The Business Times, 27 June 2007

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Total Pages: 33
1 34 The Business Times
  • 20 1 THE BUSINESS TIMES A SINGAPORE PRESS HOLDINGS PUBLICATION MICA (P) 202/12/2006 Wednesday, June 27,2007 online at http://business-times.asial.com.sg SINGAPORE 85 cents
    20 words
  • 486 1  -  Potential partner's supply of approved permits suspended, its shareholders quizzed by graft busters By SAMUEL EE [SINGAPORE] Ferrari distributor Hong Seh Motors has hit a roadblock in its bid to establish itself in Malaysia, where its potential partner has found its supply of
    486 words
  • 131 1 STI 3,525.10 (-55.23) ST INDEX FUTURES 3,525.00 (-55.00) simso 436.20 (-6.49) SIMSCI FUTURES 435.70 (-6.60) MARKETS Tuesday Change KLCOMP 1.366.99 -10.14 NIKKEI 225 18.066.11 -21.37 HANG SENG 21,803.57 -18.78 SET INDEX 766.97 +2.85 JAKARTA COMP 2,153.54 +1.34 MANILA COMP 3,657.12 +3.54 SEOUL COMP 1,749.55 -8.18 SHENZHEN B 686.76
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  • Sing Tel eyes stake in Pakistani telco
  • Page 1 Advertisements
    • 9 1 COMMENTARY Yellow Pages saga raises interesting issues PAGE 4
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    • 52 1 MOTORING J"Tf Car design is more JSsJrL than just about speed ECONOMY Mayfactoiy output beats forecasts with 17.7% jump PAGE 10 BT ONLINE Access to BT Online is free after 6pm each day. But print subscribers can access our online news anytime. Call 6388-3838 to subscribe and activate your online
      52 words
    • 13 1 RENTALS Office rents in Singapore to outstrip Hong Kong's by end-2008 PAGE 3
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    • 115 1 the PROPERTY Garlick Ave bungalow fetches $7m PAGE 10 EXECUTIVE MONEV MONEY^^^BIH but diversify portfolio i i i Invrnit et Fecit invented and made IT»e motto of a contemporary watchmaker building his own history. y.P. JOURNE I I? j vllnvenii et fecit BapW^flMkm B^k| in harmony 18th century marine chronometry.
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    • 27 1 Betting small but winning pretty big PAGE 32 Markets likely tostay bullish for a while PAGE 33 Funds set to throw int6welinfaceof new CPFIS rules PAGE 34
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  • Page 2 Advertisements
    • 95 2 Ford Avenue Just Soldj^__sl3M__ Belmont Road 16,300 sqf $13.xM Binjai Pk 20,300 sqf $15.xM Bukit Tunggal Rd 20,300 sqf $17.xM Cluny Park 16,000 sqf $17.xM Cornwall Gdn 15,700 sqf $12.xM East Sussex Lane 37,000 sqf $18.xM Gallop Road 15,800 sqf $16.xM King Albert Park 15,500 sqf $9.xM Leedon Road 18,300
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    • 519 2 Give yourself a break. CATS NOTICES In the matter of the Companies Act CapSO Motor Sports Management Pte Ltd (In Members' Voluntary Liquidation) Reg no: *****5229E At an Extraordinary General Meeting of the company held at 341 Bukit Timah Road #03-02 Honolulu Tower Singapore *****9 on 22 June 2007, the
      519 words
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  • TOP STORIES
    • 536 3  -  By JANE MOIR in Hong Kong THE handful of fresh faces in Hong Kong's ministerial line-up have drawn a mixed response from the business sector, with the new candidates for financial posts winning the most support. Chief Executive Donald Tsang
      536 words
    • 463 3  -  By CONRAD RAJ [SINGAPORE] A Hong Kong company has won a case against the Comptroller of Income Tax who slapped it with a $3.3 million-plus tax bill after it sold 17 units in upscale Leedon Road. The tax
      463 words
    • 667 3  -  Govt may move some public organisations out of CBD to free up space for private sector: sources By UMA SHANKARI [SINGAPORE] Office rents in Singapore will be higher than those in Hong Kong by the end of next year as supply
      667 words
    • Saudi Telecom in US$3b deal with Binariang-GSM
      • 25 2 Other firms in Mr Krishnan's stable, especially Tanjong, have invested heavily in power plants in the Middle East and the Saudi connection cannot have hurt.
        25 words
      • 14 2 It plans to buy 25% of Maxis's parent and 51% of its Indonesian subsidiary
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    • 517 2 Shekhar Kapur will outline his plans in the next 3-6 months Bloomberg [SINGAPORE] Shekhar Kapur, the director of Oscarnominated film Elizabeth, is in talks to raise a US$5OO million fund in Singapore to invest in the entertainment industry including movies and music
      Bloomberg; ARTHUR LEE  -  517 words
    • 505 2 S'pore office rents expected to top HK by end-2008 OFFICE rents in Singapore will be higher than those in Hong Kong by the end of next year as supply here remains tight, a property firm says in a study released yesterday. And industry sources say the overall rise
      505 words
    • 484 2  -  Ex-Perwaja Steel chief had been accused of embezzling RM76m By PAULINE NG in Kuala Lumpur FORMER steel tycoon Eric Chia Eng Hock one of the first big names brought to court under Prime Minister Abdullah Badawi's antigraft drive was acquitted of
      REUTERS  -  484 words
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  • Page 4 Advertisements
    • 254 4 New Revolutionary Office Chairs With Automatic Synchro Lumbar Support Features Aluminium back support frame Wire control synchro mechanism Adjustable armrest Separate lumbar support Adjustable seat depth Separate headrest camber ENJOY The Futuristic Office Mesh Chair A new concept in seating comfort. Maximum lumbar support with multiple adjustable features ensure the
      254 words
    • 67 4 Land Area: Approximately 1,878.7 $m or 20,222 sqft Floor Area: Approximately 320 sm or 3,444 sqft Zoned "Residential" (Under the Master Plan (2003) Edition, the subject property is within the designated Mountbatten Road Conservation Area) Freehold, Rectangular-shaped land Estate Sale with vacant possession Date: 29 June*2oo7 (Friday), Time: 2:3opm Venue:
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    • 16 4 I 1 0 6438 2297 1 2nd Floor, 31 Club Street, Singapore *****8 I »nflQn«wconceptmand»rin.com I
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  • COMPANY NEWS
    • 272 4  -  By SIOW LI SEN STANLEY Tan will be withdrawing his motion to oust the independent directors (IDs) of Yellow Pages, the company said last night. It said that Mr Tan and fellow investor Pang Yoke Min would withdraw the motion at tomorrow's
      AZIZ HUSSIN/THE STRAITS TIMES  -  272 words
    • 331 4  -  $1.20 in cash per share buyout to be effected by scheme of arrangement By KALPANA RASHIWALA AFFINITY Equity Partners and TPG Capital have teamed up to acquire United Test and Assembly Center Ltd (Utac) in a deal that values the company
      331 words
    • 750 4  -  HOCK LOCK SIEW By SIOW LI SEN YELLOW Pages has averted a divisive shareholders' meeting tomorrow with Stanley Tan's decision yesterday to withdraw his motion to oust the company's independent directors. But the boardroom tussle has raised some interesting issues concerning business people
      750 words
    • 1471 5 BT ADVERTORIAL Tapping into the strengths of powerhouses like China and India, rather than competing with them, is a key growth factor for Southeast Asian economies, says Deloitte's regional head Chaly Mah COOPERATING, not competing, with China and India will be the key to Southeast Asia's
      1,471 words
    • 317 6  -  By CONRAD RAJ JUST a day after Keppel Corporation announced it had won rig contracts worth US$534 million, arch rival SembCorp Marine, the world's second-largest builder of offshore rigs, reported a US$l9O million' contract for a deep-drilling offshore jackup rig for Offshore
      317 words
    • 350 6  -  By RONNIE LIM THE Norwegian connection is starting to pay off for Indonesian tycoon Kris Wiluan's KS Energy (KSE) group. .The company announced yesterday that it had clinched two new land rig deals worth a total of $47 million including the
      350 words
    • 448 6  -  Regional chain of 30 hotels to be set up with Dubai firm Istithmar By UMA SHANKARI A CHAIN of 30 budget hotels is to be set up across South-east Asia over the next three years in a US$5O million joint venture between Hong
      448 words
    • 399 7  -  Mcpeekay can buy up to 150 m shares in the recycling firm By KALPANA RASHIWALA EQUATION Corp the former Heshe Holdings has granted Mcpeekay Consulting Group an option to buy up to 150 million shares in Centillion Environment and Recycling the former Citiraya
      399 words
    • 443 7  -  By LYNETTE KHOO CHINA Enersave's 46.6 per cent-owned associate, Amanda Industries, will become a pure Vietnamese play on the Singapore Exchange following a reverse takeover agreement with Singapore-listed Creative Masters Bermuda Ltd (CMBL), in an all-share transaction. Yesterday, the two parties said that they
      443 words
    • Hor Kew expects turnaround with new devts
    • 337 9  -  By WINSTON CHAI MOBILEONE is hoping to increase its share of mobile advertising revenue with a new service which allows companies to entice phone users with ads while they are text messaging. To be launched later this quarter, the operator's new advertising
      337 words
    • 264 9  -  By JANICE HENG CARATS Ltd shareholders have been advised to reject Galleria Resources' revised offer, in view of a potential reverse takeover (RTO). Carats' independent directors have agreed with an independent financial adviser's (IFA) recommendation that shareholders vote against the general offer. Directors
      264 words
    • 237 9 Koh Boon Hwee quits PacNet board KOH Boon Hwee, which represents MediaRing on the board of Pacific Internet, has resigned as PacNet director, following MediaRing's decision to accept Connect Holdings' offer for PacNet. WBL shareholders reject sale of MFS SINGAPORE-LISTED WBL Corp said yesterday its shareholders did not
      237 words

