The Business Times, 20 May 2004

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Total Pages: 24
1 24 The Business Times
  • 17 1 THE BUSINESS TIMES MITA (P) 023/03/2004 85C SINGAPORE I Intei."o/ h .tp.//business-times.asial .com.sg THURSDAY, MAY 20, 2004
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  • 76 1 sn 1,765.26 (+42.46) ST INDEX FUTURES 1,765.00 (+43.00) SIMSCI 215.30 (+5.70) SIMSCI FUTURES 215.40 (+5.80) Wednesday Change KLSE ("OMP 793.83 +1(1.56 NIKKEI 225 10.967.74 +256.65 HANG SENG 11.469.41 +397.CJ2 SET INDEX .614.99 +32.48 JAKARTA COMP 7U6.80 +30.65 MANILA COMP l,468;i2 -7.76 TAIPEI WPI 5,***** +302.90 SEOIXCOMP ***** +35.96 SHENZHEN
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  • 77 1 FOREX RATES US$ S$ USS (S$ per 1,'SS) 1.715 £(US$/S$ per J£) 1.775 3.044 El'R()(l'SS/SS/E). 1.201 2.059 YEN 112.8 65.80 RM 3.800 2.216 HKS 7.791 4.543 BAHT 40.72 23.74 RI'PIAH 9,048 5,276 RENMINBI 8.299 4 840 INDIAN RUPEE..... 45.29 26.41 AS 1.427 0.832 NZS 1.638 0.955 PRIME RATES SINGAPORE
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  • 764 1  -  Recent events spur relook by entrenched investors From Shoeb Kagda in Jakarta INDONESIA'S battle to reverse falling direct investments over the past five years has become that much tougher as even existing investors are now considering an exit. Analysts fear the economy could
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  • 497 1  -  Auditor KPMG highlights weakness in internal controls By Tang Weng Fai [SINGAPORE] Chip tester ST Assembly Test Services (Stats) filed documents with the Securities Exchange Commission (SEC) this week highlighting weakness in its internal accounting controls and saying it is looking at boosting
    497 words
  • 388 1  -  Since 1997, the Sing has slid 17% against the greenback By Chuang Peck Ming [SINGAPORE] The Singapore dollar is still weaker 17 per cent down since 1997 against the US currency, notwithstanding the Monetary Authority of Singapore's recent move to tighten
    388 words
  • Page 1 Advertisements
    • 62 1 INSIDE ANOTHER TERM President Bush nominates Alan Greenspan for fifth term as Fed chairman Pg2 EXEC SUITE Turf City renews leases with key tenants like Giant, McDonald's PgB COMPANIES Tech stocks lose shine despite rosy outlook Pg3 NEW INDIA PM Former finance minister Manmohan Singh chosen to be India's prime
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    • 13 1 mm J 8 I fl Pi B1 1 "pipf S||||gL.. juk^ store 8
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  • NEXT page
    • 489 2 Mainland telco may even end up taking over the HK firm ahead of a listing [HONG KONG] PCCW, the Hong Kong telecommunications group, and China Netcom, one of the "Big Four" state-owned phone groups, are in advanced talks that could result in
      489 words
    • 833 2 Move comes just one month before Fed chief's term expires NYT [WASHINGTON] President George W Bush formally nominated Alan Greenspan for a fifth four-year term as chairman of the Federal Reserve, fulfilling a pledge Mr Bush made last year and reassuring
      NYT; AP  -  833 words
    • 243 2  -  Govt will review MAS Act to boost accountability and transparency By Chuang Peck Ming [SINGAPORE] The government does not see an immediate need to change the Monetary Authority of Singapore's current management structure, though the International Monetary Fund and World Bank
      243 words
  • Page 2 Advertisements
    • 148 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: SimonneToh T: +65 6535 3382 F: +65 6535 3991 E: singapore@ocra.com.sg
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    • 445 2 ■■I" OinMceMNWMZI IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF MEDECHAIN PTE LTD (In Member*' Voluntary Liquidation) NOTICE OF RESOLUTIONS [Pursuant to Section 2M(2Xb)] At an Extraordinary General Meeting of the Company held at 5 Clementi Loop Singapore l29Bl6onthe 11 th day of May.
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    • 47 2 R V CO Insiders' trades. Rflraß WSm <7* Brokers' recommendations. |||jjj|| JflH 4?*"* Dividend table. Bffiffljjj mS The pages also cover £&kj transactions by KlfiHl jQQr W-JI directors and Eißil jPffjy substantial Hik|p 9R Mmm In other words, B you use. HHHHB ■Hi Jlf jM H-JIIMi HBP
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  • SINGAPORE companies
    • 535 3  -  Environment now harder to justify robust valuations, analysts say By Serena Ng THEY may have survived the dotcom bust, but network and systems integrators seem to have lost their lustre for investors, in spite of earnings turnarounds and expectations of higher information technology
      535 words
    • 287 3  -  By Wong Wei Kong WHILE the market awaits his next move on United Overseas Land, banking tycoon Wee Cho Yaw has tightened his grip on Haw Par Corp, another company important to his control of United Overseas Bank. The UOB chairman, through
      287 words
    • 808 3  -  HOCK lock siew wong wei kong IF Temasek Holdings has its way, it would be able to buy into a Singapore or overseas company just like any other global equity investor with little fuss or fanfare. But the reality is quite different.
