The Business Times, 6 July 2005

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Total Pages: 32
1 32 The Business Times
  • 13 1 THE BUSINESS TIMES inline at http://business-times.asialxom.sg MICA (P) 089/03/2005 Wednesday, July 6,2005 SIN
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  • 552 1  -  Guests at Esplanade Theatre treated to a brand of S'pore entertainment few expected By JOYCE KOH [SINGAPORE] It was an extravaganza of song and dance at the Esplanade Theatre last evening as some of the world's most recognisable faces celebrated the official opening of
    CHEW SENG KIM/ST  -  552 words
  • 136 1 STI 2.222.61 (+1.45) ST INDEX FUTURES 2,225.00 (+1.00) siMsa 265.11 (+0.38) SIMSCI FUTURES ***** (+0.10) MARKETS Tuesday Change KLSE COMP 898.87 +0.18 NIKKEI 225 11,616.70 -34.85 HANG SENij 14,124.80 -53.07 SET INDEX 663.52 -6J6 JAKARTA COMP 1,131.17 -7,71 MANILA COMP 1.817.02 +135 SEOUL COMP 1,018.81 -2.9 SHENZHENS 212.54
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  • 674 1  -  By S JAYASANKARAN in Kuala Lumpur FORMER prime minister Mahathir Mohamad defended Tengku Mahaleel Ariff, the embattled chief executive of carmaker Proton Holdings, at a press conference yesterday in comments that delivered an implicit rebuke to the carmaker's board. That defence, and his implied
    674 words
  • 286 1  -  By LARRY WEE [SINGAPORE] The American dollar powered its way to fresh 2005 highs in Asia yesterday as financial markets factored in better growth prospects Stateside and wider interest rate differentials in favour of the US, ahead of what could be
    Source: Reuters  -  286 words
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  • TOP STORIES
    • 866 2  -  PFood says lower interest earned as cash was moved to short-term deposits By TEH HOOI LING [SINGAPORE] CLSA AsiaPacific Markets has raised a red flag over the cash hoard of locally-listed Chinabased pork producer People's Food (PFood), saying the company's interest
      FILE PHOTO; Source: Bloomberg  -  866 words
    • 494 2 5% drop in business bankruptcies seen FEWER than 470 Singapore businesses are likely to go to the wall this year, even though the expected slowdown in the world economy is likely to hit growth, says credit insurance firm Euler Hermes. And the 5 per cent decline in business
      494 words
    • 795 2  -  Sino Land, IOI, Wing Tai seen as potential bidders By KALPANA RASHIWALA [SINGAPORE] Interest in the mega Business and Financial Centre (BFC) site being offered for sale through a tender that closes tomorrow, seems to be hotting up, with market talk that bids
      FILE PHOTO  -  795 words
    • 592 2  -  By NANDE KHIN [SINGAPORE] After dipping iir 2002, Singapore's investments overseas grew 5.1 per cent in 2003 to end the year at $294 billion, figures released yesterday by the Department of Statistics (DOS) show. Portfolio investments accounted for 19.7 per cent of,total investments, jumping
      592 words
    • 110 2 IN the article "Singapore Inc needs an India strategy" (BT. July 4), it was reported that under an "early harvest" provision under the Comprehensive Economic Cooperation Agreement between India and Singapore, 506 items can be exported to India duty free, covering about 75 per cent of Singapore's exports to
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    • 690 3  -  Ministers told to identify, reject attempts to gain undue influence By NANDE KHIN [SlNGAPOßE] Ministers and Members of Parliament were yesterday given updated guidelines on how to conduct themselves with regard to their public positions. Prime Minister Lee Hsien Loong has revised
      FILE PHOTO  -  690 words
    • 627 3  -  By CHEN HUIFEN [SINGAPORE] Fewer than 470 Singapore businesses are likely to go to the wall this year, even though the expected slowdown in the world economy is likely to hit growth, says credit insurance firm Euler Hermes. And the 5 per cent decline
      627 words
  • Page 2 Advertisements
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  • COMPANY NEWS
    • 634 4  -  HOCK LOCK SIEW By WONG WEI KONG SHOULD corporate figures who are under investigation or have been charged continue to wield influence within a company while matters remain unresolved? It's a question being asked after what has happened at Accord Customer Care Solutions
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    • 480 4  -  Boustead awarded $6.5 m energy recovery deal By MINDY TAN RECORD high pil prices may have hit some stocks but this has not stopped some listed companies from engaging in power-re-lated deals. Colben System, a power supplies and precision gear firm and wholly
      480 words
    • 436 4  -  By VEN SREENIVASAN JURONG Engineering (JEL) has appointed PricewaterhouseCoopers (PwC) Corporate Finance to advise directors on the proposed sale of its core business to Ishikawajima-Harima Heavy Industries (IHI). Announcing this, JEL advised shareholders to "exercise caution when dealing in the shares"
      436 words
    • 238 4  -  By LISA TAN SINGAPORE Post Limited (Sing Post) and Prudential Assurance will roll out the Care for Life service at 18 more Sing Post branches, doubling the number to 36 by March 31 next year. The Care for Life service was first
      238 words
    • 288 6  -  IT-RELATED DEALS Use of mySAP solution is part of streamlining exercise Reports by WEE LI-EN MAINBOARD-listed Meghmani Organics is set to streamline all its business procedures and processes to expand its pigments and pesticides manufacturing business. Meghmani, Singapore's first Indian listing, has completed the
      288 words
