The Business Times, 16 December 2006

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Total Pages: 20
1 20 The Business Times
  • 25 1 THE BUSINESS TIMES vth ANNIVERSARY s> SINGAPORE 85 cents A SINGAPORE PRESS HOLDINGS PUBLICATION MICA (P) 099/03/2006 December 16 17, 2006 online at http 'business-times.asial.com.sg
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  • 1013 1  -  It says it is ready to work with Genting to promote IRs in face of strong competition worldwide By UMA SHANKARI, ARTHUR SIM [SINGAPORE] Las Vegas Sands says it looks forward to working with Genting International to promote Singapore's upcoming integrated resorts (IRs), after Genting
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  • 574 1  -  By YEN SREENIVASAN [SINGAPORE] Bank of China (BOC) has edged out Dubai Aerospace and Japan's Mitsubishi Corp to clinch Singapore Aircraft Leasing Enterprise (SALE) for US$965 million (551.49 billion). This means Singapore Airlines (SIA), which owns a 35.5 per cent stake in SALE, stands to
    574 words
  • Page 1 Advertisements
    • 10 1 JUU UKJJU SINGAI RAFFLES CONVERSATION Hbk Mary Ann Tk» on
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    • 20 1 $28m PENTHOUSE So who bought the über pad in the sky at Marina? 11l 8 Markets Digest on Page 2
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    • 52 1 V WHAT MOTORING Books and gifts forcarlovere RICHARD MAMNONO PAGE 15 TOP EARNERS Bollywood stars lose out to corporate honchos r\ ■l- 3JL E*b. PAGE 13 HEPrande Complication Tourbillon and 24-Hour Time Display ***** A 1 ■MlrM Breguet SA. Vallde de Joux, Switzerland www.breguet.com ttte Breguet authorised retailers and catalogues:
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  • TOP STORIES
    • 461 2  -  Consortium linked to Stanley Ho family buys 6 penthouses for over $90m: sources By KALPANA RASHIWALA [SINGAPORE] A consortium linked to Macau casino tycoon Stanley Ho, and which includes Japanese and possibly Hong Kong investors, is said to have bought the 11,012-square-feet über
      461 words
    • 625 2 Our views of the world are actually very similar: Soros Reuters [KUALA LUMPUR] Malaysia's former prime minister Mahathir Mohamad and financier George Soros once called each other "moron" and "menace", but they met for the first time yesterday and buried the hatchet. Declaring that
      Reuters; AP  -  625 words
    • 130 2 STI 2,931.29 (+15.01) ST INDEX FUTURES 2,927.00 (+15.00) SIMSCI 357.63 (+2.88) SIMSCI FUTURES 357.50 (+3.90) MARKETS Friday Change KLCOMP 1,069.32 +13.85 NIKKEI 225 16,914.31 +85.11 HANG SENG 19,110.65 +191.25 SET INDEX 736-29 +3.89 JAKARTA COMP 1.792.16 +24.36 MANILA COMP 2.856.29 +23.02 SEOUL COMP 1,421.87 +3.49 SHENZHEN B *****
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    • 646 2  -  SATURDAY SOAPBOX One young aspiring owner waits for the next property bust... JEAN CHUA Reporter I HAVE missed the boat. A home in a private development is beyond my reach now. This wasn't the case two years ago. At the end of 2004, I
      646 words
    • 493 2 Wilmar's USs4.3b Kuok deal seen helping Synergy Drive WILMAR International's US$4.3 billion proposed takeover of Kuok agribusiness assets is likely to galvanise the creation of Synergy Drive, a merger of three large plantation-linked firms to create what has been touted as the world's largest listed oil palm company.
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  • Page 2 Advertisements
    • 30 2 BT ONLINE BT print subscribers get free access to the Business Times Online. To activate your account log on to http://business-times.asia 1 .com.sg. For more information, e-mail btocs@sph.com.sg orcall 6388-3838.
