The Business Times, 5 August 2000

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Microfilm: NL21902
Total Pages: 22
1 22 The Business Times
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  • Title Section
    Lock icon Masthead
    12 1 MITA (P) 035/12/1999 SINGAPORE Internet: http: business-times.asial com.sg SATURDAY, AUGUST 5, 2000
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  • Article
    Lock icon MARKET SUMMARY
    73 1 □m 2,062.73 (+7.70) gBT-SBI U BULI3 (+10.99) PV ST INDEX FUTUBES U ijm (+8.00) iittBanFTUIES ■J 27L40 (+1.60) smx HABKET DnUGES Friday Change KLSECOMP ***** *12 NIKKEI 22* 16,***** -147.06 HANG SENG 17.42S.70 +161.42 SET INDEX 311.42 +146 JAKARTA OOMP—***** +117 MANILA OOMP _1.461.18 +1412 TAffElWP! ,7J!U0 +«l27
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  • Article
    Lock icon FINANCE
    73 1 FOBEX RATES uss s$ USS 1.720 £(USS/S$per£) 1.492 1667 EURO(USS/S$/E) 0.906 1JM DM 1162 1.257 YEN 108.4 1587 RM J.800 2289 HKS 7.798 4533 MOT. 40.81 23.61 MIW MM 9.020* 'StrnmmUt FttflOS IATES SENGAPORK* 5.80 KUALA LUMPUR 7.67 JAKARTA 39.00 BANGKOK 9.90 MANILA 11.00 HONGKONG 8.50 taipei 7.84 SYDNEY
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  • Article
    Lock icon Expenses soar as banks play 'hire the best' game
    796 1  -  L&test interim results show significant increases in cost-to-income ratios By\ Siow Li Sen [SINGAPORE] The most compelling numbers coming out of the local banks' latest interim results must be the significant increases in cost-to-income ratios as the banks race to arm
    796 words
  • Article
    Lock icon KL banks asked to raise deposit rates 25 points
    457 1  -  Lending rates should be maintained, says Bank Negara From] Eddie Toh in Kuala Lumpur FLEXING its muscles, the Malaysian central bank has "arm-twisted" banks into raising their fixed deposit rates so as to maintain a real rate of return for the
    457 words
  • Article
    Lock icon Finding the meaning in life...
    703 1  -  Marriage really isn't for everybody, Jaime Ee writes Jaime Ee COMING on the heels of a recent survey showing professional single women are becoming the biggest consumers in the Western world, it is perhaps comforting to know that at least in our own backyard, the
    703 words
  • Article, Illustration
    Lock icon These corporate bosses are playful – and they rock
    1396 1  - These corporate bosses are playful and they rock iri exclusive By Anna Teo [SINGAPORE] "Playful" isn't quite a word one would associate with top CEOs. But, according to a US professor who touts emotional intelligence as a vital trait of leadership, one common feature among some of today's most outstanding
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  • Article, Illustration
    Lock icon Emotional intelligence
    188 1 the haves and have-nots Herb KeHehtr, Southwest Airlines w f f Because I am unable to perform competently any meaningful function at Southwest, our 25,000 employees let me be CEO. That is one among many reasons why I love the people of Southwest Airlines. John Chambers, Cisco Systems
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    • Article
      Lock icon Land prices in Japan slip for eighth year
      542 2 Continued downturn could put the brakes on the country's tentative recovery Reuters [TOKYO] Japan's land prices have dipped for the eighth straight year, reflecting the economy's decade-long slump after the bursting of the asset price bubble of the late 1980s, government data
      Reuters  -  542 words
    • ON THE grapevine
      • Article
        Lock icon Insisting on coverage
        71 2 SEEMS our central bankers have a great sense of humour. A little bird told us that when BT's Hock Lock Siew column wondered whether Richard Branson's infamous streak might have breached the regulator's prudential guidelines, a wag at the Monetary Authority of Singapore quipped that Mr Branson
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      • Article
        Lock icon Think, drop out and grow rich
        250 2 IT isn't only Alan Greenspan who holds his US audiences in thrall, according to an e-mail that's circulating among some of us in the BT newsroom. We can't really vouch for its veracity, but it's a good read anyway, and is almost a parable
        250 words
      • Article
        Lock icon Top spot for Citibank
        107 2 WANT to hear the latest take on which banks serve Asia best? According to Euromoney magazine, the mantle of Best Bank has moved to Citibank, which has pipped arch rival HSBC for the first time in three years. However, the latter still tops the list for
        107 words
      • Article
        Lock icon Yazam acquires First Tuesday
        74 2 POPULAR venture capital matchmaker First Tuesday, so named because it meets on the first Tuesday of every month, is being acquired by Yazam, a New York-based venture capitalist. Founded in 1996 and operating from London, First Tuesday is represented in 85 cities globally today, including Singapore,
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    • Article
      Lock icon US economy sheds jobs for 1st time in 4 1/2 years
      528 2 Stocks up on hopes Fed won't hike rates; Jobless rate holds steady AP Reuters [NEW YORK] The US economy shed jobs last month for the first time in 4 Vi years, sending stocks higher and boosting hopes that the
      AP; Reuters  -  528 words
    • Article, Illustration
      Lock icon Want transparency, higher interest, less fuss? Try first-e
      727 2  -  I -it exclusive Partnering OUB, the e-bank is all set to shake up the local banking scene this quarter By I Siow Li Sen I'M TEMPTED to entrust my money to a man who calls me an idiot. Okay, first-e chief Nicholas
      CHRIS LOH  -  727 words
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  • SINGAPORE companies
    • Article
      Lock icon UOB posts 28% rise in interim net profit to $408m
      696 3  -  Fall year profit expected to reach $800-s9oom By Serena Ng UNITED Overseas Bank yesterday posted a 28 per cent rise in interim net profit to $408.4 million and officials expect a record full-year profit of $800 million to $900 million.
