The Business Times, 22 August 2006
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2006-08-22
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The Business Times
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Title Section18 2006-08-22 1 THE BUSINESS TIMES ■vth ANNIVERSARY 5> SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 099/03/2006 Tuesday, August 22,200618 words
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937 2006-08-22 1 NANDE KHIN - Mid-sized firms view Middle East, Africa and Latin America as attractive markets By NANDE KHIN [SINGAPORE] Angola, El Salvador, Kazakhstan and Algeria. Most people here would be hard pressed to locate these countries on a map but that's not stopping Singapore companies937 words
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746 2006-08-22 1 KALPANA RASHIWALA, ARTHUR SIM - Libeskind may be facing a brick wall with his design for condo at Keppel Bay By KALPANA RASHIWALA, ARTHUR SIM [SINGAPORE] Some big-name architects much touted here for upcoming landmark projects may not see their designs built after all. Pelli Clarke Pelli746 words
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Page 1 Advertisements
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Advertisement38 2006-08-22 1 SPOTLIGHT Hie 'real' Phua Chu Kang page 10 mmmpmm national DAY RALLY Companies applaud iH PM Lee's speech pages COMMENTARY CityDev should build up a Reit platform PAGE 4 jit l r xiBEflflDm !n I I /^HH|^^H an^HU^%*38 words
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Advertisement56 2006-08-22 1 ANALYSIS China's small banks underpressure PAGE 21 PROPERTY 9)« ,'fk &raraJ».*A'£: ak #2 '"tK" i 1 n h UOL close to buying Nassim Park: sources PAGE 4 Horizon Towers Ms to fetch minimum price PAGE 3 En bloc sale firming j up for Ming Arcade j PAGE 30 ij H^EL56 words
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TOP STORIES
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933 2006-08-22 2 DANIEL BUENAS - Pleasant surprise over quality of country's innovations By DANIEL BUENAS SINGAPORE may be small but its innovations are of the highest "quality" and have some of the greatest technological impact in the Asia-Pacific, a study by the National University of Singapore (NUS) Entrepreneurship933 words
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Article400 2006-08-22 2 SMEs fret over recruiting and retaining staff: survey RECRUITING and retaining qualified staff these are issues that more small and medium-sized enterprises (SMEs) are losing sleep over. Manpower issues overtook operating costs to become the second-biggest challenge faced by SMEs, according to a DP Info survey. TOP STORIES,400 words
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398 2006-08-22 2 OUR CORRESPONDENT - By OUR CORRESPONDENT in Bangkok ADVANCED Info Service (AIS), Thailand's leading mobile phone operator, yesterday said it is looking to invest heavily in improving network quality and the company's image, which had suffered from the political fallout over the takeover of398 words
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544 2006-08-22 2 CHEN HUIFEN - By CHEN HUIFEN [SINGAPORE] MerLion Pharmaceuticals Pte Ltd has merged with Germanybased Combinature Biopharm AG and Swiss firm Athelas SA in a landmark cross-border deal that will see both European biotech firms become wholly owned subsidiaries of the Singapore drug discovery544 words
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Article, Illustration282 2006-08-22 3 All 4 bids understood to be below $500 m reserve price [SINGAPORE] It was pitched as the biggest collective sale deal ever, with a price tag of $500 million. But the tender for the leasehold Horizon Towers which closed last week failed to282 words
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Article, Illustration700 2006-08-22 3 NANDE KHIN - Operating costs, manpower issues, competition are top worries: survey By NANDE KHIN [SINGAPORE] Recruiting and retaining qualified staff these are issues that more small and mediumsized enterprises (SMEs) are losing sleep over, according to latest SME Development Survey conducted by DP Information GroupSource: DP Information Group - 700 words
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Page 2 Advertisements
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Advertisement26 2006-08-22 2 Enterprise One www.business.gov.sg advisory and colSSancy services In starting and growing your business. Enterprise One for aH you need to start, sustain and grow your business26 words
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Advertisement15 2006-08-22 2 oeoDle I Do we know HH you? (Register with us today) www.thepeopleatwork.com Asia-Pacific Executive Search15 words
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Page 3 Advertisements
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Advertisement241 2006-08-22 3 Crustrade stays lean and trim PAGE 1 I? Asti aiming to breach $lb sales mark: exec chairman. Michael Loh. page 12 Our unrivalled range of markets includes thousands of individual shares, plus FX and global stock indices. Qf) C! *1 O Opening a position is quick and easy, and all241 words
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COMPANY NEWS
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384 2006-08-22 4 KALPANA RASHIWALA - Collective sale for freehold site may go for record $390 million By KALPANA RASHIWALA UOL Group is close to hammering out a deal to buy the prime Nassim Park through a collective sale, sources say. The price for the freehold site is understood384 words
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Article, Illustration447 2006-08-22 4 ARTHUR SIM - GROWING REITS MARKET They will spend up to $86m to add 200,000 sq ft of net retail space By ARTHUR SIM MULTI-MILLION-DOLLAR plans are underway to increase the net lettable area at Raffles City, say new owners Capita Mall Trust (CMT) and CapitaFILE PHOTO - 447 words
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Article, Illustration264 2006-08-22 4 CHEW XIANG - By CHEW XIANG MKDIA group Singapore Press Holdings (SPH) yesterday donated $200,000 to 20 charities. This is the third year running that it made a group donation and the first time that it chose to support programmes serving the needs of the disabled.CHEW SENG KIM/ST - 264 words
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697 2006-08-22 4 LESLIE YEE - HOCK LOCK SIEW By LESLIE YEE THERE was acrimony when Suntec Reit abandoned its $788 million purchase of 11 properties from City Developments Limited (CDL) in October last year. But that has turned out to be a blessing in disguise. At697 words
