The Business Times, 3 November 2005

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Microfilm: NL26526
Total Pages: 26
1 26 The Business Times
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  • Title Section
    Lock icon Masthead
    15 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-timestasial.com.sg MICA (P) 089/03/2005 Thursday, November 3,2005
    15 words
  • Article
    Lock icon SingPower's Aussie assets IPO imminent
    532 1  -  Sources say the huge offering will be marketed as a high-yield play, and could raise $1.26 billion By LESLIE YEE ISINGAPORFI Singapore's biggest initial public offer this year involving stateowned Singapore Power's Australian assets will be launched within a few weeks. according to sources close
    532 words
  • Article
    Lock icon MARKETS DIGEST
    136 1 Dsn 2,***** (+38.77) ST INDEX FUTURES 2,255.00 (+39.00) simso 267.02 (+4.35) SIMSCI FUTURES 267.20 (+3.80) MARKETS Wednesday Change KLSECOMP 913.92 +3.16 NIKKEI 225 13,894.78 +26.92 HANG SENG 14,597.48 +25.22 SET INDEX 699.88 +6.61 JAKARTA COMP Closed MANILA COMP 2,007.12 +46.90 SEOUL COMP 1,208.38 +19.43 SHENZHEN B 192.70 +3.75
    136 words
  • Article
    Lock icon Bank of China still hopeful of Temasek deal
    600 1  -  Remark follows talk that its bid for a stake may have been blocked By CONRAD RAJ [SINGAPORE] Bank of China (BOC) remains hopeful that Singapore's Temasek Holdings will obtain approval to buy a 10 per cent stake for US$3.l billion, amid reports
    600 words
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  • TOP STORIES
    • Article, Illustration
      Lock icon S'pore firms less upbeat but still positive about outlook
      585 2  -  Manufacturers who are bullish fall to 16% from 24% 3 months ago: survey By CHUANG PECK MING [SINGAPORE! Companies in the manufacturing and services sectors are less upbeat than they were a few months ago but still positive about the outlook
      Source: D pt of S s  -  585 words
    • Article, Illustration
      Lock icon SMU formulates index to put service quality to the test
      556 2  -  By ALEXANDRA HO [SINGAPORE] Beyond the basic greet, smile and thank paradigm for service standards here, Singapore Management University (SMU) has -formulated a method to quantify something as intangible as service quality. The SMU Service Quality Index aims to examine
      556 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      546 2 S'pore firms less upbeat about 6-month outlook COMPANIES in the manufacturing and services sectors are less upbeat than they were a few months ago but still positive about the outlook for the six months to March next year. A quarter of manufacturers in the latest poll by the
      546 words
    • Article
      Lock icon P&O's final acquisition price could hit £3.8b: brokers
      529 2  -  By NEIL BEHRMANN in London THE ultimate acquisition price for UK ports and ferries group P&O could be in the region of £3.2 billion to £3.8 billion (559.6-$11.4 billion), brokers believe. The view is that if Dubai Ports World (DPW) declares its
      529 words
    • Article
      Lock icon Latest Fed rate hike points to more increases next year
      588 2  -  Statement reflects preoccupation with inflation By ANDREW MARKS in New York THE murky economic forecasts resulting from the disruptions and devastation caused by hurricanes Katrina and Rita have done little to alter the US Federal Reserve's view that inflation remains
      588 words
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  • COMPANY NEWS
    • Article
      Lock icon Temasek's divestments likely to be gradual: Citigroup
      632 3  -  TEMASEK-LINKED DEALS Borrowing power, internal cashflow enough to fund acquisitions abroad By WONG WEI KONG WITH spare borrowing capacity and internal cashflows, there is less pressure on Singapore investment company Temasek Holdings to simultaneously divest to fund its overseas acquisitions. But in the
      632 words
    • Article, Illustration
      Lock icon No special deal for Southern Bank owners in merger
      724 3  -  HOCK LOCK SIEW By EDDIE TOH TAN Teong Hean the chief executive of takeover target Southern Bank in Malaysia definitely has a strong pedigree. His father Tan Seng Kee was one of the Hokkien co-founders of Southern Bank in Penang in
      FILE PHOTO  -  724 words
    • Article
      Lock icon Econ again associated company of UOB
      265 3  -  By CONRAD TAN TROUBLED construction and civil engineering company Econ International has once again become an associated company of United Overseas Bank. UOB said yesterday that it has received 454 million new shares in Econ at 1.5 cents each, raising its stake in the
      265 words
    • COMPANY BRIEFS
      • Article
        Lock icon Landwind Medical IPO 1.4 times subscribed
        68 3 CHINA-BASED medical diagnostic imaging firm Medical Holdings says its initial public offering of 92 million shares at 29 cents each comprising four million public-offer shares and 88 million placement units was 1.4 times subscribed. Citiraya Industries chairman and Member of Parliament Michael Lim was
        68 words
      • Article
        Lock icon PNE Industries warns of full-year loss
        31 3 PNE Industries has warned that it expects to report a net loss for the year ended September 30,2005, largely due to a goodwill impairment cost.
