The Business Times, 18 December 1999

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Microfilm: NL21681
Total Pages: 22
1 22 The Business Times
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  • Title Section
    Lock icon Masthead
    13 1 TheBusinessTimes MITA(P) 046/12/98 85c SINGAPORE Internet: http://business-times.asia 1 .com.sg/ SATURDAY, DECEMBER 18, 1999
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  • Article
    Lock icon MARKET SUMMARY
    63 1 □m 2372.47 (+57.62) U MBJI (+25.42) flsmsannuiEs U 327.70 (+8.40) STOCK I4BKET INDICES Friday Change KLSE OOMP 7T&26 +I0J7 NIKKEI 18,096.12 M.19 HAW SENG I §,980.35 +414.99 SET INDEX 439J7 +1J7 JAKARTA OOMP —6S&82 -7.» MANILA OOMP ♦16.10 TAIPEI WPI 7,7?122 -16.54 SEOUL COMP 949.24 +089 CLSA CHINA
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  • Article
    Lock icon FINANCE
    75 1 FOBEX BATES ust s$ USS 1.673 £(USS/S$ per 1.618 1706 EUKO(US$/SS/E) 1.023 1.711 DM 1.912 0.876 YEN 1025 1.626 RM UN 0440 HK$ 7.778 0.215 RAHT 3802 0.044 RUP1AH 7,066 0024 •SftolOO units PBIHE BATES SINGAPORE* 5.80 KUALA LUMPUR 7.25 JAKARTA 40.00 BANGKOK 10 00 MANILA 11.00 HONGKONG 8.25
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  • Article, Illustration
    Lock icon Families of crash victims sue SilkAir
    722 1  -  They claim the SIA subsidiary was negligent in the way it employed its staff, purchased aircraft By i Conrad Raj [SINGAPORE] At least 17 families of the victims of the Silk Air plane which crashed over Palembang in Sumatra two years ago have filed
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  • Article, Illustration
    Lock icon New Merc deal will wipe $17m from C&C's profit
    674 1  -  It won't import and wholesale the cars, bnt it'll keep exclusive retailing rights for 5 years By] Lee Han Shih [SINGAPORE] Listed Cycle Carriage will give up the right to import and wholesale Mercedes cars in Singapore in a year, a
    CHRIS LOH  -  674 words
  • Article
    Lock icon Star Cruises launches US$1b bid for major cruise line
    583 1  -  M'sian company lifts stake in Norwegian cruise line to 50.2%, triggering offer By] Marcus Hand {SINGAPORE] Malaysian-owned Star Cruises has unexpectedly hoisted its stake in the Norwegian cruise line NCL Holdings to 50.2 per cent, triggering a US$l billion (SSI.7 billion)
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  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      95 1 DBgPE BT Comment The Nikkei doesn't tell the whole story. Pg 3 Top stories Helmut Kohl admits taking secret party donations of 2m marks. Pg 10 Fed not expected to raise interest rates on Tuesday. Pg 10 UTI Bank offers to sell 20% stake to DBS. Next Page WBL rockets
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      Lock icon Page 1 Advertisements Column 2
      15 1 V V V and Online auction of 24 paintings from The President's Charity Art Exhibition
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      Lock icon Page 1 Advertisements Column 3
      209 1 RAINBOW FLY-BACK Case and bracelet in steel. Equipped with the legendary ZENITH EL PRIMERO movement, the only automatic chronography movement to beat at 36'000 alt ./hour. Chronograph functions coordinated by a column wheel. The FLY-BACK function allows to instantaneously re-start a new timing measurement, pressing on a single push button.
      209 words
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  • NEXt page
    • Article
      Lock icon UTI Bank of India offers DBS a 20% stake
      484 2 DBS declines comment; based on UTI Bank's share price, stake worth abont Ss24m Bloomberg [BOMBAY] UTI Bank, an Indian commercial lender, said it approached DBS Group Holdings to sell a 20 per cent stake to the Singapore financial services group. UTI
      Bloomberg  -  484 words
    • ON THE grapevine
      • Article
        Lock icon Good, old-fashioned back-up
        63 2 IT seems that some fixed depositors uneasy about Y2K computer failures are taking no chances. They are taking their fixed deposit slips, which are generated and printed by computers, back to their banks and getting them signed by authorised bank officers. A bank executive said wearily that
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      • Article
        Lock icon Power of the media
        94 2 HERE'S where we in the media pat ourselves on the back. In talking about enhancing shareholder value, Swiss-based financier Andre Baladi says the most important means of exerting influence on the management of a company is the media. According to Vision Money, a publication of the
        94 words
      • Article
        Lock icon S'pore property firms to go dot.com?
