The Business Times, 10 March 2005

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Total Pages: 30
1 30 The Business Times
  • 15 1 THE BUSINESS TIMES Thursday March 10,2005 SINGAPORE 85 cents online at http://business-times.asialxom.sg MICA (P) 089AB/2005
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  • 599 1  -  Investors get fly time, earn charter income By VEN SREENIVASAN [SINGAPORE] A group of businessmen and corporations from Singapore, Malaysia and Indonesia are joining forces to set up the region's first trans-national executive jet company. Through a concept known as "fractional jet ownership," the investors
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  • 136 1 sn 2.***** (+23.66) ST INDEX FUTURES 2.175.00 (+7.00) siMsa 258*1 (+3.11) SIMSCI FUTURES ***** (+2.40) MARKETS Wednesday Change KLSECOMP 903.62 >612 NIKKEI 225 11.966.69 >79.78 HANG SENG 13.941.47 >59.76 SET INDEX 722.58 -0.02 JAKARTA COMP 1.116JOS >2.601 MANILA COMP 2,157.14 +8.08 SEOUL COMP 1.008.79 48.51 SHENZHEN B 276.84
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  • 793 1  -  Far East's project on NatWest site slated for completion in 2009 By KALPANA RASHIWALA [SINGAPORE] Far East Organization expects to launch a project with slightly over 300 apartments in the Central Business District early next year. At 43 storeys,
    ARTHUR LEE  -  793 words
  • Page 1 Advertisements
    • 38 1 flßb BizfT yHal Samsung Asia's 3G strategy J§|| 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
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    • 27 1 COMPANIES Singßost defends ACCSdeal PG4 'f. ti. 1 a' ,e fJF TWORK-READY COUNTRY RANKING Q nnrp U i V. beats US to take top spot PG 2
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    • 18 1 HLiuccTiinrrc 1 invuimcrao Tips on how to value your property PG 30 < KjwL .Jh £M 11l 8"*****1 *****4
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    • 34 1 CEO'S NOTEBOOK Andy Zupsic runner, K J poet and chief of Microsoft S'pore re 9 |Kp^| «=»o u^|ma^e r im r i LUC MANHIAUUH OI HAUM Horiogirii LOUIS thvsst Chopa^d Watch of itie year
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  • TOP STORIES
    • 648 2  -  It clinches top spot on index measuring ability to exploit infocomm opportunities By RAJU CHELLAM [SINGAPORE] Singapore has been named the most network-ready country in the world, toppling the United States from the top spot it had occupied for three years. And the man
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    • 662 2 Probe into Cyberjaya firm hots up with seizure THE criminal investigation of InventQjaya, or IQJ a private research and development company funded by the Malaysian government —has taken another twist In an unpnbticised move in late February, the Malaysian police has effectively putthe company into r v receivership
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    • 167 2 [SINGAPORE] So who are Singapore's top corporate donors? According to the survey by the National Volunteer Philanthropy Centre (NVPC), Singapore Press Holdings (SPH) tops the list, followed by NTUC Fair Price, Singapore T JjJSBC, and DBS Bank. The survey, which Mased its results on
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    • 550 2  -  Survey shows they lag counterparts in US, UK, Canada Reports by DANIEL BUENAS [SINGAP^B^SMMtiBh companlfg'ulf Uglllttf when it comes to giving money to charity, a survey commissioned by the National Volunteer Philanthropy Centre (NVPC) has found. According to the survey of 2,450
      ST FILE PHOTO; Source: NV  -  550 words
    • 611 3  -  By CHEN HUIIFEN [SINGAPORE] Singapore Power is selling its electricity generating and retailing assets in Australia to a Hong Kong company for A 52.128 billion (552.7 billion), but says it \yill continue to eye opportunities Down Under. "We remain a long-term
      611 words
    • 515 3  -  Police invoke Anti-Money Laundering Act to put InventQjaya into receivership By S JAYASANKARAN in Kuala Lumpur THE criminal investigation of InventQjaya, or IQJ a private research and development company funded by the Malaysian government has taken another twist. In an unpublicised move
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  • COMPANY NEWS
    • 649 4  -  Diamond industry player lodges prospectus, plans to sell 62.2m shares By MICHELLE QUAH THIS could possibly rank as Singapore's most exotic listing this year: an Israeli diamond industry player, Sarin Technologies, has signalled its intention of selling its shares here. If
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    • 390 4  -  By ANGELA TAN SINGAPORE Telecommunications' 45.05 per cent stake in Globe Telecom Inc, Philippines' second-largest phone company, is unlikely to be diluted much by the Philippine telco's share capital reduction, SingTel's chief financial officer Chua Sock Koong said yesterday. Late yesterday, Globe
      390 words
    • 591 4  -  By JOYCE KOH SINGAPORE Post yesterday defended its planned investment in troubled Accord Customer Care Solutions (ACCS). saying the deal is in line with its strategy of building up its core businesses and it will staunchly maintain its attractive dividend policy. The announcement yesterday
      591 words
    • 620 4  -  HOCK LOCK SIEW By ANGELA TAN Substantial shareholders have occasionally taken on a company's management in Singapore before. Rarely, though, have minority shareholders done so. Yet, in a bold move last Friday, a group of about 100 minority shareholders of Overseas
      620 words
    • 399 5  -  Company's profit warning coincided with revelations, panicking investors By JOYCE KOH SCANDALS, scandals, everywhere, and it's not just the affected companies that are hit by the investor sentiment fallout. So concerned was Excelpoint Technology about its slipping share price that yesterday
      399 words
    • 306 5  -  By ARTHUR SIM THREE-AND-A HALF years after the Sept 11, 2001 terrorist attacks destroyed the World Trade Center and severely damaged the nearby Millenium Hilton in New York, Millennium Copthorne (M&C) Hotels has agreed on the total settlement of US$75 million to be
      BLOOMBERG  -  306 words
    • 335 5  -  By WONG WEI KONG SUMITOMO Mitsui Banking Corp (SMBC), a creditor of China Aviation Oil (CAO), said yesterday it intends to press its claims against the company, notwithstanding a petition filed by another creditor to put CAO under judicial management. SMBC had sued
      335 words
