The Business Times, 14 September 2006

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Total Pages: 32
1 32 The Business Times
  • 24 1 THE BUSINESS TIMES ■■■rth ANNIVERSARY 3D JT A SINGAPORE PRESS HOLDINGS PUBLICATION SINGAPORE 85 cents online at http://business-times.asial.com.sg MICA (P) 099/03/2006 Thursday, September 14,2006
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  • 510 1  -  By CHUANG PECK MING [SINGAPORE] Real pay is expected to increase faster in Singapore than in most other countries next year, thanks to a high economic growth and low inflation. While the average pay is tipped to rise
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  • 52 1 Projected pay above inflation for 2007 for selected economies China 5.0 Indonesia 4.8 Singapore 2A Brazg 2.1 Ireland 2.0 Greece 2.0 Poland 1.7 UK 1.7 Czech Republic 1.6 HongKonq 1.5 Finland 1.5 US 1.3 Sweden 12 France 1.0 Germany -02 Hungary -0.7 Argentina -3 2 Source: Mercer Human
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  • 133 1 STI 2,508.03 (+20.83) ST INDEX FUTURES 2,509.00 (+20.00) SIMSCI 299.60 (+2.36) SIMSCI FUTURES 301.50 (+3.10) MARKETS Wednesday Change KLSE COMP 954.25 >0.55 NIKKEI 225 15,750.05 >30.71 HANG SENG 17,210.04 +134.64 SET INDEX 698.19 ->-10.43 JAKARTA COMP 1,451.080 +15.873 MANILA COMP 2,379.43 +17.77 SEOUL COMP 1,333.13 +5.09 SHENZHEN B
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  • 942 1  -  Bequest could put each of tycoon's 14 children on Forbes' list of 40 wealthiest Singaporeans By CONRAD RAJ [SINGAPORE] A charitable foundation and the youngest son of the late billionaire Khoo Teck Puat have emerged as the biggest beneficiaries in
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  • Page 1 Advertisements
    • 12 1 PRIVATE BANKING Bubble may be building up PAGE 2 rnwt 8 Hi
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    • 177 1 The Business Times and DBS Bank welcome IMF and World Bank delegates to Singapore 2006. ■1 Complimentary copies of The Business Times are available at meeting premises and selected hotels, courtesy of DBS BW— Starting Vikram Khanna Will keep tabs on the *1 BKt~ pp IggjjjT?- IMF/World Bank meetings in
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  • TOP STORIES
    • 855 2  -  New entrants tout bargain-basement fees to buy market share: SG exec By LESLIE YEE [SINGAPORE] Not all of the private banking operations now flocking to Singapore may be able to survive, says leading private banker Daniel Truchi, who is CEO of SG Private
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    • 416 2 Attendance in S'pore exceeds Dubai, Prague THE number of people who have already arrived in Singapore for the annual meetings of the International Monetary Fund and World Bank has easily outstripped attendances for the institutions' recent meetings at other venues. So far, 15,976 participants have registered, exceeding the
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  • Page 2 Advertisements
    • 512 2 Banking Laws and Regulations Dates Financial institutions operate in a dynamic environment that demands prompt Monday, 16 October 2006 responses to changing business trends and to the competition in the market. 1.30pm to 5.45pm Financial institutions also have to cope with fast evolving regulatory requirements that pose regulatory compliance issues
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    • 223 2 people Corporate matchmakers. www.thepeopleatwork.com Asia-Pacific Executive Search The advent of the Integrated Resorts in 2009 is slated to revolutionalise and integrate independent sectors spanning across industries like never before; Spa and Wellness, Hospitality, Airlines, Medical, Leisure, Beauty, Health. Extensive research has been done on how the industries will come together
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  • SINGAPORE 2006
    • 217 3 Bloomberg [SINGAPORE] The number of people who have already arrived in Singapore for the annual meetings of the International Monetary Fund (IMF) and World Bank has easily outstripped attendances for the institutions' recent meetings at other venues. So far 15,976 participants have registered, exceeding
      Bloomberg  -  217 words
    • 880 3  -  SUMMIT WATCH With their mind-boggling reserves, Asian central banks will be pivotal in regional asset markets in the years to come VIKRAM KHANNA Associate Editor THERE'S a new group of investors mostly from Asia who collectively hold more than US$3 trillion in assets and who
      880 words
    • 429 3  -  Many deterred by high room rates, tight security By VEN SREENIVASAN [SINGAPORE] The International Monetary Fund and World Bank's annual meetings in Singapore may have drawn more participants than their previous gatherings in Dubai and Prague, but airlines' inbound leisure passenger numbers
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    • 615 4 It aims to get plan for more quotas for China, three other countries ratified Reuters [TOKYO] Even at its own expense, Japan will push to get other countries to ratify a plan to give China and three other emerging economies a greater
      Reuters  -  615 words
    • 565 4 Bloomberg [NEW DELHI] India's Finance Minister Palaniappan Chidambaram sought the backing of Commonwealth countries for changes in running the International Monetary Fund (IMF), rejecting the "ad hoc redistribution" of voting rights. "It is widely believed that the present 'quota' formula of the IMF is
      Bloomberg  -  565 words
    • 5590 4 UNIT TRUSTS FUNDS A8 Amer income BT USD 8.6/ AB Amer Income A USD ...8.58/ A8 Amer Income 8 USD 8.58/ W, r A,nr0 M t < S P° r ABAmer Income A EUR 6.771 sar Ewope Eqty! 0.9531 M men, e EU R 6.77/ Star Europe Bond 1.18 AB
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    • 466 5  -  AT LEISURE CONRAD RAJ Senior Correspondent Entertainment spots hoping for a bonanza from the annual board of governors meetings of the World Bank and the International Monetary Fund being held here this week have yet to see any action. At
