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BUSINESS TIMES, 8 November 2003

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Masthead [TITLE SECTION]

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MITA(P) 024/03/2003 85c THE BUSINESS TIMES weekend SINGAPORE NOVEMBER 8-9. 2003

Silver linings in S'pore retail gloom [ARTICLE+ILLUSTRATION]

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Silver linings in S'pore retail gloom All is not lost for retailers who survive the current crunch. KALPANA RASHIWALA reports KALPANA RASHIWALA TANG Wee Sung's recent proposal to privatise the listed CK Tang, which bled for 10 straight years, has once again put the spotlight on the woes of Singapore's

Sime takes 50% share in S'pore power company [ARTICLE]

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Sime takes 50% share in S'pore power company Malaysian player teams up with Shell Generating and Bechtel to build $898m plant From Diana Oon Abdullah in Kuala Lumpur MALAYSIAN conglomerate Sime Darby said yesterday it is taking a half-share in Island Power Holdings (IPH), which is setting up a power

Civil service starting pay to be cut by up to 20% [ARTICLE]

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Civil service starting pay to be cut by up to 20% New salaries from Jan 1 will affect 2,500 recruits By Chuang Peck Ming [SINGAPORE] In a move to bring civil service pay more in line with that of the private sector, the government will cut starting salaries by up

newsbreak

Surge in US payrolls [ARTICLE]

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Surge in US payrolls AFP [WASHINGTON] US businesses hired 126,000 extra people in October nearly twice as many as had been expected and the jobless rate fell to 6 per cent, the government said yesterday. The Labor Department said firms also had taken on 125,000 workers in the previous month,

Aussie boost for CapitaLand [ARTICLE]

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Aussie boost for CapitaLand [SINGAPORE] Capita Land's ventures Down Under seem to be paying off. While its third quarter earnings came in at $67 million, down 52.7 per cent, earnings from Australia and New Zealand helped buffer a weak Singapore market. Capita Land is expected to write down its office

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f^HEE SHOPPING It's raining designer handbags. MCE 16 BDBS Be rewarded with DBSS (DBSSI =Ssl) at Best Denki. Only with DBS Cards. g Best Denki now joins DBS Rewards in offering you cash rebates*on your purchases Wwhenever you use your DBS ATM Card or DBS Credit Cards. 2% DBSS cash

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PERSONAL INVESTMENT Do corporate mergers make money for shareholders? PAGE 7

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suppiSSgfe'" for you. ■ill s^srisrsooooA 1

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MOTORING Lexus LS43O: amarqueof silent comfort. RAFFLES CONVERSATION I. f?l Chumpol Nalamlieng. president of Siam Cement and SingTel's new chairman

newsfront

Frequent flyers don't call the shots—airlines do [ARTICLE]

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Frequent flyers don't call the shots —airlines do saturdaysoapbox Try redeeming your frequent flyer miles, and you'll realise that they are hemmed in with conditions with mike loh WHEN you sign up as a frequent flyer with an airline, you accumulate points when you fly, and you can exchange these

S'pore back in the race to host leading AMD fab [ARTICLE]

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S'pore back in the race to host leading AMD fab Chance comes alter the company revives plan for 65nm plant By Raju Chellam [SINGAPORE] Singapore may yet get a second chance to host the world's first cut-ting-edge semiconductor manufacturing facility following a decision by US chip giant Advanced Micro Devices

Zeti sees M'sia keeping ringgit peg under Abdullah [ARTICLE+ILLUSTRATION]

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Zeti sees M'sia keeping ringgit peg under Abdullah Continuity will be hallmark of the new PM's policy By Vikram Khanna [SINGAPORE] Barring "a major structural change", Malaysia won't review its ringgit peg and continuity will be the hallmark of economic policy under new Prime Minister Abdullah Badawi, the country's central

Koizumi may win, but only to face bigger crises [ARTICLE]

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Koizumi may win, but only to face bigger crises news analysis The enormity of the economic problems has forced the opposition to adopt a strategy to lose the polls, says ANTHONY ROWLEY from Tokyo ANTHONY ROWLEY JAPAN will go to the polls tomorrow for a lower house parliamentary election that

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THE RESCUE ARTIST [ARTICLE+ILLUSTRATION]

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THE RESCUE ARTIST Chumpol Nalamlieng steered Thailand's largest industrial conglomerate out of crippling debt and led its rehabilitation after the devastating financial crisis of the late *****. The president of Siam Cement, and SingTel's new chairman, shares his experiences with LOH HUI YIN in Bangkok. LOH HUI YIN THE huge

