The Business Times, 19 May 2000

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Microfilm: NL21805
Total Pages: 22
1 22 The Business Times
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  • Title Section
    Lock icon Masthead
    69 1 H v v v y/ 7 I I I i I I I I I I I I I i 1 H BJ H H H J H V I H J I I I I J I B I i I I i I I s/ I Bj JL
    69 words
  • Article
    Lock icon MARKET SUMMARY
    51 1 STOCK MARKET INDICES Thursday Change KLSE COMP Closed NIKKEI 17,031.63 ***** HANG SENG 1022.60 -***** SET INDEX 343.39 -6u88 JAKARTA COMP —Ooeed MANILA COMP __1,***** 1169 TAIPEI WPI #,***** +1.47 SEOUL COMP ***** -1418 CLSA CHINA B 335.54 +157 AUSTALLORD ***** -281 NASDAQ *****4 -«017 SAP 500 1,*****
    51 words
  • Article
    Lock icon FINANCE
    77 1 FOBEX BATES IfSS SS USS 1730 £(USI/S$ per 1.496 1§91 El HO(TS$/S$/E) 0.896 1549 DM 1184 0.792 YEN 109J 1583 RM 3.800 0.455 HKS 7.790 0522 BART 3&2S 0.044 RUPIAH 8,430 0.021 'Stto lOOutua PRIME BATES SINGAPORE* 5.80 KUALA LUMPUR 7.67 JAKARTA ».M BANGKOK 9,50 MANILA 11.00 HONGKONG 8.50
    77 words
  • Article
    Lock icon Private property market rebounds with $24b sales in '99
    619 1  -  Amount, which inclndes exec condo transactions, is more than donble 1998's $10.4b By Lilian Ang [SINGAPORE] A staggering $24.15 billion worth of private housing units changed hands last year, taking the market to just a shade off its peak in 1996
    619 words
  • Article
    Lock icon MSCI lifts S'pore market cap by surprise US$10b
    767 1  -  No banks dumped as feared; 5 newcomers include Chartered Semiconductor Bu Siow Li Sen [SINGAPORE] THE latest review of the widely-followed Morgan Stanley Capital International stock market indices has produced a few surprises for Singapore not least of which is a major
    767 words
  • Article, Illustration
    Lock icon One fruit juice with attitude, please
    855 1  -  Jnice bars are fast becoming Singapore's new 'in' thing By' Tan Su Yen [SINGAPORE] "Coffee is passe, juice is in," declares Ryan Wong, one of the three owners of Übar, a trendy new juice bar at Pacific Plaza on Scotts Road. Mr Wong adds:
    ARTHUR LEE  -  855 words
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      196 1 mams Exec Money Clicking for funds may be more economical, but the personal touch still matters. EM 10 Your Money: Take investor relations seriously. EM 9 Exec Lifestyle Banking on antiquities. EL 1 Mitsubishi Pajero: black tie or black leather, whatever the pleasure. EL 6 People Microsoft co-founder Paul Allen
      196 words
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      19 1 Cheung Kong dropped from MSCI, Next Pg Chartered Semiconductor raises $lb,Pg 4 M'sia reinstated in MSCI 9 Pg 3
      19 words
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      50 1 Upgraders still a strong force, Pg 6 ECm make up 3% of '99sales, Pg 6 Jnioe up your life, Exec Lifestyle EL 3 The Ministry of Trade and Industry will release the first quarter Economic Survey of Singapore this morning. Full details will be available, after around Bam, at .com.sg
      50 words
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  • NEXT page
    • Article, Illustration
      Lock icon Cheung Kong's plunge drives Hang Seng lower
      1336 2  -  HE index at year low; MSCI dropping Li Ka-shing firm from its index From Quak Hiang Whai in Hongkong HONGKONG'S key Hang Seng Index slumped 505.2 points or 3.4 per cent to a year's low of 14,322.5 yesterday brought down mainly by the
      REUTERS  -  1,336 words
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      166 2 1 I WON'T BE AWAKE FOR ANOTHER when wqs the last time you got up at 4 a.m. to play softbalf? Golf tlj r> c c um in c isn't just a game, it's on obsession. Which is precisely the point I HKfcfc rIUUrO behind the new SuperSteel'Metolwoods from Taylor
      166 words
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      20 2 Li to sell 52 in Costa del Sol to Cheung Kong. Pg 4 MSCI boosts CyberWorks' hopes, Pg 13 I
      20 words
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  • MSCI reweighting
    • Article
      Lock icon MSCI confirms KL's re-entry
      466 3  -  Move will put Malaysia back on radar screens of foreign fund managers, but huge influx of funds not expected From Eddie Toh in Kuala Lumpur MALAYSIA is back in the widely-tracked Morgan Stanley Capital Internationa] indices but market players do not expect a huge influx of
      466 words
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      306 3 si's f TIMNS EIAOMRS PTE LTD Eurokars Centre. 12 Sungei Kadut Avenue. Singapore *****8. Tel: 363 3003 Fax: 369 3003 Showroom Hours: Monday Friday 8.30 am 5.30pm. Saturday 8.30 am 4pm. Closed on Sunday Public Holidays. City Centre. 29 Leng Kee Road. Singapore *****9 Tel: 251 6888 Showroom Hours: Monday
      306 words
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  • SINGAPORE companies
    • Article
      Lock icon CSM raises US$1b from IPO; Asia's 3rd this year
