The Business Times, 24 March 2001
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2001-03-24
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The Business Times
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Title Section15 2001-03-24 1 THE BUSINESS TIMES MITA (P) 107/03/2001 SINGAPORE Internet: http://business-times.asial .com.sg/ SATURDAY, MARCH 24, 2001 85c15 words
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Article80 2001-03-24 1 sn 1,***** (+31.79) BT-SRI M6J9 (+12.46) ST INDEX FUTUBES 1*719 (+39.00) SUCH FUTUBES 218J0 (+5.60) STOCK 1UKXET INDICES Friday Change KLSE COUP ***** -022 NIKKEI 225 131I4J4 +360.57 JUNG SENG 12J83.36 -38.49 SET INDEX ***** +0.83 JAKARTA COUP 371.47 MANILA COMP 1,431.57 -34.66 TAIPEI WPI 5,800.55 +69.60 SEOUL80 words
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Article85 2001-03-24 1 FOREX RATES us$ s$ IJSS (SS per l'S$) 1.783 £(l SVSS per 1.426 2.543 EURO(USS/S$/E) 0.891 1.589 DM 2.194 1.231 YEN 122.8 68.90 RM 3.800 1131 HKS 7.799 4.374 BAHT 1 44.24 24.814 Rl'PiAH 10,350 5.805 •s* to 100 units PRIME SATES SINGAPORE* 580 Kl'ALA LUMPUR 7.67 JAKARTA 39.0085 words
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Article, Illustration605 2001-03-24 1 Siow Li Sen - Hong Leong Finance to handle group's property business; finance business to come under SFL Bl Siow Li Sen [SINGAPORE] Hong Leong Finance Ltd and its subsidiary Singapore Finance Ltd yesterday announced a major reorganisation to enable the group Singapore's largest finance house to605 words
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383 2001-03-24 1 Ven Sreenivasan - With only 219 applications, it has lowest take-np rate since eWorldo£Sports B* Ven Sreenivasan [SINGAPORE] The public offer of shares by China-based food distributor United Food Holdings was undersubscribed by a massive 84.1 per cent drawing a meagre 219 applications and total application383 words
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672 2001-03-24 1 Anthony Rowley - Nikkei now up more than 10% from recent 16-year low From Anthony Rowley in Tokyo TOKYO stock prices enjoyed their second surge of the week yesterday as improved sentiment enabled the market to shrug off a further insurance company collapse672 words
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628 2001-03-24 1 Conrad Raj - Accountant Nicky Tan says no prndent investor would have agreed to invest in Raffles Town Clnb project on terms offered Hy Conrad Raj [SINGAPORE] No prudent investor in June 1996 would have agreed to invest $5 million in equity capital and628 words
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Advertisement55 2001-03-24 1 msPE Top Stories Bush-Qian meeting underscores differences. Next Page Is the US market gearing up for a solid rebound Next Page Serial laden with $38m inventory. Pg 4 About 25 PAP new faces for polls so far. Pg 9 BT Comment SingTel's Optus offer makes a good working model. Pg55 words
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Advertisement72 2001-03-24 1 Master juggler 4 I Gallery hopping Jaya Mohideen, S'pore's roving ambassador SMEfe S H H in liAHrrL to the Czech Republic and art gallery owner Ili tt 0 011 -I V* —m>* panaae M Lamborghini ranks high in the temple of speed, V. V^ii AHI but what are its corporate72 words
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Advertisement10 2001-03-24 1 Time to review way proprietary clubs are run, Pg 910 words
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Article, Illustration803 2001-03-24 2 Sticking points include possible US arms sales to Taiwan, Beijing's human rights policy PRESIDENT George W Bush of the US and China's Deputy Prime Minister Qian Qichen, meeting in the White House in Washington on Thursday, failed to resolve serious disputes over US arms sales toXINHUA - 803 words
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642 2001-03-24 2 MARKET CHILL Thursday's rally seen as short-term rebonnd in a bear market LATWP [LOS ANGELES] After a dizzying early plunge, Wall Street staged a furious afternoon rally on Thursday that raised hopes of at least a temporary hedt to the viciousLATWP - 642 words
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491 2001-03-24 2 That's why it cut rates a second time that month, minutes reveal Reuters [WASHINGTON] Federal Reserve policymakers decided to cut US interest rates aggressively for a second time in January because the economy was losing steam surprisingly swiftly, minutes of a policy meetingReuters - 491 words
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611 2001-03-24 2 NYT [NEW YORK] With the economy softening, investors fleeing stocks, and interest rates dropping all forces that normally batter the US dollar why has it instead gotten stronger? While no one is paying much attention to anything but stocks these days,NYT - 611 words
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ON THE grapevine
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Article85 2001-03-24 2 THE Kuok Group's offer for Pacific Carriers Limited (PCL) comes with a section on frequently asked questions (FAQ). One broker said the FAQ should perhaps have included these two questions and their answers as he was tired of answering them himself. They are: ♦What happens if85 words
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Article105 2001-03-24 2 ON Thursday, Cheung Kong's chairman Li Ka-shing was fielding most of the questions from the media on his companies' results when he decided his right-hand man, Canning Fok, wasn't doing enough work. "Let Canning take this question," he told the journalist. "He takes home so much salary!"105 words
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Advertisement29 2001-03-24 3 There comes a time to look old conventions in the eye and say, "Thanks, but no thanks." ■Hb -JhH W 11 '1 n 1 1 0 MMHH|^BB^: JHr? Mm29 words
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SINGAPORE companies
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485 2001-03-24 4 Siow Li Sen - Bb Siow Li Sen FINANCE companies are in danger of becoming an endangered species. From 31 in 1988, soon there will only be eight left as financial deregulation forces these lenders to small businesses, hawkers and individuals to consolidate485 words
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684 2001-03-24 4 Lee Han Shih - But investors still place sharp discount on groups' asset values By Lee Han Shih IT must be painful for the management of United Industrial Corp and Singapore Land to announce a big jump in profits yesterday, and yet see their companies' shares still684 words
