The Business Times, 26 August 2000

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Microfilm: NL21903
Total Pages: 22
1 22 The Business Times
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  • Title Section
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    15 1 THE BUSINESS TIMES Q3SO2/1999 86* SINGAPORE r Internet: http: /business-times.asial com.sg/ SATURDAY, AUGUST 26, 2000
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  • Article
    Lock icon MARKET SUMMARY
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  • Article
    Lock icon FINANCE
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  • Article
    Lock icon CAD to probe UOB's role in eWOS IPO
    772 1  -  SGX considers banning companies from subscribing for shares in IPOs which they are underwriting By\ Siow Li Sen [SINGAPORE] White-collar crime busters from the Commercial Affairs Department (CAD) are investigating UOB Asia over its role in the eWorldofSports.com initial public offering (IPO)
    772 words
  • Article
    Lock icon Remisiers want fixed fees for lower-value retail trades
    506 1  -  |-i iexclusive Sflftking minimum fun of $30, it sayssMie orderliness needed By Ling Su Ann [SINGAPORE] The Society of Remisiers (SOR) has written to all the stockbroking firms proposing a standard system of charges for broker-assisted trades. Yap Swee Hoo, president of
    506 words
  • Article, Illustration
    Lock icon Govt wants its DBS stake diluted over time: Olds
    624 1  -  Net time to go yet, bnt three candidates being groomed to be his successor By I Catherine Ong [SINGAPORE] The government is not actively looking for a buyer for its 39.7 per cent stake in DBS Bank but wants the bank
    624 words
  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      112 1 t-i m j 5 'I 1 .J, ■MB Tlm Arts msk Music maestro and public speaker Benjamin Zander on Ns informal styfe of conducting and how it applies in leadership roles. BL 9 S*pore R&D Singapore companies raised R D spending 6.6% last year to $2,660. Mextftag* ill 1 Commentary:
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      Lock icon Page 1 Advertisements Column 2
      6 1 an Asian-inspired Em Arts Back Page
      6 words
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      Lock icon Page 1 Advertisements Column 3
      7 1 Excerpts of John Olds' question-and-answerforum, Pg 5
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      Lock icon Page 1 Advertisements Column 4
      295 1 eWOS debacle More reports Pg 3 Hock Lock Sievv: Shaking things up a little Legal experts views Market watchers views B UOB shares down 3 7°c P Full text of BG Lee s statement What Section 99 of Securities Industry Act says From the latest e-business I insights to the
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  • NEXT page
    • Article, Illustration
      Lock icon HK posts strong 10.8% Q2 growth
      936 2  -  Fall-year forecast raised 2J5 points to &5%; economists say East Asian recovery well on track though risks remain Front' Quak Hiang Whai in Hongkong EAST Asian economies continue to power ahead as Hongkong yesterday unveiled a 10.8 per cent growth in the second quarter
      AFP  -  936 words
    • Article, Illustration
      Lock icon S'pore firms R&D spending up 6.6% to $2.66b in '99
      487 2  -  Total spending could hit 2% of GDP by next year By\ David Boey [SINGAPORE] Singapore companies raised their research and development spending 6.6 per cent last year to $2.66 billion. Figures on the 1999 R&D scene, released yesterday by the
      487 words
    • Article
      Lock icon What matters most in the numbers
      657 2  -  jukuunMilM yOOMMHKWUIKm The NSTB's report card tells an impressive story of R&D growth. New, ados Kenneth James how can that story become compelling? Kenneth James Hundreds of Singaporeans who turned up to listen to Buddhist nun Tenzin Palmo a week ago are not likely
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    • ON THE grapevine
      • Article
        Lock icon Stock gems are out there
        86 2 FOR those who've found it hard to make money in the stock market this year, you just have to look harder. According to fund manager Dennis See, there is always something that doubles in price every year. Mr See's Global Equity Momentum Fund tripled last
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      • Article
        Lock icon Higher degrees
        134 2 THE paper chase does not stop once you've made your millions, it seems. Property magnate Kwek Leng Beng, who heads the Hong Leong group, received an honorary degree from Oxford Brookes University yesterday at The Hour Glass Scholarship award ceremony. Meanwhile, former airline stewardess Jacely Koh Khim Tian
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      • Article
        Lock icon A website to die for
        104 2 A FIRM of undertakers from Bradford, UK has just scooped a prestigious Internet award sponsored by the UK's Institute of Directors. The Electronic Business Transformation Awards are intended to recognise e-business excellence annually. Top prize did indeed go to a typical New Economy online conferencing
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  • eWOS ipo
    • Article
      Lock icon UOB defence not difficult, say lawyers
      656 3  -  They say the eWOS IPO bank had met minimum disclosure standards and supplied correct information By Serena Ng LAWYERS said yesterday United Overseas Bank might not have too hard a time defending itself against any charge over its disclosure in the eWorldofSports.com (eWOS) initial
      656 words
    • Article
      Lock icon UOB down 3.7% amid CAD probe
      262 3 ZfyßBlvmiiit!iy UOB shares lost 3.7 per cent the biggest percentage loss by any bank yesterday as it was revealed that the Commercial Affairs Department is probing UOB Asia's handling of the eWorldofSports IPO. Dealers said the announcement of the CAD probe could have given
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    • Article, Illustration
      Lock icon A deficiency in judgement
      1400 3 We reproduce below the full text of DPMLee's reply to a question on eWOSfrom Lim Hwee Hua, MP for Marine Parade GRC. Question: To ask the Deputy Prime Minister, in light of the recent unsatisfactory handling of the eWOS initial public offer, if the Government will
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    • Article
      Lock icon Shaking things up a little