      339 4  -  Greenshoe option exercised, another 20.265 m shares issued in global offer By Catherine Ong CHARTERED Semiconductor Manufacturing Ltd (CSM) became the first company in Singapore and the third in Asia, to raise more than US$l billion (Ssl.7 billion) this year after
      339 words
    • Article, Illustration
      Lock icon Li to sell 52% in Costa del Sol to Cheung Kong
      390 4 Li Ka-shing to get shares worth HKsl.4Bb in HK-listed flagship AP HONGKONG tycoon Li Kashing has agreed to sell 52 per cent of a personally-owned property development project in Singapore to his Hongkonglisted flagship, Cheung Kong Holdings. Mr Li
      AP  -  390 words
    • Article
      Lock icon Merrill to issue 10m PCRD call wrts
      188 4 MERRILL Lynch International Is proposing to issue 10 million American-style call warrants in Pacific Century Regional Developments Ltd (PCRD) at $0.2836 per warrant. Every 10 warrants will initially entitle the holder to buy one share at an exercise price of $24.9826 from May
      188 words
    • Article
      Lock icon Analysts expect IDD rate falls to crimp SingTel's profits
      525 4  -  In contrast, SIA is expected to increase net earnings by a significantly higher 14.3% By Teh Hooi Ling REFLECTING their different fortunes, Singapore Telecom is expected to report lower earnings next Monday and Singapore Airlines significantly higher net profits today. The
      525 words
    • Article
      Lock icon CCL buys 3.9% of Astra from Lazard at US$50m
      306 4 Bloomberg CYCLE Carriage, Singapore's third largest auto distributor, will pay US$5O million (5186.5 million) for most of Lazard Asia Fund's stake in PT Astra International, Indonesia's largest carmaker. Cycle Carriage (CCL) said in a statement yesterday that it would purchase 3.9
      Bloomberg  -  306 words
    • Article, Illustration
      Lock icon New product to drive Trek 2000 revenue
      483 4  -  By. Andrew Wee TREK 2000 International Ltd, an electronics engineering company that will soon be listed on Sesdaq, is expected to see a significant boost in its revenue from a newly launched high-capacity computer storage product Industry sources said the company is due
      FILE PHOTO  -  483 words
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      80 4 On Sundays, our view becomes doubly good. >|k jf X I i V v -> A commanding view, exquisite Veuve Clicquot or La Grande Dame Champagne, a sumptuous New Orleans spread, and all that jazz. Make a toast to unforgettable experiences, enjoyed only when you're at the top. Unforgettable Sundays
      80 words
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      202 5 S|l Van Heusen,Thomas Smith Goldlion Jfe Long-sleeved Business Shirts $69.90 each rmM ttS N U ws29.9Q ea ch Turnberry $89.90 i; :r v|l Brooksfield BMPgIFW Trackwear /<S>v $49#9^^h AL Jr CffilJlilfll Only At Robinsons Palmer 00 Short-sleeved Polo 16.90 HMHB Grassland ll^B I 1 J John Curtis a&a _BB|G^^^|HP^B lof
      202 words
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  • SINGAPORE news
    • Article, Illustration
      Lock icon Upgraders still a strong force, buying $7.7b of properties
      682 6  -  '99 figure is a third of private boosing deals, down from 1998's 50%, but higher in absolute term Reports by 1 Lilian Ang HOUSING and Development Board (HDB) upgraders, known for the key role they play in supporting the private housing
      682 words
    • Article
      Lock icon ECs make up 3% of private home sales in '99
      371 6 FTVE years after executive condominiums (EC) were introduced to bridge a gap between public and private housing, this segment of the market remains small. A recent report by DTZ Debenham Tie Leung showed that in 1999, EC sales made up
      371 words
    • Article
      Lock icon Scrap rules on remisiers' cut and high transfer fees
      393 6  -  MAIUSimHi Jai Tan THE stockbroking industry is going to have negotiable commissions from Oct 1. A free market for almost any service or product is good for consumers. But there is one area of the stockbroking industry that has not been
      393 words
    • Article
      Lock icon 34 Hillington Green units sold since soft launch
      289 6 HONG Leong Holdings has sold 34 units of its Hillington Green condo at Hillview Avenue since a soft launch last weekend at an average price of $625 per square foot after an 8 per cent discount. The remaining units in the first
      289 words
    • Article
      Lock icon GIC pays US$50m for 2% of India's Satyam Infoway: report
      160 6 AFX-Asia Bloomberg [BOMBAY] The Government of Singapore Investment Corp (GIC) has acquired a 2 per cent stake in Nasdaqlisted Indian Internet firm Satyam Infoway Ltd for US$5O million (5585.6 million) at US$36 a share, the Business Standard reported yesterday. The
      AFX-Asia; Bloomberg  -  160 words
    • Article, Illustration
      Lock icon Catering sales volume up 3.8%