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Article, Illustration814 2001-03-24 4 Ven Sreenivasan - Figure represents written-down v&lne of unsold CD recorders and work in progress; profit down 64% By Ven Sreenivasan OPTIMISTIC sales and profit forecasts after the January 2000 Las Vegas Consumer Electronics show prompted Serial System to go on a production binge that has left theCHRIS LOH - 814 words
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Article, Illustration307 2001-03-24 7 Christopher Tan - CCL, Audi form 50-50 JV to distribute, import Andis By Christopher Tan HISTORY has repeated itself. Just over a year after announcing it would return Singapore's Mercedes-Benz wholesale functions to DaimlerChrysler, Cycle Carriage Ltd (CCL) said yesterday Audi has taken an active roleFILE PHOTO - 307 words
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336 2001-03-24 7 AFX-Asia, Reuters [SYDNEY] Singapore Telecommunications is looking to increase the cash component of its takeover bid for Cable Wireless Optus in an effort to win the favour of C&W Optus parent Cable Wireless pic, reported AFX, citing a Sydney Morning Herald article.AFX-Asia,; Reuters - 336 words
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811 2001-03-24 7 ven sreenivasan - HOCKIffWmJsW ven sreenivasan WHEN it rains, it pours. And shareholders of Singapore Telecommunications could find themselves caught in a flood. At least, that seems to be the prevailing worry, which has sent the shares of the telecommunications giant plummeting in recent weeks.811 words
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COMPANYBriefs
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Article92 2001-03-24 8 EU Yan Sang's profit tumbled 29 per cent to $2.2 million for the six months ended Dec 2000 despite a 7 per cent rise in turnover to $37.6 million. Operating profit was hurt by the increased investment in branding, marketing, and research and development;92 words
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Article65 2001-03-24 8 Reuters GUTHRIE GTS* 2000 net profit fell 38 per cent to $8.65 million. Turnover was $200.99 million against $259.53 million a year ago. Guthrie said profit fell due to higher interest expense incurred by two of its property units. The group expects an improvement inReuters - 65 words
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65 2001-03-24 8 Reuters SUPER Coffeemix's earnings dropped 16 per cent to $4.3 million. Turnover rose to $108.82 million from $97.07 million. The company said the higher turnover was due to better sales performance in its operating countries but the drop in profit was attributed to higher MalaysiaReuters - 65 words
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112 2001-03-24 8 STRONG contributions from subsidiary Gul Technologies helped Tuan Seng Holdings lift its bottomline earnings by 39 per cent to $14.5 million last year. This was despite a 15 per cent fall in group turnover to $407.97 million. While its technology division had a pre-tax112 words
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Article68 2001-03-24 8 FDS Networks chalked up net earnings of US$l.6l million (552.85 million) last year, up 9 per cent from FY1999. Turnover rose 29 per cent to U5517.55 million. The results translated into earnings per share of US 2.494 cents based on a weighted average of 6568 words
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Article73 2001-03-24 8 Reuters PRIMA'S 2000 net profit was down 65 per cent to $11.49 million. Turnover increased to $180.23 million from $174.11 million. The restaurant operator said the higher turnover came mainly from its investment and food operations but profit declined due to a drop in export volumesReuters - 73 words
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Article63 2001-03-24 8 THE poor state of the construction industry saw PSL Holdings sinking further into the red with a loss of $4.4 million for FY2OOO, compared to a loss of of $3.4 million the previous year. This was despite a 34 per cent rise in turnover63 words
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Article351 2001-03-24 8 Tang Weng Fai - Users much more at ease with Internet today, and security less of an issue, survey finds By Tang Weng Fai A SURVEY of Internet banking in Singapore has ranked DBS the top bank in terms of leadership in technological advances, followed by Citibank and OCBC.351 words
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Article, Illustration139 2001-03-24 8 MANVINDER Puri has returned to Raffles Holdings' hotel management arm Raffles International Ltd (RIL). He will be senior vicepresident (operations), supporting president and chief operating officer Jennie Chua in the "strategic oversight of the operating performance of hotels" and ensuring "the implementationFILE PHOTO - 139 words
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282 2001-03-24 8 Payontratioof24% for Delgro, 48% for unit SBS for FY2OOO TRANSPORT group DelGro Corp is recommending a one-for-one bonus issue, a move that will boost the company's share capital and make its shares "more affordable". Directors said the move should ultimately benefit shareholders as282 words
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Article186 2001-03-24 8 Janice Lee - By Janice Lee HUTCHISON IntraPage Pte Ltd was placed under judicial management yesterday, following the petition for a judicial management order placed by Intraco Ltd and Teledata (Singapore) on Feb 26. The interim judicial manager, Yin Hum Choy of K C Yin Co, has been appointed186 words
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Advertisement745 2001-03-24 4 UNITED FOOD HOLDINGS LIMITED (Incorporated in Bermuda on 14 August 2000) INVITATION IN RESPECT OF 130,550,000 NEW SHARES OF HK$O.25 EACH COMPRISING: (A) 9,550,000 OFFER SHARES AT 550.315 FOR EACH OFFER SHARE BY WAY OF PUBLIC OFFERAND (B) 121,000,000 PLACEMENT SHARES AT 550.315 FOR EACH PLACEMENT SHARE BY WAY OF745 words
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Advertisement369 2001-03-24 4 Advertisement Internet business Opportunities Expo. The Internet has created a million millionaires... Why not you?" Toronto, Canada Internet WoridsKes franchise. YOUR OWN INTERNET cncc CCMMMD Business Opportunities The Worksites Internet BUSINESS rrtCC aCIVWVMH Expo Business Opportunities Expo Smwr Anxxn«wwwv comes to will show you how you can Imagine owning a369 words
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Advertisement135 2001-03-24 5 Introducing the new Passat. Why go with the crowd when you can overtake it? Impressively endowed with perfect ergonomics, sleeker looks, increased torsional rigidity, full leather upholstery and eye-catching instrument dials, the new Passat surpasses all expectations. Come down now and experience the exhilaration of the new Passat! Showrooms' opening135 words
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SINGAPORE markets
