The Business Times, 4 December 1999

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Total Pages: 26
1 26 The Business Times
  • 15 1 THE BUSINESS TIMES MITA (P) 046/12/98 85C SINGAPORE Internet: http://business-times.asial .com.sg/ SATURDAY, DECEMBER 4, 1999
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  • 63 1 sn 2227-81 (+0 51) BT-ai 843*36 (+1.22) flsmanmßßS U 308J0 (+1.00) STOCK KAtKET INDICES Friday Change KLSE COUP 724.63 -&19 NIKKEI 1&368.14 -14«L27 HANG SENG IM40.41 +237J7 SET INDEX 414.42 Si6 JAKARTA COMP —613.49 +15.06 MANILA OOMP —1,***** -16.11 TAIPEI WPt 7,933.17 ***** SEOUL COMP 966M -1.31 tWA
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  • 77 1 FOKEX BATES USI ss USJ 1.685 £(US$/SS per 1599 2.694 EURO(lS$/S$/E) 1.901 1.687 DM 1953 0.863 YEN 1013 1.648* RM 3.800 0.443 HK$ 7.773 0517 BAHT 38.90 0.043 RUPIAH 7,240 0 023 SS to 100 units PRIME EATES SINGAPORE 5.80 KUALA LUMPUR 7.25 JAKARTA 4000 BANGKOK 1000 MANILA 1100
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  • 545 1  -  It will pay $292 m for 19.6% stake from companies related to Tan, Ang families By Wong Wei Kong [SINGAPORE] In a move that will substantially change the shareholding complexion of Parkway Holdings, investment company Schroder Capital Partners (SCP) yesterday announced
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  • 65 1 Reuters [NEW YORK] US stocks soared a thundering 260 points yesterday morning after a report showed wages rose slower than expected in November, easing fears the US central bank would notch up interest rates before year's end. By noon the Dow Industrial was up
    Reuters  -  65 words
  • 1025 1  -  Praise for S'pore's skilful handling of agriculture From Yang Razali Kassim in Seattle AFTER the shock protests in the streets on Tuesday, there was relief at the meeting of the World Trade Organization here early yesterday as the world's trade ministers moved
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  • 955 1  -  -id exclusive StarHnb'splanto launch January commercial trial hangs in the balance By< Catherine Ong [SINGAPORE! Star Hub, Singapore's first full-fledged answer to Singapore Telecom, is slugging it out with the incumbent telecommunications operator even before competition is due to start on April
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  • Page 1 Advertisements
    • 80 1 DfSTOE Top stories S'pore firms' market worth jumps 12% in Nov. Pg 3 Ranking of S'pore companies by market cap. Pg 7 Pidemco Land appoints international advisory panel. Pg 10 Sabah imposes 10% gambling tax. Mmxt Pago S'pore must liberalise telecoms industry at faster speed and brace for keener regional
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    • 116 1 *m Singapore Dance Theatre: i imm i mm Ithe1 the 2 chairman. Page The Star Hub offer Report, Next Page Mm j dsyt/s/j I The movement Heir to watchmaking tradition IN SINGAPORE: Chopard Boutique, 435 Orchard Road no. 02-36. Wisma Atria. Tel. 65/737 64 51, Fax 65/235 82 00. Dickson
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    • 11 1 SPH pats off investment in Data One to 2001, Pg 3
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  • NEXT page
    • 549 2  -  Competitor P&cNet raises question of possible cross-subsidy By. Kenneth James [SINGAPORE] Budding telecommunications operator Star Hub yesterday blew the local Internet access game wide open by offering Singapore's first unlimited freesurfing plan. Announcing this to reporters last night, Star Hub president and CEO
      549 words
    • 624 2  -  Competition and convergence with IT make it paramount By Teh Hooi Ling [SINGAPORE] Singapore needs to liberalise its telecommunications industry at a faster speed and brace for keener regional competition, Deputy Prime Minister Lee Hsien Loong said yesterday. "The tidal wave
      SIEW YAW HOONG  -  624 words
    • ON THE grapevine
      • 90 2 A READER thinks that DBS Flash doesn't live up to its advertisement claim that it can deliver IPO results faster than the competition. He e-mailed us to say that OUB Buzz is actually quicker even when the IPO is managed by DBS Bank. The
        90 words
      • 85 2 THE organiser of a conference told us he was disappointed that 30 per cent of his conference's participants, primarily from the financial sector, did not show up at the event. It appears that because of the Y2K preparation, some banks have frozen all leave and turned down
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      • 177 2 PRIVATE investment bank Lazard Freres on Tuesday named Washington attorney Vernon Jordan Jr, a prominent figure in the Monica Lewinsky presidential sex scandal hearings, as one of the investment bank's senior managing directors, according to a Reuters report. "Vernon Jordan brings to Lazard an
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    • 378 2  -  BG Lee says it's not just for financial institutions By i Catherine Ong [SINGAPORE] The government is prepared to allow non-financial institutions to enter the stock broking business, Deputy Prime Minister Lee Hsien Loong suggested yesterday. Responding to a question from BT, BG Lee said:
      378 words
    • 137 2 The reason we've not been able to tell the public what we intend to do for the (commercial) trial is because we've not got a satitfactory agreement, with Sing Tel on access to their facilities during theperiod leading to the launch date.. .my concern is, tfthat does
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    • 394 2 Move sends shares of Sports Toto diving 8.7% Bloomberg [KUALA LUMPUR] In a sign that Malaysia has embarked on an Islamic course as a result of Monday's general election where the fundamentalist Parti Islam Se-Malaysia made significant gains, the Sabah state government
      Bloomberg  -  394 words
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  • SINGAPORE companies
    • 544 3  -  MARKET HETT* Second straight increase after 3-month losing streak and biggest monthly rise since Jane By Wong Wei Kong THE market worth of listed Singapore companies jumped 12 per cent last month from October, the biggest monthly increase since the 64 per
      544 words
    • 418 3  -  3 exchange By' Wong Wei Kong IF the experience of the re-cently-integrated Paris Bourse is any guide, the new Singapore Exchange (SGX) is likely to see increased volumes, but also possibly some job losses down the road. The Paris stock and derivatives exchanges
      418 words
    • 313 3  -  Decision follows concerns expressed by StarHnb By' Teh Hooi Ling SINGAPORE Press Holdings has deferred its investment in Singapore's fourth Internet service provider Data One to 2001 because of concerns expressed by Star Hub, which bought Cyberway from SPH earlier this year.
