The Business Times, 1 August 2006

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Total Pages: 29
1 30 The Business Times
  • 14 1 THE BUSINESS TIMES SINGAPORE {HrcGnts online at http://business-times.asial.com.sg MICA (P) 099/03/2006 Tuesday, August 1,2006
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  • 649 1  -  Citigroup exploring options like IPO or private equity deal for four founding stakeholders By VEN SREENIVASAN tSINGAPORE] Singapore Airlines (SIA) could rake in more than US$5OO million from selling its stake in Singapore Aircraft Leasing Enterprise (SALE). That is, if
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  • 131 1 sn (+15.99) ST INDEX FUTURES 2,424.00 (-5.00) siMsa ***** (+2.15) SIMSa FUTURES 287.60 (-0.90) MARKETS Monday Change KLSECOMP 935.85 >1.13 p NIKKEI 225 15,456.81 +113.94 HANG SENG 16,971.34 +16.30 SET INDEX 691.49 +0.06 JAKARTA COMP 1.351.65 +14.24 MANILA COMP 2.390.84 +61.27 SEOUL COMP 1.297.87 +0.75 SHENZHENB 285.31 -<26
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  • 648 1  -  Response seen as strong; Harrahs/Keppel surprises with its entry By ARTHUR SIM [SINGAPORE] The Harrahs-Kep-pel Land consortium, despite market speculation to the contrary, is among four groups announced by the Singapore .Tourism Board yesterday to be bidding for the
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  • Page 1 Advertisements
    • 157 1 S I p f 4 ■W sme spotlight Newfflowfe^strategy »•> s rw AVIATION ~/2* MAS hikes domestic ~JM PAGE 20 ,4L-J. "i. --7W ;»a*x.?& i *.f..>»,"!*,.v<l'- S'PORE STOCKS July market cap edgesuptos4Bs.sb PAGE 4 ANALYSIS Laggard DBS now the leader PAGE 5 ULYMB/NARDIN T~i rp X Since 1846 LB LOCLI
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    • 30 1 HHHY T —HI frittlS HB f- Emi Hi *f& jm^ KY HPfl il il'ft k nrftll |< mm fe 1 jijt^Spn China's Cosco Shipyard in USsll3m expansion drive PG 21 nn
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  • TOP STORIES
    • 186 2 [SINGAPORE] Raffles Medical Group co-founder and exe<hitive chairman Loo Choon Yong has pledged 10 million of his own shares worth $8.9 million to a charity at a dinner on Saturday to celebrate the company's 30th anniversary. The
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    • 575 2  -  Record 81.500 jobs created in H1 negated by labour supply increase By CHUANG PECK MING [SINGAPORE] The jobless rate rose to 2.9 per cent in June, even though a record 81,500 jobs were created in the first six months of the year,
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    • 673 2 MAS seeks more powers to deal with bank failures THE Monetary Authority of Singapore wants more muscle to protect depositors and maintain the stability of the financial system should a bank fail. MAS says its role in resolving a bank failure is now limited and it wants greater
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    • 477 2  -  Xpress breakaway group challenging the big players By WONG WEI KONG [SINGAPORE] Investment bankers and investor relations firms aren't the only ones battling it out for a slice of the IPO pie. A new entrant is shaking things up in the prospectus printing
      477 words
    • 582 3  -  Consultation paper on proposed changes to Banking Act released By LESLIE YEE [SINGAPORE] The Monetary Authority of Singapore (MAS) wants more muscle to protect depositors and maintain the stability of the financial system should a bank fail. MAS says its role
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    • 574 3  -  Land price of the site expected to be $550-$600 psf ppr By KALPANA RASHIWALA {SINGAPORE] Sentosa Cove Pte Ltd (SCPL) is putting up for sale the last major site in the Northern Residential Precinct of the upscale waterfront residential enclave. The
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  • Page 2 Advertisements