      696 words
    • Article, Illustration
      Lock icon OCBC interim earnings jump 52% to $445m, meeting forecasts
      732 3  -  Interim dividend payont raised to 170 from 14C By < Conrad Raj THE OCBC group has posted a 52 per cent jump in interim earnings to $445.24 million, a performance that matches market expectations and is in step with the bank's
      ARTHUR LEE  -  732 words
    • Article
      Lock icon So very different, e-jargon and all
      345 3  -  tan suyen WITH intriguing little phrases like "100 days battle cry", "strategy 3.0" and "buyer-advocate model", Alex Au, vicechairman and CEO of the "new and nimble" OCBC Bank was very much the master of the sound bite at his bank's interim results briefing yesterday.
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    • Article, Illustration
      Lock icon Had trouble parking, asks the Shaolin master
      465 3  -  jaime ee THERE were stifled murmurs at UOB yesterday when only deputy chairman and president Wee Ee Cheong and his financial lieutenants showed up for the bank's interim results briefing. With president Ernest Wong and deputy president Koh Beng Seng conspicuously absent, conspiracy
      SIEW YAW HOONG  -  465 words
    • Article
      Lock icon OCBC sees vast potential in insurance through branches
      291 3  -  By I Catherine Ong OCBC Bank said it sees "tremendous potential" for selling insurance policies through its branches and expects this business to yield double-digit returns. Responding to questions on the bank's bancassurance strategy, OCBC deputy president Ooi Sin Teik said it
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    • Article
      Lock icon More choice for Japanese Net investors on the cards
      809 3  -  i[Q3H locksiew anthony rowley Exchanges that trade Internet and other hightech stocks are proliferating in Japan. But they are running up against a problem: there are relatively few stocks that are suitable for listing, and investors are becoming disillusioned as a
      809 words
    • Article, Illustration
      Lock icon Aberdeen divests entire 8.75% stake in Clipsal
      365 4  -  Block deal of 10.06 m shares done at $3.75; buyer remains unknown By, Andrea Tan ABERDEEN Asset Management has disposed of its entire 8.75 per cent stake of 10.05 million shares in Clipsal Industries (Holdings) at $3.75 each in a deal that took
      Source: Bloomberg  -  365 words
    • Article
      Lock icon Strong first half by Total Automation
      185 4 Improvement in first-half profit due partly to tax writeback TOTAL Automation said yesterday that its first-half net profit increased by 18.7 per cent to $2.18 million. The increase was due partly to a write-back of overprovisions in the previous year, leading to a lower
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    • Article, Illustration
      Lock icon Links' shares stay volatile in heavy trade
      297 4  -  Ity Marissa Chew SHARES of reclamation company Links Island Holdings remained volatile in heavy trading yesterday, even though its managing director had said the day before that the rumours surrounding the company were baseless. The stock plunged to 85 cents in early trading,
      Source: Bloomberg  -  297 words
    • Article
      Lock icon JIT seen unaffected by Motorola output cut
      168 4 AFX-Asia JIT Holdings Ltd said the impact of Motorola cutting its handset production target to 85 million units this year from an earlier target of 100 million units will not be significant. "Motorola's targeted handset production of 85 million units is still significantly
      AFX-Asia  -  168 words
    • Article, Illustration
      Lock icon YHS to transfer F&B businesses to unit in revamp
      370 4  -  By\ Marissa Chew YEO Hiap Seng yesterday said it would transfer all its food and beverage businesses to a subsidiary as part of a reorganisation to separate its F&B business from its other activities. The separation was part of YHS's deal
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    • Article
      Lock icon BT SHARE information service
      4436 4 Mm tP» MM Mir 30 I 0321 7443 0.13 170 Bit* TY LY TV LY Maqnatimp Mar 15 P 14.730 24JOS 7.40 12-1 Ciww mm ($m> tf«J (ctal (eta) MedtecsUSS Mar20 P 1*17 0.772 138 0.31 r 1 1 MantarMeMa Jun 09 P 5.718 3329 110
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    • Article, Illustration
      Lock icon eWOS share price crashes 31% on debut
      458 5  -  Analysts say slump is due to counter's expensive valuation By Andrew Wee SPORTS retailer eWorldofSports.com's (eWOS) share price crashed 31 per cent at the end of its debut session yesterday a slump analysts attributed to the stock's expensive valuation. eWOS opened below its
      FILE PHOTO; Source: Bloomberg  -  458 words
    • Article
      Lock icon Investors turn wary as IPO valuations soar
      1380 5  -  Share performance dismal as upside is limited By Ling Su Ann THE valuations of initial public offerings have been creeping up in the past few months and this is starting to discourage investors from putting their money in new listings. Stiff premiums: During
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    • Article
      Lock icon Preview of Wing Tai's Tessarina project opens today
      283 5  -  idexclusive By Andrea Tan WING Tai Holdings, which has yet to launch a project this year, will offer a preview of 50 units of its freehold Tessarina condominium project at Bukit Timah from today. The units are expected to be priced at
      283 words
    • Article, Illustration
      Lock icon Local dotcom plans listing on Japan's new tech bourse
