The Business Times, 22 December 2005

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Total Pages: 30
1 30 The Business Times
  • 16 1 THE BUSINESS TIMES Thursday December 22,2005 SINGAPORE 85 cents online at http://business-times.asial .com.sg MCA (P) *****/2005
    16 words
  • 818 1  -  Minister also notes regulatory weaknesses that have to be put right By UMA SHANKARI [SINGAPORE] Health Minister Khaw Boon Wan yesterday gave the assurance that those under the old National Kidney Foundation (NKF) who had breached the law will be prosecuted. Responding
    STEPHANIE YEOW/ST  -  818 words
  • 137 1 STI 2,***** (+3.95) ST INDEX FUTURES 2,332.00 (+3.00) SIMSCI 275.97 (+0.70) SIMSCI FUTURES ***** (+0.40) MARKETS Wednesday Change KLSECOMP 894.65 -1.43 NIKKEI 225 15,957.57 +316.31 HANG SENG 15,221.42 +52.25 SET INDEX 698.43 -0.25 JAKARTA COMP 1,160.56 -2.48 MANILA COMP 2,075.05 +12.27 SEOUL COMP 1,354.16 +13.16 SHENZHEN B 190.97
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  • 662 1  -  By AMIT ROY CHOUDHURY [SINGAPORE] Seagate Technology is buying rival Maxtor Corp in a US$l.9 billion share deal that has far-reaching implications for the global disk drive industry including that in Singapore. Singapore, which makes about 30 per cent of
    662 words
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  • TOP STORIES
    • 521 2 Manpower Ministry likely to bring first charges THE first batch of criminal charges arising from the National Kidney Foundation saga are set to come from the Manpower Ministry. NKF's former management is alleged to have broken the law on employing foreign workers. TOP STORIES, PG 3 NKF's auditors
      521 words
    • 638 2  -  It affirms corporate governance review committee's recommendations By MICHELLE QUAH [SINGAPORE] China Aviation Oil (CAO) has sacked three key employees in what can be seen as an extension of recent moves to clean up its processes, as the financially troubled company
      638 words
    • 771 2 AFP [SHANGHAI] A jump of nearly US$3OO billion in the worth of China's economy confirmed long-held suspicions that Beijing's statistics were wildly inaccurate but analysts also warned on Tuesday the change was both a blessing and a curse. Official data released on Tuesday showed
      AFP; BLOOMBERG  -  771 words
    • 428 2 LATEST US DATA Reuters [WASHINGTON] The US economy grew a bit less robustly in the third quarter than previously thought and prices picked up, the government said yesterday, though the pace of growth remained the strongest since the beginning of 2004. Gross domestic product,
      Reuters  -  428 words
    • 714 3  -  NKF SCANDAL NKF may have broken laws on employment of foreign workers By MICHELLE QUAH [SINGAPORE] The first criminal charges over the scandal at the National Kidney Foundation (NKF) are set to come from the Manpower Ministry (MOM). The charity is alleged to
      FILE PHOTO  -  714 words
    • 505 3  -  By UMA SHANKARI [SINGAPORE] Health Minister Khaw Boon Wan said yesterday that he was disappointed with the National Kidney Foundation's (NKF's) previous auditors as they had not unearthed the problems in the charity earlier. Mr Khaw said that over the years, NKF had
      505 words
  • Page 2 Advertisements
    • 385 2 Form IRBA Workshop 2006 Date The Form IRBA for the year 2005 is due on 1 March 2006. Employers must Friday 20 January 2006 ensure that this important tax form is prepared correctly and accurately as 9 00am to 5 00pm or B an zat ons ma y be penalised
      385 words

