The Business Times, 30 June 2006

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Total Pages: 36
1 36 The Business Times
  • 20 1 THE BUSINESS TIMES Friday, June 30,2006 SINGAPORE 85 cents online at http://business-times.asia 1 .com.sg i—win mi MICA (P) 099/03/2006 ui
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  • 747 1  -  Demand for these bankers here outstrip supply as assets under management hit US$200b By GENEVIEVE CUA [SINGAPORE! There is quite a bit of money to be made by individuals with the skills needed to help the seriously rich look after their assets.
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  • 138 1 sn 2,386.77 (+35.97) ST INDEX FUTURES 2,387.00 (+36.00) siMsa 284.03 (+3.88) SIMSa FUTURES 284.00 (+3.60) MARKETS Thursday Change KLSECOMP 910.54 +3.64 NIKKEI 225 15.121.15 +235.04 HANG SENG 15.865.22 +122.56 SET INDEX 670.71 +3.91 JAKARTA COMP 1,274.74 +2.69 MANILA COMP 2,084.62 +18.56 SEOUL COMP 1,263.02 +24.31 SHENZHEN B 293.37
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  • 589 1  -  Tournament could boost lifestyle tourism in S'pore By GEOFFREY EU [SINGAPORE] The government has given in-principle approval for a high-stakes poker tournament to be held at a local hotel in November. The tournament with a projected prize pool of over US$2 million is the
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  • Page 1 Advertisements
    • 54 1 M WORLD CUP 2006 EXEC LIFESTYLE Catalonia's wine-maker extraordinaire PAGE 34 KsanraMHf mSgm Clipper Round The World Race AS TESTING GROUND i|BBB|S6jJPB@ BT journalist and sailor Vincent Wee on his experiences aboard the Uniquely Singapore PAGE 15 FED INTEREST RATES Get the US central bank's decision at http^business-times.asial.com.sg K- MY
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    • 12 1 COMMENTARY SIA not such a great way to fly nowadays PAGE 4
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    • 13 1 <m CFO INTERVIEW Hengxin Tfech's Loo \%i Lieh PAGE i£ 111 8 *****1'*****4
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  • TOP STORIES
    • 382 2 Benefits ahead for 'energetic' SMEs SMALL and medium enterprises that are "energetic" and can provide services to big companies will benefit from the national R&D plan, says Tony Tan, deputy chairman of the Research Innovation Enterprise Council. "Today, the trend is for companies to outsource as much of
      382 words
    • 729 2  -  New record predicted after $13b was chalked up in first half By KALPANA RASHIWALA [SINGAPORE] Property consultancies CB Richard Ellis and Knight Frank yesterday separately predicted that total investment sales of property in Singapore for the whole of this year
      Source: CB  -  729 words
    • 611 3  -  By WONG WEI KONG [SINGAPORE] OCBC Bank yesterday made a $1.28 billion offer to complete what it did not achieve two years ago: a complete takeover of insurance group Great Eastern Holdings (GEH). The bank is making a cash offer for the
      FILE PHOTO  -  611 words
    • 566 3  -  RIEC's R&D plan will aid SMEs that are 'creative' and 'nimble': Dr Tan By CHEN HUIFEN {SINGAPORE] Small and medium enterprises (SMEs) that are "energetic" and can provide services to big companies will benefit from the national R&D plan, according to Dr Tony Tan, deputy
      FILE PHOTO  -  566 words
  • Page 2 Advertisements
    • 412 2 people r includes Fortune 500 companies. www.thepeopleatwork com Asia-Pacific Executive Search nfcir t 1 i i#iiriiM| r**«* n ■>■■»• ■■unnnm ■<>■ ifc i*.«nAa mwi iii »< .«> mmmm rm uauaßauig GST and You: Industry-Specific GST Seminars 2006 Dates If you are in any of these industries: Thursday, 20 July 2006
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    • 24 2 Want the best deal? Invite tenders. Call 1800 289 8822 or email notices@sph.com.sg to book your tender notice in our newspapers now. MATSW; NOTICES
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  • Page 3 Advertisements
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  • COMPANY NEWS
    • 412 4  -  Buying unit Linmark's profit contribution pared by restructuring By UMA SHANKARI ROLY International has reported a 7 per cent fall in net profit for the year ended April 30, 2006, to U557.23 million, mainly due to poorer performance from subsidiary Linmark. The company,
      412 words
    • 590 4  -  HOCK LOCK SIEW By CONRAD RAJ THE recent spate of complaints over service standards at Singapore Airlines should be a source of concern for a company that proudly claims to be a "great way to fly". As reader Kenneth
      590 words
    • 970 6  -  S-Reits must be bigger to attract large global investors. ARTHUR SIM reports ARTHUR SIM THE Singapore Reit (S-Reit) sector experienced a significant price correction recently, but this could be just the wake-up call it needs. A report by Merrill Lynch forecasts average distribution per
      970 words
    • 45 6 [SINGAPORE] SGX CEO Hsieh Fu Hua leading a story-telling session during Day@SGX, a carnival organised for the |pmficiaries of the SGX fa fßun. The Bull Run is an iconic charity fun run along the Central Suiwiee&liie rw of« (t miik :*ndtr