    • 170 6 fcSBSDAQ-LISTED System Access has a joint venture (JV) company /"with Digital China Software (BVI) Ltd to £hmll banking software and solutions in Hdhlna. f Digital China is a wholly owned subsidiary of Hong Kong-listed Digital China Holdings, the largest IT product distributor and
      170 words
    • 184 6 Reuters HARD-DISK drive maker MMI Holdings said yesterday that it will sell its entire £5 per cent stake in Malaysian contract manufacturing group Alliance Contract Manufacturing Sdn Bhd for 8M38.5 million (5517.2 pillion). MMI declined to say who Sought the stake, but said
      Reuters  -  184 words
    • 346 6 Indonesia under M'sian unit; China under S'pore unit SINGAPORE Press Holdings (SPH) announced yesterday that its wholly owned subsidiary, SPH Magazines, has on Monday realigned its Blu Inc Group of companies. SPH Magazines and joint venture partner Simpletech transferred each of their 50 per cent
      FILE PHOTO  -  346 words
    • 243 6 Bernama [KUALA LUMPUR] Sunway Construction Sdn Bhd (Suncon) has accepted letters of award for two projects in India amounting to RM695.5 million (Ss3ll million) from the National Highway Authority of India (NHAI). The first contract worth RM411.3 million is for the completion, upgrading and
      Bernama  -  243 words
    • 103 6 Reuters [KUALA LUMPUR] Malaysia's Boustead Holdings said yesterday it had bought a 14.1 per cent stake in shipbuilder PSC Industries (PSCI) to gain control of the struggling firm. Boustead acquired the stake from state-run bad loans manager Pengurusan Danaharta Nasional for «M 25 millia»,(Ss»
      Reuters  -  103 words
    • 211 6 CAPITALAND has bought the remaining 5 per cent and now owns the entire Shanghai Xin Mao Property Development Co Ltd, through its wholly owned subsidiary, MCH Holdings (Shanghai) Pte Ltd. Capita Land yesterday announced that MCH Holdings has acquired the equity interest from
      211 words
    • 962 7  -  NEWS ANALYSIS Feathers have begun to fly in the tussle for control over the successful KFC franchise. PAULINE NG reports PAULINE NG WITH revenues exceeding RMI billion (*****.2 million), KFC Holdings Malaysia, which also controls the KFC fast food chain in Singapore, is the
      962 words
    • COMPANY BRIEFS
      • 77 7 KEPPEL Offshore Marine's (Keppel O&M) wholly-owned subsidiary in the US, Keppel AmFELS, has won two contracts worth a total of US$ 174 million from Texas-based Scorpion Offshore for the building of two rigs which are expected to be delivered in 2007 and 2008. Keppel O&M
        77 words
      • 83 7 PLASTIC injection moulding group TTL Holdings said yesterday that it had entered into a share swap agreement last Friday with Plasticos Promex USA. TTL will buy the 750,000 shares or 25 per cent that Plasticos holds in TTL Promex for $1 each. After the
        83 words
      • 80 7 DIGILAND International said its subsidiaries, Digiland Singapore and Digiland Vietnam, have been ordered by the court to be wound up. after the winding-up petitions against them were unopposed. Digiland had said in April after its subsidiaries were served the winding-up petitions by Hewlett-Packard
        80 words
      • 66 7 BROKERAGE and financial services firm Kim Eng Holdings' shareholding in ATR Kim Eng Financial Corporation has been diluted to 38.7 per cent from 39.95 per cent, as a result of the exercise of 20,259,316 ATR Kim Eng warrants by another party. ATR
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      • 80 7 ADVANCED Integrated Manufacturing Corp's (AIM) wholly owned subsidiary, Advanced Manufacturing Corporation (AMC), has signed a Memorandum of Understanding (MOU) with South Korean telecommunications company, Übiquam Co Ltd. Under the MOU, AMC will be the sole manufacturer for Übiquam's CDMA handsets. Contract values
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    • 16 6 I I iI I j^^P^^Kgni||( A f Y A WM m^m I I THE BUSINESS TIMES
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  • SINGAPORE MARKETS
    • 864 8  -  CURRENCIES The greenback looks poised for even more ambitious gains ahead LARRY WEE Senior Correspondent Round-number obstacles such as 110 yen, 1.3 Swiss francs, 70 US cents per New Zealand dollar, US$l.BO per British pound and US$l.2O per euro all fell like
      864 words
    • 505 8  -  TRADES TO WATCH Compiled by EDDIE TOH BRIGADBR-GENERAL (Retired) Law Chwee Kiat, the non-executive chairman and independent director of Linair technologies, has raised his stake to the company although the company is being investigated by the authorities. According to a disclosure yesterday, Mr
      505 words
    • Article, Illustration
      420 8 OTHER SINGAPORE INDICES Jul 5 VALUE CLOSE BT OB/OS 46.00 +53.00 BTCAP1 -*****.00 +59.00 BT 10-day MA -*****.00 +5.00 All-SG Equities 571.10 +0.89 SG Equities Elect 138.08 +0.27 SG Equities Fin 1554.33 -1.30 SG Equities Prop 575.89 +3.86 SIMSCI 265.11 +0.38 SiMSCI Futures 265.30 +0.10 MOST ACTIVE STOCKS VOLUME MMI
      420 words
    • 284 8  -  Compiled by JOYCE KOH MMI Holdings July 5 dose:: 45.S cents CREDIT SUISSE FIRST BOSTON, My 4 DIVERSIFICATION paying off: Thanks to strong demand for HDD and higher allocation from Seagate, we expect HDD components (67 per cent sales) to enjoy an 11 per cent CAGR (compounded annual growth
      284 words
    • 434 8  -  STOCKS R SIVANITHY Senior Correspondent IN contrast to Monday's action which was mainly on index stocks and oil laggards, yesterday's trading appeared to be less focused, albeit still with impressive gains for some of the day's favourites like KS Energy and Labroy Marine. Oil again
