The Business Times, 21 October 2000

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Microfilm: NL21969
Total Pages: 22
1 22 The Business Times
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  • Title Section
    Lock icon Masthead
    12 1 THE BUSINESS TIMES >MTTTTST»642/1999 85c SINGAPORE Internet: http://business-times.asial .com.sg/ SATURDAY.OCTOBER 21, 2000
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  • Article
    Lock icon MARKET SUMMARY
    74 1 □sn M23J7 (+39.62) BT-SBI 774J0 (+15.17) ST INDEX FUTURES U3LOO (+34.00) SIMSCI FUTURES 250u50 (+4.50) STOCX HABKET INDICES Friday Change KLSECOMP 778J9 +4.3 NIKKEI 225 15J9873_+387.® BANG SENG 15.***** -622.01 SET INDEX 276.10 +0.41 JAKARTA COMP __4J«3 2.40 JMWLACOMP 1JSL2I *73 TAIPEI WPI 5,404.78 +323.50 SEOUL COMP 545.97
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  • Article
    Lock icon FINANCE
    72 1 rOBEX BATES US* SI US$ 1.751 £(liSS/S$per£) 1.447 2.534 ElJROfl SS/S$/t") 0.846 1.480 DM 1312 1.321 YEN 108* 62.00 RM 3.800 2.170 UKS 7.798 4 454 BAHT 43.47 24.83 RliPIAH 8300 5,083 P1IMEBATES SINGAPORE* 5.80 KTALALTMPllR 7.67 JAKARTA J9.00 BANGKOK .9.50 MANILA 11.00 HONGKONG 8.50 TAIPEI 7.84 SYDNEY .8.50
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  • Article, Illustration
    Lock icon Government goes the auction route for 3G licences
    811 1  -  Total of 4 licences available, with reserve price set at $150 m By Andrew Wee [SINGAPORE] The government is putting up for auction four coveted licences to provide 3rd-generation mobile communications services such as high-speed wireless Internet on mobile phones and other
    811 words
  • Article
    Lock icon S'pore tech stocks back in favour as Nasdaq rallies
    434 1  -  By] R Sivanithy [SINGAPORE] A blockbuster performance by Nasdaq on Thursday, thanks to solid earnings reports by Microsoft, Sun Microsystems and Nokia, sparked a revival in regional markets yesterday. With technology counters in strong demand, the Straits Times Index shot up
    434 words
  • Article, Illustration
    Lock icon NatSteel, NEL shares soar on talk of takeover by Solectron
    658 1  -  Companies' non-committal statements keep market gnessing By Marissa Chew [SINGAPORE] Shares of NatSteel Ltd and its associate Nat Steel Electronics surged yesterday amid rumours NEL could be taken over by US-based Solectron Corporation, the world's largest contract manufacturer. NEL shares
    Source: Bloomberg  -  658 words
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      79 1 Top Stories Bank of America using S'pore as regional forex trading hub. Mmxt Pmgm No change in economic outlook: BG Lee. Pg 7 Another life insurance firm collapses in Japan. Pg 11 Good looks and a F-1 world champ in the making. Pg 9 Warren Buffett fires Gillette CEO. Pg
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      33 1 Taiwan stocks' biggest gain in 9years, Pg 10 Going up? Can the rebound in Asian markets be sustained? Take our on-line poll and tell us what you think. We're at: http://business-ftimes.asia 1 .com.sg
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      103 1 IPO WATCH New listings 100 mark this year *Pg3 Estrada's ally calls for Philippine to end crisis Pg 9 ~[nc JxAttcu.}: rf ItAMOn mn&u; The Arts. Back Page Licences could fetch up to $2b, Pg 2 Commentary: Will confidence in the market be vindicated? Next Page K JK l^H^tt fa/
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  • NEXT page
    • Article, Illustration
      Lock icon Licences could fetch up to $2b in S'pore: analysts
      589 2  -  3G auction Singapore bidding not expected to be too fierce By] Marissa Chew, Andrew Wee [SINGAPORE] Analysts said yesterday that the auction of Third Generation (3G) mobile communications licences could raise up to $2 billion for the government, about an eighth
      CHRIS LOH  -  589 words
    • Article, Illustration
      Lock icon What they say
      238 2 'There will be no quota for foreign or local operators.' Yong Ying-I, CEO, Infocomm Development Authority of Singapore 'For foreigners, Singapore is a small market. There is no huge urgent need to be present in Singapore for foreign players. The aggressive ones like NTT. British Telecom and
      238 words
    • Article
      Lock icon Will confidence in the market be vindicated?
