The Business Times, 1 July 2000

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Microfilm: NL21887
Total Pages: 22
1 22 The Business Times
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  • Title Section
    Lock icon Masthead
    14 1 THE BUSINESS TIMES MITA (P) 036/12/1999 SINGAPORE Internet: http://business-times.asial .com.sg/ SATURDAY, JULY 1, 2000
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  • Article
    Lock icon MARKET SUMMARY
    75 1 sn 2,037J7 (-11.74) SHU 793L37 (+3.75) ST INDEX FUTURES 203(100 (-13.00) □smsci nrnjßES 2*40 (-2.30) STOCK MABKET INDICES Friday Change KLSE COMP 833J7 +J.I2 NIKKEI 226 17.411.06 -64.86 HANGSENO H.166.78 -131.02 SET INDEX ____32S.69 +2J4 JAKARTA COMP __616.11 +2J1 MANILA COMP *126 TAIPEI WPI &266.09 +***** SEOUL COM
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  • Article
    Lock icon FINANCE
    77 1 FOBEX BATES uss s$ US$ 1.727 £(US$/S$pcr£) 1517 1618 EURO(US$/S$/E) 0.958 I.6&4 1)11 2.071 0.837 YEN 106.4 1.638* RM 1800 0454 HK$ 7.7% 0521 BAHT 39.18 0.044 RUP1AH 8.742 0.020 'St to 100 units PRIME BATES SINGAPORE* 5.80 KUALA LUMPUR 7.67 JAKARTA .3900 BANGKOK .9.50 MANILA 11.00 HONGKONG 850
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  • Article, Illustration
    Lock icon PM Goh: Pay hikes for ministers, civil servants are fair
    1096 1  -  Compared to economic growth a good govt can produce, they are just a tiny drop, he says Byi Anna Teo, Audrey Tan [SINGAPORE] The pay hikes for ministers and senior civil servants are fair and a tiny drop compared to
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  • Article
    Lock icon SGX in dual move to boost membership
    506 1  -  Dual membership in both derivatives and stock exchanges is now allowed By\ Marissa Chew [SlNGAPOßE] The opening up of the securities industry gathered pace yesterday with the Singapore Exchange inviting applications for new members and allowing dual membership in both its derivatives and
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  • Article
    Lock icon New unit to bolster HK investment drive
    741 1  -  Investment promotion nnit to bring in more foreign investments Fromi Quak Hiang Whai in Hongkong THE Hongkong government yesterday responded to global competitive pressures by revamping its trade and industry bureau, including the setting up of a more powerful investment promotion unit to
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  • Article, Illustration
    Lock icon Bankruptcy of Grandlink's Ricky Goh rescinded
    576 1  -  -iri exclusive Appeal accepted that failure to repay bank was a misunderstanding By Tay Hong Seng [SINGAPORE] Ricky Goh, the property developer and boss of the Grandiink Group who was declared a bankrupt on April 28, had his bankruptcy order rescinded by the Singapore
    FILE PHOTO  -  576 words
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  • NEXT page
    • ON THE grapevine
      • Article
        Lock icon Changing world
        91 2 THE US financial newspaper Barron's is a serious publication, featuring interviews with top economists and fund managers. But it also has a lighter side in the form of cartoons liberally sprinkled in its pages, many of which seem to capture perfectly the mood of the times. In one,
        91 words
      • Article
        Lock icon Sporting language
        79 2 HONGKONG residents do sometimes get their way at the expense of the Chinese mainlanders. The South China Morning Post this week reported that Star TV bosses had bowed to a flood of complaints from Hongkong tennis fans and switched their commentary on the Wimbledon championships from Mandarin to
        79 words
      • Article
        Lock icon Dial and donate — please
        91 2 Dial and donate please AFTER having missed its fund-raising target during the first show, the National Kidney Foundation is going all out to make sure Singapore audiences catch the next charity show tomorrow which will feature local artistes. Apart from the usual print advertisements, NKF chief executive officer TT Durai
        91 words
    • Article
      Lock icon S'pore bourse's $328.2b June market cap ends 3-month decline
      685 2  -  Observers say too early to tell which direction the market will take By I Siow Li Sen (SINGAPORE] The Singapore stock market's capitalisation recovered smartly in June, breaking a threemonth decline, though observers say it is too early to tell if
      685 words
    • Article, Illustration
      Lock icon FTSE, ING Barings launch new global index
      707 2  -  -%i exclusive FTSE All-World Index will challenge MSCI's dominance By' Ven Sreenivasan [SINGAPORE] The popular Morgan Stanley Capital International (MSCI) index has a new rival. UK-based FTSE and investment house ING Barings yesterday launched a global equities index which, like the MSCI, also
      Source: ???  -  707 words
    • Article, Illustration
      Lock icon 200 corporate heads, golf pros play at BT event
      413 2  -  TanChongMD, Horizon.com exec chairman win challenge trophy By* Ven Sreenivasan [SINGAPORE] About 200 corporate personalities teed off for The Business Times 24th Anniversary Advertising Golf Tournament at the Tanah Merah Country Club's Tampines Course yesterday. Also participating in this year's event
      ARTHUR LEE  -  413 words
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  • FOCUS parliament
    • Article
      Lock icon The Singapore way has worked for us: BG Lee
      853 3  -  Transparent system; no small nominal wage with big perks for ministers, like in other countries By Anna Teo TOP earners in the six benchmark professions, notably chief executives of MNCs and bankers, earned as much as $5.16 million in 1998. But
      853 words
    • Article, Illustration
      Lock icon We can't afford not to pay more: SM
      1903 3 The following are extracts from Senior Minister Lee Kuan Yew's speech in Parliament during the debate on salary revisions for ministers and civil servants. IT is not the norm in other countries to pay the market rate for the job (in government).
