The Business Times, 11 August 2001

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Total Pages: 16
1 16 The Business Times
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  • Title Section
    Lock icon Masthead
    23 1 THE BUSINESS TIMES AfITA (P) 107/03/2001 Internet. !iiip://business-times.asia 1 .com.sg/ S I.N G A P O R E SATURDAY, AUGUST 11, 2001 85c
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  • Article
    Lock icon MARKET SUMMARY
    72 1 □m M4L43 (-0.48) U miA (+7.92) n 9T IXDEX nmntES mm mslm (-11.00) nsDHxnmnß Wm WM (-0.90) r T 9T0C1MAIIET INDICES Friday Change KLSECOMP M&M -i« NIKKEI 11,7*01 11M HANG8ENG 11,7*81 +4*M SET INDEX ***** -490 JAKABXACOMP—.436.67 +AM MANILA 00MP _L»tfl +1688 TABsawpi i47tii— SEOUL COMP 666J4 +6J7
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  • Article
    Lock icon FINANCE
    73 1 FOBEX BATES US» 89 TBS (8S per CSS) L7M £(l'SS/SS per 1.121 UN EURO(US$/SS/E) 8JW LM8 DM till 1147 YEN 11U mm KM 180® MM HKS 7.800 1441 BABT 4416 217« BDPIAH 9,149 1209 PUE BATES SINGAPORE* 588 KUALA LUMPUR 7.17 JAKARTA 39.06 BANGKOK 9.36 MANILA 1100 Z&2 TOK*>_„„.
    73 words
  • Article
    Lock icon DBS concedes defeat, lets OUB offer lapse
    604 1  -  It secures acceptance rate of just L 2%; UOB poised to clinch 90% pins approval By. Angela Tan [SINGAPORE] DBS yesterday conceded defeat in the battle for Overseas Union Bank, allowing its takeover offer to lapse after an embarrassing acceptance rate of 1.2
    604 words
  • Article
    Lock icon Tentative signs of economy hitting bottom: MTI
    852 1  -  But economy will see further contraction in current third quarter: lITI By, Anna Teo [SINGAPORE] The Singapore economy will see another quarter of contraction in the current Q3, but there are tentative signs both at home and abroad that the downturn is hitting
    852 words
  • Article
    Lock icon Preparing far dawn while it's dark
    823 1  -  OOMMHMTART New opportunities will be available when the recovery comes, says Ukrtm Vikram Khanna ITS always darkest before dawn, the Ministry of Trade and Industry's chief economist Tan Kong Yam noted at a briefing on the economy yesterday. Unfortunately, as of now, there's no
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  • Article, Illustration
    Lock icon SGX suspends trading in NOL on CEO's remark
    530 1  -  Byi Conrad Raj [SINGAPORE] In what is believed to be an unprecedented action, the Singapore Exchange yesterday suspended trading in Neptune Orient Lines after its chief executive made material comments to a select group that the exchange believes had not been made
    530 words
  • Article
    Lock icon Inno-Pac adds to board in surprise move
    568 1  -  -idexclusive Sources say appointment of additional directors may have breached injunction By\ Serena Ng [SINGAPORE] Inno-Pacific yesterday announced the appointment of three new directors, despite a court injunction restraining the company's new board from acting outside of "routine business", which BT understands excludes
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  • NEXT page
    • ON THE grapevine
      • Article
        Lock icon Arranged marriage
        47 2 AT OUB's extraordinary general meeting on Wednesday, one of the bank's senior managers was overheard telling shareholders that the impending UOB-OUB merger was not a marriage: "Typically, a marriage in Singapore is between two happy people, wouldn't you agree? This one, we have no choice."