      808 words
    • 667 4  -  They are forecast to post combined US$2-4b earnings this year By Ven Sreenivasan ASIAN airlines, which have been reporting strong profits in recent weeks, could see their current year earnings growth derailed by stubbornly high fuel prices. The International Air Transport Association
      AFP  -  667 words
    • 334 4  -  By Taila Krishnakumar MAINBOARD-LISTED supply chain management company Mentor Media yesterday unveiled an impressive three-fold surge in net profits to $16.6 million for the year ended March 31, thanks to a successful shift in product mix and a one-off gain of $8 million
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    • 298 4  -  By Joyce Koh AMTEK Engineering yesterday said its third-quarter earnings dipped 27 per cent to $5.8 million, while hard disk drive maker Brilliant Manufacturing posted a 38 per cent rise in second-quar-ter earnings to $7 million. Amtek, which designs and
      298 words
    • 311 5  -  By Kenneth Lim SHARES of GeneMedix became the local bourse's largest gainer after the biopharmaceutical company said it obtained its first patent for a fast-acting form of insulin, potentially opening the door to a multi-billion-dollar global insulin market. The Australian patent
      311 words
    • 177 5 Reuters [NEW YORK] Global Crossing, which revealed an accounting problem last month that threatened much-needed financing, said yesterday it had secured a US$lOO million bridging loan from an affiliate of controlling shareholder ST Telemedia. The telecommunications company, which emerged from bankruptcy about five months ago,
      Reuters  -  177 words
    • COMPANY Briefs
      • 73 5 PRECISION plastic injection components maker Fu Yu Corporation said the Securities Commission of Malaysia and the Foreign Investment Committee have approved the listing application by its Malaysian subsidiary LCTH Corp Bhd. LCTH will need to allocate at least 30 million shares to the Malaysian
        73 words
      • 53 5 CAPITALAND said it has subscribed for 58.16 million new stapled securities in its listed Australian entity Australand Property Group. Capita Land will pay A 594.8 million (*****.2 million) for the stapled securities. The developer will hold 57.99 per cent of the stapled securities in Australand
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      • 54 5 MOTOR group Jardine Cycle Carriage has raised its stake in its Indonesian associate PT Astra International from 40.18 per cent to 40.39 per cent. Jardine C&C bought the 8.75 million shares from the open market at 5,696 rupiah per share, or a total of 49.8
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      • 62 5 CRAFT Print International swung back into the black with an interim net profit of $203,000, compared with a loss of $269,000 previously, thanks to higher value orders received. Revenues, however, slipped 4.7 per cent to $11.4 million. Craft Print warned that the continuing increase
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    • 427 5  -  It will gain about $1.2m from the deal which reduces its stake to 20.8% By Serena Ng DIVERSIFIED trading group Intraco yesterday disposed of a 29.9 per cent stake in subsidiary Teledata (Singapore) for around $6.2 million, cutting its shareholding in the
      Source: Bloomberg  -  427 words
  • Page 3 Advertisements
    • 76 3 With more people more places you can always knowledge on time, every time, without wasting time. From now till 31 July, every DHL Express shipment sent within Asia Pacific gives you a chance of winning a pair of return flights to any Asia Pacific destination of your choice. And there
      76 words

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  • Page 4 Advertisements
    • 1950 4 1 1— IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF SUMMIT MERCHANTS PTE LTD (COMPANY NO. *****4166K) (In Members' Voluntary Liquidation) NOTICE OF RESOLUTIONS At on Extraordinary General Meeting of the Company held at Chase Plaza 12th Floor Jl Jena Sudirman Kav 21 Jakarta
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  • Page 5 Advertisements
    • 124 5 BECOME A COACH TRAIN AS A PERSONAL BUSINESS OR EXECUTIVE COACH WITH A LEADING GLOBAL COACHING ORGANISATION David Rock, Results' global CEO, adjunct professor at NYU and author of 'Personal Best' is in Singapore to present a special Coaching Workshop to those interested in training as a professional coach or
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  • SINGAPORE markets
    • Article, Illustration
      597 6  -  Compiled by VEN SREENIVASAN Raffles Medical Group May 19 dodos 38 cents IN Q1 '04, net earnings grew at 9.1 per cent on a 12.2 per cent rise in turnover. In line with our expectations, Raffles Hospital drove growth by posting a 23.2 per cent revenue gain. Patient
      Source: Bloomberg  -  597 words
    • 255 6  - TPV a good bet for the adventurous investor HOT STOCK WARRANT By Ven Sreenivasan MONITOR maker TPV Technology has just announced that it plans to boost its production capacity of thin-film-transistor liquid-crystal-display monitors by a third by the end of this year to meet rising demand. The company wants to
      Source: Bloomberg  -  255 words
    • 551 6  -  BT comment STOCKS r. sivanithy THANKS to an overnight rebound on Wall Street, a firm day for regional markets and weakness in the US dollar, the Straits Times Index yesterday shot up 42.46 points to 1,765.26, which, together with Tuesday's 22.47-point
      Source: Bloomberg  -  551 words
    • 593 6 Reuters [SINGAPORE] A rising yen and a rally in regional stock markets boosted Asian currencies yesterday but doubts persisted over whether these gains could be sustained. The Korean won was the big gainer as South Korean stocks rose nearly 5 per cent. The won was
      Reuters; AFP  -  593 words
    • TRADES TO WATCH
      • 52 6 STEVE Ting (right), the executive chairman of Frontline Technologies, yesterday bought 400,000 shares of the systems integrator at 14 cents apiece. The open market purchase raised his direct holding to 12.35 per cent from 12.3 per cent, Frontline shares ended half a cent higher at 14
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      • 74 6 THE executive chairman of Chip Eng Seng Corporation, Lim Tiam Seng, converted 5.71 million warrants into new shares at 12 cents each on May 17. This raised his direct stake in the construction group to 18.31 per cent from 17.28 per cent. Mr Lim
