The Business Times, 25 June 2002

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Total Pages: 26
1 26 The Business Times
  • 15 1 THE BUSINESS TIMES MITA (P) 010/03/2002 85C SINGAPORE I Internet: http://business-times.asial.com.sg TUESDAY, JUNE 25, 2002
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  • 73 1 sn 1537*88 (-8.37) ST INDEX FUTDKES I£4o (-3.42) smsa roTDBEs 19L00 (-1.20) STOCK MARKET INDICES Monday Change KLSECOMP 726.50 -16.85 NIKKEI 225 —10,***** *116.97 HANG SENG 10,667.34 +65.48 SET INDEX ***** -1.58 JAKARTA COMP -61R81 -7.06 MANILA COMP .1,214.26 +0.11 TAIPEI WPI 5,384.89 -75.64 SEOUL COMP 767.92 -10.61
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  • 71 1 PMfflX BATES US* ss US$ (S$ per L'S$) 1.765 £(USS/S$ per 1.506 2.657 El RO(l;S$/S$/E). 0.977 1.724 DM 2.216 1.255 YEN 121.4 68.80 RM 3.800 1153 HKS 7.800 4.419 BAHT 41.80 2168 RUPIAH 8,595 4,869 PRIME BATES SINGAPORE* 525 KUALA LUMPUR 6 40 HONGKONG 5.125 JAKARTA 39.00 TAIPEI 6.725
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  • 796 1  -  Proposed offer represents 23% premium to share's last-traded price Byi Conrad Raj [SINGAPORE] In the Singapore stockmarket's latest privatisation move, govern-ment-linked SembCorp Industries (SCI) is proposing to buy out the minority shareholders of its 63 per cent-owned listed subsidiary SembCorp Marine
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  • 698 1  -  By Loh Hui Yin [SINGAPORE] Standard Chartered Bank, which counts Singapore as one of its core markets, plans to do a secondary listing of its shares here after it has done so in Hong Kong, said group chief executive Mervyn Davies.
    CHRIS LOH  -  698 words
  • 606 1  -  Nine of 14 new appointees are from civil service From Audrey Tan in Hong Kong I HONG KONG Chief Executive Tung Chee-hwa yesterday appointed his first batch of hand-picked principal officials, with former banker Frederick Ma and businessman Henry Tang named
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  • 805 1  -  HOCELOCESIEW Investors need to know who exactly is steering the ship, says CATHERINE OMQ CATHERINE OHG WEE Cho Yaw must have chuckled at the news. Another foreign talent at a major rival bank has joined the list of "fallen talent". From where Mr Wee
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  • Page 1 Advertisements
    • 197 1 ntgPB Top Stories Creditors seek judicial manager for APP. Pg 3 Govt adds three 99-year leasehold sites to reserve list. Pg 6 w, S&P report throws doubt on smooth US$ slide. Pg 6 Shipping Times Ports not offering cargo pre-screen-ing may lose out. Pg 1 China stocks surge 9% 8
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    • 8 1 Market takes DBS changes in stride, Pg 3
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  • NEXT page
    • 446 2  -  His resignation and apparent retraction weighs on market; analysts From 1 Eddie Toh in Kuala Lumpur THE Malaysian stock market tumbled 2.3 per cent yesterday on uncertainty about the future of Prime Minister Mahathir Mohamad, who announced his resignation on Saturday only to see
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    • 556 2  -  ■fi exclusive WORLD CUP Satellite firm took some 17,000 hoars of bookings Byi Catherine Ong [SINGAPORE] US-BASED satellite operator PanAmSat has scored big with the World Cup. It has sold more than 17,000 hours of video transmission time to broadcasters a record
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    • 176 2 Reuters [SEOUL] Millions of South Korean "Red Devil"fans prepared yesterday for the penultimate stop on their incredible World Cup journey and easily Asia s most important soccer match yet their team s semi-final match against Germany today. Win or lose. South Korea will
      Reuters; REUTERS  -  176 words
    • 87 2 PNE Micron Holdings' loss per share for the six months ended March 31 was 0.12 of a cent, not 12 cents as reported in the article "PNE Micron sinks into loss in HI" on June 22. And in yesterday's report "Putting wind beneath their wings", ST Aero's training expenditure
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    • ON THE grapevine
      • 48 2 MALAYSIAN Prime Minister Mahathir Mohamad's abrupt on-off resignation was quite an international talking point at the weekend. A headline in Britain's Sunday Times newspaper summed up what must have been, to most observers, a baffling development. It read: "Malaysian leader quits, cries, returns."
