The Business Times, 27 April 2005

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Total Pages: 32
1 32 The Business Times
  • 17 1 THE BUSINESS TIMES SINGAPORE 85 cents MICA (P) 089/03/2005 online at http://business-times.asia 1 .com.sg Wednesday April 27.2005
    17 words
  • 742 1  -  But analysts split on value of a change of guard By JOYCE KOH [SINGAPORE] New management could take over at mobile phone services provider Accord Customer Care Solutions (ACCS) when a new investor comes in, sources say. They reckon new blood is vital if ACCS
    742 words
  • 136 1 STI 2,149.64 (+12.25) ST INDEX FUTURES 2,150.00 (+17.00) siMsa 254.60 (+1.36) SIMSa FUTURES 254.70 (+1.80) MARKETS Tuesday Change KLSE COMP 872.43 +0.45 NIKKEI 225 11.035.83 -37.94 HANG SENG 13,859.58 +109.35 SET INDEX 662.13 -2.34 JAKARTA COMP 1,031.768 +11.893 MANILA COMP 1,858.14 -2.42 SEOUL COMP 944.46 -1.71 SHENZHEN 8
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  • 598 1  -  Chief Justice dismisses action with costs By WONG WEI KONG [SINGAPORE! Tycoon Oei Hong Leong has lost his appeal over his libel suit against Nat Steel director David Ban, 98 Holdings, Singapore Press Holdings and former Business Times journalist Catherine Ong over a BT
    TERENCE TAN/ST  -  598 words
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  • TOP STORIES
    • 534 2  -  Amicable settlement of land reclamation dispute augurs well for other issues By DANIEL BUENAS SINGAPORK and Malaysia yesterday signed an agreement that ends a costly three-year dispute over land reclamation by Singapore in the Johor Strait. The agreement hailed as a milestone in bilateral relations
      Source: MFA  -  534 words
    • 710 2  -  By KALPANA RASHIWALA [SINGAPORE] A tender that closed yesterday for a landmark 99-year-leasehold condominium site on Sentosa Cove attracted eight bids, sources say. The bidders are residential property heavyweight Far East Organization; an entity controlled by members of the Kwee family that
      ARTHUR LEE  -  710 words
    • 298 2  -  He meets M'sian PM, DPM, Malay paper journalists By CHUANG PECK MING in Kuala Lumpur WITH ties between Singapore and Malaysia being already warmer, Singapore Minister Mentor Lee Kuan Yew and Malaysian Prime Minister Abdullah Badawi spoke yesterday about finding ways to
      LIANHE ZAOBAO  -  298 words
    • 380 2  -  Q1 growth likely to be around weak 2.4% flash estimate By ANNA TEO ISINGAPORE] Industrial output particularly electronics rebounded in March but was still down from February in a third consecutive monthly decline. And this suggests that first-quarter gross domestic product
      380 words
    • 510 2 Macquarie Bank unit looking to raise $730 m in S'pore IPO AUSTRALIA'S Macquarie Bank could soon have Singapore's largest share offering in two years, creating Asia's first listed infrastructure fund. Its Macquarie International Infrastructure Fund is looking to sell at least 730 million shares at $1 each. COMPANY
      510 words
    • 364 3  -  JP MORGAN CHASE CORPORATE CHALLENGE Major corporate event draws over 9,000 participants this year By CHEAH UI-HOON [SINGAPORE] Shenton Way types will swap their ties and tight skirts for trainers and shorts tonight when they hit the road for the 5.6 km JP
      364 words
    • 350 3  -  By LIZA LIN [SINGAPORE] These corporate high fliers are about to be put through a gruelling test and we're not talking about company restructuring. Tonight they will pit themselves against other senior executives in in a 5.6 km race. Runners in
      350 words

  • Page 3 Advertisements
    • 191 3 rL f liiiir r'"■•* s i- y '$£<' k -y *w IEVv The American Express* Singapore Airlines KrisFlyer Gold r ''fAfe yto Mm ycr your holidays to everyday you use closer to your dream more KrisFlyer miles* the Card offers the best earn rate ffflsßljui SL. town. Apply today and
      191 words

