The Business Times, 14 December 2005

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Total Pages: 30
1 30 The Business Times
  • 15 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 089/03/2005 Wednesday, December 14,2005
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  • 811 1  -  But rapidly rising price expectations among owners could dampen market next year By KALPANA RASHIWALA [SINGAPORE] With just two weeks to go before year's end, the value of collective property sales done so far has hit $1.9 billion. This is more than
    811 words
  • 135 1 Dsn 2.323.97 (743) ST INDEX FUTURES 2.325.00 (-8.00) simso 274.79 (-0.23) SIMSO FUTURES 275.40 (-0.70) MARKETS Tuesday Change KLSECOMP 898.27 +1.26 NIKKEI 225 15,778.86 +40.16 HANG SENG 14.942.62 -41.78 SET INDEX 693.48 -4.26 JAKARTA COMP 1,182.03 +7.02 MANILA COMP 2,099.04 -2.36 SEOUL COMP 1,336.48 +3.25 SHENZHEN B 190.85
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  • 760 1  -  ASEAN SUMMIT But talks with India, Japan need to be stepped up: leaders By NANDE KHIN in Kuala Lumpur ASEAN's relations with two of its dialogue partners South Korea and Russia got a boost yesterday with the signing of three pacts.
    AFP  -  760 words
  • Page 1 Advertisements
    • 42 1 WTO SUMMIT REITS Are fees eating up your profit? PG 28 8 BT ONLINE BT print subscribers get free access to the Business Times Online. To activate your account, log on to http://business-times.asial .com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838.
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    • 24 1 '-JIA. Arii.frMr Hf >.'■■■ MOBILE SUBSCRIBERS Sing Tel to target youths, X foreigners pg 7 CASINO CONTROL BILL Social safeguards dominate public feedback PG3 jMybfiS''"
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  • TOP STORIES
    • 450 2 Move applies to those who trade yuan shares, bonds Bloomberg [BEIJING] China scrapped the capital gains tax on foreign investors in the nation's local-currency securities, the latest attempt to revive stock markets that have lost more than half their value in the
      Bloomberg  -  450 words
    • 741 2  -  WTO SUMMIT Expectations of success are low as groupings dig in their heels By ANNA TEO in Hong Kong AMID the sound and fury from protesters, the World Trade Organization's sixth ministerial conference got underway yesterday with its chief urging trade
      AP  -  741 words
    • 447 2 Social safeguards attract bulk of feedback views MAKE changes to the casino entry levy for Singaporeans, impose limits on the amount they can gamble and prohibit automated-teller machines in integrated resorts, not just in the casinos. These were among the 60 responses submitted on the draft Casino Control
      447 words
    • 609 3  -  HARRAH'S-KEPPEL DEAL WITH SUNTEC SINGAPORE By ALEXANDRA HO [SINGAPORE] Ninety days was all it took for the Harrah's Entertainment and Keppel Land consortium to conclude an exclusive agreement with Suntec Singapore International Convention and Exhibition Centre. Besides cooperating to
      ARTHUR LEE  -  609 words
    • 557 3  -  CASINO CONTROL BILL Ministry says it will consider the various views in final draft By ALEXANDRA HO [SINGAPORE] Make changes to the casino entry levy for Singaporeans, impose limits on the amount Singaporeans can gamble and prohibit automatedteller machines in integrated resorts (IRs), not just
      557 words
  • Page 2 Advertisements
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  • COMPANY NEWS
    • 567 4  -  FOCUS ON CAO RESCUE Parent CAOHC, with about 60% stake, says it intends to vote for proposal By WONG WEI KONG, MICHELLE QUAH THE equity restructuring plan proposed by China Aviation Oil (Singapore) is expected to sail through the extraordinary general meeting
      BLOOMBERG  -  567 words
    • 605 4  -  HOCK LOCK SIEW By MICHELLE QUAH THE situation of China Aviation Oil (CAO) has thrown up an interesting poser: should its parent company and controlling shareholder be allowed to vote in favour of its restructuring, thereby securing the best possible future for CAO, even
      605 words
    • 239 4 HEART stent maker Biosensors International said yesterday it is being sued in the Netherlands for patent infringement by US-based Boston Scientific Corporation (BSC) and Canadian company Angiotech Pharmaceuticals. In a statement, Biosensors said that BSC and Angiotech allege that Biosensors' Axxion Stent infringes
      239 words
    • 407 4  -  By SIOW LI SEN WITH the clock ticking on its divestment schedule, United Overseas Bank continues to deliver shares in associate United Overseas Land (UOL) to bondholders. In a filing to the Singapore Exchange yesterday, property company UOL said UOB has reduced its
      407 words
    • 284 4 THE Ascott Group, which owns 30 per cent of The Ascott Beijing Beijing's largest top-end service residence has acquired the remaining 70 per cent stake from a GIC Real Estate affiliate company. And as part of its growth plan in China, the service residence
      284 words
    • 317 6  -  IPO WATCH Offer's undersubscription sees share spread falling short By SIOW LI SEN THE initial public offer by Chasen Logistics has been undersubscribed the latest victim of IPO weariness as investors turn their backs on company flotations. Chasen, a company which specialises in precision relocation
      317 words
    • 271 6  -  By LESLIE YEE UNITS related to two of the underwriters of the mega initial public offering of Singapore Power's SP AusNet ÜBS and DBS Bank have shown strong support for the IPO. The offering of 1.025 billion securities raised A
      271 words
    • 636 6  -  NEWS ANALYSIS By LESLIE YEE INVESTORS in real estate investment trusts (Reits) appear unfazed by the announcement on Monday that the $676 million initial public offering (IPO) of Macquarie International Real Estate Fund (Miref) is being postponed because of factors including "concerns over
      REUTERS  -  636 words
    • 266 6 Popular Holdings' Q2 net profit plunges 64.1 PUBLISHING and education group Popular Holdings posted a 64.1 per cent fall in net profit to $1.1 million for its second quarter ended Oct 31, from $3 million in the corresponding period previously. The profit plunge was despite a marginal 2.3 per cent
      266 words