  • Page 3 Advertisements
    • 26 3 A page dedicated to personal finance and investment for executives and businessmen. We cover issues concerning insurance, unit trusts, wealth management and other personal finance matters
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    • 157 3 a THE HOURGLASS I I MIMIS SII( W AS I mwS grffillfc w fegSfcgi 1 i I.I'I l< >N.M :i) IN >\\ Jkkl sj KYI I 1 !X< 1 l( >( 1 nS| DE BETHUN E I j:i> ]AQU ET DROZ i DANIEL ROTH W IST f f 'If C
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  • COMPANY NEWS
    • 478 4  -  But M&C can be split into operating and asset owning units: analysts By LESLIE YEE CITY Developments Ltd (CDL) which reportedly is eyeing the setting up of Singapore's first hotel real estate investment trust (Reit) for the assets held by its
      478 words
    • 541 4  -  HOCK LOCK SIEW By S JAYASANKARAN THE taxi in Kuala Lumpur is, uniformly, an Iswara. It is a model that was first produced almost two decades ago by Proton, Malaysia's national car-maker. Its age shows. There are none of the moulded, sleek lines that
      541 words
    • 1225 4 UNIT TRUSTS FUNDS GrowthPath Today 1.*****.1597 Global Dims Grow* Fund/4 1.*****37 GrovrthPath 2010 ********** Global Divers Balanced Fuid/li 1 1910 255 GrowthPath 2020 *****0 3249 Global Owen Stable Fund/& 1.195/1 J59 GrowthPath 2030 *****0.3392 Global Divers Conservative Fund/t ***** 272 GrowWath 20*0 1.3354/1.3821 Global Dynamic All-Weather Fund 0.941/0.992 Optima E-Commerce!"
      1,225 words
    • 370 5  -  Development of semi-detached houses, bungalows in 5 land parcels By SIOW LI SEN LUM Chang Holdings has again teamed up with GIC Real Estate (GICRE) for a deal in Malaysia. Lum Chang said yesterday its 40 per cent associate Urban Assignment
      370 words
    • 148 5 THE Monetary Authority of Singapore proposes to recognise bilateral netting of derivative transactions when calculating the capital adequacy of banks incorporated here. Four banks will be affected by the proposal: Citibank, DBS Group Holdings, United Overseas Bank and OCBC Bank. The proposal is in
      148 words
    • 273 5  -  By CONRAD TAN AN improving business outlook and the festive season have spelt good news for at least one real estate investment trust (Reit) here. Macquarie MEAG Prime Reit (MMP Reit), which owns 74.23 per cent of the newly revamped Wisma Atria shopping
      FILE PHOTO  -  273 words
    • 295 5  -  Three more trading algorithms to be introduced in Jan By LESLIE YEE SINGAPORE Exchange is looking to introduce new features to its electronic trading platform for derivatives trading to allow for more competitive prices, increased market liquidity and wider market participation
      295 words
    • COMPANY BRIEFS
      • 55 5 UNITED Overseas Bank, through its subsidiary UOB International Investment, has raised its interest in PT Bank Buana Indonesia from 53 per cent to about 61.1 per cent, paying some U5545.2 million for the additional 8.1 per cent stake. This follows a tender
        55 words
      • 109 5 ASCENDAS-Reit (A-Reit) has signed a put and call agreement yesterday to acquire Aztech Building for $23 million from Aztech Systems Limited. The pro forma financial effect of the acquisition on the distribution per unit for the financial year ended March 31,2005, would be an additional
        109 words
      • 46 5 CWT Distribution will absorb the chemical logistics businesses of its parent company, C&P Holings, from Jan 1 following a business rationalisation. The consolidated logistics business of the CWT group will also be revamped and housed under a separate entity, CWT Logistics.
        46 words
    • 564 8  -  SESDAQ DEALS Buyer is an undisclosed foreign-listed aerospace company By VEN SREENIVASAN SESDAQ-listed aircraft maintenance, repair and overhaul (MRO) specialist TPA Strategic Holdings is selling its aerospace business and assets for up to $60 million. In a surprise announcement
      564 words
    • 544 8  -  By OH BOON PING EDUCATION service provider Auston International Group is jumping on the online gaming business. The Sesdaq-listed company is to be used by a hightech American company to promote its online games, including the popular World of Warcraft and Helbreath. Auston
      ARTHUR LEE  -  544 words
    • 297 8  -  By LEE KIM SIANG SHARES of Xpress Holdings shot up by up to 60 per cent yesterday on news that it had acquired a 60 per cent stake in China printing services company, PMG Group, from Bioactive Enterprises Ltd. Xpress shares hit an
      297 words
    • 246 8 Bloomberg SINGAPORE Telecommunications Ltd, which is reported to be in talks to buy stakes in two phone companies in Australia, said it is focusing on expanding its existing businesses. Sing Tel, South-east Asia's largest phone company, may buy Richard Branson's 75 per
      Bloomberg  -  246 words
  • Page 4 Advertisements
    • 39 4 Allianz Global Investors one of world's top five asset management groups' AlliatlZ (flj) with more than US$l.45 trillion" of assets under management. Global investors companyrwn no *****7169Z Source: Watson Wyatt. As at 51 December 2004 As a! K) In;^
      39 words

  • Page 5 Advertisements
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  • SINGAPORE MARKETS
    • 547 6  -  STOCKS Note how STI continues to enjoy support even as broader market goes into pre-holiday season slumber VEN SREENIVASAN Senior Correspondent THE market may be poised for a Capricorn rally. Or at least that is what some market experts believe as the key
      Source: Bloomberg  -  547 words
    • 494 6  -  TRADES TO WATCH By CHUANG PECK MING US-BASED fund Wasatch Advisors has become a substantial shareholder of Sesdaq-listed Advanced Holdings, a home-grown designer and provider of process equipment for industrial clients worldwide. Wasatch has raised its stake in Advanced to 5.13 per cent,
      494 words
    • Article, Illustration
      430 6 OTHER SINGAPORE INDICES Dec 21 VALUE CLOSE BT OB/OS -47.00 +12.00 BTCAPI -*****.00 +27.00 BT 10-day MA -*****.00 -4.00 All-SG Equities 595.89 +1.27 SG Equities Elect 127.24 +0.60 SG Equities Fin 1708.04 +3.91 SG Equities Prop 717.23 +0.96 SIMSCI 275.97 +0.70 SiMSCI Futures 276.40 +0.40 MOST ACTIVE STOCKS VOLUME GZIReit
      430 words
    • Article, Illustration
      902 6  -  Compiled by MATTHEW PHAN System Access Dec 21 dOM: 10 J cents CIMB-GK RESEARCH. Dec 21 SHORT-TERM pain for long-term gain: SYS issued a warning on Dec 16 that its half-time earnings could come in lower than expected and that a loss cannot be ruled out. The warning
      Source: Bloomberg  -  902 words
    • 534 6  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar enjoyed a decent recovery yesterday after better-than expected US housing numbers overnight, but the real focus of attention in currency markets continued to be the almost relentless slide in gold over the past week. At one
      Source: Reuters  -  534 words

