The Business Times, 10 October 2006

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Total Pages: 30
1 30 The Business Times
  • 22 1 THE BUSINESS TIMES M IB SINGAPORE 85 cents online at http://business-times.asial.com.sg A SINGAPORE PRESS HOLDINGS PUBLICATION MKA (P) 099/03/2006 Tuesday, October 10,2006
    22 words
  • 557 1  -  Fee waivers, curbs on short-selling under study By R SIVANITHY [SINGAPORE] The Singapore Exchange (SGX) is studying the feasibility of deterring short-selling of structured warrants via anew penalty system and will also waive the listing fees for warrants on new underlying assets and
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  • 132 1 STI 2,621.51 (-27.79) ST INDEX FUTURES 2,624.00 (-29.00) SIMSCI 314.61 (-3.30) SIMSCI FUTURES ***** (-5.00) MARKETS Monday Change KLCOMP 969.38 -1.60 NIKKEI 225 Closed HANG SENG 17,679.24 -228.15 SET INDEX 692.26; -2.34 JAKARTA COMP 1,543.42 -6-21 MANILA COMP 2.551.92 -8.30 SEOUL COMP 1,319.40 -32.60 SHENZHEN B 327.97 +4.61
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  • 542 1  -  Taking a big hit are Japanese yen and Korean won in currency markets By LARRY WEE, R SIVANITHY [SINGAPORE] North Korea's nuclear bomb test gave regional stock markets a jolt yesterday. But the impact was muted because the Japanese and Taiwanese markets were closed
    Source: Reuters; REUTERS  -  542 words
  • Page 1 Advertisements
    • 12 1 NOBEL PRIZE American Edmund Phelps wins economics prize HHB PAGE 19 8
      12 words
    • 32 1 PROPERTY Seutosa condo MORE REPORTS Political risks up a notch for businesses in region PAGE 2 Swift condenuiation from around the world PAGE 3 Scientists' dilemma: Success, Mure or bluff? PAGE 3
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    • 120 1 clinic-on-wheels i'? :y NHC Nouvelle Horiogerie Calabrese itefe. vj «Wp M B "A taste of a Beauty-Fuel life" r Vincent Calabrese, Watchmaker Beauty-fuel Combines a 2nd Time Zone with Date and Day features, capable of differentiating AM and PM. A 44-hours Power Reserve is designed to look like a car
      120 words

  • TOP STORIES
    • 595 2 Market awaits concrete measures to put economy on an even keel By OUR CORRESPONDENT in Bangkok THAILAND'S interim Prime Minister, Surayud Chulanont, named his Cabinet yesterday. The new line-up, however, failed to impress the market, which is waiting for more concrete measures on
      595 words
    • 492 2 N Korean test draws world condemnation North Korea announced yesterday it had detonated an atomic weapon in an underground test, drawing swift condemnation from around the world. Even Pyonyang's ally, China, said that it strongly opposed the move, which could seriously destabilise the region. TOP STORIES, PAGE 3
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    • 610 2 KOREAN BLAST But barring military conflict, economic impact seen limited AP [SHANGHAI] North Korea's claim that it conducted a nuclear test yesterday raised political risks a notch higher for businesses in the region. But the biggest threat may be to North
      AP; BLOOMBERG  -  610 words
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  • KOREAN BLAST
    • 845 3 Pyongyang may be preparing for more tests, South Korean spy chief warns AP. Reuters. AFP. Bloomberg [SEOUL] North Korea announced yesterday it had detonated an underground atomic weapon in a test that drew swift condemnation from around the world. The announcement prompted worldwide concern
      AP. Reuters.; AFP. Bloomberg; Reuters Graphics  -  845 words
    • 645 3 Scam involving conventional explosives not ruled out AFP [PARIS] Scientists adopted a dour wait-and-see attitude after North Korea claimed to have successfully conducted a nuclear test yesterday. Only careful analysis of data returned by seismic or atmospheric sensors will say whether
      AFP  -  645 words
    • 116 3 [SINGAPORE] Singapore expressed deep concern yesterday at the announcement by North Korea that it had conducted a nuclear test "We are seeking confirmation from other international sources. If confirmed, such a rash and dangerously provocative act will have grave consequences that could threaten to destabilise
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  • Page 3 Advertisements
    • 49 3 The acquisition of ABN AMRO's Futures and Options business positions ÜBS as a leading Futures and Options provider, as by client segregated assets.* www.ubs.com/futuresandoptions 4® ÜBS *Based on filing with Commodity Futures Trading Commission, 31 March 2006 and Futures Options Week, 22 May 2006. ÜBS 2006. All rights reserved.
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  • COMPANY NEWS
    • 464 4  -  Group will pocket gains of $79m from the sale By LESLIE YEE AGAINST the backdrop of a buoyant office property market in Singapore, UOL Group yesterday announced that a wholly owned subsidiary is selling Central Plaza at 298 Tiong Bahru Road for $175 million.
      ARTHUR LEE  -  464 words
    • 531 4  -  HOCK LOCK SIEW By TEH HOOI LING FINALLY, an index on China stocks has been launched. And about time, too. Currently, there are more than 100 Chinese companies listed on the Singapore Exchange (SGX), or about one in six listed companies. And according
      531 words
    • 470 4  -  By TEH HOOI LING EZRA Holdings yesterday announced it has secured a four-year agreement from an oil major to charter its floating production, storage pnd off-loading facility (FPSO) for U*****.65 million, confirming a Reuters report last Friday based on "a source close to the deal".
