The Business Times, 8 February 2006

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Total Pages: 30
1 30 The Business Times
  • 16 1 THE BUSINESS TIMES online at http://business-times.asial .com.sg MICA (P) 089/03/2005 SirfeAgOßE. 85 j£gp^" Wednesday, February 8,2006
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  • 628 1  -  Asia-based CEOs regard China and India as best places to do business By MICHELLE QUAH [SINGAPORE] Contrary to popular belief, globalisation isn't just about big Western companies seeking low-cost production in emerging economies, says a new study. It is more about
    Source: PricewaterhouseCoopers  -  628 words
  • 511 1  -  Investors remain optimistic PSA will make comeback bid By DONALD URQUHART [SINGAPOBE] Market sentiment in London remains cautious as the P&O takeover saga moves in agonising slow- motion towards a possible conclusion in a few days, but with as yet
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  • Page 1 Advertisements
    • 44 1 COMMENTARY Does house trading create a false market? Of A PG 4 WORLD ECONOMIC FORUM Globalisation no longer a win-win game PG2O W K K Fong's comeback poses questions for Xpress HOCK LOCK SIEW, PG 5 V\te ask motor tradeis for their views P6»
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    • 15 1 EXEC MONEY Make your cash work harder PG 30 8 U Markets Digest Pg 3
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  • TOP STORIES
    • 759 2  -  $1,058 psf ppr land price, including devt charges, is highest since 1997 By KALPANA RASHIWALA [SINGAPORE] Property tycoon Ng Teng Fong's Far East Organization continues to expand its presence in the prime Orchard Road belt. This time it has clinched the freehold Angullia Mansion, near
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    • 635 2 SembCorp team in Abu Dhabi over mega deal A TEAM from SembCorp Industries is in Abu Dhabi for a "final evaluation" meeting with officials there over the Singapore company's preferred bid for a multi-billion dollar power and desalination project. The development comes after a Gulf newspaper quoted a
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    • 467 3  -  Group competing for billion dollar desalination, power project By RONNIE LIM [SINGAPORE] A team from SembCorp Industries (SCI) is in Abu Dhabi in the United Arab Emirates for a "final evaluation" meeting with officials there over the Singapore company's preferred bid for
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    • 156 3 Xinhua [SINGAPORE] A total of 37,593 babieswere bfrrft in Singapore last year, up 1.9 per cefit ovef 2004 with the histfoHc low record of 36,900, Channel News Asia reported yesterday. Of the total, more than 16,900 were firstborns, 300 more
      Xinhua  -  156 words
    • 618 3 But baht falls 0.5%, and dealers expect it to hit 39.80 By OUR CORRESPONDENT in Bangkok THE Federation of Thai Industries (FTI) said yesterday continuing political tension in the country is unlikely to derail economic progress and will have little impact
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    • 580 3  -  It is also up against the visibility posed by Chinese, Indian industrial progress By VIKRAM KHANNA [SINGAPORE] Asean needs to integrate its economies more closely if it is to attract greater attention from France and the European Union generally, the
      YEN MENG JIIN  -  580 words
    • 132 3 sn 2,448.73 (+7.65) ST INDEX FUTURES (+8.00) siMsa 290.02 (+0.77) SIMSa FUTURES 290.10 (-0.30) MARKETS Tuesday Change KLSECOMP 923.84 -5.55 NIKKEI 225 16.720.99 -26.77 HANG SENG 15.517.01 -31.05 SET INDEX ***** -0.7S JAKARTA COMP 1,259.36 +1371 MANILA COMP 2,097.38 ;35.75 SEOUL COMP 1,332.28 -9.36 SHENZHEN B 261.53 *3.18
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  • Page 2 Advertisements
    • 300 2 Get The Big Picture With Budget Seminar 2006 24 February 2006 (Friday) 2005 ended positively with a series of good news on Singapore's B:4sam to s:oopm economic performance. A sterling report was delivered with a terfrontH ,<H better-than-expected growth rate of 5.7%. Singapore *****3 Level 4, Grand Ballroom All eyes
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  • Page 3 Advertisements
    • 16 3 Others the Award. The Excellence employees happy Apply for the See www.wleaward.com.sg Organised by the on
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    • 32 3 BT ONLINE BT print subscribers get free access to the Business Times Online. To activate your account, log on to http 7/ business-times.asial .com.sg. For more information, email btocs@sph.com.sg or call 6388-3838.
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  • COMPANY NEWS
    • 733 4  -  COMMENTARY Daily release of proprietary volume will assuage critics of house trading and is consistent with a disclosure-based regime R SIVANITHY Senior Correspondent WHAT does it mean to create a "false market" for stocks? Most people might respond by saying that a false market exists
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    • 604 4  -  Market has priced in upside from integrated resorts By MICHELLE QUAH AFTER a reasonably strong 2005, Singapore stocks are likely to experience more moderate growth in 2006, with upside from the development of two integrated resorts already priced in by the market, says ratings
      604 words
    • 306 5 TWO executives of Nucleus Electronics have been fined after they were convicted of insider trading in the company's shares. Group financial controller and company secretary Raymond Ting was fined $120,000 while its sales director for North Asia Looi Kim Wah was fined
      306 words
    • 511 5  -  They will pay total civil penalty of $305,000 to MAS By LESLIE YEE THE Monetary Authority of Singapore has taken civil penalty enforcement action against Frankie Quek Swee Heng and Lee Boon Hiok for contravening the insidertrading provisions of the Securities
      511 words
    • 663 5  -  HOCK LOCK SIEW By WONG WEI KONG IT IS undoubtedly a personal triumph for KK Fong to be back at Xpress Holdings. But what of the company, which has worked so hard to start afresh and make a clean break with the past? It
      663 words
    • 550 6  -  TELECOM FOCUS But it recovers from a 7c fall in early trade to end the day just 1c down By SIOW LI SEN STARHUB Ltd shares took a hit in morning trade yesterday before ending off their lows following news that Singapore
      550 words
    • 320 6  -  By AL LABITA in Manila CUT-THROAT competition in the mobile phone business dragged down the profit last year of Globe Telecom, the listed Philippine unit of Singapore Telecom. In its announcement yesterday, Globe said net income fell 9 per cent to 10.3 billion pesos
      320 words
    • 375 6  -  By SIOW LI SEN SINGAPORE Telecommunications's aggregate number of mobile subscribers in the region has increased 26 per cent to 78 million as at end--2005 from a year ago, thanks to strong growth at the telco's associates. This is the largest mobile customer
      FILE PHOTO  -  375 words
    • 357 6  -  Their order books hit $6.33b, $9b respectively By CONRAD RAJ RIG orders continue to pour into Singapore with both SembCorp Marine and the Keppel Group securing new proposals which will keep their yards here and abroad busy. PPL Shipyard, an 85 per
      357 words
    • 92 6 WEEEe Cheong (right), deputy chairman and president of United Overseas Bank, and Yeo Eng Cheong. executive VP. commercial credit sector, were presented with two scrolls of blessing at the UOB Commercial Credit Chinese New Year Reception yesterday. About 1.100 people attended the reception for SME
      YEN MENG JIIN  -  92 words
    • 228 6  -  By NANDE KHIN MAPLETREE Logistics Trust yesterday said it has completed its acquisition of a warehouse and production building for $45 million. The property, located at 2 Serangoon North Avenue 5, was bought from Fu Yu Corporation Ltd, after MapletreeLog yesterday exercised a call
      228 words
    • 271 6 UNION Steel Holdings, a metal recycling company listed on Singapore's mainboard in August last year, yesterday posted lower net profit and sales for its first half-year ended Dec 31, 2005. Citing lower sales to Indonesia and India, Union Steel said interim turnover fell
      271 words
    • COMPANY BRIEFS
      • 160 6 THE Australian Taxation Office (ATO) has deemed the distribution of shares in AVJennings Homes by Vantage Corporation to its shareholders in May 2002 as a capital gains tax (CGT) event and raised assessments against Vantage amounting to A 535.94 million (5544.21 million). Vantage has
        160 words
      • 73 6 BREADTALK Group Limited's unit, Shanghai Bread Talk Co, Ltd, has agreed to buy a leadsehold property in Shanghai for 28.6 million yuan (including renovation cost of 6.1 million yuan). Shanghai Bread Talk will also have to pay service charge 0f286,000 yuan, commission of 500,000
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      • 63 6 CHINA-BASED C&O Pharmaceutical Technology (Holdings) has posted a 30.5 per cent rise in net profit to HK532.33 million for its second quarter ended Dec 31, 2005. Q2 revenue rose 26 per cent to HK591.16 million. On a six-month basis, net profit rose 32 per
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    • 135 6 Bloomberg [HONG KONG] Mandarin Oriental International Ltd, which operates luxury hotels in Asia, Europe and the Americas, said it signed a contract to manage a new beachfront resort in Hainan that will be its first hotel in mainland China. The 292-room Mandarin Oriental in
      Bloomberg  -  135 words
    • 403 7  -  It's increasing capacity and product range By OH BOON PING INDIA-BASED pigment and agrochemical maker Meghmani Organics expects to grow 20 per cent this year by boosting capacity, expanding its product range and securing agrochemical product registration. Some 322 agrochemical registrations are being processed in 56
      403 words
    • 107 7 DEUTSCHE Bank said yesterday it will team up with Sharelnvestor to launch an online service that will give retail investors free real-time access to structured warrant prices. Deutsche said the service, db-live, will also enable traders to create a customised watchlist that they can track
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  • Page 4 Advertisements




