The Business Times, 8 January 2000

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Total Pages: 20
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    12 1 THE BUSINESS TIMES 85c SINGAPORE Internet: http://business-times.asial .com.sg/ SATURDAY, JANUARY 8, 2000
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  • Article
    Lock icon MARKET SUMMARY
    59 1 □sn 2,***** (+46.83) BT-SU 03U1 (+24.09) □susa nmiKES moo (+10.80) STOCK MABKET INDICES Wednesday Change KLSE COMP dosed NIKKEI 18.193.41 +28.14 HANG SENG 15,406.63 +***** SET INDEX ***** +9.85 JAKARTA COMP _CJo«d MANILA COMP _2.W4.29 +15.18 TAIPEI WPI -7156 SEOUL COMP 948.65 -1114 CLSA CHINA B 838.70 +38.76
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  • Article
    Lock icon FINANCE
    78 1 FOREX RATES us* s$ US$ 1.662 £(liS$/SS per 1.645 2.736 EURO(US$/S$/E) 1.030 L713 DM 1.899 0876 YEN 106JJ 1.678* RM 3.800 0.437 HKS 7.778 0114 BAHT 37.42 0.044 Rl'PlAH 7.166 0.023 St to 100 units FEME SATES SINGAPORE* 5.80 KUALA LUMPUR 7.25 JAKARTA 40.00 BANGKOK 10.00 MANILA 11.00 HONG
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  • Article
    Lock icon Clob impasse: SGX refutes KLSE suggestion it is to blame
    630 1  -  ELSE statement last week omitted mention of CDP-Scans agreement, SGX proposal By I Siow Li Sen [SINGAPORE] The Singapore Exchange (SGX) yesterday refuted a suggestion by the Kuala Lumpur Stock Exchange (KLSE) last week that its Central Depositary (Pte) Ltd
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  • Article
    Lock icon Lum Chang to hive off, list broking business
    525 1  -  Move will position securities subsidiary for possible merger or takeover By< Catherine Ong [SINGAPORE] Lum Chang Holdings (LCH), the real estate and financial group, is hiving off its stockbroking business and listing it on the Singapore Exchange (SGX). The move will enable
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  • Article
    Lock icon US job, wage growth exceeds expectations
    266 1 Bloomberg [WASHINGTON] The US jobless rate held at a 29-year low of 4.1 per cent as job growth and wages accelerated more than expected in December, government figures showed yesterday. The economy added 315,000 jobs last month, the largest gain since July, the Labor
    Bloomberg  -  266 words
  • Article, Illustration
    Lock icon Millennium bug
    116 1 VOLKSWAGEN'S New Beetle is now available in Singapore. Volkswagen has sold 224,0000f its reinterpretation of the original Beetle worldwide since its debut in March 1998. Like the original, the New Beetle has large circular instrument dials and grab straps for the backseats. That icon of the Beatles and
    ARTHUR LEE  -  116 words
  • Article, Illustration
    Lock icon PacNet holding its own despite Internet war
    585 1  -  rTTexcluslve Company refutes report it has lost 50,000 subscribers By' Teh Hooi Ling [SINGAPORE] Pacific Internet (PacNet) says it has managed to maintain its subscriber base of 200,000, refuting a report this week by Internettechnology news provider CNet that it had lost 50,000
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  • NEXT page
    • Article
      Lock icon US audit industry to be probed after reported violations
      533 2 The SEC says PwC partners and staff floated share ownership rules FT [NEW YORK] The entire US auditing profession is to be investigated after the publication of a report exposing rampant violations of share ownership regulations by partners and staff at
      FT  -  533 words
    • Article
      Lock icon Analysts expect more cuts in oil refining this year
      497 2  -  Oil majors likely to shift to higher-yield hydrocr&cker activity, says one economist By Audrey Tan [SINGAPORE] Oil refiners in Singapore may cut their output further this year, in response to oversupply in a thinly profitable industry, analysts said yesterday. The cuts
      497 words
    • ON THE grapevine
      • Article
        Lock icon Huh? Almost 3 years to 2000?
        48 2 So you think we got through the new millennium with no Y2K bug problems? Well, think again. According to an illuminated signboard at Suntec City's Fountain of Wealth, the millennium isn't even here yet. The signboard says: 994 days to Year 2000.
