The Business Times, 7 September 2004

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Total Pages: 31
1 32 The Business Times
  • 15 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial.com.sg MITA (P) 023/03/2004 Tuesday, September 7,2004
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  • 686 1  -  Two more developers apply after Far East gets okay to convert Natwest Centre into 280 flats By KALPANA RASHIWALA [SINGAPORE] The Urban Redevelopment Authority has received two more applications from developers to turn CBD office blocks into apartments, sources have told BT. And
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  • 128 1 Dsn 1,***** (+0.88) ST INDEX FUTURES 1,940.00 (+5.00) siMsa 233.64 (-0.05) SIMSa FUTURES 234.50 (+0.80) MARKETS Monday Change KLSECOMP 838.77 -3.13 NIKKEI 225 11,244.37 +221.88 HANG SENG 13.***** +156.24 SET INDEX 630.87 +179 JAKARTA COMP 784.79 -1.70 TAIPEI WH 5.775.99 ->-14.85 AUST ALLOW) 3.584.90 +0-40 BOMBAY IND 5.246.23
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  • 30 1 TOP STORIES ...PG 2-3 COMPANIES ...PG4-9 SINGAPORE PGIO-11 ECONOMY ..PG 12-13 FOREIGN PGI4-19 AVIATION PG 20 EDITORIAL PG 22 STOCKS .PG 24-25 SHIPPING ....PG 26-29 PROPERTY.. PG 30 32
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  • 764 1  -  Move will give greater flexibility to monetary policy By ANNA TEO [SINGAPORE] The headline forecasts for 2004 may be sizzling again, but the economic outlook for next year is highly uncertain, economists say. As such, the exchange rate band within which the Singapore dollar
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  • Page 1 Advertisements
    • 1 1 COMMENTARY
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    • 26 1 BBS®1 SINGAPORE economy KuSElectronics a sunset industry? Noway! pgh OUTLOOK FOR PSA S&P affirms its top AAA long-term rating for PSA PG 21 111 8"*****1 3000CK
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    • 74 1 PROPERTY Bright outlook for Asia-Pacific property pg 32 A v Breguet. La passion laisse des traces. w •Le R6veil du Tsar Man's Classique alarm wristwatch in 18-carat yellow gold. Self-winding movement -^07/lWf~Vf f <^T~) with small seconds and date Second time-zone indicator Silvered gold dial, hand-engraved on a V. w
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  • TOP STORIES
    • 614 2  -  Borrowers must now give banks written declarations of incentives from sellers By KALPANA RASHIWALA, SIOW LI SEN [SINGAPORE] The Monetary Authority of Singapore (MAS) yesterday tightened the rules on housing loans seen as a move to prevent people from over-borrowing and getting
      614 words
    • 726 2 Asian consumers pay more for M-E crude ASIAN countries, including Singapore, are paying an additional US$l for each barrel of crude oil from the Middle East because it has few alternative suppliers and Gulf crudes are the optimal raw material for Asian refineries. But big Asian consumers such
      726 words
    • 418 3 Airlines cite high costs and delay in building of new US$3.7b airport AFP [BANGKOK] Thailand is losing out to its rivals in the highly competitive battle to become Asia's air hub with high costs prompting airlines to look for cheaper alternatives, the industry
      AFP  -  418 words
    • 602 3  -  Lack of competing supply leaves Asia a captive market By RONNIE LIM [SINGAPORE] Why do Asian countries, including Singapore, have to pay an "Asian premium" of an additional US$l or thereabouts compared with Western buyers for each barrel of crude oil
      Source: Platts  -  602 words
    • 296 2  -  It says it will vigorously defend its position By GENEVIEVE CUA [SINGAPORE] Citibank yesterday said it has "thoroughly investigated" the facts surrounding the charge of professional negligence that was brought against it last week by individual investor Lim Ann Nee.
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    • 412 2 Futures Work! An appreciation of exchanged traded forward contracts Time# Thursday, 07 October 2004 9.00 am to 5.00pm Highlights Venue Anatomy of a futures trade contract specifications in a futures Orchard Hotel Singapore transaction Sampling common futures contracts the Short-term Interest Rate Seminar Fees (STIR) Futures, the Bond Futures, the
      412 words
    • 58 2 Incorporation services in ail 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: Simonne Toh T:+66 6536 3382 F: +65 6535 3991 E: singapore@ocra.com.sg
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  • COMPANY NEWS
    • 533 4  -  It says it has not been approached by anyone with an offer competing with Temasek's bid By WONG WEI KONG NEPTUNH Orient Lines (NOL) yesterday rejected a call to auction the company made by a New York-based substantial shareholder who felt Temasek
      533 words
    • 770 4  -  HOCK LOCK SIEW By WONG WEI KONG SO Neptune Orient Lines (NOL) won't be put on the block, after the independent directors of the national shipping line yesterday ruled out inviting bids for the company. Instead, the directors reiterated its earlier support for
      770 words
    • 543 5  -  HLF aims to raise its non-interest income, and build its unit trust and insurance business By KENNETH LIM THE Spirit of Enterprise entrepreneurship awards honour Hong Leong Finance (HLF) as a Friend of Enterprise for the second straight year today, and Hong
      FILE PHOTO  -  543 words
    • 314 5  -  By JOYCE KOH PLASTIC moulding group Fu Yu Corporation has teamed up with EDB Ventures Pte Ltd (EDBV) to jointly invest $18 million in a new company called NanoTechnology Manufacturing Pte Ltd gy)The start-up will focus on ultra-precision manufacturing such as
      314 words
    • 368 5  -  By TAILA KRISHNAKUMAR IN a move to tap the heartland of Singapore, OverseaChinese Banking Corporation yesterday signed an exclusive tie-up with NTUC Link to offer greater benefits and rewards to union members and the wider working community. The collaboration
