The Business Times, 23 September 2000
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2000-09-23
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The Business Times
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Title Section14 2000-09-23 1 THE BUSINESS TIMES MITA(P) 035/12/1999 85* SINGAPORE Internet: http://business-times.asial .com.sg/ SATURDAY, SEPTEMBER 23, 200014 words
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Article76 2000-09-23 1 Dsn H32J9 (-55.82) MI ***** (-14.60) ST INDEX FUTURES MOJO (-59.00) ri BDBCIFUTUIES mm Maao (-8.10) STOCK MABZET INDICES Friday Change KLSE COUP ***** -7 J59 NIKKEI 22* I Wl&» ***** HANG SENG 14*1188 —-»117 SET INDEX *7414 -8J9 JAKARTA COMP—488J2 -10-7® MANILA OWIP _l.48fl.81 -108 TAIPEI WPI76 words
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Article71 2000-09-23 1 FOBEX BATES uss ss USS £(liSS/S$ per 1449 2*33 EUB0(U8$/S$/E) 0.862 L608 DM IM8 1-29' YEN 1972 6150 RM JJOO 2.173 HKt 7.798 4.459 BAHT 24.50 RUP1AH 8,797 5,030 RUE BATES SINGAPORE* 5.80 KUALA LUMPUR 7.67 JAKARTA J9.00 BANGKOK J.56 MANILA 1100 HONGKONG 8.50 TAIPffl 7.84 SYDNEY 8.50 TOfcVO71 words
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643 2000-09-23 1 Group of Seven nations lannch concerted intervention as concern mounts that euro's weakness could hurt global economy AP Bloomberg THE world's most powerful central banks took action yesterday to stem the rot of the ailing euro. Swinging into action were the GroupAP; Bloomberg - 643 words
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Article, Illustration506 2000-09-23 1 R Sivanithy - Intel warning, rising fuel prices contribute to meltdown By R Sivanithy [SINGAPORE] A shock profit warning by US chip maker Intel after Wall Street closed on Thursday sent shudders throughout all regional stock markets yesterday as worries erupted that Nasdaq could faceSource: Bloomberg - 506 words
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Article183 2000-09-23 1 AP [NEW YORK] Stocks plunged in early trading yesterday as investors fled the markets in the wake of add itional profit warnings by bellwether companies this time chipmaker Intel Corp. In the first hour of trading on Wall Street, the Dow Jones Industrial AverageAP - 183 words
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525 2000-09-23 1 Q3 sales will fall short of forecasts; share price down 25% [SANTA CLARA, California] Intel Corp, the world's largest computer-chip maker, said on Thursday that third-quarter sales will fall short of forecasts because of weaker demand in Europe. The warning sent Intel shares plunging525 words
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Article, Illustration400 2000-09-23 1 Ven Sreenivasan - By Ven Sreenivasan [SINUArUKriJ Kuaia L,umpur nas failed in a fierce bid to edge out Melbourne as host of the opening race of next year's Formula One Grand Prix season. But it has clinched the second race, ousting Buenos Aires,400 words
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Page 1 Advertisements
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Advertisement92 2000-09-23 1 IMBIPE Th« Arts The Young Art Award: Poet, painter, opera singer, violinist, theatre director and Back Pag* Top Stories ■I flp. Speculators led attack on CyberWorks, says Richard Li. Pg 14 Closed-end funds surge after GSI liquidation proposal. Pg 6 BG Lee: Crossborder links could spelt end of local banks.92 words
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Advertisement18 2000-09-23 1 Electronics counters slide over Intel warning, Pg 4 HK down 3.6%, Pg 4 Shockwave across Asia, Pg 418 words
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Advertisement23 2000-09-23 1 v I^^^ Olympics update, Pg 13 i Kim Eng: first broke NOL earnings to confirm new commission rates t Next Page Next Page23 words
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Article, Illustration588 2000-09-23 2 Conrad Raj - Net earnings of USs49m 'dramatic by any measure', gays Jacobs By Conrad Raj [SINGAPORE] Neptune Orient Lines has managed an almost five-fold increase in its interim net earnings to US$49 million (SsBs million), although the performance still trails the forecasts of those analysts who areCHRIS LOH - 588 words
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Article410 2000-09-23 2 Corinne Kerk - rnRPOR ATE I Irn a By Corinne Kerk THE penthouse unit in the NOL Building where Neptune Orient Lines held its interim results briefing yesterday is one groovy looking place. You know, in a 70s sort of way. Check out the dark pink carpeting; bamboo-framed windows with410 words
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319 2000-09-23 2 A week after Ford pulled oat of Daewoo deal the govt says the country's economy is 'not good' [SEOUL] An apologetic Korean government said yesterday it needs another 50 trillion won (Ss77 billion) to prop up banks after a planned319 words
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343 2000-09-23 2 R Sivanithy - It also sets new fee-sharing scheme for dealers and remisiers By R Sivanithy [SINGAPORE] Kim Eng Securities yesterday became the first broker to confirm its new commission rates. In an internal circular to dealers and remisiers, it said trades up to343 words
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ON THE grapevine
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Article131 2000-09-23 2 AFTER another horrible session on Asian bourses yesterday, it's understandable that fingers are again being pointed at evil speculators. But one wit called to point out something even more interesting. He said that at current prices, Sing Tel could buy Pacific Century CyberWorks to get131 words
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Article100 2000-09-23 2 ACCORDING to new research by KPMG Consulting, dotcom business leaders have a very different social life from that of their traditional counterparts. A third of dotcom leaders rarely or never have time to socialise with colleagues and clients. And when it comes to reading, almost half choose a100 words
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Article66 2000-09-23 2 HERE'S one for our female readers. Manhunt International 2000 has again kicked off in Singapore. And for 10 days, 36 hunks from all over the world will compete for honours. The grande finale takes place at the Neptune Theatre next Friday. And here's what's a little unusual: Mr66 words
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Page 3 Advertisements