        99 2 WHAT are the chances that City Developments and DBS Land will soon announce an Internet or dot.com investment? The writing is on the wall if the business moves of Hongkong tycoons are anything to go by. Laggard Hongkong property stocks have rebounded very strongly
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      • Article
        Lock icon In gold coins US buyers trust
        87 2 Y2K fears in the US have pushed gold coin demand there to historical highs. According to the World Gold Council, the US Mint has been hard put to meet demand although stockpiling of coins on fears of Y2K financial instability has come off the
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    • Article, Illustration
      Lock icon No bridging of generation gap when it comes to Y2K
      833 2  -  The young aren't giving it much thought but their parents are stocking up for fear of disaster By Abby Ellin NYT IF, as the Book of Proverbs says, the prudent see danger and take refuge, but the simple keep going
      NYT  -  833 words
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      132 2 IST® Star Thek World Tour 6 Dec- Messs DusseMorf Themafc exhibition for 8 Feb 00 Asia ail Star Trotters. Funtasia99 17-26 Dec SISEC (Events Consumer exhtofflon Production) Wedding Festival 1999 24-26 Dec FußHouss Bridalexhibition Communications Home Exhibition 25 Dec 99- Megs Exhibitions Furniture, home 2 Jan 00 Mainland Corporation sppßsnoss
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  • SINGAPORE companies
    • Article, Illustration
      Lock icon WBL rockets 53% on profit rise, bonus issue, plans to float 2 units
      650 3  -  Analysts see fair value at $4-$4.20, technical indicators show more npside By* Teh Hooi Ling WBL Corporation's triple bonus announcement of improved earnings, a bonus issue and planned listings of two of its units lit a fire
      Source: Bloomberg  -  650 words
    • Article
      Lock icon Elec & Eltek studies options, to keep listing
      367 3 Elec Eltek studies options, to keep listing Its statement comes after its shares are sold down FOLLOWING a selldown of its shares, Elec Eltek yesterday said its directors intend to keep the company's listed status and are looking at various options after the disposal of its PCB business. The alternatives
      367 words
    • Article, Illustration
      Lock icon Keppel Oil makes offer for SPC at $1.20 a share
      246 3  -  It now holds 30% stake after buying 23m foreign shares By, Jeanette Pang KEPPEL Oil and Gas Services announced yesterday a takeover offer for Singapore Petroleum Company (SPC). Keppel Oil, a subsidiary of Keppel Fels Energy and Infrastructure, exercised its
      FILE PHOTO  -  246 words
    • Article
      Lock icon NEL to supply PCB assemblies to Toshiba
      194 3  -  By, Jennifer Lien NATSTEEL Electronics Ltd (NEL) has entered the Japanese market with a contract to supply printed circuit board assemblies (PCBAs) to Japan's Toshiba Corp. The contract with Toshiba's Digital Media Equipment Services Co calls for NEL to supply PCBAs for Toshiba's
      194 words
    • Article
      Lock icon Hiap Seng posts 48% jump in net
      186 3 Profits from higher sales, contribution from associates SESDAQ-LISTED specialist engineering firm Hiap Seng Engineering yesterday reported a 47.8 per cent jump in net profits to $2.2 million for the six months to Sept 30. Boosted by the completion of significant fabrication and installation
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    • Article
      Lock icon Pontiac unit gets $350m loan
      144 3 OCBC Bank, leading a syndicate of eight financial institutions, has arranged a $350 million loan for Millenia Tower Investments, a subsidiary of Pontiac Marina. The five-year deal, comprising a $225 million transferable loan facility and $125 million variable rate note issue supported by a revolving
      144 words
    • Article
      Lock icon The Nikkei doesn't tell the whole story
      968 3  -  lock siew anthony rowley A CIRCULAR from investment bank ING Barings in Tokyo demanded "What bull market?" in a comment on the recent price performance of Japanese stocks. While the answer might seem obvious given the 30 per cent rise this year in
      968 words
    • Article, Illustration
      Lock icon Creative rises $2.40 on Linux support plans, Nasdaq surge
      328 5  -  Analysts: share price movement reflects better reception of plans in Net arena By, Jennifer Lien CREATIVE Technology led the gainers yesterday, rising $2.40 to $31.50 after announcing it would make some of its products compatible with the Linux operating system. The
      Source: Bloomberg  -  328 words
    • COMPANYBriefs
      • Article
        Lock icon Heng Chiang Meng for Thakral board
        51 5 HENG Chiang Meng will join the board of Thakral Corp on Dec 22. The MP for Cheng San GRC is currently managing director and group CEO of Lim Kah Ngam. He is also a director of Overseas Union Securities, Econ International and Orchard Parade
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      • Article
        Lock icon PSC proposes share split
        44 5 PROVISIONS Suppliers Corp (PSC) has proposed a split of its shares of par value 25 cents each into five new shares of 5 cents par value each. It said the Singapore Exchange has given in-principle approval subject to shareholders' approval.
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      • Article
        Lock icon Kian Ho appoints new director
        70 5 KIAN HO BEARINGS said Tan Lye Huat has joined its board as independent director. Mr Tan's appointment will bring the number of directors who are not related to the substantial shareholder and the Kwek family to four. This will also constitute the majority of the
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      • Article
        Lock icon David So trays Elec & Eltek shares
        34 5 David So trays Elec Eltek shares DAVID So Cheung Sing, through Plenty Gain Ltd, has bought 300,000 shares in Elec Eltek for an average U553.4907 each. The shares represent a 0.265 per cent stake.
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      • Article
        Lock icon Heller quits DBS Land exec committee
        35 5 DBS LAND'S Richard Charles Heifer has resigned from the executive committee of its board. His resignation follows his recent promotion to president and chief executive officer of Raffles Holdings.
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      • Article
        Lock icon New Parkway non-executive director
        31 5 PARKWAY HOLDINGS has appointed Hongkong-based Gordon Stavert Bryn Sr non-executive director. He is currently chairman CEO of Schroder Property Asia (HK) Ltd Schroder Property Asia Advisors Ltd.