      313 words
    • 260 3  -  Mini mill By. Andrea Tan UNION Commodities, a subsidiary of the UIC Group, has bagged Balestier Mansion for $33.39 million by public tender. The 35,222 sq ft freehold site houses a five-storey apartment block of 31 units and is located off
      260 words
    • 430 3  -  By< Jennifer Lien SINGAPORE Press Holdings will form a joint venture with Swiss software provider Fantastic Corp to sell packaged content to broadband networks in Asia. The as yet unnamed joint venture will have initial capital of US$lO million (5516.8 million)
      SIEW YAW HOONG  -  430 words
    • 739 4  -  ISM4M lock slew siow li sen IT will be Christmas soon. And considering that what I would like to see in the annual reports of Singapore-listed companies isn't going to happen any time soon, I'll just make a wish list. First, it has to
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    • 323 4  -  Domestic loans rise 6.2% ye&r-on-ye&r to $146.2b in Oct By\ Siow Li Sen DBS Group Holdings shares closed at an all-time high of $23.10 yesterday on the back of a fast-recovering economy, as evidenced by the first uptick in month-on-month loans growth
      Source: Reuters  -  323 words
    • COMPANY Briefs
      • 66 4 JACKS International Ltd yesterday said it has received in-principle approval from the Singapore exchange for the proposed splitting of each of its $1 per value share into five shares of par value 10JO each, subject to shareholders' approvaL The company hopes to improve
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      • 110 4 GOLDTRON Ltd yesterday obtained a High Court order to convene a meeting of certain unsecured creditors for the purpose of approving a proposal to implement a supplemental scheme of arrangement between the company and the creditors pursuant to Section 210 of the Companies Act
        110 words
      • 48 4 HIAP Moh Corp said Joshua Ng Hock Hwa and NgTkmg Wah will retire as executive chairman and executive director respectively with effect from Jan 1,2000. From that date, Joshua Ng will be the non-executive chairman and Ng Tiong Wah will be a non-executive director.
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      • 52 4 IN yesterday's BT report under the headline "Poh Lian pays about $47 million for Alexandra apartment site", we indicated that the Tay Miang Huat group's distillery site was sold by a private tender which closed on Nov 5. The group has clarified that the tender was a
        52 words
    • 610 8  -  Disastrous investment cost it nearly $90m; rights issne planned at $1.20 a share By' Teh Hooi Ling TRANSMARCO Ltd has finally provided for its Sri Lanka telecom project in full a disastrous investment which cost the company almost $90 million.
      ARTHUR LEE  -  610 words
    • 268 8 HAI Sun Hup Group yesterday announced a 21 per cent rise In net profit to $12.5 million for the six months ended Sept 30 as turnover rose 30 per cent to $209 million. The company attributed the improvement in turnover to revenue from
      268 words
    • 234 8  -  By I Siow Li Sen THE Securities Investors Association (Singapore) yesterday appealed to bankers to give Clob investors more time to settle debts relating to the frozen Malaysian shares. A letter from SIAS president David Gerald Jeyasegaram addressed to Ernest Wong as chairman
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    • 202 8 MANUFACTURING Integration Technology's public offer closed yesterday with a strong subscription rate of 182 times. The company said it received 74,562 applications for the 5.5 million public offer shares. Applicants poured in $561.8 million seeking just over a billion shares. Of the 49.5 million placement
      202 words
    • 252 8 SIM Siang Choon ended its trading debut yesterday on Sesdaq with an 11.7 per cent premium over its initial offer price of 30 cents a share. The kitchen and bathroom products retailer offered 25 million new shares, of which five million shares were for
      Source: Reuters  -  252 words
    • 3821 8 Nptpprn IM LlmKphNgpm Sop 28 I M419L 69.49H. KM. 61L &4tP TV LV TV IY IwMnUM SPP 24 I 1072 2476L OM 121 Cimpppy MM* <$w> ($m) <ptp) <ctt) LlnO-jpcprtorp Sw 06 I ***** ***** 740 LSI Llpn Aplpppe S«H P 1.887 4.784 0.89 2.01 A66Hld9»
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  • Page 3 Advertisements
    • 26 3 Win t trip to Hamburg and be pampered at a Raffles International Hotel Jahreszeiten nil ITJMif HTPTiaiFI Krljl till I >ii li> ml I 1 MJ[
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    • 5 3 Full rankings on Pg 7
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      253 words

  • Page 4 Advertisements
    • 139 4 1 Raffles Holdings Limited INITIAL PUBLIC OFFERING 300,000,000 New Shares at 550.85 each "l CLOSING 9 December 1999, 8:00 a.m. Applications for Offer Shares may only be made by way of printed Application Forms or Electronic Applications as referred to in the Prospectus dated 1 December 1999. Applications for Placement
