The Business Times, 4 May 2005

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Microfilm: NL26192
Total Pages: 32
1 32 The Business Times
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  • Title Section
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    14 1 THE BUSINESS TIMES Wednesday. May 4,2005 http://business-times.asial .com.sg MICA (P) 089/03/2005 iINGAPORE 85 ceTIW
    14 words
  • Article, Illustration
    Lock icon Hotel Prop, Metro drop joint bid for resorts
    627 1  -  Observers say Hotel Prop could still tie up with international partners later By ALEXANDRA HO [SINGAPORE! Ong Beng Seng's Hotel Properties Ltd (HPL) and partner Metro Holdings have pulled out of the high-stakes race to build Singapore's first Integrated Resorts with casinos.
    627 words
  • Article, Illustration
    Lock icon Service industries echo producers' upbeat mood
    502 1  -  Survey finds S'pore manufacturers are not alone in their optimism By ANNA TEO ISINGAPORR] Business sentiment has improved. And it's not only manufacturers that are upbeat about the second and third quarters. The hotel and catering. real estate and financial services sectors are especially
    Source: Dept of Statistics  -  502 words
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      47 1 COMMENTARY When judicial management is best PG4 \l\l II I Th« Lang* 1 Moonphase. WWII I— I Outsize SINGAPORE LUCKY PLAZA TEL G VsA MALAYSIA SURIA KLCC LOT G39A TEL (603) 2166 2181 SURIA KLCC LOT G238 TEL (603) 2166 2173 KL PLAZA TEL (603) 2141 0540
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      6 1 MOTORING S'pore agent picked for supercar
      6 words
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      36 1 EQUITIES Malaysian dividend yields soar PGI3 'I regret that we ever used KffiJ stock options.' Microsoft chairman Bill Gates pg 17 FED INTEREST RATES: Get the US central bank's decision on interest rates at http://business-times.asial .com.sg
      36 words
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      19 1 EXECUTIVE M MONEY Citigroup sets sights on Asian wealth PG3I Hill 8"8 87 81~*****4" Marietta Digest on Pg 2
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  • TOP STORIES
    • Article, Illustration
      Lock icon UOB gets in touch with its feminine side
      313 2  -  It's offering a current account for women that offers a range of perks By SIOW LI SEN [SINGAPORE] United Overseas Bank today launches a current account for women, expanding its range of products for a group that is still relatively untapped but
      313 words
    • Article
      Lock icon MARKETS DIGEST
      136 2 STI 2,137.17 (+11.92) ST INDEX FUTURES 2.122.00 (+6.00) SIMSCI 253.28 (+2.14) SIMSCI FUTURES 251.10 (+1.30) MARKETS Tuesday Change KLSECOMP 892.03 +13.07 NIKKEI 225 Closed HANG SENG 13.893.98 -14.99 SET INDEX 669.72 +10.84 JAKARTA COMP 1,033.50 +6.98 MANILA COMP 1,865.11 +10.48 SEOUL COMP 913.82 -4.6 SHENZHEN B Closed BOMBAY
      136 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      905 2 Chip equipment sales in S'pore to fall 15%: SEMI SPENDING on chip equipment in Singapore is expected to fall 15 per cent to US$l.4 billion this year, according to the Semiconductor Equipment and Materials International, an industry body whose members include about 85 per cent of the world's
      905 words
    • Article, Illustration
      Lock icon Singapore bids farewell to the People's President
      381 2  -  Singaporeans throng the Istana to pay final respects By JOYCE KOH [SINGAPORE] It was a moving scene as thousands thronged the Istana to pay their last respects to former president Wee Kim Wee. From mothers with babies, to office workers and students, they
      DESMOND WEE/ST  -  381 words
    • Article, Illustration
      Lock icon Chip equipment sales in S'pore seen falling 15%
      306 3  -  By ROLAND LIM (SINGAPORE] Spending on chip equipment in Singapore is expected to fall 15 per cent to US$l.4 billion this year, according to esti-. mates from the Semiconductor Equipment and Materials international (SEMI), an industry body whose members include about 85
      Source: SEMI estemates  -  306 words
    • Article
      Lock icon On offer for S'pore resorts: cutting-edge Vegas technology
      575 3  -  US company Avaya says its system can easily be applied in Singapore By RAJU CHELLAM in Las Vegas CUTTING-KDGK communications technology in use at The Wynn the world's newest and poshest integrated resort and casino in Las Vegas will be available for
      575 words
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      65 2 *IHm I I W 4 j 125 Years t> Hupa /inn i ni>Qtiflnp Ullnrlifliaiifflp yniHißMMwnß|ofL Ul V\ 1111 Hll A IIT l RT^KP ARLE iI^H« Im, jij J.I J.ii S^WilßiM' p fm^SIISmS^mmKimSSS^SSSS^SSSSS^^SSS^n j Ask us about Corporate, Individual or Group Instruction. 3 Call Berlitz today 6733-7472 or visit www.berlitz.com J
      65 words
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      268 3 www.tradershotels.com H I #951 I TOADERSHOTCLS 1 I S By Shangri-La I To fazcy tjow Sparc $vr n/rir\kk>--fr&e> 1 W ivhe-n ijovW o»i the road, folding rt ft V \Y\sidc> rfc drvj-olomtofj. bag.. I+'S fe« I likely fa crmph in c&e>. J j SMART TRAVELLERS KNOW. TRADERS HOTELS I BEIJING
      268 words
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  • COMPANY NEWS
    • Article
      Lock icon Suntec suffers setback in tussle for Orchard Rd mall
      665 4  -  Ergo consortium exercises right of first refusal to buy Metro's bonds By KALPANA RASHIWALA SUNTEC Reit has been dealt a blow in its attempts to thwart German insurer Ergo's efforts to float a real estate investment trust holding stakes in two
      665 words
    • Article, Illustration
      Lock icon Grandson of late Lien Ying Chow joins UOB board
      380 4  -  By SIOW LI SEN MICHAEL Lien, a grandson of the late Lien Ying Chow, the founder of Overseas Union Bank (OUB), has been appointed as a nonexecutive director of United Overseas Bank (UOB). Mr Lien joined the board yesterday to replace
      380 words
    • Article
      Lock icon Boardroom to buy M'sia firms; 1-for-4 issue may fund more
      409 4  -  By WONG WEI KONG BOARDROOM Ltd is on a roll, making its second major acquisition in as many months. And to fund any further expansion, mainboardlisted Boardroom, which provides corporate secretarial, share registration and accounting services, is planning a rights
