The Business Times, 14 July 2001

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Microfilm: NL23039
Total Pages: 16
1 16 The Business Times
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  • Title Section
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    15 1 THE BUSINESS TIMES MITA (P) 107/03/2001 Internet: http://business-times.asial .com.sg/ SINGAPORE SATURDAY, JULY 14, 2001 85C
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  • Article
    Lock icon MARKET SUMMARY
    78 1 sn M6U4 (-15.87) BT-SKI 135.44 (-9.41) ST INDEX FUTUIES 1,657.00 (-11.00) snsci FUIUBES ***** (-2.20) STOCK MABKET INDICES Friday Change KLSECOMP 621.03 +1150 NIKKEI 225 *****.16 -6180 HANG SENG 12,***** -47.41 SET INDEX 314J1 -0.69 JAKARTA COMP 446.13 +4.66 MANILA COMP __L396J0 -3.12 TAIPEI WPI 4,485.68—-147.86 SEOUL COMP
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  • Article
    Lock icon FINANCE
    78 1 FOBEX BATES us$ s$ USS (SSperUSS) 1.836 £(USS/S$ per 1.402 2.573 EURO(l'SS/S$/E) 0.852 1.664 DM 2194 1150 YEN 124.1 67.60 RM 3.800 2.070 HKS 7.800 4149 BAHT 45.60 2484 RUPIAH ***** 6,182 *S$ to tOO units PRIME SATES SINGAPORE* 5.80 KUALA LUMPUR 7.67 JAKARTA ..39.00 BANGKOK 9.50 MANILA 11.00
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  • Article
    Lock icon Officials signal softer line on Singapore-Malaysia telco deals
    777 1  -  From Diana Oon Abdullah, Eddie Teh in Kuala Lumpur THE likelihood of telecommunications companies from Malaysia and Singapore entering each other's markets increased significantly yesterday following official statements from the two sides. Malaysian Prime Minister Dr Mahathir Mohamad, speaking at the opening
    777 words
  • Article
    Lock icon IMF warns of dire risks to financial markets
    921 1  -  These come mainly from the US, bat Europe, Japan may also be vulnerable By Vikram Khanna [SINGAPORE] THE International Monetary Fund has warned that international financial markets face serious risks, emanating particularly from the United States. In its just-released annual survey of
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  • Article
    Lock icon Argentine crisis mauls S American markets again
    520 1 Investors flee stocks, bonds, currencies; even Mexico sucked into ront AFP Reuters, NYT [MEXICO CITY] Latin American markets were battered anew on Thursday as investors fled the region over concern that a worsening financial and political crisis in Argentina would undermine neighbouring economies.
    AFP; Reuters,; NYT  -  520 words
  • Article, Illustration
    Lock icon All 12 BMW M3s sold out – at over $320,000
    251 1  - All 12 BMW M3s sold out at over $320,000 By Christopher Tan [SINGAPORE] What was originally scheduled as a cosy gathering for an elite few became a full-blown party of over 250 when enthusiasts from all over turned up last night to gawk at the new BMW M 3 coupe.
    RICHARD CHNG  -  251 words
  • Article
    Lock icon OCBC bags KepCorp undertaking with higher offer: sources
    531 1  -  By Angela Tan, Serena Ng [SINGAPORE] OCBC Bank is believed to have won Keppel Corp's acceptance of its unsolicited takeover bid for Keppel Capital Holdings (KCH) with a higher offer. Sources told The Business Times that OCBC is upping its offer to
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      Lock icon Page 1 Advertisements Column 1
      52 1 HBBDE The Arts Giving voice to the Singapore playwright. Back Pmgo Top stories New $500 m plan to nurture PhD research talent. P!g 6 S$ in simultaneous forex exchange system by 2003. Pg 6 US wholesale prices dive in June. Pg 11 Jakarta, IMF break frozen funds impasse. Pg 8
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      Lock icon Page 1 Advertisements Column 2
      34 1 Asset management economies ofscale favours larger banks, Pg 5 Beijing wins 1 Olympic votes i Next Page HocK LOCK Slew US bank mergers: nA A mixed record 4 20 years on age ext age
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      10 1 Volvo S80 2.4, Rover 75 1.8 and Skoda Octavia 1.8T
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  • NEXT page
    • Article
      Lock icon Beijing clinches vote to host 2008 Olympics; US$20b contracts on offer
      557 2 Pollution clean-np seen; global firms set to gain from construction projects Bloomberg, AFP [MOSCOW] Beijing was awarded the 2008 Summer Olympics, overcoming criticism of the Chinese communist party's human-rights record and setting up a race for US$2O billion (5536.7
      Bloomberg,; AFP  -  557 words
    • Article, Illustration
      Lock icon S'pore's medium-term prospects intact: MAS
      727 2  -  By Anna Teo [SINGAPORE] The impact of the cyclical fall-off in external demand is likely to extend beyond manufacturing to Singapore's services sectors in the next few quarters, says the Monetary Authority of Singapore (MAS). But, it adds, the domestic economy's medium to long-term prospects
      Source: MAS  -  727 words
    • ON THE grapevine
      • Article
        Lock icon Speak of staff welfare
        93 2 HERE'S a couple of nuggets from the MAS annual report. The MAS Child Development Centre had 82 children at the end of March, cared for by 10 teachers, This must be one of the best teacher-student ratios of any childcare centre in Singapore. MAS also has
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      • Article
        Lock icon Another day, another sucker
        113 2 IT must happen a lot, except that some are too embarrassed to talk about it. An accountant (no less) in Indonesia was scammed for U5595,000 by a smoothie using the cheapest get-rich-quick trick in the book, according to an AFP report. The con-man showed the accountant
        113 words
      • Article
        Lock icon Any vacancy sir? hic!
