The Business Times, 4 May 2006

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Total Pages: 32
1 32 The Business Times

  • TOP STORIES
    • 597 2  -  Big 3 accounted for bulk of the 26.8-point rise in the STI yesterday By SIOW LI SEN [SINGAPORE] The three local banks have roared to life, yesterday contributing 20 points out of a 26.8point rise in the Straits Time Index, which is
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    • 554 2  -  By KALPANA RASHIWALA [SINGAPORE] The owners of 16 terrace houses at Cairnhill Circle whose properties remained unsold following the collective sale of the next-door Hilltops Apartments site are relaunching the 49,856 sq ft freehold site. The owners said to include wealthy individuals
      554 words
    • 590 2 Oil-linked S'pore stocks ride crude spike OIL-RELATED stocks here hit year-highs yesterday as crude raced to US$75 a barrel, amid warnings by traders that the greater trading risks associated with such steep prices could dampen activity in Singapore's oil trading hub. Rig-builder Keppel Corp closed ata 12-month high
      590 words
    • 555 5  -  KepCorp, SPC hit year-highs as crude oil closes in on US$75 a barrel By RONNIE LIM [SINGAPORE] Oil-related stocks here hit year-highs yesterday as crude raced to US$75 a barrel, amid warnings by traders that the greater trading risks associated with such steep prices
      555 words
    • 578 5  -  Deal struck with Cirque du Soleil for US$100m in Macau By ARTHUR SIM [SINGAPORE] Las Vegas Sands chairman Sheldon Adelson reckons he can bring in any entertainment attraction he wants for his Marina Bay Sands integrated resort (IR). It's just a
      578 words
    • 133 5 ST! 2,659.65 (1-26.85) ST INDEX FUTURES 2,650.00 (+30.00) SIMSCI ***** (+3.01) SIMSCI FUTURES 317.20 (+3.60) MARKETS Wednesday Change KtSECOMP 950.23 -1.02 NIKKEI 225 Oostd HANG SENG 17.026.98 »158.94 SET INDEX 774.44 +€.18 JAKARTA COMP 1.499.07 +23.18 MANILA COMP 2,340.82 +35.18 SEOUL COMP 1.435.17 +0.27 SHENZHEN B Cloud MUMBAIIND
      133 words
    • 354 5 Bloomberg [DUBAI] Dubai, a sheikhdom in the United Arab Emirates, plans to spend US$33 billion to build what it describes as the world's biggest passenger and cargo airport, raising much of the capital from real estate sales. Called Dubai World
      Bloomberg  -  354 words
  • Page 2 Advertisements
    • 25 2 This Mother's Day Help Him Express His Love For Her. hjL Q PRIVATE JEWELLERS OF DISTINCTION t For A Private Viewing Please Contact 8733 4100
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    • 40 2 people HR's secret weapon. www.thepeople.itwork com Asia Pacific Executive Search &Release your financial Made a profit? results and share it. Call 1800 289 8822 or email notices@sph.eom.sg A"j>3 to book your financial results in our newspapers now. A notices f
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  • Page 3 Advertisements
    • 73 3 HBi <B£^. f- JAGUAR w" BAOt>J2^S^HBIMBH! r .p >y i ~x i»* I |w —vw^. l jh? 1 f BJHL ikdijSSWfi Pk' -^j H HKv P) v i Si I fllllWll II 111 I II 1111 I IB^—MBBBB I If J ■■BHP^ 1 Some strive hard for feme and recogi
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  • Page 5 Advertisements
    • 247 5 0 n TOP OF THE WORLD LIVING IN THE HEART OF THE CITY Jill JLjiwaM fffi ipSTpw-'T- .-VK HP M 11 j m /JB 2 j S I 188 pS ..v* -K--Y; 'r>n^ra^^jj^ME^ g i «j|':{H fi| „fl HMHj -j gjegg^ g H EBaflu3ftbWb!^^^rJMP ■aEi t Mg#W^PWIKMBM l|B^3HMjj|nH»Mp^^4Mp^JHMß& 1 j>*&\j?,
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  • GENERAL ELECTION 2006
    • 751 6  -  The integrity of the election process is the heart of the matter, he says By CHEN HUIFEN PRIME Minister Lee Hsien Loong said yesterday that the Workers' Party should get rid of its candidate James Gomez because he is an "albatross" who
      YEN MENG JIIN  -  751 words
    • 433 6  -  WP chief says he edited Gomez's letter of apology By CHUANG PECK MING WORKERS' Party chief Low Thia Khiang last night challenged Minister Mentor Lee Kuan Yew to sue him. Speaking in Mandarin at a WP rally in Nee Soon Central, Mr
      433 words
    • 186 6 MINISTER Mentor Lee Kuan Yew yesterday responded to Workers' Party (WP) chief Sylvia Lim's remarks on possible future defamation action against the People's Action Party (PAP) over the James Gomez affair.. Mr Lee said that any such action should be taken before
      186 words
    • 619 6  -  By NANDE KHIN FOUR of the Singapore Democratic Party's candidates for Sembawang GRC failed to show up at the party's rally at Woodlands Stadium last night. But if their supporters were disappointed, this was forgotten when SDP secretary-gener-al Chee Soon Juan and
      BRYAN VAN DER BEEK/ST  -  619 words
    • 383 6  -  By UMA SHANKARI CHIAM See Tong, who is seeking to retain his Potong Pasir constituency for the Singapore Democratic Alliance (SDA), last night countered Senior Minister Goh Chok Tong's statement that he lacks the funds to upgrade HDB blocks in his ward, and
      383 words
    • 548 6  -  By OH BOON PING THE People's Action Party has announced a $100 million upgrading plan for Hougang. and Senior Minister Goh Chok Tong says there has been a swing in support for PAP candidate Eric Low. The 10-year "2016 Plan" will include main estate
      548 words

