The Business Times, 11 November 2004

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Total Pages: 28
1 28 The Business Times
  • 12 1 THE BUSINESS TIMES $MGAKMEBSafIfc onfine at liUiii/busincs-tinwviKHliPßisg MCA *****0004 Ihuisfa* Nmmte 11„2001
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  • 709 1  -  Their total earnings hit $1.06b; with OCBC contributing $324m By SIOW LI SEN [SINGAPORE] OCBC Bank yesterday posted thirdquarter earnings of $324 million, pushing the combined total of the three local banks to $1.06 billion, up 15 per cent from a
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  • 848 1  -  Judge accepts defences against defamation action By WONG WEI KONG [SINGAPORE] Tycoon Oei Hong Leong has lost his libel suit against Nat Steel director David Ban, 98 Holdings, Singapore Press Holdings (SPH), and former Business Times journalist Catherine Ong over a BT article on June
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  • 137 1 sn 2.022.99 (+11.48) ST INDEX FUTURES 2,019.00 (+14.00) simso 241.82 (+1.06) SIMSO FUTURES (+0.90) MARKETS Wednesday Change KLSECOMP 882.23 +5.92 NIKKEI 225 10,994.96 +30.09 HANG SENG 13,672.37 +155.70 SET INDEX 625.78 -7.16 JAKARTA COMP 918.73 +17.33 MANILA COMP 1,779.18 -9.85 SEOUL COMP 860.54 +16.39 SHENZHEN B 235.03 +9.45
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  • 47 1 TOP STORIES...... PG 2 COMPANIES PG 3,4,7 MARKETS PG 6 BLUE CHIPS PG 8 SINGAPORE PG 9 ECONOMY PG 10 M'SIA/INDON.. PG 11 INDIA PG 13 WORLD PG 15 AVIATION PG 16 SNIPPING PG 17 EDITORIAL ..PG 18.19 STOCKS......G 20-21 BIZIT PG 26 PROPERTY.. PG 27-28
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  • Page 1 Advertisements

  • TOP STORIES
    • 318 2  -  It also recommends giving incentives to help low-cost air carriers grow By NANDE KHIN, DANIEL BUENAS [SINGAPORE] A 17-mem-ber advisory council to the Singapore Tourism Board (STB), which held a twoday meeting here last week, has "unanimously supported" the development of an
      318 words
    • 713 2  -  COMMENTARY ExxonMobil boss Lee Raymond goes back to the 1970s to define it By RONNIE LIM WHAT do you ask the head of the world's largest energy company? Obviously, where oil prices are headed next. And how come no one is calling this a
      713 words
    • 604 2  -  By PAULINE NG in Kuala Lumpur INVESTMENT company Temasek Holdings and Malaysian banking group CIMB will set up a RMI billion (***** million) private real estate fund to invest in undervalued properties in Malaysia and the Asean region. Both parties said the primary focus
      604 words
    • 351 2  -  By EDDIE TOH, PAULINE NG FORMER Malaysian stockbroker Nizam Razak Temasek Holdings' partner in the drawn-out bid to buy banking group Malaysian Plantations still hopes to secure regulatory approvals, even though Malaysia's central bank prefers bank institutional owners with deeper pockets.
      351 words
    • THREE-MINUTE DIGEST
      • 67 2 HELPED by a tripling in profit at its hotel arm, City Developments posted a 27 per cent rise in third-quarter net profit to $52.4 million. Its net earnings for the first nine months of this year increased 43.8 per cent to $129.5 million,
        67 words
      • 67 2 SINGAPORE Telecommunications will become the biggest shareholder of Globe Telecom, paying 6.65 billion pesos (Ssl96 million) to raise its stake to 45.05 per cent from 40.05 per cent. Sing Tel said its wholly owned subsidiary, Singapore Telecom International, has agreed to buy
        67 words
      • 98 2 AMID the festive season, some banks here are coming up with new credit cards to appeal to the holiday mood. Banking on the frenzied interest surrounding Microsoft's launch of its new video game. Halo 2, at midnight on Tuesday, Maybank came up
        98 words
      • 61 2 MALAYSIA International Shipping Corp, the world's largest carrier of liquefied natural gas, said its quarterly profits jumped 27 per cent amid increased demand and rising shipping rates. Malaysia's fourth-biggest listed firm, valued at nearly US$7 billion, said net profit in its fiscal second quarter to
        61 words
      • 66 2 INDONESIA will start negotiating free trade agreements next year with its major trading partners as part of a plan to play a stronger role within Asean and globally. Trade Minister Man Pangestu noted that under President Susilo Bambang Yudhoyono, Indonesia would pursue an aggressive
        66 words
      • 75 2 CHINA has set up a framework to allow corporate pension funds to invest in the US$46O billion stock market under new guidelines unveiled yesterday, the latest initiative to support and develop lumbering capital markets. Once implemented, pension funds estimated at
        75 words
      • 103 2 EVEN if American voters didn't, the markets are imposing their own verdict on President George W Bush's ability to tackle the twin economic deficits that is causing the dollar to sink to new lows. Our Tokyo correspondent Anthony Rowley says that while Japan
        103 words
      • 63 2 AUSTRALIAN home-loan approvals declined in September, adding to signs that the housing market is cooling as property prices fall following interest-rate increases last year. The number of loans for owner-occupiers to build or buy homes and apartments fell 0.6 per cent to 49,338 from
        63 words
      • 44 2 ASIAN property remained hot in the third quarter but rising fuel costs could cool things down. Jones Lang La Salle says that while the market remained solid, signs of moderation have crept in. PROPERTY, PG 28
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  • Page 2 Advertisements
    • 80 2 Incorporation services in all major jurisdictions Global network of offices Ready-made companies available Management and administration services China business registration Accounting and trade support services Virtual office solutions Personal and corporate bank introductions TO ARRANGE A FREE CONSULTATION CONTACT: Simonne Toh T: +65 6535 3382 F: +65 6535 3991 E:
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  • Page 3 Advertisements
    • 190 3 I MP** v ».> Br« •u fiJI I ink iiJej I 1 L m r 9|, t* "fl 1H yjSk m < BBS*BBS I IP I 9 f I IPP IJW? HP* Association J ■Kr m n^m^Bß^Buß Show highlights 1 Get up dose to the latest models, concept cars, world
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  • COMPANY NEWS
    • 887 3  -  High Court schedules company's AGM for Dec 2 By VINCE CHONG The High Court has suspended an injunction against lawyer Chandra Mohan s/o Rethnam acting as a director of Wee Poh Holdings, the construction company said yesterday. Wee Poh said in a
      887 words
    • 679 3  -  HOCK LOCK SIEW By R SIVANITHY ONE common gripe often heard when stocks move in an unusual manner ahead of a significant announcement is that, somehow, the information was leaked and that privileged parties benefited. Another common complaint is the cornering of penny stocks, together with the related
      679 words
    • 696 4  -  Performance is in line with improved bottomlines of most property groups By KALPANA RASHIWALA HELPED by a tripling in profit by its hotel arm, City Developments yesterday posted a 27 per cent rise in thirdquarter net profit to $52.4 million. Its net earnings
      696 words
    • 367 4  -  By ANDREA TAN FORTUNE Reit, Singapore's first offshore property trust, turned in a 0.2 per cent increase in distributable income to HK$37.B million (SsB million) in the third quarter, marginally beating its own forecast by 1.6 per cent. Shareholders of Fortune, controlled by Hong Kong
      367 words
    • 790 4 Bloomberg [HONG KONG] The Hong Kong government plans to raise US$2.B billion selling shares in the city's first real estate investment trust, taking advantage of rising property prices to plug a deficit, officials involved in the sale said. The real estate investment trust
      Bloomberg; BLOOMBERG  -  790 words
    • 551 7  -  Latest 6.65b pesos investment makes SingTel the biggest Globe shareholder By ANGELA TAN SINGAPORE Telecommunications has become the biggest shareholder of Globe Telecom, paying 6.65 billion pesos (Ssl96 million) to raise its stake from 40.05 per cent to 45.05 per cent. In a statement
      BLOOMBERG  -  551 words
    • 272 7  -  By JEAN CHUA IN its first results announcement since listing on Sept 30, China-based food producer Zhongguo Jilong yesterday posted a 43.1 per cent year-on-year jump in nine-month net profit. Earnings for the three quarters ended Sept 30 rose to 58.45 million yuan
      272 words
    • 395 7  -  By JOYCE KOH MORE and more, Panpac Media is becoming a China play with its increasingly aggressive forays into the publishing market there. As part of its new mission to capitalise on China's growing business media industry and to be what it calls "the
      395 words
    • 281 7  -  By JOYCE KOH OUTSOURCING continues to be the dominant factor driving profits as contract manufacturer Hi-P International saw both earnings and turnover more than double in its third quarter. The company, which manufactures products for the telecommunications and consumer electronics industries, such as electrical,
      281 words
    • 307 7  -  By JOYCE KOH HYFLUX, whose shares have become a market darling since its recent breakthrough joint-venture deal in the Middle East, yesterday unveiled a more than doubling in net profit for the third quarter. Boosted by higher industrial sales in China, earnings for the
      307 words
    • 524 7  -  By ANGELA TAN SOME 19 residential areas can now look forward to cable services after Singapore Telecommunications and Star Hub Cable Vision (SCV) settled their more than two year long cable access dispute. "The cabling works in areas affected by the dispute between
      524 words
    • COMPANY BRIEFS

