The Business Times, 20 July 2006
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2006-07-20
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The Business Times
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Title Section15 2006-07-20 1 THE BUSINESS TIMES Thursday, July 20,2006 SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 099/03/200615 words
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Article, Illustration343 2006-07-20 1 CONRAD TAN - Move would ease cross-border trading, lower risks By CONRAD TAN [SINGAPORE] Stock exchanges in Asean countries should band together and establish a joint regional clearing house to encourage cross-border trading, Singapore Exchange (SGX) chief executive Hsieh Fu Hua said yesterday. The343 words
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Article135 2006-07-20 1 STI 2.341.79 (+7.98) ST INDEX FUTURES 2.342.00 (+8.00) SIMSCI 277.69 (+0.42) SIMSCI FUTURES 277.30 (+1.10) MARKETS Wednesday Change KLSECOMP 911.98 +3.30 NIKKEI 225 14,500.26 +63.02 HANG SENG 16,097.54 +53.6C SET INDEX 660.11 +0.53 JAKARTA COMP 1,280.50 -5.55 MANILA COMP 2,181.57 -10.21 SEOUL COMP 1,233.65 +0.23 SHENZHEN B 286.53135 words
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999 2006-07-20 1 DONALD URQUHART - Discussions dovetail with latter's bid for Sentosa integrated resort By DONALD URQUHART [SINGAPORE] The Singapore Cruise Centre (SCC) and Genting International are in talks on a possible tie-up for the second casino project at Sentosa, which could see two new berths added to999 words
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Advertisement35 2006-07-20 1 BizU iifp Infocomm pioneer beefs up S'pore R&D PAGE 27 Br h I m M[WjM I IMf J fl PHOTO: YEN MENG JIIN Wheelock's executive director on why luxury properties are like diamonds page 3035 words
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Advertisement14 2006-07-20 1 CFOs IN ASIA Ethical issues that matter PAGE 3 BERNANKE'S ECONOMIC REPORT PAGE 1214 words
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Advertisement90 2006-07-20 1 COMMENTARY PCCW: Richard Li should not vote PAGE 4 I Hiß 1 fa j «iSWiM9!lilH3* TAP \m K Wr 1 You never actually /jj&^>,~l own a nm J> f jj|^H Patek Philippe. ffif* I^lTy^flv^Bi You after it for the Men's Annual Calendar next generation. Ref. 5146J by Patek Philippe. ST?90 words
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TOP STORIES
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Article, Illustration562 2006-07-20 2 PAULINE NG - S 'pore-KL fast train service possible: M'sian PM YTL announces its plans first but other firms will be considered By PAULINE NG in Kuala Lumpur PRIME Minister Abdullah Ahmad Badawi yesterday said that the government was open to the idea of a high-speed train service to Singapore and was seeking562 words
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Article663 2006-07-20 2 Asia's CFOs placing more value on ethics BUILDING an ethical culture is much more important to chief financial officers in Asia now than it was five years ago, says a study published yesterday by leading accountants. And they see the development as driven as much by evolving marketplace663 words
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493 2006-07-20 2 LATEST US DATA But improvement expected to be short-lived AP [WASHINGTON] Consumer inflation in the US slowed in June, helped by a temporary drop in energy prices. But the improvement was expected to be short-lived with a new crisis in theAP - 493 words
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Article, Illustration845 2006-07-20 3 MTCHELLE QUAH - But only 30% of CFOs responsible for ensuring ethical practice, says study By MTCHELLE QUAH [SINGAPORE] Building an ethical culture is much more important to chief financial officers (CFOs) in Asia now than it was five years ago, says a study published yesterday845 words
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563 2006-07-20 3 WONG WEI KONG - It asks judge to rule that it has no case to answer in suit brought by Beckett By WONG WEI KONG [SINGAPORE] Deutsche Bank, facing a lawsuit for the return of shares in Indonesia's biggest coal mine, sprang a surprise in the Singapore High Court563 words
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Advertisement251 2006-07-20 2 I~— tb. nrr* v.. k I A T .-tajtrfr r .< <» H«?/v m*h v :<* Harriott SINGAPORE ''\i' WE'LL ONLY BE FOCUSING ON YOUR DINNER DANCE Not only do we have a dedicated team of Catering and Event Specialists to ensure the successful planning and execution of your event,251 words
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Advertisement27 2006-07-20 2 Want the best deal? WInvite tenders. Call 1800 289 8822 or email notices@sph.com.sg to book your tender notice in our newspapers now. AT-3 W I NOTICES g27 words
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Advertisement9 2006-07-20 2 people No mountain high enough. www.thepeopleatwork.com Asia-Pacific Executive Search9 words
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Advertisement134 2006-07-20 3 THE HOURGLASS Contemporary Horological Art i I i t J!hv \i ®V/Fl I (inllit'l! PMiJi'U (jfn sf/u///' ORIGINAI I AMI VM >t IN I Ri\l ANY DANIEL ROTH KIWI (HI I I IN 1 H I i(l 0 1 1 I H M U I N l< Mavii Vttik*% THE134 words
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COMPANY NEWS
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341 2006-07-20 4 LESLIE YEE - Capital reduction to rationalise balance sheet pave way for future dividends By LESLIE YEE INTERRA Resources is looking to undertake a capi-tal-reduction exercise to write off accumulated losses of about $177.66 million sitting in the books of the company as at341 words
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Article802 2006-07-20 4 WONG WEI KONG - HOCK LOCK SIEW By WONG WEI KONG SO Pacific Century Regional Developments (PCRD) boss Richard Li is not considered an "interested party" in the sale of the company's 23 per cent stake in crown jewel PCCW to Hong Kong financier Francis Leung for HK$9.l6802 words
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Article5595 2006-07-20 4 UNIT TRUSTS FUNDS ACMGI Amet Income BT USD 8.41/ ACMGI Arner Income A USD 8.37/ ACMGI Amet Income B USD B37/ ABM Amro Ast«t Mgt port) ACMGI Aroer Income A EUR 6.69/ Star Europe Eqty!" 0J87/ ACMGI Amer Income B EUR 669/ Star Eixope Bond 1.161/ ACMGI Euop Income Opp5,595 words