      434 words
    • 242 8  -  CHART POINT By Yeo Kee Yan, chartist at Kelive Research OVER this week, markets have digested positive ISM (Institute for Supply Management) data and news of stronger consumer confidence, lower weekly initial claims, and another round of rate hike by
      242 words

  • SINGAPORE NEWS
    • 619 9  -  Topics covered include the BFC and CPF savings, with a snap poll thrown in By ARTHUR SIM PROPERTY market professionals have put forward suggestions varying from more Central Provident Fund savings to be made available for housing to a call for a pedestrianised
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    • 314 9 NOVENA Square shopping mall is to develop into Singapore's first "sports mall", starting with its new three-storey wing. When the new wing, to be called Velocity@Novena Square, opens in November 2006, Novena Square will have 70 more shops and will spread over 200,000
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    • 553 9  -  By CHLOE CHOY SINGAPORE may have attracted world attention with its hosting of the 117 th session of the International Olympic Committee (IOC) at the Raffles City Convention Centre but some retailers are still grumbling. Shopkeepers in the Marina Bay area complained that business
      AP  -  553 words
    • 773 10  -  Last-ditch pitches made by luminaries of five cities vying for 2012 honour By JOYCE KOH THE big guns came out firing yesterday as the race to host the 2012 Summer Olympic Games comes to a climax tonight in Singapore. Some of the world's best-known
      EDWIN KOO/ST; PHOTOS BY AFP, AP, REUTERS  -  773 words
    • 289 10 LONDON'S Olympic bid committee turned on the star power yesterday evening in an all-out attempt to boost its bid to host the 2012 Olympic Games. The team presented its "athlete ambassadors" at a press conference in an effort to show the world
      AFP  -  289 words
  • Page 9 Advertisements
    • 387 9 r Q: Is it true that Private Banking is changing? A Yes. Client needs are evolving as information becomes globally available. At some institutions, Private Banking still consists of a personal banker selling mutualfunds. The Private Bankers at The Citigroup Private Bank act as global trusted advisors to many of
      387 words

  • Page 10 Advertisements
    • 1228 10 PACIFIC ANDES (HOLDINGS) LIMITED (Incorporated in Bermuda with limited liability) NOTICE IS HEREBY QIVEN that the Annual General Meeting of PACIFIC ANDES (HOLDINGS) LIMITED ("the Company") will be held at Oriental Ballroom 2, Lobby Level, The Oriental Singapore, 5 Raffles Avenue, Marina Square, Singapore *****7 on Thursday, 28 July 2005
      1,228 words

  • ECONOMY WATCH
    • 685 11 Concern over a sharp slowdown in growth seen as unfounded Reuters [SINGAPORE] Slowing exports and costlier global oil have prompted economists to trim their forecasts for Asian economic growth in 2005, but most of them say fears of a sharper slowdown are
      Reuters  -  685 words
    • 216 11 Reuters [JAKARTA] The Indonesian rupiah is undervalued and its weakness is caused by strong US dollar demand to finance oil imports, Indonesia's chief economic minister said yesterday. "Of course, it is undervalued. But now we have to talk about cash flow. Cash demand for
      Reuters  -  216 words
    • 729 11 AFP [FRANKFURT] As political pressure grows on the European Central Bank to cut its key interest rates, the International Monetary Fund entered the debate yesterday, saying there was no need to reduce borrowing costs just yet. "There is no reason (for a cut)
      AFP; REUTERS  -  729 words
    • 443 11 LATEST US DATA Bloomberg [WASHINGTON] US factory orders increased in May by the most in a year, mainly due to a surge in bookings for commercial aircraft. Demand for business equipment declined for a third month in four. Factories received 2.9 per
      Bloomberg  -  443 words
    • 496 11 Reuters [SINGAPORE] Asia's simple refining margins have turned negative and may slide further a sign that the region may struggle to deliver another year of dramatic demand growth, industry sources said yesterday. Margins for exportoriented refiners in Singapore and South Korea tipped
      Reuters  -  496 words
  • Page 11 Advertisements
    • 1034 11 K+> KING WAN CORPORATION LIMITED NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Sixth Annual General Meeting of KING WAN CORPORATION LIMITED will be held at the Board Room, 8 Sungei Kadut Loop, Singapore *****5, on Friday, 22 July 2005 at 10.00 a.m. to transact the following
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  • Page 12 Advertisements
    • 3274 12 I Notices ICICI Bank (Incorporated in India) Corporal* Office: ICICI Bank Towers, Bandra-Kurla Complex, Mumbai 400 051. India Rupee**! t»os As on At or To, 31.03.2005 31.03.2004 Tbomombors of ICICI Bank LMM CAPITAL AND LIABILITIES 1. We have audited the attached balance sheet Capital 10,867.758 9,664,012 of ICICI Bank Limited
      3,274 words
    • 1072 12 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 C C DESIGN (SINGAPORE) PTE LTD (In Voluntary Liquidation) Company Reg. No. *****2981W At an Extraordinary General Meeting of the members of C C DESIGN (SINGAPORE) PTE LTD duly convened ond held at No 63 Hillview Avenue #01-05 Lam Soon Industrial
      1,072 words

  • MALAYSIA/INDONESIA
    • 818 13  -  INDONESIA INSIGHT Challenge is to keep cost competitive, not target industries for special treatment SHOEB KAGDA Jakarta Correspondent INDONESIA last week unveiled an ambitious industrial policy that outlines the development and growth of the country's manufacturing industry over the next 20 years. While 10 years
