The Business Times, 6 December 2006

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Total Pages: 33
1 34 The Business Times
  • 20 1 THE BUSINESS TIMES 5> SINGAPORE 85 cerits^ at http://business-times.asial.com.sg A SINGAPORE PRESS HOLDINGS PUBUCATION MICA (P) 099/03/2006 Wednesday, December 6,2006
    20 words
  • 503 1 Govt seeks other ways of boosting public revenue Reuters [HONG KONG] Widespread public opposition forced Hong Kong's government yesterday to drop a plan for a broad sales tax to stabilise public revenue. "We accept that at this time we do not have public
    Reuters; REUTERS  -  503 words
  • 983 1  -  Companies may have to bear some blame for employees' breaches By MICHELLE QUAH [SINGAPORE] Stricter rules and harsher penalties are on the way for those who flout Singapore securities rules, if legal changes proposed by the market regulator are brought in. The Monetary Authority of
    983 words
  • 133 1 STI 2.901.99 (+51.27) ST INDEX FUTURES 2.896.00 (+49.00) SIMSCI 355.29 (+7.77) SIMSCI FUTURES 351.20 (+4.00) MARKETS Tuesday Change KLCOMP 1,088.96 +11.52 NIKKEI 225 16,265.76 37.83 HANG SENG 18,944.19 +241.46 SET INDEX Closed JAKARTA COMP 1,776.76 +45.52 MANILA COMP 2,808.09 +12.79 SEOUL COMP 1,420.59 -5.87 SHENZHEN B 390.19 +0.45
    133 words
  • Page 1 Advertisements

  • TOP STORIES
    • 424 2 Tight race seen among bidders for Sentosa IR WITH the race for the Sentosa integrated resort in the home stretch, Genting International and Kerzner/CapitaLand are still seen as the front-runners, though some analysts rate Eighth Wonder an outside chance. The IR winner is expected to be announced this
      424 words
    • 826 2  -  It will focus on core media business but will seize property opportunities reports by TEH HOOI LING [SINGAPORE] Singapore Press Holdings will focus on expanding its core media business to boost revenue and growth going forward, but will seize property opportunities should
      826 words
    • 226 2 [SINGAPORE] Singapore Press Holdings shareholders yesterday approved a performance share plan that will replace the current employee share option scheme. "The plan is perfor-mance-based and is aimed to reward, retain and motivate employees," SPH chairman Tony Tan said at an extraordinary general meeting (EGM) that
      226 words
    • 176 2 [SINGAPORE] Cheong Yip Seng, edi-tor-in-chief of Singapore Press Holdings' English and Malay Newspapers Division (EMND), last night got a rousing farewell from the SPH board, which hosted dinner for him at Raffles Hotel. More than 70 of his colleagues, including senior management and editors,
      LIM SIM THAI/ST  -  176 words
    • 483 2  -  Proposed line into S'pore calls for new crossing By PAULINE NG in Kuala Lumpur SINGAPORE'S SMRT Corp has confirmed its interest in a RM3 billion (Ssl.3 billion) monorail project in Johor Baru that would require a new link across the Johor Straits to connect
      483 words
    • 107 2 IN "New kid on media block set to rock" (BT, Dec 4), we said Sembawang Corporation and ST Aerospace were clients of Orbital. We also said Orbital generated revenue of half-a-million dollars in its last financial year ending February, with a bottom line of about $100,000. Orbital has clarified
      107 words
    • 831 3  -  However, S'pore stock market's favourite appears to be Genting Int'l By ARTHUR SIM [SINGAPORE] With the race for the Sentosa integrated resort (IR) in the home stretch, Genting International and Kerzner/CapitaLand are still seen as the front-runners, though some analysts rate Eighth
      831 words
    • 406 3  -  By MICHELLE QUAH [SINGAPORE] Computer firm eSys founded by well-known entrepreneur Vikas Goel is on the verge of securing a strategic investment that will help it expand and make up for business it lost recently from major client Seagate, sources have told BT.
      406 words
  • Page 2 Advertisements
    • 398 2 people I No mountain high enough. www.thepeopleatwork.com Asia-Pacific Executive Search •Jk: v Vr^& V; Wc *V* JSP?* ':|pnHi Form IRBA Workshop 2007 Reporting of Employee Remuneration Date The Form IRBA, (Return of Employee's Remuneration) for the year 2006 Thursday, 18 January 2007 is due on Thursday, 1 March 2007. 9.00
      398 words

