The Business Times, 2 August 2005
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2005-08-02
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The Business Times
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Title Section15 2005-08-02 1 THE BUSINESS TIMES Tuesday, August 2,2005 SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 089/03/200515 words
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Article, Illustration668 2005-08-02 1 JEAN CHUA - Manufacturers cite strong global electronics demand By JEAN CHUA [SINGAPORE] Manufacturers are more optimistic about "business in the current half-year, citing rising global demand for electronics as the main reason. And in the broad services sector which makes up more than 65 perSource: Department of Statistics - 668 words
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707 2005-08-02 1 TEH HOOI LING - Collectively, net profit is up 20% at $7.8b from a year ago By TEH HOOI LING [SINGAPORE] Sixty per cent of Singapore-listed companies have managed to report increased profits despite sky-high oil prices. Of the 58 companies that have reported their results707 words
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Article134 2005-08-02 1 sn 2,365.72 (+13.16) ST INDEX FUTURES 2,346.00 (+10.00) SIMSCI 281.64 (+1.83) SIMSCI FUTURES 279.00 (+2.10) MARKETS Monday Chang* KLSECOMP 938.22 40.83 NIKKEI 225 11,946,92 +47.32 HANG SENG 14,978,88 +97.90 SET INDEX 674.99 -0.68 JAKARTA COMP 1.***** -4.08 MANILA COMP 1.982.93 -17.32 SEOUL COMP 1.115.98 +4.69 SHENZHEN B 219.60134 words
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Page 1 Advertisements
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Advertisement15 2005-08-02 1 mMm CHANGES ATF&N HF JM W Michael Rim steps down as exec chairman PG4 815 words
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Advertisement43 2005-08-02 1 SURPRISE MOVE German firm Behringer suspends listing plans —e»r PG2 SME SPOTLIGHT Spring Singapore's strategies to help SMEs PGII KING FAHD DIES '1; W M w| Saudi Arabia vows to maintain same qU policy pgs 3, is i:i> JAQUET DROZ i THE HOURGLASS43 words
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TOP STORIES
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Article, Illustration862 2005-08-02 2 JOYCE KOH - BT exclusive It is instead looking at a Nasdaq listing because of richer valuations there By JOYCE KOH {SINGAPORE] Just a day before the launch of its planned initial public offer (IPO) in Singapore, German company Behringer has had second thoughts and862 words
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Article, Illustration509 2005-08-02 2 NYT [BERLIN] Willem Duisenberg, the blunt-spoken Dutch central banker who oversaw the introduction of the euro as the first president of the European Central Bank, was found dead on Sunday in a swimming pool at his villa in the south of France, the French governmentNYT; Source: Reuters - 509 words
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Article615 2005-08-02 2 STB set to hire integrated resort 'investigator' THE Singapore Tourism Board is poised to select a company to assess the suitability of the bidders for the integrated resort projects. BT understands that US-based Spectrum Gaming Group and Hong Kong-based I-OnAsia had tendered for the job. TOP STORIES, PG615 words
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506 2005-08-02 2 JOYCE KOH - FT report says offer may reopen race for the lender By JOYCE KOH [SINGAPORE] Temasek Holdings yesterday declined to comment on reports that it had made an unsolicited offer to acquire a controlling stake in Taiwan's Chang Hwa506 words
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488 2005-08-02 3 ALEXANDRA HO - Aim is to assess if project bidders are suitable candidates By ALEXANDRA HO [SINGAPORE] As the Request for Proposals (RFP) is being drawn up to provide guidelines for consortiums vying for the concessions to build the two integrated resorts (IRs) with casinos,488 words
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Article, Illustration675 2005-08-02 3 It will continue to pump enough to meet demand Reuters. AP [LONDON] The world's top oil exporter Saudi Arabia will stand by its policy of pumping enough oil to satisfy markets and stabilise prices following the death of King Fahd, a leadingReuters.; AP; AP FILE PHOTO - 675 words
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Page 2 Advertisements
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Page 3 Advertisements
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Advertisement266 2005-08-02 3 typa/ie Q/jb <Qhjb (0f W V A JMMSp? Four Seasons Hotel Singapore jBOE Feel the stress of the business day melt away. Be embraced by supreme comfort I a and quiet elegance, knowing your special needs will be met even before you ask. jC/f For further soothing of body and266 words
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Advertisement55 2005-08-02 3 j§i w ife r IM| w »hl I jflV t JK and month, and only needs to be reset r/ PATEK PHILIPPE oikc a year new late, a now GENEVE heart. perfeetk housed in a superbly Begin your own t raJit ion balanced Art Deco style case Tel (('s' (l55 words
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COMPANY NEWS
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Article, Illustration529 2005-08-02 4 DONALD URQUHART - Q2 turnover up 42% amid buoyant offshore oil and gas sector By DONALD URQUHART BUOYED by the surging offshore oil and gas sector, SembCorp Marine's sec-ond-quarter profit rose by 28 per cent on the back of steady growth in its ship and offshoreFILE PHOTO - 529 words
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Article, Illustration292 2005-08-02 4 JEAN CHUA - By JEAN CHUA FRASER Neave executive chairman Michael Fam will be stepping down and making way for Han Cheng Fong, managing director and deputy chief executive, who will become chief executive in 2006. Mr Han will become CEO "upon the plannedFILE PHOTOS - 292 words
