The Business Times, 23 November 2004

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Total Pages: 30
1 30 The Business Times
  • 13 1 THE BUSINESS TIMES SINGAPORE 85 cents MICA (P) 023/03/2004 %esta»NmMter2*2oM online at http^/business-time&asial.amsg
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  • 638 1  -  BT exclusive By CHUANG PECK MING [SINGAPORE] After a year that saw manufacturing wages trimmed in many countries, global production costs were up again in 2003, posting their biggest increase since 1999, according to the US Department of Labor. Manufacturing costs also rose in
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  • 47 1 TOP STORIES ...PG2,4 COMPANIES... PG 6-9 SMALL CAPS ....PG 10 SINGAPORE PG 11 ECONOMY PG 13 M'SIA/INDON.. PG 14 CHINA PG 15 INDIA PG 15 ASIA-PAC PG 16 WORLD PG 17 AVIATION PG 18 SHIPPING PG 19 EDITORIAL PG 20 LETTERS PG 21 PROPERTY.. PG 28-29
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  • 679 1  -  BT exclusive They're third biggest group of foreign buyers in Q3 By KALPANA RASHIWALA [SINGAPORE] Mainland Chinese nationals are emerging as major foreign buyers of private homes in Singapore, after Indonesians and Malaysians, says a report by DTZ Debenham Tie Leung. Using caveat
    Source: URA Reals, DTZ Research, Nov 2004  -  679 words
  • 2523 1 STI 2,020.14 (-18.07) ST INDEX FUTURES 2,***** (-26.00) SIMSO 239.91 (-1.88) SIMSO FUTURES ***** (-2.10) pj I I I \A 4 |bh H Singapore 85 cents online at http7/business-times k asia1.com5g mica(P)Q23/03/2i 4 I Worldwide Chilli f production costs f up in 2003 S pOI By CHUANG PECK
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  • TOP STORIES
    • 632 2  -  He says there's 'no linkage' between the two currencies By PAULINE NG in Kuala Lumpur MALAYSIA is not going to budge from its fixed currency peg even if China decides to review its currency regime, Prime Minister Abdullah Ahmad Badawi said
      632 words
    • 536 2  -  By RAJU CHELLAM [SINGAPORE] If you think infotech services is only for developing economies like India and China, think again. Companies and governments are set to spend a whopping US$59l billion on subcontracting IT services next year, says the latest study by International Data
      536 words
    • 644 2 Ringgit to stay fixed even if China frees yuan: Abdullah MALAYSIA is not going to budge from its fixed ringgit peg even if China decides to review its currency regime, Prime Minister Abdullah Ahmad Badawi said yesterday. Pouring cold water on any notion that Malaysia will follow suit
      644 words
    • 454 4  -  APEC SUMMIT He says Apec Business Advisory Council should conduct study Reports by ANNA TEO in Santiago A FEASIBILITY study should indeed be carried out on a regional free trade agreement (FTA) for the Asia-Pacific, Prime Minister Lee Hsien Loong has
      454 words
    • 740 4 THE Ministry of Trade and Industry is probably being "cautious" in forecasting £-5 per cent growth for 2005, says Prime Minister bee Hsien Loong, because tbday's uncertainties could swing the figures either way. Speaking to Singapore reporters at the end of the
      AP  -  740 words
    • 365 4  -  They should have at least one international director, he says By WONG WEI KONG [SINGAPORE] Singapore companies need to cast their net wider when appointing board members and should try to appoint at least one international director, Acting Second Minister
      365 words
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  • COMPANY NEWS
    • 459 6  -  Poor local market, lack of appreciation for education stocks cited By KENNETH LIM THE domestic market is overcrowded and local investors don't appreciate education stocks, said directors of homegrown AEC Education, which has decided to head to London for a listing. And
      459 words
    • 422 6  -  By SAMUEL EE JARDINE Cycle Carriage (C&C) group managing director Philip Eng will retire in February next year, after more than two decades as the face of the company best known as a MercedesBenz distributor. Taking over from Mr Eng, 59, will
      FILE PHOTO  -  422 words
    • 663 6  -  HOCK LOCK SIEW By WONG WEI KONG SO CREATIVE Technology chief Sim Wong Hoo has publicly declared war in the MP3 market and set his sights on US giant Apple Computer. But while it may grab the headlines, is Creative's bravado misplaced? Last week,
      663 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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    • 755 7  -  By KENNETH LIM TAKING an early view of what's in store for the Singapore equity market next year, Citigroup Smith Barney says in a strategy report that the local bourse will be moved by a weaker US dollar, high oil prices, corporate
      755 words
    • COMPANY BRIEFS
      • 85 7 MAINBOARD-LISTED Xpress Holdings said its significant shareholder, Hiap Hoe Holdings Pte Ltd. sold its entire 22.3 per cent stake in the printing company to Dermei International Co Ltd for about $11 million, or eight cents a share. Dermei is registered in the
        85 words
      • 62 7 UNITED Overseas Bank (Malaysia) Bhd group aims to see its pre-tax profit surpass RM500 million (S$216.5 million) in the financial year to Dec 30, 2004. on a maintained loan growth from the previous year, its chief executive officer Chan Kok Seong told The
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      • 64 7 TUAN Sing Holdings' subsidiary. Habitat Properties (Shanghai) Ltd. yesterday entered into a joint venture agreement with an investment unit of Baoshan District Government to incorporate a new 200 million yuan (S$39.7 million) company, Shanghai LuojingTS Investment Co Ltd, to undertake a residential land development
        64 words
      • 30 7 CAPITALAND Ltd yesterday set up an indirect wholly-owned subsidiary called Capita Land Retail Project Management Pte Ltd (CRPM) to provide project management and consultancy services.
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      • 26 7 AUTRON Corp said two of its directors, Michael Chye Hin Fah and Geraldine Ong Siew Ting, have resigned, citing time-constraint factors.
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      • 35 7 WEARNES International posted a 32.6 per cent rise in earnings to $18.6 million for the full year ended Sept 30. Turnover rose 39 per cent to $570.9 million.
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      • 65 7 COMFORTDELGRO Corp will give a special one-time bonus to all its 16,098 taxi hirers to help them cope with higher operating costs resulting from high oil prices. The bonus will range from $240 to $360 per driver depending on the number of years of service.
        65 words
    • 463 7  -  It offers shares at maximum of $1.66 each in flotation Seen to raise $185m By JOYCE KOH ALREADY a household name here. Yellow Pages Singapore looks set to become an even bigger presence in the local market with its launch yesterday of an
      463 words
    • 433 9  -  Injection of data storage business in return for 80% stake By JOYCE KOH SINGAPORE-LISTED hard disk drive component-mak-er Magnecomp International is taking an 80 per cent stake in KR Precision Pel (KRP) through the injection of its data storage components business into the Thai-listed company. Under
      433 words
    • 396 9  -  By RAJU CHELLAM SESDAQ-LISTED ArianeCorp Ltd says its China subsidiary has tied up with two other companies in a US$3OO million deal to grab a share of China's booming market for broadband data services. ArianeCorp's China unit, Guangzhou Ariane Telecom Technology (GAT), owns and
      396 words
    • 469 9 Reuters SEMBCORP Industries (SembCorp), facing a damages claim of $787 million, said on Monday it was open to settling a 9-year-old legal spat over a ship conversion contract. The conglomerate, Singapore's fourth-largest by market capitalisation, is in talks with Swiss-based Allseas Group to resolve
      Reuters; FILE PHOTO  -  469 words
    • 226 9 Xinhua [BEIJING] Soon Choo Teck, chairman of Sim Lim Group, said here yesterday that he will donate 33.03 billion shares of his company to Chinese farmers. Held by Soon Choo Teck Farmers Education and Charitable Fund Limited, the shares account for 26
      Xinhua  -  226 words