      623 2  -  By I Kenneth James BABIES can melt the hardest hearts. Might that thought have been somewhere in the back of the minister's mind when he made the long-anticipated announcement yesterday? Communications and Information Technology Minister Yeo Cheow Tong would have known that the
      623 words
    • Article
      Lock icon SingTel, MobileOne are the ones to watch
      380 2  -  By Marissa Chew [SINGAPORE] Singapore Telecommunications and Mobile One are the ones to beat in the auction for thirdgeneration mobile communications licences, said market watchers yesterday. Singapore Telecommunications was confident yesterday. Sing Tel Mobile chief Lucas Chow said: "We will definitely participate in
      380 words
    • ON THE grapevine
      • Article
        Lock icon It's not just Singaporeans
        76 2 HEARD over lunch: At one US investment bank, a middle management appointment takes up to nine months from job application to hiring. The manager said this was because she had to be interviewed by every managing director in the bank. "This was so that if I
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      • Article
        Lock icon Dumb and Dumber
        168 2 THE US presidential race is drawing to a close with debates between A 1 Gore and George Bush Jr increasing in frequency. Sadly, there seems to be a consensus that neither is particularly distinguishing himself, with both being roundly criticised for ineptitude. Barron's Alan Abelson in his
        168 words
      • Article
        Lock icon Market wisdom
        85 2 STOCKMARKET investors looking for good advice can do worse that heed this bit of wisdom from US advisory firm No-Load Portfolios, which said on Oct 2: "Beyond the volatile and unpredictable technology area, there are many stocks selling at resonable prices today, when valued at traditional standards of
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    • Article
      Lock icon Bank of America using S'pore as regional forex trading hub
      562 2  -  S'pore team of traders will almost double; fixed-income securities operations will remain in Hongkong By I Siow Li Sen [SINGAPORE] Bank of America has decided to consolidate all its regional foreign exchange trading in Singapore while leaving fixed-income securities operations
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  • SINGAPORE companies
    • Article
      Lock icon New listings unlikely to hit 100 mark this year
      1495 3  -  Poor market sentiment could mean delay of listings such as PSA, Ml and SGZ By\ Ling Su Ann THE number of initial public offerings (IPOs) is unlikely to hit the "psychological" mark of 100 given the sharp plunge in the local
      1,495 words
    • Article
      Lock icon New accounting rules lead to profit swings at property firms
      830 3  -  jioouEaEsa paul thompson THIS isn't the first time this column has carried an article warning changes to accounting rules look set to damage company profits. And it certainly won't be the last. This time we'll look at how proposed new
      830 words
    • Article
      Lock icon MediaWorks may buy existing radio stations
      372 3 Bloomberg SPH Media Works Ltd, the new broadcasting unit of Singapore's dominant newspaper publisher, says it may buy existing radio stations as it aims to keep control of the media advertising market amid intensifying competition. Media Works said yesterday that it had started "exploratory"
      Bloomberg  -  372 words
    • Article
      Lock icon UIC and Haw Par merge their IT business units
      182 3  -  By 1 Eugene Low UNITED Industrial Corporation and Haw Par Corporation have merged their information technology business units. Haw Par will inject its entire stake in subsidiaries Asian Computer Systems (ACS) and Newtech Business Systems into UIC Technologies. The issued and
      182 words
    • Article, Illustration
      Lock icon ST Assembly Q3 earnings soar twelve-fold to US$16.sm
      535 4  -  Strong contributions from clients like Infineon Tech and Alcatel By David Boey ST Assembly Test Services said yesterday that its thirdquarter earnings shot up twelve-fold to a record US$l6.5 million (Ss29 million), underpinned by strong contributions from clients like Infineon Technologies and
      FILE PHOTO; Source: Bloomberg  -  535 words
    • Article
      Lock icon Use S'pore as springboard into E Asia: Richard Hu
      334 4  -  Asset managers here have deep regional understanding By Eugene Low FINANCE Minister Richard Hu yesterday urged major US-based investment association Russell 20-20 (R2O-20) to consider using Singapore as a springboard to tap growing opportunities in East Asia. "There are many partnership
      334 words
    • Article, Illustration
      Lock icon Ex-MediaRing president is Intraco's new CEO
      266 4  -  Ryi Christopher Tan TRADING company Intraco has appointed former MediaRing president Chua Kee Lock to fill a top spot vacated recently by Bernard Chen. Announcing the move to the Singapore Exchange yesterday, Intraco said Mr Chua co-founder of the Net-based phone company he left
      266 words
    • Article, Illustration
      Lock icon BondsInAsia develops first franchise model
      425 5  -  bt ram i J Multi-dealer system will franchise right to purchase software to local dealers By Ling Su Ann BONDSINASIA, the joint venture company formed by Citigroup, HSBC, Deutsche Bank and Bridge, will be the first fixed income trading platform to develop a franchise model
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    • Article
      Lock icon NOL 'best positioned operator in Asia'
      147 5  -  By Paul Thompson THE survival of Asia's container shipping companies will depend upon their ability to provide clients with a total logistics solution, says ING Barings transport research head Neil Payne. And he believes Neptune Orient Lines is "the best positioned operator in Asia
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  • Article