  • COMPANY NEWS
    • 611 7  -  Rise in income from interest fees and commissions but expenses swell By LESLIE YEE UNITED Overseas Bank (UOB) yesterday attributed its 8.3 per cent year-on-year rise in net profit to $439 million for the first quarter of this year to higher net interest
      FILE PHOTO  -  611 words
    • 320 7  -  By LESLIE YEE IN a move to expand its foothold in Malaysia, OCBC Bank said yesterday that it will be setting up four new branches in the country by the end of this year. This will bring its total number of branches
      320 words
    • 610 8  -  Company hit by restructuring charges, flash memory price fall By OH BOON PING HIT by a drop in flash memory prices and one-time restructuring charges, Creative Technology yesterday announced a net loss of U*****.3 million for its third quarter. The heavy loss compares with
      FILE PHOTO  -  610 words
    • 595 8  -  HOCK LOCK SIEW By WONG WEI KONG THERE are essentially two things to take from Creative Technology's latest results. First, it's probably fair to say that Creative's MP3 strategy has gone awry as the company battles chief rival Apple for a bigger slice of the global
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    • 411 8  -  By CONRAD RAJ SEMBCORP Marine (SembMarine), the marine arm of local conglomerate SembCorp Industries, reported record earnings yesterday for its first quarter ended March 31, 2006, thanks to better operating margins from rig building and shiprepair as well as higher contributions from
      411 words
    • 355 8  -  By MICHELLE QUAH CONTINUED start-up costs stemming from Hi-P International's regional expansion have dragged its net earnings down by almost a third in its first quarter. The contract manufacturer's net profit fell to $14.4 million for the quarter ended March
      355 words
    • 600 9  -  AGM WATCH Going online will boost shareholder participation, says association's chief By MATTHEW PHAN ELECTRONIC voting and online posting of AGM minutes will lead to greater participation from shareholders, David Gerald, president of the Securities Investors Association (Singapore) told BT yesterday. Conversely, not making use of
      FILE PHOTO  -  600 words
    • 395 9  -  By NANDE KHIN NATURAL Cool Holdings, an air-conditioning and switchgear specialist that is seeking a listing on Sesdaq, has set its sights on expansion in China and India. It is selling 22 million new shares at 20 cents each in an initial public
      395 words
    • 279 9  -  By MICHELLE QUAH THE prime residential property of Duchess Court along Duchess Walk has been sold. Developer UOL Group said yesterday it has bought the District 10 site for $104 million. That en bloc purchase price works out to an average of $2.8
      279 words
    • 292 9  -  By NOOR AISHA COAXIAL cable specialist Hengxin Technology Ltd is offering 84 million new shares at 25 cents each in an initial public offering (IPO) for its Singapore Exchange mainboard listing. Hengxin is a key manufacturer of radio frequency coaxial cables
      292 words
    • COMPANY BRIEFS
      • 31 9 KEPPEL Corp said the group has received two contracts from Transocean Inc to upgrade two semisubmersible drilling rigs for a total of US$ 140 million.
        31 words
      • 37 9 SINGTEL said its number of mobile subscribers in the region as at March 31, 2006, has grown 31 per cent from a year ago to cross the 85 million mark.
        37 words
      • 76 9 SEMBCORP Industries will get an additional amount of about $44 million from the sale of its stake in SembCorp Logistics to Australia's Toll Holdings. This is over and above the $749 million it has already received based on $1.70 per SembLog share. This comes after Toll's
        76 words
      • 35 9 RAFFLES Medical Group reported a 26.8 per cent rise in net profit to $2.89 million for the first quarter ended March. Turnover rose 22.8 per cent to $30.91 million.
        35 words
      • 60 9 FU Yu Corp's net profit for its first quarter almost quadrupled to $17.8 million from $4.8 million in the previous corresponding quarter. Excluding exceptional items and a balancing charge on the sale of properties, underlying profit fell 58 per cent to
        60 words
      • 33 9 UNISTEEL Technology's net profit for the first quarter to end March rose 54 per cent to $11 million while revenue climbed about 44 per cent to $54.8 million.
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      • 32 9 HOTEL Properties Limited's first-quarter net profit attributable to shareholders dipped 4.5 per cent to $4.35 million while turnover was up at $71.79 million.
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      • 42 9 FOOD Junction's net profit for the half-year to March 31,2006, slipped 18 per cent to $3.04 million, from the year before. It cited asset impairment provision. Its revenues were 3.9 per cent down at $21.2 million.
        42 words
    • 295 9  -  By MATTHEW PHAN WASTEWATER treatment firm Metax Engineering Corp said it has won a second contract in India, worth about $7 million, to construct the pre-treatment sections of two effluent treatment plants. The contract means Metax is responsible for the entire construction
      295 words
  • Page 7 Advertisements
    • 25 7 Want the best deal? Invite tenders. Call 1800 289 8822 or email notiees@sph.com.sg to book your tender notice in our newspapers now. WAT-ii W NOTICES
      25 words
    • 308 7 aWECONNECT I H«ngxln Technology If ont of th« loading manufacturers of radio frequency (RF) coaxial cable series for mobile communications and telecommunications equipment 1n the PRC, with a strong focus on research, design and product development Our products are widely used In the transmission systems of telecommunications operators and service
      308 words

  • Page 8 Advertisements
    • 75 8 The new name to remember for memory: Mm Infineon Memory Products becomes Qimonda. KjMBmjOBBBBS/jOtttsiOKßS/ jttttl Biz fSKSSSij/BE&tt W SUbS jUfef flB WEBS SJOSS BO BBS BBS BK^Sjßß^Skl SSfjE JBBBm We're concentrating on our core business integrated memory Qimonda stands for creativity, passion, speed and our vision: solutions. With technological expertise,
      75 words

