The Business Times, 28 July 2001

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Total Pages: 16
1 16 The Business Times
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  • Title Section
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    15 1 THE BUSINESS TIMES MITA (P) 107/03/2001 Internet: hup.V/business-times.asial .com.sg/ SINGAPORE SATURDAY, JULY 28, 2001 85C
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  • Article
    Lock icon MARKET SUMMARY
    76 1 Dsn (+1.04) mmwi-rn U 632.72 (+2.76) ST IMDEZ FUTURES yaun (-2.00) □smsci FUTURES 1S&30 (-0.05) STOCK MAEKET INDICES Friday Change KLSECOMP 646.33 +164 NIKKEI 226 11,798.08 40.48 HANG SENG 12,182.17 _+***** SET INDEX 801.09 -414 JAKARTA COMP —447X +3.69 MANILA COMP +0.76 TAIPEI WP1 4,320-69 +20.18 SEOUL COMP
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  • Article
    Lock icon FINANCE
    81 1 POEEZ BATES us$ s$ USS (SS per USS) 1.799 £(USS/S$ per 1.426 1566 EUB0(CSS/5$/E) 0.876 1576 DM 2iS2 1141 YEN 1219 68.90 RX 1800 2.112 HKS 7.800 4.336 BAHT 45.62 25.36 RLTIAH 9.953 5,533 m S$ to 100 units FUME SATES SINGAPORE* 5.80 KUALA LUMPIH 7.67 JAKARTA .39.00 BANGKOK
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  • Article
    Lock icon MAS move to free up billions in banks' mandatory liquid assets
    855 1  -  New framework allows banks to move to risk-determined minimum liquid assets By. Angela Tan, Siow Li Sen [SINGAPORE] The Monetary Authority of Singapore (MAS) yesterday announced sweeping changes to bank liquidity rules that will shave the high prudential costs
    855 words
  • Article
    Lock icon What it takes to be an independent financial adviser
    631 1  -  MAS said to be mulling over guidelines By Genevieve Cua [SINGAPORE] Fancy calling yourself an independent financial adviser, or IFA? Then you may need to prove that you are truly independent before you can hang that shingle on your office door.
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  • Article, Illustration
    Lock icon DBS top brass slash own pay by 20% to cut costs
    418 1  -  80 plus MDs also take 10% cut, bat other staff won't have to follow suit By Vince Chong [SINGAPORE] The five top brass at DBS Group Holdings have slashed their pay 20 per cent for the rest of the
    418 words
  • Article
    Lock icon US Q2 growth sinks to 0.7%, slowest in 8 years
    567 1 Growth has now stayed below 2% for three straight quarters [WASHINGTON] The US economy grew at a 0.7 per cent annual rate in the second quarter, the slowest pace in eight years, as business investment in equipment and software slumped
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  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      69 1 DBBPE Top stories S'pore has potential to become regional listing hub: US Conference Board director. Pg3 CityDev to raise Changi Rise condo prices. Pg 5 Sept auction for fixed wireless spectrum rights. Pg 6 HK tycoon Nina Wang debuts as comic book star. Pg 10 No Maersk nod in Tanjung
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      54 1 Porsche's latest 911 'X) J i) More than a pretty makeover MOTORING. Pg J4 Private Q2 sales of home prices HDB resale fall 5% in flats exceed first half 11,000 Next Page Next Page Why Malaysia's universities need reinvigoration KARIM RASLAN, Pg 9 >. %v y. t "S Staging Miss
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  • NEXT page
    • Article, Illustration
      Lock icon Private home prices fall 5% in first half
      749 2  -  URA/HDB STATISTICS URAQ2 index 10% down from recent peak, bnt 26.3% above 98 bottom By Kalpana Rashiwala [SINGAPORE] Private home prices eased 5 per cent in the first half of this year from end-2000, but this did not stem a 16 per
      Source: URA/HOB  -  749 words
    • Article
      Lock icon Sales of HDB resale flats exceed 11,000 in 2nd qtr
      501 2  -  But demand for new flats sinks to lowest level since late 1990s By Andrea Tan [SINGAPORE] For the first time in almost two years, sales of resale Housing and Development Board flats exceeded 11,000 in the second quarter. But demand
      501 words
    • Article, Illustration
      Lock icon Underground ammo dump frees 300ha for housing
      505 2  -  Planners, developers urged to consider use of underground space By David Boey [SINGAPORE] An underground ammunition dump dug deep under the disused Mandai granite quarry will allow the Defence Ministry to release about 300 ha of land on Singapore's northern shore to the
      JOYCE FANG/ST  -  505 words
    • ON THE grapevine
      • Article
        Lock icon Protest, Indian style
        130 2 WITH lyrics adapted from the Eagles' hit Hotel California, India has taken its protests over the reluctance of Asean to admit it to a regional club into the realm of song. After days of talks on weighty issues, some of the world's top diplomats held an evening
        130 words
      • Article
        Lock icon One too many
        48 2 THE Indian delegates at Hanoi also obviously had fun with this after-dinner limerick: There was an old man of New Delhi Who cried: 'What is this? Asean plus Three?' They replied: 'It's not for you, you slow old babu!' When three's company, four's too many.
