The Business Times, 30 August 2005
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2005-08-30
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The Business Times
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Title Section17 2005-08-30 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asia 1 .com.sg MICA (P) 089/03/2005 Tuesday, August 30,200517 words
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Article, Illustration112 2005-08-30 1 AP. Reuters [NEW ORLEANS] The price of crude oil futures briefly surged past US$70 a barrel for the first time* yesterday as Hurricane Katrina raced towards the heart of US oil and refinery operations in the Gulf of Mexico. The hurricane has shut downAP.; Reuters; AFP - 112 words
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450 2005-08-30 1 VEN SREENIVASAN - Class-action members may move for winding-up if payment is not made By VEN SREENIVASAN [SINGAPORE] Raffles Town Club Pte Ltd yesterday failed to meet the deadline to pay $10 million to a group of members awarded $15 million following their class-action suit450 words
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941 2005-08-30 1 KALPANA RASHIWALA - Consultants expect increases to reflect rising prices of land deals in past six months By KALPANA RASHIWALA iSlNCjArUnnj Property consultants believe development charge (DC) rates will see some of their biggest hikes in five years, especially those covering commercial and residential use. They941 words
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Page 1 Advertisements
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Advertisement40 2005-08-30 1 «j SME SPOTLIGHT JP Nelson spreads ,-if 7 J <v > P6ll CORPORATE NEWS Heshe draws up newroadmap PQ 5 MORE REPORTS Petrel prices up 9 cents PG 8 Oil surges past US$7O PGI2 111! 8 r BB7lBr*****4 Mflrkrtf DlffMtOfiPf 240 words
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Advertisement46 2005-08-30 1 PROPERTY Architect Toyo Ito on Vivocitys design PG 28 J* f S V COMMENTARY Will Creative play its card right this time? PG4 DANIEL ROTH MASTERPIECES IN THE AR T OF W4'( H W A i>i Mi G fi 'A THE HOURGLASS «rt"« vis ir "<V46 words
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TOP STORIES
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Article569 2005-08-30 2 Powerful hurricane threatens to swamp New Orleans HURRICANE Katrina slammed into the Louisiana coast yesterday with 224 km per hour winds as the powerful storm came ashore from the Gulf of Mexico and took aim at low-lying New Orleans. It threatened to swamp the historic city of New569 words
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Article, Illustration524 2005-08-30 2 DANIEL BUENAS - Hng Kiang, Rafidah agree on need to liberalise Asean's services sector Reports by DANIEL BUENAS [SINGAPORE] Singapore and Malaysia can work together to advance efforts on trade liberalisation and regional economic integration, the two countries' trade and industry ministers said yesterday. Speaking atTAN SUAN ANN/ST - 524 words
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356 2005-08-30 2 [SINGAPORE] Malaysia's International Trade and Industry Minister Rafidah Aziz, who has been embroiled in a raging controversy over car-import approved permits (APs), yesterday said her ministry was looking at correcting flaws in the process and would take those who abuse the system356 words
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Article136 2005-08-30 2 sn 2,272.00 (-14.55) ST INDEX FUTURES 2,272.00 (-15.00) SIMSCI 269.36 (-1.73) SIMSCI FUTURES 269.10 (-2.40) MARKETS Monday Change KLSECOMP 911.85 -6.53 NIKKEI 225 12.309.83 -129.65 HANG SENG 14,836.97 -145.92 SET INOCX 691.33 -4.56 JAKARTA COMP 994.77 -54.10 MANILA COMP Closed SEOUL COMP 1.063.16 -2339 SHENZHEN B 214.70 -3.18136 words
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Article, Illustration545 2005-08-30 3 New Orleans expected to suffer severe and extensive flooding AFP. Reuters. Bloomberg [NEW. ORLEANS] Hurricane Katrina slammed into the Louisiana coast yesterday with 224 kph winds as the powerful storm came ashore from the Gulf of Mexico and took aim at low-lying NewAFP.; Reuters.; Bloomberg; AFP - 545 words
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Article, Illustration811 2005-08-30 3 VEN SREENIVASAN - COMMENTARY Opening up the Chennai, Mumbai and New Delhi sector, which accounts for two-thirds of traffic, is one obvious area for future negotiations VEN SREENIVASAN Senior Correspondent FREQUENT travellers to India will no doubt welcome the fact that Singapore811 words
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Advertisement217 2005-08-30 2 Southern Illinois University nil «SSp Carbondale, USA "B*3l Congratulations to Our outst3nding MBA Grsdufltcs Degree Ceremony presided by H|||||i||Hg|i|||||fl| vj| Dr. David Wilson, Associate Dean and Director t i Graduate School Dr. Richard Rivers, Director of International Programs Associate Dean, College of Business and Administration at Grand Copthome Hotel September217 words
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Advertisement30 2005-08-30 2 BT ONLINE Access to BT Online is free after 6pm each day. But print subscribers can access our online news anytime. Call 6388-3838 to subscribe and activate your online account30 words
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Advertisement40 2005-08-30 3 JL (p v I I m I j3m H H I Bfe I I M m *i*J 5 ■.'h-.« PEHH M tftfflflttifes i i 11 i —i tMl... nil SI •> mmmHHIHHIHHI wrff MMMaf4 > .®8p v N flU 9HHII ■HSS&J* ;y-v-40 words
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COMPANY NEWS
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Article, Illustration395 2005-08-30 4 JEAN CHUA - Earnings surge to $67m as revenue swells 29% By JEAN CHUA AGRICULTURAL commodity supplier Olam International listed on the mainboard early this year yesterday reported a 39 per cent jump in full-year profit to $67.03 million as revenue rose 29 per centFILE PHOTO - 395 words
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403 2005-08-30 4 CHUANG PECK MING - By CHUANG PECK MING 810-TREAT Technology, a Chinese biotechnology company listed on the Singapore Exchange, yesterday reported a 30 per cent jump in net profit to RM8327.6 million (5567.8 million) for the year ended Jiine 30 thanks largely to a 49 per cent increase403 words
