The Business Times, 25 July 2006

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Total Pages: 30
1 30 The Business Times
  • 16 1 THE BUSINESS TIMES Tuesday, July 25,2006 Singapore 85 cents online at http://business-times.asial .com.sg mica (p) 099/03/2006
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  • 666 1  -  Sources expect it to sell its subsidiaries Ascendas and Jurong International Hldgs through trade sales By LESLIE YEE {SINGAPORE] JTC Corporation is expected to announce long awaited details of its divestment plans by the end of this month and sources expect the statutory
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  • 541 1  -  Two key TLCs already seeing chief executive changes By WONG WEI KONG [SINGAPORE] Last year saw the spotlight fall on the chairmanship changes within the Temasek stable of companies. Now, changes at the chief executive level at two key Temasek-linked companies (TLCs) within
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  • 184 1 [SINGAPORE] The disrupted rail service on the North-East Line (NEL) will be fully operational today, according to its operator SBS Transit. In a statement last night, SBS Transit apologised to commuters for the inconvenience caused by an electrical problem yesterday that halted NEL services
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  • 130 1 Dsn 2375.04 (+3.67) ST INDEX FUTURES 2375.00 (+3.00) SIMSCI 281.61 (40.36) SIMSa FUTURES 282.00 (-0.10) MARKETS Monday Change IQSECOMP ***** -238 NIKKEI 225 14,794.50 -26.76 HANG SENG 16.480.59 +16.41 SET INDEX 683.76 -1.85 JAKARTA COMP 1,303.15 11.43 MANMCOMP Ck>Md SEOUL COMf 1.***** -7.96 SHENZHENS 293.66 +032 MUMBA1IND 10.*****
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  • Page 1 Advertisements
    • 126 1 iBSS SANCTIONS China bank freezes North Korean accounts PAGE 2 8 lU SME SPOTLIGHT Two companies Petra Foods and the World of Sport Group tell how they save millions by hedging their exposure to financial risks, page 11 ROLEX j\H I/// I, iii .«K«>*ah n iiil^vt vMtoi W-l'f' "HiPm '<11
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    • 7 1 HDD 2-room flats make comeback PAGE 3
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  • TOP STORIES
    • 643 2 Setback puts in jeopardy WTO's aim to seal an accord this year Bloomberg [GENEVA] TALKS among the six key World Trade Organization (WTO) governments have collapsed, jeopardising efforts to reach a global market-opening «agreement worth billions of dollars. Ministers from the US, the European
      Bloomberg; AFP  -  643 words
    • 473 2 But Beijing and bank's officials decline comment AFP [SEOUL] The Bank of China (BOC) has frozen North Korean accounts following a US-led crackdown on Pyongyang's alleged illegal financial activities, a South Korean legislator said yesterday. The move was tantamount to China's imposition of
      AFP  -  473 words
    • 475 2 CityDev to sinkssBom in Sentosa project CITY Developments will spend $580 million developing a 99-year leasehold project called The Quayside Isle on Sentosa Cove, group executive chairman Kwek Leng Beng said yesterday. This sum includes the $255 million land price that it will pay for the 523,246 sq
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    • 535 2  -  By RONNIE LIM [SINGAPORE] US-based generating company Inter Gen which is building a $1 billion, 785-megawatt power station on Jurong Island catering to industrial users—is interested in bidding for one of the three big Singapore gencos of around 3,000
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    • 631 3  -  The entire hotel, commercial and condo project is slated for completion by end-2009 By KALPANA RASHIWALA [SINGAPORE] City Developments will spend $580 million in total development cost for a 99-year leasehold hotel, commercial and condo project called The Quayside Isle on Sentosa
      LIANHE ZAOBAO  -  631 words
    • 515 3  -  By JAMIE LEE [SINGAPORE] For the first time since the eighties, HDB is offering two-room flats for sale under the Build-to-Order (BTO) system for lower income households. Announced yesterday by Minister of National Development Mah Bow Tan, 86 new two-room flats will be
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  • Page 2 Advertisements
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    • 292 4 fW' l lllffif Passions stirred 5* tf fi senses soare d Temptations unleashed Ti y Satisfaction rtyjjj an a^er^ow W- kv V My Humble House Soul i Exquisite Dim Sum, mL" Lunch Dinner Tasting Menus Reservations: 6423 1881 >v jk -\Jff DID MY -HUMBLE -HOUSE Cuisine: Contemporary Chinese W«rW Gourmet
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  • COMPANY NEWS
    • 525 4  -  Cash offer a 20% premium over last transacted share price of 30 cents By MATTHEW PHAN US-BASED software giant Sungard group has made a conditional general offer for Sesdaq-listed System Access for $120.2 million, or 36 cents a share. System Access said yesterday
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    • 248 4  -  By KRITI SINGH SGX will list the SGX FTSE/Xinhua China A5O Index Futures contract on Sept 5, the exchange announced yesterday. The contract, the first internationally available futures contract based on FTSE/Xinhua China A5O Index, will be traded on SGX QUEST. The FTSE/Xinhua China
      248 words
    • 593 4  -  By MATTHEW PHAN LEE Hsien Yang's announcement last Friday that he will be stepping down as CEO of Sing Tel may lead to short-term uncertainty about the company's future leadership, but any resulting dip in price could be a good buying
      593 words
    • COMPANY BRIEFS
      • 66 4 A-SONIC Aerospace and Airocean yesterday said reports that Airocean's co-founders Thomas Tay (who has a 19.06 per cent stake) and Johnson Chong (who has al2 per cent stake) have agreed to any scheme of arrangement which could mean A-Sonic would easily have rights
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      • 60 4 Elec Eltek not involved in shareholder spin-off plan ELEC Eltek International Company Limited said it would not be involved in the proposed spin-off by major shareholder, Kingboard Chemical Holdings Limited. Kingboard is planning to spin off its laminates business to Kingboard Laminates Holdings Limited, which it plans to list on
