The Business Times, 29 April 2005

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Total Pages: 34
1 34 The Business Times
  • 16 1 THE BUSINESS TIMES MICA (P) 089/03/2005 nyo !rffnts online at http://business-times.asia 1 .com.sg Friday April 29,2005
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  • 957 1  -  Shareholder returns up steadily since Asian crisis By DANIEL BUENAS [SINGAPORE] How does investing in the stock market actually compare to other investments, and which companies have given the best —and worst —returns over the last 10 years? According to an analysis by global
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  • 689 1  -  By AMIT ROY CHOUDHURY, CHLOE CHOY [SINGAPORE] In a decision that is expected to have a significant impact on the local infocomm technology (ICT) sector, the government said yesterday that it would standardise a major portion of the computer environment across all governmental
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  • Page 1 Advertisements
    • 31 1 ETHICAL LEADERSHIP MM Can S'pore stay corruption free? pg2 Ktm BT-LEK SHAREHOLDER SCORECARD Going the TSR way, Pg9 March of the big caps, Pgl2 Venture, Noble lead in shareholder returns, Pgl2
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    • 10 1 IRON LEGACY NatSteelname will stay PG6 MARKETS DIGEST PG 2
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    • 28 1 M HELLO, ST>OR^^H[ Dell moves R&D centre to S'pore W «w «t» PGI3 STOCK TRADING SGXsaysnoto circuit breakers K6 \><> -i'Al^yL^ii* 'vBSHBII -SR^^S^BMH < /V> A\\xtl///3^^^yy|^^*^*4=^^^^^^^^g |^vw>7Mj|Hng^^H S^bl/// t vJ^^F
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  • TOP STORIES
    • 702 2  -  Move will boost people-to-people contact help to improve overall ties Reports by CHUANG PECK MING in Kuala Lumpur MINISTER Mentor Lee Kuan Yew has suggested a partial lifting of a 30-plus-year ban on the sale of Singapore newspapers in
      REUTERS  -  702 words
    • 646 2 [KUALA LUMPUR] Can Singapore stay corruption free? That's the question Minister Mentor Lee Kuan Yew asked yesterday at an anti-corruption conference. And it's a question that's growing more important, because ethical leadership is the one "X" factor that still makes a key difference especially
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    • 402 2  -  By MICHELLE QUAH [SINGAPORE] Oei Hong Leong and The Business Times have reached a settlement on the businessman's libel suit against the paper over a caption that appeared under the report "CAD probe drags Informatics down 9.7%" on May 21, 2004.
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    • 606 2 Both sides claim victory in SingTel-StarHub suit A LEGAL spat between Singapore Telecommunications and Star Hub ended yesterday with both sides claiming victory after the High Court ruled that while Star Hub had breached a network lease agreement between the two telcos, Sing Tel was not entitled to
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    • 140 2 STI 2.140.24 (-5.10) ST INDEX FUTURES 2,141.00 (+1.00) SIMSCI 253.58 (-0.47) SIMSCI FUTURES 254.10 (+0.40) MARKETS Thursday Change KLSECOMP 873.85 +1.40 NIKKEI 225 11.008.90 +3.48 HANG SENG 13,909.42 +69.78 SET INDEX 659.24 5.39 JAKARTA COMP 1,038.36 +6.14 MANILA COMP 1,838.16 +7.84 SEOUL COMP 917.73 12.43 SHENZHEN B 254.95
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    • 661 4  -  High Court says SCV action not authorised, but adds it's not liable for damages By WONG WEI KONG [SINGAPORE] A legal spat between Singapore Telecommunications and Star Hub ended yesterday with each rival claiming victory after the High Court ruled that while Star
      FILE PHOTO  -  661 words
    • 667 4  -  WORLD ECONOMIC FORUM By ANNA TEO [SINGAPORE] With the rise of China and India as economic juggernauts, Asia has captured centre stage in the world economy, a forum heard yesterday. And the resulting realignment of economic power in the region
      AFP  -  667 words
  • Page 2 Advertisements
    • 180 2 m>v T W&> i** 1 '^2 r '■>* FJ^S itAlfllt 'M t ~jt T■* v 7 > A Bbfvl <• 'W *WSfeJ2f* /ftW 4 it |BjL, V iH^y Company Formation Foreign Direct Investment Virtual Offices Since 1975 OCRA Worldwide has been providing offshore incorporation and administration solutions for Asian and
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    • 234 2 6 Rosewood Sofa Set Rosewood .t Two Glass |R*" I Door Cabinet 11 Rosewood I JBI Hong Tan/Rosewood IrW Assorted Rower Stand Hong Jf n S< n 9' B or «aH H| Display Cabinet 11 HI JfT lB 2ZMt W—l y 2pes Hong Tan I Rosewood Altar Table u f,t
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    • 51 2 LJ 1 j OFBB p' THEONES i THAT FIT. U~ x Recruit the right people through The Straits Times Recruit. Call 1800 289 8822 or email -v j J recruit@sph.com.sq < x to advertise. rd r n- i j liimmn^ m Iflaa l II i IMI k\VI o i 1
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  • Page 3 Advertisements
    • 23 3 ■Hb K" IHHHHHHHHPII^H^i^^H BBnmawwwßlJß^KiniaJinim?nillfai^^^^Bfck iljjSHH%rtW its|*3B||^Hß|^^^^^^W ft— I ilg B H l«1 MM M [Wl»] lIMIUIIM «mb^M m B Introductory Offer V HH
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  • Page 4 Advertisements
    • 788 4 IKty.l.MI Corporation I Keppel Corporation Limited Co Reg No: *****0351N I (Incorporated in the Republic of Singapore) 1. UNAUDITED RESULTS FOR THE FIRST QUARTER ENDED 31 MARCH 2005 I The Directors of Keppel Corporation Limited advise the following unaudited results of the Group for the H first quarter ended 31
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    • 26 4 A catalyst for regional integration Haruhiko Kuroda, the new president of the Asian Development Bank, on the prospects for r w monetary integration in East Asia.
