The Business Times, 13 January 2005

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Total Pages: 28
1 28 The Business Times
  • 15 1 THE BUSINESS TIMES Thursday, January 13,2005 SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 023/03/2004
    15 words
  • 714 1  -  By KENNETH LIM [SINGAPORE] For four precious minutes yesterday, computer errors made the covered warrants of Total Access Communication (TAC) available at 22 cents a stunning $1.02 discount to their previous closing price that sparked off frenzied trading before regulators stepped in at noon.
    Source: Bloomberg  -  714 words
  • 1017 1  -  An 'underperforming region' the cause: sources By WONG WEI KONG [SINGAPORE] High profile Global Active Ltd (GAL) which counts Ron Sim's flagship Osim International as a substantial investor yesterday became the latest listed group to join the growing list of companies issuing profit warnings. After
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  • 139 1 STI 2,079.80 (-12.41) ST INDEX FUTURES 2,078.00 (-8.00) SIMSCI 247.99 (-1.15) SIMSCI FUTURES 248.20 (-1.30) MARKETS Wednesday Change KLSE COMP 933.33 +2.70 NIKKEI 225 11,453.39 86.60 HANG SENG 13,565.31 +56.06 SET INDEX 694.63 +2.66 JAKARTA COMP 1,008.58 -3.10 MANILA COMP 1,820.57 -25.26 SEOUL COMP 880.03 -4.26 SHENZHEN B
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  • TOP STORIES
    • 599 2  -  He said it will provide the needed resources to tackle all other challenges By CHUANG PECK MING [SINGAPORE] A strong economy remains Singapore's answer to all other challenges. "We must strengthen our economy," President S R Nathan said last night, in setting the
      ZAOBAO  -  599 words
    • 643 2 Kim Eng, Phillip Capital also up for grabs? THE local broking industry has been brought into sharp focus once again amid expectations that top Malaysian investment bank CIMB will soon take a major stake in listed Singapore broker GK Goh Holdings. The move shows that even the larger
      643 words
    • 207 2 OUR report. "Jail for HK companies which report wrong info" (BT, Jan 11), stated incorrectly that wrongdoings related to financial reporting and other periodic disclosures, disclosures of price-sensitive information and related transactions were only subject to a reprimand under Singapore law. False or misleading statements that are likely to
      207 words
    • 432 4  -  Yuanta raising its Kim Eng stake; Phillip open to mergers By WONG WEI KONG [SINGAPORE] The local broking in- dustry has been brought into sharp focus once again amid expectations that Malaysia's top investment bank CIMB will soon take a major stake
      432 words
    • 582 4 Reutets [BBUING] China yesterday proposed one-off, non-stop charter flights between Chinese and Taiwan cities during the Chinese New Year holidays in February in a -move seen aimed at easing cross-strait tensions. Landmark direct charter flights between the Chinese cities of Bering, Shanghai, Guangzhou
      Reutets; REUTERS  -  582 words
    • 437 4  -  It pleads not guilty to charges of not notifying stake changes By MICHELLE QUAH [SINGAPORE] OCBC Bank (Malaysia) Bhd pleaded not guilty in a Malaysian court yesterday to 13 counts of foiling to comply with the country's Companies Act One of the charges
      437 words
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  • COMPANY NEWS
    • 724 5  -  HOCK LOCK SIEW By TEH HOOI LING FOR someone who has been following Global Active closely, perhaps it is not surprising that the retailer of nutraceutical products is issuing a profit warning. After all, the group is just embarking on
      724 words
    • 685 5  -  By RAJU CHELLAM CREATIVE Technology is stepping up its manufacturing operations in China and Malaysia as a surge in demand for its line of MP3 players has caused a shortage. "This is our largest ramp-up in our history," chairman Sim Wong Hoo told
      FILE PHOTO  -  685 words
    • 561 5  -  By KAREN HO A FORMER executive director of electronic-component distributor Startech Electronics and a car mechanic were yesterday convicted for a scam to cheat Malayan Banking Berhad of over $28 million. Lee Chew Seng, 41, together with mechanic Wong Siow Hiong, 39. pleaded
      561 words
    • 375 5  -  By ALEXANDRA HO THE Securities Association of Singapore has come out in defence of its stock broking members' practice of slapping trading curbs on speculative stocks. In a written reply to BT's Hock Lock Siew column last week suggesting that brokers should be made to
      375 words
    • 409 5 By JOYCE KOH THE results were dismal but the message was inspirational. Despite gulping down a big fall in its FY2004 earnings, Qian Hu's chief executive Kenny Yap remained positive as he contemplated life and his business' future during yesterday's results briefing. As expected,
      409 words
    • 365 5  -  By VEN SREENIVASAN SILKAIR flew a record 110,000 passengers in December 2004, thanks to more holiday-makers flying to regional destinations. The December 2004 figure was 15.3 per cent higher than that of December 2003 and 4.5 per cent up from November 2004. It was
      365 words
    • 440 7  -  MALAYSIA-SINGAPORE STOCKBROKING Move preceded lowering of entry barriers to local securities industry By JEAN CHUA THE expected merger of GK Goh Holdings and Malaysia's CIMB is the first major stockbroking deal in Singapore in four years. The last major consolidation of the brokerage industry
      440 words
    • 768 7  -  By PAULINE NG in Kuala Lumpur BANKING analysts view a proposal by Malaysia's leading merchant bank CIMB to acquire a controlling interest in GK Goh Holdings as a positive and proactive move ahead of the launch of a cross-trad-ing platform between the Singapore
      768 words
    • COMPANY BRIEFS
      • 47 7 ARA Asset Management (Singapore) Limited said it has received 501,966 units in Fortune Reit issued at a price of HK56.3028 each as payment of the base fee component of its management fee for Oct 1 to Dec 31,2004.
        47 words
      • 61 7 SINGAPORE-LISTED GuocoLand yesterday announced two divestments to its major shareholder Guoco Group Ltd for RM53.3 million (5522.9 million). GuocoLand is selling a 7.13 per cent interest in Camerlin Group Bhd and a 21.49 per cent interest in Camerlin 5.5 per cent irredeemable convertible unsecured loan stocks 2002/2007
        61 words
      • 105 7 DBS Bank is issuing 10 million European-style covered call warrants and 10 million put warrants on Venture Corp. Settlement for both sets of warrants will be in cash. The issue price of each call warrant is 23.5 cents, with every five warrants initially
        105 words
      • 63 7 DATACRAFT Asia said yesterday there are reasonable grounds to believe that FY2005 will remain profitable. The group has been reporting profits at the operating level, excluding goodwill amortisation and exceptional items, for each quarter since Q3 FY2004, it said. There is no more goodwill
        63 words
      • 68 7 PDC Corp said yesterday that May bank and OCBC have agreed to extend the payment deadline of the first instalment under a settlement arrangement reached earlier to the end of this month from the earlier deadline of Jan 3,2005. All other terms of the
        68 words

