The Business Times, 9 November 2002

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1 18 The Business Times
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  • Title Section
    Lock icon Masthead
    17 1 MfTA (PI 010/03/2002 85c THE BUSINESS TIMES weekend SINGAPORE NOVEMBER 9-10, 2002 internet titty./'tkisinesr. times ;is«al t.oir.
    17 words
  • Article
    Lock icon Stellar performers on SGX despite market gloom
    899 1  -  EXCLUSIVE Study based on total shareholder value return throws up surprises By Paul Chan [SINGAPORE] SIA Engineering Company has confounded the doomsayers in the post-Sept 11 world with a sterling performance in the 2002 Business Times/LEK Shareholder Value Scorecard (SVS). The subsidiary of
    899 words
  • Article
    Lock icon 98 Holdings makes spirited pitch to NatSteel shareholders
    291 1  -  By 1 Loh Hui Yin [SINGAPORE] 98 Holdings said yesterday that Nat Steel shareholders could face "considerable downside risks" if they don't "actively" accept its offer of $2 a share. Making a strong pitch for the offer, 98 Holdings spokesman David Ban
    291 words
  • Article, Illustration
    Lock icon The missing Asia, Europe link
    1223 1  -  SATURDAY SOAPBOX Asia needs to exploit the power of non-governmental channels if it wants to be heard vikram khanna U A sia and Europe are like two friends who could discover they have a lot more in com- mon than they think, if only they
    1,223 words
  • Article
    Lock icon Good times roll for treasury professionals
    420 1  -  Structured products and derivatives are next big growth area By Larry Wee [SINGAPORE] Treasury professionals in Singapore look set to match or even better the great year they enjoyed in 2001, when revenue jumped 54 per cent and profits soared 68 per cent to
    420 words
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      Lock icon Page 1 Advertisements Column 1
      28 1 (r) UIU/Ui/^UOi? f |I COLLECTKN mF Shanghai Tang: Tj® Fbr the ladies BID FOR NATSTEEL The corporate poker game Pgs Temasek said to be in a fix Pgs
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      Lock icon Page 1 Advertisements Column 2
      29 1 WHAFS IN STYLE Latest building materials to jazz up your not-so-humble abode. PAGE 18 Exceptional performers in hard time* GLCs Ml doing eooutfi to crMte valoe Pgs 6 7
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      102 1 gi 3j IN THE NEWS J T Jiang Zemin eyes capitalists, r entrepreneurs to help h economy, next page IN THE NEWS Expending options debate pits companies against investors. PAGE 3 i/iar^lT,. JKI Jiy Breguet. La passion laisse des traces. Wrist watch "CUssique" in 18-carat yellow gold Self winding movement
      102 words
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      Lock icon Page 1 Advertisements Column 4
      14 1 2001 was bumper year for treasuries, Pg 3 11 111 8 "*****1 '3000CK' 1
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  • next page
    • Article, Illustration
      Lock icon Meandering in predictable fashion
      666 2  -  r sivanithy STOCK markets are supposed to be random and unpredictable creatures, so it may come as a surprise that events this week fell completely within expectations. In last week's column, we wrote that an interest rate play would probably raise the Straits Times Index up
      666 words
    • Article
      Lock icon MARKETS
      76 2 Dsn 1,425.91 (-0.45) ST INDEX FUTURES 1,422.00 (-8.00) SIMSCI FUTURES 175.80 (-0.50) Friday ('hanfji' KI.SKCOMI' »092 MKKKI 225 77 ±».H7 IIAN(iSKN(i__».77l«K 73 711 ShTINDK.X aUM 2-Mi JAKARTA O (Ml* :Wi5 711 :»K7 MANILA 1'OMI' 1.074 12 94* TAjrawPI 4.xI nil ..vttri SKOILCOMP ♦»74.HT» «42 SHENZHEN K ***** 7 Hi
      76 words
    • Article
      Lock icon FINANCE
      73 2 FOREX RATES U8$ S$ l'S8|SSpeiTSS) 1761 V(I'S$/S$ per X) 1.582 27M Kl KO|l SS SS K) I WW 1.777 TEN 120.9 fia.70 KM :IH)N 2.158 HKS 7 799 44-ttl BAIIT 4.112 2449 KIPIAH 9.197 5.223 PRIME RATES SIXiAHIKK* 525 MALA UTUTR ft 40 IIONOKONti 5125 JAKARTA *tim TAIPKI 8625
      73 words
    • Article
      Lock icon HK bourse yields to pressure over quarterly reporting
      351 2 Bnt it's refusing to badge on disclosure of director fees (HONG KONGJ Strong opposition by market participants has led Hong Kong's bourse to delay plans to introduce the mandatory reporting of quarterly results, the exchange's chief executive said yesterday. "In the light
      351 words
    • Article, Illustration
      Lock icon Jiang eyes capitalists, state to help boost economy
      561 2 There are few surprises as he spells out measures to keep the economy booming Reuters [BEIJING) China plans to keep its economy humming through state spending, overhauling the state sector and harnessing the power of its rising capitalists, Chinese Communist Party chief
      Reuters; REUTERS  -  561 words
    • Article
      Lock icon Johor expects bunkering port to be ready in 3 years
      346 2  -  RM7b project to include petrochem, power plant complex From] Eddie Toh in Kuala Lumpur THE proposed bunkering port in Johor which will compete with Singapore on the sale of ship fuel will be ready within three years, according to a
      346 words
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      127 2 Since 1975. our worldwide H|"NB9 over 275 mutti-disciplined professionals I W V including lawyers, chartered accountants V"VI J k K chartered secretanes and bankers have W m provided confidential and cost effective K company formation in all the major low I- tax areas including P1 ii!! LfelwjUj.l 3| Incorporation Fees
      127 words
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  • in the news
    • Article
      Lock icon Expensing options debate pits firms against investors
      981 3  -  KPMG partner suggests tax concession to soften impact for companies By Til Wong Wei Kong THE question of expensing stock options in Singapore may prove as contentious, or even more so, than the debate over mandatory quarterly reporting. And the debate is likely
      981 words
    • in brief
      • Article
        Lock icon DeaT« off for TO Electric raven* takeover
        68 3 ITE Electric said it has been informed on a "without prejudice basis" by Salcon that due to the change in the management of Salcon as announced earlier, it is no longer in the interest of Salcon to proceed with the proposed reverse takeover.
