The Business Times, 10 May 2007

Lock icon This issue may only be viewed from the multimedia stations at NLB Libraries. See FAQ for more information.

Total Pages: 32
1 32 The Business Times
  • 20 1 THE BUSINESS TIMES Thursday, May 10,2007 A SINGAPORE PRESS HOLDINGS PUBLICATION MICA (P) 202/12/2006 SINGAPORE 85 cents online at http://business-times.asial.com.sg
    20 words
  • 652 1  -  US maintains top spot but emerging nations quickly catching up in competitiveness: report By DANIEL BUENAS [SINGAPORE] Singapore has overtaken Hong Kong to become the world's second most competitive country, according to the latest World Competitiveness Yearbook report published by Swiss business school IMD. Of
    652 words
  • 132 1 STI 3,452.72 (+13.51) ST INDEX FUTURES 3,450.00 (+16.00) SIMSCI 425.40 (+1.37) SIMSCI FUTURES 420.50 (+1.60) MARKETS Wednesday Change KLCOMP 1,350.84 -3.83 NIKKEI 225 17,748.12 +91.28 HANG SENG 20,844.78 +138.43 SET INDEX 706.29 JAKARTA COMP 2,037.98 +15.19 MANILA COMP 3,345.98 +12.03 SEOUL COMP 1,593.42 +10.77 SHENZHEN B 713.53 +32.96
    132 words
  • 729 1 DOW JONES INSIDER TRADING AP Reuters [HONG KONG] A recent newspaper profile of Michael Leung said that when the Hong Kong businessman got excited about a stock, he would call a family meeting with his mother, children, son-in-law and even
    AP; Reuters  -  729 words
  • Page 1 Advertisements
    • 32 1 LETTERS TO THE EDITOR Fixed deposits: Customers hit out at banks PAGE 21 LATEST ON US INTEREST RATES: Go to http://ww.busmesstimes.com.sg for the outcome of the latest Federal Open Market Committee meeting
      32 words
    • 23 1 a PROPERTY CityDev chairman on residential rentals ♦jj ART AUCTION Spring sales in New York off to USs2Bom start PAGE 17 8 l^llllllll^
      23 words
    • 44 1 ON THE MOVE HB Top criminal lawyer to leave Harry Elias page 11 v BizlT S'pore poised to lead in globalised economy. IBM chief PAGE 28 ■ki m Mk< nil ft $%bKziO9hHIHI• -v JP ln>> x B? |^H -tl I II i «<*»»«— I I
      44 words

  • TOP STORIES
    • 699 2  -  Review whether new thrusts are easily copied By DANIEL BUENAS [SINGAPORE] Singapore needs to consider whether its recent moves into life sciences and other new fields will give it a real "creative advantage" over regional competitors in becoming an innovationdriven
      YEN MENG JIIN  -  699 words
    • 662 2  -  Bank chiefs optimistic for rest of year, cite strong economic growth By CONRAD TAN [SINGAPORE] THE combined profits of the three Singapore banks rose 29 per cent in the first quarter to $1.65 billion excluding one-time gains, boosted by strong loans growth and
      662 words
    • 558 4  -  Heng calls for better use of capital markets By MATTHEW PHAN [SINGAPORE] Asian businesses rely too much on financing by bank loan, even though the companies have been growing in size, complexity and competitiveness, Monetary Authority of Singapore managing director
      558 words
    • 476 2 SingTel plans tower shareholder payout SINGAPORE Telecommunications yesterday reported a 3.7 per cent fall in fourth-quarter underlying net profit amid sluggish markets at home and Australia. It proposed a total payout of $3.3 billion or 20.5 cents per share to shareholders, lower than last year's $4 billion distribution.
      476 words
    • 892 4  -  Dividend of 20.5 cents per share as full-year underlying net up 8% to $3.6b By SIOW LI SEN [SINGAPORE] Singapore Telecommunications yesterday reported a 3.7 per cent fall in quarterly underlying net profits amid sluggish markets at home and Australia. It proposed a total payout of
      892 words
    • 575 4 Reuters [HONG KONG] How many times have you been to China? The question now pops up in boardrooms, lounges and lecture halls around the globe and is increasingly being raised by businessmen, investors and Nobel laureate economists. Chinese ground-level access
      Reuters; FILE PHOTO  -  575 words
  • Page 2 Advertisements

  • Page 3 Advertisements
    • 64 3 We invest in top talent worldwide. i It's why we have such a strong track record in Independent Asset Managers ssr asset rn ans§srn 6 n t. E9^Bll^^&HO^H Bank Pictet &Cie (Asia) Ltd -.y^^r,— 80 Raffles Place 17-01 UOB Plaza 1 I L j Singapore *****4 Singapore 1 11— 1
      64 words

  • Page 4 Advertisements
    • 1902 4 POKKA CORPORATION (SINGAPORE) LIMITED (Company Registration No. *****0135E (Incorporated in Singapore with limited liability) NOTICE IS HEREBY GIVEN that the Annual General Meeting of Pokka Corporation (Singapore) Limited ("the Company") will be held at Room 80.V Level 8, NTUC Centre, 1 Marina Boulevard, Singapore *****9 on Friday, 25 m May
      1,902 words

  • Page 5 Advertisements
    • 381 5 r f I *^-'W J I /—X fx I I aW Infill Vl J I x x J* -I 1 Vl' I y m Ib^^lmH^l^H^^^^^^^H^HHHßßH i Wtf V P» A R T F O JBm v J:3,#« :fw^teF--.w" jhß* ,^^^^^^^^K*»3gliii?S%raPg|j i r rtAgjf««K. ,J1 w t^t-. ■wfrnr" pgfr s/fsL 1
      381 words

