The Business Times, 17 September 2004

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Total Pages: 32
1 32 The Business Times
  • 13 1 THE BUSINESS TIMES Friday, September 17,2004 online at http*i/business-times.asial.com.sg MITA (P) 023/03/2004 SING
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  • 131 1 STI 1,997.12 (-6.87) ST INDEX FUTURES 1,999.00 (unch) siwsa ***** (-1.86) SIMSa FUTURES 240.70 (-2.10) MARKETS Thursday Change KLSECOMP 857.79 +4.55 NIKKEI 225 11.***** -1932 HANG SENG 13,209.84 +125.44 SET INOEX 662.39 +0.11 JAKARTA COMP 813.06 -2.42 TAIPEI WW 5,891.05 +19.98 AUSTALIORD 3,636.70 +0.20 BOMBAY IND 5,477.68 +57.59
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  • 38 1 TOP STORIES ...PCS Z COMPANIES... P<2 4 f SINGAPORE *010 ECONOMY P011 FOREIGN PC* 121# AVIATION PQil EDITORIAL PG20 LETTERS Pa 21 STOCKS -PQ21 COMMODITIES PG7I SHIPPING 24-27 ARTS FG7S PURSUITS PG19 PROFILE PG10 LIFESTYLE ...PC» J1-I2
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  • 475 1  -  Their overall loans grow 18-21% vs local banks' 0.2-9% By SIOW LI SEN [SINGAPORE] Foreign banks continue to gobble up a huge chunk of domestic loans, including the lion's share of new mortgages leaving local banks pedalling furiously to stay
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  • 435 1  -  It'll drag to court those who don't top up accounts By GENEVIEVE CUA [SINGAPORE] The CPF Board yesterday said it will take legal action against the self-employed who ignore calls to top up their Medisave accounts. An estimated $413 million is in arrears. For
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  • Page 1 Advertisements
    • 57 1 powerboat RACING Glamour hits Marina Bay PG 29 Mil 8 '*****1 *****4 BT ONLINE Subscribe now to The Business Times and get full access to BT Online. This value-added service is FREE to all BT newspaper subscribers. AUGUST TRADE DATA Singapore's August trade data will be announced today. Click on
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    • 183 1 Ha two generations in time The founder of watch retailer Cortina and his son: a love affair with timepieces that spans 1A two generations pg 30 iWi tV Lif In our new weekly series on Singaporeans abroad, Linson Lim of Keppel Land says why he's still in love with Vietnam
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  • TOP STORIES
    • 376 2  -  Costing RM700m, it'll cater to both Malaysians and Singaporeans By EDDIE TOH in Kuala Lumpur MALAYSIAN tycoon Syed Mokhtar Al-Bukhary, who did not have much of an education when he was young, will set up a university in Johor to provide tertiary education
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    • 556 2  -  By RONNIE LIM i-.', [SINGAPORE] Singapore will know by June next year earlier than expected whether Japan's Sumitomo Chemical will opt to join a US$4.3 billion Saudi petrochemical project instead of partnering a billion-dollar cracker scheme £ere. A senioirlSaudi official
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    • 898 2 Couldn't New Lakeside have warned investors? APPLE juice producer New Lakeside shocked the market by announcing an unexpected half-time loss. BT correspondent Kenneth Lim asks if the company could have done more to warn investors in advance. COMPANY NEWS. PG 4 Airocean takes 19% stake in China budget-carrier
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    • 553 3  -  But it warns of risks from rising oil prices, volatile By RAVI KANTH in Geneva THE global economy is expected to grow at a faster 3.8 per cent this year but continues to face serious risks from grave imbalances in demand,
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    • 771 3  -  But it lags in areas like credit information, says World Bank report By VIKRAM KHANNA [SINGAPORE] Singapore ranks third among 145 countries, in terms of the ease of doing business, according to a new report by the World Bank. The Doing Business 2005
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  • Page 2 Advertisements
    • 154 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 i TO ARRANGE A FREE CONSULTATION CONTACT: SimonneToh T:+6s 6535 3382 F:+6s 6535 3991 E singapore9ocra.com.sg 24
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  • Page 3 Advertisements
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  • COMPANY NEWS
    • 648 4  -  Focus turns to other marine stocks Cosco, Chuan Hup gain 4-7% By JOYCE KOH WITH Temasek Holdings having secured majority control of Neptune Orient Lines, market watchers say the takeover saga is over and few expect the investment
      648 words
    • 157 4 ON the day when Temasek Holdings took control of Neptune Orient Lines (NOL), the chief finance officer of the shipping company, Lim How Teck, exercised his share options. Mr Lim picked up 300,000 shares by converting his options on Wednesday at an exercise price
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    • 901 4  -  HOCK LOCK SIEW KENNETH LIM Reporter APPLE juicer New Lakeside's failure to issue a profit warning before announcing a surprise interim loss on Tuesday this week must have left a bad aftertaste in shareholders' mouths. The China-based company said it had not given