        31 words
      • Article
        Lock icon Peter Sung quits as Tuan Sing non-exec director
        80 3 TUAN Sing Holdings has announced the resignation of its independent and non-executive director Peter Sung. The board expressed its appreciation to Mr Sung, who will also step down as chairman of its nominating committee and member of its audit committee. Tuan Sing
        80 words
      • Article
        Lock icon Provisional liquidators named for NeoCorp unit
        70 3 NEOCORP International's judicial managers said Peter Chay Fook Yuen, Bob Yap Cheng Ghee and Yeap Lam Kheng of KPMG Business Advisory Pte Ltd were appointed as provisional liquidators of its subsidiary NeoCorp Innovations Pte Ltd (NIPL). Bob Low Siew Sie had earlier resigned as
        70 words
      • Article
        Lock icon Lee Kim Tah gets nod to dispose of Longhai stake
        91 3 LEE Kim Tah Holdings has received approval from the Chinese authorities to dispose of its 100 per cent stake in Longhai Golden Triangle Food Industry Co Ltd. Lee Kim Tah said it was in its best interests to dispose of
        91 words
    • Article
      Lock icon Deadline lapses for Sea View's business search
      334 3  -  By LESLIE YEE THE already extended deadline of Oct 31 that Sea View Hotel was given to finalise the search for a new core business to avert delisting has lapsed but shareholders of Sea View Hotel whose shares have been suspended from trading
      334 words
    • Article
      Lock icon SembCorp Q3 profit expected to surge
      331 3 CORPORATE EARNINGS Reuters SEMBCORP Industries Ltd, Singapore's fourth-largest conglomerate, is expected to post a quarterly profit rise of over a third next Monday due to strong growth in its rig-building and utilities businesses. But Daiwa analyst Ang Soo Kee said the order flow for
      Reuters  -  331 words
    • Article
      Lock icon Venture Corp's Q3 earnings seen up 22%
      372 3 Reuters VENTURE Corp, Singapore's second-largest contract electronics maker, is expected to report a 22 per cent rise in quarterly earnings after a weak quarter a year ago, but the outlook remains grim due to weak printer and handset orders. Venture, which.reports third-quarter earnings
      Reuters  -  372 words
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      Lock icon Page 3 Advertisements Column 1
      46 3 P u p FIND THE OHES p hi i TWFin hc' Recruit the right people j > through CATS Recruit. > S C—i Call 1800 289 8822 or email 1 f recruit@sph.com.sg V/-> to advertise. P J b hC; UTLT mats ns l RECRUIT i J r O'
      46 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Banks lead STI's rise above 2,250
      514 4  -  STOCKS But gains are confined mainly to a handful of blue chips and their structured warrants R SIVANITHY Senior Correspondent A SHORT while ago, property was all the rage in the local stock market. Over the past two sessions, it's been the banks which
      Source: Bloomberg  -  514 words
    • TRADES TO WATCH
      • Article
        Lock icon CEO of Suntec Reit manager buys shares
        384 4 YEO See Kiat, CEO of ARA Trust Management (Suntec) Ltd, bought 200,000 units in Suntec Reit this week. The open-market purchases on Monday and yesterday came soon after it announced plans to buy Chijmes for $128 million. No prices were indicated for the
        384 words
      • Article
        Lock icon FirstLink Inv chairman's deemed stake up
        142 4  -  By MICHELLE QUAH FIRSTLINK Investments chairman Ling Yew Kong's deemed stake in the company has risen further following another open-market purchase by Alphasky Group. It was reported yesterday that Alphasky had bought 1.26 million First Link shares or a 0.37 per cent stake on
        142 words
    • Article, Illustration
      Lock icon Untitled
      427 4 OTHER SINGAPORE INDICES Nov 2 VALUE CLOSE BT OB/OS -356.00 +198.00 BT CADI -*****.00 +81.00 BT 10-day MA -*****.00 -36.00 All-SG Equities 578.54 +8.15 SG Equities Elect 120.70 +1.20 SG Equities Fin 1654.93 +25.80 SG Equities Prop 706.42 +8.78 SIMSCI 267.02 +4.35 SiMSCI Futures 267.20 +3.80 MOST ACTIVE STOCKS VOLUME
      427 words
    • Article, Illustration
      Lock icon BROKERS' TAKE
      957 4  -  Compiled by UMA SHANKARI Neptune Orient Lines Nov 2 dose: $3 JO CIMB-GK RESEARCH, Nov 2 NOL posted a 6 per cent y-o-y increase in net profit to US$249 million in 3Q05. This exceeded our forecast of US$2OB million, as well as the consensus of US$2l7 million. Unfortunately,
      Source: Bloomberg  -  957 words
    • Article, Illustration
      Lock icon US$ stays at 2-year highs against yen
      500 4 CURRENCIES AFP [TOKYO] The US dollar stayed at its highest levels against the yen in more than two years yesterday after the US Federal Reserve hiked its key interest rate, as expected, by a quarter of a percentage point, dealers said. The US
      AFP; REUTERS  -  500 words
    • Article, Illustration
      Lock icon ST Aerospace wins China United deal
      487 5  -  $15m contract for components management, maintenance By MICHELLE QUAH A UNIT of Singapore Technologies Aerospace has been awarded a $15 million contract by China United Airlines, a Beijing-based subsidiary of Shanghai Airlines. ST Aerospace Supplies, a wholly-owned subsidiary of ST Aerospace, was awarded the
      FILE PHOTO  -  487 words
    • Article
      Lock icon Midas wins maiden deal in shipbuilding industry
      275 5 MIDAS Holdings, a manufacturer of aluminium alloy extrusion products.* and polyethylene pipes for infrastructure and transport industries in China, announced yesterday that its aluminium alloy division, Jilin Midas Aluminium Industries Co Ltd, has secured its first shipbuilding industry contract. The 1.4 million yuan
      275 words
    • Article
      Lock icon Dairy Farm raises PT Hero stake
      166 5 Dow Jones DAIRY Farm International Holdings Ltd yesterday said it has bought a further 4.01 per cent stake in Indonesia's PT Hero Supermarket Tbk for US$B.3 million, bringing its holding to 44.55 per cent. The company said the tender offer for 13.2 million shares
      Dow Jones  -  166 words
    • Article
      Lock icon UNIT TRUSTS & FUNDS
