The Business Times, 27 May 2003

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Total Pages: 24
1 24 The Business Times
  • 18 1 THE BUSINESS TIMES MITA (P) 024/03/2003 I lnlc r ne'- Kip://business-times.asial com.sg SINGAPORE TUESDAY, MAY 27, 2003 85*
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  • 648 1  -  BT exclusive Bnt proponents say the rule gives a more accurate reflection o! a company's health By Angela Tan [SINGAPORE] An international accounting standard on the treatment of investment properties that Singapore may adopt is giving property developers some sleepless nights. Their fear
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  • 498 1  -  EYE ON THE ECONOMY Surprise decline could signal recession for sector, say analysts By Daniel Buenas [SINGAPORE] Manufacturing output shrank 5 per cent year-on-year in April despite growth in the biomedical and chemical clusters and may signal a recession for the sector, some analysts believe.
    Source: EDS  -  498 words
  • 698 1  - Fang Ai Lian back at helm of Ernst Young She will take over as managing partner from July By Wong Wei Kong [SINGAPORE] Seen as having stepped back last year, Fang Ai Lian is now back at the vanguard of Singapore's largest accounting firm. Ernst Young Singapore (E&Y) yesterday announced
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  • 67 1 STI 1,335.34 (+17.20) ST INDEX FUTURES 1,332.00 (+12.00) SIMSCI FUTURES 164.00 (+2.00) Monday Change KLSECOMP 655.74 +4.86 NIKKEI 225 8.227.32 +42.56 HANG SENG 9.492.71 +188.98 SET INDEX 396.88 +136 JAKARTA COMP .478.41 +6.30 MANILA COMP .1.***** -040 TAIPEI WPI 4.465.57 +***** SEOILCOMP 617.65 +6.14 SHENZHEN B 221.72 +324 Al'ST
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  • 77 1 FOREX RATES US$ 8$ I'SS (SS per ISS) 1.722 £(l T S$/SS per 1.640 2.824 El R0|1SS/S$/E) 1.181 2.(83 YEN 116.9 67.90 RM 3.800 2.207 HKS 7.799 4 530 BAHT 4176 24.25 RIP1AH 8.152. 4.7:15 RENMINBI 8.299 4 821 INDIAN Rl PEE 46 89 27 24 PRIME RATES SINGAPORE*
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  • 503 1  -  Analysts say actual figure will torn on talks with pilots' nnion and coarse of travel slump By George Joseph [SINGAPORE] Singapore Airlines management and its pilots' union sit down today for the first round of some tough negotiations on wage cuts, just
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  • Page 1 Advertisements
    • 86 1 NOL returns to the black PAGE Mizuho Rank posts japan's biggest corporate loss PAGE 14 ULYSSE/NARDIN For Travel and Leisure Since 1846 Le Locle Suisse The only perpetual that adjusts back- and forwards from a single CROWN, EVEN IN THE YEAR 2100. SELF-WINDING MOVEMENT. PATENTED jC\j BIG DATE DISPLAY. WATER-RESISTANT
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    • 18 1 camera, ENTREPRENEURSHIP! I*4* REPORT. PAGE 3 For the press release on April 2003 manufacturing performance, go to http://business-times.asial.com.sg
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    • 16 1 Lim Boon Hong's speech: A bitter pill for companies and unions, Pg 10 s! 1 lIIISIII
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  • NEXT page
    • ON THE grapevine
      • 143 2 US investment advisory TheMogambo Guru had this to say in its May 6 newsletter: "An interesting quirk, maybe of the statistical kind, is that total wages were up a healthy 2.9 per cent in the last 12 months but most of the gains were apparently concentrated in
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      • 91 2 WHILE many people make the headlines for taking a stand, a New Yorker ended up on the front page of the Daily News after he was summoned for sitting on a milk crate in front of the hair salon where he worked. Jesse Taveras, a 19-year-old Bronx
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      • 113 2 LOOKS like one can never be too famous. Apparently, when Hollywood pop queen Christina Aguilera bumped into the world's richest computer genius Bill Gates of Microsoft at a Las Vegas computer exhibition. Gates a great fan of Aguilera joked that he could help her with any computer
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    • 717 2  -  Drinks maker: Don't assume similar deals for other OCBC units By\ Catherine Ong [SINGAPORE] Fraser Neave's latest deal with OCBC Bank to unravel cross-holdings in the Lee family-controlled entities shouldn't be seen as a prelude to similar moves in the OCBC stable, an F&N
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    • 298 2  -  Cap used in benefits illustrations stays at 5.25% despite calls to cnt it By Genevieve Cua (SINGAPORE] The Life In surance Association has decided to maintain the standard cap for the projection of the long-term returns from insurance plans at 5.25 per cent
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    • 664 2  -  Hong Chen aims to build Chinese version of Goldman From Jennifer Lien in Silicon Valley THE first mainland Chinese national to lead his company to a Nasdaq IPO now wants to spearhead the first Chinese version of Goldman Sachs and is looking to
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  • Page 2 Advertisements

  • PROMOTING entrepreneurship
    • 1203 3  -  Raymond Lim launches crack team to <ict on earlier plans to spur entrepreneurship, reports Anna Teo Anna Teo Enough -awi about what's ii' tded to ci« at** th»- huz/. Time to turn all that talk into action I hat's the spirit and motivation behind the
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  • Page 3 Advertisements
    • 157 3 IB At last, discover what I really works in the STOCK MARKET Hi I j Mirrmr MxWilliams and what doesn t w Hp strategy are i«d by Smart Money' IT Discover: I Why Price Action is the most significant piece of information! I Why Price Action precedes Technical Indicators! I
      157 words

  • SINGAPORE markets
    • Article, Illustration
      339 4 OTHER SINGAPORE INDICES May 26 VALUE CLOSE BTOG/OS 188.00 +17.00 BTCADt -*****.00 +170.00 BT 10-4ay MA -*****.00 tl 9 00 MI-SG Equities 364.15 +4.88 SG Eqaibes Elect 125.96 1.54 SG EqaNJes Fia 1128.72 +20.41 SGE«aitte»Pro» 331.76 +11-.11 MSB Singapore 164.60 +2.12 samsci Fatares 164.00 +2.00 Slocks Volume Wizoffice 5c 56,097,000
      339 words
