The Business Times, 8 June 2006

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Total Pages: 30
1 30 The Business Times
  • 17 1 THE BUSINESS TIMES online at http://business-times.asia 1 .com.sg MICA (P) 099/03/2006 SINGAPORE 85 cents Thursday, June 8,2006
    17 words
  • 798 1  -  With mayor acquisitions in Singapore, Indonesia's biggest property and retail group is now ready to invest anywhere in Asia and beyond By SHOEB KAGDA in Jakarta INDONESIA'S aggressive Lippo Group will use Singapore and Shanghai as its headquarters instead of Hong Kong as
    798 words
  • 394 1  -  From Sept 1, boards must give 'negative assurance' on interim results By R SIVANITHY [SINGAPORE] The Singapore Exchange (SGX) said yesterday it will implement most of the key changes to its listing rules that were first proposed in a consultation paper
    394 words
  • 134 1 sn 2,***** (-34.58) ST INDEX FUTURES 2,358.00 (-35.00) siMsa 279.98 (-4.08) SIMSa FUTURES 279.70 (-4.80) MARKETS Wednesday Change KLSECOMP 923.57 -1.92 NIKKEI 225 15,096.01 288.85 HANG SENG 15,816.55 -156.56 SET INDEX 688.22 13.82 JAKARTA COMP 1,287.18 -29.77 MANILA COMP 2,218.42 -71.38 SEOUL COMP 1,266.84 -34.78 SHENZHEN B 293.41
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  • Page 1 Advertisements

  • TOP STORIES
    • 390 2  -  Impetus expected to come from exports and manufacturing By UMA SHANKARI [SINGAPORE] Singapore's economy is now tipped to grow at an even faster rate, boosted by expectations of higher export orders. A Monetary Authority of Singapore (MAS) poll of 20 economists last month
      390 words
    • 434 2  -  By CONRAD RAJ [SINGAPORE] Chief Justice Chan Sek Keong has suggested that the Law Society of Singapore introduce rules to limit the amount of clients' money that small firms may hold at any one time, or the amount that can
      434 words
    • 418 2 Asia General looking to sell two properties SINGAPORE insurer Asia General Holdings, in which a Japanese group bought a stake earlier this year, is said to be looking for buyers for two of its properties —White House Park Apartments along Stevens Road and Hotel Asia on Scotts Road,
      418 words
    • 615 3  -  Value of Hotel Asia, White House Park estimated at $150m By KALPANA RASHIWALA [SINGAPORE] Singapore insurer Asia General Holdings, in which a Japanese group bought a stake earlier this year, is said to be looking for buyers for two of its properties White
      YEN MENG JIIN; ARTHUR LEE  -  615 words
    • 679 3  -  GP Ocean Food puts listing plans on hold By S JAYASANKARAN in Kuala Lumpur DEMONSTRATING a new get-tough attitude towards errant companies, Malaysia's market regulator, the Securities Commission, is investigating a company's accounts, forcing the politically well-connected firm to shelve its listing
      679 words
  • Page 2 Advertisements
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  • Page 3 Advertisements
    • 128 3 THE HOURGLASS Contemporary Horological Art H BIG BANG H vf J i 'i r, H 'A L*> V 1 ♦up**HUBLOT GENEVE 'dk' jPv* JL? -i"'" m* J, J, u, 5P l 'I A LI)H D N Z U FI? A N K P Li [J 1 AW MAI 'J THE
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  • COMPANY NEWS
    • 820 4  -  Key draws: low risk environment economic restructuring By LESLIE YEE PUSHED by less exciting growth prospects in the home market because of limited size and maturity and lured by high-growth opportunities in emerging Asia, Singapore businesses are busy ploughing money into overseas markets.
      820 words
    • 683 4  -  HOCK LOCK SIEW By R SIVANITHY RESORT operator Banyan Tree Holdings' initial public offer (IPO) prospectus is one of the better laid out and more informative offer documents we've read in a long time. What's impressive is that it has included important information
      683 words
    • 367 4  -  By CONRAD TAN MAGNECOMP International's warning of a secondquarter loss sent its shares reeling yesterday. The supplier of components and services to the hard-disk drive industry saw its shares plunge as much as 34.5 cents or 33.8 per cent to an intraday low of
      367 words
    • 595 5  -  Rules silent but SGX says it will look into matter when necessary By WONG WEI KONG LISTING rules in Singapore are silent on companies timing the award of stock options to employees to coincide with low stock prices, but the Singapore Exchange (SGX)
      595 words
    • 557 5  -  By OH BOON PING THE bear market may have begun, with a financial hard landing the likely end to the recent bull market, says Morgan Stanley. In a June 6 report, "The bear market may have begun", its economist Andy Xie said that a
      JACQUELINE PHUA  -  557 words
    • 540 7  -  Warning comes as S'pore banks gear up to expand into the mainland By WEE LI-EN AS local banks look to China for expansion, global credit agency Fitch Ratings has issued a warning on the sector, which it considers one of the biggest vulnerabilities
      540 words
