The Business Times, 27 June 2006

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Total Pages: 30
1 30 The Business Times
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  • Title Section
    Lock icon Masthead
    15 1 THE BUSINESS TIMESS Tuesday June 27,2006 online at http://business-times.asial.com.sg MICA (P) 099/03/2006 SINGAPORE 85 cents
    15 words
  • Article
    Lock icon Conveyancing fees take a beating
    875 1  -  Fees have more than halved in a decade, further falls will make business uneconomical, say some lawyers By WEE LI-EN [SINGAPORE] Lawyers are complaining that their fees for buying or selling a home are less than half what they were ten years ago. While these
    875 words
  • Article, Illustration
    Lock icon Buffett to give stunning US$37b to charity
    824 1 LAT-WP NYT AP [NEW YORK] Investment guru Warren BufFett, whose stake in the company he founded is worth US$44 billion, disclosed plans on Sunday to give nearly all of it away, mostly to the world's largest charitable organisation, the Bill Melinda Gates Foundation.
    LAT-WP; NYT; AP  -  824 words
  • Article
    Lock icon MARKETS DIGEST
    138 1 STI 2,367.94 (+24.91) ST INDEX FUTURES 2,368.00 (+25.00) SIMSCI 282.08 (+2.65) SIMSCI FUTURES 281.00 (+1.90) MARKETS Monday Change KLSECOMP 904.51 -1.83 NIKKEI 225 15.152.40 +2836 HANG SENG 15,804.81 -4.00 SET INDEX 659.27 -0.25 JAKARTA COMP 1.283.85 -6.31 MANILA COMP 2,092.40 -20.77 SEOUL COMP 1,238.05 +9.43 SHENZHEN B 286.58
    138 words
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  • TOP STORIES
    • Article
      Lock icon Stiffer test to assess S'pore corporate transparency
      909 2  -  Revamped BT-CTI takes into account best practices, new disclosure rules By MICHELLE QUAH {SINGAPORE] A tougher and more telling test has been set for corporate transparency in Singapore thanks to a new team at the helm of the Business Times Corporate Transparency Index
      909 words
    • Article, Illustration
      Lock icon Batam industrial park tenants invest US$l20m
      583 2  -  By DANIEL BUENAS [SINGAPORE] Indonesian businessman Kris Wiluan yesterday announced US$l2O million worth of new investments from Singapore and Canada for his Batam industrial park just a day after Singapore and Indonesia signed a framework agreement aimed at attracting more investment to the island.
      583 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      522 2 Singapore May output growth disappoints BOOMTIME at the shipyards failed to offset the relocation of disk drive manufacturing and another month of weak pharmaceutical output. The result is below-par industrial production in May and probably a dip in second-quarter GDP growth. Total manufacturing output grew 10.6 per cent
      522 words
    • Article, Illustration
      Lock icon S'pore May output growth disappoints
      512 3  -  Output grew 10.6%, below market expectation of about 15% By ANNA TEO [SINGAPORE] Boomtime at the shipyards failed to offset the relocation of disk drive manufacturing and another month of weak pharmaceutical output. The result is below-par industrial production in May and probably a dip
      BLOOMBERG  -  512 words
    • Article
      Lock icon Asia seen as world's growth driver in 5 years
      516 3  -  By ANNA TEO [SINGAPORE] Asia will replace the United States as the key driver of global growth within five years, according to a DBS Bank economist. "In five years' time, domestic demand growth from Asia will outstrip that of the US.
      516 words
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      Lock icon Page 2 Advertisements Column 1
      494 2 1 r T "jp Futures and Options Work! Versatile forward transactions Dates Futures and Options are versatile forward transactions, enabling better risk 27 &28 July 2006 taking and hedging in both the financial and corporate worlds. From the initial 9 00am to 5.00pm days of commodity trading (rice and eggs),
      494 words
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      20 2 Inviting tenders? Call 1800 289 8822 or email notices@sph.com.sg to book your tender notice in out newspapers now. [•■AT3 NOTICES
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      Lock icon Page 2 Advertisements Column 3
      13 2 Hunting season has begun. (Target: Private Bankers) wwv;.thepeopleatwork com I Asia-Pacific Executive Search
      13 words
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  • COMPANY NEWS
    • Article
      Lock icon Beyond letter of the law
      743 4  -  HOCK LOCK SIEW By MICHELLE QUAH EVERY now and then, a listed company does something that forces the market to re-as-sess the purpose of corporate disclosure and transparency. Guocoland's latest filing with the Singapore Exchange, on its sale of Robinson Centre, does just that. While
      743 words
    • Article, Illustration
      Lock icon ICMT, CCT to raise debt issue new units
      638 4  -  Moves are to fund $2.19b Raffles City purchase which will raise Reits' DPU By ARTHUR SIM CAPITALAND'S real estate investment trusts (Reits) Capita Commercial Trust < (CCT) and Capita Mall Trust (CMT) will both raise debt and issue new units to help
      FILE PHOTO  -  638 words
    • Article
      Lock icon F&N's shopping mall Reit set to rake in nearly $270m
      782 4 Reuters Bloomberg SINGAPORE'S Fraser and Neave (F&N) is set to raise *****.8 million in a public offer for a real estate investment trust (Reit) based on its shopping malls, at about the mid-point of its offer range. Units of Frasers
      Reuters; Bloomberg  -  782 words
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      343 4 i«*hw-w ...'l™*,—z—rrrzr™—z— JVm y iwHbHrtg)pa w 14JHMH SINUS "SID Mational Urwvcfvty Reporting Centre SINGAPORE WSTTTUTE OF DIRKTORS 2006 NUS-SID Conference Your Board Thursday 20 July 2006 8.30 a.m. 5.30 p.m. Grand Ballroom The Ritz-Carlton Millenia Opening Address Mrs Lim Hwee Hlia Minister of State for Finance and for Transport Welcome
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Short-covering plus 'buy in anticipation'?
