The Business Times, 21 October 2004

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Total Pages: 32
1 32 The Business Times
  • 14 1 THE BUSINESS TIMES SINGAPORE 85 cents online at Kttp^/buskiess-tlmesjßiil.coivug MrtA(P)O23A^2OO4 itatsth* Qatar 21, mi
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  • 725 1  -  No go for talks on Pacific route for now By VEN SREENIVASAN [SINGAPORE] Singapore Airlines plans to re-open air rights talks in the near future with the Australian government on the lucrative Australia-US route, but the chances of a breakthrough do not look good at the
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  • 132 1 sti 1,953.00 (-17.23) ST INDEX FUTURES 1.972.00 (unch) siMsa ***** (-2.15) SIMSa FUTURES 234.60 (-2.10) MARKETS Wednesday Change KiSECOMP 848.65 -3.09 NIKKEI 225 10,882.18 -182.68 HANG SENG 12,999.13 155.42 SET INDEX 652.46 -8.54 JAKARTA COMP 840.79 -12.60 MANILA COMP 1.784.93 >6.08 SEOUL COMP 828.61 -27.16 SHENZHEN! 233.24 +0.38
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  • 48 1 TOP STORIES ...PG 2,3 COMPANIES... PG 4-6 MID CAPS PG 7 MARKETS PG 8 SINGAPORE PG 10 ECONOMY PG 14 MALAYSIA. PG 15-16 CHINA/INDIA... PG 17 WORLD PG 18 AVIATION PG 19 SHIPPING PG 20 EDITORIAL PG 22 LETTERS PG 23 STOCKS PG 27-28 PROPERTY.. PG 30,31
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  • 580 1  -  Piper Rudnick working on a merger with DLA; combined firm to have 3,100 people By KENNETH LIM [SINGAPORE] In what could be one of the world's biggest mergers of law practices, US law firm Piper Rudnick is set to tie
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  • TOP STORIES
    • 560 2  -  Calyon to start oil derivatives trading, hedging for Asian customers in Nov By RONNIE LIM CtSINGAPORE] Amid the volatile oil prices, Singapore's thriving oil trading hub has attracted £&aother investment bank, Kfc&lyon, to set up an energy trading operation here. The
      560 words
    • 693 2 China plays on SGX: an intriguing mixed picture A STUDY by our senior correspondent Teh Hooi Ling of the 50-odd China-related companies here shows that, of the lot, about 53 per cent were trading below their IPO prices with an average loss of 47 per cent. Of the
      693 words
    • 460 3  -  By JOYCE KOH [SINGAPORE] One day before the charge down Shenton Way in the first charity race of its kind in Singapore, the bull is raring to go. Strapping up his running shoes and trying on his colour-clashing ensemble of a neon-green
      460 words
    • 558 3  -  He vows to boost economic growth, reduce poverty and fight terrorism By SHOEB KAGDA in Jakarta WARNING that the road ahead will be difficult and full of challenges, former general Susilo Bambang Yudhoyono said a new era had begun for Indonesia with his inauguration as
      REUTERS  -  558 words
  • Page 2 Advertisements
    • 377 2 Incorporation services in all major jurisdictions Global network of offices Ready-made companies available Management and administration services China business registration Accounting and trade support services Virtual office solutions Personal and corporate bank introductions TO ARRANGE A FREE CONSULTATION CONTACT: SknonneToh T: +65 6535 3382 F: +65 6535 3991 Esingaporeeocra.com.sg 24
      377 words
    • 319 2 PricewaterhouseCoopers human resource services presents Expatriate Taxation Issues and Opportunities in Singapore 9 November 2004, 9 am to 12.30 pm, The Swissotel Merchant Court* Fee: Ss22o (PricewaterhouseCoopers clients/alumni), Ss27o (public) As Singapore's economy surges ahead, the city state attracts an influx of global companies establishing their regional headquarters here. As
      319 words

  • Page 3 Advertisements
    • 125 3 Asia Pacific is in fashion. And an affluent population is constantly looking for the latest clothes and accessories. Whether ■T& you're looking to export the finest bales of cotton or import sewing machines, our express distribution and logistics services can connect you to where the action is. With more people
      125 words