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Article667 2005-08-30 4 ROLAND LIM - HOCK LOCK SIEW By ROLAND LIM AT THE regional launch of his latest line of sound cards last week, Creative Technology founder Sim Wong Hoo made bold declarations about the Xtreme Fidelity (X-Fi) technology behind them. "X-Fi is going to be everywhere in MP3 players,667 words
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204 2005-08-30 5 LASSETERS International Holdings, a Sesdaq-listed gaming company, has hit the acquisition trail again. In its latest move, Lasseters* wholly owned subsidiary Lasseters Hotel (NSW) has entered into agreements to acquire 100 per cent interest in five hotels in and around Sydney's central204 words
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Article, Illustration459 2005-08-30 5 JEAN CHUA - Former clothes maker moving into electronics after loss almost doubles By JEAN CHUA AFTER years of being known as a clothing company which dabbles in property investments, Heshe Holdings has decided to turn itself into something else very- different an electronics manufacturer which alsoFILE PHOTO - 459 words
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Article, Illustration353 2005-08-30 5 RONNIE LIM - By RONNIE LIM SESDAQ-LISTED Ausgroup which specialises in oil platform fabrication and extreme cold/heat insulation, including for LNG and aluminium plants is counting on upcoming deals in Batam and Vietnam to raise its Asian profile. The opportunities arise as Australian customers like Woodside PetFoleum and353 words
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378 2005-08-30 5 AMIT ROY CHOUDHURY - By AMIT ROY CHOUDHURY SUNNINGDALE Tech, the entity merged from Tech Group Asia and Sunningdale Precision Industries, yesterday reported a 32 per cent drop in fourth-quarter net profit despite a 22 per cent rise in turnover as a host of factors eroded its gross378 words
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Article148 2005-08-30 5 CHIP tester Global Testing Corporation has become the latest donor to the Singapore Exchange's Bull Run 2005. Pledging $100,000, the newly listed firm has made its debut here with a bang. "At Global Testing, we believe in doing our business and living our lives with148 words
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Advertisement260 2005-08-30 4 .1 r '7£» ssm n' fJ- a I major SirrgajJore-based steel distributor -ftat supplies a wide range of steel products f| jr > Xnd provides value-added steel processing ASIA enterprises holding limited parvlees to industrial end-users in Singapore (incorporated in Singapore on 20 January 2005 End the Asia-Pacific region. wi,n260 words
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Advertisement238 2005-08-30 4 Ip^ Q/jb 0f Four Seasons Hotel Singapore coac fFeel the stress of the business day melt away. Be embraced by supreme comfort and quiet elegance, knowing your special needs will be met even before you ask. For further soothing of body and soul, immerse yourself in the refreshing pool. Or238 words
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Advertisement163 2005-08-30 5 1 --'V' storeys above living to soaring new heights. I home in this upscale neighbourhood, i I h N BTS shopping, dining and nightlife, 11 easy access spa I Relax in luxurious i iteric rs with I and the majestic Chao Phraya River from every apartment. I at the top163 words
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SINGAPORE MARKETS
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Article, Illustration547 2005-08-30 6 VEN SREENIVASAN - STOCKS Investors take to sidelines to await news of impact of hurricane Katrina on Wall Street and the oil market VEN SREENIVASAN Senior Correspondent MARKET sentiment was dragged down as US oil prices rose to new record levels as that country braced for aSource: Bloomberg - 547 words
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TRADES TO WATCH
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402 2005-08-30 6 US fund manager, The Capital Group Companies, has become a substantial shareholder of Wing Tai Holdings, raising its deemed stake in the property-based group last Thursday from 4.877 per cent to 5.156 per cent. The higher stake came from an open-market purchase of 2402 words
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91 2005-08-30 6 CHUANG PECK MING - Compiled by CHUANG PECK MING US fund manager, The Capital Group Companies, bought 14,935,000 shares of Bio-Treat Technology in the open market last Wednesday to up its deemed stake in the China-based biotechnology company to 6.6284 per cent from 4.8978. It paid $0.945891 words
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Article, Illustration432 2005-08-30 6 OTHER SINGAPORE INDICES Aug 29 VALUE CLOSE BT OB/OS -165.00 +39.00 BT CADI -*****.00 -169.00 BT 10-day MA -*****.00 -17.00 AH-SG Equities 581.85 -4.79 SG Equities Elect 136.98 +1.47 SG Equities Fin 1633.16 -8.84 SG Equities Prop 643.75 -11.86 SIMSCI 269.36 -1.73 SiMSCI Futures 269.10 -2.40 MOST ACTIVE STOCKS VOLUME432 words
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Article, Illustration906 2005-08-30 6 UMA SHANKARI - Compiled by UMA SHANKARI Raffles Education Aug 29 dose: 84 cents' CLSA. Aug 26. 2005 RAFFLES Education (RLS) reported stroi|g FYOS results. Q4 revenue (+IM per cent year-on-year) was boosted by a $9.5 million contribution from subsidiary Kvß's operations. Earnings 7. per cent ahead of our estimates onSource: Bloomberg - 906 words
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Article, Illustration541 2005-08-30 6 CURRENCIES Reuters [LONDON] The dollar pared early losses yesterday as oil prices retreated from record highs, but the yen suffered as support for Japanese Prime Minister Junichiro Koizumi slipped ahead of next month's polls. Expectations that the jump in oil prices above US$7O aReuters; AFP - 541 words
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COMPANY NEWS
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Article, Illustration328 2005-08-30 7 RACHEL LIN - By RACHEL LIN FLAGSHIP products such as bottled bird's nest proved to be a great tonic for Eu Yan Sang International. In what is typically a seasonally weak quarter, the traditional Chinese medicine (TCM) and healthcare group achieved a 26 per cent riseARTHUR LEE - 328 words
