The Business Times, 22 September 2004

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Total Pages: 32
1 32 The Business Times
  • 15 1 THE BUSINESS TIMES SINGXPLWie W ggnte online at http://business-times.asial.com.sg MITA (P) 023/03/2004 Wednesday, September 22,2004
    15 words
  • 133 1 □sn 2.001 .87 (+13.76) ST INDEX RITUn 2.000.00 (+8.00) SIMSQ 240.66 (+1.49) SIMSa FUTURES 240.80 (+1.20) MARKETS Tuesday Change KISECOMP 865.13 -021 NIKKEI 225 11.060.87 -1.62 HANG SENG 13,304.48 +83.15 SET INDEX 660.92 -737 JAKARTA COMP 823.85 +9.23 MANILA COMP 1.720.68 +18.47 SEOUL COMP 857.15 +0.28 SHENZHEN B
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  • 45 1 TOP STORIES ...PG2-3 COMPANIES ...PG 4-9 SINGAPORE .....PGIO ECONOMY PG 11 M'SIA PG 12-13 CHINA PG 14 INDIA PG IS ASIA-PACIFIC.. PG 16 WORLD PG 17 AVIATION PG 18 EDITORIAL PG 20 LETTERS PG 21 STOCKS PG 22-23 SHIPPING ....PG 24-28 MOTORING PG 29
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  • 860 1  -  Asia Pacific Breweries Singapore says it will vigorously defend its position in court By SIOW LI SEN [SINGAPORE] The four banks that lost $117 million in Singapore's biggest corporate fraud have begun action against Asia Pacific Breweries. And a landmark
    860 words
  • 416 1  -  Recruitment firm attributes it to corporate culture By CHEN HUIFEN [SINGAPORE] Glass ceiling victims in Singapore are more likely to job hop than those elsewhere, according to international recruitment firm Robert Walters. In an online poll of 5,000 people, 83
    Source: Robert Walters  -  416 words
  • Page 1 Advertisements
    • 127 1 t' EXECUTIVE MONEY Buy-and-hold works well for boutique fund firm Chartered Bfl|| Asset Management PG32 OBITUARY Mil-Com chief executive Diana Young dies in China PG2 MOTORING Kia franchise is holding W its own, says chief CheahKimlteck pgm p set you'll a choice of chicken cuny chicken or tuna mushroom croissant
      127 words

  • TOP STORIES
    • 643 2  -  Markets seem to be warming to his approach By SHOEB KAGDA in Jakarta INDONESIA'S presidential front-runner Susilo Bambang Yudhoyono is expected to adopt a Cabinet structure that can best tackle the two biggest challenges facing the country: security, and reviving the economy. Sources
      REUTERS  -  643 words
    • 854 2 Telecoms firms fall out of investors'favour IT'S getting increasingly challenging for telecommunications companies to win investors' favour, according to a Merrill Lynch survey of Pacific ex-Japan fund managers. And the lukewarm sentiment is reflected in the size and pricing of the initial public offering of Singapore's Star Hub
      854 words
    • 924 2  -  Friends pay tribute, saying her dynamic spirit will be missed By VEN SREENIVASAN [SINGAPORE] One of Singapore's brightest entrepreneurial stars has been extinguished. That is how friends and business associates of Diana Young described her death following a car accident in China yesterday.
      924 words
    • 36 2 IN the article, "Going by the numbers", in yesterday's Investors' Guide, we described Midas Holdings as an extruder of aluminium and PVC pipes. Midas extrudes polyethylene, not PVC, pipes. We are sorry for the error.
      36 words
    • 435 3  -  But online e-ticket specialist's price is as low as $382 By VEN SREENIVASAN (SINGAPORE] Return flights between Singapore and Perth will be offered at $400-$450 by Singapore budget carrier Valuair when it starts services to the West Australian city in early December. Valuair,
      FILE PHOTO  -  435 words
    • 502 3  -  Assurance could calm market fears over oil supply By RONNIE LIM [SINGAPORE] Oil giant Saudi Arabia could easily boost output from about 9 million barrels a day to 10 million in a crisis. And in the longer term, it could push daily
      502 words
  • Page 2 Advertisements
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  • Page 3 Advertisements
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  • COMPANY NEWS
    • 720 4  -  Size and pricing of Hutchison, StarHub IPOs reflect lack of enthusiasm By WONG WEI KONG ASIAN telecommunications companies may be launching mega stock sales, but investors may not be lapping it all up. While things may not be as bad as in
      AFP; REUTERS FILE PHOTO  -  720 words
    • 171 4 Reuters [WASHINGTON] Texas billionaire Richard Rainwater has raised his stake in telecommunications firm Global Crossing to 8.1 per cent, according to a filing with federal regulators yesterday. The report came hours after Global Crossing said it was expecting to reissue its financial reports for
      Reuters  -  171 words
    • 931 4 The firm will find it hard to convince investors it can earn a return on its cable-TV network Bloomberg STARHUB Ltd, preparing for Singapore's biggest share sale in more than a year, may struggle to convince investors it can earn a return from
      Bloomberg; FILE PHOTO  -  931 words
    • 653 5  -  HOCK LOCK SIEW R SIVANITHY Senior Correspondent THANKS to a recent takeover involving shipping group Neptune Orient Lines (NOL), an otherwise listless local stock market has something juicy to chew on. Counters in the transport and banking industries have since been chased up in
      653 words
    • 392 5  -  By KENNETH LIM SHARES of ComfortDelGro Corp pulled back yesterday as rival subway operator SMRT Corp dashed market hopes of a deal between the two, saying it was not interested in taking over the loss-making North East Line. ComfortDelGro shares slid 1.5 per cent or two cents
      Source: Bloomberg  -  392 words
    • 307 5 Bloomberg [SINGAPORE] ComfortDelgro Corp Ltd, the world's second-largest land transport company by fleet size, will expand in China's developing and inland cities as it strives to build sales from outside its Singapore base to half. ComfortDelgro says it is already the single largest foreign land
      Bloomberg; REUTERS  -  307 words
    • 415 6  -  Move follows DBS's warrant issue last Friday after merger deal was unveiled By JOYCE KOH AS the market's interest in shares of Singapore Press Holdings spilled over to SPH covered warrants, Deutsche Bank yesterday launched a proposed issue of a further
      415 words
    • 287 6  -  By VEN SREENIVASAN SINGAPORE Aircraft Leasing Enterprise (SALE) has launched a US$lOO million multi-currency mediumterm note (MTN) programme, with an initial one-year SsBo million fixed rate note. The Singapore dollar issue, to finance SALE'S general funding and working capital purposes, was completed yesterday and
      FILE PHOTO  -  287 words
    • COMPANY BRIEFS
      • 97 6 Bernama INDEPENDENT equity research provider Standard Poor's Asian Equity Research (S&P) has initiated coverage on Fraser Neave Holdings Bhd with a 4-stars accumulate recommendation and a 12-month target price of RM4.90. S&P said it expected the group to grow its earnings at a
        Bernama  -  97 words
      • 102 6 Reuters GLOBAL Crossing Ltd, which is controlled by Singapore Technologies Telemedia, said on Monday it expects to be able to return to compliance with US stock regulators' reporting requirements by Oct 8, but it also asked for an extension
        Reuters  -  102 words
      • 86 6 COLORLAND Animation said its subsidiary, Colorland Animation Productions, together with its joint venture partner Tundra Productions Inc has entered into an agreement with Paramount Home Entertainment International for the exclusive marketing and distribution of their feature length CGI animated film entitled
        86 words
      • 72 6 POPULAR Holdings said Beijing Tsinghua Timefound Cisco System Technology Co Ltd, a subsidiary of Popular e-Learning Holdings Pte Ltd, has entered into a co-operative joint-venture agreement with Co Ltd. Beijing Ednoland will be 70 per cent owned by Beijing Tsinghua with a registered
        72 words
      • 114 6 SINGAPORE Technologies Engineering said its electronics arm, Singapore Technologies Electronics Ltd, has increased its investment in associated company InfoWave Pte Ltd. through wholly-owned subsidiary CET Technologies Pte Ltd. This is in response to a capital call by InfoWave of SI million on
        114 words
      • 102 6 FALMAC Ltd said its shareholders have approved a capital reduction exercise in a extraordinary general meeting held on Sept 8. Upon the reduction in capital, an amount equal to $13.3 million, being part of the credit arising from the exercise, will j
        102 words
      • 77 6 ASIAPHARM Group said one of its key j| products drugs has been listed as one of t the approved drugs under the "National Health Insurance List" announced by China's Labour and Social Security Department. It also said it recently
        77 words
    • 298 9  -  Unit of utilities arm secures regional HQ status, will support sister companies By JEAN CHUA A NEW subsidiary of SembCorp Utilities has received China Regional Headquarters status from the Chinese Ministry of Commerce, and will be the service and consultancy arm of the company in China.
      298 words
    • 376 9 Bloomberg [JAKAßTA] PT Bank Danamon Indonesia, the country's fifth largest lender, expects to achieve its 2004 profit target as an expanding economy spurs lending, president director Francis Andrew Rozario said yesterday. The Jakarta-based lender, 62 per cent controlled by Temasek Holdings, the
      Bloomberg; BLOOMBERG  -  376 words
    • 423 9  -  Lease dispute doesn't affect RSH as licensee is not related to group By JEAN CHUA A FORMKR Hong Kong licensee of fashion distributor RSH has been taken to court by its landlord for allegedly not paying damages for terminating a lease contract and related
      423 words
  • Page 4 Advertisements
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      79 words