  • SINGAPORE MARKETS
    • 493 6  -  STOCKS Straits Times Index down 12.4 points mainly because of losses in the Jardine stable R SIVANITHY Senior Correspondent "buys" issued by Deutsche Bank and BNP Paribas Peregrine enough to account for a 23 per cent surge in Citiraya's shares in two days? Why
      Source: Bloomberg  -  493 words
    • Article, Illustration
      965 6  -  Compiled by JOYCE KOH Sunningdale Precision D«c 12 close: 88.5 cents (-1-2 cents) Kim Eng Research. Dec 12 REITERATE BUY on Sunningdale Precision on its merger plans with Tech Group Asia. The deal, which is expected to complete by June 2005, would see Tech Group issuing 1,132 shares
      Source: Bloomberg  -  965 words
    • 533 6  -  LARRYWEE Senior Correspondent OVERNIGHT comments from European Central Bank chief economist Otmar Issing sparked strong gains for the Japanese yen and many other Asian units yesterday, at the expense of both the US dollar as well as other major cur- rencies like the
      Source: Reuters  -  533 words
    • TRADES TO WATCH
      • 166 6 IPCO International substantial shareholder ChngGim Huat raised his stake to 5.68 per cent from 5.65 per cent through the purchase of 280,000 shares on Monday. The shares were bought on the open market, but no pricing information was disclosed. Mr Chng had earlier bought 350,000
        166 words
      • 147 6 JP MORGAN Chase Co saw its stake in Magnecomp International pared to 8.74 per cent from 9.01 percent through a number of open market transactions from last year to this week. In total, 366,000 Magnecomp shares were bought on Oct 26 last year, while another
        147 words
      • 179 6  -  Compiled by KENNETH LIM TWO of Inter-Roller Engineering's top directors saw their stakes increase on Tuesday through acquisitions worth a combined total of more than $100,000. Chairman and executive director Lim Yong Wah bought 50,000 shares on the open market at 75 cents apiece, or
        179 words
    • Article, Illustration
      429 6 OTHER SINGAPORE INDICES Jan 12 VALUE CLOSE BT OB/OS 395.00 -93.00 BTCADI -*****.00 -59.00 BT 10-day MA -*****.00 +40.00 All-SG Equities 537.83 -2.16 SG Equities Elect 161.38 +1.38 SG Equities Fin 1636.95 -8.83 SG Equities Prop 522.26 -2.01 SIMSCI 247 i" -1-15 SiMSCI Futures 248.20 -1.30 MOST ACTIVE STOCKS VOLUME
      429 words

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    • 596 7 Extend your global reach La F x-\^ i>-A .«Aj| *-2* -< I A I Jm Et «lv MtwGm I Hk*. 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
      596 words

