The Business Times, 18 August 2001

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Total Pages: 16
1 16 The Business Times
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  • Title Section
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    22 1 THE BUSINESS TIMES MITA (P) 107^03/2001 Internet: http://business-times.asial.com.sg/ S I N G A P O R E SATURDAY, AUGUST 18. 2001 85c
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  • Article
    Lock icon MARKET SUMMARY
    73 1 wm sti UuMJ9(+2.O9) n K4m 11 MU7 (-0.79) PISrHOBFiniIKES U MH7JN (+2.00) Wtwaarmmss mm m* (-1.00) S1WX basket Dunns Frtday Change USE COUP <H7I__+U1 MKKH 226 *****14 Mffl HANG SENG 11.7H81 -77 Jl SET INDEX tHH +6.48 JAKABTA COMP MANILA COMP_l*117 -1MK TAIPEI WP! 4jmM -4817 SEOUL CPMP
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  • Article
    Lock icon FINANCE
    79 1  -  INI FOBEX KATES us$ St lWf»p*OBI) L7S1 I(B»Wp«I) 1.441 UM EUBOfUSt/SI/E) 0J11 LW DM 1147 L» TBI 1»J KM KM MM 1179 Bit im 4.4M BAJFT 44.68 tU2 B3PIAB 8,760 4JW 'SS to 100 m*U» *.SS to 100 units FUME BATES SINGAPORE* 5J» KUALA LUMPUR 7.«7 JAKARTA .3900 BANGKOK
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  • Article
    Lock icon Analysts appalled by July's 24% export fall
    793 1  -  They say record annual drop means GDP forecast likely to be cnt again By\ Chuang Peck Ming [SINGAPORE] It's gotten worse and worse. Singapore's non-oil domestic exports plunged further in July by 24.2 per cent over a year ago, exceeding even the most
    793 words
  • Article
    Lock icon With 83% in the bag, UOB likely to clinch 90% of OUB
    643 1  -  Offer extended by two weeks, and is still conditional By. Angela Tan [SINGAPORE] Delighted United Overseas Bank (UOB) executives said last night that, as of 5 pm yesterday, the bank had secured a 82.73 per cent stake in
    643 words
  • Article
    Lock icon GIC to manage its own hedge funds?
    603 1  -  idexclusive It is likely to invest in global hedge fond of fnnds to spread risk From] Neil Behrmann in London THE Government of Singapore Investment Corporation (GIC), which is now entering the esoteric world of hedge funds, could set up its own hedge
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      Lock icon Page 1 Advertisements Column 1
      99 1 inauiE Top Stories S'pore can produce world-class mediumsized firms: SM Lee. Miit Pmgm j Japanese finance ministry's verbal interventions ruffle forex markets Pg 11 OCBC takes control of KCH, appoints i new chairman, CEO and board. Pg 3 «P: ft «Oakwell Engineering considering debt-free plan. Pg MAS should loosen Sing
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      9 1 Electronics export* pes? 32.5% decline in July, Next Page
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      49 1 I Singapore-born Lau Siew Mei's IiIVGStOrS acclaimed book fIGXt I pulls no punches when it comes to its > I critical portrayal of government week 4 '-iizVVoman, P:",u 15 Page 3 COMMENTARY Indonesia gets 2nd chance at economic recovery Hubert Neiss. Page 10 Stock gambles: Corporate China hit Paj;e 10
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      80 1 L ;*2 K'. -k i\ r£*-',T ■niL.i£ v- d*g'— ■V snHnnßliK BF J» w -it 1 AI •T7 X^/ /7)^* Wriatwatch Marina "Mora Mundi* to 18-carat yellow gold, with Indication ot the 24 time zonal Salt- /> -v winding movamant with data calandar and cantra aaconds hand Silvarad gold dial,
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    • ON THE grapevine
      • Article
        Lock icon Wisdom of the Mogambo Guru
        101 2 WE'VE featured the refreshingly different views expounded in the US investment newsletter The Mogambo Guru in this column before. Here's the July 31 offering: "The European Central Bank refused to drop interest rates because inflation there is greater than 2 per cent. What integrity! And
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      • Article
        Lock icon Lawyers at Cooma, Lau & Loh move on
        183 2 Lawyers at Cooma, Lau Loh move on THE law firm of Cooma, Lau Loh has ceased to exist. The partnership, which was formed in 1978 and at its peak had about 40 lawyers, has been dissolved and its legal staff of about two dozen are going their separate ways. Senior
        183 words
    • Article
      Lock icon Corrections
      103 2 Our report yesterday, "Troubled developer's Geylang sites: one of 2 sold", said the Lorong 35 Geylang site was sold for about $9 million. The $9 million figure was wrongly attributed to Knight Frank. It was in fact based on market expectations. And in Thursday's report "Mendaki Capital Protected Fund
      103 words
    • Article, Illustration
      Lock icon S'pore can produce world-class medium-sized firms, says SM
      662 2  -  He warns of more job cuts as MNCs and S'pore companies shift to China By\ Eugene Low [SINGAPORE] It will be tough for Singapore's small population to produce more large, world-beating companies. But Singapore can aim to have more internationally successful medium-sized
      LAU FOOK KONG/ST  -  662 words
    • Article
      Lock icon Electronics exports post 32.5% decline in July
      429 2  -  the economy electronics Depressed global demand cause steep fall; worst may not be over yet: analysts By I Serena Ng [SINGAPORE] Depressed global demand dragged down Singapore's electronics exports 32.5 per cent in July from the same month a year earlier. The steeper-than-expected
      429 words
    • Article