      1,903 words
    • in Brief
      • Article
        Lock icon Commodities Futures Act to be amended
        144 3 THE Ministry of Trade and Industry will propose amendments to the Commodities Futures Act to cover all commodities and associated derivatives. The rhangps will also require the licensing of any firm wishing to trade in commodities. Announcing the move, Trade and Industry Minister George
        144 words
      • Article
        Lock icon HDB to cut building programme further
        133 3 THE Housing Development Board (HDB) is planning to reduce further its building programme for this year, as demand for HDB flats has fallen, Senior Parliamentary Secretary for National Development Koo Tsai Kee said. HDB had already cut its building programme from 28,000 units in
        133 words
      • Article
        Lock icon Low take-up for Indon investment loans
        82 3 THE take-up rate for Singapore's loan financing scheme to encourage companies to look for investment opportunities in Indonesia has been low. Trade and Industry Minister George Yeo said. Of the $400 million made available, just $14 million have been committed in four projects. "Participating
        82 words
      • Article
        Lock icon S'pore, Mexico free trade deal by Nov?
        55 3 SINGAPORE and Mexico will try to complete their negotiations for a Free Trade Agreement (FTA) by November. Trade and Industry Minister George Yeo said talks will begin in July, and Singapore will negotiate an investment guarantee agreement as part of the FTA to
        55 words
      • Article
        Lock icon Market too small for more than 2 banks
        72 3 THERE have been no moves by Singapore banks to merge, but the government's view that the local market is too small for more than two banks stays unr.hanged, Deputy Prime Minister Lee Hsien Loong said yesterday. He reiterated that the government can
        72 words
  • Page 3 Advertisements
    • Advertisement
      Lock icon Page 3 Advertisements Column 1
      95 3 Since 1975 our worldwide staff of over 275 multi-disciplined professionals I > t f Vj| including lawyers, chartered accountants. t k K chartered secretaries and bankers have j k y provided confidential and cost effective M ft. > company formation in all the major low tax areas including m —»«ijj
      95 words
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  • SINGAPORE companies
    • Article, Illustration
      Lock icon Kim Eng's net gain soars six-fold, turnover almost triples
      437 4  - Kim En g's net gain soars six-fold, turnover almost triples Bat it warns current year results will be affected by liberalisation of broking commissions By Ling Su Ann KIM Eng Holdings' net profit rose six-fold in the year ended March 31, 2000, but the stockbroker warned that its current year
      FILE PHOTO  -  437 words
    • Article
      Lock icon Van der Horst interim losses cut by 75% to $7.5m
      316 4  -  Ryi Catherine Ong VAN der Horst, now in judicial management, has cut its net losses by 75 per cenc to $7.5 million, frcm $30 million, for the half year ended March 31. But this was due to lower interest on
      316 words
    • Article, Illustration
      Lock icon Gul Tech in $60m fund-raising move
      256 4 GUL Technologies yesterday proposed a l-for-5 bonus issue and a rights issue of warrants in conjunction with a $60 million fund-raising exercise. The Sesdaq-listed company, which is in the process of moving up to the mainboard, is proposing to issue fixed and floating rate
      256 words
    • Article
      Lock icon CK Tang still in the red, but trims loss
      245 4 WHILE other listed retailers have swung decisively back into positive territory or improved their earnings, CK Tang remains mired in the red, incurring a net loss of $4.6 million for the year ended March 31. The retailer, whose years of poor
      245 words
    • Article
      Lock icon Beware dangers of a new Internet bubble
      524 4  -  locksiew toh han shih APRIL saw the global dotcom bubble burst, with Nasdaq collapsing by over 30 per cent. This was the first Internet bubble Asia has experienced. But it may not be the last. With Nasdaq recovering, a new Internet bubble may
      524 words
    • Article, Illustration
      Lock icon PKTech ends 121% higher at 62¢ on trading debut
      307 4  -  Firm records 2nd highest opening day gain this year Byi Andrew Wee MALAYSIA-BASED PKTech International made a big splash with its Sesdaq debut yesterday, its share price posting a stellar 121 per cent gain at the close of trading. The company's
      307 words
    • Article
      Lock icon Hour Glass posts bigger loss of $7.7m; expects profit this year
      496 4  -  Loss comes despite 16.4% rise in group turnover to $284 m By' Teh Hooi Ling WATCH distributor and retailer The Hour Glass (THG) sank deeper into the red with a full year loss of $7.7 million, up from $6.5
      496 words
    • COMPANY Briefs
      • Article
        Lock icon QAF buying edible oil firms
        101 5 QAF Ltd is buying from Liem Sioe Liong, Anthony Salim and An dree Halim 70 per cent of Yinfu International Co and 89.49 per cent of Shanghai Yinfu Oils Fats Industries Co Ltd. The principal asset of Yinfu is an edible oil processing plant in
        101 words
      • Article
        Lock icon Delgro unit to distribute Volvo buses
        83 5 DELGRO Engineering, a unit of transport group DelGro Corp, has landed the distributorship for Volvo buses in Singapore. The agency was last handled by a member of the Wearnes group, most well-known for its Jaguar and Rolls-Royce distributorships. DelGro says it aims to raise
        83 words
      • Article
        Lock icon NTUC fund gets CPIS approval
        52 5 THE Central Provident Fund Board yesterday announced that the NTUC Fixed Income Fund has been approved under the CPF Investment Scheme. Investors can now use their CPF monies to buy the NTUC Fixed Income Fund, which is the sixth CPF-approved fund distributed by NTUC Income
        52 words
      • Article
        Lock icon Conditional SGX nod for Ipco deal
        125 5 IPCO International said the Singapore Exchange has approved the listing of the 650 million new shares to be issued in relation to its proposed acquisition of Spring Sun International from Springsun Highways. The exchange's in-principle approval is subject to compliance w 4 th the