  • Page 7 Advertisements
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  • SINGAPORE MARKETS
    • 500 8  -  STOCKS Overall, the average price of SGX stocks has declined by 9 per cent in a period of about 11 months TEH HOOI LING Senior Correspondent With just over one month before the year ends, it's perhaps time to take stock of how the local
      Source: Bloomberg  -  500 words
    • Article, Illustration
      928 8  -  Compiled by KENNETH LIM TPA Strategic Nov 22 dose: $0,215 GK GOH RESEARCH. Nov 22 PROSPECTS are still bright. TPA's 2H04 performance should be stronger on the back of a pickup in China's air travel, new OEM (original equipment manufacturing) representations and healthy prospects for the homeland security
      Source: Bloomberg  -  928 words
    • Article, Illustration
      419 8 OTHER SINGAPORE INDICES Nov 22 VALUE CLOSE BT OB/OS -338.00 +1.00 BT CADI -*****.00 -84.00 BT 10-day MA -*****.00 -34.00 All-SG Equities 516.82 -3.84 SG Equities Elect 153.72 -1.96 SGEquities Fin 1610.55 -9.36 SG Equities Prop 493.92 -6.31 SIMSCI 239.91 -1.88 SiMSCI Futures 239.50 -2.10 MOST ACTIVE STOCKS VOLUME Datacraft
      419 words
    • 529 8  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar tumbled anew in New York trading last Friday after US Federal Reserve Bank chairman Alan Greenspan added his concerns about the US twin deficits to a series of recent warnings by his Fed colleagues over the past
      Source: Reuters  -  529 words
    • TRADES TO WATCH
      • 95 8 LAFE Technology chairman and chief executive Christopher Ho Wing-On saw his deemed stake increase again yesterday after the Grande Group bought 563,000 shares on the open market at 18 cents apiece. Mr Ho is now deemed to be interested in 63.63 per cent of
        95 words
      • 118 8 FOUR Pacific Andes Holdings directors saw their deemed shareholdings increase after holding company Clamford Holding bought 300,000 shares on Thursday last week. The shares were bought on the open market at about 35.95 cents each. Clamford now has a direct and deemed 57.48 per cent
        118 words
      • 88 8 RSH non-executive chairman Mohamed Ali Rashed Alabbar acquired B.£ million shares on Friday last week at 56 cents apiece through a married deal. He now controls 27.19 per cent of the sports equipment and apparel retailer from 24.66 per cent previously. RSH shares
        88 words
      • 47 8 SINGAPORE Press Holdings chief executive Alan Chan Heng Loon exercised 212,500 share options on Nov 9. Mr Chan, who did not have any SPH shares previously, converted the options at $3.91 each. SPH shares yesterday rose 2 cents to close at $4.66.
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      • 56 8 NEPTUNE Orient Lines vice-chairman and independent director Friedbert Malt sold his entire 0.004 per cent direct stake on the open market yesterday. Mr Malt disposed of his 60,000 shares at about $2.96 apiece, for about $177.600 in total. Shares of the shipping company lost
        56 words
      • 66 8  - Lankom director buys 20 ,000 shares Compiled by KENNETH LIM LANKOM Electronics non-executive director Randolph Liu Lu-Chun bought 20,000 shares on the open market on Friday last week at 11.95 cents apiece. Mr Liu's direct stake in the electro-magnetic component manufacturer now stands at 7.375 per cent from 7.37 per
        66 words