    • 489 7  -  Move to widen its reach to help offset fall in mobile subscriber base By ANGELA TAN SINGAPORE Telecommunications plans to target young people and foreigners to help offset the decline in its mobile subscriber base, Lim Chuan Poh, chief executive officer of Sing Tel
      FILE PHOTO  -  489 words
    • 281 7  -  By LEE KIM SIANG SINGAPORE Technologies (ST) Electronics* subsidiary, ST Education Training (STET), has been awarded a $2.3 million contract to provide homeland security consultancy services to the Qatar Security Service Company (QSSC-Himaya). QSSC-Himaya is a stateowned company that is responsible for all security
      281 words
    • COMPANY BRIEFS
      • 117 7 HANGZHOU Eastcom Cellular Phone Co Ltd (HECP) has extended its equipment management facility agreement with Autron Corporation Ltd following the completion of a previous agreement. The new three-year contract, worth another US$2O million, expires in November 2008. "The earlier agreement worth US$2O million, which was intended
        117 words
      • 111 7 GP BATTERIES International has announced that the factory of its 49 per cent-owned associated company, Ningbo GP Sanyo Energy Co Ltd in Ningbo, China, caught fire on Dec 9. The fire was put out within three hours, according to the company. There were
        111 words
      • 98 7 MAINBOARD-LISTED Mediaßing said yesterday that it has, together with an Indonesian partner, signed a sale and purchase agreement to acquire 100 per cent of PT Atlasat Solusindo, a licensed Indonesian VoIP (Voice over Internet Protocol) service provider. Under the agreement, Mediaßing will acquire 95 per
        98 words
    • 223 7  -  By AMIT ROY CHOUDHURY THE Infocomm Development Authority of Singapore (IDA) has awarded a $6 million contract to Frontline Solutions to deploy and manage desktop firewall solutions for the public sector. Cafe, short for Centrally Administered Desktop Firewall project, is one of the largest
      223 words
    • 316 7 [JAKARTA/HONG KONG] Singapore-listed United Fiber System has signed the outlines of a takeover deal with the owners of a controversial Borneo pulp mill, scoring a victory over rival suitor JPMorgan, the Financial Times quoted people close to the discussions as
      316 words
  • Page 4 Advertisements
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  • Page 5 Advertisements
    • 1758 5 This announcement appears as a matter of record only December 2005 Not for distribution or release in the United States SPAusNet A member of Singapore Rower Group Each Security consists of: A unit in A share in A share in SP Australia Networks (Finance) Trust SP Australia Networks (Transmission) Ltd
      1,758 words

  • Page 6 Advertisements
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  • Page 7 Advertisements
    • 266 7 v International Enterprise Forum (IE Forum) is Asia's premier event on internationalisation that brings together today's most respected thought leaders and entrepreneurs to shed light on the strategy of bringing local businesses to the world. IE Forum 06 will feature international business guru Ram Charan, co-author of the best selling
      266 words

  • SINGAPORE MARKETS
    • 892 8  -  CURRENCIES Key round-number supports for the currency have come under fire LARRY WEE Senior Correspondent IT'S that time of the year when thin trading and poor liquidity can make for volatile currencies, and an unsavoury combination of factors could find the US
      892 words
    • TRADES TO WATCH
      • 411 8 THE controlling shareholder of Lee Kim Tah Holdings. Lee Kim Tah Investments Pte Ltd. has increased its direct stake in the construction company through an open market jyufchase of 135,000 shares a| about 86.4 cents apiece. This raised the
        411 words
      • 64 8  -  Compiled by AMIT ROY CHOUDHURY SUBSTANTIAL shareholder of plastic injection moulding company TTL Holdings, Tan Boon Tiong Tan BqnJion4 has reduced his deemed interest in the company from 13.8 per cent to 5.69 per cent through a series of married sales on Monday.
        64 words
    • Article, Illustration
      442 8 OTHER SINGAPORE INDICES Dec 13 VALUE CLOSE BT OB/OS 32.00 +60.00 BTCAPt -*****.00 -33.00 BT 10-day MA -*****.00 +3.00 All-SG Equities 592.59 -0.30 SG Equities Elect 127.53 -0.38 SG Equities Fin 1711.00 +5.53 SG Equities Prop 704.43 -0.19 SIMSCI 274.79 -0.23 SiMSCI Futures 275.40 -0.70 MOST ACTIVE STOCKS VOLUME Gen
      442 words
    • 248 8  -  Compiled by UMA SHANKARI Singapore Exchange Dec 13 close: $2.78 CIMB-GK RESEARCH. Dec 13 WE are raising our EPS estimates by 9-15 per cent, on higher market volume assumptions. Market volumes in 2Q06 remain fairly strong. With a buoyant market, we have raised our FYO6 daily market volume
      248 words
    • 407 8  -  STOCKS Lethargic market reflects the absence oftradeable themes R SIVANITHY Senior Correspondent WITH a thirteenth consecutive US interest rate hike looming and given an absence of tradeable themes currently in the market, it probably came as little surprise that the Straits Times Index yesterday surrendered
      407 words
    • 200 8  -  CHART POINT By YEO KEE YAN, chartist at Kelive Research WITH market players paring down ahead of the holiday season, trading activity in the first two weeks of December has been slow. However, despite the current lull in volume activity, the
      200 words

  • SINGAPORE NEWS
    • 1054 9  -  They account for $485m or 25% of $1.9b in collective sales this year By KALPANA RASHIWALA COMPANIES in the stable of United Overseas Bank chairman Wee Cho Yaw have been the biggest buyers of collective sale sites this year. United Overseas Land,
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    • SINGAPORE ROUNDUP
      • 77 9 SINGAPOREAN photographer Russel Wong has been named as one of the five Martel] Elite of the Year which recognises qualities such as discernment, the pursuit of the best quality in life and the innovative vision to achieve great things. The other winners are designer Alan
        77 words
      • 44 9 IN a joint initiative by SP Services and 7-Eleven, starting from yesterday customers will be able to pay their SP Services utility bills using cash, Nets or cashcard at any of the more than 300 7-Eleven stores islandwide.
