The Business Times, 31 May 2005

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Total Pages: 32
1 32 The Business Times
  • 12 1 THE BUSINESS TIMES MICA (P) 089/03/2005 SINGM^jjF&g! at http7/business-times.asial.com.sg Tuesday May 31,2005
    12 words
  • 1100 1  -  Public asked to respond to consultation paper by July 1 By MICHELLE QUAH [SINGAPORE] The Singapore Exchange (SGX) has proposed tougher listing rules including a requirement that directors vouch for the truth and fairness of their company's results. Despite market opinion to the contrary,
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  • 526 1  -  Purchase done through serviced residences vehicle By KALPANA RASHIWALA [SINGAPORE] Property giant Far East Organization has bought Pacific Plaza on Scotts Road for $111 million from Bleau Investments, sources have told BT. The price works out to nearly $1,350 psf of lettable area
    FILE PHOTO  -  526 words
  • Page 1 Advertisements
    • 172 1 rmtk stake in parkway Chairman Anil Thadani EXPORT STORY JWranUHH Indian textile industry takes off pgiB ■■■BSBBBHi >if. h k*' r„ ♦;i* C' vt '*S «r' wL at FARE HIKE Transport operators' revenue to go up $13-14mi»G4 i Vr Euro takes a hit on currency n I l 1 markets;
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    • 11 1 SME SPOTLIGHT Where frozen food is hot PGII 8 m 1
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  • TOP STORIES
    • 641 2  -  Vote seen as setback for European integration By NEIL BEHRMANN in London THE euro bore the brunt of the decisive French rejection of the European Union's proposed new constitution, a move that will slow the continent's momentum towards closer political and economic integration.
      REUTERS  -  641 words
    • 660 2  -  By merely reflecting market practices, the changes are not going far enough HOCK LOCK SIEW By MICHELLE QUAH THE changes that the Singapore Exchange (SGX) wants in its current listing rules are intended to improve corporate governance and "promote an open and
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    • 515 2  -  Eight test-bedding projects to help boost technology By CHEN HUIFEN [SINGAPORE] The Public Utilities Board (PUB) yesterday announced that it is test-bedding eight projects with the private sector, a move aimed at accelerating the development of Singapore as a water technology
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    • 625 2 AS it ramps up exploration and production, Singapore Petroleum Company expects to produce more than 50,000 barrels per day of oil from its Indonesian and Vietnamese fields in three years' time a big jump from just 2,600 bpd now. And in the longer term, it hopes its offshore
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    • 465 4  -  This will result from overall fare increase of 2.4% by operators By SAMUEL EE [SINGAPORE] Public transport operators will see annual revenue increase by $13-$l4 million when fares are raised from July 1, 2005, said the Public Transport Council. The
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    • 560 4  -  M'SIA-JAPAN TRADE Deal allegedly favours bilateral needs over intra-Asean ones By ANTHONY ROWLEY in Tokyo THE economic partnership agreement endorsed last week between Malaysia and Japan, and lauded by political leaders on both sides, is already drawing fire for allegedly favouring bilateral cooperation between the
      REUTERS  -  560 words
    • 600 4  -  Surge to come from its Indonesian, Viet fields in 3 years By RONNIE LIM AS it ramps up exploration and production (E&P), Singapore Petroleum Company expects to produce more than 50,000 barrels per day (bpd) of oil from its Indonesian and Vietnamese
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  • Page 4 Advertisements
    • 801 4 Credit Lyonnais (Suisse) S.A., Geneva Head Office: Place Bel-Air CH-1204 Geneva, Switzerland Singapore Branch: #23-03 Capital Tower, 168 Robinson Road, Singapore *****2 CONSOUDATED BALANCE SHEET AS OF DECEMBER 31 2004 2003 1000 1000 CHF CHF 1 Assets Cash 48,588 16.716 Money market instruments 678,642 818,905 Due from banks 4,525,303 2,990,302
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  • COMPANY NEWS
    • 657 5  -  He is looking into how Parkway can work with Newbridge in clinical research By CHLOE CHOY NEWBRIDGE Capital's acquisition of a 26 per cent stake in Parkway Holdings came as a total surprise to Parkway chairman Anil Thadani, he said yesterday. Briefing
      FILE PHOTO  -  657 words
    • 312 5 It says debt restructuring will minimise loss for all Bloomberg CHINA'S government urged creditors of China Aviation Oil (Singapore) Corp (CAO), which sought bankruptcy protection after a US$55O million loss from derivatives trading, to accept the company's May 12 revised debt payment offer.
      Bloomberg  -  312 words
    • 535 6  -  Independent directors had rejected buyout proposal earlier, says company By LIZA LIN TROUBLED materials handler Greatronic has hinted that it might reject a proposal by minority shareholders put forward in an court affidavit to help solve its recent woes. In an announcement
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    • 301 6 Unit APL also saw rise in revenue per box Bloomberg NEPTUNE Orient Lines (NOL), which operates Asia's second-largest container line, handled 14 per cent more containers in the four weeks ended May 6, helped by growing demand for Asian products. The company's
      Bloomberg; AFP  -  301 words
    • 218 6 Bloomberg KEPPEL Corp, Singapore's biggest offshore marine engineering company, said its unit won a $780 million contract to build two semi-submers-ible drilling platforms for AP MollerMaersk AS. Unit Keppel FELS Ltd expects to deliver one deep-water semi-sub-mersible drilling platform a year in 2008 and
      Bloomberg  -  218 words
    • 4491 6 UNIT TRUSTS FUNDS CibGlobal Healthcare Fund 0961 Citi G*> Fin Srvcs fund 1.04/ im (c™.\ Citi US Aggressive Growth Fund 082/ spo n70fJ S B Set Gib Bus Ldrs Ptfl 03RGD) 1.117V SBSel Gib Bus ldrs Ptfl 03(USD) 1.1851/ IZ 1 Cibbond S pore Class Y 0976/ "o«v S BSelEqty
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    • 387 7  -  Sales were up by a third to $308.7m, net profit jumps 48% to $20.6m By LISA TAN TAT Hong Holdings' cranes have given it another big lift. Full-year results released by the crane company show that its revenue for the 12 months
      387 words
    • 306 7  -  By LISA TAN HONG Kong-based metallic fastener manufacturer Superior Fastening Technology posted a 61.2 per cent growth in group revenue to HK577.9 million ($16.9 million) in its financial year 2004-05 results yesterday. Excluding internal elimination, 88.1 per cent of this figure, or HK$7l.2
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    • 464 7  -  Requirements tied to cash position not met, but deal not necessarily dead By CHUANG PECK MING THE financial picture of Vantage Corp, unveiled yesterday in its latest results, suggests that it has failed to meet some of the conditions businessman
      FILE PHOTO  -  464 words
    • COMPANY BRIEFS
      • 48 7 THE Singapore Exchange (SGX) has admitted Fortis Clearing Singapore as a corporate clearing member of SGX Derivatives Trading Ltd and SGX Derivatives Clearing Ltd. Fortis began operations yesterday with a Singapore team to provide independent clearing of derivatives trades for customers worldwide.
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      • 91 7 LOWER sales and stiff competition contributed to a bigger loss at Tri-M Technologies for the financial year ended March this year. The printed-circuit board assembler reported a net loss of $5.66 million, up from a loss $226,000 in FY2004. Revenues fell
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      • 69 7 CEREBOS Pacific, famous for its Brands Essence of Chicken product, has appointed management consultant George Crocker, 39, as senior vice-president and CEO for its Australian and New Zealand operations with effect from July 26. Mr Crocker resides in Hong Kong. His working experience
        69 words
    • 354 7  -  New device should add US$114m in US sales in three years By CAROLYN QUEK GIANT Wireless Technology reckons a new wireless brain temperature monitor it launched yesterday will chalk up sales of US$ll4 million over the next three years. Set to hit US
      354 words
  • Page 5 Advertisements
    • 58 5 Kg rt r j O r-* P FMDIHEOMES H hjUiMFin be J Recruit the right people j through The Straits Times Recruit. i I r -i Call 1800 289 8822 or email 1 > 1 T recruit@sph.com.sg to advertise. j rJ Q IS LA P —> \f rVy tX Li
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    • 36 5 LIFE WELL DESIGNED. GRAND HYATT iM iMF JiMr ■r AMMAN ANKARA (2006) BALI BANGKOK BEIJING BEIRUT (2008) BERLIN CAIRO DUBAI FUKUOKA GUANGZHOU (2007) HONG KONG JAKARTA MELBOURNE MUMBAI MUSCAT SAO PAULO SEOUL SHANGHAI SINGAPORE TAIPEI TOKYO
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  • Page 7 Advertisements
    • 51 7 O Up p FIND THE ONES 'X A t y THAT FIT! c o i 1 Recruit the right people through The Straits Times 1 3 v—jr p- 7 Recruit. Call 1800 289 8822 or email 1 recruit@sph.com.sg to advertise. f -klt ™bh r hJ' UfJ U |Q_ r~> D
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    • 18 7 Booster Capital Guaranteed Fund SGDRID 19/05/05 9.62 SGD Double Joy Capital Guaranteed Fund USD RID 23/05/05 10.00 USD
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    • 1248 7 9 CG TECHNOLOGIES HOLDINGS LIMITED I (Incorporated hi Bermuda) Ep NOTICE OF ANNUAL GENERAL MEETING El $1 NOTICE IS HEREBY GIVEN that the Annual General Meeting of Ihe Company win be held at Room 1003, Laval 10 NTUC Centre No. 1, BC Marina Boulevard One Marina Boulevard, Singapore *****9 on
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  • SINGAPORE MARKETS
    • 534 8  -  STOCKS Index held up by few stocks but broader market shows mixed session with 200 falls against 219 rises R SIVANITHY Senior Correspondent A CONTINUED collapse in Accord Customer Care Solutions (ACCS) and renewed vigour in United Fiber and Pearl Energy highlighted the rotational playing
      Source:  -  534 words
    • 738 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on May 30 and earlier) SubuntUI Moot Prim SMAKMOUMMG SkmlMldtr Bay/ Skam Par Mwt After Stodi Train Of Director Sefl 008 SteS fW) f888| Memtech Intl iO-MayOS Chuang Wen Fu Buy 3000 0 30 3960 0.SS 6960 0.97 NH Ceramics 30-May-05 Goh
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    • 199 8  -  Compiled by CHUANG PECK MING HELEN Yeo, an independent director of Yellow Pages (Singapore), has more than doubled her stake in the company. She paid $57,600 for 40,000 shares—at $1.44 per share—of the publisher of telephone directories last Friday in the open market This
      199 words
    • Article, Illustration
      880 8  -  Compiled by R SIVANITHY WHEELOCK PROPERTIES May 30 dose: $2.71 UOB-Kay Hian, May 27 FYOS results for Wheelock Properties came in within our expectations, if we exclude the writeback on Wheelock Place and the one-off gains from the disposal of investments. However, due to the timing of project launches,
      Source: Bloomberg  -  880 words
    • 526 8  -  CURRENCIES LARRY WEE Senior Correspondent THE weekend's responding No by French voters forced the euro towards seven-month lows by the close of Asian trading yesterday, ahead of what is shaping up to be a volatile fortnight for currency traders. A larger than expected 55 per
      Source:  -  526 words

