The Business Times, 27 May 2000

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Microfilm: NL21805
Total Pages: 22
1 22 The Business Times
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  • Title Section
    Lock icon Masthead
    12 1 THE BUSINESS TIMES MITA (PHjaso2/1999 85C' SINGAPORE MntemetMTttp^^ SATURDAY, MAY 27, 2000
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  • Article
    Lock icon MARKET SUMMARY
    64 1 sn ÜBaOJR (-29.61) BT-SSI SB3J3 (-11.94) SSMSCI FUTUIES 243J0 (-4.10) STOCK MAEKET INDICES Friday Change K&tcm ***** -1434 NIKKEI 1M08.14 —-239.88 HANGSENO 15,*****—-***** SET INDEX 813.08 +&85 JAKARTA COUP —482.07 -Ml MANILA COMP _1.427.26 +0.64 TAIPEI WPI 8,869.46—+***** SEOUL COUP 666.66 -4187 CLSA CHINA B ***** +7.78 AUSTALLORD—*****
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  • Article
    Lock icon FINANCE
    77 1 FOEEX BATES uss s$ US$ 1738 SflJSaWper S) 1474 1»4 KI RO(l'S&SS.E) tl-915 1-585 DM__ M»r^_<L811 YEN 107J RM 1800 0 «6 HKS 7.790 0-223 BAHT 39.08 0.044 RUP1AH 8,479— 0.020 St to in units PRIME RATES SINGAPORE* 6.88 KUALA LUMPUR 7.67 JAKARTA JJ.00 BANGKOK J.80 MANfLA 11.00 HONGKONG
    77 words
  • Article, Illustration
    Lock icon HK raises growth forecast to 6% on sterling Q1 growth
    696 1  -  14.3% GDP growth is the highest in almost 13 years From Quak Hiang Whai in Hongkong ENCOURAGED by the fastest quarterly growth rate in almost 13 years, the Hongkong government yesterday lifted its full-year forecast for the economy by one
    Source: Bloomberg  -  696 words
  • Article, Illustration
    Lock icon Electronics firms look abroad to stay competitive
    792 1  -  ■TMiUiimm Only 40 per cent thought e-commerce would be a viable strategy: survey By* Anna Teo [SINGAPORE] Hit by price competition, Singapore's electronics manufacturers are looking to invest overseas, outsource or acquire companies in a bid to stay competitive. Venturing into electronic commerce,
    Source: P  -  792 words
  • Article
    Lock icon Asian stock markets clouded by hazy US interest rates picture
    663 1 Most register declines, waiting for clear signs of Nasdaq recovery: analysts [SINGAPORE] Most of Asia's stock markets, already labouring under poor sentiment, sank further yesterday after the Nasdaq and the Dow logged 2 per cent falls overnight. Taiwan, Thailand and
    663 words
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      Lock icon Page 1 Advertisements Column 1
      84 1 DfSTOE BT Comment Don't withhold material info in Keppel Harbour deal, says Lee Han Shih. Pg 3 Top stories US durable goods orders plunge 6.4% in April. Next Pago S'pore manufacturing output up 9.5% pApril. Nmrffage —iV prep2wed.com: Singapore's first online wedding planner. Nmxt Page Fu family buys another 8.32
      84 words
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      Lock icon Page 1 Advertisements Column 2
      30 1 UgaHjP^tt|HL "3.. IT > I m IM rfV PWILi 11 B St I I 1 ■I (m h| r JPe psf launch price I W9 for Costa del Sol ■Pg 6
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      65 1 VVj n LA iV« 1 l i i H Ir. JM 1 1 lA\ I I k J^ Ml C I j|l I m V /o%f I I' Br r V VI H B 4-z'4t4f** :y I Singapore Arts Festival, EL2 I S'pore market still besieged despite Sing Tel, Venture
      65 words
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  • NEXT page
    • ON THE grapevine
      • Article
        Lock icon Don't leave home without them
        103 2 ABN-Amro has started to sell Visa traveller's cheques at its two branches at Raffles Place and Chulia Street. With the popularity of credit cards, who uses traveller's cheques these days? Apparently, many still do as there are still many places that do not accept credit
        103 words
      • Article
        Lock icon A lesson there somewhere
        55 2 IT'S not a promising start. A tutoring centre which has just established "an international educational portal" invited us to its launch on Wednesday. Using snail mail, its invitation arrived only yesterday. It also said "invitation card attached", but there wasn't one. i-tutor.net Pte Ltd's new service
        55 words
      • Article
        Lock icon No bull
        220 2 HOW many stockmarket analysts are able to issue downbeat reports on the sector they cover? Better still, how many can issue negative reports on the very business that pays their salaries that is, stockbroking? Not many, judging by the relatively small number of "sell" reports we see compared
        220 words
      • Article
        Lock icon The inside story
        99 2 TIMING is everything. Paul Allen, co-founder and director of Microsoft, raised US$3.B billion (yes, billion) during the fourth quarter of 1999 and the first quarter of 2000 by selling Microsoft shares. Had he sold a few weeks later, after the recent anti-trust judgement, he would have raised
        99 words
      • Article
        Lock icon Moving with the times
        72 2 THE Infocomm Development Authority's new office at Suntec City has a funky look and feel about it, with bright green and orange furniture and Coke machines and bright lights. This is a far cry from its former headquarters in a century-old monument at Robinson Road built
        72 words
    • Article
      Lock icon US durable goods orders plunge 6.4% in April
      685 2 This is steepest fall in over 8 years, suggests higher rates are starting to bite Bloomberg, Reuters [WASHINGTON] American durable goods orders plunged unexpectedly by 6.4 per cent in April, the steepest drop in more than eight years, suggesting that higher interest
      Bloomberg,; Reuters  -  685 words
    • Article
      Lock icon S'pore manufacturing posts strong growth
      404 2  -  Electronics boosts sector to 9.5% growth ill April despite poor exports By Audrey Tan [SINGAPORE] Singapore's manufacturing output rose 9.5 per cent in April despite the poor export performance in that month, as the electronics segment continued to power ahead. The April data was slightly
      404 words
    • Article, Illustration
      Lock icon First to prep2wed, then down the aisle
      863 2  -  There's now a Web site for couples preparing for the perfect day, writes Corlnne Kerk Corinne Kerk [SINGAPORE] Necessity may be the mother of invention, but for some people, so is frustration. Just ask Melvin Goh, 25, and his fiancee, Patricia Lim, 26.