  • Page 6 Advertisements
    • 202 6 Prime Business Park Space Ready For Occupation «r J- -i The strategically locate'd Eightrium Changi Business Park is now ready to be the creative hub to work and play. Designed for the world of high-technology, research j™"* I |g| development and. knowledge-intensive industries, r I B I I I 11
      202 words
  • COMPANY NEWS
    • 689 6  -  HOCK LOCK SIEW By SIOW LI SEN ON MONDAY, DBS moved oneup on its rivals by setting up Singapore's first Islamic Bank, and with prominent Gulf investors as partners to boot. It should be lauded for its vision, especially when it
      689 words
    • 394 7  -  By CHRISTINE SIM HOTEL, spa and resort developer and manager Banyan Tree Holdings announced yesterday that it will not pass up on what it sees as an opportunity to become a price-maker in the growing global small luxury hotel market. The
      394 words
    • 336 7  -  Deal is group's first big rail contract in central Europe By MATTHEW PHAN SINGAPORE Technologies Engineering (ST Engg) has won a contract worth about $123 million to develop turnkey integrated systems for a commuter rail project in Turkey, its first major rail
      336 words
    • 213 7 YONGNAM Holdings has won a contract for civil and structural steelworks from Obayashi Corporation worth about $60 million. The works are for some 11 over-ground stations as part of the US$l.6 billion Dubai Metro project Red Line. The Dubai Metro project will link Rashidiya
      213 words
    • 441 9  -  Excluding insurance gain in Q2 2006, profit grew 48.3% to US$7.6m By LIN ZHAOWEI INFORMATION technology solutions and services company Datacraft Asia announced yesterday a fall in net profit in the second quarter ended March 31, despite revenue growing by 23.1
      441 words
    • 804 9 first-quarter net profit to $37.97 million, with total revenue rising 40.6 per centto $131 million. Fu Yu turns in $2.7m loss FU Yu Corporation has reported a loss of $2.7 million for the quarter ended March 31,2007, against a net profit of 17.8 million in the previous corresponding
      804 words
    • 388 9  -  By OH BOON PING ASTI Holdings has more than quadrupled its firstquarter revenue to $137.8 million due to the consolidation of subsidiaries ASA Group and Fl/extech in its financial statements. Without their contributions, turnover would be about $27 million down from
      388 words
    • 552 6  -  By CONRAD TAN OCBC Bank's net profit more than doubled to $647 million in the first quarter, boosted by strong revenue growth, better interest margins and one-time gains. The 103 per cent earnings jump included a $90 million gain from
      552 words
    • 408 6  -  By ANGELA TAN MAINBOARD-LISTED AEM Holdings, formerly known as AEM-Evertech Holdings, is helping the Corrupt Practices Investigation Bureau (CPIB) in an investigation. In a short statement to the Singapore Exchange (SGX) yesterday, it said that "the company is currently cooperating with investigation being conducted by
      408 words
    • 687 7  -  These include ensuring Perfect Field's 100MW capacity runs by Oct By TEH HOOI LING PERFECT Field Investment Inc, a Jilin-based maker of solar energy products which Rowsley is acquiring in a reverse takeover, will have to ensure that its 100megawatt production capacity is running by
      687 words

  • Page 7 Advertisements
    • 197 7 SINCAPORE IKTIT With control over your global market trades in FX, FX Options, CFDs, Futures and -a; Equities, our award-winning multi-product trading platform gives you: t j^H^ffißH||^^Hr m Real-time pricing, rapid execution and valuation of your holdings .'i. ife-' Unique customizable view- Multiple financial assets on one screen Comprehensive chart
      197 words

  • SINGAPORE MARKETS
    • 536 8  -  STOCKS Investors a little cautious in mixed trading ahead of US interest rates meeting R SIVANITHY Senior Correspondent A REBOUND in Hong Kong and a firm opening for Europe yesterday ensured the Straits Times Index avoided a third consecutive day of weakness, in a
      Source: Bloomberg  -  536 words
    • Article, Illustration
      946 8 SECURITIES TRADING SCOREBOARD MAIN SDQ TOTAL Up Down Undi Up Down Undi Up Down Undi Multi Ind 485 010 495 Manufacturing 82 66 66 14 11 22 77 88 Commerce 30 29 22 5 8 3 35 37 25 Tpt/5toriCowwns 22 15 8 2 1 0 24 16 8 Finance
      946 words
    • Article, Illustration
      940 8  -  Compiled by MATTHEW PHAN Yanlord Land May 9 dose: 552.75 CITIGROUP RESEARCH. May 8 INITIATE with "buy/low risk": Our 553.33 target price is based on Our forward 2008 net asset value (NAV). Our target price and 2007E dividend yield of 2 per cent imply a total return of
      Source: Bloomberg  -  940 words
    • 514 8  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar managed a degree of corrective bounce before the US central bank's latest thoughts on monetary policy due out later yesterday evening, but selected Asian favourite currencies re- mained stubbornly strong nonetheless. The Indonesian rupiah once again
      Source: Reuters  -  514 words

  • Page 9 Advertisements
    • 47 9 ML IB I r I f 1 1/ f H I m xf wk 1 t 1 Tid I .11 JS L lil ITI 1 I H 11 11 I II l I I 1 "1 K BHH ||K^. Bk. I JIIIIIVViiHHBHIHHHHIHHIIIIBMiM 111 111 1 11 Mim¥i3»T*w4?B^^yn?i!^l
      47 words