        48 words
      • Article
        Lock icon Reports on tap
        102 2 A LITTLE bird told us that in the current Mid-Continent share-rigging trial, some of the lawyers present in court who are holding a watching brief for their clients—not the lawyers actually involved in the trial get paid something like $4,000 a day for their effort. They are
        102 words
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      Lock icon Page 3 Advertisements Column 1
      110 3 (www.hyundai-motor.com) ;r— f <D KOI s *zj) rrn EQSHgZai ;> v v■ V -?vX 1 *A'..- -f i f r ,><<:. >mi mi H| ii^»fliiflihiiiiJiMfßiiniifiiflhfiiiny~ Tii-Bi«riifliiiifi i 'r mw w 7 mH i 1 tT .V You're looking for a car that can deliver the best in performance, reliability and
      110 words
  • SINGAPORE companies
    • Article, Illustration
      Lock icon Singapore has potential to become regional listing hub
      583 3  -  US Conference Board director cites high standards of governance By' Ven Sreenivasan THE Singapore bourse has the capacity to be a magnet for regional corporate listings, given its relatively high standards of corporate governance and compliance standards. But there is still more
      ARTHUR LEE  -  583 words
    • Article
      Lock icon SIA rules out taking control of Air NZ board
      484 3 CEO reiterates S'pore carrier's determination not to sell oat of Air NZ Reuters [WELLINGTON] Singapore Airlines Ltd (SIA) chief executive Cheong Choong Kong yesterday ruled out taking board control of Air New Zealand if his airline wins permission to raise its
      Reuters  -  484 words
    • Article
      Lock icon The next big thing for construction companies
      606 3  -  david boey A COMMON refrain from contractors these days is how fast and how severely demand for civil engineering and construction has dried up because of the recession. Business conditions may be tough, but contractors who want to emerge stronger after this downturn
      606 words
    • COMPANY Briefs
      • Article
        Lock icon L&M plans $8.5m share placement
        66 5 L&M Group Investments is placing out 44.4 million new shares at 19.38 cents each to raise money for working capital. The placement, representing about 20 per cent of the company's issued share capital, is expected to raise about $8.54 million in net proceeds. Kim Eng
        66 words
      • Article
        Lock icon Jurong Engg warns of first-half loss
        70 5 JURONG Engineering yesterday warned of an after-tax loss for the half year ended June 30,2001, owing to the prolonged slowdown and uncertainties in the engineering and construction industry in the region. It added that it has taken steps to rationalise and consolidate its business
        70 words
      • Article
        Lock icon SembCorp Engineers in joint venture
        109 5 SEMBCORP Industries said its wholly-owned subsidiary, SembCorp Engineers and Constructors Pte Ltd, has entered into a joint venture with two Norwegian companies, Pevatec AS and Viking Offshore Marine AS (VOM), to form a new company, Hydra Mac Pte Ltd. The joint-venture company will provide services
        109 words
      • Article
        Lock icon Startech offer 26.7 times subscribed
        58 5 STARTECH Electronics said yesterday that its public offer tranche was 26.7 times subscribed at the close of its application list. There were 1,507 valid applications totalling 45.46 million shares for its 1.3-million-share offer. Its 11.7 million placement shares have been fUlly taken up. It offered
        58 words
      • Article
        Lock icon Cyber Village listing plan gets SGX nod
        65 5 CYBER Village Holdings Limited said yesterday it had received in-principle approval from the SGX to list on Sesdaq. The company is planning to raise $3.4 million which will be used to expand the business. It offers e-business consulting services and solutions. Last December,
        65 words
      • Article
        Lock icon Acma to raise borrowing
        59 5 ACMA Ltd is proposing to increase the amount that it is to borrow via a debenture from a consortium of banks from $123 million to $150 million. In a statement to the Singapore Exchange on Thursday, Acma said it will seek shareholder approval for this at
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      • Article
        Lock icon Allcom placement shares taken up
        41 5 ALLCOM Technologies said all 41.4 million placement shares in its initial public offer have been folly subscribed. The public tranche of 4.6 million shares will close on Monday. The shares were priced at 28 cents each.
        41 words
      • Article
        Lock icon GES offer for Eltech now unconditional
        41 5 GES International's offer for Eltech Electronics has been declared unconditional as GES now owns 50.36 per cent of Eltech's total issued shares. GES* bankers, BNP Paribas Peregrine, said the offer will close on August 13.
        41 words
    • Article, Illustration
      Lock icon CityDev to raise Changi Rise condo prices
      619 5  -  But NTUC Choice Homes and OUB Centre are slashing prices of their Simei projects By Andrea Tan JUST as City Developments (CityDev) is gearing up to raise prices at its Changi Rise condominium in the Simei area this weekend, its competitors NTUC Choice
      FILE PHOTO  -  619 words
    • Article
      Lock icon SCS net up 6.4%; revenue soars 50.3%
      190 5 Reuters NETWORKING systems integrator Singapore Computer Systems Ltd (SCS) said yesterday that its net profit for the six months to June 30 rose 6.4 per cent to $7.46 million, reflecting strong growth in its outsourcing and networking divisions. Its revenue jumped 50.3 per
      Reuters  -  190 words
    • Article
      Lock icon SingTel seen posting flat to lower earnings
      487 5 Poll sees its April-Jane quarter profit at between $507 m and $562 m Reuters SINGAPORE Telecommunications Ltd is seen posting flat to lower earnings for the April-June quarter on Tuesday, hit by plummeting international traffic revenues and slowing cellular subscriber growth, analysts said.
