The Business Times, 30 June 2001

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Total Pages: 20
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    16 1 THE BUSINESS TIMES MITA (P) 107/03/2001 SI NGAPORE Internet: http://business-times.asial .com.sg/ SATURDAY JUNE 30. 2001 85C
    16 words
  • Article
    Lock icon MARKET SUMMARY
    76 1 Dsn 1,***** (+18.86) CT-SBI •67.55 (+6.28) ST INDEX FOTTJBES 1,***** (+14.00) SHISnf FT7TDKES aoBjo(+i.io) STOCK MARKET INDICES Friday Change KLSE COMP 552.99 +403 NIKKEI 225 119».06_+289.17 HANG SENG 11,***** +***** SETINDEX *****.uschanged JAKARTA COMP ***** +9.15 MANILA COMP 1,410.07 -472 TAIPEI WPI 4,883.43 +***** SEOUL COMP 506.13 +11.86
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  • Article
    Lock icon FINANCE
    79 1 FOBEX KATES us$ ss L'SS (SS per USS) 1-822 £(l'SS/SS per 1406 1560 EUBO(USS/SS/E) 0.846 DM 2J11 1169 YEN 124J 6810 Ml 3.800 1086 HKS 7.800 4182 BAHT 4518 24M RUPIAH 11,380 6148 *S$ to tOO units PUKE BATES SINGAPORE* 5.80 KUALA LUMPUR 7.67 JAKARTA 39.00 BANQKOK 9.50 MANILA
    79 words
  • Article
    Lock icon MAS opens banking sector further
    775 1  -  Moves inclnde free entry to S$ wholesale market, more opening for QFBs By Angela Tan [SINGAPORE] The Monetary Authority of Singapore yesterday unveiled the second round of banking liberalisation, which will free entry to the Sing dollar wholesale market and intensify retail competition by giving
    775 words
  • Article, Illustration
    Lock icon White knight UOB rides to OUB's rescue
    821 1  -  Offer of $4.02 cash, 0.52 newUOB share for one OUB share By Siow Li Sen [SINGAPORE] United Overseas Bank (UOB) yesterday rode in as the white knight for Overseas Union Bank (OUB) making a $10 billion bid for the bank exactly one week
    ARTHUR LEE  -  821 words
  • Article
    Lock icon UOB seen opening $1 lower at $10.50 on Monday
    402 1  -  Share traders expect a reprise of Sing Tel, DBS price moves By R Sivanithy [SINGAPORE] Traders expect the shares of United Overseas Bank (UOB) to open on Monday at around $10.50 down a full dollar, or 8.7 per cent, on the
    402 words
  • Article
    Lock icon DBS has lost half the battle
    776 1  -  COMMENTARY Unlike UOB, DBS has fumbled in its bid for OUB, says Lee Ban Shib Lee Han Shih Regardless whether DBS Group Holdings can win the bidding war for Overseas Union Bank, it has already lost a battle on another front that of investor
    776 words
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  • BANK mergers
    • Article
      Lock icon Will DBS back off or up the ante in OUB tussle?
      672 2  -  Counter-bid with bigger element to sweeten the deal likely, says banker By Conrad Raj, Loh Hui Yin ALL eyes now are on whether DBS Group will back off or up the ante in its quest for Overseas Union Bank
      672 words
    • Article, Illustration
      Lock icon Lure of strong emotional attachments
      577 2  -  UOB's Wee Cho Taw reveals how the OUB bid was pat together By Conrad Raj AFTER DBS Holdings surprised the market with its unsolicited bid for Overseas Union Bank, United Overseas Bank swung swiftly into action with investment bank Merrill Lynch (Singapore). UOB had already
      ARTHUR LEE  -  577 words
    • Article, Illustration
      Lock icon When the Chinese families close ranks
      764 2  -  quak hiang whai CALL it the Chinese emigrant mentality. In the last few decades, whenever their interests were perceived to have been threatened, Chinese businessmen here closed ranks no matter what their dialect backgrounds are. We saw them resist when the government merged the
      764 words
    • Article
      Lock icon Combined entity will be a premier bank in region: Wee
      702 2 WE reproduce here the opening remarks by Wee Cho Yaw, UOB Group chairman and CEO, at a joint press conference held with OUB yesterday. "Good afternoon, ladies and gentlemen. I am pleased to announce that United Overseas Bank is making
      702 words
    • Article
      Lock icon UOB-OUB union set to become big player in M'sia
      452 2  -  It will be the 4th biggest foreign bank, with RMl7.4b assets From Eddie Toh in Kuala Lumpur THE likely union of United Overseas Bank and Overseas Union Bank in Singapore will give rise to the fourth largest foreign bank in Malaysia.