  • SINGAPORE INTERNATIONAL
    • 1318 10  -  SMU has started a course to help jump-start a career in commodities trading, which is facing a shortage of skilled traders, reports VINCENT WEE VINCENT WEE THE rise of Singapore was based on trade. Yet despite being the world's 16th-largest trading nation,
      1,318 words
    • 328 10 Interchem COO praises SMU's unique programme THE chief operating officer of chemicals trader Interchem, Roberto Dahlgren, is full of praise about the setting up of the SMU's International Trading Track. He believes that no other university anywhere offers such a curriculum, and he
      328 words
    • 526 10 FOR the students who signed up for the newly launched international trading track at SMU, it was a leap of faith. One of those students, third-year business management undergraduate Joy Ng, says: "Like many students, my knowledge about trading is extremely limited. Compared to banking
      526 words
  • Page 10 Advertisements
    • 85 10 —FOR THOSE AT THE PINNACLE OF THE GLOBAL f TRADING COMMUNITY SUMMIT The G oba Trader Summit 2007 (GTS 07) is an elite and exclusive conference for strategic idea generation and high-powered business 2007 networking with those at the pinnacle of international trading. Themed Sustaining Leadership in Global Trading, GTS
      85 words
    • 8 10 IH 5 ssssr The Business Times SINCAKMU Singapore
      8 words

  • SINGAPORE NEWS
    • 479 11  -  By RONNIE LIM THE Energy Market Authority (EMA) will be empowered to open the national gas pipeline grid here for use by all parties once the recently introduced Gas (Amendment) Bill is ratified as the amended Gas Act later this month, sources said.
      FILE PHOTO  -  479 words
    • 367 11  -  By CHARMIAN KOK MINISTER for Trade and Industry Lim Hng Kiang yesterday called for Asean to continue opening up services industries. In the opening address of the second Asean services forum "Raising the competitiveness of Asean services industry" yesterday, Mr Lim said: "In
      367 words
    • 164 11 Reuters IKUALA LUMPUR] Malaysian and Singapore leaders will go on a cruise next week for talks on new areas of cooperation including cross-border investments and tourism, Malaysia's foreign minister said yesterday. The two countries have deep economic ties, but
      Reuters  -  164 words
    • 322 11  -  By TETTYANA JASLI MAYBANK has introduced a new insurance scheme in response to a recent report that the average working Singaporean is badly un-der-insured. The existing estimated cover of $118,000 is just 2.8 times the average annual income of $42,427. The Life Insurance Association recommends
      322 words
    • 238 11  -  By SAMUEL EE COE premiums continued to rise strongly across the board yesterday, leaving some motor traders puzzled. "Most of the authorised distributors are doing only OK business and their showrooms have been relatively quiet," said the manager of one popular Japanese dealership.
      238 words
    • 370 11  -  High profile lawyer to lead criminal litigation team at KhattarWong By CHARMIAN KOK THE Harry Elias Partnership law firm yesterday said that veteran lawyer Subhas Anandan will be leaving the firm to join KhattarWong and Partners at the end of this month. Mr
      FILE PHOTO  -  370 words
  • Page 11 Advertisements
    • 313 11 q&a I Citi Private Bank Wealthy Families Need A Global Trusted Advisor TAN SU-SHAN Q How is Private Ranking changing? Q Who can benefit from your services? A Client needs are evolving as information becomes A Clients with a net worth in excess of US$ 10 million can globally available.
      313 words

  • ECONOMY WATCH
    • 129 12 Reuters [WASHINGTON] Maintenance problems with ageing oil refineries and strong global gasoline demand should push gasoline prices for American motorists slightly above US$3 per gallon this summer, the US Energy Information Administration (ELA) projected on Tuesday. During the US summer driving season,
      Reuters  -  129 words
    • 282 12 Purchasing, supply execs expect 5.6% mfg growth Reuters Bloomberg [NEW YORK] The US economy will grow in 2007, with the rate of growth in manufacturing outpacing that of the non-manufacturing sector, purchasing and supply management executives said on Tuesday. Manufacturing revenue is
      Reuters; Bloomberg  -  282 words
    • 495 12 Regulators should just monitor banks, brokerages that finance the funds Bloomberg [BRUSSELS] European Union finance ministers called for investors rather than regulators to oversee hedge funds, as Germany failed to budge the UK and other countries towards stricter controls on the investment vehicles.
      Bloomberg; BLOOMBERG  -  495 words
  • Page 12 Advertisements
    • 234 12 Diners Club Card r<>w»«.064i***** A WorlA of Exclusive Privileges Treats Diners Club www.Jmers.com.sg Emotional- "i-V, sS t W V v -if C HHMH BH$ m m .ISP® lfi»j*w wJkMi» I #*#l»*** ie W f v i^t< i ~r T Enjoy j AN EXCEPTIONAL MOTHER'S DAY MERITUS MANDARIN Let your precious
      234 words

