The Business Times, 24 August 2005
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2005-08-24
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The Business Times
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Title Section22 2005-08-24 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial:com.sg MICA (P) 089/03/2005 Wednesday, August 24,2005 If 'V'" l > "n.if wfinn iPlii if.22 words
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Article, Illustration1103 2005-08-24 1 VEN SREENIVASAN - Appeal Court also orders company to pay members' legal costs By VEN SREENIVASAN [SINGAPORE] In the largest award here in a class-ac-tion suit, the Court of Appeal yesterday ordered Raffles Town Club Pte Ltd, the owner of Raffles Town Club (RTC), to1,103 words
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Article137 2005-08-24 1 STI 2,289.66 (-11.29) ST INDEX FUTURES 2,283.00 (-12.00) SIMSCI 271.66 (-1.52) SIMSO FUTURES 271.00 (-1.70) MARKETS Tuesday Change KISECOMP 923.79 -0.18 NIKKEI 225 12.472.93 +20.42 HANG SENG 14.973.89 -244.74 SET INDEX 690.39 -0.38 JAKARTA COMP 1,066.09 J 0.26 MANILA COMP 1.943.76 -19.61 SEOUL COMP 1.115.84 -0.84 SHENZHEN B137 words
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315 2005-08-24 1 R SIVANITHY - Asian commodities market is slated for H1 next year By R SIVANITHY [SINGAPORE] The Singapore Exchange (SGX) has signed a memorandum of understanding with the Chicago Board of Trade (CBOT) to develop a derivatives exchange for Asiancommodities. At a joint news conference yesterday, SGX315 words
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Page 1 Advertisements
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Advertisement10 2005-08-24 1 BA corporate news Oei Hong Leong cuts UIC stake 4||10 words
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Advertisement9 2005-08-24 1 SOARING OIL PRICES Mixed impact for ComfortDelGro, SMRT PG49 words
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Advertisement175 2005-08-24 1 MOTORING A A 1 V Mercedes V r I still No. 1 EXEC MONEY Wfelcome news for the under-insured pa 28 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 online175 words
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TOP STORIES
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408 2005-08-24 2 SIOW LI SEN - DC William falls foul of Insurance Act By SIOW LI SEN [SINGAPORE] The Monetary Authority of Singapore (MAS) has told an insurance broker to immediately stop arranging new insurance contracts and renewing existing contracts. The ban has been slapped on DC William Insurance Brokers408 words
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Article, Illustration510 2005-08-24 2 DANIEL BUENAS - But their total accessible income falls by $90.4m in 2003: IRAS By DANIEL BUENAS [SINGAPORE] Despite the double whammy of Sars and the Iraq war, the ranks of Singapore's milliondollar earners' club continued to swell in 2003 with 30 additions that took the numberSource: RAS - 510 words
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191 2005-08-24 2 [SINGAPORE! The government has accepted seven suggested changes to the draft Income Tax Bill, including clarifying the reduction of tax withheld on real estate investment trust (Reit) distributions to nonresidents. The Ministry of Finance (MOF) said in a statement yesterday that it sought191 words
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Article782 2005-08-24 2 $fcB.7m operating profit for NTUC Fair Price NTUC Fair Price reported a 5.3 per cent rise in full-year operating profit to $68.7 million, despite challenging conditions in the retail supermarket sector. This excludes one-off gains of $16 million last year from the sale of NTUC Hougang Mall and782 words
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Article, Illustration542 2005-08-24 3 DANIEL BUENAS - Profit down 15.4% from previous year which enjoyed one-off gains Reports by DANIEL BUENAS [SINGAPORE] NTUC FairPrice yesterday reported an operating profit of $68.71 million for its financial year ended March 31. The $68.71 million profit, which came amid challenging conditions in the retail542 words
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329 2005-08-24 3 He will be replaced by Ng Ser Miang, a former nominated MP [SINGAPORE] NTUC Fair Price chairman Chandra Das who has become synonymous with the Fair Price retail supermarket chain will step down on Sept 16 after 12 years at the329 words
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Advertisement154 2005-08-24 2 m. Wm<Wm jf. M-^^HMi s *w k jjjjF lfM|^ •v. HfcJ 9k MflF I ■B|^ (i %J| -gufl '^^^^^j^B^^MMßpPlljSy^^ai^S^^^WW^^^WßWpßßßgSPwi 1 '""!?I HhhhhH itH ifl^l lJsSpf ife" JS^^EfA .•<^» te —*n <^"i ,iiiiiiii,i,i j| '-W TheßusinessofTime -Mll--<ll A BT supplement Here's news for collectors of complicated watches those exquisite timepieces that154 words
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Advertisement9 2005-08-24 3 r Begin your own tradition. Hr |HI :,r mt9 words
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COMPANY NEWS
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Article, Illustration387 2005-08-24 4 SIOW LI SEN - Malaysians looking at all available options' to raise stake further By SIOW LI SEN TELEKOM Malaysia Bhd and Malaysian investment holding agency Khazanah Nasional Bhd have moved swiftly to cement their interest in Mobile One by buying another 7.45 million shares, raising theirFILE PHOTO - 387 words
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Article, Illustration380 2005-08-24 4 EDDIE TOH - By EDDIE TOH BUSINESSMAN Oei Hong Leong has ceased to be a substantial shareholder of United Industrial Corporation (UIC) the listed property player and former detergent maker he once headed in the 1980s and *****. UIC disclosed yesterday that Mr Oei's Chip Lian InvestmentsARTHUR LEE - 380 words
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612 2005-08-24 4 SAMUEL EE - HOCK LOCK SIEW By SAMUEL EE Gravity-defying oil prices may have hurt Singapore's two public transport operators and dragged down their profits. But the impact of more expensive fuel may turn out to be somewhat different for ComfortDelGro and SMRT over the next few quarters.612 words
