The Business Times, 19 December 2006
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2006-12-19
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The Business Times
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Title Section20 2006-12-19 1 THE BUSINESS TIMES i^&v V^NGAPOREBStenii online at http://business-times.asialxom.sg r A SINGAPORE PRESS HOLDINGS PUBLICATION MICA (P) 099/03/2006 Tuesday December 19,200620 words
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Article, Illustration735 2006-12-19 1 KALPANA RASHIWALA - At 26%, the proportion in Q3 is the lowest in 12 years By KALPANA RASHIWALA [SINGAPORE] The rise in private home prices could be pricing HDB upgraders out of the private residential market, market watchers say. The percentage of caveats for privateSource UFA - 735 words
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585 2006-12-19 1 Banks to lock up 30% of new forex deposits for a year Bloomberg Reuters [BANGKOK] Thailand's banking regulators yesterday announced new measures to force speculators to keep their money in the country for at least one year or face stiff financialBloomberg; Reuters - 585 words
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Article130 2006-12-19 1 sn 2,963.44.(+32.15) ST INDEX FUTURES 2.958.00 (+31.00) SIMSCJ 361.59 (+3.96) SIMSa FUTURES 361.30 (+3.80) MARKETS Monday Change KLCOMP 1,081.60 -7.72 NIKKEI 225 16,962.11 +47.80 HANG SENG 19.192.91 +82-26 SET INDEX 730.55 -5.74 JAKARTA COMP 1,787.62 -4.54 MANILA COMP 2.877.83 +21.54 SEOUL COMP 1,433.23 +11.36 SHENZHEN 8 ***** +13.03130 words
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Page 1 Advertisements
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Advertisement7 2006-12-19 1 STOCK OPTIONS options to all China staff7 words
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Advertisement140 2006-12-19 1 PROPERTY jpoo Land sets benchmark at Colder Quay PAGE 8 S. x f\ t 'i. ~L>t V 4 v. t EE x" > A-< i >* Ill— IMI Ml m ■—INI 111 ll—■ —Ill— W IT—!—■! IT ■II f I 111 I 1 o ULYSSE, NARDIN f f: > v\140 words
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Advertisement52 2006-12-19 1 SHQ ROUNDTABLE Fbrex outlook for 2007 i I_ 3 I Mil i JjK^HRH HIE y sjrj^-^PBPfjMB HP v ir^^' I Br %^p^| Singapore's fine wine investors soakup profits PAGE 3 VV W '-v -># 'f V v *"s A great investment if you can resist thsp£iss) drink it PAGE 352 words
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TOP STORIES
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537 2006-12-19 2 ANNA TEO - But Singapore's electronics exports decline for second straight month By ANNA TEO [SINGAPORE] A surge in pharmaceutical shipments offset a second straight decline in electronics exports last month, leading to an 8 per cent jump in total nonoil exports from Singapore. But537 words
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Article, Illustration537 2006-12-19 2 AFP [SAN FRANCISCO] Silicon Valley may be leading the way in the technology sector, but the information technology (IT) hub is still lagging behind when it comes to the battle of the sexes, a recent study has shown.AFP; BLOOMBERG - 537 words
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Article460 2006-12-19 2 S'pore fine wine investors soak in profits FINE wine investing is seeing a renaissance, and affluent Asians are very much part of this. SG Private Bank reports keen interest in its tailored offering "The Ultimate Wine Fund", set up last year specifically for Asian clients. And recently, BNP460 words
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469 2006-12-19 2 SIOW LI SEN - By SIOW LI SEN [SINGAPORE] Mobile One says it is reviewing its entire policy for its wireless Internet service following complaints about limits on usage. Users of Mi's Internet service have noted that the company sets a limit on usage for a service469 words
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Article54 2006-12-19 2 IN "Jobs created in Q3 hit record-high" (BT, Dec 16-17), we said that the number of jobs created in Singapore in the July-Sep-tember quarter reached a record high. It was the jobs created in the first nine months of this year that was at a record high. We are54 words
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Article, Illustration818 2006-12-19 3 GENEVIEVE CUA - Interest in the niche market is growing with Asia's rising affluence By GENEVIEVE CUA [SINGAPORE] Investors here might be tempted to drink a toast to the profits to be made from fine wine thus falling victim to what is said to be theYEN MENG JIIN - 818 words
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719 2006-12-19 3 KEVIN HASSETT - By KEVIN HASSETT Bloomberg WINE lovers had a great year in 2006. First, we found out that resveratrol, a key ingredient in wine, may prevent ageing. Later, a study suggested it may help prevent obesity and diabetes. ButBloomberg - 719 words
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Advertisement21 2006-12-19 2 HOT IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg21 words
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Advertisement10 2006-12-19 2 people Your search ends here. www.thepeopieatvvork.com- I Asia-Pacific Executive Search10 words
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COMPANY NEWS
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Article, Illustration461 2006-12-19 4 DANIEL BUENAS - Shareholders call for EGM to replace CEO, 2 others with new directors By DANIEL BUENAS A BOARDROOM battle is in the offing at China-linked Hengxin Technology. Shareholders of the company, including a nonexecutive director, have called for an extraordinary general meeting (EGM) to remove461 words
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228 2006-12-19 4 $NGAPORE Telecommunications has teamed up with 4 company in Bangladesh to offer Internet services to businesses there. Sing Tel announced yesterday that it and Advance Qata Networks System Ltd (ADNSL) will jointly offer tjie first international IPVPN in Bangladesh. IP-VPN refers to Inter-i|et-based virtual228 words
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599 2006-12-19 4 S JAYASANKARAN - HOCK LOCK SIEW By S JAYASANKARAN THE US$2.7 billion takeover of the agribusiness assets of PPB, a conglomerate built up by Malaysian tycoon Robert Kuok, by Singapore-based Wilmar International is arguably the biggest crossborder deal between the two countries. As befitting the scale of599 words