        110 2 IF you're an IT professional recently laid off, you ought to go to Singapore's first "Pink Slip Party" organised by The Straits Times Recruit section. The party is on July 25 at the Robertson Walk nightspot "Bar" in Mohammed Sultan Road. According to the organisers, it
        110 words
    • Article
      Lock icon Clarification
      71 2 IN yesterday's article, "Construction demand seen falling", we reported that of the $19 billion construction contracts last year, $12-13 billion were land reclamation projects which may not have a direct impact on the economy. The Building and Construction Authority has clarified that the $12-13 billion were, in fact, non-land
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    • Article
      Lock icon S'pore exports seen falling 7.5% y-o-y in Q2
      597 2  -  BTia'miUWJ Further Q3 fall expected on weak electronics demand and base effect By Chuang Peck Ming [SINGAPORE] Singaporemade exports in the AprilJune quarter are likely to have fallen by 7.5 per cent from a year ago the worst quarterly showing since, the
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    • Article, Illustration
      Lock icon Dr Mahathir, 20 years on
      1102 2  -  WRITER'S JOURNAL karim raslan MONDAY marks Dr Mahathir Mohamad's 20th year in office. After two decades as prime minister, the Kedah-born doctor continues to shock and to amaze often simultaneously. Dr Mahathir has nev£r shied away from controversy. Only last month, at the opening of
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      Lock icon Page 3 Advertisements Column 1
      856 3 j§ Philippine National Bank Subsidiaries I As of December 31, 2000 with Comparative Figures for 1999 As of December 31, 2000 with Comparative Figures for 1999 (In Thousand Pesos) (In Thousand Pesos) RESOURCES 2000 1999 INTEREST INCOME ON: 2000 T§99 Cash and other Cash Items Receivables from customers #9,026,065 #12.245.579
      856 words
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      Lock icon Page 3 Advertisements Column 2
      692 3 I Sunlight www.sunlightgroup.com SUNLIGHT GROUP HLDG LTD (Incorporated in the Republic of Singapore) NOTICE OF SECOND ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Second Annual General Meeting of the Company will be held at 150 Übi Avenue 4, Singapore *****5 on 31 July 2001 at 9.00 a.m. to
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  • SINGAPORE companies
    • Article
      Lock icon Weak demand may scuttle Deutsche's Venture warrant
      453 3  -  Brokers complain time till expiry too short, pricing high By R Sivanithy DEUTSCHE Bank is mulling over the launch of a covered call warrant on contract manufacturer Venture Manufacturing, but may scrap the idea if demand does not pick up early next week
      453 words
    • Article
      Lock icon Stats plants to close for a week
      249 3  -  Staff also told to take leave four days a month from August By David Boey ST ASSEMBLY Test Services' (Stats) plants will shut down for seven days during the National Day week to help the chip tester rein in operating costs, while staff
      249 words
    • Article
      Lock icon Del Monte warns of lower half-year profits on soft pricing
      223 3  -  By Rachel Ong MAINBOARD-LISTED Del Monte Pacific Limited yesterday said ahead of its results announcement that company profits for the halfyear ended June 30 will be lower than expected. It joins a growing chorus of profit warnings from companies such
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    • Article, Illustration
      Lock icon NatSteel closes below $1 after profit warning, downgrades
      335 3  -  By David Boey NATSTEEL Ltd shares slid under a dollar yesterday, afc ter the steel marker on Thursday flashed its first profit warning since its listing in 1964. The mainboard-listed counter closed 6 per cent lower at 99.5 cents its day-low on
      Source: Bloomberg  -  335 words
    • Article
      Lock icon Global body promotes objective research
      514 5  -  Move aimed at arresting waning interest in securities houses'research By Teh Hooi Ling A GLOBAL association of financial analysts and investment professionals has recommended ways to foster more objective research in the face of waning investor confidence in the research of securities houses. The recommendations,
      514 words
    • Article
      Lock icon Asset management economies of scale favours larger banks
      289 5  -  By Vikram Khanna THE development of asset management activities will provide a fillip to the consolidation of banking systems in Singapore and Hong Kong, the International Monetary Fund says in its latest survey of international capital markets. The IMF notes that larger
      289 words
    • Article
      Lock icon US bank mergers: a mixed record
      962 5  -  HocKiMJii.-ima catherine ong Going by the experience in the United States, which has seen a raft of bank mergers in the last two decades, the results of such unions are at best mixed. This has implications for Singapore where DBS Bank and United Overseas