      452 words
    • Article
      Lock icon DBS raised offer after original bid of $9 a share was rejected: source
      347 2  -  By Ling Su Ann DBS Bank originally offered the equivalent of $9 a share for Overseas Union Bank, but upped the ante to $9.50 after its first offer was turned down. Sources said DBS chairman S Dhanabalan
      347 words
    • Article
      Lock icon One online poll that's worth banking on
      237 2 POLLS are a great way to get consumer feedback, especially if they are anonymous. If you want to know what customers really feel, let them remain incognito and the sentiments flow freely. Take what happened yesterday on The Business Times Online site. Surfers
      237 words
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  • BANK liberalisation
    • Article, Illustration
      Lock icon Building world-class banks
      4503 3 We reproduce below extracts of the speech last night by MAS chairman Lee Hsien Loong at the annual dinner of the Association of Banks in Singapore TWO years ago, MAS embarked on the first phase of a programme to liberalise the banking industry. The aim was to
      CHRIS LOH  -  4,503 words
    • Article, Illustration
      Lock icon Foreign banks cheer debit services, branch incentives
      563 4  -  QFBs can establish up to 15 locations; provide CPFIS accounts; negotiate to access Nets By Ling Su Ann, Serena Ng FOREIGN bankers yesterday were pleased with the latest liberalisation measures from the Monetary Authority of Singapore. For retail banking, the MAS said it
      CHRIS LOH  -  563 words
    • Article
      Lock icon Analysts say easing of rules on ATMs, Eftpos significant
      663 4  -  By Ven Sreenivasan ANALYSTS are calling the latest round of banking liberalisation a mini "Big Bang". In his keynote address to the Association of Banks last night. Deputy Prime Minister Lee Hsien Loong unveiled a slew of measures he described as
      663 words
    • Article
      Lock icon MTI considering Competition Act: BG Lee
      267 4  -  By, Angela Tan THE Ministry of Trade and Industry is considering a Competition Act that will help prevent abuse of market power by dominant banks. Deputy Prime Minister and Monetary Authority of Singapore (MAS) chairman Lee Hsien Loong said last night. "The government will
      267 words
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  • Article
    Lock icon BT SHARE information service
    4592 4 •tot Mm EM Lankom NTS 30-Mar P 110.581 37.73 7L94 24.5 Sate TV LY TV LY LC Dev S Mar I 4.469 2.633 0.64 0.36 Cmmn urn ($m) (Sm) (ct») (cts) Lee Hwa 23-Mar P 1.134 4.485 1.09 4.83 Laong Htn 21-Mar P 3.665L 1.845L 2.64.
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  • SINGAPORE companies
    • Article
      Lock icon SingTel clears major Aussie defence hurdle in Optus bid
      433 5  -  Both telcos, defence dept sign contract to safeguard sensitive data By David Boey SINGAPORE Telecommunications Ltd has cleared a major hurdle in its Asl4 billion (Ssl3 billion) bid for Australian telco, Cable and Wireless Optus. This follows the signing of a
      433 words
    • Article
      Lock icon Better margins help Thakral trim loss to $98.8m
      349 5  -  Debt restructnringplan will include sale of non-core assets By Liew Hanqing MAINBOARD-LISTED Thakral Corporation yesterday said it trimmed its full-year losses by 43 per cent to $98.8 million. Turnover slid 21 per cent to $584.9 million and loss per share came to
      349 words
    • Article
      Lock icon FJ Benjamin suspends its shares
      269 5  -  Rachel Ong MAINBOARD-LISTED FJ Benjamin yesterday requested a suspension of their shares pending an announcement. The niche retailer of leading international fashion brands, accessories and timepieces has been going through a rough patch recently, with the scaling down of its operations in Hong Kong and
      269 words
    • Article, Illustration
      Lock icon NOL unit withdraws IPO due to share slump
      689 5  -  Beth Jinks NEPTUNE Orient Lines (NOL) tanker subsidiary American Eagles Tankers (AET) has withdrawn its planned initial public offering because of a sudden slump in the share prices of comparable companies. The stock prices of other listed tanker companies have sunk as
      689 words
  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      721 5 m WILLAS-ARRAY WILLAS-ARRAY ELECTRONICS (HOLDINGS) LIMITED (Incorporated in Bermuda on 3 August 2000) Invitation in respect of 53,500,000 new ordinary shares of HK$O.2O each comprising:(1) 3,000,000 Offer Shares at 550.28 for each Offer Share by way of public offer; and (2) 50,500,000 Placement Shares by way of placement comprising:(i) 45,150,000
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    • Advertisement
      Lock icon Page 5 Advertisements Column 2
      199 5 AMERICAN EAGLE TANKERS INC. LIMITED (Incorporated in Bermuda on January 13, 1994) WITHDRAWAL OF PREFERENTIAL OFFERING OF COMMON SHARES ("SHARES") IN THE FORM OF SINGAPORE DEPOSITARY RECEIPTS ("SDRs") The Board of Directors of American Eagle Tankers Inc. Limited (the "Company") wishes to inform all eligible shareholders ("Eligible NOL Shareholders") of
      199 words
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  • SINGAPORE markets
    • Article, Illustration
      Lock icon 'Window dressing' lifts STI 18 points in subdued trade
      608 6  -  STOCKS r. sivanittiy HERE'S a hypothesis: "A market in which most of the activity in small caps is generated by stockists trading among themselves will sooner or later prove unable to sustain interest or at least price rises." Here's another: "On
      608 words
    • Article, Illustration
      Lock icon Teledata wrt: tread with caution
      166 6  -  WARRANT WATCH By R Sivanithy TELEDATA shares surged 82 per cent on Thursday in an astounding speculative burst. To queries from the Singapore Exchange, Teledata replied it did not know of any reason for the rise. Yesterday, it fell back 5.5 cents to 40 cents.
