The Business Times, 12 February 2000

Lock icon This issue may only be viewed from the multimedia stations at NLB Libraries. See FAQ for more information.

Microfilm: NL21769
Total Pages: 22
1 22 The Business Times
Page thumbnail Page 1
  • Title Section
    Lock icon Masthead
    11 1 THE BUSINESS TIMES MITA(P) 035/12/1999 SING SATURDAY, FEBRUARY 12, 2000 85C
    11 words
  • Article
    Lock icon MARKET SUMMARY
    55 1 sn 2£34J2 (+9.62) BT-SBI ***** (-0.06) SOB9GIFUTURES 290.70 (-2:10) STOCK MASKET INDICES Friday Qtaoie KLSEOOMP 9W.81 +122 NIKKEI dosed HANGSENO 17.J80J8 +&3S.13 SET INDEX 466.12 +102 JAKARTA COMP —636.06 -4.17 JfAfOLA OOMP _tf»711 -22.94 3&UDPHWPI 10,128.67 +71.00 jMJVLCOMP ***** -1196 (USA CHINA B dosed adbtallord urj -§.4 11m
    55 words
  • Article, Illustration
    Lock icon Curbs on property speculation to stay: Mah
    580 1  -  Property stocks fall on lack of expected good news Byl Andrea Tan [SINGAPORE] Market players who piled into property stocks on Thursday on expectations of favourable news on the property front had their hopes dashed yesterday. Speaking at the annual Chinese New Ypar
    ARTHUR LEE  -  580 words
  • Article, Illustration
    Lock icon Richard Li squares up for fight with SingTel
    982 1  -  His entry could scuttle ongoing merger discussions between Sing Tel and HKT By( Catherine Ong [SINGAPORE] In the most stunning move since his multi-million dollar deal with media baron Rupert Murdoch six years ago, Hongkong's youthful tycoon, Richard Li signalled yesterday he
    982 words
  • Article
    Lock icon FINANCE
    77 1 FOKEX SATES US$ S$ USI 1.894 £(US$/S$ per 1.608 1724 EUHO(ltSt/S$/E) 0.967 1.671 Ml- 1583 0.854 YEN 1091 L851 RM 1800 0.440 HKS 7.781 0118 BAHT 37.47 0.045 RUPIAH 7,310 0.023 •SS to 100 units PIOIE BATES SINGAPORE* 580 KUALA LUMPUR 7.«7 .JAKARTA 19.00 BANGKOK .9.50 MANILA 11.00 HONGKONG
    77 words
  • Article, Illustration
    Lock icon Philip Yeo in talks to join Pacific Century group: sources
    544 1  -  Byi Catherine Ong [SINGAPORE] Philip Yeo, one of Singapore's most accomplished and colourful government officials, is in talks to join Hongkong cyber tycoon Richard Li's Pacific Century group in Singapore, informed sources said. Mr Yeo, 52, chairman of the Economic
    544 words
  • Article
    Lock icon Bintang Melewar fails to get KLSE response
    556 1  -  KL wrJianpi silent as deadline for reply to Clob offer passes From Eddie Toh in Kuala Lumpur THE Kuala Lumpur Stock Exchange (KLSE) snubbed Bintang Melewar's request for a reply by yesterday to its plan to circulate its offer document to Clob investors
    556 words
  • Page 1 Advertisements
    • Advertisement
      Lock icon Page 1 Advertisements Column 1
      79 1 DfgEPE Top stories Thailand's TAC in talks with Telstra to sell 25% stake. Nmxt Page Over half of SIA staff to be offered share options. Pg 4 Singapore's economy might outrun forecasters once again. Pg 7 Bang Olufsen sees 50% jump in sales. Pg 7 People HAbhisit Vejjajiva: When oldfashioned
      79 words
    • Advertisement
      Lock icon Page 1 Advertisements Column 2
      61 1 Lesson for Sing Tel: Size matters, Pg 3 Polities, business could be behind CyberWorks' move, Pg 3 Related stocks surge dramatically, Pg 3 Australian art I don't seek to be Back Page controversial. W* But Ido want Free tickets to Paris provocative... M Discounts on Singapore Art Singapore-born dancer p
      61 words
Page thumbnail Page 2
  • NEXT page
    • Article
      Lock icon Thailand's TAC in 25% stake talks with Telstra
      541 2  -  Dutch Telecom and Tele Nor of Norway also negotiating for stakes From. Harish Mehta in Bangkok THAILAND'S debt-strapped Total Access Communication (TAC) is in talks with Australia's biggest phone company, Telstra, to sell it a 25 per cent stake, company officials said
      541 words
    • Article
      Lock icon Plan to link Afta with Aussie, NZ trade zone
      233 2 The onion could create a market of 523 million people Oana-Kyodo [JAKARTA] Asean is studying a proposal to combine the Asean Free Trade Area (Afta) with the free trade zone operated by Australia and New Zealand, the Asean Secretariat said yesterday.
      Oana-Kyodo  -  233 words
    • ON THE grapevine
      • Article
        Lock icon Single expats wanted
        116 2 SINGLE expats feeling lonely can now find friends at a Web site set up recently. "The Singaporeans have the SDU so I thought why not have one for the expats," said Rosa Koo, the lady behind the idea. SDU is the government's Social Development Unit. Ms Koo
        116 words
      • Article
        Lock icon CJK, ok?
        72 2 ONE of our IT reporters who has to deal with acronyms like ERP (Enterprise Resource Planning), ISDN (Integrated Subscriber Digital Network) and SCM (Supply Chain Management) on a daily basis was stumped when a local technopreneur talked about CJK support as being a pre requisite for companies seeking
        72 words
      • Article
        Lock icon Land scarce?