      309 6  -  I'J 3 on the economy F&B By Marissa Chew THE catering trade performed better in the first quarter, with volume of sales rising 3.8 per cent in the first quarter compared to the same period a year ago. But growth took place mainly in the
      Source: Dept of Statistics  -  309 words
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      171 6 Extravaganza the Gordon Have an unforgettable Provencal experience at the famed Gordon Grill from the IO to 28 May 2000. Bp The bastion of fine Scottish and Continental cuisine, p Gordon Grill now brings you exquisite Provencal dining as well. Inaugurating 19 joyous days of sophisticated wining ■RR[ 'jfe» dining,
      171 words
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      111 7 Ci n dy Crawford's Choice i w®| J M m P &2W 9 *9 f I Lyl Ha y' «j41. 2 SS»fk:l r Kii.-hJS&t, affi* ■••••tsySl*.-'.--w v;' ifii? r;v ii nrr't f 7 ilHfe** 1 .^■KI 'u*;3w f wN^Hw r &iwmiHm F tm^^M.*' MjfM L PIIP-^JPIF Designed entirely and solely
      111 words
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  • eNews
    • Article, Illustration
      Lock icon 5% or 5m US jobs in high-tech sector
      448 8 WASHINGTON Salaries in this sector are 82% higher than private sector average FT THE high technology sector accounted for five million jobs or 5 per cent of all private sector employment in the US in 1999, with average salaries 82 per cent
      FT; FILE PHOTO  -  448 words
    • Article
      Lock icon TIM in Net services deal with Yahoo Europe
      309 8 MILAN Telecom Italia Mobile clients to get WAP services Reuters EUROPE'S second biggest mobile phone operator Telecom Italia Mobile (TIM) said yesterday it has forged an accord with Yahoo Europe to provide Internet services to its clients. "TIM has made an accord
      Reuters  -  309 words
    • Article
      Lock icon Lycos falls 21% on unease about deal with Terra
      500 8 NEW YORK Bloomberg SHARES of Lycos Inc, which agreed to be bought by Spain's Terra Networks SA for US$l2.5 billion (5121.6 billion) in stock, fell 21 per cent on Wednesday on investor concern about owning foreign shares and price swings in
      Bloomberg  -  500 words
    • Article
      Lock icon SocGen, Cognotec to jointly develop service
      487 8 PARIS Bloomberg SOCIETE Generate SA, France's third-largest bank, and Cognotec, a Dublin-based foreign exchange software company, said they are working together to develop an online currency dealing service accessible by mobile phone. By year-end, Societe Generale's US unit will offer clients access to the
      Bloomberg  -  487 words
    • Article
      Lock icon US Web sales at US$2.6b in April, poll finds
      151 8 ROCHESTER, New York Bloomberg US shoppers spent an estimated US$2.6 billion (554.5 billion) on the Internet in April for goods including airline tickets, computers, books and music, a survey of almost 35,200 Web users found. The poll by US Bancorp Piper
      Bloomberg  -  151 words
    • Article
      Lock icon Chinadotcom expects profit by year-end
      370 8 HONGKONG Rising sales of Internet services, increased advertising revenue cited Bloomberg CHINADOTCOM Corp, an operator of Asian news and information Web sites, expects to earn a profit by the end of next year because of rising sales of Internet services and increased advertising revenue. "We
      Bloomberg  -  370 words
    • Article
      Lock icon Boo.com goes bust in 1st big British dotcom failure
      315 8 LONDON It collapsed through lack of funds Reuters HIGH-profile online retailer boo.com has collapsed through lack of funds, becoming Britain's first big dotcom failure just six months after its launch. Appeals to investors for a US$3O million (Sss2 million) cash lifeline
      Reuters  -  315 words
    • e Briefs
      • Article
        Lock icon Inter-Alliance to launch online service
        65 8 Reuters [LONDON] British independent financial adviser Inter-Alliance Pic said yesterday that it was launching a new online service giving customers 2,200 investment funds to choose from. Fund Store—which goes live today —plans to expand beyond unit trusts, investment trusts and open-ended investment companies to include
        Reuters  -  65 words
      • Article
        Lock icon Nomura out to lure retail investors
        53 8 Bloomberg [TOKYO) Nomura Securities Co, Japan's largest brokerage, and other online brokers are trying to lure individuals by providing for free the same investment information and news given to institutional clients. Nomura said it started providing stock value and trading volume numbers to individual
        Bloomberg  -  53 words
      • Article
        Lock icon Germany's T-Online nets more users
        72 8 AFP [DARMSTADT, Germany] T-Online, the recently floated Internet services provider of Deutsche Telekom, said yesterday that it was able to extend its lead as the number one Internet portal in Europe in the first three months of the current year. T-Online said the number of