        68 words
      • Article
        Lock icon taivoatoi to nil tflw Into Wee Ftk
        86 3 LOSS-MAKING construction group Wee Poh Holdings said yesterday it has inked a memorandum of understanding with a strategic investor introduced by UOB Kay Hian. Wee Poh will issue 1.6 billion new shares to Tay Hung Cheow for $8 million—0.5 cent a share—in cash.
        86 words
      • Article
        Lock icon CSA'sHK writ posts 20K drop In net fatal
        46 3 CSA Holdings' Hong Kong-listed subsidiary Automated Systems Holdings yesterday reported a 20.4 per cent drop in net profit to HK$18.9 million (S$4.3 million) for the six months ended Sept 30. Turnover fell 16.8 per cent to HK$523.14 million.
        46 words
      • Article
        Lock icon star Um Sett prom down 42% to $Z8m
        76 3 SING Lun Holdings reported a 41.9 per cent drop in group net profit for the nine months ended Sept 30 to $2.8 million. The garment maker and trading and distribution group blamed the slide on a further intensification of competition in the
        76 words
      • Article
        Lock icon CapitaLand incorporates new China unit
        32 3 CAPITALAND'S indirect wholly-owned subsidiary, CapitaLand China Holdings, has incorporated a wholly-owned subsidiary, CapitaLand (China) Investment, China. An investment holding company, CICC has registered capital of US$30 million.
        32 words
      • Article
        Lock icon SembCorp on waste management transfer
        52 3 SEMBCORP Industries yesterday said the businesses of its wholly-owned companies RDC Pte Ltd and SEMES Pte Ltd have been transferred to the holding company SembCorp Waste Management as business divisions from Oct 1 this year. The transfer of businesses was part of SembCorp Waste Management's
        52 words
      • Article
        Lock icon Skigapura Finance chairman steps down
        53 3 VETERAN businessman Teo Soo Chuan has stepped down as chairman of Singapura Finance. Teo Chiang Long has replaced him as chairman and will continue to be the managing director and chief executive officer. The board also appointed Teo Miang Yeow, son of the new chairman,
        53 words
      • Article
        Lock icon ST Aerospace buys out IShopAero
        53 3 SINGAPORE Technologies Engineering said its subsidiary ST Aerospace, through its wholly-owned subsidiary ST Aerospace Supplies Pte Ltd, has taken over the remaining 35.29 per cent shareholding in iShopAero Pte Ltd from its joint venture partner, iMerchants. With the acquisition, iShopAero is now a wholly-owned subsidiary
        53 words
      • Article
        Lock icon DBS to launch credit card for yuppies
        62 3 DBS Bank will launch a new credit card tomorrow targeting "young, upwardly mobile professionals" in the 25-35 age group. Annual fees for the new card, named DBS mc2 MasterCard, will be waived for the first two years. Among the perks for cardholders are
        62 words
    • Article
      Lock icon Penton soldiering on despite range of problems
      666 3  -  By' Ven Sreenivasan KEY directors resigning. Auditors refusing to approve accounts. Creditor banks knocking on the door. Strategic investors pulling out. Shares slumping. Credit lines drying up. What can a company do, confronted by such problems? If you were the directors of plastic
      666 words
    • Article, Illustration
      Lock icon Thakral Corp back in the black with $7m H1 net profit
      319 3 THE pendulum has swung in Thakral Corp's favour. From an interim net loss of $6.6 million last year, the consumer electronics distributor has moved into the black in the first half of the current year with a net profit
      FILE PHOTO  -  319 words
    • Article, Illustration
      Lock icon 2001 – a bumper year for S'pore treasury activities
      439 3  - 2001 a bumper year for S'pore treasury activities By\ Larry Wee THE year 2001 was a great year for banks with treasury operations in Singapore, despite a slight increase in operating costs, a small reduction in total manpower, and a 19 per cent dip in global foreign exchange trading. Compared
      FILE PHOTO; Source: MAS  -  439 words
    • Article
      Lock icon M1 IPO price in range of $1.30-$ 1.60 a share
      159 3 Reuters SINGAPORE'S second cellular operator Mobile One has indicated a price range of $1.30 to $1.60 a share for its planned initial public offering, industry sources said yesterday. Ml, which has approval from the Singapore Exchange for its IPO, is
      Reuters  -  159 words
    • Article, Illustration
      Lock icon Use of CPF funds to buy insurance falls sharply
      391 4  -  Q3 new business premiums plunge 62% to $2.15b as insurers struggle to compete with CPPs guaranteed rates Ryi Genevieve Cua THE flow of CPF savings into insurance products slowed sharply in the third quarter as the low interest rate environment and
      Source: LIA  -  391 words
    • Article
      Lock icon OOCL to centralise transhipment in Singapore
      477 4  -  Audrey Tan HONG Kong-based Orient Overseas Container Line (OOCL) said yesterday it will centralise its transhipment business in Singapore, after signing a new "long-term" contract with PSA Corp offering better rates and the option of setting up dedicated berths. The deal represents another triumph
      477 words
    • Article
      Lock icon October job ad volume up 18%
      313 4  -  EYE ON THE ECONOMY labour By. Anna Teo WHILE September's newspaper job advertisement volume was hit by the "calendar effect", last month's ad numbers at least the percentage changes were boosted by an exceptionally low base. After tentative signs of recovery in July and
      313 words
    • Article, Illustration
