The Business Times, 30 September 2000

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Total Pages: 24
1 24 The Business Times
  • 16 1 THE BUSINESS TIMES MITA (P) 035/12/1999 <5C X SINGAPORE Internet: http://business-times.asial .com.sg/ SATURDAY, SEPTEMBER 30, 2000
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  • 76 1 sn 1,997.03 (+32.09) BT-SRI 783J2 (+14.78) ST INDEX FUTURES MMOO (+24.00) SIMSCI FUTURES 25CJ0 (+2.90) STOCK MARKET INDICES Friday Change KLSE COMP ***** -7.34 NIKKEI 225 15,*****—♦ 120 JO HANG SENG 15.648.98 +***** SET INDEX ***** 2.46 JAKARTA COMP 421.34 +5.82 MANILA COMP —1.***** -7.34 TAIPEI WPI 6.432.36
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  • 71 1 FOREX RATES USI s$ USS 1.741 £(1ISS/S$per£) 1.463 2548 0.880 1-533 DM 2.222 1176 YEN' 107.7 6190 RM 3.800 2.182 HKS 7.797 4.478 BAHT 42.21 24.24 RUPIAH 8,786 5,045 PRIME BATES SINGAPORE* 5.80 KI ALAIJ MH K 7.67 •IAKAKTA ,19.00 BANGKOK 9.50 MANILA ....11.00 HONGKONG 8.50 TMITil 7.84 SYDNEY
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  • 733 1  -  19% rise in interim earnings of companies that have reported their results so far By David Boey [SINGAPORE] Listed companies that claimed the top 10 spots in the earnings ranking at half time also accounted for a 55 per cent
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  • 633 1  -  NKF opts for shares in lien of cash payment of $1.24 m By\ Lee Han Shih [SINGAPORE] The National Kidney Foundation has opted for shares in WizOffice.com in lieu of cash for providing telemarketing services, a decision which may spark a public
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  • 907 1  -  It is ordering 25 A3XX planes -10 firm and 15 options Hui Conrad Raj (SINGAPORE) Singapore Airlines (SIA) has placed a US$B.6 billion (SSIS billion) order for 25 of the proposed Airbus superjumbos which can seat more than 500 passengers. It will
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  • 128 1 AP Bloomberg [NEW YORK] Stocks fell sharply yesterday after Apple Computer warned that its profits would be below expectations. In late morning trading, the Nasdaq composite index dropped 64 points, or 1.7 per cent, to 3,714. The Dow Jones industrial average fell 121 points, or
    AP; Bloomberg  -  128 words
  • Page 1 Advertisements
    • 86 1 INSIDE Olympics STIK IB Tears for fears on the track. Pg 12 The Arts Past, present and futuristic representations of sports at Olympics Art Festival in Sydney. Back Paga Top Stories Reopen Suharto's case with honest judge: Gus Dur. Next Page Umno Youth wants 60% equity for Malays. Next Paga
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    • 11 1 Detailed rankings, Pg 6 WizOffice share price dives 30°», Pg 4
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    • 297 1 the from gurus on to H and succeed. You'll find the hottest H management at MPH Online, H JPBL' the bookstore that gives you the H knowledge you need. H \mmm Pick up your management books H at www.mphonline.com I pMck I lution Management 2IC: First, Break all the rules:
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    • 26 1 Apple's woes, j Apple shares plunge 49% after earnings warning NEI, Omni shares down B High tech 'sporty finally over? Cracks in Cube's casing, say customers
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  • NEXT page
    • 726 2  -  He suggests the panel that threw out the corruption case had been bought off From! Shoeb Kagda in Jakarta THE unfolding drama surrounding the trial of former Indonesian president Suharto took another unexpected turn yesterday with President Abdurrahman Wahid demanding that the
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    • 521 2  -  Observers call it posturing ahead of renewal of bnmipntra policy when it expires at year-end From Eddie Toh in h'uala Lumpur THE strident youth wing of the dominant political party, United Malays National Organisation, has made a radical proposal to more than double
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    • ON THE grapevine
      • 124 2 MICHAEL Lee, the COO of telecommunications firm Hutchison Intrapage, seems to like it low-key. When asked by BT yesterday where his boss, Intraco CEO Bernard Chen, has left for (see story on Page 5), he said "no comment". Intraco is the parent of Hutchison Intrapage. When
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      • 81 2 PEOPLESOFT has just sent out a private media invitation to view their latest version of enterprise resource planning software, PeopleSoftB, which they are touting as a 100 per cent pure Internet application. The advertising tagline, "PeopleSoftB pure Internet", is emblazoned on a small bottle of
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      • 86 2 WONDER how many folks intending to go to the website of United Overseas Bank get sidetracked into gambling. If you type www.uob.com, what pops up is uob.com, a US-based site that has a plethora of links, many of which relate to financial products, including gambling and casinos,
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      • 64 2 Sex, Chat and SingTel? LYCOSASIA compiles a Top 100 every fortnight of the terms, names and keywords that are most commonly searched for at its site. We understand the current Top 10 is as follows: 1) Sex 2) Chat 3) Games 4) Travel 5) MP3 0) Food 7) Sing Tel
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    • 874 2  -  Advertising film director Sng Tong Beng sees opportunities for locals, writes CorinneKerk Corinne Kerk Advertising film director Sng Tong Beng doesn't understand what the fuss is all about when it comes to foreign versus local talent. "When we start looking at foreign
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  • APPLE'S woes
