The Business Times, 24 October 2003

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Total Pages: 28
1 28 The Business Times
  • 15 1 MfTA (P) 024/03/2003 85 THE BUSINESS TIMES SINGAPORE Internet: http://business-times.asial .com.sg FRIDAY, OCTOBER 24, 2003
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  • 612 1  -  Underweight calls by Morgan Stanley, CSFB fuel hefty STI loss By R Sivanithy [SINGAPORE] A series of US profit warnings on Wednesday triggered a wave of selling throughout the region yesterday, sending Japanese stocks plunging 5 per cent, Hong Kong stocks
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  • 72 1 Dsn 1,732.96 (-38.30) ST INDEX FUTURES 1,730.00 (-53.00) SIMSCI FUTURES ***** (-6.30) Thursday Change KLSECOMP 804.43 -0.68 NIKKEI 225 10.335.16 554.46 HANG SENG __1 1,737.18 -501.45 SET INDEX 604.77 +11.75 JAKARTA (X)MP .***** 15.17 MANILA COMP .1.364.44 18.30 TAIPEI WPI 5.***** -8963 SEOUL COMP 754.14 -25.14 SHENZHEN B 254,19
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  • 78 1 FOREX RATES US$ s$ I'SS |S$perl'SS) 1.742 K(I SS/SS per S) 1 m 2.949 KlR()(rSS/SS/K) 1.182 2.1(59 YEN 1(19.6 6190 KM 3.H00 2.181 HKS 7.753 4.450 BAHT 93 22.92 Rl PIAH 8,478 4.866 RENMINBI 8.298 4.763 INDIAN Rl PEE 45.33 261(2 AS 1425- ..<(.818 NZS 1.644 0944 PRIME RATES
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  • 868 1  -  NATSTEEL SAGA But it is considering a 1% cap on termination fees By Serena Ng [SINGAPORE] The Securities Industry Council (SIC) yesterday said short-sellers and scrip lenders were not responsible for the success of 98 Holdings' takeover offer for Nat Steel earlier
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  • 569 1  -  Welsh veteran to set up S'pore team based in Wales By Vincent Wee ISINGAPORE] Good memories and good opportunities are what have brought mul-tiple-world champion Jonathan Jones back to Singapore. Even after 12 years he remains charmed by the city and its world-class
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    • 436 2  -  Rising yen fuels fears that Japan's export-led recovery may unravel, say analysts From Anthony Rowley mlokyo TOKYO'S Nikkei 225 stock average plunged by a sickening 5 per cent yesterday its steepest oneday drop since the events of Sept 11, 2001 hit by the
      Source: Bloomberg  -  436 words
    • 722 2  -  But interest rates could rise and hurt some economies By Loh Hui Yin [SINGAPORE] The world economy has turned the corner and economic activity is expected to pick up "quite solidly" in the next 12 months, says the International Monetary Fund. "Compared with where
      722 words
    • 525 2  -  Venture interested in just running railway operations From Eddie Toh in Kuala Lumpur SYED Mokhtar Al Bukhary and partner Gamuda plan to pump RMI billion (***** million) into Keretapi Tanah Melayu and have offered to return the national railway company's
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    • 61 2 IN the report "Sing Tel launches new data service" (BT, Oct 22), we said that Meg@iPOP provides a virtual private network (VPN) making use of the public Internet for secure private network traffic. That is incorrect. While most VPN services use the Internet, SingTel's Meg@POP uses it's own private
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  • Page 2 Advertisements
    • 1238 2 |mch Limited (Incorporated in the Republic of Singepocel Notice of Annual General Meeting NOTICE IS HEREBY GIVEN thot the FOURTEENTH ANNUAI GENERAI MEETING of ihe Compony will be held ot The Board Room, 390 Jalon Ahmod Ibrahim, Singapore *****5 on Wednesday, 12 November 2003 at 10 00 am to transact
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    • 87 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: SimormeToh T: +65 6535 3382 F: +65 6535 3991 E singapore@ocra.com.sg
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    • 10 2 Krrimmi aide raps BO Jforfailing to stop deflation, Pg 14
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  • Page 3 Advertisements
    • 469 3 ADVERTISEMENT New neighbours add value to Goldenhill yet prices remain unchanged. i Rental and property values on the rise as new Lorong Chuan additions, Australian International School and planned MRT station, bring tremendous appeal ,o the location. scbool A EHg| many non-Singaporean families. #-r H Many astute homebuyers have 1
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  • TRACKING THE BULL
    • 699 4  -  Compared to other markets in the region, it remains a high-quality, underowned laggard By R. Sivanithy WHEN the Straits Times Index sank to 1,213.82 on March 10, few could have foreseen the heights to which it would rise a short while later. It
      Artwork: Ben Cruz  -  699 words
    • 1096 5  -  It's time to pocket some gains while putting money into stocks that are likely to ride a macro recovery, says Wong Wei Kong Wong Wei Kong YESTERDAY'S correction, with the Straits Times Index losing 2 per cent, serves as a reminder that the market
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    • 497 6  -  MARINE It may be better to wait for a pullback before investing By Kenneth Lim THE marine industry has been riding on a wave of strong demand for offshore services and higher freight rates for about a year. But for a latecomer
      Source: Bloomberg  -  497 words
    • 702 6  -  SERVICES HTL, SingTel, F&N are among counters mentioned by analysts By Teh Hooi Ling SERVICES and consumer stocks are not generally thought to be glamorous. When it comes to hot picks, it's usually technology, banks and manufacturing companies that dominate.