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664 2006-12-19 4 OH BOON PING - OCBC report also forecasts more M&A deals By OH BOON PING THIS year's strong market momentum should continue into the new year, says OCBC Investment Research. wbfch has also identified such trends as an increase in merger acquisition (M&A) activities here in 2007.664 words
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Article, Illustration561 2006-12-19 5 MATTHEW PHAN - Activity seen driven by strong supply of private equity capital By MATTHEW PHAN THE Asia-Pacific region will continue to see robust activity in mergers and acquisitions (M&A) in 2007, driven by a strong supply of private equity capital, while in Singapore,Source - 561 words
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COMPANY BRIEFS
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96 2006-12-19 5 kl VENTURES Limited yesterday said that it had readjusted the exercise prices 0f230 million warrants issued in 2002 and 38 million warrants issued in 2005. The exercise prices of the 2002 warrants have been adjusted to 14 cents, 17 cents and 19 cents per new96 words
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Article68 2006-12-19 5 SURFACE Mount Technology (Holdings) has appointed Lo Wai Kwok, 54, as managing director of the company effective yesterday. The MD will be responsible for overseeing the business operations of the company with specific emphasis on manufacturing and new business development. Surface Mount Technology also said68 words
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Article67 2006-12-19 5 SEMBCORP Industries announced yesterday that its dormant subsidiary, Bintan Carrier Services Pte Ltd (Bintan Carrier) and its inactive wholly owned subsidiaries, Sembawang Investments Pte Ltd (Semblnv) and SembFood Pte Ltd (SembFood), have been placed under members voluntary liquidation. Teo Ban Seng has been appointed as the67 words
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75 2006-12-19 5 ABTERRA Limited yesterday announced a proposed placement of up to 290 million new shares at an issue price of 2 cents each, representing about 12.57 per cent of the company's existing issued share capital. The company said the proceeds from the75 words
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61 2006-12-19 5 FEDERAL International (2000) Ltd yesterday announced a proposed renounceable non-underwritten rights issue of up to about 63 million shares at an issue price of 28 cents for each rights share, on the basis of one rights share for every four shares. The company also announced61 words
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57 2006-12-19 5 LMA International NV (LMA), which deals in the development and marketing of supraglottic airway management devices, has filed a lawsuit against Ambu SARL (Ambu) in France. The action filed yesterday and taken through LMA's wholly owned subsidiary. The Laryngeal Mask Company Limited relates to57 words
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226 2006-12-19 5 AUSTON International Group which is involved in an investigation by the Commercial Affairs Department over accounting irregularities announced yesterday that non-executive chairman and director John U Zong Yang had quit and had also disposed of his entire 6.5 per cent stake in226 words
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Advertisement25 2006-12-19 4 -Sj SBH^Elv^Hl^^B'^m'^wi KmS IK S j. 41 v -v Xlyi| Bf&a t Ol lllH^Jk I j*~au JH li'--".' W aLMWJMw J^K 11^11flBMKMMWBMMBBiMB I y*jSWMl^^^^^^fe £^s>^s~^iigg^^^'gM&MjßJßßß|25 words
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Advertisement32 2006-12-19 4 •"•i v /t' I I m I 1^,,. For enquiries and subscription, please call 6775 9629 or email J morkefing©heritagemedio.com.sg. f r y H RiTA iS£i. A SUBSIDIARY OF SINGAPORE PRESS HOLDINGS32 words
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Advertisement120 2006-12-19 5 Air Plus 'IN T E R N AT I O N A I JUST A CORPORATE CREDIT CARD 1 I < AIRPLUS. WHAT TRAVEL PAYMENT IS ALL ABOUT. W,e have been specialising in global payment solutions, reporting and analysis of business travel for over 15 years. Furthermore we have helped120 words
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SINGAPORE MARKETS
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Article, Illustration528 2006-12-19 6 R SIVANITHY - STOCKS But slightly weak session sees the broad market chalk up 203 falls against 185 rises R SIVANITHY Senior Correspondent HAVING finished with property and conglomerates for the time being at least, it looks like market players are expending their buying energies onSource: Bloomberg - 528 words
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Article, Illustration1043 2006-12-19 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Dec 18 and earlier) Svbsmtiai No of Moo SHAREHOLDING Trow Shareholder/ Buy/ Skaro* Per Before After Stock Dote Mroctor Soft 'BOB Shr$ COBB) fOBO) Linair Tech 18-0ec-06 Linair Hldgs PL *Sell 9500 0.18 ***** 41.92 ***** 30.92 Sunningdale Tech 15-Dec-06 New1,043 words
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Article, Illustration768 2006-12-19 6 MATTHEW PHAN - Compiled by MATTHEW PHAN Singapore Airlines Dec IS dose: 5517.90 > CIMB-GK RESEARCH, Dec II Lash proceeds of b50.43 per share: Singapore Aircraft Leasing Enterprise (SALE) has been sold for US$965 million to the Bank of China. That entitles SIA to receive Sss2B million in cash proceeds forSource: Bloomberg - 768 words
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Article, Illustration534 2006-12-19 6 LARRY WEE - CURRENCIES LARRY WEE Senior Correspondent CURRENCIES such as the euro, British pound and Singa-. pore dollar may have challenged fresh eight-year highs versus the sliding Japanese yen over the past week, but it's the high-yielding New Zealand dollar which has emerged asSource: Reuters - 534 words
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COMPANY NEWS
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Article, Illustration691 2006-12-19 7 Brokers upgrade stock, cite air travel demand, benign fuel price outlook Bloomberg SHARES of Singapore Airlines advanced to more than a six-year high after the world's largest carrier by market value packed a record number of passengers in November and sold itsBloomberg; AFP - 691 words
