The Business Times, 21 June 2006

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Total Pages: 32
1 32 The Business Times
  • 15 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 099/03/2006 Wednesday, June 21,2006*
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  • 708 1  -  HK's largest telco evaluating deal to sell telecom, media assets By SIOW LI SEN [SINGAPORE] Shares of Singapore-listed Pacific Century Regional Developments (PCRD) which is on the brink of being privatised surged 17 per cent to a high of 34.5 cents yesterday
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  • 711 1  -  Ambitious 10-year masterplan also sees creation of 80,000 jobs By ROLAND LIM [SINGAPORE] Singapore unveiled its ambitious 10year infocomm masterplan yesterday. It sets out to treble infocomm export revenue to $60 billion, double the industry's value-added to $26 billion, and create
    DESMOND LIM / ST  -  711 words
  • 133 1 STI 2,327.11 (-40.79) ST INDEX FUTURES 2,328.00 (-41.00) SIMSCI 277.08 (-5.23) SIMSCI FUTURES 276.40 (-6.40) MARKETS Tuesday Change KLSECOMP 889.99 >0.48 NIKKEI 225 14.648.41 -211.94 HANG SENG 15,608.9! -159.89 SET INDEX 646.78 -12.90 JAKARTA COMP 1,294.97 0.08 MANILA COMP 2.068.09 -51.70 SEOUL COMP 1,225.83 -25.84 SHENZHEN 8 281.71
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  • Page 1 Advertisements
    • 36 1 JfcL WORLD CUP 2006 The battle for pole i P° s 'tion in Group C f Sr®FWl PAGEI3 Ihei S'PORE ARTS FESTIVAL Questions necessary for our times: a review of The Necessary Stage's Mobile page 12
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    • 13 1 MOTORING Chevy sales up as second dealer weighs in PAGE 19 8 II
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    • 108 1 ■9 EXECUTIVE MONEY long-term wealth PAGE 32 S'PORE SALARIES Fbrget big pay hikes this year PAGE 4 MORE REPORTS PAGE 10 IDA gets 33 proposals for broadband network S'pore can harness IT to lead the way in finance: DBS's Jackson Tai Sing Tel to launch bite-sized Blackßerry alternative S'pore, Japan
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  • TOP STORIES
    • 652 2  -  US, China and India economies doing well; but high oil prices still a worry By NANDE KHIN in Auckland PRIME Minister Lee Hsien Loong is optimistic about Singapore's economic performance for the rest of this year as the US and China
      652 words
    • 290 2 [SINGAPORE] The Raffles Hotel group has named a new ambassador, whose previous biggest claim to fame was being a cousin of Winston Churchill. British aristocrat Lord Charles Spencer-Churchill has accepted the position of ambassador for Raffles Hotel in Singapore, alongside that of ambassador-at-large for Raffles
      290 words
    • 418 2 BOJ chief hints at 'early' rate policy changes BANK of Japan governor Toshihiko Fukui has been summoned to appear again before Parliament tomorrow. But he signalled yesterday that he would not step down due to the controversy over his personal financial dealings nor allow the affair to influence
      418 words
    • 578 4  -  Some interpret remark as paving way for an interest rate rise By ANTHONY ROWLEY in Tokyo AT THE centre of controversy over his personal financial dealings and in the hot seat over the politically sensitive issue of when to raise interest rates,
      REUTERS  -  578 words
    • 408 4  -  By ANNA TEO [SINGAPORE] Business sentiment is at a high, but the strong confidence about the outlook isn't quite reflected in companies' projected pay rises and hiring plans. Employers are not going overboard with big pay hikes and bonuses this year, a
      408 words
    • 677 4  -  By RONNIE LIM [SINGAPORE] "Houston, we are close to a go" this is the latest signal from oil giant ExxonMobil to its Texas headquarters on the plan to build a second multi-billion dollar petrochemical complex here. The project codenamed "SPT" or Singapore
      YEN MENG JIIN  -  677 words
  • Page 2 Advertisements
    • 778 2 npnn p Give yourself HCU|J C a break. Call us. www.thepeopleatwork com Asia-Pacific Executive Search jtm< «*»>,, Our partners earned approx. 27% p.a. total (after tax) on a recent resale to a REIT Secure your position in a current project now from $25 500 CAD and up I Why Canada?
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    • 383 4 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF KRUGER ELEVATION SYSTEMS PTE LTD Co. Reg. No. *****0202G (In Members' Voluntary Liquidation i NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the members of the abovenamed Company duly convened and held at 17 Tuas
      383 words

