The Business Times, 19 February 2000
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2000-02-19
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The Business Times
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Title Section22 2000-02-19 1 THE BUSINESS TIMES MITA (P) 035/12/1999 85e S I N G A P O R Internet: http://business-times.asial .com.sg/ SATURDAY. FEBRUARY 19, 200022 words
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Article67 2000-02-19 1 □m 2JMM (-52.69) mM ma (-17.18) nsnraanmnss mm 2MJ9 (-7.20) STOCK HABKET DIDICES Friday Change 4BIETOIP 1,***** +146 NIKKEI 19,789.03 -U7 HANO SENO 16,549.16 -J82.97 SET INDEX 496J6 +114 JAKARTA COUP Mt&7 jtta MANILA COMP _L***** +14J7 TAIPEI WPI 1MNJ8 -***** SEOUL COMP ***** -18J8 CLSA CHINA B67 words
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Article73 2000-02-19 1 FOKEX SATES USJ 81 U5S 1.796 £(lfS$/S$per£) LIN 1717 EUB0(IBS/8S/E) 0J86 1.(83 DM 1J81 mi YEN 1IA8 U» XX im 9.449 HKS 7.789 0219 BAHT 38J1 9.945 RUP1AH 7,498 9.023 •SttoUO itftto PUKE BATES SINGAPORE* J KlIALALUMPTR 767 JAKARTA J9 oo BANGKOK 9 g0 MANILA 11.00 HONGKONG 830 TAIPEI73 words
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Article, Illustration689 2000-02-19 1 Quak Hiang Whai, Meera Tharmaratnam - Retail investors snap np prospectus of Tom.com, which aims to raise HKs762m From< Quak Hiang Whai, Meera Tharmaratnam in Hongkong MANY in the queues had no idea what the company does but they snapped up the application forms for its shares anyway, as689 words
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631 2000-02-19 1 Harish Mehta - Deal includes logistics business, services to Web sites From] Harish Mehta in Bangkok SINGAPORE Technologies Telemedia and Thailand's Nation Multimedia Group have teamed up to launch their first e-commerce venture in Thailand. The Thai deal came just a day after Singapore's Pacific631 words
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Article, Illustration964 2000-02-19 1 Ven Sreenivasan - Only $423m«fCPF savings in mit trusts ssstend-99 By' Ven Sreenivasan [SINGAPORE] The Central Provident Fund (CPF) Board is studying several initiatives to boost CPF investments in unit trusts. CPF chairman Ngiam Tong Dow, delivering the keynote address at the 1999 InvestmentSIEW YAW HOONG - 964 words
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949 2000-02-19 1 VIKRAM KHANNA - COMBmiT The Fed's strategy could backfire, warns VIKRAM EHAMIfA VIKRAM KHANNA IF there were any doubts about whether the US Federal Reserve was bent on puncturing the US stock bubble rather than containing inflation per se, those should have been dispelled949 words
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Advertisement88 2000-02-19 1 DBBPB Top stories Cathay Building to be redeveloped for $100 m. Mmxt Pmgo Govt gives promise on power quality. Mmxt Pmgm Delgro makes $202 m bid for London-listed bus firm. Pg 3 Keppel Corp stock slips despite record profit. Pg 3 Acma, Lum Chang enter e-commerce deals. Pg 5 Loan88 words
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Advertisement15 2000-02-19 1 DBMhr soars qfler Greenspan's speech, Pg 4 r» niwicer—< about oil prices: Greenspan, Pg 1115 words
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NEXT page
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Article, Illustration602 2000-02-19 2 Kalpana Rashiwala - -II exclusive Feasibility study being done to redevelop adjacent Cathay Apartments By Kalpana Rashiwala [SINGAPORE] A privatelyowned vehicle of Cathay chairman Choo Meileen will invest about $100 million to redevelop the site of Cathay Building, which was the first high-rise property inCHRIS LOH - 602 words
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341 2000-02-19 2 Audrey Tan - Byi Audrey Tan [SINGAPORE] Singapore's inflation rate is likely to stay within one to 2 percentage points, despite the rise in global oil prices. Prime Minister Goh Chok Tong said yesterday. While rising oil prices will have "some effect" on the cost of manufacturing,341 words
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427 2000-02-19 2 Jennifer Lien - Occurrence of voltage dips to be minimised to cot impact on hi-tech firms' operations By, Jennifer Lien [SINGAPORE] Singapore will work hard to minimise the occurrence of power dips, which affect high-tech companies' operations in the Republic, Prime Minister Goh Chok Tong said yesterday.427 words
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ON THE grapevine
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Article206 2000-02-19 2 IT was a cat-and-mouse game that Economic Development Board chairman Philip Yeo had to play with some 20 reporters yesterday at the reception following the groundbreaking of Chartered Semiconductor's new wafer fabrication plant. A smiling Mr Yeo was making his way into the reception206 words
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Article139 2000-02-19 2 AFP reports that more than 450 Thais yesterday set off on a bid for a bizarre endurance record, hoping to win a place in the Guinness Book of Records for the longest visit to the movies. Some 363 men and 105 women applicants were subjected to a139 words
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Advertisement17 2000-02-19 2 HrODAYltytt-Mtt. Ma'anhPlgnlan g Weekend holiday spending sprees boosting consumption in China as people enioy more aays-orf now17 words
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SINGAPORE companies
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Article, Illustration600 2000-02-19 3 Christopher Tan - Price represents PE ratio of 10.3 times 1999's after-tax earnings of £7-2 m By i Christopher Tan LISTED transport group Delgro Corp has made an offer for a smallish bus firm in London for about $202 million. In a statement yesterday,600 words
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Article, Illustration216 2000-02-19 3 Teh Hooi Ling - Reports by Teh Hooi Ling THE chief executive of Singapore Telecom's multimedia unit Paul Chong has resigned. Mr Chong's last day was yesterday. His duties have been taken over by Leong Shin Loong, group director of human resources. BT understands that Mr Chong is settingFILE PHOTO - 216 words