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Article, Illustration336 2006-08-22 5 CONRAD TAN - By CONRAD TAN MICRO-Mechanics' net profit jumped 42 per cent to $7.73 million for its full year ended June 30, on the back of a 19 per cent increase in revenue to $31.7 million. The home-grown company, which makes precision tools and parts for336 words
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COMPANY BRIEFS
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80 2006-08-22 5 DAYEN Environmental said yesterday it plans to issue 13.1 million new shares at 45 cents each to Singapore Airlines (SIA) chairman Stephen Lee, who is also chairman of the Singapore Business Federation. The shares represent 19.99 per cent of Dayen's existing share capital.80 words
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37 2006-08-22 5 ROTARY Engineering has been awarded a $24 million contract to build a biodiesel process plant on Jurong Island by Nexsol Singapore Pte Ltd, a subsidiary of the German Peter Cremer group.37 words
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Article60 2006-08-22 5 JARDINE Matheson has appointed Simon Dixon as group treasurer with effect from Sept 25. The Hong Kong-based conglomerate said Mr Dixon, a partner at PricewaterhouseCoopers Hong Kong for the last two years, will succeed Jim Rush, who has joined the board of the group's UK-based60 words
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53 2006-08-22 5 HARTFORD Education Corp's full-year net profit more than trebled from $327,000 to $1.17 million, on the back of a 36 per cent rise in revenue to $8.5 million due to an increase in student enrolment. The company proposed a final cash dividend of 0.4 cent per53 words
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52 2006-08-22 5 CHINA Aviation Oil has issued a tender to buy 37,000 tonnes of jet fuel for September delivery, according to Reuters, citing an unnamed company source. If awarded, the latest tender will boost the firm's jet fuel purchase for September to a record-high level of52 words
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38 2006-08-22 5 NOBLE Group said its joint venture partner Mid America Bio Energy and Commodity has secured a US$68 million credit facility to support the construction of an ethanol manufacturing plant in Cambridge, Nebraska.38 words
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Article104 2006-08-22 5 SINWA Ltd said yesterday that its substantial shareholders Mike Sim family and David Sim have reached an agreement over David Sim's 13.5 per cent stake in their joint holding company, Evenstar Investments Pte Ltd, following an order by the Court of Appeal to settle their104 words
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Article397 2006-08-22 5 MICHELLE QUAH - CORPORATE RESULTS Results fuelled by boom in Aussie commodities sector By MICHELLE QUAH ENERGY and resources play AusGroup Ltd has turned in an impressive set of full-year results benefiting from the boom in the commodities sector in Western Australia, where it serves global customers such as Shell,397 words
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Page 4 Advertisements
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Advertisement910 2006-08-22 4 OVERSEA-CHINESE BANKING CORPORATION LIMITED LOST STOCK CERTIFICATES The following stock certificates have been reported lost, mislaid or destroyed by the respective stockholders:QlUficateNo No of Stock In the Name of P*****57 1 X $580 Chan Lai P*****88 1 X $222 Phua Siew Lang P*****39 1 X $66 Pang Ai Cheng P*****73910 words
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Advertisement56 2006-08-22 4 Joining forces? Announce the good news. Call 1800 289 8822 or email notiees@sph.com.sg to book your corporate notice in our newspapers now. [•■ATO NOTICES I i A TTB 1 > «Pm g/ |ESSSRMS Travel from now till end October 2006. Minimum 4 to go. Prices irxficated exclude taxes and applicable56 words
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Advertisement88 2006-08-22 5 j can assist you with offshore structures, shelf companies fIHT/ British Virgin Islands cayman Islands Bahamas Mauritius ■HHBHHi Samoa Full nominee, management, secretarial, banking and corporate administration services are available. We also specialize in offshore trusts for assets protection estate planning. For further information and immediate service please contact: Angela88 words
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Advertisement520 2006-08-22 5 111ife 13.0S 0 1 potential return over 3 years. Maturity now comes faster. 'Ai.: VFollowing the success of DBS High Notes 1 and 2, we're introducing DBS High Notes 3, a specially selected basket of credits that gives you potential returns in a shorter time. With DBS High Notes 3,520 words
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SINGAPORE MARKETS
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Article, Illustration549 2006-08-22 6 R SIVANITHY - STOCKS Banks and SingTel pull down index; motley mix of second-line stocks in play R SIVANITHY Senior Correspondent ■■■■■I HE local stock market kicked off the week on a soft note yesterday, dragged lower by a steep fall in Hong Kong as wellSource: Bloomberg - 549 words
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Article, Illustration1011 2006-08-22 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Aug 21 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Stock Date Director Sell '000 Shr S 000) 000) CIH Ltd 21-Aug-06 Gold Peak Ind *Buy 1174 na ***** 70.56 ***** 71.47 CIH Ltd 21-Aug-061,011 words
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Article, Illustration810 2006-08-22 6 UMA SHANKARI - Compiled by UMA SHANKARI Synear Food Holdings Aug 21 close: 91 cents DEUTSCHE BANK. Aug 21 WE ARE initiating coverage of Synear with a "buy" rating. Our target price of $1.08 implies more than 25 per cent' total return potential from the price of $0.8i6. As a manufacturerSource: Bloomberg - 810 words
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Article, Illustration525 2006-08-22 6 LARRY WEE - CURRENCIES LARRY WEE Senior Correspondent EUROPEAN units led another assault against the US dollar yesterday after the latter's weak showing in the US last Friday, and the Chinese yuan also posted a fresh postdepeg high following rate hikes an- nounced by China.Source: Reuters - 525 words
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COMPANY NEWS
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399 2006-08-22 7 LESLIE YEE - By LESLIE YEE OCBC Bank may have failed in its attempt to take insurer Great Eastern Holdings private but the bank is busy buying up more shares in its listed subsidiary. Market players say should OCBC continue to buy more GEH shares,399 words
