The Business Times, 9 August 2006

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Total Pages: 31
1 32 The Business Times
  • 16 1 THE BUSINESS TIMES w SINGAPORE 85 cents online at .com.sg MICA (P) 099/03/2006 Wednesday, August 9,2006
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  • 748 1  -  Singapore economy grew a robust 9.4% in first six months By ANNA TEO [SINGAPORE] The government has for the third time this year raised its economic growth forecast for 2006, following a highly robust first half. Prime Minister Lee Hsien Loong said in
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  • 135 1 sn 2,465.04 (44.79) ST INDEX FUTURES 2449.00 (+14.00) siMsa 293.76 (+020) SIMSa FUTURES 291.80 (+0.60) MARKETS Tuesday Change KISECOMP 939.06 *0.60 NtKKEI 225 15.464.66 +310.60 HANG SENG 17,048 20 +94.65 SET INDEX 711.80 +6.45 JAKARTA COMP 1,396.06 -7.41 MANILA COMP 2,367.75 -10.88 SEOUL COMP 1,311.10 +21.56 SHENZHEN B
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  • Article, Illustration
    246 1 [SINGAPORE] The Singapore Fireworks Festival has returned to Marina Bay this year bigger and brighter. The festival opened last Saturday, with the skies above the bay lit up by a show from Team Italy. The display, on the theme of "Dynamic City", drew an enthusiastic response. On
    ST  -  246 words
  • Page 1 Advertisements
    • 187 1 ■■MfcPCEIVEO^CX STOCKS SGX to close ASX trading link page 2 I chaiges in structured |deposits M 6532 RECHARGING SINGAPORE Rebrand, remake, retrain page t3 banking is >. v***'••• m*- fc 33$ Hie Singaporeans to watch PAGE 19 s I** Y m LATEST ON US INTEREST RATES Go to http://business-tiines.asial .com.sg
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  • TOP STORIES
    • 751 2  -  Co-trading link with ASX falls victim to persistently low demand By ANGELA TAN [SINGAPORE] The only functioning trading link between the Singapore Exchange and another stock market SGX's little-used securities co-trad-ing link with the Australia Stock Exchange (ASX) is to be discontinued at
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    • 581 2  -  Group, controlled by M'sian PM's son, in political limelight By S JAYASANKARAN jn Kuala Lumpur OIL and gas firm Scomi Group th 6 Malaysian 1 premier's son's vehicle that has come under political scrutiny in the country may list one of
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    • 647 2  -  By CONRAD RAJ [{SINGAPORE] Shipping -Companies can breathe a sigh of relief and expect lower insurance rates now ;that London's insurance market has removed the controversial war-risk rating for merchant vessels us- ing the busy Strait of Malac- paReuters quoted Neil
      647 words
    • 673 2 Consumer spending could get $2b boost THE proposed liberalisation of the unsecured credit market could stimulate consumer spending and increase bank lending to consumers by $2 billion, Citigroup said yesterday. Under proposed new rules, banks will be able to lend unsecured credit to people earning as little as
      673 words
    • 67 2 IN "Banks poised for slice of moneylenders' pie" (BT, Aug 8), we said that for people earning less than $20,000 a year, the credit limit will be capped at twice the monthly income and that banks will not be able to issue them credit cards. The statement actually applies
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    • 533 3  -  Citigroup analysts see relaxed credit rules stimulating spending By SIOW LI SEN [SINGAPORE] The proposed liberalisation of the unsecured credit market could stimulate consumer spending and increase bank lending to consumers by $2 billion, Citigroup said yesterday. Under proposed new rules, banks will be
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    • 843 3  -  Lenders taking cautious approach to interest rates By LESLIE YEE, CONRAD TAN [SINGAPORE] Despite the recent upswing in the property market, owner-occupi-ers rather than investors continue to account for the bulk of new home loan applications here, according to major mortgage
      843 words
  • Page 2 Advertisements
    • 40 2 neonle Hunting season K H has begun (Target: Private Bankers) v.v.".'. t u ep*#op t-jV.vork con' Asia-Pacific Executive Search HOT IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg.