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308 2005-08-24 5 ROLAND LIM - IPO WATCH 1.5m shares available to public, trading on Sesdaq begins Aug 31 By ROLAND LIM MALAYSIA-BASED AA Group Holdings Ltd (AA Group), a manufacturer of loudspeaker parts, yesterday announced its initial public offering (IPO) of 15.4 million new shares at 21308 words
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300 2005-08-24 5 ROLAND LIM - By ROLAND LIM ASIA Enterprises Holding launched its initial public offering (IPO) yesterday, with plans to pay a dividend of at least 40 per cent of its net profit for this financial year. "It's part of our culture of rewarding shareholders," said300 words
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417 2005-08-24 6 AMIT ROY CHOUDHURY - Elec Eltek planning 1-for-5 bonus issue CORPORATE RESULTS Full-year profit up 5%; proposed final dividends totalling 20 cents a share By AMIT ROY CHOUDHURY ELEC Eltek International is proposing a one-for-five bonus issue of up to 29.8 million new ordinary shares in view of the good performance of the company.417 words
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Article, Illustration296 2005-08-24 6 NANDE KHIN - By NANDE KHIN MAINBOARD-LISTED Koda Ltd yesterday recorded a 29.8 per cent increase in net profit for the financial year ended June 30 as all its major markets exhibited strong growth. And it is proposing a total gross dividend of 20 per centFILE PHOTO - 296 words
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Article, Illustration164 2005-08-24 6 Bloomberg [HONG KONG] Star Cruises, the world's third biggest cruise line operator, reported a profit in the first six months of this year, after demand for sea-bound holidays and cruises increased. Net income was US$lO.6 million compared with last year's loss of US$lB.2Bloomberg; FILE PHOTO - 164 words
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Article, Illustration424 2005-08-24 7 R SIVANITHY, EDDIE TOH - Brokers say 17% drop could be due to forced selling or margin calls By R SIVANITHY, EDDIE TOH LIVING up to their reputation as being among the market's most volatile, shares of Singapore-listed Indonesian pulp and paper mill firm United Fiber System yesterday crashedFILE PHOTO; Source: Bloomberg - 424 words
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COMPANY BRIEFS
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Article79 2005-08-24 7 AMTEK Engineering's net profit dropped 37 per cent to $25.7 million for the financial year ended June 30 even though turnover rose 11 per cent to $868.3 million. The company said higher raw material prices raised input costs while staff costs were increased to support business79 words
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Article71 2005-08-24 7 GLOBAL Testing Corp (GTC), a mixed signal and logic tester, said yesterday its IPO was about 1.6 times subscribed. It offered 211.89 million shares comprising five million for the public, and 206.89 million for private placement at 30 cents a share. ABN Amro Bank, Dubai Investment71 words
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72 2005-08-24 7 POPULAR's unit Beijing Tsinghua Timefound 8i Cisco System Technology has increased its investment in 70 per cent-owned subsidiary Beijing Ednoland Education Co, whose registered capital has increased from 1.5 million renminbi to 5 million renminbi (Ssl million). Beijing Tsinghua had subscribed for 70 per cent72 words
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67 2005-08-24 7 SGX has confirmed that it will suspend trading of Jurong Engineering Ltd (JEL) shares after the sale of the latter's core engineering and construction business is completed. JEL has agreed to sell the business to Ishikawajima-Harima Heavy Industries (IHI) for $51.6 million.67 words
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78 2005-08-24 7 LABROY Marine Ltd's subsidiary Labroy Shipbuilding and Engineering has signed a shipbuilding contract worth $41 million for the construction of a barge to be delivered in 2007. This will increase Labroy Marine's current year outstanding shipbuilding order book to-date to $67 5 million.78 words
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43 2005-08-24 7 COMPACT Metal Industries' (CMI) group financial controller and secretary Catherine Lim has resigned and the company said group accountant Anna Hamonangan will be promoted to to the position of group financial controller with effect from Sept 5.43 words
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221 2005-08-24 7 Bloomberg [KUALA LUMPUR] Kumpulan Guthrie Bhd Malaysia's fifth-largest plantation group by market value said that it will get a US$4BO million syndicated loan from DBS Group Holdings Ltd and 11 other lenders to refinance US dollar loans. Kumpulan Guthrie, based in Kuala Lumpur,Bloomberg - 221 words
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Advertisement110 2005-08-24 4 "i r~ s. I ;;;< »-,•.«*.> W>v: VIP jHtoMIRfIK'wW > i— ~-1 -N,, •>'. i.r 4-?'<*-' M IPM This announcement appears as a matter of record only |t August 2005 ilk %Sf GLOBALTESTING CORPORATION LIMITED i' Company Registration Number: *****9582R (Incorporated in the Republic of Singapore on 30 July 2004)110 words
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Advertisement872 2005-08-24 4 i". .**&&&*&*?•>>*» /HW,T... Ifei! GLOBAL TESTING CORPORATION LIMITED Company Registration Number: *****9582R (Incorporated in the Republic of Singapore on 30 July 2004) Invitation in respect of 211,885,000 Invitation Shares of SSO.IO each comprising 175,500,000 New Shares and 38,385,000 Vendor Shares as follows: (1) 5,000,000 Offer Shares at 550.30 for each872 words
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Advertisement293 2005-08-24 5 '-3 t y: "V f; W f y WrJk r:'% F Bp i i I 1 fly when you can soar? We are pleased to announce that Cathay Pacific, Hong Kong's v Airline xl —year airline, was named Airline of the Year in the Skytrax survey of over 12 million293 words
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Advertisement288 2005-08-24 6 v flß| m ™"HHBi vul ygftl UH am I WSi'W. BK &-Kf|H I 4 t ,4... f MWlttv wv v J «K ■188r >ÜBL,c steel distributor that supplies a 1 I 9H|P^^^^^ofstel»!' products and provides value-added f HB $kef processing services to industrial end-users in and the Asia-Pacific region. ASIA288 words
