The Business Times, 22 December 2004

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Total Pages: 28
1 28 The Business Times
  • 14 1 THE BUSINESS TIMES SlNfoßflfefe Eckfr online at http://business-times.asial.com.sg MICA (P) 023/03/2004 Wednesday, December 22,2004
    14 words
  • 885 1  -  SINGAPORE ECONOMY: OUTLOOK 2005 Some private sector economists are expecting a sharp slowdown next year, but the government's forecasts are more upbeat By ANNA TEO [SINGAPORE] Depending on who you hear it from, the Singapore economy is either in for a rough ride next
    Source: MTI  -  885 words
  • 561 1  -  Move will benefit 4,000 ships, with $2.5m in fees saved By DONALD URQUHART [SINGAPORE] lipping the ante in a competitive industry, the Maritime Port Authority of Singapore (MPA) has slashed port dues in a bid to maintain Singapore's status as a regional
    561 words
  • 47 1 TOP STORIES ...PG 2,4 COMPANIES... PG 5-9 MARKETS PG 8 SINGAPORE PG 10 ECONOMY PG 11 M'SIA/INDON ..PG 12 CHINA/INDIA ...PG 13 ASIA-PACIFIC ..PG 14 WORLD PG 14 AVIATION PG 16 SHIPPING PG 17 EDITORIAL PG 18 LETTERS PG 19 STOCKS PG 20-21 MONEY PG 27-28
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  • 137 1 STI 2.063.59 (+7.35) ST INDEX FUTURES 2,053.00 (unch) SIMSCI 245.82 (+1.23) SIMSCI FUTURES 245.90 (+1.10) MARKETS Tuesday Change KLSECOMP 906.50 -3.11 NIKKEI 225 11,125.92 +22,50 HANG SENG 14,180.79 -33.25 SET INDEX 671.50 -4.21 JAKARTA COMP 976.31 +9.50 MANILA COMP 1,775.45 -10.80 SEOUL COMP 882.82 -1.49 SHENZHEN B 231.73
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  • Page 1 Advertisements

  • TOP STORIES
    • 769 2  -  Company is investing in innovations to build up customer base By SHOEB KAGDA ♦in Jakarta t'NIMBLE, technology-driv-companies such as PT ♦Info Asia Teknologi Global '♦will succeed in Indonesia's telecoms industry despite the market dominated by two gi- -ants, according to company
      Source: Bloomberg  -  769 words
    • 426 2  -  It has bought 36.42m shares at $13.60-$13.90 By SIOW LI SEN TStNGAPORE] Going aW cracking pace, United Overseas Bank seems to have completed its $500 million share buy-back in a mere six weeks or so. Observers now wonder what's next as
      Source: Bloomberg  -  426 words
    • THREE-MINUTE DIGEST
      • 58 2 LISTED property groups that have the most to gain from any casino project in Singapore will include City Developments, Singapore Land and Amara Holdings. The extent of the benefits depends on whether the project is built in Marina South or Sentosa, says
        58 words
      • 92 2 MYANMAR-BORN banker and property magnate Serge Pun could give Singapore its first listed company from his home country in a merger deal with loss-making NeoCorp International. Sesdaq-listed NeoCorp will swap each of its shares for one new share of Yoma Strategic Investments,
        92 words
      • 59 2 NTUC Income yesterday announced a higher bonus and an anniversary bonus for life insurance policyholders on the back of strong investment gains. But even when combined with 2003's bonus increase, the net rate of return is still below 2002's when the bonus rate was
        59 words
      • 79 2 US President George Bush plans to unveil a federal budget that would cut the US deficit in half in five years and maintain strict spending discipline. "We will submit a budget that fits the times. It will provide every tool
        79 words
      • 81 2 INDONESIA'S constitutional court said yesterday parts of a landmark oil and gas law that opens the industry to competition were unconstitutional, but did not strike down the entire law as had been feared by oil executives. However, one article annulled could hurt
        81 words
      • 77 2 SALEH Sulong, the executive chairman of DRB-Hicom, a listed property, auto and finance conglomerate, has been buying shares in EON Capital, leading analysts to wonder if the moves come ahead of plans by DRB-Hicom's new owners to sell its stake in the
        77 words
      • 98 2 POOR Hong Kong. After the recent brouhaha over the failed IPO of what should have been the world's largest property trust, it drew comments from China's president that were interpreted as a warning to shape up. To rub salt into the wound, the
        98 words
      • 80 2 INDIA and Malaysia on Monday agreed to join forces to develop satellites and build an international airport in Hyderabad following wide-ranging talks between the two countries' leaders. The joint venture agreement between Antrix Corporation Limited, the Indian Space Research Organisation's commercial subsidiary, and
        80 words
      • 72 2 SWITZERLAND'S ÜBS faces legal action for possible breaches in securities laws due to its relationship with scandal-plagued US healthcare company Health South, the bank said yesterday. The world's seventh-largest bank said the US Securities and Exchange Commission had issued a so-called Wells Notice,
        72 words
      • 102 2 A TERROR attack on a tanker delivering liquefied natural gas at a US port could set off a fire so hot it would burn skin and damage buildings nearly 1.6 km away, US government scientists say in a report expected to
        102 words
    • 545 2  -  It clinches Triple A Awards from The Asset magazine By JOYCE KOH [SINGAPORE] Temasek Holdings' precise deal execution has won the investment company a top regional corporate award for "showing the way in how deals should be executed". From M&A deals to exchangeable
      545 words
    • 961 4  -  RETAIL RENTS: OUTLOOK 2005 But easing seen from 2006 with more Orchard Rd space available and 'big-box' concepts By VINCE CHONG [SINGAPORE] Retail rents are expected to stay firm for at least the next 12 months because of limited supply. But they may
      961 words
  • Page 2 Advertisements
    • 117 2 *H Incorporation services in all major jurisdictions Global network of offices Ready-made companies available Management and administration services China business registration Accounting and trade support services Virtual office :xrt r Personal and j TO ARRANGE A FREE CONSULTATION CONTACT: SimonneToh T: +65 6535 3382 F: +65 6535 3991 E: singapore@ocra.cofn.sg
      117 words


