The Business Times, 21 February 2006

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Total Pages: 30
1 30 The Business Times
  • 16 1 THE BUSINESS TIMES Tuesday, February 21,2006 online at http*7/business-timesasial .com.sg MICA (P) 089^)3/2005 SINGAPORE 85 cents
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  • 811 1  -  Share of foreign business could go as high as 60% By ARTHUR SIM [SINGAPORE] Local architectural firms are clinching big jobs from Shanghai to Dubai, with the more prominent among them reporting up to 60 per cent of business is from overseas. DP Architects (DPA),
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  • 131 1 STI 2,431.77 (+0.43) ST INDEX FUTURES 2.433.00 (unch) siMsa 288.19 (-0.17) SIMSa FUTURES 288.50 (+0.30) MARKETS Monday Change KLSECOMP 925.18 -1.29 NIKKEI 225 15,437.93 -275.52 HANG SENG 15,598.67 +122.98 SET INDEX 734.65 -4.70 JAKARTA COMP 1,247.41 +3.94 MANILA COMP 2,084.10 -18.06 SEOUL COMP 1,348.25 +15.52 SHENZHEN B 251.76
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  • 553 1  - Ghangi calling get ready for space tourism Spaceport will let you go sub-orbital at US$100,000 a pop By CONRAD TAN [SINCAPORE] Space tourism has landed in Singapore. US-based company Space Adventures and a Singapore-based consortium yesterday announced a plan to build a spaceport near Changi Airport where anyone can experience
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  • TOP STORIES
    • 477 2  -  Entitlement letters will go out in late March By CHUANG PECK MING [SINGAPORE] Those who cheat or make false declarations when signing up for the $2.6 billion Progress Package unveiled last Friday could be jailed for up to seven years. But the harsh penalty
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    • 772 2 The stress is getting to bosses in Singapore A SURVEY has found that business owners here are among the world's most stressed. The study, by accounting and consultancy firm Grant Thornton International, shows Singapore ranks sixth worldwide for stress. Sixty-seven per cent of respondents here said that they
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    • 439 2 But Thai premier tells Cabinet members he will not quit By OUR CORRESPONDENT in Bangkok THAI Prime Minister Thaksin Shinawatra has said that he could call a snap poll if political pressure on him builds up further, a Thai government
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    • 681 2  -  By KALPANA RASHIWALA [SINGAPORE] City Developments, which raked in big bucks selling The Sail Marina Bay condo at the New Downtown in 2004 and 2005, intends to ride the continuing wave of demand for city living by releasing a 50-storey apartment project at
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    • 469 2  -  By S JAYASANKARAN in Kuala Lumpur SPECULATION that Malaysian state investment agency Khazanah Nasional could acquire the late Khoo Teck Puat's substantial interest in Britain's Standard Chartered banking group has been dismissed by a government official. "Yes, a proposal came to Khazanah about
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    • 32 2 IN BT's Results Announcements schedule yesterday, Nippecraft was shown as due to announce its fullyear financial results on Feb 20. The company has clarified that the correct date is Feb 28.
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    • 569 3  -  But survey finds them to be among most relaxed over job security By CHEN HUIFEN [SINGAPORE] No wonder few people want to be their own boss in Singapore a survey has found that business owners here are among the world's most stressed. The
      Source: Grant Thomson international  -  569 words
    • 444 3  -  We need to review all aspects of restructuring: CEO By VEN SREENIVASAN [SINGAPORE] Singapore Airlines has not yet made a decision on the sale of two key subsidiaries, its chief executive said yesterday. Chew Choon Seng said the company is
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  • Page 3 Advertisements
    • 140 3 I Ki k CELEBRATE OUR NEW FLIGHTS TO MOSCOW WITH A SPECIAL FARE OF $888*. Singapore Airlines flies to Moscow 3 times weekly from 1 March. Discover Russia's colourful capital rich in history and cultural heritage. From the world's grandest underground metro stations to stunning art performances, you will be
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    • 32 3 ASIAN AEROSPACE 2006 Indian economic dynamism to fuel aviation industry pg 20 It'll be the Singapore Airshow the next time pg 20 Air India chairman welcomes merger with Indian Airlines pg 20
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  • COMPANY NEWS
    • 538 4  -  Parent SembCorp denies any offer from Australia's Toll Holdings By CONRAD RAJ AUSTRALIAN media reports that SembCorp Logistics (SembLog) could be the target of an Australian takeover sent its shares and those of its parent SembCorp Industries (SembCorp) surging yesterday morning, prompting both
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    • 427 4  -  By AMIT ROY CHOUDHURY PSA Corporation has entered into a $20 million five-year outsourcing deal with local infocomm player Frontline Technologies Corporation. Mainboard-listed Frontline will help PSA with its IT (information technology) development needs during the contract period. The deal involves Frontline acquiring
      FILE PHOTO  -  427 words
    • 551 4  -  HOCK LOCK SIEW By WONG WEI KONG CONFIDENCE in water treatment specialist Hyflux is seeping out of the cracks, and it is looking more and more these days like a stock that cannot be relied on. Investors dumped the former market favourite and sent the shares tumbling
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    • 534 5  -  Hit by new broadband plans and lifting of moratorium on MediaCorp stake By SIOW LI SEN STARHUB shares have fallen some 8.5 per cent or 18 cents in the last two trading days, hit by a double whammy of government plans
      Source: Bloomberg  -  534 words
    • 261 5  -  By ARTHUR SIM ORCHARD Parade Holdings (OPH) has issued a profit guidance, saying that it expects a net loss for the fourth quarter and financial year ended Dec 31, 2005. The announcement follows a profit guidance made by associate company Yeo Hiap Seng
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    • 346 5  -  By ALEXANDRA HO CONTRACTOR and niche property developer Chip Eng Seng Group has reported a modest 8 per cent growth in net profit for the financial year ended Dec 31, to $11.3 million. The group said its profit was largely
      FILE PHOTO  -  346 words
    • 336 5  -  By LESLIE YEE SINGAPORE Reinsurance Corporation (SRC) has proposed paying a bonus cash dividend of 2.625 cents per share less tax of 20 per cent to pass on its Section 44A tax credits to shareholders. It also proposed a rights issue of up to
      336 words
    • 427 5  -  By ROLAND LIM ELECTRONICS manufacturer Venture Corporation Limited yesterday reported a 27 per cent rise in fourthquarter net profit to $54.8 million despite revenue falling 12.6 per cent to $877.5 million. Speaking at a results briefing, Wong Ngit Liong, Venture's chairman and
      FILE PHOTO  -  427 words
    • 420 6  -  Company takes on Kingsdere's pact to buy Kiani Kertas By WONG WEI KONG UNITED Fiber System (UFS) has taken a major step forward in its planned acquisition of Indonesian pulp mill, PT Kiani Kertas. UFS said yesterday it has taken on the exclusive
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    • 367 6 Bloomberg [LONDON] Noble Group Ltd. a Hong Kong-based commodities trading company, is suing a suspended aluminum trader for allegedly making unauthorised sales and purchases of the metal and falsifying the company's records to cover them up. Singapore-listed Noble is seeking unspecified damages from
      Bloomberg  -  367 words
    • 340 6  -  Big demand from oil and gas sector boosts order book By RONNIE LIM SESDAQ-listed AusGroup Limited an engineering services company serving mainly the oil and gas, and mining industries has clinched three big Australian contracts worth a total A 582.3 million (5599.2 million).
