The Business Times, 1 July 2003

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Total Pages: 24
1 24 The Business Times
  • 15 1 MITA (P) 024/03/2003 85* THE BUSINESS TIMES SINGAPORE Ir-teme h'tp.//business-times.asial .com.sg TUESDAY, JULY 1, 2003
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  • 1069 1  -  1(L5% wage redaction for captains, 11% for first officers; up to 2 days no-pay leave a month By Donald Urquhart [SINGAPORE] Singapore Airlines has finally struck a compromise with its 1,600 unionised pilots on wage cuts, no-pay leave and
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  • 667 1  -  Upturn expected for S'pore semicon market with 4-5% growth this year By Raju Chellam [SINGAPORE] Sales of semiconductors are inching up worldwide, holding out hope of recovery in end-us-er demand in the electronics and infocomm sectors later this year. Even Singapore's market for
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  • 794 1  -  J&p&njoinsUSin calling for increased flexibility 7 From Anthony Rowley in Tokyo PRESSURE on China to adopt a more flexible exchange rate for the yuan is being ratcheted up by the United States and Japan. Within days of US Treasury Secretary John
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  • 542 1  -  Rate cuts unlikely to cause stir in industry: analysts By\ Daniel Buenas [SINGAPORE] JTC yesterday announced across-the-board rate cuts of up te 14 per cent for its industrial rentals and prices for many of its industrial properties from today to
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  • 72 1 Dsn 1,447.89 (-29.84) ST INDEX FUTURES 1,443.00 (-25.00) SIMSCI FUTURES 179.50 (-2.50) Monday Change KLSECOMP 691.96 -0.51 NIKKEI 225 .9.083.11 -20.95 HANG SENG 9.577 12 8009 SET INDEX 461.82 -411 JAKARTA COMP ,***** 1.28 MANILA COMP .1.222J#) 1180 TAIPEI WPI 4.872.15 -5.75 SEOl.X COMP ***** -7,15 SHENZHEN B 215.74
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  • 76 1 FOREX RATES US$ S$ l"SS (SS per I'SS) 1.761 £(ISS/SS per 1.652 1909 El"RO(lS$/SS/E). 1.146 1017 YEN 119.8 68.10 RM 3.800 1158 HKS 7.798 4430 BAHT 4110 23.91 Rl'PIAH 8179 4.703 RENMINBI 8199 4.714 INDIAN RUPEE 46.48 2640 AS 1.497 0.850 NZS 1.714 0.974 PRIME RATES SINGAPORE* 515 KUALA
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  • Page 1 Advertisements
    • 64 1 NTUC Choice Homes faces size woes Pgll Adttne Sum jßjj Hill 8 887 81"*****4 1131 *sSflKjriiKL. Bfl lllij M UMI jljßl HH I BBhIikiIBLH^MJHLH UKJfI fl. HUB Role* GMT-Master II and Rolex Lady-Oatejust. Officially Certified Swiss Chronometers TAKASHIMAYA S C. TEL 6734 2420 RAFFLES HOTEL ARCADE TEL 6334 3241 LUCICY
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  • NEXT page
    • 629 2  -  Cost of shedding 2,63ojobstobe recouped over 5-10 years: chief By Andrea Tan [SINGAPORE] The Housing and Development Board (HDB) will shed 2,630 jobs in a $220 million exercise or double the estimated $100 million in end-February. HDB chief executive Niam Chiang Meng himself had expected
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    • 694 2  -  Profit down 6% for 130 firms despite 26% turnover rise By Teh Hooi Ling [SINGAPORE] The 130 listed Singapore companies which reported first quarter earnings recently showed that they continued to face margin squeeze. Aggregate net earnings slid 6 per cent
      694 words
    • 450 2  -  But rivals, users hail IDA's leased circuit proposals By Angela Tan [SINGAPORE] In a strongly worded 33-page submission to the Infocomm Development Authority (IDA), Singapore Telecommunications Ltd yesterday voiced its opposition to further intervention by the telecom regulator in its local leased circuit (LLC) market.
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  • Page 2 Advertisements
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    • 9 2 Blue chips or SMEs for best returns? Pg 5
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  • Page 3 Advertisements
    • 113 3 Deutsche Post World Net MAIL EXPRESS LOGISTICS FINANCE s*? v.X > V V;V 1 ,>v '^>. V ;> i s' v'xS[ifl^H^H SfijJl *fifa wSM jrtyyV\\y ivlVvßk vl wnfc> ivVvv 1 -«VVm hksh \t\ v, There's no bigger logistics company in Asia. DHL Worldwide Express, global leader in air express, Danzas,
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  • SINGAPORE companies
    • 447 4  -  BTBHESB Observers see his appointment as stabilising By Loh Hui Yin FORMER Nat Steel veteran Oo Soon Hee is making a comeback at the steel miller as deputy to president Ang Kong Hua, an appointment which could pave the way for the latter's retirement
      447 words
    • 236 4  -  By Andrea Tan BELEAGUERED construction group Econ International lost a staggering $138.9 million for the year ended March this year, leaving the group with a negative equity of $21.8 million. The net loss was $15.8 million or 12.8 per cent higher than the $123.1
      236 words
    • 491 4  -  Change of direction into oil extraction By Kenneth Lim A NEW management with links to the Indonesian Soeryadjaya family takes over the reins of main-board-listed Van der Horst from judicial managers today in a reverse takeover deal that will take the former
      LAM  -  491 words
    • 615 4  -  HOCK IW angela tan RECENTLY, Deutsche Telekom offered fellow major shareholders Singapore Telecommunications and Ayala Corp its 24.8 per cent stake in Globe Telecom, a fast-growing Philippine mobile operator. Sing Tel and Ayala are reportedly keen on the additional stake. While credit agencies
      615 words
    • 526 4  -  Multi-million dollar deal with KL firm to be signed today By Ven Sreenivasan SINGAPORE Technologies Engineering's aircraft repair and maintenance unit, ST Aerospace, has clinched a multi-million dollar deal to service the fleet of Malaysia's Air Asia. Air Asia's chief executive
