The Business Times, 6 May 2000

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Microfilm: NL21804
Total Pages: 24
1 24 The Business Times
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  • Title Section
    Lock icon Masthead
    14 1 THE BUSINESS TIMES MITA(P) 035/12/1999 85C SINGAPORE Internet: hup://business-times.asial .com.sg/ SATURDAY, MAY 6. 2000
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  • Article
    Lock icon MARKET SUMMARY
    67 1 □sn 2,***** (-2.44) BT-SRI 789.23 (+2.99) SmSCI FUTURES 282.00 (+0.40) STOCK MARKET INDICES Friday Change KLSE COMP 925.45 +1&78 NIKKEI Closed HANG SENG *****.64 -45.4-1 SET INDEX Closed JAKARTA COMI' 545.61 +6 64 MANILA COMP 1^51.90 -1.44 TAIPEI WPI 8.698.53 +273.15 SEOUL COMP Closed CLSA CHINA B Closed
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  • Article
    Lock icon FINANCE
    82 1 FOREX RATES rs$ s$ IISS 1.719 per 1.533 2 636 EURO(US$/SS/E) 0.894 1.536 DM 2.189 0786 YEN 1075 1600 RM 3.800 0.452 HKS 7.790 0.221 BAHT 38.48 0045 RUP1AH 7,978 0022* St lo 100 units PRIME RATES SINGAPORE* 5.H0 KI'ALA UIMPTR 7.67 JAKARTA .19.00 BANGKOK 9.5# MANILA II IN)
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  • Article
    Lock icon US jobless rate falls to 30-year low
    655 1 Stocks rally early as market discounts likely Fed rate hike Bloomberg, Reuters [WASHINGTON] The US unemployment rate fell to 3.9 per cent in April, the lowest in 30 years, as the record economic expansion kept pulling in workers and boosted employee earnings, the
    Bloomberg,; Reuters  -  655 words
  • Article
    Lock icon DBS delays charging fall-below fee for CPF to arrange savings transfer
    697 1  -  Concession applies only to single-account customers; multiple-account holders face $2 fee from June 1 Conrad Raj [SINGAPORE] DBS Bank has acceded to the government's request to delay its planned $2 monthly fee on accounts with less than $500 until
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  • Article, Illustration
    Lock icon Three former DBS Land stalwarts join Far East group
    524 1  -  BnawiiMfld Fan, Aathar, Koo will be involved in e-commerce By Kalpana Rashiwala (SINGAPORE] Three former stalwarts of DBS Land Fan Kow Hin. Andrew Aathar and Koo Shuang Yuan have joined Ng Teng Fong's Far East Organization and its sister company Sino
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  • Article, Illustration
    Lock icon Loveletter computer virus causes billions in damage worldwide
    574 1  -  Locally, virus detected before it could damage govt computers Ih Jane Cheong [SINGAPORE) Seeing the words "I Love You" on an email is not exactly a cause for joy when it is a particularly virulent strain of the "Loveletter" virus that cripples
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      Lock icon Page 1 Advertisements Column 1
      98 1 INSIDE The Arts Wf Opera gets the royal treatment. EL 4 El iiflßi This Thomas is no doubter. EL 5 BT Comment Why Creative Tech's profits are likely to be volatile. Pg 3 Top stories Many dot-coms will be dot-gone, predicts NYSE chairman Richard Grasso. Next Page George Soros calls
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      19 1 9 z r» Installation Art why?? r r* The Arts, Back Page Full text off Dhanabalan's speech Next Page
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      28 1 Fed officials unsure of Fed's next move: report, Pg 13 DBS Land management remains strong, Pg 6 Asian computer users assess sting of Love Bug's bite, Pg 8
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    • ON THE grapevine
      • Article
        Lock icon Afterthought
        96 2 INFOCOMM Development Authority chairman Lam Chuan Leong began delivering a speech at 9am on Thursday, and the speech was not available on the IDA Web site until well after 3pm In Internet time, this is like two weeks. Why was the government agency so slow? An IDA spokeswoman said
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      • Article
        Lock icon Missiles and the MRT
        64 2 ACRONYMS are not always what you think they are. Take the CTE (Central Expressway) and MRT (Mass Rapid Transit), for example. Did you know that CTE also stands for chief test engineer and coal tar enamel? And MRT is an abbreviation for maintenance recovery team, mean
        64 words
      • Article
        Lock icon ILOVEYOU to death
        49 2 BEWARE of e-mail with the subject heading "ILOVEYOU", according to e-mail warnings from US-based anti-virus specialist Symantec Corp. The virus is said to be "dangerous" and affects mainly Microsoft Outlook users. A "cure" is expected to be available soon on the company's Web site at www.symantec.com.
