The Business Times, 31 August 2006

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Total Pages: 32
1 32 The Business Times
  • 21 1 THE BUSINESS TIMES JHf SINGAPORE 85 cents online at http://business-times.asial.com.sg A SINGAPORE PRESS HOLDINGS PUBLICATION MICA (P) 099/03/2006 Thursday, August 31,2006
    21 words
  • 642 1  -  Deductibility of borrowing expenses hinges on purpose of loan By WEE LI-EN [SINGAPORE] The Court of Appeal has delivered a landmark judgment against the Inland Revenue Authority of Singapore (Iras), allowing a property developer tax deductions of $4.3 million for borrowing and refinancing
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  • 858 1  -  It expects Singapore to generate more revenue because of the depth of the Asian tourism market By DANIEL BUENAS [SINGAPORE] Kerzner International, which has teamed up with Capita Land to bid for the Sentosa integrated resort (IR), believes the development would eventually
    858 words
  • 134 1 STI 2471.40 (+16.07) ST INDEX FUTURES 2,471.00 (+16.00) SIMSO ***** (+1.93) SIMSO FUTURES 294.60 (+1.70) MARKETS Wednesday Change KLSECOMP 958.12 +4.90 WOCEI225 15.872.02 -18.54 HANG SENG 17,284.71 +201.43 SET INDEX 684.51 -1.73 JAKARTA COMP 1.425.22 -7.71 MANILA COMP 2,296.78 -5.91 SEOUL COMP 1,341.35 -3.26 SHENZHEN B 291.56 +0.08
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  • Page 1 Advertisements

  • TOP STORIES
    • 393 2  -  IMF-WORLD BANK MEETINGS Tough measures are necessary and reasonable: police By CONRAD TAN [SINGAPORE] Police will be able to stop and search anyone at random anywhere in Singapore for the next three weeks as part of a massive security operation in the run-up to
      393 words
    • 129 2 IN The Business Times of Aug 29, we erroneously used a logo of Prudential pic in a report about Prudential Financial Inc. The latter company, whose principal place of business is in the US, is in no way affiliated with Prudential pic, which was established in London. In the
      129 words
    • 445 2  -  XtraSaver scheme touted as S'pore's first and only savings account with cash back By LESLIE YEE [SINGAPORE] Standard Chartered Bank has launched a new product that offers customers the chance to earn comparatively high interest on savings and get cash back for various
      445 words
    • 590 2  -  MALAYSIAN BUDGET Friday's Budget likely to be populist: analysts By S JAYASANKARAN in Kuala Lumpur MALAYSIAN Prime Minister Abdullah Badawi, who is on a collision course with his predecessor, is expected to boost public spending sharply when he tables the 2007 Budget tomorrow,
      REUTERS  -  590 words
    • 480 2 Kerzner earmarks 99% of Sentosa IR jobs for locals NINETY-NINE per cent of the jobs at the Sentosa integrated resort will go to Singaporeans if Kerzner International wins the bidding, and the company will set up a staff training institute here. Kerzner* s Atlantis resort in the Bahamas
      480 words
    • 489 3  -  Company plans to set up staff training institute here if it wins bid By DANIEL BUENAS [SINGAPORE] Ninety-nine per cent of the jobs at the Sentosa integrated resort will go to Singaporeans if Kerzner International wins the bidding, and the company
      489 words
    • 344 3 LATEST US DATA AP. Bloomberg [WASHINGTON] The US economy grew at a 2.9 per cent annual rate in the second quarter better than first estimated but nowhere near the brisk pace logged in the winter, another sign of slowing business growth. Inflation
      AP.; Bloomberg  -  344 words
    • 697 3  -  By ANNA TEO [SINGAPORE] Africa is an emerging story that Asia may not want to ignore for too long, says the World Bank's chief economist for Africa. While it has hardly turned the corner, the continent has had some success in exports
      697 words
  • Page 2 Advertisements
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  • Page 3 Advertisements
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  • Page 4 Advertisements
    • 263 4 to***. < Ji ■t us smi fli 8F E" re<l^' CHINA PRINTING DYEING HOLDING LIMITED (Incorporated in the Republic of Singapore on 26 August 2005) (Registration Number: *****1864G) Invitation in respect of 113,435,000 Invitation Shares comprising 96,000,000 New Shares and 17,435,000 Vendor Shares, as follows:(1) 5,700,000 Offer Shares at 550.27
      263 words
  • COMPANY NEWS
    • 599 4  -  Prosecution has made out 'prima facie' case against ex-Airocean chief By MICHELLE QUAH SUBORDINATE Court Judge Kow Keng Siong has rejected the defence's application to dismiss the case against former Airocean chief Thomas Tay, saying there is enough evidence on the face of
      599 words
    • 616 4  -  HOCK LOCK SIEW By S JAYASANKARAN THE key to the success of the Khazanah Na-sional-Parkway takeover of Malaysian healthcare provider Pantai Holdings hinges on the level of acceptance by minority shareholders of the general offer by the duo. If the joint venture
      616 words
    • 360 5  -  Directors say the bid grossly undervalues the group By MATTHEW PHAN AUSTRALIA'S Grand Hotel Group, in which Singapore's Tuan Sing Holdings has a 25.04 per cent stake, has rejected Mulpha Australia's takeover offer, dismissing it as "highly opportunistic". Mulpha Australia, a wholly owned subsidiary
      360 words
    • 407 5  -  By JEAN CHUA DEMAND was hot for Capita Mall's issue of 174.3 million new units, which it priced at $2>30 each. The initial 8.69 million units under its ATM tranche were snapped up yesterday within four minutes, prompting the real estate investment trust (Reit)
      407 words
    • 300 5  -  COURT CASES By MICHELLE QUAH NO APPEAL has been filed against the High Court acquittal of former Member of Parliament Lew Syn Pau which means that Judicial Commissioner Sundaresh Menon's decision to dismiss the criminal charges against Nfr Lew stands. The prosecution
      FILE PHOTO  -  300 words
    • 419 5  -  By CONRAD TAN ANOTHER person has been jailed in relation to the long-running scandal involving the mobile phone repair group formerly known as Accord Customer Care Solutions (ACCS). In a ruling that took his lawyer by surprise, 35-year-old Sim Ee Tong was sentenced to
      419 words
    • 408 7  -  The JV company is owned by UOL and Kheng Leong subsidiary Russville By LESLIE YEE IN ANOTHER major collective sale transaction, a joint venture company owned by UOL Group and a subsidiary of Kheng Leong Co Pte Ltd has signed a
      FILE PHOTO  -  408 words
    • COMPANY BRIEFS
      • 71 7 SC Global Developments announced yesterday that the Strata Titles Board had on Aug 28 approved its en-bloc purchase of all 72 strata lots and common property of Paterson Tower, which is located on Paterson Hill. Separately, SC Global's indirect wholly owned subsidiary SC Global Developments
        71 words
      • 57 7 HUANHsin Holdings announced yesterday.that it had entered into a joint venture agreement with ASUSTek Computer, a Taiwanese notebook manufacturer, to produce notebook casings in Shanghai. Huan Hsin will subscribe for 51 per cent of the capital of the joint-venture company, which will have
        57 words
      • 52 7 BAN Joo Company posted a loss of $34.6 million for the full year ended June 30, compared with a loss of $2.4 million a year ago. Ban Joo is currently negotiating with various bankers to restructure its borrowings through a debt
        52 words
      • 37 7 KHOO Eng Hock has resigned as chief financial officer of Yongnam Holdings, with effect from yesterday. The company's finance manager, Doris Yip, assumes the duties of CFO during the transitional period.
        37 words
      • 95 7 integra2ooo's Kwok Kah Kie has lost his job as chief executive officer. The company's board of directors said in a statement yesterday that a review of his service contract showed that his employment with the company will automatically terminate should he cease to be
        95 words
    • 457 7  -  By RONNIE LIM MAGNUS Energy which is restructuring itself as an energy play has slashed its full-year losses. It reported yesterday a loss attributable to equityholders of the company of $854,000, substantially down from $8.8 million in the previous year. Loss per
      457 words

