The Business Times, 26 February 2000
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2000-02-26
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The Business Times
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Title Section15 2000-02-26 1 THE BUSINESS TIMES MITA (P) 035/12/1999 85* SINGAPORE Internet: http://bu£iness-times.asial .com.sg/ SATURDAY, FEBRUARY 26, 200015 words
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Article67 2000-02-26 1 sn 2440.40 (+16.73) BT-SU 78L1( (+9.23) flsoDanmntES U mat (+2.00) STOCK MARKET INDICES Friday Change KLSE COUP 1,1016? -6.91 NIKKEI 19JB17J88 >246.44 HANG SENG I7J*J8_+142J2 SET INDEX ***** ♦1U« JAKARTA COMP 568.56 -4 J3 MANILA OO.MP doaed TAIPEI WPI 9,432.49 ***** SEOUL COMP 864.76 -161 CLSA CHINA B67 words
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Article76 2000-02-26 1 FOREX RATES USS 1.709 £(L'S$/SS peri) 1.596 1728 El'RO(VSS/SS/E) 0988 1.689 DM 1979 0.864 YEN 1105 1542 RM 3.800 0 450 HKS 7.783 0120 BAHT 17 99 0.045 R1T1AH HAS. Aim* SJ to 100 units PRIME SATES SINGAPORE* 5.80 KUALA LUMPUR 7.67 JAKARTA ,19.00 BANGKOK .9.50 MANILA 1100 HONGKONG76 words
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Article787 2000-02-26 1 Conrad Raj - Weary investors given choice of two schemes to unlock their shares By Conrad Raj [SINGAPORE] After nearly one-and-a-half years of at times bitter wrangling, the stock exchanges of Singapore and Malaysia have resolved the 20 billion ringgit issue of frozen Malaysian shares formerly traded787 words
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438 2000-02-26 1 Catherine Ong - pn^xclusive They subscribe for HKsl3.6m worth of QyberWorks shares By Catherine Ong IN the multi-billion dollar battle for control of Cable Wireless HKT, Hongkong share investors aren't the only ones betting that Pacific Century CyberWorks will triumph over Singapore Telecom.438 words
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751 2000-02-26 1 Vikram Khanna - COMMENTARY By Vikram Khanna SOME years from now, Singapore might well become the home base for companies that are renowned not just for exporting to the world electronic goods and other hardware, but also healthcare, education, engineering, logistics, infotainment and a whole range751 words
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Advertisement97 2000-02-26 1 dtstoe Top stories OCBC Bank's 1999 profit up 44.5% to $690 m. Mmxt Page Philips Electronics Singapore to retrench 500 employees. Pg 12 M'sian Budget: Govt raises 2000 growth forecast to 5.8%. Pg 14 Cabinet MT ——1 member JQ« Michio I J| Ochi Bap j quit ■FShgM yesterday, dealing another97 words
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Advertisement16 2000-02-26 1 CyberWarlu to announce HKT bid on Mon, Next Pg IhRL Mm*. MgsmmMt- The Arts. Back Page16 words
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Advertisement69 2000-02-26 1 j More reports Withdrawal of 10% tax rebate tops list of disappointments, Pg 3 Services sector needs to compete, says Dr Hu, Pg 4 Dr Hu keeps technopreneurs waiting on stock option measures, Pg 6 New retirement scheme unveiled, Pg« Budget surplus: Ahead by $2.5 billion, Pg 7 BT online69 words
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ON THE grapevine
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131 2000-02-26 2 ONE customer recently was targeted by a banking executive for his bank's priority banking product. In exchange for $160,000 of funds, the customer would get free parking in the bank's carpark and the waiving of annual rent for the use of a safe131 words
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Article230 2000-02-26 2 A GREAT way for a Taiwanese presidential candidate to get a big cheer from the crowd is to hoist a huge white daikon radish over his head. But if the long root vegetable isn't handy, a big pineapple will do, reported AP. It's all part of230 words
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Article113 2000-02-26 2 SALOMON Smith Barney has announced the appointment of Ram Venkateswaran as a vice-president in its Internet/technology investment banking group, based in Singapore. Mr Venkateswaran is a Gold Medallist from the Indian Institute of Management, Calcutta, and received his MBA in 1991. He graduated with a Master's113 words
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Article, Illustration549 2000-02-26 2 THE Kuala Lumpur Stock Exchange (KLSE) and the Singapore Exchange Limited (SGX) have reached a comprehensive solution to the Clob issue. Two agreements were signed on Feb 25,2000. Agreement between KLSE and SOX 1. KLSE and SGX signed an agreement toFILE PHOTO - 549 words
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Article, Illustration323 2000-02-26 2 Catherine Ong - Observers say move suggests it has clinched all or part of 54% stake in HKT By Catherine Ong [SINGAPORE] Trading in the shares of Pacific Century Cyberworks in Hongkong and Pacific Century Regional Development (PCRD) in Singapore was suspended yesterday pending an announcementSource: Bloomberg - 323 words
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677 2000-02-26 2 Siow Li Sen - Gronp's results for 1999 beat consensus estimates by 7% By\ Siow Li Sen [SINGAPORE] OCBC Bank yesterday said its net profit in 1999 rose 44.5 per cent to $690 million on the back of strong core banking operations, lower provisions and higher earnings677 words
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451 2000-02-26 2 Conrad Raj - Most observers say odds are that candidate will be an American By I Conrad Raj [SINGAPORE] The Singapore Exchange (SGX) has finally found its chief executive after an exhaustive worldwide year-long search. "Yes, we have a candidate. An announcement451 words
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Advertisement25 2000-02-26 2 OCBC studies revamp of non-core assets, Pg 8 Or one who just knows his carats. k jflKjypiuL rk? m TTieStiuitsTimes Call I 800 741 188325 words
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Advertisement10 2000-02-26 2 SOX off on road shows to attract morefirms, Pg 910 words
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Article, Illustration683 2000-02-26 3 Audrey Tan - what it means for businesses financial services Some respite as corporate tax is cat to 25J>% from 26%, but property tax rebate also reduced from 55% to 25% Reports by, Audrey Tan BUSINESSMEN hoping for another year of fiscal help fromARTHUR LEE - 683 words
