The Business Times, 20 September 2006

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Total Pages: 32
1 32 The Business Times
  • 23 1 THE BUSINESS TIMES ■Vth ANNIVERSARY 3D SINGAPORE 85 cents online at http://business-times.asial.com.sg A SINGAPORE PRESS HOLDINGS PUBUCATION MICA (P) 099/03/2006 Wednesday, September 20,2006
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  • 683 1  -  Nations must reach understanding on the issues By CHUANG PECK MING [SINGAPORE] Mounting imbalances among the major economies are threatening international financial stability, Prime Minister Lee Hsien Loong warned yesterday, saying that financial stability is essential for a stable and open global environment.
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  • 705 1 Caretaker Prime Minister in New York at UN meeting; unconfirmed reports of counter-coup By OUR CORRESPONDENT in Bangkok THAI army tanks rolled into the capital yesterday in an apparent coup against caretaker Prime Minister Thaksin Shinawatra's government. "We have seized the city of
    REUTERS  -  705 words
  • Page 1 Advertisements
    • 43 1 MOTORING |a3Klie^^^ t Swift orders for Suzuki Sport pace 19 SUMMIT WATCH IMF's first big surveillance battle: Renminbi PAGE 3 QUOTA REVAMP Concerns remain despite IMF revamp PAGE 4 AT LEISURE Savouring local delights PAGES ASIAN CHALLENGE IMF role under threat PAGE 6
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    • 16 1 COMMENTARY Does Citiraya have a viable future? PAGE 8 81Ui I! II Markets Digest, Page 2
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    • 127 1 S STAFF GROOMING India's techies learn the soft skills PAGE 17 EXEC MONEY Tapping unsecured credit the smart way PAGE 30 1 flfi" .^.l—l——l—^l— invenit el Fecit invented and made The motto of a contemporary- watchmaker boilding his own history. u *»i* '^H^B jHHHK I wf Jiggf fiHMffIBBKBfP WKKmm '_jBBBjP'.
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  • TOP STORIES
    • 404 2 PM Lee calls for urgent restart of global trade talks GLOBAL trade talks must be restarted urgently for the world to avoid an upsurge in protectionism, killing off economic growth.' 'A rising tide of protectionism will leave us worse off. It has happened before; it can happen again,"
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    • 686 2  -  Wall Street heavyweight ups the ante in investing as a principal By LESLIE YEE [SINGAPORE] As part of a global initiative, Wall Street giant Morgan Stanley wants to invest more of its own funds in Asia, be it in infrastructure,
      YEN MENG JIIN  -  686 words
    • 57 2 IN "Hong Leong Garden Condo enters en bloc market" (BT, Sept 8), we mentioned that the condominium was being tendered out for a minimum of $138 million, or $324 psf of potential gross floor area. The marketing agent, Ivy Lee Realty, has since clarified that the price does not
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    • 430 2  -  By SIOW LI SEN FORMER Indonesian president Bacharuddin Jusuf Habibie yesterday recalled the first time he called Singapore a "red dot", saying that it was to hold up the country as a positive example to young Indonesians. In
      AFP  -  430 words
    • 129 2 STI 2,538.24 (-13.78) ST INDEX FUTURES 2,538.00 (-14.00) SIMSCI 302.59 (-1.95) SIMSCI FUTURES 302.00 (-2.90) MARKETS Tuesday Change KISECOMP 962.82 -2.73 NIKKEI 225 15,874.28 +7.35 HANG SENG 17.346.70 -40.51 SET INDEX 702.56 -333 JAKARTA COMP 1,485.35 +11.09 MANILA COMP 2,563.66 +61.86 SEOUL COMP 1,373.95 SHENZHEN B 304.36 -10.02
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  • Page 2 Advertisements
    • 226 2 people No mountain high enough. www.thepeopleatwork.com Asia-Pacific Executive Search The advent of the Integrated Resorts in 2009 is slated to revolutionalise and integrate independent sectors spanning across industries like never before; Spa and Wellness, Hospitality, Airlines, Medical, Leisure, Beauty, Health. Extensive research has been done on how the industries will
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  • SINGAPORE 2006
    • 755 3  -  SUMMIT WATCH VIKRAM KHANNA Associate Editor THE IMF is changing its business model from lending to surveillance, and already we can see the contours of the first big battle shaping up. It relates to exchange rates. In the blue corner is the United States.
