The Business Times, 23 June 2005

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Total Pages: 32
1 32 The Business Times
  • 16 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial .com.sg. MICA (P) 089/03/2005 Thursday, June 23,2005
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  • 787 1  -  Among those involved were from Seagate, 3M, ST Microelectronics and AMD By JOYCE KOH, RAJUCHELLAM [SINGAPORE] Four people from top multinational companies will be charged in court today with receiving bribes from Citiraya Industries for not crushing electronic chips that were meant to
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  • 135 1 Dsn 2.***** (+9.70) ST INDEX FUTURES 2,207.00 (+9.00) siMsa 262.71 (+1.56) SIMSCI FUTURES 262.80 (+1.30) MARKETS Wednesday Change KLSE COMP 903.33 +7.02 NIKKEI 225 11,547.28 +58.54 HANG SENG 14,161.02 +181.67 SET INDEX 686.57 -3.07 JAKARTA COMP 1,134.69 +1.37 MANILA COMP 1,958.62 +4.53 SEOUL COMP 1002.15 +12.16 SHENZHEN B
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  • 778 1  -  By YEN SREENIVASAN [SINGAPORE] Rumours of a possible Qantas-Singapore Airlines merger have been given a new lease on life by Australian Prime Minister John Howard. Mr Howard told reporters in Sydney yesterday that he spoke with Singapore Prime Minister Lee Hsien Loong by
    REUTERS  -  778 words
  • Page 1 Advertisements
    • 41 1 H BLOOMING BUSINESS S'pore orchid farmers look abroad for growth BizlT The tech giants Jack Kilby, behind open-source inventor alliance pg2B r f r t of the Flatscreens drive integrated boom in LCD 4|" flip circuit, dies panels pg 29 mr
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    • 12 1 COMPANIES New twist at > 4 r troubled Greatronic PGS 11l s^szisraoocK 11
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    • 29 1 m 1 PUMPED UP Petrol prices (■■IK! HARRAH'S STRATEGY Gaming company looks to more S'pore tie-ups PGIO r^ n v Wml'wJm* Jgr ■rv. Aff MJ a //jfl fiM it^Hi
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  • TOP STORIES
    • 545 2 Lasseters plans to put its money on online gaming FAR from being a gamble, Sesdaq-listed Lasseters International Holdings thinks that a venture into online betting looks like a sure-fire winner. The company, which operates casinos in Australia, plans to inject its Australian-listed online gaming operation called Lasseters Corporation
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    • 90 2 CITIBANK customers who go to its previous Orchard Road branch at Yen San Building may be disappointed to find that it moved to new premises at Mac Donald House on Monday. They will, however, be pleased to find that they will be chauffeured
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    • 733 2  -  3 face charges of failing to act honestly, discharge duties diligently By MICHELLE QUAH [SINGAPORE] The responsibility of directors will take centre-stage today as three of China Aviation Oil's board members attend a pre-trial conference over their alleged culpability in the company's financial
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    • 314 2  -  By SAMUEL EE [SINGAPORE] Petrol prices have begun to climb after Friday's unprecedented 26 per cent discount, with ExxonMobil the first to raise them yesterday. Caltex has also increased prices but Shell and Singapore Petroleum Company are holding theirs steady for now. "Shell is
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    • 561 3  -  Panellists at forum suggest R&D in risk management hedging products By NANDEKHIN [SINGAPORE] Countries in Asia and the Middle East should work towards a common Syariah interpretation and standards to bring about greater cooperation in Islamic finance, panelists at the inaugural Asia Middle
      FILE PHOTO  -  561 words
    • 624 3  -  By JOYCE KOH [SINGAPORE] Far from be--ing a gamble, Sesdaq-listed Lasseters International Holdings thinks that a venture into online betting looks like a sure-fire winner. The company, which operates casinos in Australia, plans to inject a related Australian-listed online gaming
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  • Page 2 Advertisements
    • 466 2 Futures Work! Exchange traded forward contracts Thursday 21 July 2005 Time Highlights 9.00 am to 5.00pm Anatomy of a futures trade contract specifications in a futures transaction Venue Sampling common futures contracts the Short-term Interest Rate (STIR) Orchard Hotel Singapore Futures, the Bond Futures, the Currency Futures, the Single Stock
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    • 11 2 Singapore Government Directory A comprehensive and useful •9 At! if**# 1
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    • 36 2 is t> ty C .Uv U- FIND THE ONES 4 THAT FIT! r Recruit the right people though Shafts Times Been*. J Cad 1800 289 8822 or email ,<j -J recruKAsptuoßLsg .-—.tudwrtise.^ .-•J _C IBSSBB 5X3
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  • COMPANY NEWS
    • 398 4  -  Acquisition renews long relationship between the 2 established houses By JOSEPHINE TAY SINGAPORE-LISTED Jardine Strategic Holdings has agreed to buy. a one-fifth stake in international bank owner Rothschilds Continuation Holdings (RCH), renewing a century-old relationship that began with their textile deals in China
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    • 566 4  -  HOCK LOCK SIEW By R SIVANITHY THOSE who track developments in the local structured warrants segment would have noted the recent claims to market leadership by the two biggest players, Deutsche Bank and Macquarie Bank. Macquarie last week issued a statement saying it
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    • 4657 4 UNIT TRUSTS FUNDS Citi Global Healthcare Fund 0.98/ Citi Gb Fin Sivcs Fund 1.06/ S5JKSMS®zzzz=;:Tffi Star Europe Eqtyl 0.80» S B Sal Gib Bus Ldrs Ptfl 03(USD) 1.1832/ Star Eirope Bond 2W Cjtlbond s'pore Class Y 0.978/ Star Europe Bal.™ 1.11» S B Sc* Eqty Dwidcnd Pf 04 (SGO) 0.9582/
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    • 499 5  -  Greatlink and a James Hong strike deal to negotiate stake sale By CHEN HUIFEN EVENTS at troubled Greatronic Ltd took another turn yesterday with the company announcing that substantial shareholder Greatlink Electronics Co Ltd which is controlled by former chairman Huang Ming
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    • 543 5  -  By TEH HOOI LING OF the 20 to 30 Singaporelisted companies that it has analysed, strategy and performance consulting company Organisation Development Pte Ltd (ODPL) only found two outstanding ones Food Empire and Hyflux. "Both these companies have very good business models and
      FILE PHOTOS  -  543 words
    • 201 5 MAINBOARD-LISTED Datacraft Asia has won a one-year managed services contract from South Korea's broadband Internet service provider KT Corp. This is Datacraft's second contract from KT Corp in three months. In March, it clinched a US$l.45 million deal to provide KT Corp with a network disaster
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  • Page 5 Advertisements
    • 1332 5 How to avoid an M&A hangover 41 And still go out on the binge J Singapore Inc and other corporations have fectively, the FCO must be actively involved: quires that the purchase price be allocated to the identifiable needs, and also ensure that the investee is able to generate been
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  • SINGAPORE MARKETS
    • 496 6  -  STOCKS That seems to be the latest theme, thanks to a Merrill report and high oil prices R SIVANITHY Senior Correspondent Around this time last week, the main theme traders pursued was "sell the banks, buy property", courtesy of a CLSA Asia-Pacific Markets recommendation
      Source: Bloomberg  -  496 words
    • TRADES TO WATCH
      • 397 6 POPIAH king Sam Goi Seng Hui has been nibbling the shares of Indonesian-linked food group QAF. On Monday, Mr Goi bought 65,000 shares of QAF at an undisclosed price. The acquisition has raised his stake in QAF marginally to 5.5 per cent from 5.49 per
        397 words
      • 137 6  -  Compiled by Eddie Toh THE private vehicle of Wee Cho Yaw's family has continued to acquire shares of United Overseas Land. The family's C Y Wee Co bought another 900,000 shares in UOL at $2.26 apiece on Tuesday, according to a disclosure yesterday.
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    • Article, Illustration
      430 6 OTHER SINGAPORE INDICES Jun 22 VALUE CLOSE BT OB/OS 12.00 -7.00 BTCAPI -*****.00 +69.00 BT 10-day MA -*****.00 +2.00 AH-SG Equities 565.43 +3.93 SG Equities Elect 138.42 +0.62 SG Equities Fin 1553.32 -8.86 SG Equities Prop 561.08 -1.05 SiMSCI 262.71 +1.56 SiMSCi Futures 262.80 +1.30 MOST ACTIVE STOCKS VOLUME UniFiber
      430 words
    • Article, Illustration
      973 6  -  Compiled by JOYCE KOH ST Engineering June 22 dose: $2.44 DBS VICKERS RESEARCH, June 22 ST ENGINEERING'S recent developments suggest a healthy order book momentum and we expect more contract announcements in 2H05. These could include an Easyjet MRO contract and finalisation of the Egyptian Fast Missile Craft
      Source: Bloomberg  -  973 words
    • 536 6  -  CURRENCIES LARRY WEE Senior Correspondent NERVOUS, volatile currency trading saw the US dollar reverse course again in overnight trading, in the third of three unruly seesaw sessions which saw it first spike impressively on Monday, fall back sharply on Tuesday, and then recover only some
      Source: Reuters  -  536 words