  • Page 5 Advertisements
    • 122 5 CP* Forum 2007 Program Htqhttqhtt Ua Capita) maricet wtwe la the Connectivity hnpaet on aharahoUarvakia Tax^m and leverage each other's xLatent developmenta In growth, partfajlaily that of end China and India Competition for talent Singapore BfMWHgPEWWfffIWI Aalan business expansion: Atttty to mobfee. attract. Impact o« cross-border and retain talent tranaacDona
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  • Page 6 Advertisements
    • 2701 6 CATS NOTICES /7ff) MAN WAH HOLDINGS LIMITED MAkjuuam (Company Registration No. *****) MMiNVYMn (incorporated In the Bermuda) NOTICE IS HEREBY GIVEN that the Annual General Meeting of Man Wah Holdings Limited (the "Company") will be held at The Fullerton Hotel Singapore, 1 Fullerton Square, EDB Room, Lower Lobby, Singapore *****8,
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  • Page 7 Advertisements
    • 88 7 Citigold Sin Hua Gallery proudly presents l9|H|^E9§SfnßsgnttlM|£ijta?^^2£jfi^^H||^^^6H Tlm SHtnc* of Tim 133 x 130.6 cm. Ink colour on paper ?f i it sno* -r is Solo exhibition by Bejing Artisf Liu Yanshui 28 June to 3 July 2001 10am to 9pm daily GRAND OPENING Date. Wednesday, 27 June 2007 Time.
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  • SINGAPORE MARKETS
    • 939 8  -  CURRENCIES If there's indeed one, we suggest some levels to watch for better re-entry points LARRY WEE Senior Correspondent nVER the past week, news k that two US hedge funds could be teetering on the I brink once again inI creased the bias towards m
      939 words
    • Article, Illustration
      909 8 SECURITIES TRADING SCOREBOARD MAIN SOQ TOTAL Up Down Unch Up Down Undi Up Down Unch Multilnd 0 16 1 0 0 0 0 16 1 Manufacturing 30 153 42 6 36 10 36 189 52 Commerce 8 60 14 3 18 _5 11 78 19 Tpt/Stor/Com ms 7 30 6
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    • Article, Illustration
      787 8  -  Compiled by UMA SHANKARI Banking Sector DBS GROUP RESEARCH, June 26 WE upgrade the banking sector to Overweight from Neutral as we believe there's potential for Singapore banks to outperform the market, with stronger-than-expected loan growth in H207. We're projecting 2007 loan growth at 10 per cent year-on-year and
      787 words
    • 528 8  -  STOCKS R SIVANITHY Senior Correspondent THE Straits Times Index set three consecutive all-time highs last week but has since followed up with three successive drops, each of increasing magnitude and culminating in yesterday's 55.23-point loss to 3,525.10. The selling has been actuated by several reasons
      528 words

