The Business Times, 16 August 2006
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2006-08-16
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The Business Times
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Title Section18 2006-08-16 1 THE BUSINESS TIMES th Singapore 85 cents online at http://business-times.asia 1 .com.sg MICA (P) 099/03/2006 Wednesday, August 16,200618 words
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Article, Illustration874 2006-08-16 1 WEE LI-EN - Surge in corporate law business and small NUS law intake cited for scramble By WEE LI-EN [SINGAPORE] Young lawyers are being called as never before to the business of corporate law, Singapore's legal firms are reporting. The firms say that rising demand for banking, corporate,874 words
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429 2006-08-16 1 RONNIE LIM - Power industry feedback to be invited in October By RONNIE LIM [SINGAPORE] The power industry may soon add to Singapore's vibrant derivatives sector the Energy Market Authority (EMA) is looking into the possibility of starting a market for electricity futures. In a429 words
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Article131 2006-08-16 1 STI 2,440.62 (-9.88) ST INDEX FUTURES 2.433.00 (-11.00) SIMSCI 290.20 (-1.38) SIMSO FUTURES 289.80 (-1.30) MARKETS Tuesday Change KISECOMP 943.94 -2.06 NIKKEI 225 15,816.19 -40.92 HANG SENG 17.274.07 -15.94 SET INDEX 707.68 -0.74 JAKARTA COMP 1.424.24 >9.02 MANILA COMP 2,329.42 +1.92 SEOUL COMP Closed SHENZHEN B 286.43 +4.07131 words
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Page 1 Advertisements
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Advertisement12 2006-08-16 1 fT M PROFILE 'V John Gokongwei retires; donates to the poor pagei912 words
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Advertisement24 2006-08-16 1 C 9 NEW CEO India-born Indra Nooyi named PROPERTY Another Ardmore condo up for en bloc at $220.9 m page 10 8 *****1 *****424 words
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Advertisement10 2006-08-16 1 motor|ng New Cqimry takes off: with 800 bookings :p IiHI10 words
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TOP STORIES
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571 2006-08-16 2 GENEVIEVE CUA - MOH issues 3 indicators for Medisave-approved plans By GENEVIEVE CUA [SINGAPORE] The Ministry of Health (MOH) has published three "service indicators" for Medisaveapproved medical insurance or Shield plans a move that is set to raise the bar in terms of service and, eventually,571 words
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813 2006-08-16 2 NANDE KHIN - Firms say MVCs may not suit all types of businesses By NANDE KHIN [SINGAPORE] The Ministry of Manpower (MOM) yesterday started distributing a guide to small- and medi-um-sized enterprises (SMEs) to help them bring in a monthly variable component (MVC) into813 words
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397 2006-08-16 2 PAULINE NG - By PAULINE NG in Johor Baru MALAYSIA, already one of the world's biggest palm oil producers at a time of growing demand for alternative fuels, is setting up a 485 hectare biofuel park and a dedicated port on the eastern tip397 words
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Article47 2006-08-16 2 IN the report "Mediaßing's Koh Boon Hwee to meet PacNet directors this week" (BT, Aug 15) we said that Vantage owns just under 29 per cent of Mediaßing. Vantage actually owns just under 29 per cent of PacNet, not Mediaßing. We are sorry for the error.47 words
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Article486 2006-08-16 2 Law Society unveils moves to better protect clients' funds THE Law Society of Singapore has unveiled recommendations aimed at preventing rogue lawyers running away with clients' money, after David Rasif vanished with about $11 million belonging to an American couple. The key recommendation is that at small firms,486 words
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Article, Illustration498 2006-08-16 3 ROLAND LIM - They can create infrastructure, ensure IT training By ROLAND LIM [SINGAPORE] Commercial forces may be able to drive IT progress, but governments too have a role as catalyst in the sector, the founder and chairman of the world's biggest computer maker saidREUTERS - 498 words
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Article, Illustration729 2006-08-16 3 MICHELLE QUAH - Solicitor/advocate proposed as second signatory for bigger deals at all firms By MICHELLE QUAH [SINGAPORE] The Law Society of Singapore has unveiled recommendations aimed at preventing rogue lawyers running away with clients' money, after David Rasif vanished with about $11 million729 words
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Advertisement491 2006-08-16 2 Seminar on !j Financial Reporting Standards Date A comprehensive and practical overview This seminar aims to provide you with a good understanding of the current accounting standards in August 24, Thursday Singapore. The series of new or revised accounting standards in the recent years have resulted in our current accounting491 words
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Advertisement13 2006-08-16 2 people HR's secret weapon. vjwvj !hepeop eatv.o r k com Asia-Pacfic Executive Search13 words
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Advertisement139 2006-08-16 3 B-- I ■ftYn'i J Space. Made exciting by performance. The new R-Class is here. ►In the R-Class, space comes with performance like smoother gear shifts and seamless acceleration. While litres along with a Rear Entertainment System comprising A^\ never before. The thrilling V 6 engine in the R350 generates 4MATIC139 words
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COMPANY NEWS
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Article, Illustration741 2006-08-16 4 SIOW LI SEN - It breaches GO trigger point after raising stake to 36.7% By SIOW LI SEN HONG Leong Asia has raised its stake in Thakral Corp to 36.7 per cent, triggering a mandatory offer for the mainboard-listed company that was founded by theFILE PHOTO - 741 words
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487 2006-08-16 4 KALPANA RASHIWALA - Payout of $1.24 a share from Robinson Co By KALPANA RASHIWALA RETAILER Robinson Co, which announced its fullyear results yesterday, has proposed additional divir dend payments totalling $1.24 a share or $106.56 million, bringing total dividend payout for the year ended June 30 to $1.40 a share or $120.3 million.487 words
