The Business Times, 17 March 2005

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Total Pages: 32
1 32 The Business Times
  • 15 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asia 1 .com.sg MICA (P) 089/03/2005 ym^^^nioos
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  • 444 1  -  ACCS director's stake fell below 5% in Feb with option exercise by others By JOYCE KOH [SINGAPORE] ACCS director Gay Chee Cheong said yesterday he had ceased to be a substantial ACCS shareholder on Feb 18 when share options in the company were exercised and
    444 words
  • 139 1 STI 2.169.64 (+5.71) ST INDEX FUTURES 2,170.00 (-1.00) SIMSa 257.04 (+1.02) SIMSa FUTURES 256.40 (+0.60) MARKETS Wednesday Change KLSECOMP 897.51 -0.69 NIKKEI 225 11,873.18 +52,09 HANG SENG 13,832.52 +1577 SET INDEX 706.64 +9.80 JAKARTA COMP 1,138.23 +19.23 MANILA COMP 2,099.12 -7.19 SEOUL COMP 993.13 unch SHENZHEN B 266.18
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  • 684 1  -  Lapse over ACCS stake may land him in trouble By WONG WEI KONG [SINGAPORE] Almost a year after investors were shocked by the late Khoo Teck Puat's failure to fully disclose his stakes in several listed companies, the market is again confronted with
    FILE PHOTO  -  684 words
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  • TOP STORIES
    • 760 2  -  CASINO DEBATE 80% of potential problem gamblers already gamble regularly, it says Reports by DANIEL BUENAS [SINGAPORE] Problem gambling will increase only slightly if the government allows an integrated resort (IR) with a casino, as 80 per cent of Singaporeans susceptible' to pathological
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    • 526 2 [SINGAPORE] An integrated casino resort (IH) is likely to come with Singapore's biggest hotel and retail mall, drawing 13.5 million visitors to its casino and 26.1 million people to its nongaming facilities but do not expect it to be built at Sentosa.
      PHOTO: MORGUE FILE  -  526 words
    • 596 2 All 13 Garuda directors sacked in shock move IN a shock move, the entire 13-member board of the struggling state-owned airline Garuda Indonesia was dismissed by the central government yesterday. State Enterprises Minister Sugiharto said that the unprecedented mass sacking is aimed at finding better managers to boost
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    • 554 3  -  Minister says govt will find better managers to boost carrier's performance By SHOEB KAGDA in Jakarta IN a shock move, the entire 13-member board of the struggling state-owned airline Garuda Indonesia was dismissed by the central government yesterday. State Enterprises Minister Sugiharto
      554 words
    • 608 3  -  But failure of risk controls not unique to China firms By SIOW LI SEN [SINGAPORE] China Aviation Oil (CAO) was a scandal waiting to happen, and die signs were there, according to a panel of legal experts yesterday. Bankers should have known
      608 words
  • Page 2 Advertisements
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    • 54 2 Xj i U'UfiNDTHEOHES-7:( t> -J THWFmc; X J IPO Recruit the right people v J Ittarough The Straits Times Recruit J r M Call 1800 289 8822 or fcmafl T I recrultssph.com.sg -»j U toidwtise. pj W 1 CIiRBSPTim \r> J. —-"i HH L\ej Bp? i l B nn«i -bb
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  • Page 3 Advertisements
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  • COMPANY NEWS
    • 789 4  -  Waiver on first 5 min of video call signals early start of price war By AMIT ROY CHOUDHURY SIGNALLING that a pricing war may have begun in the third generation (3G) mobile telephony market, Mobile One yesterday announced a modification to
      FILE PHOTO  -  789 words
    • 273 4  -  By LIZA LIN SINGTEL subsidiary Singapore Telecom International (STR has nominally reduced its share in Globe Telecom Inc (Globe), the Philippines' second largest phone company, following a stock buyback exercise by Globe. STl's stake in the telco dipped from 45.1 per cent to 44.6
      273 words
    • 324 4 Reuters SINGAPORE Airlines Ltd may agree to delay the introduction of new superjumbo planes on flights from Sydney to Los Angeles in return for access to the sought-after trans-Pacific route, it said yesterday. State-controlled Singapore Airlines will be the first airline to take
      Reuters  -  324 words
    • 336 4 THE winner of the $279 million contract to build the award-winning The Pinnacle@Duxton has finally been revealed. Mainboard-llsted Chip Eng Seng Corporation (CES) yesterday announced that the project was awarded by the Housing and Development Board (HDB) to its wholly-owned construction
      FILE PHOTO  -  336 words
    • 600 4  -  HOCK LOCK SIEW By MICHELLE QUAH THE conviction of WorldCom's ex-CEO, Bernard Ebbers. for accounting fraud has once again thrown the spotlight on the problem of corporate malfeasance and possibly reignited the on-again, off-again debate on corporate governance. This particular instance of accounting
      600 words
    • 655 5  -  Competitive pressures and higher costs expected to offset rise in home loan rates, say bankers By SIOW LI SEN THE current rise in home loan rates will improve the local banks' margins, but competitive pressures and higher costs mean it's not going to
      FILE PHOTO  -  655 words
    • 622 5 Reuters DBS Asset Management plans to launch a fourth umbrella hedge fund this year and is considering private equity deals in a push to expand its US$2OO million portfolio of alternative investments, its chairman said on Wednesday. It wants to
      Reuters  -  622 words
    • 314 7  -  Settlement terms not finalised, but win-win situation is expected By DALENA LEE AFTER spending the last two years embroiled in a legal dispute over forest concession rights in Kalimantan, United Fiber System (Unifiber) has reached an out-of-court settlement with the Indonesian Ministry of Forestry, indicating
      314 words
    • 284 7  -  By JOSEPHINE TAY SESDAQ-LISTED Asia Water Technology has won two contracts worth about 111.7 million yuan (Ss22 million) in China. Under the first deal, worth 81.6 million yuan, the water treatment specialist will build a tap water treatment facility in Tianmen city in
      Source: Bloomberg  -  284 words
    • COMPANY BRIEFS
      • 81 7 ASIATRAVEL.COM has a new chief executive officer. Dr Ong Nai Pew steps down as executive co-chairman to take the CEO job with immediate effect. The former CEO, Ang Eu Khoon, has also stepped down as the company's executive director but remains as a director of SH
        81 words
      • 72 7 ASIAMEDIC has incorporated a wholly owned subsidiary here. Called Asia Medic Heart Vascular Centre, the company has authorised share capital of $500,000, divided into 500,000 ordinary shares of $1 each. AHVC will be principally engaged in the provision of cardiac and vascular diagnostic imaging services, as well
        72 words
      • 89 7 SEE Hup Seng has terminated a conditional purchase agreement to acquire a 8.75 per cent equity stake in GTC from SongTa-Shih for A million. The reason was that Mr Song was unable to procure from GTC all the information required by the company for
        89 words
      • 27 7 TUAN Sing Holdings' company secretary, Charis Chen Sook Mae, resigned on Monday. In her place, the company has appointed Ms Chia Hue Siew.
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      • 70 7 CHINA Flexible Packaging Holdings, one of China's leading manufacturers of biaxially oriented polypropylene film, reported net profit increase of 30.5 per cent to RMB 52.2 million ($10.23 million) for its first quarter results ended January 31. The figure was up from RMB 40.1 million in IQFYO4.
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      • 79 7 THROUGH its subsidiary Corporate Bridge Investments, Futuristic Image Builders has acquired 1.34 million shares in Australia-listed Skywest for an average of A 50.1954 per share. It bought another 115,600 Skywest's options, which are tradeable on the Australia Stock Exchange, for A 50.024 each. CB Investments
        79 words
      • 80 7 PAN-UNITED Marine has secured two new shipbuilding contracts, worth $48 million, for constructing two offshore supply vessels. They are expected to be delivered in the second half of 2006. The company said that while it expects positive contributions from these contracts, they are not expected
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      • 90 7 ON April 12, the Singapore Exchange is to launch a campaign to promote electronic trading of MSCI Taiwan Index futures on SGX Quest, a move SGX says is in line with demand. SGX has secured institutional liquidity providers' commitment to establish an efficient market that offers
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    • 375 7 Bloomberg THAKRAL Holdings Group, owner of Melbourne's Hilton hotel, may bid for the 12 Australian hotels owned by Intercontinental Hotels Group pic should the UK-based company decide to sell them. "We had discussions with Intercontinental and it is my
      Bloomberg  -  375 words
  • Page 4 Advertisements
    • 156 4 Company Formation Foreign Direct Investment Virtual Offices Since 1975 OCRA Worldwide has been providing offshore incorporation and administration solutions for Asian and International businesses. We have been at the forefront of corporate and financial trends in China and lead the fieid in foreign direct investment Our pioneering spirit, professionalism and
      156 words

