The Business Times, 23 August 2005
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2005-08-23
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The Business Times
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Title Section15 2005-08-23 1 THE BUSINESS TIMES Tuesday, August 23,2005 MICA (P) 089/03/2005 SINGAPORE 85 cents online at http://business-times.asial.com.sg15 words
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517 2005-08-23 1 DANIEL BUENAS - Reactions to PM Lee's Rally speech Economists also impressed by PM's decision to chair RIEC By DANIEL BUENAS [SINGAPORE] Upbeat, inspiring and an astute plan to remake Singapore as a global city that was the response of economic and political observers517 words
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634 2005-08-23 1 DANIEL BUENAS - Big companies upbeat on China, but not so the smaller businesses By DANIEL BUENAS [SINGAPORE] Bigger companies believe the China market offers the brightest business prospects for the next six months, but smaller businesses are more optimistic about Indonesia and Malaysia. In the634 words
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Advertisement102 2005-08-23 1 STEPPING DOWN Malaysia Airlines 41f\ 'y\T^)r Past p/esent \^&future^ <• For lovers of timepieces, there is ah event this Friday that is not to be missed The Business Times annua! watch supplement. Running into 72 pages and covering nearly 70 watch brands, it is a treat to savour and to102 words
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Advertisement19 2005-08-23 1 CORPORATE NEWS ComfortDelGro takes over Aussie bus operator PG6 8 Markets Digest on Pg 2 jTTTTT^B I7!IT^S PAGE 2819 words
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Advertisement133 2005-08-23 1 SME SPOTLIGHT magm Union Steel shows its mettle COMMENTARY Mediaßinggets a new call PG6 Michelangelo Tradition Craftsmanship Innovation i ■HHUHHHHHHHHHHHHHH MHHHHHHHHRHHIHBHHIHH Michelangelo Gigante A testimonial of over 150 years of mechanical watchmaking. Chronometer with OFFICIAL RATING CERTIFICATE ISSUED BY THE SWISS OFFICIAL CHRONOMETER TESTING INSTITUTE. Self-winding movement featuring an authentic133 words
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TOP STORIES
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Article, Illustration703 2005-08-23 2 CHEN HUIFEN - REACTIONS TO PM LEE'S RALLY SPEECH But they stress need to overcome obstacles such as 'IBM mentality' By CHEN HUIFEN [SINGAPORE] Companies with research activities welcomed the R&D reforms outlined by Prime Minister Lee Hsien Loong in his National Day Rally703 words
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421 2005-08-23 2 NANDE KHIN - PSE accounts, early completion for two ITE colleges By NANDE KHIN [SINGAPORE] Major announcements on post-sec-ondary education were made yesterday in line with Prime Minister Lee Hsien Loong'tf'vision to create a systert which offers first class education to all and not just421 words
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Article77 2005-08-23 2 IN our report, "Unusual transactions prompt CAD probe on NKF: minister" (BT, Aug 20), we wrongly said that KPMG had been NKF's auditor since 1999. It's PricewaterhouseCoopers that has been NKF's auditor since 1999. And in the report, "Interim board of NKF calls in CAD" (BT, Aug 19), we77 words
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Article138 2005-08-23 2 STI 2.300.95 (+14.59) ST INDEX FUTURES 2,295.00 (+15.00) SIMSCI 273.18 (+2.13) SIMSa FUTURES 272.70 (+2.00) MARKETS Monday Change K15EC0MP 923.97 -1.57 NIKKEI 225 12,452.51 +160.78 HANG SENG 15,218.63 +180.02 SET INDEX 690.77 +9.94 JAKARTA COMP 1.076.35 -11.60 MANILA COMP 1.963.37 -2.96 SEOULCOMP 1.116.68 +26.80 SHENZHEN 8 231.98 +1.38138 words
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574 2005-08-23 2 ARTHUR SIM - By ARTHUR SIM [SINGAPORE] Plans to reinvigorate the city centre have generated "the buzz". But it's plans to renew Housing Development Board estates that will benefit more people. "This is where the people live and where we want to keep the living574 words
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Article576 2005-08-23 2 S'pore goes all out to woo ExxonMobil plant SINGAPORE is pulling out all the stops to draw a new multi-billion-dollar petrochemical investment by the world's largest oil company. In order to accommodate the building of ExxonMobil's planned second world-scale petrochemicals complex here, Jurong Town Corporation is realigning a576 words
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88 2005-08-23 4 THE defamation suit brought against Singapore Press Holdings by Patrick Gan, former CEO of Tiger Airways, over a Business Times article "Tiger Airways CEO May Be Bowing Out" published on October 22, 2004, has been settled amicably. As a gesture of goodwill and88 words
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575 2005-08-23 4 RONNIE LIM - Highway on Jurong Island to be re-aligned to accommodate possible project By RONNIE LIM [SINGAPORE] Singapore is clearly pulling out all the stops to attract a new multi billion-dollar investment by the world's largest oil firm. In order to accommodate the building575 words
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301 2005-08-23 4 NANDE KHIN - Agreement between ICPAS and ACCA aimed at boosting global mobility of practitioners By NANDE KHIN [SINGAPORE] Accountants here signed an agreement yesterday that will enhance thenrecognition overseas. The agreement between the Institute of Certified Public Accountants of Singapore (ICPAS} and the internationally recognised Association301 words
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Advertisement13 2005-08-23 2 The Straits Times Recruit The first step on your ladder to success o13 words
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Advertisement30 2005-08-23 4 BT ONLINE Access to BT Online is free after 6pm each day. But print subscribers can access our online nevys anytime. Call 6388-3838 to subscribe and activate your online account30 words
