SINGAPORE NEWSPAPER HIGHLIGHTS - JAN 2, 2003.

SINGAPORE, Jan 2 Asia Pulse - Highlights of today's newspapers:

THE STRAITS TIMES:

- Despite glimmers of hope that the region will see a US-led economic recovery this year, many companies are still intent on cutting costs by lowering the class of travel for their senior executives.

- Singapore became a less expensive place in which to do business last year, an annual survey of 92 business districts worldwide has shown.

- Van der Horst (VDH), which is under judicial management, is pursuing a reverse takeover that will transform it into an oil company and help end a three-year share suspension.

- The Singapore Exchange (SGX) is seeking clarification from Tianjin Zhong Xin Pharmaceutical ...