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  • RAFFLES CONVERSATION
    • 2644 3 Paediatrician-turned-philanthropist Mary Ann Tsao talks to JAIME EE about her move from fixing bodies to public health policies IF her life were turned into a movie or a book, it could well be titled: How Mary Ann Tsao Found Her Groove and Discovered Her Inner Angel. In
      YEN MENG JIIN  -  2,644 words
  • Page 3 Advertisements
    • 61 3 Raffles Hotels Resorts The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels and Resorts. The Traveller's Palm in the Raffles Hotels and Resorts logo is an apt symbol. Not only has water stored at the base of this palm provided sustenance, the leaves rest in
      61 words

  • COMPANY NEWS
    • 353 4 Bloomberg [SYDNEY] Grand Hotel Group, which operates the §yatt chain in Australia, agreed to an increased takeover offer from Singapore's Tuan Sing Holdings Ltd and Morgan Stanley's real estate unit, scrapping plans to wind up the company. Tuan Sing, which owns
      Bloomberg  -  353 words
    • 284 4  -  By JEAN CHUA SINGAPURA Finance has proposed to reward shareholders with an interim bonus dividend of 31.25 cents and to issue rights shares to shore up its capital base following the payout. One rights share will be issued at $1.25 for
      284 words
    • 898 4  -  It could silence critics of a M'sian plan to create an oil palm behemoth By S JAYASANKARAN in Kuala Lumpur SINGAPORE'S Wilmar International's US$4.3 billion proposed takeover of the Malaysian agribusinesses of tycoon Robert Kuok will further consolidate the global palm oil industry.
      898 words
    • 289 4  -  By KALPANA RASHIWALA CAPITALAND yesterday clinched its third residential site in Foshan City in China's Guangdong province. boosting its pipeline to about 2,000 homes in the city. Subsidiary Capita Land China Holdings secured the prime residential site at a state land tender yesterday
      FILE PHOTO  -  289 words
    • 500 4  -  STOCKS R SIVANITHY Senior Correspondent EVERY week over the past three weeks, a new leader has emerged to send the Straits Times Index to an all-time high and, in the process, help support sentiment in the broad market. In the second
      500 words
  • Page 4 Advertisements
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  • Page 5 Advertisements
    • 1303 5 :|BH§|^,l' "'^IIIISF ,aJ .i|iasgwi|BWßßssiKß|»cSwflßßp '^aTvPvv ■BPP^S39B. '^^^^^^p^B^^^BW|^^Wl^^K3BK^^^Bfc|M^Kij3Ep&Mß^>Sßßß|^Ka|^^^Mlß^^B^Wß^WßßHßBH^Bßl^B IToday, Kazakhstan celebrates Its 15tti anniversary of independence. Back In 1991, there Close collaboration between Government and private sector 1 were serious doubts about whether Kazakhstan the 9th largest country in the world in Government incisures include solving systemic problems m terms of
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  • PERSONAL INVESTMENT
    • Article, Illustration
      690 6  -  Compiled by MATTHEW PHAN J Ho Bee Investment D#c 15 dose $1.26 PHIIUP SECURITIES RESEARCH. Due IS IN THE past month, Ho Bee has made *l«rr. o/ntMUchrs 1„_ J| fn+ two aggressive lanci acquisiuons ior aethe Waterfront Collection at Sentosa Cove; bought two industrial properties Land Building; bought
      Source: Bloomberg  -  690 words
    • 969 6 For week beginning Dec 11 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Subsantlal Me of Mm SMAJMMOUNm Tram Sharehokler/ M nam Par Mm MM Stock Date Mrectar Ca- Ht »r» C003) C«W> Laa Kim Tah 14-Dec-06 Lee Yong Chuan «6uy 73 0.S1 *****4 61 80 *****7 61.11 LeeKimTeh H Dec06
      969 words
    • 1192 6  -  SHOW ME THE MONEY Can one really spot the country funds that will yield the greatest returns? TEH HOOI LING Senior Correspondent IN THE last 20-odd years, you could have nearly dou: bled your money every year—except for five or six years had you picked the
      1,192 words
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  • COMPANY NEWS
    • 690 7 PM Howard says duopoly depends on circumstances year to year Bloomberg Reuters [SYDNEY] Qantas Airways does not have a guarantee that Singapore Airlines (SIA) will be prohibited from flying the transpacific route to the US, Australian Prime Minister John Howard said yesterday. Qantas's acceptance on
      Bloomberg; Reuters; REUTERS  -  690 words
    • 250 7 Reuters [BANGKOK] Thai Copper Industries PCL, Thailand's first and only copper smelter, said yesterday it planned to list in Singapore next year to raise funds for expansion. The smelter scrapped plans to list in Thailand because it failed to meet some performance regulations
      Reuters  -  250 words
    • 358 7 Bloomberg SINGAPORE Airlines Ltd, the world's largest carrier by market value, filled more of its total capacity and carried a record number of passengers in November, boosted by growth in demand for travel. The airline packed an average 70 per cent of
      Bloomberg  -  358 words
    • COMPANY BRIEFS
      • 39 7 DATAPULSE says net profit for the three months to Oct 31 rose 74.1 per cent to $1.65 million. Revenue rose 0.4 per cent to $15.38 million. Earnings per share rose to 0.26 cent.