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197 2000-02-26 3 THE property tax rebate for commercial and industrial properties will be extended for another year, up to June 2001, but at a lower 25 per cent instead of the current 55 per cent rebate. Dr Hu said that the extension is due to the197 words
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Article, Illustration546 2000-02-26 3 Wong Wei Kong - Reports by' Wong Wei Kong THE move to introduce further stamp duty relief for corporate restructurings and mergers and to lift the moratorium on shareholding changes after a restructure or merger is seen as an anticipatory move ahead of more Singapore companies re-invent-ing themselvesFILE PHOTO - 546 words
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381 2000-02-26 3 Ven Sreenivasan - Bnt they'd have been happier with GST on fees done away with By Ven Sreenivasan THE government's plan to abolish stamp duty for share transactions from the middle of this year was predictably welcomed by the stockbroking industry. However, industry players said yesterday that381 words
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442 2000-02-26 3 Concession to kick in next year and ran until Feb 2003 FINANCE Minister Richard Hu yesterday announced the extension of tax concessions for bond trading to swap trading, a move which market players said makes the promotion of debt442 words
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Article, Illustration463 2000-02-26 4 Andrea Tan - Byi Andrea Tan THE services industry is lagging behind and it is time to introduce greater foreign competition, Finance Minister Richard Hu said yesterday. "Singapore as an economy cannot hope to be globally competitive if our services sector is a laggard atFILE PHOTO - 463 words
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Article, Illustration1522 2000-02-26 4 Anna Teo - Surplus should have been channelled to industry and skills upgrading, they say Byi Anna Teo WITH the economy largely out of the woods, Finance Minister Richard Hu yesterday gave away precious little to businesses in what was widely seen as a disappointingly conservative Budget.ARTHUR LEE - 1,522 words
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Advertisement914 2000-02-26 5 MTTA (p) 036A2/18W ADVERTISEMENT ■■■II■H■III■ 1 I I fU H 1 1 H■■jl■ I I w H H H H H H H I■l 1 I SINGAPORE vl-\--'->\'j. -"A- y'XL*.?• i r! S **ys-nl'£* r '<* r fj Double your investment. he Buy into The Business Li. Joy Water. Chris914 words
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Article, Illustration766 2000-02-26 6 Jennifer Lien - What it means for entrepreneurs Enhanced tax scheme for share options to be announced by end-May By, Jennifer Lien TAX employee stock options at the point of sale of the shares, not when they are exercised. This will remain aFILE PHOTO - 766 words
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Article, Illustration512 2000-02-26 6 Marissa Chew - By\ Marissa Chew TO encourage creativity and enterprise, the government yesterday fine-tuned its tax breaks for artists, inventors and entrepreneurs. A wider definition of income will be used for artists and inventors, when the taxman assesses them for income tax concessions on their512 words
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Article, Illustration1007 2000-02-26 6 Teh Hooi Ling - What it means for individuals Govt will also give out special CPP top-up of $250 to all S'porean members By 1 Teh Hooi Ling CONCERNED that the population is ageing and not saving enough for their retirement, Finance Minister Richard Hu yesterday introduced a supplementary retirement1,007 words
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Article, Illustration885 2000-02-26 7 Eugene Low - By Eugene Low Singapore's Budget deficit failed to materialise, and a surplus of $2.5 billion, or 1.5 per cent of gross domestic product, has been estimated .for the next fiscal year beginning in April. The government had estimated a $5.1 billion deficit for the current fiscalJEN CHUA - 885 words
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SINGAPORE companies
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Article, Illustration644 2000-02-26 8 Siow Li Sen - Local banks still discussing issue with MAS, says chief exec By I Siow Li Sen OCBC Bank is looking into restructuring its non-core assets, as part of its capital management strategy, and is having a dialogue with the regulator on the issue. Alex Au,ARTHUR LEE - 644 words
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806 2000-02-26 8 r sivanithy - Market volatility —unfair to put blame on house traders H lock siew r sivanithy ONE of the significant consequences of deregulating the local stock market has been a marked increase in house or proprietary trading. Dealers and remisiers, mindful of the possibility that their revenues might be hurt by falling806 words
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Article, Illustration541 2000-02-26 8 Carol Eng - It does not role out using sale proceeds for share buyback Byi Carol Eng PARKWAY Holdings has for the first time set a return-on-equity target, and a key management member yesterday said the company was striving hard to achieve it bySource: Bloomberg - 541 words
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Article, Illustration426 2000-02-26 9 Conrad Raj - Team heads for Philippines next month, rest of region later; lonics makes debut By Conrad Raj THE Singapore Exchange (SGX) is going on road shows in the region to attract more companies like Filipino electronics manufacturer lonics EMS to list onCHUA CHIN HON/ST - 426 words
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Article336 2000-02-26 9 Eugene Low - By: Eugene Low TRANSMARCO yesterday reported a $8.8 million loss for the eight months to November last year. The group posted sales of $68.8 million. Of this, its information technology and footwear businesses contributed 68.8 per cent and 12.7 per cent respectively. Transmarco, which is issuing336 words
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493 2000-02-26 11 Toh Han Shih - Chairman says group hopes to be global e-commerce holding company By' Toh Han Shih SINGAPORE Internet company SilkRoute Group is aiming high it hopes to be among Singapore's top 10 companies by market capitalisation by 2003, chairman Wong Toon King493 words
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351 2000-02-26 11 Ven Sreenivasan - Shares of m&inbo&rd company start trading on Monday By Ven Sreenivasan LINKS Island Holdings Ltd has allocated about a third of its public offer tranche shares to small investors. The company yesterday said that investors who applied for up to351 words
