The Business Times, 23 December 2004

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Total Pages: 28
1 28 The Business Times
  • 20 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asia 1 com.sc MICA (P) 023/03/2004 hhi mm MM Thursday, December 23,2004
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  • 649 1 The following are extracts from recent reports and presentations by investment banks on the outlook for Asia's economies, currencies and markets in 2005. Credit Suisse First Boston Dec 21 Asia ex-Japan to grow 6.4 per cent in 2005 and 6.7 per cent in
    649 words
  • 678 1  -  But rent rebates of past six years to be withdrawn By ANDREA TAN [SINGAPORE] It's Christmas. And some industrialists are getting their gifts in the form of reduced rents from Jan 1. Singapore's largest industrial landlord, JTC Corp, said yesterday it will
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  • 136 1 Dsn 2,055.77 (-7.82) ST INDEX FUTURES 2.053.00 (unch) simso ***** (-0.99) SIMSO FUTURES 245.70 (-0.20) MARKETS Wednesday Change K1SEC0MP 903.30 -3JO NIKKEI 225 11.209.44 +83.52 HANG SENG 14,151.08 -29,71 SET INDEX 672.79 +1.29 JAKARTA CpMP 985.18 +8.86 MANILA COMP 1.789.74 -14.29 SEOUL COMP ***** +0.56 SHENZHEN B 237.10
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  • 48 1 TOP STORIES ...PG 2,3 COMPANIES... PG 4-7 BLUE CHIPS PG 8 SINGAPORE PG 9 ECONOMY PG 11 M'SIA/INDON ..PG 12 CHINA/INDIA ...PG 13 ASIA-PAC PG 14 WORLD PG 15 AVIATION PG 16 SHIPPING PG 17 EDITORIAL PG 18 LETTERS PG 19 BIZIT PG 26 PROPERTY.. PG 27-28
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  • Page 1 Advertisements
    • 1 1 NESS
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    • 41 1 PROPERTY Reits will continue dominance in 2005 PG 28 8 1111 BT ONLINE Access to BT Online is free after 6pm each day. But print subscribers can access our online news anytime. Call 6388-3838 to subscribe and activate your online account
      41 words
    • 62 1 SMRT: more Distinctive and dazzling character... v i k w»| Mi Radiant, intriguing and unashamedly feminine. The creativity of precious jewellery combined with the perfection of fine watchmaking. The epitome of style, elegance and true character <Jaeger-leCoultrp> For your free copy of The Manufacture's Book of Timepieces, please confact us
      62 words
    • 8 1 BizfT Morespyware to hit companies in 2005 PG26
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  • TOP STORIES
    • 790 2  -  Better economy, clearance of worst cases could cut number by 5% By ANDREA TAN [$INGAPORE] The number of mortgagee sales should ease in 2005 as the economy picks up and with most properties seized already out of the way. This should
      790 words
    • 44 2 IN yesterday's report on Bank NISP's earnings, the headline was wrong to say that the Indonesian bank is linked to DBS Bank. Bank NISP is linked to OCBC, which is building up its stake in the bank. We are sorry for the error.
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    • 775 2 Rising costs the biggest pain for Asian managers: survey TOP managers in Singapore and those in Malaysia, Hong Kong, Thailand, Taiwan and South Korea say rising costs and the need to cut prices are their biggest headaches, according to a recent survey. But these worries haven't led them
      775 words
    • 529 3  -  Five-star hotels here charge less than other Asian cities, says hotelier By VINCE CHONG [SINGAPORE] Pan Pacific Hotels and Resorts president Ichigo Umehara says Singapore hotels must think about raising rates or risk a slow demise. Five-star hotels like his chain now charge
      529 words
    • 437 3  -  But this has not led to any reduction in business travel By CHUANG PECK MING [SINGAPORE] Top managers in Singapore and those in Malaysia, Hong Kong, Thailand, Taiwan and South Korea say rising costs and the need to cut prices are
      Source: Synow/NFO World Group  -  437 words
  • Page 2 Advertisements
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  • Page 3 Advertisements
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  • COMPANY NEWS
    • 426 4  -  TROUBLE AT CAO Report says over 80% of 460,000 tonnes of jet fuel already awarded By KENNETH LIM CHINA-BACKED Unipec and Shell are believed to be among the winners of a jet fuel procurement tender opened by a China Aviation Oil
      BLOOMBERG  -  426 words
    • 302 4 Bloomberg CHINA Aviation Oil (Singapore) Corp's losses are an isolated incident and not a reflection on similar companies operating in Singapore, said a group representing Chinese companies in the city-state. China Aviation Oil's disclosure of a US$55O million loss last month highlighted the
      Bloomberg  -  302 words
    • 806 4  -  HOCK LOCK SIEW By DONALD URQUHART THE announcement by the Maritime Port Authority of Singapore (MPA) on Tuesday of a reduction in port dues shows once again the effort that Singapore is making in safe-guarding its maritime competitiveness. But the move must
      FILE PHOTO  -  806 words
    • 531 5  -  It plans to build 186 waterfront villas targeted at locals and expatriates By ANDREA TAN KEPPEL Land has stepped up its presence in the region within one week. The property arm of Keppel Corp said yesterday it has, through two subsidiaries, acquired
      531 words
    • 334 5 UOL issues bonds worth $506 m UNITED Overseas Land has issued $506.22 million worth of bonds exchangeable into United Overseas Bank shares as part of the property group's divestment of its holdings in the bank. The notes will be in denominations of $1,000 and will be traded in
      334 words
    • 161 5 Reuters SOUTH-EAST Asia's largest property firm Capita Land Ltd said it will hold a media and analysts briefing today but gave no details of what it would announce. The group's president and chief executive officer Liew Mun Leong will chair the briefing to be held
      Reuters  -  161 words
  • Page 4 Advertisements
    • 59 4 |VH VJ Eb<SBi^H^A^B^^HBBH I From Dec 2004 to Jan 2005, I >jl we w jjj donate $2 for every buffet SmiT" Lve c nner erec e^' X l—'• tmd^*°n I (!$l Day Brunch aSSa 9* Chair I I cha<^r!Sjte^«gUw^ ktaH 11,30 am to 2.30pm by Phoenix Garden Cafe or I
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  • Page 5 Advertisements
    • 104 5 r ;S3a 11 111 mp m jr** 3wP I'M :Lw: **4 «l thiasianbanioji Terms Conditions Please log on to www.dbt.com/ifl/dining to check validity dotes of offers. Prior reservations and advance orders ore necessary Please check with individual outlets/restaurants for WINNER details DBS Credit Card must be presented/mentioned before ordering to
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  • SINGAPORE MARKETS
    • 511 6  -  STOCKS Meghmani Organics among one of the better recent performers; uptrend in blue chips weakens R SIVANITHY Senior Correspondent TRADERS yesterday tried their best to keep the nascent rally in small caps alive via swift rotational swings as the recent uptrend in blue chips faltered
      Source: Bloomberg  -  511 words
    • 112 6  -  Compiled by JOYCE KOH lyre tapers off Ik "Noj!fc so Ajifc an/1 A ;jyssp»' j~tr fl#' < r jt i.v' I id ijh 1 *i^- r dip i wft ore- Raji 4k#r£A i*l~ f '1' fl >19 pnynnt" SembAY lilvfrf An/) 86 Ottttl (0 However, the ex-dividend exerdse has
      112 words
    • 516 6  -  CURRENCIES LARRY WEE Senior Correspondent VOLATILE losses in the sterling pound hogged the limelight again in overnight trading, in what was otherwise limited year-end range trading in currency markets. News of sharper than expected falls in both UK house prices as well as the
      Source: Reuters  -  516 words
    • 506 6  -  Compiled by KENNETH LIM Asian Micro CEO buys 1.2 m shares on market ASIAN Micro Holdings chief executive and managing director Victor Lim Kee Liew bought 1.2 million shares on the open market yesterday, and now has a direct stake of 28.09 per cent from 27.67 per
      506 words
    • Article, Illustration
      408 6 OTHER SINGAPORE INDICES Dec 22 VALUE Close BT OB/OS 53.00 +139.00 BTCAPI -*****.00 +73.00 BT 10-day MA -*****.00 +5.00 All-SG Equities 525.44 -1.16 SG Equities Elect 158.03 +1.84 SG Equities Fin 1631.26 +5.42 SG Equities Prop 500.60 -2.91 SIMSCI 244.83 -0.99 SiMSCI Futures 245.70 -0.20 MOST ACTIVE STOCKS VOLUME UniFiber
      408 words