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Article325 2001-03-24 6 Stecla Volume Gokltron 5c 48,329,000 Omni Ind 10c 21,664,000 PacificCenturylOc 19,540,000 Frontline 5c 13,053,000 SGXlc 10,911,000 GES mtl Ltd 20c 10,700,000 Vickers Capital 25c 10,105,000 Integra 5c 9,301,000 pa 25c 9,285,000 Asia Food&Prop 9,081,000 Stocta DBSGrp 76,908,760 Omni Ind 10c 59,223,320 OCBC 56,292,561 VentureMfg25c 55,737,644 Chart Semiconductor 26c 44,330,145 OUB325 words
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Article, Illustration594 2001-03-24 6 r. sivanithy - STOCKS r. sivanithy NASDAQ'S 3 per cent overnight recovery and a rise in regional beacons Japan and Hongkong helped stem the bloodletting in the local market yesterday, enabling the Straits Times Index to regain the 1,700 level it lost on Thursday. Also contributing594 words
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Article, Illustration167 2001-03-24 6 R Sivanithy - WARRANT WATCH By R Sivanithy IN yesterday's column we featured Keppel Capital's warrant, which oddly enough didn't budge despite a sharp drop in the underlying shares. Today's feature is Singapore Land's 2005 instrument, which displayed exactly the same behaviour yesterday it stayed put at $1.50167 words
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Article, Illustration243 2001-03-24 6 Ven Sreenivasan - HOT STOCK By y Ven Sreenivasan FRASER Neave (F&N), which has fallen below critical support levels in recent weeks, managed to end yesterday's session with a 25-cent gain at $6.75. This is still below the previous support level of $6.90, which the stock broke243 words
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Article, Illustration483 2001-03-24 6 larry wee - CURRENCIES But the near-term outlook for Asian currency units looks less than stellar larry wee THE Dow's impressive recovery from early losses, combined with pre-week-end profit-taking on overbought US dollar positions, gave most currencies a reprieve in Asian trading yesterday. The Dow's late turnaroundSource: Reuters - 483 words
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Article2785 2001-03-24 6 UNIT TRUSTS FUNDS Manager's prices (Ss):Mar24 Aberdeen Amt Mgt Asia Ltd Aberdeen Select Portfolio: Global MNCFd 0.702 0.738 Global Technology Fdl** 0 592 0.623 UK Blue Chip Fd!** 0.707 0.743 American Opport Fd 0.777 0.817 Corrt Euro Eqty Fd!** 0.988 1.038 Japan Eqty Fdl** 1.161 1.220 Asian Fixed Income Fd2,785 words
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Advertisement1582 2001-03-24 7 f CWT DISTRIBUTION LIMITED 1 Announcement Final Results The Directors of CWT Distribution Limited wish to make the following Announcement: UNAUDITED RESULTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2000 GROUP COMPANY 2000 1999 2000 1999 $'000 $'000 $'000 $'000 TurnoVer 171.377 155,245 10 56,245 62,520 (10) Finance income 7191,582 words
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Article4920 2001-03-24 8 Nat aarn llonTackC Mar 16 .1 0.4861 0.735 OJt 0.47 Cw "rT <*■> <*™> (ct«) <et» MCLiy Fteif P 25*969 liwa 7.00 §5) AWHkto" SSo |-2£ L J* EJ2Z2E" 72 s:|; ssj Ms as aw rs; sa. k° A*eoW J*n 31 P 4.789 15.611L 0.31 17L4,920 words
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SINGAPORE news
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Article, Illustration245 2001-03-24 9 Anna Teo - 137? on the economy inflation By Anna Teo THE consumer inflation rate slipped to 1.3 per cent last month from 2 per cent in January mainly on account of lower food prices. Higher housing and miscellaneous costs outweighed the dip in food prices, leading toSource: Dept of Statistics - 245 words
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149 2001-03-24 9 THE Singapore Productivity and Standards Board (PSB) has corporatised the running of some revenue-raising activities to help it function more efficiently in the New Economy. From April 1, two companies will be set up to run the businesses. PSB Corp will offer training, consulting, testing149 words
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Article, Illustration399 2001-03-24 9 Marisaa Chew - $35m revamp plan aims to yield vibrant recreation area By Marisaa Chew AS part of the third and final phase of redevelopment, the Singapore Botanic Gardens will get a bigger entrance and new buildings, and the government will widen Cluny Road to399 words
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322 2001-03-24 9 Ong Soon Teik Singapore via Internet - MAiLirrrrn Ong Soon Teik Singapore via Internet THE recent legal proceedings in the Raffles Town Club case is a real eye-opener. I am not a member of the club nor do I have any interest in the matter other than as322 words
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Article132 2001-03-24 9 Abdul Malik Marican Singapore via Internet - Abdul Malik Marican Singapore via Internet I REFER to the article, "The saga of Raffles Town Club by Conrad Raj (BT, Mar 23). As a member of the club, I am equally shocked to find out that I am sharing the club with 19,000 other132 words
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Article, Illustration621 2001-03-24 9 Chuang Peck Mine - Focns is not on election date bnt on hnnt for heavyweight candidates, says PM Goh From Chuang Peck Mine in Budapest THE People's Action Party has so far recruited nearly 25 candidates for the coming general election, but the hunt forJOYCE FANG ST - 621 words
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Article, Illustration323 2001-03-24 9 ENGLISH football club Liverpool will play Singapore's S-League select XI at a match scheduled for July 16, the club announced yesterday. The Singapore match will be the first time Liverpool's official first team squad plays in Asia. Fans will seeREUTERS - 323 words
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736 2001-03-24 9 Chuang Peck Ming - Investors Flextronics and. Thakral share their experiences FYom Chuang Peck Ming in Budapest SINGAPORE-based Flextronics took only six months to get its plant in Hungary up and running a testimony to the investor-friendly environment in this former communist state in Eastern Europe. It736 words
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163 2001-03-24 9 SINGAPORE Immigration Registration (SIR) will have a new director next month. He is Fong Yong Kian, who is director of tax strategy at the Ministry of Finance (MOF). He will replace Lu Cheng Yang, who will leave for a post with the environment163 words
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Advertisement68 2001-03-24 9 We welcome letters. E-mail us at bt!etter@ sph.com.sg or fax us at *****71, or write to: The Business Times, Times House, 390 Kim Seng Road, Singsipore *****5. We need your full name, address and telephone number, so we can verify it came from you. Please use temperate language, and bear68 words