      538 3  -  lll'VHlocksiew r sivanithy AFTER the Singapore Exchange (SGX) reprimanded UOB Asia for its handling of the eWorldofSports IPO and even after UOB Asia publicly apologised, there were still rumblings of discontent in several quarters that the bank had perhaps got away too lightly. Many observers
      538 words
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  • SINGAPORE companies
    • Article, Illustration
      Lock icon Li's remarks send SingTel to 7-month high
      381 4  -  Analysts divided on whether company is fairly valued now; it gains 15C to $2JO By Teh Hooi Ling SINGAPORE Telecommunications shares surged 15 cents to a seven-month high of $2.90 yesterday after Hongkong tycoon Li Ka-shing commented that he is keen on taking
      381 words
    • Article
      Lock icon Delay in US Army's job could be a plus for ST Engg
      404 4  -  By David Boey US DEFENCE officials have thrown some light on the delay of a multi-billion dollar armoured vehicle contract that had unnerved some ST Engineering investors. Ite Singapore-listed company is one of the contractors bidding for the
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    • COMPANY Briefs
      • Article
        Lock icon Boardroom prices IPO at 39 cts a share
        113 4 PROFESSIONAL business service group Boardroom Ltd yesterday launched its initial public offer (IPO)of 36 million new share* at 39cents each. The shares, which are priced at 9.3 times earnings for the year ended June, will raise about million. Boardroom's core boeinees is
        113 words
      • Article
        Lock icon Shangri-La Asia's interim down 27%
        85 4 (HONGKONG) Shangri-La Asia, one of the region's largest luxury hotel operators, said profit for the first half fell 27 per cent to US$2O.2 million (S|34 million) as a one-time charge cancelled the benefit of higher room charges and occupancy. Sales rose 80 per cent to
        85 words
      • Article
        Lock icon JEL posts 82% lower first-half earnings
        63 4 JURONG Engineering Ltd yesterday reported a 82.3 per cent plunge In interim net profits to $2.2 million. Revenue for the period ended June 30 fell 30.9 per cent to $111.7 million. Earnings per share tumbled from 29.8 cents to 5.28 cents, while net tangible
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      • Article
        Lock icon WBL defers listing of M-Flex
        76 4 WBL Corp yesterday is postponing the listing of its subsidiary, M-Flex Singapore Pte Ltd (MFS), to the first half of2ool. The profbrma group for the purpose of the listing consists of MFS, Multi-Fineline Electronix Inc, and their respective subsidiaries and Wearnes Greatwall Circuits Co Ltd
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    • Article
      Lock icon No sand deal for Starfort
      154 4 PT Sinar Timur Utama Indonesia yesterday denied having signed a contract to sell sea sand to Singapore-based Starfort Corp but confirmed it had a preliminary agreement with the L&M group. In a statement issued through its Singapore lawyers, the Indonesian company said it had "not
      154 words
    • Article
      Lock icon Half of 62 IPOs this year were tech stocks
      1492 4  -  Construction sector, with 9 issues, was a poor 2nd; only 17 of the 31 tech stocks are trading above offer price ls, Ling Su Ann THE market for initial public offerings is becoming technology heavy, with half of the 62 IPOs
      1,492 words
    • Article, Illustration
      Lock icon Stanchart exec leaves to join Investec in HK
      395 4  -  By Ven Sreenivasan STEWART Aldcroft is leaving Standard Chartered Bank and Singapore to head a Hongkong-based asset management company. Mr Aldcroft, who heads the bank's business development and marketing unit here, is joining Investec Asset Management Asia as its managing director of
      395 words
    • Article, Illustration
      Lock icon School's done, time for some action
      1631 5 John Olds, DBS vice-chairman and CEO, addressed the Foreign Correspondents Association at a luncheon meeting yesterday. Here are excerpts of the Q&A session. Qt Last year, you talked about the need to make big acquisitions rather than small ones. Are you still thinking that
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  • Article
    Lock icon BT SHARE information service
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  • SINGAPORE markets
    • Article, Illustration
      Lock icon STI falls but indicators show correction may be over
      562 6  -  11 comment STOCKS r. sivanithy THE local stock market finished weaker for the third straight session yesterday, but dealers took heart from a late bounce that picked the Straits Times Index off its floor. Also indicating the correction may be over,
      562 words
    • Article, Illustration
      Lock icon SingTel wrt: time, poor liquidity work against it
      204 6  -  WARRANT WATCH By R Sivanithy SINGAPORE Telecom has leapt Into the buy lists of fund managers over the past few months. One reason is the optimism created by the announcement that the company would allow greater foreign shareholding. We would hesitate to
      204 words
    • Article, Illustration
      Lock icon UOB retracement a buying opportunity
      232 6  -  HOT STOCK By 1 Ven Sreenivasan IT has been a bad week for United Overseas Bank. First, BT reported about the departure of its long-serving president Ernest Wong on Thursday. Then yesterday. Deputy Prime Minister Lee Hsien Loong revealed that the bank was being investigated
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    • Article
      Lock icon Market Notices
      138 6 ♦QUL Tech announced that comprises of 66.9 million million new ordinary shares at an issue price of $0,186 for i each warrant on the basis of J one warrant for every four ordinary shares. ♦Chuan Hup's shipbuilding associate, Asia-Pac Geraldton has bagged a contract to bufldk* 20 high-speed
      138 words
    • Article, Illustration
      Lock icon Little sign of profit-taking from short-sellers
      312 6  -  l< comment CURRENCIES larry wee ASIAN foreign exchange players took a breather yesterday after the most hectic week for a long time with few signs that those who had sold currencies like the euro or Australian dollar were in any hurry to trim their
      Source: Reuters  -  312 words
    • Article
      Lock icon Untitled
