The Business Times, 1 September 2006

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Total Pages: 32
1 32 The Business Times
  • 23 1 THE BUSINESS TIMES ■Vth ANNIVERSARY 3D A SINGAPORE PRESS HOLDINGS PUBLICATION MICA (P) 099/03/2006 Friday, September 1,2006 SINGAPORE 85 cents online at http://business-times.asial.com.sg
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  • 744 1  -  Govt says it has taken into account the pros and cons By WONG WEI KONG [SINGAPORE] Mandatory quarterly reporting for listed companies a highly controversial requirement will stay. The Ministry of Finance (MOF) said yesterday it has accepted a key recommendation by the Council on
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  • 750 1  -  DEVELOPMENT CHARGES Average for non-landed residential up 9% By KALPANA RASHIWALA [SINGAPORE] In tandem with rising land values over the past six months, the government yesterday raised development charge (DC) rates for non-landed residential use by as much as 38 per
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  • 135 1 STI 2,482.39 (+10.99) ST INDEX FUTURES 2,488.00 (+17.00) SIMSCI 296.00 (+1.62) SIMSCI FUTURES 296.80 (+2.20) MARKETS Thursday Change KLSECOMP Closed NIKKEI 225 16,140.76 +268.74 HANG SENG 17,392.27 +107.56 SET INDEX 690.90 +€-39 JAKARTA COMP 1,431.26 +6.04 MANILA COMP 2,312.23 +15.45 SEOUL COMP 1.352.74 +11.39 SHENZHENB 292.80 +1.24 MUMBAIIND
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  • Page 1 Advertisements
    • 9 1 COMPANY AUDITORS Market must rethink their role PAGE 20
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    • 79 1 THE DEVIL WEARS PRADA Hell of a show by Streep PAGE 31 111(11 8 *****1 '*****4 11 1 jsjjpWB S VS ,j9 fl HI M fl 100 questions in 100 countries for 100 years That's the essence of Gallup Organisation's latest mega project, a World Poll to capture the voices
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    • 61 1 m PROFILE One novelist's j mission PAGE 29 CEOs, mm T <> p mexecs who ROCK Executive Lifestyle PAGE 28 iin en BR| W /iwm u fil i#il s f jMKrMKTJm JB#/ IB HHP Elk j 7 HflKf y/11 3" iz V V ■■w 11. mma i^rr a 2 u//
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  • TOP STORIES
    • 366 2  -  Boost from investment sales worth $6.2b in July and August, says CB Richard Ellis By KALPANA RASHIWALA [SINGAPORE] A whopping 556.2 billion of investment sales in July and August took total property sales in Singapore since the start of the year to 5519.3
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    • 473 2 S'pore companies are making more Chinese acquisitions SINGAPORE companies are buying up their counterparts in China in a big way, spending US$l.B4 billion on 30 acquisitions in the past year. American and British companies lead the way, however, with acquisitions of U555.37 billion and U553.46 billion respectively in
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    • 857 2  -  DC hike impact varies from $0-$50 psf per plot ratio By KALPANA RASHIWALA [SINGAPORE] Property owners and developers are pondering their next move in the collective sale game as they weigh the impact of the hike in development charge rates on en bloc sales.
