The Business Times, 11 September 2003

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Total Pages: 24
1 24 The Business Times
  • 16 1 THE BUSINESS TIMES MITA (P) 024/03/2003 85C SINGAPORE Internet: "> f tp://business-times.asial com.sg THURSDAY, SEPTEMBER 11. 2003
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  • 747 1  -  Investors also locking in profit ahead of Sept 11, say traders By Kenneth Lim [SINGAPORE] Profit-taking in the Singapore stock market eased yesterday as some confidence returned. After dropping 42 points on Tuesday following news that a new Sars case had surfaced, the Straits
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  • 74 1 Dsn 1,566.71 (-13.43) ST INDEX FUTURES 1,582.00 (-15.00) SIMSCI FUTURES 191.00 (-1.40) Wednesday Change KLSKCOMP 736.23 -6.60 NIKKEI 225 _10.856.32 -65.72 HANG SKNCi 10.810.31 -2*51 SET INDEX 560.57 #302 JAKARTA (X)MP .572.85 12 44 MANILA (JOMP 1.292.52 -fi.81 TAIPEI WPI 5,623.4:1 5726 SEOILCOMP ***** »721 SHENZHEN B ***** >0.4:1
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  • 84 1 FOREX RATES US* SI I s$ |SS per I SS| 1.750 5£(l SS/SS (XT V) 1594 2.788 EI 'RO(l S$/S$/E). M22 196:1 YEN 116.7 66.70 RM IWO 1172 H KS 7 799 4.458 BAHT 40.40 23.09 RI'PIAH K.4iJi» 4.821 RENMINBI 8.299 4.74:1 INDIAN RIPEE 45.75 26.15 AS 1.519 0.868
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  • 946 1  -  MULTI-MILLION-DOLLAR FRAUD Legal experts do not believe APB will be found liable for banks' losses By Ven Sreenivasan [SINGAPORE! Former Asia Pacific Breweries (APB) finance manager Chia Teck Leng faces eight additional charges of allegedly cheating four multinational banks of over Sslls
    FILE PHOTO  -  946 words
  • 355 1  -  REJECTION OF MAGACORP IPO Anticipated ads to thank supporters yet to be taken out By Loh Hoi Yin [SINGAPORE] Casino operator NagaCorp, from all appearances, is intent on finding a solution to its initial public offer which has been rejected by the Monetary
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  • NEXT page
    • ON THE grapevine
      • 121 2 HERE'S a snippet that may come in handy for those with ambitions to study or work in the US. Business Week magazine's website— www.businessweek.com has a really neat calculator. It allows comparisons of the purchasing power of a given salary in different US cities. For example, it shows
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      • 146 2 OUR readers should be familiar with one time-tested way in which citizens of countries with currency controls turn to big-ticket jewellery items to move their assets around. For example, India's underground gold market was a legend among metal traders once upon a time. Now we're
        146 words
    • 323 2 Company, with 13 quarterly losses, to dose Dublin plant Bloomberg [LONDON] 3Com Corp, which has had 13 straight quarterly losses, plans to farm out all manufacturing of its computer networking equipment and eliminate about 1,000 jobs, almost a third of
      Bloomberg  -  323 words
    • 781 2  -  Private fond will hold, nurture assets until they achieve OBIT'S target yields By Kalpana Rashiwala [SINGAPORE] Capita Land group yesterday unveiled a strategy to stave off competition when buying malls by outbidding rival bidders while maintaining the yields of its Capita
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    • 667 2  -  Kicks off with 200 students bat slated to grow to 1,000 BT exclusive By Loh Hui Yin [SINGAPORE] The Singapore flag was hoisted in Chongqing yesterday at the Chinese city's first international school. This is because the Chongqing International School is 80 per
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    • 555 2  -  They're more keen on bilateral free trade pacts By Chuang Peck Ming [SINGAPORE] The voice of businesses has been noticeably quiet in the run-up to the World Trade Organization's ministerial trade talks which start in Cancun, Mexico, today. Unlike in the previous
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  • Page 2 Advertisements
    • 62 2 Incorporation services in all major jurisdictions Global network of offices Ready-made companies available Management and administration services China business registration Accounting and trade support services Virtual office solutions Personal and corporate bank introductions TO ARRANGE A FREE CONSULTATION CONTACT: Aidan Healy or Simonne Toh T: +66 6535 3382 F: +65
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  • Page 3 Advertisements
    • 29 3 -.'fij~ []H^HH||. +&]»3£*%b&Zit' r Ji~*m W9 fcip l ,p-f^ag n Think Plasma Think Hitachi HITACHI HITACHI HOME ELECTRONICS ASIA (S) PTE LTD Tel 6278 7177 www.hitachiconsumer.com.sg Inspire the Next
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  • SINGAPORE companies
    • 502 4  -  IMPACT OF SARS The agency also says CPF rate cats do not pose a major problem for banks By Siow Li Sen THE three local banks are Sars resilient because the risks posed are transient rather than structural in nature, Standard Poor's said yesterday.