  • COMPANY NEWS
    • 287 7  -  They will invest US$62m in first phase of 35 ha Dalian project By MINDY TAN ASCENDAS of Singapore and Dalian Software Park have joined forces to develop a 35 ha IT park along the Dalian coast, in the Liaoning province of northeastern China. Under
      287 words
    • COMPANY BRIEFS
      • 86 7 SINGAPORE Telecommunications and Noida Software Technology Park Limited (NSTPL), a satellite teleport operator in India, intend to jointly launch SingTel's IP Learn service in India for the global markets. The interactive distance learning service, marketed under the Cosmic Campus brand, will allow learning
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      • 53 7 ASIA Pacific Breweries has appointed Sijbe (Siep) Hiemstra, 49, as a non-executive director. Mr Hiemstra, whose job title is president of Heineken Asia Pacific, replaces Herman Hofhuis who has retired from Heineken. Kenneth Choo, currently alternate to Mr Hofhuis, has been reappointed as alternate
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      • 46 7 ASIATRAVEL.COM Holdings has appointed Hung Sim Sun as a new non-executive director following Sanjay Das' resignation. Ms Hung, 37. is assistant vice-president at Star Ventures. Oh May Yin is named her alternate director. Yap Thian Seng ceased to be an alternate director.
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    • 329 7 Reuters [SINGAPORE] Singapore state-owned Mapletree Investments is set to list its real estate investment trust (Reit), raising about $200 million in its initial public offering (IPO) next month, a source familiar with the deal said. The Reit Mapletree Logistics Trust
      Reuters  -  329 words
    • 215 7  -  By USA TAN WIRELESS technology creation company Giant Wireless Technology Limited has signed a four-year HKS39O million (SsB4 million) term loan and revolving credit facility with 10 banks, including DBS Bank as the mandated arranger and lead manager. The company is using the facility primarily
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    • 219 7 Bloomberg [KUALA LUMPUR] Bursa Malaysia Bhd, which manages the country's stock exchange, signed a preliminary accord with FTSE Group to study a plan to create new indexes that will meet international standards and attract more overseas investors. The new indexes "will be
      Bloomberg  -  219 words
  • Page 7 Advertisements
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  • BLUE CHIPS
    • 915 8  -  The failed bid for Pakistan's PTCL indicates that SingTel won't overbid even as it seeks to expand in South Asia and elsewhere, reports WONG WEI KONG WONG WEI KONG SINGAPORE Telecommunications may have failed earlier this week in its bid for Pakistan's largest telco, but
      AFP FILE PHOTO; Source: Bloomberg  -  915 words
  • Page 8 Advertisements
    • 1864 8 MACQUARC MACQUARIE BANK LIMITED (ABN 46 008 583 542) (Incorporated under the laws of Australia) NOTICE TO WARRANTHOLDERS To all Holders of: (I) 100,000,000 European Style Cash Settled Call Warrants expiring on 4 July 2005 relating to the ordinary stock units of Oversea-Chinese Banking Corporation Limited (OCBC MBL ECW*****4); and
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    • 3 8 The Business Times
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  • SINGAPORE NEWS
    • 348 9  -  Law not updated since coming into effect during dotcom boom By RAJU CHELLAM [SINGAPORE] As more Singaporeans buy goods and services online, the government is planning to upgrade Singapore's Electronics Transactions Act (ETA) to cover a slew of new services and technologies. The
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    • 424 9  -  By CHLOE CHOY AFTER spending more than 13 years in the sports marketing industry she has helped pioneered, local sports public relations (PR) veteran Rose Tan has announced her retirement. Last week, the managing director of Octagon RTA sold her remaining 51 per cent stake in
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    • 272 9 COE premiums continued to fall yesterday, with the category for larger cars slumping to the $15,000 level. A certificate of entitlement in Category B for cars above 1,600 cc sank by $1,001 to $15,001, the lowest since January when it was $14,002. Before that,
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    • 216 9 SINGAPORE welcomed 708,496 visitors last month, 7.3 per cent more than in May 2004, according to figures released by the Singapore Tourism Board yesterday. Indonesia, India, China, Malaysia and Australia were Singapore's top five visitor-generating markets, with tourists from the five countries accounting
      FILE PHOTO  -  216 words
    • 446 10  -  More bidders are expected to drop out as the costs are staggering By ALEXANDRA HO HARRAH'S Entertainment, the world's largest gaming company, may already have Keppel Land in its corner for its bid for the two integrated resorts (IR) with casinos. But
      446 words
    • 282 10 THE winners of the integrated resorts (IR) concessions should not have much problems raising funds for their projects, according to Deutsche Bank's managing director of global real estate investment banking, Drew Goldman. "Singapore is fransparent in its process, which is a very
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    • 208 10  -  By UMA SHANKARI CITIBANK is to replace 278 Singapore credit cards in response to the security breach at US-based credit card transaction company Card Systems Solutions, the bank said yesterday. Citibank arrived at the final figure of 197 Visa cards and 81
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    • 377 10 Reuters SINGAPORE consumer prices probably rose only slightly in May as higher food costs were partly countered by falling car prices, a Reuters poll showed on Wednesday. The median forecast from a Reuters poll was for monthly inflation to rise a seasonally adjusted
      Reuters; FILE PHOTO  -  377 words
  • Page 9 Advertisements
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  • Page 10 Advertisements
    • 1652 10 2g9gg22/jto^_PoticCTg»ph com SinGAPORE AIRLinES LI mIT ED Co Regn No. *****0078R (Incorporated in the Republic of Singapore) Notice of Annual General Meeting Notice is hereby given that the Thirty-Third Annual General Meeting of the Company will be held at the Mandarin Court, 4th Floor, Grand Tower, Meritus Mandarin, 333 Orchard
      1,652 words
    • 323 10 Noli ccs 8 DBS DBS BANK LTD (Incorporated in the Republic of Singapore) Company Registration Number *****0306E NOTICE TO WARRANTHOLDERS To all Holders of 25,000,000 European Style Cash Settled Call Warrants relating to the ordinary stock units of Oversea-Chinese Banking Corporation Limited expiring on 22 July 2005 (OCBC DBS ECW*****2)
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    • 344 10 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50. AND IN THE MATTER OF Yl QUAN PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) (Company Registration No. *****1651K) A! an Extraordinary General Meeting of the members of Yi Quan Pte ltd, duly convened and held at 122 Middle Road *08-03 Midlink Plaza
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  • FOCUS: INDUSTRY
    • 893 11  -  To grow further, Singapore orchid exporters must expand abroad where land and labour are cheaper, reports WEE LI-EN WEE LI-EN SINGAPORE'S urban landscape is not commonly associated with orchid farming. However, the island is actually a leading centre in the world for orchid cultivation and research.
      ARTHUR LEE  -  893 words
  • Page 11 Advertisements
    • 2438 11 Notices MACQUARC MACQUARIE BANK LIMITED (ABN 46 008 583 542) (Incorporated under the laws of Australia) NOTICE TO WARRANTHOLDERS To all Holders of: (I) 20,000,000 European Style Cash Settled Call Warrants expiring on 20 October 2005 relating to the ordinary shares of Datacraft Asia Ltd (DATACRAFT MBL ECW*****0); (li) 20,000,000
      2,438 words

