The Business Times, 24 November 2004

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Total Pages: 32
1 32 The Business Times
  • 15 1 THE BUSINESS TIMES Wednesday November 24,2004 SINGAPORE 85 cents online at http^/business^timcs^sial.conug MICA (P) 023/03/2004
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  • 494 1  -  BT exclusive New allocation rounded up to nearest 1,000 units By SIOW LI SEN [SINGAPORE] Small shareholders of Ascendas Real Estate Investment Trust (AReit) are in for a windfall. In allocating new units to existing shareholders, the company has decided to round up to the
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  • 137 1 STI 2.029.86 (+9.72) ST INDEX FUTURES 2,016.00 (unch) SIMSa ***** (+1.29) SIMSa FUTURES 241.60 (+2.10) MARKETS Tuesday Change KISECOMP 909.38 +13.44 NIKKEI 225 dosed HANG SENG 14,023.29 +222,69 SET INDEX 650.87 +5.92 JAKARTA COMP 959.01 +19.02 MANILA COMP 1,811.23 +23.03 SEOUL COMP 860.40 +10.41 SHENZHEN B 241.23 -0,16
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  • 49 1 TOP STORIES ...PG 2,4 COMPANIES. PG 6-11 MARKETS PG 10 SINGAPORE PG 12 ECONOMY PG 13 MSSIA/INDON ...PG 14 CHINA/INDIA ...PG 15 ASIA PACIFIC ...PG 16 WORLD PG 1 7 AVIATION PG IB SHIPPING PG 19 EDITORIAL PG 20 STOCKS PG 22-23 MOTORING PG 29 MONEY PG 30-32
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  • 607 1  -  Industry players laud bioethics panel's guidelines By CHEN HUIFEN [SINGAPORE] Organisations that want to conduct biomedical experiments involving humans will have to set up a review board from now on, in accordance with guidelines introduced yesterday by the Bioethics Advisory
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  • TOP STORIES
    • 373 2  -  Ho Bee releases 100 units at Berth by the Cove at average price of $785 psf By VINCE CHONG [SINGAPORE] Sales of Sentosa's first condominium start today, with the initial release of 100 homes priced at an average of $785 per square foot
      373 words
    • 554 2  -  By RAJU CHELLAM [SjJfGAPORE] For a second strtight month, orders for cljig-making equipment hajje fallen below parity, c(|jtfirming a weakening in demand for computers and consumer electronics at le£4 until the first quarter ofrsext year. Market analysts, howeveijSijxpect Asia and Eastern
      554 words
    • 860 2 Genting ups stake in UK's biggest casino operator MALAYSIA'S Genting gaming group has bought a fresh stake in the UK's largest casino operator, in what is seen as a prelude to a joint venture to develop Las Vegas-style casinos in the more liberal UK market soon. A casino
      860 words
    • 585 4  -  They traded US$38b in US treasury bonds, compared with US$12b in US stocks in July-Sept quarter By CHUANG PECK MING ♦jJfNGAPORE] Singapore investors eared to tread water when it came corporate stocks in the Julyjfcyatember quarter, preferring to deal tSore in
      585 words
    • 833 4  -  Storm is starting to clear in property market: minister By ANDREA TAN [SINGAPORE] As the storm clouds begin to clear on the property horizon, developers should play a larger role in shaping Singapore through the development of the New Downtown. Minister of
      PHOTOS: ARTHUR LEE  -  833 words
    • 386 4  -  By JOYCE KOH [SINGAPORE] Temasek Holdings has made another foray into India this time taking a 10 per cent stake in a fast-growing logistics company. Temasek already one of the top private-equity investors in India, with interests in companies as diverse as
      386 words
    • 389 4  -  By EDDIE TOH [SINGAPORE] Malaysia's Genting gaming group has bought a fresh stake in the UK's largest casino operator, in what is seen as a prelude to a joint venture to develop Las Vegas-style casinos in the more liberal UK market soon.
      389 words
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    • 23 2 I fRVMNI cHHH W V~, H >4 T I J I p 1 I I L ii i I. THE BUSINESS TIMES mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmMmmmmmummmmmmmmmmmmmrnmmmmmm
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  • Page 6 Advertisements
    • 1184 6 C©MAT^ INDUSTRIAL COMAT INDUSTRIAL LTD. (Incorporated in the Republic of Singapore on 18 August 2004) 9 (Registration No: *****0428 C) Invitation in respect of 56,000,000 New Shares of 550.05 each comprising:(1) 2,500,000 Offer Shares at 550.24 for each Offer Share by way of public offer; and (2) 53,500,000 Placement Shares
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    • 142 6 This announcement appears as a matter of record only I November 2004 I C©MAT# INDUSTRIAL 31 Quality Choice Moocnm Ima a c COMAT INDUSTRIAL LTD. (Incorporated in the Republic of Singapore on 18 August 2004) (Registration No: *****0428 C) Invitation in respect of 56,000,000 New Shares of 550.05 each comprising:(1)
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  • COMPANY NEWS
    • 692 6  -  It will also open another centre to cater to continued strong demand By WONG WEI KONG CONTINUED strong demand from retail investors to trade Singapore Telecom shares at authorised trading centres (ATC) instead of using brokers has led DBS Bank to extend the
      FILE PHOTO  -  692 words
    • 632 6  -  HOCK LOCK SIEW By ANGELA TAN ABOUT a decade ago, when the ability to make calls over the Internet was offered as a much cheaper alternative to making long distance phone calls, it was met with loads of scepticism. The service, offered by
      632 words
    • Article, Illustration
      11016 7 A SPECIAL FEATURE BROUGHT TO YOU BY THE SINGAPORE INSTITUTE OF MANAGEMENT World-class EMBA goes from strength to strength H Personal Growth ~JBf. I just as he was completing the x\x fir v programme which was sponsored by his compan/ Mr Michael Drake, j km 41, was promoted finom country
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    • 545 8  -  Creative hits 11-month high as analysts upgrade Apple price target By WONG WEI KONG BULLISH analyst upgrades Of Apple Computer rubbed off on its Singapore rival Creative Technology with Creative shares hitting 11month highs in response yesterday. Creative shares rose as high as $21.00, a
      BLOOMBERG; Source: Bloomberg  -  545 words
    • 290 8  -  By KENNETH LIM EXPECTING positive prospects in the months ahead, MFS Technology said it will recommend a one-cent special cash dividend on top of a 0.55-cent final pay-out as fourth-quarter net profit almost doubled to $13.6 millipn. MFS, which specialises ii* making printed
      290 words
    • COMPANY BRIEFS
      • 78 8 ACCORD Customer Care Solutions Limited has appointed Terence Tan Hor Khim as managing director of its whol-ly-owned subsidiary, Distribution Management Solutions Pte Ltd (DMS). Incorporated in Singapore, DMS specialises in the distribution and retail of mobile communication devices as well as provision
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      • 78 8 ROYAL KPN NV, the biggest Dutch phone company, and Singapore Tele- communications Ltd (Sing Tel), South- east Asia's largest phone company, agreed to shaxe each other's Internetbased networks, connecting each oth- er's customers. "We are really pleased to be able to connect
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      • 64 8 SESDAQ-LISTED Asia Medic is introducing Epi-LASIK to complement its eye laser system following the successful launch of its Wave Scan Laser System in mid-January. The company said that with the continued rapid rise in shortsightedness and other eye problems in young and
        64 words
      • 51 8 DMX Technologies Group, a system architect that designs and implements solutions for broadband infrastructure, digital TV and mobile communications, has won two contracts to provide digital video solution for China's Xinhua News Agency and a leading regional satellite operator based in
        51 words
    • 395 8  -  By VINCE CHONG WEE Poh's non-executive chairman Wong Teck Kui does not plan to stay on once the construction group's proposed reverse takeover by profitable Hong Kong watch manufacturer and dealer Winning Group goes through. Mr Wong, a dealer representative currently with UOB-KayHian,
      395 words
    • 474 8  -  It cites problems with the renewal of the lease of land in the $34m deal By JOYCE KOH A DEAL that was meant to add a new stream of business for Auston International was aborted as the education group said yesterday it
      474 words
    • 483 8  -  By EDDIE TOH HYFLUX, which has inched closer to the billion-dollar* club in terms of market capitalisation, yesterday sealed its partnership with Middle East company Istithmar in a venture that could yield more lucrative water projects for the Singapore water-treatment specialist. "We see this joint
      483 words
    • 453 9  -  By JOYCE KOH SHARES of Magnecomp International yesterday surged after the company said on Monday that its data storage unit will be merged with a Thai-listed company, sparking a spring of approval from analysts. The counter rose 11 cents, or 15 per cent, to
      Source: Bloomberg  -  453 words
    • 449 9  -  By VEN SREENIVASAN SINGAPORE Airlines has started implementing plans to outsource some of the functions of its finance division. The move first announced two months ago will affect 66 jobs in the division's uplift flight coupon processing and interline billings operations. "This is
      449 words
    • 519 9  -  Holding via IPO could deepen its retail exposure in China By KENNETH LIM IN a move that could deepen its retail exposure in China, Metro Holdings is seeking a 4.37 per cent stake in garment manufacturer and retailer China Fashion Holdings through its
      ARTHUR LEE  -  519 words
    • 434 11  -  It wants asset management firms to use its blueprint for an ethics code By TEH HOOI LING CFA Institute aims to have its new Asset Manager Code of Professional Conduct used as a blueprint for ethical behaviour among asset management firms, in particular the
      434 words
    • 284 11  -  By KENNETH LIM COMING near the tail end of the busiest months for initial public offerings in at least 35 months, two companies make their debuts on the local bourse today after their invitations received among the poorest subscriptions for new listings this year. Comat
      284 words