      368 words
    • 372 6 Reuters CONTRACT chip maker Chartered Semiconductor Manufacturing could fall back into loss in the fourth quarter due to start-up costs for its newest factory and flagging customer demand, analysts said. Chartered, the world's third-largest supplier of made-to-order microchips, ended a three-year lossmaking
      Reuters  -  372 words
    • 462 6  -  Region's stronger economies, smooth political transitions draw them back By JEAN CHUA IMPROVING economies and smooth leadership changes in South-east Asia are bringing private equity fund managers back to the region, with a number of firms preparing to raise funds, according to the
      462 words
    • 379 6  -  New plant will treat 200,000 tonnes of wastewater a day By JEAN CHUA MAINBOARD-LISTED Asia Environment Holdings has secured a 185 million renminbi (Ss3B million) build-operate-transfer (BOT) contract, its second in six months, for a wastewater treatment facility in Nanchang, in Jiangxi
      379 words
    • 309 6  -  By ANDREA TAN AS it announced the cancellation of a planned 37.5 million renminbi (Ss7.B million) contract yesterday, China-based Bio-Treat Technology also unveiled it has bagged a 205 million renminbi (Ss42 million) deal in Jiangsu province. Mainboard-listed BioTreat, which treats biotechnology waste
      309 words
    • 4461 6 UNIT TRUSTS FUNDS AM Amro Am* Mgt (S'por.) Star Europe Eqty!** 0.71» Star Europe Bond 25* Star Eur006 Bal 1 -036/ Urn/EK*,** 0»8/ Star Asia Bond 1344/ Star Asia Balanced 0.928/ Star Global Technology Fund!" 0 Star Bhv Finance Japan Ft**! 1 0.771/ Mutti Strategy Fd :~_V Star Asia Bond(USD)
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    • 780 7 Analysts cite local banks' stranglehold on distribution but this is seen easing Reuters MUTUAL fund firms could easily be forgiven for thinking Singapore was a dream market. After all, the city state is Asia's third-most prosperous country, with a per capita income
      Reuters; FILE PHOTO  -  780 words
    • Article, Illustration
      605 7 LKN-Primefield to have new debt restructure plan BELEAGUERED LKN-Primefield Ltd said it will adopt a revised debt restructuring plan which will see its outstanding bonds reduced from $288.4 million to $172 million. KPMG Corporate Restructuring Services will also be appointed independent special consultants. KPMG will safeguard the interest
      605 words
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  • SINGAPORE MARKETS
    • 509 8  -  STOCKS Some analysts expect the soft patch that the US economy is in now to be short term in nature TEH HOOI LING Senior Correspondent THERE was not much interest in the Singapore market yesterday with many players staying on the sidelines as the
      Source: Bloomberg  -  509 words
    • Article, Illustration
      911 8  -  Compiled by KENNETH LIM Creative Technology Sept 6 dose: $18.00 CREATIVE gave a rare insight to BT, detailing their "four brands" strategy which essentially aims to capture every market available high end, mass, OEMs and a lowend brand originating out of China. They plan to hire more engineers
      Source: Bloomberg  -  911 words
    • Article, Illustration
      419 8 OTHER SINGAPORE INDICES Sep 6 VALUE CLOSE BT OB/OS 113.00 -113.00 BTCADI -*****.00 -14.00 BT 10-day MA -*****.00 +12.00 All-SG Equities 505.61 -0.55 SG Equities Elect 156.79 j0.63 SG Equities Fin 1591.97 -0.39 SG Equities Prop 467.20 -0.33 SIMSCI 233.64 -0.05 SiMSCI Futures 234.50 +0.80 MOST ACTIVE STOCKS VOLUME NQL
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    • 503 8 CURRENCIES Reuters [SINGAPORE] A weaker South Korean won was the notable exception yesterday as most Asian currencies ended barely changed after their stock markets recovered early losses and the Japanese yen bounced off twoweek lows. The yen recovered to near 110 per dollar,
      Reuters; REUTERS  -  503 words
    • TRADES TO WATCH
      • 132 8 THE director of an Asti Holdings subsidiary pared his stake to 0.15 per cent from 0.2 per cent after selling 150,000 shares on the open market. Last Friday, Mr Lau Hoo Shoon sold 70,000 shares at 45 cents apiece, and yesterday sold the remaining 80,000
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      • 147 8 INSTITUTIONAL investors have been taking an interest in computer monitor maker TPV Technology ever since the mainboard listed company said interim net profit for the period ended June rose 68 per cent year-on-year to US$7 million. The Government of Singapore Investment Corp (GIC) became
        147 words
      • 169 8 BRILLIANT Manufacturing executive director Koh Swee Yong has been buying up shares of the hard disk drive baseplate maker. The latest was a 100,000-share open-market purchase on Friday last week priced at 59.5 cents each. A day earlier, Mr Koh bought another 100,000 shares at
        169 words
      • 61 8  -  Compiled by KENNETH LIM MCL Land's outgoing managing director, Lim Ee Seng, exercised all his 360,000 share options yesterday and now controls a 0.1 per cent stake in the property developer. The options, converted in three tranches of 120,000 shares each, were exercised at $1,
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  • SMALL CAPS
    • 774 9  -  It buys Australia's largest private creative design management school for A$16.5 million, reports KENNETH LIM KENNETH LIM IF acquisitions are a test of a company's strategy, fashion and design education group Raffles LaSalle may have aced its latest exam. Raffles LaSalle yesterday said it had
      FILE PHOTO; surce: Bloomberg  -  774 words
    • 443 9  -  By TEH HOOI LING OUR small capitalisation portfolio continued to outpace the UOB Sesdaq Index. For the five trading days to yesterday, it inched up 0.4 per cent, against a slide of 0.7 per cent for the second board index. But our portfolio trailed the
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  • SINGAPORE NEWS