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  • Page 5 Advertisements
    • 166 5 Congratulations on the naming of f M/V "NOR SEA" at Raffles Marina on Friday, 29 April 2005, 1500hrs Charterer: NOR Offshore Pte Ltd, A Solstad, DOF and Nortrans Company fefl r f wmHHpsli musiness partners and associates for their support: f tsm Iffs B3 I M 9 W L>*e> J
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  • COMPANY NEWS
    • 526 6  -  Decision won't affect proposed link with Malaysian bourse next year By R SIVANITHY THE Singapore Exchange (SGX) yesterday dismissed the call from the Securities Investors Association of Singapore for circuit breakers to be introduced for individual stocks the system whereby a market
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    • 707 6  -  HOCK LOCK SIEW By R SIVANITHY EVERY once in a while, something crops up in the stock market that defies logical explanation. No, we are not referring to the huge volatility in Unifiber's shares over the past week, or to the
      707 words
    • 676 6  -  Reports by JOYCE KOH THE Nat Steel name is here to stay. Shareholders of this grandfather of local businesses have decided its colourful legacy will live on in its name despite Nat Steel's core steel business being sold to India's Tata Steel.
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    • 224 6 DESPITE his experience with risks in the world of business, Oei Hong Leong is no fan of casinos and only goes to these places for fun. "The only industries that will grow from casinos are loan sharks, prostitutes and white-collar crime," he said. "But
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    • 707 6 COMPANY lens PLACE DATE TIME GK Goh A Level 6, Novotel Clarke Quay Singapore, 177A River Valley Rd 30-Apr 10.00am GK Goh E Level 6, Novotel Clarke Quay Singapore, 177A River Valley Rd 30-Apr 10.15am Dragon Land A River View Hotel. 382 Havelock Road, Level 4, Camellia Room
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    • 475 7  -  EARNINGS RESULTS By RAJU CHELLAM THE continuing slide in global semiconductor sales has claimed another victim close to home. The world's No 3 chip test, assembly and packaging company, Stats-ChipPac, yesterday reported a sequential drop in revenues and a bigger than expected loss for
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    • 365 7  -  By VEN SREENIVASAN STRONG order books and a robust offshore and marine sector enabled Keppel Corp to boost its first quarter profit by 18.5 per cent to $173.4 million. Profit before extraordinaries and minority interest was $143.6 million, up 10 per
      365 words
    • 456 7  -  Property giant denies offer for plum Orchard Road assets, but rumours persist By KALPANA RASHIWALA PROPERTY giant Capita Land is the latest name for rumour-mongers to play with concerning the contest for the stakes in Ngee Ann City and Wisma Atria that
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    • COMPANY BRIEFS
      • 95 7 OSIM'S mandatory cash offer for Global Active (GA) shares at 23 cents apiece closed yesterday with Osim's total interest in Global Active reaching 66.71 per cent. Osim said that since the offer was announced on March 2, it had received acceptances representing about 25.86 per
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      • 57 7 UNITED Overseas Bank last night said in reaction to a wire report—that it was not downsizing its treasury operations. The bank said its treasury division recently streamlined its market making activities as part of its regular review. Seven treasury dealers left during that period. The
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      • 57 7 Bloomberg PT BANK, an Indonesian lender controlled by OCBC, posted a 72 per cent rise in first quarter profit as it expanded lending. Net income rose to 95.99 billion rupiah (5516.6 million) from 55.7 billion in the first quarter of last year, PT Bank,
        Bloomberg  -  57 words
  • Page 6 Advertisements
    • 1031 6 Financial Report 2004 Consolidated Balance Sheet at 31 December 2004 Consolidated Income Statement 2004 CHF million 2004 2003 CHFrnHkyi 2004 2003 2002 Assets Operating Income Cash and balances with central banks 6,036 3,584 Interest income 35.3 M 40,159 39,963 Due from banks 35.264 31,740 Interest expense 07.531) (27,860) (29.417) Cash
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  • Page 7 Advertisements
    • 42 7 The Add reSS f The Aesthetic HHHH 9H mmmmmmmmmmmmmmmmmmmmmmmKmrnrn The Luxury T HIHHHHiiHHIHBBBBSHHfIbsMiMTHE PATERSON New showflat open for from Ideal Homes Pte Ltd Call 6333 6508 or A subsidiary of Singapore Land Limited) visit our website at www.thepaterson.com.sg -jj SINGAPORE LAND LIMITED
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  • SINGAPORE MARKETS
    • 513 8  -  STOCKS Rotational themes emerge in mixed bourse with STI in narrow range, although casino plays remain in vogue R SIVANITHY Senior Correspondent THERE was little in yesterday's market activity to distinguish it from the past dozen or so sessions prices drifted in thin volume, the
