The Business Times, 13 June 2006
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2006-06-13
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The Business Times
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Title Section15 2006-06-13 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 099/03/2006 Tuesday, June 13,200615 words
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Article, Illustration807 2006-06-13 1 SIOW LI SEN - By SIOW LI SEN [SINGAPORE] Banks can offer Islamic murabaha investment products with immediate effect, the Monetary Authority of Singapore said yesterday. And in a move that could lead to the first Islamic Reit here, it removed the stamp duty on propertyFILE PHOTO - 807 words
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Article133 2006-06-13 1 STI 2.***** (+1.09) ST INDEX FUTURES 2,340.00 (unch) siMsa 277.83 (+0.02) SIMSa FUTURES 277.90 (-0.10) MARKETS Monday Change KLSECOMP 916.70 +130 NIKKEI 225 14.C3.01 >82.17 HANG SENG 15,621.44 -7.25 SET INDEX closed JAKARTA COMP 1,273.11 -1.643 MANILA COMP closed SEOUL COMP 1,239.84 +4.19 SHENZHEN B 276.50 -2.32 MUMBAIIND133 words
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Article, Illustration720 2006-06-13 1 KALPANA RASHIWALA - Sector gets boost from spillover demand for new projects; en bloc caveats also cited By KALPANA RASHIWALA [SINGAPORE] Transactions in the secondary market for prime district apartments and condos hit a 10-year high in the first quarter of this year, according toSource: URA Reals, DTZ Research May 2006 - 720 words
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Page 1 Advertisements
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Advertisement12 2006-06-13 1 SMALL CAPS HRV Consolidation's the way to go for Darco PAGE 1212 words
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Advertisement126 2006-06-13 1 'Ax if BTONLINE BT print subscribers get free access to the Business Times Online. To activate your account, log on to httpi/business-times.asia1 .com.sg. For more information, e-mail btocsOsph.com.sg or call 6388-3838. f 1 i H iihH M- mil kW i f' MT T I 1 T I I «1 skit»lr»*«mi126 words
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TOP STORIES
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Article, Illustration639 2006-06-13 2 CHUANG PECK MING - Poll shows 16% plan to increase staff in Q3, down from Q2's 21% By CHUANG PECK MING [SINGAPORE] Hiring momentum in Singapore appears to be easing, with fewer employers planning to step up recruitment in the next three months, according to a poll by Manpower.FILE PHOTO - 639 words
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Article419 2006-06-13 2 Increased recession risk for S'pore in Q3 f says Citigroup ADDING to its recent work on the stock market as a leading distress signal, Citigroup's in-house indicator points to an increased risk of recession in the Singapore economy in the upcoming third quarter. But the odds are still419 words
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Article, Illustration538 2006-06-13 2 DONALD URQUHART - By DONALD URQUHART [SINGAPORE] In a surprise announcement yesterday, Neptune Orient Lines (NOL) said group president and CEO David Lim will be leaving the helm of the world's ninth largest container shipping company within the next six months. InFILE PHOTO - 538 words
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Article, Illustration575 2006-06-13 3 ANNA TEO - This is up from 'negligible', due to recent sharp stockmarket drop By ANNA TEO [SINGAPORE] Adding to its recent work on the stock market as a leading distress signal, Citigroup's in-house indicator points to an increased risk of recession in theSource: Singapore Department of , CBC, Citigroup; FILE PHOTO - 575 words
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568 2006-06-13 3 AFP, Bloomberg [BASLE] International investors are turning en masse towards government bonds and abandoning the stock market in search of safe investments, the Bank for International Settlements (BIS) said in its quarterly report published yesterday. After the worldwide turn in the stock marketAFP,; Bloomberg - 568 words
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Page 2 Advertisements
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Advertisement377 2006-06-13 2 Equity Derivatives Equity investments beyond the share certificate Dates Equity investments nowadays constitute more than a mere purchase and sale 13 &14 July 2006 of a single stock/share. With globalisation and demutualisation, the doors are 9 00am to 5 00pm now °P en f° r new investment and hedging avenues377 words
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Advertisement9 2006-06-13 2 people Roaming Asia-Pacific. Www thepeopleatwork com Asia-Pacific Executive Search9 words
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Advertisement113 2006-06-13 3 Essglobal Carly Fionna J3&9 leaders MB presents and Tom Peters n| H leadership W| H 81l ss|k diaL c S^.v '•■W||^'^ l y >%' /rBWW x °\^B BjHßjaasaa^fjp^BaiFiv„. Jfi x >■•-.* v >. j VH I jH Two oftne world's foremost experts on Be inspired by one of the world's113 words
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Advertisement25 2006-06-13 3 M MB if I a B| I pKMf KfH K V 1 s m m k idfcl- \v -"^SRI*HI n uwm?> ->% i if I 125 words
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COMPANY NEWS
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Article, Illustration572 2006-06-13 4 RONNIE LIM - SembCorp's US$l.306b tender is 5% higher than Suez's bid By RONNIE LIM SEMBCORP Utilities has again outbid its French rival Suez Tractebel this time in the final re-tender for a US$l.7 billion power and desalination project in Abu Dhabi. Based on the latestFILE PHOTO - 572 words
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Article828 2006-06-13 4 SIOW LI SEN - HOCK LOCK SIEW By SIOW LI SEN ADDVALUE Technologies, a penny stock which has quite a wide following, has explained at length the reason for its dismal results for the year ended March 31 after being queried by the Singapore Exchange (SGX). It had last828 words
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336 2006-06-13 4 UMA SHANKARI - By UMA SHANKARI CHINA-based property developer Sunshine Holdings is not too worried about new steps taken by the Beijing government to deflate the country's bubbling property market. In fact, Sunshine, which was listed on the Singapore Exchange in March, reckons336 words
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723 2006-06-13 5 PAULINE NG - It takes up a 80,000 sq ft store at The Gardens mall in KL's Mid Valley By PAULINE NG in Kuala Lumpur ROBINSONS will be returning to Malaysia after an absence of more than 30 years, opening a store in what is set723 words
