The Business Times, 16 August 2005

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Total Pages: 30
1 30 The Business Times
  • 15 1 THE BUSINESS TIMES Tuesday, August 16,2005 SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 089/03/2005
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  • 407 1  -  She's the first Singaporean, and Asian woman, to head a Shell international unit By RONNIE LIM [SINGAPORE] Royal Dutch Shell has made Loh Wai Kiew the first Singaporean, and Asian woman, to head a Shell global business unit. Ms Loh, who was Appointed
    FILE PHOTO  -  407 words
  • 128 1 sn 2,279.76 (-23.44) ST INDEX FUTURES 2.274.00 (-24.00) simso ***** (-2.73) SIMSO FUTURES 269.40 (-1.40) MARKETS Monday Change K1SEC0MP 827.82 -9.12 NIKKEI 225 12.256.55 -5.13 HANG SENG 15.466.06 +15.11 SET INDEX 675.52 -&43 JAKARTA COMP 1.***** -35.89 MANILA COMP 2,005.99 +32.11 SEOUICOMP dowd SHENZHENS 238.78 -ail BOMBAY IND
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  • 782 1  -  Scheme's cost to banks may be passed to consumers By SIOW LI SEN, CHUANG PECK MING [SINGAPORE] The government moved to put in place the legislative planks for a deposit insurance plan when it finally introduced a Bill yesterday to compensate depositors if the
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  • Page 1 Advertisements

