The Business Times, 14 October 2000

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Microfilm: NL21968
Total Pages: 22
1 22 The Business Times
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  • Title Section
    Lock icon Masthead
    14 1 THE BUSINESS TIMES MITA(P) 035/12/1999 85| SINGAPORE SATURDAY, OCTOBER 14, 2000 Internet: http://business-times.asial .com.sg/
    14 words
  • Article
    Lock icon M-E tensions sour market mood further
    790 1  -  Fears of disruption in oil supplies send regional mkts falling and oil prices rising By Ven Sreenivasan [SINGAPORE] Friday the 13th was more like Nightmare on Elm Street in regional equity markets yesterday, as fears of disruption in oil supplies heighten following rising violence
    790 words
  • Article
    Lock icon MARKET SUMMARY
    74 1 Dsn 1360.40 (-5.45) 740.70 (-4.33) ST INDEX FUTURES 1312.00 (-62.00) smscx FOTDKES ***** (-9.50) STOCK MASXET INDICES Friday Change KLSECOMP 756.04 +1116 NIKKEI 225 I5130JI ***** HANG SENG 1 <***** -***** SET INDEX ***** -3.48 JAKARTA COMP —***** -012 MANILA COMP 1,***** +411 TAIPEI WIT 5,876.11 471.10 SEOUL
    74 words
  • Article
    Lock icon FINANCE
    70 1 FOBEX RATES us$ ss US3 1.766 £(US$/S$pcr£) 1.476 1591 EURO(US$/SS/E) 0.866 1518 DM 2161 1589 YEN 107,8 61.49 RM 3.800 2.166 HKS 7.797 4.443 BAHT 43.62 24.86 RIJPLAH 8,966 6,103 PRIME SATES SINGAPORE* 5.80 KUALA LUMPUR 7.67 •JAKARTA J».« BANGKOK 9.50 MANILA 11.00 HONGKONG 8.50 TAIPEI 7.84 SYDNEY AM
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  • Article
    Lock icon Dow recoups part of Thursday's loss
    253 1  -  Bargain-hunters undeterred by strong Sept retail sales data From* Catherine Ong in New York DESPITE stronger-than-expected retail sales number in an inflation-wary environment, US stock markets recovered part of the sizeable losses of Thursday as bargain-hunters moved in to pick up undervalued shares. The
    253 words
  • Article, Illustration
    Lock icon Lend Lease, PSA part ways on waterfront retail project
    519 1  -  |:i By Kalpana Rashiwala [SINGAPORE] Australia's Lend Lease group and PSA Corporation have called off their plans to jointly develop a sprawling retail and entertainment precinct at the $1 billion Harbour Front project at Maritime Square. Several issues could not be
    519 words
  • Article, Illustration
    Lock icon Hello, is SingTel's price jump for real?
    605 1  -  Nobody quite knows what's behind last-minute rise of 80 cents to $3.50 By 1 Ven Sreenivasan [SINGAPORE] Was it a blatant attempt at in-dex-rigging or merely a keying-in error? That was the question brokers were pondering after a post-close transaction on Singapore Telecom,
    Source: Bloomberg  -  605 words
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      Lock icon Page 1 Advertisements Column 1
      73 1 iirsroE Top Stories Contract manufacturer stocks: 2 weeks, $2b market cap loss. Pg* Telstra seen better off in revised deal with CyberWorks. Pg 8 2 Zhu Rongji goes all out to mend ties with Japan. Pg 10 Japan Inc may see another big failure. Pg 11 Middle East could decide
      73 words
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      117 1 jss*3' y*^.. L Nightmare S/ch:A /ncfcos Dow Jones 10.034.58 -3.64 Nasdaq -2.96 Hang Seng 14.680 50 -2.62 Nikkoi > :.U> -1.42 SET 254 26 -1.35 Seoul Comp i. -0.90 Aust All Ord 3.157 60 -0.72 Sll is- -0.29 S. ihOt. I(]C SthH'k •1 Yt'mtvii st>/(//<'/ <>// f\itiol t it tlw
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      83 1 tV^I r I S 8 7 >*mmmmm a-1 i>J3 t-i? J^^4^--*-^>WBN^»<)ufcli^WWWß^-M'i*<IWBBB^^BB» Marl II < (iutiiniiiMiywiUiilinninn|||^H! yfAj |i| fc yflH' nfcumuyij^Ht S£l*T m ml m mi' 9^H|U Bl• ."HBBP <5 &'Jr J7 Breguet. La passion laisse des traces. Wnstwatch "Grande Complication* in 18-carat gold with tourbillon Hand-wound movement, engraved by hand
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  • NEXT page
    • ON THE grapevine
      • Article
        Lock icon Freeing up short-selling
        126 2 BARRON'S Oct 2 issue contains an interesting article about short-selling. It seems the US authorities are considering dropping restrictions on the practice, effectively opening the floodgates. Currently, traders can only short on an uptick, and this is the main restriction that would be scrapped. The rationale is
        126 words
      • Article
        Lock icon Pillows, planes and perilous positions
        140 2 HEARD at lunch recently: A Singapore Airlines First Class passenger said the fully reclining seats could be a health hazard when the plane hits an air pocket. "I realised when I fully reclined the seat, the seat belt slid from my belly button to the
        140 words
      • Article
        Lock icon Burning up
        135 2 AMERICA'S Internet companies continue to burn prodigious amounts of cash, raising the prospect that dozens more will vanish from the landscape over the next year. US research firm Pegasus Research International surveyed 339 Internet outfits and found 273 (81 per cent) burned more cash than they took in
        135 words
      • Article
        Lock icon Sure enough, Hahn's on board
        65 2 HOMEGROWN Internet startup 2bsure.com seems to be going places. It has just hired former CNN anchor Lorraine Hahn as its spokesman. Ms Hahn, formerly CNN Bizasia's financial news presenter, was seen five nights a week presenting economic, corporate and political news. A linguist, she also
        65 words
    • Article, Illustration
      Lock icon Peso dives despite intervention
