The Business Times, 14 April 2001

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Total Pages: 18
1 18 The Business Times
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  • Title Section
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    17 1 THE BUSINESS TIMES MITA (P) 107/03/2001 SIN GAPORE fllk Internet: http://business-times.asial.com.sg/ SATURDAY, APRIL 14, 2001 850 f
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  • Article
    Lock icon MARKET SUMMARY
    56 1 STOCK MARKET INDICES Friday Change KLSE COMP ***** +14.90 NIKKEI 225 13,385.72 +3318 HANG SENG dosed SET INDEX dosed JAKARTA COMP _dosed MANILA COMP dosed TAIPEI WPI 5,495.49 -37.75 SEOUL COMP 516.10 +1.89 CLSA CHINA B unavailable ATJST ALL ORD doaed BOMBAY INDEX __.doaed Noon EST Change DOW
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  • Article
    Lock icon FINANCE
    81 1 FOREX RATES us$ s$ US$ (SS per IJS$) 1.805 £(US$/S$ per 1.435 1589 EURO(US$/S$/E) 0.886 1.600 DM 1207 1123 YEN 123.3 68.30 RM 3.800 2.106 HK$ 7.799 4.322 BAHT 45.36 25.13 RIJP1AH 10,650 5^02 •s$ to too units PRIME BATES SINGAPORE* 5.80 KUALA LUMPUR 7.67 JAKARTA .39.00 BANGKOK A
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  • Article
    Lock icon Proportion of penny stocks on SGX hits 64%
    743 1  -  And one in three counters goes for 20 cents or less Byl Andrea Tan [SINGAPORE] Those with a penchant for penny stocks have plenty to choose from these days about 310 companies, or 64 per cent of the stocks listed on the
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  • Article
    Lock icon Tokyo warns of deflationary spiral
    840 1  -  Latest government report adds gloom to economy's prospects From I Anthony Rowley in Tokyo FOLLOWING publication yesterday of an unusually gloomy official assessment of Japan's short-term economic prospects, a government minister acknowledged that the possibility of the economy falling into a deflationary spiral "cannot be
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  • Article, Illustration
    Lock icon Small listed companies are big on transparency
    1301 1  -  By' Ven Sreenivasan [SINGAPORE] Although Singapore conglomerates and blue-chip corporations still lead the field in corporate governance and disclosure rankings, it is the mid-caps and smaller companies which are showing the biggest improvements. Posting some of the most impressive improvements on the Business
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      84 1 IHSUIK Top Stories Taiwan's UMC to decide on second wafer foundry in S'pore. Next Page US business sales down 0.3% in Feb. Next Page Local listed firmms showing the way in foreign acquisitions. Pg 3 EDB considering 2nd tranche for Technopreneurship Investment Fund. Pg4 Thaksin corruption probe into his finances.
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      17 1 f vpj THE ARTS ffl V Vv* The baddest Porsche MOTORING Hashimoto set for comeback, Pg 11
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      78 1 hardens litandfon IfF® 1 Raffles ToMm Club What readers say X. Breguet. La passion laisse des traces. Wristwatch "Grande Complication" in 18-carat yellow gold with tourbillon regulator at 12 o'clock Hand-wound column-wheel chronograph movement. 30-min'ute and 12-hour totalizers. f-J^yTaf/j/^vy/ /J //O Compensating balance with Breguet overcoil. Silvered gold dial, hand-engraved
      78 words
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      7 1 Aoqniaitioiia: Singapore shows the way, Pg 3
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  • NEXT page
    • Article
      Lock icon UMC mulls over building of 2nd S'pore wafer foundry
      797 2  -  l-f I exclusive It is a toss-up between Tainan in Taiwan and S'pore, says chairman JohnHsuan By] David Boey [SINGAPORE] Taiwan's United Microelectronics Corporation (UMC) the world's second biggest maker of made-to-order computer chips is pondering whether to build a second
      797 words
    • Article
      Lock icon S'pore investors worried over Batam's autonomy
      130 2 Oana-Antara [BATAM] Singapore investors are worried over implementation of regional autonomy in Batam, Indonesia's ambassador to Singapore Johan Syahferi Saleh said here on Thursday. "They are very worried that regional autonomy will pose difficulties to them to invest in Batam," he said. He said
      Oana-Antara  -  130 words
    • Article
      Lock icon US sales decline in Feb outpaces inventory fall
      529 2 The data suggests sluggish output in the months ahead Bloomberg SALES at US businesses dropped in February, outpacing a decline in inventories and suggesting sluggish production in the months ahead, a government report showed. Sales fell 0.3 per cent, led by declines
      Bloomberg  -  529 words
    • Article
      Lock icon Tony Tan to stand for next election
      226 2  -  FromJ Jennifer Lien in Silicon Valley DEPUTY Prime Minister Tony Tan says he will stand at the next general election, putting to rest speculation be may retire soon. Asked at a news briefing on Thursday about his electoral plans, Dr Tan said: "The
      226 words
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  • SINGAPORE companies
    • Article, Illustration
      Lock icon Local listed firms 'showing the way' in foreign acquisitions
      592 3  -  l»ll interview Singapore companies are focusing on their core business in their foreign deals: JP Morgan man By I Siow Li Sen SINGAPORE companies, with their good corporate governance and transparency, are setting an example for Asia in their foreign acquisitions,
      ARTHUR LEE  -  592 words
    • Article
      Lock icon BT SHARE information service
      4928 3 Met urn CM MadMtad 16-Mar P 1.694 1.603 1.05 LIT Data TY LY TV LY MadtacsUSS 28-Mar P 2.147 3.617 0.73 US Cm—Wf ann «D flgrt IcU) lets) Mtfttn 27-Fab P 6.133 2.163 7.1 2.5 Matro 24-Nov I 6.887 1748 131 1.0V ABRHIdqs 31-Mar P 6.565
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    • Article
      Lock icon Ex-Swire executive to head CyberPort project
      211 3 He will replace top official who resigned last week: report Bloomberg [HONGKONG] Pacific Century CyberWorks, a subsidiary of Singapore-listed Pacific Century Regional Developments, has hired former Swire Pacific Ltd executive Michael Moir to head its CyberPort project, the South China Morning Post reported yesterday.
