The Business Times, 20 August 2005

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Total Pages: 20
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    16 1 THE BUSINESS TIMES weekend SINGAPORE 85 cents MICA (P) 089/03/2005 August 20-21, 2005 online at http://business-times.asial.com.sg
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  • Article
    Lock icon CAO's parent pays $8m penalty
    716 1  -  CAOHC will also transfer CAO shares to minorities under insider-trading settlement with MAS By JOYCE KOH [SINGAPORE] The parent of troubled China Aviation Oil (CAO) has paid $8 million to the Monetary Authority of Singapore for violating in-sider-trading laws the first civil penalty levied against
    716 words
  • Article
    Lock icon MARKETS DIGEST
    135 1 STI 2,286.36 (+3.66) ST INDEX FUTURES 2,280.00 (+3.00) simsq 271.05 (+0.24) SIMSO FUTURES 270.70 (+0.20) MARKETS Friday Change KLSECOMP 925.54 +1.90 NIKKEI 225 12,291.73 -15.64 HANG SENG 15,038.61 -109.48 SET INDEX 680.83 +8.81 JAKARTA COMP 1,087.95 -1235 MANILA COMP 1,966.33 -12.79 SEOUL COMP 1,089.88 SHENZHEN B 230.60 -0.58
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  • Article
    Lock icon DBS woos borrowers hit by rate hikes
    694 1  -  It'll cover penalty payment for home loan customers who switch By SIOW LI SEN [SINGAPORE] DBS Bank is using its funding muscle to win over home-loan borrowers fed up with rate increases of as much as 150 basis points, mainly by foreign banks.
    694 words
  • Article
    Lock icon Observers expect socio-economic roadmap in PM's speech
    573 1  -  Measures to help lower-skilled workers may also be in the offing By DANIEL BUENAS [SINGAPORE] Last year it was about baby bonuses, the family and social restructuring. This year, observers and economists say Prime Minister Lee Hsien Loong's much-awaited National Day Rally speech
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  • TOP STORIES
    • Article, Illustration
      Lock icon Theglobalistquiz
      342 2 The World's Five Richest People Source: The Globalist In ordef to rank among the five richest people on earth, one has to have amassed a wealth of well over US$2O billion. Reflecting the ups and downs of the global marketplace, the list keeps changing. We wonder How many of
      Source: The Globalist  -  342 words
    • Article
      Lock icon Unusual transactions prompt CAD probe on NKF: minister
      524 2  -  The CPIB is also believed to be involved in the investigation By JEAN CHUA [SINGAPORE] Police were called in after "unusual transactions" surfaced at the National Kidney Foundation (NKF), Health Minister Khaw Boon Wan said yesterday. "Over the past month or so
      524 words
    • Article, Illustration
      Lock icon THE MESSAGE IS IN THE MASSAGE
      127 2 [SINGAPORE] Popular Asian TV host Zhang Fei knows a good chair when he sits on one. In town as part of Osim 's 25th anniversary celebrations, the entertainer is seen here trying out the latest premium massage chair of the healthcare and lifestyle products
      CHRIS LOH  -  127 words
    • Article
      Lock icon Ringgit expected to pick up steam: analysts
      422 2  -  By PAULINE NG in Kuala Lumpur THE Malaysian ringgit may be appreciating at a snail's pace affer the RM3.80 peg to the US dollar was scrapped last menth.> But analysts at a Business Times roundtable said they expect the ringgit to trade closer
      422 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      556 2 Vantage CEO succeeds in takeover bid at last VANTAGE chief executive Kea Kah Kim has succeeded in his takeover bid after securing almost 60 per cent of the cash-rich company, thus bringing the much-watched Vantage takeover saga to a close. Mr Kea's Eastunited said the offer for the
      556 words
    • Article
      Lock icon Homeland security and that SMS hoax
      719 2  -  SATURDAY SOAPBOX By KHOO HOW SAN SINGAPOREANS are assured that the government is leaving no stones unturned in anticipating terrorist attarics. Ordinary Singaporeans, too, are becoming pro-active, as evidenced by the reporting of, say, unattended bags in public places. But the manner in which
      719 words
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  • RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Fast-food king
      1465 3  -  Filipino entrepreneur Tony Tan Caktiong is brushing aside world-class competitors, reports KENNETH JAMES KENNETH JAMES TONY Tan Caktiong's success story is the stuff of entrepreneurial dreams young man fresh out of college tries his luck in ice-cream parlours, discovers what customers really want, and uses the lessons to
      1,465 words
    • Article
      Lock icon Jollibee buzzing overseas