        39 words
      • 59 7 LORENZO International expects a full-year net profit of $1.5 million to $1.8 million after deduction of IPO expenses. It also says it has increased its retail chain stores from 15 to 17 in Malaysia and from nine to 11 in Taiwan, and
        59 words
      • 38 7 ADDVALUE Technologies and its subsidiary Addvalue Communications have agreed with Sun Media Investment Holdings. New Eager Investments, Novusasia Capital and Asia Network Technologies to end their technology agreement with Asia Network Technologies.
        38 words
      • 49 7 SINGAPORE Petroleum Company's wholly owned subsidiary Singapore Petroleum (China) and its partner Jiangmen City Gas Corporation have each sold their 50 per cent stakes in Jiangmen City Sinjiang Gas Co. The buyer, Zhuhai Gas Co, will pay 57.8 million yuan (Ssl 1.3 million).
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      • 34 7 IPCO International's net profit for the six months to Oct3l fell 62.3 per cent from $5.55 million to $2.1 million. Revenue rose 0.7 per cent to $19.63 million.
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  • Page 7 Advertisements
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  • SINGAPORE NEWS
    • 484 8  -  The vision is for an urban infrastructure within a tropical garden By VINCENT WEE SINGAPORE'S development as a city will see it evolving from a garden city into a city in a garden, said President SR Nathan at the Singapore
      JOYCE FANG/ST  -  484 words
    • 261 8 ALONG with the new year, the People's Association (PA) will welcome a new deputy chief. Prime Minister and PA chairman Lee Hsien Loong yesterday appointed Lim Boon Heng as deputy chairman of the PA for three years from Jan 1,
      261 words
    • 4398 8 UNIT TRUSTS FUNDS ABEmgMktsBUSD 29* ABAnar Income AT SGD 13.4* AB Amer Income BT SGD 13 V A"™*"* (Spore) AS Amer Income AT USD i.7* SlarEaopeEflrf" 1-052/ AS Amer Income BT USD IXI Star Etxope Bond 121/ AB Amer Income A USO 1.73/ AB Amer Income B USD 173/ StaAsianTigerEqty
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    • 149 9  -  By YEN MENG JIIN TWO girls writing their wishes on these special white spheres (top photo) for the coming new year at die Esplanade. The spheres behind the boat (above) are part of a total of 5,000 spheres, which is double the number
      PHOTOS: YEN MENG JIIN  -  149 words
    • 292 9 Bloomberg SINGAPORE'S retail sales growth slowed for a fifth straight month in October as smoke haze from forest fires in neighbouring Indonesia kept consumers home. The retail sales index rose 1.6 per cent from a year earlier, after gaining 1.7 per
      Bloomberg  -  292 words
    • SINGAPORE ROUNDUP
      • 39 9 MINISTER for Trade and Industry Lim Hng Kiang officially opened the Management Development Institute of Singapore Business School yesterday. The school announced that it would invest a further $3.45 million to upgrade its infrastructure.