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692 2000-02-19 3 lee han shih - WMH lock siew lee han shih AS more and more Singapore companies jump into the Internet business, they will soon encounter what might be called "the Jack Welch dilemma". Jack Welch is chairman of General Electric of the United States. In a country692 words
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341 2000-02-19 3 Its total investment in firm has $659 m in unrealised gain SINGAPORE Telecom, whose share price has been under pressure lately, announced yesterday that it has increased its stake in Thai cellular operator Advanced Info Service (AIS) from 18.63 per cent to 20 per341 words
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488 2000-02-19 3 Conrad Raj - Investors nnmoved by promise to torn company into a growth stock Byi Conrad Raj AFTER an initial spurt, Keppel Corporation's shares ended the day in minus territory despite announcing record profits of $220 million for last year and forecasting that it would have488 words
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COMPANY Briefs
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85 2000-02-19 5 AUSTRALIA'S Colonial Group, the parent company of Singapore-based fund manager CMG First State Investments, yesterday said it is set to acquire Edinburgh-based independent investment management company Stewart Ivory. The move is expected to bring long-term benefits to CMG although details are not available because85 words
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66 2000-02-19 5 AFP INTERNET portal Lycos Asia yesterday began services for Malaysia's first Web site with localised content. Lycos Asia, a joint venture between Lycos Inc and Singapore Telecommunications, said www.lycosasla.my will feature Web channels, electronic mail service and Web communities specifically tailored for Web users'AFP - 66 words
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Article102 2000-02-19 5 HIND Hotels International, which stopped its hotel operations and disposed erf all assets and investments in its New Zealand subsidiaries last year, has reported group net loss of $15.9 million for the year to December 1999. In 1998, it achieved a net profit of $587,000.102 words
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269 2000-02-19 5 Marissa Chew - By Marissa Chew SINGAPORE Airlines and British Airways have agreed to drop their suits against each other over the designs of their sleeper-seats and SIA will continue to have its skysuites in its First Class cabin. A statement from SIA yesterday said that the269 words
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Article, Illustration400 2000-02-19 5 Andrea Tan - Acma nnit to acquire Pacific Net.com; Lum Chang ties np with Lycos Asia, 2 others By. Andrea Tan ELECTRONICS-BASED Acma Ltd and construction group Lum Chang Holdings yesterday shook hands with asset trader Oei Hong Leong and Internet giant Lycos in separate deals toCHRIS LOH - 400 words
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375 2000-02-19 5 Wong Wei Kong - They help prevent hostile takeovers; stock prices, ownership diluted By' Wong Wei Kong SHARE options may not always turn out to be the winwin proposition they are often made out to be. While there are clear advantages in the adoption of375 words
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414 2000-02-19 5 THE Philippines' largest electronics exporter, lonics group, is listing its electronics manufacturing services arm in Singapore. lonics EMS is offering 156 million shares at 60 cents each, which works out to a historical price earnings ratio of 18.4 times. lonics' initial public414 words
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Advertisement27 2000-02-19 3 r >*R to common r problems." I ■?s&** »^-H r 5:5 ,xwrinnovation and operational excellence. I ''ASslsEM** sr..» ■>.• ;i, Av :-k- a6 r i»; .4"-. ■fl fl27 words
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SINGAPORE markets
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Article, Illustration184 2000-02-19 4 R Sivanithy - Belton warrant not a very attractive instrument WARRANT WATCH By R Sivanithy SEVERAL times before, we've highlighted the wide variety of choice available in the Malaysian warrant segment. One of the more common features we've seen is a 10-year time extension with two exercise prices. What we haven't seen is184 words
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Article, Illustration544 2000-02-19 4 r. sivanithy - STOCKS -ii comment r.sivanithy PENNY stock fever mingled with Internet-ma-nia yesterday continued unabated despite comments made by US Federal Reserve chairman Alan Greenspan which sent blue chips reeling both here and around the region. Dealers said traders were unfazed by Mr544 words
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Article473 2000-02-19 4 Voluma OoWtron20c 100,794,000 MMIHIdgslOc 64,243,000 *Q«nting lot 51,159,000 IPCCo»pn5c 46,581,000 Unco HkjgslOc 41 ,277,000 TetedatalOc 37,480,000 Form HUgs 5c 33,789,000 SambWmtrans 10c 28,753,000 Victors Capital 25c 28,500,000 BenafunHKIOc 28,308,000 Stocfca MMIHIdgs 10c 65,840,310 DBSQip 63,291,532 OokJtron20c 49,825,445 Vlckare Capital 25c 40,155,930 QES Intt Ltd 20c 36,747,180 TaMata 10c 34,823,755 SPH473 words
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Article, Illustration233 2000-02-19 4 Wong Wei Kong - HOT STOCK By Wong Wei Kong SHARES of MMI Holdings hit a new 52week high yesterday in heavy trading, finishing as the session's second most active stock. MMI shares rose 5.5 cents or 5.8 per cent to $1.00, beating the previous 52week high of 94.5233 words
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Article161 2000-02-19 4 JACK Chia-MPH said substantial shareholder Cheong SP Holdings, through Edenlia Pte Ltd, has raised its interest in the company by 6.5 million shares worth $6.56 million to 103.71 million, equal to 41.24 per cent of the JOMPH's capital. ♦THE Capital Group Companies, Inc has sold another 14,000 SPH161 words