      Lock icon AFPD's LCD plant marks push for new niche
      513 4  -  It is biggest thin-film transistor LCD facility outside Japan By\ David Boey THE 35-hectare Advanced Display Park in Tampines saw its first plant opening yesterday AFPD Pte Ltd's $1.8 billion liquid crystal display (LCD) facility underscoring Singapore's push towards a new manufacturing
      ARTHUR LEE  -  513 words
    • Article, Illustration
      Lock icon Sony, Merck chiefs awarded for personal contributions
      270 4 Their support over the years has been invaluable to S'pore THE Economic Development Board has chosen two international investors for its Distinguished FYiends of Singapore award this year Norio Ohga of Sony Corporation and Raymond Gilmartin of Merck Co. The award is the
      270 words
    • Article
      Lock icon Exxon to move some functions to Bangkok
      126 4 Bloomberg [TOKYO] Exxon Mobil, the world's top publicly traded oil company, said it will shift some Asia-Pacific business functions such as human resources and accounting to Bangkok from other offices to cut costs. The refiner said it will start up a business support
      Bloomberg  -  126 words
    • Article
      Lock icon Basement collapse delays condo works
      278 4  -  By Vince Chong CONSTRUCTION work at the Grosvenor View condominium in Lengkong Empat has been delayed for two to three months, sources said, after parts of the basement work collapsed on Wednesday as a result of rain. A large part of the cost incurred will
      278 words
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      Lock icon Page 3 Advertisements Column 1
      445 3 Can toU-free 1800 289 8822 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF I MARK COMMUNICATIONS PTE LTD (IN MEMBERS' VOLUNTARY WINDING UP) NOTICE OF RESOLUTION NOTICE IS HEREBY GIVEN that an Extraordinary General Meermq of Members of 'MARK COMMUNICATIONS PTE LTD wot convened
      445 words
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      377 3 IN THE MATTER OF THE COMPANIES ACT (CAP. SO) BRAINCAPfTAL TECHNOLOGIES PTE LTD MEMBERS- VOLUNTARY LIQUIDATION Al on Extroordmory General Meeting of BRAIMCAPITAI TECHNOLOGIES PTE LTD held at 10 Anson Rood #21-12 International Piaxo Singapore *****3, on 1 st day of November 2002 the following resolutions were duly posted AS
      377 words
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      37 4 Ife ©tk I H Lianhe Zaobao B I Agreement by telcos I I here means I I their handphone I I subscribers can soon I I send MMS I I messages to I I each other I
      37 words
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  • in focus
    • Article, Illustration
      Lock icon Corporate poker's the game
      1280 5  -  As the countdown to the crucial dates continues, the opposing camps wait for each other to make the next move. LOH HUI YIN and SERENA NG report LOH HUI YIN,SERENA NG THE 98 Holdings offer for Nat Steel may have been endorsed by the steel mill's
      1,280 words
    • Article
      Lock icon Sell NatSteel stake to highest offeror, minorities tell DBS
      818 5  -  By Angela Tan SHOULD the DBS Group accept Oei Hong Leong's offer to buy its 14.67 per cent stake in Nat Steel Ltd? The decision may not be straight forward for DBS, but minority shareholders say the matter is clear-cut: Accept
      818 words
    • Article
      Lock icon Take 3 and call me in the morning
      328 5 IS there some magic in the figure "three" in the drawn-out Nat Steel takeover drama? It would seem so, going by the pricing of offers. First, 98 Holdings, led by hotelier Ong Beng Seng, launched a counter-bid of $1.93 apiece three cents
      328 words
    • Article
      Lock icon Temasek said to be in a fix over NatSteel turns
      728 5  -  tt wants to sell its stake for a good price but keep opportunists at bay—and be fair By Serena Ng GOVERNMENT-OWNED Temasek Holdings, which is committed to realising the best value of its investments, is believed to be in a
      728 words
    • Article, Illustration
      Lock icon Exceptional performers in hard times
      305 6 Despite the difficult economic environment, some companies—mostly small-cap stocks— managed to double shareholder value THIS year's BT/LEK Shareholder Scorecard was produced amid the most turbulent period for stock markets in a decade. Yet many companies turned out to be highly profitable investments for their shareholders.
      Source: LEK Singapore scorecard 2002  -  305 words
    • Article
      Lock icon TSR scorecard – top 400 Singapore companies
      1305 6 TSR scorecard top 400 Singapore companies TSR scorecard top 400 Singapore companies m HA* 1$fl NAME tBI I Wi 1-YEAfl 3-YEAfl 5-YEAR 1-YlAfl 3-YEAfl 5-YEAR 1-YfAfi ivfAo wrta 1-YtAR 3-YEAR 5-YEAR 1-YEAR 3-YEAR 5-YEAR A 51 2 215 ExceJ Machine Toots -41.4 -50.9 -32-6 Lee Kim Tah .144 .111 c
      1,305 words
    • Article, Illustration
      Lock icon GLCs not doing enough to create value
      475 7  -  Of 17 listed GLCs, only six gave positive total shareholder returns in the 12 months to June 30, reports PAUL CHAN PAUL CHAN GLCs or TLCs, catchy acronyms serve a purpose but it is undoubtedly performance that counts. Or to be more exact,
      FILE PHOTOS  -  475 words
    • Article
      Lock icon Why competitive advantage and shareholder value dovetail
      1520 7  -  By Alfred Rappaport IN the *****, CEOs talked consistently about two dominant business objectives: establishing competitive advantage and creating shareholder value. Unfortunately, even today some chief executives believe that these are conflicting objectives rather than equivalent objectives originating from a single economic framework.