      166 words
    • Article, Illustration
      Lock icon Beyonics: range-bound in near term
      250 6  -  HOT STOCK By Wong Wei Kong SHARES of Beyonics Technology were actively traded yesterday, lifting the stock half a cent to 24.5 cents. Volume came to 8.11 million shares, compared with the 10-day traded average of 15.3 million units. The share hit an intraday high
      250 words
    • Article, Illustration
      Lock icon Greenback soars on rate cut, Wall Street rally
      520 6  -  CURRENCIES Pound, Aussie dollar and NZ dollar hnrt by yield-play considerations larry wee THE greenback soared in US trading on Thursday as Wall Street exploded in reaction to a cut in US interest rates. The euro, Australian dollar and New Zealand dollar
      Source: Reuters  -  520 words
    • Article
      Lock icon Untitled
      337 6 Stock* Votow Keppel Capital 21,924,000 SingTel 15c 17,101,000 Keppel Cap W*****0 16.662,000 Omni Ind 10c 16,393,000 PNEIndlOc 13,493,000 Tianjin Zhong 12,325,000 ST Engg 10c 11,944,000 UOLW*****2 10,484,000 Strike Er«g 5c 10,376,000 FuYuMfglOc 10,365,000 Stocks DBSGrp 110,619,119 Keppel Capital 76,828,000 OCBC 69,955.688 Omni Ind 10c 66,315,462 SingTel 15c 32,260,688 ST Engg
      337 words
  • Article
    Lock icon UNIT TRUSTS & FUNDS
    3205 6 UNIT TRUSTS FUNDS Aberdeen Asset Mgt Asia Ltd Aberdeen Select Portfolio: Global MNC Fd 0.734 0.772 Global Technology Fd!** 0 640 0.673 UK Blue Chip Fd!** 0.739 0.777 American Opport Fd 0.827 0.869 Cont Euro Eqty Fd!" 0 995 1.045 Japan Eqty Fd!** 1.197 1.258 Asian Fixed Income Fd 1.115
    3,205 words
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      4605 7 Morrill Lynch MERRILL LYNCH (SINGAPORE) PTE. LTD. (Incorporated in the Republic of Singapore) for and on behalf of UNITED OVERSEAS BANK LIMITED (Incorporated m the Republic of Singapore) VOLUNTARY CONDITIONAL OFFER FOR OVERSEAS UNION BANK LIMITED (Incorporated in the Republic of Singapore) 1. Introduction 14. Next Steps Meml Lynch (Singapore)
      4,605 words
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  • SINGAPORE news
    • Article, Illustration
      Lock icon Biomedical hub: Create, own, exploit is way to go
      511 8  -  NSTB chief Philip Yeo points oat the value of the economic outpnt of science By Chuang Peck Ming THE masterplan for Singapore's ambition in the biomedical sciences is summed up in three letters COE. Not certificates of entitlement which car owners
      511 words
    • Article
      Lock icon More cost-cutting at HP to save jobs
      395 8  -  Voluntary pay cnt of at least 10% till Oct among measures By Tang Weng Fai THE Singapore operations of Hewlett-Packard Co (HP) are the latest to be hit by the technology squeeze, with the company announcing fresh measures to cut costs. Staff have
      395 words
    • Article
      Lock icon Hitachi to close factory, retrench 550 and shift production abroad
      300 8  -  By David Boey ABOUT 550 people will lose their jobs when Japan-based Hitachi shuts its television and vacuum cleaner factory at Bedok at end-September to shift production offshore. TV manufacturing is moving to China and Indonesia, while vacuum cleaners will
      300 words
    • Article
      Lock icon SGX unveils 5-year govt bond futures
      392 8  -  By Ling Su Ann THE Singapore Exchange yesterday launched a fiveyear Singapore government bond futures contract to meet the hedging needs of market participants. The contract will be traded in a notional size of $100,000 and is based on a basket of Singapore Government
      392 words
    • Article
      Lock icon Jurong to have 650-bed hospital by 2006
      256 8  -  By' Trina Foo SINGAPOREANS living in the west can look forward to affordable healthcare when the 650-bed Jurong General Hospital is completed in 2006. Plans for the new hospital, which will replace the old Alexandra Hospital, are already under way. The planning committee
      256 words
    • Article, Illustration
      Lock icon Slow growth will check inflation
      258 8  -  By Chuang Peck Ming SLOW growth should keep Singapore's inflation in check this year, though the consumer price index (CPI) could breach 2 per cent in the coming months, says Salomon Smith Barney. "We continue to believe that slower growth will prevail over inflationary pressures,"
      Source: Salomon Smith Barrey  -  258 words
    • Article
      Lock icon Property fund buys 20 Avalon units for $44m
      266 9  -  PROPERTY FOCUS Deal works ont to $1,200 psf average, down from $1,450 psf for nnits sold earlier By Kalpana Rashiwala IP PROPERTY Fund Asia, jointly managed by Capita Land and ING Real Estate, has bought 20 units at the freehold Avalon condo
      266 words
    • Article
      Lock icon Value of properties auctioned off doubles in Q2
      515 9  -  Auctioneers say it marks increased confidence in market By Vince Chong THE value of properties sold by auction more than doubled in the second-quarter to $$57.62 million, from $24.66 million in the first quarter, figures from Jones Lang LaSalle showed. According to