    • 294 4  -  HOT STOCK/ WARRANT By 1 Ven Sreenivasan FRASER Neave's unwinding of its cross-holding stakes with OCBC Bank seems to have gone down remarkably well in the market. The stock jumped 30 cents to a new high of $8.75 yesterday. This comes after the company
      294 words
    • 624 4  -  I=ll comment STOCKS ven sreenivasan THE Singapore market opened the week mildly firmer, with the focus largely on situational counters. With Wall Street closed for a public holiday, local players looked to domestic developments and corporate activity for direction. Also on punters' watch-lists were companies
      624 words
    • 587 4 Intervention speculation helps to prop np yen against US currency AFP [TOKYO] The euro drifted just below a record high against the US dollar yesterday in quiet trade with the US and UK markets closed for a holiday, while intervention fears supported
      AFP  -  587 words
  • 3389 4 UNIT TRUSTS FUNDS Com Global Health Index Fd 0808/ Com Global Telecom Index Fd 0.42V i„ l im K 11J .i Com Global Infotec Index Fd!** 0284/ ASH AMU tan (S pore) Com Global Energy Index Fd 0 83V l Com Global TravXmdexFd 0 641/ Star Europe Bd. 1 30*
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  • SINGAPORE companies
    • 589 5  -  Significant profits seen for full year with recovery in freight rates and cost-cutting By Beth Jinks NEPTUNE Orient Lines (NOL) yesterday reported a stronger-than-expected turnaround in the first quarter, and said it expects "significant profits" for the full year. The net
      589 words
    • 463 5  -  They will ceme after Honggno's IPO yesterday By\ Kenneth Lim AT least six China firms may join the Singapore Exchange (SGX) this year, hot on the heels of shoemaker Hongguo International Holdings' initial public offer yesterday, says Choo Chee Kong, chief
      463 words
    • 569 5  -  lock siew denesh divyanathan AT a time when companies are bleeding left, right and centre and all the talk is of layoffs and pay cuts, Venture Corp is, yes, sitting pretty. Last Friday, Singapore's biggest electronics manufacturing services (EMS) provider again beat market
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    • 363 6  -  Lower profit recognition from Ardmore Park condo cited By Kalpana Rashiwala MARCO Polo Developments' full-year group net profit dropped from $173.4 million to $45.6 million, due mainly to lower profit recognition from the Ardmore Park luxury condo and an $80 million revaluation deficit
      FILE PHOTO  -  363 words
    • 274 6 JP Morgan Chase Co and DBS Group Holdings Ltd sold US$95 million of sevenyear bonds, backed by premiums paid to protect against US$l billion of default risk on a pool of loans. The bonds, sold via a special purpose vehicle, are tied
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    • 210 6  -  By I Denesh Divyanathan MAINBOARD-LISTED China Aviation Oil (Singapore) (CAO) said yesterday that it was on track to receive a cash distribution amounting to 105.6 million yuan (Ss22 million) from associate company Shanghai Pudong International Airport Aviation Fuel Supply Company (SPIA/AFSC). CAO said that
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    • 1478 6 PayoMat b Into h) Payma* b M* N| Id.) fc>. dw. in. W <— A Aberdeen lOp I 2 00p 11AX IAAx 16 Jul Omm Mold 5c S 1TI 03-AX 12-AX WWMSc f 0156N 2CHWIay 2 3 May Ob Ax OwMMc b 0 TO OS-AX 10-Ax 20-Ax APCMIntlSc
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    • COMPANY Briefs
      • 77 6 GWEE Lian Kheng, president and chief executive erf United Overseas Land sold 60,000 UOL shares at $1.93 apiece last Friday, reducing his direct stake to 240,000 shares. Declarations yesterday also showed he sold his entire holding of 100,000 warrants at 76.5 cents each. Mr Gwee
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      • 91 6 Bloomberg SINGAPORE Airport Terminal Services Ltd said its senior managers will take a pay cut, saving the company $1.9 million a year. A total of 60 staff, from managers to chief executives, will have their pay reduced by between 22.5 per cent and 27.5
        Bloomberg  -  91 words
      • 53 6 KEPPEL Corporation has raised its direct interest and correspondingly, reduced its deemed interest in subsidiary Keppel Telecommunications and Transportation (KTT) as part of "internal restructuring within the Keppel Group". A filing to the Singapore Exchange yesterday shows Keppel Corp now owns 81.16 per cent
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      • 100 6 FOLLOWING his resignation on May 19, Swing Media Technology Group's former chief executive William Hui Yan Sui continues to pare his stake in the company. On Friday, he sold another 15 million shares in the company, in a married deal, at 2.5 cents a
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      • 48 6 SURFACE Mount Technology's group turnover and net profit for the 12 months ended March 31,2003, were HK11.68 billion (Ss37l million) and HK595.4 million respectively. These compare with turnover of HK$l billion and net profit of HK$36.l million for the previous financial year.
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      • 46 6 VIBROPOWER Corporation Limited said the company's order book for generator sets has increased to $41 million as at April 30,2003, from $22 million as announced on March 4. All fresh orders cited are for delivery in the financial year ending Dec 31.
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      • 122 6 DARCO Water Technologies plans to raise net proceeds of about $12.15 million, through a proposed placement of 30 million new shares worth 42.5 cents each, to fund an acquisition in Indonesia. Darco plans to use $5.2 million to buy into 10 per cent of
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      • 57 6 MAGNECOMP International Limited has reported a turnaround to profitability with net profit of $3.9 million for the first quarter 0f2003. Group turnover rose 25 per cent to reach $64.2 million, compared to $51.3 million for the same period last year. The results include a profit
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      • 46 6 HIAP Hoe Limited said High Court of Singapore on Friday granted the discharge of the judicial manager of the company's wholly owned subsidiary, Chew Eu Hock Construction Co Pte Ltd. CEH Construction has been under judicial management since Nov 7,2001.
