The Business Times, 26 June 2007

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Total Pages: 32
1 32 The Business Times
  • 20 1 THE BUSINESS TIMES Tuesday, June 26,2007 online at http://business-times.asial.com.sg A SINGAPORE PRESS HOLDINGS PUBLICATION MICA (P) 202/12/2006 SINGAPORE 85 cents
    20 words
  • 556 1 Reuters [SINGAPORE] The property arm of the Government Investment Corp of Singapore (GIC) is looking to move into Russia and Turkey but is "extremely careful" in the London office market where prices have soared. The head of GIC Real Estate also sees promise
    Reuters; FILE PHOTO  -  556 words
  • 133 1 STI 3,580.33 (-35.05) ST INDEX FUTURES 3,580.00 (-36.00) SIMSCI 442.69 (-4.06) SIMSCI FUTURES ***** (-4.90) MARKETS Monday Change KLCOMP 1,***** 4.44 NIKKEI 225 18,087.48 -101.15 HANG SENG 21.822.35 -177.56 SET INDEX 764.12 -7.93 JAKARTA COMP 2.152.20 -0.12 MANILA COMP 3,653.58 -47.58 SEOULCOMP 1.757.73 -13.25 SHENZHEN B ***** -19.36
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  • 761 1  -  Citigroup Research says price-to-book value of market is now at its highest since 1990 By GRACE CHUA [SINGAPORE] Researchers at a US bank have gone out on a limb by recommending investors to "sell Singapore" and put their money into Taiwan.
    761 words
  • Page 1 Advertisements
    • 39 1 SMALL CAPS Valuetronics embarks on expansion PAGE 13 BT ONLINE BT print subscribers get free access to the Business Times Online. To activate your account, log on to http://business-times. asial .com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838
      39 words
    • 43 1 RSMESPOTUGHT Expansion's on the Menu PAGE 12 MORE REPORTS Capita Land to launch new India, China funds this year Asia's first open-end property fund may exceed USslb RREEF to spend 30% of funds in Asia Tishman Speyer-ICICI Bank JV eyesnewfimdin India PAGE 10
      43 words
    • 13 1 8 Hi I Mapletree's Alexandra Business Hub draws backroom operations ofbanks PAGE 2
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    • 28 1 PROPERTY CBD 'gem' Riverwalk and two residential sites up for sale page 29 COMPANIES Green investing taking root in Asia PAGES W ifc Asw^H^^l mf mH JL >:d^H
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  • TOP STORIES
    • 483 2  -  By CHOW PENN NEE [SINGAPORE] One of Japan's largest financial groups has poured money into expanding its Singapore operations so as to build up its Asia-related business. Fresh from setting up a wealth management centre in Singapore to cater to high-net-worth
      483 words
    • 445 2  -  Mapletree office complex draws banks, including DBS and HSBC By WEE LI-EN [SINGAPORE] Banks that have been moving their backroom operations to out-of-town areas have now found a new hub at Alexandra. An office complex, The Comtech, which was retrofitted in 2003 and is
      445 words
    • 523 2 ING outlines strategy for the region ING Asia-Pacific, which has made Singapore the base for its Asian private banking business, has spelled out its strategy to grow its business in the region. "Our business in Asia-Pacific is definitely important, as it accounted for 6 per cent of total
      523 words
    • 609 3  -  It will beef up on retirement products, focus on private banking By OH BOON PING [SINGAPORE] ING AsiaPacific, which has made Singapore the base for its Asian private banking business, has spelled out its strategy to grow its business in the region. "Our business
      609 words
    • 507 4  -  WORLD ECONOMIC FORUM Forecast of 1.3% this year and 1.5% next year: chief economist By OH BOON PING [SINGAPORE] Inflationary pressures in Asia are likely rise again this year, as high energy prices return and some key regional economies overheat,
      507 words
    • 791 2  -  By KALPANA RASHIWALA [SINGAPORE] Goldman Sachs (Singapore) has argued a case for lifting restrictions on foreigners buying landed homes inSingapore, saying this would serve as a catalyst for further foreign buying of private homes and boost the current residential property upcycle. Its
      FILE PHOTO  -  791 words
    • 874 3 Apple's i Phone poised for takeoff but will it fly? AP [SAN JOSE, California] There's hype. There's hysteria. And there's history. The hype around Apple's upcoming iPhone is abundantly clear. So is the hysteria. But how the iPhone will leave its historical mark after Friday's launch is to be seen.
      AP  -  874 words
    • 385 4  -  By CHUANG PECK MING [SINGAPORE] Pragmatic political leadership with competence, dedication and commitment is above all the key to the Asian Century, according to Senior Minister Goh Chok Tong. There are the good, the bad and the ugly, he said at the wrap up of
      385 words
    • 618 4 AFP [SINGAPORE] From China to Singapore, Asia must nurture a culture of innovation if the region is to emerge as a formidable global player, the World Economic Forum (WEF) on East Asia was told yesterday. With the Cold War over, nations around the world
      AFP  -  618 words
    • 263 4 AFP [SINGAPORE] End the "hypocrisy" that blames China and other developing countries for environmental damage when sustainable development is the collective responsibility of nations, the World Economic Forum on East Asia was told yesterday. China's economic boom has given rise to massive and
      AFP; REUTERS  -  263 words
  • Page 2 Advertisements