      1,520 words
    • Article
      Lock icon Creating value
      92 7 Top 20 companies by absolute 1 year-TSR* (*n) United Overseas Bank 2,497.17 SIA Engineering 1,055.97 KeppelCorp 919.83 Singapore Airlines 663.85 Hong Leong Sing Finance 522.06 Venture 474.72 S'pore Airport Term Svs 447.11 ST Assembly Test Svs 446.27 Want Want Hldgs 422.60 Cycle Carriage 407.35 Asia Pacific Breweries 356.70
      92 words
    • Article
      Lock icon Reforming executive compensation
      614 7  -  Indexed stock options could replace stock options By< J Sharad Apte, Bob Neapole IN the early *****, corporate 5 boards in the US concluded that stock options repret sented the best way to link r management and shareholder interests. Based on f this view and bolstered by
      614 words
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  • in the news
    • Article
      Lock icon Jakarta selects 4 bidders for Indosat
      411 8 ST Telentedia among candidates eyeing slake; final bids expected to be received by early Dec Reuters [JAKARTA] Indonesia yesterday shortlisted four bidders from eight for a large stake in telecoms giant Indosat amid fears it might not be able to meet the targeted proceeds
      Reuters  -  411 words
    • Article, Illustration
      Lock icon Al-Qaeda behind Bali bombings: Indonesia
      336 8 TERROR FALLOUT Detained suspect linked to Jl 9 says defence minister Reuters [JAKARTA] Indonesia yesterday said that Osama bin Laden's al-Qaeda network was behind the Bali bombings and that the attackers wanted to kill as many Americans as possible. Defence Minister Matori Abdul Djalil told
      Reuters; AP  -  336 words
    • Article
      Lock icon SIA cuts daily flights to Bali
      98 8 AFP [SINGAPORE] Singapore Airlines (SIA) has reduced its daily flights to the Indonesian resort island of Bali due to weak demand in the aftermath of a deadly carbomb attack, the carrier said yesterday. "We have reduced flights to Bali from four to three times
      AFP  -  98 words
    • Article
      Lock icon Oct Bali bombing diverts some tourists to Philippines
      300 8  -  From, Al Labita in Manila THE Oct 12 terrorist bombings in Bali have diverted some earlier Bali-bound tourists to the Philippines instead. Some 150,000 tourists visited the Philippines last month, roughly 10 per cent up over the September figure. Department of Tourism
      300 words
    • Article
      Lock icon KL stuns with Sept industrial output up 1.8% from Aug
      424 8 Reuters IKUALA LUMPUR] Riding into a potential slowdown in global demand, Malaysia's export-oriented economy showed a bit more durability than expected in its September industrial output data released yesterday. The industrial production index (IP1) rose 1.8 per cent month-on-month in
      Reuters  -  424 words
    • NOTE BOOK
      • Article
        Lock icon HK probes Aussie ex-Insurer's death
        102 8 AFP (HONG KONG) Hong Kong police were investigating the traffic-related death of an executive who oversaw Australia's largest corporate collapse, a police spokeswoman said yesterday. Randolph Wein, the former chief executive of Australia's failed insurance giant HIH, was killed yesterday when his motorcycle crashed into
        AFP  -  102 words
      • Article
        Lock icon Last chance for ailing KL listed firms
        46 8 Bloomberg (KUALA LUMPUR] Malaysia said ailing companies that fail to meet a Dec 31 deadline to restore their financial position will be given a final opportunity to state why they should not be removed from the stock exchange. Bloomberg
        Bloomberg  -  46 words
      • Article
        Lock icon M'sian Bemas, Indofood sign deal
        63 8 Reuters [KUALA LUMPUR] Malaysia's largest rice trader Padiberas Nasional Bhd (Bernas) and Indonesia's food giant Indofood Sukses Makmur signed a memorandum of understanding (MOU) yesterday to jointly market their products. The deal, signed in Jakarta, forms part of a Bernas plan to diversify into the
        Reuters  -  63 words
      • Article
        Lock icon Bank Mandiri IPO delayed to Q1 next yr
        31 8 Bloomberg I JAKARTA] Indonesia will delay PT Bank Mandiri's initial share sale to the first quarter of next year from this year. Bloomberg
        Bloomberg  -  31 words
      • Article
        Lock icon Jakarta doubles planned bond sale
        69 8 Bloomberg [JAKARTA] PT Bank Negara Indonesia doubled a planned bond sale to US$l5O million to meet investor demand in the nation's first sale of debt denominated in US dollars since a terrorist attack on Bali on Oct 12. More than half the 10-year bonds were
        Bloomberg  -  69 words
      • Article
        Lock icon Vietnam may let foreign firms list
        77 8 Bloomberg [HO CHI MINH CITY] Vietnam may allow banks and foreign companies to list on its two-year-old stock exchange, aiming to revive the VN Index, which has slid 26 per cent this year. The proposals from the State Securities Commission may help the Ho
        Bloomberg  -  77 words
      • Article
        Lock icon Delivery firms settle row with China
        92 8 AP [BEIJING] The world's four major express delivery companies say they have settled a dispute over the Chinese post office's attempt to limit their operations in China. US officials had complained to Beijing about the restrictions, which threatened to violate China's World Trade Organization
        AP  -  92 words
    • Article
      Lock icon UN Security Council passes tough new Iraq resolution