      Lock icon Bush govt supports idea of forming an Asian Monetary Fund: US official
      422 2 Reuters [SYDNEY] The administration of President George W Bush would support the future establishment of an Asian IMF, a senior US official said yesterday. Deputy Secretary of State Richard Armitage said regional speculation about an eventual Asian Monetary
      Reuters  -  422 words
    • Article
      Lock icon APP, directors face US suit for fraud
      540 2 Arthur Andersen also sued for inadequate audit Bloomberg [NEW YORK] Singaporebased Asia Pulp Paper Co and eight of its directors are being sued in the US for defrauding shareholders by allegedly making false statements that inflated the company's stock price. Also being sued
      Bloomberg  -  540 words
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      94 2 Since 1975 our worldwide staff of over 275 multi disciplined professionals ■> F at' including lawyers, chartered accountants T chartered secretaries and bankers have k V P rov,clecl confidential and cost effective K JB company formation in all the ma|or low jflf tax areas including Incorporation Fees from USS500 The
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  • SINGAPORE companies
    • Article, Illustration
      Lock icon SIAS to hear from Links investors
      694 3  -  Hearing to review settlement formula, discuss redress options By Serena Ng THE Securities Investors Association of Singapore (SIAS) will hear the views of aggrieved Links Island investors on Wednesday, after which it will make representations to the Singapore Exchange. SIAS president David Gerald told
      FILE PHOTO  -  694 words
    • Article, Illustration
      Lock icon OCBC takes over helm at Keppel Capital
      416 3  -  New directors named for Keppel Capital, Keppel Tat Lee Bank Byk Angela Tan IN a move to ensure swift integration, OCBC Bank announced yesterday that it had appointed new directors to the board of Keppel Capital Holdings (KCH) and Keppel Tat Lee Bank
      416 words
    • Article
      Lock icon OCBC share outlook uncertain, post-KCH
      748 3  -  By\ Ling Su Ann SHARES of OCBC Bank will go through a testing time when it debuts as a merged entity after completing the takeover of Keppel Capital Holdings (KCH). And the long-term outlook is likely to be dragged down by the re-weighting of bank
      748 words
    • Article
      Lock icon Property firms: more guidance needed
      723 3  -  PTT«!ff?3 lock siew kalpana rashiwala CAPITALAND'S recent announcement of a shock $508 million residential property provision shows how difficult the business of forecasting results has become. Most analysts had expected the property giant to be profitable at half and full time. Instead, the provisions resulted
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    • Article, Illustration
      Lock icon Investment banks out to make the most of S'pore M&A flurry
      530 3 M&A volume so far this year already doable that of last year; more expected Bloomberg SIMPLE math may have convinced Henry Paulson, chairman of Goldman Sachs Group Inc. to travel the 9,500 miles from his New York office last
      Bloomberg  -  530 words
    • Article, Illustration
      Lock icon SIA's FY02 earnings to get $265m boost
      395 5  -  Fillip comes from a change in aircraft depreciation policy By< Conrad Raj SINGAPORE Airlines will boost its current financial year's earnings by $265 million by stretching the depreciation period of its aircraft, spares and engine spares. It will now lengthen the depreciation period
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    • Article
      Lock icon NatSteel may post $84m loss in H1: Kim Eng
      395 5  -  Exceptional {Sains won't help performance, says report by brokerage By\ David Boey NATSTEEL Ltd could turn in an $84 million loss for its six months ended June 30 at its results briefing next week, said Kim Eng Securities in a research
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    • Article
      Lock icon US State Dept nod for SingTel's bid for Optus: report
      333 5 Bloomberg [SYDNEY] Singapore Telecommunications Ltd's Asls billion (5513.8 billion) bid for Cable Wireless Optus Ltd has gained approval from the US Department of State, the Sydney Morning Herald reported yesterday, citing unidentified sources. Sing Tel won't need to procure new
      Bloomberg  -  333 words
    • Article
      Lock icon Pan-United posts 103% rise in H1 gain to $9m
      301 5 MARINE group Pan-United Corp yesterday reported a 103 per cent jump in first half 2001 net profit to $8.9 million on the back of a 54 per cent rise in turnover to $118.3 million. The group said the higher turnover was
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    • COMPANY Briefs
      • Article
        Lock icon Cyber Village clarifies on tax
        84 6 CYBER Village Holdings has clarified that it does not enjoy a "10-year tax free" privilege as stated in part of its IPO presentation material. "The correct position is that Cyber Village Sdn Bhd, being a Pioneer Status company, is entitled to enjoy certain tax benefits,
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      • Article
        Lock icon Lian Bene boys Deenn Engg for $3.5m
        46 6 CONSTRUCTION firm Lian Beng Group Ltd said it has acquired Deenn Engineering, a privately held company, for $3.5 million. Lian Beng said the deal would be funded by internal resources. Deenn has about $225 million in contracts on hand.
