The Business Times, 9 February 2002

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Total Pages: 16
1 16 The Business Times
  • 14 1 THE BUSINESS TIMES weekend 85C FEBRUARY 9-10, 2002 i Internet: http//www.business-times asial com sg
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  • 635 1  -  British deposit insurance system also being looked at, says DPM Lee From Loh Hui Yin in London THE Singapore government is studying the development model used in London's Canary Wharf where a private company is given complete say in the development of an integrated
    635 words
  • 950 1  -  By Anna Teo [SINGAPORE] Former president and deputy prime minister Ong Teng Cheong died at home last night after a long battle with cancer. Mr Ong, who turned 66 last month, had been discharged from hospital on Monday night after a twoweek stay. Mr
    950 words
  • 663 1  -  SATURDAY SOAPBOX jennifer lien SILICON Valley received a belated Christmas present this week from the White House a 2003 Budget proposal that sharply increases the US government's technology spending, plus other measures that will give a definite boost to the Valley's troubled economy. If
    663 words
  • 447 1  -  Volkswagen and BMW among marques which enjoyed strong growth last year Byi Christopher Tan {SINGAPORE] Asia in recession? Not if car sales are any indication. According to figures disclosed by two major players in the region, sales last year almost touched the peak
    447 words
  • Page 1 Advertisements

