The Business Times, 29 May 2007

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Total Pages: 40
1 40 The Business Times
  • 20 1 THE BUSINESS TIMES Tuesday, May 29,2007 online at http://business-times.asial.com.sg A SINGAPORE PRESS HOLDINGS PUBUCATION MICA (P) 202/12/2006 SINGAPORE 85 c6rts>
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  • 1016 1  -  But big caps have the highest weighted average TSR over three, five and ten years By DANIEL BUENAS [SINGAPORE] Singapore's largest companies give the best returns in the long run, but new figures show that mid-cap firms were last year's most outstanding
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  • 46 1 STI 3,***** (+26.74) ST INDEX FUTURES 3,513.00 (+26.00) SIMSCI ***** (+2.83) SIMSCI FUTURES 434.10 (+3.70) PRIME RATES SINGAPORE 5.33 MALAYSIA 6.74 HONG KONG 7.75 INDONESIA 14.114 TAIWAN 5.926 JAPAN 1.875 KOREA 9.33 BRITAIN 5.50 US 8.25 CANADA 6.00 SWITZERLAND 4.07 INDIA 12.75 Source: Bloomberg
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  • Page 1 Advertisements
    • 42 1 PROFILE Indonesian businessman BfW KrisWiluan PAGE 29 8 II A consistent track record page 15 Billion dollar club gets bigger page 16 Full ranking pages 18 19 I > >-• (L. in i HimJn SME SPOTLIGHT Seeking new horizons in luxury travel page 14
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    • 9 1 COMPANIES Olam raises bid for Queensland Cotton PAGE 7
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    • 49 1 Arts Fest UNSW EDB moves to help students PAGE 10 PROPERTY «x Horizon Towers dispute goes before mediation 1 today page 2 1 MCL Land is top bidder for Nob Hill Condo, 2 bungalows PAGE 40 T Carlton group tops bids for hotel site PAGE 40 JLs-, I)HHB^B Jiff
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  • TOP STORIES
    • 738 2  -  Some owners want to remove sales committee By SIOW LI SEN [SINGAPORE] A mediation hearing before the Strata Titles Board opens today, with the task of trying to bring together warring neighbours who have sold their apartments at Horizon Towers
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    • 364 2  -  Firm to lead int'l group in pumping US$450m equity into the venture By ARTHUR SIM [SINGAPORE] Wing Tai Holdings will lead a multinational consortium to invest in and develop real estate in China worth approximately US$l billion. In a statement yesterday,
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    • 664 2 RBS to reveal today if bid forABN Amro is on A EUROPEAN banking consortium led by the Royal Bank of Scotland is due to reveal today if it would launch a formal bid for ABN Amro in what would represent the biggest-ever banking acquisition. The grouping, which also
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    • 209 4 Bernama [SINGAPORE] Malaysian Deputy Prime Minister Najib Tun Razak arrived in Singapore yesterday evening at the head of a highpowered government delegation for a roadshow to promote Malaysia. Mr Najib is scheduled to meet some 50 fund managers today as well as corporate
      Bernama  -  209 words
    • 666 4  -  It opens new global private banking HQ in Singapore By CONRAD TAN [SINGAPORE] Standard Chartered Bank yesterday opened its new global private banking headquarters in Singapore, marking the bank's re-entry into the niche market after more than a decade. Despite Stanchart being relatively late in
      ARTHUR LEE  -  666 words
    • 366 4 BID FOR ABN AMRO A consortium led by RBS is due to reveal today whether it will launch a formal bid AFP Reuters [LONDON] The bidding war for Dutch banking group ABN AMRO, which has pitted Britain's Royal Bank of Scotland
      AFP; Reuters  -  366 words
  • Page 2 Advertisements
    • 529 2 Equity Derivatives Equity investments beyond the share certificate Dates Equity investments nowadays constitute more than a mere purchase and sale 5-6 July 2007 of a single stock/share. With globalisation and demutualisation, the doors are now open for new investment and hedging avenues in equity. This highly Time i nteract >
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    • 5 2 people No mountain high enough.
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  • Page 3 Advertisements
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  • Page 4 Advertisements
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    • 82 4 I THE MONETARY AUTHORITY OF SINGAPORE I Tenor Approximately 10 years Total Amount Allotted SGD 1,300,000,000 i fijfcSrEsi I Amount Allotted to Non-Competitive Applications SGD 54,857,000 Of which allotted to MAS Nil Total Amount Applied SGD 2,205,079,000 Coupon Rate 3.750% p.a. Cut-off Yield Price 2.80% p.a. and on Allotment 108.629%
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    • 40 4 Irqllite" rwmjjddsn The Control of Heat and Light www.ronite.com wCMET I W LISTEN OUT FOR FINANCIAL RESULTS ANNOUNCEMENT Find out more about a company's financial performance through CATS Notices in The Straits Times. [•i AT>i VSfe NOTICES -4*"' 5 U
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  • Page 5 Advertisements
    • 143 5 ORCHARD iSCOTTS RESIDENCES SINGAPORE v ***'-> *m -V/*" pr f*s*' ff 1 i 1 W J 4 1 a j j**:• *T SeA-H A GREAT WAY TO LIVE Welcome to Orchard Scotts Residences, I where you'll experience the very best jjpii f services and facilities that only the world's f
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  • SINGAPORE MARKETS
    • 531 6  -  STOCKS Large-cap interest sticks mainly to index components as traders exercise caution in HK, China markets R SIVANITHY Senior Correspondent WITH a nervous eye cast in the direction of Hong Kong and China, traders yesterday pushed the Straits Times Index up 26.74 points to
      Source: Bloomberg  -  531 words
    • Article, Illustration
      917 6 SECURITIES TRADING SCOREBOARD MAIN SIX) TOTAl Up Down Uitch Up powi Undi Up Down Unch Multilnd 12 4 1 0 1 0 12 5 1 Manufacturing 68 67 69 15 16 _16 83 83 85 Commerce 40 25 16 10 2 6 50 27 22 Tpt/Stor/Comms 21 10" 13 2
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    • Article, Illustration
      947 6  -  Compiled by UMA SHANKARI Neptune Orient Lines May 28 close: $4.38 ÜBS INVESTMENT RESEARCH. May 25 VALUABLE port assets warrant recognition: We upgrade NOL from "neutral" to "buy" as we now include its port assets ($1.57/ share) in our valuation. NOL's US west coast terminals appear to be
      Source: Bloomberg  -  947 words
    • 539 6 Reuters [LONDON] The dollar traded tightly near a six-week peak against the euro and a three-month high versus the yen yesterday as markets concluded that last Friday's weak US housing data did little to shore up receding expectations of a Federal Reserve interest rate
      Reuters; BLOOMBERG  -  539 words