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  • Page 3 Advertisements
    • 37 3 PROPERTY HOSPITALITY FINANCIAL SERVICES I 1% /T#l I #1 Capita Land CapffaLand CawtaLand CapgaLand A&* Capita Land Capita Mall CMaCopercial A s )n -'"""Commercial Retail ILEC ASCOTT Financial Trust Trust ia«ii www.capitaland.com (|)AUSTRALAND HOLDINGS BUILDING FOR PEOPLE
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  • COMPANY NEWS
    • 619 4  -  Double-digit revenue growth for all its four lines of business By SIOW LI SEN $TARHUB Ltd yesterday posted better-than-expec-ted second-quarter net profit of $75.7 million, up 44 per cent on strong customer growth for all its businesses. The company, the second
      REUTERS  -  619 words
    • 416 4  -  By MICHELLE QUAH TROUBLED e-waste recy- cler Citiraya Industries yesterday overcame a major hurdle to its revival by securing the approval of its 1 creditors for a restructuring f>lan. Creditors representing more than 98 per cent of the amount of claims voted
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    • 653 4  -  HOCK LOCK SIEW By VEN SREENIVASAN IS LOW-PROFILE Vita Holdings steaming towards becoming an energy play? Last month, Vita which was listed on Sesdaq in January last year proposed taking a 51 per cent stake in privately held JL Chancellor (JLC)
      653 words
    • 289 4  -  By WEE LI-EN THE much-anticipated trial of two former top executives of Informatics, which was scheduled for yesterday, has been postponed to Aug 29. BT understands that Informatics founder and former chairman Wong Tai had indicated that he may plead guilty. The Subordinate Courts
      FILE PHOTO  -  289 words
    • 514 4 SINGAPORE Telecom and Vodafone are reported to have expressed interest in buying a 30 per cent stake in Taiwan Mobile from Taiwan Fixed Network, tfie Economic Daily News said yesterday, quoting an anonymous source. The acquisition would amount to 1.485 billion shares in
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    • 419 4  -  By RUCHIKA TULSHYAN COSMETIC and skincare product brand manager Beauty China yesterday reported a 30.4 per cent jump in net profit to HK526.7 million (555.4 million) for its second quarter ended June 30. The China-based company also warned that soaring oil prices
      FILE PHOTO  -  419 words
    • 533 5  -  Fall in earnings attributed to exceptional gains of $11.6 m last year By MATTHEW PHAN HYFLUX, which provides membrane-based solutions for water-treatment and other systems, nearly doubled second-quarter revenues year-on-year to $37.5 million, thanks to vigorous industrial sales. But its net profits
      FILE PHOTO  -  533 words
    • 287 5 KOH Brothers yesterday posted a 33 per cent increase in first-half net profit to $1.3 million. Operating profit improved 32 per cent to $5 million for the six months ended June 30, from $3.8 million in the corresponding period last year.
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    • 416 5 Bloomberg [SINGAPORE] Creative Technology Ltd, fighting a losing battle with Apple Computer Inc's iPod music players, may report a fourth-quarter loss after prices declined, contributing to the company's worst annual earnings in five years. The Singapore-based company may say its net loss
      Bloomberg  -  416 words
    • COMPANY BRIEFS
      • 59 5 INTEGRA2OOO Ltd's chairman and CEO Kwok Kah Kie a target of an ouster bid by a group of disgruntled shareholders —yesterday exercised 12.49 million bonus warrants, for the corresponding number of shares in the company. He now owns 20.6 million shares in integra2ooo, or 15.03 per
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      • 46 5 DRINKS maker Yeo Hiap Seng saw a net loss of $120,000 for the second quarter ended June 30. This compares with a net profit of $864,000 in the previous corresponding period. Revenues grew 2 per cent to $93.3 million.
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      • 33 5 ADVANCED Holdings said a substantial institutional shareholder, Lloyd George Investment Management (Bermuda), has reduced its deemed stake in the company from 9.14 per cent to 7.84 per cent
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      • 60 5 IPC Corporation saw revenues more than halve for the first half 0f2006 to $12.6 million, while net profits fell from $2.2 million to a net loss of $4,00 p. This was due to a 61.9 per cent drop in property revenues, and an
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      • 27 5 ELECTRONICS motor maker Lindeteves-Jacoberg saw Q2 net losses more than double to $55.1 million, as revenues dipped 2 per cent to $62.2 million.
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      • 37 5 I'M Technologies turned in IHO6 net profits of $1 million, compared to losses of $2 million for the same period last year. Revenues increased 4.1 per cent to $18 million.