  • Page 4 Advertisements
    • 609 4 To advertise oil 1800L289 8822 J Email: notices@sph.com.st BERGER BERGER INTERNATIONAL LIMITED (Incorporated in the Republic of Singapore) Company Registration Number: *****7986G NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Berger International Limited (the "Company") will be held at its registered office at
      609 words
    • 206 4 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF A-HOUSE BOUTIQUE HOTELS PTE LTD (In Creditors' Voluntary Liquidation) NOTICE Of RESOLUTION At the Meeting of Creditors of the abovenamed Company duly convened and held at Emerald Room 1 2, The City Bayview Hotel, 30 Bencoolen
      206 words
    • 204 4 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF A-HOUSE (SINGAPORE) PTE LTD (In Creditors' Voluntary Liquidation) NOTICE OFBMOUITION At the Meeting of Creditors of the abovenamed Company duly convened and held at Emerald Room 1 2, The City Bayview Hotel, 30 Bencoolen Street, Singapore
      204 words
    • 586 4 IN THE MATTER OF THE COMPANIES ACT (CAP. SO) AND IN THE MATTER OF CHUANG XIN TECHNOLOGY PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) (Co. Reg. No. *****7483 M) At an Extraordinary General Meeting of the members of Chuang Xin Technology Pte Ltd. duly convened and held at 1 Scotts Road.
      586 words
    • 569 4 COMWWA( T (CARSO. (IN MEMBERS'VOLUNTARY LIQUIDATION) (Co. Rtg. No. *****8190E) At an Extro#dinar> General Meeting of the members, of Sea bass Farm Pie Ltd. duly convened and held at 1 Scotts Road. #18-06 ShaW Centre. Singapore *****8 on 16 Decambcr 2004 at 10.30 a.m.. the following MMlions were passed Special
      569 words
    • 511 4 groupin^ju^M MEMBERS' VOLUNTARY WINDING-UP Al an Extraordinary General Meeting of the Company held at 190 Middle Road •16-02 Fortune Centre Singapore *****9 on Wednesday. IS December 2004 at 11.30 a.m.. the following Special Resolutions were passed: It was resolved: That the Company be wound-up voluntarily pursuant to Section 290( I
      511 words
    • 142 4 B^hKl Incorporate Being Biggest ißest By PPM 1^ lUKIAIIIU Trading Company (Free Trade Zone) Wholly Own Foreign Enterprise (WOFE) |^^WsWCompany/Branch/Representative Office lUULUmI Taiwan Malaysia Macau Thailand Brunei Delaware UIIIUSHUIiJ Labuan(M'sia) Nevada Hong Kong 'Singapore BVI ♦Cayman Virtual Office Facilities Secretarial Service Forwarding (Telephone I Fax I Mail Correspondent Address) Ippy
      142 words

  • COMPANY NEWS
    • 618 5  -  Move will make it more competitive and boost its appeal to investors: analysts By JOYCE KOH BESIDES benefiting the Port of Singapore Authority (PSA), the lower port dues announced yesterday look set to hasten the pace for a possible PSA listing, said analysts.
      Source: Nielsen Media Research  -  618 words
    • 348 5  -  The firm will also be setting up a sales office in Guangzhou By JEAN CHUA MAINBOARD-LISTED Jets Technics is setting up a manufacturing plant in China as part of its expansion in the mainland. Hong Kong-based Jets Technics, which has been in
      348 words
    • 674 6  -  The share swap exercise may make it the first Myanmar firm to list here By KENNETH LIM MYANMAR-BORN banker and property magnate Serge Pun could give Singapore its first listed company from his home country in a merger deal with loss-mak-ing NeoCorp
      674 words
    • 252 6  -  By DONALD URQUHART AUSTRALIA and Singapore agree on the concept of open skies but not the pace of reaching that agreement, Transport Minister Yeo Cheow Tong said yesterday. "I think the two governments have made their stands quite clear that the
      252 words
    • 651 6  -  HOCK LOCK SIEW By VINCE CHONG THE debate over whether Singapore should play host to a casino has been watched not only by citizens concerned about the likely social implications, but by businesses, too. Property groups, and in particular those with exposure to the
      651 words
  • Page 5 Advertisements
    • 342 5 MTHi MOTOR OF THE COMRMNES ACT (CHAPTER 50} Am M THE MATTER OF ZIWIA ADVERTNMQ PTE LTD (In Mambere' Vbiuntary Liquidation) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at at 101 A Upper Croat Street, #11-22 People* Park Centre, Singapore *****8 on Friday, 17*
      342 words
    • 293 5 IN THE MATTER OF THE COMHUBOI ACT (CHAFrtR Bfl| AND IN THE MATTER OF MFORTEL SOLUTIONS PTB. LTD. r. >. NOTICE OF CREDfTORf MEETMQ NOTICE IS HEREBY GIVEN that I Meeting of the Creditors of tha company will be held on Thursday, the 30th day of December 2004 al am
      293 words
    • 25 5 r 2Si^ r i£f 0 m JWPI jK .|S u SHR flHfclk. -1 Ul W MBMBji i J p i 1,111 i i it Wisely.
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  • Page 7 Advertisements
    • 71 7 SINGAPORE CELEBRATES ITS FIRST BILLIONTH SHIPPING TONNAGE MARK i t pap? kmlt ii £Ik it W^m <• ■HIE. I BM II fit* -3M H3&BBBB f—ei—i S^^SGSSB-^ 1 K^Hllll ll^S^Kl■ 111 l 1 M 17T"i1 r Al 1 1^ 1 Sintti l iF ai >l> i<ia fiiflTwTffiy TrgS^ Heartiest Congratulations: _H
      71 words

