The Business Times, 25 August 2001

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Total Pages: 16
1 16 The Business Times
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  • Title Section
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    16 1 THE BUSINESS TIMES MfTA (P) 107/03/2001 I Inttmet: http: L"siness-<imes.asial .com.sg' SINGAPORE SATURDAY. AUGUST 25. 2001
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  • Article
    Lock icon MARKET SUMMARY
    75 1 l*l* (-10.78) n M mm (-3.69) r"J ST INDEX FUTURE mm UHJe (-5.00) numnmms Mm* (-Mo STOCK MARKET INDICES FHday Ohd| USE POMP «8U7 *nt NIKKEI» IUMJ1 HANG SE>G il.llOJ© -BU SET INDEX mil *?J JAKASTA OOMP —44L22 tli MANILA COUP _U81I7 +7M TAIFHWPI UltS 1414 SEOUL CO*P
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  • Article
    Lock icon FINANCE
    76 1 ram bates U8t St C» {81 per OSS) 1.76$ Hvssmm*— U87 EtBOflSS/SI/E) HJt J 1JI7 wi- tia im TBI 119 J MM W IMO 1171 M 7M0 4.447 BAIT 44.40 MM HJHAH 8.7JI 4JM *89 to 100 umUI •SttoMunlta PKHBIUB SINGAPORE* Ml KUALA LUMPUR 7J7 JAKARTA MM BANGKOK $M
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  • Article
    Lock icon SGX unveils draft of new listing manual
    657 1  -  Changes infinite easing of public float requirement for big listings By Siow Li Sen [SINGAPORE] The Singapore Exchange (SGX) yesterday released the first draft of its revised listing manual proposing among its major changes that main board applicants be allowed to have a
    657 words
  • Article, Illustration
    Lock icon Pillay made an executive of SGX
    231 1 [SINGAPORE] The Singapore Exchange announced that its chairman, JY Pillay, had been "designated as an executive and non-independent director" on Aug 16. In a brief statement, the exchange said the move by its board was "in recognition of the amount of time the chairman
    231 words
  • Article, Illustration
    Lock icon Arroyo: form sub-groupings to reinvigorate Asean
    614 1  -  She says integrated market will attract investments By Vikram Khanna [SINGAPORE] A reinvigorated Asean could help promote South-east Asia's prosperity and potentially be a force to compete with China, Philippine President Gloria Macapagal-Arroyo said yesterday. Speaking at a public lecture organised by the Institute
    ARTHUR LEE  -  614 words
  • Article
    Lock icon Ibra offers to sell 3 Salim assets in Batam, Bintan, Karimun
    618 1  -  p -IB exclusive 1 Projects will be sold as a package to investor who is committed to develop them Fromi Shoeb Kagda in Jakarta UNDER new leadership in the Megawati government, the Indonesian Bank Restructuring Agency (Ibra) has moved
    618 words
  • Article
    Lock icon Private insurers to operate ElderShield scheme
    378 1  -  By Andrea Tan [SINGAPORE] The government will let private insurers run the proposed new "Elder Shield" insurance scheme to cover severe disabilities, because private firms are "more responsive and more efficient", Health Minister Lim Hng Kiang said yesterday. The Elder Shield scheme was mooted
    378 words
  • Article
    Lock icon Dow surges 200 points by noon
    71 1 Reuters [NEW YORK] US stocks extended their gains in midmorning trading yesterday, buoyed by an upbeat outlook from Cisco Systems Inc and a strong gain in US new home sales. The Dow Jones Industrial Average climbed 202.26 points to 10,481.41, while the Standard Poor's
    Reuters  -  71 words
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      Lock icon Page 1 Advertisements Column 1
      70 1 i movonng Audi Aifroad: business and pleasure rolledinlo one. Pg 14 Top StorlM KL bourse rases on positive economic data. Mmxi Pmgm Orders for US manufactured goods drop In July; sales of new homes surge. MmxtPmgm S*< '2* i f t**- ,x:• Fall in office values, rents may hit UIC.