      537 6  -  STOCKS Straits Times Index surges 24.9 points despite the lack of direction from overseas R SIVANITHY Senior Correspondent SHORT-COVERING or "buy in anticipation, sell on news"? Or perhaps it was a little of both? On a day when there was no direction forthcoming from Japan,
      Source: Bloomberg  -  537 words
    • Article, Illustration
      Lock icon TRADES TO WATCH
      989 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures nude on tun 26 and earlier) Subuirtial Hoof Wee SHAREHOLDING Tram Shareholder/ Buy I Stum Per Before After Stock Pate Director Seft 'BOO Shr$ fgg CBW) Ossia Intl 26-Jun-06 Goh China Wah *Buy 68 0.15 *****2 61.25 *****0 61.28 'Hotel Negara 24-Jun-06 UOB
      989 words
    • Article, Illustration
      Lock icon BROKERS' TAKE
      881 6  -  Complied by MATTHEW PHAN United Overseas Bank June 26 dose: 5515.20 I CMB-GK RESEARCH, June 26 UOB has divested 54.5 per cent of Hotel Negara to UOL. With the latest transaction, DOB has complied with MAS non-core divestment requirements. Transacted pricing of *****,000 per room appears to be
      Source: Bloomberg  -  881 words
    • Article, Illustration
      Lock icon US$ hits 2-month highs before shaving gains
      519 6  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar bullied its way back yesterday to twomonth highs versus currencies like the euro, Japanese yen, Singapore dollar, and the Antipodean pair, before losing steam and trimming gains by the Asian close. Ahead of another US
      519 words
    • Article
      Lock icon Vantage stands by its valuation remarks
      387 9  -  It insists PacNet worth much more than MediaRing's first offer of US$8.25 a share By MATTHEW PHAN VANTAGE Corporation reiterated yesterday that Pacific Internet is worth much more than Mediaßing's first offer of US$B.25 per share. It was responding to a Mediaßing statement last
      387 words
    • Article, Illustration
      Lock icon Pearl to be Aabar's global arm
      623 9  -  Plans to grow Pearl through further E&P acquisitions By RONNIE LIM SINGAPORE-HEADQUAR-TERED Pearl Energy will now become the global oil/gas exploration and production arm of Aabar Petroleum following its acquisition by the Abu Dhabi-listed company, a senior Pearl executive told BT yesterday. And Aabar
      FILE PHOTO  -  623 words
    • Article
      Lock icon China Food rights issue to raise $9.5m
      307 10  -  The money will be used to repay short-term borrowings By MICHELLE QUAH CHINA Food Industries (CFI) is raising $9.5 million from a proposed l-for-2 rights issue to repay shortterm borrowings. The China-based pigfarming company, which is listed on Sesdaq, plans to issue 87.8
      307 words
    • Article, Illustration
      Lock icon Labroy bags US$18m deal from new client
      265 10 SHIP and jack-up rig builder Labroy Marine said it has won another offshore contract worth US$lB million from a new customer, an established Dutch operator of jack-up platforms. Labroy will fabricate two platforms and install jacking systems, legs, other machinery and equipment using
      FILE PHOTO  -  265 words
    • Article
      Lock icon Eastgate to raise $2.6m from bonus warrant issue
      330 10 Proceeds from issue will be used for working capital EASTGATE Technology, which was in a spot of negative news recently, yesterday proposed a bonus warrant issue to raise over $2.6 million. The company, which makes CDs and VCDs, is planning to issue
      330 words
    • COMPANY BRIEFS
      • Article
        Lock icon China Wheel unit in deal with Michelin
        102 10 CHINA Wheel Holdings, a company involved in the design, manufacture and sale of aluminum alloy wheels, said that its wholly owned subsidiary Baoding Lizhong Wheel Manufacturing has signed an agreement of strategic cooperation with Michelin (China) Investment. Under the agreement, Lizhong Wheel will
        102 words
      • Article
        Lock icon Pine Agritech expands capacity
        98 10 PINE Agritech, a company that develops, produces and markets soybean-based health food and food ingredients, announced that it has completed the expansion of production capacity for two core products, soy oligosaccharide syrup (SOS) and soy protein isolates (SPI), in June 2006. The capacity expansion plans were
        98 words
      • Article
        Lock icon Popular e-learning unit's CEO quits
        55 10 POPULAR Holdings announced that Hee Joh Liang would be resigning as CEO and director of Popular e-Learning Holdings Pte Ltd (PEL), its e-learning unit, on June 30,2006. Its chairman Chou Cheng Ngok will oversee the operations of PEL and will be assisted by the current
        55 words
    • Article
      Lock icon NOL's container revenue falls 8%
      273 10 Bloomberg NEPTUNE Orient Lines Ltd (NOL), which operates Asia's fourth-largest container shipping company, had a third month of decline in its average container revenue because of rising costs and falling rates on some trade routes. The company's average revenue per 40-foot container fell 8 per
      Bloomberg  -  273 words
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      3331 7 HOTEL NEGARA LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number *****0074H) ANNOUNCEMENT MANDATORY UNCONDITIONAL CASH OFFER FOR HOTEL NEGARA LIMITED The Board of Directors (the "Directors") of Hotel Negara Limited (the "Company") wishes to inform shareholders of the Company ("Shareholders") that UOB Asia Limited ("UOB Asia"), for and
      3,331 words
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  • Article
    Lock icon CORPORATE TRANSPARENCY
    2921 8 t fc Business Times Corporate Transparency Index 2006 f* RANK COMPANY CONTENT CONTEXT OVERALL I Qian Hu Corporation 58 j 36 94 2 Raffles Holdings 56 31 87 3 CapitaCommercial Trust 44 36 80 3 Keppel Land 44 36 80 5 Keppel Corporation 43 36 79 5 Singapore
    2,921 words
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  • Page 9 Advertisements
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      Lock icon Page 9 Advertisements Column 1
      538 9 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, Thailand
      538 words
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  • S'PORE ARTS FESTIVAL
    • Article, Illustration
      Lock icon The sheer beauty of movement
      850 11  -  DANCE WRAP By CHEAH UI-HOON FOR an audience starved of good contemporary dance performances in Singapore, the Singapore Arts Festival is like the monsoon season, bringing in a deluge of the world's most exciting choreographers and dance companies, spread out over four weeks. The rest
      850 words
  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      15 11 mm f gBW If I j ll'^^^HEfl |BE®t S HI •IV ~'o\#iigli^^^^^^H ST 2K»2s£k£lM pfeg
      15 words
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      Lock icon Page 11 Advertisements Column 2
      62 11 I Hr <^u c < c r^'n 3 |1| mS*!: Smearing Wa Mm Check washing ~w Ma?' Fade proof M •»<•««< BLUE ~l( RED On^240 with I 1 refill L1 < Wort li SI.60, C 3 Promotion |> it ks available .it alt major honk stores and stationers Limited period
