The Business Times, 16 December 2000

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Microfilm: NL22040
Total Pages: 22
1 22 The Business Times
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  • Title Section
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    14 1 THE BUSINESS TIMES (proaB/t2/2000 85* SI NGAPORE Internet: http://business-times.asial .com.sg SATURDAY. DECEMBER 16. 2000
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  • Article
    Lock icon MARKET SUMMARY
    75 1 sn M4BJB (-32.36) BT-SBI 903.7! (-12.98) ST INDEX FOTDBES 1J4&00 (-51.00) smsci nrraiES 250.70 (-8.60) STOCK MARKET INDICES Friday Change KLSE COMP 799.44 1196 NIKKEI 226 li552J9 —-374.90 HANG SENG 14,975.58 -621.46 SET INDEX 278.17 41.88 JAKARTA COMP 423.68 +148 MANILA COMP —1,493.19 +4J2 TAIPEI WW 5,224.74 -96.42
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  • Article
    Lock icon FINANCE
    73 1 FOREX BATES uss s$ US$ 1-7*7 £(USS/S$ per£) 1.473 2559 EURO(US$/S$/E) 0.893 1552 DM 2.189 1.260 YEN 1114 84.7® RM 3.800 2.187 HK$ 7.800 4.490 BAHT 43.50 25.01 RUP1AH 9465 6,390 PRIME RATES SINGAPORE* 5.80 KUALA LUMPUR 7.67 JAKARTA .39.00 BANGKOK.. 9.50 MANILA 11.00 HONGKONG „8.50 TAIPEI 7.84 SYDNEY
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  • Article
    Lock icon Summit first to call it quits in broking shakeout
    502 1  -  Dealing staff to move to DMGy OCBC Sec and ÜBS Warburg headed for tie-np By Ling Su Ann, Serena Ng [SINGAPORE] The shakeout in the local stockbroking industry has begun barely three months after stockbroking commissions were liberalised. Faced with falling
    502 words
  • Article, Illustration
    Lock icon IMF holds back US$400m loan to Jakarta
    803 1  -  Fond unhappy with pace of country's economic reforms From l Shoeb Kagda in Jakarta THE International Monetary Fund has withheld a US$4OO million (***** million) loan payment to Jakarta, raising concerns of further erosion of market confidence in the government. The IMF decision,
    REUTERS  -  803 words
  • Article, Illustration
    Lock icon All decked out
    100 1 [SINGAPORE] A $200,000 Christmas decoration budget with tinsel balls and snowflakes thrown in has paid off for Parco Bugis Junction. The mall has come up tops in the shopping centre category in the Best Decorated Building Competition organised by the Singapore Tourism Board. Tanglin Mall, which won
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  • Article
    Lock icon Hong Leong, Far East neck and neck in new home sales
    790 1  -  Together they sold 40% of this year's 5,400 units From. Marissa Chew, Kalpana Rashiwala [SINGAPORE] Hong Leong Group and Far East Organization have again dominated new private home sales this year, together accounting for about two-fifths of the estimated
    790 words
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      Lock icon Page 1 Advertisements Column 1
      80 1 msmn BT Comment Obsolete fund mandates hurting the investor. Pg 9 New Asia Biz Woman Designer Leong Soo Mei on glass art. *91* Top Stories OECD urges S'pore to join anti-bribery protocol. NmxiPmg* Hang Seng down 3.3% in line with Wall Street fall. Pg 7 HK govt land tender produces
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      132 1 Having a ball 'U t V Page 4 ,v Savour again t'v \-n at the A Singapore Da nceThe3lre- B us n e s s T e > *9A pP J J Ba' ie t Ba 11 Back P.iqe m mmjt 9 ML/ 9|flßl. 1 Wjj? V Breguet. La passion
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  • NEXT page
    • Article
      Lock icon OECD urges S'pore to join anti-bribery protocol
      760 2  -  Accord seeks to fight corruption in cross border business deals From Vikram Khanna in Seoul The Organisation for Economic Cooperation and Development (OECD) wants Singapore to join its key anti-bribery protocol, which seeks to fight corruption in cross border business transactions. On the
      760 words
    • ON THE grapevine
      • Article
        Lock icon The folks up-country earn more
        129 2 FOR those inclined to complain, it's time to realise that, as always, things could be worse. Based on no less than 27 criteria covering areas like health and health-care, education, housing costs, traffic, crime and technology Singapore emerges as third (from fifth previously) in Asia
        129 words
      • Article
        Lock icon Art imitates life
        167 2 EVEN the world of make-believe has to make contact with reality some time. Two new TV shows in the US that have plots revolving around Wall Street events have been hit by falling audiences as rapidly as dotcom stocks have gone out of style this year, reports
        167 words
      • Article
        Lock icon Financial power game
        84 2 SOME folks just love to hate financial journalists. Consuela Circe, writing in the journal Investor Relations, says: "Machiavelli concentrated not on what ought to be done, but on what works. Regrettably, in the twisted brains of financial journalists, the two are often confused journalists are choking on
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    • Article
      Lock icon UMC picks S'pore to site US$3.6b wafer foundry
      538 2  -  It will be the world's most advanced 300 mm wafer plant Reports by David Boey [SINGAPORE] Taiwan's United Microelectronics Corporation (UMC), the world's second-largest maker of made-to-order computer chips, said yesterday it picked Pasir Ris Wafer Fab Park as the site for
      538 words
    • Article
      Lock icon EDB in talks with UMC on stake in wafer foundry
      369 2 If decision is taken to go ahead, it'll be a 'meaningful stake' [SINGAPORE] The Economic Development Board (EDB) will soon decide whether it will take a stake in a new US$3.6 billion (Ss6.l billion) wafer foundry which will be built
      369 words
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  • SINGAPORE companies
    • Article
      Lock icon UOB Asia enters no plea over eWos, Hua Kok share sales
      376 3 Bloomberg UNITED Overseas Bank Ltd's investment banking unit, charged with mishandling two share sales, yesterday entered no plea before a Singapore court, which then set a pretrial conference for Jan 3. The Commercial Affairs Department (CAD) alleges UOB Asia
      Bloomberg  -  376 words
    • Article, Illustration
      Lock icon Underground links for buildings near MRT stations?