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      • Article
        Lock icon Wrong timing
        90 2 SPEAKING of the ILOVEYOU virus, a few copies of these turned up in our office. But as all the recipients had been pre-warned to delete them, no harm was done. The same, however, cannot be said of a large number of companies, said to include Goldman Sachs* Hongkong
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    • Article, Illustration
      Lock icon Many dot-coms will be dot-gone
      434 2 NYSE chairman cites business models that will never make money Bloomberg (NEW YORK] Richard Grasso likes to joke that a New York Stock Exchange chairman who makes market forecasts soon becomes a former NYSE chairman. In an unguarded moment at a private gathering last night,
      Bloomberg  -  434 words
    • Article, Illustration
      Lock icon We've tried to go the extra mile: DBS
      1602 2 We reproduce below the full text of the statement by DBS Bank chairman S Dhanabalan at a meet-the-press session yesterday on bank fees Implement fees as announced earlier IN June, we will implement the new bank fees, as announced earlier on April
      DESMOND FOO ST  -  1,602 words
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  • SINGAPORE companies
    • Article
      Lock icon Counter-bid for HKT? No comment, says SingTel
      667 3  -  Richard Li shrugs off rumours as another attempt to delay takeover From Quak Hiang Whai in Hongkong SINGAPORE Telecommunications yesterday declined to comment on fresh rumours that it was putting together a consortium to counter-bid for Cable Wireless HKT, while Richard Li shrugged
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    • Article, Illustration
      Lock icon SingTel in $5m push to help SMEs
      365 3  -  15,000 SMEs to get customised online system By Kenneth Lee SINGAPORE Telecom will spend $5 million this year to offer better business solutions to small and mediumsized enterprises (SMEs). In the next few months, it will pick 15,000 SMEs and equip them with
      FILE PHOTO  -  365 words
    • Article
      Lock icon Creative's earnings likely to be volatile from here on
      756 3  -  HocKißgrmauj kenneth james WHAT'S the connection between Creative Technology's strategy and Sim Wong Hoo's shirt? Quite a bit, as it turns out. When the Creative Technology chairman met the local press last week to talk about his company's strong quarterly results,
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    • Article, Illustration
      Lock icon DBS expects higher rates despite sluggish loan growth
      458 3 Bank has no plan to raise prime but will keep watch on Fed Reuters SINGAPORE'S largest bank DBS Group sees room for higher interest rates despite anticipation of sluggish loan growth this year, the bank's vice-chairman and chief executive John Olds said
      Reuters; FILE PHOTO  -  458 words
    • Article, Illustration
      Lock icon AsiaOne to include Web site on healthcare
      284 5  -  Asia One Health Answers is set to be ready by middle of this month By Jane Cheong NOW you can do more than just read the latest news, shop or place your bids for an e-auction at Asia One. The Internet arm of
      FILE PHOTO  -  284 words
    • Article
      Lock icon Ipco hits day high of $4.24, but ends 22c down
      266 5  -  Andrea Tan IPCO International shares, which have been actively traded lately, hit an intra-day high of $4.24 yesterday before closing at $3.78, down 22 cents on a volume of 4.8 million units. Ipco's share price has shot up dramatically, from
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    • Article
      Lock icon DBS Land puts annual report on the Web
      273 5  -  It goes further than others with a multimedia site Andrea Tan DBS Land's annual report has scored another first this time with its flashy multimedia website. Unveiled yesterday, the property developer's latest annual report www.dbsland.com/AR1999 received the thumbs up from analysts and
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    • Article
      Lock icon Debt revamp: FHTK explains need for 3 more months
      416 5 Period seen as necessary to finalise plans with creditors THE heat is being turned up on FHTK Holdings, which yesterday said a creditor of a subsidiary has demanded repayment of loans even as the group strived to work out a debt
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      524 3 I SUPERIOR METAL PRINTING LIMITED I (Incorporated in the Republic of Singapore) I NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Company will be held at 7 Benoi Sector, Singapore I *****2 on 29 May 2000 at 3.00 p.m. for the purpose of considering and, if thought
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  • SINGAPORE markets
    • Article, Illustration
      Lock icon Acma's 2001 warrant worth close monitoring
      175 4  -  WARRANT WATCH R Sivanithy ONE of the market's recent favourites has been Acma's 2001 warrant. This was probably because businessman Oei Hong Leong has been raising his stake in Acma while, at the same time, the com pany is reinventing itself as an Internet
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    • Article
      Lock icon Untitled
      498 4 Stocks Volume AirOcean 5c 81,793.000 Medi-Rad 5c 70,783.000 GiantWTech HK10 53.052,000 HMI5c 46,168,000 ParkwayLab 5c 38,297,000 Food Empire 5c 37,516,000 Medtecs HK5c 28,973,000 ThaiVillage 5c 27,970,000 Lee Metal 5c 20,377,000 GMG Global 5c 15,080,000 Stocks Chart Semiconductor 26c 57,969,576 Medi-Rad 5c 41,437,405 ParkwayLab 5c 33,767,815 DBSGrp 21.886,725 IPC020C 18,130,596 AirOcean
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    • Article, Illustration
      Lock icon Penny stock punting lifts volume to highest since Feb
      529 4  -  STOCKS r.sivanithy HOUSE traders' recent efforts to keep interest alive in the market paid off handsomely yesterday, as retail players were finally persuaded to re-enter the market. Though it was nothing like the heady days of April-June last year, their return
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    • Article, Illustration
      Lock icon Run may see PSC clearing 25c level
      254 4  -  HOT STOCK By Ven Sreenivasan PROVISIONS Suppliers Corporation's stock has been one of the most illiquid counters on the local bourse this year. This was despite the fact that the compa ny recently split its 25 cents par value shares into five new
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    • Article
