The Business Times, 4 February 2006

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Total Pages: 20
1 20 The Business Times
  • 19 1 THE BUSINESS TIMES weekend MICA (P) 089/03/2005 SINGAPORE 85 cents online at http://business-times.asia 1 com.sg I February 4-5, 2006
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  • 795 1  -  But beer barons needn't worry yet about sales withering on the vine By UMA SHANKARI [SINGAPORE] Wine sales are sparkling as Singaporeans develop a serious taste for sophistication by the glass. Slowly but surely, wine retailers and distributors are toasting success after years of
    795 words
  • 664 1  -  By OUR CORRESPONDENT in Bangkok A MEMBER of embattled Thai Prime Minister Thaksin Shinawatra's Cabinet quit yesterday in protest over his family's handling of the sale of its $3 billion Shin Corp stake to investors led by Singapore's Temasek Holdings. But Dr
    AP  -  664 words
  • 131 1 STI 2,431.72 (-9.67) ST INDEX FUTURES (-9.00) siMsa 287.78 (-1.73) SIMSa FUTURES 289.00 (-0.70) PRIME RATES SINGAPORE 5.25 MALAYSIA 6.24 HONGKONG 7.75 INDONESIA 18.16 TAIWAN 6.538 JAPAN 1.375 KOREA 9.33 BRITAIN 4.50 US 7.50 CANADA 5.25 SWITZERLAND 2.80 INDIA 10.25 Source: Bloomberg MARKETS Friday Change KLSECOMP 927.85 +13.84
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  • 574 1  -  By WONG WEI KONG [SINGAPORE] With most of the key issues already settled, only a relatively small number of China Aviation Oil (CAO) shareholders turned up for its annual general meeting (AGM) yesterday the company's first since it went bel-ly-up from
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  • TOP STORIES
    • 808 2  -  Consultants put it down to lack of proper planning By MICHELLE QUAH [SINGAPORE] Having been an integral part of local consciousness for the past decade, the simple 5 per cent Goods and Services Tax (GST) is not a concept many Singaporeans would say they
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    • 399 2 Source: The Globalist Immigration havens The complex —and often controversial issue of immigration is once again near the top of the political agenda in many industrialised countries. Witness, for example, the recent riots in Australia or the US debate over illegal immigration. We wonder: WMdi of the following countries
      Source: The Globalist  -  399 words
    • 807 2  - Celebrating the family —and friends SATURDAY SOAPBOX You don't have to wait for a festival to bring together the people you care about NANDE KHIN Reporter IT'S that time of the year again just after Christmas and into Chinese New Year when not-so-close friends and acquaintances ask me how I
      807 words
    • 179 2 [SINGAPORE] Singapore Press Holdings' stable of newspapers must be flexible and move with the changing needs of readers who are plugged into multiple news platforms on a 24hour basis, SPH chairman Tony Tan said yesterday. He was speaking at a lohei session
      LIANHE ZAOBAO  -  179 words
    • 516 2 Salamander Energy picks S'pore as regional base ANOTHER independent exploration and production (E&P) company. Salamander Energy, has picked Singapore as its regional base to expand into South-east Asia. The UK-incorporated group has just bought into two producing Indonesian oilfields, adding to its initial Thai foray, as it builds
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  • RAFFLES CONVERSATION
    • 1752 3  -  A desire to serve the general public led Dr N Varaprasad to take up the job of chief executive of the National Library Board. PARVATHI NAYAR has the details PARVATHI NAYAR JH Y life has been ■m mm predicated on m m I two pillars: pubM m
      YEN MENG JIIN  -  1,752 words
    • 243 3 DR VARAPRASAD'S belief in the library as a holistic learning experience has resonance with his long stint in the field of education. His transition from education to educational leadership occurred in 1985, when he left the National University of Singapore (NUS) as Associate Professor to join the
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  • Page 3 Advertisements
    • 179 3 The Raffles Conversation is brought to you through a special arrangement with Raffles International Hotels and Resorts. The Traveller's mW Palm in the Raffles International logo is an apt I J I I II symbol. Not only has water stored at the base of IV^k/ this palm provided sustenance, the
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  • COMPANY NEWS
    • 558 4  -  By NANDE KHIN ELECTRONICS group GP Industries is seeking to take its subsidiary CIH Ltd private so GP can fully integrate the subsidiary's activities with its own operations, in a move expected to make GP shares more liquid. Under a proposed scheme
      558 words
    • 685 4  -  Listing possible for UK group, which has bought Indon oilfield stakes on top of Thai foray By RONNIE LIM ANOTHER independent exploration and production (E&P) company, Salamander Energy, has picked Singapore as its regional base to expand into South-east Asia. And having armed
      LIANHE ZAOBAO  -  685 words