      Bloomberg  -  211 words
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  • SINGAPORE news
    • Article
      Lock icon NODX seen falling by second quarter
      361 4 ■nsi=Ton the economy exports SINGAPORE'S non-oil domestic exports (NODX), in line with the trends in north Asia, are expected to start falling soon and certainly by early in the second-quarter, says Forecast Pte Ltd. So far, the north Asian economies appear to be suffering
      361 words
    • Article
      Lock icon More funds for venture capitalists?
      556 4  -  EDB mulls 2nd tranche for Technopreneurship Investment Fund: Dr Tan Reports from Jennifer Lien, Silicon Valley THE Economic Development Board is considering a second tranche for the Technopreneurship Investment Fund (TIF), says Deputy Prime Minister Tony Tan. "EDB is looking into whether we need a
      556 words
    • Article
      Lock icon Lessons from California varsities
      567 4 S'pore's 4th U should net duplicate existing institutions: Dr Tan A SYSTEM of different universities meeting the economy's different needs this is a lesson Singapore can draw from California's higher education system, Deputy Prime Minister Tony Tan said on Thursday. Speaking to Singapore reporters at the
      567 words
    • Article
      Lock icon Dr Tan pays tribute to Barker
      130 4 DEPUTY Prime Minister Tony Tan paid tribute yesterday to former cabinet minister EW Barker, saying his death is a deep loss for Singapore. Dr Tan, who had served with Mr Barker in the Cabinet, noted that he was one of the founders of modern
      130 words
    • Article
      Lock icon So many questions that are still begging answers
      239 4  -  Wong Kok Choon Singapore, via Internet I THINK it will be appropriate to change the name of RTC to "Raffles Clown Club". The reason: 19,000 clowns (myself included) rushed in to join the club on the promise that this would be an
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    • OTHERS Views
      • Article
        Lock icon Early birds?
        53 4  -  Elaine Kang THE crux of the matter is: the promotional leaflet stated that only the initial members are privileged to enjoy memberships at $28,000 and on condition they subscribed by a certain date. Subsequent members would pay more. All of us have been duped into thinking we are
        53 words
      • Article
        Lock icon Exclusive queues
        58 4  -  Joshua Tch Quek Hua THERE will be no qualms if one queues at bus stops, or at eating places where one pays public rates. But a different kind of expectation is legitimate if one has to pay a $28,000 joining fee! What more with the promise this would
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      • Article
        Lock icon Transfer fee
        76 4  -  Sam Chong I CAN accept that market conditions may have prevented the subsequent launch of membership at $48,000 or $80,000.1 can also accept that the club's market price has fallen. But what I can't accept is why the transfer fee is pegged so high—at 10 per cent of
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      • Article
        Lock icon Money back
        33 4  -  Daniel Tan I THINK the Club should in good faith let the members decide whether they would like to continue as members or resign and get their money back. Daniel Tan
        33 words
      • Article
        Lock icon Why stop at 19,000?
        62 4  -  Philip Tan A CLUB with 19,000 members can hardly be called exclusive! Why stop at 19,000? While there are strict rules for companies raising funds through an IPO in the stock market, so-called proprietary clubs are not bound by any similar rules. Members also have no
        62 words
      • Article
        Lock icon DBS Card's letter
        60 4  -  Sim Khim Huang THE membership invitation letter issued by DBS Card Centre in November 1996 did not state 5,000 founding members specifically, but it did state that "a limited number of exclusive individual transferable founder memberships at $28,000" were available on a flrst-come-first-serve basis. By any stretch,
        60 words
      • Article
        Lock icon Had faith In UOB
        62 4  -  Han Hee Kuang I AM a member of RTC, courtesy of being a UOB credit card holder. I had faith in UOB in its flyer about the exclusiveness of RTC. But this faith was misplaced. Have these card-issuing companies misled us, or have they themselves been
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      • Article
        Lock icon Underhanded tactics
        53 4  -  Joshua Tch Quek Hua MOST members know that any investment has its risks. But the misleading promotional launch tactics used by the management to attract members is the crux of the issue. Such underhanded tactics must be stopped lest other businessmen use the same trick in future. Joahna
        53 words
      • Article
        Lock icon Citibank card too
        51 4  -  Samantha Seow YOU have mentioned both UOB and DBS Visa cards in the co-launch. I accepted the offer via my Citibank Visa card. Honestly, I was misled by the "assurance" that the club will ensure value of membership by selling at higher prices at subsequent phases. Baiaantha
        51 words
    • Article
      Lock icon Clubs must be made accountable
      517 4  -  MAILI.MiB Chong Yean Yin JacquelineFionna Singapore, via Internet THE Raffles Town Club is not a charity nor is it a part of the government. The RTC shareholders (as opposed to members) are business people and are in it for the money, pure and simple. No
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    • Article
      Lock icon Ask members why they bought
      231 4  -  Narayana Narayana Singapore, via Internet I refer to your article "No mention of 5,000 members in RTC launch brochures" by Liew Hanqing (BT, April 6). I do not know how many more readers are as fed-up as I am over the extensive coverage of the
      231 words
    • Article
      Lock icon S'poreans, change your mindset, be independent
      120 4  -  Vincent Tan Chee Kian Singapore, via Internet I REFER to the letters and reports on the Raffles Town Club saga. I am just wondering when Singaporeans would grow up and be more independent. Our mindset really needs to change for Singapore to stand on
      120 words
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      Lock icon Page 4 Advertisements Column 1
      244 4 National University I of Singapore I FmMinS Human Resource Management Unit Full-Time Teaching Appointments The National University of Singapore (NUS) invites applications for full-time faculty positions in the Human Resource Management (HRM) Unit. Started in 1983, the HRM Unit equips all graduating students with people management knowledge, skills and a
      244 words
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      Lock icon Page 4 Advertisements Column 2
      20 4 IST Ism received a barrage of letter* jUM Tjmum n m m nri-lpk publish here a sampling off the letters.
