The Business Times, 22 May 2004

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Microfilm: NL25567
Total Pages: 18
1 18 The Business Times
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  • Title Section
    Lock icon Masthead
    9 1 MITA(P) 023/03/2004 THE BUSINESS TIMES weekend SINGAPORE wu> :\v~t
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  • Article
    Lock icon Will Clob regain allure for S'pore investors?
    729 1  -  SGX seems content to keep it ticking, but market may be losing its relevance By Wong Wei Kong [SINGAPORE] What used to drive the bulk of trading volumes on the Singapore Exchange (SGX) has now become practically just a side show. At its
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  • Article, Illustration
    Lock icon $10 billion plan to make Sentosa a 'must visit' place
    1065 1  -  EXCLUSIVE Part of the plan is a $25m nightly water-based show on the stretch of sea between the island and Harbourfront By Daniel Buenas [SINGAPORE] Sentosa aims to throw off the "white elephant" tag once and for all through a
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  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      134 1 Mazda RXB: I Iv^J mkm IW pi pf I 1 pww>wwm'~*»«Hryr>*'itnrrTr nmr- *r~ Tf-irT-rr-irrr-, *8*j Singapore is the perfect location for our I particular industry. 1 i —Terrence Lanni. chairman and CEO cccnjMQ fromMond3 v sre 9 :ona| I stockmarKet crash Win a trip to New York —and more A
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      15 1 TOURISM Indian hotels boom as business travellers push up occupancy rates. NfiEU 8 *****1 *****4
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      33 1 PERSONAL INVESTMENT < Using price-to-book ratio as a timing tool MBES jH^^Si Sarasin U tinw frt I te lai'TT Umh U «IVOT »k li »l ij. I ipi in "M (iS)iIIMCM he i«9j«llfc Mfct
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  • news front
    • Article
      Lock icon Semicon equipment orders more than double in April
      457 2  -  Robust demand is expected to boost business of several S'pore suppliers By Raju Chellam [SINGAPORE] The continuing economic uptick is keeping semiconductor equipment makers busy. Last month, manufacturers of semicon equipment posted US$l.59 billion in orders, up a huge 111 per cent
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    • Article
      Lock icon Saudi petrochem am may move warehousing to Pelepas
      330 2  -  But it will keep Singapore as its regional hub From Eddie Toh in Kuala Lumpur SAUDI Basic Industries Corp (Sabic) the petrochemical arm of Saudi Arabia is considering the possibility of moving its warehousing activities from Singapore to Port of Tanjung Pelepas
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    • Article
      Lock icon Clarification
      154 2 IN our report yesterday, "S'pore banks risk being swallowed: MAS exec", we may have given the wrong impression that John Palmer, deputy managing director of the Monetary Authority of Singapore, was warning local banks to improve their profitability or risk being taken over by rivals. He was making a
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    • Article, Illustration
      Lock icon Arab is not a homogeneous term
      855 2  -  Advocates of the 'Arab way' are often pushing for their own values rather than those of the Arab peoples John gee RAIS Yatim, Malaysia's arts, culture and heritage minister, recently counselled Malays against "Arabising" their culture "to the extent that everything that the Arabs
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  • Page 2 Advertisements
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      104 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: Simon ne Toh T: +65 6535 3382 F: +65 6535 3991
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  • the raffles conversation
    • Article, Illustration
      Lock icon The Pinstriped Mogul
      1386 3  -  Terrence Lanni, chairman and CEO of one of the world's largest gaming empires MGM-Mirage talks to VIKRAM KHANNA about the transformation the casino industry has been through in the last decade VIKRAM KHANNA HE fun guys are W H all gone; now you I H 1 have
      BLOOMBERG  -  1,386 words
    • Article
      Lock icon Willing to bet big in S'pore
      766 3  -  By Vlkram Khanna AFTER establishing itself in the United States and entering the British and Australian markets, MGMMirage is keen to invest in Asia, where, up to now, it has maintained only marketing offices. The gaming giant's chairman and CEO, Terrence Lanni, indicated that
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  • Page 3 Advertisements
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      120 3 The Raffles Conversation is brought to V V T you through a special arrangement I 3 I I l/Ap r with Raffles International Hotels and I Resorts. The Traveller's Palm in the ft II Raffles International logo is an apt INTERNATIONAL symbol. Not only has water stored at i n
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  • companies
    • Article, Illustration
      Lock icon Clash off Titans
      218 4  -  With all eyes on Wee Cho Yaw's next move at United Overseas Land, the shrewd banker bought shares in his key vehicle Haw Par Corp this week. Does it mean he has given up on UOL and has now decided to guard Haw Par instead? Or is
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    • Article
      Lock icon Singapore firms take control of Indon property company
      284 4  -  From Shoeb Kagda in Jakarta WHILE Temasek Holdings is in the midst of a takeover bid for Singapore property group United Overseas Land, a unit of the Singapore investment company has teamed up with two other Singapore-based companies to take control of
