The Business Times, 3 November 2004

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Total Pages: 32
1 32 The Business Times
  • 15 1 THE BUSINESS TIMES MICA (W 023^)3/2004 SINGAPORE 85 cents Wednesday November 3,2004 online at http^/bu»nesS"time&asiai.a>fiLsg
    15 words
  • 639 1  -  Biggest growth pullback in 5 years by global chip sector could hit S'pore firms hard By RAJU CHELLAM [SINGAPORE] Despite robust third quarter results from the world's top chip makers, the outlook for the semicon sector seems bleak, with growth set
    Source: World Semiconductor Trade Statistics  -  639 words
  • 133 1 Dsn 1,***** (+16.59) ST INDEX FUTURES 1,997.00 (+14.00) siMsa 239.75 (+224) SIMSa FUTURES ***** (+2.00) MARKETS Tuesday Change KISECOMP 874.17 +10.13 NIKKEI 225 10,887.81 +153.10 HANG SENG 13,308.74 +214.49 SET INDEX 631.99 +5.03 JAKARTA COMP 881.40 +17.81 MANILA COMP dostd SEOUL COMP 846.67 +11.01 SHENZHEN B 223.27 -0.06
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  • 48 1 TOP STORIES... PG 2,3 COMPANIES... PG 4-7 MARKETS PG 8 SINGAPORE ..PG 9-10 ECONOMY PG 12 M/SIA/INDON ...PG 13 ASIA PACIFIC ...PG 15 CHINA/INDIA ...PG 16 WORLD PG 17 AVIATION PG 18 SHIPPING PG 19 EDITORIAL PG 20 LETTERS PG 21 STOCKS. J»G 22-23 MOTORING...... PG 29
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  • 560 1 Temasek chief says it'll invest further in Asian enterprises [SINGAPORE] Temaseklinked companies (TLCs) contribute about 10 per cent of Singapore's gross domestic product, Temasek Holdings chairman S Dhanabalan said last night. "This complements the predominant roles of MNCs and SMEs. Through a globally
    560 words
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  • TOP STORIES
    • 301 2 Future of link to US dollar seen tied to fate of China's yuan Reuters [HONG KONG] Malaysia's currency is close to its fair value at its pegged rate of 3.8 to the US dollar, central bank governor Zeti Akhtar Aziz said yesterday. "From
      Reuters; BLOOMBERG  -  301 words
    • 536 2  -  Recruitment agencies expect brisk business By CHEN HUIFEN [SINGAPORE] The business community reacted cautiously yesterday to news of a sharp fall in the jobless rate in the third quarter. Most said they were not surprised that unemployment had eased, but that the
      536 words
    • 67 2 IN yesterday's report, "Jobless rate hits surprise 3year low", we said a survey released by the Department of Statistics showed business confidence falling in the services sector. DOS has pointed out that its survey actually showed that an overall net balance of 30 per cent of firms in the
      67 words
    • THREE-MINUTE DIGEST
      • 84 2 SHARES of China-based New Lakeside Holdings gained 5 per cent yesterday after its independent directors called for the ouster of two key directors, following the termination of the latter's service agreements. Market observers said the independent directors' actions were encouraging in terms of corporate governance,
        84 words
      • 74 2 DESPITE Singapore having made great strides in becoming a wired island, it still needs to catch up with the likes of Australia, Hong Kong, Britain. Norway, South Korea, the US, Sweden, Finland, and Switzerland, according to a global Information Society Index survey
        74 words
      • 64 2 MALAYSIA posted record export growth in September—thanks to sky-high oil prices and the cheaper ringgit. Exports surged 28.8 per cent year on year to RM44.38 billion (5519.5 billion). Crude petroleum accounted for RM2.63 billion or almost 6 per cent of total exports
        64 words
      • 65 2 APART from owning a Malaysian bank, Singapore investment company Temasek Holdings is set to add more Malaysian assets to its fast-growing portfolio. Mapletree Capital Management—a unit of Mapletree Investments, which in turn is a subsidiary of Temasek will form a joint venture with Malaysian
        65 words
      • 71 2 CHINA will crack down on speculative capital inflows, the country's foreign exchange regulator said yesterday. Illegal transfers of foreign exchange into the domestic market by some banks, firms and individuals had "affected the international balance of payments, led to exceptionally high growth
        71 words
      • 84 2 INDIAN states vowed yesterday to implement by April next year value-added tax, the country's most ambitious tax reform in half a century, which analysts say will help repair their battered finances and bridge a huge deficit. The implementation of VAT, which
        84 words
      • 62 2 SHANGHAI plans to expand its airports and increase access for domestic airlines as it manoeuvres to become a regional hub for air travel. Pudong International Airport, the newer and bigger of Shanghai's two airports, will add three new runways to its current one, the
        62 words
      • 88 2 DESPITE signs that Hong Kong may soon be overshadowed by Pearl River Delta ports, PSA International is said to have made a HK$6OO million (*****.5 million) offer for a stake in Kwai Chung container terminal operator Asia Container Terminals (ACT). The
        88 words
      • 87 2 ADD Steve Chen to the growing list of America's high-technology exports. A Taiwanese-born US citizen who was considered one of the nation's most brilliant supercomputer designers while working in America for the technology pioneer Seymour Cray in the 1980s, Mr Chen has moved
        87 words
      • 75 2 THIS time last year, few looked at fixed income funds. But they have actually delivered steady even if muted returns. At the same time, analysts have toned down their expectations for interest rate hikes; and even if rates rise, one view
        75 words
    • 838 3  -  First votes in give hint of possible close fight; analysts fear cost of a delayed outcome By ANDREW MARKS in New toix A DISPUTED election could sink stocks for weeks to come, analysts say. The first votes are in and if the
      838 words
    • 322 3 Bloomberg [NEW YORK] Crude oil futures fell for a second day on speculation a win for Senator John Kerry in the US presidential election may result in an increase in oil supply. Mr Kerry, who is deadlocked with President George W Bush
      Bloomberg  -  322 words
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  • COMPANY NEWS
    • 644 4  -  Stock rises after they call for ouster of two key directors By KENNETH LIM SHARES of China-based New Lakeside Holdings gained 5 per cent yesterday after independent directors called for the ouster of two key directors. Market observers said the independent directors' actions were encouraging
      644 words
    • 624 4  -  HOCK LOCK SIEW By TEH HOOI LING IF THE developments in New Lakeside are any indication, there is cause to cheer the progress made in corporate governance in Singapore. But it also brings to the fore the difficulties faced by independent directors. The independent directors have
      624 words
    • 530 5  -  Group's strong cash flow can support higher dividend payout says CEO By ANGELA TAN SINGAPORE Post yesterday reported a 22 per cent jump in net profit to $29.54 million for its second quarter ended Sept 30 and made a commitment to shareholders to
      BLOOMBERG  -  530 words
    • COMPANY BRIEFS
      • 60 5 THE initial public offer of 70.4 million shares by Media Asia Entertainment Group, one of Asia's leading producers and distributors of Chinese language films, has closed 2.25 times subscribed. The public tranche of 3.6 million shares saw good response from retail investors. The placement