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261 2006-12-19 7 MAPLETREE Logistics Trust (MapletreeLog) has made property acquisitions totalling $60 million. It has signed an agreement to purchase a ware-house-cum-ofßce property located in Tampines for $11 million from SembEnviro K K Asia Pte Ltd, a subsidiary of SembCorp Environmental Management. Mapletree Logistics Trust Management Ltd261 words
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Article, Illustration408 2006-12-19 7 WEE LI-EN - By WEE LI-EN MOBILE banking is here to stay for OCBC Bank. The Singapore bank yesterday officially launched it as a channel of the future, saying the service has gained good reviews from early adopters. Since OCBC offered mobile banking services on the GPRSARTHUR LEE - 408 words
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312 2006-12-19 7 ASIA Water Technology said yesterday it has boosted its order book to 820 million yuan (Ssl62 million) with 37 projects secured in the past 11 months of the year. The 37 water-treatment projects were won in various cities of 13 provinces in China312 words
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Advertisement325 2006-12-19 7 JHIi wHPi VMMHVSM x. a Dull \< Business Class SGDAft S?oT X x •—y\!M! Isetan Voucher Economy Class a pv Takashimaya j\J LJ v I I Voucher or Isetan Voucher r NHI 12 108:45 16:15 -NH9q2 23:25 1 06:55+1 NH II I j 10:40 17:15 NH9OI 1 17:25 100:05+1 +1325 words
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SINGAPORE NEWS
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211 2006-12-19 8 LABOUR chief Lim Boon Heng said that the government should raise the employer's CPF contribution rate "gradually", adding that any increase should not breach the 16 per cent mark. Speaking to reporters yesterday after a visit to the Red Cross Home for211 words
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Article, Illustration585 2006-12-19 8 ARTHUR SIM - But analysts say site cannot be easily compared with other recent transactions By ARTHUR SIM SINO Land has set a new benchmark price of $1,540 psf per plot ratio (ppr) for a commercial/hotel site with its top bid of585 words
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Article4580 2006-12-19 8 UNIT TRUSTS FUNDS AB Emg Mkts B USD 29.47/ AB Am Inam AT SGO 13.49/ w .i AB Amer Income BT SGD 1153/ MM Antra ASM Mgt (Sport) AB Amer Income AT USD 874/ Star Eteope Eqty! 1«« AB Amer Irame BT USD 8.77/ StvEuopeBond \X*I AB Amer Income A4,580 words
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380 2006-12-19 9 BANKING MOVES Move comes as bank competes with global rivals, local players for business from SMEs Reuters [HONG KONG] Citigroup, the world's largest bank by market value, plans to expand its staff serving small to medium-sized enterprises (SMEs) in Asia byReuters - 380 words
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Article258 2006-12-19 9 CONRAD TAN - By CONRAD TAN STANDARD Chartered Bank has been appointed by UK-based insurer Prudential to provide cash management services to Prudential in Singapore and eight other markets in Asia, the bank said yesterday. The deal surpasses all other Asian insurance industry cash management deals by transaction volumes258 words
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Article, Illustration361 2006-12-19 9 KELVIN HAN - By KELVIN HAN MENTION the author of a gardening book and one would probably envision an acclaimed landscaper or a professional gardener a veteran business journalist rarely comes to mind. Breaking that notion, self-termed "accidental gardening writer" Ronnie Lim, who is energy editor of TheARTHUR LEE - 361 words
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SINGAPORE ROUNDUP
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59 2006-12-19 9 PRESIDENT SR Nathan yesterday left for a private visit to India and will be away until Dec 28, the President's office has announced. A statement said that during the President's absence, J Y Pillay, chairman of the Council of Presidential Advisers, will59 words
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51 2006-12-19 9 FRAGRANCE Group Ltd yesterday said that its wholly owned subsidiary Fragrance Land has acquired a freehold plot in Telok Kurau for $4,275 million. The company said it intends to develop the land into a five-storey residential apartment building with an attic, subject to regulatory51 words
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58 2006-12-19 9 THE Australian International School Singapore has said that it is building a new campus as part of its expansion plans. The project, which will be managed by Bovis Lend Lease, will involve more than 14,000 square metres of new buildings. Construction work, which is starting58 words
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Advertisement44 2006-12-19 8 FAIIianzGI RCM Global Twin-Focus Fund a fund that offers you twin benefits Allianz (ill) of potential quarterly payouts and limits possible downside. Visit OCBC and other L, I I*. *i. r j I Global Investors appointed distributors for more detailS. company regn. no *****7169Z44 words
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Advertisement170 2006-12-19 9 jT. nf r i? Iff iffKiP iß^^yswj^^B llHlBHHiltfSi^^^^^v^Si^H I PW/ffl v^HHBHiBHHHHj^nBHHn^UinI^M^ tliatr 'iwiMBwiiyiriBffMHBBHBWIIMBBIW^^BH^BWIBB^BBBBfcwwirIB*' *<wflH^^Bß^9^^Bl WfKKKm J T m r j Tj T J I ||^^Subscribe Now KTj K t J M I I I I I m l an To THE STRATES TIMES I I SMS 'sphnews' fIHH H2. You'll170 words
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ECONOMY WATCH
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Article, Illustration742 2006-12-19 10 CPI expected to rise 0.3% in current fiscal year, 0.5% in following year Reuters Bloomberg [TOKYO] The Japanese government has set its economic growth outlook for the fiscal year starting next April at 2.0 per cent in price-adjusted terms, a government document tained byReuters; Bloomberg; AFP - 742 words
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235 2006-12-19 10 AP [FRANKFURT] Several large German companies warned the government in a letter published on Sunday that tightening environmental laws to meet EU requirements would slow Germany's economic upswing. The companies which include the utilities E.On, RWE and Vattenfall also hinted that they might haveAP - 235 words
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Article, Illustration642 2006-12-19 10 Reuters [SHENZHEN/HONG KONG] In the southern Chinese city of Shenzhen, visitors from neighbouring Hong Kong are not nearly as popular as they used to be. A salesgirl at a Starbucks coffee shop in Shenzhen snarls and waves her hand in indignationReuters; AP - 642 words
