The Business Times, 16 June 2005
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2005-06-16
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The Business Times
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Title Section14 2005-06-16 1 THE BUSINESS TIMES SINGAPORE 85 cents at http://business-times.asial.com.sg MICA (P) 089/03/2005 Thursday, June 16,200514 words
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639 2005-06-16 1 CHUANG PECK MING - Trading in US stocks slid 35% in Q1 By CHUANG PECK MING [SINGAPORE] Singapore investors turned wary on Wall Street in the first three months of this year, cutting back their dealings in US financial assets, United States Treasury data shows. Spooked by639 words
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Article137 2005-06-16 1 STI 2.201.91 (-0.28) ST INDEX FUTURES 2,202.00 (unch) SIMSO 261.95 (+1.93) SIMSO FUTURES 262.30 (+2.10) MARKETS Wednesday Change KLSE COMP 900.30 +7.66 NIKKEI 225 11,415.88 +79.% HANG SENG 13,914.30 +9.49 SET INDEX 687.47 +3.79 JAKARTA COMP 1,119.579 +13.689 MANILA COMP 1,992.44 +36,65 SEOUICOMP 1,001.94 +18.19 SHENZHEN B 225.86137 words
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Article, Illustration602 2005-06-16 1 MICHELLE QUAH - By MICHELLE QUAH [SINGAPORE] Two of China Aviation Oil's mainland Chinese directors charged last week in connection with the company's oil trading fiasco were granted permission yesterday to leave the country, despite having that same request turned down last week. The differenceFILE PHOTOS - 602 words
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Page 1 Advertisements
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Advertisement5 2005-06-16 1 «S*porereadytobe digital distribution hllb PGM5 words
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Advertisement47 2005-06-16 1 BOTCHED LISTING EXERCISE DBS takes staff to task PG3 Construction sector sees job growth in Q1 PG2 8 BT ONLINE For the latest financial news, currency movements and a 7-day archive, visit business-times.asial.com.sg This service is available to subscribers from 4am Singapore time (2000 GMT) each day.47 words
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Advertisement21 2005-06-16 1 PROPERTY BIG IS BEAUTIFUL i Why homebuyers are going for bigger apartments and condos PG29 I jflßb V 2y •»~i^|ll vill21 words
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Advertisement9 2005-06-16 1 MID CAPS Goodpack packs i a good punch PG79 words
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TOP STORIES
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694 2005-06-16 2 CHUANG PECK MING - It gains 1,500 jobs, while the overall number of jobs created hit 16,900 By CHUANG PECK MING [SINGAPORE] Employment has at last turned around in the beleaguered construction sector. It saw 1,500 new jobs in the first three months of the year, its694 words
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Article812 2005-06-16 2 SGX reprimands DBS over Longcheer IPO THE Singapore Stock Exchange has reprimanded DBS Bank, blamed for the recent botched listing exercise by Longcheer Holdings, for "failing to meet the standards required of an issue manager". In a statement yesterday, the SGX said DBS Bank had acknowledged its error,812 words
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795 2005-06-16 2 MICHELLE QUAH - By MICHELLE QUAH [SINGAPORE] Shareholders of Accord Customer Care Solutions (ACCS) which is looking at a possible profit restatement of $54 million for FY2OO4 —will have to wait a while more to get a true picture of the company's financials. Yesterday was the795 words
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Article, Illustration836 2005-06-16 2 VEN SREENIVASAN - By VEN SREENIVASAN [SINGAPORE] The confusion over whether Australia will open up its lucrative US trans-Pacific air route continued yesterday, with Australian reports saying Singapore Airlines has been shut out and the Singapore authorities saying they've had no official word. "It has been decided theAFP FILE PHOTO - 836 words
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397 2005-06-16 2 [HONG KONGI The Hong Kong financial watchdog is investigating possible insider dealing prior to Hong Kong telecom PCCW's Monday announcement that it was to acquire Sunday Communications, the Financial Times reported, citing people close to the regulator. The Securities and Futures Commission is also397 words
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COMPANY NEWS
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470 2005-06-16 3 LIZA LIN - Bank to take disciplinary action against staff involved By LIZA LIN IT'S going to be a long week for the staff at DBS Bank's equity capital markets department. The bank, blamed for the recent botched listing exercise by Longcheer Holdings, will be470 words
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610 2005-06-16 3 RONNIE LIM - HOCK LOCK SIEW By RONNIE LIM THE prowling Singapore Petroleum lion with an enlarged chain of 39 stations has clearly stirred up the retail petrol jungle. The market talk is that SPC has done well with the 28 BP stations it recently bought. "They are610 words
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617 2005-06-16 3 LETTER TO THE EDITOR CHINA Aviation Oil (Singapore) Corp would like to clarify and place in its proper context the June 15 article in The Business Times regarding the jet fuel monopoly for the importation of aviation fuel to China.617 words
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Article, Illustration464 2005-06-16 4 VEN SREENIVASAN - This while airline continues to boost capacity on key Asia Pacific routes By VEN SREENIVASAN SINGAPORE Airlines' passenger and cargo load factors fell to their lowest levels in years last month as the airline continued to boost capacity on key routes in theCompiled by BT - 464 words
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386 2005-06-16 4 LISA TAN - By LISA TAN MORE than 80 per cent of units that Fortune Real Estate Investment Trust is creating in its HK$2 billion (Ss43l million) fund-rais-ing exercise have been earmarked for private placement to institutional and other investors. The trust, in which Hong Kong386 words
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429 2005-06-16 4 TEH HOOI LING - By TEH HOOI LING A LAME duck US president, fracturing international relations and high oil prices are some of the risks faced by the financial markets today, according to Robert Wescott. economic adviser to former president Bill Clinton. "A less confident or429 words