      502 3  -  By KENNETH JAMES WHILE Jollibee Foods Corporation has enjoyed remarkable success on home ground in the Philippines, its overseas efforts have been more patchy. But every venture has been a valuable learning experience, Jollibee's founder, president and CEO Tony Tan Caktiong says. "We set up stores in
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  • Page 3 Advertisements
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      Lock icon Page 3 Advertisements Column 1
      183 3 Raffles' INTERNATIONAL Hotels 3c Resorts A Munbir of CipittlMd The Raffles Conversation is brought to you through a special arrangement with Raffles International Hotels and Resorts. The Traveller's Palm in the Raffles International logo is an apt symbol. Not only has water stored at the base of this palm provided
      183 words
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon Banks queueing up to serve local SMEs
      809 4  -  NEWS ANALYSIS External wing of cash-hungry SMEs spells profitable business, says SIOW LI SEN SIOW LI SEN Resilient consumers have been a major prop for banks the last several years as they borrow to buy homes and increase spending on credit cards and
      809 words
    • Article, Illustration
      Lock icon Volunteer taps her corporate experience
      393 4  -  By RACHEL LIN SHE used to be a high-pow-ered earner in the corporate world, but now her salary isn't in dollars it's in heart. Denise Phua, supervisor of Pathlight School a school for children with autism and president of the Autism Resource Centre, gave up
      393 words
    • Article
      Lock icon Vantage CEO succeeds in takeover bid at last
      371 4  -  By DANIEL BUENAS VANTAGE Corp chief executive Kea Kah Kim has succeeded in his takeover bid after securing almost 60 per cent of the cash-rich company, thus bringing the much-watched Vantage takeover saga Jo a close. Vantage said yesterday that the offer
      371 words
    • GRAPEVINE
      • Article
        Lock icon Service with a dial
        83 4 WALK into HSBC Bank's Tanglin branch in Claymore Hill and you're likely to see that the person at the reception is a perky young lady wearing a pillbox hat more associated with hotel bellhops or a certain airline's stewardesses. Yet the service is not exactly what
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      • Article
        Lock icon Where stocks abound
        78 4 THE New York Stock Exchange is a fortress these days, barricaded and surrounded by police. New York is taking no chances, because the NYSE is seen to be a prime target for terrorists after the Sept 11 attacks on the World Trade Centre. Tourists and the public
        78 words
    • Article, Illustration
      Lock icon SingTel on the prowl for 'sensible' investments
      382 4 Reuters SINGAPORE Telecommunications Ltd, Asia's fifthlargest phone firm, could raise stakes in existing investments alongside a hunt for regional acquisitions, chief executive Lee Hsien Yang said yesterday. Sing Tel, the city-state's largest listed company with a market value of U5526.3 billion, has spent
      Reuters  -  382 words
    • Article
      Lock icon Centrepoint raising $330m via equity financing
      220 4 FRASER Neave yesterday said its fully-owned property unit, Centrepoint Properties, is raising $330 million in equity financing by issuing preference shares to DBS Bank. The deal will provide Centrepoint with an alternative source of funding to repay existing borrowings and for general working capital
      220 words
    • Article, Illustration
      Lock icon New CEO could revive interest in WBL
      864 5  -  NEWS ANALYSIS Group wants to bring its core businesses into sharper focus, JEAN CHUA reports JEAN CHUA WHEN WBL Corp called for a meeting with analysts and reporters to discuss its third-quarter results last week at OCBC Centre, more than 20 people showed
      FILE PHOTOS  -  864 words
    • COMPANY BRIEFS
      • Article
        Lock icon Darco Water units win orders worth $8m
        150 5 SESDAQ-LISTED Darco Water Technologies said its subsidiaries had secured about $8 million in new contracts over the past six weeks. The company said the contracts—which are to be completed within FY2005 -j- are f° r s °lid waste, £Ure water and waste water
        150 words
      • Article
        Lock icon Luxking Group's IPO 1.2 times subscribed
        56 5 LUXKING Group Holdings, a vertically integrated adhesive tape manufacturer from China, said its initial public offering (IPO) of 65 million shares was 1.2 times subscribed. The issue, comprising six million public shares and 59 million placement shares, was priced at 20 cents a share.