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    • Article
      Lock icon Haw Par not seen as prime takeover target
      584 4 Its assets appear mismatched and poorly utilised, thus yielding little commercial value: analysts THE scene is always set for action at Wee Cho Yaw-linked companies. And Haw Par Corp is a great example. Viewed as one of the keys to Mr Wee's
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    • Article
      Lock icon OUE a good target as it's more undervalued than UOL
      552 4 UOB divestment will be cleaner as Wee has no direct stake IN many ways, Overseas Union Enterprise (OUE) is similar to the company in the hot seat United Overseas Land (UOL). But while both are property companies that have to
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    • Article, Illustration
      Lock icon Lots of huffing and puffing, to little effect
      675 4  -  market review r sivanithy IF you're looking for a phrase to best describe recent events in the local stock market, "running to stand still" is a good candidate, since it sums up how prices moved over the past five days. There was
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    • Article
      Lock icon MARKETS
      75 4 sn 1,767.23 (+25.66) ST INDEX FUTURES 1,787.00 (+17.00) SIMSCI 216.07 (+3.42) SIMSCI FUTURES 216.30 (+3.50) Friday Change KLSE COMP 791.53 NIKKEI 225 11,070.25 +208.21 HANG SENG 11,576.01 +236.39 SET INDEX 615.41 +1553 JAKARTA COMP 724.93 +18.14 MANILA COMP +12.71 TAIPEI WPI 5.964.94 +149.61 SEOUL COMP 786.36 +18.57 SHENZHEN B
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    • Article
      Lock icon FINANCE
      76 4 FOREX RATES utl t$ ISS (SS per ISS> 1.713 £<VSS/SSpw£1.. 1786 Hil69 ElROfl'SS-'SS/E) 1202 tM YEN IMS (5 JO RM 8.800 1215 HKS 7.792 4J4S BAHT 40.76 23 79 Rl'PlAH 5J91 RENMINBI 8.299 4*44 tNDUN R1 TEE 45i9 26 44 AS 1424 <LBS1 NZ$ I H33 ujfc-1 PRIME RATES
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    • Article, Illustration
      Lock icon SingTel makes A$227m cash bid for Uecomm
      556 5  -  Planned purchase seen as a positive move to raise SingTel's presence in SME market By Angela Tan SINGAPORE Telecommunications yesterday made a A 5227 million (*****.4 million) cash offer to buy Australian high-speed cable network provider Uecomm in a bid to spur growth
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    • Article
      Lock icon UOB forms alliance with Citic unit
      363 6  -  Closer ties with Citic Capital Markets could lead to sales of China funds to S'pore investors and joint distribution of IPOs By Siow Li Sen IN a coup of sorts, United Overseas Bank (UOB) yesterday said it has reached an agreement to forge closer
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    • corporateroundup
      • Article
        Lock icon New Wave Technologies posts $11.9m loss
        40 6 NEW Wave Technologies plunged into the red with net loss of $11.9 million compared with net earnings of $259,000 previously for the year ended March. Turnover was down 10.9 per cent at $9.8 million.
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      • Article
        Lock icon Integra2000 unit plans Sesdaq listing
        29 6 INTEGRA2000 said it plans to spin off its subsidiary idexCLS Pte Ltd in a listing on the Singapore Exchange Sesdaq. IdexCLS provides infrastructure-tech-nology services.
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      • Article
        Lock icon Altus bids for mainboard listing
        59 6 SEMICONDUCTOR manufacturing equipment and materials supplier Altus Corp has lodged a preliminary prospectus with the Monetary Authority of Singapore in a bid for a mainboard listing. The company's bottom line has grown in the past two years, with net profit up 42.4 per cent at
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      • Article
        Lock icon L&M`s interim loss narrows
        47 6 LOSS-MAKING L&M Group Investments has posted an interim net loss of $13.2 million, down from $22.5 million previously. Revenues fell to $70.6 million from $83.3 million due to a shrinking construction market. It expects to break even for the second half of 2004.
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      • Article
        Lock icon Stamford Land's profit plunges 52%
        50 6 STAMFORD Land, which operates hotels in New Zealand and Australia, said net profit for the year ended March tumbled 52.3 per cent to $7.3 million. Turnover, however, rose 28.6 per cent to $265.7 million due to the recognition of revenue from its Stamford Marque project.
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      • Article
        Lock icon Singapore Shipping`s profit slips
        31 6 SINGAPORE Shipping Corp's net profit for the year ended "March slipfkfl 9.6 per cent to $13.1 million de- spite revenue rising 23.1 per cent to $84.3 million.
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      • Article
        Lock icon SPH gets court okay for capital reduction
        26 6 SINGAPORE Press Holdings said its proposed sub-di-vision of shares and capital reduction have been confirmed by the High Court.
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      • Article
        Lock icon Giken Sakata chalks up $4.3m loss
        33 6 GIKEN Sakata has plunged into the red, posting a net loss of $4.3 million for the year ended March. Revenue dropped 39 per cent to $82.9 million.
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      • Article
        Lock icon CSA profits drop to $6.5m
        35 6 CSA Holdings net profits have fallen to $6.5 million from $9.8 million due to a decline in demand for IT infrastructure systems. Revenue dropped to $484.2 million from $550 million.
