The Business Times, 14 June 2006
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2006-06-14
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The Business Times
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Title Section18 2006-06-14 1 THE BUSINESS TIMES Wednesday, June 14,2006 SINGAPORE 85 cents i online at http://business-times.asia 1 .corri.sg MICA (P) 099/03/200618 words
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Article, Illustration872 2006-06-14 1 TEH HOOI LING - Fears of global hard landing emerge as central banks, led by US, tighten policy By TEH HOOI LING [SINGAPORE] A selling tide swept across the world's stock markets yesterday first in Japan, then Korea, Taiwan, Australia, Singapore, India and Europe sending manyARTHUR LEE - 872 words
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591 2006-06-14 1 CHUANG PECK MING - By CHUANG PECK MING [SINGAPORE] Singapore investors started dumping shares on Wall Street before the big sell-off in the past month. They turned net sellers in the first three months of the year while the Dow and Nasdaq were still climbing, reversing591 words
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Article136 2006-06-14 1 Dsn 2,***** (-45.18) ST INDEX FUTURES 2,295.00 (-45.00) siMsa 272.75 (-5.08) SIMSO FUTURES 273.20 (-4.70) MARKETS Tiwsday Chang* KLSECOMP 903.63 -13JOl NIKKEI 225 14.218.60 -614.41 HANG SENG 15,234.42 -387.02 SET INDEX dowd JAKARTA COMP 1,236.57 -36.54 MANILA COMP 2J20.29 -39.21 SEOUL COMP 1,203.86 -35,98 SHENZHEN B 276.83 >033136 words
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Page 1 Advertisements
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Advertisement75 2006-06-14 1 WORLD CUP 2006 Spain faces tough test HV from Ukraine MBP Lfl MOTORING KB Arrival of new Camry |PH|H causes a stir PAGE 30 MORE REPORTS BOJ chief put 10m yen into scandal-hit fund PAGE 2 Remarks that made Wall St, and the world, fret PAGE 2 sn hit by75 words
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Advertisement10 2006-06-14 1 EXECUTIVE MONEY Erratic growth of financial advisory market PAGE 2810 words
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TOP STORIES
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Article, Illustration490 2006-06-14 2 ANTHONY ROWLEY - Jittery Tokyo bourse falls 4% on disclosure; yen hits 6-week low By ANTHONY ROWLEY in Tokyo BANK of Japan (BOJ) governor Toshihiko Fukui yesterday admitted contributing 10 million yen (*****,561) to high-profile fund manager Yoshiaki Murakami who was arrested last week onAFP - 490 words
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636 2006-06-14 2 ANDREW MARKS - Remarks that made Wall St and the world fret By ANDREW MARKS in New York WITH the US Federal Reserve in the unwelcome position of having to try to limit inflation while avoiding damaging a precarious economy, Wall Street and financial markets around the world are growing more sensitive by636 words
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Article64 2006-06-14 2 IN "Canada court rejects claim of bias in S'pore judiciary" (BT, June 13), we reported that Philip Jeyaretnam represented EnerNorth in the dispute. Mr Jeyaretnam acted for Oakwell not EnerNorth. And in "While the rich and famous play, China and India prevail" (BT, June 10), we abbreviated the Ernst64 words
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Article508 2006-06-14 2 CPF changes: No major effects on market seen CHANGES to Central Provident Fund schemes announced a year ago will take effect on July 1, but property consultants do not expect them to have a significant effect on the property market. Of the four changes, two the phasing out508 words
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617 2006-06-14 4 ARTHUR SIM - Of the 4 changes effective from July 1, 2 will impact trade directly By ARTHUR SIM [SINGAPORE] Changes to Central Provident Fund (CPF) schemes announced a year ago will take effect on July 1, but property consultants do not expect them to617 words
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Article, Illustration731 2006-06-14 4 SIOW LI SEN - By SIOW LI SEN [SINGAPORE] Singapore stocks seem not to respond positively to share buybacks, going by the decline in the prices of companies which have bought back their own shares, including Datacraft, Singapore Press Holdings (SPH), OCBC Bank and United Overseas BankSource: Bloomberg - 731 words
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787 2006-06-14 4 CLARENCE MICHAEL - By CLARENCE MICHAEL in Dubai SINGAPORE'S key role as an ideal price discovery centre for refined Middle East petroleum products will not be eclipsed in the near future even as the Dubai Gold and Commodities Exchange (DGCX) goes ahead with its plans787 words
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Page 2 Advertisements
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Advertisement82 2006-06-14 2 This Great Singapore Sale, a better body awaits. The Great Urban Homme Sale Up to yQ any body sculpting, face or spa treatment and 118.3crrP nsf' 1 J Q Satisfied Client of URBAN HOMME 111 O WCCKS (Parkway Parade) jRB and 153.8cmP Account Executive Q Satisfied Client of URBAN HOMME82 words
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Advertisement26 2006-06-14 2 Want the best deal? Invite tenders. Call 1800 289 8822 or email notices@sph.com.sg to book your tender notice in our newspapers now. MAT 3 NOTICES I26 words
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Advertisement14 2006-06-14 2 people Clients wanted. (Only excellent companies need apply) wwv. theptopleatwork.com Asia Pacific Executive Search14 words
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Advertisement112 2006-06-14 3 I The all new ***** with a V6,2.5-litre, dual VVT-i, D 4 direct fuel injection engine. THERE IS NO STATUS IN THE STATUS QUO. H H Ik. for effortless access Lexut if the beitselling luxury car In the U.S. lor 6 consecutive years. Sy«tem with 13 speakers Details specifications may112 words
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Advertisement16 2006-06-14 4 fjO i»jL GOOD GOVERNANCE AND E WEALTH OF NAT,OM i |£.A National University of Singapore I16 words
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Advertisement77 2006-06-14 4 KILLINEY APARTMENTS Freehold Site at Killiney Road Site area 40,348 sq ft approx) Th© Parannn Centrepoirit 9 Plot Ratio: 2.8; up to 10 storeys m ORCHARD RD K 7 N9 atv nn Close proximity to Orchard Shopping Belt Somerset SOMERSET RD 5 mins walk to Somerset MRT station Comcentre LLOYD77 words
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COMPANY NEWS