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    • Article
      Lock icon MMI to buy stake in Thai disk toe component maker
      384 5 It will pay USs4.7sm for 19% of TPW Industries DISK drive baseplate maker MMI Holdings yesterday said that it would acquire a stake in a Thai disk drive component maker in a deal that will also give it exposure to
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    • Article, Illustration
      Lock icon Economic recovery brings a merry Christmas for retailers
      481 5 Bloomberg FOR FJ Benjamin Holdings Ltd, a Singapore retailer of such luxuries as Fendi handbags and Lalique crystals, Christmas has arrived early. November sales jumped 50 per cent from a year ago as shoppers forked out US$l5,OOO (5525,086) a piece for Fendi's
      Bloomberg; FILE PHOTO  -  481 words
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  • SINGAPORE markets
    • Article, Illustration
      Lock icon A few stocks push STI, but spillover interest subdued
      574 4  -  I-i comment STOCKS r.sivanithy A SHARP rebound in a handful of index stocks sent the Straits Times Index surging 57.62 points to 2,372.47 yesterday but although there was spillover interest in the broad market, the movements here were frustratingly small. There
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    • Article, Illustration
      Lock icon 5% discount not enough to justify Econ warrants' risks
      177 4  -  WARRANT WATCH By] R Sivanithy IN a few days' time, Econ International's warrants will expire (official date is Jan 4). An interesting play is developing with time decay rapidly setting in, a discount has appeared. As it widens, the question then
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    • Article, Illustration
      Lock icon ASA looks bullish on technicals
      226 4  -  HOT STOCK By 1 Teh Hooi Ling ALONG with other technology stocks, Sesdaq-listed Advanced Systems Automation (ASA) popped yesterday, rising 15 cents or 9.5 per cent to close at $1.73. Volume was a healthy 6.8 million, against the 10-day average of 1.7 million. Most of
      226 words
    • Article
      Lock icon Diary of events Saturday, Dec 18
      92 4 Singapore ♦6.30pm. Prime Minister Goh Chok Tong's reception for student leaders of tertiary institutions ♦7pm. Joint dinner by the Massachusetts Institute of Technology Club and Singa-pore-MIT Alliance to announce a collaboration Malaysia Company meetings: 808 Bhd Sunday, Deo 19 Russia Russia holds parliamentary and
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    • Article
      Lock icon Euro powers up against US dollar in Tokyo trade
      347 4 AFP [TOKYO] The euro powered up against the US dollar in Tokyo trade yesterday after a survey said Germany's business climate had improved strongly in November. At spm (0800 GMT), the euro traded at U551.0226-29 against U551.*****8 in early trading here
      AFP  -  347 words
    • Article
      Lock icon Untitled
      477 4 Slocks Voluw Kingboard USIOc 27,610,000 Benefun HK10c 20,589,000 GMG Global 5c 15,756,000 EconWtOO 14,409,000 SingTel 15c 11,293,000 ChuanHup 20c 9,368,000 MediaRing 10c 8,853,000 China Toll 20c 7,946,000 WBLCorpn 6,981,000 Asia Food&Prop US$ 6,968,000 Stocks DBSGrp 56,578,519 SingTel 15c 39,021,064 SPH 27,549,158 WBLCofpn 23.214.370 OCBC 22,957,064 SIA 21,326,895 OUB 19,821,892 C&C
      477 words
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      Lock icon Page 4 Advertisements Column 1
      425 4 THE BUSINESS TIMES AND MOfcT CHANDON "<Sp/r// Of 'DJie Genturu" Cflwarcf Sim Wong Hoo Singapore's entrepreneur Claire Chiang Known tor her dedication Dr Susan Lim Pioneering liver-transplant extraordinaire, Mr Sim is the first person to win to the causes of women and the family, Ms Chiang surgeon in Singapore, Dr
      425 words
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      Lock icon Page 4 Advertisements Column 2
      23 4 Want to talk investments with your peers? Join our forum at "http://iol.dbs. com.sg" Q[)[ssbaNK Sunday Classifiedlj lVc(, Clarke Quay Every Sunday, 9am spm
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  • Article
    Lock icon BT SHARE information services
    4118 5 Net cant CPS LowKangHuat Sep 24 I 1072 2.578L 0.09 2-21 Date TV LV TV LY lind-Jacortarg Sap 06 I ***** 10.236 7.40 6.30 Cempeny mm ($pi| ($m) (eto) lets) Uon Aslapec Sap 23 P 1997 4.786 0J9 2.00 u x(n J3 j_228 0.786 UO 0.31
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  • SINGAPORE news
    • Article
      Lock icon BG Lee calls for response to changing employment structure
      493 6  -  Creative and constructive ideas needed to meet new challenges By- Eugene Low GLOBALISATION and technological advances are profoundly changing the way employment is structured, and the government, employers and unions will have to think hard how to respond, Deputy Prime Minister
      493 words
    • Article
      Lock icon Banks wary of growing credit card business, says study
      388 6  -  By. Audrey Tan BANKS have become more wary of growing their credit card businesses since the regional financial crisis, and more are expecting delinquency rates to rise, a survey of banks in seven Asian countries, including Singapore, found. Whereas most banks
      388 words
    • Article
      Lock icon Visa-free entry for Macau passports
      360 6  -  Bat travel permit holders will need visas to enter S'pore From Quak Hiang Whai in Hongkong SINGAPORE has become the first country to offer passport holders of the Macau Special Administrative Region (MSAR) visa-free access. It said yesterday that following Macau's return to China at
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    • Article
      Lock icon 'Built-in' area goes beyond four walls, rules Appeal Court
      488 6  -  It upholds High Court decision in dismissing suit against CityDev By < Corinne Kerk BASED on a dictionary meaning, the term "built-in" refers to something "constructed to form an integral part of a larger unit" and does not only refer to
      488 words
    • Article