  • Page 8 Advertisements
    • 74 8 j* n uSfe Diners Club Credit Card Where to wine, dine and entertain... Ifs official. We're in alliance 4' >♦ >- s Announcing a merger? Call 1800 289 8822 or email notices6sph.com.sg to book your advertisement m our newspapers now. |j Wine Culture (Tel: 6462 1129) I enjoy special Christmas
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  • SINGAPORE MARKETS
    • 910 10  -  CURRENCIES But beyond short-term corrections, reasons to sell the currency are piling up LARRY WEE Senior Correspondent OVER the past month or so, we have tried to explain to our readers why the US dollar has become increasingly vulnerable to selling
      910 words
    • 549 10  -  Compiled by KENNETH LIM Datacraft Asia Nov 23 dose: 99 US cents CITIGROUP SMITH BARNEY, Nov 23 UPGRADING Datacraft from "hold" to "buy". Three reasons: Internal restructuring nearing completion: FYO4 (September) should mark the end of the transition period towards a revenuegrowth focused business. Early stages of a
      549 words
    • 400 10  -  STOCKS R SIVANITHY Senior Correspondent ON Monday this week, high oil prices and a weak US dollar were said to have weighed down stocks, thus leading to pressure on the Straits Times Index (STI), dragging it down 18 points. Yesterday, a still-weak US dollar
      400 words
    • TRADES TO WATCH
      • 63 10 GREEN World Holdings chief executive Richard Lim Yew Hang bought 660,000 shares on the open market on Monday at 29 cents apiece. He now has a 1.06 per cent stake from 0.24 per cent previously. Shares of Green World, a Sesdaq-listed scrap metal recycler,
        63 words
      • 99 10 HARTFORD Holdings shareholder Kok Fook Hong no longer has a substantial stake in the education company after 2.5 million shares were sold on the open market as a result of a series of sales. No pricing details were released. The shareholder's stake now stands
        99 words
      • 122 10 UNITED Overseas Land bought another 449,000 shares of hotel arm Hotel Plaza on Monday fron. the open market in two separate transactions. UOL, a property and investment company controlled by the family of United Overseas Bank chairman Wee Cho Yaw, bought 215,000 of those
        122 words
      • 66 10  -  Compiled by KENNETH LIM DARCO Water Technologies managing director and chief executive Thye Kim Meng has pledged two million shares to HL Bank Nominees. Mr Thye still has a combined 35.21 per cent stake in the Sesdaq-listed water treatment specialist, but those pledged shares now
        66 words
    • 359 10  -  CHART POINT By LIM SAY BOON OCBC Investment Research THIS time last week, we predicted that the Straits Times Index (STI) might make another attempt at 2,050. But we also cautioned that beyond that "little bit of fireworks, the indicators are that it
      Source: Bloomberg  -  359 words
    • Article, Illustration
      421 10 OTHER SINGAPORE INDICES Nov 23 VALUE CLOSE BT OB/OS -164.00 +174.00 BT CADI -*****.00 +165.00 BT 10-day MA -*****.00 -17.00 All-SG Equities 521.28 +4.46 SG Equities Elect 157.52 +3.80 SG Equities Fin 1601.47 -9.08 SG Equities Prop 503.90 +9.98 SIMSG 241.20 +1.29 SiMSCI Futures 241.60 +2.10 MOST ACTIVE STOCKS VOLUME
      421 words