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377 2006-12-19 10 ANTHONY ROWLEY - By ANTHONY ROWLEY in Tokyo REFORMS currently underway in the Japanese agriculture and agribusiness sectors could mean that Japan will be in a position to sign free trade agreements with the United States and China, as well as with Australia, sooner377 words
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381 2006-12-19 10 AP [SEOUL] South Korea will likely fall further behind Japan unless it takes steps to become more competitive and less imitative of its larger neighbour, a leading economic research institute said. "The economic gap between South Korea and Japan is forecast to widenAP - 381 words
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476 2006-12-19 10 Reuters [BEIJING] A surging bal-ance-of-payments surplus is China's biggest economic problem, said a senior banking regulator. But Beijing must avoid the "turbulence" that a sharp rise in the yuan would bring. Jiang Dingzhi, vicechairman of the China Banking Regulatory Commission, estimated that ChinaReuters - 476 words
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MALAYSIA/INDONESIA
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Article, Illustration552 2006-12-19 11 The US$56m 'Visit Malaysia Year' campaign will launch on Jan 6 Reuters AFP [KUALA LUMPUR] Malaysia will roll out the red carpet to woo more tourists in a US$56 million, year-long drive to further diversify its manufacturing-led economy, the country's tourism ministerReuters; AFP; REUTERS - 552 words
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455 2006-12-19 11 Bloomberg [KUALA LUMPUR] Sime Darby Bhd said the Malaysian government hasn't told the company it can take ownership of the state's RM9 billion (554.07 billion) Bakun dam project, following a media report that permission had been granted. "We don't have anything officiallyBloomberg - 455 words
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372 2006-12-19 11 [KUALA LUMPUR] Sompo Japan Insurance Inc, a major Japanese property and casualty insurer, has bought a 30 per cent stake in Berjaya General Insurance Bhd from the latter's parent company, Berjaya Capital Bhd, for RMIOI million (5545.7 million), Malaysia's Business Times reported.372 words
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Article2233 2006-12-19 11 VOl Gamut** ...AJS2 unch 1023 OeclB KM CB88) General Corp ..0.65 -0.01 149 Ganting 32.00 unch 2677 At M Realty 133 unch 1 George Kant 0.58 0.01 73 Afark 0J0 *02 168 GHLSyatema _*22 -aoi 4360 ACPInduMrtai 1.14 -0.05 307 Globetronia Tech .0.28 -0.01 2810 Advance Synergy .0-232,233 words
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136 2006-12-19 11 Bernama [PENANG] Khazanah Nasional Berhad, the investment arm of the Malaysian government, will inject capital and investment in strategic fields into Penang and the Northern Development Corridor. "Khazanah will set up an office in Penang next year to manage and coordinate its businessBernama - 136 words
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436 2006-12-19 11 [JAKARTA] The country may have to borrow up to US$35 billion during the next three years to help finance its development needs and plug the budget deficit, the Jakarta Post reported the National Development Planning Agency (Bappenas) as saying. Government436 words
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267 2006-12-19 11 Bloomberg [JAKARTA] The sale of PT Indofood Sukses Makmur's oil-palm plantation and edible oil and fats business to City Axis Holdings Ltd, doesn't breach any rules, the Jakarta Stock Exchange said, responding to reports of a probe. "We met the company's managementBloomberg - 267 words
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GREATER CHINA
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Article, Illustration77 2006-12-19 12 [HONG KONG] A floor trader printing the trade record in the trading hall of the Hong Kong Stock Exchange yesterday. Hong Kong-listed Chinese stocks surged on strong buying in Chinese insurance companies, propelling the H-share index up 2.77 per cent to a record close of 9.238.12. The benchmarkREUTERS - 77 words
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660 2006-12-19 12 Even part-time employees at stores it controls eligible [HONG KONG] Starbucks Corp, the US coffee chain with more than 12,000 outlets worldwide, will issue stock options to all mainland employees of ventures in which it has a controlling stake, the South China660 words
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496 2006-12-19 12 Shenzhen Development Bank to renegotiate US$100m pact expiring this month Bloomberg [SHANGHAI] Shenzhen Development Bank Co, whose shares have more than doubled this year, may ask General Electric Co to increase the price it agreed to pay for a 7 per centBloomberg - 496 words
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258 2006-12-19 12 Banco Delta Asia traded gold and handled millions of dollars for Pyongyang AFP [HONG KONG] A Macau bank, accused by Washington of aiding the laundering of illicit North Korean cash, had handled tens and possibly hundreds of millions of dollars for PyongyangAFP - 258 words
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Article, Illustration420 2006-12-19 12 Move comes amid rising prices, fears about food security Reuters [BEIJING] Beijing would not support more use of grains for biofuel production, which might undermine China's food security, government authorities warned following a surge in the country's grains prices.Reuters; AFP - 420 words
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198 2006-12-19 12 Reuters [BEIJING] China has given a final nod to a US$l.5 billion project to convert coal to its much needed chemicals, the first of its kind in the country, the official China Securities Journal reports yesterday. The approval came on the heels of aReuters - 198 words
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INDIA
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493 2006-12-19 13 Anil Ambani group, private equity funds lead race for mobile operator Reuters [MUMBAI] A battle for the Indian mobile phone operations of Hutchison Telecommunications International has intensified, with more firms preparing to launch a bid, analysts and newspapers said. Hutchison Essar is 67Reuters - 493 words
