The Business Times, 21 July 2001

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Microfilm: NL23040
Total Pages: 18
1 18 The Business Times
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  • Title Section
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    21 1 THE BUSINESS TIMES MITA (P) 107/03/2001 > Internet: http://business-times.asial.com.sg/ S I N G A P O 3-sr-E^ SATURDAY. JULY 21, 2001 85C
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  • Article
    Lock icon MARKET SUMMARY
    77 1 STI M3&06(+11.24) BT-SRI 628J0 (+6.09) ST INDEX FUTUBES UI7 (-1.00) SHISCI FUTUBES 195J0 (+0.30) STOCK MAKKET INDICES Friday Change KLSE COMP 648.78 -0.71 NIKKEI 225 riofrf HANG SENG 12J01.68 +21J6 SET INDEX 3l2i7 -3.76 JAKARTA COMP 460.91 -2J6 MANILA COMP —U76J6 -6J1 TAIPEI WPI <220J3 +»J6 SEOUL COMP
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  • Article
    Lock icon FINANCE
    81 1 FOREX BATES its* ss USS (SS per US$) 1.824 £(USS/SS per 1.429 2.607 EURO(USS/S$/E) 0.875 1.695 DM 2536 1.226 YEN 123.1 67 JO RM 3.800 2.063 HKS 7.800 4.276 BAHT 46.76 26.09 RUPIAH 11,148 6,112 *S$ to 100 units PRIME BATES SINGAPORE* 5.80 KUALA LUMPUR 7.67 JAKARTA 39.00 BANGKOK
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  • Article
    Lock icon Clob saga to end with Monday's share release
    564 1  -  B More than 70% of the RMlBb worth of shares sold, sources say From. Eddie Toh in Kuala Lumpur THE long-drawn-out Clob affair will come to a close on Monday when the last batch of Malaysian shares previously traded on Singapore's over-the-counter
    564 words
  • Article
    Lock icon DBS sticks to original OUB offer for now
    889 1  -  Bank has learnt much from previous integrations: Dhana By. Angela Tan [SINGAPORE] DBS Group failed to raise its takeover offer for Overseas Union Bank (OUB) in its much-anticipat-ed offer document issued yesterday but banking sources are not ruling out a surprise at
    889 words
  • Article, Illustration
    Lock icon Bishan Loft exec condo 80% sold before official launch
    468 1  -  At $418 psf, prices are highest for exec condos this year By, Andrea Tan [SINGAPORE] The strong sales for executive condos already evident in second quarter figures reached a peak yesterday when hundreds of buyers snapped up almost all the units
    468 words
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      81 1 DfSEPE Executive Arts Singapore dance scene growing by leaps and bounds. Pg 18 Top Stories Charterers losses widen to USslo7.6m. Pg 4 Flextronics expects to miss Q2 profit forecast. Pg 7 Bank workers fear job losses after mergers. Pg 8 DFl's G'value stores aim for slice of HDB market. Pg
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      43 1 OUB beats forecasts with highest-ever interim profit, Next Page UOB will show some growth: chairman, Pg 4 Writer's Journal Being Chinese 10PI6SS in Indonesia in Singapore S&Kr 2 MPR to begin \W W~ Gus Durs rV impeachment »C -—*X on M °nday Page
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      99 1 Hock Lock Siew Allow 'cooling off' period for fund launches > it M?'* 'M' if *tf I I 1 1 I m M fw JilMHF^^^r jPT;/.; x Breguet. La passion laisse das traces. Wristwatch "Grande Complication" in 18-carat yellow gold, with tourbillon. Hand-wound movement, engraved by hand Power-reserve indicator and
      99 words
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      41 1 I Press on, 7 y a MAS $g S pore must press ahead with financial reforms: PM Goh MAS gearing up to supervise bigger MAS to stick to managed float of SS Evaluating Singapore's managed 'iBBy Broadband posh could reignite US
      41 words
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  • NEXT page
    • Article
      Lock icon OUB beats forecasts with highest-ever interim profit
      627 2  -  Bank posts 8.4% rise in earnings to $316.55 m; results get boost from 71.5% drop in provisions By\ Conrad Raj [SINGAPORE] Overseas Union Bank (OUB) now being courted by both DBS Holdings and United Overseas Bank (UOB) has beat analysts' forecasts by reporting
      627 words
    • Article
      Lock icon MPR to begin Gus Dur's impeachment on Monday
      650 2  -  Gas Dur delays threat to declare emergency yesterday Prom\ Shoeb Kagda in Jakarta AFTER a day of high political drama, the chairman of the People's Consultative Assembly (MPR), Amien Rais, announced late last night that the nation's highest legislative body will convene
      650 words
    • Article
      Lock icon Correction
      55 2 IN last Tuesday's Eye on the Economy column, we wrongly reported on a survey by human resource consultancy Watson Wyatt aS saying that Singapore companies expect to revise their salary upwards by 4.4 per cent. The companies actually expect to revise their salary downwards by 4.4 per cent. We
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    • Article, Illustration
      Lock icon Being Chinese in Indonesia
      1220 2  -  WRITER'S JOURNAL karim raslan THERE were dogs in both homes. The Sardonos had a pack of excitable miniature terriers. They looked like rats with sang kancil legs: spritely and energetic. The doctor, Dr Sweeheng, a more pensive man, had a large, oddly-shaped and lugubrious pariah. It
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    • ON THE grapevine
      • Article
        Lock icon Telling slip?