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221 2006-08-16 4 SINGAPORE Airlines (SIA) filled more seats in July as passenger numbers remained strong. The passenger load factor was 81.2 per cent the highest in recent memory as SIA enjoyed 5.5 per cent year-on-year growth in system-wide passenger carriage. This growth in RPK221 words
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664 2006-08-16 4 R SIVANITHY - Federal and UE —laggards that merit a second look HOCK LOCK SIEW By R SIVANITHY EVER since the end of the General Election in early May and the advent of US inflation-cum-interest rate worries shortly thereafter, interest in local stocks has become highly selective. Instead of the market-wide push experienced664 words
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489 2006-08-16 6 LESLIE YEE - It seeks funds to help finance purchase of interest in Raffles City By LESLIE YEE CAPIJACOMMERCIAL Trust (CCT) will raise up to $803.2 million by issuing 478.6 million to 499.5 million new units, to help finance its acquisition of489 words
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Article, Illustration493 2006-08-16 6 Reuters SINGAPORE-BASED chip equipment maker Asti Holdings Ltd expects to increase sales by an average of 15 per cent annually over the next two years to hit the Ssl billion mark, thanks to its recent acquisitions. Asti, which is worth about US$77Reuters; FH£ PHOTO - 493 words
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585 2006-08-16 6 Lower earnings on vessel oversupply and high oil prices Bloom berg SHARES of Neptune Orient Lines Ltd (NOL), Asia's fourth-biggest- container shipping company, fell the most in almost three years after becoming the latest in the industry to post aBloom berg - 585 words
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715 2006-08-16 6 OUR CORRESPONDENT - By OUR CORRESPONDENT in Bangkok ADVANCED Info Service Pic, Thailand's largest mobile phone operator, yesterday reported a decline in its earnings during the second quarter amid intense competition in the mobile phone industry. Advanced Info, which is 42.81 per715 words
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475 2006-08-16 7 RONNIE LIM - It buys stake in Cambodian oil concession for U$55.76 million By RONNIE LIM MAINBOARD-listed China Petrotech Holdings has become a true oil play after recently buying a half stake in a Cambodian offshore oil concession for U555.76 million. This direct exposure to oil475 words
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140 2006-08-16 7 Bloomberg PACIFIC Century Regional Developments Ltd (PCRD), which owns about a fifth of PCCW Ltd, posted a secondquarter loss on higher interest costs. The net loss was $3.8 million, or 0.12 cents a share, compared with a profit of $8.9 million, orBloomberg - 140 words
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Article, Illustration245 2006-08-16 7 RECENTLY listed Yanlord Land Group, a China property developer, yesterday announced its maiden financial results, reporting a first-half net profit of $84.2 million. The profit attributable to shareholders for the six months ended June 30, 2006, was a 13-fold jump from the $6.3245 words
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COMPANY BRIEFS
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54 2006-08-16 7 FURNITURE group Lorenzo International saw a 28 per cent dip in earnings, to $1.33 million for the six months to June 30,2006 despite increased revenues. Lorenzo said its net profit fell because of its investment in additional retail showrooms, the refurbishment of existing showrooms54 words
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46 2006-08-16 7 ASIA Environment Holdings reported an 88 per cent leap in net profit attributable to shareholders to 22.04 million yuan (554.4 million) in the half-year to June 30, 2006 as its revenues jumped 81 per cent to 141.3 million yuan.46 words
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Article60 2006-08-16 7 ASIAPHARM Group's net profit after tax grew 2.8 per cent to 41.1 million yuan (SsB.l million) in the first half of 2006. The group said the sale of in-house drugs drove its profit-margin growth, and that a steady pipeline of new products and the60 words
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66 2006-08-16 7 PENGUIN Boat International will issue up to $30 million worth of convertible bonds to DB Zwirn Mauritius Trading Limited, wholly owned by a US-based fund. The bonds, which will be issued in 30 tranches of $1 million each, can be converted into new66 words
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38 2006-08-16 7 WATER-TREATMENT specialist Hyflux has appointed Gopinath Rajnish, 44, as an executive director and a member of its risk,management committee. Mr Rajnish was an "investor before 2006" and "CEO, India, of Hyflux since 2006".38 words
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Advertisement1347 2006-08-16 4 mmmmm————■gggggggEggIBSSSBBSSBHBBBBBSSBBSBBEBB» —^—t f Indian Overseas Bank (Incorporated in India) Central Office: 763, Anna Salal, Chennal 600 002 issued by the Institute of Chartered Accountants of India. LIABILITIES owj. .«< one il) Note No 3 to Notes on Accounts (Schedule- 18) Schedules As at 31.3.06 As at 31.3.05 regarding recoverabiiity of1,347 words
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Advertisement3091 2006-08-16 5 -1 3. CASH FLOW STATEMENT FORTHE YEAR ENDED 30 JUNE 2006 7. CHANGES IN ACCOUNTING POLICIES GROUP The Group has adopted the same accounting policies and methods of computation in the financial statements for the current financial period compared to the audited financial statements as at 30 i mtns to3,091 words
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Advertisement127 2006-08-16 6 The Institute of Certified Public University graduates with a Accountants of Singapore recognised accountancy S n 9 a P ore s ar 9 es t degree or equivalent should assessment of eligibility to B MBB mm ,z i i apply for the ICPAS 9r *£a If you want to have127 words
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Advertisement142 2006-08-16 6 NOTICE OF CREDITORS' MEETING LEUN WAH ELECTRIC COMPANY (PRIVATE) LTD (IN COMPULSORY LIQUIDATION) Company Registration No:*****0681M Winding Up No. 244 OF 2003/Q Taka notice that a meeting of creditors in the above matter will be held at 6 Shenton Way, #32-00. DBS Building Tower Two, Singapore *****9 on the 23rd142 words