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    • 167 6  -  By KRITI SINGH LIKE to bid for Mi's latest handsets and accessories from as low as $1? The telco has just launched what it calls a "fun and innovative" auction service. The first of its kind in Singapore, m-Auction is available for Mi's postpaid customers through its
      167 words
    • 392 6  -  $10.7m earnings on higher investment income and strong market conditions By VEN SREENIVASAN ROBUST market conditions and significantly higher investment income enabled mainboard-listed logistics company Freight Links Express Holdings to boost its full-year net profit by 13 per cent to $10.7 million, from
      392 words
    • 366 9  -  By OH BOON PING SNP Corporation has proposed to take SNP Leefung Holdings private, following a deal to raise its stake in the Hong Kong-listed subsidiary to 75.56 per cent from 70.93 per cent. The stake deal involves SNP acquiring from independent
      366 words
    • 412 9  -  Proposed net dividend of 11 cents a share; 1-for-1 rights at 11 cents a share By DANIEL BUENAS SPORTS and leisure group Superßowl Holdings has announced a proposed special interim dividend of 13.75 cents a share and a planned 1-for-l rights issue of up
      412 words
    • 316 9  -  It also declares dividends totalling 18 cents a share By DANIEL BUENAS KHONG Guan Flour Milling yesterday reported better-than-expected full-year results, helped by the sale of short-term investments, investment income and unrealised gains arising from adopting certain new accounting rules. The company
      316 words
    • 304 9  -  By UMA SHANKARI KEPPEL Land (KepLand) is all set to further extend its footprint in India. The company, which already has two condominium projects in Bangalore, will develop a "quality high-rise condominium" in Kolkata. KepLand announced yesterday that it has formed a
      304 words
    • COMPANY BRIEFS
      • 66 9 UNITED Fiber System Ltd (UFS) yesterday announced that it has secured a US$ 15 million loan facility from Natexis Banques Populaires. The company said the financing will be used for working capital and capital expenditure for Indonesian pulp mill PT Kiani Kertas which it is
        66 words
      • 55 9 810-TREAT Technology said its subsidiary Great Lucky was awarded a HK5750,000(*****,000) grant from the Hong Kong SAR government for a project to develop ozonated nanobubbling technology for water treatment. The project will be carried out in partnership with the Hong Kong Polytechnic University and is
        55 words
      • 42 9 SEMBCORP Logistics (SembLog) has acquired the balance 49 per cent stake, comprising of 1.9 million shares in SembCorp Logistics (Taiwan) Limited (SCLT) from Pacific Resources Technology Corporation for about $190,000 in cash, to be funded internally.
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      • 46 9 IPCO International yesterday reported a 133 per cent increase in net profit to $4.43 million, from $1.9 million previously, for its full year ended April 30, 2006. Revenues rose 28.7 per cent to $37.15 million from $28.86 million previously.
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    • 184 9  - Raffles Hotel Resorts appoints MD NEW APPOINTMENTS Reports by OH BOON PING RAFFLES Hotels Resorts yesterday appointed Diana Ee-Tan as managing director of Raffles Hotels Resorts and executive vicepresident of Fairmont Hotels Resorts, Asia Pacific. In her career in tourism and hospitality spanning more than 17 years, Mrs Ee-Tan has
      184 words
    • 235 9 KEPPEL Land has appointed Edward Lee, who is retiring as Singapore's ambassador to Indonesia, as an additional independent director from tomorrow. Mr Lee, 59, is a veteran of 36 years with the foreign service branch of the Singapore Administrative Service where
      235 words
    • 139 9 MIDAS Holdings, a manufacturer of aluminium alloy extrusion products and polyethylene pipes for the transport and infrastructure industries in China, has appointed Chan Soo Sen as an independent director. "A Member of Parliament, Mr Chan was previously Minister of State in the Ministry
      139 words
  • Page 4 Advertisements
    • 1607 4 CONSOLIDATED BALANCE SHEET C REGULATORY RATlOS^^^^^^^^^^^^) INTERNATIONAL CAPITAL ADEQUACY RATIOS In millions of euros, at 31 December 2005 2004 hllllnM nf 310gc 2005 1 Jan 2005 EUIFRS 2004IFRS In billions of earns siueczww untmn Shareholders' equity before appropriation of income 40.7 32.3 ASSETS Of which preferred and similar shares 2.4
      1,607 words
    • 135 4 IN THE MATTER OF ASIA PACIFIC FUEL CELLS PTE LTD (IN MEMBER'S VOLUNTARY LIQUIDATION) REGISTRATION NO. *****0152E NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act. Cap. 50. that a Final General Meeting of the members of the abovementioned Company will be held at 10 CollyerQuay, #21-01
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  • Page 5 Advertisements
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  • Page 6 Advertisements
    • 482 6 *< r 60 Reasons To Feast Again Savour delectable dishes in our popular '60 Dishes Deluxe Feast' such as Braised Shark's Fin Soup with Crabmeat. Shredded Pork with Garlic Chilli Sauce, Chengdu Diced Chicken with Spicy Bean Paste and many more. Lunch: Adult $35.80, Child $24.80 (Sat, Sun Public Holiday)