      399 5  -  l-iriexclusive DEZ hopes to float about 20% of the company by 4th qtr Toh Han Shih THE Design Exchange, a Sin-gapore-owned company moving into e-commerce, plans to list on Mothers, the Tokyo Stock Exchange's new market for technology firms. It would
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  • SINGAPORE markets
    • Article
      Lock icon Untitled
      412 6 Slock* Volume EWSport 1c 37.133,000 MediaRing 10c 35,515,000 TTInt 15c 25,386,000 SMRT10C 25,323,000 ISoftel5c 18,773,000 Links Island 10c 18,058,000 ITechGip4c 15,303,000 Ionics P$1.00 13,336,000 North 22 US1c....„ 12,550,000 OipealSOc 10,738,000 Slocks PacificCentury 57,406,300 Chart Semiconductor 26c 39,969,712 ClipsalSOc 39,541,610 DBSQrp 27,610,822 ST Assembly 25c 22,632,920 SingTel 15c 22,530,260 S1A 22,323,100
      412 words
    • Article, Illustration
      Lock icon STI rises but market still focused on second liners
      543 6  -  -II comment STOCKS ven sreenivasan TRADING in the Singapore stock market yesterday was again dominated by speculative interest focused largely on second-liners and situational stocks. As has been the case all week, there was no discernible trading pattern. Technology stocks had
      543 words
    • Article
      Lock icon US$ ends mixed ahead of jobs data
      323 6 AFP [TOKYO] The US dollar rose against the yen in lacklustre trade yesterday with investors sidelined ahead of the release of US jobless figures later in the day, dealers said. The US dollar traded at 108.38 yen around 0900 GMT, up from 108.18-21
      AFP  -  323 words
    • Article, Illustration
      Lock icon Koh Bros wrt has good figures, potential upside
      194 6  -  WARRANT WATCH By Ven Sreenivasan ONE warrant which has seen some heavy activity is that issued by construction specialist Koh Brothers. The instrument gamed half a cent to 18.5 cents on a relatively heavy volume of 1.3 million units. Meanwhile, the underlying
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    • Article, Illustration
      Lock icon NOL below $1.80, but still in up zone
      247 6  -  BOT STOCK By\ Ven Sreenivasan SHIPPING and logistics giant Neptune Orient Lines yesterday fell seven cents to $1.74 on 5.5 million shares, more than twice the 10-day moving average of 2.4 million. Yesterday's decline marked a downside breakout below its medium term
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    • Article
      Lock icon Market Notices
      150 6 ♦KIM Eng Holdings announced that Chan Keng Loke has tendered his resignation as a director of the company and as managing director of Kim Eng Securities with effect from Sept 1. ♦GOLDEN Agri-Resources announced the acquisition of PT Agropalma Sejahtera through its Indonesian subsidiary, PT Ivo Mas Tunggai.
      150 words
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      Lock icon Page 6 Advertisements Column 1
      15 6 77** Business £kiss? http://business-times.asial.com.sg Before you travel, make a note of our website address ——mm^
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      Lock icon Page 6 Advertisements Column 2
      97 6 I YOU CAN NOW PUT YOUR CPF SAVINGS IN EICHT. important All applications tor units in eighi must be made cn the application forms accompanying the prospectus investors must read the prospectus The value of the units and the income from them may fall as well as rise SSl'l'.s-- k
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  • SINGAPORE news
    • Article
      Lock icon Wage component of rebased UBC index goes down
      616 7  -  ***** on the economy By. Anna Teo WAGES are no longer the biggest part of business costs. The cost of services like utility charges, rentals, interest payments and professional fees is now the biggest component in the recently-rebased unit business cost (ÜBC)
      616 words
    • Article
      Lock icon Yahoo! Singapore launches 35,000 product cybermall
      172 7 SINGAPORE has a new shopping maU. It's not downtown, it's not air-conditioned and you can't stroll around it. But it offers a huge range of goods from top local outlets. Yahoo! Singapore's new online mall features 23 merchants such as C K Tang, C
      172 words
    • Article
      Lock icon GE-OAC merger plan spurs optimism
      510 7  -  One question is whether they will erode each other's business By Tay Hong Seng, Ling Su Ann ANALYSTS are optimistic the proposed merger between Great Eastern Holdings and Overseas Assurance Corporation (OAC) will enhance the group's efficiency and are calling a buy on the stock.
      510 words
    • Article
      Lock icon EDB, top firms give $10m for scholarships
      477 7  -  Development of life sciences vital, says EDB chief Byi Chuang Peck Ming THE Economic Development Board and several leading companies are giving away more than $10 million in scholarships to 70 recipients. The companies include Glaxo Wellcome, Exxon Mobil and Hamilton Sundstrand, and
      477 words
    • Article, Illustration
      Lock icon StarHub soars to new heights
      163 7 TELECOMS company StarHub had two reasons to celebrate yesterday. In the morning it unveUed its airship to be showcased during the National Day celebrations. And in the evening it announced it had signed its 100,000 th postpaid mobile subscriber. The Star Hub Lightship 128 ft
      AFP  -  163 words
    • Article
      Lock icon Stay clear of Pulau Ubin waters: public warned
      244 7  -  By\ Donald Urquhart THE public has been warned to stay away from the waters off Pulau Übin foUowing a spin of nearly 230 tonnes of the chemical phenol following a collision between an Indonesian tanker and a Dutchregistered dredger early yesterday morning.
