The Business Times, 26 October 2004

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Total Pages: 32
1 32 The Business Times
  • 11 1 THE BUSINESS TIMES SINGAPORE 95 and onMre at tfcmiarialxomjg IfTAftOZMBfIOM Mb|()dntar%2oDl
    11 words
  • 550 1  -  By CHUANG PECK MING [SINGAPORE] India and China may be the global magnets for outsourcing, but Singapore still retains a niche as the second fastest growing hub for outsourcing as far as American businesses are concerned. According to a
    Source: US Department of Commerce  -  550 words
  • 134 1 Dsn 1,953.44 (-13.63) ST INDEX FUTURES 1.971.00 (undi) siMsa ***** (-1.63) SIMSa FUTURES 233.80 (-2.30) PRIME RATES SINGAPORE 5.25 MALAYSIA 6.00 HONGKONG 5.125 INDONESIA 39.00 TAIWAN 6.500 JAPAN 1.375 KOREA 9.35 BRITAIN 4.75 US 4.75 CANADA.-™ 4.00 SWITZERLAND 2.22 INDIA 10.25 Source: Bloomberg MARKETS Monday Change KLSECOMP 850.95
    134 words
  • 43 1 TOP STORIES... PG 2,4 COMPANIES. PG6-11 MARKETS PG 10 SINGAPORE .....PG 13 ECONOMY PG 14 MALAYSIA. PG 15-16 CHINA PG 17 INDIA PG 17 WORLD PG 19 AVIATION PG 20 SHIPPING PG21 EDITORIAL ..PG 22-23 LETTERS PG23 STOCKS PG 24-25 PROPERTY.. PG31-32
    43 words
  • 654 1  -  Some fear it may be start of a serious downmove by currency By LARRY WEE [SINGAPORE] The US dollar suffered heavy losses in Asian trading yesterday, and a further retreat against its major counterparts and Asian currencies is expected. Traders said they
    654 words
  • Page 1 Advertisements