      493 3  -  ÜBA says study on matter to be made public next year By Kalpana Rashiwala NEW building owners and those who plan to redevelop their commercial properties may soon have to factor in the substantial costs of an underground link if they are located
      Source:  -  493 words
    • Article
      Lock icon Obsolete fund mandates hurting the investor
      662 3  -  lock siew] wong wei kong WHEN the Singapore Regional Index (SRI) Fund moved recently to seek approval to change the benchmark index it will track, it highlighted one thing: fund mandates do go out of fashion too. It also posed the question: What should
      662 words
    • Article
      Lock icon SingTel, Vodafone lead chase for Optus assets
      444 3 Sing Tel has proposed that it become the major shareholder in Optus: report AFX-Asia, Bloomberg [SYDNEY] Singapore Telecom Ltd and the Vodafone Group have emerged as the front-runners in bidding for the assets of Cable Wireless Optus, a Sydney Morning Herald report said.
      AFX-Asia,; Bloomberg  -  444 words
    • Article, Illustration
      Lock icon SGX eyes end-2002 for straight-through processing
      387 3  -  GDP to develop infrastructure for clearing, settlement By\ Serena Ng THE Singapore Exchange yesterday gave a time-frame for the development of straight-through processing (STP) in the local market and said the market should be STP-ready by the end of 2002. SGX chief executive Tom
      RICHARD CHNG  -  387 words
    • COMPANY Briefs
      • Article
        Lock icon Novena IPO subscribed 6.5 times
        96 5 SESDAQ-BOUND furniture group Novena Holdings said yesterday the public tranche of its initial public offering was subscribed 6.5 times. As at the close of the IPO on Thursday, there were 451 successful applications for the 1.1 million public offer shares priced at 23.5 cents each.
        96 words
      • Article
        Lock icon Horizon.com to acquire 51% of Pex.Com
        44 5 HORIZON.COM will acquire 51 per cent of business-to-business electronic and mobile commerce software developer Pex.Com for $1.07 million. Pex.Com will be renamed HorizonPEX. The acquisition will be funded internally. Horizon will receive a licence to use Pex.Com's technology.
        44 words
      • Article
        Lock icon Craft Print net profit dives 93%
        81 5 CRAFT Print International's full-year net profit tumbled 93.4 per cent to $300,000 from $4.6 million, despite turnover rising 11.8 per cent to $27.3 million. Margins were eroded by keen competition, rising paper costs and foreign exchange loss. Earnings per share for the year to
        81 words
      • Article
        Lock icon FHTK narrows interim loss to $18.8m
        88 5 FRUIT and vegetable wholesaler FHTK Holdings narrowed its interim loss to $18.8 million from $26.2 million as turnover improved 32 per cent to $68.2 million. The loss per share was 2.85 cents, against 3.98 cents previously. Net tangible assets per share were 5.76 cents,
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      • Article
        Lock icon TPA placement shares fully placed out
        44 5 TPA Strategic Holdings said yesterday its 17.3 million placement shares have been fully placed out. There were 447 applicants for 12.975 million placement shares and 91 applicants for 4.325 million reserved shares. The shares start trading on Monday.
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    • Article
      Lock icon Kim Eng interim profit slumps 79% to $10m
      245 5 KIM Eng Holdings' interim earnings took a beating as volume on regional stock markets tumbled. Net profit slumped 79 per cent to $10 million for the six months to Sept 30, while revenue crashed from $142.6 million to $38.2 million due to
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    • Article, Illustration
      Lock icon MediaRing may lose 2nd-largest shareholder
      556 5  -  Chief of L&H, which owns 7.62%, is also co-chairman of troubled Belgian firm seeking conrt protection By Serena Ng INTERNET voice communications company MediaRing.com, which received a big blow last month when Hongkong Internet tycoon Richard Li quit its board of directors, is now in
      Source: Reuters; REUTERS  -  556 words
    • Article
      Lock icon Takeover rumours fuel rise in Poh Lian and PCI
      293 5 The two back the market trend as they head the actives list SHARES of construction company Poh Lian Holdings and electronics firm PCI bucked the trend by rising in a falling market yesterday, fuelled by takeover speculation. Poh Lian's stock surged
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      78 3 ALFRED DUNHILL AD 1000 and AD 2000 Carbon Fibre Pen y/ l l < c 1 > I'. H I f j r > J r <■ > -s- > J t;• t f f j, f? X «S f r i i i i i -v ;V vj W-:»
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  • SINGAPORE markets
    • Article
      Lock icon Untitled
      524 4 Slocks Volume PohLian 10c 31,763,000 PCI 25c 20,148,000 Asia Dekor HK15c 19,058,000 PacificCenturylOc 18,432,000 Chart Semiconductor 26c 12,502,000 MediaRinglOc 12,057,000 NatBroad25c 8,899,000 L&M50C 6,795,000 JSH US5c 500 6,136,000 VentureMfg25c 5,747,000 Stock* VentureMfg25c 81,213,500 Chart Semiconductor 26c 69,857,485 Datacraft 10c 33,082,815 JSH US5c 500 31,342,468 NatBcoad 25c 30,966,200 DBS Grp 28,863,845
      524 words
    • Article, Illustration
      Lock icon US profit warnings, weak Wall St result in sell-down
      536 4  -  :i I comment STOCKS r.sivanithy NOW the US presidency has been decided, there appears to be little else to look forward to in the way of market-moving developments. As such, investors seem to have turned back to tracking movements on Wall
      536 words
    • Article, Illustration
      Lock icon DB's CityDev covered call: overpriced even at 4 cents
      197 4  -  WARRANT WATCH By R Sivanithy THE covered warrant sector is floundering. Making matters worse is the fact many instruments are close to expiry, so time decay has set in. And worse still, the numbers for longer-dated warrants are not at all
      197 words
    • Article, Illustration
      Lock icon NOL could rally on re-rating
      250 4  -  HOT STOCK By\ Serena Ng THE stock of Neptune Orient Lines could be re-rated soon and a rally may be in store. The counter closed a cent down at $1.43 yesterday on volume of about two million. It has been trading between $1.40 and $1.60
      250 words
    • Article
      Lock icon Market Notices
      159 4 NAM Lee Pressed Metal Industries will go ex-dividend (first and final dividend of 0.50 cent) on March 7. Last day for buying-in on a cum basis is March 12. Date payable is March 22. ♦LIAN Beng Group will go ex-dividend (final dividend of 0.10 cent) on Dec 29.
