The Business Times, 24 February 2001

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Total Pages: 27
1 27 The Business Times
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  • Title Section
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    14 1 THE BUSINESS TIMES MITA (P) 028/12/2000 SINGAPORE Internet: http://business-times.asial .com.sg/ SATURDAY, FEBRUARY 24, 2001
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  • Article
    Lock icon MARKET SUMMARY
    73 1 Dsn 144&86 (+2.24) BT-SRI 803.60 (+0.03) ST INDEX FUTURES Ma (-4.00) PI Sana futures U moo (+0.50) STOCK MABKET INDICES Friday Change KLSE COMP 712.7S -fl.72 NIKKEI 225 *****.00 +***** HANG SENG *****.56 +***** SET INDEX ***** +1552 JAKARTA COMP —438.65 +1.62 MANILA COMP _1,M7.00 +5.95 TAIPEI WPI
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  • Article
    Lock icon FINANCE
    77 1 FOREX RATES us$ s$ US$ (SS per US$) 1.745 £fUSS/S$ per 1.446 2J24 EURO(US$/S$/E) 0.906 1J81 DM 2.158 1337 YEN 116-8 67.00 RM 3500 2.178 HK$ 7500 4.470 BAHT 43.14 24.72 JRJPIAH 9.666 5,5,19 PRIME RATES SINGAPORE* 5.80 KUALA LI MPlTi .7.67 .JAKARTA 39.00 BANGKOK 9.50 MANILA 11.00 HONGKONG
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  • Article, Illustration
    Lock icon A big boost for businesses, personal perks for all
    1317 1  -  Biggest surprise was 1-point cat in corporate income tax rate to 24.5% from TA 2002; tax breaks for stock options widened By Anna Teo [SINGAPORE] Even though he had drummed up expectations with pre-Budget hints of "generosity", Finance Minister Richard Hu
    Source: Ministry of Finance  -  1,317 words
  • Article
    Lock icon It's bonanza time
    707 1  -  COMMENTARY Tills Budget must rate as the best ever, writes nus ehIUKA VIKRAM KHANNA WHAT more could you ask? Of all the budgets presented by Finance Minister Richard Hu since 1986, this one has to be right up there as the most generous to date. It didn't
    707 words
  • Article, Illustration
    Lock icon S&P blow for Japanese economy
    930 1  -  It joins other rating agencies in downgrading country's sovereign debt From i Anthony Rowley in Tokyo THE beleaguered Japanese economy was dealt a further blow yesterday when Standard Poor's joined other major rating agencies in downgrading the country's sovereign debt. The downgrading will inflict more
    ARTHUR LEE  -  930 words
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      89 1 INSIDE Top Stories (JOB Asia pleads guilty to 2 charges. Next Page Toshiba, Matsushita to invest US$l b in S'pore. Next Page SIA confirms joint bid with Tata for Air India. Pg 9 S'pore Power awards share sale mandate. Pg 10 Runway lights at Chiang Kai-shek did not meet standards:
      89 words
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      66 1 Other reports Firms, especially SMEs, jubilant about new tax regime. Pg 3 More goodies for the lower-income, pg 4 Brokers applaud corporate tax cut pg 3 You win some, you lose some: BT Rountable panefists. Pg 6 Business bodies still pine for cost cuts, pg 3 Strong revenue growth, pg
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      46 1 THE ARTS rSF 182 |'C New directions H for Singapore theatre a Back Page SuperDuper Treat Read your way to $1,000 worth of Super Dollars vouchers. Just read ■MMBUIiV (Theatre from England, on the Children First! arts festival, Pg 27) and answer two easy questions on
      46 words
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  • NEXT page
    • ON THE grapevine
      • Article
        Lock icon Straight from the horse's mouth
        100 2 IT has been some two months since Amazon.com's founder Jeff Bezos gave small investors a piece of advice. In a TV interview in December when his company's shares had collapsed to a new low, he said: "I always try and warn small investors away from
        100 words
      • Article
        Lock icon Late starter, quick learner
        80 2 AT Great Eastern Holdings's conference on Thursday evening to announce its FY2OOO results, its chief executive Tan Beng Lee proclaimed that it was only the third time that the company was holding a results conference in its 92-year history. GEH apparently has a lot of catching-up
        80 words
      • Article
        Lock icon Grey area for Hyundai customers
        107 2 HYUNDAI distributor Komoco carried an advertisement recently to say that its South Korean marque had no parallel importers here. Its point was that Komoco sold Hyundai vehicles at low margins and therefore presented no incentive for grey importers to partake of the brand. But just
        107 words
    • Article
      Lock icon UOB Asia pleads guilty to 2 charges
      523 2  -  It admits to misleading the public in Hna Kok, eWos IPOs; faces maximum fine of $500,000 for each charge By. Angela Tan [SINGAPORE] UOB Asia, the corporate finance unit of United Overseas Bank (UOB), pleaded guilty yesterday to two of the four charges
      523 words
    • Article, Illustration
      Lock icon S'pore's first LCD plant to be set up at over US$1b
      401 2  -  Toshiba, Matsushita joint venture will start production in July 2002 By] David Boey [SINGAPORE] Two Japanese electronic giants, Toshiba Corporation and Matsushita Electric Industrial Company, yesterday announced a surprise investment that promises a fillip for Singapore's electronics sector. They
      AFP  -  401 words
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      10 2 OCBC profit up 16.4%, but short of expectations, Pg 9
      10 words
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      37 2 >MF*- y •*ilii}' HfT 'fr m. ■>:*:<» *w*lf ••>'♦ "••->•• i Mlii wE^<:-®HKj.. v y *3^^^ Someone keen on expanding horizons. Someone who will relish the responsibilities. Get the edge in hiring the right one. TbeStraitsTimes Call 1800 741 1883
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  • BUDGET 2001
    • Article
      Lock icon Companies, especially SMEs, jubilant about new tax regime
      638 3  -  Savings will be largest for companies whose taxable income is below $100,000 Byi Chuang Peck Ming TWO-thirds of all companies mainly small and mid-sized ones will be taxed at less than half the previous rate under the new corporate tax regime unveiled
      638 words
    • Article
      Lock icon Govt wants 50:50 split between direct and indirect tax
      440 3  -  By Teh Hooi Ling THE government aims to raise the share of revenue from indirect taxes to 50 per cent, from the present 40 per cent, Finance Minister Richard Hu said in a Budget forum on television last night. "We always
