The Business Times, 27 November 2003

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Total Pages: 30
1 30 The Business Times
  • 14 1 THE BUSINESS TIMES fs Internet: http://business-times.asial corn.sg S INGAPORE THURSDAY. NOVEMBER 27. 2003 es#
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  • 943 1  -  Bank's customers can get cash and credit facilities, pay card bills By Siow Li Sen [SINGAPORE] HSBC is aggressively expanding its banking presence in Singapore. Yesterday it announced two major new services, one of which even leapfrogs a similar service offered by
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  • 703 1  -  Growth in advanced nations will boost Asian exports From Anthony Rowley in Tokyo THE Organisation for Economic Cooperation and Development (OECD) yesterday presented an upbeat view of global economic prospects. It suggested that the recovery enjoyed this year should continue to
    703 words
  • 71 1 1,—.11 (+21.48) □ST MDKX RJTUNBS I,ool*o (+32.00) ■1 1—II Him— U 209.70 (+3.50) Wednesday Change KLSE COUP dosed NIKKEI 225 _10,***** *184.63 HANG SENG —12,***** +78.60 SET INDEX 6S0.82 +25.79 JAKARTA COMP -dosed MANILA COMP —dosed TAIPEI WPI 5,860.61 -057 SEOUL COMP 782.65 +1454 SHENZHEN B ***** -L27 AUST
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  • 77 1 FOREX RATES IIS$ S$ IIS$ (S$ per CSS) 1.722 £(TS$/S$ per 1.701 1930 EIiRO(US$/S$/E) 1.184 2.038 YEN 109.4 63.50 KM .1800 2206 HK$ 7.767 4.510 BAHT 3990 23.16 Rl'PlAH 8*18 4,94) RENMINBI s 299 1818 INDIAN RUPEE 45.91 26.65 AS 1590 0.807 NZ$ 1.566 0.909 PMME RATES SINGAPORE* 5J»
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  • 853 1  -  BT exclusive Direct Marketing Association setting op online facility By Raju Chellam [SINGAPORE] In a fresh bid to curb spam or the unwanted, unsolicited nuisance e-mail and SMS messages that clog computers and mobile phones the Direct Marketing Association of Singapore
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  • NEXT page
    • 602 2  -  Citing political uncertainties, it puts Philippines on review for a possible credit downgrade By Loh Hui Yin [SINGAPORE] Thailand has received a rave report from Moody's Investors Service, which upgraded it two notches because of its continued good macro-economic outlook and dramatic reduction in
      602 words
    • 496 2  -  EYE ON THE ECONOMY Broad-based recovery in manufacturing sector still elusive otherwise By Andrea Tan [SINGAPORE] Manufacturing output hit a high as Singapore made more drugs in October compared with the same month last year. But few people would have felt the
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    • 535 2  -  It'll double staff to 60 in two years and will pay top dollar By Siow Li Sen {SINGAPORE] EFG Private Bank is looking to double its private banking staff to 60 over the next two years and is willing to pay $150,000$250,000 a
      535 words
    • 607 2 TRADE ROW It may slap retaliatory duties on US imports AFP, Bloomberg [TOKYO] Japan yesterday threatened to impose US$B5 million in retaliatory duties on American imports unless the US backs away from steel tariffs ruled unfair by the World Trade Organization
      AFP,; Bloomberg  -  607 words
    • 34 2 IN Tuesday's Eye on the Economy column, we erred in saying October's Consumer Price Index rose month-on-month. The index actually fell, by 0.1 per cent, over September. We are sorry for the error.
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  • Page 2 Advertisements
    • 91 2 Incorporation services in all major jurisdictions I Global network of offices Ready-made companies available > Management and administration services China business registration Accounting and trade support services Virtual office solutions I Personal and corporate bank introductions TO ARRANGE A FREE CONSULTATION CONTACT: SimomeToh T: 466 6536 3382 R+6s 6535 3991
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    • 11 2 PB iluthia on China TVs to aid foreign makers, Pg 3
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  • TRADE ROWS
    • 491 3 US consumers on losing end as decision likely to raise TV prices Reuters [NEW YORK] A US decision to slap stiff duties on televisions from China is likely to benefit other foreign manufacturers rather than American ones, as there is now very
      Reuters; REUTERS  -  491 words
    • 267 3 Chinese trade ministry slams US tariffs as unjust AFP [SHANGHAI] Chinese TVmakers yesterday denied any wrongdoing after the United States rapped them with a set of heavy antidumping duties that have reignited fears the two countries are headed towards a trade
      AFP  -  267 words
    • 90 3 Bernama [KUALA LUMPUR] Malaysia's Ministry of International Trade and Industry (MTTI) will help any Malaysian manufacturer under investigation for allegedly dumping their products at below cost, its minister Raf idah Aziz said yesterday. She said while MITI would fully assist the US
      Bernama  -  90 words
    • 208 3 But this has nothing to do with trade row: China official Reuters [SHANGHAI] China has found fungus in a soybean cargo from the United States, the country's quarantine bureau said yesterday, possibly fanning the flames of a trade row brewing between the two
      Reuters  -  208 words
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  • SINGAPORE companies
    • 755 4  -  HOCK lock siew r sivanithy IF SOMEONE you know asks you to lend them money, you'd probably ask them: "What's it for?" This is an entirely natural reaction you're perfectly entitled to ask what your money will be used for. On
      755 words
    • COMPANY Briefs
      • 88 4 Bloomberg BANYAN Tree Hotels Resorts, which runs spas in Indonesia, Thailand and the Maldfrte, has hired DBS Group Holdings to help arrange an initial share sale next year. DBS spokeswoman Eileen Lau confirmed the hiring and said the IPO will be managed with ÜBS. She
        Bloomberg  -  88 words
      • 66 4 Snnray interim profit Jumps 87% CHINA medical apparatus maker Sunray Holdings, which was listed recently, yesterday reported a 57 per cent jump in net profit for the six months ended September to 2ZJB million yuan (SslB million). Turnover rose 48 per cent to 55.7 million yuan. Sunray attributed its higher
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      • 75 4 SPORTING goods retailer RSH said yesterday its proposed placement of 30.6 million shares to Malaysian tycoonSyed Mokhtar Al-Bukhary's Bukhary Equity Sdn Bhd is to be completed by Dec 31. It said it has been informed that Bukhary Equity is in the process of
        75 words
      • 86 4 HONG Leong Asia's home appliances unit Henan Xinfoi Electric Co yesterday entered into an original equipment manufacturing (OEM) agreement with Hitachi Home A Life Solutions to supply refrigerators to the Japanese market, and subeequently to ma)or markets around the world. As part of
        86 words