  • TOP STORIES
    • 388 2  -  Oil is of the more valuable light and sweet variety, preliminary analysis shows Reports by RONNIE LIM [SINGAPORE] Singapore Petroleum Company's foray into oil exploration in the region seems to be paying off. Yesterday, the listed oil refining and retailing company disclosed that
      388 words
    • 617 2 {SINGAPORE] Diesel is cheaper than bottled mineral water in Malaysia, thanks to government subsidies. And for petrol, motorists there pay half of what their Singapore counterparts shell out These contrasts were gleaned from a just-re-leased report by Credit Suisse First Boston (CSFB),
      617 words
    • 730 2 Tokyo stocks hit as US$ falls to 6-month low vs yen THE Tokyo stock market took a heavy hit yesterday as the US dollar's drop to a six-month low against the yen stoked fears that Japan's export-led economic recovery could soon be choked off. The market was already
      730 words
    • 462 4  -  Selection based on US$1b revenue cap, five-year returns on capital of over 5% By WONG WEI KONG [SINGAPORE] Two plastics firms, Fu Yu Corp and Meiban Group, are among six Singapore companies in Forbes' "Best Under a Billion"
      462 words
    • 644 4  -  Market fears yen's rise may put export, boom in jeopardy By ANTHONY ROWLEY in Tokyo THE Tokyo stock market took a heavy hit yesterday as the US dollar's drop to a six-month low against the yen stoked fears that Japan's export-led economic
      PHOTOS: AFP, REUTERS  -  644 words
    • 292 4 Reuters [NEW YORK] Wealthy Americans are becoming increasingly worried about the country's economic outlook, and their reluctance to spend and invest is hurting growth, a survey showed yesterday. As oil prices boil to new records and Iraq continues to appear unstable, McDonald Financial
      Reuters  -  292 words
    • 268 4 LATEST US DATA Reuters [WASHINGTON! Sales of existing US homes surged unexpectedly in September on low mortgage rates, a trade association group said yesterday, adding that activity would have been even more brisk had hurricanes not hit the south. Sales of previously owned
      Reuters  -  268 words
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  • COMPANY NEWS
    • 627 6  -  Group on lookout for more deals in M'sia, Indonesia, China, Middle East By ANDREA TAN SINGAPORE'S Raffles Medical Group is buying Penang's Island Hospital for RMIIO million (Ss4B million) a further sign of the warming relations between Singapore and Malaysia. This is
      627 words
    • 333 6  -  By ANDREA TAN ORNAMENTAL fish breeder Qian Hu swung into the red with a net loss of $682,000 in the third quarter, blaming the reversal of fortunes on start-up costs of its retail chain stores and lower demand for its fish and
      333 words
    • 695 6  -  HOCK LOCK SIEW By WONG WEI KONG WHAT good is a profit warning when it comes just a trading day before the actual losses are announced? Early on Friday, ornamental fishbreeder Qian Hu Corp warned the market that it was not profitable in
      695 words
    • 34 6 UNIT TRUSTS FUNDS LEGEND:All prices are indicative;Broadly Diversified; Narowly Focused;$ 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
      34 words
    • 587 9  -  But analysts are optimistic with positive ratings on DBS, UOB and OCBC By SIOW LI SEN SINGAPORE bank stocks yesterday remained weak ahead of third quarter earnings results, with DBS Holdings and OCBC Bank falling through their technical supports. Some analysts say
      587 words
    • 417 9  -  Strong showing due to higher development profits By KALPANA RASHIWALA REAPING the fruits of its overseas projects, Keppel Land derived 69 per cent of its third-quarter net earnings of $32.6 million from abroad, compared with a 39 per cent share in the
      417 words
    • 369 9 COMPUTER audio equipment maker Creative Technology Ltd probably saw flat first quarter profits due to higher advertising expenses, even as robust MP3 player sales boosted revenues, analysts said. But the current quarter should benefit from new product launches, including its widely
      369 words
    • COMPANY BRIEFS
      • 43 9 SINGTEL yesterday started trials of third generation (3G) video calls between mobile and fixed-line phones. During the month-long trial, participants are given a fixed-line video phone to make voice and video calls to 3G phones, Sing Tel said.
        43 words
      • 53 9 SEMBCORP Logistics Ltd said it has completed the sale of its 20 per cent interest in Kuehne Nagel yesterday which was worth $1.3 billion. The consideration was received in cash. Details of the proposed special distribution of $1 billion will be announced at a later date,
        53 words
      • 90 9 MOBILEONE Ltd, Singapore's second-largest provider of cellphone services, said shareholders approved the company's plan to buy back and cancel about 7 per cent of shares to improve returns. Mobile One plans to buy back the shares at $1.57 each, or about $116 million in
        90 words
      • 66 9 CAPITALAND Limited said its indirect wholly owned subsidiary, Premas Investments Pte Ltd, yesterday entered into a joint venture agreement with Vipul Facility Management Private Limited, a company registered in New Delhi. The two companies set up Vipul Premas (India) Private Ltd, a limited liability
        66 words
    • 224 9  -  By KENNETH LIM CHINA-BASED FibreChem Technologies says it is further expanding its capacity as net profit for its fiscal third quarter increased 16.7 per cent to HK522.9 million (554.9 million). The textile fibre manufacturer's revenue jumped 75.3 per cent to HK5133.2 million
      224 words
    • 561 9  -  By JOYCE KOH OSIM International s expansion policy is on track as the company yesterday said its business performance for the year continues to be healthy. For the nine months ended Sept 30, its earnings grew 21 per cent to $20.9
      FILE PHOTO  -  561 words
    • 573 11  -  Potential plays are UOL, SIA, Parkway, Keppel Corp, SPH and OCBC By ANDREA TAN LOOKING for the next cash payout? Citigroup Smith Barney highlighted several potential candidates in a report yesterday. Following SembCorp Logistics' divestment of Kuehne Nagel International, which will return
      573 words
    • 316 11  -  By ANDREA TAN STOCKBROKER GK Goh Holdings yesterday emerged as the largest shareholder of Boardroom Ltd with an $18.9 million share buy. This raises its stake to 29.7 per cent —just a shade below the general offer level. GKGoh bought 41
      316 words
    • 359 11  -  By JOYCE KOH IN one of the largest listings by a foreign company, this year, Anwell Technologies yesterday launched its initial public offering of 235 million shares at 38 cents apiece for a mainboard listing on the local bourse. The IPO, which
      ARTHUR LEE  -  359 words
    • 345 11 Reuters STATS ChipPac Ltd, the world's third-largest microchip packaging firm, probably returned to the black in the third quarter, but its outlook is darkening as customers with unsold stockpiles cut orders. Conditions for Stats ChipPac, which tests and packages semiconductor
      Reuters  -  345 words
    • 391 11  -  By VINCE CHONG WEE Poh Holdings' restructuring plans may get derailed if three board candidates are voted in at the company's annual general meeting this Friday. The candidates Kenneth Ngo, Yeung Chun Keung and Jeffrey Piak are associated with Wee Poh founder
      391 words
    • 111 11 Reuters CHINA water treatment firm Bio-Treat Technology Ltd said yesterday that it had secured a RMB2BB million (5557.6 million) wastewater treatment plant order in Xianyang City, China. The Singapore-listed firm said the terms of the contract would see it build, own and operate (BOT) the plant
      Reuters  -  111 words

