The Business Times, 26 May 2006
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2006-05-26
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The Business Times
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Title Section17 2006-05-26 1 THE BUSINESS TIMES Singapore 85 cents online at http://business-times.asia 1 .com.sg mica (P) 099/03/2006 Friday, May 26,200617 words
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760 2006-05-26 1 GENEVIEVE CUA - Most other types of unit trusts record net outflows By GENEVIEVE CUA (SINGAPORE) Investments in equity unit trusts surged in the first quarter of this year, with net inflows of more than $1 billion the highest since market intelligence760 words
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734 2006-05-26 1 TEH HOOI LING - Contributing to the souring of sentiment is NYSE's unspectacular bid for Euronext By TEH HOOI LING [SINGAPORE] Exchange operators worldwide have lost more than Ss22 billion or 17 per cent of their market value in the past two weeks as sentiment for734 words
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Page 1 Advertisements
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Advertisement33 2006-05-26 1 ACCS COURT CASE Fbunder Victor Tail convicted of cheating Nokia T rml i^r "1 1 1 Museums 'R' Us Toy collectingis serious business in Singapore. We look at two such enterprises PG 2833 words
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Advertisement22 2006-05-26 1 x-men pr^ Just a special |j& effects showcase HHEHH pg 32 mßKmm 11l 1111 l 8"*****1 *****4 Marktts Dioest is held over22 words
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Advertisement22 2006-05-26 1 THE CFO INTERVIEW f&igk Ramlee Bin Buang of Cerebos < on the China challenge i J5* flO I| Jr Jj i' i m22 words
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TOP STORIES
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Article, Illustration846 2006-05-26 2 ANTHONY ROWLEY - MM Lee, Abdullah make call for Asian unity and economic progress By ANTHONY ROWLEY in Tokyo SINGAPORE'S Minister Mentor Lee Kuan Yew and Malaysian Prime Minister Abdullah Ahmad Badawi yesterday called upon Japan, China and South Korea to resolve their diplomatic tensionsREUTERS - 846 words
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Article, Illustration601 2006-05-26 2 JURENA CHAN, GRACE CHONG - By JURENA CHAN, GRACE CHONG [SINGAPORE] Industrial relations (IR) cases jumped 21 per cent last year despite the strong economic growth, the National Trades Union Congress (NTUC) revealed yesterday. "During the economic downturn, union members saw and directly benefited from the help NTUC601 words
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203 2006-05-26 2 AP [HOUSTON] Former Enron Corp chiefs Kenneth I.ay and Jeffrey Skilling were convicted yesterday of conspiracy to commit securities and wire fraud in a case born from one of the biggest business scandals in US history. The verdict put the blame for the demiseAP - 203 words
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Article571 2006-05-26 2 Keppel Shipyard pleads guilty over tanker fire KEPPEL Shipyard has pleaded guilty to a charge arising from a fire on board the oil tanker Almudaina at its Benoi yard in May 2004 that killed seven workers. Keppel was charged with failing to ensure that the No 3 starboard571 words
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344 2006-05-26 2 LATEST US DATA Reuters [WASHINGTON! The US economy shot forward at an upwardly revised 5.3 per cent annual rate in the first quarter, the fastest growth in 2-1/2 years, as companies built up inventories and exports strengthened, a Commerce DepartmentReuters - 344 words
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Article, Illustration346 2006-05-26 3 MIKE CHUA - The BT-Philips World Cup Fund By MIKE CHUA [SINGAPORE] Electronic auction giant eßay is rooting for World Cup minnows Trinidad Tobago (T&T). And the on-line colossus is not shy about it. In fact, eßay is proud of its World Cup affinity withYEN MENG JIIN - 346 words
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254 2006-05-26 3 WE are looking for 32 senior executives or professionals to sign up one for each of the 32 teams in the World Cup finals. Each executive will be assigned a team. When the team plays, the executive assigned to it will be featured254 words
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398 2006-05-26 3 DONALD URQUHART - It has also given $30,000 to each of the seven victims' families By DONALD URQUHART [SINGAPORE] Keppel Shipyard has pleaded guilty to a charge arising from a fire on board the oil tanker Almudaina at its Benoi yard in May 2004 that killed398 words
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Page 2 Advertisements
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Advertisement100 2006-05-26 2 OPTOMETRIST CONTACT LENS CLINIC f °P tometrlSt Edward J.Benjamin WF O.D;D.Opt.;F.A.A.O.;F.A.C.L.P. Philip D.lzaac Roland J.lzaac D.Optom.;B.Sc. Optom.(USA) M.Sc.in Clinical Optometry(USA) M Comprehensive optometric examination Hi-tech diagnostic equipments Warehouse Sales 2 Days only Up tO 75% Off (Sat to Sun 10am to spm) Twin Ball Putter from $39 r u ieon<-100 words
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Advertisement14 2006-05-26 2 people Black belts wanted. Www tnep".-.pleatvvork ~on< As.a P tr.fir F. x«*. nt<- Se.v14 words
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Advertisement42 2006-05-26 3 RARE SPECIES* W- J 4 HAND-CRAFTED IN SWITZERLAND MfE/ SWORDFISH \V:d«svea*'<ofcr e »tn. e ss' Cne>cec»:tn ,-.r rsgM star: and stop buttons www graham-london com GRAHAM LONDON s DESCO S Desrc S 1.-; > r e Pte Li:: Tei •f 5 t2*Z 037242 words
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COMPANY NEWS
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Article, Illustration546 2006-05-26 4 VONG WEI KONG - COURT HEARINGS Former general manager also convicted for his part in conspiracy By VONG WEI KONG THE founder and former chief executive of mobile phone service provider Accord Customer Care Solutions (ACCS), Victor Tan, was convicted yesterday of cheating Nokia through fake repair bills546 words
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359 2006-05-26 4 GRACE CHONG - She also denies being told to create false invoices By GRACE CHONG A PROSECUTION witness in the trial of Citiraya accounts clerk Joanna Aw denied yesterday that she authorised Aw to sign documents relating to a company called United Excess (UE).359 words