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Article, Illustration704 2006-06-14 5 WONG WEI KONG - HOCK LOCK SIEW By WONG WEI KONG CREATIVE Technology's' unfolding legal spat with Apple Company over portable music players raises questions over a company often held up as one of Singapore's best. Let's just say that if Creative ends up paying a high price inAFP FILE PHOTO - 704 words
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444 2006-06-14 5 UMA SHANKARI - Reit may expand its initial portfolio of five properties By UMA SHANKARI SINGAPORE'S much-antici-pated first hotel real estate investment trust (Reit) established by City Developments' 53 per centowned subsidiary Millennium Copthorne Hotels (M&C) intends to raise up to $382.5 million in its initial444 words
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250 2006-06-14 5 Reuters THE head of container liner Neptune Orient Lines will leave the firm by mutual agreement with the group's board, NOL said yesterday, but declined to say what prompted the surprise move one day after it was announced. State-controlled NOL had saidReuters - 250 words
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Article, Illustration588 2006-06-14 6 WINSTON CHAI - June 26 new cut-off date for conditional cash offer, terms unchanged By WINSTON CHAI MEDIARING Ltd has extended the deadline for its general offer for Nasdaqlisted Pacific Internet (PacNet) by another two weeks, the latest development in the ongoing takeover tussle between the two588 words
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446 2006-06-14 6 MICHELLE QUAH - By MICHELLE QUAH GLOBAL seafood supplier Pacific Andes and its unit, China Fishery Group, yesterday asked for trading in their shares to be halted, for what analysts speculate could be an announcement on a new acquisition in South America. Nothing had446 words
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280 2006-06-14 6 CAPITALAND'S hotels arm, Raffles Holdings, which is selling its share in the Raffles City complex and planning a voluntary delisting, will return to shareholders up to 70 cents per share in cash in the fourth quarter of280 words
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187 2006-06-14 6 XPRESS Holdings yesterday announced that it has agreed to buy the remaining 40 per cent of Precise Media Group (PMG) not owned by it for $27.5 million. The purchase, when completed, will allow Xpress to have full control of PMG, whose core business187 words
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275 2006-06-14 6 CHEN HUIFEN - Airocean finds no evidence to support ex-CEO 's allegations By CHEN HUIFEN BELEAGUERED logistics company Airocean Group yesterday announced that its special committee has found "insufficient and no concrete evidence" to support any of the allegations about certain directors' failure to act in the best interests of the company. The275 words
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361 2006-06-14 6 KRITI SINGH - By KRITI SINGH A FALL in sales of consumer electronics products led to a 13.6 per cent year-on-year drop in Beyonics Technology's net profit to $6.15 million for its third quarter ended April 30,2006. Revenue for the quarter slipped 5.3 per cent to $245.74361 words
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473 2006-06-14 6 ANGELA TAN - It hits out at manipulation of grant dates By ANGELA TAN THE Securities Investors Association of Singapore (SIAS) yesterday sought more transparency from companies granting stock options and hit out at questionable practices such as backdating options. Backdating involves manipulating the grant date473 words
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363 2006-06-14 7 CHEN HUIFEN - Proceeds to be used to pay off all liabilities before reverse takeover By CHEN HUIFEN now the subject of a reverse takeover by Chasen Logistics Services. In March this year, the group had announced that it is buying Chasen for $36 million. The363 words
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309 2006-06-14 7 Bloomberg A JOINT venture by Lippo Group and Usaha Tegas Sdn is seeking a $600 million loan to pay for a 55 per cent stake it bought in Overseas Union Enterprise Ltd, a banker involved in the deal said. TheBloomberg - 309 words
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475 2006-06-14 7 Reuters PINK Agritech, a soyabeanbased product maker in China, said it is likely to beat analysts' forecasts for its 2006 net profit as the firm ramps up production of two of its new health products. Singapore-listed Pine Agritech is expected to earn aboutReuters - 475 words
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170 2006-06-14 7 Reuters [NEW DELHI/MUMBAI] India's top mobile services firm, Bharti Airtel Ltd, has struck a services deal with Sweden's Ericsson for some 60 million telephone lines over the next three years, an industry source said yesterday. The deal is expected to be announcedReuters - 170 words
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Advertisement332 2006-06-14 5 i*'- V 3\^->^,'Vr i "y 1 'Mi\' ■■■i r ¥^%i- 5 **"?>£ A wJ&wßm it PI IlilSiE s- rlb %lf^fWff i -i 1 II 14 mgratM' 111—■§ Y P\ illfe IHMH I Vrf J 1 /< |gj*' V* ls< i j§>?-.J§p^ .-M V I-" 5 S®sl 3^H HHSPSpf .il VWHIbA'332 words
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Page 6 Advertisements
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Advertisement271 2006-06-14 6 I Join over 60,000 industry professionals I Asia's most exciting technology event! I CommunicAsia2ooG The 17th International Communications and Information Technology Exhibition Conference I Exhibition Summit I 20-22 June 2006,10.30 am to 6pm 20-22 June 2006 23 June 2006,10.30 am to spm Raffles City Convention Centre Singapore Expo Halls 3-6271 words
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Advertisement25 2006-06-14 7 Releasing your financial results? Call 1800 289 8822 or email notices@sph.com.sg to book your financial results in our newspapers now. A fmL AT*3 wAl>j NOTiCES25 words
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Advertisement107 2006-06-14 7 ftii f Is I B 111 I ISSev a» I 18 KSWfe > I SfiS M'l&fc' I Hp ■'*>♦*• I !"W k I si I vilify I# 1 I MP life Sm IS MONT CV BLANC rl I SOULMAKERS FOR 100 YEARS 11 tw mral' 11 |p S F ®5s107 words
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SINGAPORE MARKETS
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Article, Illustration884 2006-06-14 8 LARRY WEE - CURRENCIES Near-term, all eyes are peeled for the latest US CPI reading later tonight LARRY WEE Senior Correspondent ISK, like that other four-letter word, can really J|f leave a dreadful taste in the mouth, as financial market players have again discovtjk ered884 words