      Lock icon Market Notices
      132 4 ♦Singapore Computer Systems will hold their AGM on May 25 at 11.00 am, at Auditorium, 7 Bedok South Road. UOL Ltd will be holding its AGM and EGM on May 23 at 3.30 pm, at UOB Penthouse, 61st Storey, UOB Plaza 1,80 Raffles Place. ♦RAFFLES Medical: Renounceable rights
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    • Article, Illustration
      Lock icon Yen soars, pound tumbles ahead of US jobs data
      332 4  -  CURRENCIES larry wee AHEAD of closely-watched US jobs data for April scheduled for release last night, players said that a large sell order executed by a US bank overnight, possibly originating out of Asia, saw the greenback turn down sharply against
      Source: Reuters  -  332 words
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      Lock icon Page 4 Advertisements Column 1
      120 4 J| Production 1 r;r vfo& I jj B Sigmund Romberg 2 2 3 cl The Greatest American Operetta of the *****... Made famous by the voice of Mario Lanza in the movie of the *****... I Now experience this enchanting Operetta once again in the vear 2000. 3 4, 6,
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      Lock icon Page 4 Advertisements Column 2
      25 4 Do you need flexible financing for your share purchases 7 Call us at 323-3955 and find out what we can do for you ©DBS BANK
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      103 5 SATS Singapore Airport Terminal Services Limited INITIAL PUBLIC OFFERING 110,000,000 Existing Shares at 552.50 each CLOSING 10 May 2000, 8:00 a.m. i fl I' it-:** T i- A Applications for Offer Shares may only be made by way of printed Application Forms or Electronic Applications as referred to in the
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      Lock icon Page 5 Advertisements Column 2
      98 5 sia EnGinEERinG comPAny SIA Engineering Company Limited INITIAL PUBLIC OFFERING 110,000,000 Existing Shares at 552.05 each CLOSING 10 May 2000, 8:00 a.m. Applications for Offer Shares may only be made by way of printed Application Forms or Electronic Applications as referred to in the Prospectus dated 4 May 2000. Applications
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  • MAIL bag
    • Article
      Lock icon Give F&N board till year end to work things out
      356 6  -  Narayana Narayana Singapore WHEN I wrote (Dec 18, 1999) wondering why F&N should pay a 10 per cent premium over the market to acquire the holdings in Times Publishing from the OCBC Bank stable, I was under the impression it
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    • Article, Illustration
      Lock icon HDB on resale price info
      97 6  -  Leong Chok Keh Head, Policy Property Section for Chief Estate Administration and Property Department Housing and Development Board WE would like to thank Patrick Tan Choon Hong(BT, April 6) for his suggestion on the release of transacted resale prices of HDB flats. HDB is currently
      FILE PHOTO  -  97 words
    • Article
      Lock icon Times Pub deal a puzzle
      134 6  -  Denis Distant Singapore I REFER to the letter "Plenty in Times Pub that can benefit F&N" from Tan Keng Soon (BT, May 4). If his information is accurate I wonder how could all those great fund managers have missed this underpriced counter. And again if
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    • Article
      Lock icon Market decides project sizes: URA
      247 6  -  Ang Hwee Suan Head (Public Relations) for CEO and Chief Planner Urban Redevelopment Authority I REFER to the letter "Combine small sites to build bigger condos" by Ang Ah Lay which appeared in The Busi ness Times on May 4. We would like to thank
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    • Article
      Lock icon Management at DBS Land remains strong
      199 6  -  Jeanne Wong Senior Manager Corporate Communications DBS Land THE story headlined "Han pays tribute to DBS Land team" in BT yesterday requires an important clarification: DBS Land continues to have a strong management team headed by Ed Ng as President and CEO. And contrary
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    • Article
      Lock icon Email list proves govt is listening
      231 6  -  Tan Kok Tim Singapore MANY of us including myself have written in to suggest to the government that it should provide the email addresses of our President and our Prime Minister on the government Web site. It has been worth my time to wait
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  • Article
    Lock icon BT SHARE information service
    4900 6 Net Mm IPS Network Foods Mar 28 P 1685L 13.606L 0.00 0.1L Date TV LY TY IY Now Toyo Mar 30 P 3.067 1.940 1.43 0.91 Company ton ($m> <$m) (eta) (eta) NM Hldgj Mar 27 P 4.596 4.490 3J9 3.45 ~~"~™~~~Mpporcraft Mar 27 P 2.206
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      36 6 You can e-mail us at btletter@sph.com.sg or fax us at *****71, or mail your letter to: The Business Times, Times House, 390 Kim Seng Road, Singapore *****5. Please give your full name, address and telephone number.
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  • SINGAPORE news
    • Article, Illustration
      Lock icon Yahoo!, msn.com, Pacfusion top 3 sites for S'pore surfers
      317 7  -  By Toh Han Shih THE two most popular Web sites for Singapore surfers are Yahoo! and Microsoft Network (msn.com) in that order. Both are foreign. But the third most popular Web site in Singapore is local Pacfusion.com, the electronic commerce site
      Source: ACNielsen eRatings.com  -  317 words
    • Article
      Lock icon PM Goh sees worsening world developmental gap
      493 7  -  Developed economies have more to gain from new issnes on trade liberalisation agenda By Eugene Low THE gulf between developed and developing countries will worsen this century, as new issues like services, biotechnology and electronic commerce will dominate the trade liberalisation agenda, said
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    • Article
      Lock icon Korean venture lifts SP's investments abroad to $1b
      351 7  -  S'pore Power pays USs77m for water treatment plant By Eugene Low SINGAPORE Power (SP) has acquired a water treatment plant in South Korea for U5576.5 million (*****.5 million) from Samsung General Chemicals (SGC). This latest investment, made through Singapore Power International, follows
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    • Article, Illustration
      Lock icon Game for an'entry level' Harry Winston?
