The Business Times, 7 July 2001

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Microfilm: NL23039
Total Pages: 18
1 18 The Business Times
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  • Title Section
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    15 1 THE BUSINESS TIMES MITA (P) 107/03/2001 Internet: http://business-times.asial .com.sg/ SINGAPORE SATURDAY, JULY 7, 2001 85C
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  • Article
    Lock icon MARKET SUMMARY
    75 1 sn 1,N0171 (-27.26) BT-SBI C 3&33 (-8.95) ST INDEX FUTUBES 1,654 (-80.00) SOISCI FUTURES ***** (-4.70) STOCK MARKET INDICES Friday Change KLSE (X)MP 626.81 +9.67 NIKKEI 225 -***** HANG SENG dosed SET INDEX dosed JAKARTA COMP 432.88 +1.87 MANILA COMP __1,396.92 -6.31 TAIPEI WPI 4,707.01 -119 SEOUL COMP
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  • Article
    Lock icon FINANCE
    81 1 FOREX SATES us$ s$ USS (SS per USS) 1.827 £(l SS/SS per 1.403 1564 EURO(USS/SS/E) 0.839 1532 DM 2.332 1-277 YEN 125.7 68.80 RM 3.800 2.080 HKS 7.800 4169 BAHT 45.38 24.84 RUPIAH 11,340 6,207 *SS to 100 units PRIME BATES SINGAPORE* 5.80 KUALA LUMPUR 7.67 JAKARTA .39.00 BANGKOK
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  • Article
    Lock icon CPF investors seek M rights as shareholders
    553 1  -  BTiamiuwj They are npset over observer status at AGMs, procedure of voting through agent By Siow Li Sen [SINGAPORE] A growing band of investors who have bought shares using their Central Provident Fund (CPF) money are beginning to clamour for their full rights.
    553 words
  • Article
    Lock icon Trading curbs take chunk out of bank stock liquidity
    591 1  -  -irfexclusive Banks ban proprietary trading by broking units to avoid any conflict of interest By Ling Su Ann [SINGAPORE] Trading clamps imposed by banks on their broking units may have cut market turnovers of bank shares by hundreds of millions of
    591 words
  • Article, Illustration
    Lock icon BT tournament attracts 200 golfers
    196 1 [SINGAPORE] About 200 corporate personalities teed off for The Business Times 25th Anniversary Advertising Golf Tournament at the Tanah Merah Country Club's Tampines Course yesterday. Also playing in this year's event were about a dozen of Singapore's top professionals who competed for cash prizes. No
    ARTHUR LEE  -  196 words
  • Article
    Lock icon MAS, CPF turn the heat on fund managers
    1089 1  -  Bummm They want to put a lid on nnit trusts' expense ratios By Genevieve Cua [SINGAPORE] Concerned over the dilution of investors' returns, the Monetary Authority of Singapore and the Central Provident Fund are putting pressure on fund managers to keep a
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  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      59 1 DfSTOE Top Stories Keppel Capital interim profit up 29%. Next Page IMF, Jakarta hopeful of new deal. Next Page Textile provider Ban Joo sees windfall from China's WTO entry. Pg 5 Asean faces emerging threat in Latin America. Pg 7 Biz Woman Shirley Lim on the joys and pains of
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      Lock icon Page 1 Advertisements Column 2
      32 1 Hock Lock Sie- Wf'ter Jours: Eu-i •«:•»<■• A.7Why is DBS Bank Return of Malaysia's Huang Yao, an artist so unpopular? judicial integrity ahead of his time Next Page ■Kj i R.v.,; r;. ?:>:■ 9
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      80 1 j9sj#yNMp /m&% J if IJMKihl.i^^. Hbl\ X fKt^///K^KfS^^^sS?Sjf^^^K ]mr WJ /r JF c Breguet. La passion laisse des traces. Wristwatch "Grande Complication" in 18-carat yellow gold with tourbillon regulator at 12 o'clock. Hand-wound column-wheel chronograph movement 30-minute and 12-hour totalizers S~Yff/JS CS Compensating balance with Breguet overcoil Silvered gold dial,
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  • NEXT page
    • Article, Illustration
      Lock icon Keppel Capital interim net profit up 29% to $176.3m
      711 2  -  Earnings boosted by $40.7 m one-time gain from disposal of investments By Serena Ng [SINGAPORE] Keppel Capital Holdings beat expectations by posting a 29 per cent jump in interim net earnings to $176.3 million but analysts pointed out that the numbers
      Source: Reuters  -  711 words
    • ON THE grapevine
      • Article
        Lock icon Price war in paradise?
        84 2 A SMALL price war may have erupted in idyllic Langkawi. With the opening this month of Hotel Properties' ultra-exclusive 29-room resort Casa Del Mar, The Datai—long the reigning resort there has slashed 40 per cent off room rates. With the promotion (which runs from May 6
        84 words
      • Article
        Lock icon Go West this weekend
        142 2 IF you fancy Western Line Dance, thundering Harley-Davidsons and dino-sized delights, check out Downtown East's Great American Carnival this weekend. The Pasir Ris resort will feature 500 line dancers strutting their honky-tonk stuff this evening, plus Singapore's first launch of Line Dancing VCDs. Line dancers stand
        142 words
      • Article
        Lock icon But avoid these places
        95 2 THE latest Newsweek magazine, on the other hand, gives an idea of some places you should try your best not to visit. For women, it's a good idea to avoid Afghanistan altogether. For children, the worst misfortune is to have to grow up in Sierra Leone.