Towards the pan-Asian telco [ARTICLE]

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Towards the pan-Asian telco TELCOS? It's a new subject for me, declares the two-month old chairman of Singapore Telecom. "I'm wearing a new hat, still not very comfortable," says Chumpol Nalamlieng, who became chairman of Singapore's largest listed company in August. And in doing so, he has the distinction of

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The Raffles Conversation is brought to you through a 1 /fl special arrangement with Raffles International Hotels I OI I |OQ and Resorts. The Traveller's Palm in the Raffles JL VjCULL XvnJ International logo is an apt symbol. Not only has INTF R NATION A 1 water stored at the

news companies

NOL chief's top priority must be cutting debt [ARTICLE+ILLUSTRATION]

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NOL chief's top priority must be cutting debt corporate analysis The shipping line is on course for record earnings this year, say analysts Bloomberg David Lim's first year at the helm of Neptune Orient Lines Ltd, Singapore's largest shipping line, will probably show a record profit. Investors including Caleb Woo

CapitaLand Q3 profit falls 52.7% to $67m [ARTICLE+ILLUSTRATION]

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CapitaLand Q3 profit falls 52.7% to $67m Nine-month performance shows Aussie, NZ segment is dear leader By Andrea Tan SINGAPORE Inc's ventures Down Under seems to be bearing fruit. A day after Singapore Telecommunications said its Australian unit Optus turned in a strong performance, CapitaLand similarly reported a robust Australian

FINANCE [ARTICLE]

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FINANCE FOREX RATES USS S$ I'SS (SS per I'SS) 1.741 £fl'SS/SS pert) 1.667 2.902 El'RO(l SS «S E). 1.142 1.9H9 110.1 63 it) RM 3.800 1183 H KS 7.769 4.463 BAHT 3951 2192 RITIAH 8.491 4.877 RENMINBI 8199 4767 INDIAN RITEE 4518 26.01 AS 1.413 0.812 N'ZS 1.626 0334 PRIME

MARKETS [ARTICLE]

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MARKETS STI 1f769.09(+5.96)l f 769.09(+5.96) □ST INDEX FUTURES 1,773.00 (+12.00) SIMSCI FUTURES 215.60 (+0.60) Friday Change KLSE(X)MP 806.78 ±36 NIKKEI 225 __.I0.628.98 -76.68 HANG SENG _I2J1517 *6-508 SET INDEX 671 *346 JAKARTA COMP ***** -6.07 MANILA (X)MP .1.***** -1058 TAIPEI WPI 6.***** *4:14:1 SEOl'LOOMP 804.05 *1401 SHENZHEN B ±76 70

SingTel's overseas unite phone home with more profits [ARTICLE+ILLUSTRATION]

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SingTel's overseas unite phone home with more profits By Tang Weng Fai NOTHING much new can be expected by way of an encore. The recent performance of Sing Tel as demonstrated by its second-quarter results has highighted its critical and growing dependence on overseas associates. Analysts have been and still

STI fails to hold on to gains [ARTICLE+ILLUSTRATION]

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STI fails to hold on to gains market review wong wei kong SINGAPORE shares again failed to hold on to early gains yesterday and ended the session only slightly up but that broke a two-day losing streak. The Straits Times Index closed 5.96 points higher at 1,769.09. It hit a

FibreChem Tech may re-apply for SGX listing [ARTICLE]

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FibreChem Tech may re-apply for SGX listing Non-disclosure of firm's HK listing application said to be the problem By Serena Ng FIBRECHEM Technologies is considering re-submitting an application to list here, after the Singapore Exchange (SGX) withdrew its eligibility to list (ETL). Sources yesterday told BT that the excimnge had

Oei Hong Leong ups interest in Jurong Engineering to 23.4% [ARTICLE+ILLUSTRATION]

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Oei Hong Leong ups interest in Jurong Engineering to 23.4% By Wong Wei Kong 081 Hong Leong is nibbling again. Fresh from Increasing his stake in United Industrial Corp (UIC), the tycoon has bought more shares in Jurong Engineering Ltd (JEL). A purchase of 268,000 shares on Thursday through his

corporateroundup

Metal Comp seeks listing [ARTICLE]

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Metal Comp seeks listing AS China-based FibreChem Technologies saw its listing hopes in Singapore dashed, another aspirant Metal Component Engineering Limited yesterday lodged its preliminary prospectus with the Monetary Authority of Singapore to list on Sesdaq. Metal Component is a local precision metal stamping solutions provider incorporated in 1988 to