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146 2000-02-26 11 SINGAPORE Airlines Ltd (SIA) yesterday said it was still in talks with Virgin Atlantic over the possible investment in the British carrier's new Australian airline. "We are still in discussion with Virgin about their plans to launch a low-cost Australian airline," a146 words
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Article158 2000-02-26 11 SHARES of IPC Corp Ltd surged in heavy trading volume yesterday to lead a rally in technology shares after the Nasdaq market rose to a record high. The stock surged 4.5 cents or 12 per cent to close at 40 cents on a heavy volume158 words
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Article, Illustration359 2000-02-26 11 Eugene Low - By] Eugene Low FUELLED by the pick-up in oil demand on the back of the region's economic recovery, Singapore Petroleum Company (SPC) powered back into the black with a net profit of $15.3 million for the year ended Dec 31. Pre-tax profitFILE PHOTO - 359 words
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Article4359 2000-02-26 11 Net tern IM LKXl Awtpac Sop 23 P 1.997 4.786 O.SS 2.08 Bote TV LV TV LV UXln Stc 13 I 122# 1796 UO OJ1 C»w»my MM (9m) <9m> lets) (cts) LumCheng Sep 30 P 1.246 *.912 0J2 244 Lyng Km HK$ OK 03 I *****4,359 words
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Advertisement128 2000-02-26 8 AUSSINa LONDON NEW YORK PARIS AUSSINO.COM LTD (Incorporated in the Republic of Singapore on 22 January 1991) Initial Public Offering 4,800,000 Offer Shares 17,280,000 Placement Shares 1,920,000 Reserved Shares Issue Price: Sso.BB each > Launched 21 February 2000 at 10.00 a.m. Closing 28 February 2000 at 12.00 p.m. Copies of128 words
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Advertisement123 2000-02-26 9 This announcement appears as a matter of record only A LINKS ISLAND HOLDINGS LIMITED (Incorporated in the Republic of Singapore on 28 December 1990) INVITATION IN RESPECT OF 50,000,000 NEW ORDINARY SHARES OF $0.10 EACH AS FOLLOWS:(A) 15,000,000 OFFER SHARES AT $0.28 FOR EACH OFFER SHARE BY WAY OF PUBLIC123 words
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Advertisement1342 2000-02-26 9 JL SHC CAPITAL PTE LTD (Incorporated in the Republic of Singapore) UNCONDITIONAL CASH OFFER FOR HBM PRINT LTD ANNOUNCEMENT OF LEVEL OF ACCEPTANCES AS AT CLOSING DATE Overseas Union Bank Limited ("OUB") wishes to announce, on behalf of SHC Capital Re Ltd (the "Offeror"), that as at 3.30 p.m. on1,342 words
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SINGAPORE markets
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Article478 2000-02-26 10 Stock* Volume IPCCo»po5c 116,452,000 tonka P$1 00 58,029,000 Goldtron20c 28,040,000 Aztech 5c 16,151,000 MMI Hldgs 10c 13,421,000 IPC020C 12,250,000 GES Irrtt Ltd 20c 11.062,000 WngboardUSIOc 7,635,000 Fastech USlOc 7,236,000 Frt Links 20c 6.456.000 Stock* PacificCantury 55,890,115 IPCCofpn5c 45,302,720 GES Inti Lid 20c 37,632,550 TAC Bt***** 37,459,426 tonka P$1.00 35,794,210 DBSGrp478 words
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Article, Illustration560 2000-02-26 10 r. sivanithy - 1-1 i comment STOCKS r.sivanithy FOR the second consecutive day, the local market yesterday ended largely weaker, although a rebound in the banks and a handful of index stocks helped the Straits Times Index rise 16.73 points to 2,140.4. The soft showing, which560 words
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Article, Illustration356 2000-02-26 10 larry wee - I>il comment CURRENCIES larry wee THE US dollar fell back against most Asian units in profit-taking ahead of the weekend, but continued to test higher ground against the Australian dollar and euro. By the close of Asian trading yesterday, theSource: Reuters - 356 words
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Article, Illustration182 2000-02-26 10 R Sivanithy - WARRANT WATCH -By\ R Sivanithy WHEN Malaysian shares were previously traded here on Clob International, the name Metroplex used to crop up regularly in the daily volume or gainers lists. Most of the time, the interest was purely speculative but this didn't deter182 words
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Article, Illustration251 2000-02-26 10 Wong Wei Kong - HOT STOCK -By' Wong Wei Kong THE shares of electronics company IPC Corp dominated trading yesterday, finishing as the session's most active stock. The shares closed up 4.5 cents or 13 per cent at 40 cents. It opened at 36 cents and hit a day251 words
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Article135 2000-02-26 10 THE Singapore Exchange yesterday asked Ipco International to explain the sharp rise in its share price and trading volume. The infrastructure group rose 11.5 US cents or over 16 per cent on the stock market yesterday to close at 81 US cents. A total of 12 million units135 words
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Advertisement65 2000-02-26 10 SUB AND »""i t l bb i iu liTr]** I—**-i1—**-i S m l 447.500,000 Sba M |pQ shares. Bonds. ssi.9o p** sharc Stocks. Annual Reports. II M Whatever you're offering, 1 1 we help you reach out 1 l V to 86.7% of all adults M In Slnqapore dally. Ih65 words
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Advertisement22 2000-02-26 10 Looking for a forum to talk stocks? Chatiine is the place to be Find us at http //iol dcs com sg/ ©DBSBANK22 words
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SINGAPORE news
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420 2000-02-26 12 Francis Kan - S'pore to become Asia-Pac R&D centre as production moves to China By Francis Kan PHILIPS Electronics Singapore will be retrenching 500 of its employees as it relocates part of its production to other manufacturing centres, primarily in China. The move is in420 words
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Article, Illustration294 2000-02-26 12 Marissa Chew - Li Ka-shing-controlled Glenfield also buys adjacent plot for $55m-s6om By] Marissa Chew THE collective sale of Cairnhill Court has finally come to a close, with the prime 126,607 sq ft site going to a company controlled by Hongkong tycoon Li Hashing for $315 million,FILE PHOTO - 294 words