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226 2006-05-26 4 AMARA Holdings said yesterday that an internal audit has ascertained financial irregularities and mismanagement at its 63 per cent-owned Amara Hotel Saigon in Vietnam. "To the best available information, the sum involved may amount to U*****,000," Amara said. "Full provisions have been made and226 words
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631 2006-05-26 6 RSIVANITHY - HOCK LOCK SIEW By RSIVANITHY IT'S one of the perennial mysteries of the warrants world, the preference most traders seem to have for trading only call warrants to the exclusion of puts, even when the underlying market is plunging as is the case now with631 words
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448 2006-05-26 6 SIOW LI SEN - NEW ISSUES It would have been 3rd biggest IPO on the Thai bourse By SIOW LI SEN THAI Beverage's $1.8 billion initial public offer (IPO) would have been the third-largest ever by a Thai company if it had been listed in Bangkok, according448 words
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268 2006-05-26 6 It cites 'poor stock market conditions' as the reason Reuters SINGAPORE-BASED Pacific King Shipping Holding said yesterday it had postponed its plan to list shares in Singapore, blaming poor stock market conditions. The move came after a slide in global share prices, which promptedReuters - 268 words
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141 2006-05-26 6 Reuters [SYDNEY] Property manager MacarthurCook Fund Management Ltd said yesterday it hopes to raise about $100 million via a secondary listing of its Australian bourse-listed Property Securities Fund in Singapore. The listing was part of a growing focus on Asia and would allow the companyReuters - 141 words
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230 2006-05-26 7 VEN SREENIVASAN - By VEN SREENIVASAN AMID a cautious market, shares of Singapore Airlines plummeted to their lowest levels in almost six months yesterday over fears of a potential bird flu pandemic. The stock dropped as much as 60 cents or 4.7 per cent230 words
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Article, Illustration405 2006-05-26 7 JURENA CHAN - Company hopes to bring more cheers to its shareholders By JURENA CHAN MAN Wah Holdings, a Hong Kong-based manufacturer of leather sofas, has furnished a strong set of fullyear results and more cheers could be in store for shareholders. Listed on theYEN MENG JIIN - 405 words
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278 2006-05-26 7 CRAZY Horse Paris didn't turn out to be a galloping start for Eng Wah Organization in profit terms. The group yesterday announced an 82 per cent dive in net profit to $584,000 for the full year ended March 31, 2006, against $3.2 million278 words
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225 2006-05-26 7 DONALD URQUHART - It realised a net profit of $13.3m from the sale By DONALD URQUHART SEMBCORP Marine (SembMarine) has divested its entire 82 per cent equity stake in its joint-venture company Kristiansand Drilling Pte Ltd for US$97 million. Kristiansand is a singlepurpose joint-venture company formed by SembMarine subsidiary225 words
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COMPANY BRIEFS
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38 2006-05-26 7 CIRCUIT Plus Holdings has posted a $3.9 million net loss for the year ended March 2006, against a net profit of $202,000 previously. Revenue dropped 13 per cent to $8.96 million.38 words
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62 2006-05-26 7 CHINA Aviation Oil (Singapore) Corporation said it will conduct future aviation-oil tenders on a principal basis, instead of an agency basis through its subsidiary, China Aviation Oil Trading. It said the resumption is a key step to honour its commitment to recover and improve62 words
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68 2006-05-26 7 BH GLOBAL Marine Limited, a procurement specialist for the marine sector, said controlling shareholder, Beng Hui Electric Trading Pte Ltd, has sold 12.2 million shares at 27 cents each to a group of strategic investors led by Emirates Capital Pte Ltd. The68 words
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87 2006-05-26 7 [OSAKA] Matsushita Electric Works Ltd and Air Water Inc (AWI) have agreed to collaborate in the domestic bath business. Under the agreement, 80 per cent of the shares of Air Water Emoto, part of the Air Water group engaged in the domestic fittings and87 words
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Article67 2006-05-26 7 FISCHER Tech Ltd, a maker of precision engineering plastic components, yesterday reported it has posted a revenue growth of 15.3 per cent to $127.8 million, for the fmancial year ended March 31, 2006. Net profit was $8.1 million, down 9.3 per cent from a year67 words
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Page 4 Advertisements
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Advertisement166 2006-05-26 4 t s y*. f :tK ]fc f I < b.-if> V 4. V' the chuan £J* 'V |g «*'4 V, i 106 units. modern living family oasis. stylish interiors. sense of space. centrally connected. green tranquility, nostalgic charm This is the endearing charm of the chuan, a contemporary-styled condominium set166 words
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Advertisement97 2006-05-26 5 foresight property sector you a future more I v o**'L>- u, >v" \^£-f j*;s '£-.V '1 h; 1 II PES*; •->-* r I p M j 'p "fT%'v 1 "V Alf FRASERS CENTREPQINT CENTREPOINT CENTREPOINT lllililßMl PROPERTY MALLS HOMES ASSET MANAGEMENT I Frasers Centrepoint Malls Frasers Centrepoint Homes Frasers Centrepoint97 words
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Advertisement102 2006-05-26 6 r «Tirrr.T ■V I O S/WS "sphnews"to ***** I I I I You'll receive a cost-free SMS I message with WAP link to SPH I Mobile News I O C//cAc on WAP link to access I I Choose from: I 8,. i "Breaking News" @$5/mth I ■TN, \\\j "The Straits102 words
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Advertisement141 2006-05-26 6 f "v o f§W JffSl I n.r IV >t >t-....i<ifchii l »»i»rfUi wL'ifiifl^ €B€L THE ARCHITECTS OF TIME THE ARCHITECT SERIES Ebel proudly honors the legacy of Oscar Niemeyer and supports the yision of timeless architecture. Nlterdi Contemporary Art Museum, 1996. Niter6i, Brazil. NGEE ANN ClTtt Sincere Fine Watches, tel:141 words