      20 words
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  • MOTORING
    • Article, Illustration
      Lock icon This car ROCKS!
      1340 5  -  And a bit too much, too, says CHRISTOPHER TAN, who is more shaken than stirred by Porsche's flagship 911 Turbo CHRISTOPHER TAN, PORSCHE'S 911 Turbo is seldom at rest. And even when it is, its muscle-bound form—made more aggressive by three large air scoops up front, side
      PORSCHE AG  -  1,340 words
    • Article
      Lock icon Stop misuse of commercial vehicles
      207 5  -  Mah Yew Fai Singapore, via Internet WITH the government's recent move to increase the speed limit for commercial vehicles to 60kmh from April 16, as well as removing the mandatory orange blinking light, I believe more people will buy vehicles such as the Citroen Berlingo
      207 words
    • Article
      Lock icon Make petrol kiosks post prices
      166 5  -  Andrew Tan Singapore, via Internet I REFER to the letter "One way to make petrol firms listen" (Wheel Matters, March 31). One of the ways to bring down petrol prices in Singapore, I believe, is to promote competition within the industry. Currently, the consumer petrol
      166 words
    • Article
      Lock icon Let S'pore cars have bull-bars
      130 5  -  Ismail Atan Singapore via Internet I REFER to the letter "LTA on why no ban on foreign bullbar cars" (Wheel Matters, March 24). The Land Transport Authority said in its correspondence that foreign cars with bull-bars are not barred from entering Singapore because the feature
      130 words
    • BUMPER to bumper
      • Article
        Lock icon N American light vehicle output set to fall
        89 5 LIGHT vehicle output in North America is still expected to drop sharply in 2001, according to industry strategist autopolis. While the decline in sales in the first quarter was less than some had expected, that is no reason for optimism. Graeme Maxton,
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      • Article, Illustration
        Lock icon Car designer' Big Daddy' Roth dies
        158 5  -  Compiled by Christopher Tan ED "Big Daddy" Roth, the sign painter turned car designer, has died. He was 69, reported AP. His outrageous automotive creations and grungy cartoon alter ego Rat Fink made him an outlaw icon of Southern California pop culture of the
        AP  -  158 words
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      Lock icon Page 5 Advertisements Column 1
      86 5 If you have something S1 00 worth of motor-related to get off vouchers Prizes are your chest, write to us. f sponsored by We welcome feedback a STAMFORD TYRES, and suggestions from I* f h Singapore s only readers. listed tyre and auto The AUTOMOBILE services group. ASSOCIATION OF You
      86 words
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  • BIO sciences
    • Article, Illustration
      Lock icon A healthy man's healthy business
      1106 6  -  Singapore will provide Quintiles a springboard into the rest of Asia, which is logically the company's next target market, says chairman Dennis Gillings Byi Chuang Peck Ming HIS eyes alert and his skin glowing in the tropical heat, the cool lobby of The Fullerton notwithstanding,
      RICHARD CHNG  -  1,106 words
    • Article, Illustration
      Lock icon Pharmaceutical giant may expand in Singapore
      784 6  -  GlaxoSmithKline studies possibility of adding new manufacturing and research activities in Singapore By Eugene Low GLAXOSMITHKLINE the pharmaceutical giant that is the outcome of the recent merger between Glaxo Wellcome and SmithKline Beecham is looking into the possibility of adding new manufacturing and research
      FILE PHOTO  -  784 words
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  • REGIONAL news
    • Article
      Lock icon M'sia opposition to go ahead with today's protest
      372 7 KUALA LUMPUR Azizah to submit memo on rights abuses to Suhakam AFP, AP MALAYSIAN opposition groups said yesterday they would go ahead with today's gathering in support of jailed former deputy premier Anwar Ibrahim despite a police ban and fears of violence.
      AFP,; AP  -  372 words
    • Article
      Lock icon Exxon reports major oil find in Indonesia
      150 7 IRVING, Texas AFP, Reuters EXXON Mobil Corporation on Thursday said its Indonesian affiliate had made a major oil discovery that could contain more than 250 million barrels of recoverable oil. The company said Mobil Cepu Limited, sifter completing work on the Banyu Urip
      AFP,; Reuters  -  150 words
    • Article
      Lock icon EPF defends its investments in GLCs
      298 7 KUALA LUMPUR AFP MALAYSIA'S state retirement fund has defended its investments in governmentlinked companies (GLCs) amid criticism by opposition parties and workers' unions. The Employees Provident Fund (EPF), which manages RMIBO billion (SsBs billion), is a "prudent and very wellmanaged" organisation, its chairman Abdul
      AFP  -  298 words
    • Article
      Lock icon Bintulu set to make strong KLSE debut
      348 7 KUALALUMPUR Bloomberg BINTULU Port Holdings Bhd. may become the first Malaysian company this year to rise above its initial share price when it begins trading on the Kuala Lumpur Stock Exchange (KLSE) on Monday, analysts said. Analysts bet Malaysia's second largest port operator
      Bloomberg  -  348 words
    • Article
      Lock icon Thaksin faces 2nd corruption probe into his finances
      481 7 BANGKOK Probe is over 7.2b baht loan he and wife gave to relatives AP PRIME Minister Thaksin Shinawatra faces a second corruption probe into his financial affairs, adding to his mounting legal woes that could see him out of office, local news
      AP  -  481 words
    • Article, Illustration
      Lock icon Thailand's PM goes on treasure hunt
      253 7 BANGKOK Reuters THAI Prime Minister Thaksin Shinawatra set off for a remote cave yesterday to investigate reports that a vast hoard of treasure left behind by the Japanese at the end of World War II had been found hidden there. Controversial senator Chaowarin Latthasaksiri,
      Reuters; AFP  -  253 words
    • Article, Illustration
      Lock icon Changing face of tourism in M'sia
      1122 7  -  WRITER'S JOURNAL Easing of travel curbs on Indian and Chinese nationals signals a radical turnabout karim raslan TOURISM is often under-rated and ignored as an industry. Admittedly, it has never been easy to take cultural dances, wood-carvings and Japanese visitors in garish golf wear
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    • NOTE Book
      • Article
        Lock icon Philippine military copter crashes
        51 7 Reuters [BAGUIO, Philippines] A Philippine military helicopter with seven presidential security guards and four crew on board crashed yesterday in a mountainous area near the northern city ofßaguio, officials said. President Gloria Macapagal Arroyo had earlier arrived in Baguio, 200 km north of Manila, on Thursday.