    • 428 7  -  By MATTHEW PHAN DYNAMAX International, a manufacturer of low to me-dium-power diesel engines, lodged its preliminary IPO prospectus with the Monetary Authority of Singapore on Monday. Dynamax's core products, sold entirely in China, are mostly four or six-cylin-der engines with an output range of up
      428 words
    • 405 7  -  By WONG WEI KONG CORROSION prevention service provider See Hup Seng said yesterday it does not know at present whether the company, its directors or management are being investigated by the Commercial Affairs Department (CAD), the whitecollar crime unit of the
      405 words
    • 328 7 Bloomberg SHARES of Neptune Orient Lines, which operates Asia's fourth-largest container shipping company, fell to their lowest in almost two years on concern over declining freight rates and rising gasoline prices. The stock dropped 5.3 per cent to close at
      Bloomberg  -  328 words
    • 303 7  -  By DONALD URQUHART KEPPEL Corp subsidiary Keppel Shipyard and its Rotterdam sister company Keppel Verolme have won contracts worth a total of $127 million to convert an oil tanker for offshore oil production and repair another offshore unit. Singapore-based Keppel Shipyard will convert the
      303 words
    • COMPANY BRIEFS
      • 68 7 COMPACT Metal Industries has reached an in-principle consensus with its creditor banks and Chng Gim Huat on the terms of a debt restructuring exercise and a proposed investment by Mr Chng announced in February. The company said it believes the restructuring exercise will
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      • 51 7 MEDIARING raised net proceeds of about $38.8 million (after deducting estimated expenses of about $500,000) from its fully subscribed rights issue. It plans to use the money for investments and acquisitions including partial funding of its bid to take over Pacific
        51 words
      • 49 7 MIDSOUTH Holdings, which last month became the 100 th Chinese firm to be listed here, reported a doubling in first-quarter profit after tax to 21.6 million yuan (554.3 million). The group's revenue rose 76 per cent to 81.2 million yuan.
        49 words
      • 71 7 HIAP Seng Engineering's 80 per cent owned subsidiary HS Compression Process Pte Ltd has been awarded a US$l4.6 million engineering, procurement and construction contract to deliver crude oil processing equipment to Norway's Frontline FPSO Ltd by December. The group expects a positive
        71 words
      • 57 7 MANHATTAN Resources Limited (MRL) has entered into a conditional sale and purchase agreement with Manhattan Kalimantan Investment Pte Ltd (MKIPL) to buy a 15 per cent interests in Provident Indonesia Energy LLC (PIE). MRL, previously Links Island Holdings, is 43 per cent owned by Manhattan Investments Pte Ltd a company
        57 words
  • Page 4 Advertisements
    • 941 4 yBTj :*ats NOTICES Toll free: 1800-289-8822 Email: notices^sph.com.sg JIUTIAN CHEMICAL GROUP LIMITED (Incorporated in the Republic of Singapore) (Company Registration No.: *****5416H) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Annual General Meeting of the Company will be held at 3 Raffles Place, #05-01 Bharat Building, Singapore
      941 words
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      479 words
    • 123 4 Jf HOWARDSDH JIL'STORAGE WORLD* FREE INFORMATION SEMINAR FRANCHISE OPPORTUNITIES AVAILABLE IN SINGAPORE Howards Storage World is a speciality retailer selling all forms of storage and organizational products for the home and office. Our flagship Singapore store opened in Parkway Parade in January 2005. If you understand the need for customer
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  • Page 5 Advertisements
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  • SINGAPORE MARKETS
    • 546 6  -  STOCKS China stocks hit hard as market barometer falls 34.58 points to 2,355.43 R SIVANITHY Senior Correspondent CHINA stocks suffered their worst drubbing in recent memory in an unmitigated selling session yesterday that had the Straits Times Index plunge 34.58 points to
      Source: Bloomberg  -  546 words
    • 452 6 Deemed Interest; IP: Investment Purposes; SA: Share Allotment; ST: Share Transfer; B/R: Bonus/Rights Issues; OE: Option Excersise; PL: Placement shares; IT: Internal Transfer Compiled by BT OTHER SINGAPORE INDICES Jun 6 VALUE CLOSE BT OB/OS -694.00 -181.00 BTCADI -*****.00 -218.00 BT 10-day MA -*****.00 -69.00 All-SG Equities
      452 words
    • Article, Illustration
      833 6  -  Compiled by MATTHEW PHAN Capita Land Jtaw 7 dost: $4.04 MACQUARIE RESEARCH, June 7 CAPITALAND has established two funds, the Capitaßetail China Development Fund and the Capitaßetail China Incubator Fund, with a combined fund size of $1.62 billion. The company has also proposed the listing of a China
      Source: Bloomberg  -  833 words
    • 545 6  -  CURRENCIES LARRY WEE Senior Corespondent THE US dollar made a nice comeback across the board in Asian trading yesterday as US rate hike worries took their toll on stock markets worldwide, Asia included. In overnight trading, the greenback extended its recovery to trade back
      Source: Reuters  -  545 words