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      • Article
        Lock icon Circuits Plus profit up 33%
        60 5 CIRCUITS Plus Holdings' net profit for the year ended March 31 rose 33 per cent to $2.4 million. Earnings per share dipped to 2.54 cents from 2.61 cents previously, presumably because of a share placement during the year. Turnover was up 13 per cent to
        60 words
    • Article, Illustration
      Lock icon Chartered says Q2 results will be above expectations
      494 5  -  Net income as a share of revenoe will rise 4-5 percentage points from Q1 By 1 David Boey CHARTERED Semiconductor Manufacturing, one of the world's top three independent wafer foundries, issued a 'profit warning yesterday but one that will please the market
      FILE PHOTO; Source: Bloomberg  -  494 words
    • Article
      Lock icon Pac Can loss widens to $2.1m as turnover slips
      287 5 It cites poor conditions in the construction industry PACIFIC Can Investment Holdings' net loss for the year ended March 31 swelled another one-third to $2 1 million as turnover slid 28 per cent to $20 million. As with other building companies,
      287 words
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  • Article
    Lock icon BT SHARE information service
    5295 5 NMMrn EPS MMI Mar 30 I 0.621 7.643 0.13 L70 TY LY TY LV Magnacomp Maris P 14.730 24.205 7.40 12.1 Company m (Sm) (9m) lets) lets) Madtacs USS Mar 20 P 3.617 0.772 1.36 OH Matban Mar 21 P 2163 1.199 2.50 U9 A»«andra Jun
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  • SINGAPORE markets
    • Article, Illustration
      Lock icon New listings in play as blue chips pull market down
      533 6  -  11 comment STOCKS r. sivanithy WALL Street's fall on Thursday and a generally weak day for most of Asia's leading bourses returned local stock trading yesterday to a pattern familiar to those who have tracked the market since the start
      533 words
    • Article, Illustration
      Lock icon DB's CityDev covered wrt: buying may not be easy
      195 6  -  WARRANT WATCH By\ R Sivanithy WE'LL focus on covered warrants again, this time on the Deutsche Bank covered call on property firm City Developments. The underlying shares rose briefly after news of a restructuring but interest seems to have tapered off
      195 words
    • Article, Illustration
      Lock icon Haw Par uptrend not too convincing
      232 6  -  HOT STOCK By' Teh Hooi Ling HAW Par Corporation finished 11 cents higher at $2.80 yesterday. A total of 167,000 shares were traded, slightly below the 10-day average volume of 197,000 shares. On-balance volume (OBV), which maps the relationship between price and volume, has
      232 words
    • Article
      Lock icon Market Notices
      140 6 ♦TIANJIN Zhong Xln Pharmaceutical announced the resignation of Zhao Jin Jia as a directdr with effect from June 28 as he is retiring. Li Jia Sheng has been appointed as a director with effect from June 28. ♦HONG Fok Corp announced it has received in-principle approval from the
      140 words
    • Article, Illustration
      Lock icon US$ falls against S$ after battle at key S$1.7370 level
      331 6  -  11 comment CURRENCIES larry wee THE Singapore dollar won at least a reprieve against the greenback yesterday, after an action-packed session in overnight New York trading extended to Asian currency markets when they opened. Traders reported that "speculative Interests" launched
      Source  -  331 words
    • Article
      Lock icon Untitled
      423 6 Stocka Vofcana AddvafTech 2.5c 69,798,000 PKTach5c 62,565,000 Achieve 5c 41,927,000 LJnka Island 10c 21,217,000 Briedey NZ10c 19,573,000 CEI5c 17,404,000 TTInt 15c 13,426,000 JurongTach 10c 11,943,000 Adroit 10c 10,357,000 WahShing HK50c 10,168,000 SlOCtM > Chart Semiconductor 26c 73,128,273 DBSGip 49.325,547 PKTach5c 35,304,060 PtdflcCantury.. 30,945,100 Addvt/Tw* 2.5c 27,917,150 D*»cralM0c 23.787.280 JMHUS25C400 23,241,512
      423 words
  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      514 6 NOTICES To advertise call 101 l free 1800-741 1883 Fax No: /41 1298 fIN THE MATTER OF THE > COMPANIES ACT, CHAPTER 80 NOTICE OP SPECIAL RESOLUTIONS REPULSE BAY INVESTMENT PTE LTD At an Extraordinary Ganaral Maatlng of tha mambara of REPULSE BAY INVESTMENT PTE LTD. duly convanad and hald
      514 words
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      Lock icon Page 6 Advertisements Column 2
      592 6 IN THt MATTER Of THE COMPANIES ACT, CAP. 50 AND IN THE MATTE! OF lOO.COM PTC LTD (In Msmbsri' Voluntary liquidation) NOTICE OP SPECIAL AND ORDINARY RESOLUTION (Purwam to Ssclton 290(2)(b) Al on Extroordinory General Masting of th. obovanamsd Company duly convsnsd and hsid on 28«H Jun. 2000. m. following
      592 words
    • Advertisement
      Lock icon Page 6 Advertisements Column 3
      452 6 IN THI MATH! Of THI COMPANIES ACT, CAP. 90 and IN THI MATTM Of STRAOCOM PTI. LTD. (In Voluntary liquidation) MIMSIRS' VOLUNTARY WINDING UP At the E«"ao'd"Q'y Qonorol MMilftQ of lit# ■Wfhor* oI Strodcom fie. lid duly convonod ond Md at I North Irldge load. #2407 High Street Centre. Singapore
      452 words
    • Advertisement
      Lock icon Page 6 Advertisements Column 4
      46 6 YOU CAN NOW PUT YOUR CPF SAVINCS IN EICHT. important All applications tor units in eight must foe made on the application forms accompanying the prospectus investors must read the prospectus The value of the units and the income from them may fall as wellasnse SIHtSUAf*
      46 words
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  • SINGAPORE news
    • Article, Illustration
      Lock icon Visitor arrivals in May up by 6.5%
      331 8  -  I =1 on the economy visitor arrivals By Serena Ng AFTER hitting a new high in April, the number of visitors to Singapore in May rose a more modest 6.5 per cent year-on-year to 595,101, led mainly by increased arrivals from Africa and
      Source  -  331 words
    • Article
      Lock icon Investment sales of property drop 60% to under $1b in Q2
      335 8  -  By Kalpana Rashiwala INVESTMENT sales of property a measure of developers' medium-to-long-term confidence in the property market fell to just below $1 billion in the second quarter, a whopping 60 per cent fall from the first quarter's $2.5 billion.
