The Business Times, 26 October 2006

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Total Pages: 38
1 38 The Business Times
  • 24 1 THE BUSINESS TIMES online at httrW/hiKinpc<;-tirrw»* a<ial mm cn A SINGAPORE PRESS HOLDINGS PUBLICATION MICA fP) 099/03/2006 SINGAPORE 85 cents Thursday, October 26,2006 1
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  • 694 1  -  MAS reckons Progress Package led turnaround By ANNA TEO [SINGAPORE] Domestic consumer spending, which has been weak for a while, appears to have staged a strong turnaround, thanks perhaps to the buoyant job market of late. The retail sector, for instance, has had several sluggish quarters,
    Source: MAS estimates  -  694 words
  • 132 1 STI 2,714.66 (+23.05) ST INDEX FUTURES 2,714.00 (+23.00) SIMSCI 328.24 (+3.68) SIMSCI FUTURES 327.10 (+2.30) MARKETS Wednesday Change KLCOMP Closed NIKKEI 225 16,699.30 -81.17 HANG SENG 18,157.94 +4.53 SEJ 'NOEX 732.80 +4.27 JAKARTA COMP Closed MANILA COMP 2,678.72 +53.20 SEOUL COMP 1,371.43 +4.93 SHENZHEN B 333.73 -1.28 MUM8AIIND
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  • 570 1  -  By DONALD URQUHART [SINGAPORE] After more than four months of industry rumours, Neptune Orient Lines (NOL) said yesterday it has appointed a new group president and chief executive. Thomas Held, a former chairman and CEO of Euro-pean-based Schenker, one of the world's
    570 words
  • Page 1 Advertisements
    • 42 1 From Japanese chemist •'®E. pVV v PROPERTY Orchard Road is world's 13th most expensive shopping street page 38 FRAUD The man behind HK hedge fund's collapse jailed page 2 LATEST ON US INTEREST RATES: Get the US central bank's decision at http^usiness-times.asial.com.sg
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    • 38 1 JHMMHHHHj ■BM| BizlT |HAH| S'pore firm breaks HHHH into India's TV market HHHIH PAGE 33 A W n A BURNING ISSUE The fires causing the haze needn't happen in the first place. Two experts share page 27 8
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    • 42 1 PESS BUDGET AIRLINE Oasis' maiden flight Hii cancelled page 24 > T v 1 1 1 ti: m I 1 |H fl I B I V A fl fiMaBWM^B THE WIND IN YOUR HAIR HHB v w ferv I iw .JL n^^l H
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  • TOP STORIES
    • 492 2  -  Schmitt diverted US$l94.5m of clients' money into dummy companies By JANE MOIR in Hong Kong THE MAN behind Hong Kong's biggest hedge fund collapse has been jailed for four-and-a-half years for diverting U*****.5 million of clients' money into dummy companies he controlled. Charles
      492 words
    • 448 2  -  Strong spillover from financial to business services By ANNA TEO [SINGAPORE] For every dollar Singapore banks spent outsourcing non-core activities in the past five years, 93 cents went to local firms and only seven cents flowed overseas. A similarly
      Source: MAS estimates  -  448 words
    • 645 2 Rolex tribute for ten who made a difference THE five winners of the 12th Rolex Awards for Enterprise were announced yesterday, at a press briefing attended by over two dozen members of the local and international media. The awards ceremony will be held at the Esplanade Concert Hall
      645 words
    • 660 3  -  A great honour for S'pore to host awards ceremony, says Tommy Koh By MATTHEW PHAN [SINGAPORE] The five winners of the 12th Rolex Awards for Enterprise were announced yesterday, at a press briefing attended by over two dozen members of the local
      660 words
    • 604 3  -  DBS seen leading Q3 profit growth, UOB a bit higher, and OCBC profit falling By WONG WEI KONG [SINGAPORE] Just how much of the overall pick-up in loans growth and interest rates the local banks have managed to work into
      604 words
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    • 8 2 people Roaming Asia-Pacific. Www thepeopleatwork.com Asia-Pacific Executive Search
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  • Page 3 Advertisements
    • 113 3 BLACKROCK MERRILL LYNCH INVESTMENT MANAGERS JOIN FORCES. I THE NEW POWERHOUSE IN INVESTMENT MANAGEMENT. M Blackßock and Merrill Lynch Investment Managers have merged, creating one of the world's most powerful investment management firms. As Blackßock Merrill Investment Managers we our a an even greater we we i performance |fl range
      113 words