        57 2 LAND is scare in Singapore? Not to some. Said a property player: "I don't think so. There're so many available sites from collective sales, government land sales. So many to pick from, don't know which one to evaluate!" No wonder some developers are concentrating their resources on certain
        57 words
    • Article
      Lock icon Gender factor inhibits mutual fund
      395 2 UOB-UN fond gets off on wrong foot with marketing strategy Bloomberg [SINGAPORE] Investors in Asia, a region known for its male-dominated cultures, don't appear to be in a rush to redress the balance. A new mutual fund which invests in companies that promote equal opportunities
      Bloomberg  -  395 words
  • Page 2 Advertisements
    • Advertisement
      Lock icon Page 2 Advertisements Column 1
      145 2 I*l®, Wedding Fair 12-14 Feb International Congress on Viral Hepititis, 16-19 Feb Prevention and Control Wedding Fair 18 -20 Feb Asian Aerospace 2000 21 Feb Millennium Air Power Conference 21 Feb Spring Wedding Collection 25 27 Feb Deol's Nite 27 Feb Information is correct at the time of printing and
      145 words
Page thumbnail Page 3
  • TELECOM tussle
    • Article, Illustration
      Lock icon Politics, business could be behind CyberWorks' move
      888 3  -  Company has no govt links but vested interests may have persuaded it to enter bid for HKT From Meera Tharmaratnam m Hongkong POLITICAL interference to strictly commercial considerations are among the reasons Hongkong-based analysts cite to explain Pacific Century CyberWorks' surprise emergence as
      AFP  -  888 words
    • Article
      Lock icon Lesson for SingTel: Size matters
      759 3  -  lock siew] lee han shih Richard Li might not have meant to do it. But yesterday his Pacific Century CyberWorks helped to put into motion a process that could see the Singapore government eventually giving up holding a significant stake in Singapore Telecom. The government
      759 words
    • Article, Illustration
      Lock icon Possible bidding war sends linked counters surging dramatically
      460 3  -  From Meera Tharmaratnam, Teh Hooi Ling STOCKS linked to the potentiaf bidding war for a merger with Cable Wireless HKT, Hongkong's largest phone company, soared yesterday, pulling up Hongkong's benchmark Hang Seng Index by 3.1 per cent to 17,380.30 points. According to
      460 words
    • Article
      Lock icon Li, Hikari chief to swap US$1b in shares
      196 3 Bloomberg [HONGKONG) Richard Li, chairman of Pacific Century CyberWorks Ltd, and Yasumitsu Shigeta, president of Japan's Hikari Tsushin Inc, agreed to swap US$l billion (Ssl.7 billion) worth of shares in their own companies. Mr Li agreed to exchange a 3.5 per cent
      Bloomberg  -  196 words
Page thumbnail Page 4
  • SINGAPORE companies
    • Article
      Lock icon HPL, Hai Sun Hup announce overseas hotel purchases
      255 4 TWO listed companies yesterday announced new hotel acquisitions overseas. Hotel Properties Ltd (HPL) said it has agreed to buy a hotel in the resort town of Pattaya, Thailand while Hai Sun Hup said it has bought a hotel in Sydney, Australia. HPL
      255 words
    • Article
      Lock icon Over half of SIA staff to be offered options
      544 4  -  SIA, SIAEC and S&ts will each have their own separate share option schemes Byi Conrad Raj MORE than half of Singapore Airlines' staff will soon become shareholders of the company following its decision to widen its employee share option plan. The
      544 words
    • Article, Illustration
      Lock icon Somerset cuts losses, but still stays $7.3m in the red
      493 4  -  $9&Bm bottomline loss from quitting China project By Andrea Tan SOMERSET Holdings has slashed losses but remains in the red. It reported yesterday a net loss of $7.3 million for the year ended Dec 31, 1999, down sharply from $47.5
      FILE PHOTO  -  493 words
    • Article
      Lock icon OPH issues $70m bonds to refinance debt
      160 4 ORCHARD Parade Holdings is issuing $70 million worth of bonds to refinance a debt. The bonds are secured by, among other things, a first legal mortgage over the Central Square mixed development near the Singapore River. The proceeds will be used to refinance
      160 words
    • Article
      Lock icon PrimePartners ups stake in Indon cooking oil firm's IPO
      426 5  -  Find manager to tak» 1L5% of Tanas Bara Lampoons total gjiaroliAlHingg By, Jeanette Pang HOMEGROWN boutique fund manager Prime Partners Asia Capital has upped its stake in an Indonesian cooking oil producer's initial public offering on the Jakarta Stock Exchange to
      426 words
    • Article, Illustration
      Lock icon DBS sees profit matching market expectations
      364 5  -  Byi Siow Li Sen DBS Group Holdings says full-year 1999 net profit will be in line with expectations and provisions will be pretty much what they were the year before. Chuck Newton, DBS managing director for corporate relations, told BT there will be no
      FILE PHOTO  -  364 words
    • Article
      Lock icon Hiap Seng in joint venture with Fisher-Rosemount
      375 5  -  HSFR aims to be process industry's only full-service solutions provider By Francis Kan SESDAQ-LISTED Hiap Seng Engineering, one of Singapore's leading petrochemical contracting companies, has formed a $2.35 million joint venture with US-based plant automation supplier FisherRosemount. HSFR Performance Services 51 per cent
      375 words
    • COMPANY Briefs
      • Article
        Lock icon Avimo wins $12m Swiss deal
        49 5 AVIMO Group has won a $12 million am tract from Switzerland-based MO WAG Motorwagenfabrik AG to supply 38 FVTBOO one-man turrets. Deliveries of these turrets, which are to be fitted onto Piranha in vehicles for the Irish Defence Force, will continue until next year.
        49 words
      • Article
        Lock icon Scotts changes name to The Ascott
        20 5 SCOTTS Holdings yesterday announced that it has changed its name to The Ascott Ltd.
        20 words
      • Article
        Lock icon VDH gets nod for judicial managers
        30 5 VAN der Horst yesterday said the courts have approved the appointment of Michael Ng, Peter Chay and Bobby Chin ofKPMG as its judicial managers.
        30 words
      • Article
        Lock icon Pertama appoints MD
        25 5 PERTAMA Holdings has appointed Angek) Anthony Augustus its managing director. The 41-year-old Mr Augustus was formerly managing director of Harvey Norman Franchise.
        25 words
      • Article
        Lock icon HWa Hong names CEO
        33 5 HWA Hong Corp has appointed 51-year-old Chan Shelt Tsong its chief executive. Mr Chan is also managing director of Singapore Piling Civil Engineering, a wholly-owned subsidiary of Hwa Hong.