      Reuters  -  487 words
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  • SINGAPORE markets
    • Article
      Lock icon Untitled
      321 4 Stocks Volume Golden Agri USIOc 31,868,000 FuYuMfglOc 13,891,000 LankomUS2c 13,669,000 AEM-Evertech 5c 10,075,000 SingTel 15c 9,872,000 Asia Food&Prop 9,608,000 Frontline 5c 8,776,000 Beyonics 10c 8,417,000 Enzer 7,993,000 Wizoffice 5c 7,618,000 Stocks DBSGrp 18,970,940 SingTel 15c 17,926,400 Datacraft 10c 16,204,017 Chart Semiconductor 26c 16,061,090 DBS Bk 6% NCPS10 13,482,340 OUB 13,443,750
      321 words
    • Article, Illustration
      Lock icon Another forgettable day as prices drift in low volumes
      583 4  -  I i I comment STOCKS r. sivanithy Trading in the local stock market yesterday was as enjoyable as spending a weekend with the proverbial in-laws taxing, frustrating and entirely forgettable. Amid a grim overseas environment, even the most optimistic players found
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    • Article, Illustration
      Lock icon Eastgate wrt worth looking at
      182 4  -  WARRANT WATCH By R Sivanithy MOST penny stocks and warrants have been suffering badly because of the market's poor liquidity and this is despite the fact that most cost less than 10 cents now. But there's one which isn't doing that badly, at least not
      182 words
    • Article, Illustration
      Lock icon Golden Agri: oversold, but still weak
      235 4  -  HOT STOCK By Ven Sreenivasan SHARES of Indonesian palm oil plantation giant Golden Agri-Resources hit the skids yesterday as soon as a trading suspension was lifted. The stock shed 3.5 cents to finish at 11 cents, close to the lower end of its trading
      235 words
    • Article, Illustration
      Lock icon All eyes on Japanese Upper House elections
      559 4  -  ■■■■■■■UhbihU CURRENCIES S$ holds gains against greenback through Ssl.Bo, as yen treads water larry wee WEEKEND profit-squaring ahead of Q2 US GDP numbers and Japan's Upper House elections found markets trading in narrower-than-usual ranges yesterday, but one notable development was the Singapore dollar's
      Source: Reuters  -  559 words
  • Article
    Lock icon UNIT TRUSTS & FUNDS
    2939 4 UNIT TRUSTS FUNDS Ab«rd««n Mwt Mgt Asia Ltd Aberdeen Select Portfolio: China Opportunities Fd 0.934 0.981 Global MNCFd 0.697 0.733 Global Technology Fd!** 0.558 0.587 UK Blue Chip Fd!** 0.707 0.744 American Opport Fd 0.797 0.838 Cont Euro Eqty Fd!** 0.979 1.029 Japan EqtyFd!** 1.129 1.186 Asian Fixed Income Fd
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  • Article
    Lock icon BT SHARE information service
    4551 5 Nat Mm EM LCD* 6-Mer I 4.4*9 2.633 0.64 OM Oat* TY 1Y TV LV LnHm 23-Mar P 1.134 4.485 109 4J3 CNMMV MM (Sari <$m) <et»> (ct») leong Mn 21-Mar P 3.6651 1.8451 2.61 141 1r r J—*-*— LMT HMga 29-Mar P 0.784 1047 049
    4,551 words
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  • SINGAPORE news
    • Article, Illustration
      Lock icon Newfinn registrations down 27% in Q2
      278 6  -  EYE 11 j »T 41 1M iTM By Serena Ng IN line with the slowing economy this year, the number of new registered companies fell significantly in the first two quarters compared with the same period in 2000. Latest figures from the Registry of
      Source: Registrar of Companies and Businesses  -  278 words
    • Article, Illustration
      Lock icon Sept auction for fixed wireless spectrum rights
      471 6  -  IDA revises payment for 26 spectrum rights to yearly instalments over 7 years By Teh Hooi Ling THE Infocomm Development Authority of Singapore (IDA) will auction the spectrum for fixed wireless networks in late September. It has also revised the payment structure for
      FILE PHOTO  -  471 words
    • Article
      Lock icon 5 Asian hotel groups form marketing tie-up
      226 6  -  Asian Hotels Alliance takes after airline groupings By Lim Wei Chean FIVE Asian hotel groups have got together to form an alliance similar to those in the airline industry. The Asian Hotels Alliance (AHA) formed by Meritus Hotels and Resorts, Dusit Hotels and
      226 words
    • Article
      Lock icon Industrial land values fall 4.7% in Q2
      639 6  -  PROPERTY FOCUS A mini price war and an increase in leasehold projects cited for the drop By Vince Chong INDUSTRIAL land values fell 4.7 per cent in the second quarter the likely result of a mini price war in the private sector. This
      639 words
    • Article
      Lock icon NTUC FairPrice turnover rises 7.8% to top $1b
      356 6  -  Bnt profit slips for first time in 10 years as $4m discounts are given back to shoppers By Bryan Lee NTUC Fair Price managed a 7.8 per cent rise in turnover to $1.08 billion for the year ended March 31, though profit
      356 words
    • Article
      Lock icon CBRE bags deal on ExxonMobil kiosk properties
      373 6  -  The contract covers over 3,000 stations across 8 Asia-Pac countries By Kalpana Rashiwala CB Richard Ellis has bagged a deal with oil giant ExxonMobil to provide real estate management services for more than 3,000 petrol stations in eight Asia-Pacific countries, as well as
      373 words
    • Article
      Lock icon S'pore needs 4th university: progress report
      578 7  -  It shouldn't be only for poly grads; must add value to individual, economy By Rachel Ong SINGAPORE needs a fourth university and it should not just be for poly graduates to upgrade themselves, the Committee to Review Upgrading Opportunities at Degree Level said yesterday.