  • MID CAPS
    • 843 8  -  With major contracts in the pipeline and plans to expand capacity, it looks set for a strong year ahead, says ANGELA TAN ANGELA TAN AT the start of this year, electronic waste recycler Citiraya Industries suffered a rude shock when its share price fell on unfounded
      FILE PHOTO  -  843 words
    • 5122 8 UNIT TRUSTS FUNDS Shenton Thrift!" 1.13/ Shenton Income 1515/ •an a™,„ iu Shenton IncomKUSD) 0924/ U C 1 n Shenton Asia Pacific'" 0872/ S*f u, £?EKl 1"/ Shenton Gib Opportunities/"" 0681/ !< ar u, °J*®°! 1d 2 ,V. Shenton Dynamic Bona/" 141/ grtawM Jf Shenton Greater China 1.189/ SiSS* i£!
      5,122 words
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  • SINGAPORE NEWS
    • 503 9  -  Possible, if either YTL or Tanjong buys Shell's US$5b InterGen business Reports by RONNIE LIM SINGAPORE'S latest power station could be completely Malaysian-owned if either of two Malaysian bidders, YTL Corp and Tanjong Pic reportedly among five groups shortlisted succeeds in buying Shell's US$5
      FILE PHOTO  -  503 words
    • 490 9 TEMASEK Holdings is conducting a review of Singapore's electricity market which could influence when the investment company would relaunch the longdelayed sale of the three big power companies here, sources said. Postponed since 1999, the divestment of the power companies was supposed to have resumed
      FILE PHOTO  -  490 words
    • 245 9  -  By CAROLYN QUEK A 27-STRONG high-level Chinese delegation was in town yesterday as part of a drive to attract more Singapore investors to north-east China. To date, Singapore companies such as SembCorp, YCH Logistics and Jurong Tech have invested close to US$l billion
      245 words
    • 679 9  -  It reflects lack of 99-year plots, group's depleting landbank By KALPANA RASHIWALA QUEK Leng Chan's GuocoLand is poised to make its first major acquisition of 99-year leasehold land since the last residential property peak 1996/1997. It submitted a higher-than-expected top bid for
      679 words
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    • 205 9 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 ANO IN THE MATTER Of SIN HIN LEE ENTERPRISES PRIVATE UMfTED (INCORPORATED IN SINGAPORE) (IN MEMBERS' VOLUNTARY WINDING UP) NOTICE Of fINAL MEETING NOTICE IS HEREBY GIVEN, pursuant to Section 308 of the Companies Act, Cap. 50, that the Final Meeting
      205 words
    • 22 9 ■SB Recruit the one you want for any position you have Call 1800 289 8822 or email recruit@sph.com.sg for your recruitment solutions
      22 words

  • FOCUS: SERVICES
    • 1263 10  -  EXECUTIVE SEARCH Headhunter Li Hsiao Yuan tells ANNA TEO how young PRC return grads will soon replace Asian expats in China ANNA TEO SINGAPOREANS who still baulk at taking up posting in China may well find the opportunities drying up before too long. A flood
      AFP  -  1,263 words
  • Page 10 Advertisements
    • 1528 10 SEMBAWANG MUSIC HOLDINGS LIMITED (Incorporated In tw Republic of Singapore an 31 March 2004) (Registration Number *****3817G) NOTICE OF THE FIRST ANNUAL GENERAL MEETING NOTICE 18 HEREBY GIVEN that tfie First Annual General Meeting of the Company will be haw at Swissotel Merchant Court Singapore, 20 Merchant Road, Singapore *****1
      1,528 words

  • ECONOMY WATCH
    • 492 11 It risks backlash from Congress, says US commerce secretary Bloomberg [WASHINGTON] China risks inciting a backlash from US lawmakers and businesses because of policies subsidising state-run companies, curbing imports and pegging its currency to the dollar, US Commerce Secretary Donald Evans said on Tuesday. "When
      Bloomberg; AP  -  492 words
    • 432 11 INTEREST RATES Reuters [FRANKFURT] If the European Centra] Bank believes ultra-low interest rates are no longer appropriate, it may find reasons to increase them sooner than the market thinks. Sputtering euro zone growth and an expected easing of inflation later in the year
      Reuters  -  432 words
    • 303 11 MALAYSIA Malaysia's inflation expected to nudge higher in 2005 Reuters [KUALA LUMPUR] Expectations have eased for a Malaysian interest rate hike in the second half of 2005, as sluggish investment growth and lower oil prices have allayed fears of inflationary pressure, a Reuters
      Reuters  -  303 words
    • 345 11 SOUTH KOREA Bloomberg (SEOUL] South Korea's central bank will probably leave interest rates unchanged when policymakers meet today, allowing more time to assess the impact of cuts announced in the second half of last year, analysts said. The Bank of Korea will likely
      Bloomberg  -  345 words
    • 367 11 LATEST US DATA Reuters Bloomberg AP [WASHINGTON] The US trade deficit widened unexpectedly in November to a record US$6O.3 billion, propelled by the highest-ev-er oil import bill and a drop in exports, a government report showed yesterday. The trade gap topped US$6O
      Reuters; Bloomberg; AP  -  367 words
    • 274 11 BRITAIN Reuters [LONDON] Bank of England policymakers seem nearly certain to leave borrowing costs steady today, but economists are divided on whether rates will climb one more time later this year. All but one of 43 economists in a recent Reuters poll predicted the
      Reuters  -  274 words

  • MALAYSIA/INDONESIA
    • 598 12  -  Some are even considering moving their operations out of the country By S JAYASANKARAN in Kuala Lumpur MALAYSIA'S new auto policy announced on Jan 1 threatens to make local au-to-assemblers those who make cars using imported or locally made completely knocked down (CKD)
      598 words
    • 339 12 Reuters [KUALA LUMPUR] Malaysia's top investment bank, CIMB, hopes to cash in on the bull market by selling 13 million securities that give investors the right to buy a basket of four companies at a pre-set price, fund managers said yesterday. The
      Reuters  -  339 words
    • 450 12  -  By DANIEL BUENAS [SINGAPORE] An infrastructure summit in Indonesia next week promises to yield U5533.5 billion worth of projects and contracts, and International Enterprise (IE) Singapore will be leading a business mission to the country with an eye to winning a slice of Indonesia's
      REUTERS  -  450 words
    • 182 12 Reuters [KUALA LUMPUR] Shares of Malaysia International Shipping Corp Bhd (MISC) hit a record high yesterday, driven by their cheap valuations and expectations of firmer freight rates. The stock rose over 2.6 per cent to RM15.70 while the broader market gained
      Reuters  -  182 words
    • 228 12 Bloomberg [JAKARTA] PT Bank Mandiri, Indonesia's largest lender by assets, increased the size of a planned bond sale by more than threefold to as much as US$5OO million as it seeks to expand business in an economy forecast by the government
      Bloomberg  -  228 words
    • 2438 12 VOl FSBM 083 -0.01 82 J—» H W- rn) FTtC Resources 0.49 -0.01 8468 FurqanBus Org .0.39 0.03 ***** ASM Realty 1.37 unch 51 Gadana 1.45 -0.01 328 Abric .0.58 -0.01 276 Gamuda 5.35 0.05 1770 ACP Industries—...........—1.21 unch 14 General Corp .0.51 unch 176 Advance
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  • Page 12 Advertisements
    • 685 12 advertise call toll-free 1800 289 8822 laaQ: aoticesospli.coa.sf NOTICE TO TRADE INDONESIA PORTS SURCHARGE SEMARANG The following feeder operators wish to inform the trade that the Indonesia Ports Surcharge (IPS) for Semarang (applicable on all SOC shipments, laden/empty containers loaded or discharged at Semarang) will be increased to the following
      685 words
    • 344 12 IN THE MATTER Of THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF WILLIAM KOH CO (PTE) LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) Company Reg. No: *****0048R Al an Extraordinary General Meeting of the members of the above-named Company duly convened and held at 52 Telok Blangah Rood, #04-05 Telok
      344 words