        60 words
      • 45 5 NEW Wave Technologies reported group net profit of $218,000 for the first-half ended Sept 30, against a loss of $8.9 million in the same period last year. Revenue rose 38.5 per cent to nearly $6 million.
        45 words
      • 49 5 SINGAPORE chip tester Stats ChipPAC is seeking an indicative yield of around 7.25 per cent on the US$l65 million bond currently being promoted through a roadshow, a banking source told Dow Jones Wires. Formal guidance is expected within the next few days.
        49 words
      • 65 5 Reuters MALAYSIAN conglomerate Sime Darby Bhd said yesterday it was in talks to sell two of its units to Malaysian leisure-to-power group Genting Bhd. Sime, in a reply to a stock exchange query, said it was negotiating to sell its stakes
        Reuters  -  65 words
      • 49 5 AP OIL says it is in discussion with various parties on some major trading business or even possible merger and acquisition. Otherwise, the company is unaware of any other reasons for the sharp increase in trading activity of its stock.
        49 words
      • 134 5 Reuters OIL trading and transport firm Titan Petrochemicals Group Ltd said yesterday that it would buy the oil trading business of its Singapore-based parent, Titan Oil Pte Ltd, for HK$l95 million. Shares of Titan ended up 11,11 per cent yesterday at HK$O.BO after
        Reuters  -  134 words
    • 358 5  -  By KALPANA RASHIWALA PROPERTY group Wing Tai Holdings' first-quarter group net profit rose from $1.1 million to $3.2 million, due largely to a big increase in its share of results of associated and joint-venture companies, from $2 million to $8.2 million. This year-on-year quadrupling came
      358 words
    • 509 6  -  MD believes lawyer Chandra Mohan will help resolve Wee Poh's legal issues By VINCE CHONG WEE Poh Holdings has roped in a lawyer as an independent director after the resignation of its two independent directors Tan Kee Seng and David Ding Kuan Yong. Joining
      509 words
    • 273 6  -  By KALPANA RASHIWALA DEUTSCHE Bank continues to expand its warrant supermarket here. It is launching seven more covered warrants. It plans to issue 50 million covered call warrants on each of the following Singapore-listed counters City Developments, Singapore Technologies Engineering, SembCorp Industries, Creative Technology,
      273 words
    • 355 6  -  By JOYCE KOH AFTER a dismal performance last year, mainboard-listed ECS Holdings bounced back spectacularly in the third quarter its performance boosted by returning business confidence in the region. The IT products and services provider yesterday posted Q3 earnings of $3.7 million,
      FILE PHOTO  -  355 words
    • 299 6  -  By KENNETH LIM CHINA-BASED Southern Packaging Group is issuing 59 million shares at 30 cents apiece to raise $9.8 million to expand capacity. And separately, modified corn starch supplier China Sun Bio-chem Technology Group said two Temasek Holdings units have applied for a chunk of
      299 words
    • 430 6 SPH Magazines (SPHM), which recently acquired the publishing business of Blue Inc, has joined forces with a prominent Malaysian businessman to strengthen its foothold in Malaysia, parent Singapore Press Holdings (SPH) said yesterday. SPH said its magazine arm has entered into various agreements with
      430 words
    • 351 6 Bloomberg [HONG KONG] PCCW Ltd, Hong Kong's largest fixedline phone company, said nine-month profit rose 47.5 per cent as apartment sales countered a drop in landline phone revenue and losses from jointly controlled companies shrank. Net income rose to HK$l.O2 billion (*****.6
      Bloomberg; BLOOMBERG  -  351 words
    • 592 7 Quarterly earnings seen up 3% for contract electronics maker Reuters [SINGAPORE] Venture Corp Ltd, Singapore's largest contract electronics maker, probably saw a 3 per cent rise in profit for the September quarter, hit by slower printer orders and higher component prices. The December
      Reuters; BLOOMBERG  -  592 words
    • 329 7  -  From, AL LABITA in Manila A UNIT of Philippine food and beverage giant San Miguel Corp (SMC) is banking on its tie-up with Singapore's Super Coffeemix Manufacturing Ltd to penetrate the Asian consumer market. "Our Singaporean partner enjoys a wide market reach abroad
      BLOOMBERG  -  329 words
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  • SINGAPORE MARKETS
    • 926 8  -  CURRENCIES But players planning short positions hope it will correct higher initially LARRY WEE Senior Correspondent AHEAD of the US presidential election results today, the dominant sentiment in currency markets is that more downside looms for the greenback but the hope is that it
      926 words
    • Article, Illustration
      496 8  -  Compiled by KENNETH LIM Airocean Group Nov 2 dose: $0.23 GK GOH RESEARCH. Nov 2 OUR key concern is high oil prices and margin compression in the freight forwarding industry. Brent crude prices averaged U5541.60 in 3Q04, or 30 per cent higher than the average in 2Q04. In
      Source: Bloomberg  -  496 words
    • 370 8  -  STOCKS R SIVANITHY Senior Correspondent A CASE of genuine demand for blue chips, or perhaps "buy in anticipation, sell on news"? If you were to take a straw poll of traders yesterday, the latter would probably have been favoured over the former the Straits
      370 words
    • TRADES TO WATCH
      • 100 8 SEE Hoy Chan Equities wasted no time in buying up 20 million shares of newly listed Zhonghui Holdings on its first day of trading on Friday last week, giving the privately held investment firm a substantial 8.61 per cent stake. See Hoy Chan had
        100 words
      • 98 8 MULTI-CHEM'S top couple continued to see their combined stake increase after chairman and chief executive Foo Suan Sai bought some 2.8 million shares on the open market yesterday at an average of about 31.7 cents each. He and his wife, chief operating officer Han Juat
        98 words
      • 88 8 SEMBAWANG Kimtrans' two executive directors saw their deemed stake rise to 22.47 per cent from 21.15 per cent after Kimtrans Singapore Pte Ltd bought about one million shares in a series of transactions on the open market yesterday. Chief executive Peter Tan and chief operating
        88 words
      • 61 8  -  Compiled by KENNETH LIM IPCO International substantial shareholder Chng Gim Huat has bought another 500,000 shares of the infrastructure, turnkey engineering and construction group on Monday, raising his stake to 5.33 per cent from 5.27 per cent. Mr Chng first became a substantial shareholder of
        61 words
    • 339 8  -  CHART POINT By LIM SAY BOON OCBC Investment Research TAKING Shakespeare out of Macbeth, the Bard might have been tempted to make this observation of our stock markets these days as a tale "full of sound and fury, signifying nothing". And so
      Source: Bloomberg  -  339 words
    • Article, Illustration
      428 8 OTHER SINGAPORE INDICES Nov 2 VALUE CLOSE BT OB/OS -259.00 -23.00 BT CADI -*****.00 +110.00 BT 10-day MA -*****.00 -26.00 All-SG Equities 518.61 +4.30 SG Equities Elect 156.08 +3.21 SG Equities Fin 1601.39 +8.09 SG Equities Prop 478.27 +5.73 SIMSCI 239.75 +2.24 SiMSCI Futures 240.30 +2.00 MOST ACTIVE STOCKS VOLUME
      428 words