  • Page 3 Advertisements
    • 209 3 Our unrivalled range of markets indudes thousands of individual shares, plus FX and global stock indices. /J AA ri 1 O Opening a position is quick and easy, and all our products are available through our multilingual online platform. \\)D 03/U D I IO Share CFDs igmarkets.com.sg Go long or
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  • COMPANY NEWS
    • 876 4  -  Recovery helped by blue chip gains, stronger corporate earnings reports By CONRAD TAN SINGAPORE'S stock market continued to recover in July from its sharp fall in May, helped by gains in blue chips driven by takeover speculation and stronger-than-expected corporate earnings reports. As
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    • 688 4  -  HOCK LOCK SIEW By CONRAD RAJ I HAD planned to attend the annual general meeting (AGM) of national carrier Singapore Airlines yesterday as a shareholder. (OK, so I've got only one lot.) However, I discovered to my consternation that as a
      688 words
    • 800 5  -  NEWS ANALYSIS DBS Group is well ahead of UOB, OCBC in share price performance By LESLIE YEE THIS year is looking good for DBS Group. A strong first quarter has been followed by an impressive second quarter. The bank's latest quarterly results show it is
      FILE PHOTO  -  800 words
    • 339 5  -  By KRITI SINGH YELLOW Pages (Singapore) said yesterday that it secured contract sales of $51.04 million during its FY2007 Singapore Phone Directory (SPD) canvassing exercise between September 2005 and May 2006. The telephone directory publisher generated contract sales of $50.67 million during its FY2006
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    • 275 5  -  By MATTHEW PHAN SESDAQ-listed Sunpower Group, which customises energy saving and environmental protection products for various industries, has secured a turnkey contract worth 90 million yuan, or 5517.8 million, to build a salty waste water treatment plant for the China Shenhua
      275 words
    • 576 6  -  Net earnings grow 30% to $51 mas group gets more high-value deals By DONALD URQUHART SHIPYARD and shipping group Cosco Corporation (Singapore) saw net profit for the second quarter this year rise 30 per cent to $51 million on the back of strong ship-repair
      ARTHUR LEE  -  576 words
    • 324 6  -  By OH BOON PING PRECISION machine components and parts maker Innovalues Precision yesterday reported a 40.4 per cent rise in net income to $5.6 million for half-year ended June 30, as revenue rose 33.1 per cent to $57.5 million. Innovalues said the higher sales
      324 words
    • 340 6  -  Net profit lifted by strong show in Q2 By NANDE KHIN TESTING services company Global Testing Corporation yesterday reported a doubling in second-quarter net profit to US$5.lB million, lifting the bottom line for the first half to more than US$lO million. "The improvement
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    • 260 6 NUMBER Q.09MG CROSS MATURITY YEAR RAISED COUPON AMOUNT INTEREST OF DAYS Of PRICES' REDEMPTION GMCODC DATE RATE (Sm) PAYMENT ACCRUED (EXCLUDING YIELD <%pa) DATES INTEREST ACCRUED INTEREST) (%P») 01.*****6 N*****1F 2004 1 3/8 2600.00 1/2 1/8 180 99.99 5.00 S672S*****17 01.*****7
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    • COMPANY BRIEFS
      • 33 6 UNITED Overseas Insurance yesterday said that net profit plunged almost 63 per cent to $2.3 million. The company has declared an interim dividend of 5 cents per share.
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      • 76 6 THE "long stop date" under the investment agreement for Oei Hong Leong Foundation and Heshe Holdings to invest in troubled waste recycler Citiraya Industries has been extended to Aug 31. Heshe said yesterday that the judicial managers of Citiraya have agreed to the extension on
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      • 39 6 RICHARD Hale has been appointed chairman of Capita Commercial Trust Management Ltd (CCTML) with effect from today. Mr Hale also holds directorships in Capita Land, The Ascott Group, SembCorp Industries Ltd and Wheelock Properties.
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      • 28 6 PEARL Energy will be delisted from the Singapore Exchange tomorrow. Aabar Petroleum Investments Company's acquisition of Pearl Energy was completed last Friday.
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      • 44 6 TAN Eng Kwee has resigned as chief financial officer of Thakral Corporation Ltd. His last day with the company will be Aug 31. Group financial controller Anil Daryanani will replace Mr Tan until a new CFO is appointed.
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      • 66 6 WILMAR International has priced its compliance placement of 375 million shares at 80 cents per share —which is near the upper end of its indicative price range of 62 cents to 85 cents following a bookbuilding exercise. CIMB-GK Securities, Wilmar's overallotment and stabilisation agent,
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      • 60 6 UNITED Overseas Bank has received acceptances of more than 67 million shares in United Overseas Bank (Thai) Public Company UOB, representing 0.82 per cent of UOB Thai's share capital. UOB's stake in UOB Thai has increased to 99.58 per cent. It will thus proceed to
        60 words
      • 60 6 UNITED Food Holdings has reported a 19.9 per cent increase in second-quarter net profit to 46 million yuan (S$9.2 million), lifting its half-year profit by 7.23 per cent to 102.9 million yuan. Turnover for the quarter ended June 30,2006 came to
        60 words
    • 505 6  -  By OH BOON PING CITIGROUP says property firm Keppel Land is set to benefit from the continued strengthening of the office rental market here, and also finds Wing Tai Holdings an attractive stock. Both were given "buy" recommendations. In a report last week, Citigroup
      505 words
    • 290 6  -  By WINSTON CHAI CONTINUING its recent boom, Aztech yesterday reported a 75 per cent jump in its half-year net profit to $7.2 million. For the six months ended June 30, 2006, the Sin-gapore-based contract manufacturer and communications gear maker recorded turnover of $101.1
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    • 223 6 COLORLAND Animated Ltd's results for the half year ended June 30, 2006 are unlikely to be in line with the prospect statement made when it announced its full-year results for FY2005, the company said in a profit warning statement yesterday. In the full-year result announcement
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  • Page 4 Advertisements
    • 1746 4 Tan Chong International Limited fTAnCHOnG (Incorporated in Bermuda with limited liability) INTERNATIONAL (Stock Code: 693) INTERIM RESL LTS Dividends The Board of Directors (the "Board") wishes to announce the following unaudited results of the Group for the six months months ended ended 30 June 2006. 30 June Consolidated Income Statement
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  • Page 5 Advertisements
    • 546 5 Make your CPF money work harder by investing with UOB. *On the 4th of April 2006, The Straits Times reported that 'among to live comfortably through your retirement. That's why we've all active CPF members, the median amount saved is 5566,400'. introduced a series of CPF-registered unit trusts, which aims
      546 words