  • Page 6 Advertisements
    • 328 6 1 > i' <' X -4 jfSBS£ f R Global Business I I Process Outsourcing 2004 I VjV INSIGHTS INTO INDIA I September 29 30 2004, Qrand Hyatt Singapore 1 Your Most Important BPO Decision I Make informed BPO decisions based on the latest and most I dependable information. Find
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  • SINGAPORE MARKETS
    • 886 8  -  CURRENCIES Expectations for Asian units seem increasingly skewed in favour of strength LARRY WEE Senior Correspondent FRUSTATED by the US dollar's failure to break out of either the tops or bottoms of its increasingly well-defined trading ranges over the past month, currency traders now
      886 words
    • Article, Illustration
      375 8  -  Compiled by KENNETH LIM '#*■> ■■iln Taifc ■rl«'»l»nntrr i|Hpßy*ifCß tiearonics ?1 OUR visit to two ofSpeed^To^ at ftwliity that curbed Q204 earnings, Q304 earnings are on track to meet our estimate of $5.5 million. cehUn^o4, I ck)sing towards Its optimal rate of 85 per cent New customers are
      Source: Bloomberg  -  375 words
    • Article, Illustration
      429 8 OTHER SINGAPORE INDICES Sep 21 VALUE CLOSE BT OB/OS 279.00 -98.00 BTCAPI -*****.00 +58.00 BT 10-day MA -*****.00 +28.00 AU-SG Equities 521.22 +3.86 SG Equities Elect 159.56 +0.31 SG Equities Fin 1618.34 -1.97 SG Equities Prop 486.82 +7.32 SIMSCI 240.66 +1.49 SiMSCI Futures 240.80 +1.20 MOST ACTIVE STOCKS VOLUME SPH
      429 words
    • 385 8  -  STOCKS R SIVANITHY Senior Correspondent The release of "buy" recommendations from foreign brokers J P Morgan and Citigroup Smith Barney yesterday coincided with a rise in the Hong Kong market and a firm opening for Europe to push the Straits Times Index (STI) up
      385 words
    • TRADES TO WATCH
      • 58 8 PROGEN Holdings chairman and managing director Lee Ee, also known as Lee Eng, bought 500,000 shares at 17 cents apiece on Monday, raising his direct and deemed shareholding to 28.06 per cent from 27.88 per cent Shares of Progen, which installs and supplies air-conditioning and
        58 words
      • 68 8 MEMTECH International executive chairman Chuang Wen Fu bought 500,000 shares of the precision moulding manufacturer yesterday at 49.5 cents apiece, raising his direct and deemed holding to 42.23 per cent from 42.16 per cent. Since the company listed in July, Mr Chuang has bought
        68 words
      • 79 8 NEPTUNE Orient Lines (NOL) independent director Lock Sai Hung became the first board member of the shipping company to declare that he has accepted Temasek Holdings' $2.80-apiece general offer since the offer by Singapore's investment agency was extended to Sept 29. The director's entire holdings
        79 words
      • 110 8  -  Compiled by KENNETH LIM FUND manager Chartered Asset Management, through deemed accounts, saw its stake in Popular Holdings increase to 5.91 per cent from 5.5 per cent on Sept 15 after 1.9 qjUlion shares were bought on the open market. Of those shares,
        110 words
    • 340 8  -  CHART POINT By LIM SAY BOON, K AJITH OCBC Investment Research AFTER an excellent performance of late, the market is likely to pause for breath. Although the Straits Times Index (STI) managed to recapture the 2,000-point level yesterday after a retreat,
      Source: Bloomberg  -  340 words