  • SINGAPORE NEWS
    • 511 9  -  Senior correspondent Ching Cheong held since April 22 By DANIEL BUENAS BEIJING authorities have detained a senior Straits Times correspondent for allegedly trying to obtain manuscripts of secret interviews with a purged Communist leader who had opposed the 1989 Tiananmen Square crackdown. The newspaper's chief China
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    • 262 9  -  By CHLOE CHOY UNITED Overseas Bank and Visa International yesterday launched the UOB Visa Platinum Business Card, catering to small and medium-sized enterprises (SMEs) in Singapore. At yesterday's media briefing, UOB which, with a cardbase of 45,000, is one of the largest Visa
      262 words
    • SINGAPORE ROUNDUP
      • 78 9 KNOW any individual, company or organisation that has contributed to the environment? If so, drop your nominations for the Singapore Green Plan 2012 Award online at http.//app. mewr.gov.sg/ sgp2ol2/awardnom/ from May 30 to July 22 this year. SGP 2012 is a 10-year schedule for
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      • 68 9 SP PowerGrid is cutting customers' electricity bills from tomorrow. As part of its five-year price reduction plan and transmission charges review, the company will be reducing electricity transmission charges by one to 5 per cent across five supply categories. "We have achieved these price reductions
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    • 325 9  -  By RAJU CHELLAM SINGAPORE'S online business licensing service yesterday won the 2005 United Nations Public Service Award for best application of infocomm technology in the government sector in the Asia-Pacific region. The award was received by Chan Yeng Kit, chief executive
      325 words
    • 40 9 president can now apply ror a certificate of eligibility a must from the Presidential Election Committee. The certificate is the endorsement by the Presidential Elections Committee, chaired by Andrew is vote vector. This experience and tosep
      40 words
  • Page 9 Advertisements
    • 145 9 I I B A local brand brings sparkle to relationships. I *< I <g®s, *^^3ff'llp 2 nSmSBKmm I K. .'»l*.. 11 rilililiHHlMMii m*Mi# ■KM I I A global bank provides rock solid support I to the local brand. I Growing companies need connections to flourish. And we support Our solutions
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  • SMEspotlight
    • 651 10  -  Mid-market retailers in mature economies are expected to beef up infotech infrastructure, writes RAJU chellam RAJU CHELLAM GROWTH opportunities may not be plentiful, but there's a new boom in view. The global mid-market retail sector is set to spend a whopping US$23 billion on
      AP  -  651 words
    • 1250 11  -  CONNECTING BUSINESS WITH HSBC A company's financial risks are manageable, as NANDE KHIN discovers NANDE KHIN Q: What are the financial risks that can threaten companies? James: There are various financial risks that threaten companies. The specific nature of the risk depends on the capital structure of
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    • 877 11  -  SMALL CAPS Ice-cream maker Youcan aims for greater slice of Chinese market with more appealing packaging and flavours By ANGELA TAN HAAGEN Dazs or Ben Jerry, it is not But in China, ice-cream maker Youcan Foods International plans to send shivers down the spines of its
      FILE PHOTO; CHRIS LOH; Source: Bloomberg  -  877 words
    • 780 12 Fish Co: it's a great way to fry for Ricky Chew OB Singapore's MD tells LIZA LIN he's got big plans for the popular seafood chain SEATED casually in his ninth and latest restaurant at Changi Airport's Terminal 2, OB Singapore's managing director, Ricky Chew, feels right at home. The
      FILE PHOTO  -  780 words
  • Page 10 Advertisements
    • 26 10 ..VI George Quek, Group Managing Director, BreadTalk Pte Ltd Winner of SPBA 2002/03/04, SPBA Distinctive Brand Award 2003/04, SPBA Most Popular Brand Award 2002 LIANHE ZAOBAO
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  • Page 11 Advertisements
    • 104 11 Manage your business risk with our award winning Treasury solutions Best Bank at Risk Management and Treasury in Asia 1998 2004 Euromoney Beet Treasury and Cash Management Bank in Asia 2004 Global Finance Bast Product Range, Currency Derivatives and Interest Rata Derivatives 2004 Asiamoney Beat Bank for Risk Management 2003
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  • Page 12 Advertisements
    • 1482 12 Hy tiifr tottfrt* JWMI jwtftteii|Mliß<|>.tf I HSH NORD'BANK Financial Accounts for the Year 2004 Incorporated in the Federal Republic of Germany Group Statement of Income for the period Group Balance Sheet as at December 31,2004 January 1 to December 31,2004 2004 2MH Assets (in thousands) Liabilities (in thousands) One thousands)
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  • SINGAPORE ARTS FESTIVAL
    • 483 13  -  STEPHANIE BURRIDGE previews Pietragalla's Stravinsky Dances STEPHANIE BURRIDGE CHOREOGRAPHER Marie-Claude Pietragalla's themes are often about strong, yet fragile women. As a female choreographer in France in a field dominated by men, her works push traditional boundaries and expectations of female dancers. Ballerinas traditionally played fairies,
      PASCAL EILLOT  -  483 words
    • 352 13  -  By AL R DIZON THE Singapore Symphony Orchestra's participation in this year's Arts Festival got underway on Friday with an extensive programme of familiar works by Georges Bizet, Sergei Rachmaninov, and Sir Edward Elgar. Alas, a pedestrian, noncommittal performance marred an otherwise world-class orchestra. Bizet's
      352 words
    • 426 13  -  By FRANK DEMEGLIO THE Philadelphia Orchestra, under the masterful direction of Christoph Eschenbach, gave the best orchestral performance yet heard in the Esplanade. On Saturday evening, they opened with Dvorak's Concert Overture. Op. 92. one of the composer's more popular orchestra showpieces. From the opening note,
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  • Page 13 Advertisements