  • Page 5 Advertisements
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  • SINGAPORE MARKETS
    • 518 6  -  STOCKS Concerns over oil price, weak Wall St contribute to a mixed and cautious session R SIVANITHY Senior Correspondent LAST week, penny stock Accord Customer Care Solutions (ACCS) provided the main focal point for traders. Yesterday, Keppel Corp, Ascott Holdings and Beauty China assumed the
      Source: Bloomberg  -  518 words
    • Article, Illustration
      932 6  -  Compiled by JOYCE KOH Singapore Airlines Mardi 16 close: $12.10 UOB Kay-Hian Research, March 16 THE Chinese New Year did not deliver significant passenger traffic growth in February this year. Passenger capacity expansion slowed from the previous month but continued to outpace weak growth. Cargo traffic growth was
      Source: Bloomberg  -  932 words
    • 527 6  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar won a reprieve of sorts in overnight trading after news that net inflows into the US economy in January this year had spiked to US$9l.5 billion (against December's US$6l.3 billion), but the effect of soaring com- modity
      Source: Bardays Capital  -  527 words
    • TRADES TO WATCH
      • 76 6 SCHRODER Investment Management's Singapore, Japan, Hong Kong offices, along with Schroder Investment Management Limited, have ceased to be a substantial shareholder in SembCorp Industries Limited. The fund manager's deemed stake fell to 4.986 per cent from 5.196 per cent, after it sold the shares
        76 words
      • 238 6 STAKES of eight substantial shareholders in Huan Hsin Holdings Limited, a contract manufacturer of telecommunications and electronics products, have been diluted following the placement of 65 million new ordinary shares on Monday. Hungchun Holdings Ltd's direct interest fell to 13.63 per cent from 16.28
        238 words
      • 77 6 SESDAQ-LISTED New Wave Technologies, an electronic component and IT company, announced yesterday that its director Tan Ming has bought two million shares on the open market through Genlink Plus Pte Ltd. The shares were purchased at 24.75 cents each. That brings Mr Tan's deemed interest to
        77 words
      • 85 6  -  Compiled by ALEXANDRA HO GOLD Peak Industries Holdings has increased its deemed interest in CIH Limited, an electrical installation products developer and manufacturer. Through open market purchase, its deemed interest rose to 84.08 million shares from 83.11 million. That's 65.89 per cent of
        85 words
    • Article, Illustration
      434 6 OTHER SINGAPORE INDICES Mar 16 VALUE CLOSE BT OB/OS -105.00 -50.00 BT CADI -*****.00 +38.00 BT 10-day MA -*****.00 -10.00 All-SG Equities 562.19 +2.44 SG Equities Elect 142.41 +0.30 SG Equities Fin 1618.11 -0.10 SG Equities Prop 568.55 +4.66 SIMSCI 257.04 +1.02 SiMSCI Futures 256.40 +0.60 MOST ACTIVE STOCKS VOLUME
      434 words

