The Business Times, 20 November 1999

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Total Pages: 24
1 24 The Business Times
  • 14 1 THE BUSINESS TIMES MITA(P) 046/12/98 85c SINGAPORE Internei: nttp://business-times.asial .com.sg/ SATURDAY, NOVEMBER 20, 1999
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  • 59 1 Dsn 222L04 (+17.38) wmn-SRI U ***** (+111) flsmsannruiEs U 30&60 (+1.50) STOCK MASKEr INDICES Friday Chance KLseoqjip mn +iaa ****** -18*79.84 +38.03 iW»3BEN0 18,***** +361.36 MiwMX 411J6 +0.66 JAKARTA CX)MP __***** -Ml WfUCOMP —tJSft79__.-8.06 TAfPH WP1 7.770J1 +6176 SEOULCOUP mil +22J2 CLSA CHINA B 827.06 13.01 AUST ALL
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  • 80 1 FOBEX BATES us$ s$ m 1.670 £(US$/S$ per 1418 1701 ETBO(US$/SS/E) 1.031 1.722 Ml 1.897 0.880 YEN 1055 1577 Ml 3J00 8.439 HK$ 7.773 0516 BAHT 18.07 0 043 BUPIAH 7,020 0.024 'Stto 100 units PUKE SATES SINGAPORK* 5.80 KUALA LUMPUR 7.25 JAKARTA 40.00 BANGKOK 1000 MANILA II .00
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  • 550 1  -  -^exclusive HDBnpgraders accounted for 38% of caveats in Q3 against 46% in Q2 By] Marissa Chew [SINGAPORE] People who upgraded from public housing to private housing, a factor which contributed significantly to the recent recovery of the private property market, accounted for
    Source: SISV Services Pte Ltd, Edmund Tie & Company Research  -  550 words
  • 649 1  -  An improvement, but it still falls short of SES nfeuß HI chief Wong Wei Kong Singapore and Eddie Toh in Kuala Lumpur EFFECTIVE Capital's sweetened offer for the frozen Malaysian Clob shares has met with a cautious response from the Securities Investors Association
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  • 78 1 In our report on Effective Capital's revised Clob offer yesterday, we were wrong in saying that the warrants of four companies Metroplex, PJ Development, RHB Capital and UMW Holdings would expire by the middle of next year. Their expiry dates have in fact been extended variously to between December
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  • 509 1  -  $L5O closing price values loss-making firm at about $lb W Toh Han Shih [SINGAPORE] Internet company Mediaßing.com was the talk of the market yesterday, closing its first day of trading at $1.50 or a premium of more than 180 per cent over its
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  • 557 1  -  But certain conditions have to be met, says MTI Byi Christopher Tan [SINGAPORE] The government said yesterday that it does not object to and has never objected to any companies setting up facilities to dispense diesel, or petrol for
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  • Page 1 Advertisements
    • 80 1 maPE Top stories Sing Land buys Grange Mansion site for $92m. Pg 3 The popularity of share splits. Pg 3 Taipei doubles foreign investors' stock quota. Pg 11 Mahathir in hometown to launch campaign. Pg 9 Plans to knock two zeros off yen gain favour in Tokyo again. Pg 12
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    • 8 1 Is loss-making Mediaßing's strong debut justified?, Pg 3
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    • 35 1 under the BIG TOP at the Padang Managing the Cirque Du Soleil is an act in itself J? w Q/jp£. |r^ SI;1! \,p Mll ."!I 11 I I!I •1, I'l. IVirr, Me. n twerp Mwsrow
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  • NEXT page
    • ON THE grapevine
      • 93 2 EVEN heads of high-tech companies are not above enlisting the co-operation of the elements to smoothen their way forward. Plan-B Technologies chairman, Lim Soon Hock, explains that he chose last Thursday to announce his company's strategic alliance with Sesdaq-listed Strike Engineering because '1118' Nov
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      • 134 2 AGILENT Technologies, the spin-off company of computer giant Hewlett-Packard Co, began life on the New York Stock Exchange last Thursday right at the top as far as symbols go, anyway. It trades under the symbol "A". Our sources tell us that getting the "A" wasn't easy
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      • 66 2 IN countries like the US and UK, when a unit trust or mutual ftind performs well, it grows in size because existing investors will put in more money, as will new investors, says Tan Chin Kong, associate director of UOB Asset Management. Here, successful funds
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      • 167 2 IN this age of global competition, senior management needs more than just helicopter vision in their navigation and risk management. You might even need to think beyond your earthly challenges, it seems. In a statement yesterday, APT Satellite Holdings, a listed satellite operator, said: "Thanks to the prudent
        167 words
      • 140 2 TO commemorate the year 2000 in a fun and useful way, 10 lawyers from international firm Linklaters' Bangkok and Singapore offices will cycle the 2,000 km from Bangkok to Singapore to raise money for three charities. All expenses will be borne by the firm
        140 words
    • 642 2  -  raotu IflMfetf tart#* By Siow Li Sen (SINGAPORE] UOB Ass* Management (UOBAM) Is on a roH Having cot tts teeth managing ftmds in Singapore the large* unit trust manager hare it now getting Asian equity mandates from overseas financial institutions, competing against
      CHRIS LOH  -  642 words
  • Page 2 Advertisements
    • 145 2 I lfi|^E flp|^^^HHHj^HjHHra 9-21 Nov ■MHHHHHKjg World Expo for 19-21 Nov |HHBHb| Complementary Medicine fl Wedcfing Exhibttk>n 19-21 Nov I CIA99 30 Nov-3 Dec I (incorporating CbemAste99, Inotw ttwantAakQfl J AnntflhAtrioOP) EnvfronmexAste99& 30 Nov-3 Dec I WWermexAsta99 (Exhibition) m 1-3 Dec B^,fflWWß|Mßj HHHHHHHHMSBB (Conference) Information is correct at the time
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    • 3 2 nrvH Oil jIL
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  • Page 3 Advertisements
    • 179 3 Introducing an exciting new experience in dining! KSfISHB PEARL RIVER PALACE Muanir A La Carte: $6.80 nett per dish §I^* Choose from an astounding array of 92 exciting dishes Pomfret With Bean Crumbs, Deep Fried Butter Prawns, Stewed Di£fc With Ginger in Claypot and Baby Abalone Clams in Spicy Ses&ilii.