      613 7  -  The exclusive watches and rings start from $12,000 By Corinne Kerk FANCY owning a piece of Harry Winston jewellery but don't quite have the budget of its rich and famous clients? Well, there's hope yet. Try an "entry-level" Harry Winston watch or ring, starting
      ARTHUR LEE  -  613 words
    • Article
      Lock icon Jeyaretnam declared a bankrupt by High Court
      278 7 The Straits Times WORKERS' Party chief JB Jeyaretnam was declared a bankrupt by the High Court yesterday after he failed to settle a $30,000 debt which arose from a defamation suit. As the bankrupt order is in force, it means that he has
      The Straits Times  -  278 words
    • Article
      Lock icon TDB to open trade office in Mexico City
      180 7 THE Trade Development Board (TDB) is opening a new trade office in Mexico City, its first full-fledged office in Latin America. Trade and Industry Minister George Yeo, who will be on a three-day visit to Mexico from May 8 to 10, will
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    • Article
      Lock icon Access code 1515 goes for $77,900
      328 7  -  IDA auction sees seven of 12 codes sold By Catherine Ong THE Infocomm Development Authority (IDA) said yesterday that its auction of four-digit access codes for overseas calls fetched the highest bid of $77,900, and nearly half a million dollars for its coffers. Out
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    • Article, Illustration
      Lock icon The Esquire put up for en-bloc sale with $40m price teg
      217 7 Site can yield 48 units; breakeven cost works ont to abont $1,400 psf THE Esquire, off Orchard Road, is up for collective sale and carries a price tag of about $40 million. The land cost for the 16,067 square
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  • e News
    • Article, Illustration
      Lock icon Asian computer users assess sting of Love Bug's bite
      696 8 HONGKONG Virus said to have caused USslb of damage in N America Bloomberg. AP, AFP COMPANIES and computer users around Asia were assessing the damage yesterday from a virulent email virus known as the "Love Bug" suspected of having originated in
      Bloomberg.; AP,; AFP  -  696 words
    • Article
      Lock icon Love Bug's got email offepring, no Joke
      184 8 Reuters [NEW YORK] The "Love Bug" computer virus has given birth to a new variant that entices users to open an email with the word "Joke" in the subject line that unleashes yet another virus masquerading as a "Very Funny" attachment. US business
      Reuters  -  184 words
    • Article
      Lock icon Intel, Microsoft former workers charged
      178 8 CHICAGO Bloomberg FORMER Intel Corp and Microsoft Corp workers are among the 17 alleged computer software pirates charged with conspiracy to infringe more than 5,000 programme copyrights, the US Attorney's Office said. Four of the Five Intel employees named by a federal grand jury allegedly
      Bloomberg  -  178 words
    • Article, Illustration
      Lock icon Movie-ng online
      48 8 [NEW YORK] Producer Stephen Simon (left) had one condition for making "Quantum Project": thefilm must be shown on computers, not in theatres. Yesterday the movie had its worldwide premiere on Sight Sound.com, making it the first extended Internet movie with an established crew and cast. AP
      AP  -  48 words
    • Article
      Lock icon Telstra Net asset sale, merger of 2 units scuttled
      502 8 MELBOURNE Falling share prices sink Sausage, Solution 6 merger Bloomberg TELSTRA Corp's expansion into fast growth businesses has stalled as it ruled out a share sale of its Internet assets and an Asl.3 billion (551.32 billion) merger of two key investments
      Bloomberg  -  502 words
    • Article
      Lock icon Cisco to pay US$5.7b for Net switch maker
      446 8 SAN JOSE, California AFX-Asia Bloomberg Reuters, CISCO Systems Inc, the world's largest maker of computer networking equipment, yesterday said it would buy Internet switch maker Arrow Point Communications Inc for about US$5.7 billion (559.7 billion) in stock. Cisco, the No. 1 maker
      AFX-Asia; Bloomberg; Reuters,  -  446 words
    • Article
      Lock icon Five-year ban on Internet tax clears key US House panel
      470 8 WASHINGTON Measure conld cost state, local jurisdictions USsBb annually LAT-WP ACTING with unusual speed and almost no debate, a key House committee on Thursday unexpectedly approved a five-year extension of the moratorium on new taxes that target the Internet. The
      LAT-WP  -  470 words
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  • REGIONAL news
    • Article
      Lock icon HK spells out rules for Net bank approvals
      434 9  -  Ownership and management quality will be key criteria FYon Quak Hiang Whai in Hongkong THE Hongkong Monetary Authority yesterday issued its first set of guidelines which set out the principles it would apply in approving virtual banks in the territory. Defining virtual
      434 words
    • Article, Illustration
      Lock icon Asean + Three in currency-swap move
      762 9  - Asean Three in currency-swap move From Anthony Rowley in Chiany Mai FINANCE ministers from the 10 Asean countries, along with their counterparts from Japan, China and South Korea, are expected to approve today a series of currency-swap arrangements that could lay the groundwork for a revival of an Asian Monetary
      REUTERS  -  762 words
    • MARKET moves
      • Article
        Lock icon Banks up on hopes of higher lending
        51 9 BANKS rose as investors bet the country's decade-low interest rates will spur lending, boosting their earnings. Malayan Banking Berhad, the biggest lender, rose 60 sen, or 3.8 per cent to RM16.60. AMMB Holdings, the fifth largest banking group, climbed 60 sen to RM
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      • Article
        Lock icon MAS share prices take flight
        65 9 MALAYSIAN Airline System Bhd rose 16 sen, or 4.8 per cent, to RM3.50, on speculation its parent Naluri Bhd is close to selling part of its controlling stake in the country's dominant airline to help repay debt. MAS executives declined to comment. The plan was