      483 10 It toughens UN weapons inspections, leaves US free to take military action if inspectors say Iraq is not complying AP. Reuters [UNITED NATIONS] The UN Security Council unanimously approved a tough new Iraq resolution yesterday, forcing Saddam Hussein to disarm or face
      AP.; Reuters  -  483 words
    • Article
      Lock icon China's vilified capitalists come through
      674 9 But tycoon Zeng Wei doubts Jiang's speech will cause fat cats to throng Communist Parly Reuters [BEIJING] Zeng Wei's office wall boasts a dozen photographs of him in the exclusive company of American presidents, but not until now did the Chinese entrepreneur feel welcome by
      Reuters  -  674 words
    • Article
      Lock icon BOC(HK) and Esprit added to Hang Seng Index
      186 9 Bloomberg [HONG KONG] BOC Hong Kong Ltd and Esprit Holdings Ltd were added to the Hang Seng Index, replacing developers Hang Lung Group Ltd and Hysan Development Co. The city's second-biggest bank and its largest fashion retailer were added because of their
      Bloomberg  -  186 words
    • Article, Illustration
      Lock icon Foreigners cool to China reforms
      643 9 They are wavy off high valuations, lack off transparency Reuters [HONG KONG) China's move to liberalise its US$5OO billion stock markets failed yesterday to ignite the interest of foreign investors, who are wary of sky high valuations, lack of transparency and regulatory risks. "Initially, we
      Reuters; AFP  -  643 words
    • Article
      Lock icon Hutchison plans 300 3G shops in UK
      256 9 Reuters [HONG KONG] Hutchison Whampoa plans to open 300 shops in the UK by the end of 2003 to sell its third-genera-tion cellular phone service, managing director Canning Fok told reporters yesterday. The ports-to-telecoms conglomerate. controlled by Asia's wealthiest tycoon Li Ka-shing, is
      Reuters  -  256 words
    • Article
      Lock icon Off-market derivative trades up 15% to US$128t
      270 10 Bloomberg [BASEL, Switzerland] Derivatives trading outside exchanges grew 15 per cent to a record US$l2B trillion in the first half of the year, driven by contracts pegged to interest rates, the Bank for International Settlements said. The market is more than four times
      Bloomberg  -  270 words
    • Article
      Lock icon Fraud's the top worry of investors: survey
      212 10 LAT-WP [ATLANTA] Stock market investors rank corporate accounting fraud ahead of the loss of wealth and "the state of the US economy" as reasons for losing confidence in Wall Street over the past 2Vi years, a new survey shows. The Securities and Industry
      LAT-WP  -  212 words
    • Article, Illustration
      Lock icon Vivendi to sell utility business
      384 10 Plan excites investors; company's shares shoot up Reuters, NYT [PARIS] Shares in indebted French-Ameri-can media group Vivendi Universal jumped sharply yesterday after the company unveiled a plan to exit its historic utility business and raised its target for asset sales. Vivendi said on Thursday it
      Reuters,; NYT; AFP FILE PHOTO  -  384 words
    • Article
      Lock icon Priciest shopping still in Manhattan
      354 10 Reuters (LOS ANGELES] As far as the world's richest shoppers are concerned, they'll still take Manhattan with Paris' Champs-Elysees a poorer second. The most expensive shopping district in the world remains a crowded but shimmering stretch of stores along three streets on Manhattan's tony East
      Reuters  -  354 words
    • Article
      Lock icon AMD to shed up to 20% of staff
      374 10 Infineon posts Q4 pretax loss off 292 m euros, which is worse than expected Bloomberg [SUNNYVALE, California] Advanced Micro Devices (AMD) will cut 10-20 per cent of its workforce by the end of next year as the com-puter-chip maker tries to restore
      Bloomberg  -  374 words
    • WORLD WATCH
      • Article
        Lock icon Telstra sate gets go-ahead after report
        53 10 Bloomberg [MELBOURNE] Australia can proceed with plans to sell its As3o billion (Ss3o billion) stake in Telstra Corp, after a government-commissioned report found the phone company's service to rural customers was adequate. The study was made by a cotton farmer in New South Wales
        Bloomberg  -  53 words
      • Article
        Lock icon ABB to axe 10,000 more jobs
        51 10 Bloomberg [ZURICH] ABB, Europe's biggest electrical engineering company, plans to shed at least 10,000 more jobs to revive earnings. It aims to reduce costs by US$BOO million within 18 months after losses widened and the Swiss company increased payments for asbestos lawsuits to US$l
        Bloomberg  -  51 words
      • Article
        Lock icon Commerzbank mulls 2,000 more job cuts
        55 10 Bloomberg [FRANKFURT] Commerzbank AG, Germany's fourth-largest bank, is considering shedding about 2,000 more jobs, or 5 per cent of the workforce, as loan losses mount and investment banking revenue slumps, union representatives said. The 132-year-old company may eliminate jobs in Frankfurt and Dusseldorf, as
        Bloomberg  -  55 words
      • Article
        Lock icon McDonald's warns of profit drop,sackings
        50 10 Reuters [OAK BROOK, Illinois] Fast-food giant McDonald's said yesterday it would close about 175 restaurants worldwide and will miss its 2002 earnings estimate. The company said it will cut 400 to 600 jobs. The actions will reduce fourth-quarter earnings by US$35O million to US$425 million.—Reuters
        Reuters  -  50 words
      • Article
        Lock icon Al-Qaeda planning new attacks: Interpol