  • COMPANY NEWS
    • 632 7  -  HOCK LOCK SIEW By VEN SREENIVASAN AS WARREN Buffett once observed, the trick to investing successfully is to spot winners early enough in the game, then enjoy the ride. In the case of Singapore, many of these "winners" tend to be companies with a
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    • 435 7  -  By VEN SREENIVASAN BOOSTED by a one-time gain, crane specialist Tat Hong Holdings yesterday announced its sixth consecutive year of high growth, with group net profit surging 78 per cent to a record $78.96 million. The one-off gain of 3 2.6 million
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    • 414 7  -  Aussie company's board recommends Olam offer which topped Dreyfus bid By CONRAD TAN OLAM International has raised its cash offer for Queensland Cotton by 19 per cent to A 55.65 a share, topping an earlier A 55.31 offer by rival bidder
      BLOOMBERG  -  414 words
    • 525 8  -  $122m deal being financed by 70-80% debt and the rest from within group By DONALD URQUHART CALLING it a "defining moment" for mainboard-listed oil services company KS Energy Services, Indonesian tycoon Kris Wiluan announced yesterday the acquisition of Oslo-listed Atlantic Oilfield Services (AOS) for $122
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    • 488 8  - China Milk's full-year profit up 41.1 By LIN ZHAOWEI STRONG sales growth in China Milk Products Group's three product segments pushed its net profit up 41.1 per cent for the year ended March 31, 2007. The group's bottom line increased from 268.2 million yuan (5553.6 million) to 378.5 million yuan,
      FILE PHOTO  -  488 words
    • 377 8  -  By CHARMIAN KOK POTATO-starch producer China Essence Group yesterday reported a 22 per cent rise in net profit to 147.1 million yuan (5529.4 million) for the year ended March 31. The earnings rise came on the back of a 35 per cent jump in revenue
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    • 338 8  -  By JANICE HENG HONG KONG based Singapore Windsor Holdings yesterday reported a 19.3 per cent growth in net profit to HK$29 million (555.7 million), for the year ended March 31, 2007. Windsor also announced the acquisition of Taiwan 3D-Circuit Industrial Co Ltd, which develops,
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    • 500 8  -  By LYNETTE KHOO MEGHMANI Organics, an Indian-based producer of pigments and agrochemicals. said it expects to achieve 20 per cent growth in earnings for the year ending March 31, 2008, as it capitalises on the growth of its existing customers and
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    • 373 9 Dubai firm in bid for Pan-United Marine DUBAI Drydocks World LLC (DD World), a recently-launched maritime holding company and a member of Dubai World, has made a voluntary conditional cash offer for Pan-United Marine (PUM) at $2.38 a share. DD World has received irrevocable undertakings from the controlling
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    • 330 9  -  He offers US$2.35 cash per share for the 26.6% of stock he doesn't control By TEH HOOI LING FOOD and beverage company Want Want Holdings yesterday said that it has received a formal proposal from its chairman Tsai Eng Meng to buy
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  • Page 8 Advertisements
    • 1361 8 iii 11 mm'—— i-ruJ=igJl\A 11 I National Bank of Kuuiaitl NBK an I I (Incorporated in Kuwait with limited liability) I I Head Office: Abdullah Al-Ahmad Street P.O. Box 95, Safat ***** Kuwait I I Consolidated Balance Sheet Consolidated Statement of Income I I As of 31 December 2006 For
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  • Page 9 Advertisements
    • 542 9 H|K\M j^Zi I fIBFpHHj E: I t- mmmmmmma Wi ■fiy- -^■■■■■■P' ma. V J Hft I F fl 1 I 1 jtß I Jfr supw "if •"-m- .^L We are a "one-stop" distributor of austenitic stainless steel products. Our track record in the stainless steel industry spans more than 20
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  • SINGAPORE NEWS
    • 291 10  -  By UMA SHANKARI FORMER National Kidney Foundation (NKF) chief executive T T Durai will receive judgment on June 11, the subordinate courts ruled yesterday after hearing the closing arguments from both the prosecution and Durai's defence. Wrapping up yesterday's court session by lunchtime,
      FILE PHOTO  -  291 words
    • 366 10  -  S'pore universities extend deadline for applications for 2007 admissions By CHARMIAN KOK THE Economic Development Board (EDB) yesterday said that it has been working closely with the University of New South Wales (UNSW) and the Ministry of Education to help affected students who wish
      FILE PHOTO  -  366 words
    • 238 10 CHINA and Singapore yesterday held a second joint intellectual property conference, examining the latest developments in Chinese, Singaporean and Asean intellectual property. The event, held in Beijing, attracted about 240 participants, nearly half of whom were from the business community. The rest of the
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    • 327 10  -  Income received during time they claimed dormancy By CHEN HUIFEN TWO companies were yesterday fined $5,000 each for evading taxes and ordered to pay a penalty of three times the amount of tax underpaid. Two directors were jailed and fined. Hong Aik
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    • 189 10 Bloomberg [HONG KONG] Deutsche Bank AG. Europe's largest investment bank by revenue, has hired Andrew Yeo from Temasek Holdings Pte to be a director of global credit trading and help find opportunities for and implement private-equity investments. Mr Yeo, whose appointment takes effect
      Bloomberg  -  189 words
    • 368 10  -  By ARTHUR SIM LET it not be said that Singapore is behind on any of the latest property trends. Hotel Asia, which will be redeveloped into a 30-sto-rey luxury condominium, will have private carparking in each unit, the most
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    • 219 10 URA releases Anson Road site for tender THE tender for a commercial site at Anson Road on the reserve list will close on July 23, the Urban Redevelopment Authority (URA) said yesterday. The 99-year leasehold site, which can be developed into a maximum gross floor area of 383,808
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    • 169 10 EXCLUSIVELY for the readers of The Business Times, Times The Bookshop at The Centrepoint is giving a 20 per cent discount on full-priced books and stationery: Buy any book and receive a complimentary two-year membership and a Times Privilege Card worth $15. Members get a
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  • Page 10 Advertisements

