The Business Times, 21 April 2001
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2001-04-21
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The Business Times
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Title Section18 2001-04-21 1 THE BUSINESS TIMES MrTA(P)IO7/03«001 TO I? R 67 -j ■mfli I Internet: http://business-times.asial.com.sg/ SATURDAY. APRIL 21, 2001 85c18 words
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Article82 2001-04-21 1 STI M6CJ9 (+10.25) n M U «M 7 (+1.87) ST HIDKEX FDTTJIES U6UO (+10.00) VVSDBKI nnPDBES U ma (+1.40) STOCK XABXET INDICES Friday Change KL5E COMP 576.67 +6.66 NIKKEI 226 13,766.67 -102.61 HANG SENG 15,448.13 -106.82 SET INDEX ***** -6.49 JAKARTA COMP __342J6 4.46 MANILA COMP —M28i4 -6J382 words
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Article82 2001-04-21 1 FOBEX BATES us$ s$ USS (SSperCSS) 1.810 £(USS/S$per£) 1.446 1617 ElTtO(US$/SS/E) 0.900 1.629 DM 1172 1100 YEN 121J 67.40 RM 1800 1100 HKS 7.799 4J10 BAHT —46.48 25.13 RUPIAH 116,86 6,402 *S$ to 100 units •S$ to 100 units PBOIE SATES SINGAPORE* 5.80 KUALA LUMPUR 7.67 JAKARTA 39.00 BANGKOK82 words
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718 2001-04-21 1 Ling Su Ann - Move in preparation for new laws to give them more teeth in new environment By Ling Su Ann [SINGAPORE] The stock market's regulators the Monetary Authority of Singapore and the Singapore Exchange are beefing up their enforcement arms ahead of the passage of718 words
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731 2001-04-21 1 Quak Hiang Whai - Independent shareholders once again taking on the Keswicks at A6M From Quak Hiang Whai in Honakoria DISGRUNTLED Jardine Matheson Holdings shareholders are once again circling the company as its annual general meeting draws near. And should the renegade shareholders731 words
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509 2001-04-21 1 David Boey - n exclusive Move comes as group posts USs3o.9m loss in first quarter By David Boey [SINGAPORE] Senior managers at Chartered Semiconductor Manufacturing believe in taking personal responsibility for their company's bottom line. The group posted its first loss in six quarters yesterday and its509 words
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Article, Illustration793 2001-04-21 1 Shoeb Kagda - Growing fear that Jakarta is losing trast of international community From Shoeb Kagda in Jakarta INDONESIA'S fragile economy is on the brink of collapsing again as the country's fractious political elite battle for supremacy, while the international community holds793 words
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Page 1 Advertisements
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Advertisement104 2001-04-21 1 liming Top Stories Investors bet on beneficiaries of Daim's possible exit. NmxtPmg* Paul McCartney is UK's richest musician. Pg9 Executives to be allowed to join unions. Pg 6 CEOs in US are confident the economy will rebound. Pg 9 Tech results Ericsson warns of 02 loss, plans job cuts. Pg104 words
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Advertisement22 2001-04-21 1 m \Tjif Interview Asian film directors Page a Stall's costliest 5 v •v* fpts s'.- *il to crash cars Motoring, Page 1122 words
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NEXT page
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ON THE grapevine
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Article108 2001-04-21 2 IF you're bored this weekend and want to celebrate this week's splendid recovery in your US stockmarket portfolio, here's one way to do it. We received an e-mail message yesterday on specials from Performance Motors, the agent for BMWs. Apparently they've got a few open category COEs that108 words
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Article79 2001-04-21 2 WOULD you believe that there's a software out there which can mimic the way humans learn and think? A press release from SER Systems International says that its software—called SERbrainware —can be used, for instance, to settle the question of whether William Shakespeare was the79 words
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Article, Illustration510 2001-04-21 2 Eddie Toh - Investors bet on beneficiaries if he resigns after leave From, Eddie Toh in Kuala Lumpur CERTAIN Malaysian stocks surged yesterday on rumours that Finance Minister Daim Zainuddin is planning to quit on his return from his twomonth break in end-JuneSource: Bloomberg - 510 words
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Article, Illustration726 2001-04-21 2 Rachel Ong - PEOPLE He plus to pursue his passion in organised psychekgyud leadership, go for further studies By> Rachel Ong [SINGAPORE] Tan Suee Chieh, managing director of Prudential's insurance business in Hongkong, Singapore and Malaysia, is leaving the company after 20 years. Asked why726 words
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535 2001-04-21 2 Loh Hui Yin - Ample liquidity, reserves; sonnd fundamentals cited by analysts By Loh Hui Yin [SINGAPORE] Ample liquidity and reserves, sound economic fundamentals and better monitoring of money markets will help Hongkong stave off pressure on its currency's peg to the US535 words
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Page 2 Advertisements
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Advertisement82 2001-04-21 2 Since 1975 our worldwide staff of over 275 multi-disciplined professionals V* W including lawyers, chartered accountants. i S chartered secretaries and bankers have J M S provided confidential and cost effective company formation in all the major low fl| tax areas Incorporation Fees from USSSOO The world's leading Florence Nathan82 words
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Advertisement10 2001-04-21 2 A welcome breath of fresh air in KL, Pg 710 words
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SINGAPORE companies
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434 2001-04-21 3 Loh Hui Yin - No China licence yet; Singapore life insurer looking at various options By\ Loh Hui Yin SINGAPORE life insurer Great Eastern Holdings wants to go into the vast Chinese market, which is opening up ahead of China's entry into the World Trade Organization. "We have434 words
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315 2001-04-21 3 Serena Ng - By I Serena Ng OCBC Bank said yesterday it had appointed a new chief operating officer, Philip Spencer, to head its eFinancial services subsidiary Bank of Singapore Ltd (BOS). Group chief executive officer Alex Au will continue to be the chairman315 words
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Article1215 2001-04-21 3 anthony rowley - mm lock siew anthony rowley THE US Federal Reserve's surprise decision to lop a further half percentage point off the federal fluids rate has caused Tokyo stock prices to rise sharply, in sympathy with the recovery on Wall Street. But what is probably a1,215 words