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314 2006-06-13 5 Wee Li-En - By Wee Li-En SINGAPOREAN banks should start small in China and gradually increase their stakes over time, David Marshall, managing director at Fitch Ratings, said. Going slow would give foreign banks time to gain expertise in risk management in314 words
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263 2006-06-13 5 Reuters SINGAPORE'S DBS Group Holdings is the most likely among the country's three local banks to pursue a big acquisition, a director at credit ratings agency Fitch said yesterday. DBS is Singapore's top bank by stock market value andReuters - 263 words
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COMPANY BRIEFS
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79 2006-06-13 5 NETHERLANDS PGGM has raised its stake in Fortune Reit to 7.42 per cent from 2.93 per cent, ARA Asset Management, manager of the Reit, said. PGGM bought 23.55 million Fortune Reit units between June 8 and 9, 2006, making it the second largest79 words
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89 2006-06-13 5 KEPPEL Telecommunications Transportation Ltd (KT&T) said it plans to invest 559.9 million in cash for a 35 per cent stake in Wuhu Annto Logistics Company to boost its logistics services in China. The purchase through wholly owned subsidiary Keppel Logistics Pte Ltd89 words
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774 2006-06-13 5 SWATI CHAUDHARY - By SWATI CHAUDHARY A WOMAN from a local brokerage has outdone the boys to be named top stock picker for Singapore and Malaysia for 2005 by USbased rating firm Star Mine the honours this year have gone to Jesvinder Sandhu of DBS774 words
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Advertisement1764 2006-06-13 4 sats one with you SINGAPORE AIRPORT TERMINAL SERVICES LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****1770G NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 33rd Annual General Meeting of the Company will be held at Mandarin Court, 4th Floor, Grand Tower, Meritus Mandarin Singapore,1,764 words
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Advertisement129 2006-06-13 5 Releasing your financial results? Call 1800 289 8822 or email notiees@sph.eom.sg f to book your financial results in our newspapers now.| A A the opportunity to attend workshops led by some of business leaders in Asia. However, there are a limited number the best global business minds and academics. And129 words
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SINGAPORE MARKETS
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Article, Illustration544 2006-06-13 6 TEH HOOI LING - STOCKS No clear trend seen for next 2-3 months but downside could be limited given scale of recent correction TEH HOOI LING Senior Correspondent AFTER the drubbing last week, Asian markets continued to be under selling pressure in the morning sessions yesterday but somehowSource: Bloomberg - 544 words
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Article, Illustration1021 2006-06-13 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Jun 12 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy I Shares Per Before Stock Pate Director Sen '000 Shr ('000) 000) Adv Integrated Mfg 9-Jun-06 TanKimYong *Buy 359 na *****8 21.29 JelCorp 9-Jun-06 Curtis Jerry Montgomery *Buy 2001,021 words
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Article, Illustration870 2006-06-13 6 UMA SHANKARI - Compiled by UMA SHANKARI Seksun Corporation June 12 dose: 31.5 cents KIM ENG RESEARCH, June 12 SELL-OFF leads to price drop: Seksun's share price has dipped more than 10 per cent since reporting Q2 results that matched market expectation. This is lower than when we upgraded the stock atSource: Bloomberg - 870 words
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Article, Illustration528 2006-06-13 6 LARRY WEE - CURRENCIES LARRY WEE Senior Correspondent THE US dollar extended its rally last week with the help of two supportive numbers last Friday, but another superb jobs number in Canada made its currency the day's top gainer overall. In particular, traders reported that weakerSource: Reuters - 528 words
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COMPANY NEWS
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493 2006-06-13 7 ARTHUR SIM - MetroProp (China) offering 60m vendor shares in Shui On Land IPO By ARTHUR SIM METRO Holdings subsidiary Metro Prop (China) is hoping to raise as much as $93 million by selling its shares in Hong Kong property developer Shui On493 words
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Article293 2006-06-13 7 GEORGE JOSEPH - By GEORGE JOSEPH PORTEK International has clinched another port operating concession in the fastgrowing Mediterranean region a 30-year deal to operate a multi-purpose terminal at Malta's Port of Valletta. The Singapore-based port operator and equipment provider will run the port through its newly incorporated 55293 words
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202 2006-06-13 7 GEORGE JOSEPH - By GEORGE JOSEPH ASL Marine Holdings' wholly owned subsidiary ASL Shipyard has won contracts worth $81.3 million for the construction of nine vessels for customers in Europe and the region. The newbuildings include anchor-handling tug supply vessels (AHTS), a platform supply vessel202 words
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661 2006-06-13 7 TEH HOOI LING - Reverse takeover will see listing of palm oil business By TEH HOOI LING EZYHEALTH Asia Pacific has received in-principle approval from the Singapore Exchange for the listing of 21.5 billion new shares, paving the way for Wilmar Holdings Pte Ltd (WHPL) to list661 words
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Page 7 Advertisements
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Advertisement208 2006-06-13 7 WHY YOU MUST ATTEND Expand your contacts with industry players from over Synergistic creation of business opportunities between 40 countries regions and 500 participating companies industrial end-users, buyers and sellers Visit international pavilions from China, Germany, India, Source from an international range of products, equipment Italy, Korea, Malaysia, Singapore, Thailand208 words
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Advertisement171 2006-06-13 7 SPIRE SPIRE INVESTMENT HOLDINGS LIMITED (Company Registration No. *****1954N) (Incorporated in the Republic of Singapore on 14 February, 2006) An opportunity to invest in the growing Indian Real Estate Sector Invitation in respect of an initial public offering of 35,000,000 "A" ordinary S$ shares at an offer price of S$1.00171 words