  • SINGAPORE NEWS
    • 506 9  -  South Korea and Hong Kong ahead of S'pore at 13th spot in IDC survey By RAJU CHELLAM SINGAPORE may have made great strides in becoming a wired island, but it still has some catching up to do with the frontrunners, according to
      506 words
    • 253 9 MORE mature workers and small and medium-sized enterprise (SME) employees are benefiting from courses funded by the Skills Development Fund (SDF), the Singapore Workforce Development Agency (WDA) said yesterday. According to the agency, there was a 10 per cent increase in SDF-supported
      253 words
    • 444 9  -  By ROLAND LIM THE Infocomm Authority of Singapore (IDA) revealed yesterday that industry players have committed $12 million to Radio Frequency Identification (RFID) projects. This is on top of the $10 million that IDA announced in May it will be investing over the next three
      444 words
    • 520 10 Poll indicates halving of growth to 4.5% in '05 with tech slowdown Reuters [SINGAPORE] Singapore's economy is set to grow at its fastest rate since 2000 this year, bolstered by strong electronics and drugs manufacturing, but the city-state faces an uncer-
      Reuters; FILE PHOTO  -  520 words
    • 420 10  -  By NANDE KHIN, VEN SREENIVASAN SFVEN companies yesterday received the Economic Development Board's Regional Headquarters (RHQ) award, which confers a preferential 15 per cent tax rate for three years should they meet certain investment and operations commitments in Singapore. Four are companies from the
      420 words
    • SINGAPORE ROUNDUP
      • 57 10 OGILVY Public Relations Worldwide said it has appointed Andrew Thomas as its new managing director to lead the agency in Singapore. Mr Thomas replaces Michael Rose "who moves on to a different role". Before joining Ogilvy, Mr Thomas was the head of Communication Management
        57 words
      • 54 10 HOMEGROWN biologies contract manufacturer A-Bio Pharma said it has signed an agreement with GlaxoSmith Kline Biologicals to develop and produce vaccine materials for use in the latter's clinical trials. The collaboration, said to be worth "millions", is A-Bio's first commercial agreement since it started operations
        54 words
  • Page 9 Advertisements
    • 21 9 Recruit the one you want for any position you have Call 1800 289 8822 or email recruit@sph.com.sg for your recruitment solutions
      21 words
    • 493 9 Set your sights on some of the world's most promising IPOs Be the fire! In line with the United Qlobel IPO Fund The United Global IPO Fund lets you enjoy the potential performance of global IPO placements, pre-IPOs and global post-IPOs easily, In a risk-managed manner. The best thing? Performance
      493 words