      139 words
    • 94 4 Sales Rep: Experienced sales closer who rates at $10-15,000 month for a local, regional and international advertising product Proven in Australia and SE Asia. Sales rep must be confident, focussed, hard working, organised, computer literate (preferably with own laptop computer), know how to close a sale and be able to
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  • Page 5 Advertisements
    • 213 5 EXCLUSIVELY FOR SPH NEWSPAPER READERS Get your Saltimbanco" Millennium tickets "t v emtigL at special prices. 'jjjj&f Today only! Time: 12 noon to 6pm \lenue. Saltimbanco booth, Level 2 o, The Westin Stamford Westin Ptaia 1 Official Media Singapore Press Holdings jMSik Newspapers < Mmfw BBfc jm| Watch Saltimbanco and
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  • SINGAPORE markets
    • 198 6  -  WARRANT WATCH By: R Sivanithy IN a few months' time, there will be a whole slew of warrants expiring. Given that all sorts of odd things seem to happen to both the shares and warrants when expiry draws near,
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    • 441 6 Stocks Vofcan* StmSiangC 5c 32,538,000 Asia FoodAProp US$ 15,248,000 SingTel 15c 12,226,000 MediaRinglOc 12,013,000 Excel 20c 8,622,000 GMG Global 5c 8.227,000 ChuanHup20c 7,992,000 Ho Bee 5c 7,840,000 China Toll 20c 7,776,000 Asia Dekor HK15c 7,702,000 Stock* DflSGrp 72,482,845 SingTel 15c 40,121,900 SIA 27,438,209 Keppel Corp 23,283,780 UOB 23,062,795 OCBC 21,894,927
      441 words
    • 547 6  -  I :j i comment STOCKS r.sivanithy AFTER an uncertain start, equities yesterday responded finally to a firm showing on Wall Street, thanks mainly to a modest institutional inflow that targeted banks and electronics stocks. There were also isolated plays on a
      547 words
    • 258 6  -  HOT STOCK By Wong Wei Kong THE anticipation of a major announcement drove Parkway Holdings shares sharply higher yesterday and made it one of the session's most actively traded issues. Parkway closed up 18 cents, or 5 per cent, at $3.80, after having opened at
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    • 119 6 Saturday, Deo 4 ♦10.30 am. Fair Price launches the festival market in Hougang. Venue: No 1 Hougang Street 91, Hougang Point ♦11am. Annual Airport Reception '99 at Changi Airport. Guest of honour; Minister for Communications and Information Technology Yeo Cheow Tong ♦2pm. SCCCI and RCS seminar on
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    • 460 6  -  -H comment CURRENCIES larry wee EUROLAND'S 11-month-old currency hovered precariously on the brink of key psychological support at one US dollar, and matched a record low against the Japanese yen in Asian trading yesterday afternoon. Players said that only options-related plays and
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  • Page 6 Advertisements
    • 431 6 HASSAN'S ASSETS of Past Generations VALUE for Future Generations Respectfully and Powerfully Announce IMPORTANT RESTRICTED HIGH EXCELLENCE LEVEL LOYALTY AUCTION INTERNATIONAL STANDARD CLASSIC CARPETS DIRECTED AT SINGAPORE'S PERCEPTIVE AUDIENCE High Level Selection skimmed from Singapore Inventory Destined for Europe's Important Specialist Dealers Superb Rare Persian Powerful Ottoman Central Asian Examples
      431 words
    • 14 6 Want to talk investments with your peers? Join our forum at "http.//iol.dbs. com.sg" qdivsbANK
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    • 11 6 Euro plunges below USSparity; central banks shy of intervention, Pg 14
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  • Page 9 Advertisements
    • 82 9 o MONT° BLANC In times that are changing ever t e ryiom^ent% ■k: iftfe, -ay j| m.A Wmf Chronograph Stainless Steel ShßbmL 1 v'. > JF ll i^ t JH v Montblanc Boutiques Writing Instruments Watches Leather Jewellery Eyewear Montblanc Boutiques: Ngee Ann City #01-34, Raffles City #01-37 A, Paragon
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  • SINGAPORE news
    • 804 10  -  I-II exclusive Panel of seven includes head honchos from Lend Lease, ING Real Estate and Grosvenor By] Kalpana Rashiwala PIDEMCO Land has become the first Singapore property group to appoint an international advisory panel (lAP) to help it expand
      ARTHUR LEE  -  804 words
    • 275 10  -  They're in second group of investors raising USsBom From< Quak Hiang Whai in Hongkong TEMASEK Holdings and Hongkong-listed Pacific Century Cyberworks (PCC) are on the list of investors which have participated in a second round of equity funding for Equinix Inc, an operator of
      275 words
    • 194 10 THE business school of the National University of Singapore has teamed up with publisher McGraw-Hill Book Company to cultivate the publication of books on Asian business. Yesterday, the two parties signed a memorandum of understanding (MOU), the first of its kind in Singapore.