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Advertisement107 2006-08-16 6 PAN-ISLAND EXPRESSWAY (PIE) FLAMINGO VA L L E Y a. Large freehold site in district 15 upper changi rd Land: 335,161 sq ft q g FiDELto st Plot ratio 1.4, up to 5-storeys < ■■site Close to amenities, good schools Cm* Os; s; upper east coast rd and major transport107 words
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Advertisement232 2006-08-16 7 Over 500 Locations Worldwide [MAsk ns about Corporate, Individual or Group Instruction. I Bcali Berlitz today 6733-7472 or visit vmw.beiiitz.com.sg I GREAT EASTERN HOLDINGS LIMITED LOST SHARE CERTIFICATES To whom It may concern: The following share certificates of Great Eastern Holdings Limited (the "Company") have been reported lost, mislaid or232 words
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Advertisement525 2006-08-16 7 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 aims525 words
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SINGAPORE MARKETS
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Article, Illustration888 2006-08-16 8 LARRY WEE - CURRENCIES even as untidy range trading threatens at the peak of summer holidays LARRY WEE Senior Correspondent STRONGER US numbers this week could well make US dollar bears squirm a bit more over the coming sessions amidst thinner, more volatile, holiday888 words
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Article, Illustration987 2006-08-16 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Aug 15 and earlier) Subsantiat Mo Of Prk* SHAREHOLDING Trans Shareholder/ Mv/ Shares Nf Before After Stock Oaf Director Sal '000 Shr$ COOP) fOOO) CWT 15-Aug-06 LoiPakYen *Buy 20 0.63 7520 2.51 7540 2.51 Asia Pac Brew 15-Aug-06 Fraser Neave Ltd987 words
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Article281 2006-08-16 8 MATTHEW PHAN - Compiled by MATTHEW PHAN Neptune Orient lines Aug 15 dose: SSI M CITIGROUP RESEARCH. Aug 14 AFTER an in-line IQO6, 2Q06 US$67 million was worse than the US$B7 million polled by Bloomberg. Logistics was worse than expected at US$lO million Ebit against our US$l7 million expected. Container Ebit281 words
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Article, Illustration416 2006-08-16 8 R SIVANITHY - STOCKS R SIVANITHY Senior Correspondent BY NOW, it has become clear to most observers that in a nervous and increasingly discerning market, companies that deliver in terms of earnings surprises will be well rewarded but those that disappoint can expect to see their stocks whacked.416 words
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Article, Illustration234 2006-08-16 8 YEO KEE YAN - CHART POINT By YEO KEE YAN, chartist at Kelive Research THIS past week saw the benchmark Straits Times Index (STI) meandering against a backdrop of an uncertain interest rate environment and a likely slowdown in the US economy in 2H06. The ceasefire inSource: KE - 234 words
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SINGAPORE NEWS
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Article, Illustration406 2006-08-16 9 CHEN HUIFEN - Dutch bank sets up regional team in Singapore to tap opportunities By CHEN HUIFEN THE burgeoning life sciences sector in Asia spells great potential for the banking sector, according to Netherlands' Rabobank, which has recently set up a regional team in life sciences406 words
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193 2006-08-16 9 HAND luggage is allowed on all flights departing from Changi airport, including those to UK and US, the airport authorities said yesterday. But you should check in three hours before your flight departs and you cannot carry liquids, gels and aerosols on an aircraft193 words
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Article, Illustration238 2006-08-16 9 CHEW XIANG - By CHEW XIANG THE highly competitive spa industry is heating up after NTUC Club opened its first 3,000 sq ft spa at Aranda Country Club at Downtown East yesterday. NTUC said the spa will test the waters ahead of a projected 12,000238 words
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Article151 2006-08-16 9 Bloomberg SINGAPORE'S retail sales increased in June for the 16th straight month as a strengthening labour market and rising tourist arrivals spurred consumer, spending. The retail sales index rose 5.1 per cent from a year earlier after gaining 13.1 per cent in May, theBloomberg - 151 words
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403 2006-08-16 9 MICHELLE QUAH - By MICHELLE QUAH THE former president of a shipping company has been charged in court with receiving bribes totalling almost half a million dollars. Ng Sing Yuen, 59, the former president of Parakou Shipping Pte Ltd, was charged in the Subordinate Courts yesterday on403 words
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Article, Illustration559 2006-08-16 10 KALPANA RASHIWALA - Buyer likely to be the same party as that for Ardmore Point next door By KALPANA RASHIWALA ARDMORE Point, offered for sale through a tender that closed last week, is yet to be awarded but the owners of Pin Tjoe559 words
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323 2006-08-16 10 ARTHUR SIM - Reports by ARTHUR SIM CAPITALAND is targeting the higher end of the prime residential property market by pricing its latest offering, Scotts High Park, at an average of $1,800 psf. Already, it says that one unit was sold for more than $2,000 psf.323 words
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254 2006-08-16 10 THE Urban Redevelopment Authority has added a hotel site to the reserve list for the current second half-year. The 0.29 ha site in Mohamed Sultan Road has a plot ratio of 2.8 and can be built up to 10 storeys with a maximum254 words
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Article5315 2006-08-16 10 UNIT TRUSTS FUNDS ABAmer Income A EUR 6.68/ AS Amer Income B EUR 6.68/ AS Europ Income Opp AT SGO 14.98/ A,n,0 r <s P 0 AB Europ Income Opp BT SGO 14.98/ 5* I 1 If*! AB Europ Income Opp AT EUR 7.44/ Star Europe Bond 1.177/ A8 Europ5,315 words
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ECONOMY WATCH