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Advertisement31 2006-05-26 7 m JlHf i SwaP I J ailf h i,\..,Jiff S Audi Q7 Here to rule the roeds. ©H Premium Automobiles Showroom: 9 Leng Kee Road Singapore *****0 Tel: 6566 1111 *****2271W31 words
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SINGAPORE MARKETS
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Article, Illustration533 2006-05-26 8 R SIVANITHY - STOCKS Waves of margin calls and forced-selling among traders make for yet another volatile session R SIVANITHY Senior Correspondent IF YOU don't have nerves of steel or are unable to react quickly to rapid changes, you should not be in this market. Intraday traders whoSource: Bloomberg - 533 words
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Article, Illustration1004 2006-05-26 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on May 25 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Stock Date Director Sell 000 Shr C000) ('000) Magnecomp 24-May-06 Douglas Barnett *Buy 500 na ***** 13.04 ***** 13.25 Magnecomp 24-May-06 Thai Focused Eqty Fd1,004 words
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Article, Illustration937 2006-05-26 8 R SiVANITHY - Compiled by R SiVANITHY Cougar Logistics Corp May 25 dose; 26 cents OCBC INVESTMENT RESEARCH, May 25 COUGAR Logistics Corporation (CLC) has reported a 21 per cent y-o-y gain in FYO6 net profit to $3.6 million on the back of flat revenue of $44 million. The strong bottomlineSource: Bloomberg - 937 words
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Article, Illustration515 2006-05-26 8 LARRY WEE - Currencies LARRY WEE Senior Correspondent IT WAS the New Zealand dollar's turn to make a star turn in what was otherwise mixed trading in Asian currency markets yesterday, but the Australian dollar continued to underperform after an- other overnight slide inSource: Reuters - 515 words
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Advertisement111 2006-05-26 9 juM |i 1 1 I TV rtk br|H- si MPS TT 5 ii^B^^^^Ti*^^B BS TiTTiffMlffllM ttfc fe MI iy -n-. <t&{ |pl r 1 «>, ocuwirfPiMS TUp. i i m i«»«mt <iiiri^w^ «Oiwm' »=«•"iiqrfiii iw wt'jAf fla| flli .#&•.",sS%i^®^^Esa^*H^^H^^^H »uito»wo w*« vcufokos TO cw>f* nm^e e < -1 w*^l^* jg111 words
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THE CFO INTERVIEW
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Article, Illustration1157 2006-05-26 10 SIOW LISEN - Cerebos' CFO tells SIOW LISEN how tough it was to clear up his firm's China operations during the Asian crisis and how the country is once again a challenge SIOW LISEN IT'S AN interesting parallel. One of Ramlee Bin Buang's major task when he1,157 words
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Article179 2006-05-26 10 RAMLEE Bin Buang, 46, will recommend the accounting profession to anyone as he finds it fascinating. "It's not static," he said. When he first started working—it was with a local audit firm Goh, Tan and Co —there were only two Malays in its 100 plus team.179 words
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Page 10 Advertisements
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Advertisement25 2006-05-26 10 '''■■■^^■■■■BHHHBBBBBBBBHBBHBBB^^fiiI^itis^BHHfIfIHBBBfIBBBMIfifIi tl:i7 |HWg|lPF^ i: 1 I ■^H 1 J 1 if wßi^Mifci'T J^B l it f ''"i HHi ;> i-l_'..--<i*«^^^-: *HffP «**r ;> > ''~r JWBMMBKMIMBfe&ifcBLffiIsiBSSS/' ■mMSF BKr25 words
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SINGAPORE NEWS
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Article, Illustration369 2006-05-26 11 KALPANA RASHIWALA - HIGH-END PROPERTIES $410m asking price for prime freehold site works out to $1,218 psf ppr By KALPANA RASHIWALA JUST after news broke of City Developments emerging as the highest bidder for the 169,188 sq ft Lucky Tower in Grange Road, and with369 words
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431 2006-05-26 11 ARTHUR SIM - By ARTHUR SIM CITY Developments Ltd (CDL) has finally set the date for the launch of its luxury condominium St Regis Residences on June 1. But the market was rife with talk yesterday that a new record price of $3,000 per square431 words
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283 2006-05-26 11 LESLIE YEE - OUTSOURCING SERVICES By LESLIE YEE WITH more companies being set up here, corporate services provider Tricor Singapore is looking at dou-ble-digit growth in revenue and profit this year, up from 5-10 per cent in recent years, says chief executive Ho Lon283 words
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254 2006-05-26 11 CORPORATE services provider Les Concierges yesterday announced the opening of a Singapore office that will be its springboard for expansion in South-east Asia. Les Concierges, set up in 1998, provides a range of enterprise workforce and customer management services aimed at boosting productivity. These254 words
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SINGAPORE ROUNDUP
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83 2006-05-26 11 THE Monetary Authority of Singapore (MAS) has signed a memorandum of understanding (MOU) with The Bank of Thailand which regulates the country's banking sector. The agreement provides for banking supervisory cooperation between the two regulators in areas of information sharing and communication during83 words
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114 2006-05-26 11 SMRT has removed The Da Vinci Code floor sticker advertisements at Orchard MRT station following complaints from commuters. These advertisements feature The Last Supper with an image of Jesus Christ and his apostles, together with photos of the lead actors in the movie. As114 words
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267 2006-05-26 11 NOOR AISHA - By NOOR AISHA SINGAPORE'S position as one of Asia's leading providers of industrial and specialty gases was given another boost yesterday during the ground-break-ing ceremony of National Oxygen (NOX)'s third air separation plant. "The demand for industrial and specialty gases in Singapore has been267 words
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107 2006-05-26 11 MORE than $100 million of equity for the Singapore Flyer project has been snapped up in Germany, Channel News Asia reported yesterday. The shares were offered in two batches and investors bought them over two weekends. The main reason investors are keen on107 words
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Page 11 Advertisements