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    • 6177 6 UNIT TRUSTS FUNDS AM Amro Asset Mgt (S'pore) Star Europe Eqty!" 0.899/ Star Europe Bond 1.177/ Star Europe Bad 1.157/ Star Asian Tiger Eqly 1.168/ Star Asia Bond 1315/ Star Asa Balanced 1064/ Star Global Technology Futd!" 0.211/ MultiStFd 1 053/ Star Asia Bore*USD) 0.805/ Gtt) Multi St USD 1.133/
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    • 494 7  -  Move will result in lower transaction costs and attract more investors By R SIVANITHY THE Singapore Exchange (SGX) yesterday proposed lowering the minimum bid spreads for stocks, warrants, bonds and exchange traded funds (ETFs) to reduce transaction costs and, hopefully, boost liquidity. If
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    • 264 7  -  By LESLIE YEE DBS Group has hired former Hong Kong Monetary Authority (HKMA) executive director Amy Yip in the newly created position of head of wealth management. Joining DBS as a managing director, Ms Yip's portfolio at wealth management covers asset management and private
      264 words
    • 364 7  -  By WINSTON CHAI HELPED by a rise in the worldwide demand for its voice and data networking products, Aztech yesterday reported a 57 per cent increase in full-year net profit to $10.13 million. For the year ended Dec 31, 2005, the Singaporebased
      364 words
    • 214 7 Bloomberg SHARES of Overseas Union Enterprise (OUE) gained after the property company said it plans to distribute $584.2 million in dividends from the sale of 26.1 million shares in United Overseas Bank (UOB). The stock surged 70 cents, or 6.2 per cent,
      Bloomberg  -  214 words
    • 221 7  -  By CHEN HUIFEN HOTEL Negara, one of the non-core assets in the stable of United Overseas Bank, yesterday announced its full-year profit after tax more than doubled to $1.24 million, from $546,000. The performance was attributed to the improved climate in
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    • COMPANY BRIEFS
      • 105 7 AIRCRAFT component supplier TPA Strategic Holdings yesterday said it has agreed to sell wholly-owned subsidiary TPA Pte Ltd and stakes in three related companies to Satair A/S for $53 million. The payment will be $39.75 million in cash and $13.25 million in
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      • 68 7 BONVEST Holdings, a group engaged in property development, hotel management, food and beverage, waste disposal and contract cleaning 1 services, said net profit for the year ended Dec 31, 2005, rose 8.2 per cent to $24.37 million. Turnover was at $234.08 million, up from
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      • 54 7 KING'S Safetywear's revenue for 2005 rose 5.7 per cent to $82 million. Growth was led by Asia and Europe. However, due to higher operating costs, its net profit fell 25.5 per cent to $2.7 million. This year, business conditions are expected to remain challenging. But it
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      • 62 7 CREDIT rating agency Fitch Ratings yesterday revised the outlook on the long-term foreign currency rating of the Philippines' Globe Telecom Inc to stable from negative. At the same time, Fitch affirmed Globe's long-term foreign currency rating and senior notes at 'BB'. Meanwhile, Fitch also affirmed
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      • 52 7 ALLIED Technologies Limited reported a profit of $952,000 for the year ended Dec 31,2005, up from the $66,000 profit a year ago. This was achieved on the back of a 10 per cent rise in revenue to $148.7 million in FY2005, compared to $135.2 million
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      • 70 7 SHANGHAI Turbo posted a 128.8 per cent jump in FY2005 net profit to 59.2 million yuan (S$l 2 million). Turnover grew 31.8 per cent to almost 130 million yuan. It is planning to propose a dividend scheme where the proposed first and final dividend of
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  • Page 4 Advertisements
    • 352 4 still get a headstart Get up to speed even before you step into the office. Read oil the latest financial news, insights and analyses in the comfort of your home. Invest in a 12-month subscription of The Business Times at $225.25* (usual $265) and reap the rewards immediately. The first
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  • Page 5 Advertisements
    • 286 5 I Aztech I Aztech Achieves Profit Growth of j 57% to $10.13 million f Dividend Per Share Payout is 0.50 cents I* Turnover Net Profit 1 Ss'm Ss m 180-J ,2-1 152.14 10.13 150- mmm 10- no. mjj H :I 11 :M I I FY2003FY2004FY2005 FY2003FY2004FY2005 '■fS'' > s. SigSHßi
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  • Page 7 Advertisements
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    • 251 7 Learn from America's most successful B options educators! Make enormous returns with minimal risk Generate profit risking as little as SG$lOO cß^^wa^d 8 m Trade on the ASX, NASDAQ, NYSE or any other others tfs not the stocks major world stock and option market you buy, nut* Find explosive money-making
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    • 151 7 Singapore Lean Pharma Aug 9-11,2006 Management of Managers Nov 6 -10,2006 Q ft Bangkok Leadership in Action jun 19 -23,2006 Strategies for Growth Jun 26 28,2006 Effective Sales Management Jul 26 28,2006 j# Lean Manufacturing Aug 14 -16,2006 s Supply Chain Management Aug 17-19,2006 V# Building Organizational Capability for Strategic
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  • SINGAPORE MARKETS