  • COMPANY NEWS
    • 443 4  -  FOREIGN FUNDS 3i among those boosting presence, sees more GLC spin-offs, opportunities By JOYCE KOH PRIVATE equity is set to take off in Asia with big institutional players beating a path to the region, and Singapore is likely to benefit
      443 words
    • 302 4  -  By LIZA LIN LISTING is part of the "itinerary" for local travel company Anglo-French Travel (AFT). Since becoming a unit of China Xpress, a subsidiary of Hong Kong-based investment company China Credit Holdings, AFT has been exploring an IPO launch in three years
      302 words
    • 418 4  -  Preliminary prospectus just lodged with MAS By MICHELLE QUAH AUSTRALIA'S Macquarie Bank could soon have Singapore's largest share offering in two years, creating Asia's first listed infrastructure fund. Its Macquarie International Infrastructure Fund (MIIF) is looking to sell at least 730
      418 words
    • COMPANY BRIEFS
      • 85 4 KEPPEL Kazakhstan, a unit of Keppel Corporation through Keppel Offshore A Marine, has secured a contract estimated at US$ 150 million from Agip Kazakhstan North Caspian Operating Company. The contract is to fabricate pipe racks and build four barges. Upon completion, they will support the
        85 words
      • 70 4 SINGAPORE Press Holdings (SPH) has announced that Arthur Seet Keong Hoe will be relinquishing his post of executive vice-president, finance, with effect from Sept 1. He will be re-designated as executive vice-president, special duties, and continue as chairman of SPH Magazines. His new responsibilities include
        70 words
      • 69 4 MAlNBOARD-listed Sinomem Technology, a leading membrane-based process and engineering technology company, has appointed Robin Lin Lu Ping as its executive director and chief financial officer, effective from yesterday. Mr Lin will be responsible for finance, marketing and human resource functions and will report to Sinomem's
        69 words
      • 52 4 FURNITURE maker Koda has announced that it has received in-principle approval from the Singapore Exchange for an upgrade of its scrip to the SGX mainboard. l)MX Technologies Group has also been granted in-principle approval to be upgraded to the mainboard. Trading of DMX's Shares
        52 words
    • 406 4  -  By LIZA LIN WINE has become the next beverage of choice for mainboard-listed Auric Pacific Group. The group, already the distributor of drinks such as Berri Juice and Twin Cows dairy products, plans to invest up to $5 million to
      ARTHUR LEE  -  406 words
    • 569 4  -  HOCK LOCK SIEW By VEN SREENIVASAN IT'S not a deal that set the market buzzing. But in its 19th joint venture so far, SIA Engineering this week signed a US$l2.6 million deal with USbased aerospace hydraulic equipment specialist Parker Hannifin Corporation's Parker Aerospace Group to
      569 words
    • 675 4 COMPANY MEETING PLACE DATE TIME HLAsia A M Hotel Singapore, Banquet Suite, Level 10, 81 Anson Road 28-Apr 3.00pm Haw Par Corp A 80 Raffles Place, 61st Storey, UOB Plaza 1 28-Apr 3.00pm Natsteel A Raffles Marina Ltd, 10 Tuas West Drive 28-Apr 2.30pm Natsteel E Raffles Marina
      675 words
    • 671 5  -  Minorities question chairman on return of funds to shareholders By ANGELA TAN OVERSEAS Union Enterprise (OUE), the hotel property company controlled by Wee Cho Yaw's United Overseas Bank, will need $200 million for the redevelopment plan for Overseas Union House, which may include
      FILE PHOTO  -  671 words
    • 186 5 THE court has adjourned for two weeks the hearing on the alleged non-disclosure of the late Khoo Teck Puat's stakes in several listed companies. Earlier this month, two of Mr Khoo's daughters, Jacqueline Khoo, 42, and Elizabeth Khoo, 45, were charged with failing
      186 words
    • 376 5  -  Q1 RESULTS By RONNIE LIM AH hK a slow January, a pick-up in February and March helped Singapore Petroleum Co chalk up reasonably good first-quarter numbers. The company, part of the Keppel Group, saw net profit rise 73.7 per cent
      376 words
    • OTHER RESULTS
    • 473 7  -  With a $100m cash hoard, it eyes Australian, other acquisitions next By ARTHUR SIM TSANG Jat Meng has reason to be happy. The CDL Hotels New Zealand general manager says there was 71 per cent occupancy in its 29 hotels last year.
      473 words
    • 222 7  -  By JOSEPHINE TAY MAINBOARD-LISTED Bio-Treat Technology has just scored another build-operate-transfer (BOT) deal worth about 179 million yuan (5535.6 million). Coming shortly after two BOT contracts worth 178 million yuan, in Suqian City, this contract will be carried out through Jiangdu Yunjian Water Network Company,
      222 words

  • Page 5 Advertisements
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  • Page 6 Advertisements
    • 140 6 Opportunity >•_.;' ."V 7 ;jV" Finance Awards 2009 Best Islamic Real Estate Finance House BMESEIM rC Islamic Finance Awards 2004 f N Gulf Finance House /*V Sl >! r V' V Most Innovative %L S/ Partnerships for Finance (j y* ouse R&c Your Premier Global Islamic Investment Bank Tel +973
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  • Page 7 Advertisements
    • 923 7 <AGL AusGtoup Limrtsa AusGroup Limited (Incorporated in Singapore on 9 October 2004) (Company Registration N0.*****3014R) invitation in respect of 52,000,000 Invitation Shares of 550.05 each comprising 45,000,000 New Shares and 7,000,000 Vendor Shares as follows:(a) 2,000,000 Offer Shares at 550.22 for each Offer Share by way of public offer; and
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  • SINGAPORE MARKETS
    • 895 8  -  CURRENCIES Untidy spell ahead, with holidays up north, Fed meeting and US jobs number LARRY WEE Senior Correspondent THE Chinese yuan and resurgent commodity prices replaced Wall Street worries as key currency movers by last week's close. But we are in the camp
      895 words
    • TRADES TO WATCH
      • 391 8 OSIM International is continuing to increase its stake in Global Active. On Monday, the company bought about a million Global Active shares. It picked up 182,000 shares from the market at 22.99 cents each and got 824,800 shares from acceptance of its
        391 words
      • 97 8  - Jardine C&C purchases 8 ,897,000 Astra shares Compiled by AMIT ROY CHOUDHURY JARDINE Cycle Carriage Ltd announced yesterday that it purchased on Monday 8,897,000 shares in PT Astra International, Indonesia's biggest automobile distributor, at about 10,602 rupiah a share or about US$9.7 million. The Astra purchase has increased Jardine C&C's
        97 words
    • Article, Illustration
      427 8 OTHER SINGAPORE INDICES Apr 26 VALUE CLOSE BT OB/OS -399.00 +99.00 BTCADI -*****.00 +4.00 BT 10-day MA -*****.00 -40.00 AH-SG Equities 553.83 +2.63 SG Equities Elect 128.00 -2.69 SG Equities Fin 1627.69 +8.19 SG Equities Prop 567.48 +3.55 SIMSCI 254.60 +1.36 SiMSCI Futures 254.70 +1.80 MOST ACTIVE STOCKS VOLUME UniFiber
      427 words
    • 280 8  -  Compiled by JOYCE KOH Asiatravel.com April 26 dosing: 23.5 cents DBS VICKERS SECURITIES. April 26 AFTER visiting Asiatravel.com's new management, we believe that FYOS will be a rebuilding year. The new CEO, Ong Nai Pew, needs time to rebuild areas that have hit operational hiccups, reinforce working areas
      280 words
    • 440 8  -  STOCKS R SIVANITHY Senior Correspondent IT is by now a familiar sight, one that punters have grown accustomed to seeing almost on a daily basis the Straits Times Index (STI) gyrating because of a play on a small number of stocks. Also familiar was the
      440 words
    • 304 8  -  CHART POINT By LIM SAY BOON, KEN TAI OCBC Investment Research THE expected market rebound is continuing, but the body of technical evidence remains weighted towards further downside in coming weeks. Last week, we allowed for the possibility of a rebound. But we cautioned
      304 words

