The Business Times, 7 December 2002

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Total Pages: 16
1 16 The Business Times
  • 16 1 THE BUSINESS TIMES weekend MfTA(P) 010/03/2002 85i SINGAPORE intomc? hrtp htis.ncr.s-tinrs asi.il corr.si? DECEMBER 7-8, 2002
    16 words
  • 531 1  -  SATURDAY SO A P B 0 X christopher tan EARLY this year, I asked Peter Leong, who was then chief financial officer of Comfort Group, whether the transport operator would exit the car distribution business something it had never quite excelled in.
    531 words
  • 784 1  -  Board transforming itself into a super e-service agency EXCLUSIVE By Teh Hooi Ling [SINGAPORE] The Central Provident Fund Board is in the midst of transforming itself into a super e-service organisation which can tell up to the minute if Singaporeans have enough funds for retirement or
    784 words
  • 646 1  -  Finance minister Shiokawa says yuan should be stronger Frorr, Anthony Rowley in loKyo JAPAN'S battle to "talk down" the yen moved into new and sensitive territory yesterday as officials hinted that the strategy is aimed at least partly at blunting China's
    646 words
  • 1060 1 Administration mum on whether they were asked to go; shakeup long speculated AP, Bloomberg, Reuters, AFP [WASHINGTON! US Treasury Secretary Paul O'Neill, whose outspokenness often landed him in hot water, announced his resignation yesterday. The shakeup of President George W Bush's economics team
    AP,; Bloomberg,; Reuters,; AFP; AP  -  1,060 words
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  • next page
    • 67 2 Singapore markets were closed yesterday for the Hari Raya holiday Friday Change KLSECOMP Closed NIKKEI 225 8,863.26 -54.31 HANG SENfi 9573.75 36.13 SET INDEX ***** +0.15 JAKARTA OOMP.CM MANILA (X)MP Closed TAIPEI WP1 4.738.98 16.42 SEOL'LCOMP ***** 467 SHENZHEN B 194.01 H 29 AUST ALL ORI) 2,990 70 13.30
      67 words
    • 71 2 FOREX RATES* us$ 8$ US$ (SS per rs$) 1.774 £(1'S$/S$per£) 1.570 1784 EUIIO(USt/SS/E). 1001 1.776 YEN 125.2 7060 KM r 3.800 2.143 H K$ 7.799 4.397 BAHT 43 76 24 67 RUPIAH 8.990 5.069 TrMsartjcm dale: Drr 5 PRIME RATES SINGAPORE* 5JS KUALA IJ'MPTR 6441 HONG KONG 5 WW
      71 words
    • 603 2 K reaches 6% in November as companies slash headcount amid weak economic recovery Bloomberg, Reuters [WASHINGTON] The US unemployment rate rose last month to 6 per cent, matching a nearly nineyear high reached in April, and companies eliminated jobs as the economic recovery
      Bloomberg,; Reuters  -  603 words
    • 980 2  -  WRITER'S JOURNAL 'First Gentleman' builds the bridges for her. But is that enough to help her fiH a vacuum? karim raslan INDONESIA'S "First Gentleman", Taufik Kiemas, is charming, street-smart, loud and larger than life. Married to Megawati Sukarnoputri for neiiAn3o years, the Sumatran-born
      FILE PHOTO  -  980 words