        47 words
      • Article
        Lock icon Worth its weight in Gold, Man
        55 2 WITH so much hoopla surrounding the now infamous Europe roadshow document that Goldman Sachs prepared for DBS' takeover of OUB, BT reporters have received several ferventTequests for a copy of the document. Apparently, it has become quite a collector's item—along with the calling cards
        55 words
      • Article
        Lock icon A most unlikely leading indicator
        113 2 THE Ministry of Trade and Industry has an in-house "leading indicator" of the economy that no one knew about until yesterday. At a media briefing for the second-quarter economic survey report, MTI chief economist Tan Kong Yam referred to some printed material handed out to
        113 words
    • Article
      Lock icon Creative's top brass take voluntary 10-20% pay cut
      561 2  -  Group suffers worse-than-expected USsl3om full-year loss By Serena Ng [SINGAPORE] Creative Technology's top brass has taken a 10 to 20 per cent pay cut a decision made yesterday when the soundcard giant posted a bigger-than-expected fourth-quarter and full-year loss. The move isn't
      561 words
    • Article, Illustration
      Lock icon Koizumi wins LDP president post for further 2 years
      725 2  -  But victory comes amid fresh signs of weakening economy From Anthony Rowley in Tokyo JAPANESE Prime Minister Junichiro Koizumi won a further two years in office as president of the controlling Liberal Democratic Party yesterday. But the boost that this and
      725 words
    • Article
      Lock icon Curious blend brings era of Meganomics
      1080 2  -  Suharto economics, Snkarnoist nationalism in Mega's 'Gotong Royong' Cabinet From Yang Razali Kassim in Jakarta THE swearing-in ceremony yesterday of President Megawati Sukarnoputri's very own Cabinet broke no new ground. True to her subdued form, there were no long speeches. But what she did
      1,080 words
    • Article
      Lock icon SGX statement on NOL
      189 2 IN an interview with Bloomberg on Aug 8, Neptune Orient Lined president and chief executive Flemming Jacobs said: "The (NOL's) expectations now are for punch lower results than what we saw last year." His statement was subsequently reported in The Straits Times ("NOL chief warns that
      189 words
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  • ECONOMIC survey
    • Article, Illustration
      Lock icon MTI spots silver lining for manufacturing
      667 3  -  DmUm ia global chip tanai may be bottoming, saya ministry 1 chief economist By Eugene Low DESPITE its worst decline since the 1965 recession in the second quarter, there is hope on the horizon far Singapore's manufacturing sector. There are indications that the slump
      667 words
    • Article, Illustration
      Lock icon MTI rules out structural cause as unit labour cost shoots up
      620 3  -  KTI chief economist says rise is cyclical, likely to be reversed By i Chuang Peck Ming THE economic slowdown is starting to put a bigger dent in Singapore's competitive edge, but no permanent damage is expected. The unit labour
      Source: Economy Survey; Source: MTI  -  620 words
    • SURVEY Briefs
      • Article
        Lock icon Nominal GDP down 0.6% in Q2 to $38.6b
        47 3 NOMINAL gross domestic product—or GDP at current market prices —fell 0.6 per cent in the second quarter to 138.6 billion. This follows a 6 per cent rise in Ql. Meanwhile, real GDP fell 0.9 per cent to $34.3 billion.
        47 words
      • Article
        Lock icon Services sector cases GDP fall
        56 3 IF not for the service sectors, the GDP slump in Q? would have been a sharper 3 per cent or so. The three main service sectors—transport and communications, business services and financial services—contributed 1.8 percentage points to real GDP growth In 02, ofteting some ofthe
        56 words
      • Article
        Lock icon Private consumption growth slows
        79 3 GROWTH in private consumption slowed ftirther to 3 per cent in 32 as household spending on consumer products fell Motor vehicle purchases continued to hold up private spending Visitor spending also fell in line with a decreased influx of tourists. Overall domestic demand fell by 7.3
        79 words
      • Article
        Lock icon Construction expands 0.4%
        48 3 SUPPORTED by public sector building projects, the construction sector grew a flattish 0.4 per cent in Q2, after a revised 1.3 per cent in Ql. The value of contracts awarded plunged 64 per cent in Q2, preliminary numbers show. Certified payments fell 3.4 per cent.
        48 words
      • Article
        Lock icon Sea,air cargo volumes dip further
        60 3 IN line with the slower trade activities, the volume of sea and air cargo handled fell farther in Q2. Most segments of the transport and communications sector saw weaker growth, including mobile phone and Internet subscriptions. Overall, the transcom sector grew a slower 2.7 per
        60 words
      • Article
        Lock icon Financial services up 2.6%
        47 3 AGAINST the trend, financial services edged up in Q2, growing by 2.6 per cent, up from 2.4 per cent in Ql. This brought growth in the first six months of2ool to 2.5 per cent Improved performance in commercial banking and stockbroking boosted growth.
        47 words
      • Article
        Lock icon Business services growth slows
        45 3 MOST types of business services saw slower growth in Q2. The real estate sector remained weak, while the professional services segment also reported slower growth. Demand for IT activities, for instance, moderated, and legal and accounting services also saw decreased demand.
