The Business Times, 15 July 2000

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Microfilm: NL21887
Total Pages: 22
1 22 The Business Times
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  • Title Section
    Lock icon Masthead
    14 1 THE BUSINESS TIMES MITA(P) 035/12/1999 85*: SINGAPORE Internet: Utp://business-times.asial .com.sg/ SATURDAY, JULY 15, 2000
    14 words
  • Article
    Lock icon MARKET SUMMARY
    72 1 □fll unrat (-5.12) M 803J7 (-6.86) OT INDEX HJTTJRES M62JW (+4.00) SIMSCIFUTUBES 275J0 (+0.40) STOCK MARKET INDICES Friday Change KLPTTOBP 8M14 -4JJ NIKKEI t2k 17,***** +106.00 HANG SENG 17,596.16 +136.66 SET INDEX 316J8 -4JT7 JAKARTA COMP fiM.ll -181 MANILA COMP _1.553.89 7.63 TAIPEI WPI 8,497.13 +229.47 SEOUL COMP
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  • Article
    Lock icon FINANCE
    78 1 FOBEX BATES USI SI 0» 1.741 £(USS/SSper£) 1500 lilt EUBO(USt/SS/E) 0535 1.528 DM 2.092 0.832 YEN 107 J IjSII RM 1800 0.458 HKI 7.7* 0123 BAflT 40.09 0.043 RLTIAH 1447 0.118* St to 190 unta FBlfeB BATES SINGAPORE* 5.80 KUALA LUMPUR 7 67 JAKARTA ...39.00 BANGKOK .9.60 MANIU 11.00
    78 words
  • Article, Illustration
    Lock icon DBS Land discloses RNAVs used in Pidemco merger
    495 1  -  By. Marissa Chew [SINGAPORE] Succumbing to pres sure from investors, DBS Land yesterday revealed the revalued net asset value (RNAV) figures it used to compute the share exchange ratio in its merger agreement with Pidemco Land. In a statement last night, DBS
    Source: Bloomberg  -  495 words
  • Article
    Lock icon Informatics in tie-up to build IT varsity in Pahang
    630 1  -  Malaysian prime minister gives his blessings to project From Eddie Toh in Kuala Lumpur WHILE Prime Minister Mahathir Mohamad had vetoed the entry of Singapore Telecommunications into the country, he has endorsed another Singapore company's bid in a different venture to
    630 words
  • Article
    Lock icon Corporate results at a glance
    28 1 Group earnings for the six months ended June 30,2000 ST Engineering $132.2m Up 36.0% SembCorp Marine $41,9m Up 1.0% JurongTech $2.2m Up 110.9%
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  • Article, Illustration
    Lock icon Food for thought at Rajah & Tann
    614 1  - Food for thought at Rajah Tann Uil exclusive Free meals are just one benefit the firm's 140 lawyers eiyoy By Corinne Kerk [SINGAPORE] The things they do for lawyers. First, a pay hike to attract law graduates. And now, breakfast and lunch thrown in. For the past couple of months,
    SIEW YAW HOONG  -  614 words
  • Article, Illustration
    Lock icon Brokers from across the Atlantic trade punches
    398 1 Reuters [LONDON] Stockbrokers and businessmen from London and New York took their rivalry away from finance and trade and into the boxing ring for charity on Thursday, leaving some on each side bloodied. "It was supposed to be a friendly competition, but it
    Reuters  -  398 words
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  • NEXT page
    • Article, Illustration
      Lock icon SPH to launch Project Eyeball on the Net on Monday
      474 2  -  Print edition will hit streets on Aug 12 with target of 25,000-30,000 copies daily in first year iw Teh Hooi Ling [SINGAPORE) Project Eyeball, Singapore Press Holdings' first English daily since The New Paper, will unveil its soft-launch website on
      ARTHUR LEE  -  474 words
    • ON THE grapevine
      • Article
        Lock icon Don't pray, pray at English class
        98 2 LOCAL sitcom character Phua Chu Kang made it to the pages of Britain's Financial Times last week with his signature line "Don't pray, pray". Reporter Sheila McNulty highlighted in her piece the role that PCK plays in the development of the only export that
        98 words
      • Article
        Lock icon Making a name for themselves
        95 2 STAFF at both DBS Land and Pidemco are taking part in a naming contest to pick a new name for the merged company, the president and chief executive officer of the merged company Liew Mun Leong told reporters earlier this week. The Pidemco name will
        95 words
      • Article
        Lock icon Dead wrong
        131 2 A BRITISH local authority sent a letter to a man who died in April to tell him that his tax benefit was being stopped because he was dead. Reuters reports that Lambeth Council in London told cancer victim William Reynolds that he could appeal against the decision. "Your
        131 words
    • Article
      Lock icon US retail sales figures higher than expected
      518 2 Signs the economy is cooling are slow in unfolding Bloomberg AP [WASHINGTON] Retail sales in the US rose more than expected last month, suggesting signs that the economy was cooling are slow in unfolding, government figures showed yesterday. "Second quarter consumer spending now
      Bloomberg; AP  -  518 words
    • Article
      Lock icon Cyberworks finds its way into Hang Seng Index
      456 2  -  Also in: Li L Fang, Legend; Out: Great Eagle, Shangri-La From Quak Hiang Whai in Hongkong ONLY a year in existence, Richard Li's Pacific Century Cyberworks has found its way into Hongkong's key benchmark index, thanks to its successful takeover of telecom
      456 words
    • Article, Illustration
      Lock icon Chip off the old block, cars and all
      734 2  -  PEOPLE Tommie Goh's daughter is demonstrating an entrepreneurial streak and a capacity for hard work. Tan Su Ten reports Tan Su Yen PUT it down to her entrepreneurial genes. At 22, Grace Goh, eldest daughter of Tommie Goh, executive chairman of JIT
      ARTHUR LEE  -  734 words
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      127 2 Since 1975 our worldwide staff of over 275 multi-disciplined professionals Mr V W 'i including lawyers, chartered accountants, at Y chartered secretaries and bankers have f k Y provided confidential and cost effective K A company formation in all the major low API aX areaS includm 9 Incorporation Fees from
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      9 2 Ivan Fernandez to run The New Paper, Pg 5
      9 words
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  • SINGAPORE companies
    • Article
      Lock icon SembCorp Marine makes small profit gain despite turnover fall
      373 3  -  Exceptional $6m profits from JTIC divestment, savings from revamp of group ops helped interim profit rise to $41.92 m By Conrad Raj SEMBCORP Marine has managed a slight rise in interim earnings despite a 28 per cent drop in turnover, thanks
      373 words
    • Article, Illustration
      Lock icon ST Engg's land systems arm on way to being an earnings driver
      693 3  -  CORPORATE RESULTS Group interim profit rose 36% to $132.2 m while land systems' contribution grew a massive 154% By\ David Boey THE land systems arm of Singapore Technologies Engineering is catching up with the group's aerospace business as
      ARTHUR LEE  -  693 words
    • Article
      Lock icon Chuan Hup wins $1b contract for coal transportation
      310 3  -  The 10-year contract is from a major Indonesian coal-mining company By\ Marissa Chew MARINE group Chuan Hup Holdings has won a $1 billion contract for coal transportation from a "major coal-mining company in Indonesia." Chuan Hup. which did not name the Indonesian
      310 words
    • Article
      Lock icon JTIC doubles first half gain on back of higher sales
      195 3 ELECTRONICS contract manufacturer Jurong Technologies Industrial Corp (JTIC) yesterday posted a 110 per cent jump in interim net profit to $2.22 million from $1.05 million a year earlier on the back of an increase in sales. The company, which was
      195 words
    • Article
      Lock icon Is Halim Saad's Time Engg worse off with Khazanah?