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    • 182 11 OUT Vision h9S hot ChBriQSCl since we first started in Singapore 15 years ago. Then, way back in 1989, we were a small start-up trying to sell a revolutionary idea the Smart Card. We knew we had to persevere because, once the idea caught on, the usage of our Smart
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  • ECONOMY WATCH
    • 631 12 They believe a market-driven exchange rate is next on the cards Reuters [BEIJING] The knee-jerk reaction when China sprang its interest rate surprise last week was that the move pushed back the timeframe for a currency revaluation. But many analysts now say
      Reuters; AFP FILE PHOTO  -  631 words
    • 741 12 Reuters [SINGAPORE] Thailand. Taiwan and China have raised interest rates. South Korea has cut them. India has raised one key rate but not the other. The Philippines has stood pat. These are tricky times for Asian central bankers. With oil pushing up input
      Reuters  -  741 words
    • 441 12 Reuters [WASHINGTON] The Bush administration's retooled rhetoric supporting a strong dollar while ceding control to the markets may be around for some time, regardless of the outcome of yesterday's election. The current incarnation of the "strong dollar" policy allows Treasury Secretary John Snow to maintain,
      Reuters  -  441 words
    • 575 12 AFP [FRANKFURT] The European Central Bank (ECB), scheduled to meet later this week to discuss interest rates, is likely to hold its monetary policy fire for the time being as the rising euro helps to offset negative economic effects of surging oil prices,
      AFP  -  575 words
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  • MALAYSIA/INDONESIA
    • 344 13  -  Exports of electrical products, palm oil and crude oil at highest levels ever By PAULINE NG in Kuala Lumpur MALAYSIA posted record export growth in September thanks to sky-high oil prices and the cheaper ringgit. Exports surged 28.8 per cent year on year to
      344 words
    • 4 13
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    • 274 13 Reuters [KUALA LUMPUR] Malaysian state oil firm Petronas Nasional Bhd may privatise more subsidiaries as it pursues costly international expansion, but it should remain in state hands, Petronas' special adviser said on Tuesday. "It all depends upon the finances of Malaysians," the
      Reuters  -  274 words
    • 489 13  -  By EDDIE TOH in Kuala Lumpur APART from owning a Malaysian bank, Singapore investment company Temasek Holdings is set to add more Malaysian properties to its fast-growing portfolio. Mapletree Capital Management a unit of Mapletree Investments, which in turn is a subsidiary of
      489 words
    • 355 13 AP [JAKARTA] A month after being sworn in, Indonesian lawmakers have yet to begin work because of a bitter dispute that could threaten efforts by President Susilo Bambang Yudhoyono to improve security and cure the country's economic ills. Legislators who supported Mr Yudhoyono's election bid
      AP  -  355 words
  • Page 13 Advertisements
    • 462 13 To advertise call toll-free 1800 289 8822 Email: ctHn^ CHINA AVIATION OIL (SINGAPORE) CORPORATION LTD (Incorporated in the Republic of Singapore) Company Registration Number: ********** NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of China Aviation Oil (Singapore) Corporation Ltd (the "Company") will be
      462 words
    • 453 13 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SINPRINT TECHNOLOGY PTE. LTD. (IN MEMBERS' VOLUNTARY LIQUIDATION) (COMPANY NO.: *****5762 D) Extract of the Minutes of on Extroordinorv General Meeting held at 8 Robinson Road, #0600 ASO Building, Singapore *****4, on the 29th day of
      453 words

  • Page 14 Advertisements
    • 3096 14 f (A limited liability company incorporated in Malaysia) The Group The Bank Commitments contingencies 2004 2003 2004 2003 rm noo RM'OOO RM 000 RM'OOO ,n normal course of business, the Group makes various commitments and incurs certain contingent liabilities with legal recourse to its customers No material losses are anticipated
      3,096 words
    • 25 14 GOOD CORPORATE GOVERNANCE Create greater transparency for your company by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. [Notices
      25 words