      ARTHUR LEE  -  863 words
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  • SINGAPORE companies
    • Article, Illustration
      Lock icon Vickers scrambles to keep merger with GK Goh on track
      345 3 It has asked to meet with Ong Beng Seng, who is against the move, to win him over Bloomberg, Reuters [SINGAPORE] Vickers Ballas Holdings, Singapore's largest stock brokerage, is trying to salvage its merger with GK Goh Holdings, after hotelier
      Bloomberg,; Reuters; FILE PHOTO  -  345 words
    • Article
      Lock icon Fu family buys another 8.32m HPL shares
      412 3 Purchases over 3 days come amid talk of hostile bid from Hong Leong THE Fu family has strengthened its hand in Hotel Properties (HPL) even as it battles the Hong Leong Group to retain control of the locally-listed hotel and property group. HPL
      412 words
    • Article
      Lock icon Don't withhold material info in Keppel Harbour deal
      648 3  -  HOCKiTWii^mUi lee han shih THIS must be one of the worst disclosure attitudes among listed companies. Keppel Land has agreed to take a 30 per cent stake in the single biggest housing project in Singapore. But its directors do not think it
      648 words
    • COMPANYBriefs
      • Article
        Lock icon Philip Yeo joins UOB board
        46 5 EDB executive chairman Philip Yeo and former MAS deputy MD Koh Beng Seng have been appointed ot the boards of United Overseas Bank, Industrial Commercial Bank and Far Eastern Bank. Mr Koh was recently appointed deputy president of the UOB group.
        46 words
      • Article
        Lock icon LTA plans $500m bond issue
        85 5 Bloomberg THE Land Transport Authority said it plans to sell $500 million of bonds to fund expansion of the city-state's railways and highways. The state-run agency named JP Morgan Co and OCBC Bank to jointly manage the sale of the 10-year bonds, which would be
        Bloomberg  -  85 words
      • Article
        Lock icon InnoMedia stalls plans to go public
        83 5 Reuters SINGAPORE Internet telephony firm InnoMedia Pte Ltd is stalling plans to go public because of market volatility, chief executive officer Ng Kai Wa said yesterday. "We would like to go as soon as possible when the time is right but the time doesn't
        Reuters  -  83 words
      • Article
        Lock icon KLW sees $12m profit from new plant
        40 5 KLW Holdings Ltd., a Singapore-based maker of wooden doors and frames, said its new plant will contribute $12 million to earnings next year, as it expects to sell more to companies overseas. Reuters
        40 words
      • Article
        Lock icon Ebbis aims to raise $20-$30m from IPO
        92 5 Reuters REAL estate services firm Ebbis Pte Ltd hopes to raise $20-$3O million in an initial public offer that will propel its global expansion, chief executive officer Ryan Siek said yesterday. It would go ahead with plans to apply next week for a
        Reuters  -  92 words
    • Article, Illustration
      Lock icon CCL shares fall below $4 on Astra link, new import rules
      424 5  -  Indon instability, exposure to weakening rapiah; firm's gearing cited By Christopher Tan BLUE chip Cycle Carriage's induction into Indonesia's Astra International took a nasty turn yesterday when news of fresh instability in the country hammered its share price to
      Source: Bloomberg; AFP  -  424 words
    • Article
      Lock icon Corporate governance practices to be surveyed
      338 5  -  By Ling Su Ann THE Singapore Institute of Directors (SID) and headhunting firm Egon Zehnder International are tying up to carry out the first survey of corporate governance practices including directors' fees in Singapore. Survey forms will be sent out to almost 400 chairmen
      338 words
    • Article
      Lock icon MPH, Simon Cheong deny Aussie probe
      335 5  -  Cheong says they are not in breach; has taken legal advice Ry Conrad Raj BOTH MPH and savvy property trader Simon Cheong denied yesterday that they are the subject of any probe or investigation by the Australian authorities. The listed book publisher and retailer,
      335 words
    • Article
      Lock icon BT SHARE information service
      5226 5 •tot Mm CM NOt. Mar 27 P (99.072 423.201 17.5 99L Ort, ty LY TY LY Nobel MvM P t.936 1.334L 184 UL 22= 22 ElLiS™ OafcweKEngq Mar 31 P 2.171 0.622 2.71 0.78 ACE DynemiCJ Mar 23 P 0.797 0.758 0.90 0.99 Y,nl P ifS-a
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  • Page 3 Advertisements
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      Lock icon Page 3 Advertisements Column 1
      85 3 iiffiM Voted the most beautiful estate in the world by Auto Revue magazine, the new Volvo V7O has room enough TpP' 6 P M w- JHfv for all your social life. Test drive one today and discover how it holds the road like it holds peoples' attention. Hi^l i *UL
      85 words
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  • SINGAPORE markets
    • Article, Illustration
      Lock icon DB's OGBC wrt: 6 months left to bank on a recovery
      204 4  -  WARRANT WATCH By\ R Sivanithy BANKS have had a bit of a hard time recently for reasons no one seems to fully understand. The most popular explanation offered is that their shares are all widely held so when there's
      204 words
    • Article
      Lock icon Untitled
      485 4 9>octa Votame IPC020C 16,027,000 NOL 12,340,000 Omni Ind 10c 11,682,000 Nat Else 10c 10,234,000 ST Engg 10c 9,252,000 MediaRinglOc 7,844,000 SingTel 15c 7,327,000 PNE Ind 10c 7,261,000 IPCOWQ2 6,838,000 Times Pub 6,460,000 Slocfca DBSGrp 77,182.571 SPH 52,434,692 NatEleclOc 46,724,454 Chart Semiconductor 26c 34,567.460 VentureMfg25c 32,202,476 Times Pub 28,375,900 OCBC 28,125,088
      485 words
    • Article, Illustration
      Lock icon Market still besieged despite SingTel, Venture rebound
      560 4  -  CO -i 8 cn r.sivanithy A REBOUND in the Singapore Telecom and Venture Manufacturing counters yesterday helped to keep the Straits Times Index above the 1,800 level, but that still offered scant consolation to dealers who had to bear another day their seventh
      560 words
    • Article, Illustration
      Lock icon NOL: likely range-bound in near term
      231 4  -  HOT STOCK By Wong Wei Kong SHARES of national liner Neptune Orient Lines (NOL) bucked the general market weakness and rose yesterday, ending as the second most actively traded issue and among the biggest gainers. NOL shares rose 7 cents or 5.2 per cent
      231 words
    • Article
      Lock icon Market Notices
      159 4 ♦TLB Land will be trading ex-dividend (final dividend of 1 cent) on June 15. Last day for buying-in on a cum basis is on June 20. Date payable is on June 29. ♦ASJ Holdings will be trading ex-dividend (first and final dividend of 0.75 cent) on June 6.