  • COMPANY NEWS
    • 705 4  -  Market also weighed down by pessimism over semicon industry By KENNETH LIM CAUTIOUS optimism about the hard-disk drive sector failed to spark interest in electronics and technology stocks yesterday amid weaker-than-expected results from Motorola and persistent pessimism about semiconductor demand. In a
      FILE PHOTO  -  705 words
    • 632 4  -  HOCK LOCK SIEW By TEH HOOI LING NOBODY can miss the deluge of Chinese companies heading here for a public listing. Based on the list given by the Singapore Exchange (SGX), there are now in excess of 50 Chinese companies being traded on
      632 words
    • 34 4 UNIT TRUSTS FUNDS LEGEND:All prices are indicative;Broadly Diversified; Narowly Focused;$ 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
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    • 428 5  -  By JEAN CHUA ENGINEERING firm King Wan Corporation is entering the pulp and paper industry in Thailand by buying 20 per cent of a new pulp maker through a share swap with the vendor. King Wan will pay $9.84
      ZAOBAO  -  428 words
    • 314 5  -  It's because the stake remains below 5 per cent By SIOW LI SEN THE government yesterday said UK fund manager Silchester International Investors Ltd's stake in Singapore Press Holdings (SPH) stands at 4.753 per cent, which is below the 5 per cent threshold
      314 words
    • 336 5  -  Its overseas investments boost earnings quite a bit By ROLAND LIM DESPITE the increasingly competitive local telecommunications market, credit ratings firm Standard and Poor's (S&P) has maintained its A+ rating of Sing Tel. Sing Tel has been rated A+ by S&P since May 2003.
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    • 439 5  -  It beats forecasts, but net profit margins continue to shrink in Q3 By KENNETH LIM MOBILEONE beat analysts' earning estimates for the third quarter, but saw net profit margins and growth shrink to the smallest this year amid climbing costs related to a new
      439 words
    • 302 5 MAINBOARD-LISTED transport technology firm Stratech Systems says it has filed a motion in the United States to dismiss a claim by a former director against the company. Stratech said it filed the motion on Tuesday to dismiss the suit which was brought against
      302 words
    • 436 6  -  Golf retailer unit wins Asia-wide sole distributorship for Callaway products By VEN SREENIVASAN LISTED Tuan Sing Holdings is satisfied with the performance of Pan-West Pte Ltd, and expects the golf products retailer to meet its profit targets. Tuan Sing's controlling shareholder Michelle Liem
      FILE PHOTO  -  436 words
    • 303 6  -  By JOYCE KOH FOOD Junction Holdings has taken its first step in getting a foothold into the China market by accepting an offer to operate a food court in the heart of Beijing's financial district. The Sesdaq-listed food and
      FILE PHOTO  -  303 words
    • COMPANY BRIEFS
      • 90 6 ECON Healthcare Ltd (EHL) and Tan Tock Seng Hospital Pte Ltd (TTSH) signed a memorandum of understanding (MOU) yesterday to collaborate in the planning, design and development of hospitals and other healthcare facilities, and to provide management services and training
        90 words
      • 69 6 Bloomberg SINGAPORE Power Ltd's Australian unit is offering US$3OO million of 10-year bonds, an e-mail by one of the sale's arrangers said. The US-dollar bonds, to be sold by SPI Electricity Gas Australia Holdings Ply Ltd, will be rated A3 by
        Bloomberg  -  69 words
      • 35 6 CREDIT Suisse First Boston (Singapore) Limited, as stabilising manager for the initial public offer of Star Hub, yesterday bought 1.5 million shares at a price of 90.5 cents each.
        35 words
      • 94 6 Bloomberg CREATIVE Technology, which makes the Nomad digital music player that competes with Apple Computer's iPod, picked ABN Amro Holding to arrange a US$l5O million loan to boost working capital, bankers involved in the deal said. Creative will pay an interest margin
        Bloomberg  -  94 words
      • 115 6 Bloomberg BANK of Asia, a Thai unit of Singapore's United Overseas Bank, posted a loss in the third quarter after setting aside money to cover bad loans. The lender had a 518.7 million baht (Ss2l million) loss in the
        Bloomberg  -  115 words
      • 119 6 MAINBOARD-LISTED GeneMedix pic, a UK-based biopharmaceutical company which has a primary listing on the London Stock Exchange and a secondary listing here, announced yesterday that it is raising approximately £292,000 (*****,660) through a placing for cash of 2.5 million new ordinary shares. This funding
        119 words
    • 462 6 Analysts cite high start-up costs, record oil prices Reuters CHARTERED Semiconductor Manufacturing Ltd probably swung into profit last quarter, but the contract chip maker's outlook remains grim amid tepid demand and an industry Oversupply. Singapore-based Chartered, the world's thirdlargest supplier of made-to-order
      Reuters  -  462 words
    • 649 6 Reuters SINGAPORE-LISTED property trust Fortune Reit is looking to double its holdings in Hong Kong shopping malls to over US$B5O million by the end of next year, partly by buying more from its backer, Cheung Kong. The trust's manager said 10
      Reuters  -  649 words
    • 314 6  -  By JEAN CHUA A SUBSIDIARY of Bio-Treat Technology has been recognised by the Guangdong provincial government for its work in environmental engineering and has been awarded the status of a research and development centre, a title usually reserved for university institutes. Golden Idea
      314 words
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  • Page 5 Advertisements
    • 354 5 ffiwjl The Birmingham Business Schooj THE UNIVERSITY OF BIRMINGHAM The University of BirTninglfafrflH MBA Programme (full-time) in K jjj I^^^ I Coo»oruum If you |||(e to attend, please contact: I^eccSS A,mah T#,:0222 3500 Fax:6227 3476 I Web www eec.edu ag Email asmah@aec.edu.sg, sweeseng@aec edu.sg 4hI^HI <$ |^^^^^HP^Hlß wt- v Sole
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  • MID CAPS
    • 872 7  -  Brokers are upbeat on the company's earnings outlook and dividend payouts as it expands operations overseas, writes WONG WEI KONG WONG WEI KONG GROWTH and special dividends that's what the market is expecting Accord Customer Care Solutions (ACCS) to deliver. And it's reflected in
      FILE PHOTO; Source: Bloomberg  -  872 words
  • Page 7 Advertisements
    • 78 7 Jrt iiiniM fAfc V fo. Jjm b* r L x W'M*J9ok I A ■Bhß 4&ft£y* mSSmimßS^^m^SSL Be enthralled by Pizza Acrobatica World Champion, Ms Oriana Tirabassi, as she brings you the enticing tastes of authentic Italian pizzas, together with her fascinating pizza-making stunts at Prego! For reservations or enquiries, please
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    • 546 7 THE COMPANIES ACT, CAP. 50 KCSM CONSULTING PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) Com pony Registration No: *****4646E At an Extraordinary General Meeting of the Members of KCSM CONSULTING PTE LTD duly convened and held at 101 Upper Cross Street *04-43 People's Park Centre, Singapore *****7 on the 19th day
      546 words
    • 475 7 ®pt inco Tbk PT INTERNATIONAL NICKEL INDONESIA Tbk ANNOUNCEMENT TO SHAREHOLDERS The Board of Commissioners of PT International Nickel Indonesia Tbk. ("PT Inco") at a meeting of October 15, 2004 has approved the declaration of an interim dividend in respect of 2004 of 0.0125 US Dollar per share. Schedule: 1.
      475 words
    • 191 7 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF (1) RHEMA-MANNA PTE LTD (IN LIQUIDATION) (COMPANY No. *****4367Z) (2) HARVEST CAFt PTE LTD (IN LIQUIDATION) (COMPANY No. *****1674 C) (3) E-MAX TRADING PTE LTD (IN LIQUIDATION) (COMPANY No. *****6610R) (4) NAS-TRANSTECH TECHNOLOGY PTE LTD (IN
      191 words