  • ECONOMY WATCH
    • 429 12 Yawning US current account deficit will force dollar lower, he says Bloomberg [WASHINGTON] Morgan Stanley chief global economist Stephen Roach says Federal Reserve interest rate policy is "reckless" and "unconscionable", and urges the US central bank to raise rates at a faster pace.
      Bloomberg  -  429 words
    • 302 12  -  By ANTHONY ROWLEY in Tokyo A 68 PER CENT plunge in Japan's May trade surplus from a year earlier caused by falling exports to China and other Asian nations and high oil prices sparked concern yesterday that Japan's main growth engine is in trouble.
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    • 617 12 THE YUAN DEBATE Reuters, Bloomberg [MILAN! China's government could hold out for a long time against its trading partners' pressure for a more flexible currency, an influential Chinese economist told Reuters on Tuesday. Fan Gang cautioned that China may not revalue the yuan any
      Reuters,; Bloomberg; AP  -  617 words
    • 310 12 Reuters [WASHINGTON] US Treasury Secretary John Snow on Tuesday said that using punitive trade sanctions to compel China to modify its currency policy would be a mistake. "I think anything that points in the way of closing down trade, interfering with trade, isolationism and
      Reuters  -  310 words
    • 397 12 AP [WASHINGTON] The robust growth Asian economies are experiencing will not be seriously affected if China decides to let its currency rise, the head of the Asian Development Bank said on Tuesday. But Haruhiko Kuroda said in an interview with The Associated
      AP  -  397 words
  • Page 12 Advertisements
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  • MALAYSIA/INDONESIA
    • 465 13  -  It also aims to boost trade with Middle Eastern nations By PAULINE NG in Kuala Lumpur MALAYSIA plans to position itself as an international Islamic financial hub not only for the growth opportunities in the area of Islamic financial services, but also to capitalise
      REUTERS  -  465 words
    • 250 13 Bloomberg [JAKARTA] Exxon Mobil Corp agreed to cut its share of revenue from Indonesia's largest untapped oilfield, ending a four-year dispute with the government that has jeopardised the Opec nation's status as a net oil exporter. Exxon will get 6.75 per cent of
      Bloomberg  -  250 words
    • 2283 13 *01 General Corp.- .0.44 unch 150 J—22 KM W- rooo) Genting 19.50 0.50 1419 George Kent .0.69 unch 85 ASM Realty 1.51 -0.05 4 GHLSystems -0-25 0.01 877 Abric -038 unch 20 GlobetronksTedi .0.43 0.01 533 ACP Industries 0.73 unch 95 GlomacBhd 1.39 unch 441 Advance
      2,283 words
    • 236 13 AFP [KUALA LUMPUR] Malaysia will soon unveil initiatives to reform govern-ment-linked companies as part of its drive to make the economy more competitive, Prime Minister Abdullah Ahmad Badawi said yesterday. The government has "embarked on substantial reform and restructuring of government-linked companies with
      AFP  -  236 words
    • 148 13 Bloomberg (KUALA LUMPURI Malaysia's Cabinet suspended Deputy Minister of Natural Resources and Environment S Sothinathan for three months for criticising the government in parliament, Prime Minister Abdullah Ahmad Badawi said yesterday. "We made a decision to suspend him with immediate effect for what he
      Bloomberg  -  148 words
    • NOTE BOOK
      • 67 13 Reuters [TAIPEI] The chairman of Taiwan's United Microelectronics Corp (UMC), the world's number two contract microchip maker, will resign if the firm is found guilty of forging an illegal partnership with a Chinese company, the company said yesterday. UMC is being investigated
        Reuters  -  67 words
      • 55 13 [WASHINGTON] The US Food and Drug Administration (FDA) has approved generic versions of two major Aids drugs made by Indian pharma companies, the Times of India reported yesterday. The FDA announced on Monday that it had "tentatively" approved nevirapine tablets. Last week,
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      • 70 13 Bloomberg [HONG KONG] Geely Group Ltd, China's largest privately-owned carmaker, said it is in early talks to buy MG Rover Group Ltd's moulds and production equipment business. Negotiations between the two companies to establish a jointventure "several years ago" were suspended in
        Bloomberg  -  70 words
  • Page 13 Advertisements
    • 1182 13 IMC <,V u To 1800 3W9 8»22 Bfril: ■oticesespfa.com.sg ©>URTS Courts (Singapore) Limited Co. Registration No. *****1411 C Notice of Annual General Meeting 4 > NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be held at the Singapore Marriott Hotel, Level 2, Legacy Suite. 320
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  • GREATER CHINA/INDIA
    • 469 14 Foreign control of Chinese banks could be raised AFP [BEIJING] China may raise the limit on foreign ownership in its banks, state media said yesterday, signalling a new opportunity for lenders such as Bank of America which are craving a slice of the market. Li
      AFP  -  469 words
    • 364 14 Reuters [SHANGHAI] Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's biggest maker of made-to-order microchips, plans to start building a second US$2 billion-plus factory in Shanghai around 2007 when its current plant nears full capacity, a source close to the firm said
      Reuters  -  364 words
    • 231 14 Reuters [BEIJING] The number of Chinese city commercial banks with foreign shareholders is expected to reach 10 by the end of the year, compared with the current six, a senior banking official said yesterday. The capital adequacy ratio at a majority of city
      Reuters  -  231 words
    • 437 14 AFP, AP [SINGAPORE] Harrah's Entertainment, the newlycrowned world's biggest gaming firm, said on Monday that it had its sights on a stake in booming Macau even as it competes for two casino licences in Singapore. Harrah's senior vice president for business
      AFP,; AP  -  437 words
    • 434 14 Bloomberg [SEOUL] Posco, the world's fifth-largest steelmaker, signed an agreement yesterday to spend US$l2 billion on a steel project in India, the largest overseas investment in the country and the biggest for a South Korean company. Now the hard part
      Bloomberg  -  434 words
  • Page 14 Advertisements
    • 984 14 No I ices MHibib Bank Limited and Subsidiary Companies hJTsSS. M. Pnawponmd In M<Mon> CONSOLIDATED (SUMMARIZED) BALANCE SHEET AS AT DECEMBER 31,2004 2004 2003 2004 2003 (Rupees ln'000) (Rupees ln'000) CAPITAL ASSETS Authorised capital 13.800,000 30,000,000 Cash and balances with treasury banks 31,970.290 27,639,313 Balances with other banks 33,386,118 20,312,646
      984 words