        33 words
      • Article
        Lock icon Omni in deal with GE's Mexico unit
        62 5 OMNI Industries has signed a three-year agreement with Controladora Mabe, a Mexican joint venture of US-baaed General Electric, to supply plastic components to Mabe and its subsidiaries for the production of refrigerators. Omni will be investing US|5 million initially in a plant in
        62 words
  • Article
    Lock icon BT SHARE information service
    4164 4 Notoom EM Date TV IV TY IV Company ann ($m) (cts) <cte) Advancod Sys Doc 13 I 0.34? 23-451. 030 2.IL Avbno Dk09 P 20.170 14.641 19.1 13.9 *KMn«l Nov 19 I 551.882 2341.3L 0.02 0.1L AslaDokorRmb Doc 20 I 50.480 24.065 7.60 3.60 APBro* Ok
    4,164 words
Page thumbnail Page 5
  • Page 5 Advertisements
    • Advertisement
      Lock icon Page 5 Advertisements Column 1
      142 5 This is what golf is all about. Jg that dimpled white sphere called the golfbalL where the humble the We outlets across the the popular Callaway, we know ourselves on knowledgeable whether a we know we for your game. Come and see us today. ■■■■HiHl^HHlHiilH^Hl^^HHHi^^^^^^^H^^P 1 Get the Game, at
      142 words
Page thumbnail Page 6
  • SINGAPORE markets
    • Article, Illustration
      Lock icon Property stocks retreat, but tech shares continue climb
      560 6  -  STOCKS r.sivanithy Although volume crossed the billion dollar mark for the third straight session yesterday, it was a mixed session as property stocks gave up all their Thursday gains and tech stocks continued their upward climb. This time round there was also
      560 words
    • Article
      Lock icon Untitled
      496 6 Stock* Volume ChoanHup 20c 49,499,000 Vickers Capital 25c 30,353,000 Hotung Inv NT5 36,578,000 MMI Hkjgs 10c 28,598,000 SembKimtrans 10c 24,340,000 SingTel 15c 23,278,000 KingboardUSIOc 17,642,000 'Genting Int 16,545,000 CityDevGSCW*****3 15,603,000 Asia Dekor HK15c 14,220,000 Stocks DBS Grp 205,041,419 SingTel 15c 64,293,573 Nat Etec 10c 61,980,284 PacificCentury 61,899,400 S1A 38,522,415 OCBC
      496 words
    • Article, Illustration
      Lock icon Value still in KL warrant sector despite strong gains
      158 6  -  WARRANT WATCH -By\ R Sivanithy IN the space of a few months, the Malaysian warrant sector has been transformed. Most warrants have now flipped over from being out-of-the-money to being in-the-money which means premiums are shrinking together with gearings. A quick
      158 words
    • Article, Illustration
      Lock icon More upside seen for Hotung
      256 6  -  HOT STOCK -By' Wong Wei Kong SHARES of Hotung Investment Holdings saw heavy trading yesterday, with the stock finishing as one of the session's most active issues. Hotung shares closed at 39.5 US cents, up 2.5 cents or 6.7 per cent. The stock opened at
      256 words
    • Article
      Lock icon Market Notices
      127 6 ♦Chuan Hup Holdings announced yesterday that it had bought back 608,000 of its own shares at 45.5 cents each under its share buyback programme. ♦Lim How Teck, a director of Neptune Orient Lines, has bought 25,000 of the company's shares. This brought his holding in the company to
      127 words
    • Article, Illustration
      Lock icon US$ ends quiet session up on another Nasdaq record
      344 6  -  -1 i comment CURRENCIES larry wee THE greenback recovered in quiet range-bound Asian trading yesterday, with Japanese markets closed for an extended weekend break. US bond markets had another horrible session after an auction of 30-year Treasury bonds saw the worst
      Source: Reuters  -  344 words
  • Page 6 Advertisements
    • Advertisement
      Lock icon Page 6 Advertisements Column 1
      486 6 SinGAPORE AIRLinES LIITIITED (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Singapore Airlines Limited (the "Company") will be held at the Mandarin Court, 4* Floor, Main Tower, Mandarin Hotel, 333 Orchard Road, Singapore *****7 on 8 March
      486 words
    • Advertisement
      Lock icon Page 6 Advertisements Column 2
      21 6 f Tha Straits Tlmas Classified whart B virtually j avarythlng i 1 Is at your J n- 1' I T.nqtnips. m
      21 words
    • Advertisement
      Lock icon Page 6 Advertisements Column 3
      24 6 Looking for a forum to talk stocks? Chatlme is the place to be. Find us at nttp //tol dbs com sg/ SS DBS BANK
      24 words
Page thumbnail Page 7
  • SINGAPORE news
    • Article, Illustration
      Lock icon Economy might outrun forecasters once again
      617 7  -  ot^n^economy Byk Anna Teo IF business sentiment is a good leading economic indicator as it has proven to be the economy should outdo the market consensus this year. The latest business expectations surveys conducted by the Economic Development Board and the Department of Statistics
      Source: BT-CBRD surveys  -  617 words
    • Article
      Lock icon PM Goh to speak at opening session of Unctad in Bangkok
      407 7  -  He will also attend a Japan-Ase&n leaders meeting today From] Harish Mehta in Bangkok PRIME Minister Goh Chok Tong is attending the AseanUnited Nations Summit in Bangkok today and will address the opening plenary session of the 10th UN
      407 words
    • Article, Illustration
      Lock icon Consider issuing 'pure'Internet banking licences
      600 7  -  lum 11 bag Joachim Tan FOR the past two years since the economic crisis, the Singapore government has embraced economic reform, liberalising the financial sector by allowing more qualifying full banks, reviewing the 1965 takeover code, imposing stiffer penalties for insider trading in the markets,
      600 words
    • Article, Illustration
      Lock icon Bang & Olufsen sees 50% jump in sales
      369 7  - Bang Olufsen sees 50% jump in sales By. Andrew Wee UPMARKET Danish audio and video equipment company Bang Olufsen Holding (B&O) expects to increase revenues here by 50 per cent in the next two years, the company's chief executive told BT. "The B&O shop in Singapore is probably our best
      CHRIS LOH  -  369 words
    • Article
      Lock icon Property launches resume after CNY
      228 7  -  By Kalpana Rashiwala WITH the Chinese New Year holidays now over, developers are launching projects once more. Starting the ball rolling was property giant Far East Organization, which has released units in two towers at its 482-unit East Meadows condo near the Tanah Merah MPT
      228 words
    • Article
      Lock icon More accountability needed from CPF agent banks
      597 7  -  Sunny Tan Keng Sooi Singapore via Internet I WAS shocked when I read Marie Lam's letter (BT, Feb 4) that agent banks of CPF investors "hold no responsibility and liability for errors in settlements other than for those caused by the negligence of
      597 words
  • Page 7 Advertisements
    • Advertisement
      Lock icon Page 7 Advertisements Column 1
      36 7 You can e-mail us at bttetterQsph.com.9g or fax us at *****71, or mail your tetter to The Business Times, Times House, 390 Kim Seng Road, Singapore *****5. Please give your full name, address and telephone number.