      470 words
    • 527 4  -  Registered land title made virtually indefeasible By WEE LI-EN LAWYERS say a recent Court of Appeal decision upholding the indefeasibility of a registered land title will improve certainty and security in property transactions. The court overturned the decision of late trial
      527 words
    • 587 5  -  Merrill Lynch puts Genting's chances of clinching Sentosa IR at 75% By UMA SHANKARI THE signs at least those from the stock market seem to be pointing to Genting International as the top pick to clinch the right to build the Sentosa
      Source: Bloomberg  -  587 words
    • 187 5 TOTAL Access Communication (TAC) has made further headway in its plan to list on the Stock Exchange of Thailand which will qualify it for a lower Thai corporate income tax rate. In a filing to the Singapore Exchange (SGX) yesterday, the Thai mobile
      187 words
    • 253 5 —Reuters [BANGKOK] Advanced Info Service PCL (AIS), Thailand's top mobile phone operator, said yesterday it expected promotions to push its post-paid subscriber number to 2.1 million by the end of this year. AIS, has about two million post-paid subscribers now, Thitipong Khiewpaisal, vice-president
      —Reuters; REUTERS  -  253 words
    • 336 7 Jobs from S'pore, Malaysia, China and Taiwan to impact 2007 revenues Reports by MATTHEW PHAN SESDAQ-listed Darco Water Technologies has secured 13 new projects worth a total of $12.85 million, including a $4.4 million contract for an industrial wastewater treatment system in Singapore.
      336 words
    • 191 7 DAYEN Environmental has won a US$lO.2 million contract to build a municipal water treatment plant for Cambodia, its first project in that country, the company said yesterday. The contract will see Dayen build a 65 million litre a day municipal water treatment plant for the
      191 words
    • 395 7  -  By JEAN CHUA MAN Wah Holdings has added US$ll million to its order book from July to September by participating in trade shows, and expects many more such orders since there are at least four more trade fairs on its calendar for the
      FILE PHOTO  -  395 words
    • COMPANY BRIEFS
      • 51 7 SSH Corporation Ltd has subscribed for 290,000 more shares at RMI.OO each in its subsidiary, Singmetal (M) Sdn Bhd via capitalisation of inter-company loans. Following the subscription, SSH now holds 297,000 ordinary shares, representing 99 per cent of Singmetal (M) Sdn
        51 words
      • 49 7 JURONG Technologies Industrial Corp (JTIC) said the total consideration for its 31 per cent shareholding in a new associate, SEB Pte Ltd, is $4.35 million in cash. Its net asset value of the shares acquired is about $3.58 million.
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      • 71 7 Sing Hldgs f KepLand, Hong Lim to sell Sing-Mas stake SING Holdings, Keppel Land and Hong Lim Investments are selling their entire stake in Sing-Mas Investments, which owns about 98 per cent of Ocean Towers in Shanghai to Ascendas for $152.5 million. The sale will yield a profit of $48.8
        71 words
      • 92 7 Ml YESTERDAY launched new pre-paid and lop-up cards that offer greater value and benefits. The Super M top-up card is available in two versions: One costs $30 and has a bundled value of $100 while the other costs $20 with a
        92 words
      • 75 7 BRITISH and Malayan Trustees Limited (BMT) said it is planning a capital reduction exercise. It does not deem it necessary to make a call on its partly paid-up shares. It also does not intend to have partly paid-up shares now that it is no
        75 words
    • 535 7  -  The firm will gain from a surge in online bookings, visitor arrivals By CONRAD TAN KIM Eng Research has issued a "buy" call on Asiatravel.com, which provides online airline and hotel bookings, saying the company's latest initiatives will help it benefit from a
      FILE PHOTO  -  535 words
    • 225 7  -  By WONG WEI KONG GRP Ltd has agreed to sell its Bukit Batok property for $18 million in a sale-and-leaseback deal with an Australian party. The company said yesterday that it has accepted the terms of a letter of
      225 words
  • Page 4 Advertisements
    • 1336 4 SPINDEX SPINDEX INDUSTRIES LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****1451 M) NOTICE OF THE 19™ ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 19th Annual General Meeting of the Company will be held at 6 Neythal Road, Singapore *****3 on Tuesday, 31 st day of
      1,336 words

  • Page 5 Advertisements
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    • 97 5 ri'-jLi c-t*J& v ~V' W. afc ifc *■> >i *t''■;>" WSkki?, i f #M>* -.>s'£■ j} gs v-"-' .f| :t i v <*• •r->' &Srafafsf fr-7" ;'f < v vIV ■>•• Mfr*WK v* js s V ■HRPMf'- *»SBR fPPfv* i*m M i IP M A A Since 1856, we have
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  • SINGAPORE MARKETS
    • 580 6  -  STOCKS Index dives by up to 40 points before short-covering lifts it to 2,621.5, down 27.8 points R SIVANITHY Senior Correspondent Having risen 130 points in the previous 10 trading sions, it wouldn't have been unreasonable to expect the Straits Times Index to come
      Source: Bloomberg  -  580 words
    • 983 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Oct 9 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy I Shares Per Before After Stock Pate Director Sell '000 Shr S ('000) C000) CGTech, 9-C>ct-06 LamChikTsan *Buy 300 0.39 *****2 46.35 *****2 46.47 CG Tech 9-Oct-06 Cuau Grp(Hkg)
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    • Article, Illustration
      899 6  -  Compiled by UMA SHANKARI Tat Hong Holdings Oct 9 close: SSI.II OTIGROUP RESEARCH, Oct 9 OUR recent discussion with the management suggests that Tat Hong remains in a strong position, benefiting from a tight industry and exposure to the resource/infrastructure sector which is still seeing much activity. Utilisation rates
      Source: Bloomberg  -  899 words
    • 483 6 CURRENCIES Reuters [LONDON] The yen fell to an eightmonth low against the dollar yesterday after North Korea said it had successfully conducted an underground nuclear test. The dollar was also supported by expectations that US interest rates are unlikely to fall soon due to
      Reuters; BLOOMBERG  -  483 words

  • Page 7 Advertisements