  • SINGAPORE MARKETS
    • 866 8  -  CURRENCIES US$ stages good rebound, but selected Asian currencies even hotter LARRY WEE Senior Correspondent THE US dollar has enjoyed a spirited rebound against some major counterparts but, with the notable exception of the Japanese yen, a good number of Asian currencies
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    • 721 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Feb 7 and earlier) Subsantial No of Price SHAREHOLDING Shareholder/ Buy/ Shares Pw Before After Stock Trans Pate Director Sol 000 Shr fW) f**! FDS Networks 6-Feb-06 Yip Man Yu Sell 150 na 5109 6.91 4959 6.70 Youcan Foods 6-Feb-06 Macondray
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    • 82 8 TEMPLETON Asset Management has reduced its deemed interest in Fraser and Neave (F&N) from 6.66 per cent to 5.98 per cent after disposing of shares in F&N. The change was the result of a series of transactions that occurred between Sept 29,2005, and
      82 words
    • 115 8  -  By LESLIE YEE MACQUARIE Pacific Star Prime Reit Management (MPSPRM) has sold down 407,000 units in Macquarie MEAG Prime Reit (MMP Reit) thereby reducing its stake in MMP Reit from 0.13 per cent to 0.08 per cent. MPSPRM is the manager of MMP
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    • 292 8  -  Compiled by LESLIE YEE Eu Yan Sang International Feb 7 Close: $0,645 OCBC INVESTMENT RESEARCH, Feb 7 EU Yan Sang International's (EYS) share price may be on the high side. EYS saw its earnings before interest and tax (Ebit) drop surprisingly by 2.3 per cent year-on-year to $4.7 million
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    • 392 8  -  STOCKS R SIVANTTHY Senior Correspondent ACTIVITY in the local stock market is reaching frenetic levels, judging by yesterday's action when volume hit its highest this year and, possibly, the highest in six months while simultaneously spreading to the market's lower-priced regions. In some cases, the interest
      392 words
    • 174 8  -  CHART POINT By YEO KEE YAN, chartist at Kelive Research THE pre-Chinese New Year rally continued after the holiday as rotational interest spilled into second and third liner stocks. The Straits Times Index rose to 2,450 while the UOB Sesdaq smallcaps proxy touched
      174 words