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216 2006-07-20 6 ELECTRONICS distributor SNF Corp said yesterday that it was helping with police investigations. In a brief statement, SNF said that the Commercial Affairs Department (CAD), the white collar crime unit of the police, "has requested the assistance of the vSompany in connection with an investigation".216 words
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528 2006-07-20 6 SIOW LI SEN - By SIOW LI SEN MOBILEONE shares held steady yesterday despite posting disappointing second quarter 2006 results as investors focus on the dividend angle.' It closed unchanged at $1.92 after trading briefly in the morning at a lower $1.90. Said OCBC's Winston Liew: "Even528 words
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376 2006-07-20 6 MATTHEW PHAN - Hotel Reit trades between 85 and 86 cents By MATTHEW PHAN CDL HOSPITALITY Trusts, Singapore's first hotelbacked real estate investment trust, saw its price rise to 85.5 cents on its trading debut, up 3 per cent from its issue price of376 words
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Article, Illustration564 2006-07-20 6 VEN SREENIVASAN - SIA keeps mum on whether it's in talks with China Eastern By VEN SREENIVASAN SINGAPORE Airlines would neither confirm nor deny that it is talks to buy a significant stake in one of China's top three state-owned airlines. "China is obviously an important marketBLOOMBERG - 564 words
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336 2006-07-20 6 JEAN CHUA - Statement aimed at heading off false market in the company's shares By JEAN CHUA IN another bid to ensure there is no false market in its shares, explosives-mak-er Fabchem China said yesterday that preliminary its controlling shareholders and ao unnajnad ji&rty will not336 words
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266 2006-07-20 6 INTEGRATED solutions provider Ezra Holdings' wholly owned Lewek Shipping Pte Ltd yesterday signed a US$lBl.3 million sale and leaseback (S&L) agreement with Navigation Finance Corp (NFC) on seven deepwater anchor handling, towing and supply vessels (AHTS) and two anchor handling tugs (AHT), the266 words
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312 2006-07-20 6 CHEN HUIFEN - By CHEN HUIFEN DISPOSABLE glove maker Medi-Flex has become one of the first corporate victims of rising rubber prices. The company yesterday issued a profit warning and has shelved plans to list on London's Alternative Investment Market (AIM). Citing the surge in312 words
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372 2006-07-20 7 JEAN CHUA - Turnover rises 29% in the quarter to $34.7 m By JEAN CHUA NERA Electronics has reported a 4.4 per cent rise in net profit for the second quarter, as turnover increased 29 per cent, thanks to higher sales of its telecommunications and instrumentation372 words
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215 2006-07-20 7 KRITI SINGH - By! KRITI SINGH THE High Court has granted Citiraya Industries' subsidiary, Citiraya (Singapore) Pte Ltd (CSPL), an extension of the order placing it under judicial management to Sept 15, judicial managers of the troubled waste-recycler said yesterday. Citiraya Industries' scandal broke out early last215 words
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COMPANY BRIEFS
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70 2006-07-20 7 HOTEL and property group Overseas Union Enterprise (OUE) yesterday announced the resignation of nine of its directors, including Wee Cho Yaw, who also stepped down as chairman. Seven new directors have been appointed, in addition to two others who joined the board in June.70 words
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Article54 2006-07-20 7 DATACRAFT, an independent IT solutions and services company, has been awarded a US$BOO,OOO contract by PT Excelcomindo Pratama Tbk (XL) to expand its Internet Points of Presence (POPs) across Indonesia. The upgraded POPs will enable XL to increase capacity and enhance the services it provides through54 words
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67 2006-07-20 7 SARIN yesterday said its operations have not been affected by rocket attacks against Israel. All the attacks conducted so far have been targeted against the northern parts of Israel and Sarin's offices and production facilities are located in central Israel. It said production and67 words
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Article, Illustration525 2006-07-20 7 TEH HOOI LING - Indicative price range of 62-85 cents, stock last traded at $1.10 By TEH HOOI LING WILMAR International, one of Asia's largest palm oil producers, is placing out 375 million mostly new shares at an indicative price range of 62-85 cents each, which is525 words
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Advertisement34 2006-07-20 4 AllianzGI RCM Global Twin-Focus Fund a fund that offers you twin benefits Allianz (fil) of potential quarterly payouts and limits possible downside. Visit OCBC Bank for Global investors^ more details company roj>n no *****/169/34 words
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Advertisement94 2006-07-20 5 mmm v > l\ 1 R I- I C" T t v "> iXI LIMITED EDiTICN v -E ,r X r.: E= >i ,i< ,r j E E r; SE from 3 6 a, mmmmmmt ai -w m w; r r n i 1 Exclusive!); At SINGAPORE Paraoom t (t>5>94 words
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Advertisement99 2006-07-20 6 j ~FOR SALE BY TENDER 1 M feS* 99-Year Leasehold X£g om Btir Site Area: Approx. 836,424.7 sq ft r*Lj£l r "j Plot Ratio 2.1 Near amenities and reputable schools .ajgg&gj About 0.5 kilometre to Queenstown MRT Station ====I 5-minute drive to Harbour Front Centre eomommm I il ♦B»>hmi T.99 words
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Advertisement81 2006-07-20 6 i i' x Our qualified professionals Virgin islands Caymanislandy ;;"»j Bahama* -Trr Hongkong Samaa Full nominee, management, secretarial, banking and corporate administration services are available. We also specialize in offshore trusts for assets protection estate jj planning. For further information and immediate service please contact: Angela Nicolson or Marie Lim81 words
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Advertisement21 2006-07-20 7 Releasing your financial results? Call 1800 289 8822 or email notices@sph.com.sg to book your financial results in our newspapers now. NOTICES21 words
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Advertisement144 2006-07-20 7 "FREEHOLD CONDOMINIUM RIGHT IN THE HEART OF CENTRAL BANGKOK" A STUNNING VISION BEYOND COMPARE Strategically located in the heart of Bangkok's vibrant CBD hub, on bustling Sukhumvit 16-20, Millennium Residence Sukhumvit offers the perfect choice for those who enjoy a luxurious city lifestyle. An exclusive urban sanctuary, soak in the144 words