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Article, Illustration209 2006-08-22 7 THE Malaysian arm of Singapore's OCBC Bank has expanded its branch network in Malaysia for the first time in 40 years, following a change in banking rules. OCBC Malaysia has opened a branch each in Penang and Selangor. Two others will open in209 words
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Article, Illustration351 2006-08-22 7 JEAN CHUA - The convenience food joint venture is expected to bring in revenue by H207 By JEAN CHUA SINGAPORE-listed Super Coffeemix and China Lifestyle Food Beverages Group are forming a US$5 million joint venture to make convenience foods and snacks in China. TheFILE PHOTO - 351 words
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Advertisement6 2006-08-22 7 vi/ Love Always Suzanne W^ker '^Bm6 words
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Advertisement106 2006-08-22 7 MONT* BLANC r— > z n U BLANC MOHTBLANC MONTBIANC MONTBLANC Perfect Impressions Montblanc Corporate Gifts \j z < mmi CQ In the world of business where relationships are paramount, values of sophistication and timeless quality translate into the ultimate j expression of apprenation The luxurious Montblanc Corporate gift makes106 words
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SINGAPORE NEWS
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Article, Illustration433 2006-08-22 8 DANIEL BUENAS - 169 venture capital firms, 900 venture-backed high tech firms here By DANIEL BUENAS INCREASING numbers of foreign technopreneurs are setting up shop in Singapore, showing that efforts to build an attractive environment for research and commercialisation seems to be paying off, permanent secretary ofLIANHE ZAOBAO - 433 words
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446 2006-08-22 8 WEE LI-EN - Execs say 'timely' speech discussed the 'right issues' By WEE LI-EN BUSINESS leaders yesterday welcomed Prime Minister Lee Hsien Loong's National Day Rally speech, saying it was timely and identified the right issues. "The speech is very timely for Singapore which is shifting gears446 words
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212 2006-08-22 8 SINGAPORE'S domestic and foreign trade indices each rose 17.4 per cent year-on-year in the second quarter of 2006, boosted by higher oil prices, according to latest figures from the Department of Statistics. Strong oil prices were the main reason for a 30.8 per cent jump212 words
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401 2006-08-22 8 LESLIE YEE - Loans up 1.1% m-o-m, 5.7% y-o-y to $189.6b in June By LESLIE YEE BANK lending to non-bank customers continued to grow in June, rising 1.1 per cent month-on-month and 5.7 per cent year-on-year to $189.6 billion at end-June, according to latest preliminary numbers released401 words
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195 2006-08-22 8 A NEW chief executive will take the helm at the National Heritage Board (NHB) from Septl. Michael Koh Soon Hwa takes over from Lim Siok Peng, who will retire after 29 years with the Public Service. Mrs Lim was made NHB's chief195 words
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Article, Illustration335 2006-08-22 8 SOME 16,000 foreign delegates in Singapore for the IMF/World Bank annual meetings in September will walk down the hallowed corridors of the former City Hall. The historic 68-year-old building at St Andrew's Road, which has been closed for maintenance since last335 words
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440 2006-08-22 8 MICHELLE QUAH - By MICHELLE QUAH ANOTHER local charity is being probed for possible governance and financial management irregularities. The Commissioner of Charities (COC) will conduct an inquiry into Youth Challenge (YC), after receiving a complaint about the way the charity is being run. The Inland Revenue440 words
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362 2006-08-22 8 LESLIE YEE - By LESLIE YEE HSBC yesterday launched the first principal-protected retail note in Singapore, to be called Prime Notes, while Maybank announced that it will be the first Qualifying Full Bank in Singapore to offer a CPF time deposit. Prime Notes offers retail investors a potential362 words
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Page 8 Advertisements
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Advertisement9 2006-08-22 8 T wake up to a i brand sound **9139 words
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ENTERPRISE & INNOVATION
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Article898 2006-08-22 9 MATTHEW PHAN - Local start-ups are benefiting from capital inflow, but many funds are moving to China and India, says MATTHEW PHAN MATTHEW PHAN THE venture capital (VC) industry in Singapore has grown steadily over the past few years, helping the country's ambitions to become a hub for898 words
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Article, Illustration962 2006-08-22 9 MATTHEW PHAN - By MATTHEW PHAN "WE tap into the empty space between how far up angels and how far down venture capitalists are willing to invest," says Carmelo Pistorio, managing partner of Upstream Ventures. Upstream, as its name suggests, is involved in early962 words
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Article1094 2006-08-22 9 MATTHEW PHAN - By MATTHEW PHAN HURT by the dotcom bust in 2001, many angel investors dropped out, leaving professional venture capitalists to carry on the hunt for profitable start-ups. But with the economic recovery, the emergence of new highnet worth businessmen and executives and perhaps most1,094 words
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Page 9 Advertisements
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Advertisement13 2006-08-22 9 This is the second of a six-part series, brought to you by EDB13 words
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SME SPOTLIGHT
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Article, Illustration1274 2006-08-22 10 NANDE KHIN - Jason Parquet MD tells NANDE KHIN about his customer-friendly business strategy NANDE KHIN THE yellow boots are not there, nor are the curly hair and the infamous big black mole on the face. But the lack of a physical resemblance does not stop Jason1,274 words
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Article, Illustration1003 2006-08-22 11 MELISSA LOH - Crustrade is growing despite remaining lean, reports MELISSA LOH MELISSA LOH SPARKED by more than just culinary interest in seafood, Crustrade Pte Ltd managing director T Ravindran has steered his company from a small start-up to rank 64 on the SME 500 list for sales1,003 words
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Article, Illustration1049 2006-08-22 11 CRYSTAL NEO - By CRYSTAL NEO All it took was a bus vendor's assurance. That was Mr Ooi Kim Thong's ticket to the start of Nam Ho Travel Service which will be celebrating its 50th anniversary this year. Having heard that bus operations were profitable, the formerARTHUR LEE - 1,049 words