      515 words
    • Article
      Lock icon HDB owners mainstay for private homes: NUS
      261 9 HOUSING and Development Board flat upgraders formed the bulk of demand for private housing, but many would rather stay put even if they can afford to upgrade, the National University of Singapore said. From 1998 to early 1999, HDB upgraders accounted for over
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    • Article
      Lock icon Resale flats near expressways sold at lower prices, NUS study shows
      345 9  -  By Andrea Tan OWNERS of public resale flats near major expressways not only had a harder time trying to find buyers but also had to settle for lower prices, according to a National University of Singapore study. HDB flats
      345 words
    • Article
      Lock icon No curbs on trading of KCH shares
      165 9  -  MAiLirrn Vivien Chan Company Secretary United Overseas Bank Ltd WE refer to: a) A Reuters report dated June 28, which quoted Tang Wee Loke, managing director of UOB-Kay Hian, as saying that UOB had put a restriction on the trading of Keppel Capital
      165 words
    • Article
      Lock icon Basement extension was concealed
      119 9  -  Lim Wee Leng Corporate Relations Officer Building and Construction Authority I REFER to your report "Abetting planning offence: architect guilty" (BT, June 29). The report said that "the Building and Construction Authority (BCA) granted the premises Temporary Occupation Permit (TOP) and Certificate of Statutory Completion without
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  • Page 8 Advertisements
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      Lock icon Page 8 Advertisements Column 1
      612 8 1.1-31.12.2000 1.1 -31.12.1999 Assets 31.12.2000 31.12.1999 I? U L° i n 5 l !r o m in Euro m in Euro m Interest received 18,811 15,150 Cash reserve 7,895 8.952 Interest paid 15,295 11,943 Claims on banks 74,654 50,040 Net interest income 3,516 3,207 7 Claims on customers 224,837 203
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  • Page 9 Advertisements
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      Lock icon Page 9 Advertisements Column 1
      322 9 Lfj.l .T J I Capital Holdings I Keppel Capital Holdings Ltd I (Incorporated in the Republic of Singapore) H ANNOUNCEMENT I Keppel Capital Holdings Ltd (KCH) refers to the voluntary conditional cash offers for KCH I by OCBC to KCH shareholders and warrantholders (the "OCBC Offers"). I We wish to
      322 words
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      Lock icon Page 9 Advertisements Column 2
      751 9 sJBUBS Financial Report 2000 Consoltdatad totonc* Sh—t at 31 Pfmbw 2000 Cgwgoljdgtgd Incoma Statfwnt 2000 CHf million 2000 1999 CHf million 2000 1999 Assets Operating income Cash and balances with central banks 2,979 5,073 Interest income 51,745 35.604 Money market paper 64.454 69.717 Interest expense (43.615) (29.695) Due from banks
      751 words
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      Lock icon Page 10 Advertisements Column 1
      39 10 RT!iVASfnflffi Administered by: Supported by: Sponsored by: i ill kn n A lIP JAPAN ELECTRICAL SAFETY JIJxK /A DCD ytD ENVIRONMENT TECHNOLOGY l fl "J f 1 I JIJ WW, tj LABORATORIES I TVV SINGAPORE Coiwumere Awociation (.OrpOMtlOO RHeillland
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  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      278 11 I Congratulations on I Congratulations on I the 10th Anniversary of the I the 10th Anniversary of the I Singapore Consumer Protection I Singapore Consumer Protection I I (Safety Requirements) I (Safety Requirements) I I Registration Scheme I Registration Scheme I I©l I I JET I JOA I Ok JAPAN
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  • REGIONAL news
    • Article, Illustration
      Lock icon TRI shares soar 16% on debt restructuring
      455 12 KUALA LUMPUR Plan will help telco focus on core business, bnt key questions about its implementation remain INVESTORS sent shares in Technology Resources Industries Bhd soaring yesterday on news of the mobile operator's sweeping debt restructuring plan, despite uncertainties about how it will
      FILE PHOTO  -  455 words
    • Article
      Lock icon Indonesian island to turn biotech lab
      159 12 AFP [JAKARTA] An Indonesian official has got the green light from the government to turn one of the archipelago's 13,000 islands into a giant regional biotech lab, a report said yesterday. The island is Galang, a 300-square-kilometre almost-deserted island near Singapore which served as
      AFP  -  159 words
    • Article
      Lock icon Ibra may miss BCA sale target
      438 12 JAKARTA It was expected to announce the sale of the bank at the end of this month Bloomberg Reuters INDONESIA'S bank rescue agency may miss an end-June target it set for announcing the sale of PT Bank Central Asia (BCA), a lender taken over
      Bloomberg; Reuters  -  438 words
    • NOTE Book
      • Article
        Lock icon Putra defaults on RM342m payment