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273 2005-06-16 4 WONG WEI KONG - By WONG WEI KONG FROM next month, the Singapore Exchange will have to obtain clearance from the Monetary Authority of Singapore before it can make any revision to its securities clearing fees. This follows changes coming into effect on July273 words
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Article, Illustration550 2005-06-16 5 S JAYASANKARAN - With Chuan Hup's 155 ships, Habib could make inroads into oil and gas By S JAYASANKARAN in Kuala Lumpur SHARES of Habib Corporation have, since Tuesday, risen more than 8 per cent to RM3.68 on speculation that the Securities Commission (SC) isFILE PHOTO - 550 words
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182 2005-06-16 5 Reuters SINGAPORE Telecommunications (Sing Tel), South-east Asia's largest phone company, still wants to buy a stake in state-owned Pakistan Telecommunication (PTCL), a Sing Tel executive said yesterday. The Pakistan company was hit by strikes against a government plan to sell a stake andReuters - 182 words
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255 2005-06-16 5 JOSEPHINE TAY - By JOSEPHINE TAY ROYAL Philips Electronics and mainboard-listed TPV Technology yesterday closed an agreement for the sale and transfer of certain Philips monitor and entrylevel flat-screen television businesses to TPV. The agreement follows a letter of intent signed last December between TPV and255 words
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Article, Illustration168 2005-06-16 5 KOH Boon Hwee, chairman of Singapore Airlines, has joined the boards of DBS Group Holdings and DBS Bank. With the appointment, the DBS Group board now has 12 members, including five non-Singaporeans of whom two are executive directors, the bank said yesterday. Mr Koh,168 words
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COMPANY BRIEFS
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66 2005-06-16 5 HOTEL Grand Central said its subsidiary Grand Central (NZ) has reached settlement with a tenant. Hospitality Leases Ltd (HLL). on contribution towards operating expenses of the Grand Plimmer Tower owed by HLL for the period April 1. 1993, to Dec 31.2004. As part of66 words
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33 2005-06-16 5 SOFA manufacturer Man Wah Holdings' mainboard IPO is about 1.4 times subscribed. It received applications for some 109 million shares, which were offered at 23 cents each.33 words
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Advertisement1158 2005-06-16 4 We Know What You Did UisttSummer* In that GST Return... In tax management, surprises are always bad, which HHHHHK How likely are errors? So what can be dono? is why people want to avoid them. However, sur- GST is oflen seen as a by-product of the accounts pay- While there1,158 words
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SINGAPORE MARKETS
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Article, Illustration522 2005-06-16 6 R SIVANITHY - STOCKS Contrary to belief, May turned out to be a firm trading month and June has so far been quieter R SIVANITHY Senior Correspondent Sell in May and go away? Not quite. Notwithstanding what the old market adage advises, May was a fairly active andSource: Bloomberg - 522 words
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TRADES TO WATCH
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414 2005-06-16 6 SEE Hoy Chan Equities has raised its stake in Zhonghui Holdings to 10.57 per cent from 9.54 per cent. See Hoy Chan acquired three million Zhonghui shares at an undisclosed price in a married deal yesterday. Zhonghui, which provides solid waste management solutions414 words
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99 2005-06-16 6 EDDIE TOH - Compiled by EDDIE TOH UNITED Overseas Land has continued to tighten its grip on its hotel arm, Hotel Plaza, through the latest open market purchase of 270,000 shares. The price was not disclosed. The latest acquisition raised UOL's direct interest in Hotel99 words
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Article, Illustration438 2005-06-16 6 OTHER SINGAPORE INDICES Jun 15 VALUE CLOSE BT OB/OS 525.00 +79.00 BTCAPI -*****.00 +56.00 BT 10-day MA -*****.00 +53.00 All-SG Equities 561.67 -2.08 SG Equities Elect 139.77 +0.10 SG Equities Fin 1582.48 -49.84 SG Equities Prop 547.38 +0.81 SIMSCI 261.95 +1.93 SiMSCI Futures 262.30 +2.10 MOST ACTIVE STOCKS VOLUME UniFiber438 words
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Article976 2005-06-16 6 JOYCE KOH - Compiled by JOYCE KOH Singapore Airlines June 15 dose $1159 MACQUAME RESEARCH, Jhm PRESS reports over the weekend indicate that the Australian government is to postpone a decision on whether to grant SLA access to the lucrative Australia-US route. This appears to be yet another delaying tactic and976 words
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Article, Illustration522 2005-06-16 6 LARRY WEE - CURRENCIES LARRY WEE Senior Correspondent DESPITE the release of weaker-than-expected US retail sales and producer price numbers overnight, the US dollar was able to squeeze out marginally stronger nine-month highs versus recently unpopular counterparts like the euro and Swiss franc. The American currency establishedSource: Reuters - 522 words
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MID CAPS
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Article, Illustration1020 2005-06-16 7 CHLOE CHOY - With surging share price and high entry barriers the logistics company is poised to conquer new markets, reports CHLOE CHOY CHLOE CHOY IF its share price is anything to go by, Goodpack which specialises in the rental of intermediate bulk containers (IBCs) for transportationSource: Bloomberg - 1,020 words
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Article42 2005-06-16 7 UNIT TRUSTS FUNDS LEGEND: All prices are indicative; Broadly Diversified; Narowly Focused; S Lower Risk; Low to Medium Risk: Medium to High Risk; Higher Risk; open-ended; Before subdivision of units; After subdivision of units; SP after stock split; N.A. Non Dealing Day42 words
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Advertisement18 2005-06-16 7 AUianz (fii) PIMCO Emerging Markets Bond Fund rated 5-star by Mercer Investment Consulting Global investors company no *****7169Z18 words