  • Page 7 Advertisements
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  • STOCK FOCUS
    • 969 8  -  Its four-pronged plan aims to grow its revenue from $39m in 2005 to $lb in ten years, says WONG WEI KONG WONG WEI KONG SESDAQ stocks usually do not draw institutional investors, butAdvanced Holdings is an exception. Advanced, which was listed only in September 2004,
      FILE PHOTO  -  969 words
  • Page 8 Advertisements
    • 78 8 a .kw- j J Real-time breaking news 7-day archive podcast V A4j/ hubby SCLyS STI 14 th& b&tt foOIM&SLCks reMt&Ay. vodcost personalised email news alerts It mus tough, the,fir it couple, of nu>n*ht after wt, nu,wi here. We. were really houuxidc STRAITS TIMES INTERACTIVE tMtftt I subscribed* to STI. It's
      78 words

  • SINGAPORE INTERNATIONAL
    • Article, Illustration
      1386 9 Immense opportunities await Singapore companies as Qatar's infrastructure development is largely starting from scratch EVEN among intrepid Singaporeans, game to venture out to new markets relatively untrod and untested, it might still take a somewhat different breed to plump for Qatar, it seems. Cost of living in this
      IE SINGAPORE  -  1,386 words
    • 494 9 SINGAPOREANS need to be sold on the idea of working in Qatar and need, at the same time, to temper their expectations, particularly about pay, says human resource consultancy EL Consult. The Singapore office of the EL group has been
      494 words
    • 482 9 EVERYTHING on the table is negotiable. That perhaps would be one of the foremost things Singapore businesses may want to bear in mind when eyeing the Qatar market. "We often hear that the price submitted in a tender can
      482 words
  • Page 9 Advertisements
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      134 words
    • 8 9 ENTERPRISE The Business tmes SINGAPORE Singapore •nurprim aKportwi^nttmrtontiM"^''^
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  • S'PORE ARTS FESTIVAL
    • 672 10  -  JOHN WILLIAMS AND RICHARD HARVEY By BRYNA SIM, JURENA CHAN THEY are masters of the stage with their music, but there's more to film score maestro Richard Harvey and guitar virtuoso John Williams than their excellent partnership and worldfamous tunes. When it comes to personality, Mr
      672 words
    • 434 10  -  FORWARD MOVES By NOOR AISHA FOR two days only, groove to the beat of Forward Moves a world premiere of four dances choreographed by Singapore's Aaron Khek, Kuik Swee Boon, Elysa Wendi and Danny Tan. "Choreography is but a mere device it takes meticulous rigor
      434 words
    • 610 10  -  SHANGHAI BEAUTY By SIM PING KHUAN SHANGHAI Beauty is not about sultry Shanghainese beauties moving around the stage, but the dance performance attempts to reconcile the contrasting views of beauty between China and Europe, and deals with the concept of the "New China"
      610 words
  • Page 10 Advertisements
    • 39 10 GOOD THINGS IN LIFE COME IN A BUNDLE! Enjoy your financial news fresh The Business Times Act now! First 100 subscribers will receive Spa voucher worth t $188! Subscribe to 12 months of The Business Times at and receive
      39 words

  • SINGAPORE NEWS
    • 580 11  -  Survey finds 37% of customers were driven away by poor service By MATTHEW PHAN, JAMIE LEE ASIAN financial institutions are hungrier than their Western counterparts when it comes to snapping up acquisition targets, but they still keep an eye on customer oriented
      580 words
    • 143 11 AFP THE High Court ruled yesterday that the Singapore Democratic Party (SDP) defamed Prime Minister Lee Hsien Loong and Minister Mentor Lee Kuan Yew. "Yes, judgment has been entered," the lawyer for the two ministers, Adrian Tan, said after the hearing. "As for
      AFP  -  143 words
    • 243 11 PASSENGER car COE premiums took some motor distributors by surprise by rising yesterday.. In the first bidding exercise of June, Category A for cars 1,600 cc and below posted the sharpest increase, appreciating by $1,102 to $11,202. Cat B for cars above 1,600 cc
      243 words
    • 345 11  -  By CRYSTAL NEO SINGAPOREANS' propensity for living well is clearly reflected by their spending at bars and restaurants, according to data from Master Card. Singaporean MasterCard cardholders spent U*****,800 on the food and beverage industry during the first weekend
      YEN MENG JIIN  -  345 words
    • 399 11  -  By SAMUEL EE SHELL'S alliance with convenience store chain 7Eleven to operate its network of 65 petrol stations is more "customer-driven" than about saving cost, said the oil chain. The two companies yesterday confirmed speculation about their rumoured partnership when they announced
      399 words
    • SINGAPORE ROUNDUP
      • 58 11 THEIR Majesties Emperor Akihito and Empress Michiko of Japan are making a state visit to Singapore from today until Saturday at the invitation of President S R Nathan. Their Majesties, who will be accompanied by Upper House member Yoriko Kawaguchi and other officials, will
        58 words
      • 85 11 ALLAN Lim, who was charged earlier this week on 40 counts of corruptly accepting gratifications totalling $500,827 from suppliers of Silberline Asia Pacific (SAP), is no longer the managing director of the company. According to a representative of SAP yesterday, Mr Lim
        85 words
      • 57 11 Bloomberg FRIENDS Provident, Britain's fourth-biggest money manager, says it has won a licence to operate in Singapore, one of several initiatives to expand its high-net-worth wealth management business overseas. The Singapore branch will open in September, the company said yesterday. Friends Provident will
        Bloomberg  -  57 words
  • Page 11 Advertisements
    • 40 11 La Strada Ristorante is now open at Shaw Centre LA STRADA 1 Seotts Road, Shaw Centre. #02-10 Sinaapoi'e *****8 Tel: 6737 2022 Fax: 673/ 24J2 Ema i I: las t ra d a cg>l esa mis.c o m. sc; www.lesamis.com.sg
      40 words

  • ECONOMY WATCH
    • 494 12 AFP, Reuters [LUXEMBOURG] Some investors have unwise expectations for interest rate prises by the European Central Bank (ECB), the International Monetary Fund's HIMF) Europe department Michael Deppler tsaid on Tuesday. I "The ECB likes to say •that everything is always and we Jcannot
      AFP,; Reuters  -  494 words
    • 532 12 Repo rate at 7-year high; move comes despite govt's call to hold off increase By OUR CORRESPONDENT in Bangkok THE Bank of Thailand yesterday decided to raise its key 14-day repurchase rates by another 25 basis points to rein in inflation, despite
      532 words
    • 189 12 Reuters [SYDNEY] Australia's economy grew a brisk 0.9 per cent in the first quarter, driven largely by a revival in consumer spending, an acceleration in growth which should keep risks for interest rates to the upside. The quarterly rise in gross domestic product matched market
      Reuters  -  189 words
    • 41 12 UNIT TRUSTS FUNDS Legend: All prices are indicative: Broadly Diversified: I Narrowly Focused: Lower Risk:^ Low to Medium Risk: Medium to High Risk: Higher Risk open-ended: Before subdivision of units: After subdivision of unit: SP after stock split: N.A.-Non Dealing Day
      41 words
  • Page 12 Advertisements
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      36 words