  • Page 7 Advertisements
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  • Page 9 Advertisements
    • 245 9 IWC. Official supplier to men. More than 70 years after its initial launch in tribute to the great seafaring nation of Portugal, the legendary Portuguese watch is now available in an elegant new edition: the appeal of the Portuguese Automatic lies in its mechanical movement, automatic Pellaton winding system, seven-day
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  • SINGAPORE MARKETS
    • 473 10  -  STOCKS Stocks weighed down by concerns of record spikes in oil prices; smaller stocks suffered more severe drubbing TEH HOOI LING Senior Correspondent WITH just one week to the end of October, numerous signs are suggesting that we will end the month in negative
      Source: Bloomberg  -  473 words
    • Article, Illustration
      935 10  -  Compiled by KENNETH LIM Singapore Petroleum Co Oct 25 dose: $3.86 DBS VICKERS RESEARCH, Oct 25 SPC reported an outstanding 3Q04 performance with revenue increasing 85 per cent year-on-year to $1.39 billion and net profits by 428 per cent year-on-year to $64 million. Robust product demand led to
      Source: Bloomberg  -  935 words
    • Article, Illustration
      428 10 OTHER SINGAPORE INDICES Oct 25 VALUE CLOSE BT OB/OS -585.00 -95.00 BT CADI -*****.00 -176.00 BT 10-day MA -*****.00 -59.00 All-SG Equities 509.76 -2.94 SG Equities Elect 155.49 -1 95 SG Equities Fin 1564.53 -8.91 SG Equities Prop 470.15 -7.69 SIMSCI 234.24 -1.63 SiMSCI Futures 233.80 -2 30 MOST ACTIVE
      428 words
    • 447 10 CURRENCIES Bloomberg [MUMBAI] India's rupee rose to a four-month high on optimism overseas funds will increase their investments in the country as higher company profits make local stocks attractive. The rupee rose for three of the past four weeks as companies including Infosys Technologies
      Bloomberg; BLOOMBERG  -  447 words
    • TRADES TO WATCH
      • 219 10 FORMER Citiraya Industries director Raymond Ng said he will make a general offer for Leong Hin Holdings after he agreed to buy up all of Leong Hin executive chairman Chan Peng Kheng's 19.568 per cent stake in an option agreement signed on Saturday
        219 words
      • 91 10 ACE Dynamics chairman and chief executive Steven Tham Weng Cheong saw his deemed stake increase to 8.66 per cent from 8.23 per cent on Friday last week after 600,000 shares were bought through UOB Kay Hian. The shares, bought on the open market, were purchased
        91 words
      • 102 10 Ultro CEO buys 500 000 shares in deal ULTRO Technologies chief executive Larry Lim Ee Chuan bought 500,000 shares at 12.5 cents apiece in a married deal on Oct 15. Mr Lim's direct stake in the electronic component distributor now stands at 16.01 per cent from 15.76 per cent. He
        102 words
      • 105 10  -  Compiled by KENNETH LIM SAN Teh executive chairman Kao Shin Ping bought 92,000 shares at about 39.4 cents each on the open market yesterday, raising his direct stake to 20.73 per cent from 20.7 per cent. He also has a deemed stake of
        105 words

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    • 84 11 Consistent 9-Month Performance Record turnover and record net profit for nine months 30 September 2004 Key Points: Broad-Based Group Revenue Growth +14% North Asia Revenue+l9%, Strong Growth In China's 32 Cities America/Africa/Europe/Middle East/Oceania Turnover +46%, Revenue Per Outlet Expanding Strongly 541 OSIM Outlets in 88 Cities Over 21 Countries Initiated
      84 words

  • SMALL CAPS
    • 664 12  -  As its growth is from costly acquisitions, investors need to be patient, says KENNETH LIM KENNETH LIM WITH an established presence in South Australia and the Northern Territory, casino operator Lasseters International Holdings is a safe bet on Australia's gaming market. But with
      664 words
    • 381 12  -  By TEH HOOI LING THERE were only nine gainers in our small-cap portfolio in the week to yesterday, compared with 16 losers. But the strength of the gains were such that not only did they more than make up for the losses, they also carried
      381 words
  • Page 12 Advertisements
    • 1262 12 I IT'TJ I Land I Keppel Land Limited Co Reg No: *****0001G I (Incorporated in the Republic of Singapore) 1. UNAUDITED RESULTS FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2004 The Directors of Keppel Land Limited announce the following unaudited results of the Group for the nine months ended 30
      1,262 words

  • SINGAPORE NEWS
    • 423 13  -  German tunnelling specialist plans $5m total investment By DANIEL BUENAS GERMAN-BASED Herrenknecht AG, a mechanical tunnelling specialist, has set up its Asia-Pacific headquarters here to target fastgrowing Asian markets and oversee its subsidiaries in the region. In addition to overseeing existing subsidiaries in
      FILE PHOTO  -  423 words
    • 264 13 THE consumer price index (CPI) rose 2 per cent in September from a year ago as prices for most items saw increases. Figures from the Department of Statistics (DOS) yesterday showed that food prices increased by 3.3 per cent year-on-year and compared with
      264 words
    • SINGAPORE ROUNDUP
      • 84 13 THE Singapore General Hospital will be leading a study next month with the aim of improving the survival rate of heart attack patients in hospitals. The study, which is supported by a $50,000 grant from the National Medical Research Council, will investigate the optimum level of
        84 words
      • 77 13 NORWAY'S King Harald V and Queen Sonja will make a state visit to Singapore at the invitation of President S R Nathan. The royal couple will meet President and Mrs Nathan, Prime Minister Lee Hsien Loong and Minister Mentor Lee Kuan Yew on Oct 28
        77 words
      • 59 13 THE Chinese Chamber Institute of Business is organising a two-day China Logistics Conference to provide insights into the country's logistics management environment. The conference will be held at the Grand Copthorne Waterfront Hotel on Nov 4-5 and is endorsed by the Singapore Chinese Chamber of Commerce
        59 words
      • 50 13 SENTOSA Leisure Group said it has acquired the rights to exhibit, with the option to purchase, a maritime treasure trove dating back to the Tang dynasty of China. The collection of some 60,000 pieces discovered in Indonesian waters will feature in an exhibition in mid-2005.
        50 words
    • 359 13  -  EDB initiative has the backing of 11 industry players By DANIEL BUENAS START-UPS and enterprises in wireless space now have a new platform to turn to for resources, funding and business networking opportunities, with the launch yesterday of Wireless Community, a collaboration
      359 words
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  • ECONOMY WATCH
    • 824 14 Longest drop since Dec 2000 due to oil surge and slowing US economy fears Bloomberg [TOKYO] The dollar had the longest drop against the euro since December 2000 after an increase in oil prices spurred concern that the US economy will slow and prompt overseas
      Bloomberg; BLOOMBERG FILE PHOTO  -  824 words
    • 264 14 Reuters [SEOUL] South Korean President Roh Moo-hyun said yesterday his government would do its best to achieve 5 per cent economic growth in 2005, although conceded that a longawaited recovery in consumption could be up to a year away. Mr Roh forecast in
      Reuters  -  264 words
    • 266 14 Reuters [MADRID] World growth in 2005 could be lower than the 4.3 per cent forecast by the International Monetary Fund a month ago because of high oil prices, IMF deputy managing director Agustin Carstens said yesterday. Last month, the IMF downgraded its
      Reuters  -  266 words
    • 652 14  -  Recent GDP data shows minimal slowdown and strong expansion in 2005 is expected By DIANA CHOYLEVA CHINA'S recent GDP release showed real output growth slowing to 9.1 per cent in the year to Q3, down from 9.6 per cent in Q2. This has led many to
      Source:  -  652 words
    • 236 14 Bloomberg [HONG KONG] Credit Suisse First Boston raised its forecast for China's economic growth this year after the nation reported gross domestic product grew 9.1 per cent from a year earlier in the third quarter. CSPB raised its full-year forecast to
      Bloomberg  -  236 words
    • 368 14 AFP [MANILA] Philippine President Gloria Arroyo yesterday said she was prepared to see her popularity nosedive as her government undertook economic reforms amid surghig inflation and rising power bills. "Under my watch. In the next six years, I will lead a struggle in which
      AFP; AP FILE PHOTO  -  368 words

