The Business Times, 2 November 2002

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Total Pages: 16
1 16 The Business Times
  • 16 1 THE BUSINESS TIMES weekend NOVEMBER 2-3,2002 85C Ml FA (P> 010 03 ?00? Internet asial com.so
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  • 850 1  -  He ups stake to 14.7%, makes offer of $2.03 a share for DBS' 14.67% stake By Serena Ng [SINGAPORE] Oei Hong Leong stunned the market yesterday by raising his stake in Nat Steel to 14.7 per cent. And to top off
    FILE PHOTO  -  850 words
  • 649 1  -  By Serena Ng [SINGAPORE] What do Hyflux, Innovalues Precision, Norelco Centreline, and Raffles La Salle have in common? Answer: They are all Ses-daq-listed companies that have an established or growing business in China, and have attracted the personal funds and attention of
    649 words
  • 994 1  -  SATURDAY SOAPBOX loh huil yin JUST when you thought the bidding war for Nat Steel had been won after the management buyout team joined forces with rival 98 Holdings, businessman Oei Hong Leong threw a spanner in the steel works. The canny asset trader has
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  • 773 1  -  Review in Q2'o3 wfll determine when if s possible: Boon Yang By Vince Chong [SINGAPORE] It is unlikely that employers' Central Provident Fund contribution rate will be restored to 20 per cent early next year, in view of the deterioration in the economy
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  • next page
    • 614 2  -  g__M_A R K E T R E V I E W g r sivanithy QUESTION: How many "long-term investors" does it take to change a light bulb? Answer: We don't know and we probably won't know for quite a while because there aren't any erm
      614 words
    • 74 2 sn 1,427.60 (-35.77) ST INDEX FUTURES 1,420.00 (-44.00) SIMSCI FUTURES 175.30 (-6,50) Friday Change KI.SKOIMP B5738 -t|» NIKKKI 225 H.(iM5 72 '45.24 HAVi SKN(i 9.407 «8 3357 SKT INDKX 357 BK «l)4(i JAKARTA ('(IMP ...***** »2«9 MANILA ('(HIP closcd TAIPKIWP1 4.5MI55 -78.59 SK(»I LCOMP M7.S5 1127 SHKNZHKN R 199
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    • 72 2 FOREX RATES US$ S$ I SS (SS per I S$) 1.768 ii(l SS/SS per V) 1565 2.765 El R()|l S$/S$/E) 0991 1.751 YEN 122.7 69 4(1 KM 3.8110 2151) HKS 7 799 4.41.1 KAHT 43.29 24 49 RIP1AH 9.228 5,22<l PRIME RATES SINGAPORE* 5.25 ki;ala lumpur HONG KONG 5
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    • 453 2  -  But sentiment surveys find less enthusiasm among manufacturers By Anna Teo [SINGAPORE] The festive season over the next few months spells "spend" to some business sectors, but "slack" to others. In anticipation of a festive uptick in business, those in the hotel, restaurant
      453 words
    • 575 2  -  Market players split evenly over the issue but govt pressing on By Wong Wei Kong [SINGAPORE] The debate over quarterly reporting won't go away. Just when it seems the question has been settled, with the government confirming that mandatory quarterly reporting would proceed as
      FILE PHOTO  -  575 words
    • 121 2 IN yesterday's report "Bill to protect crucial payment systems tabled". Second Minister for Finance Lim Hng Kiang only read the title of the Payment and Settlement Systems (Finality and Netting) Bill at its first reading in Parliament. The quotes in our report attributed to Mr Lim came from the
      121 words
    • 577 2 Reuters, AP, Bloomberg m [WASHINGTON] The US jn unemployment rate edged in back up to 5.7 per cent in OcJl- tober as businesses cut 5,000 "e- jobs, the government said yesterday in the latest indial cation that the recovery »i- may be
      Reuters,; AP,; Bloomberg  -  577 words

  • in focus
    • 1360 3  -  Instances of abuse of power by MCs have come to light recently. ANNA TEO reports on the need for change after talking to affected people and the BCA ANNA TEO PL is a professional with a few shop units in a commercial building