  • MALAYSIA/INDONESIA
    • BRIEFLY ASIA
      • 68 13 Reuters [SHANGHAI] Pudong Development Bank Co, Citigroup's partner in China, yesterday said it was investigating a possible case of fraud involving US$5O million in loans. The bank confirmed a report by Xinhua news agency which said loans totaling 400 million yuan (Ss79 million) were
        Reuters  -  68 words
      • 90 13 Bloomberg [TAIPEI] Lee Chin-chen, a former Taiwan financial regulator, has been found guilty and sentenced to 10 years in prison in a case related to insider trading, the Taipei District Cpurt said. Lee, the former head of the Financial Supervisory Commission's Financial Examination Bureau, was
        Bloomberg  -  90 words
      • 73 13 Bloomberg [JAKARTA] PT Indonesia Power, a unit of the country's state utility, may postpone until 2007 a 4.7 trillion rupiah (***** million) share sale, the nation's biggest initial public offering. The unit may delay the IPO because it needs to revise plans for new plants
        Bloomberg  -  73 words
      • 54 13 Reuters [NEW DELHI] India's Oil Minister Murli Deora said his ministry was not planning to roll back an increase in retail petrol prices, a television news channel reported yesterday. "No proposal (for a partial roll-back) is under consideration at my ministry's level," he
        Reuters  -  54 words
      • 55 13 Reuters [NEW DELHI] Malaysia is keen to develop palm plantations overseas due to a shortage of land at home, Deputy Prime Minister Najib Razak said yesterday. "We are looking for new land to cultivate palm overseas. We don't have enough land," he told a
        Reuters  -  55 words
      • 97 13 AP [KUALA LUMPUR] Malaysia's High Court yesterday barred British Prime Minister Tony Blair's wife from representing a company embroiled in a lawsuit. Cherie Blair, a prominent human rights lawyer, was to appear in the Federal Court, Malaysia's highest court, this month on behalf of construction
        AP  -  97 words
    • 4 13 Source: Reuters
      4 words
    • 620 13 PM broke promise to carry out major projects started by me, Dr M says AP [PUTRAJAYA] Malaysia's former leader Mahathir Mohamad yesterday accused his hand-picked successor of betraying his trust by reversing many of his decisions. In his harshest and most personal attack yet
      AP; REUTERS FILE PHOTO  -  620 words
    • 232 13 Bloomberg [KUALA LUMPUR] Sulaiman Abdul Rahman Taib, son of the Chief Minister of Malaysia's Sarawak state, has resigned as chairman of Rashid Hussain Bhd, the company said in a stock exchange filing yesterday. Mr Sulaiman, 38, has also resigned as a director of RHB Capital Bhd,
      Bloomberg  -  232 words
    • 82 13 Reuters [PUTRAJAYA] Malaysian state oil company Petroliam Nasional Bhd has made profit of about RMBO billion (5534.7 billion) in its fiscal year ended March 2006, its adviser Mahathir Mohamad said yesterday. "This year 1 believe Petronas has made about RMBO billion," the former prime minister
      Reuters  -  82 words
    • 164 13 AFP [JAKARTA] An Indonesian prosecutor has recommended that judges sentence to death a former banker charged with corruption of state funds worth close to US$7.5 million, a report said yesterday. Prosecutors said evidence showed that defendant Dicky Iskandar di Nata. 55, was guilty of
      AFP  -  164 words
  • Page 13 Advertisements
    • 17 13 Call 1800 289 8822 or email notices@sph.com.sg to book your tender notice in our newspapers now. CU/DKo6fr
      17 words
    • 1123 13 €0 NOTICES Registration N0:*****1686N TRANSMARCOf^) TRANSMARCO LIMITED (Incorporated in the Republic of Singapore) NOTICE HEREBY GIVEN that an Exfraonfnarv General Meeting of the Company will be held at Camellia Room, Level 4. River View Hotel, 382 Havelock Road, Singapore *****9 on 30 June 20CB at 10.30 a.m. (or as soon
      1,123 words

  • GREATER CHINA/INDIA
    • 372 14 [HONG KONG] Gaming company Las Vegas Sands Corp plans to develop and own a resort in Macau that will be managed by Fairmont Raffles Holdings International, AP reported the companies as saying. The resort will include 1,500 rooms, and be part of
      372 words
    • 404 14 Reuters [TAIPEI] Taiwan's biggest opposition party yesterday decided to try to drive President Chen Shui-bian from office over an insider trading scandal that has mired his son-in-law and plunged the island into political crisis. But the Kuomintang (KMT), or Nationalist Party, and
      Reuters  -  404 words
    • 515 14 Biggest daily decline in more than four years in Shanghai index AFP, AP [SHANGHAI] Chinese share prices closed sharply lower yesterday, losing 5.33 per cent as persistent concerns over liquidity pressures boiled up in a heavy sell-off, dealers said. The fall in
      AFP,; AP  -  515 words
    • 200 14 AFP [HONG KONG] The mainland's second largest lender, Bank of China (BOC), said yesterday its initial public offer (IPO) here has been increased by exercising an over-allotment option in full, making it the world's fourth-largest IPO. The bank said the over-allotment option was exercised
      AFP  -  200 words
    • 78 14 AFP [HONG KONG] Members of the Harbour Protection Group protesting outside the Legislative Council in Hong Kong yesterday. Holding up a white elephant, the group is calling for the protection of the island's waterfront after the government allocated HK$5.2 billion to build new government offices
      AFP  -  78 words
    • 477 14 Different suspension times for dual-listed Shanghai Petrochem draws criticism [HONG KONG] The disparity in regulatory practices between Hong Kong and mainland markets, which led to different suspension policies and timing of Sinopec Shanghai Petrochemical's dual-listed shares on Tuesday, has prompted reformers
      477 words
    • 332 14 It also has plans for a 2,000 MW nuclear power project Reuters [MUMBAI] Indian utility Reliance Energy is pursuing power projects worth 600 billion rupees (5520.7 billion) and plans a foray into nuclear energy, chairman Anil Ambani told shareholders yesterday. Reliance Energy, which
      Reuters  -  332 words
    • 304 14 [HONG KONG] SAIC Motor, the mainland's second-largest carmaker, plans to raise up to US$2 billion in an initial public offering as soon as the Hong Kong stock market stabilises, says a report in the South China Morning Post, citing sources. "Risk appetite
      304 words