  • TOP STORIES
    • 554 2  -  Move will be part of semicon sale for US$2.7b to KKR and partner By RAJU CHELLAM [SINGAPORE] Agilent Technologies the world's biggest maker of test and measurement equipment will cut 1,300 jobs worldwide and transfer about 70 per cent of its 2,700 employees
      FILE PHOTO  -  554 words
    • 55 2 OUR Events Listing yesterday gave the incorrect date and time for the PACE 2005 NICC's 3rd Annual Symposium for IT Training and Certification. The event will actually take place on Aug 19 and 20, from 9am to 6pm, at the Suntec Singapore International Convention Exhibition Centre, Level 3. We
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    • 566 2  -  Three JV power projects worth US$1b each; one of them is in UAE By RONNIE LIM [SINGAPORE] SembCorp Utilities has been pre-quali-fied for three mega jointventure power projects worth about US$l billion each in the Middle East, with one at the more advanced bidding stage.
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    • 586 2 China to sell first majority stake in state-owned bank SINGAPORE'S DBS Group Holdings, Carlyle Group and JPMorgan Partners are among potential bidders as China's government plans to sell a majority stake in Guangdong Development Bank, ceding ownership of a state-owned lender for the first time. TOP STORIES, PG
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    • 492 4 DBS said to be among potential bidders for Guangdong Devt Bloomberg [HONG KONG] China's government plans to sell a majority stake in Guangdong Development Bank to investors, ceding ownership of a state-owned lender for the first time, people familiar with the
      Bloomberg  -  492 words
    • 317 4  -  Rates are expected to rise another 40 basis points by year-end: economist By SIOW LI SEN [SINGAPORE] United Overseas Bank and Hong Leong Finance have finally caved in to the pressure on home loan interest rates both will raise their rates
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    • 265 4  -  Boost from vehicles, Great Singapore Sale By NANDE KHIN [SINGAPORE] Retail sales climbed a better-than-expected 9.4 per cent in June from a year ago, as more vehicles were sold and the Great Singapore Sale boosted spending. On a month-to-month basis, retail sales rose 7.6
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    • 527 4  -  His representative Mohamad Khamil Jamil to be deputy executive chairman from today By S JAYASANKARAN in Kuala Lumpur TYCOON Syed Mokhtar Al-Bukhary effectively takes over Malaysian conglomerate DRBHicom today. a His control comes in the form of his representative Mohamad Khamil Jamil, who starts his job
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  • Page 2 Advertisements
    • 620 2 2005 Financial Reporting Standards Who Should Attond There are substantial changes to Financial Reporting Standards applicable from 2005. These seminars are essential for chief Many of these changes result from Singapore's adoption of new/revised International financial officers, financial controllers and Financial Reporting Standards for 2005. KPMG is holding a series
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  • Page 3 Advertisements
    • 718 3 PS" i. K i 4 fex a 1 KU9 B V m- —r- Bg^^fl i 1 .*f&' H fe.*' v ;„k-':,. flHHora^Sn|| i?* -Pl' HHK jdK* T ■,faMgßiijihrffiffife■' HHHHHnHHHmE Bpg. <:• ?&j&&£ Mrl?*#' ?£&^#s&P*^ l > I Ifcj .v-lSiili# ■-%dF^% Citibank Unfixed Deposits now come in US Dollars With our
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  • Page 4 Advertisements
    • 582 4 BT ONLINE Access to BT Online is free after 6pm each day. But print subscribers can access our online news anytime. Call 6388-3838 to subscribe and activate your online account CIH; Ltd CIH Limited (Incorporated in the Republic of Singapore) Co. Reg. No. *****6357H Announcement Notice of Books Closure and
      582 words
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  • COMPANY NEWS
    • 565 5  -  Acceptances fall short; SC to sell its shares to rival offer from Vantage CEO By JOYCE KOH ONLY one party is left standing in the bid for Vantage Corporation. Simon Cheong's SC Global Developments yesterday said its bid to take over Vantage has
      565 words
    • 527 5  -  By JOYCE KOH XPRESS Holdings' chief executive Lim Chin Tong has resigned after five years, during which period he helped to steer the company out of its disastrous Internet endeavours and force it back to its core print business. The company yesterday said
      FILE PHOTO  -  527 words
    • 797 5  -  HOCK LOCK SIEW By DONALD URQUHART WITH a half-year of muted, but nonetheless sustained, growth behind it, Neptune Orient Lines (NOL) looks set for relatively smooth sailing for the remainder of the year, with the real test for the world's fifth largest container shipping
      797 words
    • 444 5  -  IPO WATCH By RAJU CHELLAM GLOBAL Testing Corp (GTC) has launched its initial public offering (IPO) for a mainboard listing, becoming the first Taiwan chip-testing company to list on the Singapore Exchange, and the third listed chip test and assembly company here, after
      LIANHE ZAOBAO  -  444 words
    • 555 6  -  It sees US$87m earnings, says it has applied for UK casino licences By VEN SREENIVASAN BIL International, which is the subject of a general offer by Quek Leng Chan's Guoco Group, raised its fullyear earnings by 39 per cent to US$B6.9
      NSTP  -  555 words
    • 233 6  -  CORPORATE RESULTS By UMA SHANKARI PROPERTY and retail group Metro Holdings has more than doubled its earnings in the first quarter. Net profit for the three months ended June 30 rose to $11 million. This is up from $4.75 million in the previous
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    • 311 6  -  By CHLOE CHOY SESDAQ-LISTED Media Asia Entertainment Group yesterday registered a 10.9 per cent rise in HI net profit, driven mainly by the roaring success of its blockbuster movie, Initial D. For the six months ended June 30, the Hong Kongbased film
      FILE PHOTO  -  311 words
    • OTHER RESULTS
      • 76 6 PACIFIC Andes said its net profit for the first quarter to June 30 more than doubled to HKS40.71 million (SS8.7 million) from HK$15.49 million a year ago. Revenue went up 69.4 per cent to HKS804.89 million. The sale of frozen fish was the
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      • 109 6 AUTOMOBILE manufacturer and electronic components distributor Lion Asiapac registered a 33 per cent increase in net profit for financial year 2005, bringing the figure to 16.4 million, up from $12.3 million last year. The increase was helped by cuts in advertising, manpower and research
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      • 144 6 LIANG Huat Aluminium has slashed its first-half net loss to $22.8 million from $67.6 million in the year-ago period. But it has sounded a note of caution on its operations. The 66.3 per cent fall in loss was despite a 34.5 per cent
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    • 340 6  -  By CHEN HUIFEN INFORMATICS Holdings has slashed its first-quarter losses, helped by drastic cost-cutting measures and the absence this time of a big exceptional charge that it faced in the year-ago period. For the three months ended June 30, net loss for the learning
      FILE PHOTO  -  340 words
    • 417 7  -  They can help to boost electronics and precision engineering sectors By CHEN HUIFEN SINGAPORE wants to attract more medical technology (medtech) firms to help diversify its electronics and precision engineering sectors, said Agency for Science, Technology and Research chairman Philip Yeo.
      417 words
    • 299 7  -  By VEN SREENIVASAN SINGAPORE Airlines flew 6.8 per cent more passengers in July, outpacing capacity growth of 5.8 per cent and lifting its passenger load factor to 78.7 per cent the highest level sinc6 January 2004. The figure was 0.7.0f a percentage point
      FILE PHOTO  -  299 words
    • 210 7 STRATECH Systems has signed an agreement with a US government agency yesterday which will allow for the commercialisation of a fully automated vehicle and driver surveillance and access control system. This system will involve technology on several fronts. Stratech's homegrown Intelligent Vehicle Access Control
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    • 337 10  -  CHINA DEALS It will upgrade and expand brewery to boost capacity in China market By JEAN CHUA ASIA Pacific Breweries (APB) has, through a 50 per cent-owned subsidiary, bought a plant in Jiangsu province to boost its production capacity in China. Jiangsu DaFuHao Breweries,
      FILE PHOTO  -  337 words
    • 227 10  -  By RACHEL LIN SESDAQ-LISTED New Wave Technologies has signed a memorandum of understanding with five shareholders of Manufacturing Network (MNPL), raising its stake in the aluminium supplier from 36 per cent to 84 per cent. By turning MNPL into a subsidiary.
      227 words
    • COMPANY BRIEFS
      • 49 10 TEMASEK Holdings' placement of 200 million Capita Land shares has cut its total (direct and deemed) interest in the property giant to 47.22 per cent as at Aug 11. About 52.69 per cent of Capita Land's 2.7 billion shares are now in public hands.
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      • 76 10 MAINBOARD-LISTED SembCorp Marine, which specialises in shiprepair, ship conversion and offshore engineering, yesterday announced that Heng Chiang Gnee, the company's deputy president and alternate director on the SembCorp Marine board, has relinquished his posts from yesterday to become the chief executive officer-designate of SembCorp Environmental Management. Mr
        76 words
      • 100 10 FORESTRY, pulp production and construction firm United Fiber System yesterday announced that it has appointed Deutsche Bank AG as the financial adviser on the proposed acquisition of a majority stake in Indonesian pulp mill PT Kiani Kertas. The company said that it "will make necessary announcements
        100 words
      • 58 10 MAINBOARD-LISTED British and Malayan Trustees, which provides a range of trustee services, yesterday announced that its chief executive Terrence Chee Teng Hsiu had resigned from today. British and Malayan Trustees said that following the resignation of Mr Chee, Linda Ho has been appointed the acting chief executive
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    • 267 10 CABLING solutions provider Lantrovision, which was probed by the white-collar crime buster last year, has issued a profit warning for its full-year results ended June 30, 2005. "The board of directors, after evaluating the group's operations and results todate, deems it appropriate to
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    • 42 10 UNIT TRUSTS FUNDS LEGEND: All prices are indicative; Broadly Diversified; Narowly Focused; S Lower Risk; Low to Medium Risk: Medium to High Risk; Higher Risk; open-ended; Before subdivision of units; After subdivision of units; SP after stock split; N.A. Non Dealing Day
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  • Page 5 Advertisements
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  • Page 6 Advertisements
    • 339 6 f ij^rPFA PanHiriatA 16 Aug 05,6.00 pm 7.00 pm, SGX Auditorium, ur« Ufl 2 Shenton Way, Singapore Exchange Centre 1 Briefing Presentation with Q&A session by for December 2005 and Robert Johnson, PhD, CFA, Managing Director June 2006 examinations Peter Mackey, CFA, Director, Curriculum Products CFA* CGIPS Programs Division, CFA
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  • Page 7 Advertisements
    • 82 7 liuGnativ.e, EJejstiiQnife A well established local original design manufacturer in electronics with both product design and board assembly capabilities, is looking for buyer to acquire the business fully or partly. It has excellent profitability and quality track records. Customers' base is widespread and well mixed from different industries, both local
      82 words
    • 100 7 I— -niJ 1 I i 'Mk EBB Applications for 4m Qi»MBB^^WBMMWHMMMW^Mi iW Pirtcnartiia rltlrrl l*i At ■■3«^jaKii>MMSiMBII^B^^^MW^^^^^BHWBBIBIMMB^MMBBBMBwBHHB»iHMHBMtti^wiiiii'-4ii^B^BBHR the Propsectus dated 15 AMfutcfOGß™ i M BK- g m.Cop*« th« printed Af)|JMli^^^S!iMHH^PSi^ii^lllWii^*%J»yt**«* r HK Sttnatg Cowman capital urruGau -<- '|mBWmP and from members of the Association of Banks In Singapore, members of
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  • SINGAPORE MARKETS
    • 494 8  -  STOCKS Profit-taking leads to falling prices which in turn triggers forced-selling TEH HOOI LING Senior Correspondent ALL of a sudden, the negatives are taking centrestage again in the stock market. And there is no dearth of bad news: the high oil prices, earnings disappointments, weaker
      Source: Bloomberg  -  494 words
    • 532 8  -  TRADES TO WATCH Compiled by DANIEL BUENAS FUND manager Aberdeen Asset Management Asia yesterday announced that it had further nudged up its stakes in listed property developers Bukit Sembawang Estates and City Development Limited (CityDev). Aberdeen, which has been increasing its stakes in
      532 words
    • Article, Illustration
      432 8 OTHER SINGAPORE INDICES Aug 15 VALUE CLOSE BT OB/OS -637.00 -189.00 BTCAPI -*****.00 -208.00 BT 10-day MA -*****.00 -63.00 Ail-SG Equities 582.61 -5.17 SG Equities Elect 130.64 -2.68 SG Equities Fin 1633.27 -15.78 SG Equities Prop 642.40 -2.68 SIMSCI 270.37 -2.73 SiMSCI Futures 269.40 -1.40 MOST ACTIVE STOCKS VOLUME Biosensors
      432 words
    • Article, Illustration
      926 8  -  Compiled by JOYCE KOH SembCorp Industries A«g 15 dose: $2.85 PHILLIP SECURITIES RESEARCH, Aug 15 SEMBCORP Industries (SCI) reported 2QO 5 revenue of $1.69 billion (+11.6 per cent y-o-y), and net profit eluding exceptional items of $72W million (+19.6 per cent y-o-y). Stripping out Kuehne Nagel's (KN) 2Q04
      Source: Bloomberg  -  926 words
    • 531 8  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar was able to recoup some of last week's losses by the Asian close yesterday, despite news last Friday of a worse-than-ex-pected US June trade deficit as well as the fresh all-time highs recorded by oil prices.
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  • FORWARD-THINKING CEOS
    • 488 9  -  Love for his job has enabled Thierry Douin, Shangri-La's area manager, to set high standards and excel, reports UMA SHANKARI UMA SHANKARI THERE'S never a dull moment in the hospitality business, says Thierry Douin. And he should know. Mr Douin, area manager for the Shangri-La
      ARTHUR LEE  -  488 words
    • 594 9 THINK of Shangri-La and you're reminded of an oasis of peace and tranquility. And it's that very experience of Asian serenity that the Shangri-La group aims to recreate. It succeeds admirably. In Singapore, the award-winning group's flagship Shangri-La Hotel sits close to the heart of the
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  • Page 9 Advertisements
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    • 17 9 This series is brought to you by: HITACHI Inspire the Next Hitachi LCD Projectors Present You Perfectly.
      17 words