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SINGAPORE NEWS
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295 2005-06-16 8 NANDE KHIN - By NANDE KHIN MEDICINES and health-re-lated product makers and distributors may soon find it easier to navigate through all the provisions of the law regulating such products, but currently covered by different Acts. The Health Sciences Authority (HSA) said yesterday that it is planning295 words
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Article, Illustration587 2005-06-16 8 ALEXANDRA HO - The price range of $382-451 psf beat that of plots sold by private treaty By ALEXANDRA HO BUYERS spent more than $3 million per building plot at the first Sentosa Cove land auction yesterday. The company had advertised the sale of587 words
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Article410 2005-06-16 8 RONNIE LIM - It will take over entire project after Sime Darby quits By RONNIE LIM INTERGEN, a venture between Shell and Bechtel Group, is to go it alone with a planned US$9OO million power station here, after the withdrawal by its partner Sime Darby from the 715410 words
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Article, Illustration296 2005-06-16 8 ARIANESPACE, the agency which has launched about 60 per cent of the hardware in orbit around the Earth, expects Asia to provide 20 per cent of its business in future, coordinated from Singapore. In an interview yesterday, Richard Bowles, representative director at Arianespace's Singapore Asean296 words
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218 2005-06-16 8 IF making travel bookings online makes you go berserk, help is at hand. A new search engine promises to make it easier for travellers to source for and book flights and accommodation on the Internet. Bezurk.com, started by veterans from the travel218 words
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504 2005-06-16 8 Bloomberg SINGAPORE'S retail sales rose a better-than-expected 13 per cent in April from a year earlier as consumers bought more cars, furniture and household goods. The increase in the Statistics Department's retail sales index compared with a median forecast of 12.3 perBloomberg - 504 words
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Advertisement1238 2005-06-16 8 I Can toil-free 1800 289 8822 In the matter of the Companies Act, Cap 50 And In the Matter of MICRO-NET TECHNOLOGY PTE LTD (Company Registration No: *****I42IN) NOTICE OF MEETING OF CREDITORS NOTICE IS HEREBY GIVEN pursuant to Section 296 of the Companies Act (Cap 50). that a meeting1,238 words
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SINGAPORE FOCUS: SERVICES
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Article, Illustration1017 2005-06-16 9 MICHELLE QUAH - ACCOUNTING INDUSTRY The Big Four accounting firms now offer more than just tax and audit services as they move into advisory work, says MICHELLE QUAH MICHELLE QUAH THE accounting industry has been making news in recent months with top-notch financial advisory and restructuring work,FILE PHOTOS - 1,017 words
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ECONOMY WATCH
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554 2005-06-16 10 ANTHONY ROWLEY - Officials fear increased liquidity via a lower funds target may cause inflation By ANTHONY ROWLEY in Tokyo RUMBLING dissent within the Policy Board of the Bank of Japan (BOJ) over when to begin formally winding down its quantitative monetary easing policy emerged more openly554 words
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414 2005-06-16 10 NYT [PAßlS] With two days to go before the leaders of the European Union convene in Brussels to tackle the crisis over the defeat of a constitution, Prime Minister Tony Blair of Britain said that he and President Jacques Chirac ofNYT - 414 words
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417 2005-06-16 10 Reuters [SEOUL] South Korea said yesterday it would ease regulations on investing overseas and lend out some of its massive foreign exchange reserves to encourage funds to flow abroad in an effort to curb the strength of the won. ButReuters - 417 words
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205 2005-06-16 10 Reuters [BEIJING] China will soon announce a new system controlling the amount of clothing individual Chinese companies can sell to European markets, the Asian Wall Street Journal said yesterday. The quota-allocation system, linked to a recent Sino-European agreement that limits the growth of certain ChineseReuters - 205 words
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Article, Illustration418 2005-06-16 10 Xinhua Reuters [BRUSSELS] The European Union (EU)'s Textiles High Level Group, consisting of Europe's textile entrepreneurs and representatives of EU member states and the European Commission, on Tuesday welcomed a Sino-EU memorandum on the textile trade. During a meeting of the groupXinhua; Reuters; AFP - 418 words
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354 2005-06-16 10 Bloomberg [BANGKOK] Thailand's economy may expand less than 5 per cent this year as higher costs for oil and other imports slow growth, the International Monetary Fund told the country's central bank. Thailand will probably also post a current account deficit thisBloomberg - 354 words
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867 2005-06-16 10 Dealers say the market has lost its vigour with the historic change creating a ceiling for the HK dollar and lowering its long-standing floor Reuters FOR the first time in nearly 22 years, dealers in Hong Kong know where theReuters - 867 words
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MALAYSIA/INDONESIA
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Article, Illustration413 2005-06-16 11 Move to thwart share manipulation seen attracting foreign funds Reuters [KUALA LUMPURJ Malaysia's stock exchange plans a major overhaul of its benchmark index for the first time in a decade to foil share manipulators, an exchange official said yesterday, in a move thought likely to lureReuters; Source: Bloomberg - 413 words
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NOTE BOOK
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79 2005-06-16 11 [JAKARTA] To fulfill its privatisation target of 3.5 trillion rupiah (Ss6ll million) focusing on state banks and mining companies, the government should sell them through initial public offerings (IPOs), The Jakarta Post quoted a minister as saying. Minister of Finance Jusuf Anwar said on the79 words