      5424 5 UNIT TRUSTS FUNDS CitiBond S pore A/J 1.286/ CitiBond S pore B/J 1.338/ aqu ic-oa,.) Citi Mone SGD Class A 1.032/ C C 9t (S P 0 Citi Money Sing Dollar Class« 1 086/ Star Euope Eqty 0.825/ Citi Pan-Europe Equity Fund 1.26/ Star Europe Bond 23V CitiSelect Asa Tilt
      5,424 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon New chemical synthesis lab to train researchers
      384 6  -  The Biopolis facility is an extension of A*Star's Ices on Jurong Island By CHEN HUIFEN SINGAPORE'S chemical and pharmaceutical sectors got a boost yesterday in the form of a new chemical synthesis laboratory (CSL) at the Biopolis, which will help train* researchers to
      384 words
    • Article, Illustration
      Lock icon Manufacturing sector still on growth path
      430 6  -  By OH BOON PING MANUFACTURING activity picked up in October, but at a slower pace than in September. However, analysts believe the industry is still on a growth path, reflecting the positive business environment. Last month's purchasing managers' index (PMI) a barometer of manufacturing
      430 words
    • Article, Illustration
      Lock icon Running around the world in the greatest race on earth
      444 6  -  By MATTHEW PHAN THE first leg of the Standard Chartered Greatest Race On Earth (GROE) a marathon across the hills of Nairobi, capital city of Kenya has been completed. GROE is a series of four marathons in Nairobi, Singapore, Mumbai
      FILE PHOTO  -  444 words
    • Article
      Lock icon Avago plans US$1b bond to pay for Agilent unit
      274 6  -  By ROLAND LIM SINGAPORE-based Avago Technologies Finance Pte Ltd is planning to raise US$l billion in bonds, according to a Reuters report yesterday. Citing an e-mail sent to potential investors, the report said that the proceeds of the bond will be
      274 words
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  • FOCUS: FED WATCH
    • Article, Illustration
      Lock icon 'Accommodative policy': shedding light on Fed-speak
      956 7  -  COMMENTARY Interest rate levels do not seem to be a constant or reliable guide to the stance of monetary policy By CAROLINE BAUM EVER since the Federal Reserve started raising the benchmark overnight rate on June 30, 2004, the word "accommodative" has figured prominently
      A  -  956 words
    • Article
      Lock icon Federal Reserve statement
      306 7 AFP The following is the text of the Federal Reserve's statement after its policymaking panel voted to lift US interest rates by a quarter-point on Tuesday: "THE Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to
      AFP  -  306 words
    • Article
      Lock icon Inflation getting out of hand in US, warns Volcker
      480 7 AP [NEW YORK] Paul Volcker, former US Federal Reserve chairman, warned on Tuesday that inflation may be getting out of hand "and the United States better watch out". He also said that Americans are spending more than they produce which cannot
      AP  -  480 words
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      Lock icon Page 7 Advertisements Column 1
      134 7 25 OOOsf uriMfa m lu' HDB Centre! Integrated Concept cunwßnoM U U H H Wj H Br Sanitary wares, bathroom fittings wK m W I featuring ceramic and sanitary wares, bathroom fittings and «3i llv j ||M|||||[M|MMM|t accessories displayed in purpose-built units to show the products as they will ■■■■■■I
      134 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon Soft landing done: China official
      497 8 Central bank chief economist also sees pressure on yuan to rise in short term Reuters [BKIJING] China's economy has already achieved its long-awaited landing even with growth rates around 9 per cent, the central bank's chief economist said yesterday. The comments suggested no further measures
      Reuters; REUTERS  -  497 words
    • Article
      Lock icon Jakarta's curbs on inflation may hurt growth
      560 8 Inflation unlikely to spiral out of control: economists Reuters [SINGAPOBH] Bank Indonesia just can't win. Less than three months ago, markets ganged up on the rupiah when the central bank was accused of being too slow in raising interest rates. Now they worry
      Reuters  -  560 words
    • Article
      Lock icon Global plant output at highest in a year
      404 8 Reuters [WASHINGTON] Manufacturers in Europe, Japan and United States signalled the fastest growth in world industrial activity in over a year last month, overcoming concerns that soaring energy and raw material costs would hobble factory output. Price pressures, both input costs and
      Reuters  -  404 words
  • Page 8 Advertisements
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      Lock icon Page 8 Advertisements Column 1
      247 8 1 ..Xu !Moips '.%4vf H v% ;l';l Sv*' HR9B-< 2a»y% '*M\ t,jjp J2 M -liw' {-'"al |*i Atfcfc 4 ''< *x ~'i -4 > *I?*' j i* *'-*Aj -'< **|J»M(®4J 1 CRAIG TEGEL MARTINE SITBON SHEKHAR KAPUR MALCOUN MCLAREN THAM KHAIMENG BOfi ISHERWOOO REM KOOLHAAS JOHN HOWKWS Senior Director, AP
      247 words
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  • MALAYSIA
    • Article, Illustration
      Lock icon Banking on a solid reputation
      1057 9  -  Property has become Selangor Dredging's core business, PAULINE NG discovers PAULINE NG TURNING an ailing company around is not the easiest of tasks. And turning around the company your family founded is arguably more difficult. But that's what awaited Teh Lip Kim when she became
      NSTP  -  1,057 words
    • Article, Illustration
      Lock icon M'sia may produce Tamiflu locally
      355 9 Bloomberg [KUALA LUMPUR] Malaysia, whose neighbours are fighting an outbreak of avian influenza, may produce Roche Holding AG's Tamiflu locally to stockpile enough medication to treat 10 per cent of its population. The country's Health Ministry has ordered 600,000 pills of Tamiflu also known as
      Bloomberg; AFP  -  355 words
    • Article
      Lock icon Petronas earnings climb 23% in H1
      142 9 AP [KUALA LUMPUR] Malaysia's national oil-and-gas company Petronas said yesterday its net profit climbed 23 per cent on-year in half-year through September as skyrocketing oil prices offset lower output. Petronas, Malaysia's only Fortune 500 company and the country's most profitable firm, said net profit
      AP  -  142 words
    • Article
      Lock icon Maxis, Telekom share prices fall
