The Business Times, 30 August 2006
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2006-08-30
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The Business Times
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Title Section21 2006-08-30 1 THE BUSINESS TIMES BOARD Wednesday, August 30,2006 SINGAPORE 85 cents online at http://business-times.asial.com.sg A SINGAPORE PRESS HOLDINGS PUBUCATION MICA (P) 099/03/200621 words
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656 2006-08-30 1 UMA SHANKARI, WEE LI-EN - BT exclusive Court of Appeal to decide if advertising, promotion expenses can be deducted from rental income By UMA SHANKARI, WEE LI-EN [SINGAPORE] Millions of tax dollars hang in the balance as mall operators await a decision by the Court of Appeal on whether656 words
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Article133 2006-08-30 1 STI 2.***** (+28.28) ST INDEX FUTURES 2,455.00 (+28.00) SIMSCI 292.45 (+3.70) SIMSCI FUTURES 292.90 (+3.70) MARKETS Tuesday Change KLSECOMP 953.22 >2.26 NIKKEI 225 15,890,56 +127.97 HANG SENG 17,083.28 +160.99 SET INDEX 686.24 +4.17 JAKARTACOMP 1,432.93 +14.93 MANILA COMP 2.302.69 +4.11 SEOULCOMP 1,344.61 +16.72 SHENZHEN B 291.48 -0.17 MUMBAIIND133 words
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Article, Illustration641 2006-08-30 1 LESLIE YEE - Billings growth hit 16.8% in first half of this year By LESLIE YEE [SINGAPORE] Wider acceptance and use of credit cards amid buoyant economic growth has driven an increase in billings that has made card issuers bullish about future growth.641 words
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Advertisement42 2006-08-30 1 iL IMF/WORLD BANK |p MEETING Bringing the world to Singapore page 19 BT ONLINE BT print subscribers get free access to the Business Times Online. To activate your account log on to http://business-times.asial .com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838.42 words
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Advertisement31 2006-08-30 1 COMMENTARY M-Flesx saga: a comedy of errors PAGE 6 v sy 8 Hi PROPERTY wL,M Simon Cheong on why high-end homes in Orchard Road area will reap good gains PAGE 431 words
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Advertisement123 2006-08-30 1 GLOBAL PROPERTY 01 Residential boom is ending: economists HI PAGE 15 F r Turn on under our NEW International Mortgage Service Financing, refinancing* or •qutty release of residential properties In Qmat Britain, Spain, Franca, New Zealand, Hong Kong, wphwwwhw^i Singapore and selected location! in USA, Canada and Australia fait «8H123 words
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Advertisement10 2006-08-30 1 EXEC MONEY Can we all retire by 2015? PAGE 2810 words
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TOP STORIES
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556 2006-08-30 2 CHUANG PECK MING - Combination more competitive for manufacturing and distribution than even China By CHUANG PECK MING [SINGAPORE] Johor and Singapore offer investors a winning combination that is more attractive than moving to China, Trade and Industry Minister Lim Hng Kiang said yesterday. And Malaysia's556 words
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Article, Illustration492 2006-08-30 2 CHEN HUIFEN - Philip Ingham will be IMCB principal investigator By CHEN HUIFEN [SINGAPORE] Singapore bagged another top scito aid itg fctfge biomedical research effort, adding to the secorid wave of eminent researchers it has drawn since late last year. Philip Ingham, an authority on developmental492 words
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Article688 2006-08-30 2 Strong gains seen for top-end homes in Orchard Rd corridor HIGH-END residential rents and capital values in the Orchard Road "corridor" are set for significant gains in the next 18-24 months amid a shortage of such property, says upmarket residential developer SC Global Developments' chairman and CEO Simon688 words
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Article, Illustration618 2006-08-30 4 KALPANA RASHIWALA - Simon Cheong: Shortage looms as enbloc properties get torn down By KALPANA RASHIWALA [SINGAPORE] High-end residential rents and capital values in the Orchard Road "corridor" are set for significant gains in the next 18-24 months amid a shortage of such property,618 words
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Article, Illustration590 2006-08-30 4 LESLIE YEE - By LESLIE YEE [SINGAPORE] Unlike many financial institutions, National Australia Bank (NAB) is not keen to make acquisitions in Asia, says its chairman Michael Chaney. "Asia is not part of a major growth strategy," Mr Chaney told BT during a visit toARTHUR LEE - 590 words
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215 2006-08-30 4 Reuters [SINGAPORE] Singapore's Chartered. South Korea's Samsung Electronics and IBM of the United States expect to begin commercial production of next-genera-tion 45-nanometre electronic chips by the end of 2007, the companies said in a joint release yesterday. These chips, which will be usedReuters - 215 words
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Advertisement28 2006-08-30 2 Heartiest Congratulations to 1 Mdm Wong Huey Fang Amy 1 Son being conferred the 1 Public Service Medal 2006 1 Best Wishes from 1 Hi-P International Limited 128 words
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Advertisement276 2006-08-30 2 people Corporate matchmakers. Www thepeopleatwork com Asia-Pacific Executive Search °r\ Wllllilllllil mavenalliance ASEAN AML/CFT Laws and Regulatory KYC Best Practices 26 to 27 September 2006, Singapore by Tan Sin Liang i The first-ever authoritative workshop on the AML/CFT Laws and KYC regulations/guidelines in ASEAN countries (including Singapore, Malaysia, Indonesia, Thailand,276 words
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Advertisement27 2006-08-30 2 Joining forces? Announce the good news. i Call 1800 289 8822 or i email notices@sph.com.sg to book your corporate notice in our newspapers now. MAT 3 NOTICES27 words
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Advertisement185 2006-08-30 3 g«3§. f <^»r a <» t m*. v' e Vw r I A- <%T m i?f ,i "ft i-X- t nf *r ,r -5.. JmJ* J$L mm v I? 4~* -*fi *tL JS :V s Ik r 5 k/A 1 h&ml. ,**r i f|sw** V L~jt> ¥#> >• V jS185 words