    • 238 7 Ilworking From Home? mVirtual Office dedicated phone number answered your company name BftnH Meeting rooms and m* boardrooms IHKrTM Business lounge H m f*| H ■PHH -60 hours free 3 |H] per month H ft Secretarial Services A From $125 p«r month Ifl BfSjBL m Two month's at hatf price
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  • Page 8 Advertisements
    • 4657 8 c£f NOTfCFS I A Toll free: 1800-289-8822 Email: notices@sph.com.sg I GOODPACK LIMITED (incorporated in the Republic of Singapore) (Company Registration No: *****0547W) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 27* Annual General Meeting of Goodpack Limited will be held at 7 Harrison Road, #06-01 Harrison Industrial
      4,657 words

  • COMPANIES: CHINA STOCKS
    • 515 9  -  Proceeds from its preference shares issue will go to acquisitions, R&D By JEAN CHUA STAR Pharmaceutical will use the proceeds from its preference shares issue to expand its capacity through acquisitions and research and development, focusing on its TCM-formulated drugs. The China-based drug
      515 words
    • 328 9  -  By JEAN CHUA SHARES in China Kangda Food Company rose as much as 44.6 per cent in early morning trade on its first day of trading yesterday, before closing 30.4 per cent higher after an initial public offering that raised $42.3 million. It
      328 words
    • 462 9  -  By MICHELLE QUAH KIM ENG believes it's time for a second look at Pine Agritech's stock, with its shareholders due to vote on a stock split on Oct 23. The proposal, if approved by shareholders, will boost the number of Pine shares
      462 words
  • Page 9 Advertisements
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    • 112 9 Wm>m With an unwavering drive for winning, an entrepreneurial spirit that's second to none and an unmatched passion for achieving maximum returns on your investment, ING will build and manage your wealth with a personal touch. This dedication, combined with our access to global knowledge and a wide range of
      112 words

  • SINGAPORE NEWS
    • 456 10  -  Fertility rates fall, life expectancy up, family support down: CPF Board By GENEVIEVE CUA SINGAPORE is staring at three "storm clouds" over retirement savings as fertility rates fall, life expectancy rises and family support shrinks, according to CPF Board chief executive Liew Heng San.
      456 words
    • 496 10  -  By ARTHUR SIM, DANIEL BUENAS ARCHITECTURE and design accounts for 25 per cent of the selection criteria for the proposed Sentosa integrated resort (IR), down from 30 peV cent at Marina Bay, but the bidders are going over the top anyway. Yesterday
      YEN MENG JIIN  -  496 words
    • 168 10 INNOVATIONATION, an $11 million technology showcase to celebrate Singapore's 25 years of infocomm achievements, opens to the public tomorrow. To put together the exhibition, the Infocomm Development Authority of Singapore (IDA) has spent about $6 million, while industry partners have poured in another $5
      168 words
    • 339 10  -  By LESLIE YEE BANK of America (BOA) has launched a push in Asia to expand coverage of mid-dle-market clients. The financial giant said yesterday that it has appointed Janet Young, 44, to spearhead the initiative. As managing director and regional head for MNC
      339 words
    • 504 10  -  By OH BOON PING SENIOR managers in Singapore are wealthier than their counterparts in regional markets like Japan, China and India, a recent survey shows. Based on rankings from the National Salary Comparison Survey 2006, the republic's top managers came in fourth in terms
      504 words
    • 616 10  -  By KALPANA RASHIWALA HO Bee Group has sold about 90 units at The Coast condo at Sentosa Cove since Friday at an average price of $1,500 per square foot— and plans to raise prices gradually. The average price achieved so far for
      616 words
    • SINGAPORE ROUNDUP
      • 70 10 BIOLOGICS contract manufacturer A-Bio Pharma Pte Ltd yesterday said it has won a process development and clinical supply services contract from GlaxoSmithKline Biologicals (GSK Bio) for an undisclosed sum. The deal, believed to be in the "multi-millions", is A-Bio's fourth agreement with GSK
        70 words
      • 57 10 ANDREW Ng, managing director of Kiat Lee Industries, is the new president of the Singapore Furniture Industries Council, which is aiming to make Singapore a premier furniture hub. He takes over from James Koh, deputy chairman and managing director of Koda, whp has completed
        57 words
      • 55 10 THE chief executive of the European Science Foundation (ESF), Bertil Andersson, has been appointed the first provost at Nanyang Technological University (NTU). Professor Anderson, 58, will assume office next April. "He shall be serving as the chief academic and budget officer of NTU,"
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  • THE BUSINESS EDGE
    • 1330 11  -  NANDE KHIN looks at how SMEs can tackle problems such as the lack of a business strategy and manpower issues NANDE KHIN IT'S NO secret that local small and medium-sized enterprises are no longer chiefly concerned with just access to funding any more. Now that the
      FILE PHOTO  -  1,330 words
  • Page 11 Advertisements
    • 59 11 Your point of view Do business strategies contribute significantly to the success of companies? a) Yes, definitely b) Yes, but business strategies are just one of the many important factors c) No, not at ail Please log on to www.tobcxom.sg/l/2/bizedge to share your views today. The first 50 respondents will
      59 words
    • 209 11 -iX I HHEf Mr nBSw |HI y, r* 188 mm H l~h@ similarities ra c to an y business, ask the right questions and SBS ■■I you will realise that two clearly different firms 9Hr flHBj can DG UnCanny. may just share similar plans and ambitions. Both fIBK |HH may
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  • SMEspotlight
    • 507 12 A mobile 'clinic' will visit key industrial areas, offering free credit advice to small and medium-size enterprises, reports NANDE KHIN BUSY SME bosses need not take time out to get their companies a financial "healthcheck". For the rest of this business week, a mobile "clinic" will
      507 words
    • 5168 12 UNIT TRUSTS FUNDS AS Amer Income AT USD 8.61 AB Amer Income BT USD 163/ AB An* Ham* A USD 8.61/ f (yp nm AiAnwtameBUSD Ml/ f?E Al An* ham* A El* 6X31 S&SSu l«£ A» Amer tame B EUR 6.83/ IS ElMp tame Opp at 5® ,14.9* SiltilSjf If?