        45 words
    • Article, Illustration
      Lock icon Exports shifting to regional zones
      629 3  -  Rise in share of regional markets to compensate fall in US, EU market stake By i Chuang Peck Ming SINGAPORE'S slice of major export markets especially for all-important electronics products has shrunk. But it's not something government economic planners here are losing sleep over. The
      FILE PHOTO  -  629 words
    • Article
      Lock icon Strategy to cash in on China's growth
      476 3  -  By Eugene Low THE Singapore Tourism Board (STB) has to beef up its operations in China if it is to attract more Chinese tourists to Singapore, a top Ministry of Trade and Industry official said yesterday. Speaking to reporters at MTl's second-quarter economic
      476 words
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  • SINGAPORE companies
    • Article, Illustration
      Lock icon Creative aims for EPS of 60 US cents for FY02
      623 4  -  Target does not factor in special charges or restructuring costs By\ Serena Ng DESPITE an uncertain outlook and an expected big drop in revenue, Creative Technology is aiming for earnings of 60 US cents a share for its financial year
      FILE PHOTO  -  623 words
    • Article
      Lock icon Parkway shares dip on investor concerns, say dealers
      293 4  -  By Kalpana Rashiwala PARKWAY shares closed lower yesterday despite news that the company had finally sold its loss-making London Heart Hospital. Dealers said the share price retreated on investor concerns about an overall gloomy economic outlook and Parkway's lack of a strong
      293 words
    • Article
      Lock icon OCBC's offer for KCH now unconditional
      540 4 Bank will now move towards compulsory acquisition of remaining shares OCBC Bank yesterday became the first local bank to wrap up the acquisition of a rival in the current round of banking consolidation. In a statement, OCBC declared its offer for aU outstanding shares
      540 words
    • Article
      Lock icon Spying claims fail to sway Aussie minister on SingTel's Optus bid
      365 4 Reuters [CANBERRA] Australia moved yesterday to allay concerns about Singapore Telecommunications Ltd's US$9 billion bid for Cable and Wireless Co's Australian assets amid claims that Singapore had spied on Australia for 20 years. Australian Defence Minister Peter Reith would
      Reuters  -  365 words
    • Article
      Lock icon Segmental disclosures tell a fuller story
      783 4  -  lock siew paul thompson The writer lectures in accounting at the University of Nottingham in Malaysia, Kuala Lumpur FOR the past few months, annual reports for financial year 2000 have been raining down on investors. And recipients will notice that these documents are starting
      783 words
    • Article
      Lock icon SFI buys up to 29.9% of UK food firm for £10.5m
      423 5  -  Maximum stake just shy of UK trigger for general offer By] Rachel Ong SINGAPORE Food Industries yesterday said it had acquired up to 29.9 per cent of British chilled food company S Daniels for a maximum total consideration of
      423 words
    • COMPANY Briefs
      • Article
        Lock icon Teledata falls linto the red
        102 5 Reuters TELEDATA (Singapore) Ltd has reported a first-half net loss of $1.99 million, compared with a net profit of 10.04 million a year ago. Turnover was million, compared with $33.14 million previously. Ttiedata, which distributee telecommunication and data communication products and provides telecommunications and consultancy
        Reuters  -  102 words
      • Article
        Lock icon NTUC Income buys LKN-Prinsep House
        89 5 LKN-Primefleld bas entered into a sale-and-purchase agreement with NTUC Income Insurance Co-operative for the sale of LKN-Prinsep House for $42.44 million. The 11-storey office hlock is situated near the Junction of Bras Basah Road and Prinsep Street LKN-Primefield now receives rental income from the property,
        89 words
    • Article, Illustration
      Lock icon SIA bid to up Air NZ stake may cost NZ$470m
      579 5 Bnt NZ govt unlikely to let SIA raise stake to 49%, say analysts Reuters [WELLINGTON] Singapore Airlines Ltd would face a bill of about NZ$47O million (*****.7 million) to increase its stake in Air New Zealand to 49 per cent,
      Reuters  -  579 words
    • Article
      Lock icon SembLog H1 profit seen soaring despite downturn
      475 5 Gain of $30-37 m expected against $2L5m before on KNI buy and supply-chain mgt business Reuters SEMBCORP Logistics, South-east Asia's largest logistics firm, is expected to post sharply higher firsthalf earnings due to contributions from its Swiss partner and strong growth from its
      Reuters  -  475 words
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  • Article
    Lock icon BT SHARE information service
    3074 5 »JU I 12X19 7404 lit 0J4 0* TV LY n W KoppollonO OA-Aug I UW W.7U 7X U c —>o* »m a* m» im koppmtit m-m i otto 13x12 ls u n nTn MomOuoii 2*-Jul P UML 12* HJL UM7 15-**y 0.102 0.799 0.10 Q>9 hl.r
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  • SINGAPORE markets
    • Article, Illustration
      Lock icon STI ends flat as market continues to draw a blank
      619 6  -  l i comment STOCKS r. sivanithy THIS space may as well have been left blank. Not out of choice mind you after all, the purpose of a market report is to describe what happened in the stock market so readers
