The Business Times, 4 March 2000

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Microfilm: NL21781
Total Pages: 22
1 22 The Business Times
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  • Title Section
    Lock icon Masthead
    14 1 THE BUSINESS TIMES MITA (P)035/12/1999 85* SINGAPORE Internet: http://business-times.asial .com.sg/ SATURDAY, MARCH 4, 2000
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  • Article
    Lock icon MARKET SUMMARY
    68 1 □m 2417J03 (+6.86) □BT-SRI 750.73 (-1.23) □sonmnmiiss 278J0 (+1.50) STOCK MARKET INDICES Friday Change KLSE COM? 848J1 >«.« NIKKEI 1MT J4 -137i7 HANG SENG 17 J8614_+34&43 SET INDEX ***** JAKARTA COUP _54&66 >102 MANILA OOMP__ljBM.7S >»31 TAIPEI WPI ifiSm *44J1 SEOUL COM P 8MJ9- >0.17 CLSA CHINA B
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  • Article
    Lock icon FINANCE
    75 1 F0SEX1ATEB ust st USS L72S £<U8$/SS per£) LBTt 1716 EUB0(US$/8$/E) 0J66 MM DM 0.861 YEN 107J MOO RM 1800 0.463 HKS 7.781 (1221 BAHT 1717 0.041 RUPUH 7,468 0128 'St to 100 until PUKE BATES SINGAPORE* 5.80 KUALA LUMPUR 7.67 JAKARTA 39.00 BANGKOK .9.66 MANILA 11.00 HONGKONG 8J0 TAIPEI
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  • Article
    Lock icon SGX revamps listing rules to attract more IPOs
    682 1  -  Push to position SOX as premier financial flTfthangfl ill AfflA outside of Japan comes ahead of expected similar move in HK By] Lee Han Shih [SINGAPORE] The Singapore Exchange (SGX) yesterday introduced wide-ranging changes to its listing rules to attract more initial
    682 words
  • Article, Illustration
    Lock icon Richard Li: I feel bad upsetting S'pore feelings
    1099 1  -  CyberWorhs chief says HKT takeover deal is not an anti-Singapore move By Catherine Ong [SINGAPORE] Richard Li, whose 10-month-old Internet company this week snatched a US$3B billion (5565.4 billion) corporate prize from Singapore's biggest company, said he feels "pretty bad" that he
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  • Article
    Lock icon Petronas forks out RM1b for 27% stake in Proton
    470 1  -  Oil giant to acquire stake from cash-strapped Hicom From] Eddie Toh in rniaia uumpur THE Malaysian state oil company is forking out RM1.03 billion (***** million) in cash in a long-awaited deal to acquire a 27.2 per cent stake in national
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  • Article
    Lock icon Dow up 198 on weak jobs data
    101 1 Reuters [NEW YORK] US stocks powered ahead in early morning trading yesterday, boosted by a positive employment report that showed inflation remains under control. At 11 am EST, the Dow Jones Industrial Average was at 10,363.48, up 198.56 points. The Nasdaq Composite Index
    Reuters  -  101 words
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    • ON THE grapevine
      • Article
        Lock icon Dijaya at crossroads
        136 2 DIJAYA Enterprise, controlled by Malaysian tycoon Vincent Tan and his younger brother, Danny, may well turn out to be an incubator for Internet start-ups in the country. This is because the brothers are not too excited about the existing electrical business of the company, formerly known as
        136 words
      • Article
        Lock icon Traits of a defective investor
        52 2 YOU are a highly-defective investor if you think short-term, are greedy, believe in the greater fool, run with the herd, overgeneralise, are trendy, and play with other people's money. That is, if you agree with Massachusetts Institute of Technology economist Paul Krugman, who pointed out
        52 words
      • Article, Illustration
        Lock icon Eyeballs run riot over Lopez
        58 2 ACTRESS Jennifer Lopez in a revealing outfit at the 42nd Grammy awards was downloaded over 642,000 times from the Grammy.com Web site, according to IBM which designed and hosted the Internet site. Traffic peaked at about 117,000 hits per minute on the night of the
        58 words
    • Article
      Lock icon Singapore backs Mr Yen's quest for top IMF post
      542 2  -  Present system of picking leader untenable: B6 Lee By Anna Teo [SINGAPORE] Singapore has come out in support of Japan's nomination of Mr Yen in the tussle for the top job at the International Monetary Fund (IMF). Deputy Prime Minister Lee
      542 words
    • Article
      Lock icon Li magic the stuff legends are made of
      460 2  -  Tie-up with PCCW sees top China PC maker's shares soar 58% in 2 days From Meera Tharmaratnam m Hongkong THE market's fascination with Hongkong's Internet wunderkind Richard Li has rubbed off on Legend Holdings, China's No 1 personal computer maker, whose shares
      460 words
    • Article, Illustration
      Lock icon ING Barings replaces HSBC as HKT adviser in takeover
      783 2  -  Market gears up for Li-Murdoch talks on fate of Star TV-HKT link From l Quak Hiang Whai in Hongkong CABLE Wireless HKT Ltd, which is being taken over by Richard Li's Pacific Century CyberWorks, has formed an independent committee and appointed
      AFP  -  783 words
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  • SINGAPORE companies
    • Article
      Lock icon KepFels in Brazilian shipyard joint venture
      521 3  -  Beating SembCorp in Latin American foray, it ties np with Brazil's Pern Setal to ran rig repair facility Byi Conrad Raj THE Keppel Group has gone into a shipyard venture- in Brazil, ahead of rival SembCorp Industries (SCI). Both recently said they wanted a
      521 words
    • Article, Illustration
      Lock icon Tibs posts 20% earnings jump, proposes 1-for-2 bonus
      424 3  -  Byi Christopher Tan IN a double-decker announcement yesterday, bus company Tibs Holdings said earnings last year rose 20 per cent to $3.72 million and that it was proposing a 1-for-2 bonus share issue. Growth of new towns in which it operates, higher
      424 words
    • Article
      Lock icon Want Want sees 21% rise in profits
