The Business Times, 7 June 2006
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2006-06-07
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The Business Times
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Title Section17 2006-06-07 1 THE BUSINESS TIMES Wednesday, June 7,2006 SINGAPORE 85 cents online at http://business-times.asia 1 .com.sg MICA (P) 099/03/200617 words
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509 2006-06-07 1 NEIL BEHRMANN - BAA says offer from consortium, which includes S'pore's GIC, is attractive By NEIL BEHRMANN in London BAA, the UK airports operator, has accepted a £10.3 billion (5530.3 billion) takeover proposal from the Grupo Ferrovial consortium, which includes Singapore's GIC Special Investments. The offer509 words
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Article136 2006-06-07 1 STI 2.390.01 (-17.24) ST INDEX FUTURES 2.393.00 (-18.00) SIMSCI 284.06 (-1.34) SIMSCI FUTURES 284.50 (unch) MARKETS Tuesday Change KLSECOMP 925.49 -6.41 NIKKEI 225 15,384.86 -283.45 HANG SENG 15,973.11 -43.12 SET INDEX 702.04 -11.18 JAKARTA COMP 1,316.94 -32.09 MANILA COMP 2,289.80 -14.16 SEOUL COMP Closed SHENZHEN B 305.18 -0.36136 words
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1003 2006-06-07 1 TEH HOOI LING - Warning on US inflation rekindles fears of more interest rate hikes By TEH HOOI LING [SINGAPORE] Stocks worldwide have slumped again with Japan and Korea giving up all and more of their gains this year after US Federal Reserve chairman Ben Bernanke warned1,003 words
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Advertisement53 2006-06-07 1 COMMENTARY Star Hub should not borrow to pay shareholders PAGE 4 Ihoughts on retirement by Jennie Chua, chief executive of Raffles Holdings. J Plus, a rare peek into the v y personal investment jf'" portfolio of the doyenne JVt" 7s* of Singapore's hotel I mw£' v H industry. EXECUTIVE MONEY,53 words
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Advertisement14 2006-06-07 1 ARTS FESTIVAL *|M| A stranger Aaßß&d at home PAGE 10 HII 8 *****1 *****414 words
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Advertisement170 2006-06-07 1 MOTORING Biodiesel to power Mercs, VWs PAGE 15 Turn on under our NEW International Mortgage Sen/ice Financing, refinancing* or equity release of residential properties in Great Britain, Spain, France, New Zealand, Hong Kong, witta out our mm tmvKQ Winy: Singapore and selected locations in USA, Canada and Australia No early170 words
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Advertisement8 2006-06-07 1 CORPORATE WORLD CUP jp Readyforthe ftf PAGE 28 words
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TOP STORIES
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Article, Illustration705 2006-06-07 2 ANTHONY ROWLEY, CONRAD RAJ - ARREST OF JAPANESE FUND MANAGER In Singapore, the fund's operations are continuing By ANTHONY ROWLEY, CONRAD RAJ in Singapore TOKYO stocks fell again yesterday in the wake of Monday's arrest of high-fly-ing fund management ace and corporate raider Yoshiaki Murakami on charges of insider-dealing705 words
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Article664 2006-06-07 2 Lawyer on the run with $10m entrusted cash A LAWYER is said to be on the run with more than $10 million in cash entrusted to him the biggest amount involving a practising lawyer in Singapore. The Commercial Affairs Department is looking into the affairs of sole proprietorship664 words
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252 2006-06-07 2 Merger will enable entity to compete globally: Costello Bloomberg, AFP [SYDNEY] In a further sign of consolidation in global bourses, the Australian Stock Exchange Ltd (ASX), the third-biggest exchange in the Asia-Pacific, won approval from Australian Treasurer Peter Costello to buy SFE Corp,Bloomberg,; AFP - 252 words
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544 2006-06-07 3 CONRAD RAJ - CAD probes affair of sole proprietorship David Rasif Partners By CONRAD RAJ [SINGAPORE] A lawyer is said to be on the run with more than $10 million in cash entrusted to him the biggest amount involving a practising lawyer in Singapore. The544 words
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Article, Illustration701 2006-06-07 3 CONRAD TAN - Top dollar for healthcare, life sciences: Kelly By CONRAD TAN [SINGAPORE] Employers here expect average salary levels to rise by up to 7 per cent this year, with jobs in emerging sectors such as healthcare and life sciences commanding top dollar, according to701 words
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Advertisement9 2006-06-07 2 people No mountain high enough. www.thepeopleatwork.com Asia-Pacific Lxecutive Search9 words
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Advertisement416 2006-06-07 2 Corporate world cup Ready f) •"kick off By Mike Chua WHEN Nokia Singapore's head Chris Carr signed up for The Business Among them is Deepa Chatrath the only woman in the pack. But the Times-Philips World Cup Fund yesterday afternoon, he completed the list 37-year-old regional director of Corum is416 words
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Advertisement267 2006-06-07 3 Stay in control of your trading around the clock with our multilingual online platform. Opening a position is quick and easy, and A C f 1 1 Q all our products are available through one trading account. \O3/ OJ/U D I IO Go long or short of thousands of Singapore267 words
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Advertisement34 2006-06-07 4 You can now use your CPF savings to invest in AllianzGl Global Allianz (jjj) Hiqh Payout Fund. Visit our appointed distributors for more details. Global investors %M J II company regn no *****7169Z ■#»&>• -4|.34 words
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COMPANY NEWS
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582 2006-06-07 4 KALPANA RASHIWALA - CapitaLand also setting up two new China mall funds that will offer properties to Reit By KALPANA RASHIWALA CAPITALAND's China Retail Real Estate Investment Trust (Reit), slated for flotation on the Singapore Exchange later this year, will own seven assets totalling over $800582 words
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Article782 2006-06-07 4 WONG WEI KONG - HOCK LOCK SIEW By WONG WEI KONG PERHAPS I am refusing to appreciate the finer points of financial ratios and shareholder value here. But somehow, the idea of borrowing hundreds of millions just to look good on paper and make shareholders happy simply does782 words