  • Page 7 Advertisements
    • 36 7 P M FM® THE ONES THAT FIT!; i 1 Recruit the right people through The Straits Times Recruit. J f~ Call 1800 289 8822 or email recruitssph.com.sg to advertise. +7 o i.|J«|.i||u C* j v I
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    • 1786 7 C\ Tan Chong International Limited T A n CHOnG (Incorporated in Bermuda with limited liability) FINAL RESULTS ANNUAL GENERAL MEETING The Board of Directors ("Board") wishes to announce the The Annual General Meeting will be held at The Dynasty Club, 7/F following audited results of the Group for the year
      1,786 words

  • MID CAPS
    • 946 8  -  Last year's results clearly won investor vote, says WONG WEI KONG WONG WEI KONG IS Osim International up and sprinting again? The market thinks so. Analyst upgrades and a stronger share price performance reflect the belief that the healthcare group is back on
      FILE PHOTO; AFP  -  946 words
    • 3818 8 UNIT TRUSTS FUNDS MiaysiaEqtySGDI" 1014/ Malaysia Eqly USD 0.62V UP Guaranted 5.0/1 1.***** ABM Amro Asset Mgt S pore) UPG'teed5.M2 *****6/ Star Europe Eqty'** 0*27/ UPG'teed7M2 1.*****/ Star Europe Bond UV UPffteedFund5.0B 1.071/ Star EuropeBal 11» UPfftted7M *****/ E<W Upswing Fuid 5.»1 0*22/ Upswing Fund 7.0/1 0.*****/ AaaBalanad. 0.956/ uPSWWG
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  • Page 8 Advertisements
    • 33 8 DIT Europazins Best Bond Europe Fund over 1yr, 3yrs and 5yrs category* rated AA by Standard Poor's. Allianz (jfi) Dresdner Asset Management Source: The Edge-Lipper Singapore Funds Awards 2004 company regn. no *****7169Z
      33 words

  • CEO'S NOTEBOOK
    • 1361 9  -  Life in the kampung toughened him up while taekwondo steeled his resolve. Oracle Singapore MD Stanley Chew tells his story to RAJU CHELLAM RAJU CHELLAM THIS is a story about a timid little boy who grew up in a village, worked as a caddy to make
      CHRIS LOH  -  1,361 words
    • 372 9 IN the market in Singapore and worldwide, American software giant Oracle Corp has a reputation for being toughtalking, no-nonsense, and aggressive company, with a singleminded pursuit of profit and market share. But that's not quite true, says Oracle Singapore's managing director, Stanley Chew. "Take the tsunami for
      372 words
  • Page 9 Advertisements
    • 243 9 Fujitsu recommends Microsoft® Windows® XP Professional. The Lifeßook EBO2O offers maximum sophistication in an ultra-portable form factor. Mobile professionals can enjoy hassle-free wireless connection at hotspots anytime, anywhere. Ergonomicalty designed with a full-sized keyboard and 14" XGA display, demanding tasks can now be managed effectively and efficiently. Users can enjoy
      243 words
    • 10 9 Thtottfto it brought to you by: LIFE 800 O Fujrrsu
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  • SINGAPORE NEWS
    • 380 10  -  Price gap between light, sweet crude and heavy, sour crude to stay By RONNIE LIM AS headline light, sweet crude prices nudge a record U5555.67 a barrel, Singapore refineries with the flexibility to process heavy, sour crudes costing US$510 a barrel less have capitalised
      380 words
    • 452 10  -  By CHUANG PECK MING AFTER the letdown in January which got exports to an unimpressive start for the year, some economists now think the recent months' strong production in pharmaceuticals has finally translated into strong shipments last month. "The production numbers for pharmaceuticals have
      452 words
    • 567 10  -  It'll seek relief and damages for breach of contract By MICHELLE QUAH THE legal drama that has rocked the once-low-key business of money broking in Singapore escalated to a new level yesterday, when industry stalwart Prebon Yamane said it will take 51 former
      567 words
    • 219 10 GREAT Eastern, Ya Kun and Eu Yan Sang were some of the local brands honoured at the Superbrands Awards ceremony at the Shangri-La Hotel yesterday. This year. 89 local and international brands received the Singapore Superbrands status, which recognises brands for their credibility and sustainability. The
      219 words
    • 374 11  -  They can jointly tap Asia, Latin America, says minister By VIKRAM KHANNA COMPANIES from Singapore and Spain should work together to exploit opportunities in Asia, Europe and Latin America, says Spain's Secretary of State for Trade and Tourism Pedro Mejia. "Spain is already
      CHRIS LOH  -  374 words
    • 373 11  -  By LIZA LIN SINGAPORE women are making headway in highpaying careers, yet more are employed at low-wage jobs today than a decade ago. show figures from the Ministry of Manpower (MOM). MOM data from June 2004 shows about 31,600
      373 words
    • 693 11  -  FAMILY LIFE AMBASSADOR SERIES Natsteel Asia steadfastly stood by a chronically ill employee, helping with bills and expenses. CAROLYN QUEK reports CAROLYN QUEK WHILE some employers might have terminated his service when he contracted kidney failure back in 1997, Twang Peck Tong's employer, Natsteel Asia,
      CHRIS LOH  -  693 words
    • 573 11 GOH Ser Tek has been taking his two young daughters out on one-on-one dates. The assistant manager at the budget control department of Sony Display Device Singapore has been doing so after he started attending family talks held at his company since last December. The
      573 words
  • Page 10 Advertisements
    • 328 10 r J, HrH|| ill 11 THINKPAD" NOW. AND THINKPAD ALWAYS. 9 I To IBM* ThinkPad customers everywhere: 1 1 I ThinkPad has won more awards than any other PC In the worU.. i^f We're deeply proud of this, because It means ThinkPad owners can be bettor protected, and from ||j
      328 words
    • 11 10 Read our newspapers for a fresh set of jobs everyday! 1
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  • Page 11 Advertisements
    • 169 11 v'ff w On Monday, we ran a column on how Baxter Healthcare and HBO promote family friendly policies. Both multinational companies, and the two manufacturing companies featured today, are part of the 1,100 corporate and individual ambassadors under the Fkmily Life Ambassador Programme, which was launched in Oct 2000. Of
      169 words