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Advertisement20 2006-05-26 11 Lanvin Brand of elegance where |Arvi u emotion and optimism kindle desire. Aufc lAN SINGAPORE www.isetan.com.sg Isetan Scotts 6733 111120 words
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ECONOMY WATCH
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Article, Illustration852 2006-05-26 12 It removes a major worry of rising currencies hurting exports in Asia Reuters [SINGAPORE] Strange as it may seem, a shake-out in emerging markets that has hit Asian stocks and currencies could be a blfessing in disguise for policy makers in South Korea,Reuters; AFP - 852 words
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516 2006-05-26 12 Bloomberg [SINGAPORE] Asia-Pacific companies will get a record US$2OO billion of loans this year as borrowing costs drop to levels before the region's financial crisis nine years ago. Asian companies outside of Japan will boost loans by 60 per cent from 2005, JohnBloomberg - 516 words
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498 2006-05-26 12 Only then will city consider linkage to Chinese currency Bloomberg [HONG KONG] China's yuan will need to be fully convertible before Hong Kong considers replacing a currency peg to the US dollar, the city's chief executive. Donald Tsang, said. Speculation thatBloomberg - 498 words
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Page 12 Advertisements
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Advertisement1779 2006-05-26 12 AVE MAE ENGINEERING LTD (Incorporated in the Republic of Singapore on 7 November 1974) (Company Registration Number: *****1961 C) NOTIC E IS HEREBY GIVEN that an EXTRAORDINARY GENERAL MEETING of MAE Engineering Ltd (the Company") will be held at 149 Rochor Road, #05-13/15 Fu Lu Shou Complex, Singapore *****5 on1,779 words
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MALAYSIA
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548 2006-05-26 13 S JAYASANKARAN - Firm has to tackle lopsided deals with independent power producers By S JAYASANKARAN in Kuala Lumpur AFTER nine years, Malaysian power company Tenaga Nasional has finally got the green light frojn the government to raise electricity tariffs by 12 per cent. This will548 words
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Article, Illustration345 2006-05-26 13 [SINGAPORE] Malaysia's 40 richest businessmen have a combined wealth of US$26 billion, and 82 per cent of that figure comes from the nine billionaires on the list, according to Forbes Asia's first Malaysia Rich List. The list places "Sugar King" Robert Kuok at the top.Source: - 345 words
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263 2006-05-26 13 Bloomberg [KUALA LUMPUR] Intel Corp the world's largest computer-chip maker opened a US$4O million design and development centre in Malaysia, tapping lower costs and increasing demand for computers in Asia. "This investment reflects a resounding vote of confidence from Intel onBloomberg - 263 words
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BRIEFLY ASIA
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62 2006-05-26 13 AP [HONG KONG] Chinas Lenovo Group yesterday said its net profit fell 85 per cent t0HK5173.24 million (5535.3 million) in the company's first fiscal year since it bought IBM's PC business. Lenovo also reported a fiscal fourth quarter net loss of HKS9O3 million comparedAP - 62 words
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61 2006-05-26 13 Reuters [NEW DELHI] Delllnc expects its proposed Indian plant to begin production by end-2006 and help the company win share in a booming market by cutting delivery time. "We would like to have this manufacturing facility up and running within this year,"Reuters - 61 words
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51 2006-05-26 13 [HONG KONG] Minority shareholders of PCCW have welcomed the attendance of chairman Richard Li at the annual general meeting, his first such appearance in four years, The Standard reported. He promised the shareholders to listen to them more as he sought to create higher shareholder51 words
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Page 13 Advertisements
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Advertisement237 2006-05-26 13 I ONE°ls># M AKIN A CIUI SINGAPORE AT StMTOSA COVi Now's the perfect time to indulge in an exclusive waterfront lifestyle. With Sentosa Cove set to become one of the world's most coveted address for leisure and living, there is no better time to ensure your membership in a glamourous237 words
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GREATER CHINA
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466 2006-05-26 14 Investment likely to be one of many to come in China, says Saudi prince Bloomberg [DUBAI] Saudi Prince Alwaleed bin Talal is seeking to buy US$2 billion of shares in Bank of China Ltd the first investment in a Chinese company by the world'sBloomberg - 466 words
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344 2006-05-26 14 Reuters [SHANGHAI! China unveiled its first initial public offering yesterday after lifting a year-long freeze, kicking off a string of IPOs that would see its top companies, now listed abroad, issue equity in their home market. The end of the ban willReuters - 344 words
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352 2006-05-26 14 Reuters [BEIJING] China's property market is not a bubble and does not pose serious risks to the banking sector, Fitch Ratings said yesterday. James McCormack, head of Asian sovereign ratings for the agency, said that, in contrast to many analysts, he felt the issue ofReuters - 352 words
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Page 14 Advertisements
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Advertisement633 2006-05-26 14 Diners Club Card «064i***** A World of Exclusive Privileges Treats Diners Club www.Jmers.com.sg International EXCLUSIVE WINE LABELS FROM: AimmAUAM FBENCH ITALIAN DomMqua Port* Barton A QuaaUar 90 L EMaan Hatxfys Caßianca Thomas Hardys ChatmuLaTourMmUMac Nonrmna Dautz Champagna <*"** PatarLahmam Dataa eeew Wa/bum Eatataa Qaotgaa Duboaut ~7 M HmvHm Hani Bouraaok633 words
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Advertisement57 2006-05-26 14 EH v Surpassing the C CREEK S V6i y eSt °fNZ s Sauvignon (BCancs 90 Points, Smart Buy Highest rated wine in the New Zealand/ Australian category March 2006 Wine Spectator Blue Gold Sydney International Wine Competition 2006 Gold-Air NZ Wine I Awards 2005 I' Gold Wines for Asia 200557 words
