The Business Times, 29 October 2004

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Total Pages: 34
1 34 The Business Times
  • 15 1 THE BUSINESS TIMES MITA (P) 023/03/2004 Friday, October 29.2004 S9JGAFORE 85 cents online at http-iAwsiness-tfme&asialxonug
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  • 833 1  -  SIA Engineering and SATS also post robust earnings By VEN SREENIVASAN [SINGAPORE] Singapore Airlines surprised the market yesterday with a better-than-expected first-half profit of $616 million thanks largely to a combination of astute fuel hedging and careful yield management. This
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  • 738 1  -  BT exclusive International oil traders are looking to set up major storage facilities here By RONNIE LIM [SINGAPORE] International oil traders are looking at setting up major storage facilities here to better cash in on the island's booming oil trading hub status. The industry
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  • 136 1 Dsn 1,988.05 (+29.00) ST INDEX FUTURES 1,990.00 (+30.00) siMsa 239.12 (+4.10) SIMSa FUTURES 239.60 (+4.30) MARKETS Thursday Change KLSECOMP 852.99 +1.82 NIKKEI 225 10.853.12 +161.17 HANG SENG 13.113.15 +274.44 SET INDEX 621.57 -5-Z8 JAKARTA COMP 862.12 +12.94 MANILA COMP 1.807.49 +33.15 SEOUL COMP 833.54 +23.63 SHENZHEN 8 232.16
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  • 48 1 TOP STORIES ...PG 2,4 COMPANIES PG 5,6,9 MARKETS PG 8 SINGAPORE PG 10 ECONOMY PG 12 MALAYSIA PG 13 INDONESIA PG 13 CHINA PG14 INDIA PG14 ASIA-PACIFIC.. PG 15 WORLD PG 15 AVIATION PG 16 SHIPPING PG 17 EDITORIAL ..PG 18,19 STOCKS PG 20,21 LIFESTYLE ...PG 27-34
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  • Page 1 Advertisements

  • TOP STORIES
    • 601 2  -  Jump in volume of surrenders raised suspicions of churning: LIA By GENEVIEVE CUA [SINGAPORE] CPF savers redeemed more than 77,000 investment-linked policies over three quarters between 2003 and 2004, says the Life Insurance Association, raising suspicions of unnecessary churning. In
      Source: UA  -  601 words
    • 248 2  -  By SIOW LI SEN [SINGAPORE] The government has taken another step towards providing an independent one-stop shop for consumers to resolve disputes with banks, insurers, securities firms and financial advisers. The Monetary Authority of Singapore (MAS) said yesterday it has published a
      248 words
    • 161 2 IN yesterday's article. "URA posts first deficit since 1985 for FY 2003/04", we said the figures came from the Urban Redevelopment Authority's first published annual report. This is incorrect. The statutory board has always published the document on a regular basis. The article also said non-operating income rose to
      161 words
    • 359 2  -  CPF members have $14b of funds invested in policies By ANDREA TAN (SINGAPORE] Insurance policies continued their reign over equities, the latest Central Provident Fund (CPF) quarterly figures show. Singaporeans invested $14.84 billion of their CPF Investment Scheme-Ordi-nary Account (CPFIS-OA) in insurance policies as at
      359 words
    • 783 2 Stats-ChipPac posts Q3 loss of USs7.44m RISING inventories and falling demand for semicon chips may have claimed another victim. Singaporebased Stats-ChipPac yesterday reported a third-quarter loss of U557.44 million and said it expects a weaker Q4 before the market starts getting better. However, it said the Q3 loss
      783 words
    • 532 4  -  Proceeds to help finance Premier League club's new £360m stadium By VINCE CHONG [SINGAPORE] English soccer club Arsenal is selling homes in central London to help finance its new £360 million (Ssl.l billion) stadium and Singapore is one of two Asian cities where the
      532 words
    • 376 4 [KUALA LUMPUR] The 58-year-old Far Eastern Economic Review one of Asia's most respected voices has ceased publication after having lost money for the past six years. The current issue, cover dated Nov 4, will be the last
      376 words
    • 520 4  -  By CHUANG PECK MING [SINGAPORE] The world's biggest producer of harddisk drives doesn't think the industry in which Singapore has a huge stake is riding into the sunset. Sunny days still lie ahead, as an explosion of applications in consumer electronics sparks
      FILE PHOTO  -  520 words
  • Page 2 Advertisements
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  • Page 3 Advertisements
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  • Page 4 Advertisements
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    • 164 4 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF OH CHIN KIAT AND COMPANY PTE LTD (in Members' Voluntary Liquidation) NOTICE IS HEREBY GIVEN that the creditors of the abovenamed Company, which is being wound up voluntarily, are required on or before the 11" of
      164 words