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Article, Illustration830 2006-08-22 12 MATTHEW PHAN - SMALL CAPS Two-year sales growth is being reached with the help of takeovers, writes MATTHEW PHAN MATTHEW PHAN ASTI Holdings, which provides inspection equipment and services to the semiconductor industry, is aiming to leapfrog several stages of organic growth and grow the topline830 words
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Article6143 2006-08-22 12 UNIT TRUSTS FUNDS AB Am<f ncome A EUR 6.67/ AB Amer income 6 EUR 6.67/ AB Europ Income Opp AT SGD 1508/ AIN Amro Alfet Mgt (S port) AB Europ Income Opp BT SGO 15 08/ Sar Europe Eqy 0.9» AB Europ Income Opp AT EUR 7.47/ AB Europ income6,143 words
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Advertisement253 2006-08-22 10 M■ v H (P P i 1| v'ijj-* ~'"y >'.' {-<*||^^^H^HHHBjfi9B HSni I HLiiifl -M ,i t j^PSSnI l SMV A ||3 IE& ri V: 1^ m u 1 ;-i|.^'®.' llf^ifiii^hW^lP!lb!l > Businesssaver a current account for businesses with the highest interest rates' in town. As a business owner, you253 words
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Advertisement35 2006-08-22 10 I \YFoi Get a Leading Edge J Your sailing schedules get wider attention in The Business Times shipping pages J Call Bernard Ong at 631 9-1 645 or Michael Chng at 631 9-2062 Shipping Times35 words
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Advertisement88 2006-08-22 11 urn in MIC >manage less Do you pore over every single detail, worrying about the 'what its' and the 'buts' when f it comes to growing your business? UPS can help take your mind off the small details and focus on the big picture: growing your business. We can help88 words
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Advertisement37 2006-08-22 12 jtfjL AllianzGI RCM Global Twin-Focus Fund a fund that offers you twin benefits Allianz (fil) of potential quarterly payouts and limits possible downside. Visit OCBC Bank for G) ba| more details <<M11P<1I1Y r, 'R n n WKI/I<>4/37 words
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ECONOMY WATCH
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Article, Illustration859 2006-08-22 13 Last Friday's rise in interest rates took market by surprise, say dealers Reuters [SHANGHAI] China's surprise interest rate rises last Friday are likely to prompt an upward test of the yuan against the US dollar, while stocks and bonds willReuters; AP - 859 words
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Article, Illustration275 2006-08-22 13 ADB keen to fund S'poreKunming rail link Bernama [SEPANG, Malaysia] The Asian Development Bank (ADB) has indicated that it is keen to fund certain parts of the trans-Asia railway project from Singapore to Kunming, Malaysian Transport Minister Chan Kong Choy said on Sunday. "Other than that, the various countries haveBernama; BLOOMBERG - 275 words
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Page 13 Advertisements
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Advertisement46 2006-08-22 13 '—-J—? <H; 'l_ H C I O r J pj 1 CUFIND THE ONES hLSI U -J THAT FIT! a X jrJ Recruit the right people S <L—~] 1 _J through CATS Recruit. —f tJT Call 1800 289 8822 or email recruit@sph.com.sg to advertise. h j—)46 words
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Advertisement104 2006-08-22 13 Fares shown are for per person for a round-trip on Business Class for travel from 18 Aug 06 and travel must be completed by 15 Nov 06. Tickets must be issued within 5 days upon confirmation of booking or by 29 Aug 06 whichever is earlier. Tickets are non-reroutable, non-endorsable104 words
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MALAYSIA/INDONESIA
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Article, Illustration523 2006-08-22 14 PAULINE NG - It may sell land for the project or join the venture by new Genting unit By PAULINE NG in Kuala Lumpur GALLANT Venture, the Salim group's Singapore-listed vehicle, may team up with a new unit of Malaysia's Genting group to helpFILE PHOTO - 523 words
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Article2357 2006-08-22 14 vol General Corp 0.S9 -0.01 50 Aug 21 RM *1- ("000) Qenting .24.80 0.10 208 George Kent 0.50 0.01 8 ASM Realty 1.45 unch 3 GHL Systems .0.23 unch 1696 Abric 0.32 unch 0 Globetronics Tech 0.30 0.01 129 ACP Industries 0.81 unch 183 Glomac Bhd 1.14 unch2,357 words
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482 2006-08-22 14 Reuters [SINGAPORE] Indonesian bank Renaissance Capital is struggling to seal its US$3.2 billion coal mine deal with Bumi Resources as foreign creditors, alarmed by poor performance of one of the mines, want to cut lending for the deal. Under the previous plan,Reuters - 482 words
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188 2006-08-22 14 AFP [KUALA LUMPUR] South Korean auto maker Ssangyong Motor is planning to make Malaysia its export hub for Southeast Asia, capitalising on lower taxes for vehicles made in the region, a report said yesterday. Competitive Supreme, Ssangyong's Malaysian distributor, said the Rexton IIAFP - 188 words
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Article, Illustration501 2006-08-22 14 Reuters [KUALA LUMPUR] Southeast Asia has hit a new record in inward investment, surpassing levels last seen on the eve of the Asian financial crisis a decade ago, a study showed yesterday. The study, prepared by accountants PricewaterhouseCoopers for Asean, says foreign directReuters; FILE PHOTO - 501 words
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219 2006-08-22 14 Reuters [KUALA LUMPUR] Malaysia is considering setting up a telecommunications infrastructure firm to oversee a state plan to give more Malaysians access to high-speed Internet services, a minister said yesterday. Malaysia, which lags far behind more tech-sawy Asian neighbours like Singapore and SouthReuters - 219 words
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GREATER CHINA/INDIA
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BRIEFLY ASIA
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Article59 2006-08-22 15 Reuters [MUMBAI] Ranbaxy Laboratories Ltd, India's top drug maker by sales, is close to acquiring Russian generic drugs maker Akrikhin for US$ 100 million, the Business Standard reported yesterday. It says the likely acquisition of Akrikhin would help Ranbaxy expand in the Russian market, whichReuters - 59 words
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Article76 2006-08-22 15 Bloomberg [HONG KONG] Hong Kong pro-democracy legislator Albert Ho was beaten on Sunday at a city-centre restaurant by men armed with baseball bats and is being treated in hospital. Police are investigating the attack. The men beat Mr Ho at a McDonald's restaurant on Queen's Road inBloomberg - 76 words