    • 535 4  -  It reports US$7.55m Q3 loss, but says revenue is up 51% By CHEN HUIFEN DESPITE a bigger loss and an ongoing lawsuit, main-board-listed Biosensors International Group remains focused on its long-term plans and is gearing up for the launch of its
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    • 511 4  - No chanae at the top it's still China and oil STOCKS R SIVANITHY Senior Correspondent JUDGING by this week's action, there appears to be plenty going on in the local stock market. And despite the appearance of a chaotic marketplace with little order, it's actually possible from the events of
      511 words
    • 420 4 Bloomberg SHARES of Singapore Airlines Ltd yesterday saw their biggest one-day decline in 18 months, after the world's second-largest carrier by market value posted on Thursday a fourth straight quarter of profit fall because of increasing fuel prices. The stock
      Bloomberg  -  420 words
    • 245 4 Bloomberg SILKAIR, the regional unit of Singapore Airlines Ltd. said that its passenger numbers rose to a record in the three months to December and may reach an all-time high for its fiscal year, as it expanded routes to meet demand. A
      Bloomberg  -  245 words
    • 658 5  -  No evidence that any alleged fraud was committed in Singapore By LESLIE YEE GREATRONIC Ltd's chairman James Hong made public yesterday a letter dated more than -four months ago from the Commercial Affairs Department (CAD), which said "CAD is not in a position to
      658 words
    • 290 5 NAM Lee Pressed Metal Industries has clinched two building works contracts worth a total of $21.1 million for two prominent residential projects in Singapore. The first is a $12.4 million contract for stainless steel and metal works for the Housing and Development Board's
      FILE PHOTO  -  290 words
    • COMPANY BRIEFS
      • 60 5 DBS Bank Ltd is divesting its equity stake in fully-owned Cai Hong Limited (previously known as DBS Finance Limited) to affiliates of a financial institution for about $7.3 million in cash. Cai Hong, which holds certain liquid financial assets, is currently inactive as
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      • 28 5 OCBC Bank yesterday said its dormant subsidiary, OCBC Securities Besearch Sdn Bhd, was dissolved on Jan 5,2006 and has ceased to be a subsidiary.
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      • 106 5 CITY Developments yesterday clarified that its BECAP (Beal Estate Capital Asia Partners, LP) was expected as stated in its 2004 annual report—to invest its fund of US$22l million, including interest of a minority partner, within a period of three years. And, with appropriate leverage, BECAP
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    • 326 5 COMPACT Metal Industries said that as part of its continual efforts to streamline its business, it has sold its entire 50 per cent stake in PT Indal Compact Aluminium Industries, an associated company in Indonesia. It has also bolstered the financial structure of
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  • Page 5 Advertisements
    • 36 5 t .•■ggf ■"iSS r i 5 1 illl'llllll IB 1 I I r i P J km' I I Opens 6 February 2006 For reservations, please call 6666 1977 italian dining lounge bar SENTOSA GOLF CLUB
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  • PERSONAL INVESTMENT
    • Article, Illustration
      1003 6  -  Compiled by UMA SHANKARI DBS Group Feb 3 dose: $16.60 CITMSROUP RESEARCH, Feb 2 OUR target price for DBS is SslB.lo. Using a dividend discount model, assuming 2006E cash ROAE of 17.2 per cent, a dividend per share of 550.60 and cost of equity of 11 per cent, a
      Source: Bloomberg  -  1,003 words
    • 999 6 For week beginning Jan 30 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS SybSMtbl toy No of Met SHA*EKOU)ING Tram Sh»r«i™ider< Sell Sham Mr ■jrfojj After Stock Data Diroctor Cowv 000 SV S (000) (000) Multi-Chem 2-Feb-06 Han Juat Hoon "Boy 531 0.28 *****9 39.26 *****0 3|.41 Multi-Chem 2-Feb-06 FooSuanSai Buy
      999 words
    • 592 6  -  Semiconductor and Internet are likely to be the best-performing areas this year By STUART O'GORMAN, GEOFF PATON WE BELIEVE the outlook for the technology sector in 2006 is positive. In our opinion, a number of factors will drive the sector over the coming
      AFP  -  592 words
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  • BT INVESTMENT ROUNDTABLE
    • 2600 7 OVERVIEW THE Japanese real estate market is recovering strongly after more than a decade of plunging land and property prices, following the bursting of the country's mega asset bubble in the late 1980s. Prices are rising again in Tokyo and other major cities
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  • SINGAPORE NEWS
    • 305 8  -  By ARTHUR LEE INFECTIOUS rhythms and showmanship from the Percussion Assembly and the 10-drum Taiwanese percussion group held the audience captivated yesterday evening at the Forecourt of the Esplanade. Formed in 2002, members of the Percussion Assembly include full-time NSF personnel, undergraduates and some working professionals.