      702 words
    • 486 6  -  CHINA PLAYS By Joyce Koh "IF I have the money and I want to make more money fast, I would put it in China plays." This was just one upbeat sentiment from a broker who pointed to China's strong
      486 words
    • 69 6 Pick of the China-focused companies OTO I 1ST DAY CUWCffT J PWC6- 1 lltrr C0MPAME3 CIOSIM6 PRICE EARMMGS (S) PRICE® (S) j <*> RATIO nwl CMm Aviation Oil 0-56 0.52 1.16 107.1 16.57 Dec6,X)1 (Him inti 0.52 0.47 1.17 1254) 24.79 Aug 1,00 tingpu Chtwicato 0.42 0.54 0.65
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    • 276 6  -  CONGLOMERATES By Wong Wei Kong AMONG conglomerates, Keppel Corp remains the pick of most analysts, followed by ST Engineering (STE), with SembCorp Industries least favoured. Calling KepCorp a "core holding", Smith Barney said it is a world-class player in rig upgrading and building, and
      276 words
    • 425 6  -  FINANCE By Joyoe Koh DBS Bank has emerged as a clear choice for many analysts contacted by BT. The top reason is that the bank is the most highly leveraged of the three local banks, and many say that DBS is likely
      Source: Bloomberg  -  425 words
    • 489 6  -  TECHNOLOGY Outsourcing trend may not benefit all companies By Kenneth Lim STRONG retail sales figures from the US suggest that Singapore's technology and electronics-related companies are looking at strong numbers in the short term, analysts say, but investors should also look at
      Source: Bloomberg  -  489 words
    • 503 7  -  PROPERTY Property stocks have gained of late though analysts don't find evidence of a recovery yet By Andrea Tan PROPERTY stocks have stirred in recent weeks and, despite yesterday's correction, the counters are still up substantially since September. Are property stocks still worth buying
      Source: Bloomberg  -  503 words
    • 539 7  -  AVIATION But worries about low-fare competitors remain By Ven Sreenivasan THE reinstatement of capacity by Singapore Airlines and signs that its northern winter schedule is returning to normal levels clearly indicate that the battered aviation industry is gradually regaining some of
      AFP  -  539 words
    • 442 7  -  TRANSPORT By R Sivanithy IF you were to ask the average stock market punter whether the local transport sector is exciting, chances are the answer would be no. Some might not even be able to name the sector's main players. As a
      442 words
    • 113 8 The surge in the Singapore bourse from the bottom of the market on March 10 has come almost full circle. Only a handful of companies didn't see a rise in their stock prices. Here we run the ranking of the gainers by percentage terms, together with their
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  • Page 5 Advertisements
    • 84 5 I UCLA-NUS EXECUTIVE MBA I YOU'VE READ BOOKS I I ON MANAGEMENT, I I NOW STUDY WITH THOSE I I WHO WRITE THEM. I Transform your future with a truly global perspective on leadership and management. Capitalize on the immense resources of two Pacific Rim powerhouse business schools in meeting
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  • SINGAPORE markets
    • Article, Illustration
      648 9  -  Compiled by BT QUAK NIANG WHAI Chartered Semi, Oct 23 $i.76 CHARTERED Semiconductor's Q3 results were slightly better than its earlier mid-quarter guidance. Revenue was U*****.7 million, up 8 per cent quarter on quarter versus mid-quarter guidance of +5-8 per cent. Net loss amounted to U5575.9 million or
      Source: Bloomberg  -  648 words
    • 326 9  -  HOT STOCK WARRANT By R Sivanithy BY all accounts, Malaysia is the place to be. CLSA Asia Pacific Markets, Goldman Sachs and now CS First Boston have all within the past two weeks issued strong upgrades on Malaysia. A variety
      Source: Bloomberg  -  326 words
    • 531 9  -  BT comment STOCKS r. sivanithy Confidence in local stocks took a big hit amid a major sell-off yesterday, but the mood among traders remains defiantly bullish. "A temporary setback", "a much-needed correction" and "the market will bounce back quickly" were some of the
      Source: Bloomberg  -  531 words
    • 616 9  -  BT comment CURRENCIES But Asian units falter after region's bourses skid even more sharply larry wee A SHARP Wall Street relapse overnight forced the US dollar to painful new multiyear lows yesterday, but most Asian units did not benefit after Japanese stocks
      Source: Reuters  -  616 words
    • TRADES TO WATCH
      • 107 9 TOMMIE Goh's 2G Capital has taken profit on another 510,000 shares in water treatment firm Hyflux, following sales done earlier this month. The 510,000 shares, which represented a 0.2 per cent stake, were sold on Oct 22 at $2,015 a share, or around $1.03 million.
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      • 112 9 QUEK Chek Lan, the executive chairman of troubled Sesdaq firm Startech Electronics, has sold virtually all his remaining shares held by his investment vehicle Aetna Pte Ltd. He sold 1.86 million shares, or a 1.88 per cent stake, on Oct 17 at 8.5 cents a share
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      • 114 9 IN its first share sale since Robinson and Company in mid-September announced plans to sell its retail operations, fund manager Aberdeen Asset Management Asia has unloaded a small portion of its shareholding in an open market sale. Aberdeen on Oct 22 sold 10,000 shares, or a
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      • 103 9  -  Compiled by BT SERENA NG BENI Prananto, a non-executive director of animated feature producer Colorland Animation, has had 3.01 million of his shares sold 3 million on Oct 22 at 10.25 cents a share and 10,000 on Oct 21 at 9.5 cents apiece. The sales
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    • Article, Illustration
      418 9 OTHER SINGAPORE INDICES Oct 23 VALUE CLOSE BT OB/OS 48.00 -*91.00 BT CADI -*****.00 -313.00 BT 10-day MA -*****.00 +4.00 All-SG Equities 477.09 966 SG Equities Elect 173.44 -4.65 SG Equities Fht 1505.96 02 SG Equities Prop 443.35 17.77 MSC1 Singapore 214.42 -4.98 SiMSCl Futures 214.40 Stock* Vol— Chart SemiCond
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  • SINGAPORE companies
    • 427 10  -  Shift of manufacturing out of the country may hurt Singapore, says Gartner By Raju Chellam SINGAPORE'S consumption of semiconductor chips is set to grow the slowest among the top five Asian markets because of the shift of low-end electronics equipment production out of the
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    • 569 10  -  Q3 net loss slightly lower than market expectations By Tang Weng Fai CHARTERED Semiconductor Manufacturing which narrowly beat analysts' expectations with a U5575.9 million Q3 net loss yesterday forecast halving its Q4 net loss to US$45 55 million from US$lOB.7 million in the
      Source: Bloomberg  -  569 words
    • COMPANY Briefs
      • 106 10 IN an upbeat assessment that could mean higher earnings in 2004 for banks, DBS Group Holdings' chief executive Jackson Tai said demand for credit will improve as Singapore's economy emerges from a slump. Dow Jones quoted Mr Tai as saying: "You'll see that credit
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      • 82 10 ELECTRONICS group Flextech Holdings and its semiconductor services associate Asti Holdings have both appointed Michael Loh as non-executive director and chairman. The 48-year-old, who resides in Hong Kong, replaces Au Sai Chuen in both companies. Mr Au, who stays as executive director, is appointed deputy
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      • 68 10 SINGAPORE Technologies Engineering said it is acquiring—through Vision Technologies Kinetics (VTK) US defence firm Miltope Group Inc. The total consideration is US$37 million. Miltope is listed on the Nasdaq Small Cap market. The transaction is expected to close in three months. Miltope designs and
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      • 68 10 SINGAPORE Petroleum Company posted net profits of $12.1 million for the third quarter ended September, reversing a $2.2 million loss for the year-ago quarter, helped by a 13.9 per cent increase In turnover to $751 million, a recovery in refining margins and a jump in
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      • 47 10 KEPPEL Telecommunications Transportation Ltd yesterday reported a $5.3 million profit for Q3, up 48.8 per cent from $3.54 million in the year-ago period. Turnover fell 35 per cent to $54 million from a restated $83 million in Q3 last year.