  • SINGAPORE NEWS
    • 588 9  -  Responsiveness to citizens among factors rated highly in Accenture study of 22 countries By RAJU CHELLAM SINGAPORE'S government services and responsiveness to citizens are among the best in the world, according to a study by consultancy firm Accenture. Singapore and Denmark were ranked
      588 words
    • 425 9  -  By SIOW LI SEN GULF Finance House is about to team up with two groups of Singapore partners to promote and operate its billion-dollar projects, its chief executive Esam Y Janahi said yesterday. Mr Janahi, who is also in town for the World Economic
      425 words
    • 335 9  -  By CHEN HUIFEN THE story of the phoenix is very old, having been told and retold over the centuries. There are many versions but all tell of how the mythical bird dies in flames, only to arise anew from its very ashes. Today, to celebrate
      335 words
    • 233 9 SINGAPORE Institute of Management (SIM) is planning to use $70 million of its $170 million reserves as a start-up fund to form the country's fourth university. The institute yesterday announced detailed plans for its restructuring and explained its plans for SIM
      233 words
    • 330 9  -  By ALEXANDRA HO THERE is one fewer contender in the integrated resort race. US-based Argosy Gaming has pulled out, citing its impending merger with another casino company, Penn National Gaming. This leaves 13 consortiums in the running for the two IR sites
      330 words
  • Page 9 Advertisements
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      137 words