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      • Article
        Lock icon TRI up on talk of imminent deal
        61 9 Compiled by Bloomberg TECHNOLOGY Resources Industries Bhd rose 45 sen, or 8.8 per cent, to RM5.55 on speculation the largest cellular phone operator is close to gaining creditors approval to resolve its overdue eurobonds. The stock was the most active, with 14 million
        Compiled by Bloomberg  -  61 words
    • Article
      Lock icon K Guthrie sees no shift from core sectors
      478 9 KUALA LUMPUR Group will spend RM2.4m to develop Net applications Reuters THE chief executive of Kumpulan Guthrie Bhd, one of Malaysia's oldest plantation houses, said yesterday the firm would continue to rely on core palm oil and property businesses, although it was
      Reuters  -  478 words
    • Article
      Lock icon Time asks Sapura to make new offer for Time dotCom
      608 9 KUALA LUMPUR Sapnra's proposal 'most be comparable' to Sing Tel plan Bloomberg, Reuters TIME Engineering Bhd, which manages Malaysia's largest fibre optics network, asked the Sapura group, one of its biggest creditors, to make a new, improved offer for its
      Bloomberg,; Reuters  -  608 words
    • Article
      Lock icon Ibra prefers to sell Indon properties "by the baskets"
      362 9  -  Bat investors are interested in baying individual properties ih Marissa Chew [SINGAPORE] With the current bank restructuring in Indonesia, prime properties are being thrown up for sale, and investors from the region are leading the list of prospective buyers. Among the
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    • Article
      Lock icon Written proof to drop Bank Bali suit needed
      222 9 SINGAPORE Reuters FORMER Bank Bali chief Rudi Ramli must give written commitment to drop all legal action against the government by the end of May to facilitate its recapitalisation, Indonesian Bank Restructuring Agency (Ibra) chief Cacuk Sudarijanto said yesterday. He said Mr
      Reuters  -  222 words
    • Article
      Lock icon Bulog stuck with rice it was forced to buy
      249 9 CIREBON, Indonesia Reuters INDONESIAN state commodities regulator Bulog is struggling to offload a growing stockpile of rice that the government has forced it to buy from farmers. Under pressure to lift prices hit by cheap imports, the government ordered the agency
      Reuters  -  249 words
    • Article, Illustration
      Lock icon Corruption strains Three Gorges Dam project
      625 10 BEIJING Dam construction firm head absconded with over USsl2om, saysSCMP LAT THE world's largest public works effort, China's Three Gorges Dam, has been hit by a fresh wave of corruption charges that further call into question the wisdom of the controversial project. Over the
      LAT; FILE PHOTO  -  625 words
    • Article
      Lock icon India in move to protect investor funds
      98 10 BOMBAY AFX-Asia The Securities and Exchange Board of India (SEBI) is seeking authority to seize the assets of companies misusing funds and award compensation to investors who have incurred losses due to such mismanagement, the Business Standard reported. The paper said SEBI has
      AFX-Asia  -  98 words
    • Article
      Lock icon Hutchison's pre-tax profit jumps 80%
      348 10 HONGKONG Telecoms leads the gains, rising eight-fold: analysts Bloomberg HUTCHISON Whampoa Ltd, Hongkong's largest conglomerate. told a group of analysts that pre-tax earnings rose about 80 per cent in the three months ended March 31, surpassing expectations. Excluding a one-time gain from the sale of
      Bloomberg  -  348 words
    • Article, Illustration
      Lock icon More Democrats support China deal
      512 10 WASHINGTON Bloomberg SIX more House Democrats pledged to back the Clinton administration's drive to grant China permanent access to the US market, bringing supporters a step closer to nailing down the crucial trade agreement. "These are members in marginal districts. and that means it's a
      Bloomberg; REUTERS  -  512 words
    • Article
      Lock icon Pakistan to start bank privatisation
      305 10 BANGKOK Sale of stake in Pakistan Telecom by end of year Reuters PAKISTAN'S finance minister Shaukat Aziz said yesterday the government plans to start the privatisation of the National Bank of Pakistan and to sell off more of its stake in Sui Southern Gas Company
      Reuters  -  305 words
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      105 10 Nominations for the 2000 Enterprise 50 awards are now open Companies can nominate themselves by iW|Hiiii|ii» completing the official nomination form. Companies must be home-grown, privately-owned and incorporated under Singapore's Companies Act (1994 Revised Edition), with four years of r 7 Celebrating Singapore s audited statements. Enterprising Spirit V J
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  • WORLD news
    • Article
      Lock icon Amex ponders European fund deals
      442 11 LONDON US giant looking at buying money managers and also molls marketing tie-np with German bank to expand European business Bloomberg AMERICAN Express Co (Amex), better known for charge cards than mutual funds, said on Thursday that it's considering buying money managers to expand its
      Bloomberg  -  442 words
    • Article
      Lock icon BMW pessimistic on Rover sale talks
      324 11 MUNICH It will decide by end of this month to close down or sell Rover Bloomberg BAYERISCHE Motoren Werke AG (BMW) said it is "pessimistic" about the outcome of talks on the sale of its unprofitable Rover Cars unit to the Phoenix Consortium, since
      Bloomberg  -  324 words
    • Article
      Lock icon AT&T share price sinks to 20-month low
      403 11 NEW YORK Reuters AT&T Corps stock hit its lowest price in 20 months on Thursday, raising a host of previously unthinkable possibilities such as a takeover or the spin-off of its consumer long-distance operations, analysts and investors said. The 23 per cent drop