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Advertisement423 2005-08-23 5 *< Hfp|p"™;' n v ""C T W 1 £jL' >• '1 ■.■i»i»lmm.S».ii» ;'r* r y3|)R Vr»- 1 j,'f 4 1 T> I •j i i Exactly how flexible is your IT system? J» I r\ Make sure your IT system can adapt to fit any servers. Not only does this423 words
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COMPANY NEWS
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437 2005-08-23 6 SAMUEL EE - Joint venture to acquire Westbus' businesses, assets for A$106.7m By SAMUEL EE MARKING its first foray into Australia, ComfortDelGro Corporation is acquiring a western Sydney bus operator through a joint venture that could significantly accelerate its goal of getting half of total revenue from437 words
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Article, Illustration243 2005-08-23 6 LISTED beverage maker Super Coffeemix has subscribed for 14.02 per cent of China Lifestyle Food and Beverages Group's public offer shares, while DBS Asset Management has taken up 10.28 per cent. China Lifestyle yesterday announced that Super Coffeemix is buyingAP - 243 words
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Article, Illustration545 2005-08-23 6 CHEN HUIFEN - By CHEN HUIFEN HOMEGROWN education group Informatics Holdings may not have come out of the woods yet but its franchisee in Nigeria is thriving as one of the best-known IT education brands in the country. Having started in 2000, the Nigerian operations is now Informatics' fastestgrowingCHRIS LOH - 545 words
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200 2005-08-23 6 NANDE KHIN - By NANDE KHIN STRAITS Trading's hotel management arm Rendezvous Hotels International, which has been on an expansion blitz in the region, yesterday agreed to provide pre-opening technical consultancy services to a hotel in China's Hainan Island. Rendezvous will also manage the hotel as200 words
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Article679 2005-08-23 6 RAJU CHELLAM - HOCK LOCK SIEW By RAJU CHELLAM ONCE upon a time, in the early days of this centuty, when the dotcom boom held sway in the world, a tiny Singapore startup took a concept to market. It offered to let companies and people make phone calls using679 words
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Article, Illustration349 2005-08-23 7 DONALD URQUHART - CORPORATE RESULTS Company expects further gains from offshore support vessel demand By DONALD URQUHART [SINGAPORE] Benefiting from the buoyant offshore sector, Jaya Holdings Ltd reported a full-year net profit of $86 million, up 86 per cent over the preceding year. Revenue wasFILE PHOTO - 349 words
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414 2005-08-23 7 Bloomberg SHARES of Neptune Orient Lines Ltd, the operator of Asia's second-largest'con-tainer line, fell as much as 4.9 per cent in intra-day trading yesterday over what analysts said were concerns about rising costs and overcapacity. Neptune Orient shares dropped as much asBloomberg - 414 words
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COMPANY BRIEFS
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79 2005-08-23 7 SINGAPORE Technologies Electronics, through a subsidiary, has injected C$500,000 (S$690,000) into PolarSat Holdings, in response to the latter's capital call for C$1.5 million to support its R&D activities. With the remaining C$1 million injected by other shareholders, ST Electronics' stake has been reduced from79 words
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Article54 2005-08-23 7 OVERSEA-CHINESE Banking Corp yesterday said that OCBC Asset Management (OAM) is now a wholly owned subsidiary of Straits Lion Asset Management (SLAM). As part of the merger, the two business groups have agreed to integrate their asset management operations by, inter alia, SLAM transferring its asset54 words
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355 2005-08-23 7 AMIT ROY CHOUDHURY - By AMIT ROY CHOUDHURY SYSTEM Access, which was listed on Sesdaq in June this year, has posted a 12 per cent jump in net profit to $7.4 million for its financial year ended June 30. Its maiden full-year results show turnover rose355 words
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474 2005-08-23 9 S JAYASANKARAN - Book-building prices way below RM2.30-2.50 range in last six months By S JAYASANKARAN in Kuala Lumpur THE share prices of Habib Corporation, a Malaysian jeweller in the midst of being transformed into a regional shipper after acquiring a fleet of ships from Singapore-listed marine474 words
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381 2005-08-23 9 [HONG KONG] Carlyle is poised to acquire 25 per cent of China Pacific Life Insurance (CPLI) for about USs4oom in one of the country's largest private equity deals, the Financial Times reported the chairman of the Chinese company's parent group as381 words
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Article, Illustration285 2005-08-23 9 FOREIGN DEALS [KOLKATA] India's top mobile services provider, Bharti Tele-Ventures, plans to spend about US$l billion in the business year to March 2006 to expand coverage in the world's fastest growing mobile market. Bharti, 30.8 per cent owned by Singapore Telecommunications, andAFP - 285 words
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Advertisement83 2005-08-23 6 I AUGUST 2005 V dishman 1 PHARMACEUTICALS AND CHEMICALS LIMITED. ei Dishman Pharmaceuticals and Chemicals Limited in the Republic of India with limited liability under the I Indian Companies Act, 1956 with Registration No. 04-6329) US$ 50,000,000 Foreign Currency Convertible Bonds due 2010 Issue Fully Subscribed The Bonds will be83 words
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Advertisement36 2005-08-23 7 r< j/Milliii, -Wbk ■ate?* --.i ib BHPwP silllllSf{lliltliiltlMilß^ff Effective interest rate is 4.25% p a. (as of 19th July 2005). Terms and conditions apply. Terms and conditions apply. Subject to Bank's approval. 065 Bonk °> "•b **********36 words
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SINGAPORE MARKETS
