News Today

Try to learn more about other faiths
I APPLAUD Ms Aishah Mohamed's letter ('Don't call non-Muslims infidel or kafir'; ST, Feb 13), for her efforts to clarify certain terms used by some faiths on others.It is essential for people like us, who live in a multi-racial, multi-religious society,... [Read more]

The New Paper
The New Paper will not be published tomorrow. It will be the only English paper on sale on Monday, at the usual outlets from 7am.... [Read more]

Contracts for shipping sector firms steam ahead
TRADING of covered warrants issued on companies in the shipping sector is steaming ahead of that for their counterparts in other sectors.In the past trading week, turnover for shipping sector warrants cruised past that for traditionally more popular sectors such as... [Read more]

Appreciation of the arts sorely missing
I read with interest the article 'Crazy Horse show to shut down' (ST, Jan 26).The closure of Crazy Horse brings to mind yet another distinctive performing arts company. In 2000, Cirque du Soleil set up its Asia-Pacific headquarters in Singapore. However,... [Read more]

Unity is the key for Liverpool
DEFINITIONS of opposition have tended to focus on teams in different colours. But, when Barcelona and Liverpool meet tonight, some participants will harbour stronger, and hardly friendly, feelings towards their colleagues. Teamwork and friendship can be very different things. After recent... [Read more]

Speculation mounts over form of new Thai charter
BANGKOK - SPECULATION is intensifying in Thailand over the shape of the next Constitution, after the election of a controversial former intelligence chief to chair the 35-member drafting committee.Mr Prasong Soonsiri, 79, was among 10 members of the committee handpicked by... [Read more]

Japan uses cute toons as military mascots
TOKYO - PRINCE Pickles, a perky cartoon character with saucer-round eyes, big dimples and tiny boot-clad feet, poses in front of tanks, rappels from helicopters and shakes hands with smiling Iraqis. The cutesy icon hardly calls to mind the Japanese military... [Read more]

We need a unique Singaporean roar
With the recent euphoria on our Lions' victory at the Asean Football Championship and comments made in the Forum pages about cheering our team, I think the time has come for a Singapore Roar to be created.This will be the rallying... [Read more]

Nuclear bombs 'a heavy burden to bear'
NUCLEAR bombs are a heavy load for any country to carry, says Mr F.W. de Klerk. He ought to know, having been the only leader ever to have ordered the dismantling of his country's nuclear arsenal, developed in secret under an... [Read more]

CapitaLand earns $40m from sale of office space
CAPITALAND has sold all its entire interest in the Samsung Hub office block to two different buyers for a gain of $40 million.The entire divestment of space in the central business district building amounted to $152.9 million.Property company Ho Bee Development... [Read more]

Blair 'doesn't have the discipline to keep diary'
BRITISH Prime Minister Tony Blair admitted that he has not kept a private diary during his nine years in power, raising questions about how complete his memoirs will be. Mr Blair, who has pledged to leave office by September, said simply... [Read more]

Piping business boosts VicPlas' interim gain

SESDAQ-LISTED VicPlas International yesterday reported a near-doubling of its interim net profit to $1.6 million from $831,000.

Revenue for the six months ended Jan 31 rose 34.7 per cent to $8.1 million, thanks to increased sales at its PVC pipes and pipe fitttings business.

This division contributed 87.3 per cent towards total revenue, with the remainder coming from sales of medical device components.

Its 50 per cent owned joint venture, Forefront Medical Technology, contributed $1.13 million to group earnings compared with $1.4 million previously.

VicPlas attributed the drop to lower sales prices and start-up expenses incurred prior to the commercial production of a new medical device.

Group pre-tax profit doubled to $1.7 million due mainly to improved sales at the pipes and fittings division, as well as a recovery of inventory that had been written off in the last financial year.

Earnings per share firmed to 0.64 cent from 0.32 cent previously while net asset value per share climbed to 7.15 cents compared with 6.51 cents as at July 31 last year.

No interim dividend was recommended.

Given the strengthening of the construction industry from the redevelopment of collective sales sites and the increase in the number of property developments, the company is optimistic that its pipes and fittings business will remain positive in the second half-year.

VicPlas shares yesterday ended unchanged at 13.5 cents.