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Article, Illustration343 2000-02-19 4 larry wee - I»li comment CURRENCIES larry wee THE greenback soared yesterday after Nasdaq, totally nonplussed by US Federal Reserve chairman Alan Greenspan's warning about overheating in the US economy, reached a new high on Thursday night. While recent price action has indeed suggested that US dollarSource: Bridge - 343 words
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Advertisement85 2000-02-19 4 EinA2iffi:£, *a*&9 *7£WWolii, it*Jfc£)lkWm#£*jfc;&lii*«tt£A. *iJft*lft*jfe I ill/-l w&^jtt, -L Tit7J *n^###£ft&fn t^tlggftJittia ■11 tjjff wmfemAmeeTcwm i*JlW£i*J]st*r£n HM: 2ooo#3«7B T«to+*ate®Mir mias (MK-) fc«to*B4*¥£>l!M¥&KfciSsfcili|«fta# 8W 30*2 #wwHsiw: -ma^ir -R=sW3o# AlßM(*)«iA*lß&a*»ea#«jtsfe4lil */S: »»afi*a/g S«»#ff iS8r!ill«8S$g»BIS!lk«-S (*lS*¥#*K) »KSJgSsfc4Sitt mfflm SSSSBi W£^4 'h£iHk •S™ ;s^ IMI •iimr™ -isr** «JSft£ fll ~*****05~ 1 JIX XI Tu85 words
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Advertisement23 2000-02-19 4 Looking for a forum to talk stocks? Chatlme the place to be Find us at http //\o\ dbs com sg/ 881 )lVs BANK23 words
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Article3104 2000-02-19 5 I9a*06r* J» lumChong Sop 30 P 1.248 Ma 099 2.44 L iL UWfMtHW Dm 03 I ***** am 22.7 n.9 Cawpaoy mm t$m Bmt m«) <P9o> MM topi* P IMN 19.7*7 MO 7.12 7™ 7~ "»a OJ*» O*3*L om UL B£M P 2££» i- "W«a *MW3,104 words
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SINGAPORE news
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690 2000-02-19 6 Anna Teo - Details of 1999 performance next week; Jan trade, output figures expected to be robust on the economy Ryi Anna Teo AFTER a little lull on the data release scene, a whole string of indicators will be unveiled in the next week or two690 words
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Article, Illustration431 2000-02-19 6 Soh Tiang Keng - It will join hands with Johns Hopkins and HE university By I Soh Tiang Keng THE government-backed Cancer Therapeutic Research Group (CTRG), formed in 1997 as part of the drive to develop Singapore into a life sciences hub and centre for drug development andSIEW YAW HOONG - 431 words
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869 2000-02-19 6 Malik Tahir, Sungai Petani, Malaysia via Internet - MAiurrrn Malik Tahir, Sungai Petani, Malaysia via Internet I FIND the letter by Andrew Tan ("Clob: Prepare to play hardball", BT, Feb 9) to be of very good prose and high Intelligence. I feel that he has set out very well the869 words
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327 2000-02-19 6 Eugene Low - By\ Eugene Low LOCAL companies looking to invest in Indonesia can now get loan assistance from the government. The regionalisation finance scheme for Indonesia, which was launched by the Economic Development Board (EDB) yesterday, caters to both large local companies and small327 words
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362 2000-02-19 6 Jennifer Lien - BO Yeo opens wafer maker's USs3Bom plant in Tampines By, Jennifer Lien SILICON wafer maker Wacker Siltronic's move into ebusiness, together with its high technological expertise and regional headquarters status, are reflective of the kind of knowledge-based economy Singapore is362 words
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191 2000-02-19 6 THE government will soon require all expatriates and long-term visitors to get a clean bill of health before it grants them permits to work or live here. From March 1, even applicants seeking employment passes and those wishing to stay for more than six191 words
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490 2000-02-19 6 Quak Hiang Whai - Frorni Quak Hiang Whai in Hongkong THE private sector should be given every opportunity to be involved in public housing development in Singapore if they prove they can do a better job than the public sector, National Development Minister Mah Bow490 words
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e News
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411 2000-02-19 7 BANGKOK Purchase will give firm 54% of cellular market made up of &3m users Bloomberg SHIN Corp, which controls No 1 Thai mobile phone operator Advanced Info Service pel, said it reinforced its mar-ket-leading position by buying 46 per cent of NoBloomberg - 411 words
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369 2000-02-19 7 WASHINGTON Bloomberg A JOINT Web site being created by 27 airlines, including four major US carriers, seeks to monopolise the sale of travel services over the Internet, a travel agents group said in a complaint to US authorities. The airlines'Bloomberg - 369 words
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e Briefs
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77 2000-02-19 7 Reuters [LONDON] The Internet is set to overtake independent financial advisers as the main source of information for wealthy British investors, according to a survey published by Continental Research, Only 9 per cent use Web sites as their main source of financial information atReuters - 77 words
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74 2000-02-19 7 Reuters [LONDON] British investors showed the continuing strength of their appetite for Internet launches on Thursday by piling into shares in a heavyweight newcomer, Interactive Investor International pic. Shares in the online financial information group more doubled in the first seconds of trading and closedReuters - 74 words
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65 2000-02-19 7 Bloomberg [HONGKONG] The Bank of East Asia Ltd, Hongkong's third-largest publicly traded bank, teamed up with Hong Kong and China Gas Co Ltd, Hongkong's sole piped gas distributor, and Harmony Asset Ltd to form an online shopping company, ißrandDirect.com Ltd, which will helpBloomberg - 65 words
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262 2000-02-19 7 SUVA, Fiji AFP STATE owned Telecom Fiji said yesterday it was searching for a new international Internet supplier after services were shut down for close to 48 hours this week. Fiji's international Internet links including e-mail services, had been experiencing disruptionsAFP - 262 words