        56 words
    • Article, Illustration
      Lock icon Traders look to N-Day Rally address
      494 5  -  STOCKS VEN SREENIVASAN Senior Correspondent THE Singapore stock market continued to dribble sidewards in thin trading as traders cast a wary eye on stubbornly high oil prices and waited for the weekend National Day Rally speech by Prime Minister Lee Hsien Loong. The benchmark
      494 words
    • Article
      Lock icon China Pacific eyes new investors as Carlyle waits
      429 5 Reuters [SHANGHAI/HONG KONG] China Pacific Insurance (Group) Co, the country's third-largest insurer, is in talks with other potential investors as it awaits approval on a stake sale to the Carlyle Group, sources close to both firms said yesterday. China Pacific chairman Wang
      Reuters  -  429 words
    • Article
      Lock icon k1 to sell Gasco to Macquarie for US$238m
      311 5  -  By CHEN HUIFEN MAINBOARD-LISTED kl Ventures said yesterday it has struck a deal with Macquarie Infrastructure Company (MIC) to sell the whole of The Gas Company of Hawaii (Gasco) for US$23B million cash twice the US$ll9 million it paid for the utility
      311 words
    • Article, Illustration
      Lock icon Hartford turns around with over $327,000 profit
      307 5  -  By NANDE KHIN HARTFORD Holdings a subsidiary of mainboardlisted Raffles Education Corporation has swung back to the black, achieving a net profit of $327,429 for its full year ended June 30, against a net loss of $770,346 in the preceding year. The turnaround
      307 words
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  • Page 5 Advertisements
    • Advertisement
      Lock icon Page 5 Advertisements Column 1
      27 5 Art lessons, anyone? Paint your own story by drawing out an art lesson or two from Class 21 today! I 3 Buy it M it rind it
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      Lock icon Page 5 Advertisements Column 2
      135 5 gfHHE Cifl tofi-ine IMO 299 8822 fc »otict»f »ph.com>j: IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND FLEXITECH PRODUCTS PTE LTD (Co. Reg. No. *****1376E) (In Members' Voluntary Winding-Up) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Company Act, Cap. 50
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  • PERSONAL INVESTMENT
    • Article, Illustration
      Lock icon BROKERS' TAKE
      894 6  -  Compiled by JOYCE KOH GES International Aug 19 dose: 85 cents MERRILL LYNCH, Aug 19 GES reported FY4Q05 results in line with our expectations. Net profit increased 23 per cent y-o-y (37 per cent q-o-q) to $13.5 million on strong operating margins. GES declared a higher final dividend
      Source: Bloomberg  -  894 words
    • Article, Illustration
      Lock icon Inspiring people in an eventful journey
      1722 6  -  SHOW ME THE MONEY Words of wisdom and encouragement from readers light up one's professional life TEH HOOI LING Senior Correspondent HOW time flies! This column has been running for about three-and-a-half years. I still remember pitching the idea of this column to my
      1,722 words
    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      917 6 For week beginning Aug 15 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Subsantial Buy No of Mt. SHAREHOLDING Trans Shartholder Shara» Per Mori "J* Stock Date Director Con* 000 Shf S (000) Adv Integrated Mfg 18-Aug-05 Tan Kim Yong Buy 1000 0.21 4755 0.72 5755 0.88 Eastern Hldgs 18-Aug-05 TayThianNoon
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  • BT INVESTMENT ROUNDTABLE
    • Article, Illustration
      Lock icon Ringgit revolution
      2918 7 OVERVIEW AFTER almost seven years of currency certainty under a fixed peg of RM3.80 to a US dollar, Malaysia last month moved towards a managed float, operating its exchange rate against a basket of unspecified currencies. Bank Negara is expected to continue intervening in the market to ensure
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  • SINGAPORE NEWS
    • Article
      Lock icon Wal-Mart retail chain to stock eSys PCs
      501 8  -  It will provide a boost to efforts to build its own brand of PCs in Europe By AMIT ROY CHOUDHURY SINGAPORE-BASED eSys Technologies will soon have its eSys brand of personal computers (PCs) sold at one of the UK's leading supermarket chains, ASDA,
      501 words
    • Article, Illustration
      Lock icon Korea-S'pore FTA will boost trade
      599 8  -  Reports by UMA SHANKARI WITH the Korea-Singapore Free Trade Agreement (FTA) signed earlier this month, service sectors in both countries are likely to see the highest level of collaboration, Korea's ambassador to Singapore said. "Singapore's manufacturing sector is not that big, but it has an
      CHRIS LOH  -  599 words
    • Article
      Lock icon Seminar on sponsorship to be held at Meritus Mandarin
      151 8  -  By ALEXANDRA HO CORPORATIONS and organisations looking to enhance their image and market their products through sponsorship could pick up some tips at a coming seminar on sponsorship called the Power Sponsorship Conference. From Sept 1 to 2, eminent speakers will
      151 words
    • EXECUTIVE MOVES
      • Article
        Lock icon Michael Tay is ED of The Hour Glass
        30 8 MICHAEL Tay has been appointed an executive director of watch retailer The Hour Glass. Before this, he was its deputy general manager.
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      • Article
        Lock icon HYPERION appoints MDfor Asean, India
        56 8 BUSINESS management software company Hyperion has appointed Suganthi Shivkumar managing director to take care of the company's Asean and India operations. Before this, she was the Asean sales director for Hyperion Solutions Asia. As MD, Ms Shivkumar will oversee the business and sales direction of
        56 words
      • Article
        Lock icon Agnes Quek joins EuroFin Asia
        34 8 STRUCTURED trade and project finance adviser EuroFin Asia has appointed Agnes Quek as its Singapore senior account manager. Ms Quek was previously with the Economic Development Board of Singapore.