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Advertisement90 2000-09-23 3 GENTLEMEN, EXCUSE ME A MINUTE, I NEED TO TURN DOWN THE OVEN AND TAKE A PEEK AT THE KIDS AT HOME. ■■"r t."' T ■-7.Z--.'iv_...tl-- ':'\ul~~' -.Jw-■•' WITH AN AERADIO INTELLIGENT BUILDING. YOU'RE NEVER TOO FAR FROM HOME. WHETHER IT'S CHECKING ON THE KIDS. LETTING THE REPAIRMAN IN OR UPDATING90 words
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MARKETS watch
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Article, Illustration605 2000-09-23 4 David Boey - Index is now at 31/2-month low of 153.09 points; only IPC bocks trend, closing half a cent np Reports by David Boey ELECTRONICS stocks wilted yesterday in a wave of selling pressure triggered by a shock profit warning from Intel Corp, the world's largestSource: Bloomberg - 605 words
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240 2000-09-23 4 NORTH American-based makers of semiconductor equipment posted record monthly bookings (three-month moving average) of more than US$3 billion (555.2 billion) in August, industry watchdog Semiconductor Equipment and Materials International (Semi) said on Thursday. Record sales reported by US semiconductor firms resulted in a book-to-bill240 words
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Article, Illustration796 2000-09-23 4 Quak Hiang Whai - Shanghai, Shenzhen lose ground over foreign currency deposit rates From Quak Hiang Whai in Hongkong STOCKS on both sides of the Taiwan Strait continued to plummet yesterday, and was sped along by Intel Corp's overnight decision to cut its forecast for its third-quarter revenue796 words
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235 2000-09-23 4 Bloomberg [BOMBAY] India's key stock index fell to its lowest level since May 25 on concern a proposed increase in domestic crude oil prices will slow the economy. The 30-stock Sensitive Index, or Sensex, fell 224.83, or 5.3 perBloomberg - 235 words
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Article, Illustration828 2000-09-23 4 Computer-related shares retreat over fears that industry outlook has dimmed Bloomberg [TOKYO] Intel Corp's admission third-quarter sales would fall short of forecasts reverberated across Asia, dragging comput-er-related shares lower on mounting concerns the industry's outlook has dimmed. Asian companies such as Taiwan Semiconductor ManufacturingBloomberg; AP - 828 words
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Page 5 Advertisements
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Advertisement584 2000-09-23 5 ■HA I We have won many awards in the past, but V winning the International Trade Award Is the most prestigeous one so far. We are very indeed jaMßfe vj K^ honoured to receive this award. f \jL M AEI Singapofß was offidaffy merged with Danzas In I May this584 words
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SINGAPORE companies
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702 2000-09-23 6 Serena Ng - Trading discount to NAY cut; shareholders of other 3 funds expect backer banks to follow DBS's lead By Serena Ng THE share price of the four listed closed-end funds surged yesterday against a declining market, reducing the huge discount at which the shares702 words
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779 2000-09-23 6 anthony rowley - HOCK I f»T»l m PtIMJ anthony rowley IS THE US economy and, by extension, Wall Street, heading for its much-touted soft landing or for a crash? Those who scrutinise mi-cro-economic aggregates like to argue that an approach to the soft landing has already begun,779 words
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Article, Illustration456 2000-09-23 6 Proceeds will be used to help fond its Ansett purchase Bloomberg [WELLINGTON] Air New Zealand Ltd, the country's dominant airline, confirmed its plans to raise NZ$2B4 million (*****.9 million) in a rights offer to fund part of its purchase of Australia's sec-ond-biggestBloomberg - 456 words
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COMPANYBriefs
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86 2000-09-23 7 THE Royal Sporting House has received approval for a public listing in conjunction with the delisting of Showpla Asia. The company has signed a deal with the judicial managers of Showpla Asia to pay $5 million to Showpla, comprising $1 million cash and over86 words
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101 2000-09-23 7 WAH Shing International Holdings reported a sharp 94 per cent drop in profits to HK$3.4 million (*****,000) for the half year ended June 30. Turnover fell 8 per cent to HK$63l million and margins tumbled as prices of its raw materials rose. The group101 words
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98 2000-09-23 7 HONG Fok Corporation reported losses of $13.3 million for the half year ended 30 June, compared to profits of $32,000 a year ago. Turnover fell 3 per cent to $25.1 million, and its operating profits were wiped out by interest costs. The company also98 words
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Article110 2000-09-23 7 SEA View Hotel sank into the red with losses of $3.1 million for the year ended 30 June, compared to profits of $906,000 a year ago. Turnover rose 14 per cent to $14.6 million, but the company had to make provisions of $849,000 for110 words
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111 2000-09-23 7 OVERSEAS Union Bank said yesterday it had appointed JP Morgan Securities Asia to advise it on the segregation of its financial and non-financial activities, as required by the Monetary Authority of Singapore. The MAS said in June that there ought to be a clear111 words
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Article51 2000-09-23 7 LI Xin Industries reported a 59 per cent higher profit of $5.1 million for the half year to June 30 as turnover rose 44 per cent to $87 million. Earnings per share went from LI cent to 1.75 cents. As before, no dividend was51 words
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395 2000-09-23 7 Kalpana Rashiwala - Property and engineering divisions help lift profits By Kalpana Rashiwala PROPERTY and engineering group Guthrie GTS reported a 3.9 per cent rise in group net profit to $6.7 million for the six months ended June despite an 11.2 per cent fall in395 words
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Article, Illustration283 2000-09-23 7 Kalpana Rashiwala - By Kalpana Rashiwala PROPERTY giant City Developments has joined the consortium that bought the Cuscaden Residence block last month for $162.7 million or $1,380 per sq ft. Confirming the move, a CityDev spokesman said the company's stake of 25 per cent would amountFILE PHOTO - 283 words