      Lock icon Corrections and clarifications
      52 6 IN the "New homes for sale" table complied by Knight Frank published in the Dec 16 Issue of BT, the number of units left at Mutlara Crest should be 37, not 39. The average price is $1,100 per sq ft, not $980 psf. We are sorry for
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    • Article
      Lock icon The problems caused by measurement biases in CPI
      675 6  -  By. Anna Teo THE October retail sales figures to be released this weekend should show another month of good retail performance, though the headline numbers would probably overstate the recovery in consumer sentiment. Partly due to the weak base a year ago,
      675 words
    • Article, Illustration
      Lock icon President's Charity Art exceeds target before opening
      290 6  -  By Ling Su Ann JUST over $200,000 has already been raised from the sale of paintings and cash sponsorships for this year's President's Charity Art Exhibition, said Robert lau, chairman of the organising committee, at the launch of the event yesterday. This exceeds
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    • Article
      Lock icon Investors don't share F&N's view on Times Pub
      359 6  -  MAILTETT Narayana Narayana Singapore I REFER to the article "F&N buys 24m Times Pub shares" (BT, Dec 7). Various rationales were adduced by Fraser Neave for Its purchase of Times Publishing shares at a "reasonable" 10 per cent premium over current market
      359 words
    • Article
      Lock icon Small Jade Tech float cruel to shareholders
      159 6  -  Y Woozeer Singapore JADE Technologies, listed on Sesdaq, Is being too cruel to Its minority shareholders. Its small float of 8 million shares Is as good as no float. With net earnings of 18 cents per share projected to reach 23 cents In
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  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      32 6 Hie Arts, Back Page You can amaJI ua at btbttartaphoom.ag or fax to ua at *****71, or mail your Mtar to ThaMnaaaTlmaa, feTtmaaHoua^, 390Kim Sang Road, S'pora*****6. Pfaaaagfva your full nama, addraaaandtahphonanumbar.m
      32 words
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  • MALAYSIA news
    • Article
      Lock icon Setia to issue new shares, bonds to raise RM236m
      381 7 KUALA LUMPUR It plans to use the funds for expansion, including building a new road in Johor Bloomberg S P SETIA Bhd, the third-big-gest listed property developer in Malaysia, proposed to sell new shares and debt to raise about 236 million
      Bloomberg  -  381 words
    • MARKET moves
      • Article
        Lock icon Electronics stocks still hot
        229 7 ELECTRONICS manufacturers continued to be in play yesterday, as retail investors sought out counters with even the vaguest connections to the sector, analysts said. Among the high volume gainers yesterday was Paracorp Berhad, which has a Hongkong subsidiary manufacturing electronic toys. Paracorp, which recently announced its
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      • Article
        Lock icon Telcos benefit from market push
        147 7 TELECOMS companies continued to benefit from the general buoyancy of the market yesterday, with Technology Resources Industries gaining favour after it successfully fended off bondholders' attempts to wind it up for failing to pay them on time. TRI, which announced on Thursday evening that it
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      • Article
        Lock icon Banking stocks next play?
        165 7  -  Compiled by Diana Oon Abdullah KEEP an eye on banking stocks, analysts said yesterday, as the sector will be the next to see a major push, after the play on electronics and telcos this week. With merger announcements expected in January, some action is expected on
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    • Article
      Lock icon M'sia to do port study for Tamil Nadu
      333 7 NEW DELHI Bernama MALAYSIA has been asked by the government of the southern Indian state of Tamil Nadu to carry out a feasibility study for a major port in the state. This will link the Indian subcontinent to other countries, particularly Malaysia
      Bernama  -  333 words
    • Article, Illustration
      Lock icon PAS agrees not to impose 'kharaj' tax in Terengganu
      204 7 KUALA LUMPUR Reuters CONSERVATIVE Muslims who won control of a Malaysian state in last month's polls have promised not to impose a controversial special business tax on non-Mus-lims against their wishes, a Chinese-based party said yesterday. Lim Kit Siang, national chairman
      Reuters; FILE PHOTO  -  204 words
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      21 7 k know? B Mews I 1 Click Cats' Mtwt i* Clttiifitd thi* vuknL^J fs* CATS. Buy h. Sell It. Find H
      21 words
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      Lock icon Page 7 Advertisements Column 2
      77 7 J f jMHH&ft -sp-- ||r» Dn f* I~- KT• p 4" AiffiE. __^B Mr 2 **§Y TIhI tj( ban^HAAi JB MBMM You never PATEK PHILIPPE actually own a Patek Philippe. geneve You merely look after it for the next y Jill generation. The Annual Calendar. The first self-winding annual calendar
      77 words
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  • SOUTH east asia
    • Article
      Lock icon Manila may allow more access to foreign banks
      433 8 MANILA New law may let them boy 100% of local banks; and 40% stake limit for non-bank investors Bloomberg THE Philippine Senate Is expected to approve a new banking law on Monday that will allow foreign banks to buy 100 per cent
      Bloomberg  -  433 words
    • Article
      Lock icon Metrobank set to acquire Solidbank: report
      332 8 MANILA Bank of Nora Scotia aald to offor its 40% otako Bloomberg METROPOLITAN Bank Trust Co may be poised to make Its third acquisition this year, allowing the lender to keep pace with Bank of the Philippine Islands in the race to be No
      Bloomberg  -  332 words
    • Article, Illustration
      Lock icon Who's afraid of the Y2K bug?