      Source: Bloomberg  -  502 words
    • 391 4  -  RM48.5m sale to partner priced almost at cost From Eddie Toh in Kuala Lumpur UNITED Overseas Bank has agreed to sell its entire 45 per cent stake in a Malaysian brokerage to its partner but the Singapore bank will continue to have a stockbroking
      391 words
    • 745 4  -  HOCK lock siew wong wei kong THE impressive debut of Heeton Holdings, the first property stock to list here in over three years, does not remove the question marks over its prospects. Heeton shares closed at 30.5 cents on Monday, its first day
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    • 362 5  -  Trading volume up 80% year on year, market cap hits 16-month high By Ven Sreenivasan IF YOU still don't believe that we are in the midst of a bull market, then check out some of the latest statistics. Trading volume
      Source: Bloomberg  -  362 words
    • COMPANYBriefs
      • 70 5 MAINBOARD-LISTED Trek 2000 yesterday said it has received new patent approvals from eight countries, including the United Kingdom, for its well-known ThumbDrive portable data storage and biometrics devices. The other countries are South Africa, Nigeria, New Zealand, Mongolia, South Korea, Lebanon, and Bahrain. The
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      • 64 5 Elec Eltek profit slides 44% PRINTED circuit board maker Elec Eltek International Co said its fiill-year net profit fell 43.9 per cent due to higher distribution costs and provisions for bad debt. The subsidiary of Hong Kong electronics manufacturer Elec Eltek International Holdings said net profit was $24.9 million for
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      • 52 5 STARTECH Electronics had a new substantial shareholder on Monday after Quek Peng Hock, Henry, bought 530,000 shares, or 0.54 per cent of issued share capital, on the open market. Mr Quek, whose stake in Startech is now 5.12 per cent, made the purchase at 10
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      • 46 5 TAN Wee Soon, chief executive of NeoCorp International, resigned from Sept 9. NeoCorp chairman Dr Roland Neo (right) will take his place. The news comes a week after the resignation of another director, Wong Meng Khoon, who was alternate director to Mr Tan.
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      • 35 5 QAF substantial shareholder Goi Seng Hui has bought 613,000 shares of the company since last Friday, bringing his stake in the company to 5.49 per cent from 5.31 per cent.
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      • 61 5 JARDINE Fleming Asset Management became a substantial shareholder of China PET bottle maker Full Apex last Thursday with an open market purchase of 3.5 million shares. Those shares represent 0.45 per cent of Full Apex's issued share capital, and nudged JF Asset Management's stake
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      • 67 5 PORTEK International said it expects net profits for the year ended June 30 to fall by 32-36 per cent despite a revenue increase 0f25-30 per cent. The profit decline is due to start-up losses of about $1.2 million from the Banten multi-purpose terminal, and to
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      • 80 5 SOON-TO-BE-LISTED A-Sonic Aerospace Ltd yesterday clarified that the earnings estimate in the BTs article, "A-Sonic IPO placement issue snapped up", was the result of an analysis done by the newspaper. In the article, BT estimated that A-Sonic's full-year earnings growth for FY2003 was expected to be about $8 million,
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    • 541 5 Top performers come from marine and logistics sectors Reuters SINGAPORE'S small listed companies have outperformed their larger rivals in the recent stockmarket rally as investors have hunted for undervalued and overlooked firms with good growth, brokers and fund managers said. The UOB Sesdaq index, which
      Reuters  -  541 words
  • Page 4 Advertisements
    • 201 4 REFCO PRIVATE CLIENTS DIVISION Fortunately, even today there exists a few irreducible men who insist on wearing these elegant pieces. In spite of the added time and effort required. Most likely, these individuals recognise cufflinks as one of the few options the discerning man has for effectively enhancing the standard
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  • SINGAPORE markets
    • Article, Illustration
      336 6 OTHER SINGAPORE INDICES Sep 10 VALUE CLOSE BTOG/DS 48.00 +90.00 BTCAOI -*****.00 -9.00 BTlO-dayMA -*****.00 +5.00 AH-SG Equities 426.34 -2.12 SG Equitim Hwt 174.40 +2.70 SQEquitit Fla 1317.28 -16.96 SCEhmW—Prey 388.18 -3.51 NmStegapor* 192.55 -1.65 saasaFataHw 191.00 -1.40 Stocks Voiunw Chart SemiCond 26c 66.593.000 GES Intl Ltd 20c 57.187.000 Asia
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    • 246 6  -  By Ven Sreenivasan THE stock of Samudera Shipping Line has surged strongly in the past three months. It closed a cent down at 44.5 cents yesterday as some two million units changed hands. This is a stock which is relatively
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    • 791 6  -  BT comment STOCKS r. sivanithy THE situation the local stock market finds itself in at the moment clearly provides fertile ground for students of behavioural finance, a relatively new branch of investment theory that seeks to explain how people make judgement errors when