    • 757 7  -  Move comes just 2 days after it gains toehold in Alliance Bank via MPlant By PAULINE NG in Kuala Lumpur DUXTON Investments, a unit of Singapore investment company Temasek Holdings, has more than doubled its stake in Malaysian Plantations (MPlant) only two days after
      757 words
    • 325 7 Bloomberg SHARES in Stats ChipPac rose as much as 5.8 per cent yesterday after the company said it will offer a new testing process and chipmaker Xilinx raised its sales forecast, boosting hopes of a recovery in the semiconductor industry. Stats ChipPac, the world's third-largest
      Bloomberg; Source: Bloomberg  -  325 words
    • COMPANY BRIEFS
      • 121 7 DBS Bank and leading Japanese golf club manufacturer, Honma Golf, will partner the Singapore Golf Association to promote golf among students here. Honma will donate 500 sets of golf clubs, retailing between $10,000 and $28,000, to schools. DBS will, over the next
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      • 77 7 CHUAN Hup Holdings yesterday said its subsidiary, Ventrade (Asia) Pte Ltd, has sold 7,125,000 shares, or 13.38 per cent, of the issued share capital of Cedar Woods Properties Limited. Ventrade received A$16,387,500 (S$21 million) in cash for the sale, which reduced its stake
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      • 58 7 CAPITALAND has set up an indirect wholly owned subsidiary, Hua Lei Holdings. The subsidiary, an investment holding company, has an authorised capital of $100,000. Hua Lei is directly owned by CapitaLand China Income Fund, a private investment trust owned entirely by CapitaLand Commercial and Integrated
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      • 40 7 KEPPEL Corporation yesterday said its wholly owned subsidiary, Keppel Integrated Engineering, has completed the sale of 3,825,000 shares in its associated company, MKE Engineering Sdn Bhd, which is no longer an associated company ofKIE.
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      • 48 7 ASIAPHARM Group's subsidiary, Asiapharm Investments, has paid about $2.5 million for the remaining 0.92 per cent of Shandong Luye Pharmaceuticals that it did not own. The purchase of the 2,0075,700 shares in Shandong Luye Pharmaceutical makes it a wholly owned subsidiary of the group.
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      • 47 7 EUROPTRONIC Group has promoted its financial controller Tay Lay See to chief financial officer. Mr Tay. 31, has worked as an auditor in Deloitte Touche and Ernst Young. He will be responsible for the group's accounting, finance, corporate finance and investor relations.
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      • 62 7 CREATIVE Technology yesterday announced a newcomer to its range of products, Sound Blaster Live! ADVANCED MB audio. This is a simple online upgrade that allows personal computer users with motherboard audio produced by Analog Devices to upgrade to Sound Blaster audio quality. It is available now
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    • 490 7  -  By SIOW LI SEN HAVING targeted the mass consumer segment last year, Oversea-Chinese Banking Corp is now training its sights on the affluent market. It aims to double assets under management and triple this customer base in three years. OCBC will have its work
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  • Page 5 Advertisements
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  • SINGAPORE MARKETS
    • 521 6  -  STOCKS Market continues to favour blue chips with further gains for benchmark STI, but second-tier stocks stuck in slide R SIVANITHY Senior Correspondent LOCAL traders yesterday were treated to a fine example of how popular the "buy the winners, sell the downtrenders" strategy is in the
      Source: Bloomberg  -  521 words
    • Article, Illustration
      921 6  -  Compiled by R SIVANITHY City Developments March 9 dose: $45.70 (+l5 cents) JP MORGAN. March 8 WE detect a shift in the company's strategic perspective in recent meetings with management At the FY Dec 04 results briefing last week, CDL's executive chairman Kwek Leng Beng maintained that the
      Source: Bloomberg  -  921 words
    • Article, Illustration
      440 6 OTHER SINGAPORE INDICES Mar 9 VALUE CLOSE BT OB/OS -170.00 +139.00 BT CADI -*****.00 +14.00 BT 10-day MA -*****.00 -17.00 All-SG Equities 563.99 +5.40 SG Equities Elect 143.30 +0.53 SG Equities Fin 1640.28 +17.38 SG Equities Prop 565.54 +8.50 SIMSCI 258.81 +3.11 SiMSCI Futures 258.30 +2.40 MOST ACTIVE STOCKS VOLUME
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    • 511 6  -  CURRENCIES LARRY WEE Senior Correspondent ANOTHER surge in oil prices punished the US dollar mercilessly in overnight trading. and brought several important roundnumber targets into the cross-hairs of currency traders. As cold weather conditions forced US oil prices up against the US$55 per
      Source: Reuters  -  511 words
    • TRADES TO WATCH
      • 70 6 TEMASEK Holdings through a series of transactions involving its related companies Seletar Investments, SembCorp Industries, PSA International, Singapore Technologies Aerospace, Singapore Technologies Marine and DBS Group increased its deemed holdings in Cosco Corporation to 10.72 per cent on Monday. Its stake in the
        70 words
      • 120 6 FOOD manufacturer and distributor QAF has continued to raise its deemed interest in PSC Corporation, the food, healthcare and education group. Through a series of open market purchases yesterday by its wholly owned subsidiary, Pemscorp, totalling 17.9 million shares, QAF upped its deemed
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      • 73 6 CHARTERED Asset Management bought in the open market last Friday 683,000 shares of CSE Global. This raised its deemed interest in the global system integrator to 6.18 per cent, up from 5.97 per cent. No information was given on the prices paid. The registered
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      • 70 6 PRUDENTIAL Asset Management has reduced its deemed holdings in mobile phone operator Mobile One, selling in the open market a total of 1.1 million shares in the company last Friday. No information was given on the prices involved. The sales cut Prudential's deemed stake
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      • 46 6  -  Compiled by CHUANG PECK MING ABERDEEN Asset Management Asia paid $33,020 in the open market on Tuesday for 5,000 Robinson shares, upping its deemed stake in the department store group to 9.4278 per cent. Robinson's shares were last traded at $6.65.