    • 503 10  -  Latest figures for 2001-2002 show growth was fuelled by investments from Europe By CHEN HUIFEN CUMULATIVE foreign direct investment (FDI) in Singapore stood at $239 billion as at end 2002, representing an encouraging 5.2 per cent growth despite a drop from North
      503 words
    • 207 10 THE Workforce Development Agency has started a new "place and train" programme to equip unemployed Singaporeans with skills in the electronics sector. Called the Electronics Re-skilling for OperatiONs (ElectßON) programme, it provides theoretical and practical training for participants so that they can
      FILE PHOTO  -  207 words
    • 305 10 SINGAPORE'S Hua Mei Seniors Clinic has been chosen as the World Health Organisation's first test site to develop guidelines for agefriendly primary care across the globe. The guidelines will underpin three principles: building a more conducive physical environment, adopting
      305 words
    • 652 10 The Straits Times A HIGH Court hearing to assess the damages that Chee Soon Juan must pay Senior Minister Goh Chok Tong and Minister Mentor Lee Kuan Yew for defaming them was held yesterday in Dr Chee's absence. Counsel for the plaintiffs, Davinder Singh,
      The Straits Times  -  652 words
    • 365 10 AFP CONFIDENCE among AsiaPacific travellers is on the upswing with ticket bookings increasing at a healthy pace and many consumers in key countries planning a trip, two surveys released yesterday showed. Travel bookings in July made with Abacus, the region's largest ticketing and reservations
      AFP  -  365 words
    • 183 10 S'pore, India end 9th round of trade talks SINGAPORE and India held the ninth round of talks on their economic cooperation agreement on Sept 1-3. Special secretary for commerce S N Menon led the Indian delegation while permanent secretary for trade and industry Heng Swee Keat led the
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  • Page 10 Advertisements
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    • 97 10 4flk| Franchising Lirensing2oo4 -17 s« P t 2004 Suntec Singapore The Meetini Point For international Provon Concepts aK. N}'\> 5P n Je p /j* H Bjarj ea B3 JSL gfranchising C °~"P"*»tfttr SIHOHI* BPV Singapore OO nno»»*»» UiH S OQ sinaAPOßf 4 —i 3 F*® Ltd -55b: Amunes rocoftect amex
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  • SINGAPORE FOCUS: INDUSTRY
    • 1249 11  -  ELECTRONICS MTI says manufacturers here are shifting to making high-end components, reports CHUANG PECK MING CHUANG PECK MING BEFORE electronics, there was the textile and garment industry. It drew much foreign investment, provided the most jobs and accounted for a big chunk of exports. Then rising
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    • 314 11 Recent key projects in Singapore Philips Electronics Toshiba launched TV design and manufacturing projects. Hewlett-Packard investing US$1 billion over 5 years and expanding existing production, including production of the topof-the-line Superdome computer server. STMicroelectronics investing US$250 million over 3 years for expansion. Seagate Technology investing US$300 million
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    • 102 11 v _ru www.globaltronics.com.sg r r > <?r^ r ji IT ii[M'l l ■7- 1 September connecting ASIA through s 9acore technologies/ Incorporating Electronics I NEPEON Asia Electronics ElectroTEST Asia Manufacturing International 1 asia.pacific Services Asia Procurement OPTOelectronics DESICNTech Asia J Asia Your most comprehensiue platform to source for cost effectiue
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  • ECONOMY WATCH
    • 683 12 Spending on new plant, equipment rises 10.7%; up for 5th straight quarter Reuters [TOKYO] Capital spending by Japanese firms maintained its strong recovery in April-June, a government survey showed yesterday, raising chances that economic growth figures for the quarter will be revised higher. Spending
      Reuters  -  683 words
    • 536 12 Reuters [SHANGHAI] China's central bank said it was considering further measures to rein in growth in the world's seventh-largest economy, but would take a hard look at August economic data before making any decisions. In comments to Reuters, central bank chief Zhou
      Reuters  -  536 words
    • 613 13 Its poll also shows Mr Bush gaining voter support on his economic policies Bloomberg [WASHINGTON] Six out of 10 adults in the US say economic conditions in the country are fair or poor, and a majority says they would
      Bloomberg; REUTERS  -  613 words
    • 378 13 Govt trims growth forecast this year to 6-6.5% Reuters [BANGKOK] Thailand's economy grew a moderate 0.8 per cent in a second quarter marred by rising global oil prices and new bird flu outbreaks, Thailand's state planning agency said yesterday. The quarterly
      Reuters  -  378 words
    • 274 13 Bloomberg [HONG KONG] Hong Kong's retail sales rose for a 12th straight month in July as tourists thronged stores and an improving job market spurred demand. Sales increased 11 per cent from a year earlier to HK$l6.2 billion (553.6 billion) after jumping
      Bloomberg  -  274 words
  • Page 12 Advertisements
    • 344 12 DISTINGUISHED TECHNOPRENEURS FORUM Incorporating Forum on Silicon Valley Asia Links SPEAKERS. Dr Hong CHEN Mr Yong Ying LOO Founder Chairman Co founder Hr rhrictAnhor f*MIA The Hina Group Aromatrix T echrologies Pte Ltd IJI V-NriblUJJNci v,NIM Founder Chairman (Keynote Speaker) GRIC Communications Inc Keith STEPHENSON Chief Executive Officer l^l r
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    • 658 12 Call toll-free 1800 289 8822 In the matter of the Companies Act, Cap 50 And In the Matter of DELPHA INVESTMENTS PTE LTD NOTICE OF MEETING OF CREDITORS NOTICE IS HEREBY GIVEN that pursuant to Section 296 of the Companies Act, Cap SO, a meeting of the creditors of Delpha
      658 words