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    • 469 6  -  WHAT'S INSIDE Lawyers quote then SCV chairman's letter to back case over cable lease By TANG WENG FAI SINGTEL lawyers went on the offensive yesterday in its suit against Star Hub to prove there had been no common understanding, as alleged by Star
      FILE PHOTO  -  469 words
    • 191 6 CAPITALAND'S Varsity Park, which has sold 105 units so far, has attracted academics to the condominium. Capita Land said academics made Up about 10 per cent of the buyers at the 99-year leasehold condo near the National University of Singapore (NUS). An additional 0.5 to
      191 words
    • 354 6  -  It'll pay RM40m for 24.5% of listed packaging company By TAILA KRISHNAKUMAR IN a move to expand its packaging business in Malaysia, mainboard-listed New Toyo International Holdings has struck a deal to buy a 24.5 per cent stake in Malaysian packaging specialist
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    • 4235 6 UNIT TRUSTS FUNDS CradN Agricoto Aaat Mgt S'por* Ltd CAAMAsS Vision Fund!** 1 044/1097 SHE- vaai sa.Kr—-T_.gj .njss SW Aw I 09*/ StSS 0.847/0.872 —o:§6/ sk£KES=/=7 1**%*$ Star Bhv Finance Japan Fund! 0.766/ 1 346n 386 Mult. Strategy Fd rrJ »«Mn Dynamc-.M/* Star Asia Bc&USD) 0.790 J (£&668 Mutt) Strategy
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    • 651 7  -  It will also tie up with A-Sonic to launch an express courier service By VEN SREENIVASAN FIRST, put together an aircraft avionics and retrofitting company, China's biggest travel agency, a leading regional issuer of credit cards and a freight forwarding specialist. Then,
      FILE PHOTO  -  651 words
    • COMPANY BRIEFS
      • 105 7 Reuters SINGAPORE directory listing services company Sing Tel Yellow Pages is issuing a $150 million 5-year bond to refinance its leveraged buyout deal, debt market news service Basis Point said. It quoted sources as saying the merchant banking arm of United Overseas Bank
        Reuters  -  105 words
      • 36 7 MAINBOARD-LISTED Intraco has entered into an agreement with Apexwell Enterprises to sell 20.7 per cent of Teledata (Singapore) for $3.5 million as part of its business rationalisation plans.
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      • 64 7 Reuters CHINA Aviation Oil, which supplies almost all of China's jet fuel, is raising $300 million in a 5-year term-loan to finance its acquisition of Singapore Petroleum Co Ltd, debt news service Basis Point said. Sources said Societe Generale was the lead arranger
        Reuters  -  64 words
      • 63 7 MAINBOARD-LISTED Chip Eng Seng Corporation is launching its 100 per cent-owned, residential freehold project Shanghai One tomorrow at an average price of $810 psf. Shanghai One is located in the District 10 residential enclave of River Valley Road at No 1 Shanghai Road. Its 52
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      • 40 7 We reported in this column on Sept 14 that Mr Koh Kim Huat was the former chief executive officer of Rowsley Ltd. This is incorrect. Mr Koh is still the CEO of Rowsley. We are sorry for the error.
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    • 306 9  -  Azeus Systems specialises in projects for HK government By JEAN CHUA A SOFTWARE consultancy firm specialising in projects for the Hong Kong government is eyeing a Singapore mainboard listing. Azeus Systems Holdings, which designs, builds and maintains IT systems and software as well
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    • 272 9  -  By JEAN CHUA SEGHERS Keppel Technology Group (SKG), the environmental technology unit of Keppel Integrated Engineering, has won three contracts worth $51 million to provide waste-to-energy incineration services and technologies in China. The first contract calls for SKG to provide engineering
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    • 356 9  -  By JEAN CHUA DAIRY Farm International Holdings, which operates Cold Storage supermarkets and 7-Eleven convenience stores, will pay HK$lO5 million (5522.7 million) for a retail chain owned by newspaper publisher SCMP Group. Dairy Farm will pay cash for 87 Daily Stop outlets,
      FILE PHOTO  -  356 words
  • Page 4 Advertisements
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    • 1304 4 adv Call 1800 289 8822 or email reavit@sph.comsg for your recruitment solutions rasMim I toll-free 1800 189 M22/lfaMil: aotfce»»»ph.coa>.i>g^ IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF ANTA INVESTMENTS PTE. LTD. (In Voluntary Liquidation) FINAL MEETING NOTICE is hereby given pursuant »o Section 308
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    • 132 4 In the Matter of The Companies Act, Cap.so And In the Matter of PACIFIC BOOK CENTRE (S) PTE LTD (In Members' Voluntary Liquidation) NOTICE OF PINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap. 50, the Final Meeting of the abovenamed Company will
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  • Page 5 Advertisements
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  • Page 7 Advertisements
    • 194 7 I Our backs are complex structures which are involved in virtually every move we make so it's I hardly surprising that back pain is so common. In fact, doctors see more patients for back I pain than any other ailment For years, Edinburgh's Sleep Sets have been satisfying the needs