      • 65 4 SINGAPORE Telecommunications, together with Vietnam Datacommunications Co, is offering Internet-based network communication services for companies based in Vietnam. The service, known as Internet Protocol Virtual Private Network, will aDow data connections between company operations based in Vietnam and those overseas. Sing Tel said it is the first foreign operator to
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      • 49 4 LIM Jit Poh, a long time veteran with the Lum Chang Group and who was due for rotation, hae not sought re-election at the group's development arm LC Development He retired as a director as well as deputy managing director of LC Development fretn yesterday.
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      • 93 4 HESHE Holdings said yesterday it has been granted an extension until Dec 31 to hokl its annual general meeting. It said it sought the extension as audit clearance for its Beijing subsidiary was delayed. This was because the unit's accounting records were in the hands of the Chinese tax authorities
        93 words
    • 764 4  -  $1 per share offer represents a 12.4% premium over the last traded price By Kenneth Lim A PRIVATISATION bid of Dovechem Stolthaven involving a Dovechem director, two shipbrokers and another individual has been given an early boost by key Dovechem shareholders. Great
      764 words
    • 406 4  -  It raises 12-month price target to $2.05 on anticipated recovery By Raju Chellam INVESTMENT bank Merrill Lynch has upgraded its rating on Chartered Semiconductor Manufacturing to "buy" from "neutral" on expectations the company will start to turn around in 2004. Smith Barney has had
      Source: Bloomberg  -  406 words
    • 523 5  -  Results lifted by strong performance of Aussie associate AV Jennings By Serena Ng ENTREPRENEUR Simon Cheong's restructuring efforts at his Singapore-listed companies look to have borne fruit. His majority-owned SC Global Developments yesterday posted a 219 per cent surge in net profit
      FILE PHOTO  -  523 words
    • 343 5  -  Company expects good demand to continue in H1 By Chen Huifen BOOSTED by higher customer orders for its core and non-core businesses, contract manufacturer MMI Holdings yesterday reported a first quarter net profit of $3.6 million for the three months ended Sept
      343 words
    • 338 5  -  Sales op 44% due to S'pore municipal deals; it expects demand to remain strong By Woog Wei Kong IT'S another sparkling set of results from water treatment group Hyflux. Net profit surged 133 per cent to $3.3 million in the third quarter to
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    • 1191 8 CORPORATE ANALYSIS Much-maligned purchase now reaps dividends as strong HK results help to boost group's Q3 earnings Bloomberg SHARES of DBS Group Holdings, Singapore's biggest lender, have surged 46 per cent in six months as the purchase of Dao Heng Bank Group in
      Bloomberg; FILE PHOTO  -  1,191 words
    • 340 9  -  Booming stock markets in the region leads group it post $25m profit By Wong Wei Kong LISTED Singapore broking group Kim Eng Holdings $as bounced strongly back to profitability on the back of a buoyant stock market. The broker chalked up
      AFP FILEPHOTO  -  340 words
    • 501 9 Hotel recovery will boost profits way above Q2: analysts Reuters CITY Developments Ltd, South-east Asia's secondbiggest property and hotel group, is likely to report its profits soared between the second and third quarters, boosted by a recovery in its hotel business. Analysts said yesterday
      Reuters; FILE PHOTO  -  501 words
    • 537 9  -  Earnings drop 55% to 101m yuan in Q3 on lower turnover By Loh Hui Yin PEOPLE'S Food Holdings' share price lost nine cents yesterday after the Chinese meat processor announced a 55 per cent fall in its net profit for the third quarter.
      FILE PHOTO  -  537 words
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  • Page 5 Advertisements
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  • SINGAPORE markets
    • Article, Illustration
      622 6  -  Compiled by CHEAN eĝ Ql results were slightly above our expectations. Sales rose 9 per cent q-o-q to $195 million, driven by the seasonal upswing. Profit increased 75 per cent to $10.8 million due to changes in revenue mix and operating leverage. China was the only growth driver.
      Source: Bloomberg  -  622 words
    • 311 6  -  HOT STOCK WARRANT By Teh Hooi Ling CAPITALAND has refocused its diverse asset holdings to that of an asset-light, multi-10, cation entity. In the process, it has lowered its exposure to a lacklustre Singapore commercial sector, reduced punitive interest costs and revived
      Source: Bloomberg  -  311 words
    • 525 6  -  BT comment STOCKS r. sivanithy A LAST-MINUTE sell-down of Singapore Press Holdings cut the gain posted by the Straits Times Index yesterday, leaving it with a modest 21.48-point rise at 1,688.41. Banks were the main index movers, and thanks to the momentum
      Source: Bloomberg  -  525 words
    • 604 6  -  BT comment CURRENCIES South African rand soars, helping to temper pullbacks by Australian, NZ currencies larry wee AHEAD of an extended weekend break for Thanksgiving in the US, the greenback backed down from overnight highs, which in turn were reached after an upward revision in
      Source: Reuters  -  604 words
    • BROKERS' TAKE
      • 86 6 SANDI Gunawan Ho, Ipco International's recently appointed non-executive chairman, yesterday bought 800,000 shares at 13 cents each in the construction and infrastructure group. The open market purchase raised his direct shareholding in the mainboard-listed company to 12 per cent, or 53.1 million shares, from 7.09
        86 words
      • 116 6 THE controlling shareholder of marine logistics group Sinwa KS has raised its stake following purchases of a total 0f380,000 shares on Nov 21 and 24. The shares were bought on the open market at prices between 35.62 cents and 36.5 cents., This raised Evenstar's direct
        116 words
      • 62 6 ONE of Capita Land's independent directors, Andrew Robert Fowell Buxton, on Nov 24 bought 50,000 shares in the Temasek-linked property group at $1.53 per share from the open market He did not own any shares before this purchase. Capita Land, which hit a 52-week high
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      • 111 6  -  Compiled by SERENA NG THINLY traded Thai Prime Fund, which last week announced plans to convert into an open-end fund, saw substantial shareholder Carrousel Fund Ltd buying 200,000 shares on the open market on Nov 21 while Deutsche Bank sold 200,000 shares thesame day. Carrousel
        111 words
    • Article, Illustration
      126 6 OTHER SINGAPORE MOKES Nov 26 VALUE CLOSE WMflU -337.00 +478.00 BTC<IH -*****.00 +196.00 -*****.00 -33.00 HMtipMw 454.73 +6.54 tariuMiinirt 167.03 +0.91 WMhifti 1417.07 j +17.12 MtpWnPllH 421.51 +4.36 WaHHlHii 206.36 +2.62 MMaHfm 206.70 +3.50 (lob (icmmg prices are in trading currencies, but ab&otut? dUbrence w tw .St CURRENCIES Where S$
      126 words