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      • 78 4 AUSTON Intentional Group has drawn attentiA to certain concerns raised by its auditors. The education services provider said its auditors, First Trust Partnership, have highlighted "significant uncertainties" regarding Auston's ability to meet its financial obligations and continue as a going concern. An ongoing white-collar-crime probe into
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      • 33 4 SGX has approved the voluntary delisting of Sembcorp Logistics Ltd last Friday. SembLog, which has been taken over by Australia's Toll, will be delisted from 9am on Thursday.
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      • 35 4 THE board of Super Coffeemix Manufacturing said Oei Hong Leong had stepped down from his post as the company's business consultant due to his busy business commitments and frequent travelling.
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      • 33 4 ROTOL Singapore said Kenichiro Yamamoto had resigned as chief executive officer yesterday. Mr Yamamoto has been replaced by Shiro Suzuki with effect from yesterday.
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      • 63 4 DAYEN Environmental yesterday announced that it would enter into a 50-50 joint venture with Saudi Arabia's Energy Resources Development Co (TAACA) to undertake environmental engineering activities in a rapidly urbanising Saudi Arabia. To be known as Saudi Dayen Environmental Co, the company will
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      • 49 4 LINAIR Technologies is planning to have the ductwork manufacturing business to become one of its key revenue generators. It will also form joint partnerships with key construction industry players in China, UAE, Middle-East and Vietnam to set up efficient and high-capacity manufacturing plants there.
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    • 702 4  -  HOCK LOCK SIEW By LESLIE YEE MINORITY shareholders of Pacific Century Regional Developments (PCRD) have the power to decide whether to sell their shares to TPG and Newbridge for 30.5 cents per share through a scheme of arrangement. Giving the
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    • 418 5  -  By MICHELLE QUAH MACQUARIE ME AG Prime Reit (MMP Reit), which owns a share of two shopping malls along Orchard Road, has exceeded income and distribution projections made during its initial public offering in September 2005. And Moody's Investors Service has assigned the
      418 words
    • 320 5  -  By OH BOON PING SINGAPORE Post yesterday reported a 5 per cent rise in net earnings to $30.9 million, on turnover of $105.1 million, for the three months ended June 30, 2006. During the quarter, mail revenue grew 5.4 per cent
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    • 412 5  -  Its net distributable income for the quarter is $7.8 million, 11 per cent higher than its forecast By ARTHUR SIM ASCOTT Group's Ascott Residence Trust (ART), which was listed on the Singapore Exchange in March, released its maiden quarterly results yesterday and announced a net
      FILE PHOTO  -  412 words
    • 179 4 Bloomberg SINGTEL, South-east Asia's biggest phone company, hired DBS Group Holdings and Citigroup to raise a loan of $650 million, the company said. The three-year loan is for refinancing and general corporate purposes, said Andrienne Tho, a company spokeswoman, who declined to give
      Bloomberg  -  179 words
    • 578 7  -  Medi-Flex, which is dependent on the commodity, warns of lower profit By CHEN HUIFEN PRICES of rubber have almost doubled in the past year, and companies which rely on the commodity for their products are beginning to feel the pinch. Disposable glove maker
      578 words
    • 279 7  -  By CHEW XIANG NEXT generation optical fibre technology that can deliver internet broadband services at an explosive speed has arrived in Singapore, courtesy of Sing Tel. The local telecoms giant yesterday announced the start of trials for Fibre-to-the-Home (FTTH) and residential Metro Ethernet
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    • 325 7  -  By SWATI CHAUDHARY CHIP equipment maker ASTI Holdings is venturing into the semiconductor waste recycling business, with an eye on a slice of a US$2.3 billion global pie. The company said yesterday that it has a formed a joint venture, A-SCT Semicon Recycling
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  • Page 5 Advertisements
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  • SINGAPORE MARKETS
    • 485 6  -  STOCKS Chartered Semiconductor's disappointing second-quarter results also knock sentiment VEN SREENIVASAN Senior Correspondent AS EXPECTED, the Straits Times Index kicked off on a weak note following Wall Street's losses on Friday and growing worries over the crisis in the Middle East and disappointing corporate
      Source: Bloomberg  -  485 words
    • 1025 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Jul 24 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Stock Date Director Sell 000 Shr S [000) ('000) MobileOne 21-Jul-06 Keppe T&T *Buy 8660 na *****5 14.14 *****5 15.02 Full Apex 21-Jul-06 Liang Huiying
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    • Article, Illustration
      889 6  -  Compiled by MATTHEW PHAN Chartered Semiconductor July 24 dose: Ssl.lo CITIGROUP RESEARCH, July 24 Upgrading to "buy": Following Charterers latest guidance, which will likely lead to consensus estimate cuts, and with the "bad news" out, we upgrade Chartered to a "buy, medium risk (1M)" from a "sell, medium
      Source: Bloomberg  -  889 words
    • 534 6  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar made a spirited attempt to fight its way back yesterday. after suffering last week from market expectations that the US central bank may not raise rates when it next meets on Aug 8. That expectation,
      Source: Reuters  -  534 words