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  • Page 10 Advertisements
    • 132 10 This announcement appears as a matter of record only October 2003 CIiXD KXD DIGITAL ENTERTAINMENT LIMITED (Incorporated in Singapore on 30 January 2003) Invitation in respect of 160,000,000 ordinary shares of 550.045 each comprising:(1) 7,500,000 Offer Shares at 550.23 for each Offer Share by way of public offer; and (2)
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    • 1085 10 PI XD KXD DIGITAL ENTERTAINMENT LIMITED (Incorporated in Singapore on 30 January 2003) Invitation in respect of 160,000,000 ordinary shares of 550.045 each comprising:(1) 7,500,000 Offer Shares at 550.23 for each Offer Share by way of public offer; and (2) 152,500,000 Placement Shares at 550.23 for each placement share by
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  • SINGAPORE news
    • 640 11  -  But developers are expected to meet fall-year forecast of 5,000 to 6,000 units By Kalpana Rashiwala THE latest official figures show developers sold 1,669 private homes in Q3, down 13 per cent from Q2 and bringing sales for the first
      Source: URA/HOB  -  640 words
    • 338 11  -  EYE on the economy cpi By Joyce Koh SINGAPORE'S consumer price index (CPI) for September rose 0.7 per cent year-on-year, indicating that deflation has been left well behind. Against August, the CPI rose a more moderate 0.1 per cent, according to data released
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    • 201 11  -  By Daniel Buenas SINGAPORE'S public sector is lacking in supervision, work-life balance, effective communications, empowerment and pay and benefits compared with leading global companies, according to a International Survey Research (ISR). The firm polled 30,000 public sector employees from 15 government ministries
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    • 512 11  -  Agents cite falling supply, but further steep gains unlikely By Andrea Tan VALUATIONS for threeroom Housing and Development Board flats surged 5.9 per cent to an average of $153,100 in the third quarter against Q2 but housing agents don't expect similar increases going
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  • Page 11 Advertisements
    • 727 11 HHH Cjil lal-frtt lioe 2W 8822 IN THE MATTER OF THE COMPANIES ACT (CAP 50) AND IN THE MATTER OF UNITED MOTOR WORKS PTE I TO (IN MEMBERS' VOLUNTARY LIQUIDATION) AT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY DULY CONVENEDAND HELD ATM KAKI Bl KIT PLACE HIO-01/05. EUNOS TECHPARK. SINGAPORE
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    • 653 11 Keppel Telecommunications Transportation Ltd (Incorporated in the Republic of Singapore) 1. UNAUDITED RESULTS FOR THE THIRD QUARTER ENDED 30 SEPTEMBER 2003 The Directors of Keppei Telecommunications Transportation Ltd advise the following unaudited results of the Group for the third quarter ended 30 September 2003. GROUP 2003 2002 2003 2002 3Q
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  • SINGAPORE region
    • 459 12  -  Talks will begin in early 2004 and are slated to conclude within a year By Chen Huifen SINGAPORE and South Korea yesterday agreed to launch formal negotiations for a bilateral free trade agreement early next year, the leaders of the two countries announced
      REUTERS  -  459 words
    • 575 12 MELBOURNE Aussie TV says he has ties to group accused of funding terrorists Bernama THE Washington-based International Institute of Islamic Thought (HIT), of which former Malaysian deputy prime minister Anwar Ibrahim was one of its three directors, has been accused in the United States
      Bernama  -  575 words
    • NOTE Book
      • 117 12 Bloomberg [KUALA LUMPUR] Malaysia's government will meet its target of balancing its budget by 2006, said Second Finance Minister Jamaludin Jarjis. "The government is on track," he told reporters in Kuala Lumpur. In September, Prime Minister Mahathir Mohamad said the government will cut back
        Bloomberg  -  117 words
      • 80 12 Reuters [MANILA] The Philippines, struggling to contain its budget shortfall, said yesterday that talks on the privatisation of its state-run power transmission company have been delayed to the first quarter of next year. Singapore Power Corp, the only company that expressed interest in leasing the
        Reuters  -  80 words
      • 104 12 Reuters [MANILA] Philippine central bank Governor Rafael Buenaventura and five other bank officials cleared a legal hurdle after a court set aside a petition seeking criminal charges against them over the closure of a medium-sized lender. The criminal case and related administrative charges were being
        Reuters  -  104 words
      • 108 12 AFP [BEIJING] China's central bank is likely to take over control of the fight against money laundering from the police once a new amended law takes effect, state media said yesterday. It will be in charge of organising actions in the field nationwide and
        AFP  -  108 words
      • 64 12 AFP [SHANGHAI] Leading contract microchip maker Taiwan Semiconductor Manufacturing Co (TSMC) will invest US$lO billion in a Shanghai industrial park in the next 10 years, state press reported yesterday. "The deal has been agreed to and the total chip-making investment will be no less
        AFP  -  64 words
  • Article, Illustration
    1092 12 Transaction date: Oct 23 DtTERBAWE CROSS RATES AS CS Bwfc tiro MRS tnd is »m»Uh Yw Wot M B$ Mh Pwo S$ Band Sfr UTS Baht Pound US$ Australia 0.916 5.823 0394 5.441 31J06 59.494 0.769 8JH 2567 1.154 40.305 38.772 1223 4.902 0.918 23.831 28.017 0.415 0.702 Canada
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  • Page 12 Advertisements
    • 1158 12 jf XPRESS HOLDINGS LTD XprCSS (Incorporated in the Republic of Singapore) NOTICE IS HEREBY GIVEN that the Annual General Meeting of Xpress Holdings Ltd ("the Company") will be held at Bth Floor Boardroom, No. 1 Kallang Way 2A, Communications Techno Centre, Singapore *****5 on Wednesday, 26 November 2003 at 10.00
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    • 25 12 Jfc GONE! Before you even knew it. 0 Holding an auction? Call 1800-*****22 or email: notices@sph.com.sg to book your Notices advertisement in our newspapers now.