  • FOCUS: SERVICES
    • 923 12  -  INFORMATION TECHNOLOGY The ability to deliver complex solutions will give Singapore the edge over its competitors in the IT war. CHEN HUIFEN reports CHEN HUIFEN INDIA might be basking in the media limelight in software and outsourcing but that is not to say that
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    • 296 12 SINGAPORE is becoming a hotspot for the development. test-bidding and the proof-of-concept of IT solutions. Just look at some of the recent announcements by major IT companies: Shu Microsystems launched a US$5 million iForce Solution Centre this week to develop and test its solutions for a
      296 words
  • Page 12 Advertisements
    • 96 12 I The Pimlico Apartments ||S|NMHHS| p wmtn 11 I I N &JIt J m *L«&&* 1 &W*WBZ?m JBk Vsll |j 7 §|Bu<kingham v^krr~*| r 1 A v H I 1f <®1 rut *■-*♦<•<' m m*ujtj i rr "^b_XJK3 Ifiy**^' e hou« <a 1^ B <&<** H Westminster mg L_JL~«fl Sooi
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  • ECONOMY WATCH
    • 616 13 Jan's pace is fastest in 2 years, shows US is still a draw despite deficits Bloomberg [NEW YORK] Foreign investors bought US assets in January at the fastest pace in almost two years, a sign that record current-account and budget
      Bloomberg  -  616 words
    • 477 13 Bloomberg JAPAN'S economy is poised for a sustained recovery as exports and production pick up and companies hire more workers, Bank of Japan (BOJ) governor Toshihiko Fukui said. "Japan's economy remains on a plateau, though the mechanisms for a sustained recovery
      Bloomberg; AFP  -  477 words
    • 556 13  -  Countries need to spend US$1 trillion over next 5 years By ANTHONY ROWLEY in Tokyo East Asia is in danger of losing the logistical advantages that have driven its dynamic growth in recent decades because the region's infrastructure networks, especially in transport, are
      556 words
    • 277 13 LATEST US DATA AP Reuters [WASHINGTON] The United States deficit in the broadest measure of international trade soared to an all-time high of U*****.9 billion in 2004, showing in stark terms the speed with which the country is becoming indebted to the rest
      AP; Reuters  -  277 words
    • 358 13 Reuters [ISFAHAN, Iran] Opec producers yesterday agreed on a 2 per cent increase in oil supplies in an effort to rein in US$55 crude. The Organization of Petroleum Exporting Countries said it raised production limits by 500,000 barrels a day
      Reuters  -  358 words
  • Page 13 Advertisements
    • 268 13 rOPTIONETICS PROUDLY PRESENTS THE OPTIONS COURSE The Secret to High-Profit Low-Bisk Trading Strategies At this unique FREE SEMINAR, you will learn Harvard-educated hedge fund manager George mm how it is possible to: Fontanills is an W Trade on the USA Major World Markets IN/fl Trade risking as little as SG$lOO
      268 words