      273 9 Bloomberg [KUALA LUMPUR] Shares of Maxis Communications Bhd and Telekom Malaysia Bhd, the country's biggest cell-phone service providers, slumped after increased domestic competition led them to cut prices, reducing earnings. The stocks may rise as the companies gain customers overseas. "The Malaysian market is already
      Bloomberg  -  273 words
    • Article
      Lock icon BURSA MALAYSIA
      2463 9 vol General Corp .0.41 unch 48 *»l W- (1M| Genting 21.50 0 90 1009 George Kent .0.60 unch 0 A* M Realty 1*0 unch 1 GHLSystems j0.11 001 380 Abric .0.30 0.01 5 Globetronics Tech 0.29 0.02 2420 ACP Industries .0.65 unch 0 Gkxnac Bhd 1.20 unch 25
      2,463 words
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  • GREATER CHINA
    • Article
      Lock icon China issues new rules to beef up quality of listed firms
      547 10 Major shareholders must pay off debts owed to listed units by end of next year AP Bloomberg ISHANGHAI] China has issued new rules requiring major shareholders of companies with publicly traded stocks to pay off their internal debts, among
      AP; Bloomberg  -  547 words
    • Article
      Lock icon China may shut down 13,000 coal mines by 2010
      387 10 Bloomberg IBFIJING] China, the world's largest coal producer, plans to shut more than 13,000 coal mines by 2010 to boost competitiveness and safety, a government official said. The government aims to reduce the number of small mines operating with outdated equipment
      Bloomberg  -  387 words
    • Article, Illustration
      Lock icon HK government may sell 57% stake in Disneyland
      241 10 AFP [HONG KONG] Hong Kong's government may sell its controlling stake in the territory's recently opened Disneyland theme park, its financial services chief told legislators yesterday. Fred Ma said the government's 57-per cent stake in the US$3 billion resort could be sold
      AFP  -  241 words
    • Article
      Lock icon Overseas investment in China's banks hits US$13b
      185 10 Bloomberg CHINA'S banks have attracted US$l3 billion of investment from overseas institutions so far, China Ranking Regulatory Commission vice-chairman Tang Shuangning said in a speech in Reijing. A total of 18 foreign institutions have invested in 16 Chinese lenders, Mr Tang told a
      Bloomberg  -  185 words
    • Article
      Lock icon Foreign brewers keen on controlling stake in Sedrin
      404 10 IHONG KONG] Foreign brewers possibly including Anheuser-Busch of the US and its Dutch rival, Heineken are in talks to buy a controlling stake in Fujian Sedrin Brewery in a deal that could value China's eighth-largest beer producer at about US$BOO million, says
      404 words
    • Article
      Lock icon US and China making progress over textile export agreement
      382 10 But US officials not certain if deal will come this week Reuters [WASHINGTON] US and Chinese negotiators are "inching closer" to an agreement that would rein in China's booming textile and clothing exports to the United States, a top US trade
      Reuters  -  382 words
    • Article, Illustration
      Lock icon Luxury brands sue Beijing's Silk Alley for 2.5m yuan
      318 10 Suit involves alleged selling of pirated goods AFP [BEIJING] Chanel and four other international luxury brands have sued Beijing's Silk Alley, visited by masses of tourists every day, for allegedly selling pirated copies of their products, state media said yesterday. The
      AFP  -  318 words
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  • INDIA
    • Article
      Lock icon Indian bank mulls purchase of Indon lender
      321 11 State Bank of India seen eyeing Bank Indomonex, its 3rd target this year Bloomberg [MUMBAI] State Bank of India, the nation's biggest lender, is considering buying an Indonesian bank, adding to the two it has acquired this year. The Mumbai-based lender is in
      Bloomberg  -  321 words
    • Article, Illustration
      Lock icon DIGITAL DIVIDE
      49 11 [BANGALORE] Cleaners walking past a booth during the closing day of the Bangalore 1T.1N2005 Information Technology Fair on Saturday The Bangalore IT.IN is the premier annual event organised by the state government to promote the information technology industry and to attract global investment in the state AFP
      AFP  -  49 words
    • Article
      Lock icon Low interest rates, globalisation fuel India housing boom
      911 11  -  COMMENTARY Rate hikes won't deter young homebuyers with tremendous optimism about future earnings By ANDY MUKHERJEE Bloomberg I I I M 27, and the ownI er of an apart--1 ment," says a I sharply dressed I young man on a billboard facing
      Bloomberg  -  911 words
    • Article
      Lock icon Mutual funds get popular among Indian investors
      490 11 Their investments in Indian equities hit US$3b this year The Economic Times [MUMBAIJ Small retail investors in India seem to have taken a fancy to equity and equity related products. This could explain the significant growth in the corpus of mutual funds and
      The Economic Times  -  490 words
    • Article
      Lock icon South Asia natural gas demand will require new supplies: ADB
      449 11 Turkmenistan alone will not be able to satisfy needs [NEW DELHI] The demand for natural gas in South Asia in the future is projected to be strong enough to require gas to be piped from both Turkmenistan and Iran, The
      449 words
    • Article
      Lock icon ONGC confident there's gas in Bengal Basin
      163 11 [KOLKATA] The delay in drilling schedule notwithstanding, Oil and Natural Gas Corporation (ONGC) is smelling gas in the Bengal Basin, Business Line reported on Tuesday. The testing results of its first exploratory well in the block are pending, but sources said that ONGC
      163 words
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  • ASIA-PACIFIC/WORLD
    • Article, Illustration
      Lock icon United neoconservatives
      824 12  -  ASIA INSIGHT Koizumi's Cabinet reshuffle indicates a disturbing alignment between Japan and the US against China ANTHONY ROWLEY Tokyo Correspondent WITH his latest Cabinet reshuffle announced this week, Japan's Prime Minister Junichiro Koizumi can be said to have "institutionalised" bias against China and Korea within the Japanese government.