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      • Article
        Lock icon One country, two forecasts
        208 2 FOR most economists, comparisons with the weatherman's track record and other jokes about their forecasting ability are par for the course. But Hongkong economist Edward Chen, a speaker at the Institute of Southeast Asian Studies' regional outlook forum on Thursday, would have the audience know that
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      • Article
        Lock icon Milking e-commerce
        133 2 MORE from Prof Chen at the Institute of Southeast Asian Studies conference. Pouring scorn on the current hype over electronic commerce, he said: "I don't believe in e-commerce; it's a dead end. You can't do business by e-mail." He did add though: only if a "second-generation Internet" arises
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    • Article, Illustration
      Lock icon International funds take 'wait and see' stance
      633 2 They feel it's too early to reshuffle their allocations Reuters, NYT [NEW YORK) Technology stocks have taken a hair-rais-ing dip so far this year, but some international equity portfolio managers are sitting tight rather than rushing to reshuffle their allocations. "I think we're
      Reuters,; NYT; AP  -  633 words
    • Article
      Lock icon Statement from SGX
      839 2 THE Kuala Lumpur Stock Exchange (KLSE) issued a statement on Dec 31,1999, inter alia, announcing, the extension of the authorised nominee status of The Central Depository (Pte) Ltd (CDP) for a final period of six months to end on June 30,2000. The KLSE statement states that "with
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      Lock icon Page 2 Advertisements Column 1
      114 2 rang? Wedding Fair 8-10 Jan Home Exhibition 8-16 Jan 9th Live Demonstration Course 17-19 Jan in Cardiovascular Intervention The Great Bridal Expo 21 23 Jan The Perfect Ganesh 22 28 Jan Launch of 'Vasantham' 23 Jan Asia Pacific IT Forum 2000 24 25 Jan Spring Melody 29 Jan Information is
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      9 2 Market gurus see muted growth in stocks, Pg 9
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  • SINGAPORE companies
    • Article, Illustration
      Lock icon SIA could face growth-hampering capacity shortage
      548 3  -  Aircraft delivery deferred during economic crisis, bnt upturn has been unexpectedly swift By Conrad Raj SINGAPORE Airlines may soon be facing a shortage of capacity which could hamper its growth thanks in part, ironically, to its success in dealing with the Asian economic crisis.
      548 words
    • Article
      Lock icon Big 4 banks up on bargain-hunting
      317 3 Shares look cheap after falling for 3 consecutive days Bloomberg SHARES of DBS Group Holdings Ltd and other Singapore banks rose as investors judged them cheap after falling for three consecutive days on concern that US interest rates may rise. DBS Group, owner of
      Bloomberg  -  317 words
    • Article
      Lock icon Shake-up on the cards for electronics subcontractors?
      682 3  -  pr.MUlocksiew lee han shih BULLISH on stocks of electronics subcontractors in Singapore? Watch out, a major shake-up could be on the way. Shake-ups are nothing new for those in the personal computer line. In the past five years the global PC industry has
      682 words
    • Article, Illustration
      Lock icon Strike steps up e-commerce plan
      386 5  -  It takes 20.7% stake in M&E e-commerce portal, with option to raise stake ByAi Andrew Wee SESDAQ-LISTED Strike Engineering announced yesterday that it would take a 20.7 per cent stake in a mechanical and electrical (M&E) e-commerce portal, with an option of increasing its stake
      CHRIS LOH  -  386 words
    • COMPANYBriefs
      • Article
        Lock icon Chip Eng Seng unit bags $33.6m deal
        64 5 CHIP Eng Seng Corporation last night announced that its subsidiary Chip Eng Seng Contractors (1988) has entered into a $33.6 million contract with the Environment Ministry to build a columbarium complex at Choa Chu Kang. It also announced that the subsidiary has been
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      • Article
        Lock icon Ex-UK minister is Avimo director
        28 5 AVIMO Group has appointed former British minister Roger Norman Freeman as a non-executive director. Mr Freeman, 57, is chairman of Thomson UK Holdings.
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      • Article
        Lock icon Eagle Brand names director
        35 5 EAGLE Brand Holdings, the China-based sanitary ware maker, has appointed Liu Guobiao as director of the company. Mr Liu is secretary of the Shiwan Town Committee of the Chinese Communist Party.
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    • Article
      Lock icon MMI in venture capital tie-up
      296 5  -  It seals deal with Stanchart unit to invest in firms in high-growth industries Marissa Chew DISK drive baseplate maker MMI Holdings has struck a deal with Standard Chartered Asia Development Capital Ltd to set up an investment management outfit that will invest in companies in
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    • Article
      Lock icon SPH gets nod on share buyback