  • in the news
    • 607 3  -  EXCLUSIVE CPF policy change opens doors to HDB mortgage market worth billions of dollars By Siow Li Sen YOU can almost feel the frisson among bankers as they guard jealously their strategies for the week-long HDB bank fair that
      607 words
    • 443 3  -  CEO says HK market small, sees no need to buy firm there i*' Vince Chong A BIG Hong Kong purchase is no longer in Singapore Telecommunications' sights, two years after it unsuccessfully bid for Cable Wireless Hong Kong Telecom, then the Special Administrative Region's
      443 words
    • 216 3  -  He buys 2m more Nat Steel shares, raising his stake to 29.79% By Vince Chong INDONESIAN businessman Oei Hong Leong has inched closer to the mandatory takeover level of 30 per cent, raising his total stake in the steel miller to 29.79
      216 words
    • 177 3 If s sold UK unit; S'pore, Japan units close to being sold [LONDON] Banking group NM Rothschild said on Thursday it was close to selling its Singaporean and Japanese asset management businesses with assets totalling around £1 billion (Ss2.B billion). The sale follows Rothschild's decision
      177 words
    • 394 4  -  education By Vince Chong SINGAPORE'S education system has grown at an average 7 per cent annual rate between 1995 and 2000, despite the economic slowdown, and is expected to continue growing. According a Department of Statistics (DOS) report, the education industry grew from some
      394 words
    • 485 4  -  It believes the tying of work permits to approved living quarters will give a big boost to its bwhww By Vince Chong FRENCH facility management giant Sodexho sees growth in its multi-billion dollar business once a Ministry of Manpower (MOM) ruling on work
      485 words
    • 521 4  -  By Patrick Peck The author is the vice-president for the Paris-based JCF Group AFTER last week's all-time high of 81 opinion changes, the trend weakened to just 28 changes this week, comprising 22 upgrades and six downgrades. Health tonics and supplements company Cerebos Pacific
      521 words
    • 64 4 MORE than 10,000 fairy lights have been used to create this sparkling chandelier (left) that greets visitors and guests of the Hotel Phoenix. While these may not be the best of times for the retail industry in Singapore, some shopping centres and hotels are determined to
      CHRIS LOH  -  64 words
    • 352 10 Survey of banks finds many flaunting lending rules, says People's Bank of China neuters [BEIJING] China's central bank has issued another warning on the heated property sector, urging commercial banks to stop recklessly handing over cash to home buyers and real estate developers. A survey
      neuters; REUTERS  -  352 words
    • 345 10 Reuters [WARRNAMBOOL, Australia] Unable to raise interest rates as drought cuts economic growth and global economies struggle, Australia's central bank head admitted yesterday he was resorting to "moral suasion" to try to cool the booming housing sector. Reserve Bank of Australia (RBA)
      Reuters  -  345 words
    • 221 10 AP (JAKARTA] Indonesia's national police chief said yesterday that bombs caused explosions at a McDonald's restaurant and a car dealership the day before, and his office was determining whether the blasts were linked to the Bali attacks. Police have detained 15 people for questioning,
      AP  -  221 words
    • 1044 10 The country s talent pool and low wages are attracting investments from software companies Bloomberg [BANGALORE] Texas Instruments Inc engineer Biswadip Mitra kept right on chatting as the lights flicked off three times during a 40minute conversation in his office, leaving him bathed
      Bloomberg  -  1,044 words
    • 459 10 This will put it ahead of Disney, which has similar plans Reuters, Bloomberg [SHANGHAI) Entertainment giant Vivendi Universal SA will sign an agreement today with a number of Shanghai companies to build a theme park in the city, a government official said
      Reuters,; Bloomberg  -  459 words
    • 265 10 AP [WASHINGTON] The International Monetary Fund approved a US$365 million loan for Indonesia and urged the country to go further with reforms to combat the corruption that has affected foreign investment. The IMF's 24-member executive board vWH&y.pn Thursday that Indonesia had made progress in
      AP  -  265 words
    • 239 10 Bloomberg [HONG KONG) Hong Kong Exchanges Clearing Ltd (HKEx), which runs the city's financial markets, will scrap staff bonuses this year and freeze wages in 2003 after a slump in the stock market trimmed the exchange's income. The move is "in line
      Bloomberg  -  239 words
    • 477 11 Former vice-chairman and president Jim Cantalupo to succeed Jack Greenberg when latter leaves at year's end [NEW YORK] McDonald's Corp chief executive Jack Greenberg on Thursday abruptly said he would retire, as the company that pioneered fast food struggled to cope with falling profit in a
      477 words
    • 157 11 Reuters [TOKYO] McDonald's Japan slashed its group net profit forecast for the year by 91.4 per cent to 530 million yen (557.5 million) and cut back on planned restaurant openings after price cuts failed to produce a turnaround. The move announced yesterday comes after price cuts
      Reuters  -  157 words
    • 323 11 Bloomberg [HONG KONG] Cheung Kong (Holdings) Ltd and New World Development Co lured 12,000 prospective buyers the second-largest response this year to a housing project on Hong Kong island priced 25 per cent lower than the market. The developers are offering about
      Bloomberg  -  323 words
    • 563 11 Bush mulling options; plan may be ready as soon as before Christmas Bloomberg [WASHINGTON] Senior aides to President George W Bush recommended legislation to cut taxes on corporate dividend payments at a briefing last week on proposals to stimulate the economy. Mr