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Advertisement57 2006-08-30 4 I mi 11 |i I 1 I 1 I m v H S I I B S S I H| m M B B M I H fl» J ft R B 8 1 ■I a B BJi U P fr^S'..JM I E C v" s ,>*s®» v sli For57 words
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Advertisement91 2006-08-30 4 New Revolutionary Office Chairs With Automatic Synchro Lumbar Support Features •mm "W The Office I i Aluminium back support frame Wire control synchro mechanism Adjustable armrest Separate lumbar support Adjustable seat depth Separate headrest camber a I The Futuristic Office Mesh Chair 3 A new concept in seating comfort. Maximum91 words
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Advertisement1217 2006-08-30 5 Trust I HH *J I"J if i ||1 H (Consttutod n Ihe Repubfec of Sngapore punuant to a deed dated 29 October 2001 (at amended)) mmbm* mW Vv] l■ I aJ pj I■! cowkmmu. wb mi■» n IHB H mWzzzzzz jEggyw 3 *fr mMmZZZZmi r WS-XjpWjf^frtffi'^/O 'MP~IMi w??if i 11,217 words
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COMPANY NEWS
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Article, Illustration520 2006-08-30 6 CONRAD TAN - BIO-ENERGY RUSH It aims for firstmover advantage with large-scale fuel production By CONRAD TAN PALM oil producer Wilmar International is rushing to build three palm biodiesel plants in Riau, Indonesia, in a bid to corner the lucrative biodiesel market before competitors520 words
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353 2006-08-30 6 RONNIE LIM - By RONNIE LIM SESDAQ-LISTED China Enersave is out to get a headstart in that country's fledging biomass power sector, with plans to build a third plant costing 250 million yuan (Ssso million) in an industrial park in Changyi, Shandong. The company announced the move353 words
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627 2006-08-30 6 CONRAD RAJ - HOCK LOCK SIEW By CONRAD RAJ THE recent goings-on between two companies controlled by WBL Corp seem like a comedy of errors. First, WBL's American subsidiary, Nasdaq-listed Multi-Fineline Electronix Inc (M-Flex), decided that it had made a mistake in making a bid627 words
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Article, Illustration476 2006-08-30 7 CHEW XIANG - Firm's revenue for this financial year jumps 239%; net profit down 12% By CHEW XIANG ADVANCE SCT (ASCT), which announced its financial results yesterday, said it is building one of the biggest copper refineries in the world in Singapore. The planned 130,000-square-feet copper476 words
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643 2006-08-30 7 AMIT ROY CHOUDHURY - By AMIT ROY CHOUDHURY A NEW report on the Internet Protocol TV (IPTV) market says that if Sing Tel launches its own IPTV services, it will allow the telco to better compete against Star Hub's aggressive triple-play strategy of offering pay643 words
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489 2006-08-30 7 MICHELLE QUAH - By MICHELLE QUAH THE chief executive of integra2ooo Ltd has hit back at the group of shareholders who removed him from the company's board last week by calling on the Securities Industry Council (SIC) to investigate their actions. Kwok Kah Kie told BT489 words
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Article, Illustration478 2006-08-30 9 WONG WEI KONG - CORPORATE RESULTS It expects better performance in FY2007, with slew of new products By WONG WEI KONG HEALTHCARE company Eu Yan Sang International yesterday reported a dip in fourth-quarter earnings as revenues remained flat. Eu Yan Sang, which has its core focus inFILE PHOTO - 478 words
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Article, Illustration307 2006-08-30 9 DBS Group Holdings said yesterday Amy Yip will take over from Randy Sullivan as chief executive officer of DBS Bank (Hong Kong). Mr Sullivan, 58 next month, retires on Sept 30 and Ms Yip takes over on Oct 1. Ms307 words
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COMPANY BRIEFS
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34 2006-08-30 9 KARIN Technology's net profit for financial year ended June 30 rose to HK$3O.B million (556.2 million) from HK$26.l million. Revenue dipped 1.5 per cent to HK$l.l billion.34 words
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39 2006-08-30 9 810-TREAT Technology reported a 42 per cent decline in net profit for the year ended June 30 to 189 million yuan (5537.2 million). Revenue rose 16.5 per cent to 1.46 billion yuan.39 words
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50 2006-08-30 9 SINGAPURA Finance's net profit for the full year ended June 30 plunged 70 per cent to $4.7 million. It said profit fell mainly due to the one-off write-back of general provision in the previous year coupled with the making of prudential allowances for loan losses.50 words
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Article34 2006-08-30 9 PORTEK International posted a 2.8 per cent rise in net profit for its full year ended June 30 to $9.3 million. Revenue rose 53 per cent to 114.6 million.34 words
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28 2006-08-30 9 FRASERS Centrepoint Trust (FCT) has put in place loan facilities of $290 million from OCBC Bank and Standard Chartered Bank.28 words
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35 2006-08-30 9 HONG Kong-based PlastoForm Holdings Ltd, which makes speakers for computers and multimedia devices such as iPods, plans to sell 88 million shares in its Singapore initial public offering. Reuters35 words
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269 2006-08-30 9 LESLIE YEE - By LESLIE YEE INDUSTRIAL manufacturing solutions and design specialist Amtek Engineering posted an 11 per cent year-on-year fall in net profit to U554.96 million for its fourth quarter ended June 30. For the full year, its net profit rose 33 per cent269 words
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446 2006-08-30 9 JEAN CHUA - FUND-RAISING EXERCISES Reports by JEAN CHUA CAPITAMALL Trust is selling new units at between $2.23 and $2.32 each to raise gross proceeds of $401 million to help fund its purchase of a 40 per cent stake in Raffles City.446 words