  • Page 4 Advertisements
    • 908 4 |C|l|ti|Ltd CIH Limited (Incorporated in the Republic of Singapore) Co. Reg. No. *****6357H Announcement of Unaudited Results For The Third Quarter Ended 30 September 2004 The Board of Directors of CIH Limited is pleased to announce the unaudited consolidated results of the Group for the third quarter ("3Q") ended 30
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  • Page 5 Advertisements
    • 2732 5 ees EES international Limited First Quarter Financial Statement And Dividend Announcement far the Period Ended 3D SeptemberSoo4 An income statement (for the group) together with a comparative statement for the corresponding period of the immediately 1(d)(8) Details of any changes in the company's share capital arising from rights issue, bonus
      2,732 words

  • SINGAPORE MARKETS
    • 529 6  -  STOCKS Traders seem to be trying to bid up stocks, hoping to capitalise on an anticipated Wall Street rally R SIVANITHY Senior Correspondent IT was an unusually sprightly session in the local stock market yesterday, more so than might have been expected ahead of a
      Source: Bloomberg  -  529 words
    • Article, Illustration
      903 6  -  Compiled by JEAN CHUA Hong Leong Asia Nov 10 doso: $1.61 GK GOH RESEARCH, Nov 10 THE decline in Hong Leong Asia's 2004 nine months earnings was due largely to exceptional items. The results for the corresponding nine-month period in 2003 had been boosted by a $25.7 million
      Source: Bloomberg  -  903 words
    • 502 6  -  CURRENCIES LARRY WEE Senior Correspondent THE high-yielding New Zealand dollar was the biggest loser in Asian currency trading yesterday, on a day which saw the US dollar trim its recent losses on the back of a series of official comments. Asian units also corrected
      Source: Reuters  -  502 words
    • TRADES TO WATCH
      • 90 6 VENTURE Corp chairman and chief executive Wong Ngit Liong exercised stock options amounting to 500,000 shares yesterday at $14.40 each, raising his direct substantial interest to about 6.2 per cent from almost 6 per cent previously. Shares of Venture dived 5 per cent to an
        90 words
      • 108 6 LAFE Technology chairman and group chief executive Christopher Ho Wing-On saw his deemed stake climb further yesterday after 1.2 million shares were bought by his investment vehicle, the Grande Group. The shares, bought on the open market at 17.9 cents, increased Mr Ho's deemed
        108 words
      • 87 6 ASPIAL Corp managing director and chief executive Koh Wee Seng bought 44,000 shares in total over Monday and Tuesday at 30.5 cents apiece on the open market, raising his direct substantial stake to 5.48 per cent from 5.45 per cent previously. He purchased 34,000 shares on
        87 words
      • 95 6 KS TECH directors saw their combined deemed shareholdings increase this week when investment vehicle Kim Seng Holdings bought 100,000 shares at 85 cents apiece on Monday. Executive chairman Tan Kim Seng, executive director Tan Fuh Gih, alternate directors Tan Hoo Lang and Tan Wei
        95 words
      • 103 6  -  Compiled by VINCE CHONG EASTERN Holdings chairman and managing director Stephen Tay Thian Boon saw his substantial deemed stake in the company rise to 17.41 per cent from 17.21 per cent after wife and substantial shareholder Janet Lim increased her direct stake to
        103 words
    • Article, Illustration
      423 6 OTHER SINGAPORE INDICES Nov 10 VALUE CLOSE BT OB/OS -171.00 BT CADI -*****.00 +17.00 BT 10-day MA -*****.00 -17.00 All-SG Equities 521.03 +2.36 SG Equities Elect 151.11 -0.75 SG Equities Fin 1616.71 +10.60 SG Equities Prop 494.06 +4.31 SIMSCI 241.82 +1.06 SiMSCI Futures 242.40 +0.90 MOST ACTIVE STOCKS VOLUME China
      423 words


