The Business Times, 7 October 1995

Total Pages: 24
1 24 The Business Times
  • 13 1 Business Times MITA(P) 194/12/94 Weekend Edition, Oct 7-8 1995 JALE KNOW ASIA 85*
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  • 554 1  -  From Catherine Ong SINGAPORE Telecom International (STI), the overseas investment arm of the Singapore Telecom, expects to see at least eight of its foreign ventures making money next year. In an interview with Business Times in Geneva, chief operating officer Allen
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  • 155 1 Friday Chaage STII .2,142.0 -1.56 KLSEComp 983.81 -1.81 Nikkei 18,506.28 +285.87 HangSeng 9,873.90 -14.14 SET Index 1,327.44 +12.63 Jakarta Comp 496.29 +1.28 Manila Comp 2,640.77 +22.54 Taipei WPI 5,213.73 +113.26 Seoul Comp 1,002.07 +13.02 Bombay BSE30 ...3.603.55 +40.74 CLSA China B 830.79 -2.58 Aust All Ord 2,098.2 -4.5
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  • 476 1  -  Property figures may be off the mark but they serve a purpose, says Lee Han Shih Lee Han Shih THE Urban Redevelopment Authority (URA) has said it will not interfere with property prices. But, inevitably, its regular reports on the future supply of properties have
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  • 330 1  -  Corruption charges expected to be brought against him Bye Conrad Raj, Chuang Peck Ming SINGAPORE Suspended Public Utilities Board senior official Choy Hon Tim yesterday surrendered himself to the authorities after disappearing for two months amid a corruption probe involving him. Lawyer Lim
    330 words
  • 227 1 Bloomberg Business News WASHINGTON President Bill Clinton ordered government firms to issue annual reports on what they pay senior executives, and asked for limits to bonuses paid to them. The order, signed on Thursday, applies to organisations wholly
    Bloomberg Business News  -  227 words
  • 84 1 Reuter NEW YORK Wall Street stocks rose modestly yesterday, with the Dow index getting a boost from Aluminum Co of America, which posted sharply higher quarterly profits. The Dow Jones Industrial Average was up 11.92 points at 4,774.63 at 2 pm EDT. In the broader market
    Reuter  -  84 words
  • Page 1 Advertisements
    • 109 1 ~i iSSS^^^K^^L. j Lffi <h. IBa A{hh[|^^^^^| Photo by Arthur Lee This must b€ an IPO line: This scene at yesterday's Investment Fair '95 would have made an IPO underwriter very happy, except that the crowd was not there to collect prospectuses or apply for shares. What the 1,000-odd people
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    • 10 1 Singapore Turf Club: el i The race for corporate monev
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    • 32 1 Equities: el s There's juice left in electronics Telecom revamps top structure of overseas investment arm, Pg 5 BT Online Look as ap at http:// www.asial.com.sg/biztimes Tel 1800-*****77 Fax *****18 Fax *****71
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    • 208 1 Hock Lock Siew: pg s Renong's Gelang Patah factor Corporate Profile: el 2 Gokongwei of J G Summit Ifr' e." y I JH l~ r HBl I |H iK H B HI K XaS9 -M a I I 4, Y. 'uSf m-U W *m E j II i SUCCESS A
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  • SINGAPORE NEWS
    • 356 2  -  Details still being ironed out Abdul Hadhi THE Government will sell land related to the building of an underground shopping mall in the first half of next year, sources said yesterday. BT understands that details vfrere still being ironed
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    • 557 2  -  Smart card system will have Nets link and allow shopping transactions Christopher Tan A FOUR-PARTY consortium led by Philips Singapore clinched the Electronic Road Pricing (ERP) System contract yesterday. It will build the system for $197 million and maintain it for five years for another
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    • 284 2 THE Torie group has clinched two adjoining freehold apartment sites in Shanghai Road, off River Valley Road, for $405 per sq ft per plot ratio a keen price which analysts say reflects current market sentiment. Tone chairman Eric Tan told BT
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    • 190 2 THE Government plans to eventually regulate the practice of traditional Chinese medicine (TCM) in Singapore. But this will only happen when the Ministry of Health is ready for it, Health Minister George Yeo said in a letter accepting the Report of the Committee
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    • 288 2  -  Bjr< Chan Siew Ling THE Government ought to give tax incentives to advertising agencies in Singapore, said advertising award winner lan Batey last night. The chairman of the Batey Group added that the government should give the industry the same