  • MALAYSIA/INDONESIA
    • 386 13 President director also expects to raise market share from 3% to 5% Reuters [JAKARTA] Indonesian mobile phone operator, PT Mobile-8 Telecom Tbk, aims to more than double its revenue this year as it continues to expand its network and grab more customers, its
      Reuters; BLOOMBERG  -  386 words
    • 256 13 Reuters [KUALA LUMPUR] Shares in Malaysian telecommunications firm TlMEdotCom jumped 5 per cent yesterday on speculation that it could be in the takeover sights of the country's smallest mobile phone firm, DiGi.Com. Shares in TIMEdotCom's parent firm, Time Engineering Bhd, also rose.
      Reuters  -  256 words
    • BRIEFLY ASIA
      • 145 13 Reuters [MUMBAI] India's most populous state of Uttar Pradesh is headed for a hung legislature after a month-long vote, exit polls showed yesterday, with analysts fearing a period of uncertainty before an alliance is cobbled. The exit polls showed the Bahujan Samaj Party (BSP),
        Reuters  -  145 words
      • 182 13 Bernama [BOSTON] Government-linked companies (GLCs) should give business to both bumiputera and non-bumiputera companies, Malaysian Deputy Prime Minister Mohd Najib Tun Razak said on Tuesday. "The government's policy is that we want to encourage GLCs to give work to both bumiputera and
        Bernama  -  182 words
      • 113 13 Bloomberg [HONG KONG] Hutchison Telecommunications International Ltd, a mobile phone company controlled by billionaire Li Ka-shing, said it completed the sale of a 67 per cent stake in its Indian unit to Vodafone Group pic. The price was lowered by US$352 million from an earlier
        Bloomberg  -  113 words
    • 275 13 Reuters [JAKARTA] The Indonesian arm of Mitsubishi UFJ Financial Group is interested in buying another Indonesian bank after taking over PT Bank Nusantara Parahyangan Tbk, a newspaper reported yesterday. Bisnis Indonesia quoted a senior official at the Jakarta office of The Bank of
      Reuters  -  275 words
    • 2458 13 vol May 9 KM W- C000) AIM Realty -2.45 -004 289 Abrk Bhd .0.31 -0.01 24 Acp Industries .2.14 -0.06 204 Advance Synergy .0.34 unch 643 Adventa Bhd 1.27 -0.08 2097 Ae Multl Hldgs .0.34 -0.01 29 Affin Holdings .2.26 0.01 1600 Ahmad ZakiResou .2 97 0 02
      2,458 words
  • Page 13 Advertisements
    • 178 13 I i ill I n i ilnli il i i|i| iiii liiniln 1 Discover latest developments in Southeast Asia, China, India and the Middle East WBm Manage recruitment and talent retention challenges across borders jSb£ Gear up for export and overseas growth ft Build up firm-level capabilities |W5 Bpf Steer
      178 words

  • INDIA
    • 256 14 Poor countries get 25% savings with new prices Reuters [NEW YORK] Former United States president Bill Clinton announced deals with two Indian generic drug companies on Tuesday to cut prices of Aids treatments for 66 developing countries, a move that could help nearly
      Reuters  -  256 words
    • 321 14 It is in talks to pick an Indian partner as it speeds up expansion overseas AFP Bloomberg [MlLAN] Carrefour SA, the world's second largest retailer, is in talks with three to four potential Indian partners as it expands outside France to capture growth stronger than
      AFP; Bloomberg  -  321 words
    • 128 14 Reuters [MUMBAI] Rupert Murdoch's News Corp is in talks with India's Sun group, which operates the Sun TV Network Ltd, to launch a tabloid newspaper, the Business Standard reported yesterday, quoting unnamed sources. The English tabloid is likely to be
      Reuters  -  128 words
    • 316 14 But in Japan, volatile price deters investors Reuters [SINGAPORE] Purchases related to the wedding season in India, the world's largest gold consumer, have dominated gold trading in Asia this week but a volatile price curbed the appetite of Japanese investors. A firm rupiah
      Reuters  -  316 words
  • Page 14 Advertisements
    • 86 14 r s W> t X ..yvV y a !".i .-i < -&:M Kr i 'Js>, < t S I f v;U V "fi V VJ-'ST i:! y •%> A 1 C > v ■v vtf V-' •S./V V. v.-,' ■"> 7.., V -i-. 1 v V- v-.v. t wiL .*t
      86 words
    • 185 14 Our qualified professionals can assist you with offshore structures, shelf companies mj/MJ %r" and incorporations In ALL jurisdictions Including: British Virgin Islands Cayman Islands Bahamas Mauritius BBHHHHHH Hongkong Samoa Full nominee, management secretarial, banking and corporate administration services are available. We also specialize in offshore trusts for assets protection estate
      185 words

  • GREATER CHINA
    • 601 15  -  Govt move to black out addresses flouts law: activist By JANE MOIR in Hong Kong A REGISTER of cash donations from Hong Kong's major tycoons for the chief executive election has become the focus of controversy after the government took steps to
      601 words
    • 272 15 AFP [SHANGHAI] Chinese share prices closed up 1.6 per cent yesterday, breaking through the psychologically important 4,000-mark for the first time ever, dealers said. They said the sustained Chinese advance is being driven by massive inflows of fresh funds as smaller
      AFP  -  272 words
    • 366 15 Reuters [HONG KONGI Hong Kong's stock exchange, Asia's largest listed bourse, beat expectations to notch its eighth straight record quarter, thanks to a surge in equity and derivatives trading. But analysts said turnover growth is set to slow as Shanghai makes a grab
      Reuters  -  366 words
    • 589 15 Bid to lure foreign investors, stem loss of companies to regional bourses Bloomberg [TAIPEI] The Taiwan Stock Exchange plans to merge with the island's smaller bourse and futures market, creating a "one-stop service" in an attempt to draw overseas investors and stem
      Bloomberg; BLOOMBERG  -  589 words
  • Page 15 Advertisements
    • 48 15 i <unt»mh«f ?007 Tickets are non-reroutabk non-endorsaHe and applicable on TG 3 digits flights only. Tickets are valid tor 6 months from the date of travel. Prices exclude airport taxes, service fees, insurance Sm £££%'JT&TtISO™. pJrtM5, of $75 Fluent n»r n.**. .pphc*>l. to ROP o«h* torn, .nd con*,,™
      48 words