      440 words
    • Article
      Lock icon Welcome news for sellers and buyers of software
      319 3  -  By Kenneth James THE tax proposals on software payments and intellectual property are welcome news for sellers as well as buyers of software, local industry executives say. In his Budget speech yesterday, Finance Minister Richard Hu said payments to non-residents for some
      319 words
    • Article, Illustration
      Lock icon Brokers applaud corporate tax cut
      409 3  -  Earnings growth seen rising from 14% to 15.5%; lift for market expected By R Sivanithy STOCKBROKERS were pleased by the unexpected cut in corporate tax and believe investors will welcome it. "The cut was a pleasant surprise and will have some positive impact on the
      FILE PHOTO  -  409 words
    • Article, Illustration
      Lock icon Govt signals it's leaving property market alone for now
      762 3  -  By Kalpana Rashiwala THE government yesterday gave a clear signal it was prepared to leave the property market alone for now. Property market players weren't expecting any major goodies from the Budget and they didn't get any. But developers will enjoy
      762 words
    • Article
      Lock icon Business bodies still pine for cost cuts
      418 3  -  By Chuang Peck Ming BUSINESS yesterday generally welcomed the latest government Budget, calling it pro-business, timely and the most generous in recent years. But some still thought it did not go far enough to meet their needs. Both the Singapore Confederation of Industries
      418 words
    • Article
      Lock icon What they say
      137 3 'In essence, this budget contains something for everyone —except smokers!' Dirk Pmlmwi, chairman, Singapore International Chamber of Commerce. 'This Budget delivers the necessary oomph to nudge corporationsfurther into the knowledge-based economy.' Albert Poon, director, KPMG. 'This is a pro-all Budget... Everyone will be happy with the rebates
      137 words
    • Article
      Lock icon Financial sector has to settle for general benefits
      441 3  -  By Siow Li Sen FOR the first time in recent memory, there was nothing in the Budget for financial services. Yet, on closer look, many of the tax cuts and tax breaks will benefit the industry and its participants, said consultants. Winnie
      441 words
    • Article, Illustration
      Lock icon Fewer COEs likely this year
      420 4  -  By< Christopher Tan REVENUE projections in the Budget suggest that the number of certificates of entitlement (COEs) to be auctioned this year will be smaller. However, industry expectations are that the fall will be small and the quota for this calendar year will still be
      Source: MOF,LTA  -  420 words
    • Article
      Lock icon What they say
      231 4 'We never thought there will be a corporate tax cut... It will encourage more British investments in Singapore.' Shanker Ayer, president, British Chamber of Commerce 'The budget is prudent and appropriate... a very good budget.' Nicholas de Bonrsac, president, American Chamber of Commerce 'Do I welcome it?
      231 words
    • Article
      Lock icon More goodies for the lower-income: CPF Top-up, S&Cand rental rebates
      574 4  -  The top-np, amounting to $1 billion, will be doled out within 12 months, says Dr Hn Byi Andrea Tan THE government yesterday signalled that it would be doing more to help lower-income Singaporeans, via three schemes. In his Budget address
      574 words
    • Article
      Lock icon Tax deductions for donations of shares to charity
      271 4  -  By' Ven Sreenivasan IN a move to encourage philanthropy, the government has decided to allow tax deductions on donations of shares to qualifying charitable institutions. The move comes as a growing number of individuals and companies have taken to donating shares of
      271 words
    • Article, Illustration
      Lock icon Generous tax cuts for individuals
      833 4  -  Majority will pay at least 25% less, with lower, middle income benefiting the most By\ Marissa Chew THE government was especially generous to individuals in its Budget 2001, handing them a new lower tax regime as well as a one-off income tax rebate of 10
      FILE PHOTO  -  833 words
    • Article
      Lock icon Dr Hu widens tax perks for stock option gains
      485 4  -  Major advance on scheme introduced last May Reports by Kenneth James IT was widely anticipated and yesterday Finance Minister Richard Hu delivered. He announced income tax concessions on stock options granted to employees of all companies, both local and foreign, and
      485 words
    • Article
      Lock icon CPF tax breaks seen wooing young entrepreneurs
      320 4 Self-employed will also be more motivated to save for retirement TAX breaks for CPF contributions of the self-employed could encourage young people to test the entrepreneurial waters, local industry executives said. "The self-employed is, in a way, both employer and employee," Finance Minister
      320 words
    • Article, Illustration
      Lock icon You win some, you lose some
      1174 6  -  FTrrounatapTe By\ Serena Ng THE 2001 Budget packed quite a number of pleasant surprises, especially the corporate tax cut, exemptions for companies, and the reduction of the property tax rate, said participants of BT's roimdtable on the Budget yesterday. But the Budget was not
      1,174 words
    • Article, Illustration
      Lock icon Strong revenue growth
      701 6  -  EUGENE LOW combs through the Budget Book EUGENE LOW Thanks to better-than-expected economic growth in 2000, the government anticipates a larger budget surplus of $5.4 billion for the current fiscal year ending in March. And for the next fiscal year, from April 2001 to March 2002, the
      Source: MOF  -  701 words
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      627 5 ii*st i East Im J Bk Customer Centre (COPC) 2000* Standard, I A which P 0 compf#^*rkMV methodical framework to HHIJ JLA J .^pi;; f|ofo2 Stn rtAil^rmrinpa J^"r **cr^:* i «f«r»«r'«r»«^^ v M EASU RIISTG UPTO TPfFWORLD'S BEST CERTIFIED "We are proud to be part of a company that is
      627 words
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  • BUDGET speech
    • Article, Illustration
      Lock icon A pro-business regime
      3537 7 We reproduce below Part 3 of Finance Minister Richard Hu's Budget Speech on the tax changes and other provisions. THE government is committed to creating the best conditions for private enterprise to flourish, while adhering to the principles of fiscal prudence. Our aim has always been to