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Article, Illustration687 2006-12-19 13 Study shows 17% of 2 f OOO teens in New Delhi are obese or overweight Reuters [NEW DELHI] In the swanky shopping malls of India's capital, finding a seat in food court restaurants offering everything from pizza and burgers to local delicaciesReuters; REUTERS - 687 words
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Article, Illustration266 2006-12-19 13 AFP [NEW DELHI] Indian Railways Minister Laloo Prasad Yadav was yesterday cleared of amassing unaccounted assets in his former post as chief minister of the impoverished eastern state of Bihar, local media said. A special court set up by the Central Bureau ofAFP - 266 words
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293 2006-12-19 13 AFP Bloomberg (NEW DELHI] India's state-run Oil and Natural Gas Corporation (ONGC) has found a massive natural gas reserve in the east of the country, the company announced on Sunday. Company officials told die Press Trust of India news agency the gas field inAFP; Bloomberg - 293 words
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458 2006-12-19 13 Part of company's plans to boost capacity by 50% Reuters [DUBAI] Saudi Basic Industries Corp (Sabic) is in talks to build a chemical plant in India as part of plans to boost capacity by almost 50 per cent between 2009 andReuters - 458 words
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Article, Illustration337 2006-12-19 13 AFP [NEW DELHI] The Indian economy faces five key hurdles to double-digit growth, including an ailing rural economy and inadequate public services. Prime Minister Manmohan Singh was quoted as saying yesterday. Mr Singh hailed the performance of Asia's fourthlargest economy,AFP - 337 words
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Advertisement4 2006-12-19 13 Aztech 50 www.aztech.com IPPhone^^4 words
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MIDDLE EAST
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185 2006-12-19 14 Reuters [RIYADH] The Saudi stock market regulator said yesterday it was investigating 25 cases, including alleged fraudulent transactions, a few days after it fined an investor and took the unprecedented step of publishing his name. The cases include manipulation of transactions, trading during prohibitedReuters - 185 words
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Article, Illustration449 2006-12-19 14 The Oaktree plane leasing unit with US$32b assets may sell for US$1.5b Bloomberg [DUBAI] Dubai may bid for the aircraft leasing unit of Oaktree Capital Management LLC, a Los Angelesbased buyout firm with more than US$32 billion of assets, the first step in theBloomberg; FILE PHOTO - 449 words
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305 2006-12-19 14 [DUBAI] Tourism contributes 22 per cent to the United Arab Emirates' gross domestic product (GDP), Gulf News reported yesterday, quoting the country's minister of economy. The newspaper said Shaikha Lubna al-Qasimi also called for more cooperation among private sector industries in the305 words
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251 2006-12-19 14 Reuters [KUWAIT] Kuwait's government on Sunday approved setting up a third mobile telecommunications company in the Gulf Arab state saying the new firm would help improve services and lower their cost. The Cabinet said in a statement that 60 per cent of the newReuters - 251 words
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158 2006-12-19 14 Bloomberg [SYDNEY] Timor Leste's government has agreed to form a joint venture with a Kuwaiti company for the distribution and storage of diesel fuel in the Pacific nation. Timor Fuel Trading will be 51 per cent owned by the Timor LesteBloomberg - 158 words
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ASIA-PACIFIC/WORLD
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Article, Illustration595 2006-12-19 15 Bid is worth some US$27.4b, making it the 4th-biggest in the US this year NYT [NEW YORK] Harrah's. the world's largest casino company, was near a deal on Sunday night to be sold to Apollo Group and Texas Pacific Group for about US$l6.7 billion,NYT; AFP - 595 words
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427 2006-12-19 15 LATEST US DATA Reuters [WASHINGTON! The US current account deficit widened in the third quarter to U*****.6 billion, as surging oil prices pushed goods imports higher, a US Commerce Department report showed yesterday. The quarterly shortfall was largely in line withReuters - 427 words
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521 2006-12-19 15 Bloomberg [BOSTON] Express Scripts Inc offered to buy Caremark Rx Inc for US$26 billion to become the biggest US manager of drug benefits and derail a takeover by CVS Corp. Caremark investors would receive U5558.50 in cash and stock for each share, 15 perBloomberg - 521 words
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256 2006-12-19 15 AFP [TOKYO] A Shell-led consortium has set conditions to Russia to give up control of the giant Sakhakn-2 gas project including guarantees of supply to Japanese customers, a newspaper said yesterday. The foreign investors are hoping to reach aAFP - 256 words
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520 2006-12-19 15 Hotels recover but small businesses still struggling AFP [KHAO LAK] Tourists are finally returning to Thailand's Andaman coast two years after the devastating tsunami, but any attempts to commercialise the tragedy are being snubbed by holidaymakers. The "tsunami survivor" T-shirts go unworn,AFP - 520 words
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355 2006-12-19 15 Bloomberg [BANGKOK] Tesco pic, Carrefour and other big international retailers in Thailand will face new laws designed to protect small local shops, Finance Minister Pridiyathorn Devakula said. "The law will not reject the expansion of large retailers, but will help protect smallBloomberg - 355 words
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Advertisement47 2006-12-19 15 t iliiiliMMW H K fl .jmHHHffiK 4; 11 Lu-hcK Kvifk Wi** with 0 explore- tIM. world of 1 Art wifk (Oft*. 2fm. I MOitdAV FHdftv f > £X&iWv*/u o-H >• I} radio9l3 1 i ii Radio 91.3 is managed by SPH Unionworks, a subsidiary Of 4IV Singapore Press Holdings47 words
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BT ROUNDTABLE