  • TSUNAMI AFTERMATH
    • 478 13 It says they should stay no longer than three months as they are not needed AFP. Bloomberg [BANDA ACEH. Indonesia] Indonesia yesterday told foreign troops helping tsunami victims to get out of the country soon and defended tough new restrictions en aid
      AFP.; Bloomberg; AP  -  478 words
    • IN BRIEF
      • 137 13 AFP [JAKARTA] The death toll from last month's earthquake and tsunamis that devastated Indian Ocean coastlines rose to 158.860 yesterday as Indonesia added another 1,261 to its list of fatalities. Indonesia, hardest-hit by the Dec 26 disaster, has now reported 106,523 deaths, with 12,047 people missing,
        AFP  -  137 words
      • 82 13 Bloomberg [BANGKOK] Thailand, which had the highest number of foreign tourists killed in the Dec 26 tsunami, said more than two-thirds of the dead still cannot be identified. Of the 3.685 bodies not identified, 1,030 are non-Thais, Interior Minister Bhokin Bhalakula said in a statement. Prime Minister
        Bloomberg  -  82 words
      • 113 13 [KUALA LUMPUR] Former prime minister Mahathir Mohamad will be back in the driver's seat this week. He will chauffeur nine people in a Porsche car on Malaysia's Grand Prix racing circuit on Sunday to help raise funds for victims of the Asian tsunami, local media reported
        113 words
      • 106 13 AFP [GENEVA] Japan has announced it will pay US$25O million within days for the tsunami aid effort, making it the biggest contributor at Tuesday's conference on aid for devastated countries, a UN official said. "The biggest by far is Japan which is contributing within the next few
        AFP  -  106 words
    • 420 13 Reuters. AFP [BRUSSELS] The European Union wants to help the worst-hit tsunami states by lowering tariff barriers for their exports to Europe, its trade chief said on Tuesday. The 25-nation bloc has already pledged 1.5 billion euros (553.2 billion) to
      Reuters.; AFP  -  420 words
    • 429 13 Japan to use Kobe conference to start ball rolling AFP [TOKYO] In the wake of Asia's tsunami calamity, Japan plans to use a world anti-disaster conference next week to take the first concrete steps towards creating a system to warn of giant waves in
      AFP  -  429 words
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    • 443 13 SIEMENS Global network of innovation DIRECTOR Customer Services Division Raf: SPL/L&A CS/DlO5 You will lead the Customer Services Division of Logistics Assembly Systems with full technical responsibility for customer service activities for Airport Logistics (AL), Distribution Industry (Dl) and Postal Automation (PA) Divisions in South-East Asia Region. Other major responsibilities
      443 words

  • GREATER CHINA/INDIA
    • 431 14  -  Tung promises to help the needy and poor, as well as promote stability By JEAN CHUA AS Hong Kong takes firmer steps towards economic recovery, its government is now turning its attention to ensuring that there is no repeat of last year's high-pro-file disasters
      431 words
    • 329 14 He pledges to listen closely to the people and tackle poverty Reuters, Bloomberg [HONG KONG] Hong Kong Chief Executive Tung Chee-hwa, admitting to "shortcomings and inadequacies" in his leadership, pledged yesterday to listen more closely to the people and seriously address the city's
      Reuters,; Bloomberg  -  329 words
    • 249 14 AP [HONG KONG] Hong Kong's government plans to propose a new sales tax in the next few months as a way to raise revenues to help plug the territory's budget deficit, a newspaper reported yesterday. Financial Secretary Henry Tang
      AP; REUTERS  -  249 words
    • IN BRIEF
      • 88 14 Reuters [KUALA LUMPURJ Malaysia's state investment arm Khazanah Nasional Bhd has been granted a waiver from making a buyout offer for the remaining shares it does not own in carmaker Proton, sources close to the deal said yesterday. Without a waiver from the Securities Commission, Khazanah
        Reuters  -  88 words
      • 61 14 Bloomberg [JAKARTA] PT Perusahaan Gas Negara, Indonesia's state-owned gas distributor, is seeking overseas investors to help build a US$3OO million pipeline linking gas fields in southern Sumatra to North Sumatra province. The Jakarta-based company plans to invite bids for prospective partners in the first
        Bloomberg  -  61 words
      • 80 14 Reuters r\s>lci S I ItbUCM man, Li Ka-shing, has made an offer to buy troubled French perfume retailer Marionnaud, French newspaper Les Echos reported yesterday, quoting several sources. Mr Li, the chairman of ports-to-telecoms conglomerate Hutchison Whampoa, could pay 21.8 euros a share, a premium
        Reuters  -  80 words
      • 69 14 Bloomberg [KUALA LUMPUR] DigiCom Bhd, which runs the smallest of Malaysia's three mobile-phone networks, said Vincent Tan Chee Yioun resigned as chairman yesterday after almost six years in the post. Deputy chairman Arve Johansen, 55, will replace Mr Tan as chairman, DigiCom said in
        Bloomberg  -  69 words
      • 59 14 AFP [BEIJING] An official audit of 181 Chinese state-owned enterprises (SOEs) has found that 120 submitted incomplete financial information, while 13 falsified records outright, state press reported yesterday. "The key trouble makers are financial intermediaries," Xinhua news quoted Meng Jianmin, an official with the
        AFP  -  59 words
    • 494 14 Growth spurred by strong demand for outsourcing Reuters [BANGALORE] Indian software bellwether Infosys Technologies Ltd reported a better-than-expected 52 per cent jump in quarterly net profit on strong outsourcing demand and it has raised its full-year earnings forecast. Infosys, India's secondlargest software services exporter,
      Reuters; Photo: AFP  -  494 words
    • 452 14 [MUMBAI] THE Indian government is re-looking the tax status of non-resident Indians (NRIs) who have returned to India for good, according to a report in the Business Standard newspaper of India. It said the United Progressive Alliance government is likely to re-intro-duce
      452 words