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  • SINGAPORE markets
    • Article
      Lock icon Untitled
      325 4 Stocks Volume Goldtron 5c 41.972.CXX) Fu Yu Mfg 10c 28.703.000 Tianjin Zhong 26,740.000 FIextechl5c 14.955.000 Stratech 5c 14,420,000 Willas-Array HK20c 13,472.000 Fischer 15c 12,359,000 Hyflux5c 11,722,000 TPVUSlc 10,376,000 Keppel Cap W*****0 10,196,000 Stocks OCBC 44,949,137 Chart SemiCond 37,346,876 Datacraft 10c 33.156.872 SIA 33,044,858 Tianjin Zhong 25,665,870 VentureMfjg25c 22,974.000 DBSGrp 21.056,523
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    • Article, Illustration
      Lock icon Blue chips plunge in delayed reaction to news
      626 4  -  l-l I comment STOCKS r. sivanithy FRIDAY the 13th proved an unlucky day for the bulls the local market suffered a sudden bout of schizophrenia and fell instead of rising as had been expected. Brokers were generally puzzled by the 15.87-point drop
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    • Article, Illustration
      Lock icon DB's Venture call may not take off
      180 4  -  WARRANT WATCH By R Sivanithy THE latest covered warrant that may make an appearance here is Deutsche Bank's call on Venture Manufacturing. In terms of timing and price, the warrant would seem reasonably attractive. Unfortunately, these factors may be insufficient to convince many
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    • Article, Illustration
      Lock icon Keppel Telecom: support at $1
      242 4  -  HOT STOCK By Ven Sreenivasan Keppel Telecom has enjoyed a surge in volume during the last few days amid renewed speculation over plans for its 35 per cent stake in mobile phone services operator Ml. The stock gained five cents to $1.06 yesterday. A total
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    • Article, Illustration
      Lock icon US dollar regains footing; Singapore dollar on hold
      523 4  -  CURRENCIES Asian bourses, currencies falter despite sharp overnight gains on Wall Street larry wee THE contrast could not be sharper: A wave of buying on Wall Street overnight buttressed US dollar sentiment, but Asian bourses and their currencies faded in pre-weekend trading.
      Source: Reuters  -  523 words
  • Article
    Lock icon UNIT TRUSTS & FUNDS
    2923 4 UNIT TRUSTS FUNDS *b>rdwn Asset Mgt Asia Ltd Aberdeen Select Portfolio: Global MNCFd 0.714 0.750 Global Technology Fd!** 0.582 0.612 UK Blue Chip Fd!** 0.730 0.767 American Opport Fd 0.808 0.849 Cont Euro Eqty Fd!** 0.994 1.044 Japan EqtyFd!** 1.189 1.250 Asian Fixed Income Fd 1.120 1.154 Pacific Equity Fd!**
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  • Article
    Lock icon BT SHARE information service
    4685 5 Net Mm CPS Lankom NTS 30-Mar P t10.561 37.73 7L94 24.5 Data TY LY TY LY LC Da* 8'Mlr I 4.469 2.633 034 0.36 Company aim (Sm) (Sm) (ct*l (eta) LhHwi 23-Mar P 1.134 1.09 433 Leong Hln 21-Mar P 3.6651 *****. 2.6L 13L ACE Dynamics
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  • SINGAPORE news
    • Article
      Lock icon Institute of Systems Science gets new $10m hub at NUS
      301 6  -  ISS aims to train 20,000 professionals a year by 2010 By Yap Wy-En THE Institute of Systems Science (ISS) has marked its 20th anniversary by officially opening a new $10 million building at the National University of Singapore's Kent Ridge
      301 words
    • Article
      Lock icon New $500m plan to nurture PhD research talent
      346 6  -  NSTB initiative offers fellowship and scholarship awards tenable in S'pore and overseas By Rachel Ong SINGAPORE will nurture PhD talent by setting aside $500 million over the next five years for the new National Science Scholarship Programme, Minister for Trade and Industry
      346 words
    • Article
      Lock icon Defence witness reiterates bungled descent argument
      441 6  -  CTT.iraip CBASB Steering part conld have instead moved jnst before impact By Beth Jinks THE Silk Air defence team challenged the plaintiffs' key evidence of pilot suicide and recklessness in Singapore's High Court yesterday. Expert aircraft designer Denis Howe argued that the part of
      441 words
    • Article
      Lock icon US-S'pore FT A talks continue in London next week
      117 6 FURTHER discussions on the US-Singapore Free Trade Agreement are set to resume next week, from July 16-20, in London. This will be the fourth series of negotiations carried out, since the accord was mooted in mid-November last year. This is the
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    • Article
      Lock icon S$ in simultaneous forex exchange system by 2003
      402 6  -  S$ joins global system which cuts settlement risks By 1 Tang Weng Fai THE Monetary Authority of Singapore expects to include the Sing dollar in a global system of simultaneous forex transactions at the end of next year or in early 2003.