    • 686 3 SAN FRANCISCO Q4 earnings seen at USsllom, far below expected USsl6sm, bnt Jobs npbeat NYT Bloomberg APPLE Computer said on Thursday its fourth-quarter earnings would fall far below analysts' estimates because of weak September sales, an announcement that sent the company's
      NYT; Bloomberg; Source: Bloomberg  -  686 words
    • 282 3  -  By] David Boey SHARES of electronics contract manufacturers Nat Steel Electronics (NEL) and Omni Industries tumbled more than 10 per cent yesterday after Apple Computer's profit warning whipped the market's already fragile sentiment for electronics shares. Analysts said the market singled out NEL
      Source: Bloomberg  -  282 words
    • 332 3 PALO ALTO Reuters AS its earnings outlook eroded on Thursday and investor confidence shattered, Apple Computer was also having to answer to loyal customers who complained that its computers were cracked. Several Apple enthusiasts who had plunked down U551,799 (553,112) for the shimmering new
      Reuters  -  332 words
    • 210 3 Tills is the first time since Steve (Jobs) ■I returned the company to profitability in the fourth quarter of W that they've trnfy hit a walLJt's not that it's so dramatic a wall, bat it is, in my mind, an ominous one. Charles R Wolf Warburg Dillon Read analyst They
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    • 507 3 NEW YORK Sales slowdown has implications for profits NYT COMPUTERS have driven this economy to the longest expansion ever. Computer stocks have racked up some of the biggest gains of the bull market. But all good things
      NYT  -  507 words

  • SINGAPORE companies
    • 735 4  -  Brokers are hoping for the best but are ready to wage battle if needed Reports byi Andrea Tan THE possibility of a commissions price war hangs over the stockbroking industry. While things may look cosy on the surface with most brokers
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    • 271 4 THERE could be fewer small-time punters from Monday as new minimum commission charges around $30 kick in. They replace the old minimum fee of $10 for trades below $150,000 or 0.75 per cent, whichever was higher. Although commission rates have fallen to 0.5
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    • 396 4  -  It opens at 16 cents and closes at 14 cents, with 20m shares traded Andrew Wee WIZOFFICE shareholders eager to cash out of newly listed e-commerce provider pushed it to the top of the volume leader board yesterday and dragged it 30
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    • 964 4  -  nrrar lock siew paul thompson Accountants for many years have fallen out with lawyers over the issue of "substance over form". Substance is the commercial reality of a transaction, while form is its legal nature. Usually the two are the same.
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    • 539 4  -  Fond is world's largest international private eqnity fond By Tang Weng Fai US-BASED investment giant Warburg, Pincus Co yesterday announced in Singapore the closing of the world's biggest international private equity fund at US$2.5 billion (554.4 billion). To be called Warburg Pincus International Partners, it
      SIEW YAW HOONG  -  539 words
    • 490 4  -  Sing Tel, SIA, ST Engg may have their weightings cut: Salomon Smith Barney Hy\ Serena Ng BANKING stocks will be the main beneficiaries in the Singapore market if Morgan Stanley Capital International (MSCI) decides to go ahead with a proposal to adjust
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    • 400 5  -  These products are set to make up 25% of sales in Asia nnder the Brand's label within 3 years By Eugene Low CEREBOS Pacific, which launched its new range of health supplements yesterday, expects them to contribute a quarter of sales from Asia under
      ARTHUR LEE  -  400 words
    • 407 5  -  H/f] David Boey MAINBOARD listed consum er electronics firm Eastern Asia Technology (Eastech) said yesterday it planned to spend up to $24 million of the proceeds from a secondary listing in Taiwan to take over a computer chip design com pany. Eastech
      Source: Bloomberg  -  407 words
    • 312 5  -  By< Christopher Tan BERNARD Chen, the helmsman of listed trader Intraco for the past nine years, has left the government-linked company and apparently joined another GLC. He steps down officially as chief executive tomorrow. Intraco made the announcement yesterday. While the statement said only that
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    • 3447 6 Half-year ranking of SES companies COMPANY EARNINGS (S$M> CHANGE TURNOVER (SSM) CHANGE EPS {CENTS) CHANGE 2000 1999 2000 1999 2000 1999 1 DBS 704.0 655.0 7J5 1488.5 1460.3 l5 118.00 *****0 21 2 OCBC 445.2 293.3 51.8 848.5 905.8 -6.6 35.00 23.00 52.2 3 UOB 408.4
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    • OTHER Results
      • 65 7 SEE Hup Seng has swung to a first-half net loss of $2.9 million from a net profit of $898,000. Turnover fell 26 per cent to $14.4 million. Loss per share was 2.65 cents compared to earnings per share of 0.85 of a cent
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      • 42 7 SECOND Chance Properties suffered a 71 per cent drop in net profit to $1.75 million for the year to June due to provisions of $4.86 million. Turnover edged up by 3.75 per cent to $30.1 million.
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      • 35 7 HOTEL Grand Central has swung into an interim net profit of $4.9 million from a net loss of $4.5 million previously. Turnover rose 13 per cent to $23.2 million.
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      • 30 7 INNO-PACIFIC Holdings' first-half net loss has widened to $1.8 million from $942,000 on the back of a 8 per cent drop in turnover to $4.3 million.