      70 words
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      Lock icon Page 1 Advertisements Column 2
      41 1 \hr West End 7. f. 1 in the autumn T3 v K V:i .J Brendan Fraserin jL ludi Dench in The Royal Family' I Cat On fl Hot Tin Roof Jonathan Pryce in My Fair Lady" t* Executive Ads. B.i< K
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      Lock icon Page 1 Advertisements Column 3
      15 1 Why F&N is looking over its shoulders US orders, Next Page Cisco revamp, Pg 10
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  • NEXT page
    • ON THE grapevine
      • Article
        Lock icon Asset size is not everything
        131 2 IF asset size is the preferred measure, it should come as no surprise that Chinese banks topped a recent Finance Asia ranking of the top 250 banks in Asia excluding Japan and Australia. In fact, the top five were all Chinese—led by the Industrial and
        131 words
      • Article
        Lock icon Leave it to the market
        71 2 THAI Prime Minister Thaksin Shinawatra's business background came into focus as he deftly handled questions after a public lecture here on Wednesday. Instead erf referring to "reform" that is, the way a politician would describe unpalatable change—he talked about "business consolidation". And when asked about
        71 words
      • Article
        Lock icon Showroom showdown
        118 2 BUYING a car these days must be a stressful affair. A couple of weekends ago, a potential customer and an employee of Hyundai agent Komoco were involved in a scuffle that left the former, a woman, injured. Police who were called to investigate confirmed the case and have
        118 words
      • Article
        Lock icon No more hairy encounters, thank you
        80 2 AWARE of the hornets' nest he has stirred with his hairdo remark in Parliament, Health Minister Lim Hng Kiang was careful with his words yesterday. At a news briefing, he described the 5-6 per cent of Singaporeans who opt out of MediShield as a
        80 words
    • Article
      Lock icon US orders for big-ticket manufactured goods decline
      702 2 But Jnly sales of new homes jump by 19% in year's biggest gain AP, Bloomberg, Reuters [WASHINGTON] Orders to American factories for big-ticket manufactured goods fell in July for the third time in the last four months. But in brighter news, sales of
      AP,; Bloomberg,; Reuters  -  702 words
    • Article, Illustration
      Lock icon KL bourse rallies on positive economic data
      554 2  -  Dr IT 8 optimism not shared by private sector economists From Eddie Toh in Kuala Lumpur THE Malaysian stock market, which is currently the best-perform-ing world bourse, continued its winning streak yesterday following Prime Minister Mahathir Mohamad's prediction that the economy would still
      FILE PHOTOS  -  554 words
    • Article, Illustration
      Lock icon US trade lobby out to fight strong greenback
      419 2 Hefwaainai CMtttiMt* alert WuhiagUn Uthafrpßgfct AFP [WASHINGTON] US manufoctur ers and exporters have launched a campaign to fight the high value of the greenback, which, they said, was punishing them on overseas markets. The National Association of Manufacturers (NAM) said it was
      AFP; REUTERS/AP  -  419 words
  • Page 2 Advertisements
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  • SINGAPORE companies
    • Article, Illustration
      Lock icon Fall in office values, rents may hit UIC
      522 3  -  UIC HI net falls 5%, to $37m, Sing Land's profit up 9% at $46m By] Kalpana Rashiwala OFFICE capital values and rents were an area of concern among some analysts yesterday when they examined the first-half results of United Industrial Corporation (UIC)
      FILE PHOTO  -  522 words
    • Article
      Lock icon What prompted F&N to buy back its shares?
      646 3  -  wxm lock siew lee han shih EVER seen a company running scared? If not, look at Fraser Neave.' In the last week, the slowmoving former food and beverage blue chip has gone into hyper mode. On the one hand, it began a
      646 words
    • Article, Illustration
      Lock icon 3 KCH execs to join OCBC's integration team
      257 3  -  They are Oils Victor Ow, Eric Th&m and Chut Phuay Hee By Angela Tan THREE senior executives from Keppel Capital Holdings (KCH) will be part of the integration team to merge OCBC Bank with KCH, sources said yesterday. They are Victor Ow,
      FILE PHOTO  -  257 words
    • Article
      Lock icon High Court tells SingTel to file IDA suit defence by Sept 21
      442 3  -  3 weeks for EDA to give response; trial expected next year By Conrad Raj SINGAPORE Telecommunications has been given up to Sept 21 by the High Court to file its defence against a suit brought by the Info-Commu-nications
      442 words
    • Article
      Lock icon F&N reaps $117m from sale of 24m shares in Coke bottler
      311 3  -  By, Andrea Tan FRASER Neave Ltd (F&N) yesterday said it has disposed of 24 million shares in Australian-listed Coca-Cola Amatil Ltd (CCA) at A 55.25 each. The soft-drinks and property group said in a statement that the net proceeds
      311 words
    • Article
      Lock icon SingTel extends Optus offer to Sept 17
      278 3 Offer still depends on Anssie Treasurer's and regnl&tory nods SINGAPORE Telecommunications yesterday extended its takeover offer for Cable Wireless Optus by two weeks. The closing date of the offer is extended from 7pm (Sydney time) on Sept 3 to 7pm (Sydney time) on
      278 words
    • Article
      Lock icon Venture's assurance fails on deaf ears
      408 5  -  Shares down as market worries ever business cutbacks by its partner HP Bu\ Serena Ng TRY as Venture Manufacturing did to reassure investors that it aimed to strengthen its relationship with computer hardware giant HewlettPackard, many in the market remain sceptical over the partnership
      408 words
    • Article
      Lock icon Inter-Roller cuts interim loss to $53,000 from $1.5m
      273 5  -  By Grace Ng THINGS appear to be perking up for Inter-RoUer Engineering, which announced yesterday that it had pared its net loss to $53,000 for the first half of this year, down from the $1.5 million loss of a year ago. Group
      273 words
    • Article
      Lock icon F&N share buyback: Analysts'logic flawed
      172 5  -  MAILTSI Narayana Narayana Singapore I REFER to your article "Buyback sparks talk of F&N move to ward off suitors" by Andrea Tan (BT, Aug 21). Given the interlocking structure of the group to which F&N belongs, warding off predators like Brierley Investments should not pose
      172 words
    • Article
      Lock icon Law restricts UOB's debt issue
      112 5  -  Peter Heng, First Vice-President syjairs, unuea dotia WE refer to the letter, "Curt response from UOB Asia to enquiry", by Toh Keng Siong (Mail bag, Aug 22). Due to legal constraints under the Singapore Companies Act, we could only invite institutional investors such as banks,
      112 words
    • Article, Illustration
      Lock icon Courts gunning for expansion still
      205 5 FURNITURE retailer Courts yesterday said it would adopt an aggressive stance in new business development, marketing and cost management to beat the current economic slowdown. Managing director Terry O'Connor told analysts at a briefing that the retail giant's management team was committed to expand despite
      FILE PHOTO  -  205 words
    • COMPANY Briefs
      • Article
        Lock icon Progen Holdings net profit rises 48%
        93 5 PROGEN Holdings has reported a 48 per cent rise in net profit to $326,000 for first-half 3001. Turnover grew 37.3 per cent from $3.4 million to $4.6 million as the air-conditioning products and Installation, services and maintenance, and rental-income segments performed better. With an
        93 words
      • Article
        Lock icon Superior Multi-Packaging net up 151%
        40 5 SUPERIOR Multi-Packaging says its first-half2ool net profit rose 150.7 per cent to $1,251 million from $490,000 a year earlier. Turnover increased &2 per cent to |3M million due to higher sales from subsidiaries in China.