  • BLUE chips
    • 942 7  -  They provide ballast to the risky Indon market, says WONG WEI KONG WONG WEI KONG F shareholders give the nod to- day, Cycle Car- riage Ltd (CCL) will be renamed Jardine Cycle Carriage. The name change, albelt only at the holding group
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  • Page 7 Advertisements
    • 822 7 GP Batteries International Limited (Incorporated in the Republic of Singapore) Announcement of Second Quarter Financial Statement The Board of Directors of GP Batteries International Limited is pleased to announce the unaudited financial statement of the Group for the second quarter ended 30 September 2003 as set out below: The Group
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  • 7 8 UNIT TRUSTS FUNDS SEltteSttSSSeiL** Hy, »~rnjm ft*'***.,
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  • Page 8 Advertisements
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      177 words

  • Page 9 Advertisements
    • 101 9 I TAi'M Unbiased advice. World-class wealth managers. An investment strategy as individual as you are. At ÜBS Wealth Management we pair a dynamic advisory process with the vast resources of a global financial services group. The former ensures that we understand your needs and expectations. The latter that we meet
      101 words

  • EXECUTIVE suite
    • 596 10  -  GARDENER'S log By Thien UNLIKE a tottering busker on stilts, Nature has made the so-called Stilt Palm as steady as a rock. This is because in its natural habitat, the Verschaffeltia splendida, originally from the Seychelles, grows on steep forested hillsides and at high altitudes,
      THIEN  -  596 words
    • 277 10  -  Dalvey Rd good class bungalow fetches $8.5m or $460 psf of land for Chan Yeuk Pun By Andrea Tan ANANDA Travel boss Chan Yeuk Pun's good class bungalow in Dalvey Road has been sold at an auction. The two-storey house with a swimming
      277 words
    • 229 10 Reuters [SAN FRANCISCO] A record number of million-dol-lar homes were sold in California in the third-quarter, as property prices soared and well-t(Mlo buyers took advantage of still reasonably low mortgage rates, according to data released on Tuesday. Sales of the
      Reuters  -  229 words
  • Page 10 Advertisements
    • 223 10 ADV Exclusive Freehold Apartments, For Sale Enbloc at Road r^pGST ood Swimming pool/facilities uA Total Area ft 1 Interested parties, call Ms Soon Su Un at 6224 ,or more details. —J CBRE 6 Battery Road #32-01 Singapore *****9 cb richard ellis OF Where to wine, dine and entertain... "~t§M| BAR-TOP
      223 words
    • 221 10 Exclusive Freehold Landeda Residential Site at Old Holland Road /rs/fy* Freehold/Estate In Fee /y J/§• Total Site Area 87.066 sq ft Prime District 10good m class bungalow and M u semi-detached area Very near to o F°r further informaion, < X\ S please contact "W d Mt Soon Su Una!
      221 words
    • 122 10 F Wlm mi r tI FOR SALE BYTENDER N0.7 Brizay Park .TTT-TMM good dag bungalow site Area: appro*. 24,087 sq ft Oose proximity to Turf City and prestigious BB "t» school t Located in an exdusive and tranquil residential enclave surrounded by lush greenery V 3 Quick acoes to major
      122 words

  • SINGAPORE news
    • 251 11 CITIBANK hopes to boost adoption of its online services with a mobile team of advisers to provide help at customers' doorsteps a move aimed at evening the odds for a foreign bank with just four branches. "As a foreign bank we
      251 words
    • 490 11  -  Good prospects driving yield expectations to record low: survey By Kalpana Rashiwala HOTEL trading expectations in the short-term in Asia-Pacific are the most positive since Sept 2000, according to the latest survey of the world's 2,000 largest investors and owners of tourism
      490 words
  • Page 11 Advertisements
    • 1015 11 Special for BT readers I ♦THE first6oo readers to turn up at Spinelli's(Novena Square) this Saturday (Nov 29) between noon and 6 pm with a copy of the day's BT will enjoy a free Citibanker's SPIN drink (worth $8). ♦THE first 500 readers who sign up for electronic statements at
      1,015 words
    • 551 11 IN THE MATTER OF THE COMPANIES ACT. CHAPTER 50 AND IN THE MATTER OF WHEEL EXPERTS CREDIT A LEASING PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) At an Extraordinary Ganeral Meeting of the members of Wheel Exports Credit A Loosing We Ltd, duly convened ond held at the registered office, 15
      551 words
    • 110 11 jfm Everywhere under the sun. I |j| mm {Wherever I am my office is *'""4 always with me." Glen Yong Senior Financial Consultant Welcome to ROAMING I Bi *r at M C IB V-- -»>■ V M'jM' H ii 9 »H RS HHBHI V: aK I I 1] ®L I
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  • EDITORIAL & opinion
    • 736 12  -  THE bottom line OPINION frank ching AFTER months of growing disquiet during which it watched Taiwan's leader Chen Shui-bian and his allies propose a slew of sensitive actions from which will emerge a new country, Beijing has made it clear that it will not
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    • 53 12 'Don't cut deals behind my back in the middle of the night and call me the next morning and expect not to be criticised.' -Hiat Spiter,the New York State attorney-general. He was referring to the Securities and Exchange Commission's settlement with Putnam Investments over fund-trading abuses arranged
      53 words
    • 618 12 EDITORIAL PROM Dec 1,stockbroking in Singapore will undergo a quiet but significant change. New Singapore Exchange (SGX) rules will come into effect, requiring brokers to minimise conflicts of interest Research sections will have to be clearly separated from the rest of the business, while broking houses
      618 words
    • 918 12  -  It's certainly not true that, as Washington claims, Chinese exporters are using unjust state subsidies and an undervalued yuan to drive US bra makers out of business By Andy Mukherjee Bloomberg BEFORE China joined the World Trade Organization (WTO) in December 2001, how
      Bloomberg; AFP FILE PHOTO  -  918 words
    • 513 12  -  COMMENTARY Things are getting better in the US, not worse By David Brooks NYT THE Economist magazine recently observed that in the 40 years following World War n, "America and Europe seemed to be growing more like one another in almost every way that matters". Demographically, economically
      NYT  -  513 words
  • Page 12 Miscellaneous
    • 227 12 CRYPTIC CROSSWORD lar means d( ventilat)OM6) 13 Inexperienced driver one given reprimand for causing 16 The limit, for example, of 20 Key agreement for viewers 28 possibly ex--30 Man getting excited about the music (6) be put sideways (7) Actom: 1 Long division, 9 Esto--31 The chump, to break In
      227 words