    Lock icon BT SHARE information service
    4639 4 Net Mm CM LHT Hldgs S«p 19 I 0.771 1.168 0.39 0.79 Bate TY LY TY LY L Jacobwt] Sep 12 I 14.582 1248* 8.60 7.40 Ci—— aw CSm) (tm) (cts) lets) UangHuat Sep 27 I 1494 2.2*3 0.2* 0.47 1-1 Links Hland Sep 29 I
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      5 5 Mfl| TODAY©**^***1 lianhe Zaohao Zhongquancun
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      733 5 Bringing you the issues that matter! do Again? people wear they comfortable if4k a the igaporeans' Gallery more°relaxed 88 year-old Matthew liew loves modelling-not of the catwalk variety-bo* i|| and casual.. modelling ships. Tte front desk executive of IMb Stanford Hotel creates miniature replica of aetnalships.lt all looks qoite manageable,
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  • SINGAPORE markets
    • Article, Illustration
      Lock icon Volume tops $1b as Nasdaq rally draws out buyers
      579 6  -  STOCKS r.sivanithy THE 13th anniversary of Oct 19, 1987, came and went on Wall Street not with a crash, as pessimists had expected, but a 7.8 per cent rally on Nasdaq that brought buyers scurrying out of the woodwork all over
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    • Article, Illustration
      Lock icon Want Want wrt: fall could be an error, but care still needed
      211 6  -  WAKKAMT WATCH By: R Sivanithy A FUNNY thing happened to Want Want's 2004 warrants yesterday they plunged 18 US cents to 15 US cents when the shares added half a US cent to 67 US cents. Since only
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    • Article, Illustration
      Lock icon CSM's next resistance may be at $9
      241 6  -  HOT STOCK By' Wong Wei Kong SHARES of Chartered Semiconductor Manufacturing surged yesterday on the back of strong results, closing 11.7 per cent higher at $8.10. The stock hit a day-high of $8.25, after opening at $7.90 and trading to a day low
      241 words
    • Article
      Lock icon Market Notices
      101 6 ♦THE subscription rights of GP Batteries International warrants 2000 will expire at 12 pm, Nov 15. The exercise price of the warrants is currently at US$2.10 <S$3.69) for each share. SpRS ]f|tf«fnnHnnn1 h«a announced that its subsidiary, Digiland.com International, its name to Digiland International with effect from Oct
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    • Article, Illustration
      Lock icon Regional currencies fade after early relief rally
      328 6  -  CURRENCIES larry wee AN early relief rally in response to blistering gains made by US tech stocks overnight proved short-lived yesterday for most regional currencies leaving only North Asian units better on the day. A series of much healthier earnings reports, coupled with
      Source: Reuters  -  328 words
    • Article
      Lock icon Untitled
      471 6 Stocks Volume Nal Elec 10c 49.001.000 PacificCenturylOc 27,128,000 NatSteel 50c 25,894,000 Chart Semiconductor 26c 20,704.000 GES Ind LkJ 20c 19,251,000 Omni tnd 10c 18.625,000 ST Assembly 25c 13,183,000 AddvalTech 2.5c 12.988.000 Adroit 10c 11.591,000 Kian Ann20c 9.141,000 Stocks Nat Elec 10c 169,166,180 Chart Semiconductor 26c 165,415,302 VentureMfg25c 61,542,899 DBSGrp 61,255.303
      471 words
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      63 6 i-- >-— < I 447,500.0°° SY M IPQ shares. Bonds. 1 1 sSV 90 p^ share m Stocks. Annual Reports. 3ft I 1 Whatever you're offering, II M we help you reach out to 86.7% of all adults 11 lniett 1 II S ak*** sm In Singapore dally. m 1
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      44 6 Grow Your CPF With eiBht Important All applications foi units in eight (rust :x? mack on Hie application focus accompanying the prospectus rri'j.t read trie prospectus Tht value cf the? units on' •he nrome from them may tail fis I ►I< >i ;s i
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  • SINGAPORE news
    • Article
      Lock icon Income launches policy against shoddy renovations
      292 7  -  By' Vivien Ng NTUC Income Insurance yesterday began offering insurance against shoddy home renovation, at a premium of one per cent of the renovation contract value. The first of its kind here, the policy covers the renovation period and a six-month warranty against defects.
      292 words
    • Article, Illustration
      Lock icon No change in economic outlook: BG Lee
      658 7  -  9% GDP growth this year and 5-7% next year are still valid forecasts despite global stockmarket correction and higher oil prices, he says Reports by Quak Hiang Whai in Beijing THE Singapore economy remains strong and there are currently no compelling reasons to
      658 words
    • Article
      Lock icon New bosses to make SIP commercially viable
      583 7 THE new controlling shareholder of the loss-making China-Singapore Suzhou Industrial Park Development understands that commercial viability is a key priority and will take necessary measures to turn the company around, Deputy Prime Minister Lee Hsien Loong said yesterday. BG Lee made this point
      583 words
    • Article, Illustration
      Lock icon Two indicators to look out for
      342 7  -  Anna Teo AFTER the slightly dismal showing of September exports, there will be some attention on two indicators due out in the coming fortnight, for signs of any slowdown in the growth momentum. The September index of industrial production the key barometer of the
      Source: CEIC  -  342 words
    • Article
      Lock icon Shortselling: same old unsubstantiated blame
      257 7  -  MAiLrnn Narayana Narayana Singapore, via Internet I REFER to the letter "Is scrip lending allowed? Why?" (Mailbag, Oct 12). I have frequently written that everytime the local share market goes into a tailspin, readers rush in to complain of short-selling being the primary cause, and
      257 words
    • Article
      Lock icon Issue of scrip lending: why is SGX quiet?