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      • Article
        Lock icon SIA sells holdings In Equant for $29.2m
        71 6 AFX SINGAPORE Airlines said it sold its entire holdings in Equant NV, involving 786,331 shares, for $29.2 million in July in connection with France Telecom's acquisition of Equant. SIA said it will book a gain of $29 million on the sale of the
        AFX  -  71 words
      • Article
        Lock icon Apollo narrows H1loss to 1.32m
        53 6 Reuters APOLLO Enterprises' first half2ool net loss has narrowed to $1.32 million from $1.96 million a year ago. Turnover was $26.58 million compared to $26.02 million. Apollo is engaged in hotel management and property development. Its directors expect the performance this year to be similar
        Reuters  -  53 words
      • Article
        Lock icon Eastern Publishing sees better results
        93 6 AFX EASTERN Publishing Ltd said it expects 2001 results to be better than last year despite the economic recession. "Although Singapore is in the midst of a recession, the group expects to be profitable, turning in better results than last year's as the group continues
        AFX  -  93 words
      • Article
        Lock icon Dragon Land re-takes club stake
        101 6 AFX DRAGON Land Ltd, an associate of Keppel Land, said its unit Qingdao Huashan International Country Club Co Ltd has taken up an option to re-acquire a 10 per cent stake in Qingdao Huashan International Country Club Course, an 18-hole golf course in China, from
        AFX  -  101 words
      • Article
        Lock icon Smedvig Asia plans to buy stake in rig
        72 6 Reuters KEPPEL Hitachi Zosen Ltd said yesterday that Smedvlg Asia intends to exercise its option to purchase the Singapore ship repair specialist's Interest in a tender rig for US$6l.5 million. Keppel Hitachi said in a statement that Smedvlg, a unit of Norway's
        Reuters  -  72 words
    • Article, Illustration
      Lock icon Oakwell mulls scheme to make it debt-free
      518 6  -  Share placement, funds from investors among possible escape routes By Grace Ng OAKWELL Engineering, confronted with a bankruptcy petition by Fleet National Bank, is considering a scheme of arrangement which may pave the way for the company to be debt-free within eight years.
      FILE PHOTO  -  518 words
    • Article
      Lock icon F&N rises to two-month high on share buyback news
      398 6 Bloomberg FRASER Neave shares rose to a two-month intra-day high on Thursday after the Singapore diversified company said it will begin buying back as much as 5 per cent of its stock over the next six to seven months. Shares rose
      Bloomberg  -  398 words
    • Article, Illustration
      Lock icon MD sells 10% stake in Hong Lai Huat
      310 6  -  By\ Rachel Ong JOHNNY Ong, the managing director of mainboard-listed construction group Hong Lai Huat, said he had sold a 10 per cent stake in the company to two Taiwanese firms, Yu Tai Industrial Corporation and Chiloo Industries, for $4.66 mlUlon. The
      RICHARD CHNG  -  310 words
    • Article
      Lock icon ST Engg unit forms JV with Teraforce
      154 6 SINGAPORE Technologies Engineering said its unit ST Electronics has entered into an agreement with US-based Teraforce Technology Corp to form a joint venture company in line with its technology development and market expansion plans. The Joint-venture company, called Intelect Technologies Inc, will have
      154 words
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      121 3 l lorriil y ■V of Mx-tuic Srkool Enlightening. inspiring. That's just the courses. Wait until you meet the faculty. Slngoporo firing and Ntwrtw 26 2001 > Rnancatortia Norvtnanaai Managar February 25 MarcM, 2002 Hong Kong WSKi jfl > NagoMlon SMbpaa A SMk: AuguM 22 24. 2001 Dart Making and DMputo
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  • SINGAPORE markets
    • Article
      Lock icon Untitled
      298 4 PNEMlOc 8,091,000 NOL 8,653,000 Single) 15c 8,250,000 OronllndlOc 8,186,000 Asia Food&Prop 7,090,000 TPVUSlC 6,355,000 UntfoodHK25c 6,136,000 PacfflcCenturylOc 5,492,000 U06 5,024,000 CT HKlOc 5,000,000 uoe 53,313,300 0U6 46,465,530 Omni Jnd 10c 294.99,100 DatacraftlOc 26,752,320 DBSGrp 22,433,400 SingTel 15c 15,454,250 VeotureMHs25c 14,240,610 Chart Semiconductor 26c 11.309,484 0C8C 9,703,300 SPH 9,262,500 •taaha OH
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    • Article, Illustration
      Lock icon Trading slow, with Omni's fall the only talking point
      641 4  -  i I comment STOCKS r. sivanithy s y HEY sh uid W have cancelled wW f 1 Friday due to a lack of interest and gone straight to Saturday," a disil- lusioned dealhL er said yesterday after a session in which
      641 words
    • Article, Illustration
      Lock icon Strike Engg wrt worth second look
      186 4  -  WARRANT WATCH By R Sivanithy ONLY six of the top 20 percentage gainers on the local bourse yesterday were warrants, which is a pathetic number considering that virtually all of them are coming off a low base. It's yet another indication of how bearish
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    • Article, Illustration
      Lock icon KepCorp stock seen bottoming
      229 4  -  HOT STOCK By Woog Wei Kong SHARES of Keppel Corp rose slightly in light trading yesterday, with some indications the stock may be bottoming out. The counter closed two cents higher at $3.36 after opening at a day-low of $3.34 and trading to a day-high of
      229 words
    • Article, Illustration
      Lock icon US dollar earns a weekend breather