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      • 55 6 SIGVE BREKKE, chief executive officer of Total Access Communication (TAC), bought 35,000 shares of the Thai mobile communications service provider at around U552.39 per share on May 17. The open-market purchase took his total direct holding to 77,000 shares. TAC shares gained 15 US cents
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      • 72 6 THE chief executive officer of electronic waste recycler Citiraya, Ng Teck Lee, saw his deemed stake in the company rise to 27.14 per cent from 26.73 per cent through an open-market purchase of 2.5 million shares by Rich Nature Ltd on May 18. The shares were
        72 words
      • 79 6 PRIVATE company Pemscorp, a subsidiary of In-donesian-linked QAF, bought another 9 million shares of PSC Corporation on Monday this week, raising its stake in the company to 10 per cent from 9.34 per cent. Based on QAF's earlier filings, the latest purchase is likely
        79 words
      • 79 6  -  Compiled by SERENA NG A SUBSTANTIAL shareholder of Progen Holdings, Yong Kang International, sold a total of 3 million shares in married deals on Monday and Tuesday this week at 13 cents per share. The transactions reduced Yong Kang's direct stake in Progen to 8.66
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    • Article, Illustration
      417 6 OTHER SINGAPORE INDICES May 19 VALUE CLOSE BTOB/OS -669.00 +312.00 BTCADI -*****.00 4-241.00 BTlO-dayMA -*****.00 -67.00 A1-S6 Equities 473.06 -t-11.51 SCI Equities Elect 156.79 +4.70 S6 Equities Flw 1463.11 +24.37 SG Equities Prop 396.26 +9.15 SIMSCI 215.30 +5.70 SiMSCI Futures 215.40 +5.80 Stock* Volume Teledata5c 206,241,000 SingTel 15c 30,950,000 ChinaCast
      417 words

  • BLUE chips
    • 836 7  -  WONG WEI KONG looks at why the market is not excited over the telco WONG WEI KONG WHAT now for the biggest stock on the Singapore Exchange? Despite reporting record earnings on the back of a successful regional strategy, Singapore Telecommunications has seen its
      FILE PHOTO  -  836 words
  • Page 7 Advertisements
    • 312 7 Yes! I want to subscribe to the BT Weekend edition for 12 months. iM Simply mail in or fax this form to 6744-4875 or call 6388-3838 now! jf "f lf jr Name (Df/Mr/Mrs/Ms) Sex: M F V# Si Delivery Address: Postal Code: 11 Dale of Birth: NRIC No: Email: j
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  • EXECUTIVE suite
    • 717 8  -  It's also seeking to renew its own lease on the 56-ha former racecourse By Kalpana Rashiwala [SINGAPORE] Regular visitors to Turf City may be reassured to know that the food and retail outlets are likely to stay for a while
      ARTHUR LEE  -  717 words
    • 249 8  -  It wants comments on existing roles for such centres in residential estates By Chia T-Chien THE Urban Redevelopment Authority (URA) is seeking public feedback on existing guidelines for childcare centres allowed in landed residential estates and has launched a webpage to gather it. There
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  • Page 8 Advertisements
    • 187 8 wmummmm 9,800 sq ft Retail Space. Subdivided into 8 Units of Lease High Annual Income $632,000 Per Annum Good Investment Returns 7.5% Net Yield Prominent Frontage Heavy Human Traffic Next to Hawker Centre, Wet Market, Community Centre, McDonald's Restaurant RB||Hj Sole Marketing Agent £99- fLftf.fi Credo Real Estate UUUU I
      187 words
    • 193 8 |ower 400 Locations Worldwide >• Ask us about Corporate, Individual or Group Instruction. Call Berlitz today 6733-7472 or visit www.berlitz.com jjj 501 Orchard Road #05-03/04 Wheelock Place Singapore *****0 Our qualified professionals A J can you with offshore British Virgin Islands Cayman Islands PKiTIiT|iTT7IS Bahamas Mauritius Hongkong 1 111 1
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    • 218 8 ORCHARD RD 77 H* 7 A SPECIALIST SHPG CTR AA %JL AW S Z: St Thomas Walk YOUTH PK ITT7I DEVONSHIRE RD EXETER RD R| o t A (N0.26): 7,904 sq ft 1 Total p|ot B (No 22) 21,227 sq ft J 29,131 sq ft > Zoned Residential, plot ratio
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    • 255 8 TO BE SOLD ON 25/5/04 fTue) 250 North Bridge Rd Raffles City Twr 6th fir Auditorium at 2.30pm 28 Cardiff Grove, Corner terr, 2,6465f, Original Parkview Apt, #02-04, 9365f 587 D Sembawang PI, Semi-d, *****f (Private Treaty) Mandarin Gardens, #16-50, Studio apt, 7355f, city view Golden Mile TWr #01, HDB
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  • SINGAPORE news
    • 546 9  -  Asia-Pacific, Japan post strongest performance with growth topping 20% By Raju Chellam US GIANT Hewlett-Packard Company yesterday reported record revenue of US$2O.l billion for its fiscal second quarter ended April 30, up 12 per cent year-on-year, due largely to strong growth
      546 words
    • 244 9  -  By Chen Huifen BARRIERS to successful change at corporate level are usually people-related rather than technical problems, a forum heard yesterday. PricewaterhouseCoopers (PwC) human resources services senior manager Ho Pui Chan, addressing a networking breakfast yesterday at Swissotel Merchant Court, said a
      244 words
    • 488 9  -  Region consuming more oil with higher manufacturing By Taila Krishnakumar SURGING oil prices may hurt Asia more than Western economies, says an analyst from Henderson Global investors. "Asia and other emerging markets are becoming greater consumers of oil as their manufacturing
      488 words
    • 284 9  -  EYE on the economy coe By Samuel Ee PREMIUMS for passenger car COEs remained strong despite what some observers have described as a relatively quiet market. A Category B certificate of entitlement for cars above 1,600 cc posted the highest increase, rising $1,290 to $27,990. Cat E
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    • 535 10  -  YESTERDAY IN PARLIAMENT Joint committee will also relook tender system for public projects By Chuang Peck Ming THE government is setting up a joint committee to conduct a thorough review of Singapore's current regulatory framework on construction safety, including a relook at the
      535 words
    • 342 10  -  By Taila Krishnakumar CITIBANK raised the bar yesterday in the battle among foreign banks for Singapore's affluent with its new Gold Card platform. The card, which takes effect today, now offers more exclusive privileges, VIP treatment and personalised services for users. Examples include a
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  • Page 9 Advertisements
    • 143 9 I I If iflP MWM «j p IL I 1 I &tfa&| I 1 Warn 1 —m I f I x w s| J I mM m p .1 8 I i 10 9 Mt e flP i -Sifflß-;! J £ftr lal Hi ■ff^PTffili!lrl^^Bl^Sit^rtE^S^T^Blßr £JT»T I^ET'V MIDDLEWARE IS IBM SOFTWARE.