  • REGIONAL news
    • 545 14  -  Panel to flesh out read map tor ailing economy amid security concerns From Al Labita in Manila PHILIPPINE business leaders met yesterday to craft a "road map" for the first 100 days for whoever emerges as the next president In the May national
      545 words
    • 397 14 MANILA Fernando Poe Jr wants same support shown to Estrada 5 year ago Bloomberg PHILIPPINE movie star Fernando Poe Jr said he would run for president, betting he can mobilise the same support from the poor that carried fellow screen idol and now-jailed
      Bloomberg; PHOTOS: AFP  -  397 words
    • 361 14 BANGKOK BUDGET airline Air Asia Aviation is expected to appoint director Tassaphol Belaweld as its chief executive shortly. The Nation reported, citing a source doee to the company. The source said Mr Tassaphol, recently appointed as mapaghig director, will also hold
      361 words
    • 439 15 HONG KONG Two existing runways will be saturated by 2020 HONG KONG needs to make significant investments in its transport infrastructure including possibly building a third runway at Chek Lap Kok airport—to deal with a growing economy and regional competition, the South
      FILE PHOTO  -  439 words
    • 485 15 BEIJING Move is meant to prepare banks for competition from foreign lenders Reuters CHINA has set up a cabinet- level group to push reforms A of top state-owned banks, including plans to inject capi»tal to help them float shares, *and prepare them for greater
      Reuters  -  485 words
    • NOTE Book
      • 122 15 Bloomberg, AFP {BANGKOK] Thai stock regulators are probing possible price manipulation ofTPI Polene Pel shares, said PrasarnTrairatvorakul, secretary general of the Securities am! Exchange Commission. "We are investigating," he told reporters. "The investigation will be completed very soon." TPI Polene shares rose as high as
        Bloomberg,; AFP  -  122 words
      • 118 15 Reuters [BANGKOK] Thai Beverages PCL, the country's top maker of beer and whisky, plans to launch an initial public offering in the first quarter of next year, one of the offer's advisers said yesterday. "The group is in the process of reorganising and we
        Reuters  -  118 words
      • 114 15 Reuters [HONG KONG] The Hong Kong government said yesterday there was no substance to a report that lawyers had advised the Justice Department there were sufficient grounds to prosecute former financial chief Antony Leung. The South China Morning Post, citing unidentified sources, said
        Reuters  -  114 words
      • 73 15 Reuters [HONGKONG] Less than 15 per cent of Hong Kong investors believe analysts and their firms provide sufficient disclosure of potential conflicts of interests between research and investment banking, the markets regulator said on Tuesday. The territory's Securities and Futures Commission, which polled 361 Individual and
        Reuters  -  73 words
    • 232 15 BEIJING It'll group 20b yuan of property in HK, China and Thailand Bloomberg CHINA Resources Holdings, a holding company controlled by China's Commerce Ministry, said it plans to form the mainland's first listed property trust by pooling 20 billion yuan
      Bloomberg  -  232 words
  • Page 14 Advertisements
    • 911 14 lICUPSML cttpsal Industries (Holdings) Limltad MM i (InooiponMd in th« Republic of Singapon) Announcement of Unaudited Results For The Third Quarter Ended 30 September 2003 Tlte Board of Dtrectora of CHpaallnduelrteefHokflnge) Limited loploaeed to announce the unaudited reeulta of the Group for the third quarter ended 30 September 2003 ae
      911 words
    • 197 14 IN THE MATTER OF THE COMPANIES ACT. CAP. 50 AND IN THE MATTER OF tCO INVESTMENT (SINGAPORE) PRIVATE LIMITED (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF HNAL MEETMG NOTICE IS HEREBY QIVEN pursuant to Section 308(1) of «w Companies Act Cap. 50 thai ma Final MaUng of Mambara of toe Company
      197 words
    • 149 14 IN THE MATTER OF THE COMPANIES ACT. CAP. 50 AND IN THE MATTER OF LEE SERVICE CONSTRUCTION PTE LTD (In Creditors' Voluntary Liquidation) NOTICE OF RESOLUTION At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 18 Croes Street (KJ6-01 Marsh A McLennan Centre Singapore *****3
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  • Page 15 Advertisements
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      253 words

  • REGION world
    • 500 16 TOKYO Capital expenditures projected to rise 85% this year on strong consumer electronics demand AFTER a massive facelift which included job cuts, asset sales and Joint ventures, Japan's top players are now back with a fist full of cash and a steady
      500 words
    • 456 16 Entertainer dipping into assets to pay off US$200m debt AFP [WASHINGTON] Besieged by myriad lawsuits and a fabulously expensive lifestyle Michael Jackson's advisers recently recommended he limit to US$l million a month, the Gloved One has been borrowing from his
      AFP; AP  -  456 words
    • 364 16 SEOUL Reuters SOUTH Korea's Hynix Semiconductor is set to sign a preliminary deal to sell non-core assets it has valued at around US$6OO million to a fund at Citigroup within a month's time, a source close to the talks said yesterday.
      Reuters  -  364 words
    • 203 16 LONDON Report comes amid renewed talk of merger among German banks FT US BANKS eyeing up potential acquisitions in Germany have been told that the government would not stand in the way of any bid for a domestic player, the Financial Times
      FT  -  203 words
  • Page 16 Advertisements