      244 words
    • Article
      Lock icon UUNet appointed SCV's third bandwidth supplier
      308 7 SINGAPORE Cable Vision (SCV) has appointed UUNet its third Internet bandwidth supplier, after Sing Tel and Star Hub. The move is aimed at boosting the speed and reliability of SCV's MaxOnLine Internet broadband to attract more customers. SCV vice-president of broadband engineering services Thomas
      308 words
    • Article
      Lock icon NTUC is on track to achieving target for SRP
      120 7  -  Heng Chee How Deputy Secretary General National Trades Union Congress YOUR article, "30,000 trained way below SRP's target" (BT, Aug 4), was inaccurate. The target of 100,000 training places in the Skills Redevelopment Programme (SRP) to be achieved over a five-year
      120 words
    • Article
      Lock icon SingTel enhancing shareholders value
      137 7  -  MAILI^n Karena Tay (Ms) Investor Relations Manager Singapore Telecommunications Limited WE refer to the letter "Let shareholders keep compensation, Sing Tel" by Kevin Yap (Mailbag, Aug 3). Sing Tel is committed to creating and enhancing shareholders value and has embarked on various programmes such as share
      137 words
    • Article
      Lock icon Planning for the future, the Citibank way
      405 7  -  Eddie Khoo Business director Sales, Distribution Marketing Global Consumer Banking Citibank, NA I REFER to the letter "Shortfall or surplus at age 50?"(Mailbag, July 31) by Mr Leong Sze Hian. I would like to thank Mr Leong for his feedback on DJ Margaret
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  • e-NEWS
    • Article
      Lock icon Online broker Monex makes smashing debut
      321 8 TOKYO Reuters JAPAN'S leading online broker Monex Inc staged a stunning debut on the Tokyo Stock Exchange's Mothers market yesterday with its well-known brand name attracting individual investors. Monex, the first Japanese online broker to go public and one of the world's first major
      Reuters  -  321 words
    • Article, Illustration
      Lock icon Short films make it big on the Net
      646 8 But film-makers hanker for the spotlight of the 'old-fashion' media like TV and film festivals Reuters [LOS ANGELES] SHORT films, long seen as the poor cousin of the movie business, have exploded on the Internet, but many creators still hanker for the
      Reuters  -  646 words
    • Article
      Lock icon Li Ka-shing set to expand telecoms empire to Italy
      664 8 MILAN Hutchison outfoxes Telekom in battle for third-generation licence bid FT NYT Reuters HONGKONG tycoon Li Kashing, fresh from stellar successes in telecoms ventures overseas, yesterday looked set to make another foray, this time into Italy. One of his flagship companies,
      FT; NYT; Reuters  -  664 words
    • Article, Illustration
      Lock icon On the line and on the go
      65 8 [BEIJING] A bus passenger looks out from a mobile phone ad in Beijing yesterday. According to statistics, the number of fixed line telephones is growing rapidly and has reached 150 million lines in China. There are now 70 million mobile phone subscribers, and
      AP  -  65 words
    • Article
      Lock icon eBay keeps visitors hooked longest: survey
      337 8 LONDON Jane results show that more than half of world's web surfers visited Yahoo and 24 of top 25 sites are US-based Reuters YAHOO! may be the world's top name on the Net, luring the most people to its site, but latest figures show
      Reuters  -  337 words
    • Article
      Lock icon Asia Online plans to raise US$100m in US stock offering
      314 8 WASHINGTON Backers include Softbank, J P Morgan, 6E Capital Bloomberg ASIA Online Ltd filed for a US initial public offering of stock estimated to raise as much as US$lOO million (Ssl72 million) to expand the Hongkong company's Internet service business.
      Bloomberg  -  314 words
    • Article
      Lock icon Net body taking proposals for dot-com alternatives
      291 8 NEW YORK AP THE Internet's oversight body said on Thursday that it would accept proposals next month for expanding the pool of online addresses used to find websites. New domain names such as ".Movie" or ".Travel" would help relieve the crowded field of
      AP  -  291 words
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  • REGIONAL news
    • Article
      Lock icon AMMB-Utama merger deal still on
      650 9  -  Reports say Utama to get commercial banking, AMMB overall control From] Diana Oon Abdullah in Kuala Lumpur AN unusual compromise on management control has ensured that the merger between the Arab Malaysian Banking group (AMMB) and the Utama Banking group remains on track. Market talk
      650 words
    • Article
      Lock icon MAS in code-sharing deal with Cathay Pacific
      315 9 KUALA LUMPUR AFX-Asia AP MALAYSIAN Airline System (MAS) will sign a code-shar-ing agreement with Cathay Pacific Airways on Tuesday, the Malaysian carrier said yesterday. The arrangement is scheduled to take effect from next month and will cover services between Kuala Lumpur and Hongkong
      AFX-Asia; AP  -  315 words
    • Article
      Lock icon Time dotCom aims to double revenue to RM2b in next financial year
      400 9 KUALA LUMPUR Listing won't be affected by weak sentiment: Halim TIME dot Com Bhd, which plans to list on the Kuala Lumpur Stock Exchange before year-end, expects to double its revenue to RM2 billion (*****,000) in the next
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    • MARKET moves
      • Article
        Lock icon Jamaludin made Tenaga dy chairman
        49 9 AFX-Asia [KUALA LUMPUR] Tenaga Nasional traded as high as RM 13.30 yesterday but a late sell-off cut the gains. It closed up 10 sen at RM13.10. After the close, the company announced the appointment of Jamaludin Mohd Jarjis as deputy chairman, effective today.— AFX-Asia
        AFX-Asia  -  49 words
      • Article
        Lock icon M'sian Pac buys back 105,000 shares
        58 9 AFX-Asia [KUALA LUMPUR] Malaysian Pacific Industries shares closed RMI, or 3.4 per cent, down at RM28.75 yesterday as the company said it bought back 105,000 shares at RM28.75-29.00 each for a total of RM3.025 million (551.37 million). Some 8.271 million Malaysian Pacific shares are
        AFX-Asia  -  58 words
    • Article
      Lock icon Daim tells brokers to merge now or face problems later: report
      301 9 KUALA LUMPUR AFX Asia FINANCE Minister Daim Zainuddin said local stockbroking firms should merge now or face problems later, the New Straits Times reported yesterday. "Those who do not want to merge should not seek the government for assistance
      AFX Asia  -  301 words
    • Article, Illustration
      Lock icon Musa slams those who criticise right-to-demonstrate stand
      384 9 KUALA LUMPUR AFP AP FORMER deputy prime minister and head of Malaysia's four-month-old human tights commission Musa Hitam yesterday strongly rebutted criticism against the commission's stand on the public's right to demonstrate. In a statement yesterday, Mr Musa, who is chairman of the