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  • SMALL CAPS
    • 863 10  -  But its shares are still underperforming, despite its impressive results, reports ANGELA TAN ANGELA TAN AS the largest supplier of cranes and heavy equipment in fastgrowing AsiaPacific, ex-Ja-pan, Tat Hong Holdings' shares should be shining, just like its results. Yet, this is not
      Source: Bloomberg  -  863 words
    • 478 10  -  By TEH HOOI LING AS in many previous periods, our small-cap portfolio outperformed the UOB Sesdaq Index but lagged the Straits Times Index. Compared to two weeks ago last week had a holiday our portfolio slid 0.3 per cent. In the same period, the Sesdaq
      478 words
  • Page 10 Advertisements
    • 808 10 Penton International Limited (Incorporated in the Republic of Singapore) Registration Number *****3044 C NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Second Annual General Meeting of Penton International Limited ("the Company") will be held at 8 Yung Ho Road, Singapore *****0 on Wednesday, 8* December 2004 at
      808 words
    • 3 10 The Business times
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  • SINGAPORE NEWS
    • 462 11  -  Aim is to provide a fallback in the event of a gas supply disruption By RONNIE LIM A HIGH-POWERED energy experts committee will meet today, for only the second time in as many months, to explore further how best to connect
      462 words
    • 646 11  -  By CHUANG PECK MING THE ageing population isn't just a Singapore concern. Academics at a workshop here yesterday highlighted a similar concern in other Asian countries in particular, the cost of supporting a greying population and the inadequacy of government in grappling
      AP  -  646 words
    • 240 11 THE Singapore-German Chamber of Industry and Commerce (SGC) was officially opened yesterday. The new organisation, which was established in June this year, succeeds and combines the expertise of the former German Business Association and the Delegate of German Industry and Commerce. "Germany is a key investment
      240 words
    • 319 11  -  By GENEVIEVE CUA UNIT trusts and invest-ment-linked insurance products (ILPs) in the Central Provident Fund scheme turned in a mixed performance in the third quarter, against a backdrop of soaring oil prices and disappointing economic data. Major global stock markets closed
      319 words
    • 275 11  -  By JOYCE KOH HIGHER energy costs following recordhigh crude oil prices caused Singapore's domestic wholesale trade index to rise 24.3 per cent in the third quarter over Q3 last year. According to the latest data from the Department of Statistics (DOS),
      275 words
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  • FOCUS: INDUSTRIES
    • 971 12  -  TECHNOLOGY The dotcom era stimulated innovation and product development, and that legacy continues to boost the fortunes of Singapore's IT industry. CHEN HUIFEN reports CHEN HUIFEN DID the dotcom era do more good than harm to the IT industry in Singapore? According
      FILE PHOTO  -  971 words
  • Page 12 Advertisements

  • ECONOMY WATCH
    • 1254 13  -  It may not fix all global economic imbalances, but will trigger the much-needed readjustment By STEPHEN ROACH A US$4O trillion world economy is dangerously out of balance and seriously in need of a fix. A decline in the dollar is not a cure-all
      REUTERS FILE PHOTO  -  1,254 words
    • 1184 13 NYT [PARIS] The world's leading industrial nations agreed on Sunday to cancel 80 per cent of the nearly US$39 billion debt owed them by Iraq, a critical step in rebuilding the country's devastated economy and an important precedent for its other creditors to
      NYT; AFP FILE PHOTO  -  1,184 words
    • 291 13 Bloomberg [HONG KONG] Traders increased bets that the yuan would appreciate should it be allowed to trade freely against the dollar after President Hu Jintao said China would move to relax the currency peg once reforms ensure the economy is strong enough to
      Bloomberg  -  291 words