      64 8 [BANGKOK] A customer walking past a sign set up in front of a bank in Bangkok yesterday, announcing its readiness against the millennium bug. Thailand's central bank said it has set aside an extra 318 billion baht (SSI4 billion) in reserves over the new
      AFP  -  64 words
    • Article
      Lock icon Manufacturing, exports may boost Thai Q3 growth to 7-8%
      410 8  -  From', Harish Mehta in Bangkok THAILAND Is expected to rebound with 7-8 per cent economic growth in the third quarter this year, due to a strong pick-up in manufacturing and exports, analysts said yesterday ahead of the official release of the
      410 words
    • Article
      Lock icon 200t rupiah bond issue planned
      295 8 JAKARTA Draft letter of intent to IMF says extra issue needed to complete bank recap AFX-Asia THE government is planning an additional bond issue worth 200 trillion rupiah (5547.2 billion) by mid-2000 to complete the recapitalisation of state banks, a draft letter of intent to
      AFX-Asia  -  295 words
    • Article
      Lock icon Recapitalisation of Bank Mandiri: more funds needed
      217 8 JAKARTA Bloomberg PT Bank Mandiri will need 18.1 triUion rupiah (554.3 billion) more than planned for its recapitalisation after delays in state funding caused further deterioration of its finances. This revision the second in nine weeks brings the total cost to 178.1 trillion
      Bloomberg  -  217 words
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      Lock icon Page 8 Advertisements Column 1
      1138 8 NOTICES To advertise call toll free 1800 741 1883 Fax No: 741 1298 luls'.r.yjioil Gas Services Keppel Oil and Gas Services Pte Ltd (Incorporated in the Republic of Singapore) Take-over offer for Singapore Petroleum Company Limited ("SPC") The Directors of Keppel Oil and Gas Services Pte Ltd (the "Company"), a
      1,138 words
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      Lock icon Page 8 Advertisements Column 2
      170 8 To advertise your NOTICES simply fox: 741 1298 or Call tollfree: 1800 741 1883 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER Of UNIVERSAL FITNESS CENTRE PTE LTD (In Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of
      170 words
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  • EAST asia
    • Article
      Lock icon Analysts sceptical about TVB's Internet portal plans
      583 9  -  They cite lack of a clear strategy and necessary tie-ups like those forged by C&W HKT or PCC From Meera Tharmaratnam in Hongkong THE plans of Run Run Shaw's Television Broadcast Ltd (TVB) to create an Internet portal have met with some scepticism
      583 words
    • Article
      Lock icon China's mortgage loans rise by 100b yuan in 1999
      369 9 BKIJING Housing market will fuel growth in coming years: economists Bloomberg CHINA'S mortgage loans doubled in 1999, a sign the industry may help fuel economic growth in the next few years, economists said. Mortgage loans expanded about 100 billion yuan (5520.1
      Bloomberg  -  369 words
    • Article
      Lock icon Guangdong deal unlikely to restore confidence: analysts
      282 9 BEIJING Creditors expected to accept deal when they meet in Jan AFP DEBT-ridden Guangdong Enterprises (Holdings) Ltd (GDE) and its creditors have reached a tentative debt-res-tructuring agreement, but analysts said yesterday it will not restore confidence in investing in China. The Guangdong govern-ment-owned
      AFP  -  282 words
    • Article, Illustration
      Lock icon Symbols of change
      46 9 [BEIJING] A Beijing vendor yesterday selling Macau (left) and Chinese national flags near Tiananmen Square. The Portuguese enclave reverts to Chinese rule at midnight on Sunday. Macau was the first and will be the last European settlement on the South China coast. REUTERS
      REUTERS  -  46 words
    • Article
      Lock icon Citic NZ unit moves court to end forest deal with Fletcher
      293 9 m WELLINGTON Bloomberg CITIC New Zealand, a Chinese government-owned forest investor, is seeking a court order to end the management contract Fletcher Challenge has over New Zealand forests they jointly own. Citic said it has taken the action because
      Bloomberg  -  293 words
  • MILLENNIUM countdown
    • Article, Illustration
      Lock icon Business leaders through the ages
      1414 9 A look at chief executives through corporate history from warlords who pillaged and plundered to today's raiders of the boardrooms and marketplaces Bloomberg [LONDON] A THOUSAND years ago, the world's great corporations were standing armies and their chief executives were kings in armour. Increasing shareholder
      Bloomberg  -  1,414 words
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  • WORLD news
    • Article
      Lock icon Japan to reintroduce floating rate bonds after 15 years
      429 10 LONDON Finance ministry needs to attract JGB investors to fond record budget THE Japanese government will announce next week that it plans to issue floating rate bonds next year for the first time in 15 years. The move is an unexpected
      429 words
    • Article
      Lock icon BOJ leaves rates unchanged
      368 10 TOKYO AFP, Bloom berg THE Bank of Japan (BOJ) said yesterday it was leaving its official discount rate unchanged at a record low 0.5 per cent but reaffirmed its commitment to ease monetary policy through market operations. "At the monetary policy meeting held today, the Bank
      AFP,; Bloom berg  -  368 words
    • Article
      Lock icon FOMC not expected to raise short-term rates till Feb 1-2
      580 10 WASHINGTON THE Federal Open Market Committee (FOMC) will hold its target for short-term interest rates steady at 5.5 per cent next Tuesday in order to minimise any chance of disrupting financial markets over the turn of the century, analysts said.
