The Business Times, 24 October 2006
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2006-10-24
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The Business Times
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Title Section26 2006-10-24 1 THE BUSINESS TIMES warn th ANNIVERSARY 3> SINGAPORE 85 cents online at http://business-times.asia 1 .com.sg A SINGAPORE PRESS HOLDINGS PUBUCATION MICA (P) 099/03/2006 Tuesday, October 24,200626 words
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Article, Illustration989 2006-10-24 1 SAMUEL EE - Public transport use to be promoted and transport system will aim to benefit people movement rather than vehicle movement, says minister Reports by SAMUEL EE [SINGAPORE] A new road map is being developed to guide Singapore's key land transport developments over the989 words
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351 2006-10-24 1 Vital to make public transport the mode of choice [SINGAPORE] Some $207 billion of domestic goods were transported from Singapore's industrial hubs to its airports, sea ports and customs checkpoints for export last year. So a land transport system that provides efficient links351 words
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637 2006-10-24 1 PAULINE NG - It says stance is to prevent distortion of earnings By PAULINE NG in Kuala Lumpur MALAYSIA'S Air Asia is not only pushing aviation boundaries. The budget airline's treatment of its unaudited accounts for its final quarter ended June has created debate in the accounting fraternity.637 words
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Page 1 Advertisements
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Advertisement25 2006-10-24 1 CHINA REIT Go-ahead for Capita Land's listing PAGE 5 OUSTER OF CHAIRMAN. DIRECTOR CEOs share their views on how it should be done PAGE 525 words
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Advertisement39 2006-10-24 1 MIDDLE EAST Gulf IPOs to top USsBb by year's end PAGE 16 iaa«!a ii i ■ii'bl! 41 Lrylli[ffl II II j? SME SPOTLIGHT sports fl| promoter fl K a The supermarket brothers page 11 The wine retailer PAGE 1039 words
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TOP STORIES
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Article, Illustration1035 2006-10-24 2 MICHELLE QUAH - He urges directors to view new requirement positively By MICHELLE QUAH [SINGAPORE] Singapore's new requirement that boards of listed companies provide a negative assurance on "financial statements has struck fear in the hearts of many. And rightly so, says one expert, because theBLOOMBERG; JOHN HENG - 1,035 words
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Article454 2006-10-24 2 Sustainable energy is next, says Rabobank RABOBANK has earmarked its Singapore office to play a key role in the Dutch bank's move to tap into the development of sustainable energy where, its chairman Bert Heemskerk says, huge opportunities are on offer. But for investors seeking to cash in,454 words
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Article132 2006-10-24 2 STI 2,691.61 (+5.18) ST INDEX FUTURES 2,691.00 (+5.00) SIMSCI 324.56 (+0.97) I SIMSCI FUTURES 324.80 (+1.60) MARKETS Monday Change KLCOMP Closed NIKKEI 225 16,788.82 +137.19 HAWGSBIG 18,0>9J5 -23.70 SET wax Oowd JAKARTA COMP Closed MANILA COMP 2,625.52 +8.11 SEOUL COMP 1.364.95 +0.71 SHENZHEN! ***** -1.82 MUMBAIIND 12,623.28 -113.54132 words
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Article, Illustration980 2006-10-24 4 LESLIE YEE - Its S'pore office will have key role in tapping the area's growth potential By LESLIE YEE [SINGAPORE] Rabobank has earmarked its Singapore office to play a key role in the Dutch bank's move to tap into the development of sustainable energy where, its chairmanARTHUR LEE - 980 words
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Page 2 Advertisements
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Advertisement58 2006-10-24 2 people Black belts wanted. Www thepeopleatwork com Asia-Pacific Executive Search Ik Businessmen and corporate executives were found 'spa'-inq until 2.00 am at Orchard. Hk Some were even seen eating and drinking wine with their clients in the lounges.They were, For a limited period only, when you check in after 8.0058 words
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Advertisement24 2006-10-24 2 SCORE CARD Keep your investors Informed by advertising your financial results in our newspapers. Call 1800 289 8822 or email noticesfsphxom.sQ. Qj KAT3 NOTICES24 words
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Advertisement190 2006-10-24 3 X VA N, K O>U aster ot complications MASTER BANKER •j 1 00 00 0 0 0 ***** 00 00 0 0 0 0 0 00 0 0 0 0 0 000 0 0 00 0000 0 0 ***** 00 00 0 0 0 0 0 0 0 0 0190 words
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Advertisement6 2006-10-24 4 The Business Times FOR DtCISION MAKFRS6 words
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COMPANY NEWS
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Article, Illustration581 2006-10-24 5 UMA SHANKARI - CRCT will have initial portfolio of 7 retail malls in 5 Chinese cities By UMA SHANKARI PROPERTY developer Capita Land yesterday said it has received approval from the Singapore Exchange (SGX) to list its $690 million China retail real estate581 words
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Article, Illustration822 2006-10-24 5 Or shouldn't, in the case of Robinson chairman's ouster LAST Tuesday, Robinson's shareholders booted out Michael Wong Pakshong, its chairman of 10 years, at its AGM. Many readers were upset by the manner in which 74-year-old Mr Wong—one of the few remaining822 words
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191 2006-10-24 5 A NFW variant of the Bionix Infantry Fighting Vehicle developed by Singapore Technologies Engineering (STE) has been commissioned by the Singapore Armed Forces (SAF), STE said yesterday. The new Bionix Mk II is equipped with wireless networking capabilities that allow it to link electronically191 words