  • Page 13 Advertisements
    • 242 13 En-bloc Sale of Coral Island To Developer. YOUR BLUEPRINT FOR SUCCESS. A Ready Pool of International Buyers Awaits Your Unique New Development. --.#*#s&**.:■ m i |pp An invitation to tender. This unique en-bloc island sale offers the I from Singapore's Central Business District, it is also within easy reach successful
      242 words

  • MALAYSIA/INDONESIA
    • 779 14  -  INDONESIA INSIGHT Businesses want new govt to address infrastructure problems and cut red tape SHOEB KAGDA Jakarta Correspondent OVER the weekend, amid the calm and quiet of the Novotel Bogor hotel, some of Indonesia's leading economists, corporate chieftains, foreign businessmen with interests in the country and
      779 words
    • 540 14 [KUALA LUMPUR] The Malaysian government should take the opportunity of the forthcoming Budget 2005, to be tabled on Sept 10, to look into enhancing the country's competitive position, The Star quoted the Malaysian Institute of Economic Research (Mier) executive director Mohamed Ariff
      540 words
    • 124 14 AP [WELLINGTON] New Zealand and Malaysia have agreed to carry out studies on a possible free trade deal, Trade Negotiations Minister Jim Sutton was quoted yesterday as saying in Jakarta. Malaysia's Trade Minister Rafidah Aziz reacted "very positively" to the idea, media
      AP  -  124 words
    • 113 14 Bloomberg [KUALA LUMPUR] Malaysia detected another infection of a lethal bird flu strain following surveillance near the village where it first discovered the outbreak last month, the Veterinary Services Department said. The infection involved 10 chickens and 20 quails reared by a villager
      Bloomberg  -  113 words
    • 394 14 Indon asset sale agency values 51% stake at US$260m Reuters [JAKARTA] Indonesia has put a valuation of up to US$26O million on a hotly contested stake it plans to sell in seventh-largest lender PT Bank Permata Tbk, an official said yesterday, topping media
      Reuters  -  394 words
    • 2433 14 vol s«» m *h cmm A AM Realty 1.39 -0.01 96 Abric M9 -0.00 26 ACP Industries 1.37 -0.05 40 Advance Synergy —....0.38 -0.02 258 Advent* .0.33 0.01 445 AE Multi .....0.91 -0.02 160 Affin Holdings .0.15 -0.01 313 Ahmad Zaki Res J.10 unch 0 AlCCorp
      2,433 words
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  • MALAYSIA COMPANIES
    • 637 15 H1 pre-tax prof it surges 136% to RM14m after streamlining [PENANG] Mainboardlisted Leader Universal Holdings Bhd is reaping the fruits of a revamp under the new CEO. Former banker Sean H'ng took over the helm at Leader Universal about seven months ago,
      THE STAR  -  637 words
    • 426 15 The wood flooring maker will be listed in Oct or Nov [KUAIA LUMPUR] TSH Resources Bhd hopes to raise about RM71.5 million (5532.3 million) from the listing of its wholly-owned subsidiary Ekowood International Bhd on the Bursa Malaysia main board, says a report
      426 words
    • 210 15 Bernama [KUALA LUMPUR] Property developer, Brem Holding Bhd expects higher growth from its property development to contribute to its revenue. Its managing director, Khoo Chai Kaa had said that last year property development contributed 40 per cent to the company's revenue. He said
      Bernama  -  210 words
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  • CHINA
    • 481 16/17 Bloomberg IBEIJINGI China plans to al low individuals to speculate on the price of gold through the Shanghai Gold Exchange in a bid to boost trade, said Zhou Xiaochuan, governor of the central bank. The government wants to encourage more trade in
      Bloomberg; REUTERS  -  481 words
    • 237 16/17 Bloomberg [TAIPEII Taiwan, which has Asia's fifth-largest stock market, will ease trading restrictions next year, including the 7 per cent limit that shares may move in one day, in a bid to attract foreign investors, the island's new financial regulator said. The Financial
      Bloomberg  -  237 words
    • 184 16/17 Reuters [HONG KONGI A mainland Chinese carrier's plan to buy a stake in the telephone network of Hong Kong's dominant fixed-line phone company PCCW Ltd may fall apart as the two have so far failed to agree on a valuation, the South China Morning Post reported
      Reuters  -  184 words
    • 370 16/17  -  H1 volume jumped to 30.4% of mutual fund sales, from 13% in entire '03 By JEAN CHUA FIZZLING regional stock markets are driving Hong Kong retail investors into cash funds, despite their relatively low returns. In the first six months of the
      370 words
  • INDIA
    • 58 16/17 [NAXALBARI, India] The lot of Indian farmers, who account for about of 70 per cent of the country s population of more than one billion may improve after the new federal government vowed to protect their interests. Thousands of farmers are saddled with huge debts, driving many
      REUTERS  -  58 words
    • 462 16/17 Banks can value debt securities at purchase price Bloomberg [MUMBAI] Demand for Indian bonds will increase for a third day after the central bank eased accounting rules for banks, allowing them to value more debt securities at their purchase price. Demand for
      Bloomberg  -  462 words
    • 358 16/17 Reuters [NEW DELHI] India's Oil and Natural Gas Corp (ONGC) has bought stakes in oil and gas projects in Russia. Vietnam, Sudan, Myanmar and Australia, and plans to invest US$l.6 billion in such investments in the fiscal year to March 2005. The
      Reuters  -  358 words
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  • ASIA-PACIFIC
    • 502 18  -  Drawn by the region's rich resources, Japan seeks closer ties By ANTHONY ROWLEY in Tokyo JAPAN is stepping up its "Silk Road Diplomacy" in Central Asia, where oil and other valuable resources are available in an integrating region that is also being courted by
      502 words
    • 399 18 Reuters [TOKYO] Rapid growth in the number of older people in Japan has raised visions of an economy reeling from the strain of pension costs and lower productivity. But rather than being a burden, Japan's growing
      Reuters; AFP  -  399 words
    • NOTE BOOK
      • 85 18 Reuters [HONG KONG] The SCMP Group, publisher of Hong Kong's South China Morning Post newspaper, yesterday posted a three-fold increase in first-half net profit, on rising revenue and a Sars-affected base last year. SCMP, controlled by Malaysian tycoon Robert Kuok, said earnings
        Reuters  -  85 words
      • 82 18 AFP [HONG KONG] Hong Kong's Hutchison Whampoa yesterday said it has applied to list its second-generation mobile telephone business in New York and Hong Kong. It said it has filed with the US Securities and Exchange Commission for the
        AFP  -  82 words
      • 60 18 Reuters [SYDNEY] China may begin filling a strategic oil stockpile in the next year as demand at home surges and concerns mount over global supply disruptions, said Zhou Dadi, director general of the Energy Research Institute, yesterday. He said China would initially
        Reuters  -  60 words
      • 45 18 Bloomberg [HONG KONG] Hopewell Holdings said full-year profit more than doubled, boosted by earnings from highways and hotels. Net income for the year ended June 30 climbed to HKSI.4S billion (*****.7 million) from HK$6l2 million a year ago. —Bloomberg
        Bloomberg  -  45 words
    • 320 18 AFP THAILAND'S state-run lottery has "intoxicated" the public and caused billions of dollars in losses due to lost productivity by people hoping to strike it rich, according to a study published on Sunday. Academics at a Bangkok seminar released results of a study showing
      AFP  -  320 words
    • 535 18  -  NEWS ANALYSIS Spending cuts may do more harm than good, says AL LABITA in Manila AL LABITA PHILIPPINE President Gloria Arroyo's panicky move to find ways to contain budgetary woes have attracted a wide array of ideas, ranging from the sublime to the ridiculous, but analysts
      535 words
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  • WORLD
    • 399 19 BIS REPORT BIS report says they are also the leading depositors in Q2 with record US$97b AFP [BASEL] Emerging market countries, notably in Asia, are proving to be among the most active international borrowers this year as well as the leading depositors in overseas
      AFP  -  399 words
    • 538 19 It is said to have switched clients into products that paid one-off fees [TOKYO] UFJ, the Japanese bank at the centre of a merger battle between Mitsubishi Tokyo Financial Group (MTFG) and Sumitomo Mitsui Financial Group, may have artificially boosted its profitability in
      AFP  -  538 words
    • 552 19 Bloomberg, Reuters [BASEL] Large speculators, including hedge fund managers, may have contributed to a "herd-like behaviour" that vaulted oil prices to record highs this year, the Bank for International Settlements (BIS) said. The bank, which acts as a central bank for national central
      Bloomberg,; Reuters; REUTERS; Source: Bloomberg  -  552 words
    • 286 19 Reuters [EXETER] Women are increasingly breaking through the glass ceiling to get seats on company boards but only to find themselves teetering on the edge of the glass cliff, a leading psychologist said yesterday. Alex Haslam said research showed women were often only appointed
      Reuters  -  286 words
    • 385 19  -  By TAILA KRISHNAKUMAR IRELAND'S biggest bank wants to raise up to two billion euros (Ss4.l billion) in covered bonds and is aiming 10 per cent of the offer at Asian investors. Bank of Ireland (BOI) has been pitching the bonds in
      385 words
    • 303 19 AFP [WASHINGTON] The White House blocked a congressional investigation into alleged links between the Saudi government and two Sept 11, 2001 hijackers, a top US senator has written in a book to be released on Tuesday. Florida Senator Bob Graham,
      AFP  -  303 words
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    • 37 19 For Travel between 1s? Octobe- till 15t r i November 2004 BLUESKY FARES Return fa r es':om Stngap&fe v b»& c^toL cJkj to \°>r LONDON from SGDS7S9 airport ;ar,-»s f.H Seals are limited Terms and conditions apply
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    • 41 19 u S y "f 2 5i 3 |over4oo locations Worldwide 1 Ask us about Corporate, Individual or Group Instruction. Call Berlitz today 6733-7472 or visit www.berlltz.com fj 501 Orchard Road #05-03/04 Wheelock Place Singapore *****0 J iB. OH "OME i mmamansßissamßßSEEß^mm
      41 words