  • MIDDLE EAST
    • 426 16 It drafts urban planning drive for city's sustainable development Bloomberg [AßU DHABI] Abu Dhabi, the capital of the United Arab Emirates (UAE), will plan for the next several decades of development to avoid "cataclysmic growth", its urban planning chief said on Tuesday. The UAE's
      Bloomberg  -  426 words
    • 370 16 Iran reiterated it would not give up nuclear programme Reuters [BERLIN] Major powers were scheduled to discuss yesterday imposing tougher UN sanctions against Iran unless it halts uranium enrichment work the West suspects is part of a secret programme to build nuclear weapons. US
      Reuters  -  370 words
    • 2627 16 UNIT TRUSTS FUNDS ABAmefl/rameBUSD l« E7W5 Inw9 lit ton NC EUR WS.7K1U&72U laMBg U» »WKH»- r .ml WMMWA. «U» *****25/1 1 UMT1«S; iZStEE" -T ZZZI ISniM IB 11 i11M1 ABAmtr Income A EUR 64fc DWS Gtotsl A2 USO *****42/ K? 1 .«xi ?12/ 4 it MknumrtiaVt i 33 35rt 4002
      2,627 words
  • Page 16 Advertisements
    • 58 16 Allianz f FOR US, IT'S THE SILVERWARE IN i YOUR POCKET THAT MATTERS MOST. J ffiHHHF" As winn r Standard Poor's 2007 Singapore Fund Awards, we are naturally delighted. But not surprised. We're renowned for producing consistent returns for our clients. FRANKLIN TEMPLETON «roors* i> For more information, speak to
      58 words

  • ASIA-PACIFIC/WORLD
    • 671 17 DOW JONES INSIDER TRADING He's subject of internal Dow probe; federal regulators to examine his role NYT [NEW YORK] Federal regulators are expected to examine the role of a Dow Jones director in the possible leak of confidential information to
      NYT  -  671 words
    • 291 17 Reuters [NEW YORK] The spring art sales got off to an auspicious start on Tuesday when Sotheby's sold nearly US$2BO million worth of Impressionist and modern art, the second-best result in its history. Any doubt about the strength of the market
      Reuters; BLOOMBERG  -  291 words
    • 534 17 Reuters [SYDNEY] Shares in mining group Rio Tinto surged yesterday on talk that bigger rival BHP Billiton was planning a bid which would create the world's fifth biggest company, although Rio denied it had been approached. Talk swept Australian markets
      Reuters  -  534 words
    • 470 17 Reuters [NEW YORK] Citigroup Inc, the largest US bank, said on Tuesday it plans to commit US$5O billion to environmental projects over the next decade, the biggest commitment from Wall Street to address climate change. The amount includes nearly US$lO billion in activities that
      Reuters  -  470 words
    • WORLD WATCH
      • 134 17 Bloomberg [NEW YORK] Rupert Murdoch's News Corp said third-quarter profit gained 6.2 per cent, on the box-office success of Night at The Museum and increased revenue from Fox News. Net income rose to US$B7l million, or 27 cents a share. Sales rose
        Bloomberg  -  134 words
      • 108 17 Bloomberg [NEW YORK] Romeo Kreinberg and J Pedro Reinhard, the executives fired by Dow Chemical for holding unauthorised merger talks, sued the company and chief executive officer Andrew Liverisfor US$675 million. Mr Kreinberg seeks US$6OO million for defamation and wrongful termination, while Mr
        Bloomberg  -  108 words
      • 94 17 [NEW YORK] Harrah's Entertainment said on Tunesday that profit rose 1.6 per cent on increased wagering at its Las Vegas Strip properties such as Caesars Palace and the Paris. Q1 net income at the world's largest casino company rose to U*****.3 million, or 98
        94 words
      • 92 17 AP (DETROIT] General Motors on Tuesday joined the United States Climate Action Partnership, along with 13 other newcomers that included Dow Chemical and Pepsi Co. The partnership, which now has 27 members, is an alliance of big business and environmental groups that in January told President
        AP  -  92 words
      • 104 17 Marsh McLennon's Q1 gains slide 36% Bloomberg [NEW YORK] Marsh McLennan, the world's largest insurance broker, said first-quarter profit fell 36 per cent after its flagship unit lost US customers and the company reported lower gains from asset sales. Net income fell to US$26B million, or 47 cents a share.
        Bloomberg  -  104 words
    • 234 17 Bloomberg [LOS ANGELES] The Walt Disney Co's use of the Winnie the Pooh character in movies, books and other media is worth some US$l5 billion, according to an analysis commissioned by Stephen Slesinger, the publishing company that licenses the rights. The Winnie
      Bloomberg  -  234 words
  • Page 17 Advertisements
    • 186 17 Pthe world's fastest growing profession. According to career world "Hot Jobs in Teaching", ESL is one of the 3 areas with the most demand for teachers. I This is an Exciting Time For Certified Master English Teachers as jobs m ym advancement are many varied. There is a shortage of
      186 words