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Article, Illustration130 2005-08-02 4 SINGAPORE Airlines has appointed former Commissioner of Inland Revenue and Commissioner of Charities James Koh Cher Siang (right) as a board director. Mr Koh, who retired on June 30, brought with him "extensive accounting and other experience, which will enhance deliberations at. and add130 words
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599 2005-08-02 4 R SIVANITHY - HOCK LOCK SIEW By R SIVANITHY HARDLY a day goes by without a good deal of discussion in stockmarket circles about the local initial public offer business. For the Singapore Exchange (SGX), the objective seems to be to attract as many599 words
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Article, Illustration529 2005-08-02 6 NANDE KHIN - Revenue rose 25.3% as sales from its in-house brands increased By NANDE KHIN GROWING demand for its in-house brands as well as aggressive expansion of its distribution network has helped push ladies' leather shoemaker Hongguo International's net profit up 37.4 per centFILE PHOTO - 529 words
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312 2005-08-02 6 ALEXANDRA HO - By ALEXANDRA HO HUAN Hsin Holdings, a contract manufacturer of telecommunications and electronic products, was hit by a triple whammy of higher raw material, staff and finance costs in its first half-year. This resulted in the group posting al7 per312 words
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370 2005-08-02 6 JOYCE KOH - By JOYCE KOH SHAREHOLDERS of Chuan Hup Holdings are in for a cash windfall, as the local shipper yesterday said it intends to propose a special cash dividend of 44 cents a share, which would work out to a total of $479.1 million. The370 words
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COMPANY BRIEFS
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76 2005-08-02 6 TECKWAH Industrial Corporation announced yesterday it has inked a deal to acquire 2,941 million units in Mapletree Logisties Trust for nearly $2 million. The price is based on Mapletree's issue price of 68 cents per unit Teckwah said it was offered the units76 words
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79 2005-08-02 6 TMC International Holdings has proposed a capital-reduction exercise, which will reduce the company's issued and paid-up capital from $5,805 million divided into 116.1 million shares shares of 5 cents each to $3,483 million divided into 116.1 million shares of 3 cents each. This effectively writes off79 words
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Article87 2005-08-02 6 ITE Electric has appointed a new chief operating officer, Ang Cheng Gian, who will be responsible for corporate and financial planning, business development and day-to-day operations. An accountant by profession, Mr Ang, 47, has 20 years of experience in financial management banking and accounting. He87 words
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130 2005-08-02 6 TUAN Sing Holdings said subsidiary TS Matrix Bhd is closing its plant in Petaling Jaya, Kuala Lumpur, Malaysia. TS Matrix is wholly owned by TS Technologies, in turn a wholly owned subsidiary of Tuan Sing. "The closure of the Petaling Jaya plant is130 words
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393 2005-08-02 6 CHEN HUIFEN - It was hit by a pig shortage and the threat of avian flu By CHEN HUIFEN DRAGGED by rising raw material prices and intense competition, Chi-na-based United Food Holdings yesterday reported a 25 per cent drop in its first half net profit to393 words
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Article, Illustration406 2005-08-02 7 VEN SREENIVASAN - Acquisition will expand S'pore company's presence in US By VEN SREENIVASAN SINGAPORE Technologies Engineering (ST Engg) is buying US-based Specialized Vehicles Corporation (SVC) for about U5552.5 million (SsB7 million). Its US unit, Vision Technologies Land Systems, Inc (VTLS), has signed anFILE PHOTO - 406 words
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304 2005-08-02 7 AMIT ROY CHOUDHURY - By AMIT ROY CHOUDHURY DESPITE a 27 per cent rise in revenue for its first six months ended June 30, Meiban Group's interim net profit fell 9 per cent. Among reasons cited were lower gross profit margins, higher taxes and higher minority304 words
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186 2005-08-02 7 INSTANT-BEVERAGES and snack-food maker Viz Branz has warned of a net loss for its first half-year ended June 30. This is despite the company expecting its interim performance to show higher sales year-on-year as a result of its continued marketing efforts. In186 words
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187 2005-08-02 7 CHINA-BASED chemical fibre manufacturer FibreChem Technologies is on its way to meeting its HK$lBO million net profit target for financial year 2005. The company recorded a 117 per cent year-on-year surge in net profit in the second quarter of financial year 2005187 words
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Page 4 Advertisements
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Advertisement115 2005-08-02 4 ;CAPTAI NS OF INDUSTRY SINGAPORE 27 28 SEPTEMBER 2005 juMßj MANAGING SURPRISES IN TIMES OF UNCERTAINTY Peter SCHWARTZ Chairman, Global Business Network jPIPP |r M T \.< When the Next Big One Comes: j Innovation Globalization Can Surprises Be Less Surprising First Mover Advantage Robert D. JOHNSON Deepak GHAISAS CEO115 words
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Advertisement488 2005-08-02 5 I f >i* ti j 'Y?ir -4 m^'w Exactly how flexible is your IT system? Make sure your IT system can adapt to fit any servers. Not only does this high-end platform give you situation. There was a time when proprietary the flexibility of running on Linux or Windows, but488 words
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Page 6 Advertisements