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Article, Illustration451 2001-04-21 3 Marissa Chew - Investments abroad to make np 30% of holdings; some office assets to be divested Byi Marissa Chew KEPPEL Land will grow its overseas assets to 30 per cent of its total holdings even as it divests some office assets, its chairman Lim Chee Onn said.FILE PHOTO - 451 words
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Article, Illustration245 2001-04-21 5 Vince Chong - It will also axe staff, dispose of older, less-productive equipment w Vince Chong MAINBOARD-LISTED construction services firm Tiong Woon Corporation yesterday announced job cuts and equipment disposal on the back of waning profits. But there were no further details, as no one from the companyFILE PHOTO - 245 words
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203 2001-04-21 5 Bloomberg BRIERLEY Investments, Air New Zealand's largest stakeholder, said it supports efforts to ease rules capping Singapore Airlines' stake at 25 per cent of the carrier. Brierley chief executive Greg Terry said he backs Air New Zealand's call for the New Zealand governmentBloomberg - 203 words
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475 2001-04-21 5 This will improve efficiency and bring about synergies: mobile phone nnit head Bloomberg SINGAPORE Telecommunications Ltd wants to buy rival Mobile One Asia to boost market share from its current 60 per cent and improve efficiency, said Lucas Chow, chief executiveBloomberg - 475 words
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231 2001-04-21 5 Elaine Phua - Others in venture are Sat Pal Khattar, Elder Health Care By] Elaine Phua HAW Par Healthcare has teamed up with Sat Pal Khattar and Mumbai-listed Elder Health Care Ltd to continue the manufacture and distribution of Tiger brand and other pharmaceutical products in231 words
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COMPANY Briefs
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87 2001-04-21 5 THE Hour Glass says its wholly-owned subsidiary, Multiple Properties, is selling three Boat Quay properties for $3.78 million. The properties were acquired by Multiple in 1990 as investments and are rented out. In line with The Hour Glass's strategy to focus on its core87 words
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Article92 2001-04-21 5 KUOK company Hovert Investments says its basic offer of $1.25 a share has gained acceptances amounting to 51.94 per cent of the issued capital of Pacific Carriers Ltd (PCL). Hovert intends to take PCL private. Its offer is now unconditional and the price will not be92 words
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Article53 2001-04-21 5 POKKA Corp said net profit for the year to Jan 31 rose to $1.94 million from $1.1 million previously. Turnover increased to $117.81 million from $105.75 million. The company said market conditions are competitive but the group's performance in the current year is expected53 words
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Article58 2001-04-21 5 HONG Leong Finance and Trans-Pacific Credit have notified i-One International that they had force-sold i-One shares pledged to them by controlling shareholder K K Fong. While Hong Leong unloaded 650,000 shares at an average 9.615 cents each, Trans-Pacific Credit sold 2 million shares58 words
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Article45 2001-04-21 5 IN yesterday's report, "STI falls 13.2% to date", we mentioned that i-One Net's foray into Malaysian properties caused it to lose more than $20 million. This is incorrect. i-One Net has not made any foray into Malaysian properties. We are sorry for the error.45 words
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Page 3 Advertisements
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Advertisement1437 2001-04-21 3 I HOTEL PROPERTIES LIMITED (Incorporated in Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Twenty-First Annual General Meeting of the Company will be held at the 2nd Floor Crescent Ballroom, Four Seasons Hotel Singapore, 190 Orchard Boulevard, Singapore *****6 on Wednesday, 23 May 2001 at 4.001,437 words
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SINGAPORE markets
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Article, Illustration190 2001-04-21 4 R Sivanithy - WARRANT WATCH By: R Sivanithy THE Straits Times Index may have rallied 4 per cent this week but for much of the broader market the story is the same as it has been for months no liquidity and narrow price movements. If there is no190 words
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Article, Illustration222 2001-04-21 4 Ven Sreenivasan - HOT STOCK By Ven Sreenivasan VENTURE Manufacturing has leapt a whopping 30 per cent from its two-year low of $9.80 on Tuesday. The stock closed unchanged at $12.80 yesterday on volume of 2.7 million, down from its 10-day moving average of 3.4 million shares. The222 words
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Article, Illustration598 2001-04-21 4 r. sivanithy - l i comment STOCKS r. sivanithy NOT unexpectedly, the Straits Times Index came under pressure yesterday as punters locked in profits after its decent showing on Wednesday and Thursday. Thanks to a surge in Singapore Airlines shares, the index held598 words
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Article, Illustration563 2001-04-21 4 larry wee - hi I comment CURRENCIES As/S$ jumps through vital resistance, targets year's 99 Sing cent high again larry wee THE US dollar continued to crumble against its non-Asian counterparts yesterday, but renewed export fears on US economic weakness, and another massive Indonesian rupiah fall forcedSource: Reuters - 563 words
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Article334 2001-04-21 4 Stocks Vduww GES Intl Ltd 20c 22,271,000 Chart Semiconductor 26c 17,799,000 ST Assembly 25c 14,997,000 Omni Ind 10c 12,375,000 Goldtron 5c 12,328,000 PCI 25c 11,868,000 PacificCenturylOc 11,484,000 SembCorpI 25c 8,406,000 Poh Lian 10c 7,833,000 AddvalTech 2.5c 7,423,000 Stocks DBS Grp 90,469,012 Chart Semiconductor 26c 84,147,250 Datacraft 10c 50,719,928 SIA 47,818,308334 words
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Article2672 2001-04-21 4 UNIT TRUSTS FUNDS Manager's prices (Ss)Apr 21 Aberdeen Asset Mgt Asia Ltd Aberdeen Select Portfolio: Global MNCFd 0.763 0.802 Global Technology Fd!** 0.694 0.730 UK Blue Chip Fd!** 0.781 0.821 American Opport Fd 0.861 0.905 Cont Euro Eqty Fd!** 1.067 1.121 Japan EqtyFd!** 1.237 1.300 Asian Fixed Income Fd 1.0902,672 words
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Article5000 2001-04-21 5 Net MTU EPS Medlastream 27-Mar P S.622L 5.754L UL 2.9L Ma TY LY TV LV Medl-Rad 16-Mar P 1.694 1.603 109 LIT Company am (4m) (Sin) (eta) (eta) MadtacsUSS 28-Mar P 2.147 3.617 0.73 1.38 r 1 Melban 27-Fad P 6.133 2.163 7.1 2.5 ABRHIdgs 31-Mar5,000 words
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Advertisement19 2001-04-21 5 Locate its owner through Classification 821 (Found). Simply call CJLT.S. at 1800-737-1166 for this free service. Another Classified Service19 words