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      • Article
        Lock icon Sea View Hotel gives 2nd interim dividend
        48 6 SEA View Hotel, which last year sold its landmark hotel in Katong to Marco Polo Developments, has declared a second interim dividend. Shareholders will receive 59.13 cents gross per 9hare, and this should fully utilise Sea View's Section 44 tax credits.
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      • Article
        Lock icon Novena plans bonus issue
        54 6 FURNITURE maker and retailer Novena Holdings Ltd plans to issue one new share for every four shares owned. About $3 million will be capitalised from the share premium and accumulated profit accounts of the company due to the bonus issue, which represents 25 per cent of
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      • Article
        Lock icon FHTK`s Q3 loss deepens to $4.8m
        41 6 FHTK Holdings' Q3 net loss ended March widened to $4.8 million from $1.1 million previously. Revenues were down 5 per cent at $26.2 million due to lower selling price and quality claims on apples sold.
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    • Article
      Lock icon BIL Int'l swings into profit for Q3 thanks to Thistle
      274 6  -  By Serena Ng INVESTMENT company BIL International yesterday chalked up net profit of US$37 million for its third fiscal quarter ended March on the back of higher contributions from its London subsidiary Thistle Hotels. A year ago, Singaporebased BIL had
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    • Article
      Lock icon Cerebos Q2 profit falls 35% to $12.5m
      359 6  -  By Ven Sreenivasan HEALTH tonic and supplements maker Cerebos Pacific yesterday reported a 35 per cent drop in secondquarter net profit, but only because there was an $11.5 million exceptional gain in the same period last year. If this is excluded, net profit
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    • Article, Illustration
      Lock icon First dividend in six years for Thakral
      376 6  -  By Gea Swee Jean CONSUMER electronics distributor Thakral Corporation yesterday proposed its first dividend in six years as it reported a 54 per cent jump in net profit to $22.6 million for the year ended March 2004. The mainboard-listed company, which has returned
      CHRIS LOH  -  376 words
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  • Page 5 Advertisements
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      2482 5 CSA HOLDINGS LTD Unaudited Full Year Financial Statement And Dividend Announcement The Board of Directors of CSA Holdings Ltd wishes to make the following announcement: l Stalemenl »-Ql changes in wulty for financial yoar tnfleaMarch 31, 2004 In Singapore, despite the challenging economic conditions, we won several infrastructure and 31.03.2004
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  • Article
    Lock icon KLSE
    2374 6 S Transaction date: May 21 KUALA LUMPUR GeneralSoil 1.26 unch 0 Vo l Genting 14.90 0.20 1564 KM COOO) George Kent .0.82 0.01 18 GlobetronicsTech 0.53 unch 2547 ASM Realty 1.32 0.01 16 Glomac Bhd .2.37 -0.08 1628 Abrtc 0.60 -0.02 268 Gold Bridge Engrg 0.41 -0.01 257 ACP
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  • Article, Illustration
    Lock icon FINANCE
    644 6 Transaction date: May 21 DTTERBAlfK CURREMCT RATES Against S$ Against US$ Against SS Against US$ Currancias Bid Offar Bid Offar Carrancias Bid Offar Bid Offar svuss to too Stl'SS to one unit of foreign currency: units of foreign Australian dollar 1.2023 1.2040 0.7020 0.7026 Canadian dollar 1.2492 1.2509 0.7294
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  • dbs investment roundtable
    • Article, Illustration
      Lock icon Riding on volatility
      3851 7 US interest rates, China's over-heating economy and soaring oil prices are cause for concern, says our panel, but savvy investors can take advantage of market swings Walton Morals: A famous market guru once said all stock market crashes happen on a Monday because investors go home on
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  • Page 7 Advertisements
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      41 7 8 DBS The DBS Investment Roundtable is brought to you by DBS. It aims to help the investor make informed decisions by providing a platform for experts to discuss the impact of current market issues and concerns. DBS hotline No: 1800-*****22
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  • personal investment
    • Article
      Lock icon brokers'take
      696 8  -  Compiled by VEN SREENIVASAN SPH May 21 dose: $20.60 NIELSEN Media's April data indicates that SPH newspaper advertising volume is showing signs of a modest recovery. The year-on-year comparisons seem very good, but this could be due to the Sars-affected low base period last year. Advertising is finally showing
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    • tradestowatch
      • Article
        Lock icon MD of Jardine C&C in share sale
        74 8 THE managing-oifiector of Jaroine Cycle Carriage, Philip Eng, on May 20 sold 70,000 shares of the car distributor at $6.50 a share. The open market sale, which took place about two months after he exercised 120,000 options at $2.33 each, reduced Mr Eng's
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      • Article
        Lock icon Arisaig's GES stake crosses 5%