  • Page 9 Advertisements
    • 144 9 78 th ANNIVERSARY SPECIAL J CEVA is the new name in contract logistics. As part of the TNT group we were already the world's biggest pure-play contract logistics company. Today, our independent status ensures even greater effectiveness and efficiency in our operations. We create value for our clients all over
      144 words

  • SINGAPORE NEWS
    • 265 10/11 Bloomberg SINGAPORE'S hotel room rates may rise by "quite a bit" as the island-state draws more tourists, said Kwek Leng Beng, chairman of City Developments Ltd, one of the country's biggest hotel operators. The city will be short of about 3,000 hotel rooms, Mr
      Bloomberg  -  265 words
    • 582 10/11  -  Strong expansion in biomedical, transport engineering sectors By CHUANG PECK MING OUTPUT by Singapore's factories Jumped more than expected in May, as sales of oil rigs and drugs surged. The Economic Development Board reported yesterday that last month's output rose 17.7 per cent
      582 words
    • 314 10/11 By KALPANA RASHIWALA SC Global Developments boss Simon Cheong yesterday bought a freehold bungalow at Garlick Avenue for $7 million at auction, BT understands. The price for 70 Garlick Avenue works out to $769 psf, based on the 9,100 sq ft of land.
      314 words
    • 58 10/11 SINGAPORE Press Holdings has held a golf competition in appreciation of Business Times and Lianhe Zaobao advertisers, where over2oo corporate personalities tee'd off at the Tanah Merah Country Club's award winning Garden Course. In The SPH 4 1/2 -Club Golf Challenge, golfers were allowed only to
      58 words
    • 249 10/11 WATTEN Estate Condominium at Shelford Road off Dunearn Hd has been put up for collective sale through an expression of interest exercise. So far. owners with more than 70 per cent of share values, but short of the minimum 80 per cent
      249 words
  • ARTS FEST
    • 887 10/11  -  Arts Festival a success, in both qualitative and quantitative terms, reports PARVATHINAYAR PARVATHI NAYAR WORLD CLASS: that's the general consensus about the 30th anniversary of the Singapore Arts Festival (SAF) that ended over the weekend. The qualitative Judgement is reinforced by SAF's quantitative success.
      887 words
    • 366 10/11 Geh Min Nature Society Singapore president "1 thought the quality of the Festival this year was superb, and exceeded my expectations. As an avid follower of the arts who has attended arts festivals round the world, everything was world class. When I first looked
      366 words
  • Page 10/11 Advertisements
    • 51 10/11 Where all your travel needs are met/ I Want to experience the best the world can oFFer? From tropical sunshine to Alpine snow, ancient ruins and >;AT3 modern skyscrapers, there s a wide spectrum oF travel services in CATS Classified to meet your every holiday whim. buy it-sell it. find
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    • 21 10/11 JUNE ISSUE OUTHOW! I^l tianhe Zaobao World's rtf longest Hangzhou Bay |JU Trans-sea, Bridge I finally linked up/1 r f £K36&S
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  • ECONOMY WATCH
    • 281 12 Reuters [SINGAPORE] China has no plans to sharply reduce US dollar assets in its US$l.2 trillion foreign currency reserves, a senior central bank official was quoted as saying after Beijing cut its stock of US government debt in April for the first time
      Reuters  -  281 words
    • 520 12  -  Analysts speculate that the authorities may intervene to support the yen By Anthony Rowley in Tokyo IN the clearest sign yet that Japanese authorities may be preparing to intervene in support of the plunging yen, Finance Minister Koji Omi yesterday warned markets to
      AP  -  520 words
    • 4294 12 UNIT TRUSTS FUNDS 8.54/ ,070te4 K?2S?sr ,CMf S««5?Ma a S»K'« JJJS £2 £3 wo 1/4 ftjunSS tguSgggSS'Sf? ■T17 1flirt A3 Amec Income A EUR 634/ gWS Gkttf Agnbu A2 Utt HS401V UKGBf |tt* i*fl» S'SjKf 114J4I uoS S SS Send L5D .ZZHL oJBmM* G-Mlb* M) -J 52 2! A8 Ame*
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  • Page 12 Advertisements
    • 55 12 Allianz Global Investors one of the world's largest asset managers with more than US$1.2 trilion assets under management as at 31 December 2006. J SCORE IN EMERGING MARKETS Try our online quiz at www.franklintempleton.com.sg and win attractive prizes! FRANKLIN TEMPLETON W investments Terms and conditions apply. BIZ REGN NO.: *****52
      55 words

