The Business Times, 18 November 2004

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Total Pages: 32
1 32 The Business Times
  • 9 1 THE BUSINESS TIMES SING wcAmmmam Thursday November 18,2004 online
    9 words
  • 533 1  -  By SIOW LI SEN [SINGAPORE] The Monetary Authority of Singapore (MAS) has found that only a few financial institutions fall short of good practice in selling investment products, some two years after the Financial Advisers Act came into force. The findings stem
    533 words
  • 136 1 sn 2.046.40 (+9.98) ST INDEX FUTURES 2,042.00 (+20.00) simso 243.11 (+0.99) SIMSO FUTURES 243.70 (+1.00) MARKETS Wednesday Change KLSECOMP 901.66 +19.37 NIKKEI 225 11,131.29 -30.46 HANG SENG 13,824.98 +78.90 SET INDEX 644.16 +1.51 JAKARTA COMP Closed MANILA COMP 1,794.36 +6.47 SEOUL COMP 885.42 +8.81 SHENZHEN B 236.41 -3.47
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  • 44 1 TOP STORIES... PG Z3 COMPANIES... PG 4-S MARKETS PG* MID CAPS PC SINGAPORE PGII-12 ECONOMY PGI4 M'SIA/INDON.. PG 15 CHINA/INDIA... PGI6 WORLD PG It AVIATION PG 1$ SHIPPING PG 20 EDITORIAL PG 22 STOCKS PG 24 25 BIZIT PG 29 PROPERTY.. PG 30*3.2
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  • 844 1  -  Full-year projection narrowed to 8-8.5% following Q3 slowdown By WONG WEI KONG [SINGAPORE] The Singapore economy shrank 3 per cent on an annual basis in the third quarter of this year from Q2 a sharper fall than the 2.3 per cent indicated by
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  • Page 1 Advertisements

  • TOP STORIES
    • 602 2  -  By ROLAND LIM [SINGAPORE] Creative Technology chief Sim Wong Hoo has "declared war" in the MP3 market and announced US$lOO million to fund the battle in 2005. Creative aims to grab 40 per cent of the worldwide MP3 player market next year,
      602 words
    • 642 2 Better days ahead for Datacraft? EVEN though Datacraft announced its third straight year of losses, BT correspondent Amit Roy Choudhury says the biggest takeaway from yesterday's financial results announcement was perhaps the fact that the management looked and acted more relaxed on hopes that better days are here
      642 words
    • 729 2  - Casino sliced, diced and examined every which way Most participants at forum prefer casino plan to have ample safeguards By VINCE CHONG [SINGAPORE] Economists, academics and consultants covered just about every angle at a forum yesterday on the casino issue. Addressing economic and social considerations, some speakers suggested Singapore start
      729 words
    • 56 2 IN yesterday's report "Shell, 4 others still in the running for LNG study", Francis Ong is the business development manager for Foster Wheeler Eastern, and not Schlumberger Business Consulting. Also, international legal firm Norton Rose and engineering company Wood Macken ie are Foster Wheeler's partners for the LNG study.
      56 words
    • 413 3  - Exports rise 1 in Oct, beating forecasts of a fall But year-on-year, exports increase at a lower pace of 11.9%, against expectations of 14% Reports by NANDE KHIN [SINGAPORE] Singapore's non-oil domestic exports (NODX), adjusted for seasonal patterns, rose one per cent in October from September, surprising most economists. In
      413 words
    • 587 3 [SINGAPORE] With oil prices still about 60 per cent higher than where they started the year, the Ministry of Trade Industry (MTI) yesterday released new estimates to quantify the effect on the economy. MTI said GDP growth could be
      587 words
  • Page 2 Advertisements
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  • Page 3 Advertisements
    • 101 3 II I KBK i Asia Pacific is upgrading fast. And with it comes a rising demand for the latest products. Whether you export fully assembled computers or import hard disks, our express distribution and logistics services can connect you to where the action is. With more people in more places
      101 words