  • COMPANY NEWS
    • 446 7  -  BT exclusive Institute to court foreign students aggressively in expansion phase By JOYCE KOH AFTER nearly five years at its Centrepoint premises, education player Hartford Institute is moving to bigger premises at North Bridge Road nearer to parent company Raffles Education Corporation
      ARTHUR LEE  -  446 words
    • 312 7  -  By JOYCE KOH A-SONIC Aerospace yesterday said its proposed investee company, Captive Vision Capital Limited (CVC) has completed the takeover offer of Skywest Ltd, a regional airline in Australia. Upon the close of the general offer on Tuesday, CVC had about 59.8
      312 words
    • 439 7  -  By KENNETH LIM SINGAPORE budget hotelier Fragrance Group and China-based seafood products supplier Ocean International have lodged preliminary listing documents with the Monetary Authority of Singapore. Fragrance, which operates eight hotels as well as develops small and medi-um-rise apartments for budget-conscious buyers,
      439 words
  • Page 7 Advertisements
    • 87 7 <0 Experience the treasures of £jl Si Chuan Dou Hua's 3rd Restaurant I Now open at the Grand Plaza Parkroyal Hotel 7) JtC You haven't really experienced Chinese cuisine till you've been to Si Chuan Dou Hua m Si Chuan Dou Hua Restaurant rSSCSSH Grand Plazo Parkroyal 10 Coleman Street,
      87 words

  • BLUE CHIPS
    • 893 8  -  It plans to expand its business in the local retail and taxi sectors, as well as overseas operations, reports JOYCE KOH JOYCE KOH THE übiquitous SMRT logo is going to be a more common sight in the future. The company, seen by some as a
      Source: Bloomberg  -  893 words
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      3,933 words