  • Page 15 Advertisements
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  • ASIA-PACIFIC/WORLD
    • 804 16  -  ASIA INSIGHT Investors feel that a crunch is coming as money tightens; the bears seem to know something that the bulls don't yet ANTHONY ROWLEY Tokyo Correspondent FINANCIAL markets are in of an inflation scare. That is obvious from tumbling stock and bond indices,
      804 words
    • WORLD WATCH
      • 102 16 Reuters [WASHINGTON] Former Federal Reserve Chairman Alan Greenspan said yesterday that a big oil shock could cause the US economy to contract. However, he added that the huge rise had not shown up in the economy until recently. "If we get a big
        Reuters  -  102 words
      • 103 16 Bloomberg [TOKYO] A Japanese government panel recommended breaking up former monopoly Nippon Telegraph Telephone Corp by 2010, a move both the company and a discussion group led by the country's ruling party coalition oppose. NTT's rivals KDDI Corp and Softbank Corp have said the
        Bloomberg  -  103 words
      • 73 16 Reuters [LONDON] British insurer Resolution pic said yesterday it had agreed to buy the life business of mortgage bank Abbey for a total of £3.6 billion (5519.8 billion) and would raise £1.54 billion via a rights issue. Resolution had been expected to pay
        Reuters  -  73 words
      • 106 16 Bloomberg [LONDON] Total SA, Europe's third-largest oil company, expects global oil production to peak as soon as 2020, chief executive officer Thierry Desmarest said. Natural gas production may rise to its highest between 2030 and 2040 before falling, Mr Desmarest said at
        Bloomberg  -  106 words
    • 499 16  -  Goldman consortium given until June 16 to make counter bid By NEIL BEHRMANN in London THE Ferrovial consortium, in which Singapore's GIC is involved, has boosted its holdings in BAA to 14 per cent of the British airports company's equity, while shareholders wait to
      AP  -  499 words
    • 442 16 Reuters [SEOUL] Creditors of South Korea's Hynix Semiconductor Inc plan to sell up to about US$2 billion of existing stocks, seeking to cash in on a surge in shares in the world's No 2 memory chip maker. Hynix, which
      Reuters  -  442 words
    • 548 16 Bloomberg [TOKYO] Orix Corp Japan's largest non-bank financial firm said it may withdraw its 20 billion yen (Ss2Bo million) investment from funds run by Yoshiaki Murakami after the shareholder activist's arrest for insider trading. Orix, a leading investor in Mr Murakami's MAC
      Bloomberg  -  548 words

  • AVIATION
    • 622 17 HK airline may also double holding in Air China to 20% Bloomberg [HONG KONG] Cathay Pacific Airways Ltd, Hong Kong's largest airline, plans to spend about US$l.57 billion to buy control of Hong Kong Dragon Airlines Ltd and increase its stake in
      Bloomberg; AFP  -  622 words
    • 299 17 Bloomberg [DALLAS] Northwest Airlines Corp flight attendants rejected an agreement to reduce their pay by 21 per cent and cut jobs, and the bankrupt carrier asked a judge to let it void the union's contract. The Professional Flight Attendants Association threatened a strike
      Bloomberg  -  299 words
    • 253 17 Reuters [KUALA LUMPUR] Civilian airport operator Malaysia Airports Holdings yesterday said financial restructuring talks with the government were "very encouraging", and that it was in talks to manage airports in the Middle East. The state-controlled firm wants to restructure about RMB6O million (***** million)
      Reuters  -  253 words
    • 440 17 The 10 B7B7s and 24 B737-800s are valued at US$3.4b Bloomberg [DALLAS] Continental Airlines Inc, the fourth-largest US carrier, ordered 34 Boeing Co jets valued at as much as US$3.4 billion to help support international growth. The order, announced by Houston-based Continental at its
      Bloomberg; BLOOMBERG  -  440 words
    • 400 17 AIRLINE CODES: AA: American Airlines (AAL), AF: Air France (AFR), AI: Air India (AK), AY: Finnair Oy (FIN), AZ: Alitalia Airlines (AZA), BA: British Airways Public Ltd Co (BAW), BG: Biman Bangladesh Airlines (BBC), BI: Royal Brunei Airlines Sdn Bhd (RBA), BO: Bouraq Airlines (BOU), BR:
      400 words
  • Page 17 Miscellaneous
    • 151 17 CRYPTIC CROSSWORD doing (9) line (9) YESTERDAY'S SOLUTION DOWN 16 Laying out decking (8) Across: 1 Shop steward, 9 Battle--1 Toady Conservative lord's 18 Border's batting before break axe, 10 Tramp, 11 Errata, 12 Hayback (5) (8) maker, 13 Torrid, 15 Election, 18 2 Start loving the French (6) 19
      151 words

