The Business Times, 21 September 2005

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Total Pages: 32
1 32 The Business Times
  • 17 1 THE BUSINESS TIMES Wednesday September 21,2005 SINGAPORE 85 cents online at http://business-times.asia 1 .com.sg MICA (P) 089/03/2005
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  • 618 1  -  Strata Titles Board makes landmark ruling in collective sale of One Tree Lodge By I KALPANA RASHIWALA [SINGAPORE! The Strata Titles Board (STB) ruled in a landmark decision yesterday that interest costs should not be taken into consideration in determining whether
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  • 1066 1  -  By MICHELLE QUAH [SINGAPORE] Heshe Holdings and its recent acquisition. Citiraya Industries, are poised for a makeover, with a new lease of life, a new name and. for Citiraya. a new debt repayment scheme and a lifting of its trading suspension.
    ARTHUR LEE  -  1,066 words
  • Page 1 Advertisements
    • 23 1 EXEC MONEY Embrace equities: JP Morgan report PG32 Property 2005 Dewfcpro»matingtfoMfctebi*fobrtdEnbtes*areiMn»Houwtomß aeonfheprowlagain.ha24iiagepß|ie»sedloaßrrioetaal*ee«dt*EWmdi<atee reshaping AeSingapoiepßjperSrmarißt Get it w*h your copy of the Business Tlmestei*miw.
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    • 14 1 ■HMtffcHURRICANERItA threatened; §f SembMarine, SPC I shares soar PG4 Turbulence over late A3BCh^very .jlHHiHHfiflflZSEl
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    • 1 1 LuLiii&i
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    • 93 1 fr§. CHINA CONNECTION PG2 4 FED RfllßtSl RATES: Get the US central bank's decision at htt^^usiness-timea^sial.conLSg U M'i !^M.^WP^DDIDiin^^HIHIMII^^H Jf *r sWIM 1 W~ tWMH n *ff' if*-': j IS hronom< f^^^^^^^^^^^^Bj' nd Inspired by 18*-century marine Platinum case mm-M In sUver-I'Bk solid gold movement aP^ h#^ NGEE ANN CITY
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    • 9 1 COMMENTARY US patent disclosures need to be streamlined PGS
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  • TOP STORIES
    • 432 2  -  Pacts cover training to technology; also, big boost for trade and investments Reports by JEAN CHUA [SINGAPORE] China and Singapore stepped up economic ties yesterday, as officials from both countries signed five agreements in areas ranging from training to technology, and pledged to enhance trade
      JOYCE FANG/ST  -  432 words
    • 437 2  -  By S JAYASANKARAN in Kuala Lumpur MALAYSIA'S former deputy prime minister Anwar Ibrahim has instructed his lawyers to start legal proceedings against his one-time boss Mahathir Mohamad over alleged sexual slurs. Mr Anwar said in a statement yesterday he was "shocked" to read
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    • 121 2 IN "Black holes draw award for scientist" (BT, Sept 20), we reported that none of the discoveries of the 2005 National Science and Technology Award winners have yet been patented. It has since been pointed out that some of the winners, for example. Prof Zhang Lian Hui of the
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    • 310 2 Joint technical assistance for Asean nations eyed [SINGAPORE] China's vicepremier Wu Yi and Singapore's Deputy Prime Minister Wong Kan Seng signed an agreement yesterday to boost their countries' cooperation on human resource matters. Called the SingaporeChina Human Resource Partnership for the 21st Century
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    • 595 2 SembMarine, SPC shares soar as Rita looms SHARES of Singapore rig-builder SembMarine and refiner Singapore Petroleum Company rose yesterday as tropical storm Rita threatened to grow into a hurricane, again disrupting production on the US Gulf coast. As wjth Katrina, !<ii'Wli hwiinUrslike SembMarine and Keppel Corp are seen
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    • 544 4  -  Fears rise it could disrupt oil production on US Gulf Coast By RONNIE LIM [SINGAPORE] Shares of Singapore rig-builder SembMarine and refiner Singapore Petroleum Company (SPC) rose yesterday as tropical storm Rita developed into a hurricane and threatened to disrupt production on
      AF  -  544 words
    • 613 4 Reuters. Bloomberg [MIAMI] Tropical Storm Rita strengthened into a hurricane yesterday and lashed the low-lying islands of the Florida Keys with squalls and heavy rain. All 80,000 residents had been ordered out of the Keys on Monday but many stayed behind in boardedup homes
      Reuters.; Bloomberg; Source: MOAA,Reuters  -  613 words
    • 498 4  -  Move could cost $200 m, tenders expected next year By RONNIE LIM [SINGAPORE! Singapore refineries are considering substantial upgrading investments so they can supply environment-friendly fuel like ultra low-sulphur gasoline (ULSG) to export markets. Singapore Petroleum Company (SPC) chief executive Koh
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  • Page 2 Advertisements
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  • Page 4 Advertisements
    • 287 4 Where A Bllllbn Dollar OpMrtHlly Avails! "Ride on the USs3oobiJJion industry that is growing at J5% p.a." Date: 29 September 2005 Time:,B.oo a.m 5.30 p.m Venue: Suntec Singapore International Convention Exhibition Centre Theatre, Level 2 Fee ***** per pax (For 1-2 pax) or ***** per pax (For 3 pax or
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  • COMPANY NEWS
    • 726 5  -  HOCK LOCK SIEW By R SIVANITHY LOCAL investors have encountered two very similar incidents over the past three weeks involving companies being granted US patents that resulted in hefty share price rises after they were announced. The similarities extend beyond just share price
      726 words
    • 585 5  -  Shares, which saw strong IPO demand, pull back after initial 13% gain By KALPANA RASHIWALA PRIME Real Estate Investment Trust may have achieved the hottest response to an initial public offer in over a decade, but its stock market debut yesterday was not