  • SINGAPORE NEWS
    • 597 9  -  Move could help to anchor existing manufacturers, attract new ones By ANDREA TAN JTC Corps move to cut industrial land rents was hailed by economists and market watchers yesterday. Economists say the move may help to anchor existing manufacturers to Singapore. and
      CHRSLOH  -  597 words
    • 377 9 A POTENTIAL fall in bankruptcies is likely in the near future as the number of writs of summons filed against individuals and companies fell year-on-year for a fifth straight month in November. Civil action in the courts is initiated through a
      377 words
    • 322 9  -  By SAMUEL EE THE COE premium for passenger cars has dropped below $20,000 as predicted by The Business Times three months ago. In late September, passenger car premiums were hovering at the $24,000 and $26,000 levels. The mid-quota year review, announced in the
      322 words
    • 171 9 Fraser Suites caters to the young FRASER Suites Serviced Residences, a subsidiary of Centrepoint Properties, yesterday launched its newly refurbished Play Zone children's area located at its Fraser Suites and Fraser Place apartments. The new area features a multi-purpose outdoor court, table tennis facilities and a rabbit hut.
      171 words
  • Page 9 Advertisements
    • 538 9 Extend your global reach ■I AH* JHSHNIfIp- Nfek Be a part of the International Enterprise Forum 05 2-3 February 2005, Raffles City Convention Centre, Singapore The International Enterprise Forum (lEF) is an annual meeting of top minds on issues relating to internationalisation. Over the course of two power-packed days, the
      538 words

  • SINGAPORE FOCUS: SERVICES
    • 1287 10  -  The market for recycling e-waste products is so huge that Citiraya welcomes new entrants into the industry, its CEO tell DANIEL BUENAS DANIEL BUENAS Electronic waste recycler Citiraya Industries may not exactly have fulfilled the alchemist's dream to turn lead into gold, but it certainly
      CHRIS LOH  -  1,287 words
  • Page 10 Advertisements
    • 151 10 I Usher in the spirit of the New Year with I I our tantalizing festive creations! I New Year's Eve 6-Course Set Dinner $98 +++per person (includes a bubbly toast of Mo£t Chandon) Kindly pre-book to avoid disappointment. For Reservations, 6333 1788, rangmahal@hind.com.sg uri a j* j 4 ,4 Diners
      151 words
    • 98 10 Watch a bevy of beauties show off the latest in leisure wear at Discovery Pub's Friday Fashion Nite. Show starts at 9pm every Friday. Also catch our happy hour from 3pm to Bpm on weekdays and all day weekends. RAFFLES MARINA 10 Tuu West Drive *****04 Tel: 6861 8000 Fax:
      98 words
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    • 104 10 1 THE NEPTUNE COLLYER QUAYT (Christmas 0 festive dinner St 25 December2oo% (fjf^ re*#? Danoe to a joyous Christrrias as you feast on a delightful I festive set dinner. Be entertained by Singapore's only Jj international topless cabaret and lively music by our v resident band. ""%»y Set Dinner $42+++
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  • ECONOMY WATCH
    • 591 11 Strong demand sets stage for firm growth in Q4 and in early 2005: analysts Reuters Bloomberg AP [WASHINGTON] The US economy grew at a slightly stronger 4 per cent annual rate, Easter than thought in the third quarter because imports were not as
      Reuters; Bloomberg; AP; BLOOMBERG FILE PHOTO  -  591 words
    • 387 11 Bloomberg [KUALA LUMPUR] Sales at Aeon Co (M) Bhd, the Ikea group and other retailers in Malaysia may rise more than expected this year be- cause of faster economic growth, stock market gains and festive shopping. Sales may grow 7.7 per cent
      Bloomberg  -  387 words
    • 383 11 Reuters [LONDON] The biggest question for foreign exchange strategists next year is shaping up to be less whether to sell the dollar than what currency to sell it against Most investment banks are convinced the dollar will fall for a
      Reuters  -  383 words
    • 809 11 Bloomberg [NEW DELHI] India may have to reduce its 1.32 trillion rupee (5549.4 billion) budget deficit to have its credit rating raised from two levels below investment grade, Ping Chew, a Singapore-based director and analyst at ratings services
      Bloomberg  -  809 words
  • Page 11 Advertisements
    • 41 11 is UUllfl MUMW fIQWtQ *9 pOtittV© uQHI Ptlnff 111. M&V by Wq Still. S&P ratings are "con- strained by its high level of pubMc and external and bv the nation "moriftst mm of ornwth" iwwwmkih s fuucwsipum ui gruwut Bloomberg nßßßpPwfe--'
      41 words
    • 253 11 J" i IN TtS MATTER Or I THE COMPANIES ACT. CAP. 98 AND IN TBI MATTER GV SNC -LAVALIN AMA PTC UP (la Mtasbar's Vnhpitary I Ipfililln nmnrrmmii, NOTICE IS HEREBY GIVEN punuam lo Sectioa 308 of Conym Act. Op. SO MM the Rim) Meeting of the Company wil be
      253 words
    • 224 11 IN THE MATTE* OP THE COMPANIES ACT, CHATJttJI AND A UDBO-VISUAL LAM) PTE LTD rtaMftirrvii iiiiij Reg. No. imUMK NtmfTiwnwtt ityTiy r NOTICE IS HEREBY GIVEN pvnaaM to Settha 308 of the CdMpaaiee Act. Cap. SO that a Final Meeting of the Mcadwit of 8m alii in animal Company will
      224 words
    • 192 11 NOTKX or MEETING OF CREDITORS M THE MATTER OF THE COMPANIES ACT (CHAPTER SO) AND IN THE MATTER OF TRMO SXA. PTE UD Notice i* hereby gnenpurauant to section 296 at the Camponiea Act (Cliaplai 50) aa cm rlifcn ra tL> "HJi m mwnng or rnf uoonon O" mt oboManomad
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    • 87 11 WBL CORPORATION LIMITED $$200,000,000 MEDIUM TERM NOTE PROGRAMME SERIES NO. 002 5570,000,000 UNSECURED FLOATING RATE NOTES DUE JUNE 2006 Pursuant to Condition 15 of the Notes, notice is hereby given that for the Interest Period beginning on 23 December 2004 and ending on (but excluding) 23 March 2005, the-Notes will
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  • MALAYSIA/INDONESIA
    • 491 12 Analysts give the thumbs up, citing rising competition in the region Bloomberg {KUALA LUMPUR] Genting Bhd, Asia's largest publicly traded casino operator, has v increased its stake in Smaller UK counterpart Clubs International further to benefit from of
      Bloomberg  -  491 words
    • 360 12 Reuters [KUALA LUMPUR] Sales of new vehicles in Malaysia are poised to hit a record high, with sales rising 16.2 per cent in the first 11 months of this year, a trade body said on Tuesday. The Malaysian Automotive
      Reuters  -  360 words
    • 2115 12 VOL F5BM. 4.74 -041 90 MehSingGrp 1.4* unch 132 PWttnd..., 041 443 263 Data Ml w- em FTKRaMtras .0.45 -041 ion Malakoff. 7 JO unch 669 Ramate* .3.12 -0.14 2 FurqanBus.Org.... 0.35 441 ***** Malayan Banking -11.80 -aiO 3017 Ranh.ll US 045 13 AAMRMky 122 -OOI
      2,115 words
    • 365 12 AP [NEW DELHI] yesterday propoaflK£ wide-ranging partnership with Malaysia to explore and develop oil and gas fields in third countries such as Iran and Russia as part of its aim to build an Asian alliance on energy security. Petroleum Minister Mani Shankar
      AP  -  365 words
    • 324 12 AP [JAKARTA] President Susilo Bambang Yudhoyono's popularity has begun to decline just two months into his term, and his plan to raise fuel prices next year is opposed by almost 80 per cent of the country, a survey said yesterday. The poll
      AP; PHOTO: REUTERS  -  324 words
    • 345 12 M&As the way to go for rapid growth: bank chief Bloomberg [JAKARTA] Indonesia's PT Bank Negara Indonesia, the country's third-largest lender by assets, is aiming to acquire smaller rivals next year, part of the* government's plan to increase the size of the nation's lenders.
      Bloomberg  -  345 words
    • 220 12 [KUALA LUMPUR] Titan Chemicals Corp Bhd is planning a flotation on the Bursa Malaysia mainboard possibly next year and has submitted initial proposals to various regulatory authorities, the New Straits Times said. Proposals for its initial public offering (IPO) have been submitted to the
      220 words