  • SINGAPORE NEWS
    • 356 11  -  The remittance and money-changing industry to see changes By CHUANG PECK MING PARLIAMENT yesterday gave the Monetary Authority of Singapore more clout to fight money laundering and terrorism financing carried out through the money-changing and remittance industry. "The (Money-Changing and Remittance) Bill
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    • 340 11  -  By ARTHUR SIM THE Professional 'Engineers Board (PEB) and Board of Architects (BOA) have been given more powers to regulate and uphold professionalism and safety standards in the construction industry. Amendments to the Professional Engineers Act and Architects Act, tabled by Minister of State for
      340 words
    • 561 11  -  YESTERDAY IN PARLIAMENT By NANDE KHIN THE government will ensure that public housing remains affordable even after the implementation of the Design, Build and Sell Scheme (DBSS). National Development Minister Mah Bow Tan gave this reassurance in parliament yesterday during the second reading of
      561 words
    • 672 12  -  INFORMATION TECHNOLOGY Laptops and tablet PCs accounted for nearly 50% of total sales here: Gartner Reports by AMIT ROY CHOUDHURY HEWLETT-PACKARD (HP) was the top PC vendor in Singapore in the first half of this year with a 29 per cent market share,
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    • 257 12 ELEVEN Singaporean electronics and precision engineering (EPE) companies will, from today, get a chance to tap into the lucrative mobile communications market in South Korea. These 11 companies form part of an International Enterprise (IE) Singapore delegation to Korea. The delegation will be
      257 words
    • 279 12  -  By DANIEL BUENAS THE biggest concerns for public relations (PR) professionals are to what extent it is accepted as a vital part of an organisation and a lack of professionalism in the industry, a survey has found. According to the survey by the Institute of
      279 words
    • SINGAPORE ROUNDUP
      • 189 12 ACTIVITY in the Good Class Bungalow (GCB) market continues to pick up, with 37 Leedon Road now up for sale. Sources expect the site to fetch about $17 million or close to $400 per square foot of land area. The freehold, squarish
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      • 74 12 THE Central Provident Fund (CPF) said yesterday it will continue to pay 2.5 per cent interest on the Ordinary Account for the fourth quarter of 2005. The interest rate is reviewed quarterly. Savings in Medisave, Special and Retirement accounts will earn 4 per cent
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      • 80 12 THE National Institute of Education (NIE) signed a memorandum of understanding yesterday with Korea's leading Ewha Womans University. Under the three-year pact, the two institutions will collaborate on student and faculty exchanges, research and acadepiic programmes. The MCTU is the latest in a series
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  • Page 11 Advertisements
    • 182 11 WW V" Cmoß Accou trt 3 yrt Csnoii pyjj Application Introducing a total revolution in the office: the new generation of Canon digital Multifunction Devices (MFDs) embedded with MEAP is set to transform the way we work. Based on a newly developed Java based application software platform, MEAP (Muttifunctional Embedded
      182 words