  • Page 7 Advertisements
    • 1129 7 CAMBRIDGE INDUSTRIAL TRUST CAMBRIDGE I•tfi• t r I a I (a unit trust constituted on 31 March 2006 under the laws of the Republic of Singapore) OFFERING BY CAMBRIDGE INDUSTRIAL TRUST MANAGEMENT LIMITED, AS MANAGER (THE "MANAGER" IN RESPECT OF 206,109,000 UNITS REPRESENTING UNDIVIDED INTERESTS IN CIT ("UNITS") FOR SUBSCRIPTION
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    • 102 7 July 2006 CAMBRIDGE INDUSTRIAL TRUST CAMBRIDGE Iii•• t r I I (a unit trust constituted on 31 March 2006 under the laws of the Republic of Singapore) Offer for Subscription by CAMBRIDGE INDUSTRIAL TRUST MANAGEMENT LIMITED of 206,109,000 Units (Subject to the Over-allotment Option) 188,508,000 Units by way of Placement;
      102 words

  • SINGAPORE NEWS
    • 406 8  -  By GENEVIEVE CUA A FORMER auditor turned full time trader has been named the grand champion of the first Options Trading Championship hosted by trading coach Clemen Chiang's Freely Business School. Leong Wei Ping, 29, achieved a total return of 198 per cent over
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    • 668 8  - Eighth Wonder IR targets 40 000 visitors a day SPOTLIGHT ON CASINOS It expects almost every Singapore tourist to visit its proposed IR By DANIEL BUENAS EIGHTH Wonder, one of the bidders for the Sentosa integrated resort (IR), hopes to attract some 40,000 people a day or over 14 million
      FILE PHOTO  -  668 words
    • 502 8  -  By ARTHUR SIM US CAPITAL markets are very bullish on gaming stock. It seems all a casino operator needs to do is say the word and money comes flooding in. ÜBS managing director (head of US gaming and leisure) James Stewart said
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    • 223 8 CITIBANK yesterday launched its two-year nationwide financial education programme for Singaporean schoolchildren, following its successful pilot of "The Adventures of Agent Penny Will Power" financial education programme last year. "Financial literacy is a key life skill that is relevant to people of all
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    • 469 8  -  Move will enable more local firms to go into Japan By CRYSTAL NEO INTERNATIONAL Enterprise (IE) Singapore inked a Memorandum of Understanding (MOU) with the Development Bank of Japan (DBJ) yesterday to help more Singapore companies penetrate the Japanese market. This agreement
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    • 213 8  -  By CHEW XIANG FORMER Temasek Holdings' main spokeswoman Eva Ho has emerged at ExxonMobil as its communications manager, just two months after leaving the Singapore investment company to pursue her own interests. When contacted by BT, a spokesman from ExxonMobil confirmed: "Eva Ho is joining
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  • Page 8 Advertisements
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  • SME SPOTLIGHT
    • 804 9  -  It ties up with SMU to add region to its trans-continental research project By NANDE KHIN ASIAN family businesses, being "younger", are relatively more inexperienced when it comes to issues like wealth management, succession planning and philanthropy, says Raphael Amit, the Robert B Goergen
      REUTERS; ARTHUR LEE  -  804 words
    • 602 9  -  By SWATI CHAUDHARY CANDIDATES vying for the title of Entrepreneur of the Year 2006 are somewhat different from those of previous years. For one, the list includes Annie Yap, managing director of the GMP Group, who, if she.wins, will become the first
      602 words
  • Page 9 Advertisements
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  • 660 10  -  SMALL CAPS It is in talks with several major retailers in VivoCity, reports OH BOON PING OH BOON PING Communications design and production firm Kingsmen Creative is eyeing mega projects like Vivo City and regional projects to further propel the company forward. Indeed, the company is
    ARTHUR LEE  -  660 words
  • 5419 10 UNIT TRUSTS FUNDS ACMGIAmer income 0TUSO 8.46/ ACMGI Amer Income A USD 8.43/ ACMGI Amer Income B USD 8.43/ AIM Amro Asset Mgt (S pore) ACMGI Amer Income A EUR 6.64/ Star EmpeEqty! 0.90« ACMGI Amer Income B EUR 6.64/ Star Europe Bond 1.172/ ACMGI Europ Income Opp AT SGD
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  • EMPOWERING SMEs
    • 1135 11  -  At Petra Foods, it all boils down to a keen understanding of how each risk affect the company, reports CONRAD TAN CONRAD TAN COMPANIES here are constantly being urged to expand abroad in search of sustained and profitable growth. But running a business spanning
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    • 573 11  -  By CONRAD TAN WORLD of Sport Group financial chief Andrew Morriss has saved the company more than US$l million over the past two years, using currency forward contracts. The need for the sports management company to hedge its currency risk
      YEN MENG JIIN  -  573 words
  • Page 11 Advertisements
    • 312 11 COMMERCIAL BANKING GROUP. TURNING VISION INTO REALITY. Join the growing number of organisations that have benefited from a partnership with Citigroup Commercial Banking Group. At Citigroup Commercial Banking Group we empower Singapore's Small and Medium Enterprises and emerging corporations, enabling them to take their businesses further. We help our customers
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    • 131 11 Afk Citigroup Commercial Banking Group (CBG) Be the first 50 respondents to e-mail your question to cbgspore@citigroup.com on today's topic and receive a pair of Coffee Bean Tea Leaf, Brew of the Day vouchers. Selected'questions and our responses will be featured on Aug 1. The deadline to submit questions each
      131 words