  • MALAYSIA
    • 264 13 AFP [KUALA LUMPUR] Major theme park players are keen to invest in Malaysia except for Universal Studios which is involved in a US$3.4 billion resort project in Singapore, a top official said yesterday. Azman Mokhtar, managing director of state investment arm Khazanah Nasional,
      AFP  -  264 words
    • 232 13 Bernama [KUALA LUMPUR] Credit card users with a good track record of settling their credit card balances promptly for 12 consecutive months will benefit from a reduced finance charge from the current maximum 18 per cent per annum to not more than 15
      Bernama  -  232 words
    • 335 13 Bloomberg [KUALA LUMPUR] Malaysian bonds will make up about 0.4 per cent of Citigroup Inc's World Government Bond Index, a benchmark tracked by some US$l trillion of global funds, the world's biggest financial firm said. Malaysia's ringgitdenominated government debt will
      Bloomberg  -  335 words
    • 433 13 Talks under way with Volkswagen and General Motors on stake sale Re uters,Bloomberg Bloomberg [KUALA LUMPUR] Malaysia's state investment arm, Khazanah Nasional Bhd, is making steady progress in talks to find a foreign partner for national carmaker Proton, Khazanah managing director Azman
      Re uters,Bloomberg; Bloomberg; AFP  -  433 words
    • 2488 13 wot iuw it KM W- COOP) AtM Realty .2.65 0.02 27 Abric Bhd 0J9 -0.01 39 Advance Synergy 0.35 -0.03 1837 Adventa Bhd 1.49 unch 1801 Ae Multi Hldgt .0.34 0.02 361 Affin Holdings J.43 0.01 2749 Ahmad Zaki Resou .3.38 -0.06 42 Aic Corp .0.61 0.06 247
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  • Page 13 Advertisements
    • 122 13 Singapore I^l^r l —-ft Shanghai kSinGAPORE 5 times daily, non-stop. Shanghai's most freouent visitor. From Ist July 2007, Singapore Airlines will offer even more flights to Shanghai. Choose from 5 flights dally for even greater choice and convenience. Revel In the contrast of spectacular modernity and ancient history In one
      122 words

  • Page 14 Advertisements
    • 3906 14 CATS NOTICES SinGAPORE AIRLinES SINGAPORE AIRLINES LIMITED (Incorporated in the Republic of Singapore) 4 Company Registration No. *****0078R NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Singapore Airlines Limited (the "Company") will be held at Mandarin Court, 4th Floor, Grand Tower, Meritus Mandarin,
      3,906 words

  • INDONESIA
    • 506 15  -  Airline's debts to be restructured first to get better sale price: minister By LAUREL TEO in Jakarta PLANS to privatise state-owned airline Garuda have been postponed to as late as 2009, as the government scales down its divestment programme for this year. Only
      REUTERS  -  506 words
    • 229 15 Reuters [JAKARTA] French carmaker Renault plans to set up an Indonesian production base to make its van model with an annual capacity of 150,000-200,000 vehicles, a newspaper reported yesterday. Bisnis Indonesia quoted Muhammad Lutfi, the head of Indonesia's investment board, as saying that
      Reuters  -  229 words
  • Page 15 Advertisements
    • 671 15 m SIM LIAN GROUP LIMITED (the Company (Incorporated in the Republic of Singapore) (Company Registration No. *****4760 C) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Shareholders of the Company will be held at 52 Hillview Terrace Singapore *****1 on 12 July
      671 words
    • 447 15 Q&A Citi Private Bank Investing in Real Estate; More than Meets the Eye m 1 k I f w H f T m hSni OUEK KWANG MCNe i Managing Dfcxtor H«ad Real Estate Invtstnwrts V Global Wealth Manaqament 1/ Asia Pacific and Middle East A Q Is investing in real
      447 words

  • MIDDLE EAST
    • 440 16 The global market traded volumes of over US$30b last year Reuters [DUBAI] Dubai has launched a bid to become a centre for trading greenhouse gas emissions permits, diving into a fast growing market and the potential to turn the region's sizeable carbon footprint into
      Reuters  -  440 words
    • 210 16 Reuters [SINGAPORE] Saudi Aramco is cutting its spot exports of liquefied petroleum gas (LPG) in 2007 to one million tonnes, from 1.5 million tonnes last year, because of lower crude output, a company source said yesterday. Saudi's state-owned firm, the world's biggest exporter
      Reuters; FILE PHOTO  -  210 words
    • 195 16 Xinhua [ABU DHABI] Dana Gas of the United Arab Emirates, the largest private-sector natural gas company in the Middle East, has acquired an affiliate in Bahrain to build a gas liquids plant in Egypt, local newspaper Khaleej Times reported yesterday. Danagaz Bahrain, the Bahraini
      Xinhua  -  195 words
  • Page 16 Advertisements
    • 1556 16 I BUpmpparibas I I Consolidated Financial Statements As At 31 December 2006 I Balance sheet at 31 December 2006 Regulatory ratios I T 1 T 31 December 2006 31 December 2005 INTERNATIONAL CAPITAL ADEQUACY RATIO I In millions of euros In billion of euros 31 December 2006 31 December 2005
      1,556 words
    • 17 16 ■913HU gß%^wwwradio9T3^^B Radio 91.3 is managed by SPH Unionworks, a subsidiary of Singapore Press Holdings jr 1
      17 words