        66 10 Reuters [PARIS] Al-Qaeda militants seem to be preparing simultaneous attacks in several countries including the US, the head of worldwide police authority Interpol said. Without saying an attack was imminent, Interpol Secretary General Ronald Noble told Paris daily Le Figaro that recent intelligence suggested it
        Reuters  -  66 words
      • Article
        Lock icon Merrill Lynch fires chief economist
        47 10 Bloomberg [NEW YORK] Merrill Lynch fired chief economist Bruce Steinberg, sources said, making him the second top research official to be dismissed this week. It also fired Matthew Higgins and David Horner, an international economist and financial strategist, respectively, the sources said.—Bloomberg
        Bloomberg  -  47 words
    • Article, Illustration
      Lock icon GE to make board more independent
      527 11 Bloomberg [FAIRFIELD, Connecticut] Sun Microsystems CEO Scott McNealy and Fiat SpA chairman Paolo Fresco will step down as directors of General Electric Co as it makes corporate boards more independent. GE will have a 17-mem-ber board from Jan 1, with 11 members fitting its
      Bloomberg  -  527 words
    • Article
      Lock icon Webster's tenure in new post looks shaky
      336 11 Release of documents on his rote at US Technotogtes adds to uncertain* Reuters [WASHINGTON] William Webster's future as the head of a new US accounting oversight board looked shaky on Thursday. Sources close to the board and the Securities and Exchange Commission (SEC)
      Reuters  -  336 words
  • Article
    Lock icon UNIT TRUSTS & FUNDS
    3317 8 UNIT TRUSTS FUNDS 5 Barney Select Eqty Dividend Ptfl 083/ s B Set Gib Business Ldrs Ptfl(SGD) CSV S B Sel Gtb Business Idrs Ptfl(USD) 0 84/ MM Amro A&rt Mgt (S'porc) Star Europe Eqty'* 1 0 606/ CornmnMi AM Mot Star Europe Bd t 093/ Com Global Finance Index
    3,317 words
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  • Article
    Lock icon KLSE
    2142 9 Transaction dale: Nov 8 H KUALA LUMPUR 1 mo -002 2 Vol FSaM 184 unch 0 8M r00O) FW Industries .0.16 unch 0 Gadang AM -002 5 A AM Realty .0.90 unch 0 Gamuda S.7S 0.05 224 Abrtc 1.16 unch 81 GanadCorp .0.74 -0.02 1 ACPInAathes -2 90 unch
    2,142 words
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    Lock icon SGX
    684 9 Transaction date:Nov 8 5 *1 w a— Of. MS J*" <a0 044 2010 *0.010 o£Jwi«rfx, II! !i* OCK 9.52 10 400 J2 9"* 055 (400 *0.150 G2*£IT»c O» r-^-» H »c Ofl 0400 -0 005 VWWiBc 0.70 13 500 *0-200 SGX 1c 08S 1.110 sssin*"* &T SjST 0 OH
    684 words
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    Lock icon BONDS & WARRANTS
    515 9 BONDS WARRANTS if* WCw ta tar <•"»"> if cmm Mi Ma Uft A5TIVW)4062, ,7 5 16 .39 OHO 19 Aon* Ltd MAM 111$ 2 1 50 TOO 325 24 Amtek MQ***** ft unch 90 1 33 -1 151 31 Am«rongW*****0 S 1 10 109 3 67 It Bar6HSA*****1 10k Sar6S*J*****01
    515 words
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  • Article, Illustration
    Lock icon FINANCE
    1133 10 Transaction date: Now 8 IHTERBAHK CROSS RATES CS «wt Euro HK$ Ind to Buplah Yen Won M 18 Mh s$ tmi «r MTS B<W pq mt us$ Australia 0 880 4.693 0.560 4.411 ***** 52.014 0.684 6.828 2.149 1134 33.19® 29.923 0.996 5.508 0.820 19.517 24.387 0.358 0.5<6 Canada
    1,133 words
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  • Article
    Lock icon SGX MAINBOARD
    2642 11 Transaction date: Nov 8 for live prices, log on to uyu y u >xisiaonema rkets.com a A ■P-a.*s.*t a-; gra ABNAmroNLG SCc 9 ,j i rf 4 4 2 2 8 3 «Su!oJ®ZZZ i^o 5 405 3 25 8 «i S 4, 5 45 5 a 7 .8
    2,642 words
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    Lock icon SGX XTRANET
    35 11 —99 a A a™ s -a 'SS ffiS.-rzr iSS*™*"" in SS5 RMSCISpor. USSSScdcd "MO U00 tSSAPSOO UM270cdcd 117* CIO VW USBiSO I anTO iios 1)13 snrrnoo 1455 s 0 )455 1455 145S 1460
    35 words
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    Lock icon SGX SESDAQ
    684 11 «Si"u» 'imp.Ill S w- rmi GfOw On GrTW MM MCa ittt w- r*«B) Hi» u» Brnrm Sa*m Cw n tJl 22.5 9 ABRHIdgs5c M -1 1 in in in n 'S Safer jj j s 115 K n?•? r Si B 6 AwnMKro fc 8 9 247 MS
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    Lock icon CLOB INTERNATIONAL
    234 11 P*y L»«Oi»U GfOte On GrYld Nrt MCm> C "T—I Mt w rww Imm rnrrm UMm Cvr Ml ti3 n i£?t? 0 5 37 935 5 93 94 40 W7 54 2012 265 21 74 6 243(62 vJ*ung Kong50c MK170O 240 6 3 67 atbxk 55 45 City* 5o*ut>on»U
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  • in the money
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      Lock icon SRS as a savings fund for emergencies
      808 12  -  M 0 N E Y T A It makes sense for high-income earners those wfth a marginal tax rate of at least 15% or those Mining over $150,000 a year By 1 Teh Hooi Ling THE Supplementary Retirement Scheme introduced by the government
      Compiled by BT  -  808 words
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      Lock icon Hassle-free way to manage funds
      542 12 HOW can you make your hard-earned money work for you without having to go through the hassle of writing cheques and moving funds manually, so that you can focus on your investment strategy? The answer could be a cash management account offered by some brokerage
      542 words
    • Article
      Lock icon Positive*
      206 12 ESS3T9KKSKSWESS Beyonics Technology B j O i 1.25 C«p*«L«nd BI H 1.38 Chartered Semicon H,H i S,S j 2.45 Comfort Group B| O 14X> Creative Technology H j U i 2.00 Dairy Farm H j NR j 2.00 DataeraftAsia H U j 2.33 RratCaplWCorp Hi S j 2.63 Informatics
      206 words