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  • SINGAPORE companies
    • 487 3  -  EN BLOCEEIESI Freehold site is firm's first rftgiiirnitifll land acquisition in about two decades By] Kalpana Rashiwala SINGAPORE Land has bagged the freehold Grange Mansion site for $92 million, its first residential land acquisition in about two decades, sources said. This follows a
      487 words
    • 369 3  -  By Kalpana Rashiwala SIMON Cheong plans to pump the Cuscaden Tower plot he has just bagged for $86 million into his listed vehicle ANA Hotels Singapore at cost, and is looking to redevelop the site with joint-ven-ture partners. Mr Cheong's
      369 words
    • 718 3  -  |![«MHlocksiew toh han shih THE debut of loss-making on the Stock Exchange of Singapore (SES) yesterday caught the eye. Its shares touched a high of $2, a premium of almost 280 per cent over its IPO price of 53 cents. Though it closed at
      718 words
    • 443 3  -  $251 m deal will see each of the 124 owners pocket $2m from sale Byl Kalpana Rashiwala IT'S official. City Developments has bagged the Kim Lin Mansion site for $251 million after edging out Hongkong tycoon Li Ka-shing. This means that
      443 words
    • 404 4  -  listings NTUC Fair Price buys 15m shares, is now second biggest shareholder after SembCorp By, Jennifer Lien SINGAPORE Food Industries' initial public offering closed yesterday with a subscription of 23.7 times and NTUC Fair Price as its second biggest shareholder after SembCorp Industries.
      FILE PHOTO  -  404 words
    • 250 4  -  By Ling Su Ann [SINGAPORE] Times Publishing yesterday posted a 23 per cent rise in net profit to $25.7 million for the year ended Aug 31,1999. This is below analysts' expectations of $27.4 million as published in Barra Global Estimates.
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    • COMPANY Briefs
      • 47 4 THE Central Provident Board has added Cosco Investments (S) Ltd cumulative preference shares and Singapore Food Industries to its list of trustee shares. Meanwhile, it removed British-American Tobacco, Ingram Micro Asia, Rothmans Industries Ltd and Sembawang Resources from the list.
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      • 135 4 LEHMAN Brothers Holdings pic launched and priced its inaugural Singapore dollar bond issue yesterday. DBS Bank was the Joint lead manager for the $100 miiHnn seven-year note issue guaranteed by Lehman Brothers Holdings Inc, the third largest US investment bank. Issued as part of
        135 words
      • 85 4 THE High Court has confirmed a capital reduction by Ipco International to reduce the par value erf each ordinary share from $1.70 to $0.20, the company said yesterday. Ipco shareholders had, on Oct 25, given their approval for the exercise at an extraordinary general
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    • 252 4 Money raised will be used to expand franchising, China business Bloomberg NANYANG Optical Co Pte, a closely held Singapore retailer of glasses and contact lenses, said it plans to sell shares to the public in late 2000 to expand its franchising business locally
      Bloomberg; FILE PHOTO  -  252 words
    • 388 5 Bonstead, Hwa Hong, Jaya join Chnan Hup SHARE splits are all the rage these days. It's easier done than share buybacks and seems to have more immediate impact on share prices. The latest to jump on the bandwagon are Hwa Hong Corp, Jaya
      388 words
    • 253 5 Bank looking at selling some of its bad loans to cut provisioning harden AFX-Asia [BANGKOK] DBS Thai Danu Bank will be able to provide fUll reserves for problem loans by year-end without having to inject new capital, bank president Pornsanong Tuchinda
      AFX-Asia  -  253 words
    • 396 5 Proceeds to go to franchise deal and regional expansion HERSING Corp is placing out 17 million new shares with Kim Eng Securities (Pte) Ltd at 69.5 cents a share to raise net proceeds of $11.6 million. The issue price represents a discount
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    • 278 5 Garment retailer plans to israe 82m new shares Bloomberg SECOND Chance Properties Ltd stock climbed as much as 15.6 per cent to a five-month high after the company announced yesterday morning it plans to give investors a bonus share for every
      Bloomberg; FILE PHOTO  -  278 words

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  • Page 5 Advertisements
    • 83 5 Chip Eng Seng Corporation Ltd (Incorporated in the Republic of Singapore on 23 October 1998) v.„. INITIAL PUBLIC OFFERING 125,000,000 Ordinary Shares Issue Price: Sso.lB each Placement Share Sso.lB each Offer Share Applications for shares under the public offer may be made by way of printed Application Forms or Electronic
      83 words

  • SINGAPORE markets
    • 416 6 Stocks Volume MediaRing 10c 101.643.000 Jaya HWgs 50c 22,744.000 K3ne5c 22.170.000 Asia Food&Prop US$ 18,913,000 Form Hldgs 5c 14.423.000 Gotten Agri US10c 12,333,000 LAM 50c. 12,159,000 Hcrtung lnvNT5 11,103.000 'Gerrting Int 9.721,000 Pa 25c 8.744,000 Stock* MediaRing 10c. 165,657,740 OCBC 61,291,293 DBSGip 44,295,360 Jaya HWgs 50c 30,985,470 l-One5c 22,071.355 NOL
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    • 585 6  -  J I comment STOCKS ven sreenivasan THE Singapore stock market ended the week on a positive note yesterday, boosted by rotational buying in the wake of a surge on Wall Street on Thursday. Much of the activity was centred on secondliners and
      585 words
    • 211 6  -  WARRANT WATCH By Ven Sreenivasan THERE was a strong play on marine stocks yesterday which saw half a dozen shipping counters rising to their highest levels in months, one of which was Hai Sun Hup. The stock jumped nearly 8
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    • 262 6  -  HOT STOCK By Wong Wei Kong JAYA Holdings shares surged yesterday to become the session's second most active stock and second biggest net gainer after the shipbuilder announced that it had obtained stock exchange approval for its proposed l-into-5 stock split. Jaya shares rose 35
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    • 149 6 ♦International Conference on so-cio-cultural and policy dimensions of healthcare organised by the National University of Singapore (Nov 20-22) at Orchard Hotel, Orchard Ballrooms, Level 3 ♦9am. Singapore Indian Chamber of Commerce and Industry 75th anniversary celebrations at Grand Copthorne, Galleria Ballroom (Level 3). Guest-of-honour