        148 2 THE American National Press Club was packed on Thursday for a policy speech in Washington by Senator Hillary Clinton of New York. But it was her slip of the tongue that provoked the biggest response. After delivering a detailed address on the environment, Mrs Clinton was asked whether
        148 words
      • Article
        Lock icon In love with the US$
        92 2 WHAT happens when foreigners' love affair with the American dollar dies? No one quite knows, but at least we can keep the numbers in view. James Grant, who runs a newsletter bearing his name, said foreigners now own a near-record 36.7 per cent of all
        92 words
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      76 2 Since 1975 oik worldwide staff of over 27 5 multi-disciplined professionals k j Vm includinq lawyers chartered accountants. chartered secretaries and bankers have 9 i I V provided confidential and cost effective gk company formation in all the major low By ,a a,p;ls including .r\'Or;h>'.) f U.s>soo The world's leading
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      15 2 PROPERTIES The Straits Times Classified. Classifications 402 568. I°*^ Buy k. Sdi it Find it
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  • MAS conference
    • Article, Illustration
      Lock icon S'pore must press ahead with financial reforms
      858 3  -  PM acknowledges the costs of the 'flurry of changes', but says there are clear long-term gains By Chuang Peck Ming SINGAPORE must press on with the liberalisation of its financial sector, the short-term costs notwithstanding, Prime Minister Goh Chok Tong urged last night.
      RICHARD CHNG  -  858 words
    • Article
      Lock icon Broadband push could pave way for US recovery
      610 3  -  But Argentina risk is serious in the short term, says economist By' Vikram Khanna LEGISLATION to accelerate the deployment of broadband Internet in the US could boost technology spending, paving the way for a fas-ter-than-expected economic recovery in the world's largest economy,
      610 words
    • Article, Illustration
      Lock icon MAS gearing up to supervise bigger and more banks
      686 3  -  Challenge is to ensure soundness of Singapore's financial system, says BG Lee By 1 Ven Sreenivasan SUPERVISING larger and more complex financial institutions is a major challenge facing Singapore's regulators, according to Deputy Prime Minister Lee Hsien Loong. While Singapore banks
      ARTHUR LEE  -  686 words
    • Article
      Lock icon MAS to stick to managed float of S$
      341 3  -  By Ven Sreenivasan THE Monetary Authority of Singapore (MAS) will stick to a "managed float" of the Singapore dollar, and use the exchange rate as its principal policy tool to maintain price stability and purchasing power. Deputy Prime Minister and MAS chairman
      341 words
    • Article
      Lock icon Currencies: to fix or to float?
      524 3  -  Panelists discuss the best ways to manage a country's currency By Larry Wee THE Singapore dollar has been shielded from undue currency volatility and speculative attacks not because of the Republic's managed float but more as the result of other commendable factors. These include
      524 words
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      152 4 TWO DIFFERENT EHHIBITIONS RT THE SRME TIME UNDER ONE ROOF 11 ND 0 N E~sTXT Furniture Handicraft are essential I W AVnCDCri 1 FURNITURE for your home. Indonesian 1 WvJMJIM j~ HANDICRAFT producers offer the latest and a itf! r I variety of furniture and handicraft j I products, according
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  • SINGAPORE news
    • Article, Illustration
      Lock icon Chartered hit by US$107.6m Q2 loss as sales plunge 63%
      583 4  -  Severe industry downturn cited; red ink also seen for Q3 By David Boey [SINGAPORE] Chartered Semiconductor Manufacturing yesterday announced its first back-to-back quarterly loss since its November 1999 listing, after it was saddled with losses amounting to U*****.6 million for
      FILE PHOTO  -  583 words
    • Article, Illustration
      Lock icon UOB will show some growth: chairman
      568 4  -  BTiqimmwj Wee Cho Yaw says second half is more worrying Byi Conrad Raj DESPITE the current economic downturn, United Overseas Bank will show some growth, albeit not much, according to its chairman Wee Cho Yaw, who also said the impact on the bank's non-performing
      ARTHUR LEE  -  568 words
    • Article
      Lock icon Allow 'cooling off' period for fund launches
      1012 4  -  lock siew genevieve cua A FUNNY thing happened this week while I was doing research for a column on capital guaranteed funds, in particular DBS Asset Management's Up fund. On Tuesday, after working out the compounded rates of return for Up, on both
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    • Article, Illustration
      Lock icon GES to move some production to China to help cut costs
      420 4 Bloomberg GES International Ltd, a Sin-gapore-based computer parts maker, said it will move some manufacturing to a new plant in China from Singapore by the end of 2002 to cut costs as demand for electronics wanes. The company, which
      Bloomberg; FILEPHOTO  -  420 words
    • Article
      Lock icon Flextronics says it will miss Q2 profit forecasts
      621 7 Q1 earnings hit USsBB.3m compared with USs37o.6m loss in year-earlier qtr Bloomberg FLEXTRONICS International Ltd, the second-biggest contract manufacturer of electronics marketed by other companies, said fiscal second-quarter profit will miss forecasts because customers' sales are dropping. Second-quarter earnings, excluding certain costs,
      Bloomberg  -  621 words
    • Article
      Lock icon SFI interim profit seen rising 20% to $ 13.8m
      551 7 SFI interim profit seen rising 20% to 13.8m Increased slaughter numbers, fees expected to offset distribution business Bloomberg SINGAPORE Food Industries (SFI), a unit of South-east Asia's largest engineering company SembCorp Industries, may report a 20 per cent rise in first-half profit, led by higher earnings from its abattoir and
      Bloomberg  -  551 words
    • COMPANY Briefs
      • Article
        Lock icon Ipco in 16.5m share placement
        56 7 AFX IPCO International Ltd said it is placing 16.567 million new shares at $0,215 each, or a 9.2 per cent discount to its price on Thursday. The placement will be handled by Kim Eng Securities. The $3.4 million proceeds from the placement will be used
        AFX  -  56 words
      • Article
        Lock icon Wall Shing H1 gain lower than expected
        89 7 WAH Shing International said the results of the group for the first half of2ool were more adverse than anticipated. The decline in turnover has deepened mainly due to the slowdown in the US economy and slackened market demand. Lower-than-expected sales has resulted in
        89 words
      • Article
        Lock icon Labroy Marine unit's IPO delayed
        33 7 LABROY Marine said that its subsidiary, Datum Pointt Holdings Pte Ltd, is deferring its listing plan in view of the present poor market conditions. It did not elaborate.