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  • REGIONAL news
    • 508 13 SHANGHAI It also plans a Nasdaq-style second board Reuters. Bloomberg CHINESE securities regulators yesterday said they would push forward capital market reforms, following a Communist Party pledge to support the financial sector. But few details were given in China Securities Regulatory Commission (CSRC) chairman Shang
      Reuters.; Bloomberg; REUTERS  -  508 words
    • 515 13  -  The agency will restart the bidding process for its 52% stake in Nov From Shoeb Kagda in Jakarta THE Indonesian Bank Restructuring Agency (Ibra) yesterday postponed the sale of its 52 per cent stake in Bank Lippo because
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    • 333 13 SHANGHAI CHINA'S Hunan province has been forced to drop a plan to sell significant stakes in local, state-owned listed companies by central authorities who fear the auction could turn into a disorderly Fire sale, the Financial Times reported. An official of the Hunan
      333 words
    • 195 13 BEIJING Excessive growth also a strain on transport, power Reuters RUNAWAY growth in a number of sectors from steel to automobile manufacturing is boosting the cost of raw materials and hurting industries across China, a newspaper yesterday quoted a top government official as
      Reuters  -  195 words
  • 1589 13 S1C0M FUTUKES Oct 23 RVB8EJI Futon (Closing prices) BSS1 (S ceotsAg) Close Volume Open Month High Low Sett (tennes) Interest Ho* 03 249.75 Dec 03 248.75 Jan 04 246.25 Feb 04 246.75 RSS 3 (US cwteAg) Volume Open Mootfe Htyi Low Sett (tonnes) Interest Nov 03 143.00 143.00 143.00
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  • WORLD news
    • 495 14  -  Recovery could stall unless price falls are halted soon, he warns From Anthony Rowley in Tokyo A FORMER senior official of Japan's ministry of finance yesterday launched a strong attack on the Bank of Japan (BOJ) for failing to perform its
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    • 214 14 NEW YORK Bloomberg THE US Securities and Exchange Commission voted to revamp rules governing corporate stock repurchases, including easing buybacks to stabilise prices after a catastrophe like the Sept 11 terrorist attacks. The SEC approved the changes in a regulation that restricts the
      Bloomberg  -  214 words
    • 245 14 Reuters [NEW YORK] The bubble may have burst, but the fuzzy accounting that fuelled the giddy rise of many dot-com companies is still around and growing, a study of the companies that make up the Standard Poor's 500 index showed on Wednesday. The
      Reuters  -  245 words
    • 344 14 LATEST US DATA Figures have fallen 15,000 since mid-September Reuters, Bloomberg [WASHINGTON] THE total number of Americans applying for initial jobless claims fell slightly last week, the government said yesterday, suggesting that the labour market was inching towards health as firms seem to
      Reuters,; Bloomberg  -  344 words
    • 372 14 CHICAGO US is turning robust but Europe, Japan lagging, he says Reuters US TREASURY Secretary John Snow said on Wednesday that US economic growth was accelerating but called global expansion far too lacklustre, particularly in key industrial nations. "As we look at the
      Reuters  -  372 words
    • 275 15 ORLANDO, Florida Reuters EUROPE'S biggest chipmaker, STMicroelectronics, on Wednesday posted a quarterly loss after a charge to cover sweeping plant closings, as a strong euro and falling semiconductor prices hurt results globally. Looking ahead, the Fran-co-Italian chipmaker said it expected Q4 revenues to
      Reuters  -  275 words
    • 376 15 TOKYO Results contrast starkly with improving profits of major competitors Reuters, Bloomberg ELECTRONICS and entertainment company Sony Corp reported a 25 "per cent drop in quarterly profit yesterday, hurt by slack sales of its Play Station 2 game console and slumping
      Reuters,; Bloomberg; REUTERS FILE PHOTO  -  376 words
    • 404 15 NEW YORK Pfizer, Merck, Wyeth, and Schering-Plough all worse off than a year ago Reuters US drugmakers posted bleak quarterly results on Wednesday, as some were hurt by hefty litigation and merger costs while others suffered from a failure to develop new medicines. Pfizer,
      Reuters  -  404 words
    • WORLD Watch
      • 72 15 Reuters [NEW YORK] Viacom Inc yesterday said third quarter net profits rose, slightly topping Wall Street estimates, as stronger advertising sales from MTV and the CBS television network offset weak demand for radio advertising. Viacom, home to Paramount Pictures, the UPN Network and Infinity Broadcasting radio,
        Reuters  -  72 words
      • 92 15 AFP [TOKYO] Japan's trade surplus in September rose 4.8 per cent from a year earlier to 1.1 trillion yen (5517.4 billion), the finance ministry said yesterday. Exports for the month increased 9.2 per cent to 4.86 trillion yen while imports jumped 10.5 per
        AFP  -  92 words
      • 81 15 Reuters [CHICAGO] McDonald's Corp on Wednesday said third-quarter earnings rose 12 per cent, beating expectations as new products such as meal-sized salads helped reverse a slowdown in US sales and offset overseas weakness. McDonald's said it earned U*****.4 million, or 43 cents a
        Reuters  -  81 words
      • 80 15 Reuters [TOKYO] Japanese venture capital company Softbank Investment Corp returned to profit in the half-year to September, helped by a stock market rally that boosted income at online brokerage unit E*Trade Securities. SBI, an affiliate of Internet investor Softbank Corp, posted a group net
