I believe you problem has to do with the internal timezone setting on the HP server. We had a similiar problem here and had to change the GMT setting. SYBASE utilitizes this setting to report the time.
Aside Note: 4.2 SYBASE on HP 8.X UX OS has many known bugs...I would suggest testing 4.9.1 SYBASE with HP 9.X UX OS to avoid the many potential problems you will occur.