  • SME spotlight
    • 1044 11  -  Rosemary Tan is a hands-on entrepreneur who built her own lab so that she could conduct her experiments, writes CHEN HUIFEN CHEN HUIFEN Rosemary Tan, ceo of Veredus Laboratories Pte Ltd, is one of the few if not the only female biotech entrepreneur on the
      FILE PHOTO  -  1,044 words
    • 360 12  -  By TEH HOOI LING TAT HONG and China Wheel were the two stars of our small cap portfolio last week. Crane specialist Tat Hong saw its share price surge 11 per cent for the week to yesterday. The strong run-up was in anticipation
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    • 710 12  -  SMALL CAPS Manufacturing Integration Technology CEO Tony Kwong talks to CHRISTINE SIM about his big plans CHRISTINE SIM Manufacturing Integration Technology Ltd (MIT) wants to become one of the biggest semiconductor, contract manufacturing and precision engineering companies in Singapore given the double-digit growth rates in the
      FILE PHOTO  -  710 words
    • 796 14  -  Luxury Tours Travel has come a long way from a coach operator to a full-fledged travel services company, as JANICE HENG finds out after talking to its MD JANICE HENG FROM ferrying tourists to handling corporate groups by the hundreds, Luxury Tours Travel has
      YEN MENG JIIN  -  796 words
  • Page 11 Advertisements
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  • Page 12 Advertisements
    • 699 12 W w^^^JBSSS^ H RaboJet Certs Series 1 will be launched on the Singapore Exchange Securities Trading Limited (SGX) on 7 th June 2007. Linked to the share price performance of DBS Group Holdings Ltd, Capita Land Limited, Singapore Telecommunications Limited and Singapore Airlines Limited Daily lock-in feature with a maximum
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    • 60 12 V NoTransFat^k"" No Cholesterol V Healthier Choice %*3B9H||||||9W£UMbM The Straits Times reported on 10 January 2007 that there are 275,000 diabetics and 500,000 'glucose intolerant' people in Singapore. Make Gardenia Nutri Multi-Grain Loaf your daily source of energy. wH To learn more about having better control of your blood glucose
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  • Page 13 Advertisements
    • 4181 13 Want Want Holdings Ltd Want Want International Limited (Incorporated in Singapore) (Incorporated in the Cayman islands) (Company Registration no. *****7660Z) Hot-Kid Holdings Limited (Incorporated in the British Virgin Islands) JOINT ANNOUNCEMENT PROPOSED VOLUNTARY DELISTING OF WANT WANT HOLDINGS LTD 1. INTRODUCTION 11 DISCLOSURES 1.1 Delisting Proposal. Further to the holding
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  • BT-LEK SHAREHOLDER SCORECARD
    • 848 15  -  DANIEL BUENAS looks at the sectors that have rewarded shareholders with stable as well as high returns DANIEL BUENAS COMPANIES in the manufacturing and finance sectors may not provide the best returns, but they provide the most stable ones, a data analysis by global consulting firm
      FILE PHOTOS  -  848 words
    • 657 15  -  By DANIEL BUENAS IT was the year for property and construction in 2006, if LEK's data is anything to go by. The top 10 list of companies with the best total shareholder returns for 2006 are dominated by firms from the property and
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    • 405 15 SHARE price appreciation is often used as a proxy to measure the returns of a company to its shareholders. But it can be misleading, as investors receive returns in a number of other ways, including dividends, simple capital transactions such as rights
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    • 1259 16  -  The number of listed companies with over $1b in market cap grew to 77 last year, from 67 in 2005, reports DANIEL BUENAS DANIEL BUENAS SINGAPORE'S billion-dollar club that is to say, listed companies with over $1 billion of market capitalisation grew to 77 last year,
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    • 559 16  -  By DANIEL BUENAS SINGAPOREAN consumer spending habits are becoming more sophisticated and, driven by the recent property boom, higher-end retail brands appear to be reaping the rewards. LEK's analysis of the retail sector indicates that while some retailers continue to generate low returns,
      559 words
    • 5868 18 (ranked by five-year TSR) BANKS Oversea-Chinese Banking Corp 23,917.4 Banks 18.9 20.0 16.2 14.0 Sector Average 17,1624 Banks 3S.0 19.7 14.6 14.1 United Overseas Bank 29,257.9 Banks 39.9 19.8 14.1 13.5 DBS Grp 33,987.3 Banks 42.1 19.4 13.8 14.6 CHEMICAL PRODUCTS Tianjin Zhongxin Pharm 32.0
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  • Page 15 Advertisements
    • 94 15 LEK a global consultancy LEK Consulting is an international strategic management consultancy firm with 70 partners and 700 professionals working out of 17 offices throughout Asia, Europe, the US and Australia-New AB Zealand. It has 120 professional staff in Asia, with wtL MB iJW offices in Bangkok, Beijing, Tokyo, Shanghai
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  • Page 16 Advertisements
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  • Page 17 Advertisements
    • 639 17 COSCO Corporation (Singapore) Limited Overview COSCO Corporation (Singapore) U COSCO is committed to g Umited CCOSCO" or the company) providing only the best and will -[M. ai has the largest Ship Repair, Ship continue to strive for the acceleration yta :i *f Building Marine Engineering of our growth, as well
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  • ARTS FEST
    • 477 20  -  There will also be informal art workshops, as well as buskers adding their music to the bustle. By CHRISTOPHER LIM THE Singapore Arts Festival (SAF) is primarily a celebration of the performing arts, but the visual arts fans are also there, with events that
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    • 482 20  -  The Esplanade has designed a fringe programme to complement the arts festival's core performances, reports MELISSA LWEE MELISSA LWEE WHILE classical performances are the staple of every arts fest, the Esplanade has decided to shake things up a little this year. In tandem with the
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  • Page 20 Advertisements
    • 3 20 Performing impossile tasks
      3 words
    • 47 20 ■Qr B MASTER DIGITAL PHOTOGRAPHY IN 150 PAGES! H OVfft 50 TOPICS COVERED. OVER 100 TPS AND TECHNIQUES TO HEP YOU SHOOT LJKE A PROI WITH MORE THAN 150 PHOTOS AND ILLUSTRATIONS. Available for only $18 at all leao>ig book stores, or order online now at www.hardwartmag.com/m4gagiiick
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  • ECONOMY WATCH
    • 654 21 NEWS ANALYSIS It seems to be ebbing because of undercounting, not purchasing power Reuters [NEW YORK] US inflation appears to be ebbing as the economy slows, but the trend may have more to do with systematic undercounting than newfound purchasing power. The gap between policymakers'
      Reuters  -  654 words
    • 166 21 He also sees more Chinese firms investing in M'sia Bernama [BEIJING] Trade between China and Malaysia will hit USSSO billion by 2010 given the robust pace of growth in bilateral trade in recent years, a senior Chinese official said yesterday. Assistant Commerce
      Bernama  -  166 words
    • 439 21 Reuters [HONG KONG] Hong Kong's economic prospects are looking brighter, as a jump in consumer spending has prompted economists to raise their growth outlook for 2007, despite a disappointing first-quarter performance, a Reuters poll shows. Economists surveyed estimated that gross domestic product would expand
      Reuters; BLOOMBERG  -  439 words
    • 181 21 AFP [TOKYOJ India's economy will overtake the Japanese economy by 2025 to rank third in the world after the US and China in terms of purchasing power parity, Japan's central bank chief predicted yesterday. Bank of Japan governor Toshihiko Fukui also urged
      AFP  -  181 words
  • Page 21 Advertisements
    • 451 21 2 Day MBA In Mergers Acquisitions 6th 7th j U ne (Wed Thu) Professor Y. Eden (CPA, PhD in Accounting Finance) V Se a Designed For: Business Owners Officers from government agencies Board of Directors Professionals who are keen to gain insight CEOs, CFOs, COOs GMs into assessing managing of
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  • MALAYSIA/INDONESIA
    • 655 22  -  It'll deliver oil from Middle East to N-E Asia faster By S JAYASANKARAN in Kuala Lumpur A SHORT cut to transporting oil from the Middle East to North-east Asia by piping it across northern Peninsular Malaysia is in the works. Yesterday,
      655 words
    • 487 22  -  Earnings more than double forecast for full year; new FY2007 projection set at RM300-700m By PAULINE NG in Kuala Lumpur MALAYSIA Airlines has posted a net profit of nearly RMI33 million (Ss6o million) for its first quarter ended March, more than double the
      BLOOMBERG  -  487 words
    • 207 22 Reuters [KUALA LUMPUR] Indonesia is reviewing foreign ownership rules in its telecoms industry, the country's trade minister said yesterday, amid speculation that the government wanted to tighten restrictions. Indonesia currently allows foreigners to own up to 95 per cent of a local telecoms
      Reuters  -  207 words
    • Article, Illustration
      2485 22 Source: Reuters VOL •toy n RM W- rOOO) A A M Realty .236 021 150 Abhc Bhd 3.30 0.01 1 Advance Synergy 0.30 unch 4775 Advent* Bhd 1.21 0.01 317 Ae Multi Hldgs .0.31 -0.01 46 Affin Holdings 2.34 unch 5S1 Ahmad Zakiftasou 2 93 0.05 27 Ak
      Source: Reuters  -  2,485 words
    • 142 23 AFP [BEIJING] China has discovered huge gas reserves in the south-western province of Sichuan, hoping that the find will help ease growing concerns about energy security, state media reported yesterday. A total of 3.8 trillion cubic metres of natural gas deposits have been
      AFP  -  142 words
    • 370 23 He orders local govts to ensure affordable supply AFP [BEIJING] China's premier has called for steps to stabilise pork supplies and rein in soaring prices of the staple meat, warning that "social stability" is at stake without a solution, state media reported yesterday.
      AFP  -  370 words
    • 265 23 Reuters [SINGAPORE] Asia-focused Standard Chartered pic is in final talks with Securities Trading Corp of India to buy a 49 per cent stake in UTI Securities to complement its private banking business, an executive said. "The UTI transaction is in
      Reuters  -  265 words
    • 550 23 One must take into account long-term value created by a chief exec: Ernst [MUMBAI] Some corporate chiefs are more equal than the others. Sunil Mittal, the new president of the Confederation of Indian Industry, can stand up to Prime Minister
      REUTERS  -  550 words
  • Page 22 Advertisements
    • 1170 22 0 Hana Bank Head Office: Hana Bank Building 101-1 1-Ka Euljiro, Chung-Gu, Seoul, Korea 100-191, http://www.hanabank.com Singapore Branch: 8 Cross Street, #23-06 PWC Building Singapore *****4 Tel: (65) 6438 4100 Fax: (65) 6438 4200 Swift: HNBNSGSG CONSOLIDATED BALANCE SHEETS CONSOLIDATED STATEMENTS OF INCOME December 31,2006 and 2005 For the year*
      1,170 words