  • Page 9 Advertisements
    • 352 9 r i V fcpt trzi r 4-/ f j |lk| J China Shanghai *Xujiahui CROSS REGION PLAZA Shanghai's CBD Most Sough! After Grade A Officfe Building Cross Region Plaza-Singapore Exhibition landing soon. Await respectively your vwt. 1 70% sold since March 2004, Final release oUtigh Floor Units. J: VJ; Wh"
      352 words

  • SINGAPORE NEWS
    • 478 10  -  YESTERDAY IN PARLIAMENT Laws changed for quick response to fast-changing market demands By CHUANG PECK MING EMPLOYMENT laws are being eased to let companies make use of flexible work plans to respond quickly to changing market demands and ride out volatile business cycles.
      478 words
    • 525 10  -  S'pore Quality Class certification to be simplified for SMEs By DANIEL BUENAS ORNAMENTAL fish breeder Qian Hu Corporation has become the first SME to receive the prestigious Singapore Quality Award (SQA), and other SMEs may soon find it easier to
      FILE PHOTO  -  525 words
    • IN BRIEF
      • 108 10 THE Monetary Authority of Singapore will set up a financial industry-wide, integrated dispute resolution mechanism for all financial products and service providers, according to MAS vice-chairman Tharman Shanmugaratnam. He said MAS has made good progress in putting in place a transparent system of regulation for
        108 words
      • 117 10 GBEATEB market play will be given in hire-purchase transactions with the passing of the Hire-Purchase (Amendment) Bill yesterday. Using the "Rule of 78" formula to calculate the loan balance when the loan is redeemed before maturity is no longer mandatory. "The market
        117 words
    • 339 10  -  By TANG WENG FAI SINGAPOBE'S voice telephony market looks set for greater competition as the Infocomm Development Authority (IDA) issues another of its consultation papers, seen by the industry as a prelude to policy changes. IDA issued yesterday a paper seeking industry feedback
      339 words
    • 247 10  -  By KALPANA RASHIWALA ONE Tree Lodge is back on the en bloc market. Its owners are understood to be asking for about $45 million, compared with a reported expected price of $65 million to $70 million when the prime, freehold, District 10
      247 words
    • 253 10  -  By CHEN HUIFEN OIL prices may have a lesser influence on Singapore's economy and the domestic electricity market today, according to industry observers. "Oil price shock adversely affects the macro economic variables such as the gross domestic product, inflation rates and unemployment rate," said
      253 words
    • SINGAPORE ROUNDUP
      • 124 10 ERNST Young yesterday named the eight finalists of its Ernst& Young Entrepreneur of the Year 2004 Awards in Singapore. In the Emerging Entrepreneur of the Year category are Victor Tan of Accord Customer Care Solutions Ltd, Serene Tan of Global Active Ltd and William Chong
        124 words
      • 55 10 THE Ministry of Finance is holding a public forum on Oct 6 to launch a Public Private Partnership (PPP) handbook. Raymond Lim, Acting Second Minister for Finance, will launch the forum. PPP is a new approach the government is adopting to increase private sector participation in
        55 words
    • 1047 10 STRAITS TIMES INDEX STOCKS Mwfc«— 1 O— g—n Mi— w <>■> AJkyren 50c 031 1.120 *OjMO NOL ZJS 2310 H.kiuus20( 046 ojoo *Oj010 ocbc ma i4.ooo -oioo CapitaLanl 1.20 1.780 *0X130 Partway H 25c Q64 1380 *00» Otvt SmCond 2Sc 081 1060 ♦00» PnopttS Food H*50c 036 1 1«0 Oty
      1,047 words

  • ECONOMY WATCH
    • 706 11 US budget deficit and current account deficit must be cut urgently: De Rato NYT [NEW YORK] The managing director of the International Monetary Fund (IMF), Rodrigo de Rato, said on Monday that the dollar would have to fall and the United States would have
      NYT; REUTERS  -  706 words
    • 346 11 Bloomberg [WASHINGTON] US Treasury Secretary John Snow called on foreign governments to do more to boost the world economy and recommended flexible exchanges rates as a route to greater prosperity. In a speech to the National Press Club in Washington, Mr Snow said
      Bloomberg  -  346 words
    • 495 11 LATEST US DATA But 5.5% slide in permits to 1.95m units disappoints AP reuters [WASHINGTON] US housing starts unexpectedly rose 0.6 per cent in August to their highest level in five months as low mortgage rates encouraged construction, but permits
      AP; reuters  -  495 words
    • 390 11 AFP [MANILA] President Gloria Arroyo warned yesterday that the Philippines risked a "painful economic death" within two years unless taxes are raised to avert a feared debt default. In a statement printed in the Philippine Star, she urged the country to "suffer the pain now
      AFP; AFP FILE PHOTO  -  390 words
  • Page 11 Advertisements
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      49 words