      122 7  -  Denis Distant Singapore, via Internet I REFER to the letter, "Scrip lending will not affect sound companies" from Lee Hock Soon (BT, Oct 17), and appreciate his gesture in summarising the situation for the rest of us who cannot help but wonder
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    • Article
      Lock icon There's always a price for excellence
      143 7  -  Raymond Fong Singapore I REFER to the letter "Better to bet on 4-D, Toto" (Mailbag, Oct 18). At the heart of all deregulation, a business must be able to survive and to make a profit. They all have overheads, rentals and salaries to pay
      143 words
    • Article, Illustration
      Lock icon NCC gala dinner nets $1.2m for Cancer Endowment Fund
      121 7 PRESIDENT SR Nathan presenting a cheque for $1.2 million raised at the National Cancer Centre's (NCC) inaugural gala dinner to (from left) Associate Professor Soo Khee Chee, director of the NCC, George Thia, chairman of the Cancer Endowment Fund, and Professor
      121 words
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      67 7 We welcome letters. E-mail us at bttetterQ sph.com.sg or fax us at *****71, or write to: The Business Times, Times House, 390Kim Seng Road, Singapore *****5. We need your full name, address and telephone number, so we can verify It came from you. Please use temperate language, and bear in
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  • e-NEWS
    • Article, Illustration
      Lock icon Nokia won't hang up on cheap phones, says CEO
      618 8 Phones designed for voice rather than sophisticated data services make np over 70% of global industry sales Reuters [STOCKHOLM] Nokia, the world's number one mobile phone maker, said on Thursday the affordable, simple phone rather than expensive models was stUl king
      Reuters; FILE PHOTO  -  618 words
    • Article
      Lock icon Ericsson sees weaker Q4 cellphone replacement market in Europe
      590 8 STOCKHOLM Consumers waiting for phones with new technology dne next year, say analysts Reuters, Bloomberg LM ERICSSON, the world's third largest mobile phone maker, added fuel to fears about the crucial handset replacement market, warning yesterday of a weak Christmas season.
      Reuters,; Bloomberg  -  590 words
    • Article
      Lock icon HK citizens unhappy about electronic ID cards
      624 8 They fear erosion of privacy, govt abuse of information, data theft AP [HONGKONG] The government wants everyone in Hongkong to carry electronic ID cards that could store masses of personal information but many citizens said yesterday they don't want "Big Brother" watching so
      AP  -  624 words
    • Article
      Lock icon Ariba of US picks Softbank to expand Japan e-commerce
      278 8 TOKYO Bloomberg ARIBA Inc, a Mountain View, California-based software company, said yesterday that it wiU tie up with Softbank Corp, Japan's biggest investor in Internet businesses, in an effort to extend its electronic commerce operations for corporate clients in Japan. Softbank
      Bloomberg  -  278 words
    • Article, Illustration
      Lock icon Indian Nets millions
      66 8 [NEW DELHI] Mohammed Karim Basha displaying the winning Internet Lottery letter at his residence in New Delhi yesterday. Mr Basha has become the first winner of Free Lotto's US$lO million (5517.5 million) Jackpot of USA on the Internet. He said he wished to pay off his debts,
      AP  -  66 words
    • Article
      Lock icon MP3.com posts smaller-than-expected Q3 loss of US$6.1m
      435 8 LOS ANGELES Bat analysts remain cautions given pending copyright lawsuit Reuters ONLINE music company MP3.com Inc on Thursday posted a smaller-than-expected quarterly loss of nine US cents a share before charges, but analysts remained cautious about its outlook amid pending copyright litigation by
      Reuters  -  435 words
    • Article
      Lock icon Schrock steps down as AltaVista's chief executive
      417 8 PALO ALTO, California Reuters ALTAVISTA Co, the Internet search service owned by CMGI Inc, on Thursday said that its chief executive Rod Schrock had resigned, just months before the company's target date for an initial public offering (IPO). The company, which has a
      Reuters  -  417 words
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  • REGIONAL news
    • Article, Illustration
      Lock icon Enrile calls for snap poll to end crisis
      738 9 MANILA Call comes as S&P lowers its outlook on Manila long-term ratings to negative from stable Reuters Bloomberg, AFX-Asia, JUAN Ponce Enrile, a Senate ally of President Joseph Estrada, filed a resolution calling on Congress to call a snap presidential election to
      Reuters; Bloomberg,; AFX-Asia,; AP  -  738 words
    • Article
      Lock icon Manila hit by blackout
      92 9 Reuters THE Philippine capital and surrounding provinces suffered a blackout yesterday but the government was quick to dismiss fears of sabotage. The power outage coincided with a call for a snap presidential election. 'There's nothing to worry about. It is understandable that the public got worried,
      Reuters  -  92 words
    • Article
      Lock icon Reuters plans online services for investors
      261 9  -  From I Serena Ng in Sepang, Malaysia GLOBAL financial services and information agency Reuters is looking to tie up with Asian companies to offer online services directly to regional retail investors. The move is part of an overall strategy to diversify into new areas,
      261 words
    • Article, Illustration
      Lock icon Just twenty, Button is fast catching up in F-1 circuit
      562 9  -  From Serena Ng in Sepang, Malaysia AS the F-l season comes to a close, there has been much talk about how Formula One will look next year, with several drivers switching teams, and teams getting new engines and new drivers.