News Today

Slew of measures aimed at creating SME haven
THE Government aims to make Singapore the best place in the world for small and medium-sized enterprises (SMEs) to start, grow and globalise. A slew of new measures was outlined in the Budget aimed specifically at this sector of the economy.... [Read more]

Inappropriate time slots for prime-time trailers
I am a regular viewer of Ch5 and I am bothered by some of the commercials and shows aired by the channel. Being the premier English channel in Singapore, I expect MediaCorp to be more in tune with the larger English-speaking... [Read more]

Directors' trades
2 AZTECH DIRECTORS EXERCISE OPTIONS TWO independent directors at Aztech Systems exercised stock options recently after a resurgence in the company's stock market fortunes. Mr Colin Ng, a lawyer, exercised 500,000 share options on Monday. The exercise price was 11 cents.... [Read more]

Not allowing a scientist the exclusive use of his research findings may be detrimental in the long run
The direction of biomedical research has been brought into question and, as a consequence, the symbiosis between industry and research. One proposal was that although a manufacturer would be free to spend millions to secure a cure (new medicine), after three... [Read more]

MBA students turn class projects into 'real' business
THREE postgraduate business students saw the 'real' in their real estate class projects for what it could mean - real opportunity.The trio identified the demand for short-term housing rentals of under a year, and the clientele - mature, executive-type students who... [Read more]

Industry views
THE BIG QUESTION'The big question is also how the industry can bring together all these resources for all the big upcoming projects and manage the scale without sacrificing on quality.'PROFESSOR GEORGE OFORI, head of the Department of Building (School of Design... [Read more]

Red light for traffic photo contest
KUALA LUMPUR - EMBARRASSED officials have suspended a contest offering citizens cash for photographs of traffic offenders after protests from lawyers. The 'Snap, Send and Win' contest had a weekly prize of RM150 (S$66) for the best picture of traffic offences,... [Read more]

Innova JC goes big on new media
STUDENTS at Innova Junior College do not just write General Paper essays when it comes to current affairs - they make documentaries too. Before assembly every morning, the students catch up on college news through their very own podcast show. There... [Read more]

Floods cripple much of Jakarta
JAKARTA - MUCH of Jakarta was crippled yesterday as the worst deluge in five years cut road, rail and telecommunications links to the Indonesian capital. Three-quarters of the sprawling city of 12 million people was under water, and officials now face... [Read more]

Almost all quake-hit cables fixed
BEIJING - CHINA'Sbiggest telecommunications companies have restored nearly all phone and Internet capacity that was affected by last month's earthquake near Taiwan, state media reported yesterday.China Telecom and China Netcom said major cables handling fibre-optic traffic, mostly between China and North... [Read more]

Results
BASKETBALLNBA: Dallas 80 Houston 77, Cleveland 114 LA Lakers 108.CRICKETFirst Chappell-Hadlee series one-day match in Wellington: Australia 148 all out in 49.3 overs (M. Hussey 42; Bond 5-23, Gillespie 2-27, Vettori 2-26, McMillan 1-3). New Zealand 149-0 in 27 overs (L.Vincent... [Read more]

Firm demand for CapitaLand issues as stock price fluctuates

THE recent market plunge has not dampened investor enthusiasm for covered warrants on property giant CapitaLand.

They have been snapping up growing numbers of the contracts on the counter, as the mother share price gyrated by as much as 20 per cent over the past week.

And there are plenty of warrant contracts - with different strike prices and maturity periods - for them to choose from.

'CapitaLand has enjoyed a good run-up, and this has encouraged traders to continue to take an exposure on the stock via the covered warrants,' said Mr Ooi Lid Seng, Societe Generale's (SG's) vice-president for structured products for Asia ex-Japan.

What traders like about CapitaLand is its large exposure to the red-hot China property market and its choice land bank in Singapore.

CapitaLand also controls some of the hottest real estate investment trusts (Reits) listed on the Singapore Exchange.

A Merrill Lynch report on Tuesday picked CapitaMall Trust, CapitaCommercial Trust, CapitaRetail China and Ascott Residence Trust as its key stock picks for this year.

An added attraction is the volatility of CapitaLand's share price, which magnifies any gain that a covered warrant may enjoy.

Buying a call warrant gives the holder an option to buy into a stock or a stock-market index over a period of three to nine months at a pre-set price - so generally their holders would like to see a rally.

Put warrants, however, give its holders the option to sell a stock or a stock-market index at a pre-set, or 'strike' price over a period.

Mr Ooi said that the most popular call warrants on CapitaLand issued by SG have strike prices of $6.50, $6.85 and $7.35. One popular put warrant comes with a strike price of $7. 'All these strike prices are close to CapitaLand's current market price,' he added.

'In a volatile market, people can take a position on where CapitaLand is headed. If they are bullish, they can buy the call warrant. And they can hedge their risks by buying into the put warrants.'

CapitaLand shares fell five cents to $6.85 yesterday.

GOH ENG YEOW

engyeow@sph.com.sg

Half-fit Henry will play today

LONDON - TO SAVE Arsenal's season, a half-fit Thierry Henry will be risked against PSV Eindhoven today.

He has not played since the first leg of the last-16 Champions League tie, which Arsenal lost 0-1 in Eindhoven.