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    • 674 10  -  By, Anna Teo BEHIND the relatively rosy thirdquarter economic figures were some negative numbers that indicated a sharp slowdown in the growth mo- mentum. They weren't unexpected and aren't a big cause for concern; not yet, anyway. The Ministry of Trade and
      674 words
    • 128 10  -  MAILI^I Patrick Teh WE refer to Mrs S Lee's letter, "City Cab driver cheated maid" (BT, Dec 3). We are indeed thankful to Mrs Lee for the feedback. We would like to seek the assistance of Mrs Lee and her maid to
      128 words
    • 554 10  -  Byt Corinne Kerk OKAY, so the third millennium doesn't really start until Jan 1, 2001. But this doesn't change the fact that 2000 is a nice, round number and a good time to look back at the past 1,999 years. So if
      CHRIS LOH  -  554 words
    • 275 10 Reuters, Bloomberg TEIJIN Polycarbonate Singapore Pte Ltd will increase existing capacity at its 60,000 tonnes per year (tpy) plant by the fourth quarter of 2000 to meet a rise in demand for the resin used in making compact discs. "As the
      Reuters,; Bloomberg  -  275 words
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  • MALAYSIA news
    • 425 11 KUALA LUMPUR Move will help ease harden of companies' project debts totalling RM6.2b Bloomberg MALAYSIA may take over Kuala Lumpur's monorail system, bailing out Renong Bhd and other companies that are struggling to repay the 6.2 billion Malaysian ringgit (S$2.75 billion) debt
      Bloomberg  -  425 words
    • 238 11 KUALA LUMPUR Stocks hit by Sabah move to slap 10% tax on lottery sales AFP MALAYSIA'S stock market is expected to remain weak in the coming week on concerns over gambling-related shares, analysts said yesterday. One analyst said the concerns were affecting
      AFP  -  238 words
    • MARKET moves
      • 76 11 Y2K concerns and book closures have led to selling of blue chips by funds, analysts said. Amongst the bigger blue-chip losers yesterday were Rothmans, Telekom and Commerce Asset Holding, and analysts believe the selling was done mainly by funds because the volumes traded
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      • 70 11  -  Compiled by Ruth Wong SHARES of property-based Bolton Bhd fell 13 sen or 5.2 per cent to RM2.37 yesterday after the company announced that its sale of a 32 per cent stake in Kejora Harta to businessman Samsudin Abu Hassan had been delayed
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    • 227 11 KUALA LUMPUR Reuters IN THE fourth such case this week, a Malaysian dealer at a local stockbroking company was fined RMBO.OOO (5533,685) by a court yesterday on three charges of short-selling, the Bernama news agency said. Yeo Kok Keong, a remisier with Jupiter Securities Sdn
      Reuters  -  227 words
    • 570 11  -  bank mergers Broking house sees it tying np with EON, Pacific banks, and BankUtama FYorn Diana Oon Abdullah in Kuala Lumpur NEW groupings in Malaysia's revised bank merger plan could mean that Azman Hashim's Arab-Malaysian group will end up as the
      FILE PHOTO  -  570 words
    • 301 11 I KUALA LUMPUR Bernama THE east coast highway will not extend into Terengganu as the state government has decided to abolish tolls, Works Minister Samy Vellu said. "This is due to various decisions made by PAS (Parti Islam SeMalaysia) overnight,
      Bernama  -  301 words
    • 195 11 KUALA LUMPUR AFP THE head of a Malaysian government land development agency was charged in court yesterday with criminal breach of trust involving 40 million Malaysian ringgit (5517.7 million) in agency funds, Bernama news agency reported. It said Mustapha Juman, director-general of the
      AFP  -  195 words
  • Page 11 Advertisements
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    • 595 11 PEK SIN CHOON PRIVATE LIMITED (Incorporated in the Republic of Singapore) LOST SHARE CERTIFICATES (LOCAL) Notice is hereby given that the following share certificates have been reported lost: Name Certificate No. No. of Start* Pek Bok Kim 4 5.000 Pek Bok Kim 16 625 Pek Chin Seng 9 2,500 Notice
      595 words

  • SOUTH east asia
    • 526 12  -  Pin Chakkapak to face charges of misappropriating I.Bb baht From Harish Mehta in Bangkok THAILAND is seeking the extradition from Hongkong of Pin Chakkapak a former high-flying president of the once-biggest finance company, Finance One, who fled to the US and
      FILE PHOTO  -  526 words
    • 66 12 [LAEM CHABANG, Thailand] Smoke billowing from a hugefire at the Thai Oil Co's storage tank yard in Laem Chabang, south-east of Bangkok, yesterday. At least two people were killed and 13 injured when the fire broke out late on Thursday night. The company, Thailand's
      REUTERS  -  66 words
    • 300 12 MANILA Bloomberg PHILIPPINE Securities and Exchange Commission chairman Perfecto Yasay denied that President Joseph Estrada told him to cover up a probe into BW Resources Corp over alleged price manipulation and insider trading. Mr Yasay issued a statement
      Bloomberg  -  300 words
    • 310 12  -  Vikram Khanna A KEY US government agency providing financial support for US corporate investments abroad has witnessed a sharp decline in its activity in Asia this year. For the year to date, the Overseas Private Investment Corporation (Opic), which provides political
      310 words
    • 127 12 JAKARTA Reuters INDONESIAN state oil and gas firm Pertamina said yesterday that US-based Mobil Corp had suspended exploration in the restive province of Aceh because of fears of unrest, but production was unaffected. A Pertamina official said most of Mobil's exploration activities in Aceh