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Article, Illustration766 2006-08-16 11 He urges neighbouring Pakistan to clamp down on extremists Bloomberg [NEW DELHI] Indian Prime Minister Manmohan Singh said terrorism threatens economic prosperity in South Asia and urged neighbouring Pakistan to clamp down on extremists. "Pakistan must take concrete steps toBloomberg; AP - 766 words
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Article, Illustration480 2006-08-16 11 Reuters [BEIJING] China's economy is likely to slow slightly over the rest of the year and Beijing will probably wait to see the impact of current tightening steps before deciding if more are needed, the World Bank said yesterday. In its latest quarterly report,Reuters; REUTERS - 480 words
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268 2006-08-16 11 AFP [BANDAR SERIBEGAWAN] Oil and gas-rich Brunei's economy grew at an average annual growth of 2 per cent from 2000 to 2005, with per capita income rising to 8542,900 (5542,900), the government said yesterday. The department of economic planning and development revealed it has revisedAFP - 268 words
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465 2006-08-16 11 NYT [PARIS] With France and Germany leading the way, the economy in the eurozone grew at its fastest quarterly rate since 2000, a development that is expected to fortify the resolve of the European Central Bank (ECB) to raise interest rates again this year.NYT - 465 words
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Page 11 Advertisements
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Advertisement327 2006-08-16 11 WKEwSfM 4% pffil w Jk. isl 2006 ANNUAL MEETINGS OF THE BOARDS OF GOVERNORS OF THE INTERNATIONAL MONETARY FUND THE WORLD BANK GROUP PROGRAM OF SEMINARS 16- 18SEP 2006, PAN PACIFIC HOTEL&SUNTEC SINGAPORE This September, join global decisions makers in discussions on the growth and investment opportunities of the world's327 words
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MALAYSIA/INDONESIA
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Article, Illustration648 2006-08-16 12 It is in talks with an international index provider: deputy finance minister Bloomberg [KUALA LUMPUR] Bursa Malaysia Bhd, the nation's stock exchange manager, plans to introduce a new set of Islamic indexes to draw more investors, said Awang Adek Hussin, a deputy finance minister. BursaBloomberg; BLOOMBERG - 648 words
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318 2006-08-16 12 Reuters [KUALA LUMPUR] Malaysian property, financial and automotive group DRB-Hicom Bhd denied yesterday domestic media reports that it might buy a stake in state carmaker Proton Holdings Bhd. The weekend business edition of the Star newspaper reported that Malaysian tycoon SyedReuters - 318 words
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Article2265 2006-08-16 12 vol General Corp 0.58 -0.01 39 Aug IS RM *1- (-000) Gentinq .24.70 0.50 674 George Kent 0.48 0.01 19 ASM Realty 1.45 unch 10 GHL Systems. 0.23 0.01 2851 Abnc: -0-32 unch 12 Globetronics Tech 0.30 unch 816 ACP Industries .0.81 -0.02 230 Glomac Bhd 1.11 -0.012,265 words
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226 2006-08-16 12 AFP [MANILA] President Gloria Arroyo has revoked the award of a contract to Malaysian firm Mitra Energy Ltd to produce oil at a natural gas field off the western Philippines, the presidential palace said yesterday. Ms Arroyo ordered state-run Philippine National OilAFP - 226 words
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460 2006-08-16 12 It is seeking new reserves to raise falling production Bloomberg [JAKARTA] Indonesia, South-east Asia's largest oil producer, invited bids for 41 oil and gas areas to raise the country's dwindling petroleum reserves and production. The country, after delaying the bidding round atBloomberg - 460 words
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Article, Illustration647 2006-08-16 12 NEWS ANALYSIS Reuters [KUALA LUMPUR] Malaysians are witnessing a row between past and present leaders with fascination, dread and one burning question: will it end with the incumbent's downfall? Political analysts don't rule it out but say the first victim of formerReuters; AFP - 647 words
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GREATER CHINA/INDIA
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621 2006-08-16 13 Move necessary to offer credit cards, yuan-denominated services Bloomberg [BEIJING] Citigroup Inc, HSBC Holdings Pic, and other overseas banks that want to offer credit cards and yuan-denominated services in China will have to incorporate locally, under China Banking Regulatory Commission plans. Lenders will needBloomberg - 621 words
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Article, Illustration57 2006-08-16 13 [NEWDELHI]Indian security personnel stand guard at the Red Fort during Independence Day celebrations in New Delhi yesterday. Security was tight across India as Indian Prime Minister Manmohan Singh addressed the nation on its Independence Day after Washington warned of possible militant strikes in the wakeREUTERS - 57 words
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509 2006-08-16 13 ANALYSIS Reuters [SHANGHAI] A year after a debt-ridden, mid-sized bank in southern China went on sale, it has become a political football kicked around by presidents, powerful corporations and foreign financiers. The fierce rivalry shows how keen foreign and local investors are toReuters - 509 words
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621 2006-08-16 13 SIDDHARTH SRIVASTAVA - Concern over rising obesity reason for many to relish row By SIDDHARTH SRIVASTAVA in New Delhi IT HAS been a tough ride for cola companies in India following a report by an environment body that Pepsi and Coca-Cola contained an621 words
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Page 13 Advertisements
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Advertisement243 2006-08-16 13 EXPRESSION OF INTEREST FOR ABANDONED SHOPPING MALL We are seeking expression of interest for the rehabilitation/purchase of an abandoned shopping mall known as the Kemayan City Shopping Mall ("Property") located along Jalan Skudai, Johor Bahru, Johor Darul Takzim. The Property is a freehold land measuring 539,344 square feet designated for243 words
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Advertisement7 2006-08-16 13 Tuckshop with Marilyn Lee 10am 2pm Mon7 words