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SINGAPORE MARKETS
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Article, Illustration535 2006-07-20 8 R SIVANITHY - STOCKS Stocks again advance in the morning but make a mjyor retreat in the afternoon R SIVANITHY Senior Correspondent GIVEN that the local market is now almost entirely driven by external developments principally in the Middle East it probably comes as no surprise that thereSource: Bloomberg - 535 words
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Article, Illustration521 2006-07-20 8 CURRENCIES Reuters [TOKYOI The dollar hovered near three-month highs against the euro and the yen yesterday before comments from Federal Reserve chairman Ben Bernanke that may provide clues about whether US interest rates will keep rising. The market also awaited US consumerReuters - 521 words
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Article, Illustration1020 2006-07-20 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Jul 19 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ BuyI Shares Per Before After Stock Date Director Sell '000 Shr £000) COOP) Sim Lian Grp 19-Jul-06 Lim Kim Hong *Sell 500 na ***** 5.17 ***** 4.98 Comatlnd 19-Jul-06 Lai1,020 words
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Article, Illustration986 2006-07-20 8 MATTHEW PHAN - Compiled by MATTHEW PHAN AFP Mobile One July 19 dose. 551.92 CITIGROUP RESEARCH. July IS 2Q RESULTS highlight that Mi's competitive position is continuing to weaken (we expected some stability). The 6.8 per cent yield lends downside support but we see limited upside potential till stability returns. Hence, weAFP; Source: Bloomberg - 986 words
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STOCK FOCUS
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Article, Illustration1059 2006-07-20 9 LESLIE YEE - Singapore-listed food producer Celestial NutriFoods is confident of riding a positive trend of increasingly health-conscious Chinese consumers, writes LESLIE YEE LESLIE YEE Established in 1997, Celestial NutriFoods, which listed in Singapore in January 2004, is a Chinese manufacturer of soy proteinbased food and beverageFILE PHOTO - 1,059 words
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Advertisement274 2006-07-20 9 I Ever thought of I I working overseas? I I Exciting opportunities for qualified 1 I accountants across the Globe I I Hays International is a cross-border recruitment specialist that would like to assist you in I I developing your accountancy career in a location of your choice. You tell274 words
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Advertisement98 2006-07-20 9 I O SMS "sphnews"to ***** I I i I 0 You'll receive a cost-free SMS I I message with WAP link to SPH I I•• Mobile News I 1 I 0 Click on WAP link to access I I O Choose from: I "Breaking News" $5/mth I I "The Straits98 words
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SINGAPORE NEWS
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Article549 2006-07-20 10 RONNIE LIM - One million tonne per annum ethylene cracker can be up by mid-2009 By RONNIE LIM SHELL is expected to show its hand any time now with its multi-billion dollar project, code-named Project Houdini, which will be its Second mega petrochemical investment here if the549 words
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Article, Illustration462 2006-07-20 10 THE long-awaited tender of Gillman Heights, a privatised HUDC estate in the Depot/Alexandra roads location, was finally launched yesterday. Its marketing agent is pitching the massive site of 836,425 sq ft not only for residential redevelopment but also potentially for mixed development options, including462 words
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200 2006-07-20 10 THERE were small changes to the various categories of COE premiums in both directions as buying sentiment in Snew car market continued to be subdued. During yeslay's bidding exercise, the premium for big cars continto fall for the third consecutive tender while those for200 words
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Article, Illustration428 2006-07-20 10 OH BOON PING - By OH BOON PING CITIBANK is changing its Ready Credit line of unsecured lending, to offer term loans as well as its conventional overdraft facilities. The Pay Lite loans involve customers borrowing sums of $1,000 up to $50,000 with tenures of 12,428 words
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351 2006-07-20 10 JAMIE LEE - By JAMIE LEE INDUSTRY associations have cooperated in launching 10 government-funded projects since May last year, and the projects are expected to generate $2.5 billion in revenue and create 6,500 jobs in the next three years. The figures come in the one-year report351 words
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245 2006-07-20 10 SINGAPORE'S newest and apparently most exclusive members club, calfed ONE°IS, is on course fojf completion by the first quarter of next year. It went through its official "topping out" ceremony yesterday, marking the completion of all major construction works. "Together with the245 words
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SINGAPORE ROUNDUP
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44 2006-07-20 10 THE $6.8 billion MRT Circle Line features in an hour-long Discovery Channel programme tonight at 10pm on Star Hub Ch 12. Building the Biggest Underground is part of a six-part series on the world's most ambitious building projects.44 words
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50 2006-07-20 10 QATARI Diar, a' Qatar real estate investment company, will embark on a facilities management joint venture with Singapore's Capital International Asset Management, part of the RSP Group. The JV will manage local Qatari Diar projects, gradually expanding coverage to Morocco and Egypt.50 words
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26 2006-07-20 10 PT Bank OCBC Indonesia and PT Bank NISP are putting in an initial $85,000 to help rebuild Yogyakarta's earthquake-hit elementary schools.26 words
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Advertisement99 2006-07-20 10 hbbhm 1 i i> 1 Scrl f ssrssrssrsr"" I jssasgsassssi' I 1 f K.M »«< ho«i»-» >»»• Jl Publication Date I ArtlC. fyjWWWMMM— —URMfIH m n;j (mail Wx>n« /SSSB9k Enhance your corporate image with SPH news reports or features on your company. Wid e ly regarded as the definitive source99 words