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Advertisement24 2005-08-24 7 111:1 i""^fjjf Find the most comprehensive range of products and services in The Straits Times Classified. C ATS Buy It Stll It nnd tt24 words
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Advertisement586 2005-08-24 7 Jv M -3EMI fl| V Fly high in First or Business at these low prices. For a limited time, we're offering special deals on First and Business class travel to the U.S. It's your chance to catch an exceptional flight at exceptional savings. Best of all, unlike other carriers, there's586 words
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SINGAPORE MARKETS
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Article, Illustration910 2005-08-24 8 LARRY WEE - CURRENCIES US$ rises look tentative if no big gains above 8.1 yuan, 110 yen and S$1.67 LARRY WEE Senior Correspondent THE US dollar made a credible recovery attempt against several of its non-Asian counterparts over the past week, but its gains versus still-popular910 words
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Article, Illustration725 2005-08-24 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Aug 23 and earlier) Subsantial No of Price SHAREHOLDING Shareholder Buy I Share* Per Stock Trans Date Director Sefl [000 Shr S [090) 000) LeeKimTah 23-Aug-05 Lee Soon Teck Buy .86 na *****1 58.38 58.36 Multi-Chem 23-Aug-05 Foo Suan Sai Buy725 words
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74 2005-08-24 8 UNITED Overseas Land (UOL) bumped up its stake in its subsidiary Hotel Plaza on Monday. UOL bought 81,000 of Hotel Plaza shares in the open market at an undisclosed price, increasing its direct interest in the company from 76.93 per cent74 words
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138 2005-08-24 8 NANDE KHIN - Compiled by NANDE KHIN THIRD Avenue Management (TAM) has reclassified its 7.26 per cent stake in Overseas Union Enterprise (OUE) as deemed interest. Its holding of 12,794,000 OUE shares was previously listed as direct interest, but the company said that it now believes, upon138 words
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Article273 2005-08-24 8 VEN SREENIVASAN - Compiled by VEN SREENIVASAN Jaya Holdings Aug 23 dose: $1.25 JPMORGAN, Aug 22 JAYA'S FYOS final results (for the year ended June) were slightly ahead of expectations. Net profit grew by a substantial 86 per cent to $86 million, while turnover expanded by 61 per cent to $168.8273 words
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Article, Illustration407 2005-08-24 8 R SIVANITHY - STOCKS R SIVANITHY Senior Correspondent COULD it be that traders and investors should brace themselves for slower growth in an environment of low inflation and high oil prices and, therefore, can expect a low-return investment climate in the months ahead? If trading over the past407 words
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Article, Illustration226 2005-08-24 8 Yeo Kee Yan - CHART POINT By Yeo Kee Yan chartist at Kelive Research SHORT-TERM stability has returned to the market in the past week as the Straits Times Index steadied itself near the 60-day moving average. Considering that the corporate earnings season is drawing to a close, we226 words
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SINGAPORE NEWS
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Article, Illustration517 2005-08-24 9 CHEN HUIFEN - It is the world's largest dedicated scientific staffing company By CHEN HUIFEN LIFE sciences staffing firm Kelly Scientific Resources (KSR) is setting up its first Asian office in Singapore in anticipation of a surge in demand for research and clinical professionals in the517 words
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332 2005-08-24 9 RACHEL LIN - Inflation had been expected to return, say analysts By RACHEL LIN THE consumer price index last month rose by 0.7 per cent over June on a seasonally adjusted basis, reversing the 0.7 per cent decline of the previous month. This climb was332 words
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Article, Illustration305 2005-08-24 9 NTUC Income yesterday launched its digital warehouse project from which it hopes to save $10 million a year, once it is fully completed. About 40 million pages of paper documents have been converted into electronic images by the company. It is launching two services, the305 words
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387 2005-08-24 9 NANDE KHIN - By NANDE KHIN SINGAPORE and Australia yesterday reached broad agreement on a range of economic issues including working towards open skies and successful outcome in world trade talks. In a joint statement issued after high level talks in Perth, the ministers387 words
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Advertisement134 2005-08-24 9 Take On The Standard Chartered Singapore Marathon 2005 individual There's nothing more fulfilling than rising to meet that personal challenge within. And there's L-^— nothing more satisfying than crossing the finish line knowing you've given it your all. We'll be at your side with every stride you take. Team I134 words
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ECONOMY WATCH
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Article, Illustration605 2005-08-24 10 Government also considering more dollar bonds this year to raise supply Reuters Bloomberg [JAKARTA] Indonesia's central bank wants private firms to place more of their export earnings in onshore banks to help increase the supply of foreign currencies and boost the rupiah,Reuters; Bloomberg; Source - 605 words
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440 2005-08-24 10 LATEST US DATA Bloomberg [WASHINGTON] US sales of previously owned homes slowed in July, leaving the rate of purchases at the third-fastest on record as cheap financing and growing employment supported demand, an industry report showed. Existing home sales fell 2.6Bloomberg - 440 words