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  • COMPANY NEWS
    • 588 6  -  Group seeking to buy up to 20% of the Anhui-based lender: report By CONRAD TAN MARKET observers have cast their eyes on DBS Group following a report yesterday that the Singapore banking group is eyeing a stake of up to
      588 words
    • 427 6 4 and Overseas linion Enterprise (OUE) two companies in which Kppo entities recently tiought substantial stakes yesterday announced changes to their respective boards of directors. At retailer Robinson, Tan Ngiap Joo resigned as a director from Monday. The resignation came after OCBC
      427 words
    • 478 6  -  By CONRAD TAN THE Monetary Authority of Singapore (MAS) has called on financial advisory firms from the banking, insurance and capital market sectors to improve the level of service offered by their sale representatives. MAS made the call yesterday when it disclosed the
      478 words
    • 535 6  -  HOCK LOCK SIEW By MATTHEW PHAN CHINESE ice-cream manufacturer Youcan Foods International is launching products abroad for the first time in Singapore. Its specially designed "chilli" ice cream may appeal to consumers here, but the venture begs another question. Why is a company
      535 words
    • 401 7  -  Steel stockist looks set to benefit from rising steel prices By OH BOON PING STEEL stockist HG Metal looks set to post stronger results in the second half of FY2006, thanks to rising steel prices. Since March this year, prices of steel have
      401 words
    • 291 7  -  By MICHELLE QUAH LABROY Marine has signed another four shipbuilding contracts worth U5554.3 million to build four vessels scheduled for delivery in 2008. The contracts bring rig and shipbuilding orders clinched by Labroy in the first six months of the year to ***** million
      FILE PHOTO  -  291 words
    • 331 7 Bloomberg CAMBRIDGE Industrial Trust, which delayed its share sale, is "aligning" the return offered to shareholders, said Finian Tan, chairman of the trust's manager, to help attract investors after a rise in rival trusts' yields. "We are now in the process of aligning better with
      Bloomberg; FILE PHOTO  -  331 words
    • 325 9  -  It is buying Dutch firm Petroplus' 8 tank storage sites in Ruhr-Rhine By RONNIE LIM GERMANY'S largest independent oil tank storage operator Tan Quid a wholly owned subsidiary of Macquarie International Infrastructure Fund (MIIF) is boosting its storage portfolio by acquiring eight
      325 words
    • 259 9 Reuters JAYA Holdings, a Singapore shipbuilder and operator of offshore support vessels, said it will almost double its fleet by 2009 and may buy or build a new yard to boost its shipbuilding capacity. Jaya will deliver about 59 vessels, used to support offshore
      Reuters  -  259 words
    • 211 9 Reuters INDONESIA'S largest mobile phone operator, PT Telekomunikasi Selular (Telkomsel), said yesterday that it is aiming for a total of 32 to 33 million subscribers by the end of 2006. Telkomsel chief executive Kiskenda Suriahardja told reporters on the sidelines of a
      Reuters  -  211 words
    • COMPANY BRIEFS
      • 46 9 FABCHEM China said its controlling shareholders are in preliminary discussions with two parties on the potential acquisition of shares in the company. It warned that there is no certainty that any proposal, offer or transaction will result from these events.
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      • 124 9 SILVERLAKE Adaptive and Applications Continuous Improvement Services Ltd, a unit of Axis Systems Holdings, will be providing SBI Card with the technology and software solutions designed for credit card and debit card payment processing services. The contract, the first obtained in Japan, is expected
        124 words
      • 56 9 HIAP Seng Engineering has signed a sale and purchase agreement with L&M Precast (Tuas) Pte Ltd to purchase the property known as 24,28 and 30 Tuas Crescent, Singapore, together with the buildings, equipment and machinery for $5.5 million in cash, which will be
        56 words
  • Page 6 Advertisements
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    • 522 6 sats one with you SINGAPORE AIRPORT TERMINAL SERVICES LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****1770G NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the shareholders (the 'Shareholders") of Singapore Airport Terminal Services Limited (the "Company") will be held at
      522 words
    • 383 6 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 PURSUANT TO SECTION 290(2)(b) and IN THE MATTER OF SOUTHWELL PROPERTIES PTE LTD (Company No: *****0265G) (In Members' Voluntary Winding Up) The following Special Resolutions war* passed by written means by shareholders on 13th June 2006:{1) Resolved that the Company be
      383 words


  • SINGAPORE MARKETS
    • 849 8  -  CURRENCIES Think risk aversion fears in metals and stocks, messy technicals, US rate hikes LARRY WEE Senior Correspondent FOR a good part of last week, it looked as if the US dollar had resumed its downhill trajectory; it got precious little lift from
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    • 1006 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Jun 20 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy Shares Per Before After Stock Date Director Sell '000 Shr S [000) (000) ACE Dynamics 20-Jur»-06 Hendra Harjadi *Buy 148 0.21 7018 5.01 7166 5.12 LafeTech 20-Jun-06 Ho Wing-On
      1,006 words
    • 281 8  -  Compiled by MATTHEW PHAN China Hongxing Sports Jmm 20 ck»«: $1.1? KM ENG RESEARCH, Jmm 28 WE FEEL that China Hongxing (CHHS), a sports shoe manufacturer, has corrected to very attractive levels that investors can buy into for this year's growth potential. At the current price, the stock
      281 words
    • 394 8  -  STOCKS TEH HOOI LING Senior Correspondent A POSSIBLE missile test by North Korea further frayed the nerves of a market already on edge over interest rate fears, and sent stocks down across the region yesterday. The Straits Times Index tanked 40.79 points or 1.7
      394 words
    • 299 8  -  CHART POINT By YEO KEE YAN chartist at Kelive Research STOCKS enjoyed a brief respite at the end of last week, with a technical rebound lifting the Straits Times Index (STI) to our stated resistance level of around 2,377. However, this rebound
      Source:  -  299 words