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      • 57 6 Bloomberg CEREBOS Pacific Ltd, which makes canned foods, said it sold its half of a joint venture with Yakult Honsha Co to Yakult for $22.6 million because the unit's cultured milk drink does not fit its product line. Cerebos said it will seek other investment opportunities
        Bloomberg  -  57 words
      • 36 6 OCBC Bank yesterday said Victor Ow, who heads its consumer and community lending division, has resigned, citing personal reasons. Mr Ow joined OCBC in 2001 and is expected to leave on Aug 5.
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      • 40 6 YONG Ying-I, who is permanent secretary at the Ministry of Manpower, has been appointed a non-executive director at SembCorp Industries. Miss Yong, 40, was CEO of InfoComm Development Authority of Singapore before joining the MOM.
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  • Page 5 Advertisements
    • 215 5 —Jr- I I r h l h r I s—~ 1 I Introducing Microsoft 9 Windows 9 Server 2003. Do more Nith less. V J You're being asked to do more. You're being asked to do it wrtn les Windows Server 2003 helps you manage 1/ these opposing forces and
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  • Page 6 Advertisements
    • 1416 6 SINGAPORE ACCOUNTANCY ACADEMY TRAINING ARM OF THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF SINGAPORE presents Financial Modeling Spreadsheet Skills A clear and concise step-by-step workshop on how to build a financial model. With heavy emphasis on hands-on modeling techniques, computers will be provided to each participant, and personalized attention will
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  • Page 7 Advertisements
    • 1252 7 Music Theatre Dance Singapore Chinese Orchestra Meredith Monk and Ann Hamilton (USA) Ballett Niirnberg Oper Instant is a Millennium Jf a Mercy Niirnberg (Germany) A Musical Conversation with Tan Swie Hian Asian Premiere The Fall of the House of Usher Festival Gala Performance JvL -j| Proclaimed as a "voice of
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  • SINGAPORE news
    • 560 8  -  Reduced 12-month payment comprises interest portion pins small principal sum By Siow Li Sen DBS Bank has offered a special 12-month low instalment package to some home loan borrowers who are believed to be reaching the end of their first year rate of
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    • 292 8  -  I INSURANCE FOCUS They also prefer a combination of salary pins commission: survey By i Genevieve Cua NEARLY 80 per cent of financial planners interviewed in a survey are committed to stay in the industry over the next five years. The survey, jointly
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    • 386 8 Bnt they urge public to check policies for exclusions GENERAL and life insurers will honour all claims for medical costs related to severe acute respiratory syndrome (Sars) some on a goodwill basis. But policy-holders cannot rely on goodwill because circumstances may change in the
      386 words
    • 149 8 THE Monetary Authority of Singapore yesterday released a consultation paper on proposed amendments to the Insurance Act. The amendments relate to the introduction of the framework for risk-based capital (RBC) and health insurance. The RBC framework seeks to build a capital requirement that reflects the
      149 words
    • 556 8  -  Vivienne Tan tells Vince Chong that success follows retailers who're enthusiastic about the trade Vince Chong i it SO YOU want to be a retailer? For a start, said Vivienne Tan, president of The Association of Shopping Centres (TASC), you must do it out
      FILE PHOTO  -  556 words
    • 225 8 THE first round of negotiations for the India-Singapore Comprehensive Economic Cooperation Agreement (CECA) will kick off today in New Delhi. The Singapore delegation at the two-day meeting will be led by Heng Swee Keat, Permanent Secretary at the Ministry
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  • Article, Illustration
    1084 8 Transaction date: May 26 MTERBAint CROSS RATES A$ C$ *mb Eire HK$ h*«» ftiptoh Yw Won III B$ Wh fin SS Mud Sfr MT$ Bafct PowX USS Australia 0.907 5.463 0557 5.134 30.875 53.672 0.770 7.894 2.502 1.127 37.941 34.754 1.133 5.185 0J49 22.841 27.493 0.401 0.658 Canada 1103
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  • Page 8 Advertisements
    • 180 8 CdaMKimWKB IN THE MATTER Of THE COMPANIES ACT. CAP. 50 AND IN THE MATTE* OF ULTIMATE WAY INTERNATIONAL PTE LTD (IN CREDITORS' VOLUNTARY LIQUIDATION) FINAL MEETING NOTICE IS HEREBY GIVEN, pursoont to S«dion 308 of the Companies Act, Cop 50.ihattheHNALMEETINGolthe members ond of ihe creditors of the obovenomed Company wiH
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  • FOCUS property
    • 599 9  -  Only 2 months into quarter and buyers have picked np almost 800 units Ry\ Kalpana Rashiwala A BT SURVEY of developers yesterday revealed that they have sold almost 800 private homes homes so far this quarter close to double the paltry Q1
      FILE PHOTO  -  599 words
  • Page 9 Advertisements
    • 1647 9 SHING INTERNATIONAL HOLDINGS LIMITED (Incorporated in Bermuda with limited liability) IN THE SUPREME COURT OF BERMUDA CIVIL JURISDICTION 2003: NO. 198 IN THE MATTER OF WAH SHINC INTERNATIONAL HOLDINGS LIMITED AND IN THE MATTER OF SECTION 99 OF THE COMPANIES ACT 1981 NOTICE OF COURT MEETING OF THE HOLDERS OF
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    • 357 9 3-STOREY BUILDING (FORMERLY LIWAGU CINEMA) BEDOK TOWN CENTRE Near Bedok MRT Station/Bus interchange, popular market/hawker centre,Bedok Sports Hall and Stadium Site Area: 1,500 sq.m. approx. VjPlj Floor Area: 2,900 sq.m. approx. il|| j 99-year leasehold from Ist June 1980 J* Currently leased to established S-League Change use possible For Sale
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    • 496 9 SPRINGLEAF TOWER Quality office space with raised MU ll\ flooring and VRV air-con 5£ Whole floor j JBBjB Subdivided Units Direct covered Ii access toTan jong jfc,' Mj Pagar MRT Station Competitive Rents For enquiries, call Joint Sole Marketing Agent I Debenham J H Tie Leung ~s'2i JOO CHIAT M
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  • EDITORIAL & opinion
    • 779 10  -  mivi bottom line OPINION yang razali kassim IF there is a pattern linking three major issues dominating Indonesian news of late, it points to one thing: President Megawati Sukarnoputri has begun to beat the drums of nationalism to get herself reelected next year. The three issues are
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    • 47 10 'Interest rates are the lowest in generations, the Fed has both feet on the gas pedal and the dollar is low. Hell would have to freeze over if this doesn't lead to a recovery.' Hm HiyAiii fund manager in Frankfurt, on the US economy
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    • 573 10 EDITORIAL WITH its enormous store of natural resources and proximity to the busy shipping lanes of the Straits of Malacca, Sumatra should be an engine of Indonesia's economy. However, it remains one of Indonesia's least developed islands. To help the island realise its economic potential, the
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    • 1661 10 Sars has brought the tourism and transport sectors to their knees but with clear thinking, resolve and a willingness to take tough decisions, jobs can be saved The following is an excerpt of a speech by NTUC secretary-general and Minister in the
      FILE PHOTO  -  1,661 words
    • 340 10  -  MAiLirm Chua Soon Hock Singapore WITH regard to Leong Sze Hian's letter "Why has stock market fallen for 10 years?" (Mailbag, May 20), here are some underlying domestic causes: Singapore actually had a huge property bubble that encompassed public housing which peaked in 19%.