    • 642 13 .♦l. II if FORTIS BANK S.A./N.V. FORTIS (INCORPORATED IN BELGIUM WITH LIMITED LIABILITY) 11 Consolidated Balance Sheet Consolidated Profit and Loss Account As at 31 December 2004 For the year 2004 In EUR million In EUR million 2004 2003 2004 2003 Assets Revenues Cash 4,144.7 6,890.0 Interest income 38,878.8 23,751.0
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    • 32 13 -y? c j —V V The fastest: p| SlumSmiMEro 116 I wmISRhI I I M 4uS tTWfm bubhml i\ I El inW* H I |t K "/Qj-que of the itemm Ob salt
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  • ECONOMY WATCH
    • 469 14 It calls US and EU steps to restrict imports of Chinese clothing and textiles unfair AP [BEIJING] China yesterday scrapped concessions meant to avert a trade war over textiles with the United States and Europe, cancelling a plan to sharply increase export duties in apparent
      AP; REUTERS  -  469 words
    • 2313 14 VOl General Corp 0.40 unch 90 May 30 KM ('000) Genting 18.30 0.10 137 George Kent .0.67 -0.01 55 A4M Realty 1.45 -0.05 2 GHL Systems.. .031 -0.01 312 Abric .0.32 0.01 130 Globetronics Tech 0.38 0.01 59 ACP Industries 0.80 unch 3 Glomac Bhd 1.33
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    • 493 14 Reuters [BEIJING/SHANGHAI] China hit out yesterday at the United States and the European Union for curbing Chinese textile exports, saying the sanctions were justified neither by trade law nor by statistics. Commerce Minister Bo Xilai said Washington and Brussels had failed
      Reuters  -  493 words
    • 260 14 Reuters [KUALA LUMPUR] Malaysia should immediately float its currency, according to the man who was finance minister when the ringgit was pegged to the US dollar, Anwar Ibrahim. Mr Anwar, sacked and later jailed after falling out with the then premier over Malaysia's response to
      Reuters  -  260 words
    • 343 14 AFP [KUALA LUMPUR] Malaysian Prime Minister Abdullah Ahmad Badawi insisted yesterday that the ringgit currency's peg to the US dollar would stay, after former deputy premier Anwar Ibrahim warned of "disastrous consequences" if it was not revalued. "So many people have been
      AFP  -  343 words
  • Page 14 Advertisements
    • 226 14 r/ -1 .1. 1 l)!n,i-( lull ,ir< I 1 I I here to wine, dine and e n lei" I a i n <> World-famous char-grilled specialties including Baby Beef (Tenderloin) and Baby Back Ribs under $20/Wine corkage -$10/CLUB OLA Ladn-Argrminian Grille 6c Butro 28 Murray Street (in front of
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    • 61 14 MERITUS MANDARIN SINGAPORE BUFFET DINING AT ITS BEST Fresh oysters, delectable lobsters, savoury honey-glazed ham, prime HRI rib of beef ana many more mouthwatering dishes to leave you spoilt for choice. Hsf Reservations: 6831 6271/72 WM meSUS MANDARIN A division of Overseas Union Enterprise Limited (Company Registration N0.*****0050E) 333 Orchard
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  • MALAYSIA/INDONESIA
    • 628 15  -  Trading suspension gives respite to shares, hit by recent selldown By PAULINE NG in Kuala Lumpur BELEAGUERED Kumpulan Emas is working on finalising transactions to dispose of major assets of the company. But it remains to be seen whether this will be sufficient to
      628 words
    • 396 15 [SINGAPORE] Indonesian flour millers are spending sleepless nights for two reasons China and India. Hit by surging imports of cheaper wheat flour products from the two Asian giants, Indonesian wheat flour mills are hoping the government will soon take steps to
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    • NOTE BOOK
      • 82 15 AFP [KUALA LUMPUR] Prime Minister Abdullah Ahmad Badawi yesterday backed a plan for Malaysia's one million civil servants to work a five-day week, down from the current five-and-a-half days, saying it will help boost tourism and strengthen families. "In principle, we will introduce
        AFP  -  82 words
      • 108 15 Reuters [KUALA LUMPUR] Malaysian state-controlled plantation group Federal Land and Development Authority (Felda) said it has no plans to sell stakes in shipper MISC and lender Maybank to raise funds for expansion, the Berita Harian reported yesterday. An Asian Wall Street Journal report
        Reuters  -  108 words
      • 96 15 AFP [KUALA LUMPUR] Malaysian power utility Tenaga Nasional Bhd plans to call for bids to construct a 150-megawatt power plant in eastern Sabah state estimated to cost RMI billion (***** million), a report said on Sunday. The Edge financial newspaper said the power
        AFP  -  96 words
      • 63 15 AFP [TOKYO] Eight Japanese energy firms will invest a total of 150 billion yen (552.3 billion) to develop Indonesia's Tangguh field through 2035, a news report said yesterday. The firms will separately develop three sections of the gas field in the remote Papua
        AFP  -  63 words
      • 42 15 Reuters [HONGKONG] Chow Tai Fook Group, controlled by Hong Kong tycoon Cheng Yu Tung, may inject gambling-related assets valued at HK$4 billion (SsBs4 million) into International Entertainment Corp, the Apple Daily said yesterday. —Reuters
        Reuters  -  42 words
    • 254 15  -  By PAULINE NG in Kuala Lumpur IJM Corp, which has emerged as the biggest shareholder of Kumpulan Europlus after buying a 25 per cent stake in the property player, could raise it to 30 per cent within the year. IJM,
      254 words
  • Page 15 Advertisements
    • 1215 15 1800 %G& ftft22 IHliilityfcJlßMiL^MELJ citigrou^T CONSOLIDATED BALANCE SHEET cmGROUP inc. and subsidiaries CONSOLIDATED STATEMENT OF Citigroup inc. ano subsidiaries INCOME QgCMnbir 31, Ytar End#d Doc#wibor 31 In millions of US dollars 2004 2003 In millions of US dollars, except per share 2004 2003 amounts Ai«e»i Cash and due from banks
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  • Page 16 Advertisements
    • 1034 16 ADVERTISING In today's business environment, IT innovations at the workplace SMEs have always encountered challenges to reduce costs and clear definition of users' requirements, before embarking on such have led to businesses generating and accumulating information at perform better in terms of customer service and productivity. In a system. However,
      1,034 words