  • MALAYSIA COMPANIES
    • 603 12 Exercise may involve injection of South Lake project into listed vehicle [KUALA LUMPUR] Mines Golf Resort Bhd (MGRB), the developer of the RM1.37 billion (*****.87 million) Mines South Lake project, is pushing for a backdoor listing on Bursa Malaysia, according to The Star
      THE STAR  -  603 words
    • 307 12 Work on mixed-use project set to start next year [KUALA LUMPUR] UDA Holdings Bhd will undertake a RMI.9 billion (SsB46 million) mixed property development on the former Pudu Jail site in the capital, reports The Edge quoting managing director Zahari Omar on
      307 words
    • 309 12 [KUALA LUMPUR] Tobacco counters British American Tobacco (BAT) and JT International (JTI) have remained relatively resilient despite the recent increase in cigarette prices, following higher excise duty, says a report in The Malaysian Business Times. Since Sept 10. when the new duty came
      309 words
    • 227 12 Bernama [SHAH ALAM] UMW Holdings Bhd, which distributes Toyota vehicles in Malaysia, has proposed that Malaysia designate one specific location as its automotive hub. The proposal was conveyed by a seven-member UMW management team led by UMW Holdings group managing director and chief
      Bernama  -  227 words
  • Page 12 Advertisements
    • 326 12 DISTINGUISHED TECHNOPRENEURS FORUM Incorporating Forum on Silicon Valley Asia Links SPEAKERS. Dr Hong CHEN Mr Yong Ying LOO Founder Chairman Co-founder Dr rhrlcMnhor fl-IIA The Hina Croup Aromatrix Technologies Pte Ltd unribiuprier UniM Founder Chairman (Keynote speaker) GRIC Communications Inc Keith STEPHENSON Chief Executive Officer Henn TAN PricewaterhouseCooper Media Development
      326 words

  • MALAYSIA/INDONESIA
    • 359 13 Still no production at Exxon Mobil's field ahead of contract expiry Reuters Bloomberg [JAKARTA] Indonesia may take over a huge natural gas field in the Natuna offshore area from operator Exxon Mobil Corp when the contract expires next year because there has been
      Reuters; Bloomberg  -  359 words
    • 146 13 Bernama [SHAH ALAMI The Selangor State Investment Centre (SSiC) will meet Singaporean officials and investors in Kuala Lumpur on Friday to promote the Selangor Halal Hub at Pulau Indah near here. need to convince them about the benefits that they can achieve when they
      Bernama  -  146 words
    • 147 13 Reuters [JAKARTA] Indonesian oil minister and current Organisation of Petroleum Exporting Countries (Opec) president Purnomo Yusgiantoro said yesterday he expected to lose his government portfolio following the defeat of incumbent leader Megawati Sukarnoputri in a presidential election. Mr Purnomo said the next minister
      Reuters  -  147 words
    • 4 13
      4 words
    • 288 13 Bloomberg [KUALA LUMPUR] Malaysia, seeking to be a centre for Islamic financial services estimated to be worth US$25O billion, said Singapore's plan to offer similar products will not undermine its efforts and will instead boost the industry's development. "The market out there is
      Bloomberg  -  288 words
    • 248 13 [KUALA LUMPUR] The Malaysian government has decided to widen the Penang Bridge instead of building a second link from the mainland to the island, according to The Star. It quoted the Works Minister S Samy Vellu as saying that the bridge would be widened from
      FILE PHOTO  -  248 words
  • Page 13 Advertisements
    • 456 13 THE MONETARY AUTHORITY OF SINGAPORE TENOR APPROXIMATELY 5 YEARS j TOTAL AMOUNT OFFERED SCD 2,700,000,000 i II 1 MINIMUM DENOMINATION SGD 1,000 MAS' INTENDED TENDER AMOUNT SCD 200,000,000 i (NON-COMPETITIVE) j ISSUE CODE N*****0Z I ISIN CODE 5C********** ISSUE DATE/SETTLEMENT DATE 1 OCTOBER 2004 MATURITY DATE 1 OCTOBER 2009 j
      456 words

  • GREATER CHINA
    • 523 14  -  CHINA INSIGHT Jiang will be influential even without office JEAN CHUA Reporter WITH Jiang Zemin giving up the top job in China's military to Communist Party chief and President Hu Jintao, the leadership transition to a younger generation is complete. There was no
      523 words
    • 139 14 AFP [BEIJING] China Construction Bank Corp, the listing vehicle of the country's leading property lender, yesterday ruled out selling shares on overseas exchanges before the end of the year. The third largest of China's four ailing state-owned commercial banks said it was still
      AFP  -  139 words
    • 477 14 They're 3rd in corporate governance rankings behind S'pore, M'sia Bloomberg [HONGKONG] Hong Kong companies' disclosure and the independence of their directors are low, said Standard Poor's in the second report in a week criticising corporate governance in a city where more than 1,000 firms
      Bloomberg  -  477 words
    • 482 14 Local govts told to boost supply of low-cost housing in unbalanced market AP [SHANGHAI] China's construction ministry has warned local authorities to curb soaring real estate prices, as some analysts warned that the market may be headed for a correction. The ministry urged
      AP  -  482 words
    • 254 14 AFP [TAIPEI] President Chen Shui-bian of Taiwan has been fined NT5440,000 (5521,940) for failing to declare his wife's assets to a government watchdog, officials said yesterday. The Control Yuan, the highest body supervising government officials, approved the fine the first ever to be levied
      AFP  -  254 words
    • 222 14 AP [BEIJING] China's central bank won't provide more financial assistance to help reduce the bad-debt burdens of the country's state-owned commercial banks, People's Bank of China governor Zhou Xiaochuan said yesterday. Banks should rely on their own resources to cut bad loans in
      AP  -  222 words
    • 302 14 Reuters [BEIJING] The establishment of mutual funds by Chinese banks is unlikely to happen soon as regulators still need time to coordinate supervision and address potential risks, industry officials said on Monday. The central bank said last week that the Cabinet had
      Reuters  -  302 words
  • Page 14 Advertisements
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  • INDIA
    • 376 15 Reuters [NEW DELHI] India's direct tax receipts jumped 50 per cent in the current fiscal year, mainly due to strong revenues from companies which have seen demand rise in Asia's fourth-largest economy. Direct taxes totalled 272.4 billion rupees (Sslo billion) from April 1 to Sept
      Reuters  -  376 words
    • 209 15 It will provide research for global investment banks Reuters [BANGALORE] Back-office services firm Progeon Ltd, a subsidiary of India's sec-ond-largest software services exporter Infosys Technologies Ltd, has started a knowledge services business aimed at global investment banks. The segment will include equities research, credit
      Reuters  -  209 words
    • 443 15 The cash reserve ratio, hiked on Saturday, will rise further to 5% in October Bloomberg [BOMBAY] Excess cash with banks, one of the causes for the country's accelerating inflation, is declining, Reserve Bank of India governor YV Reddy said on Monday. "We
      Bloomberg  -  443 words
    • 81 15 [NEW DELHI] Canon is saying 'cheese'to the Indian market. Smiling for the cameras at the launch of new imaging digital products at a press presentation here yesterday were, from right: Canon India's president and CEO Alan Grant. Indian model and Bollywood actress Amrita Arora. and Canon
      AFP  -  81 words
    • 252 15 AP [NEW DELHI] Japanese car maker Suzuki Motor Corp's plan to invest nearly US$23O million in building new plants in India has hit a roadblock, with the Indian government its joint venture partner questioning the unilateral decision. Last Monday, Suzuki announced plans
      AP  -  252 words
  • Page 15 Advertisements
    • 190 15 Notices MEDIC-EQUIPE INTERNATIONAL PTE LTD (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE is hereby given pursuant to Section 308(2) of the Companies Act, Cap. 50 that the Final Meeting of Members of the abovenamed Company will be held at 35 Selegie Road, #04-07 Parklane Shopping Mall, Singapore *****7
      190 words
    • 1771 15 Notices THE COMPANIES ACT, (CAP. 50) ACER CAPITAL SINGAPORE PTE LTD (In Vol. Liquidation) NOTICE IS HEREBY GIVEN that the creditors of the above-named Company which is being voluntarily wound up are required on or before the 25th day of October, 2004 to send in their names and addresses with
      1,771 words