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361 2000-02-19 7 ■TOKYO It wants to market its cars through Toyota's Web site Reuters AN amorous General Motors Corp stepped up its Internet courtship of Toyota Motor Corp yesterday, saying it wanted to use Toyota's Web site to market its vehicles in Japan. GM, theReuters - 361 words
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458 2000-02-19 7 KUALA LUMPUR Bernama BUYING a house or obtaining the latest information on the local property sector can soon be done through EmasOnline, the newest Web site that was developed by a Malacca-based company. Extranet Marketing and Services managing director Paul Chan said EmasOnline is holdingBernama - 458 words
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Article, Illustration451 2000-02-19 7 Bloomberg [TOKYO] Sony Computer Entertainment Inc said its Play Station.com Web site crashed after orders for its Play Station 2 video game console overwhelmed the system. The site froze up at about midnight Japan time, shortly after it opened to take ordersBloomberg; REUTERS - 451 words
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Advertisement101 2000-02-19 7 iHSE International Congress on Viral Hepftitte, 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 Deed's Nite 27 Feb Internet World Asia O 1-3 Mar Singapore Information Is correct at the time101 words
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REGIONAL news
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Article, Illustration533 2000-02-19 8 Eddie Toh, Teh Hooi Ling - It will provide 'broadband pipes'; NSTP, TV3 will be content providers From Eddie Toh, Teh Hooi Ling in Singapore THE share price of Time Engineering skyrocketed yesterday on reports it may tie up with two major Malaysian media groups to form a telco-media-IntemetSource: Bloomberg - 533 words
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390 2000-02-19 8 JAKARTA Bonds' interest rates match 3-month central bank bills now about 11% Bloomberg PARDI Kendy, managing director of PT Bank Buana Indonesia, made Indonesian history yesterday, becoming the first buyer of Indonesia's 282 trillion rupiah in recapitalisation bonds on the secondaryBloomberg - 390 words
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Article, Illustration358 2000-02-19 8 Eddie Toh - From] Eddie Toh in Kuala Lumpur MAYBANK will continue to be the largest bank in Malaysia but it is not known at this stage whether it will succeed in taking over Pacific Bank, which is substantially owned by Singapore's358 words
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Article, Illustration346 2000-02-19 8 JAKARTA Bloomberg WORLD Bank president James Wolfensohn said Indonesia's economic recovery is underway although the government needs to do more to restore investor confidence and accelerate economic growth. "There has been some turnaround in the economy," Mr Wolfensohn told reportersBloomberg; REUTERS - 346 words
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389 2000-02-19 8 KUALA LUMPUR They're 31% up on booming exports, domestic demand Reuters MALAYSIA'S manufacturing sales growth in December maintained strong recent form, soaring by 30.7 per cent when compared to the same month a year earlier, on booming exports and resurgent domestic demand. The StatisticsReuters - 389 words
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MARKET moves
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Article46 2000-02-19 8 NALURI Bhd, the parent of national carrier Malaysian Airline System Berhad (MAS), continued to rise on expectations of a resolution to its debt woes by the national debt arbitration panel. The counter rose 15 sen to 1.87 Malaysian ringgit in heavy volume.46 words
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Article93 2000-02-19 8 MALAYSIAN Pacific Industries chalked up RM2 to RM50.25 on news that parent Hong Leong Industries has placed out a 2.47 per cent block in the semiconductor maker at a hefty price of RM46 apiece. The proceeds of RM23O million (Sslo3 million) will be used93 words
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44 2000-02-19 8 UNIPHONE Telecommunications Bhd, a small player in the Malaysian telco industry, continued to benefit from the market frenzy associated with telcoe and tech-based stocks. The counter rose 54 sen to RM4.64 although it has not announced any major deal.44 words
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Article35 2000-02-19 8 Eddie Toh - TTnM|illnl ty Eddie Toh WHILE investors continued to snap up technologybased and telco stocks, they have been neglecting national utility Tenaga Nasional Bhd. The counter shed 30 sen to RM12.40 in thin volume.35 words
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Article, Illustration169 2000-02-19 9 AFX-Asia [HONGKONG] The Virgin Group is looking to form a strategic alliance in Hongkong's telecommunications sector to try and penetrate the mobile Internet market, the South China Morning Post said, quoting Andrew Craissati, the chairman and chief executive of Virgin Management, Virgin's Asian investmentAFX-Asia - 169 words
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204 2000-02-19 9 ■HONGKONG Bloomberg THE two brothers of Cheung Wah Development Co chairman Lawrence Yu sold almost all their shares in the unprofitable garment maker for HKJI.73 billion (5|379 million), less than a month after Softbank Corp said it will buy controlBloomberg - 204 words
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453 2000-02-19 9 c&wi:i:^irrr;i HONGKONG Index changes will lead to fond inflows, no matter who wine Morgan Stanley Reuters, Bloomberg THE battle for control of Cable Wireless HKT could eventually result in easier monetary conditions in Hongkong no matter which suitor triumphs, according to USReuters,; Bloomberg - 453 words
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Article, Illustration362 2000-02-19 9 BEIJING Reuters CHINA'S dazzling export growth in January heralds a better trade picture for the whole year and will underpin the yuan, analysts said yesterday. January exports jumped 47.8 per cent year on year to US$l6.B billion (5528.6 billion) while imports rose even faster, surgingReuters; FILE PHOTO - 362 words