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Article, Illustration497 2005-08-23 8 VEN SREENIVASAN - STOCKS ST Index puts on 14.6 points to 2,301, supported by DBS Bank, Singapore Telecom and Singapore Airlines VEN SREENIVASAN Senior Correspondent SINGAPORE stocks yesterday kicked off the week on a positive note despite lingering concerns about high oil prices and lack of fresh leads.Source: Bloomberg - 497 words
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Article, Illustration722 2005-08-23 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Aug 22 and earlier) Subuntlal No of Price SHAREHOLDING Shareholder Buy I Shirt* Per Mora After Stodi Tram Data Director Sail |000 Shr < ('000) ('000) Tye Soon 22-Aug-05 OngHuatYew ST 1250 0.10 f1.23 1.58 2873 1.10 Hotel Plaza 22-Aug-05 UOL722 words
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216 2005-08-23 8 CHEN XUIFEN - Compiled by CHEN XUIFEN A SUBSTANTIAL shareholder of health services provider Asiamedic has been paring its stakes in the company last week through a number of sales on the open market. Silver Beads International sold 2.25 million shares between 12 cents216 words
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Article, Illustration542 2005-08-23 8 VEN SREENIVASAN - By VEN SREENIVASAN Micro-Mechanics Aug 22 dott: $0,455 OCBC INVESTMENT RESEARCH. Aug 22 MICRO-MECHANICS (MM)'s FYOS results were in line with our expectations. Sales were up 14.4 per cent y-o-y to $26.6 million (OIR forecast: $26.3 Jhillion), while net income rose per cent to $5.4 million (OIR rorecijpt:Source: Bloomberg - 542 words
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Article, Illustration483 2005-08-23 8 CURRENCIES Reuters AFP [SINGAPORE] Asian currencies rose yesterday, supported by rallying regional stock markets, a higher Japanese yen and a slight drop in global oil prices. The Indonesian rupiah was the exception to the trend. It hit a fresh 3 Vi -year troughReuters; AFP - 483 words
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Advertisement32 2005-08-23 8 I I Get a leading Edge I Your sailing schedules get wider attention in The Business Times shipping pages Call Joe Worqj at 6319-2062 or Bernard Ong at 6319-1 645 Shphng times32 words
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Advertisement462 2005-08-23 9 Footnotes 'Investors will have to hold their investments in the GreatUnk Choice for the entire policy term of 5 years before they may benefit from the 100% capital protection If investors realise their units before the fund the reaction pnce will be based on the prevailing net asset value which462 words
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SINGAPORE NEWS
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Article, Illustration652 2005-08-23 10 DANIEL BUENAS - Survey also shows performance of small firms has improved sharply By DANIEL BUENAS COMPANIES remain upbeat about business conditions for the next six months with more firms reporting an increase in new orders and businesses for the second quarter of this year, according to theSource: GBI - 652 words
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272 2005-08-23 10 THE domestic wholesale trade index surged 16.3 per cent in the second quarter over the same period last year as more petroleum and petroleum products were sold, according to the Department of Statistics (DOS). It was the sixth consecutive quarter of growth in domestic wholesale272 words
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218 2005-08-23 10 YOUNG people who want to do their bit for fellowf Singaporeans can now apply for a Young Change Makers (YCM) grant under a scheme initiated by the Ministry of Community Development, Youth and Sports. e The scheme provides seed funding of up to $3,000218 words
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266 2005-08-23 10 THE courts have temporarily banned former staff of rival derivatives brokers Tullett Prebon formed from the merger of Prebon Yamane and Tullett Liberty from crossing over to Cantor Fitzgerald. The Singapore High Court yesterday granted Tullett Prebon an injunction restraining five ex-em-ployees266 words
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757 2005-08-23 10 SingPower is one taking IPO route to raise money Reuters SEVERAL Asian power utilities are angling to list their Australian power assets acquired in recent years, aiming to lure investors with solid dividend yields in Asia's most developed electricity market. Singapore Power,Reuters - 757 words
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Article275 2005-08-23 10 SYNTHESIS, a new initiative from the Media Development Authority of Singapore (MDA) that is supported by Apple and Macromedia, aims to encourage original content creation made specially for the Web. To be launched on Thursday, Synthesis will support content for the Web such as275 words
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Advertisement185 2005-08-23 10 Diners Cl ub Card r..„*<jr64i6o9eo J3W.* World of Exclusive Privilege* Treats g Diners Chth u>tetc.Jrnerm.com.og fnternaOonai 1 1 \Y Here's Another Reason To Celebrate In Augusti Just In time for Singapore's 40th birthday. a freshly refurbished Plaza Brasserie (formerly Cafe Plaza) Is back with Its famous buffet featuring more Items185 words
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Advertisement65 2005-08-23 10 MERITUS MANDARIN SINGAPORE BUFFET DINING AT ITS BEST Fresh oysters, delectable lobsters, savoury honey-glazed ham, prime Hr rib of beef and many more mouth- BP watering dishes to leave you 9* spoilt for choice. Reservations: 6831 6271/72 |HI MEATUS MANDARIN tMU A division of Overseas Union Enterprise Limited (Company Registration65 words
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SME spotlight
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Article, Illustration798 2005-08-23 11 RACHEL LIN - The metals recycler has made a name for itself in providing an attractive working environment, says RACHEL LIN RACHEL LIN WHAT comes to mind when you mention a scrapyard? Well, forget the rusting metal parts and car' skeletons. Union Steel Holdings has turned that imageYEN MENG JIN - 798 words