    • Article
      Lock icon Datacraft among this week's 25 upgrades
      348 12  -  By Patrick Peck The author is vice-president at the Paris based JCF Group THIS week saw 36 opinion changes, with upgrades surpassing downgrades by 25 to 11. There were 29 changes last week. Keppel Corporation's third-quarter earnings suggest the company is on track to
      348 words
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      Lock icon Spread your risk, play the index
      1919 13  -  SHOW ME THE MONEY Buying the STI actually diversifies your portfolio because many index stocks sell their wares globally teh hooi ling The writer is a BT correspondent and CFA charterholder IF you put all your money in the Straits Times Index, you are
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    Lock icon BT SHARE INFORMATION SERVICE
    1735 12 for week beginning Nov 4 Mat MTU EK Dale TY ir TY LY Ci«pw| a— ffn ($m) (cte) (tw> AM Htdgi 30-Sep I 3 0701 3 0721 1 591 159L Aon» 30-Sep I 17 3531 6 5581 22L ML AscottGrp 23-Oct 0325 681 7 619 1
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  • Article
    Lock icon STOCKS ASIA
    4900 13 Transaction date: Nov 8 for more, go to wwwxisicumenmarketsxxmi I HONG KONG HK Exchanges ft Clearing. 10.35 -0,15 4420 W HKR lot'l .1.34 unch 409 *0 Hong Kong Electric .3130 -0.40 4795 Hongkong CNneve .0.54 unch 400 on} "ongkong Chinese Ltd 0.54 unch 400 AnandayWngOn„.002 unch ***** Hopewell
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  • motoring
    • Article, Illustration
      Lock icon The modern art of selling cars
      545 14  -  When SM Motors unveiled its art loft within the showroom, it launched the Volvo XC9O too By Christopher Tan YOU*d think putting an art gallery in a car showroom is a forced and pretentious attempt at adding tinsel to glamorise tin. But at Volvo
      545 words
    • Article, Illustration
      Lock icon the joys of Six
      681 14  -  CHRISTOPHER TAN discovers earthly pleasures in the 2.3-litre Mazda 6 not found in its slightly less-endowed twin CHRISTOPHER TAN SMALL things often make a big difference. Take away Cindy Crawford's mole and she becomes just another pretty face. Give Rod Stewart a lozenge and no one
      681 words
    • BRAVE NEW WHIRL
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        Lock icon A rare Bu^s crept in
        106 14 SOMEONE in Singapore has imported a Volkswagen Beetle RSi, a limited edition 3.2-litre 224-horsepower Bug made only in left-hand-drive mode. The car, with an open-market value of over $100,000 (higher than a Mercedes-Benz S-class), has 320 newton-metre of torque and does 0-100 kmh in 6.9
        106 words
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        Lock icon Car-t yourself to Genting
        91 14 THE Automobile Association of Singapore is organising a car-venture in December. The driving holiday to Genting Highlands includes a stay at the Colmar Tropicale a replica of buildings from a north-eastern village in France dating back to the 16th century. At Colmar, participants would be celebrating
        91 words
      • Article, Illustration
        Lock icon Celine Dion, Sharon Au to help drive Chiysler
        152 14  -  <Jompiiea by Christopher Tan CHRYSLER is forming a "multi-year partnership" with singer Celine Dion, reports just-auto.com. The agreement covers a wide array of marketing, promotional and advertising activities. The partnership starts early next year, with a Chrysler TV spot featuring Dion, best
        152 words
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  • what's in style food
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      Lock icon Feast for the senses
      1055 15  -  Australian culinary veteran Tony Bilson is in town with a mission to reacquaint foodies with their sensual side, writes JAIME EE JAIME EE TONY Bilson may be the granddaddy of Australian cuisine but he's still going strong, and as his current promotion at Centro 360 implies,
      FILE PHOTO  -  1,055 words
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      859 15 wine&dine with weekendßT Blua Lobster 20Upper Circular Rd ÜBl 49/ V) Thpßiiwriiynik a cosy yet elegant ambience. Till Jan 15, enjoy one Chatterbox coffeehouse. RsHlmMwlm Tel&om "81-49/50, The R,verwalk. complimentary choice dessert with any main course 10 Turn Motive. TeL <M ***** ordered with your Diners Club Card. Complimentary Naafc
      859 words
  • Page 15 Miscellaneous
    • Miscellaneous
      Lock icon Page 15 Miscellaneous Column 1
      192 15 CRVFTIC CROSSWORD DOWN 1 Space ill-used to produce Ja- 1 5 Gypsy gentleman found in Oregano, 10 Options, 11 Overmaican pepper (8) Peckham (3) tones, 12 Noise, 13 Sheer, 15 2He also called Ulysses a he- 17 Periods given wholly, from Getting on 17 Freighter 19 the sound of#, to
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  • what's in style collections
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      Lock icon Fitting change
      595 16  -  Nothing lasts forever on the competitive retail scene but two stores Dockers and Shanghai Tang have taken steps to stay fresh to shoppers. We find out how they did it By Cheah Ui-Hoon IT'S generally accepted that changing rooms affect shopping habits and decisions. But how many brands
      595 words
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      Lock icon Measure for measure