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      • Article
        Lock icon ESPN Star appoints senior director
        59 8 SPORTS Broadcaster ESPN Star has appointed Harvey Davis as senior director of its event management team. Mr Davis, who was previously based in New York as the senior director of ESPN's International X Games division, will relocate to Singapore and report directly to Manu Sawhney,
        59 words
      • Article
        Lock icon Business Object's new HR manager
        62 8 BUSINESS Intelligence solutions provider Business Objects has appointed Leong Miew Cheng as its human resource manager for South Asia. Ms Leong will report to Fok Wai Leng, managing director for South Asia. She will be responsible for the recruitment, training and organisational development as well
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      • Article
        Lock icon Jenifer Zeigler is Intercontinental SVP
        47 8 INTERCONTINENTAL Hotels Group has named Jenifer Zeigler senior vice-president for the global brand management of the company. Ms Zeigler will lead the development of brand strategy and marketing for the Intercontinental Hotels Resorts brand, including the brand's worldwide advertising and promotion activities.
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      • Article
        Lock icon CNBC appoints SVP for Greater China
        55 8 CNBC has appointed Charles Lei as senior vice-president of its Greater China operations. He will be responsible for strategic planning, revenue generation, business development, and building and managing relationships with relevant Chinese government agencies, local partners and advertisers. Mr Lei will also be overseeing
        55 words
    • Article
      Lock icon Korean ambassador hopes for closer ties
      192 8 FORMAL economic ties are just the first step to closer integration between Singapore and Korea on all fronts, Korean Ambassador Ryu Kwang-sok hopes. Although the two countries have excellent economic ties, most Singaporeans know little about his home, the ambassador feels. "Korean dramas such
      192 words
    • Article
      Lock icon IDA expands executives' portfolios
      167 8  -  By RAJU CHELLAM THE Infocomm Development Authority (IDA) said yesterday it has expanded the responsibilities of three of its senior executives to strengthen its industry development efforts. From Sept 1: Leong KengThai, now deputy chief executive and director-general (telecoms), will also oversee infocomm infrastructure development, manpower
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    • Article
      Lock icon Presidency in S'pore seems misunderstood
      652 8  -  LETTER TO THE EDITOR Chen Hwai Liang Press Secretary to Prime Minister THE Straits Times. Lianhe Zaobao and Today have in the past week published letters and commentaries on the Presidential Election. When lamenting the absence of a contest, several writers argued that the criteria
      652 words
    • Article
      Lock icon S'pore-Brunei pact a milestone in relations
      268 8  -  By NANDE KHIN SINGAPORE and Brunei signed a pact yesterday to eliminate double taxation for cross-border activities and the agreement "should pave the way for further bilateral trade and investment, and enhance the twoway flow of technology, talent, and expertise", said Minister for Foreign
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon Asia General buy: certainty of completion vital
      591 9  -  Southern Bank also offers a fair price for the insurer, say analysts By PAULINE NG in Kuala Lumpur CERTAINTY of completion helped Malaysia's Southern Bank to trump its rival bidders in clinching Asia General Holdings. While the cash bid of RM2.07 billion or
      591 words
    • Article, Illustration
      Lock icon Central bank to continue rupiah support
      408 9 Currency hits a 3-1/2 year low near 10,000 per dollar Reuters [JAKARTA] Indonesia's central bank yesterday said it will continue dollar-sell-ing intervention to support the ailing rupiah, even after the Chief Economic Minister said it was not effective and called for fuel subsidy cuts
      Reuters; AP  -  408 words
    • Article
      Lock icon M'sia to start cloud seeding in Indonesia
      319 9 AFP [KUALA LUMPUR] Malaysia will start cloud seeding in Indonesia's Sumatra and Kalimantan provinces next week amid warnings that the haze crisis caused by forest fires there could flare up again, a minister said yesterday. Science, Technology and Innovation Minister Jamaluddin Jarjis said
      AFP  -  319 words
    • NOTE BOOK
      • Article
        Lock icon Indonesia to finalise Cepu project with Exxon in Sept
        70 9 Reuters [JAKARTA] Indonesia will finalise the US$2 billion Cepu oil project with Exxon Mobil Corp in early September after replacing the chief of state oil company Pertamina, a government spokesman said yesterday. Widya Purnama, president director of Pertamina, had wanted his
        Reuters  -  70 words
      • Article
        Lock icon PLN signs initial natural gas supply deal with PetroChina
        111 9 Reuters [JAKARTA] Indonesi&n state electricity firm PT Perusahaan Listrik Negara (PLN) has signed an initial natural gas supply deal with PetroChina as the country aims to cut the use of oil for generation, the energy watchdog said yesterday. The Chinese company