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51 2005-06-16 11 Reuters [NEW DELHI] Indian Finance Minister P Chidambaram yesterday ruled out privatisation of state-run banks, which dominate banking in the country. "There need not be any fear that the government will privatise public-sector banks," he said at a service launch by Bank of Baroda.Reuters - 51 words
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Article103 2005-06-16 11 Bloomberg [MUMBAI] YES Bank, an Indian lender 20 per cent owned by the third-biggest Dutch bank, drew orders for more than five times the stock it offered in an initial share sale that began yesterday to raise as much as 3.15 billion rupees (Ssl2lBloomberg - 103 words
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Article63 2005-06-16 11 Bloomberg —0 [BEIJING] Qingdao Haier Co, China's biggest household appliance maker, is closely monitoring the sale of Maytag Corp which has received a US$ 1.13 billion offer from investors led by Ripplewood Holdings LLC. Haier may join private equity groups including Bain Capital, Blackstone andBloomberg - 63 words
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514 2005-06-16 11 PAULINE NG - First Reit-to-be may do so despite absence of guidelines in Malaysia By PAULINE NG in Kuala Lumpur AXIS Group, which is very close to listing Malaysia's first real estate investment trust (Reit), could take the initiative to spell out its dividend distribution policy514 words
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Advertisement19 2005-06-16 11 Releasing a financial statement? Call 1800 289 8822 or email notlcesOsph.com.sg to book your advertisement in our newspapers now.19 words
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Advertisement183 2005-06-16 11 v i I <'r' -»>£w r "m<j Nl ••> O i~ THE ALL NEW FORTUNER. IT'S MORE THAN YOU EVER IMAGINED. THE WORLD IS MINE FORTUNE/^ WIkmi I oyolu < jhi I) 111 <I >i<-u I> 1111 on* 111 <l<".i'|ii with u ***** < < 11' 111»«■ I« 11 nolo<)183 words
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GREATER CHINA/INDIA
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Article, Illustration563 2005-06-16 12 CHINA STOCKS Move may help boost investor confidence that is at an eight-year low NYT [SHANGHAI] The Chinese government is considering creating a US$l5 billion fund to help bail out the nation's ailing stock market, according to a senior government official and people told ofNYT - 563 words
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538 2005-06-16 12 Reuters [HONG KONG] Shares in top mainland coal miner China Shenhua Energy Co Ltd fell 3 per cent yesterday, marking a weak debut for this year's biggest IPO as investors take a cautious stance on China and the resource boom. The state-run firm pricedReuters - 538 words
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213 2005-06-16 12 Reuters [SHANGHAI] China may allow firms planning to reduce their untraded state holdings to issue warrants, state media said yesterday, in a bid to further sweeten an unpopular scheme to sell government-held stock. The country's two stock exchanges are canvassing public opinion onReuters - 213 words
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330 2005-06-16 12 Reuters [NEW YORK] Private equity firms rushing into China risk being trapped between soaring deal prices and a slumping local stock market, China fund managers warned. Usually, private equity firms might be expected to find bargain investments when stock prices are weak,Reuters - 330 words
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Article, Illustration419 2005-06-16 12 Reuters [HONG KONG] Popular civil service veteran Donald Tsang has won enough support from a China-appoint-ed committee to become Hong Kong's next leader with the daunting task of balancing the demands of Beijing with calls for democracy. The post of chiefReuters - 419 words
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742 2005-06-16 12 Indian market growing below its long-term potential growth rate [LONDONI Over-regulation and "extreme short-ter-mism" are preventing the Indian beer industry from fulfilling its potential to expand to 30-40 times its current size, the Financial Times reported Graham Mackay, chief executive of SAB Miller, the742 words
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ASIA-PACIFIC/WORLD
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Article, Illustration704 2005-06-16 13 ANTHONY ROWLEY - ASIA INSIGHT The ADB has to tread carefully to weld diverse Asian nations into an economic entity ANTHONY ROWLEY Tokyo Correspondent THE Asian Development Bank (ADB) has entered a minefield by promoting regional economic integration in Asia. It would be wrong to say that it "strayed"704 words
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300 2005-06-16 13 Bloomberg [DUBAI] Dubai's Crown Prince, Sheikh Mohammed bin Rashid al-Maktoum, abandoned a plan to purchase the Intercontinental Paris hotel, becoming at least the second investor to withdraw in four months. Talks between the 56-year-old United Arab Emirates sheikh and Intercontinental Hotels GroupBloomberg - 300 words
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293 2005-06-16 13 Bloomberg [LONDON] BT Group Pic, Britain's biggest telephone company, introduced a cellular phone that switches between fixed and mobile networks to cut the price of a call, more than a year after it was due to be on sale. The Fusion phoneBloomberg - 293 words
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Article, Illustration383 2005-06-16 13 AP [MANILA] Philippine President Gloria Macapagal Arroyo refuses to respond to opposition allegations that she rigged last year's election, her spokesman said yesterday, as the political intrigue sparked by mysterious wiretaps deepened. Ms Arroyo has dismissed the election intrigue as part ofAP; REUTERS - 383 words
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207 2005-06-16 13 AP [MELBOURNE] The former head of currency trading at Australia's largest bank was sentenced to 29 months in jail yesterday for his part in a rogue trading scandal that cost National Australia Bank (NAB) As36o million (*****.9 million). Luke Edward Duffy, 35, pleaded guilty inAP - 207 words
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418 2005-06-16 13 Credit ratings of many are upped to investment grade [NEW YORK] Emerging market countries are about to become net creditors in the global financial system for the first time since the asset class was created, reports the Financial Times. quoting data from Fitch Ratings. The418 words