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      • 190 2 THE Phang family of Malaysia was so upset by Dr Mahathir's attempted resignation that it took out a full-page advertisement in New Straits Times yesterday to extol "our great leader". Beneath bold headlines that read: "Dr Mahathir's resignation", and "The nation shocked", the text kicked off with
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  • Page 2 Advertisements
    • 203 2 DREW NAPIER llc ADVOCATES SOLICITORS TRADEMARK PATENT AGENTS presents a seminar on Arbitration what you need to know Opening Remarks Joseph Grimberg, Senior Counsel Domestic Arbitration in Singapore Hotel Inter-Continental, Christopher Chuah, Director and Head of Building and Ballrooml Construction Business Group changes and procedures introduced in The Arbitration Act
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    • 16 2 Dr M may take on transitional role, Pg 10 Moody's may upgrade KL's ratings, Pg 11
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  • SINGAPORE companies
    • 552 3  -  The bank's shares closed 10 cents lower at $12.70, in line with the broader market By\ Siow Li Sen THE stockmarket yesterday took the changing of the guard at DBS Group Holdings in its stride, although the news was the talk of the town
      552 words
    • 356 3 Reuters TWO bank creditors of debt-laden Asia Pulp and Paper dropped a big surprise on the troubled Indonesian company yesterday by launching a legal action in Singapore to replace the current management. The move followed months of inaction in negotiations between an umbrella steering
      Reuters  -  356 words
    • 554 5  -  They say they gain little in nnit's IPO while Nera plans discounted shares for staff, directors By. Angela Tan NERA Telecommunications Ltd may be confronted by some disgruntled shareholders today at its extraordinary general meeting to seek approval for the listing
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    • 394 5  -  By' Vince Chong UPMARKET interior fit-out firm City Axis Holdings has received in-principle approval to float on Sesdaq, making it one of a handful of firms which have gone for an initial public offering (IPO) in the current downturn. City
      394 words
    • COMPANY Briefs
      • 79 5 Reuters uk.p group 2>t Engineering is considering a bid for SR Technics, the maintenance, repair and overhaul arm of failed carrier Swissair, according to Merrill Lynch. "We understand that ST Aerospace was evaluating whether to participate in a bid for SR Technics," the
        Reuters  -  79 words
      • 115 5 FROM today, customers on Mi's range of post-paid plans will see the previous peak-hour rate of 20 cents a minute slashed to 10 cents a minute after the first minute. And the super off-peak rate of five cents a minute will be extended to cover 24
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      • 71 5 MAINBOARD-listed SLA Engineering Company has exercised an option to acquire an additional 10 per cent stake in Rohr Aero Services-Asia, bringing its holding in the latter to 40 per cent. SIAEC paid US$5.6 million cash for the additional 10 per cent stake. RASA operates
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      • 61 5 LKN-Primefield says it has filed objections against recent assessments by the Inland Revenue Authority of Singapore (IRAS) for year of assessment 1996. It says it received an $18 million assessment in relation to an extraordinary gain from the sale of land at the former Hotel Equatorial. It
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    • 328 5  -  By Catherine Ong A MEETING held to approve the sale of Nat Steel Broadway to the Flextronics group yesterday went without a hitch but directors faced a grilling from a handful of shareholders on another subject a proposed management buyout for the parent
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    • 227 5  -  By Aaron Low SESDAQ-listed Sincere Watch yesterday reported a 73 per cent jump in full-year 2002 net profit to $16.3 million. Turnover also grew, rising 12.4 per cent to a record $195.1 million, while earnings per share rose substantially to 25.04
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  • Page 3 Advertisements
    • 610 3 ptoCQ/VATERHOUsEfOOPERS i Standards Itoard (lAS«).SAS and INT are closely based on lAS and SIC and any developments in lAS andjK are current!)rbemg adopted m Singapore with m.nimum delay. Accounting practices of companies in&ngapore are also increasingly under closer scrutiny by investors and regulators. Keeping abreast of the recent and impending
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  • SINGAPORE markets
    • Article, Illustration
      303 4 OTHER SINGAPORE INDICES Jun 24 VALUE CLOSE BTO&OS -570.00 -70.CX) WCW -*****.00 -44.00 BTHHayMA -*****.00 -57.00 AB-SG Eqitibw 411.95 -1.17 131.52 -Q.74 SG EqmMm Fin 1346.54 -16.92 M E*«m Prop 388.27 +1.77 WOftippiri 190.62 -1.13 9MSCIIMm 191.00 -1.20 Stock* Volume GoAdtron 5c 15.84^000 15.565.000 SGX 9.060.000 BIL InO US20C 8.106
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    • 287 4  -  HOT STOCK/ WARRANT By Ven Sreenivasan CAPITALAND has been in the news lately as it moves to relaunch its shopping mall trust. It has just announced that it has obtained regulatory approval to list the trust, which analysts expect will
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    • 752 4  -  11 comment STOCKS ven sreenivasan THE Singapore stock market started this week the same way it ended last week feeble and fatigued. Activity was thin amid continuing jitters over Wall Street's volatility and less-than-encouraging US corporate news. This was despite fairly encouraging economic
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    • 598 4  -  I =ii comment CURRENCIES Greenback falls to 2-year low vs euro and 32-month low against Swiss franc larry wee THE US dollar nose-dived again in Asia yesterday after heavy selling last Friday, reeling from remarks by Japanese Finance Minister Masajuro Shiokawa and jitters over
      Source: Reuters  -  598 words
  • 2645 4 UNIT TRUSTS FUNDS Com Global Energy Index Fd 0947/ Com Global Travel Index Fd 0 73* Com S'pore Bond Fund/* i 043/ AW Amro Asset Mgt (S'pore) Star Europe Eqty'* 0 703/ CredH Asset Mgt S pore Ltd Star Europe Bo 1 033/ mdocam Asia Vision'** 0903/0 949 Star Europe
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  • Page 5 Advertisements
    • 247 5 0 Save up to 30*/. on jftN A > Business Class to usa Fly ANA Business Class to USA and enjoy 1 the best of inflight service, peerless facilities i and excellent arrival timings (before All these at up to 30% savings! That's because ANA offers some the most affordable
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  • SINGAPORE news
    • 853 6  -  'White' site next to Serangoon MRT Station picked as most attractive by consultants Reports by Kalpana Rashiwala THE government has added three new 99-year leasehold sites to the reserve list for the second half, including a choice "white" site next to