  • Page 7 Advertisements
    • 374 7 22 EKm jß| M Bl jm I^l f J^^bl BBISSPtr ml j MssSß PI WR^!lB-' IIJ 4 Is your IT system prepared for sudden surges in activity? As the demands on your IT system increase, but the solid reliability from our experience in MHMMiipfrf your blood pressure needn't go up
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  • SINGAPORE MARKETS
    • 521 8  -  STOCKS Weaker-than-expected US GDP numbers fuel talk that the Fed has less reason to continue its rate hikes TEH HOOI LING Senior Correspondent POSITIVE sentiment from the US last week on hopes that the rising interest rate cycle would end helped the Straits Times
      Source: Bloomberg  -  521 words
    • 1031 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Jul 31 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Stock Date Director Sell '000 Shr S fOOO) C000) Fragrance Grp 31-Jul-06 LimWanLooi *Buy 28 0.72 *****9 71.89 *****7 71.90 Fragrance Grp 31-Jul-06 Koh Wee
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    • Article, Illustration
      862 8  -  Compiled by MATTHEW PHAN DBS Group July 31 dos«: $18.10 CITIGROUP RESEARCH, July 30 THE $0.20 fall in DBS share price post-2Q result suggested that the market had either discounted the strong numbers or remains concerned about future earnings. We have raised 2006 profits 7 per cent mainly for
      Source: Bloomberg  -  862 words
    • 516 8  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar came under heavy fire in Asia yesterday, hurt by a deadly combination of bad news from the home front and more bullish news abroad for some of its key counterparts in Asia and elsewhere. Q2 2006
      Source: Reuters  -  516 words

  • SINGAPORE NEWS
    • 547 9  -  Their small size might tempt end-users, rather than developers, to make bids By UMA SHANKARI THREE industrial land sites totalling 4.1 ha are on the latest confirmed list of the Government Industrial Land Sales Programme. They are significantly smaller than the
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    • 151 9 SINGAPORE Telecommunications (Sing Tel) yesterday said it has sold its site at No 50 West Coast Road for $33 million to FCL Loft Pte Ltd, a wholly owned subsidiary of F raser Centrepoint Properties Ltd. The site was previously used for bulk
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    • 445 9  -  By CHEN HUIFEN UP to $23.4 million of funding is being sought by seven technology start-ups here as they prepare to embark on their next phase of growth. The firms made their pitches yesterday at a venture capital (VC) forum attended by
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    • 74 9 WITH National Day just eight days away. Haw Par Villa has put up dozens offlags to celebrate Singapore 's4lst birthday. Some 10.000 Comfort Delgro taxis and 2.500 SBS buses are also taking the lead by displaying specially designed mini-flags. And private vehicle owners will soon be
      ARTHUR LEE  -  74 words
    • 147 9 GE Money Singapore yesterday announced the appointment of Iqbal Singh as its new chief executive, replacing Greg O'Callaghan, who has been promoted. GE Money is the consumer finance arm of global giant General Electric. Mr Singh was previously regional vice-president of GE Money
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    • 586 9  -  Seed fund among new initiatives by EDB-private tie-up By CHEW XIANG ENTREPRENEURS big on ideas but small on cash, struggling to survive on a wing and a prayer, may soon find their prayers answered by a less-than-ce-lestial angel Francis Chua. And like his
      586 words
    • 163 10 A NEW category is being added to the Singapore Advertising Hall of Fame Awards 2006 The Creative Director of the Year. Sponsored by SMRT Media and created by Institute of Advertising Singapore (lAS), this award, along with the other 18 categories, will be
      163 words
    • 541 10  -  What'll count most is ability to attract, host major events By NANDE KHIN THE Invitation to Tender (ITT) for the Singapore Sports Hub was launched by the government yesterday. And among the factors to be taken into consideration, the
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    • 5719 10 UNIT TRUSTS FUNDS ACMGI Amet Income BT USD 8.52/ ACMGI Amer Income A USO 8.47/ U|J ACMGI Amet Income B USO 147/ (ypore| ACMGI Amet Income A EUR 6.64/ ACMGI Amet Income B EUR 664/ 12 ACMGI Euop Income Opp AT SGO 1506/ SorEjope.M-.-_ Vf® ACMGI Europ Income Opp BT
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  • Page 9 Advertisements
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    • 26 9 All in a day's work with it zz===: I i > I s I —l I —l I —l w* LhJ I iJ ***** 1 .(ff*). '(Hl*
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  • Page 10 Advertisements
    • 37 10 V SBH 18 AllianzGl RCM Global Twin-Focus Fund a fund that offers you twin benefits AlliailZ (j|j\ P&% f of potential quarterly payouts and limits possible downside. Visit OCBC Bank for Global investors^ 1 mor e details.
      37 words

  • SMEspotlight
    • 1196 11  -  MATTHEW PHAN finds out how owners of prominent SMEs stop the brain drain in their companies and what HR agencies recommend MATTHEW PHAN WAGE competition among multinationals (MNCs) is rife in many fields, from software development to finance and accounting to engineering, and feeds down
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    • 659 11  -  By NOOR AISHA TIRED of chatting via the small screen of your computer, where you can barely catch a glimpse of the other party with your webcam? Local company SPL Innotech thinks it has the answer to your needs. Established in 2001, SPL
      659 words
    • 636 12  -  SMALL CAPS The listed company is starting real-estate development and asset management services to grow its business, its GEO tells OH BOON PING OH BOON PING SINGAPORE-LISTED property firm Japan Land has added two new growth engines property development and asset management services to
      YEN MENG JIIN  -  636 words
    • 293 12  -  By TEH HOOI LING IMPROVING sentiment last week lifted our portfolio more than the general market. Compared with July 10, our portfolio was up 1.3 per cent. In contrast, the UOB Sesdaq Index slid 1.2 per cent while the Straits Times Index edged up a marginal
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  • Page 11 Advertisements
    • 66 11 t Think short term less Tired of stopgap solutions? Let UPS power your global business with long-term solutions. Apart from express delivery services, UPS can support your global business by providing inventory management and supply chain solutions so you can save time, cut costs and speed up cash flow for
      66 words