        Reuters  -  80 words
      • 81 15 Reuters [TOKYO] Japanese chips-to-computers conglomerate NEC Corp yesterday said it swung back to a quarterly profit, boosted by a hefty contribution from its chip affiliate and brisk sales of mobile phones. Citing a strong earnings boost from the chip unit, NEC raised its full-year
        Reuters  -  81 words
      • 68 15 Reuters [STOCKHOLM] The world's No 2 truck maker, AB Volvo, yesterday beat expectations for third-quarter earnings and raised its forecast for total sales of heavy trucks in western Europe this year. Pre-tax profit was 1.3 billion Swedish crowns (5J296 million) compared with a forecast 0f940 million
        Reuters  -  68 words
      • 91 15 Reuters [NEW YORK] Eastman Kodak Co on Wednesday posted a 63 per cent drop in third quarter earnings and defended its plan to shift away from its declining film business and into digital pictures despite an outcry from disgruntled investors. Kodak posted third quarter net
        Reuters  -  91 words
  • 6 14 Transaction date: Oct 23
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  • 5 15 Transaction date: Oct 23
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  • 616 15 BONDS WARRANTS Tat Last V«l Cow* Ew TS! Mi tmmm Salt *m- ftm w if 3698 AST1W*****1 315 -1 547 1 16 -7 142 8 3697 Aona Ltd W*****6 15 -I SO 368 7 33 13 3603 Amtek W*****0 132 5 67 1 33 -2 1.27 20 3603 Armstrong 1MMO520
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  • EPICURE
    • 511 16  -  Mirchi's cuisine could do with some dressing up, says CHEAH UI-HOON CHEAH UI-HOON THE smorgasbord of ethnic cuisines at the Esplanade just got spicier, thanks to a new Northern Indian tandoor and tapas bar, Mirchi, in the clutch of cultural kitchens over there. With its bronze-golden
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  • 13 16 Transaction date: Oct 23 for live prices, log on to uwwxisuwjwrnarketsjcom
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  • Page 16 Miscellaneous
    • 214 16 CRYPTIC CROSSWORD 24 Give out spurious name at early start (7) 7 Troops that have been YESTERDAY'S SOLUTION 25 Generous okJ party (7) grounded? (11,4) Across: 1 Altercation, 8 Palin--26 One not expected to be BBe ambitious but get false dromes, 11 Oxen, 12 Near, 13 found out (4-2-4,4) praise
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  • CINEMA/ARTS
    • 404 17  -  By Cheah Ui-Hoon IF history was taught like Umoja, more students' imaginations would have been captured, and the lessons, not so easily forgotten. Umoja: The Spirit of Togetherness was a visual and musical spectacle as solidly underpinned by a sweeping commentary of South Africa's cultural history
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    • 576 17  -  Kill Bill is drenched in Tarantino's inimitable style and some way-over-the-top comic book violence By Geoffrey Eu QUENTIN Tarantino's proclivity for the minutiae of pop culture and movie genres not to mention his kick-ass dialogue and hard-nosed visual style as shown to good effect in movies
      576 words
    • 428 17  -  Intolerable Cruelty is a delicious war of words, wit and wills By Geoffrey Eu MILES Massey (George Clooney) has become the most successful matrimonial attorney in Los Angeles by homing in on the lowest common denominator in a case invariably himself and using it
      428 words
  • Page 17 Advertisements
    • 228 17 Where to wine, dine and entertain... "~tjgg| Executive Set Menu Want to dine on our superb value-for-money set menus but can't make up a group of 10? You will be delighted with our Executive Set Menus specially designed for individuals and smaller groups. Executive Set Lunch: $38, $58 S. $78
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    • 117 17 Emperors' Feast m Captain's Table offers Peking cuisine, the food of emperors, in our unlimited a la carte buffet. Adults: $22.80+ Child under 12 yrs: $16++ Available for dinner on weekdays and lunch and dinner on weekends. /Special Lunch Menu EEr $5.80 Nett Per Item \E With FREE Choice ot
      117 words
    • 233 17 $9|> Special Offer Chefs Recommendations r 1 <A >fV l l PcMii Smpmior Mwrti i HOIM ClucfcM Chick** Soap A? <1 &tQ aX #81-056 Fountain Ikmce Suntec Ctty pPnj) I* fb /*•> 1 -I*l Mall 3 Iteiasdi Boulevard 5(Q*****) Ytt Jia Zhoang Exotic Chinese Cuisine IH: 6336 8797 Fax: 6336
      233 words
    • 59 17 WnHHIP*" vuwwb. SfMcMi E«« Rota L Tom VMn f Sattwl BakaO ppP CMdwat UndtllJOamtolOOpm Olnnar ajOOpm to I(U>o|»n MERITUS MANDARIN SINGAPORE I jEL^X9||^HQ HIGH TEA AT NEW HEIGHTS Enjoy international favourites high-tea buffet. Adult: $26+++ "Inn Child: $16+++ ofd* Reservations: 6831 6258/88 liiililM MERITUS MANDARIN (•tat 333 Orchard Road. Singapore
      59 words

  • EXECUTIVE Lifestyle
    • 1264 18  -  Come this weekend, the Marina Bay area will stage the S'pore leg of the F-1 Powerboat World Championship after a 11-year hiatus. VINCENT WEE reports VINCENT WEE MARINA BAY may never be the same again. Singapore's hippest water body which has hardly seen more than a ripple
      1,264 words
    • 634 18  -  OFF the cuff It may not have been the greatest show on earth, but the US president's recent visit sure injected some buzz into the local scene jaime ee SO the American president has left the country after a whirlwind stopover. What was it like to have
      634 words
  • Page 18 Advertisements