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    • 274 6  -  the economy inflation By Grace Tan THE deflationary trend in the past seven months eased in May, with the consumer price index (CPI) falling by just 0.3 per cent. The inflation rate which is the year-on-year change in the CPI has been negative since November 2001, as
      Source: DOS  -  274 words
    • 471 6 Plot could fetch np to $100 psf ppr, say consultants THE Urban Redevelopment Authority (URA) yesterday made available for application a reserve site for retail use next to the Singapore Expo in Changi. The 162,770 sq ft site, offered on a 30-year lease,
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    • 503 6  -  Sharp falls if US recovery stalls and Japan, Enroland cannot compensate By I Genevieve Cua STANDARD Poor's MMS Economic Research believes there will be a "smooth adjustment lower" in the US dollar, which has already begun. But in a just released report,
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    • 1016 6  -  maili.TTTI Thomas D Gradisher Public Affairs Counsellor Embassy of the United States of America Singapore I AM responding to the June 18 commentary in The Bottom Line ("Time to look at US crony capitalism") by your Washington correspondent, Leon Hadar. While I disagree with Mr
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  • Page 6 Advertisements
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    • 70 6 We welcome letters. E-mail us at btletter@sph.com.sg or fax us at 6319-6277, 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, so we can verify it came from you. Please use temperate language,
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  • ARTS festival
    • 757 7  -  By trying to cover too much ground, Teater Ekamatra's Malay language play Causeway skirted around issues instead of sinking teeth into them, writes cheahux-hoon CHEAH UI-HOON BOTH a necessity and a nuisance, depending on when you cross it, the Causeway between Singapore and Malaysia is more than
      FILE PHOTO  -  757 words
    • 706 7  -  Bnt the message was lost in all the sound and fury Parvathi Nayar A FRAGMENTED ny that suggested, assaulted and/or engaged. That's one way of describing Memorandum by Japanese artist collective dumb type. Perhaps it could also be one way of
      ST/ ENRIQUE SORIANO  -  706 words
  • Page 7 Advertisements
    • 582 7 NOBLE GROUP LIMITED (Incorporated in Bermuda with limited liability) NOTICE IS HEREBY GIVEN that a SPECIAL GENERAL MEETING of the Company will be held at 18th Floor, Mass Mutual Tower. 38 Gloucester Road, Hong Kong on 12 July 2002 at 11.30 a m for the purpose of considering and, if
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    • 345 7 '^Sg Q: What is "Global Wealth'Structuring"(GWS)? A It is planning how to hold your assets to present* protect and ultimately transfer the value of your life's achievements to your loved ones. C.WS helps clients understand potential tax liabilities, anticipate possible legal issues and examine alternatives that can be used to
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  • FOCUS property
    • 429 8  -  lee han shih generated by the properties it owns. SPT, which held three shopping malls Tampines, Junction 8 and Funan came with yields of 5.75 and 6.05 per cent for the first two years, which the financial market judged to be insufficient. But CMT, with the same
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    • 409 8  -  Average price seen rising 4-5% from the previous week Byi Vince Chong IN JUST two weekends, Centrepoint has sold 70 per cent of its Cote d'Azur condominiums in Marine Parade, or some 430 units. The average price at the 99-year leasehold
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  • Page 8 Advertisements
    • 263 8 jjP FOR LEASE Where to wine, dine and entertain... h- A World of Exclusive Privileges Treats BPiafeflEl www.diners.com.sg ImernatunaT Cafe Plaza's ever popular Euro-Asian Buffet has an additional line up this June: authentic Korean dishes created fcy a team of chefs from Pyongyang. Don t miss our Korean Food and
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    • 53 8 Busi n ess Times I Contact Patrick Ang at 740 1284 or Amy Choo at *****59 now. r Dente —H—SBBWBBEBB CPerfeci 10 JKondays AMAZING LBNCH SAVINGS MONDAY WEDNESDAY $10 FOR ALL PASTAS TUESDAY THURSDAY $10 FOR ALL PIZZAS FOR RESERVATIONS Tel 6536-5366 No. 71 Boot Quay Tel: 6468-4688 22 Lorong
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    • 190 8 f isr Prestigious Bungalow Site at Nassim Road Freehold, elevated ground with a panoramic view Total land area of 58,769 sq ft approx Subdividable into 37,613 sq ft (with a majestic Conservation bungalow) and 21,156 sq ft (vacant site for 1 bungalow) Wide frontage along Nassim Road Rare opportunity to
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    • 105 8 HENDERSON IND PARK FOR LEASE intermediate terrace unit Suitable tor dean bght MuMm Impressive reception lobby Total 8.4175t over 3 floors Pnvate car park lots Attractive rental Sole Marketing Agent CB RICHARD ELLIS (PTE) LTD Industrial Department *****-232/621 Has Your Portfolio Returned 28% In 2002? bL ITsWortd Soccer line! Caich
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  • Page 9 Advertisements
    • 112 9 in T f V ■^IH£H|ra|^^^S^fl 5 t d CBD >v K I i 3 stops away from Raffles Place MRT station ft t C ur\*/''^r Close to all the major expressways Industrial a District Large column free floor plates of 18,000 sq.ft. Estate 1 M&us Marina South Raised flooring system
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  • EDITORIAL & opinion
    • 768 10  -  ■ii :m I bottom line OPINION frank ching The writer is a Hong Kong-based journalist and commentator THE latest dispute between South Korea and China over 20 North Koreans seeking asylum in Seoul's embassy does no credit to either country. Fortunately, the meeting
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    • 44 10 'We need a time frame. Even if he wants to step down, don't drop it on us like a bomb. That's not fair to us.' BafiHah Am Malaysian Trade Minister, on Prime Minister Mahathir Mohamad's resignation and withdrawal during the weekend.
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    • 648 10 EDITORIAL ALMOST certainly, oil ministers meeting in Vienna this week will affirm current production levels for the coming quarter and promise change in output if demand emerges later. The Organisation of Petroleum Exporting Countries' (Opec) strategy of limiting supplies has yielded a 25 per cent
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    • 706 10  -  A day before Malaysian Prime Minister Mahathir Mohamad stunned his party on Saturday with a surprise announcement of his retirement from politics, his deputy Abdullah Ahmad Badawi spoke to BT's YANG RAZALIKASSIM in his suite at the Umno Headquarters, Putra World Trade Centre. Below are
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    • 602 10  -  I'll analysis As scenario unfolds, it seems he may stick to his resignation decision From Yang Razali Kassim in Kuala Lumpur Malaysian leaders grappled with the country's deepening uncertainty as it became clearer that Prime Minister Mahathir Mohamad's resignation could be irreversible.