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  • 1604 11 SICOM FUTURES May 26 RUBBER Futures (Ctosmq prices) RSS1 (S cents/kg) Close Vohmw Opm Monti! High Low Sett (tonnes) Interest Jun 03 180.25 Jul 03 173.00 Aug 03 170.25 Sep 03 167.75 RSS 3 (US ccnb/kq) Volume Opm Month High Low Sett (tonnes) Interest Jon 03 1 1 *****
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  • Page 11 Advertisements
    • 127 11 For aver 20 jnan, wr 4H<fla| assisting dullnl pomdmg to—ttmqf sarvkv 1 an llffilWH UlKt—C IrMfh Virgin Islands Cayman Islands V3||T|y!l?l|l7M Bahamas Mauritius Hongkong Samoa Full nominee, management, corporate secretarial, banking and professional administration services are available. We also specialize in offshore trusts, offshore banks, and captive insurance companies for
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  • REGIONAL news
    • 437 11  -  Merger talks between EON Bank anil Am Rank still going on, it says From A Eddie Toh in Kuala Lumpur NATIONAL car distributor Edaran Otomobil Nasional (EON) may freeze its earlier plan to distribute shares of its banking arm to its shareholders
      FILE PHOTO  -  437 words
    • 400 11  -  They cite better than expected export, industrial output figures; estimates in line with govt hints From Diana Oon Abdullah in Kuala Lumpur ECONOMIC analysts are expecting Malaysia's first quarter GDP growth to come in at around 4 per cent, based on stronger
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    • 251 11 HONG KONG tonLcom will get majority control of CETV: source Reuters AOL Time Warner is close to selling a controlling stake in its Mandarin-language TV station to Li Ka-shing's tom.com Ltd. less than two years after the US media giant won
      Reuters  -  251 words
    • 673 12 Shares of regional carriers soar, but Cathay warns of slowrebonnd Bloomberg Reuters AFP AP [TOKYO] JTB Corp. Honda Motor Co, JP Morgan Chase Co and other companies lifted bans or restrictions on business trips in parts of Asia, instituted because of the
      Bloomberg; Reuters; AFP; AP  -  673 words
    • 207 12 BEIJING Reuters CHINA will invite international bankers to join a newly established regulatory body to advise on supervising the country's large but creaky banking industry, regulators said yesterday. "The China Banking Regulatory Commission (CBRC) is forming a council of international advisers comprising senior bank
      Reuters  -  207 words
    • 375 12 Beijing may allow trading of overseas shares: SCMP HONGKONG Reuters CHINA is expected to announce soon the launch of a scheme to allow mainland investors to trade shares listed overseas, with economically battered Hong Kong seen as a beneficiary, the South
      Reuters  -  375 words
    • NOTE Book
      • 134 12 Reuters [GENEVA) The World Health Organisation (WHO) said yesterday it would put Canada's business capital Toronto back on the list of areas where Severe Acute Respiratory Syndrome (Sars) is spreading, just 12 days after it was taken off The city has told
        Reuters  -  134 words
      • 101 12 AFP [SINGAPORE] Computer server sales in the Asia-Pacific increased 7 per cent to US$l.l2 billion in the first quarter from a year ago but the Sars outbreak could hit demand in the June quarter, an industry monitor said yesterday. Technology research house
        AFP  -  101 words
      • 86 12 Bloomberg [TAIPEI] Taiwan Semiconductor Manufacturing Co (TSMC), the world's biggest supplier of made-to-order semiconductors, said it expects 2003 sales to rise by a fifth from a year earlier, aided by production technology few rivals offer. TSMC estimates sales this year will increase at
        Bloomberg  -  86 words
      • 88 12 AP [KUALA LUMPUR] Smoke from fires in neighbouring Indonesia has blanketed parts of Malaysia with hazy air pollution, cutting visibility near its largest airport yesterday by almost half, officials said. Smoke drifting from fires in Sumatra island combined with a spell of hot, dry
        AP  -  88 words
      • 75 12 Bloomberg IPHUKLT] Hotels in Phuket, a southern Thailand beach resort, have sacked about 14,000 staff, more than a tenth of their employees, as the spread of Sars keeps foreign tourists at home, a trade group said. Hotels in Phuket have dismissed staff over the past
        Bloomberg  -  75 words
      • 94 12 Reuters [JAKARTA] Indonesia's Bank Restructuring Agency (Ibra) said yesterday it hoped a restructuring deal covering Asia Pulp Paper's (APP) Indonesian debts of US$6.6 billion would be finalised by early July. APP one of Asia's largest corporate debtors with total obligations of US$l3.9