      390 6 Stocka Votume STEngglOc 15,367,000 SlnoT«M6c 15.364.000 Brtartay NZ10o 10.369.000 M«dt-Rad5c 9.781,000 Chip EngSang 5c 8,606,000 U«OOHGb»10C 7,980,000 IPC020TL. 7,541,000 ITachGip4c 5,837,000 QoocftMCklC 5,382.000 S1A 4,086.000 Hooto 8 StA Z. 69.706,486 UOB 44,044,118 SlngT«M5c 43,408,331 STEngglOo 37,237.530 CKyDav50c 31,124,064 068 Gip 26,687,604 NatBaclOc 22,374,500 PacMcCantury... 21,336,700 0C8C 19.880,700 Chart SamlConduclor 28c
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      Lock icon Page 6 Advertisements Column 1
      195 6 •f The movers and shakers of "**?f shipping are sailing into i tr f Singapore in September for f|pp W MARTECH 2000 -an f A International Conference and Exhibition on ■PHP* "Shipping Trends in the New Millennium". And Shipping Times will be I running a Special Feature II covering the
      195 words
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      Lock icon Page 6 Advertisements Column 2
      54 6 YOU CAN NOW PUT YOUR CPF SAVINGS IN EIGHT Important All ipplii.itioir mi un,t m »n nui't miclf cm tli' ippli '"in tnipr .lccomp.mvinn pio p. 'u i>w < i nurt i< Kl th> pi" p»•'in ti>. iite *n. unit wi rIK if, '"v t.'-i" -iv in mi, n i
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  • SINGAPORE news
    • Article
      Lock icon Directorships give civil servants valuable experience
      607 7  -  PARLIAMENT Rules being reviewed to achieve flexibility while upholding integrity of public service By Audrey Tan CIVIL servants gain invaluable experience from sitting on the boards of private sector companies, and the distinction between whether these companies are government-linked or not will become less
      607 words
    • IN Brief
      • Article
        Lock icon Electrisity rates up with cost er fuel
        136 7 SINGAPORE Power (SP) has raised the average electricity tariff 16.80 cents per kilowatt-hour—or 44 per cent—since the start of this year But Trade and Industry Minister George Yeo told Parliament yesterday the increase was due solely to fuel costs, which have risen 100
        136 words
      • Article
        Lock icon Law to protect industrial designs passed
        55 7 PARLIAMENT yesterday passed the Registered Designs Bill, which creates a local registration system to protect industrial designs. Designs will no longer have to be registered in the United Kingdom to enjoy protection in Singapore. Minister of State for Law Ho Peng Kee said this
        55 words
      • Article
        Lock icon Building checking system strengthened
        66 7 THE Building Control (Amendment) Bill was also passed yesterday, to strengthen the system of accredited checkers who examine structural plans submitted to the Commissioner of Building Control. The Bill also clarifies the intended role of site supervisors. National Development Minister Mah Bow Tan said by re-emphasising
        66 words
    • Article, Illustration
      Lock icon Artists also need to eat, gifted or otherwise
      383 7  -  By I Cheah Ui-Hoon THE subject may have been quite serious but that did not stop six Singapore artists from debating it with a dash of creativity and a pinch of humour, and entertaining an audience in the process. The matter at
      SIEW YAW HOONG  -  383 words
    • Article
      Lock icon Town councils to get help in coordinating info
      266 8  -  EMaps will help maintain estates mere efficiently By Vivien Ng EM Services, the managing agent of nine town councils here, has launched a geographical information system to help councils manage and maintain public housing estates more efficiently. EMaps will be a one-stop
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    • Article
      Lock icon JTC subsidiaries JTCi and Arcasia Land to merge
      330 8  -  Restructuring aimed at removing overlaps and unnecessary competition By' Tay Hong Seng JURONG Town Corporation will merge its subsidiaries JTC International and Arcasia Land to form one company specialising in the development of industrial properties, industrial parks and science parks. According to
      330 words
    • Article, Illustration
      Lock icon MediaCorp confirms Ernest Wong to be chief exec on Oct 1
      253 8 GOVERNMENT-OWNED broadcaster MediaCorp confirmed yesterday that top banker Ernest Wong will become its chief executive on Oct 1 the day after he retires as president of UOB group. Mr Wong will leave UOB on Sept 30, after 29 years.
      FILE PHOTO  -  253 words
    • Article
      Lock icon Rental guarantee for Holt Residences
      372 8  -  Centrepoint hopes to boost sides of 46-unit development By Kalpana Rashiwala CENTREPOINT Properties is throwing in a 5 per cent rental guarantee to move its Holt Residences freehold apartments. The 46-unit development was released in March at an average price of $1,104 per sq ft
      372 words
    • Article, Illustration
      Lock icon JLL to check water at other properties
      281 8  -  By Marissa Chew JONES Lang LaSalle (JLL) will be checking all the properties where it is the managing agent to ensure that nothing like the water contamination which occured at Bukit Timah Plaza and Sherwood Towers repeats itself elsewhere. Over 100 people fell
      FILE PHOTO  -  281 words
    • Article
      Lock icon Kembangan terraces, bungalows set to go en bloc
      205 8 THE owners of a clutch of terraces and bungalows close to the Kembangan MRT station are selling their homes collectively. The marketing agent for the 38,497 sq ft site, Jones Lang LaSalle (JLL), is expecting about $14.5 million for the sale. This
      205 words
    • Article
      Lock icon Check out patents on Net business methods
      237 8  -  11"" i bag Keith Callinan I REFER to the article by JS Gan entitled "How the banks can acquire that edge on the Internet" (BT, Aug 24) and would advise that there is one vitally important strategy that was not mentioned check out
      237 words
    • Article
      Lock icon Child rebates span 27 yrs: IRAS
      122 8  -  Chia-Mao Kawn Hwa (Mrs) Manager (Public Relations) Inland Revenue Authority of Singapore WE refer to the editorial "More than a bonus needed" in The Business Times on Aug 24. It was mentioned in the article that another $20,000 rebate if the second child arrives
      122 words
    • Article
      Lock icon Don't let bureaucrats ruin hotel sector
      146 8  -  Lee Wai Leong I REFER to the article "The burden of an unrealistic target" (BT, Aug 22). It's preposterous that the Singapore Tourism Board (STB) can "ban" hoteliers from doing what they want to do with their hotels, such as converting them to condos.