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238 2005-08-24 10 Reuters [BEIJING! China is still operating a de facto fixed exchange rate regime and will move only slowly towards a more liberalised system, a top government researcher said yesterday. "We are still only one step away from a de facto peg to theReuters - 238 words
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527 2005-08-24 10 The growing divide is likely to trigger social instability Reuters [BEIJING] China plans to ease personal income tax for the poor to help narrow a widening wealth gap and encourage consumption, state media and analysts said yesterday. China's parliament had begunReuters - 527 words
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Article, Illustration576 2005-08-24 10 AP Reuters [TOKYO] Japanese economic activity rose for the first time in June in two months due to gains in industrial production and construction, the government said yesterday, adding that there is further evidence that the economy is recovering. The Ministry ofAP; Reuters; AFP - 576 words
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Advertisement78 2005-08-24 10 nTrr --Intrr" > Lj Li iojnfUojwMM!^ hsaimmmmaml II 3 Ask us about Corporate, Individual or Group Instruction. J I Call BertHz today 6733-7472 or visit www.berlitz.comR I 501 Orshard Road fl05-03/04 Whealock Place Singapore *****0 \\:s: mm. am vm FT^n Lianhe Zaobao I Robert Kuok I I builds three I78 words
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MALAYSIA
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Article, Illustration538 2005-08-24 11 He is first politician to face such a severe punishment in anti-graft drive AP AFP [KUALA LUMPUR] A senior member of Malaysia's ruling party has been sentenced to four years in jail for bribery, the first politician to face such a severe punishment inAP; AFP; THE STAR FILE PHOTO - 538 words
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490 2005-08-24 11 S JAYASANKARAN - By S JAYASANKARAN in Kuala Lumpur THE Malaysian government yesterday bowed to the country's powerful tobacco lobby by agreeing to defer the ban on small cigarette packs to 2010. This is the second time it has been postponed. On Feb 28,490 words
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NOTE BOOK
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87 2005-08-24 11 Bloomberg [STOCKHOLM] Shares of MediGene and Evotec, two unprofitable German biotechnology companies, advanced after Indian newspaper Business Standard reported that Ranbaxy Laboratories plans to buy a German drug research company to expand in Europe. MediGene shares gained as much as 48 cents, or 6Bloomberg - 87 words
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96 2005-08-24 11 Reuters [SINGAPORE] Credit Suisse First Boston is the favourite to win an advisory role in the US$5 billion overseas listing of China Construction Bank (CCB) China's second biggest lender the Financial Times reported yesterday. The move could be followed by, but was not conditionalReuters - 96 words
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60 2005-08-24 11 Reuters [BEIJING] A pig-borne disease that killed nearly 40 people in south-west China has claimed a victim in the far south, bordering Hong Kong, state media said yesterday, a day after the government said it had brought the outbreak under control. The new deathReuters - 60 words
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55 2005-08-24 11 Bloomberg [HONG KONG] Citigroup Inc plans to increase its stake in China's Shanghai Pudong Development Bank to 20 per cent from 4.6 per cent, the Standard newspaper reported, citing an unidentified person. Citibank hasn't yet reached an agreement on when it will boost itsBloomberg - 55 words
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Article102 2005-08-24 11 Bloomberg [SHANGHAI] An equity warrant based on the shares of Baoshan Iron Steel Co surged 26 per cent on its second day of trading after jumping 83 per cent on debut, as speculators bet that short supply will drive up the price. The warrants, China'sBloomberg - 102 words
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66 2005-08-24 11 Reuters [SHANGHAI] Six city commercial banks in the eastern rural inland province of Anhui in China are set to merge as part of an industry consolidation aheadof greater foreign competition in 2007, sources at the banks said yesterday. The government is planningReuters - 66 words
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Page 11 Advertisements
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Advertisement142 2005-08-24 11 SHIFT_design ArtURANO ShOWrOOIIlS* Authorised Dealers: AutoMega Trading Pte Ltd 300 Tampines Ave 5, #01-01, NTUC Income Tampines Junction. Tel: 6787 2882 W fi -> i n —i. 4 Hong Heng Co Pte Ltd 33 Sembawang Road, *01-01/02. Tel: 6452 1112 Kok Yoke Chuan Pte Ltd Blk 34 Whampoa West >142 words
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GREATER CHINA/INDIA
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Article, Illustration610 2005-08-24 12 The Indian firm has been competing to acquire oil and gas assets overseas Bloomberg Reuters AP [NEW YORK] Oil Natural Gas Corp (ONGC) is still considering "options" to pursue purchase of PetroKazakhstan Inc after it was outbid by China National Petroleum CorpBloomberg; Reuters; AP; Source: B , Tho - 610 words
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370 2005-08-24 12 VIKRAM KHANNA - By VIKRAM KHANNA [SINGAPORE] Having learnt from China's experience, India's communists now welcome foreign investment and are even open to privatisation, the head of the country's largest communist-ruled state said at a forum yesterday. Buddhadeb Bhattacharya, Chief Minister of the Indian state of370 words
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463 2005-08-24 12 AMIT ROY CHOUDHURY - It will provide two million sq ft of business space By AMIT ROY CHOUDHURY [SINGAPORE] Ascendas will develop a new 20-acre International Tech Park in Kolkata (ITPK) in eastern India for $150 million. The ITPK will be developed in Rajarhat, a new463 words
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Article2303 2005-08-24 12 VOl General Corp 043 unch 54 AagZ3 KM *i- rWI Genting 19.40 -0.10 420 George Kent OOO -052 21 ABM Realty -I SO 001 4 GHL Systems. -0.18 0.01 811 Abric 037 -001 13 GlobetronicsTaeh.— .0.39 0.01 714 ACPIndurtrias 0.69 002 140 GlomacBhd 1.4£ 0.01 94 Advance Synergy2,303 words