  • Page 9 Advertisements
    • 4642 9 JOINT ANNOUNCEMENT regulatory approvals (a) The Securities Industry Council has confirmed that, inter alia, rules 14,15,16,17, 20.1,21,22, 28, 29 and 33.2 and note 1(b) to rule 19 of the Code do not r P INDUSTRIES LIMITED CIH LIMITED apply ,0 S ol 9 subiect ,0 to,k)win 9 conditions ur IHI/UO
      4,642 words

  • SINGAPORE NEWS
    • 508 10  -  They live longer than men and have less savings for retirement By CONRAD TAN MORE older women need to be encouraged to return to work, as many of them have less savings than men to see them through retirement, says labour chief Lim
      508 words
    • 110 10 Reuters US investment bank Morgan Stanley said its Singapore-based South-east Asia economist, Daniel Lian, had left the firm. A spokesman yesterday said the high-profile economist left last month, but declined to give a reason for his departure. Mr Lian could not be reached for comment.
      Reuters  -  110 words
    • 436 10  -  By ROLAND LIM AFTER pumping in $150 million in 2003 to expand its semiconductor business in Singapore, Matsushita Electric Industrial Co Ltd yesterday announced that it would invest another $150 million to build a new semiconductor assembly and test plant in Ang Mo Kio.
      436 words
    • 356 10  -  By MICHELLE QUAH THE manager of a sole proprietorship who was convicted on Monday for Goods and Services Tax (GST) evasion was sentenced yesterday to three months' jail and ordered to pay three times the tax she undercharged. And her sister-in-law, who
      356 words
    • SINGAPORE ROUNDUP
      • 108 10 THE Immigration Checkpoints Authority (ICA) said yesterday it would stop accepting Malaysia Restricted Passports, or MRPs, as valid travel document to Singapore from July 1 this year. This is in line with the international practice requiring all travel documents to have a validity of at
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      • 88 10 SINGAPORE'S Minister for Manpower and Second Minister for Defence Ng Eng Hen is in Brunei on a three-day introductory visit from Feb 6 to 8. The visit is hosted by Brunei's Deputy Minister for Defence, Pehin Datu Singamanteri Colonel (Ret) Dato Paduka Haji Mohammad Yasmin
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    • 207 10 THE historic Ford Motor Factory the site of the British surrender of Singapore to the invading Japanese forces during World War II and the first motorcar assembly plant in South-east Asia will be gazetted for preservation as a national monument on Feb 15.
      JOYCE FANG/ST  -  207 words
    • 371 11  -  Two initiatives launched to help businesses to upgrade By NANDE KHIN SINGAPORE'S textile and fashion businesses got a boost yesterday in their effort to revamp and upgrade themselves. Two new initiatives, led by the Textile and Fashion Federation (TAFF), to help its members enhance
      FILE PHOTO  -  371 words
    • 230 11 ALEXANDRA Centre has hit the market for collective sales, making an entry with a $40 million asking price. This works out to $270 psf per plot ratio inclusive of an estimated $1,153 million development charge. The freehold property on Alexandra Road is zoned
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    • 304 11  -  By CONRAD TAN INFRASTRUCTURE is the hottest investment pick this year, and possibly even for the next decade, according to Zurich-based private bank Clariden. "We think this is the biggest emerging investment theme for the next five to ten years. There is a tremendous amount
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  • Page 10 Advertisements
    • 1228 10 m NOTICES Toll free: 1800-289-8822 Email: notices@spli.com.sg IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF H. M. COIMAR PTE LTD (Co. Reg. No. *****0666K) NOTICE OF RESOLUTIONS FOR MEMBERS' VOLUNTARY WINDING UP (PURSUANT TO SECTION 290) At an Extraordinary General Meeting of the members
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    • 218 10 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF CONCRAFT SINGAPORE PTE. LTD. Company Registration No.: *****3975H (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act (Cap. 50) that the final general meeting of
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  • Page 11 Advertisements
    • 1179 11 CEI CONTRACT MANUFACTURING LIMITED I ANNOUNCEMENT RESULTS The unaudited results of the Group and of the Company for the financial year ended 31 December 2005 are as follows: GROUP 2005 2004 $'000 000 Revenue 70,562 62,451 13.0 Cost of sales (51,378) (43,859) 17.1 Gross Profit 19,184 18,592 3.2 Other income
      1,179 words