  • MALAYSIA COMPANIES
    • 478 15 Alliance could drive sales for Proton and increase output at its plant in Perak Reuters. AFP [KUALA LUMPUR] Malaysia's top car maker, Proton Holdings Bhd, is expected to sign a deal this week to assemble cars for Volkswagen AG, a newspaper reported yesterday.
      Reuters.; AFP; FILE PHOTO  -  478 words
    • 4 15
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    • 421 15 Reuters [KUALA LUMPURI Malaysia's state-linked firms, which hold about a third of DRB-Hicom, may take control of the group if bidders seeking a stake cannot resolve their differences, a minister was quoted yesterday as saying. The sale of a 15.8 per cent stake in
      Reuters  -  421 words
    • 256 15 Reuters [KUALA LUMPUR] Malaysia's biggest power firm, Tenaga Nasional Bhd, is expected to report tomorrow that its quarterly profit quadrupled as it saw firm electricity demand and reversed previous charges for medical benefits. Profits are expected to rise a further 23 per cent to
      Reuters  -  256 words
    • 422 15 It wants 30% of market by 2007 with better economy Bernama [KUALA LUMPURI Maybank expects to account for a larger share of the local trade finance market, rising to 30 per cent in 2007 from 25 per cent at present, as a result of
      Bernama  -  422 words
    • 262 15 Bernama [KUALA LUMPUR] Property developer WCT Land Bhd, enroute to a listing on the main board of Bursa Malaysia, expects to achieve a group revenue and pre-tax profit of about RM3O2 million (Ssl32 million) and RM66 million respectively for the
      Bernama  -  262 words
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  • MALAYSIA/INDONESIA
    • 729 16  -  INDONESIAN INSIGHT Islamic extremists threaten to tarnish Indonesia's image as a tolerant society. The new president must tackle them decisively SHOEB KAGDA Jakarta Correspondent Barely three days into his presidency, Susilo Bambang Yudhoyono may be facing his first real test. Late last Friday night, a mob
      729 words
    • 72 16 [KUALA LUMPUR] Waitresses stand next to a local newspaper billboard featuring Manchester United's Wayne Rooney and Arsenal's Thierry Henry on display at a pub in Kuala Lumpur on Sunday to attract customers. A pub sold out hundreds of seats for a live viewing of the biggest English
      AP  -  72 words
    • 447 16 Bloomberg [JAKARTA] PT Bank Mandiri, Indonesia's largest lender, and local rivals probably increased profit in the third quarter on accelerating economic growth and the promise of political stability after peaceful elections. Indonesia's government expects the economy to expand 5.4 per cent
      Bloomberg  -  447 words
    • 329 16 Winner of 30-year concession will distribute water to the Klang Valley area Reuters [KUALA LUMPUR] Malaysia will approve a multi-billion dollar water-privatisation deal in the next three weeks, a government minister said yesterday. But he declined to say if early favourite Puncak Niaga Holdings would
      Reuters  -  329 words
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  • GREATER CHINA/INDIA
    • 516 17 Lawsuit follows law aimed at loosening bureaucrats' grip over economy [BEIJING] A private Chinese company has launched a landmark lawsuit against the powerful Ministry of Information Industry over its policy of restricting access to the mobile phone market, the Financial Times reported
      516 words
    • 405 17 Reuters [BOMBAY] A sharp rise in gold prices has hit bullion trading in India, the world's largest consumer of the yellow metal, and is prompting consumers to sell old stocks to take advantage of the situation, traders said yesterday. Gold traders are
      Reuters  -  405 words
    • Article, Illustration
      37 17 [ZHUHAI] Cai Bingyu, left, winner of the China final for the Model of the World2oo4. performs during the contest in Zhuhai International Convention Centre in Zhuhai. in south China's Guangdong province over the weekend. AP
      AP  -  37 words
    • 571 17 Subscriber number seen growing by 110m next 3 years AFP [NEW DELHI] Mobile phone users have outstripped traditional landline connections in India, according to the industry, marking a major lifestyle and communications milestone for the rapidly changing country. A survey conducted by India's leading
      AFP; AfP  -  571 words
    • 284 17 AFP [HONG KONG] Chinese leaders have held several meetings in the past few weeks to discuss revaluing the yuan but have decided not to tinker with the system in the short term, a press report said yesterday. Citing unnamed sources,
      AFP  -  284 words
    • 408 17 Investible amount of 46b yuan a boost to local bourses Bloomberq [BEIJING] China Life Insurance Co, Ping An Insurance Co and other Chinese insurers will be allowed to invest as much as 5 per cent of their total assets directly in the domestic
      Bloomberq  -  408 words
    • 313 17 Bloomberg [TAIPEI] Golden Harvest Entertainment (Holdings) Co, the movie studio that gave Bruce Lee his start, said it and two partners will buy a cinema chain in Taiwan from Time Warner Inc and Village Roadshow Ltd for US$3B million. Golden Harvest stock surged. Golden Harvest
      Bloomberg  -  313 words