      REUTERS; FILE PHOTO  -  1,360 words
    • 401 3  -  Byi Anna Teo THE case of the People's Park Centre MC chairman who manages to remain at the helm despite huge arrears is hardly an isolated instance. A similar saga has been unfolding in a neighbouring building, it emerges. In September, BT
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    • 1959 3 TTL HOLDINGS LIMITED i (Incofporated in the Republic of Singapore) NOTICE IS HEREBY GIVEN that the Annual General Meeting of TTL Holdings Limited (the W -f t eld at orch,d Countf y Club Sapphire 2, Social Clubhouse Level II 1 9 Roa d. Singapore *****2 on Friday, 22 November 2002
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  • in the news
    • 703 4  -  Its $1,300 psf of lettable area is significantly higher than current prime CBD office values Bu Kalpana Rashiwala KEPPEL Land's and Dutch group Rodamco's asset securitisation of Capital Square announced yesterday values the building at $490 million or a nearly 6 per
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    • 256 4 Acquisitions and joint ventures the way to go: chief SERIAL System, which recently bought a South Korean electronics distributor for $7.3 million, plans to expand into North Asia to realise its hopes of becoming a billion-dollar revenue company. "We'll do this by acquisitions
      ARTHUR LEE  -  256 words
    • 375 4 Deal with parent part of move to focus on core shipping ops COSCO Investment Singapore (CIS) the Singaporelisted arm of China's largest shipping group is moving further away from the real estate business by hiving off two of its mainland China property subsidiaries
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    • 246 4 SEMITECH Electronics Ltd a local electronics group is eyeing a Sesdaq listing. Started in 1986 as a trader of electronic components and provider of PCB design and fabrication services, Semitech is one of the most diversified electronics groups with three core business divisions: contract equipment
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    • 299 4 S'pore, Shanghai sign brfbcomm MOU SINGAPORE and Shanghai yesterday signed a memorandum of understanding to promote collaboration and the exchange of infocomm information. The MOU was signed by the Infocomm Development Authority and the Shanghai Informatization Office, a Chinese government body looking at IT development in Shanghai. Cooperation
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    • 591 5  -  They say worsening economic uncertainty may dampen any pre-GST promotions By. Audrey Tan THERE'S more bad news for retailers already worried about the goods and services tax increase in January consumers are unlikely to rush to buy big-ticket items to beat the
      FILE PHOTO  -  591 words
    • 583 5  -  But liberalisation of energy market will lower prices: BG Yeo By l Chuang Peck Ming ELECTRICITY cost, like property prices, is likely to stay higher than those in neighbouring countries, according to Ministry of Trade and'lhdustry Minister George Yeo. But that does not
      FILE PHOTO  -  583 words
    • Staying competitive is most important
    • 174 5  -  Robert Alexander Stone Singapore I HAVE a great deal of respect for S Dhanabalan but I couldn't disagree more with his views on quarterly reporting ("Temasek chief hits out at govt move on quarterly reporting", BT, Nov 1). For a large fund manager, it may
      174 words
    • 537 5 News agencies IKUALA LUMPUR) Malaysian Foreign Minister Syed Hamid Albar said yesterday that a water dispute with Singapore may have to be resolved in court but added it was in his country's interest to find a solution. "Do you
      News agencies; AFP  -  537 words
    • 436 5  -  Flats could also be seen more as investment assets By Vince Chong THE relaxation of rules to allow certain public homes to be sublet in whole, after at least ten years of owner occupation, is likely to depress the already weak rental
