The Business Times, 2 June 2001

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Total Pages: 20
1 20 The Business Times
  • 18 1 THE BUSINESS TIMES MITA (P) 107/03/2001 SINGAPORE lnte« "»e t h ttD://bnsiness-times.asial .com.sg/ SATURDAY, JUNE 2, 2001 850
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  • 80 1 sn 1,649.78 (-7.27) BT-SRI MBL2S (-3.32) ST INDEX FUTURES 1,6384)0 (-1.00) SMSCX FUTURES 203JQ (-0.10) STOCK MARKET INDICES Friday Change KLSE COMP 572.88 +120 NIKKEI 226 -0.30 HANG SENG 13,141 J8 -33.03 SET INDEX 312.06 +1.93 JAKARTA COMP 396.51 -9.35 MANILA COMP —1,416.09 +13.80 TAIPEI WPI 5,1)13.96 44.90
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  • 81 1 POKES BATES us$ ss USS (SS per USS) 1.810 I(USS/SS per 1.419 ***** EURO(USS/SS/E) 0.847 ***** DM 1308 ***** YEN 118.8 66.60 RM 3.800 2.100 HKS 7.800 4310 BAHT 45.46 26.12 RUPIAH 11,283 6,236 *S$ to KM) units PRIME BATES SINGAPORE* 5.80 Kl'ALA LUMPUR 7.67 JAKARTA J9.0A BANGKOK .9.80
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  • 800 1  -  Bnt Mahathir yet to decide if he will accept Daim's resignation From Eddie Toh in Kuala Lumpur MALAYSLAN Finance Minister Daim Zainuddin has finally sent in his resignation, ending months of intense speculation as well as closing a chapter in his long-standing
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  • 701 1  -  By 1 Vikram Khanna [SINGAPORE] Had certain reforms within the IMF been in place five years ago, the Asian crisis would probably have been less severe and better handled, the IMF's First Deputy Managing Director Stanley Fischer said yesterday. He was delivering
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  • 221 1 [SINGAPORE] Caltex has pumped new sophistication into the petrol price war along Bukit Timah Road it is offering a floating rate discount that is "1% more off' than that given by Singapore Petroleum Co. With all the other players Esso, Mobil, Shell
    RICHARD CHNG  -  221 words
  • 649 1  -  Choice of chief security minister seen as move to cozy np to Megawati From Shoeb Kagda in Jakarta Indonesia's beleaguered President Abdurrahman Wahid yesterday reshuffled his Cabinet for a third time in 19 months in a last-ditch attempt to repair
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  • 675 1  -  Maybank, HSBC, Amex mostly likely bidders, having failed the last time By, Angela Tan [SINGAPORE] With the Monetary Authority of Singapore expected soon to invite applications from foreign banks for two new qualifying full bank (QFB) licences, it looks like the potential
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    • ON THE grapevine
      • 82 2 BE prepared for the unexpected, even in a 5-star hotel. Take the press conference hosted by listed electronics contract manufacturer Beyonics Technology yesterday afternoon in the glitzy Westin Stamford Westin Plaza hotel. Though Beyonics booked a conference room for the event, the bosses had to make their
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      • 110 2 IN case you're wondering where your kind donations to charity are going, the Inland Revenue Authority of Singapore has revised the rules for bodies which enjoy tax-exempt status for their charity work. To qualify for exemption, these bodies now have to spend no less than
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    • 607 2 New stat board eyes innovative ways to unlock fall value of assets managed [SINGAPORE] The Singapore Land Authority (SLA), a new statutory board, will seek greater private-sector participation to find "innovative ways to unlock the full value of the assets" it is
      GEORGE GASCON/ST  -  607 words
    • 290 2  -  It's keen to complete review and resume funding, he says By < Vikram Khanna [SINGAPORE] The IMF "has not walked out of Indonesia" and is committed to continuing working with the government in Jakarta to ensure that the stalled reforms there are
      RICHARD CHNG  -  290 words
    • 382 2 Only then will easy monetary policy succeed Reuters [WASHINGTON] Japan must get rid of the bad loans burdening its financial sector, and this is necessary for Japan's easy monetary policy to succeed. Federal Reserve chairman Alan Greenspan was quoted as telling top Japanese
      Reuters  -  382 words
    • 429 2 She cites three obstacles: international landing rights pacts, competition concerns, and NZ tourism marketing efforts Reuters [WELLINGTON] New Zealand Prime Minister Helen Clark poured cold water yesterday on Qantas Airways' bid to buy an equity stake in national carrier Air New
      Reuters  -  429 words
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  • 5140 3 -J" 1 earn IK MACEngg 26-Mar P 1(61 2.576 2-83 2 6 Date TY LV TV LV Mayfran 22Mer P 13 0.234 0.62 0.17 Cem»any ann (Sm) ($w> left) (ct«) MCL Land 21-Feb P 25 989 33 818 7 9.2 MPH Ltd I1-May P 17.649 16.187
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  • SINGAPORE companies
    • 453 3  -  Beyonics to boy Batam plant; Seagate buys PCB components in return By\ David Boey BEYONICS Technology has beaten about 10 other electronics contract manufacturers to clinch a deal with US hard-drive maker Seagate Technology that will more than double Beyonics' turnover in FY2002. Under
      CHRIS LOH  -  453 words
    • 763 3  -  lock siew wong wei kong UNNECESSARILY lengthy trading suspensions and the high frequency of material disclosures prompted by stock exchange queries suggest that listed companies here are still not managing the flow of price-sen-sitive information well. Trading suspensions, at best, should be regarded as a
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    • 376 3  -  JP Morgan sees STI at 1,935 by year-end, with spnrt in Q4 By Angela Tan SINGAPORE is one of the best-value stock markets in Asia Pacific, with banks and conglomerates among the top picks, US investment bank JP Morgan says in its latest market
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    • 587 5  -  Poll for their re-election or replacement postponed to Ang3l By\ Serena Ng LOSS-MAKING Inno-Pacific Holdings yesterday said that the four directors that some minority shareholders had sought to replace had retired at the close of its annual general meeting on Thursday night.