    • 502 8  -  STOCKS Counters badly hit include many from the China and oil and gas sectors R SIVANITHY Senior Correspondent A SIMPLE glance at yesterday's Straits Times Index movement might suggest an uneventful day by recent standards the index hovered within a narrow band before closing
      Source: Bloomberg  -  502 words
    • 732 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Feb 20 and earlier) Subsantial No of Prict SHAREHOLDING Shareholder/ Buy I Shares Per Before After Stock Trans Date Director Sell '000 She °00) [000) TTLHIdgs 17-Feb-06 Tan Boon Tiong *Sell 2000 na ***** 5.69 8537 4.61 LowKengHuat 17-Feb-06 General Corp
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    • 184 8  -  By CHEN HUIFEN UNISTEEL Technology yesterday said that it has allotted about 2.42 million new shares to its executive director, Chee Teck Lee, as part of a deal to increase its interest in Valen Technologies (S) Pte Ltd from
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    • Article, Illustration
      982 8  -  Compiled by CHEN HUIFEN DBS Group Holdings Feb 20 dose: $16.10 PHILLIP SECURITIES RESEARCH, Feb 20 DBS posted 4Q05 net profit (excluding one-time gain and goodwill charges) of $384 million, below our expectations. FYOS earnings excluding goodwill of $1.95 billion was in line with market consensus. Including one-time
      Source: Bloomberg  -  982 words
    • 535 8  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar sagged across a broad front in Asian trading yesterday, even as commodity prices made an impressive turnaround from their losses late last week. With trading conditions made perhaps a little more jittery than usual by an extended weekend
      Source: Reuters  -  535 words

  • Page 9 Advertisements
    • 498 9 #^IbHBI drillllSF k n §g r w mm M H 1 T—^£S iSBSSr 2 §gg BM *iiwltfM w£flfl^E» 4ktM «#'f x XI tfttj t-3^^BjP|fj^B^^^^^B 1H T^^Bs^KoM s 'WmMm Hfl 11 4^SsT!^^^^H K4l -i BHHHL ss^^Bhdß '*^mmmm^^mmmmmmmmmmmumm> bhh^NlV^ How is ad-hoc expansion of your IT system affecting your business? Never. Tack.
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  • SINGAPORE NEWS
    • 353 10  -  Discussions on 37 manufacturing and service industry projects to be held By CHUANG PECK MING A DELEGATION from the Chinese city of Wuxi, which began a four-day investment seminar and exhibition in Singapore yesterday, is expected to go home with deals worth over US$l
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    • 302 10  -  By GENEVIEVE CUA OPTIONSXPRESS, one of the largest US online options brokerages, has set up an office in Singapore which it plans to use as the gateway into the region. The broker aims to tap into the growing appetite for options, as evidenced by
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    • SINGAPORE ROUNDUP
      • 102 10 THE Agri-Food Veterinary Authority (AVA) has suspended poultry and egg imports from Selangor with immediate effect, after receiving information on the detection of the HSNI virus in kampong chicken in a village in the Malaysian state. However, the current suspension will not affect poultry
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      • 73 10 THE President of the Republic of Lithuania, Valdas Adamkus (above) is making a state visit to Singapore from Feb tomorrow till Friday at the invitation of President S R Nathan. Singapore's Foreign Ministry said yesterday President Adamkus will call on President Nathan and Prime Minister
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      • 47 10 The Singapore government has sent humanitarian relief supplies to the Philippines in the wake of the devastation caused by the landslides in Southern Leyte, the Ministry of Foreign Affairs said yesterday. Supplies include medicine, food, blankets, tents and other relief materials.
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    • 198 10 MINISTER Mentor Lee Kuan Yew yesterday urged Indonesian leaders to visit and learn from countries such as India, China and Vietnam so as not to be left behind in the global economic race. Mr Lee spoke with parliamentary leaders led by Speaker of the
      SPENCER CHUNG/LIANHE ZAOBAO  -  198 words
    • 560 10  -  By MICHELLE QUAH SINGAPORE'S central bank has found GK Goh's former accountant guilty of insider trading, in the listed firm's recent sale of its stockbroking business to Malaysia's CIMB. But Goh Yu Ming was spared a court case unlike some previous offenders of
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    • 404 11  -  Supply plans signal Malaysia is interested in selling more gas to S'pore By RONNIE LIM WITH just two years remaining of Singapore's pioneer 15-year gas deal with Petronas, Senoko Power is still negotiating an extension of piped supply from Malaysia's national
      BLOOMBERG  -  404 words
    • 271 11  -  By OH BOON PING THE People's Association (PA) is aiming to raise the service quality throughout its 105 community centres and clubs here in a bid to extend its reach to different social groups. Meanwhile, it will continue to introduce new
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    • 440 11  -  From CLARENCE MICHAEL in Dubai ESYS Technologies FZE, a wholly owned subsidiary of Singapore-based eSys Technologies Pte Ltd, posted sales of US$l43 million last year, up 46 per cent from 2004. And it is looking to step up sales in the
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  • Page 10 Advertisements
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  • Page 11 Advertisements
    • 38 11 the new OUTLANDER MITSUBISHI SHOWROOM: 241 Alexander Road, Singapore *****1 Tel: 6473 9722 AUTHORISED DEALER: Cycle Carriage Fulco Motor Dealer, 22 Übi Road 4, Fulco Building. Singapore *****7 Tel: 6746 3000 Specifications may vary according to aiwercnt variants.