        Reuters  -  94 words

  • 4826 12 Transaction date: May 26 HONGKONG Vol HKRIntl 1.57 0 02 7036 CHINA 2040 on I Look smart *20 001 4015 Marubeni Corporation 117 2 3785 Bangkok Land .346 0 02 2077 Maskapai Reasuransi 170.00 unch 195 HKS 000 Hong Kong Electric 31.50 0.20 2416 Shares Shenzhen Last Vol
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  • Page 13 Advertisements
    • 3977 13 Notices IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OE HEGNAU HOLDINGS PTE LTD (In Members' Vulunt jr> I iquidjtion) M an tttuiirdirurv (irnefjl Mii-lm* id the mtnihws m HK.NAI H« HIDINGS PTI 110 duly convi-mil and hrld M IS Oijnftt- (.row Kiutl MIS OS
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  • WORLD news
    • 548 13 BERLIN Index rises from 16-month low, indicating economy may avoid recession Bloomberg Reuters BUSINESS confidence rose in Germany unexpectedly during this month from a 16-month low, a survey of 7,000 executives showed, reducing the risk that Europe's largest economy will slip into
      Bloomberg; Reuters  -  548 words
    • 208 13 Reuters Bloomberg [TOKYO] A powerful earthquake hit a broad swathe of northeastern Japan yesterday, tangling communications and rocking buildings as far away as Tokyo about 450 km to the south, but there were no reports of deaths or serious injuries. The quake halted
      Reuters; Bloomberg; REUTERS  -  208 words
    • WORLD Watch
      • 82 13 Reuters [BERLIN] Group of Eight leading industrial nations preparing for a summit in France next week see no current structural problems with exchange rate levels and no risk of deflation, a German government official said yesterday. Alfred Tacke, Germany's "sherpa" in the Economics Ministry charged
        Reuters  -  82 words
      • 76 13 Reuters [BAGHDAD] Iraq illegally stashed away billions of dollars in cash from oil deals with foreign firms in Lebanese and Jordanian banks and some of the money is still there, senior Iraqi and Arab bankers said. The government transferred most of the cash it received
        Reuters  -  76 words
      • 61 13 Reuters [SEOUL] Creditors of SK Global Co, the troubled trading unit of South Korea's SK Group, intend to start moves to liquidate SK Global if no acceptable bailout plan is forthcoming by today, a source at a creditor bank said yesterday. SK Global was rocked by
        Reuters  -  61 words
    • 340 13 DOHA AFP Reuters The Organisation of Petroleum Exporting Countries (Opec), which agreed last month to trim supplies from June 1 to remove excess pre-war output, could make deeper cuts when it meets again on June 11 to avoid a price collapse.
      AFP; Reuters  -  340 words
    • 458 14  -  Tokyo sees need to compensate for big outflow of investments Prom Anthony Rowley in Tokyo IN what is seen as direct competition for the rest of Asia, Japan is earnestly seeking inward foreign direct investment (FDI). The first shot will be fired today
      458 words
    • 211 14 NEW YORK AP THE owners of the Roosevelt Hotel, who have controlled the property for more than 20 years, have put the historic hotel up for auction. Pakistan International Airlines and Saudi Arabian Prince Faisal bin Khalid are auctioning the 20-storey, 1,013-room hotel hoping
      AP  -  211 words
    • 493 14  -  Other banks also in the red on bad loan provisions, poor stock market Prom l Anthony Rowley in Tokyo MIZUHO Financial Group the world's largest bank in asset terms yesterday reported the biggest loss in Japanese corporate history, as bad-loan provisions
      AP  -  493 words
    • 240 14 LONDON Reuters BRITISH parliamentarians plan a public inquiry into executive pay, amid rising public anger over high awards to bosses who have presided over failing companies and sliding share prices, the Independent reported yesterday. Europe's top drugmaker GlaxoSmithKline Pic was left licking
      Reuters  -  240 words
    • 399 14 SYDNEY Bloomberg INVESTA Property Group, a trust that owns office buildings in Australia's five biggest state capitals, made a hostile A 51.52 billion (551.72 billion) cash and stock bid for rival Principal Office Fund, to expand in Sydney and Melbourne. The
      Bloomberg  -  399 words
    • 595 15 LONDON Christopher Gent seen as having built a strong network with robust finances Bloomberg CHRISTOPHER Gent, Vodafone Group Pic chief executive officer, who retires in July after creating the world's biggest wireless company through US$3OO billion of takeovers in six years, spent his
      Bloomberg  -  595 words