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Article5932 2006-06-07 4 UNIT TRUSTS FUNDS ACMGI Amer Income A USD 8.45/ ACMGI Amer Income B USD 8.45/ ACMGI Amer Income A EUR 6.54/ AIM Amro Asset Mgt (S pore) ACMGI Amer Income B EUR 6.54/ Star Europe Eqty!" 0.926/ ACMGI Europ Income Opp AT SGO 15.25/ Star Euope Bond 1.1 84/ ACMGI5,932 words
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549 2006-06-07 5 ANGELA TAN - Company asked to help in investigation into 2004 transaction By ANGELA TAN TROUBLED See Hup Seng yesterday said it has been asked by the Commercial Affairs Department (CAD) to help in an investigation by the white collar crime buster into a 2004 transaction549 words
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Article, Illustration393 2006-06-07 5 Bloomberg CHARTERED Semiconductor Manufacturing, the world's third-largest maker of specialised chips such as those used in the Xbox 360 game console, kept its forecasts for a second-quarter profit and gain in sales. The shares fell. The chipmaker expects a net income of US$ll million toBloomberg; FILE PHOTO - 393 words
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307 2006-06-07 5 MATTHEW PHAN - Indicative price of $1 to $1.07 a unit for Frasers Centrepoint Trust By MATTHEW PHAN FRASER Neave (F&N), which is setting up a property fund with three Singapore malls, yesterday said it will price the real estate investment trust (Reit) at between $1.00307 words
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Article404 2006-06-07 7 OH BOON PING - Company's Q1 net surges 58% on strong China demand By OH BOON PING ISDN Holdings' managing director Teo Cher Koon has sold a 9.45 per cent stake or 15 million shares in the mechatronics engineering company at 45.5 cents each. The company said this404 words
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237 2006-06-07 7 JENNANI DURAI - By JENNANI DURAI ENZER Electronics has slashed its full-year net losses substantially from $8.58 million in FY2005 to $650,000 for the year ended March 31, 2006. At the operating level, the consumer electronics manufacturer actually achieved a profit of $1.33 million against a loss of237 words
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Article216 2006-06-07 7 Bloomberg JARDINE Cycle Carriage Ltd, which distributes Mitsubishi Motor Corp cars in Singapore, said first-quarter profit fell 23 per cent due to lower sales from its Indonesian unit. Net income dropped to US$6O.4 million, or 17.94 cents a share, in the three months ended March,Bloomberg - 216 words
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248 2006-06-07 7 JENNANI DURAI - By JENNANI DURAI HELPED by a 63.1 per cent year-on-year rise in revenue to 124.59 million yuan (5524.5 million), Hengxin Technology posted a 47.1 per cent surge in net profit to 14.76 million yuan for its first quarter ended March 31.248 words
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COMPANY BRIEFS
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Article66 2006-06-07 7 UNITED Overseas Bank has bought back 296,000 shares at $14.90 each for a total of about $4.41 million. It has repurchased a total of nearly 5.75 million shares since obtaining its share buy-back mandate. UOB said separately yesterday that it has subscribed for an additional66 words
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Article49 2006-06-07 7 MAGNECOMP International has warned of a second-quarter loss, saying its Q2 performance ending June 30, 2006, is likely to be affected by lower than projected revenue expected from its data storage division, which accounted for 61 per cent of the group's turnover in FY2005.49 words
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Article68 2006-06-07 7 THE Ho Lee Group, which will own 70 per cent of Liang Huat Aluminium after an investment of $3 million in cash, has been given a whitewash waiver by the Securities Industry Council. As such, it will not be required to make a mandatory general68 words
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Article50 2006-06-07 7 MAPLETREE Logistics Trust has completed the acquisition of an industrial warehouse building at Yip Wo Street, On Lok Tsuen, New Territories, Hong Kong, for HK$ll3 million (Ss23 million). It has also signed put and call option agreements to purchase two Singapore warehouse properties for 5530.6 million.50 words
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Article20 2006-06-07 7 ACCORD Customer Care Solution has changed its name to mDR Limited, with effect from yesterday.20 words
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Advertisement16 2006-06-07 5 JH MtoM 4VBvmß'^HES^2«*Wfw dSpWp^^ "y l[!jii^^^Biff 4 n 'A i .^^■XflMfag^- 1 tn^B^^KWlifiltiffi'TMftSnw*t rflH^Bl ■Off*"* i^^^^Kr<HCrafe^£mfl^H16 words
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SINGAPORE MARKETS
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Article, Illustration902 2006-06-07 6 LARRY WEE - CURRENCIES Fed chief Bernanke's hawkish remarks buy US$ a breather, but for how long? LARRY WEE Senior Correspondent THE US dollar, although still shaky, has managed to hover on the right side of several round number supports over the past902 words
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Article, Illustration1007 2006-06-07 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Jun 6 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ BuyI Shares Per Before After Stock Pate Director Sell '000 Shr fOOO) (000) CSE Global 6-Jun-06 Tan Mok Koon *Buy 90 0.99 ***** 6.50 ***** 6.53 LafeTech 5-Jun-06 The Grande1,007 words
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Article274 2006-06-07 6 MATTHEW PHAN - Compiled by MATTHEW PHAN Star Hub June dose: $2.16 CITIGfIOUP RESEARCH, June 6 THE proposed $652 million payout is about 14 per cent of market capitalisation currently and is on top of a net 5.2 per cent yield. A payout of some $652 million involves cancellation of about274 words
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Article, Illustration418 2006-06-07 6 R SIVANITHY - STOCKS R SIVANITHY Senior Correspondent US inflation and interest rate worries returned with a vengeance to haunt the local market yesterday, driving the Straits Times Index down 17.24 points to 2,390.01. The loss would have been much worse had it not been for a418 words