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    • 804 13  -  SMALL CAPS Sinwa aims to move into related services first instead of new markets, reports NANDE KHIN NANDE KHIN Marine supply and logistics provider Sinwa is wary of expanding into new geographic markets too quickly. Instead, it wants to strengthen its operations in China and
      804 words
    • 404 13  -  By TEH HOOI LING OUR small cap portfolio had a very good time last week, with a few stocks benefiting from analysts' "buy" calls and others being re-rated after announcing contract wins. The overall value gained 3.1 per cent, ahead of the Straits Times
      404 words
    • 389 13  -  By NANDE KHIN OCBC Bank, which has become the sole sponsor of the Enterprise 50 (E5O) awards this year, sees the sponsorship as an opportunity to show its support for and commitment to Singapore's small and medium-size enterprises (SMEs). David Tang, head of the
      ARTHUR LEE  -  389 words
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  • Page 13 Advertisements
    • 155 13 MORE EFFICIENT j% CONNECTIONS. LESS WAIT. With our new morning flight to Tokyo, transit time will be cut I I WiMWiM dramatically! Forget the dreaded 10-hour wait, depart for San f Franscisco and Los Angeles in less than I hour. You can also expect more prompt connections to Chicago, New
      155 words

  • ECONOMY WATCH
    • 428 14 1m bpd Opec cut planned to arrest heavy oversupply, while traders fear heightened tension in Asia AFP. Reuters [LONDON] Oil climbed back above US$6O a barrel yesterday as Opec's president called for the cartel to cut one million barrels
      AFP. Reuters; AP  -  428 words
    • 482 14 Bloomberg [NEW DELHI] Indian Prime Minister Manmohan Singh may struggle to convince investors to help fund US$32O billion of infrastructure spending by 2010 because he can't persuade his government to draw up investment rules. Mr Singh, 74, doubled his budget
      Bloomberg  -  482 words
    • 422 14 Bloomberg [KUALA LUMPUR] Malaysia's industrial production expanded in August at the slowest pace in four months as mining contracted and manufacturing output growth eased amid easing overseas demand for the country's goods. Production at factories, utilities and mines increased 5 per cent
      Bloomberg  -  422 words
    • 272 14 The anti-dumping duties on leather shoe exports are shortsighted: official AFP [BEIJING] China said yesterday that newly imposed European Union (EU) anti-dumping tariffs on its exports of leather shoes were a sop to protectionist sentiment that ultimately would help no one. "It's a c»ve-in
      AFP  -  272 words
  • Page 14 Advertisements
    • 1577 14 zaL.„ 1 International COMMUNICATION DESIGN INTERNATIONAL LIMITED (Incorporated in the Republic of Singapore) (Ca Reg. No: *****5053Z) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Communication Design International Limited ("the Company") will be held at 30 Toh Guan Road East #01-01/02, Capital One,
      1,577 words

  • MALAYSIA/INDONESIA
    • 345 15 Accord could pave way for free trade agreement says EU official AP [KUALA LUMPURI Malaysia and the European Union yesterday agreed to launch negotiations for a broad cooperation pact that could lead to an eventual free trade agreement, a top EU official
      AP  -  345 words
    • 525 15 Reuters [KUALA LUMPUR] Malaysian monopoly power distributor Tenaga Nasional is expected to say this week that its fourth-quarter profit rose by more than a third, boosted by its first tariff increase in almost a decade. Tenaga is Malaysia's most indebted publicly traded firm,
      Reuters  -  525 words
    • 623 15  -  Claim that NEP target long crossed angers many By S JAYASANKARAN in Kuala Lumpur AN acrimonious debate has broken out in Malaysia over a think tank's claim that the ethnic Malay share of cor-, porate equity had reached 45 per cent by September 2005.
      AFP  -  623 words
    • 322 15 Bloomberg [JAKARTA] Chevron Corp, the second-largest US oil company, will invest US$6 billion in an offshore Indonesian gas project, replacing depleted fields that supply the world's biggest gas export plant. Chevron will spend the money before 2012 to develop the Gehem
      Bloomberg  -  322 words
    • BRIEFLY ASIA
      • 71 15 Reuters [BEIJING] China's economy is in good shape but the authorities need to keep up efforts to control investment, credit and the trade surplus, the country's top planning official said in remarks published yesterday. Ma Kai, head of the National Development and Reform Commission,
        Reuters  -  71 words
      • 81 15 Reuters [JAKARTA] The percentage of total Indonesia banking industry assets held by Islamic banks will likely grow to between 5 and 6 per cent by 2011 from around 1.5 per cent now. due partly to a stronger legal framework, a central bank
        Reuters  -  81 words
      • 42 15 Reuters [SHANGHAI] Aluminum Corp of China Ltd, the country's biggest aluminium producer, plans to invest six billion yuan (Ssl .2 billion) in Fushun Aluminum Co to expand and upgrade production, a Fushun official said yesterday. —Reuters
        Reuters  -  42 words
      • 73 15 Reuters [BEIJING] Global financial service giant Citigroup has received a quota to invest US$5OO million abroad on behalf of domestic clients, the State Administration of Foreign Exchange said on its website yesterday. In a separate announcement, the foreign exchange regulator said it had given
        Reuters  -  73 words
      • 57 15 Reuters [BEIJING] Australia's Sino Gold Ltd, the first foreign firm to mine gold in China, has appointed Morgan Stanley to advise it as the company prepares for an initial public offering (IPO) in Hong Kong. The IPO could raise between US$2OO-$4OO million, the South China
        Reuters  -  57 words
      • 51 15 Reuters [NEW DELHI] Swedish telecom major Ericsson told Reuters yesterday it had emerged as the lowest bidder for a multi-billion dollar GSM line contract offered by Bharat Sanchar Nigam Ltd, India's No 3 mobile services firm. The contract is the secondstraight major coup for Ericsson.