        40 words
      • Article
        Lock icon United Pulp & Paper earnings down 22%
        100 5 United Pulp Paper earnings down 22% UNITED Pulp A Paper said interim 2001 net profit foil 22 per cent to $1.3 million amid difficult market conditions and initial operational issues arising from the relocation of its paper mill and corrugating plant Turnover fell 19 per cent to $25.98 million. The
        100 words
      • Article
        Lock icon United food reports 22.5% profit rise
        66 5 UNITED Food Holdings has reported a per cent increase in first-half2ool net profit to RM8164 million en a per cent rise in turnover to RM8961 million. Demand increased through succeesftil advertising and promotional activities, supported by continuous economic growth in China, In particular, new
        66 words
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      Lock icon Page 3 Advertisements Column 1
      281 3 Twmsia Pacific 2001 kU- The Premier Maritime Event ■M If? out to vital markets with Shipping Times, the Official Newspaper Asia Pacific Maritime, one of the shipping industry's most prestigious events, is all set to sail into Singapore M| from sto 7 September 2001. And with it major players t
      281 words
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  • SINGAPORE markets
    • Article, Illustration
      Lock icon Parkway, China stocks the only sparks in weak session
      621 4  -  -li comment STOCKS r. sivanithy UNTIL the US economy and Wall Street recover, the local stock market isn't going anywhere in a hurry. And yesterday's session proved this an earnings-related pullback on Wall Street overnight cut short Thursday's weak recovery in
      621 words
    • Article, Illustration
      Lock icon Metroplex wrt: high volume
      179 4  -  WARRANT WATCH By: R Sivanithy THE Malaysian stock market is enjoying one of its best spells for quite a few years yet. Many penny warrants have been lifted with the rest of the market And with they're rising in high volumes too. Take, for example, former
      179 words
    • Article, Illustration
      Lock icon NatSteel: oversold, but no rally ahead
      217 4  -  HOT STOCK Byy Ven Sreenivasan AFTER a massive first-half loss announced this week, Nat Steel's stock is likely to remain range-bound in the medium term. It closed two cents lower at 95.5 cents yesterday as 3.66 million units changed hands a huge jump from
      217 words
    • Article, Illustration
      Lock icon US$ rebound elusive;more downside risks seen ahead
      509 4  -  comment CURRENCIES A bearish flag* formation on the charts for greenback may lift yen even higher larry wee ANOTHER lethargic Wall Street session, on Thursday, found the US dollar very much adrift again in slower pre-week end trading yesterday leaving the risk of
      Source: Reuters  -  509 words
    • Article
      Lock icon Untitled
      316 4 P*kwayH25c 30,634,000 Surface MTHK20c 27,066,000 Cyber VW 5c.... *****,000 UrtiFood HK2SC 14,102,000 SingTei 15c 11,153,000 KlVsnturas 10c 8,176,000 TlanjlnZhcng 7,731,000 Startech 10c 5,997,000 Chart Semiconductor 26c... 5,728,000 PNEIndlOc 5,545,000 DBSQrp 47,774,442 ParkwayH25c *****,705 Chart Semiconductor 26c 27,011,969 ventutaM|K25c 26,000,950 SingTel 15c *****,710 U08 18,209,200 Surface MTHK20C 14.608,455 StA 14,269,146 0C8C
      316 words
  • Article
    Lock icon UNIT TRUSTS & FUNDS
    2837 4 UNIT TRUSTS FUNDS Aberdeen taaet M«t Aaia LM Aberdeen Select Portfolio! China Opportunities Fd!** 0.807 0.932 Global MNCFd 0.657 0.691 Global Technology Fd!** 0.505 0.531 UK Blue Chip Ml" 0.707 0.744 American Opport Fd 0.756 0.794 Corrt Euro Eqty Fd!** 0.969 1.018 Japan Eqty Fd!** 1.028 1.080 Asian Fixed Income
    2,837 words
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  • Article
    Lock icon BT SHARE information service
    3684 5 Nataam CPS UMlkM 3KM I 1541 OM OH OJT Dala TY LY TY LY UW 30-A*r P US7 1553 U LI CltHf 898 1M C*M (Ml Mta> Lung Kaa (HKS) 22-Jul P *****5 *****7 80.7 417 MCLLana 3KM I 10S M0( U U AC C Dynamics
    3,684 words
  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      74 5 teftBrs E-mail us at MkM Ml ri _i Dvenerespn.com sg or tax mat *****71, or write to: The Business Times, Times House, 390Kim Seng Road, Singapore23o4os. We need your M name, address and telephone number, ao we can verify It came from you. Please use temperate language, end beer In
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  • SINGAPORE news
    • Article
      Lock icon MAS accepts framework on policy liabilities
      370 6  -  Consnltation paper invites insurance industry feedback by Sept 24 By\ Serena Ng THE Monetary Authority of Singapore said yesterday it has accepted recommendations by a working group on a framework for investigating policy liabilities for the general insurance business and has come up with
      370 words
    • Article
      Lock icon Megawati's visiting team will include Cabinet heavyweights
      431 6  -  Byl Yang Razali Kassim FOR a conservative leader, Indonesian President Megawati Sukarnoputri has opted for a somewhat unconventional approach to her maiden foreign-policy outing. The Philippines and newer Asean members Vietnam, Cambodia and Laos have been the first stops on her current Asean
      431 words
    • Article, Illustration
      Lock icon Sonopress opens US$12m CD-making plant in Woodlands
      284 6 GERMANY-BASED Bertelsmann's unit Sonopress yesterday opened a US$l2 million compact disc manufacturing plant in Woodlands and plans to spend another US$2O million on it. The facility will produce 40 million discs a year, Sonopress' Asia-Pacific CEO and MD Wesley Lau said at the
      LAU FOOK KONG/ST  -  284 words
    • Article
      Lock icon Proper communication key to handling lay-offs
      324 6  -  i Survivors more likely to disapprove of process US poll By] Bryan Lee SURVIVORB of company downsizing are more likely to disapprove of management handling of lay-offs than those who lose their jobs, the Andersen consultancy has found in a US survey. Among 759