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    • 654 3  -  Leaders call for Doha Round to be put back on track By CHUANG PECK MING GLOBAL trade talks must be restarted urgently for the world to avoid an upsurge in protectionism killing off economic growth, Singapore, together with the
      YEN MENG JIIN  -  654 words
    • 2114 4  -  Some developing countries fear continued underrepresentation By WONG WEI KONG THE concerns some developing countries have over reforms to the International Monetary Fund's (IMF) quota system have not gone away, despite the approval by a large majority at the annual meeting in Singapore for
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    • 460 4  -  It'll focus on education and helping women By SIOW LI SEN THE Islamic Development Bank (IDB) is overhauling itself to meet the daunting development challenges facing the Islamic world, where some of the world's poorest countries are among its members. The
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    • 573 5  -  AT LEISURE CONRAD RAJ Senior Correspondent WITH most of the main work and meetings out of the way, delegates to the meetings of governors of the World Bank and International Monetary Fund were in a more relaxed mood to enjoy the Singapore government's welcome reception hosted by
      ARTHUR LEE  -  573 words
    • 384 5  -  By CONRAD TAN LOBBYISTS yesterday called on the World Bank (WB) and International Monetary Fund (IMF) to "go back to basics" and focus on lending for development in poor countries. Representatives of Social Watch, a network of more than 400 non-govern-mental
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    • IN BRIEF
      • 96 5 NYT A COMMITTEE of finance ministers that endorsed in principle a plan by World Bank president Paul Wolfowitz to crack down on corruption in the bank's lending on Monday did so, not unreservedly. The ministers added a proviso that the bank's board of executive directors, a separate
        NYT  -  96 words
      • 61 5 Bloomberg RUSSIAN Finance Minister Alexei Kudrin said the government spends too much of the revenue from oil and gas, undermining its own efforts to curb inflation and spurring gains in the rouble that are hurting manufacturers. Annual inflation will be about 9 per cent
        Bloomberg  -  61 words
      • 79 5 Bloomberg AUSTRALIA'S economy will continue its 15-year expansion and inflation will moderate, Treasurer Peter Costello said. "The prospect for the Australian economy is as good in the year to come as it has been in the past," Mr Costello said in an interview. The consumer
        Bloomberg  -  79 words
      • 30 5 AFP HAITI has qualified for an IMF-World Bank programme that could lead to the cancellation of its US$l billion external debt, IMF said. —AFP
        AFP  -  30 words
    • 467 6 AFP INTERNATIONAL Monetary Fund (IMF) managing director Rodrigo de Rato will need all his negotiating skills to secure backing for the next phase of the most ambitious reform at the fund since its creation in the aftermath of World War 11. In
      AFP; REUTERS  -  467 words
    • 756 6 Region still keen on the Chiang Mai Initiative despite voting reforms Bloomberg THE International Monetary Fund's (IMF) decision to give China and South Korea more clout may not be enough to reverse a loss of its influence in Asia. Asian
      Bloomberg  -  756 words
    • 639 6 Upbraids reporter after being labelled as hostile to reform Reuters AS befits a leading central banker, Zhou Xiaochuan is usually calm and unflappable. He also smiles a lot. So it was striking when the governor of the People's Bank of China publicly upbraided a reporter
      Reuters; BLOOMBERG  -  639 words
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    • 403 4 Organised by: Ailaa Strategy Leadership laatMate DeAa*JTi>Crt*w*Aßa*TS*kty WrMgfIHHHP Co-sponsors Qcimb islamic Zaidlbrahim&co T ISLAMIC BANKING SUMMIT 2006 "Responding to the Challenges of Globalisation" SPECIAL ADDRESS: Issues and Relevance of Islamic Finance in Singapore |[j<EY ROLE PLAYERS Islamic Banking in Singapore: New Perspectives, New Dato* Dr Nik Norzrul Thani, Partner, Zaid
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  • COMPANY NEWS
    • 419 8  -  It will build the hull of the largest drill ship ever, expects to take 16 months By WONG WEI KONG COSCO Corp (Singapore) yesterday announced a new US$l2O million ship contract, the first of its kind for the shipyard and shipping group which is
      FILE PHOTO  -  419 words
    • 174 8 LABROY Marine Ltd yesterday said its subsidiary, Labroy Shipbuilding and Engineering Pte Ltd, has clinched four shipbuilding contracts worth US$6O.4 million (Ss96 million), boosting the group's order book to a record 551.35 bil•tol* <*r m mm Tile contracts an furwtlr Tapnwhiiction of four wmtvS
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    • 482 8  -  Spread to 10-year govt bond yields at 170 basis points By LESLIE YEE SINGAPORE'S real estate investment trusts (Reits) are at a sweet spot, with the yield spread to 10-year government bond yields being 170 basis points, which is the highest among major Reit
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    • 955 8  -  HOCK LOCK SIEW By MICHELLE QUAH CITIRAYA Industries' prospects got distinctly brighter this week when its white knight, well-known investor and tycoon Oei Hong Leong, pledged that he would sink in as much money as it would take to get Citiraya back on its
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    • 693 10  -  Dubai branch can help clients tap opportunities in Asian markets: GM By CLARENCE MICHAEL in Dubai DBS Bank can offer Middle Eastern clients access to Asian business networks and provide financial expertise to link them with opportunities in other rapidly growing markets in Asia,
      693 words
    • 375 10  -  By ARTHUR SIM ASCOTT Residence Trust (ART), which was listed in March this year, has raised gross proceeds of $48.4 million from a placement of 44 million new units at $1.10 each. The earlier indicative issue price was $1.08 to $1.16 per
      FILE PHOTO  -  375 words
    • 387 10  -  By JEAN CHUA CONTROLLING shareholders of explosives maker Fabchem China have ceased talks on a potential stake deal with an unnamed party. This came about three months after it said they were in discussions with two parties, which was later narrowed
      387 words
    • 414 11  -  But investors should be selective of Chinese water plays: analysts By WONG WEI KONG SHARES of water specialist Hyflux rose yesterday on news that it has received World Bank (WB) funding for its China projects, but analysts say investors should be highly
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    • 191 11 SYNEAR Food Holdings is the latest diamond bull sponsor, pledging $100,000 to The Bull Run 2006. Now in its third year, the Bull Run is a charity fun run in the Central Business District to raise funds for children and youths in need.