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    • 204 5  -  By KALPANA RASHIWALA OVERSEAS Union Enterprise (DUE), now controlled by a Lippo-Ananda Krishnan consortium, has divested its entire 18.3 per cent stake in listed Hotel Negara bf accepting UOL Group's mandatory cash offer for the company. The offer closes at 3.30 pm on
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    • 373 5  -  By RUCHIKA TULSHYAN DESPITE, an 11 per cent rise in revenue to $45.53 million, Super Coffeemix Manufacturing suffered a 29 per cent year-on-year fall in net profit to $3.57 million for its second quarter ended June 30. Besides being hit by higher raw material
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  • Page 5 Advertisements
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    • 7 5 ChooM on* item from our satecttoMC M
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  • SINGAPORE MARKETS
    • 853 6  -  CURRENCIES Call to sell the greenback on rallies gets louder this week LARRY WEE Senior Correspondent ijn M E START this column H m where we left it a m V m week ago, by saying m M m that the
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    • 1021 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Aug 8 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ BuyI Shares Per More After Stock Pate Director Sell '000 Shr$ COOP) (000) Integra 2000 8-Aug-06 Kwok Kah Kie OE ***** 0.08 8128 5.93 ***** 15.03 Boustead S'pore 7-Aug-06 Wong
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    • 279 6  -  Compiled by MATTHEW PHAN China Milk August 8 dose: $1.02 DBS VtCKERS SECURFTIES, August 8 IQO7 results exceeded our expecta- tions. Net profit grew 58.1 per cent year-on-year to 88.6 million yuan ($17.5 million), underpinned by a strong revenue growth of 37.1 per cent year-on-year to 93.5 million yuan,
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    • 421 6  -  STOCKS TEH HOOI LING Senior Correspondent MARKET participants yesterday steered clear of any big bets that they might have, adopting a cautious stance ahead of Singapore's National Day holiday and the US Federal Open Market Committee meeting. However, there was selective buying of stocks,
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    • 218 6  -  CHART POINT By YEO KEE YAN, chartist at Kelive Research CORPORATE earnings took centre stage last week as the reporting season picked up pace. Reflecting the nervous mood and short-term trading stance of many investors, the market reaction was mainly confined to "buy in anticipation,
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  • SINGAPORE NEWS
    • 756 7  -  CELEBRATING NATIONAL DAY They will be awarded the Order of Nila Utama (First Class) By CHEW XIANG FINANCE Ministry permanent secretary Lim Siong Guan and A Star chairman Philip Yeo, two visionaries with illustrious track records, have bagged the nation's highest
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    • 78 7 JONATHAN Larsen, Citibank Singapore's chief executive (centre in white), and Anil Wadhwani. its head of retail banking (in pink), leading a team ofCitibankers to mark Singapore's 41st birthday. While Citibank has a 104-year history in Singapore, the consumer bank was locally incorporated just two years
      YEN MENG JIIN  -  78 words
    • 259 7  -  By WEE LI-EN UNITED Overseas Bank is marking National Day by introducing a multi-term fixed-deposit bundle with competitive interest rates. The bank is offering a special annual rate of 3.488 per cent to customers putting at least $25,000 in a three-month Singapore dollar
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    • 586 7  -  Move allows build-up of LNG demand By RONNIE LIM SINGAPORE intends to impose a moratorium or cap on pipeline gas imports and get its power stations to shift towards using liquefied natural gas (LNG) to assure base-load for the planned US$5OO million LNG receiving
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    • SINGAPORE ROUNDUP
      • 59 7 IN celebration of Singapore's 41st National Day and the country's ties with Ho Chi Minh City, Vietnam, Saigon Sports City has contributed US$l5,OOO towards the education of needy young people there. Saigon Sports City is Keppel Land's township project in Ho Chi Minh City, which
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      • 38 7 DLA Piper Rudnick Gray Cary has appointed former Motorola Singapore president Jeffery Tan (right) as a partner to manage and develop the legal firm's corporate and technology practice in South-east Asia.
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  • Page 7 Advertisements
    • 1925 7 POPULAR HOLDINGS LIMITED I jßjg (Incorporated in' the Singapore) I (Registration No. *****7187 M) I NOTICE OF ANNUAL GENERAL MEETING I NOTICE IS HEREBY GIVEN that the Annual General Maating of tha Company will ba held at fl 20 CHd Toh Tuck Road, Singapore *****5 on Friday 25 August 2006
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  • MALAYSIA/INDONESIA
    • 582 9  -  M'sian population not big enough for two train companies, he says By PAULINE NG in Kuala Lumpur FORMER Malaysian prime minister Mahathir Mohamad has poured cold water on the current administration's plan for a possible bullet train linking Kuala Lumpur to Singapore. He
      FILE PHOTO  -  582 words
    • 417 9 [JAKARTA] The Supreme Audit Agency (BPK) has urged the Finance Ministry to revoke the business licenses of a number of accounting and appraisal firms due to malpractice and misrepresentation, the Jakarta Post said yesterday. "We have reported these accounting and appraisal firms to
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    • 251 9 Bloomberg [JAKARTA] Indonesia will overtake Vietnam as the country with the most bird flu deaths among humans worldwide if tests show a 16-year-old boy was the country's 43rd fatality from the disease. The youth, who was positive for the HSNI avian influenza strain in
      Bloomberg  -  251 words
    • 501 9 He's unhappy with firm's plan to sell new shares: report [KUALA LUMPUR] Syed Mohd Yusof Syed Nasir, a substantial shareholder of Landmarks Bhd, is unhappy with the firm's plan to sell new shares, and is likely to announce his bid for the property
      BLOOMBERG  -  501 words
    • BRIEFLY ASIA
      • 36 9 Bernama [KUALA LUMPUR] The Asean-India Free Trade Agreement (FTA) is still on as the leaders of the respective countries have committed to the negotiations, Asean secretary-general Ong Keng Yong, said yesterday.