      159 words
    • Article, Illustration
      Lock icon Euro pushes above 100 yen, close to 90 US cents
      356 4  -  -i i comment CURRENCIES larry wee MORE Wall Street profit warnings kept the US dollar under pressure yesterday, with the euro once again the leading beneficiary, but most others gaining more modestly. Players said that US stocks, were again hurt
      Source: Reuters  -  356 words
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      86 4 f A Christmas Less Ordinary delight pur jriends with something witty this year The Business Times is glad to lend a hand in your quest for originality. Readers who troop into Blue Canopy today with a copy of this ad will get a 20% discount off any items from these
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      46 4 Grow Your CPF With eiBht Important AM applications for units in eight must be 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 well as rise S3' M»SBAf K
      46 words
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  • Article
    Lock icon BT SHARE information service
    4863 5 (tot tarn CPS LN Metal Sep 29 I 2.190 1284 0.80 1.40 Dati TY LY TV LY LMT Hldgs Sap 19 I 0.777 1.188 0.39 0.79 Camanv ann (Sm) (Sm) <cts> (cts) L-Jacoberg Sap 12 I 14.582 12.386 8.60 7.40 522=3 3 1 LiangHuat Sap 27
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  • SINGAPORE news
    • Article, Illustration
      Lock icon Sharp fall in Oct retail sales growth
      334 6  -  on the economy retail sales By. Anna Teo A GRADUAL tapering off of recent robust retail sales had been forecast, but October's retail performance has turned out worse than expected. Figures released yesterday by the Department of Statistics (DOS) show a sharp falloff
      Source: DOS  -  334 words
    • Article, Illustration
      Lock icon S'pore Internet users lead region in survey
      454 6  -  Republic tops in Net penetration, visits to e-commerce domains: Net Value By\ Candida Ng SINGAPORE leads the region in Internet penetration at 47.5 per cent, with just over half of its users having been connected to the Net for more than two years,
      Source: Net Value  -  454 words
    • Article
      Lock icon New law next year for buildable design
      440 6  -  Legislation is expected to help improve quality and halve labour requirements By Kelvin Ng ALL building projects with a gross floor area of 5,000 sq m or more will have to adopt more construction-friendly features from next year. Landed and non-landed residential, commercial,
      440 words
    • Article, Illustration
      Lock icon SCV broadband subscribers hit 33,000
      247 6 SINGAPORE Cable Vision is catching up fast with Singapore Telecom in the number of broadband subscribers barely one year after it launched its service. SCV announced yesterday that it has 33,000 Max Online subscribers, just 2,000 short of SingTel's broadband subscriber base. The healthy subscriber
      247 words
    • Article
      Lock icon FTA talks with US: wrap up won't be soon
      420 6  -  It was originally hoped the discussions would be completed by year's end By\ Eugene Low TALKS between Singapore and the US on a free trade agreement (FTA) are unlikely to be wrapped up by year-end as originally hoped, says ambassa-dor-at-large Tommy
      420 words
    • Article
      Lock icon Role of CDCs to be expanded next year
      317 6 THE role of Community Development Councils (CDCs) will be expanded next year, with all nine taking charge of child care-related services. Deputy Prime Minister Lee Hsien Loong said yesterday the government has decided to delegate areas such as child care-related services, including
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    • NEWS Roundup
      • Article
        Lock icon S'pore-Kiwi FTA effective on Jan 1
        79 6 THE free trade agreement signed by Singapore and New Zealand on Nov 14 will take effect on Jan 1,2001. New Zealand Trade Negotiations Minister Jim Sutton and Singapore High Commissioner Tan Keng Jin yesterday exchanged diplomatic notes confirming each country had completed the necessary
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      • Article
        Lock icon Newman & Goh appoints two managers
        59 6 Newman Goh appoints two managers NEWMAN Goh Property Consultants has appointed Carolyn Choo manager for business development. Her task is to identify, negotiate and secure business in the property management, agency and valuation sectors. The firm has also appointed Sim Kai Li as property manager. She is in charge of
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      • Article
        Lock icon Shanghai link home for Singaporeans
        65 6 A SINGAPORE information and resource centre has been set up at the Singapore Consulate-General in Shanghai to serve as a link home for Singaporeans in the city and other parts of China. The Contact Singapore centre also welcomes Chinese inquiries on education and employment opportunities.