      824 words
    • Article
      Lock icon Asian FTA to be expanded from July
      237 12 Bloomberg [BEIJING] China, India, South Korea and three other Asian countries agreed to extend and deepen tariff cuts starting on July 1 as part of an expanded free trade agreement. Trade ministers from the nations, including Bangladesh, and Sri Lanka, will reduce tariffs
      Bloomberg  -  237 words
    • Article, Illustration
      Lock icon DESTINATION DURBAN
      365 12  -  By Al R Dizon Round-the-World Yacht Race. Leg 2, Race 3, Day 8 THE Uniquely Singapore lost ground to the New York, but maintained its fourth position and gained some miles from leading yacht Westemaustralia as the Clipper race to Durban entered its eighth day. While the New
      365 words
    • Article
      Lock icon J&J may not close deal on purchase of Guidant
      185 12 Reuters [PHILADELPHIA] Johnson Johnson said yesterday that it may not complete its U5525.4 billion purchase of Guidant Corp, saying the recall of products at the medical device maker had hurt the value of the company. The Federal Trade Commission (FTC) yesterday
      Reuters  -  185 words
    • Article, Illustration
      Lock icon Australia receives info on 'specific terrorist threat'
      406 12 It will rush changes to anti-terror laws so police can react Reuters AFP [CANBERRA! Australia has received specific information about a possible "terrorist threat" to the country, Prime Minister John Howard said yesterday, but Australia's medium security alert remained unchanged. A staunch US
      Reuters; AFP  -  406 words
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      Lock icon Page 12 Advertisements Column 1
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      Lock icon Page 12 Advertisements Column 2
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  • WORLD
    • Article
      Lock icon US oil chiefs to testify before Senate over record profits
      683 13 Unease among both Republicans and Democrats over their earnings AP [WASHINGTON] Top executives of three major oil companies will be asked by senators next week why some of their industry's estimated US$96 billion in record profits this year shouldn't be
      AP  -  683 words
    • Article, Illustration
      Lock icon Laundress fetches US$22.5m at Christie's
      461 13 Reuters INKW YORK J It was a big night for Henri de Tou-louse-Lautrec, and Christie's International, when the auction house sold the artist's painting of a laundress for a record U5522,416,000 on Tuesday. La Rlanchisseuse (The Laundress), the most expensive painting of the annual autumn
      Reuters; BLOOMBERG  -  461 words
    • Article
      Lock icon Realty trust discloses 1.2% stake in McDonald's
      490 13 AP [CHICAGO} A day after McDonald's Corp chief executive Jim Skinner denied speculation that the fast-food chain might spin off some of its real estate holdings to boost its stock value, Vornado Realty Trust disclosed on Tuesday that it had acquired a 1.2
      AP  -  490 words
    • Article
      Lock icon US chief executive pay up by over 30% last year
      401 13 Bloomberg INKW YORKI US chief executive officers' median pay swelled by almost a third last year to US$2.4 million, doubling the rate of growth in 2003 and outpacing an increase in corporate earnings, according to a survey. The jump in
      Bloomberg  -  401 words
    • Article
      Lock icon Shareholder urges Euronext to drop LSE bid, seek Deutsche Boerse tie-up
      721 13 Reuters Bloomberg IPARIS/LONDON] Hedge fund Atticus Capital, which owns a 9 per cent stake in European bourse operator Euronext, has urged the exchange to ditch plans to take over the London Stock Exchange and seek a tie-up with rival
      Reuters; Bloomberg  -  721 words
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  • AVIATION
    • Article, Illustration
      Lock icon Delta seeks court approval to cut pilots' wages
      481 14 Airline says it still remains open to out-of-court agreement with the union AP (ATLANTA] Delta Air Lines lnc asked a bankruptcy court to allow it to impose US$325 million in wage concessions that it has been seeking from its pilots as part
      AP; AFP  -  481 words
    • Article
      Lock icon Court rejects United cabin crew's pension appeal
      329 14 AP [CHICAGO] A US federal court rejected an appeal from United Airlines' flight attendants challenging a ruling that allowed the company to terminate its pension plan. A three-judge panel of the 7th US Circuit Court of Appeals said on Tuesday that it found
      AP  -  329 words
    • Article
      Lock icon CAL cancels China Eastern investment
      215 14 Bloomberg [TAIPEI] China Airlines (CAL), Taiwan's largest carrier, said it won government approval to cancel a US$47 million investment to buy 25 per cent of China Eastern Airlines Corp's cargo unit, after failing to agree on investment details. The plan was first announced in April
      Bloomberg  -  215 words
    • LOG BOOK
      • Article
        Lock icon Air Canada may buy Boeing jets
        72 14 Reuters [MONTREAL] ACE Aviation Holdings Inc unit Air Canada said on Tuesday a binding arbitration decision resolving pilot cost issues will allow it to renew a US$6 billion plan to buy Boeingjets. A disagreement with its pilots this summer over operating issues for new
        Reuters  -  72 words
      • Article
        Lock icon Mandarin to be used at M'sian airports
        75 14 AP [KUALA LUMPUR] Major airports in Malaysia will introduce public announcements in Chinese to meet the needs of the large number of visitors from mainland China, Hong Kong and Taiwan, the government said. Mandarin, the national Chinese spoken language will soon be used
        AP  -  75 words
      • Article
        Lock icon Shandong Air's Q3 profit down