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      • 45 7 FUJI Offset Plates Manufacturing's net profit rose 62 per cent to $776,000 for the half-year to June, despite a 2 per cent decline in turnover to $11.7 million. Better cash management and operating results led to the rise.
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      • 40 7 SERIAL System saw a 49 per cent fall in interim net profit to $2.44 million, due partly to the divestment of an associate company. Turnover rose 45 per cent to $74.5 million from new businesses.
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      • 60 7 ROTOL Singapore slipped into the red with a net loss of $622,000 for the six months to June 30. The previous year, it reported net profits of $40,000. Loss per share was 0.38 of a cent, compared with earnings per share of 0.02 cents
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      • 42 7 SHINING Corporation posted a net loss of $104,000 for the half-year to June 30. The group had net profits of $602,000 last year. Loss per share was 0.17 of a cent. Turnover fell 58 per cent to $11.6 million.
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      • 37 7 DESPITE turnover more than doubling to $44.4 million, Teamsphere slipped into the red with a $1.3 million net loss for the year ended June 30. Loss per share was 1.34 cents.
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      • 48 7 LINKS Island Holdings suffered a 75.5 per cent drop in net profits to $530,000 for the six months to June 30. This cut its earnings per share from 1.55 cents to 0.31 of a cent. Turnover tumbled 29.3 per cent to $6.2 million.
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      • 63 7 IN yesterday's article "Stratech posts $1.89 m HI loss", we reported that Stratech Systems would hand over the open bidding system for vehicle Certificates of Entitlement to the Land Transport Authority (LTA) yesterday. Stratech has clarified that the handover is for the LTA to begin user acceptance and other
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    • 375 7  -  Chairman: Group has reinvented itself and now debt-free !<!)■ Eugene Low DRAGGED down by debts incurred by its former businesses, IPC Corporation's net losses deepened 47.3 per cent to $28.9 million for the six months to June 30. On a more positive
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    • 514 7  -  Ihf. Teh Hooi Ling RICHARD Li's Pacific Century Regional Development (PCRD) yesterday posted a 17-fold surge in interim net earnings to $20.3 million, and announced a 10-for-l stock split. Turnover for the six months ended June 30 rose 29 per cent to $147 million.
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    • 257 7  -  Marissa Chew CONSTRUCTION firm L&M Group Investments sank deeper into the red, posting a net loss of $9.7 million for the six months to June 30 compared to a loss of $472,000 previously. But L&M, which is making a bid for debt-laden Van
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    • 249 7  -  th/i Andrea Tan ACMA Ltd's interim net profit was slashed by one-third to $4.1 million as turnover fell 19 per cent to $215.5 million. The fall in earnings was due to the group ceasing to consolidate the results of MAE Engineering
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  • Page 5 Advertisements
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  • SINGAPORE markets
    • 560 8  -  l -l I comment STOCKS r. sivanithy A PROFIT warning by US computer firm Apple dampened spirits in the local technology sector yesterday, but fortunately Nasdaq's Thursday rebound proved enough to bring some buyers back into other sectors. A fall in oil prices
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    • 196 8  -  WARRANT WATCH By\ R Sivanithy THERE seems to be a bit of a property play developing the Properties Equities Index has risen for two consecutive days, with decent gains by sector luminaries like City Dev, DBS Land and Wing Tai. There are
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    • 247 8  -  HOT STOCK By\ Serena Ng THE stock of defence-technology group ST Engineering has enjoyed a steady run-up in the past few trading sessions but looks likely to enter a consolidation phase soon around current levels. It closed five cents higher yesterday at $2.58
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    • 143 8 ♦SPEEDLING Incorporated, US subsidiary of WBL Corporation, has formed two joint ventures in China, Kunming Speedling and Zibo Speedling. The US company holds 90 per cent and 51 per cent respectively in the two companies. Kunming has a registered capital of 5 million yuan (Ssl million) and Zibo
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    • 523 8  -  I -1 t comment CURRENCIES larry wee THE euro looks open to further punishment after Denmark voted against EMU entry in a referendum on Thursday, though it held steady yesterday at just above 88 US cents on pre-weekend caution. On the
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    • 529 8 Stocks Volume Wizoffice5c 19.930.CXX) Nat Elec 10c 16.084,000 Omni Ind 10c 13,316.000 SingTel 15c 13.100,000 Stratech 5c 7,402,000 Chart Semiconductor 26c 6.766,000 NOL 6.327.000 Eastern Asia 6,187,000 DBSGrp 4,405,000 TT Int 15c 3,997,000 Stocks DBS Grp 84,069,906 Chart Semiconductor 26c 74,578.370 Nat Elec 10c 73,340,404 SPH 40,464,607 Omni Ind 10c
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  • Page 8 Advertisements
    • 1090 8 NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298 IN THE MATTER OF THE COMPANIES ACT. CAP. SO AND IN THE MATTER OF UNITED LEASING SERVICES PTE LTD (Incorporated in the Republic of Singapore) (In members' voluntary winding-up) At an Extraordinary General Meeting of United Leasing 4 Services
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    • 13 8 it advertise your simply lax: 74i m or Call toll-free: 1800 741 1883