      271 3  -  By] Ling Su Ann TAIWANESE snack maker Want Want Holdings yesterday posted a 21 per cent jump in net profits to $101 million for the year ended Dec 31. Turnover rose 10.6 per cent to $494.5 million, thanks to increased China sales. The
      271 words
    • Article, Illustration
      Lock icon Traditional electronics stocks back in favour
      425 4  -  New economy plays like Medi&ringxom dumped in favour of contract manufacturers By\ Carol Eng TRADITIONAL electronics stocks were back in demand yesterday as investors dumped new economy ones like Mediaring.com. The rush for shares of contract manufacturer Venture Manufacturing pushed its share price up
      Source: Bloomberg  -  425 words
    • Article
      Lock icon World of Sports seeks listing, Mediaring to have substantial stake
      239 4 WOS World of Sports has applied to list on the Singapore Exchange and if approved, mainboard-listed Mediaring will be a substantial shareholder in the company. Mediaring, which this week posted a $25 million loss and warned of more red ink
      239 words
    • Article
      Lock icon 'New economy' raises risks of a blowout
      790 4  -  lock siew r sivanithy OVER the past six months or so, the idea that there's a "new economy" out there that replaces the old has caught on like a house on fire. No one knows for sure who first coined the term "new
      790 words
    • Article, Illustration
      Lock icon Sale of Salim's First Pacific, QAF nearing completion?
      541 4  -  End-March target, but Ibra gives no farther details From I Shoeb Kagda in Jakarta THE Indonesian Bank Restructuring Agency (Ibra) expects to complete the sale of its stakes in two overseas listed firms belonging to the Salim Group by the end of
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    • COMPANY Briefs
      • Article
        Lock icon Ascott sees refinancing deal by June
        53 4 THE Ascott said yesterday that talks with banks in Singapore for long-term funding to refinance the group's credit line of $162 million are at an advanced stage. It expects the refinancing to be in place by June 30 before the expiry of its existing
        53 words
      • Article
        Lock icon Eng Kong suffers 10% profit fall
        99 4 ENG KONG Holdings yesterday reported a 16 per cent decline in net profit to $1 million on the back of 5 per cent lower revenues of $20 million for the six months to December. Net tangible asset per share fell to 13.13 cents, down
        99 words
      • Article
        Lock icon Corrections and clarifications
        50 4 IN A Reuters report carried in BT yesterday, "DBS, ST Telemedia, bex.com form Net venture", the news agency reported that the venture was aiming for US$l.l billion in transactions a year. Reuters has since run a correction to say that the amount should be in Singapore dollars.
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    • Article, Illustration
      Lock icon CEI price doubles on mainboard debut
      292 4  -  By. Andrea Tan CEI Contract Manufacturing made a strong debut on the mainboard yesterday, doubling its offer price of 16 cents a share. The counter was the most actively traded with a volume of 145.6 million shares. The printed circuit board assembler issued 56
      Source: Bloomberg  -  292 words
    • Article
      Lock icon Star East to buy 1/3 of Planet Hollywood Asia
      204 4 HONGKONG-LISTED entertainment firm Star East Holdings is buying a one-third stake in Hotel Properties Ltd's Planet Hollywood Asia (PHA). Hotel Properties (HPL) said yesterday that Star East will subscribe for 6.8 million new PHA shares at about $1 apiece. It will
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    • Article
      Lock icon AFP eyes Nasdaq listing for chemicals e-com unit
      250 4 ASIA Food Properties (AFP) yesterday said it was eyeing a Nasdaq listing this year or next for its e-com-merce venture with major Asian chemical firms. The Indonesian-linked group said its subsidiary, AFP.Net, would hold a 7 per cent stake for US$5OO,OOO (S$850,000)
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    • Article, Illustration
      Lock icon Wong's Circuits faces delisting on PCB business sale
      458 5  -  The SGX listed firm plans to sell business to nnnamed buyer for USsl9lm by July By\ Lee Han Shih WONG'S Circuits yesterday said it could sell off its mainstay printed circuit board (PCB) business for as much as US$l9l million (*****.5 million)
      458 words
    • Article
      Lock icon Four loanstocks dropped from CPFIS
      190 5 THE Central Provident Fund dropped four loanstocks from its list of approved corporate bonds and loanstocks on March 1, because their respective issuers have not got a credit rating for them. The deleted loanstocks are CWT Distribution Ltd (3 per cent Unsecured Loan Stock 2000),
      190 words
    • Article, Illustration
      Lock icon Tech stocks hog the limelight in Feb
      492 5  -  Sesdaq volume np eight-fold amid dot-com fever; bine chips largely sidelined By l Ven Sreenivasan FEBRUARY stockmarket activity was driven largely by small cap stocks, with technology sector issues hogging the limelight, as dot-com fever gripped the market. Trading volume on Sesdaq dominated
      FILE PHOTO  -  492 words
    • Article
      Lock icon BT SHARE information service
      4035 5 NaCaara tw VMfKNHK) Doc 03 I 45.433 2X792 22.7 119 (Mo TV LY TT IT MM SdpS P ***** 9.767 8.00 7.12 Ctrnmm mm ($M KM <*M MMC Fab 2 I 0.321 0.63% 0.64 OL I Marco Polo Nov 22 163.991 30.709 MX 7.70 AMOCdMp MI2
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      Lock icon Page 3 Advertisements Column 1
      109 3 H\ c r ttlt the fiit p' f P I*l dri Get the Game. Pdxi Main Showroom: Pan-West Tee To Green, *<)1-03 L& Y Building. Sy jalan I'emimpin. Tel: 3t i <>32H. Tr) Outlets: Green Fairways, Former Ikikit Timah Race Course. Fairways Drive. Tel: t66 7H03 laetan Scotts, Shaw llmi.se.