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320 2000-09-23 7 Andrea Tan - Gain was boosted by the delivery of a new LNG carrier; turnover up 7% Andrea Tan OSPREY Maritime has reported a fivefold increase in net profit to US$4.7 million (SsB.2 million) for the six months to June 30, boosted by320 words
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Page 6 Advertisements
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Advertisement1446 2000-09-23 6 NOTICES at^ver se ca ree 1800-741 1883 Fax No: 741 1298 rafcl POPULAR HOLDINGS LIMITED I (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Popular Holdings Limited will be held at 20 Old feh Tuck Rood Singapore1,446 words
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Advertisement187 2000-09-23 6 VIBRANT INVESTMENTS PTE LTD (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that the Final General Meeting of the above named Company will be held at 220 Orchard Road #05-02 Midpoint Orchard Singapore *****2 on 23 October 2000 at 9.30 a.m. for the following purposes 1.187 words
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Advertisement164 2000-09-23 6 PETROCOM SERVICES PTE LTD (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that the Final General Meeting of the obovenamed Company will be held at 220 Orchard Road #05-02 Midpoint Orchard Singapore *****2 on 23 October 2000 at 9.00 a.m. for the following purposes:1. To receive164 words
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Article3837 2000-09-23 7 Mat Mm W Kap7attaa Fin Aug 03 I 217*4 J^ 3 TV LY TV LV LC D#v S*f> 19 1932 119JL 0.99 91 rMMm mm ft ml dip) (ctt) tcti) Litoty Sip 05 H.40S HOf 1-39 flPf ,n T l™ 1 f I i UomMIn S«p3,837 words
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SINGAPORE markets
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Article468 2000-09-23 8 Sfrn-frT Volume Chart Semiconductor 26c 13,621,000 Eastern Asia 10,206,000 SingTel 15c 9,077,000 Nat Elec 10c 6,958,000 GMG Global 5c 6,009,000 NOL 6,072,000 Goodpack 1c 5,508,000 PacCentMLCW*****5 5,121,000 DBS Land 4,429,000 AchievaSc Stock* > Chart Semiconductor 26c 157,040,941 DBSGip 73,913,696 PacificCentury 45.663,900 SPH 40,535,504 Nat Bee 10c 33,565,000 DOS 26.129.683 VentureMtg25c468 words
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Article, Illustration516 2000-09-23 8 r. sivanithy - STOCKS r.sivanithy THINGS took a turn for the worse on the local stock market yesterday as worries dogged semiconductor and electronics shares after a profit warning by US chip giant Intel. Also bringing sellers out in droves were lingering fears over oil prices.516 words
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Article, Illustration192 2000-09-23 8 R Sivanithy - WARRANT WATCH By R Sivanithy THE collapse of Deutsche Bank's covered call on the Nikkei 225 index is a fine illustration of the failure of the covered warrant market here to take off. Despite the best efforts of all concerned, this relatively192 words
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Article, Illustration227 2000-09-23 8 Ven Sreenivasan - HOT STOCK By Ven Sreenivasan THE profit warning by Intel Corp has sent regional markets into a freefall, with technology stocks leading the losers. Venture Manufacturing, which has been sliding since the beginning of this month, tumbled another 60 cents or 3.5 per cent to $16.70.227 words
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Article140 2000-09-23 8 ♦FHTK will hold its AGM on Sept 29, at 12 noon, 231 A Pandan Loop. ♦BRC Asia Ltd is going ex-dividend (interim dividend of 1.4 cent) on Oct 4. Last day for buying-in on a cum basis is on Oct 9. Date payable is on Oct 20. ♦LI140 words
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Article, Illustration350 2000-09-23 8 larry wee - CURRENCIES larry wee OVERNIGHT news of lower than estimated Q3 sales at US chip giant Intel punished tech-heavy Asian bourses mercilessly yesterday, and sent most Asian currencies skidding despite a better tone for other major currencies. The Intel news was a niceSource: Reuters - 350 words
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Page 8 Advertisements
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Advertisement33 2000-09-23 8 Breaking good news! Fortune is really smiling on job seekers. Sunday RECRUIT in The Sunday Times brings you a feast of career opportunities, on top of your Saturday RECRUIT bumper. Bite into it!33 words
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Advertisement47 2000-09-23 8 Grow Your CPF With eiBht Important All applications fat units m eight mus* be made on »he application forms accompanying the prospectus Investors must read the prospectus The value cr the units and "he income from them may fall as well as rise Ol 'I >SBAf t■47 words
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MAIL bag
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409 2000-09-23 9 Samuel Heng - Samuel Heng I REFER to the letter "HDB resale: consider deregulating commission" (Mailbag, Sept 19) and HDB's reply on Sept 22. From HDB's letter, I am not sure whether HDB has addressed the points raised by Alex Ng regarding deregulating the commission or409 words
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Article, Illustration305 2000-09-23 9 Tay Koon Quie - Tay Koon Quie Head.RmkSoction for Chief Estate Administration&PropmiyQfflar Housing A Deveiopmmt Board I REFER to Alex Ng's letter, "HDB resale Oats: consider deregulating commissions" (Mailbag, Sept 19). HDB does not regulate commissions payable to housing agents. Nor does HDB require buyers and sellers of anFILE PHOTO - 305 words
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Article200 2000-09-23 9 Patrick Tan - Patrick Tan I REFER to the letter by Alex Ng, "HDB resale flats: consider deregulating commissions" (BT, Sept 19) and HDB's evasive reply, "HDB gathering feedback to refine website" (BT, Sept 22). The writer has written clearly his query and recommendations. The title of200 words
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Article234 2000-09-23 9 Audrey Phung Mei Foong - Audrey Phung Mei Foong I REFER to the letter "HDB resale flats: consider deregulating commissions" (Mailbag, Sept 19) by Alex Ng. I think Mr Ng's suggestion of a fixed commission amount ranging from $500 to $1,500 for HDB flats may work only if the following are234 words
