The Business Times, 26 February 2000

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Total Pages: 28
1 28 The Business Times
  • 15 1 THE BUSINESS TIMES MITA (P) 035/12/1999 85* SINGAPORE Internet: http://bu£iness-times.asial .com.sg/ SATURDAY, FEBRUARY 26, 2000
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  • 67 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 B
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  • 76 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 HONGKONG
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  • 787 1  -  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 traded
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  • 438 1  -  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.
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  • 751 1  -  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 range
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    • 97 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 another
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    • 16 1 CyberWarlu to announce HKT bid on Mon, Next Pg IhRL Mm*. MgsmmMt- The Arts. Back Page
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    • 4 1 Clob statement. Next Page
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    • 69 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 online
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  • NEXT page
    • ON THE grapevine
      • 131 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 safe
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      • 230 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 of
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      • 113 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's
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    • 549 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 to
      FILE PHOTO  -  549 words
    • 323 2  -  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 announcement
      Source: Bloomberg  -  323 words
    • 677 2  -  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 earnings
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    • 451 2  -  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 announcement
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  • 683 3  -  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 from
    ARTHUR LEE  -  683 words
  • 197 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 the
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  • 546 3  -  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 themselves
    FILE PHOTO  -  546 words
  • 381 3  -  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 that
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  • 442 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 debt
    442 words
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  • 463 4  -  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 at
    FILE PHOTO  -  463 words
  • 1522 4  -  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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    • 914 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. Chris
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  • 766 6  -  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 a
    FILE PHOTO  -  766 words
  • 512 6  -  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 their
    512 words
  • 1007 6  -  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 retirement
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  • 885 7  -  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 fiscal
    JEN CHUA  -  885 words
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  • SINGAPORE companies
    • 644 8  -  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
    • 806 8  - 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 falling
      806 words
    • 541 8  -  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 by
      Source: Bloomberg  -  541 words
    • 426 9  -  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 on
      CHUA CHIN HON/ST  -  426 words
    • 336 9  -  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 issuing
      336 words
    • 493 11  -  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 King
      493 words
    • 351 11  -  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 to
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    • 146 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," a
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    • 158 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 volume
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    • 359 11  -  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 $15.3 million for the year ended Dec 31. Pre-tax profit
      FILE PHOTO  -  359 words
    • 4359 11 Net tern IM LKXl Awtpac Sop 23 P 1.997 4.786 O.SS 2.08 Bote TV LV TV LV UXln Stc 13 I 122# 1796 UO OJ1 C»w»my MM (9m) <9m> lets) (cts) LumCheng Sep 30 P 1.246 *.912 0J2 244 Lyng Km HK$ OK 03 I *****
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    • 128 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 of
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    • 123 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 PUBLIC
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    • 1342 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. on
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  • SINGAPORE markets
    • 478 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 DBSGrp
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    • 560 10  -  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, which
      560 words
    • 356 10  -  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, the
      Source: Reuters  -  356 words
    • 182 10  -  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 deter
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    • 251 10  -  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 day
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    • 135 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 units
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  • Page 10 Advertisements
    • 65 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. Ih
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    • 22 10 Looking for a forum to talk stocks? Chatiine is the place to be Find us at http //iol dcs com sg/ ©DBSBANK
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  • SINGAPORE news
    • 420 12  -  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 in
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    • 294 12  -  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
    • 358 12  -  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 the
      358 words
    • 303 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 per
      Bloomberg  -  303 words
    • 147 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 Chua
      Bloomberg  -  147 words
    • 65 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 actually
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    • 275 12  -  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 is
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  • Page 12 Advertisements
    • 11 12 [TODAY©**^*#. Lianhc laobao little toys I |Cire f big business —USsBobillion
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    • 137 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 27
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    • 30 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.
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  • e News
    • 531 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 those
      LAT-WP  -  531 words
    • 458 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 to
      Reuters; AP  -  458 words
    • e Briefs
      • 43 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). Bloomberg
        Bloomberg  -  43 words
      • 30 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.—Bloomberg
        Bloomberg  -  30 words
      • 31 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.—Reuters
        Reuters  -  31 words
      • 35 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. Bloomberg
        Bloomberg  -  35 words
      • 41 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. Bloomberg
        Bloomberg  -  41 words
      • 37 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.—Bloomberg
        Bloomberg  -  37 words
    • 506 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 the
      Bloomberg  -  506 words
    • 356 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, but
      Reuters  -  356 words
    • 239 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 the
      Reuters  -  239 words
  • Page 13 Advertisements
    • 128 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? Answer
      128 words
    • 322 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 308
      322 words

