The Business Times, 9 November 2004

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Total Pages: 32
1 32 The Business Times
  • 15 1 THE BUSINESS TIMES SINGAPORE 85 cents online at httpV/business-timesasial .com.sg MICA (P) 023/03/2004 Tue2 ¥*P¥s*£M?r
    15 words
  • 565 1  -  Gold hits 16-yr high, euro scales post-launch peak By LARRY WEE [SINGAPORE] The American dollar crashed across a broad front in Asian trading yesterday, earning precious little respite from an outstanding October US jobs number on Friday. Versus the Canadian dollar and gold, the
    Source: Reuters  -  565 words
  • 776 1  -  Divisiveness could threaten survival of SIA, Changi, he says By VEN SREENIVASAN [SINGAPORE] Management and unions at Singapore Airlines have to build trust and confidence in each other if Changi is to survive and thrive as an aviation hub, Minister Mentor Lee Kuan
    JOYCE FANG/ST  -  776 words
  • 133 1 sn 2.009.96 (-5.81) ST INDEX FUTURES 2,005.00 (unch) siMsa 240.74 (-1.18) SIMSa FUTURES 240.90 (-1.20) MARKETS Monday Change KLSECOMP 872.89 +141 NIKKEI 225 10,,983.83 77.94 HANG SENG 13.561.49 +66.54 SET INDEX 629JO -5.89 JAKARTA COMP 888.74 -4.90 MANILA COMP 1.812.16 -5.36 SEOUL COMP 846.11 -14.57 SHENZHEN B 223.91
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  • 46 1 TOP STORIES... PG 2,4 COMPANIES. PG6-10 MARKETS PG 8 SINGAPORE .....PG 12 ECONOMY PG 14 M'SIA PG 15-16 CHINA PG 17 INDIA PG 17 WORLD PG 19 AVIATION PG 20 SHIPPING PG 21 EDITORIAL PG 22 LETTERS PG 23 STOCKS PG 24-25 PROPERTY ..PG 30-32
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  • Page 1 Advertisements