        104 12 AFX-Asia [KUALA LUMPUR] Renong Bhd said yesterday wholly-owned unit Projek Usahasama Transit Ringan Automatik Sdn Bhd (Putra) has defaulted on servicing the outstanding interest of RM341.7 million (Ssl64 million) on its RM2 billion loans. In a statement, Renong said Putra had earlier asked its creditors
        AFX-Asia  -  104 words
      • Article
        Lock icon UEM denies it is in talks to go private
        117 12 Dow Jones Newswires [KUALA LUMPUR] United Engineers (Malaysia) Bhd yesterday said it is not in talks with its former executive vice-chairman Halim Saad to take the company private. "UEM confirms that at this point in time, UEM is not involved in
        Dow Jones Newswires  -  117 words
      • Article
        Lock icon Thai exports up 6.8% in May
        115 12 Reuters [BANGKOK] The Bank of Thailand (BOT) said yesterday that the country's exports rose 6.8 per cent year-on-year in May against a 7.3 per cent decline in April. The increase was the highest year-on-year rise so far this year, but total exports in the
        Reuters  -  115 words
      • Article
        Lock icon Thai Telephone restructures debt
        69 12 Bloomberg [BANGKOK] Thai Telephone Telecommunications Pel, the largest phone operator in rural Thailand, said it signed an agreement with more than 40 creditors to restructure 40.6 billion baht (Ssl.6 billion) of debt. Terms of the plan, which calls for some payments to be pushed back to
        Bloomberg  -  69 words
      • Article
        Lock icon Taiwan cuts growth forecast to 4%
        84 12 AFP [TAIPEI] Taiwan's central bank has revised downward its forecast of the island's economic growth this year to 4 per cent from 5.18 per cent, officials said yesterday. Central bank governor Perng Fai-nan said the bank's latest forecast was close to the estimate of
        AFP  -  84 words
    • Article, Illustration
      Lock icon Cathay pilot strike looms as talks collapse
      684 13  -  Airline says onion most accept pay offer by today; pilots say any action will start on Tuesday From Audrey Tan in Hong Kong HONGKONG'S air transportation may be plunged into chaos next Tuesday, after talks broke down between Cathay Pacific Airways and its
      AP  -  684 words
    • Article
      Lock icon Thaksin vows to keep watch on state finances
      329 13 BANGKOK AP THAI Prime Minister Thaksin Shinawatra vowed to keep a careful watch on state finances after Parliament passed yesterday the first reading of a Budget that allows for a 3.5 per cent deficit of the gross domestic product. The House of
      AP  -  329 words
    • Article
      Lock icon JP Morgan leads Asia's M&A advisers list
      526 13 HONGKONG Value of deals in HI fail* by a slower one third, against 45% globally Bloomberg JP MORGAN Chase Co handled most of Asia's mergers and acquisitions in the first half, beating Morgan Stanley Dean Witter Co and ÜBS Warburg in a market
      Bloomberg  -  526 words
    • Article
      Lock icon India Q1 economic growth slows to 3.8%
      282 13 NEW DELHI Bloomberg INDIA'S economy grew at the slowest pace in almost three years in the first quarter as a two-year drought depressed rural incomes, curbing demand for industrial goods. The economy expanded 3.8 per cent from a year earlier in the fiscal
      Bloomberg  -  282 words
    • Article, Illustration
      Lock icon One night in East Java
      1076 14  -  WRITER'S JOURNAL Did Blitar host a celebration or a political farce? karim raslan THE search for the meaning of things has assumed an urgency these days as people dash around to determine why, when and how. Progress means we are no longer satisfied with doubt
      1,076 words
  • FINANCE
    • Article
      Lock icon STI July contract gains 1.3%
      275 12  -  SGZ Derivatives Trading Report ST Index/MSCUTpore Index Daniel Wong Refco Singapore THE Singapore stock market rose to a six-week high yesterday. The benchmark Straits Times Index climbed 18.86 points, or 1.1 per cent, to close at 1,726.5 points. Gainers led losers 26 to 15, while
      275 words
    • Article
      Lock icon Futures rebound along with stocks
      227 12  -  MSCI Taiwan Index Daniel Wong Refco Singapore TAIWAN stocks saw a revival yesterday. Posting its biggest gain in three weeks, the MSCI Taiwan Stock Index added 7.15 points, or 3.24 per cent, to end at 227.57, with turnover at 560.13 million. Gainers overwhelmed losers 61
      227 words
    • Article
      Lock icon CURRENCY REPORT
      231 12 London Reuters THE yen rose almost half a per cent against the US dollar yesterday, rebounding from 10-week lows near 125 set a day ago, after Japanese officials suggested they did not want the yen to weaken fast. The yen, however, steadied against the euro, backtracking from earlier
      Reuters  -  231 words
    • Article, Illustration
      Lock icon Untitled
      1225 12 nrrBKBAMM CROSS KATBS Jun29 *S C{ >■> Pro Fir 9m HK$ Mteigll Y- Won Mi HZSNkfa Nw SS land Sir «T$ WtHwi US$ Australia aTTI 4.201 0.596 1923 1170 1949 23X* 57X11 0X29 6.586 1924 1254 32.4# 26.533 0.922 4084 0.910 17.440 22.920 0260 0.506 Canada 1297 5.450 0.774 5.089