      335 words
    • Article, Illustration
      Lock icon Bank lending up for first time in nearly 2 years
      487 8  -  May's 1.2% rise is largest monthly gain in non-bank lending since Sept 1997 By\ Ling Su Ann SINGAPORE bank lending rose for the first time in nearly two years, a sign of a faster-than-expected turnaround in credit demand. Loans to
      Source  -  487 words
    • Article, Illustration
      Lock icon Jurong Port to invest $50m to boost capacity
      348 8  -  By t Ann Toh SINGAPORE'S second port operator, Jurong Port, yesterday announced a $50 million plan to boost its container-handling capability to offer shipping lines and logistics operators an alternative gateway for shipping services here. It has signed two contracts worth $23
      SIEW YAW HOONG  -  348 words
    • Article
      Lock icon IDA reduces opening up of SingTel's network to rivals
      420 8  -  By Teh Hooi Ling THE Infocomm Development Authority of Singapore will not make existing infrastructure owners, namely Singapore Telecom, open up as much of their networks to competitors for the provision of telecoms services as earlier indicated. But it intends to
      420 words
    • Article
      Lock icon A clarification needed from UOB
      255 8  -  Kelvin Tan I WOULD like to refer to the letter "UOB first CPF agent bank to cut transaction fee" (BT, June 29) by Peter Heng. Well, the vice-president of UOB corporate affairs made a glaring error in his letter when he wrote: "We would like
      255 words
    • Article
      Lock icon Intense pressure seen for NatSteel
      106 8  -  David Barnett I DON'T know about the electronics side, but Nat Steel's traditional construction steelwork side will come under intense margin pressures over the next two quarters because of competition from Singapore-based construction portals. The whole idea of these portals is to do away with
      106 words
    • Article
      Lock icon Settle pending issues first, SGX
      114 8  -  Denis Distant I REFER to the report "SGX stock borrowing and lending on the cards" (BT, June 29). Whilst it was nice to know that SGX has at long last publicly acknowledged the retail investors' requirement for a facility to take advantage of a prolonged
      114 words
    • Article
      Lock icon Lower fee for filing property returns
      121 8  -  Li Zhen Ji THE annual exercise for companies to declare the ownership in residential properties administered by the Land Dealing Unit (LDU), Ministry of Law, is now underway. To file the return, companies will have to pay $50 per return in the past years.
      121 words
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      Lock icon Page 8 Advertisements Column 1
      21 8 Lost tiour Try finding it at Classification 821 (Found) of The Straits Times Classified. CATS. Buy K. Sell K. Find K.
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      Lock icon Page 8 Advertisements Column 2
      66 8 We welcome letters. E-mail us at btletterQsph.com.sg or fax us at *****71, or write to: The Business Times, Times House, 390Kim Seng Road, Singapore *****5. We need your full name, address and telephone number, so we can verify it came from you. Please use temperate language, and bear in mind
      66 words
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  • eNews
    • Article
      Lock icon AOL forms pacts with Pearson, Six Flags
      350 9 NEW YORK Reuters AMERICA Online Inc said on Thursday that Pearson pic's Learning Network would provide educational content and learning tools to some of AOL's online services under a three-year pact with the publisher of the Financial Times newspaper. The Learning Network, set
      Reuters  -  350 words
    • e Briefs
      • Article
        Lock icon Cisco in deal to buy Telecom Italia unit
        74 9 Bloomberg [MILAN] Cisco Systems and a group of investors agreed to buy 80 per cent of Italtel SpA, Telecom Italia's computer network equipment unit, for 800 million euros (551.32 billion). Cisco, the world's largest maker of computer networking equipment, teamed up with
        Bloomberg  -  74 words
      • Article
        Lock icon J-Phone gets 3G licence in Japan
        68 9 Reuters [LONDON] British Telecommunications yesterday said Japan's J-Phone mobile phone companies—in which it has equity stakes with Japan Telecom and Vodafone Air Touch have won licences for third generation services. The award means the nine J-Phone companies can prepare for launch of third generation
        Reuters  -  68 words
      • Article
        Lock icon Hotwire to offer cheap air tickets
        86 9 Reuters [NEW YORK] A Web site set to launch this fall will try to beat Priceline.com at the game of selling the cheapest airline tickets around to travellers who can be flexible about the timing and airline. The site, called Hotwire, will let users
        Reuters  -  86 words
      • Article
        Lock icon Mixed signals on Free Markets
        107 9 Bloomberg [WASHINGTON] Goldman Sachs Group is sending mixed signals to investors interested in Free Markets Inc, a Pittsburgh-based company that conducts online auctions for industrial companies. Goldman, managing underwriter for the company's initial public offering last year, has maintained a "trading buy" recommendation on Free
        Bloomberg  -  107 words
    • Article, Illustration
      Lock icon Amazon gets strong support from Merrill analyst
      376 9 Upbeat view on cash position contrasts with 'deteriorating' report by Lehman FT [NEW YORK] Amazon.com, stung by suggestions that it is running out of cash, received strong support from an influential quarter on Thursday. Henry Blodget, Merrill Lynch's Internet analyst, said he was
      FT; REUTERS  -  376 words
    • Article
      Lock icon Sony plans broadband services
      352 9 TOKYO AFP SONY Corp, moving into the fast-lane of the Internet, said yesterday it will jointly set up broadband services in Japan for computers and other devices such as PlayStation2. It reached the deal with the Japanese railway-based conglomerate Tokyu Corp and its cable offshoot Tokyu
      AFP  -  352 words
    • Article
      Lock icon S'pore-Madras undersea cable plan being studied
      426 9 NEWDELHI Reuters INDIAN private companies have begun work on setting up terrestrial gateways in anticipation of imminent policy changes ending staterun Videsh Sanchar Nigam Ltd's (VSNL) monopoly to lay international terrestrial cables. Leading the pack is Madras-based national ISP Dishnet DSL Ltd, which has