  • TOP STORIES
    • 670 2  -  Economic ministers given 3 months to study areas for cooperation By SHOEB KAGDA in Jakarta SINGAPOREANS may eventually be able to invest in Indonesia with greater confidence, as talks are under way on an investment guarantee agreement. Prime Minister Lee Hsien Loong said
      ONG CHIN KAI/STI  -  670 words
    • 622 2  -  By DONALD URQUHART [SINGAPORE] A new body was launched yesterday as part of a push to make Singapore Asia's centre of maritime legal expertise and grab a £40 million (*****.6 million) slice of the annual maritime arbitration pie. The Singapore
      622 words
    • 42 2 IN Saturday's report, "Orchard Road 15th priciest shopping street", we inadvertently quoted the rent of prime shop space in Orchard Road as being U5531.50 per square foot per month. The value is in Singapore dollars. We are sorry for the error.
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    • 441 2 players, including 12 foreign-backed joint ventures. Insurance salesmen say the entry of private players has been a big boost, helping spread awareness about insurance and expand business. GREATER CHINA/INDIA, PG 17 DHL bids for majority stake in Indian firm DHL has agreed to pay US$l25 million for a
      441 words
    • 518 4  - Overseas exposure better corporate governance Rating firm says local outfits need to beef up disclosure, structural practices By JOYCE KOH [SINGAPORE] Local companies with lots of exposure to developed overseas markets tend to have better corporate governance since they are inclined to follow the best practices in those countries. Even
      CHRIS LOH  -  518 words
    • 769 4 G-10 BASEL MEETING Bloomberg [ZURICH] Central bank governors from the Group of 10 (G-10) nations meeting in Basel, Switzerland scheduled for yesterday may say that the global economy risks losing momentum next year as oil prices above US$5O a barrel crimp
      Bloomberg; AP  -  769 words
    • 598 4  -  By PAULINE NG in Kuala Lumpur MANY of Malaysia's listed small to medium cap companies have a lot to offer investors. But unfortunately, most investors remain in the dark as to their potential. So in a bid to create greater awareness of
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  • Page 2 Advertisements
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  • Page 4 Advertisements
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  • Page 5 Advertisements
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  • COMPANY NEWS
    • 428 5  -  Counter slides as much as 5.3% with heavy trade of 15.5m units By JEAN CHUA SHABES of China Aviation Oil (Singapore) skidded as much as 5.34 per cent yesterday on talk that the company may have suffered trading losses after the
      Source: Bloomberg  -  428 words
    • 545 5  -  Decision on dividend policy in early 2005: CEO By ANGELA TAN STARHUB, which was listed on the mainboard last month, has slashed its losses for the third quarter as it attracted more handphone, cable TV and broadband customers. For the three months ended
      545 words
    • 710 5  -  HOCK LOCK SIEW By ANGELA TAN SINGAPORE Telecommunications should have hogged the corporate news headlines on Friday after the telco unveiled the day before an impressive 62 per cent surge in net earnings for its fiscal second quarter. After all, its share price rose
      710 words
    • 364 6  -  Willie Teo claims $250,000; firm counterclaims in excess of US$3m By VINCE CHONG MAE Engineering said former executive chairman and director of the company, Willie Teo, has sued the group for alleged non-pay-ment of salary and certain reimbursements, under a service agreement dated September, 2001.
      FILE PHOTO  -  364 words
    • 329 6  -  By ANDREA TAN HELPED by exceptional items, Econ International which has been struggling with the construction downturn returned to the black for the six months ended September with a $7.1 million net profit, compared with a $16.8 million loss a year ago. The
      329 words
    • 335 6  -  By VINCE CHONG MAINBOARD-LISTED contractor CSC Holdings has bucked the general trend in the beleaguered sector by posting interim net profit of over $945,000 for the period ended Sept 30, up 50 per cent from $630,000 in the same timeframe a
      BLOOMBERG  -  335 words
    • 34 6 UNIT TRUSTS FUNDS LEGEND:All prices are indicative;Broadly Diversified; Narowly Focused;$ 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
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    • 616 7  -  Oriental Foods, Youcan, Comat offer shares at 20-25 cents each By JEAN CHUA THREE more China-based companies launched their IPOs yesterday, raising funds for expansion in their sectors food and building materials. Shandong-based pea-nut-products maker Oriental Food Holdings is raising a net $3 million through
      FILE PHOTO  -  616 words
    • 388 7 Bloomberg COSCO Corp Singapore Ltd, a bulk carrier and ship-re-pair unit of China's biggest shipping company, said third-quarter profit rose 73 per cent, driven by its Chinese shipyards and record demand for bulk ships. Net income increased to $12.1 million, or 1.11
      Bloomberg; FILE PHOTO  -  388 words
    • 647 10  -  Hospital group posts $12m net profit, maintains 1.5-cent dividend By ANDREA TAN SCHRODER Capital Partners Asia has no plans to sell its stake in Parkway Holdings for at least another year, said Anil Thadani, who is chairman of both
      FILE PHOTO  -  647 words
    • 529 10  -  By ROLAND LIM SHARES of Venture Corp dived 5 per cent to an 18month low of $15 yesterday after the contract manufacturer reported a surprise 27 per cent fall in net profit for the third quarter. Last Friday, Venture posted earnings of
      Source: Bloomberg  -  529 words
    • 470 10  -  By JOYCE KOH "WE are extremely lucky that Hong Kong has stringent gun laws." This is not the opinion of a well-mean-ing citizen but a company well-known for its refreshing tongue-in-cheek comments. Noble Group, a Hong Kong-based commodity trading firm, yesterday again
      470 words
    • 326 10  -  By CHEN HUIFEN HOMEGROWN brand name Akira which now boasts 2,600 consumer electronic products in its portfolio may soon be donning the frames of bicycles in Europe. That follows an announcement yesterday by TT International. which has signed a memorandum of understanding
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    • 295 10  -  By JOYCE KOH MAINBOARD-listed Mentor Media yesterday proposed a first-time l-for-5 bonus issue as its business was boosted by an increase in global outsourcing of supply chain services and growth in its market share in Singapore and China. The supply chain
      295 words
    • 369 10  -  By RAJU CHELLAM SINGAPORE-BASED semicon equipment maker Asti Holdings Ltd saw its thirdquarter net profit soar to $5.4 million, almost five times the $1.1 million it achieved in the year-ago period. The earnings surge came as revenue for the three months ended
      Source: Bloomberg  -  369 words
    • COMPANY RESULTS
      • 57 10 Net profit for the third quarter ended Sept 30 surged 25.8 per cent to $2.30 million, up from $1.83 million in the corresponding period in 2003. Hospital services account for the more significant part of the growth in Q3 2004, recording a revenue growth of 24.6 per
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      • 31 10 Net profit declined 20 per cent for its third quarter ended Sept 30,2004 to RM847.7 million (559.52 million) despite a 9.8 per cent rise in turnover to RM8253.4 million.
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      • 33 10 Group revenue and net profit for Q2 ended Sept 30, 2004 were HK5619.5 million (Ssl 31.7 million), up 41 percent, and HK$32.B million (up 17.7 per cent) respectively.
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      • 61 10 Net profit for the third quarter surged 93.1 per cent to $12.9 million with the group expecting revenue for the full year to cross $1 billion. The growth was driven by continued strong demand for wireless communication products and handsets which propelled revenue 190 per cent
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      • 43 10 Net profit for the third quarter rose 102.9 per cent to $5.9 million with turnover up by 53.6 per cent to $37.8 million. The group said the better financial performance was due to higher contributions from telecommunications and other segments.
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      • 82 10 Net profit saw a 45.95 per cent drop to $30.7 million on the back of smaller turnover of $62.2 million due to the subdued stockmarket environment in its third quarter ended September 2004. But the brokerage recorded a 21.9 per cent increase in net profit to $107
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      • 68 10 Higher revenue from its hotel and property businesses helped narrow its after-tax loss to $0.9 million from $2.7 million in the third quarter ended September 2004. The company said its flagship Orchard Parade Hotel achieved an average occupancy rate of 85 per cent, fuelled by an improvement
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      • 49 10 After tax profit was boosted by $0.6 million to $4.6 million in the third quarter ended September 2004 although it was affected by the hurricane season and provision for project overrun in the Americas. The company recorded a 14.5 per cent increase in revenue to $45 million.
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      • 36 10 Net profit more than doubled to $5.1 million from $2 million in its second quarter ended September 2004. The company attributed its strong growth to better market sentiments and expansion of its product base.
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      • 38 10 Net profit soared to RMB13.9 million (S$2.77 million) from RMB4.3 million in the third quarter ended September 2004 due to higher sale of drugs. The company reported a 42.1 per cent jump in sales to RMB69.1 million.
        38 words
      • 42 10 Net profit slipped 3.7 per cent to RMB20.7 million (S$4.13 million) in the third quarter of FY2004 from RMB21.5 million in the same quarter a year ago. Third quarter sales of FY2004 increased 14.1 per cent to RMB82.9 million.
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      • 41 10 The group achieved a 30 per cent increase in full-year net profit from $3.4 million to $4.5 million. This was on the back of a 4 per cent increase in turnover to $48.4 million from $46.6 million.
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  • Page 7 Advertisements
    • 292 7 COMAT INDUSTRIAL LTD. J I ■SKii^^H yl nl IA/m (Incorporated in the Republic of Singapore on 18 August 2004) MLrVn/,/ (Registration No: *****0428 C) ALUMINIUM SINGLE PANELS o»j' i-■»*•• ,j vs% M W/[ > 1 W A m psi? K1 I I I iijMfc vfc V A v j, v
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  • SINGAPORE MARKETS
    • 514 8  -  STOCKS US Fed's interest rate policy may impact market during the rest of this holiday-shortened week TEH HOOI LING Senior Correspondent SINGAPORE stocks ended lower yesterday, despite positive economic news coming out of the US. The Straits Times Index closed down 5.81 points at 2,009.96,
      Source: Bloomberg  -  514 words
    • Article, Illustration
      926 8  -  Compiled by JEAN CHUA Thakral Corporation Nov 8 dose: 11.5 cents PHILLIP SECURITIES, Nov 8 IN the first half of the financial year, Thakral's revenue and net profit grew by 4 per cent and 11 per cent versus the corresponding period last year. However, with rising cost of
      Source: Bloomberg  -  926 words
    • 420 8 CURRENCIES Reuters [MUMBAI] The Indian rupee slid from intra-day peaks after state-run banks, possibly acting on behalf of the central bank, stepped in to curb sharp gains, but the local unit still managed to end at a new five-month high yesterday. The rupee ended
      Reuters; AFP  -  420 words
    • TRADES TO WATCH
      • 93 8 INTEGRA2OOO chairman, chief executive and managing director Kwok Kah Kie bought 26,000 shares last Friday at 17 cents each on the open market, raising his direct substantial interest to 5.22 per cent from 5.2 per cent previously. This latest move follows his purchase
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      • 94 8 AGVA Corporation president and CEO Albert Lim Beng Guan purchased 100,000 shares on Nov 3 at 10.5 cents each on the open market, raising his substantial stake marginally to 48.28 per cent, from 48.23 per cent previously. Mr Lim had, during the first
        94 words
      • 64 8 PROGEN Holding's chairman and managing director Lee Ee, also known as Lee Eng, bought 338,000 shares on Friday last week at 17 cents each on the open market, raising his direct stake by 0.13 per cent to 28.76 per cent, or 78.2 million shares.
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      • 141 8 INVESTMENT firm Rowsley Ltd has raised its substantial stake in United Pulp and Paper to 11.44 per cent, from 10.21 per cent previously. The purchase of some 1.4 million shares in the open market on Nov 4 takes the firm's total stakeholding to 13.3
        141 words
      • 95 8  -  Compiled by VINCE CHONG SM SUMMIT Holdings chairman, managing director and CEO Lee Kerk Chong has raised his substantial direct stake to 10.9 per cent, from 6 per cent previously after the transfer of shares from an immediate family member yesterday. This brings his
        95 words
    • Article, Illustration
      432 8 OTHER SINGAPORE INDICES Nov 8 VALUE CLOSE BT OB/OS -216.00 +31.00 BT CADI -*****.00 -145.00 BT 10-day MA -*****.00 -22.00 All-SG Equities 517.91 -3.30 SG Equities Elect 150.89 -3.89 SG Equities Fin 1613.32 +5.66 SG Equities Prop 489.77 -2.16 SIMSCI 240.74 -1.18 SiMSCI Futures 240.90 -1.20 MOST ACTIVE STOCKS VOLUME
      432 words
    • 555 9  -  It uses up 16% or $80.6m of the $500m set aside in just six days By SIOW LI SEN UNITED Overseas Bank's (UOB) first share buyback has got off to an aggressive start the bank has already used up some 16 per
      555 words
    • 289 9  - HLF profit 6.1 up on lower bad loan provisions By SIOW LI SEN HONG Leong Finance (HLF) yesterday said third-quar-ter profit rose 6.1 per cent to $21.8 million on sharply lower charges set aside for bad loans. Net interest income and hiring charges for the quarter was 6.6 per cent
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  • Page 9 Advertisements
    • 1185 9 results noble Third Quarter 2004 'JJyJ group Today S answer to tomorrow S growth (Incorporated in Bermuda with limited liability) FINANCIAL HIGHLIGHTS 9 months 2003 vs. 9 months 2004 Turnover Net profit Gross profit Annualised return on Net profit for increased increased increased average equity for 9 months 2004 by
      1,185 words