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REGIONAL news
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657 2001-03-24 10 Shoeb Kagda - Lawmakers' fear of public backlash gives president time for connter-offensive From Shoeb Kagda in Jakarta INDONESIA'S parliament has backed down from its open confrontation with President Abdurrahman Wahid by deciding not to push ahead with moves to speed up impeachment proceedings against657 words
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Article458 2001-03-24 10 Eddie Toh - Unclear if Rashid will use chance to exit from RHB Bank FY(jm Eddie Toh in Kuala Lumpur SARAWAK-BASED Utama Banking group is keen to merge with Rashid Hussain's RHB Bank, but it is unclear if the Malaysian tycoon will use the opportunity to head458 words
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298 2001-03-24 10 KUALA LUMPUR AP POLICE questioned a high-profile opposition leader yesterday on suspicion of sedition for comments arising from Malaysia's worst ethnic clashes in decades, which killed six and injured dozens earlier this month. As officers interviewed National Justice Party leader Wan Azizah Ismail, wife ofAP - 298 words
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334 2001-03-24 10 JAKARTA Reuters INDONESIAN President Abdurrahman Wahid yesterday cast suspicions on Exxon Mobil's temporary closure of vital gas fields in Aceh, pointing to speculation the firm might be trying to improve its contract. But Exxon reiterated yesterday the fields were closed two weeks ago forReuters - 334 words
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Article, Illustration293 2001-03-24 10 Initial findings suggest accidental explosion of fnel **nh Bloomberg [SINGAPORE] The investiga tion into the Thai Airways explosion that destroyed an aircraft in Bangkok on March 3 has found no evidence of a bomb, the US National Transportation Safety BoardBloomberg; AFP - 293 words
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412 2001-03-24 10 KUALA LUMPUR Bloomberg AS Saleh Sulong, chairman of Malaysian conglomerate DRB-Hicom Bhd, left yesterday for the resort island of Pangkor, he was more likely to have balance sheets on his mind than a weekend holiday. Along the way, the trained accountant would probablyBloomberg - 412 words
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313 2001-03-24 10 JAKARTA Bloomberg, AFX-Asia INDONESIA has agreed to lower interest charges and to cancel fines for arrear debt repayments from state utility PT Perusahaan Listrik Negara, or PLN, as part of a recovery plan, top Economic Minister Rizal Ramli said. He saidBloomberg,; AFX-Asia - 313 words
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Article, Illustration701 2001-03-24 11 Audrey Tan - HK banks follow Fed's move as HK$ is pegged to US$; third cut this year From Audrey Tan in Hongkong THE Hong Kong Association of Banks (HKAB) took its cue from the US Federal Reserve yesterday, cutting the savings deposit rate half,FILE PHOTO - 701 words
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386 2001-03-24 11 TAIPEI Falling overseas demand forces firms to shed workers; production shifted to China to cnt costs Bloomberg TAIWAN'S jobless rate rose to a record in February as falling overseas demand forced manufacturers to shed workers, and companies moved production to China toBloomberg - 386 words
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Article262 2001-03-24 11 TAIPEI Bloomberg WHEN World Wiser Electronics Inc, a Taiwan computer parts maker, announced a US$2B3 million (Ssso4 million) offer for rival Uni Micron Technology Co this week, it became the fifth company this month to seek strength in numbers amid a slowdown in technology orders.Bloomberg - 262 words
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NOTEBook
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101 2001-03-24 11 Bloomberg [KUALA LUMPUR] Tenaga Nasional Bhd of Malaysia sold US$6OO million (551.07 billion) of 10-year bonds, a company statement said, at a higher yield than earlier indicated to investors. The funds will be used to buy back existing debt. The 7.625 per cent 10-yearBloomberg - 101 words
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Article76 2001-03-24 11 Reuters (MANILA] Philippine food and beverage conglomerate San Miguel Corp said yesterday it had signed an agreement with Coca-Cola to jointly acquire Coca-Cola Philippines from Australia's Coca-Cola Amatil. Under the deal, valued at A 52.2 billion (about 551.94 billion), San Miguel will acquire 65 perReuters - 76 words
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90 2001-03-24 11 AP [KUALA LUMPUR] Police arrested 12 people —11 Malaysians and an unidentified foreigner suspected in a credit card cloning scam involving transactions worth RMB million (553.75 million) in countries across Europe and Asia. The suspects used hi-technology machines and transfer details fromAP - 90 words
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Article, Illustration440 2001-03-24 11 CALCUTTA But there are still fears of a prolonged payment crunch; sentiment stays negative Reuters INVESTORS and brokers in Calcutta heaved a sigh of relief as the local stock exchange said it had solved its payment crisis, but analysts said it wasReuters; REUTERS - 440 words
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Article, Illustration1134 2001-03-24 11 karim raslan - WRITER'S JOURNAL The need for Article 9 must be reassessed for Japan's sake, as well as South-east Asia's karim raslan A STRONG, confident and prosperous Japan is important for South-east Asia. However, with both the yen and the Nikkei 225 stock index hovering at worrying lows,1,134 words
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Advertisement101 2001-03-24 10 Since 1975 our worldwide staff of over 275 multi-disciplined professionals V W V including lawyers chartered accountants i V chartered secretaries and bankers have A V provided confidential and cost effective company formation in all the ma|or low ,ax are<1s mcludin 9 Incorporation Fees from USS500 The world's leading Florence101 words
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MOTORING
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Article, Illustration1178 2001-03-24 12 CHRISTOPHER TAN - Would it kill carmakers to make a multi-purpose vehicle (AKA family car) that looks good? Apparently not says father of three, CHRISTOPHER TAN CHRISTOPHER TAN THEY've made MPVs drive like cars, they've moulded them into semi-elegant shapes, they've made them sporty... rugged even. But has anyone1,178 words