        Reuters  -  51 words
  • Page 15 Advertisements
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  • INDIA
    • 499 16 Euro steel market reacting well to the possibility of a foreign entrant [KOLKATA/MUMBAI] Tata Steel's interest in its AngloDutch rival Corus Group has been dubbed as ambitious but plausible by the British media, says the Business Standard. Although Tata Steel is considered to be
      499 words
    • 336 16 Govt overruling RBI suggestion to limit such investment to 24% [NEW DELHI] Overruling the suggestion by the Reserve Bank of India (RBI) to allow foreign investment of only 24 per cent in stock exchanges, the finance ministry intends to finalise shortly a cap
      336 words
    • 511 16  -  By PRIYANKA BHARDWAJ in New Delhi MORE and more companies abroad are considering offshoring their financial operations to India. In September, the National Australia Bank, an international financial services group, announced that it was packing off 70 jobs to India, and in the
      511 words
    • 209 16 Economic Times [NEW DELHI] Japanese corporate giant Sumitomo Corp, Malaysia's YTL Corp Berhad and Israel Electric are among six foreign bidders eyeing the 4,000 MW Andhra Pradesh ultra mega power project, which is also eagerly sought by 11 others, including National Thermal
      Economic Times  -  209 words
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    • 91 16 <1 «»»»-•»*•,*»..««iM'rt*'.* s^, n-r iJI "t 11 i ;i£± x 4 W&w* H® >■ 10T WMmmk 9n||g& Ippglp f THE SECOND BEST PLACE TO FIND OUT WHO STOPPING Wk THE CORPORATE SCOREBOARD. I III 1 For the best place, there's only one source you can trust gpi* The Business Times
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  • GREATER CHINA
    • 798 17 Deal could swell to US$22b if the bank exercises an overallotment option Reuters [HONG KONG] Industrial and Commercial Bank of China (ICBC), the country's largest lender, filled its Hong Kong institutional investor book on the first day of marketing for what could be a
      Reuters  -  798 words
    • 184 17 AFP [BEIJING] Leading US think-tank the Brookings Institution plans to open a China policy centre in Beijing this week, the Financial Times reported yesterday. The centre will be funded by the former chairman of Goldman Sachs, John Thornton, who has
      AFP  -  184 words
    • 458 17 HK stocks make Merrill Lynch Asia-Pacific list Reuters [HONG KONG] Property developer Cheung Kong, China Life, the country's top life underwriter, and China Mobile, the world's largest cellular carrier, were among Merrill Lynch's top regional picks, the bank said in a report dated yesterday. Other Hong Kong-listed shares in Merrill
      Reuters  -  458 words
    • 345 17 Reuters [SHANGHAI] China Life Insurance Co. the country's biggest life underwriter, aims to buy a controlling stake of local broker Galaxy Securities Co, an official newspaper said yesterday. China Life has approached Galaxy Securities for a possible deal that may
      Reuters  -  345 words
    • 335 17 Reuters [SHANGHAI] Citigroup Inc, the world's largest financial services company, and Northern Trust Corp were picked as custodians for overseas investments of China's US$29 billion national pension fund. They were selected from six applicants, the National Council for Social Security Fund said in a statement
      Reuters  -  335 words
  • Page 17 Advertisements
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    • 125 17 Taste of Guangzhou v ',j, I he land of fin■ I'earl Kiver i\ w ell-known finite it I'i'i lor\ of meal <//x//<• s bat al\o \iiiki a balaih e in minx ingredient* that ait' ref'willing iiud miti itton\. \iteli flavour* are evident in ili\ln *mli ii\ steamed seufood with \liiirl\sfin
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  • MIDDLE-EAST
    • 314 18 Bloomberg [DUBAI] Dubai, the secdnd largest member of the United Arab Emirates, is the most expensive city in the Middle East and Africa to rent office space yet remains competitive on a global level, Colliers International said. Premium office space in Dubai in
      Bloomberg; BLOOMBER  -  314 words
    • 696 18  -  This follows UAE's approval of halal. food certification issued by Muis By CLARENCE MICHAEL in Dubai SINGAPORE is following up on the UAE's approval of the halal food certification issued by the Islamic Religious Council of Singapore (Muis) and is
      FIIE PHOTO  -  696 words
    • 453 18 Reuters [DUBAI] Middle Eastern and Central Asian states have begun spending more of their oil revenue, checking the growth of external surpluses that are now a key part of the trade imbalances threatening the global economy, the IMF said. With the surpluses of oil
      Reuters  -  453 words
    • 2182 18 VOL Gamuda 3 56 OJU 430 OOt rtm General Corp .0.59 -0.01 68 Gerrtmg 25.50 0.25 2776 AAMItoaity— __139 -001 6 George Kent 052 unch 75 Abrk 0.31 undl 2 GHl Systems 034 0.01 4319 ACPraotries .0.92 unch 90 GlobetronicsTech 030 unch 1144 Advance Synergy 0.18 -0.01 232
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  • Page 18 Advertisements
    • 586 18 PERTAMA HOLDINGS LIMITED Company Registration No. *****0483W (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be held at 315 Outran) Road, #01-01/02 Tan Boon Liat Building, Singapore *****4 on Friday, 27 October 2006 at
      586 words

  • ASIA-PACIFIC/WORLD
    • WORLD WATCH