      AFP; AP; AFP, AP  -  384 words
    • Article
      Lock icon Malaysia eases licensing rules for Net firms
      457 9 KUALA LUMPUR Class licence scheme to help liberalise multimedia industry Reuters AFX-Asia THE Malaysian Communications and Multimedia Commission said yesterday it had implemented an easier licensing structure for companies providing Internet and val-ue-added multimedia services. The commission said the Minister of Energy, Communications
      Reuters; AFX-Asia  -  457 words
    • Article, Illustration
      Lock icon Gus Dur to get strong warning at MPR
      841 10 JAKARTA Monday's session conld leave open possibility of impeachment later, say analysts AFX-Asia PRESIDENT Abdurrahman Wahid is likely to get a strong warning about the conduct of his government when he appears before the upper house of Parliament (MPR) on Monday, which
      AFX-Asia; REUTERS  -  841 words
    • Article
      Lock icon Capital controls an option for Jakarta
      693 10 JAKARTA But UN official adds that there is no capital squeeze in Indonesia now AFP INDONESIA should not rule out imposing capital controls to stave off a repeat performance of the devastating 1997 financial crisis, a senior Asian economist said. Speaking at a conference
      AFP  -  693 words
    • Article
      Lock icon Credits misuse costing state S$27b
      281 10 JAKARTA Liquidity credits extended mostly in Suharto's time Reuters INDONESIA'S Supreme Audit Agency (BPK) said yesterday that the state was facing losses of up to 138.44 trillion rupiah (Ss27 billion) from the misuse of liquidity credits lent by the central bank to help keep banks
      Reuters  -  281 words
    • Article
      Lock icon Base price set for Chunghwa share auction
      442 10 Govt panel decides on Tslo4 per share for sale of 289 m shares later this month Reuters {TAIPEI] Taiwan's Ministry of Transportation and Communications yesterday set a base price for an auction of shares in Chunghwa Telecom, paving the way for the state-run
      Reuters  -  442 words
    • Article
      Lock icon Indonesian GDP up 4.13% in Q2; more rises seen
      565 10 JAKARTA Figure is good news for Abdurrahman ahead of the MPR Reuters INDONESIA yesterday announced better-than-expected growth in the second quarter and said more rises were on the way, cheering news for President Abdurrahman Wahid who is under attack for mismanaging
      Reuters  -  565 words
    • Article
      Lock icon NT$300b move to revive Taiwan property market
      177 10 TAIPEI Government to offer preferential housing loans to home buyers, says report AFP TAIWAN'S government would offer up to NTS3OO billion (5116.6 billion) of preferential housing loans to home buyers to revive the sluggish property market, it was reported yesterday. The administration is
      AFP  -  177 words
    • Article
      Lock icon China Southern Airlines' parent absorbs Zhongyuan
      288 10 SHANGHAI Reuters THE parent of China Southern Airlines has taken over small regional carrier Zhongyuan Airlines, the first step in an overhaul of China's fragmented airline sector. The merger agreement was signed yesterday and the deal would help China Southern, the country's largest carrier,
      Reuters  -  288 words
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  • WORLD news
    • Article, Illustration
      Lock icon Bush vows to end politics of fear
      671 11  -  Presidential nominee also wants to reform educational, social security systems and reduce tax burden From Leon Hadar in Washington ACCEPTING the Republican party's nomination as its presidential candidate, George W Bush called on the American people to provide him with a mandate to
      671 words
    • Article, Illustration
      Lock icon The dark horse of the Bush clan
      941 11 Despite rising to his political ambitions in a rather haphazard manner, George W Bush now leads the presidential race NYT JUST six years ago, when George W Bush ran for governor of Texas, even his parents expected him to lose. It was his
      NYT; AP  -  941 words
    • Article
      Lock icon Flashes of wit and biting ridicule
      367 11 WHAT THE PAPERS SAT Texas Governor's speech at convention signals he will be tough to beat AFP [PHILADELPHIA! Texas Governor George W. Bush did a good job of presenting himself to the American public at the Republican party convention and could pose a tough
      AFP  -  367 words
    • Article
      Lock icon Global bank lending up 5% in 1st qtr: BIS
      254 11 BASEL AFP GLOBAL bank lending rose by 5 per cent in the first three months of the year to U557.54 trillion (5513.1 trillion), but lending to developing countries continued to fall slightly, the Bank for International Settlements (BIS) said yesterday. The
      AFP  -  254 words
    • Article
      Lock icon M-phones safer with hands-free kits: study
      165 11 SYDNEY AFP Reuters HANDS-free kits can reduce exposure to electromagnetic radiation (EMR) from mobile telephones by more than 90 per cent, a new Australian study has found. The study, by the Australian Consumers' Association (ACA), contradicts the findings of a recent British study. The
      AFP; Reuters  -  165 words
    • Article
      Lock icon UK to protect consumers from unexpected bank charges
      515 12 LONDON Watchdog says banks are overcharging for services by opto £5b a year Reuters BRITAIN pledged yesterday to protect consumers from unexpected bank charges by promoting competition, but stopped short of adopting the most radical steps recommended by an industry watchdog. Chancellor
      Reuters  -  515 words
    • Article, Illustration
      Lock icon Queen Mother turns 100
      45 12 [LONDON] Britain's Queen Elizabeth the Queen Mother, accompanied by her grandson, Prince Charles, after leaving her London home Clarence House on the way to Buckingham Palace, London, yesterday to take part in a lunch to celebrate her 100 th birthday. AP
      AP  -  45 words
    • Article
      Lock icon Tobacco firms in secret cooperation for 2 decades: study
      303 12 LONDON Reuters SEVEN of the world's leading tobacco firms cooperated for more than two decades in denying the health risks of smoking and designed strategies to reassure smokers, according to a study published yesterday. Secret tobacco industry documents revealed that top
      Reuters  -  303 words
    • Article
      Lock icon Ex-investment banker jailed over insider trading
      281 12 m NEW YORK Reuters JAMES McDermott Jr, the former head of investment bank Keefe, Bruyette Woods, was sentenced on Thursday to eight months in prison and fined U5525,000 (5542,500) for passing on inside tips about merger deals to his porn-star mistress. McDermott, 49, is
      Reuters  -  281 words
    • Article
      Lock icon 2 Japan high-tech firms soar on debut
      529 12 ■TOKYO Monex and JSAT break string of IPO disappointments Reuters SPARKLING stock market debuts by two high-tech Japanese companies yesterday broke a string of initial public offering (IPO) disappointments and showed newcomers could still get a warm welcome, but analysts warned such successes