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SINGAPORE INTERNATIONAL
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Article, Illustration915 2006-07-20 11 CHUANG PECK MING - The port city is still not overcrowded with investors. It is forward looking, offering investors a broad range of opportunities, IE Singapore's Nee Pai Chee tells CHUANG PECK MING CHUANG PECK MING SINGAPORE'S direct investments in Guangzhou last year amounted to a mere915 words
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Article, Illustration658 2006-07-20 11 YANLORD, listed on the Singapore Exchange recently, started its property development business in Zhuhai only last year. But its presence in this Chinese city on the southern coast of Guangdong province can be traced back to the early *****, when the Singapore-based company set up658 words
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396 2006-07-20 11 CHUANG PECK MING - By CHUANG PECK MING INDUSTRIES everywhere are relocating to more competitive bases and many are making a beeline for Zhuhai, the seaside city in China's southern province of Guangdong. "Being a regional hub on the western bank of the Pearl River Delta region, Zhuhai has396 words
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Advertisement88 2006-07-20 11 t "I-"- I CUTvinCrxQCK! aulOffKlXnPß iKHnOiOOWS Mm %M %i II f* *Ai 4f rt* h J ■i,ri r FORUM 200S P pp 9 1 1 to Asian Auto Sourcing with experts sharing their views global automotive fj; SSSOO (with exhibition booth space) meetings between buyer; and n p ilir rr88 words
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Advertisement40 2006-07-20 11 t ENTERPRISE the Business Times SINGAPORE Singapore Stngqpora MhmMoml b waakly, mwlcaMbound tafias brought to you by Singapore and TWa Mnw Tlmaa. K Singapore b an aganey undar tha MMitry of Ttada and Industry halping Singapore antarprtm txpoct and WwnitioMiiM40 words
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ECONOMY WATCH
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Article, Illustration615 2006-07-20 12 But record high oil prices are worrying, says Fed chief AP [WASHINGTON] Federal Reserve chairman Ben BertiJinke told Congress yesterday that record high oil prices are a concern, but that a slowing US economy should moderate inflation down the road. Still, he didn't closeAP - 615 words
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298 2006-07-20 12 Reuters [TOKYO] Japan's major banks are preparing to. raise their short-term prime lending rates for the first time in six years after the Bank of Japan lifted interest rates from zero last week. The core commercial bank units of Mitsubishi UFJ Financial GroupReuters - 298 words
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Article, Illustration591 2006-07-20 12 Govt may revalue currency due to inflation fears —AP [BEIJING] China's blistering economic growth may accomplish what all the cajoling by the US and its allies could not: boost the value of the yuan. On Tuesday, China reported its economy grew 11.3—AP; REUTERS - 591 words
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Article2238 2006-07-20 12 VOL General Corp MO -OOI 10* *»1» 1 W- rlw Ganting 2400 0.80 Ml Gaonx Kant 041 -0.01 31 ASM Realty 139 undi 0 GHL Systems 022 -0.01 4658 Abric 033 OOI 43 GlobetronicsTedi 029 undi 587 ACPIwfcjstrias A»1 unth 121 GlomacOM 131 -0JD2 78 Advance Synergy 0192,238 words
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Advertisement79 2006-07-20 12 Get your invitation to the morning with Mr Vikas Goel by filling in the form below and faxing it to: 6319 8292 by 30 July. For enquiries, please call Christine Ang at 6319 5119 or email her at anglcc9sph.com.sg 1 E5O Leaders Talk 0 I Name: I I i Designation:79 words
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MALAYSIA/INDONESIA
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393 2006-07-20 13 Construction sector to stimulate other parts of economy: M'sian think-tank [£UALA LUMPUR] The RMIS billion (556.47 billion) worth of Ninth Malaysia Plan (9MP) projects to be tendered out soon is expected to reverse risks of the economy slowing down in the second half of the393 words
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378 2006-07-20 13 [PETALING JAYA] Most telco players were surprised by the Malaysian government's Tuesday decision to knock back the tender for Malaysia's first wireless broadband licence, according to The Star. The tabloid reported that at least three companies DiGi.Com Bhd, REDtone International BHd and NasionCom Holdings Bhd378 words
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Article, Illustration392 2006-07-20 13 AP [PANGANDARAN] Rumours of another killer wave sparked mass panic yesterday in the town hit hardest by Indonesia's latest tsunami, as the amateur video that captured the horror surfaced. The death toll rose to 531, with more than 270 missing. The video showsAP; AFP - 392 words
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BRIEFLY ASIA
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62 2006-07-20 13 Reuters {MUMBAI] Indian shares fell more than 2 per cent and hit their lowest in four weeks yesterday on concerns that a falling rupee may slow foreign fund investment and higher oil prices could harm corporate earnings. The main BSE index fell 2.15Reuters - 62 words
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57 2006-07-20 13 Reuters [HONG KONG] Link Reit, Hong Kong's largest property trust, priced bonds worth HK$3.6 billion (***** million) yesterday, its first issue which was 50 per cent bigger than expected, a bank involved in the deal said. The funds will be used to help refinanceReuters - 57 words
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43 2006-07-20 13 Reuters [SHANGHAI] China Paradise Electronics Retail Ltd, the country's No 3 home appliance seller, is unlikely to accept a takeover bid from larger rival Gome Electrical Appliances Holding Ltd, the official Shanghai Securities News said yesterday.Reuters - 43 words
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67 2006-07-20 13 AFP [KUALA LUMPUR] Malaysia warned yesterday that the United States could send a negative message if Secretary of State Condoleezza Rice decided to skip next week's Asian security forum here due to the Middle East crisis. Ms Rice dismayed regional leaders last year byAFP - 67 words
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Advertisement229 2006-07-20 13 ViJ.'» A tv* 41 I •<- '"u N'/ f 4„> V l 4 A m-F -v-ir #W V > fV*:i'.-| lis.- W > .-ft- j J, mi jr< jlflW V :v.? 1 s l> l I#-"*'- rmr r T rT«? k. V immr V" flHH .-fc 2. **ji For bedtime229 words