      Reuters  -  127 words
    • 443 12 BANGKOK Investors believe, with an AMC set np, upside will be quite big, say analysts AFX-Asia INVESTORS remain interested in Krung Thai Bank and see potential for the stock over the longer term despite the high risks generated by the political controversy
      AFX-Asia  -  443 words
    • NOTE Book
      • 58 12 Reuters [PHNOM PENH] Rumours that sick pigs had been Imported to Cambodia have huct pork sales, market vendors said yesterday, but the government said therar n was no truth to the talk. Cambodian newspapers and a private radio station have in recent days carried
        Reuters  -  58 words
      • 86 12 Bloomoerg [MANILA] The Philippine government seized a resort complex from Mondragon International Philippines for unpaid bills just a day after the cash-strapped developer said it sealed a pact to refinance its debt. Clark Development Corp, which oversees the former US Air Force base where the Mimosa
        Bloomoerg  -  86 words
      • 54 12 AFP [BANGKOK] Thailand's tourism industry posted robust growth of 11.1 per cent in the nine months to September, the Tourism Authority erf Thailand said yesterday. Some 6.2 million tourists visited the country in the period, reflecting a strong performance in low season months May and
        AFP  -  54 words
      • 75 12 Bloomberg [MANILA] Metropolitan Bank Trust Co said it asked Bank of Nova Scotia to approve its takeover ofSolidbank Corp, in an attempt to head off a battle over the Canadian lender's 40 per cent stake. IfMetrobank —which is bidding for a 51 per cent stake
        Bloomberg  -  75 words
      • 39 12 Reuters [BANGKOK] Thai property developer Tanayong said on Thursday it would try to buy back more shares in its Bangkok skytrain venture which Credit Suisse First Boston had bought from Tanayong creditors. —Reuters
        Reuters  -  39 words
    • 742 12 JAKARTA Analysts say counter would appeal mainly to speculators Reuters SHARES in Indonesia's scan-dal-hit Bank Bali dived 10 per cent yesterday when they resumed trading after being suspended for more than three months of controversy, conflict and management upheaval. An early sell-off
      Reuters  -  742 words
  • Page 12 Advertisements
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      151 words

  • EAST asia
    • 481 13  -  Suit alleges that the movie tycoon breached a HKslolm loan agreement Fronv Quak Hiang Whai in Hongkong CHASE Manhattan Bank is taking Raymond Chow to court for allegedly breaching a HK$lOl million (5521.9 million) loan agreement after the entertainment company of the
      481 words
    • 260 13 BEIJING Reuters CHINA plans to set up a big brokerage next year by merging the securities operations of five trust and investment companies as part of the country's financial reforms, trust officials said yesterday. The brokerage, to be called
      Reuters  -  260 words
    • 433 13 SINGAPORE It's now China's smallest oil producer after Sinopec takeover of CNSPC Reuters SINOPEC'S takeover of China New Star Petroleum Corp (CNSPC) has relegated China National Offshore Oil Co (CNOOC) to the country's smallest oil producer and raised questions about its future, analysts and industry sources
      Reuters  -  433 words
    • 328 13 HONGKONG Ruling sparks angry protests by mainland Chinese Reuters HONGKONG'S highest court said yesterday that China had the right to reinterpret the territory's law, sparking angry protests by mainland Chinese who had claimed constitutional backing to live in the territory.
      Reuters; REUTERS  -  328 words
  • SOUTH asia
    • 418 13 ISLAMABAD Panels will focus on nine areas from politics to the economy Reuters FIFTY days after overthrowing an elected government, Pakistan's new military-led regime on Thursday announced a series of thinktanks to steer Pakistan out of poverty towards "genuine democracy". The think-tanks will focus
      Reuters; REUTERS  -  418 words
    • 200 13 NEW DELHI Reuters INDIA'S Maruti Udyog Limited (MUL) may launch its Wagon R small car in the domestic market this month, a senior company official said on Thursday. The launch was likely to coincide with a proposed visit by Osamu Suzuki, head of
      Reuters  -  200 words
    • 498 13 BOMBAY Industry expects big jump in amount of premiums collected with liberalisation Reuters PREMIUMS collected by insurance firms in India could rise to between US$33 billion (5552.8 billion) and US$39 billion annually in the next 10 years from US$6 billion at present,
      Reuters  -  498 words
    • 170 13 NEW DELHI AFP THE passing of a landmark insurance bill on Thursday by the Indian Parliament here saw the ruling coalition and opposition Congress party united in cause and confusion, press reports said yesterday. Both Prime Minister Atal Behari Vajpayee and Congress leader Sonia Gandhi managed
      AFP  -  170 words

  • WORLD news
    • 276 14 WASHINGTON Bloomberg THE US jobless rate held at a 29-year low of 4.1 per cent, wages rose less than expected and job growth slowed in November, government figures showed yesterday. The economy added 234,000 jobs last month, the Labor Department said. That follows a
      Bloomberg  -  276 words
    • 721 14 SEATTLE It's seen as aimed at winning support of powerful US labour unions for polls Reuters AFTER months of painstaking talks on adding labour standards to the World Trade Organization (WTO) agenda, President Bill Clinton's top trade negotiators believed they
      Reuters  -  721 words