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  • Page 7 Advertisements
    • 22 7 Recruit the one you want for any position you have Call WOO 289 8822 or email recruit@sph. comsg for your recruitment solutions
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    • 520 7 Keeping on Top of Financial Reporting if 2004 as seen ma j° r Ganges to accounting standards and financial reporting framework worldwide. These changes will significantly affect the way companies account for and report 4 on the results and state of affairs of their operations. This seminar will focus on
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  • BLUE CHIPS
    • 922 8  -  But longer-term outlook remains positive due to the company's re-focus, reports WONG WEI KONG WONG WEI KONG VENTURE Corporation, Singapore's biggest contract manufacturer and a key tech stock, is having to shift gear. And the question now is how long it will take to pick
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    • 4123 8 uPGwdsiw 1.0449» UP G'teed 7 0/2 1.*****/ UP G'teed Fund 5.00 1.*****/ Aanro Asset Mgt (S para) UP Glsed Fund 7.0/3 *****V Star Europe E»y!** 0.KJ Upsweq Ftmd 50/1 0.*****/ Star Ei*ope Bond 1J» Upswra Fund 7.0/1 0.*****/ StarEwopeBal 1.14* UPSWVwj FUND5.0/2/90% 0.*****/ Star Asian Tqe E(*y 0.9W UPSWING FUND
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  • Page 8 Advertisements
    • 32 8 DIT Europazins Best Bond Europe Fund overlyr,3yrs and syrs category* rated AA by Standard Poor's. Allianz (m) Dresdner Asset Management Source: The Edge-Lipper Singapore Funds Awards 2004 company regn. no 1 *****169Z
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  • CEO'S NOTEBOOK
    • 1154 9  -  As a young boy, he delivered papers and wrote rhymes. Now, he runs religiously—and pens more poetry. RAJU CHELLAM meets Microsoft S'pore's MD RAJU CHELLAM THERE are two things that strike you when you meet Andy Zupsic, managing director of Microsoft Singapore: One, he's slim,
      CHRIS LOH  -  1,154 words
    • 337 9 IN EARLY 1990, software giant Microsoft Corp set up its first Singapore office at the Westin Hotel with one representative from Redmond, Rick Tsang. In May 1990, Mr Tsang introduced Windows 3.0 to Singapore. Five years later, Microsoft's Singapore operations moved to the new
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  • Page 9 Advertisements
    • 262 9 I Fujitsu recommends Microsoft® Windows® XP Professional. The Lifeßook S7OlO offers maximum sophistication in an ultra-portable form factor. Mobile professionals can enjoy hassle-free wireless connection at hotspots anytime, anywhere. Economically designed with a full-sized keyboard and 14" XGA display, demanding tasks can now be managed effectively and efficiently. Security-conscious professionals
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    • 10 9 This trim b brought to you by: LIFE 800 Fufrrsu
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  • SINGAPORE NEWS
    • 556 10  -  Brokerage firm asking court to keep ex-employees from working for competitor By KAREN HO JUST as Prebon Yamane (Singapore) fought a battle yesterday to try to enforce the contracts of 52 brokers who walked out to join rival BGC
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    • 592 10  -  HDD giant reaffirms intention to retain presence in S'pore By AMIT ROY CHOUDHURY THE world's second largest disk drive maker, Maxtor, said yesterday that it will continue to build strong technical capabilities in Singapore and leverage on the highly skilled workforce available
      FILE PHOTO  -  592 words
    • 607 10  -  By CHUANG PECK MING SINGAPORE is seeking to resolve through the good offices of the secretariat of the Basel Convention (SBC) a spat with Indonesia over the export to Batam of what Indonesian authorities claim to be toxic waste from
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    • 619 10  -  IN PARLIAMENT Aim is to give students greater opportunities, flexibility By DANIEL BUENAS HEALTH and education were the topics of yesterday's parliamentary budget debate, and Education Minister Tharman Shanmugaratnam revealed that the government would make a host of changes to schools to provide
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    • 437 10  -  By RONNIE LIM ISLAND Power is "more confident than ever" about finally proceeding with its US$9OO million generating station here, following the government's move to open up the gas market. "The government has been assuring us that it is serious about open
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  • FOCUS: SERVICES
    • 834 11  -  BUSINESS PROCESS OUTSOURCING Uptake in Asia set to spread across wide range of processes, with S'pore gunning for a piece of the action, RAJU CHELLAM reports RAJU CHELLAM Infotech outsourcing started the trend, with large companies and government undertakings in the developed world doling out their
      FILE PHOTO  -  834 words
    • 385 11 US market put at US$20b; Indian companies' share is US$40m and growing WHAT kind of companies occupy the medical transcription outsourcing (MTO) space? One such company is Isource India Transcripts, a Chennaibased Indian BPO firm. It charges US$lO per hour of typing, proof-read-ing and
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  • Page 11 Advertisements
    • 1119 11 CEI CONTRACT MANUFACTURING UMITED M M Company Registration No: *****5114H (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Sixth Annual General Meeting of CEI Contract Manufacturing Limited ("the Company") will be held at Raffles City Convention Centre, Moor Room (Level 4),
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  • ECONOMY WATCH
    • 671 12 Central bank is mulling possibility of linking unit to basket of currencies instead Bloomberg, AFP, Reuters [BEIJING] China's central bank is studying the possibility of dropping the yuan's decade-old peg to the US dollar in favour of a link to a basket of currencies,
      Bloomberg,; AFP,; Reuters; REUTERS  -  671 words
    • 555 12 Move expected, but questions about size of hikes remain Reuters [JAKARTA] Indonesia's central bank will gradually raise interest rates through 2005 to keep inflation in check, it said yesterday. The remarks are the most explicit from the central bank about the outlook
      Reuters; AFP  -  555 words
    • 291 12 AFP Bloomberg, [BANGKOK] Thai consumer confidence fell to a twoyear low in February because fuel prices increased and violence escalated in the nation's southern provinces, the University of the Thai Chamber of Commerce said. An index measuring consumers' confidence in the economy dropped