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233 2005-08-30 7 RACHEL LIN - By RACHEL LIN STRATECH Systems has rehired three members of senior management in an effort to reinforce its global position and to stay in the forefront of the security technology market. Besides taking three new professionals on board last week, Stratech233 words
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464 2005-08-30 7 UMA SHANKARI - JV will open 6 stores in 6 months there; Vietnam to be next stop By UMA SHANKARI FASHION retailer FJ Benjamin is looking to expand its presence across the world. First stop will be Thailand. The company has entered into a joint venture464 words
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COMPANY BRIEFS
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Article101 2005-08-30 7 WEARNES International (1994) Ltd said yesterday it is preparing a response to three shareholders following their letter on WBL Corporation's proposal to take Wearnes private. Following the despatch of a circular on Aug 17 containing the proposal by WBL, the three shareholders Morph Investments Ltd, Tan101 words
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Article51 2005-08-30 7 SESDAQ-LISTED Esmart Holdings said its wholly owned subsidiary, E-smart Distribution Pte Ltd (ESD), has been appointed as an independent design house by Oki Semiconductor Singapore Pte Ltd for Malaysia, Philippines, Indonesia, Singapore, Thailand, Vietnam and India. In addition, ESD will also design reference boards for51 words
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Article128 2005-08-30 7 YELLOW Pages announced yesterday the appointment of Robert Tomlin as a non-executive director and chairman of the board with effect from Sept 1. Mr Tomlin, the vice-chairman for Asia at ÜBS Investment Bank, replaces Goh Sik Ngee. Mr Goh will continue to serve as128 words
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Article34 2005-08-30 7 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 Day34 words
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Advertisement17 2005-08-30 7 A Allianz® PIMCO Global Bond Fund rated 5-star by Mercer Investment Consulting Global investors company regn.no *****7169Z17 words
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SINGAPORE NEWS
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568 2005-08-30 8 RONNIE LIM - Hike to $1,927 coincides with crude oil's spike to US$70 a barrel By RONNIE LIM THE spiking of oil prices above US$7O a barrel yesterday coincided with petrol pump prices here jumping another nine cents to almost $2 a litre for the568 words
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300 2005-08-30 8 HSBC is offering a prize of half-a-million dollars in a golf competition in which no putting is required. The bank is putting up the $500,000 for a hole-in-one at the HSBC Golf Challenge 2005. This is the first public golf tournament organised by HSBC. It300 words
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328 2005-08-30 8 DESPITE the recent revival of interest in the property sector, one part of the real estate industry firms in property letting and estate management remains in the doldrums. Along with software consultancy firms and those engaged in recreational activities, they were the exceptions328 words
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Article144 2005-08-30 8 SENIOR political correspondent at The Straits Times Murugaian Nirmala will be the new editor of Tamil Murasu. starting on Sept 18. She takes over from Chitra Rajaram, who is leaving after seven years as editor of the Tamil daily to pursue a career in the business144 words
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Article, Illustration325 2005-08-30 8 UMA SHANKARI - By UMA SHANKARI LOCAL brands that have seen Singapore through colonial times, World War 11, political unrest and periods of economic uncertainty were honoured yesterday at the inaugural Heritage Brand Awards. Organised by the Association of Small and Medium Enterprises and Lianhe Zaobao. theLIANHE ZAOBAO - 325 words
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252 2005-08-30 8 GROSS advertising expenditure fell by 8 per cent to $890.8 million in the first half of this year, attributable largely to the closure of Media Works and Channel i. This compares with $966.8 million in the year-ago period. According to figures released by252 words
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Advertisement1085 2005-08-30 8 The Norinchukin Bank (A bank organised in Japan) Consolidated Balance Sheets Consolidated Statements of Operations As of March 31, 2005 and 2004 For the fiscal years ended March 31, 2005 and 2004 Millions of Yen Millions of Yen 2005 2004 2005 2004 Assets Income Cash and Due from Banks 2,385,2451,085 words
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SMEspotlight
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Article, Illustration988 2005-08-30 9 NANDE KHIN - Association ties up with government to raise worker's skill and safety standards, reports NANDE KHIN NANDE KHIN Multinational companies (MNCs) in the chemicals, petrochemicals, oil gas and pharmaceutical industries are enjoying a boom, and small and medium-sized enterprises (SMEs) in the process industry are revving upCHEMICAL PROCESS TECHNOLOGY CENTRE - 988 words
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Article241 2005-08-30 9 NANDE KHIN - By NANDE KHIN HELP for small and medium-sized enterprises (SMEs) in the Asia-Pa-cific at the ministerial level will be on hand soon. Ministers in charge of SMEs from various countries in the Asia-Pacific Economic Cooperation (Apec) forum will discuss how to enable SMEs to241 words
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Article, Illustration850 2005-08-30 10 KEOY SOO EARN - KEOY SOO EARN says delegation is an investment in development and training, and a crucial human resource strategy to retain staff KEOY SOO EARN WHEN an entrepreneur first establishes his business, he would perform almost every task himself. As his enterprise grows bigger and more complex,850 words
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Article, Illustration963 2005-08-30 11 NANDE KHIN - The company's business spans a wide spectrum of customers, products and markets. NANDE KHIN reports NANDE KHIN NELSON Lim, founder and managing director of JP Nelson Equipment, does not believe in putting all his eggs in one basket. And this cautious attitude is also aCHRIS LOH - 963 words