      36 words
Page thumbnail Page 8
  • REGIONAL news
    • MARKET moves
      • Article
        Lock icon Intria up on reports of Danaharta tender
        120 8 NEWS reports that national asset management company Danaharta had called for a tender of a stake in diversified construction group Intria Bhd resulted in active trading of the latter's shares yesterday. Intria, a unit of the sprawling Renong group, topped the actives list,
        120 words
      • Article
        Lock icon OYL rises further on good results
        98 8 CONSUMER electrical group OYL, part of the Hong Leong group, saw a second consecutive day of price increases as the market welcomed its good set of results for the six months ended December last year. OYL, which picked up RMI.IO or almost 10 per
        98 words
      • Article
        Lock icon Selective picking of telcos
        162 8  -  Compiled by Diana Oon Abdullah TELECOMMUNICATIONS group Sapura Holdings and one of its main shareholders Uniphone Bhd were two of the three telco companies which retained their shine in yesterday's market as profit-taking hit IT and technolo-gy-related companies. Sapura chalked up a 17 per cent gain
        162 words
    • Article
      Lock icon Brokers, media firms, analysts rush to join dot-com chase
      518 8 KUALA LUMPUR Bloomberg AS Malaysia's securities regulator puts its finishing touches on new rules allowing brokerages to sell stocks over the Internet, three top securities analysts are already rushing to get ahead of the game. Teoh Kok Lin, who quit in
      Bloomberg  -  518 words
    • Article
      Lock icon Revamp corporate debt, overhaul bankruptcy laws, IMF urges Thais
      480 8  -  From] Harish Mehta in Bangkok THAILAND must overhaul its bankruptcy laws, increase competition in the banking system and restructure corporate debt to strengthen its fragile economic recovery, the International Monetary Fund (IMF) warned yesterday. The IMF, which arranged a US$l7.2 billion
      480 words
    • Article
      Lock icon Soros unit to offer up to 4.5t rupiah for Astra stake
      173 8 JAKARTA Bloomberg INVESTORS led by PT Bhakti Investama, which is partly-owned by George Soros' Quantum Fund, plan to offer up to 4.5 trillion rupiah (Ssl billion) for the Indonesian government's stake in PT Astra International. Bhakti, through its Hongkongbased
      Bloomberg  -  173 words
    • Article
      Lock icon Kia sees Indon car project restarting in April
      229 8 SEOUL Reuters SOUTH Korea's Kia Motors Co chairman Chung Mong Koo said yesterday its Indonesian car joint venture could restart as early as in April. "Now that President Kim Dae Jung and Indonesian President Abdurrahman Wahid agreed on the restart of the
      Reuters  -  229 words
    • Article, Illustration
      Lock icon Stock market not overvalued: NEAC
      480 8 KUALA LUMPUR Foreign institutions eager to move in before country's inclusion in MSCI indices, it says Reuters, AFP MALAYSIA'S stock market is not overvalued and recent capital inflows have been sparked by inflow of foreign funds, the National Economic Action Council (NEAC) said. K Govindan,
      Reuters,; AFP; AP  -  480 words
    • Article, Illustration
      Lock icon The old-fashioned virtues still matter
      1302 8  -  journal Thai minister Abhisit Inspires with his splrltedness, intense hope and raw determination karim raslan The writer is a Kuala Lumpur-based lawyer WHEN I started writing this column yesterday I fully intended to write a brief profile of a young (34-year-old) but extremely impressive Thai
      FILE PHOTO  -  1,302 words
    • Article
      Lock icon HK Association of Banks raises rates by 0.25 point
      508 9 HONGKONG Savings rates now at 4%; move aims to keep HK$ competitive Bloomberg THE Hong Kong Association of Banks followed the US Federal Reserve's lead and raised interest rates by a quarter point, aiming to stave off any weakness in the
      Bloomberg  -  508 words
    • Article
      Lock icon Bank of East Asia in e-commerce talks with several firms
      309 9 HONGKONG Bloomberg THE Bank of East Asia Ltd, Hongkong's third-largest publicly traded bank, said it's in talks with several Internetrelated firms about electronic commerce business, though it wouldn't name the firms. BEA is in talks with Yahoo! Inc to develop
      Bloomberg  -  309 words
    • NOTE Book
      • Article
        Lock icon PT Telkom net meets forecasts
        69 9 Reuters [JAKARTA] Indonesian state-run telecoms monopoly PT Telkom posted an 86 per cent leap in 1999 net profit on Thursday, but profits were at the lower end of market forecasts despite revenues slightly higher than expected. Telkom said 1999 net profit was 2.17 trillion rupiah
        Reuters  -  69 words
      • Article
        Lock icon Suharto too sick to testify: lawyers
        55 9 AP [JAKARTA] Indonesia'B ex-president Suharto will not testify before a government inquiry into high-level corruption because he is too sick to speak properly, lawyers for the former strongman said yesterday. However, state prosecutors say that if Mr Suharto falls to show up they will
        AP  -  55 words
      • Article
        Lock icon Taiwan's Jan exports surge to record
        79 9 Bloomberg [TAIPEI] Taiwan's exports in January rose to a record monthly high, beating economists' expectations and bolstering official predictions that the island's economic growth in 2000 will top initial targets. Exports last month rose 21.4 per cent from a year earlier to US$ll.B9 billion