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      30 6 rnrmn m Lianhe Zaobao I Sj3ore| jSE *mr mm I I Oil I ojrl BUSINESS SERVICES/ PRODUCTS The Straits Times Classified |CAT AI Classifications 201 266. k h Fmd k
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  • REGIONAL news
    • Article, Illustration
      Lock icon Court hands Thai Petrochem Industry to creditors
      560 7  -  Bankruptcy Court's decision ends founder's fight to retain control From] Harish Mehta in Bangkok THAILAND'S Bankruptcy Court yesterday ended billionaire Prachai Leophairatana's three-year battle to retain control of his bankrupt Thai Petrochemical Industry (TPI) by turning it over to its creditors, sending a
      560 words
    • Article
      Lock icon Hang Seng down 3.3% in line with Wall St fall
      486 7  -  Analysts expect the index to end the year below 15,000 points From Audrey Tan in Hongkong STOCKS in Hongkong took a tumble yesterday as investors took flight after Thursday's fall in Wall Street, and analysts now say that a rally
      486 words
    • Article
      Lock icon Further delay in return of SIA pilots
      332 7 TAIPEI AP THE Singapore Airlines pilots involved in the Oct 31 crash may be detained longer in Taiwan, a Taiwanese prosecutor said yesterday. The release of three pilots, who were expected to be freed yesterday, might be delayed because additional paperwork was needed
      AP  -  332 words
    • Article, Illustration
      Lock icon Supreme Court orders opening of bank records
      560 7 ESTRADA IMPEACHMENT They include a copy of a cheque for 142 m pesos allegedly issued by Estrada Reuters [MANILA] Philippine President Joseph Estrada, on trial for corruption, suffered a setback yesterday when the Supreme Court Chief Justice ordered the unsealing of bank records
      Reuters; AP  -  560 words
    • Article
      Lock icon Siam Cement's export dependence mirrors Thai economy
      506 7 ■BANGKOK Bloomberg SIAM City Cement, Thailand's No 2 cement maker, sells half the cement it makes overseas at cut-rate prices just to keep its factories running. "We'd better export, even though we make a small profit margin," said Paul Heinz Hugentobler, president of
      Bloomberg  -  506 words
    • NOTE Book
      • Article
        Lock icon Malaysia's Oct manufacturing up
        76 7 AP [KUALA LUMPUR] Malaysia's manufacturing sales rose 26.5 per cent in October to RM29.6 billion (5513.5 billion) from the same month in 1999, but were down 4.8 per cent from September, the government's statistics agency said yesterday. It said that total wages paid during the month
        AP  -  76 words
      • Article
        Lock icon Sime Darby, Tesco in hypermart pact
        86 7 AP [KUALA LUMPUR] Malaysian conglomerate Sime Darby Bhd and Britain-based Tesco pis agreed yesterday to set up a joint venture company to establish a chain of hypermarkets in Malaysia. "It is currently planned that Tesco Stores Malaysia will invest about RMI.2 billion (Sss4B million)
        AP  -  86 words
      • Article
        Lock icon Manila deficit bloats to 114.4b pesos
        104 7 Reuters [MANILA] The Philippines' budget deficit for the 11 months to November rose to 114.4 billion pesos (553.96 billion). In the 10 months to October, the deficit stood at 95.55 billion pesos. The original full-year budget deficit target had been 62.5 billion pesos, but
        Reuters  -  104 words
      • Article
        Lock icon Slow start for Jakarta futures bourse
        91 7 AFP AP [JAKARTA] Indonesia's first organised commodities futures market, the Jakarta Futures Exchange (JFX), opened here yesterday but activity was slow with only a handful of brokers having the necessary licences and only few customers interested in trading. The exchange has begun trading in
        AFP; AP  -  91 words
      • Article
        Lock icon Donors pledge US$2.4b Vietnam aid
        70 7 Reuters [HANOI] International donors indicated they would provide around US$2.4 billion (554.2 billion) in support of Vietnam's poverty reduction and development agenda at a meeting yesterday, a statement said. The statement, issued after a two-day meeting of the Consultative Group of international organisations and donor
        Reuters  -  70 words
      • Article
        Lock icon Thaksin holds lead in poll
        106 7 Reuters [BANGKOK] Thai telecoms tycoon Thaksin Shinawatra remained well in front in the latest opinion poll released yesterday ahead of a Jan 6 general election, despite a probe into his assets by the country's anti-graft agency. The poll, conducted by Bangkok University on Dec 9-11,
        Reuters  -  106 words
    • Article
      Lock icon Hongkong govt land tender disappoints with low prices
      358 8  -  Henderson joint venture beats eight others with HKs2.43b bid From 1 Quak Hiang Whai in Hongkong THE Hongkong government's latest land tender failed to provide the badly needed boost to the sluggish property market as tycoon Lee Shaukee emerged the winner with
      358 words
    • Article, Illustration
      Lock icon Trooping in from history
      96 8 [T AIPEI] The silhouette of a woman seems printed on a view of China's Xi 'an Terra Cotta Museum as she goes through the exhibition titled 'Terra Cotta Warriors and Horses ofQin Shi Huang, The First Emperor'at Taiwan's National Museum of History on Thursday. The terra
      AP  -  96 words
    • Article
      Lock icon Taiwan to ease flow of funds to China
      293 8 U TAIPEI AFP TAIWAN is set to relax controls on China-bound investments, allowing some previously banned hi-tech and petrochemical projects and those worth over US$5O million (5586.9 million) each, officials said yesterday. A consensus had been reached among government officials to allow
      AFP  -  293 words
    • Article
      Lock icon HK to start US$ cheque clearing
      274 8 HONGKONG Firms will find it easier to do deals in US$ from Monday Bloomberg HONGKONG will allow local clearing of US dollar cheques from Monday, the third and final phase of a clearing system making it easier for individuals and companies to use US
      Bloomberg  -  274 words
    • Article, Illustration
      Lock icon Premature to party ewer US poll result
      1353 8  -  WRITER'S JOURNAL Bush will use foreign policy as an escape valve and a means of avoiding intractable problems at home karim raslan A 1 L Gore's defeat in the American presidential contest will please many people in Kuala Lumpur. While I am not
      1,353 words
    • Article
      Lock icon GM in US$230m venture to make trucks in China