      62 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon A*Star in push to develop silicon photonics industry
      420 12  -  It inks research deal with US firm; Chartered to make new devices By ROLAND LIM BUILDING on Singapore's success in the semiconductor industry, the Agency for Science, Technology and Research (A*Star) has set its sights on developing the silicon photonics industry here
      LIANHE ZAOBAO  -  420 words
    • SINGAPORE ROUNDUP
      • Article
        Lock icon MOU for water knowledge signed
        63 12 PUB, the National University of Singapore, and Dutch water consulting agency Delft Hydraulics yesterday signed a memorandum of understanding with the goal of developing a regional centre of excellence for water knowledge. Delft Hydraulics intends to set up a branch office here, and will also
        63 words
      • Article
        Lock icon ST Elec setting up PhD programme with NTU
        51 12 SINGAPORE Technologies Electronics Ltd will launch a new PhD research programme on simulation model validation with the Nanyang Technological University in August. The programme aims to develop a generic validation framework, which can then be applied in industries such as aviation and
        51 words
      • Article
        Lock icon Indian minister on 3-day visit here
        27 12 THE chief minister of the south Indian state of Karnataka, H D Kumaraswamy, will be visiting Singapore from today till Thursday.
        27 words
      • Article
        Lock icon Poly students get taste of finance
        37 12 THE MoneySENSE Financial Education Steering Committee and the Central Provident Fund Board yesterday kicked off a series of activities to bring financial education to students at the five polytechnics in Singapore.
        37 words
      • Article
        Lock icon Nevada Uni Masters intake now open
        34 12 THE Singapore campus of the University of Nevada in Las Vegas has launched its recruitment of candidates for the first intake of its Executive Masters in Hospitality Administration.
        34 words
    • Article
      Lock icon S'pore among Top 20 priciest cities for expats
      390 12  -  By MATTHEW PHAN SINGAPORE is now the world's 17th costliest city to live in, up from 34th last year at least for luxuryloving expatriates. Higher rents of international standard accommodation and a slight appreciation of the local currency against the US dollar
      390 words
    • Article
      Lock icon Asian economic integration push needs US, seminar told
      552 12  -  By CHUANG PECK MING THE United States appears to be needed in Asia at a time when it is losing interest in the region. The recent push for economic integration in Asia will not go far and the gains from it curtailed
      552 words
    • Article
      Lock icon Age bias in job adverts a no-no
      251 12 "APPLICANTS below 45 years old preferred" or "Applicants below 35 wanted for clerical or executive positions". Such statements in job advertisements are a no-no, according to the new Age-Friendly Employment Practices guide released by the Singapore Workforce Development Agency (WDA) yesterday. If the
      251 words
    • Article
      Lock icon Tharman opens education symposium in Liaoning
      107 12 THE first Singapore-Liaoning education symposium, opened by Education Minister Tharman Shanmugaratnam, was held in Shenyang yesterday. At the meeting, the 16 participating Singapore education companies presented business cooperation models that could be adopted by Chinese tertiary and vocational training schools. The three main models
      107 words
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  • SMEspotlight
    • Article, Illustration
      Lock icon Staying the course in rough seas
      869 13  -  Expansion into regional markets is key to Tian San Shipping's strategy for growth, its director tells WEE LI-EN and CRYSTAL NEO WEE LI-EN, CRYSTAL NEO BUSINESS, declares Ho Sow Wah, director of Tian San Shipping (TSS), is like playing a game of chess. It
      869 words
    • Article, Illustration
      Lock icon Charting own course in high seas
      958 13  -  Vasco Maritime boss tells NANDE KHIN adaptability to change keeps his firm afloat NANDE KHIN BEING nimble and adaptable is how shipping line Vasco Maritime Pte Ltd maintains its edge in an industry dominated by much bigger players. Said P R Sreenivas, director and
      YEN MENG JIIN  -  958 words
    • Article
      Lock icon CitiBusiness award latest addition to SPBA line-up
      362 13  -  By MANDE KHIN A NEW award that recognises local brands which have been successful overseas has been added to the annual Singapore Promising Brand Award (SPBA). The Citißusiness-SPBA Regional Brand Award was officially launched by the Association of Small Medium Enterprises (Asme) and
      362 words
    • Article
      Lock icon Windsor presses ahead
      762 14  -  SMALL CAPS PCB mould maker ups capacity despite share price hiccup, MATTHEW PHAN reports MATTHEW PHAN IMAGINE listing your company on the crest of a stock market rise, but only to see the wave dissipate in less than a month. That was what happened to Hong Kong-based
      762 words
    • Article
      Lock icon Portfolio edges up amidst return of punters
      340 14  -  By TEH HOOI LING PUNTERS appeared to be back in the second-tier market with many small cap companies chalking up good gains. The blue chips, meanwhile, were still trying to find a firm footing. For the week to yesterday, the UOB Sesdaq Index
      340 words
    • Article
      Lock icon UNIT TRUSTS & FUNDS
      5189 14 UNIT TRUSTS FUNDS ACMGIAmer income 8 USO 834/ ACMGI Amer Income A EUR 6.63/ ACMGI Amer Income B EUR 6.63/ AIM Amro Asset Mgt (S port) ACMGI Euop Income Opp AT SGD 14.94/ Star Europe Eqty!" M04/ ACMGI Europ Income Opp BT SGD 14.91/ Star Empe Bond 1.161/ ACMGI Europ
      5,189 words
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  • Page 14 Advertisements
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      Lock icon Page 14 Advertisements Column 1
      34 14 AllianzGI RCM Global Twin-Focus Fund a fund that offers you twin benefits Allianz (jfi) of potential quarterly payouts and limits possible downside. Visit OCBC Bank for G|oba) !nvestors more details. comp.inv refill no *****7169Z
      34 words
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  • WORLD CUP 2006
    • Article, Illustration
      Lock icon Spain to rain on France's parade
      593 15  -  By R SIVANITHY ON PAPER, Spain versus France has the potential to be the match of this round. Both teams play a highly skilled, technical brand of football with the emphasis on speed and tactics using players from the top leagues in Europe. The
      AP  -  593 words
    • Article
      Lock icon Portugal lick wounds, mull England encounter