  • Page 5 Advertisements
    • 131 5 THE NEW C R .1 H: i m/tf- I iflflHHv' i "idteg'&k.-; 1 > >,i- •-"p^v v rW"'* <& "'v*?Sfc/ 0 f'T^-^'^v.?-HHL jU OS||HHMH|^|HH^BHHHHHHIHi^^jMBHIHHHnHHHDHHHHMPPT3 Bold standard 18" chrome aluminium wheels Highly responsive handling mokes for a smooth drive An interior of fine leather evokes a sense of pore indulgence TirpfliSintftry
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  • SINGAPORE MARKETS
    • 529 6  -  STOCKS Index puts on 16 points, but the 170 falls in the broad market outnumber the 150 rises R SIVANITHY Senior Correspondent A LATE push on DBS, UOB and the Jardine group of stocks yesterday enabled the Straits Times Index to rise 16.07
      Source: Bloomberg  -  529 words
    • 975 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Aug 30 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy/ Share* Per Before After Stock Date Director Sell 000 Shr S C000) ('<XX» LeeKimTah 29-Aug-06 Lee Yong Chuan *Buy 154 0.37 *****1 60.87 *****5 60.90 LeeKimTah 29-Aug-06 Lee Soon
      975 words
    • Article, Illustration
      903 6  -  Complied by UMA SHANKARI Bio-Treat Technology Aug 30 clowi" 5? CITIGROUP RESEARCH. Aug 30 810-TREAT delivered a disappointing set of results with full-year revenues up 16.5 per cent to 1.46 billion yuan ($289 million), but net income was down 42 per" cent to 189 million yuan. The results
      Source: Bloomberg  -  903 words
    • 484 6 CURRENCIES Reuters [TOKYO] The dollar slipped further against the euro yesterday, after the minutes of the Federal Reserve's last meeting suggested the central bank is in no rush to raise interest rates again after pausing a two-year tightening campaign. But losses were mild
      Reuters; BLOOMBERG  -  484 words

  • Page 7 Advertisements
    • 77 7 British Virgin Islands Cayman Islands I^^TJf'WTfJjri^BatMUiias Mautfflufc Hongkong Samoa Full nominee, management, secretarial, banking and corporate administration services are available. I We also specialize in offshore trusts for assets protection estate J planning. For further information and immediate service please contact: Angela Nicolson or Marie Lim OFFSHORE CORPORATE SERVICES 1
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    • 129 7 Terms Conditions: Prices stated are per person for a round trip Business Class to Los Angeles and New York for travel out of Singapore from 14 Aug. The return travel and hotel stay must be completed by 30 Oct 06 Bookings are to be made from 14 Aue 12 Sep
      129 words

  • STOCK FOCUS
    • 1016 8  -  WONG WEI KONG looks at why education services provider TMC is not a stock for investors in a hurry WONG WEI KONG IT ISN'T difficult at all to argue an investment case for the educational services sector. The big picture is promising. The government is
      FILE PHOTO  -  1,016 words
  • Page 8 Advertisements
    • 70 8 HHHj J Real-time breaking news 7-day archive podcast rV4A/Ufay SsyS SI JL L£ "fcrlAZ/ rV@WAAZ/S L&Ks vodcast personalised email news alerts It urvus the,first couple, of ntontlvs after we, nu>ired here,. We, were, realty kontetLcJc THE STRAITS TIMES NT* 1 R ACTIVE u/H/tLL I subscribed/ to STI. It's A/S e/V~eYy
      70 words