    • 862 14  -  S'pore, Jakarta in move to extend moratorium on e-commerce taxes From Yang Razali Kassim in Seattle A SECOND global agreement on information technology looks set to be achieved despite strong resistance from Malaysia, one of the aspirants for IT leadership in Asia. The
      862 words
    • 223 14 Reuters [NEW YORK] The 20th Century Sports Awards presented by Sports Illustrated magazine: Athlete of the Century: Muhammad Ali Bnnrthnll Winner: Babe Ruth Other nominees: Henry Aaron, Lou Gehrig, Walter Johnson, Willie Mays, Ted Williams Winner: Michael Jordan Other nominees: Kareem Abdul Jabbar, Larry
      Reuters; REUTERS  -  223 words
    • WORLD Watch
      • 70 14 Reuters [LONDON] Britain's financial watchdog has started monitoring retail stockbrokers amid signs firms are stretching to cope with a surge in trading by private investors, The Times newspaper reported yesterday. Drawn by the lustrous performance of many technology and telecommunications stocks, the daily
        Reuters  -  70 words
      • 119 14 Reuters [NEW YORK] A pocket watch was auctioned at Sotheby's on Thursday for US$ll million (5118.5 million), the most ever paid for any timepiece anywhere in the world and about three and a half times the previous record for a timepiece. Sotheby's said an
        Reuters  -  119 words
      • 59 14 Bloomberg [MOSCOW] Russian legislators approved an 855 billion rouble (5554.3 billion) Budget for next year that anticipates about 17 per cent of spending will be financed by foreign loans the government has no guarantee it will receive. The Duma, Russia's lower house of parliament, approved
        Bloomberg  -  59 words
      • 68 14 AFP [SEOUL] South Korea's Financial Supervisory Commission (FSC) yesterday said a dispute between foreign and local creditors ova* how to handle the overseas debt of the Daewoo Group would be settled next week. The forecast by FSC chief Lee Hun Jai came after months
        AFP  -  68 words
    • 712 14  -  Currency traders predict risk of farther decline From Neil Behrmann inLondon THE euro plunged below parity with the US dollar for the first time yesterday after the world's three leading central banks signalled they would not defend exchange rate
      712 words
    • 575 15 NEW YORK Greater competition in store as Big Board frees biggest firms to trade liquid stocks on ECNs NYT BOWING to pressure from the Securities and Exchange Commission (SEC), directors of the New York Stock Exchange (NYSE) voted unanimously on Thursday to
      NYT  -  575 words
    • 244 15 WASHINGTON NYT THE US Justice Department said on Thursday that it had hired New York investment bankers to help determine the financial impact of various proposals for restructuring Microsoft or changing its business practices to resolve the anti-trust case. The department said Greenhill
      NYT  -  244 words
    • 542 15 AFP [SEOUL] President Kim Dae Jung yesterday declared that South Korea has completely overcome the financial crisis and forecast per capita income to double by 2003, but the IMF warned against complacency despite the dramatic recovery. Mr Kim, who led his
      AFP  -  542 words
    • 482 15 OBITUARY Bloomberg AFP, Reuters [NEW YORK] Edmond J Safra, the Lebanese-born businessman who founded one of the world's biggest private banks and sold it for US$lO billion (Ssl6 billion) earlier this year, was killed yesterday in an arson attack on his Monaco penthouse apartment. Mr
      Bloomberg; AFP,; Reuters; AFP  -  482 words
    • 485 15 TOKYO Its top chipm&kers are hampered by losses over last two fiscal years Bloomberg JAPANESE chipmakers are trailing the rest of the world in a shift to larger size silicon wafers, a move needed to cut costs and remain competitive, chip industry
      Bloomberg  -  485 words

  • Page 15 Advertisements
    • 450 15 BUSINESS DEVELOPMENT THE JOB to the Business Development, you be for identifying and developing new business opportunities. This includes the identification of customers and the development of a clear understanding of their short and long term technological needs. On top of working with senior staff At the Environmental Technology Institute
      450 words

  • FINANCE & commodities
    • 281 16  -  SGX Derivatives Ttadlng/feporte MSCI Singapore Index Daphne Tay, Jardine Fleming THE Singapore stock market closed barely changed yesterday in the absence of major market-moving news. Investors were also sidelined ahead of the weekend. The Straits Times Index closed up 0.51 of a point, or 0.02
      281 words
    • 140 16  -  MSCI Taiwan Mares Lee Shu Weng Refco Singapore THE SGX MSCI Taiwan Stock Index futures closed sharply higher yesterday at 363.2 as short-covering pushed the futures to trade at a premium against cash. The underlying cash index continued its upward momentum for the third day,
      140 words
    • 242 16 ENERGY REPORT Reuters [LONDON] Nervy oil markets dithered yesterday with traders torn between fears of more disruption to Iraqi supplies and hints that Opec could raise output if prices stay too high for too long. Benchmark Brent futures for
      Reuters  -  242 words
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      1,718 words
    • 309 16 Reuters New York THE dollar, buoyed by a friendly US employment report, kept the European single currency under pressure in early New York trade yesterday. "You can't fight this US success story. The trend is definitely lower for the euro," said Greg Schwake, currency trader at Commerzbank. The
      Reuters  -  309 words
    • Article, Illustration
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      1,092 words

  • STOCKS east asia