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    • 599 5  -  Interpretation into 9 languages available, along with helplines By MATTHEW PHAN [SINGAPORE] Different languages will be no barrier to communication at the IMFWorld Bank meetings as a combination of interpreters, software and technowizardry will ensure that everyone is plugged in. A
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    • 802 6  -  Countries need to provide youths with basic schooling By VINOD THOMAS THE meetings of the IMF and the World Bank in Singapore this week are being used as an opportunity to highlight investments in education. South-east Asia itself provides striking lessons on the difference basic
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    • 193 6 [SINGAPORE] A cocktail reception was held for business and ministerial representatives from Asia and Latin America at the Four Seasons Singapore last night, ahead of the Latin Asia Biz Forum 2006 today. Seen in the picture are (from left) IE Singapore CEO Chong Lit Cheong, Brunei
      ARTHUR LEE  -  193 words
    • 783 6  -  ASIA INSIGHT World Bank, IMF could help re-direct protesters by refocusing their own raisons d'etre ANTHONY ROWLEY Tokyo Correspondent I m ETHINKS they do 1% #1 protest too much,' I% 11 (to modify Shake--I\M I speare). I am I v I talking of the
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  • Page 3 Advertisements
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  • Page 4 Advertisements
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  • Page 6 Advertisements
    • 89 6 2006 The World's Best Business Schools invite you to A day that can change your life! A unique event to meet an elite group of international business schools Engage in a dialogue with business school representatives and alumni: Participate in interactive panels and MBA fair Match your interests to program
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    • 152 6 I\Jj Singapore 2006 International Monetary Fund W World Bank Group Boards of Governors Annual Mattings JAZMIN ASIAN ARTS Deolet id Fme Indian Aits Specialises in Sculptures, Paintings I Decorative Arts from India By Appointment only Tel: (65) 9789 9346 Email: tom 39 Hindhede Walk-D6 04 5(*****1) and Incorporations in jurisdictions
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    • 64 6 WELCOME ALL DELEGATES J FOR THE IMF I AND WB MEETINGS I 1 I We offer 1 30% off onall oar stocks of Finest Oriental r Carpets with door to door shipping I service worldwide 5 Free Limo service will be provided for appointments CD I Contact: Mr. Jan Jan
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  • COMPANY NEWS
    • 891 7  -  Rotary spreads risks by putting bets in many markets, writes CHUANG PECK MING CHUANG PECK MING HOW the fortunes of Rotary Engineering have turned. The mainboard-listed company started in 1972 with a capital of just $15,000, chipped in by five partners fed up with working for
      ARTHUR LEI  -  891 words
    • 639 7  -  HOCK LOCK SIEW By VEN SREENIVASAN LISTED offshore and marine plays have been enjoying significant re-ratings in recent weeks, thanks to their strong order books which have been boosted by buoyant offshore and energy exploration activity. Marine counters like ASL Marine, Labroy Marine,
      639 words
    • 404 10  -  Founding family in talks on competing bid against HLA's takeover offer By MICHELLE QUAH A POSSIBLE multi-million-dollar bidding war is on the cards for Thakral Corporation with the company's founding family looking likely to launch a counter takeover offer for the consumer electronics
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    • 392 10  -  By OH BOON PING SINGAPORE'S equity markets remain attractive, even though economic growth may slow in the second half, says ÜBS Wealth Management Research. ÜBS, which has top calls on Suntec Reit, Olam International and ST Engineering, is positive on the property sector and
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    • 547 10  -  Partners set up 2 online joint ventures in region By WONG WEI KONG SINGAPORE Press Holdings (SPH) and listed Norwegian media group Schibsted ASA yesterday announced a strategic partnership to develop online ventures in the region. The partnership will see SPH and Schibsted cited
      LIM SIN THAI/ST  -  547 words
    • COMPANY BRIEFS
      • 79 10 UNITED Fiber System (UFS) said that discussions with the existing owners of PT Kiani Kertas (PT KK) which UFS is trying to acquire about setting a target completion date are "current and ongoing". UFS said if it becomes apparent that the PT KK
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      • 41 10 HWA Hong Corporation's wholly owned Singapore Warehouse Company has subscribed for 21.5 million placement shares at 35 cents each or a stake of 4.48 per cent in the IPO of Pan Hong Property Group.
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      • 46 10 FERROCHINA said a group of employees has bought 3.2 million shares or a stake of 0.93 per cent from its founding shareholder Lee Tung Hsi at 70 cents apiece, reducing his personal shareholding from 5.27 per cent to 4.34 per cent.
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      • 40 10 CHINA Flexible Packaging Holdings said net profit for the third quarter ended July 31,2006 climbed 4.7 per cent to 42.8 million yuan (S$8.5 million), while revenue grew 16.5 per cent to 251.1 million yuan.
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      • 53 10 BBR Holdings (S), which has received in-principle approval for upgrade to the main board, said its unit Singapore Piling Civil Engineering has been awarded a $12.65 million 30-month contract by the Public Utilities Board to construct a water pipeline from Seletar Expressway to
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    • 355 11  -  Testing of 500 MW plant's equipment and systems has started By RONNIE LIM KEPPEL Energy's 500megawatt cogeneration power plant on Jurong Island is now expected to be ready only in the first quarter of next year, instead of the end of this year.