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    • 615 6  -  BT comment CUURRENCIES Singapore dollar jumps as fears over Sars abate larry wee THE rush out of US dollars took on a greater urgency trading as Wall Street indices slipped, and those in the know continued to report serious investor interest in
      Source: Reuters  -  615 words
    • 433 7  -  Shares purchased from deputy chairman and CEO Toh Soon Huat By Serena Ng HONG KONG-LISTED Heng Fung Holdings appears to be building up an appetite for Singapore-listed companies, particularly those with a link to interior design or furniture. The group, which
      FILE PHOTO  -  433 words
    • 237 7 LOSS-MAKING Horizon Education and Technologies, which this week issued 30 million new placement shares to raise about $3 million, yesterday proposed to issue convertible notes worth $8 million to Hong Kong-based Quantum Capital Asset Management or its nominees. The proposed 2 per
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    • 682 7  -  CORPORATE ANALYSIS The purchase of a majority stake in Winstek signals its commitment to the chip tester's clients there From Macaho Koliher in Taipei WITH an unassuming factory among the ricefields of northcentral Taiwan, Winstek Semiconductor Corp could be any one of the
      FILE PHOTO  -  682 words
  • 3278 6 UNIT TRUSTS FUNDS Comm«nb*nfc ftatt Mat Cam Global Finance maei amm Antra Mni f-'mnni Com Global Lifestyle Indu fd 0.924/ 0663/ Com Global Health mde»fd 0.846/ 12 VI Com GUM Telecom mde» fd 0 44* i» F.»™ gal ok,, Com Global mfatec Indo fd! 0.36 V star ojmi Star Asa
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  • EXECUTIVE suite
    • 1134 8  -  But secondary market prices have fallen by 7-12% in the past year. Kalpana Rashiwala finds out why Kalpana Rashiwala THE average prices of nonlanded private homes sold islandwide have risen by 5 to 12 per cent over the past year in the
      Source: SSV Services Pte Ltd  -  1,134 words
  • Page 8 Advertisements
    • 609 8 PRIME OFFICE SPACE Effective Sub-lease Rate $2s) psf mth negotiable C Highly Subsidised'N Moving Fast Heart of Raffles Place Flexible Sizes from 1,300 28,000 sf Long Sub-lease Term Fitted Out or Bare Units Sole Marketing Agent Commercial 6531 8669 —I 6531 8666 Mm! Call toll-free 1800 289 8822 notkesjsp^co^^ Golden
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    • 129 8 Bishopsgate Bungalow Land For Sale -WBS* Bishopsgate 5 minutes to Orchard Road V" K'• Land Area 25,661.7 sq m (approx. 276,112 sq ft) V/ Freehold yy\\ r Vi, -*-0 PoteHtia' to subdivide the land into 16 Good 1 Class Bungalow plots, subject to approval ffl ISlI: *V Elevated and tranquillocation
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    • 41 8 Ll 181 tr {lllnl HB g j~^H Friday Fashion Nite! I Come catch our beauties show off the latest in leisure wear at Discovery Pub. It's also Happy Hours from 3 to 8 pm on weekdays and all day weekends < 2Z> ->■
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    • 149 8 Indulge In Indian Prime Minister's favourite dishes prepared by His Excellency personal chef Anil Kumar at Cafe Plaza. Plaza Parkroyal this September. Savour Aleppy Chemmeen Curry (Prawns), Kaada Varuthathu (Quail), Chicken Travancore and much more. Plus usual dishes from our Euro Asian Buffet. Ewo Asian Buffet Lunch L Dinner featuring
      149 words
    • 173 8 FOR SALE BY AUCTION Hongkong Street I s Freehold 5-storey commercial I building with lift Near Clarke Quay MRT Station Land Area: Appro* 1,793 sq ft Roberts Lane New freehold 6-storey commercial/residential bldg (potential as home-office) Near Fairer Park MRT Station iflg Land Area: Approx. 3,185 sq ft IK Possible
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  • SINGAPORE news
    • 333 9  -  Eight IT players and IDA will spend $5.4m totrain 51 IT specialists By Tang Wong Fai IN another effort to create jobs in the IT industry, the Infocomms Development Authority (IDA) and eight IT players said they will spend $5.4 million to train
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    • 319 9 AT the Spirit of Enterprise Awards yesterday, 38 people were honoured not for how much money their companies make in a year, but for displaying the qualities that make them entrepreneurs. "Self-reliance, the ability to see and seize opportunities, and the capacity to
      FILE PHOTOS  -  319 words
    • 432 9 Device uses video-game based exercises to boost concentration PARENTS and teachers of children with short attention spans can now use a new high-tech device to help improve their concentration. EDnovative Solutions (EDS) has launched the interactive educational product, Play Attention, which uses video-game based
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    • 331 9  -  EYE on the economy terms of trade By Kenneth Lim OIL prices rose faster for exports than imports and helped nudge Singapore's terms of trade for July up 0.2 per cent over the same period last year. Figures from the Department of Statistics show that
      Source: DOS  -  331 words
  • Page 9 Advertisements
    • 381 9 li£yEUKsfijliS2j£fi2| PRIME RESIDENTIAL SITE Land Area *****.8 sqm /Vj\ (Approx 191,036 sf) Tenure Freehold Planning Residential 2.1 PR 1M) Parameters (up to 24 storeys) Tender 10/10/2003 Closing Friday 4.00pm Pro^tex Country Property Management Pte Ltd To advertise call toll tree 1800 289 8822 Basil: noticesesph.com.sg IN THE MATTER Of THE