      Reuters  -  426 words
    • Article
      Lock icon Online music: Yahoo! eyes acquisitions
      273 9 SANTA CLARA Bloomberg YAHOO! Inc, the world's largest Internet search service, may use acquisitions to boost its presence in the growing online music market, chief operating officer Jeffrey Mallett said. Yahoo! will look to develop its online music business through internal efforts to build its
      Bloomberg  -  273 words
    • Article
      Lock icon Know what comes after the dotcom craze? Simple – it's the notcom
      600 9 Know what comes after the dotcom craze? Simple it's the notcom HOLLYWOOD, California Companies are dropping the suffix to combat negative perceptions after shares plnnge Bloomberg JFAX.COM Inc chief executive Steven Hamerslag decided his money-losing Internet messaging company needed a name the online world would respect. So he's dropping the
      Bloomberg  -  600 words
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  • REGIONAL news
    • Article
      Lock icon Maybank cements Phileo Allied deal
      297 10  -  RMl.2b purchase via share swap; group assets total RMl33b From\ Diana Oon Abdullah in Kuala Lumpur MALAYSIA'S largest bank, Malayan Banking Bhd (Maybank), yesterday cemented a deal to buy Phileo Allied Bank for about RMI.2 billion (***** million) via a share swap. Announcing the signing
      297 words
    • Article
      Lock icon Khazanah may buy EON stake for RM750m
      679 10 KUALA LUMPUR Move would underscore extension of Malaysian govt's role in business Bloomberg MALAYSIAN state investment arm Khazanah Holdings Bhd may take over the country's largest car distributor, the second time in a month the government has sought to buy what it considers
      Bloomberg  -  679 words
    • Article, Illustration
      Lock icon Shares linked to Bakun project see active trade
      438 10  -  From Diana Oon Abdullah in Kuala Lumpur SHARES of listed companies controlled by Ting Pek Khiing, particularly those connected to the Bakun Dam project, were actively traded yesterday after Malaysian Prime Minister Mahathir Mohamad talked of reviving the project to meet the
      FILE PHOTO  -  438 words
    • Article
      Lock icon Nets in Philippine cash card venture
      244 10  -  SINGAPORE It joins forces with Visa International, Compaq and PLDT By* Andrea Tan NETWORK for Electronic Transfers Singapore, better known as Nets, said yesterday it had formed a joint venture to launch its cash card system in the Philippines. The partners in the joint
      244 words
    • MARKET moves
      • Article
        Lock icon Profit-taking on 2nd board's new issues
        106 10 SEVERAL new listings on the KLSE second board finished weaker yesterday as punters took profit at the end of the week that saw most of these counters making reasonable gains. Apex Healthcare and Unimech Group Bhd, which joined the board this week, ended on
        106 words
      • Article
        Lock icon Tanjong's gaming arm disappoints
        137 10 SHARES of diversified power and gaming group Tanjong were down yesterday after first-quarter earnings from its numbers forecasting business came out flat. Tanjong, which also runs a racing totalisator business (RTO), expects the losses from that segment of its business to continue for the rest of
        137 words
      • Article
        Lock icon Electronics-related counters down
        101 10  -  Compiled by 1 Diana Oon Abdullah SHARES of semiconductor makers were affected yesterday by worries that parts shortages would affect their manufacturing output. The main loser was Unisem Bhd, which was down RMI to RM27. MPI was the only one to finish higher, up 25 sen after
        101 words
    • Article
      Lock icon SCMP refutes Robert Kuok's accusation of misreporting
      568 11  -  It rans editorial focnsing on difficulties in reporting on imnnlftmi flhina From Quak Hiang Whai in Hongkong IN a bold display of editorial independence, the South China Morning Post yesterday responded to its controlling shareholder Robert Kuok's letter which had accused the English
      568 words
    • Article
      Lock icon Chiang removed from new NT$1,000 notes
      253 11 TAIPEI Bloomberg TAIWAN, which earlier this year toppled the ruling Nationalist Party after a halfcentury of rule, is poised to eject the party's founder former president Chiang Kaishek from its currency. Chiang, who led the Nationalists to Taiwan in the 1940s after losing a
      Bloomberg  -  253 words
    • SINO Briefs
      • Article
        Lock icon BASF wins US$2.6b Chinese plant deal
        78 11 Bloomberg [LUDWIGSHAFEN, Germany] BASF AG, Europe's biggest chemical maker, said yesterday that the Chinese government had approved a proposed US$2.6 billion (554.5 billion) plant in Nanjing, which will give the company a major production site in the world's most populous market. This is China's
        Bloomberg  -  78 words
      • Article
        Lock icon 'Duplicate investment' loans banned
        74 11 AFX-Asia [SHANGHAI] The People's Bank of China and the State Economic and Trade Commission have issued regulations barring domestic commercial banks from issuing loans to projects in sectors banned from "duplicate investment", according to the Shanghai Securities News. A document issued by the two bodies said
        AFX-Asia  -  74 words
      • Article
        Lock icon CNOOC may delay overseas share sale
        84 11 Bloomberg [SINGAPORE] China National Offshore Oil Corp (CNOOC), the country's third-largest oil company, said yesterday that it may delay an international share sale until the first quarter of next year if rival Sinopec goes ahead with its own sale of shares this year. The
        Bloomberg  -  84 words
    • Article
      Lock icon China risk in spotlight over Hitic Samurai bond payment
      532 11 HONGKONG Bat it won't stifle appetite for Chinese assets: analysts Reuters CHINA credit risk was exposed to a fresh glare of scrutiny on Wednesday as a troubled Chinese investment trust missed a Samurai bond coupon payment just 24 hours after Beijing
      Reuters  -  532 words
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      Lock icon A futuristic design for history