  • COMPANY NEWS
    • 417 4  -  Longer-term growth prospects main concern with more competition By VEN SREENIVASAN SINGAPORE Airlines (SIA) is expected to post secondquarter earnings of $300-350 million, following the $343 million profit it chalked up for the July-Sep-tember quarter last year. The figures for Q2 earnings are
      417 words
    • 711 4  -  HOCK LOCK SIEW By VEN SREENIVASAN SINGAPORE Airlines (SIA) must have some pretty good reasons for spending US$36O million on the luxurious new seating and sleeping arrangements it has just unveiled for its cabins. So what are those reasons? The new Givenchy-designed cabins featuring
      FILE PHOTO  -  711 words
    • 6108 4 UNIT TRUSTS FUNDS AB Amer Income AT USD 161/ ABAms Income BT USD 8.64/ AB Amer Income A USD 8.6/ ABN Amro Asset Mgt (S pore) AB Amer Income B USO 8.6/ Star Europe Eqty! 0.99* AB Amer Income A EUR 635/ Star Europe 8ond 1. 7* A8 Amer Income
      6,108 words
    • 745 6  -  They issue buy calls on counters like Robinson, Metro, Sincere Watch By LAUREL TEO WITH the macro-economy performing strongly, analysts are now saying that the outlook is just as rosy for the retail sector. From department stores like the Robinsons group and Metro
      745 words
    • 244 6 TIMBER-related Chuan Soon Huat Industrial Group Ltd yesterday warned that its results for the third quarter ended Sept 30 would be hit by an extraordinary loss from its Indonesian subsidiary, PT Cemerlang Selaras Wood Working. This follows a "significant write-down of timber
      244 words
    • Article, Illustration
      704 8  -  And now, Fumihiko Konishi is launching an IPO in S'pore, reports LAUREL TEO LAURELTEO ACK in 1968, a young Japanese chemist on his maiden voyage to see the world decided he liked the look of South-east Asia, and stayed on for four years in Singapore when he obtained a
      YEN MENG JIIN  -  704 words
    • 302 8  -  By CONRAD RAJ SEMBCORP Shipyard, a wholly owned subsidiary of SembCorp Marine, has secured a $30 million contract from Norway's Neptune Marine Oil Gas Ltd for the upgrading and reactivation of a drillship, the Neptune Explorer. The contract represents Phase II of upgrading and reactivation
      302 words
    • 274 8  -  By ARTHUR SIM KEPPEL Land sold about 600 housing units here in the first nine months of the year roughly the same number it sold in the whole of 2005. And projects including Caribbean at Keppel Bay, Park Infinia and The Belvedere
      274 words
    • 412 8  -  She details part ex-CEO played in misstating profits By WEE LI-EN FORMER Informatics group financial controller Cecilia Tong was yesterday crossexamined in court following her evidence against the private-education company's former chief executive, Ong Boon Kheng. She had earlier detailed the part Ong had
      412 words
    • 366 8  -  By CONRAD TAN SINGAPORE Petroleum Co's third-quarter net profit plunged 78 per cent to $23.2 million after the group took a hit from steep falls in refining margins and crude oil prices. Revenue for the quarter stayed flat at $2.24 billion, while cost of
      366 words
    • 613 12 Construction accounts for just 35% of revenues Reuters SINGAPORE construction and real estate firm Sim Lian Group expects to generate most of its revenue from property development within five years, as it roughly doubles the num- ber of individual homes it builds. Diana Kuik,
      Reuters; FILE PHOTO  -  613 words
    • COMPANY BRIEFS
      • 52 12 ASCOTT Residence Trust yesterday reported net distributable income of $14.3 million for the period from its listing date of March 31 to Sept 30 2 per cent higher than forecast at the time of listing. Distributable income per unit was 3.14 cents—0.06 cent above the
        52 words
      • 49 12 CAPITALAND has increased the size of an earlier $350 million 10-year convertible bond issue to $430 million, it said yesterday. It had granted issue manager JPMorgan an over-allotment option to issue up to an additional 150 million worth of the bonds.
        49 words
      • 41 12 UNITED Industrial Corp (UIC) director and major shareholder John Gokongwei has increased his deemed stake in UIC from 31 per cent to 31.54 per cent by way of a married deal, the company said yesterday.
        41 words
      • 37 12 PACIFIC Century Regional Developments (PCRD) has appointed its chief financial officer Peter Allen, 51, as group managing director. He is also an executive director of Hong Kong's phone company PCCW.
        37 words
      • 38 12 STRAITS Trading Co said a subsidiary of its hotel management arm Rendezvous Hotels has been appointed by Australia's Grand Hotel Group to manage three hotels in Sydney, Brisbane and Canberra,
        38 words
      • 53 12 TOSHIBA yesterday increased its stake in homegrown portable flash memory drive inventor Trek 2000 International from 10.3 per cent to 15.3 per cent. As part of an option signed early this year, Toshiba can increase its stake up to 19.5 per cent at
        53 words
      • 38 12 HO BEE Investment has signed contracts to acquire two light industrial buildings off Upper Paya Lebar Road for 11.1 million. Ho Bee wants to redevelop the site into a single industrial building.
        38 words
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  • Page 7 Advertisements
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    • 211 8 I IMMII i m •mm < Tli arilyn Lee m«..K l-MMCk. wifk Wi-Md iv/fk q I fWt- world of I I curt IV,fk tKe t (Ocok 2Dm. If MOMtfayr Fridav nt M ftdiog jf <» i iWWf 4 limm mm Radio9l.3 is managed by SPH Unionworks, a subsidiary of Singapore
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  • Page 9 Advertisements
    • 2004 9 I»V«y JI Land Keppel Land Limited Co Reg No: *****0001G (Incorporated in the Republic of Singapore) 1. UNAUDITED RESULTS FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2006 and also from the Group's new trading projects in Singapore, India and Vietnam. In addition, profit from The Directors of Keppel Land Limited
      2,004 words

  • SINGAPORE MARKETS
    • 510 10  - It's banks and property again STOCKS Straits Times Index lifted by 23 points to end above the 2,700 level for the first time R SIVANITHY Senior Correspondent WALL Street's strength over the past two sessions gave rise to yet another spirited showing on the local stock market yesterday, during which
      Source: Bloomberg  -  510 words
    • 994 10 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Oct 25 and earlier) Subsantlal No of Price SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Stock Date Director Sell '000 Shr COOP) fOOO) UIC 25-Oct-06 Telegraph Dev Ltd *Buy 7510 na *****5 31.00 *****5 31.54 Midas Hldgs 25-Oct-06 Gay Chee
      994 words
    • Article, Illustration
      908 10  -  Compiled by CONRAD TAN AsiaPharm Group Oct 25 dose: 550.605 DBS VICKERS SECURITIES, Oct 25 ASIAPHARM has acquired the patents, pr6cess technology, manufacturing licence and distribution networks for CMNa, a cancer treatment injection drug, for 80 million yuan (Ssl6 million). Once the drug is approved for use in
      T* Source: Bloomberg; -KTJJl yu Sourer Bloomberg  -  908 words
    • 539 10  -  CURRENCIES LARRY WEE Senior Correspondent THE Thai baht and Australian dollar led gains versus the US dollar in Asian currency trading yesterday, ahead of a US central bank meeting which is widely expected to leave current shortterm US interest rates unchanged at 5.25
      Source: Reuters  -  539 words

  • Page 11 Advertisements
    • 156 11 ERNST YOUNG ness Award -hm^ Emerging Entrepreneur Of The Year Ernst Youns presents the Ernst Young Entrepreneur Of The Year Singapore 2006 Finalists jWMSffigMW Consratulations to these eisht finalists whose pursuit of entrepreneurial excellence serves as an inspiration Lifestyle Consumer Services Entrepreneur Of The Year for aspiring entrepreneurs of tomorrow.
      156 words