      ARTHUR LEE  -  3,537 words
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  • SINGAPORE markets
    • Article
      Lock icon Untitled
      513 8 Stocks Volume Lankom US2c 40,318,000 PCI 25c 15,829,000 PacificCenturylOc 12,472,000 Vicplas5c 9,215,000 Chart Semiconductor 26c 8,352,000 ChewEuHock 20c 6,844,000 CapitaLand 5,924,000 Hyflux 5c 5,893,000 NOL 5,507,000 SGX1c 5,035,000 Stocks OCBC 53,240,206 Chart Semiconductor 26c 47,728,020 DBSGrp 47,320,912 SIA 26,798,020 SPH 21,399,240 PCI 25c 20,011,880 Lankom US2c 18,639,110 UOB 17,832,525 VentureMfg25c
      513 words
    • Article, Illustration
      Lock icon Old Economy shares help to offset tech stock fall
      550 8  -  I=ll comment STOCKS r. sivanithy TECH stocks took another hit yesterday following Nasdaq's slump to a twoyear low overnight but this was off-set by a modest recovery in SPH and property counters. The net result was a ho-hum session, with the
      550 words
    • Article, Illustration
      Lock icon Penguin wrt's appeal lies in time and low price
      188 8  -  WARRANT WATCH By: R Sivanithy THE penny stock rally of two weeks ago is now a distant memory, with most of the second line having fallen back in thin volume. It really was a case of making hay while the sun
      188 words
    • Article, Illustration
      Lock icon Hotung: interest starting to build up
      241 8  -  HOT STOCK Byy Ven Sreenivasan THE share price of Taiwanese venture capital company Hotung is just a third of what it was two years ago, even though it has recovered since the start of this year. The stock closed unchanged yesterday at 19.5 US
      241 words
    • Article
      Lock icon Market Notices
      140 8 EASTGATE Technology has changed the name of their Taiwan subsidiary from Storewell Media to Storewell Media Manufacturing. ♦METALOCK (Singapore) will hold its EGM on March 12, at 10.00 am, 76 Bras Basah Rd, Carlton Hotel, Connaught Room. ♦MCL Land will go ex-dividend (final dividend of 3.00 cents) on
      140 words
    • Article, Illustration
      Lock icon Japan rating fall, Turkey lira plunge weigh on Asian units
      342 8  -  CURRENCIES larry wee ASIAN units were held down yesterday by overnight news that the credit rating of Japan's official borrowings had been downgraded, and that the Turkish lira's float had exacted a heavy toll on Latin American currencies. US rating
      Source: Reuters  -  342 words
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  • SINGAPORE companies
    • Article, Illustration
      Lock icon OCBC net profit up 16.4%, but short of expectations
      702 9  -  Bank sees modest operating profit growth in 2001, and lower interest rates Byi Angela Tan OVERSEA-CHINESE Banking Corporation Ltd (OCBC) yesterday unveiled a less than sterling set of 2000 earnings, with company officials expecting modest core operating profit growth in 2001
      ARTHUR LEE  -  702 words
    • Article
      Lock icon SIA confirms joint bid with Tata for Air India
      280 9  -  Reports put Air India's worth at USs6BBm Byi Serena Ng SINGAPORE Airlines confirmed yesterday it has submitted an initial bid for Air India in a joint proposal with Indian group Tata. An SIA spokesman declined to release details, but reports say
      280 words
    • Article
      Lock icon China zeros in on governance
      568 9  -  lock siew loh hui yin CORPORATE governance, never a strong suit in China, is finally getting some attention as the country prepares to join the World Trade Organization this year. Two developments in as many weeks point to this direction by Chinese securities regulators. The
      568 words
    • Article
      Lock icon S'pore Power awards share sale mandate
      266 10  -  DBS Bank, Merrill Lynch, ÜBS Warburg appointed joint global coordinators and bookrnnners Byl Loh Hui Yin DBS Bank, Merrill Lynch and ÜBS Warburg have won the prestigious job of managing the first share sale of govern-ment-owned Singapore Power, scheduled later this year. The three
      266 words
    • Article
      Lock icon Media Works full-time staff awarded share options
      402 10  -  First tranche of pre-IPO options given to staff in service on Feb 15 Byl Teh Hooi Ling SPH Media Works has issued share options to its 307 full-time staff, exercisable at the par value of 10 cents a share. Full-time staff, including artists
      402 words
    • Article
      Lock icon Central Prop's net profit falls by more than half to $ 19.2m
      287 10  - Central Prop's net profit falls by more than half to 19.2m By\ Serena Ng CENTRAL Properties yesterday said its net profit for the 2000 financial year slipped 56 per cent to $19.2 million, from $44.1 million a year ago. The company said in a statement that its profit was dragged
      287 words
    • Article, Illustration
      Lock icon SingTel to step up acquisition drive
      638 10 Bloomberg SINGAPORE Telecommunications Ltd said it will step up efforts to buy stakes in Asian firms, taking advantage of falling share values to expand in the region. Singapore Telecom, which is bidding for Cable Wireless Optus Ltd, Australia's second-biggest phone company, is interested in
      Bloomberg  -  638 words
    • Article
      Lock icon Eng Kong hires Ferrell to handle $5m of its reserves
      164 10 MAINBOARD-listed Eng Kong Holdings Ltd is finalising arrangements to appoint a fund manager, Ferrell Asset Management Limited, to manage and invest part of the group's cash surpluses. As at June 30 2000, the group had approximately $14.6 million in cash
      164 words
    • COMPANY Briefs
      • Article
        Lock icon Boardroom profit up 17%
        37 10 MEDIA firm Boardroom Ltd said net profit for the half year to Dec 31 rose 17 per cent to $2.36 million from a year ago. Turnover rose 16.6 per cent to $8.6 million.
        37 words
      • Article
        Lock icon Ayala Int'l net earnings up
        45 10 Ayala International Holdings, formerly TLB Land, said 2000 net profit rose to $6.69 million from $6.0 million a year ago, largely due to gams from the disposal of four subsidiaries and certain assets in line with the its restructuring exercise.
        45 words
      • Article
        Lock icon Lian Beng profit tumbles
        36 10 Lian Beng Group's net profits fell 75 per cent to $1.1 million for the six months to Nov 30. Revenue was 47 per cent lower at $39.1 million. No dividend was declared.