      843 3  -  lock siew] eddie toh CREDITORS have endorsed the debt revamp of Time Engineering, with the Malaysian government, through its investment vehicle, Khazanah Nasional, coming in as a partner. There have been suggestions that having Khazanah as the new equity partner for
      843 words
    • Article, Illustration
      Lock icon Ivan Fernandez to edit The New Paper
      546 5 Veteran of 25 years will take over from Mr Balji, who is joining MediaCorp IVAN Fernandez, currently The New Paper's deputy editor, takes over as editor of the newspaper on Monday. He replaces PN Balji, who has left to head MediaCorp's new newspaper
      546 words
    • Article
      Lock icon Schroder Capital not increasing Parkway stake
      167 5 Not considering DBS Land's 16.6% stake at this time, it says AFX-Asia [SINGAPORE] Schroder Capital Partners Asia Ltd is not considering buying DBS Land's 16.6 per cent stake in Parkway Holdings Ltd, a Schroder Capital spokesman told AFX-Asia yesterday. "We are not considering buying
      AFX-Asia  -  167 words
    • Article
      Lock icon BBR unit must complete en bloc deal: courts
      225 5 THE High Court yesterday ordered BBR Holdings subsidiary Chileon to complete its en bloc purchase of seven adjoining freehold landed homes at Shanghai Road in the River Valley area. Last November, Chileon inked a deal to buy the homes with a combined
      225 words
    • Article, Illustration
      Lock icon ST Engg holders may have had worries about independence
      590 6  -  Investors could also have had concerns aboat share dilation and unnecessary compensation Serena Ng MINORITY shareholders may have decided to block Singapore Technologies Engineering from granting share options to its non-exec-utive directors because such a move could detract them from their
      590 words
    • Article
      Lock icon SMRT placement gets commitments of 3 times offer, say sources
      274 6 Interest said to be no less than that for SIAEC and Sats IPOs two months ago Reuters (SINGAPORE) The placement tranche of state-owned rail operator Singapore MRT's initial public offer has received commitments of more than three times so far,
      Reuters  -  274 words
    • COMPANY Briefs
      • Article
        Lock icon SingTel buys 15% of NewsTakes
        39 6 AP SINGAPORE Telecom, through Sing Tel Ventures, has paid U553.75 million (556.5 million) for 15 per cent of News Takes, a US firm that delivers news and other information to phones and computers. —AP
        AP  -  39 words
      • Article
        Lock icon Changes to Jardine's Benz operations
        69 6 AFX-Asia [LONDON] Jardine Matheson Holdings said 75 per cent-owned Jardine International Motor Holdings said DaimlerChrysler unit Mercedes-Benz China will manage the wholesale activities of the Mercedes-Benz operations in Hongkong and Macau. Zung Fu Co, a wholly-owned unit of Jardine International Motors and the existing distributor
        AFX-Asia  -  69 words
      • Article
        Lock icon SPC completes Kakap PSC deal
        51 6 FOLLOWING the signing of the stock purchase agreement on June 9, Singapore Petroleum Co, a subsidiary of Keppel FELS Energy Infrastructure, yesterday completed its purchase, through the acquisition of LL&E Indonesia Ltd, of a 15 per cent working interest in the Kakap PSC in West
        51 words
      • Article
        Lock icon MPH exec director now COO
        39 6 MPH yesterday said Stephen Leow Liang Chuang who is an executive director of the group has been appointed chief operating officer; and acting COO Mervyn Lim Sing Hok has been redesignated chief financial officer.