  • SHIPPING
    • 483 18  -  Cosco Pacific ties up with AP Moeller to develop, operate 3-berth terminal By DONALD URQUHART [SINGAPORE) The rapidly growing container handling capacity of northern China's Tianjin Port was given a boost yesterday by a terminal joint venture between China's Cosco Pacific Ltd,
      483 words
    • 171 18 AFP [KUALA LUMPUR) Underwater mines could be used by terrorists in an easy and cheap way of destroying ships and disrupting trade, Malaysia's armed forces chief said according to a report yesterday. Admiral Mohamed Anwar Mohamed Nor said that crude underwater mines could be
      AFP  -  171 words
    • PORT SHOTS
      • 62 18 AFP [HANOI] Britain's P and 0 ports and ferries group has started building a container port in southern Vietnam worth US$25O million, an official said yesterday. The Saigon Container Port will be built by P and 0 and the local Tan Thuan
        AFP  -  62 words
      • 75 18 [LONDON] John Fredriksen-controlled bulk carrier owner Golden Ocean Group made a Q1 net profit of US$5.l million and earnings per share of US$O.O2, compared to a net loss and loss per share of US$l.3 million and US$O.Ol per share for Q4 2005. Total operating
        75 words
      • 89 18 [LONDON] Aker Yards and Alstom has signed a deal forming new company consisting of Alstom's shipyards in Saint-Nazaire and Lorient following the securing of a 550 million euro(Ssl.l billion)facility underwritten by a syndicate of four international banks. A new company, Aker Yards, has been
        89 words
      • 68 18 [LONDON] Fred Olsen Cruise Lines Singapore, which is 50 per cent owned by each of Ganger Rolf ASA and Bonheur ASA, has bought the 1988 built 34,242 GT cruise ship Norwegian Crown from Norwegian Cruise Line, a subsidiary of Star Cruises, with nominal delivery in
        68 words
    • Article, Illustration
      57 18 [HAMBURG] A ship is framed by a so-called 'Blue Goal' in a dock at German shipyard Blohm&Voss in the harbour of Hamburg, northern Germany, on early Tuesday. German light-artist Michael Batz has installed more than 160 Blue Goals here as an artistic homage to the 2006 World Cup,
      AP  -  57 words
    • 461 18 Reuters [LONDON] Ocean freight prices for raw materials extended gains on Tuesday amid high soybean exports from Brazil, high steel imports to the United States and strong imports of iron ore to China that show no sign of slowing. Broadly speaking, firm fundamentals and
      Reuters  -  461 words
    • 263 18 Reuters [CAIRO] The owner of a Red Sea ferry which caught fire and sank in February with the loss of over 1,000 lives transferred 330 million Egyptian pounds (5590.7 million) into a compensation fund for victims run by a state prosecutor. Prosecutor Gaber Rihan said
      Reuters  -  263 words
    • 171 18 Xinhua [KUWAIT CITY] The Kuwait Gulf and Link (KGL) transport company on Tuesday announced plans to build a US$l billion container terminal in the Egyptian port of Dumiat. KGL vice-president and CEO Fadel Al-Baghli said that a formal announcement would be made
      Xinhua  -  171 words
    • 366 18 This raises firm's total for year to date to US$6.9b Bloomberg ISEOUL] Samsung Heavy Industries Co, the world's third-largest shipbuilder, said it received orders for 14 container ships worth US$l.5 billion from three companies including Panama's Naviera Daniela SA and Greece's Danaos
      Bloomberg; BLOOMBERG  -  366 words
  • Page 18 Advertisements
    • 461 18 >AT^ NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SIN SOON CHEONG (PTE.) LTD. Company Registration No. *****1776 M (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap.so that the Final
      461 words

  • LOGISTICS
    • 377 19  -  Its new Healthcare and Life Sciences Hub equipped with special features By MELISSA LOH GLOBAL logistics company DHL Exel Supply Chain has obtained a licence from the Health Sciences Authority (HSA) enabling its new Healthcare and Life Sciences Hub to handle highly sensitive
      377 words
    • 196 19 Bloomberg [NEW DELHI] Indian Railways, the state-run monopoly railroad operator, says it will offer discounts on some freight rates to attract business as transport by trucks may become expensive because of the rise in fuel prices. "When bad news is good news,"
      Bloomberg  -  196 words
    • 362 19 US$130 charge per container seeks to ease congestion AFP [CHITTAGONG, Bangladesh] International shipping companies imposed a surcharge on Monday on all containers they transport to or from Chittagong Port in southeastern Bangladesh. The companies slapped a US$l3O surcharge on every six-metre-long container after complaining
      AFP  -  362 words
    • 210 19 Bloomberg [TOKYO] Japan Airlines Corp and Nippon Cargo Airlines are to raise fuel surcharges on international cargo shipments by 13 per cent from next month amid rising jet fuel prices. The two cargo airlines each received permission to raise fuel surcharges for transporting
      Bloomberg  -  210 words
  • Page 19 Advertisements
    • 116 19 £JT£C SCPPtYC/M/A/ ao/w "V :-«3vr..,./?.... ...J. -f« ci V■» I 1 iT;-? c f-.fSBzSBhtGxM-7. ;WO iMlSlffi '5 JjlßSiSl* Ci-S'VS ffltfi■- J4 iv.-V'i: sIP*, "> 1 Sf'v ■*.*'<!&§& .Jf t <*iMf r f rvvsvv!Vß3vnrvv9VsV3rsßn&i 1 un pb IkllAlTATl klHfl ■■1? rJllHl KtMiitisiiMigiaaai worldwide. FROM FREIGHT SERVICES AND PRODUCTION SUPPLY a new
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  • EDITORIAL & OPINION
    • 524 20 EDITORIAL JAPAN hosted this week a meeting of foreign ministers from four Central Asian republics: Uzbekistan, Kyrgyzstan, Tajikistan and Kazakhstan, with Afghanistan's foreign minister attending as an observer. (Turkmenistan declined to attend). While it is true that Japan is interested in Central
      524 words
    • 938 20  -  The central bank knows that sometimes the threat to act is as powerful as doing something By MARK GILBERT Bloomberg DIEGO Maradona, the former Argentine soccer ace, may have taken charge of UK monetary policy just as the World Cup tournament prepares
      Bloomberg; AP  -  938 words
    • 796 20  -  THE BOTTOM LINE NEIL BEHRMANN London Correspondent MONITOR the deeds, writings and quotes of new US Treasury chief Henry (Hank) Paulson instead of pundits' views about the appointment. His words give hope that he is the right man, in combination
      796 words
    • 940 21  -  Companies should cater to the spending power of this segment set to be one of the world's largest consumer markets By DIANA FARRELL, ULRICH A GERSCH, ELIZABETH STEPHENSON Most multinationals operating in China focus on ur-ban-affluent customers, the tip of the consumer iceberg. But new research
      AFP  -  940 words
    • 105 21  -  LETTERS TO THE EDITOR Shan Yoon Chang Singapore I REFER to your article "RM2O levy for foreign vehicles soon" (BT, June 5). Singapore's very own Vehicle Entry Permit (VEP) needs review. We should ban work permit holders from driving into Singapore in cars and allow
      105 words
    • 124 21  -  Narayana Narayana Singapore I REFER to the letter "What does Hock Lock Siew mean?" by reader Ms Jean Li (BT, June 6). In the early days when the column was first launched, I had actually thought that "Hock Lock Siew" was the actual name of
      124 words