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Article, Illustration288 2006-06-07 6 YEO KEE YAN - CHART POINT By YEO KEE YAN chartist at Kelive Research CAUTION prevailed this past week as the Straits Times Index traded within the 2,368 to 2,430 band. Following the May correction, many traders stayed on the sidelines despite some minor technical bounces. However, selling288 words
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Advertisement77 2006-06-07 7 W-,■ ji,p i '|l i|*it rf f' jH|" r if,4i*l -xi-pV v m. \m^ i c <w&i f"«»? t-*™*.. ;#!S£^^^^B I Tej: 1800-ABN AMRO(£262f76) Tel: **********8 Tel: 8220 7880 Tel: 6220 5333 TW:8667 2863 Tel: **********0 I I Ml W I B M. M yto .«K Hsa ?b*« cXSSj* I77 words
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FOCUS: SHARE OPTIONS
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Article, Illustration2487 2006-06-07 8 MAKYUEN TEEN, BEH SHAOYONG - Do Singapore companies time the granting of options to benefit execs and directors? By MAKYUEN TEEN, BEH SHAOYONG IN 2004, one of us wrote an article about large share option grants by an SGX-listed company to directors which had an exerciseMIEL - 2,487 words
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SINGAPORE NEWS
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Article, Illustration522 2006-06-07 9 MATTHEW PHAN - 70% expect a business expansion in the next two years: survey By MATTHEW PHAN AMERICAN businessmen in Singapore are more optimistic on the world economy than Americans working in other Asean countries, says the sth annual Asean Regional Business Outlook survey by the AmericanSource: The American Chamber of Commerce in Singapore - 522 words
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221 2006-06-07 9 WEE LI-EN - By WEE LI-EN SILBERLINE Asia Pacific (SAP) managing director Lim Yong Wah Allan was charged on 40 counts of corruptly accepting gratifications totalling $500,827 from suppliers of the firm. Investigations by the Corrupt Practices Investigations Bureau (CPIB) reveal that Lim accepted gratifications totalling $135,289 from221 words
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307 2006-06-07 9 NANDE KHIN - It will organise certification programmes By NANDE KHIN TFMASEK Holdings is to help banks in China develop professional quality standards. The Singapore investment company's wholly owned unit, Asia Financial Holdings (AFH), yesterday signed a strategic cooperation agreement with China Banking Association (CBA) to develop307 words
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314 2006-06-07 9 WINSTON CHAI - By WINSTON CHAI STARHUB will soon start public trials of a new broadband service that allows users to surf the Web up to three times faster than they can with its current high-est-end offering. A Star Hub spokesperson told BT that314 words
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Article274 2006-06-07 9 ARTHUR SIM - By ARTHUR SIM AN UNNAMED developer has committed to pay not less than $173.8 million for a 99-year leasehold residential site at Sinaran Drive near Novena MRT station. The 1.25 hectare site, opposite Tan Tock Seng Hospital, is on the Urban Redevelopment Authority's (URA)274 words
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245 2006-06-07 9 AP SINGAPORE'S attorney-general has asked the High Court to dismiss an opposition party member's application to invalidate the citystate's May 6 election, the attorneygeneral's office said. The office said opposition member Chee Siok Chin did not pay aAP - 245 words
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Article, Illustration278 2006-06-07 9 WINSTON CHAI - By WINSTON CHAI ADDING to its sizeable local presence, European electronics giant Philips has invested 12 million euros (5524.5 million) in a state-of-the-art medical training facility here. The 37,000 sq ft centre the company's first in the Asia-Pacific region is outfitted with the latest278 words
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Page 9 Advertisements
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Advertisement1951 2006-06-07 9 :*at^ NOTICES BUY IT iELI 17 FIND it M THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF TAMING DEVELOPMENT PTE. LTD. (In Members' Voluntary Liquidation) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 101-A Upper Cross Street. #11-22 People's1,951 words
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S'PORE ARTS FESTIVAL
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Article, Illustration675 2006-06-07 10 CHEAH UI-HOON - 'A STRANGER' BY DRAMA BOX By CHEAH UI-HOON DIRECTOR Kok Heng Leun got lost recently but not in a foreign country. In fact, he was inside the new Marina Square, trying to find his way out but simply couldn't find his usual exit. The reason: the mall675 words
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Article703 2006-06-07 10 JURENA CHAN - THE PHILHARMONIC WINDS By JURENA CHAN WARMING up was what The Philharmonic Winds needed. And not just a little, but a lot of it. Although last Saturday night's performance did have some high notes most of which were contributed by the soloists it left much to be desired.703 words
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Advertisement297 2006-06-07 10 CCH Tax Accounting Summit 2006 23-24 August 2006 wy.CCH Suntec Singapore International I a Wolters Kluwer business Convention Exhibition Centre CCH Tax Accounting Summit is designed specially for regional Tax and Finance professionals across all industries. A two-day conference that combines a trade exhibition and two post-conference workshops, this is297 words
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Advertisement273 2006-06-07 10 m Country Presentations on Updates of Financial Reporting Standards in Asia Singapore, China, India Malaysia The current state of convergence of FRS in Asia with International Standards Key differences between local FRS and IFRS Outlook of future changes International Tax Planning -An Overview and Update Country Presentations on Trends and273 words
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ECONOMY WATCH
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Article, Illustration531 2006-06-07 11 China studying interest rate hike, mulls further credit tightening moves Bloomberg Reuters [WASHINGTON] Senate Finance Committee chairman Charles Grassley said he expects Henry Paulson President George W Bush's nominee to be US Treasury secretary to be "very aggressive" in pushing forBloomberg; Reuters; REUTERS - 531 words