  • INDIA
    • 547 17  -  The project linking Delhi to Mumbai now has a price tag of US$100b By By SIDDHARTH SRIVASTAVA in NEW DELHI THE estimate for India's biggest infrastructure project, the Delhi-Mumbai industrial corridor (DMIC), has been doubled to US$lOO billion. The massive project is being directly monitored
      547 words
    • 299 17 Reuters [MUMBAI] French food group Danone may sell its stake in Indian biscuit maker Britannia Industries to an outside investor if it cannot reach a deal with partner Wadia Group, a daily said on yesterday. Danone will first offer shares to the
      Reuters  -  299 words
    • 292 17 Reuters [NEW DELHI] India's powerful communists protested yesterday against the first port call by a US aircraft carrier to the country, saying Washington was using New Delhi to counter the power of China and Iran. The nuclear-powered USS Nimitz will anchor in the southern port
      Reuters  -  292 words
    • 385 17 Bloomberg [MUMBAI] State Bank of India, the nation's biggest lender, will need about 500 billion rupees (SslB.B billion) in capital in the next three years to meet the demand for loans in the world's second-fastest growing major economy. State
      Bloomberg; BLOOMBERG  -  385 words
  • Page 17 Advertisements
    • 134 17 nni Saw Centre ®NUS NUS Financial Studies SCHOOL S Dept of Finance Accounting -V-- first smmßomk international m&emßet om wmm Raffles City Convention Ceflfcj^^, '•7 SaWygeSir<& for Financial /■*y'l~~ Dfi»rtraehtof Accounting X// NUS Business School x 1 National University of Singapore f h' s "~r v mMMS* \'l Keynote Speaker
      134 words

  • GREATER CHINA
    • 419 18 Bloom berg [HONG KONG] Property prices in Shanghai, Beijing and Guangzhou are too high and developers should focus on the smaller Chinese cities as consumers there grow richer, real estate executives said. "First-tier cities are getting too expensive," Justin Chiu, executive director at Cheung Kong
      Bloom berg  -  419 words
    • 589 18 Total buy calls hit 67.4% of all ratings despite govt moves to cool sentiment Bloom berg [SHANGHAI] Zhang Shibao covers 12 Chinese stocks and recommends investors buy all of them, even after they have more than tripled on average over the
      Bloom berg  -  589 words
    • 148 18 Bloomberg [TAIPEI] Taiwan's High Court has extended the jail term for Chao Chien-ming, son-in-law of President Chen Shui-bian, to seven years after he failed to overturn an earlier six-year sentence in his appeal. The island's High Court increased the sentence for insider trading because
      Bloomberg  -  148 words
    • 195 18 Bloomberg [LONDON] China is set to become the world's largest banking market and India the third-largest behind the US, according to a study by accounting firm PricewaterhouseCoopers LLP (PwC). By 2050, banks in the seven emerging economies of China, India, Brazil,
      Bloomberg  -  195 words
    • 225 18 Xinhua [NINGBO] A grand ceremony was held yesterday to mark the linking of the two ends of a trans-oceanic bridge that spans Hangzhou Bay near Shanghai on the east China coast, according to its builders. The spectacular 36-km-long Hangzhou Bay Bridge
      Xinhua  -  225 words
    • 395 18 Hanhai raises record 440 million yuan in three-day sales Bloomberg [BEIJING] A vase made during the reign of Emperor Qianlong was sold on Monday at Hanhai Auction Co for 24 million yuan (554.85 million) including commission, the highest price this year for
      Bloomberg; BLOOMBERG  -  395 words
  • Page 18 Advertisements
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      142 words
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    • 53 18 and get one choice "fvi. H I JL Caaa Maditarranea Restaurant and Bar 83 Duxton Road (inside Berjaya Hotel), To): 6221 8485 1 5 o /o Q ff tota sj|| W j t h a m j n spending of $30 I Only when you charge to your Diners Club
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  • ASIA PACIFIC/WORLD
    • 398 19 He'll do so only when democracy is 'fully restored' Reu ters, AFP AFP [BANGKOK] Ousted prime minister Thaksin Shinawatra will not return from exile to the "killing zone" of Thailand despite being ordered back to face charges of hiding assets illegally, his
      Reu ters, AFP; AFP  -  398 words
    • 409 19 Reuters [AMSTERDAM/LONDON] British bank Barclays's hopes of taking over Dutch rival ABN AMRO won a boost yesterday when a court adviser said ABN could sell its US arm without a shareholder vote. The surprise opinion from Advocate General Vino Timmerman, a law professor,
      Reuters  -  409 words
    • 565 19 LATEST US DATA Consumer confidence drops on weaker job and business outlook Reu ters. AFP AFP [WASHINGTON] Sales of new US homes fell 1.6 per cent in May to a low-er-than-expected level while prices climbed from April, according to a government report
      Reu ters. AFP; AFP; BLOOMBERG  -  565 words
    • 505 19 Firm's compliance with laws, Saudi contracts in question AFP [LONDON] The US Department of Justice has launched an inquiry into British arms manufacturer BAE Systems' compliance with anti-corruption laws, including those regarding lucrative Saudi contracts, BAE revealed yesterday. The news sent the share
      AFP  -  505 words
  • Page 19 Advertisements
    • 77 19 If you are facing any of the following: You need to keep your payroll absolutely confidential. Your payroll staff are bogged down, and are bored with the routine of rushing payroll every month, and there is limited room for staff development for payroll processing functions. You or your payroll staff
      77 words
    • 310 19 Gain fuller, 8 Stronger looking hair I with Glower. I Understanding your hair problem is the first step to solving it. Hair I problems may be by conditions I dandruff, oily/itchy flaky dry scalp, or due to poor I and hair chemical damage. At Glower, our qualified trichologists will I
      310 words