  • Page 12 Advertisements
    • 192 12 QgM I vr I 4 -JS ■Ki^ pp Buy now. As you know, timing is key when it comes to making the right move. Like going for this never-before subscription offer, valid only for this month: a 20% off the usual price plus a chance to win the prize of
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    • 228 12 mm experiences in investing in China and India. ln| Businesses that are keen to invest overseas will learn about common pitfalls I that they should avoid and how "guanxi" and the right strategic partners are keys to success. Chairman of Saminar: Dr Mike Leu Associate Professor in the Division of
      228 words

  • SME spotlight
    • 824 13  -  We have looked at how franchising can help SMEs grow their business. This week, we highlight two companies doing just that. One is a fish farmer that's more keen on securing new suppliers, and the other, an apparel label that's still expanding at home
      FILE PHOTO  -  824 words
    • 482 13 HOMEGROWN apparel label bYSI, which has .won over Singapore women with its affordable and trendy clothes, is now looking to grow its external wing via franchising even as it continues to boost' its presence in Singapore. The women's wear label has recently signed a master franchise
      FILE PHOTO  -  482 words
    • 865 14 You should always plan an exit strategy and keep your business saleable, says NG JIAK SEE YOU are considering divesting your business for a good value. In order to maximise the value of your business, you should always plan an exit strategy
      AFP  -  865 words
    • 638 14  -  By WEE LI-EN BUILDING a local company distributing $2.4 billion worth of personal computer components to the international mafket in five years may sound like a pipe dream for most. However, that is what eSys Group achieved by following "simple business rules" with religious
      FILE PHOTO  -  638 words
    • 818 15  -  SMALL CAPS What's more, FM has been achieving strong growth in 2002-05, says CHLOE CHOY CHLOE CHOY Although it was listed on the Sesdaq only in May, Chinabased polyresin giftware designer and manufacturer, FM Holdings, has recently gained some attention, having secured orders valued
      LIANHE ZAOBAO  -  818 words
    • 386 15  -  By TEH HOOI LING THE Singapore market is going through a correction phasefwith the UOB Sesdaq declining 3.5 per cent and the Times Index slipping 2.9 per cent. For the UOB Sesdaq Index, this is the biggest five-day fall since February
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  • Page 13 Advertisements
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      119 words

  • Page 14 Advertisements
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  • Page 15 Advertisements
    • 17 15 Buy It. Sell It. Find It. Head to The New Paper Fast Ads for job opportunities! OO
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    • 1404 15 T^^verti»^alUoll-fre^M^B^M22/B«all^otices®sph^comjS« *\afi£!s IPCO INTERNATIONAL LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****2747 M) NOTICE OF ANNUAL GENERAL MEETING Notice is hereby given that the 13th Annual General Meeting of the Company will be held at the registered office of the Company, IPCO Building, 24 Pandan Road, Singapore
      1,404 words
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      956 words

  • ECONOMY WATCH
    • 436 16 No 'soft landing' in sight despite measures to cool market: thinktank Reuters [BEIJING] China has yet to bring the heated property sector under control despite slowing housing inflation, a top government thinktank was quoted yesterday as saying. Some local governments and property developers were resisting
      Reuters  -  436 words
    • 619 16 Bloomberg [JAKAßTA] Indonesia, South-east Asia's largest economy, grew at a slower pace for a second straight quarter as higher fuel prices and interest rates curbed consumer spending. Stocks and the rupiah feU. Q2 gross domestic product rose 5.5 per cent from a
      Bloomberg  -  619 words
    • 621 16 State agency also proposes widening yuan's trading band Reuters [BEIJING] China yesterday promised further liberalisation of its fledgling financial markets while a leading economic agency proposed building on last month's landmark yuan revaluation by widening the currency's trading band. The developments
      Reuters  -  621 words
    • 766 16 Bloomberg [BERLIN] The biggest rally in European stocks since 1998, fueled by surging corporate profits, is failing to boost the region's economy because the gains are coming at the expense of the consumer. Shares of Linde AG, a German maker of industrial
      Bloomberg; REUTERS  -  766 words
  • Page 16 Advertisements

