The Business Times, 3 February 2001

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Total Pages: 26
1 26 The Business Times
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  • Title Section
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    14 1 THE BUSINESS TIMES MITA (P) 028/12/2000 SINGAPORE Internet: http://business-times.asial .com.sg/ SATURDAY, FEBRUARY 3, 2001
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  • Article
    Lock icon MARKET SUMMARY
    73 1 □m M9MK-5.78) BT-SBI 817.43 (+0.73) ST INDEX FUTUIES M 74 (+1.00) nmmm futubes M ***** (-0.90) STOCK MABBET INDICES Friday Change KLSECOMP 7J6J4 _+&Sl NIKKEI 226 13,703.63 -7IJJ HANOSENO 16,071J9 -9170 SET INDEX 334. W +164 JAKARTA COMP _J§1J8 +21.40 MANILA OOMP _1,689J8 +0.46 TAIPEI WPI 6,049.28 +151.33
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  • Article
    Lock icon FINANCE
    75 1 FOBEX BATES us$ s$ US$ (S$ per US$) 1.717 £(US$/S$per£) L482 1674 Et'RO(US$/S$/E) 9J41 t.6» DM 1878 1.187 YEN 115J 66,10 RM 3.800 2.188 HKS 7.799 4.490 BAHT 4121 24 JO RUPIAH 5,491 PRIME BATES SINGAPORE* 5.80 KUALA LUMPUR 7.67 JAKARTA .89.0© BANGKOK ..8J0 MANILA 11.06 HONGKONG 8.66 TAIPEI
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  • Article
    Lock icon MAS delays award of 2 more QFB licences
    661 1  -  It says review is underway; talk in market that scheme may be modified By Angela Tan [SINGAPORE] The Monetary Authority of Singapore said yesterday it will delay the award of two more full banking licences to foreign banks until it finishes a
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  • Article
    Lock icon DBS to cut mortgage rates for ex-Credit POSB customers
    295 1  -  Rates apply only to those who took oat Credit POSB loans before DBS acquired POSBank By Angela Tan [SINGAPORE] Stung by complaints from irate borrowers, DBS Bank has decided to slash mortgage rates by a hefty one percentage point for former
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  • Article
    Lock icon SGX explains why it gave waiver to ei-Nets IPO
    389 1  -  Stock was in no danger of being cornered, it says Byi Andrea Tan [SINGAPORE) Tter Singapore Exchange (SGX) said last night it granted ei-Nets a waiver of the minimum 500shareholder rule because the company's stock was in no danger of being
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      96 1 INSIDE Top Stories Forex players expect smooth close-out of rupiah transactions. Next Page t s CPFIS backroom ops: 2 non-bank firms bid. Pg 3 Good prospects seen for biomedical sciences. Pg 8 Top two US execs step down from Terra Lycos. Pg 10 Eduardo HBHB Cojuangco BferSlW to chal- l#
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      27 1 Ex-ACS boy f —".frr r r j Young Turks i Soft landing or crash landing? Pg9 Pg9 59 of 173 DBS branches closed in streamlining, Next Page
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      76 1 Mall Btf Orderly trading conditions met, so SGX waives 500-rule, Pg 8 i i I A.H I I I n ill I .M v Jj&Jr fl Breguet. La passion laisse des traces. Wristwatch "Grande Complication" in 18-carat gold with tourbiiron. Hand-wound movement, engraved by hand Power-reserve indicator and 24-hour time
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      5 1 r r r r 4.2%
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  • NEXT page
    • Article, Illustration
      Lock icon 59 of 173 DBS branches closed in streamlining
      422 2  -  Slowdown in further cnt-b&cks probably because of customer complaints By Siow Li Sen [SINGAPORE] DBS Bank, which has been cutting back on its branches, has slowed down the streamlining of its network, probably in response to complaints from customers who have been
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    • Article, Illustration
      Lock icon Gus Dur digs heels in with no hint he will step down
      895 2  -  Formal censure letter to be sent next wedi%# Fromi Shoeb Kagda in Jakarta INDONESIAN President Abdurrahman Wahid yesterday maintained his hard-line stand against a possible impeachment by refusing to step down after the country's parliament formally censured him.
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    • Article
      Lock icon FX players expect smooth close-out of rupiah transactions
      562 2  -  By Larry Wee [SINGAPORE] Forex players in Singapore expect an orderly close-out of all offshore rupiah transactions maturing beyond Feb 7 the deadline set by Bank Indonesia (BI) for the settlement of rupiah transactions between offshore counterparties. Jeanette Wong, chairman of the
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    • ON THE grapevine
      • Article
        Lock icon Irrefutably George
        128 2 HERE is one, but by no means the last, of jokes about the new US president. Einstein dies and goes to heaven. Saint Peter says: "You look like Einstein, but can you prove it?" Einstein asks for a blackboard and chalk, and explains the theory of relativity to
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      • Article
        Lock icon Tidy returns
        78 2 GIC, the government investment company, is picking up a tidy sum in rent in Hongkong. News from there said GIC, which bought nine duplex from Sun Hung Kai Properties for HK$245 million last year, has rented out two units at HK$l4O,OOO each. This is 20 per cent higher
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      • Article
        Lock icon Fiery start to millennium?
        75 2 INDONESIA and the Philippines have had their share of volcanic eruptidns recently. The latest to be rocked are Japan and California, both of which reported tremors yesterday. While none of these have caused any real damage, the spread of natural disasters is disturbing. Beneath the Pacific
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      • Article
        Lock icon Tata Steel: Tiger on the prowl
        52 2 AS the gongfu movie Crouching Tiger, Hidden Dragon sweeps cinemas in the West, online content provider Asia Wise has leapt onto the bandwagon. In an article on whether the once slow-moving Tata Steel is finally rousing itself, the headline was: "From Crouching Elephant to
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  • SINGAPORE companies
    • Article, Illustration
      Lock icon CPFIS backroom ops: 2 non-bank firms bid
      440 3  -  Listed Str&tech Systems and private firm elnvestors are interested By] Ling Su Ann THE job of sole backroom operator for the CPF Investment Scheme (CPFIS) may not go to an agent bank, as two non-financial firms have submitted tenders. The CPF Board confirmed
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    • Article
      Lock icon SingTel takes 25% stake in Thai firm for 480m baht
      338 3 Target is the largest publisher of Yellow Pages in Thailand Bloomberg [BANGKOK] Singapore Telecommunications Ltd, Southeast Asia's biggest phone company, has bought a 25 per cent stake in Thailand's largest publisher of Yellow Pages for 480 million baht (5519.7 million).