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WORLD
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Article, Illustration633 2005-06-16 14 Move seen as averting higher compensation as in Worldcom case Bloomberg [WASHINGTONI JPMorgan Chase Co, the third-larg-est US bank, will pay US$2.2 billion to resolve a class-action lawsuit by Enron Corp investors, US$2OO million more than Citigroup Inc, to head off a legal battle. ChiefBloomberg; AFP - 633 words
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515 2005-06-16 14 Flotation will value firm at between £4.4b and £5.1b Reuters [LONDON] Party Gaming, the world's biggest online poker company, said yesterday its backers will raise up to £1.14 billion (553.5 billion) in a London share listing, less than expected but underscoring theReuters - 515 words
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Article, Illustration390 2005-06-16 14 Reuters [LONDON] The European Union (EU) risks losing US investment if anti-business sentiment goes unchecked, US Treasury Secretary John Snow said ih an interview published yesterday. "American business people are going to put capital where they feel they are welcome, whereReuters - 390 words
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550 2005-06-16 14 Reuters [WASHINGTON! A US$55 million fund earmarked in 2003 to improve the stock market knowledge of Americans is sitting idle in a bank while investor education groups squabble over it. An effort by the US Securities and Exchange Commission to setReuters - 550 words
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528 2005-06-16 14 LATEST US DATA The first drop in 10 months followed a fall in energy prices Reuters [WASHINGTON] A plunge in energy costs pulled US consumer prices down 0.1 per cent in May, the first drop in 10 months, according to a government reportReuters - 528 words
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WORLD WATCH
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161 2005-06-16 14 Reuters j 9 [VIENNA] The Organisation of Petroleum Exporting Countries yesterday agreed to lift oil output limits, an Opec delegate said, in a bid to ease oil prices from US$55 a barrel. Opec decided to raise its formal production limits by 500,000 barrelsReuters - 161 words
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123 2005-06-16 14 Bloomberg [NEW YORK] Blackstone Group, the investment firm that's raising more than US$ 10 billion for the world's biggest buyout fund, agreed to acquire hotel company Wyndham International for US$l.44 billion in cash as travel surges in the US. Blackstone will pay US$l.l5 a shareBloomberg - 123 words
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159 2005-06-16 14 Bloomberg [TOKYO] Japan's Fair Trade Commission yesterday filed criminal complaints against Mitsubishi Heavy Industries and 17 other companies, claiming that they rigged bids to build bridges for the government. Kawasaki Heavy Industries, Nippon Steel Corp, Mitsui Engineerings Shipbuilding Co and Sumitomo Heavy IndustriesBloomberg - 159 words
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AVIATION
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Article, Illustration520 2005-06-16 15 PARIS AIR SHOW AFP [TOKYOI Japanese engineers are embarking again on a cherished dream of designing a 'Super-Concorde', a supersonic plane that can conquer the distance between Japan and other developed countries and potentially make the nation an aerospace power. An agreement signed onAFP - 520 words
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473 2005-06-16 15 AFP [LE BOURGET, France] European adventurers who made the first non-stop round-the-world flight by balloon said a visionary project to make a long-range solar-powered plane that can fly by night had cleared a big hurdle. Bertrand rfccard of Switzerland and Britain's BrianAFP - 473 words
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193 2005-06-16 15 AP [KUALA LUMPUR) Malaysian budget carrier Air Asia Bhd said on Tuesday it will sign a US$l.5 billion contract with a GE subsidiary to maintain its aircraft engines. The 20-year contract will be signed with GE On Wing Support Malaysia Bhd, aAP - 193 words
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480 2005-06-16 15 Reuters [LE BOURGET] Plane makers Airbus and Boeing Co on Tuesday took the edge off some of the rhetoric in the world's biggest potential trade war, striking a conciliatory tone at the Paris Air Show. Airbus said the reason it had delayed its A 350Reuters - 480 words
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559 2005-06-16 15 India's Kingfisher places order worth US$3b; GECAS to buy 10 planes for US$1.6b Reuters Bloomberg [LE BOURGET] European plane maker Airbus boosted commitments for its planned A 350 jet yesterday as it scrambles to catch up with Boeing's midsized 787, and announcedReuters; Bloomberg - 559 words
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263 2005-06-16 15 Bloomberg [HONG KONG] Hong Kong has reached agreements with four countries, including Singapore and Germany, to increase the number of passenger flights to and from the city a£ the government seeks to liberalise its aviation market. Airlines from Singapore, Bahrain and MexicoBloomberg - 263 words
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Article397 2005-06-16 15 AIRLINE CODES: AA: American Airlines (AAL), AF: Air France (AFR), AI: Air India (AK), AY: Finnair Oy (FIN), AZ: Alitalia Airlines (AZA), BA: British Airways Public Ltd Co (BAW), BG: Biman Bangladesh Airlines (BBC), BI: Royal Brunei Airlines Sdn Bhd (RBA), BO: Bouraq Airlines (BOU), BR:397 words
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SHIPPING
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620 2005-06-16 16 It says ineffective planning by stakeholders has been costly [SINGAPORE] There is an urgent need for the container industry to shoulder more of the responsibility in making the case for additional container handling capacity in the Western region, according to Neptune Orient Lines620 words
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Article290 2005-06-16 16 SGX '000 JunelS Sj Vol CH Offshore .0.36 unch 306 ChuanHup 0.76 0.02 1778 Cosco Corporation 1.86 -0.01 8264 CWT Distribution 0.69 0.02 586 Ezra Hldgs 1.21 -0.01 39 Freight Links 0.08 -0.01 63 Grand Banks Yacht 0.93 unch 0 Jaya Holdings 1.09 0.02 5190 K1 Venture 0.27290 words