  • ASIA-PACIFIC/WORLD
    • 913 15  -  JAPAN INSIGHT Nissan's CEO Carlos Ghosn argues that European unity is still achievable despite internal bickering ANTHONY ROWLEY Tokyo Correspondent This week I listened to Carlos Ghosn, the man who "turned around" Nissan Motors, and who has since become chief executive of both Nissan and its
      REUTERS  -  913 words
    • 437 15 Bloomberg, Reuters [TOKYO] Shares of Sony Corp, the world's secondbiggest consumer electronics maker, have fallen most four times as much as~ the Topix index since Howard Stringer was named chief executive officer in March. Shareholder Naoki Fujiwara says he must outline cost cuts and
      Bloomberg,; Reuters; Source: Bloomberg  -  437 words
    • 401 15 He is poaching on other agencies' turf says ex-SEC head Bloomberg [WASHINGTON] Harvey Pitt, the former chairman of the US Securities and Exchange Commission (SEC), said New York Attorney General Eliot Spitzer is "poaching" on federal regulatory agencies' turf. "To the extent Eliot Spitzer has
      Bloomberg  -  401 words
    • 363 15 Bloomberg [NEW YORK] Citigroup Inc is close to an agreement to swap its asset-management unit for Legg Mason Inc's brokerage, stock and cash in a transaction valued at about US$4 billion, people familiar with the talks said. The deal would make
      Bloomberg  -  363 words
    • 195 16 AFP [LONDON] British telecommunications group Inmarsat launched itself on the London Stock Exchange (LSE) yesterday in the year's biggest flotation before seeing its share price rocket. Inmarsat which provides satellite services to both government agencies as well as international corporations floated at 245
      AFP  -  195 words
    • 655 16 But he wants the 'other anomaly'farm subsidiesto be changed too Reuters, AFP [LONDON] British Prime Minister Tony Blair, acknowledging that London's rebate from EU coffers is an anomaly that "has to go", said on Tuesday that he believed he could get
      Reuters,; AFP  -  655 words
    • 506 16 AFP [BORDEAUX. France] The Bush administration is threatening a wine war with Europe as French producers target American consumers with new brands such as Fat ***** and Red Bicycle, French officials say. Washington is demanding a new wine accord by July 15 to
      AFP; AP  -  506 words
    • 176 16 AP [NEW YORK] Profit at embattled Wall Street brokerage Morgan Stanley fell 24 per cent in the second quarter, the company announced yesterday, due to difficult market conditions and higher legal expenses in connection with highprofile lawsuits. The company added it is still reviewing
      AP  -  176 words
    • 162 16 Reuters [WASHINGTON] Three lawsuits have been Hied by Formula One fans seething over the decision to stage the US Grand Prix with only six cars. A class-action lawsuit was filed in Indianapolis on behalf of Larry Bowers, who wants
      Reuters  -  162 words
    • WORLDWATCH
      • 104 16 Reuters [NEW YORK] Toys R Us Inc on Tuesday said chairman and CEO John Eyler and COO Christopher Kay have resigned from the toy retailer, which is being bought by an investment group. It said the resignations will take effect as soon as
        Reuters  -  104 words
      • 62 16 Reuters [TOKYO] Tokyo Stock Exchange Inc has not changed its plan to go public this fiscal year, its president said yesterday, shrugging off fears that its listing might be delayed by growing friction with the financial watchdog. The TSG last week rejected a
        Reuters  -  62 words
      • 87 16 Reuters [CANBERRA] MasterCard International was alerted last December of a scam potentially affecting 40 million credit card holders worldwide by one of Australia's largest banks, the country's federal treasurer said yesterday. MasterCard International in the US on June 17 said it had notified financial institutions
        Reuters  -  87 words
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    • 1313 16 Xoiices Q> MACOUARC MACQUARIE BANK LIMITED (ABN 46 008 583 542) (Incorporated under the laws of Australia) NOTICE TO WARRANTHOLDERB To: (1) ALL HOLDERS OF EUROPEAN STYLE CASH SETTLED CALL WARRANTS RELATING TO THE ORDINARY SHARES OF DBS GROUP HOLDINGS LTD ISSUED BY MACQUARIE BANK LIMITED (DBS MBL ECW*****8); (2)
      1,313 words