  • ECONOMY WATCH
    • 394 12 Report underlines the problem is not merely one of urban-rural divide Reuters [BEIJING] The gap between rich and poor in China's cities has reached alarming levels, the main economic planning agency says in the latest high-level warning of the inequalities spawned by breakneck
      Reuters; AP  -  394 words
    • 524 12 Reuters [WASHINGTON] World Bank President Paul on Monday promised a rigorous and vocal campaign against corruption in developing countries that the bank lends to and inside the bank itself. In a 90-minute staff meeting, beamed to World Bank offices around the globe, he
      Reuters  -  524 words
    • 668 12 Reuters [TOKYO] The yen's slide to sevenweek lows will likely worsen nearterm as its technical signals deteriorate and markets that have moved in an eerie inverse relation with the currency extend their winning streaks. Just a month ago it seemed the
      Reuters  -  668 words
  • Page 12 Advertisements
    • 58 12 ■o% Interest InstalmenHorCredit Card Available I OB SLEEP ON WATER SLEEP ON WATER TO RELIEVE THE SYMPTOMS Waterbeds are made from strong, smooth vinyl that is extremely hygienic. Top covers can be washed preventing accumulation of dust mites and other harmful particles. It also relaxes, refreshes and renews the mind
      58 words
    • 32 12 I Get a —r-v A Leading Edge J Your sailing schedules get wider attention in The Business Times shipping pages Call Bernard Ong at 6319-1645 or Michael Chng at 6319-2026 Shipping Times
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  • MALAYSIA/INDONESIA
    • 564 13  -  Its 30% owned M.Mobile to supply 1m cellphones to Saudi firm By PAULINE NG in Kuala Lumpur AS Malaysian companies go, few would have heard of Kosmo Technology Industry. But now that it has clinched a deal to supply Saudi Television Manufacturing Co
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    • 382 13 [JAKARTA] Indonesian Finance Minister Sri Mulyani Indrawati said her ministry was currently handling some 6,000 "unsolved" cases that were handed over by the now defunct Indonesian Bank Restructuring Agency (Ibra) and that a new special team must be set up to handle the
      382 words
    • 2409 13 VOL Hb7 KM W- 000) ASM Realty 1.41 unch 1 Abric .0.35 -0.01 9 ACP Industries 0.69 -0.01 321 Advance Synergy .0.25 -0.01 315 Adventa 0.29 -0.01 889 AEMuIti 0.34 0.02 401 Affin Hldgs 1.62 0.01 344 Ahmad Zaki Res 1.28 unch 4 AJCCorp 1.15 unch 1 Air
      2,409 words
    • 161 13 [KUALA LUMPUR] Maxis Communications Bhd and DiGi.Com Bhd may report better net profits in the fourth quarter of 2005, helped by new subscribers after they cut prices of prepaid kits further, according to a report in Malaysia's Business Times. The paper said that
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    • 561 13 [KUALA LUMPUR] Share prices of Malaysia's sec-ond-board companies, which were lagging behind their bigger counterparts on the main board over the past two years, are making a comeback, according to a Star Biz report. The tabloid points out that in the five weeks since
      561 words
    • 267 13 [KUALA LUMPUR] Malaysian companies that service the oil and gas sector can go after international jobs if they work together by forming groups, Malaysia's Business Times yesterday quoted a top company official as saying. Malaysian firms are now equipped to go
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    • 476 13 Reuters [JAKARTA] A former Indonesian minister of religion was sentenced to five years in jail yesterday over a funds scandal involving the Haj pilgrimage, one of a number of cases underscoring the president's war on corruption. The Central Jakarta District Court found
      Reuters; REUTERS  -  476 words

  • GREATER CHINA
    • 372 14 Move will allow govt to tackle failed financial institutions Reuters BEIJING] A new bankruptcy law for China is likely to be approved this year, paving the way for new rules to tackle failed banks, insurers and stock brokerages, the official China Securities
      Reuters  -  372 words
    • 417 14 Reuters [SINGAPORE] China's top oil and gas company is considering teaming up with a Russian firm to increase its chance of winning an auction for a unit of TNK-BP, Russia's second largest oil producer, people familiar with the situation said yesterday.
      Reuters  -  417 words
    • 352 14 [BEIJING] A corruption scandal involving copy giant Fuji Xerox's Chinese subsidiary gained traction on Monday after a lawyer involved in the case was suspended by his firm, according to the South China Morning Post. Zhang Decai, a lawyer at Beijing-based law firm Zhonglun
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    • 521 14 CEO expects profit this year with break-even by Q3 Bloomberg [SHANGHAI] Semiconductor Manufacturing International Corp (SMIC), China's biggest chipmaker, posted a smaller-than-expected fourth-quarter loss as increased orders limited price declines. The net loss was US$l5 million, or 4.1 cents per American depositary share,
      Bloomberg  -  521 words
    • 543 14 [HONG KONG] A second quarterly rise in the number of Hong Kong homes worth less than the debt on the properties poses no threat to the banking system, The Standard reported banking chief Joseph Yam as saying. The number of residential
      BLOOMBERG  -  543 words
    • 487 14 Reuters [TAIPEI] Taiwan's two largest LCD screen manufacturers, AU and Chi Mei, are set to report strong fourthquarter earnings this week after the year-end buying boom boosted shipments and panel prices. Glut fears linger and seasonal demand tapers in the early months
      Reuters; BLOOMBERG  -  487 words
  • Page 14 Advertisements