  • Page 2 Advertisements
    • 116 2 Since 1975 our *orld*i4e staff of i ov< r 275 multi-disciplined professionals 1 V incliidii>g lawyers chartered accountants p J i 1 chartered secretaries and bankers have W M B provided confidential and cost effective r ffl l company formation in all the major low 4 mm fIHPHt. tax areas
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    • 24 2 Sing Tel well-plaoed as next-gen telco, Pg 4 The Only Intelligent luck lIS out worldsi(K find out win! French Designer www.ligne-roset.com MONTICELLO Furniture Worldwide;
      24 words
  • in the news
    • 580 2  -  MARKET R E V 1 E W r sivanithy AFTER decoupling itself from events on Wall Street in the final week of January, the local bourse now finds itself once again joined at the hip to the US market. With major US
      580 words
    • 75 2 «n 1,736.42 (+19.31) BT-SRI 721.21 (+9.56) ST INDEX FUTURES 1,733.00 (+12.00) SIMSCI FUTURES 216.70 (+1.90) Friday Change KLSECOMP ***** .324 NIKKEI 225 _..._9,686.06 +102 79 HANG SENG ...*****.99 +109 31 SETT INDEX .353.59 +682 JAKARTA COMP ...436 98 +3.81 MANILA COMP .1,***** +4.41 TAIPEI WPI Closed SEOUL COMP *****
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    • 68 2 FOREX RATES U8$ 8$ US$ (S$ per US$) 1.831 £(US$/S$ per S) 1.414 2.588 El'RO(US$/S$/E). 0.872 1.597 DM 2.242 1.224 YEN 133.6 73.00 KM 3.800 1076 HK$ 7.799 4160 BAHT 43.87 23.96 RITIAH 10.271 5.610 PRIME RATES SINGAPORE* 5i5 KUALA LUMPUR 640 HONGKONG 5.125 JAKARTA 39.00 TAIPEI 6.725 TOKYO
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    • 792 2  -  But Ebitda before these costs surpasses analysts' forecasts By, Angela Tan [SINGAPORE] Singapore Telecommunications' earnings fell 25 per cent to $1.45 billion for the nine months ended Dec 1, as the group booked in costs related to the acquisition of Australian telco
      ARTHUR LEE  -  792 words
    • 656 2  -  Announcement gives further boost to bank shares Frorra Anthony Rowley in Tokyo JAPANESE Finance Minister Masajuro Shiokawa yesterday signalled that semiofficial share-buying operations could begin as early as next week in order to counter the plunge in Japanese bank and other
      656 words
    • 331 2  -  Each of three sub-groups to account for 3-5% GDP, np from 5% aggregate now By' Tang Weng Fai [SINGAPORE] The Economic Development Board aims to make each of the three areas of its newly defined services cluster contribute 3 to
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    • 643 3  -  New-business premiums last year more than doubled t059.39b By Genevieve Cua THE insurance industry rang up a whopping $9.39 billion in new-business premiums last year more than twice the $3.98 billion garnered in 2000. But the industry is bracing itself for a challenging year,
      Source: LIA  -  643 words
    • 177 3 AFTER much talk of bonus rate cuts due to dismal returns on investment last year, NTUC Income has finally confirmed that reductions will be announced at the end of this month. Income registered a low 4.6 per cent yield on investments in 2001, "which will
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    • 710 3  -  But it expects to turn profitable this year despite market weakness in Q1 Reports by Kalpana Rashiwala CAPITALAND has incurred $275 million in group net loss for the year ended Dec 31, but expects to return to profitability in the current full year even though
      710 words
    • 297 3 THE Sing Mall Property Trust will offer higher yields when it is relaunched later this year, Capita Land executives said yesterday. Rentals achieved by the malls that are higher than earlier projected and a cheaper loan package being sourced for the SPT will help
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    • 602 4 HOCK LOCK SIE W Teh Hooi ling Mobile, data services and growth of regional associates fuel optimism THE significance of Singapore Telecommunications' transformation in the last year alone finally showed when the company announced its third-quarter results yesterday. For the first time, Sing Tel
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    • 246 4  -  By Andrea Tan HURT by provisions of $7.9 million, construction firm Chip Eng Seng's net profit fell to $1.5 million, down 64 per cent from a year ago. Operationally, it posted a profit of $11.1 million against $13.1 million as competition ate into its
      246 words
    • IN BRIEF
      • 64 4 [TOKYO] The Government erf Singapore Investment Corp has hired Morgan Stanley Dean Witter Co to sell 12.3 billion yen (Ssl6B million) of bonds backed by rents from luxury apartments in Tokyo. GIC will securitise seven luxury apartments in the centre of Tokyo
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      • 57 4 THE Infocomm Development Authority of Singapore (IDA) has extended its annual "e-Celebrations" event from the normal five weeks to a 52-week event this year. "The e-Celebrations Singapore will offer a range of consumer activities featuring the four Es in an e-lifestyle—e-communications, e-entertainment, e-learning and
        57 words
      • 50 4 CEI Contract Manufacturing says 2001 profit grew 21.7 per cent to $4.2 million, while earnings per share increased from 1.60 to 1.87 cents. Turnover was up 16.8 per cent to $53.6 million, with sales to existing customers in the US up 33.9 per cent.
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      • 43 4 JURONG Engineering says its second half results won't better those in the first half, due to weakness in the global economy and construction markets. It has also decided to adopt a "prudent" position on provisions for various projects.
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    • 275 4 MALAYSIA'S Hong Leong Bank may lend $72 minion to members of the Pinetree Town and Country Club who are interested in buying out the assets and freehold property of the club. Details of the $72 million loan have yet to be
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    • 384 5  -  EYE ON THE ECONOMY outlook They cite signs of improvement in global IT cycle By* Anna Teo THE recent uptick in the purchasing managers' index will likely persist, some economists say. The January PMI picked up one point to 49.3, and more significantly, the electronics
      384 words
    • 294 5  -  From Loh Hui Yin in London IT is better to have political space in Singapore opened up gradually than to have a "cathartic revolution" which could be dangerous for Singapore, Deputy Prime Minister Lee Hsien Loong said yesterday. "It's a progressive opening up
      294 words
    • 483 5  -  CURRENCIES Wall Street rout continues to hurt US$ larry wee A FIFTH straight session of Wall Street weakness pushed the price of gold through US$3OO per ounce yesterday to its best close in two years, dragging the US dollar broadly lower for the second
      483 words
    • 520 6 Utama-RHB merger goes ahead finally Deal values Rashid Hussain's 23.9% stake at RM6 a share Reuters [KUALA LUMPUR] Utama Banking Group has agreed to buy a controlling stake in Rashid Hussain Bhd (RHB) in a merger that will create Malaysia's third-largest banking group, banking sources said yesterday. "It is a
      Reuters; NSTP  -  520 words
    • 500 6 Ms SIM firm wins one off Macau's three new gaming concessions Reuters, Bloomberg [MACAU] Legendary Macau casino king Stanley Ho, one of the world's richest men, has won his latest high-stakes wager to keep his casinos rolling despite some powerful Las Vegas players muscling
      Reuters,; Bloomberg; REUTERS  -  500 words
    • 390 6 [KUALA LUMPUR] A Malaysian public relations firm has taken Malaysianlisted companies to task for their "woeful lack of understanding" on using the Internet to reach out to investors. Alpha Platform PR said its recent survey showed that over 80 per cent failed
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    • 389 6 Reuters [KUALA LUMPUR] Malaysia's Technology Resources Industries said yesterday chairman Tajudin Ramli would retain control of the debt-laden company after a RM3.B billion (Ssl.B bUlion) recapitalisation. TRI, which earlier said it would unveil "cornerstone" investors to buy major stakes in the firm,
      Reuters  -  389 words
    • 629 7 ENRON SAGA But he says the company was in good shape when he left; ex-CFO invokes right to remain silent NYT, LAT-WP [WASHINGTON] Former Enron Corp chief executive Jeffrey Skilling's memory faltered frequently on Thursday as he told a congressional panel he could
      NYT,; LAT-WP; REUTERS  -  629 words
    • 269 7 Bloomberg LATWP, [DUBLIN] Allied Irish Banks said on Thursday that it would centralise currency trading operations and appoint an "eminent person" from the financial industry to investigate how internal safeguards failed to stop an employee at its US subsidiary from secretly losing US$75O million.
      Bloomberg; LATWP,  -  269 words