  • ECONOMY WATCH
    • 1026 12 Govt measures to curb lending are seen having an impact in H2 2006 Bloomberg [BEIJING] China's economic growth, which reached the fastest pace in a decade in the second quarter, may slow as the government takes steps to clamp down on lending. The economy will
      Bloomberg; AFP  -  1,026 words
    • 2348 12 VOl General Corp .0.60 unch 125 Jul 24 Mil *1- COOO) Genting .24.00 unch 168 George Kent .0.48 -0.01 42 ASM Realty 1.47 0.01 186 GHL Systems..... .0.21 -0.01 1549 Abrk .0.33 unch 59 Globetronics Tech 0.30 0.01 987 ACP Industries 0.90 -0.01 31 GlomacBhd 1.21 -0.02 34
      2,348 words
    • 817 12 Reuters [SINGAPORE] Inflation in much of Asia eased in June, a trend that is expected to continue in the second half of the year as regional economic growth slows. Alter inflation picked up in the first half of the year, most Asian
      Reuters  -  817 words
    • 516 12 Reuters [SINGAPORE] Asia's export-driven economies are reaping the benefits of strong global demand, but analyst say a shrinking trade surplus in South Korea and deficits in India and Thailand will expose their investors to greater risk. That means that policy makers will face a
      Reuters  -  516 words

  • MALAYSIA/INDONESIA
    • 605 13  -  MCA official asks trade minister to remove business uncertainty By PAULINE NG in Kuala Lumpur A SET of controversial guidelines that proposes to boost bumiputra participation in Malaysia's distributive trade services is continuing to cause business uncertainties and should be addressed quickly,
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    • 260 13 [JAKARTA] Offices and homes in Jakarta and \Vest Java risked having their power cut yesterday after the Muara Tawar power plant in the Indonesian capital ran out of diesel, state utility PT Perusahaan Listrik Negara said. The western part of Java, the
      260 words
    • 332 13 [KUALA LUMPUR] Malaysia's M3nergy Bhd has won as part of a consortium a contract to develop three offshore marginal fields known as Cluster 7, off Mumbai in India, says a report in Malaysia's Business Times citing sources. The paper quoted a source
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    • 223 13 AFP [JAKARTA] Indonesia's Rajawali Group has signed a shareholder agreement with the government for the purchase of a' 24.9 per cent stake in Semen Gresik from Mexico's Cemex, a Rajawali official said yesterday. Cemex agreed to sell its stake to Rajawali for
      AFP  -  223 words
    • 307 13 [KUALA LUMPUR] US-based General Electric International (GE) expects to see a four-fold rise in its revenue in Malaysia by 2008, from over RMI billion last year, says a report in Malaysia's Business Times. "We look at things on a three-year basis.
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  • Page 13 Advertisements
    • 952 13 BSOCIETE CENERALE SOCIETE GENERALE BANK TRUST A bank incorporated in Luxembourg Head Office: 11 avenue Emile Reuter L-2420 Luxembourg RCS Luxembourg B 6061 Notes in the Accounts which form an integral part of the financial statements together with a list of Societe Generate Bank Trust subsidiaries can be obtained from
      952 words

  • GREATER CHINA
    • 538 14 Firm agrees to buy new shares issued by the Chinese bank: report Bloomberg [SHANGHAI] Temasek Holdings, Singapore's investment company, is in talks to increase its stake in China Minsheng Banking Corp, a move that would strengthen its position as the biggest overseas investor
      Bloomberg  -  538 words
    • 372 14 Bloomberg [SHANGHAI] China may allow its brokerages to raise hard-currency assets and invest them overseas for the first time, part of efforts to encourage capital outflows and reduce pressure on the yuan to rise. Brokerages can pool money
      Bloomberg  -  372 words
    • 308 14 Reuters [SHANGHAI] Bank of Communications president Zhang Jianguo is set to become vice-chairman of China Construction Bank in a reshuffle of executives at several of the country's big state-controlled financial institutions, banking sources said yesterday. Mr Zhang, 52, was appointed president of Bank
      Reuters  -  308 words
    • 65 14 [HONG KONG] Former Hong Kong governor Chris Patten reading letters from students during a visit to an English class at the British Council here yesterday, while his wife Lavender and eight-year-old student Henriette Lam look on. Mr Patten was in the former British colony
      AFP  -  65 words
    • 452 14 China bank plans US$19b share offering in HK and mainland [BEIJING] Industrial and Commercial Bank of China (ICBC), which is planning to raise as much as US$l9 billion in a cross-border initial public offering, may set identical prices for its A and
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  • Page 14 Advertisements
    • 19 14 STYLE U P YOUR OUTDOOR SPACE For more info, log onto www.homeanddecor.com.sg sPHmagaziiyj FREE) DESIGNER SHOWCASE (VOL 2) BOOKLET
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    • 31 14 An Entrepreneurial Buzz in the City Look out for the Blue Sky Festival supplement on July 27 in The Business Times Brought to you by the Action Community for Entrepreneurship uU?
      31 words

