The Business Times, 19 August 2000

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Total Pages: 22
1 22 The Business Times
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  • Title Section
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    14 1 TheBusinessTimes MIT A (P) 035/12/1999 85C SINGAPORE Internet: http://business-times.asial .com.sg/ SATURDAY, AUGUST 19, 2000
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  • Article
    Lock icon MARKET SUMMARY
    78 1 sn 245&52 (-21.53) BT-SRI 863.69 (-9.57) ST DtDEX nJTUBES 2474 (-11.00) □smsa FUTUBES 287J0 (-1.40) STOCK HAEEET INDICES Friday Change KLSE COMP 819.69 1.94 NIKKEI 225 16.280.49 +119.46 HANG SENG 17,440.00 -182.01 SET INDEX ,319.22 -358 JAKARTA COMP 494.19 121 MANILA COM P 1,***** +6.83 TAIPEI WPI 8,17(182
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  • Article
    Lock icon FINANCE
    76 1 FOREX RATES us$ ss USS 1.720 £(US4/SS per S) 1.497 2576 EURO(US$/S$/E) 0517 1577 DM 2.133 1.240 YEN 108 J 63.30 RM 3.800 2209 HKS 7.799 4.534 RAHT 41.08 23.88 RUP1AH 8540 4,848 PRIME BATES SINGAPORE* 5.80 KUALA LUMPUR 7.67 JAKARTA .3900 BANGKOK 9.50 MANILA 11.00 HONGKONG 8 50
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  • Article
    Lock icon Maersk shifts its operations from PSA to Johor's Pelepas port
    1074 1  -  It will operate the new port, and draw away 10-12% of PSA's business Byi George Joseph, Eddie Toh in Kuala Lumpur IN a move that may hurt Singapore's position as the world's top container terminal port, Maersk Sealand the world's
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  • Article
    Lock icon Insurance agents may have to disclose fees
    616 1  -  nTiexclusive HAS recommendations expected to enhance transparency, weed ont unethical sales Byi Genevieve Cua [SINGAPORE] Insurance agents are bracing themselves for a radical change in the way they clinch a sale. They may soon have to disclose to prospective clients the commissions they
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  • Article
    Lock icon Maersk will keep regional headquarters in Singapore
    256 1  -  Move to Johor will hit 14 staff, Keppel Group Conrad Raj [SINGAPOREI Singapore will remain the regional headquarters of Maersk Sealand even though it is shifting its transhipment hub from the Republic to the Port of Tanjung Pelepas (PTP) in Malaysia. And only
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  • Article
    Lock icon Johor to build new RM700m water treatment plant
    550 1  -  Move introduces new factor to stalled bilateral talks From] Eddie Toh in Kuala Lumpur PLANS for a new water treatment plant in Johor making the state self-sufficient in water supply may introduce a new dynamic into the stalled talks over a new
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    • ON THE grapevine
      • Article
        Lock icon Occupational hazard
        99 2 ONE common criticism of stockmarket analysts is that they rarely issue "sell" recommendations on stocks. Of course, this is mainly because these analysts don't want to alienate themselves from the firms they cover, or at least that's the worst that can happen. Not so in the US, where
        99 words
      • Article
        Lock icon Ebbis listing prospects on the ebb?
        68 2 WE hear on the grapevine that there are rumblings within the premises of IPO-aspirant Ebbis Pte Ltd. There was talk of lay-offs and walkouts by senior management staff. The real estate services firm, which builds 828 portals, announced bravely in May it would launch
        68 words
      • Article
        Lock icon Cold storage
        53 2 IF you are planning to move your worldly possessions overseas, don't do it at the end of September. We hear on good authority that a number of senior chaps in the movers industry will be chilling out in Anchorage, Alaska, this year's venue for the American Household Goods
        53 words
      • Article
        Lock icon Do your sums again, StarHub
        98 2 PETER Kaliaropoulous, Star Hub's senior vice-president for commercial operations who is leaving, said on Thursday he was optimistic the new phone company could sign up 300,000 mobile subscribers in its first year of operations, or half of what it took Ml four years to do.
        98 words
      • Article, Illustration
        Lock icon Seeing double, for real
        83 2 THE latest copy of property consultancy Knight Frank's newsletter, Aspects of Real Estate, has an interesting item: "Seeing double!" Twin sisters Anne and Irene Law have been the chirpy voices behind the telephones and counters at the consultancy. Irene, who is 15 minutes older than Anne,
        83 words
    • Article, Illustration
      Lock icon Real-time US$ settlement: Singapore expected to follow suit
      430 2  -  HK's launch of the system next Monday won't be big setback for S'pore: bankers By Siow Li Sen [SINGAPORE] Hongkong's headstart in launching a realtime settlement system for US dollar transactions is unlikely to be a huge setback for Singapore as it
      FILE PHOTO  -  430 words
    • Article
      Lock icon New clearing system won't dollarise HK economy
      586 2  -  It provides a more efficient way of settling US$ transactions: HKMA From Quak Hiang Whai in Hongkong THE Hongkong Monetary Authority (HKMA) yesterday dismissed suggestions that the introduction of a real-time US dollar clearing system next Monday would lead to the dollarisation of
      586 words
    • Article
      Lock icon PSA takes Maersk's shift to Malaysia in its stride
      370 2  -  Wong Fong Tze Vice-president (Corporate development) Corporate Development Division PSA Corporation Ltd Thefollowing is PSA's response yesterday to press enquiries on Maersk Sea Land's decision to move its transhipment hub from Singapore to Malaysia's Tanjung Pelepasport. PSA understands that Maersk's move
      370 words
    • Article
      Lock icon Figuring out HK's real-time US$ payment system
      655 2 COMMENTARY Move should reduce pressure on HK$ peg, says larry wee Real-time settlement of US dollar payments and receipts in Hongkong will start on Monday. If it is successful, the move should reduce pressure on the Hongkong dollar's peg to the US dollar,
      655 words
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  • SINGAPORE companies
    • Article
      Lock icon L&M to exit talks if no deal by Sunday midnight
      563 3  -  LINKS ISLAND SAGA Dealing director of Ong&Co Securities said to be missing link By Serena Ng BUSINESSMAN Christopher Kou may soon have to hunt for another "strategic" partner to replace L&M Group Investments in his takeover of Links Island Holdings.