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SINGAPORE news
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Article, Illustration554 2001-04-21 6 Chuang Peck Ming - PARLiAMENTrrroa Only for those who play no big managerial role Reports by Chuang Peck Ming THE government has finally given the green light for executives who play no big managerial role to be in the same unions as workers. "The recommendation has beenFILE PHOTO - 554 words
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Article, Illustration495 2001-04-21 6 Conrad Raj - RAFFLES TOWN CLUB SAGA Parties concerned seek adjournment till May 4 to continue off-court talks Byi Conrad Raj THE Raffles Town Club quarrel appears to be at least a fortnight away from settlement. Lawyers acting for the various parties involved in several civilFILE PHOTO - 495 words
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221 2001-04-21 6 PACIFIC Century Regional Developments (PCRD) will launch 40 of 80 units at its No 1 Holt Road condominium this weekend at prices from $906 per sq ft. It is understood the average price for the 40 units is221 words
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556 2001-04-21 6 Checking by independent third party also possibility STEPS wiU be taken including checks by an independent third party to ensure that electronic voting is secret, Home Affairs Minister Wong Kan Seng assured Parliament yesterday. In the writing of the software, the design556 words
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75 2001-04-21 6 ONLINE financial services will be available to all Maybank Singapore customers from April 23. The Maybank2u service will complement existing phone banking, mobile phone banking and the Maybank eCard. Among other things, Maybank2u users will be able to conduct balance inquiries, fund transfers, credit card75 words
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369 2001-04-21 6 Ling Su Ann - By] Ling Su Ann ABN Amro Bank yesterday said it will join the housing loan fray to grab a larger slice of the already saturated market. Its two new packages available from Monday will offer one of the lowest rates369 words
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410 2001-04-21 6 Anna Teo - rare on the economy US rate cut Byi Anna Teo THE surprise 50 basis point US rate cut this week will, among other things, boost capital inflows into Asia and relieve pressure on Asian currencies, says SG Securities. In a Fundamental Asia report,410 words
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531 2001-04-21 6 Ong Geok Hin - MAIL PETTI Ong Geok Hin Singapore via Internet I REFER to your article "Fee Fi Fo Fum" by Genevieve Cua (BT, April 11). A further case can be made and, that Is, the fees unit trusts charged are also of the "heads I win,531 words
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Article160 2001-04-21 6 Neo Aik Guat - Too much CPF in insurance Neo Aik Guat Singapore, via Internet I REFER to your report "CPF single-premium insurance sales hit $2.2b in 3 months" by Genevieve Cua (BT, Apr 10). Out of this $2.2 billion, insurance companies are coughing out 2 to 3 per cent to their agents. With160 words
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REGIONAL news
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565 2001-04-21 7 KUALA LUMPUR Rivals seen gaining from new roles without having to spend same costs Bloomberg OSK Holdings Bhd and other Malaysian brokerages that paid millions complying with orders to find merger partners are chafing at a policy change that could see rivals gain strengthBloomberg - 565 words
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Article, Illustration1280 2001-04-21 7 karim raslan - Four recent events augur well for Malaysia WRITER'S JOURNAL karim raslan The writer is a KL-based author and lawyer THE past six months have been gloomy for Malaysia. From my office overlooking Kuala Lumpur, there are times when the smog of corruption1,280 words
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Article, Illustration513 2001-04-21 7 KUALA LUMPUR Move aimed at new foreign carriers, fresh flights Reuters MALAYSIA said yesterday foreign carriers inaugurating flights or adding operations to Kuala Lumpur will enjoy free landing and parking rights. The concession is a bid by the Kuala Lumpur International Airport (KLIA) toReuters; FILE PHOTO - 513 words
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316 2001-04-21 7 CURRENCY SWAP Dr M concession paves way for Asia-wide currency swap Reuters [KUALA LUMPUR] Malaysia will bow to a majority decision on whether the IMF plays any role in an Asia-wide currency swap safety net aimed at protecting countries facingReuters - 316 words
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Article, Illustration311 2001-04-21 7 KUALA LUMPUR Lower interest rates raised demand for mainly Proton and Perodnacars Bloomberg FIRST-QUARTER vehicle sales in Malaysia rose 16 per cent as lower interest rates spurred demand for cars built by Perusahaan Otomobil Nasional Bhd (Proton) and other makers, an industryBloomberg; REI'TERS - 311 words
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229 2001-04-21 7 KUALA LUMPUR AP MALAYSIA has evacuated the families of staff at a consulate in volatile Indonesian Borneo, citing safety fears because of tension over alleged mistreatment of an Indonesian maid in Malaysia. But Foreign Minister Syed Hamid Albar denied reports that theAP - 229 words
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Article, Illustration485 2001-04-21 8 NEW DELHI India shareholders of Rediff.com claim they were misled by documents Bloomberg REDIFF.COM India shareholders are suing the country's only Nasdaq-listed Web site, claiming they were misled about the education of director Richard Li, founder of Pacific Century CyberWorks Ltd, and otherBloomberg; AFP - 485 words
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378 2001-04-21 8 HONGKONG Leases to be charged at HK$l.4O to HK$l.7O psf a month Bloomberg THE Hongkong government said it will lease out space in its controversial CyberPort information-technology office park for about half the cost of similar privatelyowned buildings. The governmentBloomberg - 378 words
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Article263 2001-04-21 8 BOMBAY US power company may award mandate in a few days report AFP US-BASED energy company Enron Power Corp is putting in place plans to sell its majority stake in the troubled Dabhol Power Co in western India, reports said yesterday. "Enron isAFP - 263 words
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229 2001-04-21 8 BANGKOK AP A GOVERNMENT minister denied yesterday that Prime Minister Thaksin Shinawatra tried to avoid taxes by giving his son a US$9 million (5516.2 million) loan, a transaction likely to be investigated by an anti-corruption panel. Deputy Commerce Minister Suwan Walaisatien, one of Thailand's topAP - 229 words