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Article, Illustration2877 2006-12-19 16 OVERVIEW EXCHANGE rate and currency movements are among the hardest to predict as so depends on market sentiment as well as on economic and financial fundamentals. For 2007, the conundrum is probably more difficult than it has ever been. Will the Fed loosen, as many market2,877 words
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WORLD
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Article, Illustration527 2006-12-19 17 State-controlled Statoil agrees to buy over Norsk Hydro for US$28b Bloomberg AP [AMSTERDAM] Statoil ASA, Norway's state-controlled oil company, agreed to buy Norsk Hydro ASA's energy business for about US$2B billion, creating the fourthlargest oil and gas producer in Western Europe and the world's largestBloomberg; AP; REUTERS - 527 words
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273 2006-12-19 17 Reuters [PARIS] Dexia will vote against Euronext's merger plan with NYSE Group at the pan-European exchange's extraordinary shareholder meeting today, the head of the Franco-Bel-gian bank said. "We will vote against the project of transatlantic merger," Dexia chief executive Axel Miller saidReuters - 273 words
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370 2006-12-19 17 AFP [LONDON] The head of exploration and production at British oil giant BP has criticised the company's leadership style on BP's internal website, the Financial Times reported yesterday. Tony Hayward, seen as the most likely successor to BP chief executive John Browne when he stepsAFP - 370 words
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178 2006-12-19 17 Euronext to acquire 51 of London-based SecFinex Reuters [AMSTERDAM] Euronext is to buy a 51 per cent stake in Lon-don-based SecFinex. an electronic trading platform for worldwide securities lending, the multinational European financial markets operator said yesterday. Euronext expects the acquisition to be completed in the first quarter of nextReuters - 178 words
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Page 17 Advertisements
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Advertisement118 2006-12-19 17 JLgiL--—JEHHB Diners Club Card r».w4,«*****0980 WorJJ of Exclusive Privileges Treats Diners Club wwuxc^nere com a 0 International I jl 1 <k Bss. HH& .-4HI I >' Cilantro Modern Asian HHHHHHHHHHB Fluid Bar Lounge Indufgz Bistro 7 Purvto Street, Tel: 6334 4633 ■SVWTTSi Far Eaft Square #01-01, Tel: 6436 2141 M118 words
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Advertisement57 2006-12-19 17 A Mfk On New Year's Eve, pique appetites with smoked salmon in horseradish cream, followed by a hearty asparagus chowder, next up are the mains pf roasted marinated rack of lamb with mint sauce or baked fillet of red cod with fennel sauce. Leave room for chocolate operas drenched in57 words
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AVIATION
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Article, Illustration574 2006-12-19 18 They also hope to convince investors not to sell shares to the bidding group AFP [SYDNEY] Australian pilots were yesterday considering blocking the sale of Qantas by investing their personal savings in the airline amid concerns from unions about theAFP; AP FILE PHOTO - 574 words
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245 2006-12-19 18 AFP [JAKARTA] Indonesian flag carrier Garuda Indonesia has been holding talks with potential strategic partners to help it address its debt problems, the company president said yesterday. "We have been informally holding talks with several potential strategic partners, and together withAFP - 245 words
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272 2006-12-19 18 AFP [HANOI] Vietnam Airlines wants to establish an air link to the United States by the end of next year to tap into the growing relations between the former enemies, a company official said. Vietnam has talked about the projectAFP - 272 words
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Article, Illustration374 2006-12-19 18 But plan has to wait until after tourism push in '07 AFP [KUALA LUMPUR] Malaysia's recently opened lowcost airline terminal is to be expanded and upgraded next year in response to complaints about overcrowding and a lack of facilities. a report said yesterday. "We willAFP - 374 words
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192 2006-12-19 18 Reuters [BEIJING] Chinese authorities have fined a low-cost airline almost US$2O,OOO for selling tickets for 13 US cents in a promotion, saying they broke national pricing rules, a newspaper said yesterday. Spring Airlines, set up last year by travel agent China Spring International, soldReuters - 192 words
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Article1994 2006-12-19 18 m sc (ssnarwi® kBBaa 1 jfti Si eioS 0020 eom oii> 17 J° Els HZAX5 0715 EM05 0220 AFOOT 130 Q«2 2215 °715 CK433 0250 HA7381 830 LH9770 2350 EMM IMS EK352 2205 A3 555 SQ269 2350 EK34I 1645 NZ4354 2335 Oft W» UL2348 1645 5Q4921,994 words
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Page 18 Miscellaneous
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Miscellaneous241 2006-12-19 18 CRYPTIC CROSSWORD 1 Iran schemed suspiciously to promote... (11) 'SB SSffl H| VH| 9 ...sale of uranium in conflict JHL—Plv——JHV——lHl——-VV--—JHI^B 12 Harry's wrong holding hands 20 Storyline contains one trial episode (5) SK jyg| H HH| 22 Trapped edge of ball in cross JML—JBI HH Mil 24 Later today working241 words
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SHIPPING/TRANSPORT
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Article, Illustration638 2006-12-19 19 But cost of moving crude from Middle East to Asia expected to rise Bloomberg [SINGAPORE] The world's shipping lines charged less to move containers in the three months ended September, as new vessels entering the fleet boosted capacity, Containerisation InternationalBloomberg; BLOOMBERG - 638 words
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Article475 2006-12-19 19 [KUALA LUMPUR] Terminal operator Penang Port Sdn Bhd (PPSB) plans to spend RMI billion (*****.3 million) in the next five years to improve Penang Port's infrastructure and facilities, says a report in Malaysia's Zfcsmess Times. The paper quotes PPSB chief operating officer Mohd Niana475 words
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252 2006-12-19 19 AFP [TOKYO] Japan's Sagawa Express Co said yesterday it has become the first foreign courier company to tie up with China's state-run post office and will launch a parcel service for the Chinese market. The business partnership comes as the Japanese courierAFP - 252 words