  • SINGAPORE INTERNATIONAL
    • 1478 9  -  The Latin American economy is among the world's 10 largest with opportunities aplenty for S'pore firms, reports CHUANG PECK MING CHUANG PECK MING BRAZIL is better known for producing talented footballers. But how many Singaporeans know that 80 per cent of the frozen chickens we eat
      KEPPEL GROUP/AP FILE PHOTO  -  1,478 words
  • Page 9 Advertisements
    • 236 9 isrrTuSfoj■ jJ fv»%hi7 Asias premier JTIJ |Q 2006 Bus^ ness f° rum market experiences, insights and expertise; and network with decision makervfromboth contents. Keynote Addtp* rf il^ conomlc Growth tn Amenca: Outlook for 200? ;Mr K U m»r Chand Managing director, Kaybee k > Mr Juan Gonzales President Oceania and
      236 words
    • 15 9 ENTERPRISE THE BUSINESS TIMES SINGAPORE s>nn*w ftippiw ummiutmt ii wfcty iwtwi fcuuwd mSn tg ymt
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  • SINGAPORE NEWS
    • 369 10  -  By JEAN CHUA ELECTRONIC payment platform China Unionpay is using Singapore to expand outside the mainland and has already signed two banks and 3,500 merchants here to be on its network. Unionpay which has more than a billion cards in China aims to be
      369 words
    • 390 10  -  Scrapping need for prior approval for new ILP sub-funds among proposals By LESLIE YEE THE Monetary Authority of Singapore issued a consultation paper yesterday with proposals aimed at helping insurers offer cost-effective investment-linked life policies (ILPs) that provide broader investment choice and
      390 words
    • 635 10  -  Labour productivity among highest in Asia, but lags advanced nations By NANDE KHIN SINGAPORE remains very competitive economically, but more can be done to maintain this and even improve on it, Senior Minister Goh Chok Tong said yesterday. Speaking at the 25th anniversary dinner
      ZAOBAO  -  635 words
    • 571 10  -  By GENEVIEVE CUA STANDARD Chartered Bank customers, hit recently with a change in the terms of their home loans, are upset that they will have to top up their deposits if they wish to enjoy the same level of interest offset as the
      571 words
    • 504 10  -  By NANDE KHIN COMPANIES in Singapore now have the chance to improve employee engagement within their organisations; gain insights into how their employees perceive them; how engaged their employees are; as well as how they stand as an employer in Singapore and the
      504 words
    • 340 10  -  By CONRAD TAN MORE employers sent their staff for training last year amid a buoyant economy, according to the Manpower Ministry. Its survey of 2,400 private sector firms found that the proportion of those providing structured training such as workshops, seminars and classroom-based courses
      340 words
    • 218 10 THE Minister of Manpower (MOM) and the Workplace Safety and Health Advisory Committee (WSHAC) yesterday issued separate reminders that the Risk Mangement regulations under the Workplace Safety and Health Act will take effect from tomorrow. Under the regulations, employers, self-employed persons and principals
      218 words
  • Page 10 Advertisements
    • 469 10 ;*AT^ NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF TBMC PTE. LTD. CO REG NO. *****2208W (INCORPORATED IN SINGAPORE) (IN MEMBERS' VOLUNTARY WINDING UP) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN, pursuant to S«ction 308 of the Companies Act, Cap. 50, that
      469 words

  • ECONOMY WATCH
    • 633 11 President Trichet may raise interest rates more than the Fed and BOJ Bloomberg THE euro may advance on speculation that president Jean-Claude Trichet will today signal the European Central Bank (ECB) raising interest rates more than the Federal Reserve and the
      Bloomberg; REUTERS  -  633 words
    • 306 11  -  By OUR CORRESPONDENT in Bangkok THAILAND'S fragile economy is set to continue its growth momentum looking ahead over the next couple of years, fuelled by exports and a continued surge in domestic demand, Thailand's Ministry of Finance said yesterday. "For this
      306 words
    • 301 11 It cites higher-than-expected output in various industries AP [BEIJING] China's economy grew faster last year than originally thought, the government said yesterday, even as authorities try to rein in the booming growth they fear could create problems. The economy grew by 10.2
      AP  -  301 words
  • Page 11 Advertisements
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  • MALAYSIA/INDONESIA
    • 500 12 [KUALA LUMPUR] A whopping RM2B billion (Ssl2 billion) in market capitalisation could be "taken off" the stock market if all privatisation and delisting deals announced in 2006 come to fruition, according to a report in Malaysia's Business Times. This is, however, unlikely
      REUTERS  -  500 words
    • 215 12 Bloomberg [JAKARTA] Indonesia, South-east Asia's largest oil producer, will offer explorers as much as 40 per cent of oil and gas production revenue from areas put forward in its latest bidding round. Explorers will get between 15 per cent and
      Bloomberg  -  215 words
    • 499 12  -  Deal with Straits Trading values MSC at 21% below its last traded price By S JAYASANKARAN in Kuala Lumpur MMC Corporation, an infrastructure, power and ports conglomerate listed on the Kuala Lumpur stock exchange, has announced the sale of its 30 per cent
      499 words
    • 294 12 Bloomberg [KUALA LUMPUR] Petroliam Nasional Bhd, Malaysia's state oil company, said it was told by the government of Chad to suspend work and leave the oil-rich African country immediately because of a tax dispute. Petronas, as the Malaysian company is known,
      Bloomberg  -  294 words
    • 2201 12 VOl General Corp.., 0.58 unch 33 Aag 38 *M W- fOOO) Gentmg -.3430 0.10 480 George Kent 3.48 -031 50 AIM Realty 144 unch 5 GHL Systems .0.23 unch 1983 Ahric -0.32 001 15 Gtabetronia Tech 339 0.01 807 ACP mduories 0JS 002 36 GlomacBhd 1.07 unch 117
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  • Page 12 Advertisements
    • 1161 12 Mtv :»at^ 0 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF HAU ENGINEERING (FAR EAST) PTE LIMITED (IN MEMBERS' VOLUNTARY LIQUIDATION) CO. REG. NO *****0511N NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the Company held at 350 Jalan Boon Lay, Singapore
      1,161 words