  • Page 12 Advertisements
    • 2253 12 :»ATci £0 NOTICES BUY IT SELL It- FIND IT NOTICE TO BONDHOLDERS TINCEL LIMITED (Company Registration No. *****7093Z) (i) *****,000,000 5 Par Cant. Senior Secured Bonds Due 2011 ("Senior Bonds") (H) *****,500,000 7.4 Par Cent. Junior Secured Bonds Due 2011 ("Junior Bonds" and, together with the Senior Bonds, the "Bonds")
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    • 47 12 i m m m& simim~ »i wnkmmm»mmimmmmm -mhmmmhhkswmmmmmminhmmmm iv smsmhwmtum I <3eta \yr —fl. Leading Edge I L/ Your sailing schedules get wider attention in The Business Times shipping pages J Call Bernard Ong at 631 9-1 645 or Michael Chng at 6319-2062 _T* busmbsTmes SHIPPING TIMES
      47 words

  • EMPOWERING SMEs
    • 1329 13  -  NANDE KHIN highlights some commonly asked questions on issues of trade, cash and treasury NANDE KHIN OVER the past four weeks, this series on Empowering SMEs has looked at the suite of banking services and instruments to facilitate small and medium-sized enterprises
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  • Page 13 Advertisements
    • 333 13 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
      333 words
    • 49 13 Lucky draw winner ALL those who submitted their questions to Citigroup Commercial Banking Group (CBG) over the last four weeks qualified for the lucky draw on July 28. The lucky winner is Mr Wan Kum Tho, NRIC S~"080G. Mr Wan wins two return air tickets to Sydney or Melbourne.
      49 words

  • ECONOMY WATCH
    • 618 14 IMF: Overvalued property, energy prices, inflation could all bode ill AFP [WASHINGTON] The Internationa] Monetary Fund (IMF) says the US economy is on course for a "soft landing" but that an overvalued property market, sky-high energy prices and rising inflation could
      AFP  -  618 words
    • 266 14 Bernama [KUALA LUMPUR] Malaysia's foreign direct investment (FDI) is not affected despite few foreign companies moving out to invest in other countries, International Trade and Industry (Miti) parliamentary secretary Tan Yee Kew said on Sunday. She said Malaysia had been able to
      Bernama  -  266 words
    • 468 14 Negotiations possible in a few weeks: Blair Reuters [SAN FRANCISCO] US President George W Bush and British Prime Minister Tony Blair have agreed to make "one final effort" to revive stalled global trade talks. Mr Blair said on Sunday, voicing hope
      Reuters; AP  -  468 words
    • 514 14 Consumption slumps, exports see downturn [JAKARTA] If Indonesia's economy was a jumbo jet. it would be flying on the single engine of exports at the moment, with the other engines of private consumption, investment and government spending having stalled out, says a report
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  • Page 14 Advertisements
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      164 words
    • 32 14 Petite Nouilles The Best Noodle Shop Marina Square #02-168, Tel: 6336 3283 15% off total bill on a la carte menu Only when you charge to your Diners Club Card. T&C Apply.
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    • 23 14 STONEGRILL 91 East Coast Road. Tel: 6348 1211 15% off total bill Only when you charge to your Diners Club Card. T&C Apply.
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  • MALAYSIA
    • 310 15 PwC report points to decisions taken, funds used without board approval AFP [KUALA LUMPUR] Malaysia's national carmaker Proton is looking into an audit report which accused the company's previous management of poor corporate governance, a report said yesterday. Proton's managing director, Syed Zainal
      AFP; BLOOMBERG  -  310 words
    • 547 15  -  NEWS ANALYSIS By S JAYASANKARAN in Kuala Lumpur NEITHER a pepper spray attack, nor age nor a heart condition is deterring former premier Mahathir Mohamad from continuing with his outbursts against his chosen successor, Abdullah Ahmad Badawi. An unknown assailant sprayed him
      547 words
    • 160 15 AP [KUALA LUMPUR] The Malaysian government released a booklet yesterday defending its decision to abandon plans to build a new bridge to Singapore, following harsh criticism by former prime minister Mahathir Mohamad that the project should have gone ahead. Some 100,000 copies
      AP  -  160 words
    • BRIEFLY ASIA
      • 65 15 Reuters [HONGKONG] Hang Seng Bank, a unit of global lender HSBC, yesterday reported a 2 per cent rise in first-half earnings, helped by fee growth at its wealth management business. Hang Seng posted a profit of HK$6.l9 billion (551.25 billion) for the first
        Reuters  -  65 words
      • 101 15 Reuters [SHANGHAI] The sixth and seventh largest steel mills in China are likely to merge by the end of October, creating the country's second-biggest producer, the China Securities Journal reported on yesterday. The government of China's eastern province of Shandong has given
        Reuters  -  101 words
      • 75 15 Bloomberg [SHANGHAI] Bank of China said it has started to pool as much as 20 billion yuan (553.9 billion) of yuan-denominated savings from clients to invest in fixed-income products abroad. Bank of China will convert yuan deposits from customers into US dollars for
        Bloomberg  -  75 words
    • 2335 15 VOt General Corp .0.62 unch 138 W fW> Genting 35.00 0.10 367 George Kent 0.48 unch 6 ASM Realty 130 0.04 0 GHLSystems 0.22 unch 1806 A*** 033 u"* 6 Globetronics Tech 0.31 -0.02 1244 ACP industries 0.88 -0.01 99 GlomacBhd 1.19 0.01 41 Advance Synergy 0.19 unch
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  • Page 15 Advertisements
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  • Page 16/17 Advertisements
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  • GREATER CHINA/INDIA
    • 489 18 Sources say move was directed by the government Reuters [SHANGHAI] Wang Guoliang, chairman of the China Pacific Insurance group, the country's thirdlargest life insurer, has resigned unexpectedly ahead of the group's planned listing in Hong Kong later this year, industry sources said yesterday.
      Reuters  -  489 words
    • 229 18 Bloomberg [MUMBAI] Sabre Capital Worldwide Inc and Singapore investment company Temasek Holdings aim to raise 250 billion rupees (SsB.s billion) through a joint-venture mutual fund that will invest in Indian equities and bonds. Lotus India Mutual Fund has received approval from the
      Bloomberg  -  229 words
    • 337 18 [KUALA LUMPUR] India's Spice Communications, an associate of Malaysia's biggest phone company Telekom Malaysia Bhd (TM), is planning to raise US$25O million in an initial public offering (IPO), Malaysia's Business Times reported, citing sources. < It quoted a source close to the
      337 words
    • 298 18 Bloomberg [MYSORE] Infosys Technologies Ltd, India's secondlargest software exporter, plans to give its employees a cash bonus as it commemorates its 25th year, chairman N R Narayana Murthy said on Sunday. The company's 58,409 employees will be paid 1.26 billion rupee (5542.7 mil-
      Bloomberg; BLOOMBERG  -  298 words
    • 367 18 Bloomberg [HONG KONG] China's yu-an-denominated A shares will further outperform mainland stocks listed in Hong Kong this year as initial public offerings by some of the nation's biggest companies lure more investors into the market, according to JPMorgan Chase Co. China in
      Bloomberg  -  367 words
  • Page 18 Advertisements
    • 257 18 Organized By Main Sponsor SINGAPORE INDIAN CHAMBER WOM I AB 1 OF COMMERCE tJI I INDUSTRY W 1 SICCI-DBS Singapore Indian Entrepreneur Awards 2006 The Indian business community in Singapore has always taken great pride of its entrepreneurial spirit and drive to seek out new opportunities. The 'SICCI DBS Singapore
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    • 5 18 K iMBA c I^Hr life
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    • 217 18 <0 NOTICES NOTICE OF MEETING IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF NUANSA LEISURE PTE LTD (IN CREDITORS' VOLUNTARY LIQUIDATION) (Company Registration No.: *****Z765N) Take notice that a meeting of conMxitories and credtors in the above matter will be held at 6 Shenton
      217 words