  • MIDDLE EAST
    • 484 24  -  Insurance, retail and wholesale trade, air and train transport, telecoms now open By HABIB SHAIKH in Jeddah FOREIGNERS will now be able to invest in Saudi Arabia in new sectors such as insurance, wholesale and retail trade, air and train
      484 words
    • 165 24 AFP [KUWAIT CITY] Kuwait on Sunday decided to switch its weekend to Friday-Saturday from Thursday-Friday, starting on Sept 1, State Minister Faisal al-Hajji told the official KUNA news agency. Kuwait will follow the example of Gulf partners the United' Arab Emirates (UAE),
      AFP  -  165 words
    • 6892 24 UNIT TRUSTS FUNDS AM Amro Asset Mat (S'part) Star Europe 1.137/ Star Europe Bond 1.178/ Star Europe 8d 1-267/ Star Asian Tiger Eqty 1/M1/ Star Asia Bond 1342/ Star Asa Battnad 112V Star Global Technology Fund!" 0221/ Mult St« .0977/ Star Asia BondtUSO) ***** Gfc Mufti St USD 1.171/ Asia
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  • Page 24 Advertisements
    • 32 24 Allianz Global Investors SCORE IN EMERGING MARKETS Tr v our online q uiz at www.fronklintempleton.com.sg and win attractive prizesl* FRANKUN TEMPLETON raSllWi^f INVESTMENTS *Ttrmi and conditions apply. > BIZ REGN NO.: *****521 IE
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  • ASIA-PACIFIC/WORLD
    • 462 25 AP [TOKYO] Japan's agriculture minister died yesterday after hanging himself just hours before he was to face questioning in a political scandal, officials said. Toshikatsu Matsuoka, 62, was found in his apartment yesterday unconscious and declared dead hours later. The death comes just
      AP; BLOOMBERG FILE PHOTO  -  462 words
    • 10 25 Bloomberg (Bangkok)
      Bloomberg  -  10 words
    • 369 25 Move will end his control over media assets to focus on gaming business Reuters [SYDNEY] James Packer is in talks to sell a further 25 per cent of his TV and magazines joint venture to private equity group CVC, ending his
      Reuters  -  369 words
    • WORLD WATCH
      • 89 25 Reuters [SYDNEY] Rio Tinto has hired Deutsche Bank to advise it on a possible bid for Canadian aluminum producer Alcan, the Sydney Morning Herald reported yesterday. Rio Tinto is the latest mining house reportedly sizing Alcan up for takeover after Alcan rejected a
        Reuters  -  89 words
      • 125 25 Reuters [MELBOURNE] Private equity giants Kohlberg Kravis Roberts and CVC pulled out of a consortium eyeing Australia's Coles Group, but the bid group said it was still in the race for the retailer. KKR confirmed yesterday it had withdrawn from the consortium due to
        Reuters  -  125 words
      • 162 25 Bloomberg [NEW YORK] Warner Music Group Corp declined to comment on a report that it rejected bidding for EMI Group with another party and may make an offer by itself. Warner held talks with three private equity firms about a joint bid, the Guardian reported
        Bloomberg  -  162 words
    • 271 25 Compulsory licences likely on two more drugs AFP [BANGKOK] The Thai government, which has clashed with Western pharmaceutical giants over expensive patented drugs, said yesterday that it is considering approving more cheap generic versions of pricey medicines. "We are considering imposing compulsory licences
      AFP  -  271 words
    • 427 25 BLOOMBERG [STOCKHOLM] Shares in Nordic and Baltic bourse group OMX rose almost 6 per cent yesterday after a report that the owner of the Dubai stock exchange planned to trump Nasdaq Stock Market's offer. Nasdaq's bid, worth US$3.7 billion, pushed up OMX shares by about 12
      BLOOMBERG  -  427 words
  • Page 25 Advertisements
    • 334 25 Attribution of Business Profits and the Taxation of Permanent Establishments :A..h 20 July 2007 9.00 am to 5.00pm Sheraton Towers Singapore As businesses grow and expand across borders It 13 invariable that they will establish presence In varicxM countries with which they trade. The presence of such establishments can have
      334 words