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    • 580 11  -  By MATTHEW PHAN DIRECTORS walk a tightrope under the latest "negative assurance" amendment to Singapore's listing rules for public companies, although it is not clear how stringently the courts will interpret the amendment. From Sept 1, Listing Rule 705 was amended to include a
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    • 461 11  -  By LESLIE YEE SINGAPORE banks can look forward to returns on equity of 40-50 per cent from extending unsecured loans to customers with annual incomes of $20,000$30,000, says Credit Suisse in a recent research report. Credit Suisse sees potential lending from this area
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    • 186 11 Reuters DBS Asset Management's Shenton Income Fund is betting on Singaporelisted property trusts, because of their attractive yields and a recovery in the domestic property market, a top executive said. Real estate investment trusts (Reits) now account for 6.62 per cent of the
      Reuters  -  186 words
  • Page 7 Advertisements
    • 348 7 *****-7 II i I i The one and only branded residences in Singapore "<HE B I M SHANCMIA 1 W«"** S HOTEL 9 NASSIM NASSJM BaNMMHHHN*| O-aStiEiv) SINGAPORE 1 I I ORCHARD PALAIS S TANGS il BOTANIC GARDEN HOTEL RENAISSANCE i* PLAZA *4 iNMHHMHHNMMMHHMMMHHMHHHMMBNNMMHMBMIMNNNHMMpiMataM* V JH mm M jmL 1
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  • SINGAPORE MARKETS
    • 555 8  -  STOCKS Overnight rally on Wall St also helps sentiment; index owes bulk of its rise to DBS, Hongkong Land and SingTel R SIVANITHY Senior Correspondent HAVING dropped 22 points on Monday and Tuesday, the Straits Times Index (STI) yesterday bounced 20.83 points to
      Source: Bloomberg  -  555 words
    • 980 8 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Sep 13 and earlier) Subsantial Mo of Price SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Stock Date Director Sell '000 Shr ('000) 000 Metro Hldgs 13-Sep-06 Ong Hie Koan *Buy 1000 0.77 *****0 29.77 *****0 29.93 Metro Hldgs 13-Sep-06 Ong
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    • Article, Illustration
      887 8  -  Compiled by UMA SHANKARI Wilmar International Sept 13 dose: $1.13 CREDIT SUISSE, Sept 13 WE are initiating coverage of Wilmar International, with an "outperform" on a target price of $1.50, a potential 46 per cent upside Wilmar is the largest palm oil refiner in Indonesia with a ferocious
      Source: Bloomberg  -  887 words
    • 540 8  -  CURRENCIES LARRY WEE Senior Correspondent THE US dollar yesterday held on to most of this week's gains and even rose further in some cases despite overnight news of a record July trade deficit of US$6B billion, but Asian units besides the Japanese yen
      Source: Reuters  -  540 words

  • STOCK FOCUS
    • 1285 9  -  More brokers are taking notice of this ECP service provider, which has won mgjor contracts at home and hopes to bag some in Mid-East, writes TEH HOOI LING TEH HOOI LING IT IS often the case in the movies or in an orchestra that
      FILE PHOTO  -  1,285 words
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  • Page 11 Advertisements
    • 55 11 Since 1856, we have focused on bringing new perspectives to our clients. Understanding the past, but shaped by the future. Always looking at opportunities and challenges from a visionary point of view. Considering from the outset our clients' goals. Because our sole ambition is to help maximize their potential. www.credit-suisse.com
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  • SINGAPORE NEWS
    • 537 12  -  It offers new benchmark $817.66 psf ppr price for 99-year lease plot By KALPANA RASHIWALA LIPPO has set a new benchmark price for condo land on Sentosa Cove. Its top bid of $234.7 million yesterday for the 99-year leasehold Marina Collection
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    • 326 12  -  By UMA SHANKARI A 99-YEAR leasehold hotel site on Bencoolen Street will be up for tender in two weeks, after an unnamed developer made a $36 million bid for the land parcel. The 0.36 ha site has a gross plot ratio of
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    • 610 12  -  This is necessary to sustain industry's growth By JEAN CHUA WHILE there are good prospects for Singapore becoming one of Asia's top wealth management centres, the immediate challenge is to make sure there are enough people with the right skills, the deputy head of
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    • 275 12  -  By LESLIE YEE THE Monetary Authority of Singapore (MAS) yesterday issued draft notices setting out detailed requirements for the proposed policy changes on exposure by banks to single counterparty groups and the establishment of an asset maintenance framework for foreign bank branches. Draft
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    • 200 12 THE role of financial institutions in the changing financial landscape in Asia that will be the focus of the Monetary Authority of Singapore's (MAS) International Advisory Panel when it meets this Sunday, a convenient timing given the IMF/World Bank meetings here. Chaired by
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    • NEWS ROUNDUP
      • 58 12 THE Lee Kuan Yew School of Pubhc Policy will hold its scholarship award ceremony on Sept 19. The ceremony will be attended by the chief executive officers of CapitaLand, OCBC Bank and Standard Chartered Bank, sponsors which have announced $400,000 worth of scholarships
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      • 68 12 NANYANG Technological University (NTU) has appointed Lee Sing Kong director of the National Institute of Education (NIE) as part of a process of leadership renewal, with effect from Nov 1. The university said that Prof Lee is expected to lead the institute
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      • 76 12 MINISTER for Education and Second Minister for Finance Tharman Shanmugaratnam will be in Hong Kong today for the first leg of the third Asean Finance Ministers' Investor Seminar. The seminar aims to promote investments into the region. The second leg
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      • 50 12 FAST-food chain Burger King Corporation was awarded the International Headquarters Award by the Economic Development Board on Monday. The company said the award was in recognition of its establishment of a centre of excellence in Singapore and operational expansion in the Asia-Pacific region.