      1,225 words
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  • Article
    Lock icon COMMODITIES
    1806 13 SICOM FUTURES Jun 29 RUBBER (Mures ctaanfl as *5J0pm) RSS1CONTRACT CS CMts/k?) ClOM VotaM Ope* Mouth HW| Lw Sett (towns) hrterest Jul 01 114.50 Aug 01 112.50 Sep 01 113.00 250 Oct/Dec 01 114.75 RSS 3 CONTRACT (US cmtsAg) VotaM Open Mowtfc jUgfe Low Sett (tonnes) Interest Jul 01
    1,806 words
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  • Article
    Lock icon STOCKS asia
    7604 14 HONG KONG vei Jun 29 HK$ COOP) AcrossAsia Multimedia 1.90 -0.05 7600 Alpha General 0.05 unch ***** Amoy Prop 8.95 unch 3613 Ananda Wing On 0.15 0.01 *****0 Angang N*w Steel M 1.38 -0.03 ***** Anhui Conch H 2.25 -0.03 3726 Anhui Expressway M 1.65 -0.01 3964 Arcontech
    7,604 words
  • Page 14 Advertisements
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      Lock icon Page 14 Advertisements Column 1
      568 14 NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298 I IN THE MATTER OF THE COMPANIES ACT CHAPTER 50 EXPLORER SHIPPING PTE LTD MEMBERS VOLUNTARY LIQUIDATION At an Extraordinary General Meeting of the Company convened and held at 200 Cantonment Road #14-02 Southpoint Singapore *****3 on Friday. 29
      568 words
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      Lock icon Page 14 Advertisements Column 2
      428 14 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 FRANKLIN SHIPPING PTE LTD MEMBERS VOLUNTARY LIQUIDATION At an Extraordinary General Meeting of the Company convened and held at 200 Cantonment Road #14-02 Southpoint Singapore *****3 on Friday. 29 June 2001, the following resolutions were duly passed 1 SPECIAL RESOLUTION WINDING
      428 words
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      Lock icon Page 14 Advertisements Column 3
      722 14 p CHINA EVERBRIGHT PACIFIC LIMITED (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Company will be held at Marina Mandarin Singapore, Libra/Gemini Room, Level 1, Raffles Boulevard, Marina Square, Singapore *****4 on 23 July 2001 at
      722 words
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      461 14 IN THt MATTER OF THE COMPANIES ACT. CAP. SO AND IN THE MATTER OF OTTIMO SHOES SINGAPORE PTE LTD (IN CREDITORS' VOLUNTARY LIQUIDATION) At on Eitraordinory General Meeting of the abovenomed Company, held at 3 Mirth Rood *****. HMC luUm. Singapore *****4 an 22nd June 2001 the following resolutions were
      461 words
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      Lock icon Page 14 Advertisements Column 5
      25 14 aJ y JTV^ Th« Straits Classified wtwn W virtual Iy t very f J VffiKW IS at your gOr* J flmnmrtln* V 4 Tirxjenips. v
      25 words
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  • WORLD news
    • Article
      Lock icon US Q1 growth slower than thought
      717 15 WASHINGTON GDP rose just 1.2%, down from a 1.3% estimate previously, as companies run down inventories AP Bloomberg THE US economy limped along in the first three months of the year at a pace slightly slower than what the government had previously thought. The
      AP; Bloomberg  -  717 words
    • Article
      Lock icon Changes to US GDP statistics from July
      177 15 Reuters [WASHINGTON] Changes in the way the US government calculates gross domestic product are designed to give a clearer picture of what firms are spending on computer software and telecommunications equipment, the government said yesterday. The changes are to take effect in the
      Reuters  -  177 words
    • WORLD Watch
      • Article
        Lock icon UK insurance firm to axe 1.000 jobs
        96 15 AFP [LONDON] Foundering British insurance company Independent Insurance is to axe I,ooojobs—half its staff as liquidators pore over the company to see what is salvageable, auditors said yesterday. Two weeks after Independent closed its doors to new business amid reports of "unquantiflable" losses,
        AFP  -  96 words
      • Article
        Lock icon Euro decline hits Coca-Cola's earnings
        92 15 Bloomberg [ATLANTA] Coca-Cola Co, the largest soft-drink maker, said this year's earnings may be reduced another 2 US cents a share by the declining value of the euro and other currencies against the dollar. Profit will be cut by 4 to 5 per cent, spokesman
        Bloomberg  -  92 words
      • Article
        Lock icon US$3.25b bond offering from Abbott
        129 15 Dow Jones [NEW YORK] In what will probably be the largest investment-grade bond offering since Telus Corp priced US$3.3 billion in May, Abbott Laboratories launched U553.25 billion of debt in two parts on Thursday. The secondary market remained quiet, said investors, with spreads fluctuating between
        Dow Jones  -  129 words
      • Article
        Lock icon US forces linked to Okinawa rape