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    • 170 5 TWO real estate investment trusts (Reits) are busy raising funds from the sale of new units. Ascendas Real Estate Investment Trust (A-Reit) yesterday announced the launch of an equity fund raising to raise between $216.6 million and $217.1 million. Meanwhile, Capita Mall Trust (CMT) told
      170 words
    • 452 6  -  Cheered by likely synergistic benefits, investors push stock 10% up Reports by MICHELLE QUAH INVESTORS sounded their approval yesterday for Heshe Holdings' plan to buy the embattled Citiraya Industries. Their vote of confidence pushed Heshe shares up almost 30 per cent in
      452 words
    • 528 6 SHAREHOLDERS of Jurong Engineering Ltd (JEL) yes-, terday gave the company the green light to sell its core business paving the way for tycoon Oei Hong Leong to take over the company. At an extraordinary general meeting (EGM) attended by some 70 vocal
      528 words
    • 391 6  -  By LESLIE YEE OCBC Securities (OSPL) is stepping up efforts to sell its services to account-holders at its parent OCBC Bank more than one million of them. "Using customer analytics, we discovered that 50 per cent of our customers have banking relationships
      391 words
    • 152 6 THE Singapore Exchange (SGX) said yesterday that 10 general clearing members have confirmed their participation in its over-the-counter (OTC) clearing business. "This is in line with SGX's plans to launch the SGX OTC clearing facility in the first quarter of 2006 for the clearing of
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    • 497 7  -  TROUBLED COMPANIES Trading firm incurs losses of $640,000 in the five months to August By WONG WEI KONG THAKRAL Corp, which has been struggling with falling profitability in recent months, has slipped into the red for the first half of its current
      FltE PHOTO  -  497 words
    • 348 7  -  By JEAN CHUA LINDETEVES-JACOBERG has received the first tranche of $5 million from a proposed cash injection of $24.7 million that will give it much-needed working capital. This comes after creditors representing three-quarters of the debt of the electric-motor manufacturer approved its debt-restructur-ing exercise. ATB
      348 words
    • 385 7  -  By OH BOON PING TROUBLED Firstlink Investments yesterday proposed a motion to remove its former chief executive Ngu Tieng Ung from the board of directors. The move follows Ngu, 38, being charged with criminal breach of trust in Malaysia in May. Firstlink last
      385 words
    • COMPANY BRIEFS
      • 78 7 Reuters HONG KONG-BASED Meiya Power Co Ltd, an independent power producer with assets in North Asia, has applied to list in Singapore in an IPO that would raise about US$l5O million, a person close to the plan said yesterday. The initial public offering application was
        Reuters  -  78 words
      • 76 7 KS Energy Services yesterday announced that its wholly owned subsidiary, KS Tech Oilfield Support, has entered into a lease agreement with a "North Asian national oil company" to provide a set of refurbished offshore capital equipment for a total rental of US$3 million over
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      • 59 7 HEALTHCARE group Parkway Holdings has completed its acquisition of 89.7 million shares and 24.3 million warrants of Malaysia's private health-care service provider Pantai Holdings. "Accordingly, Swiss Zone Sdn Bhd, a wholly owned subsidiary of Parkway, now holds an aggregate of 124.7 million shares in the capital
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      • 69 7 AURIC Pacific Group said yesterday that its wholly owned subsidiary, Auric Pacific Food Industries (APFI), has incorporated a wholly owned subsidiary in Malaysia called Auric Pacific Bakeries Sdn Bhd (APB). The Malaysian company has an authorised share capital of RMIOO.OOO divided into 100,000 ordinary shares
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      • 76 7 SESDAQ-USTED Sunpower Group which deals in the design, R&D and manufacture of customised energy saving and environmental protection products with heat transfer technologies in China —has formed a wholly-owned subsidiary, with a registered capital of US$5.08 million,4o manufacture pressure vessels. Last month, Sunpower secured a
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    • 691 9  -  NEWS ANALYSIS Australian telco war takes its toll on Singapore behemoth's value By ANGELA TAN MANY telcos would have given virtually anything to be in Singapore Telecom's shoes. Well, that was before the bluechip telco warned on Monday that it might not be able to
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    • 187 9 Reuters [BANGKOK] Singaporelisted Total Access Communication PCL (TAC), Thailand's second-largest mobile phone firm, expects to file for an initial public offering this year, its IPO adviser said yesterday. The prime aim of the filing to the Securities and Exchange Commission (SEC) would
      Reuters  -  187 words
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    • 109 5 citigroupT Thinking for Generations private bank > V j• r .k A. < > Ipr "a »l. 1 ■'*> .j'-'i M A .t-.M Our clients sleep better at O L Asiamoney's Private Banking Customers Poll 2005 BEST PRIVATE BANK (over US$ 20 million) r I K "The Citigroup Private Bank"
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  • Page 6 Advertisements
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  • Page 7 Advertisements
    • 279 7 An essential one-day event for business entrepreneurs, CEOs, directors, managers and business owners from small and medium sized organisations providing fundamental advice on how to deal with all challenges facing both new and expanding businesses. Wed, SVWRMHBOOS We are holding workshops in two specialised tracks enabling you to choose the
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    • 408 7 ppi. i u iii .ti *.w"A wJ, J,f ■■jji I International Monetary Fund 1 I Employment Opportunities K- An IMF recruitment team will visit Japan, Korea, Singapore, and ThaHand during the period 3S k October 31-November 11, 2005 to seek candidates for employment opportunities at its S K Washington, D.C.,