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    • 217 4 NUMB) CLOSING GROSS IMTlfCTr WflRMSED 00UP0A AMOllfT WWST OFWTS® FWCES* RBHPTO OATf RAH m PAYier ACCRUED (SCCUJOINS VfiLD WOOCI (tM| DATES eTBBi ACCflUfD WTFCST) PA| 01.*****3 N5081O1X 1998 51/8 ***** 1/9 1fl 121 100.78 0JB7 **********00 01.*****4 N5S9100H 1998 31/2
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    • 1133 5  -  Analysts remain split on where to invest fonds By Daniel Buenas EVEN as the Singapore bourse comes alive after a protracted period of gloom, analysts and market watchers remain divided on where investors should look to for the best returns in the coming
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    • 377 5 SINGAPORE Press Holdings (SPH) yesterday retrenched 111 employees to keep staffing levels in line with current business volumes. The group-wide job cuts represent about 3 per cent of SPH's 3,700 staff, and will save the media group $5.7 million a year, said
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    • COMPANY Briefs
      • 90 5 VETERAN banker Ng Kee Choe stepped down as a director of DBS Holdings (DBSH) yesterday, in keeping with his retirement from DBS after 33 years of service. On April 21, DBSH announced that Mr Ng would retire but continue as senior adviser to
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      • 61 5 SESDAQ-listed Sincere Watch yesterday reported a 19.5 per cent decline in net profit to $13.2 million for the year ended March 31. It blamed the fall on mainly foreign exchange losses of $4.1 million. Revenues rose 14 per cent to a record of $222 million
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      • 93 5 POPULAR Holdings, a regional integrated media powerhouse, reported a 7.1 per cent higher profit of $13.6 million for the year ended April 30. This came on the back of a 4.5 per cent increase in turnover to $328.4 million. Directors have recommended a final
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      • 87 5 BRINGING back memories of when Kim Eng Holdings' initial public offering was subscribed 784 times, Malaysian water treatment firm Eco Water closed its IPO yesterday with its public tranche of three million new shares subscribed 561 times. Based on the total offering of 30
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  • Page 4 Advertisements
    • 1596 4 Call toll-free 1800 289 8822 BUKIT SEMBAWANG ESTATES LIMITED NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN thai the Thirty-seventh Annual General Meeting of the Company will be held at 65 Chulia Street. #50-00, OCBC Centre, Singapore *****3. on Friday. 25 July 2003 at 12 noon for the following
      1,596 words
    • 302 4 Cdl Mft-fctt 1800 289 8822 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER Of CLUB ASIANA PTE LTD (IN CREDITORS' VOLUNTARY LIQUIDATION) NOTICE OF CREDITORS' MEETING PURSUANT TO SECTION 296(31 OF THE COMPANIES ACT. CAP. 50 Nolicc is hereby given thai a Meeting of Creditors
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  • Page 5 Advertisements
    • 72 5 the the The Bolshoi ballet and the Faberge eggs? Like the nestling matrushka dolls, Russia is one fascinating place "7 mtv love to Starting Ist July, fly Emirates to Moscow. Keep discovering. Aij^yßMi«l >v <- g sC&atgjg^ £mr r -jat. —a ,mm&. ■t*# nHBHBBHHMI: »-«tffIHHI!HHBHIHiH^HHHHI^^HI^HIHiBHHIMIiHHiIiI^HIiHI^IHimiI For mofe details contact your
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    • 9 5 29% fewer Asian IPOs in HI 2003, Pg 13
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  • SINGAPORE markets
    • Article, Illustration
      332 6 OTHER SINGAPORE INDICES Jun 30 VALUE CLOSE BTOBftS 37.00 +83.00 BTCAM -*****.00 -113.00 BT 10-day MA -*****.00 +3L00 All-SG Equities 392.39 -7.23 SG Equities Beet 139.66 -0.23 SG Equities Fin 1226.49 -32.56 SG Equities Prop 367.27 MSa Singapore 178.87 -4.28 SiMSCi Futures 179.50 -2.50 Woda Voh— Chart SemiCond 26c 25,074,000
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    • 282 6  -  HOT STOCK/ WARRANT Byy Ven Sreenivasan THE stock of Australian property developer AV Jennings Homes Ltd hit a record A 51.59 yesterday after edging up another four cents. Despite the less than enthusiastic following by retail investors here, the stock has
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    • 782 6  -  STOCKS r. sivanithy WHEN the stock market was surging early last month, the standard interpretation was that investors were buying in order to participate in the recovery which, according to conventional wisdom, was a virtual certainty. Now that the market has stalled, one has to ask: what
      782 words
    • 601 6  -  CURRENCIES Local unit hits new 2003 lows against high-yielding Aussie, Kiwi, C$ larry wee THE Singapore dollar ended the first half 0f2003 at its worst levels in almost two months versus the US dollar, dragged down by the combination of a
      Source: Reuters  -  601 words
  • 3180 6 UNIT TRUSTS FUNDS Cofn Global Infotec Index Fdl** 0 30V com Global Energy Index Fd 0.872/ AMI Amro «M (S'pora] Spore Bond t107/ Star Europe 1 29V Cr dlt Agricott Asset Mgt S port ltd Mar Europe 0958/ Indocam Asia Vision!** 0 798/0 838 Star Asian Tiger Eqty 0.701/ OSSAaMtMgt
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  • SINGAPORE news
    • 421 7  -  YESTHRDAT DT FABUAMHMT Ng Eng Hen dismisses calls to allow it for start-ups, overseas education Reports by Anna Teo FOR a good too many people, the Central Provident Fund does not even quite provide enough for the basic needs of retirement, housing and