      38 words

  • SMEspotlight
    • 818 12  -  SMEs should not be put off by listing costs and other fears when the time to go public is ripe, reports NANDE KHIN NANDE KHIN SMALL businesses should not be put off by costs when it comes to a public listing, says the founder and
      FILE PHOTO  -  818 words
    • 898 12  -  Timber logs trader Farlin Timbers is on track to becoming a billion-dollar company in five years, says CHEN HUIFEN CHEN HUIFEN NO mountain is ever too high for Farlin Timbers, a new face in the Enterprise 50 awards. In fact, the more difficult the terrain, the
      YEN MENG JIIN  -  898 words
    • 909 14  -  Following last week's look at the finalists for the Emerging Entrepreneur category of the Ernst Young Entrepreneur of the Year Awards 2005, this week we examine the finalists for the Lifestyle, Hospitality and Retail category. The awards now into their fourth year have
      FILE PHOTO  -  909 words
    • 1646 15  -  UMA SHANKARI talks to two industry professionals, as well as the heads of two local SMEs about their takes on advertising and PR and their relevance to smaller companies UMA SHANKARI THE emphasis that companies here put on < building proprietary advantages casts
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    • 375 15  -  By TEH HOOI LING AFTER the strong run-up in the past few weeks, prices among the second line stocks corrected sharply in the last six trading sessions. From its recent peak of 98.96 points on Feb 9, the UOB Sesdaq Index has lost 6.8 per cent
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  • Page 12 Advertisements
    • 32 12 Lianhe Zaobao Declining Iwortforcel I Taiwan will I I face labnur I I shortages I I 10 years I I from now I I BtAPHfni I I 6S£<II!+#IB I «*HBX PHOENIX isi6~
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  • Page 14 Advertisements
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  • ECONOMY WATCH
    • 192 16 Bernama [BANGKOK] Thailand and Japan are preparing to sign their bilateral free trade area (FTA) agreement in early April, Deputy Commerce Minister Preecha Laohapongchana said here yesterday. Speaking after meeting Hideaki Kobayashi, Japan's Ambassador to Thailand, Mr Preecha said he discussed
      Bernama  -  192 words
    • 664 16 Refining margins to come under pressure between 2008 and 2010 Reuters [SINGAPORE] A global rush to build new refineries threatens to tip oil markets and industry profits into a tailspin, some analysts say, even as most still fret that the world will
      Reuters; REUTERS  -  664 words
    • 544 16 Analysts note higher pace of gains from 2005 Reuters [SINGAPORE] China will respond to rising US criticism by letting the yuan currency rise faster than it has been, analysts say, adding that the authorities seem prepared to accept a stronger exchange
      Reuters  -  544 words
    • 900 16  -  COMMENTARY More than half of Indian investors have a "highly optimistic" attitude towards financial markets By ANDY MUKHERJEE Bloomberg DRIVING from Mumbai airport to the city centre, one can't fail to notice that most billboards that dot the skyline aren't selling soap, clothes or
      Bloomberg  -  900 words
  • Page 16 Advertisements
    • 1352 16 >AT^ NOTICES In The Matter Of The Companies Act, Cap. 50 And In The Matter Of TRU-TECH ELECTRONICS PTE LTD (In Creditors' Voluntary Liquidation) (Co. Reg. No. *****7020N) Notice of Resolution At an Extraordinary General Meeting of the members of the abovenamed Company duly convened and held at 8 Robinson
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  • MALAYSIA/INDONESIA
    • 743 17  -  INDONESIA INSIGHT Without their cooperation, infrastructure upgrading plan unlikely to be achieved SHOEB KAGDA Jakarta Correspondent WHEN touring Central Java over the weekend, Vice-President Jusuf Kalla made a plea to regional government leaders to cooperate with the central government by "guaranteeing land for
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    • 656 17  -  NEWS ANALYSIS By PAULINE NG in Kuala Lumpur DIGI.COM, Malaysia's smallest mobile phone operator, has been running rings around its rivals. About two weeks ago, Temasek Holdings sold 1.4 million shares of state-owned phone company Telekom Malaysia (TM), nearly two years after it had
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    • 424 17 Move comes after SC rejects plea to annul hostile offer Reuters [KUALA LUMPUR] Southern Bank Bhd, the ninth- largest of Malaysia's 10 banking groups, will comply with a takeover notice from bigger rival Bumi-putra-Commerce Holdings [BCB) after the regulator rejected a plea for
      Reuters  -  424 words
    • BRIEFLY ASIA
      • 60 17 Bloomberg [NEW DELHI] Cipla Ltd, India's second-biggest drugmaker by sales, is seeking to buy technologies and specialty products to strengthen its product portfolio in India and overseas. Cipla is seeking the acquisitions "anywhere" in the world, joint managing director <\mar Lulla said yesterday. He declined to
        Bloomberg  -  60 words
      • 94 17 Bloomberq [JAKARTA] An Indonesian court yesterday acquitted Bank Mandiri's former Dresident director EC W Seloe and two former jirectors of corruption charges related to a ;orporate loan. Prosecutors ;annot prove "the state is at i loss", Judge Gatot iuharnoto said. A company vhich prosecutors alleged iad
        Bloomberq  -  94 words
      • 91 17 Bloomberg [SHANGHAI] China plans to relax rules on so-called qualified foreign institutional investors, or QFIIs, as part of efforts to widen access to the nation's capital markets, Zou Lin, vice-director of State Administration of Foreign Exchange, said yesterday. China intends to lower the
        Bloomberg  -  91 words
    • 244 17 Indon 3G operators may get no-upfront-fee incentive [JAKARTA] After earning millions of dollars selling frequency licences, the government may provide incentives for 3G operators, The Jakarta Post reported yesterday. Communications and Information Minister Sofjan Djalil said last Friday that the government would consider giving additional frequency blocks to 3G operators
      244 words
    • 2409 17 VOL Mkn m *t- r«M) A AM Realty Ml 0.01 11 Abric .0.31 -0.01 X ACP Industries .0.75 -0.01 403 Advance Synergy .023 -0.02 233 Adventa .029 -0.01 272 AE Multi 0 38 unch 299 Affin Hldgs 160 -0.01 491 Ahmad Zaki Res 1.30 0.01 30 AKCorp 109
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  • GREATER CHINA/INDIA
    • 555 18 Indian tycoon says he's very sad over 'racist' remarks about his bid -Reuters. AFP [NEW DELHI] French President Jacques Chirac yesterday accused Mittal Steel of launching its hostile bid to buy Arcelor without unveiling any plan for the European steel maker.