    • 152 18 3?ea(/yor the ntemfio *aru <ftV^ jrft: Onf.-Ninety. For Simple Pleasures Made Special «3t I Indulge in One-Ninety's irresistible blend of comfort and easy sophistication. The experience perfected by our award-winning service and cuisine. Enjoy the exquisite dilemma of choosing between Modern European dishes or creative Asian cuisine. Or avoid such
      152 words
    • 46 18 WIN TICKETS TO THE RACE It POWERBOAT RIDES Just answer this simple question: The Fl Powerboat can travel faster than an Fl Racing Car. True or False? SMS your answer to ***** in this format: Fl(space)QUlZ(space)ANSWEß Log on to www.vee.com.sg for more exciting games and prizes
      46 words

  • SHIPPING TIMES
    • 254 19 Reuters THE Baltic Dry Index rose 37 points to 4514, the Baltic Capesize Index fell 29 points to 6825, the Baltic Panamax Index rose 108 points to 4270 and the Baltic Handymax Index rose 293 points to *****. TIME-CHARTER: China Steel Responsibility Kleimar relet (built 2003) *****5 dwt
      Reuters  -  254 words
    • 70 19 [SINGAPORE] Korean President Roh Moo-hyun paid a visit to PSA Corporation's Brani Container Terminal yesterday while in Singapore for a three-day state visit aimed at bolstering growing economic and political links. Pictured from left: Grace Fu, CEO, Singapore Terminals, PSA Corporation; Eddie Teh, Group CEO,
      70 words
    • 283 19 SGX 000 oaa si w- vol CH Offshore .0/40 -001 4787 ChuanHup 0.51 -0.01 6205 Cotco Investment .0.64 unch ***** CWT Distribution 060 -0.01 172 EzraHtdas 108 -0.04 1198 Freight U*s .0.13 -0.01 6123 GB Holdings .0.72 -0.03 50 JayaHohSngs 0 86 0.02 5993 K1 Venture J024 -0.01
      283 words
    • 623 19  -  Govt to help assess workforce skills, industry-funded drive to improve public image of shipyards By Beth Jinks [SINGAPORE] Singapore's resilient marine industry yesterday unveiled a twopronged strategy to solve its manpower woes, enlisting government help to assess and boost workforce skills, and
      FILE PHOTO  -  623 words
    • 183 19 [SINGAPORE] Star Cruises will relocate its SuperStar Gemini liner from its home port of Hong Kong to Singapore tomorrow for the rest of the year. The 19,093 gross tonne Gemini, which was already re-deployed from Taiwan to Hong Kong, will be based in
      183 words
    • 188 19  -  By Donald Urquhart [SINGAPORE] The ranks of ex-Hutchison employees now working here is about to be bolstered once again with PSA Corporation reportedly embracing another Hong Kong executive into its fold. According to trade press reports quoting sources in Hong Kong, Aaron
      188 words
    • 282 19 Strong domestic transport growth to boost full year earnings by 50% Reuters [HONG KONG] China Shipping Development Co Ltd, China's second-largest shipping company, said that its nine-month net profit surged by 83 per cent from the previous year and it expects full-year earnings
      Reuters  -  282 words
    • 948 20  -  ADMIRALTY CASEBOOK Yacht cannot be arrested because of unpaid commission: Canadian court By Selva Kumar A BROKER that acted as a shipbuilder's marketing agent could not later arrest the vessel it had sold as security in a claim against the builder for the nonpayment
      948 words
    • 157 20 Bloomberg [SEOUL] Samsung Heavy Industries, the world's third-largest shipbuilder, said it won orders from BG Group and Ras Laffan Liquefied Natural Gas Co of Qatar for liquefied natural gas ships worth US$l.3B billion. Samsung Heavy will build nine vessels with capacity of 145,000 cubic metres
      Bloomberg; FILE PHOTO  -  157 words
    • 3 20
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    • 3 25 THEBUSINESSTIMES
      3 words
    • SHIPS IN PORT
      • 545 27 Vessel Voy No Berth Arrival Departure JURONG PORT/MULTI-PURPOSE TERMINAL ANABAS 2393E J16/17 A/SIDE 24/10 0600 CITRA LINE JB103 J7/8 A/SIDE 24/10 0315 DELMASBLOSS 001W J18/19 A/SIDE 24/10 0230 GENIUSTRADER 32 J10 A/SIDE 24/10 1800 HEBEI PEACE 2312 J6 A/SIDE 24/10,2000 ID COMMANDER 3 J5 A/SIDE 24/10 1500 LABROY
        545 words
      • 2 27
        2 words
      • 149 27 Oct 25 Taiwan: Retrocession Day. Oct 27 Brunei: Awal Ramadhan. New Zealand: Labour Day. Oct 31 Germany: Reformation Day. Taiwan: Chiang Kai-shek's Day. Nov 1 Philippines: Saint Day. Nov 3 Japan: Culture Day. Nov 25 Singapore: Hari Raya Puasa. Malaysia: Hari Raya Puasa. Dec 5 Thailand: King's Birthday.
        149 words
      • 819 27 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
        819 words
      • 47 27 TWi r«piii li >■■■« in *—llW>r mm■>!*<)w««UWrtfc»*fOX«>iM>nnr». My XNiir UrtiM»« |lllil>»H H rilim «f »«»>>. Cim irllllMl t— ■»> Mw twtfwti—< SMrfWcXf una n*«iim ty emu* wirMiuim m iinMiii» cw»>m<i— (cmAC) wr —ai pn-im ff —Xliiln—!>«» —crrwrttwUMltirMlWlYMntii Tt^w—; OTTV3ST-40M. T«s»n; 1H514 OHV UK 6. r«: OT7I-JS7-«1«2
        47 words
    • AIR & LAND transport
      • 590 28 Move makes appeal against Australian regulator's decision tougher: analysts Bloomberg [WELLINGTON] Qantas Airways' proposal to spend NZ$55O million (SssBl million) for a stake in Air New Zealand was blocked by New Zealand's antitrust regulator, which said an alliance would reduce competition. Shares of
        Bloomberg; AFP  -  590 words
      • 287 28 AP [NEW DELHI] Speculation is growing that India will soon end a longrunning state monopoly and allow domestic private carriers to fly on international routes. This week the government announced it would permit private airlines to fly to neighbouring Sri Lanka.