    • 2826 17 HONGKONG Reuters -11 Hang Seng +237.37 HONGKONG stocks closed higher yesterday, defying predictions of a correction ahead of the weekend and US interest rate-sensitive data. The Hang Seng Index closed up 237.37 points, or 1.52 per cent, at 15,840.41. Turnover was HK515.13 billion, up
      Reuters  -  2,826 words
    • 2038 17 TOKYO AFP Nikkei 22S -***** SHARE prices in Tokyo closed 0.8 per cent lower yesterday as investors closed out their positions ahead of the weekend, brokers said. The Tokyo Stock Exchange's Nikkei 225 index fell 146.27 points to 18,368.14. But the broader Topix index of all
      AFP  -  2,038 words
    • Article, Illustration
      1026 17 Reuters n Shenzhen B Index -019 SHENZHEN'S hard currency B shares closed down slightly in thin trade yesterday with no good news seen on the horizon to cheer investors before the year-end, brokers said. The B share index fell 0.19 point, or 0.22 per cent, to 82.51 as turnover
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  1,026 words
    • 365 17 AFP P|WP Index +12&91 TAIWAN share prices closed 1.6 per cent higher yesterday, buoyed by an overnight rally on the technology-heavy US Nasdaq Composite Index and the government's stimulus package for the conventional manufacturing sector, dealers said. The Taiwan Stock Exchange Weighted Price Index surged 126.91 points to 7,933.17
      AFP  -  365 words
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  • STOCKS klse
    • 452 18 AFP, AFX-Asia Q Composite Index -BJ9 MALAYSIAN share prices closed 1.1 percent lower yesterday with losses across the board on foreign selling, aggravated by weak sentiment in gaming stocks after the Sabah state government decided to impose a 10 per cent tax on lottery
      AFP,; AFX-Asia  -  452 words
    • 8345 18 INDUSTRIALS Consumer products 1999 L»»t Vol Day N.I < Mlqh Low ComMay Sato '000 High Uo p/t t Ma 2 A|inomo(° 300 10 1 300 300 »9.0 12 174 46 Anqli«sa 85 -3 21 88 AS i?« 404 220 Apollo Food Hlg 320 5 76 Jfg ft&TJ L 4 d
      8,345 words
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  • SGX clob & regional stocks
    • 2598 19 BONDS A WARRANTS Decs "'J***.- U* W Infill. kn ImmlUm Urn CaaM f »f u* *rn- rnn u» gg> nasr w w m> Bawm uw 104 10.3 i 3160 "Acaf W*****1USS 40 unch 140 40 40 40 40.5 33.1 1 1M 77 2.78 19 80 14.5 > 3164 Acma W*****4
      2,598 words
    • 303 19 AFP Composite Index -L3l THE Korea Stock Exchange Composite Index yesterday closed down 1.31 points at 966.59. Volume was 256.7 million shares worth 3.7 trillion won.—AFP D(C 1 »K An»m Soml ***** -1450 Br Mi Tocti 2050 -5 Control Bon* .2590 -K> Choll Comm *****0 5500 DM OU Bon*
      AFP  -  303 words
    • 233 19 AFP kJ Manila -l&ll PHILIPPINE share prices closed 0.8 per cent lower yesterday as foreigners sold their shares due to a lack of confidence in the political ana financial situation, analysts said. The Philippine Stock Exchange Composite Index fell 16.11 to 1,936.90.— AFP "".i (OOP) MRCAMIad 0.71 -0.02 520
      AFP  -  233 words
    • 286 19 AFP *ISJ NEW Zealand share prices rose 0.8 per cent yesterday as Telecom provided most of the muscle for the main index's rise, with volumes boosted by a big off-market trade. The NZSE-40 Capital Index finished up 15.9 points at 2,117.15 on turnover of NZ$95 million. —AFP nci m
      AFP  -  286 words
    • 584 19 AFP HAD Ordmaritti +12*8 AUSTRALIAN shares closed 0.4 per cent higher yesterday, boosted by News Corp's rise to record levels and a strong performance by technology stocks after overnight gains on the US Nasdaq index, dealers said. The All Ordinaries Index closed up 12.8 points at 3,086.80. The All
      AFP  -  584 words
    • Article, Illustration
      790 19 AFP SET Index jjj THAI share prices closed 1.3 per cent weaker yesterday, led down by the energy sector amid concerns over the impact of a huge fire at a Thai Oil Co refinery, dealers said. The market also lost ground as investors cashed out ahead of a long
      AFP  -  790 words
    • Article, Illustration
      678 19 Reuters FlOwipoat* Index jMj INDONESIAN stocks closed 2.5 per cent higher yesterday, driven up by gains in blue chips on growing optimism that the anniversary of the founding of the Aceh separatist movement at the weekend will pass without unrest. A major focus was Bank Bali shares, which resumed
      Reuters  -  678 words
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  • 8775 20 MM wmim mill i«B«* n■>— ii MAIN BOARD Transaction date: Dec 3 Or Or M Wt 52-Wk Last Vol Day La It OuoU Wv Otv VM Net Cap A»g High Law StNo Company Saia (OOO) High Loo Buyar Salter C'vr M SaalMhice MULTI-INDUSTRY 182 17.5 m b 1000
    8,775 words
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  • The Arts
    • 1224 21  -  This year's winner of the Mcmtblanc De La Culture award for arts patronage, Michael Hwang, tells sdsamtsaxo howhe came to be involved in the arts, but downplays his contributions. SUSAN TSANG WHEN it comes to his part in promoting the arts, it is best not to
      1,224 words
    • 768 22  -  DANCE By\ Susan Tsang THE Singapore Dance Theatre ends the millennium with a wealth of dance. They will have two back-to-back seasons, showing two very different aspects of the terpsichorean art. As an added bonus, audiences will get to enjoy "live" music for
      SIEW YAW HOONG  -  768 words
    • 708 22  -  sdsamtsamo finds out how the Singapore Dance Theatre jungles its finances while fulfilling its mission SUSAN TSANG If you think of ballet as dancers tiptoeing on stage to classical music, and entertainment only for culture vultures, you'll be a target for education by the
      708 words