  • ASIA-PACIFIC/WORLD
    • 601 15 Minister says share sale revived after ruling party wins majority in Senate Bloomberg [SYDNEY] The Australian government want* to sell its As3o billion (5537.3 billion) stake in telephone company Telstra Corp in a single public offering. Finance Minister Sick Minchin said. The
      Bloomberg; REUTERS  -  601 words
    • 366 15  -  By CHUANG PECK MING [SINGAPOREI Thailaid's economy is on track tc expand 6.5 per cent this y?ar, thanks to a govermrent price-support scheme tiat will absorb the impaci of the recent oil hikes on .he country, according to Tiai Prime Minister Thakiin Shinawatra.
      366 words
    • 287 15 AP [NEW YORK] Google Inc had some IPO coattails after all. Initial public offerings just wrapped up one of their best weeks in some time, with 10 companies coming to the market, raising US$l.7 billion, and several soaring on their debut. It was an unexpectedly
      AP  -  287 words
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  • GREATER CHINA/INDIA
    • 413 16  -  By JEAN CHUA [SINGAPORE] CHINA needs at least three more interest rate rises but done gradually before over-invest-ment in the economy can be successfully reined in. But if a hard landing cannot be avoided, Asian economies will not be the ones to suffer the
      413 words
    • 550 16  -  CHINA INSIGHT Further cuts may be needed to cool investment JEAN CHUA Reporter THE interest rate rise in China last week was unexpected, but it couldn't have come at a better time. Indicators in the third quarter show that most sectors of the economy are
      550 words
    • 273 16 Reuters [BEUING] China will crack down on speculative capital mflows which have affected the, {fcj&tfpe of payments and disturbed government efforts to cool the economy, the country's foreign exchange regulator said yesterday. The conjments came as a top centraFbank official said China's
      Reuters  -  273 words
    • 562 16 Reuters INEW DELHI] Indian states vowed yesterday to implement value-added tax (VAT), the country's most ambitious tax reform in half a century, by April next year which analysts say will help repair their batterred finances and bridge a huge deficit. The
      Reuters; REUTERS  -  562 words
  • Page 16 Advertisements
    • 1470 16 /j=z^^^zrN| lO] HUP SENG HUAT CO. LTD Company Registration Number: *****1452 D 1(11 (Incorporated in Singapore with limited liability) NOTICE IS HEREBY GIVEN that the Eleventh Annual General Meeting of Hup Seng Huat Co. Ltd ("the Company") will be held at 116 Neythal Road Singapore *****3 on Tuesday, 23 November
      1,470 words

  • WORLD
    • 709 17 Oil f gold prices rose while US stocks, Treasury bonds and the dollar declined Bloomberg [NEW YORK] Under the presidency of George W Bush, oil has been a more rewarding investment than US stocks, Treasury bonds or the dollar. Since the former oil industry
      Bloomberg  -  709 words
    • 343 17 AP ICAIRO] Osama bin Laden, whose Al-Qaeda network carried out the Sept 11, 2001 attacks, proved he's kept a close eye on US politics as he detailed Al-Qae-da's strategy of bleeding America bankrupt. He provided a financial analysis of Al-Qaeda's destruction in his
      AP  -  343 words
    • WORLDWATCH
      • 75 17 AP [SHANGHAI] Beijing has approved a feasibility plan for Mercedes Benz to begin making sedans in the city in a joint venture with local partner BAIC Ltd, the Chinese company said yesterday. Approval from China's National Development and Reform Commission eliminates the last major
        AP  -  75 words
      • 72 17 AF [LONDON] Lord James Hanson, an industrialist whose business prospered by acquiring poorly run, low-tech companies and turning them into money makers, died at home on Monday after a long battle with cancer, his spokesman said. He was 82. Lord Hanson was the founder of
        AF  -  72 words
      • 93 17 Reuters [NEW YORK] Global financial services company Citigroup Inc is being sued by a fund management firm alleging it acted improperly in the sale of some shares, the Wall Street Journal reported yesterday. Globalvest Management Co, an emerging market fund manager, filed a US$3OO million
        Reuters  -  93 words
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  • AVIATION
    • 240 18 Reuters [SCARBOROUGH, Tobagol The global airline industry will lose about US$5 billion this year and more bankruptcies of carriers are likely, due in part to rising fuel costs, an International Air Transport Association official said on Monday. "We expected to have a
      Reuters  -  240 words
    • 416 18 City to upgrade airports as many airlines seek to add flights AP (SHANGHAI! Shanghai plans to expand its airports and increase access for domestic airlines as it manoeuvres to become a regional hub for air travel, the government said yesterday. Pudong International Airport, the newer
      AP; AFP  -  416 words
    • 427 18 AP [SHANGHAI] Airbus plans to set up an engineering centre in China next year to focus on new generation jets for the mainland's fastgrowing aviation market, the French aircraft maker said on Monday. The announcement was made at an air show in the southern
      AP  -  427 words
    • 287 18  -  By VEN SREENIVASAN [SINGAPORE] Singapore Airlines (SIA) has become the first South-east Asian carrier to offer non-stop flights between Singapore and the South African city of Cape Town. The carrier has converted one of its thrice-weekly Cape Town services via
      287 words