  • ASIA-PACIFIC/WORLD
    • 548 19 Australian PM to seek re-election next year; Treasurer Costello to stay put AP [CANBERRA] Australian Treasurer Peter Costello said he will remain in the position and said a leadership dispute with Prime Minister John Howard was "settled". Mr Howard said yesterday he would remain in
      AP; AFP  -  548 words
    • 528 19 AFP [HONG KONG] Global banking giant HSBC posted bet-ter-than-expected first-half profits yesterday, with pretax profit up 18 per cent to U5512.52 billion and net profit up 15 per cent to US$B.73 billion. Analysts had expected the bank to post pretax profit of U5511.47
      AFP  -  528 words
    • 429 19 Reuters [TYRE, Lebanon] Villagers flying white flags from cars, buses and pickup trucks flooded out of south Lebanon yesterday after US Secretary of State Condoleezza Rice won from Israel a brief suspension of devastating air strikes. Ms Rice said she believed a cease-fire to
      Reuters; AP  -  429 words
    • 319 19 Bloomberg [NEW YORK] NYSE Group Inc, owner of the world's biggest stock exchange, will allow specialist firms that match buyers and sellers of shares to reduce the amount of cash they must keep on hand, potentially boosting their profits. The
      Bloomberg  -  319 words
    • WORLD WATCH
      • 39 19 Reuters [MOSCOW] A Russian court has impounded the family home of jailed tycoon Mikhail Khodorkovsky as part of a continuing probe into tax evasion at his YUKOS oil company, his wife said. Reuters
        Reuters  -  39 words
      • 101 19 Reuters [TOKYO] Mitsubishi UFJ Financial Group (MUFG), the world's biggest bank by assets, said quarterly profit fell 16 per cent from a year earlier due to losses on its bond holdings. Rival Mizuho Financial Group had a 33 per cent earnings gain. Group net
        Reuters  -  101 words
      • 46 19 Bloomberg [CHICAGO] San Disk Corp, the world's largest maker of memory cards in consumer electronics, agreed to buy M-Systems Flash Disk Pioneers Ltd for about US$l.3 billion in stock to add more products that store songs in mobile phones. Bloomberg
        Bloomberg  -  46 words
      • 80 19 Reuters [TOKYO] Toshiba Corp said yesterday it swung to a quarterly profit, buoyed by strong demand for its core flash memory chips, and kept its forecast for alO per cent rise in full-year profit. Toshiba posted an operating profit for April-June 0f20.84 billion yen,
        Reuters  -  80 words
      • 71 19 Reuters [AMSTERDAM] ABN AMRO reported yesterday a 23 per cent rise in second-quarter net profit and the sale of its Bouwfonds property unit for 1.7 billion euros (553.4 billion). It made a net profit of 1.216 billion euros in the three months, up from
        Reuters  -  71 words
  • Page 19 Advertisements
    • 597 19 NOTICES IN THE MATTER Of IMC COMPANIES ACT, CAT. 50 AND IN THE MATTER OF OCK REALTY PRIVATE LIMITED (IN MEMBERS' VOLUNTARY LIQUIDATION) CO. REG. NO. *****0502K NOTICE Of FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Ad, Cap. 50, that a Final Meeting of
      597 words
    • 623 19 IN THE MATTER Of THE COMPANIES ACT, CAP. 50 AND IN THE MATTBt Of HARVINGTON PTE UD *****3167 C) (Members' Voluntary Liquidation) NOTICE IS HEREBY GIVEN, that pursuant to Section 308 of the Companies Act, Cap. 50, the final meeting of the member* of the obovenomed Company wM be held
      623 words