      372 2  -  CURRENCY JITTERS Up to USssom pumped in daily over past three days amid bribery scandal From. Al Labita in Manila DESPITE intervention by the Central Bank (CB), the Philippine peso plunged to a record low yesterday amid a swirling bribery scandal involving President Joseph Estrada. The
      Source: Bloomberg  -  372 words
    • Article, Illustration
      Lock icon Thai central bank warns of baht speculation
      596 2 Dr M renews call for a ban against unregulated capital flows AP, AFP [BANGKOK] Currency speculators returned to the headlines yesterday, with the Bank of Thailand saying that there are "signs" that they are speculating against the baht, and Malaysian Prime Minister Mahathir
      AP,; AFP  -  596 words
    • Article, Illustration
      Lock icon S-E Asian recovery looks like it could be stalling
      675 2 The market slump and political troubles in the Philippines, Indonesia and Thailand point to trouble for the region Bloomberg WHATEVER happened to Southeast Asia's economic recovery? The Philippine, Indonesian and Thai stock exchanges are among the world's worst performers, their currencies
      Bloomberg  -  675 words
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  • FOCUS markets
    • Article, Illustration
      Lock icon Saudi signal fails to stop oil soaring
      695 3 Traders worried about implications of Mid-East conflict Reuters, Bloomberg, AFP LONDON OIL prices remained in orbit yesterday despite Saudi signals that Middle East violence would not spark a retaliatory Arab export ban against Western support for Israel. Traders scrambling to lock in supplies
      Reuters,; Bloomberg,; AFP; AP  -  695 words
    • Article
      Lock icon Tokyo share prices take another plunge
      529 3  -  Looming bankruptcy in financial sector adds to investor nervonsness From Anthony Rowley in Tokyo TOKYO stock prices dived again yesterday with an impending new bankruptcy in the Japanese financial sector adding to general investor nervousness sparked by the ominous tumble in US markets and
      529 words
    • Article, Illustration
      Lock icon Don't let market plunge blur Net's value, Intel's Grove says
      534 3  -  From Kenneth James in San Francisco DECLARING his faith in the Internet economy, Intel Corp chairman Andy Grove has said the brutal hammering of tech stock prices should not blur the fact the Internet is delivering enormous value that translates
      534 words
    • Article
      Lock icon Telecoms sector big loser as investors flee HK bourse
      318 3  -  Frotni Quak Hiang Whai in Hongkong ESCALATING violence in the Middle East and the consequent oil price rise sent investors fleeing again as the Hongkong benchmark plunged below the 15,000 level. Again led by heavy losses in telecoms counters as well
      318 words
    • Article
      Lock icon Clashes continue amid talk of summit
      561 3 I MIDEAST CRISIS US starts probe into suicide attack on US Navy destroyer Reuters, AFP, AP [JERUSALEM] Clashes erupted between Israeli police and stonethrowing Palestinians after Muslim prayers in Jerusalem yesterday amid world efforts to stem 16 days of violence that has all but
      Reuters,; AFP,; AP  -  561 words
    • INBrief
      • Article
        Lock icon PAS protest outside US embassy
        60 3 AFP [KUALA LUMPUR] Malaysia's opposition Islamic party staged a noisy protest outside the US embassy yesterday, calling for a "holy war" against Israel. Scuffles broke out after about 150 members of the youth wing of the Parti Islam SeMalaysia (PAS) ignored orders from police to
        AFP  -  60 words
      • Article
        Lock icon Indon Muslims in rally against Israel
        88 3 Reuters [JAKARTA] Thousands of Indonesian Muslims took to the streets of the capital Jakarta yesterday, dipping Israeli flags in the blood of a slaughtered goat to protest against Israeli attacks on Palestinians. The largest rally took place outside Parliament. Parliament Speaker Akbar Tanjung joined
        Reuters  -  88 words
      • Article
        Lock icon Paris synagogue set afire, no injuries
        47 3 AP [PARIS] A synagogue in Bondy, north-east of Paris, was set afire before dawn yesterday, the latest in a series of some two dozen anti-Semitic attacks in France coinciding with the crisis in the Middle East. There were no injuries. —AP
        AP  -  47 words
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  • SINGAPORE companies
    • Article
      Lock icon FoodBex gets $10m investment from Warburg Pincus
      326 4  -  By Tang Weng Fai FOODBEX.COM Pte Ltd, a local supply portal for the food and beverage industry, has found a new investor in EM Warburg Pincus. The private equity investment firm yesterday said it had pumped $10 million into Foodßex but did not
      326 words
    • Article
      Lock icon ST Engg surges on Q3 results
      209 4 Reuters SHARES of ST Engineering surged over 4 per cent yesterday afternoon on buying related to its 39 per cent net earnings growth in the first nine months this year. By mid-afternoon, ST Engg was up 10 cents at $2.56, on 6.5 million shares.
      Reuters  -  209 words
    • Article
      Lock icon SIA picks Rolls Royce to power 25 super jumbos
      241 4  -  Company beats GE/Pratt L Whitney alliance to win deal By Ling Su Ann SINGAPORE Airlines said yestei 'ay it has chosen the Rolls-Royce Trent 900 series engines to power its new A3XX super-jumbo aircraft. The airline announced two weeks ago it
      241 words
    • Article, Illustration
      Lock icon $2b slide in 2 weeks; more to come?