The captain had a painkilling injection in his foot to get through that match. Manager Arsene Wenger has admitted it only made the injury worse.

'Henry is 50-50 and really not more,' Wenger told Sky Sports.

'But if he can run and play, of course, I will put him in the squad. I do not think we will give him another injection because that did not work the last time.

Failure to overturn PSV's lead at the Emirates Stadium would leave Arsenal empty-handed for a second consecutive season. They lost to Chelsea in the League Cup final, and crashed out of the FA Cup at Blackburn.

In contrast, PSV are on course for a third successive domestic league title. They have the experience to shut out opponents and hit them with a sucker-punch.

The Dutch team have conceded a mere 15 goals in 27 Eredivisie games this season.

'I feel 0-1 is a tricky score. It is difficult, psychologically more than in football terms,' Wenger said on the Arsenal website.

'Obviously, we will have to strike the right balance, and try and get one back as quickly as possible.

'I don't expect PSV to attack us. They try to suck you in and counter-attack.'

The longer the game goes without a goal, the more comfortable PSV will be, the greater the pressure will build on Arsenal, and the more desperate their attacks will become.

So, an early goal will be crucial for the Gunners. At least there is a precedent. Gilberto Silva scored the fastest goal in Champions League history against PSV five years ago.

The midfielder netted after just 20.07 seconds. Arsenal went on to win the game 4-0 in Eindhoven, where their players suffered racial abuse by the fans.

Gilberto said: 'At the end, some of the fans started to sing some monkey songs. The players were very upset. That was the only time I've really encountered this particular kind of problem.'

He admitted that Arsenal cannot afford to lose today.

'It is the biggest game of our season because if we lose, the season will be over in terms of trophies,' the Brazilian said.

'We are going to have to be patient.

'They sat back against us, waited for our mistake, and they capitalised when we lost concentration.

'But we have 90 minutes to win the game, so it is important to remain calm. The rest of our season is in our hands.'

More likely, their goalkeeper's hands - if the match goes into a penalty shoot-out.

That is far from ideal for the Gunners. PSV's Heurelho da Silva Gomes is a formidable opponent in penalties, reported The Guardian.

At 1.96m in height, he wears size-10 gloves, can throw the ball out as far as average goalkeepers kick it and, for another party trick, taps the crossbar with his shoulders when he jumps.

Coach Ronald Koeman called him world class, adding: 'You can only score when you aim balls at the top corner with a speed of 130kmh.'

Gomes laid the foundation for his team's first-leg victory with a couple of brilliant saves.

Wenger is worried that the tie may be beyond Arsenal, and is already looking for a silver lining.

He claimed Arsenal will still have had a successful season if they lose today, after getting the chance to blood youngsters like Theo Walcott, Denilson and Abou Diaby.

He said: 'If we lose to PSV, it will be a big blow but it will not stop the club going forward.

'This team is a machine that nothing can stop progressing. I am convinced of that because of what I have seen of the youngsters.

'The average age of the team that played in the League Cup final was 19. The future is very positive. That is why we have to be strong when we don't win.'

But, in reality, getting knocked out of the Champions League will leave Wenger unfulfilled in Europe's top club tournament.

All that will be left for Arsenal is to strive for third place in the Premiership.

Defeat by PSV would also end their unbeaten record at the Emirates Stadium - a depressing prospect.

News Today

Utd have to fight complacency
THERE is a sense that much of Manchester United's Champions League campaign has been about righting the wrongs of last season. That is certainly the case in their swift reunion with Lille. The unheralded French team defeated the Red Devils for... [Read more]

Companies in brief
PACIFIC HEALTHCARE IN $32M TIE-UPMAINBOARD-LISTED health-care provider Pacific Healthcare Holdings has inked a $32 million joint venture deal with Kuwait Finance House to build new medical centres in Asia.Pacific Healthcare will take a 40 per cent stake in the venture. Kuwait... [Read more]

Chiam: Difficult to fulfil lift promise
OPPOSITION MP Chiam See Tong is finding it a struggle to fulfil an election promise to provide his HDB residents with lifts on every floor.Lift upgrading was a carrot the People's Action Party (PAP) dangled in the last general election.The opposition... [Read more]

Invest time and energy to guide and nurture the young
Making learning IT-based and engaging seems positive and enthralling. However, I view online-gaming way to learning with a certain degree of unease and scepticism. I concur with NUS sociologist Pauline Straughan's assertion that face-to-face interaction with the teachers and fellow students... [Read more]

Carmaker mulls over executive bonuses
FORD Motor is considering paying bonuses to managers for last year, despite record losses and massive job cuts, a step expected to be opposed by its unionised factory workers. Ford chief executive Alan Mulally said in a conference call with analysts... [Read more]