  • SMALL CAPS
    • 873 11  -  Some analysts feel the chemical firm deserves a re-rating for its good showing, says WONG WEI KONG WONG WEI KONG LATEST earnings are up over four times for Singpu Chemicals, but would the market pay any notice? Last week, the company, the largest
      FILE PHOTO  -  873 words
    • 396 11  -  By TEH HOOI LING GAINS in First Engineering, Thai Village, Cosco and HTL helped our small-cap portfolio to eke out a 0.8 per cent gain compared with the UOB Sesdaq Index's loss of one per cent. This added another 1.7 percentage points to our outperformance
      396 words
  • Page 11 Advertisements
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    • 262 11 IWC. Official supplier to men. In former times, on the seven seas, the size of the instruments had a positive effect on the accuracy of navigation. So it is no surprise to find that everything in the Portuguese Perpetual Calendar with its mechanical movement is on a slightly larger scale.
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  • SINGAPORE NEWS
    • 527 12  -  The PAP must reinvent itself and adapt to a new electorate By CHUANG PECK MING SINGAPORE still needs a strong government even as people are given more say in running their own lives and becoming more self-re-liant, according to Prime Minister Lee
      REUTERS  -  527 words
    • 347 12  -  By CHEN HUIFEN SINGAPORE will be the first Asian city to take part in the Clipper 05-06 Round the World Yacht Race next year following the signing of a sponsorship agreement between the Singapore Tourism Board and Clipper Ventures. As
      FILE PHOTO  -  347 words
    • SINGAPORE ROUNDUP
    • 355 12  -  By CHUANG PECK MING EVEN bigger pay hikes in Singapore are likely next year as the economy gains strength, according to the latest survey by Hewitt Associates. But Singapore will still trail behind hot economies like India and China in salary jumps, the
      355 words
    • 287 12  -  By DANIEL BUENAS THE Nanyang Technological University (NTU) and Waseda University of Japan are teaming up to offer a new double masters programme in management of technology, the first time a Japanese university will be offering a degree outside Japan. The intensive full-time
      287 words
    • 198 12 SINGAPORE and Malaysia said yesterday they will cooperate to find ways to settle a land reclamation dispute, after receiving two expert reports on the issue. "Both governments will now study the reports and the recommendations made in them," according to a
      198 words
  • Page 12 Advertisements
    • 296 12 In Collaboration With C**n F«r Aptf Presents tiMM&CGS Official Opening Address by Y.A.B. DATO' SERI ABDULLAH HJ AHMAD BAD AW I Prime Minister of Malaysia Islamic Financial Products and Developments Bandakaful Islamic Financial Planning Around the Globe Market Trends and the Way The Sukuk Creating Global Islamic Bonds Forward Issuance
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    • 25 12 Till 11 LM %d I I I I I I 1 ■jj^^H kill k1 I ®l mm Hi Bill la. A ■H the Business times
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  • SINGAPORE FOCUS: INDUSTRIES
    • 1318 13  -  In S'pore, sales of liquid crystal display panels used in computers may cross US$90 million this year, up from about US$80 million last year. RAJU CHELLAM reports RAJU CHELLAM AFTER the depressing forecast in the global chip industry, it is now the turn of liquid
      REUTERS; FILE PHOTO; Source: iSuppli Corp  -  1,318 words
  • Page 13 Advertisements
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    • 165 13 Christmas k I TPITNTr^Q JL 1 \J 1 i V TyJ Christmas at Takashimaya WthThe Most Wonderful Gifts Of The Season "V This Christmas, share the warmth and joy of the holiday season filled to the brim with the finest ingredients from our Food Hall. Our hampers and giftboxes are
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  • ECONOMY WATCH
    • 522 14 US deficits will push America to pressure China, says top economist AFP [BEIJING] China and other Asian economies should brace themselves for possible severe trade friction with the United States due to large American trade deficits, a top US economist said yesterday. The spectre
      AFP; BLOOMBERG  -  522 words
    • 244 14 Reuters [SINGAPORE] Gold climbed to a fresh 16-year high in early Asian trade yesterday after the US dollar retested record lows against the euro, making dollar-priced gold cheaper for holders of other currencies. By 0126 GMT, spot gold was at U*****.50/434.25 an
      Reuters  -  244 words
    • 434 14 Reuters [LONDON] British business is facing increasing pressure to move jobs abroad to cut costs and there is no sign that this global trend is set to reverse, an industry survey showed yesterday. India and China top the list of destinations where
      Reuters  -  434 words
    • 578 14 AFP [PARIS] Eurozone indicators to be released in the coming week should confirm that the pace of economic growth slowed in the third quarter, economists say. In Britain, the coming week is expected to bring evidence of continued rises in upstream inflationary pressures alongside
      AFP  -  578 words
    • 441 14 10t won push calls for expanded public works spending AFP [SEOUL] South Korea unveiled a massive stimulus package yesterday in an effort to prop up the sagging economy and keep its growth rate above 5 per cent in coming years. The package calls
      AFP  -  441 words
    • 456 14 AP [SHANGHAI] China will selectively reduce spending to help trim its ballooning fiscal deficit, state media reported yesterday, citing top economic officials who also stressed Beijing's intention to keep its monetary and currency policies stable. The reports followed an economic planning conference
      AP; REUTERS  -  456 words
  • Page 14 Advertisements

