The Business Times, 8 March 2005

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Total Pages: 30
1 30 The Business Times
  • 13 1 THE BUSINESS TIMES SINGAPORESbcenI Tuesday, March 8,2005 online at http://bustness-times.asial.com.sg MICA (P) 089/03/2005
    13 words
  • 861 1  -  Additional floor area will benefit owners like HPL By KALPANA RASHIWALA [SINGAPORE! The longspeculated plans by Hotel Properties Ltd (HPL) to redevelop a prized corner of Orchard Road could move closer to reality thanks to fresh incentives announced yesterday to revitalise Singapore's prime shopping
    861 words
  • 779 1  -  Plan to give it 29.9% stake in 2-step $130m deal By JOYCE KOH [SINGAPORE] The postman has come knocking on the door of troubled mobile phone services provider Accord Customer Care Solutions and could deliver a $130 million investment. In a surprise twist,
    ARTHUR LEE  -  779 words
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  • TOP STORIES
    • 657 2  -  It points out however, that dividends are directors' call By ANGELA TAN [SINGAPORE] Overseas Union Enterprise (OUE), the hotel property company controlled by veteran banker Wee Cho Yaw's United Overseas Bank (UOB), is seeking legal advice on proposed resolutions it received on Friday
      657 words
    • 305 2  -  No sale allowed pending probe on company By JOYCE KOH [SINGAPORE] Attempts by the former chief executive of troubled listed company Citiraya to sell his house has hit a roadblock. Yesterday, the Corrupt Practices Investigation Bureau (CPIB) said that it had halted Ng
      305 words
    • 914 2  -  COMMENTARY One woman's reflections on International Women's Day By JAIME EE SO I DIDN'T get a greeting card that said "Happy International Women's Day". Then again, I didn't get a card for World Animal Day, International Earth Day or Groundhog Day. But does that
      914 words
    • 715 2 Developers welcome chance to build HDB flats PRIVATE property developers have welcomed a pilot scheme that will give them a role in developing public housing. National Development Minister Mah Bow Tan announced the Design, Build and Sell Scheme in Parliament yesterday. TOP STORIES, PG3 NOL steams past $4
      715 words
    • 770 3  -  But HDB ownership rules still apply; developers welcome pilot scheme ALEXANDRA HO ALEXANDRA HO [SINGAPORE] Private developers have welcomed a pilot scheme that will give them a role in developing public housing. But most are taking a wait-and-see approach until
      770 words
    • 336 3 Minister says market is stable and recovering [SINGAPORE] The government dashed hopes of developers and home owners who had been hoping for measures to stimulate the residential property market when Minister for National Development Mah Bow Tan spoke on the issue in
      336 words
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  • COMPANY NEWS
    • 850 4  -  It doses 14 cents up at a new high of $4.20, trading on a cum dividend basis By VEN SREENIVASAN RIDING on merger speculation, strong fundamentals and a generous dividend payout, the share price of Neptune Orient Lines surged 17 per
      Source: Bloomberg  -  850 words
    • 458 4 SINGAPORE FIRMS IN MALAYSIA Broker will also offer origination and distribution KIM Eng Holdings has confirmed that it is bidding for one of the five hotly soughtafter foreign stockbroking licences offered by Malaysia's Securities Commission. "We are an applicant," Ong Seng Gee, executive
      458 words
    • 306 4  -  By S JAYASANKARAN in Kuala Lumpur A UNIT of Singapore's investment company Temasek Holdings will gain a toehold in one of Malaysia's smallest lenders through taking a stake in Malaysian Plantations Bhd (MPlant). This follows private company Langkah Bahagia's agreement yesterday to sell
      306 words
    • 813 4  -  HOCK LOCK SIEW By SIOW LISEN MARGE Magner, the chairwoman of Citigroup's global consumer group, made a charming picture story in a newspaper last week. Billed as one of the most powerful women in business, she was seen hobbling on crutches to open two
      813 words
    • 561 5  -  Plan aimed at boosting return on equity and earnings per share By WONG WEI KONG ANNOUNCING details of its capital reduction plan to return $250 million to shareholders, SembCorp Logistics (SembLog) yesterday said it would cancel up to 139.7 million shares, a move
      Source: Bloomberg  -  561 words
    • 407 5  -  It will factor in cost of laying pipe and compensation for quitting transmission By RONNIE LIM SEMBCORP Gas which spearheaded a Singapore consortium's purchase of natural gas from Indonesia's West Natuna in 1998 is looking for "fair compensation" for transferring ownership of a
      407 words
    • 176 5 Bloomberg SEMBCORP Industries Ltd, South-east Asia's biggest civil engineering company, said its SembCorp Utilities unit will invest 187 million in a wood-burning power station to provide renewable energy. SembCorp Utilities' UK subsidiary, SembCorp Utilities (UK) Ltd, will build the plant known
      Bloomberg  -  176 words
    • 632 7  -  CAO meanwhile says JM bid will lead to 'certain' liquidation and won't benefit stakeholders By WONG WEI KONG DEUTSCHE Bank AG is offering to buy some of China Aviation Oil (Singapore) Corp's US$53O million debt from creditors for 40 per cent of
      632 words
    • 596 7 Reuters A STRING of corporate scandals is casting a pall over Singapore's smallcapitalisation firms, knocking down shares in a sector that stock market authorities had hoped would be a key source of the market's growth. Singapore's small-cap UOB Sesdaq Index has fallen about
      Reuters; Ben Cruz  -  596 words
    • COMPANY BRIEFS
      • 81 7 KOH Wee Meng, Fragrance Group's executive chairman and chief executive officer, has doubled as the company's project director —at least for the time being. The move came after Lim Chee Chong quit the position. Mr Koh will oversee project functions until a suitable replacement is found
        81 words
      • 81 7 CALLING them "revenue drivers in FY2005", Youcan Foods International, which manufactures and sells frozen food and ice-cream products, yesterday introduced 15 new ice cream products aimed at young and trendy China consumers. The flavours range from chocolate, sesame, honeydew to yam. Youcan's chairman
        81 words
      • 78 7 ENGINEERING services provider Trek 2000 International has unveiled four new thumbdrive solutions, including the Thumbdrive Swipe Armour and Thumbdrive Portable Operation System which the company said are the first of their kind in the world. The Thumbdrive Swipe Armour helps companies protect information by delineating
        78 words
      • 74 7 SUNTEC City Development (SCD), the property manager of Suntec City properties in Suntec Reit's portfolio, has made Patrick Lum its new chief executive officer, the appointment taking effect on March 19. He replaces outgoing CEO Wong Ah Long. Mr Lum is currently general manager
        74 words
      • 15 7 OCBC said it yesterday dissolved Kismis Properties, a wholly-owned dormant subsidiary.
        15 words
    • 658 9  -  1.84b yuan Beijing buildings bring its China holdings to just under $1 billion By MICHELLE QUAH PROPERTY developer Capita Land has made another big-ticket purchase in China, this time buying a 1.84 billion yuan (***** million) office property in Beijing's central business
      658 words
    • 278 9 Bloomberg [HONGKONG] Companies controlled by Li Ka-shing have cut their stake in Hongkong Land Holdings, the company that the Hong Kong billionaire wanted to gain control in a hostile attempt in the 1980s. Cheung Kong (Holdings) and unit Hutchison
      Bloomberg  -  278 words
    • 646 9 Reuters [HONG KONG] Singapore property stocks are the pick of a lacklustre Asian bunch so far this year as the city-state inches into a property market revival, but analysts say high home ownership and oversupply still haunt developers. Asian property shares tracked by Neth-erlands-based
      Reuters; FILE PHOTO  -  646 words