        33 words
      • Article
        Lock icon Jurong Tech's interim gain up 48%
        104 7 JURONG Technologies said profit after tax and extraordinary items increased by 48.4 per cent to $3.2 million for first half2ool. Turnover rose 93.9 per cent to $104.6 million from $53.9 million over the corresponding period, largely due to the increase in orders from existing
        104 words
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      1369 5 Ami 111 UU I 1 111 CI I L The Board of Directors of Overseas Union Bank Limited wishes to announce: 1. UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2001 4. REVIEW OF RESULTS The Croup The Bank After-tax profit of the Croup for the first half year
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  • SINGAPORE markets
    • Article
      Lock icon Untitled
      340 6 Stocks Volume Fu Yu Mfg 10c 23,180,(XX) Ttanjin Zhong 12,292,000 STEngglOc 8,490,000 Goldtron5c 7,639,000 SingTel 15c 7,349,000 NOL 6,456,000 InnoPac 20c 6,358,000 Witlas-Array HK20c 6,179,000 Stratech 5c 5,743,000 Datacraft 10c 5,243,000 Stocks DBSGrp 35,811,870 Datacraft 10c 33,615,349 ST Engg 10c 23,571,080 OUB 21,713,998 UOB 20,134,936 Chart Semiconductor 26c 19,511,720 Fu
      340 words
    • Article, Illustration
      Lock icon STI up but futures'weakness undermines sentiment
      628 6  -  I=ll comment STOCKS r. sivanithy Although the Straits Times Index ended the week yesterday with a net gain of 11.24 points on the day at 1,638.08, the mood throughout the session was decidedly cautious and unsure. This was most probably because of developments in
      628 words
    • Article, Illustration
      Lock icon Affin wrt: long-dated M'sian play
      175 6  -  WARRANT WATCH By R Sivanithy SOME readers may have noticed that the Malaysian stock market has been going great guns lately. This has led some to speculate that local traders, always attracted to momentum, may have switched their energies to Malaysia. If so, this could
      175 words
    • Article, Illustration
      Lock icon Huan Hsin retraces to support levels
      228 6  -  ROT STOCK By Ven Sreenivasan WIRE and cable wholesaler Huan Hsin Holdings this week announced that a bank-backed European institutional fund had bought 10 per cent of its stock from controlling shareholders. The stock ended unchanged yesterday at 79.5 cents. A total of 889,000
      228 words
    • Article
      Lock icon Asian currencies rally on yen gains, Bush comments
      474 6 Talk of intervention by central banks also keeps speculators at bay Bloomberg [SINGAPORE] Asian currencies rallied on optimism that a gaining yen will help draw overseas buyers to relatively cheaper goods outside Japan. Speculation that the US doesn't want the greenback to
      Bloomberg  -  474 words
  • Article
    Lock icon UNIT TRUSTS & FUNDS
    2901 6 UNIT TRUSTS FUNDS CMGFSGIolOOGrFd/** 1 065 1.120 CMG First S Glo Bal Fd/8 0 665 0.700 CMG First State APGrFd!** 0.650 0.685 Aberdeen Asset Mgt Asia Ltd CMG F S Asia Inno&TechFd 0.470 0.495 CMG F S Internet 8 Com Fd 0.370 0.390 Aberdeen Select Portfolio CMG First SR China
    2,901 words
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      64 6 JS# n .WWarwMl. ""J»« U kak.MKi.Kiim'iM •'■X' '«#> Oct »M! J»«4«L tIMMTLf «Mrn l-»-«k »rML N* >«v «rt-f KM"? Jt t «ssi»*c tuC^^Cawgwr jm »t tikw Mi. rr? <%p nw. mt I i*<«t own W> SN>9» "r. why MmiUM)', 50* *> I > I fe s fi M| j 1
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      9 7 Ericsson posts Q2 loss of 5.3b kronor, Pg 13
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      1340 7 I Overseas Union Trust Limited (Incorporated in the Republic of Singapore) ANNOUNCEMENT The Board of Directors of Overseas Union Trust Limited wishes to announce: 1 UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2001 The Croup The Company 30-6-2001 30-6-2000 30-6-2001 30-6-2000 SS 000 SS'OOO SS 000 SS'OOO Interest
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      586 8 Goldman I Sachs GOLDMAN SACHS (SINGAPORE) PTE. (Incorporated in the Republic of Singapore) for and on behalf of DBS DBS GROUP HOLDINGS LTD (Incorporated in the Republic of Singapore) VOLUNTARY CONDITIONAL OFFER FOR OVERSEAS UNION BANK LIMITED (Incorporated in the Republic of Singapore) DESPATCH OF OFFER DOCUMENT 1. Despatch of
      586 words
  • SINGAPORE news
    • Article
      Lock icon NTUC acts on fears of post-merger layoffs
      428 8  -  Union will give feedback to banks and the BIAS Byl Eugene Low BANK employees are worried about losing their jobs as a result of the banking sector's consolidation, and the National Trades Union Congress (NTUC) is taking up their concerns with the Monetary
      428 words
    • Article, Illustration
      Lock icon Nextec good example for technopreneurs
      287 8  -  By Lynn Lee THE Economic Development Board wants to encourage business activities that will not just add but create new value to enhance the competitiveness of companies based here, said EDB chairman Teo Ming Kian yesterday. Speaking at the opening ceremony of Nextec Applications Pte
      FILE PHOTO  -  287 words
    • Article
      Lock icon Finalised Concept Plan little changed on good feedback
      288 8 THE Urban Redevelopment Authority (URA) has finalised the new Concept Plan, a blueprint for Singapore's long-term physical development, about five months ahead of schedule. Concept Plan 2001 wiU guide the URA's review of development guide plans (DGPs) for Singapore's 55 planning areas
      288 words
    • Article
      Lock icon High standards for Moscow Narodny Bank
      131 8  -  jMAILIiEin Paul Forrest Head of media relations Moscow Narodny Bank London IN recent days, there have been a number of comments in your newspaper regarding Moscow Narodny Bank. As you have separately indicated, the events being referred to relate to the mid-*****, and although
      131 words
    • Article
      Lock icon Covered wrts: no adjustment for capital reduction?