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344 2006-10-24 5 CONRAD TAN - By CONRAD TAN MMP Reit yesterday reported third-quarter distributable income of $13.7 million, 9 per cent higher than projected at the time of its mainboard listing in September last year. The property trust's manager, Macquarie Pacific Star, said the strong results were largely due344 words
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Advertisement24 2006-10-24 5 Want the best price? Hold an auction. Call 1800 289 8822 or email notiees@sph.com.sg to book your auction notice in our newspapers now. NOTICES24 words
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Advertisement105 2006-10-24 5 A gg v--* Jr "W f L PATEK PHIUPPf i mmmm b§p O U nC\ C r /j 1 I The first ever Patek Philippe actuall v o w n a 11 ~~f /=1 self winding Chronograph Pa te k I' hi 1 i nne yy uith innovative 60 minutc105 words
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COMPANIES: CHINA STOCKS
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Article, Illustration608 2006-10-24 6 JEAN CHUA - COMMENTARY Uncovering of fake accounts at CFI units again highlights risk of China firms JEAN CHUA Reporter JUST as the dust has settled on China Aviation Oil and its massive derivative trading losses that it tried to hide from investors another Chinese company has droppedFILE PHOTO - 608 words
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Article352 2006-10-24 6 JEAN CHUA - OCBC sets fair value for counter at 64¢ on growth in China By JEAN CHUA OCBC Research has issued a buy recommendation on Landwind Medical Holdings, with a fair value of 64 cents, a 36 per cent upside from its current price. Landwind, which352 words
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Article6015 2006-10-24 6 UNIT TRUSTS FUNDS ■tnirXnTRTSHHHHHHB ABAmer Income AT USD 8.62/ AS Amer Income BT USD 8.6 V ABAmer Income A USD 8.61/ < s P°™> AS Amei Income B USD *6)/ Star Euope Eqty! 0.99* A8 Amer Income A EU* 6.82/ Star Euope Bond 177 AB Amer Income 1 EUR 6.82/6,015 words
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Page 6 Advertisements
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Advertisement38 2006-10-24 6 jjjl AllianzGl RCM Global Twin-Focus Fund a fund that offers you twin benefits AlliaTlZ (lii) of potential quarterly payouts and limits possible downside. Visit OCBC and other ILII r r j, r Global Investors distributors for more details.38 words
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COMPANY NEWS
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612 2006-10-24 7 OH BOON PING - They make buy recommendations with price targets of as high as $1.90 By OH BOON PING AFTER Chartered Semiconductor Manufacturing reported a third-quarter turnaround last week, various "outperform" or "buy" calls have followed, with Merrill Lynch setting a price target of $1.45 on the612 words
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404 2006-10-24 7 BEST World International Ltd expects to grow its profits at a compound annual rate of 30 per cent for the next three years by growing its presence in established markets and expanding into new ones, according to executive director Huang Ban Chin.404 words
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COMPANY BRIEFS
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49 2006-10-24 7 BERLIAN Laju Tanker's public offer of 576.1 million shares has raised $184.3 million ahead of a mainboard listing here. The liquid cargo shipping company, which is also listed in Jakarta, said the public tranche of 28.8 million shares was 2.9 times subscribed.49 words
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64 2006-10-24 7 MEDI-FLEX Limited has appointed SAC Capital Private Limited as the independent financial adviser to advise its independent directors. The advice will be in connection with the proposed whitewash resolution for the waiver of the rights of the independent shareholders to receive a mandatory general64 words
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Article36 2006-10-24 7 ADDVALUE Technologies said that director Chay Kwong Soon has resigned from its board effective yesterday "due to heavy work commitments locally and overseas". Mr Chay first joined the board in May 2000.36 words
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56 2006-10-24 7 THE Singapore Exchange yesterday queried Trek 2000 and Swissco International on the substantial increase in their share prices. Trek shares rose almost 22 per cent yesterday to hit 62 cents on volume of 21,580,000 shares. Swissco shares rose 19 per cent to hit 4756 words
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55 2006-10-24 7 MERRILL Lynch International Co CV yesterday said due to the breakdown of a server connection, the designated market-maker, Merrill Lynch International, was unable to make a market for certain warrants yesterday morning. However, the designated market maker has resumed making a market in the warrants55 words
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Article, Illustration231 2006-10-24 7 Bloomberg INDIA'S largest carrier Air India Ltd and Singapore Airport Terminal Services Ltd (SATS) have agreed with the Bangalore International Airport Ltd to provide ground-handling services at a new airport in India. A group led by Air India and SATS, which in SeptemberBloomberg; FILE PHOTO - 231 words
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382 2006-10-24 7 MATTHEW PHAN - By MATTHEW PHAN ORNAMENTAL fish farm Qian Hu Corp said corporate expenses related to overseas expansion and rising costs from efforts to reduce inventory levels have led to falling margins. For the third quarter of 2006, its net profits fell382 words
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Article, Illustration372 2006-10-24 7 UMA SHANKARI - By UMA SHANKARI ASCENDAS Real Estate Investment Trust (A-Reit) said yesterday it has signed a put and call option agreement to acquire two properties from Super Coffeemix Manufacturing for $49 million. Under the Oct 20 agreement, Super Coffeemix will lease back the372 words
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Page 7 Advertisements
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Advertisement180 2006-10-24 7 v <■ High powered courses for finance profes^m^s Sn Macquarie Financial Intelligence Series Knowledge leads to opportunity. Macquarie's financial knowledge has helped it become a significant participant in Asian financial markets. Macquarie is proud to offer one-day training courses in Singapore for finance professionals: Visual Basic for Financial Applications 31180 words