      AFP; Bloomberg,  -  291 words
    • 393 12 AFP [SYDNEY] Australian consumer sentiment recorded its largest slump in more than 30 years this month as rising interest rates spooked households grown accustomed to economic good times, figures released yesterday showed. After months hovering near record highs, the Westpac-Melbourne Institute consumer sentiment index
      AFP  -  393 words
    • 271 12 Bloomberg [TOKYO] Japan's index of leading economic indicators was above 50 per cent for the first time in five months in January, signalling that the nation's economy, the world's second-largest, is emerging from recession. The index, which measures indicators such as job
      Bloomberg  -  271 words
    • 476 12 A third of largest US firms there may cut presence in '05 [Berlin] High costs and a rigid labour market are driving US manufacturers away from Germany in spite of the government's efforts to attract foreign investment, says a Financial Times (FT) report citing
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  • MALAYSIA/INDONESIA
    • 419 13 KL may refer the matter to the ICJ if negotiations fail between them Bloomberg, Reuters [LONDON] Malaysia said yesterday Kuala Lumpur may refer a dispute with Indonesia over a sea boundary to the International Court of Justice (ICJ) if negotiations between the two
      Bloomberg,; Reuters  -  419 words
    • 334 13 [KUALA LUMPUR] Berjaya Group Bhd's subsidiary Beijaya Books Sdn Bhd will invest up to about RM4O million (Ssl7 million) to set up two Borders bookstores this year, beginning with the opening of the world's largest at Berjaya Times Square. Kuala Lumpur on
      334 words
    • 144 13 Bloomberg wesi island, Environment Minister Rachmat Witoelar told reporters in Jakarta. "We are still calculating how much we will seek it's about US$lOO million," he said. "We are assessing tiie damage to the environment to the water, sewer, beach, as well as damage to
      Bloomberg  -  144 words
    • 322 13 AFP [JAKARTA] The head of Indonesia's highest legislative body has urged President Susilo Bambang Yudhoyono to review steep fuel price increases amid continuing public protests and strikes, a report said yesterday. Chairman of the People's Consultative Assembly Hidayat Nurwahid was quoted by
      AFP  -  322 words
    • 405 13 Thai CP Group is partner in start-up PT Cyber Access Reuters [HONG KONG] Hutchison Telecommunications International Ltd (HTIL), the emerging markets phone arm of conglomerate Hutchison Whampoa Ltd, said yesterday it would pay US$l2O million for a 60 per cent stake in
      Reuters  -  405 words
    • 2271 13 VOl FSBM 1.12 -0.03 93 Marl Ml *h COOP FTEC Resources. .0* unch 325 Furqan Bus. Org .0.34 0.02 1365 AIM Realty 1.55 unch 16 Gadang 1.42 -0.04 1377 Abric 0.44 -0.01 105 Gamuda .520 -0.0S 313 ACP Industries 1.10 0.04 10 General Corp .0.46 undi
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    • 421 13 [KUALA LUMPUR] Golden Hope Plantations Bhd has received minority shareholders' support to sell its property arm Negara Properties Bhd to Island Peninsular Bhd (I&P), the Malaysian Business Times reported yesterday. The sale, approved at an extraordinary general meeting (EGM) yesterday, will allow Golden Hope
      421 words

  • GREATER CHINA/INDIA
    • 379 14 Threat comes after failure to secure loan guarantee from US Ex-Im bank [HONG KONG] Semiconductor Manufacturing International (SMIC), China's largest maker of computer chips, has threatened to buy billions of dollars of chip-making equipment from Japan instead of the United States after
      379 words
    • 512 14 Reuters [SHANGHAI! China s top two mobile phone operators are set to launch promotions targeting lowspending users, ending a half-year pause in a price war that has sapped profit margins, two senior telecoms executives said. China Mobile (Hong Kong) and
      Reuters  -  512 words
    • 200 14 AFP [BEIJING] China said yesterday that it plans to amend its securities, joint venture and auditing laws, and introduce a new labour contract law as part of more than a dozen legislative initiatives scheduled this year. China's top lawmaker Wu Bangguo told
      AFP  -  200 words
    • 325 14 Reuters [BEIJING] China Construction Bank, one of the mainland's dominant state lenders, is eyeing the third quarter for a huge initial public offering (IPO), a source familiar with the deal said yesterday. The company is expected to court foreign strategic investors ahead of
      Reuters  -  325 words
    • 550 14 Reuters [HONG KONG] Hong Kong leader Tung Chee-hwa is likely to announce his resignation this afternoon, just before leaving for Beijing, sources said. *Mr Tung, 67, was expected to cite poor health and stress for his decision to quit after nearly eight years in
      Reuters; REUTERS  -  550 words
    • 440 14 Funds will help firm take advantage of growing economy Bloomberg [NEW DELHI] Bharti TeleVentures Ltd, in which Sing Tel has a 28.5 per cent stake, will raise spending for the next fiscal year to US$B5O million to expand its network in more areas
      Bloomberg  -  440 words
    • 151 14 [BEIJING] Tens of thousands of officials from China Construction Bank (CCB) and Bank of China (BOC) have been blamed for the misappropriation of funds and the issuing of unauthorised loans as the two state lenders restructure in preparation for public listings this year, the
      151 words
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  • ASIA-PACIFIC/WORLD
    • 483 15 Global banks often take over Asian rivals to blunt competition [HONGKONG] Global banks face increasing competition from domestic rivals in Asia, with more and more companies preferring local lenders to groups such as HSBC and Citigroup, the Financial Times said, citing a research by
      AFP  -  483 words
    • 731 15  -  ASIA INSIGHT Asean+3 will breathe new life into 'dead' Asian Monetary Fund proposal when they meet on the sidelines of the ADB's annual meeting in May ANTHONY ROWLEY Tokyo Correspondent NEXT week will mark an anniversary of sorts. It will be one
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    • 409 15 Canberra is looking to limit fees paid to bankers in the sale Bloomberg [SYDNEY] The Australian government will consider a Google-style Internet share tuction to sell part of its billion (Ss4s billion) stale in Telstra Corp, the nation's largest phone company.