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    • 307 11  -  By MATTHEW PHAN PENTON International, whose share trading on Sesdaq is still suspended, is withdrawing from an investment it had made in an Indonesian coal mine last year. It said yesterday that its decision took into consideration "the amount of funds required"
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    • 166 11 Bloomberg SHARES of Neptune Orient Lines Ltd fell 2.5 per cent after the operator of Asia's fourth-largest container line posted six straight months of decline in average container revenue. The shares dropped five cents to $1.99. The stock has fallen 19 per cent this
      Bloomberg  -  166 words
    • COMPANY BRIEFS
      • 67 11 VANTAGE Corp yesterday said its wholly owned subsidiary Vantage Gaming Solutions Pte Ltd has entered into a term sheet with Hong Kong digital entertainment firm Mobitech Holdings. The term sheet allows Vantage Gaming to conduct due diligence checks on Mobitech. Following satisfactory due
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      • 44 11 CNA Group has been awarded a US$6.5 million project to design and build a customised airport special system for the VIP Terminal at the New Doha International Airport in Qatar. The contract was jointly secured with Takenaka Corp.
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      • 67 11 FRASERS Centrepoint Trust yesterday announced that its special purpose vehicle Star Topaz has set upasl billion multi-currency secured medium-term note programme. This will allow Star Topaz to issue fixed, floating or fixed and floating notes from time to time, to be arranged by OCBC Bank
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      • 41 11 LIAN Beng Group yesterday announced that it has acquired Smooth Venture Pte Ltd for $1,000 in cash. Lian Beng said it intends to hold its investment in coal mine-related activities in Indonesia under the new subsidiary.
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      • 58 11 LOCAL market players interested in participating in the Sept 22 listing of China Merchants Bank in Hong Kong can do so via 14 new structured warrants to be issued here. Six issuers Calyon, Citigroup, Deutsche, JP Morgan, Macquarie and Rabobank will offer 12 call
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      • 38 11 NATSTEEL Ltd's subsidiary Eastern Pretech has subscribed for a further 8,865 shares in Dubai Precast for about 8.87 million dirhams (Ss3.B million). Its equity interest in the associate remains at 45 per cent.
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      • 45 11 PAN Hong Property Group's 125 million initial public offering shares at 35 cents have been subscribed about two times. Investors include Singapore Warehouse Company, which subscribed for 21.5 million placement shares (17.2 per cent of the total invitation shares).
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    • 23 8 raspHf LISTEN OUT FOR FINANCIAL RESULTS ANNOUNCEMENT Find out more about a company's financial performance through CATS Notices in The Straits Times. I
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  • SINGAPORE MARKETS
    • 913 12  -  CURRENCIES Key topside barriers loom at 118.50-70 yen and 1.2650-70 Swiss francs LARRY WEE Senior Correspondent THE US dollar has made a determined effort to fight back higher over the past fortnight, but it was starting to show some signs of battle fatigue
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    • 973 12 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Sep 19 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Stodt Date Director Sell '000 Shr C000) COOP) Serial Sys 18-Sep-06 Goh Bak Heng Buy 32 0.16 *****9 37.60 *****1 37.61 Popular Hldgs 18-Sep-06 World
      973 words
    • Article, Illustration
      716 12  -  Compiled by MATTHEW PHAN Ascendat Rett Sept 19 dose: $2.16 1 CmGROUP RESEARCH. S«pt 18 ASCBNDAS Reit is developing its third property in search of higher yields a partial build-to-suit building for $28.6 million. Located at Changi Business Park, the building will have a gross floor area of
      Source: Bloomberg  -  716 words
    • 534 12  -  STOCKS R SIVANITHY Senior Correspondent MONDAY'S late push on the Straits Times Index failed to find a followthrough yesterday as regional weakness took its toll, cutting 13.78 points off the index at 2,538.24. Not surprisingly, banks and property stocks which had propped up the index
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  • BUSINESS EXCELLENCE
    • 1051 13  -  DANIEL BUENAS looks at how Pioneer Electronics aims to become an 'innovative organisation' with a people focus DANIEL BUENAS WHILE the concept of business excellence may be relatively esoteric to some, Pioneer Electronics AsiaCentre (PAC) deputy managing director Seak Poh Leong sums up its
      YEN MENG JIIN; Source: Pioneer Electronics Asia Centre Pte Ltd Organisation Development Division  -  1,051 words
    • 1047 13  -  By DANIEL BUENAS HOMEGROWN logistics and supply chain management firm YCH Group has a customer list that any company would be proud of it counts global PC giant Dell Computer, Motorola and Canon as just some of its clients. But while management skill,
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  • SINGAPORE NEWS
    • 451 14  -  FOCUS ON FOREIGNERS Move in line with Singapore strategy of attracting foreign talent By JEAN CHUA FOREIGNERS can now borrow up to 90 per cent of a property's value from Maybank, up from 70 per cent previously. The Malaysian bank said yesterday that