      113 5 SHAREHOLDERS of media group Singapore Press Holdings yesterday approved a resolution giving directors the power to buy back up to 10 per cent of the company's shares. At the annual general meeting, shareholders also approved resolutions giving directors the power to issue share options
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    • Article
      Lock icon Serial nets order to make CD recorders for Thomson
      359 5 It expects to ship between 100,000 and 150,000 units in next six months Bloomberg SERIAL System Ltd, Singapore's biggest publicly traded chip distributor, said it bagged an order to make CD audio recorders for Thomson Multimedia SA, the world's fourth-largest consumer
      Bloomberg  -  359 words
    • Article
      Lock icon BT SHARE information service
      4407 5 Nat Mm CM Lo«K*nqHu«t Sap 24 I 1.072 2.5781. 0.89 221 Data TV LV TV W Und-Jacortiarg Sap 06 I ***** 10.236 7.40 630 Campany ann ($m) (*m) <cts> (cts) Lion Atiapac Sap 23 P 1.957 4.78« 0.85 2.08 U xm S«p 13 I 3.228 0.788
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      1194 3 A /ML TR, M TECHNOLOGIES (S) LIMITED /■l# W M\ (INCORPORATED IN THE REPUBLIC Of SINGAPORE) Qrou P Company SS'OOO SS'OOO 1 (a) Turnover 1998 Chan 9« 1999 1998 Change 1. (a) Turnover 11,373 25.144 -55 17,623 26.737 -34 1. (b) Investment income 0 0 0 0 1. (c) Other
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  • SINGAPORE markets
    • Article, Illustration
      Lock icon Covered warrants a cheap way to buy into blue chips
      180 4  -  WARRANT WATCH By' Ven Sreenivasan AFTER three days of selling which drove the market down about 8 per cent, blue chips rebounded yesterday as investors flee to quality. While most of these stocks may be too steep price-wise, small investors
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    • Article, Illustration
      Lock icon STI regains 2,400-level, but high-tech stocks still fragile
      575 4  -  I-li comment STOCKS v.sreenivasan STRONG bargain hunting for blue chips helped the stock market end the week on a positive note after three days of panic-stricken selling had wiped 8 per cent off total market capitalisation. The benchmark Straits Times Index managed
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    • Article
      Lock icon Untitled
      477 4 Stocks Volume OUB DBeCW*****3 44.881,000 Benefun HK10c 19,270,000 PCI 25c 17,198,000 MediaRing 10c 14,386,000 •TanChonglnt50c 12.867,000 L&M50C 10,781,000 CityDev GS CW*****3 10,077,000 SIA CL eCW*****8 9,938,000 Kingboard US10c 9,778,000 Hotung Inv NT5 8,723,000 Stocks PacificCentury" 106,162,944 DBS Grp 87,998,865 SIA 51.127,462 CityDev50c 32,516,372 OUB 28,017,100 PCI 25c 26,283,690 NatEleclOc 25,748,453
      477 words
    • Article, Illustration
      Lock icon Mixed outlook seen for Tan Chong
      247 4  -  HOT STOCK By Wong Wei Kong SHARES of Nissan distributor Tan -Chong International rose in active trading yesterday, finishing among the session's most heavily traded issues. The stock closed up 5 cents at its day high ofHK$l.5B, after opening at HK$l.54 and trading to
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    • Article, Illustration
      Lock icon Yen still worst-hit as money markets take a breather
      366 4  -  l-l I comment nMRRFNHIFS larry wee ASIAN currency markets saw a quieter session yesterday, after a hectic start to the year 2000 on the back of sharp stockmarket falls. Players said that a general trimming of positions ahead of key US
      Source: Reuters  -  366 words
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  • SINGAPORE news
    • Article
      Lock icon Computer scanning: IDA issues guidelines to ISPs
      542 6  -  Move follows privacy scare when Sing Net scanned subscribers' computers without telling them By' Teh Hooi Ling THE government yesterday issued guidelines on the scanning of customers' computers by Internet service providers (ISPs) following a recent privacy scare. The Info-communications Development Authority of
      542 words
    • Article
      Lock icon Just how real is the recovery?
      607 6  -  R!9 ontneeconomy Byi Anna Teo IS the return of economic growth in the recently ravaged Asian economies more a technical rebound than any real recovery? The apparently robust region- wide retreat in recent months from the financial turmoil that's still fresh in most minds
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    • Article
      Lock icon Corrections & clarifications
      48 6 Corrections clarifications IN our front page story yesterday on Online Financial Superstore, we indicated that the company's online reverse auction for housing loans had the approval of the Monetary Authority of Singapore (MAS). The company has clarified that what it did was inform the MAS of its activities.
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    • Article
      Lock icon Central bankers in informal meeting on Monday
      205 6 CENTRAL bankers from Asia, Africa, Europe and North America will meet in Singapore on Monday to discuss current economic and financial developments. The one-day informal meeting will be co-hosted by the Monetary Authority of Singapore (MAS) and the Bank for International Settlements (BIS).