  • SINGAPORE MARKETS
    • 515 8  -  STOCKS A tense, absorbing and sometimes entertaining affair for players, with money invariably lost R SIVANITHY Senior Correspondent SOMEONE recently observed that equity markets are beginning to resemble a pinball game money is put in, traders hit their terminal keys like pinball flippers, prices
      Source: Bloomberg  -  515 words
    • Article, Illustration
      429 8 OTHER SINGAPORE INDICES Oct 20 VALUE CLOSE BT OB/OS -610.00 -105.00 BTCADI -*****.00 -118.00 BT 10-day MA -*****.00 -61.00 All-SG Equities 509.02 -4.49 SG Equities Elect 156.32 -1.50 SG Equities Fin 1568.78 -10.50 SG Equities Prop 466.96 -3.87 SIMSCI 234.30 -2.15 SiMSCI Futures 234.60 -2.10 MOST ACTIVE STOCKS VOLUME Fung
      429 words
    • Article, Illustration
      983 8  -  Compiled by KENNETH LIM ASIA Environment has entered into a preliminary agreement that will give it 100 per cent ownership of Yixing Quanxi EP Co Ltd. A company also in the business of water and waste-water treatment, Yixing Quanxi is similarly located in Asia Environment's home city of
      Source: Bloomberg  -  983 words
    • 515 8  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar's overnight rout accelerated in Asian trading yesterday, with the break of several key technical supports forcing a test of lows not seen in up to eight months. For example, a closely-watched index of the US currency's value
      Source: Reuters  -  515 words
    • TRADES TO WATCH
      • 152 8 ZAGRO Asia chairman and chief executive Poh Beng Swee is now deemed to control another 2.5 million shares of the animal feed specialist after investment vehicle PohConnect Holdings exercised a call option to buy those shares at 20 cents apiece this month. The
        152 words
      • 117 8 FUND manager Schroder Investment Management is no longer a deemed substantial shareholder of CHT Holdings after sales on behalf of clients for whom Schroder is acting as an investment adviser. CHT is a China-based maker of plastic adhesive tapes. On Friday last week, Schroder's
        117 words
      • 138 8 TOH Soon Huat, acting chairman and chief executive of Novena Holdings, has seen his deemed interest climb over the past week as a result of open-market purchases made through Kim Eng Securities. On Tuesday last week, Kim Eng bought 95,000 shares in the furniture and
        138 words
      • 92 8  -  Compiled by KENNETH LIM CEI Contract Manufacturing's executive directors exercised 770,000 share options each at 12.15 cents apiece on Tuesday, raising their respective stakes by about 0.25 percentage points each. Executive chairman Tien Sing Cheong's direct stake in the printed circuit board assembly specialist now
        92 words