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Article, Illustration691 2005-08-30 11 CHLOE CHOY - SMALL CAPS By CHLOE CHOY MANY companies are smiling due to the ongoing boom of the oil gas and marine industries. And Ses-daq-listed Aqua-Terra Supply Co Ltd is no exception. The company provides services to firms in these industries, with a vision to be "the preferredCHRIS LOH - 691 words
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Advertisement69 2005-08-30 9 f HRRPMB9VIPVIVMPPVHMVPIHHHH S. t t IHFEC2OOS 31 August 2 September 2005 Singapore Expo, Hall 2 SEE YOU I^REI^iHiBBI Organiser: WltHltMlttMlUUfttl flip 0 Supporting Organisations; Parkway Promotions Pte Ltd m ly EDB &»yF» 88 2 mm M Snfwore W SINGAPORE vl,lt«in„por..com -KM <7"•« Hjß nfTfwwnonAi Mwivmvc* »ai IH t (Subsidiary of69 words
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Advertisement115 2005-08-30 10 H i Introducing simple, automated back up for small business servers "Jk 1 With automated backup software and no media to swap, the Maxtor II j V >' Small Business Edition is the easiest way to protect your data. Simply correct the I f drive, install the software, and your115 words
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Advertisement189 2005-08-30 10 ig».wp 4saHH||au»s||Kßiiiii^^:'Fn^ 111 It jil I!) If L As you know, timing is key when it comes to making the right move. Like going for this never-before subscription offer, valid only for this month: a 20% off the usual price plus a chance to win the prize of your choice189 words
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Advertisement95 2005-08-30 11 El. AUTHORITY OF SINGAPORE[ Tenor Approximately 15 years j 1 Total Amount Allotted SGD 2,700,000,000 I Amount Allotted to 1 Non-Competitive Applications SGD 510,883,000 Of which allotted to MAS SGD 300,000,000 8 Total Amount Applied SGD 4,214,070,000 Coupon Rate 3.250% p.a. s I Cut-off Yield Price 3.30% p.a. and 195 words
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ECONOMY WATCH
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701 2005-08-30 12 Storm set to hit US oil operations in Gulf of Mexico, shutting down 1m barrels of capacity AP [SINGAPORE] Crude oil futures surged past US$7O a barrel for the first time yesterday as Hurricane Katrina barrelled towards the heart of US oil andAP - 701 words
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Article, Illustration484 2005-08-30 12 AFP [BANGKOK] As oil prices edge ever higher, Asian governments are under pressure to reduce consumption and explore alternatives, but for many citizens, car ownership remains a holy grail and calls for change are being ignored. The price of oil flirted with the US$7O perAFP - 484 words
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709 2005-08-30 12 Bloomberg [JAKARTA] Indonesia's central bank needs to raise its benchmark interest rate to at least 10 per cent, a level unseen since June 2003, to stem a decline in the rupiah, according to firms including HSBC Holdings pic and Standard CharteredBloomberg - 709 words
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Article, Illustration418 2005-08-30 12 Central bank chief repeats commitment to flexible exchange rate Reuters [LONDON] Recent reforms to China's currency regime do not represent a one-off adjustment, Chinese central bank governor Zhou Xiaochuan said in remarks published yesterday, repeating a commitment to gradually make the exchange rateReuters - 418 words
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424 2005-08-30 12 Reuters [BEIJING! Talks between China and the European Union to revise a two-month-old textiles pact went into a fifth day yesterday as the EU's trade chief prepared proposals to unblock some 80 million Chinese garments from European ports. EUReuters - 424 words
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MALAYSIA/INDONESIA
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Article, Illustration640 2005-08-30 13 S JAYASANKARAN - Top budget carrier lists achievements in reaction to MAS chiefs remarks By S JAYASANKARAN in Kuala Lumpur AIRASIA of Malaysia, the largest budget airline in the region, issued a politely worded statement that rebutted allegations that the airline was being protected while simultaneously managing to640 words
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Article270 2005-08-30 13 Reuters [KUALA LUMPUR] Malaysian conglomerate Sime Darby reported an 8 per cent drop in fourth-quarter profit yesterday, in line with market expectations, as better earnings from the heavy equipment and motor business were offset by a lower contribution from plantations and property divisions. Sime'sReuters - 270 words
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321 2005-08-30 13 AFP [KUALA LUMPUR] Several high-flying Malaysians have been identified to helm national carrier Malaysia Airlines, following an uproar over reports that it would hire a foreigner, a report said yesterday. The New Straits Times cited a high-level source within the airline as sayingAFP - 321 words
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340 2005-08-30 13 AFP [KUALA LUMPUR] Former prime minister Mahathir Mohamad has returned seven vehicles to national carmaker Proton, apparently to show displeasure over the government's removal of his protege as the company's chief, a news report said yesterday. Dr Mahathir, who is an adviser to state-ownedAFP - 340 words
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Advertisement285 2005-08-30 13 Presented DinerS Cltlb Card To apply, ca*****6 0980 By: World of Exclusive Privileges Treats fs Diners Club //ifevrMaflqna/ MERITUS MANDARIN SINGAPORE Sjll 18 AUGUST-18 SEPTEMBER 2005 1 I This Mid-Autumn Festival, make sure you Wf JM K r *1 ill are well prepared with mooncakes from M I/I *7rA/f/Wi/VT[n>c 1285 words
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GREATER CHINA/INDIA
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Article, Illustration428 2005-08-30 14 ENERGY TIE-UPS Cooperation with ONGC may be in a third country: CNPC [BEIJING/MUMBAI] China National Petroleum Corporation, China's biggest oil company, is in talks with ONGC, the Indian govern-ment-controlled energy group, to cooperate on "a specific project" in an unnamed third country,AP - 428 words