  • Page 12 Advertisements
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  • COMPANIES: CHINA STOCKS
    • 412 13  -  It had acquired rights to make a chemical sensitiser for radiotherapy Reports by JEAN CHUA ASIAPHARM shares gained as much as 8.85 per cent yesterday, after the company said on Tuesday that it had bought rights to make a chemical sensitiser for radiotherapy
      412 words
    • 243 13 SINO Techfibre has contributed $100,000 towards The Bull Run 2006, a charity event organised by the Singapore Exchange (SGX). The group's chief executive, Li Wenheng, presented the cheque to SGX chief executive Hsieh Fu Hua at a ceremony to mark Sino Techfibre's
      LIANHE ZAOBAO  -  243 words
    • 315 13 RECENT listing Epure International has started a joint venture to manage the operations of water and waste-water treatment plants in Shanghai. The venture agreement, signed by Epure subsidiary Beijing Sound Environmental Engineering, is for an initial period of 20 years
      315 words
  • Page 13 Advertisements
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  • SINGAPORE INTERNATIONAL
    • 836 14  -  Five years on, Network China continues to help Singapore businessmen venturing into the Chinese market. CHUANG PECK MING reports CHUANG PECK MING Network china was launched in November 2001 by then deputy prime minister Lee Hsien Loong and former chairman of the Chinese People's
      836 words
    • 232 14 NETWORK China's membership has grown steadily from 330 in November 2001 to 1,300 today. Since it was rolled out five years ago, Network China has hosted and supported more than 130 seminars, missions and networking events, attracting over 20,000 participants, according to Yew Sung Pei, secretary-general of
      232 words
    • 180 14 Regional Representative for Shandong Province Ee Tai Ting, chief executive officer of FHTK Holdings Ltd. FHTK is a global player in the fresh produce business with an extensive distribution and market network. In 1998, FHTK entered the plantation and dehydration business in
      180 words
    • 330 14 Regional Representative for Changzhou David Teo Kee Bock, chairman and managing director of Super Coffeemix Manufacturing Ltd. Listed Super Coffeemix's principal activities include manufacture and distribution of instant coffee, non-dairy creamer, instant cereal flakes and convenient food products such 3s instant noodles and potato chips. It has manufacturing
      330 words
    • 89 14 Regional Representative for Fuzhou SamGoi, executive chairman of Tee Yih Jia Food Manufacturing Pte Ltd. TYJ is a food and beverage group with operations in Singapore, Malaysia, USA, Europe and China. Regional Representative for Guangdong Province Patrick Lee Kwok Kie, executive chairman of Sing Lun Holdings Ltd. Sing
      89 words
    • 92 14 Source: International Enterprise Singapore Regional Representative for Chongqing Clement Tang, director of Sino Agri-Trade Pte Ltd. Mr Tang has vast business experience in the Chinese municipality of Chongqing as well as other parts of China. Sino Agri-Trade's associate company. Great Wall Investments Pte Ltd, has been operating a
      Source: International Enterprise Singapore  -  92 words
    • 133 14 International Enterprise Singapore Launched by thendeputy prime minister Lee Hsien Loong and former chairman of Chinese People's Political Consultative Conference Li Ruihuan in Nov 2001. Launch of first Network China Business Directory in 2002. Keynote address By Li Lanqing, former vice-premier of State Council of
      International Enterprise Singapore  -  133 words
  • Page 14 Advertisements
    • 56 14 Guangzhou has also developed into logistics ceptre for southern China, with its international airport and Nansha K of Commerce Industry, Singapore Manufactu ers Federation and United Overseas Bank. JWH Guangzhou Singapore Investment Seminar Registration Ms Joyce Teo Singapore Pacific Admission is free! Pre-registration is required. H IKS if iHI HHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHIHHHHIHHHHHBHHHIHI
      56 words
    • 41 14 enterprise The Business Times SINGAPORE Singapore Singapore International li a vreakly, marfcat-focuiad mrim brought to you by IE Singapore and Tha Buslnass Times. IE Singapore Is an agancy undar tha Ministry of Trada and Industry halping Singapore enterprises export and Intorna^jonollM.
      41 words

  • SINGAPORE NEWS
    • 319 15 PRIME Minister Lee Hsien Loong arrives in China today for a summit to celebrate the 15th anniversary of AseanChina relations. The summit takes place in Nanning, Guangxi province, from Oct 30-31. Today, he visits the Guangdong provincial capital of
      319 words
    • SINGAPORE ROUNDUP
      • 41 15 THE government has appointed Anil Kumar Nayar as Singapore's next ambassador to the Kingdom of Belgium, with concurrent accreditation to the European Commission and the Kingdom of Netherlands. He will assume the post on Nov 27.
        41 words
      • 81 15 MINISTER of Commerce and Industry of the government of West Bengal Nirupam Sen called on Senior Minister Goh Chok Tong at the Istana yesterday. The SM's press secretary said that Minister Sen updated Mr Goh on the latest economic developments in West Bengal
        81 words
      • 67 15 THE Singapore Compact will present the Inaugural Distinguished Lecture with Mark Moody-Stuart, chairman of the United Nations Global Compact Foundation, delivering his insights on "Why am I a Social Responsibility Champion" on Nov 2 at Raffles Hotel Jubilee Hall. The
        67 words
    • 360 15  -  One of the three winners will represent Singapore By WEE LI-EN THE eight finalists of the Ernst Young Entrepreneur of the Year Awards (EOY) were announced yesterday. Ernst Young said that this year saw more nominations from the lifestyle and consumer services industry, unlike
      360 words
    • 604 16  -  Visiting top official also praises local firm for helping the bank improve By SIOW LI SEN BANK of China (BOC) and strategic investor Temasek Holdings are discussing further areas of cooperation, said a top official of the bank yesterday. "This morning, I met Ho Ching
      604 words
    • 473 16 Both electronics, pharmaceuticals seen underpinning production pick-up Bloomberg JSINGAPORE'S industrial «production growth probably accelerated in September as drug manufacturers 'and chipmakers boosted •output to meet overseas de4mand. Manufacturing, which for a quarter of •Singapore's US$llB billion "economy, rose 5.9 per cent ♦from
      Bloomberg  -  473 words
    • 483 16 Reuters tthe biggest contract electronics manufacturer, on ♦Tuesday posted a quarterly 'profit against a year-earlier 4 loss and said that demand *was accelerating across vir«tually all its businesses. The company forecast •revenue for the current quarter of US$5.l billion to •US$5.3 billion, in
      Reuters  -  483 words
    • 303 16  -  By ARTHUR SIM SHELDON Adelson. soon to be Singapore's leading figure in die meetings, incentives, conventions and exhibitions (Mice) business with his Marina Bay Sands integrated resort, has been named one or the most influential people in the tradeshow industry by Tradeshow Week magazine.
      FILE PHOTO  -  303 words
    • 214 16 RETAILERS that aim to attract families can now boast an official "pro-family" business mark, under a national accreditation programme launched yesterday for businesses seeking to flaunt their family-friendly credentials. The mark aims to "identify and distinguish businesses that have successfully adopted and implemented pro-famfly.
      214 words
  • Page 15 Advertisements
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  • Page 17 Advertisements
    • 97 17 TONIGHT, ALL MANKIND WILL BE A WINNER. For 30 years, the Rolex Awards lor Enterprise have supported individuals whose groundhi caking endeavours expand our knowledge of the world or improve lite on the planet. Tonight at the I splanade Concert Hall, five men and women will he honoured for their
      97 words