      562 words
    • Article
      Lock icon Daim has not heard of Govt giving up MAS golden share
      155 9 KUALA LUMPUR Reuters MALAYSIAN Finance Minister Daim Zainuddin said yesterday he had not heard of a government plan to give up its golden share in Malaysian Airline System (MAS). "I hold all government preference shares in strategic companies," Bernama
      Reuters  -  155 words
    • Article
      Lock icon Halim wavering on taking Renong private
      402 9  -  Thrnr chairman non-committal letter to Renong board From Eddie Toh in Kuala Lumpur MALAYSIAN tycoon Halim Saad has always contemplated turning listed Renong Bhd into his own private company, but now that he is a step closer to it following his purchase of Renong
      402 words
    • Article
      Lock icon Gus Dur orders delay of action against tycoons
      364 9 JAKARTA Reuters PRESIDENT Abdurrahman Wahid has ordered a delay of legal proceedings against three of Indonesia's most prominent tycoons and debtors because of their key role in the export sector, Antara news agency reported yesterday. The move which follows recent controversial debt
      Reuters  -  364 words
    • Article, Illustration
      Lock icon Taiwan stocks post biggest gain in over 9 years
      569 10  -  6.4% surge driven by US tech rally and market-boosting proposals From\ Macabe Keliher in Taipei TAIWAN stocks surged 6.4 per cent yesterday, their biggest gain in over nine years, as the closely-watched US markets soared and the government announced several economic
      AP  -  569 words
    • Article
      Lock icon Jiang prepared to restart reunification talks: SM
      539 10  -  That is, if Taiwan agrees to a formula that includes concession to "one China" policy From C Catherine Ong in New York CHINESE President Jiang Zemin is prepared to restart reunification talks with Taiwan if it agrees to a formula that includes a
      539 words
    • Article
      Lock icon Trans-Eurasia Information Network gets endorsement
      716 10 Project aimed at research in science, information and communications technology [SEOUL] Marry research and information technology. Use this as a basis for a new information superhighway linking Asia and Europe. And what do you get? A massive modern-day version of the ancient Silk Route called
      716 words
    • Article, Illustration
      Lock icon Asian, European leaders agree to strengthen multilateral trading system
      760 10  -  ASRM SUMMIT They will work closely in IT area; will join issue on democracy, human rights Reports from Yang Razali Kassim in Seoul ASIAN and European leaders yesterday agreed to strengthen the multilateral trading system, which is under threat of breaking
      AFP  -  760 words
    • Article
      Lock icon Wipro climbs almost US$8 on NYSE debut
      385 10 BANGALORE AFP INDIA'S leading information technology company Wipro Ltd climbed almost US$B on its Thursday debut on the New York Stock Exchange debut. At the start of trading the stock opened at U5544.50 per share against the issue price of U5541.38 and closed
      AFP  -  385 words
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      7 9 Renters plans to float Instinet, Pg 11
      7 words
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      146 9 PERMASTEEUSA Group I is a global leader in the design, manufacture and project management of building facade curtain wall system for prestigious buildings. We are looking for to handle the Asia Pacific operations in Singapore, PRC (including Hong Kong), Tuwan, Korea, Thailand, Malaysia, Australia and Japan. If you are ready
      146 words
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  • WORLD news
    • Article, Illustration
      Lock icon Another life insurance firm collapses in Japan
      911 11  -  Kyoei, with 4J>t yen debts, files for court protection Fromi Anthony Rowley in Tokyo JAPAN suffered another life insurance company collapse yesterday when Kyoei Life Insurance announced that it had filed for court protection from creditors. The bankruptcy, the largest to-date of a
      REUTERS  -  911 words
    • Article
      Lock icon United Tech poised to buy Honeywell Int'l
      416 11 NEW YORK Executives say the USs4ob deal could be ready by Monday NYT UNITED Technologies Corp, one of the last old-style conglomerates that makes everything from jet engines to elevators, is expected to buy Honeywell International Inc for about US$4O.3 billion (5570.7 billion)
      NYT  -  416 words
    • WORLDWatch
      • Article
        Lock icon Coca-Cola 03 profit up 39% to US$1b
        61 11 Bloomberg [ATLANTA] Coca-Cola Co said third-quarter profit rose 39 per cent on new-product introductions, cost cuts, and higher retail beverage prices. Profit from operations rose to US$l.O4 billion (Ssl.B billion), or 42 US cents a share, from US$75l million, or 31 US cents,
        Bloomberg  -  61 words
      • Article
        Lock icon UAL posts loss, Northwest gains rise
        112 11 Reuters (NEW YORK] UAL Corp posted a greater-than-expected loss on Thursday as it reduced capacity and had higher labour costs after operational problems this summer, while Northwest Airlines Corp pulled ahead of high fuel costs on strong traffic growth. Chicago-based UAL said the US$64
        Reuters  -  112 words
      • Article
        Lock icon McDonald's Q3 gains up 1%
        65 11 Reuters [OAK BROOK, Illinois] McDonald's Corp said on Thursday its third-quarter profit rose one per cent, meeting expectations, as it offset the impact of weaker foreign currency with strong US sales and a more favourable tax rate. Net income rose to U*****.5 million (***** million)
        Reuters  -  65 words
    • Article, Illustration
      Lock icon Inhuman sacrifice of 17 lives
      84 11 [TE OTIHU AC AN, Mexico] One of 17 skullsfound inside the Pyramid of the Moon in the ancient city ofTeotihuacan, Mexico, near Mexico City, being shown to the media on Thursday. Anthropologists firm the Mexican Institute of Anthropology and History, the University of Pueblo, Mexico
      AP  -  84 words
    • Article
      Lock icon Reuters plans to float Instinet
      305 11 LONDON Analysts expect financial info provider to sell 25% stake in US Bloomberg REUTERS Group pic, the world's largest financial information provider, plans to sell shares in the Instinet stock-trading unit to raise funds from its fastest-growing unit and create stock to use for acquisitions.