      Bloomberg  -  563 words
    • 54 11 tZniir!awll another elderly man died of a heart attack while trying to save his horses from the fires on Thursday Firefighters were rnnit?J!Zf£th UP I res ldents to save a row of houses as the same fires three of the worst of 79 raging around
      AP  -  54 words
    • 311 11 AFP [TOKYO] Japan's tightlyguarded system of lifetime employment has come under a threat from the swelling ranks of workers being supplied by special agents on temporary contracts. The labour ministry on Thursday proposed the easing of restrictions on "worker dispatching services" which have
      AFP  -  311 words
    • 225 11 AP [KAOHSIUNG, Taiwan] President Chen Shui-bian said yesterday that if Taiwan drops a five-decade ban on direct flights with rival China, he would first open the airport in the southern city of Kaohsiung to air traffic with the mainland. The president's comment was
      AP  -  225 words
    • 409 11 US due to issue annual assessment on Wed Reuters [WASHINGTON] The United States is expected to give China a mixed grade on its progress in opening its markets to more foreign goods since joining the World Trade Organization a year ago, US industry
      Reuters  -  409 words
    • 569 12 Agncole raises stake to 12.17 per cent in a bid to thwart an aggressive grab for control by BNP Paribas Reuters [PARIS] A battle for control of French bank Credit Lyonnais intensified yesterday as Credit Agricole bought up shares of its long-time takeover target
      Reuters  -  569 words
    • 372 12 Reuters Bloomberg [NEW YORK] Speculation that Wall Street firms could face fines totalling US$5OO million to US$2 billion to settle investigations of stock research abuses are not "out of bounds", New York Stock Exchange (NYSE) chairman Richard Grasso said
      Reuters; Bloomberg  -  372 words
    • WORLD WATCH
      • 61 12 Reuters [BRUSSELS] The European Union and China signed a treaty yesterday to cooperate on a range of shipping matters from ensuring fair access to each others' ports to working to combat terrorism and piracy. The 15 EU states and China control almost 40 per
        Reuters  -  61 words
      • 73 12 Bloomberg [ARMONK, New York] International Business Machines Corp, the world's largest computer maker, agreed to buy Rational Software Corp for about US$2.l billion in cash to add software-building programs to its product line. IBM is paying US$lO.5O a share for Rational, 29 per
        Bloomberg  -  73 words
      • 95 12 Reuters, AFP [WASHINGTON] Osama bin Laden's al Qaeda network plans to launch suicide attacks against Israel, according to a website {http://www. mojahedoon.net) that US officials believe speaks for the organisation, the Washington Post reported yesterday. Israeli Prime Minister Ariel Sharon said on
        Reuters,; AFP  -  95 words
      • 93 12 Reuters [BOSTON] US federal agents have raided a Boston-area software firm amid reports the company has links to al Qaeda, a spokesman for the US Customs Service said yesterday. ABC News reported earlier yesterday that the privately held firm, PTech Inc, was allegedly controlled
        Reuters  -  93 words
      • 90 12 AFP [TOKYO] Japan's financial watchdog said yesterday it will suspend the Tokyo securities operations of BNP Paribas for two weeks after finding ithad manipulated share prices. The Financial Services Agency (FSA) said BNP Paribas Securities (Japan) Ltd has been told to stop trading stocks
        AFP  -  90 words
      • 127 12 AP [MIAMI] A second body was found yesterday across the street from the site of the crash of a small plane that plowed into the building housing the Miami Federal Reserve Bank. The prototype Four Winds 192 crashed Thursday night on the northeast
        AP  -  127 words
      • 38 12 Bloomberg [FRANKFURT] Deutsche Bank AG is restricting travel, prohibiting office relocation moves and banning the use of new consulting agencies in a bid to squeeze out cost savings as investment-banking revenue drops. Bloomberg
        Bloomberg  -  38 words
    • 231 12 Reuters [TOKYO] Japan has spent more than 36 trillion yen (Ssslo billion) in public funds to help clean up failed banks or strengthen weak ones over the past four years, according to official data obtained by Reuters yesterday. Since the 1997/98 financial
      Reuters  -  231 words
    • 362 12 Bloomberg [NEW YORK] Emergency workers continued to work to restore power to more than one million customers after a snow and ice storm hit the eastern US, downing power lines, causing traffic accidents and deaths. At least 22 deaths were attributed to the storm,
      Bloomberg; REUTERS  -  362 words
    • Plan to build wireless Internet network
    • 566 12 NYT [NEW YORK] Everyone expects corporate profits to plunge if a new international accounting rule forces companies to report as an expense the value of the stock options they grant. But a little-noticed provision of the same rule could produce the
      NYT  -  566 words
    • 456 12 Only question is when or whether they get uncovered AP Dow Jones Newswires, AP [NEW YORK] Many in the US accounting industry are concerned that the list of corporate scandals could get longer. Specialists in uncovering corporate irregularities believe there are many companies that have
      AP; Dow Jones Newswires, AP  -  456 words
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  • 3742 4 Transaction date: Dec 6 HONGKONG 3530 china /br more, go to wwwastiimienmarketsjcom 5® EJ^Z.-.Z!JOXO 010 2095 pl£ w- JS cS*£hComputer1-5 4 _T.U 0X3 ?*Z K^^Icorporabon mo 90 4K aZStakSTit o 50 1742 ,ndoM *****0 ISO 00 5499 *SE5ETs; 0.02 ***** 3S 3 S 0.01 JS EESTzzzzzzziS Jg ,12
    3,742 words