      324 words
    • Article, Illustration
      Lock icon Non-oil exports seen bottoming out
      282 6  -  ■373 on the economy exports By Siow Li Sen AMID the concern about Singapore's economic prospects, one economist is sticking his neck out by raising the possibility that there are signs of a bottoming out at least in the non-oil domestic exports (NODX) area. DBS'
      Source:  -  282 words
    • Article, Illustration
      Lock icon Don't forget managers, technicians
      227 6  -  Jim James Director Eastwest Public Relations Pte Ltd I REFER to your article '"New S'pore' strategy seen as well-timed" by Anna Teo (BT, Aug 21). I read with interest the responses to the National Day Rally speech by Prime Minister Goh Chok Tong. Amid the support
      FILE PHOTO  -  227 words
    • Article
      Lock icon Technology-based industries are subject to 'sunset'effects—not textiles
      333 6  - Technology-based industries are subject to 'sunset'effects —not textiles MAIL bag Curtis J Montgomery Singapore I REFER to your article "Sunset or new dawn for disk drive industry?" by Chuang Peck Ming (BT, Aug 17). I have also read the book From Silicon Valley to Singapore but my conclusions were much
      333 words
    • Article
      Lock icon COE bidding system functioned normally
      186 6  -  Eileen Tan (Ms) Assistant Manager Media Relations Land Transport Authority We refer to your article "Watch out if you do last-min-ute open bidding for COEs" by Christopher Tan (BT, Aug 23). According to the article, the affected motor trader obtained only eight Category E COEs
      186 words
    • Article
      Lock icon Can Asia produce a Bill Gates?
      188 6  -  Terence Mak CEO, UGotACaU Pte Ltd I REFER to your article "Can NUS produce a Bill Gates?" by Lee Han Shih (BT, Aug 20). Bill Gates was a product of a society and not an educational institute. His success was a combination of several
      188 words
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      Lock icon Page 6 Advertisements Column 1
      831 6 Notices IN THE MATTER OF THE COMPANIES ACT, CAP. M AND IN THE MATTER OF PANPAC COMMERCIAL A. ENTERTAINMENT ENTERPRISE (S) PTE LTD (la MeMbers' Votuattry UquMadoa) NOTICE OF PINAI MEETINr. NOTICE IS HEREBY GIVEN that pursuant to Section 306 of the Companies Act. Cap. 30. a Final Meeting of
      831 words
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  • REGIONAL news
    • Article
      Lock icon Malaysia sets out to lure highly-educated citizens home
      706 7 KUALA LUMPUR New plan to plug vacancies in areas like infocomm, medicine AFP THE Malaysian government is stepping up a tax-incentive drive to reverse a brain drain by luring highly-educated expatriate citizens to return home and bolster the local work force. So
      AFP  -  706 words
    • Article, Illustration
      Lock icon Telcos see SMS explosion in M'sia
      390 7 KUALA LUMPUR Reuters MOBILE phone short messaging services (SMS) are set to take off in Malaysia now that the country's five telecoms firms have agreed to use a common platform that allows messaging between the different networks, telco officials said yesterday. Analysts forecast Malaysians
      Reuters; FILE PHOTO  -  390 words
    • LATE Briefs
      • Article
        Lock icon Jakarta expects 2002 oil output to fall
        84 7 Reuters l J akaktaj Indonesia s crude oil output is expected to foil by 100,000 barrels per day (bpd) oil average next year due to security disrujrtiotis in its fields, a senior mines and energy ministry official said yesterday. Indonesia's vital oil and
        Reuters  -  84 words
      • Article
        Lock icon Saudi Air jet in KL mishap
        81 7 AFP [KUALA LUMPUR] A Saudi Arabian Airlines jumbo jet slipped into a monsoon drain at Kuala Lumpur airport as it taxied to pick up more than 300 passengers who had already been delayed for four hours, a report said yesterday. The Boeing 747 had
        AFP  -  81 words
      • Article
        Lock icon Tenaga generates power in Pakistan
        80 7 Bloomberg la. u ALA Tenaga Nasionai ana, Malaysia's largest electricity producer, said it began generating power at its power piant in Pakistan, after more than a year's delay that caused profits to decline. The plant, Tenaga's first Investment outside Malaysia, had delayed selling power to
        Bloomberg  -  80 words
      • Article
        Lock icon Thai matching funds set at US$50-100m
        85 7 Reuters [BANGKOK] Thai Finance Minister Somkid Jatusripitak said yesterday that government-initiated "matching funds" proposed as a way ofboosting the Thai stock market would have ideal sizes of US$6O million to USgIOO million. Mr Somkid tokl reporters Singapore had expressed interest in participating in the
        Reuters  -  85 words
      • Article
        Lock icon KFC director fined for giving false info
        73 7 [KUALA LUMPUR] KFC Holdings (Malaysia) Bhd director Ishak Ismail was fined RM400.000 or she months' Jail by the Sessions Court on Thursday ft* submitting false information to the Securities Commission five years ago, New Straits Times reported Ishak, 50, pleaded guilty to submitting
        73 words
      • Article
        Lock icon Bridge to close most Asia-Pac ops
        58 7 Dow Jones [SINGAPORE] Bridge Information Systems Inc to close most of the Asia-Pacific news gathering operations ofßridgeNews International Inc by Sept 27, the company told employees on Thursday. Employees were told that the Bridge News English-language and Chinese-language operations in the Asia-Pacific would be
        Dow Jones  -  58 words
      • Article
        Lock icon Danaharta to sell Philippine steel stake
        75 7 AFX-Asia [MANILA] Malaysia's Pengurusan Danaharta Nasional Bhd has agreed to sell its 80 per cent stake in National Steel Corporation, a source from the Philippine government said. The source said Danaharta was willing to sell out even at aloes. He gave no further details.