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444 2006-06-07 11 AP [MUMBAI] Indian shares tumbled yesterday, with the benchmark index dropping 2.5 per cent and slipping below the 10,000 mark for the first time in 3 Vi months as investors reacted to declines in global markets and a hike in domestic fuel prices.AP - 444 words
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637 2006-06-07 11 Market participants expect the dollar's slide to continue Reuters [NEW YORK] Europe's economic recovery looks strong enough to withstand a rise in the euro's exchange rate, but would be even better supported if Asian currencies notably the yen were also allowedReuters - 637 words
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454 2006-06-07 11 Outlook still optimistic: central bank governor Bernama [KUALA LUMPUR] Malaysia's gross domestic product (GDP) growth target for this year remains at 6 per cent, said Bank Negara governor Zeti Akhtar Aziz. "Right now, we are still optimistic about the outlook because the externalBernama - 454 words
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Page 11 Advertisements
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Advertisement132 2006-06-07 11 H I 4IS1? ■9] €B€L THE ARCHITECTS OF TIME THE ARCHITECT SERIES Ebel proudly honors the legacy of Oscar Niemeyer and supports the vision of timeless architecture. Niterbi Contemporary Art Museum, 1996. Niter6i, Brazil. NGEE ANN CITY: Sincere Fine Watches, tel: 6733 0618 PARAGON: Cortina Watch, tel: 6235 0084 SCOTTS:132 words
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MALAYSIA/INDONESIA
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Article, Illustration724 2006-06-07 12 PAULINE NG - It's all fixed up, Tenaga was forced to accept the deals: ex-Tenaga chief By PAULINE NG in Kuala Lumpur THE former chief of Tenaga Nasional has blamed former Malaysian prime minister Mahathir Mohamad for the one-sided contracts awarded to the country's independentAFP - 724 words
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Article2366 2006-06-07 12 vol General Corp 0.59 -0.01 54 J—» H Genting 22J0 unch 829 George Kent 0.48 -0.02 588 A8M Realty 135 unch 4 GHL Systems .0.21 -0.01 1947 XK -032 unch 10 GlobetronksTech 031 unch 321 ACP Industries 0.82 -0.01 69 GlomacBhd 1.18 unch 36 Advance Synergy .0.19 unch2,366 words
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455 2006-06-07 12 [JAKARTA] The government has unfurled a range of risk-sharing guarantee schemes for investors in major infrastructure projects in the country, part of its effort to realise crucial infrastructure development for higher economic growth, The Jakarta Post reported yesterday. Schemes range from extending a project's455 words
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194 2006-06-07 12 [JAKARTA) After a number of delays, state-owned telecommunications firm PT Telekomunikasi Indonesia Tbk (Telkom) says it may finally be in a position to submit its 2005 accounts to the government next week, the Jakarta Post reported. President director Arwin Rasyid said on Monday that the194 words
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436 2006-06-07 12 But assets sale puts its existence in question [PETALING JAYA] The proposed disposal of Lion Forest Industries Bhd's (LionFIB) forest assets is expected to result in a significant payoff for its shareholders in the form of capital repayment or special dividends. This is widely anticipated436 words
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162 2006-06-07 12 Bernama [KUALA LUMPUR] Any commercial decision taken by the Employees Provident Fund (EPF) to raise its stake in Rashid Hussain Bhd (RHB) is fine with the government, says Second Finance Minister Nor Mohamed Yakcop. On Monday, RHB stock surged as muchBernama - 162 words
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BRIEFLY ASIA
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68 2006-06-07 12 Reuters [BEIJING] China will decide this year whether to lift caps on foreign investment in domestic banks, the country's top banking regulator, Liu Mingkang, said yesterday. Asked whether the authorities planned to change the limits, Mr Liu, the head of the China Banking RegulatoryReuters - 68 words
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60 2006-06-07 12 Reuters [SHANGHAI] China, continuing its opening to foreign equity investment, has revised regulations to make it easier for major foreign corporations to buy strategic stakes in its companies. From July 1, the Ministry of Commerce will permit the China-registered investment subsidiaries of such corporationsReuters - 60 words
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53 2006-06-07 12 Reuters [SINGAPORE] South Korea's top mobile phone operator, SK Telecom, is planning to buy alO per cent stake in China's second-largest mobile group, China Unicom, for about US$ 1.1 billion to gain a foothold in the lucrative Chinese market, the Financial TimesReuters - 53 words
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62 2006-06-07 12 Bloomberg [SAN FRANCISCO] Apple Computer Inc, maker of the iPod music player and Macintosh PC, said it has abandoned plans to build a customer service centre in India. "We have re-evaluated our plans and have decided to put our planned support centre growthBloomberg - 62 words
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GREATER CHINA/INDIA
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Article, Illustration517 2006-06-07 13 It'll expand services, software, hardware and research businesses Reuters [BANGALORE/SAN FRANCISCO] IBM, the world's largest computer services company, yesterday announced plans to invest nearly US$6 billion in India over three years, underscoring the country's growing importance as a global hub forReuters; AFP - 517 words
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225 2006-06-07 13 Bloomberg [HONG KONG] China and India plan to make a joint offer for oil reserves in Kazakhstan to avoid a bidding war as the world's two fastest-growing economies vie for energy resources, people familiar with the plan said. Citic Group, China'sBloomberg - 225 words
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400 2006-06-07 13 It will sell 10b shares to be traded on Shanghai bourse Bloomberg [SHANGHAI] Bank of China Ltd, two weeks after pulling off the biggest initial share sale in six years, plans to raise a record 20 billion yuan (553.9 billion)Bloomberg - 400 words