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    • 462 2  -  The Nick Leeson case Fran Neil Behrmann in LONDON THE British Serious Fraud Office (SFO) is closing the last loophole which could have allowed Nick Leeson to be extradited to the UK. Now that there will be no counter extradition order to the
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    • 323 2  -  3 Conrad Raj THE MAN whdgave the Commercial Affairs Department (CAD) a headache with his alleged derivatives deception has hired a former CAD officer to advise him. "I have been appointed by Nick Leeson to advise him on Singapore law," former CAD
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  • Page 2 Advertisements
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  • Page 2 Miscellaneous
    • 245 2 1 Subpoenaed despite being ——LJ ""MB" ■H"""' commended for courage (5) 4 Confirms that the bulls are b J j 8 Spanish port I'm unable to J lO I 'j| put into beer (8) tery recurrently (8) '""■B -11 Flattened yobbo without assistance (4,3) 13 Ambassador without guile, but without
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  • THE REGION
    • 547 3 AFP JAKARTA Indonesia's economy could face long-term overheating problems due to rapid economic growth, including a potential blow-out in the current account deficit, inflationary pressures and greater currency volatility, economists said here. This week's apparently favourable trade surplus and inflation figures should
      AFP  -  547 words
    • 382 3 Survey says economy should achieve soft landing this year Reuter BEIJING The growth of China's gross domestic product (GDP) is expected to slow to 9.4 per cent in 1996, from a forecast of 10.2 per cent this year and from
      Reuter  -  382 words
    • 243 3 Reuter HONGKONG Industry analysts yesterday welcomed China's plan to loosen its grip on the oil industry through tax revisions and removal of price ceilings after over one-and-a-half years of stringent centralisation. But some said it was only a small beginning. "It
      Reuter  -  243 words
    • NOTE BOOK
      • 81 3 Bloomberg Business News MANILA The Department of Energy pushed back the target date for the deregulation of the Philippine oil industry to June 1997 because it expects that changing the tax structure will be difficult. The latest change in the timetable was a reversal of the
        Bloomberg Business News  -  81 words
      • 84 3 Bloomberg Business News TAIPEI Texas Instruments Inc chairman Jerry Junkins said yesterday semiconductor sales in Asia this year could climb by as much as 50 per cent. That would surpass projected world semiconductor industry growth in 1995 of more than 35 percent, he
        Bloomberg Business News  -  84 words
      • 49 3 AFP BEIJING Mickey Mouse greeting a group of excited Chinese children on Thursday at a hotel here. Disney's most famous character was on hand to promote the US$6 million (SSB.6 million) 'Walt Disney's World on Ice' show, which opened in the Chinese capital yesterday. AFP
        AFP  -  49 words
    • 141 3 Reuter KUALA LUMPUR Malaysian Prime Minister Mahathir Mohamad denied stock market talk yesterday that he had a rift with his deputy, Anwar Ibrahim, saying the two of them got along better than some European leaders and their deputies. "He's my pal. We
      Reuter  -  141 words
    • 302 3 AFP BOMBAY European aircraft consortium Airbus Industrie said yesterday that it was keen to have Asian partners in a project for a new aircraft. Its president, Jean Pierson, said: "Our project envisages a passenger capacity of between 600 and 800 and
      AFP  -  302 words
  • Page 3 Advertisements
    • 83 3 E PRINCES RIVERSIDE LONDON SEI6 sh new apartments on the Thames Unique investment opportunity just 2 miles from the City ll uuh nmmhmu P.KU- EXHIBITION Saturday 7th October and Sunday Bth October, I lain to 7pm 1 iilton International I lotcl, Singapore Room, sth Moor, 58 1 Orchard Road, Singapore
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  • REGION/WORLD
    • 464 4  -  Anthony Rowley in WASHINGTON WEALTHIER East Asian countries including Singapore and Malaysia are expected to be invited to contribute to helping the International Monetary Fund cope with future Mexico-type crises under a proposal scheduled to be adopted tomorrow
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    • 370 4 Reuter, Bloomberg Business News WASHINGTON Policymakers from rich industrial nations are expected to declare today that the crisis-prone world economy is on the mend and to promise that they will take further action to make sure it stays that way.