      578 words
    • Article
      Lock icon Tap China, India opportunities, BG Yeo urges SMEs
      436 7  -  Minister launches partner Singapore to help build links with foreign SMEs By Eugene Low MORE small and medium enterprises should expand overseas, especially into the Chinese and Indian markets, Trade and Industry Minister George Yeo said yesterday. "The booming China market, in
      436 words
    • Article
      Lock icon Logical to merge TDB and PSB
      235 6  -  Zubin Kabraji Mumbai, India via Internet I REFER to your article "TDB, PSB said to be merging" by Chuang Peck Ming (BT, July 20). The speculated merger of the PSB (Productivity Standards Board) and TDB (Trade Development Board) is, in all respects, a logical
      235 words
    • Article
      Lock icon OUB takeover story yet to run its course
      129 6  -  Chew Keng Seng Singapore I REFER to your articles "DBS sticks to original OUB offer for now" and "UOB will show some growth: chairman" (BT, July 21). OUB's share price presently suggests the offers by DBS and UOB are not attractive enough.
      129 words
    • Article
      Lock icon S'pore needs own growth engines
      251 6  -  MAIL bag Vincent Tan Chee Kian Singapore I REFER to the letter "This downturn is structural" by Kwek Sing Cher (Mailbag, July 24). I share his views that Singapore is in for a structural downturn. With China sucking up most of the investments and waning
      251 words
    • Article
      Lock icon Thanks far that good service to readers
      166 6  -  Heng Aik Yeow Singapore, I REFER to your article "Good service redefined" by R Sivanithy (Hock Lock Siew, BT, July 25). I would like to commend your article in exposing the poor service and pitfalls awaiting naive, uninformed investors. Even with an accounting
      166 words
    • Article
      Lock icon Koh Yong Guan to head CPF Board
      157 6 PERMANENT Secretary for National Development Koh Yong Guan has been appointed chairman of the CPF Board. Taking over from Ngiam Tong Dow, Mr Koh will be chairman for a threeyear term from Aug 1. Mr Koh, a Colombo Plan scholar, has held various
      157 words
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      67 6 We welcome letters. E-mail us at btletterQsph.com.sg or fax us at *****71, or write to: The Business Times, Times House, 390 Kim Seng Road, Singapore *****5. 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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      1568 7 \a; tl n Westdeutsche Landesbank Girozentrale V VGS LLD (Incorporated in Federal Republic of Germany) Group Balance Sheet as at December 31,2000 Group Statement of Income for the Year Ended December 31,2000 Assets Liabilities 31.12.2000 31.12.1999 31.12.2000 31.12.1999 31.12.2000 31.12.1999 Euro Euro Euro Euro thousands Euro Euro Euro Euro thousands
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  • FINANCE
    • Article
      Lock icon Futures dip in quiet trading
      265 8  -  STtadtg^NSGlS^inbdn C K Lau Refco Singapore SINGAPORE shares yesterday ended marginally higher after spending the whole day hovering around Thursday's closing level. The benchmark Straits Times Index gained a mere 1.04 points, or 0.06 per cent, to close at 1,640.40 as 26 counters rose, 15
      265 words
    • Article
      Lock icon Futures edge up as stocks rise further
      247 8  -  MSCI Taiwan Index Daniel Wong Refco Singapore TAIWAN stocks yesterday continued to rise on speculation that government funds bought shares to shore up investor confidence. The MSCI Taiwan Stock Index added 1.98 points, or one per cent, to close at 202.2, with the
      247 words
    • Article
      Lock icon CURRENCY REPORT
      235 8 London Reuters THE US dollar was steady against the euro and the yen yesterday ahead of the release of US GDP data. The greenback held about half a per cent above recent two-month lows against the euro and was expected to recover further if the GDP data, due
      Reuters  -  235 words
    • Article, Illustration
      Lock icon Untitled
      1269 8 iI.lJwW >>>lw»lilli >iriw» W>IWWW»I in 111 I III! im WHWK II I H H HI) i iH HHH liHlII Willi I —iiw I I—If IP II WI—WMWI il—lliWMBWWaWPWPaWWWWPWW—W————■<MIWP—WIIWIW'PIIIIWWI— DITERBAint CROSS RATES Jul27 A$ C$ Rrob Euro Ffr Dm HKS Ind Rs KiylH Yen Wow IM W2$ Pafc ft Peso S$
      1,269 words
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  • REGIONAL news
    • Article
      Lock icon MMC: Tanjung Pelepas deal off as there was no Maersk nod
      418 8  -  Malaysian Mining still keen; consent needed from Maersk to waive its right to vendor's stake Frorn Eddie Toh in Kuala Lumpur MALAYSIA Mining Corporation (MMC) has failed to acquire a majority stake in the booming Port of Tanjung Pelepas
      418 words
    • Article
      Lock icon China opens up A-share trading
      347 8 HONGKONG Foreign brokers may be given licences for A-share trading Reuters CHINA is opening up its vast yuan-denominated stock market, issuing a licence to an overseas brokerage to trade shares for the first time and more are set to follow. Hong Kong-incorporated BOC International Holdings