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SINGAPORE MARKETS
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Article, Illustration562 2006-10-24 8 R SIVANITHY - STI up but broad market down again STOCKS Traders focus either on big index components or second-liners driven by new research R SIVANITHY Senior Correspondent GIVpN that this is a holiday-shortened week that includes a US Federal Open Markets Committee meeting, it's probably no surprise that trading yesterday was cautious,Source: Bloomberg - 562 words
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Article, Illustration988 2006-10-24 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Oct 23 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Stodc Date Director Sell '000 Shr S 000) ('000) Trek 2000 23 0ct-06 Foo Kok Wah *Sell 500 0.66 1405 0.46 905 0.30 Nera Elect988 words
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Article, Illustration938 2006-10-24 8 CONRAD TAN - Compiled by CONRAD TAN Lion Teck Chiang Oct 23 close: 550.35 OCBC INVESTMENT RESEARCH, Oct 23 AFTER posting year-on-year price gains of 1.7 per cent and 2.7 per cent in Q1 and Q2 2006 respectively, the price momentum for detached houses continued into Q3 based on recent transactions.Source: Bloomberg - 938 words
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Article, Illustration548 2006-10-24 8 LARRY WEE - CURRENCIES LARRY WEE Senior Correspondent AFTER sliding on weaker than expected US data late last week, the US dollar was able to regain some composure yesterday ahead of a key US interest rate meeting starting today. Traders sug- gested that although the USSource: Reuters - 548 words
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SINGAPORE NEWS
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Article, Illustration492 2006-10-24 9 WEE LI-EN - Thrust of new initiatives is in training and development By WEE LI-EN THE legal service is out on an aggressive drive to attract, identify and develop talent, and yesterday the Legal Service Commission Secretariat unveiled some of its new initiatives. To attractFILE PHOTO - 492 words
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236 2006-10-24 9 NUS Business School has made the Financial Times top 30 ranking of executive MBA programs for a second straight year. NUS's Asia-Pacific Executive MBA in English and Chinese came 29th in the newspaper's 2006 ranking of the Top 85 EMBA programs, rising236 words
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Article, Illustration799 2006-10-24 9 FOR Asia's private bankers and their wealthy clients, the case of the "Citibank Six" will have far reaching consequences as it tests whether a client relationship belongs to the bank or the banker. Citibank is suing six former employees in Singapore who defectedFILE PHOTO - 799 words
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387 2006-10-24 9 Market revives talk of Dubai competing against Temasek Reuters [LONDON] Shares in Standard Chartered hit a sixmonth high yesterday after a media report that Dubai's investment arm may raise its stake in the Asia-focused bank to 20 per cent, revivingReuters - 387 words
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Article, Illustration624 2006-10-24 9 Bloomberg SINGAPORE'S inflation rate slid to a 14-month low in September as a strengthening currency made fuel and other imports cheaper. The consumer price index rose 0.4 per cent from a year earlier after gaining 0.7 per cent in August, theBloomberg; FILE PHOTO - 624 words
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Page 9 Advertisements
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Advertisement115 2006-10-24 9 £7 Earn $10,000* a month while keeping your^ot^^^DSESj&iE V Be Your Own tost. No Retrenchment Worries 17 Highly Popular "Global Job GuurUse ST No Prior sxperience required H S* You will be guided ifsp-by-itec i framing to bi>3d up yoor business I 17 Work Port-Tun# Earn FuHTintolrttaw "i [7 Very115 words
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SME spotlight
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Article, Illustration886 2006-10-24 10 NANDE KHIN - Enterprise 50 Awards winners tell NANDE KHIN that entering the contest helps them to review their business strategies and operations NANDE KHIN THE Enterprise 50 Awards (E5O) which have been around for more than a decade are more than just another accolade to adorn the trophyFILE PHOTOS - 886 words
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Article, Illustration1437 2006-10-24 10 NANDE KHIN - By NANDE KHIN WALK into any of Booze Wine Shop outlets, and the first thing one would notice is how remarkably cold it is. And it's not because the air conditioning is malfunctioning, but a deliberate attempt at storing the wines at a chilly 12 deg C.YEN MENG JIIN - 1,437 words
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Article, Illustration631 2006-10-24 11 OH BOON PING - World Sport Group smartly uses the power of sport as a marketing tool throughout Asia, reports OH BOON PING OH BOON PING SPORTS marketing is set to soar in Asia driven by content digitisation and deregulation of media, according to Singapore-based World Sport GroupJOHN HENG - 631 words
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Article, Illustration780 2006-10-24 11 FAIR price with quality service that's the business philosophy driving the Sheng Siong supermarket chain. "We differentiate ourselves from our competitors not only by offering fairly priced goods but also excellent service. This way, we offer true value for money," managing director Lim HockYEN MENG JIIN - 780 words
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Article, Illustration919 2006-10-24 11 MATTHEW PHAN - SMALL CAPS It sees foreign water projects contributing over half its revenue in 3 years, writes MATTHEW PHAN MATTHEW PHAN DAYEN Environmental is known among the water-related stocks on the Singapore Exchange (SGX) for its focus on Singapore. But the company has been aggressively919 words