  • AVIATION
    • 424 20 Bush threat to challenge Airbus subsidies at WTO dubbed a poll stunt AP [JAKARTA] US aviation giant Boeing Co, facing stiff competition from Airbus, won't be helped by a cut in government-backed loans to the European aircraft maker, a top EU official
      AP; REUTERS  -  424 words
    • 214 20 AP [DALLAS] Northwest Airlines Corp reversed a controversial service charge on travel agents after the nation's largest carrier, American Airlines, imposed several new ticketbooking fees but declined to match the one on travelagent transactions. American, a unit of AMR Corp, will begin assessing a service fee
      AP  -  214 words
    • 1896 20 CITY fUCHT IT* FUCWT UP Adaiaid* BA7382 2215 Qf82 2215 LH9770 2300 SQ229 2300 Amsterdam SQ323 0615 GA974 0130 KL837 1450 KL838 2255 SQ324 2345 Atfcam 5Q347 0550 Auckland EK405 0100 EK404 1520 EK431 0215 SQ281 1810 LH9817 1900 LH9616 2020 NZ23 1900 NZ28 2020 OS8672
      1,896 words
    • 273 20 AFP [MANCHESTER] An undercover reporter posing as a security officer at Manchester Airport witnessed colleagues knowingly using faulty metal detectors and fiddling bag search figures, the documentary claimed. The programme follows undercover journalist Michelle Cox, who worked at the airport for
      AFP  -  273 words
    • 200 20 Bloomberg [TOKYO] Typhoon Songda grounded flights, caused power outages and left 21 people injured as it moved over southern Japan and churned north towards the Sea of Japan. Japan Airlines Corp, the country's largest carrier, cancelled 40 domestic flights, it said in a press release,
      Bloomberg  -  200 words
    • 573 20 Reuters [LONDON] Would-be investors in Italian national airline Alitalia await its most radical restructuring proposal this week, keen to see a fresh break from past failed reforms and years of losses. Alitalia, which is 62-per cent owned by the Italian state, risks collapse
      Reuters; AP  -  573 words
    • 394 20 Bloomberg [LONDON] Boeing Co chief executive officer Harry Stonecipher said James Albaugh, head of the secondbiggest US military contractor's defence business, is one of six people he recommended as a successor when he retires in two years. "1 just wish I had three of
      Bloomberg; BLOOMBERG  -  394 words