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Advertisement185 2005-08-24 12 SEA HSR Buy now. As you kriovvUiming 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 your choice if you're picked as the185 words
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ASIA-PACIFIC/WORLD
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Article, Illustration397 2005-08-24 13 The deal will boost Harrah's holdings on the Strip to about 294 acres Reuters Bloomberg [LOS ANGELESJ Harrah's Entertainment agreed to acquire the faded Imperial Palace Hotel Casino in Las Vegas for US$37O million, the world's largest casino operator said on Monday as itReuters; Bloomberg; REUTERS - 397 words
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Article, Illustration758 2005-08-24 13 Bank also grappling with slowing growth in markets NYT Bloomberg [NEW YORK] A long, tumultuous summer at Citigroup shows no signs of letting up. The bank's head of consumer banking, Marjorie Magner, said on Monday that she planned to leave the bank on OctNYT; Bloomberg; FILE PHOTO - 758 words
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225 2005-08-24 13 Reuters [TOKYO] Mizuho Financial Group wiH pay back US$6.3 billion m'public funds owed to the government after sector-wide bailouts in the late *****. The repayment, which will include a 12.4 per cent premium arising from a recent rise in Mizuho's share price, marksReuters - 225 words
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364 2005-08-24 13 Reuters [ATLANTA] Capping off a three-month auction, Whirlpool Corp on Monday reached a definitive agreement to buy US appliance icon Maytag Corp for US$l.7 billion. The deal in cash and stock would create the world's largest appliance maker. Maytag paid US$4O millionReuters - 364 words
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Article211 2005-08-24 13 LAT [SAN FRANCISCO] Watchers of Google Inc soon will have something new to chat about and with. Continuing its rapid expansion into new product categories, the Internet search giant plans to launch an instant messaging program called Google Talk as early as today, according toLAT - 211 words
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WORLD WATCH
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79 2005-08-24 13 Reuters [TOKYO] The utilisation rate of the world's microchip factories rose for the first time in four quarters in April-June, in another sign of a budding cyclical upturn in the semiconductor market. The usage rate rose to 88.8 per cent fromReuters - 79 words
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83 2005-08-24 13 AFP [TOKYO] Japanese electronics giants Toshiba and Sony admitted yesterday that they have not been able to reach a common standard for next-generation DVDs and are going ahead with the production of their own incompatible formats. The failure to make aAFP - 83 words
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99 2005-08-24 13 AP [EVENDALE, Ohio] General Electric Co has won a US$2.4 billion contract to develop an engine for the US military's next-generation stealth jet fighter. The deal is the largest military developmental contract in about 20 years for GE Aircraft Engines, which employsAP - 99 words
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56 2005-08-24 13 NYT [NEW YORK] Nordstrom, the large US department store chain with a middle-of-the-road fashion image, said on Monday that it has bought a majority interest in Jeffrey, a pair of luxury boutiques in Atlanta and Manhattan that champion avant-garde design. The termsNYT - 56 words
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120 2005-08-24 13 [NEW YORK! KPMG could be put on probation for less than 18 months as part of a settlement with US authorities over the accounting firm's past sales of tax avoidance schemes, the Financial Times reported yesterday. People briefed on120 words
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70 2005-08-24 13 Bloomberg [LONDON] Britain's top 100 companies by market value may have more than £1 billion (US$3 billion) trimmed from their profits this year because of new accounting rules governing employee share plans, a consulting group said. Companies using International Financial ReportingBloomberg - 70 words
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113 2005-08-24 13 Reuters [NEW YORK] Labour leaders plan to coordinate work stoppages at Wal-Mart Stores Inc outside the US, starting with a campaign to organise workers at its South Korean stores, the Wall Street Journal reported yesterday. The Union Network International, a federation of9ooReuters - 113 words
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363 2005-08-24 13 AFP Bloomberg Asset Management yesterday ended its two-year presence in South Korea. The Dubai-based investment fund on Monday said it sold off its entire stake in LG Corp and LG Electronics, the two key units of South Korea's third largestAFP; Bloomberg - 363 words
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AVIATION
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Article, Illustration318 2005-08-24 14 Budget carriers and airline offers woo passengers, despite fuel surcharges Bloomberg [SINGAPORE] Asia's air travel bookings in the second half of the year will probably rise 5 per cent to 8 per cent with the emergence of budget carriers and airline offers,Bloomberg; AFP - 318 words
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421 2005-08-24 14 VEN SREENIVASAN - By VEN SREENIVASAN [SINGAPORE] Singapore Airlines (SIA) has signed a 10-year service agreement with General Electric Company for the maintenance, overhaul and repair of the GE9O-1158 engines that will power its 19 Boeing 777-300ER planes which enter service in 2006. The deal is the421 words
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Article248 2005-08-24 14 Reuters Bloomberg [CANBERRA] Australia's biggest airline Qantas Airways Ltd increased for the fourth time, its fuel surcharges on tickets yesterday, but sdid that the company would still face a As6so million (SsBlB million) shortfall on its fuel bill. The airline said that at current pricesReuters; Bloomberg - 248 words