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358 2000-02-26 12 Wong Wei Kong - m exclusive Biggest ever auction by MAS beats expectations with applications worth $3.5b Wong Wei Kong THE biggest ever auction of Singapore government bonds by the Monetary Authority of Singapore (MAS) has gone down well with the market, with response to the358 words
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303 2000-02-26 12 Bloomberg SINGAPORE'S industrial output last month probably shrank month on month, bearing the brunt of a 25 per cent on-month fall in electronics exports for the month. Last month, factory output probably contracted 10.4 per cent month on month and gained 12.8 perBloomberg - 303 words
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147 2000-02-26 12 Bloomberg SINGAPORE aerospace industry's output is expected to triple to about $7 billion in the next decade as a govern-ment-subsidised programme will help local companies develop more products, a government official said. "Singapore is committed to growing the aerospace manufacturing cluster" of companies, said ChuaBloomberg - 147 words
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Article65 2000-02-26 12 IN yesterday's report, "S'pore aspires to be major world player in infocomms", we misquoted the Trade and Industry Ministry's permanent secretary Khaw Boon Wan as saying: "You cannot hold on forever to (manufacturing activities). Costs go up, and you have to let go." Mr Khaw was actually65 words
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Article275 2000-02-26 12 Denis Distant Singapore, via Internet - bag Denis Distant Singapore, via Internet WHETHER it is merely following herd instinct or a dream of appearing on the daily top active or top gainers lists, more and more companies listed in Singapore are splitting their shares, ostensibly to improve marketability. But it is275 words
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Advertisement11 2000-02-26 12 [TODAY©**^*#. Lianhc laobao little toys I |Cire f big business —USsBobillion11 words
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Advertisement137 2000-02-26 12 You can e-mail us at btletterQsph.com.sg or fax us at *****71, or mail your letter to The Business Times, Times House, 390 Kim Seng Road, Singapore *****5. Please give your full name, address and telephone number. i:ngt ——:lIM :VgJIII I I'l^—l^— Spring Wedding Collection 25 27 Feb Deol's Nite 27137 words
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Advertisement30 2000-02-26 12 The secret of success Taking the right course, of course. Study the wide range of courses available in the Education/Training Section in the Classified Classifications 700 to 799. fa CATS.30 words
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e News
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531 2000-02-26 13 WASHINGTON Scary scenario since these allow Windows-based PCs to be corrupted LAT-WP IN a potentially devastating discovery, government investigators said on Thursday that they had detected new computer hacking tools that allow Windows-based PCs to be corrupted and remotely launch attacks like thoseLAT-WP - 531 words
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Article, Illustration458 2000-02-26 13 By year-end all its new handsets will be able to access the Internet Reuters [HANOVER, Germany] Motorola said on Thursday that it would focus on bringing new Internet services to its customers and by year-end all its new handsets will be able toReuters; AP - 458 words
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e Briefs
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43 2000-02-26 13 Bloomberg [STOCKHOLM] Connects and Information Highway, two Swedish Internet consultants, have agreed to marge, forming Europe's No 4 Web services company in a stock swap worth at least 7.35 billion kronor (5f1.45 billion). BloombergBloomberg - 43 words
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Article30 2000-02-26 13 Bloomberg [SUNNYVALE, California] VA Linux Systems Inc said fiscal second quarter revenue rose more than sixfold to US$2O.2 million, on the Linux operating system's popularity.—BloombergBloomberg - 30 words
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31 2000-02-26 13 Reuters [NEW YORK) International Business Machines Corp and Germany's Deutsche Post AG yesterday unveiled a partnership to provide Internet and e-commerce services to small businesses.—ReutersReuters - 31 words
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Article35 2000-02-26 13 Bloomberg [MORRIS TOWNSHIP, New Jersey] Honeywell International Inc said Microsoft Corp made an unspecified equity investment in its MyPlant.com Web site as part of an alliance to boost the site. BloombergBloomberg - 35 words
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Article41 2000-02-26 13 Bloomberg [WAYNE, Pennsylvania) Internet Capital Group Inc (ICG) agreed to make its largest investment, buying a stake in online financing broker eCredit.com for US$45O million (*****.9 million) to stock as it pushes Into financial services. BloombergBloomberg - 41 words
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Article37 2000-02-26 13 Bloomberg [WASHINGTON] US state and local governments lost US$525 million (SsB99 million) in sales taxes last year due to consumer purchases over the Internet, a new study by Forrester Research shows.—BloombergBloomberg - 37 words
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506 2000-02-26 13 WASHINGTON Int'l Securities Exchange will rival floor-based markets Bloomberg AN electronic stock-options market, backed by the E Trade Group Inc, Goldman Sachs Group Inc and Morgan Stanley Dean Witter Co, has won approval from the Securities and Exchange Commission (SEC) to become theBloomberg - 506 words
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356 2000-02-26 13 BANGKOK Reuters STOCK trading via the Internet may take some time to become a viable reality in Thailand. Speakers at a seminar on "Internet trading: Are you ready?" organised by the Thai stock exchange were optimistic about online trading's future prospects, butReuters - 356 words
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239 2000-02-26 13 NEW YORK Reuters BOEING Co is starting a new unit aimed at developing new ventures ranging from e-commerce to telecommunications to overhaul and modification work on the thousands of Boeing aircraft around the world. The Seattle-based aerospace giant said on Thursday that theReuters - 239 words