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132 2000-02-19 9 TAIPEI AFP THE Taiwan Stock Exchange and the US-based technologyheavy Nasdaq index are considering a cross-listing arrangement after Taiwan joins the World Trade Organization (WTO), which is expected later this year. "The US Nasdaq is considering setting up a cross-listing system with Taiwan StockAFP - 132 words
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Advertisement451 2000-02-19 8 j|\p iftIIOITIPCC T*\ll 1 C Y° u can make a killing right here, right now. For just $22.10 per month, you get a full year's subscription to i- UK' mL iiillvO pill IS The Business Times (usual $265) and 26 issues of Forbes Global ($273 newsstand price). That's right, you451 words
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Advertisement72 2000-02-19 9 to be delivered by Nobel Laureate Douglas D. Osheroff Winner of the 1996 Nobel Prize In Physics Stanford University, USA The Discovery Through The Eyes Of A Student: Superfluidity in 3 He Venue: Singapore Marriott Hotel, Marriott Grand Ballroom, Level 3 Date: 21 February 2000 (Monday) Time: 7.30 p.m. Free72 words
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Advertisement39 2000-02-19 9 ■Name: lAddress: I -jy. ■Email: Ifineu Basah Road (no posting please) by March 26, lattsL Ikss Times on April I. Prises an not transferable or exchangeable for cash, is open to all except staff and relatives of the organisers.39 words
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Advertisement139 2000-02-19 10 Delivering global wafer fabrication We Bring Business Together solutions in the Millennium. The SingaTrust Engineering Services Group 9 an industry leader in lithography, surface preparation, test metrology, facilities hook-up, quality and reliability analysis solutions, congratulates Chartered Semiconductor Manufacturing Ltd on the Groundbreaking of Fab 7on the 18th of February WOO.139 words
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WORLD news
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Article, Illustration1395 2000-02-19 11 QBESHSBMSSmSSSm The following are extracts of Federal Reserve chairman Alan Greenspan's question-and-answer session after his semi-annual economic report to Congress on Feb 17. Qs Does the Fed have views on expanding visas for high-tech employees, and does that have an effect onREUTERS - 1,395 words
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540 2000-02-19 11 While the Dow is down 4% since Jnne 30 when Fed started raising rates -Nasdaq is np 09% NYT WHEN Alan Greenspan speaks, the old economy trembles. But the new one thinks it is impervious to higher interest rates, and shrugs off warningsNYT - 540 words
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Article, Illustration533 2000-02-19 12 SYDNEY Price higher than Assoom offered by SIA, Kiwi carrier's previous suitor AFP RUPERT Murdoch's News Corp yesterday has agreed to sell the company's 50 per cent share in Ansett Holdings Ltd to Air New Zealand but at a substantialAFP - 533 words
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361 2000-02-19 12 SAN FRANCISCO But spokesman dflllifM chairman made the concession Bloomberg MICROSOFT Corp would be willing to open the source code for its Windows software to competitors if that was all it would take to settle the anti-trust case filed by theBloomberg - 361 words
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330 2000-02-19 12 TOKYO Reuters ECONOMIC Planning Minister Taichi Sakaiya handed the Japanese economy more bad news yesterday, saying it might not hit even the government's modest growth target for this fiscal year. The government insists that years of mammoth deficit spending will giveReuters - 330 words
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470 2000-02-19 13 BASEL Private banking head replaced; move comes a-mid talk of takeover Reuters SWISS banking group ÜBS AG yesterday sacrificed the head of its sluggish private banking operations as part of a major overhaul announced amid persistent talk that it is a target for aReuters - 470 words
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346 2000-02-19 13 WASHINGTON Trade deficit up 65% to USs27lb with dearer oil, imports Bloomberg, Reuters US consumer prices rose less than expected in January as the biggest drop in clothing costs in 11 years held down rising costs for gasoline, heating oilBloomberg,; Reuters - 346 words
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316 2000-02-19 13 FRANKFURT FT THE European Central Bank's chief economist, Otmar Issing, hinted yesterday that the ECB might soon make another increase in interest rates, saying inflationary pressures were on the rise in the euro-zone. "For the euro area, this year and nextFT - 316 words
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WORLD Watch
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74 2000-02-19 13 Bloomberg I ATLANTA] Coca-Cola Co, the world's largest soft-drink maker, named Douglas Daft chairman and chief executive after Douglas Ivester moved up his {dans to retire. Mr Daft, 56, in December was named successor to the 52-year-old Mr Ivester, who originally planned to stepBloomberg - 74 words
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Article, Illustration119 2000-02-19 13 Bloomberg [NEW YORK] Aeroflex Inc. a maker of communications equipment, is moving its shares to the Nasdaq Stock Market, becoming the first company to quit the New York Stock Exchange since the Big Board eased a rule last year. Aeroflex said it's making the move, setBloomberg - 119 words
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Article111 2000-02-19 13 Reuters [MUNICH] The Quandt flamily, controlling shareholders of BMW AG, denied a rumour yesterday that Ford Motor Co had made them an offer for their 48 per cent stake in the luxury car maker. The Munich-based groin's shares, which had shot up 13 perReuters - 111 words
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Article77 2000-02-19 13 AFP [HONGKONG] Gold demand in 1999 roae by more than a fifth to reach a new record due to strong growth demand in India, Pakistan and the US. the World Gold Council said yesterday. In the 27 markets, monitored by the council, demand roseAFP - 77 words