        59 8 FUND manager Arisaig Partners' Asean Fund has become a substantial shareholder of GES International. It bought 377,000 shares on May 14 at around 64 cents each, raising its direct shareholding in the original design manufacturer to 5.02 per cent from 4.97 per cent. Shares of
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      • Article
        Lock icon Ellipsiz directors in share buys
        108 8 FOUR directors of semiconductor solutions group Ellipsiz bought shares in the company on May 20 and 21, while a fifth sold part of her stake. Ellipsiz's executive chairman and chief executive officer Xavier Chong bought 10,000 shares at 38 cents apiece, while independent co-chairman Foo
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      • Article
        Lock icon Asiatravel CFO's stake raised
        68 8 THE chief financial officer of Asiatravel.com Holdings, Joanna Yeo, had her deemed shareholding in the online hotel and travel reservation service provider raised to 1.84 million shares, or a 0.96 per cent stake, following a purchase of 175,000 shares at 47.5 cents each on May 20
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      • Article
        Lock icon King's director adds to holding
        71 8  -  Compiled by SERENA NG AN executive director of King's Safetywear, Yeo Loy Kiang, on May 20 bought another 100,000 shares of the safety footwear and protective equipment maker at 24.5 cents or 25 cents a share. The open market purchase raised his direct shareholding in
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    • Article, Illustration
      Lock icon Using price-to-book ratio as a timing tool
      1471 8  -  show me the money teh hooi ling US professors of finance Eugene Fama and Kenneth French published a breakthrough study in 1992 on the use of price-to-book (PTB) ratio as a predictor of a company's future stock performance. Their study showed convincingly that
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    • Article
      Lock icon New Prudential fund covers India and China
      428 8  -  By Genevieve Cua PRUDENTIAL Unit Trusts has launched a fund investing in India and China, a first to combine the two popular themes. While the PRU Dragon Peacock Fund is classified as high risk, its volatility is expected to be lower than that
      428 words
  • Article
    Lock icon BT SHARE INFORMATION SERVICE
    984 8 i for week beginning May 17 SubsaotM »uy No of Mce SNABEHOUMN6 Tram Shareholder S«A Sham far Mara After Slock Pate Com HOP She S (100) fB8» PCI 20-May-04 Chuan Hup Hldgs Buy SO 0.75 ***** 32.82 ***** 32.84 Asiatravel 19-May-04 OngNalPew Buy 100 0.47 0
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  • news at home
    • Article, Illustration
      Lock icon Motorola to add staff and boost S'pore operations
      554 9  -  It expands manufacturing facility and is all set to tap 3G rollout, economic upturn By Raju Chellam THE boom in mobile phone sales coupled with the rollout of third-generation (3G) phones in Singapore by the year-end is prodding US electronics giant Motorola
      554 words
    • Article
      Lock icon Q1 domestic wholesale trade index up 5.7%
      239 9  -  wholesale trade index By Chen Huifen AFTER falling for two consecutive quarters, Singapore's domestic wholesale trade index rebounded in Q1 this year with a 5.7 per cent year-on-year growth, according to the Department of Statistics. The gain was mainly due to higher sales
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    • inbrief
      • Article
        Lock icon Korea-Singapore FTA seen by year-end
        51 9 SINGAPORE and Korea are one step closer to a free trade agreement. The two countries concluded their third round of negotiations on the Korea-Singapore Free Trade Agreement from May 19 to 21. A substantive, comprehensive and WTO-plus FTA by the end of this year is
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      • Article
        Lock icon Panama FTA first round talks completed
        74 9 WHILE Korea and Singapore concluded its third round of FTA talks, Panama and Singapore had its first round of negotiations on the Panama-Singapore Free Trade Agreement from May 17 to 21 here. Discussions covered various areas, including trade in goods, rules of origin, customs
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      • Article
        Lock icon Koh Yong Guan elected to regional post
        65 9 THE managing director of the Monetary Authority of Singapore, Koh Yong Guan, has been elected as chair of the Asia Pacific Regional Committee of the International Organisation of Securities Commissions for two years. Mr Koh's role is to create a conducive environment for
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      • Article
        Lock icon Paul Chong takes over as Cisco CEO
        61 9 SECURITY agency Cisco has hired Paul Chong as its chief executive officer. Mr Chong, 41, was an SAF (Overseas) scholar and was director of IWorld Singapore, an IDA-licensed company that provides broadband Internet services. Cisco's previous CEO, Chan Boon Kiong, has retired after
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      • Article
        Lock icon QBE to buy Zurich's S'pore business
        85 9 Bloomberg QBE Insurance Group Ltd, Australia's largest general insurer by premium income, agreed to buy Zurich Financial Services AG's property and casualty business in Singapore to bolster its business in Asia. The Singapore unit had Ss29 million of net written premiums in 2003, Sydney-based
        Bloomberg  -  85 words
    • Article
      Lock icon $10m scheme to entice filmmakers to Singapore