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513 2006-12-19 19 Reuters [SYDNEY] An Australian court ruled yesterday that BHP Billiton should not hold exclusive rights to a railway line, loosening the grip of the world's top mining group on the planet's largest iron ore deposit. The ruling does not open up Australia's outbackReuters - 513 words
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Article, Illustration790 2006-12-19 19 Shift of US manufacturing to developing nations boosts imports of consumer goods, clogging West Coast ports Reuters (JACKSONVILLE. Florida] ROY Schleicher points through a chain-link fence at a 65hectare plot that has been cleared for a new port terminal for consumer goods fromReuters; BLOOMBERG - 790 words
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Article287 2006-12-19 19 fjSGX 000 Dtcll S$ Vol OHOfSwreZZZZIZai* unS 333 ChuanHup .032 0.01 541 Cosco Corporation J. 10 -0.03 3490 CWT Distribution 0.62 0.03 494 Ezra Hldgs _..JJ0 0.02 86 freight Linki 0 07 unch 2609 Grand Banks Yacht .0.87 unch 33 Jaya Holdings ....1.48 unch 185 K1 Venture.™ .034287 words
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EDITORIAL & OPINION
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Article500 2006-12-19 20 EDITORIAL IS THE global commercial aviation sector entering an era of mergers, acquisitions and consolidations? To what extent will this spill over to Asia? Consider the recent flurry of activity in the industry. The US Department of Justice is poised to review the potential500 words
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Article, Illustration714 2006-12-19 20 NEIL BEHRMANN - THE BOTTOM LINE NEIL BEHRMANN London Correspondent THE Blair administration is in the dock for damaging Britain's international commercial and diplomatic standing. It has interfered with the rule of law. The controversy involves corruption and bribery. Britain, a signatory of the OECD's anti-bribery714 words
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Article, Illustration1443 2006-12-19 20 HOWARD W FRENCH - Increasingly, though, with its growing pains multiplying, Shenzhen looks like a preview of the limitations of the kind of growth-above-all approach that has gripped much of China By HOWARD W FRENCH NYT WHEN residents here in southern China's richest city learnedNYT; FILE PHOTO - 1,443 words
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Article, Illustration690 2006-12-19 21 KAI-ALEXANDER SCHLEVOGT - Asian business voluntarists need to understand the rules of the game By KAI-ALEXANDER SCHLEVOGT IN THE past, multinational companies from the West enjoyed the dubious privilege of being closely scrutinised by a new class of vigilant consumers and the avant-garde of ethical activistsREUTERS - 690 words
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Article, Illustration1218 2006-12-19 21 YOGI AGGARWAL - YOGI AGGARWAL A LEADING Pakistani newspaper recently reported that 60 per cent of the new houses being built in Karachi were being bought by overseas Pakistanis. The report highlighted what was common knowledge in the country that for the past four or five years,1,218 words
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Article309 2006-12-19 21 Chua Swee Kiat - LETTERS TO THE EDITOR Chua Swee Kiat General Manager, Corporate Communications, M1 I REFER to Siow Li Sen's article, "Ml faces up to the reality of wireless Internet service" (BT. Dec 13). Mi's Fair Use Policy was introduced in April this year to prevent309 words
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548 2006-12-19 21 Johnny Tan Hung Ming Singapore - Johnny Tan Hung Ming Singapore I REFER to the report. "Stanchart hits market with new kind of credit card" (BT. Dec 13). The new Platinum Access card launched by Standard Chartered is aimed at young working professionals in Singapore. It allows card548 words
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Article501 2006-12-19 21 Leong Sze Hian Singapore - Leong Sze Hian Singapore I REFER to NTUC's proposal to reduce the CPF contribution for lower-income workers and put 40 per cent of the Workfare bonus to CPF. On the one hand, we are putting more of the Workfare Bonus cash payout to worker's CPF,501 words
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Page 21 Advertisements
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Advertisement103 2006-12-19 21 JIAVE 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 libel103 words
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Article9917 2006-12-19 22 SGXMAINBOARP S2-Wk Tal Last Vol Day Lot Quote Mv GrYld MM MCap High Low Code Company Sate W- CO00) HW> low tmtm UMm Cw Wt $3 3.5 1 5716 1st Software 2.5 unch 2350 3 2.5 2.5 3 101 11.5 6 3148 STttecom AS -15 9 4.9 229,917 words
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Page 22 Advertisements
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Advertisement89 2006-12-19 22 Low cost IDD at your With Phoenix IS 16 IDD. it tins never been this easy and affordable'to reach your business contacts wherever they are in the world And our uninterrupted, clear voice quality, zero subscription fees, plus free registration give you even more savings every time you make a89 words
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Article5044 2006-12-19 23 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES in locai out In S$ Ki lrt$ *dy%yr*dy%yr*dy %yt lnd«K Chang* Change Change Change Chtnq* Chang« World Index PretomnaiY "02-7 0J 13.7 03 9.6 0.1 181 tAf E Prefaninary1101 >4 0.5 132 02 13.7 OlO 22.6 Europe Preliminary 1494.0 0.5 16.0 0.1 20.25,044 words
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Page 24 Advertisements
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Advertisement1351 2006-12-19 24 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination DD SUCCESS RDM/ATW/BMN/TLB/NAN MATIRA CAM/NFK/NOl/SAV Load, Singapore, E./W. Motoy.k., lndon«io E./W. Molayw., lnd»mio MIDDLE-EAST SERVICE WIEX SERVICE Destination 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. Malaysia, Indonesia OTHER SERVICES1,351 words
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Advertisement474 2006-12-19 24 wDv WALLENIUS WILHELMSEN LOGISTICS website: http://www.2wglobal.com VBSa VOT RAMP HPGHT SM UC MAO SAV Mi Otf TAMO AF7OI 4201 m MM 29/12 21/01 N/01 03/02 01/02 04/02 TAIABOT AF7O2 4001 ms MM 01/01 01/02 10/02 14/02 10/02 17/02 TAUSMAM AF7O3 3201 m MM W/01 11/02 20/02 24/02 01/03 27/02 few474 words