        AP  -  287 words
      • 414 28 Move to ease congestion will save industry billions Reuters [WASHINGTON] Aircraft will be able to fly closer together at high altitudes over the United States as a way to ease congestion and save the aviation industry more than US$5 billion,
        Reuters  -  414 words
      • 167 28 AFP [BEIJING] China Southern Airlines, the country's largest carrier by fleet size, said yesterday it will boost its international flight schedule in the next six months. The carrier said in a statement it will increase services from the southern city of Guangzhou to Tokyo,
        AFP  -  167 words
      • 212 28 AFP [DUBAI] Dubai-based Emirates will be the first airline to take delivery today of the Airbus A 340-500, the world's longest-range large passenger jet, the company said. The new aircraft, designed for flights over 17 hours, will go into service Dec
        AFP  -  212 words
      • 374 28 Reuters [AMSTERDAM] Dutch airline KLM reported far better than expected secondquarter net income yesterday, boosted by cost cuts and sales of several holdings, in its first results since agreeing to a takeover by Air France. Helped by the holiday travel season, Europe's o
        Reuters  -  374 words
      • 384 28 Its US$1m profit was its first since last quarter of 2000 AFP [FORT WORTH] American Airlines parent AMR Corp, the world's biggest airline group, announced on Wednesday that it barely broke into the black in the peak July-Sept quarter. American, which narrowly
        AFP  -  384 words
      • 395 28 AOVJNE COOES AA Amman Arms (ML), AfAr frtnct (Am). A) At toda (AC). AY FmarOyfFTN) AZ AKWu Mns (AIM. BA Ms* Armys Puttc LU Co (BAIA9 as Aw bytxxsti Arms (BSC) Bl «oy* Bnr* Arms Sdn BhO (RBA). BO Bono Arms (BOU) BR EVAAmysCorpn(EVA). CAArCIn (CCA)
        395 words
  • Page 19 Advertisements
    • 32 19 ADMIRALTY CASEBOOK Shipbroker's action in rem struck out I •flirt *o.k v Vi y *I( 11 Thinking about 1 penetration, exposure, resulls? if il':; about Singapore;':, irifirilirric; (,ommiirnty. think M sinmv. Ii\ii:s
      32 words

  • Page 20 Advertisements
    • 866 20 1 TO USA/CANADA I I EXPORT I 1 OTHER DESTINATIONS I VBSE |vOT HK» |ffl £111 jIOMG KAQ<|pAUAS HOUSTON WMfHB JOBCAGOj KW TORt j| TO AUSTRALIA (AUSTRALIA ASIA EXPRESS) OOQCHHtt 44(44 21/10 24/10 14/11 11/11 71/11 14/11 14/11 22/11 JvSia VOY ETA SM H KG ——ST"! —STI Mfl AM PIO
      866 words
    • 518 20 Lines services represented by Members of the Regislry of EM} Accredited Ageoh Singapore m AssockHwo «S/ CONVENTIONAL CARGO /C PORT KLANG/SMGAPOtf/iAKAKU C kANGXOf VOV ETAPKL ETA SIN ETA MALE Priam* Llh IMS MID fl/11 Mil Hald Star 543 A M il K/11 11 1 I UU MARINE SERVICES SINGAPORE Pkw
      518 words

  • Page 21 Advertisements
    • 1367 21 TO EUROPE FROM EUROPE IvKsa Ivors* git km am ham hv sou ia llvtssa Ivot inn w mm wv sou w swl MOi PROMISE OUW24/10 07/11 09/11 14/1115/11 HYIMJAIGBSAL *****4/10 06/10 09/10 02/10 25/10 HY LIOERTY 318W 27/10 14/11 14/11 10/1112/11 MaHOOBS 00* 07/10 09/10 11/10 12/10 21/10 Aft CYRUS
      1,367 words
    • 1908 21 f < MONTHLY CONTAINERISED SERVICE TO SOUTH MCIFIC ISLAND OF COSTAR*SHIPPING PTE LTD SORBS*" gSR* -SBST HBBBS I SUVA UUTOKA (FUI) a»'"IWM« Til; 6776 1900 (MAM) INWARD (0/0) *****714 M3IHIV« I PAPEETE fTAUITII T/SMPMP *****425 *****316/44 I rArttlfc (IAHITI) JOHOTS OFFICE CONVENTIONAL *****450 *****701 1 COSIAR AGENCIES H» SOW WO
      1,908 words
    • 572 21 VESSfI VOY SIX JCT HKG I KMH Jl* KYH PUS VESSEL VOY SIN JKT SUB HKG USX PUS IMC HY itIDGt K75 29/10 tfll_ _7/H 10/1112/11 ]2/H KMTC SINGAPORE 314S 27/10 30/10 31/10 6/11 f/11 10/11 It/11 HTUMUi<IADO<OSTO< 1325 S/ll 1/11 13/11 14/11 17/11 lt/ll It/11 KMTC JAKAKTA 315S 2/11
      572 words

  • Page 22 Advertisements
    • 613 22 CI Ail A O ENQUIRIES/BOOKINGS: #*****44 FAX: 533«7433 E-MAIL: MmM9MmM.cwn.tg Kj>l UCLIVIDOCUMENTATIONS/OPERATIONS: *****637 FAX: *****177 M.MAt m«w Mwt »»t»« EIPtESS CONTAINS SBVKI TO SOUTH/WIST AfltKA VESSEL VOY SIN REUNIONLUANDA POINITNCMRi NUT AIM UIMVIILfAWDJAX TEMA LOME TINCAN COTOMOU APAPA DOUALA ONNE DelmasFtxbin W P/IO "wiT j 20/11 23/11 IVII 72/11 j