      44 11 rti f( S impression shows the controversial Beijing Opera project designed by French architect Paul Andreu and stop construction of the futurist China National Grand Theatre" which is set to be constructed in central Beijing near Tiananmen Square. AFP
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    • Article
      Lock icon HK housing supply target not in existence since 1998: Tung
      406 11 HONGKONG Reuters AFP HONGKONG'S Chief Executive Tung Cheehwa has admitted for the first time that his target of supplying 85,000 new flats each year ceased to exist from 1998, some local Chineselanguage newspapers reported yesterday. "Since 1998, it has ceased
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      Lock icon Junk bonds: only good corporate citizens qualify
      449 11  -  KL roles mean bar on firms such as Repco, Eelanamas FYom Eddie Toh in Kuala Lumpur MALAYSIAN companies like Repco Holdings and Kelanamas Industries will not be able to issue private debt securities (PDS) until the middle of next year although the Securities
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      Lock icon Govt's 200b yen bailout of Sogo seen a dangerous precedent
      412 11 TOKYO Reuters JAPANESE financial authorities said yesterday they would go ahead with a 200 billion yen (553.3 billion) bailout of an indebted major department store, a move analysts said could open the floodgates for similar cases. The government's Deposit Insurance
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      Lock icon Asian telecom stocks fall on profit warning
      356 11 HONGKONG Growth for wireless communications may slow: Ericsson Bloomberg ASIAN telecommunications and network equipment stocks fell yesterday, led by China Mobile (HK) Ltd and Kyocera Corp, after Ericsson AB warned profit growth for the wireless communications industry may slow. China Mobile paced Hongkong's
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      1239 10 SC GLOBAL DEVELOPMENTS LTD (Incorporated in the Republic of Singapore) NOTICE OF MEETING NOTICE IS HEREBY GIVEN that the Twenty Second Annual General Meeting of SC Global Developments Ltd (formerly known as ANA Hotels Singapore Limited) will be held at 47 Scotts Road #18-01, Goldbell Towers, Singapore *****3, on Wednesday,
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      19 10 vehicles t 4 The Straits Times Classified. I CAT AI Classifications 302 393. Buy It. Sel It. Find It.
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  • WORLD news
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      Lock icon Good times roll for European, Asian investment bankers
      619 12 LONDON Pay packets and bonuses soar to record levels this year as banks bounce back Reuters LIFE has never been better for many Asian and European investment bankers, according to a study which shows their pay packets soared to record levels this
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      Lock icon Deutsche Telekom eyes Sprint but bides its tune
      312 12 LONDON Reuters DEUTSCHE Telekom would be "crazy" not to be eyeing a US$lOO billion-plus (Ssl73 billion) bid for US carrier Sprint Corp, but will not charge headlong into a deal for fear of a third, high profile merger failure. Despite openly seeking
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      Lock icon Venture capital key to life sciences
      385 12  -  SINGAPORE By] Eugene Low SINGAPORE has to attract more venture capital funding for the life sciences if it is to realise the economic value of its biomedical research and development, an official from the Ministry of Health (MOH) said yesterday. "The availability of venture
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      Lock icon Italy truly deserves its place in final
      922 12  -  It won with Its backs to the wall In opposition's den, says SHAHIRON SAHARI SHAHIRON SAHARI The writer is a Sydney based journalist THE footballers of the Netherlands have often been referred to, with very good reason, as the Dutch Masters, comparing them
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      Lock icon Wall St underwriting fees tumble 45% in Q2
      547 12 NEW YORK Stock and bond sales by companies down by a fifth to USs6Bsb Bloomberg WALL Street fees from underwriting in the US slumped 45 per cent over the past three months, compared with the first quarter, as sales of stocks and
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      Lock icon US May personal spending up 0.2%, incomes 0.4%
      308 12 WASHINGTON Bloomberg US personal spending rose 0.2 per cent in May, the same as a month earlier and the smallest gain in 1 1/2 years, government figures showed yesterday. Incomes rose 0.4 per cent after a revised 0.6 per cent gain the
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      Lock icon Greenspan to testify on monetary policy on July 19
      293 12 WASHINGTON Bloomberg FEDERAL Reserve chairman Alan Greenspan will testify on July 19 on US monetary policy before the Senate Banking Committee, the panel announced on Thursday. The House banking panel will invite him to testify shortly afterward. Mr Greenspan's testimony follows
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  • FINANCE & commodities
    • Article
      Lock icon STI futures hit by rate fears
      300 13  -  SOX Derivatives TYadingReports ST Index Chan Yet San Refco Singapore SINGAPORE stocks retreated yesterday for the second day as some telecom issues fell. The Straits Times Index (STI) gave up 11.74 points or 0.57 per cent to close at 2037.97, with 17 counters having
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      Lock icon Futures rise on govt moves to boost stocks
      229 13  -  MSCI Taiwan Index Chan Yet San Rtfco Singapore THE Taiwan stock market bounced back from five days of losses as the government announced measures to support the market. The MSCI Taiwan Index gained 7.80 points or 2.18 per cent to close at
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      Lock icon Oil prices drift in slow trading
      178 13 ENERGY REPORT Reuters [LONDON] OU prices traded sideways yesterday as Opec waited to see whether last week's output hike would cool prices amid growing anxiety over heating oil stocks for next winter in the US. International benchmark Brent crude futures for August delivery stood