      537 4  -  I-11 comment CURRENCIES But all eyes are on effect of an expected Fed rate cnt next week larry wee THE US dollar enjoyed a respite yesterday after being sold down heavily for most of this week, but players are asking if the fever has
      Source: Reuters  -  537 words
  • Article
    Lock icon UNIT TRUSTS & FUNDS
    2894 4 UNIT TRUSTS FUNDS Akerdeen Asset Mgt Asia Ltd Aberdeen Select Portfolio: China Opportunities Fdl** 0.885 0.930 Global MNCFd 0.668 0.702 Global Technology Fdl** 0.517 0.544 UK Blue Chip Fd!** 0.703 0.739 American OpportFd 0.759 0.796 Corn Euro Eqty Fdl** 0.973 1.023 Japan Eqty Fdl** 1.071 1.125 Asian Fixed Income Fd
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  • Article
    Lock icon BT SHARE information service
    3348 5 T*T 30- Jul I 177* H412 IS 2.9 Data TV tH TV IV KDangGuan 2*-Jul P UHL 2JN <11 24.9 riw>wi SaM «M M) 4M KknCng »Jwr p ***** 9X5*9 X*1 <439 Wig Man M-Jw P J.933 UN 291 AC! Dynamics O-May P OIK 17*9 0J9
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      272 6 fflJ&iA Pacific HllRPMaritime 2001 InHf 1 rj »v; i the Premier Maritime Event r out to vital markets with Shipping Times, the Official Newspaper r As/a Pacific Maritime, one of the shipping industry's most prestigious events, is to sail into Singapore 1 p| from sto 7 September 2001. And with
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      1313 6 Notices IN THE MATTER OF THE COMPANIES ACT. CAP. 50 AND IN THE MATTER OF BMOQOLOCN FOOO SERVICES PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF SPECIAL RESOLUTIONS At an EtiraorOnary General Misting of the Merrtter* ot tie Company duh oon*ened and Hat) at 2 Frtayaon Green tl3-MA Am Inauranoa
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      90 6 IN THE MATTER OF THE COMPANIES ACT, CAP 50 ANO IN THE MATTER OF WANYE INC. PTE LTD (In Members' Voluntary Liquidation) NOTICE IS HEREBY GIVEN that the FINAL MEETING of the abovenamed Company will be held at 371 Beach Road *19-06 Keypoint, Singapore *****7 on 18th September 2001 at
      90 words
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  • SINGAPORE news
    • Article
      Lock icon MAS should loosen Sing policy: ING
      487 7  -  Current downturn more severe than in 1998, argues its senior regional economist By' Vikram Khanna THE Monetary Authority of Singapore (MAS) should switch from its current "neutral" bias to a "loosening bias" in its management of the Singapore dollar, a senior economist from a
      487 words
    • Article
      Lock icon Earn points, pay premiums with new Prudential PruCard
      339 7 NOW you can pay your life insurance premiums by accumulating reward points earned on credit card spending—through the PruCard, launched on Thursday. Prudential and Standard Chartered Bank have come up with the Prudential Visa/ MasterCard that will enhance and replace the Prudential
      339 words
    • Article
      Lock icon PC industry at bottom: Koh Boon Hwee
      503 7  -  He says technology recovery more likely in second half of next year By' Teh Hooi Ling THE personal computer industry has bottomed but not the semiconductor ortelecom equipment industries, prominent technopreneur Koh Boon Hwee said yesterday. "I don't believe the semiconductor industry has
      503 words
    • Article, Illustration
      Lock icon Premas plans IPO within next 5 years
      361 7  -  By Vince Chong PROPERTY services and management firm Premas International has plans to go public within the next five years. Premas chief executive Anthony Seah said yesterday that listing plans have always been on the cards as many firms in the Singapore Technologies
      361 words
    • Article
      Lock icon Survey finds more S'poreans are logging on to government websites
      338 7  -  This shows govt initiative to boost IT in the public sector is making headway By] Eugene Low MORE Singaporeans are logging on to government websites, Internet research firm ACNlelsen eßatings.com has found. A survey of 4,000 people surfing the Net
      338 words
    • Article, Illustration
      Lock icon Investment manager wins Swiss sojourn
      232 7 INVESTMENT manager Serene Ong has won a trip to Switzerland's annual watch fair the first prize in the AIHH contest. She was all smiles as she collected her prize worth $8,000 yesterday. "I was just flipping through the newspaper supplement when I saw the contest.
      ARTHUR LEE  -  232 words
    • Article
      Lock icon BG Yeo to lead trip to Western China
      203 7 TRADE and Industry Minister George Yeo will lead an exploratory business mission to western China this month. He will be accompanied by representatives of 26 companies from the infrastructure services, tourism, trading and education sectors. With them will be several MPS, plus
      203 words
    • Article
      Lock icon New govt portal to pair businesses
      268 7  -  By Bryan Lee THE Productivity and Standards Board (PSB) yesterday launched its partner Singapore portal to help businesses here find foreign business partners and vice versa. The website offers information on company profiles as well as contacts of business service providers, including video conferencing,
      268 words
    • Article
      Lock icon 2 groups criticise health minister's hairdo remark
      312 7 HEALTH Minister Lim Hng Kiang's advice to women to save on hairdo and use the money for breast checkup has drawn fire from the Association of Women for Action and Research (Aware) and the Singapore Nurses Association (SNA). In a joint statement issued