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      Lock icon Japan's banks moving back onto world stage
      589 12 TOKYO FT TKN years ago, Japanese banks strutted proudly on the world stage. Then, when the 1997 banking crisis struck, they beat a panicky retreat and shrunk their loan books. Now, they are tiptoeing back. Recently, groups such as Bank of Tokyo Mitsubishi,
      FT  -  589 words
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      Lock icon Olympics TV row cross-fire traps Canberra in the middle
      472 12 SYDNEY Dispute over access to public areas outside arenas Reuters AUSTRALIA said yesterday it was caught in the cross-fire of a row over foreign television access to news events rather than sporting competitions at the Sydney Olympic Games but would work
      Reuters  -  472 words
    • WORLD Watch
      • Article
        Lock icon Anglo backs out of battle for North
        74 12 Reuters [LONDON] London-listed miner Anglo American yesterday backed out of a Gerce takeover battle for the world's fourth ranked iron ore producer, North Ltd, handing victory to the world No 3, Rio Tinto. Anglo said in a statement that a bid above Rio's
        Reuters  -  74 words
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        Lock icon Saudi prince takes stake in German firm
        92 12 AFP [FRANKFURT] Saudi billionaire Prince Al-Walid ben Talal will, next week, exercise an option to take a 3.25-per cent stake in Kirch Pay TV, the pay television company owned by German media magnate Leo Kirch, the Financial Times reported yesterday. Hie deal will
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        Lock icon Germany launches start-up action plan
        72 12 Reuters [BERLIN] German Economics Minister Werner Mueller announced an action plan yesterday to cut back red tape and provide targeted state aid to help entrepreneurs found new businesses. Unveiling the 300-million-mark (*****.6 million) initiative to boost small businesses at the Expo 2000 World Fair in
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        Lock icon Danes support euro membership: poll
        74 12 AFP [COPENHAGEN] Support among Danes for bringing their country into the euro zone is growing ahead of the Sept 28 national referendum on the issue, a poll published here yesterday indicated. The survey of more than 1,000 voters, commissioned by the financial daily Boersen and
        AFP  -  74 words
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      112 11 WOW! A $741 VALUE PACKAGE FOR AS LITTLE AS $148 ■■■n ]>- time, will get a Gianfranco Ferre briefcase and desktop set a package worth $741 in total. Kj 1 F|f of up to 100,000 in cash from Citibank comes without the need for I r >T Citibank Ready Credit's
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  • FINANCE & commodities
    • Article
      Lock icon STI futures lose momentum near 2,069
      326 13  -  SGI Derivatives TnAta&Reports ST Indax/MSCI STpore Index Chan Yet San THE Singapore stock market yesterday rose on selected buying of blue chips. The Straits Times Index gained 7.70 points or 0.38 per cent to 2,052.73 points. Within the index, 21 counters advanced while 19
      326 words
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      Lock icon Futures up on Nasdaq rise, short covering
      230 13  -  MSCI Taiwan Index Chan Yet San THE US market's rise on Thursday helped Taiwan stocks to rise yesterday, ending a four-day decline. The MSCI Taiwan Index gained 1.09 per cent to 350.88 points. Trading volume within the index was 675.28 million shares with
      230 words
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      Lock icon Oil climbs in range-bound trade
      185 13 ENEMY REPORT Reuters [SINGAPORE] Oil prices rose modestly in Asia yesterday, its third straight climb, but were seen in ranges after a recent jump from near threemonth lows. By 0705 GMT, September New York Mercantile Exchange (Nymex) crude futures were last traded at U5528.85 a
      Reuters  -  185 words
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      Lock icon CURRENCY REPORT
      342 13 Reuters London THE euro yesterday teetered above this week's lows against the US dollar and the yen and stumbled against sterling, with the strength of the US economy and global investment flows working against the single currency. Markets were thin ahead of key US employment data at 1230
      Reuters  -  342 words
    • Article, Illustration
      Lock icon Untitled
      1315 13 IMTERBAMK CROSS RATES Aug4 A$ CS Bmb Euro Ffr Pro HK$ Ind Bs fiupiah Yen Won RM WZS Pah Bs Ptso SS Band Sfr WT$ Balrt Pound US$ Australia 0.867 4.851 0.646 4.238 1.264 4.557 26.504 50.250 0.633 6.518 2.220 1.285 31.082 26.080 1.005 4.089 0.998 18.157 23.728 0.392 0.584
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      Lock icon Untitled
      1931 13 81 COM FUTURES Aug 4 RUBBER (futures dosing «s at 5 JOpm) RSS1 CONTRACTS cmtsAq) ClOM VotalM OpM Month High Law Sett (tows) Interest Sep 00 118.25 400 Oct 00 119.50 Nov 00 120.75 Dec 00 122.00 RSS 3 CONTRACT (US c«rts/*«> Volume OpM Month High Low Sett (tonnes) Interest
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  • STOCKS east asia
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      Lock icon Gains in banks, properties offset tech, telco falls
      2881 14 HONGKONG Reuters FlHan* Sen* +15L42 HONGKONG'S Hang Seng Index finished marginally higher yesterday as stronger banking and property shares won a tug-of-war with weak technology and telecom stocks. The blue chip Hang Seng Index finished up 0.88 per cent or 151.42 points
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      Lock icon Tech stocks lead Tokyo to 17-month low
      2072 14 TOKYO Reuters Q Nikkei 22S -147.08 HIGH-TECHNOLOGY stocks such as Toshiba Corp and NEC Corp lost further ground yesterday with Tokyo's benchmark Nikkei 225 average closing at its lowest level since March, 1999. The Nikkei fell 147.08 points or 0.93 per cent to
      Reuters  -  2,072 words
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      Lock icon CHINA
      1017 14 n Shenzhen B Index -Ll4 CHINA'S hard currency B shares closed mixed yesterday as profittaking weighed down Shenzhen shares and news of an asset sale by Shanghai Tyre and Rubber helped lift Shanghai. The Shenzhen B Share Index fell 0.96 per cent or 1.14 points to 118.38 on contracted
      Source: Credit Lyonnais Securities (Asia) Ltd  -  1,017 words
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      Lock icon TAIPEI
      376 14 AFP □WP Index +80.27 TAIWANESE share prices rose one per cent yesterday on strong buying of technology stocks after sharp gains on Wall Street overnight. The Weighted Price Index climbed 80.27 points to 7,925.20, on turnover of NT568.57 billion. Gainers led losers 299 to 178, with 109 issues unchanged.