  • MALAYSIA/INDONESIA
    • 634 14  -  MALAYSIA INSIGHT EDDIE TOH Deputy News Editor THE Malaysian stock market has breached the 900point level on growing expectations that the government will soon abandon the six-year-old currency peg. Although the Kuala Lumpur Composite Index (KLCI) gave up some of its gains last
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    • 281 14 [KUALA LUMPUR] Malaysian retailers expect to see a rise in holiday spending this year as improved consumer sentiment coincides with the festive shopping season, reported Malaysia's Business Times. citing retail survey data. Strong economic growth, the higher number of tourist arrivals, the stock market rebound
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    • 281 14 AFP [KUALA LUMPUR] Malaysia's smallest mobile operator DiGi.com Bhd has revived a bid to secure a high-speed third-genera-tion (3G) service licence from the government, a report said yesterday. DiGi, 61-per-cent-owned by Norwegian telecoms group Telenor, withdrew from the race for a 3G licence two
      AFP  -  281 words
    • 303 14 Bloomberg [JAKARTA] Standard Chartered Pic and its Indonesian partner are interested in bidding for an additional 20 per cent of PT Bank Permata, the nation's seventhlargest lender, after completing the purchase of a controlling stake this month. "We are interested
      Bloomberg  -  303 words
    • 553 14  -  But at RM1.40, analysts say share is 'fairly priced' and may soften By PAULINE NG in Kuala Lumpur THE take-off was a bit slow, but Air Asia eventually reached a reasonable cruising height on its debut yesterday on the main board of Bursa Malaysia. The
      AP  -  553 words
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  • Page 14 Advertisements
    • 206 14 CaltoB4reelBM 299 8822 IN THE SLBORDINATF. COURTS OF THE REPUBLIC OFSINC.APQBF DC Suit No. 4727 of 2004/N Between ORIX LEASING SINGAPORE LIMITED (RC NO. *****1173 M) Plaintiffs And NG TECK BENG (NRIC NO. *****789Z) Defendant NOTICE OF ADVERTISFMF\T To: NG TECK BENG Lately of Blk 53 Sims Palce #06-172 Singapore
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  • GREATER CHINA/INDIA
    • 530 15 Auto firm losing its lustre as shares fall by more than 10% in latest blow Reuters, Reuters, Bloomberg [HONG KONG] Shares in Brilliance China Automotive Holdings Ltd, China's largest minibus maker, skidded by just under 11 per cent yesterday after its auditor resigned,
      Reuters,; Reuters, Bloomberg  -  530 words
    • 399 15 [NEW YORK] Chinese technology companies are pulling out of the industry's biggest US trade fair because delegates cannot obtain visas, according to a report in the Financial Times. The move has fuelled fears that the US risks losing business to
      399 words
    • 534 15 Bloomberg [HONG KONG] Walt Disney Co, the second-largest US media company, said it plans to open a Hong Kong theme park on Sept 12, 2005, a date chosen by a feng shui master, as more tourists from China flock to the city.
      Bloomberg; AFP  -  534 words
    • 248 15 Reuters [NEW DELHI] India's biggest utility vehicles maker, Mahindra Mahindra Ltd, plans to set up a joint venture company with France's Renault to make its Logan sedan in India, an industry source told Reuters yesterday. "It's (the joint venture) going to happen... the announcement is
      Reuters  -  248 words
    • 540 15 AFP [BOMBAY] Shares in India's blue chip Reliance companies took a pounding for a second trading session yesterday and the head of the company had to come out to quell media reports about a family feud over control of the group, saying his late father
      AFP; BLOOMBERG  -  540 words
    • 209 15 Bloomberg [NEW DELHI] Indian manufacturing businesses including automobiles, auto components and electrical equipment, recorded higher production in the first half of the fiscal year to Sept 30, the Confederation of Indian Industry said. Out of 134 manufacturing industries, 33 recorded a rise in
      Bloomberg  -  209 words

  • ASIA PACIFIC/WORLD
    • 340 16  -  Membership with Inter-American Development Bank opens multi-billion dollar door By ANTHONY ROWLEY in Tokyo SOUTH Korea's application to join the Inter-American Development Bank (IDB) has been approved by the Washington-based bank's governors, it was announced yesterday, opening the door for Korean
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    • 257 16 Bloomberg [SYDNEY] Commonwealth Bank of Australia, the nation's second-largest lender, has cut almost half of the 3,700j0bs it plans to shed as part of a three-year restructuring programme aimed at reducing costs and boosting revenue. Between 1,500 and I,6oojobs have gone
      Bloomberg  -  257 words
    • 45 16 [YOKOHAMA] A diver dressed as Santa Claus offering presents to bottlenose dolphins at the Aqua Musium in the Hakkeijima Sea Paradise, in Yokohama, some 30 km south of Tokyo. The Hakkeijima Sea Paradise itarted its Christmas events to attract visitors. AFP
      AFP  -  45 words
    • 629 16 But both banks post weaker H1 profits from a year ago Rtuters [TOKYO] Two of Japan's biggest banks, Mizuho Financial Group and Sumitomo Mitsui Financial Group (SMFG), said yesterday that they have put their badloan troubles behind them, though both booked lower profits for the
      Rtuters  -  629 words
    • 433 16  -  By ANTHONY ROWLEY in Tokyo THE yen continued what for Japan is a perilous rise against the dollar yesterday with no sign of official intervention to check its ascent, despite rising concerns about a possible slide back to recession in Japan's economy and the
      AFP  -  433 words
    • 287 16 Software makers plan on increasing licensing fees Reuters [AMSTERDAM] While computers are being redesigned to make them cheaper, the software licence model is not following suit. This could mean huge cost increases for enterprises and individuals, a survey found yesterday. Four major changes
      Reuters  -  287 words
    • 164 16 Reuters [AMSTERDAM] Financial group ING has agreed to sell Baring Asset Management to US groups Mass Mutual and Northern Trust and said it would make a net gain of 250 million euros (***** million) on the deal. The sale wraps up the integration of
      Reuters  -  164 words
    • 224 16 Reuters [HONG KONG] Outstanding bonds issued by East Asian countries in their local currencies have trebled since the 1997 Asian financial crisis but the market still lacks depth and variety, the Asian Development Bank said yesterday. East Asian borrowers were increasingly relying on
      Reuters  -  224 words