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Page 9 Advertisements
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Advertisement81 2000-09-23 9 We welcome letters. E-mail us at bttotterQsph.com.sg or fax us at *****71, or write to: The Business Times, Times House, 390 Kim Seng Road, Singapore *****5. We need your full name, address and telephone number, so we can verify It came from you. Please use temperate language, and bear in81 words
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Advertisement259 2000-09-23 9 Singaporeans r-W |l| spends much of her free time mascots, sell for as m-m as a piece. Her > J J®S has m among local and foreign advertising I year old Fatimah Mohamad Rosli nL I^J taking jt a her stride Read V more about her in Singaporeans' Gallery on259 words
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SINGAPORE news
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748 2000-09-23 10 Chuang Peck Ming - Bnt govt most safeguard S'pore's interests and financial stability, says BG Lee From Chuang Peck Ming in Basel WITH financial liberalisation and the trend towards crossborder linkages, a day will come when Singapore has to face losing all its local banks and it748 words
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309 2000-09-23 10 MORE Singaporeans are saying "no" to the People's Action Party (PAP) when approached to stand as a candidate for the ruling party in the next general election, which must be called by 2002. "The environment is different. The sense of urgency to come forward309 words
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189 2000-09-23 10 FAR-SIGHTED moves by Japanese business news provider Nikkei has made the Nikkei Index one of the world's key stock indicators. Senior Minister Lee Kuan Yew said yesterday. Speaking at the 10th anniversary of the printing of the Nikkei international edition in Singapore, he said:189 words
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Article, Illustration367 2000-09-23 10 Serena Ng - By Serena Ng ABN Amro Rothschild, a global equity capital markets company, yesterday opened an office in Singapore to strengthen its Asia Pacific network. Formed in 1996. the company is a joint venture between ABN Amro and Rothschild and specialises in arranging equity marketARTHUR LEE - 367 words
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Article, Illustration386 2000-09-23 10 Cheah Ui-Hoon - Sculpture Square showcases M'sian artists in a 1 st anniversary offering By Cheah Ui-Hoon NUDGING Singapore closer to its aim of being a Global City for the Arts, the city's only contemporary three-dimen-sional arts space will focus on presenting art and expositions by artists386 words
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554 2000-09-23 10 Kalpana Rashiwala - BBR unit to pay homeowners price difference after resale of houses Kalpana Rashiwala THE High Court on Thursday ordered that the seven homes at Shanghai Road, which listed BBR Holdings' 70 per cent-owned subsidiary Chileon was to have completed buying for $23.8554 words
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Article170 2000-09-23 10 SINGAPORE Airlines will extend its electronic ticketing system io travel agents in Singapore and other major markets. It said yesterday a pilot project involving five agents started this month. The agents are: BTI Global Travel, P&O Garden City Travel, Safe2Travel.com, Sino-America (UIC) Tours Corporation and UOB170 words
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Article, Illustration298 2000-09-23 10 Marissa Chew - P=U=ton the economy construction By Marissa Chew THE prices of building materials continued to fluctuate within a narrow range, ending July at 112.2 points. In June, the index was at 111.9 points and in May, it was at 111.8 points, figures from the Department ofSource: Dept of Statistics - 298 words
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Page 10 Advertisements
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e-NEWS
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Article, Illustration523 2000-09-23 11 TOKYO This is on top of earlier announced job cuts of 21,000 by March 2003 Reuters Bloomberg NIPPON Telegraph Telephone Corp, the world's biggest telecoms group, may slash 6,500 jobs to offset losses and meet heightening competition, a Japanese newspaper reported. NTTReuters; Bloomberg; REUTERS - 523 words
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371 2000-09-23 11 U NEW YORK US$lO,OOO prize for hacking copyright protection software Reuters ANGERED by the music industry's bid to close down Napster and MP3.com, a group of computer hackers are organising a boycott of a competition to win US$lO,OOO (5517,448) hacking new copyrightReuters - 371 words
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eBriefs
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62 2000-09-23 11 AFX-Asia [TOKYO] Sanwa Bank Ltd and Microsoft Corp will set up a US$5O million (5587.2 million) fund in November that will invest in Asian start-up companies which provide IT related services in the financial sector, a Sanwa Bank spokesman said. The investment fund will specificallyAFX-Asia - 62 words
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57 2000-09-23 11 AP [MIAMI] A teenager who admitted hacking into Nasa computers has been sentenced to six months in jail, becoming the first juvenile hacker to be incarcerated for computer crimes. The teen, now 16, pleaded guilty Thursday to federal charges, and also admitted heAP - 57 words
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59 2000-09-23 11 Reuters [HONGKONG] New World Cyberßase Ltd, the technology investment arm of property developer New World Development, said yesterday it had disposed all its two million Chinadotcom Corp shares for HK$25O million (Sss6 million). "The proceeds from the share sale will be booked for thisReuters - 59 words
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39 2000-09-23 11 Reuters [SYDNEY] Australia's second biggest telco Cable Wireless Optus was considering a sell-off of its mobile telephone business after weeks of denying the business is for sale, the Sydney Morning Herald said yesterday.Reuters - 39 words
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Article334 2000-09-23 11 WASHINGTON Reuters AMERICA Online Inc and Time Warner Inc have given European officials a formal set of concessions to win approval of their US$lB3 billion (SS3IB billion) merger, the Washington Post reported yesterday. The paper quoted sources who have reviewed a document on theReuters - 334 words