        Bloomberg  -  79 words
      • Article
        Lock icon Gus Dur may suspend Wiranto
        54 9 AP Reuters [SEOUL] Indonesian President Abdurrahman Wahid said yesterday that he might suspend his security minister if he persists in his refusal to step down. Separately, Indonesia's army chief said yesterday defiant former armed forces chief General Wiranto must follow President Abdurrahman's orders and quit
        AP; Reuters  -  54 words
    • Article
      Lock icon Chinese Web portal to list on Nasdaq next month
      259 9 SHANGHAI AFP NETEASE.COM, mainland China's second-biggest Web portal, is planning a US$lOO million (Ssl69 million) initial public offer (IPO) on New York's Nasdaq market next month, the official Shanghai Daily reported yesterday. The general manager of the site's Shanghai operations, Ding
      AFP  -  259 words
    • Article, Illustration
      Lock icon Up,up and away
      62 9 [PAMPANGA, Philippines] Hot air balloons lifting off from the ground during the start of the 6th Philippine International Hot Air Balloon Fiesta yesterday at the former US airforce base in Pampanga, north, qf Manila The event sees the participation qf 10 teams from nine countries—the Philippines, Japan,
      AP PHOTO  -  62 words
Page thumbnail Page 9
  • Page 9 Advertisements
    • Advertisement
      Lock icon Page 9 Advertisements Column 1
      74 9 Answer All entries must be dropped off at the Singapore Art Museum, 71 Bras Basah Road (no posting pleas*) by March 26, latest The draw will be on March 29 and the results will be published in The Business Times on April 1. Prises are not transferable or exchangeable for
      74 words
Page thumbnail Page 10
  • WORLD news
    • Article, Illustration
      Lock icon Air NZ to buy rest of Ansett from News Corp in the next week: report
      715 10 WELLINGTON The two parties won't comment bat market sources say a deal has been done Bloomberg, Reuters AIR New Zealand Ltd, the nation's dominant airline, will buy in the next week from Rupert Murdoch's News
      Bloomberg,; Reuters  -  715 words
    • Article
      Lock icon France Telecom confirms it's mulling bid for Orange
      285 10 PARIS Reuters FRANCE Telecom will aggressively pursue a possible bid for UK mobile operator Orange, whose operations would complement the French firm's investment in NTL, the company confirmed yesterday. "A purchase of Orange would be perfectly complementary with our investment in NTL,"
      Reuters  -  285 words
    • Article
      Lock icon Crude oil prices surge to nine-year high
      626 10 LONDON Bloomberg, Reuters CRUDE oil rose more than 2 per cent to a nine-year high as oil inventories in the world's richest countries declined on restrained output by top exporters, raising concern about possible fuel shortages. Oil inventories in the world's 29 richest
      Bloomberg,; Reuters  -  626 words
    • Article
      Lock icon Insurers not likely to pay for victims' losses from hacker attacks
      397 10 BACKER ATTACK Companies that were hit do not have specialised policies Reuters [NEW YORK] Insurers are not likely to pay for any losses suffered by the victims of hacker attacks on high-pro-file Internet sites this week, because the companies
      Reuters  -  397 words
    • Article
      Lock icon NatWest accepts Royal Bank of Scotland's bid
      415 10 LONDON Royal Bank to cat 18,000 jobs over three years Bloomberg NATIONAL Westminster Bank pic accepted Royal Bank of Scotland Group pic's £20.8 billion (5556.6 billion) cash-and-stock offer, ending a four-month battle in the biggest takeover of a British bank. The Edinburgh-based company
      Bloomberg  -  415 words
    • Article, Illustration
      Lock icon Jordan lends Bradley a hand
      347 10 PEOPLE NYT [LOS ANGELES] Former senator BQI Bradley got a big lift from an old friend on Thursday, announcing that the former Chicago Bulls superstar Michael Jordan would appear in a 30-second television commercial for the Bradley presidential campaign that was to begin running in
      NYT; FILE PHOTO  -  347 words
    • Article
      Lock icon New 30-year US bonds get thumbs down in 'worst' sale
      635 11 NEW YORK Long bond price sinks nearly 2 pts in stunning reversal of recent rally Reuters INVESTORS gave the thumbs down to new 30-year US Treasury bonds at Thursday's auction because a recent rally in bond prices has pushed yields
      Reuters  -  635 words
    • Article, Illustration
      Lock icon Bond market turmoil tests Summers' acumen
      637 11 He's getting a mixed report card so far Reuters US Treasury Secretary Lawrence Summers, lauded globally for his economic smarts and growing diplomatic savvy, now must prove his mettle on Wall Street. With the US bond market entering its second week of turmoil, so
      Reuters; FILE PHOTO  -  637 words
    • Article
      Lock icon Shell's share buyback may take place as early as 2001
      334 11 LONDON FT ROYAL Dutch/Shell, the Anglo-Dutch energy group, on Thursday gave its strongest signal yet that it will be allowed to embark on a regular, multiple year, multi-billion dollar share buyback programme as early as 2001. Mark Moody-Stuart, chairman, said
      FT  -  334 words
    • WORLD Watch