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Article, Illustration456 2006-06-14 8 Deemed Interest; IP: Investment Purposes; SA: Share Allotment; ST: Share Transfer; B/R: Bonus/Rights Issues; OE: Option Excersise; PL: Placement shares; IT: Internal Transfer Compiled by BT OTHER SINGAPORE INDICES Jun 13 VALUE CLOSE BT OB/OS -953.00 -262.00 BT CADI -*****.00 -217.00 BT 10-day MA -*****.00 -96.00 All-SG456 words
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Article267 2006-06-14 8 MATTHEW PHAN - Compiled by MATTHEW PHAN Venture Corporation June 13 dose: $10.20 MORGAN STANLEY, June 13 WE are raising our rating from "equal weight" to "overweight" with a $13 price target as we believe that the current price correction provides a good opportunity to own quality defensive technology names backed267 words
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Article, Illustration432 2006-06-14 8 R SIVANITHY - STOCKS R SIVANITHY Senior Correspondent SOMETIMES, it's Wall Street, other times it's Japan. Yesterday, it was about both an overnight slide in the US followed by an alarming 4.1 per cent collapse in Japan's Nikkei index sparked yet another wave of selling here that432 words
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Article, Illustration299 2006-06-14 8 YEO KEE YAN - CHART POINT By YEO KEE YAN chartist at Kelive Research CONCERNS about a slowdown in the US economy, interest rate fears and high energy prices continued to cap oversold bounces on the benchmark Straits Times Index (STI). A technical reboundSource: KElive - 299 words
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SINGAPORE NEWS
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Article, Illustration421 2006-06-14 9 KALPANA RASHIWALA - 24% q-o-q drop in line with 18% decline in total transactions By KALPANA RASHIWALA AFTER surging to a 10-year high in the fourth quarter of last year, the number of private homes bought by foreigners (including permanent residents) in Singapore declined 24Source: URA ReaK DTZ Research May 2006 - 421 words
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Article, Illustration287 2006-06-14 9 TWO redevelopment sites at Killiney Road are up for sale by public tender. Killiney Apartments is the larger of the two. Its site covers 40,348 square feet, with a plot ratio of 2.8 and a height restriction of 10 storeys. The site is287 words
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Article41 2006-06-14 9 UNIT TRUSTS FUNDS Legend: All prices are indicative: Broadly Diversified: I Narrowly Focused: Lower Risk:^ Low to Medium Risk: Medium to High Risk: Higher Risk open-ended: Before subdivision of units: After subdivision of unit: SP after stock split: N.A.-Non Dealing Day41 words
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Article, Illustration450 2006-06-14 10 CHEN HUIFEN - But as many jobs may be created as well, says NTUC dy chief Lim Swee Say By CHEN HUIFEN SEVEN thousand to ten thousand Singapore jobs are likely to go this year but at least as many new jobs are expected to be created,450 words
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Article, Illustration524 2006-06-14 10 MATTHEW PHAN - Panel also calls for less reliance on sex to attract viewers By MATTHEW PHAN LANGUAGE standards on Chinese television in Singapore have deteriorated since the merger of Singapore's two Chinese language channels in 2005, a committee set up by the Media Development AuthorityFILE PHOTO - 524 words
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339 2006-06-14 10 WEE LI-EN - By WEE LI-EN SINGAPORE company Oakwell Engineering will seek enforcement of a judgment against Canadian-based EnerNorth Industries for about US$4.2 million after winning a protracted dispute in the Canadian courts. Oakwell is an engineering corporation while EnerNorth is engaged in shipbuilding, engineering, construction339 words
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SINGAPORE ROUNDUP
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Article56 2006-06-14 10 THE Singapore government has pledged US$5O,OOO to the UN Flash Appeal for Timor-Leste, which was launched on June 12, according to the Ministry of Foreign Affairs yesterday. The pledge is a recognition of the importance of international support and assistance in response to the crisis in Timor-Leste,56 words
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48 2006-06-14 10 HOMEGROWN biotech firm Rockeby Biomed yesterday said its rapid test kit for HIV has been approved for use in Singapore by the Ministry of Health. OraQuick allows testing of HIV using oral fluids, instead of blood. Results may be obtained within 20 minutes.48 words
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Advertisement34 2006-06-14 9 p You can now use your CPF savings to invest in AllianzGI Global Allianz p i lil "If High Payout Fund. Visit our appointed distributors tor more details. Global nv f tors ■'fc.f 134 words
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Advertisement1021 2006-06-14 10 LORENZO LORENZO INTERNATIONAL LIMITED (Incorporated in Singapore) (Company Registration No. *****8277 C) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the First Annual General Meeting of the Company will be held at Orchid Country Club, Jade 2 3 Function Room, 1 Orchid Club Road, Singapore *****2 on Friday,1,021 words
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Advertisement27 2006-06-14 10 Llanhe Zaobao Capital I reduction! I i a growing I I trend I I I among I I I listed I I i companies I I I27 words
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Advertisement70 2006-06-14 10 (*****® Over 500 Locations Worldwide II Ask us about Corporate, Individual or Group Instruction. I I Calßerfitz t0day6733 a 7472 or visit wwwJ3ertitz.com.sg I SOI Orchard Road W&C3/04Wheebck Place Shgapore23BBBo tuffIMNVtfATCR Fantasy Waterbeds allow the spine to relax in its most natural curve, alleviating pressure and permitting normal blood flow70 words
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S'PORE ARTS FESTIVAL
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Article, Illustration507 2006-06-14 11 BRYNA SIM - COMPAGNIE MARIE CHOUINARD By BRYNA SIM MARIE Chouinard wants to live to a ripe old age of 120. "I will work overtime until I'm 100 years old, then I'll take a long holiday between 100 and 120 years of age," she declares.507 words