        95 words
    • Article
      Lock icon Why is DBS Bank so unpopular?
      1201 2  -  loh hui yin WHY was it that Wee Cho Yaw was cheered literally when his United Overseas Bank (UOB) launched a counter-bid for Overseas Union Bank (OUB), whereas the earlier takeover offer by DBS Group went down so badly, not just with OUB's management
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    • Article
      Lock icon IMF, Jakarta hopeful of new deal
      585 2  -  But impeachment process casts shadow on talks From Shoeb Kagda in Jakarta THE International Monetary Fund (IMF) yesterday began a 10-day visit to Indonesia in the hope of reaching a new agreement with Jakarta on stalled economic reforms, just three weeks before President Abdurrahman
      585 words
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  • SINGAPORE companies
    • Article
      Lock icon HSBC denies bid for stake in Keppel Capital
      334 3  -  Denial follows report that MAS thwarted its bid; Citibank mum on rumonrs that it's keen on stake By Angela Tan HSBC yesterday denied a Hong Kong newspaper report that it had bid for a strategic stake in Keppel Capital Holdings (KCH) and
      334 words
    • Article
      Lock icon Keppel Corp to seek mandate from shareholders
      189 3 Disposal of Keppel Capital stake constitutes major transaction KEPPEL Corporation will be seeking shareholders' approval for a general mandate for its directors to decide on the OCBC Bank offer for its 37-per cent held Keppel Capital Holdings (KCH) and any competing offers which
      189 words
    • Article, Illustration
      Lock icon Shares of office landlords drop on fears that mergers will hurt rents
      296 3  -  By Andrea Tan THE share prices of listed office landlords tumbled yesterday on concerns that the bank merger proposals currently on the table could hurt office rents should they go through. Shares of Capita Land fell 4 per
      FILE PHOTO  -  296 words
    • Article
      Lock icon ST Engg may post 20-26% jump in interim net profit
      549 3 Analysts forecast $158-sl66m gain; but qtr-on-qtr growth may be flat Reuters DEFENCE contractor Singapore Technologies Engineering (ST Engg) is seen posting a 20-26 per cent jump in its interim net profit, thanks to strong contributions from its aerospace and electronics
      Reuters  -  549 words
    • Article, Illustration
      Lock icon Ban Joo expects windfall from China's WTO entry
      363 5  -  Revenue poised to jump up to 50% as demand for textiles produced there increases sharply By Liew Hanqing TEXTILE provider Ban Joo Company said yesterday it expects its China operation to yield up to 50 per cent more revenue after China joins
      FILE PHOTO  -  363 words
    • Article
      Lock icon Creative's shares retreat on concern about lower sales
      229 5 Bloomberg CREATIVE Technology's shares fell 4.1 per cent, the biggest drop in almost three months, on concern lower sales by the maker of Nomad Jukebox digital-music player will trigger a wider-than-expected full-year loss. The biggest maker of computer sound cards said this
      Bloomberg  -  229 words
    • Article
      Lock icon SembCorp eyes privatised power plants in region
      407 5 Korean, M'si&n, Thai state asset sales on its radar SEMBCORP Industries Ltd, South-east Asia's biggest civil engineering company, is keen to invest in deregulated power generation plants overseas, after buying one of the three being privatised at home in Singapore. The company may
      407 words
    • Article
      Lock icon Inno-Pac gets notice calling for EGM
      234 5 Shareholders seek to remove 3 directors, disclosure on payouts to them for last year LISTED Inno-Paciflc Holdings yesterday announced that it has received a notice on Thursday from some of its shareholders calling for an extraordinary general meeting (EGM) to consider the removal of
      234 words
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      568 3 Get Smart with The BusipeSftimes Standard Chartered Smart Credit™ y For J ust 85< a day for 6 months, you get: A 6-month Subscription of The Business Times Standard Chartered Smart Credit™ Unlimited Golf for 1 Month i ui Al 4u a x a a.i CQ/in UM i #aN NMl
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  • SINGAPORE markets
    • Article, Illustration
      Lock icon STI falls for fifth consecutive day to hit 5-week low
      617 4  -  1=11 comment STOCKS r. sivanithy INSTEAD of "unlocking value", traders spent most of yesterday cutting losses, as the wave of forced and contra selling that started on Wednesday gained momentum, dragging prices down across the board. A Slew of US
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    • Article, Illustration
      Lock icon Eastgate wrt: patience needed
      178 4  -  WARRANT WATCH By R Sivanithy NEW warrants are always interesting because often the market may not have fully digested its features yet. A further advantage is that there are no stale bulls punters who have accumulated the warrant at higher prices some time back and are
      178 words
    • Article, Illustration
      Lock icon Datacraft: more downside likely
      225 4  -  HOT STOCK By Serena Ng DATACRAFT Asia's stock has fallen 9 per cent over the past week and looks unlikely to recover soon. It closed four US cents lower at US$3.7O yesterday on a volume of 4.1 million shares. The intra-day low was US$3.6O not far
      225 words
    • Article, Illustration
      Lock icon S$ hits 11-year low as US$ explodes through 125-yen
      525 4  -  Players detect possible MAS intervention, see no softening ofMAS stance CURRENCIES larry wee THE Singapore dollar was forced to an 11-year low of 551.8285 against the US dollar before closing almost unchanged, as the greenback accelerated even more strongly against a
      Source: Reuters  -  525 words
    • Article
      Lock icon Untitled