  • Page 5 Advertisements
    • 122 5 CFA Institute, in partnership with the Wealth Management Institute, invites you to join us for the Global Investors Workshop Asia Over the course of the interactive workshop you will gain important insights, interact with leading industry practitioners and obtain hands-on experience from INSEAD faculty.Topics include hedge fund management, venture capital,
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  • COMPANY NEWS
    • 576 5  -  It cites merger costs, rising inventories and falling demand By RAJU CHELLAM RISING inventories and falling demand for semicon chips may have claimed another victim. Singaporebased Stats-ChipPac yesterday reported a third-quar-ter loss of U557.44 million and said it expects a weaker Q4 before the
      Source: Bloomberg; FILE PHOTO  -  576 words
    • 531 5  -  HOCK LOCK SIEW By RAJU CHELLAM THE first signs of an impending fever in semiconland came in mid-July when three fund majors Merrill Lynch, Goldman Sachs and BNP Paribas downgraded their outlook for semicon stocks. That prognosis did not go well with
      531 words
    • 569 6  -  Investment loss of US$1.2m, against gain of US$24m in previous Q1 By ROLAND LIM AS it posted an 84 per cent year-on-year fall in net profit to US$4.B million for its first quarter, main-board-listed Creative Technology yesterday also said it has suspended its
      Source: Bloomberg; FILE PHOTO  -  569 words
    • 501 6  -  By WONG WEI KONG HELPED by new contracts, earnings for Accord Customer Care Solutions (ACCS), a provider of after-market services (AMS) for mobile communications and high-tech consumer products in the region, more than doubled for the third quarter. Net profit for
      501 words
    • 464 6  -  $52m tax write-back from overprovisions helps boost gains By SAMUEL EE A $52.1 million tax writeback, offset partially by goodwill impairment losses of $21.4 million, helped lift SMRT Corp's net profit for the second quarter by 182 per cent to $61.2 million.
      464 words
    • 4047 6 UNIT TRUSTS FUNDS Shenton Income 1475/1.519 Shenton lncome(USD) 0 887/0913 ■■M ic 1 .i j Shenton Asm Pscft! 0 795/0.827 SwEurooeE«v?- 0 734/ Shenton Gb Opportunities/" 0.6440.67 12?i Shenton Dynamic Bond/* 1380 421 *7 Shenton Greater China 1.097/1 141 S iSKiSS; n Mendaki Global" 0.667/0.687 £22f*2T W ?S Shenton Global
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    • 434 9  -  But profit up 16% if previous period's exceptional gain excluded By KALPANA RASHIWALA IN the absence of exceptional gains in the same year-ago periods related mostly to the divestment of Raffles Brown's Hotel in London, Raffles Holdings yesterday posted a 7 per cent
      434 words
    • 322 9  -  By JOYCE KOH MAINBOARD-LISTED Miyoshi Precision Ltd's expansion activities in the region are beginning to bear fruit as earnings and revenue surged for the full year ended August. The company, which designs precision tools and dies and makes stamped precision components, said FY2004
      322 words
    • COMPANY BRIEFS
      • 86 9 Bloomberg DBS Group and United Overseas Bank will probably say today that third-quarter profit rose as bank loans swelled to a record and the island's economy rebounded from a virus outbreak. DBS may say net income rose 28 per cent to $373
        Bloomberg  -  86 words
      • 120 9 Bloomberg PT BANK Buana Indonesia, partly owned by United Overseas Bank Ltd, said profit in the first nine months of the year rose two-fifths, helped by lower interest costs. Unaudited net income rose to 305 billion rupiah (S$55.8 million), or 61 rupiah a share,
        Bloomberg  -  120 words
      • 117 9 Bloomberg CAPITALAND Ltd, South-east Asia's biggest developer by sales, may say third-quarter profit was little changed from a year earlier as gains from the sale of two malls helped cushion a loss in rents from assets sold earlier. Net profit probably fell 3
        Bloomberg  -  117 words
      • 92 9 CITIRAYA Industries posted 84 per cent jump in net profit for the third quarter ended Sept 30, 2004, to $8.6 million. This is on the back of a 44 per cent rise in turnover from $33.2 million to $47.8 million, thanks to new contracts secured
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      • 30 9 MAINBOARD-LISTED Japan Land said Tetsuo Yamashita has stepped down as executive chairman. His responsibilities will be assumed by recently appointed chief executive officer Mitsutoshi Ono.
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      • 85 9 COCOA ingredient supplier Petra Foods is raising $91.2 million in net proceeds through an initial public offering of 178.5 million shares at 88 cents each, the third largest IPO this year. The IPO, which has 5 million shares set aside for the
        85 words
    • 465 9  -  By KENNETH LIM MMI Holdings said it is done with laying the costly groundwork for its nonhard disk drive businesses, which helped drive net profit up 25 per cent in its first financial quarter. The components maker is now hoping to reap
      465 words
    • 280 9  - Unisteel buys 51 of optics firm Valen By VINCE CHONG MAINBOARD-listed Unisteel Technology has bought a 51 per cent stake in local optics and optoelectronics player Valen for almost $12.9 million as it signals its intention to move into the mobile phone industry. Some $4.5 million of the investment will
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  • Page 7 Advertisements
    • 464 7 HT liiloi" n LIMITED in H jsf, *f -"^KliiTi r f i*iU Petra Foods Limited and its subsidiaries (the "Group") is one of the world's major manufacturers and suppliers of cocoa ingredients, namely cocoa powder, cocoa butter and cocoa liquor. The Group HI produces cocoa ingredients in six countries and
      464 words