      233 9 THE Singapore Tourism Board (STB) yesterday announced a three-year, $10 million scheme to encourage leading international film-makers and broadcasters to shoot and produce quality movies and TV programmes in Singapore. The "Film in Singapore!" scheme aims to develop and promote Singapore as a
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    • Article
      Lock icon IE S'pore, SBF lead mission to M'sia
      274 9 A HIGH-POWERED Singapore business delegation will visit Malaysia next week in the first mission to the country since the March general elections. The mission from May 24 to May 26 the biggest from Singapore to Malaysia in recent years will be led by
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    • Article, Illustration
      Lock icon Pinnacle@Duxton showroom ready soon
      273 9  -  528 units to be offered in blocks C and D in first phase By Chia T-Chien THE Housing and Development Board's Pinnacle@Duxton showroom, at the junction of Cantonment and Neil roads, is expected to be launched in a week. HDB said yesterday that two blocks C
      FILE PHOTO  -  273 words
  • Page 9 Advertisements
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      Lock icon Page 9 Advertisements Column 1
      236 9 Call toll-free 1800 289 8822 SINGAPORE AIRPORT BUS SERVICES LTD NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 26th Annual General Meeting of the Company will be held at the ComfortDelGro Headquarters, 205 Braddell Road, Singapore *****1 on Tuesday, 15 June 2004 ot 10:00 a.m. for the
      236 words
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      125 9 Yes! I want to subscribe to the BT Weekend edition for 12 months. Simply mail in or fax this form to 6744-4875 or call 6388-3838 now! f y Name (Dr/Mr/Mrs/Ms) Sex: M/F Deli very Address: Posta Code: j» Date of Birth: NRIC No: Email: Tel (H): (0): Mobile: J Mode
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  • news region
    • Article, Illustration
      Lock icon Luxury brands fight China fakes by setting up shop there
      606 10 Demand for real Armani, Prada, Carder also rising in affluent China Bloomberg [SHANGHAI] Giorgio Armani was so impressed by a fake Armani watch he bought for US$2l in Shanghai, he decided to make some watches in China at a lower
      Bloomberg; REUTERS  -  606 words
    • Article
      Lock icon China may raise interest rates to cool economy
      520 10 Minister's remarks reflect growing concern in Beijing AFP, AP [BEIJING] China may raise interest rates amid concerns that measures taken so far are not enough to cool the economy, Vice-Finance Minister Lou Jiwei said yesterday, joining a growing chorus suggesting tougher policies
      AFP,; AP  -  520 words
    • Article
      Lock icon M'sia losing its edge in palm oil: report
      341 10 [SUNGAI BULOH, Malaysia] The recent boom in global commodities with palm oil recently hitting five-year price highs is exposing deep inefficiencies in Malaysia's palm-oil industry, the Asian Wall Street Journal reported yesterday. In an example of how increased demand from China and
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    • Article
      Lock icon ABN Amro in KL cuts prime to 5.5%
      155 10 Reuters THE Malaysian unit of Dutch bank ABN Amro has cut its base lending rate (BLR) by 50 basis points to 5.5 per cent, making it the first lender to drop rates after a new interest rate framework was introduced by the
      Reuters  -  155 words
    • inbrief
      • Article
        Lock icon Good progress at China-Asean trade talks
        128 10 AFP [BEIJING] Negotiations on the establishment of a Chi-na-Asean free trade area are set to wind up ahead of schedule next month after the parties reached a basic consensus that would create the world's biggest trade zone, the China Daily reported yesterday. China and
        AFP  -  128 words
      • Article
        Lock icon Nokia to increase R&D in China
        82 10 AP [HELSINKI] In an apparent move to revive its ailing market share, Nokia yesterday said it will significantly expand its research and development operations in China. Nokia said the R&D expansion in China will be "significant", including the establishment of a CDMA research centre
        AP  -  82 words
      • Article
        Lock icon UK envoy hurt in Bangladesh blast
        86 10 Reuters [DHAKA] One man was killed and nearly 50 people injured, among them Britain's ambassador to Bangladesh, when a powerful bomb exploded at a shrine to a Muslim saint in the town of Sylhet in Bangladesh yesterday. British High Commissioner Anwar Choudhury and his
        Reuters  -  86 words
      • Article
        Lock icon Farmers attack officials in Shenzhen
        94 10 AFP [BEIJING] Up to 400 disgruntled farmers took one official hostage and attacked law enforcement workers seeking to demolish their makeshift homes in southern China's Shenzhen city, Xinhua news agency said yesterday. Some 21 law enforcement workers were injured after they were showered with bricks
        AFP  -  94 words
      • Article
        Lock icon Proton to set up plant in Iran
        121 10 AFP [KUALA LUMPUR] Malaysia's national carmaker Proton will set up a plant in Iran and raise production to 60,000 units a year to tap the booming auto market there, Deputy Trade Minister Ahmad Husni Hanadzlah said on Thursday. He said Proton had an
        AFP  -  121 words
    • Article
      Lock icon Househunt Property transactions lodged for selected districts between May 12 and May 19,2004.