  • MALAYSIA/INDONESIA
    • 549 14  -  Beckkett suing Deutsche Bank for disposing of its Adaro, IBT shares By SHOEB KAGDA in Jakarta AN ongoing legal dispute over the ownership of Indonesia's largest coal mine is threatening to scuttle Temasek Holdings' first investment in the country's highly profitable coal-min-ing industry. BT
      549 words
    • 568 14 Reuters [KUALA LUMPUR] Malaysia could challenge neighbour Indonesia to become South-east Asia's top oil producer, in a high-stakes rivalry underscored by a tense dispute over little-ex-plored waters off Borneo. Malaysia's output is estimated to be less than 200,000 barrels per day (bpd) behind Indonesia
      Reuters; BLOOMBERG  -  568 words
    • 252 14 Bloomberg [JAKARTA] Indonesia's government will today begin gauging demand from international investors for its third US dollar-denominated bond sale since 1996, as borrowing costs for developing nations rise. Indonesia, which plans to sell US$l billion of global bonds to help cover a budget deficit,
      Bloomberg  -  252 words
    • 2266 14 VOl F5SM 1.10 -0.04 274 BrM w W- r—») FTEC Resources 0.37 unch 301 Furqanlut.Org... 0.33 0.01 067 AtMRealty 1.5S unch 4 Gadang 1.40 unch 1197 AMc 0.46 -0.01 97 Gamuda 4.94 -0.02 2367 AGPInduBrlai 1.10 unch 1 General Corp 0.46 0.01 75 AtfcancaSpMrgy 034 -031 225
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  • Page 14 Advertisements
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  • GREATER CHINA/INDIA
    • 728 15 Case ignites fears that China banks will be seen as unfit for listing AP [SHANGHAI] The chairman of China Construction Bank, the country's third biggest lender, has quit after reports of a corruption scandal. The bank's board of directors met yesterday to
      AP  -  728 words
    • 44 15 [XIANJA crowd watching as workers try to free a truck caught in high-voltage wires in north-west China's Shaanxi province on Tuesday. Traffic accidents in China, which has the world's highest annual road death toll, killed nearly 107.000 people last year REUTERS
      REUTERS  -  44 words
    • 187 15 Reuters [FRANKFURT] China's top carmaker, Shanghai Automotive Industry Corp (SAIC), is holding exploratory talks about taking a stake in Italy's Fiat, German business magazine Wirtschafts Woch e reported on Tuesday. The report, a summary of which was released ahead of publication today, gave
      Reuters  -  187 words
    • 520 15 AFP [NEW DELHI] Increased military spending by Beijing is a concern because it comes at a time when there is growing tension between China and Taiwan, US Secretary of State Condoleezza Rice said on Tuesday. Speaking on board
      AFP  -  520 words
    • 346 15 AFP [NEW DELHI] For New Delhi housewife Kavita Pant, holidays used to mean bundling her husband, two children and herself into a train for a jolting ride to her in-laws' home in dusty Madhya Pradesh state. But with India allowing carriers to fly more
      AFP  -  346 words
    • 265 15 AFP [BEIJING] China may look abroad as it tries to headhunt highly skilled managers that can help turn around its large ailing state-owned enterprises, the government said yesterday. The powerful stateowned Assets Supervision and Administration Commission, which is in charge of 177 large state
      AFP  -  265 words
    • NOTE BOOK
      • 64 15 Reuters [HONG KONG] China's top oil producer PetroChina reported second-half 2004 profits jumped 86 per cent to a record high on booming oil prices, and analysts expect further gains for 2005. PetroChina's second-half net profit totalled 57.6 billion yuan (Ssl 1.3 billion) for the year
        Reuters  -  64 words
      • 82 15 AP [JAKARTA] A fresh outbreak of bird flu on Indonesia's Sulawesi Island has killed some 25,000 chickens, but the local government has not ordered the slaughter of healthy birds because it has no money to pay farmers compensation, an agricultural official said yesterday.
        AP  -  82 words
      • 91 15 Reuters [KUALA LUMPUR] Malaysia, the world's biggest producer of palm oil, wants to partner with US firmp to produce and market biodiesel for the automotive industry, Commodities Minister Peter Chin was quoted as saying on Tuesday. "We are able to produce it now but
        Reuters  -  91 words
      • 58 15 Reuters [KUALA LUMPUR] Malaysia's largest rubber trader Mardec Bhd may be listed on the Kuala Lumpur Stock Exchange by early 2006 to raise funds for uwimoi expansion, the Malaysian Business Times reported yesterday. It didn't say how many shares would be sold or
        Reuters  -  58 words
  • Page 15 Advertisements
    • 174 15 "The Greatest Vintage Bordeaux has ever produced" Robert Parker (I w V HHUIiBIIWMiIIWBIHyKIIBiiWBiWUM CiAntr 25th 26th March 2005 Moderated by a panel of leading M I) t soramefie«,'24 of Bordeaux's fine* Chateau V 'fJT I;.,? fen the ahe*ly legendary 2000 vintage. $388 nett 5338 will be presented over a tutored
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  • ASIA-PACIFIC/WORLD
    • 482 16 South Korea complained about unfair EU computer memory chip tariffs Bloomberg [SEOUL] Hynix Semiconductor, the world's secondlargest memory-chip maker, was unfairly penalised by European Union (EU) tariffs, the World Trade Organisation (WTO) has ruled, according to sources. The global trade body in Geneva upheld
      Bloomberg; AFP  -  482 words
    • 543 16 Senators show how Chile's strongman laundered US$15m Reuters [WASHINGTON] Chile's former dictator Augusto Pinochet used a web of more than 100 US bank accounts, including 63 with Citigroup, to hide and launder at least US$l5 million (Ss24 million), a Senate report due out yesterday shows. The
      Reuters  -  543 words
    • 208 16 Reuters [MANILAI The Philippine government and tycoon Lucio Tan have agreed to jointly sell about 60 per cent of Philippine National Bank (PNB), the country's fourth largest private lender. Finance Secretary Cesar Purisima said yesterday the stake is worth about US$4OO
      Reuters  -  208 words
    • 271 16 Reuters [LONDON] Global fund managers are more bullish about equities than at any time in five years as they expect the world economy to gather steam, a Merrill Lynch monthly survey showed. Some 68 per cent of respondents were overweight equities in March, up
      Reuters  -  271 words
    • 967 16  -  ASIA INSIGHT The multilateral development banks should get on with the job of financing Asian infrastructure ANTHONY ROWLEY Tokyo Correspondent SO NOW we know. Building roads, railways, power stations, grids, communication networks, water and sewage systems and other forms of basic infrastructure in
      967 words
    • 423 16 [LONDON] Cassava Enterprises, one of the world's biggest Internet gambling companies, has hired Credit Suisse First Boston (CSFB) to prepare a flotation of 888.com, valuing its online poker room at up to US$l.6 billion (552.6 billion). The flotation is expected in
      423 words
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  • WORLD
    • 398 17 Reuters [NEW YORK] With his conviction on accounting fraud, Bernard Ebbers, the former chief executive of World Com, has cemented himself in the pages of accounting textbooks and is likely to remain there for a long time to come. It took just eight
      Reuters  -  398 words
    • 361 17 Former World Com chief Bernard Ebbers is convicted of orchestrating US$11 billion accounting fraud, the biggest in US history Source: Reuters 1985: An early investor in discount long-distance provider called LDDS (Long Distance Discount Service), Bernard Ebbers becomes CEO. 1995: LDDS acquires Williams Telecommunications Group (WilTel) for
      Source: Reuters; Photo: AP  -  361 words
    • 425 17 Reuters [NEW YORK] A major rating agency on Tuesday stripped insurer American International Group Inc (AIG) of its coveted "AAA" debt rating. Three others took steps to do the same, on concern over the impact of government probes and the
      Reuters  -  425 words
    • 617 17 Juries are willing to convict them of fraud, rather than subordinates NYT [NEW YORK] The conviction of Bernard Ebbers, the former chairman of WorldCom, on charges that he helped to orchestrate the massive accounting fraud at the telecommunications giant is bad news for
      NYT  -  617 words
    • 483 17 NYT [NEW YORK] Bernard J Ebbers, the former chief executive of World Com, was found guilty of all nine counts of orchestrating a record US$ll billion fraud that bankrupted his company. Ebbers, 63, was convicted of securities fraud, conspiracy and seven counts of filing
      NYT  -  483 words
    • 337 17 Reuters [DENVER, Colorado] The US Securities and Exchange Commission has sued former Qwest Communications International chief executive Joseph Nacchio and 10 other former executives, accusing them of perpetrating a massive financial fraud on investors. The SEC on Tuesday simultaneously settled with
      Reuters  -  337 words