  • Page 3 Advertisements
    • 114 3 lr*ifJaMB :H I WW KP^^R ML §T jp To make it even more enticing, for the first 50 couples with confirmed reservations, we'll give you a bottle of 30 ml Burberry perfume and invite you for a movie date to Kate Leopold But that's not all! For just another SS9B.OO*,
      114 words
    • 740 3 0911 CAM International Holdings Ltd (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of CAM International Holdings Ltd ("the Company") will be held at Carlton Hotel, Esplanade Room 2, Level 4. 76 Bras Basah Road, Singapore *****8 on
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  • Page 4 Advertisements
    • 1744 4 /hMiJ fwniitsesph.coai.st 00 NOTICE OF ANNUAL GENERAL MEETING SO houhnos UMITED AND BOOKS CLOSURE DATES NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be held at 15 Kian Teck Crescent Singapore *****4 on the 28th day of February 2002 at 10.00 a.m. for the following
      1,744 words
    • 422 4 IN THE MATTER Of SOUTH ASIA ALUMINIUM ENGRG CO PTE LTD (IN VOLUNTARY LIQUIDATION) MEMBERS' VOLUNTARY WINDING UP Al an Extraordinary General Meeting of the members of the above named company duly convened and held al 17 Phillip Street. #QS-02 Grand Building. Singapore *****5 on 31 January 2002 the Special
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    • 1158 4 the companies act, CAP. 50 AND IN THE MATTER Of LEVEITfCM PTE LTD MEMBERS' VOLUNTARY WINDING UP Al on Extraordinary Genaral Mm«m of lEVEITICH PTE LTD convanad and Said at 37 Kon Tack Dr S«9opor« 62««44 or 514» doyofl•tx u o ry 2002, following tp*ool "etok*on was duly pouad RESOLVED:
      1,158 words

  • Page 5 Advertisements
    • 26 5 SS|i tS The Straits Classified where /> virtually every I I home is at your J finqertips.V 1 I hit Mt tWt 1 'J l r> I
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    • 29 5 I H Lianhe Zaobao 9 I Acquisition I I moves here I Ibylndon I I businessman I I Johnlin I I Yuwono I I Epmtffi I I*** Lll fl
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    • 1322 5 feel CEI CONTRACT MANUFACTURING LIMITED IM ANNOUNCEMENT RESULTS The unaudited results of the Group and of the Company for the financial year ended 31 December 2001 are as follows &BQUE COMPANY 2QQI 2QQQ ±IB 2QQI 2000 $000 000 $'000 $'000 Turnover 53,597 45,879 16.8 53,375 45,621 17.0 Other income (including
      1,322 words