      818 words
    • 471 13  -  By S JAYASANKARAN in Kuala Lumpur LIM Yan Hai, the former controlling shareholder of Malaysian property development and retail company Bolton, h#s reduced his interest in the business in a move that could lead to a boardroom battle. Filings to Bursa Malaysia showed that
      471 words
    • 524 13  -  Small number of companies get a large number of permits, he says By S JAYASANKARAN in Kuala Lumpur FORMER prime minister Mahathir Mohamad has highlighted Malaysia's practice of issuing car import licences to a few favoured individuals. In a press conference yesterday, Dr Mahathir
      FILE PHOTOS  -  524 words
    • NOTE BOOK
      • 87 13 Bloomberg [HONG KONG] Cheung Kong (Holdings) Ltd. a Hong Kong real estate developer owned by billionaire Li Ka-shing, said it sold 212 apartments at its legend luxury development in nine days, generating more than HK$5 billion (SS1.1 billion). The average price
        Bloomberg  -  87 words
      • 80 13 Reuters [HONG KONG] Stock listings in Hong Kong will raise US$l7.6 billion this year, an increase of nearly 46 per cent from 2004 as more mainland companies go public in the second half. PricewaterhouseCoopers said yesterday. So far this year Hong Kong IPOs
        Reuters  -  80 words
      • 96 13 Reuters [SHANGHAI] Chinas Ministry of Finance plans to issue 165 billion yuan (S$34 billion) in treasury bonds in the third quarter to fund infrastructure construction and plug a budget deficit, securities sources said yesterday. The ministry mainly plans to issue one-, two- and
        Reuters  -  96 words
    • 209 13 Reuters [KUALA LUMPUR] Malaysia's biggest power company, Tenaga Nasional Bhd, is buying struggling independent power producer Northern Utility Resources Sdn Bhd for RMI.O billion (*****.8 million), Tenaga said yesterday. State-controlled Tenaga said the cash acquisition of Northern Utility, currently in receivership, represented "an opportunistic
      Reuters  -  209 words
  • Page 13 Advertisements
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  • GREATER CHINA
    • 478 14 BEYOND CHINA Move seen as yet another failure by China firms to buy energy assets Reuters [HONG KONG/BANGKOK] China's Citic Resources said yesterday it has ended its pursuit of debt-laden Thai Petrochemicals Industry (TPI), putting a Thai government restructuring plan firmly back on
      Reuters  -  478 words
    • 222 14 Reuters [SHANGHAI] China's Merchants Securities Co Ltd has become the first mainland brokerage to win approval from Chinese regulators to buy an overseas counterpart, a report in an official newspaper said yesterday. Merchants Securities, based in Shenzhen, is to buy China Merchants Securities (HK)
      Reuters  -  222 words
    • 544 14 Reuters [SHANGHAI] Haier Group, China's biggest home appliance maker, said yesterday it is still interested in making an offer for larger US rival Maytag but has not yet decided on whether to make a formal bid. "Haier Group is very interested in
      Reuters; AP  -  544 words
    • 236 14 AFP [SHANGHAI] China's financia htd> Shanghai is on the verge o citywide blackouts with the lOtl day of a heat wave sending elec tricity usage soaring to fresh peal records, state press reported yes terday. Electricity loads in Chi na's largest port city
      AFP  -  236 words
    • 588 14  -  CHINA INSIGHT JEAN CHUA Reporter RECENTLY, the Academy of Macro-economic Research in China a think tank linked to the Beijing government said the growth of fixed-asset investment in the country in the second half of the year should slow to between 20 and 25 per cent.
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  • Page 14 Advertisements
    • 1056 14 (ly NEW WAVE \y TECHNOLOGIES LTD Company Reg. No. *****6870Z (Incorporated In The Republic of Singapore) NOTICE IS HEREBY GIVEN that the Sixth Annual General Meeting of the Company will be held at 8 First Lok Yang Road, Singapore *****1 on 21 July 2005 at 10.00 a.m. to transact the
      1,056 words
    • 480 14 FORM 69 (4) NOTICE OF DIVIDEND Name of Company HUA ANN BROTHERS PTE LTD (In Liquidation) Company Registration No.. *****1214H Address of registered office Office of the Liquidator Amount Per Centum 100.0 Full Finol or Otherwise Full Final Payment When Payable 11 July 2005 Where Payable Office of the Liquidator
      480 words

  • INDIA
    • 657 15 Boost from relaxed investment rules, but many funds still non-committal Reuters [KUALA LUMPUR] India's move to ease rules on foreign investment in a thriving property market has given hope to local developers seeking capital and expertise to become national giants. But many international property
      Reuters; AFP  -  657 words
    • 304 15 Reuters [NEW DELHI] India sate oil firms are expected toreport a steep fall in net piofit in the April-June quarter because of government controls on retail prices, officials said on Monday. India raised petool and diesel prices by about 7 per cent
      Reuters  -  304 words
    • 228 15 Reutfrs [NEW DELHI] India'4 personal computer siles rose 20 per cent in 2C04/05 to 3.63 million units (ue to strong demand from the financial, IT and teleoms sectors, the compute] hardware industry b«dy said yesterday. Apart from leading companies, small
      Reutfrs  -  228 words
    • 4 15 Source: Reuters
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  • ASIA-PACIFIC/WORLD