  • MALAYSIA COMPANIES
    • 409 15  -  By PAULINE NG in Kuaia Lumpur AIRASIA is likely to have a smooth debut on Bursa Malaysia later this month despite a mishap that could have been potentially more serious last Sunday. The airline's skid off the Kota Kinabalu International Airport runway
      AFP  -  409 words
    • 4 15
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    • 516 15 11% earnings rise falls short of expectations after charges soar 46% Reuters [KUALA LUMPUR] Malaysia's biggest lender, Malayan Banking Bhd, yesterday reported all per cent rise in first-quarter profit, but the result fell short of market forecasts after a 46 per cent rise
      Reuters; AFP  -  516 words
    • 146 15 Bernama [KUALA LUMPUR] Petronas Dagangan Bhd's pre-tax profit for the half year ended Sept 30,2004, dropped to RM125.27 million (5554.5 million) from RM397.68 million in the corresponding period in the previous year. The decline was attributed largely to higher average cost of sales. However, its
      Bernama  -  146 words
    • 515 15 Adaptability, not size is the key to survival, says chief [KUALA LUMPUR] Southern Bank Bhd's competitiveness will see it succeed against the intensified competition in a liberalised Malaysian banking environment, its chief executive director said. Tan Teong Hean, in an interview with Malaysia's Business
      515 words
  • Page 15 Advertisements
    • 218 15 Be honest, how do you make financial decisions? If your current financial strategy depends At The Fry Group, we believe that a successon which way the wind is blowing, you might ful personal financial strategy depends on a need a helping hand from an expert. clever combination of the best
      218 words

  • MALAYSIA/INDONESIA
    • 735 16  -  INDONESIA INSIGHT As he works to build consensus, the new leader's economic vision is being put to the test SHOEB KAGDA Jakarta Correspondent INDONESIAN President Susilo Bambang Yudhoyono hasn't had the best of days recently as he struggles to build a working relationship with the
      REUTERS  -  735 words
    • 529 16 It hails new govt's financial measures and spending curbs Bloomberg [KUALA LUMPUR] Malaysia's foreign-currency rating has been raised one level to A- by Fitch Ratings, which praised Prime Minister Abdullah Ahmad Badawi's government for controlling spending and improving the performance of state companies.
      Bloomberg; REUTERS  -  529 words
    • 619 16 Bloomberg [KUALA LUMPUR] Malaysia's industrial production rose at its weakest pace in a year in September as mining barely grew. Output may slow further as record oil prices curb spending on electronics and other manufactured goods, analysts said. Output at factories, mines and
      Bloomberg  -  619 words
    • 228 16 Reuters [KUALA LUMPUR] Malaysia has called on pepper-exporting nations to adopt a self-imposed output quota to prevent oversupply, the country's Business Times reported yesterday. "It will be a voluntary cooperation among pepper-producing countries to work together to make sure that there is no oversupply
      Reuters  -  228 words
    • 202 16 Bloomberg [JAKARTA] PT Bakrie Sumatera Plantations is planning a sale of new shares to expand its business. The company, which has about 30,000 hectares of oil-palm plantations in Indonesia, expects to raise as much as 218 billion rupiah (Ss39 million) in a sale of
      Bloomberg  -  202 words
  • Page 16 Advertisements
    • 379 16 GitoMte 1800 289 8822 nßffli^EMil:Mtica«4kxoajg TTTHnSATTERO^™"™ THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF 496 NORTH BRIDGE ROAD PTE LTD (IN MEMBERS' VOLUNTARY UQUIDATION) MINUTES UNDER SECTION 179(6) OF THE COMPANIES ACT CHAPTER. 50 I, Kwek Leng Peck, the duly appointed Corporate Representative of Target Realty limited, the
      379 words