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    • 504 6  -  -j| comment CURRENCIES Weekly survey suggests no severe weakening of regional currencies larry wee ANOTHER strong showing for the US stock markets in overnight trading saw the greenback make selective gains yesterday, but a weekly survey suggests that for regional currencies at least,
      504 words
  • Page 6 Advertisements

  • SINGAPORE news
    • 536 7  -  Response to Allgreen project shows strong interest in freehold landed property By< Andrea Tan ALL 75 units of the first phase of Allgreen Properties' Pavilion Park were snapped up yesterday within three hours, signalling once again the strong interest in the freehold landed
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    • 125 7 JY Pillai has stepped down from the board of directors of the Monetary Authority of Singapore, effective Thursday. The move comes ahead of his new job as head of Singapore's newly-merged stock and futures exchange on Dec 1. Mr Pillay, 65,
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    • 239 7 PROFESSIONAL engineers will have to fulfil a number of professional development hours before they can renew their practising certificates, Minister for National Development Mah Bow Tan said yesterday. Engineers have to constantly upgrade their knowledge of the profession in order to stay current in the
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    • 249 7  -  Average price of $860 psf; units cost $Ll4m-$L56m for 'early-bird' buyers By. Kalpana Rashiwala CITY Developments releases today 65 units of Thomson 800 condominium at an average price of $860 psf, which works out to a handsome profit as the company paid just
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    • 363 8  -  Ezyhealth also plans to lannch Doctor's Net to connect 60% of Singapore's clinics iw Toh Han Shih EZYHEALTH Asia Pacific, a Singapore start-up, yesterday launched its Internet health portal which offers the public access to buy health products on the Internet. At
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    • 404 8  -  By, Andrea Tan HEALTH FOOD chain General Nutrition Centers (GNC) and Guardian (SEA) have formed an alliance to corner about half the health supplements market here worth about $100 million a year. Any fears of possible cannibal i sat ion of either's
      ARTHUR LEE  -  404 words
    • 406 8 S'poretobehit harder than other parts of region, says JP Morgan ECONOMIC growth in the US will moderate but this does not mean a global slowdown as other parts of the world will take up the slack, JP Morgan economists said at a
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    • 340 8  -  By, Andrea Tan BANKS in Singapore have taken a series of steps to cope with the expected surge in demand for phone and Internet banking facilities during the millennium crossover. "We expect that the increased usage of these facilities will
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    • 722 8  -  There are limits edition timepieces to suit all tastes and pockets By i Corinne Kerk NEVER has the transition from one year to another been more of an opportunity for marketing folks than it has been this year. Thanks
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    • 306 8 THE founder of a homegrown software firm yesterday beat 10 other women to win the Asme-HP Woman Entrepreneur of the Year award. Lim Kwee Enn, 40, chief executive of Knowledge Engineering, received her award from Senior Minister of State for Education Aline Wong at a
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  • Page 7 Advertisements
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  • Page 8 Advertisements
    • 565 8 MHTTfU'C To advertise call toll free 1800-741 1883 *1 V I iwllll Fax No 741 1298 IN THE MATTER OF THE COMPANIES ACT, CAP. SO AND IN THE MATTER OF LEONG LEE PLASTIC MANUFACTURER CO PTE LTD. (In Voluntary Liquidation) NOTICE OF RESOLUTION At an Extraordinary General Meeting of the
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    • 506 8 IN THE MATTER OF THE COMPANIES ACT, CAP.SO AND IN THE MATTER OF CHUNG RONG SINGAPORE INVESTMENT PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act. Cap SO that the final meeting of the members of the
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    • 2 8 43 DAYS
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  • MALAYSIA news
    • 912 9  -  Anwar's wife unlikely to challenge PMinhis constituency From, Ruth Wong in A lor Seta r PRIME Minister Mahathir Mohamad arrived to a wet welcome in his hometown here last night as he prepared to launch his ruling National Front's campaign in the sternest
      REUTERS  -  912 words
    • 240 9 KUALA LUMPUR Reuters MALAYSIAN First Finance Minister Daim Zainuddin will run for re-election to Parliament, an official of the governing coalition said yesterday, putting to rest speculation that he would quit politics. An official at the Barisan Nasional (National Front) coalition's office in
      Reuters  -  240 words
    • 249 9 MANILA Bernama FTLIPINO-Chinese tycoon Lucio Tan is rumoured to be interested in acquiring the cash-strapped Malaysianowned National Steel Corp (NSC), the Philippines' largest steel complex. Rumours about Mr Tan, who owns Philippines Airlines, surfaced this week after he had sent feelers
      Bernama  -  249 words
    • MARKET moves
      • 172 9 THE Kuala Lumpur stock market was active in what dealers described as a pre-nomination day rally yesterday, with particular focus on politically-linked counters such as infrastructure conglomerate Renong, media and property group MRCB, and highway operator United Engineers (M). Trading was brisk in these counters due to
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      • 113 9 LITYAN Holdings, newly promoted to the main board from the second board, posted the highest percentage gain for the day. The telecommunications and IT services company rose about 27 per cent, or RMI.IO to close at RM4.10 yesterday. Other IT plays continued to focus on semiconductor
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      • 91 9  -  Compiled by! Diana Oon Abdullah THE KLSE finance index closed 114.11 points up yesterday at 5,883.22, reflecting the overall buoyancy of the stock market. Leading the way was index heavyweight Maybank which topped the day's most active list with 7.1 million shares traded. The counter picked
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    • 133 9 KUALA LUMPUR AFX-Asia SIME Darby Bhd said its unit SD Holdings Bhd will be signing a conditional share sale agreement with MNI Holdings Bhd for the proposed disposal of a 51.24 per cent stake in Sime AXA Sdn Bhd for cash.