      409 words
    • Article
      Lock icon CapitaMall pays $78m for Sembawang mall
      598 4  -  By KALPANA RASHIWALA CAPITAMALL Trust (CMT) continues to extend its reach when it announced yesterday its second mall acquisition in two weeks. It is paying $78 million for the 999-year leasehold Sembawang Shopping Centre, whose anchor tenant is Giant hypermarket. Last month, it inked
      598 words
    • Article
      Lock icon SingTel regional mobile customers reach 65 million
      358 4  -  By ANGELA TAN SINGAPORE Telecom's regional mobile customer base hit 64.81 million at end-March up 5 cent from three months earlier despite a dip in Australia. Compared with a year ago, the telco's combined mobile subscriber base at home, in Australia and four
      358 words
    • Article
      Lock icon When judicial management is best
      557 4  -  HOCK LOCK SIEW By WONG WEI KONG SHAREHOLDERS usually react with shock when a company goes under judicial management. That's understandable, given that the judicial management process applies only when companies are in difficulty, but this should not mask the fact that judicial management is
      557 words
    • Article, Illustration
      Lock icon Utac to invest US$30m in JV with China's SMIC
      397 6  -  S'pore semicon firm will paycash, IP for 30% of Chengdu test, assembly plant By CHLOE CHOY UNITED Test and Assembly Center (Utac) is investing US$3O million for a 30 per cent stake in a joint venture with a Chinese partner to
      397 words
    • Article
      Lock icon A-Sonic scales back purchase of Airocean stake to 7.3%
      418 6  -  By VEN SREENIVASAN LOGISTICS and express courier specialist Airocean Group and aircraft components supplier A-Sonic have scaled back a deal to link the two companies. Instead of A-Sonic buying a fifth of Airocean, as first planned, it has acquired 33.2 million
      418 words
    • Article
      Lock icon SembCorp Logistics profit falls 8% to $23m in Q1
      216 6 EARNINGS RESULTS But it's maintaining target of 20-25% earnings growth SEMBCORP Logistics, South-east Asia's biggest logistics firm, posted an 8 per cent fall in quarterly net profit yesterday but said it maintained its target of 20-25 growth in net earnings in
      216 words
    • Article
      Lock icon Cosco Q1 earnings double to $25.8m
      263 6 Reuters COSCO Corp (Singapore) Ltd, a unit of China's biggest shipping firm, yesterday posted a more than doubling in quarterly net profit, helped by soaring global trade fuelled by China's booming economy. The Singapore-listed bulk carrier, owned by China Ocean Shipping Co, said that
      Reuters  -  263 words
    • Article
      Lock icon Pearl Energy FY04 operating profit up 54%; below forecast
      343 6  -  By RONNIE LIM IN what it described as a "transitional year", newly listed exploration and production (E&P) company Pearl Energy yesterday reported a slightly lower-than-expected operating profit, before working capital changes, of US$l5.B million for FY2004. Although this key profitability measure
      343 words
    • Article
      Lock icon Temasek in US$7.5m India deal
      289 9  -  It ties up with JP Morgan Chase affiliate to invest in Apollo Health Street By NANDE KHIN TEMASEK Holdings is beefing up its presence in India with a portfolio-enhancing US$7.5 million joint investment in Apollo Health Street. The investment is being made through Temasek's wholly-owned
      289 words
    • COMPANY BRIEFS
    • Article, Illustration
      Lock icon Soilbuild starts work on Kranji job
      262 9  -  It is first private firm picked by JTC to build factories By LISA TAN SOILBUILD Group Holdings has become the first private enterprise appointed by JTC Corporation to build low-rise factories. With a push of the button by Minister for Trade Industry Lim Hng
      ARTHUR LEE  -  262 words
    • Article
      Lock icon China soy product maker launches IPO
      218 9  -  IPO WATCH By CAROLYN QUEK CHINA-BASED Pine Agritech, a manufacturer of soybean-based products, has launched its initial public offering. The mainboard aspirant seeks to raise $80.7 million in net proceeds from its issue of 150 million new shares at 57.5 cents each. The IPO,
      218 words
    • Article
      Lock icon Longcheer launches IPO to raise $25.3m
      192 9 LONGCHEER Holdings, a Chinese independent mobile handset design house, launches its initial public offering of shares today to raise a net $25.3 million. Longcheer, which provides hardware, software and external design, is one of China's top five mobile handset design providers, according to Norson
      192 words
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      310 5 I INITIAL PUBLIC OFFERING I A I Pine Agritech Limited I I I I (Incorporated in Bermuda on 7 September 2004) I B ijiflfß Jt i *""s«*« I I We are principally engaged in the manufacture I I and sale of soybean-based products I I Invitation in respect of 150,000,000
      310 words
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      313 6 singaporeSftSfestival v j|li^ Vez In Puur, Wim Vandekeybus was by myths innocents. He creates a timeless, fictional, yet j universal story about living in isolation and the of the outside world, and innovatively combines video and film with the story that being played out on stage. $52, $42, May objectionable
      313 words
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      66 7 KS Tech Ltd is now known as KS Energy ammm jjjjl m KKK I JBI« Sest Wishes From: gpoCßCßank 8 DBS RZR A Law cyrus capital consulting rTTTTTTTi The Investor Relations Consultants to corporation EZRA HOLDINGS LIMITED 33 PRINT MART ifi .A -rrooA CULTURAL ENTERTAINMENT HOLIDAYS PTE LTD CHEN SHAN
      66 words
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      265 8 |vif v^K'f' Wf% j :^.,&y. v. ■W r T i "#H BUBHHd vBI•- i H*T\l *\l J|| SSB gtM J M Longcheer Holdings Limited is a leading Chinese mobile handset design house in China, II |sjS^^^^9|9RßflHHßj #i mii the largest mobile handset market in the world. mil Ij K v
      265 words
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  • Page 9 Advertisements