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431 2006-08-30 9 China Printing Dyeing offers 113.4 m shares in IPO A CHINA-BASED company specialising in printing and textile dyeing is raising money in Singapore to fund its new factories, products and expansion into new markets. China Printing Dyeing Holding is offering 5.7 million shares to the public and placing out 107.73431 words
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339 2006-08-30 9 VEN SREENIVASAN - By VEN SREENIVASAN HELPED by one-time gains, semiconductor manufacturing and services specialist Ellipsiz Ltd chalked up a 145 per cent jump in net profit to 5526.1 million for its financial year ended June 2006. The profit after tax and minority interests came on the back339 words
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Advertisement121 2006-08-30 6 I J I! >: 1: j.- I 1 ir i» I f SWpfl s< t-*'i|4^JfJ^^^Pg:,V*fi At ,"'3 i H» :j- J-_ j C/JKi%v- jJS J.^V* 3 §f£a HHH II I laf B| k. i "I\'-^IEOS'* i* "VLV" .r 'if -A£ "Sli i i -JB^^^H^H|^^BHH^HH^B^^^B|HMra^ak l >lliiKMP r %v' F M^MWWK^Rk121 words
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Advertisement63 2006-08-30 7 I» WHf 1 |^^HHP|H||PBBHiH|ißilll^^OT^^^^^^^^^^^H| I{IB I iVfffj MIIH ami £I flu Ifl 3 J 6jr < i y; face Bold exterior. Luxurious interior. And three-row Stadium Seating to accommodate 7, comfortably. It's your world. Take Command. CHRYSLER JEEP AUTOMOTIVE OF SINGAPORE PTE LTD 30 Leng Kee Road Sales Enquire: 647963 words
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SINGAPORE MARKETS
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Article, Illustration529 2006-08-30 8 R SIVANITHY - STOCKS Market activity in second liners centres around low-priced stocks and broker calls R SIVANITHY Senior Correspondent A MONDAY rebound on Wall Street enabled the Straits Times Index yesterday to regain all of the 26 points lost on Monday, while activity in theSource: Bloomberg - 529 words
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Article, Illustration995 2006-08-30 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Aug 29 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ BuyI Shares Per Before After Stock Date Director Sell '000 Shr S {'OOP) POO) Ossia |n tl 29-Aug-06 Goh Ching Lai Buy 29 0.15 ***** 7.08 J 7508 7.09 Ossia995 words
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Article272 2006-08-30 8 UMA SHANKARI - Compiled by UMA SHANKARI iurong Technologies Aug 39 dose: $1.13 MORGAN STANLEY RESEARCH, Aug 29 WE ARE assuming coverage of Jurong with an "overweight" rating and a price target of $1.54, implying 9 times 2007E earnings based on US, GAAP R1 valuation. Despite our long-term concerns with Jurong's272 words
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495 2006-08-30 8 CURRENCIES Reuters [TOKYO] The dollar pulled back from one-month highs against the yen yesterday as investors squared positions ahead of the release of the minutes of the Federal Reserve's meeting earlier this month. The Fed minutes due at 1800 GMT were to open aReuters - 495 words
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Article, Illustration535 2006-08-30 8 YEO KEE YAN - CHART POINT By YEO KEE YAN, chartist at Kelive Research INVESTORS can be divided into three main groups based on their market sentiment: The naysayers: This group believes that the ailing US housing market will dampen consumer sentiment and spending, which in535 words
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Advertisement308 2006-08-30 9 Hear from Our Panel of Distinguished Speakers: Seminar Coverage: Ken Stick land, Principal, Amp, Australia S Srintvas, Senior Counsellor and M Anand, Bu?ld!no Counsellor, LEED Accredited Green Building hX BuildinB Rat,nfl Sy,t#m Professional, Confederation of Indian Industry, a Review of the Various Green C«-Sohrab}i Godrej Green Buainess Centre, Assessment Systems308 words
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SINGAPORE NEWS
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600 2006-08-30 10 NANDE KHIN - Three centres to be set up initially to offer tech advice in key industries By NANDE KHIN SMALL and medium-sized enterprises (SMEs) yesterday received a boost with the launch of a $150 million Technology Innovation Programme (TIP). Spearheaded by Spring Singapore, the600 words
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Article, Illustration372 2006-08-30 10 UMA SHANKARI - By UMA SHANKARI PROPERTY market watchers say a 1.36-hectare site for sale in Little India could eventually be home to another shopping centre just metres from the tour-ist-friendly Mustafa Centre. The Urban Redevelopment Authority (URA) said yesterday that the reserveSauce: LRA - 372 words
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208 2006-08-30 10 NTUC aims to become everything to everyone, according to its Labour Movement 2011 vision. In its newsletter NTUC This Week, to be published on Friday, NTUC's vision is "to be a labour movement for all collars, all nationalities and all ages". It says that208 words
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234 2006-08-30 10 SOPHISTICATED infrastructure alone is not enough to ensure good healthcare delivery, Minister of State for Health Heng Chee How said yesterday. Rather, harnessing the value of all the professions within the sector will be key to a more effective management of healthcare services. This234 words
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590 2006-08-30 10 CHUANG PECK MING - By CHUANG PECK MING THE Swiss were the only major foreign investors to cut ba<?k in Singapore in 2004. But even though their direct investment slipped to $16.4 billion, from $16.94 billion in 2003, it earned the second-highest return of 32.9 per590 words
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346 2006-08-30 10 WEE LI-EN - By WEE LI-EN SINGAPORE is the thirdmost popular destination in the Asia-Pacific, according to Zuji's online travel report for the second quarter of this year. Bangkok was No 1 and Hong Kong No 2 the same as last year. Singapore, which ranked fifth346 words
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256 2006-08-30 10 MASTERINDEX of Travel has forecast a double-digit year-on-year growth in outbound travel in the region for the second half of 2006. According to a Masterlndex of Travel report, released by MasterCard Worldwide, the Asia-Pacific markets will continue to see steady growth in outbound travellers.256 words