        Reuters  -  111 words
      • Article
        Lock icon Newmont says indictments filed against it are flawed
        80 9 AFP [MANADO, Indonesia] US mining giant Newmont which is battling charges that it dumped toxic waste in a high-profile legal case said yesterday that indictments filed against it were flawed and should be dropped. Lawyers for Newmont Minahasa Raya, the Denver-based mining
        AFP  -  80 words
      • Article
        Lock icon Hong Leong Bank may report 43% increase in Q4 profit
        64 9 Bloomberg [KUALA LUMPUR] Hong Leong Bank Bhd, Malaysia's sixth-largest lender, may say fourth-quarter profit rose 43 per cent as it set aside less money to cover bad loans and earned more fees. Net income probably rose to RM134.2 million (5559.4
        Bloomberg  -  64 words
      • Article
        Lock icon Shenzhen Development Bank posts 10% slide in Q2 earnings
        65 9 Reuters [SHANGHAI] China's Shenzhen Development Bank Co Ltd posted yesterday a 10 per cent slide in second-quarter earnings on near-flat revenue as the smallest of five domestically listed lenders raised provisions for bad loans. Shenzhen Bank reported 53.36 million yuan (S$
        Reuters  -  65 words
      • Article
        Lock icon ICBC's overseas units report 27.5% jump in H1 profits
        90 9 Reuters [BEIJING] Overseas units of Industrial and Commercial Bank of China (ICBC), the country's biggest commercial lender, posted a 27.5 per cent jump in after-provision profits in the first half of 2005, the Financial News said yesterday. The bank's overseas branches
        Reuters  -  90 words
      • Article
        Lock icon Qingdao Haier's Q2 profit drops 17% on rising costs
        65 9 Bloomberg [SHANGHAI] Qingdao Haier Co had a 17 per cent drop in second-quarter profit as raw material costs rose and competition intensified. China's biggest home-appliance maker and exporter had net income of 85.1 million yuan (Ssl 7.5 million) from 102.5 million
        Bloomberg  -  65 words
      • Article
        Lock icon Disney to probe claims about conditions at China plants
        82 9 Reuters [LOS ANGELES] Walt Disney Co said it will investigate claims by a labour rights advocacy group of unsafe conditions at Chinese factories that make books for Disney. The National Labour Committee said the factories forced employees to work 10- to
        Reuters  -  82 words
    • Article
      Lock icon BURSA MALAYSIA
      4 9 Source: Reuters
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  • GREATER CHINA
    • Article
      Lock icon China Merchants Bank plans to sell bonds
      438 10 Up to 15b yuan will be raised to boost capital for expansion Bloomberg [SHANGHAI] China Merchants Bank Co, the nation's biggest publicly traded lender, said it plans to raise as much as 15 billion yuan (Ss3.l billion) selling bonds to bolster capital for
      Bloomberg  -  438 words
    • Article, Illustration
      Lock icon US firms face unfair China hurdles: Schumer
      247 10 Bloomberg [WASHINGTON] US banks, aircraft and automobile companies face unfair restrictions on their ability to invest in China. US Senator Charles Schumer said in a report released by his office on Thursday here. Those limits require partnerships with Chinese companies that can result
      Bloomberg  -  247 words
    • Article
      Lock icon China set to unify standards for tax breaks by Oct 1
      263 10 Aim to end special treatment for foreign firms Reuters [SHANGHAI] China will make it easier for foreign and local firms to apply for tax breaks by October and unify criteria for doing so, a potential step towards scrapping long-standing
      Reuters  -  263 words
    • Article
      Lock icon SGX MAINBOARD
      6 10 Transaction date: Aug 19
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    • Article
      Lock icon Shares of SCMP fall to ninemonth low
      176 10 Bloomberg [HONG KONG] Shares of SCMP Group Ltd, which publishes Hong Kong's largest English-language daily, fell to a nine-month low on profit concerns after the city dropped a rule requiring companies to place announcements in newspapers. The stock closed 2.3 per cent lower
      Bloomberg  -  176 words
    • Article, Illustration
      Lock icon China keeps market on edge over oil stocks
      538 11 An opaque, stop-start stockbuild could distort demand for years to come Reuters [BEIJING] China's erratic oil demand growth may offer more unpredictable twists and turns after this month as Beijing considers how and when to fill the first tanks of its newly
      Reuters  -  538 words
    • Article
      Lock icon SGX
      1235 11 Transaction Date: Aug 19 MOST ACTIVE STOCKS VOLUME VALUE K1 Ventures 10c 51.006.000 DBS Grp 80,066.600 Bio-Treat HK40c 34,027.000 CapitaLand 38.083.999 LMAUSO.OIc 20.928.000 Bio-Treat HK40c 29.63S.37S Accord Customer 2.5c 18.143.000 OCBCBkSOc 21.809.400 AirOcean 5c 15.338.000 LMAUSO.OIc 17.330.005 IPC Corp 20c 15.067.000 UOB 17.127.900 CapitaLand 13.163.000 SingTel 15c 16.849.314 SembKimtrans
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  • INDIA
    • Article, Illustration
      Lock icon New BSE rises, but will change bring tidings?