      381 words
    • 330 9 IN THE MATTER Of THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER Of SHENTONCOM PTE LTD (IN MEMBERS' VOLUNTARY UQUIDATION) At an Extraordinary General Meeting of the members of Shentoncom Pte Ltd, duly convened and held at 122 Middle Road #08-03 Midlink Plaza Singapore *****3 on Monday, 8 September
      330 words
    • 364 9 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF SINGAPORE INDUSTRIAL EQUIPMENT (1992) PTE LTD (IN CREDITORS' VOLUNTARY LIQUIDATION) Extract of the minutes at the Extroordinory General Meeting of members of Singapore Industrial Equipment (1992) Ltd convened and held at 20 Cecil Street, Equity Plaza
      364 words
    • 421 9 iX 2003 WHERE BUSINESS MEETS TECHNOLOGY I 30th SEP 3rd OCT 2003, SINGAPORE EXPO I Th» ntjtonal Infocotiwn ;ExhtbWon ConmtK*; "In the not too distant future, hundreds of The 21 st century will see the evolution of "Do not let the dot.com bubble fool you. We millions, then billions, of
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  • EDITORIAL & opinion
    • 712 10  -  THE bottom line OPINION robert samuelson The Washington Post Writers Group IF you ask who saved the US economy indeed, the world economy these past three years, the answer is plain. The tireless American consumer did the trick, buying ever-larger homes, stuffing them
      The Washington Post Writers Group  -  712 words
    • 82 10 'How many Americans have to lose their jobs before George Bush loses his?' -Dick Gephardt US presidential hopeful, questioning President George W Bush's economic policy. 'Don't let them come and scare us with threats of chaos and the seven plagues. We Argentines must believe in ourselves.' -Nestor
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    • 599 10 EDITORIAL IF US Treasury Secretary John Snow thought he could escape the wrath of domestic business constituencies simply by making token representations to China about the value of the yuan, he was wrong. The issue is not going to go away, and not only because a bipartisan
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    • 1265 10  - Creative accounting spotting it in accounts Identifying such practices requires close scrutiny and awareness of the context and pressures firms operate under By Penelope Phoon-Cohen NEARLY two years on, the spectacular collapses at Enron and World Com are still causing the international business community to engage in a mixture of
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    • 317 10  -  MAIL bag Yeo Siew Liang Corporate Communications Department for CEO, Building and Construction Authority WE refer to June Hoo's letter, "Why relief for construction sector?" (Mailbag, Sept 5). The construction sector plays an important role in our nation-building by providing vital infrastructure for all economic
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    • 327 10  -  Narayana Narayana, Singapore IT is difficult to argue with the logic behind Leong Sze Hian's letter "Embrace financial planning now" (Mailbag, Sept 1) and his exhortation to Singaporeans. But he clearly recognises the need to change their "mindset" in the wake of changes to
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  • REGIONAL news
    • 596 11 TAIPEI Better demand from US, Europe drive sales but price pressures remain Reuters TAIWAN'S tech hardware makers posted mostly strong August revenues as demand from the United States improved, but analysts say profit margins are lagging even as aggressive price cuts have
      Reuters; FILE PHOTO  -  596 words
    • 276 11 JAKARTA Fall of 60% to US$350m from August last year Bloomberg INDONESIA'S overseas investment approvals fell 60 per cent to US$35O million in August from US$B7B million in the same month last year, government figures showed. In the eight months to August 31,
      Bloomberg  -  276 words
    • 330 11 MANILA Reuters PHILIPPINE oil companies are likely to buy more of their crude from Russia in a move to broaden the country's sources away from Middle East suppliers, Energy Secretary Vincent Perez said yesterday. Manila struck a deal to import Russian
      Reuters  -  330 words
    • NOTEBook
      • 112 11 Reuters [MANILA] Moves by Philippine authorities to stop local investors buying US dollars were not a form of capital control, the central bank said yesterday, but analysts said the measure was aimed at propping up the flagging peso. One day after announcing restrictions
        Reuters  -  112 words
      • 103 11 Reuters [KUALA LUMPUR] Malaysia will not announce a corporate tax cut in the 2004 Budget to be announced on Friday by Prime Minister and Finance Minister Mahathir Mohamad, a government source said. Several investment houses had speculated that the government would lower corporate tax
        Reuters  -  103 words
      • 62 11 [JAKARTA] An Indonesian court sentenced a second man to death for his role in organising last October's Bali nightclub bombings that killed 202 people. Imam Samudra, 33, was found guilty of playing a role in planning the bombing, organising funding for the plan and with
        62 words