  • 2626 6 UNIT TRUSTS FUNDS CrtiBood S'pore A/t 1.202/ CitiBond Spore B/S 1.226/ lit< Citi Money Sing Dollar Class B 1.0371/ mmt Amro Men Mgt (5 pore) Qti Pan-Europe Equity Fund 102/ Star Eirope Eqty!* 0.754? CitiSeiert Asia THt Balanced \M Star Europe Bd 0.954/ C/tiSelect Asm Tilt Growth ijy Star Europe
    2,626 words

  • 3521 7 Transaction date: Feb 8 for live prices, log on to wiim^nsmonemarketscom M+tmm i£L i** q—*» MM MCap WtA*« "P r "S2SL W- f| In 8»y StMm Cm m $3 m3 i ABNAmroNLG 56c 9 S1 SJ tff t JO *<. OJ 4.9 05 55:6 99 16 500 JSC
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  • 44 7 ■ST- '-r* a ■> a art a-a-a "J® BIO s Dumondi UMWtaJ 6M0 WO s ISOJUSTech UMHO 160 4950 4950 I I MO «o s isMsaspor* ussco 1i®0 *W s BS4P500 US11M0 ---.11"*"* ijiso W50 s stows in who iao kmc iosio -III
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  • 990 7 i* _*< .01' IgUli CM* Mr OrYM MM HCj( Ma C M.W- PI U» 0»» Sdhr CVr 75 >3 *5 X I"» M s s s a ncASJHUginc- ""iiun iilwil WCAST1KH-.- as *05 Si S 1 J, 2 tl ,S uls !u ;;i S 2J S ?M t"
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  • 246 7 JS* —P 1 to«» W» GrVW MM 1Kb c '1"l 1W I— —r«r M» Cw Wt $3 ,W 5L. 40 14 12 4J 17M 720 265 2.1 7.4 6 *****2 Cheung KoogSOc HK 1710 240 63 6.7 3 *****.5 34 Gtye SaMiorB U HK. 45 2 76 4
    246 words

  • week in review
    • 984 8 For the full stories, visit http:/ business-tiTnes.cisicil.coiTi.sg SM spells out changes needed to boost entrepreneurship Feb 6 SENIOR Minister Lee Kuan Yew on Tuesday hinted at two new measures to help boost Singapore's entrepreneurial spirit releasing more government scholars to the private sector and lower taxes.
      FILE PHOTO  -  984 words
    • 274 8 Editorial Feb 6 Electronics under the microscope A FIRST-quarter recovery is expected for the local electronics industry, but a hard re-look at this key sector remains crucial Despite its volatility, a rapid hollowing out of manufacturing cannot be allowed yet because the services sector in its present
      274 words
  • 2210 8 Transaction date: Feb 8 KUALA LUMPUR jwo-e- IJO AM M vol FnnrtNMM J.62 inch 4 m w- ropo nm- 259 -0.01 25 FWmAfHM 0.50 0.01 261 ASMRealty Z 1.19 0 02 C77 iWttooo 135 £01 16 Abric 1.99 0X33 64 G«mud» 5.15 0.05 2913 ACP Industries 3.16 -0.04 49
    2,210 words
  • 668 8 Transaction date: Feb 8 w q— a—§ i a— S*.. 2S2. >3Bc 1 «un« cac %M iino *oioo Ot*rt SairtfCond '51 4220 *0.020 OUt 031 7.100 *0.290 25!®"® 2Ja MnMyHB( 0* 0415 -0405 CKMMWTJSC U1 ***** 4100 VGX k 045 1JS0 <UtO P*5 Orp 1M1 14.700 *OJOO SASOc (JO
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  • 680 8 BONDS WARRANTS U« VaiC«w Eur "tS emw« %*—t- u* AST! 1MM0621 215 -OS 6 1 16 12 156 28 Aona Ud W*****4 IS 03 350 1 SO 435 236 33 AmtekWD***** 41 inch 378 1 33 1 178 40 Anmtrung1M>***** A 1 10 27 2-75 27 A«tfocdPWW***** 35 1 166
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  • in the money
    • 811 9  -  Profit and provision warnings seen as having been discounted By, Andrea Tan PROPERTY stocks have been beating a retreat recently after their robust run-up since the end of last year on hopes that privatehome sales will pick up. In the last week of January,
      FILE PHOTO  -  811 words
    • 421 9  -  By] Patrick Peck The author is a vice-president at Paris based JCF Group THE upgrading trend is slowing down after a few weeks of positive opinion changes. This week saw 19 upgrades against 17 downgrades. Chartered Semiconductor, the world's third largest chipmaker, continues to receive more
      421 words
    • 1499 9  -  INVESTOR EDUCATION A good analyst will identify liquidity and solvency problems, and explain them By I Sebastian Chong The writer is an associate professor in finance and accounting at the Faculty of Business Administration, National University of Singapore, and is a committee member of
      1,499 words
  • 1302 9 for week beginning Feb 4 M«m en om rr lt iy it mm ai M W w **oom Tach OS-Fab P 1.414 3434 0.77 2.7* 30-ian P ***** ***** 15.9 HJ 01-fab P *****L 6.692 14.1*. 8.92 BayonfcsTaeh 07-fafc I Ml3 3.9* 1 0.46 ■MT 07-fab
    1,302 words
  • Page 9 Advertisements