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S'PORE ARTS FESTIVAL
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Article, Illustration917 2006-06-13 8 PARVATHI NAYAR - AL KASABA THEATRE CINEMATHEQUE By PARVATHI NAYAR PALESTINIAN production The Wall opens tonight in Singapore, after being seen in Tokyo, Tunisia and the Palestinian Territories. But the man behind it emphasises that The Wall is not fiction. "We're not here to make a politicalZAOBAO - 917 words
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Article, Illustration576 2006-06-13 8 JURENA CHAN - COLLEGIUM VOCALE GENT By JURENA CHAN THE zest that Thomas E Bauer has for music seems boundless. Though he has 120 concerts lined up for this year about one in three days the professional baritone singer who has built up a reputation as a singer576 words
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Article, Illustration603 2006-06-13 8 CHEAH UI-HOON - FORWARD MOVES By CHEAH UI-HOON IN the move to create more platforms for local contemporary dance in Singapore, Forward Moves is certainly a laudable step forward. It allowed four choreographers to present a piece each with no specific theme other than to showcase what best603 words
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Advertisement13 2006-06-13 8 llTitn Lianhe Zaobao H I ftffiapitiisi I I *NB3ttC I I ntHmrnm I13 words
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SINGAPORE NEWS
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Article, Illustration495 2006-06-13 9 WEE LI-EN - Case originated in dispute between Oakwell and Canadian partner By WEE LI-EN A CANADIAN court has thrown out an appeal by a Canadian company in a protracted commercial dispute with Singapore company Oakwell Engineering. The appellants' claims of bias in theFILE PHOTO - 495 words
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461 2006-06-13 9 NANDE KHIN - By NANDE KHIN PRIME Minister Lee Hsien Loong arrives in the Australian capital, Canberra, today on an eight-day official visit to Australia and New Zealand to renew and strengthen ties with the leaders of the two countries. It is his first official visit461 words
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SINGAPORE ROUNDUP
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82 2006-06-13 9 AN agreement between the Singapore government and the government of the Slovak Republic for the avoidance of double taxation and the prevention of fiscal evasion came into force yesterday, following the completion of the ratification process. Its provisions will have effect on income derived82 words
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74 2006-06-13 9 A DELEGATION of French parliamentarians from the France-Singapore Friendship Group, led by its president, Bernard Depierre, met Minister for Foreign Affairs George Yeo yesterday afternoon. Both sides noted the close relations between Singapore and France and exchanged views on issues of mutual interest. Mr74 words
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130 2006-06-13 9 MORE than 50 industry members will be brought together to be part of a Workforce Development Agency initiative to develop Workforce Skills Qualifications (WSQ) for the human resources (HR) profession. A Manpower Skills and Training Council (MSTC) of HR professionals has been formed130 words
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Article, Illustration36 2006-06-13 9 Media Walkers, a new outdoor media platform from Singapore Press Holdings Media, took to the streets yesterday with LCD screens attached to their stomachs, flashing ads for Nokia's latest NBO handphone. KENNETH KOHKENNETH KOH - 36 words
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284 2006-06-13 9 Xinhua SINGAPORE'S Minister of Foreign Affairs George Yeo yesterday reiterated the city state's adherence to its one-China policy. "From the very beginning, we have had a oneChina policy which reflected the historical feelings of the Singapore people and the role they playedXinhua - 284 words
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575 2006-06-13 10 SWATI CHAUDHARY - Hikes in oil prices, household debt and interest rates cited; bird flu risk too By SWATI CHAUDHARY GLOBAL finance firm Lehman Brothers has downgraded its 2006 growth expectations for East and South-east Asian nations, except for Singapore, China and Hong Kong.575 words
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Article271 2006-06-13 10 EZYCASH, the personal loan scheme offered by GE Money in collaboration with Sing Post, has been named Best Consumer Credit Product at the 2006 Asian Banker Excellence in Retail Financial Services Awards. "We are proud to have pioneered this partnership with Singapore Post to serve the271 words
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371 2006-06-13 10 JENNANI DURAI - LTA's age limit hike to benefit 293 drivers this year By JENNANI DURAI TAXI drivers in Singapore will now be allowed to work until the age of 73 provided they are deemed fit enough. The Land Transport Authority (LTA) announced371 words
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316 2006-06-13 10 BRYNA SIM - By BRYNA SIM PUB's business subsidiary, Singapore Utilities International (SUI), has been awarded a consultancy contract worth $1.6 million by Saudi Arabia's Ministry of Water and Electricity (MOWE). Saudi Arabia also expects to invest some US$l6 billion over the next316 words
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Page 9 Advertisements
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Advertisement638 2006-06-13 9 :*AT^ NOTICES Toll free: 1800-289-8822 Email com sg BJV IT-SE.L IT-FIND IT IN THE MATTE* OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF AQUAGEN (SINGAPORE) PTE LTD (IN CREDITORS' VOLUNTARY LIQUIDATION) (CO. REG. NO. *****1559 M) NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies638 words
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Advertisement304 2006-06-13 9 IN THE MATTER Of THE COMPANIES ACT, CAP. 50 AND IN THE MATTER Of EX DEVELOPMENTS PTE LTD (PROVISIONAL LIQUIDATORS' APPOINTED) (Company No. *****1559*) NOTICE OF CREDITORS' MEETING PURSUANT TO SECTION 296 OF THE COMPANIES ACT, CAP. 50 NOTICE IS HEREBY GIVEN that pursuant to Section 296 of the Companies304 words
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Advertisement241 2006-06-13 9 Are you running YOUR BUSINESS, OR IS YOUR BUSINESS RUNNING YOU? "ARE YOU WORKING TOO HARD AND GETTING TOO LITTLE IN RETURN?" "IS YOUR COMPETITION LEAVING YOU BEHIN P OR STEALING YOUR MARKET-SHARE?" "DO YOU NEED MORE BUSINESS, MORE CUSTOMERS. MORE BOTTOM UNE PROFITS?" "GOT TWO HOURS?" The 'World's #1241 words