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  • SINGAPORE MARKETS
    • 537 8  -  STOCKS Interest is firming in the second line; index's movements in line with external influences R SIVANITHY Senior Correspondent Source: Bloomberg "Hang in there" was the title of a Citigroup Smith Barney (CSB) Wednesday report on the property sector but judging by yesterday's
      Source: Bloomberg  -  537 words
    • Article, Illustration
      938 8  -  Compiled by KENNETH LIM CoscoCorp Sept 16 dose: 90.5 cents MS VKKERS RESEARCH, Sept IS BUY COSCO'S MOU to acquire a 51 per cent stake in Cosco Shipyard Group has progressed to a proposed acquisition stage. The $119 million price tag is in line with our expectations. Cosco Shipyard
      Source: Bloomberg  -  938 words
    • 509 8  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar earned itself a nice breather from a stronger-than-ex-pected manufacturing index reading for September out of New York state overnight, but Asian units' losses were very modest compared to their major currency counterparts. News that the Empire
      Source: Reuters  -  509 words
    • TRADES TO WATCH
      • 94 8 ASIATRAVEL.COM executive chairman Boh Tuang Poh saw his deemed stake grow to 7.55 per cent from 7.5 per cent yesterday after 100,000 shares were bought through a United Overseas Bank nominee account. The shares were bought at 34 cents apiece on the open market. Mr Boh
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      • 66 8 GOODPACK chairman and managing director David Lam sold 153,000 shares on the open market on Wednesday, paring his direct stake to 0.38 per cent from 0.42 per cent. He is also deemed to control another 41.36 per cent of the bulk container specialist's shares. The
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      • 98 8 ASSET manager Atlantis Investment Management's funds have been divesting their shares in hard-disk drive component maker Magnecomp International. One of its funds, Atlantis Asian Recovery Fund (AARF), is no longer a substantial shareholder after 1.4 million shares were sold at undisclosed prices. AARF now has a
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      • 106 8 EDMI executive director Chin Jin Meng bought 50,000 shares of the electrical meter specialist yesterday on the open market, the same day the company announced a new joint venture specialising in software for the automatic meter-reading industry. EDMI said the JV was part of
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      • 90 8  -  Compiled by KENNETH LIM SCHRODER Investment Management sold 19,000 shares of contract manufacturer Venture Corp on Monday on behalf of its clients, paring the fund manager's stake to 5.83 per cent from 5.84 per cent. Meanwhile, Aberdeen Asset Management, another fund manager, saw its stake
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    • Article, Illustration
      427 8 OTHER SINGAPORE INDICES Sep 16 VALUE CLOSE BT QB/OS 401.00 4-119.00 BT CADI -*****.00 +65.00 BT 10-day MA -*****.00 +40.00 All-SG Equities 520.26 -2.52 SG Equities Elect 160.74 -0.99 SG Equities Fin 1642.99 -8.24 SG Equities Prop 481.78 -3.20 SIMSCI 240.41 -1.86 SiMSCI Futures 240.70 -2.10 MOST ACTIVE STOCKS VOLUME
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  • Page 9 Advertisements
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  • SINGAPORE NEWS
    • 422 10  -  Overseas projects, like airports in India, now make up 40% of its work By VINCE CHONG ENGINEERING consultant Meinhardt (Singapore) has successfully steered away from the construction downturn in Singapore, having been among the rare few to avoid spilling red ink in the
      422 words
    • 333 10 DIABETICS who suffer the inconvenience of daily insulin injections may have more to hope for. Homegrown company stem cell research company ES Cell International (ESI) is working towards a cure for the illness within two years. Eighty per cent of
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    • 479 10  -  Move could spark price war with SingTel: analysts By RAJU CHELLAM STARHUB has launched a suite of audio, video and Web conferencing services for multinational corporations and small and medium enterprises, a move which could spark a price war with rival Singapore Telecommunications, which
      479 words
    • 380 10  -  By DANIEL BUENAS HAVING built up her fashion retail chain into an recognisable brand, 77th Street founder Elim Chew is now helping young entrepreneurs achieve the same success. Ms Chew, together with another five entrepreneurs, have come together to form a non-profit organisation
      FILE PHOTO  -  380 words
    • 208 10 THE hearing to assess damages that Raffles Town Club Ltd (RTC) must pay to the 5,000 members who had sued it was postponed at the last minute yesterday after RTC asked the judge in chambers to excuse himself on grounds of conflict. But
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    • 402 10  -  Demand drivers include influx of budget carriers By VINCE CHONG WOTIF.COM expects its revenue in Asia to exceed Australia's in five years as short-term travel gathers pace, buoyed by the advent of low-cost carriers, relaxed visa rules, and the five-day work week.