      563 words
    • Article
      Lock icon Inno-Pacific dismisses Soh Chee Wen factor
      670 3  -  J&densworth Holdings' stake in i.inkg Island is just a pure investment, it says By' Ven Sreenivasan INNO-PACIFIC Holdings has denied reports suggesting it is directly involved in the Links Island Holdings saga. BT revealed yesterday Inno-Pac's wholly owned subsidiary Jadensworth Holdings is the sixth
      670 words
    • Article, Illustration
      Lock icon A name with strong links to reclamation works
      437 3  -  By Marissa Chew LINKS Island Holdings is the talk of the town. But until recently, it had kept a low profile throughout its 10-year history, only surfacing late last year when it was ranked 25th among Singapore's 50 most enterprising companies. Links
      437 words
    • Article
      Lock icon SingTel hits 5-month high on foreign shareholding move
      509 3  -  Ihf. Teh Hooi Ling SINGAPORE Telecommunications shares surged 13 cents or 5 per cent to $2.72, their highest level since March, following the company's announcement on Thursday that it is lifting its foreign shareholding limit. The move is seen as a precursor
      509 words
    • Article, Illustration
      Lock icon GK Goh's interim plunges 55.7%
      317 3  -  CORPORATE RESULTS By I Siow Li Sen STOCKBROKER G K Goh Holdings* interim profits fell 55.7 per cent to $15 million as lower stockmarket activity and higher investment costs in technology ate into earnings. Earnings per share for the six months to June 30 fell
      317 words
    • Article
      Lock icon Restructuring boosts Teledata
      241 3  -  Interim profit up 129% to $594,000 despite lower revenues By David Boey A RESTRUCTURING at the Teledata group has helped lift interim earnings 129 per cent to $594,000 despite a 5.2 per cent dip in revenues to $33.1 million. Teledata, a systems integrator listed on the mainboard,
      241 words
    • Article
      Lock icon High liquidity keeps flow of IPOs steady
      1356 4  -  Lots of candidates, say issue managers, making it vital to strike right balance of timing, valuation and issue size Ling Su Ann THE strong flow of initial public offerings is unlikely to slow this year because of the amount of liquidity in the
      1,356 words
    • Article
      Lock icon 15 market makers for S$ int rate contract
      258 5 THE Singapore Exchange Derivatives Trading yesterday said 15 local and foreign banks have committed themselves to be official market makers for its three-month Singapore-dollar interest rate futures contract. From Monday, the 15 market makers will provide twoway quotes on the threemonth contract
      258 words
    • Article, Illustration
      Lock icon Boardroom Ltd gets nod for SGX mainboard listing
      302 5  -  Business service group expects to launch IPO within a fortnight By Bryan Lee BOARDROOM Ltd is set to become the first professional business service group to be listed on the Singapore Exchange, having received in-princi-ple approval for a listing on the main
      ARTHUR LEE  -  302 words
    • Article
      Lock icon Star Cruises signs US$600m refinancing loan
      156 5 AFP LUXURY ship operator Star Cruises pic said yesterday that it had signed a US$6OO million (551.03 billion) loan facility with a syndicate of 16 banks. Proceeds will be used to refinance an existing US$6OO million bridge loan to finance the acquisition of Norwegian
      AFP  -  156 words
    • Article
      Lock icon BOJ's move ends a distortion and 'moral hazard'
      817 5  -  IV.VWk slew! anthony rowley THREE consecutive days of rises in Tokyo stock prices immediately after the Bank of Japan ended its "zero interest rate" policy on Aug 11 hardly suggested that investors were worried about the move. But some analysts fear that
      817 words
    • Article
      Lock icon Small float cited for Sunlight's sharp 30% rise
      226 5 FAST MOVEPS AFX-Asia SUNLIGHT Group Holding Ltd shares were sharply higher compared with their IPO price of 26 cents, with the gains mainly attributed to the company's small public float, dealers said. Sunlight closed yesterday at 34 cents, 30 per cent above
      AFX-Asia  -  226 words
    • Article
      Lock icon IPC moves up on debt revamp plan
      169 5 AFX-Asia IPC Corp Ltd shares closed two cents higher yesterday at 21.5 cents on implementation of a debt restructuring scheme allowing the entry of Infomatec AG into the company, dealers said. Under the scheme, which will be completed on Aug 26, Infomatec will
      AFX-Asia  -  169 words
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      90 3 We provide consultancy services on offshore structures, shelf companies and incorporations in ALL jurisdictions including British Virgin Islands Mauritius Cayman Islands Hongkong Bahamas Samoa Full nominee, management, corporate secretarial and professional administration services are available. We specialize in offshore trusts, offshore banks, and captive insurance companies for qualified applicants. For
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      20 3 Locate its owner through Classification 821 (Found). Simply call CJLT.S. at 1800-737-1166 for this free service. t Another Classified Service