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    • 248 7 COMPANIES should review their business plans in the light of the US-Singapore Free Trade Agreement (USSFTA), according to Minister of State for Trade and Industry Raymond Lim. "The US is a large market and it will be a big boost to their business
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    • PARLIAMENT Briefs
      • 63 7 THE Sars episode cost Singapore some $300 million $192 million in direct operating expenses, and about $105 million in development costs. The latter includes the costs of setting up isolation facilities in hospitals and retrofitting existing medical facilities. Yet the financial impact of Sars will
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      • 58 7 THE North-East Line cost $4.6 billion to build. This comprises $2.7 billion for civil and architectural works, $1.4 billion for mechanical and electrical works and systems (including the trains), and $0.5 billion for land costs. The entire cost was funded by the government said Transport
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      • 59 7 THE permanent secretary of the Ministry of Manpower, Yong Ying-I, chairs the tripartite task force that will drive wage restructuring. The task force will provide companies with information on wage-cost analyses and wage models, and recommend measures and options for restructuring wages. It is
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    • 246 7  -  By Wong Wei Kong IN another sign of recovering consumer confidence, bank lending grew strongly in May, with credit card billings also recovering sharply from April. According to the Monetary Authority of Singapore (MAS), lending to non-bank customers rose by $2.3 billion to $164.7
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    • 478 7  -  Principle-based rules emphasise four key pillars By Wong Wei Kong HAVING sound risk management systems is as important to financial institutions as market access, scale, and technology, said the deputy managing director of the Monetary Authority of Singapore (MAS), John Palmer, yesterday as the central
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  • Page 7 Advertisements
    • 143 7 'Suicidal bids' benefit no-one. Mah, Pg 11 T [IDER IN STORAGE SOFTWARE HAS ACQUIRED THE LEADER IN APPLICATION PERFORMANCE. VERITAS offices in Asia South Malaysia: +603-7725 9297 Singapore +65-6 333 6366 Philippines +632-630 8677 Thailand +662-627 9085 India Mumbai: +91-22-2830 3025/28 Bangalore +91-80-226 7272 Delhi: +91-11- 2620 73 63 VERITAS
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  • Page 8 Advertisements
    • 115 8 Performance Sheer '7 "y i________ v 1 I ii ">>n .1,. H ,r. w v 'V*Se*BClc^ > ftjmS SSfibtot IM/ V fc&E .-J I n >■&**£* a w A 1 -~jsfef ni --Vpr I BM J 1 BMW again introduces the superlative to luxury: the BMW 760 Li with the
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  • Page 9 Advertisements
    • 40 9 p~ 1 features sjtu; '.<^j 4• f > r **pj^* dra Road. Tel 6319 0100 Sime Darby Centre, 896 Duneam Road. Tel 6319 0500 East Coast Centre, am. Sat 9am-6pm. Sun Public Holidays 10am-spm A member of the QSime Singapore Group.
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  • EDITORIAL & opinion
    • 663 10  -  JQIMBHI OPINION leon hadar THE conferences of the World Economic Forum (WEF) usually take place in the centre of Europe, in the hilly ski resort-setting of Davos, Switzerland In contrast, last week's meeting of the WEF at the Dead Sea in Jordan was on
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    • 81 10 'Honestly, I haven't even watched it' -Kerry Gonzalez 24, commenting in court on the copy he made of Vivendi Universal SA's Hulk, which he sent to a Dutch website that posts pirated movies. There have always been aggressive, heavy-handed managers. What's different now is that pressure and
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    • 568 10 EDITORIAL THE trade liberalisation deal under the so-called Closer Economic Partnership Agreement (Cepa) between China and Hong Kong, which was signed in the territory over the weekend, could provide a muchneeded boost to Hong Kong's flagging economy. However, many of the benefits for Hong
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    • 884 10  -  Breakthrough accord snapping the subsidy-prodnction link will be a boon to farmers at home and in developing countries, say EU governments From Shada Islam in Brussels EUROPEAN Union (EU) farm chief Franz Fischler has a new spring in his step. Having fought
      AFP  -  884 words
    • 190 10  -  K Bhavani Director, Corporate Communications for Permanent Secretary. MITA I REFER to the article, "Cellphone market gets needed boost" (BT, June 24), by Mr Tang Weng Fai. Mr Tang's interpretation of the May 23, 2002 statement in Parliament on mobile number portability (MNP) by
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    • 377 10  -  maili srm Ang Hao Yao Singapore IN the past year, major shareholders of several companies have attempted to buy out minority shareholders through schemes of arrangements. However, in most of these privatisation cases, the schemes are often performed at a discount to the net tangible assets
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  • Page 10 Advertisements
    • 99 10 Fax your letters to 6319-*****r email them to btfetterQsph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel laws. We reserve the
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  • FOCUS property
    • 345 11 DEVELOPERS saw a further drop in home sales last weekend to about 80-plus units, from 109 homes the previous weekend, and 200 a week earlier. The figures are provided by developers who have responded to BT's weekly surveys for the past three weekends.