  • ASIA-PACIFIC/WORLD
    • 502 18 CEO Charles Prince says sorry while bank rules out full withdrawal Reuters. Bloomberg [TOKYO] Citigroup Inc said yesterday it would close its trust banking unit in Japan, Cititrust and Banking Corp, in a year as part of a review of its Japanese operations, but
      Reuters.; Bloomberg  -  502 words
    • 317 18 Bloomberg [LONDON] European banks are risking losses because many aren't lending to a sufficiently wide range of companies, Standard Poor's (S&P) said in a report. The top 100 lenders in Europe have on average made loans of 8 per cent of their equity to
      Bloomberg  -  317 words
    • 700 18 The threat of indictment pushes the firm to rethink its legal strategies [NEW YORK] JEFFREY Greenberg will almost certainly be gone. But his company, Marsh McLennan, has a good chance of surviving as long as its outside directors understand that Mr Greenberg's resignation is not
      700 words
    • 40 18 [BANGKOK] A Thai model is dressed up with vegetables during a ceremony for the vegetarianfestival in Bangkok last week. Thai Prime Minister Thaksin Shinawatra and government officials are encouraging Thais to be healthy by eating more vegetables. AP
      AP  -  40 words
    • 335 18 Compliance will hit competitive edge: business group Reuters [LONDON] A wave of regulation is burdening Britain's financial services industry and threatening its ability to compete internationally, the UK's biggest business group said in a report yesterday. In the next two years,
      Reuters  -  335 words
    • NOTE BOOK
      • 94 18 AFP [HONG KONG] China plans to restructure its biggest oil producer PetroChina and its parent China National Petroleum Group (CNPC) in a bid to create an oil giant capable of competing on the global stage, a press report said yesterday. PetroChina, whose shares are
        AFP  -  94 words
      • 134 18 AP [SHANGHAI] China's population, now the world s largest at 1.3 billion, will peak at just under 1.5 billion in about 30 years, the country's head of population planning was quoted yesterday as saying. "The nation's population will still increase by
        AP  -  134 words
      • 193 18 Bloomberg [MUMBAI] Reliance Industries Ltd, which owns the world s third-biggest oil refinery, posted a better-than-expected 39 per cent rise in second-quarter profit as India's expanding economy stoked demand for fuels and chemicals. Net income rose to 17.52 billion rupees (*****.2
        Bloomberg  -  193 words
      • 121 18 Reuters [JAKARTA] South-east Asia's largest economy was not expected to have excessive inflationary pressure the rest of the year despite the festive seasons and a higher oil price, a senior central bank official said yesterday. "The inflationary pressure towards the end of
        Reuters  -  121 words
      • 130 18 Reuters [MUMBAI] India's largest commercial bank, the State Bank of India, plans to issue around US$l billion in medium-term notes to fund its overseas operations, the Economic Times said yesterday. Its chairman A K Purwar said the entire amount may not
        Reuters  -  130 words
  • Page 18 Advertisements
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      85 words