  • SINGAPORE MARKETS
    • 822 8  -  CURRENCIES Slide resumes after CFTC data confirms reduction of short positions LARRY WEE Senior Correspondent WHILE US dollar swings were confined within well-de-fined ranges as trading wound down over the past week, its weaker side is again looking more vulnerable now. "Barometric" data suggests
      822 words
    • 42 8  -  omm a ST rmilllHlMllllll f IV jj •^pWBpgPMBHMR^IHPi^HHgyaBBpipyiGPMBpPB^T^^g! i' v*-N Quanxl. covdi^ lliMMsW«8ipw ||jHj|ajg|n ■ipp; aGBBHi <^HVR^VMB^n'S79SMcSM9i«Pnp9nn9Plf^^^;^P0^ra9nSH||BHR^ j\ arising from any use ofthe information published herein. Brokers who wish to send in their reports can e-mail us at J W %tneivs@sph.com.sg
      42 words
    • 372 8  -  STOCKS R SIVANITHY Senior Correspondent ITS that time of the year when turnover drifts lower, prices drift without the benefit of newsflows sometimes higher, sometimes lower —and dealers drift off to sleep at their terminals. > >.• ;v -f'i Yet; it's also that time of
      372 words
    • TRADES TO WATCH
      • 57 8 TECHCOMP president and executive director Lo Yat Keung bought 2.5 million shares on the open market yesterday and now has a 59.25 per cent stake, up from 57.41 per cent. The shares were purchased at 24.5 cents each. Techcomp, a manufacturer and supplier of
        57 words
      • 73 8 A WEEK after its stake was pared by 9.4 million shares, JP Morgan Chase Co s deemed holdings in TPV Technology were raised to 10.24 per cent from 9.72 per cent when 7.3 million shares were bought on the open market on Wednesday
        73 words
      • 62 8 NEW Lakeside Holdings joint managing director Go Twan Heng bought 300,000 shares on the open market yesterday, raising his direct and deemed stake in the apple concentrate maker to 59.28 per cent from 59.1 per cent The shares were bought at about 9.8 cents
        62 words
      • 162 8  -  Compiled by KENNETH LIM PACIFIC Andes Holdings substantial shareholder Clamford Holding bought 1.4 million warrants and 2.9 million shares on the open market on Friday last week, raising the deemed holdings of four Pac Andes directors. The shares, bought at about 38.3 cents apiece, brought
        162 words
    • 352 8  -  CHART POINT By LIM SAY BOON OCBC Investment Research THE "Engulfing Bear", up against those ferocious year-end "WindowDressers", beat a hasty retreat, limping and whimpering. Well, so much for those "Japanese Candlesticks". This time last week we thought the market showed signs of
      Source: Bloomberg  -  352 words
    • Article, Illustration
      380 8 OTHER SINGAPORE INDICES Dec 21 VALUE CLOSE BT OB/OS -86.00 +277.00 BT CADI -*****.00 +130.00 110-day MA -*****.00 -9.00 AM-SG Equities 526.60 +1.19 SG Equities Elect 156.19 +0.15 SG Equities Fin 1625.84 +3.53 SG Equities Prop 503.51 +1.91 SIMSa 245-82 4-1.23 SiMSCI Futures 245.90 +1.10 MOST ACTIVE STOCKS VOLUME UnlFiber
      380 words

  • COMPANY NEWS
    • 339 9  -  TROUBLE AT CAO CAOT also acting as agent in jet fuel procurement for 3 customers in China By KENNETH LIM CHINA Aviation Oil said a subsidiary created to help it maintain a supply of jet fiiel to China has managed to procure
      AFP FILE PHOTO  -  339 words
    • COMPANY BRIEFS
      • 53 9 DBS Group Holdings' subsidiary PT DBS Victors Securities Indonesia has raised its paid-up capital to 55 billion rupiah (S$9.7 million) from 28 billion rupiah to comply with new capital requirements by Indonesia. DBS' indirect stake in ths Indonesian securities arm remains unchanged at 7
        53 words
      • 115 9 FLEXTECH Holdings said subsidiaries FE Global Electronics (PEG), Electec. Marvic International and Advance Flextech Co have repaid $14.2 million owed to four other lenders. The repaid sum—which represents the total liabilities that these subsidiaries owed to ABN Amro Bank, Malayan Banking Berhad. Oversea-Chinese Banking
        115 words
      • 48 9 SEMBCORP Industries said it has secured approval from the Malaysian International Trade Industry for its wholly owned subsidise SembGorp Utilities, to sell its 30 per cent Stake In SimeSembCorp Engineering Sdn Bhd. SembCorp expects the divestment to be completed early next year.
        48 words
      • 119 9 KOH Brokers Group said that It has, through a subsidiary, agreed to buy from its executive chairman Koh Hat Meng a 2,425 sq m freehold site for $7.2 million, the open-market value given by independent valuer CKS Property Consultants. The property, at the junction of
        119 words
      • 66 9 INTRACO said it has appointed lawyer and accountant Hoon Tai Meng as a non-executive, non-independent director and a member of the company's audit remuneration and nominating committees. Mr Hoon is the managing partner ofTM Hoon Co, and is a certified public accountant and barrister-at-law. He also
        66 words
    • 295 9 Bloomberg [BEIJING] China's biggest international carrier Air China denied a newspaper report that it may invest in China Aviation Oil (Singapore) Corp as part of the reorganisation. Air China tUs month raised US$l.OB billion selling shares in Hong Kong. China Aviation
      Bloomberg  -  295 words
    • 244 9 Bloomberg SINGAPORE Post Ltd, which has a monopoly on delivering the nation's letters, had its credit rating raised by Standard Poor's Ratings Services because of its financial performance and debt repayment The company had its long-term corporate credit rating and senior unsecured
      Bloomberg  -  244 words
    • 469 9 Bloomberg [JAKARTA] Indonesia's PT Bank NISP. 22.5 per cent owned by Singapore's OCBC Bank, said net profit climbed 78 per cent in the first 10 months of the year as it expanded lending and cut interest costs. Unaudited net profit for the 10 months
      Bloomberg  -  469 words
  • Page 9 Advertisements
    • 30 9 1 i I l I r i ii i ii P I 'J «l Recruit from a wider audience Call 1000 209 0022 or email reavit@sph.com.sg for your recruitment solutions
      30 words
    • 57 9 I I •I'., yv <•*. S**> r- r* I i, V r 1 v PIAGET EMPERADOR 4 f,;} f -J PiageT Geneve PIAQET Boutique: #01-11 Ngee Ann City Tower B. 391 Orchard Road, Singapore *****4. Authorised Retailers: Cortina Watch Roy Eastern Watch Sincere Fine Watches The Hour Glass (Scotts Shopping
      57 words