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180 2005-08-30 14 AFP [NEW DELHI] Indian Foreign Minister Natwar Singh will visit Iran in September for talks with President Mahmud Amedinejad that will likely include a proposed US$7.4 billion gas pipeline between Iran and India, media reports said on Sunday. His three-day visit from SeptAFP - 180 words
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Article268 2005-08-30 14 Renters [BEIJING] The Kazakh government supports Chinese state oil firm CNPC's planned US$4.2 billion takeover of Canada's PetroKazakhstan, Xinhua news agency said, in a report confirmed by the Chinese firm. During a meeting on Friday with CNPC representatives in Kazakhstan capital Astana, a senior KazakhRenters - 268 words
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302 2005-08-30 14 (NEW DELHI] Indian security concerns threaten to derail plans by Huawei, the Chinese telecommunications company, to increase its investment in its Indian affiliate in Bangalore, the Financial Times reported, citing confidential documents obtained by the paper. It said a meeting of powerful302 words
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360 2005-08-30 14 Bloomberg [BEIJING] China Petroleum Chemical Corp, Asia's biggest refiner, said firsthalf profit rose 17 per cent, less than a third of the yearearlier gain, as soaring crude oil costs cut earnings from making fuels. Net income excluding minority interests increased to 19.65Bloomberg - 360 words
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NOTE BOOK
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85 2005-08-30 14 Bloomberg [SHANGHAI] China Minsheng Banking Corp, the nation's only privately controlled lender, said first-half profit rose 16 per cent on higher interest and investment income. Net income at the bank, in which Singapore investment company Temasek Holdings has a close toBloomberg - 85 words
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110 2005-08-30 14 Reuters [SHANGHAI] China will promote development of direct financing vehicles, especially corporate bonds, as a way to reduce company costs and control the volume of bad loans at local banks, according to a media report yesterday. Direct financing by companies typicallyReuters - 110 words
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75 2005-08-30 14 Reuters [SHANGHAI] China has issued a series of new rules to accelerate stock market reform, aiming to protect individual shareholders and provide stability amid a massive state share sell-off, the regulator said. The 55 new rules issued over the weekend byReuters - 75 words
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98 2005-08-30 14 Bloomberg [MANILA] The Philippines and Indonesia are bracing for possible terrorist attacks in the next two months, after a bomb went off on a Philippine ferry on Sunday and the anniversaries of previous attacks in Indonesia approach. Philippine National Security Adviser Norberto GonzalesBloomberg - 98 words
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59 2005-08-30 14 Reuters s [HONG KONG] China Life Insurance Co yesterday reported a higher-than-expected 85 per cent jump in first-half earnings, driven by improved returns from its bond investments. China Life earned 5.21 billion yuan (Ssl. 1 billion) in the first six monthsReuters - 59 words
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56 2005-08-30 14 AFP [KUALA LUMPUR] Malaysia yesterday said it was reviewing its oil subsidies and may introduce a round of cuts as the price of oil hit a new record of US$7O a barrel. "Reducing oil subsidies would indirectly increase economic productivity," Deputy FinanceAFP - 56 words
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Article, Illustration779 2005-08-30 15 Huge savings await world's healthcare providers if Indian drug firm succeeds [LONDON] The Indian drug firm Ranbaxy has launched court battles in Britain and America that could save the NHS and other healthcare providers billions of pounds a year by freeing theBLOOMBERG - 779 words
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Article, Illustration705 2005-08-30 15 ASHOK KUMAR - INDIA INSIGHT Commodities and equities are growing in tandem ASHOK KUMAR WHILE the global financial community is well aware of the ongoing boom in the Indian equity markets, few are aware of a parallel phenomenon. Strong consumer demand and higher corporate earnings have resulted in the705 words
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279 2005-08-30 15 AFP [HONG KONG] China's biggest lender, the Industrial and Commercial Bank of China (ICBC), may sign a memorandum of understanding to sell a multi-bil-lion-dollar stake to a consortium comprising Goldman Sachs and Allianz, a press report said yesterday. Citing unnamed sources,AFP - 279 words
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Article, Illustration334 2005-08-30 15 [MUMßAl] India's capital markets regulator has tightened rules on allocating shares in initial public offerings, helping small investors but curbing foreign funds whose large subscriptions have contributed to often frenzied demand for new paper, according to a Financial Times report. It quoted M. Damodaran, chairmanSource: Bloomberg - 334 words
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Advertisement326 2005-08-30 14 m fUBi umnHf i II i« 9 v ji-.! s* i 1 j Ji Jl/ w Small and Medium Enterprises (SMEs) based on annual audited financial s INVITATION FOR SUBMISSION OF AUDITED FINANCIALS FOR ANNUAL CORPORATE RANKINGS Ranking Period: 1 June 2004 31 May 2005 Closing Date for Submission: 30326 words
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Advertisement516 2005-08-30 15 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF MUSIC PLAZA PTE LTD (Co. Rag. No. *****1314*) NOTICE OF RESOLUTIONS At on Extroordfoary General Meeting of the membera of MuticWozoPla ltd duly convened and held on 22 August 2005 at 10.00 a.m. at 140, Poya516 words
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Advertisement448 2005-08-30 15 IN THE MATTER OF THE COMPANIES ACT, CAP. M AND ADVANCE INTEGRATED MANAGEMENT SYSTEMS PTE LTD At at Extraordinary General Meeting of ADVANCE INTEGRATED MANAGEMENT SYSTEMS PTE LTD held on 29 August 2005, the following Special Resolution was passed WINDING-UP AND APPOINTMENT OF LIQUIDATOR That the Company be wound up448 words