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GREATER CHINA/INDIA
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482 2006-07-20 14 Move may put a dent in GE's plans to buy a stake in the lender: report [BEIJING] Stockholders rejected Shenzhen Development Bank's share reform compensation plan, a move that will delay or even kill plans by General Electric (GE) of the United States to482 words
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303 2006-07-20 14 AFP. AP [BEIJING] Industrial and Commercial Bank of China (ICBC), the nation's top lender, may be preparing to go public at a uniquely in> opportune time, analysts said yesterday. The bank, China's larg»est by assets, received the go-ahead to sellAFP.; AP - 303 words
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Article, Illustration602 2006-07-20 14 SIDDHARTH SRIVASTAVA - By SIDDHARTH SRIVASTAVA in New Delhi THE top three Indian IT firms, Wipro, Infosys, and TCS have reported better than expected first quarter results, further strengthening the country's position as the global software hub. The Indian software industry earns about 90 perAFP - 602 words
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233 2006-07-20 14 AFP [BEUING] China's super-rich feel extremely insecure due to public resentment and a lack of policies that protect property, state media yesterday quoted a survey as saying. The survey by the Guangdong-based Southern Weekend newspaper found that 90 per cent of those questioned saidAFP - 233 words
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228 2006-07-20 14 Economic Times [NEW DELHI] Ranbaxy Laboratories said it has acquired Anglo-American drug maker GlaxoSmithKline's (GSK) Mundogen generic business in Spain for an undisclosed sum. The firm has a strong presence in antiinfectives and anti-depressants. Ranbaxy's chief executive and managing director Malvinder Mohan Singh, saidEconomic Times - 228 words
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Advertisement336 2006-07-20 14 i {I hJk r Xi 7232 2S Dor mr popular direct-import L jrbm Hb U.S.D.A Sradad Bad is now back. ®U~s Phase cone in and enjoy our i«hV snccnlent steaks MtfS| BteL^MWBK MttU I Tu|lia M fit It hikui hrUi Inil MrlP'Mg?O^P?MPlPfifr'"."".laJ tu(mr« iiriii itu 1111 Wm/jA IUOM I hllirtii336 words
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Advertisement25 2006-07-20 14 i iukoi n «f* A +>■ Hi *0 A a M^EBAR Indulge in more than 30 varieties, of luscious chocolate creations vO> $25 00" Cu? AHA25 words
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ASIA-PACIFIC/WORLD
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569 2006-07-20 15 MIDDLE EAST CRISIS US signals that it will not push for fast Israeli ceasefire AP [BEIRUT] ISRAELI troops clashed with Hezbollah guerillas on the Lebanese side of the border yesterday, while warplanes flattened buildings and killed at least 20 people overnight as fighting entered itsAP - 569 words
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596 2006-07-20 15 OUR CORRESPONDENT - By OUR CORRESPONDENT in Bangkok THE shareholding structure at Shin Corp Pic, Thailand's largest telecommunications conglomerate, may have to be changed again, to alter Shin's relationship with Temasek Holdings of Singapore, say media reports in Bangkok. At issue is a company called Kularb Kaew,596 words
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Article, Illustration603 2006-07-20 15 ANTHONY ROWLEY - Says DPJ head, also attacking the PM's shrine visits By ANTHONY ROWLEY in Tokyo A LEADING Japanese politician has attacked Prime Minister Junichiro Koizumi's controversial visits to Tokyo's Yasukuni Shrine and also insisted that Japan do more to forge stronger ties withAFP - 603 words
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WORLD WATCH
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90 2006-07-20 15 Reuters [LONDON] Global Depositary Receipts of Russia's Rosneft hovered around their issue price of U557.55 in their debut on the London Stock Exchange yesterday, reinforcing analysts' views the shares were aggressively priced. The GDRs, a form of share, traded at U557.54Reuters - 90 words
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67 2006-07-20 15 Bloomberg [LOS ANGELES] Walt Disney Co, whose film division hasn't posted a profit increase in four quarters, will cut 650 jobs, or 20 per cent of the unit's workers, shuffle management and increase its reliance on Disney-branded movies. Motion PicturesBloomberg - 67 words
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88 2006-07-20 15 Reuters [NEW YORK] Bank of America Corp, the No 2 US bank, yesterday said second-quarter profit rose 18 per cent, as consumer and small business banking earnings doubled. Net income rose to US$5.4B billion, or US$l.l9 per share, from U554.66 billion, or US$l.l4,Reuters - 88 words
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Article73 2006-07-20 15 Reuters [NEW YORK] JPMorgan Chase Co, the No 3 US bank, yesterday said second-quarter profit tripled, bolstered by investment banking and credit card income growth. Net income increased to US$3.5 billion, or 99 US cents a share, from US$l billion, or 28 US cents aReuters - 73 words
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68 2006-07-20 15 Reuters [BANGKOK] Thailand's state-run Siam City Bank PCL said yesterday its third quarter and full-year net profit would fall below 2005 levels after the bank resumed making tax payments this year. The bank made the forecast after reporting a 53Reuters - 68 words
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85 2006-07-20 15 Bloomberg [TOKYO] Japan's government plans to cap general spending in next fiscal year's budget at 46.8 trillion yen (***** billion). The Cabinet will approve guidelines for the budget for the year starting April 1 when it meets on July 21, Deputy ChiefBloomberg - 85 words
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Article, Illustration749 2006-07-20 15 ANTHONY ROWLEY - ASIA INSIGHT The continent is being knit together by political and economic ties as Asia unravels ANTHONY ROWLEY Tokyo Correspondent THIS is the "Asian Century" or so we are led to believe. Some days, I'm not so sure though, and Tuesday was one of those749 words
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322 2006-07-20 15 Reuters [RIYADH] Saudi Prince Alwaleed bin Talal, the single largest shareholder in Citigroup, says shareholder patience is wearing thin over rising costs at the US bank. "The results are positive but they (Citigroup) are not able to get the costs underReuters - 322 words