  • GREATER CHINA
    • BRIEFLY ASIA
      • 66 13 Bloomberg [HONGKONG] Hopewell Holdings Ltd, a Hong Kong-based company which invests in toll roads and property, said full-year profit rose 18 per cent on increased income from managing highways. Net income for the year ended June 30 increased to HK52.25 billion (***** million), or HK$2.5O
        Bloomberg  -  66 words
      • 77 13 Reuters [JAKARTA] Indonesia's second-largest lender, PT Bank Central Asia Tbk, said first-half net profit rose 16.3 per cent from a year ago as it contained its cost of funds in a high interest rate environment. Indonesia's financial sector has had to contend with
        Reuters  -  77 words
      • 83 13 Bloomberg [MUMBAI] Mylan Laboratories Inc, the second-largest US maker of generic drugs by market value, will start its offer to buy an additional 20 per cent of India's Matrix Laboratories Ltd from shareholders on Oct 20. The US company, which seeks
        Bloomberg  -  83 words
      • 38 13 Reuters [KUALA LUMPUR] Malaysia's casino-to-power group Genting Bhd said yesterday that its Q2 earnings rose 6 per cent from a year earlier. Its power unit contributed most among all its businesses. —Reuters
        Reuters  -  38 words
    • 595 13 With global slowdown threat analysts see market pullback by Oct Reuters [HONG KONG/TAIWAN] For a short-term investor looking to buy into the strength in Asian technology stocks, the window of opportunity is fast closing, with analysts warning the sector rebound is likely
      Reuters  -  595 words
    • Article, Illustration
      55 13 AP [NANJING] A Chinese youth practising kung fu during a lesson at a 'martial arts school in Nanjing. China. More than a hundred Chinese youth aged between 6 and 16 from mainland China gather here to learn traditional Chinese martial arts and to be immersed in the
      AP  -  55 words
    • 487 13 NEWS ANALYSIS Move comes amid large amounts of foreign investment pouring in Reuters [SHANGHAI] Beijing is reshuffling key executives in China's financial industry to strengthen its control over banks and insurers as they attract large amounts of foreign investment. The
      Reuters  -  487 words
    • 262 13 Fixed-line carrier losing customers to wireless rivals Reuters [HONG KONG] China Telecom Corp Ltd, the bigger of the country's two fixed-line phone firms, posted a 4 per cent dip in first-half earnings. lagging expectations, as users switched increasingly to mobile services. China Telecom and
      Reuters  -  262 words
    • 229 13 Bloomberg IHONG KONG] Sinopec Shanghai Petrochemical Co, a unit of Asia's biggest oil refiner, slumped to a second-quarter loss as a 29 per cent jump in the cost of processing crude oil slashed earnings from producing fuels. Net loss in the
      Bloomberg  -  229 words
  • Page 13 Advertisements
    • 134 13 Club Card 7.0^^*****980 World of Exclusive Privileges Treats Diners Club I Yatalla Creek Chardonay I Carrying the distinctive crocodile label, every Yatalla Creek wine is a product of HJH the'flourishing fossiled landfrom which 1 I it came from. This wine promises an Lgy uplifting clear note of Chardonnay melon type
      134 words
    • 4 13 BLACK ARGOT sTEAKHousE -fam
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    • 59 13 Back by popular demand, Black Angus is proud to present our Tenderfoot Filet Mignon promotion for die month of September. Get 10% off every Filet Mignon order today! Exclusively at One Fullerton restaurant Only. Promotion Period: Ist September to 30th September 2006 Only availableOOne Fullerton Restaurant 1 Fullerton Road, #01-02/03
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      207 words

  • INDIA
    • 373 14 But they'll be limited to offering futures contracts to domestic clients Bloomberg [MUMBAI] India may let overseas securities firms such as Merrill Lynch Co offer brokerage services as a first step in opening the nation's US$45B billion commodity futures markets. The government,
      Bloomberg  -  373 words
    • 271 14 Reuters [MUMBAI] The world's second-big-gest truck maker, Volvo AB, is negotiating with the controlling family of Ashok Leyland Ltd for a stake in the Indian truck maker, the Times of India newspaper said on Tuesday. Quoting unnamed sources, it said
      Reuters  -  271 words
    • 445 14  -  By SIDDHARTH SRIVASTAVA m New Delhi INDIA'S outsourcing saga is getting bigger, with global demand on the rise. Indian firms are landing big deals and consequently embarking on some major Hiring. They are tackling a variety of projects. According to industry reports,
      445 words
    • 4982 14 UNIT TRUSTS FUNDS ABAmer Income A USD 8.55/ ABAmer income B USD 8.5V Ir ABAmer Income A EUR 6.661 AM tan Asset Mgt (S'pore) AB Amer Income B EUR 6.661 Agfa«ptomeOppATSGO JS-1V Star Europe Bond 1.192/ AB Ei*op Income Opp BT SGD 15.13* S» EtxopeBal 1185/ Ai Europ Income Opp
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  • Page 14 Advertisements