        44 words
    • 545 10  -  They will operate beyond Asia in North America and Europe By CONRAD TAN THE next two to three years will see the rise of Asian companies that are truly global, some business strategy gurus believe. These companies will operate not
      BLOOMBERG  -  545 words
    • 222 10  -  By UMA SHANKARI SMEs that make oil and gas equipment should cash in on the strong marine industry worldwide, says government agency Spring Singapore. The director of Spring's transport, logistics and environmental engineering division, Victor Tay, said at a networking session yesterday
      222 words
    • 402 10 Reuters SINGAPORE retail sales probably rose in October from September, due to higher car sales and increased spending by tourists, a poll showed yesterday. The median estimate of six economists was for the retail sales index, due to be released
      Reuters  -  402 words
  • Page 9 Advertisements
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  • ECONOMY WATCH
    • 503 11 Census discovers understatement of US$300 billion [BEIJING] China's booming economy, already the seventh largest in the world, has been understated by as much as US$3OO billion, the country's first nationwide economic census has discovered, says a report in the South China Morning Post. The sum, equal to
      REUTERS  -  503 words
    • 376 11 AFP [WASHINGTON] The Federal Reserve was expected to lift US interest rates for the 13th time running at its meeting yesterday, but debate about when to call a halt to the tightening campaign is reaching a climax. The meeting of
      AFP  -  376 words
    • 444 11 Strong domestic demand helping to boost economy AFP [TOKYOJ A key survey of Japanese business confidence is expected today to show rising corporate optimism as robust domestic demand helps haul the world's No 2 economy out of a decade-long quagmire. With the Tokyo stockmarket
      AFP  -  444 words
  • Page 11 Advertisements
    • 250 11 «'I• N You'd be all smiles with PHILIPS Sonicare® Sonicare is clinically proven to be an effective fighter against gum disease. In fact, it is able to reverse gingivitis* and help shrink periodontal pockets**. Thanks to its high frequency brushstrokes and extra-wide sweeping motion, you can clean hard-to-reach areas, below
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  • MALAYSIA/INDONESIA
    • 502 12  -  Malaysia's first ever trade pact offers preferential market access By PAULINE NG in Kuala Lumpur MALAYSIA has formed its first-ever irade pact with another country Japan. Malaysia and Japan yesterday signed a wide-ranging Economic Partnership Agreement (EPA) which promises to boost bilateral trade
      AP  -  502 words
    • 415 12 It plans to build 12 plants, the first to be ready in 2007 [KUALA LUMPUR] Malaysia will announce several incentives for the biodiesel sector this month, Malaysia's Business Times reported Plantation Industries and Commodities Minister Peter Chin as saying on Monday. He said
      415 words
    • 205 12 AP [JAKARTA] A former Indonesian chief detective who led a probe into massive corruption at a state-owned bank was yesterday formally named a criminal suspect in connection with the investigation. TWo other senior officers who worked the case were also declared
      AP  -  205 words
    • BRIEFLY ASIA
      • 62 12 Reuters [MUMBAI] Public relations firm Burson-Marsteller, a subsidiary of WPP Group pic, on Monday said it had acquired Indian public relation firm Genesis. Genesis, with 200 employees, has a nationwide network and handles a variety of clients across sectors. The new company will be named Genesis/Burson-Marsteller,
        Reuters  -  62 words
      • 72 12 Reuters [SHANGHAI] China will cut import tariffs on over 100 items, including vegetable oils, chemical raw materials, vehicles an(J automotive parts, from Jan 1, the finance ministry said yesterday, to better align the country with world markets. From next year, exports of textiles
        Reuters  -  72 words
      • 82 12 Reuters {JAKARTA] Indonesia's economy could sustain annual growth of 6-7 per cent in the medium term, a senior official of the International Monetary Fund said yesterday. Stephen Schwartz, IMF senior resident representative, also said {he annual inflation rate should be around 8 per cent
        Reuters  -  82 words
      • 63 12 Reuters [MUMBAI] Indian software services firm HCL Technologies Ltd said yesterday it had entered into a five-year agreement with EXA Corporation, enabling it to tap into Japan's estimated US$lOO billion systems integration market. EXA, a joint venture between IBM Japan and leading Japanese steel
        Reuters  -  63 words
      • 65 12 Bloomberg [NEW DELHI] India's income tax department is seeking bids from consultants for advice on how to reorganise itself and improve compliance and collections. The department is "initiating a business process reengineering project which would involve fundamental rethinking and radical redesign of existing
        Bloomberg  -  65 words
      • 67 12 Bloomberg [KUALA LUMPUR] Sime Darby, Malaysia's biggest diversified group, plans to sell RM3OO million (Ssl 33 million) of Islamic bonds to fund acquisitions, according to an e-mail from one of the arrangers. The group will sell securities maturing in four years, priced to
        Bloomberg  -  67 words
  • Page 12 Advertisements
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      1,766 words

  • INDIA