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  • SINGAPORE MARKETS
    • 519 8  -  STOCKS Rises in overseas bourses and firmer ST Index opening contribute to sentiment R SIVANITHY Senior Correspondent CAUTIOUSLY optimistic" is one of those phrases that people use when they don't want to commit themselves fully to a positive view, for fear of looking stupid if
      Source: Bloomberg  -  519 words
    • 1022 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Jun 29 and earlier) Subsantial No of Prke SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Stock Date Director Sell '000 Shr C000) C000) Asian Micro 29-Jun-06 Lee Kee Liew Buy 100 0.06 ***** 25.14 ***** 25.17 Semb Kimtrans 29-Jun-06 Tan
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    • Article, Illustration
      969 8  -  Compiled by MATTHEW PHAN Advance Modules Jun« 29 dose: Net traded (previous 550.27) UOB KAYHIAN, June 28 Qualification by external auditor. Deloitte Touche has qualified Advance Modules' audited financial statement for FYOS. In its auditors' report dated May 25,2006, it stated it is "not in a position" and
      Source: Bloomberg  -  969 words
    • 571 8 CURRENCIES Reuters [SINGAPORE] Asian currencies stuck to tight ranges yesterday, with traders reluctant to move ahead of this session's likely US Federal Reserve interest-rate rise and policy statement that could signal further increases ahead. The Philippine peso extended this week's falls
      Reuters  -  571 words

  • Page 9 Advertisements
    • 59 9 SA SA SA SA SA Ermenegildo Zegna LESALESALESALESALESA LE LE LE LE LE SA SA SA SA SA S ALE S ALE SALE SALESALE LE LE LE LE LESA SA SA SA A SALI SALE LE SALESALESALESALESA LE LE LE LE LE SA SA SA SA SA Paragon #01-34/35 Tel
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  • Page 10 Advertisements
    • 5488 10 NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.s( BUY IT SELL IT FIND IT mi MEGHMANI ORGANICS LIMITED NOTICE OF TWELFTH ANNUAL GENERAL MEETING NOTICE IS hereby given that Ttoelfth Annual General Meeting of the Company will be held on 31 July, 2006 at 10.30 a.m. at the Registered Office of the
      5,488 words
    • 1190 10 LOST SHARE CERTIFICATES The following shore certificates have been reported lost, destroyed or mislaid: Nome of Company Cetlifimle No. In Hie Nome of No. of Shore* ComfortOelGro *****34 Syed Hassan Bin Syed Abdullah 1 x 200 Corporation Limited -do *****13 -do- Ix4oo Lion Asiapac Limited *****65 Yom Yin 1 x
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    • 813 10 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF LKH PROJECT MANAGEMENT PTE LTD (In Membors' Voluntary Liquidation) Reg No. *****7464G NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 80 Marine Parade Road #18-05/09 Parkway Parade
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  • SINGAPORE NEWS
    • 445 11  -  FINANCE $30m over 5 years to groom execs with specialist financial skills By CONRAD TAN THE Monetary Authority of Singapore (MAS) yesterday unveiled a new scholarship programme to help the financial industry groom more professionals with specialist financial skills. MAS will set aside $30 million over
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    • 454 11  -  By GENEVIEVE CUA ASIAN candidates seeking the Chartered Financial Analyst (CFA) qualification are expected to make up 40 per cent of all candidates over the next five years, says CFA Institute (CFAI) president and chief executive Jeff Diermier. Asia-Pacific candidates accounted for
      454 words
    • 375 11  -  By WEE LI-EN SENIOR counsel Tan Chee Meng has been appointed the first Specialist Judge in a new scheme where leading members of the legal profession or academia are called to preside over cases in the Subordinate Courts. The scheme was initiated by
      375 words
    • 477 11  -  PROPERTY By KALPANA RASHIWALA POOR attendance at auctions in May and June, apparently because of the stock market rout and the World Cup, nearly halved the total value of properties sold at auction from $70.12 million in the first quarter to $37.35 million
      Source:  -  477 words
    • 376 11  -  By ARTHUR SIM A REDEVELOPMENT site in Collyer Quay has been launched for sale by public tender. The only site from the confirmed list of the Government Land Sales (GLS) programme for the first half of 2006, it includes Clifford Pier and the former
      376 words
    • 285 11 GREATER transparency in dental healthcare in Singapore could be on the way, if the new head overseeing dental services here has his way. Patrick Tseng Seng Kwong, who will be the new chief dental officer under the Ministry of Health (MOH), wants
      285 words
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  • ECONOMY WATCH
    • 571 12 Heightened risk aversion triggers selling across emerging markets Reuters [SINGAPORE] From Taiwan to Thailand and Malaysia, political strife across Asia is rising a fresh blow to regional currencies that have already taken a beating from the spectre of higher US interest rates. It