      266 8  -  Kom Mam Sun, Singapore I RECALL there was a time last year when several institutions such as Goldman Sachs, Deutsche Bank and Merrill Lynch issued covered warrants on blue chips. At that time, the equity market was going well and sensing that there
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    • Article, Illustration
      Lock icon DFI's G'value stores aim for slice of HDB market
      490 8  -  By. Kalpana Rashiwala LISTED retailer Dairy Farm International (DFI) has turned the heat on its rivals by quietly rolling out a new lowpriced supermarket format in Singapore's HDB heartland called G'value. Eight G'value stores started operating earlier this month. The 8,000
      ARTHUR LEE  -  490 words
    • Article
      Lock icon Factors affecting CPI trends in '01
      452 8  -  ■reTCon the economy inflation By, Anna Teo PRICES of retail goods are about the most highly correlated with GDP growth, compared with other items in the consumer price index (CPI) basket. But the key uncertainties in the official inflation forecast for 2001 lie with
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  • REGIONAL news
    • Article
      Lock icon Utama confirms talks to buy 22.7% of RHB Holdings
      470 9  -  Purchase from MRCB would give starting point for merger with RHB Bank Analysts said the purchase price was likely to be above RHB's RM2.28 closing price yesterday. Based on the close, MRCB's stake is worth about 8M240 million. From. Diana Oon
      470 words
    • Article
      Lock icon Bid of RM4.60 per share seen for UEM: report
      458 9 KUALA LUMPUR Takeover offer by Khazanah-led group at 29.2% premium to last trade Reuters A GROUP led by Malaysia's Khazanah Nasional will make a takeover offer for all the shares of United Engineers Malaysia at RM4.60 (552.20) a share, The Edge
      Reuters  -  458 words
    • NOTE Book
      • Article
        Lock icon Hearing on Tan Chong suit in a week
        89 9 Reuters [KUALA LUMPUR] A court will hear arguments in a week's time on whether to throw out a suit seeking to dissolve the parent company of Malaysia's Tan Chong empire over a family dispute, legal sources said yesterday. Tan Chong Consolidated Sdn
        Reuters  -  89 words
      • Article
        Lock icon 2 more APP units to make payments
        88 9 Bloomberg [JAKARTA] Asia Pulp Paper Co said two more of its Indonesian units will make interest payments on their rupiah bonds, even as Asia Pulp has stopped repaying its overseas debt. PT Pabrik Kertaas Tjiwi Kimia and PT Lontar Papyrus Pulp Paper Industry
        Bloomberg  -  88 words
      • Article
        Lock icon Manila bourse launches special board
        60 9 AFP [MANILA] The Philippine Stock Exchange yesterday launched a special board for small and medium companies to help them find less expensive ways of raising capital. The SME (small and medium enterprises) board was launched by President Gloria Arroyo and stock exchange chairman Felipe Yap
        AFP  -  60 words
      • Article
        Lock icon Bank Indonesia may lower rates soon
        76 9 Bloomberg [SINGAPORE] Indonesia's central bank may lower interest rates in August if the country makes a smooth transition to a new administration and signs an accord on a loan from the IMF, a senior official said. "Starting next month we can gradually lower interest
        Bloomberg  -  76 words
    • Article
      Lock icon IOI plans to hang onto Palmco stake: report
      124 9 KUALA LUMPUR AFX 101 Corp intends to hold onto its shares in Palmco Holdings, executive director Yeo How said according to a report in The Sun. 101 and Sime Darby are currently locked in a contest for Palmco, with Sime Darby having
      AFX  -  124 words
    • Article
      Lock icon Affin Holdings blames loss on new unit
      256 9 KUALA LUMPUR Reuters MALAYSIAN financial group Affin Holdings Bhd yesterday posted a net loss for the three months to March 31, making it the only local bank to slip into the red in the first quarter. In much-delayed results, Affin said it posted
      Reuters  -  256 words
    • Article
      Lock icon Large Thai banks hit hard by further bad loan provisions
      708 10 BANGKOK Krung Thai's Q2 losses surge six-fold, Thai Farmers' profit dives 95% Bloomberg KRUNG Thai Bank and other large Thai banks said second-quarter earnings fell on year as the nation's sec-ond-biggest lender and its rivals set aside more against bad
      Bloomberg  -  708 words
    • Article
      Lock icon Jakarta considers BCA sale re-tender
      300 10 JAKARTA Reuters INDONESIA said yesterday it was considering the re-tender of a strategic stake in the country's largest retail bank, Bank Central Asia (BCA), amid allegations of corruption in the sale process. Indonesia's bank restructuring agency (Ibra), which controls the bank, failed to announce the
      Reuters  -  300 words
    • Article, Illustration
      Lock icon No golf, eyes on IPO, Thai petroleum bosses told
      175 10 Reuters [BANGKOK] Bosses at Thailand's state-run petroleum company were told yesterday to cancel all golf games to ensure the company's privatisation plans remain on track. Thai Industry Minister Suriya Jungrungreangkit told Petroleum Authority of Thailand (PTT) managers to spend less time