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      145 9 We know how unexpected costs and unfavorable currency fluctuations can affect your business. DHL Import Express gives you transparent costs that are fixed in your home currency, so you get one invoice from one company. Whether you're shipping between countries or importing from a choice of over 200, one phone
      145 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon A tense week ahead expected for currencies
      892 10  -  CURRENCIES Uncertainties abound over Chinese yuan peg, Fed rate meeting LARRY WEE Senior Correspondent IF there ever was a nail-biting week in currency markets, the coming one has to rank up there as one of the toughest to call. In the region, the
      892 words
    • TRADES TO WATCH
      • Article
        Lock icon SembCorp non-exec director buys 50,000 shares
        390 10 SEMBCORP Industries (SCI) said that non-executive director Yong Ying-I bought 50,000 shares on the open mafcket last Wednesday for $1.99 each. Ms Yoqgg, who is Ministry of Manpower permanent secretary and Singapore Workforce Development Agency chairman, joined the board in late-May, 2003. Separately, SCI
        390 words
      • Article
        Lock icon UOL further raises its Hotel Plaza stake
        79 10  -  Compiled by JEAN CHUA UNITED Overseas Land's stake in subsidiary Hotel Plaza Ltd has increased to 306.28 million shares or 76.57 per cent of the hotel's issued and paid-up capital. The increase was due to a purchase of 121,000 H(Jt6l Plaza shares on
        79 words
    • Article, Illustration
      Lock icon Untitled
      437 10 OTHER SINGAPORE INDICES May 3 VALUE CLOSE BT OB/OS -99.00 +245.00 BT CADI -*****.00 -12.00 BT 10-day MA -*****.00 -9.00 All-SG Equities 550.14 +2.69 SG Equities Elect 133.46 +2.73 SG Equities Fin 1607.32 +12.48 SG Equities Prop 565.14 -3.57 SIMSCI 253.28 +2.14 SiMSCI Futures 251.10 +1.30 MOST ACTIVE STOCKS VOLUME
      437 words
    • Article
      Lock icon BROKERS' TAKE
      263 10  -  Compiled by JOYCE KOH Singapore Land May 3 dose: $5.85 DBS VICKERS RESEARCH. May 3 SINGLAND'S Q1 FYOS net profit of $19 million was down 23 per cent year-on-year due mainly to lower contributions from the Marina Square complex, which is still undergoing refurbishment works. Sing Land is
      263 words
    • Article, Illustration
      Lock icon Sesdaq index at 21 -month low
      425 10  -  STOCKS TEH HOOI LING Senior Correspondent ENCOURAGED by gains in the US markets, the Straits Times Index yesterday ended three days of losses to close 11.92 points or 0.56 per cent up at 2,137.17. However, a gloomy mood still shrouded the small-cap stocks, with
      425 words
    • Article, Illustration
      Lock icon STI heading south as rebound stalls
      297 10  -  CHART POINT By LIM SAY BOON, KEN TAI, OCBC Investment Research THE rebound last week has gone nowhere and the Straits Times Index looks likely to resume its journey south. Never mind yesterday's 12-point run-up on the STI it ended up at the day's
      297 words
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  • ECONOMY WATCH
    • Article
      Lock icon ADB may sell up to US$5b of bonds this year
      672 12 Threefold jump planned as fewer borrowers are set to prepay loans Bloomberg [ISTANBUL] The Asian Development Bank plans to raise as much as US$5 billion selling debt this year, including at least US$l billion of global bonds, to fund the
      Bloomberg  -  672 words
    • Article, Illustration
      Lock icon US to break trade impasse with Asean
      482 12 AFP [WASHINGTON] Deputy US Secretary of State Robert Zoellick is determined to break a free trade impasse with Southeast-Asia during a visit to the region this week but has cautioned that any agreement reached will have to be comprehensive. Two years after President
      AFP  -  482 words
    • Article
      Lock icon Factory orders post unexpected rise
      246 12 LATEST US DATA Reuters [WASHINGTON] New orders at US factories rose by a modest 0.1 per cent in March, government data showed yesterday, confounding forecasts for a sharp drop after non-dura-ble goods orders recorded a solid advance. The Commerce Department said it was the highest
      Reuters  -  246 words
    • Article
      Lock icon Shadow Fed sees higher rates, soft spot temporary
      407 12 Reuters [WASHlNGTON] The Federal Reserve should keep raising interest rates to keep inflation at bay. a panel of top economists said on Monday, shrugging off evidence that the US economy has hit another soft spot. The Shadow Open Market Committee, meeting on
      Reuters  -  407 words
    • Article
      Lock icon Business conditions in HK improve in April
      402 12 Reuters [HONG KONG] Business conditions in Hong Kong improved last month to their best level in a year as companies enjoyed a marked increase in new orders, the Brunswick Hong Kong Purchasing Managers' Index showed yesterday. The seasonally adjusted purchasing managers' index (PMI)
      Reuters  -  402 words
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      181 12 to on. p.r table $76 onwards. v H SIGNATURE TEOCHEW PORRIDGE Featuring Chefs Specialities Mondays to Fridays, 12noon 2.30pm Come down to New Park Cafe for a delicious servings of Teochew Porridge buffet with a wide RD K assortment °f dishes such as Yong —j-—■ Tau Foo, Traditional Pig's Organ
      181 words
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      103 12 Ihe I ill l!, This mango harvest, Vansh presents you with a succulent manifestation of mango dishes! Hut IS!! rV makov Created with the most fragrant alphonso (I ((k! mangoes from the Kokan region in India, indulge in delightful treats like tender grilled chicken drums stuffed with mangoes and tawa-grilled
      103 words
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      Lock icon Page 12 Advertisements Column 3
      76 12 Mother's Day High Tea Buffet 5515.00 nett per adult 01 Fried Vegetarian Beehoon D MeeSlam H Shanghai Dumplings P] Deep Fried Fish Balis W Prawn Paste Beancurd Rolls M Steamed Crystal Dumpings yfl Chef's Salad with ChkSfcen Toppings H Sayoh Lodeh BuborChaCha H Mini Curry Puff Assorted Pastries Cakes Assorted
      76 words
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  • MALAYSIA/INDONESIA
    • Article, Illustration
      Lock icon M'sia investors enjoy rising dividend yields