  • Page 7 Advertisements
    • 90 7 BV If <••'*•>;••• BT'-i v .'jls >. 'Txj&jjfS&J:. J&| jljj I•■ *jjm &V jv.r-- H&' f/j£ K M2B World I-■. JKf A I hp' 1 R» Bj Your Ultimate If O I Broadband I fM TV-on-demand I T If I From fashion to business training, movies to serials, fflju- JV
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  • Page 8 Advertisements
    • 192 8 U P P E L U B Jr? Dining Entertainment presents S&wwtep 24 2006, Treat your loved one to an enchanting Christmas this year. Start your evening with a complimentary Upper Club Martini and be enchanted by the mesmerizing voice of jazz singer Alemay Fernandez harmonized with a splendid 6
      192 words
    • 157 8 Crazy Horse Paris has arrived at Clarke Quay! Be the first to see this celebrated and unforgettable spectacle a landmark of Parisian night life! SHOW TIMES: Tuesdays to Sundays ist show: 7.30pm, 2nd show: 10.00pm Additional show on Saturdays at 12.30 am Prices range from Ss6s (for 1 with a
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  • SINGAPORE NEWS
    • 737 9  -  It offers benchmark price of $640 psf ppr: sources By KALPANA RASHIWALA A TENDER for a 99-year leasehold condominium site at Sentosa Cove yesterday drew seven bids and market talk is that Ho Bee group put in the top bid
      737 words
    • 409 9  -  By LESLIE YEE AGAINST the backdrop of an improving residential property market, the Hong Leong Group (HL Group) stable of companies sold an estimated 2,300 private residential property units in 2005, taking the top spot with about 30 per cent market
      409 words
    • 214 9  -  By CONRAD TAN MANY Singaporeans shun insurance or buy unsuitable products due to a poor understanding of how they work, according to one of the leading insurers here. NTUC Income chief executive Tan Kin Lian said that even high-income executives often told him in private
      214 words
    • 532 10  -  Confidence highest in tech, financial business services sectors By NANDE KHIN GERMAN businesses in Singapore expect their prospects here and in the rest of South-east Asia to remain positive next year, although sentiments are fractionally scaled back, according to the first-ever Singapore Index
      532 words
    • 256 10 COE premiums fell across the board yesterday, but the biggest drop was in the big car segment. A certificate of entitlement in Category B for cars above 1,600 cc plunged $4,300 to $9,001 in the final tender of 2005. The last time a big car
      256 words
    • 248 10 The Business Times Budding Artists Fund (BAF) yesterday concluded its first two arts camps for underprivileged children, and hopes to conduct them twice yearly with up to 100 children attending each time. The Tropicana Arts Camp, a two-day non-resi-dential camp attended by
      BT/ARTHUR LEE  -  248 words
  • Page 9 Advertisements
    • 126 9 NEWLY OPENED! Vibe ci new classic restaurant offering cuisine from around the world to entice todays disc en una connoisseur. The buffet features our signature modern i churrasco (barbeque), while the a la carte menu showcases contemporary European cuisine. Experience the latest dining haven at Merit us Negara Vibe I
      126 words
    • 185 9 EPSON m m. 181 m AHIA EXCEED YOUR VISION FANTASTIC A m h| Mr* Epson brings more gifts for you this festive >a season. Simply purchase either EPSON AcuLaser*. VI Bv C2600N or EPSON AcuLaser™ CXIINF and receive a FREE black toner. Promotion is valid till 31 Jan 2006, so
      185 words

  • Page 10 Advertisements
    • 128 10 r 3 Tlfifci I < 1 1 IS »«I W- #t vAMfl^B i iflfhflaMr I.J^^W^^^EBWMWW—f 33j!2 Li*» j CH v 2£&!« t is^H jL> B 1 f ft, I -44, 1 ge! V R /mm JB E > Siiitiit B B r* ft VI \ft WM I f -4H Come
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  • FOCUS: INDUSTRIES
    • 743 11  -  MANUFACTURING Singapore hopes to double manufacturing output to $300 billion a year by 2018, and electronics will remain a core sector, says OH BOON PING OH BOON PING THOUGH the pharmaceuticals sector has been identified as a key growth driver, the electronics sector is expected
      FILE PHOTOS  -  743 words
  • Page 11 Advertisements
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    • 44 11 I I I AN EXCLUSIVE SALE 23rd to 26th December ISETAN SCOTTS, EVENT HALL, LEVEL 4 (23 24 December, Isetan Scotts will open till 10.30pm) ISETAN SINGAPORE www. isetan. co m. sg Isetan Scotts Tel: 6733 1111. Open Daily 10.00 am 9.30pm. a r
      44 words

  • ECONOMY WATCH
    • 298 12 Bloomberg [NEW DELHI] India's economy is expected to expand 7 per cent to 8 per cent in the fiscal year ending March 31, Finance Minister P Chidambaram said in a Parliament discussion. The economy, Asia's fourth largest, grew 6.9 per cent in
      Bloomberg  -  298 words
    • 812 12 Analysts raise price forecasts citing market basics, economic growth and inflation Reuters [LONDON] The market fundamentals and macroeconomic factors that lifted gold's price more than 25 per cent this year will drive it still higher in 2006, analysts said. Leading research houses and
      Reuters  -  812 words
    • 685 12 Reuters [BEIJING] When residents of a south China fishing village took to the streets this month to demand fair compensation for land taken to build a power plant, it appeared to be just one of a mounting wave of protests around the country. But
      Reuters; AP  -  685 words
    • 555 12 European Commission says it will grow 0.6% in Q4 2005, Q1 2006 Bloomberg [PARIS] The European Commission raised its forecast for the economy of the dozen nations sharing the euro and predicted "solid growth" in 2006. The commission predicted the US$9 trillion
      Bloomberg  -  555 words
    • 310 12 Reuters [JAKARTA] Indonesia aims to restructure portions of around US$l35 billion in debt owed to foreign and domestic creditors to ease the government's fiscal burden and boost the economy, a minister said yesterday. Planning Minister Paskah Suzetta said in an interview that
      Reuters  -  310 words
    • 410 12 Reuters [WASHINGTON] The Federal Reserve may be winding down its interest-rate rising campaign but will stay on guard against inflation once done, given that the US economy appears close to full employment. Until recently, Fed officials had focused on the near-term threat that hurri-cane-inflated
      Reuters  -  410 words