  • ECONOMY WATCH
    • 566 18 Macro-economy heading for soft landing, says top economic planner Reuters [SHANGHAI] China's economic tightening measures will cause growth in 2007 to fall below 10 per cent, the first time since 2002, the country's top economic planner said in a report published yesterday. The National
      Reuters  -  566 words
    • 455 18 Bloomberg [BEIJING] Investment growth in China's real estate industry accelerated in the first nine months of the year, according to the nation's top planning agency, indicating that central government cooling measures have yet to take.effect. Property investment rose 24.3 per cent, or 2.1
      Bloomberg  -  455 words
    • 449 18  -  By ANTHONY ROWLEY in Tokyo JAPAN'S trade surplus rose strongly during September, signalling that the economy is still buoyed by demand in the US and elsewhere, and pointing to strong growth in the nation's third-quarter GDP. TRr a e&ijJ per cent
      AFP  -  449 words
    • 342 18 AFP [BANGKOK] Thailand's post-coup government said yesterday that the ecdnomy could grow by up to 5 per cent next year under a proposed "sufficiency economy" model, which it insisted was not against free trade. "Economic growth of 4-5 per cent, which
      AFP  -  342 words
    • 286 18 AP Reuters [SEOUL] South Korea's economy grew 4.6 per cent in the tnird quarter from the same period last year, boosted by strong capital investment and robust exports, the Bank of Korea said yesterday. The results for the three months ended Sept
      AP; Reuters  -  286 words
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      349 words