        149 15 AFP [TOKYO] The US military on Okinawa were yesterday linked to the rape of a local woman in the latest in a series of incidents that have increased hostility to the forces' presence on the island and strained US-Japan relations. The rape, which took
        AFP  -  149 words
    • Article, Illustration
      Lock icon Energy prices bear watching: Greenspan
      387 15 CHICAGO Oil price spikes preceded last 3 US recessions, he notes Reuters FEDERAL Reserve chairman Alan Greenspan said on Thursday he hoped current short-term energy supply problems in the US can be settled without further damage to the economy, but said more attention must be
      Reuters; AP  -  387 words
    • Article
      Lock icon No Fed back-up for dollarisation: Greenspan
      168 15 AFP [CHICAGO] US Federal Reserve chairman Alan Greenspan has warned countries which might be thinking of swapping their currency for the US dollar that they could not rely on the US central bank for back-up. "Dollarisation is and has to be an activity which
      AFP  -  168 words
    • Article
      Lock icon Fed voted 9-1 to cut rates at May 15 meeting
      471 15 WASHINGTON Bat some were already uneasy over fast pace of cots Reuters SOME Federal Reserve policymakers were already uneasy in May at the aggressiveness of the US central bank's inter-est-rate cutting campaign, but only one dissented from the decision to
      Reuters  -  471 words
    • Article, Illustration
      Lock icon Appeals court overturns Microsoft split-up ruling
      689 16  -  MICROSOFT CASE But analysts say ruling is not decisive victory for company From Catherine Ong in New York MICROSOFT Corp escaped a corporate death penalty when a US federal appeals court on Thursday overturned an order to split up the company,, but the latest
      AFP  -  689 words
    • Article
      Lock icon 360 networks files for bankruptcy protection in US, Canada
      264 16 NEW YORK Bloomberg 360 networks Inc, which planned to build a global fibre-optic telecommunications network, filed for bankruptcy protection in the US and Canada a day after firing 44 per cent of its workforce to stem losses. The company, led by
      Bloomberg  -  264 words
    • Article
      Lock icon Japan's jobless rate hits record 4.9% in May
      465 16 TOKYO Stronger signs of recession as core CPI prices make largest drop ever in same month Reuters JAPAN'S unemployment rate soared to a record high and core nationwide consumer prices marked their largest drop on record in May, government data showed yesterday,
      Reuters  -  465 words
    • Article
      Lock icon GE fails in last ditch effort to get EU nod for Honeywell bid
      325 16 BRUSSELS AP GENERAL Electric's US$4l billion bid for Honeywell International looked doomed again yesterday after a late offer aimed at satisfying European Union antitrust concern was reportedly turned down by regulators. EU Commission antitrust officials told GE
      AP  -  325 words
    • Article, Illustration
      Lock icon Energy conservation: Bush leads by example
      263 17 WASHINGTON White House, federal agencies to initiate energy saving measures AP US President George W Bush is dimming the lights at the White House and initiating other energy-sav-ing measures throughout the federal government, part of an effort to lead by example on conservation. The
      AP  -  263 words
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  • Article
    Lock icon SGX clob
    2617 16 BOMBS WARRANTS Jun29 m mi rw IQ*T U M List M Bay lnHnll kw% mm* Um tar Mk 1Mb las C»)T Mi ««r- rWO la» B»|*r M» W» I—D Mil W» (%> 6aart»2 UR 35 29 I ASTI ******1 34 855 35 29 34 34.5 26.4 1 16
    2,617 words
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  • Article
    Lock icon STOCKS sgx
    8680 17 SOXMAINBOARD Gr <M mm S2-Wk Last Vd Day Latt Qvoto Mv Mv TW IM Cap A*1 HWI Law Om»a»y Sate w- (HO| H0i law l»» i<fc CV Wf W Mn MULTI-INDUSTRY 143 3S c Acrrva 50c 42 +15 356 43 41 41.5 42 0.5 19 9 0 6
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  • MOTORING
    • Article, Illustration
      Lock icon Who wants to be a millionaire?
      1259 18  -  Make that a multi-millionaire, if you desire a Rolls-Royce Corniche or Bentley Arnage Red Label. If not, come along for a spin with Christopher tam CHRISTOPHER TAN A CAR like the Rolls-Royce Corniche hardly warrants a review. For one, there aren't many cars in
      1,259 words
    • Article
      Lock icon Don't mix petrol grades, for engine efficiency
      195 18 I HAVE a question regarding petrol grades. I use Caltex 98 octane, but when I drive up to Malaysia, the closest I can find from Caltex is 97 octane. I drive a Mitsubishi Galant and the manual states that the minimum octane level
      195 words
    • BUMPER to BUMPER
      • Article
        Lock icon Individuals lose cut in COE open bidding
        90 18 INDIVIDUAL bidders lost out to motor traders in the first open bidding tender for COEs. At a briefing yesterday, the Land Transport Authority revealed that the first open exercise last week attracted an even split of individual and third-party bidders, presumably motor traders.