    • 366 13 Money may be used to revive sick public sector units Bloomberg INEW DELHI] India's government is seeking special dividends from profitable state-run companies that have surplus cash, a part of which may be used to revive "sick" public sector units, Finance Minister P Chidambaram
      Bloomberg  -  366 words
    • 494 13  -  INDIA INSIGHT ASHOK KUMAR In Mumbai PHARMACEUTICAL multinational companies (MNCs) are caught up in a dead-heat race to land and set up operations in India first. The primary trigger for this is the change in the country's patent laws. The Indian media
      494 words
    • 183 13 Bloomberg [NEW DELHI] Malaysia has offered to invest RMIO billion (554.46 billion) in Indian roads, ports and other infrastructure, a top Indian diplomat said. The offer was made by Malaysian Works Minister Samy Vellu during discussions between Indian Prime
      Bloomberg  -  183 words
    • 255 13 Bloomberg [TOKYO] Merrill Lynch Investment Managers Co raised 89.3 billion yen (551.24 billion) for an Indian stock fund tailored for Japanese clients, raising the most amount of money this year among the nation's mutual funds. Daiwa Securities Group Inc, Japan's second-largest
      Bloomberg; Source: Bloomberg  -  255 words
  • Page 13 Advertisements
    • 205 13 Diners Club Card To apply, ca*****6 0980 I A World of Exclusive Privilege* Treat• Diners Club International' X No need to dress-up for a X'ams Dinner this year II Simply Good Food, and Good Wines (free flow) ail Inclusive U ■HHIHHHHIMHHMHHBHHRHBMBHMHBHHBfIHHiI Special Menu by Executive Chef Foo uflsparagus cuti/i C7urj£ey
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    • 167 13 m 'Tavern QfasaifaftkA fc 6959 Tost Coast Xpad, S4S9t^ A J| Cfiristmas *£ve Dinner I \A K, Ckristmas Day ■B I Htw year's 'Eve Dinner $60**+ %\ihir .11 iit'ii IMT iifiii Willi I Irrr rlmur t>l i«l I rr/ira/sol Hi ri ill. s Menu Nasi Goreng Istimewa 9 Hainanese Chicken
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    • 80 13 40 Holland Grove Rd. Tel: *****053 A New Asian Tanas Bar Opens 19 December 2005 on Orchard Road I e- 3'\ 1.17M*ME^BAR EAT DRINK CHILL v MINGLE II I I I ,un i>un urdi I I .tin {.ini illuns. sal. rw ol |»til»li< Imlid.n puhlii Itolid.n i Enquiries: *****288 Ml
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  • GREATER CHINA
    • 700 14 Renminbi will rise in next 1-2 years: central bank adviser Reuters. AFP [BKIJING] An adviser to China's central bank said yesterday that Chinese firms should get ready for a strengthening of the yuan. "My suggestion is that companies make preparations for an appreciation
      Reuters.; AFP; REUTERS  -  700 words
    • 272 14 AFP [BEIJING] Speculative copper trading involving a Chinese government body has caused heavy losses, the nation's top banking regulator said in comments reported yesterday. Speaking at a finance seminar in Beijing on Monday, China Banking Regulatory Commission chairman Liu Mingkang included China's
      AFP  -  272 words
    • 127 14 Reuters [SINGAPORE] Shanghai Pharmaceuticals Group, one of the biggest companies in China's US$lO billion drugs industry, wants to sell a large stake to foreign buyers to raise capital for expansion and stave off competition, the Financial Times reported. The state-owned firm has held preliminary
      Reuters  -  127 words
    • 460 14 Domestic investors' lack of confidence cited as snag Reuters [SHANGHAI] China has no time frame for resuming initial public offerings on its primary bourses, state media said yesterday, citing the country's top securities regulator. "There is no timetable," Shang Fulin, chairman of the
      Reuters  -  460 words
    • 241 14 Reuters [BEIJING] Chinese offshore oil and gas firm CNOOC denied that its general manager had said that the company was interested in the assets of Russian oil group Yukos, as reported by the Shanghai Securities News last week. Fu Chengyu had not
      Reuters  -  241 words
    • 2202 14 Vpt General Corp 0.42 unch 60 8,11 —I nt Geoting JO JO 030 1793 George Kef* 330 0.01 42 AftM Realty 147 i**h 0 GHl System 0.10 -0XJ1 88 Abnc 030 unch 6 GiobetronoTech 333 unch 451 ACPMatrias 366 -0.04 13 GlomacBhd 1.06 undi J 46 AtfencaSynargv 032
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  • Page 14 Advertisements
    • 217 14 ALCO 1 Limited (a company incorporated with limited liability in the Cayman Islands) Series 1 U5D29,550,000 Class A 1 Floating Rate Notes due 2009 (the "Class A 1 Notes") 5GD30,000,000 Class A 2 Floating Rate Notes due 2009 (the "Class A 2 Notes") U5D12,150,000 Class B1 Floating Rate Notes due
      217 words

  • ASIA-PACIFIC/WORLD
    • 521 15 No 3 US energy company makes big gamble on future of natural gas AP. Reuters [HOUSTON] ConocoPhillips Co, the third biggest US energy company, will acquire oil and gas producer Burlington Resources Inc, in a deal worth U5535.6 billion, the Houston-based companies announced on
      AP.; Reuters  -  521 words
    • 408 15 LATEST US DATA Bloomberg [WASHINGTON! US retail sales rose last month as automobile purchases rebounded and cheaper petrol buoyed consumer confidence and left people with more money to spend on holiday gifts. The 0.3 per cent rise matched the increase in
      Bloomberg  -  408 words
    • 540 15 Downgrading sends US auto giant's shares, bonds lower Reuters [NEW YORK] A bankruptcy by General Motors Corp (GM) is not "far-fetched" if present trends at the company persist, Standard Poor's said on Monday, shortly after cutting the world's largest automaker's ratings deeper into junk territory.