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  • Article
    Lock icon BT SHARE information service
    4767 4 Nat Mm CPS MCL Land Aug 02 I 9.006 13.146 2.40 160 Oat* TY LV TY LY MPH Ltd Jun 19 P 15.973 10.910 6.40 4.30 Company ann <Sm) ($m) (cts) (cti) MarcoPolo Jun 30 P 202.432 80.695 50.8 20.2 Matro Hldqj Jun 27 P 18.300
    4,767 words
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  • SINGAPORE markets
    • Article, Illustration
      Lock icon Banks lead falls as market retreats after 7 straight rises
      566 6  -  l-l I comment STOCKS r.sivanithy AFTER seven straight days of rises the stock market probably needed a pullback and that is just what happened yesterday. As it turned out, the selling pressure was by no means bad. But the Straits
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    • Article, Illustration
      Lock icon Time warrant numbers do not add up to a good buy
      176 6  -  WARRANT WATCH By R Sivanithy BACK In May, Singapore Telecom was about to buy a major stake In Malaysia's Time Engineering for RM6 per share. At the 11th hour the deal got scuttled and since then, Time's shares have
      176 words
    • Article, Illustration
      Lock icon SingTel overbought on the charts
      251 6  -  HOT STOCK By Ven Sreenivasan SINGAPORE Telecoms, the biggest listed company on the local bourse, has been steadily gaining ground in recent days. The stock climbed 13 cents to $2.72 yesterday, the highest close since the end of March this year. The stock is now
      251 words
    • Article
      Lock icon Market Notices
      145 6 ♦MENTOR Media Ltd will be trading ex-dividend (first and final of 0.35 cent) on Sept 7. Last day for buying-in on a cum basis is on Sept 12. Date payable is on Sept 22. ♦Mentor Media Ltd will be holding its AGM and EGM on 1 September at
      145 words
    • Article, Illustration
      Lock icon MSCI re-weightings push regionals back on defensive
      337 6  -  I comment CURRENCIES larry wee A QUIETER session marked end-of-week trading in Asia yesterday, although the announcement of country re-weightings by Morgan Stanley held down certain units versus the US dollar. News that the US investment bank had re-weighted its benchmark global equities
      Source: Reuters  -  337 words
    • Article
      Lock icon Untitled
      494 6 Stock* Volume DairyF 900 US6.56C 62.392,500 SunNghtGrp 10c 30,318,000 SingTel 15c 21,127,000 DBS Land 14,059,000 Nat Elec 10c 12.854,000 ITechGrp4c 12,373,000 NewWave 5c 11,971,000 MediaRing 10c 10,873,000 CytechHK5c 9,899,000 K1 Ventures 10c 9,573,000 Stocks Nat Elec 10c 74,083,230 SingTel 15c 57,878,797 SPH x 52,147,032 DairyF 900 US5.56C 45,188,008 DBSQrp 41,190,184
      494 words
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      Lock icon Page 6 Advertisements Column 1
      33 6 Breaking good news! Fortune is really smiling on job seekers. Sunday RECRUIT in The Sunday Times brings you a feast of career opportunities, on top of your Saturday RECRUIT bumper. Bite into it!
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      Lock icon Page 6 Advertisements Column 2
      50 6 IYOU CAN NOW PUT YOUR CPF SAVINCS IN EICHT important All applications tor units in eiqh'i must he made on the application forms accompanying the prospectus investors must iead the pro.pertus The value of the units iiid the income from rhem may fall as well as rise gji >| -.s>'
      50 words
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  • SINGAPORE news
    • Article, Illustration
      Lock icon Official GDP forecast too conservative?
      379 7  -  I =ft A on the economy outlook By Anna Teo THE official growth forecast of 7.5-8.5 per cent for the year might yet prove "conservative", going by the sustained pick-up in the composite leading index. The nine-component index an indicator of turning points in the
      Source: MTI  -  379 words
    • NEWSRoundup
      • Article
        Lock icon StarHub's free WAP payphone service
        109 7 STARHUB is giving Internet-sawy phone users free use of its new WAP-based interactive service this weekend as part of the promotions for its Star Hub Payphones Interactive Service (SPInS). This service, designed to provide online information and directory services, is said to be the only
        109 words
      • Article
        Lock icon Singapore-NZ free trade pact
        63 7 A FREE trade agreement between Singapore and New Zealand, called the Agreement between New Zealand and Singapore on a Closer Economic Partnership, is expected to come into effect early next year. The agreement aims to lower barriers to trade and investments, and promote commerce between the
        63 words
      • Article
        Lock icon HDB joins EDB programme
        83 7 THE Housing and Development Board (HDB) said yesterday it had joined the Economic Development Board's Local Industry Upgrading Programme, or LIUP. The HDB-LIUP will serve as a means for local companies to better understand the board's specifications and requirements through co-development of various projects. It will
        83 words
    • Article
      Lock icon Award method still being assessed