  • Page 9 Advertisements
    • 389 9 k THINK SOLUTIONS SERIES: SUPPLY CHAIN INTELLIGENCE Optimizing Regional Outsourced Logistics Networks 24 May 2006 2.00pm 5.30pm Amara Singapore Asia is fast becoming the world's factory and a major consumer market. In a 2004 report, it was envisaged that by 2030, China and India combined countrywide purchasing power would be
      389 words

  • SINGAPORE MARKETS
    • 553 10  -  STOCKS Rises in the 3 banks added 20 points to the index, with DBS and OCBC's combined contribution at 18 points R SIVANITHY Senior Correspondent THE three banks continued to power the Straits Times Index to new highs for the second consecutive session yesterday,
      Source: Bloomberg  -  553 words
    • 1036 10 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on May 3 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy Shares Per Before After Stock Date Director Sell 000 Shr S COOP) ('000) Comatlnd 3-May-06 Lai Wei-Ying Sell ***** na ***** 22.99 ***** 14.02 Serial Sys 2-May-06 Goh Bak
      1,036 words
    • Article, Illustration
      958 10  -  Compiled by MATTHEW PHAN City Developments May 3 close: 5510.50 KIM ENG RESEARCH, May 3 Modest earnings growth, distorted by one-off items: IQO6 net profit of 5541.2 million was up a modest 2.4 per cent year-on-year on a 5 per cent improvement in revenue to *****.4 million, due
      Source: Bloomberg  -  958 words
    • 536 10  -  CURRENCIES LARRY WEE Senior Correspondent AS THE US dollar continued to explore yet more fresh multi-year lows yesterday, analysts have started to suggest that we could well be witnessing the start of another secular decline for the embattled American currency. On the Asian
      Source: Reuters  -  536 words

  • STOCK FOCUS
    • 1322 11  -  The home-grown furniture maker recently reported record profits and has an exemplary annual report, says R SIVANITHY R SIVANITHY Hil JfJJI ANY proponents of good disclosure m Mm an( corporate governance believe Mlf that firms which are transparent I m B and honest in their
      FILE PHOTO  -  1,322 words
  • Page 11 Advertisements
    • 114 11 N power play with a high-pressure turbocharged 220 bhp engine zipping from 0 to 100 km/h in 7.3 seconds a greater peace 53e>18 ifcajj^ii, Hp <v WBKKHKW '^HBHHHHHHHB^HHHHHHHii^HHHHHIi^HH^^HHHHI^^HBHHHHHHHIi IQO6 VOLVOS6 2.4T FOR A DEAL THAT HAPPENS ONCE EVERY 100 YEARS. FROM $114,999* ONLY. /^f f BECAUSE WE'RE CELEBRATING THE WEARNES
      114 words

  • SINGAPORE NEWS
    • 402 12  -  Collective sale price said to be about $73m or about $660 psf ppr By KALPANA RASHIWALA WING Tai is said to have clinched the freehold Newton Meadows through a collective sale for about $73 million or around $660 per square foot of potential gross
      402 words
    • 60 12 THE organisers of an event in the Events Listing in BT on May 1 have made a change to their venue. The tutorial, Introduction to Digital SLR for Compact Camera Users Wanting to Know About Digital SLRs, will now be held at Suntec City Convention Hall, Level
      60 words
    • SINGAPORE ROUNDUP
      • 101 12 ROCKEBY Biomed has signed an agreement with Hong Kong's Anigen Diagnostics for the distribution of VetScreen, a test kit for the confirmation of the avian flu virus in human beings and poultry. Costing US$7 50 each, the kits are used in clinical laboratories,
        101 words
      • 60 12 THE Japan National Tourist Organisation will open a Singapore office today as part of its concerted efforts to help promote tourism cooperation between the two countries, the Embassy of Japan said. As part of the efforts, Japan's Minister of Land, Infrastructure and Transport Kazuo
        60 words
    • 327 12  -  They will jointly offer advice to local firms going global By MICHELLE QUAH GLOBAL accounting firm RSM International is to link up with International Enterprise (IE) Singapore so that they can jointly provide business advice to Singapore companies going global. The private-public
      327 words
    • 250 12 ESSEC, one of the French education system's grandes ecoles. will stamp its presence in the region with the inauguration of its business school in Singapore on May 13. Christian Koenig, director of the Essec Asian Centre in Singapore, said the move gives Essec
      250 words
  • Page 12 Advertisements
    • 197 12 SMART V yu, ...asWL—oarw, *vCv Managing Director Walton International Grcup "6 A d3> Ov Krogw .Vtefcv-s-a MLW I I and Banking: Guidelines for Investment Offer 4 V 1030-11:00.7 May 2006 lIA/ Opportunities Jim Corum 6ao*> Vice RmUmt vJVV IVIC* i 2 ;oo-12:30. 6 May 2006 11 15-11 45. 7 May
      197 words