  • SINGAPORE NEWS
    • 472 10  -  Life policyholders get better returns on firm's strong investment gains By SIOW LI SEN NTUC Income yesterday announced a higher bonus and an anniversary bonus for life insurance policyholders on the back of strong investment gains. But even when combined with 2003's bonus increase,
      472 words
    • NEWS ROUNDUP
      • 63 10 Mew partner at Allen Gledhili ALLEN Gledhill. Singapore's largest local law firm, yesterday announced that tax lawyer Nand Singh Gandhi will jointhe firm as a partner from Jan 1. Mr Gandhi is the sole practitioner at Nand SioghGandhi Co, and was a consultant with Frsehills, Australia. He specialises in appeqjp
        63 words
      • 51 10 NETWORK for Electronic Transfers (Nets) now offers a new service which lets consumers personalise thetr CashCards with special messages, photos and images, die company said yesterday. Although the personalised cards do not come with a deposit, they can be topped up to $500 at normal CashOird top-up
        51 words
      • 40 10 FROMftjb 1. anyone wishing to adopU child froqa a foreign country must. complete a HameStudy Report (HSR) before proceeding with immigration and legal procedures for adoption, the Ministry of Community Development Youth and Sports announced yesterday.
        40 words
    • 285 10  -  Minimally invasive, less post-operative pain, faster recovery By DANIEL BUENAS A NEW $2.5 million robotic surgical system at Mount Elizabeth Hospital promises to make complicated operations minimally invasive procedures. Also, there will be less post-operative pain and the recovery will be faster. The
      285 words
    • 327 10  -  By DANIEL BUENAS THE number of petitions for bankruptcy and bankruptcy orders continued to fall year-on-year in November, although the total number of bankrupts in Singapore is still at an all-time high. According to figures released by the Insolvency and Public Trustee's Office at
      327 words
    • 303 10  -  By VINCE CHONG IT IS now official. Shoppers are a happier lot in Singapore, according to an inaugural customer satisfaction study by a team of four lecturers from Ngee Ann Polytechnic's School of Business and Accountancy. The school said in a release -that its
      FILE PHOTO  -  303 words
    • 301 10  -  By ANDREA TAN ANOTHER en bloc sale has been inked, taking the year's tally to 5687.9 million. Property and construction group Hiap Hoe has bought a freehold site at Novena for $15.19 million. Hiap Hoe bought the 16,926 sq ft site
      301 words
  • Page 10 Advertisements
    • 139 10 £5 is a sure-fire way to S Wck-start a New tear! I New Year's Eve I 4-Course Set Dinner I $68+++ per person 9* (Includes a glass or gj sparking wine) J}f* Wndy pre-book to avotal I dsappolntment. For Reservations, 6345 ***** vansh@hlnd.com.sgH j 1 i Where to wine, dine
      139 words
    • 110 10 CELEBRATE THE YULETIDE AT NEW PARK CAFE Christmas Eve Buffet 24 December 2004 I Savour a wonderful spread of traditional seasonal goodies as well r-CJ as authentic local dishes like Roast m Turkey with Chestnut stuffings, US PfIDK Roast Pr me Rihs, Grilled Crayfish with Terriyaki Sauce or even Turkish
      110 words
    • 2 10 Wti <j^|
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    • 25 10 (1 Iff)| <^^|[|^|flß I .w®Sf A m AK I fry^^^^yw^!i^ UA i T^y^'* 4 l i J ■g v jfl fcck übi ioba* ggSP* (liiliSil
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  • ECONOMY WATCH
    • 520 11 He hints at tough options on social security, promises spending discipline AP [WASHINGTON] President George Bush said on Monday he will submit a federal budget that will cut the US deficit in half in five years and maintain strict spending discipline.
      AP; AFP  -  520 words
    • 360 11  -  By ANTHONY ROWLEY in Tokyo JAPANESE firms operating in East Asia are becoming increasingly pessimistic about business prospects in most of the region for early next year, a monthly survey published yesterday by the dapan External Trade Organisation (Jetro) showed. "Sentiment
      360 words
    • 221 11 Reuters [BEIJING] China does not expect inflation to rise strongly, Finance Minister Jin Renqing said yesterday, suggesting little urgency for interest rate rises in the near future. The economy has not been overheating overall and there was "no strong signal showing that inflation
      Reuters; AFP  -  221 words
    • 323 11 Bloomberg [WASHINGTON] The Federal Reserve may have to adjust the benchmark interest rate next year based on changes in productivity "even if noticeable fluctuations in inflation are absent", said Jeffrey Lacker, president of the Federal Reserve Bank of Richmond.
      Bloomberg  -  323 words
    • 608 11  -  Respondents in the WBF survey call for better governance, reports AL LABITA AL LABITA ADVERSE reports about the ills plaguing the Philippine economy are nothing new as they come a dime a dozen and the latest one by a Manila think tank is no exception. f
      608 words
    • 450 11 Rents are a drag on inflation for now, say economists Reuters [HONG KONG] Hong Kong consumer prices are forecast to have risen slightly in the 12 months through November as an improving economy pushed up the price of goods, but rents are keeping a
      Reuters  -  450 words