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  • SINGAPORE markets
    • Article
      Lock icon Untitled
      460 4 Stocks VoJum* North 22 US 1c 119,769,000 AcNawSc 35,812,000 Briectoy NZ10c 27,099,000 UnMMl5c 24,396,000 Kyoaha HK50c 22,290,000 PNEIndlOc 20,829,000 LfenoHuatlOc 18,522,000 Jadaaonlc..« 17,664,000 Addra{Tach2.5c 15,838,000 MsdtaWnglOc 13,292,000 a>ock» s PadfcCartury 60.520,935 Chart SamiConductof 26c 41.098,495 North 22 USIc 35.915.067 Native 10c 32,122.900 068 Gkp 23,993,738 DBS Land 21,530.517 OCBC 20,837,507
      460 words
    • Article, Illustration
      Lock icon Market dips ahead of US data, STI seen falling further
      579 4  -  1-1 i comment STOCKS ven sreenivasan SINGAPORE stocks drifted south in relatively thin trading yesterday, as the market turned cautious ahead of the release of several key US economic data. The Straits Times Index fell 5.12 points to 2,079.89, weighed
      579 words
    • Article, Illustration
      Lock icon Haw Par's warrant numbers look attractive
      174 4  -  WARRANT WATCH By' Ven Sreenivasan HAW Par Corp and its warrant were prominent net losers yesterday. The stock fell nearly 6 per cent to $2.67 on 234,000 shares. The warrant shed 11 per cent to 89 cents on 16,000 units. The numbers for this
      174 words
    • Article, Illustration
      Lock icon DBS Land near medium-term support
      232 4  -  HOT STOCK By' Ven Sreenivasan DBS Land fell another 12 cents to $2.42 on 8.8 million shares yesterday, bringing to 8 per cent its decline since its merger announcement with Pidemco Land on Wednesday. The fall reflects the market's concern that the deal may not
      232 words
    • Article
      Lock icon Market Notices
      141 4 ♦SAMUDERA Shipping Line announced its wholly-owned unit Foremost Maritime has on June 29 raised its paid-up capital to $53 million from $47.5 million. The extra 5.5 million shares of $1 each were issued at par for cash to its holding company to provide working capital. ♦SMB United announced
      141 words
    • Article, Illustration
      Lock icon US$ sits on key levels ahead of US data, BOJ meeting
      348 4  -  I-li comment CURRENCIES larry wee THE US dollar held firm yesterday on the back of a rejuvenated Nasdaq index, closing finally at key pivot points against many of its counterparts, ahead of US data due out yesterday night and
      Source: Reuters  -  348 words
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      Lock icon Page 4 Advertisements Column 1
      680 4 NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298 PROGEN HOLDINGS LTD I||| NOTICE OF EXTRAORDINARY GENERAL MEETING EuJlfll PROGEN NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the shareholders of Progen Holdings Ltd ("the Company") will be held at 12, Woodlands Loop, Singapore *****3 on
      680 words
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      Lock icon Page 4 Advertisements Column 2
      541 4 M THE MATTER Of THE COMPANIES ACT. CAP. 50 AND M THE MATTER OF CHIN AM AC (SINGAPORE) PTE LTD (In Mam tors Voluntary Liquidation) Memtoen Voluntary Winding Up M an ErfraoKftnaiy General Mooting at In Members of Vta abovenamed Company duly convened and aid at 3. Shanion Way •07-07
      541 words
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      Lock icon Page 4 Advertisements Column 3
      48 4 YOU CAN NOW PUT YOUR CPF SAVINGS IN EIGHT. important All applications for units in eight must Pe made on the application forms accompanying the prospectus investors must read the prospectus The value of the units and the income from them may fall as weiiasnse >I<l HVv-s" y
      48 words
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      Lock icon Page 5 Advertisements Column 1
      49 5 BUY,* SELL* Classified ads can speed up H H <X your search for the right car. No matter what it is, you can always buy it, sell it or find it with the Classified. I T0 L I FII I j 1800-737-1166 i^i Call Today For Results Tomorrow. 9
      49 words
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      Lock icon Page 5 Advertisements Column 2
      49 5 B V m^Mmt jH -^^n y SPsR ■■m *t^H <■ Br «M Bh fl K w '^sSH 4 1 V Bl 11 '/J M 1 il^i M wwP _dfl f^2HHM ft dßKu^^^KS ■#<>■ »tf. >Cwb>,^H^HHlH^^k <S 'TW'^ "^^pi ...>" V- 2^l i- i| 4 i- -V**£^ Organised by Supported by
      49 words
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  • Article
    Lock icon BT SHARE information service
    4840 6 Net Mm KM Medtecj US$ Mir 20 P 1617 0.772 1.38 011 Date TY LV TV IV Mkm Mar 21 P 2.1*3 1.199 2JO IJ9 Compeny an. (9m) <$*»> <cts> (eta) I f? Merit or Media Jun 09 P 1718 1229 J. 10 1.96 Alexandra Jon20
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  • SINGAPORE news
    • Article
      Lock icon NTUC wants CPF cuts fully restored in 3 years
      480 7  -  It chides SCI for seeking a delay in next instalment of restoration By. Audrey Tan THE National Trades Union Congress (NTUC) yesterday called for a full restoration of the Central Provident Fund (CPF) cut within three years at about three points
      480 words
    • Article, Illustration
      Lock icon More players offer IDD service
      576 7  -  Phoenix launches its 1516 service today; i2n, Telaportal and Pinnz to be next By' Teh Hooi Ling COMPETITION in the overseas call market is hotting up. More new licensees are starting to offer their services, with the thorny interconnection issues now resolved. Former callback operator
      FILE PHOTO  -  576 words
    • Article
      Lock icon M1 clinches IDD access code 002 for $360,000