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340 2001-04-21 8 NEW DELHI Demand for cheap, generic drugs in developing countries AFP INDIAN pharmaceutical companies making cheap, generic anti-Aids drugs are viewing a landmark case in South Africa as a lucrative opening for their products in the developing world. The world's big pharmaceutical manufacturersAFP - 340 words
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Article, Illustration380 2001-04-21 8 Audrey Tan - From Audrey Tan in Hongkong HONGKONG'S unemployment rate continued to rise in March, as the slackening property sector led to more lay-offs in the construction and real estate industries. Latest government figures released yesterday show that the seasonally adjustedAFP File Photo - 380 words
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421 2001-04-21 8 HONGKONG Prime rates also cut; moves seen having limited impact Reuters HONGKONG banks slashed interest rates yesterday for the fourth time this year, but analysts said the move will bring little cheer to the territory amid worries over whether the USReuters - 421 words
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ASIA Notes
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78 2001-04-21 8 Reuters [BEIJING] China will revise rules on mergers and acquisitions by foreign companies to help boost foreign investment, China Securities reported yesterday. An amendment to the guidelines on foreign investment "has entered its final stage", the newspaper quoted Assistant Foreign Trade Minister MaReuters - 78 words
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70 2001-04-21 8 Bloomberg [TAIPEI] Taiwan's central bank lowered its key interest rate an eighth of a percentage point, the fifth cut since December, to help an economy sapped by falling exports, shrinking domestic spending and record unemployment. The central bank said it cut the key rediscountBloomberg - 70 words
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68 2001-04-21 8 AFP [NEW DELHI] A securities watchdog on Thursday banned for life India's most controversial stockbroker from operating the financial markets for his role in the country's largest stock scandal. The Securities Exchange Board of India said it was "permanently barring" broker Harshad Mehta because heAFP - 68 words
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79 2001-04-21 8 Bloomberg [MANILA] Ayala Corp, which invests in real estate, banking and telecommunications, will have a first quarter profit little changed from last year, said chief executive Jaime Augusto Zobel de Ayala. The company made 1.37 billion pesos (5549.3 million) last year, 27 per centBloomberg - 79 words
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Page 8 Advertisements
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Advertisement231 2001-04-21 8 NOTICES To advertise call 1011-free 1800-741 1883 Fax No: 741 1298 j In the Mailer of Tht Companies Ad, Cap. 50 And In the Mailer of ABDULHUSAIN PROPERTIES PRIVATE LIMITED (In voluntary liquidation) MEMBERS' VOLUNTARY WINDING-UP NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50,231 words
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Advertisement95 2001-04-21 8 IN THE HIGH COURT OF THE REPUBLIC OF SINGAPORE Company Winding Up No. *****2 of 2001 In the Matter of the Companies Act,(Cap. 50) And In the Matter of POINTERS MARINE INDUSTRIAL SERVICES PTE LTD (RC No. *****2557 D) NOTICE OF WINDINGUP ORDER In the matter of POINTERS MARINE INDUSTRIAL95 words
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Advertisement94 2001-04-21 8 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF ASIABYTE (S) PTE LTD (IN CREDITORS' VOLUNTARY WINDING-UP) NOTICE IS HEREBY GIVEN, pursuant to section 296 of the Companies Act, Cap. 50, that the Meeting of Creditors of the above named Company will be held at94 words
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WORLD news
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OTHER RESULTS
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Article113 2001-04-21 9 Reuters [MORRIS TOWNSHIP, New Jersey] Honeywell International Inc yesterday posted a 91 per cent drop in first-quarter net profit after taking charges for cost-cutting moves meant to combat the effect of a slowing economy. First-quarter earnings came to US$4l million (5573.8 million), or five US centsReuters - 113 words
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Article98 2001-04-21 9 Reuters [NEW YORK] Merck Co Inc, the world's No 3 seller of prescription drugs, yesterday posted an 11 per cent rise in first-quarter profits on robust sales of key drugs such as Vioxx for arthritis and the cholesterol fighter Zocor. It reported net income ofReuters - 98 words
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Article130 2001-04-21 9 Bloomberg [OSAKA] Daimaru Inc's second-half profit rose 25 per cent as additional group companies and higher sales at its wholesale and interior design units offset losses in the department store business. Daimaru indicated net income for the six months ended Feb 28 rose toBloomberg - 130 words
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Article85 2001-04-21 9 Reuters [CAMBRIDGE, Massachusetts] Instant imaging company Polaroid Corp on Thursday posted a first-quarter operating loss of US$3B million (5568.4 million) as sales of cameras and film slowed from last year, especially in Europe and Asia. Its second-quarter results would likely be better than this quarter's,Reuters - 85 words
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Article78 2001-04-21 9 Bloomberg [WINSTON-SALEM, North Carolina] RJ Reynolds Tobacco Holdings Inc said first-quarter profit rose 25 per cent because it raised prices on its Winston, Camel and other cigarette brands and interest income almost doubled. Net income increased to US$lOO million (SslBo million), or 98 USBloomberg - 78 words
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Article82 2001-04-21 9 Bloomberg [CHICAGO] Quaker Oats Co, the sports-drink maker being bought by PepsiCo Inc, said first-quarter profit rose 5.6 per cent as the company spent more on new products and sales of beverages and hot cereals increased. Profit from operations rose to US$lll.9 million (*****.4 million),Bloomberg - 82 words
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Article95 2001-04-21 9 Reuters [TOKYO] Japan Airlines Co saw its group net profit for the year ended March 31 soar 18.8 per cent from a previous estimate on brisk demand, helping it weather turbulent times in the global economy. JAL said yesterday group net profit amounted to 38Reuters - 95 words
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Article118 2001-04-21 9 Bloomberg [WESTLAKE VILLAGE, California] Dole Food Co, the world's largest fruit and vegetable producer, said first-quarter earnings fell 4.7 per cent and expects lower secondquarter profit, partly because of a higher tax rate. Second-quarter earnings will come to 55 US cents to 65 USBloomberg - 118 words