      109 words
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  • SINGAPORE markets
    • Article
      Lock icon Untitled
      467 6 Stocks Vojugj CEI5c 145,576, (XX MedtaRinglOc 39,796,0(X lonlce P$1.00 31.427, OCX. Frt Links 20c 25.700.00C GoWron20c 20.065,00< Fastech US 10c 15,467, OCX MMI HJdgs 10c 9,242,00C Unto Island 10c 9.060.00C 'Gentinglnt 8.322.00C IPC020C 8£45,00C Stocta OBSGrp 48,264,306 PacificCentury 47,965,425 Media«ng10c 47,267,550 SPH.... 44,188,591 CB5c 39,133,855 DatacrafMOc 28,745,516 SIA 27,347,400 OUB.
      467 words
    • Article, Illustration
      Lock icon Quality tech stocks rally as broad market falters
      543 6  -  11 comment STOCKS r.sivanithy THERE was a noticeable shift to quality yesterday within the ranks of tech stocks when the smaller ones were shunned in favour of those with proven track records. Equally noticeable was the lack of institutional money, at least
      543 words
    • Article, Illustration
      Lock icon CityDev covered warrant has interesting numbers
      184 6  -  WARRANT WATCH By\ R Sivanithy A COMBINATION of a stagnant physical market, worries of oversupply, rising development charges for property and a diversion of interest to Internet stocks has resulted in previous property favourites like City Developments and DBS Land being bashed to new
      184 words
    • Article
      Lock icon Greenback ends higher against euro and yen
      528 6 It is mixed against Asian units, slipping against the baht and Philippine peso AFP (SINGAPORE] The US dollar closed higher yesterday against the euro and the yen in Singapore trade, dealers said. The euro ended at U550.9652, down from Thursday's close of U550.9736.
      AFP  -  528 words
    • Article, Illustration
      Lock icon Freight Links stock may be overbought
      238 6  -  HOT STOCK By' Wong Wei Kong SHARES of logistics firm Freight Links Express Holdings continued their rise yesterday, with the stock finishing as one of the few gainers on the most active list. Freight Links shares closed up 1.5 cents or 4.4 per cent
      238 words
    • Article
      Lock icon Market Notices
      142 6 ♦HBM Print has appointed Teo Soo Chew, Teo Soo Weng, Teo Chiang Khai, Hsieh Fu Hua and Bertie Cheng Shao Shiong to its board of directors. ♦LEE Hwa Holdings said wholly-owned World Class Land Pte Ltd has acquired free from encumbrances, a 742.6 sq m piece of vacant
      142 words
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      Lock icon Page 6 Advertisements Column 1
      292 6 (M) MOTOROLA f XWXkd i 1996 tlnn Outstanding Career Opportunity for No Ordinary Talent PROJECT DIRECTOR, ASIA This challenging role offers tremendous opportunities for development and involvement in a world-class organisation. As Project Director for Asia, you will manage the S.I. and sales activity pertaining to their project to ensure
      292 words
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      Lock icon Page 6 Advertisements Column 2
      24 6 Looking for a forum to talk stocks? Chatlme is me place to fce Find us at http //iol ctos com so/ 88 DBS BANK
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  • SINGAPORE news
    • Article
      Lock icon White-knuckle rides at new park
      405 7  -  NTUC theme park at Pasir Ris to open its doors later this month By I Soh Tiang Keng ROLLER-COASTERS, pirate ships, go-kart racing and mini-jets will be featured in a Disneyland-style beach park which will open its doors to the public later this month. The
      405 words
    • Article, Illustration
      Lock icon SingTel to be more aggressive next time: COO
      368 7  -  By Jane Cheong SINGAPORE Telecom will work harder and be more aggressive following its failed merger with C&W HKT, chief operating officer Lim Toon said yesterday. "We have actually learned a lot from this experience, and next time we will work a
      SIEW YAW HOONG  -  368 words
    • Article, Illustration
      Lock icon Caution the byword in tracking economic trends
      719 7  -  M =j on the economy liy* Anna Teo THE Singapore economy has, most years, outperformed the official forecast, which is not too surprising as naturally, the Ministry of Trade Industry prefers to err on the side of caution. Private sector economists, mostly more
      Source: Dept of Statistics  -  719 words
    • Article
      Lock icon NSTB to put US$20m in local venture capital fund
      120 7 THE National Science and Technology Board (NSTB) will place US$2O million (5534.4 million) with Spring-board-Harper Technology Fund, the local venture capital fund said in a statement yesterday. The money comes from the NSTB's US$l billion Technopreneurship Investment Fund (TIF) which aims