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Page 10 Advertisements
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Advertisement243 2006-06-13 10 No two chicken dishes ever taste alike, such is the versatility of the meat. You won't be disappointed with this month's healthy poultry creations. Hailing from the Provence of France is Coq Au Vin (stewed chicken in red wine); go continental with braised chicken with creamy white wine sauce or243 words
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SME spotlight
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Article, Illustration1404 2006-06-13 11 GRACE CHONG, SIM PING KHUAN - Keeping abreast with technology helps local SMEs stay competitive in the print industry, says GRACE CHONG and SIM PING KHUAN GRACE CHONG, SIM PING KHUAN THANKS to Craft Print's new computer-to-plate (CTP) technology, entire books can now be sent effortlessly from faraway locations through PDF1,404 words
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Article304 2006-06-13 12 TEH HOOI LING - By TEH HOOI LING ONLY two of the stocks in our small-cap portfolio were spared in the market rout last week. The biggest loser was Magnecomp, which issued a profit warning. The disk-drive component maker said lower-than-projected revenue from its data storage subsidiary Magnecomp Precision Technology,304 words
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Article, Illustration883 2006-06-13 12 NANDE KHIN - CEO Thye Kim Meng tells NANDE KHIN Darco will be kept busy enough with China and Taiwan for the time being NANDE KHIN Darco water Technologies does not believe in spreading itself too thinly. So for the next few years, it is concentrating883 words
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Article, Illustration765 2006-06-13 13 JAMIE LEE - Revenue hits US$5m, tripling in 4 years since firm's start-up, reports JAMIE LEE JAMIE LEE R3 ASIA PACIFIC marketing consultancy is like any coach yelling from the sidelines at a World Cup match this June. The difference, however, is that it wants both teams765 words
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Article5780 2006-06-13 13 UNIT TRUSTS FUNDS ACMGI Amer Income B USD 8.44/ ACMGI Amer Income A EUR 6 68/ ACMGI Amer Income B EUR 6.68/ Amro Asset Mgt (S para) ACMGI Eirop Income Opp AT SGD 15.13/ Star Europe Eq«y! 0.89& ACMGI Europ Income Opp BT SGD 15.13/ Slar Europe Bond 1.175/ AC5,780 words
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Page 11 Advertisements
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Advertisement86 2006-06-13 11 M IB 1 •»*■<«*'"a** tH before »n r |1 a aiWIkHMMI li IMH SI MM* i. I T M: Enhance your corporate image with SPH newsreports or features onyoiJKompany. (fwiwriiig Widely regarded as the definitive source for incisive business analyses and accurate industry reviews, we could help strengthen your communication86 words
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Advertisement16 2006-06-13 12 Our partners: K Sing Tel Star Hub (Sji ttflP Singapore Press Holdings 1 life. liv. it.16 words
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Page 13 Advertisements
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Advertisement33 2006-06-13 13 If* AllianzGI RCM Global Twin-Focus Fund .1 fund that offers you twin benefits Allianz (ill) I pv> f of potential quarterly payouts and limits possible downside. Visit OCBC Bank for G|oba) nvest01^ I33 words
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WORLD CUP 2006
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Article, Illustration765 2006-06-13 14 MICHELLE QUAH - By MICHELLE QUAH DESPITE the unearthly hour of the broadcast, tonight's match between Brazil and Croatia will be one of the mostwatched in the group stage. Because this will be the night that some of the most burning questions of World Cup 2006 willREUTERS; AFP - 765 words
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Article, Illustration436 2006-06-13 14 AFP [STUTTGART] France look set to turn to Marseille midfielder Frank Ribery to inject new ideas into their attack when they start their World Cup challenge against Switzerland today. French newspaper L'Equipe reported that Ribery would replace the out-of-form David TrezeguetAFP; AP - 436 words
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Page 14 Advertisements
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Advertisement620 2006-06-13 14 Organised bylfie Business Times and Philips* it brings together 32 executives who have teamed up to help raise funds for Food from the Heart Each executive has been assigned a team. And for every match the team plays, the executive will donate $1,000. HTogo were Impressive in ousting "Togo may620 words
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ECONOMY WATCH
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703 2006-06-13 15 Issues touching on affirmative action like award of govt contracts raised AP, Bernama [KUALA LUMPUR] The US yesterday began free trade talks with Malaysia, saying it would like more transparency in awarding of government contracts, greater imports of foreign cars andAP,; Bernama - 703 words
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Article, Illustration400 2006-06-13 15 AP [TOKYO] Japan's economy grew at a much faster pace in the first quarter than initially thought, authorities said yesterday, offering new evidence that the world's second-largest economy is making a solid comeback after a decade of stagnation. Growth in the JanuaryMarch quarterAP - 400 words
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483 2006-06-13 15 Reuters [BEIJING] China raked in a record monthly trade surplus of USssl3 billion in May, but analysts said that Beijing was unlikely to respond by allowing the yuan to appreciate more quickly. The surplus marked a jump from US$9 billion lastReuters - 483 words
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Article, Illustration537 2006-06-13 15 But bank concerned over country's handling of bird flu AFP [JAKARTA] Indonesia's economy is set to expand 5.5 per cent in the coming year, the World Bank said yesterday even as it raised concerns about the country's strategy and a funding shortageAFP; REUTERS - 537 words
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645 2006-06-13 15 Analysts cite various hawkish comments by Fed officials Reuters [WASHINGTON] For the better part of two years, Federal Reserve officials said they were lifting US interest rates simply to get them to a "neutral level" appropriate for an economy in a self-sustainingReuters - 645 words