      320 4 Stock* Volume Flextechl5c 12,500,000 AEM-Evertech 5c 10,245,000 Fu Yu Mfg 10c 9,523,000 Willas-Array HK20c 9,446,000 Keppel Capital 7,767,000 NOL 7,274,000 PNEIndlOc 7,108,000 TianjinZhong 7,093,000 Autron 6,692,000 Fischer 15c 6,598,000 Stocks Datacraft 10c 27,211,160 Keppel Capital 26,704,740 Chart SemiCond 24,641,180 OUB 20,534,900 DBS Grp 18,999,698 UOB 16,972,995 VerrtureMfg25c 14,563,200 SIA 13,585,200
      320 words
  • Article
    Lock icon UNIT TRUSTS & FUNDS
    2891 4 UNIT TRUSTS FUNDS Aberdeen Asset Mgt Asia Ltd Aberdeen Select Portfolio: Global MNC Fd 0.733 0.770 Global Technology Fd!** 0.647 0.680 UK Blue Chip Fd!** 0.731 0.769 American Opport Fd 0.835 0.878 ContEuroEqtyFd!** 1.003 1.054 Japan EqtyFd!** 1.185 1.245 Asian Fixed Income Fd 1.114 1.148 Pacific Equity Fd!** 1.230 1.292
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  • Article
    Lock icon BT SHARE information service
    4705 5 Nat Mm CP* Lankom NTS 30-Mar P *****1 37.73 7L94 24.5 Dal* TY LY TV LY LC Dav 8-Mar I 4.469 2.633 064 0.38 Company aim (Sin) (Sm) (cttl (Ctsl La* Hwa 23-Mar P 1.134 4*465 1.09 433 1 LaonqHfn 21-Mar P 3.665L *****. 23L 13L
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  • MAIL bag
    • Article, Illustration
      Lock icon Two lessons from tussle for OUB
      580 6  -  Ong Eng Chuan United Arab Emirates, via Internet I REFER to your article "Will DBS back off or up the ante in OUB tussle?" by Conrad Raj and Loh Hui Yin (BT, June 30). DBS has bungled in its attempt to take over OUB
      FILE PHOTO  -  580 words
    • Article
      Lock icon SGX should solve odd lot issue once and for all
      256 6  -  Narayana Narayana Singapore SHAREHOLDERS of Overseas Union Bank are now being courted by two suitors. Whether they end up with 610 shares of one of them, or 520 of the other, or some other oddment when the smoke has finally
      256 words
    • Article
      Lock icon Has S'pore gone too far in hiring foreign talent?
      302 6  -  Lee Kwok Weng Singapore I REFER to the letter "UOB's bid for OUB shows what it can do with local talent" by Denis Distant (Mailbag, July 4). I fully agree with Mr Distant. Certainly, he was a bit kinder not to
      302 words
    • Article
      Lock icon I'll pick DBS over UOB
      97 6  -  Charlie Chan Brisbane, Australia, via Internet WHO said UOB was great? If UOB's offer is the same as DBS', I will take DBS'. UOB and Wee Cho Yaw have never been good and friendly to UOB shareholders based on my experience with the UOB Foreign
      97 words
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      Lock icon Page 6 Advertisements Column 1
      1213 6 BARCLAYS PLC BARCLAYS Head Office: 54 Lombard Street, London, EC3P 3AH Singapore Office: 23 Church Street #13-08 Capital Square Singapore *****1 .Robinson Road P.O. Box 887, Singapore *****7. Tel: *****00 Qhoate o® o* hi onnn Barclays PLC Consolidated Profit and Loss Account Balance Sheets as at 31 st December 2000
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      Lock icon Page 6 Advertisements Column 2
      1358 6 We welcome letters. E-mail us at 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 mind
      1,358 words
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  • SINGAPORE news
    • Article, Illustration
      Lock icon Asean faces an emerging threat in Latin America
      846 7  -  For now, Asean isn't even aware of the FTAA threat, says Robert Lees By Chuang Peck Ming ANOTHER warning has sounded for Asean on the Latin American threat: if it doesn't get its act together fast, it will lose foreign investments to
      ARTHUR LEE  -  846 words
    • Article
      Lock icon Jet driven into ground, court told
      552 7  -  shjeaxr crash Expert witness agrees probable canse of crash was intentional pilot action By Donald Urquhart THE third witness called to testify in the ongoing lawsuit over the 1997 Silk Air crash of flight MI 185 said there was more than enough technical evidence
      552 words
    • Article, Illustration
      Lock icon Asian nations net capital exporters
      229 7 ASIAN countries whose growth potential is often gauged in terms of the volume of investment inflows they receive are now proving to be net exporters of capital, an SG report notes. According to a Fundamental Asia report this week, recent investment forays by Singapore companies
      Source: SG Securities  -  229 words
    • Article
      Lock icon Kausikan made MFA 2nd Perm Sec
      138 7 MINISTRY of Foreign Affairs veteran Bilahari Kausikan will become Second Permanent Secretary (Foreign Affairs) on Aug 1, a statement from the Prime Minister's Office said yesterday. Mr Kausikan, 47, is now MFA's Deputy Secretary (South-east Asia). He joined the ministry as a foreign service
      138 words
    • Article
      Lock icon New Face on TV Works
      190 7 MEDIA WORKS TV Works has been named the official channel of The New Paper New Face 2001 and will run a series of exclusive features and tie-ins throughout the competition. The New Face contest is a photographic modelling search for the woman who will become
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      1728 7 ECON TO ECON INTERNATIONAL LIMITED (Incorporated in the Republic of Singapore) ANNOUNCEMENT The Board of Directors of Econ International Limited wishes to make the following announcements:1. UNAUDITED RESULTS FOR THE YEAR ENDED 31 MARCH 2001 THE GROUP THE COMPANY 2001 2000 Change 2001 2000 Change ss'ooo siooo ss'ooo ss'ooo Turnover
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  • REGIONAL news
    • Article, Illustration
      Lock icon Mahathir blasts theory on Daim's resignation
      406 8 KUALA LUMPUR Not true his son's former business affairs played a part, he says AP PRIME Minister Mahathir Mohamad claimed yesterday that allegations linking his son's former business affairs to the recent resignation of Malaysia's finance minister were concocted to "get rid" of him.