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Page 25 Advertisements
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Advertisement646 2006-12-19 25 WAN HAI INTERNATIONAL PTE LTD NO: **********0/1 W\WAN HAI LINES Y V wrmm B1B"BB WHL (03) 334M1U MJL (03) *****2MPWHL (04) *****Q0 WUL fHXO%m JoNlH:|o7)2Sllf23NU:|B7)2Simi 8* 1H: (031) 12*5475 HUL (031) 32*2714/J291J05 www.wonhai.toni.sg *rm.(j2i)s2S4iiif*x;(B2i)s2s<mnjim:7iu»o/7it3ii nanun MM: (HI) 4157*3 f*Jt (Ml) 415W25/414JW WEEKLY EXPRESS SERVICE TO AND FROM ammmim CALUNG SINGAPORE646 words
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Advertisement881 2006-12-19 25 ggsssssH VttWL I V6V PkL SIN KARAfrl DXi RAR PMM UK ICHOR IRAN SAYTARI PCI 8177 19/12 20/12 29/12 01/01 02/01 01/01 "loTol HEToi WAN SHAHRYAR PCL 8178 23/12 24/12 02/01 03/01 06/01 12/01 14/01 16/01 IRAN ZANJAN PCL R180 06/01 03/01 15/01 19/01 19/01 26/01 28/01 30/01 V««L I881 words
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Advertisement96 2006-12-19 25 |PW* P. T. DJAKARTA LLOYD (PERSERO) ITW AUSTRALIA FULL CONTAINER SERVICE »H Ivor! 3i|r»t|w|wi|STt|Bß|<m Alt BRMT QMS 34/11 30/13 11/11 07/11 00/01 13/01 tfISYDMT 004$ 31/13 03/01 11/01 14/01 U/01 10/01 iamakum 07/01 5?75T TW JT7JT SJ7JT TJ7ST AJOBSIB— m WIT TS7JT IJ7ST S7ST S7ST B7oT AIEBHW 034S TT7oT >3701"96 words
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Advertisement604 2006-12-19 25 a®as&« WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN ANO WESTERN ICO POINTS rasa I yor I aw rjukg coummo n. swva coiowo IAIIAHADUK 0110W 17 OK 13 DK It DK HDK 23 0K mxraim TWW HDK MDK 23DK ?6DK 3ODK HOWUHW QQSIW MDK 77 DK XDK 021— Otuii604 words
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THE BUSINESS TIMES SHIPPING TIMES
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4999 2006-12-19 26 This ETA ETA Advartfcar VmmI Voyage Telephone ETA ETA AdvertiMr Viml Voyage Telephone 5m Dcst'n Name Nmm NumftMf MMriMr SM D®sf n Nmm NMM NMRfeV NUMfev To ADELAIDE (ADL) 2007 Australia To GENOA/GENOVA (GOA) 2137 Italy 31/12 19/01 China Shpq API SYDNEY 0045 *****8984,999 words
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PROPERTY
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Article, Illustration360 2006-12-19 27 Bloomberg [DUBAI] Macquarie Bank Ltd. Australia's largest securities firm, plans to start a US$2 billion United Arab Emirates real estate investment trust with local partners to exploit rising property prices in the Persian Gulf state. Macquarie's real estate unit is in talks with AbuBloomberg; BLOOMBERG - 360 words
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Article, Illustration727 2006-12-19 27 It may raise interest rates to put a lid on the market keep inflation in check Reuters [WELLINGTON] New Zealanders' love affair with residential property is on the verge of exhausting the central bank's patience. Median house prices have nearly doubled overReuters; BLOOMBERG - 727 words
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Article, Illustration435 2006-12-19 28 KALPANA RASHIWALA - Market watchers expect prices to match CityDev's One Shenton By KALPANA RASHIWALA FOLLOWING the weekend sale of all but 15 of the 175 freehold condos at The Sixth Avenue Residences developed by Keppel Land and Singapore Land, BS Capital yesterday opened the showflat for its435 words
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Article, Illustration485 2006-12-19 28 UMA SHANKARI - By UMA SHANKARI THE first-ever residential development in science hub one-north, tentatively named One Rochester Park, will be launched around Chinese New Year and the project is expected to benefit from the new-found buzz of the Rochester Park area. The 368-unit485 words
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810 2006-12-19 28 Bloomberg [NEW YORK] Apollo Management has agreed to buy Realogy Corp owner of the Century 21 and Coldwell Banker real estate brokers for about US$6.4 billion, in a sign that the US housing slump may have touched bottom. The New York-basedBloomberg - 810 words
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Page 27 Advertisements
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Advertisement965 2006-12-19 27 NOTICES THE COMPANIES ACT. CAP. 50 CAMBOOMNA HtVESTMBfT (S) PTE LTD (In Vol. Liquidation) Co. Rog. No. 198W3537D NOTICE IS HEREBY GIVEN that the creditors of the above-named Company which is being voluntarily wound up are required on or before the 22* day of January, 2007 to send in their965 words
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Advertisement644 2006-12-19 27 ,3'' >at^: NOTICES T fr I v/ 1 I j A \*_J Toll free: 1800-289-8822 Email: notices@sph.corn.sg »N THf MATTER Of THE COMPANIES ACT, CAP. 30 AND IN THE MATTER OF EL GRANDE HOLDINGS (SINGAPORE) PTE LTD Company IhyHimieii N>j 199A*****C (In Creditors' Voluntary Liquidation) NOTICE Of RESOLUTIONS At the644 words
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Advertisement648 2006-12-19 27 NOTICE OF EXTRAORDINARY GENERAL MEETING OF HENGXIN TECHNOLOGY LTD. (Company Registration Number *****4927H) (Incorporated in the Republic of Singapore) NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (the "EGM") of the members of HENGXIN TECHNOLOGY LTD. (the "Company") called pursuant to Section 177 of the Companies Act, Cap. 50648 words
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Page 28 Advertisements
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Advertisement73 2006-12-19 28 A Land area 21,242 sf; FH GPR2.B/Upto36-storeys A jf Unobstructed Seaview s r\ Parkway Parade, VS. iffr Chinese Swimming Club J t Closing on 5 Jan '07 (Frl), 2.30pm JS n 3 adjoining plots potential SL II 1 Total land approx. 41,463 sf I St. Andrew's Mann TP Spoto Hal\s\73 words
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Advertisement23 2006-12-19 28 SCORE CARD Keep your investors informed by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sq. BSATS NOTICES23 words
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Advertisement60 2006-12-19 28 Absolute beach from Gymnasium PRD All units have panoramic views Internet cafe 4# 2 bedroom, 2 bathroom apartments M Restaurant Freehold available «fl) 1 24 hours security Prices from only Large swimming pool 24 hours and reception USD 346,000 M Oriental spa M 6% guarantee rental return (limited availability) PRD60 words
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