      75 7  -  Chia Sher Ling Manager Corporate Communication Infocomm Development Authority of Singapore I REFER to the article, "HK undecided on how to award 3G licences" (BT, Aug 17). Contrary to the remark made by SG Securities' Michael Millar, we wish to clarify that the Infocomm Development
      75 words
    • Article
      Lock icon Take charge, plan early; secure your retirement
      267 7  -  MAiLirm Ronald Chong Manager (Public Affairs) Central Provident Fund Board Singapore via Internet WE refer to the letter, "There's need to refocus CPF scheme" by Calvin Yoke Lin Ho (BT, Aug 3). The current CPF scheme has enabled CPF members to save enough
      267 words
    • Article
      Lock icon Singapore Power to build $530m generating unit
      253 7  -  New plant on Pulan Ser&ya expected to come onstream in 2002 Ry Tay Hong Seng SINGAPORE Power subsidiary PowerSeraya is to build a new $530 million generating unit at Pulau Seraya power station. The two-block unit, with a combined capacity of about 740
      253 words
    • Article
      Lock icon Shell pump prices hit 10-year high
      343 7  -  Hikes of 3.3-4.7% posh top grade fuel past $l-50/litre By Christopher Tan MARKET leader Shell yesterday announced it had raised pump prices by 3.3-4.7 per cent, with the top-grade fuel breaching the $1.50 barrier the first time since 1990. Others are expected to follow
      343 words
    • Article, Illustration
      Lock icon TDB gives out awards to 37 local and foreign companies
      323 7  -  By Bryan Lee THIRTY-SEVEN local and foreign companies received awards from the Trade Development Board yesterday, with three collecting the inaugural Approved Cyber Trader (ACT) award. The other awards handed out were Approved International Trader (AIT), Approved Oil Trader (AOT)
      SIEW YAW HOONG  -  323 words
    • Article
      Lock icon Judicial managers confirmed for 2 Sogo companies here
      509 7  -  By Kalpana Rashiwala JAPANESE retail group Sogo is a step closer to winding down its Singapore business under judicial management. The High Court yesterday confirmed the appointment of judicial managers for two of the three Sogo companies that filed for interim judicial
      509 words
    • Article
      Lock icon Court allows JTC to repossess Tang Dynasty City site
      359 7  -  Rttling marks final chapter in saga of Jnrong theme park B>A Kalpana Rashiwala THE High Court yesterday granted permission to Jurong Town Corporation (JTC) to repossess the 12-hectare Tang Dynasty City site in Jurong, a year after its operator. Admiralty Leisure
      359 words
    • Article
      Lock icon Private GPs join scheme to help care for seniors
      365 7  -  By Tan Su Yen PEOPLE aged 65 and over with a per capita household income of less than $700 a month will from Oct 1 be able to see private-sector doctors and pay the same as they would at government polyclinics.
      365 words
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      66 7 We welcome letters. E-mail us at btletter@sph.com.sg or fax us at *****71, or write to: The Business Times, Times House, 390Kim Seng Road, Singapore *****5. We need your full name, address and telephone number, so we can verify it came from you. Please use temperate language, and bear in mind
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  • e-NEWS
    • Article, Illustration
      Lock icon Hutchison pulls out of team that won 'expensive' licence
      694 8  -  GERMAN 36 TELECOM AUCTION It says licence cost is much higher than expected and it prefers 15 Mhz Prom i Quak Hiang Whai in Hongkong LI Ka-shing's Hutchison Whampoa Ltd, which has been on a roll in the global telecoms markets,
      AP  -  694 words
    • Article
      Lock icon Merged firm Terra Lycos plans more purchases of Net firms
      383 8 NEW YORK Lycos chief says its five JVs, including one with Sing Tel, will be floated Bloomberg TERRA Lycos Inc, to be formed when Terra Networks acquires website Lycos Inc, plans to buy other Internet companies and is likely to
      Bloomberg  -  383 words
    • Article
      Lock icon CyberWorks pays US$1m for own name
      124 8 HONGKONG Reuters PACIFIC Century CyberWorks HK, which paid US$2B.5 billion (5548.9 billion) for Cable Wireless HKT, is shelling out US$l million for its own name. A California business services firm called Venture Catalyst Inc, which was previously called Cyberworks and owns the "Cyberworks" Internet
      Reuters  -  124 words
    • Article
      Lock icon US Internet auction sites halt bids to sell votes in US election
      289 8 SAN JOSE, California Bloomberg THE world's largest Internet auction site, EBay Inc, said on Thursday it had halted at least four auctions by people trying to sell their votes in the US presidential election. Yahoo! Inc was also
      Bloomberg  -  289 words
    • Article
      Lock icon Six licences awarded for a total of £30.8b
      666 8 FRANKFURT Good for consumers but worrying for investors: expert Daily Telegraph, Reuters GERMANY'S third-generation mobile auction ended yesterday as the winning bids totalled £30.8 billion (5579.25 billion) £376 for every German man. woman and child. Six of the seven original German bidders
      Daily Telegraph,; Reuters  -  666 words
    • Article, Illustration
      Lock icon Humility, is thy name Li?