      Bloomberg  -  338 words
    • Article
      Lock icon SNP Corp earnings slide 31% to $3.08m
      599 4  -  Company has set a target to grow five times in the next five years By Rachel Ong MAINBOARD-LISTED printing and publishing company SNP Corp's thrust into cyberspace saw its net profit sliding 31 per cent $3.08 million for the year ended Dec 31.
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    • Article
      Lock icon ING Barings sees SembLog as a 'sell'; NOL a 'buy'
      393 4 ING Barings has cut SembCorp Logistics Ltd's rating from a "hold" to "sell" on uncertainty over how it could generate synergies from its tie-up with Swiss logistics firm Kuehne Nagel International. The broking firm, however, maintained its "buy" call on
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    • Article, Illustration
      Lock icon Nomura downgrades STATS to 'neutral'
      205 4 NOMURA Securities has downgraded Singapore's ST Assembly Test Services (STATS) from "outperform" to "neutral", citing its stretched valuations and dim outlook in the first quarter. ING Barings had already downgraded the firm's shares on Thursday from "hold" to "ftilly valued". Nomura, in a Jan 31
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    • Article
      Lock icon SGX's deafening silence getting too loud for comfort
      615 4  -  Hnr.KIMJiMI.IMI ven sreenivasan DID news of OCBC Finance's impending delisting and handsome cash payout leak to the market long before this week's announcement? Looking at how the stock had risen in recent weeks, one could be forgiven for suspecting some unknown party
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    • Article
      Lock icon MediaRing and IPS join chorus of profit warnings
      348 4 Poor showing blamed on market conditions and global slowdown TWO more firms, MediaRing.com Ltd and International Press Soft Com (IPS), have joined the chorus erf local companies issuing profit warnings. Mediaßing warned yesterday of a loss of around $18 million for the
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    • Article
      Lock icon Twinwood gets option to up Microcon stake
      298 7  -  Sesdaq firm will fond the purchase with 70.75 m new shares By Andrea Tan TWINWOOD Engineering said yesterday it has call option agreements to acquire additional stakes in Indiabased Microcon Group for $11.1 million. This followed its earlier announcement that it would acquire
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    • Article, Illustration
      Lock icon Datacraft wins more multi-million contracts
      361 7 Details of Indon and China jobs will be annonnced soon DATACRAFT Asia, which has set up a quarter of Asia's data-networking systems, said it won new major contracts in Indonesia and China as regional phone and Internet companies strengthen their infrastructure and services. A contract
      FILE PHOTO  -  361 words
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      133 3 THE PROGNOSIS ON OUR HEALTHC^E^FU ND: -c* f o°/o vV?^° The indicators .show, strong and steady earnings. f)o you imagine a hudythat i\ baimr Ir.ee- of illnc,, ,ibie 'n la-> 1 beyond a lifetime 7 l-heso art' vrsior is thai i. on! nine !o ch iyeanediea! ,tnd heait heme rj<.*
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      87 4 BUY,* SELL* FIND,/ Classified ads can get you stereo Classified ads are pun.. .feet for equipment for a song. finding lost little fattens. Classified ads make vacation Classified 'ads put home-seekers hunting relaxing. on S °M B roun Classified ads can speed up Classified ads make just about your search
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      351 5 qTFfp I ~H~H~j~F~i r r— r—- —W .4 j f i-i i j ELECTRIC CITY and PERTAMA bring you more power than ever as j All Electric City and Pertama stores are now known as Harvey Norman. Harvey Norman is one of Australia's largest retailers and is now one of
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  • SINGAPORE markets
    • Article, Illustration
      Lock icon Small caps take over from blue chips as market leaders
      580 6  -  comment STOCKS r. sivanithy SESDAQ took over leadership of the local stock market yesterday as small caps surged while blue chips faltered when punters switched into segments showing the best momentum gains. Retail brokers reported a much higher number of
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    • Article, Illustration
      Lock icon Penny stock upswing adds to Multi-Chem wrt's lure
      173 6  -  WARRANT WATCH R Sivanithy WHAT a difference a week makes. Last Friday, penny stocks were languishing in poor liquidity and the only plays were on interest rate-sensitive counters. But five trading days later, the second board is the rage the UOB Sesdaq
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    • Article, Illustration
      Lock icon Marco Polo may see further upside
      242 6  -  HOT STOCK By y Ven Sreenivasan THE stock of property-based Marco Polo surged yesterday amid market expectation that the company is poised to return cash to shareholders. The stock jumped to a high of $2.04 before closing with a net 20-cent gain at $1.96.