      FILE PHOTO  -  587 words
    • 380 5  -  She led minority shareholders in defeating resolutions at company's A6M By\ Serena Ng INNO-PACIFIC shareholder Quah Su-Ling, who led a group of minority shareholders to defeat or delay several resolutions at the investment holding company's marathon annual general meeting on Thursday, said yesterday
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    • COMPANY Briefs
      • 70 5 TRANSMARCO returned to black for the year ended March 31 with a net profit of $3.7 million, after a $32.3 million loss a year earlier. Turnover slipped 4 per cent to $96.3 million. Earnings per share came in at 9 cents, compared with a loss per
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      • 52 5 BRILLIANT Manufacturing said yesterday its interim profit surged 141 per cent to $2.9 million. Turnover for the six months ended March rose 25 per cent to $34.5 million. Net tangible assets per share eased to 25.75 cents, from 26 cents a year earlier. No dividend
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      • 77 5 HAI Sun Hup said yesterday that net profit for the year ended March 31 fell 35 per cent to $26 million, while turnover slipped 6 per cent to $405 million. Earnings per share fell to 3 cents from 4.6 cents, while net tangible assets
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      • 73 5 SINGAPORE Shipping Corporation yesterday posted a 48 per cent jump in net profit to $18.3 million for the year ended March, on a 9 per cent rise in turnover to $275.4 million. Earnings per share rose to 4.2 cents from 2.8 cents, while net
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      • 74 5 TUAN Sing Holdings and its main subsidiary Gul Technologies said yesterday their earnings will be hit by the slowdown in the US economy and a drop in global electronics sales. Tuan Sing said also that because of the weak Singapore property and construction sectors,
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      • 65 5 SINGAPORE Technologies Engineering says its wholly owned subsidiary Singapore Technologies Electronics (ST Elect), with Alstom Transport of France and Alstom Transport (S), has secured an option to supply electrical and mechanical systems for stage two of the Circle Line rail network. The value of
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    • 144 5 HOMEGROWN dotcom Aretae has reportedly asked several top managers to leave and is said to be re-examining its business strategy. Aretae, which is about five years old, provides consulting, Internet business solutions and application hosting services. It also designs and builds websites for companies.
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    • 262 5 He pays close to all-time low in first open market foray Bloomberg SINGAPORE Telecommunications chief executive Lee Hsien Yang bought shares in his company from the open market for the first time after the stock fell to an all-time low two days ago. Sing Tel
      Bloomberg; FILE PHOTO  -  262 words

  • SINGAPORE markets
    • 325 4 Stocks Volume Zhong 34,276,000 Beyonics 10c 17,099,000 SingTel 15c 14,643,000 People's Food HGK 50c 13,864,000 LionAsiapac25c 12.304.000 AddvalTech 2.5c 11,449,000 Noreteo5c 10,056,000 Autron 9,772.000 NOL 9,126,000 UniFood HK25C 7,236,000 Stock* Tianjin Zhong 49,295,901 DBSGrp 28,564,968 SingTel 15c 24,988.660 VentureMfg25c 23,576,662 SIA 22,560,694 Datacraft 10c 18,917,147 SPH 16,061,328 NOL 14,766,050 Chart
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    • 607 4  -  nrr comment STOCKS r. sivanithy WITH most blue-chip investors preferring to wait for signals from the US on what to do next, it was left to secondliners to hold the fort in the local stock market yesterday. China plays
      607 words
    • 179 4  -  WARRANT WATCH liy\ R Sivanithy THE property and construction sectors are down in the dumps and this is wellreflected in share prices. In the construction segment, Koh Brothers, a small and moderately profitable company, has warrants in issue which now sell for just
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    • 224 4  -  HOT STOCK Ven Sreenivasan ~alsout a month ago, this column highlighted the upside prospects for the stock of monitor maker TPV Technology. And since then, the counter has almost doubled to as high as 41.5 cents early this week. But 41 cents proved to
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    • 531 4  -  =ii comment CURRENCIES But vital supports hold ahead of data release euro at 84.40-60 US cents and greenback at 118.40-60 yen larry wee THERE was no respite for the euro and the US dollar versus the Japanese yen in
      Source: Reuters  -  531 words
  • 3272 4 UNIT TRUSTS FUNDS Abtrdean Asset Mgt Asia Ltd Aberdeen Select Portfolio: Global MNCFd 0.76< 0.803 Global Technology Fd!** 0.670 0 705 UK Blue Chip Fd!** 0 780 0.820 American Opport Fd 0.861 0.905 Cont Euro Eqty Fd!** 1 062 1.116 Japan Eqty Fd!** 1.243 1 306 Asian Fixed Income Fd
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  • SINGAPORE news
    • 290 6  -  However, no job losses expected at its S'pore wafer plants By\ David Boey STMICROELECTRONICS, a semiconductor giant that runs two wafer foundries in Ang Mo Kio, said it will slash its capital expenditure for 2001 by more than 21 per cent in response
      290 words
    • 321 6  -  on the economy office rents By Marissa Chew GRADE a office rents dipped 0.3 per cent in May for the second straight month, the first two consecutive months of decline since October 1999, says corporate real estate specialist Cushman Wakefield in a monthly report. The