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    • 301 14 SEVEN students from China, India, Indonesia and Vietnam have been awarded full scholarships worth over $400,000 in total to study at the Lee Kuan Yew School of Public Policy. The scholarships are sponsored by Capita Land Group, OCBC Bank and Standard Chartered
      301 words
    • 362 14  -  By ARTHUR SIM SINGAPORE has become the destination of choice for Indian travellers, knocking the United States off the top spot. According to MasterCard Worldwide's MasterIndex of Consumer Lifestyles Survey for the first half of this year, 28 per cent of
      362 words
    • 387 14  -  By LESLIE YEE "l CAN'T remember a time in Asia when things jjp progressing so welh With the economies in Japan, China, South-east Asia and India growing, to paraphrase half of Charles Dickens. it is the best of times," says Alasdair Morrison,
      YEN MENG JIIN  -  387 words
    • 295 14  -  By MICHELLE QUAH THE Association of Chartered Certified Accountants (ACCA) is offering a new online resource service to its members, targetted specifically at those from the financial services sector. ACCA yesterday introduced "ACCA Career Pathways Asia Pacific", developed in close collaboration with the UK Securities
      295 words
    • SINGAPORE ROUNDUP
      • 67 14 SM f Israeli minister discuss economic ties ISRAEL'S Minister of Finance Avraham Hirschson called on Senior Minister Goh Chok Tong at the Istana yesterday. According to Mr Goh's press secretary, Mr Hirschson updated SM Goh on the state of the Israeli economy following the war in Lebanon. Both leaders discussed
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      • 48 14 SINGAPORE and Kazakhstan have signed an agreement to avoid double taxation and prevent evasion of taxes on income. The accord was signed in Singapore by Tharman Shanmugaratnam, Minister for Education and Second Minister for Finance, and Natalia Korzhova, the Finance Minister of Kazakhstan.
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      • 63 14 BILCARE Singapore, a subsidiary of Indian pharmaceuticals company Bilcare Ltd, has acquired DHP Ltd. a UK-based clinical trials services provider. Bilcare Singapore acquired 100 per cent of the paid-up equity of DHP for US$5 million through its fully owned UK subsidiary Bilcare (UK) Ltd. DHP
        63 words
  • Page 14 Advertisements
    • 1157 14 :*at3 NOTICES BUY IT SELL IT FIND IT SEE HUP SENG LIMITED (Company Registration No. *****2208Z) (Incorporated in the Republic of Singapore) NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Company will be held at 81 Tuas South Street 5 Singapore *****1 on 6 October 2006 at
      1,157 words

  • MALAYSIA
    • 667 15  -  Enforcement tightened with more prosecutions and IPO rejections By PAULINE NG in Kuala Lumpur MALAYSIAN public listed entities and their advisers are treading more carefully these days as the Securities Commission (SC) has demonstrated a greater willingness to flex its muscles. Enforcement has tightened
      667 words
    • 513 15 Iris, Mobif, Kosmo drop 16-27% in heavy volume Bloomberg [KUALA LUMPUR] Shares of Iris Corp, Mobif Bhd and Kosmo Technology Industrial Bhd tumbled amid a probe by US and Malaysian regulators into Aeneas Capital Management LP, which was among the largest
      Bloomberg  -  513 words
    • 274 15 Reuters [KUALA LUMPUR] Former Malaysian central banker Azman Hashim made a second attempt to buy out financial group AmcorpGroup Bhd yesterday, signalling another potential consolidation in the domestic banking sector. AmcorpGroup controls AMMB Holdings, Malaysia's fifthbiggest bank in terms of assets, with a 33 per
      Reuters  -  274 words
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  • GREATER CHINA
    • 619 16 Yuan rises on expectations he'll press for faster reform AFP [HANGZHOU] China's yuan hit its highest value since revaluation against the dollar yesterday as US Treasury Secretary Henry Paulson arrived here on his first official visit to China amid expectations that he would
      AFP; REUTERS  -  619 words
    • BRIEFLY ASIA
      • 61 16 Bloomberg [SEOUL] Korea Asset Management Corp, a state-run agency set up to liquidate bad debt in South Korea, plans to buy some of China's US$l6l billion of non-performing loans. Korea Asset will form an investment group with South Korean professional investors and seek a
        Bloomberg  -  61 words
      • 73 16 Bloomberg [MUMBAI] Goldman Sachs Group Inc, which ended a 10-year alliance with Indian billionaire Uday Kotak in March, plans to bring US$l billion in investment capital to India over two years. Goldman said it will build its own business in India after breaking up with
        Bloomberg  -  73 words
      • 76 16 Reuters [JAKARTA] Indonesian state-run mining firm PT Aneka Tambang Tbk (Antam) yesterday said it planned to restart its third ferro-nickel smelter, FeNi 3, on Oct 10 after a three-month shutdown for •repairs. Antam shut the smelter in early July to repair a leak
        Reuters  -  76 words
      • 47 16 Bloomberg [NEW DELHI] United Breweries Ltd, which owns India's biggest beer brand, Kingfisher, plans to spend four billion rupees (S$ 138 million) over the next three years to expand capacity, chairman Vijay Mallya told shareholders at an annual meeting yesterday. The shares surged.