  • ASIA-PACIFIC
    • 446 16 [HONG KONG] Australia's investment bankers are in line for bumper bonuses after large property and energy deals helped the country's M&A market to become the world's third largest so far this year, according to a report in the Financial Times. The rise in
      FT Graphic  -  446 words
    • 696 16 They are paying up to US$32,000 for sleek Vertu models AFP [SINGAPORE] How much would you pay for a mobile phone that seems as heavy as a brick and cannot even take pictures? Up to U5532,000, if the phone carries the name
      AFP  -  696 words
    • 520 16 But noticeable is the building boom in Tokyo, Osaka and Nagoya AFP [TOKYO] prices in Japan have fallen to levels last seen before the "bubble economy" of the late 1980s, the government said yesterday after reporting a fall for a
      AFP  -  520 words
    • 333 16 Bloomberg [BANGKOK] Thailand's finance ministry asked creditors of Thai Petrochemical Industry pic, the nation's biggest defaulter, to approve a new turnaround plan in a bid to end a sevenyear battle for control of the chemical-maker. Bangkok Bank pic, KfW Group of Germany
      Bloomberg  -  333 words
    • 180 16 AFP [MANIIAI Philippine carriers Smart Communications and Globe Telecom lead telcos worldwide in reaping revenues from cellular data transfers, according to a report in yesterday's Business World newspaper. Q1 revenue from data transfer for Smart Communications accounted for 41 per cent of its
      AFP  -  180 words
    • 379 16 Bloomberg [BANGKOK] Thailand may spend 29 per cent more than originally estimated to build an oil pipeline in the south of the country as it wants to expand the project to tap demand for fuel from China and South Korea, Energy Minister Prommin
      Bloomberg  -  379 words

  • WORLD
    • 392 17 Their fixed income, investment banking activities offset slow stock trading Reuters [NEW YORK] Top Wall Street investment banks, Goldman Sachs Group Inc and Lehman Brothers Holding Inc yesterday reported third-quarter revenue and profit which exceeded analysts' estimates. Goldman said quarterly profit rose 30
      Reuters  -  392 words
    • 343 17 Reuters [NEW YORK] Citigroup shares yesterday suffered their biggest one-day percentage decline in 18 months after a prominent Wall Street analyst downgraded the company, citing recent ethics problems. Analysts say the reputational blows might be a function of the New Yorkbased giant's size
      Reuters  -  343 words
    • 526 17 Growth only slightly hindered by oil price increases AFP [PARIS] The OECD offered an optimistic assessment yesterday of prospects for world's leading industrialised economies, raising its projections in Japan and the eurozone. It also concluded that momentum had been only marginally hampered by a spike
      AFP; AP  -  526 words
    • 293 17 Reuters [GENEVA! Big global banks face another bout of regulatory changes as the leading global group of financial regulators launches a rewrite of its core rules for supervision, sources said. The rewrite by the Basel Committee, which follows a controversial redrafting of capital adequacy
      Reuters  -  293 words
    • 569 17 AFP [WASHINGTON] The US government yesterday began a major court battle to win US$2BO billion that it says major tobacco companies earned from the public by covering up the dangers of smoking. The tobacco industry manipulated nicotine levels to increase addiction, targeted teens
      AFP  -  569 words
    • 166 17 Reuters [PHILADELPHIA] MCI Inc, which emerged from the largest bankruptcy in history in April, is searching for a buyer, sources said on Monday. MCI, which has seen price wars and competition erode its sales to business and residential customers, declined to comment. The
      Reuters  -  166 words
  • Page 17 Advertisements
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  • AVIATION
    • 606 18  -  M'sia to decide by year-end on dedicating Subang to budget carriers By VEN SREENIVASAN [SINGAPORE] Malaysian budget carrier Air Asia may at long last get its wish to use Subang airport, near Kuala Lumpur, as its hub. That is, if the
      606 words
    • 397 18 AIRLINE CODES: AA: American Airlines (AAL), AF: Air France (AFR), AI: Air India (AK), AY: Finnair Oy (FIN), AZ: Alitalia Airlines (AZA), BA: British Airways Public Ltd Co (BAW), BG: Biman Bangladesh Airlines (BBC), BI: Royal Brunei Airlines Sdn Bhd (RBA), BO: Bouraq Airlines (BOU), BR:
      397 words
    • 584 18 The airline still lacks a clear vision to become competitive, say analysts IHT Reuters WHILE its board on Monday approved a rescue plan for Alitalia, analysts said that by focusing on job cuts, management had not resolved the carrier's principal weakness: its lack of
      IHT; Reuters  -  584 words
    • 60 18 [WASHINGTON. DC] A sign displays information about new security measures which passengers must go through at Reagan National Airport near Washington. DC. All passengers at US airports will have to take off their coats during security screening and more travellers will be subject to pat-down searches
      REUTERS  -  60 words
    • 469 18 Reuters [NEW DELHI] India says it will probably fine-tune its US$4.4 billion order for 71 planes from Airbus and Boeing to include some extra aircraft for ultra longhaul routes. Aviation Minister Praful Patel also said in an interview that the government
      Reuters  -  469 words
    • 256 18 AFP [NEW DELHI] Britain's Virgin Atlantic announced plans on Monday to fly daily from London to both New Delhi and Mumbai following an agreement between India and Britain to allow more flights from next year. Virgin Atlantic currently operates three flights a
      AFP  -  256 words