  • ECONOMY WATCH
    • 404 10 LATEST US DATA But intention to buy homes and major appliances rose, job outlook darkens Reuters Bloomberg INEW YORKI US consumer confidence deteriorated in April to its lowest in five months as higher petrol prices left Americans uncertain about their economic prospects,
      Reuters; Bloomberg  -  404 words
    • 378 10  -  By AL LABITA in Manila (MANILA] Foreign funds defied the Philippines' fiscal woes, pouring money into an equity market buoyed by new initial public offerings (IPOs) and a stabilising peso-dollar exchange rate. From Jan 1 to April 1, net inflows of foreign portfolio
      AFP  -  378 words
    • 365 10 Reuters [TOKYO] Japanese consumer prices fell for the seventh straight year in fiscal year 2004/05, fuelling expectations that deflation will persist for another year and keep the Bank of Japan's easy monetary policy unchanged for a while. The nationwide core
      Reuters  -  365 words
    • 42 10 UNIT TRUSTS FUNDS LEGEND: All prices are indicative; Broadly Diversified; Narowly Focused; S Lower Risk; Low to Medium Risk: Medium to High Risk; Higher Risk; open-ended; Before subdivision of units; After subdivision of units; SP after stock split; N.A. Non Dealing Day
      42 words
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  • MALAYSIA/INDONESIA
    • 415 12 Doubling trade to US$200b before 2010 achievable: Hu Jintao AP Bloomberg [JAKARTA] China, Asia's second-biggest economy, wants to double its trade with South-east Asia within five years, President Hu Jintao said. Trade between China and the 10 members of the Association of South-east
      AP; Bloomberg  -  415 words
    • 274 12 AP [KUALA LUMPUR] Divers yesterday recovered the body of a 52-year-old Malaysian millionaire who went missing while snorkeling off northern Borneo. Police and relatives had launched a massive air-and-sea search operation for businessman Lam Nyet Khiong, who went missing on Sunday in the Sulawesi Sea off Lahad
      AP  -  274 words
    • 520 12 Part of proposal under renewed consideration; construction industry could get a boost Reuters [KUALA LUMPUR] Malaysian Prime Minister Abdullah Ahmad Badawf may revive part of a RM14.5 billion (556.3 billion) rail project that he shelved in 2003 to slash the budget deficit, an official
      Reuters  -  520 words
    • 280 12 Reuters [LONDON] British casino firm London Clubs International said on Monday that Malaysian shareholder Genting had built up its stake to just below the point at which it must launch a takeover bid. Casino group Genting has been progressively building its stakes
      Reuters  -  280 words
    • NOTE BOOK
      • 75 12 Reuters [TAIPEI] TSMC, the world's largest contract microchip maker, yesterday posted a 10.5 per cent fall in first-quarter profit after weak demand led to a global chip glut. The result was Taiwan Semiconductor Manufacturing Co's worst in five quarters. TSMC reported January-March net profit of NT516.82
        Reuters  -  75 words
      • 106 12 Bloomberg [JAKARTA] PT Bank Negara Indonesia, the nation's third-largest lender, said first-quarter profit rose 19 per cent as it made more loans and had lower loan loss provisions. Unaudited net income in the three months ended March 31 rose to 911.5 billion rupiah (S$ 159.5
        Bloomberg  -  106 words
      • 55 12 AP [KUALA LUMPUR] Malaysia will stop providing free treatment in government hospitals because of spiralling costs. Health Minister Chua Soi Lek was quoted as saying by the New Straits Times that beginning next year, some 8 million Malaysians who use public hospitals will have to
        AP  -  55 words
      • 74 12 Bloomberg [KUALA LUMPUR] Hong Leong Bank Bhd, Malaysia's sixth-largest lender, said it will start a full-fledged Islamic bank after it received central bank approval for the plan, which includes an asset transfer. Th< lender will transfer assets and liabilities worth RM343 million (*****.5 million)
        Bloomberg  -  74 words
    • 4 12
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  • GREATER CHINA
    • 626 14  -  CHINA INSIGHT Soaring imports from China sparks talk of renewed quotas JEAN CHUA Reporter Since the beginning of the year, manufacturers of textiles in the US and European Union have been scared out of their pants, so to speak, by Chinese
      626 words
    • 491 14 Bloomberg AFP [BEIJING] China's government says a European Union investigation to decide whether to restrict textile imports from China violates World Trade Organization (WTO) rules in a spat threatening US$llO billion worth of trade. China will raise an official complaint about the
      Bloomberg; AFP; Source: Eurostar, Reuters  -  491 words
    • 311 14  -  By JEAN CHUA TRADE ties between Singapore and China's Zhejiang province received a boost yesterday when three separate deals were inked. One was between IMC Group and Yongyue Group, which will set up an US$BO million shipyard in the port city of Zhoushan
      311 words
    • 423 14 SINGAPORE may make it easier for companies from the Chinese province of Zhejiang to list on the Singapore Exchange and "expedite the listing process", said Second Minister for Finance and Foreign Affairs Raymond Lim. "This is still in the exploratory stage," he
      423 words
    • 179 14 AP [SHANGHAI] Bringing China's skyrocketing real estate prices under control is a "major task", a top Chinese economic official said, signalling that authorities will persist in their market control measures. Vice-Premier Zeng Peiyan urged local officials to do more to stabilise housing prices following
      AP  -  179 words
  • Page 14 Advertisements
    • 272 14 ¥*T1 a J# J i i_ Presented tikDiners Club Credit Card To apply, caJL 6416 0980 I Where to wine, dine and entertain,., privn< es Iltfi Fresh jobs everyday Read our newspapers for a fresh set of jobs everyday! MERITUS MANDARIN SINGAPORE BUFFET DINING AT ITS BEST Fresh oysters, delectable
      272 words

  • INDIA
    • 580 15 But there will still be steady, though slower, growth in the long run AFP [MUMBAI] India's vaunted software companies have ridden the boom and bust of a volatile tech sector to produce bumper results year in, year out for the
      AFP; Source  -  580 words
    • 361 15 Reuters [MUMBAI] India's privately owned BPL Mobile Communications Ltd is negotiating to sell up to 40 per cent stake to a strategic partner to help boost its business in the world's fastest growing cellular market, the company said. BPL, which
      Reuters  -  361 words
    • 492 15 Reuters [BOMBAY] Key Indian drug makers are set to report lower quarterly profits this week due to tax changes in the domestic market, higher drug development costs, and unrelenting competition from overseas. Margins will remain under pressure for the next few quarters
      Reuters  -  492 words
    • 278 15 Bloomberg [MUMBAI] Indian investor Rakesh Jhunjhunwala, the single biggest shareholder in Crisil Ltd, the country's largest rating company, said he sold a 5.5 per cent stake to Standard Poor's (S&P). Mr Jhunjhunwala owned shares equivalent to 14.3 per cent of
      Bloomberg  -  278 words
  • Page 15 Advertisements
    • 1317 15 F Global Corporate Services 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 field in foreign direct investment Our
      1,317 words