Sales will be flat Tan Chong [ARTICLE]

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Sales will be flat Tan Chong Bloomberg TAN Chong International Ltd, which distributes Nissan cars in Singapore, expects 2003 vehicle sales in the city to be little changed from the previous year, because of price competition and the lack of new models. The company expects to sell about 11,000 Nissan

SembCorp has a strong Q3 [ARTICLE]

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SembCorp has a strong Q3 Reuters POWERED by sales of offshore gas and electricity to Singapore, SembCorp Industries steamed through a robust September quarter, analysts said. Singapore's fourth-biggest conglomerate is expected to report on Tuesday a net profit of $74 million to $79 million for the third quarter ended September,

Maybank sells CAM shares [ARTICLE]

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Maybank sells CAM shares MALAYAN Banking Berhad has disposed of 14.7 million shares or 2.13 per cent in CAM International in the open market here. With the transaction, Maybank is now no longer a substantial shareholder of Cam. Malaysia's largest banking group had reduced its stake from 5.54 per cent

Telkomsel net doubles [ARTICLE]

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Telkomsel net doubles Bloomberg PT TELEKOMUNIKASI Selular, Indonesia's No 1 cellular operator. said profit in the nine months ended Sept 30 rose 50 per cent from a year ago as the number of mobile phone subscribers grew. Profit at the company, known as Telkomsel, rose to 3.06 trillion rupiah (Ss6l2

Juken's HK unit in Korean JV [ARTICLE]

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Juken's HK unit in Korean JV MAINBOARD-LISTED Juken Technology has announced that its whol-ly-owned subsidiary, Juken (HK) Co (JHK), has entered into a conditional joint venture agreement with KJ Pretech Co (KJP), a Korean manufacturing company dealing in precision plastic injection moulding. Juken said that the JV would give it

More foreign IPOs set to hit S'pore market [ARTICLE+ILLUSTRATION]

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More foreign IPOs set to hit S'pore market S'pore ranked fourth fastest growing IPO market for Jan-Oct period as China companies turn to city for listing Reuters FOR Nick Yang, founder of a mobile data service provider in China, the invitation to speak at a Singapore investment forum last month

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MMI HOLDINGS LIMITED (Incorporated in Singapore wilt) limited liability) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Fourteenth Annual General Meeting of MMI Holdings United ('the Company*) will be Held at I* Mendien Hotel, 100 Orchard Road $(*****0), on 24 November 2003 at 3 p.m. for the

money personal finance

brokers'take [ARTICLE+ILLUSTRATION]

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brokers'take Compiled by QUAK HIANG WHAI Singapore Telecom Nov 7 rlmiiy $L 79 SINGTEL'S earnings recovery story was reinforced again as Optus and associates continued to drive earnings while the domestic market remained anaemic as expected. Net profit of $473 million was inline with our estimate of $477 million, which

tradestowatch

Aegis ups EHipsiz, DMX stakes [ARTICLE]

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Aegis ups EHipsiz, DMX stakes AEGIS Portfolio Managers has rais«d its holdings in niche semiconductor solutions group EUipsiz and computer networking firm DMX Technologies. Aegis acquired one million shares in EUipsiz on Nov 4 at 52.58 cents apiece, raising its deemed shareholding to 6.59 per cent from 6.08 per cent.

Progen MD raises holdings [ARTICLE]

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Progen MD raises holdings LEE Ee, the chairman and managing director of air-conditioning systems provider Progen Holdings, bought 500.000 shares in the company on Nov 6 at 13 cents each via a married deal, possibly with another substantial shareholder Filings with the Singapore Exchange show that non-executive director Johnlin Yuwono

HG Metal director ups stake [ARTICLE]

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HG Metal director ups stake Compiled by SERENA NG TIAN Chye Heng. an executive director of HG Metal Manufacturing, bought 200,000 shares of the stockist and manufacturer of metal products at 33.3 cents apiece on Nov 5. His open-market purchase raised his direct stake in the company to 10.07 per

Whole life policy not meant for investment [ARTICLE]

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Whole life policy not meant for investment MAILBAG Benny Ong Chief Executive Officer Life Planning Associates Pte Ltd I REFER to the article by Genevieve Cua entitled "Estate Planning: Do you need a whole life plan?" (BT, Oct 25). A term plan, whether it is for five, 10, or 30

DBS offers new fixed plus floating rate mortgage [ARTICLE+ILLUSTRATION]