        Bloomberg  -  47 words
    • 409 16 Reuters [SHANGHAI/BEIJING] Associates First Capital, a unit of Citigroup Inc, has joined a consortium bidding for a stake in China's Guangdong Development Bank after Carlyle Group decided to leave the consortium, three banking sources said on Monday. Associates First Capital plans to
      Reuters  -  409 words
    • 316 16 46.1% say economy will continue to overheat in Q4 Bloomberg [SHANGHAI] Chinese bankers' confidence in the economy fell to the lowest level in more than two years, reflecting doubts that government efforts to cool expansion in lending and investment are working, the
      Bloomberg  -  316 words
    • 210 16 AFP [HONG KONG] The territory's political leader Donald Tsang defended his economic policy yesterday following criticism that he had stepped away from the lais-sez-faire stance many believe has made the city rich. In an open letter to the South China Morning Post newspaper, Mr Tsang
      AFP  -  210 words
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  • INDIA
    • 396 17 But govt realises fiscal retrenchment essential to boost economic growth Bloomberg, Reuters [SINGAPORE] Ratings agency Standard and Poors (S&P) yesterday labelled India a "laggard" in keeping its fiscal deficit of 7 per cent or more under control. "It's easy to zero in
      Bloomberg,; Reuters  -  396 words
    • 638 17  -  Corporations spend 10b rupees a year on grooming staff By PRIYANKA BHARDWAJ in New Delhi THE Indian information technology (IT) industry has realised that in times of stiff competition, a software professional without soft skills has no place. Today, an Indian IT
      REUTERS  -  638 words
    • 5015 17 UNIT TRUSTS FUNDS AB Amer Income BT USD 8.61/ ■Ih'IIBI.dH AB Amer Income A USD... 8.57/ AB Amer Income B USD 8.57/ ABN Amro Asset Mgt (S pore) AB Amef Income A EUR 6.74/ Star Europe Eqty! 0.958/ aB Amer Income B EUR 6.7*1 Star Europe Bond 1.84 AB Europ
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  • ASIA-PACIFIC/WORLD
    • 592 18 Amaranth Advisors' bets on natural gas go sour in recent downturn NYT [NEW YORK] Enormous losses at one of the nation's largest hedge funds resurrected worries on Monday that major bets by these secretive, unregulated investment partnerships could create widespread financial disruptions. The
      NYT  -  592 words
    • 2320 18 vol General Corp 0.58 -0.02 17 HM W-. COOP) Genting .24.00 -0.50 1441 George Kent .0.50 -0.01 53 AS M Realty 1.41 unch 2 GHLSystems .0.23 -0.01 1755 A b f c 032 24 Globetronics Tech .0.31 undi 258 ACP Industries 0.95 -0.01 562 Glomac Bhd 102 -002
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    • 632 18 Bloomberg [NEW YORK] Millionaires are multiplying in the world's fastestgrowing economies, leading to a potential boon for banks that manage money for the wealthy, according to a report by the Boston Consulting Group. Assets held by the rich in Brazil, Russia, India and China are
      Bloomberg; REUTERS  -  632 words
    • 343 18 Reuters [LONDON] Europe has vaulted over Asia to become the most popular target for foreign direct investment (FDI), an annual survey showed on Monday. The survey, conducted by IBM Corp, found that European nations attracted some 39 per cent of global FDI
      Reuters  -  343 words
    • 359 18 August wholesale prices increase slightly by 0.1 US DATA AP, Bloomberg [WASHINGTON] Prices at the wholesale level edged up modestly in August, providing further evidence that inflation pressures are easing. The US Labor Department reported that wholesale prices edged up 0.1 per cent last month as petrol prices fell, helping
      AP,; Bloomberg  -  359 words
    • WORLD WATCH
      • 44 18 Reuters [LONDON] Ernst Young yesterday confirmed that US regulators have visited its headquarters here to carry out inspections required under the US Sarbanes-Oxley Act. It said the visit was part of a continuing dialogue with the regulators. —Reuters
        Reuters  -  44 words
      • 34 18 Bloomberg [BOSTON] Billionaire financier Carl Icahn is poised to gain control of one-third of the board of ImClone Systems Inc and push to replace the biotechnology company's management. —Bloomberg
        Bloomberg  -  34 words
      • 31 18 Reuters [TOKYO] Toshiba Corp yesterday said it would replace about 340,000 laptop computer batteries worldwide, the third recall of faulty batteries made by Sony Corp. —Reuters
        Reuters  -  31 words
      • 39 18 Bloomberg [LONDON] ING Real Estate, the world's biggest property fund management company, plans to raise 4.25 billion euros (SsB.s billion) from five new European funds, tapping demand from investors for higher returns.