    • 465 16  -  Rough passage seen in Upper House for postal privatisation Bills By ANTHONY ROWLEY in Tokyo A PACKAGE of Bills to privatise Japan's vast postal savings system scraped through the Lower House of Parliament yesterday. But while the razor-thin majority of half-a-dozen votes averted a threat
      465 words
    • 474 16 Reuters. Bloomberg [TOKYO] Struggling Japanese consumer electronics mater Sanyo Electric yesterday unveiled a new restructuring plan which includes a 15 per cent reduction in its global workforce of 96,000 over the next three years. Uhder the three-year plan to restore profitability, the fompany also
      Reuters.; Bloomberg; AFP  -  474 words
    • 356 16 Tokyo wants to get preference over Beijing in project AFP [TOKYO] Japan is considering giving US$9 billion in aid to Russia to help finance a pipeline from Siberian oil fields if Tokyo gets preference over Beijing in the project, a
      AFP  -  356 words
    • 882 16 Looking ahead, analysts expect prices to flatten out and remain stagnant for a number of years NYT [SYDNEY] FOR several years, dinner party chatter here did not linger on favourite Australian subjects like rugby, cricket, sailing and surfing or even politics. No, all the talk was
      NYT; REUTERS  -  882 words
    • 398 16 Bloomberg [WASHINGTON] China's push to buy US companies such as Unocal and Maytag, while sparking a political outcry in Congress, may after all benefit the American economy. Overseas takeovers of US firms often bring an infusion of capital and
      Bloomberg  -  398 words
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  • WORLD
    • 423 17 Claims could even outstrip combined govts', insurers' payment capacities [LONDON] Insurers might be unable to bear losses from "mega-terrorism", the Organisation for Economic Cooperation and Development (OECD) was due to warn yesterday, reported the Financial Times. In some countries, claims from attacks, which
      423 words
    • 335 17 [NEW YORK] John Mack, the newly appointed chairman and chief executive of Morgan Stanley, has urged managers to seek out the best talent at rival banks to reverse the outflow of top executives the group has seen in the past three
      335 words
    • 546 17 NYT [FRANKFURT] Deutsche Telekom Europe's largest and, recently, least adventurous telecommunications provider is once again said to be thinking of selling its T-Mobile USA business. It might be because T-Mobile has become a laggard, one that so far has held up
      NYT; BLOOMBERG FILE PHOTO  -  546 words
    • 417 17 NYT [LA PAZ, Bolivia] With prices of crude oil and natural gas at record highs, and ideology increasingly propelling government policy makers, energyrich countries are squeezing energy companies like never before. In some cases, they are unilaterally cancelling long-term contracts that gave energy
      NYT  -  417 words
    • 360 17 AFP [LONDON] US President George W Bush described the Kyoto Protocol as a "lousy deal" for the US economy in an interview broadcast on Monday, turning up the heat on British leader Tony Blair, who hopes to reach an accord on climate
      AFP  -  360 words
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  • AVIATION
    • 614 18  -  KL keen on AirAsia taking over less profitable MAS domestic routes By VEN SREENIVASAN [SINGAPORE] Expansion of its overseas route network seems to be paying off for Malaysia Airlines. The Malaysian national carrier, which is facing intense competition on its
      BLOOMBERG  -  614 words
    • 357 18 Bloomberg [HONG KONG] China Eastern Airlines Corp, the nation's third-biggest carrier by sales, said shareholders approved plans to sell short-term bills to increase its cash, buy new aircraft and acquire assets from its parent. The airline won approval to sell as much
      Bloomberg  -  357 words
    • LOG BOOK
      • 108 18 Reuters [BRUSSELS/FRANKFURT] Deutsche Lufthansa won conditional approval from the European Commission (EC) yesterday to buy Swiss International Air Lines, ending three years of independence for the money-losing Swiss carrier. But the two airlines have had to agree to give up some take-off and
        Reuters  -  108 words
      • 87 18 Bloomberg [JAKARTA] PT Garuda Indonesia and PT Merpati Nusantara Airlines, Indonesia's two biggest state-owned carriers, are reporting slumping sales amid surging fuel prices and competition with low-fare airlines. Garuda, Indonesia's biggest airline, had an operating loss of 445 billion rupiah (5576.5 million) in the
        Bloomberg  -  87 words
      • 63 18 Bloomberg [SINGAPORE] Tiger Airways Pte, a discount carrier partly owned by Singapore Airlines Ltd, said Singapore aviation authorities have granted the airline permission to start flights daily to Cambodia. Tiger Air, which said last month that it will acquire eight Airbus SAS*
        Bloomberg  -  63 words
    • 846 18 Record demand as summer travel season kicks off, boosting ticket prices for international travel NYT BATTERED by brutal fare competition and ever-higher oil prices, major US airlines have found a valuable antidote: carrying passengers overseas. International flights are in record demand as the summer
      NYT  -  846 words
    • 385 18 AIRLINE CODES: AA: American Airlines (AAL), AF Air France (AFR), AI: Air India (AK), AY Finnair Oy (FIN), AZ: Alitalia Airlines (AZA),BA: British Airways Public Ltd Co (BAW), BG Biman Bangladesh Airlines (BBC), BI: Royal Brunei Airlines Sdn Bhd (RBA), BO Bouraq Airlines (BOU), BR EVA
      385 words
  • Page 18 Miscellaneous
    • 207 18 CRYPTIC CROSSWORD 1 Exact betting Eric loses heart if in charge (8) 15 Marvellous to first make mis- YESTERDAY'S SOLUTION 2 Cabaret I find is full of germs take jf njce hearted (8) Across: 7 New castle, 8 Month, 10 3 Old country loses its head for 16 Return of