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Page 10 Advertisements
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Advertisement71 2006-10-24 10 II I•« it# I lIMII I fit** VI jMMI. K JI I I' m wi i t 1 MmmMrnmSSSm mmmSmmmmSsß^sSß L m aSS ft it® r 111 ih. B i i-UMCU witu me.. Wi-k£ mtU. wi£. Explore, \We. world I lOcl*t 2pm. I I Mondau Friday 9 :s«dio9l3 I 1171 words
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Advertisement94 2006-10-24 10 The Enterprise 50 Awards, now in their 12th year, recognise the top 50 privately held local companies that are outstanding in areas such as 4^l} turnover and innovativeness. Companies are J* j ranked based on performance indicators such as operating profit and profit growth. The eso.startup awards are for young94 words
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ECONOMY WATCH
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708 2006-10-24 12 2007's 2t rupiah risk-sharing scheme is less than 1% of amount needed Reuters [JAKAßTA] Attracting foreign cash to build the roads, bridges and ports desperately needed in Indonesia may require the government to shoulder more of the risk to remove a logjam in projectsReuters - 708 words
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Article, Illustration1357 2006-10-24 12 Fed may have to raise interest rates to control inflation Bloomberg [WASHINGTON] Federal Reserve policy makers opened confidential briefing books at their Aug 8 meeting to find disturbing news between the green covers: their assumptions about economic growth and inflation may beBloomberg; REUTERS - 1,357 words
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426 2006-10-24 12 Bloomberg [SEOUL] South Korea's economy faces inflation pressure sparked by rising transport prices and the increased cost of renting homes, the central bank said. The Bank of Korea will operate interest-rate policy "more flexibly" as risks such as the regional impactBloomberg - 426 words
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286 2006-10-24 12 AFP [PARIS] The European Union yesterday warned China that it must redouble market reform efforts and its commitment to economic openness or face a protectionist backlash. "We will only be able to maintain the case for openness in Europe ifAFP - 286 words
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Page 12 Advertisements
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Advertisement22 2006-10-24 12 w Parting company? Call 1800 289 8822 or email notices@sph.com.sg to book your corporate notice in our newspapers now. KAT-fIW l NOTICES22 words
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MALAYSIA/INDONESIA
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Article, Illustration628 2006-10-24 13 PAULINE NG - He predicts gains by the Opposition in next election due to public displeasure By PAULINE NG in Kuala Lumpur MALAYSIA'S former strongman Mahathir Mohamad was still throwing punches yesterday a day after his long-awaited meeting with Prime Minister Abdullah Badawi to discuss issuesAP - 628 words
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Article, Illustration427 2006-10-24 13 Bloomberg [JAKARTA] Indonesian small business owners are worse off after two years of President Susilo Bambang Yudhoyono's rule and many may not vote for him again in the next election in 2009, a survey showed. About 43 per cent of survey respondents saidBloomberg - 427 words
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567 2006-10-24 13 Bloomberg [LUXEMBOURG] The European Union lifted a threat to impose tariffs on blank compact discs from China and Malaysia, marking the second victory this month for EU buyers of Asian consumer electronics over higher-cost European producers. The EU closed an inquiryBloomberg - 567 words
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Article458 2006-10-24 13 [KUALA LUMPUR] Rubber conglomerate Mardec Bhd is preparing for a listing on the Bursa Malaysia mainboard within the next one to two years, says a report in Starßiz, citing its group chief executive. Mahmood Abdul Kadir, the group chief executive, said Mardec was looking at various458 words
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Article456 2006-10-24 13 It is setting up an oil and gas division to boost income [KUALA LUMPUR] Sugar Bun Corp Bhd, the country's biggest homegrown fast-food franchise, is targeting a RM3OO million (Ssl2B million) oil and gas contract from* Petroliam Nasional Bhd (Petronas), Malaysia's Business Times quoted sources456 words
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BRIEFLY ASIA
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67 2006-10-24 13 AFP [BEIJING] The Chinese economy runs the risk of overheating in early 2007, state media said yesterday, as two foreign banks raised their growth forecasts for next year. A current modest slowdown in investment spending could soon be followed by a rebound, theAFP - 67 words
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54 2006-10-24 13 Bloomberg [NEW DELHI] Ansal Properties Infrastructure Ltd, an Indian real-estate developer, said its board approved plans to raise as much 27.3 billion rupees (*****.7 million) by selling securities to fund expansion. Ansal's board yesterday approved an "enabling resolution" to raise as much asBloomberg - 54 words
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51 2006-10-24 13 AP [SHANGHAI] China National Offshore Oil Corp said yesterday it will take over state-owned China National Chemical Construction Corp. In a statement on CNOOC's website, company president Fu Chengyu said the merger is in line with the government's aim to consolidate centrally controlled firms.AP - 51 words
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87 2006-10-24 13 Reuters [HONG KONG] China piped-gas supplier Shenzhen Gas Corp Ltd, which is 30 per cent held by Hong Kong and China Gas, plans to issue shares on the Hong Kong stock exchange in 2008, a newspaper reported yesterday. Yu Jian, the company'sReuters - 87 words