  • Page 5 Advertisements
    • 216 5 Now you can enjoy exclusive Thai hospitality for less. Fly to selected destinations in Asia and Europe in our renowned Royal Executive Class at lower than usual rates. Royal Orchid Plus members will continue to earn full miles that count towards Silver or Gold status requirements. Bangkok Jakarta Beijing Chengdu
      216 words

  • SINGAPORE MARKETS
    • 516 6  -  STOCKS China, tech and transport lead the charge, but climb marred by second-liners and last-minute profit-taking TEH HOOI LING Senior Correspondent THE Singapore market climbed for the fifth consecutive day yesterday, with the key Straits Times Index (STI) reaching 2,166.12 for a gain
      Source: Bloomberg  -  516 words
    • Article, Illustration
      838 6  -  Compiled by TEH HOOI LING FIBRECHEM March 7 dose: 76.5 cents (+5 cents) MERRILL LYNCH. March 7 WE initiate coverage of Fibrechem with a BUY recommendation and a price objective of $1.06. Our price objective is -based on lOx FYOS price objective implies 48 per cent upside. Despite
      Source: Bloomberg  -  838 words
    • 527 6  -  CURRENCIES LARRY WEE Senior Correspondent A STRONG US jobs number last Friday impressed Wall Street but not currency traders, who propelled the New Zealand dollar (Kiwi) to record highs against the US and Singapore dollars. The Kiwi, Canadian dollar and gold led
      Source: Reuters  -  527 words
    • TRADES TO WATCH
      • 83 6 IN a married deal, Best World International's chairman Doreen Tan (top right) and CEO Dora Hoan (top left) sold 3.5 million each of their shares at 25 cents each to strategic investors Derek Goh (above) and Goh Tiong Yong. The sale reduced
        83 words
      • 51 6 NEWTON Investment Management bought 1,9750,000 shares in the open market last Thursday to raise its stake in Olam International to 5.5 per cent from 5.37. There was no information on the price it paid. Olam's share price yesterday dipped two cents to close at 90.5
        51 words
      • 66 6 CHRISTOPHER Ho, chairman and substantial holder of Lafe Technology, has raised his deemed stake in the company to 64.24 per cent from 64.08 per cent through an acquisition of 1.6 million shares of the company in the open market yesterday. The Grande Group is
        66 words
      • 70 6 STEVEN Tham, chairman and CEO of Ace Dynamics, has increased his deemed interest in the company from 12.86 per cent to 13.25 per cent. The change came from the purchase of 550,000 shares in the open market by HL Bank Nominees last Friday in the
        70 words
      • 70 6  -  Compiled by CHUANG PECK MING CHNG Gim Huat, a substantial shareholder of Ipco International, bought 400,000 of the company's share in the open market on March 1. He bought another 694,000 shares on March 3. As a result of the purchases, his interest in
        70 words
    • Article, Illustration
      424 6 OTHER SINGAPORE INDICES Mar 7 VALUE CLOSE BT OB/OS -430.00 +155.00 BTCADI -*****.00 4-82.00 BT 10-day MA -*****.00 -43.00 Ali-SG Equities 559.04 +4.35 SG Equities Elect 143.99 +1.75 SG Equities Fin 1620.54 +4.19 SG Equities Prop 559.52 +2.48 SIMSCI 255.% +1.86 SiMSCI Futures 255.80 +1.10 MOST ACTIVE STOCKS VOLUME UniFibef
      424 words