      Reuters  -  347 words
    • Article, Illustration
      Lock icon Thai financier wins UK extradition battle
      375 8 LONDON Thai authorities blame Fin One chief Pin for the collapse of the baht in 1997 Reuters A BANGKOK financier blamed by the Thai authorities for the collapse of the baht currency in 1997 won his fight against extradition from Britain yesterday. In March,
      Reuters; REUTERS  -  375 words
    • LATE Briefs
      • Article
        Lock icon Talk of sweeter UEM bid rejected
        74 8 AP [KUALA LUMPUR] The Malaysian government yesterday refused to sweeten a bid to take over construction giant United Engineers Malaysia, the first step in taking control of debt-ridden Renong. The investment vehicle spearheading the takeover, Syarikat Danasaham, issued a statement rejecting market speculation that
        AP  -  74 words
      • Article
        Lock icon Arroyo's husband's case for ombudsman
        81 8 Reuters [MANILA] Philippine President Gloria Arroyo yesterday said the government ombudsman will investigate charges that her husband took 50 million pesos (Ssl.7 million) in bribes to resurrect a telecommunications franchise deal. "My husband has denied this," Ms Arroyo told a news conference. "Just the same,
        Reuters  -  81 words
      • Article
        Lock icon Taiwan leading index up after 16 months
        79 8 Reuters [TAIPEI] Taiwan's Council for Economic Planning and Development yesterday said the island's index of leading indicators rose for the first time in June after a 16-month slide, a sign that the sluggish economy might recover later this year. The agency said the
        Reuters  -  79 words
    • Article
      Lock icon Bangkok moves to bust offshore stock scam
      518 9  -  Hunt on for operators of 21 illegal foreign brokerages responsible for losses of 6.9b baht From Harish Mehta in Bangkok THAI authorities yesterday launched a hunt for the operators of 21 illegal foreign brokerages, in a bid to bust the nation's biggest offshore
      518 words
    • Article, Illustration
      Lock icon Why Malaysia's universities need reinvigoration
      1001 9  -  WRITER'S JOURNAL karim raslan I AM perplexed by the current unpopularity of Malaysian students. They've been accused of a hundred and one crimes: ranging from devil worship through to arson. Given their innocuousness, timidity and stultifying conservatism, I'm amazed by the outrage. Lest we forget,
      1,001 words
    • Article, Illustration
      Lock icon Cabinet to be named next week: Megawati aide
      376 9 JAKARTA Reuters, Bloomberg INDONESIA'S new president left Jakarta yesterday for the provinces, leaving the critical task of forming a coalition Cabinet hanging and reinforcing perceptions that she will not be a hands-on leader. Since being appointed president on Monday, Megawati Sukarnoputri has
      Reuters,; Bloomberg  -  376 words
    • Article
      Lock icon HK woos bigger firms to boost confidence in second board
      561 10 HONG KONG Easier now for them to list; tougher terms for smaller firms Reuters AIMING to build confidence in the Hong Kong stock exchange's ailing second board, regulators unveiled new rules yesterday that make it easier for larger companies to
      Reuters  -  561 words
    • Article
      Lock icon Stanchart, Bank of China to list in HK, says report
      244 10 Stanchart debut in Oct; Bank of China's early next year AFP TWO of Hong Kong's three note-issuing banks, Standard Chartered Bank and Bank of China, are expected to make their debuts on the Hong Kong stock market in October and
      AFP  -  244 words
    • Article, Illustration
      Lock icon Nina Wang debuts as comic book star
      205 10 AFP [HONG KONG] A Hong Kong tycoon has commissioned a comic book, with herself as the star, which was featured among attractions at the territory's annual comic festival yesterday. Nina Wang, the flamboyant head of Hong Kong's leading private property developer Chinachem Group
      AFP; REUTERS  -  205 words
    • ASIA Notes
      • Article
        Lock icon China regulator punishes 4 banks
        41 10 AFP [SHANGHAI] China's central bank has punished four banks in the north-east Chinese city of Shenyang for illegally funnelling 510 million yuan (*****.6 million) into the country's stock markets, the China Securities News said yesterday. —AFP
        AFP  -  41 words
      • Article
        Lock icon Taiwan seeks review of S&P downgrade
        56 10 Reuters (T Air El] Taiwan said yesterday Standard Poor s downgrade of the island's ratings was based on incorrect figures and sought a reassessment, but markets shrugged off the news as no surprise. The international ratings agency downgraded its long-term issuer credit ratings on
        Reuters  -  56 words
      • Article
        Lock icon Hutchison may take further provision
        45 10 Reuters [HONG KONG] Conglomerate Hutchison Whampoa Ltd is "highly likely" to take a farther provision on its interim results against the decline in value of shares in British mobile phone giant Vodafone Group pic, Hutchison chairman Li Ka-shing told reporters.