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Page 11 Advertisements
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Advertisement132 2000-02-19 11 lONICS EMS, INC. (Incorporated in the Republic of the Philippines on 21 September 1999) Invitation in respect of 156,000,000 Shares comprising 94,000,000 New Shares and 62,000,000 Vendor Shares at $0.60 for each Share Application for the Shares may be made on printed Application Forms referred to in the Prospectus dated132 words
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Advertisement84 2000-02-19 11 «rj| -v> r ,f >: V The first bank to introduce Internet Banking in Singapore noui lets gou applg for IPOs with a click of a mouse. Apply for lonics noui. I 1 >i————JP J "A." v j ''■-<%* i v ;•X; V Now applying for new shares from Singapore's84 words
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Advertisement53 2000-02-19 12 jPP- M B? Mi m I 1 1 S|r. More people are reading. According to an independent survey, readership of Singapore's daily newspapers increased in 1999 over the previous year. By 5% in total readership for the English and Chinese dailies, and 6.8 for the Malay daily. Pr< Source AC53 words
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Advertisement52 2000-02-19 13 m 1 mm'- i **t' i j*gg& 1 ws* v V > More people are reading. m s* pore w WV Holdings ous year. By sin tot.il readership for the English and Chinese dailies, and 6.8% for the Malay daily. Proving that Singaporeans still rely on their newspapers. Now more52 words
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FINANCE & commodities
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227 2000-02-19 14 Daphne Tay - SGX Derivatives TnAtngßeports MSd Singapore Index Daphne Tay Jardine Fleming THE Singapore stock market was bludgeoned yesterday with losses seen in all the market sub-indices. In his testimony to the House Banking Committee, Federal Reserve chairman Alan Greenspan remarked that US interest rates227 words
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178 2000-02-19 14 Matthew Den Bleyker - MSCI Taiwan fixtures Matthew Den Bleyker Refco Singapore THE Taiwan Stock Exchange Weighted Price Index fell 105.82 or one per cent to 10,096.38 as investors took profits on large capitalisation shares. SGX MSCI Taiwan Index futures dropped 8.6 points or 1.89 per cent to178 words
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Article280 2000-02-19 14 ENERGY REPORT Reuters [LONDON] World crude oil prices lost a little ground yesterday amid growing prospects of an increase in supplies from mjyor producing nations in the second quarter. North Sea marker Brent Blend futures for April slipped 14 US cents by 1200 GMTReuters - 280 words
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Article326 2000-02-19 14 Bloomberg, Reuters London THE US dollar held near fivemonth highs against the yen and maintained its downward pressure on the euro yesterday as the market remained confident the Federal Reserve will engineer a soft landing for the US economy. US Fed chairman Alan Greenspan said on Thursday inBloomberg,; Reuters - 326 words
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Article, Illustration1147 2000-02-19 14 M-anes M*jnte>iyT Short 1 -3y«s,lono >3yre immBAH CROSS RATBS Feb 18 C$ »■> E« Fir D« HQ m»NHH Yw Ww m |g$Ntt» N» SS —4 Sir MT< fm4 US$ Austral)* 0.918 6.178 0.641 4204 1254 4.925 27.606 47.083 a701 7.V48 2.405 L284 32.816 25.743 1079 3.998 1028 19.443 24.057 0J941,147 words
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Article1779 2000-02-19 14 atcQiiroTOMS Fe6l8 RUBBER (futures closing «it SJOp*) RSS1 CONTRACTS cmtsAg) Close Volume Open Montl> Low Sit (tonnes) Interest Mar 00 127.50 200 p 00 J32.00 100 MavO? 134.50 400 Jun 00 137.00 400 RSS 3 CONTRACT (US cmts/kq) Volume Odm Mantl1 If" Sett (tows) Interest £25 76.25 77.25 200 19751,779 words
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STOCKS east asia
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Article, Illustration2612 2000-02-19 15 HONGKONG Reuters Q Hang Seng -***** HONGKONG blue chips ended yesterday lower as concern over further US rate hikes hit banks and developers, while small-cap technology and China-related plays rose on Nasdaq's rally and local IPO anticipation. The blue chip Hang SengReuters - 2,612 words
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Article1877 2000-02-19 15 TOKYO AFP QnUuriXß -137 SHARE prices in Tokyo edged down yesterday as investors sold stock to lock away profits in late trade, brokers said. The Tokyo Stock Exchange's Nikkei 225 Index fell 2.37 points to end at 19,789.03. But the Topix Index of all issues onAFP - 1,877 words
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Article, Illustration950 2000-02-19 15 Reuters, AFX-Asia {Hj Shenzhenß Index +LBB SHENZHEN'S B shares reversed direction to end solidly higher yesterday due to a surge in H shares, those of Chinese companies listed on the neighbouring Hongkong stock market, brokers said. Shenzhen's hard currency B Share Index ended up 1.68 points, or 1.91 perReuters,; AFX-Asia; Source: Credit Lyonnsis Securities(Asia) Ltd - 950 words
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Article354 2000-02-19 15 AFP QWP Index -10GLB2 TAIWANESE share prices fell one per cent yesterday as profit-taking eroded earlier gains, dealers said. The stock market opened up 1.9 per cent after hitting a 10-year high in the previous session, but profit-taking soon emerged to push the index into negative territory. The TaiwanAFP - 354 words
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Advertisement9 2000-02-19 15 k jflMll Business Tools Just imagine life without them.9 words
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STOCKS klse
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Article8556 2000-02-19 16 Transaction date: Feb 18 INDUSTRIALS Cwmr predicts *000 Last Vol Day N«< Cap HH» C— »—n Y M 'OOP High Ut_ P/I Smll 402 310 AJtnomoto 398 -2 8 396 374 252 ML3 BO 91 Anqkasa 121 1 242 124 tt6 178.4 444 JJO Apodo Food Hlg 422 -6 238,556 words