  • COMPANY NEWS
    • 779 4  -  Fourth-quarter operating profit rises 9.6% to US$3.1m By AMIT ROY CHOUDHURY DESPITE achieving a near 10 per cent rise in operating profit for its fourth quarter, Datacraft Asia saw its net loss widen for the three months ended Sept 30 largely due
      FILE PHOTO  -  779 words
    • 741 4  -  HOCK LOCK SIEW By AMIT ROY CHOUDHURY EVEN as Datacraft announced another year of losses, the biggest takeaway from the results briefing yesterday must be the fact that the management looked and acted more relaxed. This, of course, raises the question as to whether it's
      741 words
    • 452 5  -  He buys 16m shares at 20c each, making him largest subscriber to IPO By KENNETH LIM TYCOON Oei Hong Leong's Chip Lian Investments has taken a 4.9 per cent stake in Ace Achieve Infocom, a Chi-na-based telecommunications solutions provider making its
      FILE PHOTO  -  452 words
    • 427 5  -  By KENNETH LIM AFTER withdrawing its listing application earlier this year, Junma Tyre Cord Co has finally rolled out an initial public offering (IPO) of 92 million new shares at 31 cents apiece. But the delay has been a mixed bag while the company
      ARTHUR LEE  -  427 words
    • 406 5 TWO founding members of Singapore Press Holdings' board of directors, who have between them served the media group for nearly 50 years, will step down next month. SPH said yesterday that Michael Fam, 77, and Tang I-Fang, 80, have indicated their desire not
      406 words
    • 500 6  -  The company, to be delisted in Dec, reports full-year earnings of $326m By ANDREA TAN HELPED by exceptional gains, Goodwood Park Hotel Ltd yesterday unveiled a strong set of earnings in its final chapter as a listed entity. The group turned in a 3.2 per
      FILE PHOTO  -  500 words
    • 259 6 SMOE Pte Ltd, which is part of SembCorp Industries, has clinched a turnkey contract to build an offshore platform system in the Gulf of Thailand. SMOE, which is the offshore engineering subsidiary of SembCorp's whollyowned SembCorp Utilities, will undertake the project for the
      259 words
    • COMPANY BRIEFS
      • 66 6 CHINA-based Sinobest Technology Holdings makes its debut on the mainboard today after its initial public offering of 28.5 million shares at 52 cents each was subscribed 1.47 times. Phillip Capital Management and ABN Amro Bank took a combined 5.3 million shares —19.3 per cent
        66 words
      • 80 6 Bloomberg Danisco A/S. the world's biggest maker of additives for ice cream, said it will double its flavouring production in Asia with a new plant in Malaysia. "Rapid growth" in Asia-Pacific meant Danisco needed "a strong manufacturing presence" in the region. Mac
        Bloomberg  -  80 words
      • 114 6 Bloomberg A federal district court in New York approved a final settlement of US$79 million for workers and retirees of the Global Crossing Ltd retirement plan, the US Department said in a statement. The settlement covers former chief executive Thomas Casey and former
        Bloomberg  -  114 words
      • 45 6 PENTON International Ltd has appointed The Tje Min, 51, as director and chairman of the board. Mr The, whose country of principal residence is Indonesia, will be responsible for the company's expansion through acquisitions in the area of natural resources.
        45 words
      • 122 6 Bloomberg Singapore Airport Terminal Services, the catering and ground-handling unit of Singapore Airlines, said it handled more passengers and cargo last month as trade increased and airlines added services ahead of year-end holidays. The company handled 2.13 million passengers in October, 7.7 per
        Bloomberg  -  122 words
      • 112 6 STAMFORD Land Corporation Ltd's wholly own subsidiary in Australia, Minteyville Lt Collins Street Pty Ltd, has entered into a cont act of sale with a third party, Peter James Bartholomew and/or nominee, for the sale of its building at 7-19 Alfred Place Victoria 3000
        112 words
      • 91 6 SINGAPORE Press Holdings Ltd said its wholly owned subsidiary, The Straits Times Press (1975) Ltd, now effectively holds 100 per cent of the shares in Lianhe Publishing Pte Ltd (LPH), up from a previous 51 per cent. The increase in shareholding was due
        91 words
    • 34 6 UNIT TRUSTS FUNDS LEGEND:All prices are indicative;Broadly Diversified; Narowly Focused;$ 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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    • 524 4 UNITED MICROELECTRONICS CORPORATION (Incorporated in the Republic of China) ANNOUNCEMENT CLOSE OF VOLUNTARY CONDITIONAL CASH OFFER FOR UMCi LTD. 1. Introduction 1. 1 United Microelectronics Corporation ("UMC") refers to the offer document (the "Offer Document") dated 4 October 2004 containing the terms of the voluntary conditional cash offer (the "Offer")
      524 words
    • 367 4 »Grit**«ia»WCS22 IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF ODIN MARINE TANKERS (SINGAPORE) PTE LTD (In Voluntary Liquidation) SHAREHOLDERS' VOLUNTARY WINDING-UP At an Extraordinary General Meeting of the shareholder! of ODIN MARINE TANKERS (SINGAPORE) PTE LTD duly convenes and held at 250 North Bridge
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  • Page 5 Advertisements
    • 1640 5 §0 v SHHi NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Twentieth Annual General Meeting of the Company will be held at The Auditorium, 1000 Toa Payoh North, News Centre, Ist Storey, Annexe Block, Singapore *****4 on Monday, December 6,2004 at 10.30 a.m. for the following business:
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  • Page 7 Advertisements
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  • SINGAPORE MARKETS
    • 532 8  -  STOCKS It is thanks again to the Jardine group and this time aided by a push on F&N and Keppel R SIVANITHY Senior Correspondent AN old stock market adage says, "Volume begets volume" and in a market such as this where house traders
      Source: Bloomberg  -  532 words
    • Article, Illustration
      940 8  -  Compiled by KENNETH LIM Singapore Airlines Nov 17 close: $10.90 CREDIT SUISSE FIRST BOSTON. Nov 17 OCTOBER traffic was slightly better than our expectations. Although load factors for both passenger and cargo are down year-on-year, because of additional capacity the run rate is higher than our forecast Two
      Source: Bloomberg  -  940 words
    • 553 8  -  CURRENCIES LARRY WEE Senior Correspondent THE besieged US dollar was hammered to fresh lows yet again in Asian trading yesterday, with the euro surging to a fresh postlaunch high of U551.3035 and the Korean won again forcing its way to fresh pre-Asian crisis highs
      Source: Reuters  -  553 words
    • TRADES TO WATCH
      • 85 8 UNITED Overseas Land continued to accumulate shares of hotel arm Hotel Plaza on Tuesday, buying 102,000 shares on the open market for a total consideration of about $67,320, or about 66 cents apiece. UOL, an investment and property development company controlled by the family
        85 words
      • 78 8 A DAY after he became a substantial shareholder, King Wan Corp managing director Chua Eng Eng continued to up his stake yesterday with an open-market purchase of 6 million shares at 11 cents each. He now has a 7.55 per cent stake from 5.13
        78 words
      • 91 8 PRIVATELY held investment firm See Hoy Chan Equities bought 5 million shares of Guangzhao Industrial Forest Biotechnology Group on Tuesday, raising its direct stake in the China plant cultivating company to 11.03 per cent from 10.03 per cent. No pricing details were disclosed.
        91 words
      • 157 8 THE Cheong brothers running Hong Fok Corp saw their deemed stakes increase after privately held Goodyear Realty bought some 2.3 million shares on Tuesday. The shares were bought at about 24 cents on average on the open market, and give Goodyear a 0.63 per
        157 words
      • 76 8  -  Compiled by KENNETH LIM MEMTECH International executive chairman Chuang Wen Fu bought 600,000 shares on the open market on Tuesday, raising his shareholding to 42.31 per cent from 42.23 per cent. The shares were bought at about 43.5 cents each. Memtech is a specialist
        76 words
    • Article, Illustration
      419 8 OTHER SINGAPORE INDICES Nov 17 VALUE CLOSE BT OB/OS -80.00 +174.00 BT CADI -*****.00 +16.00 BT 10-day MA -*****.00 -8.00 All-SG Equities 523.16 +1.60 SG Equities Elect 153.85 +1.36 SG Equities Fin 1621.77 +3.16 SG Equities Prop 503.36 +4.02 SIMSCI 243.11 +0.99 SiMSCI Futures 243.70 +1.00 MOST ACTIVE STOCKS VOLUME
      419 words