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Article, Illustration1011 2001-03-24 12 D&ytona 500 winner runs marathons and sees similarities between racing and running NYT ARE race-car drivers athletes? Does sitting in a car for three hours in 60-degree heat travelling 290kmh match the skills of running 42km in four hours? After having rim three marathons in theNYT; REUTERS - 1,011 words
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BUMPER to bumper
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98 2001-03-24 13 NISSAN Motor has booted out its Japanese sales chief and promoted its design head as part of top-management changes under a hard-hitting restructuring plan. Hiroshi Moriyama, head of domestic marketing and sales, will become company auditor—a sidelining, as Nissan seeks to revitalise a lacklustre sales98 words
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92 2001-03-24 13 FORD Motor has bought a 20 per cent stake in Indian software firm Third ware Solution its first investment in an infotech company outside the US. Five-year-old Bombay-based Thirdware specialises in e-business software services and has worked with Ford for the past92 words
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Article65 2001-03-24 13 NISSAN is raising its stake in Thai partners Siam Nissan Automobile and Siam Motors Nissan from 25 per cent to 74.9 per cent. The deal is expected to be completed in May, according to AP. The companies produced 41,058 vehicles in Thailand in 2000, such as65 words
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Article124 2001-03-24 13 VOLKSWAGEN-owned Audi posted its best year in 2000. Sales revenue, including that from the Italian general importer AutoGerma, reached DM39 billion (5531.7 billion). Without AutoGerma, sales were up 8.3 per cent on the previous year to DM32.1 billion. Pre-tax operating profit was DM1.856 billion, up from124 words
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Article, Illustration90 2001-03-24 13 A LEADING US consumer group has named the Volkswagen Passat "Best Choice of the Year". Consumers Union said in its magazine Consumer Reports that the Passat is 2001's top pick because "whether as a saloon or as an estate, whether with four-cylinder motor90 words
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Article106 2001-03-24 13 IF YOU haven't lined up anything for the weekend, go check out two new cars. Car Cars will unveil the Volkswagen Passat GP at 19 Leng Kee Rd. The face-lifted cars will start at $159,000 for the 1.8-litre turbo to $179,000 for the 2.8-litre V106 words
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Article150 2001-03-24 13 WHILE vehicle sales in the US still seem reasonably healthy, Autopolis, an industry consultant, says vehicle production fell more than 20 per cent in the first 11 weeks of the year. At the start of February, inventories were 40 per cent above normal at 84 days,150 words
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109 2001-03-24 13 GM-OWNED Saab is setting up a technology centre at Molnlycke, outside the Swedish city of Gothenburg, for development work on future GM premium cars. The project is being pursued with GM alliance partners Alfa Romeo and Lancia. The centre will initially have about109 words
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Article117 2001-03-24 13 Christopher Tan - Compiled by Christopher Tan REFLECTING changes in the UK, the Rover representative here has changed its name to MG Rover Singapore. Karsono Kwee, the head of the distributor, said MG Rover Singapore "will continue to invest and provide top-notch technical support and customer care to117 words
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Article, Illustration667 2001-03-24 13 CHRISTOPHER TAN - A new model in September will power group sales to 1,500 in 4 years, CHRISTOPHER TAN learns CHRISTOPHER TAN A» UTOMOBILI Lamborghini expects annual sales of its exotic, fast cars to rocket to 1,500 units in four years, from almost 300 last year and an average of 250PHOTOS BY ARTHUR LEE - 667 words
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Article178 2001-03-24 13 Chua Aik Hong Singapore, via Internet - Chua Aik Hong Singapore, via Internet I REMEMBER one of the reasons for constructing the East Coast Parkway was to allow vehicles to travel from west to east and east to west without having to pass through the central business district. But now, morning journeys178 words
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175 2001-03-24 13 Denis Distant Singapore, via Internet - Denis Distant Singapore, via Internet I REFER to the letter "Expressway crawlers keep left" by Goh Lam Ee (Wheel Matters, March 17) and his comment that in the US, driving at or below the speed limit in the overtaking lane is175 words
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Article88 2001-03-24 13 William Wong Singapore via Internet - William Wong Singapore via Internet I REFER to the letter "Expressway crawlers keep left" by Goh Lam Ee (Wheel Matters, March 17). In Singapore, the traffic is heavy throughout the day, especially on the expressways. It is safe to keep within the speed limit and keep88 words
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211 2001-03-24 13 Han Liang Yuan (Ms - Han Liang Yuan (Ms) Land Transport Authority WE REFER to the letter "Why allow foreign bull-bar cars here?" by Chang Choon Fong (Wheel Matters, March 17). Mr Chang is right in pointing out that bull-bars are not allowed on Singapore-registered vehicles.211 words
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Page 13 Advertisements
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Advertisement89 2001-03-24 13 If you have something $100 worth of motor-related to get off vouchers. Prizes are your chest, write to us. \J\/p~] fz f-> j sponsored by We welcome feedback STAMFORD TYRES, and suggestions from IY 1 a Singapore s only readers. listed tyre and auto The AUTO MOBILE services group. ASSOCIATION89 words
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e-NEWS
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508 2001-03-24 14 NEW YORK At top end of range, Agere will now raise USs4.2b, down from earlier expectations of USs7b NYT TRYING to entice investors in a sour market for initial public offerings, Lucent Technologies has again cut the offering price ofNYT - 508 words
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382 2001-03-24 14 LOS ANGELES Music industry association accuses it of failing to remove copyrighted songs Reuters A MUSIC industry trade group on Thursday said it will file a complaint in court next week saying Napster has failed to comply with an injunction requiring it to stripReuters - 382 words