  • Page 17 Advertisements
    • 1288 17 FEATURE EMPOWERING SMALL STRATEGIC ALLIANCES TO MEDIUM ENTERPRISES POWER LARGE ENTERPRISES Canon imageWARE (iW) software is one manual entry is reduced. Better yet, users multifunctional device (MFD) to your Together with strategic partners, Canon Business Process Management (BPM) provides complete monitoring of the tool that can help offices move into
      1,288 words

  • GREATER CHINA/INDIA
    • 1008 18  -  For a sector that was down and out not too long ago, the export-driven revival has been phenomenal, says ASHOK KUMAR in Mumbai ASHOK KUMAR HAVING been written off as a sunset industry a couple of years ago, the Indian textiles sector has risen, phoenix-like
      REUTERS  -  1,008 words
    • 439 18 London's key target Chinese banks undergoing restructuring [LONDON] The London Stock Exchange is planning to step up its campaign to attract listings from China, saying bringing in mainland companies is the "No 1 priority" in its international business plan, the Financial Times
      439 words
    • 98 18 AP [HONG KONG] An oil painting by Chinese artist Zao Wou-ki fetched a record HK$lB.O4 million (US$3.B million) at an auction in Hong Kong on Sunday. Juin-Octobre 1985. or June-October 1985. shattered the previous record high for a Chinese oil painting —HK57.55 million—for another ofZao's works. 1.4.66.
      AP  -  98 words
    • 390 18 AFP. Reuters [SHANGHAI] China Construction Bank (CCB), the nation's third biggest lender, has removed two senior officials in an apparent bid to clean up its image ahead of its share sale. CCB said it plans an initial public offering in Hong
      AFP.; Reuters  -  390 words
    • 297 18 But those already set up by 2007 to be exempt 5 years AFP. Reuters, AP [BEIJING] Foreign investors who set up shop in China after 2007 will face a steep increase in corporate tax, as the government enforces rules to make everyone pay
      AFP.; Reuters,; AP  -  297 words
    • 180 18 Bloomberg [MUMBAI] State Bank of India (SBI). the nation's biggest lender, plans to seD 50 billion rupees (Ssl.BB billion) of 10-year bonds to individual investors, seeking to convert part of its term deposits into debt, Business Standard reported yesterday, citing a bank executive
      Bloomberg  -  180 words
  • Page 18 Advertisements
    • 621 18 Notices IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF DBSF INVESTMENTS PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) Co. Reg. No.: *****0805K NOTICE IS HEREBY GIVEN pursuant to Section 308( 1) of the Companies Act, Cap. 50, that a Final Meeting of the Members of
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  • WORLD
    • 599 19 Massive deal could break records, but outcome uncertain, both sides stress Bloomberg. Reuters [FRANKFURT/MILAN] In what could turn out to be Europe's biggest cross-bor-der deal to date, Italy's UniCredito is in talks to take over Germany's secondbiggest lender, HVB Group. But both
      Bloomberg.; Reuters; AFP  -  599 words
    • WORLD WATCH
      • 110 19 Reuters [SEOULI Soutii Korea's fourth-largest lender, Hana Bank, said yesterday it had sold 15.5 billion won (5525.6 million) worth of its treasury stock to a foreign investor, cutting its own shareholding to 2.98 per cent. Before the market opened, Hana sold 594,000 shares
        Reuters  -  110 words
      • 90 19 Bloomberg [TOKYO] ÜBS AG said its Tokyo office lost a computer hard disk containing customer data from its banking and brokerage units in Japan. The lost disk contains details on about 9,500 of ÜBS Securities Japan customers between September 1999 and August 2004,
        Bloomberg  -  90 words
      • 101 19 Reuters [NEW YORK] MBNA Corp, the world's largest independent credit card lender, is the subject of mounting takeover talk within the market, with Wachovia Corp considered a possible buyer, reports financial weekly Barron's. The publication's Trader column pointed to the confluence of two events that
        Reuters  -  101 words
      • 110 19 Reuters [LONDON] United Business Media (ÜBM) is preparing to sell its 35 per cent stake in UK broadcaster Channel Five to RTL Group for £200 million (*****.9 million), the Sunday Express reported. The newspaper said advisers for ÜBM and RTL, which owns
        Reuters  -  110 words
      • 82 19 Reuters [SEOUL] South Korea's Hyundai Construction Engineering Co said yesterday it had won a US$696 million power generator order from the United Arab Emirates and raised its order target for 2005 by a quarter to US$2.5 billion. Hyundai said it was likely to win
        Reuters  -  82 words
      • 79 19 Bloomberg [SEOUL] General Electric Co's finance unit is in final talks to invest 400 billion won (*****.5 million) in Hyundai Card Co, becoming the second-largest shareholder in the South Korean card issuer, the Korea Herald reported. GE is seeking to acquire a
        Bloomberg  -  79 words
    • 390 19 But sector hopeful that full-year revenues will rise Reuters [AMSTERDAM] After three years of growth, sales of semiconductors may be set to decline this year because of excess inventory in the supply chain, leading industry watchers say. Growth of the global semiconductor
      Reuters  -  390 words
    • 203 19 Bloomberg [FRANKFURT] Germany's main opposition parties picked Angela Merkel (left) to challenge Chancellor Gerhard Schroeder in the national election planned for September, making her the first woman to bid for the country's top political post. Ms Merkel, 50, who has been the leader of
      Bloomberg  -  203 words
    • 306 19 Reuters [SAN FRANCISCO] Nike has a message for shoppers looking for the hottest shoe design: Just do it—yourself. The world's largest athletic shoemaker has relaunched a website where shoppers design their own shoes, choosing everything from the colour of the famous Nike swoosh, to personalising the
      Reuters  -  306 words
    • 479 19 Reuters [STOCKHOLM] A flood of aggressive hedge fund players into the global foreign exchange trading place makes it harder for central banks to police the giant forex market, industry experts say. Central banks, which are responsible for the stability of the financial system,
      Reuters  -  479 words
    • 251 19 [LONDON] Price movements in the credit default swaps (CDS) market In the past four years indicate that some banks might be using private knowledge of corporate distress to take trading positions in the market, the Financial Times quoted the first comprehensive report of its
      251 words