  • INDIA
    • 536 15 They're willing to take pay cuts of up to 25% to secure jobs in India Economic Times [NEW DELHI] Non-resident Indians are taking a hit in their pay packages, as much as 25 per cent in many cases, in their eagerness and perhaps, even
      Economic Times; AP  -  536 words
    • 440 15 The Economic Times [MUMBAI] India's largest bank, the State Bank of India (SBI), may well be on course for a makeover. The government, which is set to replace the central bank as the dominant shareholder of SBI, has told the bank to
      The Economic Times  -  440 words
    • 261 15 Economic Times [NEW DELHI] India's National Manufacturing Competitiveness Council has said it is quite puzzling to see India not emerging as the global metal hub despite possessing natural resources and world-class engineering and metallurgical talent. "We have the engineering, metallurgical talent, and yet
      Economic Times  -  261 words
  • Page 15 Advertisements
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  • ASIA-PACIFIC/WORLD
    • 520 16 Signing will be delayed as France deals with Middle East conflict AP. AFF [KUALA LUMPUR] France has postponed the signing of a friendship treaty with the Association of Southeast Asian Nations (Asean) because Paris is preoccupied with the Middle East situation, Malaysia's foreign minister said
      AP.; AFF  -  520 words
    • 355 16 AFP [BANGKOK] Thailand's main opposition Democrat Party won a majority of seats in a Bangkok municipal election, defeating Prime Minister Thaksin Shinawatra's ruling Thai Rak Thai party by a wide margin. The Democrats won 35 out of 57 city council seats and 176 of
      AFP  -  355 words
    • 323 16 AP [CANBERRA] Three Australian investors have filed a US$B million lawsuit against Brunei's Sultan Hassanal Bolkiah, claiming he reneged on a deal to buy a 400-year-old copy of the Quran, one of the investors said yesterday. The Australian government said it would
      AP  -  323 words
    • 289 16 Reuters. Bloomberg [LONDON] The hiring boom in the City of London financial centre that has driven employment to record highs this year is showing signs of cooling off, according to research published yesterday. The Centre for Economics and Business Research (CEBR) expects
      Reuters.; Bloomberg  -  289 words
    • 665 16 Fighting continues as Rice holds talks in Beirut Bloomberg. Reuters. AP [LONDON] Oil slipped below US$74 a barrel yesterday due to diplomatic efforts to resolve the conflict in the Middle East, a region that pumps almost a third of the world's
      Bloomberg.; Reuters.; AP  -  665 words
    • 406 16 Reuters [TOKYO] Nearly two months before ballots are cast, Japanese Chief Cabinet Secretary Shinzo Abe, known for talking tough on North Korea and China, looks unbeatable in the race to be Japan's next leader. Pressure, however, appears to be
      Reuters  -  406 words
    • 370 17 Bloomberg, Reuters [HONG KONG] The 25 biggest hedge-fund companies based in Asia, led by Sparx Asset Management Co, manage a combined U5522.6 billion of assets, a survey by Institutional In-, vestor's Alpha magazine shows. Tokyo-based Sparx tops the list with US$5.2
      Bloomberg,; Reuters  -  370 words
    • 403 17 Final bids of over 8b euros said to be due by weekend Reuters. Bloomberg Reuters. [PHILADELPHIA] Three groups of private equity firms are weighing bids of more than 8 billion euros (Ssl6 billion) for Philips Electronics' semiconductor unit, The Wall Street Journal
      Reuters. Bloomberg; Reuters.  -  403 words
    • 413 17 US$5.4b purchase will help the firm challenge Intel better Bloomberg [NEW YORKf Semiconductor maker Advanced Micro Devices has agreed to buy ATI Technologies for US$5.4 billion, adding computer-graphics chips to its product lineup. AMD chief executive Hector Ruiz is making the biggest purchase in
      Bloomberg  -  413 words
    • 511 17 Stockholders will get 6.5% premium over the counter's last done price NYT. Bloomberg [NEW YORK] HCA Inc, the largest US hospital chain, has agreed to a US$2l.3 billion buyout offer from a consortium of private equity investors. The buyout group is led by
      NYT.; Bloomberg  -  511 words
    • 490 17 Reuters [LONDON] Vodafone chief executive Arun Sarin vowed to defeat a challenge from dissatisfied investors, as the mobile phone giant reported in-line trading and reiterated its full-year growth forecasts. Institutional investors controlling about 10 per cent of shares plan to vote against Mr Sarin's
      Reuters; BLOOMBERG  -  490 words
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  • Page 17 Advertisements
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  • AVIATION
    • 195 18 Bloomberg [KUALA LUMPUR] Air Asia Bhd, South-east Asia's largest low-fare carrier, said it will seek to fly to southern China and the east coast of India as it expands routes following an order last week for 40 single-aisle A
      Bloomberg  -  195 words
    • 400 18 Bloomberg [NEW DELHI] Jet Airways, India's biggest domestic airline, may post a loss in the fiscal first quarter on higher fuel costs, fare discounts and expenses from a failed takeover of rival Sahara Airlines Ltd. The company had a loss of 15 million rupees
      Bloomberg  -  400 words
    • 698 18  -  Analysts say only best-performing airports would attract investment to sustain growth By VEN SREENIVASAN [SINGAPORE] Privatisation, liberalisation and new aircraft technologies are putting airports on an inevitable path to increased competition, a situation in which only the best-per-forming airports will attract levels of
      THE NATION  -  698 words
    • 243 18 Bloomberg [LONDON] The deficit on British Airways' (BA) pension fund has virtually doubled to around £2 billion (Sss.B billion), according to a new valuation being carried out by actuaries, newspapers reported on Sunday. Actuaries put BA's pension deficit at £928 million following
      Bloomberg  -  243 words
    • 2229 18 CTTY FLIGHT ETA FLIGHT ETD EK348 1650 NZ4354 2335 UL2348 1650 SQ492 2335 Mrttl LH9771 1750 AF8088 2215 I* 432 2005 ]gS0 22)5 Frankfurt AC9951 0635 LH6765 1350 M73U 1850 LFB770 2*5 U«« 0635 L040* 1350 OT OH! -Sg 2300 Amfrdam L***** 0630 AZ3993 2255 2305
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  • Page 18 Advertisements
    • 126 18 BT/ZUJI Deals of the Week FIRST CLASS (from BUSINESS CLASS (from S) HOTEL (from S) London $4,799 $3,150 $183 Gulf Air Thai Airways DESTINATIONS BUSINESS CIASS (from ECONOMY CLASS (from HOTEL (from S) WEATHER Kuching $366 (Sic Air) $129 (SHkAir) $64 Cloudy Phuket $769(S»Air> $140 <S«cAir) $61 4% Wn Shanghai
      126 words
  • Page 18 Miscellaneous
    • 188 18 CRYPTIC CROSSWORD DOW 14 Long legged water carrier (8) Across: 1 Cast anchor, 6 Plus, 9 2 Better at one seeing morning g Poor agronomists not leaving Bill of fare, 10 Buff, 12 Tilt, 13 Easover (5) jnes on a map (g) tender, 15 Agreeing, 16 Adds up, 3 A
      188 words