      AFX-Asia  -  133 words
    • 146 9 KUALA LUMPUR Reuters MALAYSIA'S Suria Capital Holdings Bhd said yesterday it plans to sell its 100 per cent of the equity of Sabah Development Bank Bhd for one Malaysian ringgit to the government of the state of Sabah. Suria said
      Reuters  -  146 words
    • 103 9 KUALA LUMPUR Bloomberg MALAYSIA hired Hill and Knowlton, a public relations firm, to handle communications with investors and the public on the Y2K computer bug. The move is to provide "awareness" to the public to enable them to treat Jan 1. 2000 as "business as
      Bloomberg  -  103 words
  • Page 9 Advertisements
    • 159 9 THE BUSINESS TIMES MOET CHANDON 'SPIRIT OF THE CENTI IRY" NOMINATION RECOGNISING EXCjpNT CONTRIBtJfIONS OF INDIVIEpaI IN THIS CENTURY Since 1743, Moet Chandon has sought to be part of the heritage of the glorious years I which we share with Singapore and the world. Every onfce m a lifetime, we
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  • SOUTH east asia
    • 383 10 BANGKOK Central bank wants new bids for Bangkok Metropolitan Bank and Siam City Bank Reuters THE sale of two nationalised Thai banks is set to be delayed at least until the first quarter of 2000, analysts said yesterday, after the Bank
      Reuters  -  383 words
    • 276 10 m MANILA Inquiry follows steep rise, fall in gaming firm BWs shares Reuters THE Philippine Senate will summon 17 brokers of the Philippine Stock Exchange to a hearing next week as part of an inquiry seeking to determine whether or not there
      Reuters  -  276 words
    • 49 10 [BANGKOK] About 50farmers burning an effigy of Thai Deputy Agriculture Minister Newin Chidchob outside Government House in Bangkok yesterday. The farmers called for a blanket ban on the import of genetically modified organisms (GMO) and a halt to trials of GMO crops. AFP
      AFP  -  49 words
    • 308 10 BANGKOK Bloomberg SG Asia Credit, a finance company owned by Societe Generate of France and Bangkok Bank, signed a pact with Thailand's finance ministry to pull the company back from the brink of insolvency. The government, through a rescue programme for ailing
      Bloomberg  -  308 words
    • 511 10 BANGKOK Bank's ex-chairman says some events seen as a cover-up Reuters THE Thai government faces a major credibility crisis over its handling of a scandal at state-run Krung Thai Bank Pic (KTB), the former chairman of the controversy-hit bank said yesterday.
      Reuters  -  511 words
    • 229 10 JAKARTA Bloomberg CHEMICAL maker PT Tri Polyta Indonesia may be delisted from the New York Stock Exchange if its financial position doesn't improve, the company said. The company failed to meet three conditions for listing: total market capitalisation of not less than US$5O million
      Bloomberg  -  229 words
    • NOTE Book
      • 68 10 Reuters [JAKARTA] One of Indonesia's most senior ministers yesterday denied widespread media reports he was about to quit in protest at same of President Abdurrahman Wahid's controversial policies. "It is not true," Coordinating Welfare Minister Hamzah Has said. Local media said he wanted to quit
        Reuters  -  68 words
      • 48 10 Bridge News [BANGKOK] Bangkok Bank Pic said yesterday that six directors resigned in line with new Bank of Thailand rules aimed at avoiding conflict of interest that might arise through directors holding directorships in debtor companies that are clients of the hank.—Bridge News
        Bridge News  -  48 words
      • 35 10 Bridge News [JAKARTA] UK-based Standard Chartered has no intention of withdrawing its plans to buy Bank Bali, Bank Indonesia senior deputy governor Anwar Nasution told reporters yesterday.—Bridge News
        Bridge News  -  35 words
      • 37 10 Reuters [MANILA] The Philippines' top millennium bug buster, Amable Aguiluz V, resigned from his poet yesterday amid allegations he had used his position to solicit business for a firm owned by his family.—Reuters
        Reuters  -  37 words
      • 54 10 AFX-Asia [LONDON] Premier Oil pic said it awarded a US$6O million (Ssloo million) contract to PT Gema Sembrown, the Indonesian unitofSembcorp Engineering, and consortium partner PT Nippon Steel Construction Indonesia. Premier said the contract is for the construction of a gas compression facility for
        AFX-Asia  -  54 words
      • 65 10 Bloomberg [JAKARTA] PT Bank Danamon, Indonesia's biggest company by market capitalisation, said its nine-month loss narrowed as bad loan provisions shrank and Interest expenses fell by nearly 40 per cent. The bank's loss ftell to 5.4 trillion rupiah (Ssl .28 billion), or 126 rupiah a share,
        Bloomberg  -  65 words
  • Page 10 Advertisements
    • 514 10 EXECUTIVE APPOINTMENTS lo ad\ ertise call toll-free IXOO-741 INN 3 I ;i\ No: 741 12 4 >.S HMkifiTflTiYiTllS VICE PRESIDENT BUSINESS DEVELOPMENT the JOB Reporting direct the Business Development Unit (BOU) to focus on business development by actively interacting with SMEs, MNCs as well as overseas firms to identify industry
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  • EAST asia
    • 529 11 TAIPEI Investment limit raised to USsl.2b from USs6oom under pressure from MSCI and global fond managers Bloomberg TAIWAN will double the limit on a single foreign investor's holdings of its stocks to US$l.2 billion (Ss2 billion), bowing to pressure from global fund managers and
      Bloomberg  -  529 words