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    • Article, Illustration
      Lock icon True objectives of Redas Web site misunderstood
      412 7  -  ITCTWbag Ho Wing Yin Executive Director Real Estate Developers' Association of Singapore WE refer to your column "Why a Redas Web site is a bad idea" (BT, Feb 29). The column seems to be written from a narrow perspective without trying to understand
      412 words
    • Article
      Lock icon Lee & Lee ends arrangement with England's Norton Rose
      409 7  - Lee Lee ends arrangement with England's Norton Rose Move comes after talks amid plans to liberalise sector By Conrad Raj LEE LEE, the law firm founded by Senior Minister Lee Kuan Yew and his brother Kim Yew, has terminated its association with top English law firm Norton Rose. The move
      409 words
    • Article
      Lock icon Properties are not commodities
      1045 7  -  Ang Peng Hwa Singapore via Internet HONESTLY now, was Lee Han Shih's "Why a Redas Web site is a bad idea" (BT, Feb 29) written by his evil twin or was it another Lee-Han-Shih-joins-Re-das April-Fool's joke one month early? Having known Han Shih for more than
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  • e News
    • Article
      Lock icon E-tailing turnover in US way below estimates
      577 8 WASHINGTON First official indicator shows Q4 e-tail sales at USss.3b, jnst 0.6% of total retail sales FT Reuters THE first official report on retail sales on the Internet has put the level of activity in the US much lower than most private sector
      FT; Reuters  -  577 words
    • Article
      Lock icon Hackers hit govt Web sites through China, say police
      333 8 TOKYO Attacks came after fornm in Japan questioned Nanjing Massacre AFP COMPUTER hackers had broken into Japanese government Internet sites via China in a series of attacks launched since late January, police said yesterday. The wave of cyber-attacks was launched after
      AFP  -  333 words
    • Article, Illustration
      Lock icon Senate panel seeks advice from hacker
      436 8 AP THE US government is seeking advice from one of the world's most infamous computer hackers, just weeks after his release from federal prison, about keeping its own electronic networks safe from intruders. In a bizarre twist to the federal prosecution of Kevin Mitnick,
      AP  -  436 words
    • Article
      Lock icon Internet retailers facing tough times
      692 8 PALO ALTO, California Reuters IT was barely a year ago that investors could not get enough of Internet retail stocks, and new online stores that mimicked Amazon.com were appearing on a daily basis. While few people expected that level of euphoria to last, the industry
      Reuters  -  692 words
    • Article
      Lock icon China.com HK unit goes public at HK$1.88 a share
      235 8 HONGKONG Bloomberg HONGKONG.COM Corp, a unit of the Nasdaq-listed China.com Corp, has set the price of its initial share sale at HK$l.BB, the top end of its proposed range, said a banker at BNP Prime Peregrine Ltd, an arranger of the
      Bloomberg  -  235 words
    • e Briefs
      • Article
        Lock icon China Telecom to spend 10b yuan on Net
        78 8 AFP [SHANGHAI] China Telecom, the country's top telecoms service provider, is planning to spend 10 billion yuan to 20 billion yuan (352.142 billion) this year to beef up Internet infrastructure, it was reported yesterday. The China Daily quoted Ye Xiangdong, the company's
        AFP  -  78 words
      • Article
        Lock icon C&W to set op £100m UK data centre
        69 8 Bloomberg [LONDON] Cable Wireless, the UK's second largest traditional phone company, will spend more than £100 million (***** million) to build a UK data centre, part of the company's previously announced plan to open at least 20 such sites worldwide by 2002.
        Bloomberg  -  69 words
      • Article
        Lock icon E-mail cash payment start-ups merge
        80 8 Reuters [NEW YORK] Start-up firms Xxom Corp and PayPaLcom said on Thursday they agreed to merge, in a move to create the No 1 US provider of electronic cash payments through E-mails. The companies said they have around 600,000 people who use their free service
        Reuters  -  80 words
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  • REGIONAL news
    • Article, Illustration
      Lock icon Bangkok Bank seeks approval to sell shares
      656 9 BANGKOK Reversing earlier decision, it plans to double registered capital to 40b baht Bloomberg IN a move which unnerved the stock market yesterday, Bangkok Bank pel, Thailand's biggest bank, said it would ask shareholders at a meeting in April to approve a plan
      Bloomberg  -  656 words
    • Article, Illustration
      Lock icon Before going to the Thai Senate polls...