  • Page 3 Advertisements
    • 161 3 Muscle that's felt, not seen. It's performance in a new light. HHn BHH The new generation E5OO has arrived. With the most power in its class. I HHH Appearances are indeed deceptive. 5.3 seconds. All this power is harnessed more steering ratio and fine-tuned suspension, to /^T*\ Beneath the sleek
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  • COMPANY NEWS
    • 933 4  -  HOCK LOCK SIEW By R SIVANITHY JUDGING by the reaction of Pacific Century Regional Developments' (PCRD's) minority shareholders after last week's extraordinary general meeting (EGM), their decision to reject a consortium's offer to buy PCRD's stake in Hong Kong telco PCCW at HK$6
      933 words
    • 605 4 First outlets to open in VivoCity and Raffles City ROBINSON has clinched the exclusive rights to market British fashion label River Island, as BT had reported earlier. The rights cover Singapore and Malaysia, the listed blue-chip retailer announced yesterday. The first River
      FILE PHOTO  -  605 words
    • 901 6  -  Frank Benjamin's fascinating and gutsy story is also the history of fashion and retailing in South-east Asia for the past 30 years By SONIA KOLESNIKOV-JESSOP IHT HIS business is growing in new directions, and his retirement is secure, but Frank Benjamin, 71, still remembers vividly
      IHT; FILE PHOTO  -  901 words
    • 5577 6 UNIT TRUSTS FUNDS AB Emg Mkts B USD 29 36/ AS Amer Income AT SGD 13 43/ AB Amer Income BT SGD 13.49/ ABN Amro Asset Mgt (S'pore) AB Amer Income AT USD 8.72/ Star EuopeEqtyl" 1026/ AB Amer Income BT USO 8761 Star Europe Bond 1-23/ AB Amer Income
      5,577 words
    • 406 8  -  Jack-up barge order is first direct purchase by Saudi Aramco Overseas By CONRAD RAJ JURONG Shipyard, a wholly owned subsidiary of SembCorp Marine, the world's second largest builder of jackup rigs, yesterday announced that it had clinched yet another order, this time for a US$lBO
      406 words
    • 172 8 CONSTRUCTION group Lian Beng has secured contracts worth $65.9 million to design and build two condominium projects, it said yesterday. The first project is a 121 unit development at St Patrick's Road, in the Marine Parade area. Construction will start in January next year
      172 words
    • COMPANY BRIEFS
      • 69 8 RICHARD Li, who has a 75 per cent stake in Pacific Century Regional Developments (PCRD), has now an additional deemed stake of about 0.91 per cent. This came from an open-market purchase of 28.17 million shares on Dec 1 by JL Strategic Fund, whose
        69 words
      • 25 8 PETRA Foods has set up a $300 million multi-currency, medium-term note programme. Citigroup is the arranger and dealer.
        25 words
      • 49 8 THE Capital Group Companies has increased its deemed interest in Singapore Post from 11.1848 per cent to 12.0107 per cent after a series of transactions from Oct 31 to Dec 1. It has been increasing its stake in Sing Post steadily since June.
        49 words
      • 129 8 GUTHRIE GTS has taken a 20 per cent stake in a new mall development that will come up on the DBS Tampines Centre and adjoining Pavilion site. The two properties were bought by Asian Retail Mall Fund II in March for $288.9 million.
        129 words
    • 780 10  -  In a bullish report, the bank raises profit estimates for 2006 and 2007 By UMA SHANKARI INVESTORS who have yet to get on the property bandwagon can still do so now, according to Macquarie Research. The investment bank just released an upbeat report
      FILE PHOTO  -  780 words
  • Page 4 Advertisements
    • 717 4 chemoil energy limited Company Registration Number: *****1 DELIVERING ENERGY OUR COMPETITIVE STRENGTHS: Offering in respect of 224,803,000 Offering Shares (subject to the Over-allotment Option) Chemoil Energy Limited is one of the largest strong Brand Value Offering Price: UStO.4S per Offering Share (payable in Singapore dollars for the Public Offer at
      717 words

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  • COMPANIES: CHINA STOCKS
    • 382 11 SHARES of China Essence rose as much as 4 per cent to 63.5 cents yesterday after OCBC Investment Research initiated coverage with a "buy" recommendation and gave it a fair value of 83 cents, a 36 per cent premium over Monday's close of
      382 words
    • 309 11 YOUCAN Foods International will embark on a big advertising campaign next year, after it won a bid for spots on state television. The manufacturer of ice-cream and frozen foods in China will pay 75.6 million yuan (5514.8 million) for
      FILE PHOTO  -  309 words
    • 395 11  -  Stock price rises as much as 5.5% to 95.5 cents in active trading Reports by JEAN CHUA SHARES of Hongguo International were among the most active yesterday, mainly thanks to a married deal of 20 million shares in the morning. The stock of
      Source: Bloomberg  -  395 words
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  • SINGAPORE MARKETS
    • 878 12  -  CURRENCIES What this will mean for currencies in Singapore dollar terms LARRY WEE Senior Correspondent YOU know that the danger of more US dollar sell-offs has risen when even the smallest of US-dollar negatives become good enough reason to sell it with
      878 words
    • 996 12 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Dec 5 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ Buy/ Shares Per Before After Stodt Date Director Sell 000 Shr S (0°°) L 0 LeeKimTah 4-Dec-06 Lee Yong Chuan *Buy 121 0.51 fJHff 5? IUIm 62 00 LeeKimTah 4-Dec-06
      996 words
    • Article, Illustration
      759 12  -  Compiled by UMA SHANKARI Raffles Education D«c 5 dose: 551.77 CREDIT SUISSE. Dec 4 RAFFLES Education has announced that it would pay 5517.1 million to acquire a 20.16 per cent stake in Oriental Century, an operator of two schools in China with an aggregate enrolment base of more
      Source: Bloomberg  -  759 words
    • 508 12  -  STOCKS R SIVANITHY Senior Correspondent WALL Street's Monday bounce in the wake of renewed takeover activity and a drop in oil to below US$63 per barrel meant the local market responded in a predictable fashion yesterday with a stunning 51.27-point rally
      508 words