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Article, Illustration383 2000-02-19 16 AFP PJ Composite Index +G. 46 MALAYSIAN shares closed 0.6 per cent higher yesterday led by Investors' interest in top bank Malayan Banking Bhd and telecommunications company Time Engineering Bhd, dealers said. The Kuala Lumpur Stock Exchange Composite Index ended up 6.45AFP - 383 words
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Advertisement24 2000-02-19 16 A master of cooking. L Or one who just knows his carats. i Get the expert. jM Call I 800 74 I I 88324 words
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SGX clob & regional stocks
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Article3455 2000-02-19 17 BOWPS A WARRAMTS •t Mi fnml bptn U M Last M Bay LailOaili ><i turn* Um Urn Mac HUM ■0 Us Mm rill) l| Stfa «ar- r«MI Lot hp Mkr Mm MhlMk Maa III I |T UN 104 io* r~3160 «Af«f mnin7iiii<< a* inch 97 415 43 43 44 1563,455 words
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Article277 2000-02-19 17 AFP □Compositelndex -18-38 THE Composite Index closed down 18.38 points at 879.14. Falls outnumbered rises 501 to 341, with 53 shares unchanged. —AFP H»H *h tmmStni WOO -600 Brain Ted) -tS90 60 Central Bank 2990 100 CheMCanwi *****0 HOOO Da* Gu Bank 2670 20 DaetanqCarp 3KX> -UO Daewoo CarpAFP - 277 words
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Article287 2000-02-19 17 AFP PI Composite Index +14.57 THE scandal-wracked Philippine Stock Exchange rose 0.8 per cent yesterday on a technical rebound, analysts said. The main Composite Index climbed 14.57 points to end at 1,884.28. Volume thinned to 6.26 billion shares worth 1.7 billion pesos. »ta *h (OOP) Abacus Construction 1.10 0.04AFP - 287 words
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Article278 2000-02-19 17 AFP □IgSE-40 43M NEW Zealand's share market yesterday shed 3 per cent of its value but portfolio selling rather than a change in fundamentals was seen as the cause. The NZSE-40 Index fell 63.86 points to 2,031.22 on large turnover of NZ$l39 million.— AFP row ■> *f- mn AdvantageAFP - 278 words
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Article540 2000-02-19 17 AFP QUMteriM_44B BIG falls in four of the country's leading stocks pushed Australian share prices 0.8 per cent lower yesterday. The Australian Stock Exchange's key All Ordinaries Index fell 24.8 points to 3,120.1. Turnover totalled 1.25 million shares worth A 51.83 billion with 815 fallers outnumbering 755 risers. TheAFP - 540 words
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Article, Illustration749 2000-02-19 17 AFP Hsgr latex *2M THAI share prices closed higher due to investor interest in telecommunications, sparked by confirmation that Shin Corp had signed a share swap agreement with Samart Corp, dealers said. The Stock Exchange of Thailand (SET) index closed up 2.54 points to 408.35, while the benchmark SETAFP - 749 words
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Article, Illustration659 2000-02-19 17 AFP Composite Index -OJO INDONESIAN share prices closed mixed in volatile trade yesterday with an exit of foreigners out of the market helping drive the index below the 600 mark, dealers said. The Jakarta Stock Exchange composite index closed down 0.60 points or 0.1 per cent at 599.57, offAFP - 659 words
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Advertisement13 2000-02-19 17 ide as are served in... every Monday in The New Paper restarts. f*k>t*HJs13 words
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Article8491 2000-02-19 18 SOX MAINBOABP Transaction date: Feb 18 Gr Or M Wt laat Vel Day Last Ouot* Div ON YM MM Cm Avg U» HO Ciwpmi Sale rooot MH> Low Bayer 8a8or CNr P/t $jil Price MULTHNOUSTRY tea 69 mc 1000 Acma 50c 150 *11 7033 156 140 150 1518,491 words
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Page 19 Advertisements
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Advertisement335 2000-02-19 19 Where to wine, dine and entertain...""t 1 ——i^——b^—i^———___________ depend on predictions. Advertise in Wine, Dine Entertain Jm* of The Business Times and reach out 117,000 readers daily. -a I flßp y& Contact Patrick Ang at 740 1284, pjl Amy Choo at 740 1559, or Shirley Lee at 740 2290 now.335 words
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Advertisement27 2000-02-19 19 i a j «10 TO 20 FEBRUARY 2000 RESERVATIONS (•lllinai 831-6258/88 -SI I »..*..|l|%v»>J iuiTV! Orrtwrd Raid. Stnuporc 2 )«867 1 W: 7\7 4411 Fn: 7)2 2)6127 words
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Page 19 Miscellaneous
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Miscellaneous773 2000-02-19 19 Tvr:*g=T3tEl— Central ding Bell Blues. 730 Sejarah Dunia. 1130 News World. N~ut^~mm. a M am Kirie fpnfrai' Thu News 5 Tonight. 8.00 Berita. 11,30 Wine Dine \AL> I Teletubbies 1000 Femme Nikita: Last 830 Filem Sensasi: Sembilu 12.00 MN Headline News. MM 830 Tweenies: Band. 1,00 saturdav r Niaht in773 words
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Miscellaneous313 2000-02-19 19 CRYPTIC CROSSWORD ACROSS (7) 1 Sundry charges on parts of the A number after a new hip flask amusements (10) 5 6 Heroic record set by Olympic fi- 8 Remunerate ace postmen pernalists (4) haps (10) 10 Lash out, take in a foreign capital Select a different reel for game313 words
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The Arts
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Article, Illustration1355 2000-02-19 20 CORINNE KERK - For the wealthy clients of ÜBS, there is added interest for their money an art banking facility for the serious collector, corimhe reports CORINNE KERK WHAT does a Swiss banking giant and an art collector have to do with each other? Business. For the serious1,355 words
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Article, Illustration1470 2000-02-19 21 PARVATHI NAYAR - parvathx N&7AB attends a lecture on conceptual art at the Singapore Art Museum and shares some ideas on what constitutes conceptual art PARVATHI NAYAR HO'S Afraid Contemporary H| Art?" a lecture m series organised by the Singapore Art Museum (SAM), the Department W Art Theory and1,470 words