        Bloomberg  -  39 words
      • 33 18 Bloomberg [NEW YORK] Motorola Inc has agreed to buy Symbol Technologies Inc for US$3.9 billion in cash to expand into the market for hand-held retail bar code scanners. —Bloomberg
        Bloomberg  -  33 words
      • 40 18 Bloomberg [LONDON] BP pic said its Thunder Horse production platform in the Gulf of Mexico won't start until at least the middle of 2008, more than two years behind schedule, because of repair delays.—
        Bloomberg  -  40 words

  • MOTORING
    • 552 19  -  By SAMUEL EE A SMALL, sporty Suzuki looks set to liven up the pocket rocket segment with the launch of the Swift Sport model 10 days ago. Like the Suzuki Swift GTI of the late 1980s and early *****, the new Swift Sport is a
      552 words
    • 617 19  -  The hand-held system 'pulls' raw data from the LTA servers and displays it graphically By SAMUEL EE A NOVEL hand-held traffic information system has been developed by a homegrown company to provide 24-hour on-the-road news for motorists. The first of its kind in
      JOHN HENG  -  617 words
  • Page 19 Advertisements
    • 126 19 IMII m I BUI protect your ctr nom w Thief takes off in S'porean's thieves wftoaremm car in JB equipped with master (SPH-T»>e Straits Times: 27th. March, 2006) keys, tOOtS tO break 8 cars stolen every hour in ,If!!!!!?. Malaysia (SPH-The Sunday Times: 25th. Sept, 2005) tOW tniCW, tMe POIICO
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    • 353 19 WAT-3 NOTICES UNITED INDUSTRIAL CORPORATION LIMITED (Co. Reg. No. *****0181E) (Incorporated in the Republic of Singapore) LOST CERTIFICATE Application has been made to the Directors of the abovenamed Company to issue duplicate certificate in place of the following certificate which has been reported lost or destroyed:No. Name No of Shares
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    • 8 19 The Business Times to subscribe can 6388 3838
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  • AVIATION
    • 603 20 World air cargo may grow 6.1 annually Freighter fleet will increase from 1.789 to 3.563 planes in 20 years: Boeing Bernama [CALGARY] Boeing Co said world air cargo growth is expected to expand at an average rate of 6.1 per cent annually during the next two decades, with a threefold
      Bernama; REUTERS  -  603 words
    • 225 20 [SINGAPORE] The UK's Business Traveller magazine has voted the airline group Star Alliance, the Best Airline Alliance at its annual travel awards held in London earlier this week. The 18-member airline group, which includes Singapore Airlines and Lufthansa, said the award is special as
      225 words
    • 311 20 Reuters [MOSCOW] The main private shareholder of Russian airline Aeroflot has signed an agreement to buy 22 Boeing 787 Dreamliners even though the airline itself has made no decision to buy them, a newspaper reported yesterday. Kommersant daily reported that the National Reserve
      Reuters  -  311 words
    • 880 20 Bloomberg [NEW DELHI] India's airlines, which will have a combined loss of US$25O million both this year and in 2007 as they cut fares due to rising competition, are looking at various ways to survive an expected shakeout in the
      Bloomberg  -  880 words
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  • Page 20 Miscellaneous
    • 133 20 CRYPTIC CROSSWORD f 13 WoU t and serious (6) (6) 14 f YESTERDAY'S SOLUTION 2 Arrangements to ensure four propose a short letter about Across: 7 Black spot, 8 Mabel, 10 are protected from creation main changes (8) Decadent, 11 Assist, 12 Hero, 13 3 Almost inclined to be quick
      133 words

  • SHIPPING
    • 611 21  -  Expansion important for global economy, says George Yeo By GEORGE JOSEPH [SINGAPORE] Foreign Affairs Minister George Yeo has expressed the Singapore government's support for a proposal to expand the Panama Canal, saying the canal is important for the whole global economy. "The Panama
      611 words
    • 900 21  -  STRAIT TALK By DAVID HUGHES THE scene is being set for a major debate within the shipowning community and at the International Maritime Organization (IMO) over minimum manning levels for commercial ships. The recent International Shipping Federation (ISF) Manning and Training Conference provided a
      900 words
    • 593 21 ANALYSIS Reuters THE United States is not expected to require ships calling at its ports to switch to a cleaner-burning, lower-sulphur marine fuel within the next few years due to a lack of demand by ship owners, industry sources and bunker suppliers say. This
      Reuters  -  593 words
    • 359 21 Reuters [SHANGHAI] China will encourage overseas investment in its shipbuilding industry, while capping combined foreign stakes in shipbuilding companies at 49 per cent, official media said on Monday. The government will also require foreign-invested firms to set up technology centres to absorb foreign expertise, the
      Reuters  -  359 words
    • 289 21 SGX '000 frpn ss w- w CH Offshore 4)39 unch 121 Chum Hup .0.32 -0.01 2103 Cosco Corporation 1.63 -0.01 3122 CWT Distribution 0.61 unch 15 EzraHldgs 3.T» -0.07 512 Freighter** .0.07 0.01 1203 Grand Banks Yacht 0.86 -0.01 20 Jaya Holdings 1.39 unch 765 Kf Venture 0.39
      289 words
  • Page 21 Advertisements
    • 120 21 SCORE CARD Keep your investors informed by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices^sph.comjsg. TUVALU SHIP REGISTRY _r QUALITY S-ERV-ICE QUALITY FLAG 1. Low taxes 5. Worldwide network of surveyors 2. Agreements with lACS members 6. No restriction on nationality of ownership on
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  • EDITORIAL & OPINION
    • 536 22 EDITORIAL THE International Monetary Fund (IMF) has finally decided to give a bigger say to four of its members whose quotas are far out of line with their economic standing in the world. The reform, which took place during the annual meetings of the IMF and
      536 words
    • 1469 22  -  He retires with an approval rate of 50 per cent, the highest of any post-war Japanese PM By NORIMITSU ONISHI NYT JUNICHIRO Koizumi swept to power in 2001 promising to "destroy" his ruling Liberal Democratic Party and, by extension, Japan's encrusted post-war order.