  • AVIATION
    • 623 17 Minister sees scope for a regional airline, integration with other players Bloomberg [NEW DELHI] The Indian government expects a "shakeout" in the aviation industry as new carriers force prices down to win customers from existing airlines. India expects eight to
      Bloomberg; BLOOMBERG  -  623 words
    • 505 17 Reuters [ORLANDO. Florida] Passengers began lining up on Tuesday at Orlando International Airport to get their irises and fingerprints scanned in the hope of snagging one of 30,000 fast passes to be issued for airport security checkpoints. The airport and Verified Identity Pass Inc,
      Reuters; REUTERS  -  505 words
    • 581 17 Reuters [LONDON] Jet fuel prices for next year are staying near record levels in Europe despite a weaker prompt market, causing pain for airlines trying to hedge fuel costs. Jet fuel prices have been weighed down this month after heavy
      Reuters  -  581 words
    • 245 17 AP [WASHINGTON] Vietnam Airlines has agreed to purchase four Boeing 787-8 Dreamliners, each valued at US$5OO million based on list prices. Boeing said the agreement also includes purchase rights for 11 additional airplanes in 2010 through 2013. The signing was witnessed by Vietnamese Prime
      AP  -  245 words
    • 1562 17 en fMBtt >MfHT PTB U08O630 SJ082 0900 USSa LH9771 IMS AFSOW 2215 *&57 1025 SQ406 1855 ***** 1R Bii D —rn\& |8;2?I3§ S0j4 Ofifi Lis 8% 1% AS«2 1450 »CL838 2255 Dhak. ***** 0550 ***** 2030 1% &Sffi SSSf. Autk d li n in i§ ii
      1,562 words
    • 252 17 Reuters [TOKYO] Soaring fuel prices will cost Japan Airlines Corp (JAL) about 45 billion yen (***** million) more than initially projected this business year if they remain at current levels, the company said yesterday. In May, JAL estimated its annual earnings based
      Reuters; AFP  -  252 words