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Advertisement366 2006-06-13 16/17 jM fflk j jjjjf ESNAAD. The two ABS Class Anchor Handling Towing and Supply Vessels are powered by 5,1508 HP Caterpillar engines with firefighting capability and achieving a service speed of 13 knots with a 60-ton Mi *pj Batamec is committed to building quality offshore vessels that meet the demanding366 words
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MALAYSIA/INDONESIA
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398 2006-06-13 18 Malaysian PM urges countries to jointly develop new resources AP [KUALA LUMPUR] Malaysia's leader yesterday warned of a global crisis over the tussle for energy resources amid declining supply, and urged major oil producers and consumer nations to jointly develop new resources. PrimeAP - 398 words
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141 2006-06-13 18 AP [KUALA LUMPUR] Malaysia's national oil company Petronas said yesterday it expects to decide by the third quarter this year whether to proceed with a US$2 billion joint venture in Iran to develop the world's largest offshore gas field. PetronasAP - 141 words
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Article2338 2006-06-13 18 VOL General Corp 0.54 -0.01 10 Jun12 RM COOO) Gentinq 22.30 -0.30 460 George Kent .0.47 -0.01 302 ASM Realty 1.35 unch 0 GHL Systems .0.19 -0.01 1786 Aboc .034 unch 0 Globetronics Tech 0.31 unch 105 ACP Industries 0.80 -0.01 28 GlomacBhd 1.18 unch 54 Advance Synergy2,338 words
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Article, Illustration711 2006-06-13 18 SHOEB KAGDA - Some praise from World Bank with reminder of huge challenges INDONESIA INSIGHT But country's infrastructure, poverty, jobs problems far from solved SHOEB KAGDA Jakarta Correspondent FIRST, the good news: Indonesia's economy, the World Bank notes in its annual brief to the Consultative Group on Indonesia (CGI) meeting this week, is711 words
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398 2006-06-13 18 Reuters [KUALA LUMPUR] Indonesia has approved the development plan for the US$2.6 billion Cepu oilfield, allowing work on the Opec member's biggest untapped discovery to begin after years of delay, the head of Pertamina said yesterday. "The development has been approved, we are proceedingReuters - 398 words
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Article, Illustration423 2006-06-13 18 Reuters [JAKARTA] An Indonesian lower court ruled yesterday that prosecutors should press on with graft charges against ex-president Suharto, which had been dropped by the attorney-general because of the former leader's poor health. But a spokesman for the attorney-general's office said itReuters; REUTERS - 423 words
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BRIEFLY ASIA
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72 2006-06-13 18 Bloomberg [BEIJING] China will allow commercial banks to set up insurance businesses and insurers to invest directly into lenders, the country's banking regulator said. "We support a more comprehensive cooperation between commercial banks and insurance companies in terms of cross-sector sales and agentBloomberg - 72 words
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59 2006-06-13 18 AP [MUMBAI] Indian shares fell sharply in volatile trading yesterday, with the benchmark index tumbling 3.4 per cent on selling in blue chips. The 30company Sensex of the Bombay Stock Exchange closed 334 points down at 9,476. On the rival National Stock Exchange, the 50shareAP - 59 words
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Article67 2006-06-13 18 Reuters [SHANGHAI] China's top banking regulator said yesterday that it might take two or three years to produce a proposal for the restructuring of debt-laden Agricultural Bank of China. The restructuring of Agbank, which has more than US$9O billion of bad loans on itsReuters - 67 words
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53 2006-06-13 18 Reuters [SHANGHAI] Index provider MSCI Barra said yesterday it would launch two new indexes to track China's A-share market, the fourth largest in the Asia-Pacific region. The indexes would be based on the firms' global value and growth methodology, it said inReuters - 53 words
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43 2006-06-13 18 Reuters [KUALA LUMPUR] Malaysian junior telecoms firm Green Packet Bhd plans to sell a 10 per cent stake to the Saudi Economic and Development Company (SEDCO) for an expected RM90.7 million (5541.1 million). ReutersReuters - 43 words
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GREATER CHINA/INDIA
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505 2006-06-13 19 Proposed moves include permitting short selling by institutional investors The Economic Times [MUMBAI] The Securities and Exchange Board of India (Sebi) and the Indian government are close to unveiling a set of policy moves aimed at curbing volatility and enhancing liquidity in theThe Economic Times - 505 words
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383 2006-06-13 19 Reuters [SHANGHAI] Chinese heavy "machinery maker Sany Corp said yesterday it aimed to take control of its larger rival Xugong, setting up a possible takeover battle with prominent US private equity firm Carlyle Group. In an agreement signed last October, CarlyleReuters - 383 words
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Article, Illustration569 2006-06-13 19 Reuters [LUXEMBOURG] Rebel shareholders in steelmaker Arcelor secured a special vote yesterday which could jeopardise the firm's plans to merge with Russia's Severstal and boost a rival takeover bid by Mittal Steel. Arcelor will allow its management to meet with Mittal about itsReuters; REUTERS - 569 words
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614 2006-06-13 19 Reuters [SHANGHAI] Bank 1 of China, which raised US$ll.2 billion in a Hong Kong share sale last month, yesterday launched China's biggest domestic IPO, saying it would list on the Shanghai Stock Exchange before July 5. China's top foreignReuters - 614 words
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154 2006-06-13 19 Reuters [MUMBAH India's state-run Oil and Natural Gas Corp will not cut spending on foreign acquisitions even if it has to bear a higher subsidy burden, acting chairman R S Sharma said yesterday. He was responding to a comment by Oil Secretary MReuters - 154 words
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587 2006-06-13 19 Move will address issue of state-owned mainland stocks [HONG KONG] HSI Services, which manages the Hang Seng Index, is likely to adopt a method that measures the free-float level of stocks when it revises the index to include mainland companies, the587 words