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Article231 2005-08-23 11 SMALLER businesses worried about the cost of implementing more friendly working policies can now enlist the help of the Association of Small and Medium Enterprises (ASME). The association's Enterprise Development Centre (EDC@ASME) signed a memorandum of understanding with the Ministry of Manpower yesterday, pledging to help231 words
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Article, Illustration864 2005-08-23 12 KEOY SOO EARN - Complex processes could result in mismanagement and have an adverse impact on the bottom line, says KEOY SOO EARN KEOY SOO EARN AS enterprises grow and become more successful, organisational processes may become more complex by the day if left unchecked. For entrepreneurs facingBLOOMBERG - 864 words
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Article4625 2005-08-23 12 UNIT TRUSTS FUNDS CitiBond S'pore A/$ 1294/ CiUBood Sot B/t 1345/ Citi Money SGO Class A 1.0291/ ABN Amro Asut Mgt (S'pore) as Money Sfig Dotar Ctas I 1.0823/ S«arEi*opeEq«yl 0.837/ CM ParvEurope Equity Find 1.26/ Star Euope Bond -234 CibSdect Asia Tift Balanced 1.41/ Star Eiropt Bd 13» CitiSeicct4,625 words
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Article, Illustration775 2005-08-23 13 LISA TAN - SMALL CAPS Its business philosophy is centred on some key principles making more profits and better products, teamwork and having a social conscience, says LISA TAN LISA TAN CONSIDERING the political tension between China and Taiwan and with a management comprisingCHRIS LOH - 775 words
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Article, Illustration660 2005-08-23 13 LISA TAN - By LISA TAN SMALL ahd medium enterprises (SMEs) play a significant role .in many economies, particularly in job creation and contribution to economic growth. "Most economies in Asia are characterised by 80 to 90 per cent of SMEs. Of course,, it depends on howARTHUR LEE - 660 words
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Page 11 Advertisements
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Advertisement133 2005-08-23 11 We are honoured to receive Euromoneys recognition of our leadership in private banking. It testifies to our commitment to clients and excellence in wealth management. We look forward to continue being the trusted partner of our clients in Singapore as they think about future generations. To have your own dialogue133 words
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Advertisement18 2005-08-23 12 I- Allianz (Hi) PIMCO Global Bond Fund rated 5-star ★★★**!)y Mercer Investment Consulting Global investors company rejjn.no *****7169Z18 words
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Advertisement84 2005-08-23 13 Introducing simple, automated back up for small business servers JL I With automated backup software and r>o media to swap, the Maxtor One Touch™ II KI V Small Business Edition is the easiest way to protect your data. Simply connect the drive, install the software, and your data will be84 words
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ECONOMY WATCH
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Article, Illustration959 2005-08-23 14 Poll shows greater regard for cabinet after PM called for Sept 11 elections Bloomberg [HONG KONG] The yen gained after a poll showed rising approval for Prime Minister Junichiro Koizumi since he called for Sept 11 elections, and as Japanese stock indicesBloomberg; AP - 959 words
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Article, Illustration610 2005-08-23 14 AFP [BEIJING] China's rapidly widening income gap has reached dangerous levels and could trigger social instability by 2010 if the trend continues, a government report warned yesterday. "China's growing income gap is likely to trigger social instability after 2010 if the government findsAFP - 610 words
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Article330 2005-08-23 14 The central bank also forecast GDP growth of 9% AFP [SHANGHAI] China's economy will grow between 8 and 8.5 per centfrom 2006 to 2010, a considerable slowdown from two years of 9 per cent growth and above, state press reported yesterday, citing a government think-tank.AFP - 330 words
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Article, Illustration272 2005-08-23 14 Bloomberg [JAKARTA] Indonesia's rupiah weakened to 10,000, the lowest level since March 2002, after a newspaper said the government may raise its oil price estimate. Any increase in the government's assumption for the price of crude, which is priced in dollars, means importersBloomberg; AFP - 272 words
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351 2005-08-23 14 AFP [JAKARTA] New draft tax laws in Indonesia will see corporate income taxes slashed by five percentage points in 2010 and the ceiling on luxury taxes raised from 75 to 200 per cent, a report said yesterday. The ministry of finance's proposals will reduceAFP - 351 words
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195 2005-08-23 14 Reuters [NEW DELHI] India would have no alternative but to raise retail petrol and diesel prices if global crude oil prices continued to rise, Finance Minister Palaniappan Chidambaram was quoted as saying yesterday. The Press Trust of India (PTI) quoted MrReuters - 195 words
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MALAYSIA/INDONESIA
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Article, Illustration558 2005-08-23 15 PAULINE NG - Global search on for replacement; MAS posts Q1 loss of RM280.7m By PAULINE NG in Kuala Lumpur MALAYSIA Airlines managing director Ahmad Fuaad Dahalan "retired" yesterday, as the national airline reported a firstquarter after-tax loss of RM280.7 million (*****.2 million). Chairman Munir Majid has been put558 words
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198 2005-08-23 15 AP [LHOKSEUMAWE, Indonesia] Indonesia started withdrawing soldiers from war-torn Aceh province yesterday as part-of an agreement reached last week to end almost three decades of separatist fighting. More than 1,250 troops stationed near Lhokseumawe, the second largest city in Aceh, left port on navy vesselsAP - 198 words