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Advertisement1036 2005-08-02 6 BmdljSotteeftOitohxon^sg ASIA'S M(MI(t IT StRVICIS (OMMRT FRONTLINE TECHNOLOQIES CORPORATION LTD Company Registration No. *****1489G (Incorporated in the Republic of Singapore) Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be held at The Telok Paku Lounge, Tanah Merah Country Club, 251,036 words
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Page 7 Advertisements
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Advertisement224 2005-08-02 7 :V Ji fit i r\ .7.V" V*" r r v' IV* \V. > Full control. Total peace of mind. ;V v i T n*: V*H Vv* i t f <L v v-' -A* *<■ v r 'r;\ t :V;. V v t y.. "i v > Caaon Net Spot Accountant224 words
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SINGAPORE MARKETS
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Article, Illustration533 2005-08-02 8 R SIVANITHY - STOCKS But brokers find difficult trading conditions for second line and sectors like technology R SIVANITHY Senior Correspondent TRADERS continued to forsake most sectors in favour of property and banks or to be more specific, Capita Land and DBS. Also in play yesterday was SembCorpSource: Bloomberg - 533 words
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TRADES TO WATCH
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408 2005-08-02 8 CONSTRUCTION company CSC Holdings said substantial shareholder TH Investments saw its deemed interest increase from 26.08 per cent to 26.2 per cent after a transaction in the open market last Friday. The 1.08 million shares were bought at three cents $ach. TH Investments now408 words
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86 2005-08-02 8 JEAN CHUA - Compiled by JEAN CHUA JARDINE Cycle Carriage bought 1.3755 million shares in PT Astra International at 13,135 rupiah each last Friday, raising its stake in the Indonesian car distributor from 49.92 per cent to 49.95 per cent. The total amount C&C paid was86 words
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Article, Illustration422 2005-08-02 8 OTHER SINGAPORE INDICES Aug 1 VALUE CLOSE BT OB/OS 28.00 +4.00 BTCAPI -*****.00 -26.00 BT 10-day MA -*****.00 +3.00 All-SG Equities 604.35 +3.50 SG Equities Elect 137.96 -1.42 SG Equities Fin 1694.45 +5.34 SG Equities Prop 673.07 +25.72 SIMSCI 281.64 +1.83 SiMSCI Futures 279.00 +2.10 MOST ACTIVE STOCKS VOLUME CapitalandDBeCW*****6422 words
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Article, Illustration912 2005-08-02 8 JOYCE KOH - Compiled by JOYCE KOH DBS Group HoldingsAugust 1 dose: $16.60 CIMB-GK GOH, August 1. 2Q05 net profit of $441 million was within our expectations and slightly above consensus. A key positive was tKe interest income growth trendffn contrast to UOB, DBS had both strong volume growth and margin expansion.Source: Bloomberg - 912 words
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Article, Illustration540 2005-08-02 8 LARRY WEE - CURRENCIES LARRY WEE Senior Correspondent THE US dollar started the week on a limp note yesterday, hurt by an indifferent Q2 US GDP growth reading of 3.4 per cent last Friday and perhaps the International Monetary Fund's latest broadside on the record US currentSource: Reuters - 540 words
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VISIONARY CEOS
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Article, Illustration615 2005-08-02 9 UMA SHANKARI - Banyan Tree chief Ho Kwon Ping speaks to UMA SHANKARI about the group's commitment to the environment UMA SHANKARI IN 1985, Ho Kwon Ping, chairman of Banyan Tree Hotels and Resorts, was walking along a beach in Phuket with his wife when he decided on impulse to615 words
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Article, Illustration615 2005-08-02 9 WHILE Ho Kwon Ping detests the buzzword, "globalisation", he feels that no industry is immune to its effects. He should know. Banyan Tree has made a name for itself by building a brand name that is so successful that it is often used by615 words
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Page 9 Advertisements
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SINGAPORE NEWS
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469 2005-08-02 10 WEE LI-EN - They clarify two sections in the Competition Actsections 34 and 47 By WEE LI-EN THE Competition Commission of Singapore (CCS) has released guidelines on how it will determine abuse of market dominance by companies and whether agreements are anti-competitive under the Competition Act.469 words
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Article, Illustration548 2005-08-02 10 RONNIE LIM - By RONNIE LIM THE high operating rate of Singapore's refineries shouldn't increase the risk of a fire like that at a huge BP plant in Texas last week, officials here say. "The risk of fire is always there whether refineries areFILE PHOTO - 548 words
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296 2005-08-02 10 CHLOE CHOY - By CHLOE CHOY TEACHING can be "commoditised" to make education more affordable for all, a visiting academic from Harvard Business School said yesterday. Clayton Christensen told a forum organised by Nanyang Technological University (NTU) that disruptive innovation the innovation of products or systems that create296 words
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Article, Illustration243 2005-08-02 10 TEO Ser Luck has been appointed general manager of DHL Express Singapore with effect from July 25. He succeeds Yasmin Aladad Khan, who recently became senior vice-president, DHL Express South East Asia. Mr Teo is responsible for the overall running of all243 words
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412 2005-08-02 10 GENEVIEVE CUA - By GENEVIEVE CUA MOST Singaporeans save part of their monthly income, but only about a third have savings three times their annual income or more, a study by the Monetary Authority of Singapore (MAS) has revealed. MAS conducted its first412 words
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SINGAPORE ROUNDUP