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Article316 2005-06-16 16 ALEC ALMAZAN - By ALEC ALMAZAN in Manila KEPPEL Philippines Marine announced that it has completed delivery of the most advanced tugboat built by its Batangas shipyard. The harbour tug Salalah was delivered to its Omani owner, Salalah Port Services the first tugboat Keppel Batangas has ever built for316 words
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149 2005-06-16 16 Bloomberg LONDON] Pirates boarded a two-million-barrel oil tanker docked outside Iraq's largest export terminal in the Persian Gulf before being repulsed by the crew, the ship's operators said. It was the second incident in the past month. The attackers boarded the Indian-flagged PremBloomberg - 149 words
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Article, Illustration1116 2005-06-16 16 Shipping Agreement to be enhanced, allowing shipping companies in both countries to set up wholly-owned subsidiaries, with no geographical limitation CHINA is Singapore's top investment destination, and one of its top trading partners. In 2004, Singapore's total trade with China reached $53 billion, a 44.5 perFILE PHOTO - 1,116 words
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170 2005-06-16 16 Bloomberg [OSLO] Capital Maritime Trading Corp, a Marshall Islands-based owner of tankers and dry-bulk ships, plans to sell new shares worth as much as U*****.7 million in an initial public offering to cut debt. Capital Maritime, owned by Greece's Marinakis family, plansBloomberg - 170 words
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Advertisement65 2005-06-16 16 ATTENTION ALL SHIPPING COMPANIES WITH EFFECT FROM 19TH MAY 2005 MARPOL 73/78 ANNEX VI SINGAPORE STANDARD CP:6O 2004 REQUIRE SAMPLES TO BE TAKEN AT SHIP'S MANIFOLD WHEN RECEIVING BUNKERS HAVE YOU MARITEC supplies all your needs to comply with the mandatory requirement. Maritec Pte Ltd 192, Pandan Loop, #05-26/27/28 Pantech65 words
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Advertisement23 2005-06-16 16 transport insurance plus stability Insurance for: Transport and logistics operators Ports and terminals Cargo handling facilities --fl* ■.>. TT CLUB S/ I W j23 words
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Advertisement62 2005-06-16 16 INVITING SHIPPING CLERK AT FOLLOWING PARTS. KnowMg* of chartering of ship 1-3 years axp«rsnc« In shipping company Knowledge of operation of ahlp 2 year* experence In shipping trading company Knowledge of Import export bank document Common Requirement* Speak fluent English I Mandarin If you meet all the requirements, send us62 words
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SINGAPORE ARTS FESTIVAL
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Article, Illustration697 2005-06-16 17 APARNA RODDAM - Rock On Singapore may be a signal that it is, writes APARNA RODDAM APARNA RODDAM fm HE notion of arts as 'stuffy' is gj —being broken down. .forms I such as rock are fmding their B place in the arts along with classical music," declared697 words
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Article354 2005-06-16 17 STEPHANIE BURRIDGE - By STEPHANIE BURRIDGE THE collaboration between Singapore's Arts Fission and Korea's CcadoO for 12 SMS Across the Mountains took the audience on a mul-ti-media dance journey that explored the dynamics of space and place. If only the movement could have been equally dynamic. By contrasting354 words
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Advertisement426 2005-06-16 17 I a I but it takes a person I I za To Treat Dear OT Dad To I /t Heaiy, Wholesome Buffet at /Ae Phoenix I 3 Garden Cafe, this Father's Day and stand a I chance to win a FREE night stay at Hotel Phoenix. in the Specialists' Shopping426 words
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Advertisement22 2005-06-16 17 GOOD GAINS Let your investors know by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. [NoticesI22 words
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EDITORIAL & OPINION
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Article507 2005-06-16 18 EDITORIAL RECENT high-profile corporate scandals have led to calls for tighter rules and tougher enforcement action. But there are two matters that are often overlooked in the debate: The question of business ethics and the role of minority shareholders. No set of rules could have prevented507 words
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Article, Illustration927 2005-06-16 18 ROBERT SAMUELSON - With low birth rates and slowing economy, it faces rising discontent and sliding global power ROBERT SAMUELSON The Washington Post Writers Group EUROPE as we know it, is slowly going out of business. Since French and Dutch voters rejected the new Constitution of the European Union,The Washington Post Writers Group; AP; AFP - 927 words
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Article, Illustration754 2005-06-16 18 WILLIAM PESEK JR - THE BOTTOM LINE WILLIAM PESEK JR WRONG, wrong, wrong. That's about the nicest thing that can be said about investment banks' predictions on China's currency. Let's just say that if you traded on what Citigroup Inc. JPMorgan Chase Co, Merrill Lynch Co and others754 words
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Article, Illustration1349 2005-06-16 19 MARC HAUSHOFER - Although natural disasters cannot be prevented, the social and economic costs can be mitigated by managing such risks By MARC HAUSHOFER AS I witness increasing seismic activities in this region, I cannot help but recall an article written by one of my colleagues in the MayREUTERS - 1,349 words
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551 2005-06-16 19 Penelope Phoon - LETTERS TO THE EDITOR Penelope Phoon Head of ACCA Singapore Singapore WE refer to the letter, "Make accounts audit optional" (BT, June 9). The letter suggested that "maybe Singapore should take the lead and make audit of accounts optional for all companies since551 words
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111 2005-06-16 19 Angelina Fernandez - Angelina Fernandez Director (Communications) Monetary Authority of Singapore I REFER to "Loopholes found in global insurance sector" (BT, June 13) that suggests the Singapore life insurance industry is exempt from anti-money laundering (AML) rules. This is not accurate. Life insurers in Singapore are required to111 words