      Reuter,; Bloomberg Business News  -  370 words
    • 1380 4 AIRCRAFT ARRIVALS DEPARTURES Mim Qf081 1930 Qf082 2QS5 *—I RJ187 0130 MMmi KL843 0555 GA896 0130 SQ025 0650 KL838 2335 KL&31 1025 SQ026 2355 MM NZ021 1736 NZ022 1920 SQ2S6 2040 B Sari M 8*421 1105 SQ182 0915 SQ181 1410 BU22 1210 «427 1720 BU28 1820 Mf MZ906 1405 MZ907
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    • 58 4 Reuter LONDON Harrods owner Mohamed Al-Fayed samples a dessert from a charity cookbook which was launched in the store on Thursday. Royalties from Recipes for Peace will be used to help children in Northern Ireland promote peace and understanding. Recipes for the cookbook were sent
      Reuter  -  58 words
    • 204 4 Reuter FRANKFURT Central banks are concerned that the use of cyber-bucks the virtual reality "currency" exchanged by Internet users carries immense potential risks, Bundesbank board member Wendelin Hartmann said yesterday. The system is open to abuses such as manipulation by computer hackers and could
      Reuter  -  204 words
    • 98 4 Bloomberg Business News WASHINGTON Inventories piled up at US wholesalers for the 14th consecutive month in August, suggesting weak demand from businesses, Commerce Department figures showed yesterday. Wholesale inventories increased an unexpected 0.4 per cent during the month after rising by 1.3 per
      Bloomberg Business News  -  98 words
    • 128 4 Bloomberg Business News, Reuter LONDON UK construction company Trafalgar House pic said it will sell the Ritz Hotel in London to Ellerman Investments Ltd for £75 million (*****.3 million) in cash. The sale, £15 million more than book value, is expected to
      Bloomberg Business News,; Reuter  -  128 words
    • 407 4 Reuter HONGKONG A senior US official said yesterday Washington expects the US trade deficit with China to reach US$3B billion (SSS4.4 billion) in 1995 and US$45-US$5O billion in 1996. "Just to be candid, our side of the bilateral relationship is
      Reuter  -  407 words
    • 348 4 Reuter TOKYO A senior US trade official yesterday rejected Japan's plea that farm trade be given special treatment in a broad plan to liberalise AsiaPacific trade and said no sectors, however sensitive, should be exempted. "Every single one of
      Reuter  -  348 words
    • 133 4 Bloomberg Business News PRETORIA The Supreme Court has ruled against McDonald's Corp in a trademark dispute. The ruling by Judge BR Southwood invalidates McDonald's right to use its trademark in South Africa. The company has applied to re-register the trademark. Owen
      Bloomberg Business News  -  133 words
    • 538 4  -  Accord on renegotiation of project comes after weeks of dithering From Prem Shankar Jha in NEW DELHI THE Maharashtra state government's decision to renegotiate the US$2.B billion (Ss4 billion) Enron power project that it scrapped just nine weeks ago comes after a long struggle
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  • COMPANIES & MARKETS
    • 453 5  -  By Genevieve Cua SINGAPORE Singapore Telecom has revamped the top-management structure of its overseas investment arm, Singapore Telecom International (STI), in a determined effort to make sure its projects turn in a profit. The revamp, effective Oct 1, comes about two months
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    • 412 5  -  Teh Hooi Ling in SUZHOU SINGAPORE Telecom announced yesterday that it had formed a joint-venture company to build a US$lB million (Ss2s million) GSM mobile cellular network in Suzhou, Jiangsu province. It was also one of the four international companies shortlisted
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    • 334 5  -  By Shiv Taneja SINGAPORE Investment fairs gave listed companies a chance to reach out to the general public, chairman of the Stock Exchange of Singapore Chua Kim Yeow said yesterday. Giving the opening address at Investment Fair '95 at the Singapore International Convention
      Photo by Arthur Lee  -  334 words
    • 640 5  -  HOCK LOCK SIEW By Ruth Wong KUALA LUMPUR Diversified Renong Bhd did not use to attract a good following. That's because investors preferred to buy directly into the conglomerate's quoted associates instead of putting their money in the holding giant with its share capital of M
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    • 351 5  -  By Rahita Elias SINGAPORE Sembawang Corp has sprouted a fifth arm called Sembawang Ventures an umbrella for new businesses. SembCorp said yesterday that Chan Wing Leong, its chief financial officer since Oct 1, had also become president of SembV, which
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    • 241 5 SINGAPORE Straits Steamship Land (SSL) is joining forces with an Indonesian party to develop a retail and commercial complex that will initially cost US$6O million (SSBS.9 million). A joint venture agreement for the project with PT Pusindotrida will be signed today. The Indonesian
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    • 393 5  -  Letter to the Editor Lim Joke Mui (Mrs) General manager Corporate Services DBS Land Wc refer to the Business Times article, 'Time for DBS Land to sell off Clarke Quay?*', in the Hock Lock Siew column on Thursday. The