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    • 44 8 Grow Your CPF With eiBht Important All applications for units in eight must be made on the application forms accompanying the prospectus Investors must read the prospectus The value of the units and the income from them may fall as well as rise 831XiSBANK
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  • SINGAPORE news
    • 491 9  -  Agreement likely to include areas like e-commerce and financial services By> Audrey Tan SINGAPORE and Japan may conclude a free trade agreement by the end of next year that includes cooperation in "New Age" areas such as financial services and
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    • 172 9 THE Trade Development Board yesterday launched the International Trade Institute of Singapore (ITIS), which it hopes will help shape trade policies. Speaking at the launch at the Grand Copthorne Hotel, TDB chairman Stephen Lee said ITIS will provide training, consulting and research. Singapore companies will benefit
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    • 322 9  -  I 3on the economy exports Byi Anna Teo AMID a strong overall trade performance, Singapore's exports to the United States and Europe have been contracting. But given the structural changes in the manufacturing sector, it would be premature to conclude domestic exporters have lost
      Source: CEIC  -  322 words
    • 260 9 [SINGAPORE] Pioneer dramatist Kuo Pao Kun's Practice Performing Arts School (PPAS) has received the largest payout so far from the $50 million arts fund outlined in the Renaissance City Report. Under the scheme, the PPAS will get $1 million over the next three
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    • 455 9  -  A Walter Spies piece the star, seen fetching up to $800,000 By i Corinne Kerk COLLECTORS of South-east Asian paintings will be spoilt by two auctions this weekend, while jewellery and watch afficionados will also be able to buy some
      DESADURCHBLICK by WALTER SPIES (detail)  -  455 words
    • 707 9  -  By\ Vivien Ng TWO initiatives were mooted earlier this month by the Ministry of Community Development and Sports and the Singapore National Employers Federation (SNEF) to encourage more firms to adopt family-friendly practices. The ministry set up a Work-Life unit which will work closely with
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    • 303 9 THE value of auction sales rose 13 per cent in the third quarter as sales of shops and shophouses doubled and development sites made an appearance. In a report released yesterday, Jones Lang La Salle estimated 47 properties were sold for a total of
      Source: Jones Lang LaSalle  -  303 words
  • Page 9 Advertisements
    • 202 9 Baker Mc.Kenzie, one of Hong Kong's leading local and international law firms, has an immediate vacancy for the following position:Requirements: Bachelor of Science degree or equivalent exposure to patent law practice: prior or current employment as a patent paralegal preferred fluency in English and Chinese (Mandarin and Cantonese) knowledge of
      202 words

  • MAIL bag
    • 319 10  -  Robert Teh Kok Hua YOUR article "Transparency and corporate governance" (BT, Sep 27) is very timely and crucial, given Singapore's economic restructuring in banking, property and strategic industrial master planning. The global community is becoming one. In the context of Singapore corporations, small and medium enterprises (SMEs)
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    • 185 10  -  Chiew Chee Mun I REFER to the article "Pioneering Asian survey gives a peek into the boardroom" (BT, Sept 26). Directors don't do the work themselves. The executives do the work for them. The executives do all the feasibility studies and write the board
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    • 484 10  -  UNIT TRUSTS Wen Yixiang I REFER to the letter "Go for no-load funds in US than unit trusts here" (Mailbag. Sept 22). From an investor's perspective, I share Tan Keng Soon's view of selecting a cheaper avenue to invest. However, we have to consider
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    • 144 10  -  Lim Chuan Lam I REFER to the letter "Go for no-load funds in US than unit trust here" (Mailbag. Sept 22). I would like to add to what Tan Keng Soon has contributed. If you wish to invest in a fund through a discount broker in the
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    • 157 10  -  Patrick Neo I REFER to the article "DBS launches deposit account for lower income group" (BT, Sept 27). DBS has the commercial right to implement whatever it wishes. After all, it is a bank's sole objective to make money. DBS has "bought over
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    • 119 10  -  Mark Lee 1 REFER to the article "NEL aborts plans to buy 3Com's Chicago plant" (BT, Sept 28). I find this quote baffling: "We don't see a good reason to manufacture in Chicago. It doesn't bring in new technology or new skills that we already have." If
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    • 158 10  -  Eduardo Ramos-Gomez Ambassador of Mexico ON behalf of the Government and the Embassy of Mexico, I wish to publicly express my appreciation and satisfaction with the very positive response that Festival Mexicano 2000: Celebrating Diversity has had among the Singaporean public. The press reports, letters to the
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    • 90 10  -  Sim Soon Leng I REFER to your article "Another sorry currency mess"(BT, Sept 22). The high US dollar will keep US inflation in check, but for the rest of the weaker currencies, it gives their countries a chance to export cheaply so that their economies can
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    • 231 10  -  Alvin Lee Beng Kiat I REFER to the article "SMRT Corp missing profit at its doorstep?" (BT, Sept 22). As a Canadian, I am surprised public transport in Singapore is privatised. That's not the case back in Canada, where it is state-owned. Despite
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  • Page 10 Advertisements