      -Reuters. AFP  -  555 words
    • 243 18 AFP [PARIS] Luxembourg-based steel giant Arcelor, the target of a hostile takeover bid by Netherlands-based Mittal Steel, wants to expand in India, notably by teaming up with auto parts manufacturer JBM group, a spokesman said on Sunday. With its abundant natural resources, India is
      AFP  -  243 words
    • 212 18 AFP [BEIJING] China's banking regulatory watchdog said yesterday that more than 1,200 of its own staff had been involved in irregular activities last year. The China Banking Regulatory Commission said 1,228 employees were involved with irregular funds that included illegal loans,
      AFP  -  212 words
    • 387 18 BIRD FLU AFP [NAVAPUR, India] Health, officials were grappling yesterday with inexperienced agricultural workers to slaughter thousands of chickens at the site of India's first outbreak of HSNI bird flu, officials said. The killings began on Sunday when only 20,000 of an
      AFP  -  387 words
    • 425 18 Sole non-executive director, aged 24, is economics student [HONG KONG] Listing candidate Nine Dragons Paper (Holdings) revealed in its prospectus released on Sunday that its only nonexecutive director is the chairman's son a 24-year-old student in the United States, the South China Morning
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    • 276 18 [HONG KONG] Five leading Chinese banks have joined the dominant interbank platform for spot trading of G7 currencies, according to the South China Morning Post. This follows the introduction two years ago of a scheme allowing the banks to lease credits to cut
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    • 343 18 AFP [NEW YORK] The US remains optimistic that it will clinch a landmark agreement with India on civilian nuclear cooperation, a top US diplomat said in a US magazine interview published on Sunday. "We're 90 per cent «f the way there,"
      AFP  -  343 words
  • Page 18 Advertisements
    • 547 18 ;*at^ €0 NOTICES BUY IT-SELL IT-FfND IT SINGAPORE REINSURANCE CORPORATION LIMITED (Company Registration No. *****0016 C) SUMMARY ANNOUNCEMENT OF AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2005 GROUP (I) Key Audited Financial Figures Incr/ 2005 2004 (deer) SS'OOO ssooo Profit Loss Items Revenue 81,617 103,121 (20.7) Underwriting profit 2,562
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  • ASIA-PACIFIC/WORLD
    • 488 19  -  Horie ordered 30m yen payment to the son of LDP secretary-general By ANTHONY ROWLEY in Tokyo THE collapse of Japan's Livedoor group will turn aut to be the biggest example of fraud in Japanese history, a former senior member of Prime Minister Junichiro Koizumi's
      488 words
    • 483 19 Reuters [LAGOS] Nigerian militants said they blew up a military louseboat and an oil pipeine yesterday, cutting supplies by a fifth and sending international oil prices surging. In London trading yes;erday, Brent crude oil for \pril settlement rose as much as US$l.59, or
      Reuters; AP  -  483 words
    • WORLD WATCH
      • 68 19 Reuters NEW DELHI] Advanced Micro )evices, the world's econd-largest chip maker, esterday said it expects India to >e its fastest-growing Asian narket, and aims to double its [rowth there during 2006. Henri lichard, executive ice-president, said China epresented a bigger market for he
        Reuters  -  68 words
      • 98 19 Bloomberg TOKYO] Nissan Motor Co of apan plans to cut production Dsts by 12 per cent in the three ears ending March 2008 by i laking better use of its global ictories. The company will i ltroduce technology that allows
        Bloomberg  -  98 words
      • 129 19 Reuters [WELLINGTON] New Zealand's largest listed power company, Contact Energy Ltd, yesterday said it planned to join with its parent company, Australia's Origin Energy, to form the biggest energy company in the region. The energy retailer, whose 10 power stations generate
        Reuters  -  129 words
      • 66 19 Reuters [MUMBAI] Indian software services provider Wipro Ltd yesterday said it had struck a deal to acquire US-based technology infrastructure consulting firm cMango Inc in an all-cash deal worth at least US$2O million. It said cMango had annualised revenue of US$l3 million and the
        Reuters  -  66 words
      • 105 19 AP [CAIRO] Osama bin Laden vowed never to be captured alive and said the US military had become as "barbaric" as Saddam Hussein in an audiotape posted on a militant website. The tape was the same as an audio first broadcast on
        AP  -  105 words