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  • SINGAPORE MARKETS
    • 881 8  -  CURRENCIES C$ and A$ obvious beneficiaries; oil worries resurface with hurricane threat LARRY WEE Senior Correspondent AN accelerated run-up in gold prices to fresh 17-year highs took centrestage in financial markets over the past week, even as untidy election outcomes for the euro
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    • 438 8  -  TRADES TO WATCH By DANIEL BUENAS MALAYSIAN tycoon Quek Leng Chan has once again tightened his grip on BIL International, which is the subject of a general offer by his Hong Kong-listed vehicle Guoco Group Limited. BIL yesterday announced that Mr Quek
      438 words
    • Article, Illustration
      409 8 OTHER SINGAPORE INDICES Sep 20 VALUE CLOSE BT OB/OS 200.00 +94.00 IT CADI -*****.00 +57.00 IT 10-day MA -*****.00 +20.00 AM-SG Equities 591.05 +2.53 SG Equities Elect ***** +2.75 SG Equities Hit 1659.84 +5.58 SG Equities Prop 690.62 +3.42 SIMSCI 273.63 +1.67 SIMSCI Futures 273.60 +0.90 MOST ACTIVE STOCKS VOLUME
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    • 272 8  -  Compiled by UMA SHANKARI Singapore Telecom Sept 29 dose: $14S DBS VICKBtS SECURITIES. Sept 20 SINGTEL revised the guidance for its Optus unit, reflecting the heightened competition it faces. Due to the continued impact of pricing pressure and competition, particularly in Mobile (70 per cent of Optus Ebitda),
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    • 404 8  -  STOCKS R SIVANITHY Senior Correspondent THANKS to a bounce in the futures market for US indices, a rebound in Singapore Telecommunications and a strong showing in regional majors Hong Kong and Japan, interest in local equities came flooding back yesterday, led by a robust debut
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    • 262 8  -  CHART POINT More range-bound activity seen in the short term while macro events unfold By Yeo Kee Yan, chartist at Kellve Research THE upcoming meeting of the US Federal Reserve, the possible arrival of another hurricane (Tropical Storm Rita) and Singapore Telecommunications' lower profit
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  • Page 9 Advertisements
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  • SINGAPORE NEWS
    • 358 10  -  Republic in the final stages of charting next Science and Technology Plan By MATTHEW PHAN THE R&D scene in Singapore has made impressive strides over the last 15 years, with expenditure having risen seven-fold from $570 million to over $4 billion. This was the broad
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    • 418 10  -  By UMA SHANKARI SINGAPORE must continue to invest for its future, and that means according education,,training and R&D their due importance in wealth creation, said former deputy prime minister Tony Tan at a tribute dinner held for him last night While he, has
      ABDUL AZIZ HUSSIN/ST  -  418 words
    • 398 10  -  By CHEN HUIFEN SINGAPORE'S MerLion Pharmaceuticals is to help the world's largest cancer charity in its search for new lifesaving drugs. MerLion's partnership, announced yesterday, is with Cancer Research Technology (CRT), a company wholly owned by Cancer Research UK, the largest independent funder
      398 words
    • 146 10 MEDIACORP'S group chief executive Ernest Wong will join investment company Temasek Holdings next month as a member of the Temasek Advisory Panel, a CNA report said yesterday. Mr Wong, who announced his resignation earlier this year, revealed his plans during a farewell dinner. "I have
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    • 391 10  -  By ARTHUR SIM NEW regulations concerning the construction industry have been welcomed by the Singapore Contractors Association Ltd (Seal), but its new president, Desmond Hill, last night cautioned: "While (these) may have been introduced with good intentions, they do not come free
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    • 331 10  -  By GENEVIEVE CUA SCRUTINY of the people behind a fluid management team and their process ranks as high as historical returns, or even higher, in the Monetary Authority of Singapore's evaluation of the external fund managers it has appointed. To date,
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    • 501 11  -  Local unit not involved in paring of 2,400 jobs in Germany By RAJU CHELLAM GERMAN giant Siemens won't be cutting jobs in Singapore, where it is expanding manufacturing and R&D, but will be hiring talent instead. The company, which employs 2,000 people here, yesterday
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    • NEWS ROUNDUP
      • 52 11 THE Economic Development Board (EDB) has awarded international headquarter (IHQ) status to Transocean Eastern (TEPL), a subsidiary of offshore drilling contractor Transocean Inc. The headquarters for Transocean's Asia Pacific Unit, TEPL oversees the operations of 29 mobile offshore drilling rigs and other drilling units in
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      • 59 11 FOLLOWING the US extension of the deadline for countries to introduce biometric passports to Oct 26 next year, the Immigration and Checkpoints Authority (ICA) said yesterday that it is reviewing Singapore's own schedule. The ICA said, 'full introduction of the biometric passports is
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  • Page 10 Advertisements
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  • Page 11 Advertisements
    • 292 11 j^.'^ -L.. Kli I ft i 1 V M M ft Hi fiD\ W» fly when you can soar? We are pleased to announce that Cathay Pacific, Hong Kong's 7ahm9 airline, was named Airline of the Year in the Skytrax survey of over 12 million passengers worldwide. And our home,
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  • ECONOMY WATCH
    • 465 12 Offer will stay for three months while it keeps its output quota unchanged AFP [VIENNA] Opec will maintain its official production at 28 million barrels per day but will make two million more barrels per day available if demand surges,