  • in focus
    • 1370 5  -  SCV, which rolled out its cable network 7 years ago, has yet to turn in a profit So what will the second licensee have to do to be viable? AUDREY TAN looks at the issues AUDREY TAN SINGAPORE'S plan to award a second
      FILE PHOTO; Source: MPA/CASBAA C&S Guide 2002; Source: Taylor Nelson Sofnes  -  1,370 words
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    • 203 5 BHH In The Matter of The Compontti Act (Chapter 50) And in Itw MuWn of NATURE'S BEST PTE LTD (Incorporated In The Republic oI Singapore) (In Creditor?' Voluntary liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Ad, Cap 50, the Final
      203 words
    • 23 5 l&frtytk I |J Lianhe Zaobao I Foreign I I currency I I deposit I I attractive I I I 11 wH u HB
      23 words

  • financial planning
    • 1160 6  -  Planning for financial independence in turbulent times calls for vigilance, preparation, and strategy. TEH HOOI ling highlights some salient points TEH HOOI LING FINANCIAL planning during a period of high uncertainty poses tricky challenges. How can we deal with them? There is little doubt that we
      FILE PHOTO  -  1,160 words
    • 722 7  -  By Teh Hooi Ling PARTLY because they do not understand it, many people are not using the Supplementary Retirement Scheme (SRS) for their retirement planning, says Anne Tay, vice president, retirement security marketing for bancassurance, OCBC Bank. However, all tax-paying residents should
      FILE PHOTO  -  722 words
    • 825 7  -  Financial planning is about establishing your needs, setting your goals and putting in place a strategy to achieve them, reports TEH HOOI LING TEH HOOI LING ONE should adopt a holistic approach to financial planning, said Elsie Foh, president of Financial Planning Association of Singapore
      825 words
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    • 148 6 BfeHdRfei s v J u^ is his first day at work. J Planning for financial security in old ag© isn't only for those nearing retirement. In fact, it's important that you begin planning early, as early as the day you begin work. The earlier you start, the more time you'll
      148 words