  • Page 9 Advertisements
    • 95 9 H Vp^ 6 Developed Ucense No: ***** (Amendment 1). Developer: UOL Development (Novena) Pte. Ltd. Tenure of Land Estate in Fee Simple (Freehold) Lots 381W, UOL Development (Novena) Pte Ltd. g» 382 V PT (SL) 829N PT (SL) TS2B at 60 Newton Road. Singapore BP No: A1576-111-2003-BPOI dated 28 August
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  • SINGAPORE NEWS
    • 470 10  -  Creative industry players welcome increased guards against abuse of IP By CHEN HUIFEN 'THE impending change to the Copyright Act has been lauded by those in the me--dia and entertainment industries who said that it -Would give creative professionals more confidence in moving their ideas
      FILE PHOTO  -  470 words
    • 232 10 PERSONAL computer (PC) shipments in Asia Pacific (excluding Japan) showed no signs of slowing down in the third quarter of this year, growing instead by 9 per cent from the previous quarter and 13 per cent year on year. According to preliminary
      232 words
    • 216 10 A SURVEY has found that small and medium enterprises (SMEs) are pro-ac-tive in problem solving with feedforward and concurrent controls emphasised over feedback control. The poll of 128 individuals by the Singapore Institute of Management (SIM) on their organisation's controlling function found that the
      216 words
    • 278 10 PASSENGER car COEs yesterday rose slightly from the year's low set in the previous tender as renewed buying interest led to an increase in bookings. Category A for cars below 1,600 cc had garnered strong interest even before any bids in the other
      278 words
    • SINGAPORE ROUNDUP
      • 54 10 HOTEL Information Systems Asia, which provides enterprise information solutions for the hospitality and leisure industry, yesterday said it has been commissioned by The Ascott Group to implement enterprise solutions to streamline its worldwide information system. The Ascott Group is the largest servicedresidence company
        54 words
    • 368 10 IN line with its strategy to focus on high-end services, Parkway Hospitals Singapore Pte Ltd yesterday opened a $1.2 million haematology and stem cell transplant centre at Mount Elizabeth Hospital, one of the three private healthcare facilities it owns here. The haematology and
      368 words
  • Page 10 Advertisements
    • 370 10 THE COMPANIES ACT, CAP. 50 ANDREW CHENG HOLDINGS PTE. LTD. (IN MEMBERS' VOLUNTARY LIQUIDATION) Company Nos *****5082G At an Extraordinary General Meeting of the Members of ANDREW CHENG HOLDINGS PTE. LTD. duly convened and held at 101 Upper Crow Street #04-43 People'• Park Centre, Singapore *****7 •n the 19th day
      370 words
    • 25 10 Lianhe Zaobao What should I modern, I enterprises I do with their I elderly I workers? I ©gm I jg g I fill I I
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  • Page 11 Advertisements
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  • SINGAPORE FOCUS: SERVICES
    • 1127 12  -  Its strategic location allows international organisations to grow beyond national borders, says JOYCE KOH JOYCE KOH ■j F Singapore were one of the sites for the Amazing I Race, contestants would have little trouble getting in and out of the country since they can easily hop
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  • Page 12 Advertisements
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  • Page 13 Advertisements
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  • ECONOMY WATCH
    • 730 14 Some economists find obsessing about the current account misplaced Reuters [SINGAPORE] Dollar bears have long argued that a yawning US current account deficit would send the dollar tumbling. But as each month passes and the deficit grows, analysts are debating if the current
      Reuters  -  730 words
    • 913 14  -  Politics seems to be a shaping force in its latest GDP figures WILLIAM PESEK JR IT'S really hard to get excited about Friday's report on China's gross domestic product. For one thing, even if Chinese growth slowed in the third quarter and you can
      913 words
    • 374 14 Bloomberg [BANGKOK] Thailand's central bank raised its benchmark interest rate by a quarter point for the second time in two months to curb inflation fuelled by record crude oil prices. The Bank of Thailand (BOT) boosted its 14-day bond repurchase rate
      Bloomberg  -  374 words
    • 458 14 Reuters [BRUSSELS] The European Commission will revise downwards its 2005 economic growth forecast because of soaring oil prices. Economic and Monetary Affairs Commissioner Joaquin Almunia said yesterday. He voiced his concern before a euro zone fmance ministers' meeting in Luxembourg
      Reuters; AP  -  458 words
    • 174 14 AFP [BRUSSELS] None of the European Union's 10 new member states yet fulfils the criteria for joining Europe's single currency, the European Commission said in a report published yesterday. The EU executive praised efforts by the mostly ex-communist EU newcomers, as well
      AFP  -  174 words
    • 430 14 Forex regulator says many market economies also have currency pegs AFP [BEIJING] The government's top forex regulator argued yesterday that the peg of China's currency to the US dollar is not a good enough reason to consider the country to be a
      AFP  -  430 words
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  • MALAYSIA COMPANIES
    • 484 15  -  But rising oil prices, competition seen throwing its profit forecast off-course By EDDIE TOH in Kuala Lumpur AIRASIA and its owners are set to rake in RMB64 million (Ss3Bo million) in its much-anticipated initial public offering for its rapid expansion, but the sole
      AFP  -  484 words
    • 478 15 Bloomberg [KUALA LUMPUR] Shares of the Lion group of companies, controlled by Malaysian businessman William Cheng, surged after analysts at G K Goh Research Sdn and BNP Peregrine Sdn recommended the stocks, citing rising profit and falling debt. Lion Corp, owner of Malaysia's
      Bloomberg  -  478 words
    • 171 15 AFP [KUALA LUMPUR] Malaysian property developer Mahajaya Bhd said that it has signed a joint venture pact to develop a 600 million yuan (Ssl 21.6 million) satellite city in China's Hubei province in its first foray overseas. Mahajaya's 30 per cent-owned associate company,
      AFP  -  171 words
  • Page 15 Advertisements
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      87 words