  • MALAYSIA/INDONESIA
    • 1204 12  -  NEWS ANALYSIS He seems ready to seal deal, with sources saying RHB Bank will provide RM559m loan for his share purchase By PAULINE NG in Kuala Lumpur WITH the financing for the cash purchase of the 15.8 per cent stake in DRB-Hicom
      1,204 words
    • 276 12  -  By S JAYASANKARAN in Kuala Lumpur SALEH Sulong, the executive chairman of DRB-Hi-com, a listed property, auto and finance conglomerate, has been buying shares in EON Capital, leading analysts to wonder if the moves come ahead of plans by DHB-Hicom's new owners to sell
      FILE PHOTO  -  276 words
    • 4 12
      4 words
    • 387 12 Bloomberg [KUALA LUMPUR] Sales at retailers in Malaysia may rise more than expected this year because of faster econoqiie growth, stock market gains and festive shopping. Sales may gfow 7.7 per cent th|i year, beating torecasts, said Retail Group Malaysia, which conducts sales surveys
      Bloomberg; AP  -  387 words
    • 384 12 Reuters [JAKARTA] Indonesia's constitutional court said yesterday parts of a landmark oil and gas law that opens the industry to competition were unconstitutional, but did not strike down the entire law as had been feared by oil executives. However, one article annulled
      Reuters  -  384 words

  • GREATER CHINA/INDIA
    • 926 13 M'sian PM Abdullah urges businessmen to forge smart partnerships AFP [NEW DELHI] India and Malaysia on Monday agreed to join forces to develop satellites and build an international airport in Hy- derabad following wideranging talks between the two countries' leaders. The joint venture
      AFP  -  926 words
    • 251 13 Bloomberg [NEW YORK] Billionaire Lakshmi Mittal's US$4.5 billion purchase of Wilbur Ross's International Steel Group Inc won US antitrust clearance and is expected to be completed next quarter. A list of merger reviews published by the Federal Trade Commission shows the acquisition can
      Bloomberg  -  251 words
    • 279 13 Bloomberg (HOKGKQNGITb* gf i Ritz-Carlton Hotel Co, a luxury chain owned by Marriot International, said it plans to open the world's taltesthotel in Hong Kong The 1.374-foot high hotel, situated above Kowloon station, will have 300 rooms and occupy the top 13
      Bloomberg  -  279 words
    • 585 13  -  CHINA INSIGHT HK gets a ticking-off from Beijing, but talk of Macau overtaking NK is premature and misplaced JEAN CHUA Reporter POOR Hong Kong. After the recent brouhaha over the failed IPO of what should have been the world's largest property trust,
      585 words
    • 542 13 There is a lot of paperwork to be done for the IPO Reuters [HONG KONG] Hong Kong will probably wait until at least February to relaunch the world's biggest property trust listing, the US$3 billion Link Reit scrapped due to a
      Reuters; AFP  -  542 words
  • Page 13 Advertisements
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  • ASIA-PACIFIC/WORLD
    • 383 14 SEC notice covers the work its investment bank did for Health South Reuters [ZURICH] Switzerland's ÜBS Daces legal action for possible breaches in securities laws due to its relationship with scandal-plagued US healthcare company Health South, the bank said yesterday. The world's seventhlargest
      Reuters  -  383 words
    • 311 14 AFP [NEW YORK] Wall Street's famous "Charging Butt" statue, a symbol of unbridled capitalism and a major tourist draw, has been put up for sale. Bidding is expected to start at US$5 million. The Wall Street Journal on Monday reported that artist Arturo
      AFP  -  311 words
    • WORLD WATCH
      • 153 14 Reuters [AMSTERDAM] Samsung Electronics is expected to be the fastest growing top 10 chip maker this year while fellow memory chip maker Infineon will be Europe's biggest producer. Research group Gartner also said worldwide semiconductor revenue is set to increase 23 per cent to arecord
        Reuters  -  153 words
      • 148 14 Reuters [SEOUL] Creditors of Inchon CHI, South Korea's smallest oil refiner, have blocked the US$549 million sale of the flailed company to Chinese state oil trader Sinochem Corp, throwing into doubt China's first takeover of a foreign oil firm. Sinochem signed a final contract in
        Reuters  -  148 words
      • 100 14 Bloomberg [ZURICH] Cie Financiere Richemont AG, the world's second-largest luxury-goods maker, said chief operating officer Yannick Lakhnati resigned for personal reasons less than a year after joining the Swiss company. Mr Lakhnati, a 45 year-old French national who joined Richemont in January, will remain director of
        Bloomberg  -  100 words
      • 165 14 AP NEW YORK —Brokerage giant Morgan Stanley saw an 18 per cent rise in fourth-quarter profits, the company said yesterday. The brokerage also reported strong earnings growth for all 0f2004, but revenues for both the quarter and the full year fell short of Wall Street
        AP  -  165 words
      • 100 14 Reuters [SEOUL] HSBC Holdings Pic has offered to pay US$2.5 billion for the whole of Korea First Bank (KFB), the Maeil Business Newspaper reported yesterday, marking the global bank's third attempt to buy a bank in South Korea. HSBC's reported offer price is
        Reuters  -  100 words
      • 124 14 AFP [HELSINKI] Norwegian media group Schibsted, owner of the Scandinavian country's flagship newspaper Afienposten, launched a 705 million euro (Ssl .55 billion) takeover bid for Finnish group Alma Media yesterday. "Alma Media is a perfect strategic partner for Schibsted." the Norwegian group's chief executive
        AFP  -  124 words
    • 422 14 Company escapes fine, pledges to observe rules Reuters [WASHINGTON] US market regulators have charged Walt Disney Co with failing to disclose a web of relationships between the entertainment giant and some of its directors and their family members. Amid continued turmoil in Disney's boardroom,
      Reuters  -  422 words
    • 392 14 [NEW YORK] US high yield, or junk bond, issuance has reached record levels as companies have sought to take advantage of investors' appetite for risk, the Financial Times reported yesterday. Some U*****.8 billion worth of such bonds, beating last year's US$l36 billion, have
      392 words
    • 404 14 NYT [NEW YORK] The Exelon Corp, the owner of utilities in northern Illinois and eastern Pennsylvania, said on Monday that it would buy the Public Service Enterprise Group of New Jersey in a deal valued at about US$l2.B billion that would
      NYT; BLOOMBERG  -  404 words