  • MALAYSIA
    • 347 19 Major groups have presence already; low-cost countries pose competition Bernama [KUALA LUMPUR] New foreign direct investments (FDI) from Japan to Malaysia may slow down from now since many major Japanese corporations had already established their operations in the country and the tough
      Bernama  -  347 words
    • 465 19 But ex-politicians, business people, citizens turn up AFP [KUALA LUMPUR], Malaysia's ex-premier Mahathir Mohamad was shunned by the country's political elite yesterday at an annual Hari Raya Aidil Fitri gathering at his home, while his son defended the former leader's campaign against the
      AFP  -  465 words
    • BRIEFLY ASIA
      • 52 19 AFP [NEW DELHI] India's new foreign minister, Pranab Mukheijee, yesterday said double-digit growth rate and peace with Pakistan were his immediate priorities, adding: "Our objective is to have sustained economic growth in the range of 9-10 per cent (in the next year) and higher growth
        AFP  -  52 words
      • 60 19 AP [TAIPEI] United Microelectronics Corp, the world's second-biggest contract chipmaker by revenue, yesterday said its net profit for the third quarter totalled NT$B.59 billion (Ss4 million), up from NT$2.l7 billion for the same period last year. Third-quarter revenue was NT527.85 billion, up 18.1 per
        AP  -  60 words
      • 47 19 Bloomberg [SINGAPORE] Titan Petrochemicals Group Ltd, China's largest oil supertanker owner, has opened the first phase of its Nansha oil storage terminal in Guangdong, the company said in a statement. The new facility holds up to 410,000 cubic metres of fuel oil.
        Bloomberg  -  47 words
      • 54 19 Reuters (SHANGHAI] China Life Insurance Co will set up with its parent a property insurance company worth a total investment of one billion yuan (Ssl99 million). This will be the first time the country's biggest life underwriter expands into the non-life insurance business, said
        Reuters  -  54 words
      • 67 19 Bloomberg [NEW DELHI] Hero Honda Motors Ltd, India's largest motorcycle maker, said second-quarter profit fell 9.2 per cent, the first drop in six quarters, as raw material costs rose and it offered discounts to win customers. Net income fell to 2.16 billion rupees
        Bloomberg  -  67 words
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  • GREATER CHINA
    • 255 20 AFP [SHANGHAI] London's iconic black cab will soon cruise the streets of China after the specialty British carmaker agreed to a Chinese joint venture in Shanghai, a statement said yesterday. China's Geely Holding Group and Britain's Manganese Bronze Holdings inked the agreement
      AFP  -  255 words
    • 492 20 Talk of takeover bid pushes up Far Eastern's share price by 6.8% [HONG KONG] UK-based banking giant HSBC Holdings is rumoured to be acquiring Taiwan-based Far Eastern International Bank, prompting the target lender's share price to climb 6.8 per cent on Tuesday
      492 words
    • Article, Illustration
      41 20 [BEIJING] Construction workers sitting under a billboard promoting the upcoming China-Africa summit in Beijing. The three-day Forum of China-Africa Cooperation will be heldfrom Nov 3 to 5 and will promote trade and relations between China and African nations AFP
      AFP  -  41 words
    • 217 20 [NEW DELHI] Faced with increasing instances of work permits for India being rejected on security considerations, China is planning to take up the matter with the Indian government during the visit of its President Hu Jintao here in the third week
      217 words
    • 241 20 AFP [HONG KONG] Macau has become the world's top gambling destination, analysts said yesterday, after the latest earnings figures from the southern Chinese territory showed it had topped Las Vegas' famous Strip. The upbeat estimate was made after the tiny city posted figures
      AFP  -  241 words
    • 443 20 The State Council will consider its proposal Reuters [SHANGHAI] The northern Chinese -city of Tianjin has applied to establish the country's third stock exchange in a race to catch up to Shanghai and Shenzhen as a mainland financial centre, fund managers and officials
      Reuters  -  443 words
    • 207 20 Bloomberg [BEIJING] China will allow securities companies that buy stakes in futures companies to act as brokers for stock-index futures, an official at China's securities regulator said. Some Chinese securities companies have completed such investments, Huang Yuncheng, deputy directorgeneral of the regulator's futures
      Bloomberg  -  207 words
  • Page 20 Advertisements
    • 940 20 Ikl TUC UATTCD AC ,N E MATTER OF BANKRUPTCY ACT (CHAPTER 20) ~«JJirirT THE COMPANIES ACT, CAP. 50 THE BANKRUPTCY RULES THE COMPANIES ACT, CAP. 50 AND and in the high court of the IN THE MATTER OF IN the matter of RETVBLIC QF SINGAPORE KELLER PIANO COMPANY s EM»
      940 words
    • 23 20 wmatss m VUra stmmmiiew More details in this issue! I MAXIM I NMNi IF TH PUNirS SHIEST WMNEN NOVEMBER ISSUE OUT NOW! SFHmagazines
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  • INDIA
    • 516 21 He is also confident that inflation can be contained within 5 per cent mark Reuters, Bloomberg [STANFORD, California] Indian Finance Minister Palaniappan Chidambaram said on Tuesday he saw no need to lower the Indian government's stakes in state-run banks, and added that the
      Reuters,; Bloomberg; AP  -  516 words
    • 279 21 Key crude and fuel units still running, says official Reuters [AHMEDABAD/MUMBAI] Reliance Industries Ltd has shut a few units at its 660,000 barrel per day (bpd) refinery in western India after a fire broke out at a secondary hydrotreater, a top company
      Reuters  -  279 words
    • 289 21 Bloomberg [LONDON] The financing of Tata Steel Ltd's acquisition of Coras Group Pic is wreaking havoc in the derivatives market. Mumbai-based Tata blindsided traders when it decided to borrow as much as US$6.l7 billion through its non-invest-ment-grade Coras unit to fund the
      Bloomberg  -  289 words
  • Page 21 Advertisements
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  • MIDDLE EAST
    • 486 22  -  Most of US$395b 5-year funding needs have to come from Arabs: report By CLARENCE MICHAEL in Dubai THE Middle East and North African region's cumulative investment requirement in the energy sector for the next five years has shot up to US$395 billion, 52
      BLOOMBERG  -  486 words
    • 426 22 Comments push Saudi unit down to near US$ peg level Reuters [RIYADH] The Saudi riyal slipped versus the US dollar on Tuesday after the central bank dismissed as baseless speculation that it would revalue the kingdom's currency. The riyal rose to a five-and-a-half-month high
      Reuters  -  426 words
    • 319 22 Bloomberg (ABU DHABI] Abu Dhabi National Energy Co, which invests in power and water desalination plants, plans to borrow US$9.5 billion over 18 months to finance expansion in the Middle East, Europe and Russia, its chief executive officer, Peter Barker Homek said. Created last
      Bloomberg  -  319 words
  • Page 22 Advertisements
    • 98 22 j M I C w mWr w tu jWL jr JtJfc mM* i&f'. |jy| §ro M *ra2fc > W Jai&MlE 1 m H 'ffir y f^jp* /•'<. V f. 1 '-"V- f .Y -V -v. ."V Stay current with Corporate Training. 1 ■-'<»• ..A 5 Or else. X-I V. v<'
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  • ASIA-PACIFIC/WORLD
    • 430 23 LATEST US DATA Annual price drop in Sept biggest on record, reflecting lukewarm housing market in US AP [WASHINGTON] Sales of existing homes in the United States fell for a sixth straight month in September and the median sales price dropped on an
      AP  -  430 words
    • 834 23  -  ASIA INSIGHT ANTHONY ROWLEY Tokyo Correspondent DOES the fate of the world's financial markets lie not as generally supposed along Washington's Constitution Avenue, in the hands of US Federal Reserve chairman Ben Bernanke, but in Tokyo's Nihombashi district where the Bank of Japan
      834 words
    • 385 23 AP [LAS VEGAS] Observers say the recently enacted US law that bans gambling online could cut into the number of entrants to the planet's richest card game the World Series of Poker. The number of players in the tournament,
      AP  -  385 words
  • Page 23 Advertisements
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      53 words