      NYT; AP  -  1,469 words
    • 725 22  -  THE BOTTOM LINE ANDY MUKHERJEE Bloomberg NOW that the Group of Seven (G-7) industrialised nations is nudging the Internationa] Monetary Fund to adopt a more activist agenda, fault lines have begun emerging within the global community. The G-7 may be pushing the
      Bloomberg  -  725 words
    • 2197 23 Excerpts of PM Lee Hsien Loong's speech at the opening ceremony of the IMF-World Bank Annual meetings yesterday THE world is changing faster than ever. The key driver of this change is globalisation. Countries are becoming more closely interlinked with one another, through the cross-bor-der movement of
      YEN MENG JIIN  -  2,197 words

  • Page 23 Advertisements
    • 53 23 COLLECTIVE SALE BY TENDER Land Area 266,076 sq ft 24,719 sq m Tenure 956 years Plot Ratio 1.6 GFA 425,721 sq ft/39,550.4 sq m Tender Closing Date: 6 October 2006 (Friday), 4pm Ivy L©© 111 North Bridge Road #11-06 Peninsula Plaza M-'%i k 1K M|l ft* I «VM ..T—», .|p::|
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    • 317 23 NOTICES LOST STOCK CERTIFICATES Notice is hereby given that the Mowing slock certificates have been reported lost THE STRAITS TRADING COMPANY LIMITED (Incorporated In Singapore) Names Certificate Nos Number o< Stock Unite Ong Hock Siang *****4 800 *****4 160 Estate of Ong Huat Ching, deceased *****2 600 Ong Huat Kee
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    • 99 23 I S WELCOME ALL DELEGATES FOR THE IMF AND 8 WB MEETINGS I I CD I We offer 1 30% a® 1 on all our stocks of Finest Oriental r Carpets with door to door shipping I service worldwide Free limo service wifl be provided for appointments (D "r- Contact
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    • 17 23 a A fc A. ■jH'f >■'#» Tuckshop with Marilyn Lee 10am 2pm IvHHffv Mon Fri Ht MIRp r
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  • 9988 24 SGX MAINBOARD Transaction date: Sep 19 S2-Mk Id last Vol Day L*t Quote Dtv GrVW Net MCap High Low Code Company Sala *b COOP High low Buyer Mhr Cvr P/I 5mll 4 1 5716 1st Software 2.5 2.5 3 10.1 11.5 6 3148 STelecom 6.5 -1 461 7.5
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  • Page 24 Advertisements
    • 35 24 Trade from 20% deposit (6 x leverage) on most stocks Go long or short Competitive financing rates in all markets Access to Asian, US, Euro stocks Select Exchange TVaded Funds and Indices Competitive Commission charges
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  • 6064 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In tool am la Si In OSS %dy yr %dy yr dy %yr itp 1> Index Ch«rvy< Ch«ng» Oi»ng« O1T19P Purge Chungs World Irdex Preliminary ***** 03 5.1 03 3.1 0? 8.0 i EAK ftamwiary 1022.0 11 50 OS 58 03 10.8 Eurece
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  • Page 26 Advertisements
    • 984 26 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination MARITIME PEACE RDM/ATW/BMN/TLB/NAN HANJIN PENANG LAX/VCW/MZL STX PO TBN CAM/NFK/NOL/SAV loads Singapore, E./W. Malaysia, Indonesia E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE F.EJS.E.A. SERVICE Destination ASEAN PREMIER DBI/ABU/DOH/BRN/DMM/KWT Destination BEL ANNA DBI/ABU/DOH/BRN/DMM/KWT STX PO TBN INC/BSN ADDU STAR JDH/AQA Loads Singapore, E./W. Malaysia, Indonesia Loads
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    • 633 26 |»1 PONGNAMA LINE COHTtWHKIMD MHVIC* VESSEL (EVERY SAT) VOY SGP I HRG (WTTBWNAL) KMTC JAKARTA 61 IE 23/09 27/09 YMMUMRAII 16E 30/09| 04/10 VESSEL (EVERY SUN) VOY fsGP HRG ROTA HADUH HU243 24/09 20/09 ROTAHARMUM HW3O7 01/10 1 05/10 VESSa (EVERY SUN) VOY SGP HRG (MI) TRY YOK KORE MOl
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  • Page 27 Advertisements
    • 1571 27 WAN HAI INTERNATIONAL PIE LTD CD NO: **********0/R VtrA iifiu mu-ii TIL *****588 (14 UNES) FAX: *****163 V\\M 1 WAN HAI I INFn CustomerSwvta/Booktag*[*Kt (1800)*****200 Y V Tlnll lIMI LIIILJ FKL1H:|03)*****888FAX:(03)*****281F811E:(04)22(3400NUk(04R2V6W9 V JOH m (07) *****23 FAX: (07)2511*21 BIW 32*5475 FAX: (031) 32*2714/ *****05 www wanhni tarn to JKTIB: (021)
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    • 856 27 9S2S& WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS VKSa VOY SIX HUANG COLOMBO N. SHtVA COLOMBO KOTAPtuwm YPMLiIiiE OH ZiifP im SL2O INDIRA GANDHI 0107W 26 SEP 27 SEP 30 SEP 03 OCT 07 00 LAI BAHADUR 0106E 26 SEP 30 SEP KAJIV 6AMOHI