      367 15 Reuters [NUREMBERG] Triumphant in victory but licking their wounds at its cost, Portugal are wondering how to restructure against England without two, or possibly three, key players. In an ill-tempered 1-0 win over the Netherlands on Sunday, the Portuguese lost Costinha and Deco to
      Reuters  -  367 words
    • Article, Illustration
      Lock icon Blatter issues cautions to Germany 2006 referees
      510 15 AP [BERLIN] The record stream of yellow and red cards in the World Cup has football's highest official issuing his own caution to the referees. Fifa president Sepp Blatter criticised Valentin Ivanov's handling of Portugal's 1-0 second-round win over the Netherlands, when the
      AP; REUTERS  -  510 words
  • Page 15 Advertisements
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      Lock icon Page 15 Advertisements Column 1
      432 15 Organised by The 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 $1,000. "Although it has been an "The
      432 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon 'FTAs the way to go for E Asia'
      841 16  -  Osamu Watanabe, chairman and CEO of the Japan External Trade Organisation (Jetro), talks to VIKRAM KHANNA about Japan's view of Asia's emerging economic landscape VIKRAM KHANNA Q: How is Japan's recovery changing the behaviour of Japanese companies in terms of their operations
      ARTHUR LEE  -  841 words
    • Article
      Lock icon Concern over Sino-Japan ties
      589 16  -  Businesses hope Koizumi successor will end impasse By ANTHONY ROWLEY in Tokyo CONCERN is rising among Japanese business leaders over the future of economic relations with China as Prime Minister Junichiro Koizumi nears the end of his term and his successor remains unknown. Tokyo's hopes of
      589 words
    • Article
      Lock icon Fed to hold rates steady soon: panel
      164 16 Reuters [WASHINGTON] The US Federal Reserve is expected to hold interest rates steady after capping a long rate increasing cycle with a final quarter percentage point increase this week, a panel of top bank economists said last week. The American Bankers Association's Economic
      Reuters  -  164 words
    • Article
      Lock icon Rise in China's surplus likely
      91 16 AP [BEIJING] China's politically sensitive trade surplus is likely to rise by US$l2O-130 billion this year, up from US$lO2 billion in 2005, state newspaper China Securities Journal yesterday quoted Bi Jingquan, deputy director of the National Reform and Development Commission, China's top economic planning agency,
      AP  -  91 words
    • Article
      Lock icon Central bankers seek to allay concern over rates
      348 16 Bloomberg [BASEL] The world's central bankers, meeting in Basel, Switzerland, sought to allay concern among investors that higher interest rates will hurt economic growth. "The general signs are that growth and investment will continue to spur economies," Hamad Saud al-Sayari, governor of
      Bloomberg  -  348 words
  • Page 16 Advertisements
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      224 16 Bfflggßß 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 Vm (stewed chicken in red wine); go continental with braised chicken with creamy white wine sauce
      224 words
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  • MALAYSIA
    • Article, Illustration
      Lock icon M'sian minister challenges Dr M to quit Umno
      424 17  -  Nazri Aziz also slams ex-PM for slighting Abdullah's son-in-law By S JAYASANKARAN in Kuala Lumpur THE gloves have come off in Kuala Lumpur as criticism by former premier Mahathir Mohamad against Prime Minister Abdullah Ahmad Badawi escalated. Nazri Aziz, Minister in the
      REUTERS  -  424 words
    • BRIEFLY ASIA
      • Article
        Lock icon Sensex posts biggest decline in two weeks
        77 17 Bloomberg [MUMBAI] India's Sensitive Index posted its biggest decline in two weeks on speculation interest rates will keep rising in the United States, prompting investors to dump assets in emerging markets. The Bombay Stock Exchange Sensitive Index, or Sensex, dropped 370.87, or 3.6
        Bloomberg  -  77 words
      • Article
        Lock icon Stanley Leisure, London Clubs in merger talks
        55 17 Bloomberg [KUALA LUMPURI Stanley Leisure pic, the biggest UK casino operator, and competitor London Clubs International pic are in talks about a merger that would create a company with over 50 properties. Asian casino firm Genting Bhd is the biggest investor in both
        Bloomberg  -  55 words
      • Article
        Lock icon KL not to set itself deadline to end trade talks with US
        69 17 Bloomberg [KUALA LUMPUR] Malaysia won't set itself a deadline for concluding trade talks with the US, and any free trade agreement must contain provisions that allow it flexibility in opening up sensitive industries, the government said. Officials from
        Bloomberg  -  69 words
      • Article
        Lock icon Beijing blacklists 30 firms for defaulting on wages
        36 17 AP [BEIJING] Chinese authorities blacklisted 30 companies in southern China for defaulting on employees' wages totalling 20 million yuan (553.9 million), the China Daily newspaper reported yesterday. —AP
        AP  -  36 words
    • Article
      Lock icon BURSA MALAYSIA
      2335 17 VOl General Corp 0.56 unch 32 JunX KM *1- rooo) Genting 3330 -0.50 222 George Kent .0 JO unch 59 ASM Realty 1.35 unch 1 GHLSystems. .0.21 -0.01 1276 Abric 0.34 -0.01 126 Globetron.cs Tech 0.31 -0.01 113 ACP Industries 0.89 0.01 53 GlomacBhd 1.19 unch 0 Advance
      2,335 words
    • Article
      Lock icon New M'sia indices weigh down state firms
      422 17 More weightings for companies with larger free floats Reuters [KUALA LUMPUR] Malaysia's stock exchange operator knocked state-con-trolled firms off their pedestals yesterday with a new series of indices that cut their weightings. The new indices, developed by Bursa Malaysia and index-compiler FTSE, give
      Reuters  -  422 words
    • Article
      Lock icon Utama mulls EPF's Rashid Hussain offer
      197 17 Bloomberg [KUALA LUMPUR] Utama Banking Group Bhd said Malaysia's biggest pension fund offered to buy its 32.8 per cent stake in Rashid Hussain Bhd, which controls the nation's fourth-largest lender by assets. Utama received a "conditional offer" from the Employees Provident Fund (EPF), the
      Bloomberg  -  197 words
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      1136 17 i ADVANCED INTEGRATED MANUFACTURING CORP. LTD. (Incorporated In the Repubic of Singapore) (Company Registration no. *****5216 C) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraondnay General Meeting of Advanced Integrated Manufacturing Lid (the "Company") will be held at Keppel Club, BuWt Chermln Road, Singapore *****8 on
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon China banking sector still needs work
      649 18 Authorities say they will tighten criminal penalties against illicit trade [BEIJING] Agricultural Bank of China, the country's only Big Four lender yet to roll out crucial reforms, was involved in 51 criminal cases to the time of 8.7 billion yuan (Ssl.7 billion) in 2004,