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Advertisement128 2000-02-26 13 Simply answer the following two questions and the first 20 correct entries received will each w win a pair to the performance at the Kallang Theatre from Mar 16-19. BBMr Question 1: Who is presenting The Red Shoes j§., a love story a fairy tale at the Kallang Theatre? Answer128 words
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Advertisement322 2000-02-26 13 To .tdvertise call 101 l tree 1800 741 1 II V 1 IvCllJ Fa* No 741 1298 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF CANJY PRIVATE LIMITED (In Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN That pursuant lo Section 308322 words
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REGIONAL news
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453 2000-02-26 14 Eddie Toh - lAm budget 1999 GDP growth estimate also raised from 4.3% to 5.4% as economy recovers Reports by Eddie Toh in Kuala Lumpur THE Malaysian government has raised its growth projection for the economy to 5.8 per cent this year following higher-than-expected growth last453 words
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151 2000-02-26 14 KUALA LUMPUR Reuters THE Malaysian government has agreed to take control of national sewerage firm Indah Water Konsortium (IWK) from Prime Utilities Bhd, Finance Minister Daim Zainuddin said yesterday. "We have paid and we have signed (the agreement)," Bernama quotedReuters - 151 words
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MARKET moves
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Article144 2000-02-26 14 TONGKAH Bhd saw heavy trading yesterday for the second consecutive session on talk of lucrative IT-related deals, including the takeover of Malaysia's first Internet service provider, Mimos. Some 18.6 million Tongkah shares changed hands but the counter closed unchanged at RM3.70. Gains, however, were made on144 words
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141 2000-02-26 14 TOLL-ROAD and construction company United Engineers Malaysia traded higher yesterday as the market expects it to post a good set of 1999 earnings. The counter closed 30 sen stronger at RM10.70, with 9.1 million shares traded. Analysts estimate that an increase of up to141 words
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Article122 2000-02-26 14 Diana Oon Abdullah - Compiled by Diana Oon Abdullah wr w~ MARKET favourite MPI ended the week's trading yesterday below its opening price of RM50.25 on Monday, as profit-taking depressed the counter for the second consecutive session. MPI closed at RM49.75, down RM2.25. It fell RM2.75 on Thursday. MPI, and its122 words
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Article, Illustration213 2000-02-26 14 MALAYSIA will soon have a new class of brokers universal brokers. Finance Minister Daim Zainuddin said their entry would broaden the capital market, including corporate finance activities. "They will also be allowed to establish branches," he said in his Budget speechREUTERS - 213 words
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Article, Illustration498 2000-02-26 15 Shoeb Kagda - President's health a concern; analysts fear fuel tax hikes could stoke inflation From Shoeb Kagda in Jakarta A COMBINATION of nega tive economic sentiment and continuing political uncertainty weighed heavily on Jakarta's financial markets yesterday, driving both the stock market and theREUTERS - 498 words
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341 2000-02-26 15 Eddie Toh - Improvement likely to continue amidst market euphoria Froml Eddie Toh in Kuala Lumpur HALIM Saad of Renong Bhd can sleep better these days. Renong, in which associate United Engineers Malaysia owns 32.6 per cent, finally breached RM3.24 in the stock market yesterday341 words
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153 2000-02-26 15 HONGKONG AFP THE former chairman of China's flagship investment group in Hongkong is being investigated by a powerful government body over allegations of financial malpractice, a report said yesterday. The Central Commission for Discipline Inspection team would question Mr Zhu Xiaohua, 51, believed toAFP - 153 words
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NOTE Book
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82 2000-02-26 15 AFP [MANILA] The Philippines stands to lose US$2.5 billion (Ss43 billion) worth of concessional loans because of a lack of counterpart ftinding and a failure to comply with conditions, finance sources said yesterday. The sources who asked not be named said officials of theAFP - 82 words
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99 2000-02-26 15 Bloomberg [HONGKONG] Hongkong exports rose a better-than-expected 14.1 per cent in January, the third straight month of double-digit growth, as rising Chinese exports and demand in Europe and the United States boosted trade. Total exports from the Special Administrative Region (SAR) rose to HK5121.9 billionBloomberg - 99 words
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Article151 2000-02-26 16 TAIPEI Bloomberg THE Taiwan government $qjd it is ready to begin buying stocks with a NT$5OO billion (5527.8 billion) market stabilisation fund. i Finance Minister Paul Chiu said in a statement broadcast on Taiwan television that the government decided to activate the fund ahead ofBloomberg - 151 words
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Article, Illustration438 2000-02-26 16 HONGKONG Sale of luxury boosing site being seen as a marker for top end of market Reuters THE Hongkong government's first land auction this year should see keen bidding for a luxury residential site due to buoyant demand for upmarket housing, propertyReuters; FILE PHOTO - 438 words
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Article, Illustration1036 2000-02-26 16 karim raslan - I vlll d journal karim raslan The writer is a Kuala Lumpur-based lawyer IT all started when I met Filipino newspaper columnist and academic, Ambeth Ocampo in Manila last month. Intrigued by his dry wit I bought a stack of his books and1,036 words
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Advertisement57 2000-02-26 14 I r k f* it* BjH W: 1 I g—y r I w gmmSSSZL fr I More people are reading. According to an independent survey, readership of Singapore's daily newspapers increased in 1999 over the previous year. By s•> in total readership for the English and Chinese dailies, and 657 words
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Advertisement70 2000-02-26 15 m i| J| A. t' *ftf Ufc^tffeSSfc. ■76T"' .1, t*' V yX *rJ "»*wPf 4-- ■fPsf9s-" s I „> «M!«9ls»' A.- .X;y>, ia \s-V-* i*s i I if i. 1 'IT N x im. %0z 4*-' More people are reading. JTBIZ idus year. By 5% injotal readership for the and70 words