      580 words
    • Article
      Lock icon Telewest plans to buy Flextech for £2b
      352 10 LONDON Bloomberg TELEWEST Communications pic, the UK's No 2 cable TV company in which Microsoft is a shareholder, plans to buy Flextech pic for about £2 billion (555.4 billion) in stock to be able to create its own programmes and interactive services. The
      Bloomberg  -  352 words
    • Article, Illustration
      Lock icon Kohl admits taking 2m marks in secret party donations
      385 10 Bloomberg [BERLIN) Former German Chancellor Helmut Kohl admitted accepting up to 2 million Deutschemarks (Ssl.7 million) in cash for his Christian Democratic Union party between 1993 and 1998 from donors who requested anonymity. Mr Kohl said he had committed a "serious
      Bloomberg; AFP, REUTERS  -  385 words
    • Article
      Lock icon Monsanto, Pharmacia in talks
      156 10 ST LOUIS Bloomberg MONSANTO Co, one of the world's largest pesticide makers, and US-Swedish drugmaker Pharmacia Upjohn Inc are in talks about a merger, the Wall Street Journal reported, citing people familiar with the matter. Monsanto, whose US$B billion (5513.4 billion) investment in genetically engineered crops
      Bloomberg  -  156 words
    • WORLDWatch
      • Article
        Lock icon Korea's largest union stages walkout
        77 10 AFP [SEOUL] Hundreds of thousands of workers from |outh| Korea's largest trade union staged a four-hour walkout yesterday to demand the government amend iabofr passed during the country's economic crisis. The Federation of Korean Trade Unions (FKTU) said one-fifth of its members across the country,
        AFP  -  77 words
      • Article
        Lock icon Goldman's Net fund hits US$1b mark
        66 10 Bloomberg [NEW YORK] Goldman Sachs Group Inc attracted US$l billion (511.7 billion) to its two-and-a-half-month-old Internet mutual fund, giving a shot in the arm to its sluggish asset management business. Assets in the Goldman Sachs Internet Tollkeeper, which opened on Oct 1 with US$l7.5
        Bloomberg  -  66 words
      • Article
        Lock icon Sten Fornell named new Ericsson CFO
        68 10 Bloomberg [STOCKHOLM] Ericsson AB named Sten Fornell chief financial officer, ending an almost year-long search. Mr Fornell, 51, has been acting CFO and corporate controller at the company's network operators and service providers unit since Sept 2. Sweden's largest company has seen its shares
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        Lock icon United Biscuits accepts French offer
        97 10 Reuters [LONDON] Food group United Biscuits (Holdings) yesterday accepted a £1.26 billion (553.4 billion) offer of 265 pence a share from French-led consortium Final realm, backed by food group Danone. The French grouping said its bid beat a £1.2 billion offer 0f254 pence a share
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      Lock icon SEC's fair disclosure plan may have opposite effect
      343 11 NEW YORK Reuters THE top lawyer for Wall Street's best-known trade group said the Securities and Exchange Commission's plans to stamp out selective disclosure of financial information might have a "chilling effect" on the ability of companies and analysts to share information.
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      Lock icon BHP share price soars on news of bumper first-half profits
      641 11  -  Net profit up 148% to Asl.oBb as costs are slashed by a hefty As43om From Brian Gomez in Sydney BHP's share price soared to a 2'/s-year high of A 519.16 yesterday after the Australian resources group announced bumper profits for
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      Lock icon Net firms and retailers teaming up
      477 11 BENTONVILLE, Arkansas Wal-Mart ties np with AOL while Best Bay and Microsoft forge partnership NYT, Bloomberg ELECTRONIC commerce, explosive as it is, clearly can't keep growing by going solo. Convinced that they cannot grab the next generation of Web users without each other, Internet
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      Lock icon Einstein voted Personality of the Millennium by leading figures
      762 11 M LONDON Gandhi and Marx tie for second position in Renters poll of 34 famous people Reuters ALBERT Einstein, the great man of Western science, is Reuters' Personality of the Millennium just ahead of two people who dedicated their lives to
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      Lock icon US films, videos kick in billions to economy
      446 11 WASHINGTON Report says copyright industries were single largest contributor in 1997 Reuters AMERICA'S creative industries film, TV, video and others added a whopping US$34B billion (SssB4 billion) to the economy in 1997, up 7.2 per cent from 1996, industry reps said in
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      225 10 THE ASIAN WALL STREET JOURNAL. The Business Publication Of Asia The Asian Wall Street Journal, Asia's business daily, invites applications for the following positions for its customer service office in Singapore: 1. CIRCULATION MANAGER Responsible for The Asian Wall Street Journal's circulation sales services in Singapore. Must nave at least
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      7 10 I TODAY©fe^te Lianhe Zaobao BSffl *fSF»»r mm
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      766 11 r KALFARM FINANCE LIMITED (Incorporated in the British Virgin Islands with limited liability) ("Kalfarm") PT KALBE FARMA TBK (Incorporated in the Republic of Indonesia with limited liability) (the "Guarantor") NOTICE TO THE HOLDERS OF THE U. 5.5100,000,000 GUARANTEED FLOATING RATE NOTES DUE JULY 1999 (the "Notes") Notice of Adjourned Meeting
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  • FINANCE & commodities
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      Lock icon Futures ride on the strength of cash market
      260 12  -  SGZ Derivatives TraAhi&Reports MSCI Singapore Index Daphne Tay Jardine Fleming THE Singapore stock market ended the week yesterday with a bang, fuelled by strong gains in key index blue chips. Technology stocks recorded handsome gains following yet another record-breaking session on Nasdaq.