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ASIA-PACIFIC/WORLD
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598 2006-08-16 14 Lithium-ion batteries made by Sony unit could overheat, catch fire Reuters. LAT-WP [SAN FRANCISCO] In one of the biggest recalls in the history of consumer electronics, Dell Inc said on Monday that it would recall 4.1 million notebook computer batteries because they couldReuters.; LAT-WP - 598 words
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Article, Illustration850 2006-08-16 14 LAT WP,NYT [LOS ANGELES] With Monday's appointment of Indi-an-born Indra Nooyi as chief executive, PepsiCo Inc has positioned itself to compete for key emerging markets in Asia and the Middle East, analysts say. Ms Nooyi, who had been the soft drink giant's presidentLAT; WP,NYT - 850 words
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380 2006-08-16 14 AP, Bloomberg [WASHINGTON] Inflation at the wholesale level edged up by the smallest amount in five months in July as falling food prices helped offset another rise in energy costs. The Labor Department reported that wholesale prices increased a slightAP, Bloomberg - 380 words
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577 2006-08-16 14 ANTHONY ROWLEY - Singapore issues statement expressing regret By ANTHONY ROWLEY in Tokyo OPENLY defying charges that his actions are wrecking Japan's diplomatic relations with East Asia, Prime Minister Junichiro Koizumi again visited Tokyo's controversial Yasukuni Shrine yesterday, provoking strong reactions from China and Korea, while Singapore expressed577 words
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WORLD WATCH
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Article104 2006-08-16 14 Reuters [SEOUL] Shinhan Financial Group, South Korea's No 2 financial services firm, is likely to win the bid for LG Card Co Ltd for at least 6.9 trillion won (Ssl 1.3 billion), the Chosun Ilbo daily said yesterday. It said the Korea DevelopmentReuters - 104 words
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Article64 2006-08-16 14 Reuters [ZURICH! ÜBS said second quarter net profit jumped 47 per cent from one year ago to 3. 147 billion Swiss francs (Ss4 billion), well ahead of analysts' forecasts. It said net new money inflows into its wealth management business in the second quarter wereReuters - 64 words
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Article, Illustration569 2006-08-16 15 It is looking for more investments in business outsourcing Bloomberg [MANILA] Philippine billionaire Jaime Augusto Zobel de Ayala said he plans to open more call centres in the country, where revenue from business outsourcing services is forecast to surge more than sixfold by 2012.Bloomberg - 569 words
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Article, Illustration440 2006-08-16 15 AP [NEW YORK] Federal prosecutors say Jeffrey Skilling, the former Enron chief executive, is liable not only for his own ill-gotten gains but also for those of the late Kenneth Lay. In a court filing on Friday in Houston, the government said Skilling,AP; AP FILE PHOTO - 440 words
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506 2006-08-16 15 Soros also reduces holdings in Cisco and Microsoft Bloomberg. Reuters [NEW YORK] Influential investors Warren Buffett and George Soros have built new or bigger stakes in several pharmaceutical companies. Berkshire Hathaway invested in Johnson Johnson and Sanofi-Aventis SA this year, a filing withBloomberg.; Reuters - 506 words
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322 2006-08-16 15 Reuters [BOSTON] Business software maker CA Inc will cut 1,700 jobs, or 10.5 per cent of its workforce, after it reported that its first quarter net income fell 64 per cent as expenses rose. CA, which is trying to recover from accounting scandals,Reuters - 322 words
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210 2006-08-16 15 Bloomberg [NEW YORK] Few chief executive officers believe investors are better protected by the Sarbanes-Oxley Act, a survey by NYSE Group Inc said. The survey of CEOs at more than 200 companies found only 6 per cent said the accounting and corporate governanceBloomberg - 210 words
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315 2006-08-16 15 AFP (SAN FRANCISCO] A California computer security specialist released software on Monday to show that hackers can attack networks through widely popular Blackßerry handheld devices. Jesse D'Aguanno of Praetorian Global made a "Blackßerry Attack Toolkit" demonstration available for download at the company's website alongAFP - 315 words
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Page 14 Advertisements
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Advertisement1066 2006-08-16 14 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF PEOPIESOFT ASIA PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) CO. REG. NO. *****4028 M NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the Company held at 500 Oracle Parkway Redwood Shores CA ***** on the 29th1,066 words
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Advertisement19 2006-08-16 14 fl 1 1 jhPt ft" ?v i; kr J I^^^uskaj Sunset Boulevard with Jane Boey spm Bpm Mon Fri19 words
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Advertisement22 2006-08-16 15 Lianhe Zaobao n I I |H H I China's land I I control I I measures I I I I likitt I22 words
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AVIATION
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Article, Illustration543 2006-08-16 16 UK TERROR PLOT They cite delays in lifting security curbs despite terror alert easing AFP, AP [LONDON] The operator of Britain's main airports has come under mounting criticism, including threats of legal action, over its handling of heightened security restrictions following the thwartingAFP, AP; AP - 543 words
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Article, Illustration360 2006-08-16 16 KARMEN CHENG - Misunderstanding between travel manager, traveller By KARMEN CHENG [SINGAPORE] Companies miss out on millions of dollars in potential savings every year due to their inability to consolidate and optimise their corporate travel management regime, according to a survey conducted by Carlson Wagonlit Travel360 words
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LOG BOOK