  • GREATER CHINA/INDIA
    • 542 13 China's demand for energy has fuelled cooperation in the the sector [MOSCOW] Gazprom, Russia's state controlled gas monopoly, could team up with the China National Petroleum Corporation (CNPC) to develop, Yuganskneftegas, the Yukos oil company's main production asset, the Financial
      AFP  -  542 words
    • 437 13 Reuters Bloomberg [HONG KONG] The 67-year-old Hong Kong pensioner who blocked the US$3 billion initial public offering by the Link Reit (real estate investment trust) said yesterday she wants to continue her legal fight. Lo Slu Lan, who lives on US$427 a month in
      Reuters; Bloomberg; REUTERS  -  437 words
    • 421 13 Bloomberg [BANGALORE] Shareholders of Infosys Technologies Ltd will be able to convert stock into American depository shares (ADS) at a premium of as much as 45 per cent to Monday's domestic stock price. Shareholders of India's second-largest software exporter approved a
      Bloomberg  -  421 words
    • 432 13 [SHANGHAI] Sony, the Japanese electronics company, has made an important breakthrough in its efforts to combat large-scale piracy of its Play Station games console in China after a long investigation that uncovered parts being assembled in a prison, the Financial Times reported. The
      432 words
    • 309 13 Bloomberg [MUMBAI] India's Mumbai stock exchange, Asia's oldest, will consider selling shares in India and overseas after it's turned into a Hcompany by March 31, chief executive Rajnikant Patel said. The local shares will be listed on the Mumbai stock exchange and American depositary receipts
      Bloomberg; REUTERS  -  309 words
    • 354 13 Reuters [BEUING] China promised on Tuesday to get tougher on copyright and patent violations, a long-awaited move that may ease US concerns over rampant piracy, believed to cost foreign businesses billions of dollars every year. In a new interpretation of the law governing intellectual
      Reuters  -  354 words