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Article86 2006-06-07 13 Reuters [HONG KONG] Shanghai-listed China Merchants Bank, the nation's No 6 lender, filed with the Hong Kong bourse for a listing worth about US$2 billion yesterday, sources familiar with the matter said. "The deal could come to the market in midJuly at the earliest, butReuters - 86 words
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Advertisement78 2006-06-07 13 H Because financial solutions have no borders or boundaries, ÜBS puts investment analysts in markets across the globe. We have specialists worldwide in wealth management asset management and investment banking. So your ÜBS financial advisor can draw on a network of resources to provide you with an appropriate solution and78 words
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ASIA-PACIFIC/WORLD
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Article, Illustration530 2006-06-07 14 ROLAND LIM - TECH SHOWDOWN Apple seeks to block imports of Creative's handheld devices By ROLAND LIM APPLE Computer Inc has filed a US trade complaint and a second patent-in-fringement lawsuit against the US unit of Singaporebased Creative Technology. According to a Bloomberg report, Apple filed a suit inREUTERS - 530 words
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Article559 2006-06-07 14 Bloomberg [TAlPEl] Intel Corp will make a pitch for loyalty from its customers at the biggest gathering of chip buyers in Asia, after slumping to its lowest market share this decade. Advanced Micro Devices Inc (AMD) will call on them to defect. The twoBloomberg - 559 words
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426 2006-06-07 14 Bloomberg [MUNICH] BASF AG the world's largest chemical maker won over shareholders of US rival Engelhard Corp with a US$5 billion bid after five months of negotiating. Eighty-nine per cent of Engelhard shareholders agreed to accept Ludwigshafen, Germany-based BASF's cash offerBloomberg - 426 words
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337 2006-06-07 14 Reuters [LONDON] Warner Music has bought a minority stake in a Japanese firm that produces radio programming delivered over mobile phones, the latest in a string of worldwide deals for it to distribute songs digitally. The international arm of New York-based WarnerReuters - 337 words
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Article, Illustration61 2006-06-07 14 [JAMMU, India] Activists of the Shiv Sena party shout slogans after burning a motorcycle during a protest against a hike in petrol prices here yesterday. India raised petrol and diesel prices on Monday, easing a little of the pressure on refineries saddled with losses from rising crude pricesREUTERS - 61 words
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487 2006-06-07 14 Focus also on cutting warranty, raw materials costs Bloomberg {DETROIT] General Motors Corp (GM) CEO Rick Wagoner told shareholders yesterday that fixing the automaker's North American automotive operations is a top priority. Mr Wagoner, outlining reductions in healthcareBloomberg - 487 words
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WORLD WATCH
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134 2006-06-07 14 AP [MILAN] Officials of European stock market operator Euronext NV were in Milan yesterday for alliance talks with Italy's stock exchange operator Borsa Italiana, Italian media reported. Borsa Italiana refused to confirm the reports, but the two exchanges said last week they wouldAP - 134 words
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110 2006-06-07 14 Reuters [WASHINGTON] About 679,000 Hewlett-Packard (HP) digital cameras are being recalled worldwide because they can cause some batteries to overheat when the camera is connected to an AC adapter or docking station, posing a fire hazard, US regulators said yesterday. HP is recalling HP PhotosmartReuters - 110 words
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118 2006-06-07 14 AP [TOKYO] More than 1,600 shareholders have filed a suit against Internet startup Livedoor Co and its former president Takafumi Horie for damages incurred from alleged false financial results that inflated stock prices, according to lawyers representing the plaintiffs. The shareholders claim they were misledAP - 118 words
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147 2006-06-07 14 Bloomberg [WASHINGTON] The Bush administration, weighing in on a lawsuit seeking to overturn the Sarbanes-Oxley corporate accounting law, asked a federal judge to dismiss the case on procedural grounds. The Justice Department filing in US District Court in Washington said the challenge wasBloomberg - 147 words
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MOTORING
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Article, Illustration609 2006-06-07 15 SAMUEL EE - A range of Mercedes-Benz and Volkswagen cars will test the fuel over a two-year trial period By SAMUEL EE DIESEL may not exactly be the government's favourite fuel but biodiesel looks set to be. The Economic Development Board (EDB) has partnered Bosch, Shell, Mercedes-Benz,BLOOMBERG - 609 words
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Article, Illustration431 2006-06-07 15 SAMUEL EE - By SAMUEL EE ONE year after Asia Tracks unveiled its $1 million vehicle tracking service forlleet owners, the Singapore company has invested another $300,000 to upgrade the technology and is now targeting consumers. The real-time vehicle tracking service uses a black box with an431 words
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Advertisement82 2006-06-07 15 "S Li et £«jl Quick-drying Check washing at8r rGS Stant BLUE J RED B^CFK f T rjyith 1 1 1'kj refill I < w °rth SI 60) Promotion packs available at all major bookstores and stationers Limited period only or while stocks last una a u n i I) .182 words
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AVIATION
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Article, Illustration813 2006-06-07 16 VEN SREENIVASAN - BT exclusive Focus on low costs, wider network, and higher traffic and utilisation By VEN SREENIVASAN [SINGAPORE] A determined focus on keeping costs down to the bare bones, growing the network quickly and filling as many seats as possible has kept TigerFILE PHOTO - 813 words