  • SINGAPORE MARKETS
    • 519 8  -  STOCKS If oil continues to retreat, stocks could continue to benefit, at least for the near-term R SIVANITHY Senior Correspondent A sharp fall in oil prices brought instant relief to battered stocks yesterday, enabling the Straits Times Index to bounce 29 points
      Source: Bloomberg  -  519 words
    • Article, Illustration
      914 8  -  Compiled by KENNETH LIM Creative Technology Oct 28 dose: $19.30 KtMENG RESEARCH. Oct 28 **.X < CREATIVE'S fiscal Q1 results were our expectation. Sales cenfipwter-qn-quarter «**PtJ6s2lo million due to seasonal pick-up in the sound-card segment Though net profit of USS4.S million was lower than our forecast of US$6
      Source: Bloomberg  -  914 words
    • 527 8  -  CURRENCIES LARRY WEE Senior Correspondent FOR the second day in a row, Asian units outperformed other major currencies against the US dollar in Asian trading yesterday, with the Korean won scoring a fresh overnight high of 1,123 per US dollar a level
      Source: Reuters  -  527 words
    • TRADES TO WATCH
      • 141 8 BOARDROOM joint managing director and finance director Sebastian Tan Cher Liang slashed his stake to just 0.45 per cent from 1.49 per cent on Wednesday through an open-market sale. Mr Tan, who has been with the corporate services provider's subsidiaries since 1992, sold 1.5
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      • 83 8 BROADWAY Industrial Group executive director Ng Ah Hoy has sold all his 10,000 directly owned shares on the open market at about 47 cents apiece. The sale of those shares, which represent about 0.01 per cent of the company's share capital, leaves Mr Ng with
        83 words
      • 58 8 CHEUNG Woh Technologies executive director Teo Poh Hong bought 298,000 shares on the open market on Tuesday last week at an average price of about 31 cents apiece: Shares of Cheung Woh, a manufacturer of hard-disk drive components, edged up half a cent or 1.6
        58 words
      • 87 8 FDS Networks Group vice president Yip Man Yiu sold 200,000 shares on Wednesday, paring the executive director's shareholding to 11.13 per cent from 11.4 per cent. The shares were sold on the open market at about nine cents each. FDS is a Hong Kong-based network systems
        87 words
      • 115 8  -  Compiled by KENNETH LIM INTEGRA2OOO chairman, chief executive and managing director Kwok Kah Kie bought 60,000 shares on Wednesday at 18.75 cents each on the open market, raising his direct and deemed stake to 13.37 per cent from 13.32 per cent. He also bought
        115 words
    • Article, Illustration
      415 8 OTHER SINGAPORE INDICES Oct 28 VALUE CLOSE BT OB/OS -114.00 +258.00 BTCADI -*****.00 +104.00 BT 10-day MA -*****.00 -11 00 All-SG Equities 518.22 +6.71 SG Equities Elect 155.68 +1-99 SG Equities Fin 1601.88 +31 34 SG Equities Prop 477.86 +2.41 SIMSCI 239.12 +4.10 SiMSCI Futures 239.60 +4 30 MOST ACTIVE
      415 words

  • Page 9 Advertisements
    • 40 9 Pr Clean rooms of all classes for the semiconductor 456 Alexandra Road 15-00 NOL Building Singapore *****2 ■LM-i.M.i Tel: 6222 0665 Fa*: 6224 8358 Email: hpcsgrnhi tachlptant.com.sg cw«t no kwk Website at http://www.hßachiplant.hW.ne.jp 0 Hitachi Plant Engineering 8 Construction Co^LHL
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  • SINGAPORE NEWS
    • 395 10  -  Hub will integrate bill payments systems for public and private sector By CHEN HUIFEN THE Singapore government yesterday announced that it is developing a national electronic bills payment hub as part of a bigger goal to involve the private sector and individuals in its
      FILE PHOTO  -  395 words
    • 569 10  -  Siloso Beach Resort to target families, honeymooners, low-fare travellers By KALPANA RASHIWALA THE number of hotels on Sentosa is set to increase with the latest deal announced yesterday. Sentosa Leisure Group (SLG) has signed a $35 million contract with local hotel developer Robertson Quay Hotel
      569 words
    • 336 10  -  By DANIEL BUENAS SINGAPORE'S first private foreign university, the University of New South Wales (UNSW), plans to make an initial investment of Asl4o million (S$ 173.4 million) over the next five to six years and a total investment of As7oo million over
      336 words
    • 371 10 VISITOR arrivals for September rose 18 per cent to 658,200 from a year ago and 10 percent from 2002. Although month-on-month visitor arrivals fell for the third straight month, down about 11 per cent from August, year-on-year figures have been robust, contributing to
      371 words
    • 250 10  -  By VINCE CHONG TECH giant IBM is sitting pretty as the world's top seller of point-of-sales (POS) terminals as more small and medium enterprise (SMEs) retailers upgrade their business to stay competitive. The multinational has sold more than two million terminals worldwide,
      250 words
  • Page 10 Advertisements
    • 576 10 1 V| J AGRICULTURAL BANK OF CHINA (INCORPORATED IN THE PEOPLE'B REPUBLIC OF CHINA) 3 HEAD OFFICE: No. Jia 23 Fuxing Road. Beijing, China. Post Code: *****6 Tel: (8610) 6842 4548 Fax: (8610) 6842 4493 http: //www.abchina.com SINGAPORE BRANCH: 80 Raffles Place #27-20 UOB Plaza 2. Singapore *****4 Tel: (65)
      576 words

  • Page 11 Advertisements
    • 474 11 BVLGARI presents its first" grandes complications" watch exhibition at Cortina Watch, Collection de Choix, from 29 October 7 November 2004. Bvlgari has been producing watches since the *****. But it was only in the 1970s that the Group made its debut in the fine watch-making sector by 4 introducing collections
      474 words