  • SINGAPORE NEWS
    • 550 13  -  OUTSOURCING TRENDS Firms in lower cost countries starting to outsource some functions: survey By OH BOON PING SINGAPORE turns out to be the third most popular destination for Asia-Pacific companies outsourcing their business processes within the region, beaten only by the
      550 words
    • 364 13  -  By CONRAD TAN TO ATTRACT more funds from the Middle East, Singapore needs to ensure that Islamic financial products and services do not suffer from tax or regulatory disadvantages, says the head of Islamic financial services at Ernst Young. "It's all about
      364 words
    • 547 13  -  By DANIEL BUENAS SINGAPORE'S efforts to outsource its public sector skills have met with initial success. The Singapore Cooperation Enterprise (SCE) the key vehicle to market and export the country's public sector expertise has inked at least five collaboration deals with foreign
      EDWIN KOO/ST  -  547 words
    • 435 14  -  Total investment to hit US$350m while employment to double to 700 By ANNA TEO WITHIN months of starting construction of their US$25O million biologies plant, Swiss specialty chemicals firm Lonza and Singapore's Bio* One Capital have inked a deal for
      435 words
    • 304 14 FOREIGN PROPERTY PLAYERS HONG KONG'S Park Hotel Group has revealed the design for a proposed project on the Collyer Quay site. It was one of eight bidders that made submissions for the site at a state tender which closed on Oct 17. Park
      304 words
    • 321 14  -  By UMA SHANKARI CHYAU Fwu Development, which is jointly headquartered in Hong Kong and Singapore, yesterday announced plans to enter the residential property market in Singapore with a new luxury development in Grange Road. Chyau Fwu will be building "no more
      321 words
    • SINGAPORE ROUNDUP
      • 46 14 THE government has sent US$5O,OOO worth of humanitarian relief supplies to the Philippines following the widespread damage caused by the floods and mudslides in southern Luzon. The Ministry of Foreign Affairs said the supplies included medicine, food, blankets and tents.
        46 words
      • 84 14 SINGAPORE Land Authority's (SLA) pilot tender for three "agri-tainment" sites in Lim Chu Kang yesterday drew a total of 12 bids ranging from $100,798 to $1.73 million. The sites are being offered for sale on 20-year leases. In addition to conventional agricultural uses, the
        84 words
      • 55 14 Rajah Tann bags top international award LOCAL law firm Rajah Tann won the International Law Office Client Choicfe Award for Singapore. The award is given out to one firm in each of 34 countries, with firms assessed on factors such as their ability to add value to their clients' business,
        55 words
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  • Page 14 Advertisements
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  • ECONOMY WATCH
    • 600 15  -  Analysts see BOJ raising overnight rate again this month to 0.5% By ANTHONY ROWLEY in Tokyo FOREIGN exchange markets continued to move nervously yesterday as market fears grew that the US economy is in poorer shape than previously believed. The US Federal
      BLOOMBERG  -  600 words
    • 654 15 Reuters [PARIS] As 2007 arrives, the US economy sneezes. But thanks to ultra-rapid growth in the world's most populous countries and a helping hand from western Europe, the world proves immune from a cold. That's the plot scripted by most economists for
      Reuters  -  654 words
    • 512 15 Bloomberg AFP [SEOUL] South Korea's economy will slow next year as demand cools in the country's biggest export markets and consumer spending slackens at home, the central bank said. Asia's third-largest economy will expand 4.4 per cent in 2007, down from 5
      Bloomberg; AFP  -  512 words
  • Page 15 Advertisements
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    • 73 15 II Presenting Sponsors: Official Makeup: Official Newspaper. I WVM V(VO ~/hl/"eido The business times I MORI lUILDINO I Official Sponsors: n Partnership with: I UUI JSL D yr SINGAPORE rS Supported by: I SINGAPORE EMBASSY MINISTRY OF FOREIGN wSf mmi 1 IN TOKYO AFFAIRS OF J APAN m |H>«>t Singapore
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  • MALAYSIA/INDONESIA
    • 526 16  -  Investors flee ahead of perceived permanent shelving of deal By S JAYASANKARAN in Kuala Lumpur SHARES in the New Straits Times Press (NSTP) and Utusan Melayu, two media companies whose planned merger was stalled by political considerations, tumbled 14-15 per cent
      526 words
    • 310 16 Reuters [JAKARTA] Indonesia's central bank is expected to cut interest rates by 50 basis points to 9.75 per cent tomorrow, taking the rate to its lowest in more than a year as inflation continues to fall. In a Reuters poll, 16
      Reuters  -  310 words
    • 402 16 Reuters [KUALA LUMPUR] Malaysia's ringgit could rise to 3.5 per dollar in the first quarter of 2007, a leading think tank said yesterday, as it called on the central bank to loosen its grip on the currency, Malaysian Institute of Economic
      Reuters; BLOOMBERG  -  402 words
    • 182 16 Reuters [JAKARTA] Malaysian conglomerate Genting Bhd plans to develop an Indonesian oil block after it found oil in two exploration wells in the block, an official at the Malaysian company said yesterday. Last month, Genting said tests showed one of the two wells in
      Reuters  -  182 words
    • 189 16 Reuters [JAKARTA] Egyptian cement company Orascom Construction Industries plans to build a cement plant in Indonesia with a capacity of a million tonnes per year for an investment of US$37O million, a local newspaper said yesterday. Bisnis Indonesia, quoting the chairman of Indonesia's
      Reuters  -  189 words
  • Page 16 Advertisements
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  • INDIA
    • 494 17  -  To grab attention in e-space, over 40,000 advertisers post ads on SEMs By PRIYANKA BHARDWAJ in New Delhi INTERNET advertising in India is fast moving from flashy boxes and sponsored links, to the new buzzword: search engine marketing (SEM). By end-2006, US advertisers will spend US$22
      494 words
    • 158 17 Reuters [NEW DELHI] Reliance Communications Ltd, India's sec-ond-ranked mobile services firm, is said to have invited bids for 90-100 million cellular lines valued at US$7-8 billion, the Economic Times newspaper reported yesterday. A spokesman for Reliance Communications declined to comment on the report,
      Reuters  -  158 words
    • 383 17 Reuters [MUMBAI] Star India has hired Bollywood's biggest star to revive the fortunes of its flagging "Who Wants To Be A Millionaire?" quiz show, but it may take more to cement its market leadership in the face of a resurgent rival and
      Reuters  -  383 words
    • 251 17 AFP [TOKYO] Fast-growing India and China can each pursue their ambitions despite inevitable competition, Indian Prime Minister Manmohan Singh said in remarks published yesterday. Mr Singh echoed remarks of Chinese President Hu Jintao, who on a landmark visit last month to In-
      AFP  -  251 words
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  • GREATER CHINA
    • 516 18/19 Group is 1 of 3 consortiums set to offer US$2.5-3b for right to run Transco IBEIJING] State Grid Corp, the larger of China's two power distributors, is partnering United States buyout firm Carlyle Group in a bid for the Philippines' govprn-ment-owned power
      516 words
    • 359 18/19 But it says it may soon issue 3G mobile licences Reuters IBKIJING] China is not currently considering a restructuring of the telecommunications industry, the country's top telecoms official told industry executives, but added it may issue third-generation (3G) mobile licences "very soon". Analysts
      Reuters  -  359 words
    • 253 18/19 AFP (BEIJING] China's state-owned enterprises (SOEs) may pay dividends to the government for the first time in over a decade next year, the Financial Times reported yesterday, citing the top official in charge of the state sector. The plan, which
      AFP  -  253 words
    • 465 18/19 [TAIPEI] Chinatrust Financial Holding Co's former vice-chairman Jeffrey Koo Jr, is now on the wanted list of Taiwan prosecutors after the expiry of a warrant for his arrest over alleged misuse of funds. Putting Koo, the son of one of Taiwan's richest men, on
      BLOOMBERG  -  465 words
    • 132 18/19 AP (BEIJING] Chinese economic planners met yesterday to set goals for 2007 amid efforts to keep the country's sizzling growth from racing out of control. Chinese authorities are faced with a tricky balancing act of sustaining economic growth to lift the nation's masses out
      AP  -  132 words
  • MIDDLE EAST
    • 416 18/19 Privatisation of state assets over next 2 years will include sale of stake in Bank of Alexandria Reuters [DUBAI) Egypt expects to earn at least 30 billion Egyptian pounds (SsB.oB billion) in the next two fiscal years from the sale of state assets,
      Reuters; BLOOMBERG  -  416 words
    • 247 18/19 Bloomberg [DUBAII Saudi Oger, a construction and management company controlled by Lebanon's Hariri family, was awarded a US$l billion contract to develop 1 million square metres of Julfar Island off the coast of Ras A 1 Khaimah in the United Arab Emirates (UAE).
      Bloomberg  -  247 words
    • 508 18/19 Report says club nearing £450m deal from DIC Reuters [DUBAI/LONDON] Liverpool confirmed on Monday they had entered into exclusive negotiations with stateowned Dubai International Capital (DIC) about a possible investment in the Premier League club. DIC] said earlier it would be "commencing due diligence in
      Reuters; AP  -  508 words
    • 302 18/19 Bloomberg IRIYADHI Saudi Basir Industries Corp (Sabic), the world's biggest chemicals maker by market value, may raise the price of its products because of the dollar's decline against the euro, the pound and the yen, the company's chief executive said. "Weakness
      Bloomberg  -  302 words
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  • ASIA-PACIFIC/WORLD
    • 550 20 Commodities boom lifts world rankings for resource-rich African countries Reuters [SINGAPORE] Zimbabwe's capital Harare ranks as the world's most expensive city for expatriates, displacing Oslo and Tokyo from the top slots, a human resources firm said yesterday. Resource-rich African countries climbed up the
      Reuters  -  550 words
    • 409 20 S'pore salaries to rise 4.7% in 2007, separate poll shows Reuters {HONG KONG] Accountants and executives in sales and marketing who switched jobs in China, Hong Kong or Singapore this year enjoyed average salary increases of 14.4 per cent, well above other industries, a survey
      Reuters  -  409 words
    • 419 20 It's the biggest fall in over 6 years and 3rd drop in 4 mths Reuters [WASHINGTON] New orders at US factories fell 4.7 per cent in October, the biggest fall in more than six years and marking the third drop in four months,
      Reuters  -  419 words
    • 235 20 Reuters [HELSINKI] Two per cent of adults have more than half of the world's wealth, including property and financial assets, according to a UN study. While global income is distributed unequally, the spread of wealth is even more skewed, the study by
      Reuters  -  235 words
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  • WORLD
    • 573 21 It is on track to be completed in the first quarter of 2007 Reuters [AMSTERDAM/PARIS] European regulators yesterday said unexpectedly they have no objections to the proposed US$l3.B billion merger between Euronext and NYSE, removing a hurdle for the first transatlantic stock exchange. Euronext,
      Reuters  -  573 words
    • 2335 21 VOL Gamuda .4.98 0.04 2486 DecS RM COOO) General Corp .0.68 0.01 122 Genting ..-.29.25 0.25 1283 A&M Realty 1.40 unch 0 George Kent .0.62 0.03 98 Abric .0.35 0.01 124 GHL Systems .0.27 0.04 ***** ACP Industries 129 0.04 301 Globetronics Tech .0.32 0.01 4434 Advance Synergy
      2,335 words
    • 359 21 Bloomberg [NEW YORK] Station Casinos Inc, the owner of 12 Las Vegas-area casinos, said its management offered to take the company private for US$4.7 billion, the industry's sec-ond-biggest takeover proposal this year. Chairman Frank Fertitta and his brother Lorenzo Fertitta, who is president,
      Bloomberg  -  359 words
    • 386 21 Bloomberg [ZURICH] Swiss Reinsurance Co, the world's largest reinsurer, said it is in "exclusive" talks with a potential buyer for the landmark London office building known as the "Gherkin". "We expect negotiations to close by early 2007," Zu-rich-based Swiss Re said
      Bloomberg; AFP  -  386 words
  • Page 21 Advertisements
    • 114 21 Natural BEAUTY A Hand-crafted, shoppe-finished solid hardwood floor. We combine old-world craftsmanship with the latest 21st century technology to create a tine high end flooring which is worked, stained and finished using a proprietary series ot processes. Discover tor yourself luxurious natural beauty at Wood Doctor. W/(x x I Doc
      114 words