      436 words
    • 590 5  -  EYEONTHEECONOMY arrivals Byi Audrey Tan THE one-year anniversary of the Sept 11, 2001, attacks probably weighed heavily on travellers in September, causing the number of visitor arrivals in Singapore to drop below the 600,000 mark. Analysts said yesterday that with the Bali blasts
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    • 478 6  -  But they also underline the need lor economic and judicial reforms From\ Shoeb Kagda in Jakarta INDONESIA'S major donors grouped under the Consultative Group on Indonesia yesterday indicated their willingness to provide additional financial support to the government in the wake of the
      REUTER FILE PHOTO  -  478 words
    • 556 6  -  TERROR FALLOUT Call comes ahead of regional summit of leaders on Monday By' Yang Razali Kassim [SINGAPORE] As Asean heads prepare for a summit in Phnom Penh on Monday to troubleshoot the region's declining competitiveness, American business leaders in the region have an
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    • 111 6 Bloomberg Reuters. [SYDNEY] Indonesia has identified one of three suspects in the Bali bombings and begun a manhunt in the sprawling Indonesian archipelago, chief investigator Made Mangku Pastika told Australian media. "We are sending now four teams of the police, the specialised police,
      Bloomberg; Reuters.  -  111 words
    • 119 6 Reuters [BANGKOK] Thai Prime Minister Thaksin Shinawatra yesterday ordered an investigation into letterbombs sent to Myanmar embassies in Japan, Malaysia and Singapore in the past week that Yangon has blamed on political exiles. Myanmar's embassy in Singapore called in the citystate's bomb squad on
      Reuters  -  119 words
    • NOTE BOOK
      • 118 6 Bloomberg inuwu kunoj Hong Kong's phone regulator sided with the city's long-distance carriers against a new rule making calls to China eight times more expensive for phone companies, inflating their costs by US$3OO million a year. China Telecommunications Corp said it was ordered to
        Bloomberg  -  118 words
      • 79 6 Bloomberg IHONG KONG] Cheung Kong (Holdings) Ltd, Sun Hung Kai Properties Ltd and other Hong Kong real estate developers sold HK16.4 billion (511.4 billion) of new flats last month, 17 per cent less than in September, Centaline Property Agency Ltd said.
        Bloomberg  -  79 words
      • 106 6 AFP [HONG KONG] Hong Kong civil service secretary Joseph Wong yesterday called on all civil servants to cut expenditure in order to ease the government's ballooning deficit problem. In a letter addressed to the territory's 180,000 civil servants. Mr Wong called on them to
        AFP  -  106 words
      • 89 6 Bloomberg [KUALA LUMPUR] Malaysia's second biggest political party sold 3 per cent of Nanyang Press Holdings Bhd, cutting its stake in the nation's No 2 Chinese newspaper publisher to 42 per cent, according to stock exchange filings. The Malaysian Chinese Association sold 1.86 million
        Bloomberg  -  89 words
      • 85 6 Bloomberg [KUALA LUMPUR] Malaysia's exports rose in September at their slowest pace in three months as shipments of semiconductors and other electronics goods to the United States, Japan and China eased. Exports rose 13.5 per cent to RM31.3 billion (5514.6 billion) from a year
        Bloomberg  -  85 words
      • 87 6 Reuters [KUALA LUMPUR] Malaysia's Pengurusan Danaharta Nasional said yesterday it had cleared all the bad loans that it took over and recovered more than half of them. The state-run asset manager said it expected to recover RM30.04 billion (5513.9 billion), or 57 per cent, of
        Reuters  -  87 words
    • 589 7 Decision in the anti-trust case will benefit consumers, say prosecutors and Microsoft, but appeals may delay process AP fit consumers. Microsoft has already started complying with the deal by distributing technical data and releasing an update to Windows XP that permits the removal of