      205 words
    • Article
      Lock icon S888.com fined $5,000 for violating Companies Act
      440 6 The Straits Times ELECTRONIC-commerce company SBBB.com, which made news last year for its "franchisee" referral scheme, was yesterday fined $5,000 for illegally offering an interest in the company to the public. Senior District Judge Richard Magnus imposed the maximum fine on the company
      The Straits Times  -  440 words
    • Article, Illustration
      Lock icon New Law Society chief welcomes foreign talent
      436 6  -  nana By Conrad Raj SINGAPORE'S move to open the doors of the legal sector will help strengthen it through the infusion of foreign talent, says the newly-elected president of the Law Society, criminal lawyer R Palakrishnan. "The government's move to liberalise the legal
      FILE PHOTO  -  436 words
    • Article
      Lock icon Changi Heights Phase 2 to be launched at lower prices
      281 6 ANOTHER 24 homes at Ban Hin Leong group's Changi Heights project are being launched today, at prices lower than during the first phase launch three years ago. Changi Heights is built on an elevated plot close to the corner of
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    • Article
      Lock icon Mahathir statement on Clob shocking
      221 6  -  Steve S K Yeo Singapore I AM shocked to read the statement made by Malaysian Prime Minister Mahathir Mohamad as reported in BT on Dec 31. He seems to think that all Clob investors who bought Malaysian shares should lose money. He also stated that
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      Lock icon Page 6 Advertisements Column 1
      515 6 Since 1828 BOUSTEAD SINGAPORE LIMITED (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an EXTRAORDINARY GENERAL MEETING of the Company will be held at 63 Übi Avenue 1, #06-01 Boustead House, Singapore *****7 on 26 January 2000 at 10.00 a.m. for the
      515 words
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      36 6 You can email us at btletter@sph.com.sg or fax to us at *****71, or mail your letter to The Business Times, Times House, 390Kim Seng Road, Singapore *****5. Please give your full name, address and telephone number;
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  • REGIONAL news
    • Article
      Lock icon Estrada to name new economic team today as four quit Cabinet
      507 7  -  President also to announce formation of an economic snperbody From. Al Labita in Manila AMID charges that the economy is drifting, and his administration is bereft of ideas, President Joseph Estrada is to name today a new team of
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    • Article
      Lock icon Brunei's Timothy Ongis Asia Inc's new owner
      337 7  -  SINGAPORE w Catherine Ong ASIA inc, tne regional business magazine founded by Thai entrepreneur Sondhi Limthongkul, has changed hands again. The new owner is Timothy Ong, a prominent businessman from Brunei who is currently chairman of the Apec Business Advisory Council and a
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    • Article, Illustration
      Lock icon Protesters call for holy war in Moluccas
      404 7 JAKARTA Reuters AT least 10,000 Indonesian Muslims yesterday gathered in Jakarta to demand a holy war against Christians in the devastated Moluccas islands as the navy blockaded waters there to prevent violence from spreading. Chanting "jihad! jihad?' (holy war) protesters carrying various Muslim
      Reuters; AP  -  404 words
    • Article, Illustration
      Lock icon M'sian property industry loses a soft-spoken giant
      320 7 OBITUARY Sel&ngor Properties chairman TK Wen dies at 75 [KUALA LUMPUR] The nation's property industry has lost a gentle giant with the death of Selangor Properties Bhd group chairman Wen Tien Kuang. Better known as TK Wen, he passed away on Tuesday after
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    • Article
      Lock icon Metrobank acquires control of Solidbank to keep lead position
      267 7 MANILA Bloomberg METROPOLITAN Bank Trust Co paid 6.77 billion pesos (*****.7 million) for more than half of Solidbank Corp, an institution it needs to control to maintain its position as the Philippines' largest banking group. Metrobank bought the stake, equivalent to
      Bloomberg  -  267 words
    • Article
      Lock icon IMF labels Asia's rebound from collapse spectacular
      408 7 WASHINGTON Recovery can be sustained if there are greater capital flows, says Fischer Bloomberg ASIA'S rebound from a neareconomic collapse has been "spectacular", with even the hardest-hit country, Indonesia, showing signs of growth, a top International Monetary Fund official said. "The Asian recovery
      Bloomberg  -  408 words
    • Article
      Lock icon Dr M calls for Malay unity, warns of recolonisation
      204 7 KUALA LUMPUR AFP MALAYSIA'S Prime Minister Mahathir Mohamad yesterday greeted the Muslim Aidil Fitri festival with a call for Malay unity as he renewed his warning of attempts to recolonise the country. In a message broadcast nationwide on the eve of
      AFP  -  204 words
    • Article
      Lock icon China dismisses report of Microsoft Windows ban
      290 8 BEIJING Reuters CHINA forcefully denied yesterday that it had banned Microsoft's Windows 2000 operating system from government computers. The Ministry of Information Industry said it was making "this special announcement to set the record straight" after an official newspaper said on Wednesday that
      Reuters  -  290 words
    • Article
      Lock icon TSMC to buy rival chipmaker Worldwide via share swap
      503 8 TAIPEI Acquisition will bring badly needed capacity to cope with hot global demand; TSMC's 1999 sales np 45.6% to NTs73.lb Reuters TAIWAN Semiconductor Manufacturing Co (TSMC), rolling in profits but starved for capacity, said yesterday it was buying rival microchip foundry
      Reuters  -  503 words
    • Article
      Lock icon Taiwan exports soar 22% on electronics sales
      326 8 TAIPEI Bloomberg TAIWAN'S exports surged 22.1 per cent in December fuelled by strong demand for the island's electronics and telecommunications equipment. Exports last month rose to US$ll.O4 billion (5518.3 billion), the Ministry of Finance said, with the gain matching the 22 per cent
      Bloomberg  -  326 words
    • Article, Illustration
      Lock icon KMTs experiment with democratisation
      1009 8  -  Experience holds powerful lessons for Asia karim raslan The writer is a KL based lawyer and writer HERE are no special Asian W H values!" he said firmly, "My HI mission is to institute democratic reform. Now I would like to consolidate it here in Taiwan."