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LOG BOOK
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Article79 2005-08-24 14 AFP [HONG KONG] Hong Kong's second airline Dragonair said yesterday heavy holiday traffic has boosted passenger numbers in July by 10.3 per cent to 455,468 passengers but cautioned that rising oil prices could hit profits. It said Chinese and Taiwanese travellers made up most of theAFP - 79 words
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72 2005-08-24 14 Reuters [LARNACA, Cyprus] Tourists flying with Helios Airways were stranded in Cyprus for up to 27 hours on Monday, as the airline whose plane crashed in Greece eight days ago struggled to keep to its schedule. Helios Airways has sent one of its two remainingReuters - 72 words
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73 2005-08-24 14 Bloomberg [MANILA] Philippine Airlines Inc said its fiscal first-quarter profit rose 73 per cent as more passengers helped cushion the impact of higher fuel costs. Profit rose to U5527.5 million in the three months ended June 30 from US$l5.9 million a year earlier, itBloomberg - 73 words
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559 2005-08-24 14 Reuters [LONDON] British Airways faced a deadline set by caterer Gate Gourmet to sign a more generous contract on Tuesday or risk its supplier of 80,000 flight meals a day putting its UK operations into bankruptcy administration. One source close toReuters - 559 words
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232 2005-08-24 14 AFP [SINGAPORE] The world's airports will be severely congested and services will worsen by 2020 if countries fail to fast-track expansion to cope with soaring travel demand, a global airports' association has warned. Passenger traffic is forecast to grow 4.1 perAFP - 232 words
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Article1886 2005-08-24 14 CITY FUCKT ft* FLIGHT fTD SQ468 2240 C., 5Q351 0530 5K972 2155 $*Mit LH9771 1845 LH9770 2300 sl < 973 1|99 SQ230 1845 SQ229 2300 Di Nang MI633 2255 MI633 1425 1 j j il !8® SI Afcn<■>■< SQ443 0830 QF81 18S0 msis JIS —sssss ,451,886 words
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Page 14 Miscellaneous
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Miscellaneous211 2005-08-24 14 CRYPTIC CROSSWORD fatty substance DOWN 14 Consider with methodical in- YESTERDAY'S SOLUTION 1 Host of barmy sports fans? (4) tention(lo) Across: 1 Blundering, 6 Harm, 9 2 Packing in the ruler to see the 16 Promote alternative take over Aglow, 10 Admission, 12 Moisten, fiddling (9) (8) 13 Pasta, 15211 words
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SHIPPING
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Article, Illustration569 2005-08-24 15 GEORGE JOSEPH - Private Thai shipowners to take 70% stake in new venture By GEORGE JOSEPH [SINGAPORE] The Thai government is planning to set up a national shipping fleet with private Thai shipowners taking a 70 per cent stake, in an attempt to reduce Thailand'sFILE PHOTO - 569 words
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407 2005-08-24 15 Reuters [TOKYO/SEOUL] Asian shipping rates this week hit their highest level in more than a month. They have recovered from a two-year low set three weeks ago, on large orders and tight availability of vessels in the Pacific market, brokers said. TheReuters - 407 words
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Article295 2005-08-24 15 SGX '000 Aug 23 Si Vol CH Offshore 0.40 unch 1785 ChuanHup 0.89 unch 1254 Cosco Corporation 2.45 -0.02 3357 CWT Distribution 0.72 -0.02 18 Ezra Hldgs 1.57 -0.01 974 Freight Links 0.08 unch 210 Grand Banks Yacht 0.94 -0.01 5 Java Holdings 1.25 -0.01 5374 K1 Venture295 words
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Article183 2005-08-24 15 AP [JAKARTA] The Indonesian navy stormed a Croatian ship early on Monday and detained all 25 crew members, Croatia's ambassador to Indonesia said, calling it an illegal act. "We are asking the foreign ministry to explain what happened," said ambassador Aleksander Broz, adding that theAP - 183 words
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891 2005-08-24 15 DAVID HUGHES - STRAIT TALK By DAVID HUGHES THE boss of shipping industry lubricant supplier Castrol Marine didn't mince his words when he spoke about the lube oil supply crisis now affecting Singapore. David Gilmour said ships had already been delayed because they891 words
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Page 15 Advertisements
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Advertisement96 2005-08-24 15 "SHIPOWNERS I#ln International Ship Registries (ISR) provides HHjßßii J 1/ efficient service for registration licensing of w* ships under various flags. Mm*lnternational Ship Classification (IS Class) is an jf V|| independent organization providing classification > *fc&>9ssl Bffv, W services for newbuildings existing vessels as W8 88 BurvB B certification on96 words
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Advertisement151 2005-08-24 15 rmjAL M flf M*-- 1 SOLUTIIftJtfN In line with our vision to be the preferred total I logistics solution provider, we have entrenched our foothold in the industry for years. Our strengths lie in a wide range of shipping services encompassing chartering tugboats and barges service for complex and special151 words
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EDITORIAL & OPINION
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Article515 2005-08-24 16 EDITORIAL AT some level, oil prices will hurt the global economy but it is generally believed that the tipping point is not here yet. Still, signs of the negative effect of prices relentlessly moving up are unmistakable. At more than US$6O a barrel, crude prices have515 words
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Article, Illustration1079 2005-08-24 16 LEON HADAR - This latest conventional wisdom reflects nothing more than wishful thinking LEON HADAR Washington Correspondent SOME American pundits are suggesting that a major transformation has been taking place in the direction of the Bush Administration's foreign policy. "The Bush DoctrineBLOOMBERG - 1,079 words