      602 8 PEOPLE FT [HONGKONG] Richard Li's first act on walking into his spacious new office in the headquarters of Hongkong Telecom (HKT) is to demand a new one. "It's far too big," says the 33-year-old chairman of Pacific Century CyberWorks (PCCW) who on Thursday completed the
      FT; AP  -  602 words
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      127 8 Since 1975 our worldwide staff of over 275 multi-disciplined professionals I t nclucl n 9 lawyers chartered accountants. y k E chartered secretaries and bankers have J AVj provided confidential and cost effective k J& jU company formation in all the major low I tax including: Incorporation Fees from US$5OO
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  • REGIONAL news
    • Article
      Lock icon Thai stock market and baht fall under MSCI blow
      523 9  -  rrar review Though changes are small, they come at a time when market was expecting MSCI to lift its weightings From Harish Mehta in Bangkok MORGAN Stanley Capital International dealt a blow to the stirring Thai stock market yesterday when it
      523 words
    • Article
      Lock icon Japan's weighting drops in MSCI review
      449 9 TOKYO Minor changes to Hongkong, Malaysia, Korea, Singapore Bloomberg, Reuters MORGAN Stanley Capital International added Fuji Television Network to its Japan Index and deleted 19 other Japanese companies as part of its quarterly review. As a result, Japan's weighting in the MSCI All Country
      Bloomberg,; Reuters  -  449 words
    • Article
      Lock icon More weighting for US technology stocks
      505 9 NEW YORK Reuters US technology stocks will exert more influence over index investors around the world due to Thursday's reweighing of the Morgan Stanley Capital International indices, Henry Fernandez, president and chief executive officer of MSCI Inc, said. MSCI said it was raising the
      Reuters  -  505 words
    • Article
      Lock icon Honda likely to take a major stake in Astra business
      423 9  -  Exclusive SINGAPORE ItmaypayUSs9om for 50% of the Honda motorcycle business By Christopher Tan IN a move to participate more actively in the Indonesian vehicle market, Honda Motor of Japan is likely to buy into a major interest of Astra International
      423 words
    • Article, Illustration
      Lock icon Sticking up for patriotism
      63 9 [KUALA LUMPUR] A driver in Kuala Lumpur yesterday pasting a car sticker with Malaysia's flag and the words 'For You Malaysia' on the rear car screen. The government has urged Malaysians to put up stickers and fly the national flag as a sign of patriotism throughout
      AP  -  63 words
    • Article
      Lock icon Dr M not responsible for Anwar's arrest under ISA: SM Lee
      340 9 SINGAPORE SENIOR Minister Lee Kuan Yew said on BBC World Service yesterday that it should be made known that Malaysian Prime Minister Mahathir Mohamad "was not responsible for Anwar's arrest under the Internal Security Act (ISA) nor was he
      340 words
    • Article
      Lock icon Idris shares tumble over overhaul plan
      227 9 KUALA LUMPUR Reuters SHARES in Idris Hydraulic Bhd tumbled yesterday after news of a restructuring which would leave a nephew of Malaysia's Finance Minister Daim Zainuddin in control of the property and insurance group. Under a proposed US$l92 million (*****.24 million) debt overhaul, Idris's
      Reuters  -  227 words
    • Article, Illustration
      Lock icon Mahathir defends special rights of Malays
      412 9 KUALA LUMPUR AP DEFENDING Malaysia's affirmative action policy for ethnic Malays, Prime Minister Mahathir Mohamad yesterday asserted that the special privileges they enjoy are not open to debate. The policy, a cornerstone of governments dominated by the United Malays National Organisation for decades, has
      AP; FILE PHOTO  -  412 words
    • Article
      Lock icon 25 ministers at the most, says Gus Dur
      457 10 JAKARTA Pruned Cabinet to be nnveiled on Wednesday at the earliest AFP, AFX-Asia INDONESIA will announce next week a cabinet line-up which will have 25 members at the most, compared to the current 35, President Abdurrahman Wahid said yesterday. "For the upcoming
      AFP,; AFX-Asia  -  457 words
    • Article
      Lock icon Indon military win concessions from MPR
      401 10 JAKARTA Top assembly passes decree allowing TNI to retain nntil 2009 their 38 seats AP INDONESIA'S disgraced military emerged yesterday as the big winner of this year's meeting of the top legislative body, staving off demands to get out of politics and receiving a
      AP  -  401 words
    • Article, Illustration
      Lock icon Keeping the peace
      90 10 [J AKART A] Members of Indonesia's anti-riot police counting their bullets as they prepared to ensure security on the last day of the annual session of the People's Consultative Assembly (MPR), the nation's highest legislative body, in Jakarta yesterday. Meanwhile, thousands of workers, party activists and students
      AFP  -  90 words
    • Article
      Lock icon Kerry Prop interim profit falls 8.6% on higher costs
      334 10 HONGKONG Bloomberg, AFX-Asia KERRY Properties Ltd, one of Hongkong's largest real estate developers outside the Hang Seng Index, said firsthalf profit fell 8.63 per cent because of increased operating and finance costs. The company earned HK$6O3 million (*****.72 million), or 54
      Bloomberg,; AFX-Asia  -  334 words
    • Article, Illustration
      Lock icon Sri Lanka announces general election on Oct 10
      291 10 COLOMBO AFP, Reuters SRI Lankan President Chandrika Kumaratunga yesterday dissolved Parliament and announced a general election for Oct 10, effectively cancelling plans to reform the electoral system. Mrs Kumardtunga used her executive powers to dissolve the 225-member national legislature six days before
      AFP,; Reuters; REUTERS  -  291 words
    • Article
      Lock icon Pak Ngah's death
      722 10  -  VMJdsIM journal karim raslan The writer is a KL-based lawyer and author WE buried Pak Ngahon Aug 8. At the time, I didn't realise that we were also paying our last respects to the Malaysia that he —my 70-year-old foster father represented. As we carried his body
      722 words
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      238 10 EXECUTIVE APPOINTMENTS t ill (011-lm ISOO--41 ISN <* I ,i\ \n: "41 I2'»S I Singapore I I MP Holdings I I THE BUSINESS TIMES I I SHIPPING TIMES I jg Ports, yard§ and shipping lines. Shippers and freight forwarders. Brokers, salvors H iff and charterers. H W: Do they mean
      238 words
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  • WORLD news
    • Article
      Lock icon AT&T, British Telecom talking merger: report
      463 11 TELECOMS SHAKE-UP LONDON Chiefs of both firms have held talks on creating a telecoms giant, says Journal Reuters THE chiefs of telecom giants AT&T Corp and British Telecommunications were yesterday reported to have discussed the prospect of formal merger talks to create a new
      Reuters  -  463 words
    • Article
      Lock icon Radical changes at Deutsche Telekom