      56 9 [BANGKOK] Two Thai men check voter lists at the Bangkok metropolitan office yesterday before today's Thai Senate election. Thailand's voters will give a crucial first test to a new constitution framed in a bid to purge the rampant corruption and vote-buying which has
      AFP  -  56 words
    • MARKET moves
      • Article
        Lock icon Newsprint worries hit newspaper groups
        141 9 SHARES of the three main listed newspaper companies ended weaker this week over fears that a doubling of tariffs on imported newsprint from Feb 1 would add to their operational costs. The stocks tumbled earlier this week as concerns that the recent Budget's increase of
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      • Article
        Lock icon Berjaya up on news of Dijaya buyout
        147 9 PUNTERS piled into shares of the Berjaya Group yesterday following news that its owner Vincent Tan was buying into listed Dijaya Enterprise with a view to making the company its IT vehicle. Dijaya, previously controlled by Vincent Tan's younger brother Danny Tan, will
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      • Article
        Lock icon Pilecon excites with IT ventures
        94 9  -  Compiled by Diana Oon Abdullah ENGINEERING group Pilecon saw its shares rise yesterday after news reports said it was getting a major IT contract and would also be taking a major stake in a private software company based in the Multimedia Super Corridor. Pilecon shares
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    • Article, Illustration
      Lock icon Gus Dur faces challenge over US$1.3b loan scandal
      542 9 JAKARTA Bloomberg A US$l.3 billion (552.2 billion) loan scandal involving Indonesia's biggest textile magnate, Marimutu Sinivasan of the Texmaco Group, is turning into a major challenge for President Abdurrahman Wahid's four-month-old government. Mr Abdurrahman,, who came to power pledging to *ad j
      Bloomberg  -  542 words
    • Article
      Lock icon Philippines scraps 2-tier borrowing rate scheme
      452 9 MANILA Move effectively raises overnight loan rate Reuters THE Philippine Central Bank effectively raised its overnight borrowing rate yesterday by scrapping a scheme of lower rates for higher sums of money deposited with it. The move fell short of market forecasts that authorities would
      Reuters  -  452 words
    • Article, Illustration
      Lock icon Manila to probe firm linked to ex-finance secretary
      262 9 MANILA Wincorp allegedly collected public funds without a licence Bloomberg THE Philippine central bank said it will probe Westmont Investment Corp, an investment firm linked to former finance secretary Edgardo Espiritu and his family, for allegedly gathering investment funds from the public
      Bloomberg  -  262 words
    • Article
      Lock icon Philippine minister, 3 others sued for graft in airport deal
      337 9 MANILA Govt stands to lose 100b pesos under the deal: complainant AFP THE Philippine transportation minister, a friend of President Joseph Estrada, and two others were sued yesterday for graft over an allegedly anomalous deal involving expansion of Manila's international
      AFP  -  337 words
    • Article
      Lock icon Winner of Taiwan phone deal to be named this month
      305 9 TAIPEI Reuters TAIWAN would announce later this month the winners of a bid to supply the island's first private fixed-line telephone network costing billions of dollars, a telecommunications official said yesterday. A screening committee comprising government officials and scholars would
      Reuters  -  305 words
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  • REGION world
    • Article
      Lock icon China Everbright, Bank of China execs doubt merger reports
      427 10 BEIJING Move to beef up bank ahead of China's WTO entry: daily Bloomberg BANK of China and China Everbright Holdings declined comment on reports they will merge, although executives at the companies said they doubted a corporate marriage would make any
      Bloomberg  -  427 words
    • Article, Illustration
      Lock icon Sotheby's profits drop, big probe costs expected
      634 10 NEW YORK Q4 profits down 10.6%; fee-fixing scandal conld hurt fntnre earnings Reuters SOTHEBY'S Holdings Inc reported on Thursday that its 1999 fourth-quarter profits fell by more than 10 per cent and warned that future earnings could be hurt by the feefixing scandal
      Reuters  -  634 words
    • Article, Illustration
      Lock icon Setting hearts aflutter
      52 10 [BEIJING] It wasn tjust the flags that were flapping wildly in the wind here yesterday during the opening session of the Chinese People's Political Consultative Conference (CPPCC). Popular actress Gong Li (right) infected a dose of glamour and excitement when she rushed in to attend the session.
      Photos: REUTERS  -  52 words
    • Article
      Lock icon HK public spending to rise 5.8%
      355 10 HONGKONG Total bill for year to March 2001 will cometoHKs2B7b Bloomberg HONGKONG estimates that state spending would rise 5.8 per cent in real terms this financial year from last year. The government said it would spend HK$243.7 billion (S$54 billion) for the year ending
      Bloomberg  -  355 words
    • Article
      Lock icon China banks told to boost mortgages
      185 10 BEIJING Central bank wants lending to rise by 100b ynan this year Reuters CHINA'S central bank has told commercial banks to boost their mortgage lending by 100 billion yuan (5520.7 billion) this year, the China Securities reported yesterday. Outstanding mortgages of state-owned commercial banks
      Reuters  -  185 words
    • Article
      Lock icon Trading in index futures soon on Indian exchanges
      136 10 BOMBAY Reuters TRADING in index futures on Indian exchanges could begin within six to eight weeks following the government's decision to lift a ban on forward contracts, the chairman of the Securities and Exchange Board of India (Sebi) said. Sebi would give
      Reuters  -  136 words
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  • WORLD news
    • Article
      Lock icon US Feb unemployment rate rises to 4.1% with fewer jobs added
      475 11 WASHINGTON Earnings grow slower; less pressure seen on Fed to raise interest rates Bloomberg THE US jobless rate rose to 4.1 per cent in February as businesses hired the fewest number of workers in nine months, the government reported