  • INDIA
    • 647 15 More ChinaIndia joint oil deals expected Joint acquisition of Syrian field brings competitors CNPC f ONGC together Reuters [SINGAPORE] The flagship oil firms of China and India have closed their first-ever joint acquisition, the US$5BO million takeover of an asset in Syria, which would likely pave the way for more
      Reuters; AP  -  647 words
    • 377 15 Reuters [MUMBAI] JP Morgan is planning to set up an asset management unit in India, joining other global financial services firms seeking to benefit from growing demand for mutual funds, according to sources. India's mutual fund industry has been expanding
      Reuters  -  377 words
    • 575 15 8.1 growth forecast fuels Indian stocks Bloomberg. AFP [MUMBAI] Indian stocks rose, with the Sensitive Index climbing to a record for a second day, after the government said economic growth may accelerate to 8.1 per cent in the year ending March 31. ICICI Bank Ltd led advances. "The economic fundamentals
      Bloomberg.; AFP; BLOOMBERG  -  575 words
    • 862 15  -  Distribute economic growth by improving the business climate in slow-growing states By ANDY MUKHERJEE Bloomberg WINDFALL gains are seldom an unalloyed blessing for an economy, and very often a curse. Economists call it the "Dutch Disease", a reference to the deindustrialisation that took place in
      Bloomberg  -  862 words
  • Page 15 Advertisements
    • 120 15 Globalise Your Brands Protection Of Intellectual Property Rights is our Business TRADEMARK name, words, brand, logo, figure, device, picture, slogan or any sign distinguishing your goods or services from that of your competitors indicating quality and acts as a badge of origin. Protection of these rights gives you a commercial
      120 words
    • 30 15 i m—■ I 1 I 125 Years I Call Berlitz today 6733-7472 or vlalt www.berlltz.com jj 501 Orchard Road *05-03/04 Wheelock Place Singapore *****0 j s3sv WmOMTMEI i— ■—■hi 11
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  • ASIA-PACIFIC/WORLD
    • 610 16  -  Demand running well ahead of supply in metals, oil, agri products By ANTHONY ROWLEY in Tokyo THE rise of China and other emerging economies has triggered a boom in commodity prices that could last another 15 years or more, one industry
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    • 420 16 Move is expected to draw increased investor interest raise issuer quality Reuters [BANGKOK] Thailand is preparing to allow foreign firms the opportunity to issue baht-denominated bonds in a bid to develop a market seen doubling over the next five years. A new
      Reuters  -  420 words
    • 480 16 Bloomberg [CANßEßßA] Telstra Corp, Australia's biggest telephone company, probably had an 11 per cent drop in first-half profit as chief executive officer Sol Trujillo began plans to cut a fifth of his workforce and stem the loss of home-phone customers. Net
      Bloomberg  -  480 words
    • 506 16 AFP [TOKYO] Toyota Motor, the world's number two automaker, said yesterday its net profit jumped 34 per cent in the third quarter to a record high, helped by the growing popularity of its fu-el-efficient hybrid cars. Toyota, which is
      AFP  -  506 words
    • 304 16 [BANGKOK] Golfing sensation Tiger Woods has refused to act as Thailand's representative as proposed by the Tourism Authority of Thailand (TAT), which is campaigning to encourage more visitors to the Kingdom, The Nation reported TAT executives as saying on Monday. Tourism
      AP  -  304 words
    • 212 16 AFP [TOKYO] The founder of scandal-tainted Japanese Internet firm Livedoor, already under arrest for allegedly breaching securities laws, is now also suspected of insider trading, a newspaper reported yesterday. Takafumi Horie is suspected of selling six million Livedoor shares after learning one of his
      AFP  -  212 words
    • WORLD WATCH
      • 133 16 Reuters [DETROIT] General Motors Corp yesterday cut its dividend for the first time in more than 13 years as it struggles to save money after a year of billions of dollars in losses. GM's board of directors cut the dividend in half, to
        Reuters  -  133 words
      • 65 16 Bloomberg [ATLANTA] Coca-Cola Co, the world's biggest soft-drink maker, said fourth-quarter profit fell 28 per cent on a decline in US soda sales and higher tax costs. Net income dropped to US$B64 million, or 36 cents a share, from US$l.2 billion, or 50
        Bloomberg  -  65 words
      • 106 16 Bloomberg [SYDNEY] Macquarie Bank Ltd, Australia's largest investment bank, said it plans to list its Korean toll road fund before the end of March 2006. "Preparations for an initial public offering and listing of the Macquarie Korea Infrastructure Fund are continuing," said the
        Bloomberg  -  106 words
      • 109 16 Reuters [CANBERRA] The Australian government yesterday said it will sell its 13 per cent stake in the country's leading renewable electricity generator Snowy Hydro Ltd. The move follows an announcement by the New South Wales state government in December that it would sell
        Reuters  -  109 words
      • 91 16 Bloomberg [BANGKOK] Bangkok Metro Co Ltd, which runs the Thai capital's subway system, said it had cancelled its plan to hold an initial share sale next week because of investors' concerns over the country's slumping stock market. The company was told by its financial advisers that
        Bloomberg  -  91 words
      • 63 16 Reuters [NEW YORK] Husky Energy Inc's fourth-quarter profit nearly tripled, helped by high commodity prices, Canada's No 4 oil producer and refiner said on Monday. Husky, majority-owned by Hong Kong billionaire Li Ka-shing, earned C 5669 million (*****.5 million), or C 51.58 a share,
        Reuters  -  63 words
      • 126 16 Reuters [SAN FRANCISCO] International Business Machines Corp said on Monday it had developed new chipmaking methods that will allow its upcoming Power 6 computer processor to run twice as fast as current versions. Instead of just making transistors smaller, IBM came up with
        Reuters  -  126 words

  • WORLD
    • 638 17 Muslim countries switching to their products; Iran cuts trade relations Bloomberg, AP AP [DUßAl] New Zealandbased Fonterra Cooperative Group Ltd, the world's biggest dairy exporter, and France's Groupe Lactalis, Europe's biggest cheese maker, may be set to gain from a Muslim boycott of
      Bloomberg, AP; AP; AFP  -  638 words
    • 454 17 Reuters [KEY BISCAYNE, Florida] Hedge fund managers, many of which were forced to register as investment advisers for the first time this month, now have a new worry: legions of government inspectors poring over their books and finding arbitrary violations. At an industry
      Reuters  -  454 words
    • 308 17 NYT [PARIS] The quest for the holy grail of beauty begins in a bathroom laboratory near the Place de la Concorde in Paris for one of the leading international beauty giants, L'Oreal, and one that the company is reproducing around the world. Like its
      NYT  -  308 words
    • 431 17 AFP [LOS ANGELES] Media entertainment giant Walt Disney Co said on Monday that its quarterly profit rose 7 per cent from a year ago to US$734 million on the strength of television, resort and theme park operations. The company said
      AFP  -  431 words
    • 516 17 Reuters [LONDON] BP Pic posted a 26 per cent surge in fourthquarter replacement cost profit yesterday thanks to high oil prices, but weaker-than-expected results in refining and gas and power units meant the firm undershot forecasts. The world's secondlargest listed oil
      Reuters  -  516 words
    • 495 17 Reuters. AFP. Bloomberg [LUXEMBOURG] Luxembourg Budget Minister Luc Frieden said yesterday that the government would put forward a bill to adopt a European Union takeover directive, giving companies the tools to defend themselves against hostile takeovers. European steelmaker Arcelor's stock fell 3.4 per
      Reuters.; AFP.; Bloomberg  -  495 words