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Article, Illustration773 2000-02-19 21 fPBOFLE AP (NEW YORK] Some people call Nigel Kennedy a punk violinist. (Maybe it's the haircut.) But he plays classical music most of the time. "I'm playing gigs all the time, basically. I'm a travelling violinist," said Kennedy, 43, an English violin prodigy who studied at theAP; FILE PHOTO - 773 words
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530 2000-02-19 21 Felicia Yap - EXHIBITION By] Felicia Yap IF you have yet to see works by Renoir, Chagall and Picasso which never have been exhibited in the East before at the Singapore Art Museum, then a visit to "Unmasking Vollard" should be on your weekend agenda. "Even530 words
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THE PROGRAMME
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Article312 2000-02-19 22 Singapore Symphony Orchestra Beethoven Symphony Cycle Conductor Emeritus Choo Hoey conducts the early Symphony in E-flat, a tuneful work reminiscent of his teacher Rimsky-Korsakov's exuberant and colourful music. The Beethoven Symphony Cycle continues with the sublime and under-played Fourth Symphony. A grand master of Spanish pianism, Joaquin Achucarro brings312 words
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Article, Illustration129 2000-02-19 22 Shakespeare en Love A post-Valentine's day tribute to love, The Stage Club weaves together excerpts from some of the Bard's best known plays with poetry and song to create an enchanting piece that will appeal to lovers of all ages. Feb 23 to Feb 26, Bpm at Jubilee Hall.129 words
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Article586 2000-02-19 22 Rrfa- BFnumin Chinese Painting from the Yeo Khee Lim Collection (Part 1) Featuring 20 outstanding Chinese Paintings from the Ming and Qing period from the late Yeo Khee Lim's collection. Until Dec2ooo. Chinese Snuff Bottles More than 200 rare pieces from the Qing dynasty. Highlights include bottles made of586 words
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Article, Illustration285 2000-02-19 22 On display are 30 paintings of teddy bears, revealing the innocent charm that has attracted many for centuries. They serve not only as toys for the adolescents but also as companions for everyone. Until Feb 20, Artfolio Space, Ruffles Hotel Arcade #02-25,328N0rth Bridge Road. Daily: Ham to 7.30pm. Tine285 words
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Article, Illustration187 2000-02-19 22 Felicia Yap - By] Felicia Yap like Their tuxedos smell of mothball these guys just don't want to be different from their audiences by wearing them. Flo* and pUjera Expect an eclectic explosion with some lively ensemble grace when the Los Angeles Guitar Quartet (LAGQ) comes to the DBS Auditorium stage with187 words
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Article133 2000-02-19 22 M Yasotha/ Parvathi Nayar - Compiled by. M Yasotha/ Parvathi Nayar LsfsGroovtl Drum clinic on contemporary jazz, tank and fusion drumming by Blair Sherrill from the USA. Topics includes understaning and creating rhythm patterns, maintaining grooves and soloing techniques. Feb 24, 7pm to 8.30pm at The Programme Zone, Library@Qrchard, Ngee Ann City. Admission is133 words
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Article, Illustration555 2000-02-19 23 Felicia Yap - DANCE REVIEW Tammy L Wong's fledgling dance company prove their mettle with energy and enthusiasm Felicia Yap THE opening of Remembering Jesus was rather arresting—a figure sitting on a swing captured in a flash of blue light. With dancers clad in androgynous white pants and tops, theFILE PHOTO - 555 words
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Article, Illustration614 2000-02-19 23 Susan Tsang - COMEDY REVIEW Up-to-the-minute gap and witty lines have audience rolling in stitches By Susan Tsang GETTING down to the performance of Maybe Knot was a knotty problem, what with the police blocking off all known routes to the Victoria Theatre because of the614 words
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500 2000-02-19 23 Reuters [LONDON] London's Royal Court Theatre, renowned around the world as the fount of ground-breaking new plays, is coming home with a sparkling new facelift. Four years and £26 million (5171.1 million) later, the most revolutionary stage in Britain is back inReuters - 500 words
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Article, Illustration562 2000-02-19 23 Felicia Yap - By Felicia Yap PUT together a bunch of the whackiest, looniest and funniest people on the planet and what do you get? A bunch of comedians. Well, brace yourself for some fun and mayhem when the Singapore International Comedy Festival 2000 rolls into town next month.562 words
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Article, Illustration704 2000-02-19 24 SUSAN TSANG - The Asian Civilisations Museum takes visitors to the world of Chinese opera susak tsamg details the elements that help in the story-telling SUSAN TSANG CHINESE opera has something of an image problem here, being seen as an outmoded form of entertainment that took704 words
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Advertisement125 2000-02-19 20 If you appreciate the finer things life, you'll love the OCBC Arts Card* because it helps to support the local arts scene. Every time you use the card, we pledge a percentage of the amount to help musicians, painters, actors and dancers in Singapore stand on their feet. In return,125 words
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Advertisement56 2000-02-19 22 The Average Size and Performance of a PruLink Fund. K,*» WWS EL* -nfcj PruLink Singapore Managed Fund 'iP |gjpr>fl the largest unitised fund in Singapore. An unbeatable record with over $730 million Sb E'Hk invested by 90,000 people since its launch in 1992. PruLink INVESTMENTS Probably the best managed funds56 words
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Advertisement57 2000-02-19 24 K —BHWMWBBI—W^ P'PK;- K I Win BMWs* class every $100 on V f l now to September balance transfers to P American Express lucky to have /f any of the first still fully for the grand wt//h I JjjJjßi <jftTt»ka»i»j C&T are a To us via www.dbscc.com.sg 1800-835 "Cars include57 words
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