      389 12 130-year old Mumbai exchange assumes new corporate structure [MUMBAI] Bhanukumar Fozdar, a 75-year old, fourth generation broker, would like to forget August 18, 2005 quickly. Moments after the Bombay Stock Exchange members gathered at the BSE Convention Hall to approve a resolution
      AFP  -  389 words
    • Article
      Lock icon Tata Motors unit to buy UK's Incat for £53.4m
      358 12 Tata Technologies expects deal to give it greater scale [MUMBAI] India's top vehicle maker Tata Motors Ltd said on Thursday its unit has agreed to buy UK engineering and design firm Incat Technologies Inc, giving it greater scale in North America,
      358 words
    • Article
      Lock icon Way clear for S'pore firm to buy Flextronics
      216 12 Economic Times [NEW DELHI] Decks have been cleared for Singa-pore-based Flextronics Sales and Marketing (FSML) to acquire a 100 per cent stake in Flextronics Software Systems (FSSL). According to sources, the government has given its go-ahead to the Flextronics proposal to delist
      Economic Times  -  216 words
    • Article
      Lock icon India's trade will touch US$500b in 3 years: minister
      308 12 The Economic Times [NEW DELHI] India's external trade will touch US$5OO billion in three years, Union Commerce and Industry Minister Kamal Nath said on Tuesday. According to current estimates, merchandise trade during 2005-06 would be US$25O billion comprising imports to the
      The Economic Times  -  308 words
    • Article
      Lock icon UNIT TRUSTS & FUNDS
      42 12 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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      Lock icon Page 12 Advertisements Column 1
      24 12 PIMCO Global Real Return Fund a fund that is hedged against global inflation. Allianz Rated 5-star by Mercer Investment Consulting Global investors (.omjMnyrefji.no 199M0/169Z
      24 words
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  • ASIA-PACIFIC/WORLD
    • Article, Illustration
      Lock icon Oil price forecasts raise cost concerns Crude reality
      731 13 Investment bank forecasts pull down Asian stocks, growth estimates Bloomberg [TOKYO] Two major US investment banks Goldman Sachs Group and Merrill Lynch have raised their oil-price forecasts, renewing concern fuel costs will slow economic growth and hitting Asian stocks in the wake.
      Bloomberg  -  731 words
    • Article, Illustration
      Lock icon Oil above US$60 may cut growth to 4.5%: Asean head
      516 13 Member countries are horrified by high price, he says Bloomberg [JAKARTA] Economic growth Among members of the Association of Southeast Asian Nations (Asean) may slow to 4.5 per cent this year from last year's 6.2 per cent if the price
      Bloomberg; AFP  -  516 words
    • WORLD WATCH
      • Article
        Lock icon US Budget deficit to shrink to US$331b
        100 13 The Washington Post [WASHINGTON] The US federal Budget deficit will shrink this year to US$33l billion from the record US$4l2 billion last year, largely because of surging tax payments in a strong economy, the Congressional Budget Office forecast. The deficit estimate for the
        The Washington Post  -  100 words
      • Article
        Lock icon Murdoch sights more Internet targets: report
        135 13 INEW YORK] Rupert Murdoch has put another Internet company IGN Entertainment besides Blinkx on News Corporation's list of desired acquisitions, the Financial Times said citing people familiar with the company's plans. IGN, a video gaming company considering an initial public offering or a sale,
        135 words
      • Article
        Lock icon US SEC charges 8 more in Reebok insider case
        140 13 Reuters [NEW YORK] Eight more people were charged on Thursday by US authorities with insider trading in Reebok International share options, among them David Pajcin, an ex-broker from New Jersey who is the nephew of a retired Croatian woman initially targeted
        Reuters  -  140 words
      • Article
        Lock icon Morgan Stanley names new investment bank head
        88 13 Bloomberg [NEW YORK] Morgan Stanley, the world's biggest securities firm, promoted Walid Chammah to head of investment banking, naming a permanent replacement for a position vacated when Terry Meguid quit in April. Mr Chammah, 51, has been New York-based Morgan Stanley's head of
        Bloomberg  -  88 words
      • Article
        Lock icon Pressure grows on EU over Chinese textiles
        95 13 AFP [BRUSSELS] Pressure was growing on the European Union's executive commission yesterday to review a broad June textile agreement with Beijing after a new quota was breached and others looked set to be surpassed. A spokesman for the commission said that women's blouses,
        AFP  -  95 words
    • Article
      Lock icon Buffett believes oil prices have peaked: report
      172 13 AFP [HONG KONG] Commodity strategists are forecasting further rise in oil prices but billionaire investor Warren BufTett begs to differ. He believes crude oil prices have peaked and is considering selling his two billion shares in PetroChina, China's biggest oil company, a report