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68 2006-08-16 16 AP [KUALA LUMPUR] Malaysia expects to seal an air service agreement with the European Union by the end of the year, said Transport Minister Chan Kong Choy yesterday. Under the pact, European airlines can fly between Malaysia and any of the 25 EUAP - 68 words
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Article86 2006-08-16 16 Bloomberg [HONG KONG] Marriott International Inc, the largest US hotel operator, will run a property with as many as 1,000 rooms at Hong Kong International Airport, as Asia's third-busiest airfield expands to meet tourism demand. The HK$l billion (*****.3 million) first phase of theBloomberg - 86 words
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78 2006-08-16 16 Bloomberg [SYDNEY] Jetstar, the discount airline owned by Qantas Airways Ltd, received regulatory approval to fly five weekly services to Honolulu. "Jetstar has been approved by the US Department of Transport to commence marketing of its future international long-haul services," the Melbourne-based company said.Bloomberg - 78 words
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72 2006-08-16 16 Bloomberg [AMSTERDAM] Dutch Finance Minister Gerrit Zalm will give the city of Amsterdam about a month to agree to a sale of a minority stake in Schiphol Group, Europe's fourth-largest airport operator. Mr Zalm plans to push ahead with his plans to sellBloomberg - 72 words
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444 2006-08-16 16 Bloomberg [KUALA LUMPUR] Kuwait Finance House, the Persian Gulfs largest Islamic investment bank, and other lenders, signed a US$23O million loan agreement to finance six Airbus SAS A 320 planes bought by Malaysia's Air Asia Bhd. The Islamic syndicated bank loan facilityBloomberg - 444 words
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212 2006-08-16 16 AFP [BEIRUT] Beirut's airport can partially reopen within a week with security guarantees against Israeli attacks which have inflicted US$2 billion in damage to the country's infrastructure, Transport Minister Mohamad Safadi said on Monday. "The airport can be reopened partly within a week...AFP - 212 words
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Article2128 2006-08-16 16 cm man fta flight rro TOW Dwaa MIS88 '910 MSWJSOS wiss 1300 MM S2081 0630 S2082 0910 ZZLzHzT LH97 ft 1750 LH9770 2345 5Q407 0715 ICB60 0925 >50 SQ229 2345 MK> 0740 A** 1 1625 I<aw VNi X*» 1W? sto A***** 2255 0»)l"rM 5Q141 1145 5Q1422,128 words
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Page 16 Miscellaneous
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Miscellaneous186 2006-08-16 16 CRYPTIC CROSSWORD DOWN V™ 7m the picture (11) YESTERDAY'S SOLUTION 1 a pressing las w Stemming a terrible charm Across: 1 Sermonisers, 9 Anti--2 First °f treasure found on (9) dotes, 10 In-off, 11 Bronco, 12 Asramble(s) .ritaniral whpn church oets signee, 13 Deform, 15 Off-break, 3 Light fitting for186 words
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SHIPPING
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Article, Illustration671 2006-08-16 17 DONALD URQUHART - It orders four 8,100-TEU vessels to be deployed on Asia-Europe route By DONALD URQUHART [SINGAPORE] After years of conservative capacity expansion, Neptune Orient Lines (NOL) has made its first foray into the very large container ship market with its first orders forBLOOMBERG - 671 words
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Article262 2006-08-16 17 Am» 15 5S U- VI CH Offshore .035 i«h 65 ChuanHup 032 unch 422 Coxo Corporation —1.51 unch 3606 CWT Distribution —.062 unch 211 EzraHkta 2.69 0.05 364 Fretghtunks .0.06 001 1292 Grand Banks Yacht 0.M -0.03 11 JayaHoMngi 134 -0.02 1263 K1 Venture 036 unch 1295 KmwICorp262 words
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Article760 2006-08-16 17 DAVID HUGHES - STRAIT TALK By DAVID HUGHES JUDGING by a press statement he issued last week, the managing director of Thai-based handy-size dry bulk shipowner Precious Shipping, Khalid Hashim, was more than a little irritated by headlines suggesting that his company had put in a weak performance in760 words
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Article, Illustration498 2006-08-16 17 Japanese tanker hits vessel on fire in bid to save its crew AFP [TOKYO/PORT BLAIR] A Japanese tanker was believed to have spilled 4,500 tonnes of crude oil in the Indian Ocean following a collision with a cargo vessel, the tanker's owner saidAFP; AP - 498 words
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343 2006-08-16 17 Reuters [OSLOI The world's biggest independent oil tanker group Frontline has sold its shares in General Maritime Corporation, and has or- dered four new Suezmax tankers for an undisclosed sum, it said yesterday. The 3.86 million shares were sold at US$4O per share toReuters - 343 words
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243 2006-08-16 17 AFP [MANILA] Rain and rough seas are hampering cleanup operations in the central Philippines after a tanker carrying two million litres of bunker oil sank, officials said yesterday. The locally-registered tanker sank in deep water off Guimaras Island at the weekend afterAFP - 243 words
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209 2006-08-16 17 Bloomberg [SINGAPORE] PSA International, the world's second-biggest container port operator, and Jurong Port handled 7.2 per cent more containers last month in Singapore, helped by growing trade. Singapore, the world's busiest container port, processed 2.13 million 20-foot standard boxes in July, anBloomberg - 209 words
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Page 17 Advertisements
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Advertisement98 2006-08-16 17 TUVALU SHIP REGISTRY J'-'iV. QUALITY SERVICE QUALITY FLAG 1. Low taxes 5. Worldwide network of surveyors 2. Agreements with lACS members 6. No restriction on nationality of ownership on surveys and issuance of 7 Tuva)u a party to STCW 1987 convention Statutory certificates a# amended, and is a country in98 words
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EDITORIAL & OPINION
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Article513 2006-08-16 18 EDITORIAL THE story of the second half outlook for Singapore, the region and beyond remains a cautionary one that warns: Slowdown road humps ahead. The road humps and speed traps are no small bumps indeed: High oil prices remain potentially the biggest threat, with knock-on513 words