  • MID CAPS
    • 1017 9  -  The fast-growing company is still young and faces many challenges before growth becomes sustainable, says JOYCE KOH JOYCE KOH FOR a company barely four years old, Anwell's spectacular spurt in growth last year was enough to make any sleepy-eyed investor sit up. But the company, which
      FILE PHOTO; Source: Bloomberg  -  1,017 words
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  • SINGAPORE NEWS
    • 648 11  -  Delegates with SM Goh briefed on reform, investment opportunities By CHUANG PECK MING in Istanbul THE Singapore Business Federation delegation travelling with Senior Minister Goh Chok Tong yesterday was treated to an eye-open-ing view of the business and investment climate in Turkey.
      648 words
    • 204 11 THE government will decide at the end of the month whether to extend the rental rebates which were offered to help businesses tide over the economic downturn in the past, said Prime Minister Lee Hsien Loong. In a written response to a question that
      204 words
    • SINGAPORE ROUNDUP
      • 131 11 SINGAPORE, together with the other members of Asean and India, will co-or-ganise the first India-Asean car rally. Spearheaded by the Indian Ministry of External Affairs and the Confederation of Indian Industry, the non-competitive rally is designed to promote the land connectivity of India
        131 words
      • 98 11 BRITAIN and France will launch a year-long campaign to lure Singaporeans to shop in the fashion capitals of London and Paris (above), and to discover more shopping attractions in Manchester and Nice. Initiated by the tourism authorities of the two coun- tries, the Shop Till
        98 words
      • 57 11 IE Singapore and the Singapore Business Federation are leading a business mission to Chile, Argentina and Brazil starting today. Delegates include representatives from eSys Distribution, Far East Organization, Intraco, Leung Kai Fook Medical Co, Prestige Marine Services and PSE Marine. Delegates joining the Chilean leg
        57 words
    • 279 11  -  By ANDREA TAN DILEEP Nair, the Singaporean head of the anti-cor-ruption office within the United Nations, who was accused of graft and sexual misconduct, has been cleared of the accusations. Mr Nair, a former senior civil servant turned banker in Singapore, had earlier
      FILE PHOTO  -  279 words
    • 181 11 A CULTURE that encourages innovation and enterprise is what Singapore needs, said Vivian Balakrishnan, Acting Minister for Community Development, Youth and Sports. "To achieve this, we need to challenge and change some deep-seated mindsets and attitudes," Dr Balakrishnan said at the PSA Singapore Global Enterprise
      181 words
    • 466 12  -  World-class education, niches, private sector key to future growth By CHEN HUIFEN THREE key lessons which Singapore can learn from Switzerland in ensuring long-term economic growth are: having world-class tertiary institutions, developing niche areas of excellence, and engaging more private sector
      FILE PHOTO  -  466 words
    • 415 12  -  By SIOW LI SEN CITIBANK yesterday launched yet another credit card giving back cash, a strategy it hopes will win it customers in an overcrowded market. Instead of the usual rewards and bonus programmes, the card, called the Citibank Dividend MasterCard, gives back cash
      415 words
    • 463 12  -  By VINCE CHONG START small before going big because it's harder to go the other way round. This was the view of some speakers at the Institute of Policy Studies forum on Singapore's casino proposal yesterday, including a Singaporean businessman who has been
      463 words

  • Page 12 Advertisements
    • 70 12 This announcement appears as a matter of record only FINAL CLOSE U*****,000,000 Affinity Asia Pacific Fund II L.P. AFFINITYIEQUITY PARTN E RS Affinity Equity Partners is an independent private equity fund manager focused on control-oriented buyout investments in the Asia-Pacific region. With over US$l Billion in assets under management and
      70 words