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DBS offers new fixed plus floating rate mortgage By Andrea Tan BARELY days after UOB launched its First Zero mortgage overdraft and bridging loan, DBS is offering a fixed plus floating rate housing loan scheme. Under DBS' Fixed Floating plan from its Mortgage 1-2-3 scheme, customers can have both fixed

SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS [ARTICLE]

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SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Sutaamlal We »f Pike SHAREHOLDING Trwis Shareholder Sn Stum Nf Mtfi After Stock Paw Director Com M» Slw I COOP) C*—) UK 0S-NOV-03 Chip Lian Inv Buy 890 0 85 ***** 5 3 ***** 5.4 Mufti-Chem 05-Nov-03 FooSuanSai Buy 1092 0 25 *****4 370 *****6 37 3

FINANCE [ARTICLE+ILLUSTRATION]

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FINANCE Transaction date:Nov 7 Aii-sns l-3»n long >3fs ntTERBAjfKCURREWCT KATES Against S$ Against US$ Against S$ Against USS Currencies Bid Offtr Bid Offtf Currtiiclas Bid Offer BW Offtr ssiys to too Si iyj to one utiii of foreign currency: units of foreign Australia* dollar 1.2315 1.2328 0.7075 0.7080 22 40

money personal investment

Beware pitfalls of much-touted cashback plans [ARTICLE+ILLUSTRATION]

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Beware pitfalls of much-touted cashback plans By Genevieve Cua YOU'RE shopping in the weekend, and suddenly a young man (or woman) stops you and asks: "How would you like to have a savings plan with a guaranteed cashback of 5 per cent annually?" Sounds attractive? If you're at a bank,

Who stands to gain in a takeover situation? [ARTICLE+ILLUSTRATION]

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Who stands to gain in a takeover situation? show me the money Shareholders of the acquiring company do not always lose out teh hooi ling DO you gain when the companies you have shares in announce acquisitions of other companies? Numerous studies have shown that there is usually a transfer

CPF-included unit trusts return 6.5% [ARTICLE+ILLUSTRATION]

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CPF-included unit trusts return 6.5% By Genevieve Cua STRONG gains by Asian stock markets in the third quarter boosted the performance of CPF-included equity unit trusts. The average return of CPFIS-included unit trusts was 6.49 per cent, compared with 12.24 per cent in the second quarter. Equity funds delivered the

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at home

S'pore refineries enjoy better capacity usage [ARTICLE+ILLUSTRATION]

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S'pore refineries enjoy better capacity usage EXCLUSIVE But they say improvement not sustainable, in contrast to situation in China, India and Malaysia By Ronnic Lim AFTER a dismal start to the year because of Sars, oil refiners in Singapore are finally seeing a pick-up in demand but it may not

UK seeks to woo tech-savvy SMEs [ARTICLE]

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UK seeks to woo tech-savvy SMEs Partnership scheme to connect S'pore firms with UK companies By Daniel Buenas THE British government aims to attract techno-logically-sawy Singapore SMss to invest in the UK via a partnering scheme that will help connect them with UK companies they can work with. The Global

S'pore to host collateralised debt obligation meeting [ARTICLE]

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S'pore to host collateralised debt obligation meeting SINGAPORE will be hosting Asia's first CDO (collateralised debt obligation) conference on Thursday next week, and some of the world's leading financial institutions will be participating. CDO, a mix between fixed income and structured finance, is essentially about repackaging high-yield bonds with low-credit

Half of ez-link cards sold are used for only 5 days [ARTICLE+ILLUSTRATION]

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Half of ez-link cards sold are used for only 5 days By Samuel Ee AN average of almost 50,000 ez-link cards are bought each month and used only for five days after their purchase. This is almost half the number of stored value fare-cards sold each month. The puzzling statistics

NTU, Shanghai varsity to offer exec MBA [ARTICLE]

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NTU, Shanghai varsity to offer exec MBA NANYANG Technological University (NTU) and Shanghai Jiao Tong University yesterday launched a joint executive MBA programme the first in a series of collaborations. Aimed at senior executives and industry leaders from Singapore. China and the region, the part-time EMBA Programme in Shanghai is

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SHC CAPITAL LIMITED (Incorporated in the Republic of Singapore) NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of SHC Capital Ltd (the •Company") will be held at 745 Toa Payoh Lorong 5, Singapore *****5 on 26 November 2003 at 3.00 p.m. for the purpose of considering and, if thought

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I MARKET RALLY I more I remisiers I exit I industry I

news region

Magnum in talks to run Indon numbers forecast ops [ARTICLE]