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    • Article
      Lock icon Hedge funds anchor the markets
      234 7  -  MAIUiEHM Derek Jaskulski Portland, Maine, USA via Internet I REFER to your article "Will hedge funds become a night, mare on Wall Street?" by Anthony Rowley (Hock Lock Slew, BT, Aug 10) which was based on an interview with David Hale, chief global economist at
      234 words
    • Article
      Lock icon Grow up and give ministers their due
      120 7  -  Dr Lee Chun Wah Associate professor, NTU Singapore I refer to the letter "Pay Cut for ministers: Just Do It" by Lu Kee Hong (Mailbag, Aug 15). I am sure people are interested in how much pay cut our ministers will be taking
      120 words
    • Article
      Lock icon Minister's hairdo comment an insult to S'pore women
      143 7  -  Long Peng Yang Singapore I REFER to the exchange between Minister for Health Lim Hng Kiang and MP Lily Neo during the parliamentary session held on Aug 13, which was broadcast on the evening news. Dr Neo had asked the minister to
      143 words
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      66 7 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*****s. We need your full name, address and telephone number, so We can verify it came from you. Please uee temperate language, and bear in mind
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  • REGIONAL news
    • Article, Illustration
      Lock icon Tenaga also interested in S'pore power stations: report
      671 8  -  A memorandum with details is expected in Nov, actual sales next yean sources By] Ronnie Lim FOREIGN interest in Singapore's power stations is hotting up with Malaysia's national power company, Tenaga Nasional, saying yesterday it was keen to bid for the stations
      TUAS POWER  -  671 words
    • Article
      Lock icon M'sian Airports said to be near to MOU with Schiphol
      416 8 KUALA LUMPUR Dow Jones Newswires THE Malaysian government is on the verge of signing a preliminary agreement to sell a 30 per cent stake in Malaysia Airports Holdings Bhd to Dutch airport operator Schiphol Group, people familiar with the deal
      Dow Jones Newswires  -  416 words
    • Article
      Lock icon Pos M'sia deal may go ahead: report
      285 8 KUALA LUMPUR Sale U Phileo may involve Bank Simpanan; CEO on Phileo's board AFX THE Malaysian government is expected to proceed with the sale of Pos Malaysia Bhd to Phileo Allied Bhd, but with the involvement of Bank Simpanan Nasional Bhd as a
      AFX  -  285 words
    • Article, Illustration
      Lock icon Prince Jefri agrees to accept debtor's summons
      390 9 BANDAR SERI BEGAWAN Move heads off publication of summons in papers in Brnnei, London AP PRINCE Jefri Bolkiah of Brunei has decided to accept a legal notice from creditors seeking to recover US$l billion owed to them, heading off publication of the summons
      AP; FILE PHOTO  -  390 words
    • Article
      Lock icon Thaksin rebuffs IMF suggestion on rates
      604 9 BANGKOK Th&i PM rules out any more cuts, saying rates are already quite low Reuters PRIME Minister Thaksin Shinawatra yesterday rebuffed an International Monetary Fund (IMF) suggestion that Thailand should not rule out cutting interest rates, saying rates were already low enough despite the
      Reuters  -  604 words
    • Article
      Lock icon Pelepas invites S'pore ports to tackle competition together
      391 9  -  Both parties can cooperate for mutual benefit, it says From Eddie Toh in Kuala Lumpur THE Port of Tanjung Pelepas, which won over Maersk Sealand from Singapore's PSA Corporation last year, has called for cooperation between the two countries' ports amid a
      391 words
    • LATE Briefs
      • Article
        Lock icon Police unearth mass grave in Aceh
        50 9 Reuters [LHOKSEUMAWE, Indonesia] Indonesian police said yesterday they had unearthed a mass grave with 48 bodies in Aoeh. The find was announced shortly after President Megawati Sukarnoputri apologised to the province for decades of human rights abuses but ruled out any option for independence.—Reuters
        Reuters  -  50 words
      • Article
        Lock icon Manila may hike penalties
        33 9 AFX [MANILA] President Gloria Macapagal Arroyo said the government is considering increasing the penalties imposed on currency speculators and possibly nmrgtng them with economic sabotage for graver offenses. —AFX
        AFX  -  33 words
      • Article
        Lock icon Malaysia's Q1 unemployment rate up 4%
        50 9 Bloomberg [KUALA LUMPUR] Malaysia's unemployment rate rose in the first quarter to its highest in more than two years as electronics companies and other exporters laid off workers. Unemployment rose to 4 pa- cent in die first quarter, the highest since March 1998. —Bloomberg
        Bloomberg  -  50 words
      • Article
        Lock icon M'sia opposition alliance faces split
        62 9 AFP [KUALA LUMPUR] Malaysia's opposition alliance feces a split this weekend as an ethnic-Chinese party debates pulling out over fears of Islamic extremism, an official said yesterday. The Alternative Front alliance has been at the crossroads for months over a declaration by its dominant member,
        AFP  -  62 words
      • Article
        Lock icon Pertamina in talks with Caltex S*pore
        61 9 Reuters [JAKARTA] Indonesia's state oil firm Pertamina said yesterday it was in talks with Caltex Singapore Ltd to secure a deal to process crude oiL "If a deal is agreed, we hope we can cooperate for the processing of 1.8 million barrels per month