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    • SINGAPORE ROUNDUP
      • 80 10 SINGAPORE and Brunei will discuss ways to further strengthen cooperation in broadcasting at the 14th Joint Technical Committee (JTC) meeting tomorrow in Brunei. Tan Chin Nam, permanent secretary (Information, Communications and the Arts), will lead the Singapore delegation. Lee Boon Yang, Minister for Information, Communications
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      • 65 10 MALAYSIAN Minister for Natural Resources and Environment Adenan Haji Satem will arrive today for a two-day visit at the invitation of Environment and Water Resources Minister Yaacob Ibrahim. The Malaysian minister's visit is part of the traditional annual exchange of visits (AEV) between the two
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      • 40 10 SINGAPORE has appointed Philip Ng Chee Tat, 46, its ambassador to Argentina, resident in Singapore. Mr Ng is concurrently the ambassador to Chile. Mr Ng is also chief executive officer of Far East Organization (Singapore).
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  • Page 10 Advertisements
    • 27 10 Lianhe Zaobao 1 More than I I of consumers I lin China opt for I I pirated I I software I I nfflffii I I I I
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    • 390 10 cam CITY DEVELOPMENTS LIMITED LOST SHARE CERTIFICATES The following share certificates have been reported lost, mislaid or destroyed by the respective shareholders:Cftlflcaf NO NO Of ShirM In the Name of C *****94 1 x 500 Teo Lay Sim C *****95 1 x 400 Teo Lay Sim C *****96 1 x
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  • ECONOMY WATCH
    • 484 11 Economists remain divided over need for rate increase to cool economy Reuters [BEIJINGJ China's urban fixed-asset investment rose 3Q.3 per cent in the first eight months of 2004 from a year earlier, the National Bureau of Statistics confirmed yesterday, indicating a slowing trend. The bureau
      Reuters; REUTERS FILE PHOTO  -  484 words
    • 451 11 Reuters [WASHINGTON] The International Monetary Fund on Wednesday said it had no compelling evidence that booming house prices would drop as interest rates rise. In its biannual Global Financial Stability Report, the IMF said research for its September
      Reuters  -  451 words
    • 466 11 Firms may be forced to disclose intra-group deals Reuters [BRUSSELS] The European Commission will unveil plans for sweeping corporate governance reforms next month to force firms to shed light on opaque intra-group relations and make directors accountable for company reports. The proposal is the
      Reuters  -  466 words
    • 401 11 US consumer prices up 0.1 in Aug AP Bloomberg [WASHINGTON] Consumer prices rose just 0.1 per cent in August, a sign that inflation poses no immediate risk to the US economy. The over-the-month-in-crease in the Consumer Price Index (CPI), the government's most closely watched inflation gauge, came after prices dipped
      AP; Bloomberg; AP FILE PHOTO  -  401 words
  • Page 11 Advertisements

  • MALAYSIA COMPANIES
    • 359 12 (KUALA LUMPUR] Golden Hope Plantations Bhd is poised to become Malaysia's second-biggest listed plantation company in terms of acreage with its shareholders approving a reorganisation plan on Wednesday. The plan involves it buying oil palm estates from Island Peninsular Bhd (I&P), which will in
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    • 485 12 It recruits top talents boasting international expertise [KUALA LUMPUR] Khazanah Nasional Bhd, the Malaysian government's investment arm that controls a third of the national stock exchange's capitalisation, is beefing up its senior management ranks. In its first such announcements, Khazanah named Ganen Sarvanathan, ÜBS Investment
      NSTP  -  485 words
    • 492 12 [KUALA LUMPUR] Diversified tourism group Reliance Pacific Bhd could well be on way to recovery from several years of losses, judging by its financial performance in the past three quarters, The Star said citing industry observers. For its fiscal first quarter ended
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    • 2046 12 vol FTEC Resources 334 -0.01 604 r**** ForqanBus.Org. 337 unch 566 Gadang 132 unch 1060 »M Realty 148 -002 18 Gamut*. 5.40 0.10 25 1 Sfesss=z==5S 218 SS 0 42 0.02 034 *01 2^ n« *51 GHl Systems .0.36 -0.01 214 AtWWrtwvK n«i nni GlobetronicsTadi .0.47
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  • Page 12 Advertisements
    • 1076 12 aill toll-in* 1800 200 0022 taail: Mtkcs^nhxoa.M NOTICE OF FMAL MEETMG M THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND M THE MATTER OF HEEREMA MARINE CONTRACTORS FAR EAST PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE IS HEREBY GIVEN that the Final General Meeting of the abovenamed Company will
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    • 467 12 THE COMPANIES ACT, CAR 50 COMMON LAND PTE LTD (Company Registration No: I*****672E) (In Voluntary Liquidation) At an Extraordinary General Meeting of the Members of Common I .and Pte Ltd duly convened and held at 1658 Thomson Road. Singapore *****8 on 13th September 2004, the following Special Resolutions was duly
      467 words

  • INDONESIA/MALAYSIA