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Magnum in talks to run Indon numbers forecast ops Report says company trying to tap large population in Indonesia as part off regional expansion strategy [KUALA LUMPUR] Magnum Corp, Malaysia's biggest number betting company, said it is in talks to expand its business into Indonesia, as part of efforts to

Texmaco in danger of being liquidated [ARTICLE]

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Texmaco in danger of being liquidated Indon govt to meet next week to discuss textile film's future From Shoeb Kagda in Jakarta AFTER failing repeatedly to meet its debt obligations, Indonesia's giant Texmaco group faces the prospect of being liquidated by its creditors, which include the Indonesian Bank Restructuring Agency

M'sian PM to hasten police probes into corporate graft [ARTICLE+ILLUSTRATION]

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M'sian PM to hasten police probes into corporate graft Bloomberg, AP [KUALA LUMPUR] Malaysia's Prime Minister Abdullah Ahmad Badawi said he will speed up police investigations into companies including insolvent Perwaja Steel Sdn, in his resolve to curb corruption. "I have asked the attorney general to give me reports on

BAT exits Myanmar under British pressure [ARTICLE+ILLUSTRATION]

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BAT exits Myanmar under British pressure Tobacco giant will sell its 60% stake in plant co-owned with junta AFP [LONDON] Cigarette giant British American Tobacco (BAT) is pulling out of Myanmar after heavy pressure from the British government to withdraw due to human rights concerns, it said on Thursday. The

Foreign banks sue Indian govt over loan guarantees [ARTICLE]

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Foreign banks sue Indian govt over loan guarantees [MUMBAI] Foreign banks have launched unprecedented legal action against the government of India to retrieve guaranteed loans to the Indian power entity owned by collapsed energy company Enron, according to the Financial Times. Lawyers familiar with the situation said about US$6OO million

Merrill banker found dead in HK [ARTICLE]

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Merrill banker found dead in HK 39-year-old wife of the American held AP [HONG KONG] Police found the body of an American investment banker wrapped up in a storage unit and arrested his wife on suspicion of murder, after determining yesterday that he died of head injuries. Business Times' Hong

inbrief

Thaksin drops coalition partner [ARTICLE]

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Thaksin drops coalition partner AFP [BANGKOK] Thai Prime Minister Thaksin Shinawatra yesterday announced 12 changes in a sweeping cabinet reshuffle in which he ditched a government coalition partner, political sources said. He has said he is making "major" changes but has not publicly disclosed details ahead of approval by King

Commerce to sell Islamic bank stake [ARTICLE]

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Commerce to sell Islamic bank stake Bloomberg [KUALA LUMPUR] Commerce Asset-Holding said it agreed to sell 30 per cent of its Islamic banking unit to Bukhary Capital for RM155.1 million (Ss7l million). It expects to complete the sale of Bank Muamalat stake by the year-end, booking a profit of RM39.2

Call to probe Bank BNI rumour [ARTICLE]

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Call to probe Bank BNI rumour [JAKARTA] Indonesian Vice-President Hamzah Haz has asked the police to investigate a scandal involving funds from Bank Negara Indonesia, following unconfirmed reports that part of the funds had been used by presidential aspirants from Golkar Party, the Jakarta Post reported in its online edition.

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IHRBBIIH Call toll-free 1800 299 8822 In the matter of the Companies Act, (Cap. 50) And In the matter of WAH TIONG CO (PTE) LTD (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN PURSUANT TO SECTION 308( 1) of the Companies Act, (Cap. 50) that the

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NOTICES mwm NH CERAMICS LTD (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Annual General Meeting of the Company will be held at 1 A 3 Tuas Avenue 8 Jurong Industrial Estate Singapore *****7 on 24 November 2003 at 10.00 am.

Househunt Property transactions lodged for selected districts between Oct 30 and Nov 5. [ARTICLE]

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Househunt Property transactions lodged for selected districts between Oct 30 and Nov 5. Applies to landed property

news world

inbrief

US wholesale inventories up in Sept [ARTICLE]

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US wholesale inventories up in Sept Bloomberg [WASHINGTON] US wholesale inventories rose in September for the first time in six months as companies replenished depleted supplies to meet rising demand, a government report showed yesterday. The 0.4 per cent increase to U*****.8 billion followed a revised 0.1 per cent decrease

Ahold plans to raise 5b euros [ARTICLE]

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Ahold plans to raise 5b euros Bloomberg [AMSTERDAM] Royal Ahold NV, the Dutch supermarket operator that overstated profit for three years, plans to raise more than five billion euros (559.9 billion) by selling shares and shedding assets to reduce debt. The retailer will get at least 2.5 billion euros by