        Bernama  -  36 words
      • 76 9 Reuters [BEIJING] The Ministry of Commerce has published draft rules that would allow foreign firms to invest in China via share swaps but would tighten acquisition criteria to protect China's economic security. For the first time, the new rules would require a Chinese company that has
        Reuters  -  76 words
      • 33 9 Reuters [NEW DELHI] India has no immediate plans to raise foreign investment limit in insurance, telecommunication and civil aviation, a junior finance minister said yesterday. —Reuters
        Reuters  -  33 words
      • 39 9 Reuters [KOLKATA] India's Tata Tea Ltd expects its consolidated annual turnover to rise to 70 billion rupees (552.4 billion) in three years from 31 billion rupees in the fiscal year ended March 2006.
        Reuters  -  39 words
      • 36 9 Reuters [SHANGHAI] A senior executive at Shanghai Electric Group Co Ltd is under criminal investigation after reports of alleged abuse of government funds prompted a suspension of the firm's shares.
        Reuters  -  36 words
    • 2134 9 VOl General C«p .O.St -0.01 105 *>• rm Gentmg 2440 030 630 Geora»Kant 0.47 -0.02 36 AIM Realty 1.45 unch 3 G HI Systems 031 unch 772 033 imh 3 Gtobetroma Tech 0.30 unch 223 ACPIncfcatnes 045 -0.02 115 Gtomaclhd 1 If 0.01 67 A*ance Synergy 030 -0.01
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  • GREATER CHINA/INDIA
    • 535 10 Analysts say group could spin off about a third of its hotel assets into the Reit Reuters [SINGAPORE] Hong Kong developer Cheung Kong (Holdings) may list a property trust in the territory for some of its HK$lB billion (553.6 billion) in
      Reuters  -  535 words
    • 212 10 Reuters [HONG KONG] Far East Consortium International Ltd said yesterday that it was "exploring the possibility" of selling some of its hotel properties to a unit trust, but had made no application for a listing. Far East Consortium made the announcement after a Hong
      Reuters  -  212 words
    • 310 10 Bloomberg [NEW DELHI] India's life insurance industry is expected to maintain 20 per cent growth a year, driven by an expanding middle class and rising incomes, said Standard Poor's. "Improving economic conditions, growing affluence, the need for health protection and low penetration
      Bloomberg  -  310 words
    • 488 10 While government upgrades airports, quality hotels in cities trail demand Bloomberg [NEW DELHI] India is trying to create land banks that can be used to build more hotels to meet traveller demand and raise its share in global tourism. India has
      Bloomberg  -  488 words
    • Article, Illustration
      34 10 AP PREGNANT mothers showing cartoon figures on their bellies during a contest of coloured drawings for expectant mothers at a hospital in Haikou. capital of south China's Hainan province, yesterday. —AP XINHUA/AP
      AP; XINHUA/AP  -  34 words
    • 647 10 NEWS ANALYSIS Reuters [HONG KONG] A surge in domestic Chinese stock listings threatens to steal fees from global investment banks still locked out from mainland initial public offerings (IPOs). JPMorgan predicts Ashare listings will raise about US$lO billion this year, which at underwriting fees
      Reuters; REUTERS  -  647 words
    • 345 10 Bloomberg [NEW DELHI] Starbucks Corp, the world's biggest coffeeshop chain, says it is looking for a venture partner or a licensee to enter India by the end of next year as coffee consumption rises in the nation of more than a billion
      Bloomberg  -  345 words
  • Page 10 Advertisements

  • ASIA-PACIFIC/WORLD
    • 834 11 16 anomalies in 12 locations after inspection of 40% of pipeline system Washington Post [WASHINGTON] After noticing an oil spill on a deserted stretch of frozen road in Alaska's North Slope in early March, workers needed three days to find the quarter-inch wide hole in
      Washington Post; AP  -  834 words
    • 573 11 Cox News Service [SAN FRANCISCO] Apple Computer ratcheted up its renewed rivalry with Microsoft Corp and PC makers on Monday, announcing two new computers that complete its transition to industry-standard Intel Corp chips and showing off slick new features of its next
      Cox News Service  -  573 words
    • 347 11  -  By ANTHONY ROWLEY in Tokyo IN one of the strongest indicators so far that Japan's economic recovery is likely to strengthen, the Bank of Japan (BOJ) revealed yesterday that bank lending in July rose at its fastest annual rate in five years. A surge in
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    • WORLD WATCH
      • 86 11 Reuters [WASHINGTON] The US Securities and Exchange Commission (SEC) on Monday decided appealing a court decision nullifying a rule that requires advisers of most US hedge funds to register with it, and said it plans to move quickly on other options to regulate the
        Reuters  -  86 words
      • 96 11 AP [WASHINGTON] Media personality Martha Stewart will pay about U*****,000 and cannot serve as the director of a public company for five years under a settlement announced on Monday on civil insider trading charges with the Securities and Exchange Commission. Under the settlement, she agreed