$15, 220 missing from charity's bank account
THE new management team at troubled charity Youth Challenge has discovered that $15,220 is missing from its bank account.The money was withdrawn though an unauthorised online transaction on Jan 15.It is believed to be for staff salaries, including that of its... [Read more]

PM: Budget to offset GST impact on lower-income
AHEAD of the Budget to be unveiled on Thursday, Prime Minister Lee Hsien Loong yesterday assured lower-income Singaporeans it would contain measures that would more than offset the impact on them of a planned increase in the goods and services tax... [Read more]

Alwyn Lim likely focus of claims against third parties
FORMER National Kidney Foundation (NKF) vice-chairman Alwyn Lim is expected to take centre stage as the next chapter of the NKF saga unfolds. Mr Lim, an accountant, is one of the third parties former NKF chairman Richard Yong and former treasurer... [Read more]

Save the earth for current generation
I REFER to the letter, 'Air-con, covered walkways make life less of a drudgery', by Mr Ow Yeong Wai Kit (ST, Feb 7). While it is true that most of us would not want to compromise on our current standard of... [Read more]

China minister on trade trail
WHAT IT IS CHINESE Foreign Minister Li Zhaoxing has a busy week visiting India and then Japan. Mr Li's four-day visit to India, which began yesterday, will boost trade and tourism cooperation as well as see the launch of a hotline... [Read more]

TV times
CRICKET: Commonwealth Bank Series, 9th ODI: New Zealand v England (Live, 1.30pm). Castle Test Series: South Africa v Pakistan; 3rd Test, Day 5 - 2nd and 3rd Session (Live, 9.30pm) - Ch95.HANDBALL: Men's World C'ship: Q-finals (Live, Ch22, tomorrow, 12.30am &... [Read more]

News Today

Subsidies for kindergarten fees to be raised
KINDERGARTEN schooling will be made more affordable for low-income families with children.The Government yesterday announced that it will raise the level of subsidy for kindergarten fees under the current Kindergarten Financial Assistance Scheme.The subsidy will increase from 75 per cent to... [Read more]

Croc park up for sale for the third time
REPTILE Paradise may be its name, but life for the crocodiles at the beleaguered Jurong tourist attraction recently has been no Eden. Dwindling visitor numbers forced the crocodile park to close its doors last June, leaving 60 crocodiles to live with... [Read more]

Thai PM Surayud: 'I'm not weak, just very careful'
BANGKOK - THAILAND'S army-installed Prime Minister, answering criticism that his government is slow and indecisive, says he must be 'very careful' as he lacks a support base 'like a political party'. General Surayud Chulanont was speaking in an exclusive interview with... [Read more]

Envoys told to rebut Thaksin
BANGKOK - THE Thai government has asked its diplomats to counter the comments made by deposed prime minister Thaksin Shinawatra in interviews with international news organisations.In a number of interviews with newspapers, magazines and TV channels - the latest being an... [Read more]

Woman in coma in Perth hospital
A SINGAPOREAN tourist was in a coma in a Perth hospital last night after she nearly drowned on a diving trip off the west coast of Australia on Monday. Miss Serene Teng's boyfriend, who was with her during the dive, was... [Read more]

Special exemption
ANNIKA Sorenstam has given a sponsor's exemption to MacKinzie Kline for the Ginn Tribute, a golf tournament sponsored by the Swedish world No 1.Kline is a talented 14-year-old with a rare heart condition. As she cannot walk long distances without becoming... [Read more]

Number of jobs created last year at record high
A BUMPER crop of jobs was created last year, with slightly more than half going to Singaporeans and permanent residents. The job market was at its peak, with 173,300 jobs added, beating the previous year's record gains of 113,300. Locals -... [Read more]

Mob attacks hospital after VIP patient dies
SHANGHAI - ABOUT 200 people attacked a hospital in southern China after the wife of the local taxation bureau chief died following an operation, sparking an online debate about the abuse of authority. The incident in Leiyang, Hunan province, began on... [Read more]

Today's Headlines
All's fair game in the blogosphere - or is it?KUALA LUMPUR - WHEN a manager of an Islamic insurance company sent an e-mail asking Muslim staff not to offer Deepavali greetings to Hindus last October, it quickly became the talk in... [Read more]

Korea University chief accused of plagiarism quits
SEOUL - THE head of a prestigious South Korean university resigned yesterday following accusations of plagiarism in his research papers.Dr Lee Phil Sang, who has been under fire since he became president of Korea University in December, submitted his resignation to... [Read more]

Opting out of Hota: It?s a matter of wresting back control over our persons
I wonder how Dr Lee Wei Ling, 'Organ transplant: Unease over last-minute opt-out' (ST Forum, Feb 22), came to the conclusion that 'given a choice, the vast majority of families would object strongly if they thought this could prevent their loved... [Read more]