  • Page 11 Advertisements
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  • SINGAPORE NEWS
    • 516 12  -  But profit margin will be smaller as budget traveller traffic increases By ANDREA TAN AIRPORT retailer Nuance Watson (Singapore) says budget airlines will generate more business for the company but at lower profit margins. The company sole retailer of perfumes and costnetics at Changi
      CHRIS LOH  -  516 words
    • 350 12  -  By NANDE KHIN SINGAPORE workers should seek to add value above their qualifications to make them more competitive, according to a senior official of the US-based Conference Board, a nonprofit research organisation that deals with management issues. "CEOs don't just look for qualifications.
      350 words
    • 371 12  -  It beats year-end deadline set by IDA for 3G licensees By ROLAND LIM MOBILEONE (Ml) will meet its third generation (3G) licence obligations with the launch of the first phase of its 3G trial tomorrow, beating the year-end deadline set by the Infocomm Development
      371 words
    • 310 12  -  By SIOW LI SEN CREDIT card spending is up as consumers gain confidence from a strongly expanding economy. MasterCard International yesterday said that it saw double-digit growth for both its credit and debit cards issued in Singapore in the third quarter. MasterCard
      FILE PHOTO  -  310 words
    • 166 12 A 60-YEAR leasehold industrial site at Bedok North Avenue 4 has been released for application. It is one of three new sites in the second half 2004 state sales reserve list. The 105,486 square foot site could fetch $20-25 per square foot of
      166 words
    • 376 12 Reuters SINGAPORE'S consumer prices levelled out in October after two months of rises, broadly in line with market expectations, as an easing of a ban on Malaysian poultry knocked down food prices, data showed yesterday. The flat consumer price index for October
      Reuters  -  376 words
  • Page 12 Advertisements
    • 1009 12 ■VnOIIH Call toll-free 1800 289 8822 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF GEOPEX PRODUCTS (ASIA) PTE LTD (In Members' Voluntary Liquidation) Company registration no. *****3193R At an Extraordinary General Meeting of the Company duly convened and held at 63 Crowhurst Drive Serangoon
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    • 514 12 Call toll-free 1800 289 8822 ASSETS FOR SALE Traditional Indonesian Batik/China Cloths in huge quantities Grandfather Clock Chinese Silk Painting Art Drawings Stropping machine (i) Sold On An "As Is Where Is" Basis Without Warranty or Undertaking of the condition (ii) Terms conditions apply PPOPFBTY FOB SALE OB LEASE 6-storey
      514 words