      325 7  -  Ynana gets 038 code for $50,000; 010, 033 drew no bids liyl Kenneth Lee MOBILE and paging service provider Mobile One (Ml) yesterday emerged as the winner for the 002 IDD access code in an open bidding session conducted by the Infocomm
      325 words
    • Article
      Lock icon Amex Int'l to raise $200m from S'pore bond market
      141 7 AMERICAN Express International is borrowing $200 million from the local bond market for the first time. The money raised from the five-year floating rate note facility will be used by American Express' Singapore branch to refinance existing Singapore dollar borrowings and
      141 words
    • Article
      Lock icon Colin Ng seeks joint venture
      355 7 Law firm will apply to tie up with White Case of US SINGAPORE law firm Colin Ng Partners and American firm White Case yesterday confirmed that they will apply to form a joint-venture firm in Singapore. Yesterday was the last day for foreign firms to
      355 words
    • Article, Illustration
      Lock icon Tanjong Rhu project to be launched
      232 7 HEETON Investments, which developed The Woodgrove at Woodlands, will launch a small freehold apartment project at Tanjong Rhu today The 32-unit Palazzetto will be priced at an average of $950 per sq ft, or from $787,000 up The project consists of 30 two-bedroom apart
      232 words
    • Article
      Lock icon Thai Airways, SIA in fare hike talks: report
      163 7 Reuters [BANGKOK] Thai Airways International and Singapore Airlines are discussing an agreement to raise airfares on the Bangkok-Singapore route rather than compete on prices, the Nation daily reported yesterday. The newspaper said Thai Airways has proposed that both airlines raise the price
      Reuters  -  163 words
    • Article
      Lock icon NUS, NTU as centres of entrepreneurship
      345 7 Follow universities such as Stanford and MIR Tony Tan THE two state universities have come of age and should now play a more entrepreneurial role in stimulating economic growth, Deputy Prime Minister Tony Tan said yesterday. "In the last 30 to 40 years, universities
      345 words
    • Article
      Lock icon ABS to fix rates of S$, baht, rupiah
      182 7 THE Association of Banks in Singapore (ABS) will start to fix the short-term interest rates for the Singapore dollar, Thai baht and Indonesian rupiah to provide the market with a reliable and independent benchmark for regional interest rates. In a statement yesterday,
      182 words
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  • MAIL bag
    • Article
      Lock icon Great Eastern clears air on transparency
      361 8  -  Tan Beng Lee Director Chief Executive Officer Great Eastern Life (via Internet) WE refer to the article "And now, the least transparent firms" (BT, July 12) in which it was stated that Great Eastern Life was reluctant to meet analysts/fund managers and that our
      361 words
    • Article, Illustration
      Lock icon Patience needed for unit trusts
      709 8  -  Stewart Aldcroft I REFER to the letter "That endless unit trust debate" (Mailbag, July 12), and feel compelled to add to the debate on unit trust investing by Singaporeans. First, let us look at the issue of why people invest into unit trusts. In simple
      FILE PHOTO  -  709 words
    • Article
      Lock icon Boutique funds handicapped? Views not fair
      425 8  -  Dennis See, CFA Chief Executive Office Point Worth Management Pte Ltd (Via Internet) CATHERINE Ong's piece on boutique fund managers "Confusing rules handicap boutique fund managers", (BT, July 5), does not provide a fair representation of the industry. I wish to provide a more
      425 words
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      Lock icon Page 8 Advertisements Column 1
      91 8 (www.hyundai-motof.com) W 2002 MRMwar HDREA}*R*N The People's People Carrier The new Hyundai Tiajet tR wV a i Bk mUt tt/f fl^^BßP ■HHMm. Hyundai proudly presents the perfect MPV for the whole family. Hyundai's strive for excellence is shown by its spacious interior as well as its added safety features for
      91 words
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  • e-NEWS
    • Article
      Lock icon Seagate suffers sharp Q4 price fall
      416 9 Disk-drive maker sees further pressure in the next three months Bloomberg [SINGAPORE] Seagate Technology Inc, the world's biggest computer disk-drive maker, said it suffered sharp price declines in its fiscal fourth quarter and expects pricing pressure to persist for the next three months. The
      Bloomberg  -  416 words
    • Article
      Lock icon Orange set to unveil alliance with Energis
      273 9 FT [LONDON] Orange, the UK mobile phone operator recently sold to France Telecom, is expected to announce an alliance with Energis to swap wholesale capacity between their fixed and wireless networks. It is holding similar talks with Telewest and NTL, the cable groups,
      FT  -  273 words
    • Article
      Lock icon NTT DoCoMo looking at Voicestream again: report
      336 9 Interest follows Deutsche Telekom's bid for Voice Stream Reuters [NEW YORK] Japan's NTT DoCoMo is considering making a bid for Voice Stream Wireless Corp as struggle for control of the US wireless telephone service provider continues, the Wall Street Journal reported yesterday. DoCoMo,
      Reuters  -  336 words
    • Article
      Lock icon 'Techies' keep faith with tech stocks
      498 9 They had nearly 40% of their total investment portfolios in the tech sector FT NYT [NEW YORK] DESPITE recent falls in the Nasdaq, affluent Americans working in the technology sector have kept faith in technology stocks, according to a survey of the top one
      FT; NYT  -  498 words
    • Article, Illustration
      Lock icon Digital school bags anyone?