  • MOTORING
    • 449 15  -  By SAMUEL EE ITALIAN high-performance tyre company Pirelli refuses to say how much it spends on rolling out its much sought after calendars. But it will disclose that for every US$l million spent on producing the Pirelli calendar, the company gets US$6O million worth
      449 words
    • 710 15  -  SAMUEL EE finds out how the brand plans to capture market share next year SAMUEL EE THE Suzuki brand is likely to experience a resurgence in 2005 with at least two new models and authorised distributor Champion Motors hopes it will be
      ARTHUR LEE  -  710 words
    • 306 15  -  By Samuel Ee EXOTIC car dealer Autobahn Motors has branched out into the lifestyle cafe business with a 24-hour F&B outlet at Selegie Road. Called Cafe@loo because of its address 100 Selegie Road the cafe is housed in a three-storey building notable not only for
      WILLIAM WHEY  -  306 words
  • Page 15 Advertisements
    • 318 15 IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF CALTEX E C PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) Company Registration Number: *****6371R NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that a Final Meeting of the abovenamed Company will be held on 24* day of
      318 words
    • 278 15 THE COMPANIES ACT, CAP. 50 REXEL TECHNOLOGIES ASIA PTE LTD (In Voluntary Liquidation) At an Extraordinary General Meeting of the members of the abovenamed company duly convened and held at its registered office at 10 Anson Road. #13-12 International Plaza. Singapore *****3 on the 21st day of December, 2004 at
      278 words
    • 352 15 IN THE MATTER OF THE COMPANIES ACT CHAPTER 50 ELECTRO AIR PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) REGISTRATION NO. *****2414W At an Extraordinary General Meeting of the Company convened and held at 2211 S^?" 1 St, Phoenix, Arizona, USA, on 17 December 2004, the following resolutions were duly passed: 1
      352 words

  • AVIATION
    • 637 16  -  BT exclusive Almost every network carrier in Asia-Pac is parts distributor's client By VEN SREENIVASAN WHILE the phenomenal growth of Airbus Industrie has hogged the headlines lately, a Singapore company has been quietly riding on the European planemaker's market successes. Sesdaq-listed
      637 words
    • 165 16 AFP (ABU DHABI] New UAE airline Etihad Airways said on Sunday it has finalised a deal to buy five Boeing passenger planes for a total of US$l.O9 billion. The first of the Boeing 777-300 ER planes is to be delivered in
      AFP  -  165 words
    • 385 16 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
    • 553 16 AFP [BEIJING] Aspiring aviation power China will export 20 MA6O passenger jets, realising its long-held ambition to sell Chinese-made planes in overseas markets, company officials said yesterday. Most of the buyers of the 60-seat regional planes were from African countries, the China Daily newspaper
      AFP  -  553 words
    • 628 16 Reuters [PARIS! The head of plane maker Airbus, Noel Forgeard, has won a power struggle to unseat his boss at the helm of parent European Aeronautic and Defence Space Co (EADS), where his challenges will include shaping the future of the aerospace group's defence
      Reuters; AFP  -  628 words
    • 247 16 AP [KUALA LUMPUR] Malaysian budget carrier Air Asia said yesterday it would hit 20 million passengers a year by 2009 on its Malay-sia-originated routes if the government lets the airline use the nation's old main international airport. Air Asia, the region's largest low-cost airline,
      AP  -  247 words
    • 217 16 AFP (BANGKOK] Thailand's Consumer Protection Board (CPB) is considering fining three low-cost airlines for misleading and confusing advertisements promoting rock-bottom fares, an official said yesterday. Fines of 50,000 baht (552,099) per airline were proposed for Nok Air, the budget arm of flagship carrier
      AFP  -  217 words

  • SHIPPING
    • 879 17 US study says fires could burn skin and damage buildings nearly a mile away AP [WASHINGTON] A terror attack on a tanker delivering liquefied natural gas at a US port could set off a fire so hot it would burn skin and damage
      AP; AP FILE PHOTO  -  879 words
    • 143 17 Bloomberg [KUALA LUMPUR] Malaysian International Shipping Corp (MISC), the world's ."DifflpW* CATHOT Oi llC|U6n6a natural gas (LNG), had the outlook efitSfbreign and local current# ratings raised to "positive from stable", a statement by Moody's Investors Service said. The move came after the shipper's sale of
      Bloomberg  -  143 words
    • 468 17 Bloomberg {TOKYO] Kawasaki Kisen Kaisha Ltd (K Line), Japan's third-largest shipping line, said it is-aiming to increase annual sales to a record 950 billion yen (Ssls billion) by March 2009, 16 per cent more than this year, as it taps rising global
      Bloomberg; FILE PHOTO  -  468 words
    • 259 17 0*21 SS W Vd CHOWrfxxa AM 001 589 Ouantfce AM 0.01 2S1 Coaco Corpora** 1.13 0.04 «107 CWTDWrWwn 057 i**h 39 EsraHWgi 115 jnCh 1«3 FfWtfttljnki .0 09 0.01 70 Gcantfaarto Yacht 0M 0.03 34 Iwallutfng— 1.02 0j01 1S04 KTVMmT 0 25 UKh 637 (malCoa. JUS 0.10 CM
      259 words
    • 820 17  -  STRAIT TALK By DAVID HUGHES N f OW here's a seasonal topic, except that I have ships' bells rather than the sleigh variety in mind. In 10 days there may be a few diehards who insist on welcoming the New Year by striking
      820 words
    • 378 17  -  By AL LABITA in Manila KEPPEL Batangas Shipyard has clinched a drydocking and upgrading contract for three Philippine Navy offshore patrol vessels from UK-based defence and security technology company QinetiQ. Keppel Batangas is supporting QinetiQ in the installation of additional equipment and overhauling
      378 words
  • Page 17 Advertisements
    • 141 17 wmrmrwwwrwrjrn r GLORY SHIP MANAGEMENT PTE LTD 0 Wa invite applicants for the folowmg position(s):- Jfl Working experience in tanker operations, supervision of a y loading discharging, safety audits, etc., Previous experience m *t as Master or Chief Officer onboard tankers required. p Knowledge of charter parties, laytime calculations and
      141 words