  • WORLD
    • 676 17 AFP, Reuters Bloomberg. [FRANKFURT] The International Monetary Fund (IMF) appears to be growing more cautious about the outlook for the world economy next year. Its directorgeneral, Rodrigo Rato, told a German daily that the fund had downgraded slightly
      AFP,; Reuters; Bloomberg.  -  676 words
    • 451 17 It wants audit firms barred from selling tax work to execs of client companies [NEW YORK] Regulators are preparing to crack down on the ability of accounting firms to sell lucrative tax services to their audit clients, reports the Financial Times.
      451 words
    • 563 17 Reuters [SEATTLE] For people trying to get their ageing parents on the Web so they can read e-mail and get digital photos of the family, Microsoft Corp has a message: Don't give up. The hassle of buying, installing and learning how
      Reuters  -  563 words
    • 454 17 Bloomberg [LONDON] Millionaires, who have about US$3O trillion invested worldwide, will amass wealth at a slower pace in the next five years as stock markets struggle to return to the levels of the late *****, according to Boston Consulting Group Inc.
      Bloomberg  -  454 words
    • 232 17 Bloomberg AFP [MUNICH] DaimlerChrysler AG chief executive officer Juergen Schrempp had his S6OO Mercedes-Benz armoured limousine stolen while it was parked on a street in Stuttgart the German city in which the carmaker is based. The black company car, which is worth
      Bloomberg; AFP  -  232 words
    • 541 17 Bloomberg [NEW YORK] Donald Trump's Trump Hotels Casino Resorts Inc filed for bankruptcy protection with a plan to cut debt by US$4OO million and renovate its properties. The Atlantic City, New Jersey-based company which owns four casinos and has US$l.B billion
      Bloomberg; AFP  -  541 words

  • AVIATION
    • 849 18 They think China will be a very profitable sector in the long run NYT [NEW YORK] Five US airlines are fighting for a business opportunity they have not seen in 17 years: flights to China. Over the next 15 months, the authorities in
      NYT; BLOOMBERG FILE PHOTO  -  849 words
    • 257 18 AFP [LONDON] The airline Cathay Pacific insisted that safety was "never compromised" when an engine on a Boeing 747 reportedly burst into flames four hours into a flight from London to Hong Kong. Some of the 322 passengers on Flight CX2SO on Thursday
      AFP  -  257 words
    • 278 18 Bloomberg [MELBOURNE] Virgin Blue Holdings, Australia's sec-ond-largest airline, has applied to more than double its number of flights between Australia and Fiji, chief executive Brett Godfrey said. Virgin Blue's international unit Pacific Blue started flying to Fiji in September, with three flights a
      Bloomberg  -  278 words
    • LOG BOOK
      • 98 18 AP [JAKARTA] The pilot of an Indonesian airliner suffered a fatal heart attack minutes after take-off yesterday, but the co-pilot took over the controls and landed the plane safely, an airline spokesman said. The pilot died while being driven to hospital after the Garuda
        AP  -  98 words
      • 134 18 AP [BANGOR, Maine] Two Moroccan men were taken off a flight from Paris bound for Washington after officials determined one of the men was on the US no-fly list. Air France Flight 026 was diverted to Bangor on Saturday night and the two men were
        AP  -  134 words
    • 553 18 AFP. AP [BEIJING] Investigators yesterday ruled out sabotage as the cause of a plane crash that killed 54 people in northern China, as they examined debris for clues as to why the commuter jet plunged into an icy lake. "According to the current
      AFP.; AP  -  553 words
    • 385 18 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
      385 words

  • SHIPPING
    • 572 19  -  Extra workload, increased isolation affecting their well-being: ISMA By DAVID HUGHES in London An international group of ship managers has warned that an overzealous implementation of security laws on shipping is adversely affecting the morale and productivity of seafarers. The International Ship Managers
      FILE PHOTO  -  572 words
    • 361 19 Bloomberg [LONDON] Oil tanker rates for hauling crude from the Persian Gulf to refineries worldwide may rise this week amid a limited supply of vessels for December shipments. About 12 modern very large crude carriers, or VLCCs, each able to
      Bloomberg  -  361 words
    • 289 19 SCX '000 Nov 22 SS Vol CH Offshore 0.38 -0.01 534 Chuan Hup 0.65 -0.01 452 Cosco Corporation 1.1C unch 6447 CWT Distribution 0.55 -0.01 56 Ezra Hldgs 1.07 unch 143 Freight Links 0.10 unch 310 Grand Banks Yacht 0.90 0.01 39 Jaya Holdings 1.05 -0.01 1584 K1
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    • 286 19 Reuters. Bloomberg [ISTANBUL] Turkish maritime authorities yesterday closed the Bosphorus Strait to tanker traffic due to poor weather and low visibility. The narrow Bosphorus is the only outlet to the world's oceans for Black Sea states, which ship oil. grain
      Reuters.; Bloomberg  -  286 words
    • PORT SHOTS
      • 90 19 AFP [SEOUL] Two people were missing and 71 rescued after a fire broke out onboard a Russian ship sailing off South Korea's east coast, the South Korean navy said on Sunday. The rescue and search began on early Sunday when the 2,900-tonne
        AFP  -  90 words
      • 141 19 Bloomberg [SEOUL] Samsung Heavy Industries Co, the world's third-largest shipbuilder, said that it has won overseas orders valued at US$2.2 billion this month as increased trade between Asia and the US and Europe boosts demand for cargo. Samsung Heavy has won orders for 18
        Bloomberg  -  141 words
      • 79 19 Reuters [OSLO] Norwegian shipping company Wilh Wilhelmsen said yesterday that it had agreed to buy a 25 per cent stake in South Korean logistics company Glovis Co Ltd for US$lOO million in cash. "Pursuant to its strategy to be a major global provider
        Reuters  -  79 words
    • 775 19 NYT [ATLANTA] Could Santa's sleighs get stuck at sea? For weeks, retail chains and analysts have watched as freighters with holiday goods and other merchandise anchored off US West Coast ports waiting to be unloaded. A surge in
      NYT; BLOOMBERG FILE PHOTO  -  775 words
    • 483 19  -  They also warn of another rate restoration in July By DONALD URQUHART [SINGAPORE] Hoping to emulate the success of mainline carriers in securing rate hikes, a grouping of 15 regional feeder carriers has announced a rate restoration and other surcharges for their mainline customers. The
      483 words