      REUTERS  -  1,009 words
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      Lock icon Page 8 Advertisements Column 1
      1804 8 I NOTICES To advertise call toll tree 1800 741 1883 Fax No. 741 1298 In the matter of the Companies Act Cap 50 and in the matter of FINE ARTS HERITAGE (S) PTE LTD (In Members' Voluntary Liquidation) FINAL MEETING NOTICE IS HEREBY GIVEN, pursuant to Section 308 of the
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      315 8 IN THE MATTER OF THE COMPANIES ACT CAP. 50 ANO IN THE MATTER OF HOK LINE PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF SPECIAL RESOLUTIONS At an Extraordinary General Meeting of me Member* erf the Company duiy convened and held at 19 Keppel Road. #09-07 jit Pon Building, Singapore
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  • WORLD news
    • Article
      Lock icon Market gurus see muted growth in stocks this year
      497 9 NEW YORK Tech stocks will make less of a splash: analysts Reuters INVESTORS should expect more modest gains from the US stock market this year after its spectacular run-up in 1999, with technology stocks making less of a splash, a panel
      Reuters  -  497 words
    • Article
      Lock icon What they say
      103 9 'We won't see a spectacular year, but I am more bullish than others.' —Philip Orlando, who heads investment strateg at Value Line Asset Managemer There is an extraordinary level of complacency on the part of most investors. Most people think when they walk into a Charles Schwab
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    • Article
      Lock icon Retiree wins
      130 9 [NEW YORK] Pensioner Robert Richard Tokarchek, who won US$l million (Ssl.7 million) in a contest to guess the close of the Dow Jones industrial average on Dec 31, 1999, has no plans of becoming a professional market watcher. "I retired two years ago, and I think I'll retire
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    • Article
      Lock icon for predicting 1999 Dow close
      123 9 Reuters Mr Tokarchek the money in instalments during the next 20 years without interest. Mr Tokarchek, who opened an online trading account for the first time last year, said he planned to use /his winnings to buy a condominium or mobile home in Palm Springs,
      Reuters  -  123 words
    • Article, Illustration
      Lock icon NYSE welcomes a distinguished visitor
      87 9 [NEW YORK) Former United States treasury secretary Robert Rubin (centre) talking with New York Stock Exchange chairman Richard Grasso (right) as specialist Todd Christie (left) of Spear, Leed Kellogg works on the floor of the New York Stock Exchange on Thursday. Mr Christie trades shares
      REUTERS  -  87 words
    • Article
      Lock icon Merrill probes 'illegal transfer' of US$40m
      434 9 NEW YORK Internal papers suggest problems with supervision and controls, says FT FT MERRILL Lynch, the US investment bank, is investigating an alleged fraud involving the illegal transfer of US$4O million (5566.4 million) of one of its clients' funds into a Swiss bank account.
      FT  -  434 words
    • Article, Illustration
      Lock icon Lucent shares dive on profit warning
      296 9 MURRAY HILL, New Jersey Bloomoerg LUCENT Technologies Inc said its fiscal first-quarter profit fell and sales were little changed, sending its shares plummeting 25 per cent. Lucent's first profit warning since its spinoff from AT&T Corp in 1996 stunned investors, who had benefited from
      Bloomoerg; Source: Bloomberg  -  296 words
    • Article
      Lock icon Govt may let chaebol own banks
      192 9 SEOUL Bloomberg SOUTH Korea's government said it may let its industrial groups, known as chaebol, take controlling stakes in local banks, though they would be banned from using them as private funding sources. When the Asian financial crisis erupted in 1997, many Asian banks
      Bloomberg  -  192 words
    • Article
      Lock icon Paper-free books from Microsoft, barnesandnoble.com
      375 9 I NEW YORK Microsoft V-P sees sales of electronic books hitting USslb in three to four years Reuters IF you claim you've always wanted to read War and Peace, but dreaded lugging around the 700-page Russian epic, you may need a new excuse. On Thursday,
      Reuters  -  375 words
    • Article
      Lock icon GM to use Sony's 'memory stick' to develop e-vehicles
      250 10 TOKYO Bloomberg GENERAL Motors Corp (GM), the world's largest automaker, will work with Sony Corp, a Tokyo-based electronics and entertainment company, to develop "e-vehicles" with Internet access, the two companies said. GM will use Sony's "memory stick", an integrated circuit storage
      Bloomberg  -  250 words
    • Article, Illustration
      Lock icon Open support
      39 10 [MELBOURNE] World No 1 Andre Agassi and girlfriend Steffi Graf having a break at the Melbourne tennis centre after a work out on Thursday. Graf is in Melbourne to support Agassi in the upcoming Australian Open. AP
      AP  -  39 words
    • Article
      Lock icon US chip designer files patent suit against 13 top Asian chipmakers
      487 10 NEW YORK The case involves core chip-making, flat-panel display technologies Reuters TWO Long Island technology licensing companies controlled by a US computer chip inventor revealed on Thursday they have filed a suit against 13 top Asian semiconductor makers alleging
      Reuters  -  487 words
    • Article, Illustration
      Lock icon Kohl's party struggles to campaign amid scandal