    • 2100 10 > I BANKMANDIR^p I CONSOLIDATED BALANCE SHEET CONSOLIDATED STATEMENTS OF INCOME I As at December 31,1999 and 1998 AND RETAINED EARNINGS I For the years ended December 31,1999 and 1998 Rp Million 1999 1998 Rp Million I Cash 2,059,796 914,108 1999 1998 Current accounts with Bank Indonesia 960 447 8
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    • 67 10 We welcome letters. E-mail us at btletter@sph.com.sg or fax us at *****71, or write to: The Business Times, Times House, 390 Kim 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
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  • e-NEWS
    • 441 11  -  From Quak Hiang Whai in Hongkong RICHARD Li's Pacific Century CyberWorks, under fire from the media and analysts for not fully disclosing the reasons behind its narrowing losses, yesterday revealed that its first-half results released on Thursday included unrealised gains from investments. The company,
      441 words
    • 391 11  -  SINGAPORE Buyers can get quotes from multiple sellers at a go By Daniel Buenas LOCAL Internet startup Mediaro.com has launched what it claims is the "first dynamic travel exchange in the AsiaPacific". Finder Plus at www.finderplus.com lets travel providers submit quotes and bids in response to
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    • 309 11 LONDON Reuters BRITISH telecoms giant Vodafone Group pic is within days of completing the sale of Infostrada, its Italian Internet and fixed-phone business, for £7.2 billion (5518.4 billion) in cash and loan notes, the Financial Times said yesterday. Citing
      Reuters  -  309 words
    • 312 11 BOMBAY AFP Bloomberg AN electrical engineering graduate from Bombay University has become the latest Indian software multi-mil-lionaire, selling his Califor-nia-based computer networking company for US$45O million (Ss7B3 million). "Indian geeks are alive, kicking and making their millions in Silicon Valley, even in this winter of
      AFP; Bloomberg  -  312 words
    • 478 11 FT [LONDON] Oxford University was poised last night to announce a deal with Princeton, Stanford and Yale to set up an elite virtual college providing Internet courses for half a million alumni. The deal with three members of the US's Ivy League
      FT  -  478 words
  • Page 11 Advertisements
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    • 14 11 IjTODAY®**** Lianhe Zaobao mmx® messes* $3$ S'porean businessmen's advice on doing business in China.
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  • SYDNEY 2000
    • 798 12 Poor technique cracks Jones' dream of 5 golds while El Guerrouj falls prey to nerves; US continues to lead medal tally Reuters MARION Jones's dream of becoming the first woman to win five track golds at one Olympics ended in defeat on Friday as
      Reuters; AP  -  798 words
    • 512 12 Moroccan king of the mile hands crown to Kenyan Noah Ngeny AFP THEY were meant to be tears of joy but instead they were tears of sadness as Hicham El Guerrouj's expected coronation as Olympic 1,500 metres champion ended in heartbreak and devastation. For four years the 26-year-old
      AFP; REUTERS  -  512 words
    • 355 12 BOXING Reuters AP THAILAND'S Wijan Ponlid survived a close boxing semifinal yesterday to put himself in position to win his country's second Olympic gold medal. Ponlid, turning the fight around in the third round after a nervous start, beat Vladimir Sidorenko of Ukraine 14-11.
      Reuters; AP  -  355 words
    • 580 12 HOCKEY Reuters {SYDNEY] Australia confirmed it is the greatest women's hockey side in history yesterday with a 3-1 win over Argentina to win the Olympic gold medal. Inspired by brilliant play from Rechelle Hawkes, Claire Mitchell-Taverner and Nikki Hudson, Australia added the Sydney title to its
      Reuters  -  580 words
    • 681 12  -  ANNA TEO had a great time, thanks in part to the army of 47,000 Vollies ANNA TEO THE Olympics, come to think of it, has always been a smorgasbord of numbers: 30 venues; 50 countries; 10,000 athletes; 100,000-seating capacity; third consecutive gold; 19.32 seconds (Michael
      681 words

  • REGIONAL news
    • 686 13 JAKARTA Cost of bank sector rescue will leave little in coffers to rebuild economy Reuters INDONESIA on Monday will present a draft budget heavily tailored to rescuing the country's ailing banking sector, leaving little in the coffers to help rebuild the shattered
      Reuters; FILE PHOTO  -  686 words
    • 376 13 BANGKOK Reuters A PROBE by Thailand's antigraft agency into the assets of telecoms tycoon Thaksin Shinawatra has dented his hopes of becoming the country's next prime minister, according to an opinion poll released yesterday. Mr Thaksin is regarded as the front-runner in general
      Reuters; REUTERS  -  376 words
    • 201 13 JAKARTA Reuters INDONESIA said yesterday it was withdrawing from a world scheme to prop up coffee prices, dealing a blow to international efforts to unite leading producers. The decision triggered criticism from local exporters who said the scheme was the only way to lift slack prices.
      Reuters  -  201 words
    • 141 13 Bloomberg [KUALA LUMPUR] Telekom Malaysia Bhd, the country's biggest phone company, said it expects to boost revenue and retain customers by offering a free call service later this year. The Malaysian company plans to introduce the service that gives its customers free calls upon listening to
      Bloomberg  -  141 words
    • 295 13 Japan lender won't meet extra cost of terminal building AFP {BANGKOK] Bangkok's controversial second international airport has hit a fresh hurdle after the Japanese lender refused to meet a blow out in the cost of part of the project, a report said
      AFP  -  295 words
    • 512 14 TOKYO Move casts doubt over firm's ability to make bond coupon payments Reuters CHINA'S central bank has ordered debt-ridden Hainan International Trust and Investment Corp to halt all financial activity, casting grave doubt over its ability to make bond coupon payments.