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67 2006-08-22 15 Bloomberg [HONG KONG] Citic Pacific Ltd, a Hong Kong-listed company with investments in utilities and airlines, said first-half profit rose 24 per cent as sales jumped by two thirds. Net income increased to HK53.44 billion (*****.2 million), or HK$l.57 a share, fromBloomberg - 67 words
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61 2006-08-22 15 Reuters [LUCKNOW] Bismillah Khan, one of India's best-known musicians and a master exponent of the wind instrument shehnai, died of heart failure at the age of 90 early yesterday, doctors and his personal secretary said. Schools and government offices were closed in his home stateReuters - 61 words
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Article65 2006-08-22 15 AFP [KUALA LUMPUR] Malaysia has urged Indonesia to tackle the forest fires it blames for the choking haze that has engulfed the region. Deputy Prime Minister Najib Razak said cooperation was ongoing with Indonesia over forest fires on Indonesia's Sumatra island and Kalimantan on BorneoAFP - 65 words
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303 2006-08-22 15 Most survey respondents say they would not report bribery cases Reuters [BEIJING] Most Chinese see bribes and kickbacks as an indispensable part of doing business in the country, state media yesterday cited a survey as showing. China is known for its millennium-old business culture centredReuters - 303 words
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Article, Illustration411 2006-08-22 15 Three former execs have been detained by govt officials under graft charges Bloomberg Reuters [HONG KONG] Shanghai Electric Group Co Ltd yesterday again dismissed any connection to a widening corruption probe that has ensnared three of its top executives and cast a cloud overBloomberg; Reuters; AFP - 411 words
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Article, Illustration67 2006-08-22 15 —Reuters [QINGDAO] Competitors of the 2006 Qingdao International Regatta sailing competition compete on the first day of the games in Qingdao. in China's eastern province of Shandong, yesterday. The first official test event for the 2008 Olympics got underway yesterday afternoon when a fleet of boats sailed—Reuters; REUTERS - 67 words
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360 2006-08-22 15 Reuters [HONG KONG] Hong Kong has reached an agreement with mainland China to prevent double taxation by the two jurisdictions and to reduce the tax burden for Hong Kong residents and businesses, the government said yesterday. Under the arrangement, Hong Kong-registered companiesReuters - 360 words
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300 2006-08-22 15 Bloomberg [MUMBAI] Shares of Centurion Bank of Punjab Ltd, an Indian lender headed by former Standard Chartered pic chief executive Rana Talwar, surged after the bank said it will combine with a smaller rival. The stock gained as much as 14.1 per centBloomberg - 300 words
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282 2006-08-22 15 Bloomberg [NEW DELHI] GlaxoSmithKline Pic, the world's second-biggest drugmaker, withdrew its patent application for the Aids drug Combivir in India after resistance by patient groups in the South Asian country. "GlaxoSmithKline has voluntarily withdrawn its patent application" for the drug, N YBloomberg - 282 words
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Page 15 Advertisements
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Advertisement24 2006-08-22 15 GOOD CORPORATE GOVERNANCE Create greater transparency for your company by advertising your financial results in our newspapers. Call 1800 289 8822 or email notlcesisphxorlsq.24 words
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ASIA-PACIFIC/WORLD
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423 2006-08-22 16 Aug 31 deadline by UN to halt uranium enrichment looks set to be ignored Reuters [TEHERAN] Iran's supreme leader Ayatollah Ali Khamenei said yesterday Iran would press ahead with its pursuit of nuclear energy, indicating it will not heed a UN demand to stopReuters - 423 words
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213 2006-08-22 16 Reuters [LONDON] Anglo American pic, the world's third-largest miner, could face a potential US$BO billion break-up bid from rivals, The Observer reported on Sunday. Brazil's CVRD, Swiss-based Xstrata and Rio Tinto are looking at a possible break-up bid and have hired financial advisers aheadReuters - 213 words
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Article, Illustration395 2006-08-22 16 He aims to improve Tokyo's relations with China, S Korea AP. AFP [TOKYO] Japanese Foreign Minister Taro Aso officially announced his candidacy yesterday to succeed Prime Minister Junichiro Koizumi next month, and called for better ties with Asian neighbours. Mr Aso saidAP.; AFP - 395 words
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470 2006-08-22 16 AFP [TOKYO] The United States is moving to freeze North Korean bank accounts which have proliferated in friendly countries in recent months, a prominent scholar said yesterday, quoting a US-South Korean joint probe. North Korea has boycotted talks on endingAFP - 470 words
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590 2006-08-22 16 Did Temasek's Shin stake break foreign ownership cap? Reuters [BANGKOK] This week's Thai investigation into the takeover by Temasek Holdings of Singapore of its biggest telecoms company is seen as having far-reaching potential consequences for foreign businesses as well as investors. TheReuters - 590 words
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WORLD WATCH
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85 2006-08-22 16 Bloomberg [FRANKFURT] Germany's Infineon Technologies has won an order from the US state department to, supply security chips for a new electronic US passport. The US government will start giving the new passport to its citizens later this year and plans to issue aboutBloomberg - 85 words
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Article84 2006-08-22 16 Bloomberg [SEOUL] Shinhan Financial Group, South Korea's second-largest lender, said it offered to buy as much as 78.6 per cent of LG Card for 6.7 trillion won (Ssl 1 billion). Shinhan plans to pay 68,410 won a share in a public tender forBloomberg - 84 words
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65 2006-08-22 16 Bloomberg [FRANKFURT] DaimlerChrysler must pay former Daimler-Benz shareholders an additional amount because they weren't paid enough in the merger, the Stuttgart district court said. DaimlerChrysler should pay the investors 22.15 euros for each Daimler-Benz share because the original payment in the 1998 combination ofBloomberg - 65 words