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Article, Illustration479 2006-06-14 11 NOOR AISHA - GHANA SANGAM By NOOR AISHA BEAUTIFUL, vibrant and melodious notes filled the Jubilee Hall at Raffles Hotel last Sunday evening as traditional Indian and Chinese music met with a subtle twist of pop-rock. The performance featured skilful flautist and music composer Ghanavenothan Retnam, who led the Indian479 words
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Article, Illustration723 2006-06-14 11 PARVATHI NAYAR - PLAY ON EARTH By PARVATHI NAYAR ONE of the most experimental works in this year's arts fest is Play On Earth, a theatre collaboration between Britain's Station House Opera and NewcastleGateshead Initiative, Singapore's Theatre Works and Brazil's Philarmonia Brasileira. The "play" is constructed from three simultaneous, live video723 words
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358 2006-06-14 11 SIM PING KHUAN - JERUSALEM DREAMING By SIM PING KHUAN WHILE millions in the US subscribe to the great American Dream, Israeli singer-composer Victoria Hanna hopes to preach the "Jerusalem Dream" which will appeal not to the pragmatic but to the idealistic through her singing, music358 words
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Page 11 Advertisements
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Advertisement89 2006-06-14 11 Fly our new Business Premier with a partner to New Zealand on Air New Zealand and enjoy 85% savings HPT on the companion fare. That's right Both you and your companion can stretch out luxurious lie-flat beds m I m ~~~t \i k 39,000 feet above ground or dine face-to-face89 words
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ECONOMY WATCH
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Article, Illustration640 2006-06-14 12 Large US current account deficit a sign of global imbalance Bloomberg [CANBERRA] The global economy faces increasing "downside risks" including rising oil prices, falling stock markets and trade imbalances, said Rodrigo de Rato, managing director of the International Monetary Fund (IMF). The IMF inBloomberg; FILE PHOTO - 640 words
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363 2006-06-14 12 AP [WASHINGTON] A sweeping regulatory plan to improve risk management for the country's largest and most internationally active banks is important to making sure the US financial system remains sound, Federal Reserve chairman Ben Bernanke said on Monday. Years inAP - 363 words
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679 2006-06-14 12 High oil prices main factor behind growth: IMF AFP [KUWAIT CITY] The oil-rich Gulf monarchies, which boasted strong growth in the past three years thanks to record oil prices, are forecast to show another year of robust growth in 2006, despite aAFP - 679 words
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Article, Illustration676 2006-06-14 12 Reuters [WASHINGTON] For the better part of two years, Federal Reserve officials said they were lifting US interest rates simply to get them to a "neutral level" appropriate for an economy in a self-sustaining expansion. Recent tough talk on inflation from the Bernanke FedReuters - 676 words
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Page 12 Advertisements
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Advertisement188 2006-06-14 12 The Stage is Set... m ft Nominate Someone who ri'.iles, onne< Is or elebrales m >» A- 1 I i fl i| I Uu* I t They create opportunities and plattorms tor spoiling activities. They connect with the community through sports. They celebrate the triumph of the human spirit through188 words
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WORLD CUP 2006
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Article, Illustration636 2006-06-14 13 CONRAD RAJ - By CONRAD RAJ PERENNIAL underachievers Spain had to go through a play-off with Slovakia to get to Germany but they should be able to reach the second round despite tough competition from Ukraine whom they play tonight. Spain has not gone beyond the WorldAFP - 636 words
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Article, Illustration528 2006-06-14 13 Reuters [BERLIN] Poland face the cruel threat of being knocked out of the World Cup by the best two Polish-born strikers in the tournament when they face Germany in their Group A match in Dortmund on Wednesday (Thursday morning, Singapore time). Miroslav Klose, whoReuters; REUTERS - 528 words
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Page 13 Advertisements
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Advertisement710 2006-06-14 13 Organised by The Business Times and Philips, it brings together 32 executives who have teamed up to help raise funds for Food from the Heart. Each executive has been assigned a team. And for every match the team plays, the executive will donate $1,000. H"Both teams will be cautious in710 words
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MALAYSIA/INDONESIA
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Article, Illustration509 2006-06-14 14 PAULINE NG - Independent producers may be asked to hold back or scrap new plans By PAULINE NG in Kuala Lumpur MALAYSIA might ask two independent power producers (IPPs) to scrap their construction plans and another two to put their generation plans on holdAFP - 509 words
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207 2006-06-14 14 Bloomberg [HONG KONG] Pipelines and refineries in Indonesia South-east Asia's biggest oil producer may be targeted by terrorists because of the presence of US interests, says a Singapore-based academic. Asia's terrorism is largely centered around Indonesia, said Rohan Gunaratna, head of the International CentreBloomberg - 207 words
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460 2006-06-14 14 [KUALA LUMPUR] Utama Banking Group (ÜBG) is mulling over the possibility of cutting or selling its entire stake in Rashid Hussain Bhd (RHB), the parent of Malaysia's fourth largest lender RHB Bank. Malaysia's Business Times (MBT) quoted sources as saying. A460 words
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398 2006-06-14 14 AP [KUALA LUMPUR] The Malaysian government yesterday vowed to safeguard its sovereignty in negotiating a free trade pact with the US, rejecting concerns of social activists that the deal would only benefit Washington. "We are not going to give up ourAP - 398 words
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BRIEFLY ASIA
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49 2006-06-14 14 Reuters [NEW DELHI] Political activists stopped trains and buses across India yesterday and truckers kept off the roads to protest against a rise in retail prices of petrol and diesel and to pressure the government to roll back the price increases. —ReutersReuters - 49 words