  • BLUE CHIPS
    • 830 8  -  Though analysts are upbeat on the shipyard's outlook, they are divided on how its share price will perform, writes WONG WEI KONG WONG WEI KONG AFTER reporting sterling third-quar-ter earnings, SembCorp Marine (SembMarine) appears to be on cruise control to a strong finish for the year.
      FILE PHOTO; Source: Bloomberg  -  830 words
    • 4440 8 UNIT TRUSTS FUNDS Shenton Income 1.486/1.531 BiUllLUilUBHHIH Shentoi lncome(USD) 0 898/0 925 Shenton Asia Pacific! 0.839/0.873 0.755/ r 4 jWltDn DyTWIK DOOmt I Jol/l 42/ say —II asr=!si ssa* SST"*™'' uwS Star Asia Balanced 0.927/ H Growth 1 05V1 097 Star Global Technology Fundi" 0.194/ 1 ?49n 195 2nH»2SlM ti|lan
      4,440 words
  • Page 8 Advertisements

  • SINGAPORE NEWS
    • 408 9  -  Banks break new ground in bid to woo credit card customers By JOYCE KOH AMID the festive season, some banks here are coming up with new credit cards to appeal to the holiday mood. Banking on the frenzied interest surrounding Microsoft's launch
      408 words
    • 392 9  -  By SAMUEL EE UNLIKE previous years, some motor traders are hoping the Singapore Motorshow 2004 will give car sales a significant boost because the event coincides with record-low COE premiums. "Generally, motor shows don't lead to a spike in car sales," said Kah Motor
      WILLIAM WHEY  -  392 words
    • 176 9 CRESCENDAS Group's executive chairman Lawrence Leow and Raffles Medical Group's executive chairman Loo Choon Yong are some of the well-known business people who are slated to become nominated Members of Parliament (NMP). Along with seven others, Mr Leow and Dr Loo have been named
      176 words
    • 122 9 INSURER Overseas Assurance Corporation (OAC) has appointed State Street Corporation to provide investment services for US$2 billion of assets. The services include fund accounting and enhanced insurance reporting. OAC, part of the Great Eastern Holdings group, said that State Street was selected after
      122 words
    • 234 9  -  By LARRY WEE GERMAN watch company Glasshutte Original (GO) is finalising arrangements for a very special watch to commemorate Singapore's 40th year of independence next year. Company president Frank Muller revealed in a press conference here yesterday that 2005 also marks
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  • Page 9 Advertisements
    • 1364 9 GPindustries GP Industries Limited (Incorporated in the Republic of Singapore) Co. Reg. No. *****2128 C UNAUDITED SECOND QUARTER AND HALF YEAR REPORT (for the period ended 30 September 2004) The Board of Directors of GP Industries Limited is pleased to announce the unaudited consolidated results of the Group for the
      1,364 words

  • ECONOMY WATCH
    • 1088 10 Reuters ECB council member Jaime Caruana, Nov 10 "Yes, I support (ECB President JeanCl&ude) Trichet," said Mr Caruana, asked about the ECB president's stance on euro/dollar fluctuations. Mr Caruana said he did not see any clear signs yet of second round effects from high oil prices, but the
      Reuters; REUTERS FILE PHOTO  -  1,088 words
    • 532 10 This may help to reduce pressure for another rate hike anytime soon Reuters [BEIJING] Growth in China's industrial output slowed to 15.7 per cent year-on-year in October, roughly in line with expectations and a figure that may reduce pressure for another interest rate
      Reuters  -  532 words
    • 346 10 Bloomberg. AP [WASHINGTON] The US trade gap unexpectedly narrowed in September to US$5l.6 billion as oil imports fell and exports of US goods and services rose to a record. The deficit, still the third-largest ever, shrank 3.7 per cent from U5553.5 billion
      Bloomberg.; AP  -  346 words
    • 265 10 AFP [BEUING] A top Chinese official has cautioned that ongoing policies to cool the economy do not amount to a full-fledged effort to stop the country's development, state media reported yesterday. "The macrocontrol measures mainly incorporate economic and legal means, with administrative means as
      AFP  -  265 words
  • Page 10 Advertisements