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  • REGIONAL news
    • 417 11 KUALA LUMPUR Move prompted by strong performance of Malaysia's external indicators Reuters INTERNATIONAL rating agency Moody's said yesterday that it might upgrade Malaysia's foreign currency ratings even as uncertainty over the future of Prime Minister Mahathir Mohamad shook the country's financial markets. Moody's
      Reuters  -  417 words
    • 205 11 KUALA LUMPUR Bloomberg MALAYSIA will cut commission rates for stock market transactions on July 1, a move it postponed a year ago after brokerages complained a market slump had already crimped revenue. The cut is the second stage of the Securities Commission's
      Bloomberg  -  205 words
    • 244 11 JAKARTA Bloomberg AP INDONESIA'S Supreme Court head, Bagir Manan, has told the top judge of the Jakarta Commercial Court to investigate Manulife Financial Corp's case, after the Canadian insurer's Indonesian unit was declared bankrupt. The team will look into allegations by Manulife that
      Bloomberg; AP  -  244 words
    • NOTE Book
      • 64 11 Bloomberg IHONG KONG] Hong Kong industries must shift to services from real estate and manufacturing in order to stay competitive, according to a survey by CPA Australia, a global organisation of professionals in business and finance. 0f289 Hong Kong professionals surveyed, 84 per cent
        Bloomberg  -  64 words
      • 75 11 Bloomberg [BEIJING] China said it is going ahead with its complaint to the World Trade Organization (WTO) against US steel duties as Washington has not offered Chinese steelmakers enough exemptions from the tariffs. China said it wants the WTO to approve its request
        Bloomberg  -  75 words
      • 53 11 Reuters [SHANGHAI] The Shanghai stock exchange has approved rules permitting foreign brokerages to apply for special membership under a WTO pledge to let foreigners play a bigger role in the market, state newspapers said yesterday. But the rules had yet to be endorsed by
        Reuters  -  53 words
      • 60 11 Bloomberg [KUALA LUMPUR] Perusahaan Otomobil Nasional Bhd denied a Malay Mail report that it will set up a plant in Iran. Clarifying, Proton said it has an existing arrangement with a firm in Iran to assemble certain models of its cars and currently has no
        Bloomberg  -  60 words
      • 58 11 Bloomberg [HONG KONG] MTR Corp received six bids from private property developers for a joint project above a station in Kowioon, company spokeswoman Ming To said. The 142,152-sq m site is above Hang Hau Station, which will open in August as part of
        Bloomberg  -  58 words
    • 533 12 SHANGHAI Retreat eases concern over stock glut, sending major indices np 9% Bloomberg CHINA'S stock markets had their busiest trading day ever, with major indices surging more than 9 per cent after the government scrapped plans to sell its US$24l billion of
      Bloomberg  -  533 words
    • 329 12 HONGKONG AP CHINA'S largest minibus maker. Brilliance China Automotive Ltd. yesterday defended its decision to replace its chairman, wealthy entrepreneur Yang Rong, amid reports he and other company executives were under investigation for asset stripping. In an announcement posted on the
      AP  -  329 words
  • Page 11 Advertisements
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      604 words
    • 26 11 W P£EK PHILIPPE Begin tradition. E 9yn m wr I look after it for the net *t generation. Geneva Master Time, Tel: (65) 6732 1506. www.gmtsingapore.com
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  • Article, Illustration
    1236 12 Transai-tion date.Jun 24 MTERBAMKCBOSS RATES C$ twfc tare ffr Dw NttWh RupUH Yw Won 111 Ighm fwo S$ tort Sfr WTS Hfct Pomt USS 0 878 4 W 592 42,6 1282 4 5fl 28.279 49.705 0.702 6.994 2.198 1.156 34.718 29.123 1021 5.961 0.169 19.454 24.173 0J84 0.578 5
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  • 1780 12 SICOM riiTunES Jun24 RUBBER Futures (Closing pricas) RSS1 (S cents/kg) Close Volume Open Month Sett (tonnes) Interest Jul 02 157.50 157.50 Sep 02 158 50 Oct/Dec 02 160.00 RSS 3 (US cents/kg) Volum* 52* High low Sett (tS JUS M 02 92.50 92.50 88.00 200 700 *"9 88-25 88.00
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  • 4965 13 Traiisactioii date: Jun 24 for more, go to um*u\asiawien marketsjoom HONG KONG MysanDev 790 010 512 Vol inter chma Hldgs 0 84 inch 1950 W *h Int l Bank of Asia ,.*195 0.01 226 iRegent Group OJO 0.01 1575 AcrossAsia Multimedia .016 uncti 50 KG Holdings 460 0
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  • 2325 13 Transaction date.Jun 24 KUALA LUMPUR Eraser »Neave 3.58 -0.02 28 Vol FS8M 192 -0.06 11 RM W- rooo) FW Industries. 0.33 -002 63 Gadano 1.28 -0 03 4 ASM Realty 1.08 -0 04 40 Gamuda 5 80 -0 45 3422 Abrit 154 -0.05 84 GanadCorp .0.93 0 03 2
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  • 743 13 Transaction date: Jim 24 w >» a—i Wit* Otm a—» ***> J5S" oss ,M0 ♦<"»> Cap«t«Und 1.2S 1.400 *0.030 OCBC 154 11J0O -0200 STrJ?SS <,nd t i"2 H2 0J» 6.900 *0050 S Q,v 591 J-* 5*0 -0-050 Nrtw> M 25c OM 041S OjW««T25c 074 ***** -0400 SGX 1c 0
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  • 653 13 BONDS WARRANTS Prw Expiry Vol Comr Extr Oik Mtta c,a >"> MH %6—*»i Law ASTIW*****1 as 1 16 25 134 24 Acma Ltd 1MM111S 15 1 50 518 3 40 29 Amtekiw>506l0 JS3 i*xh 563 1 33 5 1 32 36 Armstrong W*****0 te 1 10 44 300 23 AirfoodPW*****2
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  • WORLD news
    • 420 14  -  Bat its latest action may not be enough to keep export-led recovery on track From, Anthony Rowley in Tokyo THE Bank of Japan (BOJ) intervened again in the Tokyo foreign exchange market yesterday to counter the yen's recent dramatic rise against the US
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    • 173 14 NEW YORK Reuters A MERRILL Lynch worker has provided new information that contradicts what home decorating diva Martha Stewart has said about a controversial sale of ImClone stock in December, the Wall Street Journal reported yesterday. Investigators are currently looking into whether Ms Stewart,
      Reuters  -  173 words
    • 214 14 NEW YORK Reuters ELEVEN insurance companies said in new legal documents that JP Morgan Chase Co conspired to make Enron Corp look healthier than it was, the Wall Street Journal reported yesterday. Based on legal documents filed on Friday, the Journal said
      Reuters  -  214 words
    • 455 14 WASHINGTON Recovery may be hart by suggestion of higher rates Bloomberg Reuters FEDERAL Reserve officials meet today and tomorrow to accomplish two tasks: set the course of interest rates and outline a view on the US economy. The first job is easy.