  • SINGAPORE INTERNATIONAL
    • 1025 13  -  The retail market presents many opportunities for S'pore firms, CHEN HUIFEN reports CHEN HUIFEN BEN THANH market in Ho Chi Minh City may not have air-condi-tioning, but even swanky shopping malls would be envious of the crowds it attracts daily. Bustling
      1,025 words
    • 305 13 VIETNAM may be a developing nation, but that doesn't mean there's no place for fine dining, as Crystal Jade has discovered. One of the first foreign restaurants to have entered the market there back in 2001, the Singapore-based chain operates a
      FILE PHOTO  -  305 words
    • 469 13 THE traffic in Ho Chi Minh City and Hanoi is daunting to most visitors, but Daniel Tay, founder and director of Singapore-based patisserie chain Bakerzin, has found a way to tackle the motorbike-filled roads. "Just walk slowly and every vehicle will
      469 words
  • Page 13 Advertisements
    • 167 13 Wondering how your business can benefit from Singapore's extensive network of Free Trade Agreements (FTAs)? International Enterprise (IE) Singapore is the lead agency tasked to awareness and utilisation of Singapore's FTAs. To assist Free Trade Agreement (FTA) Certificate 15 -17 May 2006, 9:00 am 6:00 pm daily 551,200 A Hotel
      167 words
    • 7 13 enterprise the business times SINGAPORE Singapore <■$!»< iwiiVi
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  • ECONOMY WATCH
    • 259 14 Reuters [GENEVA] Leading trade powers said on Tuesday a global free trade deal could still be struck, despite another missed deadline, but that it would take strong political resolve. US trade chief Rob Portman, Australian Trade Minister Mark Vaile and Brazil's Foreign
      Reuters  -  259 words
    • 551 14 Agenda includes protectionism, integration, high oil prices, bird flu Reuters [HYDERABAD] The Asian Development Bank (ADB) opened its annual meeting yesterday to set the course for strengthening the region's economies while trying to serve the often diverging interests of its 65 members.
      Reuters; BLOOMBERG  -  551 words
    • 466 14 Quarter-point rise aimed at heading off inflation AP [SYDNRY] Australia's central bank said yesterday it lifted a key interest rate by a quarter point to 5.75 per cent, the first increase in 14 months, to head off inflation. The move boosted
      AP  -  466 words
    • 207 14 Bloomberg [HONG KONG] Chinas appreciating currency has drawn more overseas real estate investment to the country and changed the kinds of acquisitions foreign buyers are interested in, according to property agency CB Richard Ellis Group Inc. Overseas investors bought at least US$5OO
      Bloomberg  -  207 words
  • Page 14 Advertisements
    • 185 14 Club Card r<,Wj>«c64i6o9Bo A World of Exclusive Privileges Treats Diners Club wwuLJmers.com.sg International- Wk* <*«**• V; > > >1 our> n n ta^e y° u houses, come to you right here at the club's Captain's Table. Feast on an ala carte buffet of dishes from that region. This promotion is
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  • MALAYSIA/INDONESIA
    • 753 15  -  Unless labour law is revised, investors will go elsewhere: firms, economists By SHOEB KAGDA in Jakarta TENS of thousands of protesting Indonesian workers clashed with police in front of parliament yesterday, demanding that a proposed review of the Labour Law be rejected. The
      AP  -  753 words
    • 510 15  -  Govt to review RM1.5b incinerator in Selangor By S JAYASANKARAN in Kuala Lumpur THE construction of the region's biggest waste incinerator, to be located in the rural hamlet of Broga in central Selangor state, has run into some hiccups. According to several businessmen
      510 words
  • Page 15 Advertisements
    • 56 15 Since 1856, we have focused on bringing new perspectives to our clients. Understanding the past, but shaped by -the future. Always looking at opportunities and challenges from a different point of view. Because we know what it takes to successfully maintain wealth. And to turn passionate work into great results.
      56 words

  • GREATER CHINA
    • BRIEFLY ASIA
      • 64 16 AP [KUALA LUMPUR] Malaysia's water supply and services are set to undergo major reforms under two proposed laws but the government said foreigners will not be given control of the industry, The Star reported yesterday. Under the proposed laws, control of all water
        AP  -  64 words
      • 38 16 Reuters [KUALA LUMPUR] Shareholders in Killinghall (Malaysia) Bhd voted yesterday to accept an all-cash offer for its 16.4 per cent stake in Southern Bank Bhd from bidder Bumiputra-Commerce Holdings Bhd (BCB).
        Reuters  -  38 words
      • 47 16 Bloomberg [NEW DELHI] The Tata Group, India's biggest business group by market value, said a proposal to invest US$3 billion in Bangladesh was "well received" by Dhaka. The government may take a month to decide on the proposal, the group said.
        Bloomberg  -  47 words
      • 31 16 Reuters [KUALA LUMPUR] Malaysia's biggest highway operator, PLUS, is exploring road projects in India and Indonesia, deputy chairman Ahmad Pardas Senin said yesterday. Reuters
        Reuters  -  31 words
      • 42 16 Bloomberg [KUALA LUMPUR] Malaysia will review the tax structure and legislation for its Labuan offshore financial centre to make the island more attractive to businesses, Central Bank Governor Zeti Akhtar Aziz said on Tuesday.
        Bloomberg  -  42 words
      • 64 16 Bloomberg [HONG KONGI Sun Hung Kai&Co, one of Hong Kong's largest local brokerages, said it may buy control of moneylender United Asia Finance Ltd from Allied Group Ltd, its ultimate parent company. Allied Group, which also develops real estate, and Sun Hung Kai
        Bloomberg  -  64 words
      • 106 16 Bloomberg [HONG KONG] Henderson Group pic, a UK fund manager, will offer investors about HK$4OO million (SsBl million) to settle claims made against its Hong Kong unit, the city's Securities and Futures Commission said. The regulator investigated claims made by investors in three hedge funds
        Bloomberg  -  106 words
    • 184 16 AFP [BEIJING] China's banking debt problem is far higher than official estimates indicate, with non-performing loans (NPLs) worth as much as US$9OO billion, the Financial Times reported yesterday. Citing an Ernst and Young survey, the London-based newspaper said the NPLs for China's big four
      AFP  -  184 words
    • 479 16 IPO being marketed at 2-2.4 times forecast year-end book value: sources [HONG KONGI Investors waiting for the chance next month to buy a piece of the Bank of China (BOC), in which Singapore investment company Temasek Holdings has a stake, will have
      AFP  -  479 words
    • 268 16 Bloomberg [HONG KONG] Bank of China, in which Singapore investment company Temasek Holdings has a stake, may post a 4.3 billion yuan (SsB4s million) exchangerate loss this year because of a rising yuan, according to ÜBS AG, one of
      Bloomberg  -  268 words
  • Page 16 Advertisements
    • 216 16 HHH j£2"' r3 jgEgL '|EK /s» m* V 41$, s Zf «r»- IfefeX -..Xij^iffl^tfa V I I. g jgg| MopMß| pppHHR Si F ll V W7 ywf Y^\T r "/T I i f IBk.\\ ide Tiii IF# fi 1 1 ■TVV 3HH /wM iwflMßiixiwaawnwi /t) M~~ f< f W A
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  • INDIA
    • 516 17  -  Tata, Satyam, Infosys set up more ventures, step up recruitment By SIDDHARTH SRIVASTAVA in Delhi MORE and more Indian information technology business is being driven to China. All the top Indian software companies have either already made the move or are planning to. Tata
      516 words
    • 268 17 Asian markets firm after US stocks close at 6-year high Reuters AFP [MUMBAI] Indian shares climbed to a new high yesterday, triggering profittaking but firm Asian markets and robust fund inflows appeared to limit the downside, traders said. Asian markets, led by Seoul
      Reuters; AFP  -  268 words
    • 242 17 Bloomberg [NEW DELHI] India's Bharat Sanchar Nigam Ltd, which is purchasing mobile phone equipment worth about US$5 billion, said it will not buy the lowest-cost equipment and instead, will get gear that will help give it an edge over rival phoiue companies. "It's
      Bloomberg  -  242 words
    • 251 17 Bloomberg IMUMBAI] Indian banks will start implementing global banking norms starting March 31 next year, Reserve Bank of India (RBI) governor Yaga Venugopal Reddy said yesterday. "Currently, all commercial banks in India are expected to start implementing Basel II with effect from
      Bloomberg  -  251 words
  • Page 17 Advertisements
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  • ASIA-PACIFIC/WORLD
    • 368 18 LATEST US DATA Oil dips to US$73 a barrel on US report while Iran issue remains worrying Reuters [LONDON] Oil dropped towards US$73 a barrel yesterday after a US government report showed a surprise increase in gasoline inventories, easing worries about a
      Reuters  -  368 words
    • 752 18  - Hyderabad Boom and poverty ASIA INSIGHT Widening income gap highlights limits of market-driven model of devt ANTHONY ROWLEY Tokyo Correspondent IN HYDERABAD, the capital of Andra Pradesh state, where the Asian Development Bank is holding its artnual meeting this year, "New India" coexists rather uneasily with the old in a
      752 words
    • 5647 18 UNIT TRUSTS FUNDS ACMGI Amer income 8 USD 8.53/ ACMGI Amer Income A EUR ACMGI Amef Income B EUR 6.77/ MN Amro Asset Mgt (S pore) ACMGI Europ Income Opp AT SGO 15.04/ Star Eimpe Eqty! 0.957 ACMGI Europ Income OppBTSGD 15.04/ Star Europe Bald .157 ACMGI Europ Income Opp
      5,647 words
  • Page 18 Advertisements