  • AVIATION
    • 1097 18 A chance to travel Trump-style at bargain prices Trump's site also explores the use of celebrities in e-commerce NYT [NEW YORK]— Donald J Trump, bargain hunter? That's the idea behind the latest venture from the real estate mogul, reality series star and failed airline executive, who recently reentered the travel
      NYT; REUTERS  -  1,097 words
    • 230 18 Reuters [NEW YORK] Virgin America Inc, the airline start-up with a brand name made famous by British entrepreneur Richard Branson, said on Monday that it named as its chairman Don Carty, the former chairman and chief executive of AMR Corp. Mr Carty quit the
      Reuters  -  230 words
    • LOG BOOK
      • 42 18 Bloomberg [HONG KONG] Hong Kong Dragon Airlines will extend its Hong Kong-Dalian service next month to Shenyang in north-eastern China. It will fly to Shenyang via Dalian three times a week beginning on March 30. Bloomberg
        Bloomberg  -  42 words
      • 64 18 Bloomberg [KUALA LUMPUR] Air Asia Bhd said it carried 35 per cent more passengers in December compared with a year earlier. December traffic rose to 812,492, bolstered by a sevenfold growth in the number of people flying to Indonesia, where Air Asia began serving in
        Bloomberg  -  64 words
      • 58 18 AP [KUALA LUMPUR] Computer glitches in the passenger check-in system of Malaysia Airlines delayed the departure of 33 flights out of the country's international airport yesterday, officials said. The system malfunction affected Malaysia Airlines' flights out of the Kuala Lumpur International Airport as well
        AP  -  58 words
      • 33 18 AP [PARIS] Air traffic controllers launched a surprise strike in a protest over work conditions, halting all flights at Paris' Orly airport yesterday. Huge disruptions were expected.—AP
        AP  -  33 words
    • 263 18 AFP [TOKYO] The biggest individual shareholder of lossmaking carrier Japan Airlines (JAL) has called for the company's president to resign to take responsibility for its poor performance. Eitaro Itoyama, a former parliament member and the second-biggest shareholder in JAL with a
      AFP  -  263 words
    • 234 18 Bloomberg [FRANKFURT] SAS Group's Scandinavian Airlines, the Nordic region's largest carrier, posted a 1.8 per cent decline in January traffic after pilots in Denmark and Norway staged wildcat strikes that forced hundreds of flight cancellations. Scandinavian Airlines filled 65.9 per cent of available seating,
      Bloomberg  -  234 words
    • 560 18 ott ruan n* wjwit rro to i m aa BunoUbjd 5Q443 0815 iffinsra fohraln W HP !1 HI jjj| *]fjjj —mm mub Mni«'' a! SC T0W MIS66 i4io Jg|l|| mm m Oiiuoo D35HTT355 —UAMfi 6645 m 81* mm. E ||f| C°P-fc»»» $$j 5K973-J5TO —m m\ is
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  • Page 18 Miscellaneous
    • 205 18 CRYPTIC CROSSWORD trombone solo (5) harbour (7) boggan backing r^r lv<B ln o ye S™ r D av -S sownoN 2 A devil of a place for ferocious 14 Desert blow-ups (10) Across: 1 Runaround, 6 Might, 9 animals'(B) 16 Progressed air defence vehicle Mashing, 10 Existence, 11 Driblet, 3
      205 words

  • SHIPPING
    • 519 19  -  Move sets out the global standards of decent conditions of work By DONALD URQUHART [SINGAPORE] The International Labour Organization (ILO) has begun its twoweek Maritime Session that is expected to result in a new labour convention aimed at safeguarding the rights
      FILE PHOTO  -  519 words
    • 346 19 Bernama [KUCHING] Evergreen Marine Corporation, one of the world's largest mainline operators, launched a new China-Indonesia-Manila service out of Bintulu International Container Terminal (BICT) from December last year, deploying even bigger vessels in the range of 1,812 TEUs (20-ft-equiv-alent-units) capacity. "The weekly
      Bernama  -  346 words
    • 832 19  -  STRAIT TALK By DAVID HUGHES SOMETIMES you simply can't believe what you read. That was my initial response to reports coming in of the Red Sea disaster. Early accounts from survivors painted a scene of chaos on board the 35-year old ferry Al Salam Boccaccio
      AFP  -  832 words
    • 182 19  -  By DONALD URQUHART [SINGAPORE] Container shipping lines operating on the westbound trans-Pacif-ic route from the US to Asia, including Neptune Orient Lines' APL, say that they will raise rates for carrying commodities and chemical products, starting next month. The 11 member
      182 words
    • 432 19 Reuters {SEOUL/TOKYOI Dry bulk shipping rates have bottomed out, and some traders say rates are showing signs of a recovery. Spot voyage fixtures for modern panamax rates for the benchmark US Gulf to Japan route were assessed at US$32-33 a tonne yesterday, largely
      Reuters  -  432 words
    • 288 19 S6X '000 F*7 SS Vol CH Offshore -0-40 urich 1214 Chuan Hup .0.40 unch 1360 Cosco Corporation 1.29 0.01 ***** CWT Distribution .0.93 unch 76 Ezra Hldgs 2J02 0.07 1227 Freighttinks .0.07 0.01 ***** Grand Banks Yacht .0.90 unch 10 Jaya Holdings 126 -0.03 1809 Ki Venture -0.41
      288 words
  • Page 19 Advertisements
    • 104 19 1 22-24 Mar 2006 Singapore Expo maritimc www.apmaritime.com —"*^7 MWmmmm TUVALU SHIP REGISTRY QUALITY SERVICE LITY 1. Low taxes 4. Active role and representation in IMO 2. Agreements with lACS members 5. Worldwide network of surveyors J^ U tSJ y (s»^ttfl<sS? nCe f 6No trictk > n on nationality of
      104 words