      AFP  -  649 words
    • Article
      Lock icon Beijing setting up panel to battle monopolies
      307 18 AP [BEIJING] China is creating a high-level commission to enforce its proposed new anti-monopoly law, state media said yesterday. The law, which parliament is reviewing this week in preparation for passage, has been closely watched by domestic and foreign companies. It bans price-fixing
      AP  -  307 words
    • Article
      Lock icon Indian mega building projects in the works
      536 18  -  Biggest mall in Gurgaon, tallest tower in Noida By PRIYANKA BHARDWAJ in New Delhi THE world's tallest building and the world's biggest mall in India? The construction of such a mall is progressing fast, though plans for the skyscraper hang in balance. It
      536 words
    • Article
      Lock icon China to OK bank loans for trade futures: paper
      260 18 Reuters [SHANGHAI] Revised futures regulations will allow financial institutions to participate in China's futures markets and to lend money for futures trading, the Shanghai Securities News quoted a regulator as saying yesterday. China is revising its futures rules to accommodate new
      Reuters  -  260 words
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      1272 18 >ATC NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg I IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF TAJIMA METALWORK (SINGAPORE) PTE LTD (In Creditor*' Voluntary Liquidation) Reg. No. *****0276K NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 306 of the Companies
      1,272 words
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      205 18 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF FLOWSERVE FLOW CONTROL ASIA PTE LTD Co. Rag. No. *****2268K (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 306(1) of the Companies Act. Cap. 50 that the Final Meeting
      205 words
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      Lock icon Page 18 Advertisements Column 3
      24 18 Want the best deal? Invite tenders. Call 1800 289 8822 ot email notices@sph.eom.sg to book your tender notice in our newspapers now. NOTICES 1
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  • ASIA-PACIFIC/WORLD
    • Article, Illustration
      Lock icon Men of steel
      384 19 METAL DEALS Source: Reuters Facts about Arcetof^Mtttal ;lE3 !I4 K. Based in Luxembourg ■A behemoth with 3 times the capacity of its nearest rival, Nippon Steel Enjoys 10 per cent of global market share. Employs 320,000 Revenue estimated at USS7Ob ■The first steel mater with more tfwn
      Source: Reuters  -  384 words
    • Article
      Lock icon Arcelor-Mittal a giant with 10% market share
      880 19 It will have three times the capacity of its nearest rival Nippon Steel and US$70b in revenue NYT AP Bloomberg [LONDON] The U5533.6 billion euro agreement to pair Arcelor with rival Mittal Steel after a bitter batfle caps a wrenching turnaround for Arcelor's
      NYT; AP; Bloomberg  -  880 words
    • Article
      Lock icon Abramovich and Mordashov may team up
      420 19 Reuters [MOSCOW] Severstal owner Alexei Mordashov may challenge Arcelor's rejection of a proposed merger in court or by raising his bid for a share of the world's largest steel maker, market sources and analysts said yesterday. A third option for Mr Mordashov, Russia's sev-enth-richest
      Reuters  -  420 words
    • Article
      Lock icon Microsoft plans to blend phones with computers
      383 19 But it may find it tough to get out its offerings quickly NYT [SAN FRANCISCO] Microsoft was planning to offer a strategy yesterday describing how it intends to transform the telecommunications world in much the same way it changed the computing world in
      NYT  -  383 words
    • Article
      Lock icon Phelps Dodge to buy Inco, Falconbridge for about US$40b
      386 19 Reuters [NEW YORK] Phelps Dodge is acquiring Inco and Falconbridge for about US$4O billion in a blockbuster deal to create a top global copper and nickel miner. Phelps Dodge said yesterday that it would buy Inco for C 580.13 per share
      Reuters  -  386 words
    • Article
      Lock icon Sales of new US homes increase 4.6% in May
      500 19 LATEST US DATA AP Reuters [WASHINGTON] Sales of new US homes rose in May, surprising economists who had been forecasting that housing would slow down because of rising mortgage rates. The Commerce Department reported that sales of new single-family homes increased
      AP; Reuters  -  500 words
    • WORLD WATCH
      • Article
        Lock icon Johnson & Johnson close to Pfizer buy
        94 19 Johnson Johnson close to Pfizer buy NYT [NEW YORK] Johnson Johnson, the health care conglomerate, is close to a deal to expand its household presence by purchasing the consumer unit of Pfizer, which markets well-known brands like Listerine mouthwash and Sudafed, the cold and allergy medicine, for more than US$l6
        NYT  -  94 words
      • Article
        Lock icon Scrap media law changes: Murdoch
        84 19 Bloomberg [SYDNEY] News Corp chairman Rupert Murdoch said the Australian government should scrap its planned changes to media ownership laws unless they provide equal opportunity for all media companies. Mr Murdoch was at a luncheon in Sydney yesterday, where he was named most influential Australian
        Bloomberg  -  84 words
      • Article
        Lock icon KDDI, BT in global joint venture
        77 19 Reuters [TOKYO! Japan's KDDI Corp and Britain's BT Group will form a venture to provide and manage 1 communication networks for Japanese companies operating globally. The 50-50 venture will start on Aug 1 and for a start, target 5 billion yen (Ss69 million) in
        Reuters  -  77 words
      • Article
        Lock icon Oil company Rosneft unveils IPO pricing
        72 19 AP [MOSCOW] State-owned oil company OAO Rosneft unveiled the pricing yesterday for an IPO it hopes will raise over US$lO billion in Russia's largest N share offering ever. Rosneft values itself at US$6O-80 billion its promise founded on the opaque and politically charged purchase
        AP  -  72 words
      • Article
        Lock icon East Timor PM resigns on calls to step down;
        69 19 AP [DILI, East Timor] East Timor's prime minister i resigned yesterday, setting off celebrations in the violence-scarred capital and raising hopes for an end to the nation's political crisis. Prime Minister Mari Alkatiri, battling that he formed a hit squad to
        AP  -  69 words
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      92 19 Our qualified professionals can assist you with offshore structures, shelf companies and incorporations in ALL jurisdictions including: 0-"« British Virgin Islands Cayman Islands ..Tjfcahamas Mauritius •Z> Hongkong Samoa Full nominee, management, secretarial, banking and corporate administration services are available. We also specialize in offshore trusts for assets protection estate planning.