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    • 99 2 IN the report "Over 10,000 personnel to ensure security" (BT, Aug 31) we said Senior Assistant Commissioner Aubeck Kam of the Singapore Police Force had pointed out that as a Singapore citizen, opposition politician Dr Chee Soon Juan does not need a permit to protest at the indoor zone
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    • 692 3  -  In the past year, firms here have inked 30 deals worth US$1.84b By JEANCHUA [SINGAPORE] Companies here are buying up their counterparts in China in a big way, spending a total of US$l.B4 billion on 30 acquisitions in the past year. The value
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    • 574 3  -  By LESLIE YEE [SINGAPORE] More than 40 organisations have signed up as partners for Singapore 2006, with contributions totaling more than $30 million in cash and in kind. This easily exceeds what was an ambitious target of $25 million, Minister o£ State
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  • Page 2 Advertisements
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  • COMPANY NEWS
    • 899 4  -  Rebounds in tech sector, M&As, strong earnings lend a hand By CONRAD TAN SINGAPORE'S stock market continued its recovery in August after a sharp fall in May, helped by a rebound in the tech sector, mergers and acquisitions (M&As) activity and strong corporate
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    • 681 4  -  HOCK LOCK SIEW By WONG WEI KONG THE earnings stinkers dropped by Bio-Treat Technology this week and Advanced Holdings earlier in August constitute a poor show by the management of both companies. Both are prominent stocks with strong research following and in both cases, management
      681 words
    • 587 5  -  ST Engg appoints chief for special projects, SFI CEO to retire early By CONRAD RAJ TWO Temasek-linked companies yesterday reported management changes at the top. Singapore Technologies Engineering (ST Engg), one of its largest entities with an annual turnover in excess of $3
      FILE PHOTOS  -  587 words
    • 378 5  -  By UMA SHANKARI PROPERTY developer Hiap Hoe Limited said yesterday that it has bought a residential site at Cavenagh Road which was put up for enbloc sale in July for $46.8 million. The freehold site of some 43,100 square feet, which right
      378 words
    • 526 9  -  He denies offering any form of gratification to Jetstar official By MICHELLE QUAH FORMER Airocean chief Thomas Tay was called to the stand yesterday, for his version of what happened that fateful day in April 2005 when he allegedly tried to bribe a
      526 words
    • 439 9  -  By MICHELLE QUAH INTEGRA2OOO's former chief executive Kwok Kah Kie has upped the ante in the fight for control of the company. BT has learned that he has applied to the High Court to have last week's extraordinary general meeting (EGM)
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    • COMPANY BRIEFS
      • 58 9 Citiraya shares for Heshe f Oei get nod THE judicial managers of Citiraya Industries said the company has received in-principle approval from Singapore Exchange for, firstly, the lifting of share trading suspension as well as the listing of new Citiraya shares to be issued in relation to a Heshe-Oei Hong
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      • 74 9 ELECTRONIC payments provider NETS has appointed Edmund Koh, DBS managing director and head of regional consumer banking, as its chairman. He replaces Susan Hwee, executive vice-president for information technology, United Overseas Bank. Mr Koh's appointment, effective today, is for a three-year term. Andrew Lee of OCBC
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      • 48 9 SINGAPORE Airlines has completed the sale of SIA Building at 77 Robinson Road for $343.88 million yesterday. The buyer is TSO Investment, a wholly owned subsidiary of Fudo Capital, which is a pan Asian real estate fund managed by CLSA Capital Partners.
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      • 53 9 KS ENERGY Services announced yesterday that it had entered into a bare boat charter contract with Pacific Exploration to lease a refurbished seismic exploration vessel for two years with an option for another two years. Total lease payment over the four years is
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      • 70 9 HAW Par Corporation announced yesterday that its wholly owned subsidiary Haw Par Healthcare entered a sale and purchase agreement with Strides Singapore to sell its entire shareholding in Drug Houses of Australia (Asia) Private Limited for $19.7 million in cash. Haw Par said
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    • 257 7 IPO WATCH Kangda Food seeks funds to raise output capacity, boost research CHINA Kangda Food has lodged its preliminary prospectus for a listing on the Singapore Exchange, planning to raise funds to increase production capacity and enhance its research and product development. Kangda Food's
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    • 386 7 SBI E2-Capital Asia Securities has pledged $100,000 to this year's Bull Run aimed at raising money for needy young people. The charity run through the Central Business District is scheduled for Nov 10, when participants from Singapore-listed companies and the financial industry will put on
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  • Page 4 Advertisements
    • 2413 4 :*at5 I eP NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg la The Matter Of The Companies Act, Cap. 50 And la The Matter Of 1) AIM A WILLS MARINE SURVEYORS PTE LTD Company Reg. No. *****7390H 2) MARINE FUEL CONSULTANTS INTERNATIONAL PTE LTD Company Reg. No. *****7389N Notice of Creditors' Meeting
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    • 263 4 HOT IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. BSAT3 NOTICES IN THE MATTER Of THE COMPANIES ACT, CAP. 50 AND IN THE MATTE* OF CEXPPTt LTD. (Company Royitmtion No: **********) (In Mombon' Voluntary liquidation) NOTICE Of FINAL
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  • Page 5 Advertisements
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    • 225 5 w: -k fife '-f. V Sjj y* vr V* r ip .V!• v i |^r At the sth Annual Starmine* Analyst Awards, 10 wins make DBS Vickers Number One in Pan Asia. To win in Asia you need to be prepared. And no brokerage is better placed than DBS Vickers.
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  • THE CFO INTERVIEW
    • 1837 6  -  English-educated CFO Tan Kang Fun of Eu Yan Sang Int'l believes in a hands-on approach to the TCM business, says CHEN HUIFEN CHEN HUIFEN IN AN age where supercomputers are performing complex mathematical functions in seconds, few people would find any value in the old-fash-ioned abacus.