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Article, Illustration753 2005-08-24 16 FRANK CHING - THE BOTTOM LINE FRANK CHING ON April 10. more than 20,000 residents of Huaxi township, in Zhejiang province, opposed to the chemical plants in their community fought off 3,000 police and government officials. Since the plants began operating three years ago, people753 words
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Article, Illustration1555 2005-08-24 17 STEVE LOHR - In time to come, combining business or scientific knowledge with computer savvy is crucial in pursuing career opportunities By STEVE LOHR NYT JAMIKA Burge is heading back to Virginia Tech this autumn to pursue a PhD in computer science, but her research isNYT; REUTERS FILE PHOTO - 1,555 words
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Article, Illustration860 2005-08-24 17 JOHN TIERNEY - By JOHN TIERNEY I DON'T share Matthew Simmons' angst, but I admire his style. He is that rare doomsayer who puts his money where his doom is. After reading his prediction, quoted on Sunday in the cover story of The New YorkAFP FILE PHOTO - 860 words
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Article10084 2005-08-24 18 SGX MAINBOARD 52-Wk T«l Last Vol Day Last Quote GrfM« Otv GrYld Mat MCap High Low Coda Company Sata +<- f000) High Low tuyar Sa«ar Cvr P/t SnJ 10 2.5 5716 1st Software 5c 3 unch 1 3 3 2.5 3 12.1 30 9 3148 8TelecomUS2c 9.5 unch10,084 words
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Article6345 2005-08-24 19 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In SS In USS dy yr dy yr dy %yr Aug 22 Index Change Change Change Change Chang* Change World Index Preliminary 907.9 0.5 6.5 0.7 4.9 0.9 2.7 EAFE Preliminary 866.4 0.5 12.1 1.0 5.6 1.2 3.4 Europe Preliminary6,345 words
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Page 20 Advertisements
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Advertisement967 2005-08-24 20 Sjjft, BM mmm NYK GROUP SOUTH ASIA PTE LTD IPM" KTWT V TEL: 6295 0123 X% X JkllNE KrfSXgj A Mm LINE Fax:6292 2856(Regionalsales)/6239 7109(OPS)/*****785(Documentation) NIPPON YUSEN KAISHA TOKYO SDPAKU KASHA. UO (C/R NO: **********0E) J IS7» OWOOOOO SINATOK Ltd Atain 65W-2750 M^jfa||g!j *****1 vSSJhif www.senetortines.com iwope Ng- Son Intra967 words
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Advertisement858 2005-08-24 20 IINTMAStA *o*o SERVICE VBSa/YOY mUfOCT) HBGHTtfI) fKG KH IP I SI JKT STIUUTS VENTURE 11/05 IS 3.1 01/W 04/W 08/09 11/09 13/ M STRAITS VENTURE lf/DS 15 3J IS/W 18/ M 22/09 25/09 27/09 [STRAITS VENTURE 20/05 IS 3.2 30/09 02/10 06/10 OV'O "/10 [AUSTRALIAN KOtO SEKVKE 1 VBSR/VOY lAOfffD858 words
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Advertisement1165 2005-08-24 21 www.homburgsud.com H ausi awg (export) n* eta n> IB PORT RUNG SMGAPOKE MISIANE STDNTT MEIJOWNt ADfLAIDt POTT KUWG SM6APOM Mljg STMKT MtlKXJtt* jjjUjl CAf HHB6ASI4S 25/ M it/01 DS/W 07/W Id/W 13/09 WIBimSISS 7VW tVW OVIO OVIO W/10 11/10 CSCLXUMBIOMS 01/09 02/09 12/09 14/09 17/09 20/09 QCL XIAMEN OUS 29/091,165 words
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Advertisement1249 2005-08-24 21 VESSEL VOY SIN JH HUG KHH INC KYH PUS VESSa VOY SIN JKT SUB HKG USX PUS HY PROGRESS 100S 25/1 27/1 1/9 3/9 5/9 7/9 7/9 KMTC SINGAPORE 512S 28/8 31/8 1/9 6/9 10/9 11/9 HY MIDGE OWS 1/9 3/9 1/9 10/9 12/9 14/9 14/9 KMTC JAKARTA SI2S 4/91,249 words
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Advertisement941 2005-08-24 21 m sjtgis^ WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS vessel I vor Ism p.kiang Colombo usheva (Qtowo wane QUEST QOO9W 22 AUG 24 AUG 27 AUG 30 AUG 02 SEP HOT* tttwiu MSI 2V AUG 30 AUQ Q2 SEP SEP ILitt— IWDIKA GAWDHI OQ96W941 words
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Page 22 Advertisements
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Advertisement986 2005-08-24 22 IMAf WALLENIUS WILHELMSEN website: http://www.2wglobal.tom YlSStl 7oY IK MAO HOW ~MIA SAV »Al 0M MYC ~~NtW~ M 0» TAMPA AF522 4201«w 6.4 M I 24/00 20/09 29/09 03/10 06/10 06/10 TAPWU ALSI9 4001*1 6.3 M I 05/09 12/10 14/10 17/10 19/10 HXAS AfS2S 420faw 6.4 M 13/09 10/10 19/10 23/10986 words
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Advertisement1670 2005-08-24 22 ytssa voy sin pou PACIANDA *****1 23/ OS 23/08 MCMU 4100 23/00 26/01 PAC lANDA 1542N 24/0« 25/01 [*< I ,n 3 h CSF 2301 0164P 25/08 26/08 I_P»C»AU 4181 29/08 01/09 PAC lANDA 1543N 26/08 26/08 MIMILnjIXLU BlWiiBM PAC lANDA Jj>44N ZZZfiS WW CSF 2301 9m 27/08 28/08 PAC1,670 words
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Advertisement602 2005-08-24 22 BSA X- MYANMA ffi| FIVE STAR LINE (Myanmor National Line) Loading for Yangon VESSEL VOY SIN PKI PEN PGU PAGAN J4BW SU> PAGAN 349W SLD IN MALAYSIA: lOUSTIAD SHIPPING AGENOES KUL/PKL: 03-*****388 PIN: 04-*****15 ACCEPTING CONVENTIONAL C6O VESSEL VOY HKG SIN PGU PKI KUC COCOA HURT 4 SLD SLD SID602 words
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THE BUSINESS TIMES SHIPPING TIMES
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9295 2005-08-24 23 HA ETA ABvertser Vessel Voyeje Telephone ETA ETA A*«rtiser Vessel Voyy TiUghone SIN Desfn /Name Name Number Number SIN 0«f» H«* N"ie v .v.v.v!SSfe.%v^l!!SBS.-.%>. To AUCKLAND (AKL) 2031 New Zealand TO ABIDJAN (ABJ) 2003 Cote D'lvoire 01/09 19/09 TASMAN TASMAN MARINER *****4 *****288 02/099,295 words
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Page 23 Advertisements
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Advertisement486 2005-08-24 23 Guaranteed Sailing! I Service from Singapore to: I Los Angeles <^EL Keelunq I Weekly Consol. Twice weekly I Mon cut-off. Consol. I 14 days transit. Mon A Thurs cut-off I HUB MARINE PTE LTD BOOKING: *****375/716 MAINLINE: *****866 FAX: *****066 OPR CODE "OZ" CR NO **********0Z MARKETING SALES: KELVIN CHUA:486 words
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Advertisement638 2005-08-24 23 FREIGHT LINKS EXPRESS PTE LTD Ifsl Penjuru Rood, 3rd Level, A' r IP Freight Links Express Logisticentre, Singapore *****3 Tel: *****51 1 Fax: *****577 E-mail: flesin@singnet.com.sq Website:http://www.freightlinks.net figjJjprjMf I ATTRACTIVE RATES TO: J ALEXANDRIA GENOA KEELUNG KAOHSIUNG ik. !""J .zHm. LE HAVRE MALTA MAHE MARSEILLE II CEBU DAUAN HONG KONG638 words