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  • Article, Illustration
    1093 10 Transaction date: May 19 PTTERBAMK CROSS RATES AS CS Bmfa Euro HK$ Ind Rs Ruplah Yen Won RM NZ$ Pak Rs Peso SS Rand Sfr NTS Baht Pound USS Australia 0.972 5.815 0.584 5.459 31.737 63.400 0.790 8.222 2.663 1.148 40.468 39.063 1.202 4.711 0.897 23.482 28.531 0.395 0.701
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  • 1605 10 SICOM FUTURES May 19 RUBBER Futures (Closing prices) RSS1 (S cents/kg) Close Volume Open Month High Low Sett (tonnes) Interest Jun 04 234.75 Jul 04 233.00 Aug 04 233.50 Sep 04 232.25 Oct/Dec 04 ***** Jan/Mar 05 233.50 RSS 3 (US cents/kg) Volume Open Month High Low Sett (tonnes)
    1,605 words

  • REGIONAL news
    • 663 11 HONG KONG Investors sell a net US$2.7b of Taiwan stocks, partly due to the China factor Reuters FOREIGN investors have pulled at least US$5 billion from Asian stock markets in the past three weeks, with the hardest knock taken by Taiwan as
      Reuters  -  663 words
    • 390 11  -  Abdul Wahid Omar, Che Khalib Mohd Noh start on July 1 From Eddie Toh in Kuala Lumpur HEADS have started rolling even before the government has fully embraced meritocracy in the 40 listed govern-ment-linked companies. And change came none too soon at two
      390 words
    • 451 11  -  Industry group forecasts a 10-15% jump in sales From Eddie Toh in Kuala Lumpur MALAYSIA, which has overtaken Singapore as a bigger trading partner of the United States, is set to see another bumper year in sales of electronics by Malaysia-based American companies,
      451 words
    • 756 11 NEW DELHI He receives wide support from allies and the market Reuters AFP AP Bloomberg INDIA'S Congress party yesterday chose former finance minister Manmohan Singh to be prime minister after Italian-born party chief Sonia Gandhi rejected fresh appeals to take the job. "Manmohan
      Reuters; AFP; AP; Bloomberg  -  756 words
    • 369 11 COSTLIER OIL Move will help oil firms offset surge in oil prices AFP [BEIJING] China yesterday said it had raised diesel prices by up to 9 per cent in a bid to insulate local oil companies from soaring crude prices and protect its local
      AFP  -  369 words
    • 331 11 Bloomberg [HONG KONG] Cathay Pacific Airways Ltd, Asia's sixth-largest carrier, says its operating costs may rise by HK$l billion (Ss22o million) if the price of aviation fuel remains at current levels for the rest of this year. A one-cent increase in the price
      Bloomberg  -  331 words
    • NOTE Book
      • 85 11 AFP [JAKARTA] Indonesia is to become the global production base for Toyoto's new minivans, with the Japanese maker pumping US$3BO million into the project. The Bisnis Indonesia newspaper yesterday quoted Toyota managing officer Akira Okabe as saying that up to 70,000 of the multipurpose
        AFP  -  85 words
      • 94 11 Reuters Itvu/vLiiv Luwr uk] uu giant axxoriMODU is not selling its petrol stations in the east Malaysian states of Sabah and Sarawak, a spokesman said yesterday, denying a local newspaper report. The Malaysian Business Times said on Monday that ExxonMobil had approached Malaysian state oil
        Reuters  -  94 words
      • 77 11 AP [BANGKOK] Last-minute "differences" have emerged in Thailand's bid to purchase a 30 per cent stake in the Liverpool soccer club, Deputy Commerce Minister Pongsak Raktapongpaisarn said yesterday. A Thai team that was to have flown to Liverpool yesterday to finalise the deal has postponed the
        AP  -  77 words

  • EDITORIAL & opinion
    • 705 12  -  THE bottom line OPINION amit roy choudhury THE just-concluded Indian elections were described in this paper as the "greatest electoral show on earth". In keeping with the blockbuster status of the project which envisaged around 670 million people trooping into polling booths across the country to
      705 words
    • 78 12 'One thing has always been clear to me and that is, as I have often stated, that the post of prime minister has not been my aim.' Soma Gandhi who led her Congress Party to an unexpected election victory in India, announcing that she would 'humbly decline'
      78 words
    • 678 12 EDITORIAL THE Australian government's A$52 billion (S$62 billion) spending spree that handed tax cuts to middleincome earners, funding for families and a pension boost seems to point to an early election. It remains to be seen, however, if these giveaways will be enough to get Prime
      678 words
    • 1190 12  -  The spectre or promise of a common currency for the East Asian region will not go away. There are, however, major obstacles to be overcome From Anthony Rowley in Tokyo IF the idea of a common currency for East Asia was "not on
      AFP  -  1,190 words
  • Page 12 Miscellaneous
    • 213 12 CRYPTIC CROSSWORD ensues □OWN 14 Held back by employer? (8) Across: 1 Chamois, 5 1 Wi» addition land datactivas 16 nB 3 ?!°!f n u g; o 9 ia J®"* back in 3 bind? (7) stst© (9) 11 On th© spot, 12 Nois©, 13 2 Criminal activity of a third-
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  • WORLD news
    • 459 13 LONDON Britain plans to use study to call for speedy revival of stalled global trade talks Reuters PROTECTIONISM is costing the global economy US$5OO billion a year, according to a British study which the government will use to call for a speedy revival of stalled global