  • ASIA-PACIFIC/WORLD
    • 592 15 Sale set to be largest deal for a single property in recent US history NYT [NEW YORK] Metropolitan Life is putting Stuyvesant Town and Peter Cooper Villager stretch of 110 apartment buildings along the East River, on the auction block. With a target
      NYT  -  592 words
    • 458 15  -  By ANTHONY ROWLEY in Tokyo THE World Bank has announced the biggest-ever greenhouse gas deal, under which European and Asian companies will pay two Chinese chemical companies a total of just over US$l billion to reduce emissions of gas contributing to
      REUTERS  -  458 words
    • 788 15  -  ASIA INSIGHT There seems to be a desire to revert to isolationalism ANTHONY ROWLEY Tokyo Correspondent WHEN Junichiro Koizumi became prime minister five years ago, many saw it as the start of a golden age in which Japan would integrate fully with the rest
      788 words
    • 398 15 Reuters [MOSCOW] Russia's leading aluminium firm Rusal will take over its main competitor Sual and the aluminium industry assets of Swiss trading firm Glencore to create the world market leader, a source told Reuters yesterday. The transaction, which may be
      Reuters  -  398 words
    • 228 15 AP [SAN FRANCISCO] In a robust, full-tfodied move with just a hint of censure, Governor Arnold Schwarzenegger vetoed a bill on Monday that would have declared zinfandel to be the "historic wine" of California. In a veto memorandum, Mr Schwarzenegger said that
      AP  -  228 words
  • Page 15 Advertisements
    • 96 15 As Cebu Pacific Air's preferred service partner at Singapore Changi Airport, Singapore Airport Terminal Services (SATS) and SIA Engineering Company (SIAEC) are set to take our dynamic collaboration to greater heights. Deeply committed to delivering exceptional service from the heart, we'll always put the needs of you and your customers
      96 words

  • AVIATION
    • 524 16 Budget carrier posts 143% jump in Q4 earnings as sales rise 21% AP [KUALA LUMPUR] Malaysia's Air Asia is close to flying to Singapore, its chief executive Tony Fernandes said on Tuesday, after the budget carrier reported a 143 per cent on-year surge
      AP  -  524 words
    • 319 16 AFP [BANGKOK] Budget carrier Thai Air Asia said yesterday all of its flights will move to Bangkok's new international airport on Sept 25, three days ahead of the airport's official opening. Thai Air Asia, a joint venture between Thai
      AFP  -  319 words
    • 2155 16 CITY FLIGHT ETA HJ6NT ETD S0143 1535 SQ146 1640 GA840 1640 GA841 1755 SQ4$5 1135 1?0P jj-j- ggg »S IS !SS SI S5*- as ?S Sg-iS AF8087 1850 QF82 2215 MS9493 0735 EK405 0210 BA7381 1850 LH9770 2345 NZ4355 0735 EK433 0300 oral 1850 S0493 0735
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    • 232 16 AP [BEIJING] China is sending 18 air marshals to the United States for anti-terror training as the two governments prepare to station marshals on flights linking the two countries, a news report said yesterday. The Chinese marshals are to undergo two
      AP  -  232 words
    • 310 16 AFP. AP [HONG KONGI Hong Kong Dragon Airlines (Dragonair) may lay off as many as 700 staff after it is taken over by flag carrier Cathay Pacific Airways, a press report said yesterday. Citing an unnamed source, the Standard newspaper reported
      AFP.; AP  -  310 words
    • 474 16  -  Better fuel cost control yields positive results By PAULINE NG in Kuala Lumpur FURTHER improving yields and cost control initiatives have led to lower-than-ex-pected second quarter losses at Malaysia Airlines (MAS), and there are signs that its remaining quarters are likely to turn
      BLOOMBERG  -  474 words
    • LOG BOOK
      • 100 16 Bloomberg [SHANGHAI] Shanghai International Airport Co, which owns two of China's biggest air terminals, had a 19 per cent gain in second-quarter profit as demand for air travel and cargo transportation increased. Net income rose to 396.6 million yuan (5578.4 million) from 334.6
        Bloomberg  -  100 words
      • 93 16 Bloomberg [MUMBAI] India's commercial hub of Mumbai will get a second international airport to cope with the increase in passengers to the city, whose current airport is stretched to capacity. Bids for the airport will be sought next year and the facility will be ready
        Bloomberg  -  93 words
      • 57 16 Bloomberg [SYDNEY] Virgin Blue Holdings Ltd, Australia's second-biggest airline, and Malaysian Airline System Bhd (MAS) signed an agreement on Tuesday to share routes across their networks. Virgin Blue would also offer members of its loyalty programme access to MAS flights from Sept 1, the
        Bloomberg  -  57 words
  • Page 16 Miscellaneous
    • 197 16 CRYPTIC CROSSWORD DOWN (7) YESTERDAY'S SOLUTION 1 I and a friend take it in to copy 8 A false report of Man's man Across: 1 Bridle, 4 Scaffold, 9 Re(7) losing his head (7) mind, 10 Friction, 11 Border, 12 2 A pressing time (7) 15 Gail and Mona play
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  • SHIPPING/TRANSPORT
    • 691 17 Policy reforms and new incentives will help S'pore stay competitive [SINGAPORE] Nurturing the "soft skill sets" required to make Singapore a truly global maritime centre, is the main priority of the new head of the Maritime and Port Authority
      FILE PHOTO  -  691 words
    • 317 17 Reuters [LONDON] It will be news for most Londoners accustomed to being packed on underground trains or facing long waits for buses, but the British capital has been voted the best city in the world for public transport. One-quarter of international travellers
      Reuters; AFP  -  317 words
    • 392 17  -  By SIDDHARTH SRIVASTAVA in New Delhi INDIA appears to have made a decision to disallow China-linked companies from investing in, or managing Indian ports on security grounds, according to Indian media reports. According to The Times of India, the first company that
      392 words
    • 287 17 SOX *000 Aug 30 SS W- Vol CH Offshore O.Jt -0.02 167 Chuan Hup 033 0.01 763 Cosco Corporation 1.55 unch 3556 CWT Distribution .0.60 -0.01 10 Ezra Hldqs 330 0.14 1588 FreightOnks .0.06 -0.01 481 Grand Banks Yacht .0.87 0.01 20 jaya Holdings 1.36 0.02 4754 K1
      287 words
    • 418 17 Bloomberg [HONG KONG] Titan Petrochemicals Group Ltd, China's largest oil-supertanker owner, said profit fell 74 per cent in the first half of this year amid lower tanker rates and increased ship fuel prices. Net income declined to HK565.4 million (5513.2 million), or 1.32
      Bloomberg  -  418 words
    • 222 17 AP [COPENHAGEN] Danish shipping giant AP Moller-Maersk A/S said on Tuesday its net profit fell 35 per cent during the first half of 2006, but pleased investors by reiterating its full-year forecast. Maersk said net profit attributable to shareholdersJfeUto 7 billion kroner (SSI.9
      AP  -  222 words
    • 325 17 Bloomberg [SHANGHAI] Shanghai Port Container Co, the publicly traded unit of China's biggest port operator, had a drop in second-quarter profit because its Yangshan Port unit could not contribute earnings before it is certified by the government. Net income dropped 1.6 per cent
      Bloomberg  -  325 words
  • Page 17 Advertisements
    • 150 17 SOUTH EAST ASIA AND SOUTH ASIA/ AUSTRALIA TRADE FACILITATION AGREEMENT NOTICE TO TRADE RATE RESTORATION 1 OCTOBER 2006 The following Member Lines wish to inform the trade that as part of their Business Plan for 2006, another Rate Restoration will be implemented on 1 October 2006. With effect from 1
      150 words