  • ECONOMY WATCH
    • 617 13 He slams the Bush administration as 'totally irresponsible' Reuters [HEW YORK] The economic policies of US President George W Bush have set tke country on a dangerous course that is likely to end i| crisis, Princeton economic professor Paul Krugman t»ld Reuters. Prof
      Reuters  -  617 words
    • 678 13 Decline stalls rally that sent yen to a four-year high against the dollar Bloomberg [HONG KONG] The yen had its biggest decline in two weeks in Asia, stalling a rally that sent it to a fouryear high against the dollar on Nov 19,
      Bloomberg; REUTERS FILE PHOTO  -  678 words
    • 577 13 Bloomberg [NEW YORK] The US economy will expand 4.4 per cent this year, more than previously forecast, and 3.6 per cent in 2005, according to a survey. Faster than expected growth in consumer and business spending led a panel
      Bloomberg; AFP FILE PHOTO  -  577 words
    • 180 13 Xinhua [ABU DHABII The Organization of Petroleum Exporting Countries (Opec) registered a year-on-year 46 per cent increase in its oil revenues in the first 10 months this year, a report said on Monday. Earnings of the oil cartel are expected to
      Xinhua  -  180 words
    • 240 13 AP [BEIJING] President Hu Jintao says China's economy will avoid a "hard landing" amid efforts to cool off surging growth and should expand at a "stable and relatively fast" pace next year, state media reported yesterday. Mr Hu made the comments in Santiago,
      AP  -  240 words
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  • MALAYSIA/INDONESIA
    • 559 14  -  They're among eight properties, including a commercial complex By PAULINE NG in Kuala Lumpur EIGHT properties formerly owned by the Faber Group with a total indicative value of RM4SO million (Ssl9s million) are up for grabs. The properties leasehold as well
      559 words
    • 321 14 Reuters [JAKARTA] Trade in the Indonesian rubber market has ground to a near standstill this week as producers await clear direction following global price falls due to a weak dollar, traders said yesterday. Indonesian producers returned on Monday from a week-long public holiday
      Reuters  -  321 words
    • 308 14 Bloomberg [JAKARTA] Indonesia, whose budget deficit reached as much as 26 trillion rupiah (Ss4.B billion) in the 10V2 months to Nov 15, expects to achieve its 2004 deficit target of 26.3 trillion rupiah, a government official said. "We are optimistic,"
      Bloomberg  -  308 words
    • 473 14 Slowdown makes rate hike unlikely, say economists Reuters [KUALA LUMPUR] Malaysia's economic growth probably eased to 6.9 per cent in the third quarter, as electronics exports moderated, a Reuters poll showed. The slowing growth makes a rise in interest rates unlikely even
      Reuters; AFP  -  473 words
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  • GREATER CHINA/INDIA
    • 590 15  -  HONG KONG INSIGHT Challenge will be to convince users to pay for entertainment, information and other such content JEAN CHUA Reporter AFTER years of waiting and trials and more trials, it looks as though 2005 will finally be the year
      590 words
    • 879 15  -  COMMENTARY With outsourcing booming, there's the need to create more jobs but staff supply is still good in India By ANDY MUKHERJEE Bloomberg THALAPALLI Hari has a problem a good problem. "Every time our sales team wins another order," says Hari, senior vice-president for
      Bloomberg  -  879 words
    • 194 15 AP [WELLINGTON] New Zealand and Chinese negotiators will begin talks on a free trade agreement (FTA) on Dec 6 in Beijing, Trade Negotiations Minister Jim Sutton said yesterday. Leaders of the two nations agreed during last week's Apec summit in Chile
      AP  -  194 words
    • 415 15 Reports say Anil Ambani may issue statement soon Bloomberg [NEW DELHI] Reliance Industries Ltd's shares fell yesterday on reports that vice-chairman Anil Ambani may issue a statement on the ownership of the company, raising speculation of differences with chairman and brother Mukesh
      Bloomberg  -  415 words
    • 721 15 After the 'golden year' of 2003, regulators apprehensive of shady deals have grown wary Reuters ZHENG Peimin recalls one of the earliest buyouts he crafted as though it were yesterday. "It took us six months from start to finish," the 32-year-old head
      Reuters; REUTERS  -  721 words

  • ASIA-PACIFIC/WORLD
    • 434 16  -  UK consultancy estimates that the banks manage US$5.35t in funds By NEIL BEHRMANN in London ASSETS managed by private banks, which look after the funds of the rich and famous, have surged 12.6 per cent to more than U555.35 trillion in just 12 months.
      434 words
    • 286 16 Bloomberg [BRUSSELS] Royal Dutch/Shell Group, Europe's second-largest oil company, says it will adopt international accounting standards in 2005, a change that will cut its assets by US$4.7 billion, in part because of changes in its pensions. Total debt will rise
      Bloomberg  -  286 words
    • 445 16 Charlie Bell will leave after just 7 months on the job AP [CHICAGO] McDonald's Corp CEO Charlie Bell, who was diagnosed with colorectal cancer in May, resigned to focus on his battle with the disease, forcing the company to make a sudden leadership switch
      AP; AP FILE PHOTO  -  445 words
    • 26 16 [TOKYO] A couple admires illuminated Christmas trees in Tokyo yesterday. About 65.000 light bulbs illuminate Christmas decorations at Tokyo Tower. REUTERS
      REUTERS  -  26 words
    • 351 16 Bloomberg [WASHINGTON] General Electric Co has agreed to buy a Citigroup Inc business that provides lending and leasing to the trucking industry for US$4.4 billion in cash to expand its commercial finance unit where it already has customers. Stamford, Connecticut-based GE
      Bloomberg  -  351 words
    • 262 16 Reuters [NEW YORK] Computer Associates International Inc is set to name International Business Machines Corp (IBM) sales executive John Swainson as chief executive, completing a sevenmonth search to replace indicted former CEO Sanjay Kumar, industry sources said on Monday. Frank Dzubeck, an
      Reuters  -  262 words
    • 188 16 AFP [SYDNEY] Anglo-Austra-lian mining group BHP Billiton said it had completed an off-market share buyback worth A 52.27 billion (552.9 billion). Calling the move the largest of its type ever completed in Australia, BHP Billiton said it bought 180.72 million shares at A 512.57
      AFP  -  188 words
    • 224 16 Reuters [WASHINGTON] Spending in Eastern Europe and Asia is expected to lead a recovery in the global technology market over the next three years, according to an industry report released on Tuesday. After years of sluggish growth, spending is expected to climb steadily through
      Reuters  -  224 words