        36 words
      • Article
        Lock icon Sunlight launching warrant issue
        38 10 AFX-Asia Sunlight Group Holdings Ltd said it will launch a l-for-2 warrant issue in conjunction with a secured transferable loan worth $18.0 million. The 93.75 million warrants will be issued at $0,025 each. —AFX-Asia
        AFX-Asia  -  38 words
  • Article
    Lock icon BT SHARE information service
    4789 9 Net earn CPS NH Ceramics Sep 13 P 2.569 2.149 4.84 4.13 Date TY LY TY LY NM Hldgs Sep 26 I 0.106 1.197 0.07 0.88 Company ann (Sm) ($m) (cts) (cts) Hi Dim craft Sec 18 I 0.258L 1.183L 0.00 OJL NOt Sap 22 I
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      1244 10 CENTRAL PROPERTIES LIMITED AND ITS SUBSIDIARIES (Incorporated in Singapore) PROFIT AND DIVIDEND ANNOUNCEMENT I UNAUDITED RESULTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2QOO 1. Unaudited Profit and Loss Accounts The Group The Company 2000 1999 Change 2000 1999 Change Ss'ooo Ss'ooo SS'OOO SS'OOO Revenue Dividend income 16,921 16,378 +3.3
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  • SINGAPORE news
    • Article
      Lock icon GLCs contribute just 12.9% to GDP: BG Yeo
      470 11  -  MNCs play a much bigger role, accounting for 42% By] Eugene Low THE generosity of the Budget wasn't the only surprise yesterday. Trade and Industry Minister George Yeo raised eyebrows in Parliament when he revealed that contrary to popular opinion government-linked companies
      470 words
    • Article
      Lock icon Bill introduced to abolish rent control
      214 11 NATIONAL Development Minister Mah Bow Tan introduced the Control of Rent (Abolition) Bill 2001 for first reading in Parliament yesterday. The Bill provides for the abolition of rent control in Singapore in three stages. The first is scheduled to take effect on April 1,
      214 words
    • Article, Illustration
      Lock icon What SIA says
      103 11 Statement issued by Singapore Airlines "When we accepted responsibility for the SQ 006 accident, we said that we wanted to understand how and why such a tragic accident could have happened. "This report, issued by Taiwan's Aviation Safety Council today, sets out the facts. As we understand
      Statement issued by Singapore Airlines; AP  -  103 words
    • Article
      Lock icon Runway lights at Chiang Kai-shek did not meet standards: report
      665 11  -  The factual findings do not blame anyone for the Oct 315Q006 crash From. Macabe Keliher in Taipei THE top investigator into the Singapore Airlines crash last October said yesterday that runway lights at the Chiang Kai-shek (CKS) airport did not
      665 words
    • Article
      Lock icon 1Ist round of S'pore, Australia FTA talks ends on warm note
      180 11 TALKS between Australia and Singapore on a free trade agreement was described as "warm and friendly" by the two governments in a joint statement yesterday. The first round of negotiations on the Australia-Singa-pore Free Trade Agreement was held from
      180 words
    • Article, Illustration
      Lock icon Consumer prices up 2% in Jan
      236 11  -  M U 11 in the economy CPI by' Teh Hooi Ling SINGAPORE'S Consumer Price Index (CPI) continued to rise in January, moving up 2 per cent year on year and 0.4 per cent from December, figures from Department of Statistics show. Incidentally, the December
      Source: Dept of Statistics  -  236 words
    • Article
      Lock icon Allow open market for retail petrol sale
      233 11  -  Ong Soon Teik Singapore via Internet THE oil companies are really exploiting their position as an oligopoly, and a solution has to be found rather than depend on the admonishments that Case directs at these profiteers. One solution is to allow for the
      233 words
    • Article
      Lock icon Keep gearing low except when there's a good deal
      197 11  -  Lim Jui Seek Singapore via Internet I REFER to your article "Debt vs investment pay now or pay later?" by Ben Fok (BT, Feb 21). Mr Fok has given a very balanced view on this question. As a practising financial consultant
      197 words
    • Article
      Lock icon Amex in tie-up with SA (UIC)
      190 11  -  ity] Liew Hanqing AMERICAN Express said yesterday it has appointed SA (UIC) Tours a leisure travel network partner, as part of its ambitious Asia-Pacific expansion plans. American Express, which is a specialist in corporate travel, will tap its new partner's expertise in leisure travel.
      190 words
    • Article
      Lock icon Can't just count on projected returns
      179 11  -  Mohamad Rosle Ahmad Singapore NOW that financial planning is the hottest thing since sliced bread, I hope banks, insurance companies and investment institutions will go the extra mile in giving customers a more complete picture of the projected returns of all their investment products.
      179 words
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      94 11 Since 1975 our worldwide staft of over 275 multi-disciplined professionals A f Ml including lawyers, chartered accountants. i W chartered secretaries and bankers have J k V provided confidential and cost effective M f company formation in all the major low m? •'vsSJp s ,ax areas including 4 Incorporation Fees
      94 words
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  • REGIONAL news
    • Article, Illustration
      Lock icon Indonesia risks economic collapse: World Bank
      761 12  -  Breakdown of IMF links conld rapidly erode market confidence, it warns From I Shoeb Kagda in Jakarta THE World Bank raised the prospect yesterday that Indonesia's fragile economy could collapse again if the current climate of political uncertainty and social unrest continues. This is
      AP  -  761 words
    • Article
      Lock icon Rupiah falls on firms' US$ buying to pay debts
      153 12 JAKARTA Bloomberg THE Indonesian rupiah fell for the third day this week after companies bought US dollars to pay overseas debts, traders said. Indonesia has accumulated some US$Bl billion (*****.1 billion) in corporate debt, mostly to overseas creditors. Companies need to
      Bloomberg  -  153 words
    • Article, Illustration