  • MALAYSIA/INDONESIA
    • 539 11  -  But that doesn't mean less attention to its WTO role: trade minister By SHOEB KAGDA in Jakarta INDONESIA will start negotiating free trade agreements (FTA) next year with its major trading partners as part of an overall strategy to play a stronger role within
      539 words
    • 243 11 Reuters [JAKARTA] Foreign direct investment approvals in Indonesia edged down between January and October against the same period last year, state investment agency BKPM said yesterday. But domestic investment rose sharply. Indonesia's total foreign direct investment approvals fell to US$B.B5
      Reuters  -  243 words
    • 2316 11 VOL FSBM 1.09 -0.06 3 <»»W Ml *1- fW) FTEC Resources .0.51 unch 165 Furqan Bus. Org .0.33 unch 476 A&M Realty 1.28 -0.02 3 Gadang 1.54 -0.02 2060 At™ 053 unch 55 Gamuda 5.00 unch 2585 ACP Industries 1.16 -0.06 198 General Corp .0.52 -0.01
      2,316 words
    • 224 11 Reuters LUMPUR] Malaysia International Shipping Corp (MISC), the world's largest carrier of liquefied natural gas, yesterday said its quarterly profits jumped 27 per cent amid increased demand and rising shipping rates. Malaysia's fourth-big-gest listed firm, valued at nearly US$7 billion, said net profit in its
      Reuters  -  224 words
    • 342 11 Reuters [SINGAPORE] Proton Holdings Bhd, Malaysia's top car maker, will finalise the acquisition of Italian motorcycle maker MV Agusta Motor this month, a source close to the deal said on Tuesday. Proton signed a letter of intent last year to study the feasibility
      Reuters  -  342 words
  • Page 11 Advertisements
    • 225 11 Miri OPTIONEnCS PROUDIYPRESENTS THE COURSE The Secret to Htfi Profit-Low Risk Trading Harvard-educated At this unique FREE SEMINAR, hecfetond manager you will bam how It is po—lblo to: *BK*lf Trade on the world's top stock option SXSni author, markets moneymarHgßrand^^^|jß| Trade risking as little as $50 HHNI Find explosive trades
      225 words

  • GREATER CHINA
    • 480 12 Move expected to spark inflow of 100b yuan into stock markets Reuters [SHANGHAI] China has set up a framework to allow corporate pension funds to invest in the US$46O billion stock market under new guidelines unveiled yesterday, the latest initiative
      Reuters  -  480 words
    • 414 12 Bloomberg [BEIJING] China set new rules designed to make it easier for overseas investors, including Citigroup Inc and Morgan Stanley, to buy bad loans, which the nation's biggest banks need to reduce as they prepare to go public. Cinda Asset Management
      Bloomberg  -  414 words
    • Article, Illustration
      29 12 [BEIJING] People walking past a huge billboard showing a traditional Chinese tea set as part of an advertisement for real estate in the Chinese capital. AFP
      AFP  -  29 words
    • 207 12 Bloomberg [HONG KONG] Hong Kong Chief Secretary Donald Tsang said yesterday the government shortlisted three bidders for a HK$24 billion (Sss billion) project to turn a waterfront site in West Kowloon into a cultural, residential and commercial centre. The three bidders are a
      Bloomberg  -  207 words
    • 429 12 Bloomberg [HONG KONG] Esprit Holdings chairman Michael Ying may raise as much as HK$4.2 billion (SsB94 million) selling shares in the Hong Kong-based clothing chain to institutional investors, according to a sale document. Mr Ying plans to sell 97.2
      Bloomberg  -  429 words
    • 410 12 Bloomberg CHINA Netcom Group Corp (Hong Kong) Ltd, China's second-biggest fixed-line phone company, raised HKSB.B7 billion (Ssl.9 billion) in an initial public offering to expand its networks and pay bank loans. The Beijing-based company sold 1.046 billion shares at HK$B.4B each, Goldman Sachs Group
      Bloomberg  -  410 words
  • Page 12 Advertisements
    • 120 12 Where to wine, dine and entertain... A World ofExdusive Privileges Treats jjjDwrsaf Seafood by the oea /vWv\ Ampu Put Cozy Giouous Cultvial Boa Paxkinc Amminci Siatood Dwcu Gaidw JtiNGA Mtfood f»st«urant *T M a m Sinfa Lbd Seafood Restaurant 920 tut Cout Pirtwiy. Smjipor. 449*75 fmnvmTtl: 634S 1111 Far 6345
      120 words
    • 18 12 ia THE BLUE ELEPHANT HJk Tel: 6438-4888 bit.* #01-06 Millenia Walk, 9 Raffles Boulevard CATERING AVAILABLE CALL H*****5
      18 words
    • 112 12 Th» Pitct for Nostalgia Swing To Good Ol Favourttes At Club 5 Unwind to great soothing music and enjoy Happy Hours at Club 51 One-for-One on standard drinks plus 35% discount off hard liquor bottles. Catch our new band, Le Mystique perform their smashing numbers. Or marvel at our beauties
      112 words
    • 46 12 n rm i it™ WHoro to fit# In Itltufv shown off by bvvy of bMutlti 7 Ml 1/lfCwVfij rUO V rnviy •■VINOfI nnv. 9pm ev«ry Friday. RAFFLES MARINA 10 Tuu West Drive *****04 Tel 6861 8000 Fax: 6861 1020 Email ahoy Wrafllesmanoa com.sg Web Site: www.rafllesmanoa.com.sg
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    • 85 12 |MEHI TU S MANDARIN SINGAPORE| The Finesse of 'Gourmet Bordeaux' 3-21 November 2004 Be enraptured by Guest I2.00i>oo«io2 »pd Chef lean Jacques SM* pel penoa (Moa -M) DugMdin's refreshing (**>"« <*»!«««! interpretations of traditional Bordeaux §watcwtoo* the region's illustrious 6 50 P° 1 •> 10.30pm wine selections Wrapa*mt4*mr*w+,tiu4mmii Bon ape
      85 words