        66 14 Bloomberg [SHANGHAI] Shandong Airlines Co, partially owned by China's biggest international carrier Air China Ltd, said third-quarter profit fell because of an 8 per cent rise in the cost of jet fuel. Net income fell 19 per cent to 26.8 million yuan (555.6 million), or
        Bloomberg  -  66 words
    • Article
      Lock icon Alitalia's accounting firm won't approve H1 results
      597 14 No evidence that banks backed share sale, says Deloitte Bloomberg [LONDON] Alitalia SpA said that its accounting firm, Deloitte Touche SpA, refused to endorse its firsthalf results because it's unclear whether plans by Italy's largest airline to raise new funds needed for survival
      Bloomberg  -  597 words
    • Article
      Lock icon Virgin Blue set to report net profit of A$105m
      239 14 Bernama [MELBOURNE] Budget airline Virgin Blue is due to report an annual net profit of Aslos million (S$ 133.1 million), down from Asls9 million a year earlier. Virgin Blue has projected a profit for the 12 months ending Sept 30, 2005
      Bernama  -  239 words
    • Article
      Lock icon AIRCRAFT ARRIVALS AND DEPARTURES
      1920 14 CITY fU—T IT* FUWn ETP K359 0805 SQ408 1855 Owpinihll SQ141 1145 SQ142 0935 SHS LH9771 1845 AF8088 2215 ***** J5?| J9ii$ J£i9 ***** 1845 "Sg g{ 1 5Q?47 2235 SQ^ .■—..i—. Dhaka SQ435 0550 SQ436 2030 T-.r- SOl23 0620 AZ3993 2255 Ooh QR638 1205 0*639
      1,920 words
  • Page 14 Miscellaneous
    • Miscellaneous
      Lock icon Page 14 Miscellaneous Column 1
      330 14 CRYPTIC CROSSWORD 1 Extra food, in general (10) 9 Opposing sides accept first class form of transport (4) 10 Sporting records (10) I 11 Country in which seaman ap- JBB__ prentice turns back (6) I 2 Golfers use them for leaves (7) paper to the 16 Tank top worn by
      330 words
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  • SHIPPING
    • Article, Illustration
      Lock icon China ore ports' backlog threatens growth: shipbrokers
      700 15 Vessels waiting to unload at these ports often delayed by several days Bloomberg [BEIJING] China, the world's largest iron ore importer, needs to clear the backlogs at ports that handle commodities used for steelmaking' to reduce vessel delays and help sustain the nation's
      Bloomberg; BLOOMBERG  -  700 words
    • Article
      Lock icon TRANSPORT STOCKS
      305 15 SGX '000 Nov 2 SS ♦<- Vol CH Offshore 0.37 -0.01 80 Chuan Hup 0 79 -0.01 567 Cosco Corporation 2.29 0 09 6451 CWT Distribution 0 81 -0.03 121 Ezra Hldqs 1.36 -0.01 3100 Freight Links 0.07 0 01 172 Grand Banks Yacht 0.92 001 2 Jaya
      305 words
    • Article
      Lock icon Chinese ports seen handling 25% more cargo by 2010
      303 15 AP [SHANGHAI] With China's economy booming, its ports are projected to handle 25 percent more cargo traffic over the next five years, state media reported yesterday, citing a senior transport official. By the year 2010, cargo at Chinese ports will rise
      AP  -  303 words
    • Article
      Lock icon Toll may bid for P&O's Australian business
      176 15 Bloomberg [SYDNEY] Toll Holdings Ltd, Australia's biggest road and rail freight company, may offer to buy Peninsular Oriental Steam Navigation Co's Australian business if a hostile A 54.3 billion (555.4 billion) bid for Patrick Corp fails. "PBrO assets certainly would be something we'd
      Bloomberg  -  176 words
    • Article
      Lock icon Indon govt to merge state ship makers
      334 15 [SURABAYA] The Indonesia government plans to merge several state-owned ship makers by 2009. This follows its plan to merge state enterprises in several industries including mining, plantations and port operators the Jakarta Post cited State Minister of State Enterprises Sugiharto as saying during
      334 words
    • Article
      Lock icon Subic Drydock to set up ship repair facility
      310 15  -  By ALEC ALMAZAN in Manila THE Subic Bay Metropolitan Authority (SBMA) has entered into a long-term lease contract with a subsidiary of an American maritime firm intending to establish a US$5.O million ship repair facility at the Subic Bay Freeport. The contract
      310 words
  • Page 15 Advertisements
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      32 15 i LJJ y Get a Leading Edge m Your sailing schedules get wider attention in The Business Times shipping pages Call Bernard Ong at 6319-1645 or Michael Chng at 6319-2062 Shipping times
      32 words
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  • EDITORIAL & OPINION
    • Article
      Lock icon Koizumi should show flexibility
      544 16 EDITORIAL JAPAN'S Prime Minister, Junchiro Koizumi, is a man who sticks to his election pledges. But if this has been to his political advantage in general, it has also been to the considerable diplomatic and economic disadvantage of Japan in certain cases. Most notable among these
      544 words
    • Article, Illustration
      Lock icon It's not just more of the same, Mr Bernanke
      1331 16  -  Maintaining continuity with the Greenspan era will be a challenge for new Fed chief By ANNA BERNASEK The Washington Post FEW figures in public life succeed in maintaining both their stature and popularity over a long period of time. That's what
      The Washington Post; AP  -  1,331 words
    • Article, Illustration
      Lock icon Shocks aplenty to rock the global boats
      672 16  -  THE BOTTOM LINE PAUL SAMUELSON Tribune Media Services BACK in the classical times of Greece and Rome, the superstition persisted that "Thunder on the left means the gods are displeased with us mortals". Katrina and Rita hurricanes on the US Gulf Coast, earthquakes
      Tribune Media Services  -  672 words
    • Article, Illustration
      Lock icon Lots of talk — but no real solutions
      1014 17  - Lots of talk but no real solutions Washington intellectuals seem to have little idea of how to fix US foreign policy LEON HADAR Washington Correspondent WHEN he was once asked to define what exactly an "intellectual" was, British writer Aldous Huxley proposed that it was "a person who's found something