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Article, Illustration389 2001-04-21 9 Profit nearly triples as strong sales, tax breaks lift income AP AFP [SEATTLE] Buoyed by strong airplane deliveries and a substantial tax break, Boeing Co's first-quarter earnings nearly tripled from a year ago when the aerospace company was hurt by a strike. The latestAP; AFP - 389 words
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310 2001-04-21 9 SAN JOSE, California Bloomberg, Reuters FIRST-QUARTER unit sales of personal computers in the US declined from a year earlier for the first time, revealing a broad slowdown in demand that's spreading around the world, Gartner Dataquest said. US shipments fell 3.5 perBloomberg,; Reuters - 310 words
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666 2001-04-21 9 JAMES GRANT - ■n«> im but a prlce-flxer for the global economy, says JAMES QRAMT JAMES GRANT The writer is the editor of Grant's Interest Rate Observer. THE essential American financial dilemma is implied in a throwaway line in the statement released by the Federal Reserve666 words
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Article559 2001-04-21 9 CORPORATE RESULTS But they remain downbeat on economy's near-term health and employment growth Reuters [NEW YORK] US chief executives, while pessimistic on the economy's near-term health, are growing more optimistic about the prospects for an economic recovery later this year, a Conference Board surveyReuters - 559 words
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319 2001-04-21 9 LONDON Bloomberg PRUDENTIAL pic, the British insurer that's trying to buy Houston-based American General Corp, said first-quar-ter sales of mutual funds, pensions and life insurance rose 29 per cent, led by demand from Asian clients. Sales increased to £642 millionBloomberg - 319 words
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Article, Illustration277 2001-04-21 9 AP [LONDON] Baby, you're a rich man. Sir Paul McCartney, who sang that song with The Beatles, is Britain's richest musician, according to the Sunday Times' annual list of the country's wealthiest people. McCartney's personal fortune grew by £163 million (***** million) last year toAP; AFP - 277 words
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MOTORING
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Article, Illustration626 2001-04-21 10 CHRISTOPHER TAN - After movies, BMW aims at a cyber audience now, says CHRISTOPHER TAN CHRISTOPHER TAN HAVING had a successful run supplying James Bond with rides on celluloid, BMW is moving to cyberspace to capture new626 words
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Article, Illustration364 2001-04-21 10 BMWs career on the silver screen started in the mid-*****, when the classic 507 (only 252 built) was snapped up by luminaries such as Ursula Andress, David Carradine and John Derek. It was given a leading role in the 1959 movie Invitation to Monaco, GraceFILE PHOTO - 364 words
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Article830 2001-04-21 10 CHRISTOPHER TAN - With improvements in automotive technology, perhaps it is time for the authorities to rethink the speed limit says CHRISTOPHER TAN CHRISTOPHER TAN The writer recommends that this piece be taken lightly, except maybe that bit about DBS Bank THERE is a popular theory about space and time830 words
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BT motoring
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BUMPER to bumper
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97 2001-04-21 11 DID you know that shock absorbers can affect the performance of anti-lock brakes (ABS)? With defective shocks, braking distance of cars fitted with ABS can increase by up to 20 per cent. In addition, the danger of aquaplaning rises, and stability in the curve becomes97 words
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185 2001-04-21 11 HARLEY-Davidson Inc's Japanese unit said 2000 sales rose even as the domestic heavy motorcycle market shrank, helping the company overtake local makers for the first time in 16 years. Bloomberg said sales for the largest US motorcycle maker rose 7.6 per cent185 words
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140 2001-04-21 11 MG ROVER has won a contract to supply the British government with Rover 75s for cabinet ministers' official use. The first car, a black 2.5-litre Connoisseur model, is already being used by Stephen Byers, the secretary of state at the Department of Trade140 words
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Article, Illustration115 2001-04-21 11 AUDI'S A 4 has emerged tops in an independent and comprehensive test. Leading German magazine Auto Bild evaluated the A 4 and its competitors from all angles from the anonymous purchase of the test vehicle at the dealer to the crash test performed by TUV115 words
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Article104 2001-04-21 11 and wins yet more accolades ELSEWHERE, the new Audi A 4 has captured two coveted design awards within just a few days. The North Rhine-Westphalia Design Centre gave it its "red dot award" for its outstanding design. At the same time, the A 4 received the "Autonis" award presented by104 words
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206 2001-04-21 11 HERE'S a car that promises to do what a mobile phone of the future might do. Volkswagen's prototype netconnect Passat is a multimedia car that is linked to the owner's home by various communication channels. Home and car communicate by two different paths. One of206 words
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89 2001-04-21 11 HONDA Motor is recalling more than 110,000 Civic and Integra cars in Japan and Europe, AFP quoted government and company officials as saying. Honda will recall 114,448 vehicles made between June 1993 and December 1995 because of an engine starter defect, Japan's Ministry of Land,89 words
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81 2001-04-21 11 SKODA ended 2000 with sales of 435,403 cars, 13 per cent up from 1999. Western Europe saw the biggest rise of 19.2 per cent to 229,109 units. The Octavia model led growth. It accounted for 158,503 units or 36 per cent of total81 words
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52 2001-04-21 11 Christopher Tan - Compiled by Christopher Tan CITYCAB, Singapore's second largest taxi operator, has become the first in the industry to cover the families of drivers for outpatient medical consultation. The company, owned by listed DelGro Corp, is extending the benefit under its Enhanced Value Care Programme from52 words
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Article, Illustration357 2001-04-21 11 Volvo's new Gross Conntry bridges divide between traditional, modern segments IT'S not often that high waters and high fashion are mentioned in the same breath. But the two came together last night at S M Motors' showroom in Alexandra Road. In a flashbulb-lit affair that featuredRICHARD CHNG - 357 words