      AP  -  406 words
    • Article
      Lock icon M'sian industry output down 3.7% in May
      563 8 KUALA LUMPUR Economy won't get better till year-end, analysts say Reuters MALAYSIA posted a 3.7 per cent drop in industrial output year on year in May, as its economy, locked in the downside of a global technology industry cycle, paid the pricS for
      Reuters  -  563 words
    • Article
      Lock icon M'sian port merger may hurt PSA: MBT
      574 8 SINGAPORE may be blessed with an ideal geographical spot for ships to call at but integration of Malaysia's Northport and Port of Tanjung Pelepas (PTP) might be enough to rock the island, the Malaysia Business Times said. Although operators of both local ports
      574 words
    • MALAYSIA Briefs
      • Article
        Lock icon NST surges on possible stake sale
        65 8 Bloomberg [KUALA LUMPUR] The share price of New Straits Times Press (M) Bhd, Malaysia's biggest publisher, rose as much as 19 per cent yesterday, its biggest percentage gain in 18 months, on speculation that its controlling shareholder Malaysian Resources Corp was close to selling
        Bloomberg  -  65 words
      • Article
        Lock icon Utama not selling bank to Hong Leong
        79 8 Dow Jones, AFX-Asia [KUALA LUMPUR] Utama Banking Group Bhd yesterday denied a newspaper report earlier this week that its merchant bank could be sold to Hong Leong Bank Bhd. In a statement to the Kuala Lumpur Stock Exchange, Utama said: "At this juncture,
        Dow Jones,; AFX-Asia  -  79 words
      • Article
        Lock icon Anwar ordered to pay Mahathir costs
        72 8 AP [KUALA LUMPUR] Malaysia's highest court yesterday ordered jailed politician Anwar Ibrahim to pay Prime Minister Mahathir Mohamad RM18.489 (558,893) in costs for a failed defamation suit. The figure was over five times lower than the RM102.114 which Dr Mahathir had sought as defence
        AP  -  72 words
    • Article, Illustration
      Lock icon Philippine firms start output cutbacks, layoffs
      603 9 They face doable wh&mmy of declining exports and higher input costs Reuters [MANILA] Faced with the double whammy of declining exports as the global economy slows and higher input costs as the peso slumps, some Philippine manufacturers have quietly begun cutting back output and
      Reuters; AP  -  603 words
    • Article
      Lock icon Boost for economy soon
      71 9 AFX-Asia [MANILA] President Gloria Arroyo said the government will launch "bold measures" soon to boost the economy and help the peso recover. She refused to give details on the measures. "You'll see them next week. I know what ails the economy and there are no quick
      AFX-Asia  -  71 words
    • NOTE Book
      • Article
        Lock icon Manila exchange probes Itogon-Suyoc
        72 9 Bloomberg [MANILA] The Philippine Stock Exchange opened an investigation into Itogon-Suyoc Mines Inc, an unprofitable gold and silver producer whose shares rose more than 400 per cent last month, an exchange official said. The company denied having information that could explain the price increase in June
        Bloomberg  -  72 words
      • Article
        Lock icon Delay in Indofood's due diligence study
        80 9 AFX-Asia [JAKARTA] PT Indofood Sukses Makmur's due diligence study into acquisition target Golden Agri Resources is being delayed partly due to financial problems within the latter's holding company, Sinar Mas Group, the Jakarta Post quoted Indofood president Eva Riyanti Hutapea as saying. The report
        AFX-Asia  -  80 words
      • Article
        Lock icon Decision on Thai pipeline soon
        84 9 Reuters [SINGAPORE] Thai environmental authorities are expected this month to decide whether a controversial gas pipeline from the Gulf of Thailand to Malaysia will be allowed to proceed, sources close to the project said yesterday. Construction of the 366 km pipeline and a gas separation
        Reuters  -  84 words
      • Article
        Lock icon Estrada willing to reveal bank records
        71 9 AFX-Asia [MANILA] Former president Joseph Estrada said he is willing to have his records in Allied Banking Corp and Westmont Bank examined by the court and the ombudsman in relation to the graft charges filed against him. "I will voluntarily ask these banks to
        AFX-Asia  -  71 words
      • Article
        Lock icon Bank Central Asia shares rise 2.7%
        69 9 Bloomberg [JAKARTA] PT Bank Central Asia shares rose as traders said a three-day sale of stock to the public that ended yesterday was oversubscribed. The bank, nationalised by the Indonesian government following the 1997 Asian financial crisis, rose as much as 25 rupiah, or
        Bloomberg  -  69 words
      • Article
        Lock icon Manila hires CSFB for bond sale
        58 9 Bloomberg [MANILA] The Philippines hired Credit Suisse First Boston (CSFB) to arrange a sale of US$5OO million of bonds, Finance Secretary Jose Isidro Camacho said. The 10-year bonds, to be issued in August, will fund spending by a government that forecasts a Budget deficit
        Bloomberg  -  58 words
    • Article
      Lock icon Parliament warns Abdurrahman over firing of police chief
      406 9 ■JAKARTA MPs say he most first seek their approval to do so Reuters, Dow Jones Newswires INDONESIA'S parliament has formally warned President Abdurrahman Wahid over his move to sack the police chief, adding another black mark to the embattled leader's record only