      • 75 19 Reuters [LONDON] Citigroup Inc chief executive Charles Prihce wants to boost the proportion of the bank's earnings from outside the United States to 60 per cent from 45 per cent in the next few years, according to a Financial Times report. The US bank
        Reuters  -  75 words
      • 110 19 Reuters [LONDON] Long-term investors in the world's largest stock exchanges should watch out for short-term hedge funds driving them into bad mergers, the head of the New York Stock Exchange was quoted as saying yesterday. The prospect of consolidation is gripping equities markets, with
        Reuters  -  110 words
      • 141 19 Bloomberg [CANBERRA] Australia's government has pitched its AsB billion (559.47 billion) sale of Telstra Corp shares squarely at retail investors, offering them a discount, 14 per cent yield and free shares in the nation's biggest telephone company. Individual investors will pay a first installment of
        Bloomberg  -  141 words
    • 283 19 AP [MOSCOW] Russia's OAO Rusal yesterday announced a three-way merger to create the world's biggest aluminium producer, dethroning US-based Alcoa Inc and underscoring the rise of Russia's commoditiesbased industries against a backdrop of rising prices. Under the terms of the agreement,
      AP  -  283 words
    • 512 19 AP, Reuters [STOCKHOLM] American Edmund S Phelps won the 2006 Nobel Memorial Prize in Economic Sciences yesterday for explaining the relationship between inflation and unemployment, work that has had a profound impact on macroeconomic policy. The 73-year-old Columbia University professor challenged prevailing views in
      AP, Reuters; AFP  -  512 words
    • 462 19 Reuters [BANGKOK] Pridiyathorn Devakula, named Thailand's post-coup Finance Minister yesterday, has built a reputation for keeping politics out of the central bank while keeping the currency and financial sector stable. Mr Pridiyathorn, born to an aristocratic family in 1947, assumed the role of
      Reuters; AP  -  462 words
    • 270 19 Reuters [DOHA] German utility RWE AG may get as much as £10 billion (5529.6 billion) for its Thames Water unit and Qatar is confident of winning the largest UK water and waste group, a Qatari official said on Sunday. Hussain A 1
      Reuters  -  270 words
  • Page 19 Advertisements
    • 43 19 •SlffOMß I Ask about our I I fabulous I f advertising i I rates t K91(3 fl K 1 I i I and let us provide the K solutions. Radio 91.3 is managed by SPH UnionworkS, a subsidiary Of fV- Singapore Press Holdings
      43 words
    • 1252 19 GATES ELECTRONICS LIMITED (Company Registration No. *****1902W) (Incorporated in Singapore with limited liability) NOTICE IS HEREBY GIVEN that the Annual General Meeting of Gates Electronics Limited ("the Company") win be held at Grand Mercure Roxy Hotel, The Boardroom, Level 16,50 East Coast Road, Roxy Square, Singapore *****9 on Wednesday, 25
      1,252 words

  • AVIATION
    • 542 20  -  Row with Japan contractor still unresolved; Lucio Tan threatens suit By AL LABITA in Manila THE Philippine government may have taken over a controversy-wracked Ninoy Aquino International Airport terminal, but its opening now appears uncertain as more legal battles loom. For one, the
      AFP  -  542 words
    • 253 20 Bloomberg [WASHINGTON] Emirates, the largest Arab airline, said it bought 10 Boeing Co 747-8F freighter aircraft and placed options for another 10 in an agreement valued at US$5.6 billion at list prices. "Our order for the 747BFs will be essential in helping us
      Bloomberg  -  253 words
    • 414 20 Martin George, lain Burns had been on leave of absence Reuters [LONDON] Two senior British Airways Pic (BA) executives have quit after being linked to an investigation into alleged price-fixing of fuel surcharges, Europe's third-largest airline said yesterday. BA, which is being
      Reuters  -  414 words
    • 167 20  -  By VEN SREENIVASAN [SINGAPORE] Tiger Airways' second-quarter passenger traffic rose 70.6 per cent, lifting passenger load factor by 7.1 percentage points. This raised traffic growth for the April-Sep-tember first half by 75.5 per cent year-on-year, resulting in a 9.7 percentage points rise in load
      167 words
    • 2121 20 DM EK344 0045 EK344 0200 ***** LH9771 1750 AF8088 2215 "U*g °*|f "J" °2*° JS2? lilS "28 £1? IQSI OTH NWDT IS AF8067 1850 QF82 221S rv«A< iatc 797c BA7381 1850 LH9770 2345 |5t22 650 MS9492 2335 Qf A 1gX> 234* UL2348 1650 NZ4354 2335 L*****
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  • Page 20 Advertisements
    • 139 20 BT/ZUJI Deals of the Week FIRST CLASS (from BUSINESS CLASS (from I HOTEL (from S) London $4,830 $3,255 $149 Gulf Air Gulf Air I DKTWWnOWS BUSMSSCIASS»o«S} ECQWOMY QASS ftßßtft HOtß(fam» WEAIH& Penang $422 (MalaysiaAMnes) $99 (Malaysia Airiincs) $79 j Ho Chi Milt!) $538 $185 (Vietnam Airimes) $113 4% Manila $710
      139 words
  • Page 20 Miscellaneous
    • 253 20 CRYPTIC CROSSWORD 6 Not the way to serve whisky when destitute P 1 1 1 1 1 1 1 1 P 11 Keen for sextet to appear in 12 A large lake, and nothing more 25 A guy's pone wild in place of I^IE 30 Hot roll for man's best
      253 words

  • SHIPPING
    • 779 21  -  Indonesia records first smog-related accident as cargo ship sinks By GEORGE JOSEPH [SINGAPORE] Ships sailing through Asia's busy waterways are being warned to keep a proper lookout to prevent accidents as a choking haze smothering the region reduces tyMalaysian and Singapore maritime authorities have issued