  • WORLD
    • 656 17 Demand for the popular iPod will continue to boost profits, say analysts AP. Bloomberg [NEW YORK] Apple Computer Inc stock jumped to a four-year high on Monday after a major Wall Street firm nearly doubled its price target on the stock, saying
      AP.; Bloomberg; AFP  -  656 words
    • 230 17 Bloomberg [LONDON] London is the world's biggest derivatives trading centre with 43 per cent of the US$l.5 trillion-a-day market as more people trade interest-rateproducts, according toan International Financial Services Lordon (IFSL) report. The UK's share in the three years to April 2004 rose
      Bloomberg  -  230 words
    • 328 17 15,000 investors seek 100 million euros in damages Reuters [FRANKFURT] Deutsche Telekom shareholders were set to allege in court yesterday that Europe's biggest telecoms carrier misled buyers of 15 billion euros (Ss32 billion) worth of shares during the Internet bubble in 2000. Frankfurt judge
      Reuters  -  328 words
    • 331 17 Bloomberg [WASHINGTON] Orders at US factories for durable goods probably rose 0.5 per cent in October, driven by demand for machinery and metals, according to a survey of economists in advance of a Commerce Department report. The expected gain in bookings for
      Bloomberg  -  331 words
    • 242 17 Reuters [WASHINGTON] Time Warner Inc is close to a deal with US regulators in which the world's largest media group would pay about US$75O million to settle allegations of accounting irregularities at its America Online division, The Washington Post reported yesterday. The proposed deal
      Reuters  -  242 words
    • WORLD WATCH
      • 106 17 AFP [SEOUL] US investment fund Lonestar has offered to sell its controlling stake in Korea Exchange Bank to HSBC Holdings, the Maeil Business newspaper said here yesterday. Citing banking sources and financial watchdogs, it said Lonestar offered to sell the 50.53 per cent stake in
        AFP  -  106 words
      • 79 17 Bloomberg [LOS ANGELES] Cisco Systems, said fiscal first-quarter profit would have been 20 per cent less if the company recorded costs for stock options granted to employees. Net income for quarter ended Oct 30 would have been US$l.l2 billion instead of the US$l.4
        Bloomberg  -  79 words
      • 108 17 Bloomberg [NEW YORK] Loews Corp, an owner of insurance and tobacco businesses run by New York's Tisch family, agreed to buy the 12,872-km Gulf South Pipeline and natural-gas storage system from Entergy-Koch for US$l.l4 billion, expanding in an industry the company entered last year. The
        Bloomberg  -  108 words
      • 122 17 AP (BANGKOK] An entertainment tycoon leading Thailand's effort to buy a stake in the Liverpool soccer club said on Monday he is still interested in the deal but he would first want to reach a merchandising agreement with Reebok International, which has the sole rights
        AP  -  122 words
      • 89 17 Reuters [KUALA LUMPUR] Qatar-based broadcaster Arab satellite TV network Al Jazeera plans to spend up to US$3O million to launch an English-language news channel by the end 0f2005, a spokesman for the network said yesterday. It will hire more than 300 people and operate
        Reuters  -  89 words
      • 82 17 Bloomberg [MELBOURNE] Xstrata pic, the world's biggest exporter of coal for power plants, will make a hostile A 57.4 billion (559.6 billion) cash offer for WMC Resources, to expand metals output after failing to agree on a takeover. Xstrata will offer A 56.35 a
        Bloomberg  -  82 words
      • 101 17 Reuters [SEOUL] Creditors of South Korea's LG Card Co are pushing the former parent group to shoulder the bulk of a proposed 1.2 trillion won (Ssl .9 billion) bailout of the credit card company, a creditor official said yesterday. Korea Development Bank and
        Reuters  -  101 words
    • 492 17 LAT-WP [NEW YORK] Donald J Trump's newest boardroom message is: "You're bankrupt!" For the fourth time in the last 14 years, casino companies owned by the businessman turned popculture icon have filed for bankruptcy. This time, Trump Hotels Casino Resorts Inc is buried
      LAT-WP; AP FILE PHOTO  -  492 words