        Reuters  -  51 words
      • Article
        Lock icon Viet Air flights to US
        64 7 Reuters [HANOI] Vietnam Airlines and Taiwan's China Airlines will start code-share flights to the US from May 1, an official from Vietnam Airlines Planning Department said yesterday. He said the two carriers received permission from the US Department of Transport in March for 20 round-trip
        Reuters  -  64 words
      • Article
        Lock icon Titan Petro seeks KL debt agency help
        70 7 Reuters [KUALA LUMPUR] Malaysia's national debt restructuring agency yesterday said it was reviewing a request for help from Taiwanese-controlled Titan Petrochemicals Polymers to revamp its US$B4O million (Ssl.s billion) debt. The Corporate Debt Restructuring Committee chairman said the privately-held firm asked for assistance
        Reuters  -  70 words
      • Article
        Lock icon Petronas to sell LNG to Japan's Tohoku
        69 7 Bloomberg [KUALA LUMPUR] Petroliam Nasional Bhd of Malaysia said it will sign an agreement on Monday to sell liquefied natural gas to Tohoku Electric Power Co, making up for the supply the Japanese company lost with the closure of Exxon Mobil Corp's gasfield
        Bloomberg  -  69 words
      • Article
        Lock icon Bangkok trims growth forecast
        62 7 Xinhua [BANGKOK] The Thai government has again cut down this year's economic growth forecast to 3-3.5 per cent from a previous level of 3.5-4 per cent, the Bangkok Post reported yesterday. Last month, the National Economic and Social Development Board, a government think-tank, had trimmed the
        Xinhua  -  62 words
      • Article
        Lock icon Vietnam to issue 5-yr bonds
        60 7 Reuters [HANOI] Vietnam's Finance Ministry has decided to issue five-year Treasury bonds from next week to create more trading instruments for the country's fledgling stock market, Hanoi Moi daily reported yesterday. It said the dong-denominated bonds would be sold at state Treasury counters between Monday
        Reuters  -  60 words
    • Article, Illustration
      Lock icon China gives 45m civil servants pay rise
      577 8 BEIJING The announcement sparks anger among Chinese in Internet chatrooms Reuters CHINA'S Cabinet has given a pay raise to 45 million civil servants, bringing the estimated salary of President Jiang Zemin to more than 27,000 yuan (555,854) a year excluding a one-month bonus.
      Reuters; REUTERS  -  577 words
    • Article
      Lock icon London court releases papers detailing Benazir Bhutto's assets
      280 8 Pakistani #>vt can now extend OAMWI Wfl AW WHAUA vvl 1 UpvlUll JJI vUC Reuters [LONDON] A London court has released 22,000 pages of documents detailing bank accounts and assets of former Pakistani Prime Minister Benazir Bhutto, a British newspaper said yesterday.
      Reuters  -  280 words
    • Article
      Lock icon State Bank of India to take 23b rupee charge on cuts
      176 8 Bloomberg STATE Bank of India, the country's biggest commercial bank, said it will have to take a charge of more than 23 billion rupees (SsBBs million) on a plan to cut surplus staff. The state-owned lender may spread out
      Bloomberg  -  176 words
    • Article
      Lock icon Taiwan electronics firms set to benefit from outsourcing orders
      504 8 TAIPEI But the benefits are unlikely to be significant in terms of revenue or profits analysts AFX-Asia SOME Taiwan electronics contract manufacturers may benefit from further outsourcing orders as their US customers announce profit warnings and plans to scale down production
      AFX-Asia  -  504 words
    • Article, Illustration
      Lock icon Chinese firms to report earnings quarterly from next year
      413 8 Loss-making firms must file quarterly results from Q3 2001 Reuters, Bloomberg [SHANGHAI] Chinese regulators will require all listed firms to disclose quarterly results starting from the first quarter of 2002, but moneylosing firms must begin in the third quarter of this
      Reuters,; Bloomberg; FILE PHOTO  -  413 words
    • Article
      Lock icon India's central bank rules out rate cut
      498 8 NEW DELHI CUL too won't be cat in new policy coming next week: RBI chid Reuters, Xinhua AMIDST the current volatility in the rupee and stock markets, Reserve Bank of India (RBI) governor Bimal Jalan on Thursday ruled out any immediate cut in
      Reuters,; Xinhua  -  498 words
    • ASIA Notes
      • Article
        Lock icon Chinese firms await nod to start banks
        97 8 AFX-Asia [SHANGHAI! Chinese companies are awaiting central government approval to establish a total of five non-state banks, the Guangdong-Hongkong Information Daily reported. Hie five planned banks include the Zhejiang-based Tailong Bank, In a project initiated by Zhej iang Tailong Urban Credit Cooperative, Shenyang-based
        AFX-Asia  -  97 words
      • Article
        Lock icon Quake hits Yunnan province
        63 8 AFP [BEIJING] One person was killed and at least 150 were injured in an earthquake measuring 5.9 on the Richter Scale which shook the south-western Chinese province of Yunnan, officials said yesterday. The quake struck at 6.46pm on Thursday in the Shidian region around 150 kilometres
        AFP  -  63 words
      • Article
        Lock icon India's Dr Roddy Labs lists on NYSE
        86 8 Xinhua [NEW DELHI] India's Dr Reddy Laboratories has become the first Asia-Pacific pharmaceutical company to be listed on the New York Stock Exchange and the third largest pharmaceutical company in India by market value. According to the Press Trust of India, the company
        Xinhua  -  86 words
      • Article
        Lock icon Indian panel proposes new Enron pact
        82 8 Bloomberg Idumdayj Manarasntra state and uie local unit of Enron Corp should renegotiate their agreement to resolve a dispute over unpaid bills, a three-member panel said. The panel said Dabhol Power Co, which is 65 per cent owned by Enron, should link its charges
        Bloomberg  -  82 words