      Source: Bloomberg  -  513 words
    • TRADES TO WATCH
      • 428 8 BANKER Wee Cho Yaw's property company United Overseas (UOL) paid $218,940, or about 84.2 cents apiece, to acquire 260,000 Hotel Plaza shares on the open market yesterday. As a result, UOL's stake in its subsidiary, which owns 13 hotels in the region,
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      • 81 8  -  Compiled by NANDE KHIN MOBILEONE (Ml) chief executive Neil Montefiore's deemed stake was pared to 0.07 per cent from 0.1 per cent yesterday after 300,000 shares were sold on the open market through nominee accounts at about $2.05 each. He also has
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    • Article, Illustration
      422 8 OTHER SINGAPORE INDICES Apr 28 VALUE CLOSE BT OB/OS -439.00 +62.00 BT CADI -*****.00 -15.00 BT 10-day MA -***** 00 -44.00 All-SG Equities 552.29 -1.11 SG Equities Elect 127.87 -0.28 SG Equities Fin 1606.81 -7.25 SG Equities Prop 570.24 -1.97 SIMSC1 253.58 -0.47 SiMSCI Futures 254.10 +0.40 MOST ACTIVE STOCKS
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    • Article, Illustration
      939 8  -  Compiled by JOYCE KOH Stats ChipPac April 28 close: $1.01 KIM ENG RESEARCH. April 28 Q1 results were below expectation. Sales declined 12 per cent sequentially to US$234 million, in line with expectations. Net loss of US$27.l million, however, was higher than our forecast of US$2O million and -consensus
      Source: Bloomberg  -  939 words
    • 523 8  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar had a quieter session in Asia yesterday, supported by news that Nymex crude prices had fallen almost US$3 per barrel after US crude inventory numbers improved for a 15th straight week, but held down
      Source: Reuters  -  523 words

  • BT-LEK SHAREHOLDER SCORECARD
    • 785 9  -  LEK values a company by using a single composite measure that provides a clearer picture of a company's returns, says DANIEL BUENAS DANIEL BUENAS IN today's markets, it's not always easy to figure out how to value a company. Some advocate the use of technical analysis
      785 words
    • 174 9 LEK's goal is to provide clients with the best available strategic advice and commercial support. We provide the facts, analysis and insights needed to move confidently on major strategic decisions or to undertake major internal restructurings or reorganisations. Combining business-specific knowledge with extensive
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    • 16 10 (Ranked by 5-year TSR) (Ranked by 5-year TSR) Source: LEK Consulting
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    • 1153 12  -  SGX's billion dollar club performs better than smaller firms, with 7.6% shareholder return over 10 years, says MICHEL BREKELMANS MICHEL BREKELMANS THERE are now 58 companies on the Singapore Exchange (SGX) that belong to the billion-dollar club, a select group that boasts a market capitalisation
      FILE PHOTO  -  1,153 words
    • 930 12  -  By SHARAD APTE, MICHEL BREKELMANS IT is the ability to generate sustainable, long-term returns to shareholders that is the hallmark of outstanding management teams. Who are Singapore's best performing firms in terms of generating shareholder returns and what is it that has made them
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    • 848 12  -  By SHARAD ARTE, ALLAN SCHULTE AFTER the remarkable success of the Singapore stock market over the past two years, many investors and executives wonder what is next for Singapore equities. The Straits Times Index (STI) has grown 62 per cent over the
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  • Page 9 Advertisements
    • 90 9 Pills" 8 sp ■'i p:| I On 7sf Mrty 2005, The Ritz-Carlton Jakarta will open its doors for fee -HE 'p| the very first time, changing the face of Jakarta's hospitality industry t°rever- E itt As the champagne flows, the symphony echoes and the celebration gathers momentum, we the Ladies
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  • Page 11 Advertisements
    • 144 11 Capita Land is one of the largest listed property companies in Asia. Headquartered in Singapore, the multinational company's A n/to OnH core businesses in property, hospitality, property services and real estate financial services are focused in gateway cities in UL LCI LCI II U Asia, Australia and Europe. The company's
      144 words


  • SINGAPORE NEWS
    • 464 13  -  Group aims for 30-40% revenue growth in Asia-Pac, Japan region By RAJU CHELLAM PERSONAL computer leader Dell has moved its design and research work for displays and imaging from Austin, Texas to Singapore to take advantage of the talent and infrastructure
      FILE PHOTO  -  464 words
    • 297 13  -  By CAROLYN QUEK SAFETY records will now be an important criterion in evaluating tender proposals for public sector construction projects, according to Manpower Minister Ng Eng Hen. "I think the clear signal is that it is not only about price in the tender process.