Microsoft may hire Google for Web search [ARTICLE]

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Microsoft may hire Google for Web search Bloomberg [NEW YORK] Microsoft Corp, which has yet to write programs that find advertisers' Web sites, may hire Google Inc to do such searches for its Internet service outside the US and UK, a person familiar with the companies' talks said. The world's

Foreign central banks buy more US debt [ARTICLE]

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Foreign central banks buy more US debt Reuters [NEW YORK] Foreign central bank holdings of US Treasury and agency debt climbed back above the US$l trillion level in the latest week to reach a record high. The Federal Reserve said on Thursday that its total holdings of Treasuries and agencies

Anthrax tests at US postal facility [ARTICLE]

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Anthrax tests at US postal facility Bloomberg [WASHINGTON] A US Postal Service facility in Washington that handles government mail was closed after automated equipment detected possible anthrax in the air, a Homeland Security Department official said yesterday. "Small amounts of a biological substance, possibly identified as anthrax," were detected at

A hint that era of low rates may be ending [ARTICLE+ILLUSTRATION]

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A hint that era of low rates may be ending But Greenspan makes it clear he wants to maintain the rates for several months NYT [WASHINGTON] US Federal Reserve chairman Alan Greenspan offered a first hint on Thursday that the era of rock-bottom interest rates may be slowly drawing to

Payrolls surge in Oct, jobless rate falls to 6% [ARTICLE]

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Payrolls surge in Oct, jobless rate falls to 6% LATEST US INDICATORS Labour market catching up with recovery: analysts Reuters, Bloomberg, AP [WASHINGTON] The US economy added more than twice the number of jobs expected in October and the jobless rate fell to 6 per cent, the government said yesterday

Top central bankers to meet amid talk of rate hike [ARTICLE]

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Top central bankers to meet amid talk of rate hike Bloomberg. Reuters [FRANKFURT] European Central Bank president Jean-Claude Trichet will meet fellow central bankers this weekend amid speculation that the UK's decision to raise credit costs will start a round of interest-rate increases as economies rebound. US Federal Reserve governor

Motorola CEO to get US$29m retirement package [ARTICLE]

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Motorola CEO to get US$29m retirement package Bloomberg [NEW YORK] Motorola Inc is giving chief executive officer Christopher Galvin a departure package worth at least US$29 million, including stock awards that vest when he retires. Mr Galvin, who is quitting because of disagreements with the board, has at least 800,000

F1 boss mulls over Aussie budget airline [ARTICLE]

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F1 boss mulls over Aussie budget airline AFP [SYDNEY] The boss of Formula One team Minardi, Paul Stoddart, is considering establishing a cut-price Australian airline to compete with Qantas and Richard Branson's Virgin Blue. "We have got the aircraft available and we have got the ability to make it happen

KPMG to cut ties to law firms in 60 countries [ARTICLE]

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KPMG to cut ties to law firms in 60 countries Accounting giant blames US Sarbanes-Oxley Act for its decision [LONDON] KPMG will stop providing legal services, and the big accounting firm blamed US corporate governance rules for its far-reach-ing decision, the Financial Times said. The firm told the FT that

Cracking down on pop-up spam [ARTICLE]

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Cracking down on pop-up spam AFP [WASHINGTON] US regulators on Thursday announced an effort to clamp down on a new type of "pop-up" advertising scheme that exploits a loophole in Microsoft Windows designed for network administrator messages. The Federal Trade Commission (FTC) said it had obtained a court order barring

Pension fund rejects NYSE revamp plan [ARTICLE+ILLUSTRATION]

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Pension fund rejects NYSE revamp plan Reed's proposal not representative off investors' interests, says Calpers NYT [NEW YORK] The United States' largest pension fund has urged federal regulators to reject the two-board structure for the New York Stock Exchange proposed by its interim chairman John Reed, calling it insufficiently independent

Closely-held US firms exempt from new rules [ARTICLE]

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Closely-held US firms exempt from new rules Bloomberg [NEW YORK] About 5,000 companies must have boards rim by a majority of independent directors under new US stock exchange rules approved by the US Securities and Exchange Commission. John Malone's Liberty Media Corp, Kirk Kerkorian's Metro-Goldwyn-May-er InC, Conrad Black's Hollinger International

KLSE [ARTICLE]

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KLSE Transaction date: Nov 7

STOCKS ASIA [ARTICLE]

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STOCKS ASIA Transaction date: Nov 7

style motoring

a marque of silent comfort [ARTICLE+ILLUSTRATION]