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  • SMALL CAPS
    • 348 8  -  By TEH HOOI LING OUR small capitalisation portfolio rebounded, thanks in part to the recovery in the share price of Accord Customer Care Solutions (ACCS). Having been thrashed severely the week before, ACCS recovered by 32 per cent in the five days to yesterday
      348 words
    • 880 8  -  It manages to pull in more orders by moving into higher margin products, reports ANGELA TAN ANGELA TAN Mainboard-listed Agva Corporation Ltd isn't in an enviable position. Not only is the Singapore company, which makes media storage products and lifestyle accessories in its China factories, operating in
      FILE PHOTO  -  880 words
    • 4117 8 UNIT TRUSTS FUNDS UP G Teed 5.02 1.*****/ UP G'Md 7.0/2 1 *****/ c UP G'Md fund 5.03 1.*****/ 'SP 0 1 UP G'Md Fuid 7.0*3 1.*****/ Star Euope Eqly! 0.823/ Upswni Ftnl 5 0/1 0.*****/ Star Europe Bond 1357/ now" 5» tapt" '•«<' SwSg FUND S.RR/90% 0.*****/ Star Asian
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  • SINGAPORE NEWS
    • 523 10  -  Swiss giant aims to raise output to 6.5b units in the future as business grows By CHEN HUIFEN SINGAPORE is set to become Novartis Pharma AG's largest manufacturing base in Asia in two years' time, when it will produce half a dozen
      523 words
    • 488 10  -  YESTERDAY IN PARLIAMENT By CHUANG PECK MING OLD issues relating to small and medium enterprises (SMEs) don't go away they keep resurfacing. And Members of Parliament keep repeating them whenever an opportunity arises. It arose yesterday when the budget for the Ministry of Trade
      488 words
    • 446 10  -  By KAREN HO WOULD you know the difference between an Elec-tro-Reflexologist and an Electro-Relaxologist? Well, healthcare product importer and distributor OTO Bodycare Pte Ltd is betting you won't. The company has taken a 26-year-old businessman to court alleging trademark infringement and passing off his product
      446 words
    • 368 10  -  By RONNIE LIM SPC became the latest to "blink" in the petrol price feud yesterday, when it cut its "10-plus-5" per cent discounts to "5-plus-5 per cent" discounts at four outlets. The result: motorists at these stations have to cough up about
      368 words
    • 375 10  -  By LIZA LIN BETTER educated dr not, Singapore women feel they still lag their counterparts in neighbouring countries in socio-economic advancement. According to a survey released yesterday by MasterCard International, Singapore women regard themselves as inferior despite their large numbers in the
      FILE PHOTO  -  375 words
    • 354 10  -  By CAHOLYN QUEK THE manufacturing sector showed the greatest increase in hiring fresh graduates last year, according to the latest graduate employment figures. Of the 3,055 respondents from the National University of Singapore, 14.3 per cent found employment in manufacturing almost double the
      354 words
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  • SINGAPORE FOCUS: INDUSTRIES
    • 1151 11  -  POINT-OF-SALES MACHINES A growing market for point-of-sales machines bodes well for S'pore-based companies which have half the world's share. JEAN CHUA reports JEAN CHUA AMID mixed signs regarding the health of Singapore's manufacturing industry, the island is still cornering a large share of at least
      FILE PHOTO  -  1,151 words
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      298 words

  • ECONOMY WATCH
    • 1964 12  -  DANIEL LIAN and DEYI TAN say the economic logic for a S'pore casino would be undermined by a reliance on a significant local clientele DANIEL LIAN, DEYI TAN THE Singapore government has stated that it is interested in building an integrated resort (IR)
      1,964 words
    • 440 12 AFP [BANGKOK] Thailand's economy expanded 6.1 per cent in 2004 despite drought, bird flu and high oil prices slowing growth in the last quarter, but it could dip below 6 per cent this year, officials said yesterday. "GDP in the fourth quarter
      AFP; AP  -  440 words
    • 595 12 Even return of high oil prices fails to dent optimism Reuters [BASEL, Switzerland] Central bankers are more optimistic about the global economic recovery despite the prospect of sluggish growth in the euro zone and Japan plus resurgent oil prices, top monetary
      Reuters  -  595 words