  • INDIA/GREATER CHINA
    • 60 17 AP Photo [HONG KONG] A piece by a Hong Kong graffiti painter Tsang Tsou-choi, known for his Chinese brush writings on Hong Kong's public walls, along with a photograph of his street work is seen in this picture provided by auction house Sotheby's Hong Kong branch yesterday.
      AP Photo  -  60 words
    • 601 17 Industry players say outlook remains bright in an under-insured economy where incomes are rising Reuters SURESH Jain, a life insurance salesman for two decades, says business in India has never been in better shape, four years after his stateowned employer lost its monopoly.
      Reuters  -  601 words
    • 196 17 AFP [BEIJING] China yesterday ordered restrictions on the indiscriminate use of farmland for other purposes in a bid to maintain its dwindling acreage and protect farmers. Urban residents are prohibited from buying agricultural land to build new homes, according to regulations issued by
      AFP  -  196 words
    • 615 17 Bloomberg [HONG KONG] Shun Tak Holdings, a property developer and ferry operator controlled by Macau gambling tycoon Stanley Ho and his family, said the company will buy real estate in Macau from Mr Ho for HK$l.5 billion (*****.6 million). The company will pay
      Bloomberg; SCMP FILE PHOTO  -  615 words
    • 301 17 Move will give it a foothold in the region's oil market Bloomberg [HONG KONG] Titan Petrochemicals Group Ltd, a Hong Kong-based garment maker turned oil-transpor-tation provider, said it will buy a Singapore-based oiltrading business from its chairman for US$25 million in
      Bloomberg  -  301 words
    • 448 17 Reuters [HONG KONG] Retail sales in Hong Kong grew 7.8 per cent by volume in the 12 months through September, the government said yesterday, higher than forecast and backed by record numbers of tourists. Consumer spending remains solid but many analysts foresee a
      Reuters  -  448 words
    • 318 17 AFP [NEW DELHI] General Electric Co (GE) said yesterday that it has sold a majority stake in its Indian outsourcing arm, GE Capital Services (GECIS), to two USbased private equity investment firms for US$5OO million. The pioneer in business processing in
      AFP  -  318 words

  • ASIA-PACIFIC
    • 327 18 Reuters [BANGKOK] Top Thai mobile phone operator Advanced Info Service PCL (AIS) reported a 9 per cent rise in quarterly profits yesterday as it increased subscribers, albeit at a slower pace as the market nears saturation. Analysts said the outlook
      Reuters  -  327 words
    • 735 18 Reuters [TOKYO] Two decades after the battle between VHS and Betamax, electronics makers are gearing up for another drawn-out video format war that is likely to confuse consumers and hinder the transition to next-generation DVDs. At stake is pole position in the
      Reuters; REUTERS  -  735 words
    • 418 18 Bloomberg Reuters [TOKYO] Japan has sold shares in Inpex Corp, an oil and natural gas explorer, raising 160 billion yen (552.5 billion) from selling the stock at the highest price sought, in the country's third-largest initial public offering this
      Bloomberg; Reuters  -  418 words
    • 695 18 Shareholders get to buy shares at half price if any party takes 15% stake Reuters [SYDNEY] Rupert Murdoch's News Corp yesterday moved to ward off any hostile bid from US cable company Liberty Media Corp with a plan to issue stock
      Reuters; AFP FILE PHOTO  -  695 words
    • 359 18 Xinhua. Reuters [BANGKOK] Thailand is working on a series of plans for the economic development of its violence-ridden southern regions, a local newspaper reported yesterday. "We are now considering a strategy to find incentives for the three southern provinces," Prime Minister Thaksin Shinawatra
      Xinhua.; Reuters  -  359 words
    • 394 18 Bloomberg [TOKYO] Mitsubishi Motors Corp's second-quarter loss has tripled after tighter credit in the US and the recall of 200,000 vehicles hurt sales. Japan's only unprofitable carmaker posted a 91.5 billion yen (Ssl.4 billion) loss for the three months ended Sept 30, up
      Bloomberg  -  394 words

  • WORLD
    • 663 19 It is expected to raise short-term rates by a quarter point to 2% tomorrow but keep options open for Dec and next year NYT [WASHINGTON] If there is a good rule of thumb about the Federal Reserve Board, it is this: a startling economic
      NYT  -  663 words
    • WORLD WATCH
      • 122 19 AFP [NEW YORK] Microsoft said it would pay a settlement of US$536 million to Novell to resolve an anti-trust dispute between the software companies involving Novell's NetWare operating system. Novell agreed to end its claims over Microsoft's harm to NetWare a system used for
        AFP  -  122 words
      • 88 19 AP [LONDON] British telecommunications company BT Group pic said yesterday it is buying US-based Infonet Services Corp in a deal that values the company at US$965 million (Ssl.6 billion). Infonet, a leading provider of global communications services, has a net cash balance of US$39O
        AP  -  88 words
      • 104 19 Reuters [NEW YORK] Walt Disney Co is looking to increase its investment in the development of games for hand-held devices, and plans to look for acquisitions of small game publishers and developers. Andy Mooney. chairman of Disney's consumer-products unit, told the Wall Street Journal
        Reuters  -  104 words
      • 64 19 AP [ALBANY, New York] Eight eßay sellers were ordered to pay nearly US$9O,OOO in restitution and fines after admitting they bid up products online to inflate the prices. New York Attorney-General Eliot Spitzer said more than 120 people will receive restitution in the
        AP  -  64 words
    • 54 19 [PARIS] Pearl and diamond earings of the late US opera singer Maria Callas presented at Sotheby's in Paris. Some 10 sets of La Callas's jewels belonging to an anonymous collector are on a world presentation prior to an auction sale at Sotheby's, Geneva planned
      AFP  -  54 words
    • 290 19 AP. Bloomberg [BANGALORE] India's second largest software exporter, Infosys Technologies, plans to increase the availability of its shares on New York's Nasdaq stock exchange. To achieve that it will drain the Indian stock markets of 16 million shares, or nearly 6 per cent, of
      AP.; Bloomberg  -  290 words
    • 322 19 [LONDON] A 1 Gore, the former US vice-president, is to put his expertise in global sustainability issues into practice with the launch of a fund management firm, says the Financial Times. Mr Gore has teamed up with David Blood, former chief executive of Goldman
      AP  -  322 words
    • 355 19 SEC PROBES Brokers suspected of failing to get best price for customers NYT [NEW YORK] The Securities and Exchange Commission is investigating about a dozen brokerage firms including Morgan Stanley, Merrill Lynch. Ameritrade, Charles Schwab and E*Trade Financial on suspicion they failed to
      NYT  -  355 words
    • 282 19 Reuters [NEW YORK] US regulators and the office of New York State Attorney General Eliot Spitzer have launched probes into products sold by insurance companies that help customers enhance their financial statements, the Wall Street Journal reported yesterday. Citing people familiar with the
      Reuters; BLOOMBERG  -  282 words
    • 359 19 [CHICAGO] With prices for agricultural commodities at record highs, the Chicago Board of Trade (CBOT) is refocusing on agricultural futures. The world's largest agricultural futures exchange is looking at developing a Black Sea wheat futures contract in a plan to expand access to
      359 words