      • 104 19 Bloomberg [TOKYO] The Tokyo prosecutors' office filed charges against three former officials in Japan's Defence Facilities Administration Agency for bid-rigging in supply of air-conditioning equipment. The three—Takayoshi Kawano, Mamoru Ikezawa and Takashige Matsuda in 2004 and 2005 ordered air-conditioner makers to make arrangements
        Bloomberg  -  104 words
      • 84 19 Reuters [SYDNEY] Seven Network Ltd, Australia's No 2 ranked TV broadcaster, will outshine its peers in the first half with ratings for Desperate Housewives and Lost helping drive a big jump in profits, while PBL will rely on its gaming arm for
        Reuters  -  84 words
    • 358 19 Reuters [TOKYO] Sony Corp's game division yesterday said it still aimed to launch its next-generation Play Station 3 (PS3) video game console this spring, but the timing could be pushed back if it is unable to finalise the technology specifications. "We're aiming
      Reuters  -  358 words
    • 340 19 Bloomberg [MANILA] An explosion shook the grounds of the Philippine presidential palace yesterday but security forces said it was probably caused by chemicals in a trash bin set off by a lit cigarette, not a bomb. News of the blast helped push down the peso
      Bloomberg  -  340 words
    • 340 19 Bloomberg [MANILA] San Miguel Corp, the largest Philippine food and drinks company, may sell shares in its Australian business this year, and has asked Morgan Stanley to gauge investor demand, people familiar with the plan said. Proceeds from a sale,
      Bloomberg  -  340 words
    • 253 19 Reuters [MANILA] Ayala Corp, the largest conglomerate in the Philippines, posted a bet-ter-than-expected 12 per cent rise in 2005 profit, with strong growth in its water, property and banking businesses offsetting weaker telecoms. Ayala Corp president Jaime Augusto Zobel de Ayala
      Reuters  -  253 words

  • AVIATION
    • 754 20  -  ASIAN AEROSPACE 2006 Indian minister sees 25% year-on-year sector growth in next 10 years By VEN SREENIVASAN [SINGAPORE] Rapid economic growth, rising income levels and the dynamics of a nation of 1.1 billion people on the move will ensure that India remains one
      754 words
    • 419 20  -  By VEN SREENIVASAN [SINGAPORE] The chairman and managing director of Air India yesterday welcomed the prospect of merging his airline with its fellow state-controlled company, Indian Airlines. "It's a good idea, if it takes place," Mr Thulasidas said yesterday. "But this is
      419 words
    • 493 20  -  By GEORGE JOSEPH [SINGAPORE] Singapore kicks off the last in the series of the biennial Asian Aerospace shows today, giving notice that subsequent ones will be branded as the Singapore Airshow. At the official opening ceremony of Asian Aerospace last night, Deputy
      493 words
    • 456 20 Reuters [SINGAPORE] The head of the world's biggest airline group warned the industry against the danger of overcapacity yesterday, on the eve of the Asian Aerospace show at which carriers are expected to add to the record aircraft orders they booked last
      Reuters  -  456 words
    • 419 20 Reuters [DUBAI] Dubai launched its maiden voyage into the global aerospace industry on Sunday by investing US$l5 billion in an aviation services corporation that is eyeing the booming markets of Asia and the Middle East. Dubai Aerospace Enterprise (DAE) is the latest megaproject
      Reuters  -  419 words
  • Page 20 Advertisements
    • 106 20 ZUJI Deals of the Week n* t>4~^'.^«B am isr f BUSINESS (from S) ECONOMY (from S) HOTEL (from Bali $490 $164 $39 Garuda Garuda OESTKATWNS BUSittSS CLASS (from S) ECONOMY CLASS (front) HOTRffromS) Jakarta $490 (Garuda) $125 (Garuda) $57 Bangkok $499 $145 (SJMSS) $55 Hanoi $538 (Vietnam AirSnes) $188 (Vietnam
      106 words
  • Page 20 Miscellaneous
    • 181 20 CRYPTIC CROSSWORD DOWN 1 onHiocc (A\ 13 Debag first then this? Obtain Across: 1 Church mice, 6 Scab, 9 report from mission (7) Scram. 10 Glissades. 12 Gold and 3 Rnnk Three's rewritten (6) 14 Lady going round bed with silver, 14 Estimate. 15 Stored, 17 3 Book Three srewritten
      181 words

  • SHIPPING
    • 528 21 But Congress and administration at odds over question of whether security is compromised AFP, Bloomberg [WASHINGTON] The proposed deal for state conTolled Dubai Ports World to lake control of six major US ports was only approved afler security safeguards were included, a top
      AFP,; Bloomberg  -  528 words
    • 475 21 Reuters CHICAGO] United Parcel Service Inc (UPS) is using its own facilities in China as iiventory space for smaller OS companies that lack the bgistic capability to do business in that booming ♦conomy, top executives laid in a series of recent interviews.