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273 2006-06-07 16 AFP [KUALA LUMPUR] At least 3,206 Malaysia Airlines employees have taken up a retrenchment offer and the national carrier will now axe more staff from its bloated headquarters, reports said yesterday. The ailing carrier last month launched the separation scheme whichAFP - 273 words
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LOG BOOK
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44 2006-06-07 16 [SINGAPORE] Dubai-based Emirates Airlines has signed up to sponsor The Emirates Singapore Derby, Singapore's landmark horse-racing event, for the 11th consecutive year, and in the process, boosted the prize money for the race to a record $1 million.44 words
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82 2006-06-07 16 AP [DUBLIN] Ryanair Holdings pic, Europe's most rapidly expanding airline, reported a 12.7 per cent gain in full-year net profits yesterday, despite absorbing a heavy rise in the cost of aviation fuel. For the fiscal year ended March 31, the carrier said thatAP - 82 words
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86 2006-06-07 16 Bloomberg [VANCOUVER] Toronto's Pearson International Airport was the world's most costly place to land last year, according to a study released yesterday, bolstering arguments from carriers such as Air Canada that fees are cutting their profits. Pearson charged U5510,986 for an airline to landBloomberg - 86 words
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35 2006-06-07 16 AFP [PARIS] China's biggest airline, China Southern, is to become a member of the global airline alliance Sky Team next year, the 10 members of the alliance announced last Friday.AFP - 35 words
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Article, Illustration335 2006-06-07 16 VEN SREENIVASAN - He begins one-year 2006-7 term immediately By VEN SREENIVASAN [SINGAPORE] Singapore Airlines chief executive officer Chew Choon Seng has taken over as the chairman of the International Air Transport Association (lata). The 261-member organisation, which represents 94 per cent of the world's airlines, yesterday335 words
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Article226 2006-06-07 16 AFP [BANGKOK] Thailand is offering to waive landing fees at Bangkok's new international airport to attract lowcost airlines to the facility which is expected to open in late September, officials said yesterday. Thailand's civil aviation chief Chaisak Angsuwan said budget carriers could begin running testAFP - 226 words
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Article2106 2006-06-07 16 CITY FUCWT ETA FLIGHT (TO SQ407 0715 IC860 0925 32 AI480 0740 AI481 1625 scnssi —1300 KiaJffla—W* ijjj IHQ771 17SO if*Q77n 234S Dwpwr" SQ141 1145 SQ142 0935 12$ ISo 3S £gg L***** 0630 AZ3995~225 gg ASSS SS ?n§ isi it s S tutttt KL 37 1??92,106 words
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Page 16 Miscellaneous
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Miscellaneous188 2006-06-07 16 CRYPTIC CROSSWORD DOWN 8 Bottom team after defender YESTERDAY'S SOLUTION 1 A national topic of discussion 4 c ashowtr al(B) 16 She's used to getting low some, 13 Genus, 14 Sergeants, 16 2 Unusual route to shot on tar- scores (9) Thumbnail, 19 Basin, 21 Overall, 23 9 e f188 words
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SHIPPING
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Article, Illustration686 2006-06-07 17 DONALD URQUHART - Fee of US$4OO per FEU from June 15 to Nov 30 on Asia to US tradelane By DONALD URQUHART [SINGAPORE] Transpacific container carriers including Neptune Orient Lines' APL will impose higher peak season surcharges from next week on the world's largest tradelane fromREUTERS - 686 words
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Article, Illustration71 2006-06-07 17 [ATHENS] Minister of State for Finance and Transport Lim Hwee Hua and Greek Minister for Merchantile Marine Manolis Kefaloyiannis cutting the ribbon to officially open the Singapore Pavilion at the Posidonia 2006 maritime exposition, the world's largest shipping fair, that opened in Athens on Monday. With 1671 words
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624 2006-06-07 17 DAVID HUGHES - STRAIT TALK By DAVID HUGHES IF YOU visit the website of the International Association of Classification Societies (lACS), you will read the following: "Dedicated to safe ships and clean seas, lACS makes a unique contribution to maritime safety and regulation through technical support, compliance624 words
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420 2006-06-07 17 Bloomberg [SINGAPORE] Hyundai Heavy Industries Co, the world's biggest shipbuilder, and other dockyards may expect orders for new vessels to decline in 2008 as demand to replace old ships slows down and the risk of a capacity glut heightens, anBloomberg - 420 words
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Article277 2006-06-07 17 sgx 4MP' 'ooo Mm 6 SS W- Vol CH Offshore 0.34 -0.01 146 ChuanHup .0.31 -0.01 713 Gosco Corporation 1.31 0.01 4142 CWT Distribution 1.22 unth 19 Ezra Htdgs 234 -0.02 154 FreightLinks.... .0.06 -0.01 502 Grand Banks Yacht .0.88 unch 0 Java Holdings 1.38 unch 115 Kl277 words
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402 2006-06-07 17 Company's majority owner buys remainder of unit Bloomberg [HONG KONG] Shares of Shanghai Port Container Co surged by their daily limit of 10 per cent after the company's majority owner, Shanghai International Port (Group) Co, operator of China's busiest container harbour, said it would buyBloomberg - 402 words
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140 2006-06-07 17 Bloomberg [HONG KONG] Metro Pacific Corp, a unit of Hong Kong's First Pacific Co, said it may sell all or part of its unit Negros Navigation Co, a Philippine shipping line under debt rehabilitation. "Metro Pacific is engaged in a number ofBloomberg - 140 words
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Page 17 Advertisements
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Advertisement43 2006-06-07 17 Myanma Five Star Line, Yangon is pleased to announce the appointment of: BSA TRANSPORTATION PTE LTD 10 Anson Road, #12-01 International Plaza Singapore *****3 Tel: 6227 3318 Fax: 6227 3039 as their Container Feeder Service Agent with effect from 1 st July 200643 words
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FOCUS: GIBRALTAR