      717 16  -  Shanghai Tang is taking personal service to the next level by having bi-annual trunk shows featuring made-to-measure qipaos for its customers. JAIME EE reports JAIME EE IT'S already become quite a truism that for retailers to survive, they need to go beyond just that stuff on ashelf
      ARTHUR LEE  -  717 words
    • Article, Illustration
      Lock icon All that glitters
      252 16  -  By\ Corinne Kerk THE coming week will see Milan-based jeweller, Fulvio Maria Scavia, showcasing his latest jewellery collection in Singapore. The jeweller whose clients range from celebrities like Elizabeth Taylor and Naomi Campbell to Sin-gapore-based Indonesian tai tais and European and Middle Eastern aristocrats is Known ior
      252 words
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      Lock icon Taking a shine
      638 16  -  If s not enough to wish upon a star for one of Chanel's diamond jewelieiy pieces, having deep pockets mil definitely help Ryi Corinne Kerk Twinkle twinkle little star Boy do I know what you are Sitting in your case so bright Even ifyour price is right
      638 words
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  • art/shopping
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      Lock icon Simple appeal
      821 17  -  The strongest works of Italian sculptor Anna Chiara Spellini are also her simplest ais PARVATHINAYAR discovers PARVATHI NAYAR VERONA and Singapore? It's a somewhat unexpected juxtaposition but, in a sense, that's one of the links that Verona-based sculptor Anna Chiara Spellini is trying to achieve with her artwork.
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    • IN STORE
      • Article, Illustration
        Lock icon Key convenience
        76 17 What's new in the stores Quick, make space in your wallet for this keyring. Called the ICE Ultralite, it's a mini-toolbox at your fingertips. The credit card-size pack comes with a mini-light, ball-point pen, letter opener, paper cutter, box cutter, flat and phillips screw-drivers, a screw-driver socket (for
        76 words
      • Article, Illustration
        Lock icon Take your shot
        91 17 Like handphones, digital cameras are pushing technological frontiers further with each launch. One that's worth checking out is the Olympus Camedia C-4000Zoom. It offers a vast selection of shooting modes, and ultra fine settings for white balance, sharpness, contrast and flash. The camera is supported by a
        91 words
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        Lock icon Handy inspiration
        77 17 In 1996, Henry-Louis Vuitton was so inspired by a young lady holding a city bag and walking down the famed Champs Elysees. that he designed a new handbag called Papillon. Created in the LV monogram canvas, it had a modern roundness, a rolled, slender shape and was available
        77 words
      • Article, Illustration
        Lock icon Alltied-up
        77 17 The burst of the dotcom bubble must have been good news for men who love ties. And since it's no longer considered unhip to wear one to work, check out Dunhill's new autumn/winter selection. The range combines a series of strong visual themes with a rich but rustic colour
        77 words
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        Lock icon Footloose
        64 17 Elegant yet contemporary, this range of court shoes and sandals aren't just as good for the casual outing as they are at work. Wrapped in denim and cotton floral fabric, you get a choice of four designs. Launched three weeks ago, the court shoes cost $37 and the sandals
        64 words
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        Lock icon Events and promotions
        87 17  -  Compiled by\ MIKE CHUA, CORINNE KERK Scotts: Rhythms of Life promotion (today and next Saturday). Spend $20 and receive a free henna hand painting session, from 2pm -4pm. There are also snake charmer performances from 2pm -4pm and a traditional Indian rice art demonstration from 2pm to
        87 words
    • Article, Illustration
      Lock icon Weaving the Web of art
      724 17  -  Ry( Cheah Ui-Hoon WHILE almost every industry jumped on the dotcom bandwagon at the height of its popularity, the art community especially visual artists was slower to pick up on the digital wave a few years back. The practice of "cyber" arts took on a
      CHRIS LOH  -  724 words
  • Page 17 Advertisements
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      67 17 fci An African Od LJSSCIJ Recent Walercolor Paintings of Africa by Rupa Natarajan November 9th to 24th, 2002 at Chateau d' Arts #03-01 Stamford House 39 Stamford Road, S'pore *****5 Tel: 6338-7467 Gallery Hours: Tue-Sat 12noon to 6:oopm Sunday 1.00 to s:oopm Meet the artist and hear her talk about
      67 words
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  • What's in style
    • Article, Illustration
      Lock icon Home improvement
      1408 18  -  A walk through industry show Batimat Asia throws up innovative ideas for the home and garden such as durable titanium-zinc roofs and fake wood. GEOFFREY EU shares his findings GEOFFREY EU A TRADE show for the building industry isn't exactly the sexiest event in the world. It certainly
      1,408 words
    • Article
      Lock icon Taking it outdoors
      248 18 LANDSCAPE Asia focusing on new products and landscape ideas in an urban environment was held in conjunction with Batimat Asia and a variety of "green living spaces" and garden accessories were on display. According to Kenny Eng. business development manager for the Nyee Phoe Group, the emphasis
      248 words
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