      402 words
    • Article, Illustration
      Lock icon Fly me to the moon, let me sell you real estate
      464 6  -  Chuang Peck Ming HEARD about the guy who made heaps of money selling a piece of the moon to Ronald Reagan, Jimmy Carter and earthly celebrities like Tom Cruise and Nicole Kidman? Bizarre but true, according to Singapore-based Roger
      CHRIS LOH  -  464 words
  • MAIL bag
    • Article
      Lock icon Fund distributors also add to high charges
      216 6  -  Stewart Aldcroft Hong Kong I REFER to "Show me the costs" (Executive Money, July 11). I have a couple of points to add. If you think the unit trusts are disguising their charge structures, then look at the life companies, whose practices are
      216 words
    • Article
      Lock icon Golden years?A pipedream
      215 6  -  Kwek Sing Cher Singapore I REFER to "Show me the cost numbers" (July 11, Executive Money). Investors take such a long time to learn that such abusive charging practices hurt them. It is likely to continue for a long time. The US had at least 50 years'
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    • Article
      Lock icon Just deserts for job hopping S'poreans
      100 6  -  Foong Kwok Kin Singapore I REFER to your article "MPs to raise issue of off-Budget measures" by Chuang Peck Ming and Eugene Low (BT, July 10). Eighty per cent of a company's cost came from employees and benefits. Are the average Singaporeans willing to
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    • Article
      Lock icon Count the cost of switching funds and adjusting portfolios
      184 6  -  Leong Sze Hian Singapore I REFER to your article "Show me the cost numbers" by Genevieve Cua (BT, July 11) on unit trust expenses. I would like to congratulate the writer for highlighting the issue of cost of investing. I counted
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    • Article
      Lock icon No doubt about IPH Tel's confidence
      140 6  -  Vladimir Fedotkin Director IPH Technology Pte Ltd I REFER to the article "Inno Pac eyes turnover boost from telco venture" (BT, July 13) and would like to correct the quotes attributed to me. What I said was the company (IPH Telecom) was confident of
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    • Article
      Lock icon Maybe doom forecasts mill came to naught
      164 6  -  Narayana Narayana Singapore I REFE7R to the report "Strong consumer spending is a good sign" by Shawque Said (Mailbag, July 3). I overlooked reading Chuang Peck Ming's optimistic forecast (BT, June 30) for the economy, but I'm sure all of us fervently hope
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      Lock icon Page 6 Advertisements Column 1
      42 6 Congratulations Tan Lim Motor Pte Ltd on your official move cum opening to: 51, Defu Lane 10. ~~IS7I Newera Equipment Pte Ltd 53, Übi Ave. 1, #05-06 Paya Übi Industrial Park. —=5— Singapore *****4. Tel: (65)241-0411 Fax: (65)441-1849 Email: francis.tan@neweraequipment.com http: www.NeweraEquipment.com
      42 words
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      67 6 We welcome letters. E-mail us at btietter@sph.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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  • REGIONAL news
    • Article
      Lock icon Meeting Daim by chance at a teh tarik shop
      625 7  -  REPORTER'S KW a WW 1 dzulkarnain taib MBT MOST times you need a nose for news to get hot stories. But sometimes you just bump into Daim Zainuddin having teh tarik at a Bangsar restaurant. There he was at a favourite
      MBT  -  625 words
    • Article
      Lock icon UEM gives Halim 60 days more but seems to have stiffened stand
      474 8  -  It reserves right to take action if debt unpaid From Eddie Toh in Kuala Lumpur UNITED Engineers Malaysia has granted Halim Saad more time to cough up RMIOO million (5548.3 million) but appears to have stiffened its stand