      Bloomberg; Reuters  -  455 words
    • WORLD Watch
      • 66 14 AFP [WASHINGTON] Adelphia Communications was expected to file for bankruptcy protection yesterday, as potential investors shun the company following accusations of improprieties on the part of the Rigas family Adelphia's controlling shareholders, the New York Times reported. The paper said Adelphia secured US$l.5 billion in financing
        AFP  -  66 words
      • 65 14 Bloomberg [NEW YORK] CIT Group Inc chief executive officer Albert Gamper is pitching a planned US$5.B billion initial public offering by telling potential investors that Tyco International Ltd's 12-month ownership of the finance company has left him "war-scarred". Tyco is offering 200 million CIT
        Bloomberg  -  65 words
      • 50 14 Bloomberg [PARIS] Vivendi Universal SA began selling part of its stake in Vivendi Environnement SA, giving up control of its water unit to raise as much as 1.7 billion euros (552.9 billion). Vivendi is shedding 15.6 per cent of the utility, a spokesman said.—Bloomberg
        Bloomberg  -  50 words
      • 65 14 Reuters [NEW YORK] Global Crossing's management team is gearing up this week to assemble a new consortium of investors that can allow the bankrupt telecoms firm to operate as an independent company, chief executive John Legere said. He said Global Crossing is looking to raise up
        Reuters  -  65 words
      • 110 14 Bloomberg (LONDON] Despite growing income, Burberry's initial public offering next month will likely fetch less than Prada Holding NV's because the Italian firm is more established in luxury goods, where shares trade at an average of 27 times earnings, investors said. Burberry, meanwhile, is treated
        Bloomberg  -  110 words
    • 335 15 CURRENCY JITTERS Think-tank feels lender wonld not be able to sustain its 'strategy of delays' Reuters [BUENOS AIRES] The economic problems facing several Latin American countries, most notably Uruguay and Brazil, could speed Argentina's progress towards a new deal with
      Reuters  -  335 words
    • 117 15 Reuters [QUITO, Ecuador] Ecuador Finance Minister Carlos Julio Emanuel resigned on Sunday after several of his closest officials were removed last week in a bribery probe, presidential spokesman Oscar Zuloaga said. Mr Zuloaga said Francisco Arosemena, secretary to the presidency, takes office on Monday as the
      Reuters  -  117 words
    • 382 15 The two economies share little except the risk of default Reuters [NEW YORK) In the midst of Brazil's topsyturvy presidential campaign, the most murmured word on Wall Street about the Latin American economic powerhouse has come to be "default". Investors grow pale
      Reuters  -  382 words
  • Page 14 Advertisements
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      229 words
    • 274 14 II We are more then our clients' I consultants We're their partners. committed to their businesses. A wide range o( public and tatored programs for Senior Executives to Frontline Staff are available. Call us or visit our website I Jt C7/2e EBusiness ggH|n| JBeisur&^Jncfulgence Executive Package rml 70 Package Includes
      274 words
  • Page 14 Miscellaneous
    • 264 14 CROSSWORD 1 l-Mcte's business is selling hJ en from scarf (7) in the end (7) 14 immersed in am to confront favourite 22 PH American force (7) j r I doorway (9) 25 Swindle within swindle to get 27 Crooked dealer pockets many a jewel (7) 28 Don't besiege Sandhurst.