    • 444 11  -  Market, still riding on China's WTO deal, is close to' 97 peak From. Meera Tharmaratnam in Hongkong HONGKONG'S benchmark index smashed through the 15,000 barrier yesterday, just 10 per cent away from its August 1997 peak of 16,541.6, as investors bought more stocks in
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    • 394 11 TAIPEI Track record rales waived to keep firms from listing overseas Reuters TAIWAN regulators are moving to keep Internet startups and other promising firms at home, easing tough listing rules that have prompted dotcom companies to search for initial public offerings (IPOs) overseas. The
      Reuters  -  394 words
    • Article, Illustration
      69 11 [BEIJING] Beijing residents walking through a new plaza next to the largest bookstore in China (background) yesterday in the city 'sfast<hcmging downtown area. The Communist Party has come underfirefrom newspapers and citizens as its aggressive steps to spruce up Beijing, such as shutting factories and developing open, green
      AFP  -  69 words
  • SOUTH asia
    • ASIA Notes
      • 130 11 [ISLAMABAD] Pakistan yesterday pressed ahead with its crackdown on corruption as police hunted for more suspects among the country's wealthy elite. So far, 25 people have been arrested since the crackdown began on Wednesday. Separately, former Pakistani Premier Nawaz Sharif appeared at an anti-terrorism court in
        AFP  -  130 words
      • 81 11 [NEW DELHI] Indian Telecommunications Minister Ram Vilas Pas wan said yesterday that the government was ready to sit down with the telecom regulator and private firms to resolve their differences. "I have assured them (Telecom Regulatory Authority of India or Trai) that we should
        81 words
      • 64 11 [NEW DELHI] Any move by India to lower industrial tariffs at the upcoming World Trade Organisation talks should be linked to greater market access for its exports, the Federation of Indian Chambers of Commerce and Industry has said. India's delegation should adopt a
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      • 66 11 [KARACHI] Pakistan's foreign exchange reserves have risen to US$l.6 billion (552.5 billion), the State Bank of Pakistan said yesterday. It said the reserves were up US$22 million by last Saturday from the previous week. The central bank said it had rescinded an earlier order banning
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    • 675 11 MADRAS Track-makers Ashok Leyland, Telco named; also motorcyle firms Hero Honda, TVS Suzuki Reuters INDIA'S automobile sector offers a mixed bag for investors, but analysts see a clutch of two-wheeler and commercial vehicle makers offering good buys. "It's not one homogenous
      Reuters  -  675 words
    • 261 11 HONGKONG It will act if holders reject the bond swap offer by Islamabad Bloomberg PAKISTAN'S sovereign rating may be downgraded to default by Thomson Financial Bank Watch if the government's bond swap announced on Monday is not accepted by holders of its existing securities. Standard Poor's
      Bloomberg  -  261 words
    • 141 11 NEW DELHI Bloomberg INDIA plans to double the number of cellular phone service providers in each region to four and boost competition. The government is awaiting the recommendations of the Telecom Regulatory Authority of India before it invites bids,
      Bloomberg  -  141 words
    • 128 11 NEW DELHI Bloomberg THE Indian government has no plans to offer tax benefits to state-run Mahanagar Telephone Nigam Ltd, the country's biggest fixed-line phone service provider, Minister for Communications Ram Vilas Paswan said. Earlier this week, the Economic Times daily reported that MTNL,
      Bloomberg  -  128 words

  • WORLD news
    • 671 12  -  UK cell phone group's aggressive new offer raises price to 240 enros per share far MarniAgmnnn From Neil Behrmann in London THE UK mobile phone group Vodafone Air Touch has aggressively raised its bid for Mannesmann, Germany's largest cell phone company, to a
      AFP  -  671 words
    • 244 12 NEW YORK Reuters THE New York Stock Exchange (NYSE) plans to tighten some margin lending rules in an attempt to curb some of the risks tied to speculative activity by day traders, the Wall Street Journal said. Similar changes are expected
      Reuters  -  244 words
    • 516 12 NEW YORK Hewlett-Packard, np 16%, fnels rally with earnings report NYT, LAT-WP, Bridge News, Bloomberg, Reuters INTEREST rates may rise, the Federal Reserve Board may fret, but there's just no keeping a good bull market down. On Thursday, the US market returned to
      NYT,; LAT-WP,; Bridge News,; Bloomberg,; Reuters  -  516 words
    • 294 12 LONDON Bloomberg CRUDE oil rose 2 per cent, approaching a nine-year high, as forecasts for a cold snap in Europe raised expectations for higher use of heating fuels. "Cold weather looks to be holding up the crude market for now," said Kevin
      Bloomberg  -  294 words
    • 393 12 TOKYO NYT PLANS to knock two zeros off the yen are gaining favour in Tokyo once again. Mikio Aoki, the Japanese government's chief spokesman, said on Thursday that the three-party coalition was considering changing the denomination of the currency,
      NYT  -  393 words
    • 836 12  -  LETTER I JIW M1 WTO deal has not put paid to Defying being the favourite bogeyman tn Washington leon hadar NOW that the United States and China have reached an agreement that would allow Beijing to enter the World Trade Organization (WTO), Congress will