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      Lock icon CURRENCY REPORT
      308 13 Reuters London THE euro held most of its gains against the US dollar, having risen to a 10-day high earlier in trading yesterday, buoyed by expectations that the European Central Bank will raise interest rates further. Meanwhile, the yen recovered from earlier weakness against, the greenback amid speculation
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      Lock icon Untitled
      1220 13 ditbebammceoss rates w3 AS C$ Kwt Euro Ffr Dm HKS t»8 8» topUk Ywi Wwi HllttSPrttiPw s$ B rr1 Sir ICT$ ffiltt rnwtf US$ Austraiii 0.886 4.966 0.625 4.097 1222 4.664 26.732 ***** 0.631 6.672 2.274 1.275 ***** ***** 1033 4084 0973 18.438 ***** tw am CjMd. 1128 5.603 0.705
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      1753 13 8I00M FUTURES jun30 BUB8CR (futures cksn« ts «t 5.30p«) RSS1 CONTRACT (S cmuAo) Close Mm Open Hjffc U» Sett (toim) Interest *00 114.50 00 H7.00 £?<» M W.75 400 Od/Bec 00 ***** RSS 3 CONTRACT (US c«U/k«) Votane Open Nfr low Sett (to—s) Interest M 00 64.75 850 *•9 00
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  • STOCKS east asia
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      Lock icon Hang Seng declines but finds support at 16,000
      2842 14 HONGKONG AFP DHaagSeng -13LQ2 HONGKONG share prices fell 0.8 per cent yesterday on continued selling following overnight falls on Wall Street, dealers said. Peter Lai, director of OCBC Securities, said "the market is reacting to Dow Jones and Nasdaq falls overnight, but
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      900 14 CHINA Reuters PI Shenzhen B Index +OJS CHINA'S hard currency B shares closed a touch higher yesterday in thin trade, with most investors keeping to the sidelines as the market consolidated after recent surges. The Shenzhen B Share Index inched up 0.15 of a point, or 0.13 per cent, to
      Reuters; Source: Credit Lyonnais Securities (Asia) Ltd  -  900 words
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      Lock icon TAIPEI
      350 14 AFP QWP Index +***** TAIWAN share prices closed 1.8 per cent higher yesterday on buying sparked by the government's stimulus measures, dealers said. The Weighted Price Index rose 144.20 points to 8,265.09, following a 2.9 per cent fall in the previous session. Share prices rose across the board, with
      AFP  -  350 words
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      Lock icon Tokyo down on profit-taking of tech stocks
      2016 14 TOKYO AFP □lßkk«i2g -MLBS TOKYO share prices fell 0.4 per cent yesterday on profit-taking as investors dumped high-technology issues following a setback on Wall Street, brokers said. But towards the close, foreign investors led a late round of buying as they dressed up
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  • STOCKS klse
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      Lock icon KL shares inch up on late buying support
      415 15 AFP Composite Index +3J2 MALAYSIAN shares closed 0.4 per cent higher yesterday on last-minute buying of blue chips to support the market, dealers said. The Composite Index ended up 3.12 points at 833.37, off its low of 816.26. The Second Board Index
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      7216 15 INDUSTRIALS ConiMMf products 2000 Lest Vol Day Net Cap J!S Company Sale OOP Mjjfc Law P/t Jmll 112 3 «S 3! 8 25 358 358 6 W5.' 55 71 uoch 14 74 70 104.7 670 290 Apollo Food Hlq 430 14 4 450 430 10.2 172 0 3 IS§ 2
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  • SGX clob & regional stocks
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      3231 16 BONDS WARRANTS Jun30 *1 wm< Pnml I*kr U-VMk last M Boy U«I6mH kf% lua* Cax Liar Wk MUM N# La» Ml (-006) Las *rm Uht Mta <—*») kattt Mca liirtM? UR 79 14.5 S Acma ******4 19.5 unch 36 20 19.5 19.5 20 19 41.0 1 300 162 6.26 13
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      Lock icon BANGKOK
      767 16 AFP P| SET Index *134 THAI shares rose 0.7 per cent yesterday in thin trade with light bargain-hunting mainly in energy stocks, dealers said. The Stock Exchange of Thailand (SET) Composite Index rose 2.34 points to 325.69. The benchmark SET 50 Index rose 0.15 point to 23.07. Advancers led
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      Lock icon MANILA
      272 16 AFP Composite Index +L 25 THE Philippine Stock Exchange Composite Index crept up 1.25 points to 1,533.99 yesterday. Turnover on the stock market declined to 2.21 billion shares worth 938.84 million pesos. Losers swamped gainers 52 to 40, with 45 issues unchanged. AFP Nw (000) MRC A It tad
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      Lock icon JAKARTA
      702 16 AFP □Composite Index +151 INDONESIAN shares closed up 0.5 per cent yesterday amid a late rebound in select big caps with sentiment boosted by lower inflation figures for June, dealers said. The Jakarta Stock Exchange Composite Index closed up 2.51 points at 515.11, off a low of 507.57. Volume
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      Lock icon WELLINGTON
      279 16 AFP QIBSE-40 +5.42 NEW Zealand shares rose 0.3 per cent yesterday in heavy trade with strong gains in some key stocks offset by weakness in market heavyweight Telecom. The NZSE-40 Capital Index rose 5.42 points to 2,060.68 on a volume of just under NZ$2OO million. —AFP Jm30 W COW
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      Lock icon SYDNEY
      558 16 AFP QAflOrdmarieß *5110 AUSTRALIAN shares closed 1.6 per cent higher yesterday, as solid gains among blue chip stocks defied overnight weakness on Wall Street. The All Ordinaries Index rose 52.1 points to 3,257.60 while the SP/ASX 200 put on 56.70 points to 3,311.20. Preliminary national turnover was 1.36 billion
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      Lock icon SEOUL
      306 16 AFP PI Composite Index +132 SOUTH Korea's Composite Index yesterday closed up 2.32 points at 821.22. Volume was 459 million shares worth 2.9 trillion won. AFP in 10 ArwmStmi ***** -500 BriinToch .895 0 C»otr»l Bon* 1290 -10 ChoHConim *****0 3000 DM GU Bank 2330 20 DMS*ng Corp 1830
      AFP  -  306 words
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  • Article
    Lock icon STOCKS sgx