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Article, Illustration632 2001-04-21 11 MEET Alf Persson, Saab's most expensive employee. Mr Persson, 47, has cost the company more than half a billion kronor (SsBB million) excluding salary and benefits over the past 12 years. This extravagance is by no means due to his negligence. On the contrary, it is632 words
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158 2001-04-21 11 Han Liang Yuan (Ms - Han Liang Yuan (Ms) Acting Senior Manager Corporate Communications Land Transport Authority WE refer to the letter "Stop misuse of commercial vehicles" by Mah Yew Fai (Wheel Matters, April 14). We share Mr Mah's concerns about the misuse of commercial vehicles for private158 words
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520 2001-04-21 11 Day-Lin Koh Singapore, via Internet - Support the arts —and fall afoul of the law? Day-Lin Koh Singapore, via Internet "TO help nurture the arts and develop Singapore into a vibrant global city for the arts." This is the National Arts Council's mission statement. It has been a great effort and I applaud all who are520 words
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Advertisement93 2001-04-21 11 If you have something $100 worth of motor-related to get off vouchers. Prizes are your chest, write to us. \/\/r IT 1 1 sponsored by We welcome feedback t STAMFORD TYRES, and suggestions from 8f I r .A J Ijfci f Oi Singapore s only j readers. listed tyre and93 words
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e-NEWS
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Article, Illustration514 2001-04-21 12 TECH RESULTS Q1 loss in line with expectations; group hopes to return to profitability in H2 Reuters [STOCKHOLM] Swedish telecoms equipment maker Ericsson said yesterday it would make another loss in the second quarter and cut a further 12,000 jobs as itReuters; AFP - 514 words
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272 2001-04-21 12 HELSINKI Bloomberg NOKIA Oyj, the top maker of cellular phones, said profit rose 9.4 per cent in the first quarter as it cut costs to counter slackening demand. The Finnish company lowered its forecast for full-year sales. NetBloomberg - 272 words
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OTHER Results
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79 2001-04-21 12 Bloomberg [LONDON] Egg pic, the best-performing UK bank stock this year, said first-quarter pre-tax loss narrowed by one per cent as it increased loans to credit card holders. Egg posted a pre-tax loss of £37.9 million (5597.4 million), or 3.4 pence a share,Bloomberg - 79 words
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114 2001-04-21 12 NYT [NEW YORK] Gateway suffered a higher-than-expected loss for the first quarter, after choosing to take a large number of special charges now in the hope of improving earnings later on. Including special charges, the company reported on Thursday a net loss of US$5O3NYT - 114 words
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72 2001-04-21 12 Reuters [TOKYO] Yahoo Japan reported yesterday a record net profit of 2.97 billion yen (5543.8 million) for the year ended March, helped by strong advertising revenues. Parent-only net profit surged 158 per cent to 39,329 yen per share, with sales up 129 per centReuters - 72 words
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94 2001-04-21 12 Reuters [FOSTER CITY, California] Internet search and content delivery developer Inktomi Corp on Thursday posted a quarterly loss in line with lowered estimates but said its turnaround would begin to take shape in the current quarter. Inktomi posted a net loss of U5527.6 millionReuters - 94 words
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568 2001-04-21 12 Reuters [SEATTLE] Microsoft Corp on Thursday posted third quarter profits and revenues that topped Wall Street estimates as the software giant bucked a wider technology slump with strong sales of its Windows 2000 operating system and other corporate software. The world's biggest software companyReuters - 568 words
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477 2001-04-21 12 BANGALORE Results beat analysts'forecasts, share price jumps Reuters WIPRO, India's largest software company by market value, reported yesterday that profit soared 151 per cent in the past quarter from a year earlier, beating analysts' expectations and causing its share price to jump.Reuters - 477 words
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429 2001-04-21 12 LONDON It also eyes BritTel's Internet service; but disagreement over price conld scuttle any deal NYT AFX-Asia AT&T is in talks with British Telecommunications to take control of their US$7 billion (5512.6 billion) joint venture that provides communications servicesNYT; AFX-Asia - 429 words
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Advertisement24 2001-04-21 12 I m Lianhe Zaobao I Enjoy I gourmet I I coffee I I in the office I IttHfim&R I II s«ss. I if«p I24 words
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FINANCE & commodities
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Article270 2001-04-21 13 Wong Ann Chuen Refco (Singapore) Pte Ltd - SGX Derivatives Trading Report ST Index/MSClS'pore Index Wong Ann Chuen Refco (Singapore) Pte Ltd THE Singapore stock market rose yesterday, led by Singapore Airlines posting its biggest gain in 22 months. The Straits Times Index gained 10.25 points or 0.62 per cent to close at270 words
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234 2001-04-21 13 Refco Singapore - MSCI Taiwan Index Refco Singapore THE Taiwan stock market traded narrowly yesterday amid mixed sentiment. The MSCI Taiwan Stock Index trimmed 1.32 points, or 0.52 per cent, to finish at 251.22 points. Turnover for the Taiwan stock index dropped to 623.76 million with 10 counters234 words
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Article239 2001-04-21 13 Reuters London THE yen turned tail after a week of gains, shedding over one per cent against the US dollar and the euro yesterday, after Japanese Finance Minister Kiichi Miyazawa said he was paying attention to yen strength. The yen's 3 per cent gains against the US dollarReuters - 239 words
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Article, Illustration1195 2001-04-21 13 MTBRBAMK CROSS RATES tt n HK$ Yw Wen m H2$P«fcts Ptto S$ Ri»d Sfr MT$ Blrt Powrt US$ Australia 0.797 4274 0 572 3.752 1119 4.016 24.120 59.657 0.628 6.761 1957 1.245 31.*****.897 0.932 4.181 0.876 16.932 23.417 0.356 0 515 ni*l 0 I* 04 ***** 74.872 0.788 8.486 2.4561,195 words
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Article1920 2001-04-21 13 m M MS <t -> >. I TT [n <- l.ru I H f «MHPMrt»»W > »HH|I lUml Wl<|l SICOM POTOEBS RUBBER (futures closing as at 5.30pm) RSS1 cents/kg) Close Volume Opto Month Hl» Lot Sttt (tonnes) Interest May 01 103.50 Jun 01 ***** 103.25 ***** 300 500 Jul 011,920 words
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Page 13 Advertisements