  • AVIATION
    • 578 26  -  Govt raises concern squeeze may erode HK's reputation as key transport hub By JANE MOIR in Hong Kong EXPANSION plans for Hong Kong's busy airport have come under the spotlight as fears mount that international carriers are being denied landing slots
      APPLE DAILY  -  578 words
    • 165 26 AFP [BEIJING] China will soon grant an operating licence to fledgling Western Airlines to begin flying domestic routes, state media reported yesterday. The licence will allow the airline to launch both passenger and cargo operations, the China Business News reported, citing officials with
      AFP  -  165 words
    • 146 26 Reuters [KUWAIT] Kuwait's International Financial Advisors (IFA) aircraft hiring unit IFA Aviation said on Sunday it planned to launch an initial public offering this year to raise funds for a fleet expansion. "We are planning to do that (IPO) hopefully in 2007," IFA
      Reuters  -  146 words
    • 85 26 AFP [TOKYO] Flights on Japan's second largest carrier, All Nippon Airways, were disrupted for the second straight day yesterday due to a major computer glitch, although service was expected to return to normal soon. ANA, which grounded 130 flights and delayed 306 for over
      AFP  -  85 words
    • 217 26 Bloomberg [SYDNEY] Qantas Airways Ltd, Australia's largest airline, had its ratings outlook cut to "negative" from "developing" because it may return funds to shareholders, Moody's Investors Service said. A buyback of shares or higher dividend payments will "pressure the rating", Moody's said
      Bloomberg  -  217 words
    • 2295 26 cut mswT ETA man itp ****** LH$771 1>5fl AF&06S »30 SQ268 1750 BA7382 2230 AF8087 1820 QF82 2230 BA7381 1820 LH9770 2345 QF81 1820 SQ269 _2345 -S0530 1930 Amsterdam *****1 0630 A***** 2245 SQ323 0630 KL838 2245 AZ3992 1555 L***** 2345 KL837 1555 S0324 2345 A9mm
      2,295 words
  • Page 26 Advertisements
    • 146 26 jj w'niwwmifiKiir r nninnni> -ttiiMutut-wrm —irnmw ntvrt in 1 T in '"B BT/ZUJI Deals of the Week [jI^VEGA^ BUSINESS CLASS (from S) ECONOMY CLASS (from S) HOTEL (from S) Las Vegas $3,612 $1,418 $40 Philippine Airlines Philippine Airlines DESTINATIONS BUSiNSSS CLASS (faro S) ECONOMY CLASS (from HOTEL (from S) WEATH£R~|
      146 words
  • Page 26 Miscellaneous
    • 195 26 CRYPTIC CROSSWORD DOWN -> <:♦„«, r Qm^.r^,,i3 r m r>,,u,nr. 1 3 Meticulous without you and France, it is heard (5) 2 Starry semicircular moulding Georgia left (6) me J? S observance of etl YESTERDAY'S SOLUTION 3 Audibly refer to a portion (5) hor (2 7) Across: 1 Panama, 5
      195 words