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Advertisement162 2006-07-20 16/17 THE EPITOME OF TRUE SEAFRONT LIVING J| amaapsoa M#>; /I Surrounded by 360 degrees of spectacular beauty, The Oceanfront dy J HAMOWWOKT VIVO J Sentosa Cove a /S THE commands the highest v'lews on Sentosa Cove. Located just minutes La< JjL jt< M away from the marina club and the162 words
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AVIATION
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Article, Illustration311 2006-07-20 18 Reuters [LOS ANGELES] A power outage late on Tuesday at a regional Federal Aviation Administration (FAA) radar centre halted most air traffic in Southern California for two hours, but back-up power had allowed flights to resume, officials said. The radar facilityReuters; REUTERS - 311 words
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242 2006-07-20 18 AP [TAIPEI] A China Airlines flight from Ho Chi Minh City to Taipei carrying 218 passengers and crew was diverted to the southern Taiwanese city of Kaohsiung yesterday after a passenger broke a window on the aircraft, the airline said. Spokesman Bruce ChenAP - 242 words
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388 2006-07-20 18 VEN SREENIVASAN - By VEN SREENIVASAN [SINGAPORE] Cebu Pacific of the Philippines has signed up as the second airline to use Singapore's $45 million Budget Terminal at Changi Airport. The Civil Aviation of Singapore yesterday announced that the lowcost carrier would resume flights to Singapore next388 words
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284 2006-07-20 18 ILFC exercises option to buy 10 planes, Indian airline to purchase 4 freighters AP [FARNBOROUGH] Boeing Co extended its lead over European rival Airbus yesterday, with orders for 14 of its passenger and cargo planes. Boeing said that plane leasing companyAP - 284 words
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Article, Illustration244 2006-07-20 18 REED Exhibitions has appointed Annie Ma as vice-president Aerospace Defence Group Asia, to oversee its flagship aerospace industry event Asian Aerospace. Ms Ma, who holds a masters degree in Law and Economics from Cambridge University, will be based in Hong Kong. She comes to Reed with extensive experience in244 words
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Article2081 2006-07-20 18 an WW «TA WWW p» GA840 1640 GA841 1755 SQ147 223S fQ1<> 1WQ SQffi 0?5g $Q4?6 20 30 l£f 0735 EK405 0210 SQ230 1750 BA7382 2215 SQ493 0735 EK433 0900 MOT 1850 Qft2 2215 EK404 1405 NZ4354 2335 BA7381 1850 LH9770 2345 EIC348 1650 ***** 23352,081 words
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234 2006-07-20 18 MATTHEW PHAN - By MATTHEW PHAN CHANGI Airports International (CAI) has formed a joint venture to manage and operate a new terminal in Moscow's Sheremetyevo International Airport. The 520,000 square foot passenger terminal, scheduled to be completed in early 2007, is designed to handle up to234 words
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Page 18 Miscellaneous
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Miscellaneous181 2006-07-20 18 CRYPTIC CROSSWORD 28 Landlord without blemish? Quite correct (6-7) tough (9) odour (4) DOWN 8 Jwßloggs entertains them in YESTERDAY'S SOLUTION 1 Died of laughing (7 2,5) 14 p, tjff ma kes ,t0 HM Across: 7 Entrails, 9 Suitor, 10 2 Discovers trainee s left to get Weld, 11 Outrageous,181 words
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SHIPPING/AVIATION
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345 2006-07-20 19 Bloomberg [WASHINGTON] A US Senate panel rejected a proposed Bush administration budget cut of US$765 million for US airports, instead adding an additional US$5.5 million for construction projects at the nation's airstrips. Airport aid would be U553.52 billion for the yearBloomberg - 345 words
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Article286 2006-07-20 19 SGX '000 Jul 19 SS +1- Vol CH Offshore 0.35 0.01 125 Chuafi Hup 0.32 0 01 1225 Cosco Corporation 1.34 0.04 9902 CWT Distribution 0.64 0 03 497 Ezra Hldgs 225 0 06 478 Freight links 0.06 -0.01 586 Grand Banks Yacht 0.91 unch 0 Java Holdings286 words
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Article, Illustration491 2006-07-20 19 Report says vessels operating in the region may move to Pireaus in Greece Bloomberg [ATHENS] Insurance costs for shipping companies operating near Lebanon more than doubled and some ships were required to alter their routes following Israel's blockade of the country's ports. TheBloomberg; AP - 491 words
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Article, Illustration316 2006-07-20 19 Reuters [MIAMI] A cruise ship listed heavily after leaving Port Canaveral in central Florida on Tuesday, injuring about 30 people who were flung across decks. The US Coast Guard attributed the tilt to a problem with the Crown Princess'Reuters; AP - 316 words
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371 2006-07-20 19 Bloomberg [LONDON] The cost of shipping crude oil from the Middle East to Asia on two-mil-lion-barrel tankers rose to its highest in 21 weeks due to a shortage of ships for the first 10 days of August. "It's going fromBloomberg - 371 words
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PORT SHOTS
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137 2006-07-20 19 Bloomberg [MANILA] International Container Terminal Services Inc, which operates ports in the Philippines and four other countries, said yesterday that it had asked a court in Guam to order a resumption of talks about a cargo facility in the US territory. "The terminationBloomberg - 137 words
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94 2006-07-20 19 Bloomberg [LONDON] Lithuania will let shipping companies pay a reduced tax based on the size of their fleets, the European Commission said yesterday. Companies based in Lithuania will be able to choose the so-called tonnage tax starting in January. The system means companies pay aBloomberg - 94 words
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118 2006-07-20 19 [LONDON] The International Maritime Organization (IMO) yesterday expressed concern for the safe evacuation by sea of people trapped in Lebanon by the conflict in that country and for the safety of commercial shipping operating in the area. In a statement IMO noted: "With respect to118 words
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Page 19 Advertisements