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Advertisement9 2001-04-21 13 Kgggjf wHm 1 18 ly'j'if Wk Hcat&B t, I9 words
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STOCKS east asia
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Article, Illustration2848 2001-04-21 14 HONGKONG AFP j Hang Seng -100.82 HONGKONG share prices fell 0.7 per cent yesterday on selective profit-taking following the previous day's sharp gains, dealers said. The key Hang Seng Index lost 100.82 points to close at 13,448.13 on an estimated turnoverAFP - 2,848 words
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2081 2001-04-21 14 TOKYO AFP Nikkei 225 -MM TOKYO share prices fell back 0.7 per cent yesterday as investors took profits on high-tech issues, snubbing the continued rally of their US counterparts, brokers said. The Nikkei Average closed down 102.61 points at 13,765.67, reversing an 801.19-point surgeAFP - 2,081 words
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Article, Illustration1105 2001-04-21 14 AFP fj Shenzhen B Index +4M CHINA'S Shenzhen B Share Index gained 4.96 points, or 1.4 per cent, to 372.99 yesterday, paring an earlier rise. Shanghai B shares closed 0.2 per cent weaker in a technical correction as indices lost steam after hitting a series of record highs, dealersAFP; Source: Credit Lyonnsis Securities(Asia) Ltd - 1,105 words
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Article383 2001-04-21 14 AFP J WP Index -ILB7 TAIWAN share prices closed 0.2 per cent lower yesterday despite Wall Street's gains on Thursday, analysts said. The Weighted Price Index shed 11.87 points to 5,596.65, on turnover of NT584.42 billion. "The market opened higher on Wall Street's overnight rally, but buying interest soonAFP - 383 words
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Advertisement13 2001-04-21 14 1111 l§Bßijf| jpil the IlOV\/ B ajBP The Business Times H| every Monday13 words
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STOCKS klse
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Article9030 2001-04-21 15 MOUSTIULS Cmsmmt pnMt 2001 Last Vil Daw Nat Cm M«h Low Company Sato 'OOP Hl<h Law P/t $mM 340 290 Ajinomoto 290 unch 3 290 290 17 117.5 4 5 2 A5 A"H»" 28.5 1 40 32 28.5 42.0 342 282 Apollo Food Hlq 300 to 3 300 295 6.59,030 words
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Article, Illustration410 2001-04-21 15 AFP +SJI MALAYSIAN shares closed up one per cent yesterday following sustained rises in US markets, dealers said. The Kuala Lumpur Stock Exchange Composite Index ended up 5.66 points at 575.67, but off a high 0f582.69. The Second Board Index addedAFP - 410 words
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Advertisement22 2001-04-21 15 Fits the job to a tee. Will blossom in the post. fFind the right candidate, TheStraitsTimes I Call 1800 741 1883 I22 words
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SGX clob & regional stocks
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Article2487 2001-04-21 16 v *■< 'tmrnm tmm mmm BOHPS A WARRANTS Apr20 M bphf *n ImmtUm Um Mac mm Tl l Mi ««r- C0881 le» M» Prtee liiiUU 8rtle ftfce <*.( UW SS; 0.5 1 41.0 1 300 566 90.00 3 31 13 5 I "J 2.5 3 17.6 1 100 836 3.672,487 words
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Article, Illustration739 2001-04-21 16 AFP P SET Into -M> THAI stocks fell 1.8 per cent yesterday due to profit-taking in the banking sector by investors disappointed with first-quarter earnings results, analysts said. The SET Composite Index declined 5.49 points to close at 292.58 points, while the SET 50 Index was off 0.40 pointsAFP - 739 words
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Article287 2001-04-21 16 AFP y Composite Index jg PHILIPPINE stocks fell slightly as foreigners continued to sell shares, ignoring a decision by the central bank to cut key rates, analysts said. The Composite Index fell 0.33 point to 1,428.54. Turnover was 236 million shares worth 411 million pesos. Apr 20 Pwo (OOP)AFP - 287 words
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Article, Illustration741 2001-04-21 16 AFP n Composite Index -&45 INDONESIAN share prices closed 1.8 per cent down yesterday amid growing expectations that Parliament will issue a second censure motion against President Abdurrahman Wahid later this month, dealers said. The headlong fall of the rupiah yesterday added to negative sentiment towards local stocks, theyAFP - 741 words
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Article252 2001-04-21 16 AFP g«SB4O +0.72 NEW Zealand stocks closed slightly higher yesterday with gains in Telecom offsetting falls elsewhere, dealers said. The NZSE-40 Index was up 0.72 points at 2,120.39 on turnover of NZ$lO6 million. Telecom was up eight cents at NZS6.SO.—AFP *F» COOP) Advantaga HDS 0.89 0.02 379 AirN2A 1.10AFP - 252 words
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Article543 2001-04-21 16 AFP ClAllOrdmirieg -19J0 AUSTRALIAN shares closed 0.6 per cent weaker yesterday after local investors proved more cautious than their counterparts on Wall Street, brokers said. The All Ordinaries Index closed 19.9 points lower at 3,243.7 while the SP/ASX2OO fell 20.7 points to 3,303.5. The All Industrials Index fell 51.1AFP - 543 words
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Article312 2001-04-21 16 AFP fl Composite Index -IJH2 KOREAN stocks fell 1.3 per cent. The index closed down 7.02 points at 556.29. Volume came to 472 million shares worth 2.2 trillion won. —AFP 9m Anam Semi 4735 -355 Brain Tecti 645 -35 Central Bank 170 unch Chail Comm ***** 700 Da* GuAFP - 312 words
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Article7706 2001-04-21 17 SOXMAINBOARD Gr Gf M Wt JU-Wk 1MI Vo» Day Lot Quota Dk Dh TM M Cm Am High low CoiwpMy Sale r06H) HWi Uw Bayer 5e8er Cw HI $3 Mb MULTI-INDUSTRY 153 39.5 c Ac ma 50c 45 cd -0.5 52 45 44 44 4S 0.5 19.9 0.C7,706 words
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Page 17 Advertisements
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Advertisement13 2001-04-21 17 Communication Tools Just imagine life without them. Buy it. Sell It. ifid It13 words
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The Arts
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Article, Illustration998 2001-04-21 18 PARVATHI NAYAR - Auteur! Auteur! While it's always good to have a focus, it's a shame to neglect the peripheries for the centre, since the margins can be equally interesting. With the centrepiece of the Singapore International Film Festival 2001 (SIFF) being the documentary, feature films find themselves inPHOTOS BY RICHARD CHNG - 998 words
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Article, Illustration793 2001-04-21 19 PARVATHI NAYAR - AUTEUR! AUTEUR! Buddhadeb Dasgupta tells partathx nayab why creativity must never be complacent PARVATHI NAYAR PILM festivals are very important for a filmmaker, because his films are seen and written about by people not from his culture; he finds a market for his work and inspiration from the793 words