  • AVIATION
    • 439 20 Moves aimed at helping carrier to get back into the black next year Reuters [KUALA LUMPUR] Lossmaking Malaysian Airline System Bhd will raise domestic fuel surcharges by up to 42 per cent from today, chief executive Idris Jala said yesterday.
      Reuters; AP  -  439 words
    • LOG BOOK
      • 76 20 Bloomberg [TOKYO] All Nippon Airways Co, Japan's second-largest airline by sales, said first-quarter net income more than tripled, after it booted fuel hedging and won more passengers from Japan Airlines Corp. Net income rose to 7.7 billion yen (*****.3 million) for the three months
        Bloomberg  -  76 words
      • 87 20 AFP [KUALA LUMPUR] Low-cost carrier Air Asia said yesterday it had received the green light from Malaysia's transport ministry to ply two destinations in China, and expected to start flights in two to three months. Air Asia's CEO Tony Fernandes hailed the
        AFP  -  87 words
      • 101 20 Bloomberg [NEW DELHI] Jet Airways (India) Ltd, the nation's biggest domestic carrier, said it may have to write off this year 1.8 billion rupees (5561.1 million) in advances paid to Sahara Airlines Ltd after a plan to buy the carrier failed. Jet
        Bloomberg  -  101 words
    • 460 20 They will buy 350 m shares, totalling a 2.88% stake Bloomberg [BEIJING] Sinotrans Air Transportation Development Co, PICC Property Casualty Co and five other Chinese companies will buy at least 2.88 per cent of Air China Ltd, as the country's largest
      Bloomberg  -  460 words
    • 230 20 AFP [NEW DELHI] A new nofrills Indian airline said yesterday it planned to begin scheduled flights this week in skies that are already crowded with money-losing carriers. IndiGo, the latest in a clutch of new airlines seeking to tap India's burgeoning passenger
      AFP  -  230 words
    • 2326 20 cut war «t* mar wo ABllllil LH9771 17S0 AF8088 2215 SQ230 1750 8A7382 2215 AF8087 1850 QF82 2215 BA7381 1850 LH9770 2345 QUI 1850 SQ SQ442 2015 Ill ft L***** 0630 AZ3993 2255 SQ323 0630 KL838 2255 AZ3992 1530 L***** 2345 ICL837 1530 5Q324 2345 A*—
      2,326 words
  • Page 20 Advertisements
    • 125 20 BT/ZUJI Deals of the Week I A mnw 9fm FIRST CLASS (from S) BUSINESS CLASS (from HOTEL (from Paris $2,899 $830 $91 < Thai Airways Rnnair QgWAnOWS BUSINESS CLASS (W) ECONOMY CLASS (from S) HOTEL (from MATHER Manila $710 (PhippineAirtines) $310 (WlippineAirtines) $99 Hong Kong $1,197 $350(t*hayPwfc) $92 4% R*
      125 words
  • Page 20 Miscellaneous
    • 222 20 CRYPTIC CROSSWORD DOWN 1 One with nothing on (6) to the old (7) YESTERDAY'S SOLUTION 2 Company tore up arrange- 17 Passage not paid to be sacred Across: 6 Just the ticket, BAt ease, ment(6) 9 Tent-pole, 10 Lee, 11 Cruise, 12 3 Esteems values of various 18 Superior share
      222 words

  • SHIPPING
    • 588 21  -  It will expand its Zhoushan, Nantong and Guangzhou yards to boost capacity by 28% By DONALD URQUHART ISINGAPOBE] China's largest shipyard group, the Cosco Shipyard Group (CSG), is pumping in US$ll3 million to expand three of its seven shipyards, boosting its capacity by
      FILE PHOTO  -  588 words
    • 346 21 Reuters [NAIROBI] Somali militiamen freed a South Korean trawler and its 25-man crew on Sunday and were probably paid about US$4OO,OOO for their release, an east African maritime organisation said. "The ship's free now and away to the high seas." Andrew Mwangura of the
      Reuters  -  346 words
    • PORT SHOTS
      • 120 21 volatility". —Anderimar Shipping News [LONDON] Belgian owner CMB, whose main business activity is dry bulker operation Bocimar, made a net profit of 68 million euros (S$ 136.9 million) in the first half of this year, compared to 78 million euros in the same
        volatility". —Anderimar Shipping News  -  120 words
      • 137 21 Anderimar Shipping News [LONDON] A buoyant LPG market, the sale of shares in four vessels and the sale of a holding in sale of terminal operator Hesse-Noord Natie helped boost Belgian gas carrier operator Exmar's net profit from US$2l.7 million in the first half
        Anderimar Shipping News  -  137 words
      • 57 21 Bloomberg [LONDON] Nordic American Tanker Shipping Ltd, which operates 10 tankers to transport oil, bought two second-hand million-barrel crude carriers for U*****.1 million, the company said. Nordic American expects the acquisitions to boost dividends and earnings per share, the Hamilton, Bermuda-based company said yesterday
        Bloomberg  -  57 words
    • 288 21 [SINGAPORE] PSA's Voltri Terminal Europa (VTE) has expanded its container handling capabilities with the addition of a new quay crane, the first of two ordered. With this addition, VTE, PSA International's major gateway to Central and Southern Europe, has a total of 10 at
      PSA SINPORT  -  288 words
    • 336 21  -  Sulphuric acid cargo neutralised by seawater By ALEC ALMAZAN in Manila THE danger of a hazardous chemical spill at Keppel's Batangas Shipyard has diminished following the discovery by salvage divers that the sulphuric acid cargo carried by a chemical barge, which sank at the shipyard's
      336 words
    • 203 21  -  By DAVID HUGHES in London MALAYSIAN shipbuilder Nautica Nova Shipbuilding Engineering (NNSE) has won an order from Dutch salvage and towage company Multraship Towage Salvage for two innovative tugs. Multraship will not say how much they are paying for the combi-tugs which incorporate the
      203 words
    • 306 21 Reuters [SINGAPORE] South Korea's largest crude oil transporter, SK Shipping, has placed a US$25O million order for two supertankers with a domestic shipyard, in an attempt to tap into healthy global freight rates, an SK spokesman said yesterday. The orders, placed with Hyundai
      Reuters  -  306 words
    • 281 21 SGX '000 Jul 31 SS Vol CH Offshore .0.3S 19 ChuanHup .0.33 unch 275 Cosco Corporation 1.53 0.03 ***** CWT Distribution .0.63 0.01 185 Ezra Hldgs .2.50 0.08 1901 Freight unks 0.06 -0.01 530 Grand Banks Yacht 0.92 -0.01 5 Java Holdings 1.36 0.02 1034 K1 Venture .0.36
      281 words