  • SHIPPING
    • 582 18  -  Re-evaluate old thinking of free maritime safety: Nippon Foundation By DONALD URQUHART [SINGAPORE] "Traditional thinking" is no longer adequate in ensuring the safety of navigation in high risk waterways like the Malacca Strait according to the president of the Nippon Foundation
      AP  -  582 words
    • 295 18 SGX '000 time 22 S$ W- Vol CH Offshore 0.37 -0.01 124 ChuanHup 0.76 0.01 283 Cosco Corporation 1.84 0.01 4137 CWT Distribution 0.67 unch 19 Ezra Hldgs 1.17 0.01 655 Freight Links 0 08 unch 296 Grand Banks Yadit 0.96 0.01 19 Jaya Holdings 1.09 0.01 735
      295 words
    • 196 18 AFP [KUALA LUMPUR] Malaysian police have arrested a man accused of being the mastermind behind the botched hijacking of an oil tanker in the piracyprone Malacca Strait last week, reports said yesterday. The 42-yoar-pld was arreted on Monday in the capital of
      AFP  -  196 words
    • 224 18 AP [OSLO] Norway's state mapping agency was cleared of dereliction charges yesterday after prosecutors said it could not be blamed for the capsizing of a Norwegian freighter and the deaths of 18 crewmembers. Police had accused the National Mapping Authority of failing to
      AP  -  224 words
    • 377 18 Reuters [SINGAPORE] The Maritime Port Authority of Singapore (MPA) is not expected to grant new bunker fuel supply licences for the rest of 2005, extending a two-year block on new players entering the growing market, industry sources said yesterday. "The current number of
      Reuters  -  377 words
    • 223 18 Bloomberg [SAN FRANCISCO] Container shipments through the Port of Los Angeles, the busiest US seaport, fell 7.6 per cent in May as nearby Long Beach reported a 21 per cent increase. The total number of 20foot containers entering and leaving Los
      Bloomberg  -  223 words
    • 262 18 Anderimar Shipping News [LONDON] Fresh evidence of growing labour unrest hitting shipping trades is emerging, according to the Strike Club, the specialist mutual delay insurer. In the past week alone, says the club, there has been news of further serious aggravation in the very
      Anderimar Shipping News  -  262 words
  • Page 18 Advertisements
    • 66 18 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 COMPLIED? MARITEC supplies all your needs to comply with the mandatory requirement. Maritec Pte Ltd 192, Pandan Loop, #05-26/27/28
      66 words
    • 39 18 _l Get a Zxjyo? Leading Edge Your sailing schedules get wider attention J in The Business Times shipping pages I ail Joe Wong at 6319-2062 Or Bernard Ong at 6319-1645 > -f* f-.-K 'Hmgf w? h" u XT'* SiwNG Times
      39 words

  • SINGAPORE ARTS FESTIVAL
    • 586 19  -  'Impenjarament' goes beyond prison life, reports SANGEETHA MADHAVAN SANGEETHA MADHAVAN AIDLI "Alin" Mosbit, director of Impenjarament (Imprisonment), the play that Teater Ekamatra is premiering at the Singapore Arts Festival this year, expects people to react to the show in two ways. "Either the fact
      FILE PHOTO  -  586 words
  • Page 19 Advertisements
    • 1028 19 Deutsche Bank El DEUTSCHE BANK AG, LONDON BRANCH (Incorporated under the laws of the Federal Republic ot Germany) NOTICE TO WARRANTHOLDERS lb all hoMere of 80,000,000 European Style Caah Settled Call Warrants expiring on 24 October 2006 relating to the ordinary slock unite of Over—Chine- Banking Corporation Limited (OCBC 06
      1,028 words

  • EDITORIAL & OPINION
    • 551 20 EDITORIAL AFTER speculating for years that the Chinese government would be forced to float its currency because of external political and economic pressure, some analysts are now saying that it might be safer to bet on a depreciation of the yuan. It is being argued that by
      551 words
    • 854 20  -  Traditional concepts are losing their validity as the US economy is pummelled by change ROBERT SAMUELSON The Washington Post Writers Group IF economics were a boat, it would be a leaky tub. The pumps would be straining, and the captain would be trying to prevent it
      The Washington Post Writers Group; AFP FILE PHOTO  -  854 words
    • 761 20  -  THE BOTTOM LINE YOGI AGGARWAL THE world of patents and copyrights is getting more curious. With large amounts at stake, it has become a legal minefield offering rich pickings for the eventual winners. Thus just last month a rich yoga teacher based in Hollywood
      761 words
    • 1291 21  -  It must develop new products to fend off Chinese competition and retain foreign investment By WAYNE ARNOLD NYT SINCE starting Able Autopart Industries nearly 20 years ago, Yeap Swee Chuan has ridden the success of Thailand's bid to become the Detroit of
      NYT; BLOOMBERG  -  1,291 words
    • 106 21  -  Denis Distant, Singapore IN keeping with SGX rules, Vantage Corporation shares have remained suspended from trading for eight months, since it has no business but just cash and investments. However, the company is now the target of two takeover bids which changes its circumstances somewhat
      106 words
    • 368 21  -  LETTERS TO THE EDITOR LTC N Subhas Director Public Affairs Department Singapore Civil Defence Force I REFER to Leong Sze Hian's letter, "More statistics on ambulance calls, please?" (BT, June 8). The Singapore Civil Defence Force (SCDF) does not determine the fee for nonemergency
      368 words
    • 473 21  -  Lu, Kee Hong Shanghai I WAS a bit surprised by the three letters you published in response to your article "Throw off the shackles of misplaced shame" (BT, June 11). 1 think all three readers failed to seize the opportunity to raise the discussion to
      473 words