  • ASIA-PACIFIC/WORLD
    • 636 14 Patented medicine price caps cost US$27b in revenue for drugmakers Bloomberg [SYDNEYI US pharmaceuti cal companies such as Pfiz er and Merck are losin: US$lB billion to US$27 bi) Bon a year in revenue be cause of price controls ii other nations. A
      Bloomberg; AFP  -  636 words
    • 258 14 Bloomberg [NEW YORK] KPMG LLP. a unit of the world's fourthbiggest accounting firm, can be paid US$l64 million for its work on MCI Inc's bankruptcy case, a judge ruled on Tuesday. US Bankruptcy Judge Arthur Gonzalez approved the payment to KPMG.
      Bloomberg  -  258 words
    • 1012 14  - Will a road show get Japan Inc moving ASIA INSIGHT Foreign investment in government bonds could help free vital funds ANTHONY ROWLEY Tokyo Correspondent THE New Year is. by tradition, the time wlten "the circus comes to town" in many Western countries. London and New York may not be treated
      1,012 words
    • 192 14 Reuters [HONG KONG/SYDNEY] Australia's Telstra Corp yesterday denied a media report that it has approached several mobile operators about selling Hong Kong CSL Ltd. its mobile phone service operator in Hong Kong. "Telstra does not have CSL on the market and
      Reuters  -  192 words
  • Page 14 Advertisements
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      787 words
    • 965 14 IN THE MATTER OF THE COMPANIES ACT, CAT. 50 AND TECHNISTOCK PTE LTD (In Members' Voluntary Winding Up) REG-NO. *****K342C AtanEUinmdlnnrj CatralMtiHlai of tke Coaapaay held at M Raffles Place, #17-M rin»apm Laid Tswer, Singapore *****3 en the 15tk day of I>mnWrj»4, tke Mon*a> Spatial and Ordhsry ReealntlaM wetejdnly piMft
      965 words
    • 20 14 Lianhe Zaobao Acting president of China ■pilei iJiseil /Siraiatiori on lessons from CAO debacle mm*. m+mmmmwmm: it#l jbin oyH n#i
      20 words

  • WORLD
    • 282 15 AFP [WASHINGTON] Contrack International has become the first major US contractor to pull out of the reconstruction effort in Iraq, the Los Angeles Times said yesterday adding that high security costs were to blame. "We reached a point where
      AFP  -  282 words
    • WORLD WATCH
      • 97 15 AFP [FRANKFURT] Deutsche Boerse, currently trying to convince the London Stock Exchange of the virtues of a merger, has offered LSE chief Clara Furse the top job in the merged company, the Financial Times reported yesterday. A merger of the Frankfurt and London stock
        AFP  -  97 words
      • 98 15 Reuters [TOKYO] Japan's Health Ministry yesterday said that at least one person had been infected with the bird flu virus after an outbreak among chickens in February but that there was no chance that this person would infect others. The ministry said four others
        Reuters  -  98 words
      • 104 15 Reuters [FRANKFURT] Chipmaker Infineon wants to get rid of loss-making parts of its business and cut the US$l billion investment it had planned in its US plant in Richmond, Virginia, reports yesterday said. "When we see that a business cannot be profitable we will take
        Reuters  -  104 words
      • 69 15 Reuters [FRANKFURT] German phone carrier Deutsche Telekom plans to cut an additional 10,000 jobs in 2006 and another 10,000 in 2007, mainly at its fixed-line unitT-Com, the Financial Times Deutschland reported yesterday. It said the job cuts were agreed at a supervisory board meeting last
        Reuters  -  69 words
      • 85 15 Reuters [NEW YORK] Nymex crude futures fell more than US$l yesterday morning after the US government reported an unexpected rise in domestic supplies of crude oil and distillate fuels. Nymex February crude was down US$l.76 at US$44 a barrel after bouncing back from an early
        Reuters  -  85 words
      • 68 15 Bloomberg [TOKYO] Mitsubishi Tokyo Financial Group and UFJ Holdings, which are merging to create the world's largest bank next year, opened their first branches that offer complementary services to underline the union is going smoothly. They opened branches in front of Shibuya Station in Tokyo.
        Bloomberg  -  68 words
    • 594 15 It's told to divulge some secrets, offer Windows without Media Player AP Reuters [BRUSSELS] A European Union court yesterday ruled that Microsoft Corp will have to abide immediately by an EU ruling that forces the company to change its commercial practices before the
      AP; Reuters  -  594 words
    • 457 15 Its board succumbs to pressure from regulatory agency NYT [WASHINGTON] Under heavy pressure from regulators, mortgage finance giant Fannie Mae forced out its chairman and chief executive Franklin Raines late on Tuesday, days after the company was found to have violated accounting rules. The
      NYT; REUTERS FILE PHOTO  -  457 words
    • 191 15 Bloomberg [NEW YORK] Tenet Healthcare Corp, the second-larg-est US hospital chain, agreed to set up a US$395 million fund to settle claims that doctors at a California hospital performed unnecessary surgeries. The fund will be established by next Friday and the money distributed among
      Bloomberg  -  191 words
    • 326 15 LAT-WP [LOS ANGELES] So what kind of sports car do you get for US$140,000? One with a 550-horsepower engine, classic styling—and the potential to careen out of control because of a busted part. Ford Motor Co confirmed on Tuesday that it was
      LAT-WP  -  326 words
    • 492 15 NYT [NEW YORK] The Washington Post Co said on Tuesday that it had purchased Slate, an online magazine owned by Microsoft. The sale completes Slate's transformation from an experiment in the new media in 1996 to a respected brand name in journalism. Terms of
      NYT  -  492 words