      Reuters  -  475 words
    • 554 21 Bloomberg [SINGAPORE] Frontline Ltd, the world's secondlargest oil-tanker company, said fourth-quarter profit fell the most since 2002 and cut its dividend as an expansion in the global fleet seduced shipping rates. Net income declined 73 per cent to U*****.8 million from U*****.2
      Bloomberg; BLOOMBERG  -  554 words
    • 321 21 It wants 50-year concession, tax incentive and free int'l port status [JAKARTA] The Indonesian government is studying a proposal from French giant shipping and port management CMA-CGM Group for setting up an international hub port in Batam. This was after several potential
      321 words
    • 282 21 Bloomberg [HONG KONG/SINGAPORE] Cosco Container Lines Co Ltd, the biggest container shipping company in China, is seeking US$466 million to buy eight vessels, a banker who is involved in the deal said. Bank of China Ltd, BNP Paribas SA, Bank of TokyoMitsubishi UFJ
      Bloomberg  -  282 words
    • 285 21 ■■■MMBMH Feb 20 S> W- Vol CH Offshore 0.39 unch 883 ChuanHup .039 unch 1042 Cosco Corporation 1 JO -0.02 9397 CWT Distribution .0.90 -0.02 232 EzraHkta 2.08 -0.09 1315 Freight links 0 06 unch 593 Grand Banks Yacht .0.92 unch 0 Java Holdings 1.32 0.01 283 K1
      285 words
  • Page 21 Advertisements
    • 385 21 A true blue international event for maritime and shipping industry professionals. Come and experience refreshing ways of doing business in a new dimension! Who's Who in the Maritime World Be awed by 9 National Pavilions, 480 exhibiting companies from 44 countries, iff, lr /f 300 hosted buyers from Singapore and
      385 words

  • EDITORIAL & OPINION
    • 489 22 EDITORIAL EVERYONE loves a good story. Stockmarket investors, in particular, are always game for interesting investment ideas or themes, plausible stories that can help them make money. Which is why the research function is so important since it is here that ideas are generated and
      489 words
    • 738 22  -  THE BOTTOM LINE CHEW CHOON SENG TRAVELLERS dread delays. It must make them woider, then, why has the introduction of competition cn the Australia-US route been delayed so long. An unfortunate element in this debate is the blurring of the line between
      738 words
    • 1372 22  -  Is China's second-wealthiest man a rural developer or exploitive businessman? By PETER S GOODMAN The Washington Post THE Communist Party officials who run Baotou, a grimy steel town on the grasslands of Inner Mongolia, had big ambitions but little finance. So they called in
      The Washington Post; APPLE DAILY, HK  -  1,372 words
    • 885 23  -  Look for 'signposts in the fog' tax changes portend great economic potential By POK SOY YOONG THERE'S nothing really very exciting about this Budget! That's what I keep hearing. It's true that personal tax rates and corporate tax rates were not slashed
      885 words
    • 1299 23  -  By MARTIN FACKLER NYT YUKA Yamamoto dutifully quit work to assume her expected role as suburban homemaker when she married six years ago. But she quickly grew bored at home, and when she saw a television programme about online stock investing, she took USS2,OOO
      NYT; AFP  -  1,299 words
    • 147 23  -  LETTERS TO THE EDITOR Denis Distant Singapore I REFER to a DBS press release of Feb 17 pertaining to the group's full-year 2005 results, in which reference was made to a goodwill impairment charge of $1.13 billion for DBS Hong Kong,
      147 words
    • 395 23  -  Lu, Kee Hong Singapore I REFER to the article. "Looking beyond the share price", by Ven Sreenivasan (BT, Feb 17). I encourage listed companies to consider bold and unconventional remuneration packages like the one for the new CEO of Xpress Holdings, although we need
      395 words
    • 647 23  -  By DAVID BROOKS NYT ONCE, not that long ago, economics was the queen of the social sciences. Human beings were assumed to be profit-maximising creatures, trending toward reasonableness. As societies grew richer and more modern, it was assumed, they would become more secular. As people
      NYT  -  647 words


  • 10121 24 SGX MAINBOARD Transaction date: Feb 2C 52-Wk TH lart Vol Day Last Quote GfOtv Ot* GrVW Not MCap High low Coda Company Sal* COOP) High low »ayr Sdhr Cvr W W 6 2 5716 1st Software 5c 2.5 unch 75 2.5 2.5 2.5 3 10.1 20 6 3148
    10,121 words
  • Page 24 Advertisements
    • 23 24 Qolongor»hort dePOelt^ Comptttttw ttamctogrßtm jn f marta* A Amrima #g-| A^lnn IMC CiftM% Aftw*ifA v ••"".-i.v M ACCOSBIO ASHUI, UO, bww www ~Ew*&
      23 words

  • 6001 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES la tool art hi SJ la USS O, yr Itf %r ft*> 17 tndu* Changa CHanga Chang* Chug* Chang# Chang* World Index Pretorwwy 999.5 -02 31 -0i 13 0-2 35 t EAFf ftelimnaiy 0-2 12 Q3 2.1 0.1 33 Europe Prefcmwy 13S43 03
    6,001 words

  • Page 26 Advertisements
    • 1095 26 '-L-» nil pjßf l RJ9 o i 99** BI !llMy tW^"#—.< A WmKm jj^fl tg^^g^6^|^g^gSfg* w ß| #> J ~-t»» a* *l lyHjß: y I m' NYK GROUP SOUTH ASIA PTE LTD \SSA jfKzJNC wSS( TSi K LINE Fax: 6292 2856 (Regional sales) 6239 7109 (OPS)/ 6299 5785 (Documentation) NIPPON