      Bloomberg  -  305 words
    • Article
      Lock icon LSE to offer European blue chips
      244 11 LONDON FT, Reuters THE London Stock Exchange has set out a go-it-alone strategy for trading pan-European equities in a move that could usher in a period of intense competition among Europe's share markets. Dimming the Swedish OM group's hopes of success with its hostile
      FT,; Reuters  -  244 words
    • Article
      Lock icon Buffet fires Gillette CEO
      345 11 NEW YORK NYT WARREN Buffett, the world's most famous long-term investor, finally lost patience with Gillette on Thursday. Mr Buffett, a board member, asked for and received the resignation of Gillette's chief executive, Michael Hawley, on the day that the company announced yet another disappointing quarter
      NYT  -  345 words
    • Article
      Lock icon No more secrets, we are American firms
      786 12 Analysts are sceptical about the effects of a new rule requiring US corporations to divulge performance information to everyone at the same time NYT [NEW YORK] Beginning Monday, American corporations will be required to divulge performance information to everyone at the same time,
      NYT  -  786 words
    • Article, Illustration
      Lock icon Al Gore's advisers spell out his Asia policy
      584 12 WASHINGTON He would advocate free trade, among other things Reuters AS president, Democrat A 1 Gore would aim to rebuild consensus for free trade, strongly encourage China and Taiwan to interact, move cautiously with North Korea and maintain American troops in Asia,
      Reuters  -  584 words
    • Article
      Lock icon 41 large US corporations pay no tax in some years: study
      436 12 WASHINGTON They avoid paying taxes through a variety of means Bloomberg FORTY-ONE large corporations, including Texaco Inc, MCI Worldcom Inc, Kmart Corp and Chevron Corp, paid no income taxes in at least one of the three years from 1996
      Bloomberg  -  436 words
    • Article
      Lock icon Abacha fund trail leads to banks in UK: investigators
      375 12 LONDON Nigerian request to freeze accounts nnder study: Britain FT INTERNATIONAL banks' branches in London played a key role in enabling former Nigerian dictator Sani Abacha to launder more than US$4 billion (Ss7 billion) looted from the country during his four-and-a-half-year
      FT  -  375 words
    • Article
      Lock icon Chase, JP Morgan name top 175 at combined bank
      331 12 NEW YORK Bloomberg CHASE Manhattan Corp and merger partner JP Morgan Co have told employees who would hold the top 175 jobs at the combined company's investment bank, including the appointment of seven regional vice-chairmen. Chase, which agreed last month to
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      1038 11 NOTICES To advertise call toll-free 1800-741 1883 Fax No 741 1298 IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF BS INVESTMENTS PTE LTD (In Members' Voluntary Windrig Up) NOTICE IS HEREBY GIVEN in pursuant to Section 308(1) of the Companies Act Cap. 50, that
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      65 12 ll! jpp falS I i' J j mrHJ 1 is.l. 1 M I iMd dismal Htm, borad, sbuMd and oftan tooafy* —m Mgm 1A May awayt I international male model Molai who appears painted and caged under the I hdtftjthtf "jZynfiffrnimftlsfipit't briongincoges" I to the tiger with the help of
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  • FINANCE & commodities
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      Lock icon Futures gain in spite of profit-taking
      284 13  -  SOX Derivatives TnAiagßeport ST Index/MSCI SPpore Index Lau Chee Keong Refco Singapore SINGAPORE stocks ended higher yesterday following hefty gains in US markets, which were helped by upbeat corporate profit results. Technology stocks as well as banking shares led the rise. Investors went after
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      Lock icon Futures burst upper limit end 11% higher
      239 13  -  MSCI Taiwan Index Lau Chee Keong Refco Singapore TAIWAN stocks surged more than 6 per cent yesterday following the strong rebound on Nasdaq overnight and a series of measures announced by the government. The Taiwan stock market was also boosted by industrial output
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      Lock icon Oil prices up on Mid-East crisis fears
      160 13 ENERGY REPORT AFP [LONDON] OU prices firmed yesterday as sporadic skirmishes flared between Israelis and Palestinians, threatening to deraU a fragile US-brokered truce. Benchmark Brent crude for December was one per cent stronger at U5531.15 a barrel, up 41 US cents. US light
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      Lock icon CURRENCY REPORT
      338 13 Reuters London THE yen fell to its lowest levels against the dollar in more than a week yesterday. The Japanese currency's broad-based weakness coupled with persistent wariness of further central bank intervention to shore up the euro, provided some relief to the beleaguered single currency. It managed to
      Reuters  -  338 words
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      1228 13 HTERBAME CROSS RATES Oct 20 tf C$ f» bra FTr P« HK$ hd ts Ya» Won MM M2S Nfc t> N— SS Und SIr «T$ iatt Hmt Australia 0.790 4.392 0426 4.103 1223 4.126 24.*****.094 0.574 5.971 2.011 L3I5 29.712 25.796 0.926 4.027 0.942 17.065 23.005 0.366 0.529 Cmtfa 1252
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      1718 13 Source: HSBC Bank USA S'pore BOOM FUTURES Qct20 RSS1 CONTRACTS cMbfa) OHM V*M OpM KjMtt U» Mtt CI—W) INMMI Nov 00 WJO DK 00 M.75 Jm 01 *7.75 SO FofcOl W25 50 RSS 3 CONTRACT (UlcMtiAt) MM» Op* —Mi I— fatt 0—0 KwH Nov 00 *450 5» Qk 00 865