  • Page 3 Advertisements
    • 121 3 ORCHARD -SCOTTS RESIDENCES SINGAPORE I 1 =c t .1 iwr <*, 4* A GREAT WAY TO LIVE 1 *'J I Welcome to Orchard Scotts Residences, M Mm where you'll experience the very best M M a m services and facilities that only the world s w jßu. I 4 Mb
      121 words

  • Page 4 Advertisements
    • 1482 4 TANGS C. K. TANG LIMITED (Incorporated in the Republic of Singapore) Registration No. *****0023H NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Annual General Meeting of the Company will be held at RELC International Hotel, 30 Orange Grove Road, Level 5, 506 (Anderson Room) 507 (Stevens Room),
      1,482 words

  • COMPANY NEWS
    • 884 5  -  HOCK LOCK SIEW By R SIVANITHY tee involves compact disc maker SM Summit, which last Tuesday proposed to issue 867 million shares at 15 cents each versus 55 cents now to buy over electronic waste-recycl-ing firm TES-Environcorp. Under the terms of the agreement, the
      884 words
    • 404 6  -  Group's orderbook now exceeds $11b By CONRAD RAJ DESPITE stiff competition, especially from South Korean yards, Singapore's shipyards continue to pull in orders for offshore oil rigs. Keppel Corporation, the World's largest builder, yesterday announced two new orders worth US$534 million. This takes
      404 words
    • 227 6  -  By CHARMIAN KOK CONTRACT manufacturer Autron Corporation announced yesterday that it has agreed to acquire an 80 per cent interest in Chinese electronics manufacturing systems (EMS) company DBG Holdings for US$34 million (5552.2 million). SGX mainboardlisted Autron said that DBG has participated
      227 words
  • Page 5 Advertisements
    • 217 5 HI cnw3' J liftWfm Wklß- lyJ ESKI INTRODUCING TH€ NEW CITROEN GRAND C 4 PICASSO 2.0 L Finally, an intelligent 7-seater that's truly class-leading. With a super-wide panoramic windscreen and sunroof for outstanding visibility, the Citroen Grand C 4 Picasso creates freedom in driving. The clever pneumatic rear suspension system
      217 words


  • Page 7 Advertisements
    • 837 7 if *Wm v#f**~ 1 \F I flH^^^Hi|H "111 I l/-> i SSPafcj 'r^ alMlßißßilißM a*fwTßß**i?- -y*— ~ri gt/mUm < Mind, Body Soul Master-plan Affordable Luxury Setting Standards Founded upon the Mind, Body and Soul concept the Leisure At Leisure Farm you have the option to build the home of your
      837 words

  • SINGAPORE MARKETS
    • Article, Illustration
      944 8 SECURITIES TRADING SCOREBOARD MAIN SDQ TOTAL Up Down Unth Un Down Undi Up Down Until Multi Ind 6 8 4 0 0 6 8 4 Manufacturing 58 116 55 24 18 14 82 134 69 Commerce 21 44 17 13 7 6 34 51 23 Tpt/Stor/Comms 13 22 7 1
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    • 518 8  -  STOCKS ST Index sheds 35 points on Wall Street woes, China slide and Citigroup's market downgrade R SIVANITHY Senior Correspondent Source: Bloomberg LOCAL stocks yesterday finished sharply lower, the victims of a triple whammy involving Wall Street's Friday woes, slides in Hong Kong and China,
      Source: Bloomberg  -  518 words
    • 400 8  -  Compiled by UMA SHANKARI UOL Group June 25 dose: $5.90 CIMB RESEARCH. June 25 UOL is on an aggressive land bank trail, with its latest acquisition being Oakswood Heights. To be developed with Spottiswoode Apartments, we estimate attributable gains of $98 million from this project. Current residential take-up
      400 words
    • 252 8 CHART POINT Source: NextMEW Kelive Research MARKET activity this week will likely be dominated by US housing data in the first half and the US FOMC statement on Thursday. The Federal Reserve is largely expected to maintain its tilt towards inflation
      Source: NextMEW; Kelive Research  -  252 words
    • 526 8  -  CURRENCIES LARRY WEE Senior Correspondent Source: Reuters IT WAS the turn of the low-yielding Swiss franc and Japanese yen to make a comeback versus the US dollar yesterday, while erstwhile Asian favourites like the Indonesian rupiah and Malaysian ring- git slipped. Indeed,
      Source: Reuters  -  526 words