  • AVIATION
    • 410 18 Result was weaker than expected, dragging down half-year earnings to 8.26b baht Reuters [BANGKOK] Thai Airways International reported a 32 per cent fall in its second quarter net profit yesterday, slightly more than forecast, due mainly to smaller foreign exchange
      Reuters; REUTERS  -  410 words
    • 430 18 Bloomberg [SHANGHAI] China Southern Airlines Co, the nation's largest carrier, and other Chinese airlines narrowed their combined firstquarter loss with higher fuel surcharges and rising passenger numbers. The country's airlines had a combined loss of 820 million yuan (Ssl6l million) in the three
      Bloomberg  -  430 words
    • 226 18 [SINGAPORE] Aviation experts from the international civil aviation community have gathered here for the second meeting of the Singapore Aviation Academy's (SAA) International Advisory Council (lAC), which is being held today and tomorrow. Chaired by Raymond Lim, Minister for Transport and Second Minister for Foreign
      226 words
    • 302 18 Flyington won't go ahead with earlier Boeing plane order Reuters [MUMBAI] Flyington Freighters will not go ahead with an order of freight planes from Boeing after it signed a previously announced US$l billion order for six A330-200F cargo aircraft from Boeing archrival
      Reuters  -  302 words
    • 229 18 [SINGAPORE] Singapore Airlines has rolled out its Interline Electronic Ticketing (eTicketing) with Malaysia Airlines, enabling it to issue eTickets to all the destinations it serves to passengers of both airlines. The e-ticketing partnership was formalised on Tuesday at Malaysia Airlines' headquarters in Subang by
      229 words
    • 2380 18 cmr RJCMT ETA FUCHT CTD Ab. Dhabi SQ455 1230 5Q456 1300 Adelaide LH9771 1750 AF8068 2230 SO268 1750 BA7382 2230 AF8087 1820 Of82 2230 BA7381 1820 LH9770 2345 OF81 1820 SQ269 2345 -SOS 30 1930 Amsterdam L***** 0630 SQ7376 0755 SO323 0630 AZ3993 2245 AZ3992 1555
      2,380 words
  • Page 18 Miscellaneous
    • 161 18 CRYPTIC CROSSWORD authority (6) S|on (6) YESTERDAY'S SOLUTION DOWN 13 The Times is terribly bad, so A<xoss; Ha f jght( 8 Canoni 10 1 Take off on breeze here? (8) there! (10) Repeater, 11 Antler, 12 Sten, 13 2 If they're paid last, you're Air transport? (8) Boat race 15
      161 words

  • SHIPPING
    • 324 19 Unnamed Liberian buyer will pay US$139m for each vessel Bloomberg [SEOUL] Daewoo Shipbuilding Marine Engineering Co, the world's third-largest shipyard, won an order to build the world's most expensive oil tankers, ships three times the size of the Statue of Liberty for US$l39 million
      Bloomberg; BLOOMBERG  -  324 words
    • 304 19 Bloomberg [MELBOURNE] Ivernia Inc, which supplied 3 per cent of the world's lead prior to having exports from the Australian port of Esperance suspended in March, will apply this month to ship the material from Australia's Fremantle port. The company is also continuing
      Bloomberg  -  304 words
    • 113 19 Bloomberg [COPENHAGEN] AP Moeller-Maersk, the world's biggest shipping company, will add a route between China and Spain as it changes offerings amid more competition. Maersk will start the route on May 28 using seven ships, each with a capacity of 4,000 twenty-foot containers, it said yesterday.
      Bloomberg  -  113 words
    • 237 19 Bloomberg [TOKYO] Nippon Yusen KK, Japan's largest shipping line, has signed a 40 billion yen (Ssso6 million), 20year contract with Cia Vale do Rio Doce to carry iron ore from Brazil to China as it seeks long-term deals to lock in higher
      Bloomberg  -  237 words
    • 201 19 Bernama [KUALA LUMPUR] Malaysia has not asked countries using the busy Straits of Malacca to contribute to the cost of maintaining security in the waterway although Kuala Lumpur has to fork out a large sum of money for that purpose, Foreign Ministry
      Bernama  -  201 words
  • Page 19 Advertisements
    • 210 19 m IWI t HOW »pwwri*i w 1 *J*i c wl v Mtuvauw I V«/n\vflpA X —A■«( > ntwi MOTHER'S DAY SPECIAL! Mums, come for our Mother's Day hotel high tea-cum-talk on Saturday, May 19! Listen to exp>erts from Mind Champs, Protocol Academy, Rustic Nirvana and Sopexa, while enjoying a lavish
      210 words
    • 43 19 11 TUNE IN TO RADIOIOO.3 NOW and stand to win g 5 Sony Ericsson WBBOI Walkman Phones j§ plus Cash^ To participate, SMS "1003" to YOUR CHOICE INFOTAINMENT STATION Radio 100.3 is managed by SPH Unionworks, a subsidiary Of wKm Singapore Press Holdings
      43 words
    • 39 19 GETAWAYS Log on to our website wvAv.suterahorbour.com to choose your escape arid be in the running to win fabulous prizes Golfer's Paradise Package Golf Spa Breakaway Package Catch us at Soothing Spa Package Fascinating Malaysia Tourism Exhibition Ladies Escapade
      39 words

  • EDITORIAL & OPINION
    • 520 20 EDITORIAL IS Asia just too big for the Asian Development Bank (ADB) to handle? Increasingly, it would seem so. The intense difficulty for one single institution in catering to all the region's needs became apparent during the ADB's latest annual meeting in
      520 words
    • 761 20  -  THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group IT sometimes seems that almost everything Americans buy comes from China. This is, of course, a myth. In 2006, imports from China totalled US$2BB billion, about 16 per cent of all US imports
      The Washington Post Writers Group  -  761 words
    • 1409 21  -  Protectionism won't work so the US needs to focus more on science and engineering, and spend more on R&D By ALAN S BLINDER The Washington Post I AM a free trader down to my toes. Always have been. Yet lately, I'm being treated as a
      The Washington Post; FILE PHOTO  -  1,409 words
    • 404 21  -  LETTERS TO THE EDITOR Leong Sze Hian I REFER to the Association of Banks in Singapore (ABS) statement to the media on fixed deposit (FD) rates. It states that "from time to time, banks offer promotional rates for a limited time to attract new funds.
      404 words
    • 236 21  -  Puah Neo Peng Chiew THE Consumer Association of Singapore (CASE) has recently come out strongly against the reprehensible practice of local banks short-chang-ing their loyal fixed deposit (FD) customers by not offering the best rates when FDs are auto-renewed. CASE said at
      236 words
    • 1308 20  -  The Iraq War and soaring oil prices, among other things, are producing an electoral backlash LEON HADAR Washington Correspondent IN 1968 a young Republican Party strategist, Kevin Phillips, helped engineer the presidential election victory of his party's nominee, Richard Nixon. Indeed, that year's electoral
      REUTERS  -  1,308 words