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  • SHIPPING
    • 529 19  -  Last week's EU ministers' meeting should not be seen as final victory: ICS By DAVID HUGHES in London THE International Chamber of Shipping (ICS) has warned shipowners that the fight to stop the European Commission from getting a
      529 words
    • 69 19 [YICHANG, China] Barges navigating through the ship lock of the Three Gorges Project on the Yangtze River in Yichang, central China's Hubei province, on Saturday. The two-way five-step lock, which features a two-way lifting facility for the 113-metre drop between the upstream and downstream separated by the gigantic
      AP  -  69 words
    • 560 19 Move follows hijack of tsunami relief vessel by pirates AFP [NAIROBI] The UN World Food Programme (WFP) on Monday suspended all shipments of aid to Somalia pending the release of a ship carrying tsunami relief that was hijacked by pirates last week off the
      AFP  -  560 words
    • 281 19 Bloomberg [LONDON] National Grid Transco pic, the natural gas pipeline manager, said the first liquefied gas shipment to the United Kingdom in 15 years arrived at its new Grain terminal at 9:35 am London time on Monday. Liquefied natural gas (LNG) is
      Bloomberg  -  281 words
    • 202 19 Reuters [SINGAPORE] Marine fuel sales in Singapore fell in May from April but were up 5.3 per cent from a year earlier, government data showed yesterday. May marine fuel sales came to 2.081 million tonnes in May, down 3.3 per cent from
      Reuters  -  202 words
    • 286 19 SGX '000 ms s> vol CH Offshore 338 0.01 2641 ChuanHup. .0.77 -0.01 405 Cosco Corporation .2 01 0.04 ***** CWT Distribution 337 unch 0 Ezra HkJgs US 0.03 1286 Freight Links. 0.08 unch 505 Grand Banks Yacht .0.97 unch 0 Java Holdings 1.10 0.01 343 K1 Venture
      286 words
    • 807 19  -  STRAIT TALK By DAVID HUGHES LAST week, there was something of a fuss when DNV Petroleum Services (DNVPS) issued a circular saying that marine fuel with over 4.5 per cent sulphur content had been supplied, in contravention of new International Maritime Organization (IMO) regulations. The Maritime
      807 words
    • 237 19 Xinhua [DHAKA] The presence of a naval base and the zigzagging course of the Chittagong port channel in Bangladesh are the main reasons for accidents, ship operators said. The navy installation has made movement of ships through the channel more difficult, as the winding
      Xinhua  -  237 words
    • 130 19 Reuters [BAKU] The largest Caspian shipping firm, Azeri stateowned Caspar, raised crude and oil product shipments by 3 per cent in the first half of 2005, down from 5 per cent in the whole of 2004 and 16 per cent in the first half
      Reuters  -  130 words
  • Page 19 Advertisements
    • 79 19 TUVALU SHIP REGISTRY j QU.ALITY SERVICE QUALITY FLAG 1. Low taxes 4. Active role and representation in IMO 2. Agreement* with lACS members 5. Worldwide network of surveyors 6 No restriction on nationality of ownership 3. Accedes to latest international 7 Tuvalu is a party to the STCWI97B conventions end
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  • EDITORIAL & OPINION
    • 549 20 EDITORIAL TWO weeks ago, the US Conference Board reported that its May index of leading economic indicators (LEI), which is supposed to forecast economic trends 6-9 months in advance, fell by a bigger-than-expected 0.5 per cent. It was the fourth decline in five months, the ninth
      549 words
    • 1105 20  -  Washington's relations with India, Pakistan and Iran weigh heavy over the US$22b deal ASHOK KUMAR In Mumbai INDIAN Petroleum Minister Mani Shankar Aiyar has been working round the clock to close a US$22 billion deal on the India-Iran gas pipeline, which will run
      AFP FILE PHOTOS  -  1,105 words
    • 725 20  -  THE BOTTOM LINE FRANK CHING PRESIDENT Hu Jintao, in an official visit to Moscow from June 30-July 3, strengthened Sino-Russian political relationship by signing with President Vladimir Putin a joint statement on the international situation in which the two countries expressed similar views
      725 words
    • 1353 21  -  Think again. China is still at the low end of the world's production chain and Chinese companies still lack experience in international operations By TIGER TONG THE US$lB.5 billion bid for Unocal, a US oil company, by CNOOC, the third largest oil producer
      BLOOMBERG FILE PHOTO  -  1,353 words
    • 700 21  -  China's economic expansion is forcing it to scour the globe to secure energy resources for future needs By DIANA CHOYLEVA RECENTLY, there have been a plethora of articles with titles like "The Chinese Challenge" and "China Economy Rising at Pace to Rival US". But
      AFP  -  700 words
    • 289 21  -  LETTERS TO THE EDITOR Tan Kok Tim Singapore I REFER to the report, "Profits at risk if oil hovers at US$6O" (BT, July 4) and the worries of high oil prices slowing down the world economy, driving up prices and eroding profits. When that happens,
      289 words
    • 82 21  -  Leong Sze Hian, Singapore I REFER to the article, "Investing surplus cash" (BT, Jun 7). Companies planning to invest their surplus cash may be interested to know that the Foundation for Fiduciary Studies and the Centre for Fiduciary Studies at the University of Pittsburgh's Katz School of
      82 words


  • 2448 22 SGX XTRANET Td Lact Vol Day Last Quote GrDrv Div GrYM Net MCap Wgti low Code Company Sate COOO) High Low fciyr Sdter Cvr WE hnS ********** 6065 Diamonds US*****cd 6095 IS DJ US Tech US3740 6097 IS MSCI Spore US555 6101 ISS&P500 US8270 ********** 6170 SPDRS US*****