  • SHIPPING
    • 688 19  -  The bid is for 28.5% stake in ACT held by Hong Kong Land Holdings: SCMP By DONALD URQUHART [SINGAPORE] Despite signs that Hong Kong may soon be overshadowed by Pearl River Delta ports, PSA International is said to have
      HUTCHISON WHAMPOA  -  688 words
    • 607 19  -  STRAIT TALK By DAVID HUGHES IN recent weeks this column mentioned the need to project a better image of the shipping industry, the environmental issues facing the industry and also a number of social issues concerning crews. So the
      607 words
    • 211 19 [SINGAPORE] P&O Ports and French container line CMA-CGM have signed a 36-year concession with the Port Authority of Le Havre to equip and operate two berths and associated yard space as part of the first phase of the Le Havre Port 2000
      211 words
    • PORT SHOTS
      • 111 19 Xinhua [TIANJIN] A Panamanian container vessel ran into a Chinese cargo ship in bad weather on Sunday in the sealane of Tianjin Port, north China, causing dangerous chemical onboard to spill over, according to port sources. The Panamanian vessel loaded with containers collided head-on with an
        Xinhua  -  111 words
      • 59 19 AFP [MOSCOW] One sailor died and seven others were missing after a cargo ship sailing under the Cambodian flag sank yesterday off the coast of Russia's Far East region of Primoria, Itar-Tass news agency reported. The seven other members of the 15-man crew
        AFP  -  59 words
    • 271 19 -Bloomberg [LONDON] The crew of a liquefied petroleum gas tanker foiled an armed robber who tried to board the ship on Sunday at a port in Indonesia, the International Maritime Bureau (1MB) said in its weekly report. The attack happened at Santan at 9.50 pm,
      -Bloomberg  -  271 words
    • 196 19  -  By DONALD URQUHART [SINGAPORE] Growing container cargo volumes on the India trade have led APL to initiate a new direct service to India's key western gateway of Nhava Sheva. The move is in response to requests from shippers for more
      196 words
  • Page 19 Advertisements
    • 489 19 Call toll-free 1800 289 8822/ Email recrsitosph.coa.sg Standard Poor's is the world's leading credit ratings service with offices in 40 countries around the world, including seven in the Asia-Pacific region.The Corporate Infrastructure Ratings Team in the Singapore office assigns credit ratings to about 70 corporations in seven countries in the
      489 words

  • EDITORIAL & OPINION
    • 548 20 EDITORIAL CONVENTIONAL wisdom has it that if incumbent George W Bush wins the US presidential election, the stock market will rally because Republicans are known for their market-friendly policies. Such an occurrence is of course possible and to be sure, if enough people believe it and
      548 words
    • 1271 20  -  With an operating and financial review, management can satisfy investors' need for timely financial information without running the risk of erroneous estimates By PENELOPE PHOON FOLLOWING his speech at the SIAS (Securities Investors Association of Singapore) Investors' Choice Awards 2004 ceremony, it was reported in The
      AFP  -  1,271 words
    • 664 20  -  THE BOTTOM LINE FRANK CHING IT'S a dangerous world out there and, as China is finding out, it's getting more dangerous by the day. Beijing was shocked last month when terrorists believed to be linked to the Al-Qaeda terrorist organisation kidnapped two Chinese engineers working
      664 words
    • 1394 21  -  Many brilliant people like supercomputer designer Steve Chen are leaving the US to move to developing countries like China, India By JOHN MARKOFF NYT ADD Steve Chen to the growing list of America's hightechnology exports. Mr Chen, aTai-wanese-born United States citizen who was considered one of
      NYT; REUTERS  -  1,394 words
    • 257 21  -  LETTERS TO THE EDITOR Ngai Kok Leong Group Managing Director Total Automation Ltd WE refer to the Insider Market article "Selling up sharply, buying slows" (BT, Nov 1) by Robert Halili. The article mentioned that a director of Total Automation (TA) sold his
      257 words
    • 188 21  -  Denis Distant Singapore IT is common in shopping centres to find a DBS ATM alongside one from UOB or OCBC and inevitably there is a long queue at the DBS machine, presumably made up of POSB ATM cardholders. DBS must surely be aware of
      188 words

  • Page 21 Advertisements
    • 104 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletterGsph.coni.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore 3l 8994. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind
      104 words
  • Page 21 Miscellaneous
    • 189 21 CRYPTIC CROSSWORD DOWN 1 Books amateurish sort, not 15 a few hours perhaps on board Across: 1 Shipshape, 9 Rimose, 10 during morning (8) according to programme (9) Crustacea, 11 Apache, 12 Dare--2 Removed obstructions when 17 Secure display first that is at- devil, 13 Senior, 17 Lea, 19 Averit
      189 words

  • 3839 22 STRAITS TIMES INDEX STOCKS StodMWHDe Wl dose Change Stodi name Wt don Change AllgreenSOc 0 30 1050 +0010 NOL 2.13 2 950 BIL Intl US20c 0 45 0 960 +0 010 OCBC 10.52 13 800 +0 300 CapitaLand 1.28 1 890 +0.050 Parkway H 25c 0.69 1.460 +0.030
    3,839 words

  • 2537 23 FINANCE COMMODITIES Copyright© 1991 Morgan Stanley Capital International SGX DERIVATIVES TRADING OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Dec04 97.660 97.660 97.655 97.655 1047 ***** Mar05 97.425 97.425 97.415 97.410 882 ***** Jun05 97.240 97.240 97.225 97.225 996 ***** Sep05 97.065 97.065 97.045 97.045 917 ***** Dec05 96.860 96.860
    2,537 words