        Reuters  -  45 words
      • Article
        Lock icon India probes 94 firms over stocks crash
        44 10 AFX [BOMBA Y1 The government's department of company affairs will scrutinise the account books of 94 companies as part of its inquiry into the circumstances that led to the recent stock market crash, a government statement said.—AFX
        AFX  -  44 words
      • Article
        Lock icon Enron wants to sell Dabhol stake: report
        63 10 Bloomberg [LONDON] Enron Corp, the largest energy trader, wants to sell its stake in a US$2.9 billion (555.2 billion) Indian power project to the country's government, the Financial Times said, citing Enron chairman Ken Lay. GE Capital and Bechtel, Enron's partners in the
        Bloomberg  -  63 words
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  • Article
    Lock icon COMMODITIES
    1949 9 SICOM FUTURES Jul 27 RUBBER (futures closing as at 5.30pm) RSS1 CONTRACT(S cents/kg) Close Volume Open Month Hlqh Low Sett (tonnes) Interest Auq 01 106.75 Sep 01 106.75 Oct 01 108.75 Nov 01 109.75 RSS 3 CONTRACT (US centsAg) VohMM Open Month High Low Sett (tonnes) Interest Aug 01
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  • Article
    Lock icon STOCKS asia
    7499 10 HONG KONG vol Ju[27 HKS COOP) AcrossAsia Multimedia 2.03 -0.02 372 Alpha General 0.04 unch 9250 Amoy Prop 8.85 -0.10 1349 AnandaWingOn 0.14 unch ***** Anqanq New Steel H 1.18 0.01 ***** Anhui Conch H 1.89 0.04 6267 Anhui Expressway H 1.41 unch 3168 Arcontech Corp 1.30 unch
    7,499 words
  • Page 10 Advertisements
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      Lock icon Page 10 Advertisements Column 1
      522 10 AUCTION SALE Mr. Pierre A. de Chasteigner du Mee, sworn broker, will sell by public auction in accordance with article 2088 and following of the Civil Code of the Republic of Mauritius the two shares held by Asia Pulp Paper Company (China) Pte. Ltd. in AUP Enterprise Finance Ltd., representing
      522 words
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      Lock icon Page 10 Advertisements Column 2
      478 10 In the matter of The Companies Act, Cap. 50 And In the Matter of P C INTERNATIONAL MARKETING PTE LTD (In Voluntary Liquidation) MEMBERS' VOLUNTARY WINDING-UP At an Extraordinary General Meeting of the members of the abovenamed Company duly convened and held on 3rd day of July 2001 the following
      478 words
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      Lock icon Page 10 Advertisements Column 3
      323 10 WEIDENMANN SINGAPORE PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50 that o Final Meeting of the Members of the abovenamed company will be held at 7500 A Beach Road #16-322 The Plaza Singapore *****1
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      145 11 INDONESIA Furniture Handicraft GllfG YOU PI IDMITI IDE are essent,al f° r your 1 rUKINIIIUKt home. Indonesian 8c HANDICRAFT producers offer the IH Cl H 121 latest and a variety of HI I ic furniture and handicraft f products, according to your needs. In this exhibition, we /^f r A
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  • WORLD news
    • Article
      Lock icon Moody's lowers Argentina's credit ratings again
      374 11 BEUNOS AIRES Bloomberg ARGENTINA'S credit ratings were lowered for a second time this month by Moody's Investors Service on concern the country won't be able to erase its Budget deficit to help ensure debt payments. Moody's reduced Argentina's foreign and local currency debt ratings
      Bloomberg  -  374 words
    • LATE Briefs
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        Lock icon US consumer confidence dips in July
        87 11 Reuters (NEW YORK] A key measure of US consumer confidence dipped in July as Americans said their current financial picture deteriorated, faced by a steady drumbeat of corporate layoffs and a flat stock market, market sources said a report showed yesterday. The University of
        Reuters  -  87 words
      • Article
        Lock icon US new home sales up in June
        63 11 Reuters [WASHINGTON] Sales of new US single-family homes rose in June, the government said yesterday. New home sales climbed to a seasonally adjusted annual rate of 922,000 in June, a 1.7 per cent increase from the revised May rate 0f907,000. The sale of
        Reuters  -  63 words
      • Article
        Lock icon Euro-zone posts trade surplus in May
        82 11 AFP [BRUSSELS] The 12-nation euro-zone posted a trade surplus of 1.7 billion euros (552.7 billion) in May, the European statistics institute Eurostat said yesterday. However, the 15-member European Union showed a trade deficit of 6.3 billion euros in May, Eurostat said. For the first
        AFP  -  82 words
      • Article
        Lock icon Nestle gets nod for Ralston purchase
        76 11 Bloomberg [BRUSSELS] Nestle SA, the world's biggest foodmaker, has received European anti-trust approval for its US$ll.9 billion purchase of Ralston Purina Co after agreeing to give up dog and cat food brands in three European states. To win approval for the takeover that will
        Bloomberg  -  76 words
    • Article, Illustration
      Lock icon UK euro referendum dates ready?
      464 11 LONDON Downing Street plays down FT report; Treasury calls it'fabrication' Reuters AFP, Bloomberg BRITISH Prime Minister Tony Blair and finance minister Gordon Brown favour a referendum on whether to adopt the euro in autumn 2002, with the second choice in spring 2003, the Financial Times
      Reuters; AFP,; Bloomberg; FILE PHOTO  -  464 words
    • Article
      Lock icon Japan's CPI down for 21st month in a row
      207 11 TOKYO Reuters JAPAN'S consumer prices slipped for the 21st straight month in June, the government said yesterday, providing yet another reminder that deflationary pressures still plague the economy. The nationwide core consumer price index (CPI), excluding volatile fresh food prices, dropped
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    • Article
      Lock icon JDS Uniphase reports US$50.6b annual loss