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Advertisement253 2000-02-26 16 mmmmm 1J 1 *< 1 fcAS"!" 1 Get moving to the Singapore Art Museum Exhibition: Unmasking Vollard I and transport yourself to Vollard's Paris and witness the birth Date ,n 1 26 of avankjarde art in Europe. Use the contest form to get o ,st Prize 5 conomy daM tkk253 words
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WORLD news
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Article, Illustration790 2000-02-26 17 Anthony Rowley - Furore over Ochi's remarks on bank inspections; issue could force early election Fromi Anthony Rowley w Tokyo JAPANESE Prime Minister Keizo Obuchi's embattled government was dealt another blow yesterday when the chairman of the official Financial Reconstruction Commission (FRC), Michio Ochi, whoREUTERS - 790 words
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284 2000-02-26 17 WASHINGTON AFP THE US dollar will likely fall against the yen and the euro as the pace of the US economy slows and foreigners become less willing to finance the country's record trade deficit, International Monetary Fund chief economist Michael Mussa said hereAFP - 284 words
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WORLD Watch
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66 2000-02-26 17 AFP [LONDON] National Westminister Bank yesterday posted 1999 pre-tax profit of £2.26 billion (516.16 billion), an increase of 5.6 per cent on the previous year. Nat West said its profits had been eroded by £45 million in costs incurred in trying to fight offAFP - 66 words
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Article47 2000-02-26 17 AFP [FRANKFURT] German car maker Volkswagen has abandoned its plans to buy rival BMW because it does not believe it would be able to persuade the main BMW shareholders, the Quandt family, to sell, VW's chairman Ferdinand Piech said yesterday. —AFPAFP - 47 words
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88 2000-02-26 17 AP [TAMPA, Florida] He is 57, not yet 64, but It appears someone still needs Beatle Paul McCartney the American Association of Retired Persons. The rock legend will be the cover of AARP's March/April issue of Modern Maturity magazine. The selection appears to beAP - 88 words
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61 2000-02-26 17 Bloomberg [VEVEY, Switzerland] Nestle SA said 1999 net income rose 12.3 per cent, beating expectations, after cutting costs and focusing on six key brands such as Nescafe coffees and Maggi foods. Net income rose to 4.72 billion Swiss francs (554.95 billion), or 120.7 francsBloomberg - 61 words
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Article, Illustration332 2000-02-26 17 PBOPZiB V, "V AFP [WASHINGTON] Former British prime minister Margaret Thatcher spied on members of her own government through a secret US-led surveillance network called Echelon, according to a CBS television report. In its broadcast to be aired tomorrow, the CBS investigative programme 60AFP; FILE PICTURE - 332 words
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558 2000-02-26 17 WASHINGTON Fignrebeestedby higher personal government spending Bloomberg THE US economy barrelled ahead in the fourth quarter at its fastest clip in three-and-a-half years as personal and government spending rose more than first estimated, revised government figures showed yesterday. Inflation was tame. GrossBloomberg - 558 words
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336 2000-02-26 17 NEW YORK Reuters US President Bill Clinton said that although Federal Reserve chairman Alan Greenspan signalled further interest rate hikes were likely, he was confident the moves did not represent a significant change in the chairman's strategy, the Wall Street Journal said yesterday. SpeakingReuters - 336 words
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539 2000-02-26 17 WASHINGTON Informal vote will pare down the candidates Bloomberg, NYT Reuters THE International Monetary Fund's executive board will hold an informal vote next week on who should be Its next leader, a move that could speed up a process of succession that'sBloomberg,; NYT; Reuters - 539 words
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FINANCE & commodities
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248 2000-02-26 18 Daphne Tay, Jardine Fleming - SGZ Derivatives Tradln&Reports MSCI Singapore Index Daphne Tay, Jardine Fleming THE Singapore stockmarket ended higher yesterday, lifted by gains in finance and technology issues. The Straits Times Index closed up 16.73 points or 0.79 percent at 2,140.40. The MSCI Singapore Free Index closed at248 words
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189 2000-02-26 18 Matthew Den Bleyker Refco Singapore - MSCI Taiwan (Mures Matthew Den Bleyker Refco Singapore THE Taiwan Stock Exchange Weighted Price Index fell 166.68 or 1.7 per cent to 9,432.49, the fifth straight day of declines. Negative sentiment from the Chinese threat continued to influence market and investors focused their selling189 words
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Article276 2000-02-26 18 ENERGY REPORT Reuters [LONDON] High-flying world oil prices held most of their recent gains yesterday as the top energy decision-makers from Saudi Arabia and the United States prepared to meet for oU supply talks. International benchmark Brent for April delivery was 13 US cents lowerReuters - 276 words
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Article334 2000-02-26 18 Bloomberg London THE US dollar posted its biggest rise in three weeks against the euro on expectations that figures released yesterday would show that the world's largest economy is expanding by almost twice as fast as the main euro-area economies. Before the US GDP figures were released, theBloomberg - 334 words
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Article, Illustration1218 2000-02-26 18 MTERBAint CEOSS RATES Feb 25 AS C$ —t Eto Ffr Dm HIC$ tot t> taptu V Wtm W Hgfilh Nm SStod Sfr W$ Urt tomt us$ Australia 0.996 6.178 0.624 4.095 1221 4.802 26.920 45.936 0.684 7.012 2345 1267 ***** 25.204 1054 3.907 1005 B.967 23.437 0J87 0.617 Canada IIM1,218 words
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Article1825 2000-02-26 18 SI COM FUTUKBS Feb 25 RUBBER (futures dostag« it UOpM) RSSICONTBACTacMtoAO CtM* VMmm OpM Month Wq* Low Wtt (towD MwH Mar 00 ***** Apr 00 ***** 200 MayOO 127.00 700 J tin 00 130.00 130.00 t3&00 300 100 RSS3C0NT8ACT(UScMts/k|) VotaM OpM Month HI# im tm Eimm) Mrnmk MarOO 7175 801,825 words