  • MALAYSIA/INDONESIA
    • 426 17 Company will likely spend US$7-$9b in next five years to build business: CEO Bloomberg [SINGAPORE] PT Telekomunikasi Indonesia, the country's biggest phone company, says it expects some of its seven rivals in the nation to merge as rising competition erodes profits. The company, which
      Bloomberg; BLOOMBERG  -  426 words
    • 398 17 AP [KUALA LUMPUR] Authorities in central Malaysia plan to take legal action against oil palm plantation owners who burnt agricultural waste in defiance of a ban that was installed to ease a choking haze caused by fires in Indonesia, news reports said yesterday. Meanwhile,
      AP; AFP  -  398 words
    • 225 17 AFP [KUALA LUMPUR] Malaysia will register millions. of pre-paid mobile phone subscribers to prevent the untraceable handsets being used to send threatening or slanderous SMS text messages, reports said yesterday. Communications Minister Lim Keng Yaik said the Cabinet had agreed to make it
      AFP  -  225 words
    • NOTE BOOK
      • 59 17 AP [SHANGHAI] China plans to build its first offshore wind power complex next year. It hopes to ease chronic electricity shortages, the official Xinhua News Agency reported yesterday. To be built hi the Bohai Sea off Hebei province, it will have a generating capacity
        AP  -  59 words
      • 57 17 Bloomberg [SHANGHAI] China's central bank shouldn't offer financial support to broker&ges and other financial institutions to keep them afloat v the government's top planning body said. By doing so, it is wrongly using monetary policy to resolve fiscal problems, the National Development and
        Bloomberg  -  57 words
      • 65 17 Bloomberg [JAKARTA] Indonesia's central bank said it has no plans to sell bonds that comply with Islamic law in the next few months, an official said, denying an earlier report by Arab News. Harisman, a director at the central bank's Islamic banking department
        Bloomberg  -  65 words
      • 68 17 Bloomberg [JAKARTA] PT Pertamina's president Widya Purnama said he hasn't been told by the government about plans to replace him and directors. The government plans to replace Pertamina's directors, Indonesia's Vice-President Jusuf Kalla told reporters in Jakarta on Aug 12, without giving reasons. State
        Bloomberg  -  68 words
    • 262 17 AP [KUALA LUMPUR] The Malaysian government says that it will no longer subsidise highway toll charges as it seeks to reduce the budget deficit, and has told the public to be ready for a "slight" increase in inflation due to rising fuel
      AP  -  262 words
    • 291 17 Reuters AP [HELSINKI] The Indonesian government and rebels from Aceh signed a truce yesterday aimed at ending nearly three decades of fighting in the province devastated by last December's tsunami. Successful implementation of the truce in one of Asia's longest-running conflicts could
      Reuters; AP  -  291 words
    • 4 17 Source: Reuters
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  • GREATER CHINA/INDIA
    • 59 18 [NEW DELHI] Indian Prime Minister Manmohan Singh inspecting a guard-of-honour before addressing the nation from the Red Fort during Independence Day celebrations in New Delhi yesterday. Protected by anti-aircraft guns, snipers and bullet-proof glass. Mr Singh marked the anniversary of independence by promising to fight poverty
      REUTERS  -  59 words
    • 669 18 PM foresees end of poverty in 5-10 years if pace of growth is kept up Bloomberg [NEW DELHI] India's economy will grow 7 per cent in the current financial year to March 31 and the government will increase spending on public
      Bloomberg  -  669 words
    • 622 18 It may pave way for China's 800 steel mills to follow suit Reuters [SHANGHAI] China's num-ber-two steel maker, Angang, has merged with the fifth-largest, Bengang, to create a leader in the world's top steel market, as Beijing struggles to overhaul a
      Reuters  -  622 words
    • 242 18 [NEW DELHI] Around 70 per cent of the foreign companies operating in India are reportedly making profits and 84 per cent have a "positive" assessment of India, the Business Standard reported. However, investors have highlighted the need of building brand India so
      242 words
    • 460 18 AFP [HONG KONG] American property tycoon Donald Trump has filed a fresh lawsuit against his Hong Kong partners, demanding access to their financial records of a plot of prime Manhattan land he partly owns, a press report said yesterday.
      AFP; FILE PHOTO  -  460 words
    • 574 18 US demand boosts China's software export revenue [NEW YORK] China's outsourcing companies are aiming to replicate the success of their Indian rivals to attract a larger share of US companies seeking to diversify business beyond India. Chinese software makers have traditionally focused
      574 words

  • ASIA-PACIFIC/WORLD
    • 685 19 LSE shares hit high on news that Aussie bank may join others in cash offer Reuters Bloomberg [SYDNEY/LONDON] Australia's top investment bank Macquarie yesterday said it may team up with other investors to make a cash bid for the £1.4 billion (554.2 billion)
      Reuters; Bloomberg  -  685 words
    • 268 19  -  By UMA SHANKARI [SINGAPORE] Leaders across South-east Asia have demonstrated that they desire closer integration, but more needs to be done to build up the institution that is Asean, said Pascal Lamy, director-general (designate) of the World Trade Organization. Mr Lamy, who is the
      268 words
    • 448 19 NYT [WASHINGTON] Cristeta Comerford, a FilipinoAmerican, became the first female White House executive chef on Sunday after a lengthy selection process. Laura Bush, the First Lady, said she was delighted that Ms Comerford, who has been an assistant chef in the White House since
      NYT; REUTERS  -  448 words
    • 583 19 Bloomberg Reuters [NEW YORK] Billionaire investor Carl Icahn, who has made a career out of agitating for change at corporations, yesterday said he is leading a group of Time Warner investors in a campaign to pressure the company to buy back US$2O billion in
      Bloomberg; Reuters; BLOOMBERG  -  583 words
    • 277 19 1 in 10 may be counterfeit; China fingered as source [SAN FRANCISCO] As many as one in 10 IT products sold worldwide may be counterfeit, costing global technology companies as much as US$lOO billion in lost revenue a year, says
      277 words
    • 149 19 AFP [SYDNEY] Workers at call centres based in India are selling personal information which puts tens of thousands of people at risk of computer fraud, Australia's national broadcaster said yesterday. In an investigation for ABC Television's Four Corners programme, reporters were offered
      AFP  -  149 words
    • 665 19 A squabble has broken out between Yahoo and Google over who has the bigger or better search engine NYT [SAN FRANCISCO] HOW big is the World Wide Web? Many Internet engineers consider that query one of those imponderable philosophical questions, like how
      NYT  -  665 words