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    • 532 13 TOKYO More bad loan provisions, but jump in stockholding value rescues situation Bloomberg Reuters JAPAN'S biggest banks, including Dai-Ichi Kangyo Bank, Sumitomo Bank and Sakura Bank, yesterday reported that first-half parent net income fell as much as 66 per cent, as
      Bloomberg; Reuters  -  532 words
    • 311 13 LONDON PC giant loses five days of production; deliveries delayed FT DELL Computer is struggling to catch up with customer orders after a computer virus forced it to stop production at its Irish personal computer plant for five days. Dell, the UK market leader,
      FT  -  311 words
    • 463 13 PEOPLE FT [LONDON] Gordon Brown, the UK's finance minister, may emerge as a surprise contender to be the new managing director of the International Monetary Fund (IMF). He has told a tiny circle of colleagues and friends he would consider heading the
      FT; FILE PHOTO  -  463 words
    • 507 13 E-COMMERCE VitaminShoppe.com sees biggest growth in traffic Reuters [NEW YORK] With the holiday shopping season in full swing, Internet retailers offering vitamins or toys, as well as online malls, have enjoyed the biggest gains in traffic, according to a report
      Reuters  -  507 words
    • 80 13 [NEW YORK] Amazon.comfounder and chiefexecutive officer Jeffßezos and Sotheby's president and chiefexecutive officer Diana Brooks posing in "The Shagmobile a 1998 customised Volkswagen Beetle from the film, "Austin Powers: The Spy Who Shagged Me in a showroom at Sotheby's in New York on
      AFP  -  80 words
    • 358 13 m NEW YORK They'll join forces to create Web business links for SMEs Reuters UK telecommunications group Cable and Wireless pic and computermaker Compaq Computer Corp on Thursday said they would join forces to create Web business links for small and medium-sized firms. Aiming at
      Reuters  -  358 words
    • 177 13 PALO ALTO, California Reuters SHARES of Agilent Technologies Inc, whose measurement products had been among the lesser-known assets at Hew-lett-Packard Co, surged more than 45 per cent on Thursday in a highly-anticipated public offering. HP said it raised US$2.l6 billion (553.6 billion) by
      Reuters  -  177 words
    • WORLD Watch
      • 69 13 AFX-Asia [TOKYO] Economic Planning Agency director-general Taichi Sakaiya said the US rate hike is a positive factor for Japan as it will prevent a deterioration in the US economy. "(The rate hike) is a plus psychologically on the view that US economic (growth)
        AFX-Asia  -  69 words
      • 55 13 Bloomberg [SEATTLE] Starbucks Corp, the largest US specialty coffee retailer, said fiscal fourth-quarter profit rose 27 per cent on increased sales at its stores and in supermarkets. Net income rose to U5532.4 million (5554.1 million), or 17 cents a share, from U5525.6 million, or 14
        Bloomberg  -  55 words
      • 64 13 Bloomberg [JACKSON, Mississippi] Ma World Com said its Sky Tel paging unit will offer nationwide wireless e-mail services starting in January. The new service, Sky Tel eLink, will be targeted at customers who send and receive large amounts of wireless information. Sky Tel eLink
        Bloomberg  -  64 words
  • Page 12 Advertisements
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  • FINANCE & commodities
    • 252 14  -  SSMELReports MSCI Singapore Index Daphne Tay, Jardine Fleming AKTKR two consecutive days or consolidation, the Singapore stock market perked up yesterday, heartened by Wall Street's 153 point overnight gain and expectations of a strong set of October trade data scheduled for release today. The market
      252 words
    • 149 14  -  MSCHUwaafttores Charlie Kuo Refco Singapore THE Simex MSCI Taiwan Stock Index futures gained yesterday as the continuing rise in the Nasdaq Composite Index might indicate more demands for Taiwan electronic products from their US counterparts. Foreigners' net purchase of NT52.97 billion (*****.9 million) of
      149 words
    • 238 14 ENERGY REPORT Reuters [LONDON] Oil prices blasted to new nine-year highs yesterday as traders took the chance to buy up early winter supplies in the fear they will soon get still more expensive. International benchmark Brent for January shot
      Reuters  -  238 words
    • 310 14 Reuters London THE euro held half a cent above recent four-month lows against the dollar yesterday, but was seen vulnerable to further losses if US stocks resumed their rally and fuelled US currency strength. The euro was trapped in narrow ranges above US$l.O3 throughout the European session, compared
      Reuters  -  310 words
    • Article, Illustration
      1117 14 MTERBA«CaOS8 KATES m c$ hi [OT fir Pt m$ Vw Wow m MZSWll N» S$ —< Sfr WS W>w< m Amtrilt 0.936 6.178 0.619 4062 1211 4.963 27.700 44.823 0.676 7.499 2.426 L25I 33.103 2SJ43 1066 3 926 0992 ***** ***** 0 395 0 639 2? »m i6H XZ JS!
      1,117 words
    • 1848 14 SICOM FUTURES Nov 19 RU88CR (Moras ctetaQ «it SJOpai) RSS 1 CONTRACTS ccntVka) CtOM VotaM OpM Mowtt High Law Sdt (tow—s) hrtorot Dec 99 113.75 1H75 114.50 300 Jan 00 117.50 600 Fefc 00 121.00 100 Mar 00 123.50 100 RSS 3 CONTRACT (US ctnts/kq) VotaM OpM Month HiqH Low
      1,848 words

  • STOCKS east asia
    • 2814 15 HONGKONG Reuters F1 Hang Seng +35L36 HONGKONG stocks closed higher for the ninth consecutive trading day yesterday, propelled by strong demand for blue chip Hutchison Whampoa Ltd. The Hang Seng Index closed up 351.36 points or 2.39 per cent at 15,073.10.