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    • Article, Illustration
      Lock icon Deutsche's OUB wrt: small discount
      184 6  -  WARRANT WATCH By R Sivanithy AFTER a slight delay, Deutsche Bank on Wednesday amended the terms of its covered call on OUB to take into account the takeover bids and the fact that OUB may be delisted. Holders can now convert the warrant into OUB
      184 words
    • Article, Illustration
      Lock icon ST Engg: charts show support
      249 6  -  HOTSTOCK Wong Wei Kong SHARES of ST Engineering had a good run yesterday, posting substantial gains in active trading. The stock closed up nine cents at a day-high of $2.75, after opening at $2.69. Volume came to 3.3 million units, compared with the 10-day traded
      249 words
    • Article, Illustration
      Lock icon Greenback's slide may become hard to control
      523 6  -  -id comment CURRENCIES All key US$ supports broken, 1.6850 Swiss franc support is seen as crucial larry wee KEY US dollar supports in currency markets were convincingly smashed in overnight trading, forcing the currency to multi-month lows which we fear will raise concern
      Source: Reuters  -  523 words
    • Article
      Lock icon Untitled
      312 6 Fu Yu MfjglOc 11,467,000 Pwkway H 25c ..1 9,547,000 SingTel 15c 7,781,000 Kep FELS Energy 50c 6,517,000 KlVentunes 10c 6,432,000 JKYaming20c 6,013,000 GoWen m USIOc 5343,000 PNEInd 10c 5303,000 UniFood HK25c 5,006,000 Tiarjin Zhong 4,755,000 Hocfci OUB 42.137,050 UOB 36,386,312 Datacraft 10c 26,989,544 Chart Semiconductor 26c 21,730,865 DBS Grp..... 20,701,917
      312 words
  • Article
    Lock icon UNIT TRUSTS & FUNDS
    2843 6 UNIT TRUSTS FUNDS AflBCt |y|gf Aste Lid Aberdeen Select Portfolio: China Opportunities Fdl** 0.902 0.948 Global MNCFd 0.692 0.727 Global Technology Ml** 0.568 0.596 UK Blue Chip Fd!** 0.706 0.742 American Opport Fd 0.7*3 0.623 Com Euro Eqty Fdl** 0.975 1.025 Japan Eqty Fdl** 1.117 1.174 Asian Fixed Income Fd
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  • SINGAPORE news
    • Article
      Lock icon Commercial vehicle, motorbike COEs jump on halving of quota
      537 7  -  Remaining half set aside for open bidding later this month By* Christopher Tan THE halving of quotas has apparently driven up COEs for commercial vehicles and motorcycles in the latest tender. Motorcycle COE premium rose a whopping 42.3 per cent to
      537 words
    • Article
      Lock icon Franchisee Health One eyes listing
      366 7  -  The group has just started MeetDocxom to add to its main business of health care products By' Vince Chong HEALTH-CARE services and product distribution firm Health One, which holds the local and Malaysian franchise for American health product brand GNC, has plans to go public,
      366 words
    • Article, Illustration
      Lock icon Cockpit buys 2nd UK hotel, paying £8.5m
      305 7  -  Chamberlain Park in Birmingham becomes the company's 7th hotel By Kalpana Rashiwala THE Cockpit group has bagged its second hotel in England, The Chamberlain Park Hotel, for £8.5 million (5521.3 million). This is the group's seventh hotel, and brings to about 1,800 rooms,
      305 words
    • Article
      Lock icon Options for OUB minorities
      250 7  -  mail rem Narayana Narayana Singapore I REFER to your article "UOB likely to garner enough to delist OUB" by Angela Tan (BT, Aug 9). It has been pointed out quite correctly that dissenting shareholders in Overseas Union Bank (OUB) have the additional option not to accept
      250 words
    • Article
      Lock icon OUB, OUE EGMs unnecessary
      264 7  -  Denis Distant, Singapore I REFER to your article "UOB likely to garner enough to delist OUB" by Angela Tan (BT, Aug 9) in which it was said that "shareholders also questioned the need for the EGM and the expense involved". The article also quoted a lawyer
      264 words
    • Article
      Lock icon Parkway's hospital sale announced too late
      142 7  -  Sim Siew Tin Carol Singapore I REFER to the announcement by Parkway Holdings of the disposal of its London Heart Hospital (BT, Aug 9), I am surprised to find a significant time lapse between the signing of the deal and the announcement of the
      142 words
    • Article
      Lock icon Singapore boutique fund manager looks to Greater China
      572 7 Chartered Asset Management cats S-E Asia exposure Reuters [HONG KONG] Singapore boutique fund manager Chartered Asset Management is restructuring its portfolio to reduce its exposure to Southeast Asia and focus on attractively valued North Asia growth plays, especially in Greater China. "If
      Reuters  -  572 words
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      Lock icon Page 7 Advertisements Column 1
      292 7 IN THE MATTER OF FVTUIA ELECTRONICS A ENGINEERING PTE LTD (In Voluntary Liquidation) NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Consumes Act, Cap. 50. that a Final General Meeting of the member* of the above mentioned Company will be held at the office of the Liquidator. 15
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    • Advertisement
      Lock icon Page 7 Advertisements Column 2
      24 7 iToTI Lianhe Zaobao How I Singapore, I HK and I Taiwan I holp their I SMEs I !JriS£H«! I SSSiF I I mm I
      24 words
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  • REGIONAL news
    • Article
      Lock icon Schroder returns to Resorts World with 2% stake