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      612 8 IN THE MATTER OF THE COMPANIES ACT, (CHAPTER 50) AND IN THE MATTER OF AMERICAN HOTEL REGISTER PTE LTD (In Creditors' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap. 50, the Final Meeting of the Company and the
      612 words
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      Lock icon Page 8 Advertisements Column 2
      94 8 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF CONCORDE-SYSMA DEVELOPMENT PTE LTD (In Members' Voluntary Liquidation) NOTICE IS HEREBY GIVEN that the FINAL MEETING of the abovenamed Company will be held at 371 Beach Road #19-06 Keypoint, Singapore *****7 on 14th May 2001 at
      94 words
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  • e-NEWS
    • Article
      Lock icon IBM to unveil microchips for Internet devices
      512 9 NEW YORK While 'evolutionary', it's also unchartered territory NYT IBM was yesterday set to unveil a new family of microchips intended to reduce sharply the size, power requirements and cost of components in Internet appliances and portable consumer electronics devices. IBM said on
      NYT  -  512 words
    • Article
      Lock icon Microsoft to hire 5,000 next year
      211 9 REDMOND, Washington Bloomberg MICROSOFT Corp said it plans to hire 5,000 to 6,000 workers in the fiscal year beginning in July, fewer than the number projected for the current year, as the biggest software maker cuts costs. The hires will fill new positions and
      Bloomberg  -  211 words
    • Article
      Lock icon BritTel gets options for J-Phone units
      538 9 TOKYO Japan Telecom grants the 68b yen bargain options for 5% stake in three units Reuters BRITISH Telecommunications, burdened by heavy debts but eager for a bigger piece of Japan's high-flying wireless market, yesterday got a bargain on options for stakes in Japan Telecom
      Reuters  -  538 words
    • Article, Illustration
      Lock icon Chinese cellphone business: a not of gold
      51 9 *—A a [BEIJING] A man talks on a mobile phone as he walks past a rainbow in an advertisement painted outside a shopping centre in Beijing on Wednesday. There are about 70 million mobile phone users in China, the largest market in Asia.
      REUTERS  -  51 words
    • Article
      Lock icon Intel's 1st-qtr profit to fall by half, say analysts
      363 9 SANTA CLARA, California Sales seen dropping 19% to USs&sb on falling imuj slowing economy Bloomberg INTEL Corp will report on Tuesday first quarter profit that is less than half what the biggest computer chip maker earned a year ago, hurt by
      Bloomberg  -  363 words
    • e Briefs
      • Article
        Lock icon Conference axed due to economy
        98 9 Bloomberg [AUSTIN, Texas] Compaq Computer Corp and Dell Computer Corp, the biggest makers of personal computers, cancelled or postponed major conferences because of the slowing economy. Dell cancelled this year's Direct Connect conference in Austin, Texas because its corporate clients are restricting employee travel, company
        Bloomberg  -  98 words
      • Article
        Lock icon Yahoo to strip adult products from sites
        72 9 Bloomberg [SANTA CLARA, California] Yahoo! Inc, which owns the most-used Internet search site, will remove adult-related products such as videos and DVDs from its shopping, auction and classified websites. The company said in a statement that it made the decision because of requests
        Bloomberg  -  72 words
      • Article
        Lock icon Net use by US blue-collar workers up
        110 9 Reuters [SAN FRANCISCO] Internet access in March for homes headed by blue-collar workers in the United States grew faster than for homes led by any other job type, jumping 52 per cent since March 2000 and making the Web a more democratic medium,
        Reuters  -  110 words
    • Article
      Lock icon Digital smell technology loses investors' interest
      347 9 SAN FRANCISCO DigiScents nnable to get new funding from earlier investors, like CyberWorks Reuters AN ambitious start-up that had planned to bring the sense of smell to computing, shut down Wednesday when backers apparently tired of smelling burning cash. DigiScents Inc, a developer of
      Reuters  -  347 words
    • Article
      Lock icon PSINet initiates third round of layoffs
      471 9 NEW YORK LAT-WP PSINET Inc initiated a third round of layoffs this week affecting salespeople, engineers and even the department that maintained the corporate website for the past 1 Vt years. A spokesman for the Internet service provider declined to disclose the number of
      LAT-WP  -  471 words
    • Article
      Lock icon Cisco to offer 6 months pay
      337 9 SAN JOSE, California Bloomberg CISCO Systems Inc said it will offer as much as six months of severance pay and discontinue additional products as part of its plans to reduce its full-time workforce by up to 5,000 people. The largest maker of equipment to
      Bloomberg  -  337 words
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  • WORLD news
    • Article, Illustration
      Lock icon Bush toughens stand towards Beijing
      626 10 WASHINGTON He says the crew's detention 'does not advance constructive relations' between the two countries Reuters PRESIDENT George W Bush took a tough line towards China as he welcomed home the US spy plane crew on Thursday, saying their 11day detention did not advance constructive
      Reuters; AP  -  626 words
    • Article
      Lock icon Chinese jet hit spy Diane, broke in two
      135 10 AP A. [BEIJING] A Chinese fighter pilot crashed into the left engine of a US spy plane after twice flying within as little as one metre of the aircraft, senior US diplomats said yesterday. They said the Chinese jet then struck the
      AP  -  135 words
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      Lock icon US economy seen to be at critical point
      533 10 NEW YORK Reuters A SUDDEN drop-off in consumer sentiment in April represents a "critical juncture" for the US economy and could usher in a full-blown recession if it falls much further, the administrator of a key consumer sentiment survey said on Thursday.