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Article, Illustration745 2006-06-07 18 JOE HOLLIDAY - The Rock offers the global shipping industry far more than just bunkers and a first-class cruise destination, says JOE HOLLIDAY JOE HOLLIDAY OUR maritime economy performed strongly in 2005 and the coming year looks set to be another record-break-ing one. The number of cruise passengers wasDOUGLAS CUMMING - 745 words
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287 2006-06-07 18 DAVID HUGHES - By DAVID HUGHES ONE of the roles of a government's maritime administration is to investigate shipping accidents and the Gibraltar administration has now investigated and published its reports on two incidents. Taking on this role, rather than requesting the UK's Marine Accident Investigation Branch287 words
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Article, Illustration281 2006-06-07 18 GIBRALTAR pulled out all the stops when representatives of the 65member Association of Mediterranean Cruise Ports (MedCruise) from 18 countries gathered at the small territory's Caleta Palace Hotel for the organisation's 28th general assembly last month. The delegates' packed two-day itinerary included a full day ofDOUGLAS CUMMING - 281 words
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693 2006-06-07 18 DAVID HUGHES - By DAVID HUGHES GIBRALTAR'S cruise industry could see a record year in 2006 with over 200 vessel calls booked so far, beating the last high of 175 calls in 2000. Last year's cruise season saw 166 vessel calls, down slightly from 168 in 2004. But693 words
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544 2006-06-07 18 DAVID HUGHES - By DAVID HUGHES THE number of ships flying Gibraltar's defaced Red Ensign has grown from less than 30 to more than 200 in the past 10 years. Growth was particularly rapid in the first part of this decade but the fleet544 words
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Page 19 Advertisements
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Advertisement50 2006-06-07 19 the complete shipping service t 70,000 vessels transit the Western entrance to the Mediterranean each year. f- f -fa V Y 'V If- 1 V t 1. i V. v More and more of these ships are making use of the comprehensive range of senrfjfaf P r wHMynclude: v--. f|f50 words
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EDITORIAL & OPINION
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540 2006-06-07 20 EDITORIAL THE market axiom used to be "sell in May and go away". Now, it seems "the selling in May won't go away". After a month of near-relentless pressure that has wiped off 10 per cent from the Straits Times Index, June has seen540 words
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Article, Illustration1429 2006-06-07 20 Bernanke gives an overview of the trend, and the prospects and challenges ahead Edited excerpts of remarks by US Federal Reserve chairman Ben Bernanke at the International Monetary Conference on June 5. IT IS reasonably clear that the US economy is entering aAFP - 1,429 words
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Article, Illustration747 2006-06-07 20 FRANK CHING - THE BOTTOM LINE FRANK CHING THE package deal of proposals on the Iranian nuclear crisis reached in Vienna by the five permanent members of the United Nations Security Council plus Germany last Thursday underlines the growing convergence of views on747 words
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Article, Illustration1357 2006-06-07 21 TAN JIN SAN - Beating US online auction giant with every step it took since its inception, Taobao.com now has 67% of China's C2C market By TAN JIN SAN FOR A market that was in its infancy only a few years ago, the consum-er-to-consumer (C2Q market in China hasBLOOMBERG - 1,357 words
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Article, Illustration1045 2006-06-07 21 DANIEL GROSS - By DANIEL GROSS NYT LAST Tuesday, when President George Bush introduced Henry M Paulson Jr as his choice to replace John W Snow as Treasury secretary, Mr Bush rattled off a string of impressive economic statistics. "In the first quarter 0f2006,NYT; BLOOMBERG - 1,045 words
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Article200 2006-06-07 21 Wong Yew Wah Singapore - LETTER TO THE EDITOR Wong Yew Wah Singapore I READ with some scepticism the article "Households, firms coping well with rate hikes: MAS" (BT, June 3). 1 have come across many people who are struggling to pay their mortgage instalments. To do so, many200 words
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Article9231 2006-06-07 22 SGX MAINBOARD Transaction date: Jun 6 52WV Td Lart Vol Day laatQuota GrOiv W* GrYld Nat MCap High Low Coda Company Site +<- COOP) Wgh law Buyer S«»« Cvr m in* 5 1 5716 IstSoftwareSc 2.S 2 J 10.1 16 6 3148 8Te1ecomUS2c 7 6.5 7 5.8 499,231 words
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Page 22 Advertisements
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Advertisement17 2006-06-07 22 THE WATCH OF YOUR LIFE EXCELLENT SHAPE SC. T«i: 8235 6527 R«ffl«s Hotel T1: 6334 3241 j17 words
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Article6151 2006-06-07 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES la local catr hS$ la US* ity *y» dy jt <(y ttyf JunS Chmgr Chang* Chanqa Changa Oawpt Chang* WuUlidMPietonwy 991.1 -05 U -04 06 -05 63 I EAFl VHfcwnif f 9897 44 1.7 -04 4j0 -0l6 9.8 cjocePwfciway ***** -04 24 -0.46,151 words
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Page 24 Advertisements
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Advertisement1837 2006-06-07 24 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination GO PRIDE RDM/A7W/BMN/TLB/NAN STX POTBN CAM/NFK/SAV/NOL YOU YA VCW/LAX/MZL Loads Singapore, E./W. Malaysia, Indonesia loads E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE F.E./S.E.A. SERVICE Destination DOMINATOR ADN/HDD/JDH/AQA Destination PAN DYNAMIC DBI/ABU/DOH/NRN/DMM/KWT STX PO TBN INC/BSN ASEAN PREMIER DBI/ABU/DOH/BRN/DMM/KWT BEL ANNA DBI/ABU/DOH/BRN/DMM/KWT Loads Singapore, E./W. Malaysia,1,837 words
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Advertisement700 2006-06-07 24 IINTSKASIA RORO SCRVKC ypsa/vor I iww mbgww kg km m aw g SIRAITS VENTURE W/04 15 3.2 25/05 21/05 01/ M 04/0* 04/06 STRAITS VENTURE 10/ M IS 3.2 08/04 11/04 15/04 11/04 20/04 STRAITS VEKTUREII/04 IS 32 22/04 25/04 21/04 02/07 04/07 [AUSTRALIAN RORO SERVICI VBsa/yor |«amhkd|hbghtui| to I700 words
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Page 25 Advertisements