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Article, Illustration753 2006-08-16 18 ROBERT SAMUELSON - THE BOTTOM LINE ROBERT SAMUELSON suggests little cause for complacency. The Washington Post Writers Group THIS is an age of glaring contradictions. It is hard to ignore the great disconnect between the rise of terrorism and the relentless advance of the worldsuggests little cause for complacency. — The Washington Post Writers Group - 753 words
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Article, Illustration1188 2006-08-16 18 ROBERT PRIOR-WANDESFORDE - Fiscal constraints limit infrastructure development while agriculture continues to struggle with weak productivity growth By ROBERT PRIOR-WANDESFORDE IN THE past, the Indian economy has frequently been likened to a slow and lumbering elephant, particularly when compared to the fast-growing Asian tigers. But India's startlingREUTERS - 1,188 words
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Article, Illustration753 2006-08-16 19 AL LABITA - Tycoon also reflects on triumphs and regrets in retirement speech AL LABITA Manila Correspondent AFTER decades of running his business empire, Chinese Filipino taipan John Gokongwei is retiring. But maybe more so than his past business triumphs, the 80-year-old will be remembered753 words
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205 2006-08-16 19 Narayana Narayana Singapore - Narayana Narayana Singapore IT WAS with great surprise that I read the report "GEH minorities who hold out face risk" (BT, Aug 14). Essentially, this report warned non-assenting minority shareholders of Great Eastern Holdings (GEH) that they face all kinds of risks by205 words
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Article, Illustration1581 2006-08-16 19 THOMAS FULLER - By THOMAS FULLER THE hopes and fears of a surging Chinese economy, the warnings of catastrophic trade imbalances, the million-dollar salaries of American retail executives the story begins here, on the factory floor where Wang Haiyun hunches over her sewing machine and stitches aboutREUTERS - 1,581 words
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138 2006-08-16 19 Denis Distant Singapore - LETTER TO THE EDITOR Denis Distant Singapore I REFER to the article "GEH minorities who hold out face risk" (BT, Aug 14). Your writer seems certain that 1 GEH shareholders who do not accept OCBC's offer of $16 for their shares will rue the138 words
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Page 19 Advertisements
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Advertisement103 2006-08-16 19 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletter@sph.coiit.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 libel103 words
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Article10165 2006-08-16 20 SGX MAINBOARD Transaction date: Aug 15 S2-Wk T«l Ust Vol Day LotQuota GfOtv Mv GrVW Nat MCap Wgh Low Coda Company Ml COBB) low »uyar Wjar Cvr S WE Smi 4 1 5716 1st Software Sc 2 -0.5 2 2 2 2 3 11 11.5 6 3148 8TeiecomUS2c10,165 words
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Advertisement88 2006-08-16 20 Low cost IDD at your fingertips With Phoenix 1516 IDD, it has never been tins easy and affordable to reach your business contacts wherever they are in the world A' 1 our uninterrupted, clear voice quality, zero subscription fees, plus free registration give you even inore savings every time you88 words
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Article5884 2006-08-16 21 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES la local atrt la IS HUH \dy Kyr tfy yr <tf %yr «,1X) 14 Indwt Ch«ng« C>ur»a« Chan— Chang* Chfxf Ch«ny« Wort) Inden Preftmnry 993.1 09 2.4 0.9 OJ 0.7 5,6 > EAfE Pretimtnaty ***** 1.0 3.1 0.9 41 0.7 9.6 Europe Prefan«i»Y5,884 words
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Page 22 Advertisements
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Advertisement1704 2006-08-16 22 UK CONTINENT SERVICE U.3.A SERVICE Destination Destination EVGENIA RDM/ATW/BMN/TLB/NAN HANJIN PENANG lAX/VCW/MZL loads Singapore. E./W. Molayiio, lndon«sio l,«k|, E./W. Malaria, ln<Wio MIDDLE-EAST SERVICE F.EJS.E.A. SERVICE Destination VOYAGER V DBI/ABU/DOH/BRN/DMM/KWT Destination GLOBAL MOKPO DBI/ABU/DOH/BRN/DMM/KWT STXPOTBN INC/BSN PAN DYNAMIC JDH/AQA Loads Singapore, E./W. Malaysia, Indonesia Loads E. Malaysia, Indonesia OTHER SERVICES Tramping1,704 words
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Advertisement565 2006-08-16 22 iwnmiAto.otivK. I VBgL/VPT tAftKT) HBGHTPU PKG Ml UJ 9N *T OUVUO2 S 4 17/* SIUnSVB(TUttIS/l* 1$ JJ 17/W »/<* W/08 31/01 |STUnSYBfTUK 14/0 i 15 3J 01/W I ia sw wb syp m mm m I a I ta I TIGXIS LEAOCK /DO3 50 4J 17-17/07 31 31/07 02-02/ M565 words
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Advertisement1316 2006-08-16 23 WAN HAI INTERNATIONAL PTE LTD a NOt **********0/1 VrrA mil. TIL *****5 M (HUMS) FAX; *****163 \\\M WAN HAI I INr\ CaHmmS**k»/lookh»»DtotfUm-(1800)*****200 11 V >I™l I Inl mnLmsMMMiM:m»«swni«:Mau«oNUbMmM*f V* JoMll:|V)2SlMBiU:|tf)Bl«ttlMa:|tSl)l»MnMl:|ni)imnVWUtt www wawhai mm <a *T It 021) *****MHUL1021) 5254 m n*m: 714*0/714*1 FAi *****1 www.wmii.ttw.>! MW;mi)4ls7W WX:(OH)<IS>T?S/41O1W w a w1,316 words
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Advertisement998 2006-08-16 23 f-jp, EASTERN CAR LINER, LTD SPECIALIZE IN ROUP HEAVY UFT UPTO 450 TONS MTIA-ASU SfRVKI VOY R«p Uftta| SIN TPf PU(N) PKUW) MM JKT Id MUA SIM MIU I ITU ESTRELLA ETERNA 125 60 I l»/0« I 20/01 23/01 21/01 MtuMT ~i I WM IT7H R7» —m NOZOMI 50 "20/998 words
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Advertisement744 2006-08-16 23 SO3S& WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS VKSfI VOY SW rJUNG COU3MO HSMVA COUMMO KOTAfBWWA miLUM QMIL. TOAU6 UM UM IHDIU GANDHI OIQ6W 72 AUG OMIT 26 AUG 2UUG 02 SEP RAJIV GANDHI 01 WW 29 AUG OMIT 02SEP 06 SEP 10SEP KttAtatAMA744 words
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Advertisement735 2006-08-16 24 ml- lA*I iu iJ *k 65-*****907 Fre *****917 Nordana (Asia) Pte Ltd 70SU.twiW«y, *21-03 Mari— H—— Sjfcyce *****8 NORTH WEST EXPRESS LINE MONTHLY SERVICE TO WESTERN AUSTRALIA AND ISLANDS OTP ME ARRIVAL DATES IVKSa VOT Singapore P—Bhr Ert—tfe Cncwlriutod fljjSiH Nriiftdii BS 1E606 l VM _31 Jul SSM UM &Ju735 words