    • 545 22  -  THEATRE My Lonely Tarts is more plot driven than Chiang's previous works By Susan Tsang MICHAEL Chiang, who gave audiences sweet, light confections like Beauty World, dispenses with ingredients like song and dance, and even jettisons much of the joking in cooking up My
      SIEW YAW HOONG  -  545 words
    • 482 22  -  DANCE A musical looks at the roots of this fiery dance and where it's heading to By, Joanna Lim TANGO 2000. Provocative and smouldering, it's so hot it burns an unforgettable image in the mind. If truth be told. Tango 2000 was conceived
      ALPHONSO CHAN/ST  -  482 words
    • Article, Illustration
      1474 23 Compiled by M Yasotha/ Parvathi Nayar FILM French Film La Guerre des boutons Schoolboys of two French villages, Longeverne and Velrans are constantly at war. After the first battle, the Longevernes have a prisoner and their leader, Lebrac, hits upon the idea of getting the prisoner into trouble
      Compiled by M Yasotha/ Parvathi Nayar  -  1,474 words
    • Article, Illustration
      244 23  -  Byl Parvathi Nayar THE Buzz: A successful Chinese lad in America who is extremely happy with his male white lover gets married to an artist looking for a green card to please his parents. In other words, The Wedding Banquet a delightful concoction of Asian values, side-splitting farce and
      244 words
    • Artistic Y-earnings
      • 767 24 Awardee Section: Anthony Poon The winner of the 1990 Cultural Medallion Award says art is never easy in this part of the world, bnt he has no regrets about coming home Global Link and Mobility, two large sculptures in the Awardee section of Nokia Singapore
        767 words
      • 485 24 Open Section: Luis Lee Aiamuma] preoccupation is handled humourously and intelligently ARTIST Luis Lee has mixed feel ings about corporate and competi tive art shows. But he feels that NSA 99, with awards aimed at students and offering different kind* of events "does give space
        CHRIS LOH  -  485 words
      • 774 24 Curated Section: Vincent Leow Ideas are the raw materials for this artist's social comments ARTIST Vincent Leow is participating not just in the curated section of NSA 99 but also in four other associated shows of this visual arts festival Mixage, Ambulations,
        ARTHUR LEE  -  774 words
    • 989 25  -  Acappella group In-A-Chord celebrates its 12th year with a Christmas album. The members tell joamma um how they keep going JOANNA LIM PROM university to high-flying careers editor at a media group, sales engineer, creative consultant. Time to bask in the fruits of your labour, right? Wrong.
      SIEW YAW HOONG  -  989 words
    • 331 25  -  MUSIC By\ Parvathi Nayar It is an experiment that they hope will become a yearly event on the Singapore arts scene a contemporary music festival. Singapore Music Fest which opened on the 26th lasts until tomorrow, after which organisers Music and Movement plan to
      331 words
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    • 87 21 you the things love the because helps to j£^arts Every time you we pledge a percentage the amount ap -jy l) ffffif to help musicians, sculptors, painters, S". y tv* f 7 -isjm-. M- actors and dancers in Singapore stand on v their feet. In return, youll enjoy priority leading
      87 words
    • 26 21 That tarty taste Susan Tsang bites into a new play eu Artistic yearnings Profiles of three artists featured in Nokia Singapore Art 1999, el 4 r^Uft
      26 words


  • Page 23 Advertisements
    • 48 23 The Average Size and Performance of a PruLink Fund. Sfcr PruLink Singapore Managed Fund the largest unitised fund in Singapore. Kf 1 ■SSk |kMhL An unbeatable over $730 million by people Ddi tT tisjk^ INVESTMENTS P bab 'r best managed funds today Always Listening. Always Understanding. PRUDENTIAL >Jf
      48 words


  • Page 25 Advertisements
    • 64 25 Carry a DBS Credit Card, and you'll carry the power of Purchase Protection, where your purchases are automatically covered against theft, loss or damage for up to $60,000 per annum*. As well as a low lost card liability of just $100 and free travel insurance. Plus free protection on outstanding
      64 words
    • 42 25 Calendar of Events: Dec 4, Bpm, 'Dick Lee's The Mad Chinaman 10th Anniversary Concert', Sparks Disco, Tickets, $35; Dec 5,11am-10pm Music Day at the Youth Park', Youth Park, Somerset Road, Tickets: $2 (donation to S'pore Millennial Trust). All tickets available from Sistic.
      42 words

  • Page 26 Advertisements
    • 307 26 Where to wine, dine and entertak»^(^& < "lunch" is the best for lunch and high tea rolled into one. Which means longer serving hours and even more scrumptious spreads. "Tunch" from 12 noon 4.30pm #15.80 (Adult) #11.80 (Child) I "Tunch Karaoke" from 12 noon Bpm #21.80* (Adult) #17.80* (ChUd) 'Inclunw
      307 words
    • 37 26 M with soothing live English entertainment. j Happy Hours 6pm 9pm daily $s+++ on all house pours 20% off ail other drinks Reservations: 831-6310/6288 Mandarin Su*faporr 333 Orchard Road. Singapore *****7 TH: 737 4411 Fax: 732 2361
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  • Page 26 Miscellaneous
    • 882 26 mi I, i ii I I'l I 111 II I—£ Laying. 500 K? tt utu t Tunis and 10.00 Headline News. .w„ 4-30 Home Improvement. Ulan Bator. iojw ArnnnH A«in Hs*!s SUM Triple Nine Year 4. 830 Sakalakala Vallavan. 1030 AtlSImP With JS2^°r at lr Nightman. 8.00 Kaanbom Karpom S4.
      882 words
    • 260 26 UHYrriC CROSSWORD Jjjjggi UP ACROSS 6 Keep returning to take a look (4) 1 Deal in motor vehicles (7) 7 Guaranteed to get a Tory leader 5 One politician every-one wants 00 W (8) to indict (7) 8 Really snug home in divine set--9 Top mark in final Pharmacy exam
      260 words