      AFP  -  1,014 words
    • Article
      Lock icon A leaf from China's green book
      637 17  -  By THOMAS L FRIEDMAN NYT THERE are only about 60 gold-standard green buildings in the world that is, buildings certified by the US Green Building Council as having been made with materials and systems that reduce waste, emissions and energy use at the highest
      NYT  -  637 words
    • Article
      Lock icon Jobs report not useful without detailed info
      261 17  -  LETTER TO THE EDITOR Lu, Kee Hong Singapore I RKFER to the article "Jobless rate falls to year's low of 3.3% in Q3"(BT, Nov 1). Quarter after quarter, I have been reading this jobnumber report from the Ministry of Manpower and been none
      261 words
    • Article, Illustration
      Lock icon Risky Toshiba gambit in DVD format war
      874 17  -  Encouraging Chinese competitors to crank out machines using HD-DVD could backfire By MARTIN FACKLER, KEN BELSON NYT IN THE high-stakes battle with Sony over whose format will power the next generation of DVD players, Toshiba has adopted a potentially perilous strategy: encouraging low-cost
      NYT; REUTERS  -  874 words
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  • Article
    Lock icon SINGAPORE STOCKS
    10838 18 SGX MAINBOARD 52 Wk Tel Last Vol Day Last Quote GrOtv Div GrVM Nat MCap High Low Coda Company Sate +1- COOP) High Low luyer Sailer Cvr P« Smil 8 2 5716 1st Software St 3 *0.5 57 3 2.5 2 5 3 12.1 24 6 3148 STelecom
    10,838 words
  • Page 18 Advertisements
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      55 18 JHhSF AUDEMARSPIGIIET /iKBIQfem JmbJ e maitre de I'horlogerie depuis 1875 kjjn^) a Sole Distributor Service Centre: AUDEMARS PI6UET (SINGAPORE) PRIVATE LIMITED. U 541 Orchard Road #17-00 Liat Towers Singapore *****1. Tel: 6238 6678 Fax: 6238 6676. Ngee Ann City let 6733 0618 Lucky Plan W; 6737 464« internet: http://www.audemarspiguet.com Suntec
      55 words
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  • Article
    Lock icon FINANCE & COMMODITIES
    6629 19 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In SS In USS dy yr dy yr dy %yr Nov 1 Index Change Change Change Change Change Change World Index Preliminary 914.6 0.2 7.3 01 6.2 01 2.2 t EAFE Preliminary WU 0.7 16.5 06 S3 0.6 42 Europe
    6,629 words
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  • Page 20 Advertisements
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      1439 20 1 NYK GROUP SOUTH ASIA PTE LTD vrvvr v te*****0123 XV A Aline V&agg] M 3 Km LINE Fax: 6292 2856 (Regional sales) /6239 7109(OPS)/6299 5785 (Documentation) w NIPPON YUSEN KAISHA TOKTO CKWAKU KASHA, uo. (C/R NO: **********0E) I3HI H CR#: 1378 *****00G SENATOR LINES mfffeir SIMATOR (UUL) Mo Ltd
      1,439 words
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      Lock icon Page 20 Advertisements Column 2
      514 20 IIWTOASU RORO «WVKI 1 vpsa/vor ramhkd hbghtw pkg kch ta si jkt STRAITS VENTURE 22/05 IS 3.2 27/10 30/10 03/11 06/11 01/U STRAITS VENTURE 23/05 IS 3.2 10/11 13/11 17/11 20/11 22/11 I STRAITS VENTURE 24/05 IS 3.2 24/11 27/11 30/11 03/12 05/12 j |AUfTRAUAN RORO SfKVICI 1 vßsa/vor Irarkkdi
      514 words
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  • Page 21 Advertisements
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      1239 21 *ww hamburgsud com ASIA SMYKISUN6 1 (EXPORT) ASIA SERVKE SIING 7 (IXPOUT) ETA nA VtSMi/Vwn SINGAfOtI PURIAN SiPETWA SANTOS ITAJAI PAIANAGUA Vmiol/Vw. SINGAPORE OUINOSAWS »106RAN0t SANTOS SOTTWA AKiiiko MM 307W 09/11 20/11 30/11 01/12 03/12 04/12 Marao42W 12/11 OS/12 01/12 10/12 11/12 Canti Malaga 011W 14/11 27/11 07/12 00/12 10/12
      1,239 words
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      Lock icon Page 21 Advertisements Column 2
      1232 21 VESSEL VOYHTSIN PGU HCM VESSEL VOY SIN PKG JKT GOLDEN TRAOE SISN I »7TI VII 9/11 AQDAHUA 095S 7/11 8/11 !T7TI CAFE SANTIAGO OQBN I IS/TT U/l 1 18/11 ACXRAffLESIA 111S 14/11 15/11 18/11 I GOLDEN BRIDGE SO7N I 22/11 I 23/11 125/11 ACX MAGNOLIA 097S 21/11 22/11 25/11 VESSEL
      1,232 words
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      Lock icon Page 21 Advertisements Column 3
      824 21 WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS YKStI I VOY SM PJUANG COiOjMO N. SHfVA CTMMO HOWtAH HIDGt 0046W 31 OCT 01 NOV 05 NOV 06 N0» 11 NOV tOTAPOWHIA YPWO73 07 NOV 08 NOV 11 NOV 14 NOV 17 NOV mDIKA GAWDHI OQ9BW
      824 words
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  • THE BUSINESS TIMES SHIPPING TIMES
    • Article
      Lock icon THE BUSINESS TIMES SHIPPING GUIDE EXPORT
      8299 22 ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN ost n Name Name Number Hanber SIN Desfn Mm Name Hanker Maafev 09/12 27/12 TASMAN TASMAN PROVIDER ***** *****288 TO ABIDJAN (ABJ) 2003 Cote D'lvoire 16/12 0*01 TASMAN TASMAN COMMANDER *****8
      8,299 words
  • Page 22 Advertisements
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      Lock icon Page 22 Advertisements Column 1
      682 22 VESSEL VOY SIN PGU VESSEL VOV SIN JKT PAC iANPA 1592W 02/11 03/11 PAC UNTAN 9323 ~OS7TI 08/11 CSF 2301 0194P 03/11 04/11 PACIAU 4191 07/11 10/T1 PAC PANDA 1593N 04/11 04/11 Wt WW Mi PAC lANPA IS94N 05/13 Q5/11 fffff}.., ZmZZZMZZ PAC lANPA li?5N 04ZU 07/11 CSF 2301 0196P
      682 words
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      Lock icon Page 22 Advertisements Column 2
      959 22 WAN HAI MIERNATIONAL PH LID a m 14M*****00/R W\ WAN HAI LINES V V WWI%WM llfll HO 1H: H8) 334MN1 HUk 103) ***** M PBI HM) *****00 Ml 104)*****11 JOMIH: (07) 251W23NUL (07)*****21 SB li 1031) *****75 NUII031) *****14/ *****05 WWW weefcel *T*:»21) $2541 una 1071) $*****0 PU« I* *****0/*****1
      959 words
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      Lock icon Page 22 Advertisements Column 3