      635 4  -  Big Four contract manufacturers could see market value dip further this week By David Boey A NUMBER of results announcements due out on Wall Street in the coming week are likely to weigh heavily on punters' trading calls for shares in the
      FILE PHOTO; Source: Bloomberg  -  635 words
    • Article
      Lock icon Miguel Ko quits Citye for Starwood
      317 4  -  ByL Andrea Tan BARELY a year after he was appointed deputy chairman and chief executive officer of Hongkong-listed CDL Hotels. Miguel Ko has left to head the Asia-Pacific operations of big US hotel chain Starwood Hotels Resorts. The move comes after CDL Hotels sold
      317 words
    • Article
      Lock icon The Ascott seals Beijing apartment deal
      231 4 THE Ascott Ltd, the listed ser-viced-residence arm of DBS Land, yesterday said it had signed a 10-year management agreement to run Fortune Garden, a residential-cum-serviced apartment project in Beijing. The management contract, The Ascott's first in Beijing, comes with an option for the listed
      231 words
    • Article, Illustration
      Lock icon Dire need for better risk reporting in the New Economy
      891 4  -  locksiew paul thompson BEFORE the dark clouds appeared on the tech stock horizon, the temptation was to jump at the chance of investing in dotcom shares, with their promise of rich pickings and early retirement. As opposed to, say a
      891 words
    • Article
      Lock icon Pidemco to reap £21.3m from sale of Canary Riverside stakes
      346 5  -  With HPL, it'll sell stakes in phases 2,3 to CWG; HPL will make £12.8 m By. Andrea Tan PIDEMCO Land said yesterday that it was selling its stake in phases two and three of its Canary Riverside property in London,
      346 words
    • COMPANYBriefs
      • Article
        Lock icon Quickstar vote absention
        80 5 THE Ascott's shareholders' circular on its merger with Somerset Holdings said Quickstar Ltd (which is wholly owned by Schroder Asian Properties LP) had undertaken to vote in favour of the merger and Whitewash Resolution. Quickstar owns 8.35 per cent of the company. Ascott yesterday said Quickstar is
        80 words
      • Article
        Lock icon Alliance Global seeks SGX listing
        51 5 Reuters [MANILA] Philippine glass manufacturer and food distributor Alliance Global Inc said yesterday it planned to list on the Singapore Exchange to raise more funds to finance its expansion. It said it had appointed Nomura Singapore as financial adviser on the planned listing in Singapore.
        Reuters  -  51 words
      • Article
        Lock icon Corrections and clarifications
        41 5 IN our report "Flextech sells MRV shares" yesterday, we said that Flextech has another 121,358 MRV shares held in a trust account. The number of shares held in trust should be 28,519. We are sorry for the error.
        41 words
    • Article, Illustration
      Lock icon WingTai iAdvantage to invest up to $50m more in S-E Asia
      368 5  -  This is in addition to HKsloom invested in Singapore By Siew Yaw Hoong WINGTAI iAdvantage announced yesterday it would invest Ss4o million to Ssso million in Internet data centres in South-east Asia over the next year. This is on
      ARTHUR LEE  -  368 words
    • Article
      Lock icon GE gets SGX nod to issue new shares for merger
      192 5  -  By] Ling Su Ann GREAT Eastern Holdings said yesterday it has received in-principle approval from the Singapore Exchange to issue up to 82.6 million new shares to pave the way for its proposed merger with Overseas Assurance Corporation. GE, one
      192 words
    • Article
      Lock icon BT SHARE information service
      4860 5 Nat earn CPS 0«ta TY 1Y TY LY Ctmrnmiy lUO ilSi JctgJcW ASTI 5«p 05 I 6.182 2-476 4.69 2*9 ABR Htdgs S«p 19 I 2.343 0.491 L21 0*6 ACE Dynamics Sap 05 I 0.537 0.517 0.54 0.63 Acma Sap 29 I 4.088 6.114 2*0 3.70
      4,860 words
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  • SINGAPORE markets
    • Article
      Lock icon Untitled
      503 6 Stocto Volume NOL 14,136,000 Nat Elec 10c 12,230,000 STEngg 10c 10,196,000 SMRT 10c 7,641,000 Chart Semiconductor 26c 7,245,000 SingTel 15c.. 5,774.000 Chartered CL ECW*****9 5,546,000 Omni Ind 10c 5,313,000 PacificCenturylOc 4,299,000 MediaRing 10c 3.615.000 Stocks Chart Semiconductor 26c 51,968,284 DBSGrp 51,959,095 Datacraft 10c 40,132,344 Nat Elec 10c 37,830,178 VentureMfg25c 31,456,900
      503 words
    • Article, Illustration
      Lock icon Friday the 13th mauls all sectors alike
      535 6  -  l I comment STOCKS r.sivanithy Friday the 13th brought more than just superstitious fear yesterday. The fright was real as traders woke up to news that trouble in the Middle East had sent oil prices soaring and stock prices diving. But a mysterious
      535 words
    • Article, Illustration
      Lock icon Oil heats up pressure on US stocks and Asian currencies
      468 6  -  I:l i comment CURRENCIES larry wee REGIONAL currencies again tumbled helplessly yesterday, after an overnight escalation of Middle East tension sent oil prices soaring and Wall Street crashing. Despite trading curbs, the Dow suffered a sharp 3.6 per cent drop
      468 words
    • Article, Illustration
      Lock icon ST Engg looks set to test $2.65
      235 6  -  HOT STOCK By I Serena Ng THE stock of defence technology group ST Engineering rose strongly yesterday after third-quarter results that exceeded analysts' expectations and it looks set for further upside. The counter closed 13 cents higher at $2.59 on volume of 10.2
      235 words
    • Article
      Lock icon Market Notices
      94 6 ♦RAFFLES Holdings has appointed Silkroute Holdings co-chairman Wong Toon King to its board of directors. ♦LI Xin Industries has made Hui Choon Yuen its joint company secretary, effective Sept 29. CHE W Eu Hock has appointed Juliet Ang its company secretary, effective Oct 4, replacing Tang Cheng Lin.