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139 2005-06-16 19 Eric Rosenkranz - Eric Rosenkranz Chief Executive Officer Strategic Thinking Group Singapore THE question as to whether the Singapore Exchange (SGX) should court mainland China companies to list is a strategic one. SGX competes in the global marketplace with other exchanges. So it should be139 words
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Advertisement103 2005-06-16 19 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 libel103 words
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Page 19 Miscellaneous
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Miscellaneous339 2005-06-16 19 CRYPTIC CROSSWORD 4 Shed tears, seeing little ACROSS change (4) 1 Cutters of journalist cliches g Began with nothing written (4-4) for speech (6) 5 Manages to garage fashion- 7 Flower that makes proper able cars (6) wine? (8) 9 Spoil the moment and place 8 Bargains to include favourite339 words
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Article2401 2005-06-16 20 SGX XTRANET 52-MA Tal last Vol Day Last Quota GrDiv Mv GrVM Nat MCap HW> Low Coda Company Sala COOO) H>ah lo» lnyar Sdhr N Cot P/t to* ********** 6065 Diamonds USIOISOcd 6095 15 DJ US Tcch US3740 6097 ISMSCISpore US555 6101 I5S4P500 U***** ********** 6170 SPDRS US*****2,401 words
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Advertisement37 2005-06-16 20 /JKSt T /1 Le ma tre de I'horlogerie depuis 1875 f AUDEMARS LA f Sole Distributor Service Centre: AUDEMARS PIGUET (SINGAPORE) PRIVATE LIMITED. 541 Orchard Road #17-00 Liat Towers Singapore *****1. Tel: 6238 6678 Fax: 6238 6676.37 words
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Article3421 2005-06-16 21 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local ciafT la SS la USS %dy yr *dy *yr dy *yr iun 14 Index Change Change Change Change Change Change World Index Preliminary 870.7 0.1 2.1 -0.1 0.9 0.2 -1.8 t EAfE Preliminary 8112 0.1 5.0 -U 03 -3.6 Europe Preliminary3,421 words
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Advertisement1168 2005-06-16 22 > n —ji on I r lUI Ofl p# t viTPK NYK GROUP SOUTH ASIA PTE LTD V7W A« rmC |T TEL:*****123 X% A JkllNE VtfHߣ7 M Xm LINE Fax:*****Bs6(Regionalsales)/6239 7109(OPS)/*****785(Documentation) W NIPPON YUSEN KAISHA TOKYO «O»AKU KASHA. UO (C/R NO: **********0E) ca# l37S *****000 w BKiJ Sja Anson Houm1,168 words
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Advertisement785 2005-06-16 22 IIKTOASU RORO SERVICE vissa/vor mowm hbghtcu m raj u> sm *t STUITS VENTURE 11/05 IS 3.2 23/05 24/05 01/04 04/04 04/04 STtAITS VENTURE 12/05 15 3.2 06/04 11/04 STRAITS VENTURE 13/P5 15 3.2 11/04 21/04 24/04 21/04 01/07 I AUSTRALIAN RORO SERVICE 1 VBSa/VOT I RMfQCI) IMBGWIPWI LO SW JKT785 words
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Advertisement1013 2005-06-16 23 www.homburgsud.com AIISE SERVKI (EXPORT) ra m SINQtPOtt imSIAWE SYMtEY MHIOUItHt ADtUUDt iW6>f(HI WIStAWI STPNtT BMOWW ADtmOt scorn QIC 17/06 27/06 19/06 02/07 05/07 SCOTUOIfS 15/07 15/07 27/07 02/01 CAI YUM Ht 060S 24/06 04/07 06/07 09/07 12/07 OUTUMHtOtIS 12/07 01/01 03/01 06/00 MAW CAP AGUIIAKIOSS 01/07 11/07 13/07 16/07 19/071,013 words
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Advertisement1157 2005-06-16 23 Si T3E isrKUQLUtft MLJIAm-JM—= newdynami ~WW m M GOLDENGATt SO9N ?»/i 29/6 1/7 z gj 3 GOLDEN TRADE 509N S/7 6/7 8/7 NBXDYNAMK 090 A 7/7 W Cain) K6 IM-Swun »VSI mAng bah NorM WW port VESSEL VOY KG SIN HKG SUA TAP HSK VESSEL ifi NOKASIA EVEKEST 450E 19/61,157 words
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Advertisement845 2005-06-16 23 m asasfe WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS I vtssa I VOT ISI 1 p.klang[ COtOMO I n swva COUWHO I I"- I I I I I I AISO ACOPTN6 FQ TO COOW. TUTKOWN (VIA COLOMW) AMD MMU t GOAI (VIA N SHPAJ845 words
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THE BUSINESS TIMES SHIPPING TIMES
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Advertisement556 2005-06-16 24 IAUf WALLENIUS WILHELMSEN website: http://www.2wglobol.com VISSIL ~VOY L»C MAO HOW MIA S>Y~ BAL ""piT" NYC NEW MOO TAIKO AfSli 4201 ms 6.4 M I 18/06 11/07 20/07 24/07 29/07 27/07 30/07 TARONGA AfSIS 320Tms 6.25 M I 20/07 10/08 19/08 24/08 30/08 28/08 TAMPERE AFSI9 4001 MS 6.30 M 27/07556 words
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Advertisement906 2005-06-16 24 VBSII VOY SIN PGU VISSa VOY SH JKT PACIANPA 1492N IS/06 16/06 PACOMTAM 9303 14/04 11/04 CSf 2301 0134P 16/06 11/06 ZffIZZZgKZ PACIANPA 1493N 17/06 17/06 PACMNTAII <104 —13/06 |_J5/04_J PAC lANPA 1494N 18/06 19/06 MfflHlf cy 230 i aiat um {■i"« V PAC lANPA ]JM UM 20/06 ffi SViS906 words
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Advertisement398 2005-06-16 24 BSA JL o MYANMA HH FIVE STAR UNE Vim National Uaa) Loading for Ymgon VESSEL VOY SIN FKL PEN PGU PAGAN 346W SID HPA-AN 337W SID IN MALAYSIA: IOUSTEAD SHIPPING AGENCIES KUI/PKL 03-300SS3M PEN: 04-*****15 ACCEPTIN6 CONVENTIONAL C6O VESSEL VOY HKG SIN PGU PU KUC DON HEART 133 SU> SLO398 words
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BizIT
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Article, Illustration647 2005-06-16 26 RAJU CHELLAM - Platform for delivering content from US to Asia unveiled, reports RAJU CHELLAM RAJU CHELLAM SINGAPORE is now ready to offer owners of digital content such as digital movies, videos, and ads a platform to localise their content and re-dis-tribute it worldwide. TheFILE PHOTO - 647 words
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Article, Illustration171 2005-06-16 26 AMIT ROY CHOUDHURY - By AMIT ROY CHOUDHURY CHINA'S Lenovo Group, which recently bought the PC business of IBM Corp, has launched a ThinkPadbranded Tablet PC, its first. The ThinkPad X4l Tablet PC will create a new alternative in tablet computing without compromising on weight or function, Lenovo said.171 words
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Article114 2005-06-16 26 Reuters [SAN FRANCISCO] Cisco Systems Inc said it is paying about US$l3 million in cash to acquire an Internet security company that employs a mere 11 engineers and was founded just eight months ago. Cisco, the world's No 1 maker of Internet equipment, said itReuters - 114 words
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502 2005-06-16 27 RAJU CHELLAM - Criminals focusing on wireless, mobile computing, warns association By RAJU CHELLAM HACKERS and other online criminals are now focusing on the wireless and mobile computing world to launch attacks and ferret out confidential information such as passwords and credit card numbers, according to the502 words