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Advertisement358 2005-08-30 15 IN THE MATTER OF THE COMPANIES ACT. CAP. 50 AND IN THE MATTER OF ROSENBLUTH INTERNATIONAL ASIA PACIFIC (PRIVATE) UMfTED (COMPANY REGISTRATION NO. *****7144 M) (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act Cap. 50 that the Final358 words
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Advertisement500 2005-08-30 15 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF ALPHA COAST (S) PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) At mi Extraordinary General Meeting of the members of the abovenamed Company duly convened and held M 35 Selegie Road #10-16 Park lane Shopping Mall Singapore *****7500 words
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Advertisement590 2005-08-30 15 IN THE MATTER OF THE COMPANIES ACT, (CAR 50,1994 ED) AND IN THE MATTER OF GRANITE RESOURCES PTE LTD (Company Registration No. **********) (Incorporated m the RepvUic of "iingyoiQ NOTfcE OF CREDITORS' MEETING PURSUANT TO SECTION 296 OF THE COMPANIES ACT, (CAP. 50,1994 ED) NOTICE IS HEREBY GIVEN that pursuant590 words
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ASIA-PACIFIC
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517 2005-08-30 16 ANTHONY ROWLEY - JAPAN ELECTIONS Analysts see summit move as an attempt at political coup ahead of polls By ANTHONY ROWLEY in Tokyo JAPAN and China need a summit meeting of political leaders to improve diplomatic relations, the acting secretary-general of Japan's controlling Liberal Democratic Party,517 words
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Article, Illustration708 2005-08-30 16 THE OPPOSITION Reuters [TOKYO] To his supporters, Katsuya Okada is a serious man of principle who puts policies before performance. Critics see him as a bit of a stubborn stick-in-the mud. Either way, the leader of the main opposition Demo-, cratic Party presents aReuters; PHOTOS: REUTERS, AP - 708 words
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690 2005-08-30 16 THE RULING PARTY Reuters [TOKYO] Facing down his enemies. Japanese Prime Minister Junichiro Koizumi may want to think of himself as the heroic sheriff in the 1952 Gary Cooper classic High Noon. But to critics, his tactic of sending "assassin" candidates to runReuters - 690 words
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Article, Illustration433 2005-08-30 16 He calls an opponent's M'sian wife a 'mail order bride', pinches journalist's bottom APP [SYDNEY] A leading Australian, politician resigned yesterday after it was revealed that he called an opponent's Malaysian wife a "mail order bride", pinched the bottom of one female journalistAPP; AFP - 433 words
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WORLD
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541 2005-08-30 17 NEIL BEHRMANN - Stock markets in Latin America, Eastern Europe and Asia see gains By NEIL BEHRMANN in London GLOBAL stock markets have boomed in the past five months despite the steady rise in US interest rates and a revival of the US dollar. Latin American541 words
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397 2005-08-30 17 Bloomberg. NYT [TOKYO] Intelsat Ltd has agreed to buy PanAmSat Holding Corp for US$3.2 billion in cash to become the world's largest com-mercial-satellite operator. The company will pay US$25 a share for PanAmSat, the world's largest distributor of satellite-based television channels, IntelsatBloomberg.; NYT - 397 words
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Article, Illustration948 2005-08-30 17 NYT [NEW YORK] Two years after trying to scrub Martha Stewart the person out of Martha Stewart the brand, Martha Stewart the business has a new strategy: Martha Stewart every day. "I always disagreed with the separation of the name and the brand and theNYT; REUTERS - 948 words
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Article, Illustration663 2005-08-30 17 RAVI KANTH - PROFILE By RAVI KANTH m Gweva THE World Trade Organization will witness regime change on Thursday when Pascal Lamy takes over at the top. He joins as the 57-year-old trade body is facing a crisis of confidence, analysts said. Mr Lamy has aREUTERS - 663 words
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Page 17 Advertisements
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Advertisement188 2005-08-30 17 KNHK CritatfnciaMWtttt IN THE MATTER OF COMPANIES ACT, CAP. 50 AND IN THE MATTER OF HAVERINE PTE LTD Reg No. *****2950 D (In Members' Voluntary Liquidation) NOnCE OF FINAL GENERAL MEETING NOTICE IS HEREBY GIVEN in pursuant to Section 308( 1) of the Componies Act, Cap. 50, that the Final188 words
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AVIATION
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Article, Illustration510 2005-08-30 18 But carrier warns increasing fuel prices would hit this year's results Reuters [WELLINGTON] Air New Zealand has reported an 8 per cent rise in net year profit on increased passenger numbers, but warned rising fuel prices would cut into profits in fiscalReuters; BLOOMBERG - 510 words
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321 2005-08-30 18 Bloomberg IHONG KONGTt China Southern Airlifted Co, the nation's second-largest carrier, had a smaller first-half loss after adding a tax credit to results announced on Friday. The airline had a loss in the first six months on record fuel costs. Net lossBloomberg - 321 words
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280 2005-08-30 18 AFP [SINGAPORE] Singapore budget carrier Tiger Airways said yesterday it has already carried half a million passengers before reaching its first full year of operations next month. The lucky 500,000 th passenger was a man taking a flight from Singapore to Ho Chi MinhAFP - 280 words
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210 2005-08-30 18 Bloomberg [SINGAPORE] Singapore Airlines Ltd (SIA), Asia's most profitable carrier, said it will increase flights to Taipei and two cities in Australia during the northern hemisphere's winter season to meet rising demand for travel. The airline will offer a total of seven additionalBloomberg - 210 words