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Advertisement28 2006-08-30 10 H Lianhe Zaobao m I Popiah A IsamGoi vl I shifts his focus I I water, I I treatment I I industry 44 ft' yH IlilSMl I I28 words
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Advertisement76 2006-08-30 10 i -.rm h rv Over 500 Locations Worldwide II Ask us about Corporate, Individual or Group Instruction. I I Calßeifitz t0day6733 a 7472 or visit www.beritz.com.sg I SOI Orchaid Road Hoso3WWheek)ck Place Smgapom23BBBo^ Residential Land Freehold Site in Braddell Heights Estate Prestigious Address, Land: 6180 sq ft Plot Radio: 1:476 words
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ECONOMY WATCH
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Article, Illustration591 2006-08-30 11 But it's still home to more than two-thirds of the world's poor AP [BUSAN, South Korea] Economic growth in China and India has dramatically reduced the number of people in Asia subsisting below the poverty level of US$l a day,AP; AFP - 591 words
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306 2006-08-30 11 It asks developed countries to make big contributions AFP [BEIJING] China is willing to help push for a resumption of stalled global trade talks but also wants the developed nations to make "substantial" contributions to that end, the government said yesterday. The remarks,AFP - 306 words
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333 2006-08-30 11 Reuters [FRANKFURT] The European Central Bank (ECB) has raised its gross domestic product (GDP) growth projections for this year and its inflation outlook through to 2007, according to a news report The Financial Times Deutschland said that Germany's strong economicReuters - 333 words
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Article, Illustration545 2006-08-30 11 AP [WASHINGTON] US efforts to choke North Korea's access to international banking have left Pyongyang in "near complete isolation" financially, a top US Treasury Department official said on Monday. US financial restrictions against a Macau bank where North Korea held accounts haveAP - 545 words
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257 2006-08-30 11 Bloomberg [BEIJING] China's central government should rely more on administrative edict rather than a stronger yuan or monetary policy to control surging investment blamed on currency inflows, government analysts said in a research note published in the China Securities Journal. China should keep the valueBloomberg - 257 words
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Page 11 Advertisements
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Advertisement143 2006-08-30 11 The Kellogg-HKUST Executive MBA Program cordially invites you to participate in its activities in Singapore during its upcoming Asian Tour^ |H on Monday, 1 September 2006. Jointly offered by the Kellogg School of Management, Northwestern University and the Hong Kong University of Science and Technology's Business School, the Kellogg-HKUST EMBA143 words
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MALAYSIA/INDONESIA
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482 2006-08-30 12 Khazanah's entry ends row over M'sian healthcare group's ownership RM2.65 a share. Bloomberg [SINGAPORE/KUALA LUMPUR] Shares in Parkway Holdings Ltd and Pantai Holdings rose yesterday after an agreement ending a year-long controversy over the ownership of Malaysia's biggest healthcare service provider. Parkway, Singapore's largestRM2.65 a share. — Bloomberg - 482 words
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Article, Illustration224 2006-08-30 12 But it is not an immediate option, says minister [KUALA LUMPUR] Malaysia may consider nuclear power generation if the price of oil goes over US$lOO a barrel, Science and Technology Minister Jamaluddin Jarjis was quoted as saying in a reportNSTP - 224 words
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337 2006-08-30 12 Reuters [JAKARTA] Indonesia's second-largest telecommunications company, PT Indosat Tbk, reported a 30 per cent decline in its firsthalf net profit yesterday, partly due to higher operating costs. The company, 42 per cent owned by Singapore's ST Telemedia, said net profit fell toReuters - 337 words
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271 2006-08-30 12 Bloomberg [KUALA LUMPUR] Proton Holdings Bhd, Malaysia's biggest car maker, slid back to a loss after two profitable quarters as demand waned for its Gen.2 and Savvy models. Loss in the first quarter ended June 30 widened to RM58.6 million (5525.07 million),Bloomberg - 271 words
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BRIEFLY ASIA
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59 2006-08-30 12 Reuters [SHANGHAI] China Life Insurance Co, the country's top life insurer, is planning a Shanghai stock listing worth up to US$2.6 billion. China Life yesterday said it would issue up to 1.5 billion A-shares, and a source close to the insurer said the dealReuters - 59 words
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74 2006-08-30 12 Reuters [HONG KONG] Tata Steel Ltd, India's top private-sector steel maker, plans to raise up to US$6OO million through an overseas share sale as the country's stock markets rebound, according to sources. Tata Steel, which said in June it planned to raise upReuters - 74 words
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Article61 2006-08-30 12 Reuters [HONG KONG] Bank of China, the country's second-largest lender in which Singapore investment company Temasek Holdings has a stake, yesterday reported a 28 per cent rise in first-half earnings. The bank said it earned 19.5 billion yuan (Ss3.B billion) in the firstReuters - 61 words
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90 2006-08-30 12 Reuters [HONG KONG] CNOOC Ltd, China's top offshore oil and gas firm, beat forecasts with a 38 per cent jump in first-half earnings after higher oil prices offset a hefty windfall tax payout, and reaffirmed its output targets for 2006. Net oil andReuters - 90 words
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55 2006-08-30 12 Bloomberg [KUALA LUMPUR] Sime Darby Bhd said profit jumped 60 per cent in its fiscal fourth quarter. Net income rose to RM401.6 million (*****.6 million), or 16.3 sen a share, in the three months ended June 30, from a revised RM250.1 million, orBloomberg - 55 words