      Reuters  -  403 words
    • Article, Illustration
      Lock icon London's first mayoral poll deals blow to Blair
      414 11 LONDON Labour Party also suffers major setback in local elections, losing ground to Conservatives Reuters BR 11 ISH Prime Minister Tony Blair was battered yesterday by the victory of renegade leftwinger Ken Livingstone as London's first elected mayor, as well as major
      Reuters; REUTERS  -  414 words
    • Article
      Lock icon US brokers flouting securities rules: SEC report
      665 11 NEW YORK Investors not getting best possible prices on their trades NYT BROKERAGE firms in the United States, charged with executing investors' buy and sell orders fairly, are flouting securities rules intended to ensure that investors receive the best possible prices on their
      NYT  -  665 words
    • Article
      Lock icon Soros calls for official intervention to shore up euro
      532 13 EURQ'SKffOII LONDON Billionaire also warns of lofty levels of equity markets and describes their volatility as a symptom of excess Reuters LEGENDARY financier George Soros has called on authorities to defend the euro by intervening on foreign exchange markets, warning it
      Reuters  -  532 words
    • Article
      Lock icon ECB to do all it can to keep euro stable, says Duisenberg
      384 13 FRANKFURT Bloomberg EUROPEAN Central Bank (ECB) president Wim Duisenberg promised the 11-nation central bank "will do all it can" to keep the euro stable, after the European Union's (EU) single currency fell again to a record low. In
      Bloomberg  -  384 words
    • Article
      Lock icon Fed officials unsure of Fed's next move: report
      617 13 WASHINGTON Greenspan, who has stayed mum, will be key vote on rate hike Reuters FEDERAL Reserve officials are unsure whether the board will vote to raise their interest rate target by 25 or 50 ba sis points when they next meet on
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      Lock icon Unilever chief collects brands like he does art
      598 13 PEOPLE Bat in a case of life imitating art, he's facing opposition for his latest acquisition NYT Reuters IN his personal life, Niall FitzGerald, head of Unilever, the world's leading producer of consumer goods, is a collector of art. In business, he
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    • WORLD Watch
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        Lock icon Strike forces Air France to cancel flights
        85 13 Bloomberg [PARIS] Air France SA said it has cancelled half of its flights from Paris two main airports after cabin crew walked off the job in a two-day strike over how to carry out France's 35-hour work week rule. The French carrier, which
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      • Article
        Lock icon BAA in talks to manage 2 NY airports
        98 13 AFP [LONDON] BAA, the operator of the main commercial airports in Britain, is in exclusive talks to take over the management of New York's airports, the British company and the mayor of New York Rudolph Giuliani said in joint statements yesterday. If
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      • Article
        Lock icon JC Penny head resigns
        50 13 Bloomberg [PLANO, Texas] J C Penney Co chairman and chief executive James Oesterreicher will resign, following two years during which sales and earnings slumped and its stock market value dropped by US$l5 billion (Ss26 billion). The 58-year-old executive will remain until a successor is found. Bloomberg
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      • Article
        Lock icon Westpac 1st-half earnings soar 17%
        91 13 Bloomberg [SYDNEY] Westpac Banking Corp, Australia's third-biggest lender, said first-half earnings rose a higher-than-expected 17 per cent as it lent more to home buyers and sold more insurance policies. Earnings for the six months to March 31 rose to a record AsBlB million (SsB32 million),
        Bloomberg  -  91 words
    • Article, Illustration
      Lock icon Foot fetish
      60 13 [TOKYO] Japanese boys playing soccer on a beach near central Tokyo. Recent surveys of Japan's youth revealed that soccer has overtaken long-time favourite baseball as the most popular sport for the nation s school children. Soccer was expected to gain even more in the sports popularity rankings as
      REUTERS  -  60 words
    • Article
      Lock icon UK-German bourse faces challenge over iX name
      325 13 FRANKFURT German magazine publisher claims it has rights since 1988 Bloomberg DEUTSCHE Boerse AG and the London Stock Exchange, which plan to combine and create "iX", Europe's biggest bourse, are facing a challenge from a German magazine publisher claiming it owns the rights
      Bloomberg  -  325 words
    • Article
      Lock icon Time not ripe for new round of trade talks, says WTO chief
      284 13 BUDAPEST Reuters WORLD Trade Organization (WTO) chief Mike Moore said yesterday he was ready to open a new round of global trade negotiations immediately, but it was not likely to happen. "I don't believe we are ripe at
      Reuters  -  284 words
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      2610 12 INOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298 NOTICE IS HEREBY GIVEN that I, LOW SIEW LENG of 2(X) Pasir Panjang Road *05-03 Singapore *****1, have applied for a Wholesale Liquor Licence in respect of M/s ICM Pte Ltd located at 1 Maritime Square *09-12 World Trade
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  • FINANCE & commodities
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      Lock icon May futures see support at 280.5 points
      192 14  -  SGX Derivatives TnA&a&Reports MSd Singapore Index Edward Cheung Jardine Fleming THE Singapore stock market finished a touch lower in dull trading yesterday. Investors stayed out of the market ahead of last night's US nonfarm payrolls data to ascertain clues on US interest rates.