      • 88 11 Bloomberg [KUALA LUMPUR] Bumi Highway Sdn and two other companies signed a preliminary agreement to build a toll road in Sri Lanka for US$2BO million, the first highway contract won by a Malaysian group in the country. The Construction Industry Development Board of Malaysia
        Bloomberg  -  88 words
      • 81 11 AFP [KUALA LUMPUR] Lawyers and accountants who provide financial services for terrorists could face the death penalty under proposed new legislation in Malaysia, local media reported yesterday. Amendments to the penal code submitted to Parliament on Tuesday aim to punish not only terrorists but those
        AFP  -  81 words
      • 135 11 Bloomberg Reuters [SHANGHAI] US retail giant Wal-Mart Stores, the subject of a spate of lawsuits at home, is running afoul of China's biggest labour body over demands for union representation, sources said yesterday. Wal-Mart is resisting pressure to cough up an estimated extra 2 per cent
        Bloomberg; Reuters  -  135 words
    • 457 12 BEIJING This is expected to drive economic growth to 8-9% in the third quarter Reuters CHINESE factories powered ahead in August, churning out more cars, cellphones and electronics to feed an insatiable export engine amid growing fears of an overheating economy. Industrial output
      Reuters; AFP  -  457 words
    • 345 12 HONG KONG Reuters A REAL estate firm controlled by the Chinese government is interested in buying empty government subsidised flats in Hong Kong, a move which could boost the battered property market and take pressure off the city's Beijing-backed leader. China National
      Reuters  -  345 words
    • 128 12 BEIJING Reuters CHINESE state banks are pushing for approval of reforms and fresh bailout money to pave the way for share offerings ahead of an expected influx of foreign competition, bank officials and the media said yesterday. The Big Four state banks Bank
      Reuters  -  128 words
    • 495 12 WASHINGTON AFP CHINA should boost the yuan's value by 20 to 25 per cent in a single shot, a top analyst said on Tuesday as US lawmakers pressed for punishing tariffs to get Beijing to act. Discontent is growing in Washington over
      AFP  -  495 words
  • Article, Illustration
    1062 11 Transaction date: Sep 10 nrTHKBAMK CROSS KATBS AS Cj f> Urt w Wb -pMi Van Won 1 B$ N>H Mi St —d Sfr Wf >0* 9m4 IBS Austrdw 0.901 5.463 0.587 5.135 30.121 55.532 0.769 7.703 2.502 1.127 38.039 36.183 1.152 4.933 0.909 22.443 26.597 0.4B Canada 1.110 6.065
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  • Page 11 Advertisements
    • 118 11 Our qualMad professionals can assist you with offshora structures, shall companies and incorporations in ALL O* British Virgin Islands Cayman Islands Z* Bahamas Mauritius Hongkong Samoa Full nominee, management, secretarial, banking and corporate administration services are available. We also specialize in offshore trusts for assets protection estate planning. For further
      118 words

  • 1555 12 SICOM Sep 10 RUBBER Futures (dosing print) RSS1 (Scents/kg) Close VttaM Open NIbN Law Sett (towns) Interest 191.75 N®» 03 19L75 Dec 03 ***** Hnl*K 04 192.75 KS 3 (US ccntsAo) VokifM Ohm HUh Low Sett (tones) InteSst OcTM 109.00 108.00 iOTOO 2500 5200 Nov 03 106.75 108.00 109.00
    1,555 words

  • REGIONAL world
    • 793 13  -  COMMENTARY From Anthony Rowley in Tokyo Sometimes it pays to "go with the flow," even when logic points in another direction, and the sheer flow of money into the Tokyo stock market at present is certainly hard to resist. It has driven the benchmark Nikkei
      793 words
    • 486 13 NEW YORK Families of Sept 11 victims can sue airlines, WTC: judge Bloomberg AFP CHUBB Corp and Zurich Financial Services are among the insurers suing Osama bin Laden, Al-Qaeda and the governments of Syria, Iran, Saudi Arabia and Iraq for as much as US$3OO
      Bloomberg; AFP  -  486 words
    • 377 13  -  It sees country as engine for regional, global growth From Shada Islam in Brussels THE European Commission yesterday issued an upbeat report on China's rising global and regional clout and said it expected Beijing to become a "constructive and responsible" player in the
      377 words
  • 4622 13 Transaction date: Sep 10 H HONG KONG v«< hkrum 2.0s -0.15 9093 "O Hong Kong Electric 30.80 0.10 6167 Ai^r—_ Hongkong Chinese 0.91 -0.01 2139 "J "I 272 Hongkong Chinese Ltd 0.91 -0.01 2139 7™**90°r."- -J-91 0 Hopewell Holdings 9 40 -0.15 3668 i* iI5 4 2 °f
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  • Page 13 Advertisements
    • 128 13 IN THE MATTER OF UTO SURYA MARINE PTE LTD (In membM-i' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act. (Chapter 50) that the Final Meeting of the Members of the above named Company will be held at 371 Beach Road
      128 words
    • 351 13 IN THE MATTER OF THE COMPANIES ACT, CHAPTER SO HP HEALTH HOLDINGS PRIVATE LIMITED MEMBERS' VOLUNTARY LIQUIDATION At an Extraordinary General Meeting ot the Company deemed to be held at 178 Clemenceau Avenue #08-00 Haw Par Glass Tower, Singapore *****6 on 8 September 2003. the following resolutions were duly passed
      351 words

  • WORLD news
    • 437 14 WASHINGTON Consumer spending will power GDP growth to 4.5% this quarter, it says Bloomberg THE US economy will grow 2.6 per cent this year, underpinned by a burst of spending in the current quarter, a private survey of economists showed.