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Article2362 2005-08-23 15 VOl General Corp 0.43 -0.01 140 Aug 22 KM COOO) Genting 19.50 -0.30 387 George Kent .0.61 0.02 2 A&M Realty 1.49 0.01 5 GHL Systems 0.17 -0.02 1390 Abric .0.38 unch 166 GlobetroniaTech .0.38 -0.02 1020 ACP Industries .0.67 -0.01 52 GlomacBhd 1.47 -0.03 75 Advance Synergy2,362 words
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Article, Illustration712 2005-08-23 15 SHOEB KAGDA - Major Indon wood firm counts on its solid credentials By SHOEB KAGDA in Jakarta INDONESIA'S forestry companies have not enjoyed the best of reputations in recent times, given the vast network of illegal logging that has damaged the country's forests and caused globalSource: Bloomberg - 712 words
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186 2005-08-23 15 [KUALA LUMPUR] Plantation giant, the Felda group, is believed to be on an acquisition trail for more plantation land bank abroad, the Star reported yesterday. A source close to Felda said the group was recently advised by the government to aggressively explore186 words
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Advertisement355 2005-08-23 15 HH CaS toU-frec 1800 289 8822 DEZS^=tssazL IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF ACADA (SINGAPORE) PTE LTD CO. REG. NO. *****4155Z (IN CREDITORS' VOLUNTARY LIQUIDATION) NOTICE OF RESOLUTION At an Extraordinary General Meeting of the abovenamed Company duly convened ond held af355 words
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GREATER CHINA/INDIA
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Article, Illustration794 2005-08-23 16 India's ONGC is reported to be making a rival bid Reuters Bloomberg AP [LONDON/SINGAPORE] State-owned Chinese oil company CNPC has agreed to buy PetroKazakhstan Inc for US$4.lB billion in China's largest foreign takeover but India's state-run company ONGC immediately said it was preparingReuters; Bloomberg; AP - 794 words
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Article, Illustration686 2005-08-23 16 Bloomberg [HONG KONG] Lawrence Ho, son of gaming billionaire Stanley Ho, is betting that his understanding of Chinese gamblers will help a planned HK$B billion (Ssl.7 billion) underwater casino fend off new entrants in Macau such as Las Vegas SandsBloomberg; APPLE DAILY - 686 words
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312 2005-08-23 16 AP [SYDNEY] Australian insurer and funds manager Axa Asia Pacific Holdings announced yesterday that it is in advanced talks on setting up a joint venture in India. After recently inking a deal with AFFIN Holdings Berhad in Malaysia, Axa APH isAP - 312 words
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Article515 2005-08-23 16 Bloomberg [MUMBAI] The Mumbai stock exchange, Asia's oldest, began functioning yesterday as a company, to allow greater scrutiny, increase trading volume and expand into financial services before a proposed share sale in a year's time. The Bombay Stock Exchange Ltd, as the company has been named,Bloomberg - 515 words
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NOTE BOOK
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97 2005-08-23 16 Bloomberg [BEIJING] Bank of Communications Ltd, China's fifth-largest lender, has swung into the black, with a net profit of 4.6 billion yuan (***** million) or 0.12 yuan a share at half-time. This compares with a net loss of 1.9 billion yuan or 0.11Bloomberg - 97 words
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Article112 2005-08-23 16 Bloomberg [HONG KONG] Hong Kong's Securities and Futures Commission, which has been reviewing the city's mergers and acquisitions code, said it will bar takeover offers that are at more than a 50 per cent discount to a company's market price. Low priced or "low ball"Bloomberg - 112 words
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Article98 2005-08-23 16 Bloomberg [BEIJING] China's first equity warrant in almost a decade, based on the shares of Baoshan Iron Steel Co, jumped 83 per cent on its debut, as investors bet the stock price of the nation's biggest steelmaker will rise. The warrants, which give investorsBloomberg - 98 words
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95 2005-08-23 16 Bloomberg [BEIJING] Chinese industrial companies' profits grew at a faster pace in July as higher commodity prices boosted earnings at companies including Yanzhou Coal Mining Co and Anhui Tongdu Copper Stock Co. Combined net profit grew 20.6 per cent from a year ago toBloomberg - 95 words
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ASIA-PACIFIC/WORLD
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Article, Illustration547 2005-08-23 17 The software allows users to receive updated info constantly LATWP Bloomberg [SAN FRANCISCO] The Internet search engine Google Inc has unveiled plans to launch software that pulls news stories, photographs, weather updates, stock quotes and other features onto a user's computer without opening aLATWP; Bloomberg; Source: Reuters - 547 words
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337 2005-08-23 17 AP [WASHINGTON] Harvard scientists say they have fused an adult skin cell with an embryonic stem cell a development that could lead to the creation of useful stem cells without first having to create and destroy human embryos. Preliminary results of the groundbreaking researchAP - 337 words
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331 2005-08-23 17 Reuters [LONDON] A British accounting rule showing that blue-chip firms' pension funds are deeply in the red exaggerates shortfalls, an investor report said yesterday. It also said an alternative measure based on firms' cost of capital would erase deficits. The FRS 17Reuters - 331 words
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424 2005-08-23 17 Reuters. Bloomberg [LONDON] Private equity firms Permira and Kohlberg Kravis Roberts Co agreed to buy SBS Broadcasting for about 1.7 billion euros (553.4 billion) in cash to access some of Europe's fastest growing television markets. The firms yesterday said theyReuters. Bloomberg - 424 words