      39 9 AFP [PARIS] A woman testing the first prototype of an electronic school bag presented by school editor Havas Education hereon Thursday. The screen is aimed at replacing textbooks in colleges and universities in the future.—AFP
      AFP  -  39 words
    • Article
      Lock icon Compaq, Seagate in US$800m suit
      292 9 Bloomberg [NEW YORK] Compaq Computer Corp, the world's sec-ond-largest computer company, and Seagate Technology Inc have been named In a US$BOO million (551.36 billion) patent infringement suit by rival Convolve Inc and the Massachusetts Institute of Technology. The suit, filed on Thursday in US District
      Bloomberg  -  292 words
    • Article
      Lock icon Talk into your watch, Dick Tracy-style soon
      228 9 Bloomberg (TOKYO) Mitsubishi Electric Corp, which makes chips and mobile phones, says it has developed a chip technology that will let it shrink cell phones down to the size of wristwatches. The Tokyo-based company said yesterday that it had developed system chips that
      Bloomberg  -  228 words
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      475 9 NOTICE L To advertise call toll-free 1800-741 1883 Fax No: 741 1298 IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF HENG FU AGENCIES (PTE) LTD (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN, pursuant to Section 308(2) of ttie Companies
      475 words
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  • REGIONAL news
    • Article
      Lock icon Maybank may sweeten Phileo Allied deal after objections
      450 10  -  It may pay more so that it does not miss Bank Negara's merger deadline From Eddie Toh in Kuala Lumpur MAYBANK may sweeten its offer for Phileo Allied Berhad (PAB) following objections by PAB's substantial shareholder Avenue Assets, which is controlled by
      450 words
    • Article
      Lock icon New owners carve up MPHB into 3 groups
      354 10  -  Partners believed to be associates of Daim Zainnddin From Eddie Toh in Kuala Lumpur THE new owners of Multipurpose Holdings Bhd have dismantled the empire once controlled by an associate of former Malaysian deputy prime minister Anwar Ibrahim. MPHB said all the
      354 words
    • Article, Illustration
      Lock icon The world of Madame Tussaud's in HK
      60 10 [HONGKONG] The sculptures of US pop singer Madonna and Hollywood actor Sylvester Stallone standing among a pile of newly-arrived mannequins in Hongkong on Thursday for the opening of Madame Tussaud's Wax Museum. The August opening will mark the third permanent overseas branch, after
      AFP  -  60 words
    • Article
      Lock icon M'sian inflation set for marginal rise in second half
      365 10  -  Higher bus fares and rising producer price index cited Froml Diana Oon Abdullah in Kuala Lumpur INFLATION in Malaysia, which stood at 1.5 per cent for the first half of this year compared with a year ago, is set to rise
      365 words
    • Article
      Lock icon No money to save Bank Bali: BI official
      227 10 JAKARTA Bloomberg INDONESIA'S central bank does not have enough money to pump fresh capital into PT Bank Bali, said a senior Bank Indonesia (BI) official. The cost of recapitalising the lender is rising because of delays from a dispute between the government
      Bloomberg  -  227 words
    • Article
      Lock icon Grik was a cry of the marginalised
      1153 10  -  writer's fffrnrnn karim raslan Karim Raslan is a KL-based writer and lawyer EARLY in the morning on July 2, a group of men masquerading as army personnel entered a military camp in Grik in northern Perak and made off with a haul of
      1,153 words
    • Article
      Lock icon SEC list in BW case may have 39 names
      161 10 MANILA Bloomberg THE Philippines' Securities and Exchange Commission has said it may add another person to its list of those already facing charges in the nation's biggest insider-trad-ing scandal. This would bring to 39 the number of people already involved in
      Bloomberg  -  161 words
    • Article
      Lock icon Official rejects Daim may quit rumours
      49 10 ■KUALA LUMPUR RUMOURS that Finance Minister Daim Zainuddin may resign are not true, a government official has told AFX-Asia. "The rumours are not true. As long as we don't hear it from Daim or the Prime Minister, we accept it," said the official.
      49 words
    • MARKET moves
      • Article
        Lock icon Idris up on takeover news
        105 10 IDRIS Hydraulic surged 16.5 sen to 89.5 sen yesterday on news that it will be taken over by Annuar Senawi, the nephew of Malaysian Finance Minister Daim Zainuddin. Traders said the share price may surge again on Monday on the back of the ownership change
        105 words
      • Article
        Lock icon Investors cautious on IT stocks
        71 10  -  Compiled by 1 Eddie Toh MALAYSIAN technology stocks such as Mesiniaga and Unisem are back in demand, but investors are still cautious on the sector despite the strong recovery of tech stocks on Nasdaq, the technology bourse in the US. Mesiniaga and Unisem rose RMI
        71 words
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      Lock icon Page 10 Advertisements Column 1
      123 10 Wanted for a company recently established in Singapore in collaboration with a US Telecom company with extensive software and hardware capabilities and development units located in India. We are seeking a senior professional with at least 10 years telecommunication experience in this region, should have held a managerial position. The
      123 words
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  • WORLD news
    • Article, Illustration
      Lock icon Fallout from Sogo crash may be widespread, last longer
      895 11  -  Possible Bank of Japan may now hesitate to end zero interest rate policy From Anthony Rowley in Tokyo PARALLELS between the bankruptcy of Japan's Sogo department store chain and the collapse in 1997 of Yamaichi securities, one of the nation's leading
      XINHUA  -  895 words
    • Article
      Lock icon US, Vietnam sign historic trade accord
      780 11  -  Clinton calls it a step in process of normalisation, reconciliation and healing between the nations FYom 1 Leon Hadar in Washington DESCRIBED by President Bill Clinton as "another historic step in the process of normalisation, reconciliation and healing between our two nations", US and
      780 words
    • Article
      Lock icon Great Scott! The other CF opens for business
      304 11 HONGKONG Bloomberg SCOTT Chace and Robert Fleming, two former equity traders, are amused by suggestions that a new Hong-kong-based fund management joint venture will benefit from similarities between its name and those of bigger rivals. While Chase Manhattan Corp's acquisition of Robert
      Bloomberg  -  304 words
    • Article
      Lock icon Mixed outing for HK tech stocks