      Lock icon Solidarity with Iraq
      41 12 [KUALA LUMPUR] Students holding a banner that reads 'Fall and crumble Israel and USA' during a demonstration at the National Mosque in the Malaysian capital of Kuala Lumpur yesterday against US and British air attacks on Iraq. AP
      AP  -  41 words
    • Article
      Lock icon Thailand plans to cut income tax for listed firms from next year
      319 12 BANGKOK Bloomberg, Reuters THAILAND will probably cut the income tax rate for listed companies by as much as a sixth from early next year in order to attract more firms to the stock exchange, Finance Minister Somkid Jatusripitak
      Bloomberg,; Reuters  -  319 words
    • Article
      Lock icon Indonesia, Malaysia reach broad palm oil deal
      227 12 JAKARTA Reuters INDONESIA and Malaysia yesterday reached a broad deal on measures to lift sagging world palm oil prices, saying they would not compete with each other and would cooperate for better access in China and India. Indonesian Trade and Industry Minister Luhut
      Reuters  -  227 words
    • Article
      Lock icon B share suspension extended to Tuesday
      320 12 SHANGHAI Reuters TRADING in China's B shares will remain suspended through Tuesday to give securities houses and stock exchanges time to implement reforms allowing Chinese investors into the market, stock exchange sources said yesterday. "The China Securities Regulatory Commission allowed the exchanges to suspend
      Reuters  -  320 words
    • Article, Illustration
      Lock icon Tackling the future by resolving the past
      1194 12  -  5 -H m J3 c/ 5 c_ o c J3 z > f— Indonesia is setting an example that Malaysia should follow karim raslan Malaysians— and especially those in government tend to be unanimous in their criticism of Indonesia, disparaging the country's chaotic
      1,194 words
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  • MOTORING
    • BUMPER to BUMPER
      • Article
        Lock icon 5-year wait for BMW fuel cell
        97 13 AS REPORTED here first, BMW has come up with a solid-oxide fuel cell as an auxiliary power pack. Only thing is, it will only be made available to customers in five years' time. The fuel cell uses hydrogen in petrol to make electricity; and
        97 words
      • Article
        Lock icon Volvo invites future car design ideas
        73 13 HERE'S your chance to help design a car. Go to www.conceptlabvolvo.com and influence the future development of Volvo cars. There are three categories to choose from: the Volvo Safety Concept Car, the Volvo Adventure Concept Car and the Volvo Performance Concept Car. The website
        73 words
      • Article, Illustration
        Lock icon Peugeot 307 will take your breath away
        94 13 RIDING on the success of its gorgeous 206, Peugeot offers two of the most powerful consumer attractions in a new car—good looks and functionality. Indeed, the all-new 307 (above), arriving later this year, is a 4.2 m by 1.73 m hatchback that resembles
        94 words
      • Article
        Lock icon Porsche 911 GT2: top speed is 315kmh
        99 13  -  Compiled by Christopher Tan PORSCHE has unleashed the 911GT2, a rear-wheel-driven car that combines the raw sporting nature of the GT3 and the fantastic performance of the Turbo. The new car flies from O-lOOkmh in 4.9 seconds, and 0-200kmh in 12.9 seconds. Top
        99 words
    • Article, Illustration
      Lock icon Untitled
      1079 13  - Mercedes-Benz reinvents itself further with the Sports Coupe. andre lam puts the car through its paces in Nice, France ANDRE LAM The writer is a private practice dentist and veteran contributor to motoring publications specialising in tyres and high-performance cars THE C-CLASS Sports Coupe represents the second-last chapter of the
      1,079 words
    • MOTORING page
      • Article
        Lock icon Time for some tele-commuting
        1132 14 The car will be plugged into the World Wide Web sooner than you think. Here's a quick look at the brave new world of techno-wizardry in automobiles Reuters [NEW YORK] PICTURE this: You are driving down the highway, trading stocks, getting news and sports scores, e-mailing
        Reuters  -  1,132 words
      • Article
        Lock icon Did Tan Chong bid in best interest of customers?
        506 14  -  Chionh Chye Kit Singapore, via Internet I REFER to the results of the March COE bidding, announced on Feb 9, and would like to express my displeasure with Tan Chong Sons Motor, which acted on my behalf to bid for a
        506 words
      • Article
        Lock icon COE should be attached to the person and riot the vehicle
        606 14  -  K B Smith New Zealand, via Internet IN REPLY to the Land Transport Authority's letter by Han Liang Yuan (BT, Feb 17), I would first like to go on record as saying I see the certificate of entitlement (COE)
        606 words
      • Article
        Lock icon Mad over COE top-ups
        769 14  -  Dennis Lim Singapore, via Internet I REFER to the letter "Car pricing packages left to the market: LTA" (Wheel Matters, Feb 17). Reading through the two Land Transport Authority replies and from my personal discussions with LTA officials, LTA's standard response seems to be: 1) The
        769 words
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        Lock icon Inspect diesel vehicles more often
        111 14  -  Ong Yong Keat Singapore, via Internet I REFER to the letter "Why diesel emission is still a concern" by Ms Han Liang Yuan of the Land Transport Authority (LTA). If the level of maintenance accorded diesel-driven vehicles is a concern, the frequency of inspections could
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        Lock icon Car packages: dealers play a vital role
        145 14  -  Seetoh Kwok Meng Singapore via Internet I REFER to the letter "Car pricing packages left to the market: LTA" (Wheel Matters, Feb 17) and replies from Patrick Tan Choon Hong, Chan Weng Kong and Alfred Lim. Motor distributors play a vital role by
        145 words
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        Lock icon Diesel polluting? What about two-stroke bikes?