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    • 258 13 COUTTS, the venerable British private bank, expects to hire some 55 bankers or more for its two offices in Singapore and Hong Kong to cope with expanding business. Coutts is looking for banking professionals across a range of skills from relationship bankers
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    • 353 13  -  By ALEXANDRA HO CITY Developments (CityDev) prefers the Marina Bayfront integrated resort (IR) site but does not rule out bidding for the Sentosa site, its spokesman told BT. CityDev executive chairman Kwek Leng Beng said at the company's annual
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    • 355 13  -  Moves will help cut vehicle repair costs and premiums By SAMUEL EE NTUC Income has introduced two innovations in motor insurance which the market leader said will result in a 5-10 per cent reduction in premiums within two years. The first is the Motor Repair Cost
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    • 441 13  -  By SIOW LI SEN AN INTERNATIONAL Monetary Fund (IMF) report has said that Singapore should consider increasing the social safety net given the increasing structural unemployment among the less skilled. In a country report released yesterday it said that Singapore's social security system
      441 words
    • 201 13 SINGAPORE Land Authority (SLA) chief executive Tan Kee Yong is leaving to take up a new position as deputy secretary (services) at the Ministry of Education. Lam Joon Khoi, chief executive officer of the National Environment Agency (NEA), will take
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  • Page 13 Advertisements
    • 151 13 j j —i I >' t i i -i f, <» <j Wfes Eaglw Horses s iff Tanc l n r M iff k'oppo' i,"sr oORE4£ /-"•ST Qjo I frCourrtry J J\ r O at J< 27/ Kiational is>SorvlceWt te *4no** >1 Answer: The inaugural SAC 2005 &df Friendly. Twotve
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  • ECONOMY WATCH
    • 472 14  -  WORLD ECONOMIC FORUM He highlights issues such as history and leadership rivalries Reports by NANDE KHIN ASIA'S growth and potential will be the key issue of the Asia Roundtable 2005, but discussion of the social risks stemming from Asia's rapid growth
      JOYCE FANG/ST  -  472 words
    • 294 14 SINGAPORE should become a New York or London of the East in order to benefit from the new economic environment in Asia, said Prime Minister Lee Hsien Loong at the Istana yesterday. He said that the economic landscape in Asia is changing, and
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    • 364 14  -  By DANIEL BUENAS SINGAPORE resort operator Banyan Tree Hotels and Resorts has clinched a deal with a Middle Eastern developer to operate its biggest attraction yet a US$l3B million resort and spa in Bahrain. The spa is part of a US$75O million
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    • 42 14 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
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  • Page 14 Advertisements
    • 41 14 AllianzGl Global Internet Fund Winner of the Sector TMT Global (3Year) Category* and Best Equity Sector AIII3TIZ (ifi) Information Technology Fund over 1 Year** Global Investors Source: 'Standard Poor's 2005 Singapore Fund Awards The Edge-Lipper Singapore Funds Awards 2004 llMl lliny
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  • MALAYSIA/INDONESIA
    • 685 15  -  Keeping currency stable and inflation in check Yudhoyono's biggest test now By SHOEB KAGDA in Jakarta THE Indonesian government has initiated a series of actions to halt the recent decline of the rupiah. As part of the campaign, President Susilo Bambang Yudhoyono made
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    • 304 15 Reuters [KUALA LUMPUR] Malaysia moved yesterday to resolve nationwide shortages of diesel, promising to relax limits on supplies of the fuel to petrol stations. Hundreds of stations ran dry in recent days after a government attempt to crack down on abuse of diesel subsidies
      Reuters  -  304 words
    • 279 15 AFP [PUTRAJAYA] Malaysia yesterday announced tax breaks and other incentives to encourage investment in biotechnology, seen as one of the key drivers of the country's development. Prime Minister Abdullah Ahmad Badawi announced the establishment of the Malaysian Biotechnology Corporation under a council headed
      AFP; REUTERS  -  279 words
    • 241 15 AFP Reuters [JAKARTA] Indonesia's president yesterday sought to allay fears the country was headed for another banking crisis as a probe continued into an alleged scandal involving the country's largest lender Bank Mandiri. "There is no problem with the bank so do not
      AFP; Reuters  -  241 words
  • Page 15 Advertisements
    • 103 15 is heard of Coutts. Discretion has always been our greatest strength. JUr of'ititMXWal il 11 discerning dIS^M To find out htsw^liiliHirv' Bl jf i o Tina oui now;*^™; \M can help you, BIT 6326 i 348 website at fl 1 A SUCCESSFUL YEARS RSjIBW/gk XV/ IN HONG KONG SINGAPORE COUTTS
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  • GREATER CHINA/INDIA
    • 664 16 Interest sparked by Delhi's easing of foreign investment rules in February Reuters IBOMBAY] India's move to ease rules on foreign investment in its thriving property sector has set off a flurry of activity, with mainly US investors jostling to be first through the door. The
      Reuters  -  664 words
    • 327 16 Bloomberg [BANGKOK] Shanghai real estate prices could overtake those in cities including New York and Hong Kong, fuelled by China's economic growth, according to investor Marc Faber, managing director of Marc Faber Ltd. "I think in the long run Shanghai real
      Bloomberg  -  327 words
    • 366 16 AP Reuters [BEIJING] China has created a powerful new agency to oversee the country's energy security amid booming demand for power and surging oil imports, a newspaper reported yesterday. The State Energy Office will supervise China's state-owned oil companies and a newly created strategic petroleum
      AP; Reuters  -  366 words
    • NOTE BOOK