  • SHIPPING
    • 630 21  -  It says management is the most concern In the medium term By VEN SREENIVASAN Standard Ratings Services yesterday affirmed its top 'AAA' long-term rating on PSA Corporation, while pointing out that in the medium term "management policy" would be the most
      FILE PHOTO  -  630 words
    • 46 21 A giant model of the Jervis Bay, responsible for bringing thousands of immigrants to Australia, being carried to its position at 'an exhibition celebrating the 150 th anniversary of Station Pier where immigrants landed in Melbourne. The exhibition opens on Oct 3.2004 ii AFP
      AFP  -  46 words
    • 284 21 SGX '000 s«p6 s$ vd CH Offshore 037 unch 181 ChuanHup 0.55 urxh 592 Cosco Investment 0.83 -0.01 2646 CWT Distribution 0.49 -0.01 14 Ezra Hldgs 0.99 unch 43 Freight Links 0 09 -0.01 18 Grand Banks Yacht 0.80 -0.01 8 Java Holdings .0.90 -0.01 454 K1 Venture
      284 words
    • 363 21  -  By DONALD URQUHART {SINGAPORE] Singaporelisted Sinwa KS Ltd, a leading ship supply company, has launched its acquisition strategy by buying small local player Windsor Marine Pte Ltd. Since listing in 2003 the group has emphasised its global ambitions, citing the limited potential for
      363 words
    • 161 21 Bloomberg [SINGAPORE] Malaysia International Shipping Corp, the world's largest owner of liquefied natural gas carriers, ordered as many as five LNG ships from Japan's Mitsubishi Heavy Industries Ltd. The order is part of a plan announced last month by chairman Mohd Hassan Marican
      Bloomberg  -  161 words
    • 262 21 [SINGAPORE] In a major step towards taking a green message to die market, global shipping and logistics company Wallenius Wilhelmsen has tied up a three-year project with the international conservation organisation, the World Wide Fund for Nature (WWF). The company will motivate its business
      262 words
    • 967 21  -  STRAIT TALK By DAVID HUGHES JUST two weeks ago, this column had an article based on the assumption that although price fixing in the liner shipping industry had become an almost irrelevant issue, the lines would attempt to cling on to
      967 words

  • EDITORIAL & OPINION
    • 519 22 EDITORIAL DURING his maiden press conference, 100 days after taking office on May 22, Indian Prime Minister Manmohan Singh vowed to keep India's growth story intact, despite signs of rising inflation and a patchy monsoon. There is a good chance that he will deliver on
      519 words
    • 1026 22  -  Faced with lacklustre stocks, pension funds are exploring alternative asset classes NEIL BEHRMANN London Correspondent AGEING baby boomers and growing pension fund liabilities and shortfalls are changing the landscape of global markets. Numerous European and North American pension fund managers are steadily liquidating equities and switching the
      AP  -  1,026 words
    • 730 22  -  BOTTOM LINE SHADA ISLAM Brussels Correspondent THE European Union's eleventh-hour decision to go ahead with an Asia-Europe meeting (Asem) in Hanoi next month despite misgivings about consorting with representatives from military-run Myanmar is a victory for the bloc's more pragmatic policy-makers and a reflection
      730 words
    • 1701 23  -  Its CEO Liew Mun Leong is steering the property group towards more overseas investments, especially in Shanghai By WU HUIMIN IN recent years, Shanghai has become a "war zone" for developers from Hong Kong, Taiwan and Singapore, who see Shanghai as a strategic area for
      REUTERS  -  1,701 words
    • 754 23  -  By Bob Herbert NYT THE US Labor Department reported last week that 144,000 payroll jobs were created in August. Let's put that in perspective. The number was below market forecasts. It was also below the number of jobs needed to accommodate the growth
      NYT; AFP  -  754 words