  • Page 9 Advertisements
    • 42 9 PLEASE CONTACT: DONALD MCARTHY TRADING PTE LTD 138, CECIL STREET 04-02, CECIL COURT. SINGAPORE *****8 PHONE: 6227-5711 FAX: 6225-3711 EMAIL: nferrous@pacific.net.sg Holding an auction? Call 1800 289 8822 or email notices@sph.com.sg to book your auction notice in our newspapers now. f I
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  • FOCUS: COMMUNICASIA
    • 611 10  -  It will award contract next year, network expected to be ready by 2012 By WINSTON CHAI SINGAPORE'S call for a new nation-wide broadband network has been met with an avalanche of responses from the local technology sector, with 33 companies submitting proposals on
      611 words
    • 240 10  -  By ROLAND LIM SINGTEL will introduce a new low-cost mobile "push" e-mail system called Sing Tel Mobile Mail next month, offering an alternative to the popular Blackßerry service that it also offers. Based on a system from Canadian wireless software developer Consilient, Mo- bile
      240 words
    • 458 10  -  By ROLAND LIM SINGAPORE can leverage on its ability to harness infocomm technology (IT) and its reputation as a trusted financial gateway to be a showcase for IT innovations in the financial services industry, DBS Group Holdings boss Jackson Tai
      458 words
    • 180 10 SINGAPORE and Japan will collaborate for the first time to produce 13 anime episodes, using software developed by the Nanyang Technological University (NTU). Under a Memorandum of Understanding signed yesterday between Japan's Anime International Company and the School of Computer Engineering (SCE) in NTU,
      180 words
  • Page 10 Advertisements
    • 194 10 §uk£\ FORUM HM A <JSg§ GOOD GOVERNANCE AND ***31 THE wealth of nat,ons ZfcjPl Singapore, 14 15 Sep 2006 Discussion leaders include: A unique event, where Claude B6b6ar and practices translate toto ;JJS.I Chairman of the Supervisory Board, we&tth Creat!ofL*s*'•'•'" 1 AXA Group Suzanne Nora Johnson ttie L#e Kuan Yew
      194 words
    • 214 10 SINGAPORE INDIAN CHAMBER -g CA U yftr/ OF COMMERCE 'NDUBTHY Institute of South Asian Studies t THE FOURTH SICCI-ISAS GLOBAL BUSINESS LEADERS' LECTURE BY H.E. MR DAYANIDHI MARAN UNION MINISTER FOR COMMUNICATIONS AND INFORMATION TECHNOLOGY GOVERNMENT OF INDIA The SICCI-ISAS Global Business Leaders' Lecture is a joint initiative of the
      214 words

  • SINGAPORE NEWS
    • 547 11  -  National interest can be overlooked in a multi-party system By NANDE KHIN in Auckland PRIME Minister Lee Hsien Loong said yesterday that Singapore's political system with one dominant party works best for a small, largely uniform country. Speaking to Singapore reporters in
      STEPHANIE YEOW/ST  -  547 words
    • 553 11  -  By NANDE KHIN, MELISSA LWEE THE long awaited framework agreement between Singapore and Indonesia to help set up Special Economic Zones (SEZs) for the islands of Bintan and Batam is to be signed on Sunday. This is part of a joint move
      553 words
    • 380 11  -  By MICHELLE QUAH GLOBAL accounting firm Deloitte Touche Tohmatsu has created a new regional practice for its member firms in South-east Asia, as part of plans to double its strength in Asia within the next five years. Deloitte ASEAN will bring together
      380 words
    • 366 11  -  By MELISSA LOH A NEW programme of good laboratory practice, or GLP, is to be introduced to lay down standards of nonclinical safety testing in Singapore. Minister of State for Trade Industry Lee Yi Shyan made the announcement yesterday at the
      366 words
    • 356 11  -  By ARTHUR SIM A SITE in Woodlands Industrial Park (E2/E9) will be awarded soon after a public tender closed yesterday the third award of such a site this year. The highest bid for the 167,034 sq ft site with a
      356 words
    • 358 11  -  By WEE LI-EN A SERIES of e-mail messages have come under scrutiny in court in determining whether CrimsonLogic's former chief executive Velusamy Mathivanan is guilty of corruption. Mathivanan and two of his senior managers have been accused of agreeing to give a bribe of $35,000
      358 words
    • 151 11 Bloomberg SINGAPORE'S three-month interbank rate, at which banks lend to each other, rose to its highest in almost seven years as the citystate's economic expansion may have fuelled more lending. The three-month interbank rate, measured by the Association of Banks in Singapore,
      Bloomberg  -  151 words
    • 295 11 THE CPF Board will distribute $480 million in surpluses from the Home Protection Scheme to members, in the form of rebates. It will also lower annual premiums of the insurance scheme from July 1, with older members benefiting with larger percentage reductions. This
      295 words
    • SINGAPORE ROUNDUP
      • 43 11 KHAW Boon Wan, Minister for Health, will be attending the Bth Asean Health Ministers' Meeting in Yangon from today to Friday, with senior Ministry officials. The theme of the meeting is "Asean Unity in Health Emergencies".
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      • 97 11 READER'S Digest conducted an unprecedented, 35-country test to measure politeness. In each country, undercover reporters staged three scenarios, to see if people would hold open a door, say "thank you" after making a shop purchase, and help someone pick up papers dropped in a
        97 words
      • 72 11 THE first ever Cornell University-Asia Spa Institute's executive development programme is to be held here on Oct 6 and 7. Using Las Vegas as a case study, some of the topics will touch on how the forthcoming integrated resorts, and the hospitality and tourism industry and
        72 words