  • AVIATION
    • 368 20 DHL S'pore to pay US$125m for 68.2% stake in Blue Dart Reuters [MUMßAl] DHL has agreed to pay US$l25 million for a majority stake in Indian courier firm Blue Dart Express Ltd, sparking a rally in its rivals on hopes of consolidation
      Reuters; REUTERS FILE PHOTO  -  368 words
    • 348 20 Reuters [HONG KONG] Air passenger numbers will grow again in 2005 but the global airline industry will only post its first profit in five years if oil prices drop by some US$l5 a barrel, an industry expert said yesterday.
      Reuters  -  348 words
    • 311 20 Bloomberg [LONDON] British Airways, Europe's second largest airline, said second-quarter profit gained 26 per cent after the carrier cut jobs and reduced costs. Net income rose to £123 million (*****.4 million), or 11.2 pence a share, in the three months ended Sept
      Bloomberg; BLOOMBERG FILE PHOTO  -  311 words
    • LOG BOOK
      • 150 20 Bloomberg. Reuters [SINGAPORE] Singapore Airlines and its regional unit Silk Air Pte will increase a fuel surcharge levied on all flights to help cover a 37 per cent rise in jet-fuel costs since June. Flights between Singapore and South-east Asia will rise to US$lO
        Bloomberg.; Reuters  -  150 words
      • 142 20 AFP [MANILA] A Cebu Pacific Airways commercial jet on a domestic flight lost part of its tail shortly after landing in the central Philippines yesterday, causing panic but no casualties, aviation officials said. The DC-9 safely taxied to the passenger ramp at Tacloban airport
        AFP  -  142 words
      • 79 20 Bloomberg [PARIS] Air France SA, which bought KLM Royal Dutch Airlines in May to create Europe's largest airline, said October passenger traffic rose 6.4 per cent, the 15th consecutive monthly increase, on demand for long-haul flights. The load factor, or proportion of seats filled,
        Bloomberg  -  79 words
    • Article, Illustration
      46 20 [GHAZIABAD. India] Members of the French Aerobatics Team displaying their skills at Hindan Airbase in Ghaziabad. 20 km east of New Delhi, on Sunday. FAT flew alongside its Indian counterparts. The Suryakirans. the third such display for the French team in four years. AP
      AP  -  46 words
    • 345 20 Reuters. Bloomberg [PARIS] European aircraft maker Airbus is poised to win a US$5.2 billion order from Malaysia's Air Asia for its A 320 short-haul aircraft, pushing out US rival Boeing who had previously been the budget airline's sole supplier, the Wall Street
      Reuters.; Bloomberg  -  345 words
    • 234 20 Bloomberg [NEW DELHI] The Wadia family of India, which owns stakes in a textile company and a cookies maker, plans to start a discount carrier next year as demand for air travel rises in Asia's fourth-biggest econo*my. The Wadia group has sought the approval
      Bloomberg  -  234 words
    • 387 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
      387 words

  • SHIPPING
    • 598 21 60 ships backed up after incident, Egypt stands to lose US$7m every day Bloomberg, AFP [SINGAPORE] Shipping through Egypt's Suez Canal was halted for a second day after an oil tanker ran aground, clogging the waterway and delaying traffic, officials and government newspapers said. The
      Bloomberg,; AFP  -  598 words
    • 287 21  -  By DONALD URQUHART [SINGAPORE] A change of mindset is needed in Singapore's marine industry if it is to meet and beat the ever intensifying regional and global competition, said the head of the Association of Singapore Marine Industries (ASMI). Speaking at ASMI's
      287 words
    • 293 21 SGX '000 Wo»« S$ ♦>- Vol CH Offshore 0.39 unch 1377 Chuan Hup 0.66 unch 888 Cosco Corporation 1.10 unch ***** CWT Distribution 0.56 -0.01 50 Ezra Hldgs 1.15 unch 42 Freight Links 0.10 unch 601 Grand Banks Yacht 0.83 -0.02 5 Jaya Holdings 1.03 0.01 929 K1
      293 words
    • 673 21 They may rethink expansion plans because of slow cargo clearance Reuters [HONG KONG] Port congestion is deteriorating yet again around the world, which may force steel mills to review their production plans for next year and their future expansion projects, especially as coking
      Reuters; AFP FILE PHOTO  -  673 words
    • 533 21 Bloomberg [SEOUL] Hyundai Heavy Industries, the world's biggest shipbuilder, said jt won a 630.6 billion won (*****.5 million) order to build eight vessels for Nippon Yusen K K, Japan's largest shipping company. The ships, each with capacity for 4,900 20-foot
      Bloomberg; FILE PHOTO  -  533 words
    • 445 21 Bloomberg [SYDNEY] Australia's national competition regulator gave interim approval to a coal terminal operator at Newcastle port to continue a quota system into 2005 to help reduce shipping queues. Port Waratah Coal Services will be allowed to auction capacity at the terminal for
      Bloomberg  -  445 words