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321 2005-08-30 18 It's okay for kids under 2 to fly free in lap of adult Bloomberg [WASHINGTON] The US government won't require children under age 2 to occupy their own airline seats because parents otherwise may choose to drive and be at a greater risk of dyingBloomberg - 321 words
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Article385 2005-08-30 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 EVA385 words
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Page 18 Advertisements
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Advertisement145 2005-08-30 18 BT Deal of the Week Exclusive Business Class Airfares with ZUJI 1H 0 •p* 9 WW VI B HD fIK c I| ASII AIRFARE HOTEL WEATHER Ne«. $1,099 $285 i*> ueini I Air Sahara Intercontinental The Grand New Delhi Rain TOPIQDCTNATIONS AttfAftE (busings <te% tan HOTaflWßtt MfIMER Jakarta $699 (Caha,iww145 words
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Page 18 Miscellaneous
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Miscellaneous228 2005-08-30 18 CRYPTIC CROSSWORD I d entered by ap 2 Colourful phenomena of art- 14 proof first date Enid would ex- YESTERDAY'S SOLUTION ist in ribbons (8) press about (8) Across: 1 Dont mention it, 10 Rip--3 Allowance on sheltered side 15 Was not initially tempted to cord, 11 Steps in, 12228 words
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SHIPPING
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Article, Illustration490 2005-08-30 19 DONALD URQUHART - But total full-year revenue expected to be 25% above 2004's 162b kroner By DONALD URQUHART [SINGAPORE] The total bill for restructuring and integrating former Anglo-Dutch line Royal P&O Nedlloyd with its existing Maersk Sealand liner operation will amount to nearly 1.5 billion490 words
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290 2005-08-30 19 Bloomberg [OSLO] Frontline Ltd, the world's biggest oil-tanker operator by capacity, may rebuild some of its single- hulled vessels to ship-based oil rigs to continue making money on them after they are banned from carrying crude from 2015. The company operates 12Bloomberg - 290 words
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312 2005-08-30 19 AFP [KUALA LUMPUR] Malaysia yesterday urged ah international insurance body to remove the Malacca Strait from a list of waterways deemed dangerous, saying ships are safe from terror attacks and piracy is contained. Malaysia, Indonesia and Singapore were working closely to ensure securityAFP - 312 words
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Article, Illustration369 2005-08-30 19 Booming China exports, firm freight rates cited Reuters [TAIPEI] Taiwan's Evergreen Marine Corp, the world's third-largest container shipper, reported a rise of 20 per cent in sec-ond-quarter net profit on the back of booming China exports and firm freight rates. Evergreen, whichReuters; BLOOMBERG - 369 words
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Article267 2005-08-30 19 sgx 9NP 'ooo 29 SS *4- Vol CH Offshore .0.40 -0 00 800 ChuanHup 0.88 -0.01 1286 Cosco Corporation .2.36 -0.02 2983 CWT Distribution j0.74 -0.01 75 EzraHldgs 1.44 -0.07 1077 Freight Unks .0.08 -0.01 220 Grand Banks Yacht .0.97 unch 197 Java Holdings 1.29 -0.04 3080 K1267 words
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Page 19 Advertisements
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Advertisement42 2005-08-30 19 ohm* -mm# *< wmmi .-wm: ■mmmmammmtemmmmmmmmmmmmmmmmmmmmmmm ii i GET A Leading Edge Your sailing schedules get wider attention iijThe Business Times shipping pages Call Bernard Ong at 6319-1645 1 1 I 1 I I I i I I THE BUSINESS Tfcß Shipping times42 words
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Advertisement23 2005-08-30 19 rsi Z Lianhe Zaobao I Oei Hong Leong I pays I INTU dons I I handsomely I I ft*#******#* I I asggggsaaft I23 words
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EDITORIAL & OPINION
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544 2005-08-30 20 EDITORIAL YOU get what you pay for. It's an old sales line, but it also holds a lot of truth now that Singapore is redoubling efforts to improve the quality of service here. The focus has fallen on service quality since Prime Minister544 words
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Article, Illustration1731 2005-08-30 20 TIGER TONG - China banks ready to list but where? Both CCB and BOC should delay their IPO listings until the first half of next year By TIGER TONG 0 J N AUG 18, the Royal Bank of Scotland (RBS), the UK's second largest bank, together with Merrill Lynch and the Li Ka-ShingBLOOMBERG - 1,731 words
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Article, Illustration790 2005-08-30 20 PAUL SAMUELSON - THE BOTTOM LINE PAUL SAMUELSON Tribune Media Services A CHAIN is only as strong as its weakest link. President George W Bush must have been absent the day they taught that at Yale. This helps explain a current paradox. Usually a president orTribune Media Services - 790 words
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Article, Illustration1351 2005-08-30 21 GERALDINE FABRIKANT - Western optimism has turned to dismay with newly-imposed restrictive rules in force By GERALDINE FABRIKANT NYT IN June, Yu Youjun, the executive deputy governor of Hunan Province, came to lunch accompanied by 16 dignitaries at the Beverly Hills home ofNYT; AP - 1,351 words
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Article871 2005-08-30 21 JENNY LEONG - By JENNY LEONG WE ALL have someone we envy. A friend who actually looks forward to Monday, who finds his boss considerate, and even asserts that his company cares for him as a person. Sounds like an exaggeration to goad you on, but have871 words
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693 2005-08-30 21 Reuters THE restaurant is full, the wine is flowing, but Bangkok restaurateur Roberto Ferin can't relax. The six-year veteran of Thailand is seeing fewer Thai faces at his tables these days as spluttering economic growth and surging inflation eat into people's wallets. "Of courseReuters - 693 words
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Article2501 2005-08-30 22 SGX XTRANET S2-Wk T«l Last Vol Day Lart Quota GrOrv Mr GrTVJ Nat MCap t—i low Coda Company Sala *I- COM) High low S*f Cvr W ********** 6065 Diamonds US*****cd 6095 IS DJ US Tech... US3740 6097 IS MSCI Spore US555 6101 ISStPSOO US8270 ********** 6170 SPDRS US*****a)2,501 words