  • Page 21 Advertisements
    • 103 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletter@sph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel
      103 words
  • Page 21 Miscellaneous
    • 156 21 CRYPTIC CROSSWORD 28 Clears up links over identifi- church in unexpected exami- YESTERDAY'S SOLUTION cation (6) nation (4,5) Across: 1 Cross swords, 9 Isolate, DOWN 14 "Coronation Street" perhaps 10 Praise, 12 Egotism, 13 Adipose, appears too ridiculous with 14 Testy, 15 Dismantle, 17 Munici--2 Bird coming back covered in
      156 words

  • 10158 22 SGX MAINBOARP 52-Wk Td Last Vol Day Last Quote GfOtv Mr GrVU Nat MCap High Low Coda Qmyany Sala fCOB) Higli Low Buym Safcr N Cvr W lal 12 3 5716 1st Software 5c 4.5 unth 312 4.5 4 4 4.5 18.2 34.5 13.5 3148 8TelecomUS2c 15.5 -0.5
    10,158 words

  • 5998 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES Hi total ott to M In UM *dy %r *v v Jun 21 md»» Ch«nq« Pang* Ch«n«t Owng* Q«nq« Chang* MilfcRiMW W1 DuP It <11 15 01 44 »£AFE Preliminary 8183 03 59 02 fl< 05 V? •urope Preliminary ***** 04 7-8 03
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  • Page 24 Advertisements
    • 1248 24 ill jfHfjO^^^F K. *w 3 W'M- VW I 1 HP* EflPWn l I ■Si ii w /Q\ NYK GROUP SOUTH ASIA PTE LTD vrwrir Ap» rr V- TEL:6295 0123 XW JE JLIzNE M*9 Irn LIME Fax:6292 2856(Regionalsales)/6239 7109(OPS)/6299 5785(Documentation) NIPPON YUSEN KAISHA TOKYO «D»AKU KASHA. UD (C/RNO: **********06) ~MIH UH
      1,248 words
    • 768 24 IIKTIKASIA RQRQ SOCVKM VKSa/VOY RANPQtT) tCGHTW PKG KCH U» SW I «T STVAirS VENTURE 11/05 15 3.2 21/04 23/06 28/04 01/07 03/07 STRAITS VENTURE 12/05 15 3.2 04/07 08/07 14/07 17/07 l»/07 STRAtTS VENTURE 13/05 15 3.2 22/07 24/07 28/07 31/07 02/08 (AUSTRALIAN RORO SUVKI I VBsa/yor I ranpqcd i
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  • Page 25 Advertisements
    • 904 25 ICT AUSt SKYKt (tXPOOT) MH6AMM HISIAMt STPWfT mom* ADIUUPt SIH6AMM WMAUt STPMT MtUOWW AKUIK pi YUW HE 040S 74/06 04/07 06/07 09/07 12/07 CAIYLIH HE 061S 22/07 01/ M 09/OL_ CAP ACUIIAt 105S 01/07 11/07 IVO7 19/07 CAPAWIIAMMS W M M" !M CSCL XIAMEN 0080S 08/07 H/07 20/07 23/07 26/07
      904 words
    • 913 25 —?rGOLDEN GATE JQ2IL _28ZL JSZL_IZZ g °g* M ¥k GOIDEW TRADE 509W 5/7 6/7 8£ —ES §ST7 ffi ffi~ KUO LUNG 012N H/7 13/7 15/7 NEW DYNAMIC 09IA J.[£_ =L 1 Cafc| WE <M-S»n»i ahgbgjiNwMjtepg vtssa wyTpkg sin hkgTsha tap hsk ThT^j^_ WESTERMOOR 019E 27/6 2«/6 tf7 J/7 MX 25/6
      913 words
    • 865 25 W a<33S& WEEKLY EXPRESS SAILING SCHEDULE ALStMCCEPTING TO ALL NORTHERN AMD WEBTERN ICQ POIHTSj YKStI VOT |SW 1 P.KUNGI COLOMBO IN. SHIVA 1 COLOMBO I I AUO ACCPTMG FQ TO COCHft TUTKOWN (VIA COLOMBO) AND KAMUt SOAI (VU N SUVA) CONNKTMG MODS WIS TO HJMK (FHfICSIOWR, BOTTMAMJ HAMMM6) AND EAST
      865 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 7453 26 m VmmI Vovais* T.litmn I ETA ETA AdMltlMr Vcb*I VMa fttaphoaa eta ETA Adwrtser Vessel Tefaphon. ETA ETA fcMrttar v«£ Vjg. T£*o~ cm iw n Mjmc hmm Number Huwbtf SIN Dhtr mm MM 01/08 20/08 TASMAN TASMAN COMMANDER *****0 *****288 TO ABIDJAN (ABJ) 2003
      7,453 words
  • Page 26 Advertisements
    • 539 26 lAXA# wallenius wilhelmsen website: http://www.2wglobal.com YRSa VOY RAMP HBGHT SI UC ~MAO~ HOW "*U SAV lAI ~~OtT~ NYC WW MOO TARONGA ATSIB 3201 MS 6.25 M 20/07 10/00 19/00 24/08 30/00 20/00 TAMPERE AFSI9 4001 MS 6.30* 27/07 20/00 29/00 02/09 07/09 OS/09 TAMESIS AFS2O *****k MOM OS/OO 30/00 00/09
      539 words
    • 914 26 vtsstt vot sw ku vissa vot sw <t PACMMOA MtTN 22/06 23/06 ?K»AU 11Z1 21/06 ?3/04 nitUl 0117P n/U 7S/06 PAC WHAM 9304 26/04 78/04 SSL ?ia gg —gg- j</04 jm— fKUMk M9SN am 2*/o6 0f2301 O]W 26/06 27/06 n'llllißll lllllMf iOH ISfifiM 26/06 27/06 g£„. jfe J7/S PACIANDA ISO
      914 words
    • 412 26 BSAi MYANMA WH FIVE STAR LINE (MyaMMf NotiMol Um) Loading far Yngoa vissa vor sin pki pen pgu PAGAN 346W SID HPA-AN 337W SIS IN MALAYSIA: IOUSTIAO SHIPPING AGENCIES KUI/PKL 03-300 SUM PIN: 04-*****1S A"™ 1 ACCEPTING COMVEWTIOBAL C6O vkse vor hug sin pgu pu kuc NAPU 109 SU> SU>
      412 words