  • AVIATION
    • 583 20 IATA AGM High fuel prices and soaring costs in North America are crippling growth AFP [TOKYO] The global airline industry said yesterday its losses would mount to US$6 billion this year as high fuel prices and soaring costs in North America outpace growth
      AFP  -  583 words
    • 338 20  -  It's among 3 given award for policies supporting industry By VEN SREENIVASAN [SINGAPORE] The International Air Transport Association (lata) has commended Singapore's Changi Airport, Brisbane Airport Corporation and Air Services Australia for their policies in support of the airline industry. lata yesterday presented the two
      338 words
    • 238 20 Bloomberg [HONG KONG] Air Asia Bhd, South-east Asia's biggest discount airline, said it received approval to fly to six more cities in southern China as it seeks to take advantage of the country's growing demand for air travel. "China is
      Bloomberg  -  238 words
    • LOG BOOK
      • 105 20 AFP [SINGAPORE] Singapore Airlines (SIA) will add an extra daily service to Beijing next month to bring its total number of flights to the Chinese capital each day to three, the flag carrier said yesterday. "This represents a 50 per cent increase in capacity
        AFP  -  105 words
      • 91 20 Bloomberg [WELLINGTON] New Zealand and the UK reached a new agreement on air services which will remove most restrictions on flights between and beyond the two nations. The agreement once ratified, will replace existing arrangements that limited flights between the two countries
        Bloomberg  -  91 words
      • 95 20 Xinhua [JAKARTA] Indonesian airline Star Air will suspend operations beginning tomorrow due to the continued hike in fuel price, the company spokesperson said on Saturday. Star Air, which serves seven domestic routes, can no longer compete with other low-cost carriers as
        Xinhua  -  95 words
    • 1862 20 CITY UfiMT ITA FUfiHT (TO 0mm MI566 1925 MI566 0905 1 1 0» ***** 0630 S2062 0900 TTWii iss sss sga iig LH9770 2300 DMpMirUi S0141 1145 S§142 0935 S0229 2300 SQ143 1535 ***** 1640 KL637 1450 5Q324 2345 M»lu SQ435 0550 5Q436 2030 a9mm SQ347
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  • Page 20 Advertisements
    • 122 20 m '■1 ap» r* f-'^flp* s"' -W -'Mm 1 f? »r' A wm All great companies were once startups. f'»\ likfi ,>. 4 ~v v s i "K".y, HH wm Nominations for the aHMßiii 2005 eso.startup awards 2005 are now open Recognising Singapore's New Enterprises To be eligible, a company
      122 words