    • 329 13 Jakarta bourse's showing in region overshadowed only by smaller markets like Vietnam Reuters [JAKARTA] Indonesian stocks are hitting record levels and analysts see more gains if next week's presidential election goes peacefully and the front-runner turns out to be as market-friendly as
      Reuters; REUTERS  -  329 words
    • 237 13 Move is part of govt compensation package [KUALA LUMPUR] Malaysia's biggest toll road operator Plus Expressways has confirmed it will take over a failed highway project as part of a compensation package. Plus said yesterday the government has agreed to allow Plus to
      237 words
    • NOTE BOOK
      • 144 13 Reuters [HONG KONG] Hutchison Telecommunications International Ltd (HTIL), a unit of conglomerate Hutchison Whampoa Ltd, is holding talks with "friendly business partners" with the aim of the partners buying up to 50 per cent of HTIL's planned initial public offering (IPO), a Hong
        Reuters  -  144 words
      • 121 13 AP [JAKARTA] An Indonesian court yesterday sentenced the editor of the country's leading news magazine to one year in prison for libel in a case that press advocates called a setback for media freedom. Bambang Harimurti, chief editor of Tempo weekly, was found guilty
        AP  -  121 words
      • 115 13 Bloomberg [BANGKOK] PTT Pic, Thailand's biggest energy company, is studying a plan to invest as much as 40 billion baht (Ssl .65 billion) on its sixth gas separation plant to meet demand from petrochemical companies to make plastic from gas. The proposed plant
        Bloomberg  -  115 words
      • 122 13 Bloomberg [MUMBAI] India's government will cut tax incentives it provides to steel exporters, Trade Minister Kamal Nath said in New Delhi yesterday. He gave no further details, however. The move may help the Indian government to curb inflation, which accelerated for a fifth
        Bloomberg  -  122 words
  • Page 13 Advertisements
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  • GREATER CHINA/INDIA
    • 408 14 Foreign cash given access to stock, debt markets increased by 30% Reuters, Bloomberg [SHANGHAI] China's forex regulators have let another US$6OO million flow into the country's main stock and debt markets, increasing the amount admitted under a special scheme designed for foreign players. ÜBS
      Reuters,; Bloomberg  -  408 words
    • 270 14  -  S'pore travel agents' tour packages sales up By VEN SREENIVASAN WITH slightly more than a week to go before the inaugural Shanghai Formula One (Fl) race, the city's leading hotels are on a roll nearly all their rooms have apparently been booked. And whatever that's
      AFP  -  270 words
    • 451 14 Reuters [SINGAPORE] India needs to adopt budget rules that have proved successful in other countries if it is to put its public finances on a sustainable footing, the International Monetary Fund says. The Fund says India must learn lessons from countries
      Reuters  -  451 words
    • 275 14 Reuters. Bloomberg [HONG KONG] HSBC has sold shares in Hong Kong developer Hang Lung Properties worth HK$2.2 billion (Ss4B4 million), in a deal that was warmly received by investors. "HSBC has sold shares in Hang Lung that it bought in 1996.
      Reuters.; Bloomberg  -  275 words
  • Page 14 Advertisements
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  • Page 15 Advertisements
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  • ASIA-PACIFIC/WORLD
    • 441 16 It was part of a global cartel that illegally set prices for three years NYT [WASHINGTON] Federal prosecutors announced on Wednesday that they had cracked a global cartel that had illegally fixed prices of memory chips in personal computers and servers for three
      NYT  -  441 words
    • 381 16 Bloomberg [NEW YORK] JPMorgan Chase Co ended a US$5 billion contract with IBM Corp as President Jamie Dimon seeks to retake control of the second-biggest US bank's technology systems and cut costs. The bank will hire 4,000 data centre and helpdesk workers who went to
      Bloomberg  -  381 words
    • 489 16  -  He is also accused of trying to regain the chairmanship By CHRISTOPHER REED in Los Angeles WALT Disney chief executive Michael Eisner's surprise recent decision to quit in two years' time has rebounded on him, as his old adversary Roy Disney has relaunched his
      PHOTOS: BLOOMBERG, REUTERS  -  489 words
    • 479 16 [LOS ANGELES] News Corp chairman and chief executive Rupert Murdoch's pay rose 42 per cent to US$l7 million as television shows such as American Idol and larger audiences for the Fox cable network lifted profit for fiscal 2004. Mr Murdoch, 73, received
      479 words
    • 327 16 AP [NEW YORK] Even at a wrenching moment of surrender, Martha Stewart was as always under impeccable control. Her announcement on Wednesday that she would report to prison as soon as possible came in a lightbathed studio, before a brilliant backdrop of colour swatches, perfectly
      AP  -  327 words
    • 419 16 Reuters [TOKYO] Latest inspections of major banks by Japan's Financial Services Agency (FSA) showed 5.5 per cent more problem loans than disclosed in the banks' own assessments. The regulator said yesterday that it had found 36.5 trillion yen (*****.2 billion) in
      Reuters  -  419 words

  • AVIATION
    • 347 17 Reuters [NEW YORKI Aircraft manufacturer and defence contractor Boeing said on Wednesday that it expects world air cargo to grow at an average annual rate of 6.2 per cent during the next two decades, with overall traffic tripling from current levels.