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43 2005-08-02 10 THE Chartered Institute of Building (CIOB) has launched a risk assess<r called CIOB Risk Assestor which allows contractor and subcontractors to manage risk assessmoits online, and ensures htelth and safety obligations are met and seen to be met.43 words
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59 2005-08-02 10 MINISTER for Information, Communications and the Arts Ijee Boon Yang will attend the second meeting of the Asean and Asean+3 Ministers responsible for Culture and Arts in Bangkok from Aug 2-5. A MOU on Asean-China Cultural Cooperation will be signed by China's Culture59 words
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345 2005-08-02 10 UMA SHANKARI - By UMA SHANKARI SINGAPORE needs to move quickly to become the regional Islamic financial centre, according to Mohd Daud Bakar, president of the International Institute of Islamic Finance (IIIF). According to Dr Bakar, the Singapore Business Federation's (SBF) adviser on Islamic345 words
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Page 10 Advertisements
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Advertisement21 2005-08-02 10 I Lianhe Zaobao a 111 i M 1>»1 j IM i I 1 Hp I I I I I w I21 words
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Advertisement99 2005-08-02 10 #SAVE TAX Our qualified professionals BBL/# can assist you with offshore structures, shelf companies and incorporations In ALL jQIR jurisdictions including: TBritish Virgin Islands Cayman Islands Bahamas Mauritius Hongkong Samoa Full nominee, management, secretarial, banking and corporate administration services are available. We also specialize in offshore trusts for assets protection99 words
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SME spotlight
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Article, Illustration837 2005-08-02 11 CHLOE CHOY - By CHLOE CHOY TEN years ago, Wong Kok Hoi left his job as a fund manager and promised himself that he would not work for another fund management company. Instead, he took along with him the dream of setting up his own business of managing837 words
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Article367 2005-08-02 11 CHLOE CHOY - Spring Singapore unveils its four strategic focuses to nurture enterprise. CHLOE CHOY reports CHLOE CHOY SMALL and medium enterprises (SMEs) must build up their capabilities and learn how to manage their operations well, in order to maintain a robust and sustainable business. This, accordfng to Spring Singapore's367 words
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Article103 2005-08-02 11 SPRING Singapore yesterday launched the inaugural issue of its bi-monthly publication, Enterprise Today, which is geared towards meeting the needs of local enterprises. The magazine, which succeeds Spring's previous publication. Productivity Digest, will examine issues that interest and concern local enterprises. These include access to financing,103 words
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Article815 2005-08-02 12 KEOY SOO EARN - Angel investors, venture capitalists and financial institutions are at hand to help an entrepreneur realise his dream. But such funding also comes at a price. KEOY SOO EARN explains KEOY SOO EARN WHEN you have a sound business model but insufficient funds to turn your vision815 words
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Article, Illustration735 2005-08-02 12 LISA TAN - SMALL CAPS By LISA TAN SHREDDING'paper is no longer a luxury for Japanese, it is mandatory. Japan's privacy law, "Personal bata Protection Law", requires every citizen to shred his personal and company financial statements after viewing, in order to protect everyone's privacy. While thisYEN MENG JIIN - 735 words
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Article398 2005-08-02 12 TEH HOOI LING - By TEH HOOI LING THE Straits Times Index continued to head north, chalking up its sixth consecutive week of gains. Judging by its strong performance, technical analyst Daryl Guppy said: "There is no technical limit on how high the STI can go.^' Meanwhile, the398 words
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Page 11 Advertisements
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Advertisement60 2005-08-02 11 Private Banking At Its Best Euromoney Private Banking Poll 2005 Singapore Best Private Bank for Super Affluent Best Provider for Foreign Exchange Best Provider for Real Estate Investment Best Provider of Corporate Advisory Services to Private Banking Clients Best Provider of Private Equity Investment Best Provider of Services to Corporate60 words
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Advertisement8 2005-08-02 12 PHOENIX 1516.. J™ Subscribe Now! Call 6838 15168 words
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ECONOMY WATCH
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180 2005-08-02 13 Reuters. Bloomberg [WASHINGTON] US construction spending fell 0.3 per cent in June, the fourth consecutive monthly drop, as private residential outlays slipped, the government said yesterday in a weaker-than-expected report that suggested some cooling in the housing market. Construction outlays in June fell toReuters. Bloomberg - 180 words
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Article, Illustration602 2005-08-02 13 Official points to strong consumer spending, expected export rebound Bloomberg [TOKYO] The Bank of Japan is getting more confident that an economic recovery is sustainable because consumer spending is improving at a faster pace and export growth may accelerate later this year, theBloomberg; BLOOMBERG - 602 words
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264 2005-08-02 13 Reuters [BANGKOK] Japan and Thailand reached a basic free trade agreement yesterday under which Thailand will open its car and steel sectors in return for lower Japan tariffs on some Thai agricultural products, the chief Thai negotiator said. The agreement,Reuters - 264 words