  • AVIATION
    • 577 22 Company will handle initial development from own cash, sharing costs with suppliers NYT Bloomberg [FRANKFURT] Airbus said on Monday that it had no immediate plans to seek government-backed financing for its new wide-body aircraft, the A 350 XWB, avoiding another
      NYT; Bloomberg; AFP  -  577 words
    • 329 22 AFP [WASHINGTON] A new fullbody x-ray machine to be tested this month at a US airport has raised concerns about privacy issues with some rights advocates saying the technology amounts to a virtual strip search. The "Backscatter" machine to be used at
      AFP; AP  -  329 words
    • 268 22 [SINGAPORE] US aircraft leasing company International Lease Finance (ILFC) has deferred its order for 10 Airbus A3Bos to 2013 and beyond, as part of a renegotiated deal that includes switching its freighter orders to orders for passenger aircraft, according to a report. Flightglobal.com reported
      268 words
    • 255 22 Bloomberg [NEW DELHI] India, which targets a 20 percent rise in exports each year, said it may allow overseas investors to own a larger stake in cargo airlines to help ensure it has enough air-freight capacity. Overseas investors may be able
      Bloomberg  -  255 words
    • 435 22  -  By VEN SREENIVASAN [SINGAPOREI Singapore businesses spent some Ss6 billion this year on staff corporate travel, but they could have saved at least 10 per cent of this via the savvy use of professional payment systems, according to European travel management specialist
      435 words
    • 2160 22 CITY FU GMT ETA FUCHT FTD 9W18 1620 9W17 2310 QFI954 1620 Of3955 2310 S0456 1300 SQ141 1145 S0142 0935 X?i!!r LH9771 1740 LW9770 2350 K^J 3 J* 3 "J 14 1749 SQ2W £o »■■<*«< SQ5?1 0745 2235 Si44 1925 0645 2345 <>£' KUq 1605 W4
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  • Page 22 Miscellaneous
    • 144 22 CRYPTIC CROSSWORD 31 Dog may passto DOWN 2 Somewhat covered the Gast YESTERDAY'S SOLUTION 1 W th CamP nt b3t 15 Allocation of a growing con- fojtrayai, 12 Secondo, 2 Plan to help the over weight! 16 fop Naomi using a horse (8) 18 18 A crown topper (8) park,
      144 words