      146 words
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      Lock icon Page 7 Advertisements Column 1
      300 7 Bl" Issue? "Now, it's just a hush-hush thing. People are not very supportive as most think that conceiving comes naturally. We want a baby, but we cannot have one, and some people don't believe us." Carol Loi, 29, civil servant Apart from paying a huge sum and time consumed..we at
      300 words
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      1021 8 %&W*AsiaMedic Limited (Incorporated in the Republic of Singapore) NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Asia Medic Limited (the "Company") will be held at 11 Tampines Street 92, Level 4, Singapore *****2 on 18 September 2000 at 10.00 a.m. (and at any adjournment thereof) for the purpose
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      67 8 We welcome letters. E-maU us at btbtteroBph.com.so or fax us at *****71, or writ* to: The Business Times, Times House, 390Kim Seng Road, Singapore *****6 L We need your Ml name, address and telephone number, so we can verity It came from you. Please use temperate language, and bear in
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  • e-NEWS
    • Article
      Lock icon Hutchison Telecom acquires 49% stake in India's Fascel
      475 9 BOMBAY 5J5b rnpee purchase makes it the largest cellular operator in India AFX-Asia HUTCHISON Telecommunications Ltd says it has acquired a 49 per cent stake in cellular service operator Fascel Ltd from holders Shinawatra Satellite pic and Israeli telecom group Bezeq for
      AFX-Asia  -  475 words
    • Article
      Lock icon Intel, others studying 'peer-to-peer' standards
      434 9 SAN JOSE, California Bloomberg INTEL Corp, the No 1 com-puter-chip maker, says it has formed a group to study business applications for 'peer-to-peer' computing, which lets users share files and processing power over the Internet and other networks. The group's 19 member companies, including IBM
      Bloomberg  -  434 words
    • Article
      Lock icon Toshiba to fight Chinese lawsuits
      407 9 TOKYO It won't settle out of conrt on defective floppy disk drives Bloomberg TOSHIBA Corp's president says the company will fight lawsuits filed in China over defective floppy disk drives in its notebook computers the same issue that cost the company US$l billion (551.72 billion)
      Bloomberg  -  407 words
    • Article, Illustration
      Lock icon Connecting people
      85 9 [DENVER] Scott Thompson (left), chief executive officer and president of Tele Tech Holdings, with Reg Empey, Northern Ireland Minister for Enterprise Trade and Investment, in Denver on Thursday. Tele Tech is to locate a state-of-the-art customer service call centre for telephone and e-commerce users on a site in
      AFP  -  85 words
    • Article
      Lock icon Express yourself: Madonna fights for domain name
      498 9 AP [GENEVA] Pop star Madonna has lodged a complaint with the United Nations to gain control of the Internet domain name madonna.Com. She has asked the World Intellectual Property Organization, or Wipo, to order the handover of the site, which is owned by
      AP  -  498 words
    • Article, Illustration
      Lock icon Nintendo plunges after it unveils new game device
      450 9 TOKYO Gamecnbe's late entry could hurt its market position Reuters JUST one day after a muchtouted debut of its newest and most advanced game devices, Japanese videogame maker Nintendo had its shares pounded in the market amid concerns it won't be able
      Reuters; AFP  -  450 words
    • Article
      Lock icon Verizon, rest of strikers settle walkout
      258 9 NEW YORK AP VERIZON Communications and the remainder of its striking workers settled a walkout late Wednesday after an 18day strike. It will take the company almost twice that long to work through its backlog of repairs and orders. Although about two-thirds of the
      AP  -  258 words
    • e Briefs
      • Article
        Lock icon Vodafone expects £14b debt
        75 9 AFP [LONDON] Vodafone said yesterday it expects to have amassed a debt of between £13 and £14.5 billion (SSB4 and £37 billion) by September 30, following its acquisition of next-generation mobile phone licences. In a statement, the British mobile phone giant said it would be paying
        AFP  -  75 words
      • Article
        Lock icon CyberWorks Japan buys stake
        36 9 AFX-Asia [TOKYO] Pacific Century CyberWorks Japan, a subsidiary of Pacific Century CyberWorks Ltd, agrees to acquire a 1.8 per cent stake in Japan-based Weathernews Inc for 570 million yen (Ss9 million). -AFX-Asia
        AFX-Asia  -  36 words
      • Article
        Lock icon E-mail scrambler has flaw
        76 9 AP [NEW YORK] A widely used program that scrambles e-mail for confidentiality has a flaw that can make scrambled messages readable, according to the software maker. Network Associates Inc said Thursday that a sophisticated attacker could exploit the flaw to gain access to e-mail messages that
        AP  -  76 words
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  • REGIONAL news
    • Article, Illustration
      Lock icon Indon Cabinet crisis fizzles out
      551 10  -  Markets respond favourably, spotlight now falls on new economics team From Shoeb Kagda in Jakarta TALK of mass resignations from President Abdurrahman Wahid's newly-formed Cabinet fizzled out yesterday, sending both the benchmark Jakarta Composite Index (JCI) and the rupiah into firmer territory. The JCI gained
      AP  -  551 words
    • Article, Illustration
      Lock icon Asian miracle no myth, says Sachs, refuting Krugman
      509 10  -  SINGAPORE But region most now invest massively in education and R&D By Anna Teo THE Asian economic miracle was no myth, eminent Harvard University economist Jeffrey Sachs said yesterday, resurrecting an old and much-knocked argument of another US economist, Paul Krugman. No