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  • Page 12 Advertisements
    • 53 12 mmkW'- A WSM flk w m mHH SB— L Jfi Rjk. V mm y I I I' 4 :i «i it u V ■< rj -I 11 J |i OCTOBra NOW! ,Meant To Be Swallowed) wv 1 Get your copy of Maxim at Buzz Kiosks and receive 3 bottles of
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  • SINGAPORE INTERNATIONAL
    • 1473 13  -  Singapore's food manufacturers can target Asian immigrants as well as health-conscious Europeans, reports CHUANG PECK MING CHUANG PECK MING THE swelling number of Asian immigrants in Europe may count as a loss of talent not just for Asia, but also for Singapore. Many of the
      FILE PHOTO  -  1,473 words
    • 353 13 MENTION Koka, Sanwa and Yoodle instant noodles and you bet Irish eyes are smiling. Indeed, consumers in Ireland have voted noodles by Singapore-based Tat Hui Foods the No 1 instant noodles in the country. No small wonder. "Tat Hui has been doing business
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  • Page 13 Advertisements
    • 144 13 I 1 2 hhrb Vietnam's robust economic performance and growing domestic affluence in racentyears have 5 infrastructure services companies explore business opportunities In as I Estate to both Hanoi and Ho Minh City Mission Highlights |s|; •>! j| Briefings by provincial authorities on their development plans and investment opportunities for
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    • 14 13 r 13 ENTERPRISE THE BUSINESS TIMES SINGAPORE flnpyort toyoufayC Stagapoi* and Ttw Tlm&. SStag^antkoli
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  • MALAYSIA/INDONESIA
    • 638 14  -  It reportedly asked for RM6Om which the government feels is too high By S JAYASANKARAN in Kuala Lumpur AIRASIA is in dispute with the Malaysian government over the level of subsidies it is paid to provide an air service to small airports in
      AFP  -  638 words
    • 467 14 Reuters [SINGAPORE] Palm oil prices are likely to rise 10 per cent by early next year as surging world demand for biodiesel is expected to increasingly reduce inventories in top producer Malaysia, a leading analyst said yesterday. Countries such as Indonesia
      Reuters  -  467 words
    • 231 14 Reuters [JAKARTA] Indonesia's state oil company, Pertamina, has delayed plans to issue at least US$5OO million of bonds until next year, awaiting the completion of a government audit on the firm, a company official said yesterday. The bond issue had been expected this
      Reuters  -  231 words
    • 2220 14 vol General CMp -0.57 -0.01 34 Sap13 KM rOOO) Genting 3430 -0.20 1640 George Kent .052 0.02 67 AtMRealty 1.43 unch GHLSyrten* .0.24 unch 4762 Abric 0.32 0.01 65 Globetronta Ted) 331 -0.01 352 ACP Industries -334 0X)1 101 GlomactM 1.05 unch 43 Advance Synergy .0.17 unch CSS
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  • Page 14 Advertisements
    • 1121 14 NOTICES oil free. 1800-289-8822 Email: notices@sph.com.sg I Jets Technics International Holdings Limited (a company incorporated in Bermuda with limited liability) Notice of Annual General Meeting NOTICE IS HEREBY QIVEN THAT the Annual General Meeting of JETS TECHNICS INTERNATIONAL HOLDINGS LIMITED (the •Company") will be held at Casuarina Suite A, Level
      1,121 words

  • INDIA
    • 566 15 Central bank gives both banks time until Sept 27 to consider plan Bloomberg [MUMBAI] Shares of Industrial Development Bank of India (IDBI) surged yesterday after the central bank picked it over 16 rival bidders including ICICI Bank in which Singapore investment company Temasek
      Bloomberg  -  566 words
    • 300 15 Economic Times [MUMBAI] The automotive components arm of Mahindra Mahindra, India's top utility-vehicle maker in which Singapore investment company Temasek Holdings has a stake, is close to buying a European parts firm, a senior company official said on Monday. "It will be
      Economic Times  -  300 words
    • 366 15  -  Govt hopes to save 95b rupees each year with bio-diesel By SIDDHARTH SRIVASTAVA in New Delhi WITH no signs of a respite as oil prices power ahead, and given India's impressive growth, a serious attempt is being made to promote the use of alternative energies.