  • ASIA-PACIFIC/WORLD
    • 852 15  -  ASIA INSIGHT It's unclear if the new spirit is reactionary tendencies or spontaneous and positive action ANTHONY ROWLEY Tokyo Correspondent fa MBITIOUS Japan' reads a slogan m painted nowadays m M in large blue letters on the side of some of Japan's m sleek,
      852 words
    • 379 15 Rivals lying in wait as bank denies talk of acquisition AWSJ [LONDON] Standard Chartered Pic, in signing its proposed US$3.3 billion purchase of Korea First Bank, appears to have doused the notion that it is takeover bait. Not so fast, say some investment bankers and
      AWSJ  -  379 words
    • 434 15 Sales hit US$9.6b beating the past record of US$8.4b Reuters [SAN FRANCISCO] Microchip maker Intel Corp on Tuesday reported its high-est-ever quarterly revenue and boosted its budget for factory and manufacturing investments by more than US$l billion as profits exceeded Wall Street expectations. The bellwether
      Reuters; AP  -  434 words
    • 418 15 Reuters [SINGAPORE] Britain's International Power and Japan's Mitsui are out of the bidding for US$5 billion of Shell power assets, but an American International Group partnership has joined four rivals on the shortlist, sources close to the situation said yesterday. Speaking after a
      Reuters  -  418 words
    • 309 15 Reuters [NEW YORK] Bloomberg LP said on Tuesday it is not for sale, despite recent comments by its founder, New York City Mayor Michael Bloomberg, that he eventually plans to sell the financial news and data company and focus on charitable works.
      Reuters  -  309 words
    • WORLD WATCH
      • 75 15 AP [SEOUL] A South Korean team of scientists who produced the first cloned human embryo last year were yesterday given government approval to proceed with stem cell research to find cures for diabetes, cerebral palsy and Parkinson's and other diseases but not for work toward
        AP  -  75 words
      • 56 15 Reuters [PARIS] British bank Barclays is set to buy ING Ferri, the high net worth money management arm of Dutch financial services group ING's France unit, French newspaper Le Figaro said yesterday. ING Ferri has 1.5 billion to 2 billion euros (553.2-4.3 billion)
        Reuters  -  56 words
      • 61 15 Bloomberg [NEW YORK] New York attorney-general Eliot Spitzer said his investigation of insurance fraud would cut into the market share of the three largest brokerages, Marsh McLennan Cos, Aon Corp, and Willis Group Holdings. "Some of the cartel-like behaviour was a direct result
        Bloomberg  -  61 words
      • 73 15 Bloomberg [LONDON] Holcim Ltd, the world's second-biggest cement maker, said it may bid £1.78 billion (555.5 billion) for Aggregate Industries to expand in the UK and US after four years focused on growth in emerging markets. Aggregate said it would accept Holcim's potential
        Bloomberg  -  73 words
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  • AVIATION
    • 622 16 They are seeking a negotiated settlement on subsidies AFP [STRASBOURG] The EU and the US agreed on Tuesday to shelve WTO action and seek a negotiated settlement regarding subsidies for Airbus and Boeing, avoiding what the EU said would
      AFP; REUTERS  -  622 words
    • 960 16 Never have two groups bet so much on such contrasting visions IHT WITH the new Airbus A3BO set to become the toast of Europe for a day, a less festive scene is unfolding nine time zones away at the Boeing plant in
      IHT; AFP,; AP  -  960 words
    • 190 16 AFP [LONDON] British Airways (BA) is to suspend all its flights between Britain and Saudi Arabia from March because of reduced passenger demand, the company said on Tuesday. BA will suspend its flights between London Heathrow airport and Jeddah and Riyadh in Saudi
      AFP  -  190 words
    • LOG BOOK
      • 169 16 Reuters [NEW YORK] Leaders of the union representing flight attendants at UAL Corp approved late on Tuesday a tentative labour agreement with bankrupt United < Airlines. The Association of Flight Attendants (AFA) said on its website that the United Master Executive Council was unanimously
        Reuters  -  169 words
      • 150 16 Reuters [LONDON] Britain's biggest airport operator, BAA Pic, said passenger traffic rose 4.6 per cent in December from a year earlier as long-haul travel recovered and more people flew on low-cost airlines. BAA, whose seven airports include London's Heathrow, Gatwick and Stansted, said yesterday
        Reuters  -  150 words
    • 1890 16 CITY WJCHT ITA FUttMT CTP 5Q408 1620 Danpasar Ml 5Q141 1145 SQ142 0935 AdalaMa LH9771 1855 AF8088 2250 1535 5Q146 1640 ***** 1855 gg 2230 SQui Igg Amftardam SQ323 0645 K1838 2330 gggj? *19 KL837 1535 5Q324 2345 Pfcaka 5Q435 0405 SQ436 1850 Auckland EK405 0105
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  • SHIPPING
    • 590 17 Brokers optimistic that market will stay bullish throughout 2005 Reuters [TOKYO/SEOUL] Shipping rates in Asia have regained strength this week, shrugging off a bearish mood seen late last year amid hopes that demand from China will pick up ahead of the Chinese
      Reuters; FILE PHOTO  -  590 words
    • 741 17 Bloomberg [LONDON] The shippingderivatives market will probably expand by 20 per cent this year, the Forward Freight Agreement Brokers' Association said. Growth will slow from 2004, when freight rates reached records. The value of contracts tied to costs of shipping commodities nearly tripled
      Bloomberg  -  741 words
    • 255 17 Bloomberg [SINGAPORE] Hyundai Heavy Industries Co, Daewoo Shipbuilding and Marine Engineering Co and other shipbuilders may raise prices 10 per cent this month, Oslo-based shipbroker Fearnleys AS said in a market report. "We already see price indications 5-10 per cent above end
      Bloomberg; FILE PHOTO  -  255 words
    • 330 17 Bloomberg [NEW DELHI] Petronet LNG Ltd, India's only supplier of liquefied natural gas, will hire three additional ships to meet growing imports of the fuel. Its shares surged. Petronet will hire ships that will transport between 165,000 to 200,000 cubic metres
      Bloomberg  -  330 words
    • 271 17 Reuters [LONDON] Norwegian shipbuilder Aker Yards is set to win a billion-dollar order for three new cruise ships from Norwegian entrepreneur Olav Norum, industry paper Lloyd's List reported on Monday. Mr Norum plans to spend 1.2 billion euros (552.58 billion) on three
      Reuters  -  271 words
    • PORT SHOTS
      • 50 17 Bloomberg a [OSLO] Nippon Yusen KK, Japan's largest shipping company, and Denmark's J Lauritzen A/S plan to create a joint venture to operate ships carrying refrigerated cargo. The 50-50 venture builds on the two companies' previous agreement to jointly market their so-called reefer vessels. Bloomberg
        Bloomberg  -  50 words
      • 74 17 Xinhua (BEIJING) Storm tides and other marine disasters cost China 5.4 billion yuan (Ssl .1 billion) in direct economic losses in 2004, with 140 people left dead or missing, China's State Oceanic Administration said on Sunday. "The situation of marine disasters was normal last
        Xinhua  -  74 words
      • 85 17 Bloomberg ISINGAPORH] The Royal Dutch/Shell Group was the largest hirer of crude oil tankers in the single voyage, or spot, market last year as freight costs rose to record levels, according to figures compiled by shipbroker Poten Partners. Shell, Europe's No 2
        Bloomberg  -  85 words
    • 312 17 SGX '000 Jan 12 SS W- Vol CH Offshore 0.39 -0.01 1082 Chuan Hup 0.68 -0.01 818 Cosco Corporation 1.25 0.01 5068 CWT Distribution 0.66 unch 2 EzraHldgs 116 unch 123 Freight Links 0.09 0.01 185 Grand Banks Yacht 1.00 unch 0 Java Holdings 1.02 unch 253 K1
      312 words