      ARTHUR LEE  -  1,837 words
  • Page 6 Advertisements
    • 101 6 Vietnam's rofeifft economic pcrforfnsncfi sincl QrowinQ iff tyfinoc fo fitCßfityfi®pjt^Msv© s i. r-.—r»,» infrastructure scrvicss mission to both Hdnot and No Cht Mbvi Iptwi If* 20 Octwtr 2006* to showcase Singapore's planning, housing and township development fid! networking sessions with Vietnamese authorities and companies to explore potential collaboration g^B For
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  • Page 7 Advertisements
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  • SINGAPORE MARKETS
    • 531 8  -  STOCKS Real estate-related happenings boost HK Land, CityDev, S'pore Land and Keppel Land R SIVANITHY Senior Correspondent POSITIVE developments on the property front helped boost sentiment yesterday and add 10.99 points to the Straits Times Index at 2,482.39, a rise that was
      Source: Bloomberg  -  531 words
    • 990 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Aug 31 and earlier) Subsantial No of Prkt SHAREHOLDING Trans Shareholder/ BuyI Shares Mr Before After Stock Date Director Sell '000 Shr COOP) (OOP) Hotung Inv 31-Aug-06 NIF SMBC Ventures Co. Ltd ♦Sell 5500 na ***** 4.40 ***** 3.97 El-Nets 31-Aug-06
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    • Article, Illustration
      870 8  -  Compiled by UMA SHANKARI United Overseas Land Aug 31 d9M: 553.14 Cllltt-GK RESEARCH. Aug J1 UOL partners privately held Kheng Leong In a 70:30 JV to acquire Nassim Park, a freehold property located along Nassim Road, for Ss3Bo million. Based on a proposed GFA of 343,189 sf, the purchase
      Source: Bloomberg  -  870 words
    • 506 8 CURRENCIES Reuters [TOKYO] The yen hit a record low against the euro and a one-month trough versus the dollar yesterday, after weak Japanese industrial output figures reinforced expectations the Bank of Japan will take time raising interest rates. The low-yielding yen
      Reuters; REUTERS  -  506 words


  • SINGAPORE NEWS
    • 764 10  -  Four key targets in strategy aimed at allowing every student to excel By NANDE KHIN PRIME Minister Lee Hsien Loong yesterday mapped out a broad strategy to improve Singapore's education system so that every student, regardless of his or her abilities and background. can excel.
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    • 376 10  - S'poreOman economic pact likely by Dec By DANIEL BUENAS IN a move aimed at strengthening trade and investment. Singapore and Oman are negotiating an investment guarantee agreement (IGA) that could be in place by year-end. Speaking yesterday at the inaugural Oman-Singa-pore Business Forum, organised by the Singapore Business Federation, and
      SEYU TZYY WEI/UANHE ZAOBAO  -  376 words
    • 295 10  -  By ROLAND LIM THE Infocomm Development Authority of Singapore (IDA) yesterday pumped $15 million into a four-year infocomm programme to push infocomm adoption in the healthcare sector, starting with a new centralised clinic management system (CMS) targeted at all 1,400 clinics in Singapore. The CMS,
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    • 317 10  -  By WEE LI-EN MONTHLY visitor arrivals to Singapore reached a record 913,000 in July, up 4 per cent over the same month last year. It is also the highest figure ever recorded in a single month, according to the Singapore Tourism
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    • 292 10 A MASTER collaboration agreement between Exploit Technologies and the five local polytechnics to develop research output was announced yesterday. Exploit Technologies is the commercialisation arm of the Agency for Science, Technology and Research (A*Star) and the collaboration agreement will provide a $10 million fund over five
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    • 319 10  -  PROPERTY By UMA SHANKARI A 1.76 ha land parcel zoned for residential use at Simon Road next to Kovan MRT station is now open for application, said the Urban Redevelopment Authority (URA) yesterday. "This site is one of the most attractive-residential sites on
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    • 229 10 COMPETITION from foreign talent took centre stage at yesterday's Kent Ridge Ministerial Forum, a yearly event organised by the NUS Students' Political Association. This year's guest speaker was Ng Eng Hen, Minister for Manpower and Second Minister for Defence. And Dr Ng
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    • 182 10 RESIDENTS of some 2,300 strata-titled developments can expect better service from their managing agents (MAs) thanks to the launch of the Singapore Standard for Performance of Managing Agents for Strata Residential Properties. or SS 519:2006. The standard a world first aims to raise the
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    • 147 10 SINGAPORE'S first Biennale (SB2006) will be opened by Prime Minister Lee Hsien Loong at the Padang tonight. Celebrating the nation's first international contemporary art event, the party will mark the start of the two-and-a-half month long exhibition under the theme of "Belief'. The launch