  • COMPANY NEWS
    • 996 9  -  COMMENTARY United Test Assembly, Global Testing, Aztech Systems and Santak Holdings among undervalued stocks OH BOON PING Reporter THE wave of takeover activity in the tech sector looks set to grow stronger in the coming months, as several stocks in the industry remain
      996 words
    • 306 9 YELLOW Pages independent directors (IDs) have asked shareholder Stanley Tan to spell out his growth plans for the company, so that other shareholders can take them into account when they vote on Thursday. That is the day for an extraordinary general meeting called by Mr
      306 words
    • 436 9 Xpress to raise $25m in convertible bonds XPRESS Holdings has inked a subscription agreement with Credit Suisse (Singapore) to raise up to $25 million through an issue of convertible bonds in two tranches, to fund its expansion in the print markets in China and the region. The bonds
      436 words
    • 718 5  -  Hedge fund Clean Resources Asia's focus on clean technologies paying off By MATTHEW PHAN LATE into the interview, Andrew Pidden, chief investment officer of the Clean Resources Asia (CRA) hedge fund, says something that throws this reporter off. "I'd be delighted if there were
      ARTHUR LEE  -  718 words
    • 285 6  -  Bank is also considering extending service at M'sian branches By ARTHUR LEE SUNDAY banking appears to have caught on in Singapore with OCBC doubling its number of branches that offer full service banking on that day. Since OCBC started its Sunday banking-last November
      ARTHUR LEE  -  285 words
  • Page 9 Advertisements
    • 478 9 p Interest rate portfolio EURIBOR: Open for business in Asia i l W EURIBOR Open for business in Asia Euronextliffe has extended the trading hours of its To find out more: flagship contract the EURIBOR Futures Contract Singapore office: +65 6322 1410 into the Asian trading day. singapore@liffe.com Now. the
      478 words

  • REAL ESTATE SUMMIT
    • 345 10 Group's assets under management could hit S$l7b to S$18b by the end of 2008, says CEO Reuters [SINGAPORE] Capita Land. Southeast Asia's most valuable developer, is set to launch two more property funds this year that will invest in
      Reuters; FILE PHOTO  -  345 words
    • 428 10 Optimistic outlook buoyed by investor appetite for Asia properties: PruPIM Reuters [SINGAPORE! Asia's first open-end property fund is likely to see its assets grow to over US$l billion from the current US$6OO million in the near future as investor appetite
      Reuters  -  428 words
    • 206 10 Reuters {SINGAPORE] RREEF, one of the world's biggest property fund managers, will spend at least 30 per cent of its future private equity funds in Asia, with Japan, China and India its favourite markets, an executive said yesterday. Speaking at the Reuters
      Reuters  -  206 words
    • 387 10 TSI Ventures wants to quickly expand to six Indian cities Reuters [SINGAPORE] An India joint venture between private US real estate firm Tishman Speyer and ICICI Bank could tap global investors to raise a new fund, a company executive said yesterday.^
      Reuters  -  387 words
    • 200 10 Reuters [SINGAPORE] Australian real estate manager MacarthurCook Ltd said yesterday that it is likely to list another real estate investment trust (Reit) in Asia with potential assets of offices, residential properties or healthcare facilities. It also said that its Singapore Reit will likely make its
      Reuters  -  200 words
  • Page 10 Advertisements
    • 1398 10 CATS NOTICES In The Matter Of The Companies Act, Cap. 50 And In The Matter Of Cheong Wing Investments Pte Ltd Company Reg. No. *****1504R (In Members' Voluntary Liquidation) Members' Voluntary Winding Up At an Extraordinary General Meeting of the Members of the abovenamed Company duly convened and held at
      1,398 words
    • 564 10 CMS UMS HOLDINGS LIMITED (Company Registration No. *****0340R) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Company will be held at 23 Changi North Crescent Singapore *****6 on Thursday, 12 July 2007 at 10:00 am.for the
      564 words

  • SINGAPORE NEWS
    • 104 11 Reuters SINGAPORE'S consumer prices rose a seasonally adjusted 0.4 per cent in May from April, government data showed yesterday. The increase follows unchanged data in April from March. The May CPI was one per cent higher than a year earlier, the Department of Statistics said in
      Reuters  -  104 words
    • 350 11  -  By CHARMIAN KOK THE increase in Nets fees to be paid by retailers is not an abuse of market power by the system's operator, the Network for Electronic Transfers, the Competition Commission of Singapore (CSS) has ruled. The CSS said yesterday it had cleared
      350 words
    • 500 11 Economists put growth at 10.2%, compared to 18.8% for April Bloomberg [SINGAPORE] Singapore's industrial production probably slowed in May as easing manufacturing by electronic makers countered output increases at pharmaceutical plants. Manufacturing, which accounts for a quarter of Singapore's US$l34 billion economy, rose
      Bloomberg; FILE PHOTO  -  500 words
    • 578 11  -  Despite volatile market, newcomers hope to ride on commodities boom By RONNIE LIM MORE financial institutions and banks are setting up oil broking and trading operations in Singapore to ride on the global commodities boom. The new entrants include companies like
      578 words
  • Page 11 Advertisements
    • 194 11 p—wbc! r^ir T?^r r i Irt mi T m:;^i:,^|^^H VTiV |l |Bj]B aliii ft B IHI |«> "II i— MlliM—l lIVV W AIRLINE INDUSTRY ATW Airline of the Year I BB^[^3fflffißj^^E^Sß!B3MflSßB3mi 1 ||||ll| iiy**, Flight No Dep _Arr Flight No City Pep Ait Flight No City Dep Ait Flight No
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  • SME SPOTLIGHT
    • 1185 12  -  More restaurants to come up around the island, managing director Devin Kimble tells NANDE KHIN NANDE KHIN TAKE a walk along Riverside Point on a Friday or weekend night, and chances are that you would have to wait for a table at three of the restaurants
      YEN MENG JIIN  -  1,185 words
    • 601 13  - Electronics maker ready to expand SMALL CAPS Valuetronics will offer both upstream and downstream assembly, says OH BOON PING OH BOON PING VALUETRONICS is seeking to expand its business with a manufacturing plant in Guangdong. The Hong Kong electronics manufacturer, which is listed in Singapore, focuses on PCB assembly and
      601 words
  • Page 12 Advertisements
    • 366 12 LfiißM »> Dr John Naisbitt WmgT Tjtim Renowned futurist, global thinker, and international best-selling author of Megatrends and Megatrends 200 Q. He has experience in top management, in politics through pH? 1 appointments by US Presidents Kennedy and Johnson, X and as an entrepreneur. He has lived in three continents
      366 words
    • 64 12 N —l AMPL Global Network Pte Ltd Mi w y Responsive, flexible and reliable logistics that PUT YOU AHEAD OF YOUR COMPETITION. Warehousing, local distribution and freight forwarding services that get you v to market faster, improve profitability and seize new and ad-hoc opportunities. > 167 Pasir Panjang Road, #01-06/06
      64 words