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36 2006-06-14 14 AP [TAIPEI] Taiwan's Bureau of Investigation yesterday said it would track down officials suspected of leaking details about an ongoing corruption probe focusing on President Chen Shui-bian's family. —APAP - 36 words
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53 2006-06-14 14 Bloomberg [HONG KONG] Henderson Land Development Co, Hong Kong's third-largest builder, said its board is yet to decide the fate of the planned initial public offering of the Sunlight Real Estate Investment Trust. The IPO.is not expected to take place before July 15,Bloomberg - 53 words
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70 2006-06-14 14 [SHANGHAI] Shanghai's stock exchange plans to this year loosen limits on the daily share-price movements of the largest companies, including China Merchants Bank Co, to boost trading. The exchange wants a 20 per cent daily limit for shares in the Shanghai Stock Exchange 5070 words
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36 2006-06-14 14 Bloomberg Reuters [JAKARTA] Indonesia plans to use Japanese coal liquefaction technology to produce fuel such as gasoline in an effort to develop alternatives to oil, the government said yesterday. ReutersBloomberg; Reuters - 36 words
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Page 14 Advertisements
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Advertisement504 2006-06-14 14 NOTICES BIJV IT- StLL IT FIND IT IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF FIRST SEARCH PTE. LTD. (IN MEMBERS' VOLUNTARY LIQUIDATION) (formerly known as KAPIENT (S) PTE LTD) (Company No. *****5573G) FINAL MEETING NOTICE IS HEREBY GIVEN, pursuant to Section 308 of504 words
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GREATER CHINA
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Article, Illustration407 2006-06-14 15 A govt official says new high due to nation's growing trade surplus Reuters [BEIJING] China's foreign exchange reserves, the world's largest, have risen above US$9OO billion as a result of the nation's growing trade surplus, a senior government official said on Monday. The official,Reuters; AFP - 407 words
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280 2006-06-14 15 AP Reuters [SHANGHAI] China's largest lender, the Industrial and Commercial Bank of China (ICBC) Ltd, plans to apply next week for an initial public offering (IPO) in Hong Kong in September, a state-run newspaper reported yesterday. Beijing-based ICBC's IPOAP; Reuters - 280 words
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Article318 2006-06-14 15 Each firm allowed holdings in only one such entity [HONG KONG] Regulators plan to limit mainland firms' stakes in mutual fund managers to one each, says a report in the South China Morning Post, citing sources. Under existing rules, firms are permitted to own318 words
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Article, Illustration513 2006-06-14 15 NEWS ANALYSIS Reuters [SHANGHAI] China's efforts to defuse what experts have called the country's "pension time bomb" have created .a multibilliondollar opportunity for domestic and international fund managers. The greatest promise may lie with a nascent, voluntary corporate pension scheme, known as enterprise annuities, whichReuters; AFP - 513 words
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Advertisement2197 2006-06-14 15 PARKWAY HOLDINGS LIMITED (Company Registration No. *****0320R) (Incorporated in the Republic of Singapore) Registered Office:1 Grange Road #11-01 Orchard Building Singapore *****3 14 June 2006 NOTICE OF EXTRAORDINARY GENERAL MEETING OF HOLDERS OF THE 5575 1 000,000 3.10 PER CENT. NOTES DUE 2009 Explanatory Note 1. Reference is made to2,197 words
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INDIA
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Article, Illustration588 2006-06-14 16 Shares had become expensive relative to profit expectations Bloomberg [MUMBAI] India's Finance Minister Palaniappan Chidambaram said the 29 per cent decline in the country's benchmark stock index since May 10 was "overdue" because shares had become expensive relative'to profit expectations. Indian markets had another freefallBloomberg - 588 words
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542 2006-06-14 16 Reuters, Bloomberg [LONDON] Mittal Steel expects core earnings to rise by 70 per cent, or US$4.l billion, over the next three years, it said yesterday as it published a business plan intended to secure a takeover of rival Arcelor. The world'sReuters,; Bloomberg - 542 words
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299 2006-06-14 16 Bloomberg [SINGAPOBE] Bharat Petroleum Corp, India's thirdbiggest state-run refiner, may invest in oil and gas blocks in South-east Asia as it expands its production assets, chairman Ashok Sinha said yesterday. Bharat may spend as much as US$l billion on exploring andBloomberg - 299 words
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Advertisement33 2006-06-14 16 THE BUSINESS Times 2 bottles of red/white wine of your choice I «s M Wine Cooler Bag complete with accessories Call 6388 3838 now to subscribe Delivery charges apply The Business Times Newsweek33 words
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Advertisement290 2006-06-14 16 o TR networks TR NETWORKS LIMITED Company Registration Number *****5793 D (Incorporated in the Republic of Singapore) NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting ("EGM") of TR Networks Limited ("the Company") will be held at 50 MacPherson Road #09-01 Singapore *****1 on 29 June 2006 at 10:00 a.m.290 words
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WORLD
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680 2006-06-14 17 LATEST US DATA Retail sales edged up just 0.1%, reflecting weak car sales AP, Bloomberg [WASHINGTON! Inflation at the wholesale level slowed in May after two big months of increases, even though petrol prices and inflation pressures outside of energy and foodAP,; Bloomberg - 680 words
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Article, Illustration489 2006-06-14 17 But it has no plans to increase overall value of its bid Reuters [FRANKFURT] Deutsche Boerse may raise the cash component of its offer for Furonext but has no plans to increase the overall value of its bid, a source closeReuters; AFP FILE PHOTO - 489 words