      260 words
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      Lock icon Futures trade to a higher close
      189 12  -  MS& Taiwan futures Matthew DenBleyker Refco Singapore SIMEX MSCI Taiwan Stock Index Futures yesterday rose 2.5 points or 0.72 per cent to 349.5 while the underlying MSCI cash index edged up a scant 0.26 point or 0.07 per cent to 347.16. Technology shares were
      189 words
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      Lock icon Oil prices take a breather from surge to nine-year highs
      211 12 ENERGY REPORT Reuters [LONDON] Red-hot oil prices cooled off a little yesterday after shooting to fresh nineyear highs on winter supply worries. Benchmark Brent for February delivery in London was 13 US cents lower at U5525.32 a barrel by 1205
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      Lock icon CURRENCY REPORT
      339 12 Reuters New York THE euro languished at session lows against the dollar and yen in early US trade yesterday after an overnight upsurge to one-week highs failed to stick. "People have been trying to find reasons to buy the euro, but generally these upmoves are viewed as technical
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      1226 12 IMTmBAWK CROSS RATES /m /7 A C$ Hwb two Ffr Dm HK$ Ind t$ frUH Von Won Ml WZ$ Pafc »s Ptto S$ Bawd Sir jft$ Bafct Powd US$ Australia 0.949 6.178 0.629 4.126 1.230 5.002 27.987 45.460 0.662 7.274 2.445 1.270 33.358 26.147 1.076 3.954 1.008 20.372 24.464 0.398
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      1873 12 8IC0M FUTURES Dec 17 RUBBER (futures ctataq as at 5J0em) RSS1 cents/kg) Close Vol MM Open Month High Low Sett (tonnes) Interest JanOO 106J0 Feb 00 107.75 107.75 108.00 300 600 Mar 00 m.00 100 Apr/Jun 00 1T7.50 RSS 3 CONTRACT (US cents/kg) VoltNM Open Month HI9I1 law jg (tonnes)
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  • STOCKS east asia
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      Lock icon Shares soar as investors take lead from Wall St
      2859 13 HONGKONG AFP ****** HONGKONG share prices jumped 2.7 per cent yesterday as investors followed Wall Street's lead to snatch up bargains following recent falls, dealers said. Traders said the rebound reflected a strong overnight performance in New York, with the technology-heavy
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      Lock icon CHINA
      971 13 Reuters n Shenzhen B Index -0.68 SHENZHEN stocks closed lower yesterday after securities authorities ordered listed companies to implement new accounting rules, including making provisions for bad debt in their 1999 annual results. The hard currency B share index fell 0.68 point, or 0.84 per cent, to 80.74 as
      Reuters; Source: Credit Lyonnais Securities (Asia) Ltd  -  971 words
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      Lock icon TAIPEI
      376 13 AFP □WP Index -1654 TAIWAN share prices closed 0.2 per cent lower yesterday on profit-taking in Internet and telecoms shares, dealers said. The market opened up on Nasdaq's sharp gains overnight, but selling set in later, particularly from fund managers, they said. The Taiwan Stock Exchange Weighted Price Index
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      Lock icon Nikkei down on late profit-taking
      2015 13 TOKYO AFP Q Nikkei 225 -MJ» SHARE prices in Tokyo closed marginally lower yesterday as late profit-taking dented gains in information technology issues after the US Nasdaq posted a new high, brokers said. The Nikkei Average of 225 selected issues lost 16.19 points to finish
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      55 13 HOME IN ON HDB*S I investment pomrouo I Nepfunf riem Li »°> I IPO. Shares. Bonds. Stocks. Annual Reports. B3 I I Whatever you're offering, we help you reach out —I I to 86.7% of all adults In Slnqapore daily. Till l1 I The Straits Times The Business Times Lianhe
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  • STOCKS klse
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      8888 14 INDUSTRIALS Consumer products 1999 La*t Vol Day N«t Cap Mign Low Company Ml •QOO High Low P/t $mii 440 255 Ajinomoto 302 192 122.4 174 46 Angkasa 93 5 23 94 90 137.1 404 220 Apollo Food Hlg 330 7.9 132.0 294 115 Berjaya Land 169 4 140 172 165
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      Lock icon Technology-related stocks boost market
      395 14 AFP, AFX-Asia Q Composite Index +10-37 MALAYSIAN share prices closed 1.4 percent higher yesterday, led by second board stocks and semiconductor issues, dealers said. The Kuala Lumpur Stock Exchange Composite Index ended up 10.37 points at 778.26 and the Second Board Index gained 6.85 points to
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  • SGX clob & regional stocks
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      2562 15 BONDS A WARRANTS Dec 17 ■I *rrn b*n u-«m* um m 6oy umm *«t m Co* tm urn ifca M* IM Km Cmkmt ItH Mr (1—1 M# Law turn mm Htm 1—iMMH Prt» WW >■*<» UW 104 10.5 3160 *Ac~ar W*****1 U9I 40 0.3 100 40 40 lt.l 40 1X1
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      Lock icon BANGKOK
      803 15 AFP Fl SETlndex +LB7 THAI shares closed up 0.4 per cent yesterday but off their highs amid profit-taking that hit across the board ahead of Parliament's censure vote over the weekend, dealers said. The benchmark Stock Exchange of Thailand Index rose 1.67 points to end the day at 439.37
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      Lock icon MANILA
      286 15 AFP H Manila +25J PHILIPPINE share prices ended 1.3 per cent higher yesterday on aggressive buying of selected blue chips, brokers said. The Philippine Stock Exchange Composite Index rose 25.1 points to 1,997.88. Volume was 10.12 billion shares worth 3.92 billion pesos. AFP o* f Nw_ (000) MRC Allied
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      Lock icon JAKARTA
      682 15 AFP Q Composite lade -7J> JAKARTA share prices closed 1.2 per cent lower yesterday as Standard Chartered Bank's withdrawal from a contract to manage and invest in Bank Bali continued to dampen sentiment, dealers said. A dealer at a foreign brokerage said among the worst performers of the day
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      Lock icon WELLINGTON
      279 15 AFP IJWellnigtoo *1121 ACTIVITY in Fletcher Challenge Ltd stocks gave the New Zealand share market an unseasonally busy day, dealers said, spurring it up 0.6 per cent yesterday. The NZSE-40 Capital Index was up 12.21 points at 2,191.39 on turnover of NZ$ll6 million. —AFP tectT IB ("9091 Advantaga HOS
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      Lock icon SYDNEY