  • Page 13 Advertisements
    • 185 13 SI action ralv community for entrepreneurship Blue Sky festival 2007' It's All About Funds and Business Opportunities eet ex P erts rom leading financial institutions for the latest in SME loans u 9V j 19 July 2007,9 am spm, Shangri-La Hotel pr ~IM and equity financing. Find out how your
      185 words

  • ARTS FEST
    • 570 14  -  Festival Fantasia's young soloists showed their undeniable talents, writes LINDSAY VICKERY LINDSAY VICKERY ALTHOUGH declaring itself to be fashioned in the style and spirit of London's Last Night of the Proms concert and despite the ebullient style of conductor Chan Tze Law Festival Fantasia
      570 words
    • 478 14  -  By PARVATHI NAYAR AS their contribution to the Singapore Arts Festival palette, The Esplanade programmed a series of fun, alternative events which have been well-received especially the zany combination of Japanese electricians and music titled Mechatronica. It was, therefore, with high
      478 words
    • Article, Illustration
      108 14 Visual Arts: Check out a variety of installations from local and international artists. Domestic Bliss: Exploring the Myth of the Happy Home, 1 lam to 6pm, until Aug 5. Sculpture Square Project: Eden, The Azhianti "High Lighting, 11am to 8pm, until July 5, Nanyang Academy of Fine Arts
      108 words
  • Page 14 Advertisements
    • 67 14 ydßtt/^yy^^L B t t The Legends Fort Canning Park 11 Canning Walk Singapore *****1 fnb@legendsfortcanningxom www.legendsfortcanning.com ■■ft Diners Club Card To apply, ca*****6 0980 A World of Exclusive Privileges Treats Diners Club L wunc.dinero.com.sg InternationalRevolving R-ITIJS Restaurant v M^ICAWN Singa Cuisine 920 East Coast Parkway. Tel: 6345 1111 20% off
      67 words
    • 34 14 Plaza Brasserie Parkroyal PLAZA Parkroyal on Beach Road. 7500 Beach Road. Tel: 6290 8218 fosiUXJ.A<2-sijL<z- Saturday Specials: 2 adult lunch buffet at $39.80 Only when you charge to your Diners Cluh Card T&C Apply
      34 words
    • 36 14 Casa Mediterranea Restaurant and Bar 83 Duxton Road (inside Berfaya Hotel), Tel: 6221 8485 15% off total bill with a min. spending of $30 J. Only when you charge to your Diners Club Card T&C Apply
      36 words

  • Page 15 Advertisements
    • 72 15 1 J, fcj| {jfjj The legendary 24 hours of Le Mans world's lift hardest, longest and most damarbus race. PS$ GR# JsT \MB Yet our seventh victory proves again J| A k «L iJT S what Audi drivers already finivv. If Jft ILdCiJi ftv '''3 a M, ws. Mm wMbMm--
      72 words

  • ECONOMY WATCH
    • 3994 16 UNIT TRUSTS FUNDS jjjssssssas i™ as if™ s wS; §3SS'i Vl sSiS 33 ASAitw Income B a* ZZZZ .633/ SJJ« SoS IS? 128 3226/ fiSIX SS!« u«) JAtt WVtSCCi c£*5 W A 1JJV (d U50 _lo27r uO* MUM wmiMm* Bead H ,tS*£o3S3 JSK r£E 513 ISsims ,.,v jMtt«===SB SS& W0
      3,994 words
    • 627 16 It's necessary to contain inflation in this 'golden age' of economic growth Bloomberg [BASEL] Central banks will need to continue raising interest rates to quell inflation as the "golden age" of global economic expansion continues, the Bank for International Settlements (BIS) said.
      Bloomberg; BLOOMBERG  -  627 words
  • Page 16 Advertisements
    • 48 16 Allianz Global Investors one of the world's largest asset managers with more than US$1.2 trilion assets under management as at 31 December 2006. SCORE IN EMERGING MARKETS Jf^\ Try our on ine quiz at www.franklintempleton.com.sg and win attractive prizes! TO^PLETON INVESTMENTS *Terms and conditions apply. BIZREGN NO.: *****5211
      48 words