  • 2595 14 Transaction date: May 26 KUALA LUMPUR FTlS?-*£ s l Vo j General Soil 1J6 unch 0 ID w r000) Genting 13 70 0 70 1988 George Kent A2* 001 10 ASM Realty 0.74 001 10 G4obetr<x»cs T«d»4 76 0 04 189 Abric 0 72 0 04 101 GlomacBhd 155
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  • 892 14 Transaction date: May 26 Mm* Mm* W dm Of Hadi 1 O— ttMji AJlgreen 50c 0.41 0.86S *4.030 NarStcc* SOc 0S7 2 440 *00JO CftC 064 5150 *0 ISO OCBC 913 9 600 *0 200 CaprtaLand 1.11 1.110 *0040 OUE 0 59 6600 *0 750 Chart ScnaCond 26c 090
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  • 569 14 BONDS WARRANTS Last Vol Caav E» Disc Gaar-^MtS dfy Ml wr PI B»M» Nb U> ASTIW*****1 4 1 16 43 3 50 13 Acma Ltd W*****6 2 unch 534 1 50 420 500 18 AmtekW*****0 S»S 2.5 77 1 33 1.57 25 Armstrong W*****0 2 unch 1210 1 10 33
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  • 6114 15 Transaction date: May 26 52-Wk Lot Vol on LAft Quote GrOhr Oh GrVId Net MCap MMi Law CamgmjL Salt w- gg M+ U» >g Wg Cw W M ABNAmcoNLG 56c 3.4 138 8 16.5, 9 ACE Dynamics20c 13 unch 35 13 13 13 14 100 153.8 128 21
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  • 60 15 S3* Urt Vol D*» UflOwtt GrOw Dw GfTH MM MCm 1— Ciw>H| Mt W- r«M> U» Cw PK $J *10 89 Diamonds US8780cd <020 2700 ISDJUSTcdi US3740cd 555 555 fSMSCI Spore USS5S ***** 8200 tSSAPSOO US8270cd ***** 8280 SPOfB U*****cd 1727 1210 ST1ETT100 1360 *2 10 1365 1358
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  • 1583 15 S24* L*t Vol Day Last Quote Grt*» On CrTM Net MCjb W# Lw ClB>li| M» W- dW Lmm 8»yr UMm Cm Pg sJ 175 7.5 ABRHIdgsSc 125 UKh 442 13 12.5 12.5 13 241 J« 15 APCMSc -1S5 -0.5 31 19 18 5 18.5 20 27 2* 73
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  • 318 15 52-Wk Last Vol Day Last Qvoti GrOw On GrTX MM MCjb Lo Cl«>m Mt W- rww WW t— w» Cur Ht hJI 134 II AV)enn#ngs A25c A126cd 1 147 129 126 125 126 40 3 4 7.9 7J 2712 Cathay Pac 20c HK720 265 2.1 7.4 6 *****2
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  • Page 15 Miscellaneous
    • 195 15 CRYPTIC CROSSWORD 27 Propeller guard (5) 28 (54) kerS depreSS€d eaS,ly ing skilful (9) YESTERDAY'S SOLUTION 9 Vessel missed entrance to Across: 1 Just about, 6 Crass, channel (4) 9 Lullaby, 10 Great Dane, 11 DOWN 14 Flirtation leads to many a Nucleon, 12 Acquire, 13 Ear--1 Mineral salt for
      195 words

  • KNOWLEDGE economy
    • 1731 16  -  The key is not knowledge-sharing but whether knowledge is acted upon, says Patrick Lambe in this last instalment of Knowledge Economy Patrick Lambe WHEN Julius Caesar walked into the Forum in Rome on that fateful March day in 44 BC, he was hard-pressed by petitioners. Caesar
      ADAM LEE ST  -  1,731 words
  • Page 16 Advertisements
    • 671 16 Where to wine, dine and entertain... Indulge in the best of two culinary worlds as we bring you the best of international cuisine. Highlights include Pepper Crabs and Rod Prata from Singapore. Sashimi and Califbmian Hand Rolls from japan. Fresh Oysters, Soft-shelled Crabs and Braised Oxtail from Europe and lots
      671 words
    • 63 16 ~1 THE NEPTUNE f COIITIK Q.UAV 25% SAVINGS ON LUNCH DINNER* Now till 30 June 2003 Step out and feast on Dian Xin and Cantonese delicacies at an incredible value today! *Offer is valid on Monday to Saturday only Reservations: 6224 3203 (gfe) canrOmi Managed by Mentus Mandarin Singapore 7th
      63 words

  • SHIPPING TIMES
    • 268 17 Reuters THE Baltic Dry Index fell 31 points to 2272, the Baltic Capesize Index fell 47 points to 3078, the Baltic Panamax Index fell 42 points to 2176 and the Baltic Handymax Index fell 25 points to *****. TXME-CHABTER: Hadera (built 1983) *****3 dwt delivery Cape Passe ro
      Reuters  -  268 words
    • 278 17 MX '000 my 2* a »»i CWT Distribution 0 56 unch 0 ChwanHup 0.39 unch 1080 CM Offshore 0.20 unch 170 Cosco investment ~..026 unch 2794 Frpight Links 0.04 -0.01 321 GB Holdings ...0.60 unch 62 Jaya Holdings 0.34 unch 870 Keppel Corp 4.54 unch 4970 K1 Venture
      278 words
    • 676 17  -  Orderbooks for this year remain healthy with spillover into 2004 By Beth Jinks [SINGAPORE] Singapore's buoyant marine industry achieved a record turnover of almost $4.4 billion in 2002, boosted by stellar growth in the offshore sector. But despite its bright outlook, vastly improved safety
      Source: ASM; FILE PHOTO  -  676 words
    • 1000 17 17 crew injured; no passengers hurt on board NCL's Norway NYT [MIAMI] Four crew members were killed and at least 17 others were injured on Sunday morning in an explosion and fire in a boiler room of Norwegian Cruise Lines' (NCL) SS
      NYT; REUTERS; REUTERS PHOTOS  -  1,000 words