      Bloomberg  -  409 words
    • 209 15 Bloomberg [TOKYO] Eisuke Sakakibara. the former Japanese currency official known as "Mr Yen." said he will quit a one-month-old advisory role at Lehman Brothers Holdings, because he can't always agree with the bank. "I started to talk with Lehman Brothers about my resignation this morning,"
      Bloomberg  -  209 words
    • 414 15 Bloomberg [LONDON] Oil major BP Pic made US$l.99 billion trading oil, gas and power last year, 55 per cent more than in 2003, as the biggest gain in demand in three decades sent crude prices to a record. "We've always felt BP to
      Bloomberg  -  414 words
    • 307 15 Cox News Service [ATLANTA] Coca-Cola's former president received millions of dollars when he left the company but not nearly as much as once predicted. Steve Heyer, who resigned after losing a bid to become chairman and CEO in 2004, departed with payouts that
      Cox News Service  -  307 words
    • WORLD WATCH
      • 103 15 Reuters [WASHINGTON] Embattled mortgage finance giant Fannie Mae agreed under pressure from its federal regulator on Tuesday to split the roles of chief executive and board chairman at the company to improve governance, the company and its oversight agency said. Fannie Mae's regulator, the Office
        Reuters  -  103 words
      • 139 15 NYT [SAN FRANCISCO] Oracle announced on Tuesday it would make a cash offer to purchase software maker Retek, spurring a possible bidding war with SAP, its main rival in the corporate software market. Oracle's bid of US$9 a share, or US$525 million, bests SAP's bid
        NYT  -  139 words
      • 144 15 Reuters [LONDON] Britain's biggest insurer Aviva Pic said it had agreed to buy UK motor services company RAC for about £1.1 billion (553.4 billion) to boost its booming British general insurance business. It will pay 462 Vi pence cash and 0.7154 new Aviva shares for
        Reuters  -  144 words
      • 101 15 Bloomberg [NEW YORK] EBay Inc. the largest Internet marketplace, has started classifieds Web sites in six countries, including Germany and Japan, building on investments in local advertising sites. The sites, operating under the name Kijiji, opened on Feb 28 in more than 50 cities. They
        Bloomberg  -  101 words
      • 86 15 AFP [FRANKFURT] Deutsche Boerse does not rule out rejoining the race to buy the London Stock Exchange, even if it officially withdrew its takeover offer for the LSE earlier this week, the German stock market operator's supervisory board chief Rolf Breuer said yesterday. "1
        AFP  -  86 words

  • AVIATION
    • 532 16 Its 60% jump in 2004 net powered by higher plane sales, stronger space business Reuters [MUNICH] Airbus parent, EADS, posted an expected 60 per cent jump in 2004 net profit, powered by higher Airbus plane deliveries and a stronger space business. Europe's
      Reuters; FILE PHOTO  -  532 words
    • 192 16 Reuters [LONDON] Britain's biggest airport operator BAA Pic said passenger traffic in February rose 0.8 per cent as long-haul travel improved and cheap fares drove growth in Europe. The result was distorted because February had one less day in 2005 compared to the leap
      Reuters  -  192 words
    • 437 16 Reuters [HONG KONG] Hong Kong's main airline, Cathay Pacific Airways, yesterday posted a stronger-than-expected 4.3 per cent increase in sec-ond-half earnings, as fuel expenses came in lower than many analysts had anticipated. The world's sixth-larg-est airline by market value, posted net profit of
      Reuters; AFP  -  437 words
    • 426 16 Reuters [MEXICO CITY] The financial crisis at major US airlines could force them out of the bidding for Mexico's top carriers, and European or Asian airlines could swoop in with their own offers, the executive leading the sale said. Andres Conesa,
      Reuters  -  426 words
    • 343 16 Bloomberg [MELBOURNE] Rob Sherrard, deputy chief executive and co-founder of Virgin Blue Holdings Ltd, Australia's second-largest carrier, quit for "purely personal" reasons, die airline said. Mr Sherrard has been handing over his responsibilities to chief operating officer Andrew David since his appointment in
      Bloomberg  -  343 words
    • 1857 16 CITY RJCWT ETA HJCMT ETC) Dmpaurhli SQ141 1145 SQ142 0935 MkMl LH9771 1«55 AH088 2250 1725 GA841 1825 ***** 1855 Mi n SQ323 0M5 «J38 2330 SQ435 0550 SQ436 2030 KL837 1535 5Q324 2345 °!»5L QW638 1130 QW639 0635 MM EK405 0105 EK404 1500 SQ427 0715