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  • AVIATION
    • Article, Illustration
      Lock icon Virgin Atlantic profit doubles on premium traffic
      431 20 It says business passengers rose 10% with new upper-class facilities Reuters [LONDON] Richard Branson's Virgin Atlantic Airways, which has triggered a price-fixing inquiry into arch-rival British Airways pic, posted a doubling in yearly profits yesterday after attracting more business travellers. Virgin's annual results
      Reuters; REUTERS  -  431 words
    • Article
      Lock icon MAS to meet target of cutting 2006 loss: MD
      228 20 Bloomberg AFP [KUALA LUMPUR] Malaysian Airline System Bhd, the nation's biggest carrier, said it will meet its goal of narrowing losses in 2006 as it gets RMI billion (***** million) from increasing sales, cutting costs and selling assets. "We beat our
      Bloomberg; AFP  -  228 words
    • Article
      Lock icon Transmile, DHL sign 5-year network pact
      120 20 Bloomberg [KUALA LUMPUR] Deutsche Post AG's DHL Worldwide Express signed a five-year network alliance with Transmile Group Bhd, a Malaysian air transport company, extending their ties to tap growing demand in Asia and other markets. "The initial five-year agreement will allow DHL the flexibility
      Bloomberg  -  120 words
    • Article, Illustration
      Lock icon Delays could be costly for Airbus
      680 20  -  NEWS ANALYSIS But mass cancellations of the A380 are unlikely VEN SREENIVASAN Senior Correspondent COULD Airbus face a slew of order cancellations for its A3BO planes following its recent revelations that deliveries may be delayed by another six months? At least two customers have
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    • Article
      Lock icon AIRCRAFT ARRIVALS AND DEPARTURES
      2154 20 CITY niCHT ETA KMT «TD HZ4355 0735 EK405 0210 SQ493 0735 EK433 0300 LH9771 1750 AWOrt 2215 «352 2225 S3 ill «ES il w BA7381 1850 IM9770 2345 I* 432 2005 OT1 Sg RiiHSt tSBR SH LH6765 1350 "1"°" ArSSi LH976i 0635 *****8 1350 fo§3 0§0
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      137 20 BT/ZUJI Deals of the Week 'sr '^K ■HL mm BUSINESS (from ECONOMY (from J HOTEL (from S) London $3,150 $850 > $170 Thai Airways KLM j OESIffWnONS BUSNfcSS CLASS (from S) ECONOMY PASS (from HOTEL (from WEATHER Bangkok $619 Thai Airways $148 Swiss W1 $42 4fe> Hanoi $538 Vietnam AMnes
      137 words
  • Page 20 Miscellaneous
    • Miscellaneous
      Lock icon Page 20 Miscellaneous Column 1
      213 20 CRYPTIC CROSSWORD which delivery important (9)^ 30 Engaged in daydreaming and Bltis as far as trainees can go! (5) having a misty outlook (4,2.3,6) (7.8) YESTERDAY'S SOLUTION nrajuiu 15 Leader of ensemble left Roches- vT c>.x ter replaced by a band (9) Across: 4 Appraise 8 Newish, 9 1 Struggle-
      213 words
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  • SHIPPING
    • Article, Illustration
      Lock icon World shippers' group slams Asian shipowners
      527 21  -  Owners accused of wanting anti-trust immunity for self preservation By DONALD URQUHART [SINGAPORE] The world's largest shippers' body has accused Asian shipowners of acting in their own interests and not those of consumers, as the shippers keep up the pressure to end carriers' anti-trust
      527 words
    • Article
      Lock icon AB Ports plans meeting on Goldman takeover
      320 21  -  By DONALD URQUHART [SINGAPORE] With the anticipated bidding war for the UK's largest port group, Associated British Ports (AB Ports), failing to materialise, the group has announced a July 18 shareholders meeting to gain approval of its acquisition by a Goldman Sachs-led consortium.