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82 2006-10-24 13 Reuters [HONG KONG] China's largest producer of the food additive glutamic acid, Shandong Fufeng Fermentation Holdings, plans to raise up to HK$9OO million (*****.3 million) in an IPO by the end of the year, a newspaper reported yesterday. The South China Morning PostReuters - 82 words
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Page 13 Advertisements
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Advertisement26 2006-10-24 13 I I m Lianhe Zaobao I I I seizes I I chance I I..China's I li high I Idemand I 111 nylon I I 9 fioer26 words
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GREATER CHINA
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543 2006-10-24 14 JANE MOIR - Their case is linked to disgraced Shanghai tycoon By JANE MOIR in Hong Kong HONG Kong's anti-graft agency has arrested and charged two former BOC International executives and three prominent lawyers for an alleged conspiracy to dupe shareholders at543 words
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Article404 2006-10-24 14 Commission head, deputy arrested as graft probe widens Reuters [SHANGHAI] The head of Shanghai's commission supervising state-owned companies and one of his deputies have been detained in a widening corruption investigation, two government sources said yesterday. Lin Baoheng, director of the state-owned Assets Supervision and AdministrationReuters - 404 words
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293 2006-10-24 14 Reuters [SHANGHAI] All trades on China's first stock index futures market will go through a remote, computerised system, with no floor trading, the country's financial derivatives exchange said in draft rules published yesterday. China's existing stock and futures exchanges all have floorReuters - 293 words
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Article, Illustration56 2006-10-24 14 [HONG KONG] A man stands in front of a painting by Chinese painter Zhang Xiaogang entitled 'Boy in Pink'(centre), during a Christie's auction preview in Hong Kong yesterday. The painting will sell at an auction in Hong Kong on November 26. and is estimated to be valuedAP - 56 words
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379 2006-10-24 14 It will exercise over-allotment options in Shanghai and HK Reuters [SHANGHAI] Industrial and Commercial Bank of China (ICBC) is set to raise US$2l.9 billion in the world's largest initial public offering after it said yesterday it would exercise a 15 perReuters - 379 words
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173 2006-10-24 14 AFP [BEIJING] China's central bank has warned non-per-forming loans remain a "huge and difficult" challenge, state media said yesterday, as the nation's largest lender completes the world's biggest share sale. "The foundation for sound asset quality still isn't solid," central bank deputy governor WuAFP - 173 words
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Page 14 Advertisements
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Advertisement11 2006-10-24 14 Create greater transparency for your company by advertising your financial results11 words
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INDIA
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Article, Illustration595 2006-10-24 15 Its salaries in India up 18% from July 1; programmers' pay in US, UK up 6% Bloomberg [MUMBAI] Satyam Computer Services Ltd, India's fourth-largest software company with the highest rate of employee defections to rivals such as IBM and Wipro, said pay increases haveBloomberg - 595 words
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379 2006-10-24 15 It will take one-third stake for 2.07b rupees Reuters [MUMBAI] French bank BNP Paribas is paying 2.07 billion rupees (5571.8 million) for a one-third stake in Indian brokerage Geojit Financial Services Ltd to expand in the country's fastgrowing market. Shares in Geojit jumpedReuters - 379 words
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235 2006-10-24 15 Bloomberg [SEOUL] Videocon industries Ltd of India and its bidding partner have agreed to buy South Korea's Daewoo Electronics Corp for 700 billion won (Ssl.l billion), creditor Woori Bank said. Videocon, which is based in Aurangabad in Maharasthra state, and an affiliate ofBloomberg - 235 words
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480 2006-10-24 15 SIDDHARTH SRIVASTAVA - By SIDDHARTH SRIVASTAVA in New Delhi INDIAN Commerce Minister Kamal Nath has hailed the US$B.l billion acquisition of Anglo-Dutch steelmaker Corus by Tata Steel. The minister has said that the deal highlights the growing strength of Indian industry to launch bids and complete480 words
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453 2006-10-24 15 [MUMBAI] With mergers and acquisitions (M&A) topping US$26 billion so far in 2006, investment bankers who charge at least 1.5 per cent of the deal size as fees have earned upwards of US$39O million during the period, according to453 words
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Page 15 Advertisements
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Advertisement20 2006-10-24 15 SCORE CARD Keep your investors your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. SiTThr';' WATS20 words
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Advertisement43 2006-10-24 15 I lllilllllllllllllllllllllll I ********** l I v v VI -^H^B S! jSmZI I I B f ■■krPh i[: Exclusively on^ ay Fnday B II ,a<, i0913 i iiiiiiiiiiiiii iiniiiirii Radio 91.3 is managed by SPH Unionworks, a subsidiary of wtm Singapore Press Holdings43 words
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MIDDLE-EAST
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603 2006-10-24 16 CLARENCE MICHAEL - All offerings oversubscribed as investor demand outstrips supply By CLARENCE MICHAEL in Dubai DESPITE bearish market trends, the total amount of money raised through initial public offerings (IPOs) in the Gulf region is expected to cross US$B billion by year-end, sharply603 words
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229 2006-10-24 16 Bloomberg [JEDDAH] Saudi Arabia will cut oil shipments to Japan, its largest customer, for the first time in more than two years as it implements Opec's agreement to cut output. State oil company Saudi Aramco notified Japanese refiners,Bloomberg - 229 words