      Reuters  -  512 words
    • 136 14 AFP [NEW DELHI] A New Delhi court yesterday convicted former Indian Prime Minister P V Narasimha Rao on charges of corruption related to a 1993 million-dollar bribery case. Rao and a former Cabinet colleague Buta Singh were both found guilty of criminal conspiracy under
      AFP; REUTERS  -  136 words
    • 312 14 HONGKONG Big chunk of funding expected from international investors, says senior exec Dow Jones Wires HYUNDAI is planning to develop a US$5 billion (SsB.7 billion) industrial park in North Korea, a Hyundai senior executive says in an exclusive interview with the
      Dow Jones Wires  -  312 words
    • 381 14  -  Higher contributions from associates; finance charges fall From Quak Hiang Whai in l/otigkony NG Teng Fong's Sino Hotels (Holdings) has returned to the black with a net profit of HK531.65 million (Ss7 million) for the year ended June 30, 2000.
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  • Page 13 Advertisements
    • 51 13 Memoirs of Lee Kuan Yew FROM THIRD WORLD TO FIRST The Singapore Story: 1965 2000 (Inclusive of GST) Available at fi l*l ~F ift/£ til SPH Stop Press Kiosks (MRT Stations and Bus Interchanges) BUZZ Kiosks Esso Mobil Shell Caltex SPC 7-Eleven Carrefour NTUC Fair Price sR&¥ift pqfttt Bookshops Major
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  • Page 14 Advertisements
    • 630 14 Coming up next in Project Eyebal... Singaporeans' He's a retired teacher who spends much of his free time writing poetry Sffl' fnli 1 practising numerology and |TW|. Oj|| astrology. Peter Ong has been -~m IB i■ Ri writing poetry for over 30 years-he tH yL^i. picked up his pen and
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  • WORLD news
    • 593 15 CARACAS, Venezuela They should also help developing world by forgiving Third World debt CONCLUDING its first summit conference since 1975, the Organisation of Petroleum Exporting Countries declared on Thursday that rich countries complaining about high oil prices should instead cut their
      REUTERS  -  593 words
    • 621 15 SAN FRANCISCO Duo accused of using sham deals to inflate firm's earnings NYT TWO former top executives of a Georgia medical software company were indicted on Thursday, accused of costing investors more than US$9 billion (5515.3 billion) in one of the largest
      NYT  -  621 words
    • 263 15 LONDON FT EUROPEAN banking regulators are probing US$l7l billion (***** billion) of new loans made to European telecommunications groups, fearing that the banks' have lent too much money to the sector. The worries sparked by loans to fund the cost of third generation mobile
      FT  -  263 words
    • 716 15  -  From I Shada Islam in Brussels EUROPEAN Union governments yesterday remained upbeat on the future of their battered single currency despite Denmark's massive rejection of the euro in Thursday's referendum. In the first referendum on the euro in an EU country, more
      REUTERS  -  716 words
    • 421 15 ZURICH 'Old' remarks H2 gain won't be as good as HI repeated at meeting on DLJ purchase Reuters CREDIT Suisse Group denied a report it had issued a profit warning that made its shares slide as shareholders met yesterday to vote on the group's purchase
      Reuters  -  421 words
    • 352 15 TORONTO AP [TORONTO] With the death of former Prime Minister Pierre Trudeau, Canadians lost their own version of Camelot. Mr Trudeau, 80, died of prostate cancer at his Montreal home on Thursday. The news triggered a stream of Kennedy-esque reminiscing and photos rolling
      AP  -  352 words

  • FINANCE & commodities
    • 309 16  -  SGX Derivatives TradingJtepoH ST Index/MSCI S'pore Index Lau Chee Keong Refco Singapore THK Straits Times Index closed higher yesterday following the overnight gain on the Dow Jones but Iho technology stocks wore badly hit by the profit warning by Apple Computers. The index
      309 words
    • 239 16  -  MSCI Taiwan Index Lau Chee Keong Refco Singapore THE Taiwan stock market continued its downtrend yesterday as foreign funds sold off their technology stocks after Apple Computer warned it would miss its earnings target. The MSCI Taiwan lost 5.4 points or 1.86 per cent,
      239 words
    • 171 16 ENERGY REPORT Reuters (LONDON) Oil prices regained some ground yesterday after slumping heavily when Iraq vowed on Thursday not to disrupt its export sales of more than two million barrels per day. London Brent crude futures were up 39 US cents at U5529.65 a barrel,
      Reuters  -  171 words
    • 336 16 Reuters London THE euro retreated across the board yesterday, extending losses it began to suffer after Denmark gave the thumbs down to joining the single currency, but its downside was seen limited by persistent fears of central bank intervention. Its decline was driven by losses against the sterling,
      Reuters  -  336 words
    • Article, Illustration
      1298 16 INTERBANK CROSS RATES Sl /rJ!) AS C$ Rmb Euro Ffr Dm HK$ Ind Bs Ruplah Yen Won RH HZ$ Pafc Rs Peso S$ R»nd Sir NTS Baht Pound US$ Australia 0.815 4.509 0.617 4.048 1.207 4.235 25.004 47.716 0.585 6.056 2.064 1.330 31.638 25.080 0.946 3.955 0.940 17.*****.929 0.371 0.543