        AFX-Asia  -  75 words
    • Article
      Lock icon IOI Corp turns in flat earnings of RM291m
      340 7 KUALA LUMPUR Reuters MALAYSIAN plantations and property group 101 Corp said yesterday net profit in fiscal 2001 was little changed from a year earlier as a foil in crude palm oil prices was ciirbed by a rise in profit margins of its
      Reuters  -  340 words
    • Article
      Lock icon News service bypasses KL media controls
      211 7 KUALA LUMPUR Reuters A NEW independent news service is challenging Malaysia's tight grip on the media by publishing on the Internet and broadcasting via radio stations in Indonesia. Radiqßadio.com bypasses broadcasting rules because it is transmitted to Malaysia from stations in neighbouring Indonesia, which
      Reuters  -  211 words
    • Article
      Lock icon UEM in the red if it Mows IAS
      456 7  -  Shareholders' equity would then be RML4b in deficit, says Ase&mb&nkers From Eddie Toh in Kuala Lumpur TAKEOVER target United Engineers Malaysia's shareholder funds would be in the red should the company adopt international accounting norms, according to predator Syarikat Danasaham's financial adviser.
      456 words
    • Article
      Lock icon Asian execs more pessimistic than peers elsewhere
      235 8 HONGKONG Reuters MORE top executives in Asia are worried about the global economic outlook than their counterparts in Europe and the US, according to a recent survey. The survey of 100 top executives worldwide found 77 per cent of Asian respondents were "concerned"
      Reuters  -  235 words
    • Article
      Lock icon Global slowdown spurs YTL to eye properties abroad
      491 8 KUALA LUMPUR It wants to bay hotels, resorts and restaurants in Europe, elsewhere Bloomberg YTL Corp, Malaysia's biggest builder and owner of the JW Marriott and Ritz Carlton hotels in Kuala Lumpur, plans to buy hotels and resorts abroad and upscale restaurants
      Bloomberg  -  491 words
    • Article
      Lock icon BAT building US$40m tobacco factory in Vietnam
      290 8  -  Joint venture with state firm will gftre it big edge over US, Japanese competitors From', Harish Mehta in Bangkok GIANT cigarette maker British American Tobacco (BAT) yesterday said it is building a US$4O million tobacco processing factory in Vietnam, in a joint venture
      290 words
    • ASIA Notes
      • Article
        Lock icon Taiwan IT park firms post first sales fall
        67 8 AFP [TAIPEI] Total revenues from high-tech computes at northern Taiwan's Hslnchu Science-based Industrial Parte fell for the first time in the first six months of the year to NT***** billion (5518.4 billion), official data showed yesterday. Sales from the3o6 companies in the
        AFP  -  67 words
      • Article
        Lock icon Slower profit rise at China state firms
        79 8 Bloomberg [BEIJING] Profit growth at China's state-run industrial companies slowed in July as the country's economic growth eased amid a global slowdown. State-owned companies increased their profit by 19.4 per oent to 134.4 billion renminbi (Ss29£ billion) in the first seven months of
        Bloomberg  -  79 words
      • Article
        Lock icon New shares dilute Chinese firms' EPS
        70 8 Bloomberg isMAmiHAij unina companies' earnings per snare have fallen as profits increased because companies have sold more stock, the Shanghai Stock Exchange said in a study. The 1,088 companies that reported first-half earnings to the Shanghai and Shenzhen exchangee by Aug 22 had combined
        Bloomberg  -  70 words
      • Article
        Lock icon Wipro to recruit foreign directors
        59 8 AFP [BANGALORE) Wlpro Ltd, India's third largest software exporter, said yesterday it was recruiting foreign directors to broaden its presence in international markets. "A global company needs a global (management) board," Wlpro chairman Aiim Prenyl told the Economic Ttmes newspaper. "We have already selected two
        AFP  -  59 words
    • Article, Illustration
      Lock icon Thai PM seeks to lift GDP growth to over 2%
      117 8 Reuters [BANGKOK] THAI Prime Minister Thaksin Shinawatra (Uft) said yesterday that his governmant will try to stimulate economic growth to above a per cent in 2001, despite a cut in the central bank's growth forecast to 1.8 per cent Asked
      Reuters  -  117 words
    • Article
      Lock icon JP Morgan poll finds Hong Kong staff disgruntled
      574 9 HONGKONG Jardine Fleming culture remains strong a year after bank's purchase Bloomberg TWO-THIRDS of JP Morgan Chase Co's employees in Hong Kong, where the Jardine Fleming culture remains strong a year after the firm was bought, say staffing decisions are unfair, an