      264 words

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  • KNOWLEDGE economy
    • 1181 16  -  In the first of a two-part article, Patrick lambs looks at how ROI could lead to the death of business PATRICK LAMBE The writer is founder of Straits Knowledge (www.straits knowledge.com), a Singapore-based consulting and research firm specialising in knowledge management, e-learning and innovation. WHEN it comes
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    • 278 16 Andersen notably absent from 2002 honours list TWENTY-ONE organisI ations including, for the first time, the US government have been named winners of the fifth annual Global Most Admired Knowledge Enterprises (MAKE) awards. They are: Accenture BP Buckman Laboratories Clarica Life Insurance Ernst Young General
      AFP  -  278 words
  • Page 16 Advertisements
    • 150 16 How 'e' do you want to be? ,y ft '•> -Vy* //7/e/7?e ca d rs l Stage 2 e-business is integrating core processes to establish closer, partners. It cm cut inventory costs, improve response time to customers and streamline transactions. k C Stege 3 e-business is tocusing almost ail time
      150 words

  • SHIPPING TIMES
    • 269 17 Reuters THE Baltic Dry Index (BDI) rose five points to 993, the Baltic Panamax Index (BPI) gained 10 points to 986, the Baltic Handymax Index (BHI) firmed 24 points to 7,596 and the Baltic Capesize Index (BCI) was up one point to 1,147. TIME-CHARTER: Deep Blue (built 1991)
      Reuters  -  269 words
    • 272 17 MX '000 ■*■24 s$ ra CWT Distribution 0.80 unch 0 Chuan Hup 0.41 -0.01 288 Cosco Investment 0.21 unch 395 Freight Links 0.06 0.01 60 GB Holdings 0.82 0.02 5 Jaya Holdings 0.24 0.01 797 Keppel Corp 4.02 0.02 1549 Keppel Merine 0.18 0.01 195 Keppel Tele 0.98
      272 words
    • 599 17  -  Ports will be reconfigured to meet pre-screening needs: expert By Donald Urquhart [SINGAPORE] Ports that do not opt into the United States' preference for cargo pre-screening may risk losing competitive advantage, according to an industry security expert. With the US push for
      JAMES TOURTELLOTTE  -  599 words
    • 418 17  -  NOL unit aims to corner supply chain market with USs6.sm deal By] Beth Jinks (SINGAPORE] Singapore's APL Logistics (APLL) aims to corner the supply chain market for China's booming IT sector by entering into a joint venture with diversified
      418 words
    • 261 17 (MANILA) Philippine-based port operator International Container Terminal Services Inc (ICTSI) said it had completed the sale of a unit holding the bulk of its foreign operations to a Hong Kong-based port operator. ICTSI said in a statement that Hutchison International Port Holdings
      261 words
    • 325 17  -  From, Alec Almazan in Manila A Singapore-flagged tugboat whose officers were kidnapped in Southern Philippines was released by Philippine authorities on Sunday night. The Sintel Marine (SM) 88, with its coal barge in tow and with a security escort, left the Philippine Navy
      325 words
    • AVIATION news
      • 363 18 It plans to spend Asl.sb more on upgrades to fend off rival Virgin Bine Bloomberg [SYDNEY] Qantas Airways Ltd, which holds about 80 per cent of the Australian market, is in talks with Boeing Co and Airbus SAS about buying additional planes
        Bloomberg; AFP FILE PHOTO  -  363 words
      • 468 18 India overtakes UK as cut-price tickets spur travel to its neighbour Reuters [COLOMBO] India has replaced Britain as the biggest source of passenger traffic for war-weary Sri Lanka's national carrier, a SriLankan Airlines official said on Friday. Visitors from Sri Lanka's northern neighbour hit
        Reuters  -  468 words
      • 259 18 AFP [ZURICH] Swiss investiga tors probing the collapse of former national carrier Swissair have searched the home of the head of banking giant Credit Suisse Lukas Muehlemann, a former director of the airline, a bank spokesman said. Credit Suisse spokesman Andreas Hildenbrand
        AFP  -  259 words
    • 132 18 PAGE FoongSun 5 BSA 6 Fujitrans 6 B'tang Mas 6 Gemartrans 4 CMACCM 3 Hangli 4 COSCO 3 Hyundai 4 Columbus S Heung A 3 Central Ex 4 IRISl 5 China Stipg S Ken Hung S Cougar 5 Kyowa 6 CWTGtobelmt 6 KMTC 3 Delmas 4 Liner
      132 words
    • 11858 22 THEBUSINESSTIMES THEBUSINESSTIMES EXPORT W«l!fa!iaM!H»B»,.liJJU.I.I.I.IJ.III..I.!.|J«.,IJ.IJ:l.|i|J.iUJI*IJ.|.l III11IIIII III. 11 III I ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel voyage Telephone SIN Destn Name Name Number Number SIN Dest'n Name Name Number Number 15/07 08/06 NGPL TASMAN VOYAGER V.I402M 65 *****216 To ABIDJAN (ABJ) 2003 Cote D'lvoire To
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    • SHIPS IN PORT