  • EDITORIAL & OPINION
    • 506 22 EDITORIAL CHINA sent a prompt congratulatory note after George W Bush was re-elected US President, saying it is ready to "enhance exchanges and cooperation" and "properly address each other's concerns", so as to better "benefit the peoples of both countries and the world at large". But it
      506 words
    • 1228 22  -  Labour-saving efficiencies and antiquated laws are hampering job creation in manufacturing By JOHN LANCASTER LAT-WP OUTSIDE the grounds of Sundram Fasteners Ltd in the south Indian city of Chennai, it looks like anywhere else in urban India: wandering cows, tiny Hindu shrines, streets clotted with bicycles and
      LAT-WP; AFP  -  1,228 words
    • 770 22  -  THE BOTTOM LINE SHADA ISLAM Brussels Correspondent EUROPEAN Union (EU) leaders are certainly making the right glowing comments about the re-election of US President George W Bush. But make no mistake: Only stalwart US allies such as British Prime Minister Tony Blair and Italy's
      770 words
    • 1099 23  -  Returns are inflated and there is also a lot of bias in how they are reported, says top economist By JOHN F WASIK Bloomberg Burton Maikieiis looking for a few realistic hedge fund indexes. The Princeton University economics professor and author of the classic Random
      Bloomberg; AFP  -  1,099 words
    • 360 23  - Why single out maids' employers LETTERS TO THE EDITOR Urmila Babu Singapore I RECEIVED a letter from the Ministry Of Manpower (MOM) recently saying I will have to comply with additional requirements if I apply for a maid because I have changed maids frequently this year. I replied, explaining the
      FILE PHOTO  -  360 words
    • 112 23  -  Denis Distant Singapore I REFER to the report that Temasek is raising $800 million from Sing Tel shares, "Temasek to place out Sing Tel shares" (BT, Nov 5), and, in disbelief, can only respond with: Come on Temasek, give us a break! Don't be a
      112 words
    • 319 23  -  Narayana Narayana Singapore TAN Kok Tim's letter, "Isn't it time to scrap basic courtesy laws?" (BT, Nov 2), offers scope for some reflection and thought, although it is debatable if the time for action along the lines suggested by him has arrived. It may not
      319 words

  • Page 23 Advertisements
    • 103 23 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletterOsph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel
      103 words
  • Page 23 Miscellaneous
    • 331 23 CRYPTIC CROSSWORD 1 They may well incense revered j j j p ~j ÜBIT figures (4-6) BB~"~"bBI BB 881 9 A passenger for the Orient? (4) MB MB MB BB BB j j 10 Being doddery, need caring fl^ younger relation (5-5) j j I 11 Do battle for commission
      331 words

  • 3853 24 STRAITS TIMES INDEX STOCKS Stodi nam* Wt dose Change Stock rame Wt Oof Chug* Allgreen 50c 0.30 1.060 -0.030 NOL 2.18 3 040 BIL Intt US20c 0.45 0.955 OCBC 10.52 13.900 +0.100 CapitaLand 1.31 1.950 Parkway H 25c 0.67 1.440 -0.030 Chart SemiCond 26c 0.78 1.020 People's Food
    3,853 words

  • 2868 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES totooiorr m Si I* USt dy *yr dy yr dy %V Nov S lm)w Chmqe Oxng« Chang* Puny Chang* Cn»n9« World IndaPrefownay OIJ 04 5.5 OS 4.1 Oi 6-8 UAKMnway 750.0 0.6 6.9 0.8 68 09 9.6 Europe Preliminary ***** 0.S 6.7 M
    2,868 words

  • Page 26 Advertisements
    • 1600 26 I IMPORT ~l NORTH AMERICA I 11 AUSTRALIA/NEW ZEALAND I ciidcd cuiif n c cyddccc leeyi SUFEH SHUTTLE EXrrreoa (SSX) AUSTRALIA ASIA EXPRESS (AAX) VESSa VOY IGB SIN PKG i ZTZZ *****; VESSEL VOT »Ht STD Mil MX. FRE SW PKG fififi NlMfitfi 04W47 26/10 13/11 OMIT 00a HAMUBG MW43
      1,600 words
    • 867 26 iIWTIRASIA ROUP SWVICI Vtssa/VOY tAMTgI) hbghtw kg «h to I sw I jkt 1 STtAITS VENTUK /15 15 3J 12/11 11/11 11/11 23/11 STtAfTS VEMTURE /H IS 3.2 25/11 27/11 02/12 OS/12 07/12 |SHAITSVtWTUK£/17 IS 3.2 W/12 12/12 11/1? IVI2 21/12 WEST ASIA/BENOAI ROUP SVS VRSa/VOT tAMPfIfQ HBGHT(M) I YOK
      867 words

  • Page 27 Advertisements
    • 886 27 MOL Combines a rang* of shipping mocks to ensure timely, reliable services covering major ports in Nonfi America, Europe, Japan, Asia, Africa 4 Ocßonoo. Abt flccapl krtnHbk C«fMS tK For Schedules, BL Searches, and Container Tracking, visit on our Home Page^flQg2^ragl»j2^™li2—, www.homburgsud.com ASAf savia fflH»n HtHhr 165) 6222-2013 "SAFE SERVKE
      886 words
    • 1275 27 I VESSEL SN PKG I GOLDEN GATE 1433N I 10/11 111/11 1 13/11 I-I- I NEW DYNAMIC 1 A73A TT7TI 13/11 I GOLDEN TRADE Tfflj I H/ll 117/11 119/11 I- I PERTH BRIDGE 067 A liTfT 20/11 HERTFORD 173/11 124/11 I M/li I_l_ I 11 NEW DYNAMIC 074 A 25/11
      1,275 words
    • 950 27 w scsas^ WEEKLY EXPRESS SAIUNG SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS rasa I voy 1 mm pjuamgl Colombo Iw. sheva Colombo MlLBfif 003W 10 NOV OMIT I4NOV I7NOV 20NQV ADSTKAUA HIDGE QOtlW IS NOV 17 NOV 20 MOV 23 HO* 26 NOV KOttfBWHA YPWOS3 22 NOV
      950 words