  • AVIATION
    • 273 16 AFP. Reuters [MONTREAL] Global aviation traffic climbed 14 per cent in 2004 over the previous year, boosted by strong performances by airlines in the Middle East and Asia, a United Nations agency said on Tuesday. The International Civil Aviation Organisation (ICAO) said that
      AFP.; Reuters  -  273 words
    • 1990 16 CITY HJ6HT ETA FU6HT HP IC857 1015 SQ408 1620 MH609 2355 MH608 1725 SQ141 1145 *5142 0935 721 1920 Ml757 2255 MI758 1835 Adataida LH9771 1855 AF8088 2250 ***** 535 SQ146 640 610 212Q 5Q5057 2255 5Q5058 1835 SQ230 1855 BA73K g50 SQ147 2230 SQ148 1900
      1,990 words
    • 626 16 It is targetting 315 jet deliveries this year against Boeing's 285 AFP. AP [PARIS] The European aircraft manufacturer Airbus Industrie, on track to eclipse US rival Boeing in annual deliveries for the second straight year, is closing out 2004 on a flood of Asian
      AFP.; AP; REUTERS  -  626 words
    • 263 16 Bloomberg [TOKYO] Japan Airlines Corp, Asia's largest air carrier by sales, said it may use Boeing Co's proposed 7E7 aircraft to replace midsize planes in its fleet, in a plan that could help the US plane maker edge out larger rival Airbus SAS.
      Bloomberg  -  263 words
    • 226 16 Bloomberg [FRANKFURT] Deutsche Lufthansa, Europe's third largest airline, is hiring as many as 20 pilots a month and will add 500 flight attendants in 2005 as the airline expands to meet air travel growth. "All of our long-distance flights are full to the
      Bloomberg  -  226 words
    • LOG BOOK
      • 113 16 AP [FRANKFURT] A Malaysia Airlines plane was damaged when it crashed into a passenger gangway at an airport on Borneo island, a news report said. No one was injured. The Boeing 737 carrying 52 passengers and five crew members failed to stop at a designated
        AP  -  113 words
      • 108 16 Xinhua [ABU DHABI] A South African construction firm announced they won a US$l billion contract as part of the US$4.l billion Dubai International Airport expansion project, local daily Khaleej Times reported. Murray Roberts (M&R) and its joint venture partner Japanese construction firm Takenaka will
        Xinhua  -  108 words
      • 112 16 AFP [BANGALORE] India's southern Karnataka state gave the green light for a consortium led by Germany's Siemens to build the country's first private airport in the high tech hub of Bangalore. Work on the US$274 million project had begun in 2003 but hit
        AFP  -  112 words
      • 80 16 AFP [FRANKFURT] Lufthansa Cargo, the freight unit of German airline Lufthansa, said on Monday that it would lower the fuel tax surcharge on its cargo services with effect from Jan 3. The surcharge would be cut to 0.30 euros per kilogram of freight forwarded
        AFP  -  80 words
    • 449 16 Move aims to offset spate of impending retirements AP [WASHINGTON] The Federal Aviation Administration (FAA) has announced a plan to hire 12,500 air traffic controllers and let some existing workers stay on the job longer than their mandatory retirement age to offset a tidal
      AP  -  449 words

  • SHIPPING
    • 456 17  -  The contracts with Taiwan's Wan Hai Lines may also include shiprepair By DONALD URQUHART [SINGAPORE] SembCorp Marine subsidiary Jurong Shipyard has won two container shipbuilding contracts worth $143 million from Taiwanese container shipping company Wan Hai Lines with the two eying a
      456 words
    • 280 17 Bloomberg f jt»» iCivTw i .v. "t" "'s» ,-v; [SINGAPORE] PSA International Pte, operator of the world's second-biggest *port, has not been told whether its bid for Hong Kong terminal operator Asia Container Terminals Ltd is being overridden by existing shareholders,
      Bloomberg  -  280 words
    • PORT SHOTS
      • 70 17 Bloomberg [SEOUL] Daewoo Shipbuilding Marine Engineering Co, the world's second-largest shipbuilder, said yesterday that its November net income rose 18 per cent to 26.2 billion won (5540.7 million) compared with 22.2 billion won last year. Daewoo Shipbuilding made an operating loss of 40 billion
        Bloomberg  -  70 words
      • 61 17 Bloomberg [SEOUL] Samsung Heavy Industries Co, the world's third-largest shipbuilder, said it won orders for two LNG ships and four container ships from AP Moller-Maersk A/S. The orders are worth 984 billion won and the ships will be built between by April 2009,
        Bloomberg  -  61 words
      • 73 17 Bloomberg [SEOUL] Daewoo International Corp has won a US$l5O million contract from the Indonesian navy to build landing platform dock ships, the company said in an e-mailed statement yesterday. Daewoo International will build three standard ships with landing platform docks and one commanding ship
        Bloomberg  -  73 words
      • 84 17 Bloomberg (TOKYO] Sumitomo Corp, Japan's fourth-biggest trading company, said yesterday that it will invest as much as US$25 million in a Russian company that leases rail cars for the transportation of Russia's natural resources. Sumitomo may complete the investment in Brunswick Rail Leasing in
        Bloomberg  -  84 words
    • 578 17 AP Bulge raging in western Europe durinfcWortd War IL workers a*t£runswick shipyasdwere determine# to deliver one more ship by the year's > end. £■H To get the Job done, labourers were needed 1,500 their afternoon editions on Dec 25, and 60jws i later,
      AP  -  578 words
    • 479 17 Fears revived of widespread rule breaches in Korea Reuters [SEOUL] Regulators fined South Korean shipping Arm Hyundai Merchant Marine 2 billion won (Ss3.l million) yesterday for accounting irregularities, concluding a case that has fuelled concern about the nation's corporate governance record. But
      Reuters  -  479 words
    • 312 17 Bloomberg [DOHA] Qatar will allow foreigners to own shares in the world's largest shipper of liquefied natural gas, following an initial public offering (IPO) to local investors, the country's oil minister said. Qatar Gas Transport Co, a newly formed business owned by state companies,
      Bloomberg  -  312 words
    • 290 17 SGX '000 Dec 22 S$ W- Vol CH Offshore 0.3* undi 1994 Chuan Hup .0.65 0.01 403 Cosco Corporation 1.15 0.02 4986 CWT Distribution 0.59 0.02 35 EzraHldgi 1.14 -0.01 102 Links .0.09 unch 230 Grand Banks Yacht 1.00 0.02 283 Jaya Holdings 1.01 -0.01 397 K1 Venture
      290 words