  • EDITORIAL & OPINION
    • 544 22 EDITORIAL THUS runs the argument: Australia's inflation rate the consumer prices have risen at the fastest pace in almost six years in the second quarter to 4 per cent from a year earlier is due entirely to a cyclone that destroyed the banana crop. The fruit is
      544 words
    • 1134 22  -  Measures taken have yet to show results, and effects of a hard landing will hit far and wide By FRIEDRICH WU OWING to Chinese leaders' lack of understanding of the volatile economic forces unleashed by the "Open Door" policy and their inexperience
      AP  -  1,134 words
    • 772 22  -  THE BOTTOM LINE YOGI AGGARWAL TRADE, and the terms on which it is done, has acquired a new edge. After the breakdown of the World Trade Organisation (WTO) talks last week, the battle lines were as clearly drawn as the United States faced concerted
      772 words
    • 1610 23  -  It's time for the Europeans to get more active in diplomatic efforts instead of taking a free ride on American policy LEON HADAR Washington Correspondent It feels like deja vu all over again. US official leaves for a conference in
      AFP  -  1,610 words
    • 782 23  -  By JENNIFER WASHBURN Most of us place enormous faith in our universities. We trust that they are autonomous, independent institutions committed to education, scholarship, academic freedom and the production of knowledge free from the influence of special interest groups. Right? Wrong. In the last
      AP  -  782 words


  • 9616 24 SGX MAINBOARD U* TM 14M M 0*i UMOMM OO* CM* MM MM MCa I— c— cw)f SM» *t- rWM Wl» I— n> S«— CM P« 1 t in* 1«SoTv»ar»5c 15 unch 2S I 2S 2 IS 101 U 6 JIM 8Te«ecomU52c 7 unch 40 7 7 45 I
    9,616 words
  • Page 24 Advertisements
    • 97 24 Welcome to Our onlu )t;('([.) ti in K) S( vi< ?i*.«••, ",nu f.r-t and >< hahl* t< > th»; w< )il< I (>f fiti;ti k icil in i■ r*-• t ti, i 1 In h Make Out atv and j with tt pn ;tt •/.k h i.il-. CI Ds (:<ii
      97 words

  • 6177 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local am In SS ta US$ dy yr dy %yr%dy Syr J" 128 Index Change Change Change Change Change Change World Index Preliminary 991.8 0.9 2.3 1.1 0.2 1.0 5.5 EAfE Preliminary MB 0.7 2J 1.1 40 1.0 9lS Europe Preliminary 1349.8
    6,177 words

  • Page 26 Advertisements
    • 1915 26 UK CONTINENT SERVICE U.B.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 f MIDDLE-EAST SERVICE F.EJS.E.A. SERVICE Destination PAN BRIGHT DBI/ABU/DOH/BRN/DMM/KWT Destination VOYAGER V DBI/ABU/DOH/BRN/DMM/KWT WIN HONEY INC/BSN GLOBAL MOKPO DBI/ABU/DOH/BRN/DMM/KWT Loads Singapore, E./W. Malaysio, Indonesia Loads E. Malaysia,
      1,915 words
    • 514 26 vOOv WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobal.com Vtssa VOT UW HEIGHT SM IK MAO SAV BAI OBF TARAGO Af623 3201NS 6.4* 09/08 11/01 09/09 13/09 17/09 IS/09 TAMOtUNI AF625 3201 m MM 26/08 20/09 29/09 03/10 07/10 05/10 |t*UIOT AH27 4001 mm 6JM It/09 10/10 19/10 23/10 28/10 28/10 Naw York
      514 words