      ARTHUR LEE  -  345 words
    • 572 11  -  It's constantly on the lookout for more sites to raise market share Bu Kalpana Rashiwala NTUC Choice Homes Co-op-erative, which was set up eight years ago with a social mission of ensuring affordable private homes and EC prices, has found it "difficult trying to
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    • 419 11  -  YESTERDATIX PARLIAMENT 4 Andrea Tan NATIONAL Development Minister Mah Bow Tan said it was not in anyone's interest to award a tender to contractors who put in "suicidal" bids. Responding to questions raised by MPs in Parliament yesterday, Mr Mah said up to one
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  • Page 11 Advertisements
    • 152 11 u p to 5 Months* Rent Free" Grade A Building in Raffles Place jSjrtgSM Flexible Sizes from 1,000 28,000 sf > Long Sub-lease Term Fitted Out or Bare Units Highly Subsidised Rent Inclusive of max 2 months tor renovation Sole Marketing Agent Commercial 6531 8669 PHMHW 6531 8672 HH t
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    • 190 11 SERANGOON PROPERTIES FOR SALE r A: Strata Units in Upper v^-^ Serangoon ShoppingCtr 66 shop units: 4,315 sqm 1 office 77 sq m 8 apartments 1,066 sq m Total 5,458 sq m B: Shophouses at 760/762 Upper Serangoon Road —V Land Area: 284.2 sq m Floor Area: 868.0 sq m
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    • 373 11 r (DSir For Sale By Tender Site Area 5,400 sq ft •Freehold wT" Zoned Residential with tjiniaj Commercial on Ist floor ■qSS Plot Ratio 2.8 •Temporary WP for full ]"nf «JU leP^ commercial use obtained J2 If Various possible viable S I usage including hostel, Jm* F B outlet foodcourt,
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  • Article, Illustration
    1072 12 Transaction date:Jun 30 atTERBAMM CROSS RATES AS C$ »wb Euro HKS Indts Buplafc Von Wow W M«» N SS 8and Sfr NTS Bant Pond IKS Australia 0.901 5.544 0.583 5.210 31.051 55.308 0.801 7.970 2.539 1.145 38.600 35.716 1.176 4.954 0.905 23.121 28.122 0.404 0.668 Canada 1.110 6.155 0.647
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  • REGIONAL news
    • 444 12  -  M'sia set to match last year's RMl7.9b of manufacturing projects approved From, Diana Oon Abdullah in Kuala Lumpur MALAYSIA approved a healthy RM7.2 billion (553.3 billion) worth of manufacturing projects in the first five months of this year, and the indications are that it is
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    • 168 12 KUALA LUMPUR Reuters MALAYSIAN state oil company Petroliam Nasional Bhd (Petronas) said yesterday annual revenue surged 21 per cent to a record, but earnings grew just 4 per cent due to a higher tax bill and slim refining margins. Refining margins remained weak
      Reuters  -  168 words
    • 359 12  -  From, Diana Oon Abdullah in Kuala Lumpur MALAYSIAN stock market regulators yesterday placed obstacles in the way of stockbroking group TA Enterprise Bhd's aspirations to obtain a universal broking (UB) licence which would allow it to offer the full range of financial services.
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    • NOTE Book
      • 101 13 Reuters [HONG KONG] Hong Kong people are expected to take to the streets today to denounce the Beijing-backed government's tough anti-subversion law, demand full democracy and rage at its inability to revive the ailing economy. "It is difficult to guess but we
        Reuters  -  101 words
      • 69 13 Reuters [HONG KONG] Hong Kong's fiscal deficit reached HK$l6.7 billion (Ss3.B billion) in April and May, the first two months of its fiscal year, the government said yesterday. The figure was up about 14 per cent from the same two-month period last year, when the
        Reuters  -  69 words
      • 58 13 Reuters [HONG KONG] Ports-to-telecom conglomerate Hutchison Whampoa Ltd, controlled by tycoon Li Ka-Shing, launched yesterday a 10-year, one billion euro bond deal, sources said. HSBC is the sole bookrunner for the transaction, whose initial price guidance has been set at mid-swaps plus 190-200 basis
        Reuters  -  58 words
      • 72 13 AFP [BANGKOK] Thailand's government said yesterday it plans to encourage Bangkok residents to abandon their cars and take public transport by halving fares for the city's elevated train and subway networks. Under the new plan to unclog the city's crowded streets, it will
        AFP  -  72 words
      • 68 13 Reuters [MANILA] Developing Asia's economy is expected to grow around 5 per cent this year despite the outbreak of the Sars virus, the Asian Development Bank (ADB) said yesterday. ADB President Tadao Chino said Asia's robust performance, compared to other regions, would be based
        Reuters  -  68 words
      • 80 13 Reuters [BANGKOK] Work on a controversial US$7OO million gas pipeline between southern Thailand and Malaysia would continue despite calls by lawmakers and environmental groups to suspend the project, Thai Prime Minister Thaksin Shinawatra said yesterday. In the last week the national human rights commission
        Reuters  -  80 words
      • 94 13 Bloomberg [MANILA] The Philippine government cut plans for debt sales to fund this year's Budget by up to US$7BO million and may instead sell a bond to rescue a state. utility. The government may go ahead with US$4OO million of the as much as US$9OO million