      332 8 KUALA LUMPUR 22.4 m shares bought, mainly for UK, US funds BRITISH fund manager Schroder Investment Management has returned to Resorts World after cashing out of the Malaysian casino group early last month. On July 25, the fund manager acquired 22.4 million
      332 words
    • Article
      Lock icon KL-KLIA rail link completed
      212 8 KUALA LUMPUR Reuters, Bloomberg MALAYSIAN businessmen laid the final rail linking the capital to its main airport yesterday, more than two years behind schedule and with its destination struggling to woo back airlines that have cut services there. The Express Rail Link (ERL) faced immediate questions
      Reuters,; Bloomberg  -  212 words
    • Article, Illustration
      Lock icon A tale of two Indon cities
      1165 8  -  WRITER'S JOURNAL The contrasting fortunes of Jogjakarta, and Solo raflact «ia iwtiwnw«sa th«Hr ml'HTf karim raslan HEREDITARY monarchs are not doomed: they do have a future. Recently, while travelling in Central Java, I came across two traditional rulers one of whom had adapted to
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    • Article
      Lock icon Peso rebounds on Arroyo's threat to fix US$-peso rate
      529 9  -  Regulator also slaps stiff fines on 9 banks for currency manipulation From. Al Labita in Manila PHILIPPINE markets yesterday showed signs of stabilising after President Gloria Arroyo threatened to fix the US dollar-peso exchange rate and monetary authorities slapped stiff fines
      529 words
    • LATE Briefs
      • Article
        Lock icon KPC Hldgs to buy Pepsi bottler
        75 9 Bloomberg [KUALA LUMPUR] KPC Holdings Bhd, Malaysia's biggest fast food company, said it plans to buy closely held Permanis Sdn, which bottles and sells Pepsi soft drinks, from Antah Holdings Bhd. The move will help KFC, which holds the Kentucky Fried Chicken and Pizza
        Bloomberg  -  75 words
      • Article
        Lock icon Human cloning is unethicah Malaysia
        56 9 AFP [KUALA LUMPUR] Malaysia considers human embryo cloning unethical and unacceptable to the country's religious teachings, Health Minister Chua Jul Meng said yesterday. "Our view is that cloning of human beings is unethical and unacceptable in terms of our religions and culture," he was quoted
        AFP  -  56 words
      • Article
        Lock icon F&N in China glass venture
        66 9 Dow Jones Newswires [KUALA LUMPUR] Fraser Neave Holdings plans to invest US$lO.l million for a 60 par cent stake in a joint venture with Sichuan Toupai Group to produce glass containers in China, the Malaysia Business Times newspaper reports. Toupai Group will invest US$6.7 million
        Dow Jones Newswires  -  66 words
      • Article
        Lock icon Parliament won't move to Putrajaya
        53 9 Dow Jones Newswires [KUALA LUMPUR] Parliament won't be relocated to Putrajaya, the Malaysia Business Ttmes reported, citing Minister in the Prime Minister's Department Rais Yatim. The Parliament building in the city will be renovated. The Cabinet in July allocated RM41.8 million (5519.3 million) for the
        Dow Jones Newswires  -  53 words
    • Article
      Lock icon Inflation pushing up interest rates: Philippine Treasurer
      381 9 MANILA Dow Jones Newswires PHILIPPINE Treasurer Sergio Edeza said yesterday growing inflationary pressures have made it difficult for the government to keep key interest rates from moving up. "It's a little difficult because we are facing a lot of problems, especially inflation, which
      Dow Jones Newswires  -  381 words
    • Article, Illustration
      Lock icon Tommy ready to give himself up: sister Tutut
      506 9 He wants to clear his name over killing of judge, bombing of JSE Reuters, AP [JAKARTA] Indonesian police said yesterday the family of former president Suharto would hand over a fugitive son in what appears to be a breakthrough in bringing the
      Reuters,; AP  -  506 words
    • Article
      Lock icon Taiwan tech firms see no sign of rebound
      554 10 TAIPEI Personal computer makers and chip firms report drop in sales in July from a month ago Reuters JULY sales at Taiwan's top technology companies offered few signs of a tech sector rebound that was expected to begin in the second half
      Reuters  -  554 words
    • LATE Briefs
      • Article
        Lock icon 38 civilians massacred in Aceh
        119 10 AFP [BANDA ACEH Indonesia] Thirty-eight civilians have been massacred on a palm oil plantation in the Indonesian province of Aceh, the military said yesterday. Separatist Free Aceh Movement (GAM) rebels and the military blamed each other for the massacre on Thursday morning, in which civilians
        AFP  -  119 words
      • Article
        Lock icon BOT changes forex trade reporting rules
        104 10 Reuters [BANGKOK] The Bank of Thailand (BOT) yesterday announced major changes to foreign exchange trade reporting rules, dropping a previous plan to force non-residents to reveal the identity of foreign counter-parties. BOT assistant governor Bandid Nijathaworn told reporters the new forex reporting rules, in
        Reuters  -  104 words
      • Article
        Lock icon US pays service charges to China
        129 10 AFP [WASHINGTON] The Pentagon has decided to reimburse China about U5534,000 for the costs incurred during the three-month seizure of a US Navy surveillance plane, including the care of a 24-member crew that was detained for 11 days, Pentagon officials said (Hi Thursday. "The