      • 793 25 VMS* Voy No Bcrlli Arrival 0*p«tiir» Jmm$ M BTBMUAT1 (0602 JOI 74/04/2008 30 74/06/20*00 MABINCVlBlul «7404 JW <4/01/2007:10 74/04/*****C MCAIW I IX 01 M 74i«4/700B(0 74/04/702J 59 ■M*' 0950? JO) 74AW?009:IO 75/06/7006)0 n«J AM 24 JOt 24/M0M*J5 J^WOO ,EW «5? jot tvwtw» 24/04/20*30 *u.u «MY» uft» joi MAMMM5
        793 words
      • 1843 25 RECEIVING OF EXPOKT FCl CONTAINERS AND LCL CARGO Booting/Batenca tstls SMP *®T Ho Ctfe/ttr p»rM Frwa T# Fro* to O M w f/9«0 IB 24/BOO 2VMM /Vim o MWW 2v*s* /vw o 1W« flWH )MM n t VT70C MBI (VMC J :wvo ?vrw >vnot aww nnro n«m HMMW
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      • 171 25 Jul 1 Canada: Canada Day Brunei: HM The Sultan's Birth day Hongkong: HK Spe Admin Reg Es tab Day Jul 4 United States: Independence Day France: National Day Belgium: Belgian National Day Jul 14 France: National Day Jul 15 Brunei: Sultan's Birthday Jul 17 South Korea: Constitution Day
        171 words
      • 804 25 THIS report, compiled by Cockett Ma rine Oil Ltd. shows price ranges in US dollars instead of single prices for a more comprehensive description of the market Prices shown are based on average sized stem. Market movements are indi cated. The Cockett Bunker Price Index change
        804 words
      • 497 25 Crto" «0M*1 W 06 17.7 0 06 41 003 ■to" 20 OKHtr totoM 4WiUi MM «o ih* C« 0 0 3 0 0 0 380 AM 985 6 02 M2 0.06 33 ftW turn 380 kUi 990 9 0.9 185 COT 122 004 »W M» ww
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    • AIR & LAND transport
      • 529 26  -  Malaysia's attempt to woo major airlines comes too late By] Beth Jinks [SINGAPORE] German aviation giant Lufthansa has ruled out any move from Singapore's Changi International Airport to Kuala Lumpur's relatively new equivalent, labelling Malaysia's aggressive campaign to woo major airlines as
        FILE PHOTO  -  529 words
      • 138 26 Dow Jones Newswires [HONG KONG] The Hong Kong Airport Authority (HKAA) hopes to buy a large stake in Shenzhen Bao'an International Airport, the Apple Daily reports, citing unnamed sources. The HKAA hopes the Executive Council will approve the proposal, which involves taking up a
        Dow Jones Newswires  -  138 words
      • 208 26 Reuters [BOMBAY] Japan Airlines (JAL) plans to resume this week the twice weekly service to India which it suspended earlier this month due to fear of war between India and Pakistan. The Japanese national flag carrier also intends to proceed with plans to expand service
        Reuters  -  208 words
      • 344 26 Reuters [CHICAGO] The Federal Aviation Administration has given the green light to a US$3.5 billion plan to build two new terminals and add US customs facilities to better accommodate international travellers at Chicago's O'Hare International Airport. The FAA said it found no
        Reuters; AFP  -  344 words
      • 569 26 This is in addition to record USslsb deal last November AFP (DUBAI) Dubai's Emirates airline, already flying high on a US$l5 billion deal to buy dozens of aircraft, said on Sunday it was likely to order more planes to keep pace with the
        AFP; FILE PHOTO  -  569 words
      • 1943 26 ott maw m ww ni lhttb 1555 ****** 2305 UMM LH9770 2230 H***** 1555 S***** 2305 $0229 2230 S***** »55 W9763 2350 Amsttrttm S023 0605 GA974 0130 M7 *1837 1510 U.I3I 2225 0W W OM $024 2345 h*M*i S0989 B35 S0990 OW) ArtMOMrtn M0012 0610 C*i«|rtn
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  • Page 17 Advertisements
    • 366 17 Lufthansa jl I staying put at I Changi II IHBH People Former chief executive of insurer British Marine Mutual, Richard Laslia, is taking over as International Association of Classification Societies permanent secretary, from Robin Bradley, who retires later this year. The appointment was announced following IACS's council meeting in St
      366 words

  • Page 18 Advertisements
    • 444 18 I IMPORT 1 NORTH AMERICA 11 11 GULF/INDIA SUB-CONTINENT SUPER SHUTTLE |QULF KARACHI EXPRESS (QKX) nssa vor is« m rasa vor m dam wp OOaKINBUNDS 37W23 12/0* 30/06 02/07 ttO NttUOTD MTAMT 01C 15/06 H/06 11/06 26/06 00QMITAM SIW24 H/06 07/07 06/07 HAKUOA MAIU 041 16/06 M/M OOdAMEXKA 61W2S 26/06
      444 words
    • 41 18 WORLDGATE EXPRESS LINES PTE LTD 180 CecM Street, *16-03/04, Bangkok Bank Building, S'pore 06Q546 Tel: *****911 Fax: *****073&*****63 Email: wgate@mbox2.slngnetcom.Bg WEBSITE: http//www wortdg3b.CQtn.9Q p. BombayY VMadras SS BOMBAY 28/06 \Jsfelk MADRAS/BANGALORE 20/06 Colombo* 1p CALCUTTA 101/07 POrl LOUIS NHAVA SHEVA 01/07
      41 words
    • 692 18 s&*ces represented by 1° Merr ri Re 9' s r y of Members of itie Accredited Shipping Agents Singopore Logistics Singopore Shipping Association Association |B LILY LINE-MAU VOY ETA HA ETA A P. ItLAHC SfOKE MALI Empress Lily 0402 28/06 29/06 08/07 Princess Lily 0602 14/07 15/07 24/07 Empress Lily