  • SHIPPING
    • 660 19  -  Closed ports, rising insurance rates and 'warlike operations zone' add to strain By DONALD URQUHART [SINGAPORE] The escalating conflict between Israel and Lebanon-based Hezbollah militants is increasingly being felt by the shipping industry as ports close, insurance rates climb and maritime employers
      REUTERS  -  660 words
    • 405 19  -  By GEORGE JOSEPH [SINGAPORE] There has been a flurry of activity aimed at recruiting top former US officials by foreign bidders eyeing the US port assets of Dubai's DP World. Simon Group, the UK's smallest listed port operator, is reported
      405 words
    • 287 19 SGX '000 Jul 24 S$ W- Vol CH Offshore 0.35 unch 35 ChuanHup .0.33 0.01 1240 Cosco Corporation 1.45 0.02 8794 CWT Distribution 0.63 -0.01 30 Ezra Hldgs 2.39 0.07 806 Freight Links 0.06 unch 657 Grand Banks Yacht 0.93 unch 0 Jaya Holdings 1.33 unch 613 K1
      287 words
    • 219 19 [SINGAPORE] Global supply chain company APL Logistics said yesterday that it has become the first international logistics provider to obtain a licence to operate in Taiwan's Kaohsiung Free Trade Zone (FTZ). The licence enables APL Logistics, a subsidiary of Singapore-based
      219 words
    • 251 19 Reuters [SINGAPORE] Neptune Orient Lines (NOL), the world's sixth-biggest container liner, carried 5 per cent more containers on its ships in June but suffered a 9 per cent fall in average sales per box as it felt the slowdown in the industry. Singapore's NOL
      Reuters  -  251 words
    • PORT SHOTS
      • 102 19 AP [ANCHORAGE, Alaska] A Singapore-based container ship with 23 people on board was listing severely yesterday and taking on water south of the Aleutian Islands, Coast Guard officials said. A Coast Guard C-l 30 plane was circling over the Cougar Ace, which sent out an SOS
        AP  -  102 words
      • 132 19 Reuters [HAMBURG] The low water levels caused by the recent heatwave and lack of rain are disrupting inland waterway shipping on much of the river Rhine in Germany, traders said yesterday. "Ships are only sailing half full for much of the northern section
        Reuters  -  132 words
      • 134 19 Reuters [DHAKA] Bangladesh will ask for nearly US$2.O billion in aid from Japan to build a deep sea port and a river bridge, government officials said yesterday ahead of a visit by Japanese Foreign Minister Taro Aso. Japan is the largest single donor
        Reuters  -  134 words
      • 111 19 Bloomberg [LONDON] Murmansk Shipping Co, which operates in the Russian Arctic, finished modernising a Suezmax tanker, the only vessel that size that carries the Russian flag. Nataly, which can carry 166,400 cubic metres of crude oil, was upgraded at China's Cxengxi Shipyard, Murmansk said yesterday in
        Bloomberg  -  111 words
  • Page 19 Advertisements
    • 38 19 i Get a Leading Edge a Your sailing schedules get wider attention in The Business Times shipping pages Call Bernard Ong at 6319-1645 or Michael Chng at 631 9-2062 THE BUSNESS TIMES m Shipping Times v x v*■
      38 words