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708 2000-09-23 11 MONTE CARLO Training, devt more important than salary: an expert IHT LIKE teenagers facing a current account for the first time, many of the world's Internet companies are having to grow up in a hurry when it comes to managing theirIHT - 708 words
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Article198 2000-09-23 11 Reuters [LONDON] British online bank Egg pic is to give each of its customers £100 (*****) worth of security software in a bid to allay fears about the risks of Internet banking, the Financial Times said yesterday. Hie software, to be provided by NetworkReuters - 198 words
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Article, Illustration324 2000-09-23 11 Bloomberg AT&T Corp, the largest US cabletelevision company, said it will test software from Liberate Technologies Inc to let people use the Internet and play video games on TV. The test will start late this year and if successful AT&T will use theBloomberg; AP - 324 words
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REGIONAL news
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Article, Illustration707 2000-09-23 12 Shoeb Kagda - Finance minister emerges on top in tussle with economics chief From Shoeb Kagda in Jakarta INDONESIA'S Minister for Finance Prijadi Praptosuhardjo has won a crucial battle for control of the country's more than 100 stateowned enterprises, reinforcing his grip over the economy andREUTERS - 707 words
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Article77 2000-09-23 12 Bloomberg THE Kuala Lumpur Stock Exchange will add Unisem, Mesiniaga and Nikko Electronics to the benchmark KL Composite Index on Nov 6. The selection took into account "the sector representation, market capitalisation (and) trading volume", the exchange said yesterday. Unisem is Malaysia's No 2 listed chipmaker; Mesiniaga isBloomberg - 77 words
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337 2000-09-23 12 KUALA LUMPUR AFX-Asia PENGURUSAN Danaharta Nasional Bhd said it has not bailed out the shareholders of Hottick Investment Ltd, which owns 80 per cent of Philippines-based National Steel Corp (NSC). Danaharta, which has been assigned Hottick's stake in NSC, said in a question-and-answer press release:AFX-Asia - 337 words
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718 2000-09-23 12 BANGKOK Country's 13 banks have l-5t baht in NPLs that have yielded no revenue for at least 3 months Reuters THAILAND looks increasingly likely to set up a government-run finance company to manage billions of dollars of bad loans on theReuters - 718 words
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Article303 2000-09-23 12 JAKARTA AFP AP INDONESIAN President Abdurrahman Wahid said yesterday he sacked the national police chief for refusing to arrest a son of former president Suharto and a Muslim leader he had linked to the recent bomb attacks in Jakarta. "I had ordered (the police)AFP; AP - 303 words
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232 2000-09-23 12 KUALA LUMPUR AFP MALAYSIA'S southern Johor state will stop buying treated water from Singapore when its water treatment plant is completed in two years, company officials said yesterday. Malaysia, which supplies raw water to Singapore, has complained about the islandstate'sAFP - 232 words
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Article159 2000-09-23 12 BANGKOK AP THAILAND'S state-con-trolled stock exchange yesterday outlined plans to transform itself into a corporation, the first step toward privatisation. Corporatisation is intended to improve the competitiveness and efficiency of the market, which has been shunned by foreign investors, said Stock Exchange of Thai landAP - 159 words
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Article, Illustration362 2000-09-23 14 Sinking feeling Stock lost 16% on Thursday following C&Ws sale, bringing loss since start of month to 39% Reuters [HONGKONG] Richard Li, chairman of Internet and telecoms group Pacific Century CyberWorks, has blamed speculators for leading the attack on the company's shares,Reuters - 362 words
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247 2000-09-23 14 HONGKONG Slowest pace in 17 months suggests deflation ending Bloomberg HONGKONG'S consumer prices fell at their slowest pace for 17 months in August, as the cost of housing and food dropped less, suggesting that almost two years of deflation may be ending soon.Bloomberg - 247 words
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357 2000-09-23 14 BEIJING Reuters CHINA'S Cabinet has approved landmark rules that will allow private companies to operate Internet and other value-added telecommunications services legally for the first time. In a session on Wednesday presided over by Premier Zhu Rongji, the State Council passedReuters - 357 words
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ASIANotes
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83 2000-09-23 14 AFP [NEW DELHI) Prime Minister Atal Behari Vajpayee has said India should brace for a steep rise in the price of petroleum products to offset a global increase in the cost of crude oil, news reports said yesterday. Petroleum ministry officials and the newspapersAFP - 83 words
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75 2000-09-23 14 Reuters [BEIJING] China has approved a joint venture proposal for a 13.3 billion yuan (512.8 billion) petrochemical project involving an Exxon Mobil subsidiary and Saudi Arabia's Aramco in the southeastern province of Fuji an. officials said yesterday. Fujian Refining and Chemical Co would have aReuters - 75 words
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82 2000-09-23 14 AFX-Asia [HONGKONG] Henderson Land Development Co Ltd vice-chairman Lam Ko Yin said unit Henderson Development Ltd and associate Hong Kong and China Gas Co Ltd will invest a total of US$lOO million (5J174.5 million) for a strategic stake in China Petroleum Chemical Corp (Sinopec). AccordingAFX-Asia - 82 words
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467 2000-09-23 14 Quak Hiang Whai - From Quak Hiang Whai in Hongkong CREDIT rating agency Standard Poor's (S&P) yesterday warned of increasing uncertainty and business risks in the Hongkong telecommunication industry which is headed for a major shakeout as the players get drawn into the risky third-generation (3G) mobile phone467 words