  • S'PORE ARTS FESTIVAL
    • 700 12  -  REVIEW: THE NECESSARY STAGE'S MOBILE By AARON LYE THE Necessary Stage's (TNS) presentation of Mobile at the Arts Festival was a strongly felt statement about the plight of the migrant worker, and what he or, more often than not, she has to go through
      700 words
    • 653 12  -  PREVIEW: SHORTER SWEETER By BRYNA SIM MARK Cleary is a writer, director, and producer, but has never been an actor. 1 When asked why, the founder and artistic director of Short Sweet replied with a laugh: "Some people should never be actors, and I'm one of them."
      653 words
  • Page 12 Advertisements
    • 171 12 Fly our new Business Premier with a partner to New Zealand on Air New Zealand and enjoy 85% savings |HP' on the companion fare. That's right Both you and your companion can stretch out in luxurious lie-flat beds W J Mff k 39,000 feet above ground or dine face-to-face on
      171 words

  • WORLD CUP 2006
    • 778 13  -  By WONG WEI KONG HOWrAND against Argentina at the World Cup has always produced epic battles. But it may be a little less intense this time around when the two sides meet early tomorrow morning in Frankfurt in the last match
      REUTERS  -  778 words
  • Page 13 Advertisements
    • 900 13 Organised by The Business Times and Philips, it brings together 32 executives who have teamed up to help raise J 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. I f 1 jBi m
      900 words

  • ECONOMY WATCH
    • 427 14 Reuters [WASHINGTON] The United States and the European Union (EU) are launching a joint campaign to fight the huge global trade in fake and pirated goods, beginning in Russia and China, EU officials said on Monday. "Stepping up the enforcement
      Reuters; AFP  -  427 words
    • 737 14 Many investors see Beijing's moves as relatively minor and pre-emptive Reuters [LONDON] A sharp downturn in the still dominant US economy aside, there is little that is more likely to grab international investors' attention than signs of trouble in burgeoning economic powerhouse China. So
      Reuters  -  737 words
    • 417 14 Bloomberg [SHANGHAI] China's government will sell savings bonds to individual investors part of efforts to slow the world's fastestgrowing major economy by draining liquidity from the financial system. Seven lenders including Bank of China were selected to start offering the localcurrency
      Bloomberg  -  417 words
  • Page 14 Advertisements
    • 32 14 The BUSINESS 2 bottles of red/white wine of your choice t V In fELZ; Call 6388 3838 now to subscribe 1 ---if._*%:.#. 1 -"^••.>Si' *''v*-.•>.''• -4".: 3V-. a*s-«-^W?--*v~-^&^m!tt';Wr4m^siK^M The Business Times Newsweek
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  • MALAYSIA
    • 492 15  -  He wants people who wage war to be treated as criminals By PAULINE NG in Kuala Lumpur FORMER Malaysian prime minister Mahathir Mohamad yesterday had nothing to say about his successor Abdullah Badawi, a day after the supreme council of
      AP  -  492 words
    • 315 15 Reuters Bloomberg [KUALA LUMPUR] Malaysian construction firm UEM World is in talks with more than four theme-park operators, including Disney, about a proposal to build a major attraction in southern Malaysia, the firm said yesterday. "We are talking to various parties.
      Reuters; Bloomberg  -  315 words
    • BRIEFLY ASIA
      • 69 15 Reuters [KUALA LUMPUR] Pos Malaysia and Services Holdings Bhd said yesterday it has not decided to sell its stake in air-cargo firm Transmile Group Bhd, denying media reports that a sale was imminent. Separately, Transmile also denied knowledge of the proposed stake sale. The
        Reuters  -  69 words
      • 60 15 AP [KUAIA LUMPUR] Malaysian engineering firm Ranhill Bhd said yesterday it will pay U*****.5 million to purchase a Philippine power plant's assets. Ranhill said it had agreed to buy the plant's holding company, YNN Pacific Consortium Inc, for a separate US$B million on
        AP  -  60 words
      • 39 15 Bloomberg [KUALA LUMPUR] Telekom Malaysia Bhd said it is looking at acquisitions in South and South-east Asia. It is reviewing Spice Communications, an Indian mobile operator, and considering opportunities in Vietnam. —Bloomberg
        Bloomberg  -  39 words
    • 402 15  -  By S JAYASANKARAN in Kuala Lumpur NEXT Monday's introduction of six new stock indices to track the Malaysian market is likely to result in the eventual demise of the current Kuala Lumpur Composite Index. It's also likely to cause some short-term volatility;
      402 words
  • Page 15 Advertisements
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      30 words
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  • GREATER CHINA
    • 390 16 Dormitories and cars also vandalised, chairs torched AFP [BEIJING] Thousands of students at a central China university continued to stare down police yesterday as they maintained a boycott of classes over their treatment by school management. Students have been on strike since between 5,000 and
      AFP  -  390 words
    • 611 16 Punters having a ball since territory legalised soccer gambling 3 yrs ago Reuters [HONG KONG] Hong Kong may not have a team at the World Cup but that has not stopped interest reaching stratospheric proportions because of the craze for soccer betting.
      Reuters; REUTERS  -  611 words
    • 418 16 Reuters [TAIPEI] Hon Hai, Taiwan's top electronics components maker, is to buy digital camera manufacturer Premier Image Technology Corp for US$B65 million in a share swap as it looks to establish itself in the digital camera market. Based on Hon Hai's close
      Reuters  -  418 words
    • 274 16 AP [BEIJING] McDonald's Corp and China Petroleum and Chemical Corp announced an alliance yesterday to build drive-through McDonald's outlets, hoping to combine forces to profit from soaring Chinese car ownership. Under the agreement, McDonald's and the Chinese partner, known as Sinopec, will turn an unspecified
      AP  -  274 words
    • 246 16 Reuters [HONG KONG] The average merger and acquisition (M&A) deal in China's financial services sector is likely to shrink this year but the number of transactions will remain robust as foreign investors look beyond banks, according to a report by PricewaterhouseCoopers
      Reuters  -  246 words
  • Page 16 Advertisements
    • 1165 16 (Fj Hablb Bank Limited and übsidiary Companies I 4*4 (Incorporated in Pakistan) CONSOUDATED (SUMMARIZED) BALANCE SHEET AS AT DECEMBER 31, 2005 2005 2004 2005 2004 (Rupees in' 000) (Rupees in' 000) CAPITAL Authorised capital 13,800,000 13,800,000 ASSETS Cash and balances with treasury banks 33,051,049 31,970,302 Shareholders'equity Balances with other banks
      1,165 words