        AFP  -  129 words
      • Article
        Lock icon June industrial production up in India
        92 10 Dow Jones Newswires [NEW DELHI] India's general index of industrial production rose 1.5 per cent on the year in June 2001, compared to a 5.9 per cent increase in the same month a year earlier, the country's Central Statistical Organisation said yesterday. June was
        Dow Jones Newswires  -  92 words
      • Article
        Lock icon India to mull MTNL privatisation later
        105 10 Reuters [NEW DELHI] India will consider privatising state-run telecoms giant Mahanagar Telephone Nigam Ltd (MTNL) after it has wrapped up the sale of monopoly overseas telecoms carrier VSNL, a senior government official said yesterday. "The government has taken no decision on MTNL. We will
        Reuters  -  105 words
    • Article
      Lock icon CP Orange eyes one-third share of Thai market
      542 10  -  New wireless service is joint venture of Britain's Orange From] Harish Mehta in Bangkok THAILAND'S newest mobile phone operator, CP Orange, is investing US$6OO million in a new wireless service that aims to grab a one-third share of the fast-growing market within
      542 words
    • Article, Illustration
      Lock icon Nina Wang confessed she committed adultery, court told
      363 10 AllnpiliMi rwifi fnm father-in-law ia legal tussle fir HKs27.sb ferine AFP [HONG KONG] Asia's richest woman, Nina Wang, confessed to an extra-marital affair with a warehouse owner who had business dealings with her late husband, Teddy Wang, a court was told yesterday.
      AFP; FILE PHOTO  -  363 words
    • Article
      Lock icon EIU cuts HK growth forecast to below 1%
      285 10 HONGKONG Reuters THE Economist Intelligence Unit (EIU) said yesterday it had cut its estimate for Hong Kong's economic growth for 2001 to less than one per cent from 2.7 per cent. Several banks have also trimmed their full-year growth forecast for Hong
      Reuters  -  285 words
  • FINANCE
    • Article
      Lock icon Futures end lower in mixed trade
      321 8  -  ST tato/MSEI Wjfar* Index Daniel Wong Refco (Singapore) Pte Ltd SINGAPORE stocks traded mixed with Singapore Technologies Engineering leading the gainers and Creative Technology limiting gains. At the close, the benchmark Straits Times Index lost 0.48 point or 0.03 per cent, to close at
      321 words
    • Article
      Lock icon Futures rally strongly towards close
      246 8  -  MSCllUwaabta Daniel Wong Refco (Singapore) Pte Ltd TAIWAN stocks rose on expectations that demand in the semiconductor industry would improve. At the close, the MSCI Taiwan Stock Index gained 2.38 points or 1.14 per cent to close at 210.55 points. Turnover for MSCI Taiwan stock
      246 words
    • Article
      Lock icon CURRENCY REPORT
      214 8 Reuters THE US dollar fell to threemonth lows against the euro for a second straight day yesterday, extending the previous day's dizzying drop plagued by worries about the US economy. But it still gained more than a third of a per cent against the yen after Japan's Finance
      Reuters  -  214 words
    • Article, Illustration
      Lock icon Untitled
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      1,125 words
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  • Article
    Lock icon COMMODITIES
    1554 9 SlUOMHfTURBi Aug10 MKI Mm dHtai SJOpa) ISS1 cMts/k«) dMt ttlHM Om WorOi IN*. t— Srtt It-M) !■>«£« 103.50 Oct 01 iosjo NovOI 106.50 Otc 01 107 JO KSS 3 CONTRACT (US CMb/hf VtfHM ORM M—* HI* t— Srtt (to—t) Man* S«P 01 58.00 58.00 58.00 650 M00 Oct 01
    1,554 words
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  • Article
    Lock icon STOCKS asia
    7177 10 HONG KONG vat *—io mm rooo) AcrotlAM Muttlmadia 1.73 -0.05 116 Alpha Ganaral 0.03 uncti 7510 Amoy Prop— 8.50 -0.15 2934 Ananda WtngOn 0.V4 unch ***** Angang Naw Staal H 1.00 aOI ***** Anhul Conch M 1.76 0.06 4722 Anhul Eiprraiiy H L27 0.07 6128 ArcontocflCorp U4 0.02
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  • WORLD news
    • LATE Briefs
      • Article
        Lock icon Bridgestone posts H1 loss alter recall
        172 11 Reuters [TOKYO] Japanese tyre giant Bridgestone Corp skidded into the red in the first half of2ool in the wake of a devastating tyre-recall scandal by its US unit, Firestone. Bridgestone president Shigeo Watanabe said fellout from the recall led to a group net loss
        Reuters  -  172 words
      • Article
        Lock icon Siemens mulls more job cuts
        79 11 AP [FRANKFURT] After announcing more than 10,000 job cuts this year, German electronics giant Siemens AG said yesterday it may axe another 3,000 positions to squeeze additional savings from its troubled telecommunications division. Siemens' fixed-line telecommunications arm, Information and Communications Network, has already been hit
        AP  -  79 words
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        Lock icon Lernout to offer creditors shares
        120 11 Bloomberg (BRUSSELS] Lernout Hauspie Speech Products NV, the Belgian maker of speech-recognition software under bankruptcy protection, will turn its US Dictaphone unit into a new company and give shares to its creditors. The unit's creditors, which include Lernout Hauspie itself, banks and bondholders, agreed "in
        Bloomberg  -  120 words