      AFP  -  465 words
    • 561 12 Home ownership costs average by historical standards Reuters [WASHINGTON] Fears of a US housing bubble are probably unfounded be-" cause the costs of home ownership are average by historical standards, a study by economists from two universities and the Federal Reserve system
      Reuters  -  561 words
    • 480 12 Reuters [LONDONI Investors poured more money into gold in Europe yesterday,, searching for a haven to protect against rising inflationary fears and uncertainty about the US economy, traders and analysts said. Oil prices surged 7 per cent on Monday as a fresh
      Reuters  -  480 words
    • 347 12 AFP [WASHINGTON] The International Monetary Fund said in a major review of its activities on Monday that it has been pulled too Car from its six-decade-old mandate of policing the global financial system. Hefty bail-outs of countries suffering liquidity crises in the
      AFP  -  347 words
    • 340 12 AFP [WASHINGTON] Hurricane Katrina will have only a short-term hit on the US economy and the govern* ment can afford the huge reconstruction spending that it plans, the White House said on Monday. "This storm has had an impact, and it will
      AFP  -  340 words
    • 477 12 [TORONTO] The leading industrial economies need to reform their corporate tax systems by lightening taxes on capital to attract new investment if they are to overcome Asian countries' advantage in labour costs, says a report in the Financial Times, citing a
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  • Page 13 Advertisements
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  • MALAYSIA/INDONESIA
    • 188 14 AP [KUALA LUMPUR] Hundreds of students at an American international school in Malaysia were evacuated and the school was closed yesterday after it received a "credible" bomb threat, officials said. A school official said the threat came in a telephone call to the
      AP  -  188 words
    • 467 14  -  Judged by returns of their buy/sell recommendations and estimates By PAULINE NG in Kuala Lumpur FOREIGN research houses made some of the better recommendations on Bursa Malaysia large-cap stocks, according to a rankings survey. Of the top 10 broker recommendations on Malaysian largo
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    • 472 14  -  By S JAYASANKARAN in Kuala Lumpur JIM Walker is chief economist at global investment bank CLSA, a genial conversationalist and something of a pundit on economic matters. Which means that when he says something, most people take him seriously. That's why his analysis early
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    • 2214 14 VOL General Corp 040 undi 57 —I W- (HH Genting 20.10 unch 1725 George Kent .0.60 unch 33 AftMRaalty 143 unch 0 GHL Systems —3.12 unch 422 -#33 GlobetroniaTech 0.35 -OOI 825 ACPIndurtrias .0.63 002 12 GtomacMid 130 -OOI 1737 Advance Synergy 036 -0.01 60 Gold Bridge -0-14
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    • 473 14 Reuters. AP. AFP [KUALA LUMPUR] Malaysia was on heightened bird flu watch yesterday as South-east Asian neighbours Vietnam and Indonesia struggled to fight the virus, and the concerns knocked local poultry firm shares down as much as 4 per cent Malaysia has
      Reuters.; AP.; AFP; REUTERS  -  473 words
    • NOTE BOOK
      • 101 14 Bloomberg [JAKARTA] Indonesia plans to sell a minority stake in Bank Central Asia, the country's second-biggest lender, today, the Jakarta Stock Exchange said. Trading in the shares will be suspended for one day, it said. The government owns a 5.02 per cent stake in Bank
        Bloomberg  -  101 words
      • 107 14 Reuters [SINGAPORE] China's second-largest oil firm, Sinopec Corp, is merging its two trading arms to better manage a growing portfolio, giving more muscle to dominant trading arm Unipec, company sources said yesterday. Sinopec shifted its crude import business earlier this month from trading unit Sinopec Hong
        Reuters  -  107 words
      • 85 14 Reuters [NEW DELHI] India's Oil and Natural Gas Corp (ONGC) yesterday said it had acquired a 30 per cent stake in seven exploration blocks in Cuba. ONGC Videsh, the overseas arm of the state-run exploration firm, signed the agreement last Thursday with Spain's Repsol-YPF, which
        Reuters  -  85 words
      • 62 14 Bloomberg [KUALA LUMPUR] Penerbangan Malaysia Bhd, majority owner of the country's biggest airline, plans to raise about US$l billion selling US dollar-denominated bonds for the first time, bankers familiar with the plan said. The state-owned company hired Citigroup and CIMB Bhd to manage the sale
        Bloomberg  -  62 words
      • 103 14 AP [MANADO] The world's biggest gold mining corporation, Newmont Mining Corp, will stand trial on charges of dumping mercury and arsenic-laced pollutants into an Indonesian bay, after a panel of judges yesterday rejected a request by the company to drop the case. American Richard Ness, the
        AP  -  103 words
      • 103 14 Bloomberg [MUMBAI] India's one million employees at state-owned banks and insurers will join a general strike on Sept 29 to protest government policies, a trade union leader said. Workers for the central and state governments and the Airport Authority of India will also take part
        Bloomberg  -  103 words
      • 176 14 Bloomberg [KUALA LUMPUR] Malaysia's central bank, seeking to widen access to its financial industry, said bids for its four Islamic insurance licences will close at the end of next month. The bids for the licences will close on Oct 31, Bank Negara Malaysia deputy governor Zamani
        Bloomberg  -  176 words

  • CHINA/INDIA
    • 710 15  -  Possible conflict seen over water sources in the Himalayas By ANTHONY ROWLEY in Oxford COM PETITION for oil and other forms of energy is becoming intense as China and India vie with established industrial powers for access to global resources. But "water wars" are also looming.