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  • Page 22 Advertisements
    • 46 22 jSSfc iUDEMARSPIGUET Le maitre de I'horlogerie depuis 1875 f m Sole Cortina watch y 541 Orchard Road #17-00 Liat Towers Singapore *****1. Tel: 6238 6678 Fax: 6238 6676. Espace Boutique Millenia Walk Tel: 6339 1728 internet: http://www.audemarspiguet.com Paragon Tel: 6235 0084 Raffles City Tel: 6339 9185
      46 words

  • 3405 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local cwT In S$ In USS dy %yr dy yr dy Syr Jul 4 Index Change Change Change Change Change Change World Index Preliminary 876.6 0.1 2.8 0.1 1.8 0.0 -1.9 tEAFE Preliminary 829.0 03 73 0.0 04 -0.1 -33 Europe Preliminary
    3,405 words

  • Page 24 Advertisements
    • 1249 24 NYK GROUP SOUTH ASIA PTE LTD \r —'a Vflfr EM'rG V T8j*****123 Hi JL JIbUNE Kgg&d! A XI LINE Fax: 6292 2856 (Regcnal sales) 6239 7109 (OPS)/ 6299 5785 (Documentation) 11 NIPPON YUSEN KAISHA TOKYO SD»AKU KASHA, no (C/R NO: **********0E) Anson ilouMi *****1 wv^v.^«oator4ioes.corn Europe Na-San Mm A* Sh^T^d
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    • 842 24 I INTIBASIA BOKO HKVKI VKSa/VOT IAWgI) HBGHIf) W6 KM Id SW KJ STRAITS VENTUKIJ/05 IS 3.2 77/06 73/06 W/06 02/07 04/07 STIAITS VEMTUKI4/05 IS 3.7 N/07 01/07 14/07 17/07 11/07 |smmvnmittis/os is 3.2 77/07 24/07 a/07 31/07 02/06 j I AUSTRALIAN BORO SltVKf vpsa/voY |Mwrpg)|wGMnm| m Isw ijkt «i std
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  • Page 25 Advertisements
    • 1586 25 www.homburßsud.com H AUSE SERVICE (EXPORT) ru JB jgwgg wismne sypmey sbBBBL AjgAgj Singapore wisum Sydney mujourni adbaipe CSCL XIAMfN CMOS M/ 07 11/07 70/07 73/87 tt/07 CSCL HAMO OOlfl OVW 15/ M 17/01 M/M 23/01 SCOTIA 019S IS/07 75/07 77/07 30/07 02/01 SCOTIA QMS 1V0» 22/04 24/01 77/01 30/01 CAIYUH
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    • 1293 25 VBSa VOY SIN JKT HKG KHH INC ICYH PUS VESSEL VOY SIN JKT SUB HKG USN PUS HY PROGRESS 098S 14/7 14/7 21/7 23/7 25/7 Vfl 27/7 KMTtULSAH SI4S 10/7 13/7 M/ 7 U/7 23/7 24/7 HYWIPGE M7S 21/7 23/7 28/7 30/7 1/1 3/8 3/1 KMTC SINGAPORE SIOS 17/7 20/7
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    • 949 25 WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS VtSStl VOY SW P.KIANO COLOWO H. SHfVA COtOWO Mmm JIO9W MJIIL_P!I HJL njH pi MJiIM MUILUII LZJIIi ILUII 18 JUL 21 JUL I PACIFIC QUEST MOW JLUIL IUUI 2ZJIIL 2&JIU 2LHII muat YPVW67 25 JUL 26 JUL
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  • Page 26 Advertisements
    • 987 26 IAUf WALLENIUS WILHELMSEN website: http://www.2wglobal.coin VESSEL |VOY I RAMP I HEIGHT I SIN IK MAO HOW MM SAY Ml ORF HYC NEW MOI TARONGA AfSlI 3201 MS 6.25 M I 22/07 12/01 21/08 26/06 31/08 29/01 I TAMPERE AFSI9 400TMS 6.30 M I 26/07 20/08 29/08 02/09 07/09 05/09 jAIYOHA
      987 words
    • 122 26 Wl VASCO MARITIME PTE LTD. OFFERS WEEKLY CONTAINERISED SERViaS FROM SINGAPORE/MALAYSIA/INDONESIA TO NDIAJISC) NHAVA SHEVA, MUMBAI, KANDLA, CHENNAI, lALCUTTA ALL ICDS •AKISTAN KARACHI INLAND SECTORS, ALSO SERVING AFGHANISTAN ARABIAN OULF (AOX) DUBAI, ABU DHABI, SHARJAH, lAHRAIN, DAMMAM, BANDAR ABBAS KUWAIT SOUTH EAST ASIA (INTRA TRAD!) P. KLANG, PENANG, PASIR 3UDANG,
      122 words
    • 1207 26 VtSSfl VOY SjN PGU VKSfI. VOT SIN PAC PANDA 1506N 05/07 05/07 PACINIAN 9305 03/07 ***** fflWI 2142 05/07 Q»/»7 ffiMU 4173 05/0 ~MZZ PAC lANDA *****1 06/07 07/07 PACOINTAN 9306 10/07 12/07 «F 2301 0143P 07/07 09/07 -1&MW& urn mi 99/97 MUMTMrnIBIi JKMim urn sszfiz n/oy CSf 2301 0144P
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    • 206 26 Unor brookbullc —rvk. S.I. A*to/USA vk. vma SPECIALISE IN HKAVY LIFTS A PROJECT CARGO SMGAFOtI Dtrthrt- Calcutta ■VOCUNOUS 11/17 l«kfc| iv|Mf for lay W tafd ■Hi Dwttoha Mumbai MV MDUSTtIAL CBffWY 10/07 Ml« prt mfm hr Mi pan Oban parti in USA Mauuco, Carribtan A South America an inducement. fINOAPOM
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    • 681 26 BSA x "IHsf e l!s?s!TVsWr^sVßH^^^ MYANMA n FIVE STAR UNE (Myanmar National Uwe) Loading for Yang oh VESSEL VOY SIN PEL PEN PGU PAGAN 348W SU> PAGAN 349W 13/07 IN MALAYSIA: IOUSTEAD SHIPPING AGENCIES KUI/PKL 03-300St3U PEN: 04-*****15 ACCEPTINB CONVENTIONAL C6O VESSEL VOY HKG SIN PGU PU KUC JACARANDA Aa
      681 words

  • THE BUSINESS TIMES SHIPPING TIMES
  • Page 27 Advertisements
    • 526 27 Guaranteed Sailing! I Service from Singapore to: I Los Angeles Keelung I Mon cut-off. Consol. I 14 days transit. Mon d Thurs cut-off I HUB MARINE PTE LTD BOOKING: *****379/716 MAINLINE: *****866 FAX: *****066 OPR CODE "DZ" CR NO **********0Z MARKETINO SALES: KELVIN CHUA: *****636, MEUNA LEE: *****187 PTKIANO STOBK
      526 words
    • 512 27 FREIGHT LINKS EXPRESS PTE LTD 51 Penjuru Road, 3 Level, Freight Links Express Logisticentre, Singapore *****3 ATTRACTIVE RATES TO: 'J ALEXANDRIA GENOA KEELUNG KAOHSIUNG IE HAVRE MALTA MAHE MARSEILLE fci CEBU DALIAN HONG KONG JAKARTA IKj J. OINGOAO SHANGHAI SURABAYA J *****494/5506/5535/5541/5553/5561/5551/5569/5545/5510/5560/5508/5578/55M/5563 PROJECT ft HEAVYUFT CARGO Lowrene Lim TEL *****555,
      512 words
    • 61 27 CONFER (S.EJL) fISH SHIPPING PTE LTD TEL: *****868 FAX: *****245 DIRECT CONVENTIONAL SERVICE TO CHITTAQONG VESSEL SIN CTG EMERALD 15-16 JULY 21-25 JULY PWBCT FCCn-CUCOWVPmOWAL «g»VICg» TO>Indtan Sub-Conlnert: Mklvb, CatcuCa. Bombay. Karachi. Colombo Ch<tagong Tuioorfn, Cochin Far Eaet HoCNMnh,Hefjhonp.Hon^ong.Mania,Ben^ook,Bueen FCULCL torvlcoa Tot Auttafea Sydney. Mtfcoums Europe Fefeeflowe, Bramerhaven. Hamburg. Antwerp.