      320 words
    • PORT SHOTS
      • Article
        Lock icon Waertsilae wins 300m euro motor orders
        66 21 Bloomberg [HELSINKI] Waertsilae Oyj, which makes engines that propel one in three of the world's ships, said it won orders worth 300 million euros (Ss6o3 million) for motors used in gas tankers and generators on offshore rigs. The contracts include engines for 26 liquid-natural-gas
        Bloomberg  -  66 words
      • Article
        Lock icon Daewoo's Romania yard to build 4 vessels
        90 21 AFP [SEOUL] South Korea's Daewoo Shipbuilding and Marine Engineering said its shipyard in Romania had secured US$2BO million in new orders to build four container ships for two German clients. Daewoo Mangalia Heavy Industries would build two Panamax carriers for Gebab Holding and
        AFP  -  90 words
      • Article
        Lock icon S. Africa to spend 11b rand to upgrade ports
        69 21 Bloomberg [JOHANNESBURG] South Africa's state-owned port operator plans to spend 11 billion rand (552.6 billion) upgrading ports in Africa's largest economy over the next five years. The company will buy new equipment and increase the capacity at its major ports including
        Bloomberg  -  69 words
    • Article, Illustration
      Lock icon Clean-up completed at freighter's wreck site off Alaska
      294 21 AP [ANCHORAGE. Alaska] Workers have completed the clean-up and removal at the site of a wrecked Singaporean freighter that ran aground more than a year ago. The 738-foot Selendang Ayu was travelling to China with a load of soybeans in December 2004
      AP  -  294 words
    • Article
      Lock icon TRANSPORT STOCKS
      262 21 sex 'om )un2S S$ Vol CH Offshore .0.35 0.01 81 ChuaoHup .0.33 unch 871 Coko Corporation 1.23 unch 2S43 CWT Distribution 1 JO 0.05 367 EzraHkks. .2.07 0.09 360 Freight Links 0 06 unch 1883 Grand Banks Yacht 0.91 0.01 33 Jaya Holdings 1.34 0.04 601 K1 Venture
      262 words
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      160 21 i' "I 1-C j "IT*% I If > Cv.fe Nt 'i *^J'" *"'•>?'• fc-''' fe.' j£-S§ F*-'% .~*t" '<; vi!'*" fP*'- s, jjp J FROM AIR AND OCEAN FREIGHT THROUGH VALUE-ADDED SERVICES TO SUPPLY CHAIN MANAGEMENT- \3 k p. r I mm ir7> B m m m m H I
      160 words
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  • EDITORIAL & OPINION
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      Lock icon Umno troubles won't hit M'sian economy
      503 22 EDITORIAL THE war of words between former Malaysian premier Mahathir Mohamad and the administration of his successor Abdullah Ahmad Badawi has understandably attracted much attention. The former prime minister's persistent attacks on Mr Abdullah's decisions to reverse some key policies and projects, especially the
      503 words
    • Article, Illustration
      Lock icon Thai dam casts shadow over Asia water wars
      1070 22  -  Anti-dam campaigners say it damages fish stocks, uproots communities and hurts livelihood By DARREN SCHUETTLER Reuters Mekong fish don't jump. It was one of the many hard lessons learned at Thailand's Pak Mun Dam, a minnow as dams go, but it casts
      Reuters; REUTERS  -  1,070 words
    • Article, Illustration
      Lock icon US-Europe relations improved but still fragile
      767 22  -  THE BOTTOM LINE SHADA ISLAM Brussels Correspondent FORGET transatlantic squabbles over the 2003 US-led Iraq invasion and the accompanying tough talk by European Union (EU) leaders on making the 25-nation bloc a "counterweight" to the United States. EU and US officials now talk glowingly
      767 words
    • Article, Illustration
      Lock icon Unsettling tale of East vs West
      885 23  -  The drama surrounding Mittal Steel's bid for Arcelor Steel shows a deep-seated nervousness about globalisation By ANAND GIRIDHARADAS IHT FOR Lakshmi Mittal, the Indianborn steel magnate, Sunday's deal to acquire rival Arcelor caps decades of effort to rise from obscurity to build a global
      IHT; AFP; BLOOMBERG  -  885 words
    • Article, Illustration
      Lock icon Two sets of expectations ahead of Fed meeting
      997 23  -  CAROLINE BAUM Bloomberg I H f HEN US Federal Rem M\ K serve policy-makers |H M m meet later this week, Jkmt If they will be faced with g W W two different and conjicting sets of expectations. .4] The first set
      Bloomberg  -  997 words
    • Article
      Lock icon More healthcare subsidies needed
      354 23  -  LETTER TO THE EDITOR Leong Sze Hian Singapore ACCORDING to the Ministry of Health's website, subsidies for subsidised patients have been rising from $560 million in 1997 to $1.39 billion in 2005. Particularly for the poor, increases in subsidies may need to be viewed in the
      354 words
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  • Article
    Lock icon SINGAPORE STOCKS
    10501 24 SGX MAINBOARD Transaction date: Jun 26 52-Wk Td La>t Vol Day Last Quote GrOfc Mv GrVM IM MCap U» Coda Comply Sale fOOBt Wfc low Bayer Sa»ar Cw nt Swfc 4 1 5716 1st Software 5c 2.5 2 3 10.1 16 6 3148 STelecom US2c 7 unch 130
    10,501 words
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  • Article
    Lock icon FINANCE & COMMODITIES
    6275 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In SS la USS %dy *yr dy yr %dy *yr J"" 23 Index Change Change Change Change Change Change The World Index Preliminary 963.2 00 -0.7 -0.2 -2.5 -0.2 1.5 »EAft Preliminary 966.9 0.0 -0.6 -0.4 -0.3 3J8 Europe Preliminary
    6,275 words
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      1289 26 UK CONTINENT SERVICE U.B.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 MIPPLE EA ?T SERVICE F.E./S.E.A. SERVICE Destination BEL ANNA D6I/ABU/DOH/BRN/DMM/KWT Destination ASEAN EXPRESS DBI/ABU/DOH/BRN/DMM/KWT STX PO TBN INC/BSN Loads Singapore, E./W. Malaysia, Indonesia Loads E. Malaysia,