      159 words
    • Article, Illustration
      Lock icon US$ trims gains, euro up
      392 4  -  CURRENCIES larry wee THE US dollar slipped in Asian trading yesterday, and the euro was the biggest beneficiary despite the European Central Bank holding rates steady after their Thursday meeting. Overnight weakness on Wall Street was one reason, with pre-weekend prof-it-taking on the greenback's recent
      Source: Reuters  -  392 words
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      Lock icon Page 4 Advertisements Column 1
      257 4 -uuii't a. <40 000 TT iwf course The Henley Management College, together with British Telecom and The Business Times, is offering one BT reader a place on the Henley Executive Development Programme. The $40,000 three-week residential course at the UK college runs from Sept 11 to 29. The programme aims
      257 words
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      Lock icon Page 4 Advertisements Column 2
      25 4 > Do you need flexible financing for your share purchases 7 Cal! us at 323-3955 and find out what we can do for you ©DBS BANK
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  • SINGAPORE news
    • Article
      Lock icon Costa del Sol surprises with $765 psf launch price
      494 6  -  Price expected to be $800-$B5O psf; Li Ka-shing company to continue to build up Singapore l&ndb&nk By Andrea Tan LI Ka-shing's Cheung Kong group yesterday launched its condominium project in the East Coast area at a lower-than-expected price averaging $765 per
      494 words
    • Article, Illustration
      Lock icon New committee to freshen up Tourism 21 blueprint
      377 6  -  This will help S'pore become tourism capital ByA Audrey Tan A NEW 18 member steering committee made up of big names in the local hotel, travel, retail and entertainment trades has been set up to give the four-year-old Tourism 21 blueprint a
      FILE PHOTOS  -  377 words
    • Article
      Lock icon SilkRoute extends its reach
      402 6  -  By' Toh Han Shih SILKROUTE, a Singapore group of Internet companies, has recently invested "tens of millions" of dollars in technology firms in the Asia Pacific region. Along with D-Link and JIT Holdings, it recently sank US$B.5 million (5514.7 million) in Ehoo.net, a wireless Internet service
      402 words
    • Article, Illustration
      Lock icon Sandsational show
      56 6 [SENTOSA] A couple admiring a sand sculpture of a young woman by Spanish sculptor Etual Ojeda during a competition in the international category of Sentosa Sandstation 2000, at the Sentosa Island resort in Singapore on Thursday. Fifteen participants took part in the annual event where the winner will
      AFP  -  56 words
    • Article
      Lock icon Court orders winding up of Tong Tien See
      215 6  -  Provisional liquidator Yin is now the liquidator By Andrea Tan THE High Court yesterday ordered the winding up of beleaguered construction firm Tong Tien See. Yin Kum Choy, the provisional liquidator, was also appointed as the liquidator. He had replaced Pricewaterhouse Coopers
      215 words
    • Article
      Lock icon Raffles International opens training centre in Singapore
      284 6 The centre follows those set np in Hamburg, Cambodia. STAFF of Raffles International here will have their own school to go to for training Raffles International Training Centre, which was officially opened yesterday. Located at Beach Road, the training centre is the third
      284 words
    • Article
      Lock icon CityCab ride may cost more than one in a Comfort taxi
      326 6 YELLOW taxis could soon cost more than blue taxis, according to estimates based on fare adjustments announced yesterday by City Cab known for its sunflower-coloured cabs. The DelGro-owned operator will from June 26 revise its fare computation based on
      326 words
    • Article, Illustration
      Lock icon April visitor arrivals up 21.4%
      288 6  -  fty] Marissa Chew A SLEW of big events and conventions here last month gave a big boost to visitor, arrivals which rose 21.4 per cent to reach 636,656. The figure was a record high for the month of April, the Singapore Tourism Board said yesterday.