  • INDIA
    • 361 13 It hopes to boost its gold trade in India as prices hit a 16-year high Bloomberg [DUBAI] Dubai and two partners from India, the world's largest consumer of gold, agreed to set up the first exchange in the Persian Gulf region that
      Bloomberg; Source: Bloomberg /Photos: AFP  -  361 words
    • 459 13 Reuters [NEW DELHI] India expects to meet its fiscal deficit target for the year through March 2005 as new measures to boost revenues kick in but the government will still stick to its market borrowing plan, a top finance ministry official said. The government
      Reuters  -  459 words
    • 394 13 AFP [BANGALORE] The Indian subsidiary of US car giant Ford Motor Co has hired 800 workers in the past three months to meet new orders as it launched its fourth model this year. Vinay Piparsania, vicepresident of sales and marketing of
      AFP  -  394 words
    • 159 13 Reuters [GENEVA] The World Health Organisation (WHO) said on Tuesday that Indian Ranbaxy jiajjft *»!untariJy withdrawn all of WIK irirt^etroviral Afdfs drugsTrom the UN health agency's approved list. The Geneva-based agency had already announced that it was dropping three generic HIV/Aids drugs produced by the
      Reuters  -  159 words
    • 507 13 Its scientists, IT professionals make it a major R&D hub AFP [NEW DELHI] India has the "critical mass" of skilled, English-speaking workers especially in IT and sciences to enjoy a competitive edge in the new knowl-edge-driven economy, a World Bank official said on
      AFP  -  507 words
  • Page 13 Advertisements
    • 210 13 |H|H Qi teJWrtr ISM 2t9 5822 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF (1) AJL CONSTRUCTION PTE LTD (IN LIQUIDATION) (COMPANY No. *****7289 M) (2) CAMPIONISSIMO INTERNATIONALE PTE LTD (IN LIQUIDATION) (COMPANY No. *****5341Z) (3) LA-STELLA PTE LTD (IN LIQUIDATION) (COMPANY No. *****3883E)
      210 words
    • 1368 13 I VICPLAS VICPLAS INTERNATIONAL LTD (Incorporated in the Republic of Singapore) Company Registration No *****5362R NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Sixth Annual General Meeting of the Company will be held at 35 Joo Koon Circle, Singapore *****0 on Monday, 29 November 2004 at 10:30
      1,368 words

  • ASIA-PACIFIC
    • 879 14  -  ASIA INSIGHT East Asia is too dependent on exports and its huge current account surpluses are not invested locally to stimulate domestic demand and investment ANTHONY ROWLEY Tokyo Correspondent TO say that "East Asia must make a great leap into the unknown in order to
      879 words
    • 455 14 AFP [SYDNEY] Less than two years ago, Australia's coal industry was in such a parlous state, with supply exceeding demand and prices on international markets so low, that many producers wondered how they were going to survive. But, largely because of China's high-intensity
      AFP; REUTERS  -  455 words
  • Page 14 Advertisements
    • 39 14 TWO SINGAPOREAN ICONS Both are an integral part of the Singapore landscape. Both are recognised by Singaporeans. as symbols Singapore the world over. But only one has a new and 3 fresh weekly magazines. OUI WORLD. OUR NEWSPAPER. ■HHHHHHIHHIIHBBHRBiVfIHH^IBI^^I
      39 words

  • WORLD
    • 435 15 It aims to increase governance and transparency in execs' salaries LAT-WP [WASHINGTON] The Securities and Exchange Commission (SEC) unanimously proposed new rules on Tuesday that would require a majority of board members at the nation's stock exchanges to be independent from management, and
      LAT-WP  -  435 words
    • 346 15 AFP [LONDON] After a four-year wait, billions of pounds spent on licences and numerous delays. Vodafone finally rolled out mass-mar-ket third-generation (3G) mobile telephone services yesterday. Vodafone live! with 3G will be available in 12 European countries and Japan. The range of 10
      AFP  -  346 words
    • 459 15 AP [LAS VEGAS] Gaming giant MGM Mirage intends to build a new 4,000-room giant resort and sprawling urban development in the heart of the Las Vegas Strip, a project that would dramatically change the landscape of this city's most important commercial centre.
      AP  -  459 words
    • EARNINGS ROUND-UP
      • 209 15 Reuters [TOKYO] Nippon Telegraph and Telephone Corp, the world's biggest telecoms group by revenue, posted a 5.8 per cent fall in first-half operating profit yesterday as competition intensified and it trimmed its already weak full-year operating forecast. Japan's dominant telephone company also unveiled
        Reuters; AFP  -  209 words
      • 168 15 Reuters [PARIS] French oil major Total SA posted a forecast-beating 39 per cent rise in third-quarter profit yesterday thanks to record crude prices, strong refining margins and a recovery in chemicals. The world's fourth-biggest oil company announced it would pay an interim
        Reuters  -  168 words
      • 85 15 Reuters [LONDON] Britain's Cable Wireless posted an 8 per cent rise in first-half profit from continuing operations yesterday and unveiled plans to return £250 million (Ss76B million) to shareholders as part of a group reorganisation. The 132-year-old corporate communications company, which has shed overseas
        Reuters  -  85 words
    • 497 15 NYT [WASHINGTON] Attorney General John Ashcroft and Commerce Secretary Donald Evans resigned on Tuesday, the first Cabinetlevel departures as President Bush prepares for a second term. No successors were immediately announced, but Atlanta attorney Larry Thompson, a former deputy to
      NYT; AP  -  497 words
  • Page 15 Advertisements
    • 930 15 Jjf Beyonics Technology BE YON ICS TECHNOLOGY LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****8168G NOTICE IS HEREBY GIVEN that the Tenth Annual General Meeting of the Company will be held at 30 Marsiling Industrial Estate Road 8, Singapore *****3 on Tuesday, 30 November 2004 at 11.00
      930 words