      374 8 SHENYANG, China Bloomberg GENERAL Motors Corp, the biggest foreign investor in China's auto industry, resumed production of light trucks in the country's northeast, five years after it halted output because of poor sales and disputes with local partners. The new US$23O
      Bloomberg  -  374 words
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  • WORLD news
    • Article
      Lock icon Fed unlikely to cut rates at Tuesday's meeting
      656 9 WASHINGTON Officials see risk of serious weakness in economy as being as great as risk of worsening inflation: report Reuters FACED with slowing economic growth and an uncertain short-term economic outlook, a number of Federal Reserve officials have concluded that the risk
      Reuters  -  656 words
    • Article
      Lock icon Japan to drag down Asia-Pac growth: EIU
      417 9  -  It expects Asia-Pac growth to dip to 3J>% in 2001; Malaysia and Singapore among top 20 fastest growing countries From'. Neil Behrmann in London JAPAN'S economy, though expected to be stronger next year, will drag down Asia-Pacif-ic growth, forecasts the Economist Intelligence Group
      417 words
    • Article, Illustration
      Lock icon Bush may begin naming Cabinet today
      686 9 Democrats snch as John Breaux expected to be among the ranks AP, LATWP [AUSTIN, Texas] President-elect George W Bush is ready to begin naming top officials of his administration as early as today and aides say there will be Democrats among the ranks. By
      AP,; LATWP; AFP  -  686 words
    • Article
      Lock icon US consumer prices rise 0.2% in November
      331 9 WASHINGTON CONSUMER inflation edged\ up 0.2 in November as tamer energy costs and cheaper clothing prices helped to blunt the biggest jump in tobacco costs in seven months. Industrial output fell for the second month in a row. The Labor Department reported yesterday
      331 words
    • Article
      Lock icon Virgin Atlantic orders 6 Airbus superjumbos
      500 9 LONDON US£Utt> deal gives Airbus the target it needs to lannch production of A3XX Reuters VIRGIN Atlantic Airways on Wednesday said it had ordered six Airbus A3XX jets, giving the European planemaker the 50 orders it has targeted to justify formally launching the superjumbo
      Reuters  -  500 words
    • Article, Illustration
      Lock icon GE most respected in FT survey again
      316 9 LONDON Oana-Kyodo GENERAL Electric Co of the United States topped the list of the world's most respected companies for the third consecutive year in 2000, according to a survey released today by the Financial Times (FT). FT praised GE chairman Jack Welch as
      Oana-Kyodo; REUTERS  -  316 words
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  • MOTORING
    • Article, Illustration
      Lock icon Soft top, hard shoulder
      1003 10  -  Has Volvo gone soft in the head with the C7O Convertible? CHRISTOPHER TAN investigates and finds a sexy and safe cabrio CHRISTOPHER TAN IHH HE problem with WM popular perception is that it tends to become too popular for its own good. Take Volvo for instance.
      CHRIS TAN  -  1,003 words
    • Article, Illustration
      Lock icon Formula One recipe for success
      341 10  -  Alessandro Nannini cafe chain doing Asian circuit with EL outlet opening by March By Christopher Tan ALESSANDRO Nannini, the Italian eatery set up by a former Formula One ace of the same name, is set to expand in Asia. After two outlets in three years
      341 words
    • Article
      Lock icon Polished Passat
      894 10  -  At a press launch on the Mediterranean island of Sardinia, ADRIAN LOW is almost blinded by the shine of a rejuvenated Vee-dub ADRIAN LOW The writer is a freelance motoring journalist CHROME. If there's a word that sums up the 2001 Volkswagen Passat, chrome would be it. Much
      894 words
    • BUMPER to bumper
      • Article
        Lock icon BMW comes with Internet
        74 11 THE new BMW 7-series due next year will be Internet-equipped. In co-operation with Mannesmann Tele Commerce, BMW will incorporate the facility so occupants can have permanent access to e-mail, SMS (short message service), maps and hotels, event programmes and information about theatres and cinemas at a
        74 words
      • Article, Illustration
        Lock icon Booking opens for Citroen's C5
        95 11 CITROEN's all-new C 5, which succeeds the mid-range Xantia, is now open for booking. Available as a 1.8-litre, 2.0-litre and 3.0-litre V 6, prices start from $126,000 with COE. The new car is significantly more luxurious than the Xantia and offers several new standard features
        95 words
      • Article
        Lock icon BMW3-series drives Italian police
        67 11 THE Italian police force has ordered 1,300 BMW 3-series cars, to be delivered over the next few years. The purchase BMW's single largest order for police vehicles comes after the Italian law enforcers acquired 365 Beemer motorbikes last year. Other police departments that have bought BMWs
        67 words
      • Article
        Lock icon Porsche sees sales topping 50,000
        54 11 GERMAN sports car maker Porsche expects unit sales in its 2000/2001 business year to exceed 50,000, lifting turnover above the previous year's 7.13 billion marks (555.7 billion), Reuters reports. Porsche sold 48,797 cars in the 12 months to July 31, a 10.9 per cent rise
        54 words
      • Article
        Lock icon Mazda's cautious outlook
        141 11 MAZDA Motor's plan to return to profitability assumes Japan's economy and overall vehicle sales will remain largely stagnant, Reuters quotes president Mark Fields as saying. "I think our outlook is very cautious," he said, noting the risk of a slowdown in the export markets of the US
        141 words
      • Article
        Lock icon Ford may tap rival dealerships
        104 11  -  Compiled by Christopher Tan FORD is in talks to sell its vehicles through Toyota Motor and other rival dealerships in Japan, AFP has quoted an executive as saying. Ford Japan president Eiji Iwakuni recently discussed the proposition with Toyota executive vice-president Kosuke Yamamoto, said Ford
        104 words
    • Article, Illustration
      Lock icon You wanna UPSIZE?
      1023 11  -  CHRISTOPHER TAN checks out the Mercedes V-class and VW Caravelle the two largest private passenger vehicles available here CHRISTOPHER TAN LET'S not muck around. Most multi-purpose vehicles (MPVs) are fine if you're ferrying the kids to soccer practice or taking the extended family to Punggol for seafood.