        Reuters  -  61 words
    • Article
      Lock icon Corporate China hit as stock investments unravel
      686 10 Looms from reinvesting fnnds from slum sales will weigh on companies Bloomberg [SHANGHAI] China's biggest maker of dump trucks spent all of the US$3.5 million (SJ6.I million) it earned last year to buy local stocks, betting they would repeat last year's world- beating
      Bloomberg  -  686 words
    • Article
      Lock icon CSFB unit still under probe by India watchdog
      214 10 BOMBAY Bloomberg INDIA'S market watchdog is still pursuing an investigation into the stockbroking arm of Credit Suisse First Boston (CSFB) after banning it for alleged share-price manipulation. The Securities and Exchange Board of India sought clarifications from Credit Suisse (India) Securities Ltd
      Bloomberg  -  214 words
    • ASIA Notes
      • Article
        Lock icon Steady yuan 'at least until next year'
        86 10 AFX-Asia [HONG KONG] The yuan will retain its value "at least until next year when the period of the administration comes to an end", China Daily reported, citing an article in today's Wen Wei Po newspaper. The global slowdown has hit China's foreign
        AFX-Asia  -  86 words
      • Article
        Lock icon CSFB fires 18 Asia investment bankers
        76 10 Bloomberg [HONG KONG] Credit Suisse First Boston fired 18 investment bankers in Asia as it cuts costs in the face of the global economic slowdown and trims staff added by acquisition last year. CSFB, which completed its US$l3.4 billion acquisition of Donaldson, Lufkin Jenrette
        Bloomberg  -  76 words
      • Article
        Lock icon China to allow free movement of labour
        71 10 Reuters [BEIJING] China will scrap policies limiting the movement of labour in the next Ave years as Beijing tries to find jobs for tens of millions of jobless rural workers, Xinhua news agency said. The State Development Planning Commission plans to end the
        Reuters  -  71 words
    • Article
      Lock icon Indonesia gets second chance at economic recovery
      1032 10  -  COMMENTARY By\ Hubert Neiss The writer, formerly with the IMF, is now chairman (Asia) of Deutsche Bank AG THOSE of us who have observed the sometimes convoluted path of Indonesia's recent economic history have seen several turning points that provided opportunities for a
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    • Article
      Lock icon Huaan to launch China's first open-ended fund in Sept
      248 10 SHANGHAI Bloomberg HUAAN Fund Management Co said it received approval from regulators to start China's first open-ended mutual fund in September, leading a move to provide more investment choices for the nation's US$B43 billion of savings. Shanghai-based Huaan, which already sells
      Bloomberg  -  248 words
  • FINANCE
    • Article
      Lock icon Futures end flat in lethargic trading
      309 8  -  ST todea/MSa ffpora Index C K Lau Refco (Singapore) Pte Ltd SINGAPORE shares surrendered most of their early gains as poor economic data weighed on market sentiment. Trading volume was thin as most investors continued to stay away from the market. The benchmark Straits
      309 words
    • Article
      Lock icon Futures fall 1% in sideways trading
      234 8  -  MSCI Taiwan Index Daniel Wong Refco Singapore TAIWAN stocks fell yesterday for the first time this week, led by Chunghwa Telecom, on second-quarter economic growth worries. The MSCI Taiwan Stock Index fell 2.96 points, or 1.36 per cent, to close at 216.67, with the
      234 words
    • Article
      Lock icon CURRENCY REPORT
      225 8 Reuters The yen fell yesterday, retreating more than one percent from this week's 2-1/2 month peaks against the dollar, as Japanese officials spoke of the possibility of intervention to cap its strength. Senior Japanese finance ministry official Zembei Mi zoguchi said movements in the currency markets had been
      Reuters  -  225 words
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      Lock icon Untitled
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    Lock icon COMMODITIES
    1573 9 MCOM FUTUkBS Aug 17 RUnCKMractaNsatSJOpM) ISS1CONTIACT S cfntsAij; dm Mw QM Mot* Low Sott (to—) Irtwost Sop 01 102.50 Oct W 104.50 Nov Of *>5.50 Ok 01 nuo ISS 3 CONTIACT (US caattAD MM 0mo MwO Uw S«tt (I—Wt) wm Sep 01 5125 5100 5725 650 Oct 01 5800
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  • Article
    Lock icon STOCKS asia
    7052 10 HONG KONG v« *mrr hk< coop) Acros s Asia Multlmadia 1.55 -0.09 0 AlphaGanaral 0.04 unch 1000 Amov Prop MO -0.05 2854 AnandaMflngOn 0.14 unch ***** Angang Now Staai M 0.86 -001 3110* Anftui Condi M 1.72 unch MIS Anftul Exprassway H US unch 1014 Arcontach Corp 111
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  • WORLD news
    • Article
      Lock icon 'Battle of yen' looms for forex markets
      719 11  -  Japanese'verbal interventions' posh yen below recent highs From. Anthony Rowley in Tokyo STATEMENTS yesterday by Japanese financial officials suggesting that Japan will act aggressively to prevent the yen from rising against the dollar and other leading currencies signalled possible confrontations ahead in foreign
      719 words
    • Article
      Lock icon US trade deficit widens 3.3% to US$29.4b
      449 11 WASHINGTON Exports down 2%, imports fall 0.7% as global slnmp hits AP, Bloomberg, Reuters THE US trade deficit widened in June as sales of Americanmade goods to other countries declined by a larger amount than imports, reflecting the impact of a global slowdown.