      REUTERS  -  710 words
    • 323 15 AP [HONG KONG] A Macau bank blacklisted by US authorities went on the offensive yesterday againsfr allegations that it laundered money for North Korea, refuting some of the US accusations in detail and announcing it had hired US lawyers to make its case. The US
      AP  -  323 words
    • 170 15 [NEW DELHI] India has decided not to take up the United Kingdom's offer to explore a possible bilateral agreement on financial services along the lines of the one signed with Singapore, the Financial Express reported. UK's Trade and Industry Secretary Alan Johnson had
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    • 180 15 Bloomberg [BEUING] China Mobile (Hong Kong) Ltd —the world's largest mobile-phone company by users—isn't in talks to buy India's Reliance Telecom Ltd, according to a spokeswoman. "Officials at the group company made a trip to visit the Indian operator, but we
      Bloomberg  -  180 words
  • Page 15 Advertisements
    • 52 15 Some stand at the crossroads of power and luxury. Some choose to own it all. t T The new Lexus GS 300 Lex us is the bestselling luxury c.ir in the U S for 5 consecutive years. r>oiiHii Motors (Plexus BORNEO MOTORS S PTE L T P LEXUS SALES LEXUS
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  • ASIA-PACIFIC/WORLD
    • 787 16 Kozlowski, Swartz also ordered to pay millions in fines and restitution NYT. AP [NEW YORK] L Dennis Kozlowski, former chief executive of Tyco International convicted of looting the company of US$l5O million, was sentenced on Monday to between 8-1/3 and 25 years in a
      NYT.; AP  -  787 words
    • 467 16 AP [NEW YORK] Even though the devastation caused by Hurricane Katrina and its aftermath are extraordinary by all historical standards, they will not be considered that when companies account for the cost of such damage in thenearnings reports. Under current accounting rules, companies cannot
      AP  -  467 words
    • 418 16 Highly volatile oil prices, M&A boom boost its figures Bloomberg INEW YORK] Goldman Sachs Group said quarterly earnings surged 84 per cent to a record on a jump in mergers advice and fixedincome trading. Net income climbed to US$l.62 billion, or U553.25 a
      Bloomberg  -  418 words
    • 387 16 LATEST US DATA Reuters [WASHINGTON] US housing starts dropped by a larger-than-expected 1.3 per cent in August as a 9.4 per cent slide in multi-fami-ly housing construction offset a slight increase in groundbreaking on singlefamily homes, a Commerce Department report
      Reuters  -  387 words
    • 301 16 AFP [SYDNEY] Australia's two largest media companies yesterday denied in court that they had conspired to deprive a rival commercial television network of lucrative sports broadcasting rights. The Seven Network, owned by media mogul Kerry Stokes, is seeking Asl billion (Ssl.3 billion)
      AFP  -  301 words
    • 467 16 AFP [NOUMEA, New Caledonia] Any global bird flu pandemic could be impossible to contain a few weeks after the initial outbreak, a World Health Organisation (WHO) expert warned yesterday. "There's a very short time period two to four weeks between
      AFP; AP  -  467 words

  • WORLD
    • 284 17 NYT. Bloomberg [AUSTIN. Texas] Dell Inc started selling its first flash-based portable music player yesterday, taking fresh aim at the popular iPods that dominate the market for digital tunes. The release of Dell's DJ Ditty is part of the
      NYT.; Bloomberg  -  284 words
    • 384 17 It won't wait for appeal outcome before taking fresh action: official NYT [BRUSSELS] Almost 18 months after the European Commission ruled that Microsoft had abused its dominance in the software market, Europe's antitrust authority is considering opening new cases against the company, competition
      NYT  -  384 words
    • 40 17 [LONDON] Hannah Schmidt, of London auction house Christie's, studying a rediscovered Titian masterpiece. The portrait of a lady and her daughter was revealed after 20 years of delicate restoration and will be auctioned in December. AP
      AP  -  40 words
    • 662 17 MARKET TALK Profits hit as short and long-term rates gap narrows NYT [NEW YORK] For years, Commerce Bancorp has positioned itself as more of a retailer than a bank, modelling its branches after McDonald's and Starbucks and hiring from places like Wal-Mart and Disney. Unfortunately,
      NYT  -  662 words
    • 367 17 Purchase may give a boost to HP's ailing software unit Bloomberg [NEW YORK] HewlettPackard (HP) has agreed to buy Peregrine Systems Inc for US$425 million to add software for companies to manage their computer systems. The offer of U5526.08 a share is
      Bloomberg  -  367 words
    • 351 17 Bloomberg [KUALA LUMPUR] Islamic banks will be required to follow uniform capital standards and improve risk management systems under new regulations that will be put in place by the end of the year, the Islamic Financial Services Board said here yesterday. The board
      Bloomberg  -  351 words
    • 545 17 Reuters [MEMPHIS] The credit card industry's battle against Internet-based thieves had reached a stalemate and the industry would have to spend millions of dollars over the next decade just to keep up with the criminals, the top security experts at the
      Reuters  -  545 words

  • AVIATION
    • 465 18 Proposed increase to 49% from 25% will give carriers access to a bigger pool of investors Bloomberg [MONTREAL] Canada may raise the limit on foreign ownership of the country's airlines to 49 per cent from 25 per cent to give the carriers
      Bloomberg; BLOOMBERG  -  465 words
    • 494 18 US Airways also to raise US$275m through stock, convertible bonds Reuters [KUALA LUMPUR] Penerbangan Malaysia, the parent of state carrier Malaysian Airline System, plans to sell by next month up to US$l.2 billion of bonds to help finance the purchase of new
      Reuters  -  494 words
    • 271 18 AFP. Reuters [BEIJING] China Eastern Airlines, one of the country's top three carriers, has called for an end to the monopoly of fuel supply in the domestic market, which has sent its profits diving, state media said. "The fuel monopoly system must
      AFP.; Reuters  -  271 words