      PHOTOS By CHRIS LOH  -  1,023 words
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      293 11 There is no wheel matters this week, but bt motoring welcomes feedback, suggestions and other forms of correspondence from readers. wheel matters is also an advice column, with technical queries being answered by experts at the automobile association of Singapore and policy questions tackled by the land transport authority. You
      293 words
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  • e-NEWS
    • Article
      Lock icon FTC nod for AOL and Time Warner merger
      670 12 WASHINGTON Deal will lead to creation of the world's biggest media business NYT AP THE Federal Trade Commission approved the proposed merger of America Online and Time Warner on Thursday, clearing the way for the creation of the world's biggest media business.
      NYT; AP  -  670 words
    • Article, Illustration
      Lock icon The new world media
      298 12 AOL Time Warner Source: AP/Company reports 1999 America Online: Already the largest US Internet service provider with 26 million subscribers, AOL will become a division within the combined company that win seek new ways to offer programming from TimeWarner's media stable to online customers. Time Warner
      Source: AP/Company reports 1999  -  298 words
    • Article
      Lock icon Microsoft trims earnings forecasts by 5-6%
      597 12 SEATTLE The world's largest software company cites, slowdown in sales to consumers and businesses Reuters IN an unprecedented earnings warning by the world's largest software company, Microsoft Corp on Thursday said that its quarterly and yearly profits would fall short of forecasts by 5
      Reuters  -  597 words
    • Article
      Lock icon Citic mum over rumours it may poach top CyberWorks exec
      237 12 HONGKONG Bloomberg CITIC Pacific Ltd, a China-backed Hongkong investment company, is tight-lipped about talk that it might poach a top executive from Pacific Century CyberWorks Ltd, Asia's sec-ond-largest Internet investor. "We don't confirm nor deny anything at this moment," said
      Bloomberg  -  237 words
    • Article
      Lock icon Oracle earnings better than expected
      406 12 SAN FRANCISCO Outcome attributed to good sales of applications product NYT THE Oracle Corp announced earnings on Thursday that modestly exceeded expectations. Company officials said that barring a broad recession, they did not anticipate hitting the kind of obstacles that led to disappointing returns for
      NYT  -  406 words
    • Article, Illustration
      Lock icon Panel gives NTT 2 years to open up or face breakup
      326 12 TOKYO NYT THE Nippon Telegraph and Telephone Corp, the former domestic telecommunications monopoly, should be broken up if it fails to promote greater competition within the Japanese market, a government advisory board said on Thursday. The advisory board, appointed
      NYT; AP  -  326 words
    • Article
      Lock icon Tom.com may tumble to HK$1 a share, says ING
      362 12  -  From Audrey Tan in Hongkong REMEMBER the frenzy in March when thousands of Hongkongers scuffled on the streets for a piece of Li Ka-shing's Internet offering, Tom.com? Well, those shares which opened on the bourse at HK$B against an issue price
      362 words
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  • FINANCE & commodities
    • Article
      Lock icon Futures dip on fear of Wall St losses
      288 13  -  SGX Derivatives ST Xnde*/MSGI STpore Index Lau Chee Keong Refco Singapore A POOR outlook in the technology sector sent the Singapore stock market to a lower close yesterday. The continued weakness in the US markets kept local investors on the sidelines as
      288 words
    • Article
      Lock icon US markets drive futures lower
      230 13  -  MSCI Taiwan Index Lau Chee Keong Refco Singapore THE MSCI Taiwan stock market slumped again yesterday, hit by a drop in the US markets overnight and a profitwarning from software giant Microsoft. The MSCI Taiwan index finished down 4.9 points or 1.98 per cent to
      230 words
    • Article
      Lock icon World oil prices continue to fall
      165 13 ENERGY REPORT Reuters [LONDON] World oil prices ticked lower again yesterday, leaving dealers to wonder how much further crude's headlong slide might go before the Organisation of the Petroleum Exporting Countries (Opec) steps in to arrest the slump. London Brent futures slipped three cents
      Reuters  -  165 words
    • Article
      Lock icon CURRENCY REPORT
      316 13 Reuters London The euro was the currency of choice yesterday as escalating concern about Japan's economy pushed it to fourmonth highs above 101 yen and gloom about US stocks and growth propelled it to a three-month peak of US$O.9O. Even a weak reading in Germany's key Ifo survey
      Reuters  -  316 words
    • Article, Illustration
      Lock icon Untitled
      1190 13 IHTKKB4IW RITES W tw Ftr Pi m$ tadhtaptafc Yw won RM N2$P«fcft Ptso S$ Rand Sfr KT$ Baht Poand US$ 0J2# *52 0M1 4009 1,195 4259 25.526 ***** 0.614 6.592 2.075 1.277 31.805 27.341 0.949 4.206 0 922 18.056 23.724 0J71 0.546 °«2 iSi 5145 61,783 0,741 7.965 2.507 1.542
      1,190 words
    • Article
      Lock icon Untitled