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88 2006-08-30 12 AFP [KUALA LUMPUR] Budget carrier Air Asia yesterday said its net profits rose by 14 per cent in the year to June thanks to increases in fares and passenger loads. It said profits reached RM 126.94 million (5554.2 million) for the 12 months, comparedAFP - 88 words
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62 2006-08-30 12 AP [BEIJING] China will spend nearly US$6O billion over the next five years to reduce the high death toll in its coal mines and other dangerous workplaces, Xinhua news agency reported yesterday. A government plan calls for reducing overall industrial death rate from 3.85AP - 62 words
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Article2259 2006-08-30 12 VOl GanarriGorp 0-5> unch 59 Aa(2* Ml W- raw) Gaming 1 24.50 uxh 1781 George Kent 040 unch 114 A 4 M Realty 144 0.02 11 GHLSystemi 1 023 unch 975 Abrtc 031 -0.01 7 Globetrania Tech X38 -0.01 3497 ACP Industries MO unch 54 GlomacBhd 1.07 XXI2,259 words
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Page 12 Advertisements
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Advertisement369 2006-08-30 12 IN THE MATTER OF THE COMPANIES ACT, CHAPTER SO BMQ SINGAPORE PTE LTD COMPANY REGISTRATION NO.: ********** (IN MEMBERS' VOLUNTARY LIQUIDATION) At an Extraordinary General Meeting of the Company convened and held at 1 Scotts Road, #1705/07 Shaw Centre S (*****8) on the 22nd day of August 2006, the following369 words
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Advertisement18 2006-08-30 12 H lib."•' /> I I I§RHgHH| S9 J l| *9p Sunset Boulevard with Jane Boey spm Bpm Mon Fri18 words
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GREATER CHINA/INDIA
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Article, Illustration97 2006-08-30 13 [MACAU]Las Vegas Sands Corp chairman and CEO Sheldon Adelson (left), his wife Miriam and Las Vegas Sands Corp president and COO William Weidner at a ceremony at the Venetian Macau Resort-Hotel construction site to mark the arrival of legendary Angel Gabriel's statue (in the background), whichAFP - 97 words
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424 2006-08-30 13 SIDDHARTH SRIVASTAVA - By SIDDHARTH SRIVASTAVA in New Delhi INDIA Inc is on a global shopping spree with the country's foreign direct investment (FDI) outflows surpassing inflows. June saw the closure of 10 crossborder big-ticket deals with a combined transaction value of US$l.5424 words
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459 2006-08-30 13 It fears their issue may make problem of. managing yuan even more difficult [BEIJING] China's State Council is blocking bond sales by three government agencies, totalling as much as US$3 billion, on concern that they would make the problem of managing the yuan459 words
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323 2006-08-30 13 Reuters [SHANGHAI] Industrial and Commercial Bank of China still plans to raise about US$2O billion through its initial public offering in Hong Kong and Shanghai, despite difficulties experienced by some other recent Chinese IPOs, the China Securities Journal reportedReuters - 323 words
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296 2006-08-30 13 AFP [SHANGHAI] China will raise the foreign currency deposit reserve ratio for commercial banks by one percentage point, in a move aimed at tightening credit and steadying the currency, state press said yesterday. The central bank has notified commercial lenders of the increaseAFP - 296 words
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Page 13 Advertisements
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Advertisement190 2006-08-30 13 Diners Club Card ™«64i6 0980 A World of Exclusive Privileges Treats Diners Club J- Vl vlnternational' i. www.dmers.com.sg BM m M' 4ibi AHSmI ffMOwr Wi H»Mi; Exclusively for Diners Club Cardmembers: 1-for-l main course for lunch I 20% off total bill for dinner I (On flood only VMM from Monday*190 words
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Advertisement38 2006-08-30 13 mm maiTitif m Bl s 40K -150K per square feet 1000 amp Electrical Supply e For Leaee or Sale StreetmergeSdnßhd \r k iaßr w^ W th lolm^ n 2pm Ji Mon W' flf on k fM Hk »Ek <■38 words
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ASIA-PACIFIC/WORLD
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525 2006-08-30 14 LATEST US DATA Concerns about housing market, job prospects weigh on consumers Bloomberg [WASHINGTON] Confidence among US consumers fell to a nine-month low in August, rattled by a slowing housing market and concerns about job prospects, a private survey showed yesterday. The ConferenceBloomberg - 525 words
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230 2006-08-30 14 HONG SOON JAE - It aims to explore trade and investment opportunities in the region By HONG SOON JAE A SOUTH Korean Business Development centre opened here yesterday with the aim of exploring new trade and investment opportunities in South-east Asia. The centre has attracted nine Korean230 words
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WORLD WATCH
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70 2006-08-30 14 Bloomberg [MUNICH] Bayer AG, Germany's largest drugmaker, said second-quarter profit rose 11 per cent, helped by sales of aspirin and diabetes treatments. Net income at the Leverkusen-based company, which bought rival Schering AG for 17 billion euros (5534.3 billion) last month,Bloomberg - 70 words
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81 2006-08-30 14 Reuters [MANILA] Philippine conglomerate SM Investments Corp launched a 44.2 billion peso (Ssl .4 billion) offer for full control of Equitable PCI Bank yesterday, the country's biggest banking bid in seven years. SM Investments; which already has a 30 per cent stake in theReuters - 81 words
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64 2006-08-30 14 LAT-WP [NEW YORK] The brokerage unit of Prudential Financial Inc admitted on Monday to criminal wrongdoing and agreed to pay US$6OO million to settle government investigations that its brokers engaged in improper mutual-fund trading. Brokers in Prudential's securities unit went to great lengths toLAT-WP - 64 words