      Reuters  -  533 words
    • Article
      Lock icon Chinese lessons for US to learn
      694 10  -  A cold war with one-fifth of humanity will not be In America's interests By Thomas L Friedman NYT SO what are the lessons from this latest China-US crisis? They are: (1) When dealing with China, carry a big stick and a big dictionary. (2)
      NYT  -  694 words
    • Article
      Lock icon NKK, Kawasaki Steel to forge alliance next year
      329 10 TOKYO Merging operations will help develop products, cut debt Reuters JAPAN'S second largest steelmaker, NKK Corp, and Kawasaki Steel Corp, the third largest, said yesterday they had agreed to set up a joint holding company to merge their operations in October 2002.
      Reuters  -  329 words
    • Article
      Lock icon US unemployment set to hit 5%: report
      145 10 NEW YORK Reuters THE National Federation of Independent Business (NFIB), a US small-business group, foresees the nation's unemployment rate hitting 5 per cent by the autumn, the Wall Street Journal reported in its online edition yesterday. That would represent a level not seen
      Reuters  -  145 words
    • WORLD Watch
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        Lock icon Merrill mulls over job cuts: report
        60 10 Bloomberg [NEW YORK] Merrill Lynch Co is pondering I,ooojob reductions in its brokerage division to save US$4OO million (***** million), the Wall Street Journal reported in its Heard on the Street column, citing people familiar with the matter. Additional jobs could be eliminated in
        Bloomberg  -  60 words
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        Lock icon Dutch farmers clash with riot police
        68 10 AFP [THE HAGUEj With Britain and France appearing to be over the worst of the foot-and-mouth crisis, violence flared in the Netherlands yesterday where the foot-and-mouth disease is spreading to new areas. Riot police clashed with about 100 farmers who tried to stop veterinary
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        Lock icon Blair's election delay pays off: poll
        92 10 AFP [LONDON] British Prime Minister Tony Blair s decision to postpone elections because of the foot-and-mouth crisis has paid off, an opinion poll published in the Daily Telegraph newspaper yesterday showed. The poll gave the Labour Party 53 per cent of popular support, while
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        Lock icon Germany's Metro moving into Japan
        71 10 AFP [TOKYO] German distribution and retail giant Metro Cash and Carry GmbH said yesterday that it would enter the Japanese market through a joint venture with Japanese trading giant Marubeni Corp. The joint venture, named Metro Cash and Carry Japan, would open its first wholesale
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      • Article
        Lock icon GM close to finishing due diligence
        70 10 AFP [SEOUL] US auto giant General Motors (GM) is close to finishing its due diligence of Daewoo Motor Co to acquire the ailing South Korean carmaker, a GM official said yesterday. "We have finished the major parts of the due diligence with work now
        AFP  -  70 words
    • Article
      Lock icon Japan bankruptcy debt hits record high
      616 11 TOKYO Total debt in year to March surges 130.7% to 25.98t yen; number of cases jumps 12.1% Reuters JAPAN'S bankruptcy debt swelled to a post-war record in the last fiscal year as several major firms, including five insurers, collapsed and recession-worn banks turned reluctant
      Reuters  -  616 words
    • Article, Illustration
      Lock icon Hashimoto set for comeback
      654 11  -  COMMENTARY By David DeRosa Bloomberg [NEW CANAAN, Connecticut] JAPAN, a nation desperate for political leadership, is about to hand over the reins of its government to Ryutaro Hashimoto, who failed previously as prime minister. Mr Hashimoto has emerged as the leading candidate to replace outgoing Prime
      Bloomberg; Photos: REUTERS, AFP  -  654 words
    • Article
      Lock icon Japan No 2, No 3 chemical firms eye merger
      309 11 TOKYO Sumitomo, Mitsui set to become world's sth largest by sales Reuters JAPAN'S second-largest chemical maker Sumitomo Chemical Co Ltd and thirdranked Mitsui Chemicals Inc said yesterday they were considering a full merger after establishing a holding company in October 2003.
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    • Article
      Lock icon Japan regulator takes action against Canadian bank
      410 11 TOKYO Reuters JAPAN'S financial watchdog yesterday ordered the Canadian Imperial Bank of Commerce, Canada's third biggest bank, to suspend equity derivative operations in Tokyo for a week. The Financial Services Agency said CIBC violated banking and securities laws by handling intermediary equity derivative
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    • Article
      Lock icon Boeing plans longer range 747-400: report
      247 11 NEW YORK Reuters BOEING Co plans to build a heftier, longer-range version of its flagship 747-400, the Wall Street Journal reported in its online edition yesterday. The plans for the new 747, not yet been publicly announced, signal that the company is not completely
      Reuters  -  247 words
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      34 11 Note: David Deßosa, president of Deßosa Research Trading, is an adjunct finance professor at Yale School of Management and the author of In Defense of Free Capital Markets. The opinions expressed are his own.
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      58 11 mm, W til f Ir^^D^r A new weekly section in The Business Times on Tuesday f It's about university education, both here and overseas. While written mainly by undergraduates, our main aim for starting this section is to cater to the growing number of our readers who have college-going children.