        155 14  -  Thomas Tay Singapore, via Internet I REFER to the recent discussions in Wheel Matters on diesel-driven cars. There are two significant sources of vehicular pollution which the authorities appear to have overlooked. One is from motorcycles with two-stroke engines. They are several times more
        155 words
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      103 14 i f VOU >r.• so:ii('tK-ircj the t>est letter to WHEEL I motor i(-kited to q>.-: ott MATTERS aoh morth j iswchwi.v.mewa Wheel ~n ~j n Suc 1V0 h We v. elcome 4 ee•;iback matters Pn/es 1 and s.ujcest u mis from sponsored hv tt-adei.s. 3 AMFuRD TYRFS.IT' <.* AUTOMORII T
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  • REGION world
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      Lock icon US president takes tough tone with China
      670 15 PRUbIDIMT HUSH'S FIRST MONTH He claims Beijing is helping Iraq bnild radar system used against US, British pilots NYT [WASHINGTON] President George Bush said on Thursday that evidence of China's aid to Iraq in building radar systems to use against US and British
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      Lock icon The sideshow's eclipsing the main event
      743 15  -  Republicans are annoyed that Clinton's scandals are distracting people from Bush's agenda, writes LEON HADAK LEON HADAR [WASHINGTON] THE popular NBC television comedy show, Saturday Night Live, featured last week its own comic version of a President Bush addressing the American people following its
      743 words
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      Lock icon Bush is his usual affable self in first White House press meet
      715 15 Deflecting potentially awkward questions with stock answers, he keeps to script Reuters, LatWP [WASHINGTON] US President George W Bush showed his trademark affable style on Thursday in his first formal White House news conference, taking a 30-minute trip
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      Lock icon Shenyin & Wanguo confirms it is under investigation
      448 15 Shenyin Wanguo confirms it is under investigation SHANGHAI It suspends staff as the price rigging probe widens Reuters THE chairman of Shenyin Wanguo, one of China's top brokerages, has confirmed it is being probed by regulators for alleged price rigging in a high-tech firm, Shenzhen China Venture Capital Co. Wang
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      Lock icon India survey: soaring fiscal deficit will slow growth
      551 15 NEW DELHI AFP INDIA'S annual economic review yesterday warned that a soaring fiscal deficit would need tough action in the year ahead to reverse disappointing economic growth of 6 per cent in the current year. The survey said economic growth dropped to
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  • WORLD news
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      Lock icon Buyers found for failed insurers Chiyoda, Taisho
      630 16 TOKYO AIG to inject 60b yen into Chiyoda; Yamato Mntnal Life, Softbank Finance to take over Taisho Reuters JAPAN'S debt-strapped insurance sector received a boost yesterday after two failed insurers found buyers, one getting snapped up by American International Group Inc (AIG) and
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      Lock icon Slowdown bigger threat to economy than inflation: Lindsey
      373 16 MILAN Reuters, AP THE greatest danger to the US economy comes from the possibility of a slowdown, White House economic adviser Lawrence Lindsey said on Thursday, adding a gain in consumer prices in January occurred for "technical reasons". In an interview with
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      Lock icon HSBC reshuffles global debt units in investment banking push
      496 16 LONDON Reshuffle aims to help the bank win more fees from advising clients around the world Bloomberg HSBC Holdings pic is uniting its debt units under one roof for the first time as it bolsters its investment banking business to compete
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      Lock icon Play it again, comrade
      37 16 [MOSCOW] A military musician practising on his flute before his orchestra started its performance at the museum of the Patriotic War yesterday, when Russia celebrated the 'Day of the Defender of Fatherland'. AFP
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      Lock icon Motorola warns of loss in first quarter
      322 16 NEW YORK Operating deficit will be its first quarterly one in more than 15 years Reuters WIRELESS communications gear maker Motorola Inc said yesterday a dramatic drop in its business could lead to its first quarterly operating loss in more than 15 years
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      Lock icon You'd be smiling too
      204 16 PITTSBURGH, Pennsylvania Bloomberg US Treasury Secretary Paul O'Neill, who retired in January as chairman of Alcoa Inc, received compensation of U5556.5 million (5598.3 million) last year from the world's largest aluminum maker. Mr O'Neill was paid U*****,400 in salary, U*****,303 in other compensation and a US$2.l9
      Bloomberg; AFP  -  204 words
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      Lock icon Firm that cloned Dolly 'reprogrammes' animal cell
      359 16 MLONDON Breakthrough could curtail controversial research on human embryos Reuters PPL Therapeutics, the firm that cloned Dolly the sheep, revealed yesterday it had succeeded in turning a cow's skin cell into a heart cell, in a breakthrough that could curtail controversial research on
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    • WORLD Watch
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        Lock icon Lloyds withdraws Abbey takeover bid
        69 16 AFP [LONDON] British banking giant Lloyds TSB put its takeover bid for Abbey National on ice yesterday after the government called in regulators to check into competition concerns. Lloyds said its offer for Abbey, which valued the home-loan specialist at almost £20 billion (5550.4 billion),
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        Lock icon Investment banking tops at Deutsche
        80 16 Reuters [FRANKFURT] Deutsche Bank AG, which is striving to rank among Wall Street's top names, said yesterday that its investment banking business contributed almost two-thirds to the bank's 2000 group pre-tax profit. In an internal memo obtained by Reuters, Deutsche said that on a proforma
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        Lock icon Nestle 2000 net profit rises 22%
        56 16 Reuters [VEVEY, Switzerland] The world's biggest food group Nestle SA yesterday reported a solid 22 per cent rise in profits to a record 5.76 billion Swiss francs (555.94 billion) but fell slightly short of analysts' expectations who had pencilled in a net profit of
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        Lock icon Two NZ ninisters under probe resign
        74 16 AP [WELLINGTON] New Zealand Prime Minister Helen Clark's Cabinet suffered another blow yesterday when two ministers were forced to resign amid allegations they falsely claimed lawmakers' living expenses. Environment Minister Marian Hobbs and Customs Minister Phillida Bunkle resigned because of an investigation into allegations
        AP  -  74 words
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  • FINANCE & commodities
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      Lock icon Futures close mixed ahead of weekend