      61 words
    • 441 27 H|H||HnGaiSl(Y 297N 05-06/07 17-14/07 1920/07 1 BWlffifll TIGER WAVE 298H 09 10/07 15-17/07 23-24/07 HUiMNIfIIIGER PEARL 299N 12 13/07 1921/07 26-27/07 KQTTn TIGER SEA 300N 14 17/07 22 24/07 30-31/07 TIGER SKY 301N 19-20/07 26-21/07 02-03/00 30? N 23 24/07 29 31/07 06-07/00 J »i!!rrT7i!lawiimu< 318 10-11/07 n-70/07 tt-29/07 w
      441 words


  • MOTORING
    • 565 29  -  Former sells more than 13,000 units while latter managed about 9,000 By SAMUEL EE THE first quarter of 2005 saw Nissan overtaking Hyundai to regain the No 2 spot it had ceded to the latter in 2004 and now, at the half-way
      565 words
    • 424 29  -  By SAMUEL EE THE first half of 2005 has seen one marque jump two positions higher in the sales rankings Kia. At the end of 2004, the Korean make was sitting at the No 8 spot with 3,021 passenger car sales for a
      424 words
    • 34 29 UNIT TRUSTS FUNDS LEGEND:All prices are indicative;Broadly Diversified; Narowly Focused;$ Lower Risk;^ Low to Medium Risk;& Medium to High Risk;** Higher Risk;open-ended;+Before subdivision of units;After subdivision of units;SP after stock split N.A-Non Dealing Day
      34 words
  • Page 29 Advertisements
    • 26 29 PIMCO Global Real Return Fund a fund that is hedged against global inflation. Allianz (jfi) I Rated 5-star by Mercer Investment Consulting Global investors company I9WO/I6S/
      26 words

  • EXECUTIVE MONEY
    • 365 30  -  By Chua Boon Lee Standard Poor's Associate, Fund Services STANDARD Poor's global funds team based in London recently undertook a study on the effect of si2e of an investment team on the eventual performance of a fund in a given sector. S&Fs fund evaluation process concentrates
      365 words
    • 959 30  -  Correctly anticipating the impact of news, rather then the news itself, is a needed skill MONEY MATTERS MICHAEL PREISS AS we contemplate the investment outlook for the second half of the year, it pays to look back and remember that financial markets have an incredible capacity
      959 words
    • 830 31  -  PHILIP LOH looks at why people can't bring themselves to sell their losing investments PHILIP LOH Deciding to buy a stock or fund is always easier than deciding to sell. This is particularly true if the investment is a loser. But selling at the right
      830 words
    • 1264 31  -  YOU THE TAXMAN CHONG LEE SIANG and POK SOY YOONG examine the tax risks of investing abroad CHONG LEE SIANG, POK SOY YOONG By ERNST YOUNG THESE are exciting times. And trying times, too. The taxation landscapes in Asia are fast changing. In one
      By ERNST & YOUNG  -  1,264 words
    • 1156 32  -  That's one of the investing principles trading coach Mirriam MacWilliams teaches. GENEVIEVE CUA finds out more about her investing methods GENEVIEVE CUA AT a dinner party at the height of the dotcom rage, trader and trading coach Mirriam Mac Williams recalls meeting an accountant
      ARTHUR LEE  -  1,156 words
    • 368 32  -  Mirriam MacWilliams trader and trading coach EVERY year that ended in 5 has been a year when the market closed up. That's why sentiment now is extremely bullish. People would rather put a gun to their head than miss out on a market
      368 words
  • Page 30 Advertisements
    • 2249 30 i > f '1 SUPERIOR FASTENING TECHNOLOGY LIMITED NOTICE IS HEREBY GIVEN that the Annual General Meeting of Superior Fastening Technology Limited (the "Company") will be held at Con naught Room (Level 2), Carlton Hotel Singapore, 76 Bras Basah Road, Singapore *****8 on Friday, 29 July 2005 at 9:00 a.m.
      2,249 words
    • 59 30 An established/diversified business group with interests in sugar/beverages industry, power, hotel projects/real estate is seeking foreign/NRI investors for large commercial projects including hotel and commercial/residential complexes in two msgor metropolitan cities in South India. Interested investors may please write to: Supoma Projects Re Ltd, 3 Shenton Way #10-07 Shenton House
      59 words

  • Page 31 Advertisements
    • 1102 31 AZEUS SYSTEMS HOLDINGS LTD. (the "Company") NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be held at 2.30 p.m. on Friday, 29 July 2005 at Ballroom 4, Level 2, Sheraton Towers Singapore, 39 Scotts Road, Singapore *****0 to transact the
      1,102 words

  • Page 32 Advertisements
    • 147 32 Europe T%sia jg&Tpatent It's PATENTIy Clear! *0 nformation Patent Information Co n^erence for better IP Management Europe Asia Patent Information Conference (EAPIC) 2005 31 August 2 September 2005 Singapore, Suntec International Convention Centre R&D managers, IP professionals, company directors, investors can all obtain insight into the various facets of IP
      147 words
    • 19 32 Recruit the one you want for any position you have Coll **********2 or email rtcrtMt@sph.comsg for your recruitment solutions
      19 words
    • 73 32 MONEY MATTERS Uncertain cause and effect in financial markets PG3O Various plot sizes Suitable for: high-tech manufacturing test labs -R&D product design development computer centres data processing/financial backroom operations software development IH industrial training Proximity to Singapore EXPO, EXPO MRT Jfmm station and Singapore Changi Airport For more information, please
      73 words