  • FOCUS: SERVICES
    • 1161 13  -  LOGISTICS The logistics firm, which rode the hi-tech boom for its fast growth, now sees rising demand from life sciences, says CHEN HUIFEN CHEN HUIFEN SINGAPORE'S logistics industry has always been a key part of the economy since the time of Sir
      1,161 words
  • Page 13 Advertisements
    • 614 13 SrePP I SSlpjfi;- H Br-j, fflHß] |p£ Mil 11S j ',V \f*&: ;'.•> y. 3K'-«%*>•' M^n»t4fljf^ on your Singapore Dollar Time Deposit is simply outstanding. vVi v -#v •;i vv^jA-lte-i '>'7 V -V' ,v -7- 1 7&^ A >-7 1 7 7 7 v,, iMJL y .»V^^^-~4k9888K It's the season
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  • ECONOMY WATCH
    • 650 14 Fixed-asset investment growth slowed in October to 26.4% Bloomberg [SHANGHAI] Investment in China's factories, roads and other fixed assets grew at a slower pace in October after the government ordered banks to curb lending to industries including real estate, steel and aluminum. Investment in
      Bloomberg; AFP  -  650 words
    • 526 14 But it will keep an eye on inflation: central bank chief Reuters [BElJlNG] CHINA will maintain stable monetary policy next year but will closely monitor inflation and investment to see if tweaks are needed, central bank chief Zhou Xiaochuan yesterday was quoted as saying.
      Reuters  -  526 words
    • 367 14 Reuters. Bloomberg. AP [WASHINGTON] Surging energy costs drove US consumer prices up a hefty and larger-than-expected 0.6 per cent last month, the biggest jump since May, while housing starts showed the most strength since December, government reports showed yesterday. The Labor Department
      Reuters.; Bloomberg.; AP  -  367 words
  • Page 14 Advertisements
    • 1577 14 GOODWOOD PARK HOTEL LIMITED AND ITS SUBSIDIARIES (INCORPORATED IN SINGAPORE. REG. NO. *****0135H) FULL YEAR RESULTS ANNOUNCEMENT I UNAUDITED RESULTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2004 1. Income Statement Group Group 01-Jul-04 01-JuM>3 01-oct-03 01-oct-02 to to to to 30-S«p-04 30-Sep-03 30-Sep-04 30-Sep-03 $'000 000 $'000 $'000 Revenue
      1,577 words

  • MALAYSIA/INDONESIA
    • 520 15 Main share index hits 7-month peak, as investors expect ringgit revaluation Reuters [KUALA LUMPUR] Malaysian stocks and bonds jumped yesterday, with the main share index scaling a seven-month peak, as investors bet that a ringgit revaluation may come sooner rather than later. The
      Reuters; Source: Bloomberg  -  520 words
    • NOTE BOOK
      • 107 15 Reuters [HONGKONG] Shares of China Netcom, the smallest of China's four big telecoms carriers, rose 10 per cent in their Hong Kong debut yesterday, in line with forecasts, on a view they were cheap compared to rivals. Still, the performance lagged the
        Reuters  -  107 words
      • 95 15 Reuters [KUALA LUMPUR] Telekom Malaysia said yesterday it would make an exceptional gain of RMB6O million (***** million) this year by selling its remaining 6 per cent stake in South Africa's biggest telecoms firm. Telekom Malaysia's stock was up 4.31 per cent after
        Reuters  -  95 words
      • 146 15 Bloomberg [KUALA LUMPUR] 101 Corp, Malaysia's largest oil-palm plantation company by sales, said first quarter profit rose 33 per cent as palm oil prices and production increased. The company's profit rose to RM210.1 million (5591.1 million) or 18.72 sen a share, in
        Bloomberg  -  146 words
      • 73 15 Bernama [KUALA LUMPUR] The consortium of Standard Chartered pic and PT Astra International Tbk yesterday completed its acquisition of a controlling interest of 51 per cent in PT Bank Permata. The consortium has made full payment of 2.77 trillion rupiah (SssoB million) to the Indonesian government's
        Bernama  -  73 words
      • 74 15 Reuters [JAKARTA] Indonesia will discuss possible liquefied natural gas (LNG) supply to Chile during this week's summit of leaders from the Asia-Pacific Economic Cooperation (Apec) forum in Santiago, Mines and Energy Minister Purnomo Yusgiantoro said yesterday "Chile is keen to buy LNG from Indonesia,
        Reuters  -  74 words
    • 498 15 [KUALA LUMPUR] The Malaysian government could very well make good on its warning of intervening in the dispute over the ownership of a 15.8 per cent strategic block in DRB-Hicom Bhd given that Syed Mokhtar Al-Bukhary and the SM Nasimuddin SM Amin-led consortium are
      498 words
    • 259 15  -  By AL LABITA in Manila PHILIPPINE conglomerate San Miguel Corp (SMC) said yesterday it has acquired the packaging business of Malaysian firm Guolene Packaging Industries Bhd for US$35 million. In a statement to the Philippines Stock Exchange, SMC said the move aims to boost not
      259 words
    • 807 15 [KUALA LUMPUR] Ekran Bhd's auditor Ernst Young has made seven "qualifications" or disclosures in its audit of the company's accounts for the financial year ended June 30, 2004, The Edge said. This has attracted some attention to the Ekran's financial situation. The
      FILE PHOTO  -  807 words
  • Page 15 Advertisements
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  • GREATER CHINA/INDIA
    • 406 16 Reorganisation of 250,000 employees comes ahead of its planned IPO AFP [SHANGHAI] Bank of China, one of the country's big four state-owned lenders, is carrying out a major shake-up of its near quarter million employees, ordering management and staff to reapply for
      AFP  -  406 words
    • 240 16 AP [NEW DELHI] A panel of former Indian diplomats was appointed on Tuesday to advise state-run oil firms on how to buy energy stakes in Africa, the Middle East and Central Asia. "We now have some of our most distinguished exdiplomats, each having had stints
      AP  -  240 words
    • 46 16 [BEIJING] A woman walks past a billboard advertisement showing an athlete performing on the rings in Beijing. Sports and Olympic themes are becoming very popular in advertising pitches among local and foreign companies as China gears up to host the 2008 Olympic Games. REUTERS
      REUTERS  -  46 words
    • 338 16 Reuters [SHANGHAI] China will inject up to US$6OO million to bail out its fourth-largest broker before the end of 2004, sources close to the house said yesterday, its strongest move to revamp the sector since taking over Southern Securities. Cinda Asset
      Reuters  -  338 words
    • 467 16 Investors betting that other lenders will follow suit as bond yields rise Bloomberg [MUMBAI] Shares of State Bank of India, Canara Bank and other lenders rose as investors bet they would follow the example of ICICI Bank Ltd and raise the cost
      Bloomberg  -  467 words
    • 165 16 Bloomberg [BEIJING] China's banking regulator said local commercial lenders should establish fund management ventures with foreign investors to improve the management and efficiency of the new units. Commercial banks should set up fund management units with qualified foreign and domestic
      Bloomberg  -  165 words
  • Page 16 Advertisements
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  • ASIA-PACIFIC/WORLD
    • 772 17  -  ASIA INSIGHT There are many theories but their proponents are pulling in different directions ANTHONY ROWLEY Tokyo Correspondent THIS past week I found myself first at a Tokyo seminar listening to Bank of Japan governor Toshihiko Fukui reviving the argument in favour of a "yen economic
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    • 4 17
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    • 439 17 One snubs offer, while other is ready to pledge shares AP [SAN FRANCISCO] Oracle Corp's takeover tug-of-war with rival business software maker People Soft Inc intensified as two shareholders who own nearly 20 per cent of People Soft's stock indicated they are
      AP  -  439 words
    • 215 17 Bloomberg [SYDNEY] Telstra Corp, Australia's biggest phone company, has introduced cut-rate plans for mobile phones, matching similar offerings from rivals such as Singapore Telecommunications' Optus unit. The so-called "bucket plan" allows customers to pay a monthly maximum of A579(*****.50) for calls that would
      Bloomberg  -  215 words
  • Page 17 Advertisements
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  • WORLD
    • 362 18 Abuses included steering clients towards certain insurers: AG Spitzer Reuters [WASHINGTON] Agents for insurance brokers accepted vacation trips, cheap loans and shares of stock or stock options from insurers in exchange for steering clients their way. New York Attor-ney-General Eliot Spitzer said on Tuesday.
      Reuters  -  362 words
    • 284 18 NYT [MOSCOW] President Vladimir Putin warned Russia's business elite on Tuesday to "get used to paying taxes and observing the law" but he also sought to allay investor fears that the Kremlin might be preparing new attacks on Russian business. Speaking at
      NYT  -  284 words
    • 344 18 [LONDON] The company which turned causing offense into a mass market art form is in trouble. French Connection the fashion store which plastered the letters FCUK on millions of T-shirts, thousands of billboards and hundreds of shops on Tuesday confirmed
      344 words
    • 203 18 AFP [WASHINGTON] Democrats in Congress decried a ballooning US debt which they warned could reach US$l4.5 trillion in 10 years unless action is taken. "If we continue on this course, if you project the Bush budgets from 2005 to 2014, then we will accumulate another
      AFP  -  203 words
    • 249 18 AP [PARIS! Vivendi Universal SA raised its 2004 earnings forecast after strong performances by its music and telecommunications units powered a more than fivefold increase in third quarter profit. Net profit came in at 776 million euros (551.66 billion) in the three months
      AP  -  249 words