  • Page 21 Advertisements
    • 103 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 mind libel
      103 words
    • 1610 21 CATS NOTICES In the matter of The Companies Act, Cap. 50 And In the Matter of MEGARAM PTE LTD (Company No. *****2678Z) STATUTORY DECLARATION BY DIRECTORS Of COMPANY'S INABILITY TO CONTINUE BUSINESS BY REASON Of ITS LIABILITIES I, BAJ GUOBAO of 4 Corporation Rise Singopore *****8, NRIC No. *****331F, main
      1,610 words

  • 10739 22 SGX MAINBOARD Transaction date: May 9 52WV Tel Last Vol Day Last Quote Mr GrVM Net MCap High Low Code Company Sale +<- fOOD) High Low Hyer SeMef Cvr rri Smi 3-5 2 5716 1st Software .2 susp >1 15 6 3148 STelecom 12.5 unch 1190 12.5 12.5
    10,739 words
  • Page 22 Advertisements
    • 105 22 j "'pw? &J i'\ *'i, r *-M'*>'i Not been making the most of the marketsf Then it's time to trade CFDs with City Index Asia. Trade multiple maxteti from Trade tong or »hort on market one account price* Manage your risk with stop loaae* and Trade *ocka,ETFaa»dfa>dioea from other order
      105 words

  • 7542 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In SS In USS dy yr dy Syr dy Syr May 8 Inden Change Change Change Change Change Change World Index Preliminary 1170.5 -0.6 63 -0.5 6.1 -0.8 7.4 t EAFE Preliminary 1179.8 -0.7 6.5 -0.8 6.9 -1.1 8.2 Europe
    7,542 words

  • Page 24 Advertisements
    • 1934 24 UK CONTINENT SERVICE U.SJk SERVICE Destination Destination NIPHA NAREE RDM/ATW/BMNALB/NAN AURORA SAPPHIRE CAM/NFK/NOL/SAV Loads Singapore, E./W. Malaysia, Indonesia loads E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE F.EJS.EA. SERVICE Destination Destination PAN VOYAGER DBI/ABU/DOH/BRN/DMM/KWT STXPO TBN INC/BSN PAN BRIGHT JDH/BJA loads Singapore, E./W. Maloyrio, Indonesia loads E. Molaysia, Indonesia OTHER SERVICES Tramping for
      1,934 words
    • 425 24 vtf/v WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobal.com vcsa VOT RAMP HB6HT SM UC MAO SAY Ml 0» TOORCOWG AL7O4 4001 MS 6.3R1 22/05 ONT 23/0* 30/0* 02/07 IARONGA Af 716 3201 MS 6JSRI 29/05 21/06 30/06 OS/07 09/07 07/07 TUKSIS AF7I7 3201 MS 6.4R1 07/06 02/07 11/07 15/07 20/07 10/07 New
      425 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 6774 25 This ETA ETA Advertiser Vessel Voyage Telephone SIN Dest'n Name Name Number Number V > To ABU DHABI (AUH) 2004 U. A. Emirates 19/05 30/05 SCI SCIDIYA 714W *****355 28/05 08/06 SCI EMIRATES KANAKO 720W *****355 To ADELAIDE (ADL) 2007 Australia 20/05 08/06 China
      6,774 words
  • Page 25 Advertisements
    • 1364 25 WAN HAI INTERNATIONAL PTE LTD at NO: **********0/R V: rA uiiu A iiiiPH TIL *****588 (14LINES) FAX:*****163 \\\MNIAIAM HAI I INF> CustMßWSwYta/BootoigsDlr«dUm-(1800)*****200 ll V tfflll llnl n0.TH;(03)*****8*1FAX;(03)*****2UNN ItL (04)2245W0 FUL (04J*****W V" WWII——MW—I npMMMNMWW MM www wonhni nm *TIB:(O2I)S2S4mHUfc(O2I)S2S«7»»PIMIH:7IUIO/7Ul»l M171U71 www.wgnnai.tgm.ig »1H;W61)4l57»«iW)H06l)«15»WS/«mW I voy I p« I na rcu sw
      1,364 words
    • 995 25 VISSIL VOY PKI SIN I KHI DXB BAB DMM BIK KHO WAN TABATABAEI PCLSI9B IS/05 17/05 26/05 29/05 30/05 05/06 07/06 09/06 IRAN BAASAfI PCUI99 24/05 25/05 03/06 06/06 07/06 13/06 15/06 17/06 WAN SATTARI PCLB2OO 31/05 01/06 10/06 13/06 14/06 20/06 22/06 24/06 VISStI. VOY SIN NHS BNP DXB
      995 words
    • 9 25 PLACEa^A^^B YOUR AD m M Shippin^^l CALL MICHAEL BERNARD
      9 words
    • 733 25 m ssassw WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS Vtssa 1 WY I SBI I HUANG COLOMBO N SHtVA I COLOMtO howmhh am is mT it may 19 may am VW m m MM) MW OUT 01 Jim 05 JDK AAJff GMBH 0114W 29MAY
      733 words