      Bloomberg  -  437 words
    • 575 14 WASHINGTON AFP THE global economy will defy grim predictions by bouncing back in the next 12 to 18 months, led by resurgent US and Asian economies, top international economists forecast. The bullish outlook is menaced, however, by the threat of
      AFP  -  575 words
    • 409 14 WASHINGTON Board member Bernanke named to serve fall term AP PRESIDENT George W Bush, who has indicated he wants Alan Greenspan to stay on as Federal Reserve chairman, has decided he wants vice chairman Roger Ferguson to serve another term as well,
      AP  -  409 words
    • WORLDWatch
      • 91 14 AP [BUENOS AIRES] Argentina defaulted on a US$2.9 billion loan owed to the International Monetary Fund, complicating efforts to restore its standing with the international financial community. Tuesday's missed deadline was the second time this year the nation failed to make a payment to a
        AP  -  91 words
      • 110 14 AFP [WASHINGTON] The leadership of the Al-Qaeda terror network is facing the "growing risk of breaking apart", but the group continues to pose a threat, the US Central Intelligence Agency has warned. The assessment was contained in an unclassified brief the CIA gave Deputy
        AFP  -  110 words
      • 74 14 Reuters [WASHINGTON] Edward Teller, a pioneer in molecular physics dubbed the "father of the H-bomb", died on Tuesday, the Hoover Institution said. Teller lived on the Stanford University campus. A naturalised US citizen born in Hungary, Teller was a key member of a group of
        Reuters  -  74 words
      • 105 14 AFP [PARIS] Credit Lyonnais, in the final stages of putting the disaster in the 1990s behind it, boosted profits sharply in the first half and is to lose the chairman who has piloted it back to health. The bank yesterday announced that net profits
        AFP  -  105 words
    • 505 15 NEW YORK The money, unknown to some NYSE board members, disclosed while discussing his US$140m pay Bloomberg AS directors of the New York Stock Exchange joined a conference call on Tuesday morning to discuss the US$l4O million pay of chairman Richard Grasso,
      Bloomberg; REUTERS  -  505 words
  • 2433 14 Transaction date:Sep 10 KUALA LUMPUR GeneralCorp 052 unch 139 Vol George Kent .aSO 0.01 167 Ml w- rooo) Genting 14.80 -0.20 2S23 Golden Frontier 0.84 -0.04 19 A AM Realty .0.90 -0.02 42 Grand Hoover 1.42 -0.03 30 Abric .0.93 001 170 Gkxnac Bhd 330 -0.05 424 ACP industries
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  • 729 14 Transaction date:Sep 10 J 1 MO M71 OOOS NrtM9k 8« tM 4H CK OM <700 II» OCK ISt «W «>00 CjptffejrW III YJM «<Q0 OUi Oil in 4U0 Ottrt fcmCcnd 3k )J3 UJO N»c 041 tm >«C2C i® 5M» -0100 Paqpt'i Food MKSBt OJt UBS CwMDwiJSt in am tocco
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  • 561 14 BONDS WARRANTS T4 Lai Vat CM* Ear 'cmk Sw-'SS ft* Ciapwi Ida ««r- PM8> Hfaa kg UK 36» A5T1W*****1 M 1 16 240 9 3697 Acma Ltd W*****6 1 unch 12 1 SO 410 10 00 14 3(02 A/ntefc \M*****0 104 -t 219 1 33 132 21 *03 Armstrong W*****0
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  • 6173 15 Transaction date: Sep 10 for live prices, log on to u v u y u\asiaonemarkets£om L«« Vo4 Day La*t Quote GfWv M* GrVU Net MCap N» I— (aim Como—i Sal, COM! Hi# m» 8»yr s+m Cw m $3 5300 ABNAmroNLG S6c 9 12 34 1388 19.5 0.1 1500
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  • 69 15 J* J* _P«y M4M Mb OK GrVU MM MCm wy I— C«jt rnmfim, Ml W- f| W#i I—i »wyr Sdhr Cw W1 v3i 9600 89 6065 Dumondl USS780 3750 2700 6095 ISOJU5Tcch US3740cd 6097 KMSOSpac US5SS 8270 8200 6)01 ISSAPSOO USI270cd 9650 8280 6170 STOW USKSO I 1660
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  • 337 15 B-W M KM VM Day LaMQ—M fifttr H* CrVM MM MCm W» lam Cadi Cii—) gfc W- rwm M* taw Ifar Sdhr CVr HI S«J ttl II 6000 AVJcnnangi A25c A1S4 SC 154 1S3 1S4 155 40 3.4 6.5 9 131.4 6001 C«ha»Pac20c HK720 265 2.1 7.4 6
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  • Page 15 Miscellaneous
    • 210 15 CRYPTIC CROSSWORD 26 Think of Paddington? 7 Children's publication (5) YESTERDAY'S SOLUTION (4,2,4) 8 Clergyman returned with re- Actom: 1 Bourbon, 5 Clanger, 27 Denims go to pieces? Just a bate broken bones (9) g Easel 10 Run-around 11 bit (8) 14 Jealous, Othello went up to Toothpaste, 12 Stir,
      210 words

  • BizIT
    • 597 16  -  Grid computing initiative likely to take off faster in Asia-Pac From Raju Chellam in San Francisco US SOFTWARE giant Oracle Corp yesterday unveiled its newest "grid computing" initiative to help companies link their software applications in a network of low-cost computers and save millions of
      597 words
    • 695 16  -  IT comment INFOTECH kenneth james THEY came in their hundreds of thousands to Comex 2003; and bless them, they bought and bought. Comex, the premier local consumer IT show, ended its fourday run last Sunday evening an unqualified success. The numbers told
      695 words
  • Page 16 Advertisements
    • 134 16 V .J MWBi^MgJwfBISWBI^MHB^^^WWS^M., .^H ■tfl M B* jl 'V s nice to know your ones are safe at home. Wherever you are, you can monitor your home even remotely control home services are making this a reality. Just one more example of «*»*"*•<*•■* appliances, temperatures and security devices. And in
      134 words

  • SHIPPING TIMES
    • 254 17 Reuters The Baltic Dry Index rose 7 points to 2327, the Baltic Capesize Index rose 18 points to 3325, the Baltic Panamax Index rose 2 points to 2127 and the Baltic Handymax Index rose 12 points to *****. xuus-GHABIER: Gargantua (built 1983) *****6 dwt delivery Taranto 10/14 September
      Reuters  -  254 words
    • 266 17 SGX '000 SS W Vol CWT Distribution 0.56 unch 19 —AM unch 2963 CH Offshore 0.37 0.02 4576 Coco Investment —.0.48 0.01 ***** Freight links .0.07 -001 IS G8 Holdings 0.70 -0.02 60 Jaya Holdings 0.61 0.03 ***** KappeiCorp _5J0 -0.15 2456 K1 Venture 022 unch 2466 MppelTete.
      266 words
    • 445 17  -  Half to be used to translate ideas into commercially viable products By Donald Urquhart [SINGAPORE] The Maritime and Port Authority (MPA) of Singapore unveiled its roadmap for maritime technology R&D yesterday, underpinned by a $100 million catalyst fund to be spread over 10
      445 words