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    • 58 6 IN the May 31 article "Member issues demand letters", we reported senior counsel Engelin Teh of Engelin Teh Partners as saying that she would represent Commercial Solutions Consultants, one of the parties seeking to take class action against Raffles Town Club and/or the banks involved. Ms Teh has clarified
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    • 450 6  -  This most be part of free trade agreement, says visiting AnssieA-G Byi Conrad Raj SINGAPORE must provide greater access to Australia's legal practitioners if the two countries are to have a free trade agreement, according to Australian Attorney-Gen-eral Darryl Williams. "From an
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    • 409 6  -  It's also keen on ATM tie-np; bnt QFBisnot on its agenda By 1 Rachel Ong THE Bank of India is expected to launch Internet banking in Singapore by year-end and possibly tie up with local banks for ATM services. This was revealed by the
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    • 214 6 LIEW Heng San, Permanent Secretary for the Ministry of Law, chairs the Singapore Land Authority's (SLA's) 10member board, whose prominent members are drawn from the banking, legal, architectural and other sectors. The two bankers on the board are Sunil Sreenivasan, Citibank Singapore's country manager, and Greg
      GEORGE GASCON/ST  -  214 words
  • MAIL bag
    • 336 6  -  ALA Co Ltd Corporate Communications Department WE refer to the letter "Prudent to compare investment product fees" by Isaac Kelvin Tan Lee Thong (Mailbag. May 29). AIA would like to correct the misconception Mr Tan has regarding our AIA Global Balanced Fund, which can
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    • 110 6  -  Patrick Tan Boh Liang Singapore RECENTLY there has been a lot of comment in the press regarding high petrol prices in Singapore. The Consumers Association of Singapore, for example, has called for a 20 per cent reduction in pump
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    • 291 6  -  Narayana Narayana Singapore I REFER to the rejoinder from your writers to my letter "Better to return surplus funds to shareholders" (Mailbag, May 24). I hope you will be able to spare some space for me again. I hope I will not be thought
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    • 172 6  -  Seow Eng Ghee Singapore I REFER to the letter "Lower deposit will lead to higher prices" by Ang Meng Hua (Mailbag, May 15). I understand the simple theory of demand and supply. Property demand, as well as prices, will surge if the government relaxes the 20
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    • 136 6  -  Patrick Lim Siong Siang Singapore CURRENTLY, there's a 100 per cent capitalprotected fund being launched with different pricings, depending on where it's purchased. If it's taken up through the banks, the sales charge is 3.25 oer cent but there will be a discount for
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    • 82 6  -  Leong Sew Wah Singapore IT is encouraging to see that members of the Raffles Town Club are seeking redress of their grievances through collective legal suits. However, it would carry more weight if the members can be united in just one group
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    • 67 6 We welcome letters. E-mail us at btletterQsph.com.sg or fax us at *****71, or write to: The Business Times, Times House, 390 Kim Seng Road, Singapore *****5. We need your full name, address and telephone number, so we can verify it came from you. Please use temperate language, and bear in
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  • MOTORING
    • 541 7  -  CHRISTOPHER TAN previews the SC43O, the first sports car to be unveiled by Lexus in a decade CHRISTOPHER TAN THE Lexus SC43O, the world's first 2+2-seater with a retractable hardtop, has landed and will be launched in the next few weeks. Already, 15 people have
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    • BUMPER to BUMPER
      • 96 7 A COE speculator has advertised five Category E certificates for sale at $27,048 each the same price as the last tender's premium. This indicates two things: he is holding soon-expiring certificates and needs to sell them fast, or he reckons the markets
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      • 97 7 CCP ADSHEL—a venture between Capital City Posters and Clear Channel Pacific —has been awarded a $232.4 million, 15-year contract to design, build and operate 27,000 bus and taxi shelters. Announcing the award yesterday, the Land Transport Authority said it will pay for utility connections at
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      • 102 7 PORSCHE will launch a revamped 911 series in September. The mid-life facelift goes beyond a cosmetic nip-and-tuck. The main change is in the heart. Capacity goes from 3.4-litre to 3.6-litre, giving the cars access to 320 horses and a top speed of2Bskmh. Zero-to-lOOkmh sprints in the
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      • 72 7 OPEL will add curtain airbags to its Corsa later this year, making it the first small car to have this feature pioneered by Volvo. Opel Astras and Zafiras, as well as other models, will be equipped with this side-impact protection later on. The new airbag
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      • 95 7  -  Compiled by Christopher Tan JASERI Auto Sdn Bhd has been appointed importer of Saabs and Porsches in Malaysia. It has also applied to be importer for MG Rover products. Jaseri is a newly set-up company headed by Radziwill Mohamed and Nadzrin Manan. The former
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    • 214 7  -  Jerry Loo, Singapore, via Internet I DRIVE a BMW 318 i which I bought last July. I have questions on the use of the air-conditioner and the transmission. The sales representative told me that for today's BMWs, I can leave the air-conditioner on all