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  • Page 28 Advertisements
    • 868 28 SNordona (Asia) Pte Ltd 70 ShMton Way, #21-03 Marina Houss Singapon *****8 NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS DATES ARE ARRIVAL DATES WSSft VOY Swqopwe Frewwtfe Cacos Itkwd CkisfHH IsWI Posir fodow wnl bprfii M A I llifiß 16 Sm I ■vcul Express [E428 X
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    • 493 28 CONVENTIONAL SERVICE ETA SIN LOADING FOR 26 SEP CHENNAI 30 SEP DUBAI, DAMMAM 03 OCT CHENNAI, BOMBAY 05 OCT MALE, COLOMBO life GLORY NAVIGATION GROUPI I( sma 19/0 OWNS OPERATES THE YOUNGEST FLEET WITH FOURTEEN 7,000 DWT TWEEN DECKERS I COVERING THE ENTIRE ASIA PACIFIC PORTS a REGULAR WEEKLY SERVICES:
      493 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 6990 29 This ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Dest'n Name Name Number Number SIN Dest'n Name Name Number Number 24/11 12/12 Austral AL CAPt CONWAY 03F6 *****333 To ABIDJAN (ABJ) 2003 Cote D'lvoire 25/11 05/12 Nordana ISLAND EXPRESS
      6,990 words

  • executive Money
    • 1216 30  -  GENEVIEVE CUA sifts through banks' latest offerings in unsecured lending as the market faces more liberalisation GENEVIEVE CUA RECENT news that the rules on unsecured lending are set to be relaxed has sparked debate on whether this could make it easier for some borrowers to
      1,216 words
    • 1761 31  -  MONEY MATTERS As Asian mutual funds ex-Japan cross the psychologically important US$500 billion mark in assets under management, questions need to be asked if enough is being done to prepare for the next phase of growth By SHIV TANEJA THE good thing about
      1,761 words
    • 731 32  -  AIG's American Home Assurance chief Rudi Spaan tells GENEVIEVE CUA where he sees opportunities in insurance GENEVIEVE CUA TRAVEL and personal accident insurance may sound like a mundane and low-margin business, but American Home Assurance Company president Rudi Spaan sees it as a growth area.
      FILE PHOTO  -  731 words
    • 332 32  -  By Chua Boon Lee Standard Poor's Associate, Fund Services This week, S&P Fund Services looks at real estate Acooitßng to Jones Lang LaSaNe's ialest world reai estate capital report, global drect real estate iroestmertt in the first half of 2006 rose to a
      332 words
  • Page 30 Advertisements
    • 146 30 b 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
      146 words
    • 36 30 INSURANCE Homing in on growth areas pg 32 IS AVAILABLE TO ACCOUNTANTS FINANCIAL ADVISERS WITH A CLIENT-BASE OF SOPHISTICATED INVESTORS LOOKING FOR VALUE AND TRANSPARENCY. FOR INFORMATION Contact Paul McDonald +61 3 9659 9409 or paulmcdonaldewealth-insurance.com
      36 words

  • Page 31 Advertisements
    • 601 31 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF MATRIX MEMBRANES PTE. LTD (Registration No: *****3455G) (In Creditors' Voluntary Liquidation) TAKE NOTICE that a meeting of the creditors In the above-named company will, In pursuance of Section 296 of the above Act, be held
      601 words
    • 153 31 Term insurance protects the financial well-being of your loved ones. NTUC Income offers the most competitive rates for Term insurance. Our premiums are the lowest. Our i-Term covers you for death (from accident or illness) total permanent disability terminal illness From as low as $9 a month, you get a
      153 words
    • 170 31 The Region's Premier Showcase for j Components, Assemblies, Electronic* Production and Display TechnokHJlSi^si^ Over 32,000 trade visitors from 128 countries Bp|*v gathered the 2005 fair to fulfil tti|^sin«*r#>terests *V Now, with over 500 exhibitors globe, the s. 2006 fair is ail set to be another blockbuster event this ""'MjPjjj,, year,
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  • Page 32 Advertisements
    • 140 32 More than 250 years of uninterrupted history ■v JH it*,' i-/JiKii VMS r Jm\. !fe% I r j»> t*~**2j£jji -m* s& «v\gjf/ jli «£o a fjJw HI <^^H ->K.?? nt </ y/y AH HM^Bl^^lHßßßSwHßHßnS^^^HHi^^HH^l^^^^^^B^Vf? 7 u, V Os/ I^lH 1 7'"~- kA v'M// iv v./#» L v\/ ./flf/f Ifli B
      140 words