      Reuters,; Dow Jones Newswires  -  406 words
    • Article, Illustration
      Lock icon The long-awaited return of the dignity of justice
      1061 9  -  WRITER'S JOURNAL Three recent Judicial rnllngs augur well for Malaysia karim raslan THERE have been three dramatic judicial decisions in Malaysia in recent weeks. On May 30, in an emotionally-charged judgment, Justice Hishamudin in the Shah Alam High Court granted a habeas
      1,061 words
    • Article
      Lock icon BOT to manage baht more actively: governor
      234 9 BANGKOK Reuters THAILAND'S central bank will be more active in managing the baht to prevent excessive volatility, Bank of Thailand (BOT) governor Pridiyathorn Devakula was quoted as saying in the Financial Times yesterday. "We manage in order to avoid day-to-day, wide fluctuations, which
      Reuters  -  234 words
    • Article
      Lock icon Taiwan may ease curbs on short selling
      220 10 TAIPEI Reuters TAIWAN'S financial markets watchdog said yesterday that it was conducting a feasibility study to ease stock shortselling rules after the main stock index hit fresh sixmonth lows amid shrinking turnover. The Securities and Futures Commission was evaluating measures including abolishing curbs
      Reuters  -  220 words
    • Article
      Lock icon Unit Trust of India to borrow 15b rupees to pay investors
      579 10 BOMBAY Plan comes four days after it froze sale and bnyback of nnits inUS64 plan Bloomberg NYT UNIT Trust of India (UTI), the country's biggest money manager, says it may borrow as much as 15 billion rupees (Sss7o million)
      Bloomberg; NYT  -  579 words
    • Article, Illustration
      Lock icon China to allow foreign takeovers: Zhu
      252 10 BEIJING Move to help revamp non-performing assets worth L4t yuan AFX-Asia THE government is to allow foreign investors to take over domestic companies and give them more access to the nonperforming loans and assets taken over by China's four asset management companies from the
      AFX-Asia; REUTERS  -  252 words
    • ASIA Notes
      • Article, Illustration
        Lock icon Downgraded typhoon hits Guangdong
        97 10 AP [HONG KONG] A severe tropical storm hit China early yesterday, knocking down hundreds of houses and reportedly leaving at least one person dead, after killing more than 50 in the Philippines and Taiwan. Utor was downgraded from a typhoon before making landfall in Guangdong province.
        AP; REUTERS  -  97 words
      • Article
        Lock icon Japan cellphone firms expand in China
        64 10 AFXAsia [TOKYO] Japan's mobile phone makers are set to expand production in China, with Matsushita Communication Industrial Co, Mitsubishi Electric Corp and NEC Corp planning to double output in the year to March 2002 from a year earlier, the Nihon Keizai Shimbun reported, citing
        AFXAsia  -  64 words
      • Article
        Lock icon Beijing H2 GDP seen growing 8%
        67 10 Dow Jones [BEIJING] China s economy is expected to have grown 8 per cent in first half of2ool compared with the same six-month period last year. A Dow Jones Newswires survey of regional economists shows forecasts in a tight range of 7.9 per cent
        Dow Jones  -  67 words
      • Article
        Lock icon Chunghwa Telecom cuts 2.300 jobs in H1
        75 10 AFP [TAIPEI] Taiwan s state-run Chunghwa Telecom Co said yesterday it had slashed 2,300j0bs or 6.7 per cent of its total workforce in the first half of this year to cut costs. The workers either retired or resigned voluntarily, the company said. The
        AFP  -  75 words
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      Lock icon Page 8 Advertisements Column 1
      2342 8 (flgiwa) ACMA LTD (Incorpoiated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting ("EGM") of Acma Ltd (the "Company") will be held at 17 Jurong Port Road, Singapore *****2 on 30 July 2001 at 3.30 p.m. for the purpose of
      2,342 words
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  • Page 9 Advertisements
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      Lock icon Page 9 Advertisements Column 1
      340 9 M THE MATTER OF THE COMPANIES ACT, CHAPTER 50 NEWLET TRADING PTE LTD MEMBERS' VOLUNTARY LIQUIDATION At an Extraordinary General Meeting of the Company deemed to be held at 10 Collyer Quay *19-08 Ocean Building, Singapore *****5 on 30 June 2001, the following resolutions were duly passed: 1. SPECIAL RESOLUTION
      340 words
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      Lock icon Page 9 Advertisements Column 2
      16 9 I I Lianhe Zaobao B I Is prominent I I I I I I aaait? I
      16 words
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  • FINANCE
    • Article
      Lock icon Futures fall as stocks extend losses
      270 10  -  ST Index/MSCI S'pore Index CK Lau Refco Singapore SINGAPORE stocks yesterday extended losses, pushing the Straits Times Index to its lowest level in five weeks as US markets tumbled after a slew of earnings warnings hit big capitalised companies. The benchmark Straits Times Index
      270 words
    • Article
      Lock icon Futures slide after an early surge
      226 10  -  MSCI Taiwan Index Daniel Wong Refco Singapore TAIWAN stocks yesterday extended losses, with the MSCI Taiwan Stock Index ending 1.21 points, or 0.54 per cent, down at 220.96. The turnover for the index was 445.16 million. However, gainers led losers 38 to 20, as