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STOCKS east asia
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Article, Illustration2839 2000-02-26 19 HONGKONG AFP PHaagSeas +***** HONGKONG shares shrugged off Wall Street's fall to close 0.8 per cent higher yesterday, spurred by buying in telecom shares on rumours of a merger deal involving Cable and Wireless HKT, dealers said. "The market is mainly boosted byAFP - 2,839 words
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Article1955 2000-02-26 19 TOKYO AFP QMkkBZB ****** TOKYO share prices closed 1.3 per cent higher yesterday as foreign investors hunted telecommunications and other high-tech issues, brokers said. The Tokyo Stock Exchange's Nikkei 225 Index gained 246.44 points to end at 19,817.88. The Topix of all issues in theAFP - 1,955 words
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Article, Illustration971 2000-02-26 19 Reuters Q Shenzhen B Index -034 SHENZHEN'S hard currency B shares ended easier yesterday with buying interest remaining capped by the absence of policies aimed at boosting the market, analysts said. The B Share Index fell 0.24 points, or 0.28 per cent, to 84.48 on turnover of HK$44 million,Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd - 971 words
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Article357 2000-02-26 19 AFP □WP Index jjj<B UNCERTAINTIES ahead of the March 18 elections and cross-strait tensions pushed Taiwan shares down for the fifth consecutive day to below the 9,500-point resistance level yesterday, dealers said. The Taiwan Stock Exchange Weighted Price Index plunged 166.68 points or 1.7 per cent to 9,432.49, onAFP - 357 words
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Page 19 Advertisements
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Advertisement15 2000-02-26 19 Mkg I essay a creative way to recruit the riqht talents. |»jBHH|BKJI J* J 1800-741-188315 words
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STOCKS klse
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Article8597 2000-02-26 20 INDUSTRIALS 2000 0«v Nat Cap High Lew Company Sat* OOP High Law >/I 420 310 A|ioomoto 384 -8 3 400 384 24.4 '55.6 tS8 91 Anqkpsa 130 -21 1981 156 130 BIT 452 290 ApolloFoodHtq 422 -14 88 452 422 10.1 >68.8 2975 2700 BAT 50c 2825 25 1703 2838,597 words
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Article, Illustration426 2000-02-26 20 AFP, AFX-Asia fl Composite Index -&91 MALAYSIAN shares closed 0.7 per cent lower yesterday as investors ignored news of a higher-than-expected growth for last year and cashed in ahead of the weekend, dealers said. The Kuala Lumpur Stock Exchange Composite Index fell 6.91 pointsAFP,; AFX-Asia - 426 words
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SGX clob & regional stocks
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Article3130 2000-02-26 21 BONDS &WARRAHTS Feb 25 ■t Mats fnml limn V-M lat M Bay laiMaili Cot Ear Mac MM» ■fl u, Ma, fait *w rMU M* las hr> Safer M>» laMdts) M» Ma mi t""l' Ufl KM 11.5 J 3,60 A Acar ******, US$ 43.5 '26 43 5 43.5 43.5 44 3113,130 words
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Article301 2000-02-26 21 AFP Q Composite Index -161 THE Composite Index closed down 2.61 points at 864.76, off a high of 873.08 and a low of 847.14. Advancers led declines 521 to 313. AFP Fit 25 Wen Anam Semi 8800 590 Br am T«ch 1550 25 Central Bank 2750 -50 Chatl CommAFP - 301 words
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Article, Illustration778 2000-02-26 21 AFP SET Index +1L56 THAI stocks closed up 2.9 per cent yesterday, leapfrogging the 400-points barrier, as investors snapped up oversold stocks in the banking, energy and entertainment sectors, dealers said. Blue chip stocks extended the rally into a third day. The Stock Exchange of Thailand (SET) Index roseAFP - 778 words
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Article, Illustration695 2000-02-26 21 AFP Qfinmpftgite Index -4J3 INDONESIAN share prices closed 0.9 per cent lower yesterday on continued foreign selling, but with gains in selected large stocks limiting losses, dealers said. "There is no point buying into this market now because foreign investors are still liquidating their posiions although many big stocksAFP - 695 words
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Article270 2000-02-26 21 AFP QraSE-40 +9.65 THE New Zealand stock market closed up 0.5 per cent yesterday, after buying in Fletcher Challenge and other market leaders offset losses in Telecom, dealers said. The NZSE-40 gained 9.65 points to close at 2,038.45 on turnover of NZ5115.7 million. —AFP nt;i jig V- row AdvantageAFP - 270 words
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Article566 2000-02-26 21 AFP All Ordinaries +1M AUSTRALIAN share prices ignored Wall Street's sharp fall overnight to close 0.5 per cent stronger yesterday, brokers said. The Australian Stock Exchange's key All Ordinaries Index rose 16.8 points to 3,123.7. Turnover totalled 1.13 billion shares worth A 53.08 billion. The All Industrials Index closedAFP - 566 words
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Page 21 Advertisements
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Advertisement24 2000-02-26 21 the new The Times every Monday The market was closed yesterday Buy It. Sell It. Find It. Classified. Call Today For Results Tomorrow. 1800-737-116624 words
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Article8684 2000-02-26 22 SGX MAl M HOARD Transaction date: Feb 25 Or Or M Wt U-VI Last V«l Dry Laat Owtt M• OK VM Mat Cm A«g Hpk l—1 wf c—p—y Mi rooo> M0I t— Bwyar W» CV Wl iJ Ww MULTHNMISTVY 182 69 m c KXW Acma 50c M4 unch8,684 words
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Advertisement13 2000-02-26 22 Business Tools Just imagine life without them. Boy IL Sdi IL Rod It13 words
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The Arts
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Article, Illustration1417 2000-02-26 23 JAIME EE - The Singapore International Film Festival will celebrate its entrance into teenhood with a showcase of Asian sex films and a bigger menu for its visual feast jazbse ee sneaks a peek at the programme COVER STORY JAIME EE WHAT is it about adolescence that makes you obsessed with1,417 words