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      • 81 9 A DELEGATION of Jiangsu party and government officials led by Nanjing Party Secretary Luo Zhijun called on Senior Minister Goh Chok Tong yesterday. They discussed ways to enhance the competitiveness of the Suzhou Industrial Park (SIP) and help transfer the experiences of the SIP
        81 words
      • 61 9 THE Agency for Science and Technology Research (A*Star) yesterday announced the appointment of a new managing director. It said that Yena Lim Hua Yen, currently "its deputy managing director (policy and human resource), will take over from Boon Swan Foo on Jan 4. Mr Boon will
        61 words
    • 584 9  -  Numbers expected to increase further in Q4, no inflation threat: MOM report By CHUANG PECK MING SINGAPORE'S economy has continued to work overtime. cranking up a record number of jobs in the JulySeptember quarter. And the pace does not look like slackening any time
      Source: Labour M Report, 2006, Ministry of Manpower  -  584 words
  • Page 8 Advertisements
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  • Page 9 Advertisements
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  • MALAYSIA
    • 329 10 Malaysia and Indonesia agree to set up joint police committee Reuters [JAKARTA] Joint patrols have been successful in reducing pirate attacks in the Malacca Strait, one of the world's busiest waterways, the Malaysian defence minister said yesterday. The four South-east Asian nations guarding
      Reuters  -  329 words
    • 338 10 [KUALA LUMPUR] Tenaga Nasional Bhd (TNB) will award a 300-megawatt (MW) power plant concession in Sabah to an independent power producer (IPP) in the first quarter of 2007, Malaysia's Business Times reported. TNB chairman Leo Moggie said the plant is expected to
      BLOOMBERG  -  338 words
    • 6684 10 Transaction date: Dec 15 52-Wk Td Lact Vol Day LactQuot* Mr GrYM Nil MCap Wgh Low Cade Coiinnwy M* HWB) Wah t—> >nyer UDm CV Wi Sadl 3.5 J 5716 1st Software 25 -05 254 3 2.5 2.5 3 1CL1 11.5 6 3148 STetecom 8.5 -0.5 371 9
      6,684 words
    • 322 10 [KUALA LUMPUR] South Johor's Iskandar Development Region (IDR) will require RM47 billion (5520.4 billion) Worth of investments to generate its economic growth between 2006 and 2010, says Minister in the Prime Minister's Department Effendi Norwawi. Another RM335 billion will need to be pumped into
      322 words

  • INDONESIA
    • 534 11 Govt aims to produce over 15,000 tonnes of biofuel from the plant by end-2007: official Reuters [JAKARTA] Indonesia may be the first country in the world to commercially use biofuel produced from jatropha, a hardy drought-resistant shrub that produces an oil convertible
      Reuters; REUTERS  -  534 words
    • 5638 11 Transaction Date: Dec 15 MOST ACTIVE STOCKS VOLUME VALUE Thai Beverage 60.577.000 SingTel 12S.035.755 CCCC RB eCWO***** 52.572.000 Wilmy 95.344.400 Auston 50.020.000 CapitaLand 81.885.600 Wilmar 45.436.000 OCBC Bk 77.573.250 SingTel 39.215.000 CCCCRB >*****606 6S.553.395 Sunninqdale 33.916.000 UOB 62.043.000 Sapphire 30.642.000 DBSGrp 55.578.800 ArianeCorp 29.370.000 SIA 49.101.200 Gen Irrtl 25.813.000
      5,638 words

  • GREATER CHINA
    • 537 12 US officials want a stronger yuan to help cut its record trade deficit Reuters [BEIJING] China and the United States agreed broad steps yesterday to tackle global economic imbalances as two days of talks to ease trade and currency strains ended with good
      Reuters  -  537 words
    • 132 12 Reuters [HONG KONG] Chinese port operator China Merchants Holdings (International) Co Ltd will increase its control of Shenzhen's Shekou port in a US$4O6 million deal to benefit from booming sea traffic in China. China Merchants said yesterday that it would pay HK$l.39
      Reuters  -  132 words
    • 457 12 Hotel company Shanghai Jin Jiang puts up best first-day showing this year Reuters [HONG KONG] Three Hong Kong IPOs roared out of the gate yesterday, hitting highs of between 38 per cent and 91 per cent up on their trading debuts
      Reuters  -  457 words
    • 69 12 [SHANGHAI]A Chinese tries out a cocktail during Christmas promotion at a shopping centre in Shanghai. China's economic boom and increased Westernisation have fuelled a major rise in alcohol abuse over the past 20 years, a top Chinese psychiatrist warned recently, and a World Health Organisation-sponsored study showed
      AFP  -  69 words
    • 368 12 IPO RUSH Reuters [SHANGHAl] China yesterday said it will list more quality companies, including large firms and highgrowth enterprises, and encourage mergers and acquisitions (M&As) among listed companies to improve the health of the country's stock market The government will pass a rule "at
      Reuters  -  368 words
    • 199 12 Court case stalled after she fainted, and hospitalised Bloomberg [TAIPEI] Wu Shu-chen, the wife of Taiwan President Chen Shui-bian, pleaded not guilty to corruption charges at the start of her trial yesterday, which was interrupted when she fainted and was taken to a hospital.