      AP,; Bloomberg,; Reuters  -  449 words
    • Article, Illustration
      Lock icon Japan ready for 2-3 yrs of painful reform: LDP official
      558 11  -  Strong support from the Japanese people for proposed reforms By Vikram Khanna [SINGAPORE] The Japanese people are ready and willing to undergo two to three years of economic pain, which will inevitably accompany the sweeping structural reforms proposed by the
      REUTERS  -  558 words
    • Article
      Lock icon Philips in talks to sell mature products factories
      193 11 Reuters [AMSTERDAM] Philips Electronics NV said yesterday it was In talks with several companies to sell factories that make mature products, such as standard television sets, in a move that could boost its profitability. But the news failed to boost Philips shares,
      Reuters  -  193 words
    • Article
      Lock icon Mr Bean, Teletubbies creators among UK's richest
      156 11 LONDON Reuters WHO wants to be a millionaire? Mr Bean and the Teletubbies do. A list of Britain's 100 richest media moguls published yesterday by Broadcast Magazine showed that canny celebrities have converted their creativity into multimillion pound empires. Rowan Atkinson is worth
      Reuters  -  156 words
    • Article
      Lock icon Ford to cut up to 5,000 salaried jobs in America by end-01
      352 11 DETROIT AP FORD Motor Co will eliminate between 4,000 and 5,000 white-collar jobs in North America by the end of the year, the car maker announced yesterday. The cuts, which will come about largely through retirements, will account
      AP  -  352 words
    • Article
      Lock icon HP's Q3 earnings dive 78%, hit by global economic slump
      585 12 But profits are nearly triple the expectations of Wall Street analysts NYT, Bloomberg [SAN FRANCISCO] Hewlett-Packard Co has reported fiscal third-quarter earnings that fell 78 per cent from the period last year, as the company, a computer industry bellwether, continues
      NYT,; Bloomberg  -  585 words
    • Article, Illustration
      Lock icon No tech spending rebound till next year: Dell
      544 12 AUSTIN, Texas NYT DELL Computer Corp has doused any hopes tepid though they may be of a turnaround in computer spending this year. Dell, which has led a fierce price war in the personalcomputer business for the past nine months, said demand
      NYT; FILE PHOTO  -  544 words
    • Article
      Lock icon Foreigners should not own all airlines in Australia: Howard
      278 12 SYDNEY Reuters, Bloomberg AUSTRALIAN Prime Minister John Howard yesterday said he would not like all airlines in Australia's region to be owned by foreign carriers. The comment in a radio interview followed a suggestion by national carrier Qantas Airways that it
      Reuters,; Bloomberg  -  278 words
    • Article
      Lock icon Lucent reaches deal with banks to modify loan terms
      532 12 NEW YORK Changes allow it to writedown restructuring costs NYT LUCENT Technologies reached an agreement with its lenders on Thursday to modify the terms of its US$4 billion in bank loans. The modification was necessary after the announcement by the struggling
      NYT  -  532 words
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  • Article
    Lock icon SGX clob
    1673 12 BONDS A WARRANTS *m/ Uffrr U Mt U* M 8* MM. km MM Cm tar Mi MM C rww Ui >M MM Ml M«Mi M, WM MMI LM 393 26 t ASTIW*****1 28 uneh 41 28 28 28 28.5 28 26.4 1 M T i 44 u 47.5
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  • e News
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      Lock icon Ericsson reorganises to focus on key customers
      349 13 STOCKHOLM Five global customer units; market areas cut from 5 to 3; new GOO post Reuters SWEDISH telecom equipment maker Ericsson said yesterday that it was reorganising to focus on its top Ave global customers and benefit from synergies in product organisation. Ericsson,
      Reuters  -  349 words
  • Article
    Lock icon STOCKS sgx
    6894 13 SOXMAINBOARD «r 8» MM H* Lai «tt Mr UMQnH Ot* Mr VM MM Cm An U» Cawpaay Ml (W* t— M» CV W1 >3 Uto MULTHHDUSTRY 143 35 t AcmaSOc 38 unch 111 38.5 375 38 38.5 OS 19.9 a? 10 65.9 38 41 8 < Alliance Tech
    6,894 words
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  • MOTORING page
    • Article, Illustration
      Lock icon cheap hrill
      1105 14  -  If you thought 'affordable fun Merc' was an oxymoron, let CHRISTOPHER TAN introduce you to the Sports Coupe CHRISTOPHER TAN IDONT recall the 1980s with much fondness. Lennon got shot, disco died and the flower generation grew stuffy. It was also a time of senseless junk bonds, obnoxious
      1,105 words
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      Lock icon Free Wheelie
      511 14  -  Honda's XR2OO might just be the bike for a born-again rider Reports by Christopher Tan THE vestiges of mid-life, as far as modern male urbanites go, often include hand-rolled Havanas, 20-year-old girlfriends and that obligatory red sports car. If, like me, you have no affinity for cigars, nor
      CHRIS LOH  -  511 words
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      Lock icon Skoda's new car Superb-ly like Passat
      248 14 THIS is the Skoda Superb, a car that marks the Volkswagen-owned Czech manufacturer's return to the big-car segment alter more than half a century. The car a spitting image of the VW Passat on which it is based will be unveiled at the Frankfurt
      248 words
    • BUMPER to BUMPER
      • Article
        Lock icon Audi museum a showcase of classics
        154 14 AUDrs Museujn Mobile is a showcase of the company's rich history in an ultra-modern complex. Situated at Audi headquarters in Ingolstadt, the museum opened its doors in December 2000 and has had plenty of visitors since. Among recent names to have walked through its
        154 words
      • Article
        Lock icon COE open-bidding starts on Monday
        75 14 THE third round of open-bidding for COEs starts at 9am on Monday and closes at 4pm on Wednesday. There are 612 motorcycle COEs, 332 commercial vehicle COEs and 886 COEs for the flexible Category E. You can bid through DBS/POSB ATMs, Citibank's Internet facility or
        75 words
      • Article
        Lock icon Firestone knew of tyre problems report