      Source: STB  -  288 words
  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      41 6 EARN MORE~E9IK9I invest offshore nnßi^BnEfiKil www.united-bank.net VHiMH HMIHH tel +423 230 0202 fax +423 230 0708 WfiM W* J(tf |WAM Mm EUR 25,000 or equivalent. Deposit rates linked to base rates Rates correct at press time. Not available tn some jurisdictions
      41 words
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  • MAIL bag
    • Article, Illustration
      Lock icon House and car prices: govt puts it in perspective
      538 7  -  Pek Beng Choon Director (Budget) for Permanent Secretary (Finance) Ministry of Finance IN his letter, "More Singaporeans should speak up" (BT, May 24), See Leong Kit condemned civil servants' "we-know-all, we-know-best and we-are-always-right mentality". The civil service does not cling to
      FILE PHOTO  -  538 words
    • Article
      Lock icon Cars, housing are lifestyle choices
      309 7  -  Pek Beng Choon Director (Budget) for Permanent Secretary Ministry of Finance Singapore I REFER to Edix Lim's letter "Cut housing costs to boost S'pore birth rates" (BT, May 26). His view on car ownership is a balanced one. Car ownership is an emotive issue. Like
      309 words
    • Article
      Lock icon Has article missed big picture?
      443 7  -  Jasen K S Chong Singapore via Internet I WISH to comment on Catherine Ong's Hock Lock Siew column, "Good for Virgin, but not for Sing Tel" (BT, May 23). Her article may have missed the big picture. Are the issues raised based on the "thin
      443 words
    • Article
      Lock icon Look after investing public, too
      132 7  -  Denis Distant Singapore Via Internet I REFER to the letter "Investors won't lose deposits" (BT, May 25) from Narayana Narayana and just hope the Singapore Exchange does not treat the issue of the security of deposits belonging to clients of broking firms as casually as
      132 words
    • Article
      Lock icon Great Eastern sheds light on bonus system
      385 7  -  Elaine Cheow Public Relations Executive Officer Great Eastern Life WE thank George Juay for his letter "Unhappy with insurance bonus reduction" (BT, May 23). It gives me an opportunity, without going into technical details, to explain how the payment for policyholders' bonuses works.
      385 words
    • Article
      Lock icon Combined Giro payment for property tax, TV licence
      307 7  -  Cecilia Yip Assistant Director (Public Relations) Singapore Broadcasting Authority WE refer to the letter "TV fees: review collection procedures" (BT, May 12) by Patrick CH Tan. We would like to clarify that, as a collecting agent of the Singapore Broadcasting Authority (SBA),
      307 words
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      36 7 You can e-mail us at btletter@sph.com.sg or fax us at *****71, or mail your letter to: The Business Times, Times House, 390 Kim Seng Road, Singapore *****5. Please give your full name, address and telephone number.
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      Lock icon Page 7 Advertisements Column 2
      1097 7 Svenska Handelsbanken (Incorporated in Sweden) Singapore Brancti 65 Chuka Street #21-00 OCBC Centre Singapore 0*9513. Telephone tot 65 *****00 Tele* RS ***** SHBSIN Tetetax W 65 *****09 General Manager MAJLISS OLSSON Balance Sheets 31 December Profit and Loss Accounts 1999 1996 1999 I®®® ASSETS SEK M SEK M ASSETS SEK
      1,097 words
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  • eNews
    • Article, Illustration
      Lock icon Targeting Asian startups now
      781 8 PALO ALTO, Calif Silicon Valley YCs drawn by high growth forecasts for Internet firms Bloomberg VENTURE capitalists from Silicon Valley, California, eager to repeat their successes from the Internet boom of the last two years, are turning to Asia, where economies are growing strongly, to finance
      Bloomberg; FILE PHOTO  -  781 words
    • Article
      Lock icon Green light for AT&T's plan to acquire MediaOne
      325 8 WASHINGTON Justice Department decision clears regulatory hurdle New York Times THE Justice Department on Thursday approved AT&T's proposed acquisition of the Media One Group, giving the telephone giant control over more than a third of the nation's cable network for television, high-speed
      New York Times  -  325 words
    • Article, Illustration
      Lock icon Calculated to catch attention
      52 8 [TOKYO] A MODEL in bikini waving to customers while a visitor tries out Casio's new digital camera XV-3 during an annual Business Show in Tokyo yesterday. Casio will introduce the smallest and lightest 3-mega pixel digital camera, weighingonly 215 grammes with a price ofBB,oooyen (551,420), next
      AFP  -  52 words
    • Article
      Lock icon KoreaOnline to be revamped for Nasdaq listing
      490 8 HONGKONG Bloomberg Regent Pacific Group Ltd, which started trading as ißegent.com Ltd yesterday, said it aims to restructure its Korean operations and to spin them off for a Nasdaq listing by the end of the year. Korea Online, 46 per cent owned by
      Bloomberg  -  490 words
    • Article
      Lock icon New e-mail virus on the loose: anti-virus software maker
      170 8 ISLANDIA, New York Bloomberg COMPUTER Associates International Inc, a maker of anti-virus software, warned of a new e-mail virus called Cybernet, which can affect Microsoft Corp's Outlook programme and disable computers. The virus, much like the "I Love You" virus, also
      Bloomberg  -  170 words
    • Article
      Lock icon Share Net costs more fairly: Cheow Tong
      357 8  -  Several other Asian ministers express support for him By Toh Han Shih MINISTER for Communications and Information Technology Yeo Cheow Tong has called for more equitable sharing of costs in Internet services between Asia and the rest of the world. Speaking on Thursday
      357 words
    • Article
      Lock icon Softbank share price slides, profit falls 78%
      289 8 TOKYO Losses incurred after Ziff-Davis sold some of its holdings Bloomberg SOFTBANK Corp, Japan's largest Internet investor whose shares have fallen three-fourths since peaking in February, said annual profit fell 78 per cent on losses incurred after Ziff-Davis Inc, in which Softbank holds
      Bloomberg  -  289 words
    • Article
      Lock icon Yahoo! testing new online music player software
      295 8 SANTA CLARA, California Software will allow downloading, playing of music, videos Bloomberg YAHOO! Inc, the world's largest Internet search service, is testing an online music player that allows its customers to download and play recorded music, videos and radio stations from the Web.