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230 2005-08-02 13 Bloomberg [SINGAPORE] Japan said it will impose higher tariffs on 15 US products starting on Sept 1 in retaliation for a US law that distributes the proceeds from anti-dumping levies to affected industries. The Ministry of Finance said in a statement yesterdayBloomberg - 230 words
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Article4849 2005-08-02 13 UNIT TRUSTS FUNDS CitiGlobal Healthcare Fund 0.9ft CiO Gfc Fin Srvcs Fund 1.08/ ABN Amro Asset Mgt (S'pore) SB SelG^^L4^FtT^SOT)...lZ-ZlIZIlT!ri'l1M/ Star Europe OXU S 8 Sel Gfc Bus Ldrs Ctfl 03(USD) 1.1677/ Star Europe Bond 21 oobond S'pore Class Y 0.981/ Star EiropeBal U2V s B Set Eqty Dividend Pf4,849 words
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Advertisement17 2005-08-02 13 Allianz® PIMCO Global Bond Fund rated 5-star by Mercer Investment Consulting Global investors company rt-vjn no *****7169Z17 words
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EDITORIAL & OPINION
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559 2005-08-02 14 EDITORIAL THE US Congress has been in a China-bashing mood for most of this year. Lawmakers have been suggesting that China's currency policy was responsible for a record US trade deficit and the loss of manufacturing jobs. There are pending bills in both559 words
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Article, Illustration752 2005-08-02 14 WILLIAM PESEK JR - THE BOTTOM LINE WILLIAM PESEK JR Bloomberg THE scrapping of US dollar pegs in China and Malaysia are posing a familiar, yet daunting challenge to Asia: Hot money. Back in 1996, speculative capital pumped up Asian economies. A year later, itBloomberg - 752 words
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Article, Illustration1499 2005-08-02 14 TIGER TONG - With better regional cooperation, the Jing-Jin-Tang area may well be the next economic hub By TIGER TONG WITH the development of China's economy, particularly the rapid advancements in its urban areas, there is an emerging trend taking place: neighbouring cities in China have started to create synergiesAFP - 1,499 words
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Article, Illustration1368 2005-08-02 15 RICHARD SIKLOS - Sudden exit of News Corp heir apparent Lachlan betrays frayed ties between father and son By RICHARD SIKLOS NYT THE sudden exit of Rupert Murdoch's elder son, Lachlan, from his job at News Corp came amid family tensions over the future controlNYT; BLOOMBERG FILE PHOTO - 1,368 words
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349 2005-08-02 15 Chang Long Kiat - LETTERS TO THE EDITOR Chang Long Kiat Director (Housing and Healthcare) Central Provident Fund Board I REFER to the letter "Review policy on cap of CPF funds usage" (BT, July 21). The CPF Board has always strongly encouraged members to be prudent when349 words
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196 2005-08-02 15 Han Kok Juan (Mr - Han Kok Juan (Mr) Director (Social Programmes) Ministry Of Finance I REFER to the article "Time to put an end to estate duty" (BT. July 27) by BJ Ooi and Dennis McEvoy of KPMG Singapore, suggesting the government consider abolishing estate duty196 words
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863 2005-08-02 15 JENNY LEONG - By JENNY LEONG IMAGINE having a boss who has not given you so much as a moment's break for three months and who then wants you to work on the weekend. If you really needed to use your imagination to conjure up863 words
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Advertisement99 2005-08-02 15 HAVEYOUR SAY Fax your letters to 6319-8277 or email them to btietter6sph.com.sg or write to: The Business Times, SPH HQ,loooToaPayoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel laws. We reserve the99 words
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MALAYSIA/INDONESIA
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Article, Illustration737 2005-08-02 16 SHOEB KAGDA - INDONESIA INSIGHT The Chinese explorer arrived in Java 600 years ago to forge ties; today, Jakarta-Beijing links are improving by leaps and bounds SHOEB KAGDA Jakarta Correspondent ACROSS central Java this week, municipalities and regencies will celebrate and commemorate the first landing of the737 words
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Article2373 2005-08-02 16 vol General Corp 0.48 0.01 185 A»»1 Ml C000) Genting 19.80 -0.20 47 George Kent .0.61 -0.01 100 ASM Realty 1.45 -0.01 25 -GHL Systems .0.21 unch 179 Abric 039 001 276 Globetronics Tech 0.39 -0.02 1631 ACP Industries. .....0.70 unch 45 Glomac Bhd 1.51 unch 134 Advance2,373 words
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243 2005-08-02 16 [JAKARTA] Bank Mandiri, Indonesia's largest lender, is to report a surprise increase in non-performing loans for the first half of this year as its new management struggles to clean up the books, according to its new chief executive, the Financial243 words
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433 2005-08-02 16 SHOEB KAGDA - Move will help it compete on the international stage By SHOEB KAGDA in Jakarta KARBE Farma, Indonesia's largest listed pharmaceutical company, plans to use Singapore as its major research and development base with the establishing of Innogene Kalbiotech Pte Ltd. Innogene, a433 words
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Article, Illustration648 2005-08-02 16 NEWS ANALYSIS Reuters [KUALA LUMPUR] Malaysia may be headed for its biggest cabinet reshuffle in two decades as its unassuming prime minister pulls slowly but decisively away from the policies of his predecessor, Mahathir Mohamad, political analysts said. Abdullah Ahmad Badawi took officeReuters; AP - 648 words
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GREATER CHINA/INDIA
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Article461 2005-08-02 17 BID FOR UNOCAL It's a toss-up between the firm raising its bid and walking away AFP. NYT [BElJlNG] CNOOC is battling to keep alive its attempt to buy Unocal as worries mount that US political opposition might force it to withdraw its US$lB.5 billion offer,AFP.; NYT - 461 words