      JAMES CROUCHER/ST  -  509 words
    • Article
      Lock icon S'pore can benefit from Indian take-off: Sachs
      351 10  -  By' Vikram Khanna INDIA'S economy is taking off and its potential synergies with Singapore are huge, Harvard professor Jeffrey Sachs said yesterday. Speaking to delegates at a conference organised by business research firm, Strategic Intelligence, Prof Sachs pointed out that a decade after
      351 words
    • Article
      Lock icon Deutsche Bank, others get 10-day Thai money market ban
      253 10 BANGKOK Bloomberg DEUTSCHE Bank AG and other banks were given a 10day ban from money market transactions with the Bank of Thailand after they breached regulations imposed to guard the local currency against speculators. Since January 1998, the central bank has
      Bloomberg  -  253 words
    • Article
      Lock icon Genting, Resorts shares bashed on poor results
      495 10  -  Counters are at their lowest this year the group's 35th anniversary From Eddie Toh in Kuala Lumpur GENTING Bhd and subsidiary Resorts World Bhd the sole owner of a casino may not find much joy on the group's 35th anniversary this year. Share
      495 words
    • Article
      Lock icon Malaysia, Indonesia set for palm oil price war: traders
      519 10 KUALA LUMPUR They may liberalise export taxes next week to cot stocks Reuters A PRICE war between Malaysia and Indonesia is set to reach a fever pitch next week as the world's two largest palm oil producers may issue final decisions
      Reuters  -  519 words
    • Article
      Lock icon Malaysia Airports 2nd-qtr profit rises 7% to RM54m
      353 10 KUALA LUMPUR Bloomberg MALAYSIA Airports Holdings Bhd, the country's only airport operator, said net profit for the second quarter rose 7 per cent compared with the previous three months, aided by passenger and cargo traffic. Malaysia Airports earned RM53.5 million (Ss24 million),
      Bloomberg  -  353 words
    • Article
      Lock icon Active bidding likely at HK land auction
      197 11 HONGKONG Reuters TWO residential development sites should see active bidding at Tuesday's government land auction, testing the market's reaction to a string of positive government measures recently launched, analysts said. The site attracting the most interest is an 11,380-sq-m residential site on the
      Reuters  -  197 words
    • Article
      Lock icon Chunghwa subscription flops
      543 11 Nearly a third of share anction was unsubscribed, with bids averaging NT$lO9 Reuters [TAIPEI] The privatisation of Taiwan's state-owned Chunghwa Telecom got off to a rocky start as nearly a-third of a share auction was unsubscribed in one of the island's biggest ever subscription flops. Chunghwa Telecom
      Reuters  -  543 words
    • Article
      Lock icon Arthur Andersen considering changing its name
      374 11 NEW YORK Firm may call its consultancy practice Andersen Consulting FT ARTHUR Andersen (AA), the professional services firm, is considering renaming its consultancy practice Andersen Consulting (AC) when the separate and estranged firm using that name loses rights to it on Jan 1. A
      FT  -  374 words
    • Article
      Lock icon Nippon Credit to get almost 3t yen funds injection
      270 11 TOKYO This will allow sale of bank to gronp led by Internet investor Softbank Reuters JAPAN decided yesterday to inject 2.98 trillion yen (Ss4B billion) in taxpayers' money into the failed Nippon Credit Bank (NCB), allowing the sale of the state-controlled
      Reuters  -  270 words
    • Article, Illustration
      Lock icon Moon Water
      120 11 Reuters [SYDNEY] Members of the Chinese dance company known as Cloud Gate are reflected in water as they perform a work by renowned choreographer Lin Hwaii-min called "Moon Water" which is part of the Sydney 2000 Olympic Games Arts Festival at Her Majesty's Theatre in Sydney on Thursday.
      Reuters  -  120 words
    • Article
      Lock icon Protesting forex dealers in Korea halt speculative trade
      493 11 SEOUL Reuters FOREIGN exchange dealers at major banks in South Korea, including foreign banks, have halted speculative trading to protest against government intervention, a move which would severely curtail liquidity, industry sources said yesterday. The government's tight control on the market has
      Reuters  -  493 words
    • Article
      Lock icon HK's MTRC to launch US$1.5b IPO in Oct: report
      430 11 HONGKONG State-owned subway operator said to be worth HKssob Reuters THE HONGKONG government hopes to raise up to US$l.5 billion (552.6 billion) in an initial public offering for its wholly-owned subway operator, Mass Transit Railway Corp (MTRC), the Hong Kong Economic
      Reuters  -  430 words
    • Article
      Lock icon Hedge fund manager charged with fraud
      329 11 NEW YORK Berger is said to have defrauded about 300 people NYT MICHAEL Berger, a hedge fund manager, was charged on Thursday with defrauding 300 people who invested about US$575 million (*****.6 million) in his fund. Berger was charged with securities fraud and fraud
      NYT  -  329 words
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  • WORLD news
    • Article
      Lock icon LSE members raise pressure to delay vote on iX
      397 12 LONDON The Daily Telegraph PRESSURE to delay the vote on the merger of the British and German stock markets grew on Thursday as shareholder frustration at the lack of information on the deal increased. The London Stock Exchange (LSE) is promising
      The Daily Telegraph  -  397 words
    • Article
      Lock icon US revises second-quarter growth to 5.3% from 5.2%
      492 12 WASHINGTON Many analysts believe economy has slowed to growth of aronnd 3.5-4% AP THE US economy grew at a robust annual rate of 5.3 per cent in the spring with strong investment by American businesses offsetting less brisk spending by consumers. The
      AP  -  492 words
    • Article, Illustration