      AFP  -  779 words
    • PORT SHOTS
      • 73 21 Bloomberg [LONDON] Two seamen were killed and eight others were missing after a Mitsui OSK Lines Ltd commodity carrier ran aground in Japan, the company's thisd accident in three months. The Giant Step broke up in rough weather at the port of Kashima, Hidenori
        Bloomberg  -  73 words
      • 92 21 Bloomberg [ATHENS] Global Oceanic Carriers Ltd, a Greek shipping company that transports dry bulk such as coal and grain, plans to sell extra shares to existing investors to help finance the purchase of two ships. The company will sell as many as
        Bloomberg  -  92 words
      • 51 21 Bloomberg [DOHA] Qatar Shipping Co (QSC), a marine freight transportation company, said its profit fo> the nine months to Sept 30 will be "around" 321.5 million riyals (SS 136.4 million). Qatar Shipping reported net income 0f372.1 million riyals for the same period last year.
        Bloomberg  -  51 words
    • 301 21 Bloomberg [LONDON] The cost of transporting crude oil from the Middle East to Asia on 2 million-barrel tankers, having dropped to the lowest in almost 4Vi months, may extend its decline on a surplus of ships. Falling oil prices have prompted members
      Bloomberg  -  301 words
    • 516 21 Demand in China, India and Persian Gulf seen growing Reuters [NEW YORK] The head of the largest US-based Handymax dry bulk vessel owner, Eagle Bulk Shipping Inc, predicts a multiyear uptrend for the small dry bulk vessel market, defying some bearish expectations
      Reuters  -  516 words
    • 304 21 AFP [LONDON] Indian and Bangladeshi shipbreaking workers called on the industry's chiefs meeting in London yesterday to bolster regulation to cut deaths and injuries. "Shipbreaking workers in India and other parts of the world need work, but they need safe work," said Vidyadhar V Rane,
      AFP  -  304 words
    • 293 21 SGX '000 Oct 9 S$ W Vol CH Offshore 038 -0.01 256 Oman Hep 032 unch 3288 Cosco Corporation 1.76 -0.03 4296 CWT Distribution .0.59 -0.01 48 EzraHldgs 338 0.02 905 Freight Lmlu 0 07 unch 796 Grand Banks Yacht 088 0.03 5 Jaya Holdings 1.43 -0.01 289
      293 words
  • Page 21 Advertisements
    • 1180 21 LION TECK CHIANG LIMITED •>» qKfljk AworoorWrilntwWMUMcO>>n—KWl v Ml Km Oo Hag No *****0175K -.ry 1 NOTICE OF ANNUAL GENERAL MEETING t NOTICE 18 HEREBY GIVEN THAT the Annual General Matting of Uon Tack Chiang Limited (the "Company") wM be held at 10 Arumugam Road #10-00, Uon BuKftng A. Stngarxxv
      1,180 words

  • EDITORIAL & OPINION
    • 541 22 EDITORIAL AS top leaders of the Chinese Communist Party gathered over the weekend for the Sixth Plenary Session of the 16th Central Committee in Beijing, the buzz was that President Hu Jintao also the party's chief will use the occasion to consolidate his
      541 words
    • 937 22  -  In the past few months, Angela Merkel's government has been bogged down in party squabbles and disagreements with coalition partners MATTHEW LYNN WHEN German Chancellor Angela Merkel took power last year, many people painted a rosy scenario for Europe's biggest economy. A pro-business government
      AP  -  937 words
    • 749 22  -  THE BOTTOM LINE HARISH MEHTA SOMEHOW, genetically modified (GM) rice may have entered the food mainstream in Asia despite the fact that is not approved for consumption anywhere in the world. The environmental group Greenpeace warned that the food supply'in
      749 words
    • 823 23  -  At the heart of the matter is the philosophy of the Shanghai clique who favour provincial autonomy in economic affairs JEREMY HUREWTTZ in Shanghai THE -recent arrest of Shanghai Communist Party boss and Politburo member Chen Liangyu has shaken the Chinese political world and has China
      REUTERS  -  823 words
    • 821 23  -  International standards have become the price of admission to the global economy By DANIEL ALTMAN IHT WHEN people talk about the forces that make globalisation happen, the first things that come to mind are often information technology, transportation and trade. But there's another important factor that connects
      IHT; FILE PHOTO  -  821 words

  • Page 23 Advertisements
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      57 words

  • 9913 24 SGX MAINBOARD Transaction date: Oct 9 52-Wk Td Last Vol Day Last Quota Mt GrVW Nat MCap low Coda Cowp—y Sale *h C080) High Km —yar Sa«ar CV HI hi 3.5 1 5716 1st Software 2 -0.5 454 2.5 2 2 3 8.1 11.5 6 3148 STetecom 6.5
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  • 5755 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In tool am tm SS hi USS &i ft Kcty yr dy «yr Oct* mdp Owig* O«m« Oufn» Charxf Ouim Owip« HwWwMlndatfttfcnn»Y HWJ -03 7.4 -QJ 5.1-0.6 9l9 »JAft Pw&njiag 00 78 -03 aO -0.7 12.9 EuypePwfcraiary ***** HQ 9l8 -03 124 -0.7
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  • Page 26 Advertisements
    • 1571 26 UK CONTINENT SERVICE 11.5.A SERVICE Destination j Destination MARITIME PEACE RDM/ATW/BMN/TLB/NAN HANJIN PENANG LAX/VCW/MZL OCEAN TRADER RDM/ATW/TLB/NAN STX POTBN CAM/NFK/NOL/SAV loodi Singapore, E-/W. Malaysia, Indonesia Loodi E./W. Malaysia, Indonesia MIDPLE-EA T SERVICE F.EVS.E.A. SERVICE Destination BEL ANNA DBI/ABU/DOH/BRN/DMM/KWT Destination ADDU STAR JDH/AQA GLENGO INC/BSN JUPITER CHAM DBI/ABU/DOH/BRN/DMM/KWT Loads Singapore, E./W.