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Article, Illustration509 2005-08-02 17 MUMBAI FLOODS Reuters, Bloomberg [MUMBAI] Torrential rain again pounded India's financial capital yesterday after severe floods triggered by a record downpour last week killed nearly 1,000 people in and around the city. Floods closed key roads and train services were disrupted in theReuters,; Bloomberg; REUTERS - 509 words
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254 2005-08-02 17 CHINA PIG-BORNE DISEASE Bloomberg [HONG KONG] The number of people infected with a pig-borne disease in southwest China's Sichuan province rose to 181 after seven more cases were reported, the Chinese Ministry of Health said. The death toll remained at 34. The illnessBloomberg - 254 words
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195 2005-08-02 17 AFP [SYDNEY] Australia's AMP Ltd announced yesterday that it had agreed to sell its joint venture life insurance business in India, AMP Sanmar, to a subsidiary of India's Reliance Capital Ltd. AMP said its decision to pull out of theAFP - 195 words
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565 2005-08-02 17 They have made less money from the tussle than expected, say experts Reuters [SINGAPORE] The outcome of a corporate takeover is not always a case of the highest bidder wins. In the takeover battle for US oil and gas producer Unocal Corp. politicalReuters - 565 words
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316 2005-08-02 17 AFP [SHANGHAI] The chairman of Chinese white goods maker Guangdong Kelon and two senior executives have been arrested for allegedly embezzling 300 million yuan (5561.4 million) in company funds, officials and state press said yesterday. "Gu Chujun admitted one week earlier thatAFP - 316 words
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134 2005-08-02 17 Reuters [BEIJING] China began to publicise all cases of illegal foreign exchange trading yesterday, in a move that the regulator said would safeguard proper trading. Illegal trades would be listed on the website of the State Administration of Foreign Exchange, theReuters - 134 words
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Advertisement1183 2005-08-02 17 CdHrfl4ree 18W2W8822 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF ZANTRON PTE LTD (Co. Rag. No. *****4589 D) NOTICE OF RESOLUTIONS FOR MEMBERS' VOLUNTARY WINDING UP (PURSUANT TO SECTION 290) At an Extraordinary General Meeting of the members of ZANTRON PTE LTD duly convened1,183 words
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ASIA-PACIFIC/WORLD
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Article, Illustration774 2005-08-02 18 News Corp and its assets being eyed by institutional investors Reuters. Bloomberg [LONDON] Rupert Murdoch's News Corp media empire is unlikely to survive intact beyond its founder's lifetime and will be broken up, the Guardian newspaper said yesterday quoting a former Murdoch lieutenant. TheReuters.; Bloomberg; BLOOMBERG - 774 words
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308 2005-08-02 18 Bloomberg [HELSINKI] Nokia Oyj chief executive Jorma Ollila, who turned the former maker of toilet paper and rubber boots into the world's largest mobile-phone company, will step down next year. Handset chief Olli-Pekka Kallasvuo will replace him. Mr Ollila, 54, will step downBloomberg - 308 words
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617 2005-08-02 18 [RIYADH] King Fahd bin Abdul-Aziz of Saudi Arabia, who died yesterday, forged strong ties with Washington to steer his conservative kingdom through two. turbulent decades but a violent Islamist backlash clouded his final, ailing years. King Fahd ascended one of the world's617 words
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Article499 2005-08-02 18 Bloomberg, Reuters [LONDON] HSBC Holdings pic, Europe's biggest bank by market value, said firsthalf profit rose 9 per cent as increased consumer lending buoyed earnings in the United States and Latin America. Net income rose to US$7.6 billion from U556.94 billion a year ago,Bloomberg,; Reuters - 499 words
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Article269 2005-08-02 18 Bloomberg [NEW YORK] Atkins Nutritionals, founded by the late diet guru Dr Robert Atkins, filed for bankruptcy protection in New York as consumer interest in lowcarbohydrate foods faded. The company listed assets of US$3Ol million and liabilities of US$325 million in papers filed with the USBloomberg - 269 words
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Page 18 Advertisements
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Advertisement266 2005-08-02 18 Diners Club Card Toappi*can64i6o9Bo By: World of Exclusive Privileges Treats Diners Club ivivuxJiners.com.sg International cn N J FIND THE ONES hcV THAT FIT! GXf I Recruit the right people through The Straits Times 3 Recruit. Call 1800 289 8822 or email l.—* recruit@sph.com.sg to advertise. ■O x I j_Q_p igaam266 words
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Advertisement67 2005-08-02 18 MERITUS MANDARIN SINGAPORE Temptations C«t« fc Bar 2nd floor Buffet Lunch: 12:00 noon to 4:30 pm Weekdays $24.80*(Adult) I 5.80* (Child) Weekends $26.80* (Adult) S I 6.80* (Child) Reservations: 6831 6286/88 •Prices are subject to 10% service charge and prevailing government taxes M^SuS MANDARIN A division of Overseas Union Enterprise67 words
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AVIATION
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Article, Illustration684 2005-08-02 19 VEN SREENIVASAN - Stiff competition, high fuel costs, poor routes take their toll By VEN SREENIVASAN CUT-THROAT competition, closed skies, rising fuel costs and poor loads could force Singapore's low cost airlines to rationalise their routes and operations. Industry watchers reckon that Valuair, which is mergingAFP - 684 words