  • SHIPPING
    • 360 27 Blo6mberg [SINGAPORE] Neptune Orient Lines Ltd shares climbed to a record after ÜBS AG raised the stock rating on the operator of Asia's fourth-largest con-tainer-shipping line, citing a possible sale of its United States port terminals. Neptune shares jumped 34 S'pore cents,
      Blo6mberg; BLOOMBERG FILE PHOTO  -  360 words
    • 283 27 SGX '000 May 28 SS Vol Ch Offshore 0.62 -0.01 1712 Chuan Hup HkJgs 0.37 0.01 1034 CoscoCorp .2.67 0.02 6158 Cwt Limited 0.89 0.01 116 Ezra Hldgs .5.75 -0.05 55 Freight bnks 0.14 0.01 ***** Grand Banks 1.08 unch 73 jaya Hold Ltd 1.50 unch 75 K1
      283 words
    • 290 27 AP [NEW YORK] Add another attraction to the Statue of Liberty and Ellis Island: A futuristic-looking, solarfuelled ferry to take visitors there. Ferry operator Circle Line is floating a plan to put an environmentally friendly hybrid vessel combining solar, wind and
      AP  -  290 words
    • 321 27  -  It will build a 5,000 tonne DP3 heavy lift crane vessel for Avonway By CONRAD RAJ [SINGAPORE] Sembcorp Marine's wholly owned subsidiary, Sembawang Shipyard Pte Ltd, has won a US$22l million contract from Avonway Ltd of Cyprus, a wholly owned subsidiary of Nordic Heavy Lift
      321 words
    • 298 27  -  By DONALD URQUHART [SINGAPORE] Keppel Offshore Marine has added a new jack-up drilling rig contract worth US$l9l million for Vietnam to its already substantial order book. The contract was awarded to the group's wholly owned subsidiary, Keppel FELS, by PetroVietnam Drilling Investment Corp
      298 words
    • 180 27 Reuters [MOSCOW] Russia's state property fund has postponed until June 19 the first auction to sell off assets of the country's biggest river shipper Volgotanker to recover its back taxes, the fund said yesterday. Volgotankers' five oil tankers were to be sold on
      Reuters  -  180 words
  • Page 27 Advertisements
    • 321 27 The Member Lines of the FEFC wish to advise Shippers:Buslness Plan Westbound Cargo 2007 As part of the Business Plan 2007 announced on 3rd November 2006, Member Lines of the FEFC wish to advise customers that it has been decided that for cargo moving from Asia (excluding Japan) to North
      321 words
    • 15 27 tty&AuIKHIPSB ak^JH "s# The Legends Fort Canning Park 11 Canning Walk Singapore *****1 fnb@legendsfortcanning.com www.legendsfortcanning.com
      15 words

  • EDITORIAL & OPINION
    • 460 28 EDITORIAL A SECOND round of discussions between high-ranking Chinese and American economic officials under the auspices of the "Strategic Economic Dialogue" ended* in Washington last week with America gaining on issues such as financial services (more access to Chinese markets for US firms, including brokerage,
      460 words
    • 1428 28  -  It affects how people spend and save money, and also influences how they deal with losses and gains By SHANKAR VEDANTAM LAT-WP LET'S say you are headed to a movie. As you are about to enter the theatre, you reach into your pocket
      LAT-WP; REUTERS  -  1,428 words
    • 809 28  -  THE BOTTOM LINE ROBERT SAMUELSON [WASHINGTON] When I joined The Washington Post as a reporter in 1969, hardly anyone I knew in the news business considered it a business. We belonged to a craft, a calling or maybe a profession. We
      809 words
    • 1904 29  -  Kris Wiluan's basic philosophy in life is to just do the best he can, whether for himself, family, friends, and shareholders, writes RONNIE LIM RONNIE LIM BENEATH Indonesian tycoon Kris Wiluan's suave, patrician demeanour lies a tough, tenacious businessman eyeing his
      ARTHUR LEE  -  1,904 words
    • 443 29  -  Pak Kris says career paths are something which he has left entirely to his children to decide By RONNIE LIM -11 W I OME is where the I family is," says Pak P"" 1 Kris, who has set I up nests in Batam and
      443 words