  • INDIA
    • 546 17 They target small developers as big players want to go it alone Reuters IMUMBAI] Foreign investors are targeting small Indian property developers because big players want to go it alone, and there are few investment-grade buildings. With only a handful of property
      Reuters  -  546 words
    • 2358 17 VOL General Corp .0.55 unch 63 Jim 20 HI* *1- COOO) Gentinq 12.80 0 50 769 George Kent .0.47 -0.01 15 A 4 M Realty 1.35 unch 5 GHI Systems 0.20 -0.01 2097 Abnc .0.35 0.04 227 Globetronks Tech All undi 347 ACP Industries 0.84 0.03 380 GlomacBhd
      2,358 words
    • 330 17 Bloomberg [NEW DELHI] India should open retailing to overseas ownership and implement the move in phases, giving local industry preparation time to take on chains such as Wal-Mart and Tesco, an industry body said. The government, which may allow foreign holding in
      Bloomberg  -  330 words
    • 256 17 Bloomberg [MUMBAI] US buyout firm Carlyle Group, which has US$39 billion under management, may invest in five more Indian companies over 12 months, said M Shankar Narayanan, managing director of its Indian unit. The firm, which raised US$66B million for an Asian
      Bloomberg  -  256 words
    • 398 17  -  At US$21b a year, it leaves China and Philippines behind By SIDDHARTH SRIVASTAVA in New Delhi FOR Indians, home is where their money should be. India is the largest recipient of remittances from overseas workers, estimated at US$2l billion up almost 150 per
      398 words
  • Page 17 Advertisements
    • 532 17 The Enterprise 50 award programme, established by Accentune and The Business Times in 1995, recognises the contributions that local, privately held companies have made in economic 1 development at home and abroad. Enterprise 50 1 is jointly supported by the Singapore Economic financial year must fall within the 2005 calendar
      532 words

  • ASIA-PACIFIC/WORLD
    • 456 18  -  3 banks manage more than US$1t each; ÜBS retains pole position By NEIL BEHRMANN in London LEADING private banks now manage as much as US$B.5 trillion on behalf of their wealthy clients. The extent of the wealth illustrates the extent of flows that move into
      456 words
    • 587 18 NYT Reuters Bloomberg [LONDON] The steel giant Arcelor has postponed a crucial vote related to its 13 billion euro (Ss26 billion) deal with Russian billionaire Alexei Mordashov, raising questions about whether the deal was unravelling. Arcelor, which is based in Luxembourg,
      NYT; Reuters; Bloomberg; AP  -  587 words
    • 334 18 Reuters [WASHINGTON] US Federal Reserve Board governor Mark Olson was named on Monday to head the Public Company Accounting Oversight Board, a US watchdog that polices corporate auditors. The US Securities and Exchange Commission named Mr Olson, a former partner with the Big Four
      Reuters  -  334 words
    • 457 18 LATEST US DATA Bloomberg [WASHINGTON] Home construction rose in May from a 13-month low as builders worked on backlogs of unfilled orders and used incentives to win new business in a slowing market. Housing starts rose a greater-than-expected 5 per cent
      Bloomberg  -  457 words
    • 526 18 Reuters [FRANKFURT] Deutsche Boerse made some structural changes to its proposed offer to merge with Euronext but said there was no need to raise its bid, which competes with a deal agreed by Euronext with the New York Stock Exchange. "The financial
      Reuters  -  526 words
  • Page 18 Advertisements
    • 1523 18 NOTICES BUY IT- SELL IT- FIND IT IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 CENDIAN ASIA PACIFIC PTE LTD REGISTRATION NO. *****6444 M On Members' Voluntary Liquidation) At an Extraordinary General Meeting of the Company convened and held at 10 Co) Iyer Quay #21-01 Ocean Building Singapore *****5
      1,523 words