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218 2005-08-02 19 Bloomberg [HONG KONG] China and Hong Kong signed an agreement to increase the number of passenger flights that airlines on both sides can operate to cover 12 Chinese cities, as part of plans to expand air traffic. Starting yesterday, airlines can increaseBloomberg - 218 words
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828 2005-08-02 19 The industry is again awash in bad news and autumn only promises more problems NYT WITH planes full and ticket prices rising, the nation's airlines had been counting on this summer to lift them out of five years of doldrums and attract investors backNYT - 828 words
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Article1630 2005-08-02 19 an fucnt rr* rjcnt rro am 2215 cTSi MI566 1925 MI566 0905 fjj «=e lug nJ| I ,SSSg TG422 0745 g!?l jij tII il 1§ ffii n*" 01 fgj 1800 m TR103 1400 \A502 0905 VN745 2105 TR308 1550 T M63 1440 FO5011 ?055 Harm UM7701,630 words
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Page 19 Advertisements
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Advertisement159 2005-08-02 19 BT Deal of the Week Exclusive Business Class Airfares with ZUJI H I I AIRFARE HOTEL j WEATHER Bangkok $843 $199 4(r Cathay Pacific Plaza Athenee Royal Meridien Rain TOP 10 DESTINATIONS AWARE (businessesfrom S) Hfflaffonfl YK*h£ 11l Mll II .I -II I I■) I I■ I ■11.111 I I159 words
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Page 19 Miscellaneous
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Miscellaneous170 2005-08-02 19 CRYPTIC CROSSWORD 2 STutal '6 Taking off to f,nd „op,ca, Ac™* 3 en,ra e «T" 3nd tUmed ,U el 4 Singer turning fanatical (4) 18 out Un,ted Nat,ons 9 roup Sc,ss r 2 4 n J™- t f Co tend c Tho mn h, nnii«i« sn an (6) ers, 28170 words
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SHIPPING
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455 2005-08-02 20 Global demand for LNG vessels result in orders worth more than US$3b Bloomberg [SEOUL] Hyundai Heavy Industries, Daewoo Shipbuilding Marine Engineering Co and Samsung Heavy Industries Co, the world's three largest shipyards, won orders for vessels valued at more than US$3 billion spurredBloomberg - 455 words
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Article, Illustration448 2005-08-02 20 A surplus of 54 vessels are free for hire this month Bloomberg [LONDON] The cost of shipping oil on two-million-bar-rel crude tankers from the Middle East to refineries worldwide may fall for a second consecutive week because of a surplus of vessels availableBloomberg; BLOOMBERG - 448 words
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Article, Illustration288 2005-08-02 20 Source: Reuters SGX '000 AugJ 5$ W- Vol CH Offshore 0.40 unch 946 Chuan Hup .0.86 0.02 4683 Cosco Corporation 3.39 0.06 4431 CWT Distribution .0.67 -0.01 135 EzraHldgs 1.35 0.02 1786 Freight Links 0.08 0.01 172 Grand Banks Yacht —.0.94 -0.03 69 Java Holdings 1.16 -0.02 606Source: Reuters - 288 words
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325 2005-08-02 20 Reuters [LONDON] The London Clearing House (LCH) said last week it planned to launch its clearing service for the burgeoning oil and dry freight derivatives market in mid-September. The ocean freight futures market has almost tripled since 2003 to around US$3O billionReuters - 325 words
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Article236 2005-08-02 20 Reuters [SINGAPORE] Titan Petrochemicals Group Ltd has bought a double-hulled very large crude carrier (VLCC), expanding its total shipping tonnage by 8.7 per cent to 3.75 million tonnes, it said on Friday. The Hong Kong-listed oil transportation and trading firm paid US$B9 million to shipperReuters - 236 words
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252 2005-08-02 20 AFP [HONIARA! The Solomon Islands parliament has passed legislation to allow the South Pacific country to be used as a flag of convenience by foreign shipping firms. Transport Minister Bernard Giro said the government expects to earn taxes of over US$5OO,OOO annually fromAFP - 252 words
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Article, Illustration73 2005-08-02 20 [HAMBURG] The cruise ship 'Queen Mary 2'passes the famous landmark 'Landungsbruecken' on her second visit to the northern German town of Hamburg early yesterday. Thousands of visitors watched the giant ocean liner with several small boats accompanying the ship. The 1.132 foot long and237foot wide 'Queen Mary 2'.73 words
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223 2005-08-02 20 Xinhua [TlANJlN] Tianjin Port in north China aims to build itself into a regional international shipping centre, said Yu Rumin, president of Tianjin Port (Group) Co Ltd last week. By 2010, the port's throughput will reach 300 million tons annually and it will reachXinhua - 223 words
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Article10204 2005-08-02 21 SGX MAINBOARD 52-Wk T«l Last Vol Day Last Quote GrMv Dtv GrYM Nat MCao High Low Coda Company Sala C000) High Low »uyr jajar Cvr P/I jjjj 10 3 5716 1st Software 5c 3.5 +0.5 191 3.5 3 3 3.5 143 34 11 3148 8TelecomUS2c 12 unch 306510,204 words
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Article6323 2005-08-02 22 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In tool am In SS In IBS «dy %yr Of %y dy %yr WorldInden Preliminary 905.5 -Oj 63-03 15 00 1.8 l tAFt Preliminary 851.2 0.1 1(V2 Qj 1.9 05 02 Europe Preliminary 1190.9 ftp 125 gi 3j0 OS 1.2 Pacfc 70t.7 036,323 words
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Page 23 Advertisements
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Advertisement1457 2005-08-02 23 __Jfl flllllllfhjl e. I /g\ NYK GROUP SOUTH ASIA PTE LTD r"V vrwr TEL *****123 V AXW JL JkrfMT VWgdf M 3 11 LINE Fax:6292 2856(Regionalsales)/6239 7109(OPS)/*****785(Documentation) NIPPON YUSEN KAJSHA V4 S£ji* TORTO WAKU KASHA. UO. (C/R NO: **********0E) St s l N *l°i L i N Stodaifi^H SKERil iwir1,457 words