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87 2006-08-30 14 Bloomberg [NEW YORK] US bankruptcy filings fell to the lowest level in five years after a federal law made it harder for individuals to seek protection from creditors. About 1.48 million personal and business bankruptcies were filed in the year ending June 30,Bloomberg - 87 words
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49 2006-08-30 14 AP [SYDNEY] Australian shopping mall operator Westfield Group reported yesterday a 120 per cent increase in first-half net profit to A 53.4 billion (Ss4.l billion) for calendar 2006. A massive A 52.7 billion boost in property revaluations helped drive the result. —APAP - 49 words
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Article5449 2006-08-30 14 UNIT TRUSTS FUNDS AS Airier Income A USD 8.55/ ABAmer Income BUSO .8.5 V AB Amer Income A EUR 6.68/ ABM Amro Asset Mgt (S pore) AB Amer Income B EUR 668/ Star Europe Eqty!" 0.963/ ab Europ Income Opp AT SGO 15.16/ Star Euope Bond 1. 93/ AB Europ5,449 words
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WORLD
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649 2006-08-30 15 NEIL BEHRMANN - Rich foreigners snapping up prime properties in several cities By NEIL BEHRMANN in London GLOBAL property prices have mostly risen in the past twelve months, but a growing number of economists fear that the real estate boom is coming to an end. In the649 words
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132 2006-08-30 15 AP [SYDNEY] Australian gaming and media company Publishing Broadcasting Ltd (PBL) said yesterday it had received regulatory approval from two Australian state governments for its Macau gaming joint venture with Hong Kong's Melco International Developments Ltd. "Today's decision by the regulators isAP - 132 words
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Article, Illustration382 2006-08-30 15 Reuters [MEXICO CITY] Mexico's national pride, bruised time and again by a steady invasion of US investors and culture, took another blow on Monday when one of its finest tequila makers was swallowed up by an American company. The US$B76 million buyout of Casa HerraduraReuters; AP - 382 words
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Page 15 Advertisements
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Advertisement2944 2006-08-30 15 :*at3 NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg BUY IT SELL IT FIND IT IV Banca di Roma (INCORPORATED IN ITALY WITH LIMITED LIABILITY) CONDENSED BALANCE SHEET (amounts In auroe) Aeeets 31 December 2005 Cash and cash equivalents 692.817,837 Financial assets held for trading 1,404,820,239 Financial assets designated at lair value2,944 words
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AVIATION
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Article, Illustration332 2006-08-30 16 Greater access to travellers' details blocked by EU privacy concerns Reuters [WASHINGTON] The United States needs broader access to information about passengers boarding transatlantic flights that is being restricted by European privacy concerns, yS Homeland Security Secretary Michael Chertoff wrote yesterday in TheReuters; AP - 332 words
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Article2167 2006-08-30 16 HJ6HT ETA fUCHT TO 1855 Qf154 2125 Abu Dhabi SQ456 1300 n MtS88 1910 MtS88 0905 Adalaida LH9771 1750 LH9770 2345 Mg 88 1!!? Q910 SQ230 1750 SQ229 2345 *»B1 «082 0910 Ahwdlbari SQ443 0825 0740 AM81 1625 1C859 0805 SQ406 1855 j LQ4032 2345 Danpasar2,167 words
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620 2006-08-30 16 VEN SREENIVASAN - NEWS ANALYSIS MPL graduates may not be able to cope with real-life crises By VEN SREENIVASAN [SINGAPORE] The International Civil Aviation Organisation (ICAO) will soon introduce a shorter commercial pilots' training course producing more graduates faster to meet the current shortage of pilots worldwide.620 words
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Article, Illustration456 2006-08-30 16 Bloomberg [DUBLIN] Aer Lingus, Ireland's state-controlled airline, plans to sell shares in an initial public offering next month to raise money for new planes as the carrier adds routes to the United States. Aer Lingus, based in Dublin, may raise as much as 500Bloomberg - 456 words
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206 2006-08-30 16 Reuters [NEW DELHI] European aerospace and defence group EADS said yesterday it would invest up to two billion euros (Ss4 billion) over the next 15 years in India in production and research and development (R&D) facilities. India,Reuters - 206 words
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231 2006-08-30 16 AFP [MANILA] The Philippine government will challenge an international court ruling ordering it to return Manila's new airport terminal to its original builders, a presidential spokesman said yesterday. "What is at stake here is the interest of the Filipino people and the sovereign prerogativesAFP - 231 words
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Page 16 Miscellaneous
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Miscellaneous213 2006-08-30 16 CRYPTIC CROSSWORD 1 Control on frontier (6) 12 Give Clinton notice (8) 14 Good daily fare protects his 114 I I I I I heart (10) ——U— 18 Stunning bird with old BH re i 1 Having tost ones shirt on a j rre g U ar (10) Across: 1213 words
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SHIPPING
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Article, Illustration647 2006-08-30 17 Ship owners seek to cut huge insurance surcharge imposed by war-risk status [JAKARTA] Indonesia's shipping industry has demanded that the London market's Joint War Committee (JWC) remove all sea areas in the country from its list of war-risk zones, The Jakarta PostREUTERS - 647 words
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420 2006-08-30 17 Bloomberg [HONG KONG] Shares of China Shipping Container Lines Co had their biggest fall in four months, after the country's second-largest container shipping line's first-half profit plunged 96 per cent on higher fuel costs. The stock fell 8.6 per cent, its biggest one-dayBloomberg - 420 words