      Reuters  -  347 words
    • LOG BOOK
      • 99 17 Bloomberg [TOULOUSE] Air France chief executive Jean-Cyril Spinetta said cost savings from its purchase of KLM Royal Dutch Airlines will be about 100 million euros (*****.19 million) this fiscal year, or 30 per cent more than forecast. "We will certainly pass" the forecast
        Bloomberg  -  99 words
      • 150 17 Reuters [HONG KONG] Hong Kong's dominant airlines, Cathay Pacific Airways, will hold presentation for a $200 million, five-year bonds in Singapore on Monday, debt market news service Basis Point said. It quoted sources as saying yesterday that DBS Bank would join Standard Chartered Bank
        Reuters  -  150 words
      • 105 17 AP [WASHINGTON! Some passengers on US commercial flights as of Sept 20 will be subject to new, more rigorous body searches targeting explosives hidden under clothing, a government source said. The new measures come on the heels of the Aug 24 attacks in Russia, which
        AP  -  105 words
      • 88 17 AP [JAKARTA] An airport on Indonesia's Flores island has been temporarily closed after a volcano erupted and spewed ash and dust thousands of metres into the air, officials said yesterday. Petrus Alube, chief of Wayoti airport in Maumere, said dust has covered the runway for
        AP  -  88 words
    • 1891 17 CITY FLIGHT ETA FLIGHT ETD Copenhagen SQ351 0530 SK972 2155 SK973 1900 Adelaide BA7381 1840 LH9770 2300 —r- »A7381 1840 QF81 1840 SQ229 2300 Darwin 0F81 1840 *lllM<lll>jj SQ461 1400 SQ462 0200 Delhi SQ407 0710 IC856 1145 Amsterdam SQ323 0615 KL838 2255 IC855 1025 AI481 1355
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    • 579 17 Last-miunute agreement will save troubled airline 150m euros Bloomberg [MILAN] Alitalia, Italy's largest airline, said it reached an agreement with ground employee unions to cut 2,500 jobs and freeze pay in a compromise intended to rescue the company that has just
      Bloomberg; REUTERS  -  579 words
    • 226 17 Bloomberg [NEW DELHII Indian Airlines, the nation's biggest carrier by fleet size, will lease nine twin-aisle aircraft next year to expand its services to cities in Southeast Asia and the Middle East. Indian Airlines will lease wide-bodied planes that can seat at
      Bloomberg  -  226 words
    • 258 17 Bloomberg (BRUSSELS] Virgin Express Holdings, a low-cost airline owned by UK billionaire Richard Branson, said its negotiators have completed an agreement with the main shareholder of SN Brussels Airlines to combine the two carriers under one company. Under the agreement, the
      Bloomberg  -  258 words
    • 180 17 Bloomberg [CAPE TOWN] South Africa, India and Brazil are considering starting a joint programme to produce medium-sized passenger aircraft. South African President Thabo Mbeki said. "Since we need aircraft that are bigger than a 10-seater and smaller than a 300-seater, why don't these
      Bloomberg  -  180 words
    • 342 17 Xinhua [MOSCOW] One of the two suicide bombers suspected of downing two Russian airliners last month got on board after bribing an airline employee, Russia's chief prosecutor was quoted by local media as saying yesterday. Two Russian passenger jets, Tu-134 and Tu-154, crashed
      Xinhua  -  342 words

  • SHIPPING
    • 48 18 [SAN FERNANDO, Spain] A worker from the government-controlled shipbuilder Izar rolls a tire into a burning barricade during a protest in San Fernando, southern Spain. Dock workers resumed protests on Wednesday over a lack of employment and against plans to part-privatise the Izar shipyards. REUTERS
      REUTERS  -  48 words
    • 347 18  -  By GEORGE JOSEPH [SINGAPORE] A container ship struck a Singapore navy vessel before colliding with an oncoming oil tanker just after Wednesday midnight in Singapore waters off the Horsbugh Lighthouse. The incident is the second involving a container ship and a
      347 words
    • 283 18 SGX '000 S$ W- Vol CM Offshore .0.40 0.02 S554 Chum Hup .0.62 0:04 ***** Cosco Investment .0.91 0.04 ***** CWT Distribution 0.49 unch 0 EzraHldgi IjW unch 206 Freight Links 0.10 unch 763 Grand Banks Yacht Ml 0.01 18 jaya Holding .0.94 0.02 7037 Kl Venture .0.28
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    • 537 18  -  Joint effort seen necessary to market S'pore as a maritime centre By GEORGE JOSEPH [SINGAPORE] A common platform has to be found for the various trade associations within the shipping industry in Singapore to come together and be the catalysts for business
      537 words
    • 739 18  -  ADMIRALTY CASEBOOK By SELVA KUMAR A 'general paramount clause* in a bill of lading is not some vague contractual provision that suggests that an international convention might apply in some circumstances. Instead, such a clause establishes a hierarchical scheme on which a
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  • Page 18 Advertisements
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 7970 19 ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Afeortfcar Vest*) Voyafe Telephone SIN Desfn Kane Name Ih—hir Number SIN Datfn Name Nam* Number Ihnbor 25/09 01/10 Megastar LILIUM 12NR *****226 To ABIDJAN (ABJ) 2003 Cote D'lvoire 27/09 04/10 COSCO anemi iin *****900 24/09 18/10
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  • EDITORIAL & OPINION
    • 506 20 EDITORIAL THREE years after the Sept 11 attacks on New York and Washington, much of official Washington has been analysing the failures of America's counter-terrorist system before the event and reviewing proposals for reforming that system. The main assumption among US officials
      506 words
    • 777 20  -  THE BOTTOM LINE FRANK CHING LAST month, when Japanese and Chinese teams faced each other in the Asian Cup soccer final in Beijing, Chinese fans booed so loudly that they drowned out the strains of the Japanese national anthem.