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193 2006-06-14 17 Bloomberg IPARIS] Paris got more foreign direct investment (FDI) than any other European capital in 2005, overtaking London for the first time, a study said. The French capital and Ile-de-France, its surrounding region, took in 23 per cent of all foreign investmentBloomberg - 193 words
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206 2006-06-14 17 Bloomberg [NEW YORK] Billionaire investor George Soros said the rout in commodities prices likely will continue. "Commodities probably are in for a period of correction," he told CNBC. "We are in a situation where all asset classes are under pressure because of aBloomberg - 206 words
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314 2006-06-14 17 Bloomberg [LONDON] Chancellor of the Exchequer Gordon Brown, seeking to build London's position as a global financial capital, pledged to make it possible for banks to increase sales of Islamic financial services in the United Kingdom. The Treasury is working on aBloomberg - 314 words
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Advertisement2229 2006-06-14 17 PARKWAY HOLDINGS LIMITED (Company Registration No. *****0320R) (Incorporated in the Republic of Singapore) Registered Office:1 Grange Road #11-01 Orchard Building Singapore *****3 14 June 2006 NOTICE OF EXTRAORDINARY GENERAL MEETING OF HOLDERS OF THE 5575,000,000 2.45 PER CENT. NOTES DUE 2007 Explanatory Note 1. Reference is made to the 5575,000,0002,229 words
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AVIATION
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Article, Illustration770 2006-06-14 18 CLARENCE MICHAEL - UAE projects alone total US$20b, plus projects in India, Pakistan, Sri Lanka By CLARENCE MICHAEL in Dubai AIRPORT development and expansion projects worth more than US$4O billion are currently under way across the Middle East, Africa and the Indian subcontinent, outREUTERS - 770 words
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229 2006-06-14 18 Bloomberg [DUBAI] Airbus SAS.the world's largest aircraft maker, may delay for a second time delivery of the A3BO, said Emirates airline, the largest customer for the 555-seat plane. Airbus may push back delivering the world's largest passenger plane by a month to May,Bloomberg - 229 words
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324 2006-06-14 18 AP [KUALA LUMPUR] Moneylosing Malaysia Airlines will raise fuel surcharge for flights to the Americas, Europe and South Africa by 20 per cent from tomorrow. In an advisory issued last week to travel agents, the flag carrier said the surchargeAP - 324 words
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274 2006-06-14 18 lata says curbs on foreign investors may stifle growth Bloomberg [LONDON] India will need US$9O billion in investment in its aviation industry by 2030 to meet demand for flights as the country's economy expands and disposable income rises, an industry group said.Bloomberg - 274 words
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131 2006-06-14 18 AP [SINGAPORE] Singapore's low-cost carrier Tiger Airways announced yesterday that it will increase the number of flights to China and Thailand starting next month. Tiger will add three flights per week between Singapore and Haikou on China's Hainan island, raising the frequencyAP - 131 words
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Article400 2006-06-14 18 AIRLINE CODES: AA: American Airlines (AAL), AF: Air France (AFR), AI: Air India (AK), AY: Finnair Oy (FIN), AZ: Alitalia Airlines (AZA), BA: British Airways Public Ltd Co (BAW), BG: Biman Bangladesh Airlines (BBC), BI: Royal Brunei Airlines Sdn Bhd (RBA), BO: Bouraq Airlines (BOU), BR:400 words
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Page 18 Miscellaneous
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Miscellaneous169 2006-06-14 18 CRYPTIC CROSSWORD 1 a™ sion charges? (4-3-3 YESTERDAY'S SOLUTION 2 Workers'home (6) A comprehensive case 7 (9) Across: 1 Most, 3 Waterproof, 8 3 Cricketer needing more insur- Organising Sues opal wed- Spiral, 9 Pillager, 10 Hiccup, 11 ante (5 5) ding (8) Earth-nut, 12 Apple-pie, 14 Debt, 4 Lots169 words
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SHIPPING
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401 2006-06-14 19 [SINGAPORE] PSA International handled 31 per cent more containers worldwide in the first five months of the year because of expanding trade. The container terminal operator handled 20.2 million 20-foot containers (TEUs) in the January-May period. It handled 9.43 million containers at its401 words
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269 2006-06-14 19 Bloomberg [SINGAPORE] China Ocean Shipping (Group) Co (Cosco), Hanjin Shipping Co and two other container lines agreed to expand the routes on which they cooperate to broaden the number of destinations they can offer customers. The CKYH alliance, which includesBloomberg - 269 words
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446 2006-06-14 19 [SINGAPORE] An alliance of European maritime unions has urged that the European Commission needs to do much more to safeguard European Union (EU) seafaring skills and experience. The Nautilus Federation, the Anglo-Dutch alliance of the Numast and FWZ maritime unions, claims that446 words
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458 2006-06-14 19 DONALD URQUHART - Rights of contract workers in offshore oil and gas industry undermined By DONALD URQUHART [SINGAPORE] Global labour unions vowed to step up the fight against the use of contract workers in the offshore oil and gas industry, saying the practice exploits workers from developing458 words
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Article, Illustration346 2006-06-14 19 Facility to take off in 2011, with 2.2m 20-ft box capacity Bloomberg [DUBAI] DP World, the world's third-biggest container port operator, signed an agreement to develop a US$5OO million terminal at the north-eastern Chinese harbour of Tianjin. DP World will jointly buildBloomberg; FILE PHOTO - 346 words
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452 2006-06-14 19 Reuters [SINGAPORE] Freight rates for aframax tankers plying in and around Singapore have risen more than 65 per cent since last month, as lightering and cross-har-bour operations increase, industry sources said yesterday. Rates for double-hulled aframax tankers typically 80,000-125,000 tonnes each and employedReuters - 452 words