        90 words
      • Article
        Lock icon War of words between VW and Audi
        152 18 ALL'S not well between Volkswagen and 99 per cent-owned Audi. A war of words has been raging between the two sides, sparked off by VW chairman Ferdinand Piech's open criticism of Audi's "lack of dynamism". Mr Piech also reportedly described Audi as "a
        152 words
      • Article
        Lock icon GM names Asian passenger car Cruze
        133 18 GENERAL Motors has named its first passenger vehicle designed, made in and made for Asia. The car, formerly known as YGM-1, will be called Craze and sold in Japan under the Chevrolet brand. Production of the compact is set to begin in the fall
        133 words
      • Article
        Lock icon US$570m extra losses for Bridgestone
        120 18 BRIDGESTONE, Japan's leading tyre maker, is to face an additional US$57O million of losses as it attempts to deal with repercussions of a massive 6.5 million tyre recall at its Firestone unit in the US. Part of the extra costs was triggered by a decision
        120 words
      • Article
        Lock icon Volvo to spend US$8b on new models
        141 18 FORD-OWNED Volvo Cars will spend up to US$B billion on new models over the next five years, in the biggest product renewal in its history. Volvo president and chief executive Hans-Olov Olsson has been quoted by the Financial Times as saying the product
        141 words
      • Article, Illustration
        Lock icon First Kia commercial model in town
        65 18 CYCLE Carriage has brought in its first Kia commercial model (above). The 2.7-litre Pregio is said to be bigger, faster, smoother and better-equipped than rivals in the same class. It has an aerodynamic design that breaks away from the traditional boxy shapes of commercial
        65 words
      • Article
        Lock icon Audi to display direct-injection engines
        139 18  -  Compiled by Christopher Tan AUDI will showcase its version of direct-injection engines at the Frankfurt Motor Show in September. These engines, versions of which have been used by Japanese manufacturers (notably Mitsubishi), will go into new Audis slated for production in the first half of
        139 words
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      Lock icon Page 18 Advertisements Column 1
      85 18 If you have month will win something motor- $100 worth of related to get off \/\/i i vouchers. Prizes your chest, write to sponsored by us.We welcome ITTI £3 tt 6 STAMFORD I feedback and TYRES suggestions from Singapore s only readers. listed tyre and The AUTOMOBILE ASSOCIATION OF auto
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  • BIZ woman
    • Article, Illustration
      Lock icon Reaching out to people
      1101 19  -  PABVATHI NATAS catches up with BT journalist cum author Tan Hwee Hwee, who's drawing on her experiences in Singapore, New York and Oxford for her second book PARVATHINAYAR TAN Hwee Hwee remembers growing up thinking the novelist's life was as exciting as Sharon Stone's Catherine Trammell
      RICHARD CHNG  -  1,101 words
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  • Page 19 Miscellaneous
    • Miscellaneous
      Lock icon Page 19 Miscellaneous Column 1
      302 19 CRYPTIC CROSSWORD I" i i u~--ACROSS 5 Mathematical term that involves 1 Drinks on the house for inde- 00 fractlons pendent type (4, 6) 7 Posh schoolboy to get it in the 6 Protest as 10 is reorganised (4) neck? Just the opposite! (4, 6) 9 Officially cease to control
      302 words
  • The Arts
    • Article, Illustration
      Lock icon MUSIC Wide-ranging, if somewhat inconsistent, fare
      624 19  -  COVER STORY -By Geoffrey Eu IT may have been musical mayhem to some ears, sweet synchronicity to others, but one way or another, classical and contemporary concerts at the recently-concluded arts festival elicited powerful responses from audiences that were eager to tune in to
      FILE PHOTO  -  624 words
    • Article
      Lock icon MUSIC THEATRE Some of the Fest's best and worst
      287 19  -  -By Tan Hwee Hwee MUSIC Theatre gave us some of the Fest's best and worst offerings. All of them presented dramas without dialogue, creating narratives without using words. Canada's Les Deux Mondes impressed with Leitmotiv, telling a moving tale of war-torn
      287 words
    • Article, Illustration
      Lock icon Not quite Festival'd out
      1381 20  -  Although this year's Singapore Arts Festival has room for refinement PARVATHIMAYAR says the interesting mix of offerings coupled with the new directions laid out last year will keep the Fest running for at least the next five years < PARYATHI NAYAR ESTivALDour describes the state of
      FILE PHOTO  -  1,381 words
    • Article, Illustration
      Lock icon DANCE Moving closer to theatre in staging terms
      397 20  -  -By Cheah Ui-Hoon MAKING something of movement, to use it to convey and evoke deeper emotions and thoughts that was the thrust of this year's dance segment which saw a good mix of Western and Asian fare. And the look of dance
      397 words
    • Article, Illustration
      Lock icon THEATRE In need of bold ways of looking at narrative
      577 20  -  Parvathi Nayar NARRATIVE was the weakest component of most plays this year. This was apparent even in a piece like Kitchen Katha that was otherwise a true feast for the senses, combining music, the smells and sounds of cooking, and
      577 words
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