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  • Page 11 Advertisements
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  • ECONOMY WATCH
    • 577 12  -  Industrial production falls 0,9%, against ah expected 0.7% rise By ANTHONY ROWLEY in Tokyo A RAFT of disappointing data yesterday sparked fears that Japan's economy may be headed for a slowdown. Weak consumption and industrial production in July, along with a
      AP  -  577 words
    • 303 12 AP, Bloomberg [FRANKFURT] The European Central Bank (ECB) yesterday left unchanged at 3 per cent its key interest rate, setting the stage for what analysts portend could be an increase in October. Later European Central Bank president Jean-Claude Trichet said "strong vigilance"
      AP,; Bloomberg  -  303 words
    • 352 12 Banks must keep as reserves 4% of non-yuan deposits Bloomberg [BEIJING] China ordered lenders to increase the amount of foreign currency they hold at the central bank for the first time since 2004, limiting cash available for investment and easing pressure
      Bloomberg  -  352 words
  • Page 12 Advertisements
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  • MALAYSIA/INDONESIA
    • 368 13 Racial, religious strains add to PM's woes over spats with Mahathir [KUALA LUMPURI Malaysian Prime Minister Abdullah Ahmad Badawi appealed for unity in the multi-racial country as the country marked Independence Day yesterday amid smouldering racial and religious tensions. "The solidarity of Malaysians is our
      REUTERS  -  368 words
    • 321 13 [KUALA LUMPUR] The Securities Commission (SC) has publicly reprimanded Deloitte KassimChan and Hwang-DBS Securities Bhd for failing to discharge their duties during the now aborted proposed reverse takeover of Ocean Capital by Pasaraya Hiong Kong, The Star reported. The SC said action was
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    • 345 13 Reuters [SINGAPORE] Indonesian miner Bumi Resources, which last week dropped a US$3.2 billion coal mine sale, is seeking a term loan to refinance a recent note issue of US$BOO million, a source close to the plan said yesterday. Bumi has mandated Credit Suisse
      Reuters  -  345 words
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  • Page 13 Advertisements
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  • GREATER CHINA
    • 381 14 US visa policies also another stumbling block to success on the mainland Bloomberg [WASHINGTON] American companies with operations in China say that overcoming US visa rules and getting qualified managers are among the top obstacles to success in the world's most
      Bloomberg  -  381 words
    • 297 14  -  Ching Cheong sentenced to 5 years' jail after 1 -day trial By WEE LI-EN [SINGAPORE] Appeals were made to the Chinese authorities yesterday to show leniency and compassion to a Straits Times journalist sentenced to five years behind bars for spying for Taiwan.
      AP  -  297 words
    • 499 14 [HONG KONG] Consolidation in the mainland's real estate market has sparked an investment frenzy among cash-rich overseas real estate funds and mainland developers, the South China Morning Post reported. While smaller developere are likely to run into fi- nancial difficulties at a time when
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    • 335 14 The 29.5% stake will give his 26-year-old foundation an amount of HK$2.4b Hutchison and Cheung Kong. Bloomberg [HONG KONG] Hong Kong billionaire Li Ka-shing, the world's lOth-richest man, donated his entire 29.5 per cent stake in CK Life Sciences International (Holdings)
      Hutchison and Cheung Kong. — Bloomberg; REUTERS  -  335 words
    • 220 14 [HONG KONG] The market for offshore listed China real estate investment trusts (Reits) could be affected by Beijing's latest measures to regulate property investment by foreigners, the South China Morning Post quoted a foreign institutional investor as sayingRichard van den Berg, ING Real Estate
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  • Page 14 Advertisements
    • 41 14 BTKfIW "Drinks at or mine?" Your personal table-top water dispenser with three big bottles for $30 (usual $175)? It's another special readers' offer in the run-up to BTs 30th anniversary in October. I* Wkt 1 ■fl MlMmuir The Business Times «jD
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  • INDIA
    • 335 15 Revenue from US companies dropped to 64% from 80% of Infosys' total sales US$21 billion. Bloomberg. Reuters, AP [NEW YORK] Infosys Technologies Ltd chief executive officer Nandan Nilekani said the Indian outsourcing company is getting a greater share of its sales from European customers
      US$21 billion. — Bloomberg. Reuters, AP; AP  -  335 words