  • SHIPPING
    • 550 23  -  Company's move is in anticipation of growing demand for conversion hulls By DONALD URQUHART [SINGAPORE] With an estimated US$3O billion to be spent globally on deepwater floating production systems for oil and gas extraction over the next decade, Bergesen Worldwide (BW) Offshore has designed
      ARTHUR LEE  -  550 words
    • 452 23 AP [LOS ANGELES] Cargo shipping line APL said on Monday that it has begun using cleaner-burning fuels and will begin testing technology to reduce harmful emissions from its ships. APL, the container arm of Singapore's Neptune Orient Lines, said 23 of its
      AP  -  452 words
    • 401 23 Bloomberg IHONG KONG] Modern Ter-. minals Ltd, a Hong Kongbased container terminal operator, said it will invest as much as HK$lO billion (Ss2 billion) in Chinese ports over the next three years to tap the country's growing demand for sea freight. The company, majority
      Bloomberg  -  401 words
    • 283 23 SGX '000 Ooc5 ss w- m CM Offshore .0.44 331 5821 ChuanHio 031 unch 1002 Cosco Corporation 228 0.06 9444 CWT Distnbution 0 61 unch 199 Ezra HkJgs 3.74 -0.08 282 FreightUnks. .0.08 0.01 ***** Grand Banks Yacht 337 uncti IS JayaHoMngs V.44 0.01 999 K1 Venture 331
      283 words
    • 853 23  -  STRAIT TALK By DAVID HUGHES THE Christmas decorations are in the shops, the festive season is nearly here. That of course means just one thing to many in the shipping industry; it is time to think about insurance, and in particular liability insurance.
      853 words
  • Page 23 Advertisements
    • 217 23 In the matter of The Componies Act, Cop 50 And In the Mod* of MACRO MACHINERY INTERNATIONAL PTE LTD (Company No. *****5198*) (Incorporated in the Republic oi Singapore) NOTICE TO CREDITORS Of MEETING Notice is hereby given, pursuant to Section 296 of the Companies Act, Cop. 50, that meeting of
      217 words
    • 119 23 TUVALU SHIP REGISTRY SERVICE 1. Low taxes 5. Worldwide network of surveyors 2. Agreements with lACS members 6. No restriction on nationality of ownership ?rr > l rV y *i*.?n i nC f 7. Tuvalu is a party to STCW 1987 convention statutory certificates a# amen(Jed and country in the
      119 words
    • 82 23 59 DEVONSHIRE ROAD, DEVONSHIRE LODGE ENBLOC SALE BY TENDER Centrally located 7 access to amenities, MRT, J Orchard Road 7/ Su P trt > development potential Site area approx. 14,449 sq It Plot ratio 2.5, Freehold V r— Height control up to 36 storeys Modest investment in Prime Area Tender
      82 words