      621 10 District 1 NON-LANDED Emerald Gdn Apt 24/04/04 999 1055 770 730 The Central Apt 23/04/04 99 624 629 1007 The Central Apt 08/04/04 99 732 650 888 The Central Apt 01/04/04 99 624 634 1016 The Central
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    • Article
      Lock icon Fierce bidding expected at HK land auction
      538 11 HK PROPERTY Developers are hungry as their land banks are low Reuters [HONG KONG] Hong Kong's first government land auction in nearly two years is expected to see fierce bidding on Tuesday from developers despite a recent slowdown in the property market. "Developers
      Reuters  -  538 words
    • Article
      Lock icon Cheung Kong cuts prices to stem exodus of buyers
      193 11 Bloomberg [HONG KONG] Cheung Kong (Holdings) Ltd, the flagship developer of billionaire Li Ka-shing, has cut home prices in Hong Kong by about 9 per cent, said executive director Justin Chiu. Cheung Kong has cut prices at its Caribbean Coast complex
      Bloomberg  -  193 words
    • Article, Illustration
      Lock icon Indian hotels boom as business travellers push up occupancy rates
      822 11 Reuters [NEW DELHI] India's hotels, having weathered nearly two years of a global tourism funk, are once again bursting at the seams. Analysts attribute the boom over the past 12 months to the confluence of several factors from India's red-hot
      Reuters; AFP  -  822 words
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  • Article
    Lock icon UNIT TRUSTS & FUNDS
    4130 11 UNIT TRUSTS FUNDS Indocam Asia Visionl** 0.988/1.039 DBS Asset Mgt ABN Amro Asset Mgt (S'pofe) Shentoi Twin «y -'JHCil Star Europe Eqty!" 0.72* ""ME Star Europe Bond 1 229/ Mendaki Cap Pro Fd ....-0.981/ Star Europe Bal 1.033/ Shenton Thrift! 1 9 2 52 921 Star Asian Tiger Eqty 0.813/
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  • news world
    • Article
      Lock icon Strong Capital agrees to US$175m settlement
      257 12 Reuters [NEW YORK] Mutual fund company Strong Capital Management Co and its founder and main owner, Richard Strong, agreed to a US$l75 million settlement yesterday to resolve securities fraud charges involving improper trading of mutual funds, according to state and federal regulators. The settlement
      Reuters  -  257 words
    • Article, Illustration
      Lock icon Investors provide Mitsubishi Motors emergency funds
      456 12 Phoenix Capital Co will be top shareholder with 40 per cent Reuters, AP [TOKYO] Mitsubishi Motors Corp, abandoned by DaimlerChrysler, has secured US$4 billion in emergency rescue funds to shore up its balance sheet and fix its operations. The funds will come from investors
      Reuters,; AP  -  456 words
    • Article
      Lock icon Oil eases but stays above US$40
      349 12 Opec ministers say they can do very little to cool market AFP, Reuters [LONDON] Oil prices retreated from 21-year highs yesterday as Opec ministers headed to Amsterdam to discuss an output hike in response to record prices. But the ministers, facing pressure from consumers
      AFP,; Reuters  -  349 words
    • Article
      Lock icon IMF says Japan's economy may grow 4% this year
      300 12  -  From Anthony Rowley in Tokyo JAPAN'S economy should achieve real growth of up to 4 per cent this year, the IMF said yesterday after concluding its annual consultations with Tokyo. But while sounding generally upbeat, it also warned that global uncertainty,
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    • inbrief
      • Article
        Lock icon Estee Lauder teams up with P Diddy
        71 12 NYT [NEW YORK] Estee Lauder is expected to announce that it will produce a new men's fragrance in collaboration with Sean Combs, the hip-hop entrepreneur known as P Diddy, according to executives involved in the deal. The fragrance, to be called Sean John,
        NYT  -  71 words
      • Article
        Lock icon Neutral funds rate can vary: Fed official
        74 12 Reuters [SEATTLE] The inflation-adjusted Federal fUnds rate has averaged 2.7 per cent over time, but this neutral rate, which neither heats nor cools the economy, can vary, a top Fed policymaker said on Thursday. Federal Reserve Board Governor Ben Bernanke said that, if
        Reuters  -  74 words
      • Article
        Lock icon Hilton's earnings more than double
        77 12 Bloomberg [DUBLIN] Gaming underpinned surging profits at Hilton Group which said its four-month earnings more than doubled, without disclosing specific earnings figures. The company's Ladbrokes unit, which takes bets on everything from greyhound racing to the outcome of the US presidential election, won 27 per
        Bloomberg  -  77 words
      • Article
        Lock icon Sumitomo Trust to buy UFJ trust ops
        54 12 Reuters [TOKYO] Sumitomo Trust Banking Co Ltd will buy the trust banking operations of Japan's ailing UFJ Holdings Ltd, valued at US$2.7 billion, creating the country's biggest trust banking group. The deal will provide UFJ with much-needed cash as it struggles to clean