      Reuters  -  175 words
    • Article
      Lock icon Manila plans 10-fold rise in fine for peso speculation
      199 10 MANILA 300,000 peso penalty if Congress approves Arroyo govt proposal AFP PRESIDENT Gloria Arroyo yesterday said her government will ask Congress to increase tenfold the penalties for speculating against the peso. "Part of the banking legislation we are proposing is to
      AFP  -  199 words
    • ASIA Notes
      • Article
        Lock icon Taiwan growth forecast lowered
        84 11 Reuters [TAIPEI] A prominent Taiwan think-tank yesterday cut its growth forecast for the island's 2001 gross domestic product (GDP) to 2.2 per cent, well below an official forecast of 4.02 per cent and its previous forecast of 4.57 per cent. "Due to lacklustre performance in the
        Reuters  -  84 words
      • Article
        Lock icon China shuts down 2,000 Internet cafes
        64 11 AFX [HONG KONG] Nearly 2,000 Internet cafes across China have been forced to shut down during a recent three-month inspection of more than 56,800 Internet cafes and bars, Xinhua news agency reported from Nanjing. In a despatch monitored here, Xinhua cited preliminary data as
        AFX  -  64 words
      • Article, Illustration
        Lock icon Flood crisis deepens in Orissa
        95 11 Reuters [KENDRAPARA, India] Torrents of water released from a dam charged into flooded coastal areas of eastern India yesterday, adding almost 200,000 people to the tally of six million hit by the disaster. Army boats joined civilian rescuers in the state of Orissa as the
        Reuters; AFP  -  95 words
      • Article
        Lock icon 3,100 Taiwan factories closed in H1
        65 11 AFP [TAIPEI] More than 3,100 Taiwanese factories closed in the six months to June, up 55.3 per cent from a year ago, the economic ministry said yesterday. "The prolonged economic slump has forced many Taiwanese manufacturers either out of business or to shift their
        AFP  -  65 words
      • Article
        Lock icon HK property prices yet to hit bottom
        76 11 AFX [HONG KONG] Residential property prices have yet to hit bottom, with buying interest and confidence only expected to return in 2002, Vigers Hong Kong Ltd chairman and chief executive Gareth Williams said. It will take about six months for potential house buyers
        AFX  -  76 words
      • Article
        Lock icon SEHK to introduce 0.005% trading fee
        48 11 AFX [HONG KONG] The Stock Exchange of Hong Kong said it will introduce a trading fee 0f0.005 per cent per side of the consideration of a transaction from Sept 1. The SEHK said the Securities and Futures Commission has approved the fee.—AFX
        AFX  -  48 words
    • Article
      Lock icon Taiwan warns firms of China pitfalls
      526 11 TAIPEI C&ntion from president's office comes amid call for lifting of curbs Bloomberg TAIWAN warned its companies against doing business in China as it seeks to shore up its slowing economy and discourage the island's businesses from moving factories to the mainland. Widespread corruption
      Bloomberg  -  526 words
    • Article, Illustration
      Lock icon Hutchison pays the price for 3G licence binge
      607 11 HONGKONG Counter is half as expensive as the rest of Hang Seng Index Bloomberg HUTCHISON Whampoa Ltd, whose chairman Li Ka-shing is nicknamed "Superman" for his investing prowess, now has a stock that's half as expensive as the rest of Hong Kong's
      Bloomberg  -  607 words
    • Article
      Lock icon CyberWorks trims bond to US$1.5b, boosts yield
      357 11 HONGKONG Reuters POOR demand has forced embattled telecom and Internet group Pacific Century CyberWorks to slash its debut bond offer to US$l.5 billion and boost its yield to 325 basis points over US Treasuries, sources said yesterday. "They've lopped a billion off the
      Reuters  -  357 words
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      303 9 NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298 f NOTICE OF SPECIAL RESOLUTIONS SINGAPORE FABRICATED OPTICS PTC LTD At an Extraordinary General Meeting of the members of SINGAPORE FABRICATED OPTICS PTE LTD. duly convened and held at 76-6326 Kahetau Street Kailua-kona HI ***** U.S.A. on 20 July
      303 words
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      540 9 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF YENA INC. PTE LTD (MEMBERS' VOLUNTARY LIQUIDATION) FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act (Cap. 50) that the FINAI MEETING of the Members of the obovenamed company will be
      540 words
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      252 9 r IN THE MATTER OF THE 1 COMPANIES ACT, (CHAPTER SO) AND IN THE MATTER OF RE OH ILL COFFEE A EATING HOUSE PTE LTD (In Mimbn' Voluntary Winding Up) notice of final mm NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap. 50 the
      252 words
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      1012 9 ASEAN SUPREME FUND LTD (Incorporated in the Republic of Singapore) The Board of Directors of ASEAN Supreme Fund Ltd wishes to make the following announcement: AUDITED RESULTS FOR THE FINANCIAL YEAR ENDED 30 APRIL 2001 1 May 2000 to 1 May 1999 to 30 Apr 2001 30 Apr 2000 or
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  • FINANCE