      Reuters  -  571 words
    • 685 12 Reuters [WASHINGTON] The US housing market is now tracing a clearly downward trajectory that economists say will steepen as interest rates rise, raising chances of a recession by early 2007. The key will be the extent to which the slowdown in sales activity translates
      Reuters; BLOOMBERG  -  685 words
    • 470 12 Bloomberg [SEOUL] South Korea will end a double taxation treaty with Labuan, allowing authorities to tax dividends and other gains earned by funds registered in the Malaysian island, the finance ministry said. The rule change will be applied to funds registered in Labuan
      Bloomberg  -  470 words
    • 201 12 Reuters [SEOUL] South Korea's central bank chief yesterday toned down hopes for growth in Asia's fourth-big-gest economy, comments the markets took as a sign that the recent rapid increase in interest rates was nearing its end. Bank of Korea governor Lee Seong-tae's cautious
      Reuters  -  201 words
    • 416 12 Reuters [PARIS] France, often regarded as hostile to foreign takeover bids, displaced the US as the world's biggest investor abroad last year, the Organisation for Economic Cooperation and Development (OECD) said on Wednesday. Britain, widely regarded as a place to
      Reuters  -  416 words
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  • Page 13 Advertisements
    • 285 13 ,^—aMtKt/tKh ,/^Mpp»>*' M i -"-T v »«ay t > SOMETIMES THE ROAD TO POWER IS PAVED WITH UNTOLD LUXURY. 1 WjmA Bk\ I I I. HRJ I llfekkt I IjMHP 1^ *'y 'T Sjj^^ -■:*>■<- ■V- v^ .c o^^■t. r? c v^^ The Lexus OS3OO. In luxury and performance, the
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  • WORLD CUP 2006
    • 616 14  -  By UMA SHANKARI Football fans will be getting ready to shout themselves hoarse come 11pm tonight, when hosts Germany take on Argentina in the first quarter-final match of the World Cup. The encounter promises to be a match worthy of a Cup final itself. Both
      616 words
    • 351 14 Reuters [DUISBURG] Ukraine striker Andriy Shevchenko is the main threat to Italy's hopes of reaching the World Cup semi-finals but at least they know all about him. Shevchenko, playing in Ukraine's first finals, was the darling of AC Milan fans during seven seasons in
      Reuters  -  351 words
  • Page 14 Advertisements
    • 944 14 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. (11pm, tonight) The competition is now
      944 words

  • KEPPEL.CLIPPER – ROUND THE WORLD
    • 1422 15  -  A dying wind and rivals closing in leave no room for mistakes, writes BT journalist and sailor VINCENT WEE aboard Uniquely Singapore VINCENT WEE THE ninth sector of the Clipper 05-06 Round the World Yacht Race from Panama to Jamaica turned out to be a
      INGRID ABERY  -  1,422 words
    • 247 15 [PORT ANTONIO, Jamaica] The crew and skippers of the Clipper 05-06 Round the World Yacht Race experienced a taste of Hollywood on June 20 as Patrice Wymore Flynn, widow of the legendary 1950s movie star Errol Flynn, made a star appearance at the Clipper 05-06 Round
      INGRID ABERY  -  247 words
  • Page 15 Advertisements
    • 45 15 This series is brought to you by Keppel Corporation CARIBBEAN A T KfPPfL 6 ft Y .h. r j .ji i J r ij\ mt i ill »rp- ii rii t»t -v •■-'.j.u, wnrrftoi. 'i I" 1 away- presents a waterfront lifestyle like no other.
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  • MALAYSIA
    • 542 16  -  Earnings jump comes on record revenues of RM166.9b By S JAYASANKARAN in Kuala Lumpur ANALYSTS estimate that if Malaysia's state-owned oil company Petroliam Nasional, known as Petronas, was a listed company, it would be valued at around US$25O billion today. It could be
      REUTERS  -  542 words
    • 458 16  -  By PAULINE NG in Kuala Lumpur FORMER Malaysian deputy premier Anwar Ibrahim believes the public spat between Prime Minister Abdullah Ahmad Badawi and his predecessor Mahathir Mohamad has split Umno, Malaysia's dominant ruling party. "I believe the party is in turmoil never mind
      458 words
    • 332 16 IKUALA LUMPUR] Telekom Malaysia said yesterday it was among several parties being sued by Tajudin Ramli for RM13.4 billion (Sss.B billion). Mr Tajudin, who is a former chairman of Celcom (Malaysia) Bhd, the mobile arm of Telekom Malaysia, was launching the action against
      BLOOMBERG  -  332 words
    • 2364 16 vol General Corp .0.58 0.02 106 —i W- f»» Genting ...73.80 -0.10 511 George Kent .0.49 unch 51 ASM Realty 1.35 unch 0 GHL Systems 0-23 0«1 2209 Abnc .036 0.01 80 GtobetronksTedi 0.32 -0.01 120 ACP Industries .0.91 0.01 48 GlomacBhd 1.17 0.02 71 Advance Synergy .0.19
      2,364 words
    • BRIEFLY ASIA
      • 130 16 Reuters [JAKARTA] Shareholders of Indonesia's second largest telecommunications company, PT Indosat Tbk, yesterday approved a 2005 dividend payment of 149.32 rupiah (three Singapore cents) per share. That works out to a total dividend payout of 810 billion rupiah, or 50 per cent of Indosat's net profit
        Reuters  -  130 words