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  • Page 15 Advertisements
    • 13 15 B| -J| >"" f|| i> ■flMßLiist.#;-' I .M H Etg BOSS HUSO BOSS SELECTION
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    • 127 15 i t■ '■> J^Nphe*^, 7 r I V RKE«*> _LL ImU Jt HviQl MJB tf ENOC is rising in Singapore A now era is dawning fm Emirates National Oil Company (ENOC). a vvb >i:y-ownod Gnv<»nrn.»n! of I.) 1111.11 company fh.it f 11» Sui.j.ipun' one .if !h> wmMs It*. Hut'} itios
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  • GREATER CHINA
    • 367 16 Chipmaker claims Taiwan rival didn't honour accord Bloomberg [HONG KONG] China's Semiconductor Manufacturing International Corp (SMIC), facing a lawsuit by Taiwan Semiconductor Manufacturing Co (TSMC) in a US court over alleged breaches of an agreement, has responded with a suit claiming the Taiwanese company
      Bloomberg  -  367 words
    • 271 16 Bloomberg [BEIJING] China's proposed rules for initial public offerings will help draw companies back home by making simultaneous share sales in Hong Kong and the mainland possible, the securities regulator said yesterday. The government wants companies such as Indus- trial
      Bloomberg  -  271 words
    • 185 16 Reuters [BEIJING] China will formulate a new "happiness index" this year to include living conditions, the environment and salary, state television said yesterday. "The Happiness Index will include ordinary people's feelings towards their own living conditions, such as their income. employment, social welfare and the
      Reuters  -  185 words
    • 37 16 AFP [HONG KONG] A man walks along the waterfront in Hong Kong yesterday. The Hong Kong Observatory issued a warning that Tropical Cyclone Signal Number 3 had been hoisted across the territory. —AFP AFP
      AFP  -  37 words
    • 257 16 Heavy demand spurs quadrupling to 20% of offer Reuters [HONG KONG] China Merchants Bank will quadruple the retail portion of its US$2.4 billion initial public offering to 20 per cent following heavy investor demand, a person involved in the deal said. The country's
      Reuters  -  257 words
  • Page 16 Advertisements
    • 60 16 y CaSAKAE Sakae Sushi welcomes r®^susm nX Q m \aH rsh k, j/z f*' I 1 r\ jfk j m Hk/ L y. w 'dLn wn|i psJ "ill''iti- Nfl < 5CP p n 9f¥MMMnM BmhmSSSB Jfl m <f II I# K I IBL > 444 X I m ri 811
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  • ASIA-PACIFIC/WORLD
    • 619 17  -  US$6b worth of projects to be awarded by year-end By CLARENCE MICHAEL in Dubai SINGAPORE companies can look forward to fresh contracts in the Middle East, especially from Abu Dhabi in the United Arab Emirates (UAE) where nearly US$6 billion worth of construction
      619 words
    • 539 17 Reuters. Bloomberg [TOKYO] Japan's current account surplus grew more than expected in July, government data showed yesterday, as strong gains from overseas investments outweighed a narrowing of the trade surplus due to higher energy costs. The data also showed Japan's exports remained
      Reuters.; Bloomberg; REUTERS  -  539 words
    • 348 17  -  By ARTHUR SIM CHINA'S urban middle class may earn just US$6,OOO-15,000 annually but most choose Europe as their favourite holiday destination. In MasterCard Worldwide's Masterlndex of Travel Survey, 35 per cent of its Chinese respondents said Europe was their top choice for a holiday.
      348 words
    • WORLD WATCH
      • 58 17 AFP [BANGKOK] Thailand's premier Thaksin Shinawatra remains undecided about his political future following upcoming elections, party officials said yesterday. "As of now Prime Minister Thaksin Shinawatra has not yet made up his mind over his political future if his Thai Rak Thai party wins the
        AFP  -  58 words
      • 71 17 Reuters [CANBERRA] Australian newspaper publisher John Fairfax Holdings Ltd said yesterday it could not support planned changes to media ownership laws, further undermining support for the government-sponsored changes. Fairfax, Australia's second largest newspaper publisher, joined Rupert Murdoch's News Corp Australia's biggest newspaper group in
        Reuters  -  71 words
      • 64 17 Bloomberg [NEW YORK] Time Inc, the publishing arm of Time Warner Inc, plans to sell 18 magazines including Parenting and Outdoor Life to concentrate on bigger publications. Operating profit at New York-based Time Inc, the world's largest magazine publisher, fell 11
        Bloomberg  -  64 words
      • 67 17 Bloomberg [DUBAI] Morgan Stanley, the biggest securities firm by market value, received a licence to open a Qatar office and expand in the oil-rich Persian Gulf. The licence from the Qatar Financial Centre will allow Morgan Stanley to start selling investment banking,
        Bloomberg  -  67 words
    • 281 17 AFP [BANGKOK] Thailand yesterday threatened major retailers, mostly foreignowned groups, with punitive measures if they do not suspend expansion plans in a growing row over their impact on smaller businesses. In a meeting with 24 retailers, which included giants Tesco of Britain and France's
      AFP  -  281 words
    • 108 17 Bloomberg [BERLIN] Average global salaries will rise more than inflation next year as faster economic growth boosts pay demands in countries from China to Paraguay, a survey by Mercer Human Resources Consulting showed. Pay will increase 5.9 per cent on average around the
      Bloomberg  -  108 words
  • Page 17 Advertisements