      AFP  -  376 words
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      102 14 NOTICE IS HEREBY GIVEN that I, NEO SOON SENG of Blk 123, Bishan St 12 *09-03 Singapore *****3, have applied for a Public House Second Class Licence in respect of M/s Insead located at 1 Ayer Rajan Avenue Singapore *****6, and that this application will be considered by the Liquors
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      103 14 NOTICE IS HEREBY GIVEN that I, TAN HUI TIANG of 102 A Lorong K, Telok Kurau Singapore *****6, have applied for a Wholesale Liquor Shop in respect of M/s Juno Pacific Pte Ltd located at 78 Shenton Way #28-01 Singapore *****0, and that this application will be considered by the
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      106 14 NOTICE IS HEREBY GIVEN that I, TAN CAN CAN of 49 Fulton Road Singapore *****2, have applied for a Ist Class Public House Licence in respect of M/s Dreams ()f The Red Chamber located at 207 River Valley Road *01-62 UE Square Singapore *****5, and that this application will be
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      110 14 NOTICE IS HEREBY GIVEN that I, LIM SHEA GECK of 142 Westwood Ave, Singapore *****1, have applied for a (05) Public House, Second Class in respect of M/s Imperial Garden Restaurant Pte Ltd, located at Safra Yishun Club House, 60 Yishun Ave 4, Singapore *****7, and that this application will
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  • STOCKS klse
    • Article, Illustration
      Lock icon Market slightly firmer, helped by institutions
      416 15 AFP Q Composite Index +5J2 MALAYSIAN shares ended 0.6 per cent higher yesterday in thin trade, as institutions held the market up when they bought selected blue chip stocks, dealers said. The Kuala Lumpur Stock Exchange Composite Index closed up 5.12 points at 814.99.
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      Lock icon Untitled
      7849 15 INDUSTRIALS CensiMMf protects 2000 Last Vol Day Net Cap High Low Company Sato OOO High Lorn P/l J mil 420 310 AJinomoto 350 19.1 1419 158 62 Angkasa 72 1 6 72 71.5 106.2 670 290 Apollo Food Hiq 470 unch 3 470 464 10.2 188 0 3525 2700 BAT
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  • SGX clob & regional stocks
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      3033 16 BONDS A WARRANTS wt Wnta hvtf inin MHfcak lart M Bay I nNiili kn Cmm bar Mm mm Ml* U» ri«|i»'i if «ar- IHW M# Lot tore Mhr Mm Urtil Mia Mn (%l tnihiT u«t 51.5 14.5 S Acma ******4 16 1.5 45 16 16 16 16.5 16 41.0 1
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      Lock icon SEOUL
      288 16 AFP Q Composite Index -1108 SOUTH Korea's Composite Index yesterday fell 12.08 points to 710. Volume was 219.7 million shares worth 1.4 trillion won. —AFP Anan* Saml ***** -250 Brain Tach B20 30 Central Bank 710 90 Cha* Com™ *****0 3000 Da* Ou Bank 2109 -40 Daaianq Corp WOO
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      Lock icon MANILA
      284 16 AFP Composite Index jjJ2 PHILIPPINE share prices ended 1.1 per cent higher yesterday, rising for a third day as investors continued to buy stocks hammered by a recent five-day slump. The Composite Index rose 15.12 points to 1,451.18. Turnover was about 521 million pesos.—AFP H%* 000) MPC Allied 0.48
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      Lock icon WELLINGTON
      271 16 AFP □NXSE-40 -L 66 NEW Zealand shares closed 0.08 per cent lower yesterday, dragged down by retailing heavyweight The Warehouse which posted worse-than-ex-pected fourth-quarter sales. The NZSE-40 Capital Index closed down 1.66 points at 2,129.46 on turnover of NZ$l2l million.—AFP im* COOP) Advantage HQS 86 0.11 4SS Air NZ
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      Lock icon SYDNEY
      544 16 AFP PADOrdmariM *170 AUSTRALIAN share prices ended 0.1 per cent higher yesterday after a quiet day whereby activity focused on the resource sector. The All Ordinaries Index closed 2.70 points higher at 3,238.50. Turnover totalled 552.4 million shares worth A 51.47 billion with 711 risers and 762 decliners. The
      AFP  -  544 words
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      Lock icon BANGKOK
      771 16 AFP H SET Index +3.46 THAI share prices rose 1.1 per cent yesterday in solid trading across the board, with continued buying from foreign investors boosting sentiment, dealers said. The Stock Exchange of Thailand (SET) Index rose 3.45 points to 311.42, while the benchmark SET 50 rose 0.24 of
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      Lock icon JAKARTA
      676 16 AFP ft Composite Index +2J7 INDONESIAN share prices closed 0.4 per cent higher yesterday amid easing of political tension as many players believed President Abdurrahman Wahid will not face impeachment at Monday's annual session of the People's Consultative Assembly, dealers said. "Normally, the market is under selling pressure on
      AFP  -  676 words
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      68 16 investment pootfouo 11^2^ L<n< Un,lted I IPO. Shares. Bonds. Stocks. Annual Reports, r- f 11 I Whatever you're offering, we help you reach out '"""tr—— 11 I to 86.7% of all adults In Singapore daily. 'BBSS******"* acs*g=ggsr II ®§^SE=i-i— IfL i ii If J jggjjrsaKaaß**"*"' I -taacaKSSS&aaKaV* r 8 I