        AFP  -  72 words
      • Article
        Lock icon Aussie, NZ e-tailers to merge
        45 8 Reuters [SYDNEY] Online retailer TheSpot.com.au Pty Ltd said yesterday it planned to merge with New Zealand e-tailer FlyingPig.co.nz. F2 Investments, a 50-50 venture between f2 and Amazon.com Inc, currently holds around 20 to 25 per cent of The Spot. Reuters
        Reuters  -  45 words
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      111 8 Since 1975 our worldwide staff of over 275 multi-disciplined professionals H V" W t IS including lawyers, chartered accountants. sT chartered secretaries and bankers have f k Y P roVlded confidential and cost effective B Jk company formation in all the major low I tax areas including: -1} Incorporation Fees
      111 words
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      10 8 Seattle is pot of gold for IT workers, Pg 22
      10 words
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      302 9 Register as an tefytoje member for AsiaOnelPO Internet tranche. Every day, asiaone.com and zaobao.com have a total of over 2 million page views. They each provide a one-stop source of the region's richest and most reliable sources of information. Once again, we have changed the rules to keep you ahead
      302 words
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  • EDITORIAL & opinion
    • Article, Illustration
      Lock icon Markets' faith in Greenspan could backfire
      854 10  -  bottom line OPINION leon hadar The writer is BT's Washington correspondent THE unsettled reaction by the markets to the move by the US Federal Reserve to increase the federal funds rate by half a percentage point to 6.5 per cent reflects the perception on
      854 words
    • Article
      Lock icon IN OTHER WORDS
      92 10 'When men kill their partners, it is probably an unintended escalation of a quarrel. But when a woman kills her partner, it is more likely she sees it as a last resort to an unacceptable situation.' Alfred Blumstcin a professor of criminology at Carnegie Mellon University, on
      92 words
    • Article
      Lock icon Preparing for a US downturn
      660 10 EDITORIAL POR well over a year now, the US economy has threatened to dampen, if not snuff out altogether, the nascent recovery of the East Asian economies. The feared sharp slowdown has not come, not yet anyway, partly because the US Federal Reserve had, until
      660 words
    • Article, Illustration
      Lock icon Has Japan been betrayed by its manufacturers?
      1181 10  -  Time to reappraise what can or cannot be produced competitively in Japan, say critics By Anthony Rowley The writer is BT's Tokyo correspondent ECONOMIC recovery in Japan remains elusive despite massive fiscal spending and the fact that the Bank of Japan has maintained
      Source: Ministry of Finance  -  1,181 words
    • Article, Illustration
      Lock icon WHAT THE OTHERS SAY
      888 10 BUI on China trade THE most far-reaching vote any US representative will cast this year will take place next week. It will be on the Bill to permanently guarantee that Congress will have no economic leverage to restrain China's internal repression of dissidents or external aggression
      888 words
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  • REGIONAL news
    • Article
      Lock icon Independent advisers back DRB-Hicom merger
      480 11 KUALA LUMPUR Minority shareholders of Gadek (M), Gadek Capital and Hicom advised to accept DRB's offer Bernama PROPOSALS by Diversified Resources Bhd (DRB) aimed at merging the DRBHicom Group have met with approvals from the independent advisers to the minority shareholders of the three companies
      Bernama  -  480 words
    • Article
      Lock icon DRB-Hicom close to signing contract for electric rail link
      276 11 KUALA LUMPUR Group also set to take over vehicle registration and licensing, says chief Bernama THE DRB-Hicom Group is close to signing an agreement to build an electrified doubletrack rail system for the Rawang to Ipoh and the Sentul to Batu
      Bernama  -  276 words
    • Article, Illustration
      Lock icon A giant among Buddhists
      44 11 [IPOH] Hundreds of devotees unfurling a giant canvas painting—measuring 20 metres by 60 metres —of Lord Buddha to mark his birth and enlightenment during yesterday's Vesak Day celebration at Buddhist Temple in Ipoh, 200 km north of Kuala Lumpur. AP
      AP  -  44 words
    • Article
      Lock icon Telekom buys 15% stake in project
      324 11 KUALA LUMPUR Reuters MALAYSIAN telephone utility Telekom Malaysia said on Wednesday it has agreed to take a 15 per cent stake in a firm set to be the service provider for the government's Internet-based transactions. Telekom said it had entered into a joint venture
      Reuters  -  324 words
    • Article
      Lock icon Tame M'sian inflation allows low rates