  • EDITORIAL & OPINION
    • 539 20 EDITORIAL THE ranks of those prepared to proclaim loudly that Japan's economy had finally entered a self-sustaining recovery after a decade of stagnation and frequent recession have suddenly begun thinning. These avowed optimists have little to say in the face of mounting evidence (most notably Japan's abysmal
      539 words
    • 1310 20  -  Futures markets impress with their accuracy in predicting the outcomes of political events SERENA NG POLITICAL futures markets were more accurate than opinion polls in predicting the outcome of the recent US presidential election. And despite their small sizes and contentious hypotheses, mathematicians and academics swear
      REUTERS  -  1,310 words
    • 815 20  -  THE BOTTOM LINE DAVID MASON IN Britain, politics used to be a simple two-party process. Conservatives represented nobility, other landowners and the filthy rich. The Labour Party, since full enfranchisement and the Liberal Party before it, represented the working class
      815 words
    • 1331 21  -  Both regions stand to benefit enormously if their leaders agree to speed up the process to liberalise trade, services and investment By MICHAEL RICHARDSON AUSTRALIA, New Zealand (ANZ) and Southeast Asia will have an opportunity next Tuesday to reinvigorate relations when their leaders meet
      AP  -  1,331 words
    • 724 21  -  WILLIAM PESEK JR Bloomberg IT'S 1997 all over again for South Korea only this time it's a good thing. The Korean won last week rose to 1,063.80, its highest against the US dollar since November 1997, when the Asian financial crisis was heating up.
      Bloomberg  -  724 words
    • 466 21  -  LETTERS TO THE EDITOR Ee Teck Siew Singapore MANY Kopitiam food court outlets have implemented a stored-value card payment system. Most of us associate stored-value cards with Nets Cash Card, Transit Link's ez-link cards, prepaid phone cards and the like. But
      466 words
    • 146 21  -  Alvin Chua Chuan Ann Singapore A BUSINESS associate from Thailand who visited Singapore last week got caught in jams on Orchard Road, Keppel Road (in the evening) and the Pan-Island Expressway (from the airport towards town in the morning) and said to me: "This is
      146 words

  • Page 21 Miscellaneous
    • 188 21 CRYPTIC CROSSWORD malicious talk (7) H 25 A title incorporated in newspa- Pr--Pn—H People engaged in graft may nfMWBi t0 60 11 Foreign money invested in YESTERDAY'S SOLUTION D T" N u sugar and pepper (7) Across: 1 Tropic, 4 Backdrop, 8 In--1 Strain resulting from disturbed 14 See this
      188 words

  • 3798 22 STRAITS TIMES INDEX STOCKS Stocfc iwra m Oox Chany Stock mim rn Oom Ch—» Allgreen 50c 0.28 0.995 -0.005 NOt 2.11 2.950 -0 020 BILIntlUS20c 0.44 0 940 0.015 OCBC 10.16 13.500 Capita Land 1.36 2.030 -0.010 Parkway H 25c 0.66 1.430 -0.020 Chart SemiCond 26c 0.80 1.050
    3,798 words