  • MALAYSIA/INDONESIA
    • 710 13  -  INDONESIA INSIGHT Nationalistic feelings complicate M'sia, Indon claims over oil-rich waters SHOEB KAGDA Jakarta Correspondent Diplomatic relations between Indonesia and Malaysia, already strained over Malaysia's decision to round up and deport hundreds of thousands of illegal Indonesian workers over the past two months,
      710 words
    • 361 13 Reuters [KUALA LUMPUR] Malaysia's two main local car makers are looking at ways to cooperate and cut costs but there is no talk yet of any merger, one of them said yesterday. Proton and Perodua are Malaysia's two main domestic manufacturers, claiming
      Reuters  -  361 words
    • NOTE BOOK
      • 89 13 Reuters [JAKARTA] BP pic gave the go-ahead for its multi-billion dollar Tangguh LNG project in Indonesia yesterday, signing engineering contracts after Jakarta granted a key licence extension for associated gas fields. Tangguh, in remote Papua province north of Australia, is set for output
        Reuters  -  89 words
      • 102 13 Reuters [KUALA LUMPUR] Malaysia's most valuable phone firm Telekom Malaysia Bhd said yesterday it is considering the possibility of selling shares in its Sri Lankan unit in an initial public offer. The local Star newspaper reported on Saturday that Telekom could raise
        Reuters  -  102 words
      • 81 13 Bloomberg [HONG KONG] Hutchison Global Communications Holdings Ltd, Hong Kong's second-largest fixed-line phone company, said profit in 2004 rose 83 per cent from a year earlier. Net income rose to HK$97 million (5520.2 million), or 1.3 Hong Kong cents a share, from HK$53 million, or
        Bloomberg  -  81 words
      • 89 13 AFP [HANOI] A 26-year old Vietnamese man who worked as a nurse in a hospital with bird flu patients in northern Vietnam has contracted the deadly virus, a doctor said yesterday. It was still unclear whether the man contracted the virus from a
        AFP  -  89 words
    • 478 13 TERRITORIAL DISPUTE AFP, AP, Reuters [JAKARTA/KUALA LUMPUR] Indonesia has sent fighter jets and more warships to waters it is disputing with Malaysia, but both nations said yesterday they would peacefully resolve claims over the potentially oil-rich area. In Jakarta, a navy spokesman said Indonesia
      AFP,; AP,; Reuters  -  478 words
    • 316 13 AP [KUALA LUMPURJ Malaysia has given Indonesia one month to remove bottlenecks holding up the return of former illegal workers with proper papers, and warned that it will seek labour from other countries if delays persist, a minister said yesterday. Home Minister Azmi Khalid
      AP; AFP  -  316 words
    • 2244 13 vol KM* 1.16 unch 117 Mr 7 H W- rw> FTK Resources .0-36 unch 382 FurqanBus.Org. 033 0.01 2161 AtMReafty 1.50 -0.03 42 Gadang 1.45 0.02 1011 Abrlc 0.46 0.02 355 Gamuda 535 unch 137 ACPImfcMries 1.06 **4 24 General Corp .0.47 unch 249 Advance Synergy
      2,244 words

  • GREATER CHINA/INDIA
    • 535 14 Pro-democracy activists fear delay in reforms if any successor is given full five-year term Reuters [HONG KONGI Hong Kong's chief executive met his reported heir apparent after returning from meetings with Chinese leaders but maintained his silence yesterday about whether he
      Reuters; AP  -  535 words
    • 483 14 But guidelines pose stiff challenge to Chinese banks Bloomberg [BEIJING] China's banks will comply with new international capital requirements by 2012, six years after the world's biggest economies adopt the rules, the nation's banking regulator said yesterday. The new Basel II Capital
      Bloomberg  -  483 words
    • 149 14 AP [BEIJING] China is considering imposing limits on soaring executive pay at its scandal-plagued state companies, the government said yesterday. A tentative plan would limit a boss* pay to 14 times that of the company's average employee, the official Xinhua News
      AP  -  149 words
    • 484 14 Move aims to drain surplus cash from banking system Bloomberg [MUMBAI] India's sale of stabilisation bonds, meant to drain surplus cash from the banking system, will depend on investment inflows from overseas, Department of Economic Affairs secretary Rakesh Mohan said. The central
      Bloomberg  -  484 words
    • 41 14 [BEIJING] A Chinese couple hitting the slopes at a ski resort in the suburbs of Beijing, wearing ski-mpy attire to show other skiers that it is unnecessary to suit up to enjoy the sport AFP
      AFP  -  41 words
    • 383 14 Bloomberg [BEIJING] China will this year begin reorganising Industrial Commercial Bank of China, the nation's largest lender, in preparation for an initial public share sale, said Liu Mingkang, the country's top banking regulator. China plans to turn Beijing-based Industrial Bank into a joint-stock
      Bloomberg  -  383 words
    • 252 14 Bloomberg [MUMBAI] Punjab National Bank, India's third-largest bank by assets, received bids for double the 80 million shares it's selling to individual and professional investors. "We got bids for about two times the number of shares on offer in the first 30 minutes,"
      Bloomberg  -  252 words

  • ASIA-PACIFIC
    • 569 15 SONY BREAKS THE MOULD Stringer will be first foreigner to head a major Japanese electronics firm AP, NYT [TOKYO] Breaking with convention. Sony Corp yesterday named a foreigner as its chairman and chief executive. The decision to name Howard Stringer, the head of
      AP,; NYT  -  569 words
    • 579 15 It may take his visionary knack to turn Sony around Reuters [NEW YORK] Howard Stringer's razor sharp wit and a reputation as a corporate diplomat will be critical assets for the first foreigner to lead Japanese electronics powerhouse Sony Corp. Mr Stringer, 63, the head of
      Reuters; AP  -  579 words
    • 393 15 Reuters [TOKYO] Japan yesterday unveiled a closely watched guideline for Japanese firms to use a so-called "poison pill" defence against unwelcome takeovers. The guideline by a trade ministry panel cited three requirements to prevent abuse of the US-style poison pill or shareholder
      Reuters  -  393 words
    • 363 15 Reuters, Bloomberg [SEOUL] The world's top flat screen maker does not expect prices of liquid crystal displays (LCD) for computers and TVs to rebound until later this year. Samsung Electronics had predicted in January that prices could recover as early as the
      Reuters,; Bloomberg; AP  -  363 words
    • 305 15 Bloomberg [TOKYO] Trading company Marubeni Corp and private equity firm Advantage Partners Inc are taking control of Daiei Inc, Japan's thirdbiggest retailer, which will receive 112 billion yen (551.73 billion) in new funds. Analysts said Marubeni's food business and its existing shareholding in
      Bloomberg  -  305 words
    • 419 15  -  Lucio Tan charged with tax evasion involving 26b pesos By AL LABITA in Manila ETHNIC Chinese taipan Lucio Tan, one of Philippines' richest men, is facing the biggest trial of his life a 26 billion pesos (***** million) tax evasion case. Long
      419 words