      Reuters  -  459 words
    • 420 13 Bloomberg AFP [SYDNEY] Kerry Packer remains Australia's richest person with a personal forof A 56.5 billion (Ss7.B Jnllion), according to BRW magazine's annual Rich 200 list,, Mr 66, is.tfee big- Jjest shareholder in gaming and media group Publishing and Broadcasting Ltd. !His
      Bloomberg; AFP  -  420 words
    • 299 13 LONDON Bloomberg Reuters OIL prices fell for a second day as speculators locked in profits, but traders said Middle East security fears and tight US gasoline supplies kept losses in check. The drop followed a 10 per cent, month-long gain that pushed New
      Bloomberg; Reuters  -  299 words
    • 266 13 WASHINGTON It may fall victim to clash between interest groups NYT THE US and Australia signed a free-trade agreement on Tuesday, and the Bush administration says it hopes Congress will pass the measure this summer. But the prospects for congressional approval are uncertain. The agreement
      NYT  -  266 words
    • 580 13 TOKYO But company says it is not rushing into anything Reuters SONY Corp is in exclusive negotiations with movie studio Metro-Goldwyn-May-er Inc on a possible takeover that could bolster its film library. Sony vice-chairman Howard Stringer said at company's
      Reuters; AP  -  580 words
    • 230 13  -  From Anthony Rowley y in Tokyo THE revised US-Japan Tax Treaty which was signed recently and which is due to be implemented this year represents the "most important tax treaty in the world", a senior US Treasury official said yesterday. It should serve as
      230 words
    • WORLD Watch
      • 69 13 Reuters [LONDON] The world's first embryonic stem cell bank opened in Britain yesterday, breaking new ground in one of the most controversial areas of medical research. It aims to store and supply stem cell lines strings of identical cells—for research and possible treatment
        Reuters  -  69 words
      • 94 13 LAT-WP [NEW YORK] Three of Wall Street's investment banks agreed on Tuesday to settle investigations into whether they improperly allocated shares in lucrative initial public offerings to customers that paid oversized trading commissions. Morgan Stanley, Deutsche Bank and Bear Stearns Co agreed to pay
        LAT-WP  -  94 words
      • 88 13 Reuters [NEW YORK] Starting next week, US auditors will have to use a new footnote before they sign off on their client's books. Currently, an audit firm must declare that the audit of its client's accounts had been performed according to "generally accepted auditing
        Reuters  -  88 words
      • 50 13 NYT [LUNL/UNJ rne Belgian drug ana cnemicais company UCB said on Tuesday that it would buy British biotechnology company Celltech Group for £1.53 billion (554.6 billion) and develop and market its promising arthritis drug. The deal will create Europe's second largest biopharmaceutical company behind Novo-Nordisk.—NYT
        NYT  -  50 words
      • 89 13 NYT [NEW YORK] French insurance company AXA prevailed in a close shareholder vote in New York on Tuesday, clearing the way for it to acquire the MONY Group, the American life insurance company, for US$l.5 billion despite opposition from institutional MONY shareholders
        NYT  -  89 words
  • Page 13 Advertisements
    • 755 13 WB m Raiffeisen Zentralbank Osterreich AG (RZB Group) Austria (Incorporated in Austria) Consolidated Balance Sheet Consolidated Income Statement 31.12.2003 31.12.2002 1/1 -31.12 1/1 -31.12 €in I,ooos €in I,ooos 2003 2002 in I,ooos in I,ooos Assets Cash reserve 2,811,825 2,006,502 Interest income 2,081,4*6 1,993,874 Loans and advances to Interest expense 1,218,623
      755 words

  • 4771 14 Transaction date: May 19 HONGKONG Vol HK Exchanges SCIearmg .15.20 0 60 7984 HKS *1- '000 HKR Int'l .2.13 0 14 8415 Hong Kong Electric 30.20 0.20 5621 Aeon Credit 4.60 unch 0 Hongkong Chinese 0.92 0.02 690 Aeon Stores .4.80 unch 186 Hongkong Chinese Ltd 0.92 0.02
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  • 2363 14 Transaction date: May 19 KUALA LUMPUR £r a,Soil ;H£ yol Genting 14.80 0.30 703 RM COM) George Kent .0.79 0.01 89 Globetroo.cs Tech 0.55 0.04 5979 ASM Realty 1.36 -0.01 122 5 k hd -J® Abric .0.65 0.06 241 Gold Bridge Engrg .0.43 002 224 ACP Industries .2.02 unch
    2,363 words
  • 886 14 Transaction date: May 19 SMmm Wl Ow Change StKt —> Wt Owe Omp Allgreen 50c 0.29 0.920 -0.025 NOL 1.63 2 030 +0.020 BIL Intl US20c 0.38 0.715 +0.015 OCBC 9.09 11.800 +0100 CaprtaLand 0.97 1.280 +0.020 Partway H 2Sc 0.80 1.140 +0080 Chart SemiCond 26c 1.20 1.390 +0.040
    886 words
  • 834 14 BONDS WARRANTS LEGEND Sesdaq stocks; Currency type indicated at end of warrant name for those traded in foreign currency. Exercise prices are quoted in fame currency as trading prices of respective main shares. c Convertible loan stocks, bonds and notes. u Unconvertible loan stocks, bonds and notes. Pram Expiry T«l
    834 words
  • Page 14 Advertisements
    • 28 14 H. iBl Jf ll ***** l Insiders'trades. Brokers'recommendations. Dividend table. ■HI j |3t SI N \I LS H The pages also cover transactions by directors and substantial shareholders.