  • ASIA-PACIFIC/WORLD
    • 613 16 Profits are falling after double-digit growth in the last three years Reuters Bloomberg [TOKYO] A rush of earnings reports yesterday showed that Japanese companies are coming out with rather conservative results after they posted double-digit growth in the last three years. Honda Motors had a
      Reuters; Bloomberg; AFP  -  613 words
    • 361 16 AP NYT [TOKYO] Toyota chairman Hiroshi Okuda has urged Japanese car companies to consider raising prices or finding some other way to give ailing US rivals General Motors and Ford Motor Co a boost. He was quoted by Japanese media yesterday as
      AP; NYT  -  361 words
    • 497 16  -  By NEIL BEHRMANN in London [LONDON] Asian manufacturers are relieved that the relentless climb in raw materials prices has peaked in recent weeks. A surge in speculation pushed oil, metals and other commodity prices to new heights in the first quarter of this year,
      497 words
    • 368 16 Bloomberg [FRANKFURT] Infineon Technologies AG, Europe's biggest semiconductor company, had a quarterly loss on lower sales and costs to reorganise, and said it sees "no major improvement" in demand this quarter. The shares dropped 4.5 per cent. The net loss in
      Bloomberg  -  368 words
    • 192 16 Bloomberg [MOSCOW] Mikhail Khodorkovsky, the Russian billionaire facing 10 years in prison, may be acquitted on charges of tax evasion and fraud today, after President Vladimir Putin said "tax terrorism" must stop, said presidential aide Andrei Illarionov. "The cotfrts may free from tax terrorism two
      Bloomberg  -  192 words
  • Page 16 Advertisements
    • 239 16 CONDUCTED BY: DR. MICHAEL JOHN MAWDEBLEY DR. VICKNAYSON THEVENDRAN I Director, Sottinghm Centre for Infrastructure, I'K Risks System Mmgemt Engineer, Costtin Group Pic, UK IZth May 2005 M Hotal Singapore *aam-spm*SSß9onettp«rp«x Icourse contents! OVERVIEW OF THE CONSTRUCTION INDUSTRY AND RISK > Individual Stakeholders] Risks in Construction > Introduction to the
      239 words

  • WORLD
    • 537 17 EXCHANGES UNDER FIRE LAT-WP NYT [NEW YORKI A fledgling effort to buy the New York Stock Exchange, and potentially derail its acquisition of an electronic rival, gained steam on Monday as a top Wall Street figure joined a campaign launched by former
      LAT-WP; NYT; BLOOMBERG  -  537 words
    • 319 17 Analysts say shareholders short-changed Reuters [NEW YORK] It is not only the New York Stock Exchange's deal to buy Archipelago that is under fire. Analysts are questioning the deal by rival Nasdaq to purchase Instinet. On Monday they pressured Instinet Group's chief executive Edward Nicoll
      Reuters  -  319 words
    • 559 17 It now owns about half the Strip's hotel rooms, 40% of slot machines AP Reuters Bloomberg [lAS VEGAS] MGM Mirage and Mandalay Resort Group have completed their merger, closing a longawaited deal that creates a combined company with about US$7 billion in revenue
      AP; Reuters; Bloomberg  -  559 words
    • 562 17 AP [PARIS] The woman in Robert Doisneau's classic photograph of a couple stealing a passionate kiss on a Paris street sold her original print for 155,000 euros (*****,000) at an auction on Monday about 10 times the expected sale price. The Kiss at City
      AP; REUTERS  -  562 words
    • 372 17 NYT [NEW YORK] The family that founded the Adelphia Communications Corporation, the big cable operator, will forfeit almost its entire fortune to pay for a US$7l5 million fund to compensate investors who lost money when the company collapsed, the government said on Monday.
      NYT  -  372 words
    • 249 17 Bloomberg [LONDON] BP pic, the world's second-largest publicly traded oil company, posted a 29 per cent jump in first-quarter profit to a record because of higher energy prices. Chief executive John Browne said oil demand remains "strong". Net income rose to
      Bloomberg  -  249 words
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  • AVIATION
    • 819 18 It places order for 32 Boeing aircraft with options to purchase 64 more AP [TORONTO] Fresh out of bankruptcy, Air Canada will spend at least US$6 billion to burnish its image and operations by purchasing new Boeing aircraft that are more modern
      AP; AFP  -  819 words
    • 397 18 AIRLINE CODES: AA: American Airlines (AAL), AF: Air France (AFR), AI: Air India (AK), AY: Finnair Oy (FIN), AZ: Alitalia Airlines (AZA), BA: British Airways Public Ltd Co (BAW), BG: Biman Bangladesh Airlines (BBC), BI: Royal Brunei Airlines Sdn Bhd (RBA), BO: Bouraq Airlines (BOU), BR:
      397 words
    • LOG BOOK
      • 72 18 Bloomberg [HONG KONG] China Airlines, Taiwan's largest carrier, said it will cooperate with Air China Ltd on customer loyalty programmes, the Taiwan airline's second such alliance with a mainland carrier. Starting May, members of China Air's frequent flyer programme will be able to accumulate
        Bloomberg  -  72 words
      • 61 18 AFP i [MANILA] The Philippines and Iran will begin talks next month to open direct air links, an aviation official here said yesterday. The countries hope to establish in4he May 7-9 talks a basic air agreement that would encourage their flag-carriers to
        AFP  -  61 words
      • 61 18 Bloomberg [SAO PAULO] Empresa Brasileira de Aeronautica SA, the world's fourth-biggest aircraft maker, got a US$4OO million order for 15 commercial aircraft from Saudi Arabian Airlines. Saudi Arabian, based in Jeddah, ordered 15 Embraer 170 aircraft, with delivery starting in December, Embraer said in
        Bloomberg  -  61 words
    • 422 18 Reuters [HONG KONG] China Southern Airlines Co Ltd, the country's largest carrier, yesterday posted a surprise loss for the second half of 2004, as costs soared, making it the only major Chinese airline to fall into the red last year. "Now we expect
      Reuters  -  422 words
    • 419 18 Reuters [CHICAGO] A deal that may allow bankrupt United Airlines to dump its four employee retirement plans on US pension insurers solidifies the company's goal to exit Chapter 11 protection this year, chief executive Glenn Tilton said. Mr Tilton said in
      Reuters  -  419 words
    • 231 18 AP [MANILA] Jetstar Asia Airways, the low-budget carrier operated by Australia's Qantas Airways Ltd, will become the third discount airline to operate in the Philippines, servicing the Manila-Singapore route, the company said yesterday. Jetstar Asia chief executive Ken Ryan said he
      AP  -  231 words
    • 203 18 Reuters [ROME] The European Commission has given initial approval to a rescue plan for struggling Italian airline Alitalia, a source familiar with the matter said. "There has been initial technical approval from Brussels, but now the case has to go to the commission
      Reuters  -  203 words