    • 386 15 AP [NEW DELHI] India's central bank has warned the federal government against resorting to "off-budget" borrowings to cover losses incurred by state-run oil companies and food agencies, which would keep the fiscal deficit artificially low. Last month, the Finance Ministry agreed to issue bonds
      AP  -  386 words
    • 349 15  -  By By SIDDHARTH SR1VASTAVA in New Delhi THE countdown has begun for India's sixth round of New Exploration Licensing Policy (NELP-VI) for oil, with close to 70 firms, consultants, and organisations showing interest. Bids close on Sept 15, and the winner will be announced in about
      349 words
    • 563 15 Reuters [NEW DELHI] India may be one of the hottest stories in the car industry these days, but carmakers warn recent policy changes by the government are upsetting their business plans, threatening to make the market less appealing. Angling to turn India into a
      Reuters  -  563 words
    • 161 15 Economic Times [NEW DELHI] The acquisition of Matrix Laboratories by Myian is expected to trigger a new wave of activity on the M&A front in the Indian pharmaceuticals sector. While in the last few years, cross border transactions in the pharma
      Economic Times  -  161 words
  • Page 15 Advertisements
    • 492 15 .Discover a feast of exotic ingredients and aromatic flavours at the Royal Thai Buffet as guest chefs from Swissdtel Le Concorde, Bangkok fan appetite for fiery, ever-popuMK Thai culinary favourites. >■ ,i Adult Child Boftet Lunch $26.99. Buffet Dinner (Mon-Tbur) < H 11 |j (Fri Sun) $33.90 $20.90 > dine
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  • ASIA-PACIFIC/WORLD
    • 558 16 Sentosa IR co-bidder moves in on growing UK casino market Bloomberg [LONDON] Harrah's Entertainment, the world's largest casino company which together with Keppel Land is bidding for the Sentosa integrated resort (IR) site, agreed to buy London Clubs International Pic for £279.3
      Bloomberg; AP  -  558 words
    • 533 16  -  By OUR CORRESPONDENT in Bangkok THAILAND'S economy continues to show signs of weariness altbotigb the external picture remains robust as, the .country fecorded a surge inr exports, according to' data*reT£ased yesterday by the Bank of Thailand. For South-east Asia's second-largest economy, July
      533 words
    • 555 16 LATEST US DATA Incomes also rise by 0.5% in July AP. Reuters [WASHINGTON] Americans boosted their spending by the largest amount in six months and the back-to-school shopping season also got off to a strong start this summer, offering hope that
      AP.; Reuters  -  555 words
    • 290 16 AFP. Bloomberg [YALA, Thailand] A wave of small bombs exploded almost simultaneously early yesterday at 22 banks in Thailand's Muslim-majori-ty south, leaving one person dead and at least 29 injured, officials said. Militants, many of them dressed as students, left the bombs
      AFP.; Bloomberg  -  290 words
    • 499 16  -  However, serious imbalances need fixing: Unctad chief By RAVI KANTH in Geneva DESPITE "serious imbalances" in the world economy, global economic growth is expected to touch 3.6 per cent this year, largely due to an impressive performance of East and South Asian countries,
      499 words
    • WORLD WATCH
      • 73 16 Bloomberg [BANGKOK] Bangkok Metro, operator of the Thai capital's subway, may raise about 3.6 billion baht (Ssl 50.7 million) after setting the price for its initial public offering of 2.76 billion shares at 1.31 baht apiece. The price was announced by CLSA
        Bloomberg  -  73 words
      • 72 16 Bloomberg [NEW YORK] Merck Co won the first reversal of a damage award over its Vioxx painkiller when a judge said a US$5l million verdict was "grossly excessive". US District Judge Eldon Fallon in New Orleans ordered a new trial to assess
        Bloomberg  -  72 words
      • 74 16 Reuters [HANOI] The Vietnam National Textile and Garment Group has sought approval to reduce government stakes in 22 subsidiaries by selling state shares worth 111 billion dong (5510.9 million), the Tuoi Tre newspaper reported yesterday. The plan submitted recently to the Industry
        Reuters  -  74 words
      • 62 16 Bloomberg [BANGKOK] Thai Prime Minister Thaksin Shinawatra said more military officials will be arrested for their involvement in a foiled assassination plot against him. "I have been told now the scope of the probe has been widened and more people will
        Bloomberg  -  62 words
      • 74 16 AFP [TOKYO] Two former top executives of Hokkaido Takushoku Bank were sentenced to jail yesterday for extending risky loans that led to the collapse of the major banking group under a mass of bad debts. The Sapporo High Court in the northern island of
        AFP  -  74 words
      • 64 16 Bloomberg [WASHINGTON] Philip Watts, ousted as chairman of Royal Dutch Shell in 2004 amid an accounting probe, will not face legal action by US regulators, his lawyer said. The Securities and Exchange Commission completed its inquiry into the circumstances surrounding Shell's restated oil reserves.