      • 118 16 [HONG KONG] Hong Kong's largest property trust Link Reit—yesterday beat forecasts with a maiden dividend 10 per cent higher than it had promised, as it booked higher income and lower costs. It reported a distributable income of HK$467 million (5595.9 million) from its Nov 25,
        118 words
      • 98 16 AP [HONG KONG] China has agreed to further open its economy to goods and services from Hong Kong under an expanded free trade agreement that aims to strengthen economic ties between the mainland and the territory. The free trade pact called the Closer Economic
        AP  -  98 words
      • 88 16 Xinhua [JAKARTA] The Indonesian government will hold a tender next year to select contractors to construct the country's first nuclear power plant, The Jakarta Post reported yesterday. Energy and Mineral Resources Minister Purnomo Yusgiantoro said investors interested in bidding should have a proven
        Xinhua  -  88 words

  • GREATER CHINA
    • 443 17 Equipment makers selling stakes to foreigners must consult government Reuters [SHANGHAI] Key Chinese equipment makers selling stakes to foreigners must first consult the central government, Beijing said yesterday, a concession to domestic critics who complain the country has been selling off strategic companies too
      Reuters  -  443 words
    • 518 17 Bloomberg [HONG KONG] China may allow the sale of yuan bonds in Hong Kong to support the city's status as an international financial centre, the head of China's top government advisory body said yesterday. The country's Cabinet is studying measures including
      Bloomberg; REUTERS  -  518 words
    • 253 17 Reuters [BEIJING] Chinese exporters are increasingly seeking to settle their trade in currencies other than the US dollar to hedge against fluctuations in the yuan, a state newspaper reported yesterday. Citing a survey by the central bank, the official International Business Daily said
      Reuters  -  253 words
  • Page 17 Advertisements
    • 740 17 4s Quality Malls TRUST Jk R |MMO^ (a real estate investment trust constituted on H Mmß H_ H_H s^^ 5 June 2006 under the laws of the Republic of Singapore) VI Vi H VI V Wk VWH ißßu# it, II fll un I, gfi jitTy Mht SB^^BESStfr-^rrr REASONS TO INVEST
      740 words

  • INDIA
    • 419 18 Talks are in an advanced stage for up to 10% stake in NCDEX, says source Reuters [MUMBAI] US investment bank Goldman Sachs is close to buying up to 10 per cent in an Indian commodity exchange in probably its biggest deal after it decided
      Reuters  -  419 words
    • 548 18  -  By SIDDHARTH SRIVASTAVA in Mumbai AN EMPLOYEE at HSBC's Bangalore call centre has been arrested after more than £230,000 (*****,680) were embezzled from the accounts of British customers. Europe's largest bank plans to initiate separate legal proceedings against the man, who is believed to have
      548 words
    • 250 18 Economic Times [BANGALORE! On Monday, Infosys Technologies saw 2,000 new recruits reporting for duty for the first time on a single day. That's bigger than what most companies in India have employed in their entire lifetime. And that's a
      Economic Times  -  250 words
    • 5792 18 UNIT TRUSTS FUNDS acmgi Am income a usd 8.2* ACMGI Amr Income B USD *29/ ACMGI Amer Income A EUR Ml/ AM Amro Asset Mgt (S pore) ACMGI Amer Income B EU« Ml/ Sttr Europe Eqtyf 0J97/ ACMGI Europ home Opp AT SGD 14.84/ Star Europe Bond .1.1® ACMGI Europ
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  • ASIA-PACIFIC
    • 588 19  -  Fukui may step down by Aug, say sources; Cabinet backs him again By ANTHONY ROWLEY in Tokyo AS POLITICAL pressure continued to mount yesterday for the resignation of Bank of Japan (BOJ) governor Toshihiko Fukui over his controversial personal financial dealings, informed
      REUTERS  -  588 words
    • 417 19 Bloomberg [SYDNEY] Telstra Corp will not build a As3.4> billion (Ss4 billion) fibre-optic network unless regulations allow the telephone company to generate an adequate return, chief executive Sol Trujillo said. "We won't invest unless we achieve regulatory settings that will permit Telstra's 1.6 million
      Bloomberg; BLOOMBERG  -  417 words
    • 427 19 Bloomberg [TOKYO] Trading in Japan's government bond market, the world's biggest, came to a standstill yesterday after a computer malfunction at a fixed-income broker. Japan Bond Trading Co, the nation's largest interdealer broker, stopped trading for two hours and 25 minutes because of the
      Bloomberg  -  427 words
  • Page 19 Advertisements
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  • WORLD
    • 608 20 Move ends speculation that Apple's Steve Jobs would get the post Reuters [LOS ANGELES] Walt Disney Co on Wednesday said former Procter Gamble chief executive John Pepper will become its chairman next January, replacing former US Senate Majority leader George Mitchell, who played
      Reuters; REUTERS  -  608 words
    • 292 20 Bloomberg [NEW YORK] US carmakers will double production of vehicles that run on ethanol and other renewable fuels by 2010, to at least 2 million annually. The pledge was made on Wednesday in a letter to all members of Congress from GM
      Bloomberg  -  292 words