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Advertisement48 2005-08-24 23 G LINES MAfl<nlK CROSSEAST SHIPPING PTE LID operaKx cod# GK C* HO 771 3202 OOOOM Tel: 6327 1788 Fox: 6327 1588 urat hoddngOiUß—irtxonug WEBSI1I: www<e*Unmjny KUCHMG WEEKLY SAJUNG KOTA MNABALU, MKTUUJ 10 DAYS SAUNG I MKlttt I 27/08 I 28/08 I 21/08 I 01/W I OVWI J I48 words
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Advertisement271 2005-08-24 23 ■■■■■TIGEIIKAIt^3IIN24^^ ■ffIWWITIGERSEA 312N 27-78/08 02-04/09 10)1/09 1 ■MUAUI TIGER SKY 313N 30-31/08 06-08/09 13 14/09 UK}": "mmimi 314N 03-04/09 09-11/09 17 18/09 1 ■nnfl TIGER PEARL 31SN 06-07/09 13-15/09 20 21/09 TIGER SEA 316W 10-11/09 16-18/09 24-25/09 ■fffflfflflilNDEPENDSPl 003 30-31/08 08-09/09 17-18/09 ■iUUIb|TIGBt CUFF 015* 04-04/09 11-13/09 21 22/09 PHBi271 words
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MOTORING
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Article, Illustration534 2005-08-24 25 SAMUEL EE - Its taxis and minivans affirm marque's virtues, SAMUEL EE reports SAMUEL EE DAIMLERCHRYSLER says Merce-des-Benz is still the most successful premium brand in Singapore, and the presence of Mercedes taxis and minivans actually adds to its status because it is an affirmation of534 words
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Article, Illustration281 2005-08-24 25 SAMUEL EE - By SAMUEL EE THE new Mercedes-Benz S-Class is expected to arrive either in November or December and will cost slightly more because of new technology and new features. The next-generation model, which will premiere at next month's Frankfurt motor show, marks a radical departureFILE PHOTO - 281 words
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Page 25 Advertisements
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Advertisement177 2005-08-24 25 The Beauty Slimming Specialist MARY CHjA body face spa Quarter of a milliori women can't be wrong i"3^^ No pills, no injections, no dieting. For 23 years, Mary Chia has been bringing T JRfIM r-thighs- 30cm you innovative treatments that yield significant results. How effective are we? waist 22cm f177 words
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EXECUTIVE MONEY
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Article, Illustration351 2005-08-24 26 Chua Boon Lee - By Chua Boon Lee Standard Poor's associate; fund services INVESTORS of most Singapore-registered global USD-based bond funds have not had much to show for their efforts as higher interest rates in the US ate into the values of their funds' underlying bond securities in the first seven351 words
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Article, Illustration996 2005-08-24 26 ROY VARGHESE - MONEY MATTERS How savvy are Singaporeans when it comes to managing their money? ROY VARGHESE AS a nation, we have just celebrated the big 40. We came through two recessions, survived the Asian financial crisis and overcame Sars. In terms of material advancement, we have come aFILE PHOTOS - 996 words
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Article, Illustration1160 2005-08-24 27 CHEONG CHOY WAI, JULIANA NG - When abroad, businesses ignorant of complex tax issues could fall into tax traps, write CHEONG CHOY WAI and JULIANA NG YOU THE TAXMAN CHEONG CHOY WAI, JULIANA NG By ERNST YOUNG Globalisation creates opportunities, but can also bring greater risks. Greater opportunities could generate greaterBy ERNST & YOUNG - 1,160 words
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Article4909 2005-08-24 27 UNIT TRUSTS FUNDS dit-Europazins(SSEq.) 93.3048/ Citigroup Asset Mgt ABN Amro Asset Mgt (5'pore) ••■—J Star Europe Eqty I** 0.837/ Cm Asa Infrastructure 0 7726/0.8035 StarEuropeBond ***** -—I Star Europe Bal 1.139/ Spore A/$ 129« Star Asian Titwr Eotv 1 029/ CitiBond S pore B/$ 1.344/ 13" 1£92/ Star Asa Balanced4,909 words
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Article1230 2005-08-24 28 GENEVIEVE CUA - You do not get any money back at the end of the term, but GENEVIEVE CUA explains why term assurance is an option GENEVIEVE CUA YOU may not realise it, but there is at least one area in insurance where premiums have plunged significantly term1,230 words
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469 2005-08-24 28 GENEVIEVE CUA - By GENEVIEVE CUA OVER the last couple of years, one of the big products among private banks here has been huge whole life policies, called "universal" life, where the sum assured can go up to US$lO million. As these were offshore policies, banks469 words
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Article, Illustration1332 2005-08-24 28 JOSEPH NOCERA - Pare back on winners and buy more laggards, advises Yale's David Swensen By JOSEPH NOCERA WHEN David F Swensen started out on his new book, he thought that he was going to take what they do at Yale and make it accessible to the individual investor.1,332 words
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Page 26 Advertisements
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Advertisement138 2005-08-24 26 Pre»enteJ Diners Club Card To ««*****0980 A World of Exclusive Privileges Treats Diners Club l tcu>w.diners.com.sg International vefletarian non-vao*tarian optlona ara available r ingmahal@hind.com.sg. Www rangmahal com sg <» *n»i)tiJ j HHHHHHHHHHHHHHHHII MERITUS mandarin SINGAPORE with Dried Chilli or Drunlcen cKiclc<?hZ J MK /djBBBB PSBKhH I be spoilt FOR CHOICE138 words
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Page 28 Advertisements
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Advertisement83 2005-08-24 28 Residential Redevelopment Site in District 15 Gracious Mansions <5> Jalan Rendang MfVPM Freeho c Site area: 3,180.8 sq m (34,238 sq ft) 5 Residential O Cast Coarf Plot Ratio 1.4 Century S- CHI Within 100 m to Tao Nan School Rfl 2 y P rk w Near to Parkway Parade83 words
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Advertisement9 2005-08-24 28 MONEY MATTERS How financially literate are Singaporeans? PG 269 words
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