  • ECONOMY WATCH
    • 387 12 First hike in nine years aimed at curbing inflation Bloomberg. Reuters [BEIJING] China's central bank raised its benchmark interest rates for the first time in nine years, stepping up efforts to curb inflation and alleviate power and materials shortages in the world's fastest-growing major economy.
      Bloomberg.; Reuters  -  387 words
    • 870 12  -  As America pushes for a stronger yuan, it must realise that Chinese acquisitions of household-name US firms and properties will become more affordable WILLIAM PESEK JR Bloomberg AS George W. Bush's administration pushes for a stronger Chinese currency, it should keep two US properties
      Bloomberg; REUTERS  -  870 words
    • 309 12  -  By CHEN HUIFEN DESPITE the growing presence of China and India, Japan will continue to be a world economic powerhouse and a significant partner for Singapore, said Trade Industry Minister Lim Hng Kiang yesterday. At the 35th anniversary celebration of the Japanese Chamber
      309 words
    • 367 12 Reuters [CEDAR RAPIDS, lowa] The US government continues to support a strong US dollar while pursuing flexible exchange rates worldwide, US Treasury Secretary John Snow said on Wednesday. "We support a strong dollar but we feel that a currency's exchange value ought to be set
      Reuters  -  367 words
  • Page 12 Advertisements
    • 1711 12 SUNRIGHT SUNRIGHT LIMITED (Company No. *****0523 M) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Twenty-Sixth Annual General Meeting of the Company will be held at Cardinal Room, Level 3, Grand Copthorne Waterfront Hotel, 392 Havelock Road, Singapore *****3 on Monday,
      1,711 words

  • MALAYSIA/INDONESIA
    • 449 13 Unnamed party also seeking share in diversified group [KUALA LUMPUR] The Naza Group, Malaysia's largest importer of luxury vehicles, is keen to buy a stake in DRB-Hicom Bhd and is in talks with the "other party" that's seeking a share in
      449 words
    • 2289 13 *01 FSBM 1.01 -0.02 6 <*»» H W- (HI FTEC Resources .0.51 0.01 245 Furqan Bus. Org. .0.34 unch 236 ASM Realty 130 -0.07 3 Qadang 1.49 0.02 1380 Abric 0 50 i*>ch 65 Gamuda 4.98 -0 02 409 ACP Industries. 135 -0.03 7 General Corp......
      2,289 words
    • 567 13 Malaysian discount carrier's fund raising exercise a success AFP [KUALA LUMPUR] Malaysian budget carrier Air sia's initial public offering (IPO), the country's biggest share sale this year, has been oversubscribed by retail and institutional investors, a senior company official said yesterday. "The initial unofficial count
      AFP  -  567 words
    • 431 13 Bloomberg [JAKARTA] PT Bank Negara Indonesia, the nation's third-biggest lender, almost doubled third quarter profit as a drop in interest rates reduced funding costs and spurred consumers to borrow more. PT Bank Danamon's profit climbed by more than half. Bank Negara's net income
      Bloomberg  -  431 words
  • Page 13 Advertisements
    • 722 13 Te erfvertire call 1011-free 1800 289 Ml 2 /Basil: tH)dceaOiehi»sis|_ IN THE MATTER OF THE COMPANIES ACT (CAP. 50,1994 Ed) AND IN THE MATTER OF MBIA (SINGAPORE) PTE LTD (In Members' Voluntary Liquidation) (Company Reg. No. *****0808Z) NOTICE OF RESOLUTION At an Extraordinary General Meeting of the members of tie
      722 words
    • 657 13 MTQ MTQ Corporation Umltad (Co Reg. No.: *****0057Z) (Incorporated In Singapore) Financial Highlights (Unaudited Group Results) 3 months 3 months 6 months 6 months enoeo onooa eooeo onooa 30.09.04 30.09.03 Change 30.09.04 30.09.03 Changs ss'ooo si'ooo ss'ooo srooo Turnover 14.347 12.288 17 29.178 24.305 20 Operating profit before share of
      657 words
    • 142 13 BOWTIEASIA PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that a Final General Meeting of the Company will be held on 29 November 2004, 9 a.m. at 151 Chin Swee Road, *02-20, Manhattan House, Singapore *****6 tor the following purposes 1) To consider the
      142 words
    • 105 13 FORM 69(3) IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF LIVING SYSTEMS ASIA PTE LTD (IN CREDITOiS'VOUINTAIV LIQUIDATION) f Company Registration No. I9MU7SC) NOTICE OF INTENTION TO DECLARE DIVIDEND Name of Company Living Systems Asia Pte Ltd (In Creditors' Voluntary Liquidation) Address of Registered:
      105 words