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  • 6735 15 Transaction date: May 19 52-Wk T«l Last Vol Day lact Quota Grttv Dtv GrVW Net MCap High Low Coda Cowpawy Sate W- COOP) tHgti Law >nyr Safcr Cvr Wt W 25.5 4.5 5716 1st Software 5t 12 +15 1220 12 10 5 115 12 476 57.9 32.9 5834
    6,735 words
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  • BizIT
    • 486 15 It's launching tool to locate data on PCs, a key feature of upcoming Windows OS NYT [SAN FRANCISCO] Edging closer to a direct confrontation with Microsoft, Google, the Web search engine, is preparing to introduce a powerful file and text software search tool for
      NYT  -  486 words
    • 397 15  -  It will initially employ 25 people at its $1m centre By Amit Roy Choudhury BANGALORE-BASED DSL Software, a joint venture between India's HCL Technologies and Germany's Deutsche Bank has set up an Investment Banking Technology and Operations Centre in Singapore. The company said
      397 words
    • 189 15 Reuters [SEOUL] Samsung Electronics, the world's top memory chip maker, said it expected a computer memory chip shortage to prevail in 2004 with DRAM (dynamic random access memory) market inventory at low levels and supply being constrained. Samsung, the world's No 3 mobile phone
      Reuters  -  189 words
    • 566 16  -  It wants to double SMEs' share of revenues by next year, SAP's Singapore head tells Amit Roy Choudhury Amit Roy Choudhury GERMAN software giant SAP AG is planning to aggressively push its wares to small- and medium-enterprises (SMEs) in a bid to double the share of
      566 words
    • 488 16  -  Key to success is GDM, or global delivery model By Raju Chellam INFOTECH outsourcing will continue to be the main source of growth in IT services globally and seems to have become a mainstream business practice for companies of all sizes. This year alone,
      488 words

  • Page 16 Advertisements
    • 195 16 into the next level Only 16 vacancies are available for overseas attachment at Sun's Centres of Excellence. Trainees will have the opportunity to work alongside Sun's senior executives to deepen their skills in Java technologies. The Java Black Belt programme is a 5-month training programme in the following 5 tracks:
      195 words
    • 93 16 An EDB Til-certified company wtih patented technologies seeks investors who believe in the potential of biz to biz E-Commerce. This investment opportunity is suitable for those familiar with webbase information, data communication methods applications. The company has fully developed technologies is now ready to commercialise. These technologies are applicable globally
      93 words

  • SHIPPING TIMES
    • 231 17 Reuters [HONG KONG] China Shipping Container Lines (CSCL) has cut the size of its initial public offering again by more than 20 per cent to US$l-1.2 billion after fund managers pushed for lower pricing, market sources said yesterday. "After the pre-market-ing, we come
      Reuters  -  231 words
    • 295 17 SGX '000 May 19 St W- Vol CH Offshore 0.37 0.02 1698 ChuanHup 0.49 0.01 488 Cosco Investment .0.75 0.02 ***** CWT Distribution 0.50 unch 0 Ezra Hldgs 0.93 0.06 290 Freight Links .0.10 unch 30 GB Holdings .0.74 0 02 28 Jaya Holdings 0.77 0.02 2457 K1
      295 words
    • 584 17 Success attributed to aggressive marketing and high standards ONA [MUSCAT] After only five years of operation, Salalah port is making its mark as one of the busiest ports in the Gulf due to its strategic location at south of Oman, attracting more
      ONA; FILE PHOTO  -  584 words
    • 408 17  -  By George Joseph [SINGAPORE] A major conference on the treatment and discharge of ballast water got under way yesterday with a call for a multilateral response to the global issue. Transport Ministry permanent secretary Peter Ong urged the global shipping community and
      408 words
    • 46 17 [BELGIUM] A crane lifts wreckage of the Norwegian cargo ship Tricolor from the English Channel onto a barge. Salvage crews started work on Monday to remove the remaining pieces of the Tricolor which sank with thousands of luxury cars on board in 2002. AP
      AP  -  46 words
    • 230 17 Bloomberg [SINGAPORE] Star Cruises, the world's No 4 cruise line operator, said start-up costs for its new cruise services in Hawaii were a drag on its first quarter results. The company said on Tuesday it had net income of US$l.24 million, or
      Bloomberg  -  230 words
    • 292 17 It plans acquisition in Europe and own bases in China, Middle East and Western Africa Reuters [SEOUL] Daewoo Shipbuilding and Marine Engineering Co, the world's sec-ond-biggest shipyard, said yesterday it was considering buying a yard to make cruise ships in Western Europe and establishing a production