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Advertisement191 2006-08-22 16 Szechuan food never fails to titillate tastebuds with its blend of spices and chillies to make any bland dish taste oh so good! Have a hearty fiery ala carte buffet of favourites such as steamed "Pa-Ting" fish with< spicy preserved vegetables, stewed "Dong Po Rou", sauteed prawns with sweet and191 words
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WORLD
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Article, Illustration393 2006-08-22 17 Bloomberg, Reuters [LONDON] British investment firm Belgravia Group said yesterday it was considering buying Newcastle United pic sending shares in the English football club up as much as 16 per cent. The statement from the Belgravia Group, based in the British island ofBloomberg,; Reuters; REUTERS - 393 words
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630 2006-08-22 17 Decaying facilities could add 20% to oil prices in 10 years: analyst Bloomberg [LONDON] BP pic's shutdown of the largest US oil field may be the first of many, as decaying pipelines threaten to add 20 per cent to energy prices inBloomberg - 630 words
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Article, Illustration687 2006-08-22 17 Salarymen are driving Japan's fashion sales Bloomberg [TOKYO] With five years to go before retiring, Sakae Tajima has taken to shopping for Ermenegildo Zegna blazers and Issey Miyake T-shirts. He's among Japan's growing band of choiwaru oyaji or "middleaged men who are a bit bad".Bloomberg - 687 words
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728 2006-08-22 17 Websites process codes faster and also collect consumer demographics NYT [NEW YORK] Advertisers do not always need funny commercials, snappy slogans or catchy jingles to capture the attention of consumers. Often, all it takes are combinations of letters and numbersNYT - 728 words
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403 2006-08-22 17 Bloomberg [SAN FRANCISCO] A 1958 Ferrari driven by racing legends Phil Hill and Richie Ginther was sold for US$5.6l million in Monterey, California, falling short of the record price for an automobile sold at an auction in North America. The Ferrari 412 SBloomberg - 403 words
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AVIATION
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Article, Illustration619 2006-08-22 18 Economy fares for 23 routes up by weighted average of 15% work. Bloomberg, Bernama [KUALA LUMPUR] Malaysian Airline System Bhd, the nation's biggest carrier, raised domestic prices yesterday for the first time in 14 years, giving its low-fare rival Airwork. — Bloomberg, Bernama; AP - 619 words
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295 2006-08-22 18 Bloomberg [WASHINGTON] The US is at least a year from being able to detect explosives in liquids carried by airline passengers, the weapon in a failed plot to blow up US-bound planes from London, the head of a congressional panel said.Bloomberg - 295 words
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289 2006-08-22 18 Reuters (SINGAPORE] Singapore Airlines, whose new Chinese air cargo joint venture was unexpectedly hit by US trade sanctions last week, said yesterday that it is working towards resolving the issue quickly. Great Wall Airlines, in which SIA and Temasek HoldingsReuters - 289 words
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141 2006-08-22 18 Bloomberg [TOKYO] Japan Airlines Corp and All Nippon Airways Co, the nation's two largest carriers, flew more passengers on domestic routes during the peak summer travel period, as the fastest economic growth in over a decade spurred demand. JAL carried 1.46Bloomberg - 141 words
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Article2278 2006-08-22 18 CITY FLIGHT ETA RIGHT ETD SQ493 073S EK3S2 2225 EK404 1405 M***** 2335 Adelaide LM9771 1750 AFKW8 2215 J* 348 6 SQ230 1750 BA7382 2215 "J 2348 1650 5Q492 2335^ AF8067 1850 QF82 2215 f^ 432 2005 BA7381 1850 LH9770 2345 CA Qf81 1850 5Q229 23452,278 words
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Page 18 Advertisements
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Advertisement136 2006-08-22 18 BT/ZUJI Deals of the Week BUSINESS CLASS (from ECONOMY CLASS (from HOTEL (from S) Copenhagen $2,850 $830 $201 Thai Airways Rnnair DESTINATIONS BUSINESS CLASS (from ECONOMY CLASS (from S) HOTEL (from S) WEATHER Ho Chi Minh $538 (Vietnam Airlines) $188 (Vietnam Airlines} $103 R*n Manila $710 (PMippineAirfines) $248 (PNBppineAirfnes) $95136 words
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Page 18 Miscellaneous
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Miscellaneous184 2006-08-22 18 CRYPTIC CROSSWORD DOWN 1 nf 3r iiii +Qr I t Q a beating (4,5) Across: 4 Tide over, 8 Astray, 9 k i 16 Determined man will be not Gauntlet, 10 Pooh-pooh, 11 rw-Dreea p; disheartened (4-4) Hearth, 12 Retainer, 13 Overplay, 2 Cut off commercial break (6) 1g Understood184 words
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SHIPPING
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Article, Illustration590 2006-08-22 19 DONALD URQUHART - Fuel oil seeped into the sea after Israeli bombs struck power utility in July By DONALD URQUHART [SINGAPORE] United Nations' bodies, the European Union and various Mediterranean Sea countries have reached an agreement on a 50 million euro (SslolAP - 590 words
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Article, Illustration447 2006-08-22 19 AFP [ROME] About 10 bodies have been spotted from the air and about 10 other people are feared missing after a second boat carrying would-be immigrants sank off the Italian island of Lampedusa, the ANSA news agency reported on Sunday. Sicilian maritimeAFP; AP - 447 words
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229 2006-08-22 19 Bloomberg [SINGAPORE] Cargo handlers at South Korea's Busan port moved 1.2 per cent fewer containers last month as shipping lines sent more goods through Shanghai and Hong Kong. Busan, the world's fifth-busiest port, processed one million 20-foot containers in July, comparedBloomberg - 229 words
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531 2006-08-22 19 AFP [NUEVA VALENCIA. Philippines] Oil from a sunken tanker is threatening a second island in the central Philippines, officials said yesterday, as a desperate battle went on to contain the country's worst oil spill. Thousands of poor villagers scoured beaches andAFP - 531 words