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370 2006-06-13 19 Bloomberg [HONG KONG] Sunlight Real Estate Investment Trust, backed by tycoon Lee Shaukee, shelved its Hong Kong initial public offering of about US$5OO million after shares of competing companies fell, said two people familiar with the decision. Sunlight Reit, the owner of office and retailBloomberg - 370 words
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AVIATION
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Article, Illustration707 2006-06-13 20 Analysts say the industry does not require foreign capital to move forward Reuters [WASHINGTON] A BUSH administration plan to ease restrictions on foreign investment in US airlines could help a struggling industry, but analysts and consultants say there is plenty of money atReuters; REUTERS - 707 words
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492 2006-06-13 20 Bloomberg [NEW DELHI] Shares of Deccan Aviation Ltd, India's biggest low-fare carrier, plunged 33 per cent on the first day of trading on investor concern growing competition will prevent the airline from becoming profitable. Deccan Aviation shares fell to 98.85 rupees on theBloomberg - 492 words
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273 2006-06-13 20 Dominant air cargo operation may result from merger AP [HONG KONG] Hong Kong Air Cargo Terminals Ltd, or Hactl, has said the merger between Cathay Pacific Airways Ltd and Hong Kong Dragon Airlines Ltd may hurt airlines, cargo terminal operators and freight forwarders. CathayAP - 273 words
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LOG BOOK
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83 2006-06-13 20 AFP [PHNOM PENH] Cambodia has approved plans for an international airport in the coastal city of Sihanoukville, officials said yesterday, hoping that expanding the resort's ageing air hub will boost tourism. Soy Sokhan, an undersecretary of state for civil aviation, said the new airport wouldAFP - 83 words
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89 2006-06-13 20 AFP [YANGON] Myanmar's military government has agreed to allow privately owned Air Bagan to begin flying to neighbouring Thailand and China starting from October, an airline official said yesterday. "We have received clearance for direct flights to Bangkok and China starting in October.AFP - 89 words
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79 2006-06-13 20 Reuters [OSLO] The head of the Norwegian arm of Scandinavia airline SAS, Petter Jansen, is being fired by the airline, Norwegian daily Verdens Gang (VG) reported on Sunday. Officials at Norway's SAS Braathens declined to comment. Mr Jansen, 51, has led SAS BraathensReuters - 79 words
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Article2253 2006-06-13 20 err* FLIGHT ETA FLIGHT CTD SQ493 0735 EK433 0300 911 EK404 1405 EIC3S2 2225 AMMt LH9771 1750 AF8088 2215 E "J| 2335 ***** 1750 BA7382 2215 IS52 ***** 2335 AF8087 1850 Of82 2215 432 "SI \l£ 2345 FSSfiS MS LH6765 1350 i QF81 1g?9 2015 LH97622,253 words
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Page 20 Miscellaneous
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Miscellaneous197 2006-06-13 20 CRYPTIC CROSSWORD 24 Attempt .mn.. time worker (4) 7 Earliest bothersome strife cur- YESTERDAY S SOLUTION IloiAiN tailed (5) Across: 11nterchangeable, 9 Insid--13 Creakiest crazy performer at e r, 10 No-hoper, 11 Listening, 12 1 It's found at top of pole or t h e r ink (3-6) Rhone, 13197 words
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SHIPPING
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525 2006-06-13 21 DONALD URQUHART - Crew members face violence, virtual forced labour, long working hours: ITF By DONALD URQUHART [SINGAPORE] A new report by global union, the International Transport Workers' Federation (ITF), has warned of the "hidden horror" of routine human rights abuses of seafarers due to systemic525 words
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138 2006-06-13 21 Bloomberg [LONDON] Carnival Corp, the world's largest cruise operator, ordered two cruise ships valued at 750 million euros (Ssl.s billion) that it will base at Italian and German ports to take advantage of European lei-sure-travel growth. Carnival ordered a 92,700-ton ship fromBloomberg - 138 words
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Article, Illustration698 2006-06-13 21 NEWS ANALYSIS US bid bound to trigger political soul-searching [LONDON] The vast majority of British ports including Southampton, Immingham and Port Talbot are poised to fall into foreign hands with an agreed bid from a consortium led by American bankers Goldman Sachs closeBLOOMBERG - 698 words
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Article277 2006-06-13 21 sgx aMK 000 Mm 12 St Vol CH Offshore 0.34 -0.01 87 ChuanHup 0.31 unch 330 Cosco Corporation 1.24 0.02 5129 CWT Distribution 1.20 0.04 Ezra Hldgs 0.23 727 Freight Links 0.06 unch 13 Grand Banks Yacht 0.88 -0.02 2 Jaya Holdings 1.27 unch 610 K1 Venture 0.32277 words
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217 2006-06-13 21 Bloomberg [SEOUL] Hyundai Heavy Industries Co, the world's largest shipbuilder, said its 18.4 per cent stake in South Korea's largest shipping company will be diluted, after it agreed to buy new shares sold by Hyundai Merchant Marine Co. Hyundai Heavy will pay 61.9 billion wonBloomberg - 217 words
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Page 21 Advertisements
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Advertisement111 2006-06-13 21 1 '4X4 1 v\' -A %"4<%■ \4 i« 5 .'lk ft' iahWli!idgHl>UJ:l<ilV»lll:ldlMlJliii WORLDWIDE. FROM AIR AND OCEAN FREIGHT THROUGH VALUE-ADDED SERVICES TO SUPPLY CHAIN MANAGEMENT. i.-:-* 4 MM _____jßi I I I BBBP I I I I H H H I W H H J H H H mm I111 words
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EDITORIAL & OPINION
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Article545 2006-06-13 22 EDITORIAL WHENEVER stock markets surge at an explosive pace, as the Indian stock market has done over the last three years, a pause, even at the levels that the Mumbai Sensitive Index has experienced in recent weeks, is healthy. Hard as investors may find a 25 per545 words
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Article, Illustration1273 2006-06-13 22 EDMUND L ANDREWS - He knows how to send a signal to the market about the Fed's intentions in his own way By EDMUND L ANDREWS NYT HE DID not coin a catch phrase like "irrational exuberance" or use a code word like "measured" or "patient" to telegraph hisNYT; REUTERS - 1,273 words