      777 words
    • 941 20  -  Rogue trader Yasuo Hamanaka's shenanigans will be in the limelight once more next month NEIL BEHRMANN London Correspondent INSIGHTS into rogue trading and market manipulation will again come to the fore in a US$ 1.1 billion London High Court case that opens at the beginning of
      REUTERS  -  941 words
    • 644 21  -  LETTERS TO THE EDITOR Alan Lim Singapore I REFER to "Views From The Top" (BT, Sept 13) which focused on whether Singapore should open up to the casino gaming industry. An overwhelming majority of your BT CEO's eClub support the presence of a
      AP  -  644 words
    • 679 21  -  Penelope Phoon Head of ACCA Singapore I REFER to Joyce Koh's Hock Lock Siew article, "Do cross-over auditors make good CFOs?" (BT, Sept 14). Ms Koh says that companies are increasingly appointing chief financial officers with little experience in managing a big company. Experience
      679 words
    • 957 21  -  Despite the IMF's claims otherwise, the wordsmith's words written in the 19th century may prove to be right ANDY MUKHERJEE FROM anti-globaUsation activists to libertarian economists, the International Monetary Fund has many adversaries. The 19th-century poet John Keats isn't among them. And yet, Proving
      REUTERS  -  957 words

  • Page 21 Advertisements
    • 104 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to httettifripti foil ifl nrwritr try Thf fhninrn Tknri. SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your Ml name, address and telephone number for verification. Please use temperate language, and bear hi mind
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  • 9276 22 STRAITS TIMES INDEX STOCKS m a— o—» SUA—— m am aw— Allgreen 50c 0.32 1.120 -0.010 NOL 2.01 2.790 -0.010 BIL Irrtl US20c 0.47 0.995 OCBC 10.71 14.000 -0.200 CapitaLand 1.19 1.770 -0.010 Partway H 25c 0.64 1.360 40.010 Chart SemiCond 26c 0.83 1.080 *0.010 People's Food HK50c
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  • 5767 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES IbImImt to IMS ay r %r *r Sap 15 Wortd Prefer—ry 7953 -05 2.1 -08 04 -09 0.9 t LAft PMrawry B0.0 -03 4.1 -13 OJ 13 13 Qwrtwhw mi -at u -u -oj -u <u Jirtc CM -08 74 14 13 13
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  • Page 24 Advertisements
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  • Page 27 Advertisements
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    • 500 27 I MtfMlFiiffi'Ml ■HBHraasE^^jTSMMo/S^Tw KGB WAVE 218N 21-22/09 28 30/09 0546/10 I ■MU|Ufl TIGER ftAtt 219K 25 26/09 01-03/10 09-10/10 I ■UneroaSKY 720* 28-29/09 05-07/10 12-13/10 1 "'J 02-03/10 00-10/10 14-17/101 ***** 05-06/10 12-14/10 19-20/10 BMMlliliMfiGaSqgT 092__ ltlS/10 2125/10 I 157 BJWIWxWESSLHOTSE 601 20-21/09 25-27/09 04-05/10 1 MliillHT>6B'ro Wßl 017 22-23/09
      500 words

  • ARTS/MUSIC
    • 525 28  -  ALBUMS By KANNAN CHANDRAN THE dark glasses and the big smile were significant signatures of the man's physical and emotional make-up. Ray Charles may not have seen through most of his life, but he saw how his music and his indefatigable personality could light up
      525 words
    • 528 28  -  MUSICALS CAROLYN QUEK looks at what's in store for viewers of Mamma Mia! CAROLYN QUEK FWm ORGET about Saturday Night Fever and get ready for another m kind of fever Abba fever, that is when Mamma Mia! hits our shores next week. And if statistics
      528 words
    • 626 28  -  EXHIBITION By CHEAH UI-HOON THE issues of history and identity continue to frame and provide the basis of artist Salleh Japar's art—as seen in his second solo show after a 10-year hiatus. But this time around, he experiments with video projection
      ZAOBAO  -  626 words
    • 333 28  -  THEATRE By SANGEETHA MADHAVAN BRITISH playwright Willy Russell's hit play Shirley Valentine opens with a bored, frumpy and 40-something housewife and mother cooking chips n' egg for her husband. Swilling a glass of Riesling and addressing the wall, she talks about her unfulfilling
      333 words
    • 268 28  -  By CHEAH UI-HOON CONTENT on being a "cultural showcase" of language and customs rather than focusing on issues from the Peranakan viewpoint, Peranakan plays like Buang Keroh Pungot Jerneh continue to be productions where you can sit back and relax as you're walked down memory lane by
      268 words
  • Page 28 Advertisements