      303 11 COLOGNE, Germany An entire layer of 2,000 employees to be redeployed FT DEUTSCHE Telekom, Germany's former state telecommunications monopoly, is about to undertake what a high ranking Telekom manager called "the most radical restructuring since Ron Sommer's arrival in 1995". Ron Sommer, chief executive, plans
      FT  -  303 words
    • Article, Illustration
      Lock icon Aladdin gives Las Vegas new shine
      65 11 [LAS VEGAS] The Aladdin Hotel and Casino is the latest mega resort to open on the famous Las Vegas Strip. But just hours before more than 600 invited guests and a crowd 0f20,000 were due to arrive at the hotel's opening on Thursday, workers
      AP  -  65 words
    • WORLDWatch
      • Article
        Lock icon ABN Amro H1 net up 13%
        90 11 Reuters [AMSTERDAM] Dutch bank ABN Amro NV on Thursday reported half-year net profit of 1.625 billion euros (552.6 billion), a 13 per cent rise from 1.438 billion euros in the year-ago period and in line with analysts' forecasts of 1.6 to 1.7 billion. It
        Reuters  -  90 words
      • Article
        Lock icon Korean telecom H1 profits soar
        87 11 Reuters [SEOUL] South Korea's state-run telecom company net profits skyrocketed to 596.2 billion won (Ss9l9 million) in the first half of2ooo, up 464 per cent from the same period in 1999. Korea Telecom attributed the rise to rapid growth in data communications and high-speed Internet
        Reuters  -  87 words
      • Article
        Lock icon Euro zone inflation is steady at 2.4%
        74 11 AFP [BRUSSELS] Inflation in the 11EU member states that use the euro currency was 2.4 per cent in July over 12 months, unchanged from the 12-month figure the previous month, the EU statistics agency Eurostat said yesterday. In all 15 nations of the
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      Lock icon Suicides in Japan hit record high as economic woes persist
      347 11 TOKYO Reuters A RECORD number of Japanese killed themselves last year, with debt or job loss blamed for about one in five of the more than 33,000 suicides, police said in a report carried by Japanese media yesterday. Reflecting persistent
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      Lock icon Fed may hike rates by year-end, say analysts
      680 11 WASHINGTON All agree it will hold rates on Tuesday bat are divided on year-end forecasts AFX THE Federal Reserve will keep interest rates steady at Tuesday's policy meeting, but the tightening may not be finished for the year, analysts said. "The Fed
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      Lock icon US June trade deficit widens to record US$30.6b
      538 11 WASHINGTON Soaring oil prices offset gains from stronger exports THE US trade deficit climbed to a record U5530.62 billion (5552.7 billion) in June as soaring oil prices offset the benefit from stronger exports, while bilateral gaps with China and Canada hit new
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      Lock icon Defender of working Americans
      946 12  -  MEWS ANALYSIS A 1 Gore strikes a populist pose, distances himself from Clinton, and supports 'fair trade' and labour standards From. Leon Hadar in Washington BIG business beware. Vice-President A 1 Gore, interjecting a populist us-against-them message into the presidential race, has portrayed himself as "a
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      Lock icon US press gives Gore's speech mixed reviews
      334 12 WASHINGTON Oratorical skills criticised but grasp of issues landed AFP VICE-PRESIDENT A 1 Gore's attempt to get US voters to accept him as his own man and focus on the issues of the presidential campaign was met with mixed reviews by leading US
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      Lock icon Asian Americans hope to play a key role for Gore
      627 12 LOS ANGELES They account for 10% in 41 congressional districts ont 0f435, np from 28 in' 96 AFP THEIR numbers may be small, but Asian American Democrats hope to play a key role in making A 1 Gore the next
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      Lock icon the short, the fat & the ugly
      584 12 the short, the fat the ugly In the US, looks const in the corporate jungle FT [NEW YORK] In 1996, nine bellmen were fired from the Mondrian Hotel in Hollywood because managers said they weren't "cool" enough to work at the hip, newly-renovated venue. A few years earlier, a woman
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      58 11 I Clean out that insectW L l p. infested store room of J yours by turning your M "junk" into cash m through a garage sale! A Call 1800-737 1166 f I today to turn those big y k 1 bugs into big bucks! J Classification 158 iMI I Garage
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  • FINANCE & commodities
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      Lock icon STI futures slip in quiet trading
      329 13  -  SOI Derivatives Tradlng/feporfe ST Index/MSCX S'pore Index Chan Yet San Refco Singapore THE Singapore stock market had a day of profit-taking to end its rally yesterday. The Straits Times Index lost 21.53 points or 0.98 per cent to close at 2,185.52 points. Within the
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      244 13  -  MS& Taiwan Index Chan Yet San Refco Singapore THE Taiwan stock market ended the week yesterday with its fourth straight day of gains. The MSCI Taiwan Index rose 1.67 points or 0.46 per cent to setUe at 363.23 points. A total of 984.1 mUlion index
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      Lock icon Oil price rises on output freeze
      198 13 ENERGY REPORT Reuters [LONDON] Buoyant oil prices bubbled higher again yesterday with dealers now sure that Opec win not consider raising supplies again until a Sept 10 ministerial meeting. London Brent futures gained 72 US cents in early business to US$3O.BB a barrel and
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      334 13 Reuters London THE US dollar was bolstered against the euro and the yen yesterday after the revision of a benchmark global equities index overnight favoured US stocks at the expense of Japanese and European holdings. The yen was undermined as the reweighting in Morgan Stanley Capital International's widely-used
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      1321 13 nmaBAMt CROSS RATES Bm6 Euro Ffr Dfn HK$ Ind 8i Bupiah Yen Won RM HZS Pafc Rs PtM S$ Rand Sfr HT$ Bafct Pomi US$ ciST 1U1 875 cS 27.212 49.477 0.646 6.615 2.254 U12 32.107 26.690 1.020 4.093 1.012 18.436 24.371 0J96 0593 22? n 5 631 4853 1447
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      1877 13 SICOM FUTURES a ug is RUBBER (futures closing is at 5.30pm) RSS1 cents/kg) ClOM Volume OpM Month Hj$* Low Sttt (tomes) hrtertst s«p oo I irTrs Oct 00 113.25 Nov 00 114.50 DOC 00 115.75 RSS 3 CONTRACT (US certs/kg) VoluiM Open Low Sett (towns) Interest SepOO 6400 TI5 Oct
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  • STOCKS east asia
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      Lock icon Hutchison slide on 3G licence pulls Hang Seng down 1.03%
      2871 14 HONGKONG Reuters Q Hang Seng -***** HONGKONG stocks ended down 1.03 per cent yesterday as Hutchison Whampoa's decision to withdraw from a consortium that had just won a third generation mobile phone licence in Germany weighed heavily on the index.