        AP  -  96 words
      • 57 11 LAT-WP [LOS ANGELES] Starbucks, which has already entered the entertainmentmarketing world with the sale of special-edition CDs. is now getting into book sales. In its first such > in-store campaign, slated to begin on Oct 3, the company plans to sell copies of Mitch Albom's
        LAT-WP  -  57 words
      • 65 11 ATT [NEW YORK] AOL removed a list of the Web search inquiries 0f658,000 unnamed users from a public website over the weekend, after bloggers complained that the h information was so detailed and personal that it could compromise the users' privacy. AOL said the
        ATT  -  65 words
    • 300 11 LATEST US DATA Bloomberg [WASHINGTON! American workers' productivity growth slowed and labour costs rose at the fastest pace since the end of 2004, suggesting rising wages may exacerbate a pickup in inflation. Productivity, a measure of how much an employee produces for
      Bloomberg  -  300 words
    • 469 11 LAT-WP [SAN FRANCISCO] Two of the biggest names on the Internet struck a nearly billion-dollar deal on Monday to combine Google's search and advertising technology with the massive online audience of News Corp's MySpace. The agreement, worth at least US$9OO million to
      LAT-WP  -  469 words
  • Page 11 Advertisements

  • AVIATION
    • 751 12 Airline pledges to buy back shares at prices above IPO if necessary Reuters [SHANGHAI] Air China yesterday slashed the size of its initial public offer in Shanghai by nearly 40 per cent because of poor demand a bad omen for a host
      Reuters; REUTHRS  -  751 words
    • 453 12 Bloomberg [SEOULJ Asiana Airlines Ltd, South Korea's secondlargest carrier, posted a second-quarter profit compared with a loss a year earlier, helped by a stronger won and more passengers. The shares fell on concerns the currency will Aveaken. Net income in the
      Bloomberg  -  453 words
    • LOG BOOK
      • 81 12 Reuters [SYDNEY] Qantas Airways Ltd. Australia's biggest airline, said yesterday its top two executives had extended their contracts amid tough operating conditions caused by high fuel prices and more competition. Chief executive Geoff Dixon and chief financial officer Peter Gregg had both agreed to remain
        Reuters  -  81 words
      • 77 12 Reuters [HELSINKI] Finnish airline Finnair reported a fall in second-quarter profits yesterday, burdened by high fuel costs, and said it also expects a drop in profits for the full year. Finnair said it had hedged 60 per cent of fts fuel consumption for
        Reuters  -  77 words
      • 77 12 AP [FRANKFURT] Fraport AG, which operates airports in Europe and South America, said yesterday that increased flights in the second quarter helped offset weather-delays in the first quarter as it posted a 34-per cent gain in net profit in the first six
        AP  -  77 words
      • 47 12 AFP [DHAKA] Thailand's national carrier Thai Airways will manage Bangladesh's second international airport in Chittagong from Sept 1, Thai Foreign Minister Kantathi Suphamongkhon said on Sunday. He was speaking to reporters after talks with Bangladeshi Foreign Minister M Morshed Khan. —AFP
        AFP  -  47 words
    • 576 12 Thousands stranded; flights across US delayed AP [LOS ANGELES] A navigational system for one run r way failed at Los Angeles International Airport (LAX) on Monday, stranding thousands of passengers and delaying hundreds of flights across the US. Airport officials had to delay many
      AP; REUTERS  -  576 words
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  • Page 12 Miscellaneous
    • 157 12 CRYPTIC CROSSWORD —t Everyone's pa--26 Lie about Conservative lead--1 Error from clubs by top golfer 13 stu ffj n g (j$ w j t h hot reply, Across: 1 Streak, 4 Assassin, 9 As- Dossiblv (10) cend, 10 Axle-tree, 12 Bevy, 13 At no<^p*am?ninff^ 0n 16 Shaky United Nations' record
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  • Page 13 Advertisements
    • 853 13 .dfißaUßtoi -^-ft fl^^. IL^fl ivvUHSHKK? ■Ii^HSI DIV Recharging B 11»B sin 9 a P° re I > SI&J ■■II |B|H SINGAPORE is sometimes described as mains relevant as an air hub. Changi nual meetings of the Boards of Cover- fl B# Sal f^^^y^ v a reluctant nation, thrust into nation-
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  • RECHARGING SINGAPORE
    • 1188 14  -  In just four decades, Singapore has established a thriving financial centre of international repute, WONG WEI KONG charts its development WONG WEI KONG EARLIER this year, Singapore beat the rest of the world to take top honours as the No 1 "financial centre of *lhe
      BLOOMBERG FILE PHOTO  -  1,188 words
    • 1198 18  -  It has been a phenomenal 25-year success story for Singapore's airport. But will the accolades keep coming? VEN SREENIVASAN checks out the competition VEN SREENIVASAN >Cr lAS been exactly 25 years since a military at the eastern tip of Singapore was rebuilt into one of Asia's busiest air
      FILE PHOTOS  -  1,198 words