  • WORLD news
    • 583 17 WASHINGTON Consumer spending holds steady; incomes grow modestly AP, Reuters, Bloomberg, AFP THE US manufacturers saw orders for big-ticket goods go up in October by the largest amount in more than a year, an encouraging sign that the economic recovery was on
      AP,; Reuters,; Bloomberg,; AFP; AFP FILE PHOTO  -  583 words
    • 311 17 NEW YORK Reuters THE earnings express is losing steam. After hefty dou-ble-digit profit gains each quarter this year, the pace of earnings improvement is set to fall off sharply early next year, according to a study on Tuesday by Reuters Research. Operating
      Reuters  -  311 words
    • 298 17 NEW YORK NYT THE mutual fund scandal claimed its first corporate casualty on Tuesday when federal banking regulators ordered the shutdown of the Security Trust Co, a key intermediary in the processing of mutual fund trades by pension plans. New York
      NYT  -  298 words
    • 179 17 Bloomberg [NEW YORK] State and federal prosecutors are investigating an undisclosed arrangement between Citigroup's mutual funds and a vendor that provided transfer-agent services. Thomas Jones, Citigroup Asset Management chairman and chief executive officer, said in a memo to senior managers that an internal investigation
      Bloomberg  -  179 words
    • WORLD Watch
      • 72 17 Bloomberg [BRUSSELS] The euro region's currentaocooat surptais widened to a 10-month high in September; boosted by a record trade swytna, the European Central Bank said. Tlie current account sorptts rose to 7.7 bfflkM euros (5515.7 billion), adjusted** seasonal swings, from a revised 2.7 billion euros
        Bloomberg  -  72 words
      • 61 17 Beckers (LONDON] Britain moved yesterday to tigftten accounting standards by giving regulators greater powers to investigate firms and forcing directors feo state that they have not withheld information from auditors. Keen to avoid an Eaton-type scmwMfe Britain, the government also said tax authorities would be
        Beckers  -  61 words
      • 100 17 Reuters [SANTA ANA, California] A California jodge on Tuesday delayed for a second day a hearing for anew trial in the wllfeiy watered contract dispalebetween FlpTtmnirs IntpmaHnnal and TWkman Pqrtftyr Tqc as negotiations continued on a possible settlement Orange Country Superior Court Judge Gregory
        Reuters  -  100 words
      • 53 17 Reuters [SYDNEY] Ite Australian Competition and Consigner Ctxmnfaskn (ACCC) yesterday opposed Asia-Pacific soft drink bottler Coca-CdaAmatil Lid's plans to buy privately owned juke makerftertUJlj Coca-Cola had been in advanced talks tt)i%derrifi3t up to A*4oo million million). ACCCsiAd#* potential deal was likely to rednm and lead
        Reuters  -  53 words
    • 300 18 NYT (LOS ANGELES] Jeffrey Clarke, a leader of the management that put the operations of HewlettPackard (HP) and Compaq Computer together to the wake of their contentious merger, resigned unexpectedly on Tuesday. Mr Clarke, the former chief financial officer of Compaq,
      NYT  -  300 words
  • 726 17 Transaction date: Nov 26 *»■*>■»■ 1 a— O-nj nmkmmm m a— Of Mywr 50c OJB 1.040 -0010 NOl<» 0.37 UW *0 010 <lC 477 UOO AIM OCBC &7B 11.700 *0.100 CjptaUnd 120 ISO *0.010 0U€ 0.47 USD (hart SanKand 26c 1JS 1410 *0470 P«r*<—y H 2Sc MB 0330 <0.020
    726 words
  • 578 17 BONDS WARRANTS Tel IM Vet Can bar to 'fil Cede C—pt M» f—I —la M» lw la» KM AST1W040S21 225 13 112 1 14 I 157 7 3697 Aorta Ltd WM1116 1 1 50 437 950 U 3602 AmukVMKOCIO IIS 2 10 1 33 13 N 3603 AmvtrongW040S20 6 5
    578 words
  • Article, Illustration
    981 17 Transaction date: Nov 26 AHel* >*F 9wt 1-S)* l*v »I|* □fTBRBAMZ CROSS RATES t v *i r a an w m* im m m mn m» n —< wn %m n— m tostMu 0 944 5.971 OulOI 15*9 ***** CUM 1787 1652 2.734 U27 4L60 39.957 1239 4464 0.944
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  • 6 18 Transaction date: Nov 26
    6 words
  • 58 18 sum m Imrn «m Mr lmom o»m» n> «tm m m f, w- r— u.hp m. o. r*i3 tm> 20M COCS Dwnonk UBOCO #0)5 BDJUSTecti US740 fOH BMSOSpom UJ555 Ml 6SV500 USS270 M50 *50 tin arm U596S0 mm 1230 ess snrrrtoo t7« a irao 1715 1712 1715 1MB
    58 words
  • 2 18
    2 words
  • 230 18 B-Mk M Lai M 0 1 ImIOmM M» H> CrtW H Ka mSTL, cLi M.W- fw J fi-i* cvr m 13 If) 91 ton AVIenrangt A2Sc AIMcd -1 44 117 IK 1«5 1«7 JO U S4 7.1 4*3 (001 mm 25 K t 22H 6002 Cheung KonaSOc HK17B0
    230 words
  • Page 18 Advertisements
    • 47 18 AdemaTSPIGUCT Regional Agent, Showroom I Service Centre: AUDEMARS PIGUET (SINGAPORE) PRIVATE LIMITED. cortinawatch J 501 Orchard Road #03-10/11 Wheelock Place Singapore *****0. Tel: 6238 6678 Fax: 6238 6676. Espac* Routine NIUmIi Walk Tel: «33t 1728 I Internet: http://www.audemarspifuet.con Paragon Tel: 6135 OM4 Raffles City Tel: «IJ» »185
      47 words