  • EDITORIAL & OPINION
    • 517 20 EDITORIAL IT is now nearly eight years since the Asian financial crisis swept through the region devastating the economies of Indonesia, Malaysia and Thailand. But while Malaysia and Thailand have moved on, Indonesia is still haunted by some ghosts of the past. The country's
      517 words
    • 1259 20  -  Developed countries fear Internet has allowed developing world to gain at their expense LEON HADAR Washington Correspondent FOR members of the 1960s generation it was the 1969 rock concert at Woodstock. If you were there, you were part of the countercultural "mini-nation" in which
      AP  -  1,259 words
    • 759 20  -  THE BOTTOM LINE FRANK CHING EVER since the late *****, China has been saying that it requires a peaceful international environment as well as domestic stability in order to develop its economy. And after its people enjoy a higher standard of living, the country
      759 words
    • 1374 21  -  The question is: Will New Delhi's bold plan work or be ruined by rampant corruption? VIKRAM KHANNA Associate Editor ON FEB 2, Indian Prime Minister Manmohan Singh launched what is probably the biggest and most ambitious anti-poverty scheme ever attempted in India
      AFP  -  1,374 words
    • 105 21  -  LETTERS TO THE EDITOR Davinder Singh Senior Counsel Drew Napier YOUR article, "Justice Lai retires after 25 years of service" (BT, Feb 7), stated that I know "Justice Lai well". I did not say or suggest any such thing. Further, it is untrue and a grave
      105 words
    • 328 21  -  John T Hurst Singapore WHILE Michelle Quah's article "Wrong to blame auditors" (BT, Feb 6) was correct in identifying the responsibilities of auditors, I believe she understated their responsibility to the company's stakeholders (the employees of the company, the public, the creditors, the
      328 words
    • 97 21  -  Lo Tak Wah Director (Retirement and Investment) CPF Board WE refer to Nah Wee Kee's letter "Let CPF members invest all of their investment gains" (BT, Feb 3). CPF savings, including realised investment gains, are primarily for retirement. The 35 per cent limit is prudent
      97 words
    • 930 21  -  By ANDREW FERGUSON Bloomberg STROLLING through an Internet news database a few days after President George W Bush delivered his State of the Union address, I decided to do a little search. I entered the words "Bush" and "ambitious agenda" and whoosh! I was nearly
      Bloomberg; REUTERS  -  930 words


  • 10716 22 SGX MAINBOARD Transaction date: Feb 7 S2-Wk Tal Last Vol Day Laft Quota GrOtv Mv GrYM Nat MCap High Low Coda Company Sale +<- C000) Wtfr Low luyar SdUr Cvr S W iml 6.5 2 5716 1st Software 5c 3 +0.5 1741 3 2.5 2.5 3 12.1 20
    10,716 words

  • 6047 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local ciht In S$ In USS dy yr dy yr dy %yr Feb 6 Index Change Change Change Change Change Change World Index Pre*min»Y 995.2 02 2.6 -0.4 1.0 0.1 3-2 < EAfE Piefctiiraiy 1006.8 03 3.7 -0.4 2.6 01 4.8 Europe
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  • Page 24 Advertisements
    • 1133 24 I I j I I IliffUHr «V^Q^Emil^VH #*3KW% >. mm t NYK GROUP SOUTH ASIA PTE LTD \l "Ia ApB)«VCVf TEL 6295 0123 XV JK M C 9 Am LINE Fax:*****Bs6(Regionalsales)/6239 7109(OPS)/6299 5785(Documentation) *> NIPPON YUSEN KAISHA TOKYO »»*KU KASMA. 170. (C/R NO: **********0E) UK CONTINENT SERVICE U.S.A. SERVICE f
      1,133 words
    • 557 24 IEfTBUIU toto HKVKI vtssa/voT rampi w) hbghhw wc «m ia aw jkt STUITSVOTUK 03/04 1$ 3.2 07/0? 10/0? STRAITS EXPRESS TIN 30 4.1 14/0? STIAITS VBITUK 04/0* 15 3.2 10/03 13/03 I I lAlWWtitiU Klift «mi»w YBsayvoT uffjoT wohwi lo ism i ob stp m mm kt lai I ifl
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  • Page 25 Advertisements
    • 1245 25 WAN HAI INTERNATIONAL PH LTD a N0t**********0/R I V TIL *****588 (MUMS) FAX: *****163 I WvWAN HAI LINES I IL. JOH IE; (07) KIOTO NUb 107)7511*7191IH; (031) J29J47S MX: (031) JJW7M/ CT1305 II -L-, *I*:(l71)S2i«l*fM:(Kl)S7S«l«rUI*:n*»/71«ll MJL7IUW IF m WWW.WMHI.CIB.JJ Ik ra> aw ww «w n M. H9 IS* E* If
      1,245 words
    • 1022 25 vessel VOY SIN XT HKG PtH UK KTH PUS VBSfl VOY JKT SU« HKG USX fUS HY PKOGKESS 10IS V 2 11/2 It/I 11/? 20/2 22/2 22/2 U*A»I WIS 12/2 IS/? It/2 21/2 25/2 24/2 HYUtDGf IO7S 11</21 2V2 2S/2 27/2 1/31 1/3 11 miC SINGAPORE 402S H/2 22/2 23/2
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    • 795 25 m WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS VKSB I VOT Isw |pjqan6[(ou>mio[n.sheva COiOtWO ISI fflt Mt dtfc dHfc =Mm= tOIAftIWWA YPWO79 20 FB 21FB 24 FB ZLffl fiUMA IHDIIA CAWDHI OIOIW 27 FB 211 FB 04 MAI 07 MAI ULitf KAJfV GAMDHI QIQIW
      795 words