        81 14 EVIDENCE presented to a federal court in Texas could prove that Firestone knew years ago of ways to reduce tread-separation incidents linked to hundreds of rollover accidents, the Financial Times reported. According to court documents, Firestone knew that tyres fitted with a protective nylon
        81 words
      • Article, Illustration
        Lock icon Enter the new Toyota Picnic
        70 14 BORNEO Motors has launched the new Toyota Picnic (above), a seven-seater that boasts the compactness and versatility of new-generation MPVs like Opel's Zafira and Honda's Stream. Equipped with a two-litre, four-cylinder 16-valve engine with twin cams and variable valve timing, the Picnic promises to be
        70 words
      • Article
        Lock icon BMW tops Indon satisfaction survey
        119 14 BMW is tops in terms of customer satiafectkra in Indonesia. According to the first JD Power Asia Pacific 2001 Indonesia Customer Satisfaction Index (CSI) study, BMW trounced the opposition with a score 0f790 out of a possible I,ooopoints. Mercedes-Benz and Honda ranked second and third
        119 words
      • Article
        Lock icon Ford develops 'air pressure' paint
        168 14 FORD Motor researchers have developed a paint that can help measure air pressure distribution on a vehicle's surface. Typically, when testing aerodynamics 011 a new vehicle, a large number of pressure ports or "taps" are attached to the vehicle. It is then tested in a
        168 words
      • Article
        Lock icon Audi to launch 1st new cabario in 9 years
        75 14 AUDI wiS launch anew A 4 Cabriolet at the Frankfurt Motor Show next month. It will be its first new cabrio in nine years. The four-seater soft-top will probably arrive in Singapore in late-2002. Engine choices include a new three-litre 220-horsepower
        75 words
      • Article, Illustration
        Lock icon Rover 75'Best Used Medium Car'
        77 14 THE Rover 75 (above) has been chosen by UK's Used Car Buyer magazine as the "Best Used Medium Car 2002". Fifth-placed in the 2001J D Power customer satisfaction survey, the Rover 75 beat choices by Vauxhall (Opel) and Ford. "Even compared with the middle-ranking German
        77 words
      • Article
        Lock icon Porsche sets up new engineering unit
        130 14  -  -Compiled by Christopher Tan PORSCHE has set up a new subsidiary, Porsche Engineering Group (PEG), to centrally manage and market the group's customers. Hie new company covers the operations of the former Porsche Engineering Services in Weissach, Bietigheim-Bissingen, and in Michigan, in the US.
        130 words
  • Page 14 Advertisements
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      Lock icon Page 14 Advertisements Column 1
      83 14 If you have something 7 100 worth of motor-related to get off vouchers. Prizes are your chest, write to us. \A/Hcacv| sponsored by We welcome feedback STAMFORD TYRES, and suggestions from 111 L Singapore s only readers. listed tyre and auto The AUTOMOBILE services group. ASSOCIATION OF You can fax
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  • BIZ woman
    • Article, Illustration
      Lock icon The critical side of love
      899 15  -  S'pore-born Lau Siew Mei's acclaimed book Playing Madame Mao pulls no punches in its critique of government Yet the book is also the result of her deep feelings for her country of birth, tax hwee hwee finds out more TAN HWEE HWEE T was like
      899 words
    • Article, Illustration
      Lock icon Lyrical weaving of provocative tapestry
      477 15  -  Reviewed by Tan Hwee Hwee IF Maxine Hong Kingston had written the theatre adaptation of One Hundred Years of Solitude, she might have come up with something like Playing Madame Mao, an amazingly accomplished novel which wrestles bravely with dangerous issues. It might be hyperbolic
      477 words
  • THE arts
    • Article, Illustration
      Lock icon Potent script makes Tomyam a hit
      490 15  -  By Aaron Lye THEATRE-GOERS went to see Autumn Tomyam expecting something hot and spicy, and ended up getting a little more a touching story about love and truth set against a backdrop of social commentary on racial and ethical issues. An Action Theatre production
      490 words
    • Article, Illustration
      Lock icon Meeting of the twain
      176 15  -  By Cheah Ui-Hoon EAST meets .West will be the theme of Braddell Heights Symphony Orchestra's third concert for the year. The community-based orchestra will perform Mozart's The Magic Flute Overture, Lalo's Cello Concerto, and Beethoven's Symphony No 3 "Eroica The Twain Shall Meet concert tomorrow night
      176 words
    • Article
      Lock icon THE PROGRAMME
      619 15  -  CotnpAod by Aaron Lye MUSIC TtoTMiShalllMt A concert by the Braddell Heights Symphony Orchestra featuring Mozart The Magic Flute Overture, halo Cello Concerto and Beethoven Symphony No. 3 'Eroica'. Tomorrow, 7.30pm, Victoria Concert HalL Tickets priced at $12, $17 and $22 available from Sistic. Performed by the NUS
      619 words
  • Page 15 Miscellaneous
    • Miscellaneous
      Lock icon Page 15 Miscellaneous Column 1
      277 15 CKEFTIO CROSSWORD ACROSS 4 Trtte for a chapter in a kdbai 7 Such a dent needs to be knock- manual? (7) ed out and checked (9) 5 Fnendty note in a message (8) 8 Clever way to market (5) 6 Urge boss to obtain security de--10 Formative time tor young
      277 words
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  • EXECUTIVE Arts
    • Article, Illustration
      Lock icon Warming up to Womad
      862 16  -  Besides an all-new lineup and more compact acts of 10, the world music festival is also kicking off with a DJM launch party, parvathi nayar finds out what's in store PARVATHI NAYAR FROM a music category that had people going 'duh?' to a sound seen as
      862 words
    • Article
      Lock icon The players
      300 16 THERE are contrasts of style and pace in the lineup notes Audrey Perera, festival co-director, which will be reflected in the programming Trflok Gnrtn, for one, is excited about his first performance in Singapore. The audience will be treated to Gurtu's latest music from The Beat of Love
      300 words
    • Article, Illustration
      Lock icon New wave of arts festivals
      654 16  -  An arts festival that allows artists across Asia to spend a few weeks together on collaborative work? If s the vision of TheatreWorks artistic director Ong Keng Sen who will be at the helm of a Berlin arts festival for 5 years. He talks to
      FILE PHOTO  -  654 words