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    • 833 7  -  GEOFFREY EU pays homage at a French museum housing some gems, including rare vintage Bugattis GEOFFREY EU The writer is a freelance contributor to BT DEEP in the heart of Alsace, the French industrial town of Mulhouse is a hub for motoring enthusiasts who come
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    • 104 7  -  Alan Tan Y S Singapore, via Internet I REFER to the article "Govt 'not against' diesel cars" (Motoring, April 18). If Acting Environment Minister Lim Swee Say is so concerned about diesel pollution, I would suggest he institute some form of spot check on all taxis,
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    • 275 7  -  Narayana Narayana Singapore, via Internet I REFER to the article "NTUC and Case protest against planned bus and train fare hike" by Christopher Tan (BT, May 31). I support the National Trades Union Congress and the Consumers Association of Singapore in protesting strongly against any
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  • Page 7 Advertisements
    • 10 7 This letter wins $100 worth of Stamford Tyres vouchers. STamFQßDrnes
      10 words
    • 81 7 If you have something $100 worth of motor-related to get off vouchers. Prizes are your chest, write to us. XA/hpPI sponsored by We welcome feedback STAMFORD TYRES, and suggestions from Dytneps Singapore s only readers. listed tyre and auto The AUTOMOBILE services group. ASSOCIATION OF You can fax us on
      81 words

  • FOCUS Suzhou
    • 1162 8  -  Putting the past behind them, the Chinese and Singapore partners of the showpiece project are working together, reports LOH bdi yw, who visited the park recently LOH HUI YIN Harmony is the name of a huge sculpture that Senior Minister Lee Kuan Yew will
      STEVEN LEE/ST; Source: Suzhau Industrial Park Investment Guide; STEVEN LEE ST  -  1,162 words
    • 619 8  -  By Loh Hui Yin WHEN Suzhou Vice-Mayor Wang Jinhua found out that the group of Singapore journalists had not got round to visiting his city's famed gardens, he quickly set about rearranging their itinerary to fit in a whistle-stop tour. "Tell the park officials
      STEVEN LEE ST  -  619 words
  • Page 8 Advertisements
    • 473 8 CSA HOLDINGS LTD (Incorporated in Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Company will be held at 221 Henderson Road. #08-01 Henderson Building. Singapore *****7 on 28th June. 2001. at 11.00 a.m. for the purpose of considering and. if thought
      473 words

  • REGIONAL news
    • 550 9 BANGKOK Govt says policy won't change but analysts expect central bank to pnsh up deposit rates Reuters THAILAND'S finance minister yesterday said that the sacking of central bank governor Chatu Mongol Sonakul did not signal changes in fiscal or monetary policy,
      Reuters  -  550 words
    • NOTE Book
      • 75 9 Reuters [JAKARTA] Indonesia's annual inflation rate crept higher in May and the statistics bureau yesterday warned the level would stay at double digits if the political crisis continued. The bureau put year-on-year inflation for May at 10.82 per cent compared with 10.51 per cent in
        Reuters  -  75 words
      • 78 9 Bloomberg [JAKARTA] Indonesia's government will propose an average increase of 17.5 per cent in electricity prices, or 2.5 percentage points less than planned, state utility PT Perusahaan Listrik Negara said. This week PLN and the government proposed a 20 per cent increase by
        Bloomberg  -  78 words
      • 86 9 Reuters [BANGKOK] Thai Prime Minister Thaksin Shinawatra, fighting graft charges in the Constitutional Court, yesterday said the 14-judge panel should take political considerations into account when making its ruling. Mr Thaksin won elections in January despite an indictment by the National Counter Corruption Commission for
        Reuters  -  86 words
      • 56 9 Reuters [KUALA LUMPUR] Malaysia's state oil company Petronas yesterday said it would introduce its natural gas-powered Enviro 2000 cars to Thailand. Petronas said it had signed a three-year pact with Petroleum Authority of Thailand to introduce the five-seat cars, designed by Petronas and
        Reuters  -  56 words
      • 62 9 AFP [JAKARTA] Indonesia's Parliament wants the government to drop a proposed increase in value added tax. one of several proposed price rises aimed at plugging the Budget deficit, the Jakarta Post said yesterday. The house commission on budget and finance issued a statement asking the
        AFP  -  62 words
    • 1082 9  -  WRITER'S JOURNAL karim raslan EVERY morning without fail I switch on my computer and check the Internet for news. This might seem innocuous, but is, in fact, detrimental to national unity. In essence, my action constitutes a rejection of mainstream Malaysia: I am opting out. And since
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    • 43 9 [HONG KONG] Schoolchildren signing a mock football here yesterday to show their disapproval of soccer betting. Various educational and social organisations held a protest as the territory considers legalising soccer betting, which has become wildly popular in recent years. REITERS
      REITERS  -  43 words
    • 326 9 KUALA LUMPUR Thanks to producers' cutback in raw material imports Bloomberg MALAYSIA'S trade surplus widened unexpectedly in April as an economic slowdown prompted producers to curtail imports of components and raw materials. The surplus widened 35 per cent to RM4.6 billion (552.2 billion)
      Bloomberg  -  326 words