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INDIA
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428 2006-05-26 15 The purchase would work out to close to 27,000 crore rupees Economic Times [MUMBAI] The government has cleared proposals to finally acquire close to 60 per cent of the shareholding in the country's largest bank State Bank of India (SBI) fromEconomic Times - 428 words
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337 2006-05-26 15 Bloomberg [MUMBAI] India is seeking to revive regional stock exchanges to help small companies gain easier access to funds and broaden the investor base. India's finance ministry is in talks with the defunct Over-the-Counter Exchange of India for its revival, a move thatBloomberg - 337 words
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Article, Illustration648 2006-05-26 15 Improving position of the steel industry was reason for increased offer [LONDON] Lakshmi Mittal expects Arcelor's management to come to the negotiating table next week, once they have had a chance to look at the Mittal business plan, which will be with the648 words
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Page 15 Advertisements
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Advertisement217 2006-05-26 15 By Order of the Joint Receivers Messrs. D.H. Gilbert S. j. Micheals of BDO Stoy Hayward Re. SIS Ltd. Oriental Carpet Intermediaries (in liquidation) IMMEDIATE AUCTION Authentic Handmade High Retail Connoisseur Calibre PERSIAN EASTERN CARPETS rugs runners in all sizes,, including extra-large oversizes Urgent Liquidation Extremely Valuable Assets SIS Ltd217 words
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Advertisement1481 2006-05-26 15 Iljff gjjjgi Head Office: One Wail Street, New York, NY *****, U.S.A. Oj NtW IV/KIV Singapore Branch: One Temasek Avenue, #02-01 Milienia Tower, Singapore *****2 CONSOLIDATED BALANCE SHEETS CONSOLIDATED STATEMENTS OF INCOME (United States Dollars in millions, except per share amounts) December 31. (United States Dollars in millions, except per1,481 words
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ASIA-PACIFIC/WORLD
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WORLD WATCH
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97 2006-05-26 16 Bloomberg [BANGKOK] Thailand's Election Commission, which has been asked by opposition parties and the country's top courts to resign for mishandling an April 2 snap poll, said it may propose Oct 15 for the elections to be held. The commission will meet againBloomberg - 97 words
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67 2006-05-26 16 Reuters [FRANKFURT] German media conglomerate Bertelsmann AG said yesterday it has agreed to buy the Bertelsmann shares owned by Groupe Bruxelles Lambert (GBL) for 4.5 billion euros (559.08 billion). The buy-back means that family-controlled Bertelsmann avoids the initial public offering of the 25 perReuters - 67 words
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91 2006-05-26 16 AP [TOKYO] Nintendo's profit jumped 12.5 per cent for the fiscal year ended March 31 as a foreign exchange gain and robust sales of handhelds offset shrinking sales of home consoles, the Japanese video-game maker said yesterday. Net profit at Nintendo Co, whichAP - 91 words
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Article, Illustration461 2006-05-26 16 Reuters [NEW YORK] MasterCard Corp began trading yesterday slightly below expectations as the world's No 2 credit-card brand fell victim to a volatile market and concerns over its mounting legal problems. The Purchase, New York-based credit card association's stock began trading on the New YorkReuters; BLOOMBERG - 461 words
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607 2006-05-26 16 NANDE KHIN - IMF-MAS meeting concludes Asia needs reforms Reports by NANDE KHIN ASIAN central bank governors and finance ministers agree on the need for more open and integrated capital and financial markets so Asian savings can be more efficiently invested in the region. They also see near-term607 words
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257 2006-05-26 16 Reuters [NEW YORK] More of the world's biggest companies are listing their shares outside the United States, a trend that will continue barring changes to costly US accounting and tort rules, NYSE Group Inc president and co-chief operating officer Catherine Kinney said on Wednesday.Reuters - 257 words
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173 2006-05-26 16 THE sell-offs in Asian markets over the past few weeks do not mean that investors are growing cautious of investing in the region, said Tharman Shanmugaratnam, deputy chairman of the Monetary Authority of Singapore (MAS), yesterday. From what he has gathered from173 words
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536 2006-05-26 16 Reuters, AFP Bloomberg [LONDON] Shares of London Stock Exchange (LSE) Group, owner of Europe's largest equities market, fell as much as 11 per cent yesterday despite a 42 per cent jump in annual operating profit. The better-than-expec-ted results could not outweigh concernsReuters,; AFP; Bloomberg - 536 words
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Article2284 2006-05-26 16 VOl Gamuda 3.50 -0.08 396 Wyg *4- Ctm General Corp 0.59 -0.02 326 Gent ma 53.30 -040 925 A4M Realty 135 unch 0 GeorgeKent .0.56 -0.02 627 Abric 0 32 unch 20 GHLSvstero 031 -001 3227 ACP Industries .0.10 -0.03 273 032 unth 50« Advance Synergy .030 unch2,284 words
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Advertisement94 2006-05-26 16 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF CES-CHUAN GREEN PTE LTD (In Members' Voluntary Liquidation) Company Reg. No. *****4660K NOTICE IS HEREBY GIVEN pursuant to Section 308( 1) of the Companies Act, Cap. 50 that the Final Meeting of Members of the above-named94 words
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Advertisement738 2006-05-26 17 Notice of Early Redemption by NEPTUNE ORIENT LINES LIMITED (Incorporated in the Republic of Singapore) Company Registration No.: *****0632 D of *****,000,000 4.09 Per Cent. Notes Due 2008 (ISIN: 5G**********) (the Notes) issued by NEPTUNE ORIENT LINES LIMITED as Series 001 of its USss 1,000,000,000 Medium Term Note Programme NOTICE738 words