      1,298 words
    • 1910 16 SICOM FUTURES Sep 29 RUBBER (futures dosing as at 5.30pm) RSS1 CONTRACTS cents/kg) Close Volume Open Month High Low Sett (tonnes) Interest Oct 00 115.25 Nov 00 117.00 Dec 00 118.25 Jan/Mar 001 121.00 150 RSS 3 CONTRACT (UScents/kg) Volume Open Month Hiqh Low Sett (tonnes) Interest Oct 00 65.50
      1,910 words

  • STOCKS east asia
    • 2919 17 HONGKONG AFP HI Hang Seng +***** HONGKONG share prices rose 1.5 per cent yesterday following Wall Street's gains overnight, dealers said. The benchmark Hang Seng Index gained 233.23 points to close at 15,648.98 on turnover of HK$B.l2 billion. Dealers said the
      AFP  -  2,919 words
    • Article, Illustration
      1044 17 CHINA Reuters n Shenzhen B Index +0.65 CHINA'S hard currency B shares ended up slightly in thin trade yesterday ahead of a long holiday but the debut of the first wholly-private B share firm, Chengde Dixian Textile, glowed with a rise of 30.65 per cent. The Shanghai B share index
      Reuters; Source: Credit Lyonnais Securities (Asia) Ltd  -  1,044 words
    • 412 17 AFP QWP Index -***** TAIWAN share prices fell 2 per cent yesterday to a new low for the year on selling of technology stocks amid political and economic uncertainties, dealers said. The Taiwan Stock Exchange Weighted Price Index lost 132.51 points to 6,432.36, on turnover NT565.15 billion. Decliners led
      AFP  -  412 words
    • 1985 17 TOKYO AFP Q Nikkei 225 +120.30 SHARE prices in Tokyo rose 0.8 per cent yesterday as bullish foreign investors chased gains following a strong rebound on Wall Street, brokers said. The Tokyo Stock Exchange's Nikkei--225 index advanced 120.30 points to close at
      AFP  -  1,985 words
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  • STOCKS klse
    • 448 18 AFP n Composite Index -7.34 MALAYSIAN shares closed one per cent lower yesterday on selling of blue chips amid continuing weak sentiment, dealers said. The Kuala Lumpur Stock Kxchange Composite Index ended down 7.34 points at 713.51. The Second Board index closed down 0.88
      AFP  -  448 words
    • 9791 18 INDUSTRIALS Consumer products 2000 Last Vol Day Net Cap High Low Company Sale OOO High Low P/E $mil 420 310 Ajinomoto 314 -36 I 314 314 17.2 127 3 158 SO Angkasa 50 -0.5 42 52 50 73.7 670 290 Apollo Food Hig 432 9 4 172 8 3725 2700
      9,791 words
  • Page 18 Advertisements
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  • SGX clob & regional stocks
    • 3189 19 BONDS A WARRANTS wt ants Pram/ CiparY 52 »»M Lit! »«< Oj» UltOMta >•( HUM Can fur Otw Htm Mfk law CwfHf hk m Ub Ukt Mm ImMiI «atto Mn (HI furti t UK 51.5 5.5 I Acma W*****4 6 unch 95 7.5 6 6 6.5 7 41.0 I 300
      3,189 words
    • Article, Illustration
      759 19 Reuters H SET Index -2.46 THAI stocks ended lower yesterday as nervous investors took profits after recent gains, and key monthly data from the central bank failed to lift the gloom. The SET index closed down 2.46 points or 0.88 per cent at 277.29 on thin turnover of 1.72
      Reuters  -  759 words
    • 289 19 AFP n Composite Index -734 PHILIPPINE share prices closed 0.5 per cent lower yesterday with the Composite Index down 7.34 points at 1,434.49. Volume was 379.98 million shares worth 539.83 million pesos from Thursday's 294 million shares worth 421 million pesos. Peso 000) MRC Allied 0.40 unch 40 Abacus
      AFP  -  289 words
    • Article, Illustration
      732 19 AFP Q Composite Index +5.82 INDONESIAN share prices closed 1.4 per cent higher yesterday on bargain-hunting in large cap stocks, dealers said. The Composite Index closed up 5.82 points at 421.34 on volume of 490.91 million shares valued at 284.24 billion rupiah. Advances led declines 97 to 37. Broad
      AFP  -  732 words
    • 267 19 AFP QNZSE-40 ♦6*o NEW Zealand stocks closed up 0.3 per cent yesterday despite the shares of Telecom New Zealand coming under selling pressure following the release of weak gross domestic product figures. The NZSE-40 index was up 6.50 to 2,009.58 on turnover of NZ$9l.7 million.— AFP $«#m »n coooi
      AFP  -  267 words
    • 558 19 AFP F1 All Ordinaries +930 AUSTRALIAN shares rose 0.3 per cent yesterday as key blue chip banking and telecommunications stocks took a lead from a rising Wall Street to counter a decline in market leader News Corp, brokers said. The All Ordinaries index rose 9.3 points to 3,246.1 while
      AFP  -  558 words
    • 317 19 AFP H Composite Index +7.37 SOUTH Korean shares closed 1.2 per cent higher yesterday with the index up 7.37 at 613.22. Volume was 325 million shares worth two trillion won. AFP Sw Wo. Anjm Suni 7100 -50 Br on Itch 770 10 Control Bank S80 -100 Choil Comm *****
      AFP  -  317 words
  • Page 19 Advertisements
    • 52 19 HOME IN ON HDffS investment portfouo I I IPO- Shares. Bonds. Stocks. Annual Reports. H3 J WprrW I Whatever you're offering, we help you reach out flnH II 0/o a adults In Slnqapore dally. ftsiP 4.., U- ♦"j B The Straits Times The Business Times Lianhe Zaobao Berita Harian Tamil