      • 76 16 Reuters TNEW DELHI] Bharti Tele-Ventures Ltd said quarterly profit jumped 44 per cent as it made a mark in the world's fastest-growing mobile phone market. India's top mobile services firm, whose market value of US$B.57 billion makes it India's fifth-largest listed firm,
        Reuters  -  76 words
      • 86 16 Reuters (BEIJING] China may need US$l9O billion to fully recapitalise Industrial and Commercial Bank of China and Agricultural Bank of China, and even then the lenders would have a toug"h time drawing foreign investors. Standard Poor's said yesterday. That figure was a high-end
        Reuters  -  86 words
      • 57 16 Reuters [KUALA LUMPUR] Banks operating in Malaysia's offshore Labuan financial centre saw pre-tax profits rise by almost two-thirds last year helped by lower bad loan charges, the authorities said yesterday. The 57 banks recorded pre-tax profit of U*****.9 million in 2004,
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      • 83 16 AFP (BANGALORE] Software exports from India's hi-tech hub rose more than 52 per cent to US$6 billion in the year to March as companies from abroad outsourced business applications to the region, officials said yesterday. Total software exports jumped 52.5
        AFP  -  83 words
      • 58 16 Reuters [KUALA LUMPUR] Malaysia's top car retailer, Edaran Otomobil Nasional Bhd (EON), named a former Honda executive as its new managing director yesterday. EON, which sells brands such as Proton, Audi and Mitsubishi, said Syed Hisham Syed Wazir, 50, will replace
        Reuters  -  58 words
  • Page 16 Advertisements
    • 1760 16 "Notices To: ALL HOLDERS OF WARRANTS TO SUBSCRIBE FOR NEW SHARES IN PACIFIC ANDES (HOLDINGS) LIMITED (the "Company") THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt as to the action you should take, you should consult your stockbroker, bank manager, solicitor, accountant or
      1,760 words
    • 804 16 IN THE MATTER OF THE COMPANIES ACT (CAP. 50,1994 Ed) AND IN THE MATTER OF GILLETTE SINGAPORE PTE. LTD. (In Members' Voluntary Liquidation) (Company Reg. No. *****0682 C) NOTICE OF RESOLUTION At an Extraordinary General Meeting of the members of the abovenamed Company duly convened and held at 47 Scotts
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  • ASIA-PACIFIC/WORLD
    • 611 17 Mega-resort earns plaudits from impressed patrons and visitors AP Reuters [lAS VEGAS] Gambling impresario Steve Wynn has finally delivered. His US$2.7 billion Wynn Las Vegas opened for business yesterday to hundreds of eager people clamouring to get the first glimpse of this city's newest attraction and
      AP; Reuters; REUTERS  -  611 words
    • 362 17  -  By ANTHONY ROWLEY in Tokyo THE Bank of Japan (BOJ) yesterday forecast that consumer prices in Japan would continue falling until at least March 2006. It also forecast that the economy would grow by only 1.3 per cent during that time, instead of
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    • WORLD WATCH
      • 77 17 Bloomberg [i4eW YORK] Citigroup and HSBC Holdings have receiyed requests from New York Attofney-General ■Eliot Spitzer's office for information about their mortgage-lending practices. Mr Spitzer's civil-rights bureau is examining possible discriminatory practices in the rates and fees charged for mortgage loans, the Wall Street
        Bloomberg  -  77 words
      • 102 17 Bloomberg [NEW YORK] ExxonMobil Corp said yesterday that first-quarter profit jumped 44 per cent to US$7.B6 billion from U555.44 billion as energy prices soared. The world's largest publicly-traded oil company's net income climbed to US$l.22 a share from 83 cents a share, a
        Bloomberg  -  102 words
      • 98 17 Reuters [LONDON] Royal Dutch/Shell yesterday reported a 28 per cent rise in first-quarter profit, comfortably beat analysts' forecasts. Net income increased to U555.55 billion from U554.33 billion a year earlier, excluding gains from holding oil inventories. Shell CFO Peter Voser told
        Reuters  -  98 words
      • 82 17 AFP [TOKYO] Japanese consumer electronics giant Matsushita said yesterday that its net profit rose 38.8 per cent to 58.5 billion yen (Ss9o7 million) in the year to March on rising sales of plasma display panel (PDP) televisions and DVD players. Matsushita
        AFP  -  82 words
      • 114 17 Bloomberg [FRANKFURT] DaimlerChrysler said yesterday that first-quarter profit declined 30 per cent as the company began a revamp of the Smart small-car unit and spent money fixing defective Mercedes-Benz vehicles. Truck division sales and earnings surged. Net income fell to 288 raitton
        Bloomberg  -  114 words
      • 101 17 Bloomberg [LONDON] Standard Chartered Pic has agreed to buy 6 per cent of Travelex Pic to help boost sales of currencies. The UK bank joins a group led by buyout firm Apax Partners Worldwide to acquire a majority of Travelex, the world's
        Bloomberg  -  101 words
      • 86 17 Reuters [FRANKFURT] Pretax profit at Deutsche Bank came out at 1.8 billion euros (553.85 billion) in Ql, beating analyst estimates at 1.29 billion euros on average. Net income at Germany's largest bank rose 17 per cent to 1.1 billion euros, compared
        Reuters  -  86 words
    • 399 17 US economic growth slows to 3.1 in Q1 LATEST US INDICATORS AP Reuters Bloomberg [WASHINGTON] The US economy lost momentum in the opening quarter of the current year, growing at an annual rate of 3.1 per cent as the trade deficit widened and rising gasoline prices limited consumer and corporate
      AP; Reuters; Bloomberg  -  399 words
  • Page 17 Advertisements
    • 46 17 wM w M The first audible warrants WSSBj^SSBBS^m^ commentary in Singapore is now I available! Please SG Warrants Hotline at *****828. Prices of warrants may rise or and may expire worthless, resulting in of investors' investment. Before investment investors own to fully products' characteristics and risks.
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    • 204 17 ■(■■■■l Call tod-free 1800 289 8822 J IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF PACIFIC DELTA CONSTRUCTION MANAGEMENT PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) CO. REGN. N0.*****1925K NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act.