      306 11 HONGKONG Reuters TECH counter Henderson Cyber Ltd closed just below its offer price yesterday due to poor institutional interest but software provider Grandmass Enterprise Solution Ltd held its head above water with short-term retail support. Henderson Cyber, a technology spin-off of property giant Henderson
      Reuters  -  306 words
    • Article, Illustration
      Lock icon Heady concoction for Okinawa summit
      102 11 [NAHA, Japan] Liquor store clerk Chie Oyakawa yesterday holding a bottle of "Okinawa Summit 2000Awamori", a local drink of the southern Japanese island of Okinawa, which is on display at Naha Airport. Awamori is made from rice and the commemorative bottles have been emblazoned with
      REUTERS  -  102 words
    • Article
      Lock icon Modest growth for Japan in next few years
      608 11  -  This is due to ongoing revamp in many sectors: EPA From. Anthony Rowley in Tokyo JAPAN'S economic growth rate is likely to remain modest for several years to come because of the restructuring process under way in many sectors of Japanese industry,
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      Lock icon British govt sets stage for control of ITV network
      336 12 LONDON Merger ruling dears way for 'battle' between rivals Reuters THE British government kicked off a longawaited battle for control of the ITV television network yesterday when it cleared the way for a trio of proposed mergers between the three companies
      Reuters  -  336 words
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      Lock icon Jack Welch gets record US$7.1m advance for book
      712 12 NEW YORK NYT TIME Warner Trade Publishing on Thursday acquired the right to publish a book by Jack Welch, the widely-ad-mired chairman of General Electric Co, for a record advance of US$7.l million (5512.4 million), more than advances previously paid for books
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      Lock icon 3 banks to join Commerz, Dresdner: daily
      348 12 FRANKFURT Unlikely to happen now, say banking sources AFP A MERGER plan between Germany's third and fourth-biggest banks, Dresdner Bank and Commerzbank, could include French, Swiss and Spanish partners, the mass-circula-tion daily Bild reported yesterday. Quoting "banking insiders", the newspaper, the most widely-read
      AFP  -  348 words
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      Lock icon Archipelago Exchange looks across Atlantic for tie-up
      335 12 NEWYORK FT THE new electronic stock market created by Archipelago and the Pacific Stock Exchange could include a trading link by the end of the year with Virt-x, the European market created this week by Tradepoint of the UK and the Swiss stock
      FT  -  335 words
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      Lock icon Osaka exchange agrees to list Nasdaq derivatives
      88 12 NEW YORK AFX-Asia THE Nasdaq Stock Market Inc said it has signed a memorandum of understanding with the Osaka Securities Exchange to list exchange traded funds on Nasdaq Japan and for futures and options based on Nasdaq indices to be traded on the
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      Lock icon Head under
      60 12 [BRISBANE) Brazil's Fernando Meligen doing a handstand during a match against Lleyton Hewitt of Australia in the in the second match of the Davis Cup semi-final in Brisbane, Australia, yesterday. Hewitt won the match 6-4, 6-2, &3. Earlier, Australia's Pat Rafter played against Brazil's Gustavo Kuerten in the
      AP  -  60 words
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      Lock icon Asian nations criticise EU for restrictive trade
      537 12  -  They raise concerns about trade defence instruments Prom D Ravi Kanth in Geneva KEY Asian members of the World Trade Organization (WTO) yesterday sharply criticised the world's largest trading bloc the European Union for its highly restrictive trade policies on textiles and agriculture,
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      Lock icon Schroeder pulls off tax reform coup
      356 12 BONN Parliament passes tax cuts, boosting bid to boost growth Reuters GERMAN Chancellor Gerhard Schroeder yesterday pulled off a coup in his bid to boost growth and jobs in Europe's biggest economy by clinching parliamentary approval for 50 billion marks (5541.5 billion) in tax
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  • FINANCE & commodities
    • Article
      Lock icon STI futures post lowest volume but end higher
      307 13  -  SGZ Derivatives Tradingßeports ST lndoJc/MS& S'pore Index Chan Yet San SINGAPORE stocks yesterday closer lower for the second consecutive day. The Straits Times Index gave up 5.12 points or 0.25 per cent to close at 2,079.89 points. Within the index, 16 counters
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      Lock icon Futures up on bargain hunting for tech stocks
      238 13  -  MSCI Taiwan Index Chan Yet San TAIWAN stocks yesterday chalked up another big gain for a second straight session. The MSCI Taiwan Index closed at 376.12 points, rising B.a points or 2.4 per cent. Volume within the index was active at 1.17
      238 words
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      Lock icon Oil fells amid Opec disunity
      201 13 EMEROT REPORT Reuters [LONDON] Oil prices slipped early yesterday as Opec sent conflicting signals over how and when it would boost supplies to relieve consumer concern over sky-high oil prices. London benchmark Brent crude for September delivery was off 17 US cents by 1035 GMT
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      Lock icon CURRENCY REPORT
      326 13 Reuters London THE euro lost ground against other major currencies yesterday on cautiousness ahead of US data due shortly and after brief support from the passage of tax reforms through Germany's Parliament. The yen was pausing for breath against the US dollar after a roller-coaster ride in the
      Reuters  -  326 words
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      Lock icon Untitled
      1274 13 nyTERBAMK CROSS RATES Jul 14 A$ C$ »■> Ur» ffr Dm HK$ Ind 8s Bupiah Ytfi Won BM WZS Pak Bi Peso S$ Sfr WTS Baht Powd US$ Australia 0.867 4.856 0.625 4.104 1224 4.561 26.120 55.265 0.631 6.510 2.223 1.270 30.593 26.041 1.018 1997 0.970 18.077 23.415 0.390 0.585
      1,274 words
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      Lock icon Untitled
      1875 13 WCOM FUTURES JulN RUMCR Mm dwtaq at 5.30pm) RSS1 CONTRACTS cwfcAq) ClOM Volume Open MbwUi Hty) Low Sett (tonnes) Ictemt Am 00 112.50 Sop 00 116.75 400 Oct oo ns.oo Nov 00 118.75 RSS 3 CONTRACT (US cwts/kf) Volume Open MowMl Htyl Low Sttt (tonnes) Interest tog 00 64.25 64.25
      1,875 words
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  • STOCKS east asia
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      Lock icon Shares end at week high led by Hutchison gain