  • GREATER CHINA/INDIA
    • 307 14 Move is aimed at putting in place a market-driven system Reuters [BEIJING] China is to allow multinationals to move foreign exchange capital freely among subsidiaries in a fresh step to loosen up capital flows. Beijing is pushing foreign exchange reforms in a bid to
      Reuters  -  307 words
    • 476 14 Housing Authority brings forward launch by 3-4 months to Dec [HONG KONG] The world's largest public offering for a real estate investment trust is to be launched by Hong Kong's Housing Authority in a landmark deal that will raise HK$2O billion (554.3 billion)
      476 words
    • 298 14 Bloomberg [BEUING] China Merchants Bank, the nation's largest publicly traded lender, said third-quarter profit rose 46 per cent as an expanding economy fuelled demand for loans from companies and individuals. Net income rose to 844 million yuan (Ssl7o million), or 0.12
      Bloomberg  -  298 words
    • 181 14 Bloomberg [MUMBAI] Bharti Tele-Ventures, India's second-largest mobile-phone operator 28 per cent owned by Singapore Telecom, said second-quarter profit more than tripled after lower rates helped it almost double cellphone subscribers from a year ago. Net income of the company and its subsidiaries rose to 3.34
      Bloomberg; AFP  -  181 words
    • 369 14 Reuters [SHANGHAI] China's banks face a fire-storm of competition as the market opens to foreigners by 2007, spurring a mad scramble for experienced, global banks. In Shanghai alone, foreign banks have 65 branches and more than 90 representative offices, according to
      Reuters  -  369 words
    • 365 14 Bloomberg [HONG KONG] Sun Hung Kai Properties and Cheung Kong Holdings, Hong Kong's biggest home builders, may have set the stage for a property-stock rally after their purchases at a land sale stoked the city's real-estate revival. Cheung Kong and Sun Hung Kai
      Bloomberg  -  365 words
  • Page 14 Advertisements
    • 973 14 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF NATSTEEL EQUITY V PTE LTD (REG. NO. *****1761R) (In Members' Voluntary Liquidation) NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 22 Tanjong Kling Road Singapore *****8 on
      973 words
    • 899 14 IN THE HIGH COURT OF THE REPUBLIC OF SINGAPORE COMPANIES WINDING UP NO. 47 OF 2002/P IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF GYG ENGINEERING CONTRACTORS PTE LTD (IN COMPULSORY LIQUIDATION) NOTICE TO CREDITORS OF FIRST MEETING (Under the Order for winding up
      899 words
    • 469 14 IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF SB TAC PTE. LTD. (In Members' Voluntary Winding-Up) Company Registration No. *****2931E NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50, that a Final Meeting of the Members df the Company
      469 words

  • ASIA-PACIFIC/WORLD
    • 635 15 Dutch and British parents to merge under single board and chief executive Reuters Bloomberg [LONDON/AMSTERDAM] Oil major Royal Dutch/Shell Group plans to move to a unified corporate structure, ditching a century-old dualownership system blamed for contributing to a reserves overbooking scandal. The combined company will
      Reuters; Bloomberg; AFP  -  635 words
    • 331 15  -  By ANTHONY ROWLEY in Tokyo JAPANESE corporate sentiment towards business prospects in East Asia turned bearish overall this month in what was an unusually gloomy assessment of the regional outlook, the Japan External Trade Organisation (Jetro) reported yesterday. Jetro's latest survey among Japanese
      331 words
    • 201 15 NYT [ATLANTA] The float just sank. As of today, any cheque you write may be posted and the money deducted from your account —within a few hours. Savvy consumers no longer can count on a delay of a day or two or
      NYT  -  201 words
    • 649 15 EARNINGS WRAP NYT [TOKYO] Japan's top brokerage house Nomura Holdings yesterday said its profit fell 49 per cent in the fiscal firsl-half that ended on Sept 30. hit by sluggish foreign bond trading and higher costs in its banking operations.
      NYT; AFP  -  649 words
    • 457 15 Reuters. Bloomberg [NEW YORK] Conventional wisdom holds that Republican presidents are good for US stocks and bad for bonds. History suggests otherwise. Studies released this week show that equity investors have gained more under Democratic presidencies than under Republican administrations. However, returns
      Reuters.; Bloomberg  -  457 words
    • 258 15 Bloomberg [BANGKOK] Thailand's central bank cut its economic growth forecast for this year to as little as 5.5 per cent, citing rising oil prices and the reappearance of the bird flu virus. South-east Asia's sec-ond-biggest economy will grow between 5.5 per cent and
      Bloomberg  -  258 words
  • Page 15 Advertisements
    • 126 15 f i aL!, Lwn powemn tnnyiis, proven results rrom wis 8 one day video seminar, featuring great of -The Art Of The leaders that has envisioned different ways of jflß Oom of "The Effective Tlm a m me Father of fcwcfhw BflL Soviet Untan itMHnj FounderOfßu* Business HEk President 1985
      126 words