  • AVIATION
    • 345 16 AFP [SINGAPORE] Jetstar Asia took delivery of its first plane yesterday ahead of its launch in December as the third budget airline to operate from Singapore's Changi Airport. Jetstar Asia's vice-presi-dent for operations. Gregory Thompson, told reporters on board the aircraft, an
      AFP; ARTHUR LEE  -  345 words
    • 467 16  -  Tiger Airways names 18-year UK airline veteran as new CEO By DONALD URQUHART [SINGAPORE] Budget carrier Tiger Airways, which is backed by Singapore Airlines, has named its second chief executive in eight months this time from within the airline industry, following the
      467 words
    • 243 16 Bloomberg [HONG KONG] As many as 17 airlines, including Cathay Pacific Airways, have applied to extend surcharges on passenger fares beyond November to protect earnings from higher fuel costs, Hong Kong's Civil Aviation Department said. Of the airlines that sought to extend
      Bloomberg  -  243 words
    • 377 16 AP [WASHINGTON] The government and a dozen airlines struck a deal on Tuesday requiring sanitation improvements and increased testing of drinking water aboard aircraft after officials found evidence of harmful bacteria in the water of one in every eight planes tested. At the
      AP  -  377 words
    • 370 16 Reuters [WASHINGTON] A nearcollision between a jumbo jet and another plane in August prompted US safety investigators on Tuesday to classify as unacceptable aviation regulators' efforts to improve runway safety. The five-member National Transportation Safety Board was angry the incident in Los Angeles was
      Reuters  -  370 words
    • 178 16 Reuters [HONG KONG] European aircraft maker Airbus said on Tuesday it is in talks with several Chinese airline start-ups over the potential purchase of some 10 singleaisle jets. Chinese airlines Spring and Autumn. Si-chuan-based United Eagle, Chengdu Airlines and Shanghai Airlines are in talks
      Reuters  -  178 words
    • 1884 16 anr hwwt n* ruarr np Da»ao MI566 1920 MI566 0915 OB5 LH9771 1855 BA7382 2250 SQ407 0710 IC856 1145 SQ230 1855 QF82 2250 IC857 1015 SQ408 1855 Amrtf S0323 0645 KL838 2330 Danpaiaf Ball SQ141 1145 SQ142 0935 KL837 1535 SQ324 2345 SQ143 1535 5Q146 1640
      1,884 words

  • SHIPPING
    • PORT SHOTS
      • 92 17 AFP [DHAKA] Three shipbreakers died in a blaze that broke out during the scrapping of a vessel in southeastern Bangladesh, authorities said yesterday. Firefighters and residents battled for five hours on Tuesday to bring the flames under control but were unable to save the three
        AFP  -  92 words
      • 102 17 Xinhua [HANOI] Vietnam needs over US$l.4 billion to develop its shipbuilding industry by 2010, according to local newspaper Liberation Saigon. Under a national shipbuilding development plan, the industry needs 22.6 trillion Vietnamese dong (552.4 billion) to renovate technologies, repair and build seagoing vessels with
        Xinhua  -  102 words
      • 156 17 AP [VLADIVOSTOK] The bodies of five seamen were found on Tuesday in the Sea of Japan off Russia's Far East coast, rescuers said, a week after two ships disappeared in a storm. An official in the regional Emergency Situations Ministry branch said, however, that 18
        AP  -  156 words
    • 289 17 SGX '000 Nov 10 S$ Vol CH Offshore 0.39 -0.01 331 ChuanHup 0.66 unch 1148 Cosco Corporation 1.18 0.05 ***** CWT Distribution 0.56 0.01 512 Ezra Hldgs 1.16 0.01 48 Freight Unks 0.10 0.01 464 Grand Banks Yacht 0.91 0.04 5291 Jaya Holdings 1.01 -0.01 1496 K1 Venture
      289 words
    • 328 17 Reuters [LONDON] Delays for daylightrestricted oil tankers transiting the Turkish straits grew to 15 days for a round-trip journey on Tuesday, shipping brokers said. Citing fresh reports from local shipping agents, brokers said delays had lengthened to eight days to pass
      Reuters  -  328 words
    • 629 17  -  There were six separate attacks reported in the last week alone By DONALD URQUHART [SINGAPORE] Casting further doubt on the efficacy of the much heralded trilateral "coordinated" patrols, pirates operating in Indonesian waters and the Malacca straits made six separate, reported attacks over
      629 words
    • 497 17 Already, worsening port congestion has doubled tariffs Bloomberg [SINGAPORE] Freight rates for iron ore, coal and other dry-bulk commodities may climb to a record as ships waiting in line to load and discharge cargo reduce the transport capacity on offer, said Oslo-based shipbroker
      Bloomberg; AFP  -  497 words
    • 277 17 Reuters Reuters [HONG KONG] Sea contain-* er traffic through the southern Chinese port of Shenzhen rose 29 per cent in the first 10 months from the same period last year, thanks to the world's growing demand for Chinamade goods. Shenzhen, adjacent to the world's
      Reuters; BLOOMBERG FILE PHOTO  -  277 words
    • 361 17 Reuters. AP [ISMAILIA, Egypt] Shipping in the Suez Canal returned to normal yesterday, a day after tugs moved a stranded oil tanker that caused the strategic waterway's longest stoppage in almost 30 years, a port official said. Shipping through the canal resumed on Tuesday
      Reuters.; AP  -  361 words