    • 1435 18  -  By CHUANG PECK MING THE key to rebranding Singapore as a vibrant and competitive city lies with its people specifically its workers. The success or failure of the efforts to reinvent Singapore rests on many factors. Trade and Industry Minister Lim Hng Kiang, who
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    • 1207 20  -  JEAM CHUA looks at what's being done to market the island as a thriving convention centre and a truly unique tourist destination JEAN CHUA WHAT a year it has been. Over the past 12 months, Singaporeans were told they will be getting not one but
      AP  -  1,207 words
    • 1288 20  -  By MELISSA LWEE FROM a near cultural backwater more than 20 years ago when the arts scene in Singapore was dominated mainly by amateur theatre groups fuelled by their passion rather than any thoughts of earning a living, Singapore is now seen as a
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  • Page 14 Advertisements

  • TRAILBLAZERS
    • 1354 15  -  SUKI LOR profiles the patriarchs of Singapore's banking industry SUKI LOR RAFFLES Place may be the glistening steel and glass facade of Singapore's financial sector, but behind it are the handful of exceptional men whose entrepreneurial flair turned them into tycoons even as they became catalysts for the
      FILE PHOTOS  -  1,354 words
  • Page 15 Advertisements
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      196 words
    • 19 15 Stay ahead with business leadens. A series brought to you; by the new S-Class. i Mercedes-Benz v 1 ■!*'4-
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  • Page 16/17 Advertisements
    • 123 16/17 It's Your World m Free your lifestyle. Experience the joy of video-on-demand entertainment through World broadband channels, 3G devices and now TV. Check it OUt on www.m2bwolid.com tirst Broadband TV brings entertainment on-demand into your J 1 O 40 on-demand channels ■Pi Chat with friends Justconnacito POOV Mf 1 OSendvkkomatts
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  • FACES GOING PLACES
    • 1262 19  -  KAR-MEN CHENG meets five Singaporeans in the retail and property sector who are on a career high KAR-MEN CHENG NICHOLAS WONG 33 Fashion designer THE off-beat hairdo and chic black blazer over a funky tee-shirt with matching sneakers belie a shy and soft-spoken man. Even
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  • Page 19 Advertisements
    • 60 19 LET YOUR DREAMS TAKE FLIGHT In 1976, three brothers had a vision to take their sofa-manufacturing venture to the world. 30 years later, HTL is one of the world's leading leather sofa manufacturers and tanners, recognised by Forbes magazine RZ777 HTL as one of the "Best under a Billion Company"
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    • 28 19 This is the first of a six-part series jointly brought to you by The Business Times and HTL International, as part of the two companies' 30th anniversary commemoration.
      28 words


  • AVIATION/SHIPPING
    • 617 21 He gives new Indian carrier 18 months to two years to make a profit AFP [NEW DELHI] Bruce Ashby is an optimist, he has to be. The 45-year-old American has just launched a low-cost airline in India where most rivals are losing money, hit
      AFP; REUTERS  -  617 words
    • 557 21  -  Move recognises efforts by littoral states to rid Malacca Strait of piracy By GEORGE JOSEPH THE lifting of "war risk" premiums on insurance policies taken out by shipowners for vessels passing through the Strait of Malacca must come as most welcome news for
      557 words
    • 234 21 Bloomberg [BANGKOK] Precious Shipping pel, Thailand's biggest sea-transportation company by market value, said profit fell 51 per cent in the second quarter as freight revenue declined and it paid more for marine fuel. Nft income fell to 768.6 millirffb baht
      Bloomberg  -  234 words
    • 66 21 [KEY WEST. Florida] A pleasure boat heading into the harbour past a cruise ship docked here on Monday. Depending on what happens in the months following Cuban President Fidel Castro's death, this city could see a mass exodus of Cuban refugees making the 145 km ocean crossing.
      AP  -  66 words
    • 280 21 Reuters [LONDON] Strong global economic growth, rising steel prices and no let-up in buying from China pushed raw materials sea-freight prices to 14-month highs on Monday, defying analysts' predictions of a downturn. "Economic growth generally has been stronger than widely anticipated at the start of
      Reuters  -  280 words
    • PORT SHOTS
      • 46 21 Bloomberg [NEW YORK] Overseas Shipholding Group, the largest US-based oil tanker owner, said second-quarter net income fell to US$6O.2 million from U*****.2 million a year earlier. Per-share net income fell to US$l.52 from US$2.B9 in the second quarter of 2005.
        Bloomberg  -  46 words
      • 71 21 Anderimar Shipping News [LONDON] The Canadian government is enhancing its marine pollution prevention programme by using dedicated flights over Canada's Arctic waters under Transport Canada's National Aerial Surveillance Programme to help protect those waters. These flights started on Aug 1 and will continue till Aug 17.