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  • FINANCE & commodities
    • Article
      Lock icon Futures decline after opening high
      239 12  -  SGX Derivatives Trading Report Wong Ann Chuen Refco (Singapore) Pte Ltd THE Taiwan stock market traded mixed yesterday, being bullish at the outset, but plunged to the close on profittaking. The MSCI Taiwan Stock Index shed 1.90 points, or 0.77 per cent, to finish at
      239 words
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      Lock icon KL to offer India RM6b deal
      326 12 Reuters [KUALA LUMPUR] Malaysia plans to offer India a RM6 billion (Ss2.B billion) railway project in a counter trade deal under which India would buy Malaysian palm oil, a Malaysian minister said on Thursday. The contract would involve dual tracking and electrification of railway
      Reuters  -  326 words
    • Article
      Lock icon CURRENCY REPORT
      213 12 AFP Tokyo THE US dollar rose against the yen in thin Tokyo trade yesterday as investors covered their short positions in the US currency, dealers said. The greenback traded at 124.23-26 yen at spm (0800 GMT), up from 123.65 yen in New York and 123.25-29 yen in Tokyo
      AFP  -  213 words
    • Article, Illustration
      Lock icon Untitled
      1214 12 MTERBAMM CROSS RATBS W Eot Ffr Pw w *t*ih++ Yon Won KM N2$FafcKs Pto S$ Bind Sfr MT$ BUt Pound USS Australia 0.788 4.189 0.569 1736 IH4 3.937 ***** 53.756 0.622 6.647 1918 1247 30.*****.238 0.911 4.040 0.865 16.*****.893 0.352 0 505 Canada 1269 5.316 0.723 4.742 1414 4.996 30.027
      1,214 words
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      Lock icon Untitled
      1818 12 sScOMFUTuiuBS RUBBER (Mures closing as «t 5.30pm) RSS1 CONTRACT (S cents/kg) Close Volume OpM Month High Low Sttt (touts) Interest May 01 105.00 400 Jw 01 106.50 800 Jul 01 107.00 250 Aug 01 107.50 250 RSS 3 CONTRACT (US certs/kg) Volume OpM Uimlk UUL a f.|t -V lafiriit nomn
      1,818 words
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  • STOCKS east asia
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      Lock icon CHINA
      1108 13 AFP Shenzhen B Index -L7B CHINA'S Shenzhen B Share Index edged down 1.78 points, or 0.51 per cent, yesterday to end at 348.59 as turnover tumbled 47.92 per cent to a thin HK5823.59 million. Shanghai B shares rose 0.9 per cent in volatile trade as strong buying demand emerged
      AFP; Source: Credit Lyonnsis Securities(Asia) Ltd  -  1,108 words
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      Lock icon TAIPEI
      383 13 AFP HWP Index -37.75 TAIWAN share prices closed 0.7 per cent lower yesterday after late selling wiped out earlier gains, dealers said. The Taiwan Stock Exchange Weighted Price Index shed 37.75 points to 5,495.49, on turnover of NT592.5 billion. The market opened higher on Wall Street's gains on Thursday,
      AFP  -  383 words
    • Article
      Lock icon SEOUL
      312 13 AFP Index +LB9 KOREAN stocks rose 0.4 per cent. The index closed up 1.89 points at 516.10. Turnover was 342 million shares at 1.3 trillion won. —AFP Apr 13 Won Anam Semi 4110 -90 Brain Tech 695 25 Central Bank 170 0 Cheil Comm ***** -400 Dae Gu Bank
      AFP  -  312 words
    • Article
      Lock icon Tokyo stocks lose early gains but end higher
      2092 13 TOKYO AFP Q Nikkei 225 *3128 SHARE prices in Tokyo rose a modest 0.2 per cent yesterday as late profit-taking wiped out earlier gains which had been triggered by the rises on Wall Street, brokers said. The Tokyo Stock Exchange's Nikkei Average
      AFP  -  2,092 words
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  • STOCKS klse
    • Article
      Lock icon Untitled
      9100 14 INDUSTRIALS Conswwr products 2001 Last Vol Day Nat Cap High Low Company Sale 'OOP High Low P/E Smll 340 290 Ajinomoto 290 17 117.5 45 24.5 Angkasa 26.5 -0.5 6 27 26.5 39.1 342 282 Apollo Food Hlq 290 6.3 116.0 356 277 Asm File 298 11.9 198.4 3875 3225
      9,100 words
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      Lock icon KL shares end 2.6% higher on local buying
      442 14 AFP Composite Index +14J0 MALAYSIAN shares closed 2.6 per cent higher yesterday after WaU Street's gains overnight prompted buying by local funds, dealers said. The Kuala Lumpur Stock Exchange Composite Index rose 14.90 points to finish at 581.37. The Second Board Index
      AFP  -  442 words
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  • The Arts
    • Article, Illustration
      Lock icon Of gods and mortals
      892 15  -  Cowherd meets tioddess-weaver and the earth moves. Kvery myth tells a darn u'ood story that can be updated to lit the times. A remake of The Silver River promises to he one such intriuuiim' update, and a liToiindbreakinii' one Ironi a trio of innovators. PARVATHI NAYAR
      892 words
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      Lock icon THE CREATORS
      256 15 Bright Sheng, composer Born in Shanghai, began pla\ ingthe piano at age {'our. He has studied under the I ikes of Leonard Bernstein and Chou Wen-Chung: been composer-in-residence with prestigious institutions like the Lyric Opera of Chicago: been offered performances and commissions by major ensembles and soloists, including
      256 words
    • Article, Illustration
      Lock icon Crisis control
      581 16  -  The tightly-directed Yi H seems like a Taiwanese soap as it lurches from one mishap to another in a strangely compact 173 minutes; while Clouds of May offers refreshing insights SINGAPORE INTERNATIONAL FILM FESTIVAL 2001 SUSAN TSANG reviews three films SUSAN TSANG EDWARD Yang has explained that Yi
      581 words
    • Article
      Lock icon Fun in the sun takes a surreal turn
      574 16 Tales of an Island is interesting less as a followup to Tales of Kish (1999). More importantly, it shows how two of Iran's big guns handle surrealism, and the process of filmmaking. US-educated Dariush Mehrjui, whose 1969 The Cow was credited with
      574 words
    • Article
      Lock icon SSO presents: Cantonese opera
      518 16  -  By John Gee THE Singapore Symphony Orchestra is joined this week by guest musicians from China to form an orchestra of nearly 100 members for three evenings of Cantonese opera music, a new venture for the SSO. China-born, Singapore-based Qiu Yong Ji, principal of the Qiu
      518 words
    • Article
      Lock icon CLOUDS OF MAY
      360 16 Clouds of May is an understated effort, with little action. However, those who let filmmaker Nuri Bilge Ceylan work his magic will be richly rewarded. The Turkish film echoes Iranian director Abbas Kiarostami's "film within a film" style, and is about a filmmaker, Muzzafer, who returns to
      360 words
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      Lock icon Elementary school
      764 16  -  Music and movement, light and sound combine in John Sharpley's uniquely cross-cultural experience, The Elements, cbeab ux-hoon meets the maestro CHEAH UI-HOON AT LEAST 25 different metal-based instruments, plus the Chinese erhu, harmonium, a synthesizer and the human voice not to mention several pots and glasses will form
      CHRIS LOH  -  764 words
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      32 15 The Silver River, May 3-10, Victoria Theatre; tickets from $25-$75 available at Sistic (*****55). Various discounts for seniors, students etc apply. The Business Times is the official paper for The Silver River.