      489 13  -  More companies also buy back shares to increase shareholder value By S JAYASANKARAN in Kuala Lumpur DIVIDEND yields are soaring in Malaysia, a development which analysts say is underpinning the trend of increasing shareholder value among Malaysian listed companies. Indeed, according to a recent
      489 words
    • Article
      Lock icon Indonesia to offer 22 oil drilling areas this month
      268 13 Bloomberg [JAKARTA] Indonesia will this month offer oil drilling rights in 22 areas as part of a plan to stem a decline in production that will probably turn the country into a net importer this year. Explorers will be invited to
      Bloomberg  -  268 words
    • NOTE BOOK
      • Article
        Lock icon Yuan review not dire, HSBC chairman says
        74 13 Bloomberg [KUALA LUMPUR] Hongkong Shanghai Banking Corp chairman David Eldon said there is "no compelling" need for China to revalue its pegged currency because inflation isn't a big enough problem for the country's economy to warrant a change. "China does not have a
        Bloomberg  -  74 words
      • Article
        Lock icon India courts Intel over next plant's location
        70 13 Bloomberg (NEW DELHI] India's Information Technology Minister Dayanidhi Maran plans to meet Intel Corp chief executive Craig Barrett this month to encourage the world's biggest computer chipmaker to set up its next plant in the country. "I'll be going to the US in
        Bloomberg  -  70 words
      • Article
        Lock icon Lenovo names IBM's Stephen Ward as CEO
        40 13 Bloomberg [HONG KONG] Lenovo Group named International Business Machines Corp's Stephen Ward as chief executive after completing the US$l.25 billion takeover of IBM's PC division. Lenovo CEO Yang Yuanqing was named chairman. Bloomberg
        Bloomberg  -  40 words
    • Article
      Lock icon Top Indon investment post filled
      232 13 New appointee a close ally of Yudhoyono AFP, Bloomberg [JAKARTA] Indonesia's president has appointed a close ally to replace a top investment official accused of assaulting foreign executives at a children's basketball game, officials said yesterday. Muhammad Luthfi, a businessman who was a key figure
      AFP,; Bloomberg  -  232 words
    • Article
      Lock icon Asia Pulp resumes debt payments
      276 13 Bloomberg [JAKARTA] Asia Pulp Paper Co (APP), South-east Asia's biggest defaulter, says it has resumed payments to overseas creditors, including JPMorgan Chase Co and Goldman Sachs Group Inc, after reaching an agreement to repay about US$6 billion owed by three Indonesian units. The company on
      Bloomberg  -  276 words
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      202 13 MB in c 2.-. |hhhhhh|| HHH H ■■■■■■■■■■■■■■■■■■■■■■■■■■■■■Jl ImHHMMHMgHI I I 0. II I I I I mmmmmmmmmmmm r yI M .c« 1M JfSp v Me&& v -v 'Ij^fl^HßHiEk: M^MMH|Maa^sgH^^^'^^ :^.^a^^>!S; -J r MPS* :***?-.*V'■/*£■ Mfe-fc jiSl** r v«Hß|^^^^9|^^H|nHn|^',;' "'SKEIJ^SSE-1 Slllr® •-vSr^Mfflffl 59SwR ..v/.»..'■ w. u IMAGINE SOLUTIONS INSPIRED BY
      202 words
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  • GREATER CHINA
    • Article
      Lock icon Stanley Ho building biggest Macau casino
      509 14 Oceanus seen to cost HK$6.2b, with completion expected in 2009 AFP, Reuters [HONG KONG] Macau tycoon Stanley Ho yesterday unveiled plans for what will be the gambling haven's largest casino, the Oceanus, a colossal "downtown entertainment complex covering three city blocks. The casino, which
      AFP,; Reuters  -  509 words
    • Article
      Lock icon HK to relax Reit rules in bid to catch up with S'pore
      249 14 Bloomberg [NEW YORK] Hong Kong s securities regulator will allow real estate investment trusts (Reit) to invest in properties outside the city in order to catch up with Singapore in developing Asia's Reit market. Hong Kong's Reits currently
      Bloomberg  -  249 words
    • Article, Illustration
      Lock icon US pressure on China may well boomerang
      468 14  -  CHINA INSIGHT Punitive tariffs and other hardline tactics will hurt American interests as well JEAN CHUA Reporter IN just 26 years since China turned its back on the centrally planned economy, the country's trading success has made it and not the European Union
      468 words
    • Article
      Lock icon China offers to hold talks with Taiwan on direct transport links
      324 14 Bloomberg [SHANGHAI] China offered to hold talks to resume direct transportation links and said it may relax restrictions for travel to the island after Taiwan opposition Nationalist Party chairman Lien Chan visited China to ease more than 50 years
      Bloomberg  -  324 words
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      1819 14 Deutsche Bank 0 (Incorporated in Germany) Group Balance Sheet Group Income Statement Assets in m. 2004 2003 in m. 31.12.2004 31.12.2003 Net interest revenues: Cash and due from banks 7,579 6,636 Interest revenues 28,023 27,583 Interest-earning deposits with banks 18,089 14,649 Interest expense 22,541 21,736 Central bank funds sold and
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  • INDIA
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      250 15 JwM W v jmm V >0 w rjl *<• s y' B| fl B v Sk/a VtJT *5»fU» 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
      250 words
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  • ASIA-PACIFIC/WORLD
    • Article
      Lock icon Thai Q1 GDP grew less than 5%: Thaksin
      405 16 But central bank has told Cabinet that economy will improve in Q3 Reuters, Bloomberg [BANGKOK] Thailand's economy grew less than 5 per cent in the first quarter of this year, but Prime Minister Thaksin Shinawatra says the government aims for growth of
      Reuters,; Bloomberg  -  405 words
    • Article
      Lock icon Profit fall for foreign banks in S Korea
      145 16 Reuters Bloomberg [SEOUL] Foreign banks operating in South Korea posted a 20 per cent fall in a combined net profit last year as funding costs rose and they lost money in offering currency and derivatives products, the financial regulator said. Profit at
      Reuters; Bloomberg  -  145 words
    • Article, Illustration
      Lock icon Reuters, CME boon for forex traders