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620 2001-03-24 14 SYDNEY It eases market fears over telcos' ability to give favourable capital returns AFX THE outcome of the 3G spectrum auction in Australia, which ended on Thursday raising A 51.17 billion (SSI billion) after only six days of bidding, is expected toAFX - 620 words
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307 2001-03-24 14 TOKYO AFP SONY Corp has received preliminary approval from the Financial Services Agency to launch an Internet bank, which would be the first lender in Japan set up by a non-financial company. Sony Bank Inc would be established on April 2 followingAFP - 307 words
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Article, Illustration460 2001-03-24 14 Reuters, AP [SAN FRANCISCO] Security software maker VeriSign Inc said on Thursday that an individual posing as a Microsoft Corp employee was able to obtain two digital certificates the online equivalents of signatures that could potentially allow him to send harmful or virus-ridden softwareReuters,; AP - 460 words
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637 2001-03-24 14 UTOKYO AP, Reuters IN an attempt to catch up with leading Japanese mobile carrier NTT DoCoMo, JPhone Group will start selling cellphones that can show three-dimensional images, the company said yesterday. Japanese cellphones already show colour pictures and photos, which can be downloaded fromAP,; Reuters - 637 words
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EBriefs
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Article88 2001-03-24 14 Bloomberg [HONGKONG] Pacific Century CyberWorks Ltd may post a loss for 2000, as higher interest payments and write-offs on Internet investments wipe out profits from Cable Wireless HKT Ltd which it bought last year. CyberWorks, owned by tycoon Richard Li, will announce its results onBloomberg - 88 words
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Article53 2001-03-24 14 Bloomberg [SCHAUMBURG, Illinois] Motorola said it will eliminate another 4,ooojobs to reduce costs and will take charges against first-half earnings. The company on March 13 said that it would cut 7,000 jobs in its mobile-telephone and pager unit. The company eliminated s,ooojobs at the unitBloomberg - 53 words
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61 2001-03-24 14 Bloomberg [HELSINKI] Nokia, the world's largest cellular phone maker, said it plans to buy back 1.45 billion euros (552.3 billion) in stock to finance acquisitions or to cancel the shares. It received permission from shareholders to repurchase the maximum 50 million shares.Bloomberg - 61 words
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Article69 2001-03-24 14 Bloomberg [HANOVER, Germany] Palm Inc, the biggest maker of handheld computers, said growth in the market for its products may more than halve this year as consumers cut spending amid an economic slowdown in the US. The market is set to expand by between 40Bloomberg - 69 words
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Article62 2001-03-24 14 Bloomberg [ELMWOOD PARK, New Jersey] WebMD Corp, which links insurers, doctors and patients online, said its fourth-quarter loss widened to US$l.35 billion (552.4 billion) as it ended ventures with News Corp and DuPont Co and integrated acquisitions. The loss widened from U*****.7 million aBloomberg - 62 words
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WORLD news
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653 2001-03-24 15 STOCKHOLM But French finance minister says Europe remains a 'zone of stability and solidity' Reuters FRENCH Finance Minister Laurent Fabius said yesterday that signs of a global economic slowdown spreading to parts of the euro zone inevitably had consequences for pol-icy-makers.Reuters - 653 words
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357 2001-03-24 15 LONDON House of Lords judgment paves way for civil case to claim more than £550 m in damages Reuters THE Bank of England is to face legal action over its supervision of collapsed Bank of Credit and Commerce International following aReuters - 357 words
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357 2001-03-24 15 TOKYO It cites a string of bad investments in golf courses in' Bos Reuters JAPANESE general contractor Fujiko Co yesterday filed for court bankruptcy protection, citing a string of bad investments in golf courses during the 1980s. Fujiko, which will try to reorganise, saidReuters - 357 words
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Article, Illustration392 2001-03-24 15 TOKYO Bloomberg, Reuters JAPAN will ban livestock and meat imports from Europe from today on concern the outbreak of the highly contagious foot-and-mouth disease in the UK may have spread throughout Europe. The Ministry of Agriculture, Forestry and Fisheries said it will stopBloomberg,; Reuters; AFP - 392 words
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Article, Illustration582 2001-03-24 15 Reuters [NADI, Fiji] The fiery remains of Russian space icon Mir roared over the South Pacific nation of Fiji yesterday, treating viewers to a spectacular show as the superheated fragments streaked across the sky to a watery grave. "We sawReuters; AFP - 582 words
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WORLDWatch
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Article102 2001-03-24 15 Bloomberg [HANOVER] Deutsche Post AG said 2000 net income rose 48 per cent as Europe's largest mail carrier by sales bought logistics services and a bank to stave off increasing competition. Net income rose to 1.53 billion euros (552.4 billion), or 1.96 euros a share,Bloomberg - 102 words
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104 2001-03-24 15 Bloomberg [WASHINGTON] The US and Australia confirmed that the two countries are moving toward starting tnikg on a free trade accord. US Secretary of State Colin Powell and Australian Foreign Minister Alexander Downer, who met here on Thursday, confirmed that progress has beenBloomberg - 104 words
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74 2001-03-24 15 Bloomberg [DENVER] Barrett Resources Corp said its board rejected a US$2.2 billion (553.9 billion) hostile takeover bid by the US unit of Royal Dutch/Shell Group because it undervalues the company. Shell offered US$55 a share for Barrett, a Denver-based natural gas producer, on March 7.Bloomberg - 74 words
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Article131 2001-03-24 15 Bloomberg [ATLANTA] United Parcel Service, the largest delivery company, said it expects earnings to fall this quarter and next because businesses are shipping fewer goods in a slowing US economy. US shipment growth declined to one per cent in the past two months asBloomberg - 131 words