  • EDITORIAL & OPINION
    • 510 24 EDITORIAL STOCK markets everywhere have soared to all-time highs, making 2006 one of the best-performing years for equity markets. From Wall Street to Wellington, major indices stand at record levels. Clearly, investors have bought heavily into a "soft landing" economic scenario for the US and its implications
      510 words
    • 898 24  -  THE BOTTOM LINE LEON HADAR Washington Correspondent I'M NOT a financial speculator and I don't play one on television. So please don't base your decision on whether or not to bet against the US dollar on my thoughts about the fate
      898 words
    • 1443 24  -  It is racing ahead in Britain, growing at a roughly 40% annual rate, and it is expected to account for as much as 14% of overall advertising spending this year By ERIC PFANNER, LOUISE STORY IHT IF YOU want a glimpse of the
      IHT; AFP  -  1,443 words
    • 1279 25  -  Its top executives are being wooed from all directions as its economy booms By SARITHA RAI NYT IN OCTOBER, Google snared a prize catch in India, hiring the chief technology officer at Yahoo India to head its research and development centre here. Yahoo, meanwhile, moved a
      NYT; REUTERS  -  1,279 words
    • 409 25  -  LETTERS TO THE EDITOR Mak Yuen Teen Singapore I REFER to the thoughtful Hock Lock Siew column by Michelle Quah, entitled "Are Isetan IDs neglecting their duty?" (BT, Dec 5). If we go back to basics, corporate governance serves three purposes. First and foremost, it
      409 words
    • 344 25  -  Leong Sze Hian Singapore I REFER to Philip Tan's letter "Retirees have to play their part too" (BT, Dec 5) in response to your editorial, "Retirees need more financial help" (BT, Dec 1). It states that "the inchnation among some people to
      344 words
    • 146 25  -  Anthony CH Leong Singapore I REFER to the letter "Retirees have to play their part too" by Philip Tan (BT, Dec 5). Mr Tan appears to have his head in the right place but his heart is quite somewhere else. Retirees (and I
      146 words