    • 317 17 Many missing; crew incompetence may be behind accident AFP [MANILA] Rescuers braved rough seas off the Philippines capital of Manila yesterday to search for people missing from a ferry collision that claimed 28 lives. Officials speculated that crew incompetence caused the accident. "This
      AFP  -  317 words
    • 112 18 PAGE BSA 4 B'tang Mas 6 CMACGM 3 COSCO 3 Columbus 5 China Shpg 5 CWT Globelink ...4 Delmas 4 Dongnama 3 ECL 3 Far Shpg 5 Foong Sun 5 Fujitrans 2 Gemartrans 4 Hangli 4 Hyundai 4 Heung-A 3 IRISL 5 Kapal Kris 4 Kien Hung
      112 words
    • 8836 22 THEBUSINESSTIMES EXPORT ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Dest'n Name Nam* Number Number SIN Oastn Name Name Number Number 06/06 17/06 COSCO TAI HE 224W 65******00 To ABIDJAN (ABJ) 2003 Cot* D'I voir* »/06 5® SSEjfEL i! T AS|£f MERS 03/06
      8,836 words
    • SHIPS IN PORT
      • 473 23 Vessel Voy Wo Berth Arrival Departure JURONG PORT/MULTI-PURPOSE TERMINAL BRAVE PESCAD 32 J5 A/SIDE 27/05 1200 WINSTAR 8 56S03 J2 A/SIDE 27/05 0630 BAYSWATER118 E3118 J3 27/05 1730 27/05 2359 BT AM AN AH 4MAY03 J1 27/05 1100 27/05 2000 BTR8 2113 0203 J1 27/05 0800 27/05 1100
        473 words
      • 2044 23 CONTAINERS TERMINAL AND VESSEL SCHEDULES Vessel Out In Bth Berthing Un- Berth Name Voy Voy seq berthing Nmbr ACX DANUA 062S 062S _J_ 27/*****3 1800 T02 ACX HIBISCUS 079N 079N 1 **********00 27/05/2003 2100 T03 ALAMIAYA 2 8846A 8846A 1 290S*****500 290S0003 23S9 ALAMJAVA 2 8846N 8846N 1
        2,044 words
      • 132 23 May 29 Indonesia: Ascention Day France: Ascent ion Day Germany: Ascention Day May 31 Brunei: Armed Forces Day Jan 1 China: Children's Day. Jan 2 Italy: Anni of the Rep. NZ: Queen's Birthday. Jan 4 Hongkong: Tuen Ng Festival. Taiwan: Dragon Boat Festival. Jan S Korea: Memorial. Jan
        132 words
      • 804 23 THIS report, compiled by Cockett Ma rine Oil Ltd. shows price ranges in US dollars instead of single prices for a more comprehensive description of the market. Prices shown are based on average sized stem Market movements are indicated The Cockett Bunker Price Index change and
        804 words
      • 489 23 Carton 180 Mm 1005.1 0.7 15.6 0.08 144 0.03 May 22 OtMitv M«ttf IhMn AskAtuMMWn Sediment No above E25 5 0 4 0 1 0 380 Ave 982.6 0J 13.6 0 04 18 0.02 bM 380 Mai 995.0 L5 18.0 0.07 74 0.04 M/iri */V n/M
        489 words
    • AIR & LAND transport
      • 429 24 Bnt carrier would have to start trans-Tasman route to get more flights to Dubai AFP [SYDNEY] The Australian government is considering a deal with Emirates Airlines which it hopes will alleviate competition concerns over an alliance between Qantas and Air New Zealand,
        AFP  -  429 words
      • 341 24 Reuters [ZURICH] Swiss International Air Lines plans to slash 3,000 jobs and drastically cut its fleet size in a desperate bid to survive the vicious downturn in the airline industry, Swiss Sunday paper SonntagsZeitung reported. Citing company sources, the paper said
        Reuters  -  341 words
      • 139 24 Reuters [ANKARA] A Ukrainian Yak-42 plane carrying 62 Spanish peacekeeping troops and 12 crew crashed as it tried to land near Turkey's Black Sea city of Trabzon early yesterday. None of the passengers survived, Turkish television said. The state-run Anatolian news agency said the plane
        Reuters; AP  -  139 words
      • 259 24 Reuters [HONG KONG] China Southern Airlines, the country's largest carrier, said that it has taken delivery of two aircraft and said it would continue to upgrade its fleet despite the outbreak of Sars. The carrier said in a statement that its first Airbus
        Reuters  -  259 words
      • 233 24 AFP [LONDON] British Airways is weighing a bid for Virgin Atlantic Airways, in an attempt to foil a proposed merger between Virgin and BMI British Midland, the Financial Times reported yesterday. Top managers from British Airways were to meet in emergency session yesterday,
        AFP  -  233 words
      • 323 24 Boeing review backs carrier's engineering procedures Reuters [AUCKLAND] Air New Zealand Ltd said yesterday a review of its engineering services by Boeing Co had put a string of technical failures experienced by Air NZ aircraft over 2001 and 2002 down to unconnected
        Reuters  -  323 words
      • 156 24 Bloomberg [KUALA LUMPUR] Malaysian Airline System Bhd (MAS), which posted its first annual profit in six years, will add 76 domestic flights in May and June during the school holidays, to partly offset a drop in overseas travel. The carrier will add a total of
        Bloomberg  -  156 words