    • 636 20 Bloomberg [WASHINGTON] Henry Paulson won Senate confirmation as US Treasury Secretary by playing it safe on issues from China's currency to deficits and taxes. Mr Paulson, sounding much like departing Treasury Secretary John Snow, was endorsed on Wednesday after
      Bloomberg; AP  -  636 words
    • 342 21 AFP [BANGKOK] Thai Prime Minister Thaksin Shinawatra warned yesterday that renewed political uncertainty was taking a toll on the economy, which would grow by about 4 per cent this year, the lower end of government forecasts. "Now there are some signs of worry, including lower
      AFP  -  342 words
    • WORLD WATCH
      • 85 21 Bloomberg [MANAMA] Bahrain's central bank plans to implement new licensing rules for banks operating in there as it seeks to fend off competition from neighbours such as Dubai and Qatar. The regulations, from tomorrow, will simplify licensing categories. Banks licensed as offshore entities will now receive
        Bloomberg  -  85 words
      • 62 21 Bloomberg [NEW YORK] Apple Computer may delay introduction of its newest iPod music and video players, American Technology Research analyst Shaw Wu said. Release of the widescreen vPod may be put off until the first half of 2007 from the fourth quarter of this
        Bloomberg  -  62 words
      • 60 21 AP [TOKYO] Japanese electronics maker Sharp Corp said yesterday it will pay 300 million yen (554.12 million) in back taxes after being accused of hiding income over three years. The investigation was brought by the Osaka Taxation Bureau and covers the three
        AP  -  60 words
    • 252 21 Reuters [FRANKFURT] Ford Motor Co faces stronger headwinds than it anticipated when launching a turnaround plan but has ruled out seeking court protection from creditors, its chief executive was quoted as saying in the Wall Street Journal yesterday. In an interview with the
      Reuters  -  252 words
    • 446 21 Reuters NYT [WASHINGTON] The Securities and Exchange Commission caved in to political pressure and blocked an investigation when evidence suggested a prominent Wall Street executive tipped off a hedge fund about a pending merger, a former SEC attorney told US senators on Wednesday.
      Reuters; NYT  -  446 words
    • 418 21 It has to remove offending ads from all its other sites AFP Reuters [PARIS] A French court yesterday fined Google 300,000 euros (*****,320) for publishing online ads openly offering illegal copies of Louis Vuitton bags. The Paris appeals court also ordered the US Internet
      AFP; Reuters  -  418 words
    • 589 21 Fastest growth in 2½ years and stronger than previously thought AP [WASHINGTON] The US economy sprang out of a year-end rut and zipped ahead in the opening quarter of this year at a 5.6 per cent pace, the fastest in years and even
      AP  -  589 words
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    • 57 21 SMS"sphnews"to7lll7 A You'll receive a cost-free SMS message with WAP link to SPH Mobile News Click on WAP link to access A Choose "Breaking News"at $5/mth y y/f Note: Sing Tel subscribers can simply call *156 to subscribe. PDA devices must have GPRS/Wi-Fi connection. f*\m Singapore Our partners: Sing Tel
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  • AVIATION
    • 618 22 It is flying into new routes and replacing old aircraft Bloomberg [SINGAPORE] Silk Air, the regional unit of Singapore Airlines Ltd, is in talks with planemakers including Airbus SAS and Boeing Co to buy as many as 20
      Bloomberg; FILE PHOTO  -  618 words
    • 221 22 AFP [PARIS] The European Aeronautic Defence and Space Company (EADS) has filed a lawsuit here against unknown persons for the theft and disclosure of confidential draft documentation from its auditing service, the European aerospace group said yesterday. "Further to the use of EADS
      AFP  -  221 words
    • 196 22 AFP [CHICAGO] Boeing said yesterday that it will take some US$l billion in charges in the second quarter for delays on a surveillance programme for Australia and Turkey, and a tentative legal settlement with the US government. The Boeing Company said the charges
      AFP  -  196 words
    • 381 22 AFP [SHANGHAI] China Eastern Airlines, one of China's three largest carriers, said on Tuesday it has finalised an agreement to buy 30 Airbus A 320 aircraft for 13.9 billion yuan (Ss2.B billion). The new aircraft will be used to meet rising
      AFP  -  381 words
    • 299 22  -  By VEN SREENIVASAN [SINGAPORE] Tiger Airways is teaming up with online budget accommodation company Hostelworld.com to offer passengers beds in the airline's destination cities. "This niche will cater nicely to a significant category of our passengers, namely youths and budget travellers," said Tiger Airways
      299 words
    • 298 22  -  By VEN SREENIVASAN [SINGAPORE] SriLankan Airlines has reported a more than 100-fold jump in net profit for financial year 2005/06, to 797.93 million Sri Lankan rupees (5527.5 million) from 7.66 million rupees a year ago despite tough challenges. "This was yet another
      298 words
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  • SHIPPING