  • AVIATION
    • 362 20 Profit down 41 at Airports of Thailand Bloomberg [BANGKOK] Airports of Thailand PC L, which operates five international airfields including Bangkok and Phuket, said thirdquarter profit fell as costs rose and the company lost on foreign exchange. Net income fell 41 per cent to 769.4 million baht (5531.1 million), or
      Bloomberg  -  362 words
    • 479 20 200 passengers still stranded from the walk-out by ground crew last week AP [LONDON] British Airways resumed all scheduled domestic and European flights yesterday and said fewer than 200 passengers remained stranded after last week's ground-crew walk-out disrupted the travel plans of
      AP; REUTERS  -  479 words
    • 404 20 Bloomberg [LONDON] Greek authorities found the damaged cockpit voice recorder from the wreckage of the Cypriot airliner that crashed on Sunday, killing all 121 passengers and crew aboard in Greece's worst air disaster. They also recovered 118 bodies. The recorder, which details conversations between the
      Bloomberg  -  404 words
    • LOG BOOK
      • 74 20 Bloomberg [HONG KONG] Hong Kong International Airport, Asia's third-busiest airfield by passengers, handled a record number of travellers last month, as more people took vacations in the northern hemisphere's summer. Passenger numbers rose 10 per cent from a year earlier to 3.79 million in
        Bloomberg  -  74 words
      • 53 20 AP [HANOVER, Germany] A British Airways flight on Sunday overshot the runway at Hanover airport, ending up in a meadow 150 metres past the landing strip, the airport said. The 45 passengers and four crew members were not injured, and were able to walk off
        AP  -  53 words
      • 91 20 Bloomberg [TAIPEI] Foreign and domestic airlines, including China Airlines and EVA Airways Corp will raise cargo fares from Taiwan to Europe by between 10 per cent and 15 per cent, effective today, to offset the surge in crude oil prices, the Commercial Times
        Bloomberg  -  91 words
    • 397 20 AIRLINE CODES: AA: American Airlines (AAL), AF: Air France (AFR), AI: Air India (AK), AY: Finnair Oy (FIN), AZ: Alitalia Airlines (AZA), BA: British Airways Public Ltd Co (BAW), BG: Biman Bangladesh Airlines (BBC), BI: Royal Brunei Airlines Sdn Bhd (RBA), BO: Bouraq Airlines (BOU), BR:
      397 words
  • Page 20 Advertisements
    • 184 20 BT Deal of the Week Exclusive Business Class Airfares with ZUJI Iff L! *^si W nH^ffKuf# l r^Kyß9ll B k«jM 1 nMnk f HBp v i*a^B^BHMH < I—ui AIRFARE HOTEL WEATHER Jakarta $699 2 nights free 4% I Cathay Pacific Mandarin Oriental Rain Exclusive to BT. Buy the Cathay Pacific
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  • Page 20 Miscellaneous
    • 198 20 CRYPTIC CROSSWORD 1 Raise ahem or adopt (4,2) 16 Length of grassland (3) Across: 1 Distinction, 9 Mean, 10 2 Spray dirty dog the rodent 1g Go)d g rant appear to be Battledress, 11 Disc, 14 Hurdler, 16 (5,3) toooed with cheese (2 6) Chinese, 17 Divot, 18 Rove, 19
      198 words

  • SHIPPING
    • 585 21  -  London-based JWC said to be too far away from Malacca Strait By DONALD URQUHART [SINGAPORE] The Federation of Asean Shipowners (Fasa) has added its voice to the growing protest over classifying the Malacca Strait as a war and terrorism risk, suggesting that London-based underwriters may
      585 words
    • 302 21 Joint venture to invest US$70-100m more for upgrading [SINGAPORE] PSA International may soon be operating another Mediterranean terminal after submitting a US$755 million bid along with its joint venture partner for a 36-year operating lease at Turkey's Mersin port. PSA teamed up with
      FILE PHOTO  -  302 words
    • 291 21 SGX '000 Aug 15 St Vol CH Offshore 0.40 -0.01 1334 ChuanHup 0.91 -0.02 3388 Cosco Corporation .2.36 -0.04 8002 CWT Distribution 0.70 unch 107 Ezra Hldgs 1.55 -0.03 1564 Freight Links 0.08 unch 430 Grand Banks Yacht 0.97 unch 137 Java Holdings 1.16 -0.01 5815 K1 Venture
      291 words
    • 443 21 Bloomberg [LONDON] The cost of shipping oil from the Middle East on very large crude carriers (VLCCs) may rise for the first week in three as Persian Gulf producers begin releasing details of September exports, spurring demand for vessels. Most oil
      Bloomberg  -  443 words
    • PORT SHOTS
      • 106 21 Reuters [SINGAPORE] Petrolimex, Vietnam's top oil products importer, has purchased a 38,000-tonne tanker to transport fuel oil, adding to its fleet of five vessels, a company official said yesterday. -Petrolimex paid over US$4O million for the two-year-old Nord Afrika. which will head for the southern
        Reuters  -  106 words
      • 111 21 Bloomberg [LONDON] Raymarine pic, a UK maker of marine navigation and autopilot systems, yesterday said first-half profit rose 39 per cent as boat-makers expand. "People are buying bigger boats and are trying to find more time to spend on them, and are spending more time on
        Bloomberg  -  111 words
    • 212 21 Bloomberg [SINGAPORE] The number of 2-mil-lion-barrel tankers hired to ship crude oil from the Middle East has fallen as oil has risen to records, suggesting the price doesn't reflect a physical shortage of oil worldwide, shipbroker Poten Partners said. The number of so-called
      Bloomberg  -  212 words
    • 297 21 Bloomberg [KUALA LUMPUR] Last week's haze, which reduced visibility in western Malaysia and caused schools to be closed, did not cause any delays at the country's busiest harbour, says the chairman of the operator of Port Klang. "The port is
      Bloomberg  -  297 words
    • 346 21 Bloomberg [BEIJING] China Merchants Holdings International Co, one of the largest managers of the country's ports, said it has approvals to invest in its sixth container terminal, as expanding exports increased demand for shipments. China Merchants will spend 4.5 billion yuan (Ss92l
      Bloomberg  -  346 words
  • Page 21 Advertisements
    • 382 21 ■KV3MPPSHR Call toll-free 1800 289 8822 LOST SHARE CERTIFICATES The following share certificates have been reported lost, destroyed or mislaid:N«im of Company Certificate No. In th«» Nmw id No, ftf Shares Neptune Orient Lines Limited *****44 Wong Yong Theng, 1,000 Wong Yong Chow Wong Yong Swee -do- *****06 -do- 1,000
      382 words