      Bloomberg  -  199 words
    • 290 12 Reuters [SHANGHAI] China Life Insurance Co, the country's biggest life insurer, yesterday won regulatory approval to list here in an initial public offer (IPO) that is expected to raise over 25 billion yuan (554.9 billion). The China Securities Regulatory Commission said
      Reuters  -  290 words
  • Page 12 Advertisements
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  • INDIA
    • 713 13  -  CEO compensation approaching world levels, says business magazine By KHALID HUSAIN [SINGAPORE] Until a few years ago, Bollywood stars were the highest-paid people in India. But now they have been outshone by a new a breed of "stars" the head honchos of India's corporate
      AFP  -  713 words
    • 2280 13 VOl Gamuda .432 0.04 576 BtB M* -W- rtm General Corp. ACS unch 33 Gentina .32.00 -0.50 3823 AAM Realty 1.33 unch 6 George Kent 3.57 -0-01 20 Abrk 0.32 undi 260 GHLSysterrv 023 -0j01 2380 ACP Industries 1.19 -0.02 346 GtobetronksTech.... 029 unch 3039 Advance Synergy 0.23
      2,280 words
    • 503 13 Promises to improve infrastructure AFP [TOKYO] Indian Prime Minister Manmohan Singh yesterday pledged to make India more attractive to foreign investors as he agreed to start negotiations on a free trade agreement with Asia's largest economy, Japan. Mr Singh lobbied business leaders
      AFP  -  503 words
    • 452 13 Bloomberg [NEW DELHI] Fiat Auto SpA, Italy's largest carmaker, and Tata Motors Ltd will invest as much as US$B95 million to make cars and parts in India, where only seven in 1,000 people own a vehicle. The venture will have a
      Bloomberg  -  452 words
    • 201 13 Bloomberg [SINGAPORE] Blackstone Group LP, manager of the world's biggest buyout fund, and Reliance Communications Ltd may offer about US$l4 oillion to buy Hutchison Essar Ltd, two people with direct knowledge of the transaction said. New York-based Blackstone and Reliance Communications
      Bloomberg  -  201 words

  • ASIA-PACIFIC/WORLD
    • 597 14 Angola to join in '07, becoming the group's first new member since 1975 Reuters NYT [LONDON] Oil edged up towards US$63 a barrel yesterday after Opec agreed to cut supply for a second time in two months, underlining its desire to
      Reuters; NYT  -  597 words
    • 408 14  -  By ROLAND LIM ELECTRONIC payment specialist First Data International (FDI) and Standard Chartered yesterday jointly announced their plan to set up a Singapore-headquar-tered joint venture that will aim to expand Standard Chartered's merchant network across seven Asian countries. First Data will
      408 words
    • 443 14 LAT-WP [WASHINGTON] Responding to a chorus of complaints, US regulators on Wednesday moved to give companies more leeway in complying with financial reporting rules imposed by 2002's Sarbanes-Oxley corporate-reform law. Securities and Exchange Commission (SEC) chairman Christopher Cox said the sweeping agenda was
      LAT-WP  -  443 words
    • 615 14  -  By OUR CORRESPONDENT in Bangkok THE shares of Thai television operator iTV got a respite yesterday after the Thai authorities announced that an amicable solution should be found for the company's crisis. iTV, which is more than 50 per cent owned
      BLOOMBERG  -  615 words
    • 548 14  -  By ANTHONY ROWLEY in Tokyo CONFIDENCE among Japan's leading manufacturers hit a two-year high in December, and non-manu-facturing companies were more confident than at any time since the bubble economy burst 15 years ago, the Bank of Japan (BOJ) said yesterday
      548 words