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Advertisement711 2006-05-26 17 Rules 91 and 101 FORM 69(3) IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF LEAP HONG CONSTRUCTION CO. PTE LTD (IN COMPULSORY LIQUIDATION) Company Registration No. *****1696R NOTICE OF INTENTION TO DECLARE PREFERENTIAL DIVIDEND PURSUANT TO SECTION 328(1 )(b) OF THE COMPANIES ACT, CHAPTER711 words
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Advertisement1432 2006-05-26 17 I* HANG SENG BANK (Incorporated in Hong Kong SAR with limited liability) Publication pursuant to section 25(2) of the Banking Act CONSOLIDATED INCOME STATEMENT CONSOLIDATED BALANCE SHEET for the year ended 31 December 2005 at 31 December 2005 (Expressed in millions of Hong Kong dollars) (Expressed in millions of Hong1,432 words
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AVIATION
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608 2006-05-26 18 Analysts fear investigation may dissuade bidders for the company AP, Reuters, Bloomberg [LONDON] Britain's competition watchdog put Grupo Ferrovial SA's hostile takeover bid for BAA pic into question yesterday, announcing it is considering a full-blown inquiry into the domestic airport market. The government'sAP,; Reuters,; Bloomberg - 608 words
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Article2214 2006-05-26 18 CITY FLIGHT ETA FLIGHT ETD S0143 1535 VF541 1630 GA840 1640 S0146 1640 nil gjj ca4« fix A***** 1805 GA841 1755 IH9771 1750 LH9770 2345 VF542 2205 SQ148 1900 SQ230 750 SQ229 2345 SQ147 2235 AQ7868 1915 S0443 0*75 Dhaka S0435 0550 BG85 1745 LCwtl 06302,214 words
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Article, Illustration470 2006-05-26 18 AP [ISTANBUL, Turkey] Police increased security at Istanbul's Ataturk International Airport yesterday, as authorities and companies began to assess the huge damages caused by a raging fire and tried to determine what caused it. A hardline Kurdish militant group hadAP - 470 words
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422 2006-05-26 18 [KUALA LUMPUR] Budget carrier Air Asia Bhd has denied accusations it was given preference over Malaysia Airlines (MAS) by the government in the recently announced domestic air rationalisation exercise, according to a report in Malaysia's Business Times. "We are not the government's 'golden422 words
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228 2006-05-26 18 Bloomberg [BANGKOK] Thailand's government delayed the opening of Bangkok's new international airport for a third time, saying it will open in September, about a year behind its initial schedule. The construction of the airport will be fully completed in July and require twoBloomberg - 228 words
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242 2006-05-26 18 Reuters [LONDON] Europe's largest budget airline, Ryanair Holdings, said yesterday it had set a five-year agreement with Morocco to develop up to 20 routes aimed at carrying one million passengers a year to the north African state. The pact covers mostReuters - 242 words
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SHIPPING
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Article, Illustration516 2006-05-26 19 It will use earnings and bank loans to finance the capital expenditure Bloomberg [TOKYO] Mitsui OSK Lines Ltd, Japan's second-largest shipping company, plans to spend a record 600 billion yen (SsB.s billion) over three years to meet growing demand for marine transport. Mitsui willBloomberg; FILE PHOTO - 516 words
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423 2006-05-26 19 Reuters [SINGAPORE] Standard Poor's Ratings Services said yesterday it lowered its corporate credit rating on Singapore's PSA Corp Ltd, the operator of the world's largest container transshipment hub, to "AA" from "AAA". The outlook is stable. The ratings were removed from Credit Watch,Reuters - 423 words
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Article284 2006-05-26 19 SGX '000 May 25 S$ W- Vol CH Offshore .0.35 -0.01 463 ChuanHup .031 -0.01 1355 Coxo Corporation 1.30 -0.03 ***** CWT Distribution 1.13 -0.01 90 Ezra Hkto 344 -006 466 Freight Links 0.07 -0.01 1323 Grand Banks Yacht 0J7 0.03 13 Jaya Holdings. 1.32 -0.05 2066 K1284 words
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661 2006-05-26 19 SELVA KUMAR - ADMIRALTY CASEBOOK By SELVA KUMAR THE Hong Kong High Court last week ordered a cargo claim to be stayed in favour of arbitration proceedings in London but the decision was not before a debate over which charterparty should apply to the bill661 words
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295 2006-05-26 19 Bloomberg [SlNGAPOßE] Emirates Shipping Line, a container shipping company from Dubai that started operations last month, will begin to move cargo between the US and China in June, tapping the export demand from Asian countries. The shipping line, with headquarters in Dubai and HongBloomberg - 295 words
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Page 19 Advertisements
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Advertisement13 2006-05-26 19 Kick start your Super Weekend with us every Friday morning I '.-P U13 words
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EDITORIAL & OPINION
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Article536 2006-05-26 20 EDITORIAL THIS seeming urban legend is now almost a well-worn tale, oft repeated by Singaporeans who experienced it firsthand: While shopping in Shanghai, the tourist fancies a suit on the rack, but it needs major alterations. And it's near closing time late at night, and the customer's536 words
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Article, Illustration1104 2006-05-26 20 ROBIN D SCHATZ - The well-known futurist talks about how he arrives at his forecasts and the thinking behind 'revolutionary wealth' and other ideas By ROBIN D SCHATZ Back in 1970, Alvin Toffler challenged us to face the coming technology revolution in the bestselling Future Shock. TheBLOOMBERG - 1,104 words
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Article, Illustration755 2006-05-26 20 FRANK CHING - THE BOTTOM LINE FRANK CHING CHINA, the host of the six-party talks on the North Korean nuclear issue, is trying to get all the parties to sit down together. However, as Chinese President Hu Jintao said after his summit755 words
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Article, Illustration1162 2006-05-26 21 WILLIAM MELLOR, ALLEN T CHENG - By WILLIAM MELLOR, ALLEN T CHENG Bloomberg IT ISN'T easy to be rich in a communist country. Chen Tianqiao earned his first billion dollars at age 30, after his Shanda Interactive Entertainment Ltd went public on the Nasdaq Stock Market and its shares quadrupledBloomberg; BLOOMBERG - 1,162 words