  • BizIT
    • 20 27 "This will enable us to create consistent solutions utilising global best practices' —Stephen Yeo, EDS Asia's vice-president of strategic initiatives
      20 words
    • 812 27  -  It will also set up its regional deal support centre in Singapore, reports AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY IN A vote of confidence for Singapore, leading IT services company EDS has decided to set up its consolidated Asia headquarters, as well as its regional
      812 words
    • 206 27 Bloomberg [SAN FRANCISCO] Yahoo! Inc. owner of the most-Visited US website, will close its online auctions site in the US after it failed to match the popularity of eßay Inc. The site will stop taking listings on June 3 and the last
      Bloomberg  -  206 words
    • 467 28  -  It is well positioned for leadership in globally integrated economy, he says By ROLAND LIM SINGAPORE has managed to differentiate itself in the increasingly globalised economy and is well-placed to lead in it, according to the chief executive of technology behemoth IBM. Speaking to
      LAU KENG SENG GARY/LIANHE ZAOBAO  -  467 words
    • 656 28  -  By WINSTON CHAI in Shanghai COMPUTER giant HewlettPackard (HP) is hoping to take pole position in the notebook segment in the Far East with an onslaught of 13 new products for this year, including a massive 20.1-inch consumer laptop aptly named
      656 words
    • 693 28 Bloomberg [TAIPEI] Acer Inc said that it would become the world's second-largest notebook computer maker this year, overtaking Dell Inc, on new models sold in the US. its fastest-growing market. "We are quite optimistic about the
      Bloomberg  -  693 words
    • 493 28 Reuters [BOSTON] Red Hat Inc and IBM have formed a partnership to develop, sell and support Red Hat's Linux software for IBM's mainframe computers, people familiar with the arrangement said on Tuesday. The agreement, which the companies plan to announce
      Reuters  -  493 words
    • 438 28 Reuters [SAN FRANCISCO] Intel Corp is set to launch new hardware for laptop computers that the world's biggest chipmaker hopes will keep it at the top of the fast-est-growing segment of the personal computer market. Intel's new product is not
      Reuters  -  438 words
  • Page 27 Advertisements


  • PROPERTY
    • 463 29 Metropolitan Transportation Authority hopes to get top price for 10.5 ha site Reuters [NEW YORK] New York's mass transit agency on Tuesday said it will soon seek developers for a vast 10.5 ha Manhattan rail yard, hoping to get a top price
      Reuters; AP  -  463 words
    • 335 29 AP [NEW YORK] A US trade organisation for real estate agents is lowering its expectations for the housing market this year to reflect stricter lending standards and the decline in mortgage originations to borrowers with poor credit. The National Association
      AP  -  335 words
    • 274 29 AFP [LONDON] Britain's capital beat the glamour of Monaco, New York, Hong Kong and Tokyo to become the world's most expensive place to buy prime residential property, a survey showed on Tuesday. Prime residential property in the British capital costs on average £2,300 (556,900) per
      AFP  -  274 words
    • 365 30  -  Companies turning to business parks as CBD office space supply tightens By UMA SHANKARI PROPERTY group Soilbuild said yesterday its eight-sto-rey Eightrium Changi Business Park is ready for occupation, having been granted a temporary occupation permit (TOP) three months ahead of schedule. BT understands that
      FILE PHOTO  -  365 words
    • 358 30 Bloomberg [HONG KONG] Club Mediterranee SA, Europe's largest resort company, is seeking sites to build resorts in China, India. Cambodia and Laos in Asia, its fastestgrowing market, Caroline Puechoultres, regional chief executive, said. "We've doubled the market in South-east Asia since about two
      Bloomberg; FILE PHOTO  -  358 words
    • 836 31  -  CityDev chairman plans to keep some units in new residential projects By KALPANA RASHIWALA KWEK Leng Beng is so confident about the ongoing property bull market that he's considering retaining a portion in some new residential developments for rental income and capital appreciation. "We'll do
      FILE PHOTO  -  836 words
    • 1360 31 PROIECTNAME/ PROP CONTRACT TENURE BUILT-IN AAEA PRICE PSF PROJECT NAME/ PROP CONTRACT TENURE BUtfT-INAHA PRICE ?SF PROIECT NAME/ PlttP CDNTHACT TENURE BUD-IN AREA PRICE PSf STMT NAME TYPE DATE fSQFT) (S>000) (St) STKEETNAMi TYPE DAJE 6QFT) (SSXDO SI) STgP
      1,360 words
  • Page 29 Advertisements
    • 111 29 1100 Lower Delta Road Fully refurbished 4 storey industrial cum office building 5 mins drive to financial district expressways fl| Fully leased |H| Land area of 48,599 sf Gross floor area of 103,624 sf Lettable area of 86,000 sf Long term leaseback Prime Freehold Residential Redevelopment Site Near Newton MRT
      111 words
    • 312 29 r prime city centre location SpCCtf PH 1 high specification Ift 2 bedroom apartments J full property management 6t lettings service I available from 8% plus VAT *yJ| secure underground parking at £22,500 f average return of 45% p.a 250 year lease centrally located between proposed site of J I
      312 words

  • Page 30 Advertisements
    • 342 30 PACIFIC c rjfi.r.k-*,-*. 'W;,* 1 .»ifrHPte»3»'-.-S»M irXE .«£s£i3BnsMSwlßl9nßHHil^^^HH^^^^^^^^^^^^^H "s**»* iv JK Sy v "'fe%/f| «i c v *'t^ u **:^]^^Mrawfii^^^^Bl'^'' y -•'■>■'•,>'-.?• ,^Sti^^Bß^^^HSf, gi^^^^CT™BHS -vv?.* f 'i^ti South Lake Villa COLLECTIVE SALE ■HHIHiH Robey Crescent I -Kovan Vicinity up to 5 storey Area *****sqft For a limited time only, Performance
      342 words

  • Page 31 Advertisements
    • 211 31 Prime Residential Redevelopment Site at Dist 10 For Sale by Expression of Interest vngpon TZjZ City Towers at Bukit Tlmah Road ChintN Girlj' Pri Sfh Chine* Sch JES*/ Freehold area 9 i.3sq m j C CB C 104,53"! sq ft) MP 2003 "Residential" at Plot ratio 2.1 a sh#ratoß M
      211 words