      Bloomberg  -  295 words
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  • REGIONAL news
    • Article
      Lock icon MAS narrows loss to RM258.6m; facing two 'material' suits
      496 9  -  TBL claiming RMlO4m, carrier connterclaiming RM52m; Protea Leasing wants USs2sm From] Eddie Toh in Kuala Lumpur MALAYSIAN Airline System (MAS), which reported a smaller net loss of RM258.6 million (*****.9 million) for the year ended March 2000, is now embroiled in
      496 words
    • Article, Illustration
      Lock icon Rupiah slides further as unrest worsens
      604 9 JAKARTA Students set cars on fire after clashes with police Bloomberg, AFP THE Indonesian rupiah fell after renewed allegations of corruption and worsening social unrest increased pressure on President Abdurrahman Wcihid. rTi The rupiah dropped as much as 1.3 per cent, to 8,555 per
      Bloomberg,; AFP; AP  -  604 words
    • Article
      Lock icon Philippines decides not to use rate hike to defend peso
      393 9 MANILA Reuters THE Philippines yesterday decided not to use an interest rate hike to defend its ailing currency as economists predicted a dim outlook for the country's economy. The policy-setting Monetary Board decided yesterday to keep overnight rates unchanged after
      Reuters  -  393 words
    • Article
      Lock icon PM's aide dismisses talk Daim has quit
      213 9 KUALA LUMPUR Reuters MALAYSIAN Finance Minister Daim Zainuddin has not resigned, an aide to Prime Minister Mahathir Mohamad said yesterday, dismissing persistent rumours in the stock market. "No, there's no such thing," the aide told Reuters on the telephone when asked if Mr
      Reuters  -  213 words
    • Article
      Lock icon Bakrie Group subsidiary ruled bankrupt by Supreme Court
      417 9 JAKARTA Group intends to fight ruling on Bakrie Finance Reuters, AFP INDONESIA'S Supreme Court has declared a subsidiary of the powerful Bakrie Group conglomerate bankrupt, overturning a string of earlier rulings which has further tarnished the reputation of the legal system. "The
      Reuters,; AFP  -  417 words
    • MARKET moves
      • Article
        Lock icon Uninspiring results
        80 9 RENONG Bhd and United Engineers Malaysia failed to inspire despite their improved results. Renong, which has returned to the black after two years of massive losses, shed 13 sen to RM2.26. UEM the main income contributor to Renong eased 20 sen to RM9.40. Analysts said the Renong group
        80 words
      • Article
        Lock icon Malaysia Airport still grounded
        89 9 MALAYSIA Airport Holdings Bhd eased four sen to RM3.20 despite its plan to invest RMIS million (Ss6.B million) in content provider Skali to jumpstart its e-commerce plans. An analyst said that the manager of the Kuala Lumpur International Airport has to do a lot more to
        89 words
      • Article
        Lock icon Trouble at TRI?
        67 9  -  Compiled by! Eddie Toh TECHNOLOGY Resources Industries (TRI) tumbled 24 sen to RM4.46 yesterday although subsidiary Celcom won a reprieve from creditors a fortnight ago. Analysts said investors were unnerved because TRI was taking a longer-than-expected time to disclose its plan to reschedule its bond repayments. An
        67 words
    • Article
      Lock icon Toll road takes its toll on China Merchants
      505 10 WTQrTEM HONGKONG Share price slides as company blames sharp profit drop on lower toll road revenue Reuters RED chip conglomerate China Merchants Holdings (International) Co Ltd dismayed investors yesterday with a sharp drop in profits for last year which it attributed to
      Reuters  -  505 words
    • Article, Illustration
      Lock icon HK dotcom plans to invest US$250m in China
      327 10 BEIJING Bloomberg CHINADOTCOM Corp, a manager of Internet sites with Asian news, is planning to invest about Us2so million (***** million) in China within two years on expectations the country will enter the World Trade Organization (WTO). The US House of Representatives
      Bloomberg; AFP  -  327 words
    • Article
      Lock icon China yuan closes outside band, 3rd time this week
      494 10 MSHANGHAI Central bank seen to be testing a wider trading band ahead of China's entry to the WTO Reuters CHINA'S yuan closed higher against the US dollar yesterday on strong demand from exporters, the third time this week that the tightly
      Reuters  -  494 words
    • Article
      Lock icon Good news as monsoon hits on time in India
      306 10  -  Stock market prices were set to tumble had the monsoon forecast been poor From Rajendra Bajpai in New Delhi STOCK market punters are looking skyward to welcome the south-west monsoon, which is forecast to be a good one for the 13th
      306 words
    • Article
      Lock icon India to sell as much as 60% of Air India
      258 10 NEW DELHI Bloomberg INDIA plans to sell 40 per cent of Air India to a strategic partner and allow a foreign airline to invest in the country for the first time. The government may sell as much as 60 per
      Bloomberg  -  258 words
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  • Page 10 Advertisements
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      Lock icon Page 10 Advertisements Column 1
      1710 10 I NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298 Notice Of Annual General Meeting Flextech Holdings Limited Notice Is HEREBY GIVEN that the Seventh Annual General Meeting of Flextech Holdings Limited ("the Company") will be held at The Board Room, Flextech Holdings Limited, Blk 25 Kallang Avenue
      1,710 words
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      29 10 470 HOUSES SALE Visit this choice site for a selection of dream homes. The Straits Times Classified P TODAY ilianhe Zaobao Asian WP ""ow mi sum* bear j^^gEiaa, ina**?