  • MALAYSIA/INDONESIA
    • 564 13  -  Forex traders see RM3.70-to-US$ target attainable only in H2 next year By PAULINE NG in Kuala Lumpur WHEN Malaysia dropped its 3.80 ringgit to a US dollar peg on July 21, many had believed the local unit would strengthen to 3.70 by
      Source: Bloomberg  -  564 words
    • 246 13 Reuters [KUALA LUMPUR] Titan Chemicals Corp Bhd, Malaysia's largest petrochemical company, is buying a regional petrochemical plant that will boost its polyolefin production by about 50 per cent, a source close to the firm said. Titan will pay about US$23 million in
      Reuters  -  246 words
    • 349 13 Reuters I JAKARTA! Indonesia's largest telecommunications company, PT Telekomunikasi Indonesia Tbk, will review its share listings in New York and London due to high costs, its president said yesterday. Telkom, the largest company on the Jakarta exchange with a market capitalisation of
      Reuters  -  349 words
    • BRIEFLY ASIA
      • 77 13 Reuters [HONG KONG] Us Vegas Sands Corp, the world's biggest casino operator by market capitalisation, yesterday said it has reached an agreement with Far East Consortium International on the terms for a multi-hotel complex in Macau. Far East Consortium will develop the complex
        Reuters  -  77 words
      • 73 13 Reuters [BEIJING] China's National Development and Reform Commission yesterday unveiled a raft of measures aimed at reining in wasteful investment and surplus capacity and putting the country on a more sustainable growth path. Small copper and zinc smelters will be banned, investment in smaller
        Reuters  -  73 words
      • 62 13 Reuters [NEW DELHI] Planned foreign investment in India's telecoms and information technology sector is expected to double to US$22 billion in 2006, IT Minister Dayanidhi Maran said yesterday. Almost US$9 billion in planned investment has been announced this year by Semlndia and
        Reuters  -  62 words
      • 37 13 Bloomberg [JAKARTA] Khazanah Nasional, Malaysia's state investment company, increased its stake in Bank Lippo to 87.5 per cent after completing an offer to buy additional shares in the Indonesian lender.
        Bloomberg  -  37 words
    • 2234 13 VOL General Corp 043 unch 408 Dec 21 Mi *f- nm Garfting »jC0 0.40 1147 George Kant 0.58 unch 23 ABMRaaky 136 unch C GHL Systems jO.IO 031 388 Abric .038 001 Gtobetrorna Tech 033 unt) 1434 ACPInduMrias— 034 0-01 11 GlomaciM 1.00 unch 37 Advance Synergy 023
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  • Page 13 Advertisements
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  • GREATER CHINA
    • 482 14 China's central bank puts an end to recent speculation of bail-outs Reuters [SHANGHAI] China's central bank ruled out capital injections for second-tier banks yesterday, pouring cold water over media reports it intended to bail out smaller commercial lenders as part of nationwide financial reforms.
      Reuters  -  482 words
    • 37 14 [BEIJING] A Chinese man dressed as Santa Claus waves to passers-by in front of a coffee shop. Christmas is becoming increasingly popular in the country as Chinese are adopting more Western ideas and festivals. REUTERS
      REUTERS  -  37 words
    • 433 14 BUYING INTO CHINA Bloomberg [HONG KONG] Citigroup is leading a bid of about 22 billion yuan (554.5 billion) for 85 per cent of Guangdong Development Bank, the first state-owned Chinese lender to offer investors a majority stake, people familiar with the plan said. Citigroup,
      Bloomberg  -  433 words
    • 383 14 Reuters [BRUSSELS] Europe's Fortis yesterday said it has boosted its stake in Chinese fund management joint venture Fortis Haitong, increasing its exposure to a nascent US$4O billion market. The Belgian-Dutch financial services provider said it had raised its capital contribution to the joint
      Reuters  -  383 words
    • 410 14 AFP [BEIJING] China is planning to build a second natural gas pipeline from its western regions to the southern province of Guangdong in a bid to reduce its reliance on coal and oil, state media said yesterday. The pipeline, which is expected to connect
      AFP  -  410 words
    • 249 14 Reuters [BEIJING] A Chinese court has sentenced a former official of the Agricultural Bank of China to death for accepting bribes and embezzling funds worth 15 million yuan (Ss3.l million), state media said yesterday. Wen Mengjie, who used to work in the bank's
      Reuters  -  249 words
  • Page 14 Advertisements
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    • 22 14 Lianhe Zaobao Exclusive interview with Li Zhiqin I Singapore's I investment I ©China I grows I after a brief lull I jft
      22 words