    • 80 17 Race away frQUfr th& ilifc'. i Mllill jjr -A "f MBSm I PP 1 |T fr I Join us at the Singapore Racecourse at Kranji for exciting racing action on Friday, 15 September (first race at 6.30pm) and Sunday, 17 September (first race at 1.45pm). The Singapore Racecourse is easily
      80 words

  • AVIATION
    • 515 18  -  KL set to make decision in next 3 months after feasibility study By YEN SREENIVASAN [SINGAPORE] Malaysia seems quite serious about derestricting its airspace, in particular, opening up the lucrative Kuala LumpurSingapore route to new players, Singapore's transport minister said yesterday. Raymond Lim,
      515 words
    • 441 18 AFP. Bloomberg [LONDON] British defence group BAE Systems reported yesterday a 28-per-cent rise in interim profit while warning that European planemaker Airbus might have to raise extra cash from shareholders. BAE Systems, which is seeking shareholder approval to
      AFP.; Bloomberg  -  441 words
    • 474 18  -  By VEN SREENIVASAN [SINGAPORE] Singapore Changi Airport's Terminal 2 yesterday marked the completion of its 39-month-long upgrading programme. The $240 million facelift involved extensive internal and external design upgrades to the building, including the expansion of the transit area by 2,800 square metres to
      474 words
    • 271 18 AFP [JAKAßTA] Indonesia's government is to inject one trillion rupiah (Ssl 73 million) into struggling flag carrier Garuda, a minister has said. State Enterprises Minister Sugiharto said his office and the Lower House of Parliament had agreed to inject the capital
      AFP  -  271 words
    • 124 18 AFP [BANGKOK] Bangkok's new international airport will help Thailand's tourism revenue double to US$27 billion over the next five years, an official said yesterday. "The new airport will certainly boost the tourism industry in Thailand," Deputy Prime Minister Suriya Jungrungreangkit told
      AFP  -  124 words
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  • Page 18 Miscellaneous
    • 210 18 CRYPTIC CROSSWORD 27 Quick, where it's on your hand!(10) joint (10) YESTERDAY'S SOLUTION DOWN S u u y when I enter Across: 1 Effigy, 4 Aversion, 10 1 ice cathedral (10) Container, 11 Lived, 12 Pensive, 13 1 Issues new jokes (4) 12 Recorder to prepare reports Uprajsei 14 Dwe
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  • SHIPPING
    • 516 19  -  Currently on its first commercial voyage, 'Emma Maersk' will arrive here on Oct 2 By GEORGE JOSEPH [SINGAPORE] The biggest container ship ever built, the Emma Maersk, will dock next month at Singapore's PSA terminals, the first Asian port of call
      AFP  -  516 words
    • 292 19 SGX '000 Sap 13 SS W- Vol CH Offshore ...0.37 i*Kh 289 ChuanHup _....033 unch 513 Cosco Corporation 1.54 004 6192 CWT Distribution 0.60 0.01 4 Ezra Hldgs .2.61 -0.05 370 Freight Ijnks 0.07 0.01 758 Grand Banks Yacht .0.86 unch 0 jaya Holdings 1.40 unch 721 K1
      292 words
    • 207 19 Bloomberg [HONG KONG] Tianjin Port Development Holdings, which raised HK$l.25 billion (***** million) in an initial public offering in May, said its first-half profit more than doubled on China's rising trade. Net income rose to HK$2O4 million from HK575.7 million a year earlier,
      Bloomberg  -  207 words
    • 546 19 They say 3 littoral states' capabilities inadequate for lasting security AP [KUALA LUMPUR] Joint patrols by Indonesia, Malaysia and Singapore are inadequate to secure the Malacca Strait should there be a major terrorist strike and foreign military help should be considered,
      AP  -  546 words
    • 210 19 AP [LOS ANGELES] BP pic said it was working to clean up about 1.000 barrels of gas oil that leaked from an underground pipeline at the Port of Long Beach, near Los Angeles. The leak, first detected on
      AP  -  210 words
    • 288 19  - Singapore's container volumes up 11 y-o-y By DONALD URQUHART [SINGAPORE] With peak season cargo flows in full force, Singapore's container terminals handled 6.7 per cent more containers in August than a month earlier and 11 per cent more than the same period a year ago as China continues to fuel
      FILE PHOTO  -  288 words
    • 247 19 [SINGAPORE] Panama's ambitious U555.25 billion expansion plan for the Panama Canal will have lasting benefit, ac-' cording to a Fitch Ratings analyst. "If handled appropriately, the Panama Canal expansion project should have a long-term, positive economic iippact," said Fitch analyst Erick Campos. The money needed
      247 words
  • Page 19 Advertisements
    • 146 19 softsfiip shipping business software Introducing the New Line Management Integrated Application Suite with Enhanced Features A market leader in developing unique liner \lu| jpinq software solution's for shipping lines and •.}<)'-nt\ coveting all then day-to-day Aork i d»iori« I or>puter iutornation. lh«'.l.itf.t I IMA pnncip^ilisuite'is dewel<4)e<i with the highest quality
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  • EDITORIAL & OPINION
    • 487 20 EDITORIAL THE Singapore Exchange has made some amendments to its listing manual, with most of the changes coming into effect this month. Among the new sub-rules is one which requires a listed company's board of directors to provide a negative assurance on the company's
      487 words
    • 851 20  - G-7 should move with the times —make way for G-20 THE BOTTOM LINE WILLIAM PESEK JR FINANCE ministers from Canada, France, Germany, Italy, Japan, the UK and the US might be tempted to accuse their Australian counterpart of sour grapes. Peter Costello, who has no seat at the table when
      851 words