    • 122 18 AP [CHICAGO] The US Internal Revenue Service filed a claim in the federal bankruptcy court on Friday saying United Airlines' parent company owes more than US$ll4 million (*****.9 million) in excise taxes for missed contributions to its pension .plans. The filing adds to the
      AP  -  122 words
    • 477 18 AP [GENEVA] Two European airlines will allow passengers late next year to use their own cell phones on commercial flights within western Europe, a Genevabased technology firm said yesterday. TAP Air Portugal and British carrier bmi both have agreed
      AP  -  477 words
    • 1660 18 WA r Sg3Si 0530 SK972 2155 ;g| <83 88 ag 1 jg BA &j iia ffig; :e M11 AMHtmluR SO323 0620 AZ3993 2255 Q*°' —l®r5i rt^r-mz AZ39*2 1450 K1538 2255 Paw MI588 1835 MtSM 0840 KL837 1450 5Q324 2345 Ddh. ***** 0630 S2082 0900 T— SQ348
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  • Page 18 Miscellaneous
    • 155 18 CRYPTIC CROSSWORD 1 FYcx in court get nc> one's backing (6) vealed (8) YESTERDAY'S SOLUTION ST Pansian quartet 16 Native wants old clothing popu- Across: 1 Retraction, 6 Stop, 9 3 vA/aitor finHc a m/aw tn servp ,ar in nco,n Swamp, 10 Reinstate, 12 Protuber--3 Waiter finds a way to
      155 words

  • SHIPPING
    • 568 19  -  Surging oil prices, ageing fleet, deepwater support operations' needs are the main drivers By DONALD URQUHART [SINGAPORE] Surging oil prices and an ageing fleet of vessels are among key drivers behind the robust market for new generation offshore support vessels (OSV) that increasingly
      FILE PHOTO  -  568 words
    • 313 19 It plans to barge cargo via the Sacramento River to ease congestion AP [OAKLAND, California] Port of Oakland officials want to take control of the financially struggling Port of Sacramento as part of the ongoing efforts to expand maritime terminals to meet the
      AP  -  313 words
    • 254 19 Reuters [TOKYO/SEOUL] Shipping rates for benchmark Asian routes extended gains on expectations of greater demand for US grain carriers and higher iron ore demand from China where inventories are falling, brokers said. Spot voyage fixtures for modern panamax rates for the
      Reuters  -  254 words
    • 204 19 Bloomberg [OSLO] Saudi Aramco, the world's largest oil company by output, hired as many as three tankers to ship as much as six million barrels of crude from the Persian Gulf next month to supply US refineries before the
      Bloomberg  -  204 words
    • 894 19  -  STRAIT TALK By DAVID HUGHES LAST week's International Shipping Federation (ISF) Manning and Training Conference was characterised by a degree of goodwill between the employers' anil employees' representatives that simply couldn't have been believed five years ago. Ironically the one really divisive
      894 words
    • 125 19 Bloomberg (LONDON] Shipowners may need to spend as much as US$3O billion on liquefied natural gas (LNG) tankers between 2010 and 2020 tp meet the rising demand for the ftiel and to replace ageing vessels, GP Wild (International) Ltd JAs many as 100 vessels,
      Bloomberg  -  125 words
    • 302 19  -  By ALEC ALMAZAN in Manila THE Port of Subic has taken delivery of seven harbour vessels from Japan worth 386.5 million pesos (5511.5 million) to support its marine terminal operations. Subic Bay Metropolitan Authority administrator and CEO Alfredo Antonio said that the acquisition
      302 words
    • 291 19 SGX s«p 2o a »oi CH Offshore 0.40 unch 450 ChuanHup .0J9 unch 642 Coco Corporation 336 -0.03 1187 CWT Distribution _.....0.74 -0.01 10 EjraHldgt 154 0.04 3151 Freight Links 0.06 inch 540 Grand Banks Yacht 0.95 unch 0 Java Holdings 1.35 0.03 816 Kt Venture-.. -J032 -0.01
      291 words
  • Page 19 Advertisements
    • 24 19 taiim rii mdft n n /*<!■■ »ilSrtmAl(i n %3HBHHICBuOn ✓""V INT^RmrSERVJC^UALJTY Keeping you ISClatf a f the forefront of maritime safety, I security and envlronmenttikprotectlon
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  • EDITORIAL & OPINION
    • 498 20 EDITORIAL WHETHER there is a huge pool of oil to be tapped or whether oil reserves are about to run out are merely academic questions in the face of continued rising energy prices. There may indeed be plenty of oil and gas lying embedded in deep
      498 words
    • 1040 20  -  Airbus may have to pay US$50-80m compensation for the first batch of delayed planes VEN SREENIVASAN Senior Correspondent AFTER a grand unveil in January, followed by a successful test flight in April, the last thing Eurppean planemaker Airbus needed were suggestions from customers that it
      REUTERS  -  1,040 words
    • 760 20  -  THE BOTTOM LINE WILLIAM PESEK JR Bloomberg YOU'VE heard all the superlatives about China: How its potential is boundless, how the place is run by brilliant master planners, and how it will rule the global economy 25 years from now. While that
      Bloomberg  -  760 words
    • 953 21  -  And companies should harness that concept to propel their business JOE BALADI AS INTERESTING and topical as "branding" might be, there seems to be little correlation between the over-the-top frequency of efforts to explain what is a brand and~the incidence of actual comprehension as measured
      BLOOMBERG  -  953 words
    • 746 21 NYT WHEN Alan Greenspan warned that the stock market was displaying signs of "irrational exuberance", share prices collapsed—four years later. Now, the Federal Reserve chairman says he can glimpse similar frothiness in housing prices. Does that mean that investors who have benefited from
      NYT  -  746 words
    • 267 21  -  LETTERS TO THE EDITOR John Gollifer Head, Corporate Communications and Investor Relations Singapore Exchange Singapore I REFER to the letters in your newspaper, "Ban contra trading to remove false market" by Tay PH (Sept 15)r "It's a lifeline" by Jimmy Ho (Sept 16)
      267 words
    • 312 21  -  Andrew Low Singapore I REFER to the letter, "No need to worry that RTC will go bust or disappear", by Tan Kok Tim (BT, Sept 16). I find his views worrying. First, Mr Tan seemed to be under the impression that there are
      312 words
    • 274 21  -  Lee Yow Jinn Singapore I ATTENDED the "CEO Forum of Development Institutions 2005" in Kuala Lumpur, during which the Second Minister of Finance, Nor Mohamed Yakcop, announced the setting up of the SME Bank. This was reported in BT on Sept 13.