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Article, Illustration319 2005-06-16 27 Reuters [SAN FRANCISCO] Oracle Corp, locked in a battle with SAP AG for dominance in business software, has started a campaign to take away SAP customers by offering them an Oracle migration plan. Oracle's "Off SAP" plan mimicking one by SAP that triesReuters - 319 words
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366 2005-06-16 27 But executive says its action abides by China's local laws Reuters [SEATTLE] Microsoft Corp's new MSN China Internet venture is censoring words such as "freedom", "democracy", and "human rights" on its free online journals, Microsoft said, putting itself in the middle of a majorReuters - 366 words
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198 2005-06-16 27 Reuters [SEATTLE] Microsoft Corp warned users of three new security flaws affecting Windows and Internet Explorer and urged them to download patches to fix the software. Microsoft issued the patches, along with seven other "important" and "moderate" rated security flaws, as partReuters - 198 words
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Article, Illustration464 2005-06-16 28 AMIT ROY CHOUDHURY - Phone service from Ericsson to reach S'pore, Asia within next 12 months By AMIT ROY CHOUDHURY MOBILE phone users in Singapore and across Asia will soon be able to access Napster's huge digital music content of about a million songs on their464 words
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Article, Illustration338 2005-06-16 28 ROLAND LIM - By ROLAND LIM MOBILE phone vendors launched a slew of phones this week, most being smaller, sleeker 3G models with 2-megapixel cameras. Here's a peek: Motorola showed off its latest 3G handset the Motorola VIISO. A slim clamshell model which weighs 130 grams, it includes338 words
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491 2005-06-16 28 It is sticking to guidance and 100m target for this year Reuters [SINGAPORE] Samsung Electronics, the world's No 3 mobile phone maker, said yesterday it expects handset shipments to remain flat in the second quarter. Samsung, South Korea's most valuable company, shipped aReuters - 491 words
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444 2005-06-16 28 Bloomberg [AMSTERDAM] Royal Philips Electronics, Europe's No 1 maker of consumer electronics, said "lighter demand" in consumer markets in Europe this quarter is hurting the company's plans for growth. "Economic indicators around the world point to reduced growth rates," CEO Gerard Kleisterlee saidBloomberg - 444 words
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Page 26 Advertisements
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Advertisement15 2005-06-16 26 MUSIC ON THE MOVE Mobile users to get access to Napster music PG 28 AVAYA15 words
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Advertisement174 2005-06-16 27 I r t/MT jfe hh H fl I $H f jf sfefl *V J-f*i «>!% mv II SB '-l&Pte p: ;,p v ;CV,^::/ and play. OrganlLrttonsararaaltotat that thafr Information to powarhd only aHhaw and howyw. That hjvjngto chooaablrtwaan pretactlm Information and mafchu It available b a choka from th* past.174 words
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Advertisement34 2005-06-16 27 BE FEARLESS. m r. m v f t •a. v 4; ,v ,.>-. .> i Ti. t. v Si iii. 1*4 v ll I*Hfc f c /i £l/| 1 i ill V 1 V 4l svmantcv34 words
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Advertisement96 2005-06-16 28 I teroom»Btartups. MR? that Nominations for the MiBIBIi 2005 eso.startup awards 2005 are now open Recognising Singapore's New Enterprises To be eligible, a company must: be a privately-held enterprise be under 5 years old (from date of incorporation) have a strong nexus to Singapore have at least 1 year of96 words
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PROPERTY
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Article, Illustration772 2005-06-16 29 KALPANA RASHIWALA - Study shows trend most pronounced in prime districts in primary market By KALPANA RASHIWALA CONFIDENT buyers in Singapore are increasingly looking to big apartments whether to occupy themselves or to rent out, new research shows. Islandwide and covering both primary and secondarySource: S / Jones Lang LaSalle Research; FILE PHOTO - 772 words
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333 2005-06-16 29 Reuters [BEIJING] Some unruly local government officials are still trying to resist Beijing's recent measures to cool the property sector, even as the steps are succeeding in slowing property inflation, state media said yesterday. Beijing has introduced a series of measures in recentReuters - 333 words
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Article1228 2005-06-16 30 ARTHUR SIM - A new market opens up as industrial areas give way to private housing, says ARTHUR SIM ARTHUR SIM IF there is a last frontier in Singapore's residential property market, it would have to be in the West. Long considered the nation's industrial outpost, Jurong, along with1,228 words
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1255 2005-06-16 30 Brought to you by HSBC PROJECT NAME/ PROP CONTRACT TENURE BUKHNMND PRICE PSf STREET NAME TYPE DATE AREA*(SQFT) (SS'OOO) (Si) District 01 7 NON-LANDED People's Park Cpfa Apt ISMUXXS 99 409 170 416 the Sal At Marina Bay Apt1,255 words
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Advertisement52 2005-06-16 29 m «\mtm mmmnmm* m*m: uHf pi mmu Tender Closing Date: 28th June 2005 Viewings are strictly by appointment Please call Ms Christina Sim (*****813) Property Details and Tender Documents are available from iJkk CUSHMAN No 4 Robinson Road, #08-00 88 WAKEFIELD* Singapore *****3 G<ob»< K—i t<w sotutions Tel 6535 3232/52 words
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Advertisement22 2005-06-16 29 Pw H U2ES3I Homes For a private viewing, please call 6336 3688 or 9624 7032. Visit us at www.clunyhill.com.sg for more details.22 words
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Advertisement107 2005-06-16 30 Got the right home? Now get the right home loan. Buying a house in Singapore is a heavy investment. However, you can still have the freedom to live life the way you want, with HSBC home loans. Enjoy these benefits when you take up an HSBC home loan: Competitive interest107 words
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