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      Lock icon CHINA
      1029 14 Reuters nShenzhenßlndex -0.77 CHINA shares closed mixed yesterday, with Shanghai's B shares rising to a 34-month high on sustained hopes of market reforms. The Shanghai B share index reversed earlier losses to end up 1.97 per cent at 78.23 points on slightly lower turnover of U5549.64 million. The index
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      372 14 AFP QVP Index *3257 TAIWAN share prices closed 0.4 per cent higher yesterday in active trade following Wall Street's overnight gains and on a positive outlook for the technology sector, dealers said. The Taiwan Stock Exchange weighted price index climbed 33.57 points to 8,176.82 points, on a turnover of
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      Lock icon Tokyo shares edge up in thin trading
      2016 14 TOKYO AFP Hwfctaias ****** TOKYO share prices edged up 0.7 per cent yesterday but a lack of fresh leads sidelined most holiday-minded investors ahead of the weekend, brokers said. The Tokyo Stock Exchange's key Nik-kei-225 index closed 119.46 points higher at 16,280.49 per
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  • STOCKS klse
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      Lock icon M'sian stocks edge lower on profit-taking
      432 15 AFP Q Composite Index -L 94 MALAYSIAN shares closed 0.2 per cent lower yesterday as investors cashed in ahead of the weekend, dealers said. The Kuala Lumpur Stock Exchange Composite Index fell 1.94 points to finish at 819.59 points. The Second Board Index lost
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      8713 15 INDUSTRIALS ConsuiMf products 2000 Last Vat Day Nat Cap High Lew Compcny Sale OOO High Law P/E Smll 420 310 Ajinomoto 340 (8.6 137.0 158 62 Angkasa 68 -3 14 70 68 100.3 670 290 Apollo Food Hlg 464 2 S 466 464 10.1 185 6 3725 2700 BAT 50c
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  • SGX clob & regional stocks
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      3198 16 BONDS A WARRANTS Mats tnmj Ufkj U W—t Imt M tor LhMiiIi HM tan Inr OtK MM u» C Mi Mr- rwi WM If" N« WilWi Ma MM UR 51.5 12.5 s AcmaW*****4 14.5 unch 32 14.5 14.5 14.5 15 14 41.0 I 300 169 8.07 11 38 4 >
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      Lock icon BANGKOK
      764 16 AFP Q SET Index -3L28 THAI shares fell one per cent yesterday due largely to Morgan Stanley Capital International's decision to reduce the weighting of the Thai market in its widely-followed indices, dealers said. The Stock Exchange of Thailand (SET) Composite Index fell 3.28 points to finish at 319.22
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      Lock icon MANILA
      277 16 AFP f% Composite Index +&83 PHILIPPINE stock prices ended 0.5 per cent higher yesterday, dealers said. The Composite Index rose 6.83 points to close at 1,506.57. Turnover fell to 2.13 billion shares worth 1.21 billion pesos from 5.37 billion shares worth 1.24 billion pesos on Thursday. —AFP Naa 1HC1
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      Lock icon JAKARTA
      693 16 AFP Composite lata -121 INDONESIAN share prices dipped 0.5 per cent in thin trade yesterday as investors awaited a planned Cabinet reshuffle which has been delayed to late next week, dealers said. The Jakarta Stock Exchange Composite Index closed down 2.21 points at 494.19 points, on a volume of
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      Lock icon WELLINGTON
      268 16 AFP □NgE-40 jW NEW Zealand stocks yesterday closed down 1.2 per cent on weakness in market leader Telecom New Zealand, dealers said. The NZSE Capital 40 index was down 26.54 points at 2,125.13. Total market turnover was worth NZ5205.4 million.—AFP to|N US (OOP) Advantage HOS 2.87 unch S3 Air
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      Lock icon SYDNEY
      544 16 AFP riADOrdmirieg *&5 shares edged 0.2 per cent higher to another record close yesterday, led by a resurgent News Corp, brokers said. The All Ordinaries Index rose 6.5 points to 3,303.5 while the SP/ASX 200 index rose 7.9 points to 3,344.2. Turnover came to 550.7 million shares worth Asl.4
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      Lock icon SEOUL
      313 16 AFP □Composite Index -ISJ7 SOUTH Korean shares fell 2 per cent yesterday with the Composite Index down 15.17 points at 728.32; 274 million shares were traded. AFP taftt A rum S»ml T1100 100 Br tin T#ch S70 -35 Central Bank 705 -65 Chtfl Coram *****0 2500 Dm Cm 1090
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    Lock icon STOCKS sgx
    9862 17 SOMUMBOARD Transaction date:Aug 18 Gr Gr M Wt 52-** Last Val Day Last Ouate M« Mv YM Net Ca Avg l— Company Sata C000) Ml» Law Bwyaf Se«ac C'w P/I Smii Price MULTI-INDUSTRY 163 101 m c Acme 50c 117 *2 53 117 114 116 117 5 4.3
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      239 18 Where to wine, dine and entertains Select from our extensive a la carte buffet menu featuring 60 superb Sichuan and Cantonese gourmet delights. Lunch: #23 (Adult), 40% discount (Child) Dinner: #26 (Adult), 40% discount (Child) For reservations, please call 290 8005/299 9011. Prices subject to service charge &govt. taxes including
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      99 18 IITHE ORIGINAL RECIPEI 0 Crown Prince Hotel Mooncake 12 August 12 September 2000 Ifr HK£ Mm Other retail outlets: Crown Prince Hotel 12 August -12 September Change Alley, Raffles Place 21 August -12 September Century Square, Tampines 25 August -12 September Hougang Mall, Hougang 1 September 10 September Junction 8,