    • 265 9 JAKARTA Delay in sale of plantations to Gnthrie an exception AFP INDONESIA'S bank restructuring agency (Ibra) has vowed there would be no more reviews of asset sales, following a review that held up the sale of oil palm plantations to a Malaysian company, a
      AFP  -  265 words
    • 513 9 MANILA AFP, Bloomberg MOVING to crush a persistent kidnapping scourge, Philippine President Gloria Arroyo is striking hard at the culprits in a reversal of the kids-glove treatment by her predecessor. After a five-day hunt, the military yesterday managed to track
      AFP,; Bloomberg; AP  -  513 words

  • REGION world
    • 955 10 HONGKONG Market deregulation and low loan demand pushing takeover process, say bankers Bloomberg CITIC Ka Wah Bank Ltd, Fortis Bank and other lenders are moving to buy Hong Kong rivals, as increasing competition drives some of the city's banking families out of the
      Bloomberg; AFP  -  955 words
    • 388 10 HONGKONG Reuters THE Hong Kong Monetary Authority yesterday said it may be prepared to relax capital adequacy requirements for banks in takeover situations to encourage consolidation in the sector. "We may be prepared to relax our capital requirements for an acquiring bank
      Reuters  -  388 words
    • 695 10  -  They may drive borrowers to less well-regulated markets, warns UF Fronn Anthony Rowley in Hong Kong PROPOSED new international regulations on bank capital designed to help prevent a recurrence of the kind of financial crises that struck in Asia and elsewhere in
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    • 452 10  -  From\ Harish Mehta in Bangkok THE historic Jim Thompson House, a museum named after the American founder of The Thai Silk Company, and his silk weavers have finally won their long struggle to prevent the construction of an expressway that would slice
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    • 557 10 HONGKONG Greater China most favoured fond location; Ase&n and India left ont Reuters ASIA'S north-south investment divide is set to widen in the second half of the year, with regional fund managers also dipping their toes back into the US equity markets despite increased
      Reuters; AFP  -  557 words
    • ASIA Notes
      • 47 10 Reuters [NEW YORK] Fitch revised India's sovereign rating outlook to negative from stable on Thursday, citing worries over fiscal policy, privatisation and deterioration in foreign investment climate. Fitch now rates India's foreign and local currency obligations at 88-plus and 888-minus respectively. Reuters
        Reuters  -  47 words
      • 82 10 Reuters [HONG KONG] Former Hong Kong legislator Gary Cheng, charged with allegedly accepting a bribe and misconduct in office, made a brief appearance in court yesterday where a hearing was set for June 8. Mr Cheng faces five charges including one of accepting HK$6O.OOO
        Reuters  -  82 words
      • 58 10 Reuters [BEIJING] China has accelerated payment of tax rebates to help bolster exports this year as the global economy slows, state media reported yesterday. "Export tax rebates are always a very important policy for encouraging expansion in exports," the Economic Information Daily quoted deputy
        Reuters  -  58 words
      • 71 10 AFP [HONG KONG] HSBC Group chairman John Bond apologised to the bank's customers yesterday, a day after a computer crash halted business at Hong Kong branches. All 350 HSBC branches and affiliate Hang Seng Bank were shut for nearly two hours on Thursday,
        AFP  -  71 words

  • WORLD news
    • 565 11 WASHINGTON May jobless rate down to 4.4%; bnt NAPM index shows manufacturing activity declined Reuters AP THE US job market held up better than expected in May, as the unemployment rate fell for the first time in eight months, the government
      Reuters; AP  -  565 words
    • WORLD Watch
      • 110 11 Bloomberg [BRUSSELS] Retail sales in the dozen countries using the euro unexpectedly fell in March, with rising energy prices cancelling out the effect of tax cuts in the region's largest economies. Retailers sold 0.4 per cent less compared with February, the European Union
        Bloomberg  -  110 words
      • 64 11 Reuters [SEOUL] South Korea posted a preliminary U552,077 billion trade surplus in May, more than doubling April's US$9BB million, as shrinking imports far outweighed a fall in exports, a customs official said yesterday. Sagging overseas demand not only takes a direct toll on exports
        Reuters  -  64 words
      • 103 11 Reuters [WASHINGTON] The Bush administration, blasted by Democratic lawmakers for not getting tough with Opec, said on Thursday it wants to see lower crude oil prices and is having "quiet, diplomatic conversations" with cartel members. US House Democratic lawmakers on Wednesday urged Mr
        Reuters  -  103 words
      • 107 11 Reuters [TOKYO] Japanese Prime Minister Junichiro Koizumi yesterday moved to soothe a bitter feud between his outspoken Foreign Minister Makiko Tanaka and bureaucrats that has threatened to upset delicate diplomacy and perhaps undermine his popularity. In talks at his official residence, Mr Koizumi told
        Reuters  -  107 words
      • 123 11 Bloomberg [LONDON] British Telecommunications is in talks to sell its 26 per cent of Cegetel SA, which analysts estimate is worth as much as US$4.3 billion, to another investor in France's No 2 phone company as the UK company cuts debt. Vivendi Universal,
        Bloomberg  -  123 words
      • 60 11 Bloomberg [MUNICH] Dresdner Bank, the No 3 German bank, sees 2001 net income, not pretax profit, ofB2o million euros (551.25 billion), a spokesman said, correcting comments by chief executive Bernd Fahrholz on Thursday. "There was a misunderstanding," Dresdner spokesman Torsten Albig said in a telephone interview.