      450 16  -  CME FX service launched here smoothens dealing By SIOW LI SEN [SINGAPORE] Reuters and the Chicago Mercantile Exchange (CME), America's biggest US futures exchange, last month launched a new service here which expands access to the world's foreign exchange community. Singapore is part of
      CHRIS LOH  -  450 words
    • Article
      Lock icon UBS sees Asia leading its private banking growth
      335 16 Reuters, Bloomberg [ZURICH! ÜBS, which yesterday reported a record first-quarter profit, saw healthy client money inflows in its Asian business and expects those operations to grow at a faster pace than its units in other regions. "In wealth management, we've seen yet
      Reuters,; Bloomberg  -  335 words
    • WORLD WATCH
      • Article
        Lock icon Marsh's profit falls 70% in Q1
        105 16 Reuters [NEW YORK] Marsh McLennan Cos, the insurance broker that is to pay US$B5O million to settle a bid-rigging probe, yesterday said first-quarter profit fell 70 per cent, hurt by charges for restructuring and legal matters. Net income for Marsh fell to US$l34 million
        Reuters  -  105 words
      • Article
        Lock icon Commerzbank's core earnings dip
        111 16 Reuters [FRANKFURT] Commerzbank disappointed investors yesterday when it revealed that it was saved from a first-quarter profit slide by a windfall of about 200 million euros (*****.5 million) and warned that conditions remained tough. The gain from selling stakes in Brazilian bank Unibanco and engineering company
        Reuters  -  111 words
      • Article
        Lock icon Prada may sell Helmut Lang
        87 16 Bloomberg [MILAN] Prada Holding NV, the owner of fashion brands including Jil Sander, is in talks on selling its Helmut Lang business. A Prada spokesman confirmed the negotiations after the London-based Times on Monday reported that the company has discussed a sale of Helmut Lang
        Bloomberg  -  87 words
      • Article
        Lock icon WHO to track counterfeit drugs
        106 16 AP [MANILA] The World Health Organisation (WHO) said yesterday it will launch the first Web-based system for tracking counterfeit drugs, which account for up to 10 per cent of medicine on the world market. WHO noted that a 2001 study in South-east Asia's Mekong region
        AP  -  106 words
    • Article
      Lock icon Las Vegas Sands Q1 profit down on financing costs
      262 16 Bloomberg [LAS VEGAS] Las Vegas Sands Corp, which owns casinos in Las Vegas and Macau, said first quarter profit fell, mainly due to a large charitable contribution and early repayment of debt. The company, which went public last December, said net
      Bloomberg  -  262 words
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      498 16 Challenge, Maze, 12 May 2005, 9.30 am to spm, The Ballroom, Suntec Singapore v^. sh Is your company facing a dilemma over the choice of transforming m< Vf M -Mm or reforming current business practices? -m w \rJf WW* fm 3 Is your organisation stuck in the neutral gear in
      498 words
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  • WORLD
    • Article
      Lock icon Verison claims MCI as Qwest bows out of fight
      552 17 MCI's board accepts sweetened takeover offer from Verizon NYT [NEW YORK] Verizon Communications won a fierce takeover battle on Monday when Qwest Communications said it would no longer pursue buying MCI Inc, the once-bankrupt long distance carrier. The move concludes a
      NYT  -  552 words
    • Article
      Lock icon GE subpoenaed in SEC reinsurance probe
      200 17 Bloomberg l BOSTON] General Electric (GE) has received a subpoena from the Securities Exchange Commission (SEC) about a type of insurance policy that can be misused by companies to smooth earnings. The company said it received the request for documents related to so-called loss
      Bloomberg  -  200 words
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      Lock icon Gates regrets Microsoft used options
      407 17 Software giant's new stock grants approach to reward employees is better, he says Bloomberg, Reuters [SEATTLE] Microsoft Corp chairman Bill Gates said this week that he regretted the software giant had ever used stock options to reward its employees. "I regret that we ever used
      Bloomberg,; Reuters; AP  -  407 words
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      Lock icon Fidelity unveils major management shuffle
      509 17 Bloomberg Reuters [BOSTON] In a major management reorganisation on Monday, Fidelity Investments named Abigail Johnson to run the fund company's retirement services business. This will help expand the background of the executive widely expected to succeed her father as leader of the world's largest mutual
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    • Article
      Lock icon Time Warner staff data goes missing while in transit
      388 17 Secret Service now investigating lost back-up tapes case Reuters, NYT [NEW YORK] Time Warner said on Monday that sensitive data, including names and Social Security information, on 600,000 current and former employees stored on computer backup tapes has been lost by
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      Lock icon Dearer oil boosts demand for Islamic bonds
      277 17 [LONDON] High oil prices and a growing wariness among Middle Eastern investors towards US securities, traditionally the main destination for the region's oil funds, are fuelling the development of a new asset class Islamic bonds says a report in the Financial Times. First
      277 words
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      632 17 Gitel-frtc 1810 289 8822 IN THE MATTER OF THE COMPANIES ACT CAP 50 AND IN THE MATTER OF BCCOMPONENTS SINGAPORE PTE LTD (Co. Reg. No. *****0090 D) NOTICE OF RESOLUTIONS FOR MEMBERS' VOLUNTARY WINDING-UP (Pursuant to Section 290) At the Extraordinary General Meeting of the members of the above-named Company,
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  • AVIATION
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      Lock icon Qantas warns jobs could move offshore
      453 18 CEO says airline has to re-invent itself to face new challenges AFP [SYDNEY] The head of Australian flag carrier Qantas warned jobs could be shifted offshore as the airline moves to re-invent itself in the face of increasing fuel prices, it was reported yesterday.