  • WORLD
    • 577 20 Many of the firms it declined to join to bail out LTCM refuse to help it save funds Bloomberg. Reuters [NEW YORK] Bear Stearns is getting a taste of its own medicine. It was Bear Stearns, the biggest broker to
      Bloomberg.; Reuters  -  577 words
    • 214 20 Bloomberg [LONDON] Vodafone Group, Deutsche Telekom and other mo-bile-phone firms lost a bid at Europe's highest court to recoup billions of euros in tax refunds from nations that sold high-speed Internet licences in 2000. Twenty European countries sold more than US$lOO billion
      Bloomberg  -  214 words
    • 485 20 Successful takeover may make it harder for Nasdaq to buy rest of LSE: analyst Bloomberg [LONDON] London Stock Exchange Group (LSE) said Nasdaq Stock Market probably won't be able to block its 1.63 billion euro (553.37 billion) bid for Italy's Borsa
      Bloomberg  -  485 words
    • 327 20 Bloomb erg INTERNET search engine Google said Microsoft Corp should remain under federal court supervision to ensure it adheres to a 2001 an-ti-trust consent decree barring it from hurting rivals. In a document filed yesterday in Washington federal court, Google said changes
      Bloomb erg  -  327 words
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  • MOTORING
    • 579 21  -  Pro-rated refunds to be given to members in cash or car rental vouchers By SAMUEL EE ONE of the four car-sharing companies here has decided to back out of the business. A week ago, City Speed Car Sharing told its 2,500plus members by mail that it
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    • 662 21  -  By SAMUEL EE CAR design is still obsessed with the myth of speed, says Roberto Piatti, even though this speed can rarely be used on today's increasingly congested roads. "Whenever a carmaker creates a car which is low, with 700
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  • Page 21 Advertisements
    • 154 21 I Excellent Commercial Site Along Singapore River Forl I Iconic Development PANORAMIC VIEW V I s//jiy iL i s-- sa«m-1 fl I "GI Parliament •■igp >r House# Superior location with regular site configuration H A$V /T Land 82,317 sq ft (approx), PR 4.9, LH99wef 15/12/1980 fe II iSe Opposite Clarke
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  • AVIATION
    • 521 22  -  One-fifth of real estate snapped up; as global players' interest growing By VEN SREENIVASAN [SINGAPORE] About 20 per cent of the aviation real estate being developed at Seletar Aerospace Park has already been snapped up more than six months before
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    • 340 22 Reuters [PHNOM CHAK] Bad weather and difficult terrain were hampering the search yesterday for 22 people, including 13 Koreans and three Czechs, on a plane that crashed in Cambodia, civil aviation safety chief Keo Sivorn said. Rescue teams were still looking for the
      Reuters  -  340 words
    • 242 22 [SINGAPORE] Singapore Aircraft Leasing Enterprise (SALE) will change its name tcJ BOC Aviation on July 2. This follows its acquisition by Bank of China from its previous shareholders which included Singapore Airlines for US$965 million last December. As BOC Aviation,
      242 words
    • 338 22 Bloomberg [NEW YORK] Northwest Airlines, the fifth-largest US carrier, cancelled at least 240 weekend flights because it didn't have enough crews, the pilots union said. "We have been saying for months that there is a staffing problem at Northwest," Monty Montgomery, spokesman for
      Bloomberg  -  338 words
    • 2128 22 oty MW n* WWWT rro iSuSi!" LHtTTI- 1750 LH9776 ISs ss Jii™ KL837 1S55 L***** 2345 Atlanta ACS20i i33S as as UL2433 0150 UL2432 2120 SQ282 0645 LH9766 2155 LH9767 2035 NZ4385 2155 NZ4386 2035 5Q285 2155 SO296 2035 taESi GFlg 0920 &149 0525 OAS 148
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    • 465 22  -  By VEN SREENIVASAN [SINGAPORE] After clinching almost US$l5 billion in new deals at last week's Paris Air Show, British engineering giant Rolls-Royce has just unveiled a contract worth some US$BOO million to supply the latest version of its Trent engine series for Singapore
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  • Page 22 Miscellaneous
    • 227 22 CRYPTIC CROSSWORD 1 Cryptic sign used by top civil IJ__LJ— BBI ■H"~~ 7 Son gets sick at sea (7) I |9 8 Acknowledged that soldiers worked steadily (7) JBL— 1 Lake and river rose alarmingly LJ__LJ 12 Manage to make a woman I I I M M Ij accept Greek
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  • SHIPPING
    • 397 23 Offer could simplify authorities' jobs in case of accidents and collisions [BEIJING] China will offer a tax holiday to entice Chi-nese-owned, foreignflagged ships to switch to carrying the Chinese flag, as a rising number of such ships in Chinese waters complicates rescue and
      AP  -  397 words
    • 283 23 Bloom berg [DUBAI] DP World, the third-biggest container port operator, raised U553.25 billion from the sale of conventional and Islamic bonds to refinance debt and fund expansion. DP World, owned by the government'of Dubai, sold US$l.5 billion of 6.25 per cent 10-year Islamic
      Bloom berg; FILE PHOTO  -  283 words
    • 816 23  -  STRAIT TALK By DAVID HUGHES ASK a Filipino seafarer what is special about Rotterdam and he is likely to say, "Gloria's Place". I know that because I have just read through a 56-page summary of an even longer report by SIRC (Seafarers' International Research
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    • 185 23 Bloomberg [JOHANNESBURG! Transnet Ltd, South Africa's state-owned transport company, said full-year profit rose 50 per cent after it sold unprofitable divisions. Profit in the 12 months through March climbed to 7.4 billion rand (Ssl.6 billion) from 4.93 billion rand a year
      Bloomberg  -  185 words
    • 265 23 It'll build 4 berths with capacity of 2m TEUs a year Reuters [HONG KONG] Chinese port operator China Merchants Holdings (International) said yesterday that it plans to buy a 14 per cent stake in a US$954 million container terminal in China's southern
      Reuters  -  265 words
    • 465 23 Reuters [SHANGHAI] Shares in China Cosco Holdings more than doubled as they listed in Shanghai yesterday, after the shipping giant's US$2 billion domestic IPO attracted a record 1.629 trillion yuan (***** billion) in subscriptions. The A shares in the world's fifth-biggest container ship operator
      Reuters  -  465 words
    • 275 23 Jun 26 SS Vol Ch Offshore .0.76 -0.02 2960 Chuan Hup Hkigs .0.40 -0.02 3666 CoscoCorp 3.76 -0.02 5438 Cwt Limited 0.99 -0.02 3699 Ezra Hldgs 535 -0.15 326 Freight Unks .0.16 0.01 ***** Grand Banks 1.12 unch 59 Jaya Hold Ltd 1.62 -0.03 383 KlVentures .0.33 -0.01
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  • Page 23 Advertisements
    • 69 23 total integration solutions for shipping companies and tkeir imsek Our technology is the most complete, robust, scalable and fully Integrated end to end solution for maritime Industry. We offer hosting, maintenance, application development, and i design, built with the most powerful technologies and f supported by the most advanced strategic
      69 words