  • Page 24 Advertisements
    • 1726 24 I TO USA/CANADA i I EXPORT I I OTHER DESTINATIONS I |vcsa [VOT PUG |eTASM LONG BEAOIj DALLAS HOUSTON jMEMPWS |Qfl(AGO| NEW YORK TO AUSTRALIA (AUSTRALIA ASIA EXPRESS) IWNEDUOYD SOUTHAMPTON 44E45 OMIT 03/11 19/11 25/11 26/11 24/11 24/11 27/11 visjji VOY ETA SIM PKG —FIE BNE —SYD"~| —Mfl AM OOQHINGBO
      1,726 words
    • 895 24 IiWTWAtU KOHO SBtVKI vtssa/voY uma) hbcwhhu rue «n to aw jkt STUITSVfHTUK/14 IS 3.2 21/10 31/10 04/11 07/11 09/11 STVATTS VENTURE/IS 15 3.2 12/11 14/11 IS/11 21/11 23/11 STRAITS VEItTUK/U IS 3.2 25/11 27/11 02/12 05/12 07/12 WIST ASiA/MNOAIKOKO «V» YKSa/VOT I MWPffT) I HBGHT(M) I TOK KH KHH HUH
      895 words

  • Page 25 Advertisements
    • 989 25 MIX Combines o ronoe el tKippmg modes to Rnsure timely, reliable services covering major pods in Norm America, Europe, Japan, Asia, Africa Oceania. Also flCMpt hrtra-Aria Caryots to: BUSAfI MANGYANG SHANGHAI YAMIUN XUMM QMGOAO lEUWAN JAKARTA SUSAIAYA 55lSWH IAMOAOe iAIW CHAIAHG mKHIMHW PASW GUDANG PMAMG Wjff KBAN6 For Schedules BL
      989 words
    • 1401 25 VESSEL VOY SIN JKT HKGIKHH lit KYH WIS VESSEL VOY SIN JKT SUB HKG USN PUS HT PKOGKESS QB6S 4/11 t/11 11/1) 13/1)15/1117/1117/11 KOTC SINGAPORE 415S 6/11 7/11 10/11 16/11 20/11 21/11 HYIMDGE 085S 11/11 13/11 18/11 20/11 22/11 24/11 24/11 KMTC SHANGHAI 413S 14/11 17/11 18/11 23/11 27/11 28/11
      1,401 words
    • 977 25 m aoas%e WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS VtSStL VOY SIH PJILAN6 COLOMBO N. SHfVA COLOMBO HAIIV GANDHI QOB7W 07 NOV OMIT 07 NOV 10 NOV HJJfl* BAY BUDGE 003W WNOV OMIT 13 NOV UNOV 19 80V AUSTRALIA HIDGt 0081W 15 NOV 17
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  • Page 26 Advertisements
    • 769 26 IJUUkf WALLENIUS WILHELAASEN website: http://www.2wglobal.com YKSIL VOY RAMP MIGHT SW IK ~MAO~ HOW ~MDT~ SAV »Al ORf NTC NIW MOO TALISMAN AF422 3201 dm 6.3 M 16/11 20/12 27/12 2»/12 02/01 31/12 04/01 24/12 TARONGA A 1423 320T*s 6.25 M 30/11 25/12 04/01 11/01 12/01 16/01 14/01 18/01 00/01 TAME
      769 words
    • 1581 26 YlSStl VOY SIN _PGU JffSStt *01 SIR ill Of 2301 0052f 04/n 06/11 PAC S2Z2 9MJ fiZZJJ tkc imp* IS33W os/n os/n rACiAiJ iua fife/u oszli— MCIANDA 1334N 06/11 07/11 AIAMJATA 2 4221 OS/D 12/ li CSf 7301 0053f 07/11 08/11 PAOWTAN 9273 12/11 15/11 csi 2301 Mac eszii 10/
      1,581 words
    • 605 26 BSAi MYANMA FIVE STAR LINE (MyaiMiar National Line) Loading for Yangon VESSEL VOY SIN PKL PIN PGU PAGAN 336W OS/11 31/10 HPA-AN 326W SLD IN MALAYSIA: BOUSTEAD SHIPPING AGENCIES KUI/PKL 03-*****388 PEN: 04-*****1S MEKk. ACCEPTING CONVENTIONAL CfiO HKG SIN HKG SIN PGU PKL KUC OCEANIA QUEEN 12S SID SID SID
      605 words