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  • SHIPPING
    • 289 17 SGX '000 Mar9 S> Vol CH Offshore 0.37 unch 1105 ChuanHup 0.72 -0.01 1738 Cosco Corporation 1.59 0.02 5975 CWT Distribution.- 0.68 unch 14 Ezra Hldgs 1.05 unch 45 Freight Links 0 09 unch 90 Grand Banks Yacht 1.13 0.01 56 Jaya Holdings 1.07 unch 1500 K1 Venture
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    • 556 17  -  Now in 8th spot, it eyes 5th spot by the year-end By DONALD URQUHART [SINGAPORE] With Panama firmly in its sights, the Marshall Islands ship registry is aiming to leapfrog ahead of Singapore to claim fifth spot in the ranks of global ship
      556 words
    • 422 17  -  By AL LABITA in Manila THE Philippines is putting up a 100hectare maritime industrial park to woo foreign and local companies engaged in shipbuilding, conversion, repair and other related industries, says the staterun Maritime Industry Authority (Marina). In a policy paper, the agency said
      422 words
    • 209 17 AFP [KUALA LUMPUR] Two South-east Asian seafarers, kidnapped last month in the Malacca Strait by armed pirates believed to be Indonesians, have been freed, officials said yesterday. "The two a Malaysian captain and Indonesian chief officer —were released on Tuesday," Noel Choong,
      AFP  -  209 words
  • Page 17 Advertisements
    • 514 17 MarMaae Association u 9 7th Annual Norway Ship Finance Foram Oslo, Norway. >e Parsons, > WU Contact Lorraine Parsons Tat: +1203 406 0106, *****160 Ext 17 .A Fax: +1 *****6 0110, Email: Ipersons^narinamoney.com S®« renceaOcmaconneetcom ft 14-ti TOC2MS Earope, Antwerp, Belgium I tqV 1 fiihlblrtaa Contact Tel:+44 20 7017 5000,
      514 words

  • EDITORIAL & OPINION
    • 509 18 EDITORIAL AS international accolades go, the latest for Singapore No 1 in the World Economic Forum's (WEF) Networked Readiness Index (NRI) for 2004 appears to be one of those meant to be filed under "S" for "Specialty Awards". But take a closer look the implications
      509 words
    • 780 18  -  THE BOTTOM LINE WILLIAM PESEK JR Bloomberg WOW, he's a foreigner (a gaijin. in Japanese). That's the most significant thing most observers took from Sony Corp's move to name US citizen Howard Stringer chief executive. Yet it may be more significant for
      Bloomberg  -  780 words
    • 873 18  -  Private accounts for US Social Security could threaten the effectiveness of the market ROBERT SAMUELSON The Washington Post Writers Group LET'S suppose that the US Congress approves President George W Bush's "personal accounts" for Social Security. The Social Security system would then become
      The Washington Post Writers Group; AFP  -  873 words
    • 1220 19  -  Massive Asian presence at Hannover's Cebit underlines wealthy Europe's importance to the region's manufacturers By KEVIN J O'BRIEN International Herald Tribune WHY would a Taiwanese electronics maker spend millions of euros to sponsor European professional soccer's top play-off? For BenQ, a maker of liquid-crystal display
      International Herald Tribune; AFP  -  1,220 words
    • 217 19  -  Low Seow Meng Singapore AS a minority shareholder, I follow the CAO saga lyFirst, let me put it in perspective. Bankers, oil traders/brokers, sundry creditors, big, average and small shareholders all were taken in by the glowing reports on CAO. It was
      217 words
    • 716 19  -  NICHOLAS D KRISTOF NYT BEFORE the "Rev Dr" Matt Hale, the white racist leader, was arrested for seeking the murder of a federal judge, and long before the judge returned home last week to find her husband and mother murdered, I had lunch with him.
      NYT  -  716 words
    • 502 19  -  LETTERS TO THE EDITOR Ee Teck Siew Singapore THE controversies surrounding the insurance industry have led to a total discrediting of the profession. First, it was the criti-cal-year saga, then policy churning, and, most recently, the investment-linked policies (ILP) conundrum. All fingers point to
      502 words

  • Page 19 Miscellaneous
    • 321 19 CRYPTIC CROSSWORD for actor to on 7 Use your loaf? This will give you the edge BB 10 Morally repulsive group of sol- HH diers including 51 from Rome I I I H" I 1 Pictures doctor looks at when HR SI BP the wife's gone (6) 12 You'll find
      321 words