      Lock icon Water, water everywhere
      70 12 [LONDON] Daniel Wilson running through the sprinklers of the new Edmond J Safra fountain at Somerset House in London on Thursday. Thefountain is the first to be commissioned in London since thefamousfountains in Trafalgar Square were built in 1845. The design of the new fountainsfeatures 55 vertical
      AFP  -  70 words
    • Article
      Lock icon Japan investors seen shedding stocks in Sept
      484 12 TOKYO Reuters FT SIGNS of an economic slowdown in the US are likely to spur Japanese investors to shift a hefty portion of their portfolios out of stocks and into bonds next month, a Reuters poll showed. A monthly global asset allocation survey
      Reuters; FT  -  484 words
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      Lock icon Inflation on the rise in eurozone: Welteke
      251 12 FRANKFURT Bloomberg BUNDESBANK president Ernst Welteke warned yesterday that the euro's slide and soaring oil prices are sucking inflation into the 11 nations sharing the European currency, comments that reinforced investors' expectations the European Central Bank (ECB) will raise interest rates. There is
      Bloomberg  -  251 words
    • Article
      Lock icon Clinton to spotlight high oil prices during Nigeria visit
      582 12 WASHINGTON Aim is to encourage Opec to curb prices, which have risen 50% to US$32 a barrel in a year FT Reuters PRESIDENT Bill Clinton's decision to make US concerns over high oil prices a key issue on his trip to
      FT; Reuters  -  582 words
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      Lock icon Few signs of US productivity boom fading: Greenspan
      504 12 JACKSON HOLE, Wyoming Bat he warned that the pace of growth will inevitably slow at some point Reuters AP THE high rates of productivity growth that have helped boost the US economy's performance and hold down inflation show few signs of tapering
      Reuters; AP  -  504 words
    • WORLD Watch
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        Lock icon Volvo, Ford, Mazda recall oars
        81 12 Reuters [DETROIT] Volvo cars, a unit of Ford Motor Co, said on Thursday it is recalling 116,000 SBO cars worldwide, including 49,000 in the United States, over a possible steering problem. The Swedish carmaker said 1999 and 2000 models of the fUll-sized SBO are being
        Reuters  -  81 words
      • Article
        Lock icon Mitsubishi denies resignation report
        38 12 Reuters [TOKYO] Mitsubishi Motors Corp yesterday denied a report that company president Katsuhiko Kawasoe is likely to resign after the carmaker's admission this week it had covered up customer complaints for 20 years. Reuters
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      • Article
        Lock icon Gold prices remain firm
        46 12 Reuters [LONDON] Gold bullion prices in Europe were seen remaining firm yesterday after easily absorbing news from the Swiss National Bank that it had sold 85 tonnes of bullion by mid-August and was planning to sell a further 200 tonnes next year.—Reuters
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      • Article
        Lock icon NEC doubles interim profit estimate
        71 12 Reuters [TOKYO] Electronics heavyweight NEC Corp yesterday doubled its estimate for half-year group net profit—the second Japanese chipmaker to lift its forecasts this week on booming cell phone and personal computer demand. Snapping at the heels of rival Toshiba Corp, NEC said it expected an
        Reuters  -  71 words
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      285 12 IN THE MATTER OF THE COMPANIES ACT, CAP. SO APOLLO SEIKO SINGAPORE PTE LTD At an Extraordinary General Meeting of APOLLO SEIKO SINGAPORE PTE LTD duly convened and held at Block 1022 Tai Seng Avenue #02-3516 Tai Seng Industrial Estate. Singapore *****5 on 18»> August 2000, the following resolution was
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      75 12 Since 1975 our worldwide staff of over *955 275 multi-disciplined professionals f including lawyers chartered accountants. 10 i V chartered secretaries and bankers have |P j k w provided confidential and cost effective j? company formation in all the major low ,3X areaS mcludm 9 Incorporation Fees from USSSOO The
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  • FINANCE & commodities
    • Article
      Lock icon Lack of interest drives STI futures down
      316 13  -  SGX Derivatives TradingReports ST Index/MSCiypore Index Chan Yet San THE Singapore stock market ended mixed for the week. Yesterday, the Straits Times Index closed down 7.67 points or 0.35 per cent to end at 2,166.29 points. Within the index, only 14 counters advanced
      316 words
    • Article
      Lock icon Futures close lower in active trading
      244 13  -  MSCI Taiwan Index Chan Yet San THE Taiwan stock market ignored gains on the Nasdaq to end lower for the third straight day yesterday. The MSCI Taiwan Index fell by 2.5 points or 0.7 per cent to close at 354.69 points. A total of
      244 words
    • Article
      Lock icon Oil prices in the US$30 danger zone
      192 13 ENERGY REPORT Reuters [LONDON] Oil markets roamed the US$3O danger zone yesterday despite word of rising Opec output, triggering more complaints from importing nations. North Sea benchmark Brent crude was one cent off at U5530.34 a barrel whtte US light crude was nine
      Reuters  -  192 words
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      Lock icon CURRENCY REPORT
      316 13 Reuters London THE euro was bolstered against the dollar yesterday as German central bankers' hawkish comments reinforced expectations of an imminent European Central Bank interest rate increase. The single currency was also supported as the resilient Swiss franc hit one-week highs against the US dollar, reversing all the
      Reuters  -  316 words
    • Article, Illustration