      94 words
    • Article, Illustration
      Lock icon CSC warrant can benefit from stock's upside potential
      186 6  -  WARRANT WATCH R Sivanithy IT is often difficult for stock market investors to recognise the fact the best value emerges in the bleakest of times. Top blue chips like SPH, SIA and DBS are now significantly below their six-month highs, while shares
      186 words
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      Lock icon Page 6 Advertisements Column 1
      76 6 HOME IN ON HDffS SECOND BOND ISSUE AND HTV—- BUILD yP YOUR INVESTMENT PORTFOUO Y bhhi 3 EL A I ■Hi m cßßem 447,500.00° s ipo. Shares. Bonds, ssa.9o p** shaI ft Stocks. Annual Reports, li ft Whatever you're offering, 1 ft we help you reach out ft to 86.7%
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      46 6 Grow Your CPF With eiBht Important At! applications for units in eight must be made on the application forms accompanying the prospectus Investors must tead the prospectus The value of the units and the income from them may fall as well as rise >I< >IISBAJ ir
      46 words
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  • SINGAPORE news
    • Article
      Lock icon Karolinska Institute to set up research arm in S'pore
      462 7  -  Facility to be set np within 2 years will have linkg with NUS and Nun hYom Eugene Low in Stockholm SWEDEN'S Karolinska Institute, one of the world's leading medical schools, aims to set up research facilities in Singapore within one to
      462 words
    • Article
      Lock icon Judge to rule on Grenville condo case today
      555 7  -  By Marissa Chew THE hearing for the Grenville Condominium case drew to a close yesterday, with the outcome expected to set a precedent for how contracts for collective sales will be treated. Justice Kan Ting Chiu is scheduled to rule on the
      555 words
    • Article
      Lock icon PUB to penalise firms which cause voltage dips
      520 7  -  They could have power supply cat; electrical engineers looking after high-voltage equipment could also lose their licences Audrey Tan COMPANIES and buildings that cause voltage dips by not maintaining their electrical equipment properly could have their supply cut, the Public Utilities Board
      520 words
    • Article
      Lock icon CPF top-up: 1.7m S'poreans qualify
      166 7 SOME 1.7 million adult Singaporeans have qualified for the Central Provident Fund topup announced recently by Prime Minister Goh Chok Tong, the CPF board said yesterday. The number includes almost 257,000 who made voluntary contributions to their CPF account to qualify for the top-up. The
      166 words
    • Article
      Lock icon SIAS looks out for minorities
      358 7  -  David Gerald J President CEO Securities Investors Association Singapore I REFER to the letter "Columnist's debt analysis more succinct" by Philip Ixjong Tien Choon (Mailbag, Oct 13). The writer has expressed the view that SIAS could help to monitor and protect the investing public and
      358 words
    • Article
      Lock icon Siemens lands major WAP deal from StarHub
      107 7 SIEMENS Information and Communication Mobile said yesterday it has won a contract to expand Star Hub's Wireless Application Protocol or WAP platform to support up to 50,000 subscribers. The deal involves rolling out new user licences and expanding the system to handle more
      107 words
    • Article, Illustration
      Lock icon Exhibition of Liu Kong's work to travel to China
      394 7  -  Ity Parvathi Nayar IT'S an occasion where pictures will speak more eloquently than words, and in a language that answers the needs both of diplomacy and artistry. To mark the celebration of Singapore's 10th anniversary of diplomatic relations with China, a
      FILE PHOTO  -  394 words
    • Article
      Lock icon Making a case for retrenched workers
      80 7  -  Andrew Cheah Singapore via Internet I REFER to the article "Sing Tel disagrees with IDA stand on tax" by Teh Hooi Ling (BT, Oct 10). If Sing Tel can get away without having to pay a single cent to the IRAS on the compensation
      80 words
    • Article, Illustration
      Lock icon Output gap tipped to turn positive in 2001
      398 7  -  < 3 on the economy output gap Ibfi Anna Teo THE Singapore economy is expected to remain slightly "below potential" for the rest of this year, but the output gap should turn positive in the first quarter of next year and remain
      Source: MAS  -  398 words
    • Article
      Lock icon Independent directors of DBS Land in favour of merger
      211 7  -  Independent Directors of DBSL Hsuan Owyang Lt-Gen (Rtd) Winston Choo Bertie Cheng Shoo Shiong WE refer to the letter by Philip Loong in BT yesterday. As independent directors of DBS Land (DBSL), our responsibility is to ensure that minority shareholders' interests
      211 words
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      72 7 Unique journey, EL 2 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
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  • eNews
    • Article, Illustration
      Lock icon Telstra seen better off in revised deal with CyberWorks
      844 8  -  Aussie firm to spend USs2.43b, get 60% of mobile ventnre From Quak Hiang Whai in Hongkong ENDING months of speculation and uncertainty. Pacific Century CyberWorks and Australia's Telstra Corp finally unveiled their long-awaited global alliance yesterday, with senior officials from the
      REUTERS  -  844 words
    • Article
      Lock icon Net start-up Urbanfetch closes consumer arm
      369 8 NEW YORK Shutdown comes after break-up of merger talks with rival Kozmo.com FT URBANFETCH, the US Internetbased start-up that promised to deliver goods within an hour, yesterday announced the closure of its loss-making consumer business. The company had raised US$7O million (Ssl23 million) in
      FT  -  369 words
    • Article, Illustration
      Lock icon Soros fund to buy over e-retailer
      491 8 NEW YORK It was to announce Blnefly takeover yesterday NYT THE George Soros hedge fund group planned to announce yesterday that it was taking over the struggling Internet retailer Bluefly Inc, a person close to the situation said on Thursday. The move is rare
      NYT; FILE PHOTOS  -  491 words
    • Article
      Lock icon US millionaire, girlfriend to live online 24 hours a day for 4 mths
      219 8 NEW YORK AFP A NEW York millionaire will open up his life to the world for four months with 32 webcams watching his every move starting next week. Josh Harris, a 39-year-old who made a fortune developing
      AFP  -  219 words
    • Article
      Lock icon Vivendi offers to sell BSkyB stake to clinch Seagram deal