  • Page 28 Advertisements
    • 763 28 VUW WALLENIUS WILHELMSEN website: http://www.2wglobol.com vtssa vot ramp hbght sin lbc~ map how mi* sav ial ort mtc mew wot TALISMAN AF422 3201 MS 6.3 M 17/11 20/12 27/12 21/12 02/01 31/12 04/01 24/12 TARONGA AM23 3201 MS 6.25* 30/11 25/12 04/01 11/01 12/01 H/01 14/01 11/01 01/01 TAMESIS AF424
      763 words
    • 1206 28 JSSSfi M SKL CSL— JffSSa W an MT CSff 2301 0052 SZZII mil PACIAU UJJ 06/11 03/11 Of 2301 0054P 9SZI3 IML_ Al AMlffl 7 mi fiSill 12ZJJ PAC3ANOA 1336N M/n W/ll n(MITAH 9212 12/11 is/11 MCIANPA \rn 19/JJ IM|— PACMU <'«> '3/1' of 2301 HUE li/ii mrn^rrmnmwm^mmm PAC I
      1,206 words

  • THE BUSINESS TIMES SHIPPING TIMES
  • Page 29 Advertisements
    • 76 29 TUVALU SHIP REGISTRY a QUALITY SERVICE ai V .QUALITY FLAG t 7 '~Zn j '^i. Round the clock service Staffed by qualified professionals with many years of experience in ship registration Wide network of surveyors I classification societies No restriction on nationality of ownership Accedes to latest international conventions regulations
      76 words

  • PROPERTY
    • 595 30  -  Investor also plans to inject fresh funds into Crown Prince Hotel owner and revamp property after settling OCBC/GE loan, reports KALPANA RASHIWALA KALPANA RASHIWALA CORONA Property Investments, which recently settled $180 million of debt extended by OCBC and Great Eastern to the owner
      ARTHUR LEE  -  595 words
    • 569 30 Reuters [SYDNFY] Australian property group Stockland Trust launched a A 57.46 billion (559.4 billion) takeover bid for General Property Trust (GPT) yesterday, topping a rival bid by developer Lend Lease Corp Ltd. Stockland, Australia's third-largest listed property trust, said its all-share
      Reuters  -  569 words
    • 145 30 Bloomberg [LONDON] UK home prices grew at a faster annual pace in September than the previous month, the government said. The average cost of a home rose 13.8 per cent to £179,201 (*****,900) after increasing an annual 13.6 per cent the
      Bloomberg  -  145 words
    • 725 31  -  Property agents tell VINCE CHONG that activity in the overseas property market has returned to pre-Sars levels VINCE CHONG INTEREST in overseas properties is stirring, but while demand still falls far short of the golden days of the 1995/96 peak, due partly to rising property
      BLOOMBERG  -  725 words
    • 174 31 AN industrial site under the Government Land Sales Programme has been offered for sale at a minimum price of $12.3 million. The 116,250 square feet site at Lower Delta Road was originally on the reserve list. The last time an industrial site was sold
      174 words
    • 930 32  -  The number changing hands this year is set to beat last year's figure, reports ANDREA TAN ANDREA TAN FIFTY good class bungalows (GCBs) worth just under $400 million found new owners in the first nine months of the year. This is a jump of
      930 words
    • 390 32  -  By VINCE CHONG CITY Developments Ltd and AIG Global Real Estate Investment have sold 12-14 homes from their Sail@Marina Bay project after it was released in Jakarta last Friday. Only two floors comprising 22 homes, out of some 250 Phase
      390 words
  • Page 30 Advertisements
    • 151 30 We know all about your obsession. Cafe Vic's Ocean's Eleven is a sensual gastronomic joyride for serious seafood aficionados. All November, we bring you the freshest catch the ocean has to offer, and it's seafood as you like it. Choose from a showcase of live seafood ranging from Canadian Crabs,
      151 words
    • 704 30 A LINKS ISLAND HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number *****6289K) NOTICE IS HEREBY GIVEN that an Extraordnsry General Meeting ("EGM") of LINKS ISLAND HOLDINGS UMITED (the "Company") will be held at 10 Eunos Road 8 #05-31 Singapore Post Centre Singapore *****0 on Thursday, 2 December
      704 words
    • 426 30 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SIEMENS INTELLECTUAL PROPERTY TECHNOLOGY CONSULTING PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50 that the Final Meeting of Members of
      426 words
    • 502 30 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF ELECTRICAL SERVICES AND PRODUCTS (SINGAPORE) PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50 that the Final Meeting of Members of
      502 words

  • Page 31 Advertisements
    • 308 31 As tended by S® I Hie MeAoditfCwidi in Singapore s rz? 1 •Site Area: 5,627.5 sm approx. jl" •Tenure: 999 years m* Ct<tlll)l 2003 MP: Residential, PR 1.4, 5-storeys o** Odnw Invitation for Submission of JV Proposal for Redevelopment of Site. A*ywyww» Sobnnission closes: .<•*' 6 Friday, 10 Decennber 2004,
      308 words
    • 231 31 OFFICE SPACE AT THE HEEREN 260 ORCHARD ROAD From 700 to 7,700 sq ft Bare fitted units available Column free layout Raised flooring 5 mins. walk to Orchard Somerset MRT Magdalene 6539 7222 Jalana 6839 7223 Swm Cheng Management Pte Ltd Ideal for small to |||?KQofflsOffj I n Ji consultancy
      231 words
    • 181 31 Wk Prime Suburban Condominium n Site at Palm Grove Ave 999 years with effect from 2/12/1878 I S' te area 45,216 sqft S Res c ent a P' ot ratio 1.4 (up to 5/sty) W Jjk Possible development: Cluster Housing/ Condominium development i I Located in an established and sought
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    • 44 31 THE NEPTUNE COllYil Q.U A Y DIANXIN AT THE NEPTUNE Enjoy excellent lunch and dian xin served on trolleys. Reservations: 6224 3203 Ijfcfe) WM mi&kvom C&ytrOut Managed by Meritus Mandarin Singapore 7th Floor, Overseas Union House, Collyer Quay Singapore *****1 Tel: +65 6224 3922
      44 words