      Reuters  -  2,814 words
    • Article, Illustration
      960 15 Reuters CI Shenzhen B Index -LSI SHENZHEN'S A and B shares closed down yesterday on profit-taking, ignoring news that China will ease credit by cutting the bank reserve ratio. The central bank will cut the bank reserve ratio to 6 per cent of deposits from 8 per cent effective
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  960 words
    • 365 15 AFP n VP Index +52.75 TAIWAN share prices closed 0.7 per cent higher yesterday on follow-through buying on the back of overnight gains on Wall Street, dealers said. The Taiwan Stock Exchange Weighted Price Index rose 52.75 points to 7,770.81 in the fifth straight day rise. "Strong buying was
      AFP  -  365 words
    • 1979 15 TOKYO AFP OMktoiaS +38.83 SHARE prices in Tokyo yesterday rose 0.2 per cent to the highest close of the year as high-tech issues rallied after another record was posted on the US Nasdaq, brokers said. The key Nikkei average of 225 selected issues increased
      AFP  -  1,979 words
  • Page 15 Advertisements
    • 53 15 You never actually 7 PATEK PHILIPPE GENEVE own a Patek Philippe. You merely look after it for the next generation. The Annual Calendar. The first self-winding annual calendar watch with power reserve and moon-phase. Men's Annual Calendar ref: 5036/1. For information: Geneva Master Time, Tel: (65) 732 1506. www.patek.com Begin
      53 words

  • STOCKS klse
    • 8476 16 INDUSTRIALS COMMMF protects 1999 Last Vol Day Net Cap Hlfli Lm Company Solo 'OOP High Low P/E Smll 440 255 Ajinomoto 302 192 122.4 174 46 Angkasa 90 2 10 90 88.5 132.7 404 220 Apollo Food Hlg 312 2 3 312 310 7.4 124.8 294 115 BerjayaLand 173 4
      8,476 words
    • 405 16 AFP, AFX-Asia PI Composite Index +10.23 MALAYSIAN share prices ended 1.4 per cent higher yesterday due to buying interest in technology and blue-chip stocks ahead of today's nomination day for the general election, dealers said. The Kuala Lumpur Stock Exchange Composite Index rose 10.23
      AFP,; AFX-Asia  -  405 words
  • Page 16 Advertisements

  • SES clob & regional stocks
    • 3209 17 BOHDS A WARRANTS m M Ml U0n LMt *d tey LaiHeili n%m* Urn lam CaaM mm law Mm ri ■> i i I Mi *m- COM) mm Lew »*m M> Ma WMt Mn (%l lllitili UN 104 10.5 s 3160 A Acef W*****1 US$ 41 unch 108 41.5 41 41
      3,209 words
    • Article, Illustration
      783 17 AFP n SET Index THAI share prices closed marginally higher in slim trade yesterday as bargainhunting, mainly in communications stocks, helped pull the index off its lows, dealers said. The benchmark Stock Exchange of Thailand Index closed up 0.65 of a point at 411.55 in trade worth 3.09 billion
      AFP  -  783 words
    • 292 17 AFP CI Manila SM PHILIPPINE share prices fell 0.4 per cent yesterday due to continuing political uncertainty and pressure on the local currency, analysts said. The Philippine Stock Exchange Composite Index fell 8.06 points to 1,950.79. Volume was 20.85 billion shares worth 2.14 billion pesos. AFP Nm (UK MRC
      AFP  -  292 words
    • Article, Illustration
      720 17 AFP CI Composite Indei -3L31 INDONESIAN share prices closed 0.5 per cent down yesterday amid foreign selling on the back of concerns over the political situation in Aceh province and the Y2K millennium bug problem, dealers said. They said local punting on speculative stocks narrowed the fall in the
      AFP  -  720 words
    • 288 17 AFP fl Wellington +3UI NEW Zealand stocks rose 1.8 per cent yesterday on strong offshore markets and a sharp spike in Telecom's erratic share price. The NZSE-40 Capital Index was up 36.19 points at 2,096.00 on turnover of NZ$l7O.l million. Telecom rose 19 cents to NZ$B. AFP ■wl> Ki
      AFP  -  288 words
    • 601 17 AFP PAHOrfattUTM *au SHARE prices closed up 0.7 per cent yesterday to reach their highest level since July, thanks to continuing positive leads from Wall Street, brokers said. They said the market was led up by News Corp and Telstra ordinary shares. The All Ordinaries Index gained 21.1 points
      AFP  -  601 words
    • 310 17 AFP Q Composite Index +2242 THE Korea Stock Exchange Composite Index yesterday closed up 22.92 points at 993.11. Volume was 386.1 million shares worth 5.2 trillion won. —AFP mil *h Anam Saml ***** 50 BrwnTtCfl 2630 220 Central Bank 3120 -50 Chad Comm *****0 -t500 Dm Cu Bank 4390
      AFP  -  310 words
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  • 7582 18 BOARD Transaction date:Nov 19 Cmm+my £g U- °S£r *5 £S MULTMNOUSTRY si 25 5m c«n 3?5 T 3 H *42S 41 US5 42 4 IS K a 5 assess? es 5 r°-» ***** 525 50 10 Xl LS 2 320 154 m b 1053 Haw Par Corp 292
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  • Page 19 Advertisements
    • 225 19 Where to wine, dine and («>&& Select from our extensive a la carte buffet menu featuring 60 superb Sichuan and Cantonese gourmet delights. Lunch: #23 (Adult), #17 (Child) Dinner: #25 (Adult), #17 (Child) For reservations, please call 290 8005/299 9011. Prices subject to service charge &govt. taxes including GST Amiable
      225 words
    • 40 19 Rwl HOTEL QfUND COTTRAL UMITEO 22 Octant Hoad/Cavanagh Road, Sngapora *****7 T* 737 SS44 Ext 400*02 Fax: 733 3175 **»:> i +.v i*! x H K7v s} JP anisfl pi TeSSTa^n^l§ et^ <VIW Mexican J Mongolian lndl §P C huan Hainanese^
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    • 89 19 Introducino m cxcttino new ixMriinct in dinlnal W wwwwil vMwVvMVW VVVW fwl Wl PALACE A La Carta (92 diahee available!) $6.80 par main dish $2.80 par tim sum dessert Bami Buffet (Setect from a la carta menu!) $12.80 Lunch $16.80- Dinner Induda FREE flow of drinks! Set Menu (Lunch in