      Lock icon Untitled
      1257 13 DITERBAlfKCROSS RATES Aug 25 AS C$ Ewro Ffr On WhV— Won M «8>Hib Nw SS Im< Sfr »TS tafct Nwi US$ Australia 0.851 4.756 0.635 4.165 1.242 4.471 ***** 49.130 0.613 6285 2.178 1316 ***** 25J18 0.967 3.974 0.961 17.*****.433 0.387 0.573 Canada 1.176 5.594 0.746 4.896 1.460 5.256 30.932
      1,257 words
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      Lock icon Untitled
      1824 13 SICOM rurunES i ug 25 RUMCt (Mures dosiaq as at UOpa) BSS1 CONTRACTS ctnta/kQ) ClMt VotaM Opoil Mowtt Htyh Law Sott (tow—«) mtomt Sep 00 H6.75 Oct 00 W.25 Nov 00 119.50 OK 00 120.75 120.75 ,120.75 50 200 RSS 3 CONTRACT (US cwilVty) VotaM OpM Hoot* Low Sott (totwm)
      1,824 words
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  • STOCKS east asia
    • Article, Illustration
      Lock icon Index falls 1.2% on profit-taking in bank, property counters
      2855 14 HOMPKOMO AFP fl Han* Seng -202.96 HONGKONG share prices fell 1.2 per cent yesterday as investors took profits on recent gains in banking and property counters, dealers said. The key Hang Seng index lost 202.96 points to close at 17,236.74 points
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      Lock icon CHINA
      1023 14 Reuters QShenzhen Binder -&31 CHINA'S hard currency B shares ended lower yesterday, extending a technical correction which started earlier this week following hefty recent gains. The Shanghai B share index closed down 1.28 per cent at 72.768 points with turnover falling sharply to US$5O.Ol million from U5582.67 million on
      Reuters; Source: Credit Lyonnais Securities (Asia) Ltd  -  1,023 words
    • Article
      Lock icon TAIPEI
      376 14 AFP QWP Index -7&52 TAIWAN share prices closed 0.9 per cent lower yesterday on selling of traditional industrial stocks, dealers said. The Taiwan Stock Exchange Weighted Price Index fell 72.52 points to 8,026.32 points, on a turnover of NT570.30 billion. Decliners led advancers 431 to 81, with 67 issues
      AFP  -  376 words
    • Article
      Lock icon Foreign investors push Nikkei up 1.4%
      1995 14 TOKYO AFP H Nikkei 225 ****** TOKYO share prices rose 1.4 per cent yesterday as foreign investors led buying in information technology and other promising issues, brokers said. The Tokyo Stock Exchange's Nikkei-225 index closed 240.51 points higher at 16,911.33 points. The Topix Index
      AFP  -  1,995 words
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  • STOCKS klse
    • Article
      Lock icon Untitled
      8616 15 INDUSTRIALS Cumw prefects 2000 L«ft Vot Day Nat Cap Lew Cswpawy hi, -000 H» Ut PH W 420 310 A|lnomoto 150 -20 I 350 J50 19.1 141.9 IM 62 AMUM 65.5 "1.5 5 65.5 65 96.6 670 290 Aooito Food HI* 460 -6 4 460 460 10.0 184.0 3725 2700
      8,616 words
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      Lock icon Weak interim results push M'sian shares down
      405 15 AFP P Composite Index -ISB MALAYSIAN shares ended 0.4 per cent lower yesterday, led by falls in Genting and its unit Resorts World after significantly poorer-than-expected interim results, dealers said. The Kuala Lumpur Stock Exchange Composite Index closed down 3.58 points at 799.26
      AFP  -  405 words
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  • SGX clob & regional stocks
    • Article
      Lock icon Untitled
      2284 16 BONDS WARRANTS Aug 25 m mi M i*r tot W toMwfc M| M Cm to mm "to I*—-rw> t*» 8— ia6* 1—atoi w <%> to» 14.5 14 600 173 14.5 U.5 13 13 410 1 300 ITS 7.93 5'.? 129 *2*?222i: OS T7 15 5 5 S.5 5 17.6 1
      2,284 words
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      Lock icon BANGKOK
      755 16 AFP D SET Mm -0.48 THAI share prices slipped 0.2 per cent yesterday in quiet trade, with the market's leading indicator moving in a tight range ahead of the weekend, brokers said. The Stock Exchange of Thailand (SET) Composite Index fell 0.48 points to 306.84 points while the SET-50
      AFP  -  755 words
    • Article
      Lock icon MANILA
      263 16 AFP Q Composite Index +123 PHILIPPINE share prices rose 0.2 per cent yesterday with the Philippine Stock Exchange Composite Index up 2.23 points to 1,493.48 points. Volume rose to 539.7 million shares worth 764.6 million pesos from 293 million shares worth 734 million pesos on Thursday.—AFP to, 2) 000)
      AFP  -  263 words
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      Lock icon JAKARTA
      641 16 AFP flOmpoataMß 421 INDONESIAN share prices closed 0.9 per cent higher yesterday in quiet trade on a technical rebound after Thursday's sharp fall, dealers said. The Jakarta Stock Exchange Composite Index closed up 4.26 points at 486.91 points. Volume was 549 million shares worth 252.09 billion rupiah. Gainers led
      AFP  -  641 words
    • Article
      Lock icon WELLINGTON
      271 16 AFP PIgSE-40 -33J6 NEW Zealand shares fell 1.6 per cent yesterday as gloom prevailed at the end of a disastrous week for the New Zealand dollar, dealers said. The NZSE-40 Capital Index feU 33.95 points to 2,057.77 points, on a total turnover of NZ5165.9 million. —AFP m *h rtm
      AFP  -  271 words
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      Lock icon SYDNEY
      519 16 AFP QAllOriinriM -4J AUSTRALIAN share prices dropped 0.1 per cent yesterday, dragged down by flails in News Corp and Telstra despite a positive lead from Wall Street, brokers said. The All Ordinaries index ended 4.1 points lower at 3,326.3 points while the SP/ASX 200 dipped five points to 3,367.4
      AFP  -  519 words
    • Article
      Lock icon SEOUL
      294 16 AFP Q Composite Index +10JH SOUTH Korean share prices rose 1.5 per cent, 10.94 points, to 729.80 yesterday. Volume was 272.8 million shares worth 1.3 trillion won. AFP **25 Anam Sofnt W50 200 Brain Trch MO -85 Control Bank MO -W Choil Comm *****0 500 Dm Gu Bank 2070
      AFP  -  294 words
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  • Article