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299 2006-08-22 19 Bloomberg [SHANGHAI] Cosco Shipping Co, a unit of China's biggest shipping company, had a 46 per cent decline in second-quarter profit as fuel costs rose and cargo rates dropped. Net income fell to 126.4 million yuan (Ss2s million), from 234.1 million yuanBloomberg - 299 words
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288 2006-08-22 19 Bloomberg [LONDON] Shipping billionaire John Fredriksen's Geveran Trading had almost US$lOO million of assets frozen by a South Korean court after it broke insidertrading laws., Cyprus-based Geveran sold a stake of more than 10 per cent in Hyundai Merchant Marine Co to Hyundai HeavyBloomberg - 288 words
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Article273 2006-08-22 19 SGX '000 Aug 21 S$ Vol CH Offshore .0.36 unch 306 ChuanHup .0.33 unch 1229 Cosco Corporation 1.54 -0.06 ***** CWT Distribution .0.64 0.01 237 Ezra Hldgs 2.74 -0.04 207 Freightunks .0.06 -0.01 549 Grand Banks Yacht..- 0.86 unch 24 Java Holdings 1.35 unch 1666 K1 Venture 0.37273 words
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Page 19 Advertisements
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Advertisement141 2006-08-22 19 SINGAPORE/MALAYSIA/COLOMBO TO CHITTAGONG V.V. CHITTAGONG PORT CONGESTION SURCHARGE j A review of the current situation at Chlttagong Port was carried out with the Chlttagong Port Authority (CPA) on 15 and 16 August 2006. j In view of the improvement in the conditions at Chlttagong Port, the following Feeder Operators have141 words
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EDITORIAL & OPINION
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Article521 2006-08-22 20 EDITORIAL THE campaign by Taiwan's pro-democracy veteran Shih Ming-teh to force President Chen Shui-bian out of office shows that discontent is no longer a limited, partisan issue between supporters of the ruling Democratic Progressive Party (DPP) and the Kuomintang. Clearly, the tide of public opinion is521 words
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Article, Illustration749 2006-08-22 20 PAUL SAMUELSON - THE BOTTOM LINE PAUL SAMUELSON Tribune Media Services GLOBALLY, and also in the United States, the summer of 2006 has been dismal in terms of geopolitics. World economics is a different story. Now is a time of puzzlement. Are we in a stage ofTribune Media Services - 749 words
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Article, Illustration1196 2006-08-22 20 DON LEE - Even Chinese firms have been lured by tax breaks, inexpensive land and cheaper labour By DON LEE LAT-WP HECK that label: "Made in Jfr China" is starting to give mm way to "Made in Vietnam". Taking a page tfrom Beijing's economic playbook, Vietnam is luring makersLAT-WP; AFP - 1,196 words
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Article, Illustration1208 2006-08-22 21 TIGER TONG - City commercial banks must position themselves correctly as competition heats up amid liberalisation By TIGER TONG CHINA'S banking sector is facing a looming deadline. It has to fully open its market to foreign banks in accordance with the WTO agreement soon and competition is aboutSource: China Knowledge Financial - 1,208 words
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Article, Illustration1039 2006-08-22 21 ANDY MUKHERJEE - ANDY MUKHERJEE Bloomberg THE demise of India's fragmented, wasteful and corruption-ridden agricultural market, and its replacement by a modern supply chain, may well be the most significant change in the Indian economy over the next decade. Since the new arrangement will inevitably see localBloomberg; BLOOMBERG - 1,039 words
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Article231 2006-08-22 21 Kelvin Quek - LETTER TO THE EDITOR Kelvin Quek Head,Investor Relations OCBC Bank WE REFER to the commentary, "Analysts not bullish on OCBC numbers" (BT, Aug 18), by Siow Li Sen. We wish to point out the following: Following the results release, three brokers (Citigroup, Bear Stearns231 words
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231 2006-08-22 21 Siew Peng Yim - Siew Peng Yim, Group Financial Controller, HTL International, Singapore 1 REFER to the the article "More than just the numbers" (BT, Aug 18). I need to elaborate to give your readers a more thorough and complete understanding of the deci-sion-making process on major issues/projects231 words
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FOCUS: ART OF SELLING
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Article, Illustration2159 2006-08-22 22 VIVIAN S TOY - Home buyers and sellers as well as their brokers need to brush up on the finer points of negotiating, writes VIVIAN S TOY VIVIAN S TOY NYT IN THE frenzied housing market of the last several years, money did all the talking. Sellers satNYT; BLOOMBERG FILE PHOTOS; AFP - 2,159 words
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Article10676 2006-08-22 23 SGX MAINBOARD Transaction date: Aug 21 52-wk TtJ Last Vol Day Lait Quota Oiv GrYld Nat MCap High low Coda Company Sale ('000) High Low 8uyar Sailer C'vr P/l Smli 4 1 5716 1st Software 2.5 2 2.5 10.1 11 5 6 3148 8Tel«om.„ 7 -0.5 2 010,676 words
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Page 23 Advertisements
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Advertisement35 2006-08-22 23 Trad© from 20% deposit (5 x leverage) on moat stocks Go long or short Competitive financing rates in ail markets Access to Asian, US, Euro stocks Select Exchange TVaded Funds and indices Competitive Commission charges35 words
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Article6225 2006-08-22 24 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In S$ In USS dy yr dy yr dy %yr Ajq 1» Inden Change Change Change Chang* Change Chang* ThgWwtOHMtaPwftnmm 1«B4 00 *.1 1,6 -03 7' «EAfE Preliminary 1®M Q.1 19 j} 5J8 -03 f*« Europe Pr»liminary 1 )&11 016,225 words
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Page 25 Advertisements
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Advertisement1736 2006-08-22 25 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination EVGENIA RDM/ATW/BMN/TLB/NAN HANJIN PENANG LAX/VCW/MZL Loods Singapore, E./W. Malaysia, Indonesia E/w Ma aysio( ndo nesia MIDDLE-EAST SERVICE F.E./S.E.A. SERVICE Destination VOYAGER V DBI/ABU/DOH/BRN/DMM/KWT Destination ASEAN PREMIER DBI/ABU/DOH/BRN/DMM/KWT STX PO TBN INC/BSN PAN DYNAMIC JDH/AQA ASEAN EXPRESS DBI/ABU/DOH/BRN/DMM/KWT Loads Singapore, E./W. Malaysia, Indonesia Loods1,736 words
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Advertisement559 2006-08-22 25 vOOv WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobal.com VESSEL VOY RAMP HEIGHT SIH HC MAO SAV ML ORF TAMERLANE AF625 320Teei 6.4 M 26/ M 20/09 29/09 03/10 07/10 05/10 TAUIOT AF627 400Teei 6.3 M 16/09 10/10 19/10 23/10 28/10 26/10 TAUSMAN AF62B 320h« 6.4 M 27/09 20/10 29/10 02/11 06/11 04/11559 words