      Bloomberg  -  475 words
    • Article, Illustration
      Lock icon Palm debuts at 283% above IPO price
      764 11 NEW YORK It overtakes parent 3Com in market cap in the most valuable corporate spinoff Bloomberg, FT THE most avidly awaited new stock offering on Wall Street this year got off to a flying start on Thursday, as investors briefly drove the value
      Bloomberg,; FT; AP  -  764 words
    • Article
      Lock icon Dresdner raising 1b euros to fund buyouts
      194 11 LONDON Bloomberg DRESDNER Bank, Germany's third-largest bank, has said it is raising at least one billion euros (Ssl.6 billion) to invest in European private equity, boosting its commitment by about two-thirds in search of richer returns. Dresdner will use the money to establish
      Bloomberg  -  194 words
    • Article
      Lock icon Windows 2000 sales better than expected: Microsoft
      291 11 REDMOND, Washington Reuters SOFTWARE giant Microsoft Corp said on Thursday that sales of Windows 2000 were "significantly" higher than expected, shrugging off worries that its new flagship computer operating system would receive a lukewarm reception. Around half a million copies of Windows 2000
      Reuters  -  291 words
    • Article
      Lock icon Volcker amazed by US economy's vigour
      356 11 TOKYO Bat he's concerned abont huge current account deficit Reuters AFP FORMER Federal Reserve chairman Paul Volcker said yesterday that he was amazed by the continuing vigour of the US economy but was concerned about the widening current account deficit. "I worry over time
      Reuters; AFP  -  356 words
    • Article
      Lock icon NASD in talks with NYSE about merger
      229 11 NEW YORK Bloomberg THE New York Stock Exchange and the National Association of Securities Dealers have discussed merging as they face increasing competition from electronic markets, the Wall Street Journal Interactive Edition reported, citing people with knowledge of the talks. NASD and Nasdaq
      Bloomberg  -  229 words
    • WORLD Watch
      • Article
        Lock icon Summers' anti-money laundering bid
        83 11 Bloomberg [WASHINGTON] US Treasury Secretary Lawrence Summers has asked Congress for power to block international banking transactions as part of the government's war against money laundering, a Treasury official said. The proposal would give the Treasury Department broad authority to investigate ami forbid transactions between US
        Bloomberg  -  83 words
      • Article
        Lock icon Germany mulls next move on IMF bid
        90 11 Reuters [BERLIN] Germany said yesterday it would discuss with its European Union partners on what to do next after its candidate to head the International Monetary Fund, opposed by the US, foiled to win broad support Government spokeswoman Charima Reinhardt told journalists that
        Reuters  -  90 words
      • Article
        Lock icon Schroders' profits up 46% at £245m
        113 11 Bloomberg [LONDON] Schroders pic, which is selling its investment banking unit to Citigroup Inc, said its profit last year rose 46 per Cent, as assets under management increased by one-fifth to £143 billion (SS3BB billion). Earnings rose to £245 million, or 82.5 pence a
        Bloomberg  -  113 words
      • Article, Illustration
        Lock icon Bush set to thrash McCain on Tuesday
        107 11 Reuters [LOS ANGELES] Texas Governor George W Bush is headed for a "Super Tuesday" triumph over Arizona Senator John McCain by carrying most of the states holding Republican ballots, according to a Reuters/MSNBC poll of eight states released yesterday. The poll found Mr
        Reuters; AFP  -  107 words
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      510 11 I NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298^ SIN YANG ENTERPRISES PTE LTD (Incorporated in the Republic of Singapore) (MEMBERS' VOLUNTARY WINOtNG-UP) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to section 308(1) of the Companies Act. Cap. 50. a Final Meeting of the
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  • FINANCE & commodities
    • Article
      Lock icon Futures close higher in dull trading
      156 12  -  SGX Derivatives TraMn&Reports BflSCX Singapore Index Edward Cheung, Jardine Fleming THE Singapore stock market yesterday finished mixed as gains in electronics stocks were offset by weakness in blue chips. Trading remained in a tight range amid a continuing lack of fresh leads. The Straits
      156 words
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      Lock icon Futures rise in tandem with cash market
      168 12  -  MS& Taiwan fixtures Seow Hock Hin Refco Singapore THE TWSE Index yesterday rose 44.21 points or 0.45 per cent to 9,588.03 on turnover of NT$llB.4B billion, or 34 per cent below the daUy average in the past three months. Technology and telecommunications shares
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    • Article
      Lock icon Oil flirts with 9-year highs as Opec fails to calm worries
      357 12 ENERGY REPORT Reuters [LONDON] Oil romped around nine-year highs yesterday as Opec assurances of extra production failed to calm worries over an increasingly tight US petrol market Dealers said they would need details of planned hikes in Opec output
      Reuters  -  357 words
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      Lock icon CURRENCY REPORT
      320 12 Reuters New York THE dollar climbed against the euro yesterday as US asset markets applauded a sof-ter-than-expected US employment report that soothed fears the robust economy is growing out of control. The greenback seesawed briefly and headed to fresh session highs against Europe's single currency after the government
      Reuters  -  320 words
    • Article, Illustration
      Lock icon Untitled
      1215 12 DfTERBAJTC i?w088 RATES Mar 3 Ew Of tw NpWl 1m tt» ttt *2$ fat t» N« SS UK Sfr MTS la* jg Australia 0.884 4.178 0.628 4.121 1229 4723 26.*****222 0.653 6408 2.306 1241 ***** 24.806 1045 3J99 LOIO 18.650 ***** 0485 0407 <**• 1-131 5499 0.711 4.662 1.390 5443
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      1769 12 S1C0M FUTURES Mar 3 1 8UMOlMv«ctoM|«*U0M> RSS1 COVTtACTtt CMts/kf) CtoM VotaM Op«fl MmO Mg Law Stt (t—w) Iwtarwt Apr 00 cue 200 WyOQ 122.50 50 J*00 125.50 Jrifi*Q0 129.00 BS3C0lf!MCT<tB«*/k*> VotaM OpM Xotfc HI# Uw Sott (to—«) Inttfst Air 00 ***** 2005 **00 70.50 69.75 70.50 620 2235 Jun 00