  • MOTORING
    • 401 19  -  By SAMUEL EE FOBGF.T the trendy wine bar or even a floating river barge the car launch has returned to the stage. But this time, it's not the traditional hotel ballroom. Two new models will be unveiled this week in novel settings. The
      401 words
    • 619 19  -  Alpine Motors widens marque's network to the heartlands, reports SAMUEL EE SAMUEL EE CHEVROLET sales have jumped, with volume surging 32 per cent in May from a month earlier. And some say that much of the boost came from the appointment of
      YEN MENG JIIN  -  619 words
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  • AVIATION
    • 696 20 It also urges Airbus to fix A350 design problems in a month Bloomberg [NEW YORK] International Lease Finance Corp (ILFC), the world's biggest aircraft leasing company, may cancel its US$3 billion order for Airbus A3BO after the plane maker delayed delivery of the jets
      Bloomberg  -  696 words
    • 302 20 Reuters [SHANGHAI] US aircraft maker Boeing Co said yesterday that the delivery schedule for its new 787 Dreamliner remained unchanged. The quality of one of nine fuselage barrels built on a test basis proved unacceptable, Boeing said. But it attributed this to different tools and
      Reuters  -  302 words
    • 1591 20 CITY FLIGHT ETA FLIGHT ETD TR700 223S Davao MI58S 1*10 M15S8 040S Abu Dhabi SQ4S6 13M oau S550S35 $3ST@19 msrwa m!S m ®l jgg L040ji H|5 *—r —Ml izsl* ww™^rii 11 g 1*5 MM g| W| 111| Bandung MZ900 1226 MZ901 1320 BA?|o| iff! NM?# 3K574
      1,591 words
    • 452 20 Reuters [RIO DE JANEIRO, Brazil] A Brazilian judge conditionally approved the sale of Varig airline to the employees' group NV Participacoes, which could save the airline from collapse. "We understand that clarifications were given and financial guarantees presented," Judge Luiz Roberto
      Reuters; AFP  -  452 words
    • 232 20 Bloomberg [HONG KONG] China Eastern Airlines Corp, the nation's third largest airline, carried more passengers for the 16th straight month ip May as economic growth spurred demand for seats onboard its larger fleet. The airline flew 2.87 million travellers last month, 82
      Bloomberg  -  232 words
    • 190 20 Reuters [NEW YORK] Bankrupt Delta Air Lines Inc said on Monday that it is notifying the federal pension insurer, the Pension Benefit Guaranty Corp, that it intends to end its pilots' pension plan, a spokesman said. The request, effective Sept 2, to
      Reuters  -  190 words
  • Page 20 Miscellaneous
    • 266 20 CRYPTIC CROSSWORD 7 Its blades control other 10 Popular viewpoint for exam- Bi—— 11 They maintain high levels ~~■■"""""TlBr" ■■I"" ■h 12 Record the same note twice j j Refreshing article in a French Hi 15 Lower speeds ordered on [;jj j H j I j both sides of the
      266 words

  • SHIPPING/AVIATION
    • 417 21 Bloomberg [FRANKFURT] Hochtief AG and Fraport AG, two airport operators based in Germany, said they are considering making offers for London City Airport. "In four weeks, the documents calling for bids will be available, and then we'll take a look," Donatella
      Bloomberg  -  417 words
    • 255 21 Reuters [BRUSSELS] The European Union has banned three more airlines from operating in the 25-nation bloc and put restrictions on a fourth, updating its blacklist of carriers to try to boost safety in European skies. The executive European Commission said yesterday Suriname-based Blue
      Reuters  -  255 words
    • 171 21 AP [SAN FRANCISCO] Federal officials plan to make San Francisco International Airport (SFO) the first in the US to screen all passenger aircraft cargoes for explosives. The Department of Homeland Security, the Transportation Security Administration and airport officials signed an agreement on
      AP  -  171 words
    • Article, Illustration
      67 21 [NEW YORK] Confetti flies after talk show host Martha Stewart pulled a lever to crash a bottle of champagne against the new cruise ship Crown Princess during its naming ceremonies at the Brooklyn Cruise Terminal in New York last week. The 3.000-plus passenger cruise ship, the 15th in
      REUTERS  -  67 words
    • POR TSHOTS
      • 73 21 Bloomberg [LONDON] AP Moeller-Maersk A/S will more than triple its fleet of tankers used to transport refined oils such as petrol and diesel after ordering more vessels, Lloyd's List reported, citing an interview with the chief executive of the company's tanker unit. The Copenhagen-based
        Bloomberg  -  73 words
      • 101 21 Bernama [KOLKATA] India has decided to build a port at Settwe on the Myanmar coast to give connectivity to the Indian north-eastern state of Mizoram, Press Trust of India (PTI) reported yesterday. Union Minister of State for Commerce Jairam Ramesh was quoted as
        Bernama  -  101 words
      • 77 21 Bloomberg [AMSTERDAM] HITT NV, a Dutch maker of aircraft and vessel traffic-control software, won an order from Oil and Natural Gas Corp (ONGC), India's biggest oil producer, to provide a system for monitoring ships near oil platforms. The company said the value of
        Bloomberg  -  77 words
    • 478 21 It is also looking at other projects in South America as part of its expansion plan Bloomberg [LIMA] DP World, the world's third biggest container port operator, won a concession to build a pier at Lima's port of Callao, part
      Bloomberg  -  478 words
    • 397 21 Reuters [DARWIN] Growing global demand for liquefied natural gas (LNG) and tight supply of specialised tankers and crew create the risk of dangerous lapses in standards and security, a shipping expert said yesterday. "Nobody knows what would happen if a significant accident occured on
      Reuters  -  397 words
    • 231 21 Bloomberg [SINGAPORE] An oil tanker operated by Frontline Ltd has been abandoned after being damaged by an explosion 22 km north-east of Singapore. One crewman is reported to be missing. Frontline spokesman Martin Bexendale said in London yesterday that the vessel had 22 crew members.
      Bloomberg  -  231 words
    • 277 21 SGX '000 )un 20 SS ♦I- Vol CH Offshore .0.33 unch 115 Chuan Hup .031 unch 2248 Cosco Corporation 1.21 -4.03 2538 CWT Distribution 1.08 -0.03 165 EzraHldgs 224 0.06 364 Freight unks 0.06 -0.01 52 Grand Banks Yacht .0.88 unch 0 Java Holdings 130 unch 8 K1
      277 words
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    • 97 21 TUVALU SHIP REGISTRY QJJALITY SERVICE 1. Low taxes 5. Worldwide network of surveyors 2. Agreements with lACS members 6. No restriction on nationality of ownership on surveys and issuance of 7 Tuvalu party to STCW 1987 convention statutory certificates a# amen< j #C an< j j 8 a country in
      97 words
    • 43 21 Myanma Five Star Line, Yangon is pleased to announce the appointment of: BSA TRANSPORTATION PTE LTD 10 Anson Road, #12-01 International Plaza Singapore *****3 Tel: 6227 3318 Fax: 6227 3039 as their Container Feeder Service Agent with effect from 1 st July 2006
      43 words