  • WORLD
    • 818 16 Firms are tapping into areas such as search, blogging, Internet telephony [LONDON] Five years after the dotcom bust, Silicon Valley is once again pondering: is the sky the limit for a new batch of Internet companies? To entrepreneurs such as Reid Hoffman, the
      818 words
    • 267 16 Reuters, Bloomberg [FRANKFURT] The disciplinary committee of the Eurex derivatives exchange will examine controversial government bond trades by Citigroup after an enquiry by the German state of Hesse found enough evidence of breach of trust. Economy Minister Alois Rhiel. who is responsible for regulating Frankfurt's
      Reuters,; Bloomberg  -  267 words
    • 376 16 Purchase is biggest defence-industry acquisition in more than four years NYT [LONDON] BAE Systems, the British military contractor, reached a deal to acquire United Defense Industries for about US$4 billion. BAE, one of the Pentagon's largest contractors, will pay US$75 a share in
      NYT  -  376 words
    • 152 16 NYT [NEW YORK] Four court rulings, including a unanimous decision by the Washington State Supreme about I**** internet cnmp—ylnfoSpf soared to a market value of US$3l billion in March 2000 and then quickly collapsed, with its stock losing 99.7 per cent of its
      NYT  -  152 words
    • 293 16 Lender's ads first to spotlight low-key 'ladies' banking' NYT [RIYADH] Saudi women may not be allowed to vote or drive, but they may control their own finances. A few years ago, Saudi banks started opening social branches for women, with separate entrances,
      NYT; REUTERS  -  293 words
    • 659 17 LSE DEBACLE The German bourse's shareholders oppose its offer Bloomberg, Reuters, FT [LONDONl Shares of London Stock Exchange Pic shares slumped 11 per cent yesterday after Deutsche Boerse abandoned a £1.3 billion (Ss4 billion) offer for the UK market. The LSE declined to comment on the
      Bloomberg,; Reuters,; FT  -  659 words
    • 375 17 Reuters [LONDON] The pressure is rising on London Stock Exchange (LSE) chief Clara Furse. Jilted by German exchange group Deutsche Boerse, she now has to clinch a deal with European rival Euronext or carve a convincing plan for the LSE
      Reuters  -  375 words
    • 449 17 This follows probe into his personal relationship with a female executive Reuters [NEW YORK] Boeing Co yesterday said it fired chief executive Harry Stonecipher, after a probe into a personal relationship he had with a female executive that it said "reflected poorly" on the No 1
      Reuters; AFP  -  449 words
    • WORLD WATCH
      • 100 17 Reuters, AFP [SEOUL] South Korea's Finance and Economy Minister Lee Hun-jai resigned yesterday following media allegations he and his wife breached regulations in some real estate deals. Mr Lee insisted he and his wife were not involved in any illegal activities. Two weeks ago it was revealed
        Reuters,; AFP  -  100 words
      • 93 17 Reuters [TOKYO] Japanese firms boosted capital spending in the three months to December from a year earlier but by much less than in previous quarters, data showed yesterday, dampening hopes for an upward revision to economic growth data. Companies raised spending on plant and equipment for
        Reuters  -  93 words
      • 75 17 NYT [NEW YORK] The Carlyle Group and the co-founders of Insight Communications, the ninth-largest cable television operator in the US, are planning to make a US$65O million offer to buy out the public shareholders of Insight. The move follows a similar plan last year by
        NYT  -  75 words
      • 56 17 AFP [WASHINGTON] Former US president George H W Bush said in an interview he was convinced his younger son, Florida Governor Jeb Bush, will not run for president in 2008. Speculation about Jeb Bush's 2008 ambitions were fuelled by his high-profile trip to
        AFP  -  56 words
    • 513 17 [NEW YORK] Is Warren Buffett losing his touch, or is he just waiting for the rest of the world to come to its senses? The question assumed fresh relevance this weekend when Berkshire Hathaway, his diversified investment group, reported a performance in 2004
      513 words
    • 548 17 The credit card firm will get a network of bank branches LAT-WP [WASHINGTON] Capital One Financial Corp. facing growing competition and an increasingly saturated market for credit cards, agreed on Sunday to buy Hibernia Corp, a major Southwest bank, for
      LAT-WP  -  548 words
    • 332 17 Reuters [BRUSSELS] The shifting of work to low-cost countries has been greatly exaggerated as a threat to European jobs and "delocalisation" is good for the European economy overall, an unpublished European Commission (EC) study says. European Union (EU) finance ministers had been due
      Reuters  -  332 words
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  • AVIATION
    • 672 18 Construction of RM4b new terminal is expected to start by 2007 Bloomberg [KUALA LUMPUR] Malaysia plans to build a new terminal at Kuala Lumpur International Airport as part of a plan to double the number of passengers it can handle to 50 million
      Bloomberg  -  672 words
    • 589 18 Bernama [KUALA LUMPUR] The code-share agreement between Malaysia Airlines, Singapore Airlines and Silk Air is seen as a win-win strategy for all the parties, say travel industry insiders. Already, the arrangement has whipped up great interest in Kuching, one of the destinations included
      Bernama  -  589 words
    • LOG BOOK
      • 96 18 AFP [KUALA LUMPUR] National carrier Malaysia Airlines said it will mount two weekly flights between Kuala Lumpur and Xian in China from this month. MAS said a two-class configured Airbus A 330-200 aircraft would be used on the route, providing a total
        AFP  -  96 words
      • 92 18 AFP [TEHRAN] An Iranian passenger plane flying into Tehran from Bangkok, sped off the runway early yesterday, but none of the 77 passengers or crew on the Mahan Air-operated Airbus A3lO were hurt, the state news agency IRNA said. The incident occurred at
        AFP  -  92 words
    • 500 18 [LONDON] British Airways has started planning in earnest the succession to its highly rated chief executive, Rod Eddington, with the emergence of a shortlist of senior airline executives and internal high fliers, says a report in The Sunday Observer.
      BLOOMBERG  -  500 words
    • 336 18 Bloomberg [PARIS] Air France-KLM Group, Europe's biggest airline, said passenger traffic rose 3.8 per cent in February, the 19th consecutive monthly increase, as demand grew for long-distance flights. The load factor, or proportion of seats filled, rose 1.4 percentage points from a
      Bloomberg; AFP  -  336 words
    • 1834 18 CITY FUGHT HA HKNT ITO Dvwtn AF8088 2250 MllaMl LH9770 2245 HS SO229 2245 H*** au AF8088 2250 MI566 1920 MI566 0915 BA7382 2250 MM SQ407 0710 IC856 1145 Qf82 2250 IC8S5 1015 SQ408 1855 Amftardam SO323 0645 K1838 2390 OiapanrBaH 5Q141 1145 5Q142 0935 KLB37
      1,834 words