  • SHIPPING
    • 953 19 He says market for dry-bulk carriers may provide best investments Bloomberg [SINGAPORE] Oil tanker rates woould not return to November's record levels as more ships are launched, according to Helmut Sohmen, who controls the world's largest closely held shipping company, World-Wide Shipping
      Bloomberg; FILE PHOTO  -  953 words
    • 238 19 Reuters [SHANGHAI] China's China International Marine Containers Co Ltd (CIMC), the world's largest maker of shipping containers, posted a near five-fold jump in quarterly earnings as orders surged alongside booming international trade. CIMC, an arm of ports-to-roads conglomerate China Merchants Holdings, said net
      Reuters  -  238 words
    • 294 19 SGX '000 Apf 26 SS +1- Vol CH Offshore 0.35 0.01 470 ChuanHup 0.72 -0.01 128 Cosco Corporation 1.76 unch 4588 CWT Distribution 0.62 unch 10 Ezra Hldgs 1.29 0.01 87 Freight Links 0.08 unch 350 Grand Banks Yacht 0.98 unch 0 Jaya Holdings 1.07 unch 102 K1
      294 words
    • Article, Illustration
      49 19 [JIANGSU, China] Ships sailing past the 1,490-metre-long Runyang suspension bridge over the Yangtze river in Jiangsu, eastern China. The bridge, No 1 suspension bridge in China and No 3 in the world, links Jiangsu's Yangzhou and Zhenjiang. The bridge will open on April 30. AP
      AP  -  49 words
    • 716 19 Bloomberg [SEOUL] Daewoo Shipbuilding Marine Engineering Co, the world's sec-ond-largest shipbuilder, said it had a loss in the first quarter because of rising steel prices. Daewoo Shipbuilding had a loss of 31.4 billion won (5551.75 million), the Seoul-based company said in
      Bloomberg  -  716 words
    • 944 19  -  STRAIT TALK By DAVID HUGHES THE second half of this decade is going to be a very interesting time for the tanker business, especially the VLCC (very large crude carrier) sector, which carries most of the world's crude oil to where it is needed.
      944 words

  • EDITORIAL & OPINION
    • 499 20 EDITORIAL AFTER 12 rounds of negotiations and a lot of "legal scrubbing", the Comprehensive Economic Cooperation Agreement (CECA) between Singapore and India is undergoing finishing touches. It is expected to be signed by June. And if companies on both sides fully leverage its provisions, it could
      499 words
    • 1250 20  -  The New Straits Times is getting a new breath of life after being outshone by the rival Star S JAYASANKARAN KL Correspondent THREE years ago, the New Straits Times was still No 1 in at least one department. It was, staffers said only halfjokingly, the newspaper
      NSTP  -  1,250 words
    • 776 20  -  THE BOTTOM LINE FRANK CHING LITTLE more than a month after China's passage of the Anti-Secession Law, the cross-strait situation has undergone a dramatic change. While there has been some negative fallout, with Taiwan delaying talks on expanding chartered flights between them
      776 words
    • 446 21  -  LETTER TO THE EDITOR Dewayne Wan Howe Yi Singapore SINGAPORE'S decision to proceed with the two integrated resorts (IRs) with a small gaming component has sparked a flurry of comments in parliamentary sessions as well as economic reports from various analysts.
      446 words
    • 1586 21  -  Prudence makes nations amass reserves but often other purposes quickly take precedence By RAMKISHEN S RAJAN ASIA'S appetite for foreign exchange reserves seems to be unrelenting. The region's international reserves (excluding gold) rose from US$4OO billion at the end of 1990 to U552,600 billion
      REUTERS  -  1,586 words

  • Page 21 Advertisements
    • 103 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletter@sph.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
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    • 74 21 A heart-warming gift from JOBIN Studio Line. J2 Swiss-made Music Box of precision craftsmanship, J3 Serenade your love with ever-lasting value. J3 91 (Dedication To Everyone jj JJ Trade Enquiry -T J1 Welcome -a -0 =)(=)3l[Mn JJ TRADITIONAI ARTS AND CRAFTS 'SINCE 183S n JOBIN STUDIO LINE n j- Hotline:
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  • Page 21 Miscellaneous
    • 344 21 CRYPTIC CROSSWORD ACROSS P rt (6 3 6) 6 Somehow at Corsica in the 1 Clouds over the nanny's bris- Caribbean (5,4) ties (5,4) 7 was Dame Olgri once leader 9 Take off alone (2,4) of Srae (5,4) 10 Trifling as I dance all around 8 Put the paper down
      344 words