        Bloomberg  -  94 words
    • 545 13 HONG KONG Outlook brightens as Sars fades; N Asian issues seen dominating market Reuters NEW share issues from Asia Pacific outside of Japan fell nearly 29 per cent in the first half of 2003, but they are expected to gather pace in the
      Reuters  -  545 words
    • 499 13 HONGKONG Barriers to foreign investment still exist, say analysts Reuters HONG Kong's free trade deal with China will be of limited help to the territory's struggling economy and do little to dismantle other barriers to foreign investment on the mainland, analysts said yesterday. The Closer
      Reuters; REITERS  -  499 words
    • 330 13 BEIJING Reuters SAMSUNG Electronics Co Ltd, the world's second-larg-est semiconductor maker, has won Chinese government approval to set up chip research centres around the country, executives said yesterday. "We plan to set up semiconductor research centres nationwide, starting in Suzhou and Hangzhou,"
      Reuters  -  330 words
  • 1608 12 SICOMrPTUIBS Jun30 ROBBER Mm (OostaQ prices) ISS1 (S ce*tsAg) dose Volume Open Month High Low Sett (tonnes) Interest M 03 175.00 Aug 03 168.50 Sep 03 161.75 Oct/Dec 03 68.75 RSS 3 (US ccots/kq) Voteme Open Month High Low Sett (tonnes) Interest Jul 03 1 9825 900 Aug 03
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  • 4851 13 Transaction date: Jun 30 HONGKONG v«i HKRWI 1.31 unch 5027 HM W- 000 Hong Kong Electric .30 60 0 20 2545 Hongkong Chinese .0.84 -002 2612 Alpha General 0.28 unch 56 Hongkong Chinese Ltd 0.84 -0.02 2612 Ananda Wing On 001 unch 0 Hopewell Holdings .8.30 0 35
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  • WORLD news
    • 584 14 HASEL It's unsure whether rebound would take hold despite recovery signs Reuters THE world economy is stuck in "an uncomfortable soft spot" with deflation and a weakening dollar posing new threats to an already stuttering recovery, the Bank for International Settlements (BIS)
      Reuters  -  584 words
    • 278 14 WASHINGTON Bloomberg Reuters CHICAGO-AREA manufacturing expanded in June for a second straight month, a sign factories have recovered after the end of the Iraq war, a survey of purchasing executives showed. The National Association of Purchasing Manage-ment-Chicago said its factory index rose to 52.5 from 52.2
      Bloomberg; Reuters  -  278 words
    • 259 14 ZURICH Reuters AROUND a fifth of traders do not care whether a rumour making the rounds will ever be proved true, a study showed yesterday, arguing that rumours still held a mythical money-making promise for some market players. A University of Zurich
      Reuters  -  259 words
    • 419 14 LONDON Survey shows 78% believe they are also overpaid AN opinion poll by the Financial Times shows the vast majority of the British people regard the directors of top companies as untrustworthy and overpaid, revealing the extent of public cynicism towards business. Four
      REUTERS  -  419 words
    • WORLD Watch
      • 92 14 Bloomberg [PARISJ Media giant Vivendi Universal SA was yesterday ordered to pay former CEO Jean-Marie Messier 20.5 million euros (5541.3 million) in severance withheld when he was ousted last year. Vivendi will use "all available legal actions" to challenge the June 27 decision by an
        Bloomberg  -  92 words
      • 57 14 AFP [TOKYO] Softbank will sell its 49 per cent stake in Aozora Bank US investment fund Cerberus for 101.1 billion yen (Ssl.s billion). The decision brings to an end the battle for ownership of Aozora between Cerberus and Sumitomo Mitsui Financial Group. The
        AFP  -  57 words
      • 79 14 AP [MELBOURNE] John Elliott, one of Australia's best-known businessmen, was banned yesterday from directing any corporation for four years after being convicted of allowing a company to trade while insolvent. He was also fined A 515,000 (5517,629) and ordered to pay a share of Asl.4 million
        AP  -  79 words
      • 74 14 Reuters [TOKYO] NEC Electronics said yesterday it could raise up to US$l.3 billion at the high-end of its book-building range, putting it on track to be one of the world's biggest IPOs this year. NEC Electronics set the book-building range for its IPO at between 3,600
        Reuters  -  74 words
    • 388 15 TOKYO Iran deal may strain US ties; setback in talks with Russia AP AFP ENERGY-hungry Japan has run into political problems trying to secure supplies from Iran and Russia. Its oil deal with Iran could strain ties with the US, which
      AP; AFP  -  388 words
    • 169 15 Reuters [TOKYO] Japan's top wind power development firm plans to invest up to 140 billion yen (Ss2 billion) to boost its generation capacity by 2005 to meet strong global demand for clean energy sources. Eurus Energy Holdings Corp, a joint venture by
      Reuters  -  169 words
  • 2345 14 Transaction date: Jun 30 KUALA LUMPUR y#| ■y room General Soil 136 unch 0 Genting 15 00 0 40 941 ASM Realty 0.77 -0.02 2 GfT 9 -T T "J£ Abr« .0.* 005 1260 GI°beU'y»a T «d> 5.00 undi 91 ACP industries 3.95 undi 13 «S Advance Synergy 040