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a marque of silent comfort Lexus takes its hallmark LS model to the next level with a faster and quieter ride, says SAMUEL EE SAMUEL EE THREE generations and one mid-model restyle later, the luxury car that Toyota unveiled in 1989 to challenge the Europeans and Americans continues to uphold

The relentless pursuit of safety [ARTICLE+ILLUSTRATION]

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The relentless pursuit of safety By Samuel Ee LEXUS engineers say they take the marque's slogan "The relentless pursuit of perfection" very seriously when it comes to technological advancement. A recent visit to Toyota's Higashi-Fuji Technical Centre provided quite an insight into this commitment. The centre near Japan's Mount Fuji

UNIT TRUSTS & FUNDS [ARTICLE]

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UNIT TRUSTS FUNDS LtGtNO Al phcts art mdkawa aacapt tor b Mnogit «Mft (roady Dtweiifw* I ftomw*y Foowd; lower tek. Low to Madkan Rafc. k Medium «o Htoh KMc ••KgharHMc «n M r wdad.* Bator* wtxfcvaion of taita; Aftor wbdrvruon o< iintti. V aftar nock (pltC NA- Hon Dealing Day;

style sports

Uncertain path to semis for top teams [ARTICLE+ILLUSTRATION]

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Uncertain path to semis for top teams frankly speaking While previous predictions should still hold true, last weekend's matches suggest that there may be surprises along the way justin sampson YOU can thank Wales, Ireland, and their respective performances against Australia and the All Blacks last weekend for the change

Tiger puts up another test of putting skill [ARTICLE+ILLUSTRATION]

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Tiger puts up another test of putting skill By Ven Sreenivasan IF you didn't get to put your putting prowess to the test when the Tiger Skins Prowler roamed Singapore's streets several weeks ago, here's a chance to make up for it. For its final fringe event before the Tiger

SGX [ARTICLE]

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SGX Transaction date: Nov 7 TURNOVER rOOO) VALUE CtOO) Mala T0UI Mrta S«| TWI Mottilnd 19.317 t9.317 17.434 17.434 Manufacture 241,757 27,954 269,711 208.875 10.201 219.076 Commerce 37.310 4,473 41,783 19.514 1.330 20.M4 TptfStor/Com 91.716 452 92.168 12a 339 392 120.731 Finance 17.257 17.257 131.615 131.615 Construction 26,811 28,495 55.306

BONDS & WARRANTS [ARTICLE]

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SGX SESDAQ [ARTICLE]

Page 14

SGX SESDAQ tt-Wk Tal Last Vol Day Last Quote GrtNv On GrYW Mat MCap 52 Wk Tal Last Vol Day LastQwrta GrOt* Oto CttW Mat MCaa low Coda Company Ml COOP) High low Buyer SaSar Cvr m SwS Wjli low Coda Coafy Ma w- jgg low 6»yar M> Cw M

CLOB INTERNATIONAL [ARTICLE]

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CLOB INTERNATIONAL S2-M M Last Vol Day LaMQwtt GrO» Ok> GrVW IM MCa Ml t— Ca<e Ct S*» w- r«—> 1— CV m IK 91 6000 AVJemngi A25c A181 inch 34 181 179 181 182 40 8.8 5.5 6.9 3896 6001 CathayPac20c MK720 265 2.1 7.4 6 *****2 6002 Cheung

SGX XTRANET [ARTICLE]

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SGX XTRANET U M TM UM VM Day Lwt Quote GrOiv Wv OVM MM MCae M# I— Ct*» (lit SM» w- rn> I— rn*m S+m On HI jui 9600 89 6065 Diamonds US20G0cd 2130 3750 3740 6095 ISDJUSTcdt US3740 6097 ISMSOSpor* USS55 6101 ISSAKOO US8270 900 9650 9650 6170 STOWS...

style health

those little extras [ARTICLE+ILLUSTRATION]

Page 15

those little extras Supplements may be easily available but beware the one-pill-fits-all approach, as individual needs can be quite specific, writes IRFAN QURESHI IRFAN QURESHI THANKS to technology and efficient agriculture, our food supply has increased tremendously. The majority of people in the first world have ample food to eat,

Tour de Kirkby [ARTICLE+ILLUSTRATION]

Page 15

Tour de Kirkby Cycling is more than a weekend wheelie for Lend Lease's David Kirkby, as CHEAH UI-HOON finds out CHEAH UI-HOON THE highlight of the year for David Kirkby, CEO (South-east Asia) for Lend Lease Real Estate Investments, was participating non-competitively in the Tour de France in July a