  • AVIATION
    • 508 18 But the 2 airlines have made progress in exploring further cooperation Bloomberg [HONG KONG] Cathay Pacific Airways Ltd and Swire Pacific Ltd denied newspaper reports of a planned merger with Air China Ltd, which would create one of the world's largest
      Bloomberg; REUTERS  -  508 words
    • 308 18 Reuters [WASHINGTON] The US government should study which airports would benefit most from merging explosive detection machines into their baggage handling system so that scarce funds for such projects are best used, congressional auditors said on Tuesday. Initial projects to integrate
      Reuters  -  308 words
    • 584 18 LAT-WP AS a kid ih south Los Angeles, James A Bell's ambition was to follow in his father's footsteps and deliver the mail. "When I was growing up, I didn't know what a CEO or CFO was," Mr Bell recalled. "I thought people Who worked at
      LAT-WP  -  584 words
    • 285 18 Bloomberg [HONG KONG] China Aviation Oil Holding Co, which supplies almost all of the country's jet fuel, may raise its price by about 10 per cent, following the increase in global prices this year, said officials at two Chinese airlines. China's jet fuel may
      Bloomberg  -  285 words
    • 503 18 Bloomberg [SYDNEY] Patrick Corp chief executive Chris Corrigan is poised to take control of Virgin. Blue Holdings, Australia's second-biggest airline, after making a hostile Asl.l billion (Ssl.4 billion) takeover bid for the discount carrier. Patrick has 49.03 per cent of the airline,
      Bloomberg; BLOOMBERG  -  503 words
    • 1833 18 air ntma «r» mwn ire kxsj 1015 S0408 iass Duvwrui SQ141 1145 SQ142 0935 «MMl LM9771 1155 AF80M 2250 5Q143 1535 SQ146 1640 S0230 1BSS BA7W uso GA840 1725 GA841 1825 SQZX QFB2 2250 SQ147 2230 SQ148 1900 SQ323 0645 ?3» W«k. 5Q435 0550 SQ436 2030
      1,833 words

  • SHIPPING
    • 706 19  -  Expressing concern over violent attacks in Malacca Strait, it urges littoral states to act By GEORGE JOSEPH [SINGAPORE] The International Maritime Bureau (1MB) yesterday warned that violence is on the rise in the Malacca Strait and urged law enforcement agencies of
      AFP  -  706 words
    • 415 19  -  By EVELYN DUFFY in Perth SINGAPORE can learn from the experience of Fremantle Ports in supporting a training ship, the Leeuwin. which has spurred many young people in Australia to a maritime career. Freemantle Ports has been supporting the Leeuwin since 1986 by way
      415 words
    • 200 19 Bloomberg [LONDON] European Union ports and terminals complied with United Nations anti-terrorist security rules eight months after a July 2004 deadline, the European Sea Ports Organization said. "The only exceptions concern terminals which handle occasional international traffic and those in
      Bloomberg  -  200 words
    • 353 19 Bloomberg [LONDON] Clarkson, the world's largest shipbroker, reported a 58 per cent increase in second-half profit, as growth in Asian trade and oil production drove up demand for vessels. Net income in the six months through December rose to £7.1 million (Ss22 million) from
      Bloomberg  -  353 words
    • 283 19 sex Iter It SS Vol CH Offshore .0.36 0.01 273 ChuanHup .0.72 unch 819 Cosco Corporation 1.69 0.02 9074 CWT Distribution .0.66 0.01 10 EzraHldgs 1.11 0.01 110 FretghrtUnks. 0DB -0.01 230 Grand Banks Yacht 1.14 unch 0 Jaya Holdings 1.06 unch 669 K1 Venture 0-28 0.01 831
      283 words
  • Page 19 Advertisements
    • 79 19 transport insurance plus service Insurance for Transport and logistics operators ■< Ports and terminals Cargo handling facilities Ship operators Contact TT via or at any point in the network Mr' M m Singapore A Tel +65 6323 6577 Ap Hong Kong Tel +852 2832 9301 Hklk Shanghai Tel +86 21
      79 words

  • EDITORIAL & OPINION
    • 519 20 EDITORIAL JAPAN is being accused of backsliding again on commitments to open up its economy, because of the decision to delay reforms making it easier for foreign companies to take over or merge with Japanese companies. At issue is the successful revolt by members of the ruling
      519 words
    • 886 20  -  It may seem so, but oil prices and current and potential trade imbalances may justify worry ROBERT SAMUELSON The Washington Post Writers Group ONE of the big questions of our time is whether the global economy is stable. The gains from "globalisation" more cross-border
      The Washington Post Writers Group; AFP; AP  -  886 words
    • 821 20  -  THE BOTTOM LINE LEON HADAR Washington Correspondent IMAGINE: For a few years you were investing the money you had gaved for your daughter's college education in one of those moderately conservative plans that provided some increase in the value
      821 words
    • 1145 21  -  Tying up with a business transformation outsourcing provider may just yield the changes needed for a firm to keep its edge By JOHN BLIGH CONVENTIONAL business wisdom dictates that in tough economic times, an organisation should cut expenditure to remain competitive, "squeezing the costs
      REUTERS  -  1,145 words
    • 885 21  -  MATTHEW LYNN Bloomberg WHERE is the best place in the world to look for oil? Under the Indian Ocean? In some of the remote regions of Africa? Down around some of those countries with long, tricky-to-spell names that used to be part of the Soviet
      Bloomberg; AFP  -  885 words