  • EDITORIAL & OPINION
    • 512 24 EDITORIAL TEN years after the Asian financial crisis, Asia's real estate markets are bubbling again, led by Singapore. Given the key role overheated property played in that crisis, it bears asking, to what extent the current exuberance is a cause for concern this time around. According to
      512 words
    • 795 24  -  THE BOTTOM LINE FRANK CHING THE surprise visit to Pyongyang by United States assistant secretary of state Christopher Hill and the arrival this week of a team from the International Atomic Energy Agency (lAEA) mark the end of a tumultuous
      795 words
    • 1543 25  -  Small investors now have a host of new commodities investment products to pick from, including exchange-traded funds and exchange-traded notes By NELL HENDERSON AP You missed the wild ride on Cyclone Gonu? Oil traders rode that financial roller coaster for several
      AP; BLOOMBERG  -  1,543 words
    • 411 25  -  LETTERS TO THE EDITOR Samina Parvez Press Counsellor Pakistan High Commission Singapore I REFER to Aasim Sajjad Akhtar's article, "Pakistan on brink of revolution?" (BT, June 15, and have to say that, based on assumptions and self-contradic-tions, it is long on fiction
      411 words
    • 142 25  -  Thomas Ee Senior Vice-President of Cable,Fixed IP Services Star Hub WE refer to the letter, "Why the difference in fee increase, Star Hub?" (BT, June 22), by Mr Denis Distant. We would like to assure Mr Distant that Star Hub had carefully considered
      142 words
    • 842 25  - Protectionism against China more harm than good By MICHAEL RICHARDSON As pressure grows in the US Congress for tougher action against China on trade and currency issues, the rest of East Asia worries that it will be caught in the crossfire. A bipartisan bill introduced in the Senate in Washington
      842 words
    • 1003 24  -  Most recent example is the efforts by US lawmakers to squeeze more tax money from Blackstone LEON HADAR Washington Correspondent 'pM CONOMISTS have been celebrating the remarkable expansion in the financial sys--1 |pg§g| tem in recent years and the llP'*" way it has been
      AP  -  1,003 words

  • Page 25 Advertisements
    • 103 25 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletterGsph.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
      103 words