  • SHIPPING
    • 578 19  -  Republic a world leader in repair and supporting industries Reports By GEORGE JOSEPH [SINGAPORE] Singapore's $4 billion marine industry, which provides jobs for 34,000, Is very much alive and thriving, so it's time to drop the label that it's a sunset industry, an
      FILE PHOTO  -  578 words
    • 502 19 [SINGAPOREI A university degree path needs to be created for sea-going officers so that able and welltrained mariners can take up senior management jobs after a stint at sea. Swapan Das Sarma, director of the Singapore Maritime
      FILE PHOTO  -  502 words
    • 295 19 SGX '000 Sep 21 3 W- Vol CH Offshore .0.38 -0.01 1327 ChuanHup .0.61 -0.01 2404 Cosco Investment 0.93 unch 6773 CWT Distribution .0.50 unch 45 Ezra Hldgs 106 unch 286 Freight Links 0.10 unch 59 Grand Banks Yacht .0.79 -0.02 15 Jaya Holdings .0.94 0.01 2096 K1
      295 words
    • 57 19 [MANAUS, Brazil] Navy personnel andfiremen searching on the hull of the capsized passenger boatPrincesa Laura on Monday in the Rio Negro river, near Manaus. northern Brazil. Fifteen people reportedly died when the boat carrying some 100 passengers capsized in strong winds in the Rio Negro,
      AFP  -  57 words
    • 242 19 Bloomberg [LONDON] The crew of two oil tankers foiled attacks by pirates after they tried to board the vessels off Indonesia, the world's most dangerous country for piracy, the International Maritime Bureau said in its weekly report. Three armed pirates boarded a tanker
      Bloomberg  -  242 words
    • 768 19  -  STRAIT TALK By DAVID HUGHES LAST week I bemoaned the lack of an effective public relations campaign by the shipping industry. The very next day the Round Table of international shipping associations announced it had produced a dedicated website: www.shipping facts.com The Round Table comprises the Baltic
      768 words

  • EDITORIAL & OPINION
    • 502 20 EDITORIAL THE consensus view until recently was that Japan's economy had entered a period of self-sustaining recovery the best since the collapse of the bubble economy in 1991 and that growth would continue at high enough levels to end Japan's long-standing deflation soon. However, a series of
      502 words
    • 789 20  -  THE BOTTOM LINE FRANK CHING THE decision by 78-year-old former president Jiang Zemin to step down as head of the Chinese Communist Party's Central Military Commission in favour of 61-year-old Hu Jintao, his successor as party and state leader, is a milestone in
      789 words
    • 1123 20  -  The US presidential hopeful looks to have lost his momentum in the run-up to the election LEON HADAR Washington Correspondent THE American presidential campaign clock is ticking faster now. With less than six weeks until Election Day on Nov 2, John Kerry's campaign seems to have taken
      AFP; REUTERS  -  1,123 words
    • 1436 21  -  The yawning gap has defied predictions of disaster, but turns the spotlight on America's deteriorating economic status By LOUIS UCHITELLE NYT NO organisation has been more alarmed about America's constantly rising deficit in global transactions than the Institute for International Economics, a centre
      NYT; AFP  -  1,436 words
    • 812 21  -  LETTERS TO THE EDITOR Narayana Narayana Singapore VIKRAM Khanna was faster off the blocks with his article "Casino debate: go with the facts, not the movies" (BT, Sept 20) than I was in commenting on Alan Lim's letter "CEO's case for S'pore casino not
      812 words
    • 411 21  -  Leong Sze Hian Singapore I REFER to "CPF says it won't review housing withdrawal limit" (BT, Sept 20). Although property can still be pledged for up to half of the Minimum Sum of $120,000 in 2013, this may in effect be negated by the
      411 words
    • 163 21  -  Tan Kok Tim Singapore OUR expressways are getting more sophisticated by the day, with many kinds of high-tech electronic signs and message boards. But is the Land Transport Authority making best use of such signs insofar as traffic management is concerned? How many
      163 words