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Advertisement1092 2006-06-07 25 WAN HAI INTERNATIONAL PTE LTD a NO: 14******000/1 i T1L*****5M (14 IMS) FM:*****163 VAMWAIAM lIAI I IMCC CwfawrScnriu/BookhgsDfcvcttfca• (1800)*****200 V >n \YvMn nMI LinCJ V—- JOH IfL (07) *****2J FA* (07)251»9?1 SUB 1*1031)*****75 FAX: (031) *****14/ *****05 www wank.! mm to *TTH:(MI) 52S41«F«:(0J1) S7S47M PUIM: nO«/71U»l FA*****79 1 www.wonnol.lom.ig 11H:1,092 words
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Advertisement951 2006-06-07 25 EASTERN CAR LINER, LTD 1 SPKIAUZI IN ROUP HEAVY UFT UPTO 450 TOMS nmu-Asu soma voy isf ufthf 10 «t sw pou moo wcuw) rm jkt 10 sut m OCEAN HUE UT 50 M/ 04 Z mmk ~n is vsr liftr z MERUOH ACE 27 30 10/04 13/04 14/04 14/04951 words
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Advertisement685 2006-06-07 25 m s mrA WEEKLY EXPRESS SAIUNG SCHEDULE AND WESTERN ICQ POIMTSI vcsn ypT |sw I pjuwclcoumho lit sww I coiowo I IMto <>COBFT»»6 KL to coam, comn»» umu i COA| (VIA N SHEVA) CONNECTMG MOTHS V»S TO BMK (RUBTo*fc WOrtWDAM.I MlWt) AWP EAST COAST USA (WEW TOW, HOWHWH t (HAMBTOW)685 words
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Page 26 Advertisements
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Advertisement944 2006-06-07 26 Nordana (Asia) Pte Ltd UOBM 70 Shut- Woy, *21-03 Marho Hbwb *****8 NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS DATES ARE ARRIVAL DATES VtSStt VOT Shfopora 1 Fro—tie Cow \dmi I OHsl—slilwd I Slawwrt Risk GfAwg Island hire lE6OS I 22iun 30Jun 03 Jul 10 Jul944 words
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Advertisement640 2006-06-07 26 Sfc Sfc— Skm. M~ Kiaa -anTllr Iwum 174W mm lft/H mmu ws; or/By mw -ffikr TfflS. Bfci —THhET Iff* m m —jjjj clF^in iSSuiiw I mbim.. 1 m iiitt I■» I •■"»11 MB |E.||!ll|| iljjj }|j§ VfSSEI VOY SM POKT KUN6 CMTTMONC Jdwrt. nii W m tm+kwn twQwfci Vtf Th640 words
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Advertisement414 2006-06-07 26 i BSA 4 MYANMA mm FIVE STAR LINE (Mynmor Notio«al Um) Loadiag (or Yngoa vissa vor sin m pin pgii aw SflWI HAW 90W SU) PAGAN J49W SU IN MALAYSIA: IOUSTUD SHIPPING AGENCIES KUI/PKL 03-300 SO 3U PIN: 04-2*33*1 S ACCEPTIiB CONVENTIONAL C«0 VESSEL VOT HK SM m MARMEMUM 35414 words
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THE BUSINESS TIMES SHIPPING TIMES
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6842 2006-06-07 27 This mam————— ETA ETA Advartbar Vessel Vo«9« Telephone ETA HA V|~J< T j£S£!U' Ul SM Desfn Mm Hum Number Mmber SI* Desfn Name Name Number Number Sll 01/07 22/07 NGPL PACIFIC ADVENTURER 05E *****288 T< To ABIDJAN (ABJ) 2003 Cote D'lvoire To GUAM (GUM)6,842 words
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EXECUTIVE MONEY
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Article, Illustration1236 2006-06-07 28 TONY DOLPHIN - Stock markets around the world have fallen sharply in recent days. What's going on? TONY DOLPHIN attempts to make sense of it all TONY DOLPHIN IN little over a week in May, global equity markets gave up most of the gains that they had made inAFP - 1,236 words
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Article, Illustration1202 2006-06-07 28 RAY BARROS - RAY BARROS second-guesses the Fed RAY BARROS AT time of writing, the burning question for the financial markets is: Has the cycle of interest rises by the US Federal Reserve come to an end? The assumption is that if the cycle has ended, the stock market1,202 words
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Article, Illustration1049 2006-06-07 29 CONRAD TAN - Hotel doyenne Jennie Chua tells CONRAD TAN what she thinks of retirement CONRAD TAN RAFFLES Holdings chief executive and president Jennie Chua is 61, but she insists that retirement is far from her mind. "I don't really think about retirement at all. 1 keep talking aboutARTHUR LEE - 1,049 words
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Article, Illustration286 2006-06-07 29 Chua Boon Lee - By Chua Boon Lee Standard Poor's Associate, Fund Services The spike in equity risk aversion seen in recent weeks has exacted some collateral damage on small capitalisation companies in key regions around the world. After exhibiting remarkable resilience through the bear market ofSource: All returns are in S$ based on benchmarks selected by S&P - 286 words
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638 2006-06-07 29 GENEVIEVE CUA - INSURANCE RESTRUCTURING By GENEVIEVE CUA IF you are considering cancelling one insurance plan to buy another, as part of a restructuring exercise, bear in mind that premiums already paid are sunk costs. What is important is to weigh the opportunity costs638 words
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Article, Illustration992 2006-06-07 30 GENEVIEVE CUA - Many Singaporeans are actually under-insured and there is a remedy that doesn't involve incurring higher payments by restructuring the insurance portfolio. GENEVIEVE CUA reports GENEVIEVE CUA IF you have young children, you are likely to be under-in-sured for death, critical illness and income protection. This is992 words
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Page 28 Advertisements
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Advertisement1562 2006-06-07 28 NOTICES BUY IT SELL IT FIND IT IN HIGH COURT OF THE REPUBLIC OF SINGAPORE Companies Winding Up No. 56 of 2006/ V In the Matter of the Com panto Act Chapter 50 And In the Matter of U TEAM CONTRACT PTE LTD (Registration No. *****0143G) TANAKASA PTE LTD Plaintiffs1,562 words
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Page 29 Advertisements
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Advertisement73 2006-06-07 29 It's simpler to invest globally with Fidelity. m mm Visit our website at www.fidelity.com.sg to find out how. Iffif Tm INTERNATIONALtm I Bert Performing Fund Management Group (3-Year) o*ntMQo MHQPtU Best Performing Fund Management Group (10-Year) %9ii%M%M9%0 WW M&WOMJ Past performance is not indicative of future performance. This publication has73 words
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Page 30 Advertisements
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Advertisement36 2006-06-07 30 JENNIE CHUA ON RETIREMENT 'I don't think I'll ride off into the sunset.' pg 29 RRPmmp :"1 I tS&tfß Mil S ■B«a»WmSm'mmfwM f ■> > \l m r-. 2j y» > ~\y»b« *1* -•r,4?% aV ?;r^■ 'Av t- J36 words
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