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Article5599 2006-05-26 21 UNIT TRUSTS FUNDS ACMGI Amef Income A EUR 6.6/ ACMGI Amef Income B EUR 6.61 am Km *><-• IM «i Europ Income OppATSGO 15.2* Si! P0n n a,,, ACMGI Eur °P l {ome Opp BT SGO 15.29/ l r W ACMGI Europ mcome Opp AT EUR 7 54/ X f£2i5,599 words
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Page 21 Advertisements
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Advertisement35 2006-05-26 21 r>.r i- 777itr DIT Europazins Best Boticl Europe Fund over syrs category Allianz (ifi) W rated AA by Standard Poor's. Global investors Source: The Edge Upper Si. W o.r I und Aw.ii.h >m m wmnM/35 words
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Article11204 2006-05-26 22 SGX MAINBOARD Transaction date: May 25 52 Wk Td Last Vol Day Last Quote GrOiv Uv GrYld Nat MCap High Low Coda Company Sale W- 000) High Low Buyr SaWaf S Cvr Pfi Smii 5 1 5716 1st Software St 2.5 unch 5% 2.5 2.5 2.5 3 10.111,204 words
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Article6390 2006-05-26 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES in local est In SS In US) dy Xj* dy yr X dy %y» MiyM hide* Change Change Change Change Ch»nQ« Change Wfcrid lnde* Preliminary 974 5 02 05 02 06 06 3.9 I (Aft Preliminary 977.0 04 04 -05 27 U 7.46,390 words
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Page 24 Advertisements
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Advertisement1928 2006-05-26 24 UK CONTINENT SERVICE U.B.A SERVICE Destination Destination GO PRIDE RDM/ATW/BMN/TIJJ/NAN STXPOTBN CAM/NFK/SAV/NOL YOU YA VCW/LAX/MZL Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE F.E7».E.A. SERVICE Destination DOMINATOR ADN/HDD/JDH/AQA Destination PAN DYNAMIC DBI/ABU/DOH/NRN/DMM/KWT STXPOTBN INC/BSN Loads Singapore, E./W. Malaysia, Indonesia Loads E. Malaysia, Indonesia OTHER SERVICES Tramping for1,928 words
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Advertisement727 2006-05-26 24 intikasia roup mtvici YBsa/voY mappo) hbghtch nto kh la sw jkt STRAITS VENTURE 08/04 IS 3.2 11/05 IS/OS 18/05 21/05 23/05 STRAITS VENTURE 09/ M IS 3.2 25/05 21/05 01/06 04/06 06/06 STRAfTS VENTURE 10/04 IS 3.2 08/06 11/06 15/06 18/06 20/06 j AUSTBAUAN KOKO SIKVICI 1 Vtssa/VOY BAMPQCT) HBGHTUHI727 words
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Page 25 Advertisements
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Advertisement2295 2006-05-26 25 WAN HAI INTERNATIONAL PIE LID aN* **********0/1 VTrr\ M rr T1L*****588 (14IMS) FAX:*****163 V\V4 WAN HAI MNFs i*.-n500)*****200 V V WTmil lim LlllLlJ HOIB: 103)334i1KtFAX:(03)*****31W18:(04)*****00FAX:|M)2296Wf V JOHIH: (07) Hiwa HUL K>7P5l»«l n 11: *31) m*7s MX: mi) *****14/ I»1 JM www wnnhoi (am to JKTIB: »021) ***** M MX: <02l>2,295 words
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Advertisement21 2006-05-26 25 PLACE YOUR AD HERE The Business Times Shipping Times CALL MiCHAFL CHNG AT 9862 9H65 OR BERNARD ONG AT 9675 000221 words
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Advertisement675 2006-05-26 25 I® soiisa* WEEKLY EXPRESS SAIUNG SCHEDULE I" ALSO ACCEPTING TO ALL vpsa I vor Isw Ip.kiaii6|colo«o Ihsheva Icoummo I I ALSO ACQPTM6 W. TO COOM, TUTKDRM (VIA COUXWO) AMD MIMA I, COAI cm a shevaj cm—on moths vsu to bmk vbjbtom. rottbdajm HMM6) AMD EAST COAST US* TOW. MO«T>ffOUl A675 words
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Page 26 Advertisements
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Advertisement934 2006-05-26 26 raNordana (Asia) Pie Ltd E»db ■ord—€hwrd— 70 Shenton Way, #21-03 Marina Hous* Singapore *****8 NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS DATES ARE ARRIVAL DATES I VESSEL VOY Shoopore Fr«—itW Cototlilwd Qrlifqs Idoed ParirGwloea mirna m l l Max 2Uta QSJun Mffldhyw !M> QZJuo LLiua 2£lyo934 words
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Advertisement1133 2006-05-26 26 He =|=^=fc= mum itSW \riw vm fkuui I <ni wm wVm "ffliHT (A ***** ?lk ffll 8/TC Bfa \m =3aF==4l==lS= I Ml»' IBe m I Hiß I Igg g; [jj |jl I g I Vissa VOY SM PORT KUMG CMTTtfONG Jdurta tagkafctFAT) U»<M«| *PP— Mrt I hS»% U% 1.i% I„%1,133 words
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THE BUSINESS TIMES SHIPPING TIMES
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7033 2006-05-26 27 This ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Dest'n Name Name Number Number SIN Dest'n Name Name Number Number 12/06 05/07 China Shpg BUNGA MAS 12 057W *****898 TO ABIDJAN (ABJ) 2003 Cote D Ivoire 14/06 12/07 China7,033 words
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executive lifestyle
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594 2006-05-26 28 jaime ee - off the cuff jaime ee ADIES and gentlemen, welcome to Humiliation Academy, aka Singapore Idol 2. It is not, as you might think, about watching a bunch of mmm geeks making horrendous fools of themselves, leading you to wonder: how come Singapore has594 words
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Article, Illustration1551 2006-05-26 28 GEOFFREY EU - Toy collecting is serious business. GEOFFREY EU checks out two new toy museums GEOFFREY EU FROM Buenos Aires to Yokohama, from Stockholm to Sydney, toy museums those showcases of porcelain dolls, tin toys, teddy bears and all manner of objects representing childhood playthings from different periods ofYEN MENG JIIN; ARTHUR LEE - 1,551 words
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Page 28 Advertisements
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Advertisement10 2006-05-26 28 ARTS SAF2OO6: An arena for local talent? H»| PG 2910 words
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ARTS
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Article, Illustration1282 2006-05-26 29 PARVATHI NAYAR - PARVATHI NAYAR finds out whether the S'pore Arts Festival is seen as a showcase of the best of Singaporean creativity PARVATHI NAYAR IT is, after all, called the "Singapore" Arts Festival (SAF) 2006, and the connotations of that first word is still open to discussion.1,282 words
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Article, Illustration527 2006-05-26 29 AARON LYE - PUPPET THEATRE By AARON LYE SOME may wonder about Theodora Skipitares' fascination with an art form many would dismiss as childish, but her love for puppets began for very personal reasons. The time was in the mid-70s, and Skipitares was just starting out as527 words