  • Page 7 Advertisements
    • 193 7 Planning ahead W Lee s 'P° rean earns $5,800 a month ($69,600 per annum) and gets 2 months'bonus (i.e. $11,600). He contributes $12,180 (the maximum SRS contribution) to his SRS account Without contribution to SRS With contribution to SRS Salar V 69,600 Salary 69,600 Bonus 11,600 Bonus tV6OO Total income
      193 words
    • 74 7 Your Personal Fund Manager Phillip Managed Accounts are individual fund management accounts. The Phillip Managed Accounts' Advantages: Low investment of $25,000 Low management fees No front-load fees Experienced fund managers Focused portfolio Absolute returns* Return-'- Me nc* guaranteed wxJ investments ara s» tt>fo< to isks Contact your Dealer or Financial
      74 words

  • in the money
    • 1105 8 MONEY TAL K With the rising cost of living and ever-increasing aspirations, a comfortable retirement requires careful planning, and the eariier, the better THE Golden years, as they are often referred to, may not glitter unless we plan for it. After a lifetime
      FILE PHOTO  -  1,105 words
  • 1585 8 /or week beginning Dec 2 Nat Mr* EPS t>ata TY IY TY IY flap iii| M M w Amtaktngg 27-Nov Q*****9 6.515 SJ6 3.5* AP8 Breweries 15-Nov P ***** 95.209 33 50 3740 ASJHIdgi 28-Nov 03 4 944 4 889 3.55 340 Avaptas 21-Nov I 2.003
    1,585 words
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    • 43 8 Brought to you by: Odbsbank iSM-^liiii^iiifctigiMiißX*j^Til^W• Vm»Tr?Tii3* ■Jll j 9 m iL mm wVBHr VHft fll Ps^"" r tBrm co™**™ For more tnforma- M ft DBS BANK *< a>**? "n™B i SP^Please vWt www.makltv9s.hlhon.com PHz vaW frWTI Hay I to July 15 03 mm
      43 words

  • motoring
    • Article, Illustration
      855 9  -  In August we brought you an early test-drive of Saab's new 9-3, filed from Stockholm. CHRISTOPHER TAN now takes the car to Kuala Lumpur and back, family in tow, for an experience closer to home CHRISTOPHER TAN TO say that the 9-3 is the most interesting Saab I've driven
      855 words
    • 381 9  -  A slew of new VW models will come on from January, ending a long absence of new products By Christopher Tan VOLKSWAGEN is expected to launch up to half a dozen new products here in the next 18 months, ending a dry spell this year.
      381 words
    • 656 9  -  Compiled by Christopher Tan 7-11 conveniently turns to Toyota to expand JAPAN'S top convenience store group Seven-Eleven Japan has formed an alliance with Toyota Motor to build new outlets in areas near the car maker's headquarters in Nagoya. Reuters reported that the chain has aggressively expanded and
      656 words


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    • 278 11 fPNUS Kfflg Xj/sb>J Natlonal University IX)NDON of Singapore MnraftytfLmfci MASTER OF SCIENCE (CONSTRUCTION LAW ARBITRATION) Ist Intake 2003-2004 The M.Sc.(Construction Law Arbitration) programme is jointly offered by the National University of Singapore (NUS) and King s College London. This is the first international Master's level teaching programme in construction law
      278 words