      Reuters  -  540 words
    • 373 15  -  CUPPER RACE WEEKLY ROUNDUP By BT journalist and sailor Vincent Wee On board Uniquely Singapore THE dawn race position schedule yesterday brought bad news, with die Uniquely Singapore Clipper dropping down to ninth place. Not that it was totally unexpected, as we have gradually
      373 words
    • 371 15 Reuters [LONDON] The London Stock Exchange's (LSE) biggest shareholder has bought shares in the exchange at 615 pence 35 pence higher than a takeover proposal from Australia's Macquarie Bank values the company. Threadneedle Asset Management bought the 295,981 shares on Friday, according to
      Reuters  -  371 words
    • 228 15 AFP. AP [BANGKOK] Thai Prime Minister Thaksin Shinawatra's family are the richest shareholders in the kingdom's stock market. Their shares are worth 33.2 billion baht (551.35 billion), a survey showed yesterday. The family of Thaksin Shinawatra, who built a telecommunications empire before entering politics,
      AFP.; AP; THE NATION  -  228 words
    • WORLD WATCH
      • 81 15 Bloomberg [NEW YORK] Bain Capital and two investment firms have agreed to buy Pernod Ricard SA's restaurant business, including Dunkin' Donuts, for U552.43 billion and will expand to take on Starbucks Corp. The buyout firm will acquire Dunkin' Brands Inc with Carlyle Group and
        Bloomberg  -  81 words
      • 79 15 AFP [MOSCOW] Russian President Vladimir Putin has offered the top post at the Rosneft oil company to former US commerce secretary Donald Evans ahead of the firm's partial privatisation on the stock market, the Kotnmersant newspaper said yesterday. Mr Evans, who served in President George
        AFP  -  79 words
      • 110 15 Reuters [LONDON] Royal Dutch Shell pic is having to raise its annual investment by at least US$4 billion in 2006 and in the years following as costs soar and the firm tries to turn round its industry-lagging record for finding new oil, the company
        Reuters  -  110 words
      • 92 15 Reuters [LONDON] British telecoms operator BT Group pic said yesterday that it would become Italian carmaker Fiat's global telecommunications provider in a contract worth 450 million euros (Ss9oomillion) over five years. BT also said that it had purchased Fiat's Italian telecommunications firm Atlanet
        Reuters  -  92 words
      • 35 15 AFP [ISTANBUL] British telecommunications giant Vodafone made the highest bid of U554.55 billion in a hotly contested televised auction yesterday for Telsim, the second-biggest Turkish mobile telephone operator. —AFP
        AFP  -  35 words
      • 70 15 Reuters [OSLO] Norwegian oil driller Smedvig's main owners have sold a 28.9 per cent stake in the company to US oilfield services group Noble Corporation in a deal worth about U*****.7 million, the firms said yesterday. Peter Smedvig and family sold almost 21.1 million series-A
        Reuters  -  70 words
  • Page 15 Advertisements
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  • AVIATION
    • 476 16 Searching for explosives should be the priority, says top official Reuters [WASHINGTON] A top United States security official acknowledged on Monday that small scissors and screwdrivers can be used as weapons aboard aircraft but defended the government's decision to again permit
      Reuters; REUTERS  -  476 words
    • 376 16 In talks with Laos but yet to discuss with Myanmar Bernama [JAKARTA] Low-cost airline Air Asia plans to expand its services to Laos and Myanmar as soon as it gets approval from the two governments, says its group chief executive officer, Tony
      Bernama  -  376 words
    • 290 16 AFP [NEW DELHI] As many as 11 pilots, citing concerns over the safety of ageing planes, have resigned in the last two months from Indian Airlines budget arm, Alliance Air, a news report said on Monday. The Times of India
      AFP  -  290 words
    • 311 16 Reuters [SEOUL] South Korea's top airline. Korean Air Co, resumed full flight services yesterday after the government ordered at the weekend its unionised pilots to end a four-day strike and return to work. All cargo and passenger flights for both domestic and
      Reuters; REUTERS  -  311 words
    • 270 16 Bloomberg [HONG KONG] Cathay Pacific Airways Ltd, the world's fourth-largest air freight carrier. is considering building its own cargo terminal at Hong Kong's airport as rising global trade increases the movement of goods. The Hong Kong-based airline, which derives about 25 per cent of
      Bloomberg  -  270 words
    • 585 16 OIL FUWT IT* FUMCT UP M143 1535 SJIft MO LW9771 1745 UM7» 2350 A »J? Jf 3ftll 38 11 i 3[jH I if *«■■*>■ CA957 0055 CA9M 0745 ill J1 ®#*il I?411 I! 3Bl MS Krai UM771 BOO 1 1 i 1 lis m l ij-i
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  • Page 16 Miscellaneous
    • 191 16 CRYPTIC CROSSWORD reasonaW follow 30 Good leaders that show no re- 8 With Wisden you might get YESTERDAY'S SOLUTION sistance. (15) even Across: 1 Cover charge, 9 EndoDOWN 15 nniH ic.\ crine 10 Arena, 11 Around, 12 1 Those responsible for road 9 Get aaa n afte? Roaer Postmark, 13