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    • 326 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF DEUCHEM SINGAPORE PTE LTD (In Member's Voluntary Liquidation] I Company Registration No: *****6483R# NOTICE OF RESOLUTIONS At an Extraordinary General Meeting <4 DEUCHEM SINGAPORE PTE LTD deemed to have been duly convened and held on 26
      326 words

  • AVIATION
    • 772 18 Net income falls to US$535m from US$623m on fewer jet deliveries, costs Bloomberg [NEW YORK] Boeing Co, the world's largest aircraft maker, said first-quarter earnings fell 14 per cent as the company delivered fewer commercial jets and had costs related to the sale of assets
      Bloomberg  -  772 words
    • 298 18  -  By LIZA LIN [SINGAPORE] Even before the new Airbus A3BO has hit town, there are already plans to set up an avionics maintenance and repair facility for it here. Anticipating demand, aerospace equipment company Thales is expanding to house equipment capable of
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    • 274 18 Bloomberg [TOKYO] All Nippon Airways Co, Asia's secondlargest carrier by sales, posted its biggest quarterly loss in seven quarters, as record oil prices inflated its fuel bill by 5 per cent. The airline had a loss of 8.1 billion yen (Ssl 26.1
      Bloomberg  -  274 words
  • Page 18 Advertisements
    • 461 18 SOUTH EAST ASIA AND SOUTH ASIA AUSTRALIA TRADE FACILITATION AGREEMENT NOTICE TO TRADE BUNKER ADJUSTMENT FACTOR (BAF) Arising from the regular review of bunker prices, the following Lines in the South East Asia and South Asia Australia Trade Facilitation Agreement wish to inform the trade that with effect from 1
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  • SHIPPING/TRANSPORT
    • 700 19  -  EU states wary of governing body's ambitions; several voice objections By DAVID HUGHES in London THE European Commission's (EC's) move to represent the European Union at the International Maritime Organisation (IMO) has stirred opposition from several EU member states
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    • 176 19 Reuters [PARIS] Heavily indebted cross-chan-nel tunnel operator Eurotunnel made a net loss of £570 million (Ssl.B billion) last year, after a £1.3-billion loss in 2003, the company said on Tuesday. Operating profit was £171 million versus £170 million in 2003 on a
      Reuters  -  176 words
    • 121 19 [SINGAPORE] A Japan-ini-tiated regional agreement on combating piracy in Asian waters was kickstarted yesterday with the first four countries ratifying the agreement. Singapore, Japan, Laos and Cambodia signed the Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (Recaap), which
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  • Page 19 Advertisements
    • 423 19 NOTICE TO TRADE FEEDER OPERATORS SOC SHIPMENTS REVISION IN FUEL ADDITIONAL (FA) EFFECTIVE 15 MAY 2005 Arising from the regular review of bunker prices, feeder operators wish to inform the trade that the current Fuel Additional (FA) will be revised to the following levels for all inbound and outbound shipments
      423 words

  • EDITORIAL & OPINION
    • 514 20 EDITORIAL INDONESIAN President Susilo Bambang Yudhoyono and his economic team may be facing what could be their toughest economic test yet. with the rupiah under pressure and inflation threatening to get out of control. Jakarta needs to come up with some answers quickly on how
      514 words
    • 2381 20 The following is the address by Minister Mentor Lee Kuan Yew at the Asian Strategy and Leadership Institute's 'World Ethics and Integrity Forum 2005' in Kuala Lumpur yesterday TECHNOLOGY and globalisation have created a more level playing field. Because goods and services can be manufactured
      REUTERS  -  2,381 words
    • 1693 21  -  Singapore companies need to define innovation platforms to realise their growth aspirations and competitive advantage By HITENDRA PATEL, STEVE WYATT INNOVATION platforms are powerful launching pads for new ideas, products, services and businesses. For instance, the global coffeehouse-chain Starbucks has created a platform around the theme
      FILE PHOTO  -  1,693 words
  • Page 20 Advertisements
    • 912 20 I Notices IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF KECEPE INVESTMENTS PRIVATE LIMITED (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50, that the Final Meeting of the members of
      912 words
    • 186 20 In The Matter Of The Companies Act, Cap. 50 And In The Matter Of THE SIGNATURE STORE PTE LTD Reg. No. *****9127 C NOTICE OF CREDITORS' MEETING PURSUANT TO SECTION 296 OF THE COMPANIES ACT, CAP. 50 NOTICE IS HEREBY GIVEN that pursuant to Section 296 of the Companies Act,
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  • Page 21 Advertisements
    • 181 21 E5O Leaders Talh i y sy Question: Which Singapore company has businesses in Azerbaijan, Brazil, Bulgaria, China, Kazakhstan, the Netherlands, Norway, the Philippines, the the United Arab Emirates and the USA? Answer. Keppel Offshore Marine the world's No. 1 designer and builder fIF of offshore rigs. It is also a
      181 words
    • 857 21 A MftlfßftHlßft* JUNMA TYRE CORD COMPANY LIMITED (a joint slock limited company incorporated in the People s Republic of China on 12 June 1998 as a limited liability company) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Junma Tyre Cord Company Limited (the
      857 words

  • 9899 22 SGX MAINBOARP Transaction date: Apr 28 52-Wk Tel last Vol Day Last Quote GrDrv Dtv GrYM Net MCap S2 Wk Tol Last Vol Day Last Quote GrMv Mv GfVId Met MCap High Low Code Company Sale ('000) High Low Buyer SoMer S Cvr P/t Vnll High Low Code