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Article, Illustration363 2006-10-24 16 Reuters [JOHANNESBURG] Gold Fields Ltd, the world's fourth-biggest gold producer, plans a secondary listing on the Dubai International Financial "Exchange by the end of October and may seek further listings in Asia to boost liquidity of its shares, the group said yesterday. The SouthReuters; FILE PHOTO - 363 words
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541 2006-10-24 16 HABIB SHAIKH - Official sees lack of professionalism, marketing skills By HABIB SHAIKH inJeddah THERE are substantial opportunities in Saudi Arabia for investment, partnerships, consultancy and know-how in small and medium enterprises (SMEs), which comprise more than 90 per cent of the kingdom's private sector business. Abdulrahman Rashed541 words
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491 2006-10-24 16 Bloomberg [DUßAl] Saudi Arabia, the world's biggest oil exporter, may shift the official peg of the riyal against the dollar this week, to strengthen the kingdom's currency, in a bid to boost relations with industrialised nations including the US, according toBloomberg - 491 words
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Page 16 Advertisements
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Advertisement159 2006-10-24 16 Diners Club Card ™//64i 6 0980 A World of Exclusive Privileges Treats Diners Club JSEWSmB m www.Jmers.com.sg International ELEVATE YOUR SENSES AT TOP OF THE'M' fAn all-new family-style set lunch where classic signatures from various regions of France are prepared with the finest ingredients and most authentic recipes. RITUS Revolving159 words
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Untitled
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419 2006-10-24 17 NYT [WASHINGTON] A senior State Department official apologised on Sunday night for saying that the United States has acted with "arrogance" and "stupidity" in its campaign in Iraq. The apology from Alberto Fernandez, director of the office of press and public diplomacyNYT - 419 words
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Article, Illustration772 2006-10-24 17 Goldman's US$2.6b investment pays off with ICBC now valued at US$l29b Bloomberg [LONDON] Goldman Sachs Group has managed to do in China what nobody on Wall Street has done anywhere: earn almost US$4 billion from a six-month-old investment. That, at least, is theBloomberg; AP - 772 words
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Article, Illustration382 2006-10-24 17 AP IDEARBORN, Michigan] Ford Motor Co's loss widened to US$5.B billion in the third quarter its largest in 14 years blaming the cost of its restructuring plan. The company also said it plans to restate its earnings for 2001 due toAP; REUTERS - 382 words
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Article, Illustration459 2006-10-24 17 Retail offer for third tranche of shares opens Reuters [CANBERRA] Japanese investors have been allocated about A 5435 million (Sssl9 million) of shares in top Australian phone company Telstra Corp Ltd as the retail offer for the third tranche of shares opened yesterday.Reuters; AP - 459 words
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515 2006-10-24 17 Reuters [SYDNEY] Australian insurer Promina Group Ltd agreed to a A 57.6 billion (559.07 billion) takeover by banking and insurance group Suncorp-Met-way Ltd that will create the country's secondlargest home and car insurer. Brisbane-based Suncorp said it expected to generate at least A 5225Reuters - 515 words
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AVIATION
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Article, Illustration495 2006-10-24 18 Airline says it's hedging over 89% of FY2007 budgeted needs Reuters [SYDNEY] Virgin Blue, Australia's second-biggest airline, said yesterday that it was taking steps to better manage its fuel costs, and was cautiously optimistic on its business outlook. The company has fuel hedgesReuters; AFP - 495 words
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386 2006-10-24 18 It will focus more on line maintenance [HONGKONG] China Aircraft Services Ltd (CASL), a joint venture owned by China National Aviation Corporation and Hutchison Whampoa, plans to expand its line maintenance business into India and the Middle East in the next few years386 words
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LOG BOOK
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88 2006-10-24 18 Bloomberg [DUBLIN] Ryanair Holdings pic, Europe's biggest discount airline, will cut jobs at Aer Lingus pic should a hostile 1.48 billion euro (552.9 billion) bid for its Irish rival succeed. Ryanair will reduce sales, catering and groundhandling staff to finance fareBloomberg - 88 words
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107 2006-10-24 18 Reuters [NEW YORK] Delta Air Lines Inc has asked a federal bankruptcy court for an extension of about three months to file a reorganisation plan, according to court documents filed last Friday. Delta, which has been operating under bankruptcy protection since September 2005, has askedReuters - 107 words
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127 2006-10-24 18 AFP [HARARE] Zimbabwe's cash-strapped national carrier, Air Zimbabwe, yesterday announced fare increases of up to 500 per cent on both international and domestic routes. A spokesman said the airline had no option but to implement the massive price hikes as a result of surgingAFP - 127 words
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Article, Illustration402 2006-10-24 18 Reuters [PALEMBANG, Indonesia] Airports on Indonesia's Sumatra island were shut or operating reduced services yesterday after rains failed to clear smoke from forest fires that cut visibility to just 200 metres, officials said. The haze has piled on extra misery for travellersReuters; REUTERS - 402 words
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206 2006-10-24 18 AFP [TOKYO] Japan's All Nippon Airways has teamed up with British-based InterContinental to form the largest international hotel operator in Japan, the two companies said yesterday. Intercontinental Hotels Group will invest £10 million (5529.5 million) for brand advertising and research. It will take aAFP - 206 words