  • EDITORIAL & OPINION
    • 561 18 EDITORIAL SINGAPOREANS want employers to help finance their retirement and meet healthcare costs, but employers see no need to that was the outcome of a recent survey by Watson Wyatt, a management consultancy. It should come as no surprise. Survey after survey has shown on how ill-pre-pared
      561 words
    • 753 18  -  THE BOTTOM LINE ROBERT SAMUELSON IT'S not surprising that, as The New York Times reports, leading Democratic politicians have latched onto bashing Wal-Mart as a "new rallying cry" that "could prove powerful in the mid-term elections and in 2008". America's political culture demands
      753 words
    • 1196 19  -  Signs of a weakening economy point to a downturn sometime next year By DAVID LEONHARDT NYT Nearly six years ago, when most forecasters were still whistling past the grave- yard, a small outfit in New York known as the Economic Cycle Research Institute said the 1990s
      NYT; BLOOMBERG  -  1,196 words
    • 936 19  -  By KEVIN HASSETT Bloomberg WHEN the US Federal Reserve Board voted on Aug 8 to hold its benchmark rate steady at 5.25 per cent, it ended a long period of successive rate increases. There is a lot of uncertainty about what will happen
      Bloomberg  -  936 words
    • 222 19  -  LETTER TO THE EDITOR Mike Rowse Director-General of Investment Promotion Hong Kong YOUR article on Hong Kong's appeal to foreign investors, "Pollution reduces HK's appeal to investors: survey" (BT, Aug 28), while underscoring the serious issue of air pollution, did not mention that international
      222 words
    • 905 18  - Has US hegemony been humbled in Lebanon Washington begs Chirac for help after slamming the French for opposing their Iraq invasion LEON HADAR Washington Correspondent A few days after the US troops had entered Baghdad and Saddam Hussein's statue was toppled, Condoleeza Rice (serving then as President George Bush's national
      AFP  -  905 words

  • Page 19 Advertisements
    • 109 19 HAVE YOUR SAY JS 6 Fax your letters to 6319-8277 or btletter@sph.com.sg or write to: The Business Times -iSPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel laws.
      109 words

  • 9238 20 SGX MAINBOARD Transaction date: Aug 30 52-Wk T«l Lact Vol Day LvtQuote Ml G(tM DM Mbp MMi Low Cod* Cowpay 5rt» *t- fWO Nfc» I—' C* HI W 4 1 5716 1st Software i. 2 2 3 11 115 6 3148 BTelecom 6.5 -0.5 913 6.5 6.5 6.5
    9,238 words