      276 11 KUALA LUMPUR Reuters MALAYSIA'S inflation rate remained rock steady at 1.5 per cent in April, giving authorities scope to maintain current low interest rates despite an increase in rates by the US Federal Reserve Board. The Department of Statistics reported on Wednesday that the
      Reuters  -  276 words
    • Article
      Lock icon SEA needs better air-cargo ops
      402 13  -  BG Yeo says improving customs procedures would also help region From. Eugene Low in Minneapolis TO help develop South-east Asia as a single manufacturing area, countries in the region must improve their air-cargo handling operations and harmonise their customs procedures, said Singapore Minister for Trade
      402 words
    • Article, Illustration
      Lock icon Out to get the world's attention
      44 13 [HANOVER] Workers setting up an artificial pond at Thailand's pavillion on Thursday on the grounds of the Expo 2000 in Hanover, Germany. The world exhibition Expo 2000 will open its doors to the public on June 1. AFP
      AFP  -  44 words
    • Article
      Lock icon IMF sees Indonesia booming if reform policies stay strong
      416 13 WASHINGTON Reuters INDONESIA could join the boom enjoyed by other Asian states if strong policies can convince markets it is at last serious about reform, a senior International Monetary Firnd (IMF) official said on Wednesday. IMF Asia deputy director Anoop Singh,
      Reuters  -  416 words
    • Article
      Lock icon Philippine central bank may raise key rates to defend weak peso
      283 13 MANILA US Fed rate rise forces review, says bank governor Reuters Bloomberg THE Philippine central bank said it may raise key rates today for the second time in three days to boost the attractiveness of peso deposits compared with
      Reuters; Bloomberg  -  283 words
    • Article
      Lock icon Siam Cement to double investment to 16.6b baht
      210 13 ■BANGKOK Bloomberg SIAM Cement, Thailand's largest producer of industrial materials, said it would more than double planned investment in seven chemical plants to 16.6 billion baht (Ss73o million) in a bid to expand exports and supply the company with materials now imported.
      Bloomberg  -  210 words
    • Article
      Lock icon MSCI boosts CyberWorks' hopes
      401 13 HONGKONG Reuters AFP PACIFIC Century CyberWorks Ltd deputy chairman Francis Yuen said yesterday that the addition of the Firm to the MSCI Hongkong Index would help the company's merger bid for Cable Wireless HKT. "I think it will be a great help (to the merger)," Mr
      Reuters; AFP  -  401 words
    • Article
      Lock icon BOT sees net FDI shrinking to US$4.3b
      296 13 BANGKOK Reuters THE Bank of Thailand (BOT) said yesterday it expected net foreign direct investment (FDI) in Thailand this year to shrink to US$4.3 billion (557.4 billion) compared with US$5.B billion last year. BOT assistant governor Thirachai Phuvanatnaranu bala said in a statement
      Reuters  -  296 words
    • Article, Illustration
      Lock icon Congress panels give big boost to China trade pact
      704 14 WASHINGTON Fence-sitters on influential committees declare their support LAT-WP Reuters TWO influential congressional panels provided a major boost on Wednesday to legislation granting permanent normal trade relations (PNTR) to China, endorsing the controversial measure by overwhelming margins as several fence-sitters declared
      LAT-WP; Reuters; AP  -  704 words
    • Article
      Lock icon T'was a Wild Wild Bash at CLSA's annual party
      656 14 HONGKONG Investors let hair down at USslm raunchy event Bloomberg CREDIT Lyonnais Securities Asia Ltd (CLSA) promised a "night of decadence and raunch" in the invitations to the gala dinner for its seventh annual Investors Forum on Wednesday and it delivered.
      Bloomberg  -  656 words
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      87 words
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      1044 14 Australia and New Zealand Banking Group Limited A. C. N. 005 357 522 Financial Statements for ANZ Banking Group Limited and its controlled entities for the year ended 30 September, 1999 CONSOLIDATED THE COMPANY CONSOLIDATED THE COMPANY 1999 1998 1999 1998 1999 1998 1999 1998 AUD-M AUD-M AUD-M AUD-M AUD-M
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      603 14 IN THE MATTER Of THE COMPANIES ACT, CHAPTER 80 RECTAOI PTE LTD MEMBERS' VOLUNTARY LIQUIDATION At an Extraordinary General Meeting of the Company deemed to be held at 13 Tuas Crescent. Singapore *****7, on the 15th day of May 2000, the following resolutions were duly passed: 1_ SPECIAL RESOLUTION WINDING-UP
      603 words
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  • WORLD news
    • Article
      Lock icon Bid for global accounting benchmark gets big boost
      409 15 LONDON Market regulators endorse proposed lASC standards in landmark agreement FT STOCK market regulators have forged a landmark agreement that opens the way for standards which allow companies to list on stock markets anywhere in the world using one set of accounts.