  • MALAYSIA
    • 533 17  -  But the EU envoy denies making a call for M'sia to scrap its NEP policy B y S JAYASANKARAN in Kuala Lumpur A DIPLOMATIC spat could be looming between Kuala Lumpur and Brussels after European Union envoy Thierry Rommel criticised Malaysia's New Economic Policy
      533 words
    • 2483 17 VOL Jim 25 RM *1- C000) ASM Realty 2.63 -0.02 25 Abrk Bhd 0.30 unch 38 Advance Synergy 0.38 0.04 ***** Adventa Bhd 1.49 0.06 3228 Ae Multi Hldgs 0.33 -0.01 78 Affin Holdings 2.42 0.04 2480 Ahmad Zaki Resou 3.44 0.04 167 Aic Corp 0.55 unch 0
      2,483 words
    • 551 17  -  Lifting of controls runs counter to price cap on low-cost homes: builders By PAULINE NG in Kuala Lumpur PROPERTY developers is seeing red over a government move to regulate the price of cement and steel through a proposed automatic pricing mechanism (APM). A lack
      551 words
    • 411 17 AP [SINGAPORE] Chances of an alliance between Malaysian national carmaker Proton and Germany's Volkswagen AG are "reasonably good", a Malaysian Cabinet minister said yesterday. The two carmakers may hold a third round of negotiations, although no timetable is set for conclusion of
      AP; AFP  -  411 words
  • Page 17 Advertisements
    • 1055 17 i I CCMART ANNOUNCEMENT ESMART HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****2393E) NOTICE OF BOOKS CLOSURE DATE FOR NEW ADJUSTMENTS PURSUANT TO THE TERMS AND CONDITIONS OF THE WARRANTS OF ESMART HOLDINGS LIMITED (THE "COMPANY") IN CONNECTION WITH THE RIGHTS ISSUE Where capitalised terms are
      1,055 words

  • GREATER CHINA/INDIA
    • 167 18 [NEW DELHI] A committee comprising some of the country's leading custodians is studying ways to reduce the time taken for allotment and refunds in initial public offerings (IPOs) and dividend payouts by companies, Business Standard reported. The group expects to submit its report
      167 words
    • 288 18 AP [BEIJING] China is tightening controls on foreign takeovers of Chinese companies, adding a requirement for national security reviews to a proposed an-ti-monopoly law, news reports said yesterday. Beijing stepped up scrutiny of foreign takeovers after an uproar in 2005 over US investment fund
      AP  -  288 words
    • 408 18 Investors include tycoons Li Ka-shing, Lee Shau Kee Reuters, Bloomberg [HONG KONG] China's biggest privately owned conglomerate, Fosun International, has filled its Hong Kong institutional investor book on the first day of marketing for its US$l.4 billion
      Reuters,; Bloomberg  -  408 words
    • 307 18 Reu ters [BEIJING] Standard Chartered pic said yesterday that China could be its largest market for private banking within 10 years, as the Asia-focused bank looks to leverage its growing list of corporate customers. "I believe China will be the biggest contributor
      Reu ters  -  307 words
    • 598 18 Bloomberg [SINGAPORE/MUMBAI] ICICI Bank. India's largest by market value, said it will be able to increase its assets by as much as 30 per cent this year as economic growth spurs demand for loans-in the fastest-growing major economy after China. ICICI
      Bloomberg; AFP  -  598 words
    • 207 18 [NEW DELHI] The Indian government has decided to build 600 km of highways to provide connectivity for the 12-million-tonne-capac-ity Posco steel plant proposed to be built in the eastern state of Orissa, The Economic Times reported. When completed in 2010, the
      207 words
    • 547 18  -  But errant officers are more likely to be compulsorily retired than dismissed B y JANE MOIR in Hong Kong ONE in three dismissals in Hong Kong's civil service over the past seven years have involved graft, forgery, deception or theft, new
      547 words
  • Page 18 Advertisements
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      64 words

  • ASIA-PACIFIC/WORLD
    • 884 19 They expect cost savings of 29m euros a year to be reached from 2010 Bloom berg [LONDON] London Stock Exchange Group Pic (LSE), Europe's third-largest exchange, agreed to buy Italy's Borsa Italiana SpA for 1.63 billion euros (553.3 billion) in shares as
      Bloom berg; AFP  -  884 words
    • 610 19  -  By NEIL BEHRMANN in London GLOBAL stock and bond markets have been rocked by the Bear Stearns hedge fund crisis, the worst since Long Term Capital Management in 1998. Prices of Bear Stearns and other investment banks tumbled on Friday following a Bear Stearns
      610 words
    • 372 19 LATEST US DATA Bloomberg [NEW YORK] Sales of previously owned homes in the US fell in May to the lowest in almost four years, reinforcing concerns about a protracted housing slump. Purchases last month declined 0.3 per cent to an annual
      Bloomberg  -  372 words
    • 277 19 AP [OMAHA, Nebraska] Last year's bidding for lunch with legendary investor Warren Buffett topped U*****,000, so who knows how much it will cost this year. The online bidding began at U5525,000 on Sunday night in a charity auction that benefits the Glide Foundation,
      AP  -  277 words
    • 184 19 AFP [TOKYO] Japanese Prime Minister Shinzo Abe will visit India, Indonesia and Malaysia in August, the government said yesterday, as he tries to nurture a closer alliance with New Delhi and builds on South-east Asian ties. The Japanese leader will travel
      AFP  -  184 words
    • 412 19 AP [MANCHESTER] Gordon Brown vowed to change Britain to meet new priorities as he took over leadership of the Labour Party from Tony Blair on Sunday, days before he becomes prime minister. The Treasury chief, who will succeed Mr Blair as British
      AP  -  412 words
    • 242 19 Reuters [CHICAGO] Drugmakers are working on experimental diabetes drugs using a novel mechanism to help flush excess blood sugar out of the body, according to results of small studies presented at a medical meeting on Sunday. Bristol-Myers Squibb hopes their drug, known as dapagliflozin,
      Reuters  -  242 words
  • Page 19 Advertisements