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Article869 2006-08-30 17 DAVID HUGHES - STRAIT TALK By DAVID HUGHES IN GENERAL, I don't buy the argument that seafarers are badly treated and exploited by owners, though I do think some administrations, port and flag, treat them very badly. By and large, the international shipping industry does treat it employees869 words
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313 2006-08-30 17 Bloomberg ITAIPEI] Evergreen Marine Corp, Asia's largest container shipping line by fleet may post a profit decline for a third quarter as it charged less to m6ve cargo and paid more for fuel. Net income probably fell 50 per cent to NT$l.6l billionBloomberg - 313 words
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470 2006-08-30 17 Move to be on par with region's competition Bernama [KEPALA BATAS, Malaysia] Penang Port Sdn Bhd (PPSB), the operator of Penang Port, on Monday unveiled its five-year business plan from 2007 to 2012, with a RM6OO million (*****.8 million) expansion programme and upgrading ofBernama - 470 words
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156 2006-08-30 17 Bloomberg [SINGAPORE] Daewoo Shipbuilding Marine Engineering Co, the world's second-largest shipbuilder, said it posted a loss last month because the stronger won reduced its overseas earnings. The company posted a loss of 20.5 billion won (5533.6 million) in July, compared with a profitBloomberg - 156 words
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Article269 2006-08-30 17 SGX '000 «HM W- Vol CH Offshore .0.39 0.02 1723 ChuwtHip .0.32 unch 562 Ccsco Corporation 1.55 0.04 3559 CWT Distribution 0.61 0.01 10 EzraHldgs 266 -0.02 861 .0-07 0.01 418 Grand BanksYadtt 0.86 -0.02 10 JayaHokSngi 134 -0.01 2249 K1 Venture .038 0.01 6192 KeppelCorp 15.10 0.20269 words
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Advertisement10 2006-08-30 17 International Ship Classification Keeping you ISCIasS J at the forefront10 words
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EDITORIAL & OPINION
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531 2006-08-30 18 EDITORIAL THE Greater Middle East region has already endured three major wars in recent times in Afghanistan, Iraq, and Lebanon. Then there is the never-ending IsraelPalestine conflict. At times, it seems that the entire Middle East resembles a volcano that is ready to erupt at531 words
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Article, Illustration1124 2006-08-30 18 MICHAEL R SESIT - One reason is that translating geopolitical risk into an investment strategy can be tricky By MICHAEL R SESIT Bloomberg WHAT you know can help you—unless you ignore it, which appears to be how investors are treating growing risks of war, terrorism and politicalBloomberg; AFP - 1,124 words
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Article, Illustration763 2006-08-30 18 FRANK CHING - THE BOTTOM LINE FRANK CHING THE headlines tell it all. That on the front page of the International Herald Tribune announced "Activist in China sentenced to 4 years; Decision seen as part of a sweeping move to punish dissent". However, the headline763 words
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Article, Illustration1948 2006-08-30 19 YUKON HUANG - One of the highlights of the upcoming IMF-World Bank Annual Meetings is its content-rich programme of seminars. YUKON HUANG of the World Bank talks to a Business Times editorial panel on what the meetings and the seminars have to offer those who attend YUKON HUANG1,948 words
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255 2006-08-30 19 Denis Distant Singapore - Denis Distant Singapore THE SGX trading board accepts bid and offer prices which are not more than six bids away from the last done price or else there is a penalty fee. This seems aimed at generating even more revenue for broking firms255 words
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712 2006-08-30 19 Leong Sze Hian Singapore - LETTERS TO THE EDITOR Leong Sze Hian Singapore I REFER to the article "MOH publishes patients' average hospital bill data" (BT, Aug 23) and media reports that Medisave will be extended to cover general medical practitioner bills for those with chronic illnesses, such as diabetes.712 words
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Article9398 2006-08-30 20 SGX MAINBOARD Transaction date: Aug 29 52-Wk Tel List Vol Day LaftQuote CXv GrYM Nat MCap Wgh low Cod* Comply Sale W- fOOO) M0i Low »ir« Cw HE Sw* 4 1 5716 1st Software 2 unch 371 3 2 2 3 81 IIS 6 3148 rretccom 7 6.S9,398 words
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Advertisement30 2006-08-30 20 .1• I Available At AUDEMARS PIQUET LA BOUTIQUE tSM; 6836 4918 Sol* Distributor Sanriee Centre: AUDEMARS PIQUET (StNQAPORE) PRIVATE LIMITED BP* t 6238 6678 Fa* 6238 6676 internet: h«u7/www. com30 words
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Article5947 2006-08-30 21 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES IslKalcsfT last toWS tdy %ft <*y %yr hug It tnd>» Chang* Q>ang» Ouny Oianpa Chang* Preliminary ***** 12 41 13 21 13 73 lEAftPidmmaiy 10)4.9 -ft! 43 83 55 03 111 furopePrehninary >3612 OB U 01 91 OB 151 Paofc 9121 -19 095,947 words
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Advertisement1523 2006-08-30 22 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination EVGENIA RDM/ATW/BMN/TIB/MAN HANJIN PENANG LAX/VCW/MZL i l Qds Singopore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIPIM-E-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, Indonesia1,523 words
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Advertisement532 2006-08-30 22 w*M „> 1 vßsayvor imwi waiwa m km to w jot SIUnSVENTUtt IS/M IS 12 17/01 20/W 24/00 29/00 31/01 STUITSVBmtK 14/04 IS 12 01/W OUYIA 03 I 5 I 4 I 31/00 [AUSTRALIAN RORQ SnVKI I vKsa/voT I»AMPffn|HBGHTw| la w std wB. mm «r lan I Ifl RUftt/074 SO532 words
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Advertisement1525 2006-08-30 23 WAN HAI MIBtNATIONAL PTE LTD aKkiwsnooot/i VxS\ IAIAU LI AI 11 AirC PICT./»II^DL^ 6 ?18(m226i200 HAI LINES miH:m3IMIMMKmiM23mrM«:Matmi«:M»IWt V JOH IB: (07) 2SIITZ3 HUfc (*****1W71 SUi IB: (031) JW5475 HUt |031> 32VZ714/ 32*1304 www uf..k.i ran en JDM: (Ml) S2S4Ul!*l:|ni> S»CNMM:n4*I/m»l RUk/lUTt wwww o tow -»S a M; (Otl) 41PIB1,525 words