  • WORLD
    • 564 19 Oversight of the US$900b industry likely with a 3-2 vote to okay move [NEW YORK] The Securities and Exchange Commission will vote today on its proposal to force hedge fund managers to register with it, in effect placing the rapidly growing US$9OO
      AP  -  564 words
    • 477 19 Move follows US repeal of export tax subsidy Bloomberg [BRUSSELS] The European Union will end sanctions on US imports after President George W Bush signed a law replacing an illegal export tax subsidy, and warned the US not to extend the
      Bloomberg  -  477 words
    • 375 19 [LONDON] Investors will this week look for signs of intensifying exploration and development activity as the world's five largest oil and gas companies report what analysts expect to be near-record quarterly earnings of close to US$2O billion, says a Financial Times report. The paper said
      375 words
    • 177 19 Reuters [AMSTERDAM] Ispat International will buy LNM Holdings and International Steel Group Inc. forming the world's largest steel firm in a deal worth a total of US$l7.B billion, the company said yesterday. Ispat said in a statement it would issue US$l3.3 billion
      Reuters  -  177 words
    • 507 19 AFP [WASHINGTON] Eight months, three debates, hundreds of speeches and hundreds of thousands of television ads after it all began, the US presidential race may hinge simply on which side gets out the vote on Nov 2. With President George W Bush and
      AFP  -  507 words
    • WORLD WATCH
      • 75 19 AFP [LONDON] The BBC, the world's biggest public broadcaster, is to cut almost a quarter of its 28,000-strong workforce, in the biggest shake-up in its 82-year history, The Times said yesterday. The daily said that news gathering and production operations at
        AFP  -  75 words
      • 77 19 Reuters [LONDON] UK football club Manchester United said yesterday it had ended talks with US sports tycoon Malcolm Glazer, saying it did not support the capital structure of Mr Glazer's potential offer for the club. "The board has decided to inform all shareholders that it
        Reuters  -  77 words
      • 49 19 Reuters [NEW YORK] Reynolds American Inc, the maker of Camel and Kool cigarettes, yesterday posted a profit in its first quarter as a combined company and raised its expectations for its full-year performance. Net income for Q3 was US$339 million, or U552.66 per share.
        Reuters  -  49 words
      • 61 19 Reuters [SEOUL] Third-quarter profits at Hynix Semiconductor Inc nearly quadrupled from a year ago on robust demand, but dropped from the previous quarter due to falling prices. Hynix earned 530 billion won (Ss7B7 million) in net profit in Q3 ended Sept 30,
        Reuters  -  61 words
      • 95 19 Bloomberg [ATLANTA] Craig Barrett, Intel Corp's 6-foot-3-inch chief executive, walked onto a stage during an industry conference in Florida last week, got down on his knees in front of more than 6,000 technology managers, and begged forgiveness. "We ate crow," Mr Barrett told the crowd as
        Bloomberg  -  95 words
  • Page 19 Advertisements
    • 90 19 C Fancy operating an island resort, an eco-farm or a golf club in Thailand Avail, for LONG LEASE fr 125,000 Ss/year up to 90 yrs Charming island Resort/Dive centre facing Andaman sea or 100 acres Eco-farm Resort aloe vera plantation factory *or Min !70 acres of land for 18 hole
      90 words

  • AVIATION
    • 56 20 [MOJ AVE, California] The Virgin Atlantic Global Flyer (right), piloted by American adventurer Steve Fossett (above), is seen during a test flight over the town of Mojave. California, on Thursday. Mr Fossett will try to become the first person to pilot a plane around the world
      AP  -  56 words
    • 620 20 NTSB set to rule on cause of second worst air disaster in US history Reuters [WASHINGTON] The nasty fight between American Airlines and Europe's Airbus over a New York crash in 2001 that killed 265k people has escalated as the US
      Reuters  -  620 words
    • 237 20 [SINGAPORE] United States-based logistics company BAX Global will become the largest occupant of Singapore's Airport Logistics Park when its $48 million megahub opens at the end of next year. The new 400,000 sq ft complex will bring BAX Global's total warehousing capacity here to 1.2
      237 words
    • 460 20 Bloomberg [BANGKOK] Orient Thai Airlines Co, which operates Thailand's largest discount carrier, may spend as much as US$lOO million to start a low-cost service based in Hong Kong to tap rising air traffic between the city and China. Orient Thai, which operates
      Bloomberg  -  460 words
    • 390 20 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
    • 341 20 Reuters [WASHINGTON] Airbus may not seek new European government loans that have been the focus of intense US criticism if it decides to develop an aircraft to compete with Boeing's latest model, the head of Airbus company parent EADS said. "We've made
      Reuters  -  341 words

  • SHIPPING
    • 356 21 Bloomberg [LONDON] Oil tanker rates for shipping crude from the Middle East reached a record high for a fourth week as refiners boosted fuel imports ahead of the northern hemisphere winter amid soaring oil prices. "The sky is the limit in this
      Bloomberg  -  356 words
    • 287 21 SGX '000 Oct 25 St Vol CH Offshore 0.40 -0.01 2039 ChuanHup 0.67 -0.01 2199 Cosco Investment 1.04 -0.02 2762 CWT Distribution 0.56 unch 163 Ezra Hldgs 1.15 -0.05 425 Freight Unks 0.10 undi 568 Grand Banks Yacht 0.83 -0.01 8 Jaya Holdings 1.04 0.01 703 K1 Venture
      287 words
    • 723 21  -  Ship operator studying methods to clear wreck from Singapore Strait By DONALD URQUHART [SINGAPORE] Indonesia is mounting pressure on ship operator Eukor Car Carriers Inc to remove the wreck of the Hyundai No 105 car carrier that sank in May this year
      FILE PHOTO  -  723 words
    • 617 21 Bloomberg [SINGAPORE] Crude oil rose to a record in New York on concern production in Norway, the world's third-biggest exporter, may be halted by a shipowners' strike, reducing supply as demand from China is increasing. The Norwegian Shipowners' Association said
      Bloomberg; AFP FILE PHOTO  -  617 words
    • 396 21 Reuters [HONG KONG] China Shipping Development Co Ltd, the mainland's secondlargest shipping company, boosted third-quarter profit 64 per cent and is expected to see an even stronger fourth quarter thanks to record oil freight rates. The government-backed oil and bulk carrier said yesterday its
      Reuters  -  396 words
    • 484 21 Reuters [TOKYO] Japan and its allies prepared yesterday for a naval exercise that is part of a US-led initiative to halt the spread of weapons of mass destruction as communist North Korea denounced the drill as provocative. Naval officers
      Reuters  -  484 words