  • 11789 30 SGX MAINBOARD Transaction date: May 28 52-Wk Td Last Vol Day Last Quote Div GrYld Net MCap High Low Code Company Sate W- COOP) High Low Buyer SaBir CW HI Sum 35 2 5716 1st Software 2 susp 81 18 6 1148 8Telecom 17 5 *15 4298 18
    11,789 words
  • Page 30 Advertisements
    • 167 30 Not been making the most fcf the markets? Then it's time to trade CFDs with City Index Asia. Trade multiple market* from Trade long or short on bye market one account price* Manage yoorriak with atop loesea and Trade stocks, ETF* and indioea from other order types 7.8% margin CFDa
      167 words

  • 5897 31 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In S$ In US$ dy yr dy yr dy Syr May 25 Index Change Change Change Change Change Change T he World Index Preliminary 1177.5 0.1 7.0 0.1 7.3 0.1 7.7 t EAFE Preliminary 1184.6 -0.3 7 0 -0.2 7.5
    5,897 words
  • Page 31 Advertisements
    • 174 31 t YOU'RE THE BOSS 4 With control over your global market trades in FX, FX Options, CFDs, Futures and Equities, our award-winning multi-product trading platform gives you: f- GET A FREE US$lOO,OOO Real-time pricing, rapid execution Comprehensive chart toolkit r DKMO ACCOUNT NOM& and valuation of your holdings Up-to-the-minute research,
      174 words

  • Page 32 Advertisements
    • 1954 32 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination NIPHANAREE RDM/ATW/BMN/TIB/NAN STXPOTBN CAM/NFK/NOL/SAV Loads Singapore, E./W. Malaysia, Indonesia loads E./W. Malaysia, Indonesia MIPPLE-EAST SERVICE F.E./S.E.A. SERVICE Destination Destination PAN VOYAGER DBI/ABU/DOH/BRN/DMM/KWT STXPO TBN INC/BSN PAN BRIGHT JDH/BJA lAURADA DBI/DBU/DOH/BRN/DMM/KWT Loads Singapore, E./W. Malaysia, Indonesia Loads E. Malaysia, Indonesia OTHER SERVICES Tramping for
      1,954 words
    • 476 32 yUm WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobal.com vessb. vot mr ~hbght sin lk map sav ui o«r TARONGA Af7l6 3201 ms *.2SM 11/05 21/0* 30/0* 05/07 M/ 07 07/07 TAME SIS *1717 320t0« 6.4* o*/0* 02/07 11/07 15/07 20/07 11/07 TAMPA Af/ll 4201 m *.4M l*/0* 11/0* 22/07 2*/07 31/07 21/07
      476 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 5320 33 This CTA ETA Advertiser VmmI Voyage Telephone SIN DMfR Nam* Name Number Number To ADELAIDE (ADL) 2007 Australia 10/06 29/06 China Shpg API TOPAZ 1455 *****696 10/06 29/06 PTDiakana API TOPAZ 1*55 *****202 17/06 06/07 China Shpg ANL WINDARRA 0045 *****698 17/06 06/07 PTDiakana
      5,320 words
  • Page 33 Advertisements
    • 686 33 WAN HAIINTERNATIONAL PH LTD a Nft 144WW0000/I llfftll ||l| lllirr TEL *****588 {14LINES) FAX:*****163 V\N 1 WAN HAI LINES Cimon* Servke/Booktagj Mract Urn (1800) *****200 lim ■111** PA IB: (03) 334ttS8t FAX: (03) *****211PW IE; (04) 22(5900 MX: (04)*****99 V JOH IB: (07) *****23 MX: (07)*****21 51* IB: (031) *****75
      686 words
    • 999 33 P9DDDDQHI IVtSStL VOY PKL I«N KHI PXB BAB PMM BIK KHO IRAN BAABAEI PCLBI99 27/05 28/03 06/06 09/06 10/06 16/06 18/06 20/06 IRAN SATTARI PCLB2OO 07/06 06/06 13/06 18/06 19/06 23/06 27/06 29/06 MAGNAVIA PCLB2OI 07/06 06/06 SKIP 13/06 16/06 22/06 24/06 26/06 I VESSEL VOY SIN NHS BNP PXB
      999 words
    • 716 33 <§) WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTS restl WT SW fJUK ICOUMIC W.SHEW COLOMIO tAJtV GAUDMI 0114W 30 MAT OMIT Ml £LM LLJUH mm oiw as iiw otjuw am MJUH 12H KOTA PAHUWAW WHOM I? JUW I3JUW ItJUW 09JUW I3JUW ALSO ACCEPTMG FQ
      716 words


  • Page 35 Advertisements
    • 1027 35 r *v HSBC Private Bank (Suisse) S A Annual Results for 2006 Balance Sheet Statement of Income (In CHF thousands) (In CHF thousands) as at December 31 Ygar Ended Pecgipbgr 31 2006 2005 2QQ6 2QQS— ASSETS Interest Income Liquid assets 51,113 66,039 Interest and dividend income 1,644,228 951,062 Receivables arising
      1,027 words
    • 1880 35 11 PISOCIETE L ■ICENERALE A French Corporation founded in 1864 Head Office: 29, Boulevard Haussmann-***** Paris France. Notes in the Accounts which form an integral part of the financial statements together with a list of Societe Generale's subsidiaries can be obtained from Societe Generate Singapore Branch, 80 Robinson Road #26-00
      1,880 words