      274 words

  • Page 21 Advertisements
    • 40 21 FT©7l D Lianhe Zaobao I R&D investments I I attracted: I I now ranks I I 3rd in the I I world I I after US I I Japan I I I I R=A I I mhbmsm I «*«+s» I
      40 words

  • 9990 22 SGX MAINBOARD 52-Wk Tel List Vol Day Lift Quota GrfMv Ofe GrYW MM MCm Wgh Low Code Sate COOP) Hfh tom Warn 5*f Or fK tH 10 2 5716 1st Software Sc 3 unch 517 3 3 3 i.S ttj 285 8.5 3148 8TelecomUS2c 9.5 unch 1503 95
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  • Page 22 Advertisements
    • 108 22 *li Trade US equity CFDs commission fw ii, i- |i; i 1 ,f t r i Why would you trade Contracts for Differences (CFDs)? 'ill i 1: i> i i 'I I ''l' i i' 11 t' l i k tr ir i 'i f r 1 l i* i
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  • 6223 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr la St In US$ dy yr dy %yr %dy %yr Sap 19 Index Ch«no» Chang* Qmnq« Chang* Chang* Chang* World Index Preliminary 920.7 -03 8.0 -03 72 -03 4.1 EAfE Preliminary 886.7 0.0 14.8 -0.2 8.5 -0-2 53 Europe Preliminary
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  • Page 24 Advertisements
    • 866 24 We offer fully containerised service nloballv sr E y Mediterranean/Russia Black Sea.'Latir, America/South Africa Australia New I I|\ jj Zealand• Hawaii/Mexico Intra-Asia Y For complete/specific schedule WE ARE MORE THAN JUST A LINER COMPANY information, please visit our Global Homepage: www.nykline.com iPP|T x j|jj|j f jyti*' fc V jHRft Visit
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    • 667 24 i—'zi. -zi*i |n 7 B? iiTVii i*l i wmrm wnm ibmhpq ns km io m jkt STUITS VBITIIIE H/OS IS U IS/W 11/W WW ?VW 27/01 STKAITS VBfTUK 20/05 IS 12 30/01 02/10 04/10 01/10 11/10 |smnswnig?i/» is 12 ivio u/io io/io I tvio g/io mo imvici I VBgL/VOr UWgT]
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  • Page 25 Advertisements
    • 1011 25 www.homburßSud.tom ASIA SWVKI SUMO 1 (BffOtT) *SU SBVKI SI—HEPOW) w/v«— sSowom duwaw stftrm samtos mm wumuwn sßLmb mamimß bo ami mips sikt»a ikna Simon 504W 21/W 00/10 I*/I0 20/10 21/10 23/10 SMhtotafelWW& 17/10 10/*****11 23/10 C* lonovsta 504W 05/10 11/10 26/10 27/10 20/10 30/10 C*Mw5l4W 01/10 24/10 20/10 21/10 JC/10
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    • 992 25 Tgsa _w si it m mi i rw ro rasa wy sm iter sui hkg usw wis HTMQg lOCS 22/* 24/9 29fl 1/11 V 1» S/10 S/ll OffCUWTA 513S 2S/f 2V* 4/10 «/10 f/10 NT WADWOSIW IiSS 29/9 1/10 t/10 1/10 10/1012/1012/10 KMTC UISAW 51«S Z/10 S/10 «/10 11/10 15/10
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    • 785 25 m WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS Vtssa I VOT I SW I PJUNCICQiO—O H SHIV* COIOMK) Howm«M)ct OMSW Msg 17st> I »»I 03on oton mumm TWW7I 03 oa 04 oa loa uun liQfl JMtJftflft**==*=J§= ALSO ACCEPIW6 Fa TO COCMM, TUIKOBN (VIA COUMMO)
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  • Page 26 Advertisements
    • 589 26 ufijlf WALLENIUS WILHELMSEN website: http://www.2wjlobol.ioin LK MAP HOW MU SAY Mi Otf WTC WW IQt TAMEKUNE AFS26 3201 ms MM I 20/00 21/10 30/10 01/11 07/11 OS/11 TAIKO lAFS27 4201 M* I 6.4 M I 05/10 30/10 01/11 11/11 17/111 IS/11 lAIAOOT AfSS2 |400T-i |UM 13/10 00/11 10/11 22/11 2S/11
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    • 1107 26 mum iaa urn m/w KSST HI? "fl? iis Jtsa so a zh— mc sns 27/09 21/09 wtcMirg WMOS nm um KftZSS «2 M/E S/E MWS pimm nm nm RmSm sns m7io 5/S HibHS WW 64/16 B7Trj wr WfliPL. gf" fffl? M? I'fl! VJXI _iUMiUL2 l!S 22ZH Mm I j™""" 8
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    • 587 26 BSA x MYANMA nH five star une (Mywmor Natioial Lint) Loading for Yon go* vissa vor sin pki pen pgu PAGAN SOW SU> PAGAN 349W SID IN MALAYSIA: lOUSTEAD SHIPPING AGENCIES KUt/PKL 03-300 SUM PEN: 04-2****** jLsammm ACCEPTIIfI CONVEWTIOWAL CBO VESSE VOT KG SN Ptt PA lIK OOAMA QUEEN 131
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 9207 27 tTA ETA MMTttor VmmI Voy««* Tekpfcom ETA HA AAwUmt VmmI Mm T|I SIN taftti Hum Nmm Maabar Nwfttr SW OmCm Mm Nmm Mnbw Mntar t 06/12 03/01 NGPl PACIFIC ADVENTURER 031 *****288 tb ABIDJAN (ABJ) 2003 Cote D'lvoire To AQABA (AQJ) 2023 Jordan 64/10
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  • Page 27 Advertisements
    • 350 27 K|i Taiwan KM kei/khh/txg \Weekly Consol Service/ Eja v_ usa All IPI via LAX/NYC (MLB/AWS) HUB MARINE PTE LTD I BOOKING: *****375/718 MAINLINE: *****666 FAX: *****066 Off! COOe-OZ" CR NO **********0Z I MARKETING SALES: KELVIN CHUA: *****636, MEUNA LEE: *****167 "VKSfI VOYAGE I PKG SIN T6N l VOY SIN I
      350 words
    • 452 27 FREIGHT LINKS EXPRESS PTE LTD 51 Penjuru Road, 3rd Level, Frei Links Express Logisticentre, Singapore *****3 E-mail: flesin@singnet.com.sq Website: http://www.freightlinlc.net ■■■gg#' iI ATTRACTIVE RATES TO: ttM'm ALCXANDRIA OCNOA KEUUNG KAOHSIUNG LS HAVRf MALTA MAM MARSSIUJ BmJjIM! CKMI DAUAN HON© KONO JAKARTA QMOOAO SHANGHAI SURABAYA Wt&T fIHH XINOANG XIAMIN W* 'jfHjp