  • AVIATION
    • 580 20 US carriers are on the mend after years of losses; their actions pay off Reuters [CHICAGO] As frustrated as travellers may be with crowded planes and delayed flights, these are the realities of the leaner US airline industry as it
      Reuters; AP  -  580 words
    • 281 20 Reuters [BANGKOK] Thai Airways International said yesterday it expected a 3-5 per cent rise in revenues in the year to September 2008 from the 200 billion baht (559.5 billion) expected in the previous financial year. The national carrier should earn a net profit
      Reuters  -  281 words
    • 2375 20 CITY FUftHT ETA FLIGHT ETD Aka MMM S0455 1230 MM LH9771 1750 LH9770 2345 SQ268 1750 SQ269 2345 tmm*m4m* L***** 0630 AZ3993 2245 SQ323 0630 KL838 2245 AZ3992 1555 L***** 2345 KL837 1555 SQ324 2345 JSmm 1 SQ348 0100 N117TF 2230 *55 AC5202 2335 AC5203 0645
      2,375 words
    • 488 20 AFP [LE BOURGET, France] Airbus cast aside worries about the future of two of its new aircraft and broke records at the 47th Paris Air Show with a haul of 728 orders, allowing it to nose past its arch-rival the US
      AFP  -  488 words
    • 182 20 Bloomberg [MANILA] Philippine Airlines, the nation's biggest carrier, plans to spend as much as US$5O million to start operations at an airport north of Manila within the next three years, its president, Jaime Bautista, said. The airline, controlled by the second-richest Filipino, Lucio Tan, will lease
      Bloomberg  -  182 words
  • Page 20 Advertisements
    • 146 20 BT/ZUJI Deals of the Week BUSINESS CLASS (from ECONOMY CLASS (from HOTEL (from Shanghai $1,500 $402 j $52 Thai Airways Thai Airways DESTINATIONS BUSINESS CIASS from S) ECONOMY CLASS (from HOTEL (from WEATHER Ho Chi Minh $538 (Vietnam Airlines) $162 (Royal Bwnei Airlines) $126 Rain Xiamen $1,050 OtomMrt $»C9tt> $92
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  • Page 20 Miscellaneous
    • 229 20 CRYPTIC CROSSWORD 9.Press one wavering to give anLJ 1h LJ 28 Stucco covering one Roman 10 u nn f c 8 Curse former wife before end 23 In smithy, bride's cross (6) 29 Smells of money, say (6) Q ,jj vorce case (8) 26 Cross current with speed (5) 30
      229 words

  • SHIPPING/AVIATION
    • 724 21 From huge discount to HK shares, Shanghai shares seen trading up Reuters [SHANGHAI] Shares in shipping firm China Cosco Holdings are expected to surge about 70 per cent when they debut in Shanghai today, buoyed by the firm's strong
      Reuters; BLOOMBERG  -  724 words
    • 502 21 Draws include tiltrotors, mega-jumbos, space runs AP [LE BOURGET, France] Fancy a helicopter-plane hybrid you can launch from your lawn? Yearning to fly in the world's biggest passenger jet all by yourself? How about shooting into orbit at a cost of up to
      AP  -  502 words
    • 243 21  -  By ALEC ALMAZAN in Manila CHINESE shipping and logistics company Cosco is planning an extensive shipping complex in the former US naval station of Sangley Point about 12 km southwest of Manila. An indication of how serious Cosco is in pursuing the venture
      243 words
    • 173 21 Reuters [COPENHAGEN] Danish shipping and oil group A.P. Moeller-Maersk said yesterday that its APM Terminals unit will lead a joint venture to develop, own and operate the Shenzhen Dachan Bay Phase 2 container terminal in China. APM Terminals will hold 51 per cent of the
      Reuters  -  173 words
    • 223 21 Campaign aimed to promote UAE city's business, tourism Bernama [DUBAI] The United Arab Emirates' (UAE) national airline Etihad Airways has joined forces with the Abu Dhabi Tourism Authority (ADTA) on a roadshow across the Gulf Cooperation Council (GCC) countries to promote Abu
      Bernama  -  223 words
    • 198 21 The world's 4thlargestyard may cost up to US$1.65b Bloomberg [SINGAPORE] Hanjin Heavy Industries and Construction Co Ltd, the first South Korean company to export ships, may spend as much as US$l.65 billion to build the world's fourth-largest shipyard in the Philippines, Philippine
      Bloomberg  -  198 words
    • 321 21 Bloom berg [LONDON] The cost of hiring supertankers to transport Middle East crude oil on the busiest shipping route to Asia, which fell every day last week, may extend its decline as demand for July cargoes fails to
      Bloom berg  -  321 words
    • 271 21 mx m* mmm j»a w- yd Ch Offshore 0.77 -051 7784 ChuanHupHldgs .041 -0.01 9199 C«co Corp 3.78 -0.12 7645 Cwt Limited 151 -0.02 2450 EzraHldgt 550 -0.10 «1 Freightunks 0.15 -0J31 ***** Grand tanks 1.12 -0.03 70 Java Hold Ud 155 unch 307 K1 Ventures .033 unch
      271 words
  • Page 21 Advertisements