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    • Article
      Lock icon Market Notices
      94 6 H-l J -1 A. ex-aiviaena (iirsi ana nnai dividend of 1.00 cent) on May 14. Last day for buy ing-in on a cum basis is May 17. Date ♦HIND Hotels International has appointed ffaia Cheow Peh, a senior vice-president non-executive director wtoST' 6IIOCt irom r 6D 1. &lI6CtIV6
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    • Article, Illustration
      Lock icon Greenback sags ahead of US employment data
      360 6  -  hi i comment CURRENCIES larry wee THE US dollar sagged under the weight of more weak US economic statistics on Thursday, and there was little buying interest ahead of the key January employment report due out in the US yesterday. As if to
      Source: Reuters  -  360 words
    • Article
      Lock icon Untitled
      344 6 Stocks Volume PacificCenturylOc 51,069,000 Asia Food&Prop 49,855,000 K1 Ventures 10c 39,508,000 KLW Hldgs 10c 28.534,000 PCI 25c 28,182,000 Hyflux5c 26,169,000 Lee KimTah 10c 24,643,000 MediaRinglOc 22,955,000 Hotung fnv NT5 19,481,000 AEM-Eveitech 5c 18.586,000 Stock* PacificCenturylOc 55,103,820 Chart Semiconductor 26c 42,180,977 UOB 42,162,374 DBSGrp 42,067,828 PCI 25c 39,929,290 OC8C 34,125,064 S5A
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      42 6 IN THE SUNDAY TIMESTOIWRR^W illg -W ""•JBI JV E M W S ViJ*'' -<T HH H 3911 H JjF JBF Hh| Ey*s —w sflpu l^i SohESk^M fefl Kiel v A 3HK9Bffl| -HsiFf "-*>"• M.II rj 1 1 ■Ir<l j j 1 lj i
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  • SINGAPORE news
    • Article, Illustration
      Lock icon Good prospects seen for biomedical sciences
      496 8  -  Positive growth expected despite feared slowdown this year in US, the industry's biggest market Byi Chuang Peck Ming DARK clouds may have appeared on the economic horizon, but the sky still looks blue for Singapore's biomedical sciences industry. If not for the prospect of
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    • Article
      Lock icon FTA: Japan driven by potential red-tape cuts
      336 8  -  Simpler rules, not greater trade, the big incentive, says Japanese team chief By< Chuang Peck Ming THE scope for cutting red-tape and further cooperation rather than the prospect of greater trade and investment flows is the main impetus behind Japan's pursuit of a
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    • Article
      Lock icon Chair launched at NUS in honour of Lim Chong Yah
      264 8 SINGAPORE'S leading economist and academic, Emeritus Professor Lim Chong Yah, was honoured yesterday with a professorship launched in his name by President SR Nathan. Called the "Lim Chong Yah Professorship in Arts and Social Sciences", it aims to engage eminent
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    • Article, Illustration
      Lock icon BBA bullish on tie-up with JLL
      349 8  -  It now sees sales at least doubling within five years from earlier forecast By\ Siew Yaw Hoong BROADBANDACCESS Pte Ltd (BBA), a homegrown broadband service provider, said its revenue will increase by at least two times after inking a deal with real estate services
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    • Article
      Lock icon Orderly trading conditions met, so SGX waives 500-rule
      317 8  -  MAIL PETTI Raymond Chow Vice-President and Head Corporate Communications Singapore Exchange Limited I REFER to the Hock Lock Siew column "Why ei-Nets IPO was not canned is a mystery" (BT, Jan 27) and other letters in response to the article. Contrary to
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    • Article
      Lock icon Minorities'only recourse: divest
      281 8  -  Singapore via Internet I REFER to the report "HK paradox: Losses behind the gloss" (BT, Jan 29). David Webb, the Hongkongbased shareholder activist, says quite unequivocally that "techniques, which often rely on shifting assets among related companies and subsidiaries, are popular across Asia". Philip Tulk, vice-president of
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    • Article, Illustration
      Lock icon Hersing executive director quits property agency
      309 8  -  Three senior ERA Realty staffers have also left firm By Andrea Tan PNG Bee Beng, executive director of listed Hersing Corp and the man instrumental in building up ERA Realty, is quitting the property agency. ERA Realty, part of Hersing Corp, is one of
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    • Article, Illustration
      Lock icon Business-related visits surge 12.5%
      338 8  -  =*4 a on the economy arrivals By Marissa Chew SINGAPORE drew more big-spending business visitors last year, the Singapore Tourism Board said yesterday. Business-related arrivals, including visitors here on business, business and pleasure and those attending meetings, incentive trips, conventions and exhibitions, last year rose 12.5
      Source: STB  -  338 words
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      67 8 We welcome letters. E-mail us at btletterQ sph.com.sg or fax us at *****71, or write to: The Business Times, Times House, 390 Kim Seng Road, Singapore*****s. We need your full name, address and telephone number, so we can verify it came from you. Please use temperate language, and bear in
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  • FOCUS indonesia
    • Article
      Lock icon Young Turks who turned the tide
      688 9  -  Among them is S'pore- and UK-educated Alvin Lie, who is forging ties across party lines By' Yang Razali Kassim If the wily and combative President Abdurrahman Wahid is facing his Waterloo, he can blame a group of maverick MPs who has done what their
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    • Article, Illustration
      Lock icon Gus Dur: Soft landing or crash landing?
      1921 9  -  "We ail crash together" is a frightening scenario that he is not ruling out By Yang Razali Kassim The writer is BT's regional. WHEN "Bruneigate" broke out last year, President Abdurrahman Wahid (Gus Dur) despatched his foreign minister Alwi Shihab to Bandar Seri
      AFP  -  1,921 words
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  • e-NEWS
    • Article
      Lock icon China's Etang.com to cut 26% of its workforce
      292 10 SHANGHAI Reuters ETANG.com Co Ltd, one of China's top Internet content providers, plans to cut 26 per cent of its workforce as part of a restructuring and shift in business focus, a company official said yesterday. Etang, which hopes to list on
      Reuters  -  292 words
    • Article
      Lock icon Top two US execs step down from Terra Lycos
      585 10 NEW YORK CEO Davis defers to chairman Agut; CFO Ted Philip takes on diminished role Reuters THE top two US executives of Terra Lycos SA stepped down on Thursday, leaving control of one of the world's largest Internet media companies in
      Reuters  -  585 words
    • Article, Illustration
      Lock icon CyberWorks to lay off staff at London office
      264 10 HONGKONG Bloomberg PACIFIC Century CyberWorks Ltd, Richard Li's Internet services and phone company, said it plans to fire staff at the London office it opened less than a year ago because of lagging demand for broadband services outside Asia. CyberWorks didn't say
      Bloomberg  -  264 words
    • Article
      Lock icon National Semi warns of lower Q3 profits
      431 10 SAN FRANCISCO It's latest major chip company to scale down forecast Reuters NATIONAL Semiconductor Corp became the latest major chip company to warn that quarterly results will lag forecasts as customers cut back on capital spending and work off excess inventories. The diversified
      Reuters  -  431 words
    • Article
      Lock icon Warning on new 'Hey you' virus
      303 10 Cempnter bogka* kit mens of AOL's Internet service Reuters [NEW YORK] A P ASS WORD-stealing virus that says "Hey you" instead of'l love you" has hit users of AOL's Internet service, a software security firm said on Thursday. Software security firm McAfee.com Corp said
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    • Article
      Lock icon MGM to buy 20% of Rainbow Media for US$825 million
      399 10 LOS ANGELES Deal described as a 'perfect fit' Reuters AFTER nearly two years of shopping for a cable television deal, film studio Metro-Gold-wyn-Mayer Inc on Thursday agreed to buy 20 per cent of Cablevision Systems Corp's Rainbow Media for US$B25
      Reuters  -  399 words
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      25 10 Locate its owner through Classification 821 (Found). Simply call C JLT.S. at 1800-737-1166 for this free service. CATS. Another Classified Service INTELLIGENCE CHANGES EVERYTHING. BUSINESSTIMES
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  • REGIONAL news
    • Article, Illustration
      Lock icon San Miguel: Cojuanco to challenge govt
      436 11  -  Tycoon says he won't hand over his voting rights in brewer From k Al Labita in Manila TYCOON Eduardo Cojuangco yesterday said he would challenge the move by President Gloria Arroyo's government to deprive him of his voting rights relating to a 47 per
      AFP  -  436 words
    • Article
      Lock icon Malaysian vehicle sales up 19% in 2000, may slow in 2001
      235 11 KUALALUMPUR Bloomberg MALAYSIAN vehicle sales rose 19 per cent in 2000 as the country's economic rebound and low interest rates prompted consumers to buy more cars. Sales of cars, trucks and buses fell 2.8 per cent to 27,787 units
      Bloomberg  -  235 words
    • Article, Illustration
      Lock icon The Constitution: People Power 2 or mob rule?