  • EDITORIAL & OPINION
    • 510 22 EDITORIAL THE last few days have seen a flurry of initiatives from China's authorities aimed at cooling down an economy that remains stubbornly stuck in overheating mode. But whether these measures will work is moot. On June 14, a meeting of China's State Council
      510 words
    • 751 22  -  THE BOTTOM LINE FRANK CHING PUNDITS often write about the relationship between a rising China and such powers as America, Russia or Japan. Few write about another, seemingly unlikely, relationship that between China and one of the world's smallest countries: New Zealand. And yet,
      751 words
    • 1127 22  -  EAS' inclusiveness may create yet another superfluous and ineffective multilateral talk shop By DENIS HEW AT THE World Economic Forum's (WEF) regional meeting for East Asia in Tokyo last week, Asean Secretary-General Ong Keng Yong said that the emerging East Asian Community should
      AP  -  1,127 words
    • 874 23  -  Investment banks vie to sell op support to asset managers entering market By DAVID WIGAN Reuters INVESTMENT banks in London and New York are competing for the booming business of selling operational support to asset managers entering the complex market in credit derivatives. Some
      Reuters; BLOOMBERG  -  874 words
    • 672 23  -  By CARLOS H CONDE PRESIDENT Gloria Macapagal Arroyo of the Philippines has abruptly declared that she has found a way to eliminate a stubborn Communist insurgency through a strategy of "all-out war" coupled with development programmes to discourage peasants from joining the revolution. Numbering no
      672 words

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    • 94 23 I i. ♦cr", j^^^PPHMPPHHPMNMNP^RBVHMHH^V "w% S^SMHNHH kSUb BfcMhJ^itt-\ ~?§ia&^-i*ff'^^^^K^^^Wij y 4t Kg» —-a* -*s»£v jMj k jH 3|l w ■■BBHHWB^^^^BBB a a Real-time breaking news 7-day archive podcast UO&S b(ZAA/bl/tZsS LM/ "trVCs CX)KA't&CfcUOKA» vodcast personalised email news alerts That's urlvy he, gLws we, cu*v STI subscriptions urlve,r e,ire,r the job
      94 words

  • 10336 24 SGX MAINBOARD Transaction date: Jun 20 52-W* Td Last Vol Day Last Quote GrOtv Drv GrYM Net MCao High low Cod* Company Sate ('000) High Low Buyer SaMr Cvr P/t tmll 4.5 1 5716 1st Software 5c 2.5 unch 490 2.5 2.5 2.5 3 10.1 16 6 3148
    10,336 words

  • 6270 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES la tool carr la S$ In USS tfy r <*v %r <*r K<i 19 Inrtan Change Oany Change Puny Change Om>g« I?i» World Inde* Preliminary 958.0 01 -U 0.0 26 04 1J 1 itfi Preliminary 954.1 03 2.0 0.0 10 03 30 ti»cpe
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  • Page 26 Advertisements
    • 1891 26 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination GO PRIDE RDM/ATW/BMN/TLB/NAN SEAFRIEND CAM/NFK/SAV/NOL YOU YA VCW/LAX/MZL Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE F.EJS.EJk. SERVICE Destination ASEAN PREMIER DBI/ABU/DOH/BRN/DMM/KWT Destination BEL ANNA DBI/ABU/DOH/BRN/DMM/KWT STX PO TBN INC/BSN ASEAN EXPRESS DBI/ABU/DOH/BRN/DMM/KWT Loads Singapore, E./W. Malaysia, Indonesia Loads E.
      1,891 words
    • 782 26 IfrfTIKAHA ROftO SIKVICI ypsa/voY ramped hbghhw kg koi lo sh jkt SI*AITS VDfnjKE 11/0* IS 3.2 22/04 25/04 29/04 02/07 04/07 STIAITS VENTURE 12/04 15 3.2 04/07 01/07 13/07 14/07 18/07 STRAITS yEKTUKE 13/04 15 3.2 20/07 23/07 27/07 02/08 04/06 AUSTRALIAN ROftO SCRVKf 1 vßsa/vor Mjggn HBOHmwi miswiMß syp
      782 words