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  • STOCKS east asia
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      Lock icon Telecoms and property stocks boost HK market
      2829 13 HONGKONG AFP Q Hang Seng +345.43 HONGKONG share prices rose 2.1 per cent yesterday with buying of telecoms and property stocks on the back of the stronger US market, dealers said. "The market rises on the influence of Wall Street," said Howard Gorges,
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      Lock icon CHINA
      961 13 Reuters P Shenzhen B Index -OJS SHENZHEN'S hard currency B shares closed slightly lower yesterday as an upward trend earlier this week ran out of steam despite new indications of official commitment to supporting the stock market. But domestic A shares ended higher after official media reported the first
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  961 words
    • Article
      Lock icon High-tech issues under pressure
      1993 13 TOKYO AFP Qffikka22S -137.57 SHARE prices in Tokyo closed 0.7 per cent lower yesterday with high-tech issues coming under pressure on concern about a potential plunge on Wall Street, brokers said. The key Nikkei-225 index eased 137.57 points to close at 19,927.54, slipping below the crucial
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      Lock icon TAIPEI
      345 13 AFP PWPMg TAIWAN share prices closed 0.5 per cent higher yesterday on buying of telecommunications issues, dealers said. "There is strong buying interest in telecoms shares as investors take note of rallies in the US and European markets, where telecoms stocks have been the main drivers," said Wu Hui-chen,
      AFP  -  345 words
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  • STOCKS klse
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      8970 14 INDUSTRIALS CwMMMf predicts 2000 Last Vai Day Net Cap Hlqb Law riimy Sate -OOP H%> Law p/t 420 310 Ajinomoto 374 unch 4 374 370 23.7 151.6 158 91 Anqkasa 115 7 470 115 103 169.6 452 290 Apollo Food Hlq 434 10 89 434 420 10-3 173.6 »7S 2700
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      Lock icon Shares rise on late bargain-hunting
      440 14 AFP, AFX-Asia Q Composite Index *6.49 MALAYSIAN shares closed 0.7 per cent higher yesterday on a late wave of bargainhunting after recent faUs, dealers said. The Kuala Lumpur Stock Exchange Composite Index closed up 6.49 points at 948.31 and the Second Board Index gained 15.54
      AFP,; AFX-Asia  -  440 words
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  • SGX clob & regional stocks
    • Article
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      3398 15 BONDS WARRANTS *1 Vnts fraa/ U>*j JJ*" J" 1 jw »»i Cmt bar Mk Mi Lea Mm tmmm tab (KM) M» Lot k*« Mhl Mm MhlU. Mm HW «Mrta*2 Ml '04 11.5 3160 'Acer ******1 US$ 44 unch 39 44 44 44 44.5 331 1 156 69 2 66 16
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      Lock icon SEOUL
      308 15 AFP Fl Composite Index +OJ7 THE Composite Index yesterday closed up 0.17 of a point at 894.83. Volume was 309.1 million shares worth 4.5 trillion won with falls leading rises 581 to 273 AFP ml DM Arum Semi ***** 1600 Brain Tacti I66S 5 Central Bank 2560 SO ClMMCwnn
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      Lock icon MANILA
      283 15 AFP Fl Composite Index +29.31 BUYING in blue-chip and information technology stocks pushed Philippine share prices 1.8 per cent higher yesterday, brokers said. The Philippine Stock Exchange Composite Index rose 29.31 to 1,696.75. Volume was 6.9 billion shares worth two billion pesos. —AFP Pew COOP) MRC Allied 0.68 0.02
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      Lock icon WELLINGTON
      282 15 AFP QNZSE-40 -18.69 NEW Zealand's share market yesterday dropped to its lowest close in more than a year as Telecom Corp's slide continued and offshore investors sold out. The NZSE-40 Capital Index was down 18.69 points or 0.9 per cent at 1,975.64 on turnover of NZ$B7.5 million. —AFP 3
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      Lock icon SYDNEY
      590 15 AFP Q All Ordinaries +5.3 AUSTRALIAN share prices hit another record high yesterday, rising 0.2 per cent as local investor thirst for media heavyweight News Corp remained unquenched, brokers said. The All Ordinaries Index was 5.8 points higher at 3,225.80. The All Industrials rose 16.9 points to 5,759.60, while
      AFP  -  590 words
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      Lock icon BANGKOK
      763 15 AFP P SET Index -&26 THAI stocks slipped 2.1 per cent yesterday as investors sold banking issues on concern over the outcome of a bankruptcy case against Thai Petrochemical Industries, dealers said. The benchmark Stock Exchange of Thailand Index closed down 8.26 points at 383.13. Advancers led decliners 147
      AFP  -  763 words
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      Lock icon JAKARTA
      688 15 AFP Q Composite Index +2.02 INDONESIAN share prices closed 0.4 per cent higher in volatile trade yesterday with a late rebound in select largecap stocks offsetting early foreign selling, dealers said. An analyst with Trimegah Securities said the market recovered from early losses on the back of a technical
      AFP  -  688 words
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  • Article
    Lock icon STOCKS sgx
    8941 16 SGXMADIBOARD Transaction date: Mar 3 Or Or Mm Lart Vel Day Last Ouote Wv W» YW Net Cap Avg HUfc Lew MW« Ci—uy hH fOOO) HH> Lew Buyer »e8or CV H |3i Mo MIHT1 —mill 182 69 m e 1000 Acma 50c 135 -3 174 139 131 134
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  • The Arts
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      Lock icon Fusing PAST and PRESENT
      1529 17  -  The ancient-modern blend courses through Adelaide's 21st arts festival programme, farvathx nayab picks out some noteworthy shows to catch PARVATHI NAYAR Ancient themes and modern inspirations. Whether it's a Singaporean take on Shakespeare or Greek tragedy reworked, this interplay of past and present is an eye-catching
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      Lock icon Pass the popcorn and programme, please