      365 10 BERLIN AP SEEKING to revive their political fortunes, Germany's Christian Democrats began an anti-tax campaign yesterday they hope will end weeks of paralysis resulting from a money scandal that has triggered a criminal probe against former chancellor Helmut Kohl. By opposing the unpopular
      AP  -  365 words
    • Article
      Lock icon G-7 deputy finance chiefs meet this weekend
      377 10 TOKYO Ten-dollar rate seen among major topics on agenda Bloomberg, Reuters DEPUTY finance ministers and central bank governors of the Group of Seven major industrial nations will meet in Tokyo this weekend, Finance Minister Kiichi Miyazawa said. The deputy chiefs usually gather before
      Bloomberg,; Reuters  -  377 words
    • Article
      Lock icon US drafts US$2b plan to counter cyber-terrorists
      285 10 m WASHINGTON Reuters THE White House was yesterday planning to announce new steps to protect America's computer systems from hackers and viruses, including subsidising college costs for computer students who agree to work for the government. "Now that we've made it through the
      Reuters  -  285 words
    • Article
      Lock icon German Nov orders boosted by foreign demand
      394 10 BERLIN Reuters GERMAN industry booked a surprisingly strong 1.2 per cent increase in orders in November, which analysts said yesterday boded well for a powerful recovery in Europe's biggest economy as a whole. The Finance Ministry noted that a seasonally adjusted 3.8 per
      Reuters  -  394 words
    • Article
      Lock icon IMF economists agree euro is undervalued
      277 10 LONDON FT A GROUP of International Monetary Fund economists has joined the debate over the appropriate valuation of the euro, with a new report supporting the view that the currency has been substantially undervalued against the dollar since its creation just over a year
      FT  -  277 words
    • WORLDWatch
      • Article
        Lock icon Sony shares dive after Idei's comments
        61 10 AFP [TOKYO] Sony Corps stock plunged 7. a per cent yesterday morning after its president Nobuyuki Idei was quoted as saying the shares were overvalued, dealers said. The Japanese electronic giant's stock fell by the maximum permissible daily limit to end the morning session
        AFP  -  61 words
      • Article
        Lock icon Mannesmann pretax profit up slightly
        63 10 Bloomberg [FRANKFURT] Mannesmann AG, which is fighting a US$l4B billion (***** billion) hostile takeover bid by Vodafone Air Touch pic, said yesterday that full-year pretax profit rose slightly to 1.4 billion euros (552.39 billion) from 1.3 billion euros a year earlier, including a 100 million
        Bloomberg  -  63 words
      • Article
        Lock icon SAP's Q4 pretax doubles, sales up 20%
        60 10 Bloomberg [WALLDORF, Germany] SAP AG, the world's largest maker of business-management software, said yesterday that fourth-quarter pretax profit doubled from a year earlier as sales rose 25 per cent. Pretax doesn't include 120 million euros (Ss2os million) in provisions for bonuses paid to
        Bloomberg  -  60 words
      • Article
        Lock icon Lloyds' Pell quits to Join NatWest
        59 10 Bloomberg [LONDON] Lloyds TSB Group pic, the UK's second-biggest bank, said yesterday that Gordon Pell, head of the bank's retail business, had quit to take a job at rival National Westminster Bank pic. Mr Pell, 49, will become chief executive of Nat West's UK
        Bloomberg  -  59 words
      • Article
        Lock icon Dutch flu oould hit 20% of population
        60 10 AP l AMSTtKUAMj Heaitn oniciais saia yesieraay inai a nu epidemic sweeping the Netherlands could infect up to 20 per cent of the country before winter ends. The eastern provinces have already reported high numbers of infections, registering up to 26 cases per
        AP  -  60 words
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  • FINANCE & commodities
    • Article
      Lock icon Late bout of selling pares gains in futures
      236 11  -  SGZ Derivatives Tradtngßeports MSGI Sineaoore Index Daphne Tay Jardine Fleming AFTER a heady week of volatile trading, the Singapore stock market closed higher yesterday backed by late buying in selected blue chips. Volume was moderate with investors remaining cautious ahead of the
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    • Article
      Lock icon Futures lower as sentiment turns bearish
      205 11  -  MSCI Taiwan futures Matthew DenBleyker Refco Singapore SIMEX MSCI Taiwan Index futures yesterday declined 1.4 points or 0.35 per cent to 400.4 and the underlying MSCI cash index fell 5.66 points or 1.4 per cent to close at 399.2 as Taiwanese retail investor sentiment
      205 words
    • Article
      Lock icon Crude oil rises after high winds halt North Sea loadings
      226 11 ENERGY REPORT Bloomberg (NEW YORK] Crude oil rose for the first time in a week as 70-mile-an-hour winds in the North Sea stopped tankers from loading shipments that represent almost 3 per cent of world supply. Statoil AS, Norway's stateowned
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      Lock icon CURRENCY REPORT
      317 11 Bloomberg New York THE dollar yesterday gained against the euro as US stocks were expected to rise, boosting demand for the currency, following a report on US jobs and wages for December. "What traders are looking at is that stocks really held in there," said Jay Bryson, an
      Bloomberg  -  317 words
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      1273 11 MTERBAMK CROSS RATES A$ C$ Bmb Euro Ffr Pw HK$ tnd »s hipiah Von Won RM WZS Pafc Bs Peso S$ Rand Sfr WT$ Pound US$ Australia 0.955 6.178 0.635 4.164 1242 5.087 28.459 46.859 0.689 7.441 2.485 1.*****.908 26.389 1.087 3.974 1.019 20.186 24.469 0.398 0.654 Canada 1.048 5.688