  • Page 25 Advertisements
    • 103 25 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletterOsph.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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    • 124 25 company product*/ services WtKKttCmmmmmmmmS Business card sized 30Mfe CD-ROM Contact Stores videos, photos, graphics, tact Smrier Enterprises Pte lid •Card can contain Wo o« products, /n!fh f,s.JI7WUQ catahxjs, special events, etc interactive connection to your cornpawy's website email: Save papet provide more into all at to* cost spyderenwprisesfyahoocorrug M i
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    • 1125 25 IN THE MATTER Of THE COMPANIES ACT, CAP 50 ANO IN THE MATTER OF (1) MINAS FRENCH PTE. LTD (Company No *****7589R) (2) DEUGO PTE LTD (Company No. *****2605K) (In Creditors' Voluntary Liquidation) TAKE NOTICE that a meeting of the creditors in the above-named companies will, in pursuance of Section
      1,125 words

  • 6867 26 SGX MAINBOARD Transaction date: Dec 5 S2-Wk T«l Last Vol Day last Quote Ot* GfYM Hot MCap HW» low Codo Company Sate +<- COOP) High Urn j»y«f Sa»ar Cmt m J iu 6 ffi2T!zzzzzzzzzijo w 9.1 95 10 V9 105 479 2 ss a 9,1 1 »i 99
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  • Page 26 Advertisements

  • 5902 27 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES in tool cm la S In UtS %&f %yr %<»» %y* %dy %r 0«4 -0C» Chan— Ofna* OChug* Ov«nQ« Onom World mda» Pidmwaiy ***** tt6 1M Out 7< OS tf.1 I EAF£ PrefrTWBty ***** OS 91 03 113 04 201 Europe Prelwninaiy *****
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  • Page 28 Advertisements
    • 1623 28 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination DD LEADER RDM/ATW/BMN/TLB/NAN MATIRA CAM/NFK/NOL/SAV DD SUCCESS RDM/ATW/BMN/TLB/NAN Loads Singapore, E./W. Malaysia, Indonesia E /w Indonesia MIPPLE-EAST SERVICE F.E./S.E.A. SERVICE Destination r~ J SAFE DBI/ABU/DOH/BRN/DMM/KWT Destination PAN BRIGHT JDH/AQA/DMT STX PO TBN INC/BSN ASEAN GLORY DBI/ABU/DOH/BRN/DMM/KWT Loads Singapore, E./W. Malaysia, Indonesia Loads E.
      1,623 words
    • 752 28 Iwukaha KOKO SWVKK vßsa/vor rammd wghtw m kch to sm jkt STKAITS EXPRESS 9 30 4 15/11 14/11 ORCHID EXPRESS 15 50 43 23/12 24/12 ORCHID EXPRESS «3 50 4.5 21/12 30/1? AUSTRALIAN ROUP SIKVICi 1 vßsa/vor rampqui hbghhru m sw wn std m ape m «r |sw j to
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  • Page 29 Advertisements
    • 1468 29 WAN HAI INTERNATIONAL PTE LTD at NO: **********0/1 TH:*****588 (MUMS) FJUL*****163 W\WAN HAI LINES sssfflssusssL- V JOHIH; (07) 2518*23 FAX: 07)251W21 SUIIH: (031) JWS47S ML- Wl) BWH/ 1M1305 t<l KITMB3I)S2S4IUF*X;(O2I)S2S47Un*IH;7IUM/71 Oil fWt7l U7» www.wg..»i.t«iii.ss »1B: Oc 4 >/M3au 0» W< reiaw«6Mi «b mc but hb no t« 55! wo m_
      1,468 words
    • 1315 29 Irgn EASTERN CAR LINER, LTD V 1 I SPECIALIZE IN ROttO«. HEAVY LIFT UPTO 4SO TOWS MTtA-ASU SOVta VOT laf SM Tff PKUW) P*L(W) WW JKT Sf LQ —I ITU KUORNO YIISHOSTHIA S~ "50 12/12' 13/12~ It/1? 1 asustah ~K nt/\r ESTKLIA ETBtKA 121 40 13/12 14/1? I NOZOMI 11
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    • 658 29 i gjQiili&jx WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTS vtssa 1 vot I an rmm coco—o sheva cotomo tunGWDti onww o;dk out iidh hdk iipk uuiahapuh 01 iow i?qk hdk hdk hpk hdk HOUIBIMW |ffm>w| HDK WOK 73 OK HDK 30OK AliO ACGPTMG FG
      658 words