  • what's in style
    • 714 10  -  Much as Baet Yeok Kuan's sculptures convey a sense of being trapped in an urbanscape, they also suggek growth from breaking of boundaries. PARVATHINAYAR gets a feel of his other worths PARVATHI NAYAR YOU could call it a gut-lev-el, involuntary response of the individual to the environment: dilation.
      714 words
    • 328 10  -  Byi Cheah Ui-Hoon TWO new solo exhibitions open back to back in town practically side by side at the Mita art space on Hill Street. One is a stylised depiction of Sri Lanka's verdant landscape and culture, while the other has an unmistakable Balinese signature. At Galeriebelvedere,
      328 words
  • 4218 10 Transaction date: Feb 8 for more, go to itnirw/jsicumenmarketsxom HONGKONG KGM. -0-51 0.02 ***** Val kitarchina Hldgi .0.99 unch 2325 *—B Interiorm Ceramics 0.02 inch 7790 SS?S! l jy w d> *"'""2« 004 42 ao? -8S Alpha towH 0.03 inch 107; XCHoldlngi 4.93 inch 4786 8.05 0J0 1387
    4,218 words

  • travel
    • 862 11  -  Romance your partner or recharge your batteries with a weekend getaway. TAN HWEE HWEE checks out package deals at Singapore luxury hotels TAN HWEE HWEE STRESSED out? Need a vacation but your boss won't let you go on leave, because if you do, the pile
      862 words
  • Article, Illustration
    1092 11 Transaction date: Feb 8 IMTBEBAMM CROSS RATES CI twi fir M m Yw WW Ml iamb n» s$ *mt w ro AlBMta 0419 4248 0587 3448 1.147 3.992 24.907 52.572 0.M4 6.722 1949 1222 30.790 ***** 0.937 5J4S OJM 17.*****.452 0262 0.512 ClMit 1222 5.189 0.717 4.701 1402 4J77
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  • Page 11 Advertisements
    • 181 11 I m l wmM I wjjß'i r J -Ha Don't /et t/>e economic inertia leave you and middle senior level executives. These are grounded. More than ever, there's a need to decision-makers who are directly involved in the move ahead with a bold vision to succeed, transportation logistics field prospects
      181 words