  • EDITORIAL & OPINION
    • 508 22 EDITORIAL TWO months ago, there was an article in an aviation magazine highlighting a survey of global airports by J D Power and Associates. It rated passenger satisfaction at large and medium-sized airports based on eight weighted criteria accessibility, check-in, security, terminal facilities, food and
      508 words
    • 769 22  -  THE BOTTOM LINE WILLIAM PESEK JR CHINA is partying like it's 1999. The reference here isn't to pop star Prince or the Y2K bug, but the height of the dotcom stock bubble. In the last year of the *****, hysteria over
      769 words
    • 1287 22  -  Divorce is often an ugly battle for assets and a line of dirty laundry for head honchos By GERALDINE FABRIKANT NYT WHEN Jeffrey W Greenberg was forced out as €hief executive of Marsh McLennan, the big insurance broker, amid a bid-rigging investigation
      NYT; PHOTOS: BLOOMBERG  -  1,287 words
    • 1636 23  -  Yahoo's new billionaire partner in China, the founder of Alibaba.com, is a master at selling By DAVID BARBOZA NYT Everything you hear about Jack Ma is improbable. But today, he looks like one of China's smartest high-tech entrepreneurs. Yahoo's far-reaching deal with him last
      NYT; AP  -  1,636 words
    • 211 23  -  LETTERS TO THE EDITOR Mrs Lee Leng Kiong Director (Corporate Communications) IRAS WE refer to the article "Tackling the practical realities of tax treaties" by Ang Siew Lian and William Chua (BT, Aug 10). In the second last paragraph, the writers wrote that since the
      211 words
    • 747 23  -  By JENNY LEONG PERSUASION is often more effectual than force, goes an ancient proverb credited to the Greeks. As all old sayings go, this one too seems to have struck the truth. Persuasion is all about showing what can be achieved or enjoyed
      747 words
    • 305 23  -  Han Kok Juan Director (Social Programmes) Ministry of Finance (MOF) I REFER to the letters by Quek Soo Beng, "Review $600,000 limit for exemption from estate duty" (BT, Aug 9) and Sunder R Daswani, "Don't limit estate duty exemption to homes" (BT, Aug 11).
      305 words
    • 187 23  -  Denis Distant, Singapore I REFER to the report "JTC, Hyflux disappointed over hiring Kuan" (BT, Aug 12) and the TV news conference where four current and former JTC executives gave their views on Mr Kuan's job performance. According to the report, they said
      187 words
    • 129 23  -  Narayana Narayana Singapore I REFER to your report "Oei again thwarts Nat Steel's bid to change its name" (BT, Aug 13) in which NatSteel's chairman was quoted as saying, "I sit on many boards and I don't think we are less transparent than other
      129 words

  • Page 23 Advertisements
    • 103 23 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletter@sph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh 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
      103 words