      192 words
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      Lock icon Futures gain 13 pts, in line with rise in cash
      306 14  -  BflSd Taiwan fatores Chan Yet San Refco Singapore THE Taiwan stock market closed with big gains yesterday following the government's pledge to help support the stock market. The fact that Nasdaq managed to end positive overnight helped as well. The
      306 words
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      Lock icon Oil firm on possible US shortage
      258 14 ENERGY REPORT Reuters [LONDON] World oil prices remained on a firm footing yesterday, still supported by buoyant US gasoline prices and disruptions to crude exports from Norway where unions plan to widen a nationwide pay strike. North Sea benchmark Brent Blend crude futures for
      Reuters  -  258 words
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      Lock icon CURRENCY REPORT
      339 14 Reuters London THE euro rose a cent on the day against the US dollar and rebounded from its earlier record lows against the yen yesterday amid market nervousness of central bank activity to support the single currency. Jitters about central bank action were fuelled by European Central Bank
      Reuters  -  339 words
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      Lock icon Untitled
      1314 14 DITERBAME CROSS RATES (l!h t A$ C$ BnU) Euro Ffr Dm HK$ Ind Bs Rupiah Yen Won BM WZ$ Pak Bs Peso Rtnd Sfr NT$ Baht Pound US$ Australia 0.886 4.919 0.663 4.349 1.297 4.615 25.860 47.267 0.637 6.583 2.252 1.208 30.706 24.494 1.019 4.140 1.028 18.157 22 7% 0
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      1857 14 S1C0M FUTURES Man ■> RUBBER (futures closing as at 5.30pm) RSS1 CONTRACT (S centsAq) ClOSt VoluflW Open Month High Low Sett (tonnes) Interest Jun 00 120.50 300 Jul 00 122.50 300 Aug 00 124.50 300 Sep 00 126.50 300 RSS 3 CONTRACT (US cents/kq) Volume Open Month High Low Sett
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  • STOCKS east asia
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      Lock icon HK investors stay on sidelines ahead of US data
      2899 15 HONGKONG AFP CI Hang Seng -45.43 HONGKONG share prices eased down 0.3 per cent yesterday with investors sidelined ahead of key US economic data, dealers said. "Trading is quiet and investors are sidelined" ahead of US unemployment data due to be
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      Lock icon TAIPEI
      362 15 AFP qWP Index +273J5 THE Taiwan Stock Exchange Weighted Price Index jumped 3.24 per cent or 273.15 points to 8,698.53, on turnover of NT5111.42 billion. Advancers overwhelmed decliners 493 to 57, with 42 issues unchanged. Share prices soared across the board, with technology counters taking the lead. Acer Inc
      AFP  -  362 words
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      79 15 sQnO n H cilL A. I I I I »rfl L Jm I■lr 4 I H II r» H I x J.y-£i~ TheßusinessTimes INTELLIGENCE CHANGES hhvthiiic The Tokyo, Shanghai and Shenzhen markets were closed yesterday. p SELL* M FIND-/ 4 Classified ads can get you stereo equipment for a song.
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  • STOCKS klse
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      Lock icon KLCI up as local, foreign funds buy in
      418 16 AFP Q Composite Index +18.78 MALAYSIAN shares closed 2.1 percent higher yesterday buoyed by local and foreign institutional support, dealers said. The Kuala Lumpur Stock Exchange Composite Index rose 18.78 points to finish at 925.45. The Second Board Index gained 5.81 points
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    • Article
      Lock icon Untitled
      9042 16 INDUSTRIALS Conswmr products 2000 List Vol Day Net Cap Low Company Sale OOO High Low P/t Smtl 112 3 S nomo, 366 16 2 366 366 20 0 148 3 J52 9; Angkasa 96.5 unch 23 98 96 142.3 ,J> 7 290 *5® l ?X. oodM,q 560 5 2 6
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  • SGX clob & regional stocks
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      Lock icon Untitled
      3508 17 BONDS A WARRANTS m Vrats fraa/ ['CO U-«Mt last Val Day UsIOmU »t nut* Cm Cur Om MtlM N# las Mm tiiii) Ml *er- COM) N* las layer Mar Ma Mb flkl M|2 UN 80 17 s 3164 Acma ******4 32 -4.5 586 36 32 32 32.5 32 41.0 1
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      Lock icon MANILA
      273 17 AFP Q Composite Index -L 44 THE Philipppine Stock Exchange Composite Index closed down 1.44 points at 1,551.90 with losses trimmed by bargain hunting. Turnover fell to 3.25 billion shares worth 914.47 million pesos from 3.65 billion shares worth 9.2 billion pesos. -AFP K»y5 Ptse COOO) MRC Allied 0.43
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      Lock icon WELLINGTON
      280 17 AFP QNZSE-40 +2620 THE NZSE-40 Capital Index closed up 1.3 per cent or 26.20 points at 2,047.51 on turnover of NZ$92 million. The share market experienced better volume than earlier in the week, although it was still reasonably quiet, John Cobb of J B Were said. Hay 5 1000)
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      Lock icon SYDNEY
      584 17 AFP fl All Ordinaries -*49.7 THE All Ordinaries Index closed 1.6 per cent or 49.7 points up at 3,075.6. The new-ly-introduced ASX2OO Index closed up 53.4 points at 3,107.2. Volume was 434.6 million shares worth A 51.14 billion. There were 811 gainers against 607 falls, while 439 stocks remained
      AFP  -  584 words
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      Lock icon JAKARTA
      755 17 AFP Q Composite Index +6.64 INDONESIAN share prices closed 1.2 per cent higher on bargain-hunting yesterday amid speculation the government will support the market ahead of the FT Bank Central Asia (BCA) public offering, dealers said. The Jakarta Stock Exchange Composite Index closed up 6.64 points at 545.61 on
      AFP  -  755 words
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      42 17 Someone keen on expanding horizons. Someone who will relish the responsibilities. Get the edge in hiring the right one. Call 1800 74 1 1883 Wa« art... pj^ssiip or fart, caifi.' Convert your spare items to fast cash. Call C.A.T.S. at 1800-737-1166. fastads
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      8 17 The Bangkok and Seoul markets were closed yesterday.