      226 words
    • Article
      Lock icon CURRENCY REPORT
      215 10 Reuters London THE US dollar held firm yesterday, hitting eight-month highs against euro and threemonth highs against yen as recent data inspired confidence in relative growth prospects for the US economy. The US unit also hit 15year highs against a tradeweighted basket of currencies and record highs against
      Reuters  -  215 words
    • Article, Illustration
      Lock icon Untitled
      1212 10 1MTBMAHCMBSMTBS M6 A$ C$ fcnh faro Ffr Pw HKS Von Wow KM >Z$Pafc Bs Peso S$ Bawd Sfr NT$ Saht Pound US$ Australia 0.775 4251 0.611 4.007 1195 1995 24.154 58.069 0.644 6*36 1947 1269 32*74 27.088 0.936 4.198 0.930 17.657 ***** 0.365 0.512 Canada 1.290 5.482 0.788 5.168 1541
      1,212 words
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  • Article
    Lock icon COMMODITIES
    1915 11 SICOM FUTUIiES Jul 6 RUBBER (futures dosing as at 5.30pm) RSS1 CONTRACTS cents/kg) Close Volume Open Month High Low Sett (towns) Interest Aug 01 m.50 Sep 01 m.75 Oct 01 112.50 Nov 01 113.50 RSS 3 CONTRACTUS cents/kg) Volume Open Month High Low Sett (tonnes) Interest Aug 01 60.75
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  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      157 11 SIN G A P ORE PRESS HOLDINGS NEWSPAPERS PR E S 111 S® EMSMM^si I'l/J LM Win up to $10,000 weekly in our Daily DrawsfV^|| Mi '^%k k Spend $30 mWmura to a single receipt at any participating MJ outlet and caß the hotline or the same day to submit
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  • e News
    • Article
      Lock icon Wall St shocked as tech giants falter
      615 12 FROETT WARMINGS BMC, EMC, AMD will miss Q2 forecasts by far; investors brace for heavy sell-off Reuters [PALO ALTO, California] A summertime stock market rally seemed to be out of the question on Thursday after three more high-tech heavyweights warned that that they
      Reuters  -  615 words
    • Article, Illustration
      Lock icon Motorola seen making Q2 loss of US12c a share
      458 12 SAN FRANCISCO But analysts expect improved second half for the company AFX-Asia MOTOROLA Inc will report on Wednesday after market close a loss of 12 US cents a share, plunging from earnings of 28 US cents a share in the same
      AFX-Asia; REUTERS  -  458 words
    • Article
      Lock icon WorldCom cuts 2001 profit outlook for Internet unit
      404 12 PHILADELPHIA Reuters VOICE and data services company World Com Inc on Thursday cut the 2001 profit outlook for its main Internet unit due to a change in accounting of its stake in Brazilian carrier Embratel, and the recent purchase of Intermedia Communications
      Reuters  -  404 words
    • Article
      Lock icon Japan chip majors cut output halt some operations
      389 12 TOKYO Hitachi says drop in wH sharper than expected AFP MAJOR Japanese high-tech firms said yesterday that they were slashing semiconductor production and halting some operations due to a worse-than-expected demand slump in the information technology sector. Technology stocks dived as it
      AFP  -  389 words
    • Article
      Lock icon Asia-Pac online trade seen doubling in 2001
      222 12 SINGAPORE Dow Jones Newswires CONSUMERS in the Asia-Pacific region spent US$6.B billion online last year, more than double 1999 levels, and the figure for 2001 is expected to reach US$l4 billion, according to a report on electronic commerce. The growth is attributed mainly
      Dow Jones Newswires  -  222 words
  • Article
    Lock icon STOCKS asia
    5600 12 CHINA Vol Jul 6 RMB COOP) Anhui Gujinq Distill B 11.20 -0.54 325 Beijing Orient Elect B 11.06 -0.29 2225 Bengang Steel Plates B.—4.09 -0.11 3452 Changchai Co B 6.92 -0.17 736 Chengde Dixian Tex B .11.16 -0.30 637 China First Pencil B 1.06 -0.01 1204 China Int'l
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  • WORLD news
    • Article, Illustration
      Lock icon Royalty says cheese
      34 13 [KENMORE] The Prince of Wales about to eat some cheese offered to him during a visit to ancient lochside dwellings at the Scottish Crannog Centre in Perthshire, Scotland on Thursday. AFP
      AFP  -  34 words
    • WORLD Watch
      • Article
        Lock icon Robert Mueller to be new FBI chief
        84 13 LAT-WP [WASHINGTON] President Bush on Thursday picked a longtime federal prosecutor known as a no-nonsense manager to rim the FBI in the hopes of rehabilitating an agency buffeted by high-profile blunders. Mr Bush nominated Robert S Mueller, 56, the US attorney based in
        LAT-WP  -  84 words
      • Article
        Lock icon French economy posts slow Q1 growth
        88 13 Bloomberg [PARIS] The French economy grew slower than at any time in the past two years in the first quarter, final government figures showed, as ebbing world growth eroded exports and persuaded companies to let inventories decline. Gross domestic product in Europe's third-largest economy
        Bloomberg  -  88 words
      • Article
        Lock icon FDI in South Korea rises 16.8% in H1
        77 13 Reuters [SEOUL] Foreign direct investment (FDI) in South Korea rose 16.8 per cent year on year to US$6.7 billion for the first six months of2ool, a local newspaper said yesterday. The Korea Herald quoted the Minister of Commerce, Industry and Energy Chang
        Reuters  -  77 words