      191 words

  • SHIPPING
    • 403 17 Imbalance will drive down global freight rates for commodities Reuters [LONDON] China's growth in demand.for seaborne commodities is likely to be only a ninth of new ship capacity coming on stream in the next two years according to a top analyst,
      Reuters  -  403 words
    • 201 17 [SINGAPORE] PSA International handled 8.4 per cent more containers in Singapore in the first 11 months this year from a year earlier, bolstered by increased global trade. The container terminal operator handled 20.37 million 20-foot standard containers at its Singapore terminals in January
      201 words
    • 604 17 Asbestos-riddled French ship a health hazard they say AFP [TOULON, France] A lone Greenpeace activist was camped out aboard a decommissioned French aircraft carrier early yesterday after a larger protest against plans to send the asbestos-riddled ship to India for scrapping, the environmental group said. Originally
      AFP; REUTERS  -  604 words
    • 827 17  -  STRAIT TALK By DAVID HUGHES WITHOUT the shipping industry, world trade would simply not happen. The vast majority of world trade is carried on ships. The industry is global, worth billions, and an employer of labour around the world. So that means
      827 words
    • 397 17 Bernama [KUALA LUMPUR] Road Builder (M) Holdings Bhd expects its port division to spearhead the group's growth in the next three years, riding on several major developments on its Kemaman Port, the company's managing director, Low Keng Kok, said last week. "Prospects
      Bernama  -  397 words
    • 290 17 mt *000 Dec 13 SS W- Vol CH Offshore .0.36 -0X>1 1021 ChuanHup .0.37 -OOI 1168 Coco Corporation 226 -0.03 1874 CWT Distribution .003 unch 27 EzraHldgs 1.41 -0.02 306 Freight Units 0.06 unch 428 Grand Barks Yacht...' .0.90 0.02 47B )aya Holdings 1.22 unch 648 Kf Venture
      290 words
    • 156 17 Reuters [HONG KONG] Hutchison Whampoa Ltd's port operating arm, Hutchison Port Holdings (HPH), said yesterday it will buy a majority stake in a container terminal in Spain, in its third port acquisition in less than five weeks. HPH said it has signed an agreement
      Reuters  -  156 words
  • Page 17 Advertisements
    • 98 17 Asia Singapore Expo makitime www.apmaritime.com -'3fi: '-*1 v* j*. TUVALU SHIP REGISTRY SERVICE ■ifiSc^-srOUALITY FLAG 1. Low taxes 4. Active rote and representation in IMO 2. Agreements with lACB members 5. Worldwide network of surveyors on surveys and issuance of statutory certificates No restriction on nationality of ownership J. Accedes
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  • EDITORIAL & OPINION
    • 514 18 EDITORIAL IN a way, it is probably just as well that there are low expectations for what is likely to be achieved at the ongoing WTO ministerial meeting in Hong Kong. This means that relatively small gains would keep alive hopes
      514 words
    • 1029 18  -  ADB-driven regional integration has been accepted by most Asian governments ANTHONY ROWLEY Tokyo Correspondent WHEN Haruhiko Kuroda became president of the Development Bank (ADB) earlier this announced his intention to set up an Office of Regional Economic Integration, the response in some quarters was
      ADB  -  1,029 words
    • 762 18  -  THE BOTTOM LINE FRANK CHING LAST week, on Human Rights Day (Dec 10), the spotlight was focused on both China and the United States, especially where torture is concerned. In Washington, the State Department issued a statement naming China as a
      762 words
    • 839 19  -  They need to strengthen and deepen their strategic partnership in all fields By TOMMY KOH, RODOLFO SEVERINO, JUSUF WANANDI THE leaders of China and the 10-member Association of South-east Asian Nations (Asean) are holding a summit meeting today in Kuala Lumpur. A report by
      AP  -  839 words
    • 869 19  -  Investors betting on carmaker's sale of finance arm need strong constitution By MARK GILBERT Bloomberg AUTO accessory for sale, the advertisement might read. "One careless owner. Price reduced. Please call Rick Wagoner at 1-800-FIRE-SALE." General Motors Corp seems to be struggling to sell General Motors
      Bloomberg  -  869 words
    • 700 19  -  LETTERS TO THE EDITOR Lim CFA, Singapore THE current proposal by NOL management to return surplus cash to shareholders has not been met with enthusiastic market response, prompting one to ask whether this is a move in the right direction. Last year,
      700 words
    • 662 19  -  Benny Ong CEO,Life Planning Associates Pte Ltd I REFER to your report on the proposed changes to beneficiary nomination by the Monetary Authority of Singapore, "MAS plans change to insurance nominations" (BT, Dec 8). I believe there has never been any
      662 words

  • Page 19 Advertisements
    • 102 19 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to bt!etterOsph.com.sg or write to: the Business Times,SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel laws.