  • 11038 20 STRAITS TIMES INDEX STOCKS Stodi mm m Oom Oiaag* Stock mm# m Oam Omiii Allgreen 50c 0 30 1 170 +0.010 NOt 2.78 4.200 +0.120 BIL Intt US20c 0 49 1.130 *0010 OCBC 9 60 13.900 +0100 CapitaLand 1.57 2 520 +0010 Partway Hldgs 25c 0.72 1 680
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  • 5823 21 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES talkKjICWT nit hi USJ dy y* \&f y* &f %y» Y«f lnd«« Chang» Q-«-»q« C>v»oy» Cftwy Chtny Wfertd Indec 875.0 <13 2 6 0.2 14 02 2-2 I EAFE Preftrwaty 807 5 -0 4 45 01 2.7 04 IS Europe Prefamnary ***** 0.5
    5,823 words
  • Page 21 Advertisements

  • Page 22 Advertisements
    • 1480 22 IMPORT NORTH AMERICA |j~|| AUSTRALIA/NEW ZEALAND SUTCT Btft> 11UE EXPRESS (SSX) «aam% Vissa VOY IG4 r mm T mm T «6 1 "I 'I I 'I F—l i 5 MJ 57S i 175 wS M OOCI HAMOURG 09*00 02/03 20/03 21/03 MH EMBLEM 14N 24/03 21/03 02/03 04/03 01/03 13/03
      1,480 words
    • 817 22 mn*/i a—mrm 11 i* 11 B .I vßsa/vor umyt) hbchhw m KOj La sw jkt STMmVWnjK 07/05 15 JJ 23/03 14/03 31/03 03/ M 05/04 STIAITS VEMTUtE 01/DS IS JJ 07/04 0»/04 |SIUfTS fflfTUg W/05 I IS I 3? l«/ 04 21/ M 24/04 2VP4 01/05 |WKT ASIA/MNOAiKO«OIV« vßsa/vor I
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  • Page 23 Advertisements
    • 636 23 MiQi fmrfwm i -TSTTT g B m^ w mOm rap avrai iMpn ik EM7ES& For Schedules, Bl Searches, and ContainerTrocking^isi^^u^om^oga^o^fcHWolaiw^COmj^^^ ■rid-t. HAMBURC^jSUD mmsarvia(HfotD »«i*« B> HI TTTTTfim REMI STMFT —1 HMK iHWB MMI SWT —0— MUM unuutm n/c 7i/ti tvw h/m itm anew* ins w* n/w n/* QanMnans ivn wo
      636 words
    • 874 23 m JEL T¥ re MUHLiU JML jSpSZ-UZa ggggiff g* ¥1 60UBI HAD€ SO4M 22/3 I 7V3 ?V3 -jjg- I Iftj- 1?^ moLUW6 1/T i/< -I *>* I H/3 H/3 -YSI Alport I Weipl ffssa WT re WE sm m «g MUSK Wf IV3 14/3 H/3 JO iw PTMMMC tPS I
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    • 793 23 m a®as& WEEKLY EXPRESS SAMJWG SCHEDULE AMD WESTER* ICO POTTS I Ivtga Iwr m Irami q»uaMoka«v> lam—o I M mm ail iiwi B<W wtft I ■iii i i i m Imt miiM! n. w <Kmjwcww I issa iw m a at I m~ KT—g MH II MM 11 HOI 71IMI
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  • Page 24 Advertisements
    • 764 24 IJUIAf WALLENIUS WILHELMSEN website: http://www.2wglobol.com IVtSSfI 1 YOT 11 AW IK MAO HOW MIA SAY Ml Otf WTC HW »0I TAUSMAN Afso4 3201 MS 4.4 M 1 15/03 17/04 21/04 15/04 24/04 27/04 MftOMGA AfSO7 3201 ms 4.25 M I 31/03 22/04 30/04 04/0S 08/05 07/0S 10/0S |TAPK>U I ifsoB
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    • 709 24 HHH^^^TTTTTWnrTTVTTRIH^H^I vtssti voy sm ku jassa m m xl MM** !i25! 1W m- BSittL, -ia \i'" ]#S— CSF23OI ***** 11/03 12/03 hmuhi Uli u/fti n/ai PACIAMPA 1424* 11 03 13/03 I Of 2301 ***** 13/03 IS/03 MB^^EEnXEEnESHMMBI mum* 142SN 13/03 14/03 VOY MI^Tl PACIANDA 1426 M 15/03 15/03 gWBPg 1M
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    • 522 24 BSA .L MYANMA n FIVE STAR LINE (Myamiar National Use) Loading for Yang on vnsa voy sw hi m kii PAGAN 341W SIB HPA-AN MOW SU> IN MALAYSIA: lOUSTEAD SHIPPING AGENCIES KUI/PKL 03-300St3U PEN; 04-*****15 ACCEPTIW6 CONVENTIONAL CBO HRG SN HG SK Ptll m lIK MARINE STAR M SU) SU)
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 6166 25 w 1 Uwlklf Vaaai v 0> to* TiImNCWI V«M( ETA ETA Advert Mr VmmI Voyage Telephone SIN Ddfn Nam* Name Number Numb* To ABIDJAN (ABJ) 2003 Cote D'lvoire 17/03 30/04 China Shpg NEW DYNAMIC 082A *****898 19/03 30/04 China Shpg KOTABERANI 075A *****898 22/03
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  • Page 25 Advertisements
    • 86 25 TUVALU SHIP REGISTRY QUALITY SERVICE *>'2 'jgB 1. Low taxes 5. Accedes to latest international 2. Active role and representation In IMO conventions end regulations 3. Staffed by quelified professionals with Round the clock service many years of experience in ship 7. Worldwide network of surveyors I registration classification societies
      86 words

  • Page 26 Advertisements
    • 1345 26 I Another solid I I performance I I Highlights of 2004: I 1 Profit attributable to shareholders up 35% I I Earnings per share up 30% I I Fourth interim dividend of US 27 cents, payable on I I 4 May 2005 I I Total dividends for the year US$7.3
      1,345 words
    • 149 26 In the Matter of The Companies Act, Cop 50 And In the Matter of (1) Extruflex Asia Pte Ltd Co. Regn No *****0841 D (In Members' Voluntary Liquidation) (2) Safcol Holdings (Singapore) Pte Ltd Co. Regn. No *****3623 C (In Members' Voluntary Liquidation) (3) My Hitoch Pre Ltd Co. Regn.