      350 8 PARIS New York Times VIVENDI SA, the French conglomerate, has offered to sell its stake in the British Sky Broadcasting Group to secure European regulatory approval of its US$34 billion (5557.8 billion) purchase of Seagram Co, a source close to
      New York Times  -  350 words
    • Article
      Lock icon Hewlett-Packard to offer Internet access to poor in Third World
      306 8 PALO ALTO, California Bloomberg HEWLETT-PACKARD Co will start programmes to bring Internet access to the rural poor in developing countries and will provide US$l billion (Ssl.7 billion) in products and services with partners next year for the effort. The No
      Bloomberg  -  306 words
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      122 8 Since 1975 our worldwide staff of over 275 multi-disciplined professionals [a W m including lawyers, chartered accountants. i k chartered secretaries and bankers have 4 1 I provided confidential and cost effective company formation in all the major low w tax areas including: Incorporation Fees from USSSOO The world's ,r
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  • REGIONAL news
    • Article, Illustration
      Lock icon Singson: Estrada invested payoffs
      454 9 MANILA President fnnded casino with illegal payoffs, Senate told PHILIPPINE President Joseph Estrada invested illegal payoffs he received from gam bling bosses in a casino at a former US Air Force base north of Manila, his estranged associate Luis "Chavit" Singson told a Senate committee probing
      AP  -  454 words
    • Article
      Lock icon Boardroom tussle for control seen at Prime Utilities' AGM
      431 9 KUALA LUMPUR Firm is cash rich; sold stake in IWK for RMl93mcash PRIME Utilities Bhd's annual general meeting on Monday is expected to witness a boardroom tussle for control. The Star newspaper reported sources as saying that two groups led by
      431 words
    • Article, Illustration
      Lock icon Lessons in fortitude from a grand old lady
      973 9  -  WRITER'S JOURNAL Muslims who donlgr&to women should learn from Khun Somchal karim raslan The writer is a Kuala Lumpur-based lawyer and author LIVING in Malaysia, one can get the impression that women are viewed first and foremost as a source of evil.
      973 words
    • Article
      Lock icon Indonesia to seek vital US$4.8b next week
      526 9 JAKARTA Economists say donors will chip in to keep country intact Reuters INDONESIA will ask the world for about US$4.B billion (SsB.4 billion) next week to stay afloat and is likely to get it because donors do not want to jeopardise the strategic
      Reuters  -  526 words
    • Article
      Lock icon Kumaratunga wins crucial support to form govt
      312 9 COLOMBO People's Alliance cuts deals with minority parties AFP SRI Lankan President Chandrika Kumaratunga yesterday won crucial support from minority Tamil and Muslim parties to cobble together a coalition and head off a possible constitutional crisis, officials said. The prime minister of the
      AFP  -  312 words
    • Article
      Lock icon DBS, Dao Heng say no deal imminent
      205 9 SINGAPORE Bloomberg DBS Group Holdings Ltd yesterday denied it's close to taking over a second Hongkong lender in as many years, after a Singapore newspaper reported the bank is in talks to buy Dao Heng Bank Group Ltd. Still, DBS Group, which bought
      Bloomberg  -  205 words
    • Article
      Lock icon Foreign-funded projects to be taxed
      211 9 JAKARTA THE Indonesian government will collect income tax from foreign-financed projects under a recently issued government regulation, a senior Finance Ministry official said. The tax would be payable by suppliers, contractors or other enterprises and expatriates connected with the projects, said Machfud Sidik, director-general of
      211 words
    • Article, Illustration
      Lock icon Zhu Rongji goes all out to mend ties with Japan
      1024 10  -  Meetings with Mori cabinet described as 'in-depth, wide ranging and very productive' Frorn Anthony Rowley in Tokyo CHINESE Prime Minister Zhu Rongji exerted maximum effort yesterday in meetings with his Japanese counterpart Yoshiro Mori to repair damaged relations between the
      AP  -  1,024 words
    • Article
      Lock icon Deutsche, Goldman may help Taiwan with NPLs
      544 10 TAIPEI Tubman and Merrill Lynch are also in talks with MOP Bloomberg DEUTSCHE Bank AG, Goldman Sachs Group Inc and others are in talks with Taiwan's government on possibly taking a stake in an asset management company that will hold bad loans from
      Bloomberg  -  544 words
    • Article
      Lock icon Taiwan eases bank ownership laws
      102 10 Reuters [TAIPEI] A Finance Ministry official said Taiwan's Parliament yesterday revised the island's banking law, loosening ownership restrictions that had impeded mergers in the crowded financial sector. The lawmaking Legislative Yuan voted "to raise the ceiling on a single institutional investor's stake in a bank
      Reuters  -  102 words
    • Article
      Lock icon Sinopec fixes IPO offering at HK$1.61 per share
      476 10 HONGKONG Reuters CHINESE oil giant China Petroleum and Chemical Corp (Sinopec) has fixed the price of its initial public offering at HKSI.6I (550.35) per share for institutional investors, joint global coordinator Morgan Stanley Dean Witter said on Thursday. The retail tranche, or
      Reuters  -  476 words
    • Article
      Lock icon Thailand to try again to sell Siam City Bank
      254 10 BANGKOK Bloomberg THAILAND'S central bank said it's again trying to sell state-owned Siam City Bank Pel, two months after scrapping the sale. The Bank of Thailand is in talks with an unidentified Thai investor who submitted a bid to buy majority
      Bloomberg  -  254 words
    • Article, Illustration
      Lock icon Taiwan's govt and business leaders to meet to try to stop stockmarket carnage
      430 10 TAIPEI Traditional industries tinder threat as they use stocks as collateral for borrowing Reuters TAIWAN government and business leaders will meet today hoping to contain deepening woes in the stock market, which have undermined confidence and threatened
      Reuters; AP  -  430 words
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      535 10 NOTICES To advertise call toll-free 1300-741 1883 Fax No: 741 1298 IN THE MATTER OF THE COMPANIES ACT. CAP 50 AND IN THE MATTER OF PROFER SERVICES (SINGAPORE) PTE LTD NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that the FINAL MEETING of the abovenamed Company win be held at
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  • WORLD news
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      Lock icon Japan Inc may see another big bankruptcy soon
      520 11 TOKYO Nippon Shinp&n finance affiliate could go under with debt of 800b yen Reuters ONLY four days after an insurer became the nation's worst-ever bankruptcy, Japan Inc may be hit by another major failure this time a finance company affiliate of leading