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        Lock icon Coke Amatil ups H1 operating profit
        90 11 Reuters [SYDNEY] Soft drink bottler Coca-Cola Amatil Ltd reported a 36 per cent jump in first half operating profit yesterday, and forecast the momentum would continue in most of its operations. It posted a first half trading profit from operations of A 5107.5 million
        Reuters  -  90 words
      • Article
        Lock icon Lucent to buy about US$3b of Agere gear
        87 11 Reuters [CHICAGO] Semiconductor and optical components maker Agere Systems Inc said on Thursday that former parent Lucent Technologies Inc has committed to buy almost US$3 billion worth of its products over the next three years. It said in quarterly documents filed with
        Reuters  -  87 words
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        Lock icon Dow Jones Newewire's purchase
        69 11 Bloomberg [NEW YORK] Dow Jones Company said its Dow Jones Newswire unit will pay US$6.5 million in a bankruptcy auction for Bridge Information Systems Inc's commodities and energy news contracts. Dow Jones Newswire also will provide financial news to all current Bridge customers until Bridge can
        Bloomberg  -  69 words
      • Article
        Lock icon Bristol-Myers gets nod for acquisition
        44 11 AP [BRUSSELS] European Union antitrust regulators gave a green light yesterday to the US$7.B billion acquisition by Bristol-Myers Squibb Co of DuPont's drug business. Bristol-Myers is the sth largest pharmaceuticals company in the world, while DuPont ranks 42nd. —AP
        AP  -  44 words
    • Article
      Lock icon US July wholesale prices dive 0.9%
      513 11 WASHINGTON This is the best inflation performance in 8 years AP WHOLESALE prices plunged by 0.9 per cent in July, the best inflation performance in eight years as the costs of gasoline and other energy products posted big declines. The better-than-expected showing in the
      AP  -  513 words
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      Lock icon Economists see US Fed ending rate reductions after August
      363 11 U NEW YORK Bloomberg THE Federal Reserve will stop lowering interest rates after an expected quarterpoint reduction this month, as the economy shows signs of recovering, most Wall Street economists said. All 24 economists polled yesterday said US central bankers will
      Bloomberg  -  363 words
    • Article, Illustration
      Lock icon Europe probes safely of cholesterol drugs
      334 11 LONDON FT THE safety of statins, the main group of anti-cholester-ol drugs, is being reviewed by European regulators. The investigation was triggered by reports of deaths linked to the use of Lipobay, the drug Bayer withdrew on Wednesday. The inquiry, confirmed on Wednesday by
      FT; REUTERS  -  334 words
    • Article
      Lock icon Damages in tobacco suit cut to US$100m from US$3b
      447 11 LOS ANGELES AP, AFP A JUDGE ruled on Thursday that a jury's US$3 billion verdict against Philip Morris was excessive but the tobacco giant will get a retrial only if the cancer-stricken plaintiff won't accept a settlement of US$lOO million. Superior
      AP,; AFP  -  447 words
    • Article
      Lock icon Bush backs research on existing stem cells
      509 12 STEM CELLS But govt will not support destruction of new embryos NYT [CRAWFORD, Texas] Addressing the nation for the first time since his inauguration, President George W Bush said on Thursday night that he would allow federal taxpayer money to be used for
      NYT  -  509 words
    • Article
      Lock icon US investors zero in on stem-cell firms
      380 12 WASHINGTON Shares soar ahead of funding nod; analysts see big potential bat rale oat quick benefits AFP STOCK investors poured money into firms researching stem cells on Thursday, ahead of US President George W Bush approval for federal funding in the sector. Experts
      AFP  -  380 words
    • Article, Illustration
      Lock icon Embryonic stem cells – the blank slate of life
      512 12 Embryonic stem cells the blank slate of life ATLANTA LAT-WP THE political, ethical and religious furor created by the question of allowing federal funding of embryonic stem cell research comes down to some tiny little pinkish-yel-lowish bumps in a Petri dish. They are called blastocysts tiny clusters of embryonic cells
      LAT-WP; AP  -  512 words
    • Article
      Lock icon Aussie IPO of Enex Resources to raise A$2.3b
      298 12 SYDNEY Bloomberg TAKING advantage of a rise in prices for the mineral, Glencore International plans to sell as much as AJ2.3 billion (S$2.1 billion) of shares in its Australian and African coal mining unit, Enex Resources Ltd. Glencore, one of the world's
      Bloomberg  -  298 words
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  • Article
    Lock icon SGX clob
    1872 12 BOMPS AWARRAMTS *ml b*f w l e« tea. M, —5?—— c p t 1^—I u. B«a> »>,>—«—, w nu «a—»i u» IS 3 ei 2 24 4 M 22.5 S 1 Armstrong ******0 II 6 S 314 1 to 10 44 38.5 03 s AsiaFoodP******2 .03 13 32
    1,872 words
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  • e News
    • Article
      Lock icon Code Red II strikes in 20 Chinese provinces
      358 13 BEIJING Worst vims ever to hit the nation, say experts AFP THE "Code Red II" computer worm has paralysed government and business computers in 20 Chinese provinces and cities. This is the worst virus ever to hit the nation, experts said yesterday.