      • Article
        Lock icon AIG 4th-qtr earnings up 16%
        58 11 Bloomberg [NEW YORK] American International Group Inc, the largest US insurer by market value, said its fourth-quarter earnings had risen by 16 per cent. Profit from operations rose to US$l.32 billion (512.3 billion), or 84 US cents a share from US$l.l4 billion or US 73
        Bloomberg  -  58 words
      • Article
        Lock icon Flat last quarter for Dell
        64 11 Reuters [NEW YORK] Dell Computer Corp, the world's No 2 personal computer maker, on Thursday said fourth quarter net profits grew only 3 per cent to US$436 million (Ss74l million). Net income for the fourth quarter of US$436 million, or 16 US cents per share,
        Reuters  -  64 words
      • Article
        Lock icon MCI WorldCom profit soars
        60 11 Bloomberg [CLINTON, Mississippi] MCI World Com Inc, which is buying rival long-distance phone company Sprint Corp, said fourth-quarter earnings almost tripled on sales growth in high-profit Internet, international and data services. Profit from operations rose to US$l.24 billion (Ss2.l billion), or 42 US cents a share,
        Bloomberg  -  60 words
      • Article
        Lock icon Job losses at Lloyds TSB Bank
        34 11 AFP [LONDON] Lloyds TSB Bank yesterday announced plans to shed 3,ooojobs while reporting record pre-tax profits of £3.6 billion pounds (559.7 billion) from £3 billion pounds last year.—AFP
        AFP  -  34 words
    • Article, Illustration
      Lock icon AEA raising profile in Asian environment market
      419 11  -  SINGAPORE By' Toh Han Shih LONDON-listed AEA Technology is moving aggressively into the environment market in Asia with initiatives in a host of countries. For example, it is bidding for a tender with Singapore's Maritime Port Authority to provide its computer model to
      419 words
    • Article
      Lock icon ECB won't help out ailing euro: 'directly': Duisenberg
      542 11 MUNICH AFP EUROPEAN Central Bank (ECB) president Wim Duisenberg has said in an interview that the bank will do "nothing directly" to halt the fall of the euro, insisting that the currency will rise without intervention. Speaking to yesterday's edition of the
      AFP  -  542 words
    • Article
      Lock icon Janus signs pact with Nomura to ' sell funds in Japan
      358 11 Janus signs pact with Nomura to sell funds in Japan TOKYO US group feels room in Tokyo for sexier investment product Bloomberg JANUS Capital Corp, the best-selling US mutual fund group, is taking its show to the world's No 2 economy. The Denver-based unit of Kansas City Southern Industries Inc,
      Bloomberg  -  358 words
  • Page 10 Advertisements
Page thumbnail Page 11
  • Page 11 Advertisements
    • Advertisement
      Lock icon Page 11 Advertisements Column 1
      279 11 THE COMPANIES ACT CHAPTER 9$ Sectioa 2M(2)(b) NOTICE Of RESOLUTION AFRESH MARKETING PTE LTD Members' Valaatary lit Hi.) At an F-Uraonlunry Genoa! Meeting of Afroah Marketing Pie Lid held oo 4th day ofFebraaty 2000, die following apodal leaulntmns were duly paaaed. RESOLVED: t. That thr company be wound up voluntarily
      279 words
Page thumbnail Page 12
  • FINANCE & commodities
    • Article
      Lock icon Futures down as property stocks retreat
      286 12  -  S6Z Derivatives Tradingßeports MfrWnl Mwgapwft tnilflv Daphne Tay, Jardine Fleming THE Singapore stock market ended slightly firmer but on a mixed note yesterday, with gains in technology issues thwarted by weakness in banks and property counters. Technology issues continued to be hot, supported by
      286 words
    • Article
      Lock icon Futures up marginally despite share surge
      207 12  -  MSCI Taiwan ftitaras Lee Shu Weng Refco Singapore POSITIVE news flooded the Taiwan market yesterday sending the Taiwan Weighted Price Index raUying to a 10year high to close at 10,128.67. Bullish economic forecasts of a 6.5 per cent GDP growth by Taiwan's prime minister
      207 words
    • Article
      Lock icon Oil breaches US$28 hurdle
      220 12 ENERGY REPORT Reuters [LONDON] OU prices leapt to fresh post-Gulf War highs yesterday after Saudi Arabia deepened export cuts and the West's energy watchdog warned consumers of a worldwide scramble for supply. Benchmark Brent crude comfortably hurdled US$2B a barrel for the first time in nine
      Reuters  -  220 words
    • Article
      Lock icon CURRENCY REPORT
      328 12 Reuters T THE US dollar reached a fivemonth high against the Japanese yen and was firm against the euro yesterday, lifted by expectations the US economy would keep outpacing Japan and euro zone amid record gains in US technology stocks. The dollar shrugged off Thursday's losses in US
      Reuters  -  328 words
    • Article, Illustration
      Lock icon Untitled
      1198 12 PtTEBBAlim CROSS RATES A3 C$ Iwfc E»o Ffr f W Wis hptati Yen Won tH *2$ Nfc is N»o SS land Sfr NTS 8afct Hmt US$ Australia 0.911 6.171 0.637 4.181 1.247 4.893 27.430 45.962 0.687 7.010 2.389 1278 32.596 25.430 1065 3.976 1024 19.252 ***** 0J91 0.629 Canada 1.098
      1,198 words
    • Article
      Lock icon Untitled
      1702 12 BIOOM FUTURES Febu RU88ER (futures ctostag as at SJOpa) RSS1 CONTRACTS cwtiA«) Ctosa Votaw Opaa Month Wtk tmr Satt (tomms) latarart Mar 00 126.00 600 K00 OOOO 300 00 t32J50 300 Jan 00 135.00 300 RSS3 CONTRACT (UScwbAq) ValMM OpM mm* i— sttt (t—iQ tirtfst Mar 00 77.00 75J0 77.00