  • 2547 22 SGX XTRANET 52-Wk T«i Last Vol Day Last Quote Grifcv Mv GrVM Net MCap High Urn Coda Cowyany Salt W- fOO) Low >«yr SoBor O Wt tmi ********** 6065 Diamonds USIOISOcd +«090 ***** ***** ***** 6095 IS DJ US Tech US3740 6097 ISMSCISpore US5S5 6101 ISS&PSOO US8270 6170
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  • 3398 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In kxal t«r» In It USJ dy yr %dy yr %dy %yr Apr 25 lnde« Cntny Chang* Oi»og« Chang* Chang* ChtrMf World lnde» Prelrminar) 839.0 0 6 -If 04 -2.' 0.4 -2.9 lAfi Preliminary 7791 02 M -02 12 -02 '•■rope Preliminary 1081
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  • Page 24 Advertisements
    • 2066 24 I TO USA/CANADA I I EXPORT I I OTHER DESTINATIONS I VESSEL VOY I PKG ETAS>W 10WGKACMI PA11AS1 HOUSTON MEMPHIS [CHICAGO I NEW YORK |l II TO AUSTRALIA (AUSTRALIA ASIA EXPRESS) 00CININGB0 09E17 26/04 27/04 13/05 19/05 20/05 18/05 18/05 21/05 VESSEL VOY PKG WE INI SYP Mfl AM OOCL
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    • 827 24 Ixtmasia roup mrvke vßsa/vor umm hbgmtmu to «h m m jct STUAITS EXPRESS 39 30 4.25 73/04 25/04 27/04 STRAITS VENTUtE 09/05 15 3.7 72/04 01/05 03/05 05/05 1 SHAHS VENTUKEIO/05 15 12 07/05 10/05 I AUSTRALIAN tOtO SERVICE 1 VBSayVOT I MMP(KT) 1 HBGHTtfK)I Ifl I [IT STP MB.
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  • Page 25 Advertisements
    • 1229 25 MOL Combines C a range of shipping modes Id ensure timely, reliable wrvicw coming major ports in Norm America, Europe, Japan, Asia, Africa Oceania. Abo Kcipt hrtra-Aski Cb|ns Ik BUSAN KWANGYANG SHANGHAI YANTIAN XIAMEN QMGOAO BEUWAN JAKARTA SURABAYA KAOHSRIHG BANGKOK lA£M CHABAHG wKHURIHH PASflt GMPAHG PBIANG MfT KHANG For Schedules,
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    • 1262 25 rasa m sin jkt hkg pih iwc kyh pus vessel voy sin jkt sut hug usn pus HYIKIDGt M3S M/ 4 _30/4_ _5/5_ _7/5_ VS_ H/5 KMT(SHANGHAI SMS 1/5 4/5 S/S 10/S 14/5 IS/S HY VLADIVOSTOK IMS S/S 7/5 IZ/S 14/5 It/5 1«/S l»/S KMTC POUT KELANG SQ6S 8/5 11/5
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    • 734 25 WEEKLY EXPRESS SAILING SCHEDULE I" ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS I vrssa voy Is« I pjoamgl coiotao I n sheva [colombo 1 I Il 11 I I I AISO ACCPTMC FQ TO COCNM. TUTKQRW (VIA OOUMMO) AND KAIUA t GOAI (VIA N SHIVA) CONNKTINC MOTHS WIS
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  • Page 26 Advertisements
    • 2203 26 VESSEL VOY SIN ECU VK*n Jffll SW »T PACIANPA 145W 29/04 29/04 WAKA»AB Mlj —2IM_ M/M CSF 2301 0113P 29/04 30/04 PAC IHTAM S2SI 03/QS 06/05 PAC lAHDA 1459N 30/04 01/05 CSF 2301 oi MP 01/05 02/05 IHHHTrTQn^^PnTIHHH PACBANDA 1460N 01/05 02/05 vtssa Yfil 55 DJ» CSF 2301 0115P 03/05
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    • 14 26 PLACE YOUR AD HERE The Business Times Shipping Times 9620 1327 )R 9675 0002
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    • 749 26 BSA x <I VIBsI I *n33TSfI I SRVS99VI SBfI^^HF MYANMA n FIVE STAR LINE (Mvomhot National Lint) Loading for Yangon VESSEL VOY SIN PILL PIN PGU PAGAN 341W SID HPA-AN 337W SU> IN MAUYSIA: IOUSTf AD SHIPPING AGiNCIIS KUI/PKL 03-*****388 PEN: 04-*****15 ACCEPTIIIB CONVENTIONAL C6O VESSEL VOT HKG SM PGU
      749 words