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Article3314 2005-08-30 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES m tool a«T la SS la US» Ktfy *»f dy *y» %yr Aug 36 Mm Oianqa Changa Own— Change Chanaa Chanpa Wwtd li rip. Preliminary 889.0 -05 48-0.4 3J -04 13 t IAK PiHwwnary 823 -03 103 0.0 4J 00 2-2 ttWBtfutoWT *****3,314 words
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Page 24 Advertisements
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Advertisement1200 2005-08-30 24 t NYK GROUP SOUTH ASIA PTE LTD »JW jrjCTr ranr tKS TJS K* LIME Fax: 6292 2856 (Regional sales) 6239 7109 (OPS)/ 6299 5785 (Documentation) NIPPON YUSEN KAISHA TOUTO K>»AICU KASHA. Utt (C/R NO: **********0E) CR»: **********00 Anro*Hou»T > *****1 Vltebiit*: www.wnotoHiiwi.ww 88^H8I8B^ Europ# NCX Sun *»<Hn«H>« EMA y WM1,200 words
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Advertisement722 2005-08-30 24 IINTIRAtiA 8080 MBVICi VBSa/VOT MWWOI HB6HTW) jg Wj LO SM *T SWOTS VENTUKII/05 1$ 3.1 01/W 04/ M M/W 11/ M 13/W STRAITS VEMTVIREII/05 15 12 15/W 1«/ M 22/ M 25/W 27/W STtAiTS VEKTUKE M/ 05 15 3J 30/ M 02/10 04/10 W/10 H/lfl [AUSTRALIAN 8080 SiKVKI 1 VBSa/VOT722 words
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Page 25 Advertisements
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Advertisement886 2005-08-30 25 hambumsuij torn **5^ m AUSE St«Vlg (EXPORT) roruLAwc smwapqm misiax stdwct muoutwahhaim potkiaiw smcapqm wma* stwkt wawumi unu* CSCL XIAMEN 084$ OVM 02/09 12/09 14/09 17/09 20/09CSCL XUMEM ot*S 29/09 30/0* 10/10 12/10 M? 'V lO Afluusuisox M7D9 09/09 19/09 Jl/99 M/ 09 27/09 AHKASTUSO4SO6/1007/10 17/10 19/10 22/10 K/10 CAI886 words
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Advertisement894 2005-08-30 25 VOY PKG GQIDfH HADE SI2H 6/9 JA SZS CAPE SAKHAGO 005N 13/9 14/9 16/9 z GOLDEN GATE HI3M 70/9 21/9 I 23/9 I I IT 1 Cnlng HKG Mid-Strom MBggmamMMWi MMZffilE23inß lamiiMil VESSEL VOY PKG SIN HKG SHA TAP HSK VESSfI. I VOY SIN PKG M NORASIA EVEREST WH7T 12/9894 words
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Advertisement840 2005-08-30 25 m WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS VESSEL VOT SIN P.KLANOI COLOMRO N. SHtVA COLOMxT" fniiß 23 SEP im nsg wfoFICQUGT MIW 26SEP 27 AUG MSP QlfiQ ML— ALSO KCPTMG Ffl TO COORN, TUTKORM (VIA COLOMRO) AND KANDIA 1 GOA (VIA N SWVA)840 words
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THE BUSINESS TIMES SHIPPING TIMES
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Page 26 Advertisements
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Advertisement690 2005-08-30 26 UXAf WALLENIUS WILHELMSEN website: http://www.2wglobol.com VESSEL "VOT IK MM) HOU# Ml* SAY lAI Off NYC WW MOl~ TAPKHA ALSI9 4001NS 6.3 M I M/ 09 H/10 14/10 17/10 19/10 TEXAS AF525 4201 ms 6.4 M I 13/09 10/10 H/10 23/10 21/10 24/10 TAMER LAW AF526 3201 MS &.4M 30/09 22/10690 words
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Advertisement464 2005-08-30 26 yissa. vor sw pgu msa voy m *t PA( lAWDA 1543* 24/ M 20/01 PACBMTAII WU J7/00 30/ M PLC RAIMA l um ?7/Aft ?«/M PAC IMJ 4181 29/ M 01/09 —jug— iiZ -asPAC tAMDA 1542! 21/ M W/Of cy 2301 01W azu ?)/W vor l imS 3i/S o?/w JBOfltJ464 words
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Advertisement417 2005-08-30 26 BSAi MYANMA mm FIVE STAR LINE (My—or Notioad Um) Loading for Yaafoo VESSEL VOY SIN PKL PEN PGU PAGAN 348W SU> PAGAN 349W SU IN MALAYSIA: lOUSYIAD SHIPPING AGINCIES KUI/PKL 03-*****388 PEN: 04-*****1S ACCEPTING COItVEIITIOHAL C6O VESSEL VOY HKG SIN PGU PU KIK COCOA WARY 4 SU) SU) SU) SU)417 words
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PROPERTY
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Article, Illustration446 2005-08-30 28 ARTHUR SIM - Architect Toyo Ito talks to ARTHUR SIM about what he intends to achieve in his design of Vivocity ARTHUR SIM SOME may have noticed a mass of concrete slowly taking shape next to the Harbourfront Centre. With sloping ramps and undulating forms, it looks like446 words
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476 2005-08-30 28 Bloomberg [HONG KONG] Hang Lung's profit for the year ended June 30 probably almost doubled to HK52.96 billion (*****.8 million), according to the median of 18 analyst estimates in a Thomson Financial survey. Wharfs first-half profit probably rose 10 per centBloomberg - 476 words
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406 2005-08-30 28 Macau real estate prices up 31 in 2nd quarter Xinhua [MACAU] Macau's property boom is seemingly persisting, as the real estate prices saw a year-on-year rise of 31 per cent in the second quarter. The latest figures released by the governmentrun Statistics and Census Service showed that the average transactionXinhua - 406 words
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Page 28 Advertisements
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Advertisement268 2005-08-30 28 |l»l£j Debenham 8 Tie Leung t lllffliiil 9 Suitable for commercial ifjlllHll HI schools/small corporate office f IlflllfiSSl OR serviced office/apartments* iillllllHk 11 Land area: 1,330.9 sq m f HUlllilalM HlB etta b' e area: smwwjgjg SIIHII i Approx. 56,700 sq ft 2003 MP: Plot ratio 8.4+, WttKKM iM§H building268 words
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Advertisement170 2005-08-30 28 TfT' MTO approx. 7500 sq ft High Yield with I k Capital Growth OFFICE SPACE AT THE HEEREN 260 ORCHARD ROAD -1,600 sq ft 4,100 sq ft Column free layout Raised flooring 5 mins. walk to Orchard Somerset MRT Jelena 6839 7223 Swn Cheng Management Pte Ltd iillilll CUSHMAN hhm170 words
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Advertisement117 2005-08-30 28 4 Robinson Road, opposite Republic Plaza II Next to entrance to Raffles Place MRT interchange HI 3,300 sf with lift lobby frontage I Ideal for small to medium-sized law firms, I accounting firms, consultancy companies and I regional MNC offices B Security and privacy of whole floor to yourself 8117 words
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Advertisement15 2005-08-30 28 il ZD B The Straits Tunes Recruit The first step on your ladder to success15 words
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