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    • Article
      Lock icon Air India to resume flights from Dhaka after 12 years
      135 18 AFP [DHAKA] Air India will resume flights from the Bangladesh capital Dhaka from June, 12 years after it stopped the service due to a lack of aircraft, officials said yesterday. "We've now enough aircraft and we've decided to operate six
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    • Article
      Lock icon Pirate radio station gives pilots a shock
      237 18 AFP [LONDON] British police have moved to swiftly shut down a pirate radio station after pilots complained that thumping dance music was drowning out instructions from air traffic controllers as they landed at a nearby airport, a report said yesterday. Pilots landing passenger
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      Lock icon EU, US to push for accord on subsidies
      448 18 AFP [PARIS] EU trade chief Peter Mandelson and his new US counterpart agreed on Monday to continue negotiations to resolve a row over state aid to rival aircraft makers, as opposed to taking legal action, officials said. The agreement between Mr Mandelson
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    • Article
      Lock icon Boeing sees aerospace research tie-up with Singapore
      165 18 AFP [SINGAPORE] US aerospace giant Boeing said yesterday that it expected to sign an agreement with Singapore's national science and technology agency to jointly carry out aerospace research. Boeing said in a statement received here that its partnership with the Agency for Science,
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    • Article
      Lock icon US airport screeners lack training: report
      272 18 AP [WASHINGTON] A Congressional report released on Monday criticised the Transportation Security Administration (TSA) for failing to produce a standard to measure the quality of its airport screeners and for not providing them promised training. The Government Accountability Office (GAO) said while it may
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    • Article
      Lock icon AIRCRAFT ARRIVALS AND DEPARTURES
      400 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:
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      121 18 Call toll-free 1800 289 8822/Enail recruit ©sph.com.sg A Singapore-based OIL TRADING COMPANY is expanding rapidly into the downstream oil gas field. We have an immediate vacancy for a PROJECT MANAGER who can lead a small team of people to work in all aspects of the projects from inception to completion.
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  • SHIPPING
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      Lock icon NOL box volume up 11% in four weeks to April 8
      238 19 Bloomberg [SINGAPORE] Neptune Orient Lines, which operates Asia's second-largest container line, handled 11 per cent more containers in the four weeks to April 8, helped by growing demand for Asian products. The company's container shipping unit, APL, carried the
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      Lock icon PSA Int'l makes fresh foray into Indian port market
      555 19  -  Italian unit Voltri involved in winning bid to redevelop Kandla berths By DONALD URQUHART [SINGAPORE] PSA International has made another foray into India this time for the northern port of Kandla and via its Italian terminal venture, Voltri Terminal Ruropa. PSA's
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    • Article
      Lock icon Kuwait invites bids for US$2b mega-port project
      320 19  -  By DONALD URQUHART (SINGAPORE] Eyeing a slice of the expected rise in container cargo movements in the region, Kuwait is the latest country to jump on the mega-container port bandwagon with the acceptance of bids for the first phase of a US$2 billion
      320 words
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      Lock icon TRANSPORT STOCKS
      287 19 SCX '000 May I SS W- Vol CH Offshore 0.35 unch 183 ChuanHup 0.73 0.01 1070 Cosco Corporation 1.73 -0.01 2221 CWT Distribution 0.62 unch 0 EzraHldgs 1.24 -0.04 683 Freight Links 0.08 unch 147 Grand Banks Yacht 0.96 unch 18 Java Holdings 1.06 0.01 156 K1 Venture
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      Lock icon Liner industry expected to steam ahead
      981 19 Measures introduced during the last downturn could enable ocean carriers to withstand challenges that lie ahead PSA's the Helm magazine THE liner shipping industry is on a roll. Ocean carriers are currently enjoying a boom, which started towards the end of 2002, when a
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      Lock icon Greek navy probing incident on Norwegian vessel
      217 19 Reuters [ATHENS] The Greek navy sent armed forces on Monday to investigate an incident aboard a Norwegian cargo ship which could be an attack by pirates or a mutiny, a Defence Ministry source said. The navy sent a frigate, a helicopter and a
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  • EDITORIAL & OPINION
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      Lock icon Creating a truly Asian bourse
      498 20 EDITORIAL IT is a sobering fact that Asia Pacific's equity markets comprise only 18 per cent of total world market capitalisation. Excluding Japan, the number falls to a mere 9 per cent. More significantly, this 9 per cent share is further split into many small
      498 words
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      Lock icon Winds of change a-blowing in Taiwan
      763 20  -  THE BOTTOM LINE FRANK CHING CONTACTS between the two sides of the Taiwan Strait are developing at breathtaking speed. James Soong, chairman of Taiwanese opposition People First Party, is scheduled to visit mainland China on May 5-12, hot on the heels of the highly
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      Lock icon Put accusers on the stand
      888 20  -  Hedge funds demand transparency but they aren't exactly shining examples themselves NEIL BEHRMANN London Correspondent CORPORATE scandals during the past few years have brought in their wake better governance and transparency of businesses. But let's turn the tables. What about the governance of large shareholders,
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      Lock icon Improving India's infrastructure
      1650 21  -  With forex reserves of about US$140b, India is considering using part of its war chest to upgrade its public facilities By AMARENDU NANDY, RAMKISHEN S RAJAN IN their quest to raise the yields on their large stockpile of foreign exchange reserve holdings, many Asian countries have been
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    • Article
      Lock icon No change in i-mode plans
      467 21  -  LETTERS TO THE EDITOR Jeannie Ong head, corporate communications and investor relations, StarHub Ltd WE refer to the commentary, "Star Hub rethinking imode services?", by Amit Roy Choudhury (BT, April 28). While we are glad that the writer has put forth a good round-up of
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      Lock icon MOH: Priority is lower income
      213 21  -  Karen Tan (Ms) Director, Corporate Communications Ministry of Health IN "Don't raise Medisave ceiling" (BT, April 26), Leong Sze Hian argued that "healthcare policies should focus on the lowerincome". We agree. This is why our resources are prioritised towards basic medical services, including the provision
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    • Article
      Lock icon Report of comment missed the point
      154 21  -  Denis Distant Singapore I REFER to the article "Rocky regional road for banks" by Siow Li Sen (BT, May 2) and would like to clarify that the reference to my comment at the recent UOB AGM (annual general meeting) that the bank had made
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      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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  • Page 21 Miscellaneous
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      330 21 CRYPTIC CROSSWORD ACROSS 6 An amphibious creature in 1 The team-mates I train simul- prehistoric times? (4) taneously (2,3,4,4) 7 Trou 9 hs for s,ck Germans (7) 10 Laconic in taking a pall (7) 8 The plot may see Russian ath--11 A bridge tool (7) lete up the pole (7,6)
      330 words
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  • Article
    Lock icon SINGAPORE STOCKS
    7632 22 SCX MAINBOARP Transaction date: May 3 ■as. a. a .a ■r-ara.-s wa art-a. c— a a ■r-afa.-s s-; s-a US 15 S7I6 1«Scrftvwr*5c 4 *05 2*01 35 35 8 l*J JO II 3434 KianAnn2fc_ _1» *05 10IS 17 IS |6 t? 35 I* 19 IJ 49 7 S4S
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  • Article
    Lock icon FINANCE & COMMODITIES
    3328 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES talK*CWT toss Mint %dy %yr tfjr *d|r %r M»v 2 Into Chang* Oangi Change Change Chang? Owmi Maid Index Preliminary 833 4 03 -2 J 02 3 4 00 3.9 i tAff PnH.mifwty 7713 04 02 00 33 02 -34 Europe Preliminary 1066.6
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      2005 24 I TO USA/CANADA I I EXPORT I I OTHER DESTINATIONS I |VBSa VOY |WG ETA Stl| LONG BEACH [DALLAS [HOUSTON |MEMPHK [CHCAfiO[ HEW YORK TO AUSTRALIA (AUSTRALIA ASIA EXPRESS) 00Q HAMBURG IIEII 03/05 04/05 20/05 24/05 27/05 25/05 25/05 2«/05 VESSEL VOY EXA SM PRC 55 M STB MB AM.