      1125 11  -  WRITER'S JOURNAL It's dangerous to see a demonstration as equivalent to an election karim raslan ONJan2o,two presidents were sworn into office, one in Washington DC and the other in Manila. Superficially, the two leaders— George W Bush and Gloria Macapagal Arroyo—appeared to
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    • Article
      Lock icon M'sian graft buster probes irregularities at govt agency
      331 11  -  KUALALUMPUR Senior officials questioned over unauthorised USssb bond issne: report From, Eddie Toh in Kuala Lumpur SOME senior executives of Perbadanan Usahawan Nasional Berhad (PUNB) —a high-level government agency in charge of promoting Malay entrepreneurship have come under the scrutiny of the
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    • Article
      Lock icon KLTM starts quoting prices in US$
      539 11 KUALA LUMPUR Reuters THE Kuala Lumpur Tin Market (KLTM) started quoting prices in US dollars yesterday in an effort to attract foreign interest in Asia's only tin market. Dealers said the shift to the dollar from Malaysian ringgit was well accepted by players and
      Reuters  -  539 words
    • Article, Illustration
      Lock icon HK banks see tougher year after good 2000
      666 14 HONGKONG Lower bad loan provisions offset weak credit demand; competition intensifying, economy slowing HONGKONG banks will report that profit rose in 2000 as lower bad loan provisions offset weak demand for credit. This year is set to be tougher as competition intensifies
      FILE PHOTO  -  666 words
    • NOTE Book
      • Article
        Lock icon Swire may sell bonds to pay HK govt
        135 14 Bloomberg [HONGKONG] Swire Pacific Ltd, which invests in aviation, real estate and shipping, said it may sell bonds later this year after it learns the size of a one-off payment it will have to make to the government. The company tost an
        Bloomberg  -  135 words
      • Article
        Lock icon December Philippine exports up 18.8%
        124 14 Bloomberg [MANILA] Philippine exports rose in December at their fastest pace in six months as electronics makers weathered a slowdown in US demand that hurt sales in other Asian countries. Exports rose 18.8 per cent from a year ago to U553.49 billion (Ss6 billion) after
        Bloomberg  -  124 words
      • Article
        Lock icon Sabrin trial to continue, rules judge
        122 14 AFP [JAKARTA] A Jakarta court has ruled that the corruption trial of central bank governor Syahril Sabirin be continued, dismissing defence charges that the case was flawed and politically-motivated, reports said yesterday. "The elements in the prosecutors' indictments.. ihlfill judicial requirements. That's why the
        AFP  -  122 words
    • Article
      Lock icon Court orders Indian brokers to pay levy
      501 14 mBOMBAY Watchdog agency Sebi can collect turnover-based fee Reuters INDIA'S Supreme Court has ruled that the Securities and Exchange Board of India (Sebi) can levy a turnover-based registration-fee on stock brokers, a Sebi source told Reuters on Thursday. The fee set at 0.01
      Reuters  -  501 words
    • Article
      Lock icon Hutchison seeks to raise US$1.5b from bonds
      338 14 HONGKONG Fluids to be used to repay debt maturing this year Bloomberg HUTCHISON Whampoa Ltd, which invests in everything from ports to telecommunications, said it's seeking to raise US$l.5 billion (552.6 billion) selling bonds to repay debt maturing this year. The company will
      Bloomberg  -  338 words
    • Article
      Lock icon HK's ICAC nabs 64 over mortgage fraud
      225 14 HONGKONG Reuters HONGKONG'S anti-graft agency said it had arrested 64 people after a probe into an operation which cheated banks into issuing millions of dollars in mortgage loans without sufficient collateral. The Independent Commission Against Corruption (ICAC) said late on Tuesday the banks
      Reuters  -  225 words
    • Article
      Lock icon Nasdaq opens India office on Feb 12
      178 14 NEW DELHI Reuters THE tech-heavy US Nasdaq stock exchange will open an office in the Indian technology capital Bangalore on Feb 12, its vice-chairman Alfred R Berkeley told Reuters on Thursday. "I am in the business of looking for growth companies for the
      Reuters  -  178 words
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      222 11 I 818 S' n 9 a P ore I I Holdings I I THE BUSINESS TIMES I I SHIPPING TIMES REPORTERS I I*B y mStSk. Ports, yards and shipping lines. Shippers and freight forwarders. Brokers, salvors B and charterers. 3 ft Do they mean anything to you? And if they
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  • MOTORING
    • Article, Illustration
      Lock icon Practical chic
      636 12  -  For those who don't want to stray too far from conventionality, Toyota's Echo beckons, says CHRISTOPHER TAM CHRISTOPHER TAN THE story of the Echo can be traced back as far as the mid-*****, when Toyota Motor woke up one morning and decided it needed a makeover to appeal
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    • Article, Illustration
      Lock icon Giant killer
      735 12  -  The diminutive Ignis represents a new generation of Suznkis Byi Christopher Tan SUZUKI Motor belongs to a rare group of automotive firms that have no delusions of grandeur. It makes small, affordable cars, zippy motorcycles and a line of rough-and-ready off-road vehicles. It has no expressed ambition to
      735 words
    • Article, Illustration
      Lock icon Radically different
      402 13 The X-rated models have been engineered and styled to create a new driving experience [LONDON] M:G, Rover Gftjupwffl release two more sporty cars this year. Codenamed X2O and X3O, they join the XlO project unveiled recently. According to the company, these new "X-rated" models have been engineered and
      402 words
    • Article
      Lock icon Fuel additives will do the trick
      347 13  -  Robert Meyer Bearings Brakes Automotive Pte Ltd Singapore via Internet I REFER to "Underperforming cars: are fuels to blame?" (BT, Jan 17) as well as the subsequent response from the > vMlnistry of the Environment. Being in the automotive industry myself, I feel the
      347 words
    • Article, Illustration
      Lock icon COE shouldn't be part of package
      172 13  -  S J Lim Singapore, via Internet I FULLY agree with "Time to level COE playing field" (Wheel Matters, Jan 27). The COE should not be used as a component in sales packages. The government or consumer agencies should look at this seriously. Please ask:
      172 words
    • Article
      Lock icon Keep car dealers out of COEs
      100 13  -  Alfred Lee, Singapore, via Internet CAR dealers should not participate in COE tenders. If you check around, you'll find certain dealers only sell their cars packaged with a COE. The actual price of the car is not transparent at all. Dealers for Nissan, Hyundai
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    • Article, Illustration
      Lock icon Raise awareness of pollution-free cars, please
      306 13  -  Alvin Lim Singapore, via Internet TWO very interesting books have just come out on the market. The first, which I have read, describes one of the leaders in ftiel cell technology. For those new to the term, fuel cells are self-generating batteries that make
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    • Article