        Bloomberg  -  64 words
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  • KEPPEL.CLIPPER – ROUND THE WORLD
    • 1241 17  -  Dreams discovered and lessons learnt during the Clipper race are still glowing bright, says BT journalist and sailor VINCENT WEE VINCENT WEE ALMOST a month after the Clipper 05-06 Round the World Yacht Race officially ended in Liverpool, the significance of what the crew of
      INGRID ABERY  -  1,241 words
  • Page 17 Advertisements

  • AVIATION
    • 493 18 AFP [BANGKOK] Bangkok's much-delayed new international airport is due finally to open next month, but following years of setbacks Thai travel industry experts still question whether it is really ready. Apichart Sankary, president of the Association of Thai Travel Agents
      AFP  -  493 words
    • Article, Illustration
      55 18 [TOULOUSE. France] Four of the five test Airbus A3BO planes cruising in formation on Wednesday during a publicity test flight over Toulouse. The test planes have made more than 580 flights and logged over 1,800 hours in the air. The first A3BO is scheduled for delivery to Singapore
      AFP  -  55 words
    • 530 18 But it says crisis is brewing over US-EU spat over security AFP [TOKYO] The global airline industry is set to almost halve its losses in 2006 but a crisis is brewing over US security measures that could stop thousands of people
      AFP  -  530 words
    • 169 18 AP [BRASILIA] Embraer, the Brazilian aircraft manufacturer, forged a US$2.7 billion deal with Chinese regional airline Hainan Airlines Company to supply 100 planes, half of which will be made in China. The deal was signed on Wednesday at the presidential palace Planalto in
      AP  -  169 words
    • 594 18  -  Passenger loads and revenue recover after uncertain period By VEN SREENIVASAN [SINGAPORE] India's Air Sahara has recovered from the upheaval and uncertainty of last year when it lost market share, staff and revenue amid a now-abort-ed merger with rival Jet Airways.
      ARTHUR LEE  -  594 words
    • 220 18 Bloomberg [SINGAPORE] Singapore's Changi Airport—Asia's sixth busiest —said its passenger volumes rose in July, a monthly record high this year, as economic growth encouraged more people to travel by air. Passenger volumes rose to 3.05 million last month, 5.2 per cent more than
      Bloomberg  -  220 words
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  • SHIPPING
    • 715 19  -  But report states that overcapacity is still a potential problem for carriers By DAVID HUGHES in London A NEW report has underlined the uncertainties facing the owners of dry bulk carriers over the next few years but the current market is proving more
      715 words
    • 167 19 Bloomberg [SINGAPORE] Daewoo Shipbuilding and Marine Engineering Co received the world's biggest order for building a drilling and production platform from a unit of US oil major Chevron Corp. The platform order, valued at 1.2 trillion won (551.97 billion), will be
      Bloomberg  -  167 words
    • 345 19 AP [MANILA] A remote-oper-ated probe yesterday found a sunken tanker in an upright position with little sign that it is continuing to leak oil that has tainted coastlines in the central Philippines, coast guard officials said. "It's still upright, its not
      AP  -  345 words
    • 327 19 Bloomberg [TAIPEII Evergreen Marine Corp, Asia's largest container shipping company by fleet size, unexpectedly had its first quarterly loss in three years because of lower freight rates and losses from investment. Net loss was NTSI.I6 billion (5555.2 million) in the three months
      Bloomberg  -  327 words
    • 768 19  -  ADMIRALTY CASEBOOK By SELVA KUMAR A CONTRACT to remove a sunken vessel is a maritime contract, a US appeals court ruled recently, rejecting an argument that it was not of a maritime nature because it was an agreement involving a "dead ship". The
      768 words
    • 502 19 Hutchison's India port bids fail on security grounds Bloomberg [NEW DELHI] India has no blanket restriction on Chinese companies bidding for port projects in the country, a maritime official said, following the failure of bids by Hong Kong's Hutchison Whampoa Ltd.