      2,005 words
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      848 24 IINTERASIA HOttO SBTVKI vßsa/vor mrqci) manpi ntc »ot m sw jw swots antes» 30 4.15 23/04 25/w v/w STIAITS VENTUtt Of/OS 15 3.2 72/04 01/05 03/05 05/05 STCAITS VBmjtE 10/D5 I IS I 3.7 07/05 10/05 I AUSTRALIAN ROtO SIRViCE 1 VBSa/VOT |MWnW)| MCHIW)| Ifl I 111 M STB MB.
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      1250 25 MOL Combines Q a range of shippma modes to ensure timely, reliable services covering major ports in J) Norm America, Europe, Japan, Asia, Africa Oceania. Abe accqrt hrtnt-Ask Cargoes to: BUSAN KWANGYANG SHANGHAI YANTIAN XIAMEN QMGOAO lELAWAN J JAKARTA SURABAYA KAOHSHJHC lAMGKOK LAEM CHAiAHG HtXHHHHH PAS« GUDAMG PMAHG PORT KHAWG
      1,250 words
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      1288 25 VESSEL VOY SIN JKT HKG KHHI INC KYH fUS VESSEL YOY SIN JKT SUB HKG DSN PUS HY VLADIVOSTOK IS»S 5/5 7/5 12/5 U/S 16/5 U/5 IS/S KMT( SINGAPORE SO7S IS/S 18/5 19/5 24/5 2S/S W/5 HY PROGRESS 095S 12/5 14/5 11/5 21/5 23/5 25/5 25/5 KMT( SHANGHAI 507S 22/5
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      795 25 m sj&xs&t WEEKLY EXPRESS SAILING SCHEDULE I ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS I vessel I vot Ism Ipjoang! Colombo I n.SHtv* 1 Colombo I PACIFIC QUEST *****W 109 MAY 110 MAY I 13 MAY I 16 MAY I 19 MAY I lUY UIDGt J 009W jO6
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      736 26 UmAM wallenius wilhelmsen website: http://www.2wglobDl.com VESSEL VOY RAMP HEIGHT SIN LK ~MAO~ HOP* ~MU~ SAV ~»AL ORE NYC WW MO» TAMPA AFSII 420T«is 6.4 M 04/05 30/05 09/06 13/06 17/06 15/06 19/06 TARAGO AFSI2 320Tbw 6.4* 14/05 10/06 19/06 23/06 27/06 25/06 07/07* TAMERLANE AFSIS 3201<ms 6.4 M 12/06 03/07
      736 words
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      1358 26 VESSEL VOY SIN PGU JSSSB *QI SH *1 /lu pa c mahassah J315 2S/04 30/04 PACMNPA 145<N 29/04 »*r »aii 1144 01 /OS 04/ OS CH 2301 0113P 29/04 30/04 PAtmTin !252 fll/SS MM. PACMNPA 1459N 30/04 01/05 CSF 2301 0114P ■■QHV PACBANDA 1460N 01/05 02/05 YlSStl VQY SI DJ»
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      618 26 BSAik MYANMA HH FIVE STAR UNE (Myaooiar National Line) Loading lor Yangon VESSEL VOY SIN PKI PEN PGU PAGAN 341W SU) HfA-AN 337W SIO IN MALAYSIA: lOUSTEAD SHIPPING AGENCIES KUI/PKL: 03-*****388 PEN: 04-2633*15 JMH ACCEPTIIIB CONVENTIONAL C6O VESSEL VOY HKG SM PGU PKL KUC UON HEART 131 SU) SU) SID
      618 words
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      466 27 Guaranteed Sailing! I Service from Singapore to: I Los flngeles ee^un g I 14 days transit. Mon Thurs cut-off I MUR SNIPPING INDIAN OCKAN ISLANDS/SOUTH AFRICA VESSEL TWU KK MIRI TGM SIN PK MTS REUNION NN El K CT VOYAGER V 032 Sofcd SdU SSoled SaM 10/05 IS/05 24/05 25/04
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      327 27 I E P CARRIERS ixi WTAwgn »r«w WEEKLY HIED DAT SAI IHG SIMGAfOKI PO»T UANC YANGON ivissti voy aw m m gbhowg mm jjMai Q2/OSMON 04/05 ra YANGON STAR 374N 04/05 fRI 01/05 MON 13/05 FRI ohhoug sow n/osnti UMifiß »/»sfri TAWCON STAR im 20/05 «l 23/0? MOW 27/05 FRI
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      830 27 FREIGHT LINKS EXPRESS PTE LTD 51 Penjuru Road, 3 Level, Freight Links Express Logisticentre, Singapore *****3. Tel: *****511 Fax: *****577 Hr E-mail: flesin@singnet.com.sg Website:http://www.freightlinks.net LCL SERVICE TO CHINA ASIA r W^TIM CEBU DALIAN HONG KONG JAKARTA QINGDAO WlwAl j^l SHANGHAI SURABAYA XINGANG XIAMEN BEST LCL RATES TO SSjgpO AARHAUS ASHDOD
      830 words
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      318 27 Liner brgokboUc tervice S.t. Atio/USA vice varto SPECIALISE IN HEAVY LIFTS A PROJECT CARGO YOKOHAMA PwlKrtw MVMDUSTMAI CENTURY M/tS Ua| M/Stodrtai. Vwtn*. •ttwr fmn m Mactawit sU6tffltt Dukmlm MV MDUSTtUi CHAXGa 25/05 gni |U Bum, Y|>|6.|lH. Lm| Vmnmk, HMMmI OtW parti M ynmt. Othen portl in USA, Maxim, Cambean A
      318 words
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      638 27 HHIKiGERPEARI 279N 03-04/05 10-12/05 17-18/05 I HMQH TIGER SEA 280N 06-07/05 13-15/05 20-21/05 HUUiiilll TIGER SKY 281N 10-11/05 17-19/05 24-25/05 1 ■SHXEIH TIGER WAVE 282N 14-14/05 20-22/05 27-28/05 ■■■■■TIGERPEARL 283N 17-18/05 24-26/05 31-01/06 TIGER SEA 284N 20 21/05 27-29/05 03-04/06 KiTwTT'iiaPHUTAN 315 U H/OS nnm oi-o?/ot ■MMRMTIGER SPIRIT 103 15-15/05
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  • MOTORING
    • Article, Illustration
      Lock icon Bugatti picks S'pore agent for 1m euro Veyron
      439 29  -  Much-hyped supercar offered to at least two prospective local buyers All reports by SAMUEL EE THE 1 million euro (552.14 million) Bugatti Veyron, one of the most expensive sports cars in the world, has been offered to at least two prospective Singapore
      439 words
    • Article
      Lock icon BMW may site new flagship showroom next to rival Merc