  • Page 21 Advertisements
    • 103 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to bttetteresph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel
      103 words
    • 33 21 wrhoE: THEOHES mm u Recruit the right p> people through j CATS Recruit. I CaN 1800 289 8822 > or email f IP recrattfephxoflisg x to advertise. i rL 't filP Hi st; .i
      33 words
    • 448 21 >AT-^ NOTICES oil free: 1800-289-8822 Email spit com sg SDatacraft DATACRAFT ASIA LTD (Incorporated in the Republic of Singapore) (Registration No: *****1842Z) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting ("EGM") of the Shareholders of the Company will be held at Sheraton Towers Singapore,
      448 words

  • 1798 22 Sl-Wk Td Last Vol Day Last Quota Grttv Mr GrTM MM MCaa Low code cww sale w- CWW w» u» —*m Utm c»r m uA 21 16 1131 LafeTechUS4c 18 unch 160 IS 18 18 18.5 17.5N 1.1 6.4 13.5 180 64 34 7804 Landwind k..... _..39.5 -1
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  • Page 22 Advertisements
    • 40 22 Welcome to to the work.! 01 tu j<v i.-h mark-/ tta< i i Make Our City and ti.tcle v: c- '< It i? pOSSlt.'ie tO QUI' k!\ !< St. i' 1 vou understand fv ?•:>*.• r*• t i* t City Index Asia CITV
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  • 3373 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES la tool am hi SI In USS yr <ty yr dy *y» <11ni Hd— Chom Q*np« Ch«nq» Chang* Oi«ngt Orng» WltarttlndaPwfcMMrv 971.1 -13 0-2 14 -1.6 -1.9 35 I EAft Pwfcwafy 971.6 -1.8 -Q2 -2.5 13 -2.9 hJb tiwptPwfcanay *****a 00 04 -2.5
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  • Page 24 Advertisements
    • 1749 24 UK CONTINENT SERVICE U.3.A SERVICE Destination Destination GO PRIDE RDM/ATW/BMN/TLB/NAN STXPOTBN CAM/NFK/SAV/NO. YOU YA VCW/LAX/MZL Lcod, Singapore, E./W. Mrioy*. ln.fan.sk. J MIDDLE-EAST SERVICE F.EJS.E.A. SERVICE Destination DOMINATOR ADN/HDD/JDH/AQA Destination PAN DYNAMIC DBI/ABU/DOH/NRN/DMM/KWT STXPOTBN INC/BSN ASEAN PREMIER DBI/ABU/DOH/BRN/DMM/KWT BEL ANNA DBI/ABU/DOH/BRN/DMM/KWT Loads Singapore. E./W. Malaysia. Indonesia Loads E. Malaysia, Indonesia OTHER
      1,749 words
    • 653 24 V&N WALLENIUS WILHELMSEN LOGISTICS websiti: http://www.2wglobol.com Vtssa VOT RAMP HBOWT SM UK MAO SAV OAI Otf TALISMAN AM 17 320% a* 6.4* 00/00 02/07 11/07 IS/07 19/07 17/07 TARONGA AMU 3301 m 6.25 M 24/00 20/07 20/07 02/00 07/00 05/00 TAMESIS AM 20 nnm MM 07/07 >0/07 00/00 12/00 10/00
      653 words

  • Page 25 Advertisements
    • 1330 25 WAN HAI INTERNATIONAL PTE LTD at NO: 1W*****00/I TEL *****5 M (14IMS) FAX:*****163 T\M\ WAN HAI LINES <mtmm w* Alf Mil lIMI LIHLJ MIB:mSMtMMMI;n)]Ma»mi«:MaiMOMI:M22Wn V JOHm.|B7)ISI(fZ)FU:tO7)ISI*m SMMIMI) *****75 HUL »1) JW1714/ CTIIM i i *TW;(B1) 52S41MNU: mi) SB47MPUIIL 716JM/71UI1 HUL7HI7I WWW.WIIWI.IW.iI mi) 4157 m HUL 0*1) 415W8/4I4WW PGU SM KG
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    • 1121 25 Ivissii Ivor m sin Karachi px» »a» nhs dmm hk ikhor KAN lAAIAH PCI SI4O 07/06 09/06 17/06 20/06 21/06 26/06 26/06 30/06 IRAN KOROCSTAN KL Sl4l 13/06 14/06 23/06 26/06 27/06 02/07 05/07 07/07 KAN SHAHKYAt Kl >142 22/06 23/06 02/07 03/07 06/07 1 12/07 14/07 16/07 I VESSEL
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    • 745 25 W WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTS vtssa I vot Ism fjelanglcoiomo h. swya coumbo iajiy&umhi OIO4W urn zm mm ZLUtt XJUft lOttraaMA mum vim aiu» 01 jul mm IZJtt ■DK EBIES] mm iim MM AISO ACOPTMG fG TO GOQMI IUIKOM (VIA COUMMO)
      745 words