  • EDITORIAL & OPINION
    • 502 18 EDITORIAL IT seems that some of President George W. Bush's foreign policy aides have interpreted his recent narrow election win as public approval for a unilateral and aggressive foreign policy under which Washington would have the right, if not the obligation, to achieve regime changes
      502 words
    • 892 18  -  Some foreign firms, lured by high growth and a huge market, ignore poor business practices By SETH KAPLAN CHINA is urgently trying to whip its woeful banking system into fighting trim before it begins competing with far more disciplined foreign banks in just over two
      AFP  -  892 words
    • 104 18 'I hear people in our factory saying we may lose jobs. I don't really know why. But my family will starve to death if I don't work.' Fatema Begum, a 20-year-old Bangladesh divorcee, who supports her daughter and parents with her US$33 monthly wage sewing at a
      104 words
    • 762 18  -  THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group US President George Bush called an "economic summit" last week, but of course the economy will do its own thing without necessarily heeding what Mr Bush wants. To those wondering how it will actually behave
      The Washington Post Writers Group  -  762 words
    • 835 19  -  Large US banks playing on their home turf do much better than their European counterparts By MATTHEW LYNN Bloomberg THE results coming from the world's investment banks have been mixed: some good, some bad. That reflects a year in which equity markets slowed, mergers made
      Bloomberg; BLOOMBERG  -  835 words
    • 247 19  -  LETTERS TO THE EDITOR Chua Soon Hock Asia Genesis Asset Management Singapore SGX and MAS should not overreact to die CAO incident by introducing new regulatory measures. Hard as it may be for many investors, more such cases involving Chinese companies and, later,
      247 words
    • 206 19  -  Winston Chin Singapore I REFER to the letter. "OCBC's monthly charge covers cost of services" (BT, Dec 21), by Mr Ng Kwok Leong of OCBC Bank. While Mr Ng asserted that the monthly custody fee covers a wide range of support services like collection of
      206 words
    • 1330 19 STRAITS TIMES INDEX STOCKS trndiwmm m Qaaa On siwtM- m o— a—§ AAgraan 50c 0-29 1.070 -0.030 NOL 107 2-940 -0-040 M. Mi U520c 0.45 0.975 -0.005 OCBC 1002 13.600 *0-200 CapttaUnd 133 2.020 Mtaw»H& 0Q> 1.500 -0010 Chart SamiCond 26c 0.71 0.945 Paopta-J Food MKSOc 0.41 1J90 *0.060 CityOcv
      1,330 words

  • Page 19 Advertisements
    • 46 19 use fefnperate and bear in wrind We r«s«cve the right!to««laad amnd the •'g4 a ,r t m-m. 1Alir IT** r r «A» n tl It. U AaII kft fk^f text ot jour tetterswtore publication. By your suonnssion of tne letter id fne Business«tints, piratf oe oeeroea
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  • Page 19 Miscellaneous
    • 133 19 CRYPTIC CROSSWORD t 30 One regarding the nineties as a thing of the past (11) n 13 Plug Keaton film (11) YESTERDAY'S SOLUTION 2 ope,* song 3 One seen outside hospital 16 d^ncemi^(s? P pr V deS 13 16 Orier may need treatment (4) 20 at dawn (7) of Merit
      133 words

  • 8296 20 SGX MAINBOARD Transaction date: Dec 22 i —> SH* Tel LaM VU Day UMQwM GrOK DO* flrVM Nat MCaa 524* Tel Laat JM On LaatQaeta GrO* 0* CrTM Hat 44Cap HWi I— Ca4a Ca—aay Sata rm 04* 1— 0— SaOar Cw m $3 l— Cade C»«awr Mi fW0
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  • Page 20 Advertisements
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  • 4736 21 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES taloalaw HUH %*f %r %r **r o*» iwgg a—* own— Qwm omhii SftBSB BBBE —m* .pa. is M w m *J*n** W£± Z™± ft? M '04 I IT" oj n AS M.4 45 iy Mt Wffi 04 0.1 M _00 _J11 Tff M
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  • Page 22 Advertisements
    • 971 22 y STwaww orwoo HTJi i/ii ot I "--J" _M_ _SSL_ MO NBUOYO NOUTMAM 27WSO 15/12 02/01 04/0. I ,5/ 17/ 11/11 MonuorauK oowsi 24/12 00/01 om I wi» «/n wn m nommumuam mi own 27/12 20/12 21/12 01/01 o»/oi n/11 ,i.f.1.l lip whlS »sw«« STTi 5/ii io/ii sStT" mS?- I
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  • Page 23 Advertisements
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  • Page 24 Advertisements
    • 456 24 I lflMf WALLENIUS WILHELMSEN wobsito: http://www.2wilobol.com VMM AfMI 4mm 4.4 M I 01/01 I 20/01 04/02 11/02 12/02 14/02 14/02 11/02 00/02 IMAGO AFSO2 3201 m MM I 11/01 I 10/02 19/02 20/02 27/02 04/0) 02/03 00/03 21/02 IDAS AISO3 420kat MB oi/02 1 27/02 00/03 11/03 14/03 20/03 10/03
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    • 503 24 BSA x MYANMA n FIVE STAR LINE (My—war Nottad Um) lwfc| for YoafM VESSEL VOT SM PKI PEN PGU PAGAN 331W SU) SU) HPA-AN 330W SU M MALAYSIA; lOUSTEAD SHIPPING AGENCIES KIN./PKL- 03-*****3U PEN: 04-2****** ACCEPTIM COiVEBTtOIAI CBO MG NK SM PGU PU KUC OOAMAQHO 127 SU SU SU SU
      503 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 4846 25 isa.tr'tt as asr a s» tr a a ar sa.'g a as tssr a r g 'to AOIDJAN (AOJ) 2003 QrtaD'lvotra S,2 (K^l™ 1 iL otoa a*E2" KUA1A OELAfT(KUO)2532 Orunai »M 1110 cmacgm westermoor oise annuo 12m omu HambuqSud hansa constitution aoew oisom SOfll
      4,846 words