  • AVIATION
    • 611 24 Company cites Russian authority's refusal to let plane fly over its territory AFP, Reuters [HONG KONG] The maiden flight of Oasis Airlines, Hong Kong's much-talked-about first long-haul budget airline, was cancelled yesterday after Russia refused to let it fly over its territory, the
      AFP,; Reuters; AFP  -  611 words
    • 257 24 AP [CHICAGO] Boeing Co, the No 2 commercial airplane maker behind Airbus SAS, said yesterday its third-quarter earnings fell 31 per cent, hurt by a hefty charge for pulling the plug on in-flight Internet service Connexion. But higher jet sales helped the company's
      AP  -  257 words
    • LOG BOOK
      • 88 24 China to buy 2 ,900 new jets by 2025 AFP [SHANGHAI] The Chinese aviation market will buy nevly 2,900 new airplanes worth US$2BO billion by 2025, US aircraft maker Boeing said yesterday. Compared to the situation now, this will lead to more than a tripling of the total civilian Chinese
        AFP  -  88 words
      • 69 24 AP [SHANGHAI! Two top executives at China Eastern Airlines, China's third largest carrier, have been detained in a corruption probe, the company said yesterday. Tong Guozhao and Wu Jiuhong, both deputy general managers, were "assisting in the investigation", the airline's secretary of the
        AP  -  69 words
      • 105 24 AFP [HONG KONG] Hong Kong's flag carrier Cathay Pacific said yesterday it will launch a twice-weekly freighter service between Hong Kong and Beijing from Nov 15 after gaining approval from the Chinese government. Ron Mathison, Cathay Pacific director and general manager for cargo, said
        AFP  -  105 words
    • 458 24 1,330 staff being laid off will result in US$31m in Q3 costs Reuters [MONTREAL] Bombardier Inc said on Tuesday that it will lower production of its regional jets by a third and cut 1,330 jobs in Montreal and Belfast, or almost 5 per
      Reuters  -  458 words
    • 218 24 Reuters [MOSCOW] Russian President Vladimir Putin yesterday urged Russian airplane makers to speed up the creation of a state aviation holding company in a bid to boost safety standards in the nation's ailing civil aviation sector. "One should not economise on the safety
      Reuters  -  218 words
    • 2094 24 an MOT r« WHW HP SQ407 0715 1C860 0925 K859 0605 SQ406 1855 ***** 1215 S0456 1340 9W18 1650 9W17 2300 ZBsBr LH9771 750 AJ8088 2215 Qf?ft4 1650 Qf39?5 2300 Soi» 750 BA7382 22 5 S0141 1145 SQ142 0935 ASB087 850 QW2 22 5 W 43
      2,094 words
  • Page 24 Miscellaneous
    • 378 24 CRYPTIC CROSSWORD 1 Beat Germany? There's the SB problem! SB HIT 'HM H HH 3 Pictures a slip up by comedi- 8 Mother and child given fruit (6) Unfortunately true in negative 9HB[ H IB M H iH Annual that might be okay or fIBHI H W Hjj|H[ |Hf 12
      378 words

  • SHIPPING
    • 616 25 Increased demand for vessels pushes order book up to US$l2.4b Bloomberg [SINGAPORE] Hyundai Heavy Industries Co and other South Korean shipyards received a record US$l2.4 billion worth of orders in the third quarter in 2006, helped by increased demand for vessels that carry
      Bloomberg; BLOOMBERG  -  616 words
    • 428 25 Box traffic seen rising; but little impact for tankers Reuters [NEW YORK] More and bigger container ships are expected to sail to the US East Coast from Asia if the Panama Canal expansion goes ahead as planned, some ship owners said on
      Reuters; AFP  -  428 words
    • 145 25 Bloomberg [OSLO] Siem Offshore Inc, a Nprwegian owner of vessels that transport supplies to offshore oil platforms, ordered six vessels worth US$475 million from Kieven Verft AS to expand its fleet. The contract for so-called Anchor Handling Tug Supply vessels with the Norwegian
      Bloomberg  -  145 words
    • 317 25 Reuters [MOSCOW] Russia's top container shipping firm, the Far East Shipping Company (Fesco), plans to float shares on the London Stock Exchange in spring or autumn 2007, a senior company official told Reuters on Monday. "We're looking at two possible timetables for the offering,
      Reuters  -  317 words
    • 592 25 NYT [NEW ORLEANS] When the Norwegian Sun docked in New Orleans on Oct 15, the Big Easy's ship had finally come in, in more ways than one. Having deferred its arrival in the Crescent City for about a year, the ship's docking at
      NYT  -  592 words
    • 211 25 AP [TOKYO] Japan's coast guard mobilised helicopters to rescue crew members of two ships that ran aground at a northeastern Japanese port, an official said yesterday. All 20 Filipino crew members of the Panamanian-registered Ellida Ace were rescued early yesterday and
      AP  -  211 words
    • 293 25 SOX '600 Oct 25 S$ W- Vol CH Offshore....- ...0.40 001 667 Oman Hup _0.32 001 3650 Coko Corporation 1.91 0.06 9550 CWT Distribution .0.57 0.01 77 Ezra Hldgs 3.94 0.04 1065 Freight units 0.07 un<h 495 Grand Banks Yacht 0JB 0.02 29 lava Holdings 1.39 i«xh 5373
      293 words
  • Page 25 Advertisements
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      64 words

  • EDITORIAL & OPINION
    • 519 26 EDITORIAL IN ITS drive to shape itself into a hub for asset and wealth management, Singapore offers a plateful of incentives that other jurisdictions should find hard to beat. Fund registration is simple and relatively speedy. There are numerous incentives for fund management activities. Firms
      519 words
    • 755 26  -  THE BOTTOM LINE ROBERT SAMUELSON WHEN he died in 1848, John Jacob Astor was America's richest man, leaving a fortune of US$2O million that had been earned mainly from real estate and fur trading. Despite his riches, Mr Astor's business was mainly a
      755 words
    • 1378 26  -  Vietnam has gone from war to communism to quasi-capitalism to become Asia's second-fastest-growing economy with 8.4% growth last year that trailed only China's By KEITH BRADSHER NYT NEARLY four decades ago, South Vietnamese leaders mapped out their battle plans inside the presidential palace here. When
      NYT; REUTERS  -  1,378 words
    • 794 27  -  The scale of the fires, and the haze they lead to, require consolidated efforts by both govts and society By FITRIAN ARDIANSYAH, NAZIR FOEAD FOREST fires and haze have caused major problems in Indonesia and its Asean neighbours in the past 10 years.
      REUTERS  -  794 words
    • 77 27  -  Kirpal Singh Singapore I AGREE entirely with the observations of Lee Ping Shih ("Ouster not Robinson's way", BT, Oct 19). The removal—done at the instance of a foreign shareholder of a highly regarded Singapore individual, highly respected, proficient in every respect, is a precedent
      77 words
    • 172 27  -  LETTERS TO THE EDITOR S Subramanyan Singapore I READ with interest your report "Plan to merge Air India. Indian on track" (BT, Oct 20). A merger of these two state-owned airlines should have come 10 years earlier, but better late than never. Perhaps the
      172 words