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Article1326 2000-02-26 24 THE 13th Singapore International Film Festival's 300 films will be broken up into different sections. Here are some highlights from the various categories: OPENING FILM Monday (Japan) Directed by Japanese filmmaker Sabu, the man behind Unlucky Monkey, which was screened at last year's festival. Known for his yakuza1,326 words
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Article, Illustration650 2000-02-26 24 Seah Siew Hua - CONCERT Popular group Shooglenifty will join in next month's curtain-raiser to main event in Sept By\ Seah Siew Hua THEY are described as a heady blend of Celtic reels, acid jazz and Latin grooves. Scottish group Shooglenifty, who were a roaring success at their650 words
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Article, Illustration1540 2000-02-26 25 M Yasotha,Parvathi Nayar - Compiled by M Yasotha,Parvathi Nayar MUSIC Wippuri gypphmy Oruli—Urn Great Classics: Handel meets Tchaikovsky Three large-scale works make up this concert conducted by conductor emeritus Choo Hoey. The splendour of ceremonial music of heard in Handel's popular Water Music in an orchestration by Irish composer-conductor Sir Hamilton Harty,1,540 words
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Article, Illustration189 2000-02-26 25 Felicia Yap - By Felicia Yap TW Bm "Hmm, what does that mean?" Moat of us would probably react that way when presented with a place of symbolic art Thankfully, explanations are accessible. Flayaai The year-long seriee of art talks organised by the Singapore Art Museum, the Department of Art Theory and189 words
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Article, Illustration1167 2000-02-26 26 FELICIA YAP - Love found IP and lost in a ballet The choreographer of Singapore Dance Theatre's latest offering sees a modern parallel in the fairy tale, she tells raucu tap FELICIA YAP ONCE upon a time, a beautiful ballerina named Victoria Page meets a dashing choreographer and falls in love. But no,PHOTOS BY SIEW YAW HOONG - 1,167 words
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Article, Illustration497 2000-02-26 26 Koh Huiting - PBOMB By Koh Huiting WHEN acclaimed pianist Tedd Joselson first came to Singapore from the US, it was to have been a welcome respite from his highly stressful performing schedule. Now a Singapore permanent resident, he can't seem to keep still, with upcoming master497 words
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Article, Illustration562 2000-02-26 26 P Y Van - m CONCERT REVIEW French musicians display mastery that justifies their world-class reputation By\ P Y Van LES Musiciens Du Louvre Grenoble is regarded as one of the leading European baroque ensembles in France, and known around the world through its recordings on the Archiv Produktion562 words
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Article, Illustration1294 2000-02-26 27 PARVATHI NAYAR - Nokia's chief designer walks parvatbz mayar through the winning picks of the company's annual arts awards and discusses his design philosophy PARVATHI NAYAR CLEARLY, winning arts awards is a boost to any artist, but the judging itself can often seem an unclear art. BT took the opportunity1,294 words
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Page 23 Advertisements
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Advertisement17 2000-02-26 23 i •W» I F^SI If you appreciate theatre, d you'll love this card. IOOCBC Bank www.ocbc.com.sg J17 words
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Advertisement18 2000-02-26 24 All tickets fbr SIFF go on tale from March Sat all Sistic outlets. Call 948-5555f0r mort booking details.18 words
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Advertisement52 2000-02-26 25 The Average Size and Performance of a PruLink Fund. the largest unitised fund in Singapore. wl|piL- An unbeatable record with over $730 million 4- invested by 90,000 people since its launch in 1992. PRT jT TXII^ 'AI>I aV Probably the best managed funds today INVESTMENTS Always Listening. Always Understand in,.52 words
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Page 26 Advertisements
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Advertisement19 2000-02-26 26 Win free tickets to SDT's performance of The Red Shoes. Turn to Pg 13 for the contest entry form19 words
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Page 28 Advertisements
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Advertisement319 2000-02-26 28 1171 a j* J Present Diners Club Diners Club Credit Card iMgilMttH Where to wine, nine and entertain... 'M ww m, te "Tunch" is the best for lunch and high tea rolled into one. Which means longer serving hours and even more scrumptious spreads. "Tunch" from 12 noon 4.30pm £15.80319 words
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Advertisement37 2000-02-26 28 bbh HOTEL GRAND CENTRAL LIMITED 22 Orchard RoacVCavanagh Road, Singapore *****7 Tel: 737 9944 Ext 400/02 Fax: 733 3175 w£M^ 4 h^M^Mm^m.^'v t,'A K J l, t -££fi Western. Spanish Cantonese Hi Japane^ M n .Mexican Mongolian37 words
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Advertisement39 2000-02-26 28 depend on predictions. wn P Advertise in Wine, Dine Entertain of The Business Times and reach out to 117,000 readers daily. Contact Patrick Ang at 740 1284, Amy Choo at 740 1559, or Shirley Lee at 740 2290 now.39 words
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Advertisement38 2000-02-26 28 fMV 111 Door >j /'A Savour local fare and our award-winning Chatterbox Chicken Rice We arv open 24 hours daily in case you have not eaten yet. i Enquiries: 831 6291 Hantkrrin Suhfapurr JIJ OfcKird Rojd, SmgipiYi- *****7.38 words
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Page 28 Miscellaneous
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Miscellaneous871 2000-02-26 28 i no DUoiiioao i imes, ociiuiuay, rouiuai y tw, twww VI mtmmmmmmm SSOffiL™ o. A Z m dubbed mMa 8.00 AM Kids Central: The Clear Day You Can 7.00 Sejarah Dunia. Teletubbies. Hear Forever. &00 Berita. n(*- v ii^P 830 Tweenies: Spider. 9.30 News 5 Tonight. 830 Layar Suria: Maria871 words
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Miscellaneous278 2000-02-26 28 CRYPTIC CROSSWORD ACROSS 6 Potential pile boss may make (8) 1 Promenade provides ocean air 7 S* l faded away from unrequited (8) love but bounces back (4) 9 One is distressed by it (8) 8 Soccer player gets the bird for 10 Furs, we hear, for a saucy girl278 words
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