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Article, Illustration535 2005-08-23 17 AP Bloomberg [LAKE JACKSON, Texas] US drug-maker Merck Co's blistering defeat in the first Vioxx trial was only round one in a series of expected court battles in the coming months, many of them involving plaintiffs who have some major advantages. TheAP; Bloomberg; REUTERS FILE PHOTO - 535 words
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252 2005-08-23 17 AFP [TOKYO] Sony is selling comics via mobile telephones in Japan in a move to dominate the small but rapidly growing market in downloading the country's "manga" cartoons. Sony Pictures Entertainment, a unit of the Japanese electronics icon, has signed with 10 popular JapaneseAFP - 252 words
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WORLD WATCH
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81 2005-08-23 17 Bloomberg [NEW YORK] Worldwide personal computer shipments will rise more than expected this year, gaining 12.7 per cent as laptop demand surges, according to researcher Gartner Inc. PC unit shipments will rise to 206.6 million this year, with PC revenue totalling U*****.7 billion,Bloomberg - 81 words
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101 2005-08-23 17 Reuters [MANILA] The Philippines gave the go-ahead yesterday for Australian firm Climax Mining to start commercial production at a copper-gold project.'the first large-scale mining venture fully funded by foreign investors. The Didipio mine in the northern Philippines is one of 23 key projects identified byReuters - 101 words
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109 2005-08-23 17 Reuters [TOKYO] Japanese Prime Minister Junichiro Koizumi is not thinking of staying in office beyond September 2006 when his term as ruling party leader ends, even if his coalition wins next month's election, a party official said yesterday. Speculation surfaced over theReuters - 109 words
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69 2005-08-23 17 AP [SYDNEY] Australian retailer Woolworths Ltd yesterday said net profit rose 15 per cent to A 5790.5 million (***** million) in the year ended June 26 compared with A 5687.8 million the previous year. Sales at Woolworths, which owns 1,600 supermarkets and other storesAP - 69 words
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108 2005-08-23 17 Reuters [NEW YORK] OSI Pharmaceuticals on Sunday agreed to buy Eyetech Pharmaceuticals for around US$935 million in a cash and stock deal. OSI will buy all outstanding Eyetech common shares for US$2O each a 43 per cent premium to Eyetech*s Aug 19 closingReuters - 108 words
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120 2005-08-23 17 Reuters [NEW YORK] The Securities and Exchange Commission has subpoenaed documents from Chicago Bridge Iron Co related to its work as a subcontractor on a multi-billion dollar Nigerian natural gas complex, the Wall Street Journal reported yesterday. The SEC is investigating payments madeReuters - 120 words
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AVIATION
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Article, Illustration355 2005-08-23 18 Airline probing into whether staff were forced to take part in illegal strike Bloomberg [LONDON] The Transport General Workers Union may ask members employed by British Airways Pic at London's Heathrow airport to consider a strike if the carrier continues a probe intoBloomberg; AFP - 355 words
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165 2005-08-23 18 Reuters [MOSCOW] Russia grounded all long-distance Ilyushin-96-300 passenger aircraft yesterday due to safety concerns, transport officials said. Flag carrier Aeroflot which has six of the 13 planes currently in use said it was forced to cancel some of its flights to the UnitedReuters - 165 words
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191 2005-08-23 18 AFP [PARIS] French national carrier Air France said on Sunday that it was confident the US government would ultimately approve antitrust immunity for the Sky Team global alliance of six airlines despite opposition from the US Department of Justice (DO J). An Air FranceAFP - 191 words
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426 2005-08-23 18 Bloomberg [TOKYO] Japan Airlines Corp, Asia's largest carrier by sales, flew fewer domestic passengers during Japan's peak travel season after its image was tarnished by safety lapses. Rival All Nippon Airways Co increased domestic traffic. Japan Airlines domestic passengers declined 1.4Bloomberg - 426 words
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250 2005-08-23 18 Reuters [WELLINGTON] National carrier Air New Zealand Ltd said yesterday it would increase its fuel surcharge by as much as 28 per cent because of soaring fuel costs. Air NZ said that from Sept 1 the surcharge on domestic flights wouldReuters - 250 words
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130 2005-08-23 18 Reuters [SEOUL] South Korea's biggest airline Korean Air Co said yesterday it had signed a preliminary agreement to take over China's Okay Airways to target booming air cargo and passenger demand in China, the announcement came after Korean Air said in June itReuters - 130 words
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Article1781 2005-08-23 18 CITY FLIGHT ETA FLIGHT ETD SQ407 0715 ICS56 1145 r 3=5 IC855 1025 SQ408 1855 .j-i-i-i- acmm jjT? DonpatarBaM SQ141 1145 SO'* 2 0935 55 1 SQ143 1535 S0146 1640 nS5 jjjc GA840 1725 GA841 1825 jjSSg SQ147 2235 SQ148 1900 I SQ229 2*0 Dhak. SQ4351,781 words
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Page 18 Advertisements
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Advertisement170 2005-08-23 18 BT Deal of the Week Exclusive Business Class Airfares with ZUJI j AIRFARE HOTEL WEATHER Bangkok $1,088 2 nights free Jit Cathay Pacific Mandarin Oriental Bangkok Rain Exclusive tb 8t Buy the Cathay Pacific business dass fare and get 2 nights free at Mandarin Oriental Bangkok available only on ZUH.170 words