  • Page 27 Advertisements
    • 334 27 M Find out more at HSBC's property seminar and fair I For those of you who like to keep ahead of property trends, HSBC q i lll||f invites you to a property seminar and fair. Be informed on the market i piease make your payment by credit card at i
      334 words
    • 99 27 HAVEYOUR SAY Fax your letters to 6319-8277 or email them to btietterOsph. com.sgorwriteto:The Business Times, SPH HQ, 1000 ToaPayoh 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 laws. We reserve the right
      99 words

  • 10060 28 SGX MAINBOARD 52-Wk Til lot Vol Day last Quota Mv GrYM Mat MCac W0i low Coda Company Sale COOP) Htfi Low Buyer Sa«er CV WE SmS 3 5 1 5716 1st Software 2.5 2 23 10.1 113 6 3148 STetacom _.7 7 7 5 < 9 2.7 7.4
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  • Page 28 Advertisements
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  • 5681 29 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES to tool art III St to USS j yr «w 24 todOT Chug* Ovtfta* Omnyt Chang* Chang* Chang* TheWotkl mdo yrefamnary ***** 0.0 99 -0.1 65 Q.l t2.4 s EAR Preirrenary 107*1 0.1 10.4 Q.Q 9.4 Q.Q 15,5 ***** 0.0 126 00 143
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  • Page 30 Advertisements
    • 936 30 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination DD LEADER RDM/ATW/BMN/TLB/NAN OCEAN JADE CAM/NFK/NOl/SAV Loads Singapore, E./W. Malaysia, Indonesia A Loads E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE WMJL SERVICE Destination BLUE SKY DBI/ABU/DOH/BRN/DMM/KWT Destination JUPITER CHARM DBI/ABU/DOH/BRN/DMM/KWT STX PO TBN INC/BSN Loads Singapore, E./W. Malaysia, Indonesia Loads E. Malaysia, Indonesia OTHER SERVICES
      936 words
    • 13 30 PLACE YOUR AO H HERE The Business times Shippin^^^b CALL MICHAEL OR BERNARD
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    • 584 30 fjQ DONCNAMA LINE OQMTmiMrtiP tKWVICB vessel dvar sat) voy I sgp hkg ovt termimai) YMMUMOAII in 21/10 01/11 ORIENTAL ORIGHT 0741 04/11 01/11 VESSEL (EVERY SUN) VOY SGP HKG KOTA HARMUW HN1309 29/10 02/11 KOTA HASII HAS43S 05/11 Of/II VISSa(EVBYSUN) VOY SGP HKGORI) TKY YOK ROM MOIGiORY ***** 20/10 02/11
      584 words
    • 509 30 vtfw WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobol.com VESSE VOY RAMP HBGHT SIN UC MAO SAV Mi Of TAPKXA AUI9 4001 M 6.JM 16/11 19/12 M/ 12 30/12 21/12 TEXAS AM3S 4201 m* 6.4 M Of/12 01/01 10/01 14/01 10/01 17/01 [TAMO Af7ol 4201 M MM 20/12 21/01 >0/01 03/02 00/02 00/02
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  • Page 31 Advertisements
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    • 651 31 <§» Sai/SA WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTS rasa voy smi pjqano colomoo n. sheva ammo XOTAFBWIIA YFWW3 24OCT 2500 28OCT 31 OCT 04NOV mom unPHi oioßw 3i on oinov 04 no» 07 nov imov ialiahadui oiotw 07wov otwov nnov mnov iinov XOTAWTAMA
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 4928 32 This ETA ETA Advartinr Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Dasfa Name Name Humbii Number SIN DefTa Name Nam Numbar Numbar 09/11 29m China Shpg NEW DYNAMIC USA £*****98 ■fo ABIDJAN (ABJ) 2003 Cote D'lvoire 13/11 06/12 ChraStyg ARABIAN EXPRESS
      4,928 words

  • BizIT
    • 650 33  -  It will be the sole source of video-on-demand Hollywood programming, says WINSTON CHAI WINSTON CHAI Singapore-based entertainment firm Anytime has clinched a major licensing deal to provide Hollywood blockbusters and interactive entertainment via the Internet to millions of television viewers in India. The deal
      650 words
    • 691 33 NYT [LOS ANGELES] One of Hollywood's top five talent agencies has created an online unit devoted to scouting out up-and-coming creators of Internet content particularly video and finding work for them in Web-based advertising and entertainment, as well as in
      NYT  -  691 words
    • 686 33  -  By AMIT ROY CHOUDHURY SEAGATE Technology, the world's largest disk drive maker, yesterday announced fiscal first quarter sales in Asia up a whopping 40 per cent as electronics manufacturers in the region snapped up its hard drives for their
      686 words
    • 522 34  -  It retains all of Opentech's staff, appoints founder Caritor Asia's CEO By ROLAND LIM FOLLOWING its Ss2o million acquisition of homegrown enterprise IT solutions provider Opentech Corp earlier this year, USbased IT software and services company Caritor Inc has made the company
      522 words
    • 178 34 AFP [TAIPEI] Taiwan's Acer Inc said yesterday it is confident of attaining its goal of bumping rival Lenovo and becoming the world's number three personal computer brand in 2007. "Our business direction over the last few years has clearly been
      AFP  -  178 words
    • 280 34 Reuters [LOS ANGELES] Sony Corp said on Tuesday its digital projection system is market ready after tests conducted by an entertainment industry advisory board, and the company expects to announce new deals to install the systems in movie theatres in coming weeks. The SXRD
      Reuters  -  280 words
    • 612 34 Reuters [SEATTLE] Microsoft Corp will begin a coupon programme this week for personal computer buyers to upgrade to the new Vista operating system when it premiers next year in an effort to avoid a drop-off in PC sales over the holidays and ahead
      Reuters  -  612 words
    • 299 34 AP [SAN JOSE, California] A Norwegian hacker known for cracking the copy-protection technology in DVDs claims to have unlocked the playback restrictions of Apple Computer Inc's iPod and iTunes music products and plans to license his code to others. The move by Jon
      AP  -  299 words
    • 474 34 Bloomberg [SAN FRANCISCO] Apple Computer Inc's iPod will dominate the digital media device market in the next 12 to 18 months even as Microsoft Corp introduces a competing music player, according to a Jupiterßesearch report. The iPod won't lose "significant" sales among US portable media
      Bloomberg; BLOOMBERG  -  474 words
  • Page 33 Advertisements
    • 89 33 W% Do You Know jfl H CA named top Identity and Access Management I Wh T CBS software vendor worldwide by IDC for the sixth g 0 a consecutive year since 1999* ft A I II Call 6836 4388 for a free assessment" \HI m7m Transforming m j NJlftjH IT
      89 words