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  • 665 14 Transaction date. Jun 30 Mi owe -can mbm»« e» CK OH >W «.IM OCBC r* 180® fl» CaHM M4 tJC ***** OUC 09 7000 «IDC Ovn Wnum A> US 0M -ttOtl <H7 0 7*0 CftOntt IJK (MO 0CK) NiiirtMooMQOr 0 J MM Oflli 0—I—<>*e at 146 oa» a»ts m»h
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  • 521 14 BONDS WARRANTS Last Vol Csav Eur Due tear Hi fniini»r| Sale *«r fWH btw Pita h»g Uft AST1W*****1 ii 1 16 41 246 12 AonaLtdtMMIIIC 2 1 50 420 5.00 17 Amte* W0S0610 71.5 1 33 4 1.40 24 Armstrong W040S20 5 05 434 1 10 30 2.30 11 Boustead
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  • 6119 15 Transaction date: Jun 30 52-Mi Last Vol Day Last Quote GrOw Oiv GrVM MM MCap Loo Cowpwy Sate W- COOP) WHl low Buyer i*m Cw M W ABNAmroNLG 56c 9 12 3.4 138.8 16 9 ACE Dynamks20c 15.5 unch 89 16 15.5 15.5 16 100 129 15.3 21
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  • 65 15 SMIt Ljd Vol Day LMQMM OfOw Mv GrYM MM MCjp U» rinpni rw» Hfrfr l—r >mwr Sdter Cw M iH 9600 89 Oumon* US8780 37V) 2700 ISDJUSTedl US3740 555 555 IS MSCI Spore US55S 8270 8200 ISSAP500 US8270 9650 8280 STOW US96S0 1670 1230 STIETT 100 1485 10
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  • 1577 15 524* Last Vol Day LanQwtt GrDw On GrTM MM MCaa W» L—r Ciapii Sd» W- C888I W# L— 8f«r it/km Cm HI SiJ 17 75 ABRHIdgiSc 14 -1 36 14.5 14 14 15 J 25 15 APOiISc .145 -05 348 24.5 24 24 24 5 27 2.6 5.5
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  • 315 15 um LMt Vol Day Last Quote GrtXv M> GrVW MM MCap HM» Low Ci—iay s*« W- C*W> L— term Safct Cw f« 160 11 AVJen«n®A25c A159cd «4 348 160 157 159 160 40 3.4 6.3 93 3422 Cathay Pac 20c MIC720 265 2.1 7.4 6 *****2 OwungKangSOc HK1780
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  • Page 15 Miscellaneous
    • 202 15 CRYPTIC CROSSWORD embraced me pc ainn fn rhanrw» ir\ 8 83,15 tossed U P b Pekin 9" 9 Thesaurus, 10 Ideal, 11 Swarailing to cnange sioes (t>j ese 9 (8) mi, 12 On request, 13 Emerg--26 Reverse some undertak- D ,.n »k« p.«„o r„ IW 9 13 Pull out all
      202 words

  • FOCUS enterprise
    • 1690 16  -  The diligent uncle-and-nephew team seeks profit stable income, and a business they can remain passionate about says Jaime Ee Jaime Ee BEING No 1 isn't the be-all and end-all of business success, says Tan Khieng Sin. Not that he hasn't ever been in that position
      ARTHUR LEE  -  1,690 words
  • Page 16 Advertisements
    • 465 16 Call toll-free 1800 289 8822 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF WALTEX TRADING PTE LTD (In Members' Voluntary Winding Up) NOTICE OF FINAL MEETING NOTICE is hereby given that pursuant to Section 308 of the Companies Act, Cap. 50 the Final Meeting
      465 words
    • 143 16 n^" Lianhe Zaobao I Companies I I listed I I in first half I I oftheyear I I making I I good I I progress I I I I I Select from our extensive a la carte buffet menu featuring 60 superb Sichuan and Cantonese gourmet delights. Lunch (Sat, Sun
      143 words
    • 59 16 §1 Spring Court The Oldest Chinese Restaurant in I Singapore since 1929. 74 Anniversary Special PEKING DUCK Limited to one per table with oun. order of SSOoowanb. Boost your Enjoy the nourishing benefits of our tonic soups. Drop in and give your health a boost at Captain's Table. From $7.00++
      59 words
    • 160 16 The Best Of Teochew Porridge At The River Terrace Be Porridge Savvy and eat your way to a healthy lifestyle! Have Porridge either mty, with or without chunks of Sweet Potatoes in it To accompany your porridge, we offer a range of sweet A savory local favourite*. Available on Mondays
      160 words
    • 7 16 cm Buy It. Sell It Find It
      7 words

  • SHIPPING TIMES
    • 264 17 Reuters THE Baltic Dry Index fell 2 points to 2127, the Baltic Capesize Index fell 31 points to 2799, the Baltic Panamax Index rose 27 points to 2127 and the Baltic Handymax Index rose 7 points to *****. TIME-CHARTER: Maratha Mission (built 1985) ***** dwt 12.5 on 37
      Reuters  -  264 words
    • 278 17 MX '000 JmJt 8 HI CWT Distribution 0.59 -0.01 10 ChuanHup 0.42 0.01 1664 CH Off shore Oil unch 779 Cosco Invest ment ....0.29 0.01 890S Freight Links 0.06 unch 226 GB Holdings 0.70 0.02 35 Java Holdings 0.38 0.02 2271 Keppel Corp 4.90 -0.08 2887 K1 Venture
      278 words
    • 413 17  -  Suspension follows reports of cheating in exams by deck officers From, Alec Almazan in Manila EFFORTS by the Philippines to maintain the reputation of its seafarer licensing system suffered a blow when Australia recently suspended recognition of Philippine seafarer's certificates of competency. The suspension
      FILE PHOTO  -  413 words
    • 359 17 It is negotiating the saleoffonrofits container ships Bernama [KUALA LUMPUR] Global Carriers Bhd, which has completed its restructuring exercise in May, is considering the possibility of buying more tankers in the future. Its chairman Azlan Hashim said that the purchase would not
      Bernama  -  359 words
    • 363 17 Bernama [KUCHING] The Sarawak government proposes to lower shipping transportation costs, which has affected exportoriented industries, as an incentive to manufacturers in Sarawak. Deputy chief minister, George Chan said yesterday that the findings of a study on shipping transportation, being conducted by the
      Bernama  -  363 words