      AP  -  589 words
    • 163 7 Bloomberg [TAIPEI] Microsoft Corp said it has offered a settlement to the Taiwan government, which has been investigating allegations that the world's largest software maker inflated the prices of products it sells on the island. "In compliance with relevant Taiwan Fair Trade Commission regulations, we
      Bloomberg  -  163 words
    • 667 7 Reputation, ranking at stake for Merrill and Morgan Stanley Bloomberg [HONG KONG] Merrill Lynch Co and Morgan Stanley have five days to revive China's biggest share sale in two years. Failure would cost more than just fees, investors said. Reputations and future mainland
      Bloomberg  -  667 words
    • 399 7 Bloomberg [LONDON] Crude oil rose for a second day after Russia said the United Nations is nearing agreement on Iraq, ending the deadlock that has delayed the return of inspectors to the Middle Eastern nation. Russian Foreign Minister Igor Ivanov said the
      Bloomberg; AP  -  399 words
    • 398 7 Reuters [TOKYO) Japanese Prime Minister Junichiro Koizumi yesterday left the door open for an increase in government bond issuance for the current year, saying that it might be necessary if tax revenues fell short. The comments come as speculation mounts that Mr Koizumi
      Reuters  -  398 words
    • 279 7 Reuters [WASHINGTON] The US Federal Reserve on Thursday approved sweeping changes in the way it makes short-term loans to banks, lowering hurdles to borrowing but at the same time raising the cost of the loans. The new rules, which go into
      Reuters  -  279 words
    • 407 7 AP, Bloomberg [BRIDGEPORT, Connecticut] Being Jack Welch is expensive U5552,000 a month for gifts, US$9,OOO for food and drink and US$l,9OO for clothes. But he can afford it. The retired chief executive of General Electric Corp disclosed assets of a half-billion dollars, a
      AP,; Bloomberg; REUTERS FILE PHOTO  -  407 words
    • 472 8 Bill Webster's links to a firm facing fraud charges weren't disclosed: commissioners NYT [WASHINGTON] Three investigations began on Thursday into the Securities and Exchange Commission's choice of William H Webster to head a new board overseeing the accounting profession. The oversight board
      NYT  -  472 words
    • 373 8 Bloomberg Reuters, [NEW YORK] Regulators, working on a broad settlement to correct stock research abuses, have told Wall Street firms they will disclose the different fines each one faces within the next two weeks, a source familiar
      Bloomberg; Reuters,  -  373 words
  • Page 4 Advertisements
    • 2109 4 2*9 »22 Email recniitesph.com.su In the Matter of The Companies Act Cap. 50 and In l+ie Matter of WHITNEY ASIA PTE LTD (In Members' Voluntary liquidation) At an Extraordinary General Meeting of rhe abovenamed Company deemed to be duly convened ond held on 31 October 2002, the following Special were
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    • 314 4 In the Matter of The Companies Ad, Cap. SO And In lit* Matter af GENERAL FOOD CORPORATION m. LTD. (Incorporated in the Republic of Singapore) NOTICE PURSUANT TO SECTION 391(4) STATUTORY DECLARATION »Y DIRECTORS Of COMPANY'S INABILITY TO CONTINUE BUSINESS •Y REASON Of ITS LIABILITIES LODGED WITH THE REGISTRAR Of
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  • 3677 6 Transaction date: Nov 1 1 UMfM/tiVVC/ i for more, go to uwwjisicumenmarketsxxmt HONGKONG 10-M -015 1494 CHINA Avwon mc MM OX 1 Lend L*»e Con, 940 J4J r r 3 ""-W- X 3 f *2 3 «s===5S ss »°S 2» 28 tS 5 22! 15 3 7 li
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  • 3924 8 Transaction date: Nov 1 for live prices, log on to ururwjc&iaonemarketsxom IM*7L iS "7 tmqrnm GrfMo Dh> 6rVM MM MbB I ***** Utf WW I*. CM. Mr jttj55 ea —rw> %CW M >3 u. c—, m. w nm mST u, "t g w *Sl M5 9 AOCM 1^
