SINGAPORE: Singapore's key exports in February increased 23

SINGAPORE: Singapore's key exports in February increased 23
percent from a year ago thanks to stronger demand for key
electronics products and pharmaceuticals, the government said
Monday.

The jump in non-oil domestic exports (NODX) -- a key barometer
of the export-dependent economy's health -- to S$7.75 billion
(US$4.43 billion) was an improvement on the revised 18.3 percent
expansion posted in January, International Enterprise Singapore
said.

But on a month-on-month seasonally adjusted basis, NODX fell
9.2 percent in February, the trade promotion agency said.

Total trade in February amounted to S$33.6 billion, up 14.6
percent from a year ago.

Electronics exports, which make up more than half of
Singapore's NODX, grew 10.3 percent in February to S$4.11 billion
as robust demand for integrated circuits (ICs) helped to offset
slumps in disk drives and personal computer-related components.
-- AFP

KL manufacturing sales up 8.4%

KUALA LUMPUR: Malaysia's manufacturing sales in January 2003
rose 8.4 percent year-on-year, official figures showed Monday.

Sales in manufacturing, the main driver of the Malaysian
economy, jumped to 25.9 billion ringgit (US$6.8 billion) from
23.9 billion ringgit in January 2002, the Statistics Department
said in a statement.

The manufacturing sector makes up a third of Malaysia's gross
domestic product.

The department said a total of 972,290 people were employed in
the manufacturing sector during January, up 1.6 percent year-on-
year and 0.2 percent higher than December.

Total paid salaries and wages of 1.6 billion ringgit was 8.1
percent higher year-on year but 3.0 percent lower month-on-month,
it added. -- AFP

RP jobless rate rises to 10.6%

MANILA: The Philippines' jobless rate rose to 10.6 percent in
January, up 0.3 percentage points from both a year earlier and
the previous quarter, the National Statistics Office said Monday.

The total workforce was 33.68 million people, up 1.8 percent
from the previous year.

Employment in agriculture rose 1.3 percent from a year earlier
to 11.1 million, while industrial employment fell by 0.8 percent
to 4.56 million and services sector jobs grew by 2.2 percent to
14.4 million.

Aside from the 3.56 million that were unemployed, some 4.85
million workers or 16.1 percent of the total were underemployed.
-- AFP

S'pore buys stake in Paris building

SINGAPORE: A unit of the Government of Singapore Investment
Corp., said Monday it has acquired a 50 percent interest in a
prime office building in Paris' central business district.

GIC Real Estate said the seller, a real estate investment fund
of the AXA Group, will keep a 50 percent interest in the
property, 6-8 Boulevard Haussmann, a nine-storey building with a
net area of 25,000 square metres.

The financial details of the deal were not disclosed.

AXA Real Estate Investment Managers has been appointed as
asset manager of the property.

The GIC manages Singapore's foreign reserves. GIC Real Estate
has a multibillion-dollar portfolio of direct and indirect
property investments worldwide. -- AFP