    6649 17 SOXMADIBOARD Transaction date: Jun 30 52-Wk Last Vol Otv Last Quota D»v Dtv YM N«« Awl C >m#ony So*o OOP) Low Snyoc Soltof C'vf P/I frSC Prtco lis c c -g." :> s ii 2 "y «2 ■s 7 I J£2SK?_z==S 33 «SS I? S Jts I? gg
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      282 18 Where to wine, dine and entertains SSSSiSSiiiS mm™™* Enjoy our ever-popular Japanese favourites for lunch and in the evening, tuck in to a wide selection of Japanese, Asian and Western dishes like Sashimi, Roti Prata, Murtabak, Drunken Chicken and Roast Sirloin Beef. Japanese Buffet Lunch $23.90 (Adult), 40% discount (Child)
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      52 18 f C 1 <f§®> HOTEL GRAND CENTRAL LIMITED 22 Orchard Road/Cavenagh Road, Singapore *****7 Tel: 737 9944 Ext 400/02 Fax 733 3175 over the others. Advertise in Wine, Dine Entertain of The Business Times and reach out to 117,000 readers daily. Contact Patrick Ang 740 1284 or Amy Choo 740
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      34 18 jbJL DISTINCTIVELY ESTMRANT H g V Experience the exquisite cuisine of Diaoyutai at Pine Court Chinese Restaurant. Reservations: 831-6262/6 Mandarin Sugaporr nJBD^ miim VH Orchard Road Singapore 2)8867 W 737 4411 Fax 732 2361
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  • Page 18 Miscellaneous
    • Miscellaneous
      Lock icon Page 18 Miscellaneous Column 1
      855 18 Central 9.00 Vested Interest. 530 Aksi Mat Yoyo. 10.30 At Home With (r). Oftn AIVI Pontrai' ra 9 ao News 5 Tonight. 6.00 Kanak-Kanak Spencer. ILOO The World Tonight. Zoo Lane/ArUma? 10 00 J, AG Cerdik'. UJO Tradi.ional Medicine Lane Animal ILOO Mortal Kombat. 7.00 Bayiku. In (r) &30 Little
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      Lock icon Page 18 Miscellaneous Column 2
      288 18 CHVFTIC CROSSWORD ACROSS ble (5) 1 Quick to head for stronghold (8) 7 Connected with government, I 6 Drink a lot round place and fall entered exciting Capitol Hill at over (6) asl (9) 9 Narrow passage sounds direct Yearns to get passionate? Re(6) mote chance of success (4,4) 10
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  • The Arts
    • Article, Illustration
      Lock icon All inspired out
      1138 19  -  I In- njrl,ij)i 11;i\<• colli'' do'A II dlid Mill*' lo\ <'i| .i)|iii' |j;i|i-(] |1 i (Hi f Mii I c < i-rvoii'- <ill ol 11m- lime hill one llnii" lor Mil l' I lii \IMI :> SniVfipori' Arl:. I imIiv.iI (li'liiiilclv rockcd 111 < ho;il hicked \\illi:
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    • SINGAPORE ARTS FESTIVAL
      • Article, Illustration
        Lock icon A contemporary slant
        1066 20  -  Bold new acts took centrestage in dance programming, with a distinct lack of classical shows By Felicia Yap DANCE Zfy Felicia Yap THE lights blow out, the curtains tumble, and we are left with an empty stage still sizzling with balletic energy. Like the theatre and music
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        Lock icon Music please!
        724 20  -  Hot Water. Highlight or low point? The avant garde agenda may be attractive but was Singapore ready? Maybe next time By) Koh Huiting MUSIC By Koh Halting WAS it music, theatre, dance or none of the above? This was the main poser for the Arts Festival's music programme,
        724 words
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      Lock icon Framing beauty
      886 21  -  JOYCE sob speaks to David Tan: banker, scholar, fashion photographer JOYCE KOH DAVID Tan seems to be your con ventional banker in all aspects crisp white shirt, immaculately gelled hair and articulate an swers Still, the image of a avant-garde photographer is never too far from mind Perhaps
      886 words
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      Lock icon Community spirit on stage
      638 21  -  By, Aaron Lye IN a move guaranteed to ensure that they won't be left behind by the ever-heighten-ing proliferation of the arts in Singapore, The Necessary Stage (TNS) has upped the ante yet again this time in an attempt to bring the arts out of the
      638 words
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      Lock icon Out on video now: ART
      461 21  -  By) Koh Huiting WHAT exactly is video art? Who can define it when it is so subjective, was the clear message that came across in last Saturday's art talk at the Singapore Art Museum Part of a year-long series of talks held jointly by the
      461 words
    • Article
      Lock icon Just get on the boat and WRITE
      586 21  -  Theatreworks' 24-hour playwriting competition goes cruising this year By Koh Huiting INSPIRATION comes in all manner of locations. While those prone to sea-sickness might think twice, all other aspiring playwrights are invited to head for the harbour to take part in Theatre Works'
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      Lock icon Science — by any stretch
      641 22  - Science by any stretch Broadway comes to the Singapore Science Centre with lessons on lycra, teflon and other indispensable inventions. jotce koh investigates JOYCE KOH MIX a troupe of saucy dancers, some Spice Girls-inspired music, a dash of salsa and loads of slippery, stretchy material together. The resultant brew is
      641 words
    • Article, Illustration
      Lock icon THE PROGRAMME
      1520 22  -  Compiled by M Yasotha MUSIC 7th International Piano Festival The Singapore Symphony Orchestra presents four world-renowned pianists, Jon Nakamatsu, Konstantin Lifschitz, Nikolai Lugansky and Frederick Kempf. Programme includes Haydn's Sonata No 33 in C Minor, Chopin's The Four Ballads, Mozart's Sonata in D major and Prokofiev's Sonata No
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      Lock icon SPOTLIGHT
      245 22 Tike Buss At Ambience Theme and Variations, capture the variations on canvas of an artist who is known never to repeat a subject in his paintings. Plot and Players: The exhibition features some more recent works of highly versatile Singaporean artist Choy Weng Yan, showing at the office of
      245 words
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      126 20 In business, being at the right place -v '*1 f ;> ■>; 4* at the right time j f P fir. J •r *r n ,V <* .a JE J* v V 1 with the right crowd I is critical. Our Special Features can help you get there. The right
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