    • 500 23 Babcock Brown eyes Europe airports, sea ports Australian investment bank may also start two funds in Europe Bloomberg [LONDON] Babcock Brown Ltd, Australia's sec-ond-largest investment bank, may buy European airports and sea ports as it seeks more profitable deals beyond its home market. The bank is also looking to raise
      Bloomberg  -  500 words
    • 203 23 Reuters [SINGAPORE] Ezra Holdings Ltd, which operates anchor handling vessels that support the offshore oil industry, will double the size of its fleet by December 2007, its managing director said. Lionel Lee said Ezra will have a fleet of 24 anchor
      Reuters  -  203 words
    • 184 23 Bloomberg [SEOUL] Hyundai Merchant Marine Co, South Korea's largest shipping line by market value, has denied a report that it was planning to sell preferred stock to investors friendly to its management, as it looks to fight off a takeover. Hyundai
      Bloomberg  -  184 words
    • 186 23 Reuters [CARACAS] Venezuelan authorities on Wednesday reopened the Lake Maracaibo ship channel following a fuel tanker grounding reported on Tuesday, Maracaibo's port captain said. "Movement through the ship channel has been restored, but the vessel has not been moved," Capt Edgar Gonzalez said. He
      Reuters  -  186 words
    • 950 23  -  ADMIRALTY CASEBOOK By SELVA KUMAR THE Singapore High Court recently upheld a marine insurer's claim for reimbursement of salvage expenses, ruling that the policy holder had breached a warranty that restricted the departure of the insured vessels from
      950 words
    • 411 23 Bloomberg [LONDON] The cost of shipping crude oil from the Middle East to Asia on two mil-lion-barrel tankers may fall for a second consecutive week as oil companies and traders finish booking vessels for July. Freight rates for very large crude
      Bloomberg; FILE PHOTO  -  411 words
    • 290 23 SGX '000 Jim 29 SS W- Vol CH Offshore 0.37 o!oi i7 Chuan Hup .0.33 unch 370 Cosco Corporation 1.20 -0 01 5792 CWT Distribution _...0.57 -0.02 33 Ezra Hldgs .2.10 0 09 697 Freight Links 0.06 0.01 961 Grand Banks Yacht 0.90 -0.02 2 Java Holdings 130
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  • EDITORIAL & OPINION
    • 544 24 EDITORIAL THE rich get richer, the poor get poorer. That's the stark but inescapable conclusion that leaps out of the latest so-cio-economic survey of Singapore households. The findings also put in perspective another paper released this week about household wealth. The latter offers some assurance and
      544 words
    • 827 24  -  The SEC needs to enforce long overdue reforms to maintain investors' trust and confidence By KURT SCHACHT ANEW probe by the Securities and Exchange Commission (SEC) into stock options practices at public companies sounds a familiar refrain: "What are board directors and
      AFP; BLOOMBERG  -  827 words
    • 812 24  - SEZ players in for quick buck could get fingers burnt THE BOTTOM LINE YOGI AGGARWAL SPECIAL Economic Zones (SEZs) are the flavour of the month in India. Ever since the Indian government cleared a new SEZ Act in May 2005, dozens of Indian promoters have come up with nearly 200
      812 words
    • 889 25  -  Mexico will continue to regard immigration as an economic safety valve ROBERT SAMUELSON wins, that won't change. The Washington Post Writers Group THE subtext for the US' immigration debate is Mexico. Why doesn't its economy grow faster, creating more jobs and higher living
      wins, that won't change. — The Washington Post Writers Group; AP  -  889 words
    • 721 25  -  By TAKAHIKO HYUGA, MARIKO YASU HERE'S one sure sign that the banking crisis that crippled Japan for almost a decade has ended: the nation's biggest financial institutions are recruiting more university graduates than ever before. Mizuho Financial Group Inc, Mitsubishi UFJ Financial Group Inc and Sumitomo
      721 words
    • 227 25  -  LETTER TO THE EDITOR Gerry de Silva Head, Group Corporate Affairs Hong Leong Group I RKFER to your front page report, "Boss of Hong Leong Group hints at changes" (BT, June 28), and would like to clarify certain points in it. The Hong Leong
      227 words

  • Page 25 Advertisements
    • 525 25 BollliTillDv^vllllolS by Accenture and The Business Times in 1995, recognises the contributions that local, privately W held companies have made in economic development at home and abroad. Enterprise 50 ;W§|P 1 is jointly supported by the Singapore Economic financial year must fall within the 2005 calendar I Development Board, International
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  • 10782 26 SGX MAINBOARD Transaction date: Jun29 52-Wk Ttl last Vol Day Last Quote GrOiv Div GrYld Net MCap High Low Coda Company Sate COOP) High Low Iwyar Sallaf S Cvr P/t Sma 4 1 5716 1st Software 5c 2.5 2 3 10.1 15.5 6 3148 STelecom US2c 7 unch
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  • 6198 27 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In SS In USS dy X yr dy yr dy %yr Jun 28 Index Change Change Change Change Change Change World Index Preliminary 957.8 -0.2 -12 -0.2 -2.9 -04 09 EAFE Preliminary 959.4 -0.3 -1.4 -0.5 -1.0 -0.7 2.9 Europe
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  • Page 28 Advertisements