  • EDITORIAL & OPINION
    • 1077 22  -  The emergence of an affluent and aspiring middle class in South Korea, Taiwan and China is driving sales in Asia, the fastest growing market for high-end goods By BARBARA WALL IHT AS the rich get richer and demand for the finer things in
      IHT; AP  -  1,077 words
    • 462 22 EDITORIAL THE conventional wisdom is that no real alternatives to fossil fuel exist in the near future. So a report from the United Nations showing that sustainable energy markets have become more liquid, more globalised and more mainstream is most welcome. The United Nations Environment Programme
      462 words
    • 811 22  -  THE BOTTOM UNE ROBERT SAMUELSON IT'S one of those vast social upheavals that everyone understands but that hardly anyone notices, because it seems too ordinary: The long-predicted "cashless society" has quietly arrived, or nearly so; currency, coins and cheques are receding as ways of
      811 words
    • 1690 23  -  Asia-Pacific is moving in a direction consistent with the global trend of deriving a higher proportion of revenue from indirect taxes KOH SOO HOW W deadline loombusinesses are busy preparing services tax) hike. While reactions to the government's announcement to raise the rate by two
      FILE PHOTO  -  1,690 words
    • 823 23  -  As the government embarks on a major privatisation drive, making the financial services sector more agile is part of its strategy By KARINA ROBINSON IHT HOW do you privatise a bank that has been blacklisted by the US government for allegedly funding "terrorist'* groups? That is
      IHT  -  823 words


  • 10525 24 SGX MAINBOARD Transaction date: Jun 25 52-wks Tel Last Vol Day Last Quote Mv GrVtd Nat M Cap Mfk LaS Code Compaay Sale (HI) Mfk law layer S Cw WE _J 3.5 2 5716 1st Software J susp J4 20.5 6 3148 BTelecom -115 -1 750 19 18.5
    10,525 words

  • 5371 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In SS In USS dy yr *dy yr dy *yr Jun22 Index Change Change Change Change Change Change World Index Preliminary 1181.5 -0.5 74 14 -0.4 8.1 t EAfE Preliminaty 1193.1 ;0.4 7.7 -0.2 8.8 -03 8.4 Europe Preliminary *****
    5,371 words
  • Page 25 Advertisements
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      198 words

  • Page 26 Advertisements
    • 1594 26 UK CONTINENT SERVICE U.S.A SERVICE Destination /c MARITIME MASTER RDM/ATW/UK STXPOTBN CAM/NFK/NOL/SAV Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIPPLE-EAST SERVICE REJS.E.A. SERVICE Destination Destination LAURADA DBI/ABU/DOH/BRN/DMM/KWT BRIGHT MORNING INC/BSN Loads Singapore, E./W. Malaysia, Indonesia Lxxxis E. Malaysia, Indonesia OTHER SERVICES Tramping for bulk, breakbulk, mineral ores, project
      1,594 words
    • 420 26 yßn WALLENIUS WILHELMSEN LOGISTICS website: http://www.2w9lobal.tom VESSEL VOY RAMP HEIGHT SIW IK MAO SAV Af 719 3201 MS 4.4 M 27/04 21/07 29/07 02/01 04/01 0«/0« TEXAS AF72I 4201 MM 4.4 M 12/07 OMIT 10/00 22/00 25/00 25/00 TAMIR LAM Af722 1201 m Ml 20/00 29/00 02/91 04/09 04/00 *N«wY«rfcl
      420 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 4727 27 This ETA HA Advertiser Vessel Voyage Telephone SIN Desfn Name Name Number Number To ABU DHABI (AUH) 2004 U. A. Emirates 03/07 14/07 SCI SCI DIYA 725W *****355 08/07 19/07 SCI EMIRATES KANAKO 726W *****355 To ADELAIDE (ADL) 2007 Australia 08/07 27/07 China Shpg
      4,727 words
  • Page 27 Advertisements
    • 746 27 WAN HAI INTERNATIONAL PTE LTD aNO 1U*****000/* tiff AM MAI llAirr T1L*****5M (14 UNES) FA*6224UM V\M 1 WAN Hill LINES G ,omw Service/took^sDirsdLi*-(1800)*****200 Y V HQ 111: (OS334tttttHUL(O3)*****2SSKM TCL (04)*****00HUL(W172H1W V JOHTt (07) *****23 HUL (07J251W21 SID W: (031) 32W475 FAX: (031) 32*7714/ 37*1305 WWW wanhoi (OIK SO *T IB;
      746 words
    • 978 27 I VISSII VOY m I SIN I KHI I DXB RAB PMM UK HHP IRAN SATTARI PCU2O4 03/07 04/07 13/07 14/07 17/07 23/07 25/07 27/07 IRAN TABATABAEI PC***** 06/07 07/07 16/07 19/07 20/07 26/07 21/07 30/07 IRAN RAA4AEI PCLB2O7 J 6/07 17/07 26/07 29/07 30/07 03/OA 07/04 09/03 I VESSEL
      978 words
    • 635 27 w WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTS WSSEL I WT I SHI I PJtUWG I COLOMO jg I COLOMO~ lauftmu 10(1S2 2UUH SHI M fiWiL UU!IL_ KAJIV GAWWI OlliW 03 JUL MM 07 JUL 11JW, |}ffl WHW 011W WJUL 10 JUL 13 M
      635 words