    • 88 17 [PORT KLANG] A Malaysian fishing boat passes the back of the world's largest container ship. Orient Overseas Container Line (OOCL) Shenzen, at Northport in Port Klang, 70 km west of Kuala Lumpur. The Hong Kong-based 323-metre ship, with a service speed 0f25.2 knots at full load, takes 56
      REUTERS  -  88 words
    • TROUBLED railways
      • 671 18 A Bush plan to turn ailing Amtrak into an operating firm is worrying Northeast states and freight railroads Reuters [WASHINGTON] Northeastern states of the US and freight railroads are resisting a Bush administration proposal to dismantle Amtrak, worried the change would strain finances and make
        Reuters; FILE PHOTO  -  671 words
      • 212 18 Reuters [LONDON] The operator of Britain's crumbling railway network plans to cut 2,000 jobs over the next three years as it tries to rein in costs, the firm's chairman said yesterday. Network Rail, which took over from previous operator Railtrack last year after
        Reuters  -  212 words
    • 130 18 PAGE BSA 6 B'tang Mas 6 CMACGM 3 COSCO 3 Columbus 5 Central El 4 China Shpg S Cougar 5 CWT GttaM 6 Detmas 4 Oongnama 3 ECl 3 Evergreen 4 Fooofl Sun 5 Fujitrans 6 Gemartrans 4 Hangli 4 Hyundai 4 Heunq-A 3 IRISl 5 Kapal
      130 words
    • SHIPS IN PORT
      • 761 23 Vessel Voy Wo Berth Arrival Departure JURONG PORT/MULTI-PURPOSE TERMINAL LABROY 158 EBLS16 J12 A/SIDE 30/06 1400 LADY *****6 J16/17 A/SIDE 30/06 1800 OCEAN FRIEND V137 J10/11 A/SIDE 30/06 1500 TANGQUAN 165 J8 A/SIDE 30/06 0800 ASIA CEMENT2 867 J23 30/06 0700 02/06 0500 ATLANTIC OC ***** J12 30/06
        761 words
      • 2090 23 CONTAINERS TERMINAL AND VESSEL SCHEDULES Vessel Out In Bth Berthing Un- Berth Name Voy Voy seq berthing Nmbr ACX DAHLIA 063N 063N 1 01 <07/2003-06 00 0207/2003-04 00 T01 ACX RAFFLES 079$ 0795 1 01 <07/2003-07JO 0107/2003 2100 T04 ALAMJAYA 2 8851 8851 1_ 3006/2003-06 35 01/07/2003-0130 P03
        2,090 words
      • 136 23 Jail China: Communist Party. Hongkong: SAR Estab Day. Thailand: Bank Holiday. Jnl 14 France: National Day. U Kingdom: Orangmen's Day. Jul IS Brunei: Sultan Birthday. Thailand: Buddhist Lent Day. Jul 17 S Korea: Cons Day. Jul 20 Japan: Marine Day. Aug 1 China: Founding Chi PLA. Aug 4
        136 words
      • 843 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 averagesized stem Market movements are indl cated The Cockett Bunker Price Index change and
        843 words
      • 479 23 CrtM,,, WO Mn 991.0 0.3 15.7 0.07 45 0.02 Hater AshAto,in«. SrthMrt J.S 0J ISO fl.oS zS oJ *J12 380 Max 990.8 10 17.4 0.09 68 0.08 M/W3 m/m M/M mi n»etrio<i Wo above 635 0 1 o 0 0 0 ISO/Cimac limits SpecE25 991 U>
        479 words
    • AIR & LAND transport
      • 365 24 Japanese carrier reducing fleet of single-aisle planes to one aircraft type Bloomberg [TOKYO] All Nippon Airways (ANA), Asia's secondbiggest airline, said it placed a firm order for 45 Boeing Co 737-700 jetliners, in a move to cut costs by reducing its
        Bloomberg; FILE PHOTO  -  365 words
      • 73 24 [BEIJING] Chinese officials and a tour group from South Korea posing before a banner declaring there is no Sars (severe acute respiratory syndrome) in the Chinese capital, Beijing, yesterday. Tourism officials keen to jump start the tourist industry organised an event to mark the arrival of the
        AP  -  73 words
      • 325 24 Bat they reject more public fanding for flag carrier Swiss: survey AFP [GENEVA] More than half of the Swiss believe the country needs a national airline but nearly 80 per cent oppose further injection of public funding, according to a survey published in Swiss
        AFP  -  325 words
      • 301 24 Bloomberg [SYDNEY] Deutsche Post AG's DHL unit wants to expand its freight business between Australia and New Zealand to take advantage of rising demand, DHL Asia Pacific chief operating officer John Mullen said in an interview. DHL currently flies daily between Australia and
        Bloomberg  -  301 words
      • 236 24 Cooperation expected to help boost Thai tourism ANEX-TNA IPANGKOK) Thai Airways International (THAI; and Vladivostok Airline has signed an agreement on bilateral cooperation, in which the two airlines will join hands in providing direct flights for passengers wanting to fly from the eastern region
        ANEX-TNA  -  236 words
      • 179 24 'QantasAir NZ deal will deter newcomers' Reuters [CANBERRA] The proposed tie-up between Qantas Airways and Air New Zealand would have a wide reaching regional aviation impact and deter new international entrants to the Australian market, Australia's outgoing competition head said yesterday. Allan Fels, who steps down as chairman of the
        Reuters  -  179 words
      • LOG Book
        • 110 24 Bloomberg [DALLAS] UAL Corp, the parent of United Airlines, said it had a US$64 million net profit in May, helped by US$3OO million in US government aid for costs related to the war in Iraq, and met bankruptcy loan terms for the fourth straight
          Bloomberg  -  110 words
        • 99 24 AFP [TAIPEI] EVA Airways, Taiwan's second largest international carrier, has taken delivery of the first of the 10 Airbus A330-200s it has ordered, a company spokesman said yesterday. The aircraft will serve routes to Japan and South-east Asia, he said. A second A