      Bloomberg  -  502 words
    • 259 19 jj®®® CHOfhhore.. 038 unch 118 ChaiHif 034 0.01 2792 Cowo Corporation 1.S3 -0j02 7336 CWT Distribution 0.80 unch 148 EzraHldgi 2JO 0.02 671 Freight Jntu 0 06 unch 1484 Grand lantaYact* 037 unch 50 Jma Holdings— 131 0.02 2196 K1 Venture 0.38 -0.01 3030 KappalCorp ..15.00 4.10 I960
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  • EDITORIAL & OPINION
    • 502 20 EDITORIAL BY NOW, the dreaded "R" word would have cropped up on the radar screens of most investors, the only unanswered questions being how severe the US slowdown will be and whether inflation pressures will persist If the US housing bubble deflates as rapidly as the early
      502 words
    • 979 20  -  Economy's competitive edge at risk as emigration reaches highest level since 1954 By RAINER BUERGIN Bloomberg THOMAS Koerber, an engineering technician from Viernheim, Germany, was looking for a new job. He found it 4,700 miles away, in Canada. "I looked around, found a job
      Bloomberg; BLOOMBERG  -  979 words
    • 786 20  -  THE BOTTOM LINE DAVID MASON ONCE upon a time, auditing was a profession to aspire to. Prestigious firms auditing household names, with respect all round. The audit opinion was worth a decent fee and confidence was placed in it. The services of audit firms
      786 words
    • 795 21  -  It should aim for a policy that effectively balances growth and development By APARNA SHIVPURI SINGH THERE has been much debate about the role Special Economic Zones (SEZ) play in the economic growth of a country, and whether they should be the first option, or
      AFP  -  795 words
    • 843 21  -  By BRAHMA CHELLANEY IHT NOTHING better illustrates the way global efforts to halt nuclear proliferation are at the mercy of international politics than the contrasting responses of the United Nations Security Council to the two latest proliferation cases. Iran was handed an
      IHT; AP  -  843 words
    • 268 21  -  LETTER TO THE EDITOR John Gollifer Head,Corporate Communications and Investor Relations Singapore Exchange WE refer to the news article "Cut bid spreads for penny stocks too" (BT, Aug 23) by Ven Sreenivasan. We would like to clarify two issues raised in the article.
      268 words

  • Page 21 Advertisements
    • 102 21 NAVE YOUKSAY Fax your letters to 6319-8277 or email them to btletterGsph. com.sg or write to: The Business Times, SPH HQ, 1000Toa 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.
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  • 9832 22 SGX MAINBOARD Transaction date: Aug 31 52 Wk Td Let Vol Day Ust Quote Mv GrVM Net MCm Higfc law Code Company Sale fBBI») High Loo »»y«r Sdht Cw S W Wl 4 1 5716 1st Software 2 23-- 8.1 115 6 3148 STetecom 6 -0.5 1 6
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  • 6095 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In S$ In US$ dy Syr %dy Syr %dy Syr Aug 30 Index Change Change Change Change Change Change Worid Index Preliminary 1013.1 0.1 4.5 0.2 2.2 03 8.0 < EAFE Preliminary 1022.6 0.3 5.1 0.7 6.2 0.8 12.2 Europe
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  • Page 24 Advertisements
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  • Page 25 Advertisements
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  • Page 26 Advertisements
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    • 170 26 G LINES f As Agents: CROSSEAST SHIPPING PTE LTD operator cod* GK CR NO: 778 3202 OOOOM Tel: 6327 1788 Fa*. 6327 1588 •-mall: bookingOcrossaait.com.sg WEBSITE: www.ganiki.com.my KUCHING 5 DAYS SAIUNG SHUTTLE SERVICE MINGRI MROIOE 05/09 07/09 MINGRI MROI2E 10/09 12/09 MINGRI MROI4E 15/09 17/09 *omm ENG LEE SHIPPING CO
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  • THE BUSINESS TIMES SHIPPING TIMES
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  • executive lifestyle
    • 1657 28  -  Nothing gets between these high-powered professionals and their passion for making music, writes GEOFFREY EU GEOFFREY EU IT'S approaching midnight on a recent weekend at The Wave, one of the many casual watering holes lining Kuta Beach in Bah. Business is far from brisk but the
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  • BOOKS
    • 478 29  -  WORDS FROM THE TOP Jonathan Yeo, managing director for Lexmark Asean/South Asia, talks to PARVATHI NAYAR about how books influence life PARVATHI NAYAR Q. You have said that Tom Peters' Business Excellence is a Disruptive Age, is a book that has really influenced you