  • EDITORIAL & OPINION
    • 496 18 EDITORIAL IT'S not just the statistics in the Economic Development Board's latest report card on the infocomm and media cluster that catch the eye, dramatic as the numbers are; what stands out is that the growth surge is coming from a fresh new set
      496 words
    • 936 18  -  European and Arab nations should take a more active role in mediating negotiations LEON HADAR Washington Correspondent THE election of Mahmoud Abbas, a pragmatic politician committed to negotiating with Israel, as president of the Palestinian Authority (PA) coupled with the formation of a
      REUTERS  -  936 words
    • 729 18  -  THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group "WE have a problem, and the problem is America is getting older and that there are fewer people to pay into the system to support a baby boomer generation which is about to
      The Washington Post Writers Group  -  729 words
    • 1627 19  -  The territory has defied its handover gloom by attracting US$99b of investment from 2,000 mainland companies since 1997 By JASMINE YAP Bloomberg ZHANG Weihong wasn't just looking for investors when she helped lead a team of 1,500 business people to Hong Kong from China's central
      Bloomberg; BLOOMBERG FILE PHOTO  -  1,627 words
    • 436 19  -  LETTER TO THE EDITOR Ang Hao Yao Singapore I REFER to the report "Options expensing forces rethink on staff rewards" (BT, Jan 12). The article mentions that the recent rules requiring the expensing of options have caused many companies to move to
      436 words