      Reuters  -  292 words
    • 314 17 Fine being worked out for violation of environmental rule AFP [AUCKLAND] The International Maritime Organisation has banned large ships from a part of New Zealand's coast in the first such measure in the world, a maritime safety official said yesterday. The organisation
      AFP  -  314 words
    • 595 18  -  NEWBUILDS By David Hughes THE brief new orders list would suggest a quiet time in the newbuilding market but at a time when freight markets are generally very buoyant, there does not seem to be a lack of interest in modern tonnage. There
      FILE PHOTO  -  595 words
    • 316 18 Reuters [SEOUL] South Korea's Daewoo Shipbuilding and Marine Co, the world's second-largest shipbuilder, said it expected operating profits to fall in 2004 as high steel prices squeeze margins and offset booming orders. In a filing to the stock exchange, Daewoo Shipbuilding forecast 2004
      Reuters  -  316 words
    • 103 18 PAGE Austral AL 5 Bank Line 4 BSA 4 B'tang Mas 6 CMACGM 3 COSCO 3 China Shpg 5 Crocodile Line ....4 CWTGIobelink ...4 Delmas 4 Dongnama 3 ECL 3 Foong Sun 5 Gemartrans 4 Hamburg Sud 3 Hangli 4 Heung-A 3 IRISL 5 Kyowa 5 KMTC
      103 words
    • 6853 22 THEBUSINESSTIMES A EXPORT ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Dest'n Nime Name Number Numoe- SIN ..DMfn Name Name Number Number To DUNKEROUE (DKK) 2695 Franc* TO ABIDJAN (ABJ) 2003 Cot* D'lvolrt 31/05 27/06 CMA COM MARFRET PROVENCE 45V4 65-*****JOO To DUNKIRK
      6,853 words
    • SHIPS IN PORT
      • 620 23 Vessel Voy No Berth Arrival Departure JURONG PORT/MULTI-PURPOSE TERMINAL BAYSWATER338 E4124 J3 A/SIDE 20/05 0230 DIAMOND 0405 J12 A/SIDE 20/05 1800 FOKUS 004 J10/11 A/SIDE 20/05 2000 IMME OLDEN *****1 J24/25 A/SIDE 20/05 1200 KIMTRANS1803 PN01 J14 A/SIDE 20/05 0630 LONG FU 010A J8 A/SIDE 20/05 0700 MARCOPOLO
        620 words
      • 1559 23 CONTAINERS TERMINAL AND VESSEL SCHEDULES Vessel Out In Bth Berthing Un- Berth Name Voy Voy seq berthing Nmbr ACX MARIGOLD 014S 014S 1 23/05/2004-15:00 24/05/2004-07:00 ACXSAKURA 030N 030N 1 23/05/2004-12:00 23/05/2004-23:59 AL FARAHIDI C287E C287E 1 22/05/2004-19:00 23/05/2004-06:00 Al SABAHIA C295W C295W 1 22/05/2004-15:00 23/05/2004-03:30 ALAMJAYA 2 8896N
        1,559 words
      • 143 23 May 20 Belgium: Ascension Day. France: Ascension Day. Germany: Ascension Day. Indonesia: Ascension Day. Netherlands: Ascension Day. Norway: Ascension Day. Sweden: Ascension Day. Switzerland: Ascension Day. May 24 Canada: Victoria Day. May 26 HK: Budha's Birthdy. S.Korea: Budha's Birthdyh. May 30 Germany: Whit Sun. Netherlands: Whit Sun. Norway:
        143 words
      • 817 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
        817 words
      • 532 23 Carbon 180 Mm 989.6 0.6 14.5 0.06 38 0.04 W«Y 13 Density ».t«r »«ldue AshAluminlum Sediment No*we E25 Q02 *JJS 380 Max 993.2 O.T 17.8 0.0T 68 0.04 H6/W3 v/v m/m m/m ppm method Ho above G35 2 0 0 0 0 0 ISO/Cimac Limits Spec
        532 words
    • AIR & LAND transport
      • 533 24 Assurances by LA, New York, Chicago airports follow concerns raised by Virgin Atlantic Reuters [SEATTLE] Major airports in Los Angeles, New York and Chicago plan to be ready for the mammoth Airbus A3BO double decker passenger jet in late 2006, their operators
        Reuters; REUTER FILE PHOTO  -  533 words
      • 289 24 Reuters [CIUDAD REAL, Spain] Spain, which attracts 50 million tourists a year, is building its first private airport 200 km south of Madrid in a bid to lure budget airlines away from the capital and spruce up a deprived mining area. The
        Reuters  -  289 words
      • 332 24 Heathrow owner sees 6% passenger growth this year Reuters [LONDON] Britain's biggest airports firm, BAA Pic, has posted a 4.9 per cent rise in operating profit, thanks to a record number of passengers at its seven UK airports, and forecast more robust passenger growth. The
        Reuters  -  332 words
      • 236 24 Reuters [ZURICH] Switzerland wants to sell its 20.4 per cent stake in Swiss International Air Lines once the flag carrier is on course, Finance Minister Hans-Rudolf Merz said in an interview published yesterday. "I have always said that the government needs to
        Reuters  -  236 words
      • 466 24  -  Record demand in March reflects recovery from Sars By Donald Urquhart [SINGAPORE] Air travel demand within Asia has hit record levels with March 2004 bookings up 90 per cent on the Sars-depressed March 2003 figures and up 74 per cent on the benchmark 2002
        466 words