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      Lock icon Andersen looks at partial share sale
      337 11 NEW YORK Bloomberg ANDERSEN Consulting partners agreed yesterday to consider selling part of the company in an initial public offering that may value the world's largest consulting firm at more than US$2O billion (Ss34 billion). The decision followed at least two months of review
      Bloomberg  -  337 words
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      Lock icon Morita leaves 39b yen to heirs
      111 11 AFP [TOKYO] A co-founder of Sony Corp has left 39.3 billion yen (*****.4 million) in inheritance to nine family members, Jiji Press said yesterday. Of that amount, 13 billion yen would be deducted as inheritance tax, Jiji said, quoting the Meguro Taxation Office. The
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      Lock icon Fire prompts Dell to recall batteries used in laptops
      413 11 AUSTIN, Texas New York Times DELL Computer Corp was to announce yesterday the recall of thousands of batteries for its notebook computers after one customer's machine overheated and caught fire a month ago. Dell said on Thursday that the recall would
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      Lock icon US producer prices up 0.9% in Sept
      471 11 WASHINGTON Bloomberg PRICES paid to US producers rose in September, the first increase in two months, as oil, car and food costs soared, the Labor Department reported separately. The Producer Price Index, a measure of prices received by factories, farmers and other goods
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      Lock icon South Korean president wins Nobel Peace Prize
      405 11 He's cited for reconciliation efforts with N Korea AP [OSLO] South Korean President Kim Dae Jung won the Nobel Peace Prize yesterday for working toward reconciliation with North Korea that have prompted hopes for peace on the Cold War's last frontier. The 76-year-old
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      Lock icon GM's Q3 net earnings drop 5.5% with losses in Europe
      274 11 DETROIT Loss in Europe offset by higher profits in North America Reuters GENERAL Motors Corp said on Thursday that third quarter net earnings fell 5.5 per cent to US$B29 million (Ssl.4 billion), due in part to a loss of US$lBl
      Reuters  -  274 words
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      Lock icon Mideast could decide US election
      627 12 Washington being tested in escalating conflict; an effective response would boost Gore's chances Reuters [WASHINGTON] THE dramatically escalating Middle East crisis has put an intense spotlight on foreign policy and could affect the outcome of the US presidential race which is in its crucial closing
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      Lock icon Ex-Russian PM threatens to sue Bush
      335 12 OfcMwiyrihiw(|>cttalhptiHifc*h> Mr*-* B—t* AP [MOSCOW! Former Russian prime minister Viktor Chernomyrdin has threatened to sue Republican presidential nominee George W Bush over the candidate's allegation that he had misappropriated credits from the International Monetary Fund (IMF). During his debate with US Vice-President A 1
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      Lock icon OM Gruppen raises hostile bid for London exchange
      316 12 STOCKHOLM New bid values LSE at between £974 m and £1.06b Reuters SWEDISH OM Gruppen said yesterday it has raised its hostile bid for the London Stock Exchange to between £32.8 and £35.8, valuing the LSE at between £974 million (552.5 billion)
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      262 12 12- \Jm Kevin Perry., More than six million people are t!H British comedy expected to be at the Oktoberfest in Munich this year. The world's largest fair us who are stuck here at this undergrad also sings, plays We and guitar and produces his own MTV- Ji you where style
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  • FINANCE & commodities
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      Lock icon STI Oct futures end sharply lower
      290 13  -  SOX Derivatives Tradingßeport ST Zndac/MSCI STpore Index Lau Chee Keong Refco Singapore SINGAPORE stocks ended lower yesterday foUowing the sharp falls in US markets. Both Nasdaq and Dow Jones were sharply lower overnight, giving up 2.96 per cent and 3.64 per cent respectively. The
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      Lock icon Oct futures end higher in heavy trade
      241 13  -  MS& Taiwan Index Lau Chee Keong Refco Singapore TAIWAN stocks staged a late rebound yesterday after intervention by the state stabilisation fund to reverse sharp early falls triggered by Wall Street's overnight plunge. The MSCI Taiwan gained 3.93 points or 1.5 per cent,
      241 words
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      Lock icon Gold soars amid Mid-East jitters
      201 13 Bloomberg [LONDON] Gold rose to a two-week high on expectations that violence in the Middle East will prompt investors to seek haven in the metal. Gold rose as much as U553.35, or 1.2 per cent, to U*****.65 an ounce in London. "The Middle East developments
      Bloomberg  -  201 words
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      321 13 Reuters London THE euro bounced from its lowest levels against the dollar since last month's Group of Seven intervention yesterday, amid persistent jitters about further rounds of central bank action to support it. With global stock market turmoil undermining the dollar and Middle East tensions and high oil
      Reuters  -  321 words
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      Lock icon Untitled
      1215 13 DITERBAME CROSS RATES ocU3 AS CS—fcfaro Or D« Wh NHH Van Wm KM H2S NHs Nan S$ tmt S> im M< Hmt US$ Australia 0.806 4414 0.615 4032 1.202 4.147 24.666 <7.627 0.573 6271 2.021 1329 31)6125.048 0.933 4.006 0.927 ***** ***** 0J60 0532 Canada 1240 5.476 0.763 5.001 1492
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      1712 13 SICOM FUTURES Oct 13 RUna (Mares dvtaf at UOpa) RSS1 CONTRACTS centsAq) ClOM Mm Opoo iH H» 111 SHt (tui) tetortst Nov 00 07JO DK 00 H8.75 Jan 01 119.75 SO FA 01 121.25 SO RS 3 CONTRACT (US CMttfe) VotaM OpM MoRtfe Hmi Low Sett (toHws) Miih( Nov 00
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  • STOCKS east asia
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      Lock icon Hang Seng Index sinks below 15,000 on Wall St, oil fears
      2891 14 HONGKONG AFP n Han* Sen* -***** HONGKONG shares fell 2.6 per cent yesterday to close below the 15,000-level, on continued weakness in US stocks and concerns over the likely impact of Middle East tensions on oil prices, dealers said.