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      1943 11 groOM FUTURES -Ian 7 RUBBER (futures closinq as at 5.30pm) RSS1 CONTRACTS cwtsAq) Clow Volume OpM Month High Low Sttt (taws) Interest Feb 00 102.50 900 Mar 00 105.50 100 Apr 00 109.50 May 00 112.00 RSS 3 CONTRACT (US c«*s/m) VolWM OpM Month Htqh Low Sett (tonnes) Interest Feb
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  • STOCKS east asia
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      Lock icon HK closes higher, ending streak of heavy losses
      2873 12 HONGKONG Reuters jl| Hang Seng ♦252.4 HONGKONG stocks closed higher yesterday, ending a three-day losing streak, helped by another overnight rise in the Dow Jones Industrial Average. The Hang Seng Index closed up 252.4 points, or 1.67 per cent, at 15,-105.63. Turnover
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      Lock icon CHINA
      1022 12 Reuters PI Shenzhen B Index +4J6 SHENZHEN'S hard currency B shares closed up 5.3 per cent yesterday as funds fleeing volatile Hongkong stocks entered the market, brokers said. Heavy gains in Shenzhen's domestic A shares also gave the B share market a boost, they said. The B index rose
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  1,022 words
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      Lock icon TAIPEI
      370 12 AFP wp Index -7&56 TAIWANESE share prices closed 0.9 per cent lower yesterday on profit-taking sparked by Nasdaq's overnight falls, dealers said. The market plummeted as much as 2 per cent in the early session led by technology shares, but buying of nonelectronics industrials later helped recover some losses
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      Lock icon Nikkei up 0.1%; high-techs still hit
      2066 12 TOKYO AFP £3 Nikkei 225 +25J4 DEMAND for banking and steel issues helped Tokyo share prices rise 0.1 per cent yesterday, but high-techs remained under pressure after another heavy fall on the Nasdaq, brokers said. The Tokyo Stock Exchange's Nikkei average of 225 selected
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  • SGX clob & regional stocks
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      2921 13 BONDS WARRANTS m antfi itm JiT***lm Um—i Hr rooo! lot s««*r mU <«■»*> ,MI,n T 1441 .04 10.5 S 3160 "Acer ******1 US$__ Z.— II40.5 unch 5 405 40 5 40.5 4L5 6 »J J ,V, 3« J® 80 14.5 S 3164 Acme ******4433 IS 252 44 43 43 5
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      Lock icon SEOUL
      308 13 AFP Q Composite Index -12J4 THE Korea Stock Exchange Composite Index yesterday closed down 12.14 points at 948.65. Volume was 213.8 million shares worth 3.7 trillion won. AFP J«n 7 Wti *h AnamSaml MSO 350 BfMiTtth 2039 175 C»ntr»i Bonk 3349 435 CrwiComm ***** 2000 DMCu8«nk 3300 *0 0**t«ng
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      Lock icon WELLINGTON
      273 13 AFI □Wellington *1153 THE New Zealand share market made an indifferent start yesterday before overcoming mixed signals from offshore to close 0.9 per cent higher, dealers said. The NZSE-40 Capital Index added 19.53 points to close at 2,144.96. Turnover was light at NZ$B5 million. AFP JKT (000) Advantage MO$
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      Lock icon SYDNEY
      593 13 AFP AP Ordinaries +M.4 THE Australian share market climbed 0.5 per cent yesterday, benefiting from heavy afternoon buying of resource stocks although technology stocks fell further, brokers said. The All Ordinaries Index ended 14.4 points firmer at 3,044.50 points, its first close in positive territory all week. The All
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      Lock icon BANGKOK
      798 13 AFP HSET lata +M 5 THAI stocks rebounded 2.2 per cent yesterday after two days of heavy losses, spurred by better regional sentiment. The Stock Exchange of Thailand Index added 9.85 points to finish at 453.31. In all, 117 shares added value, 83 fell back and 66 stocks were
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      Lock icon MANILA
      276 13 AFP Manila +15J8 THE Philippine stock market closed 0.7 per cent higher yesterday in reaction to the recovery of the US stock market after its plunge earlier this week, analysts said. The Philippine Stock Exchange Composite Index rose 15.18 points to close at 2,094.29. AFP Jan 7 Ptso <000)
      AFP  -  276 words
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      42 13 The Jakarta market was etoaed yeaterday Classified First. £r V Need to get something fixed? Or simply seek out a good buy? Your best bet: Check The Straits Times Classified First. ff& i CATS. I Buy It. Srf K. Find H. C
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    Lock icon STOCKS sgx
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      476 15 <!)£££&• *171 a l* 1 ..i ..i n pmmed Diners Club Diners Club Credit Card I^ ply :^f e Where to dine dlld entertftlllM* InternationaT .off er j„gthe lowest interest rate in town 290 454 Enjoy our ever-popular Japanese favourites for lunch and in the evening, tuck in to a
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      818 15 3.00 Holiday Variety Spe Prime 12 3.00 News Day. cial; Extremely Come- 9.00 AM Irama Hari Raya 3-30 Floyd Uncorked. 0.00 AM Holiday Special: dy. 2000. 4-00 Headline News. People Places: Lost 4.00 King of The Hill. 10.00 Hari Raya Children's 4.03 Tomorrow Today. Tribes of the Forest. Home Improvement.