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150 2006-06-14 19 Bloomberg [HONG KONG] The management of Pacific Basin Shipping Ltd, a dry bulk carrier of products including cement and grains, has met with bankers to discuss the possibility of selling the company, the South China Morning Post reported, citingBloomberg - 150 words
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Article280 2006-06-14 19 SCX '000 jmhh s$ w- vol CH Offshore .0.34 unch 79 Oman Hup 031 unch 1009 Cosco Corporation 1.19 -0.05 4509 CWT Distribution 1.19 -0.01 85 Ezra Hldgs 2.14 -0.14 270 Freight Links 0.06 unch 920 Grand Banks Yacht 0.88 unch 25 Java Holdings -.128 0.01 184 K1280 words
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Page 19 Advertisements
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Advertisement42 2006-06-14 19 Myanma Five Star Line,Yangon is pleased to announce the appointment of: BSA TRANSPORTATION PTE LTD 10 Anson Road, #12-01 International Plaza Singapore *****3 Tel: 6227 3318 Fax: 6227 3039 as their Container Feeder Service Agent with effect from 1 st July 200642 words
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EDITORIAL & OPINION
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Article503 2006-06-14 20 EDITORIAL THE idea that "less-is-more" is an important concept in certain forms of art, where minimalism is held up as a virtue. There are those who believe that regulating markets is something of an art form as well and may also wish for a "less-is-more"503 words
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Article, Illustration1108 2006-06-14 20 HOON HIAN TECK, HO KONGWENG - Republic needs to become a technological innovator to ensure economic dynamism By HOON HIAN TECK, HO KONGWENG THE Chicago economist, Nobel laureate Robert Lucas, while researching on questions about economic growth, famously said. "The consequences for human welfare involved in questions like these are simplyAFP; Source: Singapore Department of Statistics and Robert Barro and Xavier Sala i-Martin (2004), Economic Growth - 1,108 words
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Article, Illustration763 2006-06-14 20 FRANK CHING - THE BOTTOM LINE FRANK CHING SINCE late paramount leader Deng Xiaoping began the process of reform and opening up almost 28 years ago, China has repeatedly had internal debates, often heated, as to whether changes had gone too far. A recent well-publicised article763 words
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Article, Illustration1208 2006-06-14 21 TAN SHONGYE, PETER VIKSNINS - The marvels of technology can be used to conduct forensic searches of computerised media and analyse search results By TAN SHONGYE, PETER VIKSNINS IN TODAY'S electronic environment, many high-profile cases have been solved through forensic searches of computerised media and experienced electronic discovery professionals are nowAP - 1,208 words
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271 2006-06-14 21 Leong Sze Hian - LETTER TO THE EDITOR Leong Sze Hian I REFER to media reports that all wards will be upgraded, but the PAP ones will be given preference. My mother-in-law passed away on June 9 of a heart attack, shortly after a visit271 words
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Page 21 Advertisements
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Advertisement225 2006-06-14 21 Choose one Item from our favourttwa^^oneohotoe^^^^g^f bbb v Kg Daddy Dearest 17 18 June 2006 Be sure to treat dad to the ultimate gourmet indulgence with Summer House's Tunch Buffet (12 noon to 4pm); featuring mouthwatering steaks, luscious glazed ham and more for $39.00* per adult and J20.00* per child.225 words
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Article1860 2006-06-14 22 52-Wk Tel Last Vol Day Last Quote GrOtv Dtv GrYW Net MCap Hgh. Low Code Company Sale +V- f'000) Hi fit) Low Buyer Se4er C" w P/E Smil 64 34 7804 Landwind 1c 40 -4 4488 42.5 39 39.5 40 84 116 20 6 1173 LankomUSIOc 6 -11,860 words
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Page 22 Advertisements
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Advertisement35 2006-06-14 22 Trad© from 20% deposit (5 x leverage) on mo«t stocks Go long or short Competitive financing rates in aH markets Access to Asian, US, Euro stocks Select Exchange Traded Funds and Indices Competitive Commission charges35 words
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Article3465 2006-06-14 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In S$ In US$ dy yr dy yr dy %yr Jun 12 Index Change Change Change Change Change Change World Index Preliminary 957.9 -0.3 -1.2 -0.5 -2.6 -0.5 1.6 t EAFE Preliminary 950.5 -0.5 -23 -0.8 -1.1 -0.8 3.1 Europe3,465 words
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Page 24 Advertisements
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Advertisement1893 2006-06-14 24 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination GO PRIDE RDM/ATW/BMN/TLB/NAN STXPOTBN CAM/NFK/SAV/NOL YOU YA VCW/LAX/MZL Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE F.E./S.E.A. SERVICE Destination ASEAN PREMIER DBI/ABU/DOH/BRN/DMM/KWT Destination BEL ANNA DBI/ABU/DOH/BRN/DMM/KWT STXPOTBN INC/BSN Loads Singapore, E./W. Malaysia, Indonesia Loads E. Malaysia, Indonesia OTHER SERVICES Tramping1,893 words
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Advertisement776 2006-06-14 24 INTIRASIA tOtO IitVKR vtssa/voT uwrom hbghtw m kch to 5 jct STVAITS VENTURE 10/06 IS 3.2 08/04 11/06 1 5/06 11/06 20/06 STHAITS VEKTIItE 11/06 15 3.2 22/06 25/06 29/06 02/07 04/07 STRAITS VENTUREI2/06 15 3.2 06/07 09/07 13/07 16/07 11/07 1 AUSTRALIAN *Q*Q SIRVICI 1 vßsa/vor Sjjgj hbghhwi 1a776 words
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Page 25 Advertisements
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Advertisement1366 2006-06-14 25 WAN HAI MTERNAHONAL PTE LTD at NO: iwsraooo/1 %> TEL *****588 (HUMS) FAX:*****163 VMXWAN HAI LINES ssssssssssssssu. 1L- JOHIH: |D 7) 251 WOW: 107)251W21M 1*1031) *****75 WUt|OJl|im7M/J»l»5 JtTHL |M1)*****U FAX: 1021)*****nP1M UL7IUM/71UII FA*7lU7* BIH:)OH)4IS7n3HULPH)4ISW2S/414?909 reu sn «g on «g m mi ttotokbwmco m_ WW UN 213 1115 I 23/06 JS/M1,366 words
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Advertisement1098 2006-06-14 25 \JT\ EASTERN CAR LINER, LTD V 1 1 SPECIALIZEIH ROUP A HEAVY UfT lIPTO 450 TONS IMTIA-UU SttVW VOT Ra* UHfaf SIN I PGU PKKN) PKKW) PNN JKT LO MUA SUI UPG I ITU NOZOMI j SO mi 1 18/06 H/06 24/06 LILAC ACE 40 30 2S/06 26/06 21/0* ~0i75T1,098 words
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Advertisement812 2006-06-14 25 m SiGlfA WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN ANO WESTERN ICQ POINTS VKSa VOT SIM PJUAMG COtOMIO It SNEVA COUMHO INDIIA &AMDHI 0104W 13 JUN I4JUH 18 JUN 21JUH 2UUH MFMmHh-H-H--—a—W— iiowpfrwiu |yiwm7|iijul mm itm im am FOR MARIVU ALSO ACCEPTMG TUTKORIN t MUNDRA ALSO ACCOTNG FQ812 words