      FT  -  409 words
    • Article, Illustration
      Lock icon Mori sets June 25 date for Japan elections
      224 15 TOKYO Reuters JAPAN'S embattled prime minister, Yoshiro Mori, tried yesterday to divert attention from opposition demands that he resign, setting a general election for June 25. He made the long-expected election proposal in a meeting with the heads of the other two
      Reuters  -  224 words
    • Article
      Lock icon Euro's fall hits revenue, earnings of major US firms
      389 15 NEW YORK Currency hedges may not cushion further declines, they warn Reuters MAJOR US corporations say they have been caught off guard by the euro's mauling and warn their currency hedges may not be enough to cushion against further declines in
      Reuters  -  389 words
    • Article, Illustration
      Lock icon Speedy M'soft break-up urged
      358 15 WASHINGTON Bloomberg ANTITRUST enforcers urged the judge who found Microsoft Corp illegally defended its Windows monopoly to reject the firm's proposal to delay consideration of a government plan to split up the No 1 software company. The US Justice Department and 17 states argued that Microsoft's
      Bloomberg  -  358 words
    • Article
      Lock icon Fresh eurozone rate hike likely
      332 15 FRANKFURT EXPECTATIONS of another rise in European interest rates increased on Wednesday despite the release of figures showing that inflation within the eurozone had fallen back below the 2 per cent target. Figures published by Eurostat for April showed that while headline inflation had eased,
      332 words
    • Article
      Lock icon US may block WorldCom's Sprint bid
      148 15 NEW YORK AP FEDERAL antitrust enforcers have recommended blocking World Com Inc's US$ll5 billion (Ssl99 billion) buyout of Sprint Corp because it would violate US antitrust law, The Wall Street Journal reported yesterday. The recommendation was forwarded to the Justice Department's antitrust chief, Joel
      AP  -  148 words
    • Article
      Lock icon Another hedge fund manager leaving his job
      241 17 WASHINGTON NYT A TOP hedge fund manager, Stanley Shopkorn, said on Wednesday that he was leaving USsslo billion (5517.3 billion) Moore Capital as its chief stock picker. He thus joins prominent fund managers who recently announced their decisions to quit the investment management
      NYT  -  241 words
    • Article, Illustration
      Lock icon LSE backs away from plan to trade in euros
      379 17 LONDON Retreat comes as opposition to merger with Deutsche Borse grows FT THE London Stock Exchange has backed away from a controversial plan to move towards trading shares in euros, a central plank of its merger proposal with Germany's Deutsche Borse.
      FT; FILE PHOTO  -  379 words
    • Article
      Lock icon NY exchange head incurs trading losses
      452 17 NEW YORK This has triggered suit on how losses should be covered Bloomberg THE chairman of the New York Futures Exchange (NYFE) incurred millions in trading losses, triggering a suit over how those losses should be covered, according to the president of a rival
      Bloomberg  -  452 words
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      341 15 -<fl 1^ RAINBOW FLY-BACK Case and bracelet in steel. Equipped with the legendary ZENITH EL PRIMERO movement, the only automatic chronography movement to beat at 36'000 alt ./hour. Chronograph functions coordinated by a column wheel. The FLY-BACK function allows to instantaneously re-start a new timing measurement, pressing on a single
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      124 16 WITH THE STAR ALLIANCE NETWORK, SINGAPORE AIRLINES GIVES YOU ACCESS TO MORE THAN 280 AIRPORT LOUNGES FOR A MORE COMFORTABLE WAY TO TRAVEL. Fly Singapore Airlines and you'll enjoy complimentary use of over 280 airport lounges* throughout the Star Alliance network, the world's largest airline network. Such star treatment is
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      341 17 NOTICE OF BOOKS CLOSURE DATE WANT WANT HOLDINGS LTD (Incorporated in the Republic of Singapore) NOTICE IS HEREBY GIVEN that the Transfer Books and Register of Members of the Company will be closed from 5.00 p.m. on 7 June 2000 up to and including 9 June 2000 for the purpose
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      171 17 IN THE MATTER OF THE COMPANIES ACT. CAP. 50 AND IN THE MATTER OF WESTERN PACIFIC COMPUTERS PTE LTD (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap. 50, the Final Meeting of the members of the
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      87 17 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF KEPPEL AUSTRALIA INVESTMENT PTE LTD (IN LIQUIDATION) NOTICE OF MEMBERS VOLUNTARY LIQUIDATION NOTICE IS HEREBY GIVEN that at an Extraordinary General Meeting of Member* of the abovenamed company held on 15 May 2000 it was resolved