  • AVIATION
    • 317 16 Five cases related to 2000 crash still pending in US courts Bloomberg [LOS ANGELES] Singapore Airlines, Asia's most profitable carrier, settled 11 lawsuits stemming from a 2000 plane crash that killed 83 of the 179 people on board, a lawyer for the
      Bloomberg  -  317 words
    • 353 16 Reuters [NEW YORK] Delta Air Lines' pilots union said late on Wednesday it had reached a tentative agreement with the airline on cost savings. The Air Line Pilots Association said its leadership would review the agreement with Delta management and would not release any
      Reuters; BLOOMBERG FILE PHOTO  -  353 words
    • 470 16 NYT [ATLANTA! Even as they face mounting losses, airlines are trying to find new ways to make flights more fun. The latest offering: hand-held entertainment devices that display movies, books, newspapers, magazines, TV shows and games. Personalised electronic entertainment has been around
      NYT  -  470 words
    • 241 16 Bloomberg [MELBOURNE] Virgin Blue Holdings, Australia's second-largest carrier, said an agreement with Air Macau and Hong Kong-based Shun Tak Holdings on starting a discount airline in Asia is not imminent. The three companies will sign an agreement next week to start a
      Bloomberg  -  241 words
    • 457 16 AP [WASHINGTON] Boeing Co. working with US safety officials, is investigating tiny scratches on some older model planes to see if they are evidence of a potentially dangerous problem with the jets' outer shells. The scratches, or scribe marks, appear near joints where
      AP; FILE PHOTO  -  457 words
    • 128 16 AFP [MIAMI] Two men, who allegedly told luggage screeners one of their bags contained a bomb and would explode if opened, were arrested at Miami International Airport, authorities said Wednesday. The suspects, identified as Mizael Cabral and Daniel Correa, were preparing to board a
      AFP  -  128 words
    • 296 16 Reuters [AMSTERDAM] Airports will get a better chance to beat the queues with a new air traffic and weather system from Amadeus and IBM that can more adequately predict busy hours, the companies said on Tuesday. For the first time airports will have
      Reuters  -  296 words
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  • SHIPPING
    • 625 17  -  Nine-month profits double to US$588m on strong volumes and rates By DONALD URQUHART [SINGAPORE] Sirging transpacific cargo volimes, tight capacity and htalthy freight rates have combined to lift Neptune Orient Lines (NOL) third-qiarter net profit to US$234 million, a 13 per
      625 words
    • 419 17  -  By DONALD URQUHART [SINGAPORE] Proposals by US lawmakers for inspections of 10 per cent of the nine million inbound containers at US ports would be costly and further worsen delays already plaguing West Coast ports, according to a senior APL security executive.
      419 words
    • 264 17 [LONDON] Plans by Maersk to move its Central American regional headquarters from its current location in New Jersey to somewhere in Central America have angered the American teamsters union which is organising a picket and other protests. "Moving American jobs overseas is
      264 words
    • 615 17  -  ADMIRALTY CASEBOOK By SELVA KUMAR CAN a bargi used to transport cargo be considered a ship and be arested in an admiralty actim? Yes, said the Hong Koig High Court last month, as long as the barge displays the key characterises of a ship
      615 words
    • 615 17  -  It's in exploratory talks with potential business partners By DAVID HUGHES [SINGAPORE] Shares of Hong Kong-listed Star Cruises have seen some heightened activity lately signalling partly the reviving fortunes of the cruise business in Asia which was hit badly by the Sars outbreaks.
      FILE PHOTO  -  615 words
    • 99 17 [SINGAPORE] Star Cruises has slapped a fuel surcharge for its cruises in the Asia Pacific region, as a temporary measure to cope with the impact of surging oil prices. The surcharge ranges from US$2-4 per person per night and applicable to all passengers regardless of cabin category.
      99 words
    • 293 17 S6K '000 Oct 21 SS W- Vol CH Offshore... .0.40 0.01 541 ChuanHup JO/BB 0.02 ***** Cosco Corporation 1.06 0.04 ***** CWT Distribution .056 unch 59 EzraHldgi 1.18 0.02 106 Freight Unta.... 0.10 unch 281 Grand Banks Yacht 0.83 unch 0 Jaya Holdings 1.03 unch 883 K1 Venture-
      293 words
    • 75 17 Bernama [ABU DHABI] A giant crane that can lift two 40-foot containers at one time, the first of its kind in the world, debuted in Shanghai recently, United Arab Emirates news agency WAM reported on Wednesday. It said the machine will be exported to UAE
      Bernama  -  75 words

  • EDITORIAL & OPINION
    • 518 18 EDITORIAL I IT won't be a rest day for Abdullah Ahmad Badawi this Sunday as he marks his first year in office as Malaysia's fifth prime minister. So far, the premier, who took over the hot seat from Dr Mahathir Mohamad one year ago, seems
      518 words
    • 1125 18  -  With yet another scandal unfolding, it's clear that Corporate America must press on with reform By JEFF MADRICK NYT WHEN you think about the economic issues facing the next president, you have to wonder why either candidate wants the job. There are the outsize budget deficits, high
      NYT; REUTERS  -  1,125 words
    • 653 18  -  THE BOTTOM LINE FRANK CHING AMERICAN Secretary of StateColin Powell, during his two-day visit to Beijing, tried to persuade Chinese leaders that Taiwanese leader Cien Shui-bian's offer of talks provided an opportunityfor a dialogue but, as expected, he was rebuffed. The outcome was predictable because,
      653 words
    • 135 18 'The availability of oil in terms of reserves and geology isn't an issue, but the problem is whether the oil can find the money.' Fatih Birol, of the International Energy Agency, on the need for oil-producing countries and international oil companies to increase their investments in finding
      135 words
    • 850 19  -  With a new king appointed after an uncontroversial election, the path ahead for the country is clearer HARISH MEHTA IT is time foreign investors took another look at Cambodia, following the surprisingly audacious step by King Norodom Sihanouk to abdicate the throne on Oct 7.
      REUTERS  -  850 words
    • 1152 19 NYT ON this history-soaked peninsula, where Portuguese culture mingles with the salt air of the South China Sea, a visitor from Brazil can start the day sipping cafe de manha, while scanning one pf three local Portuguese daily newspapers or watching the news on
      NYT; BLOOMBERG  -  1,152 words