    • 99 28 IVI V Annua|^a,e J*| JJ From 18th Sept Sat I I mm m 25th Sept Sat H L I More than 100 wines on offer |H SB Covers 11 major wine producing O H H H Up to 20% discount I Additional discount on case I H purchases, more promotions
      99 words
  • Page 28 Miscellaneous
    • 280 28 CRYPTIC CROSSWORD 12 The height of irritation, say |^JBB IIIIIIII _pH -ii JBB_JB_ i J (4) Pi m n^M 13 Come out with me again and have a I H 9 14 French priest sought in Lourdes (4) 17 Shine in languages (6,6) Hi |H|| toe, cried with mous person
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  • PURSUITS
    • 1088 29  -  POWERBOAT RACING VINCENT WEE looks at how different the 2004 F1 Powerboat Singapore Grand Prix promises to be from last year's dismal start VINCENT WEE JUST as the Ascott races in Britain show the cream of the social elite flaunting fancy hats and pedigree while
      FILE PHOTO  -  1,088 words
  • Page 29 Advertisements
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  • PEOPLE
    • 774 30  -  WATCH COLLECTOR CHEAH UI-HOON finds out how Anthony Lim got into the watch business and his plans for Cortina CHEAH UI-HOON IN Anthony Lim Keen Ban's office, is an assortment of family pictures crowding the shelves behind him. Facing his desk is a
      ARTHUR LEE  -  774 words
    • 367 30  -  By CHUANG PECK MING MEN are falling for a woman's best friend diamonds. At least when it comes to watches. So Cortina Watch is adding, for the first time, jewellery timepieces for guys at its annual Jewellery Time show this year. The exhibition opens
      ARTHUR LEE  -  367 words
    • 854 30  -  WRITER By CHEAH UI-HOON A BOOK for the season, that's what British author Lynne Truss thinks is her surprise bestselling book on punctuation, fate. Shoots Leaves. "I think 20 years ago, in the UK, it would have been seen as a class issue. People would have said
      854 words

  • COVER
    • 1556 31  -  GEOFFREY EU checks out the Architecture Biennale in Venice where S'pore made its debut GEOFFREY EU OVE it or hate it, The EsLplanade provoked plenty of healthy debate on the state of architecture in Singapore when it was built two years ago and if there's one thing worse
      1,556 words
  • Page 31 Advertisements
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    • 113 31 f/^j Singapore Herttage Street Food "A Taste of Beach Road in the 60 s" Relish nostalgic heritage street food of the 60 s now at Cafe Plaza every Saturday. So be tempted by legendary flavours like Oyster Omelette, Chilli Mud Crab, Bak Kut Teh, Hae Mee, Filed Yellow Mussels and
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    • 77 31 KzJ Captain's TahCe offers an unfimitetCa La Ea carte buffet that witTsurety tempt your tastefads! Teast on over 40 (fishes of signature Shanghai deCicacies. J&. RAFFLES MARINA 10 Tuu Weu Drive *****04 TW: 6561 MOO Fm 6561 1020 «hoy<r»fll«—Mim.com. »g Web S«e w* jtmtmmM.com. ttj [Ihilifei beer sundays ■entfleH fltv
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    • 135 31 adv "I MERITUS MANDARIN SINGAPORE I HIGH TEA AT NEW HEIGHTS Enjoy international favourites high-tea buffet. Adult: $36+++ lop Child: $16+++ o/jfle Reservations: 6831 6258/88 Revolving MERITUS MANDARIN 333 Orchard Road, Singapore *****7. Tel: +65 6737 4411. Fax: +65 6732 2361. For more BKflffj|l|fr, I please call Cafe Brio's Western
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  • executive lifestyle
    • 438 32  -  off the cuff jaime ee WELL done, my budget carrier comrades! Keep up this pseudo price war for a little while more and we will soon build up the world's largest army of civilian guerillas! I can't believe how clever we have been at recruiting
      438 words
  • Page 32 Advertisements
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    • 48 32 THINKING DESIGN Can The Durian beat Disney? How does the Esplanade (left) compare to Frank Gehry's celebrated concert hall in Los Angeles? Find out if Singapore made its mark on world architecture at the ongoing La Biennale in Venice its first venture into this über international showcase. PG3I
      48 words
    • 41 32 B Every second still counts for Cortina's boss. PG 30 ■JiJL WHAT'S INSIDE MUSIC Mamma Mia! It's pure fun and laughs. PG 28 PURSUITS Powerboat racing: More glamour hits the bay. PG 29 PEOPLE Lynne Truss: The punctuation advocate. PG 30
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