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Page 29 Advertisements
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Advertisement163 2006-05-26 29 photo editing as well for high resolution 3-D modeling, pre-press editing. CAO design end geming applications making it ideal for graphics professionals, computing enthusiasts and gamers. The contest is from 26th May 2006 to 16th June 2006 Employees of Dell" their immediate families, and employees of the advertising agencies are163 words
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Page 30 Advertisements
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Advertisement20 2006-05-26 30 3Bkr*£m j *M£ J j Mki K Newspaper Subscription 6388 3838 Online www.straitstimes.com.sg Mobile News on all WAP-enabled mobile phones20 words
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EUROPE SPOTLIGHT
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Article, Illustration995 2006-05-26 31 There is much to occupy the visitor in this city rich in architecture, confectionery and, of course, music NYT IN case you haven't been paying attention, this year is the 250 th anniversary of Wolfgang Amadeus Mozart's birth in Salzburg. But that hasn't stoppedNYT; AFP - 995 words
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Page 31 Advertisements
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Advertisement256 2006-05-26 31 ALL you need to do is to answer these two questions correct)* Coma answers from for an eledronk lucky at 31,2006. The prize eonotny air tidoet for two paras to Madrid, Spain. HBWffHWßßHnwHrMiwwwTifrTiir A Hmt to take part SMS your answers to *****. SMS format: Mackid <space> Ans 1 <space>Ans2256 words
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CINEMA
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Article, Illustration564 2006-05-26 32 PARVATHI NAYAR - By PARVATHI NAYAR RIDING Alone for Thousands of Miles by Zhang Yimou is a thoughtful meditation on fathers and sons, individuals and community. The movie opens with all the trappings of the director's trademark style, his penchant to "colour code" films to564 words
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Article, Illustration609 2006-05-26 32 GEOFFREY EU - Despite the potential presented by the various characters, the third installment of X-Men is primarily a special effects showcase, says GEOFFREY EU GEOFFREY EU THE good thing about being a comic book superhero is that death doesn't have to be fatal. In X-Men: The Last Stand,609 words
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Article, Illustration497 2006-05-26 32 PARVATHI NAYAR - By PARVATHI NAYAR WRITER-DIRECTOR Kelvin Tong's latest offering, Love Story, shows his versatility, for it is a radical departure both from his edgy 1999 debut Eating Air still his best work and last year's horror flick The Maid. Love Story is an intellectual, often497 words
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Article, Illustration303 2006-05-26 32 PARVATHI NAYAR - DVD By PARVATHI NAYAR THERE was a lot of curiosity/anticipation over Half Light. Demi Moore's first leading role after her much publicised comeback with Charlie's Angels 2. In that, as the slinky angel-gone-wrong. Moore strutted her stuff with so much oomph, the actual angels looked303 words
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Page 32 Advertisements
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Advertisement58 2006-05-26 32 BILLBRU ORD's EARTHWORKS Tim Garland Mfj y -A "...mixes up styles, moods and 0mr^ meters as effortlessly as it ignores musical boundaries" Wall St. Journal ,A v v>. B .■> y .rlM^ #§r s v "5, rs > «a& j 6 Iune 2006 Victoria Concert Hall $38, $58, $78, $8858 words
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Page 32 Miscellaneous
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Miscellaneous263 2006-05-26 32 CRYPTIC CROSSWORD 1 Said to be segmented (11) i— 9 Safe to cross English border in 10 Minor complaint familiar to a shepherd Penitent opposed to Middle- —4^ 14 Outclass old tennis ace utterly reduction elicits strange reaction! (4,4) 22 Plant producing artificial dia30 Mislay cleaning cloth and go bananas263 words
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Page 33 Advertisements
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Advertisement4193 2006-05-26 33 IJ/Fk WAT 3 NOTICES Bu^^rTnND,t A J L/ Toll free: 1800-289-8822 Email: notices^sph.coni.sg (w BANK OF COMMUNKATHMS CO., LTD N*od Offico: 188 Yin Cheng Zhong Lu, Shanghai *****0, People's Republic of China Singapore Branch: 50 Raffles Place, #26-04 Singapore Land Tower, Singapore *****3 CONSOLIDATED BALANCE SHEET CONSOLIDATED PROFIT AND LOSS4,193 words
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Advertisement439 2006-05-26 33 In the Matter of the Companies Act, Cap. 50 Section 290{2)(b) And in the Mailer of KAY-ASIA SERVICES PTE LTD (in Members' Voluntary liquidation Company Keg. No. 1W*****0 NOTICE OF RESOLUTIONS At an Extraordinary General Mooting of the mombori of the above oomed company duly convened and hold at 65439 words
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Advertisement403 2006-05-26 33 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SYSTEM MANAGEMENT ARTS (SINGAPORE) PTE LTD (In Mwiilin' Voluntary Liquidation) Reg No. *****5166E NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the abovenamed Company duly oonvened and haid at 176 South Sheet, HopWnton MA *****403 words
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Article, Illustration742 2006-05-26 34 LARRY WEE - Making Time There are many reasons for lady watch-lovers to be thrilled by 2006's offerings, says LARRY WEE LARRY WEE THIS YEAR will certainly not be a disappointment for the lady watch-lovers out there who have been patiently waiting for Audemars Piguet to make742 words
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Page 34 Advertisements
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Advertisement88 2006-05-26 34 EST? 1954 SINCERE fine watches This series is brought to you by Sincere Fine Watches More than 250 years of uninterrupted history H' 4 8 JL MALTE dual time u c Selfwinding mechanical movement. Second timezone indicator. Day-night indicator. Date calendar and power-reserve indicator. If A 2 Cube patterned engine-turned88 words
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