  • 5918 21 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In total tan la SJ to U» dy «yr dy %yi dy %yr Aug 29 IndM Change Ch«wq» Onn#» Change Ol«n— ChUQt 10*4 -01 4.0 -0.4 U -0.1 73 t EAFt Pwftminary ***** a4 47 go S3 0.3 11.4 Europe Preliminary ***** 02
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  • Page 22 Advertisements
    • 1489 22 UK CONTINIMT SERVICE U.S.A SERVICE Destination Destination EVGENIA RDM/ATW/BMN/TIB/NAN HANJIN PENANG LAX/VCW/MZL Loads Singapore, E./W. Malaysia, Indonesia Load, E ./y/. Malaria, Indonesia MIDDLE-EAST SERVICE F.EJS.E.A. SERVICE Destination VOYAGER V DBI/ABU/DOH/BRN/DMM/KWT Destination ASEAN PREMIER DBI/ABU/DOH/BRN/DMM/KWT STXPOTBN INC/BSN PAN DYNAMIC JDH/AQA ASEAN EXPRESS DBI/ABU/DOH/BRN/DMM/KWT Loads Singapore, E./W. Malaysia, Indonesia _J Loads E.
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    • 451 22 wXw WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobal.com vma vor w hdoht ik mo sav oai orf TALAOOT AH27 4001 M 4JM 14/00 10/10 10/10 23/10 10/10 24/10 TAUSMAN AH2O 320t0t MM 01/10 10/10 20/10 01/11 00/11 04/11 TOURCOMO AH2O 4001 M 4JM __Qy/l»_ 10/10 »/H H/H ly /H W ll Haw
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  • Page 23 Advertisements
    • 1299 23 WAN HAI INTERNATIONAL PTI LTD a NO: luwnooo/l I TIL *****5 M (14 LINES) FAX: *****163 \\M WAN HAI I INFS O»ta M rS«vfc./M<tagsDtodU H -(lS00) *****200 V f f Mil 11 Ml LIIIEJ fttHL(*****461MMX:(03)*****2MF811E;(04)*****00FAX:(048W64W V* JOHIH:(O7)2SIIV23FAX:(O7)2SItttI SUB TH; (031) 37*5475 NUt (031) 32*2714/ *****0 i .w«...L.in..u XT&mußHmMfcini) 5254 m
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    • 1010 23 Ivisstl Ivor MCI SIN KARACHI PX» OAO WHS DMM OIK ttHOK IRAN KOftDiSTAN PCL 1155 09/09 10/09 19/09 22/09 23/09 29/09 31/09 02/10 JOLLY Ptt 1154 11/09 20/09 21/09 27/09 29/09 31/09 WAN iAA»AII PCI >1571 15/09 16/09 23/09 20/09 29/09 1 04/10 06/101 0»/10 IVfSSiI VOY SIN NHAVA SHIVA
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    • 770 23 m WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS vessel vot I sw rmm cototoo usheva colqmio lAJIV 6AMOHI OIO6W 01 Sg OMIT OMIT HUB USEE KOT* rOtTAM* YPMO43 05 Sg 04 SEP 09 StP Llii? !ii2_ HOWUHBRIDGE 00SSW l2Sg 13Sg 16SEP 19Sff 23Sff KflTAPftwMu
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 5611 24 This HA PA A*arttear Vmm) Voyjja Tartan. ITA HA AM* Va«al Voyga Tjtojjjj. I Ml o«sf n Nmm Nama Number Nwnbar SIN Daarn Nam* Nmm NMBar hummt 26/09 11/10 Nortrans THOR NAUTtCA 7/06 *****776/86 To ABIDJAN (ABJ) 2003 Cott D'lvolra To DURBAN (DUR) 2118
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  • Page 25 Advertisements
    • 321 25 EZ does it More services added to EZ-Link's Net top-up. pg 29 SmLiooo _JJ@fs«E0o r b Uc 1 INVITATION FOR SUBMISSION OF AUDITED FINANCIALS FOR ANNUAL CORPORATE RANKINGS 2007 Ranking Period (financial year ending): 1 June 2005 31 May 2006 Closing Date for Submissions: 30 September 2006 To qualify for
      321 words
  • BizIT
    • 582 25  -  IDC has forecast Asia-Pac IPTV subscribers to exceed 20m by 2009 reports ROLAND LIM ROLAND LIM WHILE the jury is still out on how fast consumers in the region will take to watching television over a broadband connection, what is certain is that
      Source: IDC MPA, Credit Suisse estimates  -  582 words
    • 323 25  -  By ROLAND LIM DESPITE the popular notion that the growing electronics giant China will put a squeeze on the electronics industry in other countries in the region, a closer look at the electronics industry in Singapore has revealed that it still has an
      323 words
    • 528 25 Microsoft exec declines to confirm listed prices Bloomberg [SEATTLE] Microsoft Corp is selling its new Windows Vista operating system for US$lOO to US$399 and will make the program available on Jan 30, according to Amazon.com Inc's website. Amazon, which is already taking orders for
      Bloomberg; BLOOMBERG  -  528 words
    • 339 27  -  It is a Trojan horse in the guise of an e-mail order for the MP3 player By WINSTON CHAI HACKERS are hoping to ride on the popularity of the iPod by hiding a malicious computer program under the guise of an e-mail
      339 words
    • 615 27 AFP [NEW YORK] A new adver-tising-supporting free music website won the backing on Tuesday of Universal Music Group, creating a new model that could challenge market leader Apple Computer's iTunes Music Store. New York-based SpiralFrog, which plans to launch its
      AFP  -  615 words
    • 190 27 KODAK has launched a new high-end digital camera promising users the ability to capture faraway objects in razor sharp detail. The 7.1 megapixel Easyshare P712 boasts a 12x zoom that is complemented by the compa- ny's proprietary image stabilising technology for capturing fastmoving scenes such
      190 words
    • 484 29  -  The firm hopes to venture into new areas like retail, online shopping By WINSTON CHAI IN AN attempt to spur take-up for its new Internet top-up offering, EZ-Link now allows users to download discount coupons onto their commuter cards, and the firm is
      484 words
    • 218 29 Reuters [SAN FRANCISCO] Google Inc CEO Eric Schmidt is joining Apple Computer Inc's board of directors, the computer maker said on Tuesday, creating a close tie between two of Silicon Valley's most iconic companies. The addition of Mr Schmidt to the board of Cupertino, California-based
      Reuters  -  218 words
    • 452 29 AP [SHANGHAI] Apple Computer said yesterday it was working to resolve an awkward dispute over alleged labour abuses by an iPod manufacturer in China. Hongfujin Precision Industry Co, a major exporter owned by a Taiwanese company, filed a defamation lawsuit against two journalists
      AP  -  452 words
    • 146 29 Reuters [SAN FRANCISCO] Hackers broke into one of AT&T Inc's computer networks and stole credit card data and other personal information from several thousand customers who shopped at the telecommunication giant's online store. AT&T said it was notifying "fewer than 19,000" customers whose data was
      Reuters  -  146 words

  • BizIT FOCUS: LIFE AT THE TOP
    • 1582 26  -  For T Sivakumar, visiting the vast mountain range is a way of rediscovering himself and humanity, writes AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY WHEN asked why he wanted to climb the world's tallest mountain, Mount Everest, the famous British mountaineer George Mallory said in
      1,582 words
    • 192 26 Amit How has IT changed your life in the past five years, both at work and outside work? Sivakumar IT has made my life very mobile. In fact, it has facilitated a 24X7, 365 days a year office. It also has made the world
      192 words
  • Page 26 Advertisements
    • 59 26 cP THE POSSIBILITIES AHE INFINITE pJJ j y*' Fujitsu recommends Windows 01 XP Professional. f V/ J# t the very top, j there is only room for one. i i I i j I II II >,()()Y. (r, 'oio Powered by Intel 17 Mobile Technology. j j j 11 j|j
      59 words
    • 60 26 I Fujitsu I Fujitsu PC Asia Pacific H I pledges "Built-in 1 I Confidence" for every jfl 1 product under its brand I I name to reassure users H •of productand service excellence. From high performance components iM I to stringent quality control 9 I j and professional after-sales H
      60 words