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      395 17 IN THE MATTH Of THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTES Of TASIMPEX SINGAPORE PTE LTD NOTICE Of SPECIAL RESOLUTIONS FOR MEMBERS VOLUNTARY WINDING-UP (PURSUANT TO SECTION 2901 At on Extraordinary General Meeting of ihe members of ihe lAS IMPEX SINGAPORE PTE LTD duly convened and held on
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      589 17 In Hm Mott*r of Tka Componi«i Act Cop. SO And In Th« Motttr of PETROCOM SERVICES PTE LTD (In Voluntary liquidation) MEMBERS' VOLUNTARY WINDING UP At an Extraordinary Gonorol Mooting of tK« Mombors ol th* abovanamad Company duly convonod and hold at 3916 Orchard Rood #08 02 Ngoo Ann City
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      364 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF ICI BUILDING PRODUCTS SINGAPORE PTE LTD (In Members' Voluntary Liquidation) NOTICE IS HEREBY GIVEN pursuant to Section 308( 1) ol the Companies Act. Cap 50, that a Final General Meeting of the abovenamed Company will be
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      160 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF TECK CHIANG METAL MANUFACTORY PTE. LTD. (IN MEMBERS'VOLUNTARY WINDING UP) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(2) of the Companies Act. Cap. 50 that the FINAL MEETING of the Members of
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      191 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 And IN THE MATTER OF MAftONIILAN (5.1.A.) PTI LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap 50, that a Final Meeting of the Members of the abovenamed
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      458 18 Get Internet experience! 1 ;-*"in 1 s -;PSfeyj?*-3t<-/v^fwv^F~ wJSj-i +,**^-V*»i§u^?*&.irk/3c""Sfejefe*.'^ w-flinclioo Hamburg HSKf Amsterdam v^^- v \&£dgaiEslMMßlHMMM^^^^B H^te ..Brussels ■;■;<■-■ W&. -y'iig'- f '-"i ■iKfltifct)" x>',- \"jl g"-/ <>^" Listen, learn and network with six Internet companies that already have international success. When it comes to the digital age, Sweden
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  • FINANCE & commodities
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      Lock icon May futures close at slight discount to cash
      317 19  -  SGI Derivatives Tn/^agßeport MSCI Taiwan futures Chan Yet San THE Taiwan stock market ended with a nominal gain although other markets in the region slumped. Some factors affecting the market's movements are China's warning to Presidentelect Chen to recognise the "One-China" policy
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      Lock icon Oil recovers on falling US stocks
      244 19 ENERGY REPORTS Bloomberg [LONDON] Crude oil rose for the first time in three days on expectations that gasoline might be in short supply during the peak summer driving season. US gasoline inventories are 8 per cent lower than a year ago at 201.34 million
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      Lock icon Opec April output up by 1.1m bpd
      211 19 Reuters [LONDON] Opec oil production rose by 1.1 million barrels per day (bpd) to 27.67 million bpd in April, with 656,000 bpd of that gain from the 10 cartel members involved in supply curbs, the Vienna-based secretariat said. Output by the 10 minus
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      Lock icon CURRENCY REPORT
      319 19 Reuters London THE euro held levels within sight of record lows against the US dollar yesterday, continuing to be weighed down by the relative strength of the US economy, analysts said. The dollar also rose to sixyear highs against sterling and 15-year highs against the New Zealand dollar
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      1194 19 DTTERBAMK CROSS RATES u aul7 C< «■> faro Ffr OwHK$tedt» Yw Wow HI HgMili Mo S$ tod SfrMTStoM fomt U$$ Australia 0.847 4.724 0.636 4.169 1243 4.435 25.02® 47.988 0.622 6.347 2.163 1226 29.514 ***** 0.985 4.030 0.985 17.487 w 0.380 0.569 Canada 1180 5.575 0.750 4.921 1467 5234 29.538
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      1659 19 8I00M FUTURES May 17 RU68ER MwHdMkt«MlMpa) RSS 1 CONTRACTS arta/ty Close VotaM OpM M|t lw «t (toMH) lotorwt Ml 00 119.00 MOO 120.50 400 **00 ***** 400 S*00 123.50 400 RSS 3 CONTRACT (UScMb/kq) ¥<Mmm Oms <— U» Stt (tows) JWOO 67.50 50 1350 MOO 67.50 67.25 67J0 300 2750
      1,659 words
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  • SGX clob & regional stocks
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      Lock icon BANGKOK
      785 20 AFP □set Index -6b83 The Stock Exchange of Thailand (SET) Composite Index shed 2 per cent or 6.83 points to finish at 343.39 points, while the select SET 50 was down 0.58 points at 24.10. Capital Nomura Securities' domestic research chief Satit Wannasilapin said the market failed to sustain
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      Lock icon WELLINGTON
      286 20 AFP NZSE-40 +16.43 NEW Zealand shares rose 0.8 percent yesterday with interest spurred by the inclusion of two new stocks in interna tional indices widely used by fund managers. The NZSE 40 Capital Index rose 16.43 points to 2,014.24 with turnover worth NZ$lOO million. AFP May It UK (000)