        Reuters  -  54 words
    • Article
      Lock icon Bidders submit offers for The Daily Telegraph: sources
      351 13 NYT, Reuters [LONDON] About a halfdozen bidders, including the Barclay brothers of Britain, submitted offers of about US$l billion on Thursday for The Daily Telegraph of London, the crown jewel of Conrad Black's publishing empire, Hollinger International executives involved in the auction
      NYT,; Reuters  -  351 words
    • Article
      Lock icon Methodist church in US opts for traditional pension plan
      309 13 Defined-benefit plan looks good after stock bubble burst NYT [NEW YORK] More than 17,000 US employers have discontinued their traditional pension plans in the last 10 years, but one big employer is resisting the tide. Earlier this month, the United Methodist
      NYT  -  309 words
    • Article, Illustration
      Lock icon Fears of US interest rate hike send world markets reeling
      564 13 Gold, a supposed haven in times off economic uncertainty, has also suffered NYT [NEW YORK] Could stock markets in Brazil and China, not to mention the junk bond market in the United States and the price of gold, really be
      NYT; AFP  -  564 words
    • Article
      Lock icon Cash-rich Microsoft not averse to cost-cutting
      437 13 It trims prescription coverage and stock discount AP [SEATTLE] Even with US$6O billion cash in the bank, Microsoft Corp is telling employees they're not immune to corporate costcutting. The software giant told employees in an e-mail this week that it is trimming some benefits
      AP  -  437 words
  • Article
    Lock icon SGX
    648 12 i Transaction date: May 21 VmHOWkrm VALUE COCO) I** m* u, Ti* MAftad »t,447 1HA47 4UB un 'HS 'S* 72 I»O.HI wj» m.7* TS/ES?™ 2-S SSI 404 w.roi •rtrttorfCom Mm m HM 1U.«0 l« *****1 55JL 11M 71 1X411 TlMl Jt 71M0 ConamcUyn 40.77* to.rs M.!«9 !r" 503 ii;
    648 words
  • Article
    Lock icon BONDS & WARRANTS
    701 12 BONDS WARRANTS a. Company £2 roool Mto £,1 r "f Vri Cm. E». Gw-% rooo) tot Wo Ing Loft Code Company Solo +or- fooo) Ratio Mco lug loft 3779 ASLMarineHldgs W*****1 13 1 53 35 377 47 ,787 H^I'3CSl^lll 4M8HJB*****0 3698 ASTlW*****lT. 34 -2.S 12 1 16 3 151 1
    701 words
  • Article
    Lock icon SGX SESDAQ
    1520 12 w rooai "S if IK 5?S? i&H9» ,5t 12 c 36 15 15 15 16 289 «5 15 '501 «25fezzz=|fi ;i.5 104 215 21 If 215 5 "V 3 si H 58? b 1 25 2 ,i ?;i i« i gj ft 22 J 2 2 2 16
    1,520 words
  • Article
    Lock icon CLOB INTERNATIONAL
    187 12 s* l* loot Vol Ooy Lift Quote GrOtv Dfv GrVW MM MCap H*#i Codo Ccmpw, M« (*000) Wall low »uyor So»pf S Cvr Pit jfanB 228 121 6000 AVJonningsA25c..... A219 +3 86 219 218 219 220 40 8 8 4 6 8 3 4711 6001 Cathay Pot 20c
    187 words
  • Article
    Lock icon SGX XTRANET
    217 12 52-Wk Td Loft Vol Day UctQuoto GrOrv Dtv GrYM Not MCap High Low Cod* Company Sol* *l- i ooo High low »uyor S*H*r Cw Ht lm> 2060 2000 6065 Diomondl US2060 2120 6095 ISDJ USTech US3740 6097 IS MSCI Spore US555 6101 IS S4PS00 US8270 ***** 9650 6170
    217 words
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  • Article
    Lock icon SGX MAINBOARD
    6697 13 Trarisactkm date: May 21 52-Wk Td Last Vol Day UtQH GrfM» Ota CrtM MM MCap t»jh Law Code Coiwpniy Sata +J- COOP) Wli L— layer idhr CW K Wi 25.5 5 5716 IstSoftwareSc 11 -0.5 836 11.5 11 11 11.5 43.6 57.9 32.9 5834 A-Sonic5c 35 +1 317
    6,697 words
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  • style motoring
    • Article, Illustration
      Lock icon Breathtaking
      754 14  -  Grey importers have been offering them for a while now but these two long-awaited and highly significant Japanese cars are finally being sold by their authorised distributors. SAMUEL EE drives both SAMUEL EE GOOD things do come to those who wait and the best example has to be the
      754 words
    • Article, Illustration
      Lock icon An Odyssey of rediscovery
      714 14 With the third generation, the Odyssey appears to have returned to its car-like roots both in form and function but still retaining all the virtues of a 7-seat MPV. IT has been called Singapore's favourite MPV, and it won't be surprising if it continues to remain
      714 words
    • Article, Illustration
      Lock icon whichwheels
      509 14 Showtime MITSUBISHI'S annual motor show at Takashimaya Square features four special guest stars the Evolution VIII MR, Ralliart Lancer Turbo (above), Outlander 2.4-litre Mivec 4WD and Pajero 3-door 3.5litre GDI V 6. The Evo MR is an amazing improvement over the Evo VIII but for smaller budgets, the 1,8-litre
      509 words
  • Page 14 Advertisements
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      166 14 TOP 2 LUXURY SUVs Lexus RX3OO: Singapore's best-selling luxury SUV is expected to be even bigger this year. Comes in three model variants starting from $156,888. Volvo XC9O: The hulkingly handsome Swede is also surprisingly practical. It is the only seven-seat SUV on the market and it has amazing luggage