      ARTHUR LEE  -  305 words
    • 393 8  -  Online survey also finds concerns over healthcare issues, terrorism By CHEN HUIFEN CONSUMER sentiment in Singapore is improving, despite a generally higher level of concern about health and terrorism issues, according to findings by a market research company. ACNielsen, which conducted a global online survey
      393 words
    • 404 8  -  By WONG WEI KONG THE $51,000 that former DBS CEO Philippe Paillart was alleged to have misappropriated from Earth Science Industries (ESI) was actually money due to him, a court heard yesterday. The revelation came on the final day of a hearing at the
      FILE PHOTO  -  404 words
    • 321 8  -  By CONRAD TAN CENTRAL banks should not try to directly control asset prices in normal times, even to prevent a housing bubble, a former member of the European Central Bank (ECB) executive board said in Singapore yesterday. Speaking at a public
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    • 1173 8 yflTj :*at^ NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg PT INTERNATIONAL IMICKEL INDONESIA Tbk ANNOUNCEMENT OF THE RESULT OF THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS It is hereby announced to all shareholders of PT International Nickel Indonesia Tbk ("PT Inco" or "the Company") that the Extraordinary General Meeting of Shareholders held
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    • 761 8 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF REGENT LIFE-STYLE PTE LTD Co. Rag. No. *****2550 C Members' Voluntary Winding-up NOTICE OF RESOLUTION At an Extraordinary General Meeting of the members of REGENT LIFESTYLE PTE LTD duty convened and held at 60 Sungei Kadut
      761 words

  • FOCUS: CLIPPER RACE
    • 241 9 Well on their way to Qingdao, China, the sailors aboard Uniquely Singapore and the other clippers may be facing wind and wave, but back home friends and family are getting familiar with their absence. The 10 boats docked here on Jan 5, having swept up through the
      PHOTOS: YEN MENG JIIN; LIM SIN THAI/ST  -  241 words
    • 302 9 Round-the-World Yacht Race Leg 4, Race 6 Clipper Ventures THE last 24 hours have seen the main group of the fleet draw back together again, beating towards the Luzon Straits south of Taiwan over a front of about 30 miles. Cardiff, off to the east, has cleared
      Clipper Ventures  -  302 words

  • MALAYSIA
    • 553 10 Japan firm hopes to make inroads in M'sian market from latest tie-up AFP. AP [KUALA LUMPUR] National carmaker Proton joined forces with Japan's Mitsubishi Motors yesterday in a new cooperation deal which will help the ailing Malaysian firm develop desperately needed new models.