      628 12 EARNINGS WRAP Amount is probably North America's biggest corporate loss; no improvement expected Reuters [TORONTO] JDS Uniphase Corp said on Thursday that sagging sales and massive write-downs led to a US$5O.6 billion annual loss, probably the largest in North American corporate history, and announced
      Reuters  -  628 words
    • Article
      Lock icon Fujitsu to slash jobs after posting 55.4b yen loss
      404 12 TOKYO AFP JAPAN'S leading computer maker Fujitsu Ltd said yesterday it would cut thousands of jobs worldwide and plunge heavily into the red this fiscal year after posting a June quarter loss. The company also said it may stop semiconductor production
      AFP  -  404 words
    • Article
      Lock icon VeriSign's Q2 loss widens to US$11b on acquisition costs
      371 12 MOUNTAIN VIEW, California Bloomberg VERISIGN Inc, a computer-security software maker that manages a database of Internet-site addresses, reported a wider second-quarter loss on US$9.9 billion in acquisition costs. Sales more than tripled. The second-quarter loss widened to US$ll.2 billion, or U5555.49
      Bloomberg  -  371 words
    • OTHER Results
      • Article
        Lock icon Steep fall in profits at Nomura, Daiwa
        88 12 Bloomberg (TOKYO] Nomura Securities Co and Daiwa Securities Group, Japan's No 1 and No 2 brokerages, said profit fell four-fifths, as the benchmark index slumped to a 16-year low. Daiwa's first quarter profit fell 83 per cent on the year to 5 billion
        Bloomberg  -  88 words
      • Article
        Lock icon Silicon Graphics meets lowered targets
        119 12 Reuters [MOUNTAIN VIEW, California] Network computer maker Silicon Graphics announced fourth quarter results in line with lowered targets and said it was slimming down the company after orders failed to meet expectations. The operating loss for the firm was US$69 million for the quarter ended
        Reuters  -  119 words
      • Article
        Lock icon NEC to cut jobs after 72% profit fall
        111 12 AFP [TOKYO] Japan's NEC Corp slashed its profit forecast for the six months to September and warned of global job cuts after posting a 72 per cent fell in net profit to 800 million yen (5511.6 million) in the three months to
        AFP  -  111 words
      • Article
        Lock icon Volkswagen H1 earnings up 16%
        62 12 Reuters [FRANKFURT] Europe's biggest carmaker Volkswagen AG yesterday said first half pre-tax profit rose 16 per cent from a year ago to 1.5 billion euros (552.4 billion) according to German HGB accounting standards. That implies a second quarter pre-tax profit 0f827 million euros which is
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      • Article
        Lock icon Qualcomm Q3 profit down 20%
        85 12 Reuters [CHICAGO] Wireless technology company Qualcomm on Thursday reported its fiscal third quarter earnings fell 20 per cent due to soft demand for the company's chips as a weaker global economy and lower royalties and licensing fees weighed on results. The firm also slightly trimmed
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      • Article
        Lock icon Lloyds H1 earnings rise 9%
        64 12 Reuters [LONDON] Lloyds TSB yesterday said first half profits, excluding exceptionals, were up 9 per cent. Profits on a "business as usual" basis In the half year were £2.24 billion (555.7 billion), up from £2.05 billion, excluding a £329 million charge for fluctuations in investment
        Reuters  -  64 words
      • Article
        Lock icon Cable networks boost Viacom net
        85 12 Bloomberg [NEW YORK] Viacom Inc, the third largest media company, had a profit in the second quarter on higher sales at its cable networks. The owner erf the CBS television network trimmed its 2001 financial forecast less than some analysts expected. Net income was US$l6.7
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  • Article
    Lock icon SGX clob
    2320 12 BONDS WARRANTS 7 «t Mi L_. M In mmm *»l ImmtUm tar Hk Z. nni N* u. M» Mi MUW <*» L— Ciinun 50 2 127 29 5 27.5 28 29 27 26.4 1 16 11 1.40 35 39.5 26 ASTIW*****1 Z 2 U 3 17.6 1 100
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  • e News
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      Lock icon Privacy advocates fight Microsoft's Passport system
      365 13 WASHINGTON Personal-data storage subject of complaint Reuters PRIVACY advocates asked the US government on Thursday to investigate Microsoft's new operating system and its Internet identity service, claiming they coerce users into revealing sensitive personal information with little control over how it will be used.
      Reuters  -  365 words
  • Article
    Lock icon STOCKS sgx
    7911 13 SGXMAIHBOARP Cr Cr MM S2-Wk Urt Va( Day UrtQwtt Mv Mv VM Mt Cjp Aw» Wok 1— Company 5«. W- WW IW U. >wr C* 2S SS Ww MULTI-INDUSTRY 143 35 C AonaSOc 41 +1 279 41 40 41 415 0.5 19.9 0.6 10.8 71.1 41 41 8
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  • BT motoring
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      Lock icon Terminal ferocity
      863 14  -  Porsche's latest 911 is more than a pretty make-over, says ronnxe um RONNIE LIM The writer is BT's Foreign Editor. He was in Germany to drive the revamped 911 earlier this month. PORSCHE spice that's how I'd describe the latest, toned-up (read more muscular) 911. The car is
      863 words
    • Article, Illustration
      Lock icon Sharp dresser, sharper mover
      677 14  -  Audi's new A 4 has taken on Gillette-like qualities. But like most razors, it's a doable-edged thing By Christopher Tan GOOD intentions are occasionally misread. For years, I've dismissed Audi's penchant for anvil-weighted doors as overly macho and totally unnecessary. Only Canadian lumberjacks and East German
      677 words
    • Article, Illustration
      Lock icon Missing Jag features more than cosmetic
      213 14  -  Tan Huang Meng Singapore I REFER to your article "A Jaguar for less than $200,000" (Motoring, July 14). It implied that the same Jaguar, except for minor cosmetic differences, has its price reduced from $250,000 to below $200,000. This is inaccurate as this $199,000
      FILE PHOTO  -  213 words
    • Article
      Lock icon Govt should act and make petrol cheaper for people