      405 22 BSA ik MYANMA FIVE STAR LINE (Myanmor National Line) loading for Tango* VESSEL VOY SIN PKL PIN PGU PAGAN 348W SID PAGAN 349W SU> IN MALAYSIA: IOUSTIAD SHIPPING AGENCIES KUL/PKL: 03-*****348 PEN: 04-*****1S ACCEPTING CONVENTIONAL C6O VESSEL VOY HKG SIN PGU PKL KUC DON HEART 139 SID SU) SU> COCOA
      405 words
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  • BizIT
    • Article, Illustration
      Lock icon Govt's ICT plan a boost for S'pore firms: EDS
      687 24  -  Huge project to standardise and outsource govt's infocomm technology requirements will raise capabilities of local industry, Stephen Yeo, regional chief of EDS Asean, tells AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY THE government's plan to standardise and outsource its front-end ICT (infocommunications
      687 words
    • Article
      Lock icon EDS reports profit in Q3 as orders mount
      334 24 Reuters [BOSTON] Electronic Data Systems (EDS) Corp reported a Q3 profit, recovering from a year-earlier loss as it won new orders from the British government, Allegheny Energy and several other big companies. It signed US$5.3 billion in new contracts during the quarter,
      Reuters  -  334 words
    • Article
      Lock icon Global BPO market to cross US$641b by 2009
      337 24  -  By RAJU CHELLAM THERE'S a new buzz in the BPO (business process outsourcing) global space, with high demand and rising expectations from client companies and more competition from vendor firms, says the latest report from IDC Corp. The global market for BPO
      337 words
    • Article, Illustration
      Lock icon MediaTek sees 10% rise in Q4 sales
      363 24 But gross margin will remain at Q3's 55.7%, it says Bloomberg [TAIPEI] MediaTek Inc, the world's largest maker of chips for DVD players, said that fourth-quarter sales will rise 10 per cent from Q3 on demand for semiconductors used in cellphones. The company's
      Bloomberg; AFP  -  363 words
    • Article
      Lock icon Microsoft's 'Windows Live' to counter Google, Yahoo
      336 24 LAT-WP [WASHINGTON] Microsoft Corp has made its most forceful move so far to counter the success of Internet giants Google and Yahoo, unveiling a web destination for computer users who want to create a home page of continuously updated information on any topic.
      LAT-WP  -  336 words
    • Article
      Lock icon STMicro expects chip market to grow 8%
      180 24 Reuters [TOKYO] STMicroelectronics, the world's sixth-larg-est chipmaker, expects the global chip market to grow 8 per cent in 2006 and it aims to grow faster than that, STMicro's CEO Carlo Bozotti said. "Last year the market grew 28 per cent. This year the
      Reuters  -  180 words
    • Article
      Lock icon Sun's Q1 loss narrows as sales rise 3.7%
      252 24 Bloomberg [LOS ANGELES] Sun Microsystems Inc, the world's No 4 maker of computer servers that run networks, posted a narrower fiscal first-quarter loss after production costs fell. Sales trailed analysts' estimates. The net loss shrank to US$l23 million, from US$l33 million a
      Bloomberg  -  252 words
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  • PROPERTY
    • Article, Illustration
      Lock icon US homeowners set to cash out US$204b
      372 25 They're tapping into rising property values for more cash: report Bloomberg [BOSTON] US homeowners will turn a record US$2O4 billion of real-estate equity into cash this year by refinancing mortgages at higher balances to tap gains in rising property values, a report showed.
      Bloomberg; BLOOMBERG  -  372 words
    • Article
      Lock icon California household incomes falling behind home prices
      314 25 Reuters [SAN FRANCISCO] A median-income household in California falls U5573,810 short of the income level needed to buy a median-priced home in the state's overheated housing market, according to a report released on Tuesday. The California Association of Realtors' report underscored a dramatic
      Reuters  -  314 words
    • Article
      Lock icon Househunt PROPERTY TRANSACTIONS BETWEEN OCT 26 AND NOV 1. 2005
      2454 25 PROJECT NAME/ PROP CONTRACT TENURE 8UIII-W/IAND PRICE PSF STREET NAME TYPE DATE AREA*(SQ FT) ($$'000) (S$) District 1 NON-LANDED The Sail At Marina Bay Apt 12/10/2005 99 936 1226 1309 The Sail At Marina Bay Apt 10/10/2005 99 1033 1415
      2,454 words
    • Article, Illustration
      Lock icon Undeterred by bubble threat
      1195 26  -  SAMUEL SHEN says China has cooled down the real estate market, but foreign investors are looking at the long-term SAMUEL SHEN [SHANGHAI] SHANGHAI built more skyscrapers in 15 years than New York did in a century, Beijing has the equivalent of three Manhattans under construction, and
      AFP  -  1,195 words
    • Article
      Lock icon Prosperity Reit likely to see 9% profit growth: JP Morgan
      374 26 Reuters [HONG KONG] Prosperity Reit, a Hong Kong property trust that will hold seven buildings now owned by Cheung Kong and Hutchison Whampoa, is expected to see its distributable profits rise by about 9 per cent a year in the
      Reuters  -  374 words
    • Article
      Lock icon Club Med strikes property deal with French firm
      229 26 Reuters [PARIS] Club Mediterranee has sold four vacation villages to French property firm Gecina for 225 million euros (***** million) in a deal that will return it to break even for the first time in five years, it said yesterday. The deal
      Reuters  -  229 words
    • Article, Illustration
      Lock icon CapitaLand to launch Tanjung Rhu condo
      369 26  -  Its 3rd residential project RiverEdge, involves 77 units at $590 psf By ALEXANDRA HO PROPERTY giant CapitaLand is gearing up for its third residential launch this year. On Saturday, it will publicly release 77 units at its 99-year leasehold RiverEdge condominium in Tanjong Rhu
      369 words
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