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Article670 2006-10-24 18 On HWT tTA HKWT 1TP jjjj 5ZSCSniiP K958 0750 H fH iM? ggpg J TEW 1505 ,l 1 11 [hTIrf wwi WO T0W MiSl 1910 5J54g 0025 $11 i» 28$ i Ml588 0905 50T57 14?5 TH7/8 65 H1 Ss f§ 1 ll W® 31 m i670 words
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Page 18 Miscellaneous
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Miscellaneous239 2006-10-24 18 CRYPTIC CROSSWORD 1 Digital computer? (6) Support of French in Express? H 9 Man with influence is crimi--10 Reportedly go off bird (4) 11 Often rue wobbly figure (8) 111 12 Grand girl with ponytail's HHSBBHj 888 H| IB 13 Man perhaps, shortly saying 15 Lets Iran off showing guts239 words
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SHIPPING
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Article, Illustration578 2006-10-24 19 DONALD URQUHART - New locks will allow larger ships to pass through the waterway By DONALD URQUHART [SINGAPORE] Panamanian voters gave an overwhelming thumbs up for the U555.25 billion expansion of the 92-year old Panama Canal that will allow substantially larger ships to squeeze through the man-madeAFP - 578 words
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411 2006-10-24 19 Kuehne Nagel Q3 profit gains 22% Bloomberg [LONDON] Kuehne Nagel International AG, the world's biggest sea-freight forwarding company, said third-quarter profit rose 22 per cent because of rising demand for goods shipped across the world. Net income rose to 106.1 million Swiss francs (*****.2 million) from 86.7 million francs, chiefBloomberg - 411 words
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393 2006-10-24 19 Samsung Heavy will deliver between 2009 and 2010 Bloomberg [HONG KONG] Orient Overseas (International) Ltd, owner of Asia's eighthlargest container shipping line, have placed a US$477 million order for four vessels from Samsung Heavy Industries Co to expand its fleet. The ships, which canBloomberg - 393 words
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Article292 2006-10-24 19 SGX 000 Oct 23 S$ *1- Vol CH Offshore 0.39- iii ChuanHup 0.31 -0.01 2066 Cosco Corporation 1.83 -0.03 6818 CWT Distribution .0.56 -0.01 63 Ezra Hldgs .3.90 unch 271 Freight Links 0 07 unch 603 Grand Banks Yacht 0.86 unch 3 Jaya Holdings 1.39 -0.07 ***** K1292 words
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207 2006-10-24 19 AP [KUALA LUMPUR] A new Malaysian shipping hub will open next month to help international companies operating in the South-east Asian nation manufacture and export their products more efficiently, officials said yesterday. The Port Klang Free Zone in Malaysia's key western harbourAP - 207 words
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PORT SHOTS
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113 2006-10-24 19 Bloomberg [LONDON] Lloyd's of London is considering designating North Korea and the nearby region as risky, which might increase maritime insurance premiums in the Sea of Japan, the Nihon Keizai newspaper said. The 300-year-old UK reinsurance company has been thinking about makingBloomberg - 113 words
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108 2006-10-24 19 AFP [DHAKA] Ten people died and 50 were missing after an overcrowded ferry earring migrant workers home for the Muslim Eid al-Fitr festival hit a goods boat yesterday near the Bangladeshi capital, police said. "The launch (ferry) was overcrowded and we think aboutAFP - 108 words
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114 2006-10-24 19 Bloomberg [SINGAPORE] Rates for supertankers able to carry as much 1.2 million barrels of oil will fall further as Opec output cuts the number of cargoes available for shipment, Dahlman Rose Co said. The Middle Eastern members of the Organisation of Petroleum Exporting Countries willBloomberg - 114 words
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155 2006-10-24 19 Bloomberg [SINGAPORE] STX Shipbuilding Co, South Korea's seventh-largest shipyard, said it received an order worth 131.6 billion won (*****.1 million) to build three ships that carry chemical products from Formosa Plastics Marine Corp in Taiwan. The vessels, each Weighing 50,400 deadweight tons, willBloomberg - 155 words
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Page 19 Advertisements
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Advertisement39 2006-10-24 19 .'V IM r» 1 Mm Ml ■mmMM sa m.MI Get a Leading Edge Your sailing schedules get wider attention in The Business Times shipping pages Call Bernard Ong at 6319-1645 or Michael Chng at 6319-2062 .1 I Shipping times39 words
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EDITORIAL & OPINION
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498 2006-10-24 20 EDITORIAL FORMER Malaysian premier Mahathir Mohamad met his successor Abdullah Ahmad Badawi in closed-door "peace-talks" over the weekend to help resolve their differences. While nobody has the full transcript of their two-hour discussion, Dr Mahathir described the meeting as "worthwhile" in that it gave498 words
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Article, Illustration841 2006-10-24 20 YOGI AGGARWAL - THE BOTTOM LINE YOGI AGGARWAL HAS Tata Steel bitten off more than it can chew by taking over a much larger company? The question is inevitable on the face of its USss7.s6 billion bid for Corns Group pic, Britain's largest841 words
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Article, Illustration1318 2006-10-24 20 LEON HADAR - Individuals with roots in more than one nation and with wings to fly anywhere and anytime were 'the fruits of the new patterns in migration and mobility', writes one business reporter LEON HADAR Washington Correspondent DURING the height of the globalisation age inREUTERS - 1,318 words
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Article, Illustration930 2006-10-24 21 MATTHEW LYNN - Both financial hubs are losing competitiveness. That creates an opportunity for some other centre to mount a challenge MATTHEW LYNN Bloomberg OOKING to set up a new private equity or hedge fund? Wondering L where to stage an initial share sale? Or just looking aroundBloomberg; AP - 930 words