      85 14  -  Peter Koh Singapore I REFER to "Significant petrol price cuts needed" (Wheel Matters, July 14). What is needed is not a "peanut" price war waged by the oil companies but a government reduction of the ad valorem tax and the abolishment
      85 words
    • BUMPER to BUMPER
      • Article
        Lock icon Champion Motors opens new showroom
        91 14 SUZUKI distributor Champion Motors yesterday opened a new showroom at Automobile Megamart in Übi—its first foray out of the Pandan Crescent main facility. Champion took the opportunity to unveil the Liana "monospace" vehicle. Starting at $71,950 for the 1.3-litre manual, it is in the same
        91 words
      • Article
        Lock icon A milestone for Audi TT Coupe
        128 14 ASSEMBLY of the first Audi TT Coupe began at the Gyor plant in Hungary in April 1996. Today, the 100,000 th of this successful sports car rolled off the line. The third quarter 0f1999 saw the addition of the Roadster, of which over 45,000
        128 words
      • Article, Illustration
        Lock icon Mini launch extended
        51 14 PERFORMANCE Motors is extending its Mini launch to this weekend at its showroom at 896 Dunearn Road. Planet Mini, as the programme is called, brings the history of the Mini to the masses. Radio DJs Jamie Yeo, Rod Monteiro and Vernetta Lopez (right) will be there to
        51 words
      • Article
        Lock icon US to probe Continental tyres
        208 14 AMERICAN safety regulators are opening a new investigation into 2.7 million tyres made by Continental's North American subsidiary and designated by Ford as replacements for Firestone tyres. But the Transportation Department said it had found no problems with any of the other models recommended by
        208 words
      • Article
        Lock icon Saab wins innovation award
        80 14  -  Compiled by Christopher Tan SAAB was presented with the 2001 Discover Magazine Innovation Award for transportation for its work on the Saab Combustion Control engine concept. This environmentally friendlier system cuts carbon dioxide, hydrocarbon and nitrogen oxide emissions, while reducing ftiel consumption by up to 10
        80 words
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      94 14 r I If you have something SlO 0 worth of i motor-related to get off vouchers. Prizes are i your chest, write to us. A/r-> pi j sponsored by We welcome feedback i STAMFORD TYRES. and suggestions from 1 C3i tr f Singapore's only I readers. listed tyre and auto
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  • BIZ woman
    • Article, Illustration
      Lock icon Love takes a bow
      641 15  -  And it comes with strings attached for SSO's Lynette Seah who has found her new Voice' in an 18th century violin, tan hweb bweb tunes in TAN HWEE HWEE TONIGHT, Lynette Seah, the Singapore Symphony Orchestra's veteran violinist, will show off her new "voice" for the
      ARTHUR LEE  -  641 words
  • THE arts
    • Article, Illustration
      Lock icon Expressions of humanity
      266 15  -  By Cheah Ui-Hoon THE material they use might be solidly earthy, man-made matter synthetic resin but their works inspire a higher sense of humanity and consciousness. Three artists Chng Seok Tin, 55, Lee Mei Ling, 35, and Chua Boon Kee, 48 in a group exhibition for Ice-Sin-gapore
      266 words
    • Article
      Lock icon THE PROGRAMME
      378 15  -  Compiled by Aaron Lye MUSIC Singapore Chinese Orchestra Community Series Conceit The SCO takes the arts scene to the heartland in its ongoing community outdoor concerts, performing Chinese classics, including Spring Rain, Die Lian Hua and Lan Hua Cao 6pm, Kolam Ayer Community Centre (Aug 4) and Botanic
      378 words
    • Article, Illustration
      Lock icon A quality performance in Nezha
      387 15  -  By Aaron Lye NO one would mistake The Finger Players' Nezha for a high-profile, high-budget production but one doubtsthat anyone who saw the show would have left the Drama Centre with anything other than awe and respect. The performance, staged over three days last weekend,
      387 words
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      6 15 Ticket hotlines Sistic: 348-5555 Ticketcharge: 296-2929
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      171 15 |m m i— ——i|^m_^m_M^hri W fc^WSIOOO.^^-u* o) be registered wfch the RCB an a limited or private timitod oofflpcny. ((or exempt private limited companies, only those voiuntoriy submit iw audited financial statements, or \Avm Financials art available from the RCB, wil be included in #te ranking exercise) I c) have
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  • Page 15 Miscellaneous
    • Miscellaneous
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      290 15 CRYPTIC CROSSWORD ACROSS 5 He's cruel maybe, but undoubt--1 What footwear's made of, and ©dty a hero (8) hose the real creation (4-7) 6 Entangle a writer of music (5) 9 A mountain tam? (4,5) 7 Get fresh about the French an--10 One cuts a little beast, and that's swer
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  • EXECUTIVE Arts
    • Article, Illustration
      Lock icon Staging of a
      1389 16  -  Behind the theatrical spectacle that is Miss Saigon lies a poignant tale of love which has been enthralling audiences for more than 10 years, parvathi nayar makes its acquaintance PARVATHI NAYAR THE Kallang stage is getting fitted for Miss Saigon, and the controlled mayhem is a show
      PHOTOS BY CHRIS LOH  -  1,389 words
    • Article, Illustration
      Lock icon On the threshold of new vision
      536 16  -  With a permanent home, S'pore Chinese Orchestra is setting its sights on getting bigger and better By Cheah Ui-Hoon THERE'S nothing like having a permanent home to inject even more vigour and vision into a performing group. The Singapore Chinese Orchestra (SCO), which opens
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    • Article, Illustration
      Lock icon Turning up the heat with Yglesias
      150 16  -  By Tan Hwee Hwee Manolo Yglesias, one of the world's top flamenco guitarists, returns to Singapore on Tuesday for a sizzling concert, Flamenco Passion. Playing to full houses the last time he was here, Yglesias will perform with dancers Jesus Romeu, Silvia Marquez and
      150 words