  • MALAYSIA/INDONESIA
    • 610 16 Outgoing president gives successor's inauguration ceremony a miss AFP. AP [JAKARTA] Megawati Sukarnoputri, who should be remembered for steering Indonesia on a steady course to democracy is as likely to go down in history as the truculent president whose departure was as silent as
      AFP.; AP; AFP  -  610 words
    • 261 16 Reuters [KUALA LUMPUR] Malaysia ordered an investigation on Tuesday into school construction projects, the latest probe into a growing controversy over possible corruption, waste and shoddy work in state projects. The education ministry launched the review after embarrassing media reports about two multi-mil-lion-dollar
      Reuters  -  261 words
    • 307 16 Stanchart expects 10% appreciation to RM3.30-3.50 [KUALA LUMPUR] Standard Chartered Bank expects the ringgit to possibly undergo a 10 per cent upward revaluation in the second half of next year to a rate of between RM3.30 and RM3.50 to the US dollar, compared with
      307 words
    • 209 16 Reuters [JAKARTA] Indonesia expects Standard Chartered to complete payment for a 51 per cent stake in the country's seventh-largest bank, PT Bank Permata, in the rupiah currency on Nov 11. Dealers follow closely the government's asset sales and the payment schedules, which could
      Reuters  -  209 words
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  • Page 16 Advertisements
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  • GREATER CHINA/INDIA
    • 431 17 Regulator tightens rules on trust companies' selling of real estate trusts Reuters Bloomberg [BEIJING] China's stock indexes fell after the banking regulator proposed curbs on real estate lending by trust companies, stoking concerns that earnings will be eroded. The Shanghai Composite Index, which tracks
      Reuters; Bloomberg  -  431 words
    • 472 17 Reuters [BOMBAY] India's pharmaceuticals industry is set for rapid growth in the medium term and should eventually match the success of its booming software sector, the chief investment officer of the country's largest mutual fund said. "Pharma as a whole is a
      Reuters  -  472 words
    • 264 17 Bloomberg [MUMBAI] Satyam Computer Services Ltd, India's fourth-biggest software company, said profit rose 28 per cent in its second quarter as it gained more orders. Net income rose to 1.89 billion rupees (Ss69 million), or 5.87 rupees per share, in the three months ended
      Bloomberg  -  264 words
    • Article, Illustration
      86 17 [BEIJING] Chinese models showing off creations by local designers, which include fashion, hairdos and makeup, to kick off the 3rd China International Beauty Week here on Tuesday. China's booming beauty market, with US$7 billion in sales last year and growing at an average clip of2o per cent a
      AFP  -  86 words
    • 389 17 Tougher disclosure rules provoke rethink: source Reuters {HONG KONG] Flag carrier Air China may list in Hong Kong and London but not New York when it launches an IPO that could raise more than US$5OO million, a source familiar with
      Reuters  -  389 words
    • 203 17 AFP [SYDNEY] Australian telecoms giant T elstra Corp was criticised by unions yesterday for outsourcing hundreds of information technology (IT) jobs to India. Telstra chief executive Ziggy Switkowski confirmed contractor EDS Australia would no longer perform billing work for the company
      AFP  -  203 words
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  • ASIA-PACIFIC/WORLD
    • 1021 18  -  JAPAN INSIGHT There are signs that China, for one, is on the verge of a global spree of strategic acquisitions that could dent its dollar reserves seriously ANTHONY ROWLEY Tokyo Correspondent IS THE great Asian overhang of US dollar reserves about to melt, like
      1,021 words
    • 488 18 Reuters [LISBON/MILAN] With Asian textile and clothing producers preparing a mass assault on US and European markets, Europe's manufacturers say only a flight to quality to luxury and design niche markets can save them. "We don't have the slightest chance in competing
      Reuters; Source: World Trade Organization; Photos: AP/Reuters  -  488 words
    • 300 18 AP [HARTFORD, Connecticut] New York Attorney General Eliot Spitzer has broadened his probe into insurance brokerage fees to include life and health insurance company practices. The attorney general has served health insurers Cigna Corp, which is headquartered in Philadelphia, and Hartford-based Aetna
      AP  -  300 words
    • 267 18 Reuters [NEW YORK] Three senior Citigroup executives are leaving the company, after being found partially responsible for last month's forced closure of Citigroup's private bank in Japan, a person familiar with the matter said. The departing executives are Deryck Maughan, Thomas Jones
      Reuters  -  267 words
    • 383 18 It is studying if they inflated earnings by false reporting Reuters, Bloomberg [MICHIGAN] General Motors Corp and Ford Motor Co, the two biggest US automakers, received requests from the Securities and Exchange Commission (SEC) for information about the companies' pension accounting. General Motors
      Reuters,; Bloomberg  -  383 words
    • 513 18 CORPORATE EARNINGS AP. Reuters [CHICAGO] Motorola, the largest US cellphone maker, more than quadrupled its third-quarter earnings to US$479 million thanks largely to new handsets that helped boost its sales by a whopping 26 per cent. The results reported on Tuesday slightly outpaced
      AP.; Reuters  -  513 words