  • Page 27 Advertisements
    • 789 27 WAN HAI INTERNATIONAL MI LTD aiKfcH4WfMOOO/B m WAN HAI UNES Sgjgagsfa- Jfc*WB»W»*|DWIMISU^t»I)am«HHU:(OJI)J?«7M/JWI»S 1 www.wanhai.com.sg *f it urn 5Wi« fa* *ni) mvu na 7iu«/7H»i M&nun a m (Ml) 4157H3 FAX: Ml) «ISMB/4Mm* ir t v<tj WEEKLY EXPRESS SERVICE TO AND FROM 1; i CALUNG SINGAPORE EVERY THURSDAY CALLING PALEMBANG EVERY SUNDAY
      789 words
    • 1059 27 [VESSEL [VOY PfCL I SIN I KARACHI I PXB I BAB I WHS PMM BIK KHOK JOUY PCL 8148 04/08 12/08 IS/08 16/08 22/08 24/08 26/08 IRAN KOftDESTAN PCL 8150 06/08 07/08 16/08 19/08 19/08 26/08 28/08 30/08 IIRANSAYTARI PCI 81S2 14/08 IS/08 24/08 27/08 28/08 29/08 04/09 06/09 I
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    • 109 27 P. T. DJAKARTA LLOYD (PERSERO) IV® AUSTRALIA FULL CONTAINM SERVICE As Agents Starship Agencies (MAI) Pie Ltd Operator Code: DJ CRNO. **********QH va Ivor I sm I pm I he I m I stb I Ma I MKISHBT QMS H/00 00/00 14/00 »/M B/00 »/00 »TIMAKU U4S U/W 15/00 tS/tt
      109 words
    • 935 27 w WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS VESSEL VOY SIM PJQANG COLOMBO M.SWVA COLOMBO gjj£. JiliUL sum JMli M*UG 12 AUG HQWHAH MIDGE 00S4W 09 AUG 10 HUG 13 AUG UAUG 20 AUG KOTA PfRWIRA YPWOB9 15 AUG 16 AUG If AUG 72
      935 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 4943 28 This ETA ETA Advartkcr Vessel Voyage Telephone ETA ETA Adv«rtfa«r Vessel Voyage Telephone SIN Dart*a Name Name Numbar Number SIN Dasfn Name Name Number Nunber IS/06 27/08 IRISL IRAN SATTARI PCI 8152 *****144 To ABIDJAN (ABJ) 2003 Cote D'tvoire I9ffi8 05/09 Nortrans THOU MARINER
      4,943 words

  • PROPERTY
    • 690 29 Revival in US$6.2t property market seen to last through the rest of 2006 Bloomberg [LONDON] UK mortgage approvals rose in June at the fastest pace in five months, the Bank of England said, a sign the revival in Britain's US$6.2 trillion property market
      Bloomberg; BLOOMBERG  -  690 words
    • 424 29 Reuters [TOKYO] Japan's Mitsui Fudosan Co Ltd said yesterday its net profit rose 86 per cent in the latest quarter, thanks largely to rising office rents, and it stuck by its full-year target to achieve a record profit. Japan's largest property company by sales
      Reuters  -  424 words
    • 350 30  -  By UMA SHANKARI AMERICAN fashion retailer Gap, whose franchise here is held by Singapore-listed FJ Benjamin, will open its first flagship store in Asia outside Japan in Wisma Atria in December, just in time for Christmas. The store will occupy about 9,000
      350 words
    • 444 30  -  Company says it has enough for a total built-up area of 8.4 m sqft By JEAN CHUA CITY Developments Ltd (CDL) has amassed more than four million square feet of land that can be developed into homes and offices. This includes
      FILE PHOTO  -  444 words
    • 440 30  -  By UMA SHANKARI ANOTHER two freehold sites are up for en bloc sale in the coveted District 9 as developers continue to show the most interest in offerings in the prime districts. Le Chateau, a residential development site at 67 Cavenagh
      440 words
  • Page 29 Advertisements
    • 27 29 Lianhe Zaobao I I *s*tsss6&3 I I Inviting tenders? Call 1800 289 8822 or email notices@sph.com.sg to book your tender notice in our newspapers now. f NOTICES
      27 words
    • 228 29 FREEHOLD DEVELOPMENT SITE: ST. MARTIN'S LODGE —1 Exclusive location > Quiet and tranquil v environment INN Site Area 19 '335 ft .Plotßatio 1.4 4store y s (fpSS. Close proximity to Orchard ORCHAWP BOULE^Lfe^-" Contact: CB Richard Ellis (Re) Ltd f Investment Properties K UM mm Tel: 6224 8181 lb 6
      228 words
    • 218 29 W' Freehold; Land 98,309 sf East Coast Ave East Coast Terrace 3-storey mixed landed zone 83T High baseline GPR of 1.372 ohu net hSjarti Large site; rarely available VA MMMiI I Double road frontage; regular shape Closing on 8 Aug 2006 (Tbe), 2.30pm I aMBiBBB!1—1 Option A Purchase 17 out
      218 words

  • Page 30 Advertisements
    • 209 30 SSSS-X V 2 6 ,e 686 sqn FREEHOLD RESIDENTIAL SITES L. Marque FOR SIMULTANEOUS SALE > p rce B: 54,898 sqft mm s. Vllla Margaux f Parcel C: 35,277 sqft sSSoI H STATION <— TOTAL: 116,861 sqft cu Sctwd MMM WKKttU ■■NMI Within Ikm of reputable schools, **2* HEST 0
      209 words
    • 170 30 =Z| for sale by tender /1 a—-J 99-Year Leasehold Amm WW tv > Slte Area: Approx. 836,424.7 tq ft tfljrV 1 S Wot Ratio 2.1 x&] I Near amenities and reputable schools About 0.5 kilometre to Queenstown MRT Station —Z. rfttßjgPj 5- m inute drive to Harbour Front Centre i
      170 words