      AFP  -  172 words
    • Article
      Lock icon Asia needs efficient use of forex reserves: economist
      310 13 Reuters [SEOUL] Asian countries should consider using their growing foreign exchange reserves more efficiently rather than just buying US Treasury bills, an influential Chinese economist said yesterday. Asian nations, which control more than two-thirds of world's foreign exchange reserves, have heavily invested
      Reuters  -  310 words
    • Article
      Lock icon US ad campaign attempts to repair tuna's reputation
      470 13 NYT [NEW YORK] For much of the last three decades, canned tuna fish has been America's favourite seafood and a trusted staple of kids' lunches. Those days, however, are over. As awareness has increased about the high levels of mercury in some
      NYT  -  470 words
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  • WORLD
    • Article, Illustration
      Lock icon London dresses up to lure tourists and shoppers
      597 14  -  Fireworks, ad blitz and price cuts aim to counter impact of July 7 bombings By NEIL BEHRMANN In London THE London authorities, along with the UK tourist and hotel and retail industries, have embarked on extensive events, promotions and price cutting to
      REUTERS  -  597 words
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      Lock icon Hilfiger sale may not fetch premium price
      394 14 NYT [SINGAPORE] perhaps Tommy Hilfiger's new reality TV series, The (?irt*should be renamed The Sale. Tommy Hilfiger, which was founded by the designer of the same name, has hired JP Morgan Chase Co to run an auction for the business, executives close to
      NYT  -  394 words
    • Article
      Lock icon Disney adds a qualifier for serving on its board
      388 14 AP [NEW YORK] The Walt Disney Co took additional steps on Thursday to strengthen the governance of its board and, in effect, become more shareholder-friendly. Under a provision adopted by the board, if shareholders withhold a majority of their votes from
      AP  -  388 words
    • Article
      Lock icon Hedge fund industry dips in second quarter
      460 14 Rich clients pull out due to low returns, say analysts Reuters [BOSTON] The global hedge fund industry shrank slightly in the second quarter as wealthy investors protested against funds' meagre returns by pulling money out. The hugely popular, loosely regulated industry recorded US$l.O6
      Reuters  -  460 words
    • Article
      Lock icon Pimco sued for alleged tampering of bond futures
      308 14 Bloomberg [NEW YORK] Manager of the world's biggest bond fund Pimco has been sued by an investor alleging the firm manipulated the price of June 10-year Treasury futures contracts on the Chicago Board of Trade. Raymond Chiu claims Pacific Investment Management Co
      Bloomberg  -  308 words
    • Article
      Lock icon Conrad Black confidant indicted over US$32m fraud: report
      394 14 Another former Hollinger exec, investment firm also charged [WASHINGTON] Conrad Black's closest confidant and an investment company that was controlled by the British peer were on Thursday indicted on US criminal charges alleging a US$32 million fraud, the Financial Times reported. A
      394 words
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  • MOTORING
    • Article, Illustration
      Lock icon Driven by speed
      1040 15  -  DRIVING STYLE GEOFFREY EU profiles avid racer Khoo Kay Hong about his high-speed pursuits and his dozens of classic and vintage cars GEOFFREY EU THIS time next week, Khoo Kay Hong will be strapped into a racing harness behind the wheel of his Lotus 340R, driving hard
      ARTHUR LEE  -  1,040 words
    • Article, Illustration
      Lock icon High on features, low in cost
      558 15  -  SAMUEL EE checks out two Suzukis, the Grand Vitara and the Indonesian-made Suzuki APV SAMUEL EE WHEN once it languished with ageing models of unabashedly bland design, Suzuki has managed to radically refresh its line-up. The rejuvenation of the brand started late last year
      558 words
    • Article, Illustration
      Lock icon Classic Beetles line up for charity
      282 15  -  By SAMUEL EE FRESH from its National Day Parade drive-by, Volkswagen will embark on another high-profile event tomorrow. But this time, the focus will be on a much older model. A convoy of 120 original VW Beetles will wind their way to Orchard Cineleisure
      282 words
    • Article, Illustration
      Lock icon Small on the outside, big on the inside
      333 15 HOW often have we stumbled onto a contrast as startling as a facade which doesn't quite match the interior? What looks like an old conservation shophouse on the outside can sometimes reveal cool, ultramodern innards of steel and glass. The Suzuki APV
      333 words
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  • GOLF
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      Lock icon Houses on the edge