  • AVIATION
    • 722 19  -  It will provide engineering support for Jetstar's fleet By VEN SREENIVASAN [SINGAPORE] Singapore Technologies Aerospace, already the world's largest airframe engineering specialist, has just clinched a US$47 million aircraft maintenance contact from Asia's newest low cost carrier (LCC), Jetstar Asia. Under the deal, ST
      722 words
    • LOG BOOK
      • 55 19 AFP [NEW DELHI] Druk Air, Bhutan's national carrier, has taken delivery of its first Airbus aircraft, state media reported yesterday. The A 319 landed at Paro, the country's sole airport, on Tuesday, the official Kuensel newspaper reported. A second Airbus is due
        AFP  -  55 words
      • 107 19 Bloomberg [WELLINGTON] Air New Zealand will raise charges for passengers a third time as jet fuel prices surge to a record. Air New Zealand will increase its charge on Australian and Pacific Island flights to NZ$3O (Ss34) on Oct 26. it said in
        Bloomberg  -  107 words
      • 42 19 AFP [WASHINGTON] A US commuter plane en route from Saint Louis, Missouri, to the town of Kirksville in the northern part of the state has crashed, killing at least five of the 12 people onboard. —AFP
        AFP  -  42 words
      • 86 19 Bernama [KUALA LUMPUR] Malaysia Airlines aims to attract more business travellers with its newly reconfigured Boeing 777-200 and the retrofitted 747-200 aircraft. The first reconfigured 8777-200 aircraft will begin operations in December, flying the Kuala LumpurTokyo, Zurich and Sydney sectors, while the first retrofitted
        Bernama  -  86 words
    • 310 19 Bloomberg [MELBOURNE] Virgin Blue Holdings Ltd, Australia's second-largest airline, said it may raise fares on some routes instead of following rivals with a higher fuel surcharge on all flights as jet fuel prices reach record highs. Virgin Blue won't raise its surcharge of
      Bloomberg; REUTERS  -  310 words
    • 521 19 But it continues to bar foreign carriers from holding stakes Reuters [NEW DELHI] The Indian government approved a proposal yesterday to raise the foreign equity limit in airline firms to 49 per cent from 40 per cent but continued to bar
      Reuters  -  521 words
    • 237 19 AFP [HONG KONG] Hong Kong flag carrier Cathay Pacific Airways said yesterday that it will start daily passenger flights to Beijing from December after securing additional rights. The airline currently flies three times a week to Beijing. Under a new aviation
      AFP  -  237 words
    • 390 19 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 EVA
      390 words

  • SHIPPING
    • 571 20 Operators say they have raised safety and efficiency, offering increased productivity gains [SINGAPORE] Panama is considering increasing tolls for ships passing through the Panama Canal, to allow for a future expansion of the waterway, according to the state's Economy Minister Ricaurte Vasquez. The minister
      FILE PHOTO  -  571 words
    • 291 20 SGX '000 Oct 20 S$ Vol CH Offshore 0.40 -0.01 3428 ChuanHup 0.68 -001 ***** Cosco Investment 1.01 -0.03 6570 CWT Distribution 0.56 0.01 234 Ezra Hldgs 1.23 unch 350 Freight Links 0.10 -0.01 439 Grand Banks Yacht 0.82 4.02 10 Jaya Holdings 1.03 unch 771 K1 Venture
      291 words
    • 55 20 [TRINITE-SUR-MER. France] Crew members walking on the trampoline net of the speed-multi-hull prototype Hydropter in La Trinite-sur-Mer harbour, north-western France as she is held up by a crane. The ship, which can sail up to a speed of 45 knots, was put into water this week by
      AFP  -  55 words
    • 475 20 Bloomberg [SINGAPORE] The cost of shipping crude oil from the Persian Gulf to Asia rose to a record as oil companies and traders competed for ships to load cargoes in late November. Exxon Mobil Corp hired the Hyundai Sun to load two million
      Bloomberg  -  475 words
    • 274 20  -  By DONALD URQUHART [SINGAPORE) The vessel at the centre of an international controversy last year very nearly made headlines again this week after initial reports said it was carrying a cargo of nuclear material following its grounding off the coast of South Africa.
      274 words
    • 161 20 Bloomberg [SHANGHAI] Shanghai Port Container Co, the publicly traded unit of China's biggest port, had a 20 per cent gain in third-quar-ter profit, as the nation's expanding foreign trade fuelled demand for cargo transport. Net income in the three months ended Sept 30 increased
      Bloomberg; FILE PHOTO  -  161 words
    • 262 20 Bloomberg [MELBOURNE! Shipping costs for dry-bulk cargoes will fall in 2005 because of a slowdown in Chinese imports of iron ore, the raw material used to make steel, shipbroker Simpson, Spence Young Ltd said. The cost of shipping cargoes like iron ore and
      Bloomberg  -  262 words
    • 254 20 Bloomberg [HONG KONG] Singamas Container Holdings Ltd, the world's second-biggest maker of shipping containers, will expand its manufacturing capacity by 56 per cent by 2007 to meet growing demand as China's trade with the US and Europe increases. The company will increase
      Bloomberg  -  254 words

  • Page 21 Advertisements
    • 100 21 One-Stop Shipping Services Ship Registrations Ship Classifications j Radio Accounting Tuvalu, Mongolia, Panama, Quality, Safety, Security SSfVICSS Belize and many other flags Surveys and Consultants Accounting Authority RSO6 competitive fees low taxes 24-hour efficient service, 365 days a year Worldwide network of surveyors No restriction on nationality of IC S
      100 words
  • THE BUSINESS TIMES SHIPPING TIMES