      149 words
    • 1561 26 Deutsche Bank m DEUTSCHE BANK AG, LONDON BRANCH (Incorporated under the laws of the Federal Republic of Germany) NOTICE TO WARRANTHOLDERS To: (1) ALL HOLDERS OF EUROPEAN STYLE CASH SETTLED CALL WARRANTS RELATING TO THE ORDINARY SHARES OF KEPPEL CORPORATION LIMITED ISSUED BY DEUTSCHE BANK AG, LONDON BRANCH (KEPCORP DB
      1,561 words

  • BizIT
    • 605 27  -  World's top two contract chip makers expect higher sales, reports RAJU CHELLAM RAJU CHELLAM THE global semiconductor sector, which has seen sales slump from the second half of last year, can expect a small uptick in demand in the second quarter of
      605 words
    • 163 27 Reuters [SAN FRANCISCO] Internet media company Yahoo Inc said late on Tuesday it launched its Small Business Resource Centre, a new effort aimed at helping entrepreneurs run and market their online businesses while also helping big advertisers target the small business market Available at
      Reuters  -  163 words
    • 482 27 Reuters [SAN FRANCISCO] International Business Machines Corp (IBM) and Lenovo Group Ltd of China said yesterday they have won clearance from a US national security oversight committee for Lenovo to acquire IBM's personal computer (PC) business. An IBM executive said the
      Reuters  -  482 words
    • 534 28  -  The company expects sales to reach US$10b this year By ROLAND LIM ELECTRONICS giant Samsung Asia will continue to focus on the premium segment of the mobile phone market, a strategy that helped it achieve a 42 per cent increase in mobile phone
      534 words
    • 266 28 Reuters [SEOUL] Samsung Electronics Co Ltd unveiled the world's first mobile phone with a powerful 7-megapix-el camera yesterday, providing a potential competitive threat to digital camera manufacturers. Samsung has been stepping up development of increasingly sophisticated phones for high-end users looking to access games, music
      Reuters  -  266 words
    • 317 28 Bloomberg [SEATTLE] Microsoft Corp chairman Bill Gates, the world's richest man, says the US economy is "very strong" and customers are increasingly willing to spend money on new technology projects and investments. "I see a very positive attitude towards the economy and
      Bloomberg  -  317 words
  • Page 27 Advertisements
    • 154 27 B SPOTLIGHT ON SAMSUNG It posts 42% rise in mobile sales PG2B Stay n the lead with mm u [il 188 Lwj |p€>iij B 11 Meg@pop. Be part of the moment. less labour-intensive, with minimal We need e allows every carpark operation to from a central command so our carparks
      154 words

  • Page 28 Advertisements
    • 668 28 i !A»V W r tf y. .IH^Ei,tjw^R HP £rjkm SfißlP' H®^^fli '-jA»wto^*JP i rAn 0 a Jm&r wnerever you are... 1 How about moving the world on your fingertips anywhflitfrifljP? ~mo* rw Meet the SGH-i7OO with Windows Mobile Software for PijhmtMfr M Experience a new and excinmHßHmorld... '^"H^ußr2r mm 9-.
      668 words

  • PROPERTY
    • 327 29  -  'New Age' offices similar to SoHo units, and are to go at about $1,100 psf By KALPANA RASHIWALA HAVING sold about 85 per cent of 227 small-office, home-office (or SoHo) units at its Central project over the past year, Far East Organization is releasing
      327 words
    • 455 29  -  UK's commercial property arm suffers £2m loss By ALEXANDRA HO UK-rBASED.reaI estate company Chesterton International has filed for bankruptcy protection after its commercial property arm suffered losses of more than £2 million (556.24 million) in seven months. But the Singapore office says
      455 words
    • 303 29 HOMEOWNERS are again jumping on the collective sale bandwagon. And this time, it's the folks at Hang Tat Garden in Balestier Road. The owners of the eight-storey residential freehold site at No 348 are asking for $24.3 million for the 25,196
      303 words
  • Page 29 Advertisements
    • 155 29 FOR SALE BYTENDER 11 COLLYER QUAY THE ARCADE #10-00 Prime strata office floor at Raffles Place RCM i»r 746 sq m 8,030 sq ft MM I 99-year leasehold v§j| UK «i Tender Closing: 6 April 2005 H flB (Wednesday). 3:00 PM U For enquiries and tender documents, J please contact:
      155 words
    • 234 29 FOR SALE BY TENDER I jpT. 9 Scotts Road (Pacific Plaza) 12-storey prime freehold retail cum commercial building with basement carpark j Opposite Grand Hyatt Singapore fl| Gross Floor Area: appro*. 117,677 sft wt J jig j < Net Lettable Area: approx. 82,328 sft k Prominent corner of Scotts Road
      234 words
    • 27 29 Seafood by the oea m Singa Inn Seafood Restaurant 420 last Coast hhwiv Sutgapurr ****** Tet 634S 1111 tm (345 21M Buemew Houra S Hpin -11 Mpm
      27 words
    • 108 29 LA: 79,350 sf /S' BARTLEY RD /Sf /MARIS STELLA■ bartleyV^ GPR 2.1 St (PRI SEC SCH) MRT 18 storeys (approx) bartley*^^S\ Upper Paya Lebar MRT x Maris Stella, Cedar Girls V^V^-^Te^^v\ CEDAR \*A \-g\ Unobstructed views >ri *sec scm^X r upp payasG> Tender Close \g\ MgHSk LEBAR 16 Mar 'Q5
      108 words
    • 45 29 MERITUS MANDARIN SINGAPORE W LOCAL HIGH TEA FAVOURITES Weekdays: $24.80+++ Weekends: $26.80+++ Reservations: Mezzdfiine *****286 m jasr MERITUS MANDARIN t«U< A division of Overseas Union Enterprise Limited (Company Registration No *****0050E) 333 Orchard Road, Singapore *****7. Tel: +65 6737 441 V. Fax: +65 6732 2361.
      45 words

  • PROPERTY WATCH
    • 1218 30  -  Putting a market value on your home requires homework, as ARTHUR SIM finds out ARTHUR SIM IT never occurred to me that selling my flat would eventually put me in the shoes of a potential buyer. But after I had unsuccessfully showed my property to at least
      1,218 words
    • 1367 30 PROJECT NAME/ PROP CONTRACT TENURE BUCMN/IAND PRICE PS* STREET NAME TYPE DATE AREA*(SQFT) (SV000) 6$) District 01 NON-LANDED The Sal At Manna Bay Apt 0*02/2005 99 689 750 1089 The Sal At Marina Bay Apt 2001/2005 99 592 530
      1,367 words
  • Page 30 Advertisements
    • 108 30 1 Got the right home? Now get the right home loan. 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 loan: Competitive
      108 words
    • 36 30 HSBC<X> The worlds local bank This is a fortnightly series brought to you by HSBC. For a free property valuation or a quick assessment of your loan requirement, please visit www.hsbc.com.sg Brought t<>you by HSBC M
      36 words