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 6604 31 This ETA ETA Advcrtfear Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SKI Dest n Name Nan* Number NumbII SM Desfn Nan* Name Numbe« Number x- AD. n i. u -»w» To FREMANTLE (FRE) 2130 Australia To ABIDJAN (ABJ) 2003 Cote D Ivotre
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  • executive lifestyle
    • 616 32  -  off the cuff jaime ee SIGH. Life is not easy when you are the owner of a massage parlour that just wants to make its customers happy. That, after all, has always been the motto of my esteemed establishment, Mwa Mwa Happy Massage
      616 words
    • Article, Illustration
      1299 32  -  Locals will get a pre-IR taste of international gambling action later this year when Singapore hosts a high-stakes poker tournament. GEOFFREY EU finds out more about the event GEOFFREY EU FASTER than you can say "Integrated Resort", Singapore has taken another step to become a legitimate challenger
      1,299 words
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  • CINEMA
    • 305 33  -  How does the first Bollywood superhero flick Krrish fare against Superman's latest outing? PRAVATHINAYAR reviews the two films PRAVATHI NAYAR ARE all superheroes a similar if advanced life-form whether in Hollywood or Bollywood? Perhaps inevitably, it was a question raised at the Singapore
      305 words
    • 523 33 HOW do you create a Superhero, Bollywood-style? Well, he leaps to unusual heights and outruns speedy horses, dresses in cool black and beats up bad guys, holds his own in slickly choreographed song-and-dance routines and upholds family values. In other words, it's Bollywood star Hrithik
      523 words
    • 324 33  -  DVD By PARVATHI NAYAR JOYEUX Noel (Merry Christmas), directed by Christian Carion, looks at one specific Christmas Eve, in 1914. The action takes place during the Great War (1914 to 1918) in the wintery trenches of northern France. In a moving sequence of events, soldiers a
      324 words
    • 519 33 AFTER Batman began, it was inevitable that Superman would return. And why not? We haven't said "it's a bird/it's a plane/it's-" in a while not since 1987's quite dreadful Superman IV. really. With the world going to seed in so many-ways terrorism, fundamentalism, nuclear proliferation
      519 words
    • 859 33  -  National Geographic's Sydney Suissa talks to CHEAH UI-HOON about the growing HD trend in TV production and the channel's programmes CHEAH UI-HOON Television viewers will eventually see more "cinematic" content on TV, as the high-definition (HD) trend in TV production picks up, says Sydney
      859 words
  • Page 33 Miscellaneous
    • 202 33 CRYPTIC CROSSWORD charqe outside Ecdes (9) wind (7) YESTERDAY'S SOLUTION WN 15 Notice god of the underworld Across: Morale 4 Languish, 9 2 Fib about strong drink being will fail to nit man (9) Doused, 10 Debonair, 12 Item, 13 pop (7) 16 Bob's known for the quick Bilge, 14
      202 words

  • WINE
    • 951 34  -  N K YONG tastes the wines of Priorat crafted by the internationally aclaimed Alvaro Palacios and finds out why they are making waves N K YONG ALVARO Palacios is irrepressible, and refreshingly so. We were lunching in Gratallops, an old village in the heart of
      FILE PHOTO  -  951 words
  • Page 34 Advertisements
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    • 26 34 Want the best deal? J5? Invite tenders. Call 1800 289 8822 or email notices@sph.com.sg to book your tendeT notice in our newspapers now. AT? W NOTICES
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  • ARTS
    • 837 35  -  EXHIBITIONS The Mobile Homes exhibition at the ACM helps to demystify a lifestyle nearing extinction. KIIRA GUSTAFSON talks to curator David Henkel to find out what it offers KIIRA GUSTAFSON /M Sk OMADS were 0 1% I seen as backI I ward, ignoI I rant
      837 words
    • 647 35  -  OPERA By BRYNA SIM AN opera production is not that different from a musical one after all. According to stage director David Edwards, both involve the use of lights, sets, props, acting and singing, just that singing features to a far
      647 words
    • 470 35  -  By KIIRA GUSTAFSON SINGAPORE Cultural medallion artist Lim Tze Peng completes two paintings and sever- al pieces of calligraphy each day. For some- one as conscientious as Mr Lim to work so quickly on a daily basis is practically a form of exercise.
      470 words
    • 483 35  -  SINGAPORE HERITAGEFEST By JENNANI DURAI WHAT defines you as an individual? As a member of your family, your ethnic group, or a Singaporean? Exactly what makes you, you? The National Heritage Board (NHB) wants visitors to the upcoming Singapore HeritageFest to ask
      483 words

  • 1482 36  -  Making Time Their allure may have been diluted, but aficionados are still willing to pay huge sums for them. SU JIAXIAN explains why SU JIAXIAN From isoi to 1945, about 600 to 800 tourbillons were made in total, an average of four to six
    1,482 words
  • Page 36 Advertisements
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    • 14 36 EST? SINCERE fine watches This series is brought to you by Sincere Fine Watches
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