      • 349 24 Strong wind could have caused plane to crash soon after takeoff: officials AFP [BEIJING] Strong, sandy wind is suspected as a possible cause in the crash of a cargo plane in China's north-western Xinjiang region which killed its seven crew, state media said
        AFP  -  349 words
      • 2070 24 on futwr ha man nt t«4« kso so428 2325 MUM LH9T71 N40 6*7302 2215 EK430 2005 SOUP *40 0H2 2215 Frwkhrt *£9951 0630 LH9765 1345 tonttcim $023 0(05 6*974 0130 LM9762 0630 S0326 1345 KLS37 1450 RIB38 2255 S025 0630 (*7305 2255 S024 2345 LHT7J 1555
        2,070 words
  • Page 17 Advertisements

  • Page 18 Advertisements
    • 636 18 I IMPORT I NORTH AMERICA l[~[j AUSTRALIA/NEW ZEALAND I [SUPER SHUTTLE EXPRESS (SSX) AUSTRALIA ASIA EXPRESS (AAX) *21 555 VESSEL VOY INI SYD MEL |AM HE WO PiO NEDUOYD KOWIOON 37W18 05/05 23/05 25/05 OOCI HAMIURG 02W19 12/05 0/ PiO NEDUOYD ADELAIDE 77N O*IT 17/05 19/05 21/05 25/05 30/05 01/04
      636 words
    • 523 18 Lines services represented by MmbnoflhbgiAyof ol Ifc. Accredited Shipping Agents, Singapore logiil.cs Singapore Shipping Association Association ULY UNE MALE /vESSEL VOY ETA ETA P.KLANG SPOKE MALI Kota Teraju TRJOBI 27/05 07/06 Mold Carrief 747 01/06 30/05 08/06 Princess Lily 0404 06/06 08/06 15/06 j ULY MARINE SERVICES PTE LTD 1
      523 words

  • Page 19 Advertisements
    • 689 19 7T ~MOi Combines CT o range or shipping modes to ensure timely, ratable services covering major ports in North America, Europe, Japan, Asia, Africa Oceania. 1— Ako accept btrrAski Ctrgott t«: For Schedules, BL Searches, and Container Tracking, visit on our Home Page: www.molgin.com.sa TKBuratmw TO ADVERTISE, CALL JOE WONG
      689 words
    • 800 19 SXeuSir BTCirn 16KAFFLESQUAY#36-01 SALES/BKGS TEL *****857/43 FAX.-*****321/24 COSTAR SHIPPING PTE LTD HONG HONG BUILDING OUTWARDS *****802 *****325/75 CR NO. **********0 M SINGAPORE *****1 INWARD (O/O) 6420 5786 6238 5319/49 JOHOP-SOFFICE: TEL 6226 1900(MAIN) T/SHIPDEP *****825 *****316/46 COSTAft AGENCIES (M) SDN BHD TEL 07-353 8166 FAX: 07-353 8170 CONVENTIONAL *****850 *****208
      800 words
    • 533 19 iHvanpinpaHHHHin&nßßi MSI JfflL JL _E£!l dCM—HKG! KfH PUS I VESSEL I VOY TF PKG GQLDEH MERCHANT 4?QN JAIL _26Z5_ _2BZS_ PftfH BRIDGE OS4A ~m TI7T~ GOLDENTRADE 402N 1/6 2/6 4/6 NEW DYNAMIC 061 A "17/5 29/5 I HERTFORD 004 M 8/6 0/6 11/ A ~T] PERTH BRIDGE 055 A 3/6
      533 words

  • Page 20 Advertisements
    • 1178 20 Kttl nci MAC ENQUIRIES/BOOKINGS: *****344 FAX: *****433 E-MAIL: d*lma«Od*lmai.com.ig PLM DOCUMENTATIONS/OPERATIONS: *****637 FAX: *****177 MUMtCMWiWf FUU COtfTAMER SERVICE TO WRST AfIMCA *ta EUROPE IVPSEI VOY SINGAPORE PORT KEIANG li HAVRE MM IAMJUt NOUAKCHOTT CONAKRY 308W 24/05 25/05 09/06 21/06 24/06 27/06 25/06 Hyundai Hjuhws 350W 31/05 01/06 16/06 28/06 03/07
      1,178 words
    • 674 20 MYANMA ra FIVE STAR LINE (Myanmar Notional Lino) Loading for Yangon VESSEL vor SIN PKI PEN PGU PAGAN 328W SID HPA-AN 320W SID SID IN MALAYSIA: IOUSTEAD SHIPPING AGENCIES KUL 03-*****300 PKL 03-3176*101 PEN: 04-2****** AIM* ACCEPTING CONVENTIONAL CBO VESSEL VOT HKG SIN PGU PKI KIK SUNNYHEAET 54 SU) SU)
      674 words

  • Page 21 Advertisements
    • 1470 21 VESSEL VOY SIN PKL DXB BAB DMM BIK CHABAHAR [KHORRAMSHAHRI IRAN TEHRAN PCL36B 16/05 SKIP 25/05 26/05 03/05 05/05 07/05 09/05 IRAN SATTARI PCLBO3I 21/05 22/05 30/05 31/05 08/06 10/06 12/06 14/06 IRANSHAHRYAR PCLBO33 29/05 30/05 07/06 08/06 15/06 17/06 19/06 21/06 IRAN ISFAHAN PCL37I 06/06 07/06 15/06 16/06 23/06
      1,470 words
    • 480 21 I IFI UK CONTINENT SERVICE Loading for ATERMON RTM/ATW/BMN/UK/NAN KEELUNG RTM/ATW/BMNAJ K/NAN Loads Singapore. EjW Malaysia, Indonesia MIDDLE-EAST SERVICE Loading for J FRIEND HDD/JDH/AQA J SAFE DBI/ABU/DOH/BRN/DMM/KWT PAN VOYAGER DBI/ABU/DOH/BRN/DMM/KWT 'Loads Singapore, EVW Malaysia, Indonesia USA SERVICE Loading for SPLIT CAM/NOL/NFK/SAV/TPC FALCON TRAVELLER VCW/LAX/MZL 'Loads E7W. Malaysia, Indonesia F.E./S.E.A. SERVICES
      480 words
    • 677 21 VESSEL Vfil SIN PSU YISStL VOX SIM JU PACBANPA HUN 22/05 23/05 AIAMJAYA 2 MSZ 2J/J5 25/fIS PAC OAHDA llliN 24/25 24/05 MATARAM lIP 3f1f16 21/fii 11M PACIAHPA !21Wj 25/05 25/05 PAC HHTAH 824! 2Z/JU 2S/U5 PAC IAItDA 1217H 24/S5 27/05 AIAMJAYA 2 MM 31/05 02/06 pac iawda uw um
      677 words


  • Page 23 Miscellaneous
    • 112 23 Issued by Meteorological Service Division.NEA LEGEND: T Thunderstorm Wind speed symbols "v Showers O Full circle w/o line indicates calm or light and variable winds Rajn J —One half fleche represents 5 knots Cloudy Day *One full fleche represents 10 knots x Hazy A One solid triangle represents 50 knots
      112 words