  • 2530 24 SGX XTRANET 52-Wk T«l last Vol Day LvtQuott GrfMv Mv GrVM Nat MCap HI# law Coda C Ml W- rOOO) jgfe lew >g Cw Ht Ml ********** 6065 Diamonds US*****od 6095 ISDJUSTach US3740 6097 ISMSCISpofC US555 6101 BS4P500 US8270 ********** 6170 SPDRS US ***** 2449 1890 6235 STIETF100
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  • 3329 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In leal can In VS la USS dy %yr dy *yt dy %yr Aug 12 tnd«« Change Ch«nq» Chenge Change ChmriQt Change World lndeiPttftrtn»v 907.6 -05 65 -02 44-04 33 »EAft Preliflwary 863-4 -0.2 11.8 0.1 5.4 0.1 4.2 Europe Prefimmary 1200.1 -0.4
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  • Page 26 Advertisements
    • 1423 26 panpppHppH fife# Lk2| 4. JSa^Bi' i' %y V 1 NYK GROUP SOUTH ASIA PTE LTD Y!- m 1\ ILTW HM VC TEL *****123 \v— M 3 It LINE Fax: 6292 2856(Regionalsales)/*****109(0P5)/6299 5785 (Documentation) V NIPPON YUSEN KAJSHA TOKYO K>»AXU KASHA. Ua (C/R NO' **********0E) '378 *****000 SINATOR (5.1.A.) Pto ltd
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    • 768 26 IINTIRASIA nOHO SUVICE VBSa/VOY RAMffICQ HBGHTIM) MO KCH tO I SW IT SIUITSVENTUK 17/05 15 3.2 11/01 21/06 25/08 26/08 30/08 STUITS VENTURE 18/05 15 3.2 01/09 04/09 08/09 11/ M 13/09 STKAITS VEHTUKE 19/05 15 3.2 15/09 18/09 22/09 25/09 27/09 [AUSTRALIAN KOtO SERVICE 1 VBSa/VOT RAMPOCT) HBGHTtM)! la
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  • Page 27 Advertisements
    • 1119 27 www.hombufßsud.tom ausi sarviq (ixrorn ETA HA B* 01 rOTKLAWG SMGATOtt OttSIAW SYDMfT MmOUtWt ADBJUDf HmPJUW SWGAfOtt tUiUM STWKT MtUOUtW ADBJUW CAIYUW HE 062S H/M 19/ M 29/00 31/00 03/09 06/09 CAIYUW HE 063S 15/09 It/09 26/09 21/09 01/10 04/10 CAMEIM6ASI4S 2S/CX 2t/00 05/09 07/09 10/09 13/09 CAf «BII6* 513S 22/09
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    • 1095 27 VESSEL VOY sUT PGU HCM HKG' KYH PUS VESSEL VOY SIN PKG GOLDEN HADE SIIN 17/8 18/8 20/B NEW DYNAMIC 093 A 18/8 20/B CAPE SANTIAGO 004N 23/8 24/8 24/8 z GOLDEN GATE IS1?N 30/8 I 31/8 I 2/9 I -~11 l__| •MhHC-Wid-Sfeor *VSI cpfcng both Horth West port VESSEL
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    • 880 27 m S)<32S& WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS VESSEL VOT SIN P.KLAMO COLORUO H-SHIVA COtOOtO n m datz unawiwiti rnrni haue maug Kg MSff am INDI«A GAWDHI OW6W OS SEP OA SEP 09 Sg 12 Sg 15 Sg KAJIV GANDHI 0096W 12SEP 13SEP
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  • THE BUSINESS TIMES SHIPPING TIMES
  • Page 28 Advertisements
    • 719 28 WW WALLENIUS WILHELMSEN website: http://www.2wglobal.com VESSfI YOY RAMP HtIGHT SIN LK ~MAO~ HOW ~MIA SAY Ml OtF HYC WW MOO TOM Afs2l 4001NS 6.30 M 19/08 10/09 19/09 23/09 29/09 27/09 TAMPA AFS22 420TMJ 6.4 M 24/08 20/09 29/09 03/10 06/10 06/10 TAPKXA ALSI9 4001 ms 6.3 M 05/09 13/10
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    • 560 28 VESSEL VOY SIN PGU TOSH VOT SM JKT PAC IANOA 1533 M 12/Ot 12/01 ntmUM 93H 13/00 14/00 PAf IANDA Kim 11/0* U/OS PACOAU 4179 17/01 20/01 rwv m !*T'" 17 1 TT J, 2CSTS nnlnm Of 2301 OlStf 13/Ot 15/00 PAC OHM Lill* LJO/gg —LJgZgj paciamo* IS3SW u/m no?
      560 words
    • 420 28 i BSAi MYANMA HHPR FIVE STAR LINE (Myowaor National Line) Loadiag for Ymgoa vcssa vor sin pki pen pgu PAGAN 3MW SU> PAGAN 349W SU> IN MAIATSA: I OUST! AO SHIPPING AGENCIES KUI/PKL 03-300 SOU PEN: 04-*****15 ACCEPTING CONVENTIONAL C6O VESSEI VOY HKG SIN PGU PU KUC HAKIM EMKtiM 23
      420 words


  • PROPERTY
    • 263 30  -  Chee Hok Yean made EVP; Corinna Toh, SVP; Heng Sue Lin, VP By KALPANA RASHIWALA JONES Lang LaSalle Hotels, which brokered the $300 million sale of Crown Hotel on Orchard Road in June this year to Hong Kong's Park Hotel Group, yesterday announced three promotions
      263 words
    • 369 30  -  By CHEN HUIFEN OFFICE rents in Hanoi are expected to rise 10-15 per cent over the next six to 18 months because of a shortage of Grade A and B space, says CB Richard Ellis (CBRE) Vietnam. "While there are more buildings coming into
      369 words
  • Page 30 Advertisements
    • 238 30 ARDMORE PARK DEVELOPMENT SITE FOR SALE BY TENDER I Prestigious location at Raffles Girls' I*ol a rv— i secsch /|7 Ardmore Park Ll PI v\ •Freehold ]m| h //9? te\ Approximately nl 45,500 Sq ft Vok/y \A Park plo+ Ratio 2,8 itat Z/°*/ Xffi" Height control up to 36 A
      238 words
    • 134 30 ■Debenham* Tie Leung H* Suitable for commercial schools/small corporate office OR serviced office/apartments* Land area: 1,330.9 sq m Net lettable area: Approx. 56,700 sq ft 2003 MP: Plot ratio 8.4+ building height up to 35 storeys Planning approval to be obtained For Sale by lender Closing: 8 Sep 2005, 3pm
      134 words
    • 194 30 OFFICE SPACE AT THE HEEREN 260 ORCHARD ROAD -1,600 sq ft 4,100 sq ft Column free layout Raised flooring 5 mins. walk to Orchard Somerset MRT Jalana 6839 7223 Swm Chang Management Pte Ltd *CUSHMAN& WAKEFIELD, hh Global Mai Estate Solutions" Dll Near Novena MRT Site Area: 24,000 sqft Plot
      194 words