  • EDITORIAL & OPINION
    • 531 18 EDITORIAL THE regulatory authorities have lately indicated that a review of the regulatory regime in Singapore may be in the offing in the wake of the China Aviation Oil debacle. Last week, the Monetary Authority of Singapore and the Singapore Exchange said they would look
      531 words
    • 776 18  -  THE BOTTOM LINE FRANK CHING BEIJING'S relations with Tokyo, already strained by the intrusion of a Chinese nuclear submarine into Japanese territorial waters last month, have been worsened by Japan's release on Dec 10 of a new National Defence Programme Outline which for the
      776 words
    • 1246 18  -  The threat to Asian companies may not be from Western products, but the country next door By Joseph Baladi BY Asian consumers' standards, Asian companies don't build brands well. Asked randomly, Asians of different ages and backgrounds from Singapore to Shanghai, continue to recall and express preference
      AP  -  1,246 words
    • 997 19 In the new year, the global clothing and textile business will be transformed, potentially benefiting developing country producers and consumers Reuters AT the stroke of midnight on Dec 31, the world's clothing and textile business will be transformed, with potentially huge benefits for powerful developing
      Reuters; AFP; REUTERS  -  997 words
    • 343 19  -  LETTERS TO THE EDITOR Michael Wood Acting Australian High Commissioner Australian High Commission I WRITE in response to your editorial yesterday regarding the proposed Australian Maritime Identification Zone (AMIZ), announced by Prime Minister Howard on Dec 15. It is important that your readers
      343 words
    • 176 19  -  Denis Distant Singapore THE Singapore Exchange queries listed companies when there is unusual movement in traded prices or volumes, but this surveillance should be extended to suspended counters as well. Vantage Corporation is one such counter which has been suspended for many months pending injection of
      FILE PHOTO  -  176 words

  • Page 19 Advertisements
    • 103 19 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletter@sph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel
      103 words
  • Page 19 Miscellaneous
    • 293 19 CRYPTIC CROSSWORD 1 The frozen lea? (8) I 6 Not straightforward, not |H Iff HI WM WM WM about to accuse (6) 9 Cares about leading Penny P onto slope (6) 10 Husband Jack had time to inelude one C üban dance (8) 11 Used to pluck a guitar (8)
      293 words

  • 2777 20 STRAITS TIMES INDEX STOCKS Mmtkmrnm m Oom Piny St»<> 1 Q— O—» MgrwnSOc 0.30 1.100 +0-010 NOt 2.09 2.980 *0.0*0 M.m<ius20c o.4s o.aao -o oos oac 9m 13.400 CapHUnd 1.33 2.020 ♦OeOIQ P»rtcw»yH2Sc 0» UK +<1-010 Owl S«m<Cond 26c 0.70 0.946 food HK50e 0.39 1.330 GtyOv 90c 2-23
    2,777 words

  • 2499 21 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES la tool an ktl toV» OK 20 Iwd— Qangi Qmy Qxngi Qimy CfcwQi cm 04 is u ?j m to* ts*h**+m 5y_ _«4___y M -H Ml kmjj u 7i t> iu u tsj *9l -M M M 91__jy §SZ war i* 4j- m
    2,499 words

  • Page 22 Advertisements
    • 1113 22 Vesa Iwtlna ■ma»»| t oii» iOi|»< iiASI i 0 OOQMGM ma QW 12/11 I 87/»1 11*1 14*1 lt*l 12*1 1V»1 ■j j VTSSEI VOT |P< S4w"l PUG lit"" INE Wt W* QOCLMMMG 00E53 OMT 20/12 I 14/01 W\ 11/11 10*1 »*1 22*1 H UMAKUU OB 24/12 2V12 03*1 09/B1 11/01
      1,113 words
    • 621 22 nuii'g. ii. waayvwr imwto hbbhtdh m mm u> aw jkt snuirsvßdWE/ii is u 73/12 24/12 10/12 02/01 04/01 gumvoTutf/oi 15 12 13/01 i«/oi 11/01 I SmiTS WBWE/B IS 3.2 20/01 23/01 27/01 30/01 01/02 [WBff IMNA/MNttAi >OtO «V> vßsa/vDT jMggn jarnm tok jg mm w lai I w i« ml
      621 words