  • AVIATION
    • 528 19  -  With capacity 100% full, its Asia growth is set to outpace other regions By DONALD URQUHART [SINGAPORE] Booming Asian trade has meant full cargo capacity out of Asia and a 4 per cent improvement in yield for Lufthansa Cargo's regional operations in the
      528 words
    • 420 19 Bloomberg [BANGKOK] Nok Air Co, the discount air carrier controlled by Thai Airways International pel, said it plans to start flying to Chinese cities and Hong Kong next May, in its first foray outside Thailand. Nok Air, 39 per
      Bloomberg  -  420 words
    • 315 19 Bloomberg [NEW DELHI] The Indian government said it may build five new airports and renovate 23 existing airports as rising traffic in Asia's fourth-biggest economy strains capacity. As much as 100 billion rupees (553.7 billion) is needed to improve facilities at
      Bloomberg  -  315 words
    • 127 19 Reuters [CHICAGO] A deer found its way into a terminal at Chicago's O'Hare International Airport on Tuesday but was captured safelyneaf rt baggage claim area, officials said. The young buck apparently entered through an automatic freight door leading to the unsecured lower
      Reuters  -  127 words
    • 560 19  - Emirates' H1 earnings surge 41 By VEN SREENIVASAN [SINGAPORE] Emirates, the largest Arab airline, chalked up interim net profits of US$236 million for the six months to Sept 30. The results are Emirates' best ever for any sixmonth period, and is up 41 per cent from US$l67 million profit the
      FILE PHOTO  -  560 words
    • 147 19 Bloomberg [SINGAPORE] Singapore Airport Terminal Services (SATS) the catering and ground-handling unit of Singapore Airlines, said it handled more passengers and cargo last month as trade increased and airlines added services ahead of year-end holidays. The company handled 2.13 million passengers in October,
      Bloomberg  -  147 words
  • Page 19 Advertisements
    • 289 19 Your knowledge of the I rmarket could win you an HP Notebook! I So you think you know the market at your fingertips? Then try your hand at the BTX Game and win an HP Notebook for yourself. Ten stocks are listed fl (each with its previous day's closing prices).
      289 words