  • Page 29 Advertisements
    • 116 29 Land Area: Approximately 1,878.7 sm or 20,222 sqft Floor Area: Approximately 320 sm or 3,444 sqft Zoned "Residential" (Under the Master Plan (2003) Edition, the subject property is within the designated Mountbatten Road Conservation Area) Freehold, Rectangular-shaped land Selling with vacant possession Estate Auction by Court Order on 29/6/2007 (Fri)
      116 words
    • 219 29 THE SAIL MARINA BAY 38th FLOOR FOR SALE r r~ X? /J II ~0 7 units on a whole floor I TbOdwiW/W /i' Sr^ n '4 Sizes from 614 sf to 2.260 sf 5 Q /o jg 7 i Total Area 7,201 sqf Excellent proximity to the future Fantastic Investment
      219 words
    • 320 29 FREEHOLD SITE FOR SALE sprtngM. —1 Address: 217 Upper Buklt Tlmah B—l \#)v SouWiMn I Di-u-iH ROCld Site Area: approx 15,223 sf Redevelopment Potential: M* Commercial development A7X (Gross Plot Ratio: 1.4) ta* ////>®v Ideal for shops/ofltees/showroom vmy// Is/ \A Regular layout with good frontage Convenient access to PIE Tel:
      320 words

  • Page 30 Advertisements
    • 173 30 8 River Valley Close 128,300 sq ft of Prime Freehold Residential Land in District 9 {BgOOlSl Rivergate Tribeca Singapore Great World The Trillium The Cosmopolitan (u/c) (u/c) River City (u/c) (u/c) 0/gffKtUMl^Ki Collective Sale of a m r s Pacific Mansions O Grand Hyatt Hotel O Park The Hotel Istana
      173 words

  • PROPERTY
    • 388 31 Reuters [SHANGHAI] HSBC Holdings, the world's fourthbiggest bank, said yesterday it will occupy 53,000 square metres of new office space in Shanghai's financial district for its China headquarters. The bank will take 20 floors at the Shanghai IFC complex, which is
      Reuters; REUTERS  -  388 words
    • 398 31  -  Residential prices expected to continue rising 4-6%, says CBRE By UMA SHANKARI [SINGAPORE] The number of new homes sold in the second quarter of 2007 could exceed 4,300 units, but still less than the 4,800 homes sold in the first quarter,
      Source: URA CBRE Research  -  398 words
    • 565 32 It eyes retail, commercial Reits within 2 years, says CEO Riady Bloomberg [SINGAPORE] Lippo Group plans to sell shares in real estate investment trusts that will buy as much as US$5 billion of its Asian assets, freeing up capital to invest in
      Bloomberg; FILE PHOTO  -  565 words
    • 607 29  -  The residential sites are on Leonie Hill Rd and Upper East Coast Rd By UMA SHANKARI A PRIME commercial site and two residential sites have been put up for sale, the property firms marketing the sites said yesterday. The Riverwalk, a
      607 words
  • Page 31 Advertisements
    • 307 31 ~z^l Land area 104,744 sf; Freehold V mrt Rd GPR 1 4 U P tO 5 store y s PriSch" f Riviera Potential for 83 units x 1,200 sf —lyj\ Junior College Residences"^'/ \i\ Regular-shaped plot V CQBS- jp/ ez jQ r^ 25 —(Subject fe Close to amenities at East
      307 words
    • 313 31 "...CapitaLand Singapore believes that Malaysia will continue to sustain its strong economic performance and will seek to grow our investments through Quill Capita REIT. ...president and chief executive officer Mr. Liew Mun Leong said the REIT, which currently has four properties in Cyberjaya, will look at acquiring other assets in
      313 words

  • Page 32 Advertisements
    • 329 32 For Sale by Tender Prime Residential t Redevelopment Site at Dist 09 sr». v J Scotts Square 7 f P ffn tI Wheelock The Orchard Place Residences o MRT d Wisma A n r» AWa 5/ Dp, MRT i 7 r < v p; K l®{ Rlyrshlre v ToCBD v2L\
      329 words