    • 1589 20  -  During the first four months of 2006, the State Environmental protection Administration reported 49 'major' industrial accidents and illegal pollution discharges By JIM YARDLEY NYT DARK as soya sauce, perfumed with a chemical stench, the liquid waste from two paper mills overwhelmed
      NYT; REUTERS  -  1,589 words
    • 1738 21  -  It's part of the growing pains of rapid growth and restructuring, particularly in the context of an economy transiting from central planning to a market system By, and KHOR HOE EE, TAN KIM SONG THE Chinese banking system has long been criticised by
      AP  -  1,738 words
    • 218 21  -  LETTERS TO THE EDITOR Tan Lye Huat Chief executive officer HIM Governance Singapore THE latest instalment of the Business Times Corporate Transparency Index ("Companies must step up disclosure efforts", BT, Sept 11) was both timely and insightful. The announcement of a new Code of Corporate
      218 words
    • 179 21  -  Denis Distant Singapore I REFEB to the report, "Optus substantially overvalued: Merrill" (BT, Sept 12), and expect Sing Tel to respond stating the facts. I was one of many who at the time of the Optus purchase raised concerns regarding the effect on annual profits
      179 words

  • Page 21 Advertisements
    • 103 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletter@sph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification, Please use temperate language, and bear in mind libel
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    • 1434 21 IO 5j&;? |B|| 0 NOTICES in the matter of The Companies Ad, Cap. 50 And In the Matter of 1) MENARD MARKETING PTE LTD (Company No. *****2458K) 2) MENARD HOUMNGS PTE LTD (Company No. *****2457Z) 3) MAVOTEX PTE. LTD. (Company No. *****0585G) 4) PACC MARKETING PTE LTD (Company No. *****0911W)
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  • 10042 22 SGX MAINBOARD Transaction date: Sep 13 52-Wk Id Last Vol Day Latt Quote Mv GrYW Not MCap Htgh Low Codo Comply Solo (*008) Wall Law Ig Sotof Cw P/t SmS 4 1 5716 1st Software 2.5 +0.5 841 2.5 2.5 2.5 3 10.1 11.5 6 3148 STelecom 7
    10,042 words
  • Page 22 Advertisements
    • 80 22 Welcome to Our online CFD trading service gives you last and reliable access to the world of financial market trading. Make Our City and trade with the piofessionals CI Ds carry a higher <It yr• ;e <)f risk <mi i| >. n- ■< Ih > It. t. kin xm' niity
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  • 5960 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES to local curt to SS to USS dy yr dy yr dy Xyr Sop 12 tnrtw Chooqo Chonqo Otonqo Oiongo Chugo Chongo WortdWdaPWimmarY 1009.7 0.5 41 0.6 13 0.6 7.0 t£Aftft«ftwnaiv 1015-0 0.S 43 0.6 44 0.7 10.1 Europe ftgfafWBfy 1CTU 1.0 6.4
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  • Page 24 Advertisements
    • 1614 24 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination MARITIME PEACE RDM/ATW/BMN/TLB/NAN HANJIN PENANG lAX/VCW/MZL STX PO TBN CAM/NFK/NCX/SAV Loads Singapore, E./W. Malaysia, Indonesia E/w |n(Wia MIDDLE-EAST SERVICE F.E./S.E.A. SERVICE Destination ASEAN PREMIER DBI/ABU/DOH/BRN/DMM/KWT Destination ASEAN EXPRESS DBI/ABU/DOH/BRN/DMM/KWT STX PO TBN INC/BSN BEL ANNA DBI/ABU/DOH/BRN/DMM/KWT ADDU STAR JDH/AQA Loads Singapore, E./W. Malaysia,
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    • 481 24 vtot WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobol.com rasa vor mmp hbght sin uc iuo say im o»f TAIAOOT AH27 4001 M *JM 17/09 10/10 19/10 23/10 M/ 10 26/10 TAUSMAN AF62S 320Tmi MM 02/10 10/10 21/10 01/11 06/11 04/11 TOUMOMG AH 20 4001 ms 6.3 M 07/10 30/10 00/11 12/11 17/11
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  • Page 25 Advertisements
    • 1534 25 WAN HAI INTERNATIONAL PTE LTD at Nft iM9S9»ooo/R \rrrr\ TH:*****588 (14 UNES) WUL*****163 V\\lA WAN HAI I INF\ Service/BockkgjDfredlke-(1800)*****200 Y 11V flnil llfll LIIILJ KL1H:(03)*****U5HUb(03)*****2MfW 1H:W)*****00FAX:(*****4(94 V* JOHIH: (07) *****23 FA* (********** 9410: (031) *****75 FA* Mil) 32*1714/*****05 www wrnihai com fa *714:421) *****00FAX.K81) *****WFUIim: 7163*1/*****1 HUt7)U7* www.wiwmi.tow.lg a)H:)Dtl) <IS7W
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    • 1071 25 IVISSII VOY I WO- I «N I KARACHI I PXI OAO NHS PMM UK KHOR 1 IRAN TABATABAfI PCL 8159 20/09 21/09 30/09 03/10 04/10 10/10 12/10 14/10 IRAN BAAIAEI PCI 1137 24/09 03/10 06/10 07/10 13/10 15/10 16/10 IRAN SATTARI PCI 8160 1 03/10 1 06/10 15/10 1«/10 119/10
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    • 64 25 I P. T. DJAKARTA LLOYD (PERSERO) I I AUSTRALIA FULL CONTAINER SERVICE j E I VOT I SW I fW I Ftl IK I STB I MB I M 1 ImuuutA |03>s|i;/w|it/w|is/wl loi/n oi/nO4/10 IPT Djakarta Lloyd (Singapore) Pto Ltd 1 Operator Code: IX CR NO. **********00 I 10 Anson
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    • 839 25 W tUQifTA: WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICD POINTS vtssa vot aw moanc touxno w. swv* cototmo HOWItAHWIDSt 005SW !2Sg !3Sg 16Sg HSg kotapkwha rfjwiiisg- ?osep _jm Nil! msep HDMAGANOHI OIO7W 26SEP 27S£P 30SEP 03 0(1 07OCT HUMGAWOHI OIO7W 0300" 04OCT ~o7Qgf 10OCT MOO
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 5462 26 this ETA ETA Advartbar Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone E SIN Desfii Dane Nana Number ftmbar SIN DasTn Nana N—a Nonbar Maabar s n nmwww nmwww fl To DUNKIRK (DUK) 2117 France 1 To ABIDJAN (ABJ) 2003 Cote D'lvoire 04/10
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  • BizIT