  • Page 23 Advertisements
    • 291 23 ImHEUWMpiIPPING :3|W® Mk utmiaiiii iki cms mi mmki cmi sfT V>S SSSin fb IHSaqSHS Mnlwlr |lw«ittillß W^|^tei >^<^ q^* t> ttlw PftM I Jmpmm httamd P*rH, Chlne P*rH Pwkwym* <fclfc—fcl (Jmpon) !S?rM— S M) ~K! im! lii! £w vm zz lIjJL, i i Tii| i mm&Ammm* www.toimflnofMnt.com fra >- TASMAN
      291 words
    • 676 23 jßsa jw _5L JL J* JL J2L Js_ J5L_ 3_ _*L J9L JSL J®L J2L_ wmwisw i« iy» 1/1 VI VI ivi 11/1 mcmmhiii 4iss «/i? w/i? 3Q/i? 4/i vi f/i wrwaes is vi vi ivi ivi n/i ivi w mmmm 4ias i/i s/i vi n/i is/i ivi |«r—t l«g|iyi|iyi|a/i|n/i[ivi|»vilivii(kmt(
      676 words
    • 756 23 WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS VfSSEI VOY SM PJUAN6 BMW K. SHIVA COIOMM fMfKflusi m arc ZaiL am ~¥kT aim. EOttWWm YHWSS 27 DK WOK 01JAII MM* 07 Jill HlHWftWttl JBflL BMH BM WWI 11MH Uili >AilV 6AMDHI OWW 10 JAW I2JAW
      756 words

  • Page 24 Advertisements
    • 1078 24 IMAI wallenius wilhelmsen website: http://www.2wglobal.tom VESSEL VOY RAMP ~HEiOHT~ SIH UC MAO HOW MIA SAV lAL ORF HYC MIW MOI TAMPA AfSOl 4201 DM 6.4 M 01/01 26/01 04/02 11/02 12/02 14/02 14/02 11/02 ot/02 TARAGO Afso2 3201 MS 6.4 M IS/01 10/02 19/02 26/02 27/02 04/03 02/03 06/03 23/02
      1,078 words
    • 1114 24 .ffisa m m ykm si ju -SO2OI 80ZJP 23/12 25/12 _PAt MWIAM !2g 21/12 24/12 -IACIM6A 1M 21/12 24/12 25/12 21/12_ PAC lAMDA 1369 M 75/12 24/12 illiliTi? ISM 21/12 11/12 TAC MP* UZfiß 24/12 27/12 wmii *210 M/» 02/01 CSF 2301 QQZtt 24/12 27/12 TTZII^^H csy 2301 W7SP 25/12
      1,114 words
    • 628 24 i BSfl x <l^MV= T'T!=!?Trf! I SVT?f9riTSSSI^^v MYANMA n FIVE STAR LINE (Myanmor National Line) Loading for Yangon VESSEL VOY SIN PKL PEN PGU PAGAN 3MW SID SU> HPA-AN 330W SID IN MALAYSIA: lOUSTEAD SHIPPING AGENCIES KUI/PKL 03-*****388 PEN: 04-*****1S ACCEPTING CONVENTIONAL CBO HKG SIN HKG SIN PGU PKL KUC
      628 words

  • Page 25 Advertisements
    • 530 25 Il\ft (T, 7). WIA chttcrasta JLLines SmXßm taiSs«B ESiTEjm. mmw SOB 3VII 31/11 01/17 01/11 03/11 17/11 Mm IVJI liy !KlI 5,, tt/1» */l» m/ 11 MOKMSfi SMI 45/H N/11 07/11 01/11 00/11 13/11 Hflj JVB J*Jf® ®L IMI 2*i 2/n mmmi sois 13/11 13/11 14/11 15/11 11/11 ivii mm
      530 words
    • 634 25 I/~T"~| DH7 I IMCC MAit TIL 4221-1 Ml WL 4221-5272 I Ar: a gUrnm LI 111 CO aßw*swni«Lmi-ii* wut *******0 I I MiwomowjooMgwwwim aßfwißiinP -i |wr |»w|mm |sw |ww vor maw «NOK I «11 I »/1I |WU |»/Iliwtt KfIMM M4l W/12 N/11 44/»1 |WM«*—S 411 21/12 H/12 itummm IMM I
      634 words
    • 453 25 ■PPiinTlGaSa 24SN 25 26/12 31-02/01 04-09/01 I ■MUiiUI TIGER WAVE 246* 21-29/12 04-06/01 11-1101 I ■QmnnGaPEML 247N 01-02/01 07-09/01 15-16/011 ■■■■■IIGEISKY 240N 1113/01 W-19/01 I ***** 08-09/01 14-16/01 22-23/01 SOI 24-27/12 01-03 01 iT-llDl I ■UfiyiLa TIGER CKEEIt 004 ?9 30/12 06-01/01 16-17/01 I WnGBSfMBT 097 02-03/01 09-11/ Dl J9jo/01
      453 words


  • EXECUTIVE MONEY
    • 997 27  -  YOU AND THE TAXMAN RUSSELL AUBREY and YEO KAI ENG examine how the goods and services tax can affect voluntary welfare organisations in Singapore RUSSELL AUBREY, YEO KAI ENG By ERNST YOUNG WITH the goods and services tax (GST) around for more than a decade,
      By ERNST & YOUNG; AP  -  997 words
    • 34 27 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
    • 1317 28  -  With global markets in a gridlock, trying to make money is like driving a truck through peak hour traffic. LIM SAY BOON offers pointers LIM SAY BOON WITH the big moves in equities and bonds well and truly over, making money in the markets in 2005 is
      STOCK.XCHNG  -  1,317 words
    • 148 28 THIS is the financial markets' murdersuicide scenario. That is, Asian and other central banks rapidly withdraw their funds from the US, sparking panic selling in the bond market. This will turn the hitherto controlleddescent of the US dollar into a tailspin. Interest rates will surge, US consumers
      Source: OCBC Investment Research  -  148 words
    • 641 28  -  By GENEVIEVE CUA INVESTMENT themes that marked 2004 like relatively muted returns from equities and US dollar weakness are set to haunt 2005 as well. Advisers to the wealthy are generally neutral on equities, and are recommending an underweight on bonds, given the expectation of further
      641 words