    • Article
      Lock icon Futures drift despite cash market gains
      270 10  -  ST Intac/MSd SPpore Index C K Lau Refco Singapore WITH market players active in bargain hunting, Singapore shares bounced back yesterday. The benchmark Straits Times Index ended 11.24 points, or 0.69 per cent, higher at 1,638.08 points. There were 22 gainers and 18 losers,
      270 words
    • Article
      Lock icon Stock rebound lifts futures slightly
      232 10  -  Daniel Wong Refco Singapore TAIWAN stocks saw a technical rebound yesterday with fund managers buying bank stocks on the government's directive. The MSCI Taiwan Stock Index rose 1.75 points, or 0.9 per cent, to end at 196.68 with the turnover at 607.7 million. Gainers led
      232 words
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      Lock icon CURRENCY REPORT
      233 10 Reuters London THE US dollar lost half a per cent against the euro and earlier hit one-month lows against the yen on speculation ahead of the Group of Seven summit that the US could soften its strong dollar policy. Such talk was heightened after President George W Bush
      Reuters  -  233 words
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      Lock icon Untitled
      1257 10 DfTERBAMK CROSS RATES Jui20 A$ CS—fcEwo Ffr Dw HK$ Ind to tapi* Von Wow KM NZ$ Pafc Ks Ptso S$ Band Sfr MT$ Bafct Pwwd US$ Australia 0.793 4.268 0.588 3.857 1.150 4.011 24.231 57.329 0.633 6.715 1.954 1.242 32.745 27.332 0.938 4.246 0.886 17.988 23.530 0 360 0.514 Canada
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    Lock icon COMMODITIES
    1917 11 SICOM FUTURES Jul 20 RUBBER (futures closing as at 5.30pm) RSS1 CONTRACT (S cents/kg) Close Volume Open Month High Low Sett (towns) Interest Aug 01 HO.OO Sep 01 110.00 Oct 01 110.25 Nov 01 m.25 RSS 3 CONTRACT (US cents/kg) Volume OpM Month High Low Sett (tonnes) Intftst Aug
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    Lock icon STOCKS asia
    2788 12 HONG KONG Global Tech 4.00 unch 0 Vot Golden Dragon 0.98 0.02 296 Jul 20 HK$ COOO) Goldwiz Holdings 0.98 -0.02 2842 Great Eagle 10.50 0.15 143 AcrossAsia Multimedia 2.05 unch 592 Great Wall Cyber 0.15 unch 4858 Alpha General 0.04 unch ***** Guangdong Brewery 0.40 0.03 1958
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  • WORLD news
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      Lock icon G-7 expects world growth to pick up later this year
      629 12 6-7 SUMMIT Optimism about US rebound contrasts with less rosy prospects for Europe AFP, Bloomberg [GENOA, Italy] The Group of Seven industrial nations expects world economic growth to accelerate later this year, helped by a rebound in the US, officials
      AFP,; Bloomberg  -  629 words
    • Article
      Lock icon Europe nervous over weak euro, strong US$
      327 12 FRANKFURT AP WORRIES are mounting in Europe that the persistent imbalance between a weak euro and strong dollar could sabotage a global economic recovery, hammering companies with higher costs and boosting prices of US exports overseas. Although not officially on the agenda for
      AP  -  327 words
    • Article
      Lock icon US will be growth engine: O'Neill
      398 12 NEW YORK He is optimistic it will lead the world back to prosperity AFP US Treasury Secretary Paul O'Neill has said that the United States will be the engine of growth to revive the sluggish world economy in 2002. "I remain optimistic that we
      AFP  -  398 words
    • Article, Illustration
      Lock icon Packer sells his 14.9% stake in John Fairfax
      449 12 Reuters [SYDNEY] Australia's richest man Kerry Packer paved the way for a shake-up of the country's media ownership laws yesterday, selling a 14.9 per cent interest in newspaper publisher John Fairfax Holdings Ltd. Analysts said the surprise A 5436 million (*****.7 million)
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    • Article
      Lock icon London Stock Exchange shares fizzle out on debut
      279 12 LONDON Dealers say LSE represents an unknown quantity for investors Reuters THE London Stock Exchange, Europe's largest, took its place as a market-listed company yesterday but shares in the 200-year-old bourse failed to rise to the occasion. The shares fell to 370
      Reuters  -  279 words
    • Article, Illustration
      Lock icon Nortel's US$19.4b loss in line with warning
      481 13 EARNINGS WRAP It took USsl2.3b charge for reduced value of tech firms bought last year Dow Jones Newswires [BRAMPTON, Ontario] Nortel Networks Corp reported a second-quarter loss of US$l9.4 billion, one of the largest in corporate history, as the telecommunicationsequipment maker recorded a
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    • Article
      Lock icon Sun Micro posts loss, avoids precise forecast
      284 13 SAN FRANCISCO Reuters NETWORK computer maker Sun Microsystems Inc on Thursday reported a net loss for its fourth quarter and declined to give a precise forecast for the current period given economic uncertainty. Sun met its own reduced expectations of an operating profit,
      Reuters  -  284 words
    • OTHER Results
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        Lock icon Merck profit growth slows to 5% in Q2