  • EDITORIAL & OPINION
    • 505 20 EDITORIAL IN two surprise announcements in less than two months, two major corporations Neptune Orient Lines (NOL) and Singapore Telecommunications (Sing Tel) have announced the impending departure of their CEOs, without any clear successors. In June, NOL said group president and CEO David Lim
      505 words
    • 805 20  -  THE BOTTOM LINE AMITY SHLAES Bloomberg IS the US bankrupt? That's the question that's been bouncing around since economist Laurence J Kotlikoff posed it in a paper for the Federal Reserve Bank of St Louis in the current issue of its Review
      Bloomberg  -  805 words
    • 1541 21  -  Regulators know the imminent task is to fight excessive investment rather than inflation. Administrative measures could be much more effective than traditional monetary tools By TIGER TONG A FAST growth rate may be the dream for some governments in Europe. In China,
      AFP  -  1,541 words
    • 224 21  -  LETTERS TO THE EDITOR Ho Kok Fei Singapore I REFER to the article "ACCS founder Victor Tan gets jail term of 4 years 3 months" (BT, July 22). Why are the sentences for the guilty parties in cases like the ACCS. and China Aviation Oil frauds so
      224 words
    • 153 21  -  Cheong Teow Cheng President Singapore Cruise Centre 1 REFER to the article "S'pore cruise centre, Genting in tie-up talks" (BT July 20). Singapore Cruise Centre does not agree that there is no direction in Singapore's cruise strategy as our combined marketing efforts with STB have
      153 words
    • 824 21  -  America's deficits don't threaten immediate economic turmoil ROBERT SAMUELSON The Washington Post Writers Group TO THOSE who believe leading US politicians are utterly shameless, there was dreary confirmation. President George Bush publicly bragged about the federal budget. Here's the objective situation that inspired
      The Washington Post Writers Group  -  824 words
    • 848 20  -  Successful acquirers know that the ultimate goal of due diligence is to determine a walk-away price. And for this price to have meaning, they are willing to walk away By SUVIR VARMA, HARLES ORMISTON THE debacle playing out in Hong Kong relating to
      AFP  -  848 words

  • Page 21 Advertisements
    • 102 21 HAVEYOURSAY Fax your letters to 6319-8277 or email them to btletterGsph. com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel laws.
      102 words

  • 10635 22 SGX MAINBOARD Transaction date: Jul 24 52-Wk T«l Last Vol Day Last Quota GrDrv Dtv GrYtd Net MCap High Low Coda Company Sate W- 000) High Low 8uy«f Seller Cvr P/I SmM 4 1 5716 1st Software 5c 2.5 2.S 3 10.1 12 6 3148 STelecom US2c 7
    10,635 words
  • Page 22 Advertisements
    • 38 22 Tfcade from 20% deposit (5 x leverage) on mo«t stocks Go long or short Competitive financing rates in all markets Access to Asian, US, Biro stocks Select Exchange TVaded Funds and Indices j competitive uoi i uniiai&n CnilyM
      38 words

  • 6232 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES in local am In SS In USS <ty %yt iff %r> dy %yr Jul >nd«» Chang* Chary Chanq« Chang* Oitng* Chang* World into ftrfmnay 9623 -0* -OtB -Oj6 -33 -tt4 2.0 »EAff Prefowary 9651 03 OJOJ OJ -05 4.9 Europe Preliminary 12% 2
    6,232 words

  • Page 24 Advertisements
    • 1242 24 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination AFRICAN UON RDM/ATW/BMN/TLB/NAN SEAFRIEND CAM/NFK/SAV/NOL EVGENIA RDM/ATW/BMN/TLB/NAN loads Singapore. E-/W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE F.EJS.EJk. SERVICE Destination ASEAN EXPRESS DBI/ABU/DOH/BRN/DMM/KWT Destination PAN BRIGHT DBI/ABU/DOH/BRN/DMM/KWT WIN HONEY INC/BSN Loads Singapore, E./W. Malaysia, Indonesia Loads E. Malaysia, Indonesia OTHER SERVICES Tramping
      1,242 words
    • 662 24 P] DONGNAMA LINE vßsa (rvay sun) voy [~sgp hkg KOH HADMH H1A239 30/07 03/00 ROTA HARMUM HM3O3 00/00 10/01 KOTA HASH HAS 429 13/00 17/00 vessbievbysun) voy sgp wc nr nx rat MOIKNtTUW ***** 30/07 03/00 07/00 00/00 10/00 MOtOOItY SOl7O 00/00 10/00 14/00 IS/00 17/00 MOUMOTY ***** 13/00 17/00
      662 words
    • 717 24 vOOv WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobol.com VESSEL VOY Ujjf HEIGHT SIN t»C MAO ~~SAV lAL QUE TARAGO AF623 3201 MS 6.4 M 07/08 31/08 09/09 13/09 17/09 15/09 TAMER LAN! Af625 3201 MS 6.4 M 26/08 20/09 29/09 03/10 07/10 OS/10 TALAIOT AE627 4001 ms 6JM It/09 10/10 19/10 23/10
      717 words

  • Page 25 Advertisements
    • 871 25 WAN HAI INTERNATIONAL PTE LTD a NO: *****W0000/R V\jo\ WAN HAI LINES SSBMSIMTO™V V MI IB: (03) 3346M51 MX: (03) *****25S NN TH: (04) *****00 MX: (04)*****99 V JOHTB: (07) *****23 MX: (07)*****21 SHI IB: (03i) *****75 MX: (031) *****14/ *****05 WWW.Wanhai.COm.Sa JKTTH: (021) ***** M MX: (021) ***** M
      871 words
    • 1225 25 I VESSEL Ivor PKL I SIN I KARACHI I DXB BAB NHS PMM BIK I KHOR IRAN ISFAHAN PCL 482 27/07 05/08 06/08 12/08 14/08 16/08 JOilY PCL 8148 04/08 12/08 15/08 16/08 22/08 24/08 26/08 IRAN BAABAII PCL 8151 I 08/08 I 09/08 18/08 1 21/08 122/08 1 28/09
      1,225 words
    • 875 25 m Si (SOFA WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS VESSEL VOY SIN PJUAMG COLOMBO It SHEVA COLOMBO HAJIY GANDHI 0105W 26 JUL OMU OMU 03 AUG 07 AUG KOTA PEHTAMA rPMO4I 01 AUG 02 AUG 05 AUG 08 AUG 1? AUG Kltitl* ALSO
      875 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 4502 26 This ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyaae Telephone SM Dest n Name Name Number Number SIN Desfn Name Name Number Number To DUNKIRK (DUK) 2117 France To ABIDJAN (ABJ) 2003 Cote D'lvoire 09/08 17/09 NGPl BOULARIBANK SP200 *****288 01/08
      4,502 words