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  • Article
    Lock icon STOCKS sgx
    9825 18 SGX MAINBOARD Transaction date: May 5 Cr Cr M Wt 52-Wk Last Vol Day List Ouote Div CHy VM Net Cap Avg HMl Lm StNo Company Sal* COOP) High Low Buyer Seller C'vr P/t $mll Price MULTHNOUSTRY 182 95 mc IOOO AcmaSOc 140 cd -6 470 146 139
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      394 19 mi.jnitivr# +*<wmr »v-w; r murmf"- a Where to wine, dine and oni^l "Tunch" is the best for lunch and high tea rolled into one. Which means longer serving hours and even more scrumptious spreads. "Tunch" from 12 noon 4.30pm #15.80 (Adult) $11.80 (Child) "Tunch Karaoke" from 12 noon Bpm #21.80*
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      54 19 I Pj Fresh oysters, delectable lobsters, savoury honey-glazed y ham. U S Prime Rib of R- *"J fy" Beef and many more mouth watcr,ng t s ic> to cavc u JOINING a tbest Lunch: 12 noon 2.30pm Dinner: 6.30pm 10.00pm Reservations: 831-6271/88 i —I— 1 HlOnh.ird R«vwl *****/ let 717
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  • Page 19 Miscellaneous
    • Miscellaneous
      Lock icon Page 19 Miscellaneous Column 1
      1319 19 The Business Times, Saturday, May 6, 2000 p 1C cryptic crossword I'l Central ®"2® Candid Camera. 5.30 Aksi Mat Yoyo. 11.00 The World Tonight. HI IT~I TTI TT"! TT~I IT r? —I m Hnnn am r ontM i. 900 Suddenly Susan: A Day 6.00 Keluang Man. 11.30 13 Wonders. I
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  • The Arts
    • Article
      Lock icon Installation for art's sake
      885 20  -  parvathi nayar tries to get a handle on installation art and meets up with SAM curator Lindy Poh to discuss the difficulties such artists face PARVATHI NAYAR IT'S not just newspaper reports of ham wrapped around pillars in Brussels or sheep cut open and displayed in
      885 words
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      Lock icon Three dimensional artists
      2307 21  -  Intallation artists, currently showing their works in town, talk to parvathi natar challenges they face in their chosen field PARVATHI NAYAR SAN JOT KAUR SEKHON NOT all installations are site-specific, but the idea of art deriving from a particular space is crucial to Sanjot Kaur Sekhon, an
      CHRIS LOH  -  2,307 words
    • Article, Illustration
      Lock icon THE PROGRAMME
      1598 22  -  Compiled by M Yasotha MUSIC Singapore Symphony Orchestra French Flair Maestro Bart Folse leads the SSO in the best of French fare, a selection from the great operas and orchestral favourites George Bizet's Carmen has the most memorable melodies, while Camille Saint-Saens' Samson and Delilah dabbles with Middle
      1,598 words
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      Lock icon SPOTLIGHT
      268 22  -  By Aaron Lye Tte Buzz: 3Some, a trio of plays that are part of the official opening of The Necessary Stage's new home in Marine Parade. Plot and Player*: Expect the in-your-face style typical of The Necessary Stage (TOS). The first, Talk, by Alvin Tan and Haresh Sharma and
      268 words
    • Article, Illustration
      Lock icon Opera gets the royal treatment
      626 23  -  Lyric Theatre's The Student Prince was a feast for the eyes and a treat for music lovers. Felicia tap gives her verdict on the musical fairytale romp FELICIA YAP IF one went to the Kallang Theatre expecting to be charmed, The Student Prince did not
      626 words
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      Lock icon Lessons learnt on centre stage
      861 23  -  LaS&lle students get hands-on experience in dramatics in The Next Season By Aaron Lye SAY what you will about local drama, it certainly has achieved some progress in recent years, something perhaps partly due to the efforts of the School of Drama at the LaSalle-SIA
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      Lock icon SAM goes Off The Wall
      405 23  -  By Felicia Yap MUSEUMS seem to have a rather forbidding image, commonly seen as a hangout for historians instead of a hip young crowd. But the Singapore Art Museum (SAM) appears to be breaking away from this stereotype with Off The Wall a range of
      405 words
    • Article
      Lock icon The computer as an artist's medium
      797 23  -  lin Aaron Lye LIKE every other aspect of human civilisation, art has evolved throughout the years, changing with the times, taking shape as humanity itself grows and learns. Art itself is as ancient as human existence. Long before lan guage was developed, art was
      797 words
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      Lock icon This Thomas is no doubter
      1083 24  -  Publisher-artist Thomas Yeo put his faith in budding artists despite setbacks and now has a glossy book to show for his efforts, writes fexjcxa yap FELICIA YAP Thomas Yeo is certainly pleased as punch over his newest brainchild. He picks up his book and begins
      PHOTOS BY SIEW YAW HOONG  -  1,083 words
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      Lock icon Indonesia in living colour
      837 24  -  Despite the vibrancy, Nasiran and Pupnk render the colours differently By Parvathi Nayar AT first glance you could be forgiven for thinking the walls of Gajah Gallery are hung with the works of one artist, for the immediate impression is of strong colours, incised lines and
      837 words
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      72 22 mortgage o o 81 M With PruMortgage ul 1 Unemployment Cover, your 9 > HF disappear if your job does. introducing PruMortgage, Singapore's first mortgage plan with Unemployment Cover For more information. Prudential agent 1 *****1 niuuM-im— Prudential Assurance Company Singapore (Pte) Limited, 30 Cecil Street 130-01 Singapore 049 7
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