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  • 51 8 ■ae5= <99 S A JT tys."t g ***** 7110 Diamonds US8280 saoo 2no ISDJUST«h l/VTOOcrkd -.II 575 555 l5M505porc USSSScdcd 11W0 8200 ISS4PSOO US8270cdcd ***** f8C SPDHS US8280 I I I I I 1«R 13(3 STltTf too 1453 -7 2 1«53 1453 1450 14S3 I I I I
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  • motoring
    • 1197 9  -  Participants of the 2002 Singapore Motor Show are rushing to bring in the latest and most exotic cars they can lay their hands on. CHRISTOPHER TAN zooms in on those most likely to steal the show when doors open on Novls CHRISTOPHER TAN
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    • 571 9  -  Compiled by CHRISTOPHER TAN Bending the laws of physics REMEMBER your physics lesson on light travelling in a straight line? BMW begs to differ. The German luxury car maker will soon offer what it calls "adaptive light control", a feature that illuminates around corners. The first phase
      571 words

  • in the money
    • 1099 10  -  SHOW ME THE MONEY Analysis shows that those recommendations you thought were great probably came too late to do you any good teh hooi ling The writer is a BT correspondent and CFA charterholder A FEW weeks back, I studied the
      FILE PHOTO  -  1,099 words
    • 503 10  -  By Patrick Peck The author is vice-president at the Paris-based JCF Group THIS past week we've had 29 opinion changes with 18 upgrades versus 11 downgrades. Singapore Airlines announced a five-fold jump in net earnings to $774 million for the six months ended
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    • 1299 11 LAST week, we talked about the high performance fees charged by hedge fUnds, and the additional layer of fees charged by a fund of hedge fluids (FoHF). A chart was inadvertently left out in the article, where reference was made to the
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    • 967 11  -  MONEY TALK Don't expect your agent to honestly tell you to separate insurance from investment, do the Investing yourself and taw a bundle on feet and commissions W Teh Hooi Ling INSURANCE is in no way an investment; if s protection. And making this distinction
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  • 2725 10 UNIT TRUSTS FUNDS nEEsS»E=E iggga- «S &B*igc==«ig £S£sS=tSs aaaiKasaa&asBS gar Europe Eqtyf*T 0 597/ C*mm*+mk AM Mat Fir* State Asia Pac Gth USS 0 352*0 3724 Avrva Countr Gro F#~ 0 78V 0.900M) 940 M 5£ 5 8* Capital Growth(W) 0-802/0.802 Star Europe Bd 1076/ Com Global Finance Index Fd
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  • in focus
    • 380 12 Bloomberg Markets [NEW YORK] In early September, days after Citigroup chairman and chief executive Sanford Weill tapped him to run the company's Salomon Smith Barney unit, Charles Prince joked with colleagues that his unofficial title was chief apology officer. Less than two weeks later,
      Bloomberg Markets; FILE PHOTO  -  380 words
    • 920 12 Sallie Krawcheck is known for her intelligence and drive, as a superb analyst and a smart manager NYT NO one ever questioned the integrity of Sallie Krawcheck's research reports. As an analyst at Sanford C Bernstein, a boutique New York brokerage firm that caters to
      NYT; BLOOMCRG  -  920 words
  • 2234 12 Transaction date:Nov 1 I KUALA LUMPUR —w unch 5 MAAHokkngs .4.40 -0.02 367 Drang 050 -001 2962 *>) i 150 l ldl 0 Resorts World A80 OJO 956 r«M) EWIncfcjstnes A16 inch 0 MegmTech 176 0 01 35 Rex Industry 169 411 6 SSt:" St »i as&====d& "l —iS
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  • 593 12 Transaction date: Nov 1 mrnkrnm 1 Om O— m*wm m a- omm M« i«o -cloio iff -0*20 03C 914 .0000 -0400 OwtfcwIGwa* *5 OJB5 OUC 055 UJO -0i»0 g»«?"l*L iff S S?~rH25c 0J. 04,0 iiw £2SS T1 ifl IMS *2! i.uo -0.020 °??*g *f 2**. *J» 'ftio <1300 Ofy
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  • 526 12 BONDS WARRANTS Mcai to nI r '">"i gj; nm »«M» wa it uw AST1WW***** 17.5 1 16 119 080 19 AonaLtdW*****6 1 1 50 700 3-25 24 AntU* W*****0 D5 -2 2» 1 33 1 148 31 Armstrong W040S20 15 1 10 92 4ffl It Bar 6SSA*****1 10k KM Bar