      • 1469 24 CITT FLIGHT IT* FLIGHT ETC JWU 2350 $0336 2350 M*M> $0229 2235 FakwU $0990 0105 Mirka (U37 M55 1*974 0130 «U» 2255 tw|i>n C23S1 2305 CZ352 0810 MM 2345 S0804 1015 MdMM IJ6M 2020 IM HT741 1325 S0I76 1035 W28 2020 **740 1430 S06M1 2020 N*****
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  • Page 17 Advertisements
    • 15 17 mulling deal to allow ates more fights BACKPAGE BA considering bid for Virgin Atlantic BACKPAGE
      15 words
    • 100 17 Monr M*ioni j I 42 Circular ftoid Singapore *****S I i JT: 65-6536 2029 www.moUy-malone.com H H H I Get Shanghai'd at Molly's! I Kf Shipping Industry Night every Tuesday I Free rum shots from a bevy of 6ne-looking Rum Runners H "Hoist the Jolly Roger" from spm to Bpm
      100 words

  • Page 18 Advertisements
    • 653 18 I IMPORT I NORTH AMERICA 11 1| AUSTRALIA/NEW ZEALAND SUPER SHUTTLE EXPRESS (SSX) I AUSTRALIA AMA EXPREBS (AAX) Vtssn VOT u?» 5j "1 m ypsa I vot low I stp I«alak 1 m I m T"ptT" OOQMKKKA 60W19 14/0$ 01/0* 03/0* API IVOtT SON 11/0$ 14/05 17/05 l»/05 22/05 17/0$
      653 words
    • 495 18 lines serv»ces represented by ni \°n.y Singapore Shipping Associohori g ULY UNE MALE f rcssa voy n* ran* A f. KUN6 SfOil jjjf Princess lily 0503 04/06 06/06 15/06 Mold Carrier 739 A 13/06 15/06 24/06 Princess Uly 0603 23/06 25/06 03/07 Mold Star 540 A 03/07 05/07 14/07 ULY
      495 words

  • Page 19 Advertisements
    • 1143 19 I TO USA (SAX SERVICE) YtSSIL VOT SMI ETA LAX OAK DAI HOU 0» COt MEM Ml NTC apioelghjm list ?»/os 12/06 u/o* 17/06 17/06 w/06 17/06 17/06 20/06 ?q/06 AH SWEDEN 0071 04/06 19/06 23/06 24/04 24/06 24/06 24/06 14/04 77/0* 77/0* Aft HOLLAND im 11/06 26/06 30/06 01/07
      1,143 words
    • 1729 19 "9P9IAM OVR SERVKI FftOM SMOtfOtK 10 BUCK SU VU POM SJUK ODESSA (VKIABK) 19 DATS GOMAI wan M SMUPOtE: M lOMNSON Ml 1141 SAIiS/MGS TH: 44MSIS7/43ML *****371/141 11 2 555 SSSSESL"""* m in ssnsss- KSiW sss I mmmmm •om XMorsomo: loSSSmi t««^ /44 I EVBtY TUESDAY SAIUNGS COSW WfIKK W)
      1,729 words
    • 487 19 JEtfL 88-SPjlltt SUA M_ VBSa wTT SK JKT GAWAIHUM WO7I WT 475 S/5 107S IZ/5 14/5 WTHUHUM 01S 31/5 3/6 AMANtHUM Bj6 6/6 11/6 12/6 177T H/6 NITHIIHUM 02S I 7/6 10/6 11/6 |HUMSA»HUM 1 ***** 13/6 1 11/6 IV6 24/6 26/6 |"a/r| WTTHIIHUM 03$ I 14/6 I 17/6 11/6
      487 words

  • Page 20 Advertisements
    • 1156 20 HYUNDAI MERCHANT MARINE CO., LTD. Hi.ipur wwwj—?l,w HO. IWt7H«OOOM |vtssa wr jwT sou rai w mm m [[vessel voT|soultßi|RTM|AitT|NAM[tßv|m HY FREEDOM 313W 11/05 10/ M M/M 86/04 N/M HOintKBJOH OMf 01/05 03/0S N/M 21/44 70/0S Aft CORAI IIIW 21/0S N/M 10/0* I J/0* API HONGKONG 104* N/M N/M 02/05 71/05
      1,156 words
    • 486 20 V*(\ WAN HAI LINES Y TEL: *****588 FAX: *****163 INTRODUCING:- NEW WEEKLY EXPRESS SERVICE TO: HODEIDAH PORT SUDAN CALLING SIN EVERY THURSDAY TWICE WEEKLY EXPRESS SERVICE TO: JEDDAH CALLING SIN EVERY TUESDAY THURSDAY* For more details, call HOTLINE: *****588/1000-*****00 HliHI rasa vot sm ra 101 MM* mr ASIA EXPRESS 112
      486 words
    • 687 20 BSA MYANMA ■H FIVE STAR UNE (Mywaar NnHmml Uot) LmAmj far Tfo vissa vot sw m pa ku PAGAN 306W SU HPA-AN 307W SU> IN MAUTSIA: MOUSTUD SHIPPING AGENCKS KUL 03-*****300 PtL* 03-*****101 PIN: 04-2*1240} BANK LINE (A service of Andrew Wtir Shipping) I NOKTHBOUNP TO IUKOPt V CONUBKR, ROM,
      687 words

  • Page 21 Advertisements
    • 1254 21 iVISStI VOY KHH HKO I SIN I PKL I PX» »A« DMM IHC MAN TEHRAN PCI -313 27/05 28/03 31/03 01/0* 01/06 09/06 16/06 lt/06 UNDAVIA PCI -314 03/06 04/06 07/06 OS/06 15/06 16/06 22/06 24/06 IRAN KERMAN PCI 315 10/06 11/06 14/06 15/06 22/06 23/06 29/06 01/07 IRAN ISFAHAN
      1,254 words
    • 502 21 UK CONTINENT SERVICE Loadvig tor SMART RDM/ATW/BMN/UK/NAN GULSER ANA ROM/ATW/BMN/UK/NAN Loads Sngapore, E7W Malaysia. Indoneaa MIDDLE-EAST SERVICE Loading for BRAVE JOHN JDH/AQA PACIFIC SUN II JDH/AQA MARILIS T DBI/ABU/DOH/BRN/DMM/KWT Toads Singapore. E7W Inckxies«a USA SERVICE Loading tor ALFONSO MZL/LAX/VCW SEA BEE CAM/NFK/SAV/NOL 'Loads E7W Malaysia. Indonesia F.E./S.E.A. SERVICES S pore
      502 words
    • 957 21 ywfl m ZHL JfßSa Jffll M a: ?i£s "/OS r/XHUWH HO 2*/ OS 71/85 B?Ss| 25/05 t -2i/nMMUMLI JMZ 2JZfls_zSiSz: OM4| IZZOS 1 MCOWUM I2U 02/0* OS/ft* eiZl a/M 21/ OS AUMMTA2 U4I 05/04 07/0* fijaa nm 30/05 PACU*IDA OOSW 11/05 31/05 WW 01/0* 02/04 VtSSEI VOY SM na -Ml*®*
      957 words


  • Page 23 Miscellaneous
    • 116 23 g REGIONAL WEATHER Issued by Meteorological Service Division,NEA LEGEND: i <1 Thunderstorm Wind speed symbols showers Full circle w/o line indicates calm or light and variable winds R a j n One half fleche represents 5 knots Cloudy Day -One full fleche represents 10 knots cxi Hazy A -One solid
      116 words