  • SHIPPING
    • 60 20 [RIO DE JANEIRO] A firefighter ship spraying water onto the smouldering Chilean tanker Vicuqa, which exploded on Monday at the Brazilian port ofParanagua. Six sailors are missing following the blast that occurred when the fuel tanker was loading methanol next to a terminal owned by state oil company
      AFP  -  60 words
    • 504 20 Haulage costs, handling charges key competitive weakness: study Reuters [HONG KONG] Hong Kong will need a new container terminal by 2015 and must cut costs to stay competitive with the neighbouring Chinese port of Shenzhen, a government-commissioned study said. China's robust exports have
      Reuters  -  504 words
    • 155 20 Bloomberg [KOLKATA] India's port of Kolkata, the country's fourth-largest, was damaged by a fire, which destroyed goods and a building, said Anup Kumar Chanda, the port's chairman. The fire at one of the port's container loading areas began at about 1.45 am. It destroyed a three-story
      Bloomberg  -  155 words
    • 280 20  -  By AL LABITA SURGING cargo volumes handled by subsidiaries in Poland and Brazil buoyed revenues of the Philippines' largest international port operator in the first nine months of the year. Based on its latest income statement, listed International Container Terminal Services Inc (ICTSI)
      280 words
    • 289 20 Bloomberg [TOKYO] Nippon Yusen K K, Japan's biggest shipping company, and OAO Sovcomflot, a Moscowbased shipowner, have formed a joint-venture company to build and own four liquefied natural gas carriers, Nippon Yusen said in a statement. The new company, JSC Sovcomflot, is
      Bloomberg  -  289 words
    • 231 20 Bernama [BANGKOK] Thailand and the United States on Tuesday started a security initiative that scans containers bound for the US to prevent terrorist attacks. "The programme is designed to protect the citizens of Thailand and the US as well as the trade
      Bernama; REUTERS  -  231 words
    • 372 20 Bloomberg [OSLO] A P Moller-Maersk, the world's largest shipping company, said it ordered two liquefied natural gas tankers from Samsung Heavy Industries for delivery in 2008, doubling the company's fleet of the ships. "This is a growth market and
      Bloomberg  -  372 words
    • 295 20 SGX '000 Nov 17 SS *I- Vol CH Offshore .0.39 -0.01 949 Oman Hup .0.65 -0.02 2848 Cosco Corporation 1.18 0.02 3273 CWT Distribution .0.S6 -0.01 392 Ezra Hldgs 1X16 -0.09 532 Freight Links 0 10 0.01 1189 Grand Banks Yacht 0.89 -0.01 88 Java Holdings 1.02 unch
      295 words
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  • Page 21 Advertisements
    • 74 21 TUVALU SHIP REGISTRY m QUALITY SERVICE -QIMLITY FLAG Low taxes Active role and representation in IMO Staffed by qualified professionals with many years of experience in ship registration Worldwide network of surveyors I classification societies No restriction on nationality of ownership Accedes to latest international conventions regulations Round the clock
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 1613 21 30/11 03/12 Dongnama GOLDEN GATE 434N *****211 SU, 0422 *****600 30/11 03/12 Gemartrans GEMARTRANS PIONEER 22N *****662 To KWANGYANG (KWY) 2595 Korea, Dem 30/11 03/12 Gemartrans GOLDEN GATE 434N *****662 28/11 10/12 Dongnama MAGNA VISION 007N *****211 30/11 03/12 Sinokor GOLDENGATE 434N *****516 28/11
      1,613 words

  • EDITORIAL & OPINION
    • 542 22 EDITORIAL IT was a rare conjunction of political and economic events and weather that made the oil price rise steadily to a record US$55 per barrel last month. Political strife in Venezuela, ethnic troubles in Nigeria, terrorism worries in Saudi Arabia, supply disruptions in war-torn Iraq,
      542 words
    • 1173 22  -  Policy instruments and infrastructures are in place to foster inflows, but the challenge is sustaining them By ARUMUGAM RAJENTHRAN THE Thai economy registered a robust growth of around 6.7 per cent last year. However, growth slowed down fairly in the first quarter of this year.
      AFP  -  1,173 words
    • 819 22  -  THE BOTTOM LINE YOGI AGGARWAL THE Maoists are not to be seen on the rc id from Kathmandu to Pokhra. But their presence is f elt in the frequent security checks of local Nepalese r .en during the journey. They are
      819 words
    • 739 23  -  The crises in Sudan and elsewhere are a chance for the US to come to terms with China, assuming that it sees Beijing as part of the solution By DREW THOMPSON IHT WHATEVER its outcome, the United Nations Security Council's extraordinary meeting on Sudan,
      IHT; REUTERS  -  739 words
    • 554 23  -  LETTERS TO THE EDITOR Leong Sze Hian Singapore I REFER to the article "Get insurance advice online" (BT, Oct 27). The website (Commis sionsFreelnsurance.com) does not make money from selling insurance, hence the description "commissionfree". The charge is a onetime advisory fee, which starts at $300
      554 words
    • 170 23  - Maids —courses are necessary Jean Tan (Ms) Director. Corporate Communications for Permanent Secretary Ministry of Manpower WE REFER to the letter "Why single out maids' employers?" (BT, Nov 9) by Urmila Babu. Ms Babu asked why she needed to attend an employer orientation course. The Ministry of Manpower (MOM) requires
      170 words