  • EDITORIAL & OPINION
    • 529 18 EDITORIAL MINISTER Mentor Lee Kuan Yew's remarks this week about extending the retirement age beyond 62 probably did dredge up a sense of deja vu, at least among those who recall the debate over the past decade and more. The subject seemed to have gone off
      529 words
    • 1051 18  -  The dollar has sunk to record lows against major currencies since Bush's re-election ANTHONY ROWIEY Tokyo Correspondent WHAT John Kerry could not achieve at the ballot box, the dollar may succeed in doing in the market place: namely to bring about the downfall or at least
      REUTERS  -  1,051 words
    • 777 18  -  THE BOTTOM LINE FRANK CHING WITH much riding on the outcome of the American presidential election, China responded with eagerness to the re-election of George W Bush, with President Hu Jintao sending a congratulatory message in which he informed Mr Bush that he
      777 words
    • 824 19  -  Sexual imagery in ad campaigns has lost the power to shock consumers and no longer helps to sell products like before MATTHEW LYNN Bloomberg ARE you shocked by companies using slogans that rely on sexual innuendo to sell their products? Or disturbed by pictures of
      Bloomberg; REUTERS  -  824 words
    • 441 19  -  LETTERS TO THE EDITOR Ee Teck Siew Singapore I REFER to the letter "Match your rival's better service, DBS" (BT Mailbag, Nov 3). I totally agree with Denis Distant's comment about the frustration a DBS customer can experience when calling its helpline. But the problem
      441 words
    • 168 19  -  Jonathan Law Public affairs manager ExxonMobil Asia Pacific Pte Ltd I REFER to Ronnie Lim's report, "ExxonMobil's top-in-vestor claim challenged" (BT, Nov 10). The question, Who is the biggest foreign investor in Singapore?, is a little bit of trivia probably not worth fretting over.
      168 words
    • 352 19  -  Tan Kok Tim Singapore I AM glad for "Complexity forces rethink on private pension fund" (BT, Nov 10), as we can see that there are clear signs we are not ready and there is a need for caution. I hope it is only smoke. Amongst
      352 words
    • 662 19  -  By ANDREW J BACEVICH LAT-WP IN justifying the exercise of US power, all modern presidents read off the same script. The United States stands for liberty. II champions democracy. It aids the oppressed and succours the afflicted. Alone among history's great powers, the US acts on
      LAT-WP  -  662 words

  • Page 19 Advertisements
    • 102 19 HAVEYOUR SAY Fax your letters to 6319-8277 or email them to btietterOsph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel laws.
      102 words
  • Page 19 Miscellaneous
    • 210 19 CRYPTIC CROSSWORD 1 Gown worn by king receiving T 1-1 missions (6,4) Across: 1 Philatelist, 8 Caterpillar, Re head at the tea-table 16 )t wj s(ide down a hill and 11 Char, 12 Mesh, 13 Roister, 15 -> spill out (8) Mayfair, 16 Soled, 17 Meal, 18 Fisc, 3 Discrimination
      210 words

  • 10770 20 STRAITS TIMES INDEX STOCKS Stodm—w Wt Oom Owwgt Stodi nam* Wt Clox Change Allgreen 50c 0.29 1060 -0.020 NOL 2.13 2.990 -0.070 BIL Irrtl US20c 0.44 0.945 +0.010 OCBC 10.30 13.700 Capita Land 1.33 2.000 +0.070 Parkway H 25c 0.67 1.450 -0.010 Chart SemiCond 26c 0.79 1.040 +0.030
    10,770 words

  • 6145 21 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES •atootcim In SS MUSI dy %yt <tf yr dy %yi Nov 9 lnd«i Ow>q< Oungt Chang* Chang* Chang* Chang* World Index Prefrninary 8195 02 S3 01 39 -OJ 6. EAFE Preliminaiy 7*5 01 6.5 -02 64 03 9. Europe Preliminary 1029.1 -01 63
    6,145 words

  • Page 22 Advertisements
    • 1692 22 IMPORT I NORTH AMERICA I[~|| AUSTRALIA/NEW ZEALAND 1 SUPER SHUTTLE EXPRESS (SSX) [AUSTRALIA ASIA EXPRESS (AAX) _VESSEL VOY LGB SW VESSEL VOY I INI I STD IMaI AM RE r'silTT PKG OOaNINGBO 04W42 26/10 •13/11 OMIT M<l T~ OOCL HAMIURG 06W43 03/11 '20/11 OMIT ttONEDUOYD ADELAIDE S3N «V 01/11 05/11
      1,692 words
    • 853 22 IINTBtAStA KOKO SKVICi vissa/voT Marocp hbghtwu kg «h to sw jct STtAITS VENTURE /15 15 3.2 12/11 11/11 21/11 23/11 STUTTC VEHTUIE/It 1$ 3.2 25/11 27/11 02/12 05/12 07/12 SHAtTS VEWTUKE /17 15 3.2 01/12 12/12 14/12 11/12 21/12 IWIST AHA/MNttAL KOKO «VS vßsa/vor mifgT) hbghtqu rat m hhh m
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  • Page 23 Advertisements
    • 912 23 MOL Combines 8 rang* of shipping modes to wwra hraoly, nliabb lorvicoi covwno manr ports n bvAM LMMH Amjb norm amnkO/ Cwrop®/ /opon/ asicl/ mitico m vctomo* Mm icapl MnHUi Cvpn Ik ItrtftH f gYWiilfiYlilfi tmtmmt 'TMITIftH i* WAWHt nMfiirifl /im umwi /miam lAOHSIUII6 lAM6KO* lAIMCHAIAH6 IkXIMMNH PASW GUDAM6 PBIM6
      912 words
    • 1232 23 VESSEL TOY SIH PKG GOIDEN TRADE 410W I lt/11 117/11 19/11 -1 I WffH Hlfttt ~Mk ~WTT WW I GOLDEN GATE *****1 I 30/11 I 1/12 1 2/1? I-1 1 NEW DYNAMIC 074 A ~2S/fi 27/11 I GOLDEN TRADE I 7/17 I »/l7 in/1? PERTH BUDGE 068 A 2/12 4/12
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    • 961 23 WEEKLY EXPRESS SAIUNG SCHEDULE ALSO ACCEPTIW6 TO ALL NORTHERN AND WESTERN ICD POINTS VBSa VOT HN PJUAN6 gjggO H SHTVA COM—O IAYItIDGE QO3W 10 NOV OMIT 14 NOV 17 NOV 20 NOV AUSTUUA HIDGt OMIW 15 NOV 17 NOV 20 NOV 23 H0» 26 MOV mbubma maaaiMv 2ua z/wov »HQV
      961 words