  • Page 19 Advertisements
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    • 5 19 Lianhe Zaobao excessive W j
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  • 10600 20 STRAITS TIMES INDEX STOCKS Stocfc name WW Qom dung* Stodmnw m Oc— On—* Allgreen 50c 0.29 1.040 +0.020 NOL 2.19 3.020 +0.060 BIL Irrtl US20c 0.47 0.985 +0.005 OCBC 10.63 13.900 +0.400 Capita Land 1.28 1.880 -0.010 Parkway H 25c 0.68 1.450 +0.010 Chart SemiCond 26c 0.80 1.040
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  • 5598 21 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES tolacilan ratt *&t %r Oct 37 IndM Owp» Own Chu— Omwqb flmm Omw WoHdlndBiftrtmiMff 7935 05 15 09 07 04 25 tWEfttfciwary 727.1 0.9 3.7 U 19 Si EmyFwimkaw jOflM 13 35 U 15 U 55 Pacific 619.7 13 1) II M M
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  • Page 22 Advertisements
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    • 797 22 tMTHUHIA»Q«OS««VICI vwm/vßr tAfom mbhibo m wt io U SIumVWTUK/H IS 3J M/ 10 31/10 M/ 11 07/11 0»/ll STurovaniiE/is is u 11/11 14/11 ii/ii *1/11 n/11 stmts yewihe/h is it 1 K/11 v/n ov\r os/i? \wa JtflA/MNOAI KOBO IV» IvKStt/VOT I MfflO) I HBOHTW I YOU KB KHN I IW6
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    • 703 24 UflHf WALLENIUS WILHELMSEN WWWW website: http://www.2wglobol.com Ytssa I VQT I I HEIGHT ISiI IK 1 MAO I HOP* I MIA| SAV W 0«M NTC WW I MOB I TAMO AF42I 4201ws 6.4 M I 01/11 24/11 03/12 10/12 11/ M H/U 17/12 07/12 TAUSMAN Af422 ***** MS I 6.3* I
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    • 585 24 i BSA A, MYANMA FIVE STAR UNE (Mvommt Natioaal Um) lull far Yaagoa vrssa voy sw pu pen pgu PAGAN 336W 05/11 31/10 HPA-AN 326W Sl» IN MALAYSIA: IOUSTEAD SHIPPING AGENCIES KUi/PKL- 03 300 SUM PEN: 04-*****15 JKtKL ACCEPTING CONVENTIONAL CBO HUG SIN HKG SIN PGII HL RUC OOANU QUEEN
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  • Page 25 Advertisements
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    • 479 25 TIGER WAVE 230N 02-03/11 09-11/11 16-17/11 I HyfUllUl TIGER PEARL 231N 04-07/11 12-14/11 20-21/11 I TIGER SKY 232N 09-10/11 16-11/11 23-24/11 I ■■■■■TIGER SEA 233N 13-14/11 19-21/11 27-28/11 I TIGER SKY 234W 16-17/11 23-25/11 30-01/12 J HMfflfflNflj BALSAM 164 02 03/11 10-12/11 20 20/11 1 ■SKIIUACHIEVER 160 11-12/U 19-21/11 29
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 7227 26 ETA ETA A*wrtiMf Vessel Voyage Telephone ETA jjT* nn liy T'lijtiiiii SIM Dest'n Heme Nine Mwnbw Number SIM Derf"» J*"* flunk II 13/11 24/11 PACCCont PAC MAKASSAR 411N *****855 To ABIDJAN (ABJ) 2003 Cote D'lvoire 15/11 2701 EG M 8 27 *****555 05/11 29/11
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  • Page 26 Advertisements
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      99 words


  • LEISURE
    • 582 28  -  CINEMA Before Sunset will appeal to those of us trying to get in touch with our sensitive side, says GEOFFREY EU GEOFFREY EU M MOVIE that deliberately rsets out to be all talk and no action would usually be grounds for the insanik ty-in-movie-making plea,
      582 words
    • 410 28  -  By GEOFFREY EU FRESH from her nasty girl tour de force in Monster, Charlize Theron puts her Head in the Clouds and the results are far from heavenly. This turgid *****-to-World War II clunker is a painfully misguided period piece that is about
      410 words
    • 341 28 BOOK Paranoia by Joseph Finder Publisher Orion (Pansing) $32.50 before GST 426 pages (paperback) Reviewed by Shoba Karanakaran ONCE in a while, there comes along a novel that redeems the form from its current pitiable state, one that keeps you up at night, one
      341 words
  • Page 28 Advertisements
    • 122 28 Where to wine, dine and entertain... AWaMrfMrivtW^l!& Treate apfly caU^ Advertise in Wine, Dine Entertain of The Business Times and reach out to 100,000 readers daily. 1284 f JBK 9" mi m sim SSTiMI S GREAT WINES direct I HHNj #02-02 Tonglin Shopping Centre te Orctart forodt Hot«l Tel: *****213
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    • 34 28 D MHarf bhiA Dteals to whet your appetite... |&AKg| V3IES Chocolate Foodue «■*s»*•■(• or FKEE botde of Houae Selection Wise wtfesioo**** '(kMotti tZUfittQUQI WMHMBt fp*"f oq tOtftl bilL N^:s^jyv T' s (S^esssr v «r/M»
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    • 125 28 [MIIN tiMTSUIMiyS endless flow •I cxollc ktbaks an 4 IC« C«lfl MMI mry suntfay at Illm p*r perMH I liMpm 1.30pm •njoy a #r*« Itew of axatk liAkmfeet ieai #|tA parfact aftarnaan! The Most Relaxed Dining In The Ctty Wok &> Grill Is the perfect place to en (cry ami
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    • 196 28 BUI Si(kMlHlul«Uiml p It Hill f•ikr y a I 60 Dishes Deluxe Feast Select from our extensive a la carte buffet menu featuring 60 superb Sichuan and Cantonese gourmet delights. Lunch: $27.80 (Adult), $17 (Chid') Miner $28.80 (Adult), $17.50 (CUM*) For reservations, please call 6290 8005/6299 9011. Prices subject to
      196 words
  • Page 28 Miscellaneous
    • 291 28 CRYPTIC CROSSWORD 5 A beast who may pester (6) 8 A revolutionary Muslim (8) Sudanese (5) IHI 11 Get Scotsman hire bird (6) nHfIHH" 20 Live for the regiment and the 23 They clear the air once senior is I I I removed (8) BMP I I 126 26 Birds
      291 words