  • Page 26 Advertisements
    • 995 26 ■■I i ~i tt«S422lWo7hctBlWl7 PJM Nordana (Asia) Pte Ltd 70 Sh—tow Way; *21-03MoHmH—m NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRAUA AND ISLANDS DATES Alt ARRIVAL DAIB VtSStt VOY Zmmn Fro—th Cocm \*mi Prist—s li\mi N* Island Eipross lE6OI X MJon 01_F®b 04Fab F«b bland Eipross 1E602 I]_W) 21_Fab
      995 words
    • 850 26 —75&- %/n —WW jar -S==fa=lfa= suss am gg«==i£==Ss=Hiii ffe==®=^^k= CV2301 0237P H/02 U/fiL- nttMlk* 25/02 20/02 VOY SM PIW ■MMiHNiNllialllfcMHHßßH I paciaucka s?ss m/w ~n/w vissa wr SM «u hSrSSSK sis* 14/02 u/02 PAtMPAT ft 03 21 07/02 M/« 5257 19/02 "21/02 PAt WAT Pt0322 14/02 1»/02 1 PACIAMGKA 525»
      850 words
    • 471 26 i BSA iL MYANMA n| FIVE STAR LINE (Mnnur Nolloml Un) > Loading for Yangon vessel voy sin na ra pgu CHIN SHWI WW WW SU) PAGAN J49W SU) IN MALAYSIA: lOUSTIAD SHIPPING AGENCIES KUI/PKL 03-300SS3M PIN: 04-2****** ACCEPTING CONVENTIONAL C6O VESSa VOY HKG SM KL IKH TIN ITU SDK
      471 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 7332 27 This 1 ETA ETA Advarttaar VhmI Voyag* Telephone SIN Dofn Nam* Nan* Numb* Number To ABIDJAN (ABJ) 2003 Cot* D'lvoire 16/02 15/03 Delmas URSULA DELMAS 612W *****344 16/02 21/03 China Shpg CMA CGM SEINE SX211W *****696 19/02 21/03 China Shpg CMA CGM ELBE SX213W
      7,332 words

  • MOTORING
    • 805 28  -  But traders note that any drop in car prices depends on related factors By SAMUEL EE TALK of a possible cut in the ARF or Additional Registration Fee from the current 110 per cent of OMV, or Open Market Value, to
      FILE PHOTO  -  805 words
    • 577 28  -  By SAMUEL EE THROUGH a $9 million project to rebuild and refurbish its Honda showroom, Kah Motor is contributing to the massive makeover that is slowly transforming Alexandra Road. The Honda distributor embarked on the project in December and construction is now
      577 words
  • Page 28 Advertisements
    • 203 28 Diners Club Card To apply, call 6416 0980 A World of Exclusive Privileges Treats /||K Diners Club j. International' IIHHHHr www.dmers.com.sg GOOD GAINS Let your investors know by advertising your financial results In our newspapers. Call 1800 289 8822 or email notices#sph.com.sg. 'M .v'-'-- ."/H W PUD Bf3TAUBi\NT <^iU6lne (>'Jrr<<e</
      203 words
    • 66 28 Value Mral* ;bi r f fill nrll |irr ilrm IVicit I I'rrr rlioirr oi rollrr/ir;fe/somiriiiUs Menu Nasi Goreng lstimewa 9 Hainanese Chicken Rice Katsu Don N Kamponq Fried Rice Sliced Fish Thick Beehoon Soup Singapore Laksa Fried Thai Style Kvvay Teavv (Pahd Thai) Grilled Chicken with Prata Bread Cordon Bleu
      66 words

  • Page 29 Advertisements
    • 26 29 m AllianzGl Global High Payout Fund rated 4-stars Allianz I bv Mercer Investment Consultinq. Visit OCBC Bank for details. ciobai investors J (omjwny regn mi *****/lf)9/
      26 words
  • executive Money
    • 1153 29  -  DENNIS MCEVOY and SALLY PHUA look at the pros and cons of the Supplementary Retirement Scheme DENNIS MCEVOY,SALLY PHUA FOR many, planning for financial security in old age can be worrisome. With recent reductions in employer Central Provident Fund (CPF) contributions, individuals should consider whether
      1,153 words
    • 6096 29 UNIT TRUSTS FUNDS AM Autre Asset Mgt (S'pore) Star Europe Eqtyt 0.893/ SerEtfopeBond 1-188/ WuropeBal 1.157/ S&Aaan Tiger E« 1.181/ sSltoBond-Z! -1312/ Asia Balanced 1.089/ Star GlobalTechnology fir*)!" 0-209/ MultiStH 1053/ Star Asia Bond*USD) 0.804/ Gl> Mult) St USD 1-144/ Asia Bond Fd A 97.17/ /tea Bond FdB 52.14/ AsiaTc
      6,096 words
    • 1438 30  -  Home loan restructuring, money market funds and one-year structured deposits can help stretch your dollar, says GENEVIEVE CUA GENEVIEVE CUA THE start of the year is as good a time as any for financial housekeeping. And one of the first items on your checklist should be:
      1,438 words
    • 847 30  -  MONEY MATTERS JOSEPH CHONG IN OUR internal investment strategy paper for Ql, we predicted that 2006 would be a tricky year for managing money contrary to the generally optimistic view espoused by most major global investment managers. Indeed, the various 2005 yearend polls of investment
      847 words
    • 342 30  -  By Chua Boon Lee Japan equity funds AFTER a performance last year that was one of its best since the golden era of toe 1980s, the Japanese equity market hit unexpected turbulence in January this year. The livedoor accounting scandal threatened to spiral out of control. But quick
      342 words