      1,702 words
Page thumbnail Page 13
  • STOCKS east asia
    • Article, Illustration
      Lock icon Hang Seng soars to record close on HKT talk
      2813 13 HONGKONG AFP 71 Hang Seng +535J3 HONGKONG share prices surged 535.13 points to a record closing high yesterday on news that a Hongkong consortium was considering a bid for the territory's main telecommunications network to rival a proposed Singaporean takeover. After
      AFP  -  2,813 words
    • Article
      Lock icon TAIPEI
      336 13 AFP FIWP Index +7LOO TAIWAN share prices rose for the third straight day yesterday by 0.7 per cent, on upbeat sentiment on the back of strong foreign buying, dealers said. The Taiwan Stock Exchange Weighted Price Index moved up 71.00 points to 10,128.67. Volume was NT5253.1 billion against NT5214.7
      AFP  -  336 words
  • Page 13 Advertisements
    • Advertisement
      Lock icon Page 13 Advertisements Column 1
      65 13 The most delicious ■E v every Monday in lira New Paper Fastada. r3St3OS 1 r- M I I I I I I r II mm I y I II; 4 I m mm lIV |l •V. i <1 J r +J&&' igjE* \F 1" £||§£sf |g>- pp HBusmTK INTELLIGENCE CHANGES
      65 words
Page thumbnail Page 14
  • STOCKS klse
    • Article
      Lock icon Untitled
      9128 14 Transaction date: Feb 11 I INDUSTRIALS C mummy yiitli 2000 Last Vol Day Net Cap High Lw Company Sale 'OOP High Low P/I $mll 402 310 Ajlnomoto 402 12 9 402 390 25.5 162.9 130 91 Anqkasa 118 -1 190 122 110 174.0 444 290 Apollo Food Hlg 416 6
      9,128 words
    • Article, Illustration
      Lock icon Shares get lift from play on second-liners
      441 14 AFP F1 Composite Index +122 MALAYSIAN shares closed slightly higher yesterday due to retail investor play on second-liner stocks, dealers said. The Kuala Lumpur Stock Exchange Composite Index ended up 2.22 points, or 0.2 per cent, at 999.81. The Second Board Index rose
      AFP  -  441 words
  • Page 14 Advertisements
Page thumbnail Page 15
  • SGX clob & regional stocks
    • Article
      Lock icon Untitled
      3547 15 BONDS WARRANTS mn *t Mi M linn 1MM LhI Dm LhMmM hurt Cen bar Mm Mtkt Nt# IM Mm Cmpmt M# *m- CO**) U> N« SeM Mn MM Prtc# |%t teart*2 left 104 10.5 s am> *0MrWaiW3HW$ 43 unch 60 43 42.5 43 43.5 33jJ 1 15» 72 2.70 17
      3,547 words
    • Article
      Lock icon SEOUL
      290 15 AFP n Composite Index -1196 THE Korea Stock Exchange Composite Index yesterday closed down 12.% points at 953.22, off a low of 941.24. Volume was 272.5 million shares worth 4.2 trillion won. AFP row *h Arum Sentl .8600 -520 Brain Tech 1640 -»0 Central Bank 2800 -160 CheOComm I2SOOO
      AFP  -  290 words
    • Article
      Lock icon MANILA
      289 15 AFP Q Composite Index -2244 PHILIPPINE share prices fell 1.1 per cent yesterday due to the lack of positive developments domestically, an analyst said. The Philippine Stock Exchange Composite Index fell 22.94 points to 1,997.21. Volume rose to 5.3 billion shares worth 4.4 billion pesos. —AFP Ft* H Peso
      AFP  -  289 words
    • Article
      Lock icon WELLINGTON
      264 15 AFP QMSE-MI +IL9B NEW Zealand's share prices edged up yesterday in erratic business and on thin volume. The NZSE-40 Index closed 11.89 points, or 0.6 per cent, up at 2,041.19 and volume was just NZ555.4 million, light for a Friday. Telecom Corp rose four cents to NZ$B.46. —AFP mn
      AFP  -  264 words
    • Article
      Lock icon SYDNEY
      564 15 AFP n All Ordinaries -6.4 AUSTRALIAN share prices were weaker yesterday with falls in News Corp dampening the impact of Telstra's resurgence, brokers said. The Australian Stock Exchange's key All Ordinaries Index fell 5.4 points to 3,167.1. Turnover was 983.8 million shares worth AJI.9 billion. The All Industrials Index
      AFP  -  564 words
    • Article, Illustration
      Lock icon BANGKOK
      776 15 AFP Q SET Index <002 THAI stocks rose slightly yesterday as speculators targeted the communications and electronics sectors but selling in banks limited gains, dealers said. An analyst said gains on Nasdaq boosted local communications stocks. The Stock Exchange of Thailand (SET) Index closed up 3.02 points, or 0.7
      AFP  -  776 words
    • Article, Illustration
      Lock icon JAKARTA
      716 15 AFP P Composite Index -4J7 INDONESIAN share prices closed 0.6 per cent lower yesterday on selling in Telkom after the announcement of its 1999 results, dealers said. A dealer said the selling was probably only profit-tak-ing after the price rose sharply on Thursday in anticipation of positive results. "People
      AFP  -  716 words
  • Page 15 Advertisements
Page thumbnail Page 16
  • Article
    Lock icon STOCKS sgx
    8785 16 SOX maimbqard Transaction date: Feb 11 Or Cr M Wt S2-WH Last Vol Day Last QuoU Dlv Dlv YM Nat Cap Avg Win U» MN« Ciwpswy Sala l*OOQ) High Law ■wyar 5a8ar CV P/t tmb Wo MUtfl INPUITRV 182 69 m c 1000 Acma 50c 134 -3 227
    8,785 words
Page thumbnail Page 17
  • Page 17 Advertisements
    • Advertisement
      Lock icon Page 17 Advertisements Column 1
      250 17 Where to wine, dine and entertain^OfiSaSß- SE££2!!i£2 Weekend Lovers' Nest Package $218 per couple inclusive set dinner and a deluxe room with breakfast for 2 Romantic Candlelight Gala Set Dinner $98 per couple Happy Valentine's Day International Buffet Dinner $35 (Adult) inclusive of a stalk of rose and door gift.