  • Page 24 Advertisements
    • 802 24 IAIAI WALLENIUS WILHELMSEN website: http://www.2wglobal.com [VESSEI I YOY RAMP HEIGHT SIN UC ~MAO~ HOU# ~MIA SAY »A 1 ORF WYC ~~ittW~ M 0» I TALISMAN Af422 3201 MS 6.3 M 16/11 20/12 27/12 28/12 02/01 31/12 04/01 24/12 TARONGA AF423 ***** M 6.25 M 30/11 25/12 04/01 11/01 12/01 16/01
      802 words
    • 695 24 VBffl m Si EOL_ Jtosa *01 Ml MT Of 2301 0053? OZZU 0»/ll PAC lAU Ufl 06/11 Of/11 CSf 2301 00$4f 2SZJJ 10/11 ilfUTt T 1221 Mill L2/JJ PAC PANDA 133 AN M/U 09/11 MfMITAM S2Z3 12/11 H/ll PACIAMDA *****1 IfiZJJ 11/11 WCMiI I 4140 13/11 csf 2301 ***** um
      695 words
    • 26 24 Move into [jC command with the information edge. Sura ahead with Hie Shipping Times. TBta l To advertise, all Joe Wong at 6319 2062. SHIPPING TIMES
      26 words
    • 581 24 BSA XMYANMA ■H FIVE STAR UNE (Myoaarar National Um) Loading for Yaagoa VESSEL VOY SIN PKL PfN PGU PAGAN 336W SLD SLD HPA-AN 326W SID IN MALAYSIA: lOUSTIAD SHIPPING AGINCIIS KUI/PKL 03-*****3U PEN: 04-*****1S ACCEPTING CONVENTIONAL C6O HKG SM HKG SIN PGU PU KUC SHINKIN AS 110 SU> SLD SLD
      581 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 7209 25 ETA ETA AdvwtiMr VMmI Voy»g« 1«fl *>» |J* 'lES* T jJ|S5^ SIN Dtft'n Name Name Number Mumb«r Htm Mumbw Mumbw Si- 30/11 14/12 HamburgSud EVER GUIDE 023W *****133 To ABIDJAN (ABJ) 2003 Cote D'lvoire 30/11 18/12 Delmas IZUM0 007W *****344 18/11 25/12 China Shpq
      7,209 words

  • BizIT
    • 276 26 Reuters [NEW YORK] IBM has regained its position at the head of the Top 500 list of supercomputer installations, dislodging NEC Corp of Japan, the company said this week. IBM, which now has 216 of the world's 500 most powerful supercomputers
      Reuters  -  276 words
    • 707 26  -  BT exclusive The solution for employees to collaborate over networks is part of broader worldwide launch of Workplace solutions for companies, reports AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY COMPUTER giant IBM Corp yesterday showed it means business with small and medium enterprises (SMEs) when it
      707 words
    • 506 26  -  Beta version of its new search engine will debut today By AMIT ROY CHOUDHURY MSN, Microsoft's Web services portal, will today debut a beta version of its eagerly awaited Internet search service called MSN Search, seen by market watchers as Microsoft's big push
      506 words
    • 258 26  -  By ROLAND LIM THE regional animation industry is set to converge at this year's AnimaXtion Fair 04, which will be held alongside the annual Sitex consumer IT fair. Both events will be held from Nov 25 to Nov 28 2004 at
      258 words
    • 394 26 Bloomberg [SAN FRANCISCO! HewlettPackard Co, the world's largest computer printer maker, introduced a black-and-white copier based on the design of its printers that costs 67 per cent less than rival products. The U552,599 combination copier-laser printer runs at 45 pages a minute, on
      Bloomberg  -  394 words
  • Page 26 Advertisements
    • 36 26 Y super.nec.sg mtm Mmm JV jv jMb M JPJgf jflfjNß 9 jUgfiO www.SUPEß.net.sg A Premier Cisco Network Security Solutions Provider Cjj"S"j»j p rem(er Cisco VPN Solutions I Cisco PIX Firewalls I Data Security II*!. I SKF
      36 words

  • PROPERTY
    • 633 27 Fall adds to economists' expectations Reserve Bank will keep interest rates steady until Q2 2005 Bloomberg Australian home-loan approvals declined in September, adding to signs the housing market is cooling as property prices fall after interestrate increases last year. The number of loans for
      Bloomberg; FILE PHOTO  -  633 words
    • 293 27  -  By ANDREA TAN ING Real Estate Investment Management Asia, which has expanded its business in the region recently, has hired Timothy Bellman for the newly created position as head of strategy and research Asia-Pacific. Mr Bellman was formerly regional director for strategy and research
      293 words
    • 974 27 Brought to you by HSBC M PftOJKCTNtti/ PROP CONTRACT TfNURt RMWNdANO PRICE PSF STRUT NAMi TYPE WT1 ARfA*(SQFT) (S)'OOO) <S» MUrictQt NOfHAMDCD AMa«ftw Apt 06/09/2004 FH 1496 720 481 CMmghHM Apt 29M2004 FH 1<04 800 409 MM Apt 30/09/2004 PH 2758
      974 words
    • 527 28  -  JLL finds office and retail space demand rising but residential demand slackening, says ANDREA TAN ANDREA TAN ASIAN property remained hot in the third quarter but rising fuel costs could cool things down. Jones Lang LaSalle (JLL) says while Asia remained on
      Source: Jones Leng LaSalle  -  527 words
    • 361 28  -  That's one option in plans to develop Upper Bt Timah site By ANDREA TAN THE Methodist Church in Singapore is seeking proposals to jointly develop a vacant site at Cashew Road, along Upper Bukit Timah Road. This is the second time
      361 words
    • 417 28  -  By VINCE CHONG AS EXPECTED, Capita Land has released its prime 43unit Tanglin Residences, a freehold boutique development in the Nassim area, before the end of the year. However, the project made its debut not in Singapore, but in Jakarta over the past weekend.
      417 words
  • Page 27 Advertisements
    • 124 27 I 1 Got the right home? Now get the right home loan. Buying a house in Singapore is a heavy investment. However, you can still have the freedom to live life the way you want, with HSBC home loans. Enjoy these benefits when you take up an HSBC home loan:
      124 words