  • REGIONAL news
    • 453 14  -  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 last
      453 words
    • 151 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 quoted
      Reuters  -  151 words
    • MARKET moves
      • 144 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 on
        144 words
      • 141 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 to
        141 words
      • 122 14  -  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 its
        122 words
    • 213 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 speech
      REUTERS  -  213 words
    • 498 15  -  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 the
      REUTERS  -  498 words
    • 341 15  -  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 yesterday
      341 words
    • 153 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 to
      AFP  -  153 words
    • NOTE Book
      • 82 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 the
        AFP  -  82 words
      • 99 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 billion
        Bloomberg  -  99 words
    • 151 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 of
      Bloomberg  -  151 words
    • 438 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, property
      Reuters; FILE PHOTO  -  438 words
    • 1036 16  -  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 and
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  • Page 14 Advertisements
    • 57 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 6
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    • 70 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 and
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    • 253 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 tkk
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  • WORLD news
    • 790 17  -  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, who
      REUTERS  -  790 words
    • 284 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 here
      AFP  -  284 words
    • WORLD Watch
      • 66 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 off
        AFP  -  66 words
      • 47 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. —AFP
        AFP  -  47 words
      • 88 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 be
        AP  -  88 words
      • 61 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 francs
        Bloomberg  -  61 words
    • 332 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 60
      AFP; FILE PICTURE  -  332 words
    • 558 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. Gross
      Bloomberg  -  558 words
    • 336 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. Speaking
      Reuters  -  336 words
    • 539 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's
      Bloomberg,; NYT; Reuters  -  539 words

  • FINANCE & commodities
    • 248 18  -  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 at
      248 words
    • 189 18  -  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 selling
      189 words
    • 276 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 lower
      Reuters  -  276 words
    • 334 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, the
      Bloomberg  -  334 words
    • Article, Illustration
      1218 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 IIM
      1,218 words
    • 1825 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 80
      1,825 words

  • STOCKS east asia
    • 2839 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 by
      AFP  -  2,839 words
    • 1955 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 the
      AFP  -  1,955 words
    • Article, Illustration
      971 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$44 million,
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  971 words
    • 357 19 AFP □WP Index jjj<B UNCERTAINTIES ahead of the March 18 elections and cross-strait tensions pushed Taiwan shares down for the fifth consecutive day to below the 9,500-point resistance level yesterday, dealers said. The Taiwan Stock Exchange Weighted Price Index plunged 166.68 points or 1.7 per cent to 9,432.49, on
      AFP  -  357 words
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  • STOCKS klse
    • 8597 20 INDUSTRIALS 2000 0«v Nat Cap High Lew Company Sat* OOP High Law >/I 420 310 A|ioomoto 384 -8 3 400 384 24.4 '55.6 tS8 91 Anqkpsa 130 -21 1981 156 130 BIT 452 290 ApolloFoodHtq 422 -14 88 452 422 10.1 >68.8 2975 2700 BAT 50c 2825 25 1703 283
      8,597 words
    • 426 20 AFP, AFX-Asia fl Composite Index -&91 MALAYSIAN shares closed 0.7 per cent lower yesterday as investors ignored news of a higher-than-expected growth for last year and cashed in ahead of the weekend, dealers said. The Kuala Lumpur Stock Exchange Composite Index fell 6.91 points
      AFP,; AFX-Asia  -  426 words
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  • SGX clob & regional stocks
    • 3130 21 BONDS &WARRAHTS Feb 25 ■t Mats fnml limn V-M lat M Bay laiMaili Cot Ear Mac MM» ■fl u, Ma, fait *w rMU M* las hr> Safer M>» laMdts) M» Ma mi t""l' Ufl KM 11.5 J 3,60 A Acar ******, US$ 43.5 '26 43 5 43.5 43.5 44 311
      3,130 words
    • 301 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 Comm
      AFP  -  301 words
    • Article, Illustration
      778 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 rose
      AFP  -  778 words
    • Article, Illustration
      695 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 stocks
      AFP  -  695 words
    • 270 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 Advantage
      AFP  -  270 words
    • 566 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 closed
      AFP  -  566 words
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  • 8684 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 unch
    8,684 words
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  • The Arts
    • Article, Illustration
      1417 23  -  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 with
      1,417 words
    • 1326 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 yakuza
      1,326 words
    • 650 24  -  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 their
      650 words
    • Article, Illustration
      1540 25  -  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
    • Article, Illustration
      189 25  -  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 and
      189 words
    • 1167 26  - 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
    • 497 26  -  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 master
      497 words
    • 562 26  -  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 Produktion
      562 words
    • Article, Illustration
      1294 27  -  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 opportunity
      1,294 words
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  • Page 25 Advertisements
    • 52 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



  • Page 28 Advertisements
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      319 words
    • 37 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 Mongolian
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    • 39 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.
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  • Page 28 Miscellaneous
    • 871 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: Maria
      871 words
    • 278 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 girl
      278 words