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  • 3415 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES kMiarr la M muss dy \yr riy yr dy *y» AprJ7 >wd«« Ot*ng» Chang* Oiimi Owm Chang* Chang* World Infle* Preliminary 8/* 4 OS •11 06 33 4* 4.1 «tAH Preliminary 7694 1.0 04 1.0 *24 -03 3.4 [urope Preliminary ***** 1.4 04
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  • Page 24 Advertisements
    • 2031 24 I TO USA/CANADA I I EXPORT I I OTHER DESTINATIONS I |VKSU I VOT PKG ETA SIN LONG KA(H| DALLAS [HOUSTON [MEMPHIS [CHKAGO NEW YORK TQ AURTPAiIA (AipflTRAI IA AIWA FXPRFffS) OOCL NINCBO 09E17 26/04 27/04 13/05 19/05 20/05 18/05 18/05 21/05 fK FRE MB* STD Mfl OOCL HAMBURG 11
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    • 859 24 [MTIRASIA RORO SWICE VBsa/VQT ymyt) hbshipb wc km m at m STUITS EXrtESS 31 30 4.25 23/04 25/04 27/04 STUITSVBmitt Of/OS IS 3.2 22/04 01/05 03/05 05/05 |smns ramie io/os 15 3.2 07/05 10/05 IAUWRAUANROROWRVICI I VBSa/VOT lIMWDI HBGHTPDI IP I SM IJKT SIP MR Ml B I 1 I
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  • Page 25 Advertisements
    • 1190 25 MOL Combines a range of shipping mod«s lo ensure timely, reliabb mtvkm covering major porta m NormAnwrica, Europe, Japan, Asia, Africa Oceania. Also acctpt Infra* Asia OvfMt tK BUS AN KWANGYANG SHANGHAI YANTIAN XIAMEN QMGDAO BttAWAN JAKARTA SURABAYA KAOHSIUNO BANGKOK LAIM CHABANG HOCHUMNH PASiR GuPANG HWANG POUT HUNG For Schedules,
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    • 1318 25 VESSEL VOY SIN JKT HKGIKHH IK KYH WIS VESSEL VOY SIN JKT SUB HKG USN PUS HY VLADIVOSTOK 158S 5/5 7/5 It/5 14/5 It/5 18/5 IS/5 KMTC SHANGHAI SQ6S 1/5 4/5 5/5 10/5 14/5 15/5 HY PROGRESS 09SS 12/5 14/5 19/5 21/5 23/5 25/5 75/5 KMTC PORT KELAHG 506S 8/5
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    • 766 25 m WEEKLY EXPRESS SAIUNG SCHEDULE I" ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTsI VKSfI VOT I SHI 1 PJOAHCI COLOMBOIN. sum I couxwo I I II II I I I ALSO ACCEPTMG FQ TO COONN, TUTKOtM (VIA COtOMO) AND MNDU t GOAI (VIA N SWVA) GOMCCTMG MOTHB VSLS
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  • Page 26 Advertisements
    • 621 26 lAXAf WALLENIUS WILHELMSEN website: http://www.2wglobal.tom VESSEL "VOY RAMP HEIGHT SIN t»C HuoT HOW ~jj*~ SAY ~»AL ORF NYC HEW M0» TAMPERE ALS12 400To« 6.3M 02/05 09/06 13/06 16/06 14/06 TAMPA AF511 420To« 6.4M 06/05 30/05 09/06 13/06 17/06 15/06 19/06 TARAGO AF512 3201ms 6.4M 13/05 9/06 IS/06 22/06 26/06 24/06
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    • 1384 26 VESSEL VOY SIN PGU JfISHL VOX SD XI PK uuni rns; TO/04 uis am MZM PACIANOA 1458N 29/#? ±Z£®?— _MCMU AIM ftl/fiS MAS CSf 2301 0113P 29/04 30/04 PAcmmii S2SZ Uifli MAS PACtANOA MS9M 30/04 01/05 719S 05/05 oa. OS CSf 2301 0114P 01/05 02/05 PAC BANDA 1460N 01/05 02/05
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  • Page 27 Advertisements
    • 818 27 Guaranteed Sailing! I Service from Singapore to: I Los Angeles Keelunq I Weekly Consol. Twice weekly I 14 days transit. Mon A Thurs cut-off I ®MUR SHIPPING INDIAN OCEAN ISLANDS/SOUTH AFRICA VESSEL TWU KK MWI TGM SIN PC NTS REUNION DIN El K CT VOYAGER V 032 Sdkd Soled SdM
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    • 864 27 FREIGHT LINKS EXPRESS PTE LTD 51 Penjuru Road, 3 Level, Freight Links Express Logisticentre, Singapore *****3. Tel: *****51 1 Fax: *****577 E-mail: flesin@singnet.com.sg Website:http://www.freightlinks.net LCL SERVICE TO CHINA ASIA "T™* CEBU DALIAN HONG KONG JAKARTA QINGDAO Hb ji Mfi SHANGHAI SURABAYA XINGANG XIAME N BEST LCL RATES TO AARHAUS ASHDOD
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    • 311 27 liner braokbulk service S.I. Asio/USA vice verso SPECIALISE IN HEAVY UFTS A PROJECT CARGO fflniffl 'DmhUi MV MOUSTRUL CBfTTJRT 21/04 Tltltiwn Lm| Iwfc/StodtM, Va«kilkaip*li swijftfntf QiftHiß ■VMDUSTIUICMARGB 2S/0S Wmm, Tifcihui Laa) iMfc/SMfctw, Vwinh. Hnfiw. Otirn parti Mmam. Others ports in USA A4axko, Combeon South Amenco on inducement. MNOtfou mSSSS Hiop
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  • PERSONAL STYLE
    • 1084 29  -  Sebastian Ng, owner-chef of Ember restaurant, is a second-time winner at the World Gourmet Summit. CHEAH UI-HOON finds out what makes him tick CHEAH UI-HOON IN the world of baking, something that rises, and stays up, is good. Although the mixture should then
      ARTHUR LEE  -  1,084 words
  • Page 29 Advertisements
    • 84 29 IMOKIA KBBfflU Connecting People 9 irII fflfcm The Nokia 9300 Smartphone is a sleek, stylish and stunningly compact object of desire. Open it up, however, and it transforms into a powerful business tool. Proving that style and business do indeed go hand in hand. INIOKIA Email with Attachments Office Applications
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  • ARTS
    • 399 30  -  By PEPPER LEE THE enfant terrible of Pop Art, Andy Warhol is no stranger even to the nonart lover, for whom the famous Campbell soup can is as much an icon of pop culture as it is that of 20th century art. For the
      399 words
    • 451 30  -  PARVATHI NAYAR checks out lifestyle store Mumbai Se's first exhibition of Indian artworks PARVATHI NAYAR ART and lifestyle meet tonight, when Sajni Gill, CEO of Royal Sporting House (RSH) expands the scope of her highend fusion Indian lifestyle store, Mumbai Se, with mumbai se art (art
      451 words