      474 words
    • Article, Illustration
      Lock icon Jakarta, IMF break frozen funds impasse
      507 8  -  Deal on draft Letter of Intent conld pave the way for disbursement of loan From Shoeb Kagda in Jakarta INDONESIA yesterday reached an agreement on a draft Letter Of Intent (LOI) with the International Monetary Fund (IMF) which could pave the way for the
      507 words
    • Article
      Lock icon Ibra urges Sinar Mas to service rupiah bonds
      323 8 JAKARTA Local bondholders refuse overall debt workont deal Reuters INDONESIA'S Bank Restructuring Agency (Ibra) said yesterday it would urge Sinar Mas and its debt-laden Asia Pulp Paper (APP) to keep servicing their rupiah bondholders despite APP's debt standstill. APP, with operations mainly
      Reuters  -  323 words
    • Article
      Lock icon APP faces Citibank suit as another dropped
      85 8 SINGAPORE Reuters ASIA Pulp Paper (APP) won a rare victory yesterday as a supplier dropped its lawsuit—but the debt-laden group faces more woes in Singapore's High Court from a US$2.4 million suit brought by Citibank. APP, which has suffered six defeats in the
      Reuters  -  85 words
    • Article, Illustration
      Lock icon Taiwan growth forecast slashed by more than half
      673 9  -  Leading research institute cats 2001 ontlook from 5-21% to 2.38% as global slump hits exports hard Prom Macabe Keliher in Taipei TAIWAN'S economy looks bleak as a leading research institute yesterday slashed by more than half, its 2001 economic growth forecast for
      AP  -  673 words
    • NOTE Book
      • Article
        Lock icon Telekom to sell DPC stake to Shin unit
        80 9 AFX [KUALA LUMPUR] Telekom Malaysia Bhd said it has signed a deal to sell its 49.99 per cent stake in Digital Phone Company Ltd (DPC) to Shin Corp Public Company Ltd unit Shin Digital Company Ltd for US$245 million in cash. DPC
        AFX  -  80 words
      • Article
        Lock icon Panel okays Bush move on China ties
        57 9 Reuters [WASHINGTON] A key committee in the US House of Representatives on Thursday voted to approve President George W Bush's decision to extend normal trade relations to China for an additional year. The House Ways and Means Committee, on a voice vote, endorsed
        Reuters  -  57 words
      • Article
        Lock icon Tycoon' Bob' Hasan's jail term upheld
        61 9 AFP [JAKARTA] Indonesia's Supreme Court has upheld a six-year jail sentence handed by an appeals court to tycoon Muhammad 'Bob' Hasan, a confidant of former president Suharto. A Jakarta appeals court in.May upheld a six-year sentence on Hasan issued by a lower court for
        AFP  -  61 words
      • Article
        Lock icon Thai Airways seeks 'sound' chief
        60 9 Reuters [BANGKOK] State-owned airline Thai Airways is seeking a "psychologically sound" Thai national aged between.4s and 60 to act as company president, according to an advertisement in the Bangkok Post yesterday. Company president Bhisit Kuslasayanon will retire in September 2002, but the airline hopes to
        Reuters  -  60 words
    • Article, Illustration
      Lock icon Indon MPR told to be ready for snap session: reports
      404 9 JAKARTA AFP, Reuters LEADERS of Indonesia's national assembly (MPR) have told members to be ready for a snap session which could impeach President Abdurrahman Wahid, local media reports said yesterday. The call for the MPR's 700 members to be ready
      AFP,; Reuters; AP FILE PHOTO  -  404 words
    • Article
      Lock icon Japan, Philippines agree on US$3b swap deal
      276 9 TOKYO The agreement could help boost Chiang Mai Initiative Reuters JAPAN and the Philippines have reached a basic agreement to set up a dollar-peso swap facility as part of an Asiawide currency safety net to fend off future financial crises, officials said yesterday.