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Article, Illustration644 2001-04-21 19 SUSAN TSANG - Making movies in Sri Lanka can be a trying affair, but Bennett Rathnayake ploughs on, as stxsak tsang finds out SUSAN TSANG WHEN is truth stranger and more tortuous than fiction? When you're an independent filmmaker in Sri Lanka. Bollywood may be the most prolific film644 words
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Article611 2001-04-21 19 Susan Tsang - SINGAPORE INTERNATIONAL FILM FESTIVAL Three short stories about a woman's lot in Iran strike a chord of yearning Reports by\ Susan Tsang THE Makhmalbaf family is so packed with filmmaking talent it's frightening. Mohsen Makhmalbaf (Gabbeh) is recognised as one of Iran's and the world's611 words
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Article, Illustration544 2001-04-21 19 THE practice of picking up leftover crops after the harvesters are through has a distinguished pedigree. The Biblical character Ruth may have been the most renowned gleaner, with the unknown peasants in a painting by Jean-Francois Millet a close second. In her documentary Les544 words
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Article414 2001-04-21 19 The Ruination of Men is Arturo Ripstein's first foray into comedy. However, as the veteran Mexican director's films are all populated by losers, don't expect to roll in the aisles. In fact, this black comedy inspires claustrophobia more than anything else, with its enclosed settings,414 words
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Article, Illustration987 2001-04-21 20 CHEAH UI-HOON - Unconventional is the operative word in dance offerings at this year's Singapore Arts Festival, as cheah ui-hoon finds out CHEAH UI-HOON A FRENCH-Vietnamese production, a Korean-Indonesian fusion, a site-specific work, an all-female dance troupe and an all-male dance performance will be among those on987 words
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Article, Illustration786 2001-04-21 20 PARVATHI NAYAR - Photographer Gilles Massot displays his feel for Asia. By PARVATHI NAYAR By PARVATHI NAYAR YOU run many risks when you take art out of a gallery and hang it in a public space— but then again, you have the advantage of being in a milieu786 words
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Article, Illustration940 2001-04-21 20 Parvathi Nayar - There's a need for greater access and communication the essence of public art By\ Parvathi Nayar THE debate on public art is gaining some attention on the island, with a recent forum on "Art in Public Spaces" organised by the Goethe Institut; "Art and940 words
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Article, Illustration529 2001-04-21 22 Cheah Ui-Hoon - The Rambert company did not disappoint in its programme of artful, yet accessible modern dance By l Cheah Ui-Hoon COOL Brittania? Most certainly, for those who caught the Rambert dance company's performance of a triple bill last week, even when there was a revival of a 20-year529 words
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Article, Illustration557 2001-04-21 22 Aaron Lye - An Occasional Orchid tackled gender and ethnic stereotypes with wit and ease, but though it was good, it wasn't great By. Aaron Lye RAVE reviews from international performances can only mean high expectations for An Occasional Orchid, the latest production to come from557 words
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Article, Illustration119 2001-04-21 21 The buzz: MacBeth the Opera, as performed by the Singapore Lyric Opera as a tribute to the 100th anniversary of the death of Verdi. Plot and players: Using modern touches for settings and costumes, this production of MacBeth will feature opera singers from the UK, Philippines and Norway, and119 words
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Article601 2001-04-21 21 Aaron Lye - Compiled by Aaron Lye MUSIC Mother Earth Concert: Music for Nature Featuring a number of local talents including Annabelle Francis, Shayn Phua and local band Stoned Revivals, this concert of soothing beautiful music commemorates Earth Day. Apr 22,5pm-6.30pm, Botanic Gardens, Shaw Foundation Symphony Stage. Admission is free. PERFORMANCES601 words
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Art beat
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Article, Illustration162 2001-04-21 21 rM w fFVin IN an effort to bring the arts closer to the people, the National Arts Council (NAC) is taking concerts straight to the workplace. In partnership with the NTUC Club, the NAC is lunch-time concert performances, collectively titled Lunch 'N Arts, at several offices around162 words
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Article103 2001-04-21 21 Having hit the workplace, the NAC is heading for the schools. Titled Scrappy Power!, this touring exhibition will feature a somewhat different artform—the notations and preparatory sketches from artist sketchbooks and scrapbooks. In total, over 220 pieces of art will be on display, and are mostly comprised103 words
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Article211 2001-04-21 21 It's certainly not an easy job to run a museum, but for the Asian Civilisations Museum in particular, that job's just become a little bit easier—with a $100,000 donation, the largest single cash donation by a private individual ever. The donor, Hwang Soo Jin, is a long-time supporter211 words
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Article173 2001-04-21 21 IF you're visiting Venice between June 11 and Nov 4 this year, do drop by the Singapore Pavilion at Schola Sant Apollonia, Ponte Delia Canonica (behind St Mark's Square) as part of the Venice Biennale one of the oldest and most important international art festivals173 words
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Page 21 Miscellaneous
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Miscellaneous642 2001-04-21 21 Rids Central U*o Jacked m B*o LOO Sines. Wiggles. 1200 5!5L VHI Pop Up Vi -MS Jagub Ayer Gemeroh. ua infertility, Untouches Rugrats. VAM am poltergeist SJo able (R). o*o Robbie And The Book 2*o What A C World CfeUMl MmnUM!* 2.00 Headline Graphics. of Tales. 3.00 Taste New Zealand.642 words
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Miscellaneous320 2001-04-21 21 CRKPWC CROSSWORD mm U m y y y y y r~ -n n n n H ACROSS 4 Foolish to use condiments in 1 Seaman shows contempt for high summer (5, 6) hard hat (8) 6 Nonconformist holds occasional 5 A moron returned with hospital dance... (7) sponge (6) 7320 words
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New Asia Biz Woman
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Article, Illustration1167 2001-04-21 22 AARON LYE - Janice Koh is arts administrator by day, actress by night. AARON LYE finds out how she juggles the two roles AARON LYE CERTAINLY it isn't unheard of for a person to juggle two jobs at a time, but when both those jobs haveRICHARD CHNG - 1,167 words
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