  • Page 21 Advertisements
    • 103 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletter@sph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel
      103 words
  • Page 21 Miscellaneous
    • 332 21 CRYPTIC CROSSWORD roncc 5 A town with more co-opera-AUtv)) tion (7) 1 Tore label in shreds, and that g Decree a quarter must be green shouldn't be allowed (11) 8 Appeared in casual wear rep- 7 Borjng bjrds! (11 rimanded for it (7,4) 8 pro biem arising does cause 11
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  • 2290 22 SGX XTRANET U-M Tel Lact Vol Day 11Q—» fifDhr Mv GrVM Nat Mb* HWi U» Code Company Sal* W- fH> HWi Low »«wr Safcr Cw wt <■> 2060 2060 6065 Diamonds US2060*d 2120 6095 IS DJ US Tech US3740cd 6097 IS MSCI Spore US555 6101 IS S&PS00 US8270cd
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  • Page 22 Advertisements
    • 68 22 jSSff iUDEMARS PIGUET 1 .m JL- Le maitre de I'horlogerie depuis 1875 m Mwr}\ -o B Mm K, r Jy# fcfl> 3 I Wjjj^ Regional Agent, Showroom Service Centre: AUOEMARS PIGUET (SINGAPORE) PRIVATE LIMITED. COftiri3W3tCh y 501 Orchard Road #03-10/11 Wheelock Place Singapore *****0. Tel: 6238 6678 Fax: 6238 6676.
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  • 2693 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES la localcarr l»l» Of yr dy tnd»« Oany Omw Pang* O«no« OifV »>pMW»r>*WW| 7971 43 2* -05 0.7 -03 U tWtPttfcwrarv 7311 43 *3-04 1J fU U Bnpe PrHmnai) 1000J 42 34 -0.6 0.3 -05 M Pacific 6345 OiO 66 0.0 29 0-2
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  • Page 24 Advertisements
    • 1964 24 I TO USA/CANADA "I I EXPORT I I OTHBt DESTINATIONS "1 |W» |¥0T |me |resmiQII6»a)MIUt|HOIgIOII|IMWg|oiCIBO|I«WTO« TO MM.ll w (wwmftlin ftWi rrr-tt) 1 PJONffIUOYDSOUTHAMPTON 45(39 21/09 72/09 08/10 M/ 10 15/10 13/10 13/10 16/10 VOY I FTA SIM I KG 1 fit I m( 1 STD MQ |AM 00QNMG00 04(40 OMfT
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    • 789 24 iMBMUMMMWia 1 WUW rMmT«WI« Wt Ml ill I Ml I g I sruißvunuK/ii is I u 20/09 23/09 n/n 01/10 01/10 SItAITS VENTURE /12 IS JJ 02/10 04/10 10/10 12/10 |SIIAITS VEWTUtE/13 15 H 14/10 WlO 21/10 31/10 02/11 Im— m Ml| VKSa/VOY MfCT I HBOHUI YOK Kg KHW H
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  • Page 25 Advertisements
    • 832 25 4iim ijiit S!!!!!!mSS pwh~ norm aimtvcci, curopv, nywii nwii m vw* 1 For Schedules, BL Searches, and Container Tracking, visit on ourHonT^oge^*nfl2^j]*^j*j2**^*rc»*^^^ www.homburgsud.ton) rfMmtUam ■wisnvia niram PwttaH^(ffltm-2W ass ir g tag irgfTTf Drtv B»lttW 04/10 11/10 EwftwwulOSW 11/10 21/10 P/10 <*/!! 01/11 11/11 tin rn I«n > Um»i|in| fid riitai'
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    • 889 25 WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS msa voy aw mum coummo hswva coummo tOUfgWHA YMM 13 SEP 15 Sg USg 21 Sg ZUB WDKA6ANOHI 0006W MSg 7?StP 25SEP 21 SEP 81 OCT UIIYGAWDHI OWM PSg 2fSg JUffl PS OCT WW lanrn flow moo
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  • Page 26 Advertisements
    • 1155 26 IAMf WALLENIUS WILHELMSEN website: http://www.2wglobol.com YTSSa I tK MAO HOW MIA SAY Ml OR> HT( WW MOO TIXAS I AMU INIm Ml 1 02/10 24/10 03/11 10/11 11/11 15/11 11/11 17/11 07/11 UMERUUK AM2O 3201 MS I 6.4 M I 16/10 09/11 11/11 2S/U 20/11 01/12 20/11 01/12 22/11 BUM
      1,155 words
    • 1390 26 JBffl Vfil m EB JBBB JStt m- ML-— sstm 0034r 23/0* iszfis JKM- Jig nm bm— JSLMm urn 14Z8S 24Z8!_ g* £41 MOAMOA 1304* Is/99 ii/ 09 UtMUUI 815 WU r<KMWQA mm aze a/w _ou3u MMT M/M w/w H^H^HftrnvnnTTiTTZHHi^^H OF 2301 0036P 21/09 «/w jay*®* homi a/w josa m a_
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    • 534 26 BSA x MYANMA HH FIVE STAR UNE (MVMMT Natioad UM) L#edh| far Yoago* vessel VOT SM m iw wu M6AN 332W SIB WA-AN 326W 26/09 IN MAUYSIA: IOUSTEAD SHIPPING AGENCIES «UL 03-*****300 Kb 03-317M101 PEN: 04-2****** Lfasamm ACCEPTIiB COiVEWTIOWAI CBO HKG SM KG SM PGV IU KUC UON HEART 121
      534 words

  • Page 27 Advertisements
    • 925 27 S'p« lAI ttiapha Amk* (S) ha M (01 NO: MSM93MMZ) I cJ-nlerasia JLines 1^4323-4444/77' vpsa' I '''w? o» 5 to! I? w «j3335 WAN HA1307 $021 07/09 07/09 08/09 09/09 10/09 14/09 18/09 19/09 ACXHIBISCUS 094* 15/09 23/09 25/09 26/09 MOIOASE 5257 13/09 13/09 14/09 15/09 14/09 20/09 24/09 24/09
      925 words
    • 248 27 E P CARRIERS 1111 •TAHGON wssa vor m m tow l BBIWW6 MMIW H/WW 13/09 MOW 17/wm fgHpN? «HHH M/OtHB 17/WOH 01/HHB fittiimr. mm HCfflß I3EBB is/iiifi NVK WnMHWBIUWKi WiillY MUD DAT SAILING SINGAPORE VIETNAM SINGAPORE to ass. ■isiifli sm »/m tt/io u/io mist mi ootm 13/10 20/10 27/11 SINOAFOU:
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    • 702 27 I /in Drt7 I lIUEC MM* TIL- 4221-IM3 MX: *221-5272 I I wn\ LlllCO CUSTOMSBVKE:TEL422I-5596FAX:4227-1190 I I IkJIA SWGAfOti:TONGJOOStffttCHIUP aMofiyilliwnc W**c www.Hzfc.ia. I aj^^sa^^piirnSwlil^^wq^^TvoTj'rasNhwca^ jpl bp\izteg tedsdiHl vesa W raawi nu 1 mT~mT vesa Wre» 1m ~m~ rasa W maT~lw~"jSi" *?L M /W W/W 30/04 01/18 MMWSII 4027 01/10 QQ/H
      702 words
    • 693 27 ■MfffPVl TIGER PEARL 219H 25-24/09 01-03/10 09-10/10 I HUiUUInGBISKY 220N 28-29/09 05-07/10 12-13/10 1 ■H« TIGER SEA 221N 03-04/10 09-11/10 17-11/10 1 TIGER WAVE 222N 05-06/10 12-14/10 19-20/10 1 PEARL ??3w 09-10/10 15-17/10 23-24/101 ■HNMHM ACHIEVER 151 02-03/10 10-12/10 20-21/10 I ■U||l|BTlGa SPIRIT 092 05-06/10 12-14/10 22-23/10 I PWWI 304
      693 words