    • 326 17  -  Manila office will serve the East Asian sub-region By Donald Urquhart [SINGAPORE] The International Maritime Organisation (IMO) opened its first Asian office with the inauguration of the IMO Regional Presence Office in Manila yesterday. The regional office for the East Asian sub-region follows those opened
      326 words
    • PORTShots
      • 46 17 [LONDON] Britain's biggest port operator Associated British Ports Holdings reported a better-than-expected one per cent drop in Hi pre-tax profit before goodwill, amortisation and exceptional items to £66.6 million (*****.48 million). It said existing contracts would provide growth.
        46 words
      • 60 17 Bloomberg [SEOUL] South Korean shipbuilder Hanjin Heavy Industries Construction Co won an order to build four container ships for 225.1 billion won (Ss34o million) from Rickmers Reederei GmbH of Germany. Hanjin Heavy will build four 5,060-TEU container ships, it said in a Korea Stock Exchange
        Bloomberg  -  60 words
      • 67 17 Reuters [BRUSSELS] Denmark, Germany, Sweden and the European Commission last Wednesday raided Nordic ferry operators suspected of operating cartels, the Commission announced. "The purpose of these inspections is to ascertain whether there is evidence of suspected market sharing agreements and related illegal practices aimed at foreclosing
        Reuters  -  67 words
      • 49 17 Bloomberg [SEOUL] Daewoo Shipbuilding Marine Engineering Co said it won an order to build one liquefied natural gas ship for Kristen Navigation Inc of Greece for US$l5l million. The 145,700-cubic-metre LNG vessel will be delivered by the end 0f2005, Daewoo Shipbuilding said. Bloomberg
        Bloomberg  -  49 words
    • 391 17 It will upgrade fleet by adding 49 new ships over the next 10 years Bloomberg [TAIPEI] Evergreen Group, the world's fourth-largest shipping company by container capacity, plans to spend almost US$3 billion in the next 10 years to expand and upgrade its fleet to take advantage
      Bloomberg; FILE PHOTO  -  391 words
    • 265 17 AP [BRUSSELS] Most of a North Sea oil slick from the sunken cargo ship Tricolor has disappeared, reducing the threat of pollution to the Belgian and Dutch coastline for now, maritime officials said on Tuesday. "Much of the oil stain is gone," said Sigrid Maebe,
      AP; REUTERS  -  265 words
    • SHIPPING news
      • 941 18  -  As standards improve, more seafarers will serve the global shipping industry in future, says Li Shan Min Li Shan Min THERE are 464,500 Chinese seafarers including ocean-going, near sea-going and river-trade seafarers. Among these, 431,775 are employed by domestic shipping companies and 32,725, by
        FILE PHOTO  -  941 words
      • 128 18 PAG BSA i B'tang Mas C CMACGM 3 COSCO 3 Columbus 5 China Shpg 5 CWT Globelink 4 Delmas 4 Dongnama 3 ECt 3 Far Shpg 5 Foong Sun 5 Gemartrans A Hamburg Sud 5 >E Hangli 4 Heung-A 3 4 IRISL 5 6 Kapal Kris 4
        128 words
    • 8790 22 thebusinesstimes EXPORT F\_ *"•«•T...phoo, ETA ETA Adv.rt.Mr V„s* Voy«« SIN Dest'n Name Nam* Number Number To ABIDJAN (ABJ) 2003 Cot* D' I voir* 19/09 09/11 CMACGM CONTI SHANGHAI 337-49 65-*****800 M/01 M/W Delmes ELISA DCLMAS 345W 65-*****344 23/09 09/11 CMA CGM CMC PEARL 312E 45-*****(00 23/09 U/11 COSCO
      8,790 words
    • SHIPS IN PORT
      • 647 23 Vessel Voy Wo Berth Arrival Departure JURONG PORT/MULTI-PURPOSE TERMINAL KENKOKU UC148 J23 A/SIDE 11/09 1800 M CHIANGMAI 15 J9 A/SIDE 11/09 1800 SUNVAZS 12/2003 J15 A/SIDE 11/09 2000 ADVANCE PESC 8 J4/5 11/09 1020 12/09 0600 BAYSWATER118 M3209 J3 11/09 0900 11/09 1700 BAYSWATER228 E3209 J3 11/09 1830
        647 words
      • 1900 23 CONTAINERS TERMINAL AND VESSEL SCHEDULES Vessel Out In Bth Berthing Un- Berth Name Voy Voy seq berthing Nmbr ACX MARIGOLD 004S 004S J *****003 1500 **********00 ACX SAKURA 021N 021N 1 13/*****3 1500 **********00 AL MUTANABBI C259W C259W 1 14/09/2003 12 00 1******3 23:59 ALNOOF C251E C2S1E 1
        1,900 words
      • 532 23 Carton 180 Mo 994.8 0.4 M.I 0.07 31 0.06 Sep 4 Density Water Residue AshAlumlnium Sediment Mo above E25 1 0 0 0 0 0 380 Ave 985.6 0.2 t3.2 0 05 29 0.01 Emm 380 Mi 992.6 0.5 16.4 0.11 164 0.05 A6/M-3 M/M *M/»
        532 words
      • 138 23 Sep 11 Brazil: Independence Day. South Korea: Harvest Fest Day. Taiwan: Mid-Autumn Festival. Sep 12 Hong Kong: Day after Mid-Au tumn. Sep IS Japan: Respect-for-the-Aged. Sep 23 Japan: Autumnal Equinox Day. Sep 24 Brunei: Lailat al Mi'raj. Indonesia: Lailat al Mi'raj. Sep 28 Taiwan: Teachers Day. Oct 1
        138 words
      • 797 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
        797 words
    • AIR & LAND transport
      • 459 24 Demand for premium travel at'all-time low' Bloomberg [LONDON] British Airways Pic chief executive officer Rod Eddington said a recovery in the airline industry is "some way off" as European economies struggle to pull out of recession and concerns over terrorism deter people
        Bloomberg  -  459 words
      • 465 24 IMPROVING AVIATION LIMES WITH CHINA It may soon fly two or three times a week between New Delhi and Shanghai Bloomberg [SINGAPORE] Air India Ltd, the nation's biggest overseas carrier, is planning its first regular flights to China to tap increasing trade and investment as
        Bloomberg; FILE PHOTO  -  465 words
      • 220 24 AP [TAIPEI] Taiwan's government proposed a plan yesterday to start regular cargo flights to and from China later this month, but restrictions make it unlikely that the plan will win Beijing's approval. Tsai Ing-wen, head of the Mainland Affairs Council, said indirect cargo flights
        AP  -  220 words
      • LOGBook
        • 88 24 AFP [BANGKOK] Privately-owned Thai airline PB Air will launch three return flights per week from Bangkok to the ancient Myanmar city of Bagan, airline spokeswoman Waraporn Srisatjakul said on Tuesday. "We will operate three flights a week and our inaugural flight will
          AFP  -  88 words
        • 107 24 Reuters (STOCKHOLM] Scandinavian air carrier SAS will test fingerprint and eye scan identification of passengers, the group's Scandinavian Airlines unit said yesterday. Scandinavian Airlines said it would test using biometry, or technology that can read a person's unique features, at two airports starting from November.