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      Lock icon CHINA
      1027 14 Reuters nShenzhenß Index -2M CHINA'S hard currency B shares closed sharply lower yesterday as weakness in Hongkong and other Asian markets unleashed a selling spree. The Shanghai B share index ended down 3.54 per cent at 59.25 as turnover nearly doubled to US$7.B9 million from US$3.B4 million on Thursday.
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  1,027 words
    • Article
      Lock icon Mid-East war fears hit Tokyo market
      1996 14 TOKYO AFP QNjUMZB -***** FEARS of all-out war between Israel and the Palestinians coupled with high oil prices drove Tokyo share prices to a 19month low yesterday, brokers said. The Tokyo Stock Exchange's Nikkei--225 index lost 220.33 points, or 1.4 per cent, to close
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      Lock icon TAIPEI
      370 14 AFP QWP Index ♦TLIO TAIWAN share prices rebounded 1.2 per cent yesterday on government support and bargain-hunting despite Wall Street's overnight losses, dealers said. The Taiwan Stock Exchange Weighted Price Index rose 71.10 points to 5,876.11 points, on turnover of NT575.62 billion. Advancers led decliners 346 to 192, with
      AFP  -  370 words
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  • STOCKS klse
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      Lock icon Buying by local funds helps KL buck trend
      440 15 AFP H Composite Index +12J6 MALAYSIAN shares bucked the regional trend to close 1.6 per cent higher yesterday on local institutional buying and selective purchases by some foreign funds, dealers said. The Kuala Lumpur Stock Exchange Composite Index ended up 12.16 points
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      9425 15 INDUSTRIALS Ceeseew protects 2000 Lest Vol Day Mot Cap High Lm Company Sale '000 Hlq» tow P/t Smtl 420 310 Ajinomoto MO 6 1 340 340 18.6 137.8 158 46 Angkese SI 2 33 55 50 7 5.2 670 290 Apollo Food Hlq 418 2 7 418 416 9.1 167.2
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  • SGX clob & regionla stocks
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      Lock icon SEOUL
      307 16 AFP n Composite Index -10J1 SOUTH Korean shares fell 1.9 per cent yesterday with the index down 10.11 at 524.60. Volume was 327 million worth 2 trillion won. AFP Oct 13 Anem Senw 5800 -220 Brain Tech *50 -35 Central Bank 270 -40 Chert Comm ***** -***** Dae Gu
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      Lock icon MANILA
      271 16 AFP Q Composite Index +451 PHILIPPINE share prices rose 0.4 per cent yesterday with the index up 4.91 points to 1,323.65, off a day-low of 1,286.56 points. Volume rose to 873 million shares worth 1.21 billion pesos from 732.44 million shares worth 524.72 million pesos on Thursday. AFP Oct
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      Lock icon WELLINGTON
      259 16 Reuters, Xinhua QNZSE-40 -4L43 NEW Zealand share prices ended sharply down yesterday after a rout in leading stock Fletcher Challenge Energy. The NZSE-40 Capital Index fell 41.43 points to 1,877.40. Turnover was NZ$l3B million. Reuters, Xinhua on u r«oo> Adv«rtt*9« MOS 170 -0.05 37 Air N2 A 1.75 unch
      Reuters,; Xinhua  -  259 words
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      Lock icon SYDNEY
      556 16 AFP PAH Ordinaries -2&B AUSTRALIAN shares fell 0.7 per cent yesterday on the effects of higher crude oil prices and Wall Street's tumble overnight, brokers said. The benchmark All Ordinaries index lost 22.8 points to close at 3,157.6, while the SP/ASX 200 index fell 24.6 points to 3,201.9 points.