      Bloomberg  -  574 words
    • Article
      Lock icon Taiwan opens 3-day economic meeting
      435 9 TAIPEI President vows to accept unanimous decisions by participants AP TAIWAN President Chen Shuibian kicked off a three-day economic meeting yesterday that Taiwanese businesses hope will jumpstart the slumping economy and ease restrictions on Investing in rival China. Since the Taiwanese economy began sliding towards
      AP  -  435 words
    • Article, Illustration
      Lock icon Enron chief raises possibility of US sanctions against India
      338 9 HOUSTON It wants to recover USslb investment in an Indian utility Bloomberg ENRON Corp chief executive Kenneth Lay said the Indian government could be subject to US sanctions unless the top energy trader and Its partners recover US$l billion they invested
      Bloomberg  -  338 words
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      Lock icon Page 7 Advertisements Column 1
      186 7 %v M m fff Man ita V\> v fl JH A HBPwV^HHHHnHviHurvy!^B| Tte9tndtfTta*» Offer ends I 8 Sept 2001 Jg rtodu l **Ji 'v'' v £.o*-*ntC" K,O*JT<tCJOWT Name [Mr/Mra/Ma/Dr*]: 1 iKfes*®lMl3^..®l.<sdHHHfiB& Addresa: P—— (rfm»l-> Country/Zooe Occupy -J= 22 latk NRIC/PPNo: DOB: SexM/F Bnao. CkM. Ka«. hfc.lnViw.tow. T«l (Hi: [OJ: Ca-bcta.
      186 words
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  • FINANCE
    • Article
      Lock icon Futures slightly down on profit-taking
      295 8  -  ST Indeat/MSd S*pore Index C K Lau Refco Singapore THE Singapore stock market fell yesterday to a four-month low following losses in US markets overnight on earnings concerns. The benchmark Straits Times Index closed at 1,624.61 points, a loss of 10.78 points, or 0.66 per
      295 words
    • Article
      Lock icon Futures dive 3.8% as cash market tumbles
      236 8  -  aaiWmuitata Daniel Wong Refco Singapore TAIWAN stocks tumbled yesterday, led by chip firms and computer stocks. The MSCI Taiwan Stock Index dropped 7.67 points, or 8.64 per cent, to close at 200.18, with the turnover at 707.67 million. Gainers trailed loeers three to
      236 words
    • Article
      Lock icon CURRENCY REPORT
      231 8 Reuters The US dollar rose around half a per cent against the euro and the yen yeeterday ae an upbeat statement from tech-bellwether Cisco raised expectations of s strong opening on US stock markets. Earlier, both the greenback and the euro had come under some pressure from the
      Reuters  -  231 words
    • Article, Illustration
      Lock icon Untitled
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    Lock icon COMMODITIES
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  • e News
    • Article, Illustration
      Lock icon Restructuring at Cisco to form 11 tech groups
      560 10 Move to streamline firm; CEO sees todness stabilising Reuters CISCO Systems Inc, the biggest maker of computer-net-working equipment, said on Thursday it was restructuring into 11 technology groups its biggest reorganisation since 1997 and added that it sees signs its business is
      Reuters; FILE PHOTO  -  560 words
    • Article
      Lock icon Hutchison denies FT report of share move
      260 10 HONGKONG Bloomberg HUTCHISON Whampoa has "strongly" denied a report it was seeking to sell its remaining shares in Vodafone Group Pic and Deutsche Telekom AG to raise cash for its own European mobile phone ventures. The Financial Times reported on its website that
      Bloomberg  -  260 words
    • Article
      Lock icon Three Japan Telecom mobile units to merge on Nov 1
      350 10 TOKYO New J-Phone to be 45J% owned by Japan Telecom; Vodafone to have a 39.7% stake Bloomberg JAPAN Telecom Co's regional mobile-phone units, partly owned by Vodafone Group Pic, will merge on Nov 1, creating a company better able to
      Bloomberg  -  350 words
    • Article, Illustration
      Lock icon AOL distrusted more than Microsoft: poll
      569 10 Reuters [NEW YORK] Consumers are more distrustful of AOL Time Warner Inc than rival Microsoft Corp, which has been the target of competitive concerns for years, according to a Gartner Inc survey of adult online users released on Thursday. AOL, which prides itself on
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  • Article
    Lock icon STOCKS asia
    7038 10 HONG KONG Vai A—24 HKt fOOOt AcroasAsia Muitfcnadto 148 -0.03 1000 AmayPropL* 8.70 a» 1661 Ananda Wing On 0.10 unch ***** Angang Naw Staol M 0X3 -0.02 8902 AflMCanchH 1.72 KX02 1530 Anhul Cipriuviy H 136 0X3 2902 Arcontach Carp 1.07 0.01 2362 Asia Sat Ta4acom 14.00 unch
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  • WORLD news