  • WORLD
    • 471 19 Speculation comes as group looks to trim fat amid weak share price Reuters ILONDON] Could Vodafone Group pic, architect of the biggest takeover in history, itself become a target? The suggestion would have been laughable only a few months ago, but not any more.
      Reuters; REUTERS  -  471 words
    • 276 19 [LONDON] Eurotunnel's shrinking army of British investors will have to trade their shares in Paris following a decision by the Financial Services Authority to delist the company in London for failing to produce any annual accounts, said a report in The Guardian. The FSA on
      276 words
    • 2420 19 VOl Gamuda .4.02 -0.06 762 M»y3 M* *h fWH Genera! Corp 0.68 0.01 283 Genting 24.70 0.20 492 ASM Realty 1.36 unch 6 GeorgeKent .0.60 0 03 111 Ab t 036 001 35 GHL Systems .0.27 -0.01 ***** ACP Industries 1.08 -0.01 138 Globetronca Tech 0.35 -0.01 1223
      2,420 words
    • 189 19 Bloomberg [LONDON] Euronext NV, operator of the Paris and Amsterdam stock exchanges, said it's no longer in merger talks with London Stock Exchange Pic. The decision follows Nasdaq Stock Market Inc's purchase of a 15 per cent stake last month in LSE, Europe's
      Bloomberg  -  189 words
    • 396 19 NYT Reuters Bloomberg [NEW YORK] Warner Music Group Corp the world's third-largest music company has rejected a U5528.50-a-share takeover approach from rival EMI Group that valued the world's fourth largest music company at US$4.2 billion. Warner Music received a "preliminary non-binding proposal from
      NYT; Reuters; Bloomberg  -  396 words
  • Page 19 Advertisements