  • Page 21 Miscellaneous
    • 313 21 CRYPTIC CROSSWORD ACROSS notes (7) 1 Process of soaking fixed 5 Uke some stores partiapating amount of spice (10) operations (3-4 6 Long story from Greek char- 7 Groom .starts tc. pray really acter in city area (4) excep 10 Bound to cross over river Q H?™®: V, that's not
      313 words

  • 10466 22 STRAITS TIMES INDEX STOCKS Stock name Wt Oo»» Chug* Stodi imw Wt Ooee a— B» Allgreen 50c 0.31 1.180 *0.010 NOL 2.72 4 080 -0.0*0 Bit Irttl US20c 0.49 1.130 OCBC 9 66 13.900 *0.100 CapitaLand 1.62 2.580 -0.030 Partway Hldgs 25c 0.71 1.630 *0.010 Chart SemtCond 26c
    10,466 words

  • 5826 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES la tool cot ib St In (ISS %d r *<*» *r ItoW Indw Chary Chfy Changa Chang* Oianga Changa Worid Indw Prefrninanr 8665 0.1 1.7 0.0 0.4 00 1,0 «WEWMna>y 8045 OA At 03 2.1 03 2.7 Europe Pufcrwranf ***** 05 4.8 0.4
    5,826 words

  • Page 24 Advertisements
    • 1693 24 "1 NORTH AMERICA AUSTRALIA/NEW ZEALAND 1 5 ißfw Bin WW r pviwifM IBOVI SUPcH SHUTTLE EAPhcoS (SSA) [AUSTRALIA ASIA EXPRESS (AAX) nnrniiwiT VESsa wt |m syp m adl fre «1 00Q HAMBURG 00W0B 02/03 JO/OS 22/03 FtO MDUOYD HOUTMAN m« /M nOKWOTMOK «W.O H/03 .3/0. »>» PtO MDUOYD ADEUUDE UN
      1,693 words
    • 804 24 [INTOASU tOtO tWVKI I VBSa/VOT MfffD HH6HIP) W6 KH U» SW g__J SIMITSyBmWO7/M IS II I 75-24/03 M/ 03 01/04 04/04 04/04 SIMITS VENTIME 01/D5 IS i! 0W»/W 11/04 |smnswnwtof/os is 3? iMt/w tvw a/04 oi/os ovos WltT fttUVHMOAL E.QKQ IVS I vtssa/voT mwffD hbghtw to» m khh wi I
      804 words

  • Page 25 Advertisements
    • 980 25 a ranae of mnrWi Id amun timely. ratable services cowrino maior Dorh in v. w Tlrfl .T. r" Nor* America, Europe, Japan, Asm, Africa 4 Oceania. 1 1 j""' .""g": '.V 1 1 tfMii- f I Abo occoot Intra-Asia Gmn las SUSAN KWAMGYMI6 SHAHGHAI YMdttil XlAflM QM6MO IOiIMIUI JAKAtn SUKAMYA
      980 words
    • 983 25 vtssa voy slh pkc GOLDEN GAU ML 15/3 16/3 18/3 HEW DYNAMIC 082 A IMI jj/3 GOLDEN TRADE jO4N_ 22/3 23/3 J5/3 gg BZg ZMI W~ KUO LUNG 007N M/ 3 I 30/3 1/4 NEW DYNAMIC OS3A 31/3 2/4 ♦UHHC-m-Sfwr *VSI a*n bolti Nonti I West pot VESSEL VOY KG
      983 words
    • 684 25 WEEKLY EXPRESS SAILING SCHEDULE lALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTsI vessel I vor |sw I pjoamgl coiotao n sky* 1 Colombo I S felllisliSliSUsi AISO ACCEPTMG Fd TO OXNN. Tvnconi (VIA coumk» and KANDU t GO* (VIA N SHTVAJ CONNKTMG MOTHB VBS TO UOK (FHJXSTOWI ROTTERDAM. hWCI
      684 words

  • Page 26 Advertisements
    • 773 26 VUW WALLENIUS WILHELMSEN W website: http://www.2wglobol.tom vtssa vot iw SnT sav mi orTTnyc niw woel TALISMAN AfSM 320Tmh 6.4 M lIN POST 17/04 21/04 25/04 24/04 27/04 TARONGA AFSO7 320T0m 6.25 M I 01/04 22/04 30/04 04/0S 01/05 07/05 10/05 TAPKXA AfSM 4001 mm 6.3 M 09/04 04/05 13/05 17/05
      773 words
    • 504 26 voy sw pgu jfosa m fli_ CSF23OI POMP H/03 17/03 flfBK MB PAC MNPA 1427* 14/03 17/03 _ULUU iUI 2IUU 2UU PACOANOA 142SN 10/03 10/03 liJw3S»W CST 2301 OOW 10/03 10/03 I PACOANDA 142fN 10/03 20/03 VKffl m SK U Of 2301 OOttP 20/03 22/03 jgggj|| j?g TO PAC lAHOA
      504 words
    • 546 26 BSA^ MYANMA ■n FIVE STAR UNE (Myanmar Notional Um) Loading for Yangon VESSEL VOY SIN PKI PIN PGU PAGAN 341W SU) HPA-AN J3OW SID IN MALAYSIA: INSTEAD SHIPPING AGENCIES KUL/PRL: 03-JOOSAJM PIN: 04-26JJ115 ACCEPTINB CONVENTIONAL C6O HKG SM HKG SW PGU PU KUC LION HEART 129 SU) SU) SU) MARINE
      546 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 6552 27 ETA ETA Advarttor VmmI Voyag* Tahphom ETA ETA ktnrtkm VomI Varna Tili»hm Nam* HW >| P**",, "fif*,,,, f t )r 09/05 1MB WWl TBN AM505 *****033 To ABIDJAN (ABJ) 2003 Cote D'lvoire To DUNKERQUE (DKK) 2695 Franc* 24/03 30/04 China Shpg PERTH BRIDGE 076A
      6,552 words