        Bloomberg  -  60 words
      • 75 11 Bloomberg [SEOUL] Daewoo Motor Co's union sent a delegation to the US with a mandate to block General Motors Corp from buying the bankrupt Korean carmaker, a move that may affect talks between the largest automaker and Daewoo creditors. The five-member delegation
        Bloomberg  -  75 words
    • 465 11 FRANKFURT Move intensifies 24-hour trading competition FT, Reuters DEUTSCHE Boerse took another step on Thursday towards becoming a global equities marketplace by teaming up with US partners to offer trading in 200 US blue-chip stocks. The exchange aims to attract institutional investors
      FT,; Reuters; AFP  -  465 words
    • 332 11 NEW YORK NYT XEROX Corp, whose auditors had refused to sign off on its annual report until they had rechecked the numbers, said on Thursday that KPMG found some accounting discrepancies but uncovered no signs of fraud. The timing was fortunate. Many of Xerox's
      NYT  -  332 words
    • 451 11 LONDON Bloomberg FT, ANDERSEN, one of the "Big Five" professional services firms, is facing the threat of legal action over the collapse this year of HIH, the Australian insurer. Lawyers acting for HIH shareholders and policyholders said on Thursday that they were
      Bloomberg; FT,  -  451 words
    • 464 11 TOKYO Reuters BRIDGESTONE Corp yesterday fired the latest salvo in its bitter dispute with Ford Motor Co, saying the Ford Explorer had defects in its design and tyre changes would not solve its safety problems. Bridgestone's troubled US unit Firestone and Ford have been
      Reuters; AFP  -  464 words
    • 460 11 MEXICO CITY NYT CARLOS Hank Rhon, one of the richest and most politically connected businessmen in Mexico, will pay a US$4O million fine to settle charges that he violated banking laws when he bought Laredo National Bancshares in Texas, the Federal Reserve Board said
      NYT  -  460 words

  • e-News
    • 622 12 AMSTERDAM Dutch telco's 3G foray forces it to launch Europe's second biggest rights issue FT. Bloomberg KPN, the partially state-owned Dutch telephone operator, is preparing Europe's second largest rights issue to rescue it from debts that threaten to swallow almost all its available
      FT.; Bloomberg  -  622 words
    • 400 12 SYDNEY Move could put plans to restructure One.Tel at risk Bloomberg, Reuters CABLE Wireless Optus Ltd will cut access to its network for customers of insolvent One.Tel Ltd and try to recruit those customers, allowing them to continue using their phone numbers.
      Bloomberg,; Reuters; AFP  -  400 words
    • 388 12 MURRAY HILL, New Jersey Bloomberg, FT PIRELLI SpA and Alcatel SA, two European makers of telecommunications equipment, each bids more than US$4 billion for Lucent Technologies Inc's optical fibre and cable unit, people familiar with the companies said. Money-losing Lucent put the
      Bloomberg,; FT  -  388 words
    • e Briefs
      • 103 12 Reuters [NEW YORK] Deutsche Telekom on Thursday completed its acquisitions of Voice Stream Wireless Corp and Powertel Inc. giving the German telecommunications giant its first big US presence. Voice Stream has said the deal with Deutsche Telekom would aid its expansion in existing and new
        Reuters  -  103 words
      • 96 12 FT [NEW YORK] CSFBdireet, the eighth largest US online broker, is to lay off workers for the second time this year in another indication of the severity of the downturn in online trading following the slide in equity markets. On Thursday it said
        FT  -  96 words
      • 122 12 Reuters [PALO ALTO, California] Yahoo Inc on Thursday said its decision to add fees to its popular auction service has proven a clear success, though it has lost a lot of traffic as a result. The company said that in the five months since
        Reuters  -  122 words
    • 462 12 NEW DELHI Online service provider Data Access to target just 4 Indian cities Bloomberg HONG KONG-BASED Pacific Century CyberWorks, which has a heavy debt load, is scaling down investment plans for India. Data Access (India) Ltd, an online service provider that Richard
      Bloomberg  -  462 words
    • 419 12 WASHINGTON Bloomberg DELL Computer Corp founder and chairman Michael Dell realised almost US$l99 million in paper gains by exercising options during the company's fiscal 2001 when stock in the world's biggest personal computer maker lost 35 per cent of its value. The 36-year-old Mr
      Bloomberg  -  419 words
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    • 412 12 NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298 IN THE MATTER OF THE COMPANIES ACT CAP. 50 AND IN THE MATTER OF ■lALWORTH DEVELOPMENT PTE LTD (In Memben' Voluntary Liquidation) Al an Extraordinary General Meeting ol the obovenamed Company duly convened ond held at 2 Havelock Road.