        79 13 Reuters [NEW YORK] Merck Co, the world's No 3 drugmaker, said yesterday its second-quarter profit rose 5 per cent, a marked slowdown from earlier quarters, on sluggish sales and the negative impact of the strong greenback on overseas sales. Merck reported earnings
        Reuters  -  79 words
      • Article
        Lock icon Ebay Q2 gain more than triples
        105 13 Bloomberg [SAN JOSE, California] EBay's second-quarter profit more than tripled as the largest Internet auctioneer attracted more customers and the value of goods sold on its sites surpassed US$2 billion for the first time. Net income rose to U5524.6 million, or 9 US cents
        Bloomberg  -  105 words
      • Article
        Lock icon Commerce One Q2 loss per share triples
        108 13 Reuters [PLEASANTON, California] Commerce One, which makes software that powers online marketplaces, said that excluding charges, it lost US$7O.2 million, or 31 US cents a share in the second quarter, compared with a loss of US$l6.2 million, or 10 US cents a share
        Reuters  -  108 words
      • Article
        Lock icon Ariba Q3 loss narrows to US$274m
        70 13 Bloomberg [SUNNYVALE, California] Ariba, whose software helps companies buy and sell goods on the Internet, said its loss for the third-quarter ended June narrowed to U*****.5 million, or US$l.lO a share, from U*****.2 million, or US$l.45, a year earlier. It also announced, without giving
        Bloomberg  -  70 words
      • Article
        Lock icon UPS Q2 profit falls 9%; no relief seen
        72 13 AP [ATLANTA] United Parcel Service reported a 9 per cent drop in second-quarter profits and warned that it sees no impending relief from a lacklustre economy that has hurt demand for the delivery of goods. UPS said it earned US$63O million, or
        AP  -  72 words
    • Article
      Lock icon Microsoft sees PC demand worsening in Q3
      373 13 NEW YORK NYT MICROSOFT Corp reported solid gains in quarterly revenues and operating profits Thursday, but the company said that it expected the personal computer business to worsen further in the current quarter. John Connors, Microsoft's chief financial officer, said that during the
      NYT  -  373 words
    • Article
      Lock icon Ericsson posts Q2 loss of 5.3b kronor
      542 13 STOCKHOLM It lowers outlook for network equipment market this year Bloomberg ERICSSON AB, the biggest maker of wireless networks, posted a second-quarter loss, dragged down by its moneylosing handset unit. The Swedish company lowered its outlook for the equipment market this year. Pre-tax
      Bloomberg  -  542 words
    • Article
      Lock icon Samsung's Q2 net falls to 880b won
      283 13 SEOUL Dow Jones SAMSUNG Electronics Co of South Korea said yesterday it recorded a net profit of 880 billion won (Ssl.2 billion) in the second quarter this year, down 30 per cent on quarter. Despite the plunge, Samsung's net figure during the April-June
      Dow Jones  -  283 words
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  • Article
    Lock icon STOCKS asia
    3640 13 KUALA LUMPUR Vol Jut 20 RM COOP) Abric .2.09 0.03 446 Affin Holdings 0.30 unch 49 AIC Corp 3.58 unch 86 AKN Technology -3.52 -0.06 3 Aluminium Co of M'sia 1.09 -0.04 39 Amal Industrial Steel 0.67 0.02 72 Amanah Capital 1.30 0.07 1698 AMOev Bd5.5%16Feb02....0.14 -0.01 82
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  • Article
    Lock icon BT SHARE information service
    4779 14 Mat Mm EPS LCDev 8-Mar I 4.469 2.633 044 0.38 Oat* TY LY TY LY Lee Hwa 23-Mar P 1.134 4.465 1.09 443 Company am ($m) <»m) (ct«) (cts) Leong Htn 21-Mer P 3.6651 1.645L 24L 1.4L 1B 1 1E 1 LHT Hldqs 29-Mar P 0
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    Lock icon SGX clob
    2660 14 BONDS WARRANTS Jul 20 Wt Wrab fnm/ Ufln S2 IM Lot V«l Dey LnHkMte tq tend Can Cur Hk MUb Lot 1 SO* ««r- ('MO) W|k Lot »T» W» <—Mce (%> Ml 39.5 27 s ASTIW*****1 27.5 -1 318 28.5 27 27 27.5 29 26.4 1 16 12
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  • e News
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      Lock icon 'Code Red' virus seen taking aim at White House website
      370 15 LOS ANGELES Govt takes preventive steps as experts see virus spurring 'denial of service' attack Reuters A NEW Internet virus nicknamed "Code Red" appears to be programming thousands of computer drones to launch an all-out cyber attack on the White
      Reuters  -  370 words
  • Article
    Lock icon STOCKS sgx
    8239 15 SGXMA1MB0ARP Or Gr M MR Ust Vol Day Last Quote Mv Div YM Nat Ca An Hi» tow Company Sala W- (DOB) Hk» low Buyr Mja S Cvr HI S«3i Prtca MULTI-INDUSTRY 143 35 cAcmaSOc 40 unch 43 40 39 39 40 0.5 19.9 0.6 10.5 69.4 40
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  • BT motoring
    • Article, Illustration
      Lock icon Topless in Singapore
      1830 16  -  There are three reasons to be thankful for the dry spell, and Christopher tam puts them all to the test CHRISTOPHER TAN s '"A-u ONE of the downsides of this job comes with having to return a remarkable car after spending a weekend with it. Over the
      1,830 words
    • BUMPER to BUMPER
      • Article
        Lock icon BMW bags 5 awards