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86 2001-03-24 15 Bloomberg [NEW YORK] Barclays Capital, the investment banking arm of the UK's Barclays pic, has hired 21 traders and sales staff to expand its energy futures operation at the New York Mercantile Exchange. Energy trading has grown in importance with the increased deregulation of powerBloomberg - 86 words
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Page 15 Advertisements
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Advertisement16 2001-03-24 15 TRAVEL GUIDE su The Straits Times Classified. |cat*| Classifications 573 587. h. s«a it fu il16 words
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FINANCE & commodities
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272 2001-03-24 16 Wong Ann Chuen Refco (Singapore) Pte Ltd - SGX Derivatives Trading Report CT fTpnro TimUit Wong Ann Chuen Refco (Singapore) Pte Ltd THE Singapore stock market rose yesterday, buoyed by Wall Street's overnight rally. The advance, led by technology stocks, saw the benchmark Straits Times Index closing 31.79 points or 1.89272 words
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Article231 2001-03-24 16 MSCI Taiwan Index THE Taiwan stock market closed higher for a second day in a row yesterday, motivated by a stunning overnight late turnaround in the US. The MSCI Taiwan stock index closed 3.82 points, or 1.47 per cent, up at 263.74 points. Turnover for231 words
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Article204 2001-03-24 16 Reuters London THE US dollar fell one per cent from this week's threemonth highs against the euro as a rebound in stocks reduced its safe haven appeal and talk of a euro zone rate cut spurred optimism about the region's growth prospects. While the euro was the biggestReuters - 204 words
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Article, Illustration1084 2001-03-24 16 1MTBRBAME CROSS RATES Mar 23 C$ twfc Eiro ffr Dw H*$ *6**+* y„ Wo, |M Hu> S$ ttmi Sft «TS m ya m S 2S iSS ssss SIS JS 2 l S IS °S £2 04 2r °iiS °J!? 7.398 005 S S8 £S,£2 K S I SJM 3 S1,084 words
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Article1774 2001-03-24 16 SI COM ruTMKBS Mar 23 RUBBER (Mares dost* as at 5J0e*) RSSICONTRACTttcefitsAa) Close Volume OpM j*5!| Low Sett (ton—s) Interest Apr 01 99.75 •toy 01 100.50 400 Jw101 KJ2.00 800 JuVScp 01 »3.00 750 RSS 3 CONTRACT (US certs/kg) Volume OpM No*** Whjfc low Sott (tow—s) lotorost Jf ®J, 55,501,774 words
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Page 16 Advertisements
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STOCKS east asia
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Article, Illustration2872 2001-03-24 17 HONGKONG AFP Q Hang Seng -38.40 HONGKONG share prices fell 0.3 per cent yesterday, after a strong rebound from heavy opening losses petered out in afternoon trade amid continuing concerns surrounding the outlook for US stockmarkets, dealers said. The key Hang SengAFP - 2,872 words
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2095 2001-03-24 17 TOKYO AFP Q Nikkei 225 *36(157 SHARE prices in Tokyo rose 2.8 per cent yesterday as investors snapped up technology issues following a stunning rebound by the US Nasdaq composite, brokers said. The Tokyo Stock Exchange's Nikkei--225 Average closed up 360.57 points at 13,214.54, reversingAFP - 2,095 words
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Article, Illustration1107 2001-03-24 17 AFP P Shenzhen B Index -3188 CHINA'S Shenzhen B Share Index ended 9.13 per cent lower, down 32.88 points, yesterday at 327.12. Turnover surged to an all-time high of HK57.42 billion, erasing the former record of HK55.45 billion set on March 7. Shanghai B shares plunged 7.9 per centAFP; Source: Credit Lyonnes Securites (Asia) Ltd - 1,107 words
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Article393 2001-03-24 17 AFP FIWP Index +68.60 TAIWAN share prices closed 1.2 per cent higher yesterday on buying of technology stocks spurred by the Nasdaq's overnight surge, dealers said. The Taiwan Stock Exchange Weighted Price Index rose 69.60 points to 5,800.55 on turnover of NT5144.59 billion. "There was strong buying interest ofAFP - 393 words
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Page 17 Advertisements
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Advertisement21 2001-03-24 17 ___RTki I I I A J I I IJ J V K] I Bill I TheßusinessTimes IMTCI I IftCUPC rUAMftCC CUEDVTIiIUC21 words
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STOCK klse
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Article, Illustration435 2001-03-24 18 AFP CI Composite Index -022 MALAYSIAN shares closed almost flat yesterday after local buying offset earlier losses but trade was thin ahead of a long weekend, dealers said. The Kuala Lumpur Stock Exchange Composite Index feU 0.22 of a point to finish atAFP - 435 words
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Article8273 2001-03-24 18 INDUSTRIALS Conswnw proAicts 2001 Last Val Day Net Cap L— Cawpn» «a»a 'BOO t«» Laar >/| $nm 340 300 Aimomoto 302 9.1 1224 45 29 Angkasa 31.5 I 20 32 31 46 4 342 286 ApolloFood Hk) 300 6.5 1200 356 300 Asia File 328 qj 218.4 3875 3225 BAT8,273 words
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Page 18 Advertisements
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Advertisement24 2001-03-24 18 Fits the job to a tee. Will blossom in the post. f\ Find the right candidate. A TheStraitsTimes I Call 1800 741 1883 I24 words
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SGX clob & regional stocks
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Article2482 2001-03-24 19 BONDS A WARBAMTS M M N» LaaMaata hn Zm Can Um "ote f 111 >*< Maa In in, T taft *0 0.5 S Acma W*****4 0.5 urvch 42 0.5 0.5 0.5 1 1 410 t 300 539 94 OO 23 2.5 s AIITach W*****7 3 1 n. 94 4 312,482 words
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Article312 2001-03-24 19 AFP Composite Index +10J2 SOUTH Korean share prices rose 2 per cent on the back of Nasdaq's rebound. The Composite Index closed up 10.92 points at 537.97. AFP ■a *h tmmSM 4160 455 B/*ki Ttcll 550 -T5 Central Bank 170 0 ChailComm >***** -500 Dm Gu Bank 1340 0AFP - 312 words
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Article287 2001-03-24 19 AFP Q Composite Index -34.66 PHILIPPINE share prices fell 2.4 per cent yesterday on continuing turmoil in overseas markets. The Philippine Stock Exchange Composite Index dropped 34.66 points to close at 1,431.57. Volume turnover rose to 531 million shares worth 486 million pesos. —AFP "»*3 Nso (OOP) Abacus ConstructionAFP - 287 words
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Article276 2001-03-24 19 AFP □IBSE-40 +24J7 NEW Zealand's share market climbed 1.2 per cent yesterday, with most of the rise in late trade as investors juggled their portfolios to accommodate the departure of Fletcher Challenge Energy. The NZSE--40 index rose 24.87 points to 2,058.70 on turnover of NZ5138.6 million. —AFP ■rO 18AFP - 276 words