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446 2000-09-23 14 TAIPEI Rising bankruptcies, corruption probe taking their toll Bloomberg SHARES in China Development Industrial Bank, First Commercial Bank and other Taiwan lenders, hovering near their lowest levels in seven years, are unlikely to rally amid rising bankruptcies and a government corruption probe,Bloomberg - 446 words
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Article212 2000-09-23 14 ISLAMABAD Reuters PAKISTAN raised domestic petroleum prices yesterday in line with sharp increases on world markets, a day after concluding crucial loan talks with the IMF. Usman Aminuddin. Minister for Petroleum and Natural Resources, told a news conference that the government had no option but toReuters - 212 words
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Page 12 Advertisements
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Advertisement192 2000-09-23 12 Baker Hong Kong IT, Communications and E-commerce L aw ye r s Baker McKenzie is a true global law firm with 61 offices spread over 35 countries. Our Hong Kong office is the latest of these and is a major hub of our Asia Pacific IT, Communications and ECommerce practice.192 words
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SYDNEY 2000
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Article, Illustration652 2000-09-23 13 SWIMMING AFP GARY Hall Jr and Anthony Ervin shared the gold yesterday, ending Alex Popov's quest for a third straight Olympic title when they finished tied for first in the men's 50m freestyle. Popov had already missed out on a slice of OlympicAFP - 652 words
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Article, Illustration720 2000-09-23 13 Bulgaria weightlifters thrown out of Games after two more tested positive for drugs; US adds 3 more swimming golds to its tally AFP Reuters Canada's defending Olympic sprint champion Donovan Bailey crashed out in the 100 metres heats here yesterday, while world record holder Maurice GreeneAFP; Reuters; REUTERS; AP - 720 words
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Article, Illustration465 2000-09-23 13 TENNIS AFP (SYDNEY] American involvement in the men's tennis at the Olympics came to an abrupt and embarrassingly premature end yesterday as their US teammate Venus Williams moved a step closer to gold in the women's singles. Jeff Tarango, the only American to get throughAFP; REUTERS - 465 words
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517 2000-09-23 13 BADMINTON China already has 3 gold medals and may get a fourth today AP DENMARK'S star badminton duo, who are a love-pair off court, went down in defeat yesterday to unstoppable opponents from China, which has emerged at the top of badminton competitionAP - 517 words
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Article, Illustration366 2000-09-23 13 TABLE TENNIS Reuters SINGAPORE'S Jing Jun Hong staged another upset to move into the semifinals of the women's table tennis tournament at the Olympics yesterday, knocking out lOth-seeded Mihaela Joana Steff of Romania. Jing's tough 22-20 21-12 19-21 22-20 victory follows a first-roundReuters; AP - 366 words
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Article, Illustration243 2000-09-23 13 GOLD SILVER BRONZE TOTAL USA 16 10 14 40 China 12 7 8 27 Australia 8 11 9 28 France 8 10 4 22 Italy 7 3 10 20 Netherlands 6 2 3 11 Russia 5 8 9 22 Romania 5 2 4243 words
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Page 14 Advertisements
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Advertisement125 2000-09-23 14 Since 1975 our worldwide staff of over 275 multi-disciplined professionals W v W including lawyers, chartered accountants. i V chartered secretaries and bankers have B ft 1 provided confidential and cost effective company formation in all the major low |P| t3X areas inc ut n 9 Incorporation Fees from USS500125 words
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WORLD news
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709 2000-09-23 15 WASHINGTON Psychological impact of release may dampen speculative fever bat prices may not fall uracil Reuters Bloomberg PRESIDENT Bill Clinton and his aides will likely spend some time discussing whether he should release some oil from the US Strategic Petroleum Reserve (SPR),Reuters; Bloomberg - 709 words
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Article, Illustration541 2000-09-23 15 LONDON Europe's newest bourse won't say if it'll bid for LSE Bloomberg Reuters EURONEXT NV, which yesterday becomes Europe's sec-ond-biggest stock exchange, should link with other European rivals because being home to about a quarter of Europe's equity isn't enough, some shareholders said.Bloomberg; Reuters; REUTERS - 541 words
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218 2000-09-23 15 LONDON Bloomberg MERRILL Lynch Co, the largest US securities firm, said it decided to step down as adviser to the London Stock Exchange after a plan to merge with Deutsche Boerse AG collapsed. The decision to withdraw comes two weeks after MerrillBloomberg - 218 words
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525 2000-09-23 15 WASHINGTON AFP Bloomberg BILL Gates' fortune is bigger than the annual output of Peru, and the 400 richest Americans together have nearly as much as the gross domestic product of Britain, Forbes magazine says. The chairman and founder ofAFP; Bloomberg - 525 words
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Article, Illustration636 2000-09-23 15 LONDON It most deal with losses in Europe, faltering US alliance Reuters AP Bloomberg IT'S back to the drawing board for British Airways after BA and KLM Royal Dutch Airlines broke off talks on Thursday about a longplanned merger, blaming intractable commercialReuters; AP; Bloomberg - 636 words
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376 2000-09-23 15 PARIS AP FRENCH President Jacques Chirac on Thursday lashed out in fierce denial against a report in a respected daily newspaper that linked him to allegations of shady funding of his conservative party while he was prime minister in the 1980s. "These allegations areAP - 376 words
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FINANCE & commodities
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294 2000-09-23 16 Lau Chee Keong - SGZ Derivatives TnMa&Report ST Indev/MS&STpore Index Lau Chee Keong THE Straits Times Index fell for a record 14th day yesterday, led by technology stocks after a surprise earnings warning by Intel Corp. Intel Corp warned that its sales may go below market expectations, raising294 words