      ARTHUR LEE  -  478 words
    • 1202 29  -  Novelist Romesh Gunesekera tells PARVATHI NAYAR that he is fascinated by the business of illusion and reality PARVATHI NAYAR THERE is a rather appealing aura of gentleness surrounding Londonbased, Sri Lankanborn novelist Romesh Gunesekera. He projects a certain sensitivity, made interestingly complex by his ready humour,
      ARTHUR LEE  -  1,202 words
    • 445 29  -  By RUCHIKA TULSHYAN ROMESH Gunesekera's latest offering misses the mark. While his versatility as a writer is unquestionable, The Match does not portray his full capabilities. The novel follows Sri Lankan born Sunny Fernando through his childhood in Manila to his adult life
      445 words
    • 431 29 A fortnightly listing of the latest books available in S'pore NON-FICTION What Israel Means To Me. edited and introduction by Alan Dershowitz ($38.80) An all-star effort of views by prominent people such as Larry King, Natalie Portman and Jonathan Kellerman on the current state of Israel democracy. The
      431 words
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  • ARTS/PURSUITS
    • 709 30  -  ART PARVATHI NAYAR checks out what architect Zaha Hadid is doing to showcase the travelling Deutsche Bank Collection at the SAM PARVATHI NAYAR HE essence of this collection is that it was not put together for a museum but for workplaces, and the way we have
      709 words
    • 937 30  -  WINE By N K YONG A FEW nights ago we were with a group of friends, all wine lovers, in a Chinese seafood restaurant. The food was good fresh, goodquality produce well-cooked by a sensible chef. The whites included three very fine
      937 words
    • 613 30  -  By SANGEETHA MADHAVAN EVEN as entries for the (JOB Painting of the Year Award (POYA) increase every year, Singapore's foremost art award has been accused of being stuck in a time warp. On the other hand, it has been lauded as
      613 words
  • Page 30 Miscellaneous
    • 318 30 CRYPTIC CROSSWORD ar r n <;«; t0 su PP° rt s n 9 ,e member (7) AU SS </N 5 Germany cover schedule and 1 The end of class? Hardly! (9,6) sparkle (7) 9 Drink too much, but find com- 5 Archer is at university, protectmon ground! (7) ed by
      318 words

  • ENTERTAINMENT
    • 643 31  -  CINEMA 'The Devil Wears Prada' is a frothy chick flick which also has substance, writes PARVATHI NAYAR PARVATHI NAYAR THE audience is treated to a mam-moth-sized build-up as, in anticipation of her arrival, the denizens of the Runway fashion magazine office push themselves into
      643 words
    • 311 31  -  DVD By PARVATHI NAYAR AMID all the global tensions we have experienced lately, seeing Paradise Now again has a special resonance. We see anew how Paradise which won the Golden Globe for best foreign film, and was nominated for the Oscars works
      311 words
    • 410 31  -  MUSIC By RUCHIKA TULSHYAN, PARVATHI NAYAR, MATTHEW PHAN WORLD of Music, Arts and Dance (Womad) is an art event that is experiential at many different levels: sonic, visual, gustatory and kinaesthetic. Set over three weekend nights last week at Fort Canning Park, Womad this
      410 words
  • Page 31 Advertisements
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  • INVINCIBLE SPIRIT
    • 633 32 Rolex Laureate David Lordkipanidze discovered the oldest human skulls outside of Africa D AVID Lordkipanidze, a Georgian palaeontologist, thinks he may have discovered one of the earliest examples of human compassion. The evidence is a toothless skull, dating to 1.75 million years ago, found at
      633 words
    • 752 32  -  All reports by MATTHEW PHAN IF anyone asks, the Megatherium a giant, prehistoric sloth that looked like a bear with long claws walked on two feet. Trivial as the fact may seem, it puts to rest years of scientific debate (some thought the herbivorous sloth was a
      752 words
    • 761 32 A LOVE of silk has taken Kikuo Morimoto a long way from his native Japan. This former apprentice of yuzen, the Japanese art of dyeing kimonos, has spent the last decade in Cambodia resurrecting a craft on the verge of disappearing from the country
      761 words
  • Page 32 Advertisements
    • 118 32 till I 5 IkBRCLExAWMDS y&r Enterprise i i* This is the third instalment of a five-part series presented in collaboration with the Rolex Awards for Enterprise. Every two years, the Rolex Awards for Enterprise give recognition and funds to outstanding individuals working in science, technology, exploration, the environment and cultural
      118 words