      585 15 AFP H*nOr*MriM ♦111 AUSTRALIAN share prices gained 0.4 per cent yesterday, driven by a surge in resource stocks, brokers said. The benchmark All Ordinaries Index rose 12.2 points to 3,138.10. The All Industrials Index closed down 12.9 points at 5,382.60, but the All Resources Index jumped 48.6 points, or
      AFP  -  585 words
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      Lock icon SEOUL
      312 15 AFX-Asia Q Composite Index +0.69 THE Korea Stock Exchange Composite Index yesterday closed up 0.69 point at 949.26. Volume was 292 million shares worth 3.9 trillion won. 6k 17 mm *h Anam Sam ***** 800 Brain Tetft .2080 270 Central Bank .2330 -SO ChetlComm ***** ***** OaaCuBank 3700 50
      AFX-Asia  -  312 words
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      485 17 Where to wine, dine and «aas SINGSATION THEME KARAOKE Christmas Eve Ist drink at $30 per person or $36 inclusive of supper at Cafe Plaza. Come dressed in the fashion wear of tne 60s and 70s and you'll receive an additional drink on the house Christmas Day Ist drink at
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      80 17 M I I N > I I'll K Christmas Witor# 25 December 1999 Ham to 3pm McnSßin Ballroom (6th flo<sr, South Tower) Aduft 553 nett Child under 10 years: $32 nett Reservations: 831-6288 fa I*l/1/1 QD <,</■/■ t/yi"'>"^ H You will find it all here at Wine, I )ine and
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  • Page 17 Miscellaneous
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      Lock icon Page 17 Miscellaneous Column 1
      808 17 Hrfl li 111 Flremlewia 2.00 Donny and Marie. VrhamU R<ln onnarHu f S'S 3,00 Wfivp< BOat: The Next 800 AM TV Innovations. 0.00 One Hour News. 200 PMTvhPrc Tn «tnro/a inn uii c 200 PM Response TV. 10.00 Headline News. KStrwnL? King Of the Hill: Snow 2.30 Wayang: Kecil Kecil
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      315 17 CRYPTIC CROSSWORD IISIRIUI me E 1 B 1 E IJII I I I I m --H ACROSS nature (6) 1 Leading English doctors housed in 7 What no orthodox Jew would iggarrison (8) nore (4,4) 5 Dad gets up with hesitation, poor 0 Regarding stout newsman (8) man (6) 1
      315 words
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  • TheArts
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      Lock icon Art with a heart
      1160 18  -  On the block The President's Charily Art Exhibition gets a new slant with the online auction of 24 paintings, pakvathx natar reports PARVATHI NAYAR IT'S a convergence of art, charity and technology, an optimistic note on which to end 1,000 years of human striving. The President's
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      Lock icon Click & bid
      266 19  - Click bid By Parvathi Nayar YOU may n6t quite heir the definitive thud ol the auctioneers gravel and the ringing 'Sold!' but an online auction has its own charms. Margaret Thomas, content director of Asia One, explains that the PCAE 99 auction is not a live auction but one that
      266 words
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      Lock icon THE PROGRAMME
      1249 20 DANCE China Dance Ta Ge Dance Theatre presents a series of five seemingly distinct dance pieces choreographed by Chang Hsia Min, Joey Chua, Carly Hargreaves and Kimi Somey. ♦Dec 19, 4pm at Jubilee Hall. Tickets: $20 $15 available at Sistic (348-5555). ■rmiATRE History Will Teach Us Nothing A
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      Lock icon Spotlight
      184 20  -  By. Parvathi Nayar The bus Carols, Yule Logs, Orchard Road Lights. It's no mistletoe for guessing Christmas Time in Singapore again. Tis also the season of giving, and in this spirit Chijmes will be raising upto $10,000 towards the relief fund for the victims of the Turkey earthquake the
      184 words
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      Lock icon Striking the right notes
      968 21  -  The Young Musicians' Society has lined up projects ranging from the acappella movement to getting the kids started early, joamna uh gets an idea of the tempo JOANNA LIM LOOKING much trimmer and fitter than before, the Young Musicians Society (YMS) is all set to make
      CHRIS LOH  -  968 words
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      Lock icon When visual language speaks
      741 21  -  By. Parvathi Nayar VISITING Finnish artist Soile Yli-Mayry is a literal interpretation of the term "colourful personality", in zipped-up pink leather hot pant suit, chunky rings, hair bound by bright scrunchies and multi-hued sunglasses. You'd have to be seriously pigment-insensitive not to guess this is an
      741 words
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      Lock icon A blast from local music's past
      828 21  -  With his book "Legends of The Golden Venns', Joseph Pereira hopes to evoke memories of S'pore's music scene in the '60s By, Joanna Lim STRAYDOGS, Rotten Bodies, Barbed Wire and IGTA Never mind the rather morbidsounding names, but did you remember that these were
      ARTHUR LEE  -  828 words
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      Lock icon Remembering Kim Lim
      1120 22  -  Kim Lim (1936-1997), the Singapore-born sculptor and printmaker was honoured by Singapore Art Museum (SAM) with a tribute exhibition this year, paryatbz h&tar met the people involved in this show to rediscover Kim Lim and figure out that little puzzle why she is so underrated in Singapore
      ARTHUR LEE  -  1,120 words
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      71 18 Coming of age The Young Musicians Society is abuzz with plans for the millennium. EL 4 If you appreciate the finer things love the OCBC Arts Card* arts scene time use the to help actors dancers iy of thanking you for supporting the arts. 70 apply> simply caU 1800 538
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      16 18 In memory SAM holds tribute exhibition for S'pore-born sculptor and printmaker, thelate Kim Lim. EL 6
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      60 20 The Average Size and Performance of a PruLink Fund. PruLink Singapore Managed Fund £a the largest unitised fund in Singapore. .V |jfc qg&Bk A n unbeatable record with over $730 million ir- P&L invested by 90,000 people since its launch in 1992. DRI jT jwv INVESTMENTS Pr bably ,he be
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      101 22 Ifl ;l V:-yS\ i:.- .v .r. %*y 'C Carry a DBS Credit Card, and you'll carry the power of Purchase Protection, *-'f' 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
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