      1905 13 SICOM FUTURES Dec 15 RUB8ER (futures closing as at 5.30pm) RSS1 CONTRACTS cents/kg) Close Volume Open Month High Low Sett (towns) Interest Jan 01 105.75 Feb 01 »7.25 50 Mar 01 109.50 1300 Apr/Jun 01 112.25 RSS 3 CONTRACT (US cents/kg) Volume Open Month Hiqh low Sett (towies) Interest Jan
      1,905 words
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  • STOCKS east asia
    • Article, Illustration
      Lock icon Finance stocks pull Hang Seng Index down
      2868 14 HONGKONG AFP nmngSeag -52L46 HONGKONG share prices closed 3.4 per cent lower yesterday, led by finance stocks on concerns about a US economic slowdown after leading banks there issued earnings warnings, dealers said. The Hang Seng Index lost 521.46 points to close at
      AFP  -  2,868 words
    • Article
      Lock icon Weak Wall St drags Nikkei down
      2067 14 TOKYO AFP Nikkei 22S -374J0 SHARE prices in Tokyo slumped 2.5 per cent yesterday, weighed down by falls on Wall Street and the reported collapse of two Korean credit cooperatives in Japan, dealers said. The Tokyo Stock Exchange's Nikkei--225 index fell 374.90 points to
      AFP  -  2,067 words
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      Lock icon CHINA
      1064 14 Reuters O Shenzhen B Index -0.68 Imm. CHINA hard currency B shares closed a touch lower in listless trade yesterday with the approach of the year end sidelining most investors, brokers said. The Shenzhen B share index ended down 0.57 per cent or 0.68 points at 120.45 on slim
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  1,064 words
    • Article
      Lock icon TAIPEI
      378 14 AFP OWP Index -95.42 Wksm TAIWAN share prices closed 1.8 per cent lower yesterday following falls on Wall Street, dealers said. The Taiwan Stock Exchange Weighted Price Index dropped 95.42 points to 5,224.74 after a 1.2-per cent decline in the previous session. Turnover was NT531.16 billion against NT536.28 billion
      AFP  -  378 words
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  • STOCKS klse
    • Article, Illustration
      Lock icon Stocks slide on political, economic concerns
      441 15 AFP P Composite Index -HQS MALAYSIAN shares closed 1.7 per cent lower yesterday with sentiment weakened by political and economic concerns, dealers said. The Kuala Lumpur Stock Exchange Composite Index ended down 12.06 points at 700.44. The Second Board index feU 2.96 points to
      AFP  -  441 words
    • Article
      Lock icon Untitled
      9353 15 INDUSTRIALS Cohsmmt prafects 2000 Last Vol Day Nat Cap High Law Company Sato 'OOP High Low P/C $wW 420 310 Ajinomoto 310 unch 4 314 310 17.0 125.6 158 44 Angkasa 44 unch 6 44 44 64.9 670 290 Apollo Food Hlg 360 7.8 144.0 630 330 Asia File 362
      9,353 words
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  • SGX clob & regional stocks
    • Article
      Lock icon Untitled
      2898 16 BONDS WARRANTS Dec 15 W» Vratt M Ii+y Lart on UsNmK kn C«r> Eur DKc Mtln L*" C«P»» We ««r- COOO) Wfk lea layer Safer Price (■arts) late Prtct (*> Gearia«2 Uft 51.5 3 s Acma W*****4 3 -0.5 2 3 3 3 5 4 41.0 1 300 286 26.17
      2,898 words
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      Lock icon SEOUL
      312 16 AFP P Composite Index -IX3B SOUTH Korean shares fell 2.4 per cent yesterday with the index down 13.38 points at 534.00. Volume was 295.8 million worth 1.7 trillion won. AFP Dec IS Won Arum Semi 4200 -55 Brain Tech 520 -15 Central Bank 170 unch CheilComm ***** 600 Da*
      AFP  -  312 words
    • Article
      Lock icon MANILA
      289 16 AFP f I Composite Index +4L52 PHILIPPINE share prices closed 0.3 per cent higher yesterday with the Composite Index up 4.52 points to end at 1,403 39 Turnover remained thin at 176.2 million shares worth 393 million pesos from 150.5 million shares worth 570 million pesos a day earlier.
      AFP  -  289 words
    • Article
      Lock icon WELLINGTON
      251 16 AFP njmsE-40 -1019 NEW Zealand shares fell 0.5 per cent yesterday following weak performances in offshore markets and by market leader Telecom Corp. The NZSE-40 Capital Index ended down 10.19 points at 1,948.41 on modest turnover of NZ$B2.7 million. 0*clS MS (000) Advantage HDS 1.26 -0.06 131 AirNZA 1.59
      AFP  -  251 words
    • Article
      Lock icon SYDNEY
      554 16 AFP AD Ordinaries -45J AUSTRALIAN share prices dropped 1.4 per cent yesterday with investors spooked by earnings downgrades overnight by two major US banks and the implications for the broader economy, brokers said. The All Ordinaries index fell 45.0 points to 3,178.1 while the SP/ASX 200 index dived 47.8
      AFP  -  554 words
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      Lock icon BANGKOK
      725 16 AFP SET Index +LBB THE Thai stock market closed 0.7 per cent higher yesterday, with sentiment buoyed by court approval for the restructuring of Thai Petrochemical Industry, dealers said. The Stock Exchange of Thailand (SET) Composite Index rose 1.88 points to 273.17. The SET 50 index was up 0.16
      AFP  -  725 words
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      Lock icon JAKARTA
      724 16 AFP PI Composite Index +4.48 INDONESIAN share prices closed one per cent higher yesterday following significant gains in cigarette stocks despite weak overall sentiment, dealers said. The Composite Index closed up 4.48 points at 423.68 off a low of 417.0, on 419 million shares valued at 387.53 billion rupiah.