        Anderimar Shipping News  -  71 words
      • 80 21 Anderimar Shipping News [LONDON] Norwegian based shipping futures market International Maritime Exchange (Imarex) saw high volumes of trading in July. Managing director Tom Even Mortensen said: "Imarex performed exceptionally well in July." It reported US$556 million of transactions in July, up 136 per cent
        Anderimar Shipping News  -  80 words
    • 272 21 S6x Aug! St Vol CHOHshor* .0.35 001 29 ChuanHup .0.32 -0.01 876 Casco Corporation 1.47 -0.02 4255 CWT Distribution .0.61 -0.01 14 EzraHldgi .2.52 0.02 1» Freight links 0.06 -0.01 269 Grand Banks Yadtt 0.92 unch 0 Java Holdings 1.36 unch 824 K1 Venture J03S -0.01 13S0 KeppelCorp
      272 words
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    • 39 21 This week's Strait Talk column will be carried tomorrow I Get a Leading Edge M t Your sailing schedules get wider attention in The Business Times shipping pages Call Bernard Ong at 6319-1645 or Michael Chng at 6319-2062 jUSHfIHHHHHIHHUHHHI
      39 words

  • EDITORIAL & OPINION
    • 556 22 EDITORIAL OF late, the "R" word has been featuring with increasing frequency in discussions among observers of the US economy. While few are brave enough to suggest that a recession is nigh, there is a growing chorus to the effect that its probability
      556 words
    • 938 22  -  Brands' rising power has implications for public health, globalisation and the environment By SEBASTIAN MALLABY LAT-WP Motorola used to be a manufacturer of cellphones. Then it came up with its ultra-slim Razr handset and became a lifestyle company as well. Apple
      LAT-WP; AP  -  938 words
    • 763 22  -  THE BOTTOM LINE FRANK CHING CHINA, which used to be thought of as no more than a regional power—albeit an important one. in particular where the North Korean nuclear issue was concerned is increasingly being treated as a world power whose
      763 words
    • 1259 23  -  HK is the first choice for China firms listing overseas, followed by London, Tokyo and S'pore By TIGER TONG CAPITAL markets overseas have attracted an increasing number of Chinese firms. And Chinese stocks have become hot all over the world. In June 2006, the
      AFP; Source:  -  1,259 words
    • 405 23  -  LETTERS TO THE EDITOR Leong Sze Hian Singapore I REFER to media reports on the proposal to lower the minimum income for unsecured credit lines to $20,000 a year and the article by Matthew Phan, "Number of new bankrupts in HI falls to 1,452f
      405 words
    • 134 23  -  Naoyoshi Ando Consortium Representative WE REFER to the article "Ebara raises a stink, files claim against Malaysian government" (BT, Aug 4). First, we take exception to the headline, which seems to pit Ebara Corporation against the Malaysian government as an antagonist. This depiction is not
      134 words
    • 846 23  -  By THOMAS FULLER IHT FAR from the brilliant green rice paddies that spread across the fertile flatlands in Thailand, economists in Europe have calculated that the country's farmers would be among the biggest winners if failed global trade talks were revived
      IHT  -  846 words


  • 10562 24 SGX MAINBOARD Transaction date: Aug 8 U-Mi T«l Lact Vol Day L*t Quota GrOtv Mv GrYW Nat MCap low Coda Coin—y Sala (HOP) M* Ua Buyar Ma Cm HI SJ 4 1 5716 1st Software 5c 2.5 unch 12 3 2 2.5 3 10i1 115 6 3148 8TelecomUS2c
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  • 6153 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local am In SS In USS dy yr dy yr dy Syr lnd«« Change Chanqa Change Change Change Change The World Index Preliminary 985.3 -0.8 1.6 -0.9 -0.4 -0.9 53 Preliminary 986.6 -13 1.4 -1.6 3.0 -1.6 8.9 Europe Preliminary 1328.8 -1.2
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    • 1757 26 UK CONTINENT SERVICE U.SJL SERVICE Destination Destination EVGENIA RDM/ATW/BMN/TIB/NAN SEAFRIEND CAM/NFK/SAV/NO. HANJIN PENANG LAX/VCW/MZL Loads Singapore, E./W. Malaysia, Indcrasio Load* E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE MMJL MRVKC Destination PAN BRIGHT DBI/ABU/DOH/BRN/DMM/KWT Destination VOYAGER V DBI/ABU/DOH/BRN/DMM/KWT STXPOTBN INC/BSN GLOBAL MOKPO DBI/ABU/DOH/BRN/DMM/KWT PAN DYNAMIC JDH/AQA Loods Singapore, E./W. Malaysia, Indonesia Loads E.