  • SHIPPING
    • 802 21 Lawsuit against AP Moeller-Maersk AS is first of its kind since Saddam's fall Bloomberg [DUBAI] Iraq is suing AP Moeller-Maersk AS, the world's biggest containershipping company, for failing to pay fees at the port of Khor Az Zubayr the first such
      Bloomberg  -  802 words
    • 211 21 Bloomberg [SINGAPORE] The price of ships to be scrapped fell in India and Bangladesh last week, matching drops in the price of recycled steel plates. The price offered for oil tankers by scrap buyers in Bangladesh fell to US$3B5 a ton, down US$5
      Bloomberg  -  211 words
    • 378 21 15 to 20 VLCCs could be needed to handle output from Baku-Ceyhan link Bloomberg [SINGAPORE] A pipeline linking Baku, Azerbaijan's capital, with Ceyhan on Turkey's Mediterranean coast may boost demand for so-called very large crude carriers (VLCCs), ships able to carry two million barrels of
      Bloomberg; AP  -  378 words
    • 316 21  -  By GEORGE JOSEPH [SINGAPORE] The maritime community here is being represented for the first time in a big way at one of the world's best-attended shipping exhibition and show in Oslo next week. Not only is the Singapore Maritime Foundation (SMF) involved in
      316 words
    • 328 21 Bloomberg [LONDON] Top Tankers Inc, an Athens-based shipowner, said it cancelled a U*****.2 million purchase of 17 vessels and withdrew a US$3OO million preferred stock offering because of a lade of iavestor interest The order was for 15 so-called dry-bulk carriers, which carry
      Bloomberg  -  328 words
    • 183 21 t*i» n w OKMHI) 0* trtt 127 OutiKjp -..J>74 »l Catco I c*por Ktor —1.77 lU* '03Cfi CWT Detnfcuuov AM -0©1 23 braHUp 1J1 o<a 0 0C 00> m Qnrdtarta ~r tct*. CJS i«h 0 IMHoOngi 1.01 undt NH K1V«nfc*i. OJT? ureti 7J<» hpl CM lt.40 -01# 14M
      183 words
  • Page 21 Advertisements
    • 38 21 JURONG SHIPYARD PTE LTD THE ONE-STOP TOTAL SHIPYARD T| I Jurong Shipyard Pte Ltd 29 Tanjong Kltng Road Singapore *****4 Tel: (65) 6265 1766 Fax: (65) 6261 0738 Website: www.jspl.com.sg Reg No: *****8265G A Sofcactery o) SeroCoro Mamo
      38 words
    • 70 21 We Serve with CARE We aim to serve and satisfy our patrons from the seafaring and shipping communities with our distinctive style of professional, friendly and dedicated medical service. Consonant with our providing a facilitated one-stop medical service centre for the convenience of our patrons. SEACARE MARITIME MEDICAL CENTRE PTE
      70 words
    • 56 21 Trusted Ship Manager of the Industry Leaders A LEADING INTERNATIONAL SHIP MANAGER WITH STATE-OF-THE-ART TRAINING INSTITUTE FOR IN-HOUSE CREW SAMUNDRA INSTITUTE OF MARITIME STUDIES (SIMS) WORLD CLASS POST-SEA MARITIME TRAINING INSTITUTE IN INDIA. EXECUTIVE SHIP MANAGEMENT PTE LTD #07-00, 76 Sbenton way, Singapore *****9 Tel: (65) 6324 0500 Fax: (65)
      56 words
    • 216 21 NOTICE TO TRADE PTWIWI OPERATORS SOC SHIPMENTS REVISION IN BRUNEI EAST MALAYSIA FUEL ADDITIONAL lEFAI EFFECTIVE 15 JUNE 200S Arising from the regular review of bunker price#, feeder operators wish to inform the trade that the current Brunei East Malaysia Fuel AddWonal (EFA) will be revised to the following levels
      216 words