  • 2842 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES m toot turr la SS t» WiS Wwi« %d dy OY lnde» Change Chang* Change Q«<s« OxnQ* OMnp* Wtorid Inde* PreSminaty 8275 -07 63 -04 SO 04 83 EAft Preliminaty 7S*1 OS 75 -03 84 0-2 1U b*ope Preliminary 1039 7 08 74
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  • Page 24 Advertisements
    • 1517 24 ■TrwSfft r IMPORT 1 I NORTH AMERICA If]! AUSTRALIA/NEW ZEALAND 1 WM. 1 1 .J J U. 1 1 jJ"J ,'i J.iJ.LLLJ.i, 1 JJ i^'.i'J.iI'JiU'.UAUJJJJJ.LL.'.L. mm ..J SUPER SHUTTLE EXPRESS (SSX) [AUSTRALIA ASIA EXPWESB (AAX) -U555 VESSEL VOY IK STP MB. I API I Htt "s5"" WO PtO NEDUOYD HOUTMAN
      1,517 words
    • 80 24 4HHIHB UK CONTINENT SERVICE Loading for ACHILLES RDM/ATW/BMNAJK/NAN LOK PRAKASH FTTM/ATW/BM NAJ K/NAN Loads Singapore. EVW. Mateyata, Indoneaa MIDDLE-EAST SERVICE Loading for PAN VOYAGER ADN/H DD/J DH/AQA PAN BRIGHT DBl/ABU/BRN/DOH/DMM/KWT ASEAN GLORY D 81/ABU/DOH/BR N/DM M/KWT GOLDEN SUN DBI/ABU/DOH/BRN/DMM/KWT •Loads Singapore. E7W. Malaysia. Indonesia USA SERVICE Loading for MAHARASHTRA CAM/NFK/SAWNOL
      80 words
    • 836 24 ItNTIRAStA KORO SBRVICI vßsa/voT umm hbghtw pug kh lo sw I jkt I STRAITS VENTURE/14 IS 3J 75/11 27/1) 07/12 05/12 STIAmVEimiKE/17 15 3.7 01/17 17/17 It/17 19/12 2 1/12 STKAUS VPfTUKE/!» 15 3.7 73/17 24/12 30/12 Q2/Q1 M/ 0, WIST AStA/lE NOAL RORO m L Yissa/YOT tAMPffT) HOGHT(M) TOK
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  • Page 25 Advertisements
    • 886 25 «-t mui uxnoHW} q o range of dupoim |q wuiih Ikiiily, refioblt services covirin| wojor pwtt in j) NQi ft America, Europe, Japan, Ana? Arm OoeaoNU Mm aenpt htnr-Jbia Cvysss to SaSM/ For Schedules, BL Searches, and Container Tracking, visit on our Home Poge: www.moUin.com.»fl www.homburasud.com .asm snvia ram™ httim
      886 words
    • 1300 25 vessel voY^rTri^n!^^ Mm. QQIH 23/11 hill 26/11 N{W(,YkAMI<: 04A tt/il WU 1 GOLDEN GAT! 1434H 130/11 I 1/1? I 2/12 I I PEKTM BKIDGE 06« A I 2/12 I 4/12 I GOLDEN TRADE UllH I 7/1? 8/17 10/17 NEW DYNAMIC 07SA ft 7 11/12 *VSt afcn bmti Haiti I West
      1,300 words
    • 927 25 m aoa WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AMD WESTERN ICD POINTS VKSa VOT SW MUMS COUMMO H SHIVA COtWMO AMSTMUAMD6E OMIW IS NOV 17NOV 20N0V UM 2tHOV tOftfßtWm YPWOS3 22 NOV 24 NOV 27 NOV 30 NOV 03 DK —MUM OOMW 21 NOV 01 DK 04DK
      927 words

  • Page 26 Advertisements
    • 794 26 WW WALLENIUS WILHELMSEN website: http://www.2wglobal.com VKSfI IVOY lIAMf HIICHT I SIM IK ""MAtf" HOW MIA SAV lAI ""OR?" NYC WW MOI TARONGA AM23 3201 MS 6.25 M I 01/12 25/12 04/01 11/01 12/01 16/01 U/01 18/01 01/01 TAMISIS AM24 3201 MS 6.4 M I 19/12 01/01 17/01 24/01 25/01 03/01
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    • 646 26 _ffisa ffli m esi jassa m ill -SU3OI QQ59f 21/11 22ZU -ULUU 41U 20/11 23/11 TAC lAMDA JJ46N 23/n ff/11 iMilffl? 1223 23/11 M/ 11 CSf 2301 0060? 23£J 24/11 fAC UfIAH 12Z5 25/11 tt/11 pacianda mm 24/n 25ZU I mcmu 4142 [_imi_ ao/n csf 2301 mi 22Z1J 27/n ■■■■mnvnnTffirnv^^H
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    • 46 26 Aq. dawn international lines •Of RORO BREAKftULK SERVICE HA StN LOADING FOR: 20/11, 13/12 DUBAI, JEBEL AU 23/11, 13/12 AU AUSTRALIAN BASE POUTS 09/12 CHfTTAOONO, HAUMA, MUMAAI Abe tmgum teem Chabmg mtd tump* parti tar l»4lf A tagoMoe Call: 6266-5515, 6261-6966, 6261-0660 Email: winston.ui iuOiJu wmintl.com.*g
      46 words
    • 552 26 MYANMA~ PQ FIVE STAR LINE !%■■■> niHOMI UM) Loading for Yongoft VOY SM m PEN KU PAGAN 336W SU> SU> HPA-AW 326W SU> IN MALAYSIA: lOUSTEAD SHIPPING AGENCIES KIU/PKL 03-*****388 PEN; 04-2633(1 S ACCEPTING CONVENTIONAL C6O HKG SM HKG SM PGU PKL UK CRYSTAL HEART 13 SID SU> SU> JACARANDA
      552 words

  • THE BUSINESS TIMES SHIPPING TIMES
  • Page 27 Advertisements
    • 73 27 TUVALU SHIP REGISTRY QyALITY SERVICE -r»- yjjTajn^y^ Low taxes Active role end 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 service
      73 words