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      Lock icon SYDNEY
      566 20 AFP Cl All Ordinaries -2&2 AUSTRALIAN share prices fell 0.9 per cent yesterday with a jittery Wall Street leading the market lower, brokers said. The All Ordinaries Index was down 28.2 points at 3.011.9 while the newly-intro-duced SP/ASX 200 slipped 29.9 points to 3,044.9. Turnover totalled 487.9 million shares
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      Lock icon MANILA
      301 20 AFP n Composite Index -12JSQ THE Philippine Stock Exchange Composite Index fell 0.8 per cent or 12.69 points to 1,521.36, on an overnight fall in US stocks. Turnover fell to 1.02 billion shares worth 539 million pesos from 2.38 billion shares valued at 1.33 billion pesos on Wednesday. AFP
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      Lock icon SEOUL
      310 20 AFP n Composite Index -1423 THE Korea Stock Exchange Composite Index closed down 14.23 points at 712.95. Volume came to 200.1 million shares worth 1.7 trillion won. AFP Hoi A nam Semi ***** -100 Brain Tech 940 -65 Central Bank 955 V65 CheilConwn *****0 0 Da* Cu Bank 1800
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      446 20 In tocai am In SJ tn US$ ««y *yr %«y %yr *ey <*yr i—yrr in—i cim>— CM»»f« csi»9» agg agg o—m World Indei PreMmlnery tT10.4 -1.4 -UO -1.7 -1.5 -16 -5.3 t CAFE Close WW J 1.5 0.1 -2.1 4.9 22 -6.7 Eur op* ClOM 1540.4 -17 1.7 2 8
      446 words
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      104 20 worc^s P er m i nu t e sales calls per hour. Toyota Show Fn 83m 5 30prr Sat Sun l Oam 4pm Closed or Pubic Hofcd.t. ,j *****2 Tel 475 128 1 japo»e ***** 1 Te 740 2180 Toyota Service Centres •33 Leng Kee Road Singapore '59*02 Tel 378
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      27 20 He Jakarta market was closed yesterday Make your dreams come true with the perfect home from The Straits Times Classified. ft Buy It. Sail h. Find It.
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  • SOUTH east asia
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      Lock icon Hang Seng down 3.4% on rising interest rate fears
      2821 21 HONGKONG AFP D Hang Seng -50&21 HONGKONG share prices dived 3.4 per cent yesterday to a low for this year amid concerns about possible further US interest rate hikes and following overnight losses on Wall Street, dealers said. A sharp fall
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      Lock icon CHINA
      887 21 Reuters H Shenzhen Blndei -HUE CHINA'S hard currency B shares closed up yesterday as remarks by Taiwan president-elect Chen Shuibian helped ease worries about possible tension over his inauguration tomorrow, brokers said. The Shanghai B Share Index ended up 1.2 per cent or 0.5-point at 42.27 points as turnover
      Reuters; Source: Credit Lyonnais Securities (Asia) Ltd  -  887 words
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      Lock icon TAIPEI
      374 21 AFP QWP Index +L 47 TAIWAN share prices closed marginally higher yesterday amid mixed sentiment ahead of the presidential inauguration on May 20, dealers said. The Taiwan Stock Exchange Weighted Price Index edged up 1.47 points to 9,087.21, on turnover of NT5153.73 billion. "Investors are divided on the prospects
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      Lock icon Nikkei down 2.1% on Wall St falls
      1956 21 TOKYO AFP Q Nikkei 225 -372.4 SHARE prices in Tokyo fell 2.1 per cent yesterday as Calls on Wall Street sparked selling of expensive technology issues, brokers said. The key Nikkei 225 Index lost 372.40 points to end at 17,031.63. "Investors here were
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  • HIGH tech
    • Article, Illustration
      Lock icon Not quite Allentown
      1001 22 The landscape of Seattle is undergoing a remarkable transformation, bankrolled largely by Microsoft co-founder Paul Allen NYT NO, notwithstanding a joke making the rounds here, Seattle has not changed its name to Allentown. Not yet, anyway. But from one end of downtown to the other, from a
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      Lock icon Seattle is the pot of gold for IT workers
      458 22 Salary average, at US$lO5,OOO a year, is higher than Silicon Valley: survey Reuters [SEATTLE] California's Silicon Valley may be a high-tech mecca, but information age wizards looking for a pot of gold may be better off heading for Seattle, which is
      Reuters  -  458 words
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      357 22 Europe is entering an exciting new era These changes have put Europe well Henderson Investors is a leading 'the Year 1999 for best performance over of change and offers attractive potential and truly on the investment map and global fund manager with more than 3 years for the European (excluding
      357 words