      Reuters  -  276 words
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  • FINANCE
    • Article
      Lock icon STI futures fall along with stocks
      272 8  -  OT Indez/MCSCI S'pore Index C K Lau Refco Singapore SINGAPORE shares yesterday failed to extend Thursday's gains despite sharp rallies in US markets. The key Straits Times Index shed 16.81 points, or 1.0 per cent, to end at 1,656 points, as 17 stocks rose,
      272 words
    • Article
      Lock icon Futures dive 3.6% as stocks hit 7-yr low
      235 8  -  MSCI Taiwan Indai Daniel Wong Refco Singapore TAIWAN stocks yesterday fell to their lowest in more than seven years after a government research institute halved the country's 2001 growth forecast. The MSCI Taiwan Stock Index shed 6.35 points, or 2.92 per cent,
      235 words
    • Article
      Lock icon CURRENCY REPORT
      226 8 Reuters London THE US dollar rose almost half a per cent against the yen yesterday after Japan stocks could not follow the US stocks rally of a day ago, but the greenback retreated against the euro, ahead of US retail sales data and the opening of Latin American
      Reuters  -  226 words
    • Article, Illustration
      Lock icon Untitled
      1226 8 nTTERBAMKCEOgSKATBS Juli3 AS C$ twfc E— Ffr P« m{ yb 9*Uk Van Wow KM N2$ Nfc it Paao S$ Kmt Sfr ltT$ Bafct Pond US$ Australia a776 4.196 0.593 1992 1160 1946 ***** ***** 0.628 6.595 1.922 1244 ***** 26.911 0.928 4.165 0497 17.690 ***** 0.361 0.506 Canada L2M 5.409
      1,226 words
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      54 8 a Lianhe Zaobao I China Securities I I Regulatory I I Commission, I I and I I the sfeady siie of I I Chinese share I I market I I frßtffillfJU: I I B-fiE as# I Someone keen on expanding horizons. Someone who will relish the responsibilities. The Straits Times
      54 words
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  • Article
    Lock icon COMMODITIES
    1908 9 S1C0M FUTURES Juli3 RUBBER (futures closing as at 5.30pm) RSS1 CONTRACTS cents/kg) Close Volume Open Month High Low Sett (tonnes) Interest Aug 01 112.00 Sep 01 113.00 Oct 01 113.25 Nov 01 1M.25 RSS 3 CONTRACT (US carts/kg) Votam* OpM Month High Low Sett' (towns) Interest Aug 01 6125
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  • Article
    Lock icon STOCKS asia
    7543 10 HONG KONG v«t Jul 13 HK$ COQO) Across Asia Multimedia 2.00 0.01 4717 Alpha General 0.05 unch *****6 Amoy Prop 8.95 0.10 876 Ananda Wing On 0.16 unch ***** Anganq New Steel H 1.28 -0.06 ***** Anhui Conch H 1.98 -0.01 2820 Anhui Expressway H 1.45 -0.03 5630
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  • WORLD news
    • Article
      Lock icon Tech stocks' sizzle on bargain hunting won't last
      450 10 NEW YORK Finns have yet to report things will torn aronnd AP TECHNOLOGY stock shareholders enjoyed a nice bump up in their portfolios on Thursday thanks to triple-digit rallies in the Dow Jones Industrial Average and Nasdaq Composite Index but the bad
      AP  -  450 words
    • Article
      Lock icon US wholesale prices dive in June
      622 11 WASHINGTON 0.4% dip best inflation showing in two years; retail sales np0.2% AP US prices at the wholesale level plunged 0.4 per cent in June as record declines in residential electricity and natural gas prices, and a big drop in gasoline costs gave the
      AP  -  622 words
    • Article
      Lock icon Morgan Stanley sees global growth fall to 2.4%
      303 11 HONGKONG AFP GLOBAL economic growth is expected to fall to 2.4 per cent this year, meaning it will be in recession as defined by International Monetary Fund standards, investment bank Morgan Stanley said yesterday. "We have been warning of this possibility since
      AFP  -  303 words
    • Article, Illustration
      Lock icon BOJ keeps monetary policy steady, defies calls for easing
      744 11  -  First half corporate bankruptcy rate hits highest level in 3 years From Anthony Rowley in Tokyo DEFYING calls from Japanese politicians and the International Monetary Fund to ease monetary policy in advance of what some fear could be the devastating effects
      744 words
    • Article
      Lock icon Record US$57.9b debt defaults in H1: S&P
      231 11 NEW YORK Reuters AS ECONOMIES worldwide slowed and banks stiffened their lending, at least 101 companies defaulted on a record U5557.9 billion of debt in the year's first half, credit rating agency Standard Poor's said on Thursday. The amount is 37 per cent
      Reuters  -  231 words
    • Article
      Lock icon Motorola soars 16% despite cutting H2 forecasts
      474 12 Comments made point to a definite end to slowdown in some businesses Reuters [CHICAGO] Motorola, the world's No 2 mobile telephone maker, on Thursday cut its earnings forecast for the second half and said it plans to shed 4,000 additional jobs, but added
      Reuters  -  474 words
    • Article
      Lock icon AMD's Q2 net profit dives 92%
      315 12 It ami sales falling farther, by apt* 15% in Q3 from Q2'i level AFX Dow Jones Newswires, [SUNNYVALE, California] Advanced Micro Devices' secondquarter net income plunged 92 per cent reflecting foiling demand for some memory chips as well as a fierce price war with
      AFX; Dow Jones Newswires,  -  315 words
    • Article, Illustration
      Lock icon Horse and Rider trots to record price
      107 12 AP [LONDON] A silverpoint study of a horse and rider by Leonardo da Vinci which on Tuesday equalled the world record price for an Old Master drawing when it fetched more than £8.14 million (5520.9 million), including buyer's premium, at a Christie's auction
      AP  -  107 words
    • Article
      Lock icon Rambus Q3 profit meets forecasts
      299 12 It warns sales could continue to drop in the current quarter Reuters [LOS ALTOS, California] Computer memory chip maker Rambus Inc, facing an industry slowdown and legal battles, has reported thirdquarter profit that came in line with expectations, but warned that sales would drop further.