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    • 1405 27 WAN HAI INTERNATIONAL PH LTD CK MO: **********0/* m TE:*****588 (14LINES) FA******163 V\\M lAIAIJ UA| I INFV Cwtom*Sanria/BookfcgsDirettUm-(1800)*****200 V 11 IflHll 11 Ml Mllllj Fid TH; (03) 3344M88 FAX: (03) *****258 FW HL (04) *****00 FAX: (04)*****99 yL- JOH IK: (07) 251W23 FAX: (07)SSlfl9215UIIH: (031) *****75 FAX: (031)*****14/ *****05 »w
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    • 1071 27 1 |Tjn EASTERN CAR LINER, LTD f 1 SPECIALIZE IN ROUP C HEAVY UFT UPTO 450 TONS IWTIIA-ASU StltVKI VOY Rwy UHfag ISW I KXJ I WLfll) fKUW) PWW «r LCI mj* SU» UPC ITU GOLD WE HAM W 40 12? IVOT 24/06 W/D6 UIAC ACE 40 1" 2S/06 26/06
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    • 843 27 m 3@as& WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTS VKSfI VOT SIN PJtLANC COLOMBO N. SHEVA COLOMBO miv GANDHI OIMW 77 JUH QMQ QUO 2LUIH BZJIU— st fig -wKQUPfllwilA Y&" II JUL ~fm" IiIUL ~4fjUL~ 2^JUL INDliu GANDHI OIQSW 11 JUL 19 JUL 73
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  • Page 28 Advertisements
    • 977 28 Mkl J IA n*_ II.J lot 65-*****907 Fox *****917 Nordana (Asia) Pte Ltd bd;MMiwda««iuM 70 ShmtM Way, *21-03 Marina House Singapore *****8 NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS DATES ARE ARRIVAL DATES VESSEL VOY B Cocyslslod CWsfoslslorf Sfcqapore PoskGedoiq Island im» Wi 111 2Lhn anhio
      977 words
    • 792 28 BL «k— HtUHM T7SH J37K JI7W WHHTAH 9357 ***** W757 "TSFTSSI 53W WU JJ7R HOIITH 9J51 ***** TT757 ncum TtM urn h/m ruwnu is/07 uw "SRT mm TT7SS T7%? -®SQS W] §7o* ***** i™ gmg LLIJJL! |B! fs.\"± |gi is|ip] (OISmOSTAII W/Ih>~ 01/07 1/#7 I 0W ?I 101/07 I 07/07
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    • 499 28 CONVENTIONAL SERVICE CHENNAI/CHTG 03 JULY COLOMBO 05 JULY BOMBAY/DUBAI 11 JULY DAMMAN 11 JULY l^^mfMßviuTNirGßOttn I( SINCE I*7o I OWNS A OPERATES THE YOUNGEST FLEET wnH FOURTEEN 7,000 DWT TWEEN DECKERS I COVERING THE ENTIRE ASIA PACIFIC PORTS I m REGULAR WEE KLY S€RVICES: a IKAOHSIUNG A CHINESE PORTS, HONG
      499 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 7543 29 This —I i ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel X 0^ 9 Telephone ETA SIN Dest'n Name Name Number Number SIN Dettn Name Name Number Number SIN 08/0 To ABIDJAN (ABJ) 2003 Cote D'I voire To GENOA/GENOVA (GOA) 2137 Italy
      7,543 words

  • EXECUTIVE MONEY
    • 348 30  -  By Chua Boon Lee Standard Poor's Associate, Fund Services In our previous article, we talked about the hunt for uncorrected assets to diversify and optimised portfolio returns. In a wired globalised world, where liquidity can wash in aid out of most regions of the world
      Source: Standard & Poors  -  348 words
    • 1135 30  -  MONEY MATTERS Do your homework, re-invest returns, and stay humble how's that for a strategy? CLEMEN CHIANG ONE of the single most important messages you often hear in the world of investing is this, "You will get RICH!" It is not always easy but it can be
      1,135 words
    • 556 31  -  COVER STORY Investors chasing performance means big bubble is forming, says Vanguard's Sauter By GENEVIEVE CUA GUS Sauter, chief investment officer and a managing director of The Vanguard Group, believes emerging markets are a "good long-term investment", but he welcomes the recent pullback. Over four
      556 words
    • 680 31  -  By CHET CURRIER Bloomberg DON'T take that tranquiliser! Put away those sleeping pills! There's a better, safer way for long-term investors to calm their jangled nerves after the recent drop in the stock and commodity markets. Sit yourself down in
      Bloomberg  -  680 words
    • 5819 31 UNIT TRUSTS FUNDS ACMGI Amer Income 8 USD 8.38/ ACMGI Amer Income A EIW 6.67/ ACMGI Amer Income B EUR 6.67/ ABNAmro Asset Mgt (Spore) ACMGI Europ IncomeOpp ATSGD 14 98/ Star Europe Eqty'" 0.896/ ACMGI Europ Income Opp BT SGD 14.98/ Star Europe Bond 1.173/ aCMGI Europ Income Opp
      5,819 words
    • 1047 32  -  There's nothing like a period of volatility to show why short-term investment tactics are often doomed, as GENEVIEVE CUA finds out from Vanguard's chief investment officer GENEVIEVE CUA WHEN times are tough, the tough go back to the basics. Or rather, they stick to the
      1,047 words
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    • 147 30 I "'MM WlarnM ||ij|a I BREAKING NEWS I jsl||j I Massive search for I #•#§l :ku quake's survivors I M B ij/Fj 1 F7VV -ST)(3m«**9o) ■>..J m S 0 i f M M K M W M '3sjpj|l I Capital and to announce I M M I fl M v
      147 words
    • 327 30 Do you know WHAT to look for when what you can expect to learn from this you are investing in a company? workshop: Profit-making investment principles and strategies Do you know WHEN is the right time based on stock valuation and selection for you to enter/exit the Stock Market? stock
      327 words

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