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215 2000-09-23 16 Chan Yet San - MSCI Taiwan Index Chan Yet San THE Taiwan stock market went downhill yesterday. The MSCI Taiwan Index suffered a 15.09 point or 4.9 per cent drop to close at 293.02 points. Trading volume within the index component counters was 976.28 million, with 17215 words
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213 2000-09-23 16 Bloomberg [JAKAßTA] Vietnam, the world's third-biggest coffee producer, wiU join a plan by a 14-nation group of coffee growers to stockpile a fifth of their beans to boost prices from near a six-year low, said the group's chairman. Vietnam, with government funds, wiUBloomberg - 213 words
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Article332 2000-09-23 16 Reuters London THE euro rose to one-week highs against the dollar and the yen yesterday as investors positioned themselves for euro-supportive moves from the Group of Seven meeting of finance ministers this weekend. A lively two-day rally in the pound against the dollar, helped by talk of sterling-pos-itiveReuters - 332 words
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Article, Illustration1241 2000-09-23 16 DtTERBAMK CROSS RATES &P& A$ C$ ffc too FTr Dw HK$ Ind K» Von Won IM K$Wh Nw S$tw< Sir MTS 0* Nwd Australia 0.8% 4.552 0.63* 4.171 1244 4276 ***** 48.241 0.588 1143 2.084 1334 3L722 25.305 0.959 4.017 0.967 17.166 23.4*7 0J79 0548 Canada 1225 5.575 0.779 5.1081,241 words
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Article1768 2000-09-23 16 SI COM FUTURES Sep 22 RU08CR (hitarw ctostoq as ft 5JOp«) RSSICOHTRACTGcwtj/*) Om» V+mm Opw Month tH«fc In 5i(t ftmmu) Mam* Oct 00 H325 Nov 00 "5.00 Dec 00 1*25 Jan/Mar 001 W00 «0 rss 3 comtiact <«««&/*) J+m op* Moatt m> Lw Sltt (touts) hrtamt Oct 00 64-75 «01,768 words
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STOCKS east asia
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Article, Illustration2865 2000-09-23 17 HONGEOMG AFP QlLugSeog -55L57 HONGKONG share prices plunged 3.6 per cent yesterday, led by technology and telecommunications stocks following Nasdaq's fall and worries over oil prices, dealers said. "Sentiment continued to be poor," said Howard Gorges, vice-president at South ChinaAFP - 2,865 words
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2027 2000-09-23 17 TOKYO AFP Qllitta 225 -MM TOKYO shares plunged 3 per cent yesterday to a six-week low, with investors fearing a dramatic fall in New York after a revenue warning by computer chip giant Intel Corp, brokers said. The Tokyo Stock Exchange's Nikkei--225 index divedAFP - 2,027 words
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Article, Illustration1053 2000-09-23 17 Reuters Q Shenzhen B Index -187 CHINA'S hard currency B shares closed sharply lower yesterday, pulled down by losses in Hongkong, in the absence of domestic market-mov-ing factors, analysts said. The Shanghai B share index ended down 4.14 per cent at 59.38 as turnover remained thin at U5516.05 million,Reuters; Source: Credit Lyo le Securities (Asia) Ltd - 1,053 words
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Article358 2000-09-23 17 AFP □WP Index -308^1 TAIWAN share prices crashed 4.5 per cent yesterday on panic selling of technology stocks following the Nasdaq's overnight fall, dealers said. The Taiwan Stock Exchange Weighted Price Index plummeted 308.81 points to 6,612.09 points, on turnover of NT574.79 billion. Decliners led advancers 448 to 127AFP - 358 words
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Advertisement6 2000-09-23 17 BT I^l TheßusinessTimes INTELLIGENCE CHANGES EVERYTHING.6 words
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STOCKS klse
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Article, Illustration421 2000-09-23 18 AFP n Composite Index -7.50 MALAYSIAN shares closed one per cent down yesterday with technology stocks hit by Nasdaq's weakness, dealers said. The Kuala Lumpur Stock Exchange Composite Index fell 7.59 points to finish at 739.57, but off an earlier lowAFP - 421 words
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Article8139 2000-09-23 18 MOUSTMALS Cmiswmt products 2000 Last VeI Doy C«# High Low Company SM 'OOP High Low Pit- $mll 420 310 A|inomoto 350 >419 158 52 Angus* 52 -3 13 55 52 76.7 670 290 Aoo*k> Food Hlq 430 -8 1 430 430 9.3 172.0 3725 2700 BA?£X™_ 3400 25 >009 34008,139 words
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Page 18 Advertisements
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Advertisement25 2000-09-23 18 Fits the job to a tee. Will blossom in the post. L Find the right candidate. J V-fMS I «B1 I Call 1800 741 188325 words
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SGX clob & regional stocks
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Article2761 2000-09-23 19 BONDS WARRAHTS Sep 22 •t Mi hmmj Utm l»« »al —I LaatOaala *n MaadCam bar Sato *m- COW) N# l»« »wr" 1*> *at» Pnt. <%) «aarta*2 Ml 6 5 unch 173 7 6 6.5 7 7 41.0 I 300 290 12.0® K> 51 J i£7£h«0»M07 H 0.5 49 3.5 2.52,761 words
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Article305 2000-09-23 19 AFP □Compositelndex -42.74 SOUTH Korean shares feU 7.2 per cent yesterday. The index fell 42.74 points to 553.25. Volume was 303.1 million shares worth two trillion won.—AFP »a *t• Anam Semi 6300 -TOO Brain Tech "*5 Central Ban* *40 uncti CheMComm ***** 3BOO Da* Gu Bank NTO urvcti D—vtqAFP - 305 words
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Article269 2000-09-23 19 AFP Q Composite Index -2.08 PHILIPPINE share prices closed 0.1 per cent lower yesterday with the Composite Index down 2.08 points to 1,420.61. Volume rose to 465.27 million shares worth 469.05 million pesos from 413.73 million shares worth 704.66 million pesos on Thursday. —AFP Wp22 Pes* (000) MRCAMod 0.36AFP - 269 words
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Article268 2000-09-23 19 AFP Reuters QNZSE-40 -3734 NEW Zealand shares fell 1.8 per cent yesterday to close below 2,000 points for the first time since May after Intel issued a profit warning, dealers said. The NZSE-40 Capital Index was down 37.54 at 1,974.64 on turnover of NZ$9B.2 million. —AFP, Reuters 5*22 BSAFP; Reuters - 268 words