  • INDIA
    • 492 15 Indian Petroleum Minister to visit Beijing, looks for more energy sector collaborations AFP [NEW DELHI] India and China, often fierce rivals in the race for global energy supplies, have won a joint bid to buy Pe-tro-Canada's 37 per cent stake in Syrian oil fields
      AFP  -  492 words
    • 733 15 AFP [NEW DELHI] Le Marche's four-storey gourmet shop, stocked with exotic cheeses, unblemished vegetables hand-wrapped in plastic and a spotless butcher's section isn't located in Manhattan. But for many Indians, the 5,000 square foot shop in the Indian capital seems like a
      AFP  -  733 words
    • 268 15 Bloomberg [NEW DELHI] National Thermal Power Corp has filed a suit against Reliance Industries Ltd, India's biggest non-state-run company, to enforce a gas supply contract it won in May last year. National Thermal, India's biggest generator, has asked the Mumbai High Court
      Bloomberg  -  268 words
    • 575 15 Bloomberg [NEW DELHI] Pfizer Inc, the world's biggest drugmaker, will introduce the impotence drug Viagra in India, having held the drug back for seven years until the South Asian nation introduced firmer patent laws this year. Keeping the drug off
      Bloomberg  -  575 words
  • Page 15 Advertisements
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  • ASIA-PACIFIC/WORLD
    • 568 16 German federal court overturns earlier ruling on 60m euro bonuses Reuters Bloomberg [KARLSRUHE, Germany] A German court has ordered the retrial of Deutsche Bank's chief executive officer over windfall bonuses he waved through at telecoms firm Mannesmann. The federal court's decision
      Reuters; Bloomberg; AP  -  568 words
    • 521 16 NYT [NAGOYA, Japan] Toyota Motor Co announced on Tuesday that it planned to make 9.06 million cars worldwide in 2006, a goal that could help it to snatch from General Motors the crown of world's largest carmaker, a title GM has held
      NYT; AFP  -  521 words
    • 485 16 Bloomberg [NEW YORK] Billionaire Kirk Kerkorian sold 12 million shares in General Motors Corp, paring an investment he had increased two months earlier. GM stock, which are down more than 50 per cent this year, fell 34 cents, or 1.7 per cent,
      Bloomberg  -  485 words
    • 663 16  -  ASIA INSIGHT Potential for those who make a transition from public to private sector to abuse their position ANTHONY ROWLEY Tokyo Correspondent JAPAN used to be notorious for its practice of amakudari or "descent from heaven", whereby on retirement, former top civil
      663 words
    • 211 16 AFP [SYDNEY] Australia's dominant telecommunications company lost its bid to charge its competitors higher prices for use of its copper network and warned that a planned upgrade was now in doubt. The Australian Competition and Consumer Commission (ACCC) rejected Telstra's proposal to charge
      AFP  -  211 words
    • WORLD WATCH
      • 75 16 Reuters [NEW YORK] Thomas Lee, founding partner of private equity group Thomas H Lee Partners, is leaving the firm and plans to launch a rival multibillion-dollar fund, the Wall Street Journal reported yesterday, citing sources. A spokesman for the firm was not immediately available
        Reuters  -  75 words
      • 111 16 Japan to enter space race in fashion AFP [TOKYO] Japan hopes to become the third nation to produce a space suit, using its technology to design a slimmer outfit for the next US mission to the moon, an official said yesterday. Japan will use its computer and fibre knowhow to
        AFP  -  111 words
      • 92 16 AFP [SYDNEY] London's Wembley Stadium may not be refurbished in time to host May's FA Cup Final, Australian construction group Multiplex warned yesterday. The Asl.2-billion (Ssl .5 billion) renovation, already troubled by delays and higher than expected costs, could see the
        AFP  -  92 words
      • 109 16 Reuters [TOKYO] Sanyo Electric Co will raise 300 billion yen (554.3 billion) from Goldman Sachs Group and other firms to boost its ailing finances and fund a restructuring plan to revive its flagging fortunes. This would be at the top of a previously announced
        Reuters  -  109 words
      • 102 16 Bloomberg [LONDON] Canary Wharf Group, the builder of London's second financial district, sold offices occupied by Reuters Group to a German real estate fund KanAm Grund Kapitalanlage for £185.4 million (***** million). The 305,000 sq ft building at 30 South Colonnade is leased to
        Bloomberg  -  102 words

  • WORLD
    • 499 17 Project is touted to herald 'the dawn of a kingdom in a new colour' Reuters [RIYADH] Saudi Arabia will build a U5526.7 billion Red Sea resort, port and financial centre, its developers said on Tuesday. The 55 sq km site, north of
      Reuters; AFP; FILE PHOTO  -  499 words
    • 459 17 AFP Bloomberg [WILMINGTON, Delaware] A judge on Tuesday ordered a trial to go forward against News Corp and its chairman Rupert Murdoch alleging the company broke promises to shareholders at the time of its move from Australia to the United States.
      AFP; Bloomberg  -  459 words
    • 486 17 Reuters [DENVER] Former Qwest Communications chief executive Joseph Nacchio, who presided over a US$2 billion accounting scandal at the telephone carrier, was on Tuesday indicted on insider trading charges. The long-anticipated move caps a three-year federal investigation. The indictment handed up by a grand
      Reuters; AP  -  486 words
    • 332 17 Bloomberg [NEW YORK] American International Group raised new chief executive Martin Sullivan's annual bonus by 20 per cent to US$l million after promoting him amid an accounting probe that led to his predecessor's ouster. The bonuses are in addition to interim
      Bloomberg; BLOOMBERG  -  332 words
    • 445 17 Bloomberg [NEW YORK] Earnings at Wall Street firms may jump 8 per cent next year to the highest since 2000 on an increase in global mergers and stock trading, the Securities Industry Association (SIA) said. Pre-tax profit in the US
      Bloomberg  -  445 words
    • 381 17 Bloomberg [NEW YORK] Calpine Corp. the US power plant owner saddled with more than US$l7 billion in debt, filed for bankruptcy protection after soaring natural gas prices left it unable to make loan and bond payments. The filing in US Bankruptcy Court
      Bloomberg  -  381 words