      1,289 words
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      672 26 p] DON6NAMA LINE coHTMHmmp BinYKii VESSEL (EVERY SUN) VOY ["SOP HKG ROU HAMAH HU237 02/07 04/07 HOT* HARMUM HMI3OI 09/07 13/07 KOTAHASR HAS 427 14/07 N/07 VBSaOVBTSUN) VOY SOP HK AT IH M MOLURBITY ***** 01/07 04/07 10/07 11/07 11/07 ■aronuK at 174 00/07 11/07 17/07 11/07 N/07 MOL GLORY
      672 words
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      735 26 V&N WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobol.com VKSa VOY RAMP HBOHT LBC MAO SAY lAI Og TAMISIS AM JO 3201 mm 6.4 M 07/07 30/07 00/01 12/01 16/00 14/00 TAMPA AM2I 4201 m i.4M IS/07 00/00 10/00 22/00 26/00 24/00 TAHAGO AF623 320Tms 6.4 M 07/ M 30/00 00/00 12/00 16/09
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      722 27 WAN HAI INTERNATIONAL PTE LTD «*>= ll*»imil/» \AM\WAN HAI LINES Y V "nil ■mi fcllVfcl# m TO: (03)*****111 MX: (03)U4B2Mmm: *4) 22*5400 MX: 04)22«0M V JOH IB: (07) 251W23 FAX: (07)*****11 SUIHL (031) 32*5475 MIL' (031) 32VZ714/ *****05 WWW.Wonkai.Com.Sg *T1H:|021) ***** M MX: mi) ****** nil II: *****1/71 *311 MX:
      722 words
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      Lock icon Page 27 Advertisements Column 2
      1169 27 VISSIL VOY PKL SIN KARACHI I DX» BAB WHS PMM MK Bjgg 1 WESTIRNSTAR PCI 1146 01/07 30/06 08/07 11/07 IRAN BAABAEI PCI 1143 03/07 04/07 13/07 16/07 17/07 23/07 25/07 27/07 IRAN KORPtSTAN Ptt 1143 06/07 09/07 18/07 21/07 122/07 21/07 30/07 01 /OB BBS VOY SIN NHAVA $HIVA
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      Lock icon Page 27 Advertisements Column 3
      834 27 W WEEKLY EXPRESS SAIUNG SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AMD WESTERN ICP POINTS VtSStl I VOY SIN P-JOANC COLOMIO N. SHIVA COLOMBO lOTA PHTAMA YPMC39 27JUN 28 JIIM [Oil QLUiI U iriff iF-iFHF HAJtV SAHDHI 0105W 25 Jilt 26 JUL 1 30 JUL 2SJUH 02 JUL KX MMOVU ALSO
      834 words
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  • THE BUSINESS TIMES SHIPPING TIMES
    • Article
      Lock icon THE BUSINESS TIMES SHIPPING GUIDE EXPORT
      5570 28 This ETA ETA Advtrtitar Vessel Voyaf* Telephone ETA ETA Adyvtkar Vessel Voyy Telephone .*7?.>•...::.-V:• f'x.v.-• g •;SSKSS y.l&gg&ggt 23/07 05/08 Nortrans THOR MERCURY 6X16 *****776/86 TO ABIDJAN (ABJ) 2003 Cote D'lvoire 24/07 01/08 INS Shpg COSCO DAMMAN 013W *****250 06/07 16AM China Shpg NEW
      5,570 words
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  • PROPERTY
    • Article
      Lock icon Lend Lease targets US community projects
      513 29 It is selling 2 new unlisted property funds; launching listed Reits soon Bloomberg [SYDNEY] Lend Lease Corp, Australia's biggest property developer, will start creating residential communities in the US and form real estate investment trusts to bolster profit growth, chief executive officer Greg Clarke
      Bloomberg  -  513 words
    • Article
      Lock icon UK house price rise at 1 -1/2 year high: poll
      177 29 Reuters [LONDON] British house prices rose at their sharpest annual rate in 1-1/2 years in June, helped by continuing strong gains in London, a survey showed yesterday. Property consultant Hometrack said house prices rose 2.4 per cent in the year
      Reuters  -  177 words
    • Article
      Lock icon More Asian Reits expected in next 12 months
      438 30  -  Entire property market will do well, says RREEF By UMA SHANKARI THE world's biggest property fund manager, RREEF, is upbeat about the Asian property market including the real estate investment trusts (Reits) which took a beating last month when their share prices
      438 words
    • Article
      Lock icon Forbes honours Li Ka-shing
      277 30  -  By OH BOON PING HONG KONG property tycoon Li Ka-shing, 78, has been named the first recipient of the Malcolm S Forbes Lifetime Achievement Award for his entrepreneurship and business success. The award, which honours a lifetime of achievement in entrepreneurial capitalism, is open to entrepreneurs
      277 words
    • Article
      Lock icon Riverside hotel site put up for tender
      305 30 THE Urban Redevelopment Authority (URA) has launched a hotel site at Clemenceau Avenue and Unity Street for sale by public tender after an unnamed developer committed to bid at least $25 million two weeks ago. Judging by its location, Hok Yean Chee, executive
      305 words
  • Page 29 Advertisements
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      217 29 Quality Business Space @Tai Seng I Modern 5-storey light industrial building Prominent location at junction of Airport Road Suitable for MNCs SMEs Ideal for production, warehousing office Large floor plates: 7,200 sq ft to 36,200 sq ft Easy access to PIE KPE Attractive rental available immediately 8100 0129/9237 7888 RCS
      217 words
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      Lock icon Page 29 Advertisements Column 2
      498 29 FREEHOLD RESIDENTIAL SITE THOMSON ROAD (DIST.II) CONCORDE RESIDENCES r"l FOR SALE BY TENDER BALESTIER 4 concorde CO gf rr 34,092.57 sq ft RESiDENCES f m BRIGHT a to P,E "J 6 *Plot ratio 2.8 (up to max 36 storeys) pA i ggttE* 'Few mins wa,k t0 Novena *Few mins drive
      498 words
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      359 30 PRIME COMMERCIAL FOR SALE BY TENDER WAYFOONG BUILDING 248 24C Cheong Chin Nam Road 6 milestones Upp Buklf Tlmah Rd opposite Bt Tlmah Shopping Centre, r Next to Courts, Bt Tlmah m Two floors of office space 3rd level 4th level COURTB *To be sold on a separate tender basis
      359 words