      102 words

  • 10320 20 SGX MAINBOARP 52-Wk Tel last Vol Day Last Quote GrOiv Dtv GrYM Nat MCap High Low Coda Company Sale ('000) High Urn luyar Sallar Cvr M ini 7.5 2 5716 1st Software 5c 2.5 unch 166 2.5 2.5 2.5 3 101 22 6 3148 8Telecom US2c 7.5 unch
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  • 6206 21 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In SS In USS dy yr dy yr dy %yr p^ 12 Index Change Change Change Change Change Change World Index Preliminary 966.6 0.3 13.4 0.5 11.0 0.7 7.8 EAFE Preliminary 956.0 0.5 23.7 1.1 13.3 13 10.1 Europe Preliminary
    6,206 words

  • Page 22 Advertisements
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      928 words
    • 342 22 p] DONGNAMA LINE COWTAimHIMP »IHVICK VTSSfI ffVOT WED) VOY |SGP HK6 M( PUS ZOE GLORY 01 IN 21/12 2S/12 30/12 02/01 AEGEAN EXPRESS SO3N 21/12 01/01 00/01 00/01 UIXHtU SDN 104/011 00/01 11/01 10/01 VESSEL (EVBY SUN) VOY I~SGP HKG KOUHAMAH HU223 11/12 22/12 ROUWKAWAN WRNO92 2S/12 20/12 KOTA HARtt
      342 words
    • 529 22 lintiraiia ro»o iirvki vßsa/vor vmm hbghtw m km io I sw I jkt STIAITSVBmjK 24/05 1$ l.i 24/11 27/1) 30/11 03/12 OS/12 STUnSVOTUK 25/05 IS 3.2 07/12 I STMTS VEMTUtt 24/05 15 3.2 11/12 21/12 01/01 08/01 04/01 I AUSTRALIAN ROtO SERVICE I vßsa/vor KAwrqrn tcomD m sw m stp
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  • Page 23 Advertisements
    • 1186 23 wwwhomburgsud.com ASIA SERVICE SLIHO 1 (EXPORT) ASIA SERVICE SUNG 2 (EXPORT) ETA n> Veml/Vtyoy SINGAPORE PO««AM SEPETWA SAMTOS ITAJAI PAIAMAGUA SINGAPORE HIENOSAIRES RIO GRANDE SAWTOS SEPEWA NYK tslrelo 00?W 71/12 01/01 11/01 12/01 14/01 15/01 Kioto 101W 17/12 09/01 12/01 14/01 15/01 Cop Corral 505W 2S/12 06/01 1«/01 1»/0I 21/01
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    • 1059 23 Vtssa VOY SIM JKT HKG KHH IMC KYH WIS VtSStL VOY SIN JKT SUB HKG DSN PUS HYIWO6E IO4S IS/1? 17/1? 22/12 2VI? 24/12 21/12 21/1? KMTC SINGAPORE SI7S 11/1? 21/1? 22/12 27/12 31/1? 1/1 IHY VUDIVOSTOK IWS 24/12 fl/12 31/12 ?/1 4/1 VI KMTC JAKAUTA SI7S 25/12 21/12 29/1?
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    • 662 23 |w WEEKLY EXPRESS SAIUNG SCHEDULE I" ALSO ACCEPTING TO ALL NORTHERN AHD WESTERN ICD POINTS I VBSa I VOT I SW I PJBANGItOtOMRO IH SUVA ICOUMRO I 111 I I I I MSO ACOPTMG fQ 10 COO* TUTKORR) (VIA COUMRO) MB RANMA t 60*1 (VU N 9CVA) CONCCTMG MOTHB VBS
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  • Page 24 Advertisements
    • 1356 24 WAN HAI INTERNATIONAL PIE LID a NO: MMS92OOOO/R -'X Ufa m |||p|i TEL: *****588 (MUNIS) FAX: *****163 \\\M N WAN If Al I ImEv CwtomrService/BookingsDkactUm• (1800)*****200 TIV llflll lIHI Ha 1H: (03) IMtMai ML-(03) *****31 F«lH:f»4) 22*5400 HUL|o4)B*e« Y" JOH in- (07) 251M23 Ml- (07)251«921 SHI IB: 1031) *****7S Ml
      1,356 words
    • 1010 24 vtssa vor sjn reu vissa vor sm jkt CSf 2301 0211P 12/12 14/12 gMMU 4)94 12/12 15/12 mmm rnn iim 22— ™f. j— H COAHDA *****! 14/12 15/12 lAil 4197 19/12 22/12 ssum 92m um wu gg |kj|—lj4i— mum itm 14/12 i*/» K" j!?? gfl? WW I _82UL_ 17/11 IIZU_
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    • 585 24 BSA -L MYANMA ffl FIVE STAR UNE (MyoNHar National Um) Loadiog far Yaagon vessel vor sin pkl pa pgu PAGAN J4BW SID PAGAN 349W SID IN MALAYSIA: IOUSTEAD SHIPPING AGENCIES KUL/PKU 03-300St3M PIN: 04-*****1S ACCEPTIIIB CORVERTIOMAL CBO VESSa VDTHKGSW Kl KCH TM ITU SM TWU MARIE STAR 7ISU>SU>SUSU>-SU>SU>SU> OOAMAQUBNIM SU
      585 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 8245 25 ETA ETA Advertiw v»<cZi 25, A Wessel Voyage Telephone ETA ETA Advertta Vessel Voyage Telephone SIN Oesfn Name Name Winter Number SIN Dotti Name Name 1 Number To BATU AMPAR/P. BATAM (BAP) 2552 Indonesia To ABIDJAN (ABJ) 2003 Cote D'lvoire 2)/01 22/01 Nordana PRINCESS
      8,245 words
  • Page 25 Advertisements
    • 328 25 HNordana (Asia) Pie Ltd B 70 Shwitow Way, #21-03 Marino Homso Siwgnpiro *****8 NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS DATES ARE ARRIVAL DATES VESSEL VOT Singapore Fn—rtt fawMri Chris t»os Iriwd Pwk ktond Express [E503 X 19 Pet 29 Pet Oljon 07 Jon Islond Express
      328 words