  • Page 27 Advertisements
    • 675 27 Guaranteed Sailing! I Service from Singapore to: I Los flnqeles Keelung I Weekly Consol. Twice weekly I 14 days transit. Mon Thurs cut-off I #MUR SHIPPING INDIAN OCEAN ISLANDS/SOUTH AFRICA j VESSEL TWU KK MIRI TGM SIN FK MTS REUNION DIN El K CT VOYAGER V 032 Soled Sailed Soled
      675 words
    • 891 27 FREIGHT LINKS EXPRESS PTE LTD -t«S3P 51 Penjuru Road, 3 Level, Freight Links Express Logisticentre, Singapore *****3. Tel: *****511 Fax: *****577 E-mail: flesin@singnet.com.sg Website:http://www.freightlinks.net LCL SERVICE TO CHINA ASIA CEBU DALIAN HONG KONG JAKARTA QINGDAO Hf JJW 1 Cl SHANGHAI SURABAYA XINGANG XIAMEN ■■If BEST LCL RATES TO AARHAUS ASHDOD
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    • 337 27 liner br»qkbulk tervitc S.I. Atio/USA vice vrto SPECIALISE IN HEAVY LIFTS A PROJECT CARGO WASAM Pwtfcttw MV INOUSTRIAI CBtTUIT 71/04 Yakakaa. la* iMdi/SttdlM. Vmmzmlg, iliw p*ti SINGAPORt Dwfcrtw MV MOUSTIUI CHARGER IS/OS Km Yriulw, la| Vnndi. Others ports in USA, Mexico, Carribean i South America on inducement. lINOtfOU MttiYlH Hiop
      337 words
    • 629 27 2785^w71/05FO^ISCHllGIN^ONl^§ ■PPIWI ERIC GIBSON 016 30-01/0S 06-08/05 13-13/05 1 HLiSmia DGER PEARL 279N 03 04/05 10 12/05 17 18/05 I TIGER SEA 2SON 06-07/05 13-15/05 20 21/05 1 ■■■■■TIGERSKY 281N 10-11/05 17-19/05 2425/05 UU TIGER WAVE 282ti 14 14/05 20-22/05 27-28/05 1 wTiiTnnMDONGFORnJNE 039 27-28/Q4FOR DISfHARGINGONLY M ■MMRMpHUTAN 314 27-28/04
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  • Page 28 Advertisements
    • 164 28 f Here's where 10,000 people will make 5.6k this evening. s'jU »*jv- a. ri 1 'i j* i^j'.'-',', j s J' ~j n All information correct at time of print. How, in only one evening, can they achieve this figure? Simple, they'll be taking part in the JPMorgan Chase Corporate
      164 words


  • MOTORING
    • 597 30  -  It chooses M'sia over Thailand to be location of 4th alloy wheel factory Reports by SAMUEL EE MALAYSIA, and not Thailand, was chosen as the site for YHI International's fourth alloy wheel factory because of its huge potential. The Singapore-listed tyre distributor and
      PHOTOS BY WILLIAM WHEY  -  597 words
    • 499 30 THE "right strategy" will ensure that YHI International can be the world's top maker of after-market alloy wheels by 2010. "By 2010, it will be possible to more than double our current production," said group MD Richard Tay. "I want to be the
      499 words
    • 386 30  -  By SAMUEL EE THE distributor for Singapore's topselling car marque is investing more than $6 million in after-sales to keep up with its No. 1 spot. Toyota, which has been the leading brand here over the past two years, has developed an "aftersales expansion
      386 words
  • Page 30 Advertisements
    • 142 30 HpQs jV v^|p^f!i^HBBsiB^PBBPH^^BBTW!BBHBff!I^MSW^B^B!IPMIPi^^^SS^^ M.: \fct Week Special I iJ y 25 to 29 April 2005 I \re I for a limited period only I Available for Buffet Lunch from I l Sl7.Bo+++ (C) for Buffet Dinner from I Skin care secrets and latest tips on this season's IflßjaK. J*** Wj&
      142 words

  • EXECUTIVE MONEY
    • 1160 31  -  MONEY MATTERS Don't count casino chickens just yet, and forget privately managed pension plans and infotech sector; but do tap oil sector JOSEPH CHONG IN the past week, the media has been filled with Singapore's decision to allow two resorts with casinos. Related to the casino
      1,160 words
    • 1179 31 Deutsche Bank gives some tips on how investors can shop for one according to their risk appetites STRUCTURED warrants have made their mark on the Singapore stock market, with value of trades making up 5 per cent of the total market turnover. And from
      1,179 words
    • 1070 31  -  ANGELA TAN and WINNIE LIEW show how companies can do this and optimise their cash flows YOU AND THE TAXMAN By ERNST YOUNG ANGELA TAN, WINNIE LIEW THE rise of international business means more payments between Singapore companies and non-residents. Sometimes, it pays to time these
      1,070 words
    • 958 32  -  More volatility seen in markets even as most asset classes turned in low or even negative returns in Q1, reports GENEVIEVE CUA GENEVIEVE CUA HOLD on to your hats. The first three to four months of the year have been anything but easy in
      Source: Standart & Poor's Fund Services  -  958 words
    • 752 32  -  By GENEVIEVE CUA SO you want yield? Here's a fund that gives you an annual yield, and that's it. Prudential's new Pru Yield 15 fund is a capitalprotected structure that will pay out 3 per cent a year. Unlike most other protected structures,
      752 words
    • 599 32  -  By GENEVIEVE CUA AFTER the technology bust, not many fund managers would stick their necks out to make an outright call for investors to buy their fund. But ABN Amro Asset Management's Friso Rengers, senior portfolio manager of the high-flying Resources Fund,
      AFP  -  599 words

  • Page 32 Advertisements
    • 143 32 Various plot sizes 9 Suitable for: «3jP*iPl■gjjgx high-tech manufacturing tes a^s product design development computer centres data processing/financial backroom operations software development ■jHHT industrial training centres ~JLWWF station and Singapore Changi Airport For more information, please contact Sim Ling 6883 3280 or Yee Fei 6883 3284 or call our Contact
      143 words
    • 9 32 Booster Capital Guaranteed Fund SGD RID 14/04/05 9.63 SGD
      9 words
    • 7 32 MONEY MATTERS Likely hits, potential misses PG3I
      7 words