      29 words
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  • WORLD news
    • Article, Illustration
      Lock icon Focus shifts to US Senate as China trade bill advances
      769 11 WASHINGTON Bill coold be held op by dispute over hnman rights commission, or possible amendments poshing labour standards Reuters HAVING won the backing of the US House of Representatives for the bitterly contested China trade bill, the Clinton administration has
      Reuters  -  769 words
    • Article
      Lock icon SEC tightens screws on fraudulent companies
      588 11 WASHINGTON Two lawyers to head financial fraud Swat-team Washington Post THE Securities and Exchange Commission on Thursday announced an effort to tighten the screws on companies that try to cook their books. Regulators are setting up a financial fraud Swat-team, headed by two experienced
      Washington Post  -  588 words
    • Article
      Lock icon Japan watchdog wants Paribas penalised
      401 11 TOKYO Reuters JAPAN'S top securities watchdog yesterday sought penalties against the Tokyo branch of BNP Paribas Securities Ltd, alleging it violated the law by improper trades to help clients avoid losses. Japan's regulators are increasingly keen to show they are taking a tough line against
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      Lock icon Subway angel
      48 11 [NEW YORK] Denajua Cola, a mime, stands in her costume waiting for her turn to audition on Thursday at Grand Central Station in New York. The Metropolitan Transportation Authority held it's annual auditions for musicians to compete for permits to perform in the city's subway system.
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    • WORLDWatch
      • Article
        Lock icon Nippon Telegraph posts loss
        85 11 AP [TOKYO] Nippon Telegraph and Telephone Corp reported yesterday that it had posted a loss in the fiscal year ended March 31 after filling a shortfall in its pension fund. It said it had a group net loss of 67.81 billion yen (Ssl .07 billion) for
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        Lock icon Sega chief quits after another loss
        71 11 Reuters [TOKYO] The president of Sega Enterprises Ltd stepped down yesterday after the world's third-largest home video game maker reported its third annual loss in a row, despite a 27 per cent jump in sales. Tokyo-based Sega posted a group net loss 0f42.88 billion
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        Lock icon Strong yen hits profits at Nintendo
        97 11 Reuters [TOKYO] Annual profits at Japanese video-game maker Nintendo Co shrank 35 per cent last year as the strong yen swallowed up earnings from robust sales of its hit "Pokemon" game software. But the maker of world's most popular hand-held game machine, Game Boy,
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        Lock icon Dai-Ichi Hotel goes bust
        59 11 Bloomberg [TOKYO] Dai-Ichi Hotel Ltd, a Tokyo-based hotel operator, filed for court protection from creditors with 117 billion yen (SSI.B billion) in liabilities after it failed to persuade its lenders to waive debt. It is the biggest bankruptcy of a hotel operator in post-war Japan, said
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      Lock icon Microsoft's future starting to look grim
      853 11 REDMOND, Washington Bloomberg MICRO§QF£C< >rp investors are contemplatmg ftte software maker's future, and for many, it looks grim. A day after the judge in the landmark anti-trust case indicated he would probably order Microsoft to be broken in two, many investors signalled that they
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      Lock icon Hyundai loan news takes its toll
      335 12 SEOUL Korea index down 6%; Hyundai seeks financing from main creditor to avert liquidity crunch Reuters SOUTH Korea's benchmark index ended more than 6 per cent lower yesterday after sharp gains and in the wake of news the country's biggest conglomerate Hyundai had asked
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      Lock icon Improved bank disclosure can cut risk, says Greenspan
      326 12 Bloomberg [WASHINGTON] Banks that release more information about the quality of their loan portfolios can enjoy the benefits of lower risk and less regulatory oversight, said Federal Reserve chairman Alan Greenspan. "While not a panacea, improved disclosure can complement the supervisory process
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      Lock icon Glitch will affect Japan's growth target for FY99
      459 12 TOKYO Already meagre growth target may now be ont of reach Reuters AN EMBARRASSING revision to Japan's official statistics may put even the government's meagre growth forecast for the just-ended fiscal year out of reach, Finance Minister Kiichi Miyazawa said yesterday. The
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      2383 12 NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298 In The Matter Of M THE MATTER OF THE The Companies Act, Cap- SO jj 1 H COMPANIES ACT, CHAPTER 90 J In The Matter Of |fl ARGUS SHIPPING PTE LTD BENNIGAN'S RESTAURANT PTE LTD I■|| M |H ufimfm'
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  • FINANCE & commodities
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      Lock icon Futures close lower in jerky trading
      287 13  -  SGX Derivatives Tndtagßeports MSCSX Singapore Daphne Toy Jardine Fleming FACED with possible further rate hikes and highly volatUe US markets, the Singapore stock market suffered another round of battery yesterday as it continued to struggle with the gloom and pessimism prevalent for some time
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      Lock icon May futures follow stock market upwards
      272 13  -  MSCI Taiwan futures Chan Yet San Refco (Singapore) Pte Ltd THE Taiwan stock market rebounded for the first time since President Chen Shuibian's inauguration. Although Wall Street did not perform weU overnight, most shares ended up on optimism that state funds would support the
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      Lock icon Oil rises to two-month highs
      145 13 ENEMY REPORT Reuters [LONDON] Buoyant oil prices posted fresh twomonth highs yesterday amid worries over petrol shortages with the US' peak demand summer driving season around the corner. Benchmark Brent for July was 23 US cents stronger at U5529.42 a barrel, just 8 per cent
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      Lock icon CURRENCY REPORT
      342 13 Reuters THE euro took heart yesterday from comments by Bundesbank president Ernst Welteke that foreign exchange intervention to support the currency could not be ruled out, but halted ahead of a technical barrier against the dollar. Mr Welteke was quoted in Germany's Bild newspaper as saying the euro's
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      1257 13 ntTBRBAMK CROSS RATES May26 AS C$ twfc Euro Ffr Oni Htt Ind 8s frUah Yon Wow HI «}Mh Hw SS Bend Sfr WTS BXK Hmt US$ Australia 0.857 4.730 0.623 4.067 1219 4.441 ***** ***** 0.612 6.478 2.166 1.255 29.552 ***** 0.988 4.062 0.975 17.569 ***** 0287 0570 Canada 1167