  • Page 29 Advertisements
    • 307 29 j The conservation of Chek Jawa i I is in our hands I "5m j -v .43l3^fc«.^>A^^^fite3'4k4kJ^ p S^H M -^"I^B^,-j^KcJ^^BiK i'J* %pk 4Bk Hp HH y%jt ■w^m^"''' H &^v-* f ,;v^^^:-/f US K.- yjrf j Mp^NWy k SB K iwHMiir^?■'•'f*ißwFT^niL^^Jmmua^S^^B T> jtt ;^lsiißßl^^fc^^ I %K<? affifra-- 'Jtf! I HSBC's
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  • Page 30 Advertisements
    • 220 30 il Association vwiH^',;^^K# Founding Esplanade Partner Based on fficlal w H V and her Heartless Grandmother jH vasantiiam Im 'B' Wk 0 by Theatre Television Associates central ■i ■MQE ILeJ KaS lndl3 /^^>^m9Ml Mb 1 \V V I nil, j b mw OP 5 Catch this stirring adaptation fresh from
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  • ARTS
    • 808 30  -  Celebrated flautist James Galway tells CHEAH UI-HOON he'll keep at it until he finds a good job CHEAH UI-HOON THE acclaimed flautist Sir James Galway and the only knighted one in the world makes his Singapore debut next month, when he plays with the Munich
      808 words
    • 280 30 Oct 30, Sunday Toyota Classics Concert 2004 by Brno Philharmonic Orchestra (Czech Republic) Esplanade Concert Hall 7.30pm (180 mins with intermission) Tickets: $35, $45, $65, $85, $100, $130, $150 Nov 1, Monday ÜBS Verbier Festival Orchestra With Charles Dutoit And Julian Rachlin, by ÜBS Verbier Festival Orchestra
      280 words
    • 490 33  -  THEATRE This year's Vagina Monologues features an eclectic mix of women, reports SANGEETHA MADHAVAN SANGEETHA MADHAVAN WHILE feminist debate centres on whether Freud misled generations by focusing on the vagina instead of the clitoris, the phenomenon that is The Vagina Monologues has people judging freedom by it
      490 words
    • 321 33  -  By CHEAH UI-HOON THE progressive service of husband-hiring might not have hit Singapore's shores yet, but already, playwright Desmond Sim's snappilypaced and witty comedy, Hubbies4Hire. is asking this question: Does a woman want a man who fulfills a role in her life without both putting emotional
      321 words
    • 535 33  -  MUSIC By SANGEETHA MADHAVAN SINGAPORE can lay claim to an Indian music ensemble that even India can't boast of. Musicians and composers are usually surprised to learn that the Singapore Indian Orchestra Choir (SIOC) is a fully functional orchestra with 40 members and a 30member
      535 words
    • 327 33  -  By CHEAH UI-HOON WILD Rice's The Visit of the Tai Tai might as well be renamed "The Dramatic Entrances of Ivan Heng" with its longer-than-necessary spotlight on the actor who's made his name in gender-bending roles. So if you're a Heng fan.
      327 words
    • 226 33  -  By SANGEETHA MADHAVAN FRIEDRICH Durrenmatt's The Physicists was written at the height of the Cold War in the early 60s when questions of scientists' moral responsibility and nuclear armament were the rage. Set in "the present", Luna-id's straight-up staging of the play unfolds in a sanatorium where three
      226 words
    • 255 33  -  EXHIBITION By CHEAH UI-HOON TO celebrate their 10th anniversary. Opera Gallery has stepped up its annual exhibition of modern masters' works. In their Decade of Masterpieces this year, some US$5O million worth of paintings go on sale at their string of galleries around
      255 words

  • Page 31 Advertisements
    • 80 31 PIAGET POLO j|Pg^jqjW»y&MjßV^ul^^k S Vv I JuNyd* \V 1 j*m Jpi k rs^ s i&9ESx^A v i--'\ C "v /fv:C y".;" v s, S «V 4 "r? v is, r A.** k <.- >y >■ "i -•< <* r- 1 v v .£v.-V ...JvM,' V' *vv PiageT Geneve PIAGET Boutique:
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  • PASSION
    • 779 32  -  CHEAH UI-HOON finds out how oil broker Richard Tan's twin hobbies have shaped his lifestyle CHEAH UI-HOON THERE'S a carefully cultivated haven tucked away in the hilly and winding streets of the Garlick Avenue housing estate where large koi swim and shapely bonsai
      CHRIS LOH  -  779 words
  • Page 32 Advertisements
    • 360 32 *v~ c-; w -<* „>" 3 ±<y. M" 0 8 6 2 brand of DtlmlerChrysler *s.* ■> S,i How scratch-resistant is the world's first ceramic paint? We'll let you know in about 1200 years. Ever wondered why the world's most But imagine particles measuring a mere Introdllf in? NanOtPf hnolf)£V
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    • 1 32 Mercedes-Benz
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  • 903 34  -  Making Time LEELA SCHELLENBERGER concludes this series on limited edition timepieces created for Sincere's Golden Jubilee LEELA SCHELLENBERGER NOW that we have arrived at the fourth and final instalment of the line-up of horological masterpieces created to celebrate Sincere Fine Watch's Golden Jubilee, you can
    903 words
  • Page 34 Advertisements
    • 57 34 EST? 1 954 SINCERE fine watches This series is brought to you by Sincere Fine Watches hm|||NN JUBILEE •1:1* PATEK PHII ll'h (.1 NFVI tOft w s pT| rl ''it I'' i h i !i'- n i !i' i i 11 L S'rW*"?! i-Ji'-ft r liffiffl if *i X*. "&>§8B
      57 words