  • 10520 26 SGX MAINBOARD Transaction date: Jun 26 52-wfcs Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale ("000) High Low liryer Seller Cvr HI $md 15 2 5716 1st Software J susp 8 4 20.5 6 3148 8Telecom II -0.5 1047 19
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  • Page 26 Advertisements
    • 45 26 phoenix HbLJ Widd Mfc 1 1 111 A tK fl k 1 il 10< ilk Make an affordable Germany BHB 10* Italy Malaysia 10p w ow i H>M »■*■»< f>MM3B 1516 or visit SouthKoraa A www phoenixcomms com '.j' ioc u»A J !I■l d k' I
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  • 4858 27 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local out In S$ In USS dy yr dy yr dy %yr jun 25 Index Change Change Change Change Change Change World Index Preliminary 1179.4 OJ 7 2 0.1 8.1 0.2 75 t EAFE Preliminary 1189.9 -03 7.4 -0.2 8L5 :0J 8.3
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  • Page 28 Advertisements
    • 1594 28 UK CONTINENT SERVICE U.S.A SERVICE Destination Destination MARITIME MASTER RDM/ATW/UK STXPOTBN CAM/NFK/NOL/SAV Loods Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIPPLE-EAST SERVICE F.E./S.E.A. SERVICE Destination Destination LAURADA DBI/ABU/DOH/BRN/DMM/KWT BRIGHT MORNING INC/BSN Loads Singapore, E./W. Malaysia, Indonesia Loads E. Malaysia, Indonesia OTHER SERVICES Tramping for bulk, breakbulk, mineral ores, project
      1,594 words
    • 658 28 Imterasu toto memcM VBSa/VOT RAMrfICT) HBGWIP) W6 KM IP I SI KT STRAITS SUCCESS 21 10 12 12/07 17/07 AUSTRALIAN RORO SERVICE 1 vßsa/vor RAMpgm hbghtqr) m i sm i mh stp wa ape m FONTAIU/OW 30MT 2.4 W-W/04 23-23/04 25-25/04 27 21/04 30-30/04 positm leader/on ioomt s.o 14-14/04 30-30/04
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  • Page 29 Advertisements
    • 1579 29 WAN HAI INTERNATIONAL PTE LTD at NO: **********0/r V <\ mmmmmm 10:*****588 (14INKS) FAX:*****163 VAN WAN MAI lINFC U~-(l«00)»*****00 V 11 I VfMil nMI LlllLj miß:m]34tlMlttm»4Z3MPßllß:|M|226smNft|o4|22fMf* V-— JOH IB: 107) 2511*23 HUL (D*****W1 9* 1H: 1031) JWS47S FA* (031) 32*2714/ *****05 -I-. XT 1H: (021) 52S41UFAX:|021) S2S47MPUIIH: *****0/*****1 Wt *****1
      1,579 words
    • 1285 29 EASTERN CAR LINER, LTD If I SPKIAiIZI IN ROUP 9. HEAVY LIFT UfTO 4SO TONS~"j »—(im mttMnm |s* I p*i pmm I act 1 m 1 id LUNA A2UL 7* 35 M W/Ot 02/07 I ULAC Ad a 1 04/07 05/07 ESTRELU ETtKWA M 4 40 04/07 04/07 LLZQZ GOLD
      1,285 words
    • 635 29 WEEKLY EXPRESS SAILING SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AND WESTERN ICO POINTS >ma WY sin mum colomio ushba 1 colonic tourawt* TFWIO7 mjh mut m HIH 18 M— Uiiygaadhi oils* IBJL (HM, LUUL_ ISM utm 011 w wjui 10 Jm mm i?jul 2ijul also tcariK ra. to coo* nmcnw
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  • THE BUSINESS TIMES SHIPPING TIMES
    • 7013 30 this ETA ETA Advertiser Vessel V«yaj« Telephone SIN Desfn Name Name Number Number own «me iw« To ABIDJAN (ABJ) 2003 Cote D'lvoire 04/07 03/08 Delmas OEIMAS BAUDtN 726W *****344 04/07 05/08 Delmas DELMAS BAUDIN 726W *****344 09/07 14/08 Delmas EUSA DELMAS 727W *****344 09/07
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  • Page 30 Advertisements
    • 512 30 VESSEL VOY PKL SIN KHI DXB BAB P MM BIK HHP IRAN SATTARI PCLB2O4 03/07 04/07 13/07 16/07 17/07 23/07 25/07 17/07 IRAN TABATAMfI PCLB2O6 06/07 07/07 16/07 19/07 20/07 26/07 28/07 30/07 IRAN BAABAEI PCLB2O7 16/07 17/07 26/07 29/07 30/07 05/08 07/08 09/08 IVESSEL VOY SIN NHS BND DXB
      512 words
    • 485 30 vtssa voy sm W vkse vor sm j«t AIAAUAYA 2 9USM 27/06 27/04 MOggß 0405 04/07 t/07 PACIAMOA MM* 17/0* M/ 00 PAC HHTAM 940* 11/07 13/07 AUUUAYA2 *****1 Jt/Ot M/O* PAOMTAM *407 11/07 21/07 PACOANPA M23N M/OT M/ 00 PACOHAM MO7 25/07 27/07 vkse vor sm pku vtssa vffl
      485 words
    • 332 30 life GLORY NAVIGATION GROUpI I( sma i»70) I OWNS A OPERATES THE YOUNGEST FLEET VWIH TWELVE 7,000 DWT TWEEN DECKERS I COW—NO I I THE ENTIRE ASIA PACIFIC PORTS I REGULAR WEEKLY SEKVKES: IKAOHSIUNG A CHINESE PORTS, HON6 KONG TO FROM I SOUTHEAST ASU J SMGATOtE HUT WOON SHTPWG (5)
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  • EXECUTIVE MONEY
    • 881 32 Emerging market funds snap up stocks with capitalisation under US$2.5b, putting money on greater potential for gains Bloomberg DAVID Semple recalls sweating in the Singapore sun as he lugged his briefcase through the streets, looking for the office building of Ezra Holdings. Mr Semple,
      Bloomberg  -  881 words
    • 706 32  -  The current worldwide boom has relegated the financial disaster to a modest bump on the charts CHET CURRIER Bloomberg IN the two decades since it shook the world's investment markets down to their foundations, a strange thing has happened to the crash
      Bloomberg  -  706 words
    • 756 33  -  According to Deutsche Bank's analysis, the global economy has never looked as solid, reports R SIVANITHY R SIVANITHY ipiSSMi quity market investors would have by now heard the refrain iPhpili time, it's different" either as a inducement to buy, or 'ft to
      756 words
    • 1389 34  -  MONEY MATTERS Though equities friendly, the current correction is likely to be drawn out ft desynehronised LIM SAY BOON JUMWflii HE ongoing correction in the global equities market at the end of the second quarter has been almost orchestrated. And the corollary to this
      1,389 words
    • 696 34  -  By GENEVIEVE CUA NEW criteria for inclusion in the CPF Investment Scheme are yet to take effect, but some fund managers are already preparing to pull their funds out of the scheme. The new criteria, which include caps
      696 words
  • Page 32 Advertisements
    • 291 32 Rahn lot fpr tc nffpr an innnx/atIVP Underlying shares for Series 3: United Overseas Bank Limited, Singapore Exchange Limited, KaDOJei V_eris oner dn IllllUVdUVe SembCorp Industries Limited, Keppel Land Limited opportunity to profit from the share Issue price: SGD 1.00 Lot Size: 1,000 price movement of Singapore s blue-chip companies.
      291 words

  • Page 33 Advertisements
    • 413 33 Vv- y®* ®E@NANYANG University ofCalifornla technological ,T> 1 1 ■&£> univhrsity Berkeley IVVIV, 7 Nanyang Business School Haas School of Business if >;>•:< V' -V Merchants of ancient days relied on the Silk Road for East-West trade. V These days, there's a faster way to boost business. -J. ,V 5
      413 words
    • 427 33 1100 Lower Delta Road Fully refurbished 4 storey industrial cum office building 5 mins drive to financial district Well connected to CTEI AYE expressways Fully leased Land area of 48,599 sf JTC 60 yrswef 1-8-1969 Gross floor area of 103,624 sf Lettable area of 86,000 sf Long term leaseback with
      427 words