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    • 95 19 iTTTT u 1 Weekday Special Lunch Menu Y $4.50 nett per item 1 1 with FREE-CHOICE of one coffee/tea, soft drink or Chin Oww Katsudon |J (Deep Fried Pork Cutlet topped with Egg and Onion) I Stir Fried Tang Hoon I with Mixed Seafood H (Bean Vermicelli) ij Fried Rice
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    • 37 19 VSHHI til Coffeehouse calling all i HtNIOR i 22 Nov 1999 Mandarin QQ Sufgaporr _i 33J Ordufd Raid. Singiporr 2J8867. 712 2)61 You will find ir all here at Wine, Dine and Entertain. V .1:1 I I',
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  • Page 19 Miscellaneous
    • 885 19 h|| ||i VMltfMOtt ta Shaking (See Our 530 Sakalakala Vallavan. LOO AM Capital E. Choice) 6.00 Kaanbom Karpom S4 L3O Around Asia 4*2® AMRMpensc iy. 7.00 Saturday Night Movie: 030 Theem Thaka Theem 100 To 6.00 am: Real-time LOO PM TV Innovations. stay Tuned (See Our Sr2. Financial Data. 'f*'
      885 words
    • 277 19 UKYFTIC CROSSWORD ACROSS 5 Ptea to be happily employed (10) 7 Blow for abandoned pirate cap- 6 Glandular swelling with blood tain (4,4) around «(6) 9ls unable to get on in Switzerland Quite correct to serve lettuce, (6) say, to a lady (6) 10Waibte the wrong note (4) 13 Making
      277 words

  • The Arts
    • 1619 20  -  French Canadian troupe Cirque Du Soleil's fame has its roots in shrewd management as much as its enthralling acts, jaxbke ee gets a feel of its corporate sense before it performs next week at the Padang JAIME EE THERE'S nothing like having a circus in town
      SIEW YAW HOONG  -  1,619 words
    • 482 21  -  COVER STORY A celebration of life, Saltimbanco charms with thrilling acrobatic acts and emotive music By. Parvathi Nayar COME next week, Saltimbanco, meaning "street performer", is poised to sweep Singaporeans off the streets and into a performance that combines the spectacle of the musical with the
      FILE PHOTO  -  482 words
    • 1227 21  -  IT goes without saying that if Singapore wants to create a vibrant theatre scene of its own, it needs long-running shows —defined as anything running one month or more. Not only will it help to market Singapore as an important arts centre, it will also
      SIEW YAW HOONG  -  1,227 words
    • Article, Illustration
      1303 22 THEATRE Macbeth One of the oft-produced plays of William Shakespeare gets a new spin from Hi! Theatre, Singapore's only theatre of the deaf. Their production focuses on the dark world of Macbeth's paranoia. Nov 20 (8pm); Nov 20 (3pm) at The Guinness Theatre. Substation. Tickets: $15 available at
      1,303 words
    • Article, Illustration
      211 22 DESMOND Sim's The Swimming Instructor is the main play of the second batch of performances of The First 42 Theatre Festival, Action Theatre's opening celebrations for their new arts centre. The play starring Ix Shen, Emma Yong and Caleb Goh promises to combine different currents like romance and self
      211 words
    • 706 23  -  From explosive action to angst-ridden romance, SUSAW tsamo gets her fill from previewing the German Film Festival SUSAN TSANG THE German Film Festival features seven movies, and lasts just four days, from Nov 25 to 28. It might easily be missed by movie buffs
      706 words
    • 720 23  -  ART Vietnamese artist Le Thiet Cuong's spare conveys rich meaning By Parvathi Nayar AN exhibition rooted in strong colours and contemplativeness, 'Point Of View' is Le Thiet Cuong's third solo in Singapore. The work, done over the past two years, focuses on the landscape
      720 words
    • 571 23  -  By\ Susan Tsang THE opener for the German Film Festival ensures that the event takes off on the right foot, and at a good speed. Unlike so many German films which strive to be quirky but end up laboured, Run Lola Run is a
      571 words
    • 436 23  -  CONCERT PREVIEW By\ Sasan Tsang THE Academy of St Martin in the Fields will be playing here next week, and it should be a treat, but only for those who had the foresight to secure their tickets early. The concert, on Nov 24,
      436 words
    • 1179 24  -  Pianist Tedd Joselson tells bewamdtmh how settling in S'pore and a new Nafa job have given him peace after hectic years of giving concerts BENJAMIN LOH TEDD Joselson has decided to change the tempo of his life. When the Belgian-American pianist describes his concert schedule of
      ARTHUR LEE  -  1,179 words
  • Page 20 Advertisements
    • 104 20 Marketing art Three theatre companies tell how they sustain title audience's prolonged attention, els I card allows you to enjoy and support e arts Starting with this Cat Pitcher y '-">.• %f when you apply for the Gold card. There's ;.j more, as an OCSC Arts cardmember, you en J°y
      104 words
    • 18 20 Jk i&i*^Sn A llflA' Lfccv? ■gEflf" Pianist Tedd Joselson sharwtotomghts simplicity after hectic KAMI years of performing. ELS
      18 words


  • Page 22 Advertisements
    • 61 22 The Average Size and Performance of a PruLink Fund. jm it i JHlfl -9%» PruLink Singapore Managed Fund bJjK the largest unitised fund in Singapore. ,;S -X »L An unbeatable record with over $730 million by 90,000 people since its launch in 1992. DDI jT TMI/ INVPS IM NTS Probably
      61 words


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