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      1802 13 SICOM FUTURES Stay 26 1BUMEI (Marat SJOpa) t$S1 CONTRACTS cwti/fcq) CtM* Voi«M Opt* Mawt> HM> Low Sett (toBWM) tttorwt Jw 00 ***** JM 00 H8.00 tog 00 119.00 119.00 119.00 50 400 S«p 00 121.00 400 RSS3C0NTRACT (US Votom OpM Mowtii m m iiH (t«—a rnt«mt JMOO 65.00 WOO M
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  • STOCKS east asia
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      Lock icon Hang Seng down on continued Wall St losses
      2789 14 HONGKONG AFXAsia Q Hang Seng -M&M THE Hang Seng Index was down 198.36 points at 13,722.70, off a low of 13,596.63, and a high of 13,845.44, on turnover of HK$9.9 billion. Share prices closed down, but off their lows, yesterday as investors
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      Lock icon Nikkei ends just above 16,000 points
      1980 14 TOKYO AFP □MUM 225 -23M8 SHARE prices in Tokyo ended at a new 12-month low yesterday owing to falls on Wall Street and doubts about whether Japan will meet its economic growth target, brokers said. The Nikkei 225 Index lost 239.68 points or 1.5
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      Lock icon CHINA
      964 14 Reuters FlShanhaißliidei *(MB CHINA'S hard currency B shares closed higher yesterday on renewed hopes of a possible merger with the domestic A share markets. The Shanghai B Share Index advanced 1.2 per cent, or 0.54 of a point, to 47.5 on higher turnover of U5515.39 million. The Shenzhen B
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  964 words
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      Lock icon TAIPEI
      368 14 AFP HWPMn *12L3» TAIWAN stock prices closed 1.44 per cent higher yesterday following reassuring statements from the government on the island's sound economic fundamentals and prospects, dealers said. The Taiwan Stock Exchange Weighted Price Index rose 121.36 points to 8,559.46, on a year-low turnover of NT577.51 billion. "The display
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  • STOCK klse
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      Lock icon KL shares down along with regional falls
      407 15 AFP CI Composite Index -14J4 MALAYSIAN shares closed 1.6 per cent lower yesterday, led by regional falls after a decline on Wall Street, dealers said. The Kuala Lumpur Stock Exchange Composite Index ended down 14.34 points at 884.57. The Second Board Index was
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      8894 15 INDUSTRIALS Cbmmmc product! 2000 L«>t Vol D«V Net Cap wm» L— Cm»m Mi •OOP HM> Um Wl 420 3K) A|inomoto 360 7 '<5? 158 90.5 Angkasj 91 -1 30 92 905 134.2 670 290 Apollo Food Hlq 490 -15 8 496 490 tl.7 196.0 3300 2700 BAT50C 3200 50 2161
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  • SGX clob & regional stocks
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      2934 16 BONDS WARRANTS May 26 ■t Inh f»ml Lot ¥W Day UOOMto CflM bar 0k> *5 "l LOT StM r ItMl «N« Lot <■"•*> U« -10 »»M —5 05 ,33 18 165 5 !f 1 f}2 1 KX> 462 V,? Is 59 7.5 3161 AIITech W*****7 12 15 5 16 35
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      Lock icon SEOUL
      270 16 AFP Q Composite Index -42J57 THE Korea Stock Exchange Composite Index closed down 42.87 points at 656.66. Volume was 349 million shares worth 2.5 trillion won. AFP tttv 26 »ak *h AnamSaml ***** -1550 Brain Tech 890 -115 Central Bank 1450 uneh CheflComm *****0 -5000 Dm Gu Bank 1845
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      Lock icon MANILA
      265 16 AFP F1 Composite Index *0.84 THE Philippine Stock Exchange Composite Index rose 0.64 point to close at 1,427.26 in cautious trading amid regional market weakness. Turnover rose to 2.40 billion shares worth 2.54 billion pesos from 1.81 billion shares worth 1.27 billion pesos on Thursday.—AFP M»2i Pvso COOO) MRC
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      Lock icon WELLINGTON
      279 16 AFP HMBE-40 *182 NEW Zealand shares closed up 0.5 per cent yesterday, shrugging off a fall on Wall Street overnight. The benchmark NZSE-40 Capital Index was up 9.82 points at 1,989.26 and the total value of market turnover came up to NZ$79 million. am 2* us rooo) A<J»antage HOS
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      Lock icon SYDNEY
      553 16 AFP PAflOrdiiMtriMi -ISJS AUSTRALIAN share prices fell 0.5 per cent yesterday, forced down by a sagging resource sector and another slide in News Corp, brokers said. The All Ordinaries Index ended 15.5 points down at 2,964.3 while the newly-intro-duced SP/ASX 200 lost 17.4 points to 3,000.7. News Corp continued
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      Lock icon BANGKOK
      788 16 Bloomberg HSETlndnt +5.8S THE Stock Exchange of Thailand (SET) Composite Index rose 5.85 points, or 1.9 per cent, to 313.08, after earlier this week falling 11 per cent to a 19-month low. Twice as many shares rose as fell. Trading came to 3.34 billion baht, about 28 per cent
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      Lock icon JAKARTA
      619 16 AFP n Composite Index -8.61 INDONESIAN share prices closed 1.8 per cent lower yesterday due to an outbreak of violent anti-Suharto student protests here and new unrest in the Maluku islands, dealers said. The Jakarta Stock Exchange Composite Index closed down 8.61 points at 482.07, off a low of
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    Lock icon STOCKS sgx
    8211 17 SGX MAXNBOARD Transaction date: May 26 32-Wk Last Vol 0*1 ij! V p/i J *5 Hmi 1— rata ClUT COOO> Mm. 1— »wr r C>f MULTHNDUSTVY 182 95 m c 1000 Acma 50c 113 cd -2 207 115 112 "3 "4 5 4.3 2.2 14.1 196.1 116 84
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      57 17 HOME IN ON HOBfS L I 1 I N p <>K Un J I IPO. Shares. Bonds. Stocks. Annual Reports. mm I i I Whatever you're offerlnq, we help you reach out I I to 86.7% of all adults in Singapore daily. I B The Straits Times The Business Times
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      234 18 Where to wine, dine and entertain..." < < ►> "Tunch" is the best for lunch and high tea rolled into one. Which means longer serving hours and even more scrumptious spreads. "Tunch" from 12 noon 4.30pm $15.80 (Adult) $11.80 (Child) "Tunch Karaoke" from 12 noon Bpm *21.80* (Adult) $17.80* (Child)
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      56 18 **********338 r«•• ~.vt> fife 1 HOTEL GRAND CENTRAL LIMITED B 22 Orchard Road/Cavenagh Road, Singapore *****7 3 Tel: 737 9944 Ext 400/02 Fax; 733 3175 f ■over the others. Advertise in Wine, Dine Entertain of The Business Times and reach out to 117,000 readers daily. Contact Patrick Ang 740 1284
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      30 18 depend on predictions. Advertise in Wine, Dine Entertain of The Business Times and reach out to 17,000 readers daily. Contact Patrick Ang 740 1284 or Arty Choo 740 1559 now.