  • SHIPPING
    • 707 19  -  Port urges wider inland transportation investments By DONALD URQUHART [SINGAPORE] The Port of Vancouver will need a new facility or a redevelopment of an existing one every two years from 2006 to 2016, costing a total of Csl.4 billion (Ssl.B billion).
      FILE PHOTO  -  707 words
    • 49 19 [FUNEN, DENMARK] The ship IWV Karen Danielsen in Lindholm Harbour on the island of Funen. in Denmark, on Friday. The freighter had slammed into Denmark's longest bridge on Thursday evening, leaving one of its Croatian crew dead and briefly halting traffic on the bridge. AP
      AP  -  49 words
    • 266 19  -  By DONALD URQUHART [SINGAPORE] Reflecting the surging global demand for container shipping, China International Marine Containers (CIMC) Co, the world's largest maker of shipping containers, posted more than a threefold jump in 2004 net profit. The Shenzhen-based company, listed on both the Shenzhen
      266 words
    • 310 19 Reuters [BEIJING] Qingdao Port, China's third largest, will build a US$6O million oil offloading wharf with Asia's largest oil refiner, Sinopec Group, along with a container dock with earlier partners, a senior executive said. The new oil wharf will have a capacity of 300,000
      Reuters  -  310 words
    • 436 19 Reuters [SINGAPORE] Chinese trading houses are seeking term fuel oil cargoes from suppliers with storage facilities outside Singapore following an imminent global ban on single-hulled tankers, industry sources said yesterday. More than 40 per cent of the global Panamax fleet, which Chinese traders use mainly
      Reuters  -  436 words
    • 292 19 S6X Iter 7 St *1 Vol CH Offshore ...0.37 unch 578 ChuanHiv j0.73 0.01 1471 Cosco Corporation .1.58 0.02 3546 CWT Distribution .0.68 0.03 110 EzraHldgs 1.05 unch 174 Freight Links 0 09 unch 639 Grand Banks Yacht 1.13 -0.02 38 Jaya Holdings 1.06 -0.01 539 K1 Venture—
      292 words
  • Page 19 Advertisements
    • 145 19 NOTICE TO TRADE SINGAPORE/PORT KLANG TO CHENNAI AND V V CHENNAI CONTAINER TERMINAL IMMEDIATE CONGESTION SURCHARGE Feeder operators wish to inform the trade that with the current improvement at Chennai Container Terminal (CCT), they have decided to reduce the CCT Immediate Congestion Surcharge to USD 15.00/TEU (Laden) and USD 7.50/TEU
      145 words

  • EDITORIAL & OPINION
    • 504 20 EDITORIAL US Federal Reserve chairman Alan Greenspan is the master of the understatement. But last week America's central banker seemed to drop his usual restraint. He sounded somewhat gloomy when he warned that the growing US federal budget deficits were "unsustainable" and threatened to cause economic "stagnation"
      504 words
    • 1490 20  -  Driven by a voracious and cash-rich economy, China enters South America in search of fuel By JUAN FORERO NYT LATIN America is becoming a rich destination for China in its global quest for energy, with the Chinese quickly signing accords with Venezuela, investing in largely untapped markets
      NYT; AFP  -  1,490 words
    • 761 20  -  THE BOTTOM LINE SHADA ISLAM Brussels Correspondent NEWLY appointed government leaders traditionally get a three month "honeymoon" with the public and the opposition. Jose Manuel Barroso, president of the European Commission since Nov 22, is an exception. The former centre-right Portuguese premier's
      761 words
    • 1286 21  -  Recent corporate scandals in developed countries have added greater urgency to reform in Asean countries By RAJENTHRAN ARUMUGAM IN the last few months corporate scandals in China Aviation Oil (CAO), Accord Customer Care Solutions, Linair Technologies, Greatronic Technology and Citiraya in the Singapore corporate scene have
      AFP  -  1,286 words
    • 450 21  -  LETTERS TO THE EDITOR Charles Moore Managing partner Heidrick Struggles Singapore MICHELLE Quah finds a supposedly "easy answer" forjjie recent spate of corpofate scandals in Singapo*s with a "leaf from Sar-bafcies-Oxley". ("Taking a leaCJrom Sarbanes-Oxley", Hofck Lock Siew, March 2). Ovejf-regulation should not be the
      450 words
    • 593 21  -  Low Wee Siong Singapore I REFER to the commentary, "Taking a leaf from Sarbanes-Oxley" (BT, March 2) by Michelle Quah. It is disturbing that the responsibility for the failure to prevent financial scandals has been placed squarely on the shoulders of top management and that stringent
      593 words
    • 169 21  -  Koh Boon Hwee c/o Wuthelam Holdings Pte Ltd I REFER to your article "Risk-taking at any price?" (BT, March 3). At the press conference two parallel topics came up. One was obviously the proposed investment in Citiraya. The other was corporate governance in general. The
      169 words