  • BizIT
    • 735 19  -  BT exclusive The aim is to make Singapore its global logic IC testing hub, Infineon's Asia-Pacific president Loh Kin Wah tells Raju Chellam Raju Chellam European semicon giant Infineon Technologies AG wants to make Singapore its global testbed for logic ICs (integrated circuits) and
      735 words
    • 356 19  -  By Raju Chellam WHICH company will win the billion-dollar race to build the next generation of chips? The current state of the art is semiconductors made on 130nm (nanometre) technology (a nanometre is a billionth of a metre). The next step is
      356 words
    • 193 19 Reuters [SAN FRANCISCO} Worldwide sales of computer servers rose 2 per cent in the the third quarter from a year earlier, driven by demand for machines that use standard microprocessors such as those made by Intel Corp and Advanced Micro Devices Inc,
      Reuters  -  193 words
    • 839 21  -  IT comment INFOTECH Sales have been anaemic,but a growing attraction for non-voice apps bodes well for the PDA market kenneth james Gotta admit it, grown men do behave like kids when they're showing off their latest toys. Spotting Zu, a longtime
      839 words
    • 593 21 It may move two places to become the fifth-biggest PC maker next year Bloomberg [TAIPEI] Acer Inc, Taiwan's biggest maker of personal computers sold under a manufacturer's own brand, forecast a 40 per cent gain in sales next year, helped by a return
      Bloomberg  -  593 words
  • 1170 19 SXCOM FUTURES Not MlB Maw (CM* prim) gllgcwteAtf Low mi tt—H) MwSt Bjc» 206.00 'mm s 208.50 MiMKcMMItf tow Sett (taaws) Manst OK 03 QLSO ***** 119.50 100 *25 Jm 04 1*75 118.75 1*75 25 2425 Fafc 04 119.00 119.00 119.00 25 2*25 Mar 04 120.75 118.00 119.75 525
    1,170 words

  • Page 20 Advertisements
    • 132 20 I INTRODUCING I I ANOTHER I I REVOLUTIONARY I I CONCEPT FROM I I CANON. I IKE 8-HOUR Wish there was an easier way to get the clay's work done on time? Canon Total Office Solutions will free you from mindless repetitive tasks, allowing you to focus on real work.
      132 words


  • Page 22 Advertisements
    • 1025 22 Lee-neex, The performance advantage that Linux ProUant servers, Ita- Lee-nux, Lee-nooks, Lee-nucks. has over competing operating environ- nium 2-based HP In- Intel Offers an online lest Drive Site Which ments is equally compelling, as applica- tegrity servers, and Customers COH USe tO explore performance Whichever way you choose to pronounce
      1,025 words