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  • 9512 20 SGX MAINBOARD Transaction date: Sep 29 Cr Cr M Wt <2 Last Vol Day L'lt Ouote Dly Olv VM Not Cap Avg Miqn Low Company M <f COOO) High Low Buyor Saltof C'vr P/E $mM Prlco MULTI-INDUSTRY 163 77 mc Acme 50c 79 *0 5 117 80 '8
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  • Page 21 Advertisements
    • 263 21 Where to wine, dine and asmSEZ Line dancing every Monday, where you'll swing to the same moves as other dancers! On Thursday and Saturday, we have free social ballroom dancing lessons. From Mon to Thur, drinks at bar prices and first drink chargeof $12+++ on Fri, Sat and public holiday
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    • 36 21 lll^ HOTEL GRAND CENTRAL LIMITED 22 Orchard Road/Cavenagh Road. Singapore *****7 I j t@ i* m *II |f ff| 9 I JIB Advertise in Wine, Dine Entertain of The Business to 17,000 readers or Amy Choo
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  • Page 21 Miscellaneous
    • 671 21 i ne Business i imes, saiuraay. aepiemoer ju, <£uuu Central <~,os Channel NewsAaia Women's Time Trial aoo ht( 6 HP f If 12.30 S lSn)almSs.' 900 4.00 Olympics: Athletics FiS»" W 100 Close 5.00 Heidi. ay nals (L). mSA 3LirtP II fs?aa nt f|j art. SEaT"* 11: 2S*bo, ™t eak,hroush
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    • 276 21 CRYPTIC CROSSWORD ACROSS 6 Pick up Shakespeare boring 1 No point looking, before this W jump? (4,2,3,4) Canute did this and was wet, 10 In chair first, one's getting gold they say (7) tooth (7) 8 Barnster vetting printing tech--11 Practical approach is needed in kingdom (7) Upmarket means to
      276 words

  • The Arts
    • Article, Illustration
      1575 22  -  PARVATHINAYAR looks at past, present and futuristic representations of the art of the game. At the Olympics Art Festival in Sydney, she finds out how sports is closely linked with our cultures and lives PARVATHI NAYAR THE Games come to an end tomorrow night, but the Olympics
      1,575 words
    • 758 23  -  Singapore 2000 promises a mix of fine and fun art. CHEAH UI-HOON and PARVATHINAYAR get a taste CHEAH UI-HOON and PARVATHI NAYAR THERE is an unmistakable arty buzz in the air. There are arty chatter and activities guest books are filling up, press packs given
      ARTHUR LEE  -  758 words
    • 189 23 Singapore Symphony Orchestra two Pianos at the SSO The renowned London-based piano duo of Dennis Lee and Toh Chee Hung take centrestage in Mozart's ebullient Concerto for Two Pianos, one of the most loved and often-peWormed works in this medium. Lan Shui conducts. Sept 30,8.15pm at Victoria Concert Hall.
      189 words
    • 130 23 Swan Lake Moscow City Ballet Arts Management Associates presents one of the world's most famous and well-loved classical ballet Swan Lake. Oct 5 6, Bpm at Kallang Theatre. Tickets: $80, $60, $40, $30 $20 available at Sistic (348-5555). The Sock For an evening of fun and laughter, catch this
      130 words
    • 243 23 Singapore Art Museum Recent Acquisition An exhibition of recent acquisitions by the SAM featuring works by artists from Singapore and South-east Asia. Until Nov 5. Galleries 5-8. Singapore Art Museum, 71 Bras Basah Road (Tel: 332-3222). Tickets at $3 ($1.50 concession). Tue, Thu-Sun, 9am-6pm. Wed, 9am-9pm. Note: Free admission
      243 words
    • 340 23  -  Compiled by M Yasotha Art Singapore 2000 An art fair on South-east Asian contemporary art organised by the Art Galleries Association (AGA). Until Oct 1, at ARTriumui MIT A, 140 Hill Street, MIT A Building. Admission: $2; season pass at $5. Twin Spirits Works of two highly talented Vietnamese
      340 words
    • Article, Illustration
      249 23  -  /tyl Cheah Ui-Hoon The buzz: The process of soul searching and self-understanding might become easier with this exploration of Identity and Art. Plot and players: The speaker for this talk is Adeline Kueh, Director of Studies, Department of Art Theory Art History, School of Fine Art at LaSalle-SIA College
      249 words
    • 862 23  -  By. Parvathi Nayar LET'S place the Body at the centre. If art started as a means of representing the world, the body has been the most important 'object' represented. The way it's been featured has changed dramatically over time: whether evolving from stick figures
      862 words
    • Article, Illustration
      574 24  -  Various musicians join hands to offer a unique mix of Latin rhythms and more exotic tones in Greg Chako's latest album Integration, cheah ui-hoon gets into the groove CHEAH UI-HOON STRUMMING along the new millennium's theme cross-culturalism. ethnic diversity, globalisation, and all that jazz Singapore-based acoustic jazz
      574 words
    • 814 24  -  Retired pianist Tedd Joselson holds a concert to raise funds for promising young talents By Susan Tsang MORE than two years after retiring from performing. pianist Tedd Joselson is still happily ensconced in Singapore. He enjoys his morning swim, daily runs, cooking for intimate dinner
      814 words