  • style food/travel
    • Article, Illustration
      962 13  -  Johor's best resorts have something for everyone, from golf to riding to spa treatments. VEN SREENIVASAN finds out VEN SREENIVASAN IF the recent news of terrorist threats, travel warnings and four-hour check-ins at airports have forced you to have second thoughts about dragging your family on that
      FILE PHOTOS  -  962 words
    • 795 13  -  TRAVELLING LIGHT vijay verghese AN airport where YOU are encouraged to check-in a half-hour or even 15 minutes before an international flight should win every possible accolade. Problem was, I couldn't find it. The 'international' terminal turned out to be a shack, its
      795 words
  • Page 13 Advertisements
    • 1087 13 wine&dine with weekendßT Blue Lobster Himalayan Kitchen Mariners Com*, ÜBl 49/50 TrasStreet. *01-01. TeL *****117 J* Cantonment Road. *01*. fSSSSLdI 4 7Raffles Boulevard Savour fresh Tasmanian oysters at $1 every Wednesday a^NortMrld^ 3^^"^^^ 6 f Nepa,ese Tlbetan Maritime House Tel 6224 9928 Marina Square. 7******788 during "Oyster Nite". Happy Hour
      1,087 words

  • shopping
    • 1122 14  -  While foreigners may rule at the major French houses from Dior to Vuitton, a local designer has been charged with bringing the comatose Guy Laroche back to life. CAT ONG meets Laetitia Hecht CAT ONG FRANCE may be thought of as the epicentre of ul-tra-chic feminine fashion.
      1,122 words
    • 528 14  -  4 Jaime Ee IT'S touted as Singapore's answer to Shinjuku or Harajuku. It is and it isn't. 'Isn't' because you don't find Yakun kaya toast anywhere in Tokyo, and 'Is' because the range of shops in Far East Plaza's new Level One exudes a
      FILE PHOTO  -  528 words
    • Article, Illustration
      627 14 What's new in the stores Sporting time Omega watch enthusiasts would know by now that its latest Chronograph timepieces are on the shelves if not on their wrists already. But it may still be news that the watchmaker has just unveiled the America's Cup Chronograph and America's Cup
      627 words

  • style art
    • 704 15  -  PARVATHINAYAR steps into Simon James's world of fluid video based on the Singapore River PARVATHI NAYAR The fluidity, eternal motion and wonderfully reflective surfaces of water are qualities that have inspired artists through the centuries. Whether Turner's atmospheric evocations, Monet's play of light on water, or
      704 words
    • 549 15  -  By Cheah Ui-Hoon ONE wouldn't think twice when admiring the portrait of the late Princess Diana, the world's most photographed woman and member of the British Royal Family. You'd even appreciate the portrait of Winston Churchill, and possibly be drawn into Oscar Wilde's pensive look, without trying to
      549 words
    • Article, Illustration
      613 15  -  a weekly roundup of events Compiled by CHEAH UI-HOON Get in the spirit IN the event that you've become rather jaded with th< Santa Clauses and inflatable reindeer in every nook and cranny of town, there's respite in artist Peter Wenman's works which employs Buddhist symbolism. Painting on canvas,
      613 words
    • 615 15 Reuters [NEW YORKJ In the mid 1800s, a small pastry shop known as Delmonico's grew into a fancy dining establishment catering to New York's upper crust, becoming the city's and the country's first real restaurant. The Big Apple's obsession with going out to
      Reuters; REUTERS  -  615 words
  • Page 15 Miscellaneous
    • 340 15 iihirnC CROSSWORD 1 Menaces the star composer 5 ypr^ eedin 9 safterset s —VI 10 High-flying personnel H H fljj H Hi fli HI blasted after broadcast 11 11 Monosyllabic word meaning IH "interim"? (5-4) ___fIH___Hi H 12 American and I leave Span- 13 I I lie I ish friend
      340 words

  • what's in style
    • 865 16  -  So much has been written about the struggling retail scene, you'd think that industry players have more to worry about than make-overs. But retailers who are clued in to what shoppers want are taking the opportunity to revamp their stores, or transform themselves with interesting new concepts. CORINNE
      ARTHUR LEE  -  865 words
    • 634 16 WHAT in the world, you wonder, are the latest designs of Adidas and Nike shoes doing in an upmarket boutique like The Link? They are there, because the new multi-label boutique for men and women at The Mandarin Shopping Arcade is determined to become a lifestyle store
      634 words
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