      Reuters  -  299 words
    • Article
      Lock icon IBM's Q2 EPS seen 12% higher; seen as safe stock
      266 12 AFX [SAN FRANCISCO] International Business Machines Corp is expected to report on next Wednesday second-quar-ter earnings per share (EPS) of US$l.l5 an 11.7 per cent rise from US$l.O3 in the same period last year, according to a survey of 17
      AFX  -  266 words
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      558 10 Get Smart with The Busioesfwies Standard Chartered Smart Credit™ For just 85« a day for 6 months, you get: Ji A 6-month Subscription of The Business Times Standard Chartered Smart Credit™ < Unlimited Golf for 1 Month m I ui Al 4u n i tojin mm. ran MMU «u Yes!
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      934 11 To advertise call toll-free 1800-741 1883 nu A IvXJiJ Fax No 741 1298 IN THE MATTER OF THE COMPANIES ACT CAP. 50 AND IN THE MATTER OF MASS DEVELOPMENT PTE LTD (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies
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  • Article
    Lock icon SGX clob
    2597 12 BONDS WARRANTS *t Mi M U*J J2-M Last M My LmMmIi Avf MCm Imt Mk mm W» Lew cmrmr Mi *tr fWt) law W> M» (—«»)■*>§ M» <%) UK 39.5 29 s ASTIW*****1 33 -I 796 36 33 33 34 34 26.4 1 16 9 1.36 35 37
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  • e News
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      Lock icon Card bills may carry warnings
      240 13 CANBERRA Australia mulls move as card debt rockets Reuters AUSTRALIANS' credit card statements could soon carry warnings like those on cigarette packets under a proposal unveiled yesterday. The nation's state and Federal consumer affairs ministers were asked at their annual get-together yesterday to consider stamping
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      Lock icon Info on health websites hard to grasp
      152 13 Reuters [CHICAGO] About half of American adults seeking information about their children's health cannot grasp the information available on the Internet, researchers said. While about 50 per cent of Americans read at an Bth grade level or below, many of the websites devoted
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    Lock icon STOCKS sgx
    8236 13 SGXMAINBOARD Gr Gr M Wl 52-Wk Last Vol Day Last Quote Mv Otv VM MM Cap Avg Wflli low Cowp—y Salt COOP) W0» low >g Sator Cw W M Wet MULTI-INDUSTRY 143 35 c Acma 50c 40 unch 193 40.5 39.5 39 40 0.5 19.9 0.6 10.5 69.4
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  • BT motoring
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      Lock icon Economy options, luxury style
      789 14  -  CHRISTOPHER TAM tests value variants of two desirable cars the Rover 75 and the Volvo SBO and reckons they'll give rivals a run for their money CHRISTOPHER TAN EVER been in one of those David Kelley situations where the angst of "what if', "if only", "what
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      Lock icon Forget the jibes, the Skoda is a smart buy
      696 14  -  VWs tech transfer has transformed it into solid marque By Ven Sreenivasan SKODA has come a long way since it was bought by Germany's Volkswagen Group in the early-*****. The generous transfer (or transplant) of VW technology and know-how has transformed
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      Lock icon Significant petrol price cuts needed
      114 14  -  Lim Choo Beng Singapore I REFER to "Shell, ExxonMobil step on the gas in price war" (BT, July 9). Finally, oil companies are cutting the price of petrol but I hardly agree with your headline. You could probably call it a "war game", but hardly
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    • Article
      Lock icon A superior carpark at SIR building
      203 14  -  Richard Seah Singapore I REFER to the letter "Why some carpark systems don't work" (Wheel Matters, May 5). I chanced upon the carpark at the Singapore Immigration and Registration Building when I was there to renew my passport recently. This carpark is superior in
      203 words
    • Article
      Lock icon Which gear to use when coming to a stop
      65 14  -  Francis Siew Singapore I READ somewhere that when coming to a stop it is best to leave a car coasting in the last gear than put in it neutral. The article also said you don't save fuel when a car is
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    • BUMPER to BUMPER
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        Lock icon A Jaguar for less than $200,000
        112 14 FOR the first time in recent history, you can get a Jaguar for under $200,000. Malayan Motors has brought in a "dressed down" version of the S-Type, and is selling it for $199,000 with COE. The three-litre car is fundamentally the same as the
        112 words
      • Article
        Lock icon VW suspends work at Brazil plant
        93 14 VOLKSWAGEN will halt production for 10 days at its main assembly line in Brazil, sending 8,000 workers on paid leave. According to the Financial Times, move comes after other large companies have cut production or announced work stoppages, reinforcing previous indications that a slowdown
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      • Article
        Lock icon Peugeot, Toyota in small car deal