      845 18  -  By Parvathi Nayar LIKE Water For Chocolate's heroine whips up dishes with ingredients like desire and pain; Mickey Rourke seduces Kim Bassinger with honey, jam and a chili in 9Vi Weeks; the harsh beauty of Van Gogh's The Potato Eaters. Food is a sensory
      845 words
    • Article, Illustration
      Lock icon Ensemble 415 brings early music to life
      556 18  -  CONCERT REVIEW The award-winning group puts np noteworthy show despite dry acoustics of auditorium By] P Y Van IN the last few years, Singapore has been the venue for a growing number of early music groups, including the excellent Concerto Koln and Rinaldo
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    • Article, Illustration
      Lock icon THE PROGRAMME
      1528 19  -  Compiled by M Yasotha,Parvathi Nayar MUSIC Singapore Symphony Orcbostra Classic Hits from the Screen The power of movie music never fails to draw the imagination, bringing visual and aural images to new heights in the concert hall. SSO's associate conductor Bart Folse leads another two evenings of popular
      1,528 words
    • Article, Illustration
      Lock icon SPOTLIGHT
      223 19  -  By Felicia Yap 11m B—IA stripper with a mysterious past, a failed writer looking for a muse, a doctor with an appetite for cybersex and a compulsively faithless photographer all caught in a web of intrigue. Plot and Flaym Come Closer to love, lust and betrayal when this brutal
      223 words
    • Article, Illustration
      Lock icon Theatre in his blood
      906 20  -  Haresh Sharma is synonymous with Singapore theatre and aaromlye is witness to the launch of his first international publication AARON LYE SIMPLY mention Singapore theatre, and more often than not, the name of Haresh Sharma will pop up somewhere along the line. And rightly so. As
      906 words
    • Article, Illustration
      Lock icon Light fare for the ride, with music piped in
      624 20  -  THEATRE REVIEW But TNS'journey through a teenager's thoughts fails to deliver depth By\ Parvathi Nayar ITS the sort of teaser-trailer that catches your attention a play staged on a moving bus. The Necessary Stage (TNS) has recently been looking at non-conventional
      624 words
    • Article
      Lock icon March lineups for young and young-at-heart
      628 20  -  By] Koh Huiting IN the coming month of March, kids and adults alike are going to be treated to a new and exciting series of children's performances. Both the Singapore Symphony Orchestra (SSO) Ladies' League and Act 3, Singapore's first theatrical company, will present
      628 words
    • Article
      Lock icon Indian percussion maestros set to wow audience
      364 20 Tabla master Zakir Hossain and entourage of top musicians will be in town later this month FROM Bombay to London to Chicago, percussion legend, Ustad Zakir Hussain, draws sellout crowds with his brilliant, explosive performances on the tabla. The tabla, a traditional percussion
      364 words
    • Article
      Lock icon Prayer to mark Man's journey through Time
      415 20 EARTH music. Spirit dance. Universal prayer. All these are phrases that can be used to describe Puja A Celebration of Time. Essentially a collaborative work between the Asian Civilisations Museum (ACM), local theatre group Asia in Theatre Research Centre (ATRC), and home-grown music
      415 words
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      Lock icon TO THE BEAT
      1237 21  -  Some adventurous Singaporeans have been bitten by the bug, says FELICIA tap. And they re shaking off their dance-floor jitters and bopping to the pulsating rhythms of swing FELICIA YAP EVER had the jitters when bugged to work up a storm on the dance floor? Not for
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      126 17 If you appreciate the finer things in life, you'll love the OCBC Arts Card* because it helps to support the local arts scene. Every time you use the card, we pledge a percentage of the amount to help musicians, painters, actors and dancers in Singapore stand on their feet. In
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      65 19 I I H fl V JK wL j wF JK I A T fl j| I i 1 Mm A A K I I v A 1 I I |H 111 hJ I I A Tfl i I Prudential Assurance Company Singapore (Pte) Limited 30 Cecil Street rflO-OI Prudential Tower,
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  • Page 21 Advertisements
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      234 21 /[rt must constantly fa on the menu, trawl dnA seek neiv environments" ,/l mtrolse \Jott^.rA WfflMm Get moving to the Singapore Art Museum and transport yourself to Vollard's Paris I and witness the birth of avant-garde art in Europe. Use the contest form to get a 50% discount on the
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  • Page 22 Advertisements
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      300 22 "Tunch" is the best for lunch and high tea rolled into one. Which means longer serving hours and even more scrumptious spreads. tt Tunch w from 12 noon 4.30pm $15.80 (Adult) $11.80 (Child) "Tunch Karaoke" from 12 noon Bpm #21.80* (Adult) $17.80* (Child) "/•ciiunr tf one iukUkl tfami Stapstwa Tbtwe
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      33 22 |^^E3ESE3E3BEB3SS^ COURT DINING At Pine Court Chinese Restaurant LUNCH 12 noon 2.30pm DINNER 6.30pm 10.30pm g|j^. Reservations 831-6262 Mandarin fIQ Su»glomrr—l Witt 333 Orchard Road. Smgapore *****7. Tel: 737 4411 Fax: 732 2361
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  • Page 22 Miscellaneous
    • Miscellaneous
      Lock icon Page 22 Miscellaneous Column 1
      821 22 "ua.ness "Ties, Saturday, March 4, 2000 Central 7 Saturday Night Movie: 8.00 Berita. ~~o<wi AM rontriii' The Undercover Kid. BJO Layar Suria: Balik 1-30 Off The Beaten Track tor's 8,30 America's Funniest Kampung. (r). ftrm ThP World ofPeter Home Video. IOJOSatu Jam Bersa- 2UK> To 6.00 am: Real-time o\ IrKKirr«H
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    • Miscellaneous
      Lock icon Page 22 Miscellaneous Column 2
      297 22 CRYPTIC CROSSWORD ACROSS from the home counties (5) 1 Explain where the lost dog came 6 Check study on stress (9) from (7) 7 Dead to the world (7) 5 The mace in a form still used as a 8 His choice will get cross (7) weapon (7) 14 A
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