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    • 274 27 I lljlWiilHl HBHBITW^I^32oS^«S/5^»32/l^m^ ■P9MRH TIGER SKY 321N 27-28/09 044)6/10 11-12/10 HUSUiSUI IKB WAVE 322* 01-02/10 07-09/10 15-16/10 323N 04-05/10 11-13/10 1819/10 ■■■■■TIGBISa 324K 00-09/10 14-16/10 22-23/10 1 JMBJjncaSIOf ***** 11-12/10 18-20/10 25-26/10 1 HMMMNflblue link iu 30-01/10 oe-io/io 18-19/101 ■|UU||fIxP(tESLHOTSE 629 0546/10 13-15/10 24-25/10 1 BWwaOlff Olh 08-08/1 OfOK DISCHAKGIWG
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  • MOTORING
    • 431 29  -  More than 50% rise in R&D staff with transfer of more Europe projects By SAMUEL EE GERMAN, automotive electronics supplier Siemens VDO Automotive will spend seven million euros (5514.3 million) this year expanding research and development (R&D) in Singapore. And
      431 words
    • 495 29  -  By SAMUEL EE AUTHORISED Honda distributor Kah Motor expects the new City to fill.the parking space likely to be vacated by the Civic when the nextgeneration model of the latter is introduced. "The next Honda Civic will grow in size and its market
      495 words
  • Page 29 Advertisements
    • 185 29 Thai Jeep Adventure ■Sm3| jggj mDare to get behind the wheel? Three BT readers wifl be picked to join the Jeep Adventure, an annual Pan-Asian event organised by DaimlerChrysler SEA Pte Ltd. This year, participants can look forward to an experience of a lifetime at the rugged Kuarrtan outdoors, conquering
      185 words
    • 28 29 Geta I Leading Edge Your sailing schedules get wider attention in The Business Times shipping pages I Call Bernard Ong at 6319-1645 or Michael Chng at 6319-2062 1
      28 words

  • Page 30 Advertisements
    • 628 30 I I I I I i [ij Ijl 11 I y h>->S;?y>f t -£i:?i Introducing The Business Times-NTU Annual mi mmmmmmmmrnimmmmmmmmmmimmmmmMmmmmimmmmMßmmmmmtmmmmmmmmmmmmmmmmmmmmmmmmm>mmmmmmmmmmmmmmmtm*immmmmmmmmmmmmmmtm India is one of the world 's fastest We believe this conference will Public Release a* "The Business growing-economies but It is also prove invaluable for investors, Timee-NTU Annual
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    • 62 30 executive Set batch Mondays to Fridays 12.00n00n to 230pm (last orda) $26+++ per person 63<tom to 1030pm (last order) (fflfe Set Dinner Menus from $88+++ (inclusive of wine) \JLZ Ma-carte menu is also available. IteMniationK 6831 6258 M^ffus MANDARIN A drvision oi Owhu Union Eittetprise Limited (Company Registration N0.*****0050E) 333
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  • executive Money
    • 1459 30  -  <tax@kpmg> DENNIS McEVOY and LIANG MUN CHUAN discuss the significant tax and non-tax-related aspects of such a move DENNIS McEVOY, LIANG MUN CHUAN IT IS not uncommon for expatriate employees who originally intended to remain only for the duration of their Singapore assignment to
      1,459 words
    • 257 31  -  By Chua Boon Lee, THE overwhelming loss of life and economic damage wreaked byHumovieiCatmawillgodGMmastheworstnativaicisaster in US history The economic toll to the entire Guif Cost communities remains ufldear; ahhcugh some esSlroftafrfaCßd A n A-,I j nr#- I 1/1 A L |H|jut tne totai cost at around to>zuu DHiion. hnanoai
      257 words
    • 1299 31  -  MONEY MATTERS Investors should never look at the fund price to judge if the fund is cheap or expensive WONG SUI JAU T- HERE are a few misconceptions investors have about unit trusts. with some treating them like stocks. We look at three common
      1,299 words
    • 3242 31 UNIT TRUSTS FUNDS Eun »»*«CK<P 94.9734/ AM* Ainro Aaat Mgt (S*pora) c!SS3fSS/?f.. 1 4S/ Stv Europe Eqty!" 0 .858/ Clti Asa WtmBuc*** 0.7726/0.8035 Star Eurooe Bond 1256/ OtiJapBi St* Europe Bai 1.16# GtBond S'pore A/S 1292/ Star Asian Tiger Eqty 1.06V Ci«ond S'pore B/S 1342/ Star Asia Bond 1.334/ CKi
      3,242 words
    • 1087 32  -  JP Morgan argues that the sweet spot for bond investments is over as risk reward balance favours Asian equities, reports GENEVIEVE CUA GENEVIEVE CUA IF YOU have invested your Central Provident Fund (CPF) money only in government bonds 10-year Singapore government bond yields currently stand at
      1,087 words
    • 485 32  -  By GENEVIEVE CUA A SHIFT in the asset allocation mix of various Asian pension funds .could see an influx of up to US$42O billion into equity markets, says JP Morgan's Asia Pacific equity strategy team. In its report "Embrace. Equities", regional head of equity strategy Adrian
      485 words

  • Page 31 Advertisements
    • 25 31 PIMCO Global Ron I Return I und a lund that is hedged against (jlohfi! inflation Allianz (rti) Rated 5-stat by Meicei Investment ('onsidtsiuj Global investors
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