  • what's in style motoring
    • 1067 12  -  CHRISTOPHER TAN drives the AI9OL and reckons it's the best little Mercedes yet CHRISTOPHER TAN Prophecies, like van Goghs, are never taken seriously until the ones who make them are pushing up daisies. While I don't profess to be clairvoyant, or one who lies awake on starry, starry
      1,067 words
    • BRAVE NEW WHIRL
      • 210 12 SHIPS, planes and cars may see a big leap forward in speed and energy efficiency if a drag-reducing invention catches on. Able to cut drag by as much as 30 per cent in tests, the gadget comprises a "smart skin" that covers the surface of
        210 words
      • 131 12 ACTIVE camber where the wheels of a car tilt to maximise grip when cornering, may find its way to Mercedes-Benz passenger cars in the near future. The experimental concept, shown in the F 400 Carving research car recently, takes its cue from
        131 words
      • 94 12 HARDCORE off-road fans will be glad to know that General Motors will make about 20,000 of its new Hummer H2 sportutility vehicles next year, with volume rising to about 40,000 units in 2003. Hummer officials say the H2 is expected to draw buyers from a range of other
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      • 63 12 TAKE part in Singapore Telecom's driving holiday and help raise funds for the Asian Women's Welfare Association. This year's event from March 9 to 11 goes to Kuan tan and is managed by Wheels For Fun. Cost is $220 per car (maximum four people), with
        63 words
      • 145 12  -  Christopher Tan GENERAL Motors' new Cadillac sport utility-like vehicle aimed at a younger market and going on sale in the second quarter of next year will be called the SRX. One of five new products planned for production during the next 18 months, the SRX marks
        145 words
  • Page 12 Advertisements
    • 778 12 PNE INDUSTRIES LTD NOTICE IS HEREBY GIVEN that the Second Annual General Meeting of the Company will be held at Juniper Room, Level 2, Orchard Hotel. 442 Orchard Road, Singapore *****9 on Wednesday, 27 February 2002 at 10.00 a.m.. to transact the following business: AS ORDINARY BUSINESS 1 To receive
      778 words
    • 252 12 IN THE MATTER Of THE COMPANIES ACT, CAP. 50. AND IN THE MATTE* OF COOPERATION SANITARY ELECTRICAL CONSTRUCTION PTE LTD NOTICE IS HEREBY GIVEN pursuant to Secfcon 296oftheCompomes Act, Cap 50, thai o meeting of the Creditori of the obovenomed Company will be held at 2 Miftri Road, #08-01 HMC
      252 words

  • food
    • Article, Illustration
      1430 13  -  Food and romance go hand-in-hand to stoke the flames of passion on Valentine's Day. And if all else fails, there's still the good old flowers and chocolates, GEOFFREY EU reckons GEOFFREY EU DESPITE the fasteroding significance and unsavoury commercial aspects of celebrating Valentine's Day a date whose murky
      FILE PHOTOS EXCEPT RITZ-CARLTON  -  1,430 words
  • Page 13 Advertisements
    • 630 13 wine&dine with weekendßT CateO'Mgß MM #02-38 Specialist Shopping Centre. Te1:*****38 20Upper Circular Rd, Riverwalk *01-42. TH439 the Year of the Horse. Untill Apr 15, enjoy 20 on the total bid with your Diners Ctub card. Not Well known for Its vaiue-for-money 5522 per cent discount (except wine champagne) valid on
      630 words

  • collections
    • 1055 14  -  CORINNE KERK takes a look at festive flower arrangements CORINNE KERK THERE'S just no getting away from it Chinese New Year floral arrangements however contemporary they are can't quite stray from the usual auspicious colours of red, yellow, orange and green So even if white is in vogue
      PHOTOS BY CHRIS LOH, ARTHUR LEE  -  1,055 words
    • 427 14  -  By Corinne Kerk SO, is Tse Tse the name of a new Chinese antique store or a pesky African fly? Well, it's the latter, and it's also the name picked by a bohemian Parisian design duo for their quirky home accessories line. The partners, Catherine Levy
      427 words
    • 1035 15  -  Dorian Ho eschews the exclusivity of haute couture, preferring to dress 'as many people as I can'. CAT ONG finds out why CAT ONG IF Dorian Grey was the man who never wanted to grow old, Dorian Ho says he is the man who never wanted to
      1,035 words
    • Article, Illustration
      353 15  -  cheah ui-hoon has some suggestions on how to commemorate the Year of the Horse CHEAH UI-HOON EXPECT to see more equestrian-themed decor around as we enter the Year of the Horse. If you're a steed-lover but don't subscribe to feng shui reasons of displaying them, you can always
      353 words

  • Page 15 Miscellaneous
    • 311 15 4*k»t-riC CROSSWORD —fK7Mp I M- aBa U ACROSS Trains knock the bottom 1 Big old plate for a war- cS? Earl r ®y' s carrier (7) horse (7) 8 Coming out of ternble 5 The French arete m test of tardship, his widow was bony fish (7) z x 9
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