    • 264 25 FREIGHT LINKS EXPRESS PTE LTD 51 Penjuru Road, 3rd Level, Freight Links Express Logisticentre, Singapore *****3 Tel: 6267 5511 Fax 7 7 SOUTH AMERICA fir CHILE AQABA BUENOS AIRES SANTOS RIO GRANDE RIO DE JANEIRO VALPARAISO CALLAO CANADA ALEXANDRIA MALTA MAHE GENOA PANAMA CEBU DALIAN HONG KONG JAKARTA XINGANG XIAME
      264 words
    • 162 25 MBM|MTIGaWAVr 342!!im712 ■PflllfllTlGHPfAltl 343N 13-14/1? 20-22/12 27-21/12 H|jMU|U|TiGasa 344*1718/12 23-25/12 31-01/011 ■SQTQITIGaiSKY 345N 21 21/12 27-29/12 03-04/01 I TIGER WAVE 346N 25 25/12 30-01/01 07-01/01 I 347W 27-21/12 03-05/01 10-11/01 WRlihJilMtigh wht in i7nrn?nvT7TU)i/niß ■nfIMIIGBiCUF 019N 14-15/12 22-24/12 01-02/01 I ■UUUflxntES LHory 433 19 20/12 27-29/12 0447/011 009 25-24/12 02-04/01
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  • MOTORING
    • 557 27  -  Leading the pack is MPV Wish, with more than 4,000 sold in 27 months By SAMUEL EE TOYOTA rules Singapore roads as with authorised imports, it is also the most popular brand among grey imports. And to prove Japan's biggest carmaker is
      557 words
    • 506 27  -  By SAMUEL EE PROSPECTIVE buyers of the coming Spyker sportutility vehicle have placed orders even before they have seen a photograph of the new model, much less the car itself. Called the SSUV or Super SUV, it will be only the second Spyker bodystyle after
      WILLIAM WHEY  -  506 words
  • Page 27 Advertisements
    • 9 27 I- I Is, -«P-u~ -ft t f I I
      9 words
    • 1708 27 >AT^ NOTICFS 1 vy I I JL )"'>11 fft i• irtiip j«" KHiV t.di.n. f si I-i -M Deutsche Bank DEUTSCHE BANK AG, ACTING THROUGH ITS LONDON BRANCH (Incorporated ureter the law* of the Federal Republic of Germany) NOTICE TO WARRANTHOLDERS To all holder* of: (I) 50,000,000 European Style Caah
      1,708 words

  • executive Money
    • 779 28  -  By GENEVIEVE CUA the Monetary Authority of Singapore's (MAS) recent move g to revamp the framework of beneficiary nominations for insurance policies should come as good news for policyholders seeking greater flexibility. But many questions remain regarding legacy policies, where insurers had allowed policyholders
      779 words
    • 1480 28  -  With Singapore still new to some of the fee structures Reits have introduced here, GENEVIEVE CUA asks industry leaders how fair they are GENEVIEVE CUA REAL estate investment trusts (Reits) have delivered robust returns in the last two to three years, but it is
      1,480 words
    • 763 28  -  By CHET CURRIER QUICK now, which investment vehicle is growing fastest here in the mid-2000s? a) hedge funds; b) exchange-traded funds (FTFs); c) mutual funds. Answer: c) mutual funds, hands down. And no, that's not a trick question. While hedge funds and
      763 words
    • 1106 29  -  Holding Singapore shares for just five years could ensure 85% chance of no loss, plus a minimum 3% return, says LARRY HAVERKAMP LARRY HAVERKAMP THE CPF Board's plan for a privately managed pension plan (PPP) may well change the way we invest our CPF ordinary
      1,106 words
    • 4854 29 UNIT TRUSTS FUNDS Citigroup Asset Mgt Crti Global Bond/" 1.44/ ABN Amro Asset Mgt (S pore) Citi Asia Infrastructure 0.7726/0.8035 Star Europe Eqty'" 0865/ Cihlapan. Star Europe Bond 1.207/ CioBond S'pore A/$ 1279/ Star Europe Bal 1.14V CitiBond S'pore 1331/ Star Asian Tiger Eqtv 1.112/ Citi Money SGO Class A
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  • Page 28 Advertisements


  • SPIRIT OF ADVENTURE
    • 1131 30  -  Architect Sim Boon Yang talks to GEOFFREY EU about his adventurous road journey from London to S'pore crossing some of the world's most inhospitable terrain GEOFFREY EU AT the end of a fiveyear stint working in London in the early *****, architect Sim Boon Yang
      YEN MENG JIIN  -  1,131 words
  • Page 30 Advertisements
    • 290 30 Landßovar Legendary Facts f Terrain Response is the most advanced off-road technology in the world, making all the new Land Rovers virtually unstoppable. W-j 1 Rfiye>n VBW'S brnted jQ-A t-»H H-i :P r I■?. H n u 'l 9 *!n!!ul?i Jei 65BJ7f> rr)7? MK t |j <• |l ll 1
      290 words
    • 21 30 GO BEYOND This weekly series profiling high-flying executives who find adventure outside of work is brought to you by Land Rover
      21 words