      AFP.; AP; Source: Bloomberg; REUTERS  -  553 words
    • 534 10 [KUALA LUMPUR] Indonesia is viewed as the perfect piece for Titan Chemicals Corp Bhd's expansion puzzle and the company's proposed acquisition of PT Petrokimia Nusantara Interindo (PT Peni) may just be the start of more to come, says a report in Malaysia's Business
      534 words
    • 5005 10 Transaction date: Feb 3 M T j LMt Vol Day last Quote GrtXv Dtv Grtld Not MCao HiSIlbw r-rth Company Sato *1- COOP) M* Lax «uyr SoNr Cw HE So* 6.5 2 5716 1st Software 5c 2.5 undi 2448 2.5 2.5 2.5 3 101 -33 3* 3? g|
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  • INDONESIA
    • 334 11 Bakrie Telecom shares debut with 41 gain Telco's attractions include aggressive marketing, offers of cheaper tariffs Reuters [JAKARTA] Shares in Indonesian mobile phone firm PT Bakrie Telecom Tbk gained 41 per cent in their trading debut yesterday as investors bet its aggressive marketing may help it grab a bigger slice
      Reuters  -  334 words
    • 269 11 [JAKARTA] Garuda Indonesia is still negotiating with its creditors on possible options for the settlement of the airline's US$794 million in debts, the Jakarta Post reports. "There has been a meeting with our creditors, but we are still waiting for their agreement," Garuda chief executive Emirsyah
      269 words
    • 5740 11 Transaction Date: Feb 3 MOST ACTIVE STOCKS VOLUME VALUE K1 Ventures 10c 99.479.000 UOB 81,671,032 Sky Petrol 5c 38.436.000 SingTel 15c 48,969,398 China Paper US4c 32.890.000 Keppel Corp 50c 43,985,913 Cosco Corp 10c 30.179.000 DBS Grp 42,459,285 ChinaLife US5c 28.214.000 CapitaLand 40,811,450 Revouna US7.5c 26.286.000 SIA50c 39,047,676 China Sun
      5,740 words

  • GREATER CHINA
    • 381 12 SCMP reports that it has approval from regulators to buy 85% stake [HONG KONG] Mainland banking regulators and the Guangdong provincial government have approved a 24.1 million yuan (554.9 million) bid by a Citigroupled consortium to buy an 85 per cent stake in
      381 words
    • 287 12 [HONG KONG] Swire Pacific is understood to be planning a bond issue to raise HK$4.6 billion (*****.8 million) to partly finance the acquisition of the remaining stake in Festival Walk, the South China Morning Post reports. However, a spokeswoman for the conglomerate said
      287 words
    • 523 12 Proceeds likely to be used to boost lender's capital [HONG KONG] Fubon Bank (Hong Kong), a locally listed lender controlled by Taiwan's Fubon Financial Holdings, plans to sell up to US$3OO million in subordinated debt to boost capital, reported The Standard, citing sources
      523 words
    • 6189 12 UNIT TRUSTS FUNDS ABM Amro Asset Mgt (S'pore) Star Ei*ape Eqty!" 0.892/ Star Europe Bond 1-'® Star Europe Bal 1157/ Star Asian T«jer Eqty 1.162/ Star Asia Bond 1307/ Star Asia Balanced 1 083/ Star Global Technology Fund!** 0.21/ MultiStH 1053/ Star Asia 8ond(USD) 0.802/ GfeMultiStUSD 11«/ Asia Bond Fd
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      30 words

  • INDIA
    • 720 13 It needs to improve infrastructure and boost companies' 'low morale' Bloomberg [BANGALORE] H D Kumaraswamy took over yesterday as chief minister of the Indian state that is home to Bangalore, the country's technology hub, where he will have to restore political stability, fix
      Bloomberg  -  720 words
    • 504 13 Singing their way to literacy Bollvwood stvle AFP (NEW DELHI] While watching a Spanish film as a student, Indian Brij Kothari wished the film had subtitles in Spanish rather than in English so that he could learn the language. Ten years on, Dr Kothari has not only become fluent in
      AFP; AFF  -  504 words
    • 193 13 (MUMBAI] India's Dr Reddy's Laboratories Ltd has bid about 25 billion rupees (***** million) to acquire German generic drug maker Betapharm, the Business Standard reported yesterday. A European firm and India's Ranbaxy Laboratories Ltd are also in the fray, the newspaper said. Company officials could
      193 words
    • 383 13 AFP [PARIS] Investors in Europe, where a bid by Mittal Steel for Arcelor has generated controversy, are showing increasing interest in India, which achieved economic growth of 8 per cent last year. There are only about a dozen continental European investment funds dedicated to
      AFP  -  383 words