  • Page 23 Advertisements
    • 103 23 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletterCsph.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
    • 268 23 Drake Executive Search provides you with the expertise to match quality executives Professionals and Managers from middle to senior management positions, within your industry Our consultants bring a wealth of experience, assisting you in your search for the highest calibre of professionals and managers while allowing you to remain focused
      268 words
    • 371 23 C*ll toll-free 1800 289 8822 IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF ODIN MARINE SPECIALTY (SINGAPORE) PTE LTD (In Voluntary Liquidation) SHAREHOLDERS' VOLUNTARY WINDING-UP At an Extraordinary General Meeting of the shareholders of ODIN MARINE SPECIALTY (SINGAPORE) PTE LTD duly convened and held
      371 words
    • 374 23 THE COMPANIES ACT, CAP. 50 SECTION 291(1) Sino Millennium Pie Ltd (Provisional Liquidator Appointed) STATUTORY DECLARATION The Registrar of Companies. Singapore I. Chng Weng Huat of 147 Rivervale Crescent #06-20 Singapore *****7, NRIC No: *****0321 make oath and say as follows:1. lam a director of the abovenamed company; 2. The
      374 words
  • Page 23 Miscellaneous
    • 212 23 CRYPTIC CROSSWORD DOWN ently (5-4) YESTERDAY'S SOLUTION 1 Crossword solvers leed to be '.t Wild rose in eleqant form (9) 7 5 2) 17 f celebr ion ,0 K |oyed 12 sSSsJ? 2 She works in fashion, or is to for a night, we hear (7) 13 Trinity, 14 Bowling-green,
      212 words

  • 4052 24 STRAITS TIMES INDEX STOCKS Stock name Wt Close Change Stock name Wt Close Change Allgreen 50c 0.29 1 050 +0.020 NOL 2.14 3.040 BIL Intl US20C 0.44 0.950 +0 01S OCBC 10.11 13.600 -0.100 CapitaLand 1.37 2.080 +0.030 Parkway H 25c 0.66 1.430 +0.020 Chart SemiCond 26c 0.79
    4,052 words

  • 2835 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In I«ul CWT In SS In USJ Sdy dy yr dy %yr Woo 16 ln<ar» Chjng« Change Change Ouojf Ch»nq« World Index Preliminary 829 J 45 6.5 05 S.I 04 8.1 t EAFf Preliminary 754 7 -0.5 7.6 -04 7 t 0.3 108
    2,835 words

  • Page 26 Advertisements
    • 1662 26 Import NORTH AMERICA AUSTRALIA/NEW ZEALAND I SUPER SHUTTLE EXPRESS (SSX) I |AUgTTMUA ABIA EXPRESS (AAX) 1 VISSCL VOY IGB SIN PKO r— 1 00a HAMBURG 06W43 03/11 *20/11 OMIT _VKSEL VOY INE SYD MO AM PRE SW PKG PtO NEDLLOYD HOUTMAN 26W44 09/11 *24/11 OMIT ANI EMIIiM 12N 06/11 08/11
      1,662 words
    • 867 26 IINTCRASIA RORO SERVICE vßsa/voY ramkkd hbghtw wo km ia sh I jkt STRAITS VENTURE /IS IS 3.2 12/11 14/12 11/11 21/11 23/11 STRAITS VENTURE /It 15 3.2 25/11 27/11 02/12 05/12 07/12 I STRAITS VENTURE/17 15 3.2 09/12 12/12 16/12 19/12 21/12 IWiST ASIA/IENOAI ROUP SV» yissa/voY ramkkd hbghtqh) yok
      867 words

  • Page 27 Advertisements
    • 842 27 mQI Cftmbiftef a rang* of skipping mocks to ensure timely, ratable services covering major ports in worm America, Europe, Japan, Asia, Africa Oceania. Also nap! lulu Hjlm Cepis Ik BI For Schedules, BL Searches, and Container Tracking, visit on our Home Page: www.jnolsinxoffusfl^^ www.homburgsiHl.toni HAMBURC^^6no *SAf savta nxp«m Urtin .safe
      842 words
    • 1279 27 Vtssa VOY SHI PGU HCM HKG' KYH PUS VESSEL VOY I SIN TO GQLDEH GATE 4341 L JDZII JZI2- JUXL g{ 7 j GOLDEN TRADE 4]iN_ JZIL ML ML gg gfg H/fiH WU FRANCONIA 005N Ailll 15/1? 17/1? NEW DYNAMIC 07SA 9/1? M/ll_J •MqHB-IH&wi *VSI aing botfi Hortti West port
      1,279 words
    • 1002 27 m a®as& WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS VESSEL I VOT I SW PJtLANG COKMMO USHtVA COIOMBO AUSTRAUA HIDGt 0061W 15 W0» 17 NOV 20 NOV 23 MOV ZfcJHH KOIAPEIWItA YPWOS3 22 NOV 24 HOY 27 NO* 30 N0» 03 PK INDIRA GAHDHI
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  • Page 28 Advertisements
    • 783 28 Uul WALLENIUS WILHELMSEN website: http://www.2wglobol.tom Vtssa ~VQY RAMP IK MAO HOW IMA SAV Ml ~OW~ NYC ~NfW MOO TAUSMAN AM22 3201 dm 6.3 M lIN PORT 20/12 27/12 21/12 02/01 31/12 04/01 24/12 TARONGA AM23 3201 ms 6.25 M 01/12 25/12 04/01 11/01 12/01 H/01 14/01 11/01 01/01 TAMESIS AM24
      783 words
    • 690 28 vissa vfii m Efi! _Hssa stoi m n CSf 2301 OOSjP UZU 20/11 PACINIAN 12Z4 IIZJJ 21/11 CSf 2301 OOSJf UZU 22/11 _EALUU ill] 20/11 23/11 PACIANDA 1346N 23/11 23/11 tIUUTi 1922 22/11 24/11 CSf 2301 POST" 23/11 24/11 MCMIUII *275 25/11 21/11 ncuttda L24ZH 24/11 28/11 nTTTTZ^HHH «v 2301
      690 words
    • 583 28 i BSA ik. MYANMA ■H FIVE STAR UNE (MyoMor National Line) Loadißji for Yang or Vissa VOY SIN PKL PEN PGU PAGAN 336W SU) SLD HPA-AN 326W SU IN MALAYSIA: lOUSYIAD SHIPPING AGENCIES RUL/PRL: 03-300 SOU PEN; 04-*****1S ACCEPTMB CONVENTIONAL CBO HKG SIN HKG SIN PGU PKI KUC SHINKEN ACE
      583 words