      • Article
        Lock icon Guess? earns less than expected in Q2
        81 13 Bloomberg [LOS ANGELES] Guess? Inc earned less money than expected in the second quarter after the clothes designer and retailer's same-store sales for the period fell 16 per cent as consumers bought fewer items of clothing. Profit was 2 US cents to 4
        Bloomberg  -  81 words
    • Article
      Lock icon June jobless, payroll figures worsen
      499 13 WASHINGTON Data worse than expected as firms follow through on planned layoffs Bloomberg THE US unemployment rate rose in June and payrolls declined more than expected, as businesses responded to a slowing economy by following through on job cuts announced months ago. The unemployment rate
      Bloomberg  -  499 words
    • Article
      Lock icon US companies' staff cutback plans up 56% in June
      376 13 NEW YORK Cnts for HI total 777,362, more than 3 times that in same period last year Reuters LAYOFFS announced by US companies jumped 56 per cent in June compared to May as firms struggling with the economic slowdown jacked up
      Reuters  -  376 words
    • Article, Illustration
      Lock icon Euronext shares sink fast at debut hit by poor sentiment
      325 13 PARIS Reuters SHARES in Euronext, the world's fifth-largest stock exchange, fell as much as 10 per cent on their bourse debut yesterday, hampered by poor market conditions and investor concern about the company's direction. By 0945 GMT, the stock was
      Reuters; FILE PHOTO  -  325 words
    • Article
      Lock icon Economists further cut euro-zone GDP to 2%
      354 13 LONDON Reuters ECONOMISTS have again cut their forecasts for eurozone economic growth, amid continuing doubts about Germany's economic prospects and challenging the European Central Bank's reluctance to cut interest rates. In a Reuters poll, economists at banks and research groups around Europe predicted
      Reuters  -  354 words
    • Article
      Lock icon US needs Europe, Japan on board
      517 14 WASHINGTON All need to work together to spar global economic growth: Paul O'Neill AFP, NYT US Treasury Secretary Paul O'Neill said on Thursday that Europe and Japan "need to play a locomotive role" along with the United States in spurring global growth because of
      AFP,; NYT  -  517 words
    • Article
      Lock icon Q2 investments in European start-ups fall 60%
      321 14 LONDON Bloomberg INVESTMENTS in European start-up companies fell 60 per cent to 800 million euros (Ssl.2 billion) in the second quarter as interest in Internet and other technology-re-lated companies plummeted with the slump in stock prices, according to Initiative Europe. Venture-capital firms invested
      Bloomberg  -  321 words
    • Article, Illustration
      Lock icon Vivendi chief urges sharp ECB cuts
      347 14 PARIS No-change policy damaging NTs prospects, he says Reuters VIVENDI Universal chairman Jean-Marie Messier on Thursday called for the European Central Bank (ECB) to cut interest rates sharply, saying its no-change policy was damaging the European Union's growth prospects. "I think the European Central
      Reuters; AFP  -  347 words
    • Article
      Lock icon Merrill arm closes LA operations
      314 14 NEW YORK Money-management execs bny stock fond group; 40 staff axed Bloomberg MERRILL Lynch Co's mon-ey-management division is closing its Los Angeles operation by selling its US stock fund group, consolidating other operations and firing 40 people. The US stock fund group, which manages about
      Bloomberg  -  314 words
    • Article
      Lock icon US rulemakers ban bookkeeping method
      172 14 Bloomberg [NORWALK, Connecticut] US accounting rulemakers voted unanimously to ban a bookkeeping method that allowed companies involved in mergers to avoid costly write-offs and thus boost earnings. The new rule, passed by Financial Accounting Standards Board last week, requires companies to use "purchase accounting" when
      Bloomberg  -  172 words
    • Article
      Lock icon Pauline Hanson faces fraud charges, vows to fight back
      410 15 IPSWICH, Australia One Nation leader faces up to 10 years in jail if convicted Reuters AUSTRALIA'S right-wing political firebrand Pauline Hanson said yesterday she was facing fraud charges but would fight on to try to win a place in the national
      Reuters  -  410 words
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  • Article
    Lock icon SGX clob
    2682 14 BOMBS A WARRANTS mb n Mt M vqtn M-«Hk latf W Oty ImMmto tq hntf Cm* Em Mk Mba m> l— rwim Ml *m- (HI) I— I— Beyer M» WW to—rt -M» Mm (%> «—tof LUI 39.5 29 s ASTIW*****1 32 -4 2555 39.5 32 32 32.5 33
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  • Article
    Lock icon STOCKS sgx
    8097 15 SGXMAIMBOARD Gr Gr M Wt L«it Vol Day LM Quote Mv Mv VM Mat Cm A«t HI* Low Cowhk Sate *4- (tm NMi lew Wmm $*r Cw Wt 3 Wa MULTI-INDUSTRY 143 35 C Acma50c 39.5 40.5 94 39.5 38.5 39 39.5 0.5 19.9 0.6 10/4 615 40
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  • BT motoring
    • Article, Illustration
      Lock icon Desert Lion gets thumbs up
      1243 16  -  smiuel ee drives the new Peugeot 307 through sunbaked Taroudant, Morocco with a dry collar most of the time, anyway SAMUEL EE IF there had been an ad, it could well have read something like this: "Pretty model from leading French company looking for a
      1,243 words