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Advertisement1019 2006-08-30 23 1-jn EASTERN CAR LINER, LTD 1 SPEQAUZE Wl ROUP t, HEAVY UFT UfTO 450 TONS 6ITRA-ASIA SBWIg YQT SW 1 TTf 1 HOQI) PtttW) PNM JKT SU» IO WM «WI MK ASHCKYAE 34 10 Ol/W I 04/W mm ~P —g —ir-Hi/S ~m —B76r-ni7w COSMIC LEADER "IT" 45 M I Ot/W1,019 words
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Advertisement787 2006-08-30 23 m WEEKLY EXPRESS SAIUNG SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AMD WESTERN ICQ POINTS vtssa vot I sw mums colomao ilsheva Colombo miV 6ANDHI 01Q6W 01 Sg OMIT MOT OJff HS2 MTAPBTAMI TPMO43 05Sg 06SfP 09SEP 12SEP ItSEP HOKUMItIDGf OOSSW !2Sg !3Sg 11SP HSg 23Sg itoktam rfwST Msg Msg 23Sg787 words
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Advertisement787 2006-08-30 24 J a laJ W: 65-*****907 Fax: *****917 Nordana (Asia) rte Ltd uiMMMui 70Shot— Way, #21-03MUritooHow Sin|iirto79rig NORTH WEST EXPRESS LINE MONTHLY SERVICe TO WESTERN AUSTRALIA AND ISLANDS OMtS ARE AMIWL DATES I VESSEL VOT Sha—ro FwMrth I Cfshbri I QrirtMwhhH bkwdbflfgs I IHfIZ 23t0 I MSg IOSw Mrtfayw rn ZiSa787 words
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Advertisement546 2006-08-30 24 BW !fc— ff* Sg— WWW WBW 5T751 R7W ssi f?7g M/w _...l* L_-_^EEEEE?EjE ■wMßwir 111 9km 11ZB BM_ Klirn |}4w afli v/i j $m nmntn nr» M) _L_*t/M—L_: L_I3ZjL_I 1 r t nw I "WW I"/" l w 1 'V l I I vissa vot gg r*ai game ownoowc *rp546 words
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Advertisement384 2006-08-30 24 CONVENTIONAL SERVKE LOADING FOR LOADING FOR COLOMBO-RORO COLOMBO BREAtfBULK 5 SEPT 12 SEPT LOADING FOR CHOWAI 13/9/06 LOADING FpR MUMBAI 17/9/06 LOADWG FOR DUBAI, MUMBAI, DOHA 05/9/06 fiai IeLMYHAInfiTTMiTMoiin I (swa if7o) i I OWNS OPERATES THE YOUNGEST FLEET WITH FOURTEEN 7,000 DWT TWEEN DECKERS COVERING I THE ENTIRE ASIA384 words
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THE BUSINESS TIMES SHIPPING TIMES
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6225 2006-08-30 25 This ETA ETA Advartbar Vessrt Voyage Telephone ETA ETA MvartiMr VmmI VoyM* Tiligfcom SIN OmTb Mm Mm Mmrtir SIN Dwfn Mm Mm Numbw Number HNMNMMBHMMNHHHHNMHMMMBMMNNNMMHHHMHHNNNMMi 16/09 28/09 IRISL IRAN BAABAEI PCI 8157 *****144 TO ABIDJAN (ABJ) 2003 Cote D'lvoire 23/09 06/10 Nortrans THOR MERCHANT6,225 words
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MOTORING
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Article, Illustration500 2006-08-30 26 SAMUEL EE - It aims to open 30 outlets in the mainland over the next two years By SAMUEL EE YHI International has branched out into the retail business by launching the first in a chain of alloy wheel and tyres stores in China. YHl's first500 words
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Article, Illustration560 2006-08-30 26 SAMUEL EE - By SAMUEL EE KOMOCO Motors will spend more than $300,000 this year on a showroom upgrade and various model launches as it rides on the momentum of accelerating Chrysler and Jeep sales. The Komoco group, which is better known as the distributor of560 words
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Page 26 Advertisements
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Advertisement29 2006-08-30 26 r* v jk QSr .< 'A i) M 1 I m 1 Wfc MJL, DDo®SfB &L->Vi~ bW mJ a^__m j I mmmmmmmj 'WSSm. 2^rrv^ e BM -v jfm Saift I29 words
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Advertisement283 2006-08-30 26 i ij^ PKT Seminar on the Alternative Investment Market London Stock Exchange As part of the London Stock Exchange, the Alternative Investment Market (AIM) is becoming increasingly popular as an alternative source of funding for small, medium and large scale businesses worldwide. AIM is increasing its presence in taking Asian283 words
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executive Money
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Article958 2006-08-30 27 GENEVIEVE CUA - Insurers are cutting term rates as life expectancies improve and competition drives down prices. GENEVIEVE CUA reports GENEVIEVE CUA INSURERS who have long lamented the extent of under-insurance in Singapore have slashed the cost of pure protection, some by over 50 per cent. The biggest958 words
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Article753 2006-08-30 27 GENEVIEVE CUA - By GENEVIEVE CUA STANDARD Chartered Bank has changed the terms of its Mortgage One home loan scheme, raising the ire of a number of customers hit in recent months with substantially higher interest rates as well. Mortgage One is a scheme where the interest rate earned on753 words
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Article, Illustration772 2006-08-30 28 JOSEPH CHONG - MONEY MATTERS Going by the excellent returns delivered on Singapore's foreign reserves, Singaporeans should all be looking forward to 'retirement' JOSEPH CHONG rAN we all retire by 2015? The recent disclosure of GlC's investment performance in managing Singapore's foreign reserves made headlines in theSource: Dept of Statistics - 772 words
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561 2006-08-30 28 CHET CURRIER - By CHET CURRIER Bloomberg DON'T despair! In these anxiety-ridden times, several mutual fund companies have lately stepped forward with a bold message of hope. The news hasn't received a lot of coverage. You may have missed it in the swirl of negative dispatches concerningBloomberg - 561 words
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Page 27 Advertisements
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Advertisement408 2006-08-30 27 MONEY MATTERS A closer look at Singapore's reserves pg 28 QsV NANYANG V lass technological UNIVERSITY Nanyang Business School Nanyang Executive Programs rAt The Cutting-Edge of Asian Executive Education Berkeley-Nanyang Advanced Management Custom Programj Program VVe also offer corporate in-house training 15-24 November 2006, Singapore programs specially tailored to meet408 words
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Page 28 Advertisements
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Advertisement325 2006-08-30 28 ,y+ r V r;':, m 6 4n v.. FRANKLIN TEMPLETON FUNDS B YEARS IN SINGAPORE JK^Jr r -i 1 >/ v > l^^HliiHH^^^B^^Hßß^lliSl^^^H iJf ii mi" Bt bp 118 9^^V\ KyA- nIL L< iIArIPI BE^f^ THANK YOU FOR YOUR TRUST. I x v.v rt Partnerships and relationships evolve over investment325 words
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