    • 983 27  -  It will also continue hiring in the region, reports AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY HEWLETT-PACKARD has had its International Headquarter (IHQ) status renewed here for another 10 years. Tom lannotti, HP's new Asia-Pacific MD said the company had decided to continue to site its
      983 words
    • 921 27 NYT [SAN FRANCISCO] Steven P Jobs, Apple Computer's chief executive, concluded a much-anticipated company event on Tuesday with his usual tease, noting that he had "one last thing" to introduce. Then, in an unusual departure from Apple's practice of announcing new products when they
      NYT; AP  -  921 words
    • 301 27  -  By WINSTON CHAI THE Singapore Computer Society (SCS) has started its search for the best and brightest among local IT professionals as part of its annual IT Leader Awards. The accolades are given out yearly by SCS to recognise individuals who have contributed significantly
      301 words
  • Page 27 Advertisements
    • 248 27 fc?SMU SINGAPORE MANAGEMENT UNIVERSITY "Knowledge of accounting has become essential for all who aspire to move up the corporate ladder. Corporate leaders recognise the importance of Accounting as the language of business." Chaly Mah CEO and Managing Partner, Deloitte Touche Singapore There's never been a better time to pursue a
      248 words

  • BizIT FOCUS: LIFE AT THE TOP
    • 1414 28  -  Terence Swee shares how his love for music influenced his success, writes ROLAND LIM ROLAND LIM THINK of a multimedia software firm and images of programmers churning out software code in front of a computer quickly come to mind. But meet Terence Swee, co-founder and chief opportunities
      ARTHUR LEE  -  1,414 words
  • Page 28 Advertisements
    • 50 28 <p y THE POSSIBILITIES ARE INFINITE p|J J Fujitsu recommends Windows"- 1 XP Professional. 6 m 1088 0 a Choice. Lifeßook S7lll is powered by Intel® Centrino® Duo Mobile Technology. Dual-core. LIFEBOOK STYLISTIC DESKPOWER ESPRIMO DO ITIOrO Fujitsu PC Asia Pacific Pte Ltd Sales Hotline: 1800-ASIAPAC (1800-274 2722) Regional network
      50 words
    • 64 28 |,Fujrrsu| 1 Fujitsu PC Asia Pacific 1 B pledges "Built-in 1 I Confidence* for em/ I I product under its brand I name lo reassure users I I of product and service B B| excellence From high B B peftottnte components 'I B to stringent quality control 9 B and
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  • Page 29 Advertisements
    • 540 29 Microsoft OUR PARTNERS HAVE GIVEN US EVERY REASON TO CHEER. Hf Congratulations to all the winners of the 2006 Microsoft Partner Awards! The Microsoft Partner Awards gives us the opportunity to recognise and honour the impeccable contributions our local partners have made in the past year. Their support and expertise
      540 words

  • PROPERTY
    • 420 30  -  Nearby projects such as Park Infinia, Residence Evelyn also selling well By ARTHUR SIM NEW residential developments in the Newton area are proving to be highly popular with one close to be fully sold in just several months. Newton One, launched about
      420 words
    • 639 31  -  Hotel chain expanding presence to Abu Dhabi, Doha By CLARENCE MICHAEL in Dubai QATAR will experience the strongest growth rate in travel and tourism in the Gulf Arab region in the next five years along with Abu Dhabi even as billions of dollars are
      639 words
    • 665 32  -  Tampines outlet will be 1 1½ times the size of Alexandra outfit By KALPANA RASHIWALA IKEA is spending $125 million on its second Singapore store, which is due to open towards the end of the year. The home furnishings retailer is seeking at
      665 words
    • 1735 32 PROJECT NAME/ PROP CONTRACT TENURE BUIU-IN/IAND PRICE PSF STREET NAME TYPE DATE AREA*(SQ FT) (S$'00Q) (S$) District 1 NON-LANDED People's Park Cplx Apt 30/08/2006 99 1 604 350 218 The Sail At Maria Bay Apt 01/09/2006 99 936 1364 1457
      1,735 words
  • Page 30 Advertisements
    • 84 30 At Cuscaden Road n ~r~ Site Area: 12,132 sf (approx) Plot Ratio: 4.2, up to 20 storey Hotel Prime Cuscaden Road Address W&* Sub j ect^ In Prime Orchard Shopping Belt By Expression of Interest *™j~£ Closing Date: 21 September 2006 (Thur) at 3pm For further information, please call INVESTMENTS
      84 words
    • 185 30 BH jiVA Wf*V NiyHMiAiil^^^^^Hsaviiis Rare Investment Opportunity MacPherson vicinity Freehold 9-storey Industrial Building 100% tenanted Land 37,000 sqft GFA 90,000 sqft For more information, please contact: Dominic Peters *****101 /*****638 Edmund Lee *****965/*****631 ElfSeah *****126 *****330 For Lease frail :mkm k* y|i 7"Z. J 5 CSB Ml■ Hifßr»3 UE Print
      185 words

  • Page 31 Advertisements
    • 382 31 NICHE PRIME RESIDENTIAL DEVELOPMENT SITE HO RESIDENTIAL UO DEVELOPMENT SITE Large Prime Freehold Land For Sale Cavenagh Rd cwanaah Mansion Paroe( A 19.813 Sq Ft approx. m Sq R appro* -J' 4 B i M tmmtTmmm* Poealble Total of 57,944 Sq Rappfox. Orchard Shopping-Belt BrMa» to Ptua, Poeafttfe Alienation of
      382 words
    • 299 31 CORNWALL GARDENS Prime Good Class Bungalow Land For Sale I k T i kfc] ij [ji J i>] [ij {cj Expressions of Interest OPTION I I OPTION: I OPTION 3 I OPTION 4 I OPIIONS Freehold Light Industrial Building along Tannery Lane L? '~> f 5^ 77 I 7 /Hr
      299 words

  • Page 32 Advertisements
    • 177 32 f ffi Jones Lang WJ LaSallf 21 For Sale by Tender Plot 1:17,905 sq ft (approx) Option to purchase individual plot or >n t JBHBjKI Limited supply of GCBs in Tanglin Hill i Close proximity to Orchard Road ,-<^/ Along Coronation Road West Land Area: 25,429 sq ft (approx) Wide
      177 words