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      21 18 S f X G A P P Ff] BfiLER relives themUSIC of the 60s t(> the 9o's§£»' with w? a htffiii
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  • Page 18 Miscellaneous
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      879 18 lil ■,i i. i, i 9.30 News 5 Tonight. 530 Aksi Mat Yoyo. 10.02 Capital E. (r) ri'linn'Mtta^ wm*r«i iaoo Jag: Angels3o K eluangman. 1030 At Home With Mr Tan ■JfT v«y 1 8 AM Kids Central: 64 u.oo Mortal Kombat: Con- 630 Temanku. SS, CEO of Prudential Bfcjjff)tm t
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      263 18 CRYPTIC CROSSWORD ACROSS 7 Spoils calm day, agitating in fits 8 oUSSUSS liberal ration 10 SSTff' UM 66 9 Awareness erf subordinate posi--11 Active support for proposal (9) 12 Unkempt type not expected to 15 Gemngaw«y wrthescudocounattract the birds (9) tertertmg(B) 13 Lift with difficulty, and throw (5) 17 ft
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  • TheArts
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      Lock icon HOME sweet home
      667 19  -  Theatre companies here are enjoying a new recognition, writes parvathx nayar, that has resulted in several arts groups now having permanent homes to call their own PARVATHI NAYAR WE seem to be seeing a shift from the generic to the specific in terms of performing spaces in
      SIEW YAW HOONG  -  667 words
    • SINGAPORE ARTS FESTIVAL
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        Lock icon GALAXY QUEST
        1258 20 Alien alls critic I! Loopa discloses to -lAI.MK KK his lave shows in the Kartli test P( )l\ ;t I' 't i 'I |hm >ple. e\cn tile culture ulturesannmgst lis. some of theprogrammes in this var's Singap<ire Arts Festival may come across as welkprettv alien. lUit fear not
        1,258 words
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      Lock icon Commitment in concrete
      1101 21  -  COVERSTORY By] Parvathi Nayar SINGAPORE REPERTORY THEATRE A BRAND of theatre that 's international in conception, Asian in execution: it's been seven years since the Singapore Repertory Theatre (SRT) has been working at carving out this space in Singapore. Now they're on the verge of realising a
      PHOTOS BY SIEW YAW HOONG  -  1,101 words
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      Lock icon A hang-out for artists
      1056 21  -  THE NECESSARY STAGE liy\ Felicia Yap IT is easy enough to mistake The Necessary Stage's (TNS) spacious new basement home for an advertising agency's office. As soon as one steps inside, one is greeted by a motley collection of pictures jostling for attention with an angular,
      SIEW YAW HOONG  -  1,056 words
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      Lock icon Hands-on sculpture for children and teens
      671 21  -  A 4-day carnival aims to generate interest in 3-D art among budding artists By i Charmine Tan CREATIVITY begins in childhood and if honing your children's artistic skills is on the agenda, Sculpture Square can help. The arts space is organising Sculpture Carnival 2000,
      671 words
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      Lock icon THE PROGRAMME
      1733 22  -  Compiled by! M Yasotha MUSIC Singapore Symphony Orchestra Virtuoso Violinists Series/Beethoven Symphony Cycle World-renowned Taiwanese-born violinist Lin Cho-liang plays the passionate Violin Concerto by Tchaikovsky. Beethoven's many walks in the countryside inspired one of the best-known pieces of programme music, his Pastoral Symphony. It comes complete with a
      1,733 words
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      Lock icon SPOTLIGHT
      242 22  -  By Koh Huiting The Boss It is said that popular culture is the culture of the people—low art. But is popular culture still considered low art once it has Integrated itself into the masses? Plot and Players: Part of the year-long series of talks held jointly by the Singapore
      242 words
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      77 19 IHI X Unemployment Cover, .your w —n ■"'wT w f disappear if your job does. AA® Bf m jl HHHff Introducing PruMortgage, Singapore's first mortgage plan with Unemployment Cover For more information, contact your Prudential agent or call us at 1800-333 9 333. Prudential Assurance Company Singapore (Pte) Limited. 30
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      10 19 SRT's commitment in concrete TNS' hangout for artists, EL 3
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      28 20 i Business flais? I http://business-times.asial.com.sg Before you travel, make a note of our website address I I 1 BT Online: Uploaded at 3 am. Updated throughout the day
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