          AFP  -  99 words
        • 90 24 AFP [MUNICH, Germany] The newly-inaugurated second terminal at Munich airport, Germany's second biggest after Frankfurt, opened for business on Sunday with an early-morning flight to Greece. The terminal is designed to handle up to 25 million passengers each year, doubling Munich airport's existing capacity. Germany's
          AFP  -  90 words
        • 83 24 Reuters [NEW YORK] Alaska Air Group said recently it will cut annual costs by about US$lOO million, with another US$2OO million in savings earmarked going forward. The parent company of the No 9 US carrier Alaska Airlines said it wants to reduce its
          Reuters  -  83 words
      • 1849 24 an asm em fusht no (*7306 tecs iwtm 2350 MM IH»T70 2235 Of* *05 S026 2350 ski* ax «nt aw *aUterfta *1(37 >455 0*974 0130 S0909 1540 S0990 0105 KU3t 2255 Fntal W853 1625 WM "40 S024 2344 6wN*M 50(03 1X0 CZ352 0CI0 tacUart IM9817 1900
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  • Page 17 Advertisements
    • 14 17 THAI, Russian airline sign pact ■BACKPAGE Amtrak shakeup: northeastern states resist proposal PAGE 2
      14 words
    • 52 17 42 Circular Road Singapore *****8 V <= JT. 65-6536 2029 www.mollt-maloae.com M Get Shanghai'd at Molly's! I Free rum shots from a bevy of fine-looking Rum Runners |H "Hoist the Jolly Roger" from spm to Bpm with H > draught Heineken and Tiger at $8.80 a pint B Generous lashings
      52 words

  • Page 18 Advertisements
    • 640 18 IMPORT NORTH AMERICA j[ |T AUSTRALIA/NEW ZEALAND SUPER SHUTTLE EXPWBBS (SSX) [AUSTRALIA ASIA EXPRESS (AAX) vp» voy >*» ""aT* 1 pro vcsa vot one $td «a un Fti no OOQNCWTOM 31W24 18/0* o*/07 AMAUANT 14N 73/0* 2S/0* M/ 0* 30/0* OWT 07/07 OMT OOQAMBKA MW2S 25/04 13/07 15/07 NTK PRKX
      640 words
    • 489 18 XSltox Lines services represented by rj f* Members of the Regislry of c IW9 Accredited Sbippng Ag^h, Singapore Shipping Assock*ion gjj ULY UNE MALE AKSHL VOY ETA FTA ETA P. KiAWC SfOtE MALE Mold Star 540 A 03/07 05/07 U/07 Empress Lily 0403 13/07 15/07 24/07 Mold Carrier 740 A
      489 words

  • Page 19 Advertisements
    • 1142 19 TO USA (SAX SERVICE) VESSEL VOY SIX ETA LAX OAK DM HOU CHI COi HUM All NYC APISCOTLANO llg 92/07 17/07 21/07 22/07 22/07 22/07 77/07 22/07 25/07 25/07 APIBELGWM 116E 09/07 24/07 28/07 29/07 29/07 29/07 29/07 29/07 01/00 01 /M API SWEDEN 008E 16/07 31/07 04/00 05/0» 05/0*
      1,142 words
    • 2339 19 "lIP9KAM OVR SEIYICI FKOM SI*MNU 10 BUCK SIA VIA POtT MT OOmAOPOAM) 19 DAYS HYCMVSK (UKRAINE) 20 (MOTS fmui HW)■ MMrvn: wiwmwmij-w mus/hb lit Hnxv/N hul khmii/h fMHTiimi (MMiiiati m myr COSTAR SHIPPING PTE LTD o*mi outward ti/u mmswi uuuts/rs I COHJTAIIIiA (ROMANIA) 23 MB SISvii«7M<SMJ» TO:4114 IWHMI INWARD (D/OI
      2,339 words

  • Page 20 Advertisements
    • 979 20 HMN& HYUNDAI MERCHANT MARINE CO., LTD. Hwipni: www.hMfll.twn 01 NO. **********0H |vßsa wt ai sou i« tra |aw ham wv~| |ypsa vqt sou |uh rtii ant ham »«v T MM SOLUTION 01JW 17/04 11/07 10/07 14/07 IJ/07 AnCYMtM 11K 02/04 M/ 04 04/04 2S/04 MY HKMNBS 344W 30/04 22/07 14/07
      979 words
    • 21 20 Bunkum Bunker? Check it out in Shipping Times daily Bunker reports. FOR STRAIGHT TALK ON SHIPPING MATTERS EVERY WEDNESDAY Shipping Times
      21 words
    • 514 20 WN WAN HAI LINES V TIL *****588 FAX: *****163 INTRODUCING 3.- NEW WEEKLY EXPRESS SERVICE TOs HODEIDAH PORT SUDAN CALLING SIN EVERY THURSDAY TWICE WEEKLY EXPRESS SERVICE TO: JEDDAH CALLING SIN EVERY TUESDAY THURSDAY* For moro details, emit HOTLINE: *****388/1800-*****00 HlHii VPSB voir UN m m toi mmn m ASIA
      514 words
    • 695 20 BSA x MYANMA FIVE STAR UNE (My—r NoHmml Um) Loodlng for Y«fN VISSE VOT SM PKL P« PGU PAGAN 306W SIO HPA-AN JO m Sift IN MAUTSIA: OOUSTIAO SHIPPING AGfNCKS KUL 03-*****300 PKL 03-*****101 PCM; 04-2****** BANK LINE (A servke of Andrew Wok SUppinf) 1 NORTHBOUND TO IUROPf V COKTAMR,
      695 words

  • Page 21 Advertisements
    • 1122 21 IVISSIL VOY KHH HKO SIN I Ml I OU Ml I DMM BIK IRAN TEHRAN PCL 31S OTTOT OTTOT 03/07 06/07 13/07 14/07 20/07 22/07 UNDAVIA PCL 319 08/07 09/07 12/07 13/07 20/07 21/07 27/07 29/07 IRAN KERMAN PCL 320 IS/07 16/07 19/07 20/07 27/07 2S/07 03/0# 05/08 IRAN ISFAHAN
      1,122 words
    • 560 21 i VFtT k UK CONTINENT SERVICE Loading for GULSER ANA RDM/ATW/BMN/UK/NAN EVANGELISTRIA ROM/ATW/BMNAJK/NAN Loads Singapore. E7W Malaysia. Indonesia MIDDLE-EAST SERVICE Loading for J SAFE DBl/ABU/DOH/BRN/DMM/KWT LOK MAHESHWARI JDH/AQA PAN BRIGHT ADN/HDD/JDH/AQA APJ ANJLI DBl/ABU/DOH/BRN/DMM/KWT "Loads Sngapore, EVW Malaysia. Indonesia USA SERVICE Loading for QUI GONG JINN CAM/NFK/SAV/NOL PAN DYNAMIC VCW/LAX/M2L
      560 words
    • 868 21 vtssa *21 rn ESI -ffisa m m PAOANOA OWN 02/07 01/07 Mm LQfiZ 01/07 >5/07 P»C PANDA otgN BMZ 24Z0Z_ pacmmtan !2M QA/fIZ tM/>7 PACOANPA OWN 05/07 00/07 Willi] lflfli 10/07 12/47 pacianpa omsn 07/07 fiZZfiZ wiam mo "/Q7 is/07 jKumt nm nm 01/07 P4CUND* OW7W 00/07 10/07 M I
      868 words


  • Page 23 Miscellaneous
    • 117 23 Iregional weather Issued by Meteorological Service Division,NEA LEGEND: Thunderstorm Wind speed symbols v 7 Showers J Fu 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 x Hazy A -One solid
      117 words