  • Page 19 Miscellaneous
    • 354 19 CRYPTIC CROSSWORD 1 More than one lot of characters needing to be sorted out 6 Is imprisoned by goddess, get- P i ting maltreatment (6) LnJ LnJ LmJ Lh 9 Time to admit despicable person's mistakes (6) 10 Item of clothing shown by girl j j j at back H
      354 words

  • 11779 20 STRAITS TIMES INDEX STOCKS Stocfc mnn Wt dote dang* Stock nam* Wt Qos« Changt Allgreen 50c 0.31 1.160 NOL 2.09 3.000 -0.020 Bll Intl US20c 0.44 0.980 OCBC 10.10 13.900 -0.100 Capita Land 1.38 2.120 Parkway H 25c 0.69 1.520 -0.020 Chart SemiCond 26c 0.70 0.950 +0.005 People's
    11,779 words

  • 6068 21 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local cwr In SS la IKS dy yr *dy *yr *dy *yr i«n11 Index Change Change Change Change Change Chang* World Index Preliminary 842.5 -0.3 8.2 -0.5 6.4 -0.2 10.2 t EAFE Preliminary 774.3 -0.3 10.4 -0.2 11.0 0.1 14.9 Europe Preliminary
    6,068 words

  • Page 22 Advertisements
    • 1001 22 I- kJHMfto rt'liMlhiri ini 1 MHWIM i <wm > fiwiwy «i»> w I losMwnppwtss aoTTi woi ii/oi i Tt^i —ii/oP u*T "io/oT Pitt—mm otwss 00/01 23/01 25/01 11 81,181 E KAMANJRA Mi (Ml 11/11 12/01 14/11 10/01 23/01 25/01 > I 0"— I IV«1 wn am 1 MMWIt l/t /t
      1,001 words
    • 682 22 I»IIM Stiff TTffißii m "IHTi ril?i r i yggL/voT imtot mum m koi u» m «r snuinwnwEoi/M 1$ u u/oi 14/01 11/01 STUITC YEMTUK 02/K IS U 20/01 73/01 27/01 30/01 01/02 [gMBWWWW IS 12 03/02 05/0? 10/02 13/02 01/03 hbgmtqu Irw m khh mm |iw no won cor hai
      682 words

  • Page 23 Advertisements
    • 1012 23 MOL Combines a range of shipping modes to ensure Hmely, reliable services covering major ports in Norm America, Europe, Japan, Asia, Africa Oceania. Abo acctpt btnr-Asie Cepn ft: KUSAN KWANGYANG SHANGHAI YANTIAN XIAMEN QMGMO tOAWAN JAKARTA SURABAYA KAOHSIUNG lAN6KOK LAW CHAIANG tKKHWUNH PAS« GUDAM6 KNANG POtT KHAHC For Schedules, BL
      1,012 words
    • 1333 23 VESSEL VOY TP PKG GOLDEN TBAnf SOlwriTT n' 71/1 NEW DYNAMIC 67k ~WT 22/1 IKUO LUNG 1004N I 25/1 I 26/1 I 28/1 I-I I KRTH BRIDGE OZ2A ?7/l 29/1 I GOLDEN GATE lsfl?N I 31/1 I 1/7 I 4/2 I -I- I NEW DYNAMIC 079 A l/T 5/2 *VSI
      1,333 words
    • 969 23 Sj WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS VESSEI VOT SIN P.KLANG COLOMBO N. SHEVA COLOMBO lAJIV GANDHI DOB9W 11JAH OMIT LUAK IMM ZZJAH BAY BUDGE OOSW 18 JAN OMIT 23 JAN 26 JAN 79 JAN PACIFIC QUEST 0003* 24 JAN 26 JAN Z2JAN
      969 words

  • Page 24 Advertisements
    • 762 24 UUf WALLENIUS WILHELAASEN website: http://www.2wglobal.tom VESSEL VOY RAMP LBC MAO ~HOUf~ MIA SAV BAI OOF ~~NVC~ NEW "~MOB TARAGO AFSO2 3201 ms 6.4 M I 18/01 OMIT 18/02 25/02 26/02 03/03 01/03 05/03 22/02 TIXAS Afso3 4201bas 6.4 M I OS/02 02/03 12/03 19/03 20/03 24/03 22/03 26/03 16/03 TAMIRIANE
      762 words
    • 737 24 jassa m s«- esi _msa m m jd fAC MHDA 1353N UZfiJ 14/01 PACIAU HIS 15ZBJ lZZfi] PACIANDA 13«4{i li/SJ 16/01 lltlllTI? Mil llZfl] 2MU CSF 2301 0083? IMI 17/01 fi( IMAM S2A3 2flilU 11M PACIAHDA iaa! 14ZS] 17/01 PAC»AU 4150 22/01 24/01 paoamda una liAi li/oi iHMifnvnpnßHHi of 2301
      737 words
    • 588 24 BSA il MYANMA ■H FIVE STAR UNE (Myanmar National Lint) Loading for Yang on VESSEL VOT SIN PKL PEN PGU PAGAN 338W SID SID HPA-AN 330W SU) IN MALAYSIA: IOUSTEAD SHIPPING AGENCIES KUI/PKL 03-*****388 PEN: 04-*****15 ACCEPTING CONVENTIONAL CBO HKG SIN HKG SIN PGU PKL KUC CRYSTAL HEART 1* SID
      588 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 5673 25 This ETA ETA AMwHrrt Vessel Voyage Tetapboae 5* Decfn hM —hr KSMmMMnaaalHanHMHMaMaHHHMMaaB To ABIDJAN (ABJ) 2003 Cote D'lvoire 22/01 01/03 CMACGM CMACGM MAKASSAR SXIOIW *****800 26/01 19*02 Mm MIMAS F0R8M S10W *****344 26/01 06/03 CMACGM C»M CGM KALAMATA SXIOIW *****800 05/02 01/03 Mm URSULA
      5,673 words
  • Page 25 Advertisements
    • 70 25 TUVALU SHIP REGISTRY 1. Low taxes 5. Accedes to latest international 2. Active role and repraeentation in IMO conventions and regulations 3. Staffed by qualified professional with Round the dock service many years of experience In ship 7. Worldwide network off surveyors registration classification socletlee 4. No restriction on nationality
      70 words