    • Article, Illustration
      Lock icon Microsoft completes Windows XP
      517 11 REDMOND. Washington Gold code handed to PC makers despite calls for changes by rivals Reuters MICROSOFT Corp said development of its Windows XP operating system is now complete and it was due to present the final version, or "gold code", to computer manufacturers yesterday. Microsoft said
      Reuters; FILE PHOTO  -  517 words
    • LATE Briefs
      • Article
        Lock icon Hyundai Securities may be closed:Seoul
        130 11 Bloomberg [SEOUL] Hyundai Investment Trust Securities Co wU be shut if American International Group Inc and other investors pull out of an agreement to buy the company and two affiliates, the Korean government said yesterday. The closure could hurt the Hyundai unifs 42 per cent
        Bloomberg  -  130 words
      • Article
        Lock icon Merrill,HSBC eye German clients
        76 11 Reuters [FRANKFURT] US brokerage Merrill Lynch and global investment bank HSBC yesterday said they would launch a German online broker in 2002 targeting wealthy clients in a head-on challenge to the nation's biggest banks. Nathan Moss, chief operating officer of the Merrfll-HSBC Joint venture, told Reuters
        Reuters  -  76 words
      • Article
        Lock icon GM, Ford to close plants temporarily
        143 11 [DETROIT] General Motors Corp and Ford Motor Co will shut five plants for a week starting Monday, idling as many as ***** workers, as part of previously announced plans to reduce production as auto sales slow. General Motors, the largest automaker, will Idle plants
        143 words
      • Article
        Lock icon Philips not selling stake in TSM
        63 11 Dow Jones [TAIPEI] Philips Electronics NV(PHG) has dented market talk that it intends to sell pert of its 21.5 per cent stake in Taiwan Semiconductor Manufacturing Co (TSM), Economic Daily News reported yesterday. The speculation came after Philips, the biggest shareholder in the world's
        Dow Jones  -  63 words
      • Article
        Lock icon Tribune,KR buy HeadHunter.net
        73 11 Bloomberg [CHICAGO] Tribune Co, the publisher of the Chicago Tribune and Los Angeies Tories, and Knight Ridderlnc have agreed to buy Head Hunter.net Inc for U***** million to expand their Careerßuilder Inc recruitment venture. The two companies will pay USI9.2S In cash for each share in Head
        Bloomberg  -  73 words
    • Article
      Lock icon LDP veteran urges BOJ to set an inflation target
      373 11 ■TOKYO Reuters THE Bank of Japan (BOJ) must embark on aggressive easing steps by setting an inflation target and directly underwrite government debt to rescue the ailing economy, a veteran lawmaker of the ruling party said yesterday. Ichlzo Ohara, former agriculture
      Reuters  -  373 words
    • Article
      Lock icon ING posts 16% rise in H1 net profit to 2.4b euros
      366 11 AMSTERDAM US insurance acquisitions help to boost earnings Reuters DUTCH financial services group ING on Thursday posted a 16 per cent rise in first-half operating net profit, at the top end of the forecast range and largely boosted by
      Reuters  -  366 words
    • Article
      Lock icon New global trade round: US pessimistic
      476 11 HELSINKI Riots shouldn't be blamed for Seattle failure: Barshefsky Reuters CHARLENE Barshefsky, the US chief trade negotiator under ex-President Bill Clinton, has said she doubts that an agreement will be reached on a new round of global trade talks at a key meeting in
      Reuters  -  476 words
    • Article
      Lock icon S Korea's growth may hit 5% in Q4, says minister
      244 11 SEOUL Bloomberg SOUTH Korea's economy may grow 5 per cent in the fourth quarter, compared with a 2.7 per cent increase in the second, as debt woes at trust companies are resolved and the sales of Daewoo Motor Co and
      Bloomberg  -  244 words
    • Article, Illustration
      Lock icon Analysts cut earnings forecasts for 5 US banks
      497 12 NEW YORK Move follows sharp drop in share market activity, stock offerings and X6As in Angnst Reuters ANALYSTS on Thursday cut their earnings estimates for five Wall Street heavyweights, citing continued weakness in key activities including merger advisory and stock and bond
      Reuters; REUTERS  -  497 words
    • Article
      Lock icon US economists hail Fed's rate cut crusade: study
      484 12 WASHINGTON Two-thirds in survey endorse Fed policy, from little over half in March Reuters THE Federal Reserve's approval rating has risen this year as the central bank's aggressive interest rate cutting crusade has earned accolades from economists, a study released yesterday showed.