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      23 16 An Evening of Cantonese Opera Music ends today at the Victoria Concert Hall. For ticket information call Sistic at *****550r go to www.sistic.com.sg
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      39 16 The Elements will be held on April 21 (2pm and 7.30pm) and April 22 (7.30pm) at the Singapore Art Museum's Auditorium. Tickets are $20for evening shows and $15for matinee. For enquiries and ticketing details, please call *****140r email: sharpley@singnet.com.sg
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  • New Asia Biz Woman
    • Article, Illustration
      Lock icon In the family way
      895 17  -  Issues facing Singapore families today get an airing in The Necessary Stage's FamFest 2001. Social worker Yap Ching Wi tells cheah ui-hoon why the arts is an ideal stage for such a forum CHEAH UI-HOON SOCIAL work is not considered an arty thing, and could well
      895 words
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      Lock icon A brief history of Hillary
      529 17  -  By I Susan Tsang itui unnions were perhaps the oddest couple to move into the White House, and this was mainly due to Hillary Rodham Clinton. For once, the First Lady was actively involved in the process of government. While he was folksy and full
      REUTERS  -  529 words
  • THEATRE
    • Article, Illustration
      Lock icon What a tangled web they weave
      457 17 Slava's Showshow is both dark and dreamy, filled with all the humour and pathos of the sad clown, writes PARVATHINAYAR IT'S such a simple but effective idea, that it's a wonder no one thought to create a show around it before heaps of paper
      RICHARD CHNG  -  457 words
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      54 17 The social work agencies involved in FamFest 2001 are Fei Yue Family Service Centre, National Youth Council, Care Corner Mandarin Counselling Centre, Lions Home for the Elders, Chen Su Lan Methodist Children's Home, Changi General Hospital, Tampines Family Service Centre, Centre For Fathering, Eastshore Hospital, National Volunteer Centre and Filipino
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      61 17 Hillary's New York Adventure airs tonight on BBC World at 10.10pm, with a repeat tomorrow at 5.10pm Till April 22:8 pm (Tue Sun); 2.30pm (Sat Sun) (No show on Monday) Tickets: $40, $50, $65 $80 (matinee); $40, $60, $80 $95 (evening show); student tickets of $40 available for matinee and
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  • Article
    Lock icon THE PROGRAMME
    592 18  -  Compiled b; Aaron Lye MUSIC 1 Love My Love A performance by the Singapore Philharmonic Chorus, conducted by Johannes Prinz featuring compositions by Brahms, Dallapiccola, Seiber, Toch and Hoist. ♦Apr 18-19,8.15pm, Victoria Concert Hall. Tickets priced at $13, $19, $23 and $29 available from all Sistic outlets and
    592 words
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    Lock icon SPOTLIGHT
    83 18 The buzz: An Occasional Orchid, a story about a Malaysian transvestite taking on London which explores the issues of cultural and sexual identity. Plot and players: Directed by Ivan Heng, An Occasional Orchid stars Chowee Leow as Zoe the cross-dresser. Performed in London, Amsterdam, Hongkong and Malaysia, the show
    83 words
  • Art beat
    • Article, Illustration
      Lock icon REVIEW
      321 18  -  B: Trina Foo High notes MUSIC Box at the Singapore Art Museum wrapped up last Sunday night with Concave Scream's gig, marking an end to three days of cross-cultural musical performances. The four-man band (below) put up a tight set, performing six songs in "Rock With A Difference" to
      321 words
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      Lock icon NEWS
      580 18  -  Cheah Ui-Hoon,Aaron Lye Hello Hollywood SIX Singapore films will be screened in Hollywood come April 18 and 19 as part of a showcase at the 600-seat 1922 Egyptian Theatre. Entitled "Singapore Nights: New Films from Singapore", this is a first-time collaborative effort between The Substation Ltd and the American
      580 words
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      55 18 An Occasional Orchid, April 17 to May 13 at The Room Upstairs, 42 Waterloo Street (Action Theatre). Tickets at $19.50 (previews at Bpm on Apr 17-18) and $29.50(8pm shows and Sat-Sun 3pm matinees). No performances on Sunday and Monday nights. Tickets available from all Calendar One outlets and via the
      55 words
  • Page 18 Miscellaneous
    • Miscellaneous
      Lock icon Page 18 Miscellaneous Column 1
      864 18 ftUi :Tm j fiTTffS—^— Central m ®-®0 Aksi Mat Yoyo. HOO The World Tonight. Au 5.00 Earth Final Conflict. 540 AnganKu. IL3O 48hrs. T> AM Kids Central. The MO Peter Benchley's Ama- 6.00 Spirou. 1240 AM Star's Time Out. aqa o zon MO Ultraman Tiga. LOO Headlines H R a
      864 words
    • Miscellaneous
      Lock icon Page 18 Miscellaneous Column 2
      292 18 CRYPTIC CROSSWORD ACROSS 6 Not in a situation to hold remote 1 Others address housing refur- stronghold (7) bishment (11) 7 CIA made rare broadcast to 9 Cruise in a steamer, despite show esprit de corps (11) storms (7) 8 Disease-bearing insect is back 10 One in rage displays spirit
      292 words