  • BizIT
    • 617 26  -  Corporate sales will be a thrust area, company executives tell AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY BROTHER International Singapore has targeted a 30 per cent growth this year in the Republic for its information and document department, wjflb sells devices and solutions
      617 words
    • 254 26 BROTHER International Singapore yesterday launched three new printers, including its latest 5-in-l colour multi-function centre (MFC). MFC-3240C. The other two are flatbed colour MFCs, the MFC-5440CN and MFC-5840CN. The MFC-3240C is a colour inkjet all-in-one machine for home-office or small office users, according to Jimmy Lim, solutions
      254 words
    • 697 26 Bloomberg [SAN FRANCISCO] Apple Computer chief executive Steve Jobs introduced a lower-priced iPod music player and the least expensive Macintosh computer in the machine's 21-year history in a bid to expand sales of both products. The iPod shuffle uses a
      Bloomberg; AFP  -  697 words
    • 468 26  -  BT exclusive Supply contract with Anwell could be worth $5m By RAJU CHELLAM A SUBSIDIARY of Sesdaqlisted Asti Holdings Ltd said it will supply vision inspection systems to mainboardlisted An well Technologies Ltd for its optical disk replication equipment. The deal could be worth
      468 words
    • 299 26 Reuters (TOKYO! Hewlett-Packard Co's (HP) Japan unit said on Tuesday there are signs that IBM's sale of its PC business to Lenovo Group Ltd is prompting some corporate users of IBM machines to switch vendors. "As a certain maker that has always been competing with
      Reuters  -  299 words

  • PROPERTY
    • 692 27 Balloon mortgages, which are popular in the United States, are being considered [HONG KONG] Several Hong Kong banks are examining introducing a new concept in mortgages to the city as a fierce residential loans market forces them to think of innovative products, says a
      692 words
    • 475 27  -  By ANDREATAN THE River Valley area holds many nostalgic memories for Hong Leong Group chairman Kwek Leng Beng. And this is where the group will develop Watermark, a condominium that will breathe new life into 19th century warehouses. Mr Kwek's first
      475 words
    • 372 28  -  The company will buy over Jusco Mall in Seremban for RM95m By ANDREA TAN GIC Real Kstate continues to strengthen its presence in Malaysia in 2005, with the government property investment arm announcing yesterday it will buy over Jusco Mall in Seremban for RM9S
      372 words
    • 476 28  -  By ALEXANDRA HO WHAT do you do for an encore when your resume includes designing high-pro-file and large-scale projects like the Esplanade Theatres on the Bay and Suntec City International Convention and Exhibition Centre? For eminent local architect Koh Seow Chuan, founder and senior
      ARTHUR LEE  -  476 words
    • 1406 28 Brought to you by HSBC PROJECT NAME/ PROP CONTRACT TENURE BUIIIWIAND PRICE PSf STREET NAME WE DATE AREA*(SQ FT) 000) District 1 NON-LANDED The Sail At Marinabay Apt 30/11/2004 99 883 1052 1192 The Sail At Marinabay Apt 26/11/2004 99 689
      1,406 words
  • Page 27 Advertisements
    • 311 27 wr P^ r Jf 4BNI| •>^^j^B Maaaa^ggHliH^^^H buffet Where to wine, dine and entertain... A World of Exclusive Privileges Treats I (Seafood by the oea /VWV\ Ampu FKU i-oi> Umms Cuitvial Btt* Pmilinc Amiiim t Seafood Dunces (>am>cs JtiNGA 0T ®i• < m Singa Inn Seafood Restaurant 920 Ea»r Co«r
      311 words
    • 57 27 IMERITUS MANDARIN SINGAPORE NEW HEIGHTS Enjoy international favourites high-tea buffet. Adult: $28+++ IOD Child: $18+++ oft)L> Reservations: 6831 6258/88 U) Re% olv irtg r-i r;: 1 MERITUS MANDARIN C *.*4 A divisHMi ol ()vwm*js Union Ent«*rpri** Limited ompdny Registration No. I < M»4OU0 f >()£) ii 5 Orchard Road, Singapore
      57 words

  • Page 28 Advertisements
    • 211 28 M Jones Lang r VW LASalle PRIME REDEVELOPMENT SITE AT MARINE PARADE ■MIUIJJMIiIIJTffIM I l Site area: 81,072 sq ft GPR 1.4,5-storey /Cf Close proximity to reputable schools /<&' J? Marine and amenities /?y Garde^ Easy accessibility to ECP and PIE Tender Closing Date: <C 23 Feb 2005 (Wed) at
      211 words
    • 113 28 I 1 Got the right home? Now get the right home loan. Mr Buying a house in Singapore is a heavy investment However, you can still have the freedom to live life the way you want, with HSBC home loans. Enjoy these benefits when you take up an HSBC home
      113 words