  • BizIT
    • 610 29  -  The market is set to jump from 40,000 blades last year to 6.5 million by 2008. RAJU CHELLAM has the details RAJU CHELLAM Move over, desktop PCs, here come the PC blades. A privatelyheld US company, ClearCube Technology, in which Singapore-'s GIC Special
      610 words
    • 358 29 AP [PARIS] Microsoft chairman Bill Gates signed a cooperation agreement with Unesco on Wednesday to help developing countries improve access to computers, the Internet and IT training. The Microsoft co-found-er and Koichiro Matsuura, head of the United Nations Educational, Scientific and Cultural Organization, signed
      AP; AFP  -  358 words
    • 257 29 A PC blade is nothing but a personal computer on a motherboard that sits in a central rack which is far away from the employee, who in turn works on his terminal and keyboard. A modem-like device connects his terminal and keyboard to the PC blade.
      257 words
  • Page 29 Advertisements
    • 319 29 The essentials of imaging KONICA MINOLTA f" l I i Wffa£z. I' ttLJ HI > 1 Hi B J ddk mk L ''ikl m -'-tw 1c M 2 r M lf .*I The freedom to do business without bounds. Four businesspeople. Four locations. One bizhub. With bizhub, they're all connected
      319 words

  • PROPERTY
    • 542 30  -  Owner Hong Fok looking at revamp options By KALPANA RASHIWALA HONG Fok is exploring options to revamp its 33-year-old International Building on Orchard Road, with property consultant Knight Frank helping the main-board-listed group to do a feasibility study. Confirming this yesterday when contacted by BT,
      542 words
    • 197 30 TYCOON NgTeng Fong's Far East Organization/SinoLand has again won an international real estate award for its Fullerton Square project comprising The Fullerton Singapore hotel, One Fullerton and the underground link connecting the two. Far East/SinoLand is also the world's only property entity to win
      197 words
    • 441 30  -  By ANDREA TAN AS Christmas nears, developers are hoping buyers will pick up high-end homes for themselves or for investment. This weekend, two upmarket condominiums The Metz and Vida will be released. MCL Land is releasing the freehold 169-unit Metz
      441 words
    • 906 32  -  KALPANA RASHIWALA finds out why from consultants, who also warn of a different picture in the longer term KALPANA RASHIWALA MOST people think that freehold condos and apartments tend to retain their values better than 99year leasehold ones, right? Not quite,
      Source: Knight Frank Research S/SV ReaLink 21  -  906 words
    • 1433 32 Brought to you by HSBC M| mammmi tow mnmu thwihe wiiewMwo© ma m SHmrmwE mt ra amrwaiBg (gwa)) (W Districts NON-LANDED Dover Parkview Apt 03/1004 99 1281 598 467 Normanton Rark Apt 18/09/04 99 1550 470 303 Park West Apt 18/1CV04
      1,433 words
  • Page 30 Advertisements
    • 124 30 Prime Redevelopment Site Next to Lavender MRT Station •Site Area: 40,377 sq ft •GPR 6.36,24-storey •Commercial Residential Zoning •Prominentfrontage; Panaromic view of Kallang Basin •Close proximity to CBD, PIE, ECP and Nicoll Highway Tender Closing Date: 16 Dec 2004 (Thu) at 3pm Call for in-depth discussion Lead Agent Joint Agents:
      124 words
    • 39 30 q|MQ AVE jMfc fEno Cheong]\ S Tower XJ/V Kg Glam Kg Glam *PP Garden Mall Kallang y/ X Basin Releasing a financial statement? Call 1800 289 8822 or email notices@sph.com.sg to book your advertisement in our newspapers now. I
      39 words

  • Page 31 Advertisements
    • 220 31 [T M BB B li 1 *^k? v BHHj^BßßßßßEGli^l^^^^^^^^^^^^^BillW'^^^^^Mßil^^B kafer"*;-£ VJFMHWH v.*i lfv i^^B.' r :,^^^^B^B^^^B^^B[BB||^Bh'.y^ ■^HF- V 4i^^^Mi^fcßMßiißßß* l > il llß !gCT iS -i fe ;i ~"^^M—— V-' r i^j .'-•■'.■mH \BWMfcRIB M WHfffiflrfflMWill 2f- 1 I K3 E9 1 V^fl I JsJ KJ p 1 E1 Al
      220 words

  • Page 32 Advertisements
    • 101 32 Got the right home? Now get the right home loan. St MFT. .H. 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
      101 words