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Page 18 Miscellaneous
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Miscellaneous203 2005-08-23 18 CRYPTIC CROSSWORD much, an 11 Advanced cash? Deposit it, YESTERDAY'S SOLUTION DOWN perhaps (13) Across: 1 Anchor, 4 Egg spoon, 9 1 Party shortly after Blair's first 14 Senior policeman opening Gorgon, 10 Mediator, 12 Ibis, 13 talk (4) special branch enquiry (10) State, 14 Life, 17 As good as203 words
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AVIATION/SHIPPING
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Article, Illustration987 2005-08-23 19 NEWS ANALYSIS The plan which took 18 months to create, uses temporary workers in place of striking mechanics NYT AS Northwest Airlines rode out a full weekend with its mechanics union on strike, it was enjoying the fruits of an elaborate plan thatNYT; AFP - 987 words
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401 2005-08-23 19 Bloomberg [NEW DELHI] Paramount Airways, funded by a textile exporter, plans to start flying in India next month and become the fourth low-fare carrier to begin service this year, where rising incomes is stoking demand for air travel. Paramount will start flights toBloomberg - 401 words
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Article, Illustration716 2005-08-23 19 A takeover will create the country's largest transport corporation Reuters [SYDNEY] Australia's largest land transport group. Toll Holdings Ltd, made a hostile A 54.9 billion (Ss6.l billion) bid for port operator Patrick Corp to boost its rail, road transport and air freightReuters; AP - 716 words
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Article, Illustration480 2005-08-23 19 DONALD URQUHART - By DONALD URQUHART [SINGAPORE] An "urgent and thorough" review of the risk assessment of the Malacca Strait by London marine underwriters is needed, said the Federation of Asean Shipowners' Associations (Fasa) following the underwriters' refusal to back down on the issueREUTERS - 480 words
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Article289 2005-08-23 19 sgx 1 *ooo Am 22 SS W- Vol CH Offshore .0.40 unch 696 ChuanHup JOM 0.01 1206 Cosco Corporation 3.47 0.04 206« CWT Distribution .0.74 -0.01 42 Ezra Hides 1.58 0.01 1701 FreightUnks 0.08 -0.01 279 Grand Banks Yacht .0.95 unch 0 Java Holdings 1.26 0.01 1611 Kf289 words
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Page 19 Advertisements
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Advertisement12 2005-08-23 19 The Straits Times Recruit The first step on your ladder to success12 words
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EDITORIAL & OPINION
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Article530 2005-08-23 20 EDITORIAL THE vision for the Singapore of the future spelt out by Prime Minister Lee Hsien Loong in his National Day Rally speech was bold and brave, sweeping, at times even dazzling, and brimming with hope. It is exciting to imagine even the physical makeover to530 words
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Article, Illustration756 2005-08-23 20 YOGI AGGARWAL - THE BOTTOM LINE YOGI AGGARWAL SELLING off government-controlled companies to the private sector has been one of the most contentious issues of the reform process in India. This is largely because of a confusion about what privatisation and disinvestment of public-sector undertakings (PSUs)756 words
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Article, Illustration1151 2005-08-23 20 DAVID LEONHARDT - Online betting markets are proving to be more accurate at predicting the future than experts By DAVID LEONHARDT NYT THE world's online betting markets have done quite a nice job'of predicting the future lately. A kind of futures exchange where participants bet onNYT; BLOOMBERG; PHOTOS: BLOOMBERG, AFP, REUTERS - 1,151 words
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Article, Illustration1101 2005-08-23 21 BURTON ONG - Some proposed airline mergers will face more regulatory turbulence depending on how they affect competition By BURTON ONG Recent public statements from government leaders in Singapore and Australia urging air carriers based in these territories to consider merging their operations appear to have borne fruitAFP FILE PHOTO - 1,101 words
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Article114 2005-08-23 21 Leong Onn Kwong Singapore - Leong Onn Kwong Singapore I REFER to the letter "Estate duty exemptions are generous: MOF" (BT, Aug 16) by Han Kok Juan, Ministry of Finance. It may appear that estate duty exemptions here are generous, but it is socially inequitable that there are two114 words
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Article, Illustration834 2005-08-23 21 WILLIAM PESEK JR - By WILLIAM PESEK JR Bloomberg CALL it the China Bond Mystery. A Chinese currency revaluation of the kind engineered last month was expected to slam the US bond market. Letting rise means China may Treasuries to hold it down. That, it was thought, would sendBloomberg; REUTERS FILE PHOTO - 834 words
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192 2005-08-23 21 Kelly Wee - LETTERS TO THE EDITOR Kelly Wee Deputy director, marketing communications JTC Corporation WE refer to Mr Denis Distant's letter, "Do stat boards hold hands of executives?" (BT, Aug 16). We would like to clarify that if a staff member's performance is assessed192 words
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Article10126 2005-08-23 22 SGX MAINBOARD 52-Wk Td last Vol Day Last Quota GrOtv Dtv GrYJd Nat MCap High Low Coda Company Sala W- fOOO) Wall Low jjg Satar Cvr WE «iwll 10 2.5 5716 1st Software 5c 3 +0.5 261 3 2.5 2.5 3 12.1 30 9.5 3148 UTelecom US2c 9.510,126 words
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Article6481 2005-08-23 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES •a local curt I* SS In UM S dy \yt dy y» dy %yr Aoq n lndg» Change Chang* Change Change Change Change Wirttlnfex Preliminary 904.8 OS 61 0.7 44 0.5 21 t tAft Preliminary 862.0 to 11J6 0.6 4.5 0.4 23 Europe6,481 words