  • Page 34 Advertisements
    • 269 34 Canon Delighting You Always r V >- >» V v Award-winning LCOS technology just got better. HWM Platinum Award Om||<2ooS with a Perfect '10' Score Pick ii^Kl iwajjfr. Mb sk, 7 JflHb imtmT-iii Hk SXQA+ k t t• 3500 lumens 1000:1 contrast ratio K 1.7 X wide angle zoom lens
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  • PROPERTY
    • 920 35  -  KepLand among foreign developers pouring investment into Bangalore By SIDDHARTH SRIVASTAVA in New Delhi BANGALORE was voted the best city to live in in a recent nationwide survey, given its cosmopolitan culture, plentiful jobs'and pleasant weather. Not surprisingly, the information technology (IT) hub
      FILE PHOTO  -  920 words
    • 580 37  -  Proceeds from sale will be used to further expand KHl's portfolio By CLARENCE MICHAEL in Dubai SAUDI billionaire Prince A 1 Waleed bin Talal's Dubaibased Kingdom Hotel Investments (KHI) has announced a partial sale of its minority shareholding in Fairmont Raffles Holdings
      580 words
    • 1679 37 PROJECT NAME/ PROP CONTRACT TENURE 8WJ-INAAND PRICE P5F STREET NAME TYPE DATE AREA'(SQFT) (SS'OOO) (SS) District 01 NON-LANDED The Sail At Marina Bay Apt 13/10/2006 99 592 646 1091 The SaH At Marina Bay Apt 10/10/2006 99 883 812 919
      1,679 words
    • 579 38  -  It's up a notch from last year after rentals rise 13% By JEAN CHUA ORCHARD Road has become the world's 13th most expensive shopping street up a notch from last year after rental rates in the area rose more than 13
      579 words
    • 226 38 Bloomberg LEND Lease Corp, Australia's largest property developer, is seeking a Ss66o million loan to build a shopping mall in Singapore, a banker involved in the transaction said. The company hired Oversea-Chinese Banking Corp and HSBC Holdings pic to arrange the four-year loan. The banks
      Bloomberg  -  226 words
    • 193 38 DAPENSO Building on Cecil Street has been put up for sale at an indicative price of $60 million. The site is 11,030 sq ft, has a plot ratio of 11.2 and is zoned for commercial use. Marketing agent Colliers International's director for investment sales Ho
      193 words
    • 143 38 A SMALLISH freehold residential site on the East Coast is up for collective sale by tender. Marketing agent Knight Frank said yesterday the price for Heiwa Court is at least $10.5 million, or $367 per square foot per plot ratio, including a
      143 words
  • Page 35 Advertisements
    • 955 35 Mizuho Financial Group, Inc. CONSOLIDATED BALANCE SHEETS CONSOLIDATED STATEMENTS OF OPERATIONS At March 31 Million, of yen MHMon. o» yen 2006 2005 For ths Fiscal Year, ended March 31 2006 2006 ASSETS Cash and Due from Banks 5,016,216 6,808,965 Income Call Loans and Bills Purchased 938,435 397,507 Interest Income 1,935
      955 words
    • 491 35 FOR SALE BY TENDER Hoe»w> Residential Redevelopment •mhNwtan,. IOT 6 T ««A h §i te at Balestier Road, Y1 To#Pavoh TT y-, spomlu. Hang Tat Garden Jln Land area 2,341.2 sm (25,200.4 sq ft) J'n Rajah to* Freehold Master Plan 2003 PR 2.8, up to W j 36 storeys Within
      491 words

  • Page 36 Advertisements
    • 333 36 i V^I'JHb9K fete"! .■-•-••■#&ss& -:<yf fwßMiyX Jttgj|- V| I vV f tlhl'"*lr '^^^^WBlfcf lll^'' Ti V f klpß n^i ■f iV A m.,-. ,M H 1 V ff'iH H Unwind your mind as you experience total calm amidst the city bustle. An inner city :SS within the city. Deferred payment
      333 words

  • Page 37 Advertisements
    • 227 37 Aliunied Road For Good location: approx. 45 metres west of main Aljunied Road and approx. 1 km from Aljunied MRT station. 6 1/2-storey light industrial building Equipped with 2 Loading Bays, each with a 2000 kg lift 30 Parking Lots, potential for another 10 lots, if required Suitable for production,
      227 words
    • 191 37 savills For Lease UE Print Media Hub, at Paya Lebar Road BRAND NEW, TOP 1" Quarter 2007 5-storey building with basement carpark Units from 1,300 sqft 17,000 sqft Food Court in Building Next to Circle Line MRT Station Attractive Rentals Sole Marketing Agent ElfSeah 9693 4126/6415 7330 Cayce Kor 9828
      191 words

  • Page 38 Advertisements
    • 346 38 t FOR SALE 'VV SIMON COURT f/y Nff 999-year Tenure ff7S 'Land Area: 17,6905qft jPBf I SIMON -Walking Distto Kovan MRT r I COURT Residential, Plot Ratio 1.4 111 /(w.nx«iil Vicinity to good schools INVESTMENT: Dillon Loi lib (Hons) *****204 mt FOR SALE m v/xvNK SIMON COURT r**. -999-year Tenure
      346 words