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  • STOCKS east asia
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      Lock icon HK stocks rebound in relief rally following Wall St gains
      2932 14 HONGKONG AFP UlUngSeag +622.01 HONGKONG share prices closed 4.3 per cent higher yesterday following the overnight rebound on Wall Street, dealers said. The key Hang Seng index gained 622.01 points to close at 15,044.53, off a high of 15,105.45, on
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      Lock icon CHINA
      976 14 Reuters f% Shenzhen B Index +3JS6 CHINA'S hard currency B share markets surged yesterday following a technology-led rebound in domestic A shares, with the Shanghai B share index ending more than 6 per cent higher. The Shanghai B share index closed at 62.39, up 6.44 per cent on turnover
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      Lock icon TAIPEI
      365 14 AFP □wp Index +32X50 TAIWAN share prices rebounded 6.4 per cent yesterday on buying sparked by the government's rescue package for the stock market and Wall Street's overnight gains, dealers said. The Taiwan Stock Exchange Weighted Price Index jumped 323.50 points to close at 5,404.78, on turnover of NT565.97
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      Lock icon Nikkei rallies as investors buy high-techs
      2002 14 TOKYO AFP HNikk«22S +387J6 SHARE prices in Tokyo rallied 2.6 per cent yesterday as investors snapped up information technology issues following a rebound on Wall Street, brokers said. The Tokyo Stock Exchange's Nikkei--225 index surged back from the previous day's close of 14,811.06, its
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  • STOCKS klse
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      Lock icon KL inches up in volatile trading
      410 15 AFP F1 Composite Index +4.79 MALAYSIAN shares ended 0.6 per cent higher yesterday on institutional support for key stocks, dealers said. They said the overnight rebound on Wall Street and in regional bourses also helped lift sentiment. But trade was volatile throughout the day
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      8886 15 2000 '•ST D«v *•< Cap HH» Lew Camppny S«H "000 Higtl Lew P/E Jmtl 420 310 AJinomoto 346 18.9 140.2 158 46 Angkasa 515 2 6 513 50 75.9 670 290 Apollo Food Hlg 428 2 2 428 426 9 3 1712 3825 2700 BAT 50c 3700 unch 414 37.5
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  • SGX clob & regional stocks
    • Article
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      2979 16 BONDS WARRANTS Oct 20 *t Ml M limn K im Lad M Day UHBiili An bum Cmm (jnr Mac HOB La* Ml *«r- CMOI It U» tmfir *«—r Wa IbmHi) Mi Mca <%l rni«i|T laft 51.5 3.5 s Acma W*****4 5 1 K) 5 5 4 6.5 5 41.0 1
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      Lock icon BANGKOK
      730 16 AFP QSETlafex +0.41 THAI share prices edged up 0.1 per cent yesterday after late profit-taking erased early gains made during an active session, dealers said. The Stock Exchange of Thailand (SET) Composite Index added 0.41 of a point to close at 276.60 points and the SET 50 index was
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      Lock icon MANILA
      268 16 AFP P Composite Index -5.73 PHILIPPINE share prices fell 0.5 per cent yesterday with the Composite Index down 5.73 points to 1,251.23. Turnover on the stock exchange fell to 370.9 million shares worth 756.99 million pesos from 533.15 million shares worth 1.04 billion pesos on Thursday.—AFP Oct 20 Ptu
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      Lock icon JAKARTA
      659 16 AFP Composite Index -2.40 JAKARTA share prices closed 0.6 per cent lower yesterday on profit-taking after gains in recent days, dealers said. The Jakarta Stock Exchange Composite Index closed down 2.40 points at 420.33 on volume of 512.3 million shares worth 461.95 billion rupiah. Declines led advances 98 to
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      Lock icon WELLINGTON
      267 16 AFP gNISE-40 +5330 NEW Zealand stocks closed 2.8 per cent higher yesterday following the rise in US markets and speculation Telecom Corp would bid for an Australian mobile phone business. The NZSE-40 Capital Index was up 53.30 points at 1,963.04 on turnover of NZ$l2l million. —AFP Oct to «tt
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      Lock icon SYDNEY
      541 16 AFP *403 THE Australian share market rose 1.3 per cent yesterday after stronger demand for technology stocks in New York overnight buoyed the sentiment of local investors, brokers said. The benchmark All Ordinaries index rose 40.3 points to close at 3,187.8, while the SP/ASX 200 index climbed 43.1 points
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      Lock icon SEOUL
      272 16 AFP n Composite Index +30-93 SOUTH Korean shares rose 6 per cent yesterday with the index up 30.93 at 545.97. Volume came to 368.5 million worth 2.8 trillion won. AFP OctM Amiti Semi 5690 740 Brain Tech 690 -25 Centra) Bank tTO -30 Cheil Comm ***** 9500 OaaGuBank 2»40
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  • Article
    Lock icon STOCK sgx
    7963 17 SGX MAXNBO ARD Transaction date: Oct 20 Or Or M Wt 52-Wk Last Val Day Last Quote Mv D*» YM Nat Cap A«* Mkgti Low Company Sal* COOP) M>j» Law Buyar Sailer C'w P/I $fn* Price mun wmn 163 75 m c Ac ma 50c 79 *1.5 124
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      292 18 Where to wine, dine and entertak.rt(o>& < s "Tunch" is the best for lunch and high tea rolled into one. Which means longer serving hours and even more scrumptious spreads. "Tunch" from 12 noon 4.30pm #16.90 (Adult) 40% discount (Child) "Tunch Karaoke" from 12 noon Bpm #22.90* (Adult) 40% discount*