      AFP  -  358 words
  • Article
    Lock icon STOCKS sgx
    7012 13 SOXMADfBOARD Gr Gr MM B-M U« M tar IMQMM Dk th M M Cb tag rn+ tew Campf S* W- ("8860 M# Lear If Sdhr Cw W >3 Wa multmnmstiiv 143 35 c AcmaSOc 39 unch 40 39 38 39 40 03 19.9 0.6 10.3 (77 39 41
    7,012 words
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  • BT motoring
    • Article, Illustration
      Lock icon Four Play
      740 14  -  The Volkswagen Golf V 6 4Motion could get a boy-racer all hot and steamy. But does it? CHRISTOPHER TAN finds Out CHRISTOPHER TAN THE first time I drove Volkswagen's six-cylinder Golf was well before the Spice Girls were an item. The VR6, as the car was known a
      740 words
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      Lock icon Going green comes at a price
      1100 14  -  And a hefty one at that when it comes to hybrid cars like the Prins and the Insight By Christopher Tan SO you're not a greenie. You think nothing of using two styrofoam cups for a cup of coffee, you use one fresh foolscap
      ARTHUR LEE  -  1,100 words
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      Lock icon Coming soon: new Lexus model
      399 14  -  The ES3OO promises to be a knock-out in terms of looks, performance and room By Christopher Tan THE new ES3OO will debut soon, making it the third new Lexus to be launched here over the past nine months or so. The mid-range Lexus comes hot
      399 words
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      103 14 If you have something S* 00 worth of motor-related to get off vouchers P'izes a r e your chest. ,vr:te to us. sponsored by We welcome feedback STAMFORD TYRES. suggestions from ITI £3 fc ©f* £5 s r 9 .we sc- readers. listed tyre and auto The AUTOMOBILE se r
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  • BIZ woman
    • Article, Illustration
      Lock icon Getting a kick out of dance
      996 15  -  GEOFFREY EU meets S'pore-born, Toronto-based Yvonne Ng who packs an energetic punch in her pint-sized frame GEOFFREY EU THE arts festival may have come and gone, but modern dance is alive and kicking in Singapore. For four evenings last week at The Substation, Singapore-born,
      PHOTOS BY CYLLA VON TIEDEMANN  -  996 words
  • THE arts
    • Article, Illustration
      Lock icon Peruvian gesture
      267 15  -  By Aaron Lye FOLLOWING current trends, yet another work of art has been donated to the Singapore Art Museum, bringing to just slightly over 120 the number of paintings received as donations by the museum. The donation of artist Sergio Silva-Cajahuaring's Nasca XXI: Inca Mythology by the Embassy
      267 words
    • Article, Illustration
      Lock icon THE PROGRAMME
      666 15  -  Compiled by Aaron Lye MUSIC Ptanotogue Performed by the NUS Piano Ensemble, Pianologue is a duo piano recital that "describes the intimate dialogue between two pianists" by way of the music of Tchaikovsky, Arensky, Bach and Dvorak. Sept 29, 7.30pm, University Cultural Centre, NUS EXHIBITIONS Miienko Prvadd—Collection An
      666 words
  • Page 15 Miscellaneous
    • Miscellaneous
      Lock icon Page 15 Miscellaneous Column 1
      322 15 CRYPTIC CROSSWORD ACROSS 5 The most over-used threefold 1 Buys trial treatment lor good examination (7) health (9) 6 Points to press for stout a train 9 Fed by the hotel, as is natural (6) (9) 10 Exhume a murderer and cause 7 Wine offered to church people a great
      322 words
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  • EXECUTIVE Arts
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      Lock icon Vocal support
      1078 16  -  The Asia South-Pacific Symposium on Choral Music, to be held here next week, marks a recognition of the vibrant choral life in the region, the organiser tells aaron lye AARON LYE IT'S happened all over the world and now it's our turn. In what some see as symbolising
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      Lock icon Enduring appeal
      673 16  -  Miss Saigon may be around for 10 years but it has something for everyone as parvathi nayar discovers PARVATHI NAYAR THE lady's in town, tickets are being snapped up to see her in all her glory from fabulous sets to skimpily-clad dancers. There's a romantic story at its
      ARTHUR LEE  -  673 words