          Reuters  -  107 words
      • 361 24 Reuters (FRANKFURT] The head of Frankfurt airport operator Fraport said on Tuesday he expected a planned new runway at continental Europe's largest airport to be ready in early 2007. The airport company submitted a truckload of documents for the runway's
        Reuters  -  361 words
      • 167 24 AFP [FRANKFURT] German airline Lufthansa said on Tuesday that its passenger numbers remained more or less stable in August as rising demand on routes to the Americas, the Middle East and Africa partially offset sluggish demand in Europe and the Far East. Lufthansa said that a
        AFP  -  167 words
      • 353 24 Bloomberg [MUNICH] KLM Royal Dutch Airlines NV, Europe's fourth-largest airline, said it might conclude a commercial alliance, including a share swap, with Air France SA within the next three weeks as negotiations advance. "We're at an advanced stage of talks," said Bart Koster, a spokesman
        Bloomberg  -  353 words
      • 1757 24 AMI* 8*7382 2215 rmn «H 1 Fr«Mwt IM9762 063$ IK9765 12 JO Amttritm KU37 1455 GA974 0130 $025 0635 ***** 1230 KL638 2255 LH9764 VMS 1*7305 2250 <fl>4 >vw ***** 1445 0f5 2250 uui aw LMTTS 1555 LH779 2305 taclM EM05 0W0 EMM 1520 ""2 2305
        1,757 words
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  • Page 18 Advertisements
    • 607 18 MiTiillilTllll I IMPORT I I NORTH AMERICA AUSTRALIA/NEW ZEALAND SHUTTLE EXHttSS (BSX) (AUSTRALIA ASU EXPRESS (AAX) 5!! vtssa vot one syp mb un m s»"l no PtO NEDUOYD STUYYESANT 03/ M «Z nZ M/W KO NEDUOYD HOUTMAN 14*34 10/09 20/09 30/ M NEDUOYD ADEUJDE 6M OMIT 00/09 10/09 12/09 H/09
      607 words
    • 434 18 Unas services represented by Memberaoflhe Registry of Members oftw Accredited Shipping Agents, "Sr Sin 9 a P ore lo 9 istics Singapore Shipping Association Association ULY UNE MALE ■■■■■■■^■1 nrasa voy eu in in A P.KUH6 SPOtE MU Princess Lily 0903 15/09 17/09 26/09 Mold Star 542 A 23/09 25/09
      434 words

  • Page 19 Advertisements
    • 929 19 TO USA (SAX SERVICE) TO** VOY SIN ETA LAX OAK PAL HOU I CHI I COl I MOW Ml HTC API CANADA DM <7/09 02/10 06/10 07/10 07/10 07/10 07/10 07/10 10/10 10/10 .API SCOTLAND 12QC 24/09 10/10 13/10 14/10 14/10 14/10 14/10 14/10 17/10 17/10 APItfIGIUM 1111 01/10 16/10
      929 words
    • 1595 19 'SPMUBOMSaVKimi SIN6APOM TO BUCK SU VM POtT Mlf OOCSfA (WOtANK) |9 MTS mwm im til *4»SIS7/« ml I MIWS SOSTARSHIWNG Wl LTD H7M "> SSm/w I CONSIAMTZA(ROMANIA) 23DATS CI NO: **********0* nL *7741«W (MAM) MWUtD (0/0) *****704 *****U9/49 I M WMJ jOHOt-c mwj. T/SMMOff M TtSllS 421*5314/44 I ttUHMI.. WULI;-iuib
      1,595 words
    • 469 19 HSfSaniui I JSi 1.0 l I .lit 1I wrTarjsM; JKT SS —Isff \,/l IK S2 l£ iff jBEK 3i«s n/> rua i77r~ —M 2!! Il?ff I ?y* K m 2/10 mmm iits 120/9 I 22/9 24/^ HUNSA IHUM I MO7? 12t/f 11/10 12/10 17/10 I t/10 I ***** l HTI
      469 words

  • Page 20 Advertisements
    • 508 20 ®nci MAC EMQWRMMOOKIHOS: ******44 FAX: *****433 EMAIL: MWIMMUMU| OOCUMCNTATIOHS/OygmTIONS: *****637 FAX: *****177 NUWCMIfIUMUH HJU CONTMMI SBVKIIO NBT tfVKA «4i BJtOPI iy» 1 y° Y I I wwrnAwc uhaym iwuuui mum comntr 1 H>wdwG«—d 344W 15/09 14/09 01/10 13/10 [3710 73/10 ttpwda 314W 77/09 23 09 Qj/10 20/10 73/10 73/10 Nyimda
      508 words
    • 428 20 WX WAN HAI LINES V 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 detail*, emll HOTLIMEs *****588/1800-*****00 H2SS Munrtiss \m sub sua <57w "99/99 !S* IJ/M 14/99 17/99
      428 words
    • 556 20 BSA MYANMA SB FIVE STAR UNE (MyaNMr NitiMd UM) LoodiMf fir Ym|m VKStI VOY SIN PU PBI PGU PAGAN 306W SU> MPA-AM 307W SU> IN BALAYSIA: IOUSTUD SHINING AGf NCIES lUL- 03-*****300 PtL 03-3174*101 PIN: 04-*****02 BANK LINE *«rvk« I WOKTHiOUNP TO EUHOPE V COHTAMOt, ROM, NUK 4 HUVYIVTS VBSII
      556 words

  • Page 21 Advertisements
    • 1295 21 IVISSIL VOY KHH HKO SIN PKL PXB BAB DOOM mT~| SI MA TOUBA PCL 8004 SKIP SKIP 17/09 16/09 27/09 21/09 06/10 08/10 CAPf FRIO PCL 8005 SKIP SKIP 20/09 21/09 30/09 01/10 08/10 10/10 HUN KERMAN PCL 330 23/09 24/09 27/09 28/09 03/10 06/10 13/10 15/10 IRAN ISFAHAN PCL
      1,295 words
    • 541 21 A UK CONTINENT SERVICE Loading for THOfl LOTUS RTM/ATW/BMNAJK/NAN AFTCHIMEDES RTM/ATW/BMNAJK/NAN Loads Singapore, EVW. Malayaa. Ifxtoneaa MIDDLE-EAST SERVICE Loading for PANORMOS PRIDE DBl/ABU/DOH/BRN/DMM/KWT REGINA V HDD/JDH/AQA FIVOS D 81/ A BU /DOH/BRN/DM M/KWT 'Loads Singapore. E7W. Mataysia. Indonesa USA SERVICE Loading for GIORGOS CAM/NFK/SAV/NOL NENA J VCW/LAX/MZL 'Loads E7W. Malaysia.
      541 words
    • 814 21 -ffia m m mw "St" 1 11 mMMM !0J« 11ZS! M/ 09 _EALHllfl ttll IIZU_IJSBZI m*»m 1515* u/oo is/w -ticiduj liii —i«/g— PKIAMOA 10MM 14/0? 14/09 PAt BMTAII J2IJ 71/W VUM WMMpA IfiJZS U/W 10/00 PACSWI IQH 25/09 ami \ma uzst iw PA(»AHO4 1039W 70/09 21/ M PAC lAMPA 1040W
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  • Page 23 Miscellaneous
    • 112 23 aaaaaga^Bßg Issued by Meteorological Service Division.NEA LEGEND: Thunderstorm Wind speed symbols Showers Full circle w/o line indicates calm or light and variable winds Rain One half fleche represents 5 knots Cloudy Day One full fleche represents 10 knots x Hazy A -One solid triangle represents 50 knots D Centre of
      112 words