  • PROPERTY
    • 1607 28  -  With occupancies and arrivals up last year, hotel operators in the region are in a position to take advantage of the trends and achieve rate growth, says SCOTT HETHERINGTON SCOTT HETHERINGTON HOTELS in the (egion mostly enjoyed a better year in
      1,607 words
    • 597 29  -  Aussie official says what works for Sydney may not work for S'pore Reports by ARTHUR SIM IT took the people of Sydney six years to decide if they really wanted a casino in their midst. This was revealed by Bob Deacon, general manager of
      597 words
    • 789 29 SINGAPORE should evolve to become more of a "multi-destination place" with different parts of the city serving different needs of the community, said Marilyn Jordan Taylor, partner and former chairman of Skidmore Owings Merrill (SOM), one of the world's largest architectural firms. "What is exciting
      789 words
    • 1282 29 Brought to you by HSBC -u-% v r- *£J&3 PROJECT NAME/ PROP CONTRACT TENURE BUUT-MftAND PRICE PSF STREETNAME TYPE tftft AREA'SQFT) CI'OOO) (S$) District01 jj '<5 fi§ NON-LANDED People's Park Cplx ul*$ Apt 05/02/2005 99 463 I 180 389
      1,282 words
  • Page 28 Advertisements
    • 194 28 FOR SALE BY TENDER 9 Scotts Road (Pacific Plaza) JMI 12-storey prime freehold retail cum commercial building Jfc if with basement carpark Opposite Grand Hyatt Singapore am J Gross Floor Area: approx. 117,677 sft r JB Net Lettable Area: approx. 82,328 sft T Prominent corner of Scotts Road and Claymore
      194 words
    • 131 28 hem H *4 I A SiCkiutolulesUmii jp^ 60 Reasons To Feast SI Chuan Dou Hua offers you 60 tempting reasons to indulge. Savour delectable dishes in our popular '60 Dishes Deluxe Feast' such as Braised Shark's Fin Soup with Crabmeat, Shredded Pork with Garlic Chilli Sauce and many more. Lunch:
      131 words
    • 124 28 FOR SALE BY TENDER 11 COLLYER QUAYTHE ARCADE #10-00 Prime strata office floor at Raffles Place RNK, H 746 sq m 8,030 sq ft 99-year leasehold j Tender Closing; 6 April 2005 H (Wednesday), 300 W For enquiries and tender documents, please contact: ■MHN H Tay Liam Hiap 6531 8616
      124 words
    • 53 28 I Avdr£ j! Casual Prtneh Dining J> r Frerich set lunch 2 Course $16.90+ J \i 3 Course $19.90+ > {J Add $1 for coffee/tea 3] I jt French set dinner 3! f 3 Course Q $38.90+ 3 < (inclusive of juices+coffee or tea) y < *< j 66 Tanjong
      53 words
    • 40 28 MERITUS MANDARIN SINGAPORE CANTONESE CLASSICS Reservations: Many *****262/66 Em CHINESE fyi RESTAURANT MERITUS MANDARIN 'iVi'ik A div Won oi Overseas Union Enterpnse Limited (Company Registration No. *****0050E) 333 Orchard Road, Singapore *****7. Tel: +65 6737 4411. Fax: +65 6732 2361.
      40 words

  • Page 29 Advertisements
    • 115 29 I i Got the right home? Now get the right home loan. i .JIJI Buying a house in Singapore is a heavy investment Hw«ver f you can still have the freedom to live life the way you want with HSBC home loena. Enjoy theae benefits when you take up an
      115 words

  • BizIT
    • 594 30  -  Its regional chip testing facility here has been completed, reports ROLAND LIM ROUND LIM XILINX, the world's largest supplier of programmable chips, will begin shipping its chips from Singapore to its regional customers from early April, Wim Roelandts, president and chief executive officer
      594 words
    • 327 30  -  By ROLAND LIM APPLE fans, take note The Woz is coming to town. Steve Wozniak, "Woz" to his legions of admirers, co-founded Apple Computer with Steve Jobs, designed Apple's first line of products, the Apple 1 and 11, and subsequently influ: enced the
      327 words
    • 790 30  -  By AMIT ROY CHOUDHURY MORE customers are calling up contact centres for help to resolve problems and they are expecting their queries to be answered faster than ever before. At the same time, they are not willing to wait as long
      BLOOMBERG  -  790 words
    • 760 30 Debate on whether to make it harder for patent owners to assert rights Bloomberg [WASHINGTON] Intel Corp's David Simon, chief patent counsel for the world's biggest computer chipmaker, recalls when he used to get only about five letters a year from people accusing Intel
      Bloomberg  -  760 words

  • Page 31 Advertisements
    • 389 31 J- Samsung Preferred Partners Outlets: CENTRAL Trends Trendies (Samsung Shop) Plaza Singapura #82-28 Tel: 6238 7911 AHDeal Burlington Square #01-02 Tel: 6334 5133 Citilink United Square #81-38 Tel: 6253 0618 Handphone Inspiration Cineleisure #81-07 Tel: 6733 4639 Handphone Shop Le Meridien #01-06 Tel: *****195 Handphone Shop Suntec City Mall #01-136
      389 words

  • Page 32 Advertisements
    • 1988 32 Advertising feature Sing Tel EXPAN-Sun Microsystems tie-up on managed hosting services will free enterprises from the need to invest heavily on IT management A network to rely on Written by FROST A SULLIVAN professional data centre engineers. Ser- prises understand the advantages of this f 0 providing a highly vtae
      1,988 words