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Article, Illustration772 2006-06-13 22 WILLIAM PESEK JR - THE BOTTOM LINE WILLIAM PESEK JR Bloomberg SURPRISE interest rate increases in South Korea and India last week were reminders of an inconvenient truth: The era of easy money in Asia is over. In recent years, Asian central bank policiesBloomberg - 772 words
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Article, Illustration954 2006-06-13 23 THANG D NGUYEN - Frequent demonstrations in Jakarta are nitting business and investment By THANG D NGUYEN EIGHT years ago, demonstrations were a part of a movement that forced strongman Suharto out of power and ushered democracy into Indonesia. But now, they have become a nuisance to society andAFP - 954 words
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Article, Illustration1044 2006-06-13 23 PAUL J LIM - By PAUL J LIM NYT THE recent market sell-off, which has already shaved more than 700 points off the Dow Jones industrials, may have come as a bit of a surprise. But the real shock, for those investors who haven't been paying attention lately,NYT; REUTERS - 1,044 words
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105 2006-06-13 23 Winston Chin Fook Min Singapore - LETTERS TO THE EDITOR Winston Chin Fook Min Singapore I REFER to the letter "How about Fu Lu Shou'?" by Narayana Narayana (BT, June 8). I disagree completely with Mr Narayana's suggestion to replace the dialect rubric of the Hock Lock Siew column with105 words
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216 2006-06-13 23 G N Setty Australia via Internet - G N Setty Australia via Internet I REFER to the letter "How about Fu Lu Shou'?" By Narayana Narayana (BT, Jun 8) I have often complained in these columns about the lethargy of most Singapore companies in paying promised dividends/capital distributions. Nothing216 words
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ASIA-PACIFIC/WORLD
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Article, Illustration613 2006-06-13 24 Regulatory hurdles mean domestic tie-ups easier than cross-border deals Reuters [HONG KONG] Asian stock exchanges are looking to bulk up but government controls and regulatory hurdles mean they are unlikely to get swept away by a takeover wave hitting European andReuters; AFP - 613 words
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651 2006-06-13 24 Bloomberg [LONDON] From the London Pensions Fund Authority (LPFA) to the California Public Employees' Retirement System (Calpers), the world's biggest investors are having second thoughts about buying commodities. "It's a dilemma we are facing," said Peter Scales, 57, chief executive of the £3.5 billion (5510.3Bloomberg - 651 words
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278 2006-06-13 24 [LONDON] UK company bosses make an average of £500,000 (Ssl .5 million) by listing their firms on the London Stock Exchange, said a report in The Guardian, citing a survey that was due to be published yesterday. A study of the278 words
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323 2006-06-13 24 Reuters [LONDON] Britain's financial watchdog said yesterday that, following talks with US counterparts, it did not think US regulations would apply to UK-listed firms if the London Stock Exchange was bought by a US rival. However, Britain's Financial Services Authority (FSA) saidReuters - 323 words
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412 2006-06-13 24 Reuters [LONDON] Insurers are set to go the way of travel agents in the next decade, selling most of their policies directly at the expense of the traditional providers that currently dominate the market, according to consultants Deloitte. In a report publishedReuters - 412 words
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371 2006-06-13 24 Reuters [HANOI] Saigon Thuong Tin Commercial Bank (Sacombank) Vietnam's first bank licensed to list— said yesterday it would make its stock debut on July 12, a move that is expected to single-handedly boost the stock market's value by more than half.Reuters - 371 words
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WORLD WATCH
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116 2006-06-13 24 Reuters [SEOUL] South Korean prosecutors detained former finance ministry official Byeon Yang Ho for his role in Hyundai Motor Co's bribery scandal, extending probes that have led to the arrest of the head of the country's largest carmaker. Byeon allegedly received bribes fromReuters - 116 words
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79 2006-06-13 24 Reuters [DUBAI] Dubai yesterday opened the Middle East's first currency futures exchange in a bid to establish the emirate as a currency trading hub between London and the Far East. The Dubai Gold and Commodities Exchange said September euro-dollar futures were trading at 1.2681 at 1024Reuters - 79 words
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86 2006-06-13 24 Reuters [LONDON] Media tycoon Rupert Murdoch is in talks with Liberty Media Corp about buying back the 18 per cent stake Liberty holds in his News Corp, the Financial Times said on Sunday in its Internet edition. "We have had discussions with NewsReuters - 86 words
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Article10766 2006-06-13 25 SGX MAINBOARD 52-tNk Tal Last Vol Day Last Quote GrOiv Div GrYId Net MCap High Low Code Company Sal* COOP) High Low 8uyor Sailor Cvr P/E Smi 4.5 1 5716 1st Software 5c 2.5 unch 30 2.5 2.5 2.5 3 10.1 16 6 3148 8Telecom US2c 6 -0.510,766 words
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Page 25 Advertisements
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Advertisement36 2006-06-13 25 Trade from 20% deposit (6 x leverage) on most stocks Go long or short n nn.l utttUiA ra I«-> fit# Jl. conpwnive financing rates mas marxew Access to Asian, US, &wo stocks Competitive Commission chaiges v36 words
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Article6292 2006-06-13 26 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES tout atrt In SS tn USS tfy ft Oy %yr *dy *yr ktn9 lod*» Oxngt Chany Change Change Oianga MoW Met Preliminary 9624 06 -07 M -23 0.7 2.2 s Preliminary 955A _14 19 l| -03 t3 4.0 fjiope Preftmmafy 183,7 If -fl36,292 words
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Page 27 Advertisements
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Advertisement1998 2006-06-13 27 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination GO PRIDE RDM/ATW/BMN/TLB/NAN STXPOTBN CAM/NFK/SAV/NOL YOU YA VCW/lAX/MZL Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE F.E./S.E.A. SERVICE Destination DOMINATOR ADN/HDD/JDH/AQA Destination PAN DYNAMIC DBI/ABU/DOH/NRN/DMM/KWT STX FO TBN INC/BSN ASEAN PREMIER DBI/ABU/DOH/BRN/DMM/KWT BEL ANNA DBI/ABU/DOH/BRN/DMM/KWT Loads Singapore. E./W. Malaysia, Indonesia1,998 words