  • AVIATION
    • 544 18 Only 33 out of its 79 routes to Europe and Latin America are profitable AP AFP [KUALA LUMPUR] National carrier Malaysia Airlines needs RM3 billion (Ssl.3 billion) to restructure its operations after posting two straight quarters of losses, reports said yesterday. This
      AP; AFP  -  544 words
    • 379 18 Bloomberg [SHANGHAI] China Eastern Airlines Corp, the country's third-biggest carrier, signed an agreement on Tuesday for a US$22B million order of four Boeing Co 737 planes, as it expands to meet growing travel demand in China. The planes, among the 70 Boeing
      Bloomberg  -  379 words
    • LOG BOOK
      • 119 18 AP [DUBLIN] Budget airline Ryanair Holdings pic announced yesterday it will launch 18 new routes from Dublin and employ another 250 people in one of its biggest expansions on its Irish home turf. In a direct challenge to state-owned airline Aer Lingus, Ryanair chief
        AP  -  119 words
      • 105 18 Reuters [FRANKFURT] DaimlerChrysler has not ruled out selling its stake in aerospace group EADS at some stage, outgoing chief executive Juergen Schrempp was quoted as saying yesterday, but he saw no reason to do so. "I am sure that we will look at this
        Reuters  -  105 words
      • 57 18 Bloomberg [LONDON] Julius Baer Holding AG sold its 5.7 per cent stake in Copenhagen Airports A/S, the owner of the Danish capital's airport and terminals. Julius Baer, Switzerland's largest publicly traded bank for the wealthy, sold 447,220 shares of Copenhagen Airports on Dec
        Bloomberg  -  57 words
    • 633 18 It plans to decide on long-haul fleet expansion in '06 Reuters [FRANKFURT] German airline Deutsche Lufthansa wants to reduce pilot costs further to help boost profitability and meet increasing competition in the global airline market, its chief executive told Reuters. Europe's second-largest
      Reuters; AP  -  633 words
    • 657 18 OTY WW W* WW «1» jOg 1HB jgg AitSiEl KVS01B 0315 eHS iftt icpfi SB Haas S '~31 ll fjjp^H jj I :^ll si jjjjj ll~flllf idna A Q7881 1840 3045 1^ at. <w om igg} gg 8§ |I ,m j| St s Mp ;|8 M
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  • Page 18 Miscellaneous
    • 238 18 CRYPTIC CROSSWORD 5 Food ugly woman served to solPeople being paid writing Grumble mum lege square? waste decisive action (5-3) j Jumpers possibly ruined by —J——J——,L_J_— DOWN 1 SdSS n areaf6V° rPUttingOUt Eyre (9) YESTERDAY'S SOLUTION 2 Conservative spouse a bit on the R eveller in merry-go-round finally Across: Fjbre
      238 words

  • SHIPPING
    • 621 19  -  It forms equal joint venture Holistica Solutions with Salvesen By DAVID HUGHES j in London APL Logistics, the international logistics arm of Sin-gapore-based Neptune Orient Lines (NOL), has linked up with a Europe-wide distribution and storage network through a joint venture with Christian
      621 words
    • 45 19 [HODGKINS. Illinois] Employees of courier service UPS'Chicago Area Consolidation Hub direct packages along conveyor belts on the company s busiest day of the year on Tuesday. UPS handled 20 million packages during the day, nearly double the average daily volume. AFP
      AFP  -  45 words
    • 280 19 Bloomberg [WASHINGTON] Thousands of passengers on ships operated by Carnival Corp and Royal Caribbean Cruises Ltd, the world's two biggest cruise lines, were held up for a day in Miami after a fatal seaplane crash closed the busiest cruise port in the United States. Two
      Bloomberg; REUTERS  -  280 words
    • 361 19 Xinhua [HANGZHOU] China's two deep-water ports, Ningbo Port and Zhoushan Port in the east Zhejiang Province, officially merged into one on Tuesday in a bid to forge the third biggest port in the world. The new port will be named Ningbo-Zhoushan Port and start formal operation
      Xinhua  -  361 words
    • 368 19 Bloomberg [LONDON] National Grid pic, the operator of the United Kingdom's naturalgas and power grids, plans to increase capacity for importing liquefied natural gas (LNG) through its Isle of Grain terminal in the UK by five million metric tons a year. The
      Bloomberg  -  368 words
    • 763 19 It eyes Chinese cargo, aims to bridge East and West IHT [SILLAMAE, Estonia] In the early *****, the Kremlin ordered the Soviet military to blow up the port of Sillamae to prevent enemy ships from infiltrating this industrial town of 18,500 where
      IHT  -  763 words
    • 177 19 AFP [KUALA LUMPUR] Regional marine police and navies were hunting yesterday for a Singapore-owned ship and its crew, feared to have been hijacked by pirates in the South China Sea. a maritime official said. The Steadfast, a chemical tanker carrying a cargo of
      AFP  -  177 words
    • 291 19 S6X '000 0*21 S$ W- Vol CH Offshore .0.36 unch 327 ChuanHup .037 unch 725 Cosco Corporation .2.12 -0.02 6413 CWT Distribution .0 JO unch 0 EzraHldgs 138 unch 126 Freight Links. .0.06 unch 196 Grand Banks Yacht .0.88 unch 0 Jaya Holdings 132 0.01 1195 K1 Venture
      291 words