      1256 16  -  For golfers and non-golfers alike, to own a home with a golf course as its backyard is more than an investment, says JUSTINE MOSS JUSTINE MOSS OWNERSHIP of a piece of real estate overlooking a favoured golf course would have to be near the top of
      FILE PHOTOS  -  1,256 words
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      Lock icon Top golfers to descend on Sentosa
      194 16  -  By VEN SREENIVASAN SOME of the world's top golfers will compete next month in an event aimed at putting Singapore and Sentosa Island on the world map. Big names taking part in the Singapore Open at Sentosa's Serapong Course include world No 7 Adam
      ARTHUR LEE  -  194 words
  • Page 16 Miscellaneous
    • Miscellaneous
      Lock icon Page 16 Miscellaneous Column 1
      205 16 CRYPTIC CROSSWORD plante? (8) 29 Playgoer not unknown per- 8 Scrutinised place where hors- 26 Not a jolly type (4) forming in arched structure es are kept that is dirty initially 3 (7) YESTERDAY'S SOLUTION nouuiu 11 Irishman went round and Across: 6 Fluttered 7 Stain, 10 DUVVN keDtwatch(9) Venison,
      205 words
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  • WELLNESS
    • Article, Illustration
      Lock icon Using HRT drugs wisely
      1354 17  -  Menopausal women need not be hung up on HRT drugs despite claims that they increase breast cancer risks, reports CHEAH UI-HOON CHEAH UI-HOON T| HREE years ago, menopausal women and women in general got a scare when a landmark US-based Women's Health Initiative study claimed that
      1,354 words
  • Page 17 Advertisements
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      Lock icon Page 17 Advertisements Column 1
      410 17 wine&dine with weekendßT Savour a variety of over 20 different curry dishes at Curry Favor, like the ever popular Beef Stewed Curry and the newly introduced Stuffed Mushroom Curry. Fook Yuen Seafood Restaurant #02-l9Rtkffles City Shopping Centre. Tel: *****661. Enjoy authentic Hong Kong-styled Cantonese cuisine for lunch and dinner. Dim-sum
      410 words
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      Lock icon Page 17 Advertisements Column 2
      203 17 wines according to their needs. The selection cattfsfo newcomer* and connoisseurs alike at prices to match ail budgets. Le Vigne has been cited many times over for their value at all quality levels and for their recommendations that cater to individual taste. Marftus Mandarin Singapore T 1 333 Orchard Road.
      203 words
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      182 17 of coffwftM/softdrinki daily Lunch*Mori to Fri, 12pm to 2.30pm. High Tea: Sat Sun and public holidays, 12.30pm to spm. Dinner, daily 6.30pm to 10.30pm. I Raffias Marina 10 Tuas West Drive. TeU *****288 Can't get enough of those huge, luscious, juicy prawns? Then Wok-Baked King Prawns with Black Pepper. Avalabte
      182 words
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  • SHOPPING
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      Lock icon Scent-sual
      639 18  -  CORINNE KERK smells out what's in store for the young urban cosmetics customer CORINNE KERK FRAGRANCES have been a key product category for cosmetic companies for years. And despite a proliferation of new perfumes from cosmetic brands and fashion designers to Hollywood celebrities it seems consumers are far from
      639 words
    • Article
      Lock icon Perfume basic you should know
      664 18  -  By CORINNE KERK Difference between Eau de Parfum, Eau de Toilette and Eau de Cologne ♦A perfume is a combination of raw materials to which specific quantities of perfume or essential oils, alcohol and water are added. "And most perfumes are a combination of natural
      664 words
    • Article, Illustration
      Lock icon TRY OUT THE LATEST
      710 18  -  Sniffing around for a new fragrance? Here are some recent and upcoming releases Compiled by CORINNE KERK Silver Rain by La Prairie THIS is La Prairie's first fragrance and is inspired by alpine glaciers where rain transforms itself into silverised ice crystals. In spring, these ice
      710 words
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  • PERSONAL SPACE
    • Article, Illustration
      Lock icon Where East meets West
      985 19  -  GEOFFREY EU peeps into a house that encourages a relaxed approach to modern living GEOFFREY EU WHEN author and poet Rudyard Kipling famously wrote that "East is East and West is West, and never the twain shall meet", he clearly didn't have multicultural Singapore in mind.
      CHRIS LOH  -  985 words
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  • THE BUSINESS TIMES weekend
    • Article, Illustration
      Lock icon No frills, but celestial
      1516 20  -  One of the joys of living in Singapore is that there's no lack of top-class food even in corner shophouses, says GEOFFREY EU GEOFFREY EU HHBHI hanks to the likes of Anthony Bourdain, Makansutra and other culinary ambassadors whose reach extends beyond our shores, going for
      CHRIS LOH; GEOFFREY EU  -  1,516 words
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