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Page 24 Advertisements
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Advertisement1539 2005-08-23 24 —.—i lllilllllr^S[^^^^^Wß4^^^si!^J It! X "V »in-'iip»ir> IHlffifi V 5 j t-v^*ajjL r M^l > 'v£. K -4s W w. wrTf ■< 0 <£® ,'^#'p /3l\ NYK GROUP SOUTH ASIA PTE LTD finnrG V TE;6295 0123 \F m \IV JL Alink: M Xm LINE Fax: 6292 2856(Region^sates)/*****109(0P5)/6299 5785 (Dcxxjmentation) V NIPPON1,539 words
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Advertisement793 2005-08-23 24 jiNTERASIA RQRQ SERVICE vtssa/voT lAWPpci) Bi we km to sw jkt STtAfTS VDfTURE It/05 15 12 01/09 04/09 01/09 11/ M 13/ M STUnSVBnUK 19/05 1$ 11 15/09 11/ M 22/09 25/09 27/09 STMTS VtfflUK 70/05 15 3.2 30/09 02/10 06/10 09/10 11/10 |AUSTRALIAN RORO SERVICE VBSa/YOT I IMXKDI HBGWTWI793 words
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Page 25 Advertisements
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Advertisement1068 2005-08-23 25 a L AUSE SERVICE (EWOtT) potkianc smgatore misiame stmut meuowhe wauoT row nunc shkapore mism* smwrr muowwi APtmct CAP KEIWGA 514S 25/08 26/01 05/09 07/09 10/09 IVO9 CAP KINGA 5155 22/09 23/09 03/10 05/10 «£0 M 0 CSCL XIAMEN OS4S 01/09 07/09 12/09 14/09 17/09 20/09 CSCL XUMEW QMS ?9/091,068 words
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Advertisement1062 2005-08-23 25 VESSEL VOY PKG I GOLDEN TRADE 51 ?n 6/ 9 I 7/9 9/9 z: jj CAPE SANTIAGO IOOSM I 1.V9 14/9 I 16/9 I I I Catq HK Ob-Swan VESSEL VOYTPKG SIN HKG SHA TAP HSK VESSfl VOY SIN PKG CMB JEA_ CHINA STAR 027E 21/8 22/8 30/8 1/9 WESTERMOOR1,062 words
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Advertisement897 2005-08-23 25 m S<3aS^ WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS VESSEL VOY SIN PKLAMG COCOMIO H.SHEVA COIOMAO IMDHA SAWDHI 009tW 05 SEP 06 SEP OT SEP IiSEE Liitt tAJIYGAHDHI OM6W 12 SEP 13 SEP 16SEP -LlSg UM KOI* PEKTAMA YPWO23 19 SEP 20 SEP 23897 words
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THE BUSINESS TIMES SHIPPING TIMES
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7500 2005-08-23 26 MBZ5E 5E3B5IBBIIBHB8 1 B f BE EE I Irm 3ZE i I IjTBIEB' PBfflE ETA ETA Advertiser V«H€l ETA ETA Ad>«rtfa«r Vewri Voyag. T J^J* SIN Dest'n Name Mam. Mumbtr Number SIM Darfn Name Nam* NMiioer To ALGECIRAS (AL6) 2013 Spain TO ABIDJAN (ABJ)7,500 words
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Page 26 Advertisements
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Advertisement720 2005-08-23 26 I IA&Af WALLENIUS WILHELMSEN website: http://www.2wfllobol.(om VESSEL ~VOY RAMP* L»C ~MAO~ HOW Ml* SAY BAL ORE NYC NEW MOB TAMPA Af522 420TMS 6.4 M I 24/ OS 20/09 29/09 03/10 06/10 06/10 TAPIOU ALSI9 4001om 6.3 M I 05/09 12/10 14/10 17/10 19/10 THUS AES2S 420T0m 6.4 M 13/09 10/10720 words
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Advertisement513 2005-08-23 26 VESSEL VOY SIN PGU VESSEL VOY MM JKT PACBAMDA 1541 M ***** 23/08 PKBMJ <180 2|/M gZg PACIANPA IS42W 24/08 25M_ Eggf JIIT Cy 2301 0164P 25/01 26/08 □A?BH^^^^4lB^^^W/o^^^o^^ PACIANOA JS4JN 24/ M —fl PACBANDA 1544N UM 2|/fiB_ wf UN -SSL fiJS g& $2igg gZg— "J"s Ml 12m es/os n/09513 words
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Advertisement442 2005-08-23 26 BSA o MYANMA mm FIVE STAR UNE (Myonmar National Line) Loading for Yangoa VESSEL VOY SIN PKL PEN PGU PAGAN JMW SID PAGAN J49W SU) IN MALAYSIA: IOUSTEAD SHIPPING AGENCIES KUI/PKL 03-*****3U PEN: 04-*****15 ACCEPTING CONVENTIONAL C6O VESSEL VOY HKG SIN PGU PKL KUC COCOA HEART 4 SU) SU) SID442 words
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PROPERTY
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Article, Illustration527 2005-08-23 28 KALPANA RASHIWALA - DTZ says surge of primary market sales in Q2 driven by competitively priced projects, and return of speculative investors, reports KALPANA RASHIWALA KALPANA RASHIWALA THE number of private apartments and condominium units sold by developers in the prime districts soared to a threeyearSource: URA Reaks, DTZ Research Aug 2005 - 527 words
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381 2005-08-23 28 All submissions will be assessed on concept first THE tender for a 60-year leasehold hotel site at Changi Airport's Terminal 3 attracted five bids when the expressions of interest exercise closed last Thursday. DTZ Debenham Tie Leung director (investment sales) Tang Wei381 words
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Article209 2005-08-23 28 THE owners of Parry Gardens at Poh Huat Road in the Upper Serangoon/Yio Chu Kang area are putting their homes up for collective sale again with an expected price of $36-$3B million almost unchanged from their last asking price in 2003. At $36-$3B million,209 words
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Page 28 Advertisements
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Advertisement245 2005-08-23 28 Il'lfi De ben ham mm Leung mm nidin.mii|ini -run TT Suitable for commercial schools/small corporate office OR serviced office/apartments* Land area: 1,330.9 sq m Net lettable area: building height up to 35 storeys Planning approval to be obtained For Sale by Tender tA ARDMORE PARK DEVELOPMENT SITE FOR SALE BY245 words
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Advertisement235 2005-08-23 28 Intelligent Business Park space with j f pre-wi red broadband infrastructure and r' IBM i >• other facilities Room, Conference For leasing enquiry call i|> Nonlic European Centre mL I j... ;>nrl private umrcea www.nonlic-eurspean.coni HIHfIHSHEHfHHEaNiteJ For Sale by Tender V I 1 Good Class Bungalow Land at Leedon Road235 words
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Advertisement180 2005-08-23 28 FACTORY IN LOYANG VICINITY FOR SALE Prime detached factory with well designed ancillary office Tenure Remaining 49 yrs Land Area Approx. 58,000 sa ft GFA Approx. 41,300 sq ft 9780-9262 CBRE 6 Battery Road #32-01 Singapore *****9 p wchamp elus Residential Redevelopment Site in District 15 Pumpkin Garden Tembeling Road180 words
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