  • SHIPPING TIMES
    • 246 23 Reuters *JE Baltic Dry Index rqse 64 points to 4257, the Otitic Capesize Index fctße 89 points to 6142, the frdticPanamax Index f9ee 53 points to 4173 and tile Baltic Handymax Index rose 453 points to *****. TIKB-CBABIBBi ♦Formosabulk Brave Xbuilt 2001) *****6 dwt delivery Hansaport 1/3 December
      Reuters  -  246 words
    • 635 23  -  Potential for expansion with region's coming free trade pact By Donald Urquhart [SINGAPORE] Ro-ro specialist Hual is keeping a close eye on the potential expansion of the Asian car export market as the region's free trade regime inches closer, coinciding with PSA Corporation's ambition
      635 words
    • 223 23 SCX 000 M—24 s» wCHOfhhora 033 unch 959 QlifailM» 045 unch 4323 QaohMmm—A53 -0.02 1732 OWTDMNbudon 0.56 inh 0 EsaHkta 035 -035 747 ftwrfitUnkl 009 0.01 199 OlM unch 0 iMHofctngs 0.77 OjOI 1700 HMn 022 -001 1413 UniCorp 5.40 OK «1« uSrayManrw .0.47 tndt 3703 MH)Corp 0.4O
      223 words
    • 279 23 Quarantine agents process 3.800 passengers and crew of Star Princess AFP [SYDNEY] Australia's draconian quarantine regime faced one of its biggest challenges ever yesterday with the arrival in Sydney of the megaliner Star Princess and its 3,800 passengers and crew. The Australian Quarantine
      AFP; AP  -  279 words
    • 442 23 City, federal officials keeping public in the dark, they claim NYT I NEW YORK] Frustration that the cause of last month's fatal Staten Island ferry crash remains unexplained boiled over at a City Council hearing on Tuesday, as some council members complained city
      NYT  -  442 words
    • 179 23 Bloomberg [NEW YORK] The US Coast Guard said a tanker carrying Russian fuel is undergoing repairs after being denied entry to New York harbour for a second time. The vessel, the Liberianflagged Kapitan Koziar, was prevented from entering last Friday after failing
      Bloomberg  -  179 words
    • 355 23  -  Recent spate of regional attacks heightens fears if maritime disaster By Beth Jinks [SINGAPORE] Seven armed pirates boarded and robbed a tanker just outside Singapore's eastern port limits last week in one of the closest incidents on recent record. Wielding long
      355 words
    • 208 23 [SINGAPORE] Neptune Orient Lines (NOL) has sold a US office building in Jersey City for a higher-than-expected US$24 million in the latest divestment of its non-shipping and logistics assets. The sale will add US$5.3 million to NOL's FY2003 bottom line, made up of
      208 words
    • 762 24  -  NEWBUILDS By David Hughes IF you ask those in the classification societies who know about such things as whether there is an absolutely solid case for making double hulls mandatory for bulk carriers the answer is usually, "No". Ask the same people whether there is any
      FILE PHOTO  -  762 words
    • 3 24
      3 words
    • 3 28 THEBUSINESSTIMES
      3 words
    • SHIPS IN PORT
      • 425 29 Vaaad Voy Wo Bfth Arrival Departure JURONG POUT/MULTI-PURPOSE TERMINAL CITRAAGUNG JBN03 J2 A/SIDE 27/11 0700 INDAH MULIA JBN02 J8 A/SIDE 27/11 0400 KIMTRANS XPR VE112 J15 A/SIDE 27/11 1000 MARC0P0L0228 01/03J J3 A/SIDE 27/11 0630 MERAK 12 J5 A/SIDE 27/11 0600 SUMBER MAS 8 2171 J15 A/SIDE 27/11
        425 words
      • 2 29
        2 words
      • 158 29 Dm 6 Thailand: King's Birthday. Dm 10 Thailand: Constitution Day. DM 23 Japan: Emperor's Birthday. Dm 28 Singapore: Christmas Day. Philippines: Christmas Day. Malaysia: Christmas Day. Korea: Christmas Day. Hongkong: Christmas Day. Australia: Christmas Day. Brazil: Christmas Day. Brunei Christmas Day. Canada: Christmas Day. France: Christmas Day. Germany:
        158 words
      • 821 29 THIS report, compiled by Cockett Ma rtne OU Ltd. shows price ranges In US dollars Instead of single prices for a more comprehensive description of the market Prices shown are baaed on averagesized stem. Market movements are indicated. The Cockett Bunker Price Index change and the
        821 words
      • 10 29 Ufr-I H III! -ii V t
        10 words
    • AIR & LAND transport
      • 470 30 Domestic carrier to compete with Virgin Blue, which has 30% of market Bloomberg [MELBOURNE] Qantas Airways, Australia's biggest airline, said its new domestic discount carrier would be based in Melbourne and would offer cheaper fares (han rival Virgin Blue Holdings. iv The name
        Bloomberg  -  470 words
      • 326 30 Most are current employees, accused of smuggling cocaine and marijuana LAT-WP (NEW YORK] A massive narcotics smuggling operation that exploited airport security measures was broken up on Tuesday with the arrest of 25 people, mostly current or former employees at John F
        LAT-WP  -  326 words
      • 208 30 Bloomberg [TEL AVIV] Deutsche Lufthansa, Europe's third-big-gest airline, and three other foreign carriers are being asked by Israel's Civil Aviation Administration to reduce the number of flights serving the country. Lufthansa, based in Cologne, Germany, is carrying more passengers than the
        Bloomberg  -  208 words
      • 396 30 That's credit for 22 more years than he actually worked with the company NYT [ATLANTA] Delta Air Lines chief executive Leo Mullin worked at the company six years and eight months, but that's not the way it will look when he
        NYT  -  396 words
      • 215 30 Reuters [BRUSSELS] Belgium's regional Walloon region, which controls Ryanair's Charleroi hub that is the subject of a EU (European Union) state aid probe, has asked Belgian Prime Minister Guy Verhofstadt to plead its case with the Commission. The European Commission is completing a state
        Reuters  -  215 words
      • 386 30 C$650m plan offers greater chance of success than Cerberus offer: CFO Bloomberg [CALGARY] Air Canada, the country's biggest airline, said it has applied for approval of an investment plan in the insolvent carrier by Victor Li, a son of Hong Kong billionaire
        Bloomberg  -  386 words
      • 241 30 Reuters [ZURICH] Indebted flag carrier Swiss International Air Lines is still in negotiations with creditors over a key financing package, its chief executive said, adding he was confident a deal would be reached. Chief executive Andre Dose told Swiss television DRS on
        Reuters; REUTERS  -  241 words
      • 144 30 AP [PORT WORTH, Texas] The parent of American Airlines, the world's largest carrier, has told federal securities regulators it could issue up to US$3 billion in additional stock and debt. AMR Corp, which narrowly avoided bankruptcy this year, filed a shelf registration with the
        AP  -  144 words
      • LOO Book
        • 68 30 AFP [BEIJING] China Eastern Airlines will launch regular flights between Kunming in southwest China's Yunnan province to Siem Reap in Cambodia and to Osaka In Japan from December this year, state media said yesterday. Flights to Cambodia will be bi-weekly on Tuesday and
          AFP  -  68 words
        • 82 30 AFP [AUCKLAND] An "overheard remark" yesterday afternoon prompted a security alert on aircraft flying to New Zealand from Australia, Air New Zealand said onTueeday in a statement An Air New Zealand flight from Brisbane to Auckland was kept circling in the air for 40 minutes while
          AFP  -  82 words
        • 74 30 Reuters [LONDON] British Airways said it would start flying to Algeria in January, joining a growing number of airlines flying to the oil azid gas rich North African country as rebel violence falls. BA said it would launch its new service to the
          Reuters  -  74 words
      • 197 30 AMJt COOfS AA Amncm Agtnm (AAIA Af: Ar frma (A/ft). Al Ar Inli IMC) AY Firnm Oy (FH) AZ MMiViwifini Hi ftr—n VmiT">Wrl¥fY (Bm K Bmun ff mtlt# Attm (BBC).» **0 **m**ms*md(mAi.Kßu*mhami (BOU)mfVAAn~sCaw*(BVA/.CAArCMm (CCA). Or AmmKmitonmmtmUm (CKS). Ct Omm AttmHja(CAL).CS Atttovmrn *c<m») CV Cvpote McMnMS*fCU) Of
        197 words
  • Page 23 Advertisements
    • 27 23 Qantas' discount airline to offer lowest fares m ai m < Air Canada seeks not! for Victor Li plan back pac^e \E IV BUILDS Double-iiull bulkers seem inevitable
      27 words

  • Page 24 Advertisements
    • 592 24 1 IMPORT I I NORTH AMERICA F~ll AUSTRALIA/NEW ZEALAND I T 9——i |AU»THAUAAStAIXPBM»«AAiQ mm. vot m sm m i PIOIDUOYD SOUTHAMPTON 37W45 12/11 M/ll 12/1) §1 55 2 3L_ OOQCMM ***** 14/11 17/11 M/ 11 MB OEE 17/11 11/11 11/11 IS/11 M/ 11 M/ 11 PtO NDUOYft STUYVBANT MW47 24/11
      592 words
    • 390 24 Urn wrvicw lymliJ by Mambars of R«gi*y of Accredited Shipping Agmb, Singapore Skipping A*ocialion M*mben of ti* Singapore logirta Awociohon ULY LM MALI vor m m eu P.iuks swb am MddComr 743 A 09/12 07/12 16/12 PrinoMlity 1103 12/12 14/12 23/12 Mold Star 544 A 18/12 20/12 29/12 IMI I
      390 words