  • EDITORIAL & OPINION
    • 526 22 EDITORIAL INDONESIA yesterday inaugurated its fourth president in six tumultuous years since former strongman Suharto stepped down in May 1998. Susilo Bambang Yudhoyono, however, can claim that he truly is the people's choice, being the country's first directly elected president in its 59
      526 words
    • 1478 22  -  South Korean companies are taking advantage of lower wages at a new industrial park in North Korea By JAMES BROOKE NYT FIVE miles up a highway from a new break in the barbed wire wall across Korea at Dorasan, visitors may glimpse the peninsula's economic future: the
      NYT; REUTERS  -  1,478 words
    • 770 22  -  THE BOTTOM LINE YOGI AGGARWAL THE ruling Congress-led alliance in India has emerged stronger after it managed to take a leading position in the just concluded election to the state assembly in Maharashtra. The BJP-Shiv Sena alliance was shaken by its
      770 words
    • 884 23  -  The next US president will have to look beyond Iraq and terrorism to deal with nuclear threats in North Korea and Iran ROBERT SAMUELSON The Washington Post Writers Group THE world now has about 20,000 nuclear weapons; there were once 65,000. It must be
      The Washington Post Writers Group; REUTERS  -  884 words
    • 733 23  -  LETTERS TO THE EDITOR Tan Sin Liang Singapore I READ the article "More wealth, less protection" (Executive Money, BT, Oct 13) by Genevieve Cua with much interest. I note, in particular, the following paragraph: "When the draft amendments are passed, advisers
      733 words
    • 160 23  -  K Bhavani (Ms) Director,corporate communications Ministry of Information, Communications and the Arts WE refer to your article, "UK fund manager's stake in SPH over 5% mark" (BT, Sept 29 It states that Silchester International Investors Ltd's direct and deemed interest in Singapore Press Holdings (SPH)
      160 words
    • 368 23  -  Tan Ser Ping Chief executive officer Ascendas-MGM Funds Management Limited, manager of A-Reit WE thank you for the article "What will A-Reit do when pace slows?" (BT, Oct 18). We would like to assure readers that A-Reit has a balanced strategy of yield accretive
      368 words

  • Page 23 Advertisements
    • 103 23 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to bttettefOsph.coausg 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
    • 17 23 /""VJelling y car? Call our C.A.T.S. hotline at Icaj.s.l 1800-289-9988. Buy It. Sell It Find it 8
      17 words
  • Page 23 Miscellaneous
    • 328 23 CRYPTIC CROSSWORD a*-bacc 4 Some fine educators live in 5 l-' poverty (4) coo 9 fish many g Qne praising old Scots musict,sh (8) hall star (6) u V f^ n ter l! eac er 7 Woolly kind of corgi (8) /o\ 8 Diplomatic initiative from 9 Quit being submissive
      328 words

  • Page 24 Advertisements
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  • Page 25 Advertisements
    • 911 25 MOt Comhiim C oronga of shipping mocks to «nsoro timely, covering motor porta Norm America, Europe, Japan, Asm, Africa 4 Oceania. Abo mq* htar-AAi Grp* to: 7 1 For Schedules, BL Searches, and Container Tracking, visit on our Home Page: www.molsin.comtjfl www.hamborflsuj.com H ASAf soma (txrom ImUm lUiW (*****22-2M3 »SAft
      911 words
    • 1352 25 iKti- I KYH I PUS] VESA VOY Sftf PKG lHHnm»n Im m I 7/11 I yii s/11 1 pekth bridge 67iA IS7JT 3fl7TTi I GOLDEN GATE 1433 M I 9/11 110/11 112/11 I- I PERTH BRIDGE 066 A j/jT 6/11 I GOiDEH TRADE 1410N I H/ll 117/11 119/11 1-I- I
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    • 960 25 sj@2s& WEEKLY EXPRESS SAIUNG SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS VESSEL VOT SH PJtUNO CDtO—O N. St*VA COUMMO tow pawn* YTWOSI noa won 230 a 2400 won IHDIU GAWDHI OM7W 25 OCT 27 00 30 OCT 02 NOV 05 NO* HUM OM7W 01 NOV 03 MOV
      960 words