      412 words
    • 391 12 4 IN THE MATTER OF THE 1 I COMPANIES ACT. CHAPTERS! j and j IN THE MATTER OF J GOLDEN STAR TVR (S) PTE LTD OMwaum i> Tiff imiuc or sm,ato»ii J (IN LIQUIDATION I J jj (MEMBERS' VOLUNTARY WINDING-IT) j 5 At an Extraordinary General Meeting of the 1
      391 words
    • 346 12 I IN THE MATTER OF THE j COMPANIES ACT. CHAPTER SI and IN THE MATTER Of CLASS ONE MOVIES PTE LTD J rvfowotAraiPiTTff imiuc i»siy,Aro«Ei J (IN LIQUIDATION) (MEMBERS' VOLUNTARY WIMXNG-IT) j 4 At as Extraordinary General Meeting of the J abovenamed Company duly convened and held at No 9
      346 words
    • 329 12 IN THE MATTER OF THE COMPANIES ACT CAP. SO AND IN THE MATTE* Of MASS DEVELOPMENT PTI LTD (In Members Voluntary Liquidation) At on Extraordinary General Meeting of ihe obovenamed Company duly convened and held aI 2 Havelock Rood #06-08 Apollo Centre Singapore *****3 on 28 May 2001, the Mowing
      329 words

  • FINANCE & commodities
    • 267 13  -  SGX Derivatives Trading Report ST lnde*/MS& SPpore Index Daniel Wong Refco Singapore Pte Ltd SINGAPORE stocks moved down yesterday. The benchmark Straits Times Index fell 7.27 points, or 0.4 per cent, to settle at 1,649.78 points as 10 counters rose, 30 declined and 12 stocks
      267 words
    • 241 13  -  MSCI Taiwan Index Daniel Wong Refco Singapore Pte Ltd TAIWAN stocks moved down again yesterday as the investment climate remained bearish. The MSCI Taiwan Stock Index dipped 1.02 points, or 0.44 per cent, to end at 231.29. The index turnover fell to 386.66 million, with
      241 words
    • 253 13 Reuters London THE euro dipped below 100 yen for the first time in five months yesterday, as the yen extended broad gains which began in Asia after Japan's Finance Minister said recent currency moves did not warrant intervention. The comments by Masajuro Shiokawa also pressured the US dollar
      Reuters  -  253 words
    • Article, Illustration
      1296 13 Mi-seres Short 1 -3yre Long >3yn DfTERBANK CROSS RATES J an I turo Ffr Pro HK$ Ind Ruptah Yen Wow m NZ$ Pit Ks Peso S$ Band Sfr )TTS Etftt Pfril US$ Australia 0.777 4.199 0.597 3.916 1.168 3.946 23.797 57.064 0.601 6.512 1.923 1.237 ***** 25 679 0 916
      1,296 words
    • 1868 13 sicoMwrruRBg hml RUBBER (futures dosmq as at 5.309m) RSS1 CONTRACT(S ccnts/kq) ClOM Volume Open Month High Low Sett (torn*) Interest Jul 01 114.25 250 Aug 01 1M.50 250 Sep 01 116.00 250 Oct/Dec 01 117.75 RSS 3 CONTRACT (US cents/kg) Volume Open Month High L®» Sttt (tonnes) Interest Jul 01
      1,868 words
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  • STOCKS east asia
    • 2909 14 HONGKONG AFP dHMigSepg -33.03 HONG KONG shares yesterday fell 0.3 per cent after early gains could not be sustained. The key Hang Seng Index lost 33.03 points to close at 13,141.38 on a turnover of HK510.33 billion. "The declines in the
      AFP  -  2,909 words
    • 1247 14 Reuters Q Shenzhen B Index -1535 CHINA'S hard currency B shares closed lower yesterday as some institutions cashed out, but locals lined up to transfer more bank deposits into trading accounts, confident that fresh liquidity would push prices up again. China dropped yesterday a ban on buying stocks with
      Reuters  -  1,247 words
    • 393 14 AFP □WP Index -34J0 TAIWAN share prices closed 0.7 per cent lower yesterday in lacklustre trade as investors withdrew to the sidelines, analysts said. The Taiwan Weighted Price Index shed 34.90 points to 5,013.96 on a turnover of NTJ36.77 billion. Losers led gainers 345 to 142, with 101 issues
      AFP  -  393 words
    • 2114 14 TOKYO Reuters Q Nikkei 22S -030 TOKYO stocks closed flat yesterday after a firmer yen dealt a blow to Mazda Motor and other car companies, cancelling out Nasdaq-inspired gains in major technology issues. The yen's rise has made it hard to anticipate
      Reuters  -  2,114 words
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  • SGX clob & regional stocks
    • 2593 15 BOMBS WARRANTS m Wnti M l**y U1M L"' <W Dey III! H M Cae. U» BM Mta *0 La. Ctmtmy im 000) M# La. Wy« Mto I»hi M» hta mi «—**2 UN 37 0.5 s Acme W*****4 0.5 0.5 1 41.0 1 300 691 76.00 1 15 2.5 s AIITech
      2,593 words
    • Article, Illustration
      735 15 Reuters 3 SET Index +L 93 THAI stocks closed 0.62 per cent firmer yesterday. The benchmark Stock Exchange of Thailand (SET) Index closed up 1.93 points at 312.06, after moving in a *****3.74 range. The blue-chip SET 50 was up 0.08 point, or 0.38 per cent, at 21.11. Turnover
      Reuters  -  735 words
    • 296 15 Reuters n Composite Index +13-80 PHILIPPINE stocks ended higher yesterday despite late profit-taking, brokers said. The Composite Index rose 13.80 points, or 0.98 per cent, to 1,416.09 on a turnover of 669.20 million pesos. The index hit an intra-day high of 1,424.91. It was up 0.4 per cent on
      Reuters  -  296 words
    • Article, Illustration
      766 15 AFP Q Composite Index -9.35 INDONESIAN share prices closed 2.3 per cent lower yesterday as investors locked in profits amid growing political uncertainties. The Jakarta Stock Exchange Composite Index closed down 9.35 points at 396.51. Trading volume was 988.9 million shares valued at 595.02 billion rupiah. Declines led advances