  • AVIATION
    • 507 18 But new trade chief is prepared to take that chance in Airbus-Boeing row Reuters [BRUSSELS] Brussels and Washington may both lose if their row over subsidies for aircraft rivals Airbus and Boeing goes to a dispute settlement procedure at the World
      Reuters  -  507 words
    • 768 18 Plane maker plans to market its answer to 7E7 from next month: source Bloomberg [SEOUL] Airbus, the world's biggest plane maker, will win approval from its parent to invest US$3.3 billion in developing a 250seater jetliner to compete with a
      Bloomberg; AFP FILE PHOTO  -  768 words
    • 359 18 Reuters [BANGKOK] Thailand said yesterday it will delay buying some US$2 billion of Airbus aircraft until the European Union eases food import restrictions. Prime Minister Thaksin Shinawatra told reporters he had instructed Thai Airways International to delay ordering the planes
      Reuters  -  359 words
    • 277 18 Bloomberg [CHICAGO] AMR Corp's American Airlines, the world's largest carrier, delayed the deliveries of 54 Boeing aircraft, postponing US$2.7 billion in spending in the next six years. The agreement with Boeing lets American delay the deliveries, set for 2006 through 2010, for as
      Bloomberg  -  277 words
    • 195 18 AP (SYDNEY] Cut-price carrier Virgin Blue said yesterday the cost of using Australian airports is spiralling upward and asked the government to review the deregulated system of charges. CEO Brett Godfrey said the company wrote to Transport Minister John Anderson seeking
      AP  -  195 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
    • 727 19  -  July talks in Jakarta to bring together littoral states and user countries By DONALD URQUHART [SINGAPORE] Warning of the immense costs resulting from any closure of the straits of Malacca and Singapore, the International Maritime Organisation (IMO) is convening a high-level conference
      FILE PHOTO  -  727 words
    • 832 19  -  STRAIT TALK By DAVID HUGHES NEWS that the International Maritime Organisation (IMO) plans to convene a high-level conference in Jakarta next year to "consider ways and means of enhancing safety, security and environmental protection in the straits of Malacca and Singapore", is
      832 words
    • 291 19 SGX '000 Nov 23 St Vol CH Offshore 0.39 0.01 1186 Chuan Hup 0.65 0.01 932 Cosco Corporation 1.20 0.04 ***** CWT Distribution 0.55 unch 0 Ezra Hldgs 108 0.01 1053 Freight Links 0.10 unch 370 Grand Banks Yacht 0.90 unch 11 Java Holdings 1.03 -0.02 361 K1
      291 words
    • 292 19  -  By DONALD URQUHART [SINGAPORE] PSA International appears to be taking another stab at securing a stake in an Indian port venture with the submission of a financial bid for Royal Dutch Shell's proposed LNG and dry cargo port project in Gujarat. The Singapore-based
      292 words
    • PORT SHOTS
      • 129 19 Bloomberg [SEOUL] Posco, South Korea's biggest steel maker, said it will buy 2.2 per cent of Korea Line Corp, in a move that may help the shipping line fend off any takeover attempt by the UK's Golar LNG Ltd. Korea Line delivered 27
        Bloomberg  -  129 words
      • 73 19 Bloomberg [SINGAPORE] China Shipping Group Co, the country's second-largest shipping company, has been promised a role transporting liquefied natural gas for the Shandong LNG project, a company official said. The National Development and Reform Commission, the nation's main planning body, told China Shipping that it
        Bloomberg  -  73 words
    • 460 19 Bloomberg [SHANGHAI] China should end its ban on overseas vessels carrying containers between Chinese ports to enable Shanghai to become a proper international hub, according to some of the world's biggest container shipping lines. Chinese regulations prohibit overseas shipping companies from
      Bloomberg; BLOOMBERG FILE PHOTO  -  460 words
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  • EDITORIAL & OPINION
    • 520 20 EDITORIAL MALAYSIAN Prime Minister Abdullah Ahmad Badawi has said his government will not drop its six-year-old currency peg even if China decides to tweak the fixed value of the renminbi, also known as the yuan. Does this mean that Malaysia will continue to hang on to
      520 words
    • 1194 20  -  Commuters have to be responsible for their own safety at MRT stations, which are as safe as they can be JOYCE KOH Reporter SAFETY on MRT trains has always been a priority and a matter of public interest. And especially so in
      FILE PHOTO  -  1,194 words
    • 788 20  - Another win for' lifestyle regulation' in Europe THE BOTTOM LINE MATTHEW LYNN Bloomberg IN the United Kingdom, the office may never be the same again. Smoking rooms, those havens of intrigue, are about to go the way of executive washrooms and typing pools: consigned to the archaeology of corporate life.
      Bloomberg  -  788 words
    • 1776 21  -  Americans are upbeat about President Bush's next term, but are ambivalent about the main elements of his agenda By ADAM NAGOURNEY, JANET ELDER AP AFTER enduring a brutally fought election campaign, Americans are optimistic about the next four years under President George W Bush, but have
      AP; AFP  -  1,776 words
    • 657 21  -  LETTERS TO THE EDITOR Kelvin Yeo, CFPCM Financial Planning Director Financial Alliance Pte Ltd THE writer of "Confession of a financial adviser" (BT, Nov 10) wrote very subjectively about a topic that has been debated over many years throughout the insurance advisory industry.
      657 words

  • Page 21 Miscellaneous
    • 181 21 CRYPTIC CROSSVW >RP —LJJ-—L^J|J—^ for foreign money (6) vebper 26 SEC^ND^AR^OF^t? 6^ 27 Endless rustic frame (4) top drawer (4-5) torted, 10 Alpaca, 12 Spotty, 13 DOWN 14 Rustics left out of joke (9) Caryatid, 15 Novices, 16 Comb, 20 1 Right demand (5) 16 Hang up -no longer en-
      181 words