SGX MAINBOARD [ARTICLE]

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SGX MAINBOARD Transaction date: Nov 7 for live prices, log on to wwu \asiaonemarkets£om

style shopping

a cut above [ARTICLE+ILLUSTRATION]

Page 16

a cut above With demand from the luxury segment picking up strongly and changes in table culture, the venerable Christofle rises to the challenge with new lines and fresh products. CORINNE KERK reports CORINNE KERK g§ VERYONE knows it for its luxj.-';<%■■■ urious and exclusive tableware. But behind Christofle's gleaming

Get carried away [ARTICLE+ILLUSTRATION]

Page 16

Get carried away Attention shoppers, you are now in bag heaven, with a slew of new designer brands hitting town, writes CORINNE KERK CORINNE KERK IT'S raining designer handbags in Singapore, and at the rate it's happening, you'll have absolutely no excuse to be caught carrying a sorry-looking sack anymore.

instore

Footloose and fancy free [ARTICLE+ILLUSTRATION]

Page 16

Footloose and fancy free Need a lazy slip-on for the office without appearing too casual? This will do the job, thanks to its sensual curves, glossy crocodile skin effect and 6cm heel. Priced at $39.90, the strapless sandal is available in brown, white and black at DMK including Plaza Singapura.

Gotta have pearls [ARTICLE+ILLUSTRATION]

Page 16

Gotta have pearls Something resplendent without showing off? You'll love this black Tahitian pearl. Only one of its kind, this South Sea drop-shaped pearl has a natural A peacock tone, set in 1BK yellow gold with dia- M monds. It's contemporary enough to wear to fl the office without looking

Touch wood [ARTICLE+ILLUSTRATION]

Page 16

Touch wood Need a corporate gift idea' 1 Try this handsome pen and business card holder, which can be customised with the recipient's name or designation depending on how you wish to manoeuvre. Made of Indonesian teak wood and laserc rafted. it can be opened to hold a pen. $62.50

Well contained [ARTICLE+ILLUSTRATION]

Page 16

Well contained Compiled by MIKE CHUA If you entertain at home frequently, check this out: a petite and pretty food warmer with floral motifs that can hold 1.4 litres of food, gravy or soup. The Wild Bush Covered Food Warmer is available at $69 at Metro, including Compass Point and

pursuits/wine&dine

entertainmentguide [ARTICLE+ILLUSTRATION]

Page 17

entertainmentguide Going out or staying in this weekend? We round up some recommendations books Not up to par The first thing that strikes you about the cover of The Altman Code is Robert Ludlum's name, which is several sizes bigger than the book title. This is another book in the

Page 17 Advertisements

Page 17 Advertisements Column 1 [ADVERTISEMENT]

Page 17

wine&dine with weekendßT 45 Boat Quay. Tel: (*****06 *81-09Chijmes. Te1:*****919 tea are rotted into total bill with your Oners Club Card. General terms and snails and avocado crabmeat au gratin and pepper steak V* offi «»uint on food MM' (aduft) $12 SO+++ (child). conditions $20.50+++(adult) and $12.50 (cn,w, discount on

food

going au naturale [ARTICLE+ILLUSTRATION]

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going au naturale As demand for organic meat grows slowly but steadily, supply is gradually catching up. JAIME EE reports JAIME EE HE organic movement in Singapore may be small, but there is nonetheless a steady demand for the growing range of organic, or at least additive-free products that are

When frozen is better than fresh [ARTICLE]

Page 18

When frozen is better than fresh ANOTHER new product on the market imported by Indoguna is Ocean Gems frozen prawns. While people tend to shun frozen prawns as being inferior to that found in the wet market, the reality is that frozen may actually be better than fresh, says Indoguna's

The glass ceiling [ARTICLE+ILLUSTRATION]

Page 18

The glass ceiling GEOFFREY EU discusses matters of glass with stemware sommelier Georg Riedel GEOFFREY EU WHEN Georg Riedel talks about wine and the proper vessels to drink it out of people listen. That's because he represents the 10th generation of the world's pre-emi-nent family of glassmakers, an unbroken dynasty

Page 18 Miscellaneous

Page 18 Miscellaneous Column 1 [MISCELLANEOUS]

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CRYPTIC CROSSWORD across Hebridean island (4) 6 One in this position rarely 1 Ordered security in invest- finds a welcome there ment (8) (2,3,3) 9 Key to fire engine? (8) 7 Steady business (4) 1 I')''' 5 U 3 Wrth 3 mother 031 Bln line for a pay-rise (8) 11