        89 16 BMW has scooped five of the 12 spots at the prestigious International Engine of the Year Awards, including the pinnacle accolade "International Engine of the Year 2001", the overall champion. The awards, initiated by Engine Technology International magazine in 1999, were judged by 38 motor journalists
        89 words
      • Article
        Lock icon Car & Cars opens service centre
        71 16 Car Cars opens service centre VOLKSWAGEN distributor Car Cars' new service centre was officially opened on Wednesday. Located just behind its showroom, the 20,000 sq ft facility has 17 work bays, a VW boutique and a customer lounge. This will enable Car Cars to service about 50 cars a day,
        71 words
      • Article
        Lock icon BMW plans 1b euro plant in Leipzig
        105 16 BMW has decided to build a new plant in Leipzig, in the former East Germany. The one billion euro (Ssl.6 billion) plant, within sight of the Leipzig Trade Fair and spread over 200 hectares, will be used to produce the 3-series. The current
        105 words
      • Article
        Lock icon Audi records best H1 sales ever
        105 16 AUDI has reported its best first-half sales and revenue in history. Revenue in the first six months rose by 14.5 per cent instead of the estimated 13.7 per cent to around 22.35 billion Deutschemarks (5518.2 billion). Vehicle sales improved on the previous year by
        105 words
      • Article
        Lock icon Saab wins safety achievement award
        52 16 SAAB was recognised at the 2001 World Traffic Safety Symposium as the winner of the 2001 Safety Achievement Award based on its development and implementation of the Saab Active Head Restraint. This system is designed to protect front-seat occupants against whiplash-related injuries resulting from a
        52 words
      • Article
        Lock icon Sachs' 'karate' scheme for workshops
        59 16  -  Compiled by Christopher Tan EQUIPMENT maker Sachs has introduced a "karate black-belt programme" for motor workshops here. Implemented in Europe, the German company's concept encourages workshops to form "strategic alliances" with equipment makers for knowledge and expertise sharing. As they improve, these Sachs-linked workshops will
        59 words
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  • BIZ woman
    • Article, Illustration
      Lock icon Young and restless
      896 17  -  parvathi mayar gets under the skin of Wendy Ng, the 29-year-old artistic director of SRT Young Company, who is on a high from having three plays opening this week PARVATHI NAYAR WENDY Ng, artistic director of the SRT Young Company run by the Singapore Repertory Theatre (SRT)
      ARTHUR LEE  -  896 words
  • THE arts
    • Article, Illustration
      Lock icon Taking to the international stage
      431 17  -  The frequency of S'pore Chinese opera tronpes' overseas performances is sign of their success By i Cheah Ui-Hoon WHILE Singapore's art companies are no strangers to the global stage with their performances abroad, it's the Chinese opera troupes which could well be the most widely-trav-elled
      FILE PHOTO  -  431 words
    • Article
      Lock icon THE PROGRAMME
      483 17  -  Compiled by 1 Aaron Lye MUSIC Texas Girts' Choir At Chijmes The widely-travelled choir will perform a repertoire of classical, baroque and contemporary music. Tomorrow, spm, Chijmes Lawn. Admission is free. Asia South Pacific Symposium on Choral Music A week-long event bringing together the best in choral music
      483 words
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      6 17 Ticket hotlines Sistic: 348-5555 Ticketcharge: 296-2929
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      Lock icon Page 17 Advertisements Column 2
      818 17 SPECIAL INTERESTS The Straits Times Classified. Classifications 52 86. \ca.ts.\ Buy It. Sdl it. Fmd It. ASEAN FUND LIMITED (Incorporated in the Republic of Singapore) The Board of Directors of ASEAN Fund Limited wishes to make the following announcement: UNAUDITED RESULTS FOR THE HALF YEAR ENDED 30 APRIL 2001 1
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  • Page 17 Miscellaneous
    • Miscellaneous
      Lock icon Page 17 Miscellaneous Column 1
      283 17 CRYPTIC CROSSWORD ACROSS 6 Annually not opening in 1 Bread roll in the till? (4,8) advance (5) 8 Indian vehicle in the Friendly 7 Average light for one raising Islands (5) bulbs indoors (8,4) 9 Carpal decline after taking 10 P-pipe?(s,7) lead?(s,4) 14 Person who can not get off in
      283 words
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  • EXECUTIVE Arts
    • Article, Illustration
      Lock icon Feel the moves
      1490 18  -  Good choreography is not just about the creator's talent, audiences should also feel the movement of the dance. cheahui-hoom talks to choreographers of upcoming contemporary works about what make them tick CHEAHUI-HOON DESPITE being one of the youngest and relatively "smallest" art forms in Singapore, the local
      1,490 words
    • Article, Illustration
      Lock icon The trouble with getting physical
      774 18  -  Two ongoing performances The Seventh Drawer and The White Road show that while physical theatre offers room for edgy exploration, it can be extremely distracting when used as an end in itself, says PARVATHI nayar PARVATHI NAYAR PHYSICAL theatre has been making its presence felt,
      FILE PHOTO  -  774 words