  • PROPERTY
    • 540 27 Better risk management for issuers, more access to assets for investors Reuters [LONDON] Collateralised debt obligations (CDOs) in Europe could soon contain "junk" commercial property loans, analysts said, allowing issuers better risk management and investors more access to hard-to-find assets. Known
      Reuters  -  540 words
    • 182 27 FLAMINGO Valley, a residential development in the Siglap area, has been put up for en-bloc sale. Separately, three smallish sites off Bukit Timah Road have also been put on the market. The three sites, with a combined area of 116,861 square feet, are
      182 words
    • 411 28  -  By CLARENCE MICHAEL in Dubai THE Ascott Group is keen to usher in 15 of its brands, including probably Citadines, to the budget-prop-erty starved UAE and across the Middle East and North Africa (MENA) region by 2010. Speaking to BT at
      411 words
    • 533 28 Another attempt to curb overseas investors' rampant speculation AFP [BEIJING] China issued a draft of regulations last Monday, that will make it tougher for overseas investors to invest in the nation's booming property market, in another attempt to curb rampant speculation. Capital requirements for overseas
      AFP; AP  -  533 words
    • 389 29  -  But demand for flatted factory space still enjoying strong growth: JTC By CRYSTAL NEO NET allocation of prepared industrial land (PIL) fell in the second quarter after record growth in the previous quarter, while demand for the net allocation of
      389 words
    • 339 29  -  By KALPANA RASHIWALA TIGHTENING office supply is creating keen leasing interest in Soilbuild Group Holdings' Eightrium, a new $35 million eight-storey high-tech building the group is developing at Changi Business Park. Five major MNCs including technology and pharmaceutical companies as well as a bank (for
      339 words
    • 316 29  -  By DANIEL BUENAS TWO Malaysian companies have formed a joint venture with a Jannie Tay-con-trolled firm to buy freehold land in Australia for As2l million (5525.1 million). The seller of the land, 81 hectares in Oyster Cove, is Van well Pty Ltd,
      316 words
  • Page 27 Advertisements
    • 1183 27 ASCOTT RESIDENCE TRUST (Constituted in the Republic of Singapore pursuant to a trust deed dated 19 January 2006) NOTICE OF BOOKS CLOSURE AND DISTRIBUTION PAYMENT DATE NOTICE IS HEREBY GIVEN THAT the Transfer Books and Register of Unitholders of Ascott Residence Trust ("ART') will be closed on 1 August 2006
      1,183 words
    • 1976 27 N JK CH OFFSHORE LTD. (Incorporated in the Republic of Singapore) (Company Registration No. *****0666 D) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of CH Offshore Ltd. (the "Company") will be held at 390 Jalan Ahmad Ibrahim, Singapore *****5 on 10 August 2006
      1,976 words

  • Page 28 Advertisements
    • 303 28 ARDMORE PARK SUPER LUXURIOUS DEVELOPMENT SITE FOR SALE BY TENDER ✓f V V Excellent address 1A Ardmore Park X If Emma pi y\ Prestigious Location HSHi YA Quiet locality, Ideal for super I j Y&\ luxury condominium y/f\te^ development Site area approximately 60,533 sa ft Plot Ratio 2.8 Hyatt How
      303 words
    • 191 28 PAN-ISLAND EXPRESSWAY (PIE) _J FLAMINGO VALLEY MM I 7 |S1 H f M I Large freehold site in district 15 UPPER CHANGi RD I and: 335.161 sa ft ii Q n g rdelios/ Plot ratio 1.4, up to 5-storeys i Close to amenities, good schools and 2 UPPER EA st
      191 words

  • Page 29 Advertisements
    • 277 29 PRIME FREEHOLD DEVELOPMENT SITE FOR SALE ~~Z Prominent Corner Location @St. Thomas Walk g— —~7<?/ Proximity to Orchard Road Ay 9 Ay Walking distance to Somerset MRT station PEVOW «H' RE Rp KgsL" o EBE "Q Freehold \*S. Land area approximately 19,96? sa ft Mr/ Rotßatio2,B PIVEB IVER x Contact:
      277 words
    • 325 29 W HBM M s«*> \F*eoussa Freehold; Land 98,309 sf yy M V mtCT East Coast Ave East Coast Terrace V-— oa 3-storey mixed landed zone ST" High baseline GPR of 1.372 par»d« Large site; rarely available JSclg. Double road frontage; regular shape Clqsing on 8 Aug 2006 (Tue), 2.30pm Option
      325 words

  • Page 30 Advertisements
    • 97 30 •nftw t. >>Z——- gmg j mm jj .j .F&V mtm \S^^ #i»'' pf Jl fm r it* J -dBI v JBtow h -nl fl A J V St jß^, i -■h^/..; v f nKSCKRRVa H^~ jfSQS SkS*" **SfeilL -4 Jw~" -^w^'^ j V^*~y"^' "f v r 5 v j r
      97 words