      166 words
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  • style health
    • Article, Illustration
      Lock icon When the pain won't go away
      925 15  -  Got a pain in your neck? Acupuncture may be the answer to your problem. CHEAH UI-HOON finds a growing following for the treatment here CHEAH UI-HOON SIX years ago, when the strain on his neck and back got from bad to worse, Information Technology
      FILE PHOTO  -  925 words
    • Article
      Lock icon Put on your running shoes and join the fun
      194 15  -  By Cheah Ui-Hoon ONLY a third of women are active in sports compared to nearly half the men made up mainly of young female adults aged between 20-39 years who exercise less than once a week. This is a situation which
      194 words
  • Article
    Lock icon STOCKS ASIA
    4565 15 Transaction date: May 21 HONG KONG Vol HK Exchanges a Oearing..15J5 0.20 4510 HKS 000 HKRInfl 2X 0.20 5206 Hong Kong Electric 31 JO 0.80 5042 AeonCredtt .4.55 0.15 204 Hongkong Chinese .0.96 0.01 390 Aeon Stores .4.85 0.15 12 Hongkong Chinese Ltd .0.96 0.01 390 Alpha General
    4,565 words
  • Page 15 Advertisements
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  • style shopping
    • Article, Illustration
      Lock icon Mad about Aussie
      731 16  -  A record line-up of international buyers including eight Singapore stores and nine homegrown labels was what CAT ONG found at the biggest Australian Fashion Week to date CAT ONG IF you were a fashion merchandiser yawning at the thought of yet another trade event, the recent Mercedes
      731 words
    • Article
      Lock icon WITH SO MANY STORES STOCKING AUSSIE, HERTS A GUIDE TO FINDING THE STUFF:
      646 16 NEW BABES ON THE BLOCK ANTIPODEAN, Lorong Mam bong Newly opened in Holland Village by 24-year-old Tricia Lum from Perth. Why? "Because Australian fashion falls into that 'friendly' $200 to $400 price point and comes in limited
      646 words
    • instore
      • Article, Illustration
        Lock icon Cheers!
        49 16 WHAT a brilliant way to break the ice when you have new friends over: drink coasters that light up when a glass is placed on it. From Ikea, it measures nine centimetres in diameter and comes in assorted colours. Price: $14.90 for a pack of two battery-operated coasters.
        49 words
      • Article, Illustration
        Lock icon Gone fishing
        54 16  -  Compiled by MIKE CHUA CASUAL yet with a touch of class, this pair of bermudas comes with swordfish motifs that break that bland demeanor. From the all-American label, Brooks Brothers, the machine-washable, fullcotton pair of pants is available in three colours and assorted motifs. Price: $158. Brooks Brothers
        54 words
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  • style design/wine & dine
    • Article, Illustration
      Lock icon Down to the last detail
      1186 17  -  Richard Goh tells GEOFFREY EU why he gave the development of his dream home off Holland Road lots of attention, so much so that he has started a business that caters to other home owners aspiring to unique, quality houses GEOFFREY EU FOR more than
      PHOTOS OF HOUSE COURTESY OF RICHARD GOH; CHRIS LOH  -  1,186 words
  • Page 17 Advertisements
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      Lock icon Page 17 Advertisements Column 1
      607 17 wine&dine with weekendßT The Blue Elephant Restaurant award-winning fragrant, crispy pratas available in its chicken or katsudon with rice. Only $5.50 nett. 12pm to 2.30pm. #01-06 Millenia Walk, 9Raffles Boulevard. daily buffet. Prices starting from $23+++. Tpl* 4HHB rllllVDyM IttffTlOS MrM Lunch: 11.30 am to 3pm. Dinner: 6pm to 10pm.
      607 words
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  • style food
    • Article, Illustration
      Lock icon Customers from hell
      1691 18  -  JAIME EE listens as restaurant staff pour out their frustrations with diners who make them want to spit nails JAIME EE THE customer may be king, but it doesn't mean that his subjects are singing his praises when he's not around. A maitre'd may smile benevolently as
      1,691 words
    • Article, Illustration
      Lock icon Envoy from Alain Ducasse's empire
      698 18  -  By Geoffrey Eu ALAIN Ducasse, one of the greatest names in the culinary world, was in Singapore this week not actually in the flesh, but well represented in the form of Christian Julliard, a leading instructor at Le Centre de Formation d'Alain Ducasse (ADF), or
      698 words
  • Page 18 Miscellaneous
    • Miscellaneous
      Lock icon Page 18 Miscellaneous Column 1
      238 18 CRYPTIC CROSSWORD 27 A flu turned nasty tive (10) 28 Negative responses by mouth organ? (4) 8 Intoxicated, wave to gambler THURSDAY'S SOLUTION 29 Fascinated by return on capi- 4 6 Across: 1 Chancery Lane, 9 tal given to journalist (10) 11 Seat from a sort of music the- Deserting,
      238 words