      Lock icon What is a car to some is just a van to others
      66 13  -  Kuldip Singh Singapore, via Internet THE new Toyota Corolla stands too tall to be pretty. It looks ungainly, at best a design that is just short of mature. Even if blessed with excellent mechanicals, I'd say it would
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    • BUMPER to BUMPER
      • Article
        Lock icon Peugeot 406 this week's 'best buy'
        108 13 W w THE "best buy" this week is a two-litre Continental car going for just just ova: $100,000. The Peugeot 406, a fairly new model that offers exceptional ride and roominess, is being promoted by Sime Singapore's Auto France as "an offer you can't
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      • Article
        Lock icon Reliant Robin grinds to a halt
        98 13 BRITAIN'S Reliant Robin, the three-wheeled flbreglass car made infamous by TV comic Mr Bean, has ground to a halt. The last of the budget car, which sells for about £10,000 (5525,600), rolled off the line this week at Reliant Motors after 60 years in
        98 words
      • Article, Illustration
        Lock icon Reinventing the Cadillac
        103 13 FACED with shrinking sales at home and abroad. General Motor's Cadillac is embarking on a US$4 billion (SI7 billion) programme to restore the luxury brand to its past glory The three-year plan, dubbed Artond Science, includes new plant, new models, new marketing campaigns and new quality standards.
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        Lock icon Toyota to boost UK engine production
        92 13 TOYOTA Motorttorp will boost Britain with the production of a new engine at a plant in Wales. AFP reports Toyota will produce 60,000 one-litre enginey to be shipped to its car factory in Valenciennes. northern France, for use in its Yaris compact car (the
        92 words
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        Lock icon Hyundai not in Z-Car project
        123 13 DAIMLERCHRYSLER has decided to exclude Hyundai Motor from participating in its "world caift known internally as the Z-Car, the WaU Street JournalP Europe quoted a DaimlerChrysler spokesman as saying. •Hyundai will not participate in the project for "at ]e;u| the first several years", he said,
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        Lock icon Chrysler reviewing engine joint venture
        120 13 CHRYSLER, the US division of DaimlerChrvsler, is re vie wing the future of its engine joint venture wtth BMWof Germany as part of its sweeping restructure. Financial Times quoted Chrysler president Dieter Zetsche as saying the group will require fewer engines than anticipated from the
        120 words
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        Lock icon Asean market seen growing fastest
        149 13  -  rnmnll«rl lui vompiiM Dy Christopher Tan THE South-east Asian vehicle market is expected to be the fastest-growing in the world over the next Ave years, says a report by ING Barings. Auto makers and industry experts are projecting an average compound annual growth rate (CAGR)
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      93 13 If you have something the best letter to WHEEL i motor-related to get off MATTERS each month j your chest, write to us. Wl $100 worth jWe welcome feedback s-.v.- s* 'C* Ss* of vouchers. Prizes and suggestions from are sponsored by readers. STAMFORD TYRES. The AUTOMOBiJe ASSOCIATION OF Singapore
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      1542 14 IN THE MATTER OF THE COMPANIES ACT. CAP. SO AND IN THE MATTER OF SOUTHERN CITY FOOD COURT PTE LTD (In Creditors' Voluntary Liquidation) FINAL MEETING NOTICE IS HEREBY GIVEN, pursuant to Section 308 of the Companies Act, Cap. 50. that the Final Meeting of the members and of the
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      410 14 NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298 ECOLLECTIONS (S) PTE LTD (In Voluntary Liquidation) NOTICE IS HEREBY given pursuant to Section 308 (2) of the Companies Ad, Cap. 50 that the Final Meeting of Members of the abovenamed Company will be held at 371 Beach Road
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  • WORLD news
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      Lock icon January US jobless rate hits 4.2% as industries retrench
      462 15 WASHINGTON Manufacturing the hardest hit, losing 65,000j0bs AP, Bloomberg THE US unemployment rate climbed to 4.2 per cent in January, the highest level in 16 months, as the dramatic slowdown in economic growth forced thousands of layofls in carmaking and other
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      Lock icon Daewoo accounts rigged from 1997
      277 15 Arrest warrants out for Daewoo chief and executives Bloomberg [SEOUL] Daewoo Group, once Korea's second-biggest business concern, inflated its profits and sales by 49 trillion won (5566.3 billion) over three years to help it obtain bank loans used for non-cor-porate purposes, prosecutors said. Seoul prosecutors
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        Lock icon Valeo to scrap 1,000 jobs in N America
        55 15 NYT [PARIS] Valeo of France, one of Europe's biggest auto parts makers, said on Thursday that it would eliminate about I,ooojobs in the next six months at factories in North America because its forecasts for the global automobile market predicted a slowdown
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        Lock icon Mattel Q4 earnings beat estimates
        87 15 Reuters [LOS ANGELES] Mattel Inc, the maker of Barbie dolls and Hot Wheels cars, on Thursday reported fourth-quarter results that exceeded analysts' expectations. Its operating income, excluding charges, for the period was U*****.7 million (Ss2lo million), or 28 US cents per share, on revenues of
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        Lock icon Reebok posts profit in fourth quarter
        70 15 AP Reebok reports profit for fourth quarter [CANTON, Massachusetts] Sneaker and sportswear marketer Reebok International Ltd posted a profit in the fourth quarter in contrast to a loss a year ago, saying its shoes sold well in the United States but that the strong
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      • Article
        Lock icon 7-Eleven Q4 net rises 35% to US$14.2m
        64 15 [DALLAS] 7-Eleven Inc, the largest convenience store chain, said fourth-quarter profit rose 35 per cent on higher sales of merchandise such as snacks, sodas and magazine. Net income rose to US$l4.2 million, or 13 US cents a share, from US$lO.5 million, or 13
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        Lock icon Panel says 'no' to punchcard ballots
        77 15 AP [DAVIE, Florida] An election reform task force swept Florida's punchcard ballots and their infamous chads one step closer to history's dustbin, voting unanimously to recommend that they be prohibited from elections by next year. The task force said on Thursday that it will
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      Lock icon California signs US$10b plan aimed at keeping lights on
      388 15 SACRAMENTO It will allow state to ink long-term power contracts for opto a decade AP THE governor has signed a US$lO billion (5517.3 billion) plan aimed at keeping California's lights on while lawmakers try to fix the state's spiralling energy crisis.