  • Page 23 Miscellaneous
    • 307 23 CRYPTIC CROSSWORD ACROSS car alongside (6-4) 1 Our Lord set the fashion and 4 heart and q to*'Thp Sound 5 Welsh dish that's underdone, 9 Miming music to The Sound somewhat (7) m rprti?nK/ e Hrr,nnfnn Pnnlrch ran 6 E J eCt leader from mediaeval 10 Certainly dropping English can
      307 words

  • 9703 24 STRAITS TIMES INDEX STOCKS Sledi name W1 Ow Ogj> Slodcww Wt Og» r>iii|i Allgreen 50c 032 1-<10 >0 030 NOL ZOB 2«I0 0.010 8lLlnt)US20c 0-48 0 990 -Q.020 OCBC 10 66 1J500 0200 CapitaLand 1 17 1 680 4)010 Pathway H 25c 065 1150 .0.020 Chart SemiCond 26(
    9,703 words

  • 5489 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES la local cwr In SS In IKS %Of yr «dy r «<v S«pl Indli Char-g# Om»y C>.ao<)< C'.anq* O.m'gu Change WorldIndex Preliminary 790.5 ,0.1 IS -0.2 05 04 lEAHPMirTxnJV 724.8 02 34 -04 05 -06 03 Europe Preliminary 988.6 0£ 23 0.1 -0.5
    5,489 words

  • Page 26 Advertisements
    • 1120 26 I IMPORT 1 NORTH AMERICA j| [l AUSTRALIA/NEW ZEALAND I IBUPCT BHUTTIE EXPRESS (SSX) I VtSSfl. VOYLGO sm PKG —1 r PtO NEDUOYD KOK 41W33 20/08 00/09 07/09 55 55 51 S* «5_ LOS ANGELES EXPRESS 07W34 26/01 13/09 14/09 API MEXICO 24N 29/00 Jl/00 02/09 04/09 00/09 13/09 15/09
      1,120 words
    • 834 26 IINTERASIA KOtO SERVICE »Bsa/vor MMfom hbchiwu wo «h to an jw SIMm VENTURE /10 IS 3.1 07/09 11/09 SIVAfTS VENTURE /> I IS 3.2 19/09 M/ 09 27/09 30/ M 02/10 STRAITS VENTURE 2 IS 3.2 07/10 10/10 12/10 [WIST ASIA/RENOAI RORQ SYS VISSa/VOY I RAMfffT) I HPGHTMR) I TON
      834 words

  • Page 27 Advertisements
    • 1022 27 mvA voniDirwi t a range of shipping modes to ensure timely, ratable services cowering major ports in Norm America. Europe, Vyf—j Asia, Africa Oceania. Abe flcttpl btrv-Aria Orpt] Ik KtISAN KWANGYAMG SHANGHAI YAMIAN XIAHBI QMGDAO KIAWAM JAKARTA SWAftAYA KAOHSIUNC IAHCKCX LA» CHAIAH6 HOOfIWIMH PAS* GUDAH6 PwAHG MtTKHAHG For Schedules, BL
      1,022 words
    • 1235 27 VESSEL VOY SIN PKG I GOLDEN GATf 1430 M I 10/9 I 11/9 1 13/9 I I PERTH BRIDGE 062 A 9/9 11/9 GOLDEN TRADE 407N My 9 15/9 717/ __M_ 18/9 1 HERTFORD 009N I 71/9 IT? 9"24 9 1 I I W" gRIDGE t* 63 23/9 25 9
      1,235 words
    • 958 27 WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS VESSEL VOT S* MUUIG COLOMBO M. SHIVA COtOWO iomwkl Mm w«r ma 11a -Jisg izjh KOttfawiU YPWO49 13 Stf 15 SEP 18 SEP 21 SEP 24 SEP INDIRA GAWDHI OOteW MSg 25 SEP 2U2 01 00 KAJIVGANDHI
      958 words

  • Page 28 Advertisements
    • 1011 28 U&Jlf wallenius wilhelmsen website: http://www.2wglobol.com vissti rnWlSnw ik mo how mi* sav mi ore wt «w moo VMM AG4OI 1201 MS 5.75 M I 15/09 13/10 TARAGO AF4IB 1320 To» 6.4 M I 21/09 21/10 21/10 29/10 02/11 01/11 04/11 25/10 I«AS AMI 9 4201 MS |MM 02/10 24/10 03/11
      1,011 words
    • 885 28 ves u m si reu Jffssa m an m wtmip* mm o»/w Q9/Q9 EMJgU 4131 »Z®S 12ZB— CSfMOI 007 V 09/09 11/0* MLWKUH 5244 M/fIS 12/ M nc iamoa m» 10/09 10/w 7 isia 11/ M 14ZM ami i2?ig iizfi? Lzzfis— P C>AU 4132 'V w 1 17 /<* r/KMHPA
      885 words
    • 528 28 BSA x MYANMA BB FIVE STAR LINE (Mvmmmt Natioasl Um) Loodiij for Yangon vtssu vor SM PU PIN PGU PAGAN 337W SIS HPA-AN 3 WW SU> SU> IN MALAYSIA: lOUSTIAD SHIPPING AGfNCKS KIR: 03-*****300 P«L 03-3176*101 PIN: 04-2****** ACCEPTIM COiVEiTIOIAI CBO HKG SM KG SM POI PU HK MAY! OCIAN
      528 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 4007 29 s Kr.tr- s?as: 'xar s su *rr 5Sas 'tar ss su 5 be 'ssr s st. "rr as he 'asr s st "tar Z x?. mimoer numoer >in Destn Name Name Numb«r Number To ABIDJAN (ABJ) 2003 Cote D'lvoire T F0SSURMER <FOS) 2129 France
      4,007 words