    • 377 13 AP [NEW DELHI] India's prime minister met with leftist leaders yesterday, in a bid to end a three-day-old nationwide strike by airport workers who are protesting plans to privatise the country's two largest airports, officials said. The strike by about 22,000
      AP  -  377 words
    • 2418 13 VOL nm w- nm A AMRealty 140 <L01 3 Abric 034 0.03 80 ACP Industries... .0.72 003 35 Advance Synergy ...0.24 001 274 Advwitt.. .0.27 0.02 446 A£ Mutti— ...0.30 unch 72 Affin Hldgs 163 0.02 925 Ahmad Zaki Ras 125 003 24 AKI Corp 1.15 unch 21
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  • ASIA-PACIFIC/WORLD
    • 476 14 It's one of 17 emerging markets shortlisted from 27 by consulting group Reuters, Bloomberg Reuters. [NEW YORK] A new report prepared for Calpers, the biggest US pension fund, has found that Indonesia now meets certain standards, making it eligible for investment. Calpers,
      Reuters, Bloomberg; Reuters.  -  476 words
    • 393 14 AP, Reuters [SYDNEY] Australian telecommunications company Telstra Corp yesterday proposed to split its operations into three parts ahead of its planned privatisation, but a senior opposition lawmaker dismissed the telecommunications giant's plan as a "sham". In a draft operational separation plan posted on Telstra's
      AP,; Reuters  -  393 words
    • 47 14 IF YOU HAVE A COUPLE OF MILLION POUNDS [LONDON] This painting by Pierre-Auguste Renoir of his brother Pierre-Henri Renoir is displayed at Christie's yesterday. It is estimated to fetch between £1.5 million and £2 million (554.3-5.8 million) at the German and Austrian Art auction this month. REUTERS
      REUTERS  -  47 words
    • WORLD WATCH
      • 113 14 Reuters [SAN FRANCISCO] Global sales of microchips rose 6.8 per cent to a record US$22B billion last year, driven by demand for computers, mobile phones, digital music players and other consumer devices, an industry group said on Thursday. Sales in December were just under
        Reuters  -  113 words
      • 136 14 Reuters [LONDON] British Airways' third-quarter operating profit rose 29 per cent, ahead of expectations, after strong passenger numbers helped offset rising fuel bills. It slightly raised its revenue forecast but warned costs would be higher than expected and reported lower average passenger fares
        Reuters  -  136 words
      • 120 14 NYT [SAN FRANCISCO] Amazon, the giant Online retailer, reported late on Thursday that its profit declined 43 per cent during the holiday quarter, in large part because of a reduced tax benefit. Without special items, the company reported revenue that was slightly lower than
        NYT  -  120 words
      • 119 14 AP [TOKYO] Hitachi yesterday said its net profit plunged 79 per cent in the quarter through December due to losses at a plasma display subsidiary and because of a big gain the previous year from securities sales. It reported group net profit of 5.49 billion yen
        AP  -  119 words
      • 114 14 AFP [TOKYO] Japanese telecom giant Nippon Telegraph and Telephone Corp (NTT) yesterday said its profit fell by almost one-third in the nine months to December as intense competition weighed on revenues. Group net profit for the period dropped 31.6 per cent from a year earlier to
        AFP  -  114 words
      • 90 14 Rloomberg [NEW YORK] A federal judge denied a motion to dismiss a suit by Allied Irish Banks accusing Citigroup and Bank of America Corp of helping rogue currency trader John Rusnak hide US$69l million in losses. Rusnak in 2002 pleaded guilty to defrauding Allied
        Rloomberg  -  90 words
    • 481 14  -  438 filed last year, indicating level of new discoveries By RAVI KANTH in Geneva SINGAPORE companies and research institutes filed 438 patent applications last year and are expected to increase their share in the coming years, a senior official of the World Intellectual Property
      481 words
    • 421 14 US jobless rate drops to 4.7% lowest in 4½ years Reuters [WASHINGTON] United States employers added a smaller-than-forecast 193,000 new jobs in January but job growth in each of the five prior months was pushed up as part of a broader annual revision of the data, a government report yesterday
      Reuters  -  421 words
    • 185 14 [HONG KONG] A computer worm expected to begin corrupting files in infected machines around the world on Thursday has so far caused no major damage in the Asian financial centres of Hong Kong and Tokyo, officials and experts said. Experts had warned earlier this week that