      Reuters  -  484 words
    • Article
      Lock icon News slump hits home as US media firms cut jobs
      692 12 NEW YORK Reuters NATHAN Hale's luck on landing a sports writing gig has ranged from no response to apologetic employers who said they would "keep his stuff on file". Mr Hale recently sent out his second round of resumes after
      Reuters  -  692 words
    • Article
      Lock icon US court awards US$1.3m to Delta passenger
      375 13 ILLINGS, Montana She suffers iqjnry after emergency landing Reuters A MONTANA woman who suffered emotional trauma during an emergency landing aboard a Delta Air Lines jet has been awarded US$l.25 million in damages by a jury which concluded her ordeal resulted in physical
      Reuters  -  375 words
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  • Article
    Lock icon SGX clob
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  • Article
    Lock icon STOCKS sgx
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  • BT motoring
    • Article, Illustration
      Lock icon ALLROADS lead to Roam
      1310 14  -  Just as we have the Romans to thank for our highways, GHBISTOFHERTAIf says we have to be grateful to Mel Gibson for SUVs like Audi's first offroader CHRISTOPHER TAN THE sport-utility phenomenon, as explained to me once by Volvo designer Peter Horbury, has to do with
      1,310 words
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      Lock icon Just cruisin'
      390 14  -  Ton don't have to be a rebel with a cause to enjoy the smallest V-twin around By i Christopher Tan THE world's love affair with cruiser bikes was probably ignited by Easy Rider, a 1969 indie film starring Peter Fonda, Dennis Hopper and Jack Nicholson. Har-ley-Davidson owes much
      CHRIS LOH  -  390 words
    • BUMPER to BUMPER
      • Article
        Lock icon Niki Lauda to head Jaguar Racing
        66 14 FORMER F-l driver Niki Lauda will immediately take over as head of the Jaguar team from American Bobby Rahal. "Following a meeting in London on Thursday, it was mutually agreed that in die best interests of Jaguar Racing, the management of the team should
        66 words
      • Article
        Lock icon RR gets nod for new plant
        115 14 THE final go-ahead has been given by all relevant authorities to a proposed new plant and head office for Rolls-Royce cars at Goodwood in southern England. A new model will be made at the plant from 2003 onwards. Earth-moving work has started for the
        115 words
      • Article
        Lock icon 'Torture chamber' test for Audi cars
        167 14 AUDI'S 130 million-Deutschemark plant for the A 4 includes innovations such as an automatic refuelling system, a truck lift for logistics handling and a combined shaker and test rig for the car's electronic stability program (ESP). Once assembly is completed, every Audi A 4
        167 words
      • Article, Illustration
        Lock icon Saab to unveil new design in Frankfurt
        109 14 SAAB will reveal a bold, high-performance concept car at next month's Frankftirt Motor Show. *n»e9X will showcase the fiiture direction of the company's design philosophy. The "multi-dynamic'' concept challenges traditional design orthodoxy by incorporating, for the first time in one car, key features
        109 words
      • Article
        Lock icon Cell phones affect driving performance
        168 14 DRIVING performance drops significantly when a driver is on a cell phone, regardless of whether it's a headset or other hands-free device, according to aUS study released t last week. AP reported that the study, by University of Utah researchers and released by the US
        168 words
      • Article
        Lock icon Hindustan Motors to sell Pajeros
        254 14  -  -uompuea ay Christopher Tan FOR one of India's last surviving indigenous car makers, Hindustan Motors, producing a toprated vehicle hasn't been enough to ensure profitability. And now the road ahead looks even rougher, due to moves by the Indian government to allow the import and
        254 words
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      Lock icon Page 14 Advertisements Column 1
      87 14 If you have something $100 worth of motor-related to get off vouchers. Prizes are your jchest. write to us. A r~> Sponsored by We welcome feedback STAMFORD TYRES, and suggestions from Singapore s only readers. listed tyre and auto The AUTOMOBILE I -services group. ASSOCIATION OF You can fax us
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  • BIZ woman
    • Article, Illustration
      Lock icon Artistic crusader
      860 15  -  Naina Dalal's deep interest in conditions of humanity and women's problems comes across clearly and powerfully in her art She shares her astute observations with oboztrbt bu GEOFFREY EU Naina Dalal'sartcan be viewed at Artfolio, Raffles Hotel Arcade, #02-25, until tomorrow. M S an impressionable young girl in
      860 words
  • THE arts
    • Article
      Lock icon Coming of age for Asian Youth Orchestra
      583 15  -  By] Frank DeMeglio The critic is a classically trained concert pianist from the University cf Michigan WOULD the Asian Youth Orchestra (AYO) prove to be a competent student orchestra or a truly professional ensemble? The orchestra cleared all doubts with their opening declamatory
      583 words
    • Article, Illustration
      Lock icon Ready for a literary feast?
      663 15  -  By 1 Tan Hwee Hwee FANCY having tea with a celebrity author? Then check out the 2001 Singapore Writers Festival from Aug 30 to Sept 4. Bookworms can sip Earl Grey at the Fullerton with the international literati, while aspiring Shakespeares can learn how to
      663 words
    • Article
      Lock icon THE PROGRAMME
      343 15  -  Compiled by Aaron Lye MUSIC Stage Screea Mask in tfce Part Relive the nostalgia with an evening of tunes from both old and new productions including Hawaii-Five-O, Mission Impossible, The Final Countdown and Miss Saigon, performed by the NUS Wind Symphony Orchestra and four singers from the local
      343 words
  • Page 15 Miscellaneous
    • Miscellaneous
      Lock icon Page 15 Miscellaneous Column 1
      241 15 CRYPTIC CROSSWORD ACROSS 4 Novelet to wander up in ialees 1 A bcwer normaly has one. even fashion (7) I not hungry (6,7) 5 29 two*nin»emper(7) 10 Hollne?ch 6 Stake tor river craft (4) 11 Reetoration novel in authentic 7 We yearn tor change in 2002 (3, setting (7) 4)
      241 words
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  • EXECUTIVE Arts
    • Article, Illustration
      Lock icon London spotlight
      1809 16  -  Fancythe luwerly tunes of My Fair Lady? Or how about the taut drama of medical ethics and ethnicity in Blue/Orange?. From the ever-popular musicals to political satires, there's something to 4 whet every theatregoer's appetite at London's West End. FELICIA YAP runs through the list of good stuff
      ROYAL NATIONAL THEATRE; FILE PHOTO  -  1,809 words
    • Article, Illustration
      Lock icon Have dance, will travel
      832 16  -  SDT will be performing in two dance festivals in Korea and France, thanks to the SDT-BT Arts Fund and other sponsors, cheahui-hoon finds out more CHEAH UI-HOON THE Singapore Dance Theatre (SDT) may not be a stranger to performing in the global stage, but next week,
      JARVIS LIM  -  832 words