  • EDITORIAL & OPINION
    • 526 20 EDITORIAL THE official resizing of the Chinese economy vindicates the long-held scepticism of many economists about the country's economic data. Given the new picture of China's economic health, it brings forth fresh demands of its monetary policy. Overnight, with a US$2B4 billion boost to its 2004
      526 words
    • 952 20  -  China's US$285b economic revision is something its trading partners are not likely to miss WILLIAM PESEK JR Bloomberg CHINA'S bean counters came across something extraordinary while going over a few numbers: a statistical error the size of Austria. Once corrected,
      Bloomberg; BLOOMBERG  -  952 words
    • 749 20  -  THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group AMERICANS play the simplistic game of personalising the economy's success or failure. The President is a hero or a bum. He creates or destroys prosperity. This, of course, is make-believe. In a
      The Washington Post Writers Group  -  749 words
    • 1273 21  -  If they have been surprisingly low so far, the real test of their mettle lies just ahead By TOM PETRUNO LAT —WP THE question why long-term interest rates are where they are and not substantially higher has mystified many investors, economists and
      LAT—WP; AFP; AP  -  1,273 words
    • 748 21  -  By DANIEL ALTMAN IHT AS the dust settles here following the World Trade Organisation's ministerial meeting, the hype that surrounded the negotiators' modest deal on Sunday is giving way to a sober realism. Scores of issues dear to developing countries are still outstanding,
      IHT  -  748 words
    • 285 21  -  LETTERS TO THE EDITOR Danny Soo Singapore I DISAGREE with the last sentence in your editorial "Time to erase NKF blot" (BT. Dec 21). It read: "While the old NKF must answer to justice, which will take its course, it is perhaps time for
      285 words
    • 155 21  -  Joseph Djuhadi Jakarta I REFER to the report, "KPMG uncovers excesses by Durai" (BT. Dec 20). 1 participate in the NKF Lifedrops programme. Following the NKF saga, I think it is about time that the government considers having a single body, such as the CPF
      155 words

  • Page 21 Advertisements
    • 131 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletterOsph.coin.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.
      131 words

  • 9162 22 S6X MAINBOARD UM Tat tat V*l Oaf IMOM GrOM Ob CrtM MM "Cap L— C»4» C».pii| S*. fB8B> W# U» —ym Cw t W M »3 3 &7t« I* Software 5t. «05 I 3 3 2 3 III a 6 J1« 8TetecotnUS2c 7 OS 245 7 7 6S
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  • Page 22 Advertisements
    • 33 22 Why would you trade Contracts for Difference? (Cfds; For further details 01 intormntu<n on ho.-, to opt-n an account k.-j t< .v.v utytnHi-*a*"*.a n you understJind f .1 r City Index Asia CITV
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  • 6104 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES kitaolcHr tatt NiUW &r r dy r «4y Pt» Iwdm Qano» Owoa» Chin— thmm Chang* Ounga World ln)a ftiww 9M3 >3 13* at 10.1 -C1 to EAfiFWWMB M3 00 1~2J -0 J >0,7 tKBBtPuhwiw ***** Oil 204 -CM 10 -0 5 6A ftdk
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  • Page 24 Advertisements
    • 1108 24 We offer fully containerised service I Lrx. II connecting the world: |J I|| Ij II Hprj jp q joH USA/Canada/Europe/East West I j UUUivuiuU Mediterranean/Russia/Black Sea/Latin II America/South Africa/Australia New I I I r 1 Zealand/Havvaii/'Mexico/lntra-Asia IUUdMy focused For complete/specific schedule I WE ARE MORE THAN JUST A LINER COMPANY
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    • 397 24 vcsa/vor mroro hbohwb m km u« m *t siwnsvßmjtt 16/05 is u Mi °'/®i °Wi 04/01 STUITS VENTURE 01/06 IS 12 11/DJ 14/01 STRAITS VOmifti 02/06 IS 3? 23/01 26/01 31/01 03/02 OS/02 AIHmALIAH IQtO ««Viq ~~l VBSa/VOt IMMPPtniHBOHWOI to I SRI W STP MB Ml M JKT SRI ICI_
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  • Page 25 Advertisements
    • 1157 25 www.hambufnsud.iom £ESL ASIA SBtVKI SUW6 1 (EXfOtT) MU S«VKI SUW6 1 (tirotp fU ETA vtsrfAWww Imuran human stftm santos mm MMmcm vmml/vw— mm BBpLJUMBJiM «BBM Cap Corral 505W 21/17 01/01 11/01 If/01 11/01 12/01 (#talsl3W 14/11 14/01 11/01 11/01 H/01 SO3W 04/01 15/01 15/01 14/01 11/01 IVDI OmnmnSOlW 31/11 13/01
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 7223 26 HA ETA Advertiser V«ss«l Voy age Telephone CTA CTA A*>ertber Ve»el Voyy SIN Dest'n Name Nam* Number Number SIN Dest n Name Name To ABIDJAN (ABJ) 2003 Cote D'lvoire To BALTIMORE (BTM) 2035 U. S. 30/12 07/02 China Shpg CMA CGM ELBE 5X199W *****898
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  • Page 26 Advertisements
    • 592 26 VKSH VOY SIM PCU VKSa VOT SIM g_ PAOANOA 1625 M !W~ 19/12 PACBINTAH 9329 17/12 Zmg-Z CSf 2301 0214P 19/12 21/12 ffijAU 4197 19/1? 22/12 PACBAHOA 1626N 20/12 20/12 9330 U]Yi 27/2 WHIM JMJH BZ!3 li£l3_ rownM £5 SS! "Slfci vcsa M sw p* PA< »AHQKA 5244 H/U 21/12
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    • 835 26 WAN HAI NVERNAHONAL PIE LVD a Mtt 144*5******/1 TEL6226ISM (14IMS) FAX;* *****43 W\WAN HAI LINES ssssfisefiussV* jom m: iv) Biwa NUk ivmimi MS: mi) x»Mn nut inn mm*/ 1211*5 i **wi)swi«Mim)swmM*ro»i/7H»i wtrnw WWW.W—w.t—.if M: Htl) *****03 HUL mi) 4HWH/4XIW |M«HAI23S M 45 11/12 14/11 14/12 17/12 10/12 1*22/12 2V12 24/12
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    • 394 26 BSA j, wjwpr'ygiJf MYANMA WSH FIVE STAR UNE (MyaiHor Natiotd Um) Loading for Yaagoi VfSSEI VOY SIN PKI PEN PGU PAGAN 34«W SU> PAGAN 349W SlO IN MALAYSIA: OOUSTEAD SHIPPING AGENCIES KUI/PKI: 03-300 SUM PEN: 04-*****15 jlMiiimy ACCEPTING CONVENTIONAL C6O VESSa VOY WG SH fKL KM TIN ITU SDK TWU
      394 words