  • EDITORIAL & OPINION
    • 520 22 EDITORIAL IN the absence of a big reform push in the first year, it is not surprising that the verdict on the performance of India's coalition government is probably not far from Prime Minister Manmohan Singh's own modest rating of 6 on a scale
      520 words
    • 836 22  -  By HUGH SCHOFIELD AFP FRANCE was coming to terms yesterday with the immense political and international changes wrought by the electorate's massive rejection of the EU's new Constitution in a referendum the day before. By a majority of nearly 55 per
      AFP; REUTERS  -  836 words
    • 698 22  -  THE BOTTOM LINE G PANICKER UNLIKE the US administration, corporate America is not belittling the science behind the climate change. They are stepping forward to break the current policymaking impasse on global climate in the United States. Corporations perceive the shift in consumer
      698 words
    • 1541 23  -  As world trade has become multilateral, the US will eventually see that bilateral trade barriers are simply not effective By ANDY XIE THE market and media are spinning a new story on China's currency: The US is. ordering China to revalue by more than 10 per
      AFP  -  1,541 words
    • 422 23  -  LETTERS TO THE EDITOR Denis Distant I REFER to the report "New ERP scheme to extend tolls on CTE, Orchard Rd" (BT, May 28), and suggest the LTA close off the two lanes at the Cairnhill entry point to the northbound CTE during
      422 words
    • 221 23  -  Terence Ho Deputy Director (Rental Housing) Housing and Development Board I REFER to Leong Sze Hian's letter "Hello? Anybody listening?" (BT, May 25). Mr Leong said the Housing and Development Board did not reply to his question in a previous letter about the
      221 words

  • Page 23 Advertisements
    • 1195 23 f Bankof America I COHMMPATSfi, BALANCE SHUT CON9QUOATED STATEMENT OF tNCCHfr.^ ThouMn*) Cashand cash equivalents »,«6,000 27,064,000 Interes?andtees on loans and Tmedepoeits placed and (Maw 2WIWOO 21,668,000 dherahort-termlnvtatmer* li*l,olo 8,061,000 mtaraatantfdMdandion Federal fundi add and aacurtW IJKjm 3,068.000 aacurtbaa purctiaaad undar Federd fundi add and aecuritiea agreements to reedl HMM
      1,195 words
  • Page 23 Miscellaneous
    • 388 23 CRYPTIC CROSSWORD 1 Unsuited to all but fellow-pa-9 Five wearincj a flower-garland in 10 Hannah, for instance, has a friend at the airport (10) 1 1 That's how it goes when he's This amalgam, for ing iron (7) 12 I 113 I I I j 15 Smaller, but more attractive
      388 words

  • 9854 24 SGX MAINBOARD 52-WV Tel Last Vol Day Latt Quota GrtXv Mv GrYtd Nat MCap High Low Coda Company Sala ('000) High Low luyar SaMar Cvr PIt SmM 12.5 3 5716 1st Software 5c 3 -0.5 25 3 3 3 3.5 12.1 34.5 14.5 3148 8TelecomUS2c 15 +0.5 2078
    9,854 words

  • 6292 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In S$ In US$ dy Syr %dy Syr %dy %yr May 27 Index Change Change Change Change Change Change Work) Index Preliminary 860.8 0.1 1.0 0.0 -0.3 0.1 -1.9 »EAFE Preliminary 795.9 02 3j0 02 -1j> 03 -32 Europe Preliminary
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  • Page 26 Advertisements
    • 1650 26 IMPORT I NORTH AMERICA AUSTRALIA/NEW ZEALAND 1 SUPER SHUTTLE EXPRESS (SSX) CSHI I I --p———g AU9IVWUA HOM BArncoo mm voy m sm m 111 I I I I I OOdMMGtO 09W19 11/05 OS/06 07/04 5® OOCL HAMBURG 11W20 25/05 12/06 14/04 4HMKHI 19N 21/05 23/05 25/05 27/05 *1/05 05/04 07/04
      1,650 words
    • 587 26 IWWKAmtOtOmviq ygsa/vor mown i houw m km mo ah jp STUITSVWTUKIO/05 15 11/B5 SnUUTS IMKII/05 15 12 21/05 24/05 29/05 01/0* 03/04 sums yanig 12/05 15 12 os/ot 01/04 I t /yiffnt/myi WlYlfE J vßsa/vor [■Mtnmimcwpoi to an ijw st» m m «11 1 1a COUWW LEADS 30 4J 07-01/05
      587 words

  • Page 27 Advertisements
    • 770 27 MOlCotnfaonsi" a ran 9* of shipping modes lo ensure timely, ratable services covering major ports in J) rtorm AinwncO/ curopd/ asm/ a vecsqiiwu Mm ecnpt hltMi Ci|Ni Ik lUSAN KWANGYANG SHANGHAI YANTUN XMMBI QM6OM) WAMMN JAKAIIA SMtAIAYA K AfltttWHE lAN6KOK U>HI <NAMH6 BOOmiil fttff WPAN6 WMIH MIT BEUW6 For Schedules,
      770 words
    • 929 27 mom»G QIOII 31/ SI l/tl-3ZL. rgmwiPGt I mia ifc yt GOtDEHSAFE 508N I 7/t I 1/6 10/6 "MPttAMK m _M_ iZf— GOtPOITIADt I U/t I isTT 17/4 [WIHmOSt 082 A It/4 18/6 *Uh|Hß-M»-Swon -Ai M actr North i W«g py vgsa voy kg sin hkg sha tao hsk Banrm sw
      929 words
    • 514 27 m &(32 WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS vesa I vor I sw |mAN6|cotoaM|N.SMVA IaMMO MfIfKWBT JUmflL iUBL _HHi ILH__2LUI gJHL_ g®=ffi2S:iS:=^JtJ£= MSO ACOPTMB KllO QOQBI IUNOOBN CM OOlflMO) MB MNDU iMA (VH N 9CVA) fIOmCIM KM VBS ID MWI fUSKMI HIBM* MM—I
      514 words