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1103 2006-10-24 21 WILLIAM LANGEWIESCHE - By WILLIAM LANGEWIESCHE THERE is no doubt that the acquisition of atomic weapons by North Korea is the worst development yet in the ongoing story of nuclear proliferation by upstart states. The regime in Pyongyang is arguably the spookiest in the world1,103 words
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Article768 2006-10-24 21 Tan Lye Huat - LETTERS TO THE EDITOR Tan Lye Huat CEO, HIM Governance I REFER to the article, 'Coup' at Robinson holds lessons for S'pore companies" (BT, Oct 20). Indeed many lessons can be drawn from the ousting of former Robinsons chairman Michael Wong Pakshong. The situation bodes well768 words
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120 2006-10-24 21 Tan Kok Tim - Tan Kok Tim Singapore THE thick haze over the past few days has affected everyone. Indonesia has issued instructions to their troops on the ground not to wait for central approval but to get out of their barracks to fight local fires. It120 words
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Page 21 Advertisements
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Advertisement104 2006-10-24 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletter&sph. com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind104 words
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FOCUS
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Article, Illustration1798 2006-10-24 22 Its bold business practices have spawned a slew of lawsuits alleging copyright violation and trademark infringement NYT Google attracts millions of Web users every day. And, increasingly, it's attracting the attention of plenty of lawyers, too. As Google has grown into the world's most popularNYT; BLOOMBERG - 1,798 words
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Page 22 Advertisements
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Advertisement17 2006-10-24 22 HAMMiM I^H^HjjH^nHH" -;.t4% m ;>■ j W VII Alii L kT j 111 J ft The Business Times17 words
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Article10132 2006-10-24 23 SGX MAINBOARD J* LM Vol latOnM Oh GrtM MM MCm Company Sale rang Hm» taw, lw» S«fcr CV HI s3 U I 5716 1s* Software 2.5 uncti 100 2.5 25 2 2.5 -101 UJ 21? 8T tecom —7 unch 382 7 7 7 75 *3 2.7 74 33.510,132 words
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Article5895 2006-10-24 24 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local chit In S$ In l>SS dy Ik yr dy %yt dy %yr Oct 20 hidn Ownq« Chtnq* Change Change ClMngg rKinge WuW into Preliminary ***** 01 92 02 60 0.1 12.0 UH Pretminary ***** QJ 9.8 0.4 9.3 0.4 15.4 tmcpe5,895 words
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Page 25 Advertisements
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Advertisement927 2006-10-24 25 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination DD LEADER RDM/ATW/BMN/TLB/NAN OCEAN JADE CAM/NFK/NOL/SAV loads Singapore. E./W. Malay,io, Indonesia loads E./W. Malaysia, Indonesia middle-east SERVICE UAH service Destination BLUE SKY DBI/ABU/DOH/BRN/DMM/KWT Destination JUPITER CHARM DBI/ABU/DOH/BRN/DMM/KWT STX PO TBN INC/BSN Loads Singapore, E./W. Malaysia, Indonesia Loads E. Malaysia, Indonesia OTHER SERVICES Tramping927 words
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Advertisement615 2006-10-24 25 p] PONGNAMA LINE VESSEL (EVHY SAT) VOY I SGP l HUG (HIT TERMINAL) YM MUMIAII 171 21/10 01/11 ORBITAL NIGMT 0741 04/11] 01/U VKsa (every sun) voy fsor hkg KOTA HAD MUNI HNI3W 21/10 02/11 KOTA HASH HAS43S 05/11 09/11 VHSa (EVERY SUN) VOY SGf HKG (WD TRY YOK KOK615 words
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Advertisement527 2006-10-24 25 vOOv WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobol.com Vtssa VOT MW HBGHT SM IK MAO SAV >Al OOF TAMISIS AF63I 3301 MS 6.4 M 25/10 20/11 29/11 03/12 07/12 OS/12 TAPIOU AL6I9 4001 MS 6.3 M 16/11 19/12 25/12 29/12 27/12 TOAS AH3S 4201 ms 6.4 M 09/12 01/01 10/01 14/01 19/01527 words
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Page 26 Advertisements
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Advertisement1188 2006-10-24 26 I VESSEL I VOY PKL I SIN I KARACHI I DXB BAB NHS DMAA BIK I KHOR~~| JOLLY Pa 1162 30/10 08/11 9/11 15/11 17/11 19/11 IRAN SHAHRYAR PCL 8166 01/11 02/11 11/11 14/11 15/11 21/11 23/11 25/11 IRAN SATTARI PCL 1164 OR/11 09/11 1»/11 21/11 22/11 28/1 1 30/111,188 words
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Advertisement691 2006-10-24 26 SidjifA WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS VESSEL VOT SW PJOANC tOLOWIO W. SHEVA OMgWO HOWMH BRIDGE 00S6W 17 OH IBOCT 21 00 24 OCT 2BOCT tOU PtIWHA rrwo93 24 OCT 25 on 21 OCT 3) on 04 MOV IWDIKA GAWOHI OIQftV 31691 words
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THE BUSINESS TIMES SHIPPING TIMES
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4525 2006-10-24 27 This ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Desfn Name Name Number Number SIN Desfn Name Name Number Number To DUNKIRK (DUK) 2117 France To ABIDJAN (ABJ) 2003 Cote D'lvoire 07/11 20/12 NGPL BOULARIBANK SP200 *****288 02/11 04/124,525 words
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PROPERTY
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Article, Illustration657 2006-10-24 28 Legislation in Philippines could be ready by late 2007, says APREA chief Reuters [HONG KONG] The Philippines might introduce listed property trusts next year, and Pakistan and China are also working towards launching the securities, which are catching on across Asia, according toReuters; FILE PHOTO - 657 words
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Article, Illustration1423 2006-10-24 28 JANICE DING - JANICE DING offers a vision of a bustling lifestyle enclave for HarbourFront in the next decade JANICE DING WHAT is the formula for creating a waterfront lifestyle magnet? Colourful retail shops facing a promenade that lines the waterfront, al fresco dining overlooking a marina, abundant leisure activitiesSource: Colliers International - 1,423 words
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