  • AVIATION
    • 632 20  -  CAAS honours for the first time, Singapore's top 10 airline customers By VEN SREENIVASAN [SINGAPORE] Changi Airport will continue to improve its products and services while keeping costs reasonable, Transport Minister Yeo Cheow Tong said yesterday at a ceremony honouring for
      FILE PHOTO  -  632 words
    • 390 20 Bloomberg [TAIPEI] EVA Airways Corp, Taiwan's secondlargest air carrier, had a 58 per cent decline in firstquarter profit on the back of record fuel prices. Net income fell to NT$226 million (5511.2 million), or NT$O.O6, for the three months to March, compared with NT$536
      Bloomberg  -  390 words
    • 224 20 AFP [SOCHI, Russia] An Armenian passenger jet crashed into the Black Sea off Russia early yesterday as it tried to land in bad weather at a nearby airport, killing all 113 people on board, officials said. Debris floated in the
      AFP  -  224 words
    • 232 20 Reuters [LONDON] UK budget airline easy Jet said yesterday that prospects were improving, helped by cost cuts and sales of in-flight drinks and online insurance, despite a hefty fuel bill and a wider first-half loss. easy Jet, Europe's second-largest budget carrier after Ryanair,
      Reuters  -  232 words
    • 281 20 It plans £9.5b investment in London airports Reuters [LONDON/MADRID] UK airports operator BAA said Ferrovial's takeover bid would need to be a lot higher before it agreed to open its books. In a statement yesterday, Ferrovial repeated comments from its March 17 approach
      Reuters  -  281 words
    • 134 20 Bloomberg [LONDON] Copenhagen Airports said first-quarter profit rose 33 per cent as passengers spent more in shops and on parking at the Danish capital's main air terminals. Net income climbed to 160 million kroner (Ss43 million), from 120 million kroner a year
      Bloomberg  -  134 words
    • 2214 20 OTT FUHT n* HJ«n HP S0143 1S35 SQ146 1640 GA840 1640 GAS41 1755 SQ<» 11?? ?Q4K 1?9P 5-r- gl<7 «3>—W* iW AdataMa LH9771 1750 AF8088 2215 Dhak SQi2I_0550 $Q4j6 2030 5Q230 1750 BA7382 2215 !*>•»_ 0*638 1345 QR639 0745 AF8087 1850 QF82 2215 Dabai NZ4355 0735
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  • Page 20 Miscellaneous
    • 197 20 CRYPTIC CROSSWORD DOWN 1 Tory leader's babble and La- Officer s soft heart, say (7) YESTERDAY'S SOLUTION bour leader's ramble (6) Train undercover agent (7) Across: 1 Slot machine, 9 Moon--2 Singer's no soul for the audi- 17 Works of poets are fantastic shine, 10 Raise, 11 Agency, 12 Seaence
      197 words

  • SHIPPING
    • 687 21 Bloomberg [SEOUL] Hyundai Heavy Industries Co, the world's biggest shipbuilder, said its purchase of a US$527 million stake in Hyundai Merchant Marine Co is not a hostile takeover. Merchant's stock surged in the past days. Merchant and its affiliates on Tuesday
      Bloomberg  -  687 words
    • 282 21 SGX '000 May 3 SS Vol CH Offshore 0.38 -0.01 1124 ChuanHup 0.33 -0.01 2665 Cosco Corporation 1.45 0.03 ***** CWT Distribution 1.31 0.06 319 Ezra Hldgs 2.64 -0.02 420 Freight Links 0.08 unch 1534 Grand Banks Yacht 0.86 unch 3 Jaya Holdings 1.38 -0.02 4061 K1 Venture
      282 words
    • 158 21 Reuters [OTTAWA] Canada is investigating whether the luxury cruise liner Queen Elizabeth 2 illegally dumped garbage in Canadian waters and could prosecute if there is sufficient evidence, officials said on Tuesday. The federal Transport Ministry started an investigation after the ship reported last September
      Reuters  -  158 words
    • 513 21  -  Indon waters outside Strait is the world's most piracy-prone By DONALD URQUHART [SINGAPORE] The Malacca Strait remained piracy-free in the first quarter this year despite an 8.9 per cent rise in global attacks, with Indonesian waters outside the Strait
      Source: IMB  -  513 words
    • 417 21 Reuters [LOS ANGELES] The California ports of Los Angeles and Long Beach will continue to boom in 2006, with the number of containers passing through the busiest combined US seaport expected to increase 10 per cent, according to a report. But
      Reuters; REUTERS  -  417 words
    • 258 21 Bloomberg [LONDON] Shipowners will need to spend US$7.5 billion on new oil tankers to replace vessels that will be banned from service by the United Nations from 2010, EA Gibson Shipbrokers Ltd said. The UN's shipping arm, the International Maritime
      Bloomberg  -  258 words
    • 246 21 AFP [NAIROBI] A group of alleged Somali pirates captured by the US Navy in March have been freed and returned home to Somalia after the United States declined to prosecute them, a US official said on Tuesday. Ten of 12 suspected
      AFP  -  246 words
  • Page 21 Advertisements
    • 678 21 :*AT3 NOTICES JUVE (ASIA) PTE LTD (Iti Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE is hereby given pursuant to Section 308 of the Companies Act Cap 50 that a Final Meeting of the Members of the Company will be held at 10 Jalan Besar#l7-01 Sim Lam Tower Singapore *****7,
      678 words

  • EDITORIAL & OPINION
    • 527 22 EDITORIAL I AST week, Malaysia's central bank raised its overnight policy rate by another 25 basis points to 3.5 per cent. It was the third increase since November last year. Clearly, Bank Negara was motivated by rising inflation which surged 4.8 per cent in March due
      527 words
    • 770 22  -  THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group THE US has the energy policy it deserves, although not the one it needs. Having been told for years that their addiction to cheap petrol was on a collision course with increasingly
      The Washington Post Writers Group  -  770 words
    • 787 23  -  Quality growth that is inclusive, creates jobs and raises incomes is not easy to achieve By HARUHIKO KURODA IHT RAPID economic development in recent decades has pulled Asia from the periphery to the centre of the global economy. In the process, hundreds
      IHT; REUTERS  -  787 words
    • 988 23  -  By DANIEL ALTMAN IHT THE World Trade Organization (WTO) is one of just a few international groups that can actually set rules for globalisation. It provides a rare opportunity for poor countries to negotiate directly and theoretically as equals with wealthy trading and investing
      IHT; AFP  -  988 words
    • 473 23  -  By THOMAS L FRIEDMAN NYT WHAT would Opec do if it wanted to keep America addicted to oil? That's easy. Opec would urge the US Congress to deal with the current spike in gasoline prices either by adopting the Republican proposal to
      NYT  -  473 words
    • 1519 22  -  He was the first economist to make economics seem relevant to the real world VIKRAM KHANNA Associate Editor ■j OHN Kenneth Galbraith, doyen of the American left, one of the most insightful, certainly most engaging, economists of his time, man of letters, art collector, former
      AFP FILE PHOTO  -  1,519 words