  • EDITORIAL & OPINION
    • 519 22 EDITORIAL EVER since her convincing election triumph in the May presidential elections, Philippines president Gloria Arroyo has been fighting a dogged battle to convince sceptics her government can deliver on economic promises. It was no surprise, therefore, that her bold economic plan unveiled last week setting
      519 words
    • 1245 22  -  Oddly, the US is perhaps the only nation in the world that permits electoral administration to be biased CHRISTOPHER REED THE former US president Jimmy Carter has travelled worldwide as a respected observer of overseas elections. A trip in July was to Indonesia when he pronounced
      REUTERS  -  1,245 words
    • 756 22  -  THE BOTTOM LINE SHADA ISLAM Brussels Correspondent INCOMING European Commission president Jose Manuel Barroso faces a tough week ahead as he struggles to convince a largely sceptical European Union Parliament to vote in favour of his team despite continuing outrage at Italian
      756 words
    • 1071 23  -  Changes which favoured patent holders have caused a deterioration in the quality of patents By HAL R VARIAN NYT FEELING hungry? How about a peanut butter and jelly sandwich? But be careful how you make it. You don't want to infringe on US Patent No
      NYT; FILE PHOTO; AFP  -  1,071 words
    • 387 23  -  LETTERS TO THE EDITOR Tan Bien Chuan Managing director OWWS Limited Hong Kong I REFER to the article, "Onus on firms to show directors' pay process: Lim Hng Kiang" (BT, Oct 19). Trade and Industry Minister Lim Hng Kiang noted that "the onus
      387 words
    • 277 23  -  Eric Rosenkranz Chief Executive Officer Strategic Thinking Group THE commentary "A Broken Democracy" by Christopher Reed (Oct 12, Editorial Opinion) referring to the US contains so many mistaken "facts" and downright errors that it would take an essay to combat them all. I am focusing
      277 words
    • 144 23  -  Tung Kum Hon Executive Director and Chief Financial Officer Shanghai Asia Holdings Limited I REFER to the letter "Make results of new companies available" (BT, Oct 22). At Shanghai Asia, we are firm believers of good corporate governance. Our board of directors and senior management
      144 words

  • Page 23 Advertisements
    • 101 23 HAVEYOURSAY Fax your letters to 6319-8277 or email them to btletter9sph.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 laws. We
      101 words
  • Page 23 Miscellaneous
    • 197 23 CRYPTIC CROSSWORD 21 Old flame swore: "Not right, be--31 Hated exam action circumvent it (8) 11 Generous policeman promises Die stave (4; i r, 3 ctu inwt left on l?u W !J u YESTERDAY'S SOLUTION 1 Pulveriser of nasty msec ien on Chap Douglas provides home back of house (6)
      197 words

  • 3434 24 STRAITS TIMES INDEX STOCKS Stodnmne Wt Pom Oungt Mock Wt Oo«t Cfc—» Allgreen 50c 0.29 1.010 -0.030 NOL 2.17 2.950 -0.020 BIL Intl U520c 0.47 0.980 -0.005 OCBC 10.51 13.500 -0.100 CaprtaLand 1.27 1.840 -0 020 Parkway H 25c 0.69 1.440 -0.020 Chart SemiCond 26c 082 1.050 -0
    3,434 words

  • 2747 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES hi toed cm ksj inusj *dy **r %y *<» Oct 22 Indw Oungi Omm Oxng* Om»» Own« Oianp* Into Miming 789.4 -01 1.4 -03 -0.1 QO 1.7 tEAttftthwnart 729.6 01 4.0 -0.1 3-8 0.2 46 Europe 1003.7 00 3.7 -01 2.9 0.1 4.7
    2,747 words

  • Page 26 Advertisements
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      1,009 words
    • 809 26 mmuMA»Q*ou*na vissa/vor hightctb m «n 10 sw if STMmVtKTWE/14 IS 12 It/10 31/10 04/11 07/11 Of/11 siunsvßmiK/is is m 12/11 14/11 11/n 21/11 23/11 smiTsyßcruK/n I is I 12 25/11 vi_ 11 02/12 os/12 07/12 ¥WMT A<U/l«NOAltOtO >V» VKSa/VOT I Mfgl) I HB6HTW) YOK KK MW I SOI H6 CT
      809 words

  • Page 27 Advertisements
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      797 words
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    • 901 27 asa&&«' WEEKLY EXPRESS SAIUNG SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AMD WESTERN ICQ POINTS! VPSa VQT «N PJOAN6 Icotowo In SWVA COIOWO I Mftrawm masi i»oq moo aocr 2toa won I INDHU GANDHI 00I7W 25 OCT 27 OCT 30 OCT 02 NOV OS NOV I ***** 1 I also acopim
      901 words