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Article548 2000-09-23 19 AFP QAn Ordinaries -6L4 AUSTRALIAN shares slumped 1.9 per cent yesterday as thin trading due to the Olympic Games combined with oil price fears to depress market sentiment, brokers said. The All Ordinaries index fell 61.4 points to 3,143.5 points while the SP/ASX 200 index dropped 64.2 points, orAFP - 548 words
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Article, Illustration750 2000-09-23 19 Bloomberg □set Into -BJ9 THAILAND'S key SET stock index posted its biggest percentage drop in two months yesterday, as Hana Microelectronics plunged after Intel Corp, the world's No 1 chipmaker, warned of slowing sales growth. The SET Composite Index fell 8.99 points, or 3.2 per cent, to 274.14, theBloomberg - 750 words
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Article, Illustration681 2000-09-23 19 AFP CI Composite Index -10.76 INDONESIAN share prices closed 2.6 per cent lower yesterday, led by profit-taking in blue chips on fears of riots in connection with next week's trial of former president Suharto, dealers said. The Composite Index closed down 10.76 points at 406.92 on a volume ofAFP - 681 words
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Page 19 Advertisements
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Article6728 2000-09-23 20 SGX MAXMBOARD Transaction date:Sep 22 Cr Or M Wt 52 Wk Last Vol Day Last Ouota Dtv Ot» YM Hat Cag A.* Htgh Law Company Sato COOP) Htqft Lew Buyof Setter CV p r $mtt Prtce MULTHNOUSTVY 163 77.5 m c AcmaSOc 78.5 -5 360 83 77.5 776,728 words
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Page 20 Advertisements
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Advertisement14 2000-09-23 20 ff? [cats. Useful Things Just imagine life without them. Buy >. sj n. f*i >. j14 words
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Page 21 Advertisements
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Advertisement334 2000-09-23 21 Where to wine, dine and entertain..rt fiSESSr rnmsimtSs "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 #16.90 (Adult) 40°/o discount (Child) "Tunch Karaoke" from 12 noon Bpm #22.90* (Adult) 40°/o discount*334 words
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Advertisement63 2000-09-23 21 I A Taste Of Tuscany ITALIAN FOOD WINE PROMOTION 14 24 September 2000 **tfc Rni I Enjoy Italian dining IHb at its gourmet best by Chef Gianni Malagoli |H of Genoa at Top of the *M* Revolving Bfa Restaurant. Reservations: 831 6288 58 «H Popular demand! I .ftwbitflsywr affic 31363 words
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Page 21 Miscellaneous
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Miscellaneous887 2000-09-23 21 i n i 7 ma 12.00 MN TV Innovations. Games. L entr l i.30 Movies, Games Vi- L3O AM Close. 7.00 Olympics: Diving r- I iJk 8.00 AM Kids Central: The deos. Women's Finals, Men's <wj| Hf Big Bug Show. 2.00 Cybernet. fh«ni»«l NiriAili Finals (L). M B 3o Little887 words
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Miscellaneous300 2000-09-23 21 CRYPTIC CROSSWORD ACROSS more? (8) 5 Equality I found political onjanis- 6 Proper entitlement (5) ation (6) 7 Carefully examine business tak--8 No players available for Robin- '"Q 8 8 son Crusoe? (8) 12 001,6 unknown and wary (3) 9 Handles pieces of fish (7) 15 Drunken cry of support300 words
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EXECUTIVE Lifestyle
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Article, Illustration829 2000-09-23 22 CHEAH UI-HOON, PARYATHI NAYAR - This year's Young Artist Award honours both traditionalists and modernists in the fields of art, literature, dance and music. The recipients tell CHEAH Ul-HOON how they will use the 10,000 grant that comes with the award while PARYATHINAYAR finds out from this year's Cultural Medallion winner TanSIEW YAW HOONG - 829 words
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795 2000-09-23 22 For Tan Siah Kwee, the artform is a process of learning about culture and the qualities of a gentleman MASTER calligrapher Tan Siah Kwee, the 2000 Cultural Medallion recipient, is reading a verse with concentration. He's surrounded by an expectant if motley crowd795 words
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THE ARTS
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Article, Illustration680 2000-09-23 23 CHEAH UI-HOOH - Art Singapore promises the highest standards of professionalism in providing genuine art. CHEAH UI-HOOh reports CHEAH UI-HOOH PORGERIES and fakes. Name practically any type of market and it faces the pervasive problem. Fashion, VCDs, computer software; the list includes fine art, which ironically attests to its680 words
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495 2000-09-23 23 CHEAH UI-HOOH - Amex, STB as well as BT are helping Art Singapore 2000 to reach a wide audience By\ CHEAH UI-HOOH SUCH a large undertaking as the Art Singapore 2000 art fair would not have been possible without sponsors. "Because the fair is new, and exciting,495 words
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Article, Illustration1114 2000-09-23 24 GEOFFREY EU - < Hit- oi tin* w»rM\ pn-inji-r tin\ni♦ Tiffin UiillH. ItiKii.n\ il- liM r \mi in Niriapon' n»\\i *«*K Geoffrey eu r jpoM GEOFFREY EU BUDDING ballerinas, soft-shoe shufflers and rhythm-deprived neophytes who dream of tripping the light fantastic are all in for a rare treat1,114 words
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Article, Illustration681 2000-09-23 24 Susan Tsang - Sculpture Square showcases the works of Malaysian artist Yeoh Jin Lengas part of its first anniversary celebrations By Susan Tsang YEOH Jin Leng's art may be simple to the viewer, but behind the accessible pieces is a depth of research and thought. And although the 71-year-old Malaysian681 words
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Article825 2000-09-23 23 M Yasotha - Compiled by M Yasotha MUSIC Singapore Symphony Orchestra Two Pianos at the SSO The renowned London-based piano duo of Dennis Lee and Toh Chee Hung take centrestage in Mozart's ebullient Concerto for Two Pianos, one of the most loved and often-performed works in this medium. Lan Shui conducts.825 words
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Article, Illustration198 2000-09-23 23 Paervathi Nayar - By Paervathi Nayar The Buzz: Art events bringing together the region's artists, it would seem, are the flavour of the time, whether as auctions, flairs or more modest exhibitions. The plot and players: Two local galleries, Eagle's Eye and Eagle's Dream, are planning a new series of visual art198 words
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