      509 29 BT exclusive Distributor said to have bought land at Alexandra Road A NEW stretch of Alexandra Road may soon be the focus of the Leng Kee motor belt as two German luxury marques set up showrooms next to each other.
      509 words
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      Lock icon Jackspeed full-year net profit up 25%
      349 29 STRONG growth in Europe and its OEM markets of Malaysia and Thailand drove Jackspeed Corporation's net profit 24.6 per cent higher to $2.47 million for the full year ended Feb 28. The mainboard-listed company also posted a 21.8 per cent increase in revenue to
      FILE PHOTO  -  349 words
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      403 29 'ESQ Leaders Talk 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 flf of offshore rigs. It is also a leading yard for
      403 words
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      149 29 DBSF LIMITED (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE TO CREDITORS NOTICE IS HEREBY GIVEN THAT a hearing has been fixed at 10 am on May 25 2005 in OS 523 of 2005/H in respect of an application by DBS Bank Ltd, the holding company of DBSF Limited (In Members' Voluntary Liquidation)
      149 words
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  • EXECUTIVE MONEY
    • Article
      Lock icon Playing hide and seek
      985 30  -  WILLIAM CHUA and WINNIE LIEW highlight the hazards of taking aggressive tax planning practices too far YOU AND THE TAXMAN By ERNST YOUNG TIS perfectly legal to minimise your tax bill. But overly aggressive tax avoidance, or I even worse, tax evasion, could spell trouble. Company
      985 words
    • Article
      Lock icon UNIT TRUSTS & FUNDS
      41 30 UNIT TRUSTS FUNDS Legend: All prices are indicative: Broadly Diversified: I Narrowly Focused: Lower Risk:^ Low to Medium Risk: Medium to High Risk: Higher Risk open-ended: Before subdivision of units: After subdivision of unit: SP after stock split: N.A.-Non Dealing Day
      41 words
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      Lock icon Citi sets sights on Asian wealth
      869 31  -  Rebranded private bank unit will focus on clients with more than US$10m in assets. GENEVIEVE CUA reports GENEVIEVE CUA CITIGROUP is rebranding its Smith Rarney operations in Asia and Furope to reflect w hat appears to be an expanded focus: wealth management for individuals
      CHRIS LOH  -  869 words
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      Lock icon Why it pays to invest your CPF Special Account
      1048 31  -  MONEY MATTERS It puts your funds to good use and instils the discipline of long-term investing WONG SUI JAU WHILE many investors are happy to leave their money in their CPF Special Account (CPFSA) earning a guaranteed 4 per cent a
      1,048 words
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      Lock icon FundWatch: Singapore equity
      443 31  -  By Chan Boon Lee, Standard Poor's associate, Fund Services A weekly Njhhght of to top tad secton over a 12-mon* period. Data from Standard A tax's Fund Services. TH6 year is proving to be a testing time for active managers of Singapore-focused slock funds. The reported criminal
      Source: S&P  -  443 words
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      Lock icon The steady performer
      1033 32  -  The DBS Shenton Income global fund is the biggest locally managed fund to date and it continues to deliver strong returns. GENEVIEVE CUA finds out what lies ahead GENEVIEVE CUA AT A TIME of widespread pessimism over the prospects of fixed income assets, the DBS Shenton Income
      Source: DBSAM  -  1,033 words
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      76 30 ■1 11 The first audible warrants commentary in Singapore is now Please SG Warrants Hotline at 6226 2828. Please also Warrants Website: Prices of warrants may rise or fall and may expire worthless, resulting in a total loss of investors' investment. Before investment, investors should consult their own professional advisers
      76 words
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      2 31 Yield Enhancement
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      143 31 International Business Park (IBP) Close to Jurong East MRT station and bus interchange *1 *115sqm onwards Raised floor system Column-free layout E7TT?l5fflT?BtWi 142sqm onwards Great tenant mix Column-free layout Changi Business Park (CBP) 10-min drive to Changi airport and close to PIE ECP 127sqm onwards Next to Singapore Expo Expo
      143 words
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      180 32 a WHERE THE MONEY IS Asian wealth PG3I TUVALU SHIP REGISTRY QJJ ALI T Y FLAG 1. Low taxes 4. Active role and representation in IMO 2. Agreements with lACS members 5. Worldwide network of surveyors staSoiy y cert n ifi<S£l? nCe f 6 No restriction on nationality of ownership
      180 words