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  • food/travel
    • 846 13  -  Cooking skills improve with age, as GEOFFREY EU learns from Aussie celebrity chef Neil Perry GEOFFREY EU NEIL Perry isn't a rock star, but he has plenty of adoring fans, nevertheless. That's because he's a celebrity chef which in food terms puts him right up there on the
      COURTESY OF LIFESTYIE CHANNEL S FOOO SOURCE  -  846 words
    • 841 13  -  vijay verghese The writer is a Hong Kong-based journalist My wife can read bar CODES. It's a woman thing. I kid you not. She gives me a withering look every time I eye the delicatessen goods and says: "That's too expensive. Put it back." It's
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  • Page 13 Advertisements
    • 831 13 wine&dine with weekendßT a£Sm»7***** I "resn lasmanian oysters at 51 Relax and relish a wide variety of delectable with special vouchers including VIP discounts. Not gKS2=ssff-~ complimentary choice dessert with any main course Ha«<artß Slagapora ordered with your Diners Club Card. Complimentary 333 Orchard Road. Tel: *****411 Hnt i 7
      831 words

  • what's in style shopping
    • 927 14  -  Security and economic concerns aside, malls are making sure that this Yuletide won't be a whiter shade of pale. MIKE CHUA finds out how they are bringing festive cheer MIKE CHUA WHILE shoppers were being treated to red hong boos and green ketupats in February, Jenny Ng was
      MIKE CHUA  -  927 words
    • Article, Illustration
      678 14 What's new in the stores Before the dust settles When it comes to suction technology, the latest vacuum cleaners have advanced features that make their conventional peers look like dirt. One such machine is the Dyson DCOB Hepa, which boasts Radix 12 Cyclone technology. This is essentially a
      678 words
    • 516 14  -  By* Cheah Ui-Hoon ALL that glitters on the female wrist today aren't necessarily gold bangles or tennis bracelets. It could well be the wristwatch. More than just telling time, watches for women are increasingly worn as bejewelled accessories with diamonds and precious gems galore. "Watches are
      516 words
  • Page 14 Miscellaneous
    • 334 14 CRYPTIC CROSSWORD Hi 111 Ml Hi is m ACROSS 6 An area div c ec re'tgion sssassEassr 1 7 a^sr"" 0 9 Army following up lawyer's He was always illuminating information (4) 11 10 Notes to Clara turned into a 12 When these two birds get written affirmation (11) together,
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  • What's in style the arts
    • 703 15  -  Batsheva's inspiring performance goes down as one of the best in Esplanade Opening Festival, says PARVATHI NAYAR PARVATHI NAYAR THEY sat in a semi-cir-cle of chairs that filled the large, moodily lit stage both physically and in terms of the energy exuding from the dancers.
      PHOTOS BY ARTHUR LEE  -  703 words
    • 591 15  -  Hopes raised by the award-winning film were dashed as the National Ballet of China presented stiff choreography and kitschy gimmicks in 'Raise the Red Lantern' By Cheah Ui-Hoon THE red lanterns were raised, but choreographic standards certainly weren't, in the damp squib that was Zhang Yimou's supposedly-epic
      591 words
    • 341 15  -  By Cheah Ui-Hoon Art collectors will remember Opera Gallery's From Renoir to Warhol exhibition and sale last year when several works by artists like Marc Chagall and Andy Warhol were showcased in Singapore in a large-scale exhibition of master talent. Now, the gallery is bringing back
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  • Article, Illustration
    1021 15 Transaction date: Nov 1 DTTBKBAMM CROSS EATBS 1 >■» Mtf W»» mm '■Nip Nf» Hrn U 9ml Ur m 9M Hmt 0-865 4.608 0.560 4231 26.841 ***** 0.681 6402 240 U« ***** ***** 0.981 1952 0420 I9J28 ***** 0458 0J55 Cam* LBS 1324 1647 1004 ***** ***** 0.787 7J99
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