  • Page 26 Advertisements
    • 1252 26 la2a| wallenius wilhelmsen W w w W website: http://www.2wglobol.com VKSa IVOT [S» I I HOIK Il* I SAY I*l |0» NYC INW MOO TAMO AM2I 4201 MS 6.4 M I 31/10 24/11 03/1? 10/12 11/1* 15/1* U/«* 17/1* 07/12 UUSMAN AF422 3201 MS 6.3 M I 15/11 10/12 20/12 27/12
      1,252 words
    • 633 26 JSSSB SSI SB Kll ween vor <■ mum 1322* 20/10 ?W.n SrSlTtll mo ™io TV!*— fgg Mk 2izis— KSBT 4137 litis —sflS— 22/10 tiumn 7 nu 2*/ld w/io 22Z1S— 24/10 ncmxtM m\ 27/io 30/10 Of 2XI 004TP 24/10 25/10 PX MM I32SN 24/10 25/10 sf y OMW YBffl MtwtoA ——imtn
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    • 162 26 VS» VOT ft* UD HMI UWY 32/10 25/10 27/10 KUTUN6/PttJAIAM MiATAI 20/04 23/10 24/10 JAMM/PERAMARU PARADKI 12/04 25/10 27/10 PAUMBAHG/PAWANG PRIMA SAMUORA 12/04 25/10 27/10 IBAWAN/UIORMAWE PUUUWBI 00/04 20/10 30/10 SMANG/MAMAYATI HATI"« 21/04 25/10 27/10 KNWUUI/PADAIOC 1 i 1 magna TRANS EXPRESS Of/04 25/10 27/10 iAKAITA/OGAMNG F AMR MAS 17/04
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    • 484 26 BSA n. MYANMA VH FIVE STAR LINE (Mymmor Natioßol U»e) Loadiag far Yang oh VtSSU vor SM PRI PEN PGU PAGAN 336W 31/10 NPA-AN 326W SIB IN MALAYSIA: lOUSTEAD SHIPPING AGENCIES KUL 03-*****300 PRL 03-*****101 PEN: 04-*****02 A t>aAi > ACCEPTIWB COIVEHTIOMAL CBO NRG SM NRG SM PGU PRI RUC
      484 words

  • 3785 27 STRAITS TIMES INDEX STOCKS Stotfc iwiw Wt Oof Chjny Stock name Wt Pot* Change Allgreen 50c 0.30 1.040 NOL 2.18 2.950 -0.030 BIL Imtl US20C 0.47 0.985 -0.005 OCBC 10.68 13.700 +0.100 Capita Land 1.22 1.770 +0.030 Parkway H 25c 0.71 1.470 -0.010 Chart SemiCond 26c 0.80 1.020
    3,785 words

  • 2838 28 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES tatecrfon kS! InUtt %dy %r **y *r Pan trnitx Changm thmy Puny Ottnpa Ch*QQ» Chang* WbrtJ Index Preliminary 7949 0.2 21 01 0.5 03 1p *EAFEPre*m«wy 7150 U 49 08 10 45 Europe Preliminary 10® 7 09 4.3 04 2.7 1* 43 Pad*
    2,838 words

  • BizIT
    • 647 29  -  Its India labs collaborates closely with S'pore in R&D, RAJU CHELLAM reports from Bangalore RAJU CHELLAM ROYAL Philips Electronics plans to hire 1,300 software engineers by 2007 to work on R&D projects at its PSC (Philips Software Centre) in Bangalore, where it currently employs about
      647 words
    • 474 29  -  By RAJUCHELLAM in Bangalore INDIA'S IT capital Bangalore is in a hurry to beef up its infocomm infrastructure and manpower in its bid to boost IT exports from the current U554.26 billion to US$6 billion by the end of the current fiscal year ending March
      474 words
  • Page 29 Advertisements
    • 397 29 Ml Trapped Liberated IJ fl Bhnintd J fl DB2 DOESN'T LOCK YOU IN. YET ANOTHER REASON WHY DB2 IS THE WORLD'S LEADING DATABASE PLATFORM. DB2 is middleware and it's central for Oracle up to four times higher Fortunately, IBM offers ongoing, to your data management. In fact, than DB2. Solitaire
      397 words

  • PROPERTY
    • 561 30  -  Market players say demand is growing and sector is poised to expand next year By VINCE CHONG THE construction sector's, contribution to Singapore's growth is likely to turn positive from next year, with demand in the sector expected to grow marginally to $11
      FILE PHOTO  -  561 words
    • 469 30 Bloomberg [LONDON] UK mortgage lending fell in September and shares of house building companies slid on mounting evidence that Britain's five-year property boom is coming to an end amid rising interest rates. Gross lending slipped to £25.4 billion (5576.8 billion), from £25.9
      Bloomberg  -  469 words
    • 485 31  -  Change to come when anchor tenant BP moves to Keppel Bay Tower By ANDREA TAN BP Towers at Alexandra Road is likely to sport a new name soon. Oil major BP is said to be moving out of its namesake building and into Keppel
      485 words
    • 314 31 Reuters [HONGKONG] Demand and prices for Hong Kong property grew in the third quarter after a slowdown in the previous quarter, helped by a more promising outlook for the real estate sector, property consultants said yesterday. "Rents and prices increased across
      Reuters  -  314 words
    • 178 31 Brought to you by Find out more about HSBC home loans today. Call 1800 HSBC NOW (1800 4722 669) or visit www.hsbc.com.sg. 11 ,ii PROJECT NAMB PROP CONIMCI TENURE MHMM) HUCE P* STWETWME TYPE PWt MEA'CQtt) (St'OOQ) S» Lowland Rd 3-0et
      178 words
  • Page 30 Advertisements
    • 347 30 FOR SALE BYTENDER J 7 BRIZAY PARK GOOD CLASS BUNGALOW SITE Wide Frontage Land Area approx 24,000 sq ft fra Exclusive and tranquil residential enclave surrounded by mature greenery Accessibility enhanced by close proximity to major highways PIE AYE Near retail facilities, reputable schools and higher educational institutions 1 TENDER
      347 words