      AFP  -  556 words
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      Lock icon BANGKOK
      757 16 AFP □SET Mm -3.48 THE Thai stock market fell 1.4 per cent yesterday in line with major regional markets, and due to concern over higher oil prices and the weak baht, dealers said. The Stock Exchange of Thailand (SET) Composite Index dropped 3.48 points to close at 254.26, and
      AFP  -  757 words
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      Lock icon JAKARTA
      679 16 AFP P Composite Index jg INDONESIAN share prices closed marginally lower yesterday in line with weak regional markets and a falling rupiah, dealers said. The Jakarta Stock Exchange Composite Index closed down 0.22 points at 408.20 on a volume of 339.8 million shares worth 310.8 billion rupiah. Declines led
      AFP  -  679 words
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  • Article
    Lock icon STOCKS sgx
    9174 17 SGXMAXMBOARD Transaction date: Oct 13 Gr Or m Wt 52-Wk U»t Vol D«y L88t Quote OJv 0YM N«rt C«J A»f Loo. C«m—wy HH rOOO) HM> Low Buygr «—r H CV M M PrttB MULTI-INDUSTRY 163 75.5 m c Acmo50c SO »13 78 80 75.5 80 5 43 3.1
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      Lock icon Page 18 Advertisements Column 1
      231 18 Where to wine, dine and entertain..."'(ofas I luil J* Ihe (alesl dancc craze a cu, > I ICO. fSi* |9 v Wne. Dine Entertain ol Jhe Business Times I —Contact Patrick Ang 740 1284 I or Amy (hoo 740 1559 now I CELEBRATE THE LAST CENTURY WITH DE GRAND Hdipfi)
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      61 18 Flavours of 9 Tasmania FOOD WINE PROMOTION 11 -22 October 2000 Discover Australia's jjj second oldest colony in "Flavours of Tasmania", a special Tasmanian Food and Wine Promotion at Top of the 'M' Revolving Restaurant. Reservations: Jik Vfl 831 6288 /58 W Revolving v EjMP 1 .Mandarin QQ Singapore jjSl&i
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  • Page 18 Miscellaneous
    • Miscellaneous
      Lock icon Page 18 Miscellaneous Column 1
      821 18 Central 8.00 Berita. Weaver. I I I inn 12.00 MN Beyond Belief. 830 Pertemuan. LOO Headlines. 8.00 AM Kids Central. The LOO AM Cinema. Cinema, 930 FUem Sensasi: Bertun- LO2 From Vision To Realibig bug bhow. Cinema. ang ty (r) 9.00 Hip-oAjidFriends. L 3° Gamcs 4 Vl 1130 ita Dan
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    • Miscellaneous
      Lock icon Page 18 Miscellaneous Column 2
      263 18 CRYPTIC CROSSWORD ACROSS desert (5) 1 Y for Yankee holiday? (6,2,4) 5 Paying enthusiastically, press--8 After talk, allowed back item of ""9 (7) property (7) 6 Youngster in form always let out 9 Earn, we hear, enough to give (7) Russian tea (7) 7 One sportingly offers a second 11
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      215 19 A season of theatre I i k The local theatre scene is abuzz with now work from Singapore Repertory Theatre, The Necessary Stage and Fiction Farm all making thou debut next Wednesday. The plays raise issues of identity, sexuality and humanity in ways that piovoke and entertain but is the
      215 words
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  • TheArts
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      Lock icon Unique journey
      721 20  -  A major exhibition of 47 selected works by S'pore pioneer artist Liu Kang not only marks his contribution to local art history but also his continuing relevance. PARVATHI MAYAR traces his artistic development PARVATHI NAYAR am an Oriental," once said Singaporean pioneer artist Liu Kang. "When I pick
      721 words
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      Lock icon Church charms
      659 20  -  Teenage soprano Charlotte Church, dne to make her charity debnt in S'pore, gets her thrills from performing live By Monica Gwee THERE is the genuine talent, then there is the making of a star. Charlotte Church is not in the Britney Spears or Mandi Moore mould (although they
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    • Article
      Lock icon Powering innovation
      339 20  -  Cheah Ui-Hoon AMANDA Heng, Zai Kuning, Royston Tan may be artists in different fields but they have one thing in common they were nurtured and launched in The Substation, Singapore's first multi-cultural and multi-disciplinary non-profit arts centre. The brainchild of 1989 Cultural Medallion winner Kuo Pao Kun, the
      339 words
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      Lock icon Nurturing grounds for budding stage talents
      450 20  -  Ryi Cheah Ui-Hoon TAKING the dramatic arts in Singapore to a higher level, two organisations with no less than 45 years of experience between them have started up new theatre training programmes: The 10-year-old Drama Box and The Practice Performing Arts School (PPAS) which
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      Lock icon the plays let begin
      2166 21  -  By Parvathi Nayar ANY astrologer worth his theatrical salt will tell you that Oct 18 marks a confluence of artistic stars in Singapore no fewer than three new plays open that day, plus an assortment of other theatrical, musical and artistic events that week. Surf the
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      Lock icon Selling shows in Singapore
      534 21  -  By 1 Parvathi Nayar "Could we book tickets for Joseph and the technicolour love machine?" and demands of that ilk are some of the easier—and frinnier —questions that Sistic has to deal with in the business of selling shows to Singaporeans. For Singaporeans are not an
      534 words
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      Lock icon Ancient music comes alive
      326 22  -  The acclaimed Gundecha brothers will be performing Dhrupad, the North Indian classical music that was heard in Moghul courts over 500 years ago. CHEAH UI-HOON finds out CHEAH UI-HOON THE most ancient style of North Indian classical music, Dhrupad, will resound in the Asian Civilisations Museum
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      Lock icon Coming your way—a reel taste of Europe
      409 22  - Coming your way —a reel taste of Europe By Aaron Lye IT seems like film festivals are sprouting up like mushrooms all over Singapore barely has a week passed after the British Councils Short and Curlies before another begins. Organised by the European Union Cultural Committee and the Singapore Film
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      Lock icon THE PROGRAMME
      789 22  -  Compiled by] M Yasotha MUSIC Singapore Symphony Orchestra Bach 25th Anniversary Commemoration Join virtuoso organist Margaret Chen in a special recital and presentation which explores the myths surrounding the death of JS Bach. Oct 15,4pm at Victoria Concert Hall. Tickets: $15, $12 $8 available at Sistic (348-5555). CHIJAZZ'
      789 words
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      Lock icon SPOTLIGHT
      202 22  -  -By Cheah Ui-Hoon Thl bus: What is being true to one's culture? See how cricket bells, Turkish tea cups and gynaecological instruments and other seemingly common or random objects contribute to your idea of empire building, colonisation and migration. TIM plot and ptayori: South Australian-based curator and artist Niki
      202 words
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