      613 words
    • 253 22 M VASCQ MARITIME PTE LTD. OFFERS WEEKLY CONTAINERISED SERVICES FROM SINGAPORE/MALAYSIA/INDONESIA TO INDIA NHAVA SHEVA, MUMBAI, KANDLA CHENNAI, CALCUTTA ALL CDS PAKISTAN KARACHI INLAND SECTORS. ALSO SERVING AFGHANISTAN ARABIAN GULF DUBAI. ABU DHABI. SHARJAH. BAHRAIN. DAMMAM, BANDAR ABBAS KUWAIT SOUTH EAST ASIA P. KLANG. PENANG PASIR GUDANG, JAKARTA, SURABAYA, BANGKOK,
      253 words
    • 1456 22 WAN HAJINTERNATIONAL PTI LTD am- mnmm/u T1L*****588 (14UMES) FAX:*****163 vwvWAN HAI LINES sssssfc!aaasssssas-. y. 1 JOH HL 107) 151*73 HUL IOTOIWJI MTH.IO3IIWM/5 NUL Ml) JW27H 1791J05 wmiim wnnhai com Sfl *1 mi| S2S4IOONUL o}l| SM47M IH. 7IUO/7IUOI «A171U71 www.wgnnßi.to g glß:WH)4li7mmiDt))«lS»re/4I«WW PWSKHKCOtt KB K IWI M rroT«rws*com R***** 1117M RIB
      1,456 words
    • 681 22 BSA x MYANMA BR FIVE STAR LINE (Mymnar National Line) Looding for YoagM VfSSEL VOY SIN PU PIN PGU PAGAN 306W SID HPA-AN 307W SB IN MALAYSIA: IOUSTEAD SHIPPING AGENCIES KUL 03-*****300 PKL 03-317*6101 PEN: 04-*****02 BANK LINE (A ttrvk* el kmirtw Weir Skipping) NORTHBOUND TO EUROPE V CONTAINER, RORO,
      681 words

  • Page 23 Advertisements
    • 1324 23 IRISL, 3£]j*£/£j s>JrJ }hj*MsjJj bs]] I&zJIjJzJ Is>7 follslilsl p£>foyte foj frstirJ sJg W&J] sJ£ Go]O§ q foj tifos frstiiafo JfojJd? AGENT IN SINGAPORE AGENT IN MALAYSIA AGENT IN INDONESIA SINOSE MARITIME PTE LTD BOUSTEAO SHIPPING AGENCIES SDN BHD PT. SINOSE CONTI PERSADA TEL: *****144 FAX: *****181 KLANG TEL: 03-*****368 FAX:
      1,324 words
    • 662 23 A k UK CONTINENT SERVICE Loading for GOKCAN RTM/ATW/BMNAJK/NAN Loads Singapore. E JW. Mataysa Indonesa MIDDLE-EAST SERVICE Loading for DORIAN STAR DBI/ABU/DOH/BRN/DMM/KWT MARAKOT NAREE DBI/ABU/DOH/BRN/DMM/KWT J FRIEND JDH/AQA toads Singapore. E7W Malaysia. Indonesia USA SERVICE Loading for NENA J VCW/LAX/MZL SEABEE CAM/NFK/SAV/NOL •Loads E7W. Malaysia. Indonesia F.E./S.E.A. SERVICES S pore
      662 words
    • 1126 23 VESSEL VfiT m VESSEL XSX in MT PAC lAMOA IMM 23/10 24/10 HC SUIU tlfiU 23/10 25/10 PACIANOA IQMti 25/10 26/10 4i AMI ATA 2 IttZ 24/10 21/10 PAC lAMOA IOtSN 27 10 27/10 PAf Sllll f 1Q24 Jfl/lfl 01/11 PAC lAMOA 10MN 2»/10 21; 10 AUMJAYA tm 02/11 1
      1,126 words

  • Page 24 Advertisements
    • 644 24 TIGER SHARK 12W 21 29/10 04 06/11 11-12/11 I TI6ER SKY 1 m 01-02/11 07-W/ll 15-16/11 I TIGER S£A 130* 04 05/11 11 13/11 11-11/11 I TIGER IRIDGE I3IM 0801/11 14-15/11 22-23/11 I IvlssE^^^wyrsiH CAT^^S|l^| "BBS ii 7 2i177i0 oiWil iFn7TI I JIAISAM 143 27 27/10 04-06/11 15-15/11 I TIGER
      644 words
    • 1075 24 FREIGHT LINKS EXPRESS PmLTD* 51 Penjuru Road, 3 Level, Freight Links Express Logisticentre, Singapore *****3 Tel: *****51 1 Fax: *****577 X* C-Scl IT E-mail: flesin@sinqnet.com.sq m^ LCL SERVICE TO JAPAN/INDONESIA/PHILIPPINES OSAKA KOBE CEBU •JAKARTA YOKOHAMA NAGOYA SURABAYA MANILA jH^l^HßEiiyl Booking 6267# RJK3o|^^Jiiii 5565/4694/5535/5580/5541/5508/5569/5560/5563/5514 IkMWV" PROJECT Cr HEAVYLIFT CARGO M (CONVENTIONAL
      1,075 words
    • 1351 24 rb IPDZ LINES a mw 9 w OBTonasavKt nLOJ4Mi $$H fM:Oj-4n;-«iw Im&%m SIMGAfOtfc TONG JOO SWffING PTI LTD hmk kMluap9tts.coai.if REGULAR CONTAINERISED SERVICES TO MALAYSIA, BRUNEI, MYANMAt AND VKTNAM ntsti ror n*tin kcn rtssti ror it*sin hmi nssn ror rum! mo mm m itahi^iiSaila mmims us? 74/10 a/io qmmhg~ 3037
      1,351 words
    • 205 24 BREAKBULK A CONVENTIONAL SERVICE DIRECT SERVICE FROM S PORE TO KARACHI Ivissa I vot to. hasihgawm n*mtAcm Uli I 011HW saU 01/11/93 lOXral I OItHW IS/11/03 7S/11/03 SMtfC SEA-PAC MANAGEMENT PTE. LTD. 70 Aruon Read *17-07/08 Apex Toww Singapor* *****5 IJQ TaUphorw: 6270 0977 II Facsimtl*: 6275 2309 T«tox: K$
      205 words



  • Page 27 Miscellaneous
    • 110 27 Issued by Meteorological Service Division,NEA LEGEND: Thunderstorm Wind speed symbols v 7 Showers Fu circ,e w/o ,ine indicates calm or light and variable winds Rain L One half fleche represents 5 knots Cloudy Day "One full fleche represents 10 knots x Hazy A -One solid triangle represents 50 knots D
      110 words