      AFP  -  724 words
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  • Article
    Lock icon STOCKS sgx
    9346 17 SGS MAIMBOARP Transaction date: Dec 15 Of Qf Li. f 2 t* lt Vol Day Last Quote Div Dlv YM Nat Cap Avq Hkjh Low Company Sale COOP) High Low Buyaf Salter H C'vr H p/E $mM Price MULTI-INDUSTRY 12.5 "5 y- 5 unch 6 78 5 78
    9,346 words
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  • New Asia Biz Woman
    • Article, Illustration
      Lock icon Glass Art
      998 18  -  Fancy designer glasses, platters anyone? (Mf>H ui-hoon talks to glass designer Leong Soo Mei, who creates tableware for award-winning chefs and top hotels with her partner. They've just opened a retail shop CHEAH UI-HOON IT seems like what can be considered as art nowadays is the price tag
      CHRIS LOH  -  998 words
    • Article, Illustration
      Lock icon SPOTLIGHT
      169 18 The BUZZ! AN impressionistic, idyllic view of Singapore through the eyes of a "Nanyang" painter The Plot and Players: Former member of Parliament and senior parliamentary secretary Ho Kah Leong, presently principal of Nanyang Academy of Fine Arts (NAFA), is holding his second solo exhibition of 62 acrylic and
      169 words
    • Article
      Lock icon MUSIC
      94 18 River Drums 2000 A celebration ofpercussion music from East to West specially choreographed and blended into one united rhythm, featuring cultural and contemporary percussion music. Dec 16-17, 7:3opm and 9pm, Clarke Quay River Jetty. Voodoo Shack, Riverhouse Courtyard and Read Bridge. Jazzcraze H2O Zone Jazz performances by the Singapore
      94 words
    • Article
      Lock icon EXHIBITIONS
      330 18 Idyllic Nanyang An exhibition featuring 62 pieces of location paintings done by artist Ho Kah Leong. ♦Dec 10-24, llam-7pm on Mon-Satand llam-spm on Sundays, Soobin Art Qpllery, 140 Hill Street, MIT A Building Of Land and Tradition A display of oil and silk paintings by Vietnamese artists Phan Cam
      330 words
    • Article
      Lock icon PERFORMANCES
      252 18  -  Compiled by Aaron Lye Amahl The Night Visitors A tender and inspiring story about the meaning of Christmas. Written in 1951 and televised in the US. the musical tells a warm and loving story of a young, crippled shepherd boy and his mother. Dec 18-22, 7:3opm 9pm, ChijmesHall. Tickets
      252 words
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      216 19 Where to wine, dine and entertain../""? (j§)£ssg£r CLUB 5* CLUB 5 two Christmas Eve Christmas Eve Ist drink at 338 per person Ist drink at $35 pec person plus a complimentary glass plus a complimentary glass of champagne. Come dressed of champagne. Come dressed in most colourful outfit and in
      216 words
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      Lock icon Page 19 Advertisements Column 2
      70 19 A NEW CONCEPT IN LEISURE DINING International Fare Weekdays Buffet Lunch $21.80 (Adult) $12.80 (Child) Buffet Dinner $25.80 (Adult) $15.80 (Child) Weekends Buffet Dinner (Fridays to Sundays) $27.80 (Adult) $16.80 (Child) High Tea $19-80 (Adult) $12.80 (Child) All prices quoted are subject to 10% service charge, prevailing government taxes and
      70 words
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      Lock icon Page 19 Advertisements Column 3
      73 19 LOBBY LOUNGE BAR .11 Adding 4 touch of class, the Lounge Bar is an intimate spot to unwind. Opening Hours: 1 lam to lam Happy Hours: spm to Bpm (all house pour drinks at $5.50 each) The pnet jutted u subject to 10% tenure charge. prevailing government taxes and GST
      73 words
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      Lock icon Page 19 Advertisements Column 4
      1 19 who's
      1 words
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      Lock icon Page 19 Advertisements Column 5
      47 19 Food For Thought I iih Dining aI its best 2 course meal $35.00 K Si lc.i t a starter. then main from our ala-carte menu. For an additional io.OO saMir an irresistible dessert as well. shrooms MODERN FINE DINING <t> -Hi> i hiinu •> s Reservations: 330 220S
      47 words
  • Page 19 Miscellaneous
    • Miscellaneous
      Lock icon Page 19 Miscellaneous Column 1
      866 19 I ne business i imes, oaiuraay, ueuemuei mi ii i ii side information that 4.00 Hanya Dikau. drid (R). central his best friend Pussy is 5.00 Ferdy. 11.00 The World Tonight. 8.00 AM Kids Central: The wearing the wire. 5.30 Aksi Mat Yoyo. 1L30 48hrs. Wiggles. Meanwhile, Mesakian, 0.00 Spirou.
      866 words
    • Miscellaneous
      Lock icon Page 19 Miscellaneous Column 2
      287 19 CRYPTIC CROSSWORD ACROSS 5 Animals hunted round marsh for 1 Hold-up for him on crowded yellow resin (7) train (11) 6 Controls has royal power, we 7 They buzz around in space over bear (5) stage (5) 7 Such a nuclear reactor badly set 8 One not out late at
      287 words
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      243 20 PHOTOS BY CHRIS LOH an affair! CHBAB UI-HOOK Wednesday's Shakespeare classic at SDT-Business Times Ballet Ball On EL 3 Ek. _jMr'' »l!lt v i^Msr^.: <* w j A D9 flK ..V '8 4 >14 ™-s >-<- IlrSLZ' A j?®*-' V if. itfL A J^iLl i !i,li w^ V i t
      243 words
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  • The Arts
    • Article, Illustration
      Lock icon Urban Sanctuary atop a building
      661 21  -  AFC's show staged on Centennial Tower's rooftop was a coup that took dance to a higher level By Cheah Ui-Hoon A DANCE performance takes on different dimensions when it's done at a specific site, more so when it's danced 35 storeys above the ground, on
      661 words
    • Article, Illustration
      Lock icon Inspiration Aet
      781 21  -  Artist Tang Mun Kit, who's staging his fourth solo exhibition, tells aaromlye how his works distill his search for the meaning of life and the need to improvise and experiment in the face of changing conditions AARON LYE 'I THINK inspiration comes from life itself. Every day, even
      RICHARD CHNG  -  781 words
    • Article, Illustration
      Lock icon Move over, Cirque du Soleil
      478 21  -  Swiss act Taipan Circus also features an all-human cast and looks set to woo crowds By, Aaron Lye MOVE over, Cirque du Soleil there's a new kid in town. Hailing from Switzerland with a cast of performers taken from all across Europe, the Taipan Circus
      PHOTOS BY RICHARD CHNG  -  478 words
    • SDT-BT Ballet Ball
      • Article, Illustration
        Lock icon Having a ball!
        664 22 THE spirit of renaissance Italy synonymous with the Western world's flowering of the arts pervaded the modern halls of Kallang Theatre this past Wednesday. From stage to the lobby, dance performance to dinner, the night was one of harmony, balance and classical art. The esteemed occasion was
        PHOTOS BY CHRIS LOH  -  664 words
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