  • THE BUSINESS TIMES SHIPPING TIMES
    • 6788 30 This ETA ETA Advertiser Vessel Voy««« Telephone ETA ETA Aifcertlser Vessel T SIN Dest'n Name Name Number Number SIN Dettn Name Number ........."umoer 01/01 04/01 Sinokor MERKURSEA 002N *****516 To ABIDJAN (ABJ) 2003 Cote D'lvoire 03/01 07/01 pacc Com pac Palawan 762N *****655 16/12
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  • Page 30 Advertisements
    • 621 30 jg^UHKHH| I VtSSCL VOY PKI SIN KARACHI DXB BAB DMM BIK KHOR "I IRAN KORDCSTAN PCL 8173 09/12 18/12 21/12 22/12 28/12 30/12 01/01 IRAN TABATABAfI PCI 8174 11/12 12/12 21/12 24/12 23/12 31/12 02/01 04/01 IRAN SATTARI PCI 8177 18/12 19/12 28/12 31/12 01/01 07/01 09/01 11/01 VESSEL VOY
      621 words
    • 298 30 fm !»n— t SnrM!i! =aa=- B ~ii~= ~^=fii==fij= mum 111 m gtt w/ii I mm» _J__jsa__l__»Z»__L_»ZlL_ ill! i 111 a '11 in la Ia I ti»' Lll ll'g^ VBSfl VOY SW MSW GUDAWG CHTTAGOMG I Vwwl |Voy«r| m ttj I»f| td I »ti Itdlf 1 tJ f I «fl~| Yn
      298 words
    • 279 30 CONVENTIONAL SERVICE ETA SIN LOADING FOE 10 DEC MALE, COLOMBO 10 DEC CHENNAI 11 DEC BOMBAY 16 DEC DUBAI, DAMMAM, KUWAIT 24 DEC SHARJAH, DAMMAM, DOHA, KUWAIT fpil *6LOB Y^flVliflTlON^ROUpl I( since i*7« > OWNS A OPERATES THE YOUNGEST FLEET WITH TWELVE 7,000 DWT TWEEN DECKERS ICOVHUNO THE ENTIRE ASIA
      279 words


  • MOTORING
    • 516 32  -  S80 aimed at older men, while XC90 has features to appeal to both genders By SAMUEL EE WHEN it comes to big Volvos, the Singapore market seems to be a microcosm of the Swedish carmaker's world market and a bit more. According to Volvo's
      516 words
    • 416 32  -  Aim's to make them more clearly reflect links with the group By SAMUEL EE LAND transport giant ComfortDelGro Corp is kicking off a $400,000 rebranding exercise for its subsidiaries this month to leverage on its brand name. The mainboard-listed company will rename three companies CityLimo,
      416 words
  • Page 32 Advertisements
    • 210 32 I J I DON'T YOU THINK I ?C*£ t'£ i SYAHID DESERVES ■C I I YOUR SUPPORT? Brlu k Almost 8,000 students from financially-strapped families benefited from Cr I S? K iK/fl l\ The Straits Times School Pocket Money Fund last year. The fund provides fV/CS jl' 'j pocket money
      210 words

  • EXECUTIVE MONEY
    • 446 33 Institutional buyers moving in on arbitrage hurts insurer's profits Bloomberg [NEW YORK] American International Group Inc, the world's largest insurer, said it stopped offering a popular type of life insurance to US consumers older than 74 because so
      Bloomberg  -  446 words
    • 841 33  -  MONEY MATTERS Whichever direction oil is headed, the commodities derivatives exchange gains MICHAEL PREISS Nymex Holdings was the most white hot IPO since Chipolete Mexican Grill. Priced at US$59 by JP Morgan and Merrill, NMX (the Merc's symbol on the
      AP  -  841 words
    • 1149 34  -  Family wealth brings with it a host of thorny issues, from governance to succession, and consultants are standing by to help the rich deal with their money. GENEVIEVE CUA reports GENEVIEVE CUA THE saying that wealth is frittered away in three generations along with the family business is
      1,149 words
    • 582 34 THERE are a few broad principles that family businesses can pursue if they want to forestall conflict, maintain family ties and stop their wealth dwindling away. And Insead professor Randel Carlock has spelled them out. One is to ensure clear ownership and estate plans. "That's
      YEN MENG JIIN  -  582 words
    • 639 34  -  CHET CURRIER Bloomberg MONEY management's most famous critic, John C Bogle, has a new target. It's the fastgrowing business of exchange-traded funds, which he lately has been lambasting as a "U-turn for the worse". Mr Bogle, founder and retired chairman of the Vanguard
      Bloomberg  -  639 words
  • Page 33 Advertisements
    • 481 33 Introducing Jubilee Link Gain Notes Series 1. Credit-linked to 135 investment-grade worldwide companies, your investment is principal protected* with potential for high returns to complement your wealth portfolio. Investment begins in denominations of SGD 10,000 or USD 5,000. 100% principal protected*. Up to 225% (SGD Notes) or 300% (USD Notes)
      481 words
    • 1308 33 I WESTCOMB 1 FINANCIAL GROUP WESTCOMB FINANCIAL GROUP LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****4762G NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting ("EGM") of the Members of WESTCOMB FINANCIAL GROUP LIMITED (the "Company") will be held at 5 Shenton
      1,308 words

  • Page 34 Advertisements
    • 154 34 MONEY MATTERS Looking for a hot story? Bet on Nymex page 33 Choose a world leader for a professional FX trading service. We offer tight spreads on *****118 I 3" m^°r 3n( 3 ran^ 8 eXOt CS US 00 S l3reS n^,ces anc more j jg M Spreads from 2
      154 words