      250 words
    • Advertisement
      Lock icon Page 17 Advertisements Column 2
      22 17 »>•'<*V s 1 HOTEL QRAMD CENTRAL UMITEO 22 Orchard Road/Cavenagh Road, Singapore *****7 Tat: 737 0044 Ext 400/02 Fa*; 733 5175 I
      22 words
    • Advertisement
      Lock icon Page 17 Advertisements Column 3
      144 17 B. Advertise in Wine, Dine Entertain of The Business Times. Contact Patrick Ang at 740 1284, Amy Choo at 740 1559, or Shirley Lee at 740 2290 now. LOVE at Mandarin Singapore Reservations *****58 ffeVE It's a seduction of the senses at Marina Bistro this Valentine's Day. 12th 13th $40/
      144 words
  • Page 17 Miscellaneous
    • Miscellaneous
      Lock icon Page 17 Miscellaneous Column 1
      910 17 niiii€>»(TTTsni^—^ Central nal Shinsult. 10.00 TV Innovations. 2.00 To 6.00 am: Real-time OM A 4 -3® Home Improvement. 3.00 Dongeng Rakyat. Financial Data. i 8.00 AM Kids Central: The 5.00 Triple Nine. 330 Frootees: Dengki. Teletubbies. 6.00 Nightman. 4.00 Siapa Bos. Bportsrtty vHRSSfIii 8-30 Postman Pafs ABC 7 .00 Saturday
      910 words
    • Miscellaneous
      Lock icon Page 17 Miscellaneous Column 2
      307 17 CRYPTIC CROSSWORD ACROSS 3 Common noun in new form (3-1) 1 Customer's right established in 5 Tax lam able to declare in Rome court (6) (7.5) 4 A compulsory tum-out (8) 6 Taltan 9 bW W 9 Missing sailors-ten adrift (6) 7 Hard water? That depends (6) 10 Taking offence
      307 words
Page thumbnail Page 18
  • The Arts
    • Article, Illustration
      Lock icon CULTURAL CROSSINGS
      917 18  -  Australian art is basking in the Singapore spotlight as two ongoing exhibits show. Museum curators and gallery owners share their views with parvathx MAYAZt on how the local appetite for art from Down Under has grown PARVATHI NAYAR The Rose Crossing, An Affair to Remember: Two art exhibitions
      917 words
    • THE ARTS
      • Article, Illustration
        Lock icon Australian art under scrutiny
        1840 19  -  AN AFT AIR TO REMEMBER Two exhibitions currently in Singapore showcase the artistic talents from Down Under, parvathx nayar takes in the works on display PARVATHI NAYAR The Rose Crossing is an unusual name for an art exhibition. The unusual factor only increases when you learn
        1,840 words
      • Article, Illustration
        Lock icon Vollard's legacy to art world
        454 19  -  By: Felicia Yap THE cultural vibrancy of the magnificent Vollard collection continues to enthrall visitors at the current Unmasking Vollard exhibition at the Singapore Art Museum. With some 159 paintings, sculptures, graphic works and prints which embody the development of the avant garde movement from
        454 words
      • Article, Illustration
        Lock icon Keeping Chinese culture alive
        307 19  -  By Felicia Yap CAN traditional culture embrace modernity? This is what the Chinese Cultural Festival 2000 aims to explore in a month-long extravanganza from Feb 20 to March 19 with a total of 151 exciting events island-wide. Bearing the theme "Traditional Culture, Modern Spirit", the festival
        307 words
      • Article, Illustration
        Lock icon Tammy's leap of faith
        1323 21  -  The dancer tells parvathx matar of her decision to forsake the bright lights and vibrancy of New York for the country of her birth Singapore PARVATHI NAYAR Tammy L Wong set up the tammy 1 wong dance company in October 1998, on the proverbial shoestring budget
        PHOTOS BY CHRIS LOH  -  1,323 words
      • Article, Illustration
        Lock icon Would you let me be your Teddy Bear?
        477 21  -  Thickly-daubed paint aside, the subjects, being toys, fail to come alive on canvas By\ Parvathi Nayar PADDINGTON Bear wears orange boots, Cheeky Summer Sky is pastel blue, Chilli Pepper comes adorned with a red bow. These are not actual bears but two-dimensional
        477 words
      • Article, Illustration
        Lock icon Flights of fancy in Paradise
        472 21  -  Montalvo-Hervieu Compagnie is set to dazzle Singapore with their witty version of Paradise By Felicia Yap WELCOME to Paradise, a land of sheer fun and delight, a cross between Liliput and Gargantualand, a realm where little children, elephants, zebras and camels sway to Handel and
        472 words
      • Article, Illustration
        Lock icon Here is my handle, here is my spout
        507 22  -  Teapots are a whimsical medium that offers insights into the world of art and culture, as parvathx nayar discovers at The British Council's current exhibition PARVATHI NAYAR The Indians, the Chinese, the Japanese we all drink tea, and the drink has an
        507 words
    • Article, Illustration
      Lock icon THE PROGRAMME
      1468 20  -  Compiled by M Yasotha/ Parvathi Nayar MUSIC Singapore Symphony Orchestra Bach 250 th Anniversary Commemoration To commemorate the 250 th anniversary of the death of Johann Sebastian Bach, the SSO presents the Bach Choir of Gutersloh from the German North Rhine and Westphalia in J S Bach's choral
      1,468 words
    • Article, Illustration
      Lock icon SPOTLIGHT
      223 20  -  By Parvathi Nayar The Buzz: Valentine's Day highs and lows he loves me he loves me "knot"—as fodder for stand up comedy. Plot and Flayers: TV's funny couple, Selena Tan and Andrew Lim from Under One Roof combine the fun of Broadway love songs and musical numbers with witty
      223 words
  • Page 18 Advertisements
Page thumbnail Page 19
  • Page 19 Advertisements
    • Advertisement
      Lock icon Page 19 Advertisements Column 1
      44 19 BT readers stand a chance to win free air tickets to Paris in a contest presented by Air France and The Business Times in conjunction with Sofitel Paris Bercy and Hotel Sofitel Plaza Saigon. For details, refer to the contest form on Pg 9.
      44 words
Page thumbnail Page 20
  • Page 20 Advertisements
    • Advertisement
      Lock icon Page 20 Advertisements Column 1
      53 20 The Average Size and Performance of a PruLink Fund. PruLink Singapore Managed Fund the largest unitised fund in Singapore. JvJ gMfe: *—w.. An unbeatable record with over $730 million k myjrt invested by 90,000 people since its launch in 1992. Probably the best managed funds today INVESTMENTS Always Listening. Always
      53 words
Page thumbnail Page 21
Page thumbnail Page 22
  • Page 22 Advertisements
    • Advertisement
      Lock icon Page 22 Advertisements Column 1
      62 22 mk&SSRG& I *&*> >' < >«,' ,».< W^' 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
      62 words