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  • Article
    Lock icon STOCKS sgx
    9325 17 SGX MADTBOARD Transaction elate:Aug 4 92-Wk List Vei Day Last Quote City Dlv VU N«t Cap Am Jttfh Low Company SH> fOOOl HN> U» Buyer Seller C w fft SmM Price MULTI-INDUSTRY 163 101 m c Atmi SOc US *3 62 116 114 tM nS 5 4 J
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      329 18 Where to wine, dine and entertain..rt<S>tssSA, 1 "Tunch" is the best for lunch and high tea rolled into one. Which means longer serving hours and even more scrumptious spreads. "Tunch" from 12 noon 4.30pm #16.90 (Adult) 40% discount (Child) "Tunch Karaoke" from 12 noon Bpm #22.90* (Adult) 40% discount* (Child)
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      37 18 mm m& a dream of\ A red Mansions a Vangzhou feast at Pine Court Chinese Restaurant 4-12 August 2000 Reservations: 831-6262/66 S Mandarin Singapore WMIVJ 133 Orchard Koad S.ngapore 2 ***** M: 717 4411 Fax: 7)2 2161
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  • Page 18 Miscellaneous
    • Miscellaneous
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      977 18 i aye i u TVF»'f7STi f »U» ;f w: M fgi——^—Central 930 News 5 Tonight. ang 10.02 Singapore Tonight. bm \xi u-iHe r ß ntr,i. Th 10-00 JAG: Nobody's Child. 5.30 Aksi Mat Yoyo. 10.30 Home's Concepts (r). rioß,?<;£ 1100 Mortal Kombat: Con- 0.00 Rahsia Haiwan. 11.00 The World Tonight.
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    • Miscellaneous
      Lock icon Page 18 Miscellaneous Column 2
      282 18 CRYPTIC CROSSWORD ACROSS 1 Board, conscious one has to Houses finished off with a bit of hurry (3,2.4,2) craft (4*7) 9 Used to be wife, before (4) 8 German neighbour is to enclose 10 Keep being amorous, staying her estate (11) very dose (4,3,4) 12 Request for perseverance (11) 11
      282 words
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  • The Arts
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      Lock icon Getting into the act
      1853 19  -  The Arts Festival may have ended but audiences will have more on their platter when various local arts groups stage their own festivals in the coming months. JOYCE KOH and FELICIA YAP find out what are in store JOYCE KOH, FELICIA YAP THE curtains may have
      1,853 words
    • COVER STORY
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        Lock icon Different cuts
        987 20  -  Toy Factory artistic director Goh Boon Teck, who will be directing a Singapore Repertory Theatre play, tells JOYCE KOH why he enjoys working with other theatre groups JOYCE KOH IF you've admired both the romantic staging of A Midsummer s Night Dream by The Theatre Practice and that
        SIEW YAW HOONG  -  987 words
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      Lock icon animal Concerns
      690 21  -  JOHN GEE meets Indon artist Bunga Jeruk who says she is not an animal lover despite her exhibition on the abuse of these creatures JOHN GEE IT all started with a cat. Bunga Jeruk's current exhibition with the theme of animal abuse sprang from an incident one day
      PHOTOS BY SIEW YAW HOONG  -  690 words
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      Lock icon Shades of Myanmar
      801 21  -  By Parvathi Nayar IN Golden Visions, Myanmar artist Min Wae Aung offers his now-familiar pictures of serenity: Buddhist monks, novices and nuns clad in brilliant oranges, pinks and reds, treated in a realistic style, against flat gold backgrounds. While he has painted monks before, it was since
      801 words
    • Article
      Lock icon Womad sponsors hit the right notes
      730 21  -  From HSBC to Starbucks, the music and dance event brings in benefits such as increasing exposure, complementing image Zfy Felicia Yap A NUMBER of companies have eagerly come forward as major sponsors for Womad Singapore, the world music and dance extravaganza this September HSBC
      730 words
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      Lock icon THE PROGRAMME
      1900 22  -  Compiled by M Yasotha MUSIC .Singapore Symphony Orchestra Master Series: Beethoven Piano Concerto Cycle French pianist extraordinaire Pascal Roge returns to enthrall us with his vision of Beethoven's Piano Concerto No 4, a sublime work that in many ways is the composer's most demanding work of this medium.
      1,900 words
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      Lock icon SPOTLIGHT
      262 22 The Buzz: The stars above your head, the grass under your feet and some magical dancing in front of your eyes Plot and Players: Singapore Dance Theatre's Ballet Under the Stars—or BUTS as the fans call it with irreverent affection is back. Started in 1995, the event has proved
      262 words
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      144 19 M) J i < 5 d&< y-* 3-fp f jl7\* n vi* *>' a& *'/*xv '**&+> t' *WKmk ».g. -»i X v s? >-r j. >>% Vr Kg IJy '■''>*'■ 8 *<C V r/' *5 ~'M tf? i- W '•"it /A, Q O A Right Left Back Straightforward 'f- *'jjpSff™
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