  • Page 25 Advertisements
    • 871 25 to usaisax service) Ivasa vot Isntn lua'oam hop chi ax m» m. mtc ambmm imi u/11 io/ii n/11 n/n n/n 13/11 «/n a/n io/h AfiCAMAM W io/ii is/h »/n w/n w/11 w/u »/ii w7la oi/oi AftSCOTUMD IHf 17/11 oi/oi IS/5T 00/01 00/01 00/01 —IlZfiJ—lIZL—littl I4ZIL mjgugm not M/n oi/oi 11/01
      871 words
    • 751 25 GENERAL AGENTS H SWGAPOfIE: 80 ROMNSON fID ***** SALES/BKGS 78. 64X*****43 FAX: 82X5X1/14 COSTAR SHIPPING PTE LTD SMQAPOREOOm OUTttAflDfc/L) *****802 *****325,75 Cfl NO **********0 M TEL *****900 P*lA*4 MHAROPG| *****786 *****JT5M8 T/SHPDEP *****825 *****3W46 J®«w*Gffee coNvemcm *****850 *****208 COSTMMiBCBMSUiBHD TH. Q7.353 8186 FAXQ7-X***** t 1 HLY CONTAINERISED i n^ 1
      751 words
    • 285 25 I Tir^ ißlu 8B 111 4F Ha I IwufPiMUß lug n/ii 24/11 H/ii wii n/12 n/12 fHIHIHPK 112 ffTll tlgZ oMMSftt oig j&ii 01/1204/12\uni M/ii SSn m Vl2 I gull ImiETWAOuM loig li7/iiltXi In/ill 13/12 lii/121iy/i»| rHmtmng hs ivh I is/11 *TSl[*»Ultl «ssa w 1 M IB W M HSI
      285 words

  • Page 26 Advertisements
    • 515 26 I HAft ■iauw .momma*t mrm* wuu mmm M-muu <nw»«i«i—i.oni IS2I WCLIVIMw uuoui—itjuiowiWwioimi hiiiwt wufc imp itt mmrnmm- i -s —<W "W =58= y "Sr=z 55r -i- to S BH -M —sanBwfrHf ilWf I H/ll I IVII 07/81 lt/H W1 H/01 IIBBPWBWHiInWI >w-■■ WWBIWBWTWHWI vtssa VOY sxGAfotc immn ■owtovu mmm mu
      515 words
    • 532 26 WX WAN HA f I'LINES *7 T«fc 622® ISM F«C *****10 INTRODUCING:EVEWWEDNESDAY PUSkn SHANGHAI V CALLING SIN EVERY FRIDAY For mom details, call HOTUNE: 6226 1588/ 1800-*****00 m NOtTRANS SHIPPING AGENCIES iST A/n/YTRANS 29 Inf I Soilness Pork *05-05 Acer lido Tower I $-*****3 V 1 T#| *****799 Fox: *****005
      532 words
    • 291 26 BSA x Q— MYANMA FIVE STAR UNE (IpwNrfMlN Ute|firYo«M msa vot so m m m pmm Hl* su hp*-m sotw su HAUTSU: MSSTIAS SOPPING ABBKRS KUL 03-*****900 Mtt: 03-3170*101 PBfc M-M***** ACCIPTIiI COIVEITIOIAI CIO msa m m sm m m nc wawum i su sui at UOIHttIT in su su
      291 words

  • Page 27 Advertisements
    • 885 27 Iviisn vbY kmh I hk6 im wd bxt 9aa [dmm toe CAM mo PCIMI3 WV SKIP 30/11 »/ll 09/1J 10/13 16/13 19/12 KAN KMMAN KU4O W» SKIP 09/13 SKf 17/13 It/11 34/1J 36/11 ■AN LOtfSTAN KIM 14 Wf HUP 16/11 IS/11 15/13 36/13 03/01 04/01 ■AN lATTAJH KIM 13 HOP
      885 words
    • 515 27 UK CONTINENT SERVICE Lwflngfcr KALMA RTM/ATW/BMNAJK/NAN Lotli llnppM. E7W. OidanMa MIDDLE-EAST SERVICE Loading tor J FRIEND DBl/ABU/DOH/BRN/DMM/KWT J SAFE ADN/HDO/JDH PALMER DBl/ABU/DOH/BRN/DMM/KWT tOKteangMOW. E>W. MMyM. UdonM USA SERVICE Loadhgkr SEABEE CAM/NFK/SAV/NOC Xoadi E/W. IndorwM F.E./S.E.A. SERVICES S'pof* LoacSng tor J SPRING INC/BSN XoKto E. MMyM. IndonMia OTHER SERVICES Tramping for
      515 words
    • 479 27 jfisa m m. m M —«a —sii siii ssfc=jg=dfc=sfc =}g=-^i=— H», -9 WH-MH-rifiii im am a/n ■^■HffKnvnVßSffVinnHHH MB 8 Mi jMIII ljlll lip»M #|f==i=^^fc IiSBK I !C3 I Bfli 1 Sfli I^BTir^SF pil:lUU^llllti.l|.lil^lJll^,lU^ j I iii=«==»==»= fflltillffl H/H "j 'iy'r t gf 'i""|"iT —jßh- -®r_88/K Tl/li u/ii ffin _il/li ~td&~
      479 words

  • Page 28 Advertisements
    • 32 28 Here Comes A -v SUVA, LAUTOKE Check it out on Pa" A New Weekly Express Service to NHAVA SHEVA, India has just been inaugurated. f Turn to Pag* 4 for mora detailt.V^
      32 words

  • Page 29 Miscellaneous
    • 132 29 FOR 7AM 27 Nov 2003 <BSS^—— ftp r _>y \>SBHS(Fw^^ i £*tS£m 9 r .*|4|rafe|»> /^TB^SBggjg^^t-m• V. €M Issued by Meteorological Service Division,NEA LEGEND: R Thunderstorm Wind speed symbols Showers O Full circle w/o line indicates calm or light and variable winds one half flee he represents 5 knots Cloudy
      132 words