  • Page 21 Advertisements
    • 103 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to bttetterGsph.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 21 Miscellaneous
    • 181 21 CRYPTIC CROSSWORD 2 Really go all out to write a narrative (8) 16 Somehow fit names into the YESTERDAY'S SOLUTION 3 Recovery expected in about invoice (8) Across 5 Rennet 8 Slamming thirty years (12) 17 Newcomer is an amorous fel- Espouse, 10 India, 11 Collision, 13 4 Eat it
      181 words

  • 11764 22 STRAITS TIMES INDEX STOCKS Stodnww m Oo— Qmig« stodi imm m Oo» Change Allgreen 50c 0 30 1.170 -0.010 NOL 2.81 4.200 *0 140 BIL Intl US20c 0.49 1.120 OCBC 9.68 13.900 *0.100 Capita Land 1.57 2.510 *0.030 Parkway Hldy 25c 0.76 1.740 *0 040 Chart SwniCood 26c
    11,764 words

  • 6030 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES la local on la SI In USS %yr «dy %yr «dy %yr M«f4 >nda« Chanqa Plant Oianga Qvanga Changa Chang. World IndwPwfcwnary 874.4 0J__ 2j6 09 13 1.0 M 8091 OS 47 U 17 13 3.2 Europe PMIminary ***** 0j6 5.6 13 3.5
    6,030 words

  • Page 24 Advertisements
    • 1469 24 I Import i I NORTH AMERICA AUSTRALIA/NEW ZEALAND I |BUPgß»wmi£EXP«gB»is«x) n 1 m nu I'll I I I 1 tttt. tttt, Vtssa voy m stp m ua m m wo OOCLMNGOO 07W07 23/02 13/03 15/03 OOCL HAMBURG 09*00 02/03 20/03 22/03 24/03 20/03 02/03 04/03 00/03 13/03 ,S/03 PM NEDUOYD
      1,469 words
    • 780 24 IHlfftMIA ftOftQ HffVlCf vesa/vor hbgwtwu to kh u» sw jkt SIMITSVBfTUK 07/05 IS 3.1 23/03 24/03 31/03 03/04 05/04 STtAITC VWTUK 01/05 15 12 07/04 M/ 04 STMTS VBtnigW/DS 15 I 3J 11/04 21/ M 26/04 21/04 01/05 m khm hi sw i r»o hcmcgphmi Rl QUAN KOU/S 50 4
      780 words

  • Page 25 Advertisements
    • 943 25 Combiim C o rang* of shipping nwdw to wmra hnnly. raliable htykm cowing major porta in N a r i il,; I, ta. |~«,7 norm AivwncQ/ curopv/ jopon; avtvcq oi v/ukji ikj« JUnMflli»MiCqwtK WSAM KYfftlfOTfliyQ SHANGHAI YANIUN XMMBI QMGOAO BEIAMMI JAKARTA SURABAYA KAOWSMIG IAMWOt UU3R CHAIAMG HQCHWW MBAMQ PPUN6 PORT
      943 words
    • 1108 25 VESSEL VOY TT PKG KUO LUNG 00AM I 1/3 I 9/3 11/3 -I PERTH HIDGE 07? A ZWT jgCZ GOLDtW GAT! 504N I 15/3 I I t/3 18/3 N{W PfHAMK QJ2A _12ZL IV? GOLDCH TtADE SQ4N I 22/3 I 23/3 I 25/3 I -I I Pt«TH KIDCE 076 A 24/3
      1,108 words
    • 956 25 m WEEKLY EXPRESS SAILING SCHEDULE I" ALSO ACCEPTING TO ALL NORTHERN AMD WESTERN ICQ POINTS I vessel voy Isw IPXAM6I Colombo |It SHEVA I COLOMBO I run, mmi I ALSO ACCVTMG KL 10 COORH, TUDCOtW (VIA COUMMO) AIB UMDU 1 60*1 (VIA N SHEVA) CONMCTMG MODS VSLS TO UOPI (FaiXSTOWL
      956 words