  • Page 23 Advertisements
    • 130 23 WETAX7 Our qualified professionals J can assist you with offshore iuAiiar;^ structures, shelf companies MK/ and incorporations in ALL w9£^Hkj jurisdictions including: BritishWrgin Islands > Cayman Islands Bahamas Mauritius Hongkong Samoa Full nominee, management, secretarial, banking and corporate administration services are available. We also specialize in offshore trusts for assets
      130 words

  • 11273 24 SGX MAINBOARD Transaction date: May 3 52 WV Tel Last Vol Day Last Quote GrDiv Div GrYld Met MCap High Low Code Company Sale +<- COOP) High Low »uyef Seller Cvr S tH Smil 5 1 5716 1st Software 5c.... 3 unch 50 3 3 2.5 3 12.1
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  • 6419 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES lit local Clirr In i% In USS <Hdy *yr %dy yr 6y %v May 1 ind«» Change Change Change Change Change Change *o.W Index PnMiminaiy 1035.5 &5 ftB 44 M I im PreHmmag ***** tt* U 8,9 IB fef 1S5 Europe P'tlMWl M8M
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  • Page 26 Advertisements
    • 1284 26 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination NASSAU PARADISE RDM/ATW/BMN/TLB/NAN TIAN SHAN HAI CAM/NFK/SAV/NOL STAR SEA RAINBOW RDM/ATW/BMN/UK/NAN Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE F.EJS.E.A. SERVICE Destination PIRAN DBI/ABU/DOH/BRN/DMM/KWT Destination ASEAN EXPRESS DBI/ABU/DOH/BRN/DMM/KWT QUOC TU GIAM INC/BSN APOSTOLOSII HDD/JDH/AQA t Loads Singapore, E./W. Malaysia, Indonesia
      1,284 words
    • 478 26 vtf/v WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobal.com YISSB VOY RAMP HBOffl MM IJC MAO SAY »Al OKF TAMERLANE Af6l4 320T0«i 6.4 M 07/05 31/05 09/06 13/06 1 7/06 IS/06 TAMO Af6ls 420T0m 6.4 M 17/05 10/06 19/06 23/06 2S/06 26/06 lAIAIOT AF6I6 4001 ms 6JM 30/05 21/06 30/06 04/07 09/07 07/07
      478 words

  • Page 27 Advertisements
    • 1191 27 WAN HAI INTERNATIONAL PIE LTD aMO 14M*****00/K V\M\WAN HAI LINES YL 3—X fclllfct# PH. 1H: (03) 3344tttt FAX: (03) *****2 M FBI IB: (04) *****00 MX: (04)*****99 I JOH TH: (97) *****21 FAX: (07)25ia»21 9* TB: (031) *****7S FAX: (03)) 32*2714/ *****05 1 www.wanhoi.com.sg JCT TH: (021) ***** M FAX:
      1,191 words
    • 203 27 P. T. DJAKARTA LLOYD (PERSERO) If© AUSTRALIA FULL CONTAINER SERVICE As Agents Starship Agencies (MAL) Pte Lid Operator Code: DJI CR NO. **********0H VSI. IVOT I SIN IweIHI I m I STP Ima I adT" MtHMUS 032S 07/0} 04/05 19/05 21/05 21/05 it/05 mtSWff 0255 14/05 U/05 27/ OS 21/05
      203 words
    • 2032 27 VESSEL VOY SIN Jiff MIP PUS VESSEL VOY fIN JKT SUB HKG USN PUS HANJIN SEOUL 0302! S/5 7/5 13/5 17/5 KMTCPUSAN 606S ~7/T 10/5 11/5 16/5 20/5 21/5 HANJIN KWAHGYAHG 0273E 12/5 14/5 ~20/5 24/5 KMTCSINGAPORE m~ 14/5 "17/5 U/T 23/5 27/5 28/5 VESSEL VOY SIN NSA JEA VESSEL
      2,032 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 5298 28 This ETA ETA AdvartiMr VmhI Voyage Telephone ETA ETA Vesiel Voyage Telephone SIN Otsfn Nam* Nam* Number Number SIN taf* Nana Nam* Number Number 11/06 19/06 PTDjakarta ANL ESPRIT 026S *****203 To ABIDJAN (ABJ) 2003 Cote D'lvoire 11/05 14/06 China Shpg NEWDYNAMIC 112A *****898
      5,298 words
  • Page 28 Advertisements
    • 260 28 vtsstl VOY m, m iIM 01 PACIANDA 1721N *****02/05 PAtlAll 4216 01/05 04/05 w==ssF==fi==il= mar =g?==gl==il= \milHU 17HM 65/05 65/65 iWKHHTAH W5O 13/65 H/05 "®n HSTS3 ***** 5575? PACUNGKA m ***** ***** i"i i" w [™..J...jjj... A it&T? 6?/65 w*ml mm mB EHi m a 5 51 1 Imv mm
      260 words
    • 271 28 VESSEL VOY PKL SIN KARACHI DXB BAB NHS DMM BIK KHOR IRAN SHAHRYAR PCL 8134 04/05 OS/OS 14/05 17/ OS 18/05 24/05 27/05 30/05 IRAN BAABAEI PCL 8136 12/05 13/05 22/05 25/05 26/05 01/06 04/06 07/06 IRAN KORPESTAN PCI 8137 20/05 21/05 30/05 02/061 03/06 09/06 12/06 15/06 I VESSEL
      271 words
    • 106 28 BSA i. MYANMA nHm FIVE STAR LINE (Myanmar National Line) Loading for Yangon VESSEL VOY SIN PKI PEN PGU CHIN SHWI HAW 90W SID PAGAN 349W SU> IN MALAYSIA: IOUSTEAD SHIPPING AGENCIES KUL/PKL 03-*****388 PEN: 04-2633*15 accepting conventional cgo Vtssa VOY HKG SM PKI QtYSTAL HEART 38 SID 02/05 03/05
      106 words