      AFP  -  766 words
    • 262 15 Reuters QHZSE-40 -5.00 NEW Zealand shares ended on a soft tone yesterday, though closing off the day's lows. The NZSE-40 Capital Index ended down five points at 2,023 on a turnover of NZ$lOl million, with Telecom accounting for NZ$39 million of the trading. Reuters •fl (OOP) Advantage HDS 0.75
      Reuters  -  262 words
    • 555 15 AFP ntHOrftarin «MJ AUSTRALIAN shares closed 0.3 per cent up yesterday. The benchmark All Ordinaries Index added 10.1 points to 3,327.3, while the SP/ASX 200 Index rose 12.4 points to 3,391.5. The All Resources Index edged up a marginal 1.1 points to 1,564.5 and the All Industrials added 19.5
      AFP  -  555 words
    • 315 15 AFP n Composite Index -5.09 SEOUL'S Composite Index ended down 5.09 points, or 0.8 per cent, at 607.07. Volume fell to 354 million shares worth 1.9 trillion won. —AFP Mm I «m Anam Semi 4530 50 Br am Tectl MS -15 Central Bank t70 unch Cheil Comm *****0 2500
      AFP  -  315 words
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  • 8638 16 SGXMAIHBOABD Gr Gr MM 52** Last Vol Day Lact Quote Ik Ni M M Of A>9 Will I—i Mi W- rwot jg gg M» Cw W g Ng MULTI-INDUSTRY 143 3S c Acnw 50c 38 cd -1 664 39 5 38 38 38 5 0.5 19 9 0
    8,638 words
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  • 749 17  -  Compiled by, Aaron Lye MUSIC Groovy Saturday Nights An evening performance by The Groove, a 6-piece musical band consisting of piano, saxophone, keyboards, bass guitar and vocalist. Featuring a variety of music genres, including Latin, Afro-Cuban and other contemporary styles. Every Saturday until June 23, 7.45pm--10pm, Chijmes Fountain
    749 words
  • Article, Illustration
    218 17  -  By. Aaron Lye Tha buzz: Pillow Talk, a Singapore Arts Festival fringe event called Bed 3 PiUows. Produced as one part of a dou-ble-bill of plays that includes Split Second, a story by Wang Meiyin about the life of a couple who chances upon the story of a man
    218 words
  • Article, Illustration
    869 17 A bite-sized roundup of the weekly arts scene NEWS Eclectic showcase American artwork, like the country itself, is a collage of multivaried hues and vastly different textures juxtaposed against one another. From May 29 to June 24, the Wetterling Teo Gallery will be showcasing an exhibition called Made
    869 words
  • Page 17 Miscellaneous
    • 737 17 i iic Dullness i imes, oaiuruay, June i »un ;€M: mTffa—^TV Work® 6-00 Tech 21. 8*0 Anpanbread Man. 1L30 Assignment (R) H 10.00 AM Sir Arthur Conan l it, s u n- 9 Sl SUinei B °y R ani- 12*0 NN Headlines Doyle's The Lost 3 $£^3?Got To Do 0*0
      737 words
    • 286 17 CRYPTIC CROSSWORD ACROSS 4 Descriptive of hung meat? (4) 1 Bad weather in August or 5 C®" to register a cash transacMarch (5) ton (4, 2) 4 Hat length (8) 6 Kind of maggot (6) 8 Tidying up? No. down! (8) 7 Gas-fight (4) 9 Increase the number in a
      286 words

  • New Asia Biz Woman
    • 1046 18  -  The word is out playwright Ovidia Yu is zealous about writing down as much of her experiences as possible. And it's not merely a writer's trait she tells CHEAH UI-HOON CHEAH UI-HOON PLAYWRIGHT Ovidia Yu takes notes. Copious notes. Neat ones that fill up orderly lines,
      ARTHUR LEE  -  1,046 words
    • 965 18  -  Puppetry is not just child's play as Puppetfest 2001 also showcases acts which appeal to adults with a darker sense of humour, such as TANHWEEHWEE TAN HWEE HWEE I'VE always loved puppets. I was a pretty melancholic child, but all you had to do was shove
      965 words

  • THE ARTS
    • 443 19  -  Byi Aaron Lye IF you're a parent, perhaps the one thing on your mind right now is what to do to keep the little terrors occupied, now that the school holidays have begun. Fret not a more educational alternative to cartoons and video games
      443 words
    • 1216 19  -  What started out as a hobby for maths professor Manil Sun has turned The Death of Vishnu' into a runaway hit The first-tune author tells TAN HWEE HWEE what it's like to take the literary world by storm TAN HWEE HWEE MATHS professors aren't usually known for
      ARTHUR LEE  -  1,216 words
    • 921 19  -  Choosing a middle path between tradition and modernisation, Beijing-born artist Yang Yang explores her identity in works which resonate with meditative sensibility. VEHKA rumn«Hffwi«mw takes a look VENKA PURUSHOTHAMAN Venka Purushothaman is a lecturer of art theory and arts management at LaSalle-SIA College
      921 words

  • The Arts
    • 1705 20  -  Even with a prestigious event such as the Singapore Ails Festival, corporate sponsorship can be affected given the economic downturn. For sponsors who continue to give their support, there are practical benefits A as PARVATHINAYAR and trina FOO learn PARVATHI NAYAR, TRINA FOO WHEN the
      ARTHUR LEE  -  1,705 words
    • 313 20  -  i, -M UOvTiptlOQ Dy Trina Foo The Rite of Spring Contemporary dance troupe H. Art Chaos uses stunning aerial displays to paint a nightmarish world of a woman entrapped. Yesterday's show was sold out. 8-9.15pm at Kallang Theatre. Tickets: $22, $32, $42, $52 The Woman In A Tree
      313 words
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