  • PROPERTY
    • 823 28  -  Developers take steps to prevent speculation as prices surge by up to 70% By VINCE CHONG DUBAI developers have begun taking steps to stave off speculators, as demand in the emirate's sizzling property sector continues to push up prices as high as 70 per cent. Recent
      REUTERS; FILE PHOTO  -  823 words
    • 381 28 Rightmove is 2nd property website to report a decline in four days Bloomberg [LONDON] UK house prices fell in November and are set to drop further in coming months because of higher borrowing costs, according to Rightmove, the second property
      Bloomberg  -  381 words
    • 215 28 Reuters [LONDON] British commercial property firm Great Portland Estates Pic said yesterday it had bolstered the redevelopment potential of its central London property portfolio via an asset swap involving three buildings. The company said it had agreed to sell two office buildings to the
      Reuters  -  215 words
    • 410 29  -  With 50 units sold last week, total sales are around 400 so far By ANDREA TAN THE Sail@Marina Bay is likely to end the year as the best-selling project in 2004. City Developments and AIG sold over 50 units
      FILE PHOTOS  -  410 words
    • 533 29 End-user demand expected to underpin sustained rebound at top end [HONG KONG] The luxury residential sales market has staged a magnificent rally, leading the property recovery with prices rising by more than half in the past year, a South China Morning Post report said.
      533 words
    • 679 29 Bloomberg [HONG KONG] The Hong Kong government may raise as much as HK$2l.3 billion (554.5 billion) from the sale of Asia's biggest real estate investment trust, taking advantage of rising property prices to plug a deficit at its public housing agency,
      Bloomberg  -  679 words
  • Page 28 Advertisements
    • 154 28 Where to wine, dine and entertain... A World ofExdusive IVMeges Treate wwwJinanmWMg bternahonal DUI Si (iiki D«i Bai EciUinit 111 lil at Nazi P•rkr o y i I 60 Dishes Deluxe Feast Select from our extensive a la carte buffet menu featuring 60 superb Sichuan and Cantonese gourmet delights. Lunch:
      154 words
    • 28 28 PRAWNS For a-la-carte diners only r "k- Singa Inn Seafood Restaurant kj 920 Easl Coast Singapore *****5 Mtioad rwiMMM for resen-otion Tel: 6345 nil Fax: 6345 2138 BusinessNoun:s.oopm-11.00pm
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    • 26 28 Ifs official. We're in alliance. v Announcing a merger? Call 1800 289 8822 or email notkesdsph.com.sg to book your advertisement in our newspapers now. mm i
      26 words
    • 110 28 C fflttte S&tdfyt j I 28th November 2004} I Sunday, 12noon 3pm Conducted by our specially invited professional wine connoisseur who will M personally attend to you at your tablet If /Jfflll i our courses w 'th any 2 wines s tM 11 four courses with all 4 wines/ *£»rty
      110 words
    • 51 28 MERITUS MANDARIN SINGAPORE BUFFET DINING AT ITS BEST Fresh oysters, delectable lobsters, savoury honey-glazed ham, US Prime Rib of Beef and many more mouth-watering dishes r?" to leave you spoilt for choice. S Reservations: 6831 6271/72 MEATUS MANDARIN 333 Orchard Road, Singapore *****7 Tel: +65 6737 4411. Fax: +65 6732
      51 words

  • Page 29 Advertisements
    • 63 29 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:
      63 words
    • 62 29 Hin Seng Garden For Sale By Tender ~~~1 Freehold nil Approximately237,ooosqft "trfty. -&.Q" T/t 0 IMIiiAJ r •Upto 12 storeys Easy access via AYE and close to educational 2.,. institutions and amenities m i-J CBRE Tel: 6224 8181 CB RICHARD ELLIS SIMSWE I l Victoria o A P fEng CheonflK
      62 words
    • 40 29 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 6839 7222 Jelena 6839 7223 Swm Cheng Management Pte Ltd
      40 words
    • 48 29 ft" Lianhe Zaobao I 1 Who is most likely to be I Ift SCCCI's I 11| new I I is president! I when it marks its I I S 100 th 1 I g anniversary I I next yearP I I n I H s w 11*-, 8
      48 words

  • BEYONDSINGAPORE
    • 1065 30  -  The only way for the local infocomm and technology industry to survive is to go out, says IE Singapore's Corrine Ong. ROLAND LIM finds out what is being done to help the industry ROLAND LIM DESPITE Singapore's worldwide reputation as an intelligent island, Singapore's
      Source: IE Singapore  -  1,065 words
    • 1008 30  -  Its founder Leslie Loh tells CHEN HUIFEN why the company has been seeking out opportunities in the less well-trodden areas CHEN HUIFEN SYSTEM Access founder Leslie Loh has a simple strategy when it comes to growing his software company. "The more familiar market might not
      PHOTOS BY CHRIS LOH  -  1,008 words
  • Page 30 Advertisements
    • 202 30 I 2004 Year of Internationalisation International Enterprise Singapore (IE Singapore) has designated 2004 as the "Year of Internationalisation" to mark the start of a decade of internationalisation, characterised by three strategic thrusts: catalyse private sector-led internationalisation, maximise connectivity with growth markets and promote the export of services by leveraging Singapore's
      202 words