    • 447 30  -  By PARVATHI NAYAR IT'S hot, hot, hot. But it's only as recently as the past six months, says Dr Khubchandani, that the Indian art market has gone stratospheric. This month's issue of Art+Auction magazine carried an upbeat report, saying that globally, gallery and auction sales of
      ARTHUR LEE  -  447 words
  • Page 30 Advertisements
    • 459 30 WTE7I i I*. 1 J_ j Presented Bftj m Diners Club Credit Card *****980 Where to wine dine 3nd enteruun... veprw,^&Tre is Order any Mother's Day set menu from 29th April to Bth May and receive a Free Peking Duck (U.P. $38+++) voucher for your next visit to our restaurant
      459 words
    • 261 30 I he" ins, This mango harvest, Vansh presents you with a II succulent manifestation of mango dishesl lull!!! 15 litiiki'S Created with the most fragrant alphonso <i ccmeback! mangoes from the Kokan region in India, indulge in delightful treats like tender grilled chicken drums stuffed with mangoes and tawa-grilled fresh
      261 words
    • 78 30 Ifaf3L Hr^Bl C O V E Groove to chill-out music as you indulge in the awesome nightscape of the island. Sun to Thu 10.30pm to I.ooam Fri, Sat Eve of P.H. 10.30pm to 2.00 am Enquiries 6831 6258/88 MERmJS MANDARIN i»**A A division of Overseas Union Enterprise Limited (Company Registration
      78 words

  • ARTS/CINEMA
    • 422 31  -  FILM PEPPER LEE reports on top Asian offerings at the 15th Silver Screen Awards Ball PEPPER LEE IT was a star-studded evening replete with glitterati, as local celebrities and Hong Kong big-names Kenny Bee, Chapman To and Alan Mak gathered at the 15th Silver Screen
      422 words
    • 424 31  -  THEATRE By SANGEETHA MADHAVAN THOUGH the premise of the play Skylight presented by Escape Theatre and currently playing at the Arts House Playden might sound like it is about the rekindling of love between old lovers, do keep in mind that this is not a
      424 words
    • 544 31  -  OBITUARY M'sian director Krishen Jit passed away yesterday. PARVATHI NAYAR looks at his influence on local theatre PARVATHI NAYAR HE was a theatre legend who helped shape contemporary theatre in Singapore and Malaysia a sentiment that would sound overblown when applied to most people is just
      544 words
  • Page 31 Advertisements
    • 203 31 Six distinctive cultures. '"fttf»>Wi tlilff¥? ;J i ,1 2|j|® B *w a% v Restaurant 1827 Thai San Marco Townhouse Golden Peony Chinese Restaurant L'Aigle d'or French Restaurant One-Ninety One great tradition. x i~ i. k^^B $>& m-iII^I t ->1 f h f Ernest Julio Gallo's Premium Wines can be found
      203 words
  • Page 31 Miscellaneous
    • 246 31 CRYPTIC CROSSWORD make one panic (4) restricted safety de- Hmj Famous leader and exceptionally sane (6) 7gTj management hJ 25 Not moving stuff in the office cupboard when told (10) 26 Inquisitive and loud? Not I! (4) 8 Colonnades with elegance sur- thur's men had missed (4) 27 Last time
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  • BOOKS
    • 1346 32  -  PARVATHI NAYAR and PEPPER LEE check out the latest offerings PARVATHI NAYAR, PEPPER LEE COME May 19, we'll see if the force finally returns to the screen, even if only via the dark side. To get up to speed on Star Wars trivia characters like General
      1,346 words
    • Article, Illustration
      595 32  -  Art Since 1900: Modernism, Antimodernism, Postmodernism By Hal Foster, Rosalind Krauss, Yve-Alain Bois and Benjamin Buchbh By Parvathi Nayar JUST the title ticks off all the right boxes: the themes are relevant, the timeframe under consideration very timely as we settle into a new millennium, and as for the
      595 words
    • 248 32  -  By Amit Roy Choudhury By Thomas Friedman WHEN journalists write books about contemporary world events they tend to read like an extended news article full of facts but very boring. However, some journalists can
      248 words
    • 211 32  -  By Cheah Ui-Hoon By Jeffrey Sachs WITH a gung-ho title like this, you'd probably be picking up Jeffrey Sachs' The End Of Poverty: How We Can Make It Happen In Our Lifetime ($22) out of sheer scepticism,
      211 words

  • COVER STORY/PURSUITS
    • 1860 33 IT'S not an official record or anything, but Singapore filmmaker Erie Khoo has a staggering (and highly enviable) success rate when it comes to getting his movies screened at the Cannes Film Festival merely the most prestigious cinematic showcase in the world. In 12 days'
      1,860 words
    • 639 33  -  SCIENCE By CHEAH UI-HOON GENES and geography are coming together in a worldwide study where ordinary people can trace their ancestral lineage and be part of the map of human migration that population geneticist Spencer Wells is trying to assemble. Armed with US$lOO DNA test kits,
      639 words
  • Page 33 Advertisements
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    • 125 33 JM%\ uk iaS t 2 pays! I B flfc3k KL» I fr- I Jof Digital Music System OTftVML PRICE j' Bose Lifestyle* 48 Bose Lifestyle* 38 DVD Homo Entertainment System DVD Home Entertainment System Retail $599 I j FESfIWU. FE*fIWIL V T PRICE PRICE j Retail $7,399 Retail $5,599 -iJ
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  • executive lifestyle
    • 573 34  -  off the cuff jaime ee IT'S finally happened. Research has shown that too much emailing and textmessaging makes you stupid. Too much thumb-typing on your PDA leads to ergonomic disorders, which, if left untreated, could freeze your hands into a permanent "thumbs up" position. There
      573 words
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