  • MOTORING
    • 763 29  -  Profitable franchise boasts a range of seven models and nine body styles All reports by SAMUEL EE BETTER quality and styling, along with a steadily growing range of models, mean the Kia franchise is becoming a more profitable proposition for Cycle Carriage (C&C).
      ARTHUR LEE  -  763 words
    • 110 29 THE Mobil 1 synthetic engine oil publicity machine zoomed into Singapore yesterday with Formula One driverKimi Raikkonen (above) at the wheel. No indication of Mobil 1 's annual marketing budget was given but as Raikkonen is one ofFl's stars (although his McLaren Mercedes team
      TERENCE TAN CS/ST  -  110 words
    • 645 29 VOLVO East Asia's turn ov§r in 2004 is expected to surge 40 per cent to $500 million because of the economic boom in China. Construction equipment will account for half of that amount and Volvo says this year's overall increase is being facilitated by
      645 words
  • Page 29 Advertisements
    • 59 29 Where to wine, dine and entertain... 7 www.diDersxonLSK Sunday a la carta buffet 1 «wry Sunday S3S+++ per person H ♦.wpm- fO.lOpm indulge ins our lip-smacking I selections from I the a ia carte buffet menu f| B^HB I redeem attractive gifts in the Club Rewards Programme with my Diners
      59 words
    • 27 29 Ti i m I n < 4// I t VP 1 W riii: in sim ssn\n:s i:, <>' !t i 1 1 1 1 ii< f i. s./. f
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    • 101 29 "EAT ALL YOU CAN" CANTONESE A LA CARTE BUFFET Available daily for Lunch Dinner A* Perfect for savouring delectable "5 Cantonese dishes...Hai Xiang now offers an irresistible list of dishes to choose from. Hot favourites like jtf Crispy POrk Chop, Braised Shark's Fin Soup with Crabmeat, Stir-fried hai xiang "Pacific
      101 words
    • 51 29 Prime Industrial Land For Sale Alexandra Road 77 60m frontage 2 separate plots Vfc/_ H Sf 41,000 sq ft each C«ntr» cw M rr rt Vacant possession /Lis* Showroom Private treaty *43 years lease /y rnmom* tUBJBCT "wT"/ II /A* 1 'LA cbrf Tel: 6224 8181 cb richard ellis pf
      51 words
    • 76 29 n MERITUS MANDARIN SINGAPORE T jE»- Celestial BPT Mid-Autumn piwj mats K« front Meritus Wg-tiJf/i Mandarin Singapore 29 Aug 28 Sep 2004 Savour our splendid new mooncake creations of Romancing Mooncake and Black Sesame Walnut Mini Mooncake as well as our traditional signature favorites. Hotline: 6831 6069 Fax: 673 7
      76 words

  • EXECUTIVE MONEY
    • 900 30  -  Art as an asset class is becoming more popular. For investors keen to get into the act, they can buy into art-based funds or turn to private banks' advisory services, reports TAILA KRISHNAKUMAR TAILA KRISHNAKUMAR SO, you are tired of investing in stocks and bonds? Why
      BLOOMBERG/AP  -  900 words
    • 42 30 UNIT TRUSTS FUNDS LEGEND: All prices are indicative; Broadly Diversified; Narowly Focused; S Lower Risk; Low to Medium Risk: Medium to High Risk; Higher Risk; open-ended; Before subdivision of units; After subdivision of units; SP after stock split; N.A. Non Dealing Day
      42 words
    • Article, Illustration
      313 31  -  By Chua Boon Lee Standard Poor's Associate, Fund Services A weekly highlight of the lop fund sectors ower a 12-month period Data from Standard Boor's Fund Services. FANS of Chinese equities have received a harsh reminder of the rdler-coaster world of emerging market investing in the past year. After
      313 words
    • 551 31  -  Schroders' outgoing managing director David Gibson talks to GENEVIEVE CUA about the challenges facing the industry GENEVIEVE CUA SIGNIFICANTLY lower returns over the next decade means asset managers will no longer be able to rely on market gains for revenue, said David Gibson, outgoing managing director
      551 words
    • 664 31  -  The biggest mistakes individuals make are relying on stock tips and failure to research stocks, CAM fund manager Colin Lee tells GENEVIEVE CUA GENEVIEVE CUA EVEN FOR the wealthy, wealth preservation alone is not enough, says fund manager Colin Lee, who himself hails from
      Source: CAM  -  664 words
    • 961 31  -  YOU AND THE TAXMAN In-specie distribution of assets may incur GST costs according to the deemed supply rule By POK SOY YOONG, KOR BING KEONG LAST week, we discussed the stamp duty costs on the distribution of immovable properties and shares in unlisted companies. Depending
      961 words
    • 1094 32  -  GENEVIEVE CUA finds out the investment strategy of this boutique fund firm that has delivered annual compounded returns of about 17% GENEVIEVE CUA IT IS often said that buy-and-hold investing doesn't work. Certainly, the volatility of Asian market indices throughout the last decade
      CHRIS LOH  -  1,094 words
  • Page 30 Advertisements

  • Page 31 Advertisements
    • 25 31 Recruit the one you want for any position you have Call 1800 289 8822 or email recruit@sph.com.sg for your recruitment solutions i day ML J
      25 words
    • 79 31 Registered Australia Agent Mr. Peter Rozsy and his Singapore based staff are presenting a free Seminar on opportunities in Australia and Visas requirements. Venue: Carlton Hotel, 6th Fir, Victoria Room 1 Date of Seminar 25 Sep 2004 (Saturday) Time: 4.oQpm4Jopm Please book by email with tcQaustralian-miqration.com.au or by calling Allen
      79 words

  • Page 32 Advertisements
    • 57 32 9 Power unfolds most effectively through porsche precision transmission. Porsche Centre Sjngapore Eurokars Centre 12 Sungei Kadut Avenue Discover the power and precision of the SSi new 911 at our showroom. City Centre 29 Leng Kee Road Singapore *****9 Tel: (65) 6472 4433 www.porsche.com /K\ Stuttgart Auto Pte Ltd Company
      57 words
    • 5 32 Buy into art-based funds PG3O
      5 words