    • 465 14 LATEST US DATA AP Bloomberg [WASHINGTON] Consumer inflation was a no-show in November as Americans enjoyed a third straight month of price relief led by big declines in energy costs. Meanwhile, industrial production staged a rebound led by rising output at car factories. The Labor
      AP; Bloomberg  -  465 words
    • 333 14 Reuters [TOKYO/LONDON] Japan Tobacco Inc has agreed to buy British cigarette maker Gallaher Group Pic for £7.5 billion (5522.7 billion) in cash, the two companies announced yesterday, the biggest-ever foreign acquisition by a Japanese company. Analysts said the takeover could help Japan Tobacco
      Reuters  -  333 words

  • MOTORING
    • Article, Illustration
      668 15  -  SAMUEL EE looks at some books for autophiles to snuggle up with over the long Christmas weekend SAMUEL EE The Car Design Yearbook 5 By Stephen Newbury MerreUy $72.50,319 pages The fifth in a series of annual guides, it covers new concept and production cars launched worldwide between
      668 words
    • 675 15 DON'T know what to buy this Christmas for the car nut you know? Depending on your budget, you can pick one of the following gifts from $60 to $6,600 Bosch bulbs, from $60 A new range of after-market car light bulbs from Bosch
      675 words

  • GOLF
    • 1445 16  -  JUSTINE MOSS suggests a wide variety of gift ideas for the avid golfer during this holiday season JUSTINE MOSS WITH Christmas just around the corner, for many this is a time of scouring the Christmas catalogues and pounding pavements or shopping mall corridors in search of that
      1,445 words
  • Page 16 Advertisements
    • 385 16 firine&dine withweekendBT Traders Hotel Singapore TheCafe, The Legends Fort Canning Parte Jm To kid off the festive celebratk>n,Caf Georges will be ||delicious desserts or a glass of wine. Lunch: $39+++ per Food&Beverage hoUine: *****375 Tel. 63SS 6127 featuring new contemporary dishes with Christmas person; dinner. Sunday to Wednesday, $43+++ per
      385 words

  • WELLNESS
    • 749 17  -  Independent and innovative brands are making headway in the markets of the US, Europe and Singapore, reports CHEAH UI-HOON CHEAH UI-HOON TOSS a feather in a beauty hall in any department store and it will most likely land on a product that's owned by one of the
      749 words
  • Page 17 Miscellaneous
    • 148 17 CRYPTIC CROSSWORD 1 14 During escape that's provid- Across: jrgetfc -Pc >er 1 soundlv creatina a din (6) during plane iourney (2-6) Repeater, 11 Hughes, 12 Flee, 13 2 Metal drawer 15 sin 9 1e SlSter Computer, 15 Riptide, 17 Icepick, 3 More than just damp clothes 17 A mature
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  • Page 18 Advertisements
    • 446 18 FOR THE TINY TOTS FOR THE GRANDPARENTS -#«PP 11 By |y p fl ®Ps£ m p -V <V w FOR THE LADIES jMBB w J v y r mfr CHEAH UI-HOON and NOOR AISHA offer suggestions for gifts sure to please your loved ones FAMILY TIES I Mm I Til
      446 words

  • PERSONAL SPACE
    • Article, Illustration
      249 19  -  IF there's one category of gifts that never goes out of style, it has to be gifts for the home. From spice mills to rugs, there is no lack of choices for you to pick from for a friend or relative's home. CHEAH UI-HOON and NOOR AISHA look at
      249 words

  • THE BUSINESS TIMES weekend
    • 1268 20  -  From non-contact thermometer to tableware to espresso machine, JAIME EE serves up diverse Christmas gift offerings for the kitchen-bound JAIME EE THERE are several things to bear in mind when shopping for foodies. Most of the time, they don't really know what they want, or
      1,268 words