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Advertisement36 2006-07-20 19 I Get a ft Leading Edge \y c Your sailing schedules get wider attention J in The Business Times shipping pages J Call Bernard Ong at 6319-1645 J or Michael Chng at 631 9-2026 Shipping times36 words
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EDITORIAL & OPINION
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Article507 2006-07-20 20 EDITORIAL CHINA'S economy grew a stunning 11.3 per cent in the second quarter the fastest pace for any quarter since 1995. The latest growth spurt has come on the back of a 10.3 per centyear-on-year expansion in the first quarter. This means that for the first-half of507 words
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Article, Illustration770 2006-07-20 20 ROBERT SAMUELSON - THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group IT'S been a minor miracle: The presumed power of soaring oil prices to cause an economic crisis has turned out to be more myth than reality. Americans have grumbled loudly about risingThe Washington Post Writers Group - 770 words
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Article, Illustration1503 2006-07-20 21 LEON HADAR - The Bush Administration is hoping that Israeli military power will succeed in defeating Hezbollah and Hamas LEON HADAR Washington Correspondent US PRESIDENT George W Bush and his neoconservative advisers had pledged that after ousting Saddam Hussein they would succeed in transforming "liberated"AFP - 1,503 words
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Article276 2006-07-20 21 Helen Chong; Lam Chee Kin - LETTERS TO THE EDITOR Helen Chong Lam Chee Kin. company secretaries. Singapore Petroleum Co WE wish to clarify matters raised in the letter, "Why did SPC take so long to release info?" (BT, July 19), by GN Setty of Sydney, Australia. Santos (Sampang) Pty Ltd, the276 words
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502 2006-07-20 21 Narayana Narayana Singapore - Narayana Narayana Singapore I REFER to the letters "CFOs should be qualified, ICPAS says" and "Why CFOs must be smart, skilled" (BT, July 13). With two qualified professionals slugging it out over what the ideal CFO should be, it must seem presumptuous for a502 words
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Article, Illustration1454 2006-07-20 20 G PANICKER - Conflict in the Middle East, rapidly rising oil prices and a big question mark over supply point to an increasingly worrying situation G PANICKER IF THE oil scene looks like the 1970s again, it is. Again, the Middle East is the focalREUTERS - 1,454 words
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Page 21 Advertisements
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Advertisement104 2006-07-20 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletter@sph. com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind104 words
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Advertisement27 2006-07-20 21 Lianhe Zaobao [female honcho I Italks about the I 91 Si ll® 3 types of I ■DO tS V M I ||i people I H on earth27 words
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Article9583 2006-07-20 22 SGX MAINBOARD Transaction date: Jul 19 52-Wk T«l Ust Vol Day lartQuott GfOtv Dtv OrYld Nat MCap Wgh Low Coda Company Sala +I- COOP) Wgh to* 8wy» s r C«t WE hi* J* 4 1 5716 1st Software 5c 2.5 2 2 5 10 2 12 6 31489,583 words
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Page 22 Advertisements
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Advertisement11 2006-07-20 22 AcoMft^AelXuS?Euro Mock* Select Exchange Haded Fund* and Indlcee Competitive Commteeton charge*11 words
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Article6188 2006-07-20 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES t* total on In Si It. USi S dy yt dy %yf dy *yr Jul t» Indtoi Oitngm Chtnq* Oxwq* Q>«nq> Chang* Chang* WwttIndexPwliminjry 9495 -06 -7 1 08 4.7 4X7 0.0 «fAF£ Preliminary 9488 -1i> -75-13-15 4.1 17 Europe Preliminary 1778.5 4146,188 words
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Page 24 Advertisements
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Advertisement1893 2006-07-20 24 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination AFRICAN UON RDM/ATW/BMN/TLB/NAN SEAFRIEND CAM/NFK/SAV/NOL Loads Sinqapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIPPLE-EAST SERVICE F.E./S.E.A. SERVICE Destination ASEAN EXPRESS DBI/ABU/DOH/BRN/DMM/KWT Destination PAN BRIGHT DBI/ABU/DOH/BRN/DMM/KWT ORIENTAL RIVER INC/BSN WIN HONEY INC/BSN Loads Singapore, E./W. Malaysia, Indonesia Loads E. Malaysia, Indonesia OTHER SERVICES1,893 words
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Advertisement641 2006-07-20 24 Wlw WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobal.com rasa voy uw hbcht sw uc mo say pal TAHAGO AMU 3201ns 6.4* 07/01 31/01 09/09 13/09 17/09 15/09 TAMERLANE AF625 320Tmi 6.4 M 26/08 20/09 29/09 03/10 07/10 05/10 TALAOOT AF627 400Twh 6JW __H/09_ 10/10 19/10 23/10 20/10 26/10 Naw York t Miami641 words
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Page 25 Advertisements
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Advertisement1506 2006-07-20 25 WAN HAI INTERNATIONAL PTI LTD at no iu959?0000/r uiAil 11 A I .tip#. 111:*****588 (14UNES) FAX:6224U63 \\M\\A/A!J lIAI I INF\ OKtomerSefYite/lootogsDfed lie-(1800) *****200 V TIV flftll llnl kllvkl# PKLIH: (03) *****888 FAX: (**********8 KNIEL (04) *****00 FAX: (04)*****99 V— JOH TH: (07) *****23 NUb (07)*****21 *****75 FAX: Wl) *****14/ *****051,506 words
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Advertisement1150 2006-07-20 25 IVfSStI Ivor PKI I SIN I KARACHI I DXB I KAB NHS DMM OIK KHOB IRAN SATTARI PCI 8147 20/07 21/07 30/07 02/08 03/08 09/08 11/08 13/08 JOUY Pa 8148 31/07 08/08 11/08 12/08 18/08 20/08 22/08 IRAN KORPtSTAN PCI 8150 02/08 03/08 12/08 15/08 16/08 22/08 24/08 26/08 I1,150 words
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Advertisement779 2006-07-20 25 m a WEEKLY EXPRESS SAILING SCHEDULE I, ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTS I I VESSEL I VOY I SIN I HUANG |cOLOMIO IN. SHEVA COLONOO I BIHPBA&AWDHI I OIQSW I?JUL 20 JUL _11W 27 JUL 31 JUL ZJ W miv GAM PHI 010SW ?6 JUI OMIT779 words
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THE BUSINESS TIMES SHIPPING TIMES
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5458 2006-07-20 26 This ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Desfn Name Name Number Number SM Desfe Haw M— —■>er Number mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm 23/09 01/11 NGPL GAZELLE BANK SP201 *****288 To ABIDJAN (ABJ) 2003 Cote D'lvoire To DURBAN (DUR) 2118 South5,458 words