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Page 26 Advertisements
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Advertisement891 2006-08-22 26 WAN HAI INTERNATIONAL PTE LTD CR MO: **********0/R %TxKl\ tAfALI uA I I I Aire TEL: *****588 (14 LINES) FAX.-6224U63 \N > WAN MAI I IN(\ Customer Servke/Booiungs Direct Line (1800) *****200 Y hlllhl# PK1TE:(03)3346U88FAX:(03)*****288PH1TH:(04)*****00FAX:(04)*****99 V JOH TH: (07) 25)8923 FAX: (07)*****2) SIR 1H: (031) *****75 FAX: (031) *****)4/ *****05891 words
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Advertisement1206 2006-08-22 26 VESSEL VOY PKI SIN KARACHI PXB BAB NHS DMM BIK KHOW IRAN BAABAEI PCL 81S1 23/08 01/09 04/09 05/09 11/09 13/09 15/09 IRAN TABATABAEI PCI 8153 28/08 27/08 05/09 08/09 09/09 15/09 17/09 19/09 IRAN KORDESTAN PCL 8155 01/09 02/09 11/09 14/09 15/08 21/09 23/09 25/09 I VESSEL VOY SIN1,206 words
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Advertisement903 2006-08-22 26 WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICQ POINTS VESSEL VOY SIN P-KLAHC COLOM6Q N. SHtV* COLOMIO INDIRA GANDHI OIQtW 24 AUG OMIT OMIT 30 AUG QIiEE RAJIV GANDHI 0106W 30 AUG OMIT OMIT 07 SEP I) SEP KOTA PERTAMA YPMO43 05 SEP 06 SEP 09903 words
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THE BUSINESS TIMES SHIPPING TIMES
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5029 2006-08-22 27 This ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone E SIN Dest'n Name Name Number Number SIN Dest'n Name Name Number Number SI 02/09 16/09 Nortrans THOR NAVIGATOR 5/06 *****776/86 0 To ABIDJAN (ABJ) 2003 Cote D'lvoire 23/09 06/10 Nortrans5,029 words
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PROPERTY
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Article, Illustration831 2006-08-22 28 Interest rate hike seen as bid to avert slump in demand for homes Bloomberg [SHANGHAI] China's decision to raise benchmark interest rates and give lenders more discretion over mortgage costs may curb soaring investment by developers while avoiding a slump in demand from home buyers,Bloomberg; REUTERS - 831 words
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258 2006-08-22 28 Bloomberg [LONDON] The price of a home in the UK fell by the most in almost two years this month as the Bank of England raised interest rates. Britain's biggest real-estate website Rightmove said. The average asking price declined 1.6Bloomberg - 258 words
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Article, Illustration516 2006-08-22 29 UMA SHANKARI - Marina IR will benefit existing malls, industry players say in survey By UMA SHANKARI MALLS in the Marina Bay area are expected to benefit from the upcoming integrated resorts (IRs), but Orchard Road needs a revamp to remain a main shoppingFILE PHOTO - 516 words
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449 2006-08-22 29 CLARENCE MICHAEL - By CLARENCE MICHAEL in Dubai ISTITHMAR PJSC, a UAE-based alternative investment house with an initial investment capital pool of US$2 billion and part of Dubai World, has signed an exclusive agreement with Rezidor SAS Hospitality to manage its luxury hotel in Dubai under449 words
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Article, Illustration576 2006-08-22 30 KALPANA RASHIWALA - Deal could prompt more Orchard Road strata commercial buildings to be sold By KALPANA RASHIWALA THE first collective sale of a shopping centre in the Orchard Road area may be in the offing, as majority owners of Ming Arcade on Cuscaden Road576 words
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Article, Illustration411 2006-08-22 30 ARTHUR SIM - By ARTHUR SIM GIVEN the rise in average daily rates at five-star hotels, analysts at Jones Lang LaSalle Hotels (JLLH) believe transactions in the hotel property sector could hit $500 million for the rest of 2006. Already, JLLH says, total transaction activity excluding portfolioFILE PHOTO - 411 words
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Page 28 Advertisements
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Advertisement161 2006-08-22 28 LARGE PRIME RESIDENTIAL DEVELOPMENT SITE: SOPHIA COURT TV JT\ Near to Orchard Road and n\ ft JJ Singapore Management M University Site area approximately Muilm 166,140 sq ft Carlton >\ smu Freehold y Plot rotio 2.1 H IWM mbt /yr 1 w 1 1 Ilw t 1 st *BsEiTvJ p161 words
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Advertisement346 2006-08-22 28 For Sale Cavenagh Rd Cavenagh Mansion Parcel A: 19,813 Sq Ft Clemenceau Court Parcel B: 38.131 Sq Ft 1 p 4 f Possible Amalgamation of: JJ m 3rd Neighboring Land Plot I A Parcel C: 43,150 Sq Ft Orchard Shopping BeH tTmft Ovwhead Bridee to Possible Total of 101.094 Sq346 words
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Advertisement218 2006-08-22 28 PRIME FACTORY FOR SALE BY lENDER Address 118 Pioneer Road Description A 4-storey factory/warehouse bldg with mezz. office basement carpark Tenure JTC 30 yrs from 1 Jan 1996 Land area approx. 173,225 sq ft GFA approx. 426,866 sq ft Tender Closing 7 Sept 2006, 3pm For tender document, please contact:218 words
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Page 29 Advertisements
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Advertisement233 2006-08-22 29 Supermarket C °t«^ DS LOYA resort DAY IKEA RESORT RESORT LOYANG GIANT MTUC SANDY WATER LODGE Cineplex downtown loyang PA lm P 1 EAST M m GOUR-r yg RESORT Eg PA MRT R S Pasir Ris New Town Devt Zone Few mins to NTUC Downtown Plot Ratio 1.4 (up to233 words
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Advertisement266 2006-08-22 29 SUPER LUXURIOUS DEVELOPMENT SITE FOR SALE BY TENDER V Sv I Prestigious location and address Raffles Girls' /<£/ I |5| 7 Ardmore Park JJ L\ Quiet locality, ideal for super |S| yV \o\ .luxurycondominium development Site area approximately nod 60,224 sq ft ity f Ckib /Goodwood J U PkH W266 words
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Page 30 Advertisements
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Advertisement246 2006-08-22 30 IT"-'- 1 FOR SALE BY TENDER I F —£gr—■—l jgUTL, 99-Year Leasehold ?-srzsrlsil Site Area: Approx. 836,424.7 sq ft L l'l_ Plot Ratio 2.1 I 2=l —ss— Near amenities and reputable schools About 0.5 kilometre to Queenstown MRT Station 5-minute drive to Harbour Front Centre 1I f rTTT. m h246 words
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Advertisement223 2006-08-22 30 5 Leisure m *jpj your resort residence... with an island sanctuary clubhouse DFWAPns c h ebate RM o foFeariy blfd Package purchasers* Attractive prices from RM4M.OOO 'Conditions apply. Please enquire with our sales staff for details. *^Tim *"VT, y^rjzxifr ■■■HMMRHH "i "WMl^*! ll IMhnapftfn Located within high growth Southern Johor223 words
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