  • 3920 22 STRAITS TIMES INDEX STOCKS Stadium Wl do— Pang* Stodmam* m Ow Chang* Allgreen 50c 0.29 1.030 +0.035 NOL 2.13 3.000 +0.050 BIL Intl U520c 0.44 0.955 +0.015 OCBC 10.11 13.500 Capita Land 1.38 2.080 +0.050 Parkway H 25c 0.67 1.450 +0.020 Chart SemiCond 26c 0.82 1.090 +0.040 People's
    3,920 words

  • 2689 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In S$ In US$ *dy yr ttdy Syr %dy %yr Nov 22 Index Change Change Change Change Change Change World Index Preliminary 823.0 -0.4 5.7 -0.5 4.4 -0.5 7.7 t EAFE Preliminaiy 747.6 -0.9 6.6 -1.0 7.4 -1.0 10.7 Europe
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  • Page 24 Advertisements
    • 1622 24 I TO USA/CANADA I EXPORT I I OTHER DESfjNATigNS ~l Ivcsa Ivor Irnj TO SHU*GIIAO<|MUKI HOUSTON ll TO AUSTRALIA (AUSTRALIA ASIA EXPRESS) PiO NEDUOYD HOUTMAN 27E48 OMIT 24/11 I 12/1? 11/12 19/12 17/12 17/12 20/12 VKSfI VOY' ETA SIN PKG I FRf I Mtt I SYD MB. ADt P&O NEDUOYD
      1,622 words
    • 907 24 likhkasia iioto smviq ygsa/vor mtoo) hbghtpd ho km ui w «i STUfTSVWTM/li 1$ 3.2 25/11 77/11 02/12 05/12 07/12 snuurcvßmitt/i7 is 3.2 w/12 12/12 it/12 u/12 21/12 smnvtmutt/n is 3.2 23/12 30/12 02/01 04/01 IWIST AHA/MNOAL tOKO SVS vßsa/voT ramkkti hbght(M) tor m khh mwi [sm mc ho» cgp hm
      907 words

  • Page 25 Advertisements
    • 955 25 MOi Combines CT o rang* of shipping modes to ensure timely, ratable services covering major ports m Nonti America, Europe, Japan, Asia, Africa A Oceania, 1 For Schedules, BL Searches, and Container Tracking, visit on our Home Page: www.molsin.cojtusfl www.homburgsuj.com .ASAfSHtVIg EXPORT! tktfc* (*****22 2883 .SAft SERVICE (EXPORT) Hotfcr (65)
      955 words
    • 1363 25 vessel wy sin jw hkg khh imc kyh his vessel voy sih jkt sub hkg usn pus HY MIDGE W6S ZM _4/U Vtt 11/1213/12 IS/1715/12 KMTC SINGAPORE 416S 2f/11 2/12 3/12 8/1? 12/12 18/12 HY VLADIVOSTOK ISIS 1/12 11/12 14/12 11/12 20/12 22/12 22/12 KMTC SHANGHAI 414S 5/12 8/12 9/12
      1,363 words
    • 1012 25 a<33 WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS vtssa vot sm Tklangl Colombo hsneva mam KOIA HIWIRA YI-WOS3 22 MOV 24 WW 1 V NOV MSh. Q3M IHDIU 6AWDHI 0088W 29 NOV 01 DEC 04 DEC 07 DEC 10 DEC mmm oomw Q6Dec mdec
      1,012 words

  • Page 26 Advertisements
    • 765 26 uflilf WALLENIUS WILHELMSEN website: http://www.2wglobol.tom vessel Tor ramp height sm lk~ mo "how mi* say »al o»f nyc miw mo» TARONGA AF423 3201*» 6.25* 01/12 25/12 04/01 11/01 12/01 16/01 14/01 11/01 08/01 TAMESIS AF424 3201 MS 6.4*1 19/12 M/ 01 17/01 24/01 25/01 03/01 21/01 01/02 21/01 TAMPA AfSOl
      765 words
    • 1324 26 rasa m si m— _assa m at— *L-— CSF 2301 ootip 25/11 27/11 r/KMIM !2Z5 25Z1J a/lJ Of 2301 0062P 2IZU W/11 4142 2ZZU 30/11 PACIANDA 13S0N 21/11 N/11 iIMHIYi 7 M 24 30/1J 03/12 WHm »/1~ W/ll fACMITAN 9274 02/12 05/12 csf 2301 ssml aszu pi/12 CSF 2301 0064P
      1,324 words
    • 662 26 i BSA x MYANMA n FIVE STAR LINE (Myanmar National Um) Loading for Yaagoi vessel vor sin pki pen pgu PAGAN 336W SLD SID HPA-AN 326W SID IN MALAYSIA: lOUSTEAD SHIPPING AGENCIES KUL/PKL 03-*****388 PIN: 04-*****15 ACCEPTIiO CONVENTIONAL C6O HKG SM HKG SM PGU PU KUC CRYSTAL HEART 13 SLD
      662 words