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BizIT
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Article, Illustration1030 2006-07-20 27 AMIT ROY CHOUDHURY - The software pioneer has changed its business model, writes AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY INFOCOMM pioneer Borland Software, which is in the process of changing its business model, is betting on Singapore to drive its next stage of growth in the crucial Asia Pacific1,030 words
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Article, Illustration437 2006-07-20 27 WINSTON CHAI - By WINSTON CHAI RADIO frequency identification (RFID) tags have been enlisted to boost the efficiency of retail and logistics sectors here. Now a new initiative is under way to use the technology to bring smiles to the faces of foreign visitors. Driving437 words
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Article, Illustration411 2006-07-20 27 ROLAND LIM - By ROLAND LIM SHOOTING into the highend digital single lens reflex (DSLR) camera market earlier this week with its first model, the DSLR-AIOO, Sony has set its sights on snapping up some 10 per cent of the local DSLR market (currently dominated by Canon and411 words
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352 2006-07-20 27 Bloomberg [NEW YORK] Oracle Corp, the world's No 3 software maker, said its database business will help the company gain ground against SAP AG and competitors who sell programs to connect server computers. Oracle, whose database division includes "middleware" programs that connect servers,Bloomberg - 352 words
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517 2006-07-20 27 San Antonio, Sioux Falls have lower operating costs NYT [AUSTIN] Mounting corporate concerns about protecting computer-based information are driving a surge in data-centre construction in the US. And though Austin has landed some big wins such as projects for Hewlett-Packard Co, Home DepotNYT - 517 words
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Page 28 Advertisements
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Advertisement3703 2006-07-20 28 WAT^ NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg I BUY IT-SELL IT-FIND IT NOTICE OF APPOINTMENT OF LIQUIDATOR SIM CITY 4 LIMITED On Liquidation) (the "Company") An International Business Company COMPANY NUMBER: *****7 NOTICE is hereby given that the Liquidation of the Company commenced on 26 May 2006 and Mark Chapman3,703 words
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Advertisement272 2006-07-20 28 NOTICE OF APPOINTMENT OF LIQUIDATOR SIM CITY 7 LIMITED On Liquidation) (the "Company") An International Business Company COMPANY NUMBER: *****0 NOTICE is hereby given that the Liquidation of the Company commenced on 26 May 2006 and Mark Chapman of Deloitte Touche, James Frett Building, Wickhams Cay, Road Town Tortola, British272 words
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PROPERTY
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178 2006-07-20 29 JAPAN-based construction company Penta-Ocean Construction has clinched the $478 million contract for the design and construction of Orchard Turn, the proposed retail and residential project located above the Orchard Road MRT station. The contract was awarded by Orchard Turn Holdings, a 50:50 joint178 words
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403 2006-07-20 29 ARTHUR SIM - New capital inflow will stimulate new real estate devt By ARTHUR SIM GLOBAL investments in direct commercial real estate rose 21 per cent fromUS$393 billion in 2004 to US$475 billion in 2005, according to David Geltner, director, Center for Real Estate, Massachusetts403 words
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Article251 2006-07-20 29 ARTHUR SIM - By ARTHUR SIM CAPITALAND and City Developments Ltd (CDL) are this weekend separately holding Singapore launches of high-end Bangkok condominiums, to entice Singaporeans looking for second homes. Heng Hua Thong, executive director, DTZ Debenham Tie Leung (SEA), says that with the projects in Thailand that he251 words
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Article, Illustration845 2006-07-20 30 KALPANA RASHIWALA - Wheelock's exec director tells KALPANA RASHIWALA why luxury properties are like diamonds KALPANA RASHIWALA Diamonds and luxury properties are as different as chalk is from cheese. But Wheelock Properties (Sinfirst woman executive director, Tan Bee Kim, compares developing luxury properties to cutting and setting diamonds. "You may haveYEN MENG JIIN - 845 words
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1599 2006-07-20 30 PROJECT NAME/ PROP CONTRACT TENURE BUIGMN/IAND PRICE PSF STREET NAME TYPE DATE AREA*(SQ FT) (S$'000) (S$) District 1 NON-LANDED People's Parte Cptx Apt 28/06/2006 99 1119 333 297 The Sal At Marina Bay Apt 19/06/2006 99 936 1264 1 349 District1,599 words
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Page 29 Advertisements
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Advertisement345 2006-07-20 29 k Parakou /t •<; Building I; i The ONLY brand new office building along Robinson Road Good view/good natural light 486 Typical floor plate of 5,360 sq ft iii Flexible VRV aircon system Avai a 3 e i mme diately for lease Soi« Mjyketing Agent: Winston Po 9796 4957 Agnes345 words
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Advertisement385 2006-07-20 29 65 To 77 Marne Road <$> m Freehold SjifA 11.077 sq.ft. -a 3, Pro^* oJ) Plot Ratio 3.0 k J? Nex To Farrer MRT faff™tßSkA Closing date 17th Aug 06, 2.30pm HQR.ZON 0332 7171 savnis Rare Investment Opportunity MacPherson vicinity Freehold 9-storey Industrial Building 100% tenanted Land 37,000 sqft GFA385 words
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Page 30 Advertisements
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Advertisement119 2006-07-20 30 Property A No. 19 Mandai Estate Type 7-Storey Industrial Building Tenure Freehold Strata Area 77,285 sq ft No of Units 27 strata units Property B No. 60 Hillview Terrace Type 2-Storey Terrace Factory Tenure Freehold Land Area 4,940 sq ft Floor Area 5,800 sq ft (approx.) Property C #12-04 Bt119 words
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Advertisement70 2006-07-20 30 I UE Print Media Hub, at Paya Lebar Road I BRAND NEW, TOP Ist Quarter 2007 I 5-storey building with basement carpark I Units from 1,300 sqft 6,800 sqft I Food Court in Building I Next to Circle Line MRT Station HHHHHR II Attractive Rentals I Sole Marketing Agtnt I70 words
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