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  • Page 19 Advertisements
    • 770 19 TO USA (SAX SERVICE) VtSStl WV SIN HA LAX OAK DAI HOU CHI COi MM ATI NYC fIKICIUM 1051 26/06 11/07 15/07 IS/07 IS/07 15/07 16/07 15/07 17/07 17/07 AH HOLLANO 109E 03/07 11/07 22/07 22/07 22/07 22/07 23/07 22/07 24/07 24/07 API ENGLAND 10/07 25/07 2tyo7 »/07 29/07 21/07
      770 words
    • 1463 19 NEW DIRECT CALL FROM S'PORE TO POfI KEUMQ, JAKARTA, SEMAtANG VA f 17lh June MIOWNSOHIO 417-00 SAUS/OOGS IE: ******57/43 F/UL ******21/24 I MHCVM HA rw I COSTAR SHIPPING FT! LTD oinwmii/u ******02 *****371/75 I BAHGKOK, NO CM MM wj.f. 13th June Q NO: **********0* TIL 477* MOO HUM) MWUTD (D/
      1,463 words
    • 549 19 HjL- _g6jL HKG _SHA_ _TUS_ JNC_ SmHhM; Kfl jjg k MT( HONGKONG 208W Ik/k 27/t 30/t 3/7 5/7 9/7 HYUNDAI SftlNTEl 079S 21/6 5/7 7/7 9/7 10/7 13/7 KMTCtESiING 209 M 3/7 4/7 7/7 10/7 IV7 14/7 ACXYKXfT 044W 79/4 3/7 5/7 KMTCUISAH 1 209N 10/7 U/7 14/7 17/7 »»/7
      549 words

  • Page 20 Advertisements
    • 785 20 HMN& HYUNDAI MERCHANT MARINE CO., LTD. <1 NO. **********011 Ivesa vw |sw I sou Ita imw I how Itv I [wssti vor sou uh rtm ant huh nv P® HY FORTUNE 304W 13/05 04/04 79/0S 10/05 01/0* HKH SOLUTION 0051 It/04 27/04 11/04 "73/04 U/0S APIMOU 10IW 14/05 07/04 07/00
      785 words
    • 569 20 HAN HA! LfflM INTRQDi iciNrn? NEW WEEKLY EXPRESS SERVICE mHI Weekly Express Tuesday sailing For more details, call HOTLINE: 1800-*****00 or *****588 waL *5! m m m umvt mi? ASIA EXPRESS I63ASAWEDI 27/0* 29/06 1 M7nT IMA 04/17 01/07 09/07 I*s* »4/«7 11/07 11/07 10/07 IMA 15/07 14/07 29/07 11/07
      569 words
    • 710 20 SJQIFA WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO All NORTHERN AND WESTERN ICQ POINTS rasa vot sw Hum coummo m u«vt cotoauo USHASTtI SOIIW 17 JUM HJW 73 JUI "MM "jji 10WHMI0U OHM 74JVR 76 JIN 30 JUN 3M "TS wis im 3jw 7hk iim km Mtmcw MB nut 10
      710 words

  • Page 21 Advertisements
    • 1175 21 ivtsstl VOY intHH HKG I SIN PKL DX» »AB DMM RIK IRAN ISFAHAN PCL-265 25/06 26/06 29/06 30/06 07/07 08/07 10/07 12/07 IRAN HORMOZGAN PCL-266 02/07 03/07 06/07 07/07 14/07 15/07 17/07 19/07 IRAN TEHRAN PCL-267 09/07 10/07 13/07 14/07 21/07 22/07 24/07 26/07 M.V. UNDAVIA PCL-268 16/07 17/07 20/07
      1,175 words
    • 564 21 UK CONTINENT SERVICE Loading for MARE RDM/ATW/BMN/UK/NAN OCEAN OLYMPIC RDM/ATW/BMN/UK/NAN STARLING RDM/ATW/BMN/UK/NAN Loads Singapore. EVW Malaysia Indonesia MIDDLE-EAST SERVICE Loading for TZANETIS DBI/ABU/DOH/BRN/DM M/KWT MERIDIAN NAVIGATOR DBI/ABU/DOH/BRN/DM M/KWT SEA BRIGHT JDH/AQA/DMT AS PI LOS JDH/AQA/DMT FAVORfTA DBI/ABU/DOH/BRN/DM M/KWT Toads Singapore. E7W Mateysia, Indonesia USA SERVICE Loadng lor ANGARA CAM/NFK/SAV/NOL CARINA
      564 words
    • 842 21 _MUMM um Z2Zfit_ B/Wl wmtan "M fer~ ?<i o* w Zll5 2;. ot 29* bt p*( iandi a fj# 4- TAC Mnm im M/M 03/07 ?8_ 0t P*( BAIJ 7196 04/07 06/07 Ksjft,..rrr-1 .JSL. 0* YKStI VOT S4W PJG iHOolmfss JAMofo IvS ~oro7 vsff! gg zs/fii 2Z/S4 lyTjjgßjJ |SZW_ 01x07.
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  • Page 22 Advertisements
    • 117 22 L_^KYO wa line jy Mp— >— Y«p Kwr Mwni Kiiwi <M"r* Millenio Tower 203N 29/06 26/07 04/08 05/08 07/08 09/08 Millenio Tower 203N 29/06 20/07 03/08 Millefiio fewer 203N 29/06 10/07 "*****" 18/07 Millenio fower 203N 29/06 30/07 08/08 09/08 U/08 13/08 Sinokor Seoul 209N" 06/07 ~~*****~ 04/08 05/08 WOB
      117 words
    • 280 22 CWT GLOBEUNK PTE LTD J OWNOFFICCS IN TEL:*****833 (36 LINES) FAX:*****742 M SYDNEY ME I BOURNE PENAN 0 PORT KELANG PASIR GUDANG KUCHING BANGKOK KARACHI BOMBAY NEW DEL HI-COLOMBO-HO CHI MINH CITY-HAIPHONG HANOISHE MEN HAMBURG TIANJIN QINGDAO SHANGHAI XIAMEN FUZHOUDALIAN XIAN BEIJING SHI JIA ZHUANG WEEKLY DIRECT GROUPAGE SERVICE TO
      280 words
    • 15 22 KEEP UP TO DATE ON TRENDS WITH THE LINER SCENE FORTNIGHTLY ON MONDAYS SHIPPING TIMES
      15 words
    • 251 22 MYANMA HBk F,VE STAR UNE (Mywmr National Um) Loading for Yangoa VOT SIN Pfl KM PGU CHM SHVW HAW S4W SU> PAGAN V3O6W SID IN MAUTSIA: IOUSTEAD SHIPPING AGENCIES lUL 03-*****300 P*L 03-*****101 PCM: 04-*****02 BANK LINE (A service Andrew Weir Skipping) VT NORTHBOUND TO EUROPE V CONTAINER, ROW, ttULK
      251 words



  • Page 25 Miscellaneous
    • 134 25 goUT* ggL FOR 7AM 25 JUN 2002 Ejjjtp- :M M 3R > LEGEND: Issued by Meteorological Service Singapore K Thunderstorm A Showers Rain Temperature C„/ Wind direction and speed in Knots Weather w Cloudy Day Il Sea Conditions Wind speed symbols O Full circle w/o line indicates calm or light
      134 words