  • FOCUS: PROPERTY
    • 373 30  -  Varsity Park, Kovan Melody and Ris Grandeur happy with sales in previews, reports ANDREA TAN ANDREA TAN CAPITALAND has sold 66 units of its Varsity Park condo in a preview while the developers of Kovan Melody and Ris Grandeur are pushing ahead with official
      373 words
    • 254 30 Reuters (HONG KONG] China property developer Shui On Land, a sister firm of Hong Kong-listed Shui On Construction and Materials, yesterday said it aimed to go public in about two years. Shui On Land, which has two high-rise projects in fast-developing
      Reuters  -  254 words
    • 261 30 Bloomberg [HONG KONG] Hong Kong plans on Oct 12 to auction a plot of land for a minimum price of HK$5.O2 billion (Ssl.l billion), the government's most expensive sale this year. The land, located in Ho Man Tin in Kowloon, has a site area of
      Bloomberg  -  261 words
    • 699 31  -  A study indicates the UK residential market will cool off for a year and then stabilise for five years, NEIL BEHRMANN reports NEIL BEHRMANN BRITAIN'S property bubble is at last beginning to deflate, and for patient Asian property investors there may well be new
      BLOOMBERG  -  699 words
  • Page 30 Advertisements
    • 94 30 ■■Bw, i Should you go for growth or value stocks? Or should you invest in stocks at all? It's form a sound basis for financial decision-making. With Singapore's No. 1 business paper, the kind of tough decision that can mean the difference between making a profit or you can be
      94 words

  • Page 31 Advertisements
    • 129 31 /gU—. V3^services? Call our C.A.T.S. hotline at 1800-289-9988 and our friendly ca.t.s. sales personnel will serve you. Buy it sell it. Find it 1 IIM lIIIH 111 1,1 Where to wine, dine and entertain... A World of Exclusive Privileges Treats 7 www^UnersxonLsg WTB a E$ >' J Qty U.milnl Caotr*.
      129 words
    • 140 31 oTjust Tempura? HOTEL phoenix I Bv-HShp IB Get ready to be spoiled for Japanese I Hp JJP* choice with our tempting Buffet Lunch I selections. Slurp up the all- 12pm 2.30pm I KiWrIT rZ iU na, J l ayoU^ adult $26.8o I I c rf y°" child 17 .8o I
      140 words
    • 99 31 The H»CO for Moststgis Coolest Nightspot For A Nostalgic Time Relive the good old days wtth superb live entertainment brought tcf you by our resident band. "The Velvets". Happy Hours: 2pm to 8.30pm, Monday to Saturday. 2pm to 1.45 am, Sunday. Make your favourite song requests, enjoy one-fbr-one on standard
      99 words
    • 53 31 MERITUS MANDARIN SINGAPORE BUFFET DINING AT ITS BEST Fresh oysters, delectable lobsters, savoury honey-glazed ham, US Prime Rib of Beef and many more mouth-watering dishes rZ~ to leave you spoilt for choice. 5 Reservations: 6831 6271/72 MEATUS MANDARIN t kmn 333 Orchard Road, Singapore *****7. Tel: +65 6737 4411. Fax:
      53 words

  • 763 32  -  Boost to come mainly from growth in representative offices, offshoring activities. Investors seen checking out second-tier cities as well, reports VINCE CHONG VINCE CHONG ASIA-Pacific is hot. Economies are on the rise, and cost reduction is no longer the top priority for multinational corporations planning
    Source: Jories Lerg  -  763 words
  • 329 32  -  By KALPANA RASHIWALA UNITED Overseas Land (UOL) and Low Keng Huat (LKH) have signed a deal to buy the freehold Kim Tian Plaza in Tiong Bahru for $40.2 million, according to sources. The two plan to redevelop the site into apartments. The
    329 words
  • Page 32 Advertisements
    • 258 32 l~Pk J I' ,*> T I I I 1 IB m1 1 j J .51 ■i| n Plot size from 1,000 sq m onwards No land rent payable Minimum Plot Ratio of 0.7 No minimum investment criteria Ideal for future expansion Zoned for general industrial Build your own detached building
      258 words
    • 129 32 FACTORIES IN JOO KOON VICINITY FOR SALE 2 units of JTC standard semi-detached factory with mezz office Tenure: 30 years wef 1978 Land Area: Approx. 118,000 sq ft GFA: Approx. 67,600 sq ft A single-storey purpose-built factory/warehouse cum office Tenure: 30 +30 years wef 1981 Land Area: Approx. 137,000 sq
      129 words
    • 208 32 Jones Lang VVy/J LaSallf I w fj GOOD CLASS BUNGALOW LAND AT CORNWALL GARDENS 2 Plots of Good Class Bungalow Land V T 31A 1 Plot 1:20,692 sq ft (approx.); Plot 2:22,768 sq ft (approx.) 29 Option to Acquire Both Sites 27 T 1 f~ Prestigious Address Within District 10
      208 words