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Article534 2001-03-24 19 AFP NAD Ordinaries -4L5 INVESTOR pessimism over Australia's economic outlook yesterday wiped 1.3 per cent from the leading share price index, which tumbled to a nine-month low. The All Ordinaries Index fell 41.5 points to 3,094.3 while the SP/ASX 200 shed 43.5 points to close at 3,145.3. National turnoverAFP - 534 words
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Article, Illustration748 2001-03-24 19 AFP riser Index +0.83 THAI shares inched up 0.3 per cent yesterday as investors snapped up bargains after a strong rebound from intra-day lows on the US market, dealers said. The Stock Exchange of Thailand (SET) Index gained 0.83 of a point to finish at 290.25 and the SETAFP - 748 words
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Article, Illustration757 2001-03-24 19 AFP Composite Index +&29 INDONESIAN share prices closed 2.3 per cent up yesterday with sentiment buoyed by gains in some other regional markets, dealers said. Short-covering was also evident in major stocks in the afternoon session and this also gave a lift to the overall market, they said. TheAFP - 757 words
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Page 19 Advertisements
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Article5665 2001-03-24 20 SQXMAINBOARD romc, Ji? j*"*?*. *W N2 Cm *5 —22!— company 000 M »g*» to* Bwyer u/tm cw nt till wS MULTI-INDUSTRY 153 44 c AcmaSOc 47 -0.5 190 47 5 46 46 5 47 5 4 3 5 3 5 9 116 47 41 12 cAJI.arx.TKh 13 105,665 words
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Page 20 Advertisements
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Advertisement9 2001-03-24 20 Communication Tools Just imagine life without them. UJ Buylt.Sdk.FMlt.9 words
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TheArts
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Article, Illustration1464 2001-03-24 21 PARVATHI NAYAR - 'Chinese contemporary', not Hongkong, art is the best game on the island, as PARVATHI If A YAK finds out first-hand about the changing face of Chinese art and its buyers PARVATHI NAYAR IF geographical location is any indication like upmarket malls or trendy Soho the art1,464 words
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Article482 2001-03-24 21 THE art scene in Hongkong is thriving, but a common complaint is that local artists aren't getting enough support Most market players I spoke to there felt Hongkong artists don't have as developed a market as their mainland Chinese counterparts; barring some artists like Fang Zhaoling,482 words
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ART
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Article, Illustration1076 2001-03-24 22 AARON LYE - Despite logistics battles and the daunting barrier of the English language in Thailand, Chang Eng flew to Bangkok and took off. AARON LYE, who was there, reports AARON LYE IT'S generally common knowledge that the world's most famous pair of Siamese twins shared a common goal1,076 words
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Article, Illustration658 2001-03-24 22 Aaron Lye - The veteran painter and scuptor is holding an exhibition 'Body Lines' in coqjnnction with the launch of a new Fund By Aaron Lye BOTH painter and sculptor, Tay Chee Toh is certainly no stranger to the local arts scene. A full-time artist with658 words
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Article479 2001-03-24 22 Thai take on Chang Eng varied Audience gave standing ovation on first night SURE, Chang and Eng Finally returned hpme, but how were they received? Said Janet Low, chairperson of the Singapore Club of Thailand: "I saw it twice in a row. For a Singapore production, it far exceeded my479 words
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NewAsiaBizWoman
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Article, Illustration1174 2001-03-24 23 PARVATHI NAYAR - S'pore's roving ambassador to the Czech Republic, and former admin service officer turned art gallery owner and marketing consultant Jaya Mohideen manages it all, and sits for a chat with PARYATHI MAYAS PARVATHI NAYAR THE successful juggler, one suspects, effortlessly keeps those balls in the1,174 words
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Article, Illustration758 2001-03-24 23 Cheah Ui-Hoon - Sharp wit and ruddy innuendoes ruled the day By Cheah Ui-Hoon THE Malaccan Peranakan Association's play this week was a gem of a stage drama. Dah Sa-Chupak Tak Bo ley Sa-Gan-tang (A quart won't make a gallon), despite its daunting two-and-a-half758 words
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Article901 2001-03-24 24 Aaron Lye, Cheah Ui-Hoon - Compiled by Aaron Lye, Cheah Ui-Hoon MUSIC Mozart and Mahler in Song A performance by Chinese soprano Ying Huang, including Mahler's Fourth Symphony in G Major and Mozart's Overture to Idomeneo. Mar 24,8:15pm (with pre-concert talk at 7:lspm). Tickets priced at $11, $16, $21, $26 and $36, with901 words
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Article, Illustration129 2001-03-24 24 Aaron Lye - Bi Aaron Lye The buzz: British comedian Ross Noble performing here as part of the Singapore International Comedy Festival. Plot and players: A solo performer of stand-up comedy, Noble has numerous awards to his name, including the London Time Out Award, the Edinburgh Herald Angel Award and the Manchester129 words
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Article, Illustration636 2001-03-24 24 Cheah Ui-Hoon, Aaron Lye - Compiled by Cheah Ui-Hoon, Aaron Lye A bite-sized roundup of the weekly arts scene Inaugural Latin Festival for S'pore Latin music rocks! And in Singapore, it is set to fire up Fort Canning Green with the first Singapore Latin Festival next weekend when internationally-renowned groups such as Los Reyes,636 words
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Page 24 Miscellaneous
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Miscellaneous786 2001-03-24 24 ss rl d T o„ lgh Wiggles. SS Jack And Jill Ultraman Tiga. LL3O AM Star's Time Out. 840 Casper. mn vhi p! im vi I*2 anorama Dunla Headlines. 800 Hip-0 And Friends. 12 00 J™ VHI Po P U P Vi gent®. LO2 Medical Breakthrough. ®*30 Robbie And The786 words
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Miscellaneous307 2001-03-24 24 CRYPTIC CROSSWORD ACROSS (4) 1 Cut it and keep quiet (6) 5 One expected to succeed (4,8) 4 Broken car phone in Escort (8) 6 Hounds prepare to travel (4) 9 Sort of picture that's a topic for 7 Unfinished plans of rowdies (6) debate? (6) 8 Subordinate gives name307 words
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