      2872 14 HONGKOMG AFP PI Hang Seng +136.66 SHARE prices in Hongkong closed 0.8 per cent higher yesterday, boosted by late session gains in Hutchison Whampoa and Cheung Kong, dealers said. The benchmark Hang Seng Index gained 136.66 points to close at a
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      Lock icon Nikkei rises 0.6% as Sogo shock subsides
      1959 14 TOKYO AFP Hmfrtas ♦mm SHARE prices in Tokyo closed 0.6 per cent higher yesterday as investors recovered from the shock of the collapse of Japanese department store chain Sogo, brokers said. The Tokyo Stock Exchange's key Nikkei 225 Index gained 106.00 points to
      AFP  -  1,959 words
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      Lock icon CHINA
      988 14 Reuters Fl Shenzhen B Index +&33 CHINA'S hard currency B shares closed up yesterday, lifted by rosy economic data, hopes of better midyear company results and stronger A shares. The Shanghai B Share Index rose 0.19 per cent, or 0.11 of a point, to 57.35 on moderately lower turnover
      Reuters; Source: Credit Lyonnais Securities (Asia) Ltd  -  988 words
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      Lock icon TAIPEI
      361 14 AFP □WP Index +229.47 TAIWAN shares closed 2.8 per cent higher yesterday as investors regained confidence and the government bought strongly, dealers said. The Taiwan Stock Exchange Weighted Price Index rose 229.47 points to 8,497.13, following a 2.6 per cent rise in the previous session. "Yesterday's rally convinced investors
      AFP  -  361 words
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  • STOCKS klse
    • Article, Illustration
      Lock icon Shares dip on profit-taking, Daim rumours
      436 15 AFP CI Composite Index -453 MALAYSIAN shares closed off their lows yesterday in heavy trade due to profit-taking, dealers said. The Composite Index fell 4.53 points, or 0.5 per cent, to 856.24. The Second Board Index lost 4.25 points to 231.20. Dealers said sentiment
      AFP  -  436 words
    • Article
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      8956 15 INDUSTRIALS Consumer products 2000 Last Vol Day Net Cap High Low Company Sale 'OOO High Low P/E Jmil 420 310 A)inomoto 360 19.7 145.9 158 62 Anqkasa 76 -6 18 82 76 112.1 670 290 Apollo Food Hlq 480 18 I 480 480 10.4 192.0 3350 2700 BATSOc 3275 25
      8,956 words
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      23 15 GET THE ONE THAT FITS! IlM'SlnutsTliiMy Multi-skilled worker, aspiring leader, all-rounder, star performer... Find the right staff through The Straits Times Recruit. 1800-74M883
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  • SGX clob & regional stocks
    • Article
      Lock icon Untitled
      2905 16 BONDS A WARRANTS mm m Wrmt rnml ifn Lot V* Dn IHwli In ntmt Um tier Mk MM «i» Lew *—f" T Ml -r C0001 MM l* layer M« Mot |eaa*s) MM Mn Ok) te>na«2 UK sis i* c m wnin75i 20 5 H 121 22 20 19 5 20.5
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      Lock icon SEOUL
      304 16 AFP n Composite Index -17.80 SOUTH Korea's Composite Index fell 17.80 points to 827.95 yesterday. Volume was 363 million shares worth 2.9 trillion won. AFP MM Anam Semi ***** 250 Drain Tacit 940 10 Central Barv* WIS -IS CrwilCOflMli *****0 -500 Da* Gu Bin* 2375 -95 Duung Corp 2020
      AFP  -  304 words
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      Lock icon MANILA
      269 16 AFP n Composite Index -7.63 PHILIPPINE shares fell 0.5 per cent yesterday as investors scooped up profits after the previous day's upturn, an analyst said. The Composite Index fell 7.63 points to 1,553.89. Volume lowered to 608.4 million shares worth 640.82 million pesos. —AFP *114 N» (000) MRC Allied
      AFP  -  269 words
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      Lock icon WELLINGTON
      274 16 AFP □NXSE-40 4M NEW Zealand stocks fell 0.3 per cent yesterday but brokers said trading was active. The benchmark NZSE-40 Capital Index fell 6.05 points to 2,119.78 on turnover of NZ$l2B million. "The activity remains high in terms of market turnover," a dealer said. —AFP MM (000) Advantage HOS
      AFP  -  274 words
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      Lock icon SYDNEY
      559 16 AFP QAH Ordinaries -L9O AUSTRALIAN share prices ended 0.1 per cent lower yesterday after News Corp and BHP dragged the market down in a lacklustre session, brokers said. The All Ordinaries Index fell 1.9 points to 3,263.6 while the SP/ASX 200 was down 3.0 points at 3,303.50. Turnover totalled
      AFP  -  559 words
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      Lock icon BANGKOK
      772 16 AFP D SET fate* -487 THAI shares dropped 1.5 per cent yesterday as investors dumped blue-chip issues ahead of a three-day holiday weekend, analysts said. The Stock Exchange of Thailand (SET) Index shed 4.87 points to finish at 315.58 points. The SET 50 index was down 0.41 of a
      AFP  -  772 words
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      Lock icon JAKARTA
      685 16 AFP □Compoatelmia-Lffl INDONESIAN shares closed marginally lower yesterday with investors sidelined by growing concern over the direction of the rupiah, dealers said. Traders said the market would continue to track the rupiah for leads next week. A dealer with a local brokerage said the overall market was mostly lower,
      AFP  -  685 words
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      62 16 ma*, HOME IN ON HOB'S I I B investment porrrouo I I Ne^^ ,L^ IPO. Shares. Bonds. Stocks. Annual Reports. |g I I Whatever you're offering, we help you reach out I I to 86.7% of all adults In Slnqapore daily. V"C fi l S »Mii in 1 1 The
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  • Article
    Lock icon STOCKS sgx
    9505 17 SGZ MAINBOARD Transaction date: Jul 14 Cr Cr M Wt 32-Wk Last Vol Day Last Quota OI» Olv YM Nat Cap Avq High Law Company Sail COOO) High Low Buyar Sal lac C'vf Pit 5m« Fftea MULTI-INDUSTRY 163 101 mc AcmaSOc «4 -1 >65 129 123 123 124
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      Lock icon Page 18 Advertisements Column 1
      297 18 Where to wine, dine and entertain..."""? -Definitely the first card in the world 4545 Roti prata, sashimi, torn yam prawns, drunken chicken or New Zealand Outlands roast sirloin beef. You'll also stand a chance to win two air tickets and hotel stay to New Zealand. Japanese Buffet Lunch $23.90 (Adult),
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      58 18 f £Co 1 r3cx ter> i I HOTEL GRAND CENTRAL UMITEO j 22 Orchard Road/Cavenagh Road, Singapore *****7 Tel: 737 0044 Ext 400/02 Fax: 733 3175 A over the others. I Advertise in Wine, Dine Entertain of The Business Times and reach out to 117,000 readers daily. Contact Patrick Ang
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      1 18 nicfiß.