  • BizIT
    • 742 28  -  Technology trends such as HSDPA, convergence and WiMAX are also expected to make an impact next year, reports ROLAND LIM ROLAND LIM TOP mobile networking vendors here are betting that third generation (3G) mobile networks will see better take-up next year, spurred by
      742 words
    • 836 28  -  They harness technology to become more productive, responsive By AMIT ROY CHOUDHURY IN its annual look at the year ahead, IT research firm IDC has predicted that information and communications technology (ICT) spending and growth in Singapore and the Asia Pacific minus Japan (APEJ) will
      836 words
    • 167 28 Bloomberg [TOKYO] NTT DoCoMo Inc, the world's second biggest mobile phone operator, will spend 20.7 billion yen (*****.8 million) for a 2.6 per cent stake in Fuji Television Network to develop services for digital TV programmes on cellular handsets. DoCoMo will acquire 77,000
      Bloomberg  -  167 words
    • 450 28 Reuters [SAN FRANCISCO] Lenovo Group Ltd, the world's No 3 PC seller, said on Tuesday that William Amelio, the former head of Dell Inc's Asian business and a veteran IBM PC executive, replaced Stephen Ward as chief executive as the
      Reuters; FILE PHOTO  -  450 words
  • Page 28 Advertisements
    • 106 28 New Zealand ltrm J TRADE ENTERPRISE Expression of Interest (EOI) I InfoComm Research Modeling Projects EOI are called for two InfoComm projects. Project 1 is the development of a modeling tool to allow the capture of relevant information about InfoComm multinational corporations and components of their value chains. Project 2
      106 words

  • PROPERTY
    • 514 29  -  PROPERTY: INDUSTRIAL More landlords expected to enter market after JTC divestment By ARTHUR SIM THE industrial property sector will see a major shake-up when more details of JTC Corporation's divestment of industrial properties are made known in 2006. But since the announcement of the divestment
      FILE PHOTO  -  514 words
    • 372 29 Reuters [HONG KONG] GZI Reit ended up by nearly 14 per cent in its US$23O million IPO debut yesterday as investors were lured by the scarcity value of the first property trust made up entirely of mainland Chinese buildings. The trust, composed of
      Reuters  -  372 words
    • 1575 29 PROPFRTYTRANSACTIONS RFTWFFN DFC 1 3 AND DFC 70. ?005 PROJECT NAME/ PROP CONTRACT TENURE BUttf-lN/lAND PRICE PSf STREET NAME TYPE DATE AREA*(SQFT) (SS'OOO) (SS) District 01 NON-LANDED The Sail At Marina Bay Apt 25/11/2005 99 2164 3116 1440 The Sail At Marina Bay Apt 15/11/2005 99 678 622 918
      1,575 words
  • Page 29 Advertisements
    • 244 29 (■ELL s,te Riffles Girls' V X Sec /X, NtwtonX Nwrtwl f Caimhill MRT fc Site Area: 25,083 sq ft (approx) /M 6m*m Plot Ratio: 2.8, up to 36 storeys (L* j Prestigious residential enclave of District 9 J/n*** A\ T Scotts un,o^^c r -Ty,! Near amentities and reputable schools shop**
      244 words

  • Page 30 Advertisements
    • 186 30 I H H ig2& H <,-v. I I H I ~SI I i^i£3iM££s^3s&£Sfc««J——^— II L I L. I I v I S I _^,B_— Introducing the all-new RAV4. Wherever you are. Whenever you want. Opm™™t«to.«i»real«*% More than iust a new design, the all-new RAV4 boasts many new features to transform
      186 words