  • Page 26 Advertisements
    • 710 26 VUW WALLENIUS WILHELMSEN website: http://www.2wglobal.com VESSB VOT »JW IK "TutT" MOW "MU SAV Ml ~"0Bf~ W( iW 101 TAUSMAN AFSOO 3J9hw i« I 15/03 17/04 21/04 25/04 24/04 27/04 TARONGA AfSO7 3201 ms 6.25 M 31/03 22/04 30/04 04/05 01/05 07/05 10/05 TAPIOU tf SOB 4001 mm OJM 00/04 04/05
      710 words
    • 537 26 Vissa VOY SM P6U JSSSB m 91 JD -&t Bffi- ft/S MC BANDA Htm 04/03 >7/13 """m tSM 01/11 LUU PAC BANDA 1421N 00/03 01/03 PAC BANDA 1422* 09/03 10/03 PAC BANDA 1423* 11/03 11/03 rasa Jffl sft MO PAC BANDA 1424* 12/03 13/03 j{g g® g^g— PAC PANDA *****1
      537 words
    • 548 26 BSA a. !lsfssffSß B^^B r MYANMA BjH FIVE STAR UNE (MyaMar National Use) loading for Ymgoi VESSa VOT SIM PRL PEN PGO PAGAN 341W SID HPA-AN 330W SIB IN MALAYSIA: BOUSTEAO SHIPPING AGENCIES RIR/PKL 03-300 SUM PEN: 04-*****15 ACCEPTIWS CONVENTIONAL C6O HKG SM KG SM PGU PH KUC NAPIi 104
      548 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 6469 27 ETA FTA Mwlkm VmmI Voyage TalapNtna HA ITA A*«rtk«r V—I V«yy niijilmn cm rwfn Mm* iMM NlMtbV NNMMT SMI DlCfl NMM Mi WMf MW 31/03 17/04 DHmas DELMAS ANGO 004W *****344 To ABIDJAN (ABJ) 2003 Cote D'lvoire 13/04 29/04 Mm* LAPALOMA 312W *****J44 16/03
      6,469 words

  • PROPERTY
    • 525 28 From this month the city will levy 5.5% capital gains tax on the sale of real estate held for less than a year, says report Reuters [SHANGHAI] Shanghai has become China's first city to slap a tax on gains made on the sale of
      Reuters; AP  -  525 words
    • 619 28 Beijing will restrict supply, boost farm protection to keep inflation in check Bloomberg CHINA said it will tighten curbs on land use this year, seeking to prevent a rebound in inflation and fixed-asset investment as Premier Wen Jiabao tries to slow growth
      Bloomberg  -  619 words
    • 473 29  -  jURA seeks to raise private-sector role in developing local Architecture with co-funding scheme By ARTHUR SIM Singapore government is setting aside $3 miliron to encourage a bigger *ole by the private sector in promoting good urban design and architecture here. The move, welcomed
      473 words
    • 401 29  -  By ALEXANDRA HO EVEN if the flats that HDB build are cast in stone, National Development Minister Mah Bow Tan stresses that its rules and regulations are not. This was handily demonstrated by a slew of policy changes that the minister announced in Parliament during
      401 words
    • 360 29 HDB retailers hurting as a result of operating in areas where there are too many shops or where business is poor could soon get some relief. National Development Minister Mah Bow Tan yesterday unveiled details of the Restructuring Programme for Shops (RPS) in Parliament.
      FILE PHOTO  -  360 words
    • 586 30  -  The URA is also granting additional floor space to encourage developers to extend and link up buildings, reports KALPANA RASHIWALA KALPANA RASHIWALA THE Urban Redevelopment Authority (URA) hopes to encourage more building owners ill Singapore's premier shopping district to extend their mall facades outwards a la
      FILE PHOTO  -  586 words
  • Page 28 Advertisements
    • 1887 28 No t ices M THE MATTER OF THE COMPANIES ACT (CHAPTER 90) AND IN THE MATTER OF SAW LEONG SAN t SONS PTE. LTD. (In Members' Voluntary Liquidation) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 101-A Upper Cross Street *11-22 People's Par* Centre.
      1,887 words
    • 398 28 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF FRESH CREATIONS PTE LTD (IN MEMBERS' VOLUNTARY WINDING UP) Co. Reg. No. 2MMM97K NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the members of the abovenamed Company duly convened and held at 30 Kwong Avenue
      398 words

  • Page 29 Advertisements
    • 192 29 ncritftfe tattle KB fc IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF BLUE MARX (S) PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that the FINAL MEETING oi the Company and creditors of the abovenamed company will be
      192 words
    • 124 29 LA: 79,350 sf I /-B 1 toMvii to 1 I gpr 2.1 18 storeys (approx) //A. Upper Paya Lebar MRT Maris Stella, Cedar Girls CEDAR Y%\ \"fc\ Unobstructed views 4 *£c X tz I ~~Z UPP paya\£> Tender Close B lebarmrt^^ 16 Mar '05 at 3pm Sole Marketing Agent HB&ra
      124 words
    • 232 29 Presenting the Exhibition Launch of KIARAVILLE at Mont' Kiara, KL '•<& IBS9H Following our successful preview, we are JSSjH proud to now present the Exhibition Launch of KL's hottest property investment! Freehold luxury condominium KL's most desirable residential address Panoramic view of KL city and Petronas Tower Spacious apartments with
      232 words

  • Page 30 Advertisements
    • 287 30 <*%•!&* >* jjow. ■i,*' p® e» *v w™ r>^^|HH 3^' .V, <V" ;V Q r r Embrace the unique opportunity to shape the skyline of Sentosa Cove, Singapore's only oceanfront residential community. W v •rH "j*"'-' PlSantosa Cow if tha spectacular cantraplaca of Singapore s billion-dollar I WSBtSSmSSSSSm P lan
      287 words
    • 16 30 Recruit from a wider audience Call 1800 289 8822 or email ncruit@sph.com.sg for your recruitment solutions
      16 words