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      326 15 CRYPTIC CROSSWORD ACROSS 6 Throw money in hat to show ap--1 I'd need credit to put in second P roval W computer (5) 7 makes graduates ill at ease 4 An unhappy lot of these officers? #gj 8 Simpleton to do2e at both ends of 9 Don't agree on date
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  • TheArts
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      Lock icon Unmasking Vollard
      221 16  -  The collection of a Parisian art dealer gives colourful insights into his private world as well as the world of art that surrounded him and which he helped to shape, paryathi kayar reports PARYATHI NAYAR fIBRT must constantly be on the move, travel and seek new environ- ments,"
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      Lock icon His many faces
      422 16 ONE of the paintings in Unmasking Vollard is a portrait by Louis Valtat of Ambroise Vollard reading a book, surrounded by paintings. It is a perfect comment on the man and his times Paris in its hey-dey as the European hub of art. If it was the
      422 words
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      Lock icon The collection: A window into the past
      454 17  -  COVER STORY Reports by Parvathi Nayar Report* by Parvathi Nayar Without a doubt, the Vollard Collection is important in many ways. "With more and more Singaporeans actively involved in collecting art, The Business Times felt it was important, even inspirational, to support an
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      Lock icon The works: inspirational pieces
      628 17 The artworks, says Ms Tan, are "attractive and easy to appreciate. That is pivotal, the key to the show. They are also fairly small and therefore accessible rather than imposing." So let's switch off our handphones and switch on our ability to be inspired. Here's a
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      Lock icon The exhibition: Personal, yet influential
      207 17 The exhibition offers an important insight into the Avant-garde, the turn-of-the-century art movement that struck out in bold new directions, marking the evolution of art before Modernism, says Bridget Tracy Tan, assistant curator of SAM, who is putting together the Singapore segment of the travelling
      207 words
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      Lock icon Making a splash and a material difference
      491 17  -  ART A new work by Gob BengKwan will adorn Promenade shopping centre Byl* Ling Su Ann SITUATED in the heart of Orchard Road, Promenade shopping centre will get an exciting splash of colour with a 24m by 7m painting by wellknown abstract artist,
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      Lock icon THE PROGRAMME
      1280 18 Compiled by M Yasotha/ Parvathi Nayar PERFORMANCE Pontlanak Mime Unlimited's production about a resolutely rational man who hides his superstitions behind a facade before his curiosity gets the better of him. Cast includes Wong Young Tseng, Serena Ho and Natalie Hennedige. Directed by Christina Sergeant. Jan 13-15, 7.30pm
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      Lock icon Spotlight
      169 18  -  -By Parvathi Nayar Tht km How would you like your art? Latte-, Espresso- or Cappuccinostyle? Flat ud players: Ann Healey is an artist who mixes coffee with more traditional painting materials like acrylic and varnish to create mixed media work. She is also an artist who tries to capture
      169 words
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      Lock icon Looking through Scandinavian eyes
      1071 19  -  The Nordic Film Festival focuses on childhood, and individuals adapting to society, susamtsakg gives a preview SUSAN TSANG IF you thought Nordic films were all Ingmar Bergman, the upcoming Nordic Film Festival will give you some exposure to what Scandinavian filmmakers have been up to from
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      Lock icon Mr Beng dares to be different, but lacks punch
      556 19  -  THEATRE A worthwhile effort, hot the trilingual musical tries to accomplish too much By P Parvathi Nayar Mr Beng A Trilingual Musical by Drama Box, which premiered last year to three sold-out performances at the Singapore Arts Festival 99, is currently
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      Lock icon Exploring a versatile nature
      1768 20  -  Sculptor Han Sai Por tells jame EE about her return to an old love. She also explains quietly why she finds working here lonely sometimes, and offers ideas on how to increase local appreciation JAIME EE SCULPTOR and Cultural Medallion winner (1995) Han Sai Por never
      PHOTOS BY CHRIS LOH  -  1,768 words
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      59 18 The Average Size and Performance of a PruLink Fund. JH mm :4 s® A PruLink Singapore Managed Fund IgMj^ the largest unitised fund in Singapore. -U V An unbeatable record with over $730 million 5* ?2kfia£rt£* hBtSHi invested by 90,000 people since its launch in 1992. Probably the best managed
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