      329 17  -  SGX Derivatives TraAin&Report ST Index/MSCI STporo Index Lau Chee Keong Refco Singapore THE Singapore stock market finished a touch higher yesterday as profit-taking activities trimmed its early gains while the 2001 Budget was being presented in Parliament. At the close, the benchmark Straits Times
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      Lock icon Nasdaq's new year-low hits futures
      258 17  -  MS& Taiwan Index Lau Chee Keong Refco Singapore THE Taiwan stock market fell for the third consecutive day yesterday after Nasdaq closed overnight at a new yearly low. Persistent weakness in the technology sector continued to weigh on the Nasdaq. At the close, the MSCI
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      Lock icon CURRENCY REPORT
      329 17 Reuters London THE yen rebounded after a short-lived selloff yesterday as credit rating agency Standard Poor's downgrade of Japan's sovereign debt was overshadowed by seasonal fund repatriation by Japanese investors. The euro was briefly hit as those Japanese firms sold the single currency for yen but it managed
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      1247 17 DITBBBAWK CROSS BATES C$ Rwb Emto Ffr Pw HK$ Ind 8s Bwpiaii Yw Won RM MZ$ Pafc Rs Peso S$ Band Sfr NTS Baht Pound US$ Australia 0.804 4333 0.576 1778 1.127 4.072 ***** 50.461 0.610 6.520 1.984 1215 ***** 25.160 0.911 4.067 0.883 16.904 22.521 0.361 0.522 Canada 1.244
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      1921 17 SICOM rurunES Feb 23 RUBBER (futures dosing as at 5.30pm) RSS1 CONTRACTS cwitsAq) Close Volume Opm Month Hlqh Low Sett (tonnes) Interest Mar 01 101.25 Apr 01 103.50 800 May 01 106.00 800 Jun 01 107.50 800 RSS 3 CONTRACT (US cents/kg) Volume OpM Month Hk)h Low Sett (tonnes) Interest
      1,921 words
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  • STOCKS east asia
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      Lock icon CyberWorks, Hutchison deal boosts Hang Seng Index
      2888 18 HONGKONG Bloomberg 11 Hang Seng +18L92 HONGKONG stocks rose yesterday as Pacific Century CyberWorks posted its biggest gain in two weeks after it said Hutchison Whampoa wiU pay HK54.375 per share for a 0.8 per cent stake in the company. "It's positive as
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      Lock icon CHINA
      513 18 Reuters n Shenzhen A Index +BJI CHINA'S A shares closed higher yesterday in thin trading, as some investors bought on hopes that domestic counters would get a lift when B shares reopen after reforms to allow locals to trade in the hard currency market. B shares are expected to
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      Lock icon TAIPEI
      367 18 AFP .jWPlnto -32J1 TAIWAN share prices closed 0.6 per cent lower yesterday amid weak sentiment following further losses on the Nasdaq, dealers said. The Taiwan Stock Exchange Weighted Price Index shed 32.11 points to 5,726.93, on turnover of NT$BO.6B billion. Risers led decliners 293 to 209, with 78 issues
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      Lock icon High-tech stocks, banks lift Nikkei
      2070 18 TOKYO AFP Nikkei 225 +***** TOKYO share prices rallied 1.3 per cent yesterday from a 28-month low as investors bought high-tech and banking issues despite a fall in the US Nasdaq composite overnight, brokers said. Information-technology (IT) issues rebounded on bargain-hunting while financials benefited from
      AFP  -  2,070 words
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  • STOCKS klse
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      Lock icon KL edges down in rangebound trade
      428 19 AFP CI Composite Index -0.72 MALAYSIAN shares closed fractionally lower in rangebound trading yesterday after another day of low volume transactions, dealers said. The Kuala Lumpur Stock Exchange Composite Index ended down 0.72 points or 0.1 per cent at 712.76. The Second Board index
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      9127 19 INDUSTRIALS Consumer products 2001 Last Vol Day Nat Cap High Low Company Sal« 'OOP High Low P/E Smll 340 300 A|inomoto 312 9 4 126 5 45 30 Angkasa 36 -0.5 1 36 36 53.1 342 286 Apollo rood Hlg 330 unch 1 330 330 7.2 132.0 356 308 Asia
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  • SGX clob & regional stocks
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      2701 20 BONDS WARRANTS m23 rnmj li|ky -r u, ar-.- >rjsa r w r 24 2.5 I *nTAhW010a07.Z.'. 'I'Z I'-ZL. ..73 05 3 5 3 1 loo 610 5 4 83 6 30 13 e I r::r^ 5^- n *2 '1 22 2 3™ 22 2.07 46 3.5 m s AsiaFoodP W*****2
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      Lock icon SEOUL
      314 20 AFP rl Composite Index +OJI SOUTH Korean shares closed almost flat yesterday with the index up 0.11 at 583.52. Volume was 396 million shares worth 2.1 trillion won. AFP Ft* 23 Won Anam Semi 4480 80 Brim Tech 755 45 Central Bank 170 unch Cheil Comm *****0 -500 Dae
      AFP  -  314 words
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      Lock icon MANILA
      286 20 AFP Composite Index +545 PHILIPPINE shares closed 0.3 per cent higher yesterday with the Philippine Stock Exchange Composite Index adding 5.95 points to 1,647.00. Volume rose to 1.9 billion shares worth 592 million pesos from Thursday's 1.1 billion shares worth 485 million pesos. AFP Frt23 (000) Abacus Construction 0.57
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      Lock icon WELLINGTON
      259 20 AFP QNZSE-40 +2340 NEW Zealand stocks rose 1.2 per cent yesterday following late interest in Telecom Corp and Fletcher Challenge Energy shares, dealers said. The NZSE-40 Capital Index closed up 23.90 points at 1,982.03 points on turnover of NZ$l3B million.— AFP wa ms cooo) Aflvantaq* HDS 1.55 -0.01 171
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      Lock icon SYDNEY
      544 20 AFP HAD Ordinaries +L 1 AUSTRALIAN shares closed virtually unchanged yesterday with falls in News Corp offset by gains in the banking and resources sectors, brokers said. The All Ordinaries index edged 1.1 points higher to close at 3,241.4, while the SP/ASX 200 fell 0.6 points to 3,292. National
      AFP  -  544 words
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      Lock icon BANGKOK
      742 20 AFP jQj SET Index +1522 THE Thai stock market surged 4.9 per cent yesterday in heavy buying of bank and finance stocks, analysts said. The Stock Exchange of Thailand (SET) Composite Index soared 15.22 points to close at 324.24 points, and the SET 50 index was up 1.24 points
      AFP  -  742 words
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      Lock icon JAKARTA
      735 20 AFP PI Composite Index +UB INDONESIAN share prices closed marginally higher yesterday on a technical rebound in major stocks but ethnic clashes in Kalimantan put pressure on market sentiment, dealers said. The Jakarta Stock Exchange Composite Index closed up 1.62 points or 0.4 per cent at 438.65. Volume was
      AFP  -  735 words
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  • Article
    Lock icon STOCKS sgx
    9970 21 SGZMADTBOARD Transaction date: Feb 23 52-Wk Last Vol Day Last Quota Dto Dtv YM Nat Cap Avo High Low Company Sale COQQ) High Low Buyar Sailor H C'vr P/t Smll Price MULTI-INDUSTRY 153 51 m c Acma50c 56.5 *0.5 222 56.5 55.5 56 56.5 5 4.3 4.4 7.1
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      247 22 I NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298 1 IrUn^natte^r™""""""" THE COMPANIES ACT, CAP. 50 And In the matter of YEE HENG RUSTIC INDUSTRIES PTE LTD (In Members' Voluntary Liquidation) NOTta Of FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies
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      478 22 CHEE YAM CHUAN TEMPLE TRUST NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Members of Chee Yam Chuan Temple Trust will be held at Hibiscus 1 2, Century Mahkota Hotel, Jalan Merdeka, ***** Melaka, on Saturday, 10 March 2001 at 4JO p.m. for the following purpose SPECIAL
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  • Page 22 Miscellaneous
    • Miscellaneous
      Lock icon Page 22 Miscellaneous Column 1
      697 22 filari al iff. Better Or Worse (See 7.00 The Jade Route. IL3O 48hrs. _I Our Choice). 8.00 Berita. 12.30 AM Star's Time Out. 8.00 AM Kids Central: The 8.00 Suddenly Susan. 830 Papa (M/Drama). LOO Headlines. 830 Casper S o>3o News 5 Tonight. 9.30 Langit Petang. LO2 Medical Break--9.00 Hip-0
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    • Miscellaneous
      Lock icon Page 22 Miscellaneous Column 2
      321 22 CRYPTIC CROSSWORD ACROSS 4 Irritable fellow one found in the 1 Die whilst fighting to conform stable (9) (4,2,4) 5 Invalid going over a ravine (5) 6 Nothing in order, btow it! (4) 7 Making a loan go from one side 10 Try to get 500 behind bars (5) to
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  • New Asia Biz Woman
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      Lock icon Dancing feat
      1178 23  -  If you can move, you can dance. This is what British choreographer Liv Lorent believes and she will be in S'pore to prove it in a project spearheaded by SDT. She tells CHEAH UI-BOON how non-dancers can also take to the stage CHEAH UI-HOON AS art is about
      PHOTOS BY RICHARD CHNG  -  1,178 words
  • Article
    Lock icon Untitled
    586 23  - Compiled by Aaron Lye MUSIC Late Thoughts Hailed by Time magazine as "the greatest Chinese musician alive today", pianist Fou Ts'ong will be performing the later works of three composers who died young. These include Mozart's Rondo in A minor, K5ll, Schubert's Sonata in A minor, D 845, and the
    586 words
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    Lock icon SPOTLIGHT
    221 23  -  By I Aaron Lye The buzz: Fusion of Dance Drums, a fund-raising concert in aid of the Ramakrishna Mission Building Fund for a new $1.6 million education and counselling centre. Plot and players: With President S R Nathan as the guest of honour, Fusion of Dance Drums will feature
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  • The Arts
    • Article
      Lock icon Why it's vital to promote literary arts
      569 24  -  It enriches our sense of identity, and connects us to others By Geoffrey Eu IT may not have reached crisis proportions as such, but the recent, renewed search for a well-defined sense of national identity has been the source of collective handwringing over
      569 words
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      Lock icon Discreetly professional
      764 24  -  Taiwan-based Ravanel wants to be a consultant to private collectors in Singapore, reports GEOFFREY EU GEOFFREY EU TWO evenings ago, like something out of a surreal dream sequence, art lovers in Singapore had the rare opportunity to examine at close quarters an exquisite work by the modern Italian
      764 words
    • Article
      Lock icon Fou Ts'ong to interpret 'late thoughts'
      412 24  -  By John Gee ACCLAIMED for his interpretations of Chopin and hailed by Time magazine as "the greatest Chinese musician alive today", Fou Ts'ong is one of the world's most highly regarded musicians. He is coming to perform in Singapore on February 28 in a
      412 words
    • Article, Illustration
      Lock icon The case against early retirement
      569 24  -  The geriatrics of Bnena Vista Social Clnb pat up a galvanizing show By Geoffrey Eu FOR close to three memorable hours last Sunday night, an enthralled and thoroughly enlightened audience at the Harbour Pavilion was magically transported to another time, another place by a merry
      569 words
    • Article, Illustration
      Lock icon Basics of art collecting
      619 25  -  A liking for art is not enough to sustain a collector. Money is the other key factor, Indonesian collector Dr Oei Hong Djien tells PARVATHK HAYAR PARVATHI NAYAR t's not enough to like art, you also need funds to be a IH Wm collector," laughs Indonesian
      619 words
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      Lock icon Mutual admiration
      437 25 DR Oei was in town to be guest-of-hon-our at a new show of the celebrated Indonesian artist titled Haji Widayat: Fingerprint of an artist. Since their meeting some 15 years ago, the two men have become good friends; they view art shows together and enjoy discussions of the
      RICHARD CHNG  -  437 words
    • Article, Illustration
      Lock icon A special sense of space
      919 25  -  Full-time academic and part-time photographer Jaroslav Poncar plays a keen role in conservation of Cambodia's monument besides bagging a Guinness record for his panoramic pictures of Angkor Waf s bas-relief walls. SXEW TAW HOONG takes a look SIEW YAW HOONG WHEN Jaroslav Poncar first saw
      PHOTO BY SIEW YAW HOONG  -  919 words
    • Article, Illustration
      Lock icon Celebrating theatre
      1227 26  -  The Life! Theatre Awards has dual goals in raising public awareness and recognising the talents and efforts of those in theatre, parvathi mayae finds out more PARVATHI HAYAR TWO days from now the wait will be over, and winners of the inaugural Life! Theatre Awards will go home
      1,227 words
    • Art beat
      • Article, Illustration
        Lock icon Reviews
        423 26  -  Reviews by P&rvathi Nayar The Other Last week saw a celebration of text in theatre at the Substation, using the format of the monologue. This triple bill of three original Malaysian plays was directed by acclaimed Malaysian director Krishen Jit. The first piece, The Smell of Language, written and
        423 words
      • Article
        Lock icon News
        346 26  -  News compiled by Cheah Ui-Hoon, Aaron Lye NACSPH Golden Point Award It's back once again, albeit with a new name (it used to be the SPH-NAC Short Story Writing Competition) and in a slightly different form. Write creatively in short stories and poems, in English, Chinese, Malay or Tamil,
        346 words
    • Article
      Lock icon Theatre from England at Fort Canning
      579 26  -  By Aaron Lye PICTURE this: a specially arranged site-specific performance at Fort Canning Gate based on an ancient Northeastern English folk tale. Sounds like something straight out of the Singapore Arts Festival? Guess again. Based on the legend of the Lambton Worm, a mythical
      579 words
    • Article, Illustration
      Lock icon New directions
      2040 27  -  What's happening next on S'pore theatre circuit after a decade of progression and a year of bold experimentation in 2000? Step right up for a peek as AARON LYE and CHEAH UI-HOON talk to the people behind the scenes AARON LYE, CHEAH UI-HOON LET it not be said
      2,040 words
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      139 26 Question 1: The Ch ipolakis will be pulling up a special performance at some Hong Leong Finance and Singapore Finance branches. Name two of these branches. I Answer j. J You can also log ito www.wpidoBuii.toni.iy find the answers. Question 2: Name one of the schools lakingpartin the performance. Answer
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