      AP  -  388 words
    • Article
      Lock icon European steel maker Corns to cut output 6,000 jobs in Britain
      374 15 ■LONDON NYT BRITAIN'S beleaguered heavy-industrial sector has taken a severe knock with the leading European steel maker Corus Group announcing that it would cut 6,050 jobs, a fifth of its work force, mostly in regions of Britain already economically
      NYT  -  374 words
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      Lock icon SEC rejects Buffett's petition
      220 15 WASHINGTON Bloomberg BILLIONAIRE Warren Buffett failed in an effort to persuade the Securities and Exchange Commission (SEC) to review a staff decision that forced him to disclose confidential stock investments last year. Berkshire Hathaway Inc, the Omaha holding company controlled by Mr Buffett, revealed 28 securities
      Bloomberg  -  220 words
    • Article
      Lock icon GE may slash 50,000 jobs: analysts
      473 16 FAIRFIELD Absorption of Honeywell, Internet move among factors cited Bloomberg GENERAL Electric Co may eliminate about 50,000 jobs as it absorbs Honeywell International Inc, shifts more business to the Internet and pares positions from its economically sensitive units, analysts and investors estimate. Some 20,000
      Bloomberg  -  473 words
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      Lock icon Senate gives Ashcroft nod to join Bush Cabinet as Attorney-General
      534 16  -  Divided mostly along party lines, the chamber voted 58-42 for Ashcroft From Leon Hadar in Washington AS predicted by most political analysts, US President George W. Bush has succeeded in winning Senate confirmation of John Ashcroft as the nation's new
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      Lock icon Jan 3 FOMC meet saw economy weakening
      678 16 WASHINGTON Prompt and forceful policy action needed, minutes re veal Bloomberg FEDERAL Reserve policy makers cut interest rates on Jan 3 because the US economy had slowed so much in late December that it needed "prompt and forceful policy action", according to minutes
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      Lock icon Some Fed insiders see slowdown continuing
      253 16 Reuters [NEW YORK) Some insiders at the Federal Reserve fear the economy is not close to bottoming out, US magazine Business Week wrote on Thursday after the central bank cut interest rates for the second time in one month to breathe new life into
      Reuters  -  253 words
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      Lock icon Strong Jan sales surprise carmakers in US
      434 16 DETROIT NYT AMERICANS snapped up new cars and sport utility vehicles (SUVs) in January as though the economy were booming and lay-offs were far from their minds, surprising and even mystifying auto executives worried about plunging consumer confidence and an economy that has
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      Lock icon Warner Bros Studio stores call it a day
      612 16 LOSANGELES LAT-WP THE high-flying Warner Bros Studio stores once a splashy marquee for Bugs Bunny, Batman and other Warner corporate symbols have gone kaput. This week, the Los Angeles and Palo Alto stores closed, as did the flagship store on New York's
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    • Article
      Lock icon Creditor takes Bridge to bankruptcy court
      251 16 ST LOUIS Bloomberg BRIDGE Information Systems Inc investor Highland Capital Management LP asked a bankruptcy court judge to order the sale of the financial news and data company's assets to help pay U5526.7 million (5546.5 million) in claims. Three of Highland's funds, Highland Legacy
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      93 15 jiijlTU 0 W**#'y kl* lf%H #KA4 #4 At CravS, we present the fusion of a IT lIV Q modem setting and succulent seafood SEAFOOD so good, youH simply crave ft.. N0.20 Craig Road #01-02/03 1* Craig Place Singapore *****2 Tel: 538 8881 ®wB9S@m'^SSIB*9!BBI «r@«ri Lianhe Zaobao Life I insurance- I
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  • FINANCE & commodities
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      Lock icon Futures close mixed with players unsure
      309 17  -  SGX Derivatives TmtiSngßepart ST Index/MSCI STpore Index Lau Chee Keong Refco Singapore THE Singapore stock market yesterday extended its fall for the second day in a row on profit-taking despite rallies in the US equity markets on Thursday. Heavily weighted financial and property shares
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      Lock icon Rate cut pushes up futures
      245 17  -  MSCI Taiwan Index Lau Chee Keong Refco Singapore LOWER interest rates and an agreement over the nuclear plant sent the Taiwan stocks to a higher close yesterday. A surge in US markets on Thursday lent further support to the Taiwan market. At the close, the
      245 words
    • Article
      Lock icon World oil prices stay at 8-week high
      152 17 ENERGY REPORT Reuters [LONDON] Oil prices slipped yesterday but remained near eight-week highs after a surprise day-earlier rally left many traders scratching their heads. North Sea benchmark Brent Blend crude retraced a little of Thursday's US$l.44 gains to stand 19 US cents a
      Reuters  -  152 words
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      Lock icon CURRENCY REPORT
      326 17 Reuters TiWiilfln THE US dollar came under fire yesterday, hitting onemonth lows against the yen and three-week lows against the sterling, as concern grew over the pace of economic slowdown in the US. Dealers were cautious ahead of a key US employment report later in the day, after
      Reuters  -  326 words