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Page 26 Advertisements
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Advertisement942 2006-06-14 26 1 I m ~J U:65-*****907Fax:*****917 Nordana (Asia) Pie Ltd 70 Slwilob Way, *21-03 Marino Hwh ingapore *****8 NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS DATES ARE ARRIVAL DATES I VESSEL VOT Simmon Frwwtfa Cotoslilwd CWistwot IsJowi I Shoaooro Parir Gtdww kiond Einress lE6OS Ulun 2ZJUB 30n942 words
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Advertisement492 2006-06-14 26 fo* RUb— !&os— asa =sp==^==lr= laiiwi m» IBM I »>n i |_wia!i!!__|_iia__l_w«_|__ua>_ —Tffil r wm 11| i E Mvi) affile Ifj lEtt 11L mr |;iik[iig^ii|Bj^^| jgra jg|«||s| n||_fi|—| VESSEL VOY SM POST KUN6 OMTTAGONG )*»t« tm++<ru) bi(Mi V«y «W Mf pac makassar -jajj- "mToT TrToT ~u/5T "TrTot" mis" 100*" 10oT492 words
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Advertisement184 2006-06-14 26 IifIMWIHI 2rsr^6| ■PSMMnGOtSKY 396* 1718/06 23 25/06 31-01/07 ■MUiMflTlGa ISLAND 397N 20-21/06 27-29/06 04 05/07 39SN 24-25/06 30 02/07 OM9/07 I ■■■■■nGaUY 399* 27 28/06 04 06/07 11 12/07 BBBBTWBSKY 400W 01-02/07 07-09/07 15-16/071 ■mMMM|x(tES LHOTSt 642 22-23/06 2 8 30/06 07-08/07 ■USUliflMAiaMVaißt 019 25-26/06 03 05/07 .13-14/07 I i—TOaCIJff184 words
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Advertisement486 2006-06-14 26 CONVENTIONAL SERVICE HALDIA/CALUTTA 14 JUNE COLOMBO 15 JUNE CHENNAI/CHTG 03 JULY BOMBAY/DUBAI 05 JULY II sma H7O) I OWNS A OPERATES THE YOUNGEST FLEET I WITH FOURTEEN 7,000 DWT TWEEN DECKERS I COVERING THE ENTIRE ASIA PACIFIC PORTS I B REGULAR WEEKLY SERVKCS: IKAOHSIUNO A CHINESE PORTS, HONG KONG TO*486 words
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THE BUSINESS TIMES SHIPPING TIMES
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executive Money
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Article, Illustration750 2006-06-14 28 GENEVIEVE CUA - More needs to be done to address the erratic growth of Singapore's financial advisory market, GENEVIEVE CUA reports GENEVIEVE CUA SOARING asset markets in 2005 and early 2006 boosted the assets of the fledgling financial advisory (FA) market but the sector's development remains "very erratic". UnlessSource: Cerulli Associates - 750 words
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474 2006-06-14 28 GENEVIEVE CUA - By GENEVIEVE CUA NAVIGATOR is set to enter the funds' direct sales market, with the establishment of a B2C funds portal, says Cerulli in its latest 2005 survey of financial advisers. If so, this will be a welcome addition to the474 words
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Article, Illustration629 2006-06-14 29 GENEVIEVE CUA - But with uncertainty still roiling markets, SG Asset Management's new hedge funds hope to 'avoid accidents'. GENEVIEVE CUA finds out more GENEVIEVE CUA LOBAL equity, bond and emerging markets are likely to stay in uncertain territory over the short term, but the long629 words
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Article, Illustration817 2006-06-14 29 MICHAEL PREISS - If a DBS-StanChart deal is in the works, then shareholders have plenty to look forward to MONEY MATTERS MICHAEL PREISS THE meltdown in the world's stock exchanges has created extraordinary buying opportunities across the Asia-Pacific region stock markets. Standard Chartered Bank has been one817 words
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742 2006-06-14 29 CHET CURRIER - By CHET CURRIER Bloomberg NOTHING chills congenial feelings between a money manager and his investors faster than a cold streak. Years of admiration and satisfaction can fade in an amazingly short time when the manager's performance falters even if the reason isBloomberg - 742 words
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Article433 2006-06-14 29 Chua Boon Lee - By Chua Boon Lee Standard Poor's Associate, Fund Services Global financial markets have collectively fallen under the downward spell of the US stockmarket since May 2006. After stringing together several consecutive monthly rises this year, the S&P 500 index of the largest listed companies in433 words
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Page 28 Advertisements
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Advertisement137 2006-06-14 28 At ÜBS, Wealth Management is not simply built on a relationship with your money. It is constructed around a deep relationship with you. A partnership designed to craft a portfolio as individual as your needs and as important as your aspirations. Meeting those aspirations means harnessing the most advanced products137 words
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Advertisement14 2006-06-14 28 THE WORST IS BEHIND US' So says a senior hedge fund manager pg 2914 words
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Page 29 Advertisements
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Advertisement213 2006-06-14 29 Japanese Candlestick Charting CANDLE POWER Did you profit from the recent stock market downturn? If not, come to SEE FEEL how you can MAKE MORE PROFITS by determining precise Entry/Exit points using the power of Japanese Candlestick Charting. Applicable for stocks, currencies, commodities, options, futures and warrants at ALL levels213 words
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MOTORING
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Article, Illustration759 2006-06-14 30 SAMUEL EE - Now available only at parallel importers, it will be launched by Borneo Motors in end-Sept or Oct By SAMUEL EE THE arrival of the brand new Toyota Camry caused an upset in the midsized Japanese segment last month. But things have since759 words
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339 2006-06-14 30 SAMUEL EE - By SAMUEL EE AFTER dormant bank accounts and lottery prizes, the e-mail scam seems to have moved on to cars. And in a sophisticated twist, a second e-mail follows the first to request delivery details. In the latest twist to the by-now familiar339 words
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Page 30 Advertisements
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Advertisement31 2006-06-14 30 »ji>i ~iwr j*|M|HlHb. aOk >Ji^ H .miW JHrKIVHiV #i^ irl L\\J 45 Leng Kee Road> sin 9 a p° re *****3 Tei: 6378 *****6378 2626 < 6378 JAGUAR XK ■LpJf AWw«OM*n BPP^31 words
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