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    • 513 26 VlftlV WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobol.com VBsa VOY RAMP HB6WT SI LK MAO SAY Ml Off TOOBCOmG AH2O 4001 M 6.3 M M PORT 30/10 00/11 12/11 17/11 10/11 TAMCSIS AM3I 3201 MS MM 27/10 20/11 20/11 03/12 07/12 05/12 WOU AUIO 4QOW» tJM 10/11 10/12 2S/12 2f/12 27/12 Haw
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  • Page 27 Advertisements
    • 853 27 WAN HAJ INTERNATIONAL PIE LTD <* Nft **********0/* V\*C\WAN HAI LINES SfflSXMSa™V v nam.-|ol)334tlttSnX:|o3)3M232MFßllß:fo<)22timMX:|M|2ltM* V JOH 1H: 107) 251OT23HUL|07)Klt»2l Sl* IH. I 031) 32*5475 FU. 1031) 32*2714/3W1305 WWW.WMbai.COM.tg JCTIH:WI)S2S4IMFU:|O2I)S2S47I»K«*;7I43«I/71*3»1 HUL7IU7* 1H: INI) 4157H3 m m 415W8/414H0* WEEKLY EXPRESS SERVICE TO AND FROM CALLING SINGAPORE EVERY THURSDAY CALLING PALEMBANG EVERY SUNDAY
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 4104 28 This ETA ETA Advertfcer VmmI Voyage Telephone ETA ETA Adwertfcer Vetsel Voyage Telephone SI* Deefn Name Nemo Number Number SIN Deefn Name Name Number Number To DUNKIRK (DUK) 2117 France To ABIDJAN (ABJ) 2003 Cote D'lvoire 2 3/io 05/12 NGPt mahinabank SP202 *****288 1*10
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  • PROPERTY
    • 637 29  -  Rising disposable income, govt push create openings for foreign players By JEAN CHUA [SINGAPORE] Foreign direct investment (FDI) in Chengdu's real estate market hit US$6 billion last year, growing 2Vt times in five years. But the expansion is just beginning, says consultants CB Richard
      FILE PHOTO  -  637 words
    • 365 29 [WELLINGTON] The pace of growth in New Zealand house values steadied in September after slowing for seven straight months, a survey showed yesterday, potentially adding to the central bank's wariness on inflation risks. Government agency Quotable Value (QV) said its residential house price
      365 words
    • 452 30  -  Alternative use for agriculture; land to be sold on 20-year leasehold tenure By KALPANA RASHIWALA THE Singapore Land Authority (SLA) is offering three sites in Lim Chu Kang for agricultural use as well as a mix of agriculture, recreation and entertainment uses,
      452 words
    • 357 30  -  By UMA SHANKARI ENG Tai Mansion, a freehold residential site near Somerset MRT station, is up for collective sale at $90.4 million. The 38,300 sq ft site at St Thomas Walk in prime District 9 beside Orchard Road could fetch about $80
      357 words
    • 393 30  -  By WONG WEI KONG A UNIT at Setia Residences a freehold development by the Cheng family of the Prima group was sold for $1,600 per sq ft over the weekend, setting a new record for the Newton area. The 3,348
      393 words
  • Page 29 Advertisements
    • 226 29 116 Changi Road Freehold Commercial Building For Sale 4-storey office building with basement carpark EL Within walking distance to Eunos MKT Station »ccess tp PIE, ECPand City llMfe I '1111 l S,te Approx. 16,694 sq ft Net floor Area: Approx. 43,000 sq ft Ideal for corporate office building For Enquiries,
      226 words
    • 451 29 FREEHOLD CONSERVATION SHOPHOUSES FOR SALE BY EXPRESSION OF INTEREST mg*4 gK i 2 storey shophouses at i "t 337-343 Balestier Road I Freehold aBETEHIH™ Newly refurbished Total GFA 13,500 n Excellent comer location Possible conversion to hotel use Ideal for owner < pSsi. A/ occupation or Investment o WffHttm """ly,
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  • Page 30 Advertisements
    • 154 30 E Vflfe PMNfIL. mSm> —fe?Mb*?-jjii I g| H^ull Enjoy stunning ocean views in a home of your own creation A spectacular lifestyle of unrivalled luxury awaits you at Sentow Cove Singapore's only integrated oceanfront marina residential community. |&|2^flPM n |*"9^9| Surrounded by two championship golf courses (home to the Barclay*
      154 words