    Lock icon STOCKS sgx
    6626 17 SOJMADIBOARP Transaction date: Aug 25 •r Or H an 12-Wk LMt Vol D«v LootOwto Hi Ml VN Ml Coo A«f Lw Conwsnr HH OOP) HIM lw> 1«T0f «—r Cw W M* 0*04 SOc 115 .3 *41 OI nj "5 s 4 J 12 .4.4 "W 6 "4 Ml
    6,626 words
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  • Page 18 Advertisements
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      Lock icon Page 18 Advertisements Column 1
      248 18 Where to wine, dine and entertain...'™? a Roti prata, sashimi, torn yam prawns, drunken chicken or New Zealand Outlands roast sirloin beef. \bu'U also stand a chance to win two air tickets and hotel stay to New Zealand.' Japanese Buffet Lunch $23.90 (Adult), 40% discount (Child) Euro-Asian Buffet Dinner $24.90
      248 words
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      13 18 r 1 jlHl HOTEL QRAND CENTRAL UMTTED 22 Orchmf Rood, *****7 T*737M44Ext4OCMJ2 H0c*****79
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      95 18 0 ITHE ORIGINAL RECIPEI 0 Crown Prince Hotel Mooncake 12 August 12 September 2000 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, Bishan 1
      95 words
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      42 18 FAVOURITES Enjoy local and Western favourites in a daily bigb-tea buffet at The Mezzanine Cafe Bar. 12pm to spm daily Weekdays: $21.80+++ Weekends: $22.80+++ ctfz Reservations: 831-6286 M 111 WW am HeTTO 3JJ Orchwd Rojd. 2)8867 W: 7)7 4411 to: 7)2 2MI
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  • Page 18 Miscellaneous
    • Miscellaneous
      Lock icon Page 18 Miscellaneous Column 1
      869 18 r ii .»4 1 wrygrai^—- »>■*.* ■-anwai—B 8.40 Making of the Hollow 3XO PM Muzik Muzik. 1030 Home's Concepts. I'iU ill fW Man Memori. 11X0 The World Tonight. AM Kids Central: The 100 3rd Rock From The 4XO Identiti. IL3O 48 Hours. Sun. sjoo Temanku. 1230 AM inside Edition. 830
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      276 18 CRYPTIC CROSSWORD ACROSS 8 Offer for old partner with many 1 Salesman's margin with carpet daughters (6) (9) 14 Providing no passage tor wind? 6 Inspector's code? (5) (8) 9 Meat sounds dear (7) 15 Exaggerate illness and wait tor 10 Home parents canl visit (9) parent to come over
      276 words
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  • The Arts
    • Article, Illustration
      Lock icon EASTERN influences
      1905 19  -  Asian performers will be out in full force at Womad 2000. But while many laud their presence, some in the music industry tell parvathx nayar of how Western tastes are changing ethnic sounds v PARVATHI NAYAR ASIAN performers and rhythms with an Asian beat and feel are increasingly
      SIEW YAW HOONG  -  1,905 words
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      Lock icon Two thought-provokers
      1395 20  -  Two powerful plays, one still ongoing, has parvathx nayar studying the strong characterisations, but also noticing their weaknesses PARVATHI NAYAR mixed blessing 'LOVE may be blind, but in Singapore, it isn't colour blind. This was the proposition explored by an articulate group of actors and playwright Haresh Sharma
      1,395 words
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      Lock icon Emerging from the mask of a terrible regime
      736 20  -  Cambodians rediscover their art, as a TV film shows By: Parvathi Nayar "DESPITE being so very poor, grappling with a horrific past and trying to rebuild a shattered economy, they believe in the long run, their art is important," says Lee Chor
      CHRIS LOH  -  736 words
    • Article, Illustration
      Lock icon the art of possibility
      1438 21  -  Music maestro and public speaker Benjamin Zander talks to johmoee about his informal style of conducting and how it applies in leadership roles JOHN GEE THE Victoria Concert Hall was unlit and empty, save for its stage. Dressed casually for comfort, the members of the Singapore
      SIEW YAW HOONG  -  1,438 words
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      Lock icon Preserving past glories
      565 21  -  Btfi Cheah Ui-Hoon THE chief "occupants" of 32, Jurong Port Road aren't quite like their industrial neighbours. The oldest is 150,000 years old, the smallest has a diameter of 6mm while the rarest can be traced back to head-hunting times in the South-east Asian region. And they
      PHOTOS BY CHRIS LOH  -  565 words
    • Article, Illustration
      Lock icon Pulling the right strings
      1299 22  -  Despite the hurdles, Thomas Liauw has arranged a world-class line-up for S'pore's Ist international guitar fest He talks to ghuamq peck bkzho CHUANG PECK MING Kazhuhito Yamashita insisted on the Victoria Concert Hall when asked to give an upcoming recital in Singapore, and he got it.
      SIEW YAW HOONG  -  1,299 words
    • Article
      Lock icon THE PROGRAMME
      1140 22  -  Compiled by M Yasotha MUSIC Singapore Symphony Orchestra An Evening with Benjamin Zander Management guru and charismatic conductor of the Boston Philharmonic Orchestra, Benjamin Zander, makes his SSO debut as he sheds new light and insight into the New World Symphony by Dvorak, a warhorse that combines native-American
      1,140 words
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      Lock icon Spotlight
      275 22  -  By Cheah Ui-Hoon Tlk* Bum The human body in all its perfection and blemishes will be unveiled by looking at its representation in art history. Plot aad Flagrant Despite its centrality in the production and reception of art, the body .whether of the artist or of the art viewer,
      275 words
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      136 19 1 ■j > ifc ~'V ..T-.X.*! -fin, 1 v£. vfcl V[• >1 j y i. .ffAiffi'.- *!v ,> r r f vl Bi/ UP 111 f j Right Left Back Straightforward •< <;<? .:•/■>' v vj't' x -4'"" V<4i *"£x 4V"/:|;; L V V Mi HSBC was established over 130
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