  • Page 28 Advertisements
    • 715 28 U|W WALLENIUS WILHELMSEN website: http://www.2wglobal.com VISSII "vor RAMP IK ~MAO~ HOW ~MIA SAV »AL ORE NYC »W MOB TAMERLANE AFSIS 3201 mm 6.4 M I 11/06 02/07 11/07 15/07 11/07 14/07 TAMO Af Sl* 4201 MS 6.4 M I 17/0* 20/07 24/07 21/07 24/07 30/07 TARONGA AESIO 3201bw 6.25 i
      715 words
    • 676 28 Vtssa VOY SW PCM VBSE voy $M JKT MCIAMPA 1473 M 20/05 5075T~ jig gff ~*V? 5 PACIAMA 1474 M 21/05 55/55 MCMNIUI MOOI4/05 170$ iSSUr rim v!m MMU 4W m tl/tt mum M7SH urn 23/05 TTfITCWnrTTTTXM^^^B pac iawoa mm 24ZJ5 ?4/Q? II''"Ui' 1 1 111 ft," 1 -5L2291 8114?
      676 words
    • 482 28 i BSA A, MYANMA HH FIVE STAR UNE (Mvotme Mrtiwwl Um) MhfforYafM VfSSH VOY SM m PBI KU PAGAN 344W SID HPA-AM 337W SU M EAUTHA: •OUSTIAD SMPfHW A6OKKS KM/PKL 03-300 SUM POI: 04-MUSI 5 MfSßsmm ACCEPTtM COiVEHOiAI CBO vissa vor me sm mm khc IACAIAMM ACE 100 SID SU
      482 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 6801 29 ETA ETA Advertiwr Vessel Voyage Telephone ETA ETA AdvertlMr Vessel Voyage Telephone SIN Desfn Name Name Number Number SIN Desfa Name Name Number Number t To DARWIN (DRW) 2104 Australia To ABIDJAN (ABJ) 2003 Cote D Ivoire 27/06 08/07 ngpl nt express 028 *****288
      6,801 words

  • PROPERTY
    • 380 30 Real estate loans fourth largest category of non-performing loans at state-owned banks AP [SHANGHAI] Soaring lending for real estate deals poses a serious risk for China's already debt-swamped banks, the country's banking watchdog says. The warning comes amid a series of government measures to
      AP  -  380 words
    • 257 30 MILLENNIUM Copthorne Hotels has named Singapore-born Tsang Jat Meng, 72, as chairman of New Zea-land-listed CDL Hotels New Zealand and CDL Investments New Zealand. Mr Tsang, who was deputy chairman of the Singapore Stock Exchange from 1983 to 1988, was managing director of the
      257 words
    • 524 31  -  Sports Council's new tenancy offer eases club's financial burden By LISA TAN CHANGI Sailing Club (CSC) has finally managed to right its boat after five years of struggling with the lease, a failed merger with Changi Beach Club, and a search for another
      524 words
    • 417 31 SLOWLY but surely, the Indonesian property market is emerging from the downturn that followed the 1997 financial crisis and the mothballing of construction projects. Jakarta property launches are making a comeback. Last weekend saw the sales launch of Oakwood Premier Cozmo Jakarta, with some
      417 words
    • 337 31  -  By ALEXANDRA HO WITH the limited number of large landed properties and new luxury apartments available for lease, rents of private residential properties have increased across the board, according to property consultancy Savills Singapore. Only 410 new apartments in the prime areas of
      Source: URA,S  -  337 words
  • Page 30 Advertisements
    • 653 30 To advertise call toll-free 1800 289 8822 Bill: noticcsgsph.com.sg MTQ MTQ Corporation Limitod (Co Reg. No.: *****0057Z) (Incorporated in Singapore) FY 2005 Financial Highlights (Unaudited Group Results) 4QFY2005 4QFY2004 Change FY2005 FY2004 Change SS'OOO SS'OOO SS'OOO SS'OOO Revenue 13,460 14,601 (8) 56,469 52,738 7 Operating (loss)/ profit before exceptional items
      653 words
    • 435 30 IN THE NUTTER OF THE COMPANIES ACT. CAP. 50 AND IN THE MATTER OF SOFT DEPOT INTERNATIONAL PTE LTD (Company Registration No: *****1432R) (la Mambara' Voluntary Liquidation) At an Extraordinary General Meeting of the members of the abovenamed Company duly convened and held at Bangkok Business Building. Unit No. 1006.
      435 words

  • Page 31 Advertisements
    • 156 31 IBlpyii MMPVSPVKB Evian Condo at Holland Road Land 37,086 sq ft, PR 2.1,24 storeys EwartPwk 99-yr Leasehold BtScdip a AB»worih pvk Unobstructed views P»nd«i <P Astrid q houmc. Near good schools, *.£3. e.g. Henry Park Ph *i»/ *4 "SSf I Ctemg™ 22 June '05 (Wed), 3pm karamjit@credo.com. sg pamela@credo.com.sg 16
      156 words
    • 292 31 FREEHOLD V ■esp) SxS Redevelopment Site Opposite Novena MRT Site Area 1,439.1 sq m approx Approved Use OPP obtained for I£7 12-storey building at jk fv Plot Ratio 3.0 I aaSB n) fc Sale By Voder II ~T*» UNOOUM Bmmsll <2SS3GSK v I lilt Y f*fff!fyjyyy^nyyi*M^yj»i'M #d M Prime Residential
      292 words
    • 158 31 LAND FOR SALE CHANCERY VICINITY Freehold; exclusive Chancery enclave Site Area 1,695.3 sq.m. (about 18,248 sq. ft.) Suitable for landed housing eg. Bungalows, semi-detached houses or cluster housing. Elevated site with views of Orchard skyline ORCHARD VICINITY Freehold; within minutes walk to Somerset MRT station Site Area 1,245.3 sq.m. (about
      158 words

  • Page 32 Advertisements
    • 531 32 <^i£%<ipj^BA^^Hßi^|K-, i| I-i -§.J 'fit l/W BP I < -.<• M A' n t '0M& 4WIL j f 'SfeJSi£& t ■fl '»,^Ss^r-'-- j» ,^ll2is^^l '>* JIB^GII 111 nliMiii' ,^^-"*^J '*^"I™*^^*-^^™1 •v^S- v vl Packed witfl privileges set apart for the discerning businessman, the UOB Platinum Business K-: 1 IS what
      531 words