  • Page 36 Advertisements
    • 2812 36 Cats Notices sUf State Street. Head office State Street Financial Center, One Lincoln Street, Boston, Massachusetts *****-2900, United States Singapore office 168 Robinson Road, #33-01 Capital Tower, Singapore *****2. Tel: +65 6826 7100 CONSOLIDATED STATEMENT OF CONDITION CONSOLIDATED STATEMENT OF INCOME As of December 31, Years ended December 31, (Dollars
      2,812 words

  • Page 37 Advertisements
    • 1165 37 I A 1 -t 'f' FORTIS BANK S.A./N.V. FORTIS INCORPORATED IN BELGIUM WITH LIMITED LIABILITY) I Consolidated Balance Sheet Consolidated Profit and Loss Account As at 31 December 2006 For the year 2006 In EUR million In EUR million 2006 2005 2006 2005 Assets Income Cash and cash equivalents 20,791
      1,165 words
    • 210 37 NOTICE OF FINAL MEETING IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF CURRIE BROWN (SINGAPORE) PTE. LTD. (IN MEMBERS'VOLUNTARY LIQUIDATION) (REGISTRATION NO. 1999M*4*H) NOTICE IS HEREBY GIVEN thai the Final Genera) Meeting of the members of the abovenamed Company will be held at 331
      210 words
    • 2169 37 HONG FOK LAND LTD (Company Registration No: *****0455 C) (Incorporated in the Republic of Singapore) NOTICE OF MEETING OF HOLDERS OF THE 5570,000,000 SECURED FIXED RATE NOTES DUE 2011 AND THE 5540,000,000 SECURED FLOATING RATE NOTES DUE 2011 Trust Deed dated 18 January 2006 (the "Trust Daad") between Hong Fok
      2,169 words

  • PROPERTY
    • 183 38 Imdaad to manage parent's properties, and those of other Dubai World group firms Bloomberg [DUBAI] Istithmar PJSC, a Dubai government-owned investment company that plans to spend US$25O million on Asian real estate, started a unit to manage its property assets and those of other
      Bloomberg; BLOOMBERG  -  183 words
    • 180 38 Reuters [LONDON] British house price inflation eased slightly in May, according to property researchers Hometrack, suggesting higher interest rates may be starting to cool demand in the housing market. Hometrack said yesterday that house prices rose 6.7 per cent on the year this
      Reuters  -  180 words
    • 392 39  -  By ARTHUR SIM COLLECTIVE sale via the "expression-of-interest" route can help owners seek better prices for their homes as evidenced by an almost 40 per cent increase in the asking price for Tulip Garden. The condominium, which is at the junction of
      392 words
    • 321 39 The company will probably sell a stake of around 25%: bank source Reuters [HONG KONG] China's Longhu Real Estate hopes to raise US$l billion in a Hong Kong initial public offering, probably next year, a bank source said, at a time when loans
      Reuters  -  321 words
    • 246 40 MCL Land has emerged as the top bidder for Nob Hill Condominium and two adjoining bungalows on Ewe Boon Road, at a price of $95 million or $1,100 per square foot of potential gross floor area, including an estimated
      246 words
    • 183 40 Bloomberg [HONG KONG] Shui On Land Ltd, a Shanghaibased real estate developer, and its partners in a venture will spend more than 3 billion yuan (***** million) on a software park in the north-eastern Chinese city of Dalian. The venture
      Bloomberg  -  183 words
    • 596 40  -  It puts up price of $123m for 99-year plot at Gopeng St next to the Amara By KALPANA RASHIWALA HONG KONG tycoon Li Daksum's Carlton group yesterday emerged as the top bidder for a 99-year hotel site at Gopeng Street next to the
      FILE PHOTO  -  596 words
  • Page 38 Advertisements
    • 383 38 Rare 122,590 sf Site Lor M N Telok Kurau (East Coast) V Plot A: approx. 56,881 sf Plot B: approx. 65,709 sf k X Plot C: approx. 9,317 sf Freehold Plot Ratio: 1.4 (Up to P 5 storey) X Dual Frontage onto Lor M \Q \,Vc°HSi —■^TV^J 4 Lor N
      383 words
    • 301 38 Casa Nassau adjoining bungalow mrt -W d Total land area 65,110 sf; Freehold V __—52— Temmtek 1 r\UV Ph Q#4i B Bedok GPR 1.4, up to 5 storeys l(p\ Junior College Residences \fA Potential for 72 units x 1,200 sf V— roa»T^—-.~r-T; P\ Pleasant environment; convenient P^° pef^ sta Within
      301 words

  • Page 39 Advertisements
    • 378 39 Expression of Interest qSSr£ Toho Garden -rfjp** 4 212 A 216 A Yio Chu Kang Road Site Area 86,881 sq ft Master Plan 2003 "Residential" at Plot Ratio 1.4 W Potential for Approval of a 10-Storey Residential Development I Expression of Interest closing oW> Friday, 29 June 2007,3pm |i For
      378 words
    • 456 39 FREEHOLD SITE FOR SAL£ J V-v sow* Address: 217 Upper BukitTimah BlB** •Souhhxwnl DnnH .Sooww-n* kOC,a Site Area: approx 15,223 sf m Potential: I Commercial development (Gross Plot Ratio: 1.4) 'deal for shops/ofltees/showroom I*l PtaX/ \sv Regular layout with good frontage Convenient access to PIE Tel: 6224 8181 6 Battery
      456 words

  • Page 40 Advertisements
    • 118 40 J i I B ■nnjH nt\ Bungalows pnschVv/ Large Dist. 10 site for up to 36-sty condominium J semi-detached 838,488 sf land, 99-year LH, GPR 2.8 /l nPark (7 Houses Surrounded by landed, 5-sty 12-sty devts Bun 9 alows >X^artten" s 360° unobstructed panoramic views Within 300 m from Farrer
      118 words