    • Article
      Lock icon Issue stickers to drivers with good road habits
      211 16  -  Tan Kok Tim Singapore I REFER to recent letters calling for the Traffic Police to penalise drivers who don't signal before changing lanes. All of us have a role to play in making our roads safe not just the Traffic Police. I'd
      211 words
    • BUMPER to BUMPER
      • Article
        Lock icon Inquiry into supply of discounted Mercs
        180 16 DAIMLERCHRYSLER has tried to distance itself from a policy of supplying discounted cars to senior South African government officials by a subsidiary company participating in a US$5.3 billion defence deal. The Scorpions, an investigative arm of the South African police, has launched an inquiry
        180 words
      • Article
        Lock icon Nissan divests stake in parts supplier
        100 16 NISSAN Motor has sold its 23.4 per cent stake in one of its parts suppliers to Aisin, Japan's second-largest parts group. The sale of its Exedy stake is part of Nissan's plan to consolidate its supplier base and reduce interest-hearing debt by offloading shares
        100 words
      • Article
        Lock icon Merc dealers ready to settle
        161 16 MERCEDES-BENZ car dealers in the UK have indicated they are close to a settlement with DaimlerChrysler UK over its plan to dismantle its nationwide network of dealers. The company has angered the dealers with plans to replace the network with "market area concepts" requiring only
        161 words
      • Article
        Lock icon Volvo in US$1m deal with IT firm
        76 16 VOLVO Cars has signed a US$l million deal with Swedish IT company IFS to implement a new Internet-based material supply system. IFS Applications 2001 will be implemented at the engine centres in Gothenburg and Belgium. The system will be running in January 2002.
        76 words
      • Article
        Lock icon Caltex extends cabby benefit scheme
        121 16  -  Compiled by Christopher Tan CALTEX is extending benefits under its Cabbie 21 programme to allow members to go for free medical health checks. Under the new Caltex Cabbie 21 Gold Privilege Programme, qualifying members over 50 will receive a voucher for free medical check-ups. Gold
        121 words
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      98 16 If you have something $10 0 worth of motor-related to get off vouchers. Prizes are your chest, write to us. \/\/hpp| sponsored by We welcome feedback STAMFORD TYRES, and suggestions from I*l Oi %j> w fci B 531 Singapore s only readers. listed tyre and auto The AUTOMOBILE services group.
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  • BIZ woman
    • Article, Illustration
      Lock icon Parallel lives
      1013 17  -  As tam hwee BWEE discovers, she has more in common with globe-trotting poet Shirley Geok-lin Lim than the fact that both their new books are hitting the shelves in the same month TAM HWEE HWEE YOU don't find many novelists writing about our little island, so it's unusual
      ARTHUR LEE  -  1,013 words
    • Article, Illustration
      Lock icon Poignancy lost in rational analysis
      530 17  -  BOOK REVIEW By Tan Hwee Hwee SHIRLEY Lim's first novel is a short but ambitious book. Spanning three nations and decades, Joss Gold begins in Malaysia (1968), where we meet Li An, a tutor at the University of Malaya who's married to the staid Henry
      530 words
    • Article
      Lock icon THE PROGRAMME
      651 17  -  Compiled by Aaron Lye MUSIC The Merchant of Venice By the Yusof Ishak Secondary School, the play will also feature dance and music. July 7,2.30pm and 7.30pm, University Cultural Centre, NUS. Tickets of $15 and less can be bought at the door. For enquiries, please email changteckhui@yiss.moe.edu.sg. Regi
      651 words
    • Article, Illustration
      Lock icon A modern touch to traditional puppetry
      299 17  -  THEEHS By Cheah Ui-Hoon WITH the abundance of hightech equipment and gizmos to help create special effects, and sophisticated computer animations on screen, it's not easy to encounter craft in the arts nowadays. So it will be a wondrous journey of discovery for most
      299 words
  • Page 17 Miscellaneous
    • Miscellaneous
      Lock icon Page 17 Miscellaneous Column 1
      312 17 CRYPTIC CROSSWORD ACROSS down (7) 1 What atomic scientists do to en- 6 She's a good speller (9) rich themselves? (4,1,4) 7 Letter quality (9) 9 Bouqht boiled bacon in Notts. 8 a member gets direly snared (6) 10 Pedant means to make a roster 14 midshipman in il/g\ licit
      312 words
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  • EXECUTIVE Arts
    • Article, Illustration
      Lock icon A family legacy
      1398 18  -  To Carolyn Wong, her late grandfather Huang Yao just happened to be someone who painted. But thanks to her and her mother's efforts, S'pore has the chance to view works of an artist considered ahead of his time. parvathi nayar gets first-hand insights PARVATHI NAYAR CAROLYN Wong,
      1,398 words
    • Article, Illustration
      Lock icon Body of work
      532 18  -  Two Aussie artists will take audience to The Wild Edge, their multimedia work which emphasises the body amid a landscape setting, cheah ui-hoon explores CHEAH UI-HOON IT'S not often that medical diagnostic images get translated into art. When two Australian artists Rebecca Youdell and Russell Milledge put
      532 words