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      1163 17 DITERBAMM CROSS RATES Feb2 *> q w iw nr f n$ ym w m tigwib m> a m sr w$ Bain us$ Australia 0.430 4.609 0.990 3371 1154 4331 25.763 52.967 0340 6.942 2.1K 1235 32.910 ***** 0.965 4296 0.905 T7.927 ***** 0.375 0.555 Cant* 1205 5354 0.711 4.665 1391
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      1775 17 SWOMFPTOBBS Feb 2 RUOOER (Mm dock* as at 5.30pm) RSS1 CONTRACTUS certsAo) Close Volume OpM Moatt tto—i) totorost Mar 01 107.00 i960 Apr 01 110.25 400 May 01 H2.75 400 Jun 01 TW.25 400 RSS 3 CONTRACT (US Volume OpM Mont* High Low Sott (to—M) mtftd Mar 01 050 1950
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  • STOCKS east asia
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      Lock icon Hang Seng Index falls due to lack of fresh leads
      2795 18 HOMGKOMG AFP P Hang Seng -92.70 HONGKONG share prices closed 0.6 per cent lower yesterday on profit-taking in the absence of fresh leads to spur buying, dealers said. The key Hang Seng Index lost 92.70 points to close at 16,071.29,
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      Lock icon TAIPEI
      379 18 AFP □*P Index +15L33 TAIWAN share prices rose 2.6 per cent yesterday to breach the resistance level of 6,000 on buying sparked by the central bank's interest rate cut and the easing of political uncertainity, dealers said. The Taiwan Stock Exchange Weighted Price Index gained 151.33 points to 6,049.26,
      AFP  -  379 words
    • Article
      Lock icon Nikkei dips as focus falls on smaller caps
      2054 18 TOKYO AFP □Nikkei 228 -75J2 SHARE prices in Tokyo edged down 0,6 per cent yesterday as a lack of buying leads shifted investors' focus from hightechnology issues to smaller counters, brokers said. The Tokyo Stock Exchange's Nikkei--225 average closed down 75.92 points
      AFP  -  2,054 words
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  • STOCKS klse
    • Article, Illustration
      Lock icon Foreign buying boosts KL stocks
      399 19 AFP, AFX-Asia. Composite Index +&S1 MALAYSIAN shares closed 1.2 per cent higher yesterday boosted by foreign buying of key blue chips and gaming stocks, dealers said. The Kuala Lumpur Stock Exchange Composite Index rose 8.61 points to finish at 736.34. The Second Board index fell
      AFP,; AFX-Asia.  -  399 words
    • Article
      Lock icon Untitled
      8886 19 INDUSTRIALS Consume products 2001 Last Vol Day Nat Cap W«h Low Company ta>a 'OOP Ht|t> Law P/I 310 300 Ajinomoto 310 17.0 125.6 45 30 Angkasa 39.5 2 17 39.5 37 SU 332 286 Apollo Food Hlg 332 7i 132.8 356 308 Asia Fila 352 12 7 356 346 14.1
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  • SGX clob & regional stocks
    • Article
      Lock icon Untitled
      2755 20 BONDS A WARRANTS W *nh Elm/ tx*rv Lart ¥K On UtMart* An M Cm bar UK MU» H*fc Ln Caapaey Safe ««r- IHII La» ■rw M» Ma (■■«*> tatto Mm UN 47 1 5 Acma W0107Z4 2 1 268 2 1.5 1.5 2 1 41.0 1 300 351 33.50 5
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      Lock icon BANGKOK
      747 20 AFP H SET Index +3.64 THAI stocks closed up 1.1 per cent yesterday due to speculative buying in small finance and property stocks, dealers said. The Stock Exchange of Thailand (SET) Composite Index closed up 3.64 points at 334.10 while the SET 50 rose 0.30 points to close at
      AFP  -  747 words
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      Lock icon MANILA
      281 20 AFP Composite Index *0.45 PHILIPPINE share prices inched fractionally higher with the Philippine Stock Exchange Composite Index up 0.45 points to 1,669.58. Volume fell to 1.03 billion shares worth 615.27 million pesos from 1.03 billion shares worth 577.9 million pesos on Thursday.—AFP FR2 Peso (000) Abacus Construction 0.55 unch
      AFP  -  281 words
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      Lock icon JAKARTA
      720 20 AFP 11 Composite Indei +2L40 INDONESIAN shares prices soared 5 per cent yesterday following late bargain-hunt-ing in blue chips by foreign funds, dealers said. The Jakarta Stock Exchange Composite Index added 21.40 points to close at 451.98 on volume of 1.76 billion shares valued at 1.40 trillion rupiah. The
      AFP  -  720 words
    • Article
      Lock icon WELLINGTON
      263 20 AFP PIBSE-40 -104 NEW Zealand shares slipped 0.2 per cent yesterday as international investors kept to the sidelines because of worries about the US economy, dealers said. The NZSE--40 Capital Index closed down 4.04 at 2,010.93 on turnover of 26 million shares valued at NZ582.06 million. —AFP N» COOP)
      AFP  -  263 words
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      Lock icon SYDNEY
      534 20 AFP PAH Primaries -7.40 AUSTRALIAN shares closed 0.2 per cent lower yesterday as investors await profit results and a decision on interest rates by Australia's central bank next week, brokers said. The All Ordinaries index closed 7.4 points lower at 3,304.7, while the SP/ASX2OO index eased 9.0 points to
      AFP  -  534 words
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      Lock icon SEOUL
      312 20 AFP n Composite Index -182 SOUTH Korean shares fell 0.6 per cent with the index down 3.82 points at 608.48. Volume was 342.7 million shares worth 1.8 trillion won. —AFP f*2 «h» Anam Semi 4750 -150 Brain Tech W -25 Central Bank 170 unch Cheil Comm ***** -1200 Dm
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  • Article
    Lock icon STOCKS sgx
    5143 21 SGXMAXMBOARD Transaction date: Feb 2 Cf 6r M Wt ci m i»st Vol Day Last Oust* Wv Wv YW Mat Cag Avq High Law Company Sala COOP) Low Buyer Sailor C'vr M MULTMNDUSTRY t MJ ,58 64 m c AcmaSOc 67 *2 4692 69 6Si 67 67.5 5
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      54 21 ll attilfclMSWS I u.tN.NMviMM B I I Neptune Orient Lines Limited I IPO. Shares. Bonds. Stocks. Annual Reports. 4MHB I I Whatever you're offerinq, we help you reach out I I to 86.7% of all adults In Singapore dally. V. 7„.v j ra S meS us ness Times Lianhe Zaobao