  • BizIT
    • 611 28  -  Singapore Open Source Alliance is backed by tech giants and is dedicated to promoting open-source in S'pore, says ROLAND LIM ROLAND LIM WITH the opensource movement gaining momentum worldwide, some technology giants have put their weight behind an alliance to make sure Singapore isn't left behind in
      611 words
    • 205 28 Bloomberg [TOKYO] Fujitsu Ltd, the Japanese supplier of computer servers and telecommunications equipment, plans to build the world's fastest supercomputer by the end of 2010. The new computer will be capable of as many as 3 petaflops, equal to the combined computing power of 500,000 3GHz
      Bloomberg  -  205 words
    • 178 28 Reuters [NEW YORK] Global demand for portable digital music players is expected to nearly quadruple to 104 million units a year by 2009, fuelled by falling prices, better equipment and a greater availability of legal music, according to a study released on Tuesday. Led
      Reuters; AP  -  178 words
    • 583 28 NYT [NEW YORK] Jack S Kilby, an electrical engineer whose invention of the integrated circuit gave rise to the information age and heralded an explosion of consumer electronics products in the last 50 years, from personal computers to cell phones,
      NYT; REUTERS  -  583 words
    • 301 28 Bloomberg [BEIJING] Cisco Systems Inc, the world's largest maker of computer networking equipment, says it plans to increase production in China to 40 per cent of its combined output to cut costs. Of the company's total production in 2004, 25 per cent, worth
      Bloomberg  -  301 words
    • 375 28 Bloomberg [CHICAGO] Dell Inc, the world's largest maker of personal computers, began selling the first sub-US$lOO laser printer for home and small-office users as it seeks to boost sales of more-profitable printer supplies. The US$99 laser Printer 1100 produces as many
      Bloomberg  -  375 words
    • 934 29  -  Global shipments of LCD monitors up 44% at 22.7m in the first quarter of the year, reports RAJU CHELLAM RAJU CHELLAM GROWING demand for flatscreen panels used in computer monitors, laptops, TV sets, mobile phones and other digital devices is pushing demand for LCDs (liquid crystal
      REUTERS  -  934 words

  • Page 29 Advertisements
    • 28 29 FINAL SCORE AVAYAI OPPOSITION NIL AVAYA IS NO.I IN IP TELEPHONY WINNERS OF THE 2005 FROST SULLIVAN AWARD FOR MARKET LEADERSHIP IN w I— ENTERPRISE IP TELEPHONY k
      28 words

  • PROPERTY
    • 653 30 Sales this year expected to beat 2004 record of US$15b NYT [NEW YORK] The demand by investors seeking to acquire office space in Manhattan remains intense, especially for properties in Midtown. With the first half of the year almost over, the dollar value
      NYT; AFP  -  653 words
    • 801 31  -  And it pays. Cleaning services are thriving, with more companies outsourcing, report CAROLYN QUEK and LISA TAN CAROLYN QUEK, LISA TAN THE business of cleaning in Singapore is thriving. According to the Department of Statistics (DOS), the number of firms in Singapore engaged in building-cleaning
      FILE PHOTOS  -  801 words
    • 825 32  -  COMMENTARY They identified their likeliest competitor, timed their strategy, and then made their move By KALPANA RASHIWALA WHAT would you do if you owned a great shopping mall that's pulling in the crowds and attracting high rentals and the plot next door
      825 words
    • 1148 32 Brought to you by HSBC PROJECT NAME/ PROP CONTRACT TENURE BUILT4MAN0 PRICE PSf STREET NAME TYPE DATE AREA*(SQFT) (SS 000) (SS) District 01 NON-LANDED The Sail At Marina Bay Apt 3005/2005 99 893 818 916 The Sail At Marina
      1,148 words
    • 358 32  -  By KALPANA RASHIWALA THE Hong Leong Group, which includes listed City Developments, expects to release two more residential projects before the year is out. They are the 187-unit St Regis Residences in Cuscaden Road and a 177-unit condo at Havelock Road/Kim Seng Road
      358 words
  • Page 30 Advertisements
    • 131 30 ascendas Expanding International Tech Park, Chennai, India in Asia? hF B*—i8*—i International Tech Park, Chennai 6-hectare park along Chennai's IT Corridor flj JJ^^^^^^ESSSSSSSIS Phase I: 46,000 sqm IT complex l|^| I!! i&JBJ* JMn| Brought to you by Asia's best IT park brand, International Tech Park, Chennai creates a new hip-and-happening
      131 words

  • Page 31 Advertisements
    • 150 31 II 1 ffl KXRCHER v W" W i "v" 1 H J If W v mL- X J®ONE BRAND > COMPLETE CLEANING NEEDS f E«tablished in 1935, Kftrcher is renowned for its proven German technology in manufacturing one of the JfSBBf world's most advanced and extensive range of cleaning equipment.
      150 words

  • Page 32 Advertisements
    • 40 32 801 Upper Serangoon Road Total Site Area: 46,097.9 Sq Ft Lot Nos: Mlc 22 3340 L yV\S s (Near Kovan MRJ) /X> Plot Ratio: 1.4 Storey For more details/fonder documents, pis contact Stanley Koo 9388 4785 AngefineKoh 9060 1228 ERA
      40 words
    • 141 32 HB ROBINSON 111 ROBINSON IO A D Prime office space for lease 1,700 to 8,000 sq ft 5 minutes to MOT Competitive rental Call 6748 7522 for enquiries m HO MU GROUP Got the right home? Now get the right home loan. mm Buying a house in Singapore is a
      141 words