  • Page 27 Advertisements
    • 1431 27 I\m m /I S) S pori Agents lAL Skioptes Aomkv (S) Pt« Ltd (CR MO: 165M*****0Z) (If 180 Bonakoi lonic BuUna. Singapara *****6 ir M crnterasia w Fa>:tmM33 w.k»rt. www.htM«MhMi.«a SUPER EXPRESS SERVICE TO HONQ vcsa [wr osx wssa Ivor Ira jpnpßjoii tot |s«z |m hrw I WAN HAI 307
      1,431 words
    • 1135 27 1/7—l I IMCC MAM: TIL 6221-1333 FAX: 6121-5272 /fiy\ Jr LIIMCO CUSTOWSaVItfcnL622I-5596FAX:*****190 /(i/c J SINGAPORE: TONG XX) SMffMG PTt LTD ONftIIZMMOOOK wwwj4IIMS.CM Hvcsti I vot Iraaw 1 »ch I visa voy I rasw |sn Ivbsb Ivor irosw Iwa I <sa Iw raswltwcow 1 Brvttfj/I WK 5 ***** I 25/11 I
      1,135 words
    • 494 27 237»1^J0i/I^^o?S7?l^l^3/i2B ■flWfffll TIGER WAVE 238N 30-31/12 07-09/12 14- 5/ 2 I ■MUImI TIGER PEARL 239N 04-05/12 10-12/12 18-19/ 2 1 TIGER SKY 240* 07-08/12 14-16/12 21-22/12 ■■■■■TIGER SEA 241N 12-13/12 17-19/12 25-26/12 1 242N 14-15/12 21-23/12 28-29/12 1 MROItIGER CUFF 010N 03-04/12 09-11/12 19-20/ 2 I ■UUIbIPHUttN 307 06-07/12 13-15/12
      494 words


  • MOTORING
    • 648 29  -  BT exclusive It expects to provide cover for at least 1 in 2 cars registered this year, as it did last year By SAMUEL EE HALF of all new vehicles registered in Singapore are insured with just one company AIG. In terms of
      648 words
    • 642 29  -  By SAMUEL EE MOST motorists have at one time or another grumbled about registration taxes and COE premiums. But what they may not realise is that changes in government policies have actually increased the affordability of big cars and fuelled the popularity of two-litre
      FILE PHOTO  -  642 words
  • Page 29 Advertisements
    • 157 29 --W V THESE 2 QUESTIONS COULD WIN YOU A SINN TIMEPIECE: Name: NRIC: Age: Sex:M/F Occupation P .u I magnatic protection 756 Address Tel: Email: i lil f 'J',''" f dfiMwMf I Mow OTfll% Uiiu. li fljui Midi! §00 fill I wtUlf p' ease m °il your entry to: The
      157 words

  • EXECUTIVE MONEY
    • 226 30  -  By Chua Boon Lee Standard Poor's Associate, Fund Services THE connotfily and natural resources sector he enjoyed a renaissance in the past few Modi offeoubaed reham of fas sector leag«of UMiiiii MrtiiiilheFnEAW Ihjwwii iwlmrtiilil«btl»pufc—tt ortne noun resources sectorwnM^ dated qpisfciiwgiMidaiii jjwrof 6i2JKperaerte)fepastfcreyeer*oran ■aawl pn»l2 percent -sigAanly better
      226 words
    • 1068 30  -  YOU AND THE TAXMAN KANG CHOON PIN and SOH PUI MING look at the conditions for exemption of foreign-sourced service income and how this is an improvement over the former system RANG CHOON PIN, SOH PUI MING By ERNST YOUNG THE services
      By ERNST & YOUNG  -  1,068 words
    • 34 30 UNIT TRUSTS FUNDS LEGEND:All prices are indicative;Broadly Diversified; Narowly Focused;$ Lower Risk;^ Low to Medium Risk;& Medium to High Risk;** Higher Risk;open-ended;+Before subdivision of units;After subdivision of units;SP after stock split N.A-Non Dealing Day
      34 words
    • 1701 31  -  One of the strongest consensus views among market players is that the US dollar will weaken further in 2005. Is this inevitable, or are there any reasons for believing that it might strengthen over the next 12 months or so? TONY DOLPHIN looks at the issue
      AFP  -  1,701 words
    • 1395 31  -  MARK MYERSON gives some tips on getting the amount right MARK MYERSON BUYING the right amount of insurance is a tricky issue. But getting it right could be one of the most important decisions of your life. Most consumers are still stuck on which insurance
      1,395 words
    • 964 32  -  Should fund managers go after the former and stop targeting the latter? GENEVIEVE CUA looks at some issues that were raised at an investment forum last week GENEVIEVE CUA INVEST your CPF savings? Perhaps you shouldn't. At an investment forum last week, fund managers grappled
      964 words
    • 452 32  -  By GENEVIEVE CUA WHAT'S ailing the unit trust market? It's the fact that distributors like large banks dictate the types of products that fund managers churn out. Rich Nuzum, Mercer Investment Consulting's regional practice leader, says shelf space at banks and a number of distributors
      FILE PHOTO  -  452 words
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  • Page 31 Advertisements
    • 84 31 International Business Park (IBP) Close to Jurong East MRT station and bus interchange Raised floor system Column-free layout 142sqm onwards u| r Great tenant mix liw Column-free layout j| jjBBBppSB. Changi Business Park 10-min drive to Changi airport and close to PIE ECP The Signature 127sqm onwards Next to Singapore
      84 words

  • Page 32 Advertisements
    • 375 32 ■^Bs^H^yi^^aSSfeSSiKS^^^^B «i£ jff V Although the information in this document has been obtained from sources which Citigroup Asset Management (CAM) believes to be reliable, CAM does not guarantee its accuracy and such information may be incomplete or condensed All opinions and estimates in this document constitute CAM* ludqement as of
      375 words
    • 3 32 t mUI sr*
      3 words