      1,757 words
    • 550 26 I HBGHTW WG KM IP I SM I «T I STMITS VENTURE 14/04 1S 3.2 04/01 M/OC 10/08 13/08 15/06 SIUnSVOTUKIS/tt IS 31 17/08 20/08 26/08 21/08 31/01 Ismrcvßmittit/M is 3J oi/w IfflftTftAHAH fMHKE WWWCI 1 VBSa/YOT OAMUKT) «QHtW| L 3 IS* MB STP MR ABf HE JKT ISM I
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    • 2186 27 WAN HAI MffiRNATIONAL PIE LTD a NO: mmshomo/R VTrA lIIAU a| a T1L*****588 (14UNB) FAX:*****163 YM4 i WAN HAI I INFs **,/****DM u» osoo)*****200 V TIV finil lini miMMinii—HULimMawwiifcuomswMfcumwwt V JOH W; (07) ?siwn fiut (07HSHW1 9MIH: (031) *****7S FAX: 4031) X2V2714/ *****0S WWW wtlhli (am <■ *T WL (021)
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    • 34 27 PLACE YOUR AD HERE The Business Times Shipping Times A i V \C H t F H Mf AT Q 5P A 1 > j-< K A K v)* Vj /a i Vo d uUU€
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    • 687 28 HB Nordana (Asia} Pie Lid SJSSSI' HUMM "f "I II W«y, *21-03 MariM Hww> 07* 111 NORTH WEST EXPRESS LINE MONTHLY SERVKE TO WESTERN AUSTRALIA AND ISLANDS MTESARE ARRIYAI DATS PL. g |*r w pff JsmLLuus mi I 22 Aw I ois«d ms* iis« msbland Express lE6OB 22 Sw X
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    • 400 28 CONVENTIONAL SERVIQ LOADING FOR LOADING FOR LOADING FOR COLOMBO-RORO COLOMBO MUMBAI 11 AUG 12 AUG 14 AUG LOADING FOR DUBAI/DAMMAM 24 AUGUST fiji I( sma 1*70) OWNS A OPERATES THE YOUNGEST FLEET I WITH FOURTEEN 7,000 DWT TWEEN DECKERS ICOVHMNO THE ENTIRE ASIA PACIFIC PORTS j uouuut wnar scrvkxs: b
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 7407 29 This ETA ETA AdvartlMr VmhI Voyag* Tttaphont ETA ETA AdvwtiMr Vtsd Voyag* Til«p<ion« SIN Dasfn Ham Nam Number Number SM Dafa Dm Dm Nmbar NMMr wmmmmmmmmmmmmmHmmmmmmmmmmmmmmmmmmmm WmmmmmmmmmmmmmmmmmmmmmmrnHmmmmmmmmmmm To ABIDJAN (ABJ) 2003 Cote D'lvoire To FEUXSTOWE (FXT) 2127 U. K. 16/06 16/09 China Shpg DAXIN
      7,407 words

  • MOTORING
    • 576 30  -  Korea's Hyundai drops to 4th place after first seven months of the year By SAMUEL EE JAPANESE makes have filled the top three sales spots in Singapore for the first time in four years. Korean carmaker Hyundai*, which has occupied the No 3 or
      576 words
    • 358 30  -  By SAMUEL EE VOLKSWAGEN is investing close to a quarter of a million dollars in Singapore's 41st birthday party the second year in a row that it is playing a key role. Tonight, a convoy of white Polo and red Touareg models will transport the
      358 words
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    • 145 30 DAVID AAKER ioh&b The world's most influential brand strategy guru FAITH POPCORN The world's no.l brand trend forecaster MARTIN LINDSTROM The world's leading youth and technology branding guru JACK TROUT IST The man who co-created brand positioning millenia Singapore I This November, the anticipated forum on Brands for mr PP9
      145 words

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    • 30 31 II You can now use your CPF savings to invest in AllianzGI Global Allianz (jfi) I Hiqh Payout Fund. Visit our appointed distributors for more details, ciobai investors I I
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  • executive Money
    • 898 32  -  Charges embedded in structured deposits can be as much as 4% according to a JP Morgan report, says GENEVIEVE CUA GENEVIEVE CUA YOU have bought a structured deposit and were told that you would not be charged any fees. Can there really be no charges?
      898 words
    • 654 32  -  CHET CURRIER THE modern history of technology stocks is a simple tale to tell. When they were good in the *****, they were very, very good. Once they went bad in the early 2000s, they turned relentlessly bad. This riches-to-rags transformation is plain to
      654 words
    • 292 32 EQlOTmarfaets in the dweloped world rose sightly in July although the post-May 5 downturn continued to produce higher-than-normal volatility The worsening situation In the Middle East also contributed to the erratic trading pattern diking the past month. According to Standard
      By Chua Boon Lee, Standard & Poor's Associate Fund Services  -  292 words
    • 852 32  -  <tax alert> By B JOOI BOTH in the US and in Singapore, owning a home is a dream for many, and borrowing to pay for one is the norm. Judging by population information from the Department of Statistics, many people in
      852 words
    • 1141 31  -  MONEY MATTERS After the Great Arabian Bubble, there are reasons to believe that Dubai Financial Market could now be a buying opportunity MICHAEL PREISS STOCK markets tend to go up and down. The financial services industry also warns: Past performance is not necessarily
      REUTERS  -  1,141 words
    • 5742 31 AB Amer Income A EUR 6.6*1 AB Amer Income B EUR 6.64/ ABEurop Income OppATSGD 15.0V ABN Amro Asset Mgt (S port) AB Euro? Income Opp BT SGD 15.05/ Star El/ope Eqty! 0.93® AS Europ Income Opp AT EUR I 7.46/ Star Eimpe Bond 11* AB
      5,742 words
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