  • Page 28 Advertisements
    • 2086 28 BT ADVERTORIAL Paperless office: a myth or reality? JES^SS "THE paperless office a term first coined more than 20 years ago," noted Herman Lundquist, senior marketing manager of Bbusiness imaging solutions at TPffi r^^h'r v Canon Singapore, at the Business Times-Canon Seminar last Friday. "However, we still have paper in
      2,086 words

  • Page 29 Advertisements
    • 200 29 >V.i \*> Jimm j y/\ jSSKKt I a I MAI ii rumaMMMi JM' y|S>vv\\\\\\\ flB M 11 mr imagine the world's first ultra-mobile PC that gives you endless possibilities Compact and lightweight, Samsung's Q1 Ultra-Mobile PC is the first of its kind in the world. Cjosely collaborated with Microsoft*, its
      200 words

  • PROPERTY
    • 546 30  -  Borrowing costs seen stabilising as US rates stay on hold By JANE MOIR in Hong Kong HONG KONG'S property market is taking on bullish prospects again, with a rebound expected in the second half of 2006 as borrowing costs for home owners plateau.
      546 words
    • 500 30 Reuters [HONG KONG] Drawing parallels with a 1990s boom, the manager of a mutual fund launched by US firm Cohen and Steers Inc says a glut of capital would lift Asian property markets and stocks, but the region would avoid a crash. Derek Cheung,
      Reuters  -  500 words
    • 400 31  -  $1,020 psf price reflects premium for condo's en bloc potential: analysts By KALPANA RASHIWALA THE collective sale of Silver Tower has yet to be concluded, but a penthouse in the freehold development in Cairnhill Road was sold yesterday for $6.12 million at an
      400 words
    • 482 31  -  Focusing on prime areas may affect urban renewal By UMA SHANKARI A PROPERTY forum on the popular en bloc and redevelopment issue held yesterday raised fears that developers are snapping up land and sometimes sitting on them at a cost of what might
      482 words
    • 360 31  -  By CHEW XIANG THE Land Transport Authority (LTA) is spending $25 million to manage construction traffic and reduce congestion in the Marina Bay area once development projects there get under way next year. These projects include the downtown extension of the
      360 words
    • 244 31 SP TAO and his Indonesian partner Mackmoor Pte Ltd have put Anson House up for sale. The indicative guide price for the 99-year leasehold building is $80 million or $1,110 per square foot based on the current net lettable area (NLA) of
      244 words
    • 168 31 WORK on the massive Business and Financial Centre (BFC) project in the Marina Bay area is set to begin soon with the award of a contract, in excess of $90 million, to Tiong Seng Contractors. The contract is for piling and preparatory groundwork
      168 words
    • 352 32  -  Price for the 19,335 sq ft freehold site works out to $1,154 ppr By KALPANA RASHIWALA FORMER Singapore Land chairman SP Tao's Shing Kwan Group has bought St Martin's Lodge in St Martin's Drive for $29.25 million in a collective sale. The
      352 words
    • 1516 32 PROJECT NAME/ PROP CONTRACT TENURE BUILMN/IAND PRICE PSF STREET NAME TYPE DATE AREA*(SQ FT) (SS'OOO) (S$) District 1 NON-LANDED IheSalAt Marina Bay Apt 18/08/2006 99 689 888 1289 The Sal At Mama Bay Apt 15/08/2006 99 667 626 938 The
      1,516 words
  • Page 30 Advertisements
    • 562 30 AVIVA FUNDS Soci6te dlnvestissement A Capita) Variable Registered Office 34, avenue de la Liberte, L-1830 LUXEMBOURG R.C.S. Luxembourg B 32 640 Notice Is hereby given that an EXTRAORDINARY GENERAL MEETING of Shareholders (the "Meeting") of Avtva Funds (tie "Company") will be held in Luxembourg on 12 September 2006 at 11.30
      562 words
    • 74 30 4-storey modem outlook office H| Freehold Good road frontage •> Self-contained parking lots lift K 1 Floor area-10,785 sq ft Ideal for Corporate HQ/Office Very near to Town MRT stations Sole Marketing Agent M Tedric Poh 6539 9113 ***** 244 wwwjonesiangtesafle.corTijg J Company R»fl No. ********** For Lease Office: 301
      74 words
    • 160 30 9 Lanc area 24 '531 sf, leasehold Zoned "Commercial" GPR 11.2 Alternative Residential use possible v 9 a,k n^^'stanceto P a 9 ar MßTStation Prominent corner plot, 66m frontage -i VA X ff//i//£//£/g[g Closing on 28 Sep 2006 (Thu), 2.30pm /»V /£//^//WW mbt x€/ LARGE PRIME RESIDENTIAL DEVELOPMENT SITE: SOPHIA
      160 words

  • Page 31 Advertisements
    • 29 31 Lianhe Zaobao M I Chinese I I becoming I I affluent I I 3 million families have over I I US$lOO,OOO in financial assets I 1 I IWAIMI I
      29 words
    • 479 31 r Prestigious District 10 Good s. Class Bungalow Area; u\ Freehold Sprawling 70,995 sq.ft.; J J subdivisable up to 4 plots For individual or collective i 1 K purchases M rV. ■9PMHMMIIM HOLLAND »1 IH 111 »1H vtast —HlBiliiilAlilliiifli 15.000 sq.ft. 1120,000 sq.ft. [35,000 sq.ft. 50,000 sq.ft. 70,995 sq.ft. j
      479 words

  • Page 32 Advertisements
    • 138 32 7 L rs. Avir^^ Tembeling Centre Golden Wall Centre Strata Area 440 sqm Strata Area 610 sqm Tenure Freehold Zoning Commercial Usage Ideal for Showroom, F&B, Retail Trades Please contact: Edmund Lee 9843 3965, Lennon Koh 9748 7400 I Dominic Peters 9825 2101, Cayce Kor 9828 9762 (dj) onesLang j
      138 words