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  • MOTORING
    • Article, Illustration
      723 15  -  The Honda Odyssey and Toyota Picnic topped the Motor Traders Association of Singapore's list of most popular multi-purpose vehicles last year. But what can you buy that has seven seats and still doesn't look the same as the one your neighbour with the annoying wife and three
      723 words
    • Article, Illustration
      1065 15  -  Need to constantly ferry an extended family around? RAYMOND LAI tries out three XL-sized, alternative people carriers RAYMOND LAI NOW, VOYAGER THE people carrier has come a long way since Chrysler introduced the Voyager in the early 1980s. The company which invented the MPV or multi-purpose vehicle
      PHOTOS: TAN MENG CHOON  -  1,065 words
    • 566 15  -  By C Y CHEW IT may only have been unveiled last month in Japan, but the all-new Toyota Estima will be on showroom floors here as early as next weekend. But this time, the parallel importers will not be the first off the block. Authorised distributor Borneo
      566 words

  • GOLF
    • 1039 16  -  He became the youngest-ever Number One golfer in 1996, and he's continued to make his mark since, writes JUSTINE MOSS JUSTINE MOSS IT MAY be the Year of the Dog according to the Chinese zodiac, but it's still the Year of the Tiger in golf
      AP  -  1,039 words
  • Page 16 Advertisements
    • 766 16 wine&dine withweekendBT ii i V SToPk* Court CMnatt Restaurant tempting selections of global culinary delights for buffet and free owof selected j Opm 4pm. 3AS Meritus Mandarin Singapore, Orchard Rood. of coflee/teafcoft drink. a la carte (fining. Expect show kitchen with Chinese iradi- Hotel Phoenix TeL *****262/66 tiorar'hand-mate'' noodles 277Orchard
      766 words

  • WELLNESS
    • 2327 17  -  With more sophisticated equipment and better techniques, some common chronic problems requiring surgery shouldn't be put off. CHEAH UI-HOON looks at medical packages available CHEAH UI-HOON Minimally invasive surgery (MIS) and low downtime aren't just keywords for cosmetic surgery alone. Medical procedures have been going
      PHOTOS: SINGAPORE GENERAL HOSPITAL  -  2,327 words

  • SHOPPING
    • 1459 18  -  If you must have your cuppa, why not invest in an espresso machine, so that you can indulge in your addiction ail day everyday. CORINNE KERK checks on the market CORINNE KERK Singaporeans may well love their morning cuppa from the neighbourhood kopitiam or coffee
      1,459 words
    • 361 18 As with any food processing equipment, hygiene is critical. Clean the brewing unit daily and empty the ground regularly as the tropical climate is perfect for the growth of fungi and bacteria. Think of your rice cooker which needs cleaning after every use. The same
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  • PERSONAL SPACE
    • 1313 19  -  The fengshui elements of a house can be weaved into its contemporary decor, writes CHEAH UI-HOON after visiting a geomancer's home CHEAH UI-HOON SOOTHING creams and browns form the dominant colour scheme at Adelina Pang's house, not the stereotypical gold or red, as one might envision a
      PHOTOS: YEN MENG JIIN  -  1,313 words
  • Page 19 Miscellaneous
    • 225 19 CRYPTIC CROSSWORD ,15 Appreciate victory over a louse, YESTERDAY'S SOLUTION m ;]j^ lMde 111,0afM01 oddly® Acrou: 1 Radii. 4 Labourer, 10 2 Amreciate where the batsman 16 Com P? n y doctor generating Fe rrari, 11 Feature, 12 Ramp, 13 batsman envy (5) Track ]4 Fjn{? 1? Fjngerprjnt j n
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  • THE BUSINESS TIMES weekend
    • 1088 20  -  JAIME EE suggests a few vegetarian eating places where you can go light and healthy JAIME EE THERE comes a time, after your fifth or sixth lohei, the neverending stream of reunion dinner leftovers at home and the gazillionth pineapple tart, that you sit down and surrender.
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    • 1020 20  -  If you'd rather eschew the goodness of healthy cooking for some simply good cooking with a superb twist, GEOFFREY EU recommends the new, old, Majestic Restaurant GEOFFREY EU RESURRECTING a famous restaurant is a risky business, simply because diners who are familiar with the original
      YEN MENG JIIN  -  1,020 words
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