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      53 18 Flavours of Tasmania FOOD WINE PROMOTION 11-22 October 2000 Discover Australia's second oldest colony in "Flavours of Tasmania", a special Tasmanian Food and Wine Promotion at Top of the 'M' Revolving Restaurant. Reservations: JaP W* 831 6288 /58 JB, "oor nanOaru, iSSfe 133 Orchard Road. S.ngapore *****7 HH: 737 4411
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  • Page 18 Miscellaneous
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      933 18 Page 18 ».< 11 .y ii nTTfiffSM^Central cy. 8.00 Berita. L3O Corporate Watch. 12.00 MN Beyond Belief. BJO Sukmairama (L). 2.00 Headline Graphics. 8.00 AM Kids Central: The LOO AM Cinema, Cinema. 9JO Filem Sensasi: Si Jan- 2.02 To 6 00am* Real-time Big Bug Show. Cinema. tung Hati. Financial Data
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    • Miscellaneous
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      288 18 CRYPTIC CROSSWORD ACROSS 4 Running in and hearing (6) 1 Generally, orchestra so bad 5 H 055 31 department picking up when playing (6,3,5) drunk in warehouse (8) 9 Earty years at home, extrava- 6 Play summer's first innings? No gant (7) restriction on shots here (4,6) 10 Time taken
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  • TheArts
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      Lock icon Fusing sounds of music
      1437 19  -  Asia fusion music in S'pore has seen the experimental efforts of Expect Music's Ambient Asia, Ankara, S'pore Youth Choir and T'ang Qaurtet. While the response of audiences and critics has been favourable, some feel that the S'pore market is not quite ready for the different sounds.
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      Lock icon Light hand on heavy issues
      671 20  -  The Theory ofEvery thing which deals with race, gender, identity as well as questions of life and death, is lifted by its likeable characters and sharply-written dialogue, parvathi nayab gets drawn into the act PARVATHI NAYAR THE Asian American can, and so easily does, become
      671 words
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      Lock icon Darker side of art
      359 20  -  The theme of fear ram through the works of yoing Asia and Europe** artists for a millennium art competition By( Cheah Ui-Hoon FEAR for the new millennium dominated the works of young artists in Asia and Europe when they submitted their interpretation of "The Millennium of
      359 words
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      Lock icon A tantalising journey that stops short
      519 20  -  By Parvathi Nayar IT'S a piece that is unquestionably a visual treat for the eyes with its play on stark spaces, emotive lighting and fluid colour. In Under The Last Dust, director Jean Ng has created a non-text based work that is compelling in
      519 words
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      Lock icon Social message
      793 21  -  parvathx mayar looks at Zhu Wei's works with their strong socio-political commentary PARVATHI NAYAR LIKE all good diarists, Zhu Wei records what he sees and has seen, though his language is pictures not words. These are not inward looking 'dear diary' entries centred around the recorder, more the
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      Lock icon Threading urban chaos and religion
      847 21  -  By 1 Parvathi Nayar THOSE who have fallen into the habit of declaring "The End is Now" with respect to painting as an art-form and figuration as a means of communicating an idea within a painting might want to take a quick look at a
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      Lock icon The healing power of arts
      870 21  -  Painting and music have helped provide emotional rehabilitation and some financial independence for two antistic persons By* Cheah Ui-Hoon JUST by looking at Gregory's abstract art work, with its bold colours and strong strokes, or listening to Sau Ming's note-perfect and rhythmic piano playing, it
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      Lock icon Notions of identity in art
      667 22  -  CHEAH xn-BOOM sits in at the 9th S'pore Art Museum talk on contemporary art CHEAH UI-HOON "Identities can be displaced, it can be hybrid or multiple. It can be constituted through community .family, region, the nation state. One crosses frontiers and boundaries." Madan Sarup, 'Home
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      Lock icon Church woos audience
      327 22  -  By\ Cheah Ui-Hoon IT was not her voice, but her personality that did it. Charlotte Church, in straightforward sassiness, won the hearts of the 760-strong audience who paid no less than $300 per person to hear her sing at the Substation's 10th anniversary Charity Gala dinner this
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      Lock icon THE PROGRAMME
      893 22  -  Compiled by M Yasotha MUSIC Vienna Imperial Concerts In Historical Costumes The Imperial Concerts Soloists will bring you back in time to the eras of Mozart and Strauss, complete in authentic costumes and settings. Oct 27& 28,8.15pm at Victoria Concert Hall. Tickets: $40, $30, $20 $10 available at
      893 words
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      Lock icon SPOTLIGHT
      241 22  -  -By Cheah Ui-Hoon The buzz: A look at the "women's position" within mainstream art history. Tho plot and playra: In the past 50 years, the impact of the many variants of feminism in the practice of contemporary art has been far-reaching and equally complex. This lecture will examine and
      241 words
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