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Advertisement574 2006-08-16 24 mcmnm imS iftai i$H almukyai *n uToi it^m I ass; sat I i;« I Jg|| ™SLJ^!LL„ VBStl VOY SM r AMI GUOANG OfITYAGONG v«»d i 1«.i.d1 I *i tt.|«J th|tri v w «i| «j IK« I «r1 -gH?. MP =Bp -H-1-M- jjjjj rfl— P -SBF I SinS I iTtt I574 words
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Advertisement420 2006-08-16 24 CONVENTIONAL SERVICE LOADING FOR LOADING FOR LOADING FOR COLOMBO-RORO COLOMBO MUMBAI 22 AUG 15 AUG 22 AUG LOADING FOR DUBAI/DAMMAM 28 AUGUST rjaj GLORY NAVIGATION GROUPI I( snta I*7o I OWNS A OPERATES THE YOUNGEST FLEET WITH FOURTEEN 7,000 DWT TWEEN DECKERS I COVERING THE ENTIRE ASIA PACIFIC PORTS 8420 words
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THE BUSINESS TIMES SHIPPING TIMES
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6634 2006-08-16 25 This ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Desfn Name Name >■» Number SIN Desfn Name Name Number Number 13/09 28/09 Nordana PRINCESS MARY PM608 *****907 TO ABIDJAN (ABJ) 2003 Cote D'lvoire 17/09 25/09 PTDjakarta KAMAKURA 030S *****2036,634 words
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MOTORING
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Article, Illustration571 2006-08-16 26 SAMUEL EE - Borneo Motors receives 800 orders even before the car made an entry at its showroom yesterday By SAMUEL EE BOOKINGS for the new Toyota Camry have shot through the roof even before the first unit rolled into the Borneo Motors showroom yesterday. The authorised571 words
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Article, Illustration620 2006-08-16 26 SAMUEL EE - By SAMUEL EE JAPANESE models could lose their grip on the main taxi market in Singapore as a Korean model looks set to make headway as a volume alternative with its competitive pricing and low running cost. The Hyundai Sonata is vying620 words
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Page 26 Advertisements
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Advertisement180 2006-08-16 26 HE'S THE WORLD'S MOST INFLUENTIAL I Brand Forum Singapore 2006 GURU ON BRAND STRATEGY. HIS TECHNIQUES ON MANAGING BRAND EQUITY HAVE BEEN ADOPTED BY THE WORLD'S MOST VALUABLE BRANDS. HIS INSIGHTS ON LEADER BRANDS HAVE TRANSFORMED THE WORLD'S TOP COMPANIES. Mil ORE jjflT I two invaluable days with the world's180 words
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EXECUTIVE MONEY
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Article, Illustration1382 2006-08-16 27 LIM MENG TAT - LIM MENG TAT lists seven rules to bear in mind while looking at investment data LIM MENG TAT WHEN an economist with as much mathematical training as John Maynard Keynes complains about numbers, we should all take heed. It's not that theSource: MSCI Japan Index - 1,382 words
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Article, Illustration1139 2006-08-16 28 CLEMEN CHIANG - Effective use of public information network could be one way to achieve 25% profit on your investment MONEY MATTERS CLEMEN CHIANG ONE of the world's greatest investors is Warren Buffett. Recently, he gave away US$3l billion to the Bill and Melinda Gates Foundation. He became the1,139 words
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Article, Illustration952 2006-08-16 29 GENEVIEVE CUA - But US-ted slowdown expected in the shorter term, says analyst By GENEVIEVE CUA GLOBAL markets are halfway through a bull phase that is expected to last until 2010. But returns going forward may no longer be- as stellar, says Credit Suisse Private952 words
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Article, Illustration988 2006-08-16 30 GENEVIEVE CUA - A good financial strategy should consider all possible risk factors, reports GENEVIEVE CUA GENEVIEVE CUA Diversification is the standard advice given by any bank or advisory service seeking to manage wealth for clients. Yet the richest of private clients got wealthy by doing the oppositeYEN MENG JIIN - 988 words
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Page 27 Advertisements
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Advertisement343 2006-08-16 27 FRANKLIN TEMPtETON FUNDS J YEARS IN SINGAPORE 1 i v -A iVN'> '"V ■>"-.? j V J \4\,' ,i J /:>JPb x "> irHrAV" i w BL Mt fl^H| ■p r «f Jr. J^H »> <-\ '*M THANK YOU FOR YOUR TRUST. t""-"'' i* <• Partnerships and relationships evolve over343 words
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Advertisement730 2006-08-16 28 SWAT Accounting If you are facing any of these: r~~" OUTSOURCING "messy" accounts arising from change of systems/staff turnover If you need short or long-term accounting assistance, for e.g.: inability to meet statutory reporting deadlines yQur rtaff are on b|ock eave g mate rnity leave, reservist urgent need to submit730 words
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Advertisement25 2006-08-16 28 HOT IPO I Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 i or email notices@sph.com.sg. "f*' < :"i25 words
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Advertisement209 2006-08-16 29 w *s>, aR wgj |H Hbl fl I v VV v Hf w Invest now to enjoy a lower charge on Flexi-Cash! Here is your last chance to invest in the money market fund (Flexi-Cash) during our promotion to enjoy lower spread of 0.1%. Our money market fund earned an209 words
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Advertisement114 2006-08-16 29 ."i CHARTING DIRECTIONS Place your AGM and EGM notices in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. QgVINANYANG 1 TECHNOLOGICAL UNIVERSITY Nanyang Business School Nanyang Executive Programs At The Cutting-Edge of Asian Executive Education Berkeley-Nanyang Advanced Management Custom Programs Program VVe also offer corporate in-house training 15-24 November114 words
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Advertisement412 2006-08-16 30 RHJ4DWNK (bartered "HH" UWIT6O ovws«ASBAI« J VW^22M K TW: 1800-323 0100 7.1:1800-789 7000 T«l: 1800-22 22 121 Disclaimer* This document is intended for informational purposes only and does not constitute investment advice or recommendation. It was prepared without reaard to the specific objectives, financial situation or needs of any particular412 words
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Advertisement8 2006-08-16 30 MONEY MATTERS How to maximise returns PAGE 288 words
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