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      223 22 Where to wine, dine and entertains cojteggSr S2£SK£5l H|an& Pre-Chinese New Year Company Gathering $368 and for 8 to 10 pax Chinese New Vmt ftmUy Reunion Set Menus $368 $1,288 for 4 to 10 pax For reservations, please calf 1800-299 9011 or 290 8005 Prices subject to 10% fttftce charge
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      44 22 jg P^W«^mS9HHHHHB The Neptune Presents Beijing Opera performance by members of the Pei Yan Ling Opera Arts Centre, Hebei 4,10, 11,17, 24, 25 February 2001 TeL 224 3203/831 6288 &RI4-. 4. L J K&SS 333 Orchard Road, Singapore *****7. w«« Tel: *****11 Fax"732 2361
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  • Page 22 Miscellaneous
    • Miscellaneous
      Lock icon Page 22 Miscellaneous Column 1
      906 22 Qcotnl 7.00 Sat Night Movie: Se- 030 Ultraman Tiga. ILOO The World Tonight. a nA -cret of My Success. 74)0 Transasia. 1130 48hrs. 8.00 AM Kids Central. The 9.00 Suddenly Susan: Hal- 84)0 Berita. IX3O AM Star's Time Out. q Oft JSf' loween. 830 Kuala Selangor. LOO Headlines. HHHHe M
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    • Miscellaneous
      Lock icon Page 22 Miscellaneous Column 2
      278 22 CRYPTIC CROSSWORD ACROSS 5 Pony's bird of prey? (9,6) 1 Get up to take smoker to tempo- 6 Late irate about old philosopher rary water outlet (9) 9 9 Lady found piece leftover in un- 7 Renaissance? No, before that! derwear (6) (9) 10 Make a hole with one's attempt
      278 words
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  • The Arts
    • Article, Illustration
      Lock icon New life for old paintings
      695 23  -  The MD of Soobin Art Gallery has offered a solution by way of an art bazaar for those fine works sitting in storage. AARON LYE gets an idea of how it works AARON LYE DO you have a stack of old paintings gathering dust in
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      Lock icon Sounds of a living legend
      275 23  -  By Parvathi Nayar TERMS like "living legend" are tossed around without enough thought in these tiroes, when marketing hype rules over veracity. However, in the case of India's celebrated sitar player Ustad Vilayat Hussain Khan, it is a description that is more than well-deserved. Not
      275 words
    • Article
      Lock icon THE PROGRAMME
      876 23 MUSIC Emily Saxe's Time After Time A performance by Emily Saxe as part of her Asia-Australia tour. Concert includes original material and songs by Cindy Lauper, Sting and Michael LeGrand. Music is provided by a jazz quartet including pianist Don Gomes. Feb 6- 7,Bpm, Jubilee Hall. Tickets priced
      876 words
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      Lock icon SPOTLIGHT
      164 23  -  -By Aaron Lye The buzz: The Singapore Art Museum's (SAM) sth anniversary celebrations, with free admission to the museum grounds over the weekend. Experience guided tours and numerous specially-organised events to commemorate the anniversary. Plot and players: With guided tours for selected SAM exhibits, including Landscapes in Southeast Asian
      FILE PHOTO  -  164 words
    • Article, Illustration
      Lock icon Taking a risk with the audience
      984 25  -  The Necessary Stage's latest production [names changed to protect the innocent] was raw, edgy and highly experimental. AARON LYE was suitably confused AARON LYE IF there's anything you can count on The Necessary Stage (TNS) for, it's a willingness to try anything different. "Different"
      984 words
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      Lock icon Banking on mass appeal
      480 25  -  As presenting sponsor of an IMG triple bill, DBS hopes to start a memorable arts affair By i Cheah Ui-Hoon APPEALING to a wide audience is DBS Bank's intention when it decided to have a "mini" arts festival under its own banner, DBS Theatre Fantasy, this
      480 words
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      Lock icon Budd comes to town
      1611 26  -  His music inspired the Beatles and Bob Dylan. Rock 'n' roll icon Buddy Holly, whose death in 1959 with two other music legends was immortalised as the day the music died' by Don McLean in American Pie, even gave the Rolling Stones their first major hit
      1,611 words
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  • New Asia Biz Woman
    • Article, Illustration
      Lock icon Freefall into the arts
      992 24  -  Tisa Ng and Dr Uma Rajan may have their artistic backgrounds as safety nets but going solo as arts presenter/promoter has been quite a learning experience, they tell PARTATED NAYAR PARVATHI NAYAR PARTLY business, partly a way of supporting artists and community: that's the mantra propelling
      PHOTO BY CHRIS LOH  -  992 words
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      Lock icon Where voices meet
      269 24 Three Dtvas The show is the brainchild of singer Jacintha Abisheganaden, and features three of her promising students—Angela Ng,Rekha Rajan, Petrina Koh. In choosing music for this show, Abisheganaden encouraged the three musical debutantes to go with their instinctive strengths and preferences: Ng sings pop, Rajan sings
      269 words
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      Lock icon Rhythmic moves
      526 24  -  Tammy Wong Dance Company will collaborate with Tang Quartet cellist Leslie Tan in 'Ever After', a piece on first love set to Bach mnsic By Cheah Ui-Hoon DANCE and music go hand in hand, one knows, but ironically, it is a rare occasion to get live collaboration of
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