  • PROPERTY
    • 806 29  -  Project on Beverly Mai site to be pitched as most exclusive in S'pore By KALPANA RASHIWALA CHRISTOPHER Lim, group executive director of Hotel Properties Ltd (HPL), says a new condo on the Beverly Mai site which the group bought last week is
      806 words
    • 409 29 Bloomberg [KUALA LUMPUR] Singapore hotel tycoon Ong Beng Seng and the Sultan of Selangor are waiting for Malaysia's approval to build a US$265 million Four Seasons hotel and apartment in Kuala Lumpur, almost eight months after they submitted the plan. Venus
      Bloomberg; FILE PHOTO  -  409 words
    • 331 29 Reuters [MELBOURNE] Australian listed property trusts are likely to start raising capital by using hybrid instruments as they look to improve their return on equity, Moody's analysts said yesterday. The trend towards using hybrid instruments which combine elements of debt and equity is
      Reuters  -  331 words
    • 242 30 Value of residential, office and industrial units sold rose to HK$48.5b Bloomberg [HONG KONG] Hong Kong's property sales, mainly of apartments, surged 91.3 per cent in value in April from the previous month, according to the Land Registry. The number of transactions
      Bloomberg; BLOOMBERG  -  242 words
    • 1719 30 PROPERTY TRANSACTIONS BFTWFFN APR 25 AND MAY 3.2006 PROJECT NAME/ PROP CONTRACT TENURE BUHT-IN/LAND PRICE PSf STREET NAME TYPE DATE AREA*(SQ FT) (SS'OOO) (St) District 01 NON-LANDED Emerald Gdn Apt 13/04/2006 999 829 820 989 Pearls Cte Apt 11/04/2006 99 753 270 358 The Sail At Marina Bay Apt
      1,719 words
  • Page 29 Advertisements
    • 119 29 PERFECT SITE FOR REDEVELOPMENT INTO EXCLUSIVE LUXURIOUS CONDOMINIUMS LUCKY TOWER "T 57 GRANGE ROAD Royal /q>/ Plaza Freehold Singapore 3^5 7 shaw s c°X q Large regular site 169,188 sq ft St. Regis ;>\House AO/ t Close proximity to Orchard Rd Shopping Belt y Plot ratio 2.1 Seasons Hotel Build
      119 words
    • 45 29 saviiis PRIME OFFICE UNITS Suntec Tower office from 12,000 sq. ft., High Floor, Panoramic View Connected Offices@Central units from 883 to 12,000 sq. ft. Other Prime CBD Offices Shophouse units Edmund Lee Tel: 9843 3965 Lennon Koh Tel: 9748 7400 Elf Seah Tel: 9693 4126
      45 words
    • 69 29 lEE Debenham 5 100 Beach Road IHtie Leung #3500 show Tower H ff Singapore *****2 ENBLOC SALE BY CLOSE TENDER TAN QUEE LAN STREET 31 MAY 2006, 3PM 3 units of 3or 2'/2 storey shophouses Within Conservation Area. Plot Ratio: 4.2 Zoned: Residential/Commercial Potential for extension at rear up to
      69 words
    • 239 29 Prominent Rare Freehold 4 Storey Building 451 Joo Chiat Road For Sale P 1 Land Area: 0 16,000 sqft (approx.) Gross Floor Area: 47,000 sqft (approx.) w <y\\, I Excellent Road Visibility 1 < Convenient Accessibility to Public Transport vißßim PayaLebarMßT Proximity to Amenities of Convenient Car Parking Facilities For
      239 words

  • Page 30 Advertisements
    • 203 30 FAR EAST MANSION EXPRESSIONS OF INTEREST <**£«*« Prime freehold residential orchard rd redevelopment site H9 Z£ nn Approximately 136,194 sq ft "Devonshire rd Plot Ratio 2.8, up to 36/ storey Excellent unobstructed views Near annen l ies re P u t a ble school g/k ±e\ H Easy access to
      203 words
    • 20 30 Inviting tenders? Call 1800 289 8822 or email notices@sph.com.sg to book your tender notice in our newspapers now. [•jATS^L NOTICES
      20 words

  • BizIT
    • 850 31  -  IDC expects finance sector to be the most active, accounting for nearly 50% of the market, writes AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY THE business process outs o u r c i n g (BPO) market in Singapore will witness moderate growth this year, with
      Source: IDC  -  850 words
    • 650 31  -  It plans more 'superstores' and eyes online market By WINSTON CHAI IN the cutthroat consumer IT market where sales margins are often razor-thin and price slashing appears to be the order of the day, Challenger Technologies plans to go against the grain with a
      650 words
    • 393 31 Bloomberg [LONDON] Apple Computer Inc, maker of the iPod digital music player, has renewed contracts with the four largest record companies to continue offering songs at 99 US cents each through the iTunes music store. EMI Group pic, Sony BMG Music Entertainment, Vivendi SA's Universal
      Bloomberg  -  393 words
    • 195 31 AP [SEATTLE] An influential analyst firm is predicting that the next version of Microsoft Corp's Windows operating system will come out even later than Microsoft has already forecast. Researchers at Gartner Inc said in a report on Tuesday that they believe Windows Vista will
      AP  -  195 words
    • 583 31 Bloomberg [TAIPEI] Acer Inc, the world's fourth-biggest personal-computer maker, plans to sell flat-screen televisions worldwide within nine months as global PC growth slows. The company started making liquid-crystal display TVs last year for Europe, its biggest market. Taipei-based Acer got 59 per
      Bloomberg  -  583 words
  • Page 31 Advertisements

  • Page 32 Advertisements
    • 1474 32 ADVERTORIAL ~-r%. 'I.; •.v'.u 0 Structured Cabling: Keeping the World Connected and wireless telephones. In rooms and suites, there are up to seven hardwired connections for phones, laptop PCs and peripherals. IP phones in all the rooms have color touch screens that display multimedia applications and some suites also have
      1,474 words