  • Page 27 Advertisements
    • 1285 27 m rt fi Spore Agents lAL Aaeacy (S) Pte ltd (CR NO: **********4Z) I vfjl (I I 110(J W#lU3Bangkok lank Mfaa.Sko49S44 I crtiterasia w imMu/n w*biTt*: www.immi«n««».cf| SIS SSSi' viii'i'i.i'H' jjih Si BPNBMP rasa ¥Wo« koi au row w i watt wit ST«wi9bhqw MOIOAS6 5258 03/10 04/10 05/10 06/10 07/10
      1,285 words
    • 1060 27 r~a nr\7 I lIVICC MAIM:IlL: 6221-1333 FAX: 6221-5272 /|7 rU£. LI 111 CO wllln fm w CUSTOHa SHtVW: TIL 6221-5596 FAX: *227-4190 JL/cJ SINGAPORE: TOMG JOO SMPFMG PTE ITD atMtt 13/UwSoOOC vot roaiTio? I vissti vot ctasm law Ivcsa vot n> sw Imo Ivbbi I <or iroswltMcoiijl I 6HHOW 6
      1,060 words
    • 495 27 HBBWii^w^^MlMmni^rn/i^nT/i^ TIGER PEARL 231N 06-07/11 12-14/11 20-21/11 I ■MUMiI TIGER SKY 232N 09-10/11 16-18/11 23-24/11 I wTTTT™ TIGER SEA 233N 14-15/11 20-22/11 28-29/11 I ■■■■■TIGERSKY 234H 16 17/11 23-25/11 30-01/12 1 TIGER PEARL 23SW 20-21/11 26-28/11 044)5/121 in 1 19-21/11 29-30/11 ■RIMMMTIGER SPIRIT 094 1213/11 20-22/11 28-29/111 ■|UU|fi|TKßiaiF 009N 15-16/11
      495 words


  • MOTORING
    • 703 29  -  BT exclusive $25 million building in Toa Payoh will have lifestyle focus, reports SAMUEL EE SAMUEL EE Motor image Enterprises is spending $25 million to build a regional flagship Subaru centre in Toa Payoh complete with rooftop test track. Called the STi Centre, it
      703 words
    • 556 29  -  By SAMUEL EE SINGAPORE'S appetite for big cats is the strongest in the region, and it seems that the bigger the cat, the better the demand. The republic is the biggest market for Jaguar cars in South-east Asia and outsells Thailand. Malaysia, Brunei, Indonesia
      556 words
  • Page 29 Advertisements
    • 194 29 INITIAL PUBLIC OFFERING KERNELS OF BUB GROWTH SUM China Sun Bio-chem Technology Group Company Ltd. Bhl^B (Incorporated in the Cayman lilandt on 11 June 2004) China Sun Bio-chem Technology Group Company Ltd. ("China Sun") is a leading "C^Wtk modified starch producer in the PRC. in terms of the varieties of
      194 words
    • 19 29 I Jk &M« im ra m ■i Slcpnsy*Sl6p «3C6 RMlBWypqCMy tnSt QUI 9W»t(J[i6S your comptexiort, ixxifulA twd to faL^&OMßf'flirife-
      19 words

  • EXECUTIVE MONEY
    • 909 30  -  GENEVIEVE CUA The absence of an agency force has turned out to be a boon for Aviva. GENEVIEVE CUA looks at the insurer's performance A VIVA'S entry into Singapore in 2001 was greeted with some scepticism. It didn't have an agency sales force. It was banking
      FILE PHOTO  -  909 words
    • 1137 30  -  Here are some tips to make the trip more rewarding MONEY MATTERS ROY VARGHESE THIS past summer, my wife and I went on a driving vacation in the Berkshires in Massachusetts. Scenic country roads off the beaten track were inviting us for an adventure. Road
      1,137 words
    • 438 31  -  By Chua Boon Lee Standard Poor's Associate, Fund Services A weekly highlight of the top fund sectors am a 12-month period. Data from Standard tor's Fund Services. rm equity iiw itor. Hte Lucky Countiy*-appears to be wel and tniyde saved. As Hit rest of the world*s
      438 words
    • 1025 31  -  YOU AND THE TAXMAN The benefits may not be as attractive as they seem to be. Here are some points to consider By JULIANA NG, POK SOY YOONG AS businesses cross borders and transactions become multinational, international tax costs can severely erode the bottom line.
      1,025 words
    • 34 31 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
    • 946 32  -  Fixed income assets have delivered steady, albeit modest returns. A host of uncertainties have made it risky for investors to exclude these funds from their portfolios, reports GENEVIEVE CUA GENEVIEVE CUA THIS time last year, the weight of "smart" opinion was heavily against bonds given
      Source: S&P Fund Services  -  946 words
  • Page 30 Advertisements
    • 124 30 II Offers are Invited for an extremely I I attractive property centrally located In the I I heart of one of Queensland's most sought after coastal resorts Hervey Bay. B This block is currently vacant and offers astute investors a prime development opportunity. With triple street frontage and sea views,
      124 words


  • Page 32 Advertisements
    • 286 32 V\l S A Vf I \A/ \i/ No matter which industry you're in, we can taifor a training programme to suit your company's needs. Your employees are the main drivers of your company's profitability and growth. Increasing their skills and productivity translates Into increasing revenue and decreasing costs. After upgrading,
      286 words
    • 43 32 vJI INSURANCE MAnERS Aviva gaining market share PG 30 H WHERE, SURELY, WE HAVE THE TRUEST SUCCESSOR TO THE {^%a6»ie± GREAT RUSSIAN PIANISTS. 99 Gramophone BORIS BEREZOVSKY IN RECITAL PERFORMING CHOPIN ETUDES AND THE TRANSCRIPTIONS OF GODOWSKY PRINCIPAL SPONSOR —?iV PATEK PHILIPPE GEND/E
      43 words