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Advertisement743 2005-08-02 23 IINTIRASIA RORO &WVICI vtssa/voT wrm hbchtw wg km lo I si I jkt STKAITS VENTURE 15/05 15 3.? 22/07 25/07 21/07 02/08 STRAITS VENTURE 16/05 15 3.2 05/ M 11/08 14/08 16/08 STRAITS VENTURE 17/05 1 15 3.2 18/08 21/08 25/08 28/08 30/08 [AUfTtAUAH RORO SERVICE 1 vßsa/vor rrawtcud hbghhwii743 words
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Advertisement1099 2005-08-02 24 www.hombufgsud.tom H AUSE StRVICE (EXPORT) JH SINGAPORE lIIISIAWE SYDNET MEUOURNE ADELAIDE SINGAPORE IRISIAME STPWfT MfUOURNE AOEUUOE CSCL XIAMEW OOWS 05/ M 15/ M 17/ M 20/ M 23/ M (SQ XIAMfII POMS 02/W 12/ Of 14/W 17/W M/W StOmOMS IVM 22/08 24/00 27/01 30/ M SCOTU 071S M/W H/W 21/1,099 words
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Advertisement1007 2005-08-02 24 WWW NCW bYKAMiC m 6/8 GOLDEN HADE SUN 16/8 17/5 19/8 PBTH BRIDGE 086 A 1371 I CAPE SANTIAGO 004n 23/8 ?4/8 U/t NEW DYNAMIC 093 A ij/T 20/8 *VSt tufa) bo#i Haiti West pod VBSa TOY KG SIN HKG SHA TAO HSK WESTERMOOR 020E 7/8 8/8 16/8 18/8 PERTH1,007 words
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Advertisement884 2005-08-02 24 m WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHER* AND WESTERN ICQ POINTS VKSfI VOY SIM MOANcI COtOMO N. SWVA COLOMBO Mfcz rn. itffc dfi: dHt dot Jit mttlllliu 2UII MM OIAUG MAUG INDIKAGAMDHI OMSW 01 HUG 02AUG 05AUG 08AUG II AUG mMSfiH! OWSW 08 AUG 09 AUG I2AUG884 words
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THE BUSINESS TIMES SHIPPING TIMES
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7342 2005-08-02 25 ETA ETA AdwtiMr V««l Voyge Ttkphow ETA ETA SIN Dasfn Nam Nan* Mumbw Nwnbar SIM D«fn Nam Mm* Numiwr To ALGECIRAS (ALG) 2013 Spain TO ABIDJAN (ABJ) 2003 Cote D'lvoire 25/08 20/09 NGPL SPEYBANK SP190 *****288 09/08 ***** Delmas GABY DELMAS 531W *****3*4 29/097,342 words
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Advertisement687 2005-08-02 25 UmA# wallenius wilhelmsen W website: http://www.2wfllobol.tom RAMP IK MAO HOW IMA SAV lAi OtE MYC NEW MQB TAMESIS AFS2O 320T0m 6.4 M I 01/ M 30/08 08/09 12/09 16/09 14/09 AIYONA AJSO6 160To«s S.3M 110/01 20/09 21/09 24/09 24/09 TQBA Afs2l |400 Tow 6.30 M 17/01 11/09 20/09 24/09 29/09687 words
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Advertisement489 2005-08-02 25 VESSEL VOY SIN PGU VfSSB VOY SM JKT PACIANDA 1524N 30/07 30/07 "CWTAW '!m CSF 2301 ftliH mi 11/97 luWtUl 55T5 Sffi PACIANDA 1525N 31/07 01/01 PACIANDA 1526N S2M 02/00 sum uitf tarn 93/ of ri,I, tU BIBI 111 1"'™ n^™ PACIANDA IS2ZM filZfiS WW "SoniMi M/iii owoi OF 2301489 words
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Advertisement481 2005-08-02 25 BSA 4 MYANMA nl FIVE STAR UNE (Myonmor Notional Line) Loading for Ymgo« VESSEL VOY SIN PKI PEN PGU PAGAN 341W SU> PAGAN J49W SU) IN MALAYSIA: lOUSTEAD SHIPPING AGENCIES KUI/PKL 03-*****300 PEN: 04-*****15 ACCEPTING CONVENTIONAL CBO VESSEL VOY HKG SIN PGU PKI KUC NAPIU 111 SU) SU) Sir PRINCESS481 words
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PROPERTY
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Article, Illustration537 2005-08-02 27 ALEXANDRA HO - The Belvedere, Domain 21 among projects getting boost in units sold By ALEXANDRA HO SALES of Domain 21 the 99-year leasehold property by the Singapore River that was launched over the weekend by Kheng Leong Co, veteran banker Wee Cho Yaw's private investmentFILE PHOTO - 537 words
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Article172 2005-08-02 27 PROPERTY consultancy Colliers International and the project sales division of PropNex Realty have announced a tie-up to combine the former's global brand and private residential market know-how with the latter's expertise in sales and processes. A memorandum of understanding signed yesterday allows the companies to pitch172 words
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Article, Illustration309 2005-08-02 27 ARTHUR SIM - By ARTHUR SIM PROPERTY consultants CB Richard Ellis brokered two en-bloc collective property sales over the weekend worth a combined $30 million. Riveria View, a 14,057 sq ft freehold development off River Valley Road, was sold for $14.69 million. The existing 13-unit apartmentFILE PHOTO - 309 words
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Page 27 Advertisements
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Advertisement218 2005-08-02 27 T'-' '^%>' v y^.gßfc^^^flj^^MM|^M| DUNMAN RO fSj c^s^rs?, 0 7> 9s) 3/JS RD\ T^t.vta<. -r HI 3^Bja i hJStw"«SEt""' J E City jj LA: 108,329 sf 26,284 sf (SL) MP: 2.8 GPR /100 m AMSL Closing on: Potential for 320 units x 1,200 sf 6 Sept 0 5 (Tues), 3pm218 words
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Advertisement145 2005-08-02 27 463 sqft/936 sqft Panoramic Sea/City View 1409 sqft/1872 sqft/ Next to Tanjong Pagar 2358 sqft/3293 sqft/ MRfStation 4229 sqft/6587 sqft/. y New Acoustic Ceiling 8459 sqft/9405 sqft View to Offer MdIGSK 6338 8335 International Real Estate Services. Worldwide NAI GbK ColTirn6rCl3l "Your ultimate partner in real estate solutions" toon Lay145 words
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Advertisement944 2005-08-02 27 HnjHIIIH Call toll-free 1800 289 8822 BLow Kong Huat (Singapore) Limited (Incorporated in the Republic of Singapore) (Company Registration. No. *****0209G) NOTICE IS HEREBY GIVEN THAT an Extraordinary General Meeting of lOW KENG HUAT (SINGAPORE) LIMITED (the 'Compan/) will be held at Chijmes Hall, 30 Victoria Street, Singapore *****6 on944 words
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Advertisement667 2005-08-02 28 ADVERTISING FEATURE NOVENA MEDICAL CENTER The New Paradigm for Healthcare t SroxwHledkreWmATNE A NEW BEACON OF EXQUISfTE ATTENTION TO DETAILS A HEARTBEAT AWAY MEDICAL EXCELLENCE Novena Medical Center Committed to building B The government's intensive efforts B Architecture therapy: where light and B Large olass panels offer a captivating fbSchmarktf'lweHenceb667 words
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