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      Lock icon Page 18 Advertisements Column 4
      47 18 4 HIGH TEA FAVOURITES Enjoy local and Western faiountes in a daily high-tea ImJJet at The Mezzanine Cafe Bar. 12pm to spm daily weekdays: Mezzanine Weekends: $22.80+* Reservations: 831 -6286 .Hantlarut Q Singapore JBHL. s«*Aiaa HwTvi 111 On*ard Road. Sjngapore *****7 fet 717 4411 Fax: 712 2161
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  • Page 18 Miscellaneous
    • Miscellaneous
      Lock icon Page 18 Miscellaneous Column 1
      892 18 \\l\ I II central 10.00 JAG: Webb of Lies. 5.00 Rakan Tiga. 10.02 Glimpses Of Asia (r). 11.00 Mortal Kombat: Con- 5.30 Aksi Mat Yoyo. 1030 At Home With (r). 8.00 AM Kids Central: 64 quest Thicker Than 6.00 Frootees: Jarum Emas. u.OO The World Tonight. Zoo Une/Animal Blood. 630
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    • Miscellaneous
      Lock icon Page 18 Miscellaneous Column 2
      300 18 CRYPTIC CROSSWORD ACROSS arrival in home? (4-6) 1 Further back, be in the way (6) Notes stronghold requires hard 4 It's no longer thought safe to work prevent fires (8) 7 Disconcerted, we hear, by king--9 Aussie beer makes one short (6) and thick? (6) 8 Be into kind of
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  • The Arts
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      Lock icon Film buffs
      1063 19  -  LEE THEAN-JEEN, DIRECTOR, FILM FORMATIONS Creative people whose passion for television is matched by talent to produce content for it are setting up their own production houses. Yesterday's Executive Lifestyle looked at the industry and its teething problems; today, the writers and directors fuelling this production boom share
      1,063 words
    • COVER STORY
      • Article, Illustration
        Lock icon A documentary approach
        603 20  -  GALEN YEO, CREATIVE DIRECTOR, THE MOVING VISUALS CO Hy\ Parvathi Nayar HE loves the documentary as an "organic visual medium". "Successful television programmes are those where people feel a relationship with what they're viewing. People are instantly, instinctively, interested in other people, and documentaries are moving away
        603 words
      • Article, Illustration
        Lock icon Storyteller with attitude
        522 20  -  DAVID CHIN, PRODUCER, LIVE ART By, Joyce Koh CONVERSATION with David Chin is interposed frequently with his laughter. It seems little can daunt the man. With a love for extreme sports such as micro-lighting an activity that combines parasailing with motorbiking this daredevil and confident attitude also
        522 words
      • Article, Illustration
        Lock icon More than meets the eye
        704 20  -  CHRISTINE LIM, PENTIMBftTO By, Joyce Koh CHRISTINE ÜBkexudes this calm which makes it understandable why she is so good at what she does. She runs a one-man show for her five-month old company, Pentimento, and garners all the skills and talents needed when an opportunity
        PHOTOS: SIEW YAW HOONG  -  704 words
      • Article, Illustration
        Lock icon Pocket dynamo
        708 20  -  FRANCIS CHOWDHURIE, INDEPENDENT PRODUCTION MANAGER, THE COMPLETE PICTURE By, Joyce Koh IT is intriguing watching Francis Chowdhurie's hands talk. They flail furiously, punch the air energetically and wave around happily whenever he wants to emphasise a point or when he gets excited about a topic. A self-confessed dessert
        708 words
    • Article
      Lock icon Local musicians voice concerns
      846 21  -  They cite insufficient media coverage, need to cultivate public awareness By. Aaron Lye CAREER opportunities took a back seat at a recent meeting between local musicians and ministry officials, overshadowed instead by concern over insufficient media coverage and a need to instill arts appreciation among Singaporeans.
      846 words
    • Article, Illustration
      Lock icon God of all things
      767 21  -  parvathx nayar has a good look at the many faces of Krishna, the Blue God, at the ACM PARVATHI NAYAR HE captures your imagination with his swashbuckling exploits, your mind with his rigorous intellectual examination on the meaning of life, and your heart with adventures flowing
      PHOTOS: SIEW YAW HOONG  -  767 words
    • Article, Illustration
      Lock icon A bizarre presentation of fear
      526 21  -  H'h Joyce Koh WOULD you freak out if the person sitting placidly next to you in the audience suddenly started lamenting in anguish? This was exactly what happened during The Necessary Stage's presentation of [names changed to protect the innocent]: circus of fear. Seeking to
      526 words
    • Article, Illustration
      Lock icon The other side of Indian art
      372 21  -  Contemporary works of the '508 are the subject of today's talk at the SAM By- Aaron Lye WHEN one thinks of Indian art, what normally comes to mind? Images of majestic Hindu temples with walls and ceilings lavishly adorned, perhaps. As with all other
      372 words
    • Article, Illustration
      Lock icon THE PROGRAMME
      1660 22  -  Compiled by M Yasotha MUSIC Singapore Symphony Orchestra Singapore Symphony Chorus 25th Anniversary Concert The Singapore Symphony Orchestra's new season opens with vocal fireworks with Gounod's opera Romeo et Juliette which gives a delightful start to a vibrant programme. Also in the programme is Carl OrfFs Carmina Burana,
      1,660 words
    • Article, Illustration
      Lock icon SPOTLIGHT
      359 22 Tbm Bans Ong Kim Seng, Recent Works will showcase more than 30 watercolour paintings by this acclaimed local artist. Ong is holding his first solo exhibition in Singapore in more than a decade. Plot and Players: So many accolades have been heaped upon Ong yet so little has been
      359 words
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  • Page 22 Advertisements
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      104 22 If you are enthusiastic about the securities industry and would like to be a remisier, we can initiate you towards your goal. We are looking for mature people with drive and good potential client network to be part of our organisation. If you have passed the Dealer's Representatives' Examination, we
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