        109 14 PSA Peugeot-Citroen and Toyota Motor plan to invest 1.5 billion euros (552.3 billion) to produce 300,000 small passenger cars a year for the European market. Reuters reported that the two had signed a memorandum of understanding to form a 50-50 joint venture to develop
        109 words
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        Lock icon BMW could buy engines from Toyota
        133 14 BMW is in advanced talks with Toyota to buy up to 30,000 diesel engines a year from Japan's largest automotive group, according to the Financial Times. Norbert Reithofer, BMW's worldwide head of production, said the engines will be used to power 30 per cent
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        Lock icon 'Darkest hour'over for MG Rover
        122 14 MG ROVER has recovered from its "darkest hour" to be on course for profitability next year, says chief executive Kevin Howe. He was commenting on a long-delayed shareholders' statement published on Wednesday showing that the now-independent UK car company, jettisoned by BMW last year, cut
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        Lock icon Audi: advocate of aluminium
        70 14 AUDI, one of the few advocates of aluminium-body cars, has built more than 150,000 vehicles with aluminium since 1994 including over 93,000 AB's and just under 57,000 A2's. Audi has been conducting research and development with aluminium for more than 16 years and has built up
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      • Article
        Lock icon BMW sells record 459,800 cars in H1
        87 14  -  Compiled by Christopher Tan BMW announced record first-half sales as buoyant demand forced the German carmaker to increase production and suspend summer shutdowns at some of its largest plants. Financial Times said BMW sales rose 9 per cent to 459,800 vehicles in the
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      85 14 j If you have something SlOO worth of motor-related to get off vouchers. Prizes are your chest, write to us. A/hppl sponsored by We welcome feedback STAMFORD TYRES, and suggestions from fWICI L# I "53 Singapore's only readers. listed tyre and auto The AUTOMOBILE services group. ASSOCIATION OF You can
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  • BIZ woman
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      Lock icon Niche curators
      961 15  -  faryatbi mayar meets two women who run art galleries with a difference PARVATHI NAYAR LIKE a newspaper editor or theatre director, the art curator is someone with the power to shape ideas. Almost unnoticed or unremarked, many curatorial positions in Singapore are occupied by women like Natacha Blondeau
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  • THE arts
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      Lock icon Foreign talent
      546 15  -  pakvathx matar explores the works of four artists from around the region currently showing in Singapore PARVATHI NAYAR IT'S become par-for-the-course for foreign artists to exhibit with local galleries, either as one-off shows or more regularly as part of the galleries' stable of artists. Among the current crop,
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    • Article
      Lock icon the programme
      530 15  -  Compiled by Aaron Lye MUSIC Texas Girls' Choir At Chijmes The widely-travelled choir will perform a repertoire of classical, baroque and contemporary music. July 22,5pm, Chijmes Lawn. Admission is free. Regi Leo Sextet at Chijmes Reginald Leo spices up your Sunday evening with a six-man jazz team. July
      530 words
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      1126 15 ACE DYNAMICS LIMITED (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Shareholders of the Company will be held at 1 Shipyard Road, Singapore *****8 on 30 July 2001 at 10.30 am for the purpose of considering
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  • Page 15 Miscellaneous
    • Miscellaneous
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      298 15 CRYPTIC CROSSWORD ACROSS 4 Small characters she turned out 4 Final deliveries for retiring sol- so automatically (6, 3,6) diers (4,4) 5 Party on constitutional area for 8 Like a wolf at university, in busi- pedestrians (8) ness(6) 8 Adroitly evade questions of 9 Submarine reporting to south composer (5)
      298 words
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  • EXECUTIVE Arts
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      Lock icon Giving voice to the S'pore playwright
      990 16  -  Often lost in the shadow of the director, playwrights here are beginning to get support from some of the major arts institutions, aabom lye reports AARON LYE THE title of a recent forum by The Necessary Stage (TNS), "The Death and Rebirth of the
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      Lock icon Artists & sailors
      630 16  - Artists sailors Raffles Marina is putting in place a scheme to bring Singapore artists to the attention of its very international club membership, gheah ui-hoon reports CHEAH UI-HOON WHILE many talk about supporting the arts, only a few come up with innovative and tangible ways of doing so. One club
      RICHARD CHNG  -  630 words