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Advertisement767 2006-06-13 27 vOOv WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobal.com Yissa VOT RAMP HEIGHT SIN IK MAO SAY Ml 0«f TARONGA AF6I9 3201 ms 6.25 M 25/06 20/07 29/07 02/01 07/01 05/08 TAMESIS Aft 20 3201 ms MM 04/07 30/07 01/01 12/01 16/00 14/01 TAMTA AE42I 4201— 14M 14/07 09/08 18/08 22/0» 26/08 24/767 words
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Page 28 Advertisements
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Advertisement822 2006-06-13 28 WAN HAI INTERNATIONAL PTE LTD ®NO **********0/R VvSTSWAN HAI LINES A Pltl IE: (03) *****«U HUL (03) IM2J2M PW TH: (04) *****00 HUL (04)2296»<N V JOHIH; (07) 2JI»923HUt(O7)2SIS«IS«Te; (031) *****75 HUb (031) *****14/ *****05 WWW.Wanhai.COm.SQ KTHL (021) ***** M tt* (021) ***** M put IB: *****0/*****1 FAX: *****9 n. 1H:822 words
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Advertisement1298 2006-06-13 28 IVESSEL Ivor I PKI I SIN I KARACHI PXB BAB NHS DMM BIK KHOR IRAN KOROCSTAN PCL 8141 13/06 14/06 23/06 26/06 27/06 02/07 05/07 07/07 IRAN SHAHRYAR PCL 1142 22/06 23/06 02/07 05/07 06/07 12/07 14/07 16/07 IRAN SAABAII PCL 8144 01/07 02/07 11/07 14/07 15/07 21/07 23/07 25/071,298 words
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Advertisement890 2006-06-13 28 WEEKLY EXPRESS SAILING SCHEDULE I" ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS I VtSStL VOT SIN MIANG (OIOWIO N.SWVA IotQKQ I IMDIItA GAMDHI CIO4W 111 MJUM ILUM 21JUH 25 JUH ZJ KUIV GANDHI OIO4W 72 JUN OMIT QMIT ?8 JUH 02 J|)t 1 jtottftuwiu |mww7l ii jul |I?890 words
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THE BUSINESS TIMES SHIPPING TIMES
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5636 2006-06-13 29 This ETA ETA Advertiser Vessel Woyjje Telephone ETA ETA XNerfeer Vessel Voyge ET SIN Desfn Name Name Number Number SIN Destn Name Name Number Number SN To DUNKIRK (DUK) 2117 France To ABIDJAN (ABJ) 2003 Cote D'lvoire 2 7/06 02/08 NGPI mahinabank SP198 *****2885,636 words
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PROPERTY
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Article, Illustration341 2006-06-13 30 Home inflation accelerating in England, Wales; slowing in Scotland Bloomberg [LONDON] UK house prices rose at the fastest pace in almost a year in April, adding to evidence of a revival in the US$6 trillion residential property market, a government report shows.Bloomberg; BLOOMBERG FILE PHOTO - 341 words
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220 2006-06-13 30 Reuters [LONDON] Commercial property development in London accelerated at its fastest rate in more than two years in May, but the overall rate of growth in British activity was its slowest so far this year, data yesterday showed. Mat Oakley, Savills' head ofReuters - 220 words
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273 2006-06-13 30 Reuters [LONDON] London Merchant Securities (LMS) posted an annual after-tax profit up 171 per cent yesterday, the same day its investment arm is to be separately listed, and said it was well placed for a future focused entirely on property. TheReuters - 273 words
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Article, Illustration312 2006-06-13 31 It will build homes for middle-income people in several cities Bloomberg [DUBAI] Emaar Properties PJSC, the largest Arab real estate company by market capitalisation, said it will expand construction projects in Syria as demand for homes in the Middle East's fifth most-populous Arab countryBloomberg; FILE PHOTO - 312 words
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Article, Illustration369 2006-06-13 31 Reuters [WELLINGTON] Annual growth in New Zealand house values slowed for the fourth straight month in May and further consolidation in the once-robust property market is expected, government agency Quotable Value (QV) said yesterday. The Quotable Value house price index rose 12.4 perReuters; BLOOMBERG - 369 words
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Article, Illustration481 2006-06-13 32 KALPANA RASHIWALA - Reserve-list site at Unity St 'triggered' just 3 weeks after site was available By KALPANA RASHIWALA THE Urban Redevelopment Authority (URA) yesterday said it has accepted a successful application from a developer for a reserve-list hotel site at the corner of481 words
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Article, Illustration265 2006-06-13 32 Reuters [BEIJING] China could issue new rules governing foreign investment in the frothy property sector as early as this month to curb speculative flows, government officials said yesterday. The new rules, likely to consist of tax and administrative measures, could be released by China'sReuters; AFP - 265 words
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Page 30 Advertisements
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Advertisement357 2006-06-13 30 IRE Debenham Tie Leung m FREEHOLD V 12-STOREY OFFICE x kit BUILDING AT m m ROBINSON ROAD /nffflH'; FOR SALE TENDER Tender June 2006, B. *a' >escr 'P t on "ot m K4-***** X 2 Storey Bungalow Fairly New Freehold mBIM Prestigious and exclusive schools such as |yK |l|Ufl Nanyang357 words
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Advertisement200 2006-06-13 30 A Rare and Unique Opportunity r V\ Y1 r a e lender Habitat One Prime Ardmore Park address "O K Only property on Ardmore Park with pedestrian 'y /j|i access to Orchard Road vJ& Land Area: 5 107 9m t Z^,// ys* Freehold j Master Plan plot ratio 2.8; 36200 words
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Page 31 Advertisements
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Advertisement174 2006-06-13 31 MV Jokes Lang 8 yyJJ lasalle* J l( 8 1 /f/) I Ti MartinjoJ For Sale By Tender (located In Prime District 9) Land Area 44,477 sqft (approx) Tenure Freehold Plot Ratio 2.8, Up to Maximun Height of 15 storeys Zoning 1 plot 'Residential with commercial on Ist storey' 4174 words
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Page 32 Advertisements
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Advertisement444 2006-06-13 32 Parakou Building The ONLY brand new r office building along Good view/good natural Ijfiß Typical floor plate of iir| f' ex 'ble VRV aircon J Immediately available for Agnes Tay 6228 6887 Sebastian lim 9794 174S JuneChua 9668 2033 Agnes Heu 6228 6882 lenny Sim *****883 PRIME SHOPHOUSES AT MOHAMED444 words
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