  • BizIT
    • 842 27  -  Local firms with footprints in these countries can take advantage, writes AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY Prospects in China and India are even brighter now for Singaporebased IT companies looking to expand overseas as the two Asian giants continue to rise
      Source: IDC  -  842 words
    • 307 27 AP [WASHINGTON] Google Inc co-found-er Sergey Brin acknowledged the dominant Internet company has compromised its principles by accommodating Chinese censorship demands. He said Google is wrestling to make the deal work before deciding whether to reverse course. Meeting on Tuesday with reporters, Mr Brin
      AP  -  307 words
    • 758 27  -  By ROLAND LIM REGIONAL online music store Soundbuzz, which just last month set up its first online store in India with India's largest telco Airtel, is enjoying rapid and sustained growth on the back of a shift of the music distribution market towards the
      FILE PHOTO  -  758 words
    • 416 27  -  By AMIT ROY CHOUDHURY COLLABORATION with other companies and market players is a key driver of overall business performance of companies around the world, according to a new study done by Frost Sullivan. Business leaders interviewed for the study rated the
      416 words
    • 360 27 Reuters [TAlPEl] Who says smaller is better in the on-the-go world of laptop computing? Clearly not some of the world's top PC makers, who are testing the waters for super-sized laptop computers that look more like briefcases than notebooks. The trend is being driven
      Reuters  -  360 words
    • 250 27 Reuters [TAIPEI] PCs are emerging as a battleground in the budding war between two technologies vying to be the standard for high capacity DVDs and take the lucrative mantle of next benchmark in optical storage. The stakes are huge for
      Reuters  -  250 words

  • PROPERTY
    • 372 28  -  Phoenix Court, Hong Yun Court priced at $100m, $9m respectively By KALPANA RASHIWALA THE owners of Phoenix Court at the St Thomas Walk/Killiney Road corner and Hong Yun Court in Telok Kurau want to join the collective sale bandwagon. Phoenix Court's asking
      372 words
    • 81 28  -  By ARTHUR SIM CAPITALAND'S latest residential development. Scotts High Park in Scotts Road, will have large four-bedroom units with verandas that create the feeling of living in a penthouse or landed home. Duplexes even come with outdoor jacuzzis. The 73-unit boutique development has 37four-bedroom
      81 words
    • 382 29  -  Three Three Robin, Tanglin Residences flats, The Botanic on Lloyd sold out By SWATI CHAUDHARY THREE developers yesterday gave updates on their Singapore residential projects Cheung Kong Holdings (CKH) for Cairnhill Crest, SC Global Developments for Three Three Robin and Capita Land for Tanglin
      382 words
    • 233 29 CITY Developments Ltd (CDL) and its joint venture partners Hong Leong Holdings and TID Pte Ltd have sold a total of 58 units at the 173-unit St Regis Residences, their luxury condominium on Tanglin Road launched just last week. And 65 per cent
      233 words
    • 479 30 So far this year, the total value of acquisitions has reached US$35.6b Reuters [NEW YORK] Acquisitions of publicly traded real estate companies are getting bigger, and the trend is likely to continue because of the tremendous amount of money chasing property and the value
      Reuters  -  479 words
    • 349 30 Investment in 12 countries sharing the euro rose 40% to 141.7b euros in 2005 Bloomberg [EDINBURGH] Western European commercial real estate posted the best returns in five years in 2005 as investor appetite for property pushed up the prices of malls and offices, according
      Bloomberg  -  349 words
  • Page 28 Advertisements
    • 235 28 Jrl '.jfSSt t w J I J* For Sale By Tender J A J {located In Prime District 9) I y Land Area 44,477 sqft (approx) •Tenure Freehold f Plot Ratio 2.8, Up to Maximun Height of art/n 15 storeys Zoning 1 plot 'Residential with commercial g= on Ist storey'
      235 words

  • Page 29 Advertisements
    • 204 29 C~ sHFI w 1 For Sale/Lease High Profile Light Industrial Space for lease/sale Prominently located along Henderson Road U,761 sf (single floorplate) For further information, please call Sole Marketing Agent 6220 3888 J GILSTEAD COURT I I Site Area: 75,479 sf I Potential GFA: 144,668 sf (approx.) I I subject
      204 words
    • 312 29 Fnodules Modem Niche Office I mm m/unmmr s I jMBLJJI ft UB I *ij£y I aH^ ll nli v I***! Jii m I« mi |||fl| iljy^j|^j^^L| I u^Vl|i) j >*SRHj I 'J (HIV I-li»l^phih ■M An iH BHMMBSBWMi I Freehold 3£ A Foreigners Eligible Ha»g Road I Prices from $289,000
      312 words
    • 261 29 WE INVITE THE EXPRESSION OF INTEREST OF DEVELOPERS, CONSULTANTS CONSULTING FIRMS TO FORM A CONSORTIUM WITH US FOR PREPARING A PROJECT REPORT DEVELOPMENT OF TWO INTERNATIONAL CONVENTION CENTRES TO PROVIDE A ONE STOP SOLUTION FOR CONVENTIONS, CONFERENCES EXHIBITION FACILITIES FOR INTERNATIONAL DOMESTIC EVENTS. THE CENTRE WILL BE EQUIPPED WITH ALL
      261 words

  • Page 30 Advertisements
    • 315 30 Now... making waves fQjgfplr by the Singapore River. m K I WBOWWU; :p J pfei.. pp I 3 dining B I 2 bedrooms with large living dining I 2 bedrooms Penthouse with open roof terrace private jacuzzi -1819 sq ft. Limited units available. To view, please schedule an appointment with
      315 words
    • 92 30 Hop on for some armchair travelling at your dining table! The destination? Taiwan, i the country famous for its round-the-clock food streets and eating houses. Now you can feast on an ala carte buffet of dishes \from that region. A dults M Children $16++. Dinner from Monday to Friday; lunch
      92 words
    • 65 30 fancy nomadic din my If f i #01-02, block 3D -yv clarke quay J (opp. fountain courtyard f river valley road As <rfc \k_ Singapore *****3 LJk JKonyofian freshgrill <f: Sar phone: 6339 0200 email: enquiry@thetent.com.sg fcm 6f rou 7th Storey Hainan Charcoal Steamboat 228/229 Rochor Road, Tel: 6333 4900
      65 words
    • 28 30 A BRUNCH WiTH A VIEW f GOURMET FRENCH CUISINE FINE FRENCH CHAMPAGNE M 02 (MUartK Mtk Km For enquiries emit: 6831 6258 MERJTUS MJgOgg* i»*«4 wrnmumuithn dngyon rn»n
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