  • BizIT
    • 768 26  -  Outdated methods of online attacks have been replaced with more effective methods that can ensure greater reach, effectiveness and profits, reports RAJU CHELLAM RAJU CHELLAM GUARD your cor porate dati more carefull] against online threats, whict are set to in erease and ma]
      Source:  -  768 words
    • 343 26 It combines mail, instant messaging to win market share Bloomberg [BEUING] Yahoo Inc, which operates the world's second most-used Web search engine, will offer China's 27 million broadband fUbscribers the company's first service to combine mail and instant messaging as it tries
      Bloomberg  -  343 words
    • 160 26 Reuters [SEATTLE] Google Inc said it has fixed a software flaw that could allow hackers to view information contained on PCs running Google's desktop search software. "We were made aware of this vulnerability and have since fixed the problem so that all current and future users are
      Reuters  -  160 words
    • 281 26 Bloomberg [NEW DELHI] India's desktop computer sales this financial year may rise almost a third from a year ago as prices decliile and economic growth boosts demand. Sales may reach four million units in the year ending March 31 from 3.4 million
      Bloomberg; AFP  -  281 words
    • 650 26  -  <you say> An effective game plan, proactive security strategy and staff education can help cut downtime ANG MIAH BOON COMPANIES across the Asia-Pa-cific are set to spend 4-8 per cent of their IT budgets on security solutions in the next 2-3 years,
      650 words
    • 196 26 Reuters [SEOUL] LG Philips Ltd, the; world's No 2 flat-screea maker, said prices of LCDs were likely to fall faster than expected. LG which competes with big? ger rival Samsung Electronics, is a joint venture be* tween LG Electronics and Philips Electronics. Flat panel
      Reuters  -  196 words
  • Page 26 Advertisements

  • PROPERTY
    • 321 27  -  Andhra Pradesh project has 3 buildings, enjoys 95% occupancy By VINCE CHONG ASCENDAS has bought over the Vanenburg IT Park in Andhra Pradesh from Dutch technology group Vanenburg, marking its second project in the Indian city after multi-storey information technology complex Cyber Pearl
      FILE PHOTO  -  321 words
    • 339 27 Reuters [SHANGHAI] China has picked China Construction Bank, the country's top property lender, and a policy bank to pioneer the securitisation of housing loans, the official Shanghai Securities News said yesterday. China Construction Bank (CCB), which shared a US$45 billion government
      Reuters; AFP  -  339 words
    • 338 27 (KUALA LUMPURI Investors could buy shares in a couple of Malaysian real estate investment trusts' (Reits) initial public offerings next year, the New Straits Times said. According to AmMerchant Bank Bhd head of corporate finance Pushpa Rajadurai, the bank is working on
      338 words
    • 154 27 Reuters [LONDON] British real-estate brokerage Savills pic said yesterday its full-year profit would beat market expectations by about 10 per cent, and that it was to pay a 20 pence special dividend. "Commercial markets continue to be very active, particularly on the back
      Reuters  -  154 words
    • 917 28  -  But yield trend in investment market remains uncertain as interest rates are poised to rise, reports VINCE CHONG VINCE CHONG THE new year will see real estate investment trusts (Reits) continue to dominate the investment market, although it is anyone's guess where yields are headed as
      FILE PHOTO  -  917 words
    • 849 28 Brought to you by HSBC M PROJECT NAME/ PROP CONTRACT TENURE BUIIHNAAND PRICE PSF STREET NAME TYPE DATE AREA*(SQFT) (SS'OOO) (SS) District 01 NON-LANDED Emerald Gdn Apt 27/10/2004 999 1216 900 740 District 03 NON-LANDED Landmark Twr Apt 20/10/2004 99 1033
      849 words
  • Page 27 Advertisements
    • 8 27 ■^RN|H|Hm s;"':*: B Mjlil I'K The Business times
      8 words
    • 121 27 Fair View Court For Sale By Tender W\ Freehold —•""N. Approximately 32,000 sq ft Plot Ratio 1A up to 5 storeys 1 V -$> Exclusive location along H Upper East Coast Road A {$0— |f O yyr- FairVtow Near amenities and good schools \Wr 100% consensus from owners W s
      121 words

  • Page 28 Advertisements
    • 132 28 Got the right home? Now get the right home loan. lilts 4 a.- TW»r i-^a frWr:i. inn IBi Buying a house in Singapore is a heavy investment. However, you can still have the freedom to live life the way you want. with HSBC home loans. Enjoy these benefits when you
      132 words