      1,095 words
    • 562 26 iMtIIASIA MMO SHVKt 7 1 vßsa/vot BMwm I wamw we 10 s» STIATIS VWTUK 05/04 1 5 U 22/03 *5/03 30/03 02/04 04/04 STIAITS VENTUKE 06/06 15 1.1 04/04 W/04 20/04 23/04 25/04 smnsysmtK 07/ m is 12 27/w 30/04 04/05 07/05 w/os AUSm»U»H »o«o M«Via I VBSa/VOT MWQO) IHBGHTW
      562 words

  • Page 27 Advertisements
    • 1094 27 W£ CARE. WAN HAI LINES LTD, having the most intensive f and complete service network for ocean carriage, > V' IBT from Asia-Pacific to Mid-East, U.S West Coast, BHHMf v Europe expanding continuously throughout every spot in the world, providing the most efficient mmer I WmßmP* globalized service network that
      1,094 words
    • 181 27 TMm P. T. DJAKARTA LLOYD (PERBERO) If© AUSTRALIA FULL CONTAINBR SERVICE As Agents Starship Agencies (MAI) Pie lid Operator Code: DJ CR NO. **********0H VSi IVOTI SRI I P«6 IHB IMR I STO IMBI It API JAKARTA QMS 26/07 10/01 10/03 11/01 U/M 17/03 HHXIOTD ADBJUtX IQIS 05/03 07/03 13/63
      181 words
    • 1064 27 YESSa HOY SHI JT HKG Otti IK AH WIS VBSO VOY SJN JKT SUI HKG USX IDS mmm iyg w 25/2 2/3 4/3 t/3 »/3 «/3 kmtc jakakta tO3S w 1/3 2/3 7/3 11/3 12/3 HY PIO6KSS IQtS 2/3 4/3 1/3 11/3 IV3 13/3 15/3 KMT( PUSAN MBS 5/3 t/3
      1,064 words
    • 783 27 m a®aas« WEEKLY EXPRESS SAIUNG SCHEDULE I" ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS I rasa. vot Ism 1 pjoANGlaxonao I n s«va I coitwuo I I ALSOACOBPTWC Fa TO COOW. TUTKOMN (VIA COLOMO) AND UNDU t GOaI (VU N SWVA) CONNKTMG MOTHER VSIS TO BJtOff (FfiiXSTOM. ROTTBDAMj
      783 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 6242 28 This ETA ETA A+mtkm VjHMl "IT ™'gHl' gj* cim riait'n nmm Hum NMMMr NUHWtr 11/03 To ABIDJAN (ABJ) 2003 t „,.c~ Cot *£'!X£i r 02/03 04/04 China Shpg CSCl FELIXSTOWE 5X215W *****898 05/03 06/04 Mmas DELMAS BAUDIN 614W *****344 TO 07/03 18/04 China Shpg
      6,242 words
  • Page 28 Advertisements
    • 151 28 VESSEL VQV SHI fW VBStt VOY S* *T —us!—\m— |v« :a M -sis— Sr Bg IMS gg" =8= fg =H= PACIAHDA 1670W 11/82 W/tt f&5 ***** ***** gfMor o24ip mz®2 nm- KST 4M« -5/g —Kg PKIAMPA 14Z1N nm U/S2- PACIHITA* 9*41 rosa voy sm w« U/0I um vKsa VOY SM
      151 words
    • 215 28 IVtWI I VOY WQ- 1 I KAKACHI PX> P**** ,*"1, WAN SHAHRYAK PCI 1122 22/03 23/02 04/03 07/03 03/03 13/03 16/03 IV/W MAN IAAIAII KL 3123 01/03 02/03 11/03 14/03 15/03 21/03 24/03 27/03 WAN KOtDISTAW Kl 3124 09/03 10/03 I 04/°* IVISSIL VOY SIN NHAVAtHtVA JtML ALJ COCOM6Q CHmAOOWO
      215 words
    • 7 28 ■pSceyourapherU Bfe 1 H»!' >1 111 KmduVcfeimm
      7 words
    • 116 28 MYANMA nM five star une (Myooorar NatiMol Um) Loodißg for Yor|m vessel vor sin pkl pin pgu CHMSHWIHAW 90W SID PAGAN MfW SU> IN MALAYSIA: OOUSTEAD SHIPPING AGENCIES KUI/PKL 03-*****3 M PIN: 04-2*3311 S ACCEPTIiB COWVEWTIONAL CQO VESSB WTHK m KOI TIN ITU SOU TWU mass n u si it
      116 words

  • PROPERTY
    • 288 29 Reuters [FRANKFURT] Investors rushed to withdraw their cash from German property funds in January, industry data showed, in the wake of the freezing of three such investment funds and widespread fears that others could follow. In December, Deutsche Bank barred investors from selling
      Reuters  -  288 words
    • 322 30  -  Evan Lim Co beats three other bidders for prime site in en bloc sale By ALEXANDRA HO ANOTHER prime property has gone for collective sale for $32 million showing that momentum is continuing to pick up in real-es-tate en-bloc deals. This time, it is The Esquire,
      322 words
    • 572 30  -  By KALPANA RASHIWALA TWO large freehold residential sites have been put on the market through collective sales Paterson Tower in prime district 9 with a price tag of $280 million, and Rose Garden at Amber Road with a $167 million price tag. The
      572 words
    • 459 30  -  By ARTHUR SIM HOUSING specially built for elderly people has become a more viable option following the government's announcement that it will offer a residential site on a 30-year lease soon. Some property developers, though, think that there are other
      FILE PHOTO  -  459 words
    • 581 30 Asking price surges 2.7%, biggest rise since April 2004 Bloomberg THE price of the average British house rose above £200,000 (*****,000) for the first time as a pick-up in the property market gained momentum, according to Rightmove, a real-estate website. The average asking price
      Bloomberg  -  581 words
  • Page 29 Advertisements
    • 500 29 n i J l Behind Jf fr »n i Asia's best business —rrvspace ..at'"' solutions w? 1aH Your Trusted Partner in Business Space PATERSON TOWER slteatSPatereonmn I fend Area: 114,547 sq ft pPlot Ratio: 2.1, Max 24 storeys .No Charafi Shopping Belt 5 mire walk to Orchard Turn Devt Unobstructed
      500 words
    • 376 29 MORTGAGEE SALE OFFICE BUILDING FOR SALE BYTENDER 15 HOE CHIANG ROAD, EURO-ASIA CENTRE 29-storey freehold office building with 108 car park lots igsfc Land area: approximately 49,442 sq ft Gross area: approximately 244, 233 sq ft Walking distance toTanjong Pagar MRT Station Outline Approval granted for Residential with Commercial on
      376 words