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      750 18 h'HIHI'ieIMMWWIWIIMM Ckatral 4.00 Identiti. ujOO The World Tonight. —r— |»■u, 8-00 AM Kids Central: The 9™ Jao 48 Hours vsll i. Big Bug Show ,nnn Vap il 1 1 M ?l Yoya AM Inside Edition. BflirY BlliSW Little Hippo. £22 I*2 Rahsia Haiwan. LOO Headlines. MO Hip-0 And Friends. Mortal
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      302 18 CBTPTIC CROSSWORD ACROSS 7 Actor's article on touring Spain 1 Wave flag that takes the bis- cuit (8) 8 Dangerous animal making par--5 In concert, note held briefly (3,3) effective (3-5) 9 Virtuous exclamation? (8) 11 Finish second best (4) 10 Check reliability of broadcast (6) 15 Writer given one's
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  • TheArts
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      Lock icon sportlight on arts
      716 19  -  The curtain goes up on the Sydney Olympics Arts Festival which promises six weeks of visual arts, music, theatre and dance lasting the duration of the games. PARVATHINAYAR provides a sneak preview PARVATHI NAYAR LINKING sports and arts might once have sounded like an odd marriage but
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      Lock icon Spending time with the Spirits
      656 20  -  Ong Keng Sen's take on Kuo Pao Kun's The Spirits Play leaves farvathx mat ah with divided reactions PARVATHI NAYAR DECONSTRUCTING Kuo Pao Kun's The Spirits Play, Theatre Works' Ong Keng Sen arrives at an intriguing performance that he subtitles Six Movements in a Strange
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      Lock icon Different takes
      945 20  -  COVER STORY Parvathi Nayar "the 50 visual exhibitions at the festival," says Leo Schofield, artistic director, Sydney 2000 Olympic Arts Festival, "are a banquet of the visual arts." The art and artefacts on display include, "three virtually priceless loans from overseas: The Dead Sea Scroll from Israel, the
      PHOTO OF UTE LEMPER BY DECCA/MIKE GWEN PHOTO OF BANGARRA DANCE COMPANY BY GREG BARETT  -  945 words
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      Lock icon BT journalist to cover Olympic arts fest
      181 20 The Business Times will be covering the Sydney Olympics Arts Festival under the Australian Cultural Awards Scheme (CAS) scheme. Journalist Parvathi Nayar has been selected as the Singapore representativeto cover the festival. The other four selected are from Hongkong, India, Thailand and New
      181 words
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      Lock icon Notes of success
      1020 20  -  FELICIA YAP The Philharmonic Chorus stands out with a wide repertoire and deep commitment FEUGU YAP reports RIDING on a high after their recent success at the Bela Bartok XIX International Choir Competition in Hungary is The Philharmonic Chorus, a home-grown chamber choir that has made big
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      Lock icon Womad treats for the soul
      456 21  -  Byr John Gee VISITORS to Womad 2000 can treat more than just their eyes and ears. Close to the music stages at Fort Canning will be the Global Village, where food, drinks and Womad-related goods will be sold. Within the Global Village itself will also
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      Lock icon Voices of China
      1013 21  -  The Three Chinese Tenors may have to bear inevitable comparisons with their Western counterparts but they tell johm gee that they have set their sights on greater plans JOHN GEE THEY first came together for one performance in 1993, but the Three Chinese Tenors are already thinking
      CHRIS LOH  -  1,013 words
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      Lock icon THE PROGRAMME
      1394 22  -  Compiled by M Yasotha MUSIC Singapore Symphony Orchestra The Three Chinese Tenors A fund-raising concert in support of the Singapore Symphony Orchestra. Tenors Hao Zhou, Yie Kun and Wei-Li Xing present a programme of famous Italian and Baroque arias, Chinese folksongs and modern favourites. Conducted by Bart Folse.
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      Lock icon Spotlight
      260 22 Hie Buzz: Blood is about to be shed in the name of art at Waterloo Street... Plot and players: Is art worth fighting for? That's an idea that will be examined tongue-in-cheek with a few serious flavours thrown in at battle@waterloo: Fighting for Arts Sake, presented by Es-planade-Theatres on
      260 words
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      Lock icon Reel ideals
      718 22  -  parvathi MATAit gets a glimpse of what fires short-film maker Royston Tan PARVATHI NAYAR WHAT'S it like to be young, read idealistic, and make short films in Singapore? Well, Royston Tan, 23, has discovered it means finding creative ways about being creative. Whether it's sneaking into deserted carparks
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      Lock icon Young minds at play
      432 22  -  Works about life on an imaginary planet from a recent sculpture carnival show fertile imagination Hy, John Gee Earlier this year. Sculpture Square with the voluntary help of 76 arts students and 12 professional artists held a four-day sculpture carnival for children. The aim was to
      432 words
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