  • Page 28 Advertisements
    • 1203 28 UtftllF WALLENIUS WILHELMSEN I WWW W website: http://www.2wglobol.tom TAUtO AM2I 4701 ms 6.4 M I 31/10 1 24/11 03/12 10/12 U/12 15/12 13/12 17/12 07/12 TALISMAN AF422 3201 MM 6.3 M I 14/11 I 20/12 27/12 21/12 02/01 31/12 04/01 24/12 TARONGA AF423 3201 MS 6.25 M I 30/11 25/12
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    • 466 28 BSA i. MYANMA n FIVE STAR UNE (My amor NatiMdl Um) Loadiog for Y ***** vissa voy sin pki pin pgu MMN 336W 03/11 HPA-AN 326W SID IN MALAYSIA: IOUSTEAD SHIPPING AGENCIES KUL 03-*****300 PKL 03-*****101 PIN: 04-*****02 jimmi ACCEPTIMQ COMVEiTIOWAL COO KG SM HKG SM PGU PU KIK OCEANIA
      466 words


  • SINGAPORE FOCUS: INDUSTRIES
    • 1873 30  -  While the sector's output is likely to top $12b this year, one year ahead of schedule, the industry faces a dearth of private venture capital. And financial support is crucial as S'pore shifts its focus to nurturing a robust R&D growth engine. CHEN HUIFEN reports CHEN HUIFEN
      BLOOMBERG NEWS  -  1,873 words
  • Page 30 Advertisements
    • 485 30 JTC Corporation is inviting companies to submit proposals for the development of Kranji No Frills Factories. Through this project, JTC aims to provide customers with a lower cost facility with more emphasis on functionality. The successful company will be allocated an identified site at the Corporation's prevailing posted rate for
      485 words
    • 340 30 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF KALLANG AUTO CENTRE PTE LTD (Incorporated in the Republic of Singapore) (In members' voluntary winding-up) Company Registration No. *****3879 D At an extraordinary general meeting of Kallang Auto Centre Pte Ltd duly convened and held at
      340 words
    • 287 30 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF DESIGN IN ACTION (SINGAPORE) PTE LTD (IN CREDITORS' VOLUNTARY LIQUIDATION) NOTICE IS HEREBY GIVEN thai pursuant to Section 296 of the Companies Act. Cap. 50. a meeting of the creditors of the above named company will
      287 words

  • PROPERTY
    • 1960 31  -  Few people realise it but you can turn loan repayments for the purchase of an overseas properly into investments. BARRY LEA elaborates BARRY LEA THE traditional approach to financing the purchase of a residential property in the United Kingdom is to borrow from a bank or
      BLOOMBERG  -  1,960 words
    • 154 31 Bloomberg [SHANGHAI] China's property prices in the first nine months rose 13 per cent, a pace close to the fastest in eight years, the National Bureau of Statistics said. Prices for homes, offices and other commercial real estate rose to an average 2,777 yuan
      Bloomberg; REUTERS  -  154 words
    • 170 31 Reuters [HONG KONG] New housing mortgage loans approved by Hong Kong's major lenders rose 7.4 per cent in September from August to HK$l2.5 billion (552.7 billion), the Hong Kong Monetary Authority (HKMA) said in a statement. New mortgage loans drawn down during September
      Reuters  -  170 words
    • 673 32  -  But Singaporean buyers prefer to cash out than invest further, reports VINCE CHONG VINCE CHONG THE average price of Melbourne city apartments may have come down as much as 20 per cent in the past one to two years, but players believe it has
      AFP  -  673 words
    • 504 32  -  S&P rating can help Republic become hub, says Stanchart By SIOW LI SEN SINGAPORE'S small economy makes its harder for securitisation of assets other than property to take off but it can aim to be a hub for securitisation given its triple
      504 words
    • 335 32  -  By KALPANA RASHIWALA A SUCCESSFUL application has been made for an industrial site under the Government Land Sales (GLS) programme. The unnamed successful applicant for the 1.08-hectare reserve list site at Lower Delta Road has undertaken to offer a minimum price
      335 words

  • Page 32 Advertisements
    • 161 32 CONSERVATION SHOPHOUSES F^^^BVnNDER. ■IHi j£ ■ÜBH ig& M|m| «wwir] 999-yeaf leasehold TelokAyerStnearßoonTatSt X s 4-storey shophouses Commercial Zoning Near Raffles Place MRT Lift serving every floor zy /y Recently repainted \V/ Ideal for owner occupation Jy Jy or investment /r Concrete Upper Flooring Options Address land Area GFA A 101
      161 words
    • 228 32 V Prime Suburban Condominium 1% i Site at Palm Grove Ave j SUBJECT 999 years with effect from 2/12/1878 I te area M Residential, plot ratio 1.4 (up to 5/sty) Possible development: Cluster Housing/ Condominium development 8 Located in an established and sought after residential locality Serangoon Walking distance to
      228 words
    • 173 32 FACTORIES IN JOO KOON VICINITY FOR SALE 2 units of JTC standard semi-detached factory with mezz office Tenure: 30 years wef 1978 Land Area: Approx. 118,000 sq ft GFA: Approx. 67,600 sq ft A single-storey purpose-built factory/warehouse cum office Tenure: 30 +30 years wef 1981 Land Area: Approx. 137,000 sq
      173 words