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    • 20 5 For next week s expected market sentiment, see BT's Sentiment Index on EL4 (Personal Finance <t Investment section)
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    • Article, Illustration
      109 5  -  -By Shiv Taneja DBS Land, which closed yesterday at $4.32, can be expected to rise another six to eight cents in the near term on buy signals from the daily and weekly RSI charts. Longer term, a lot will depend on whether volume which has been declining in
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    • 330 5  -  By Ven Sreenivasan SINGAPORE The shares of retread specialist Stamford Tyres hit a year-high yesterday on speculation that the firm is a takeover target. Brokers said the market was alive with rumours that an Indonesian party was accumulating Stamford shares. One analyst
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    • 148 5 SINGAPORE As expected, Showpla Asia put up a strong showing on its maiden day in the stock market yesterday, ending at 50.5 US cents, or 44 per cent above its issue price. The counter, issued at 35 US cents, saw a heavy
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    • COMPANIES
      • COMPANY BRIEFS
        • 58 6 SINGAPORE Intraco has formed a 65-35 joint venture company called IntraCable with Cables Cortaillod of Switzerland. The new company has an authorised share capital of $3 million and an issued and paid-up share capital of $500,000. Cables Cortaillod develops, manufactures and installs high voltage power
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        • 93 6 SINGAPORE Jurong Engineering Ltd yesterday announced the formation of two wholly-owned subsidiaries, PT Jurong Engineering (PT JE) in Indonesia and JEL Investment in Singapore. PT JE, with an initial capital of US$2 million (552.86 million), will help consolidate and supplement the parent's existing activities in
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        • 50 6 SINGAPORE San Teh director Kao Shin Ping sold 2 million shares at $1.13 each on Thursday. As a result, his holding in the company fell to 74.2 million shares representing 38.1 per cent. San Teh fell four cents to $1.13 yesterday with 299,000 units done.
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        • 41 6 Bloomberg Business News LONDON Eurotunnel, which built and operates the Channel Tunnel, reported a larger-than-expected first-half net loss of £464.5 million (551.04 billion). The first-half net loss a year earlier was £386.9 million. Bloomberg Business News
          Bloomberg Business News  -  41 words
      • 255 6 SINGAPORE Packaging group CarnaudMetalbox Asia's restructuring exercise will result in the retrenchment of 100 employees and a onetime charge of $1.8 million. CMB Asia said yesterday the $1.8 million was already accounted for in its forecast of a group
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      • 329 6  -  From Ho Kay Tat in KUALA LUMPUR CLOB-listed Malaysian firm Sateras Resources is buying Hongkong-based WTC Investments for US$2OO million (Ss2B6 million). WTC has substantial interests in China, ranging from property development to cement manufacturing, and has a 24.9 per cent stake in
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      • 388 6 LIANG Court had sold 85 per cent of its 139-unit Harbour Lights project by yesterday the day of its soft launch. The Telok Blangah apartments were marketed at an after-discount average of $850 per sq ft, a price analysts see as reasonable for the
        Photo by Arthur Lee  -  388 words
      • 219 6 KUALA LUMPUR PSC Industries Bhd and Perusahaan Sadur Timah Malaysia Bhd (Perstima) yesterday confirmed that the consortium they are leading has been given the green light to take over the Lumut naval dockyard from the government. The companies said separately that the Economic Planning
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      • 635 6 ■Mpn'prtMW Oct7 4 9 Morgan QrauM lav Hgt Slanmyf IUI Tnd MG Spore Premier T! 0.91 0.96ad® Ti 163 M Pran CT T 0 93 0 9 The Savings Fund I 49 151 Qbcorp III HI till >■( Bank S Sec*Fund < 0 90 °0 95* C-1 Gk > Bood
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      • 313 6  -  From Quak Hiang Whai in HONGKONG THE Hongkong Securities and Futures Commission has sealed preliminary cooperation agreements with two American market regulators a move that is likely to boost the integrity of the territory's securities and futures industry. The American regulators
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      • 152 6 SINGAPORE Interest among Singapore retail investors in the Jardine stable of companies should grow in time, company executives said yesterday at a briefing on the interim results of Jardine Matheson and Jardine Strategic. "It takes time to build up a retail following in
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      • 356 6 Bloomberg Business News BANGKOK Phatra Thanakit pic and Goldman Sachs Co are close to forming an alliance that would link their equity trading and research divisions, an executive at Phatra said. "We've talked to a number of firms, and it looks like Goldman
        Bloomberg Business News  -  356 words
      • 319 6 Bloomberg Business News HONGKONG Gordon Wu may soon be forced to visit the pawnshop. After spending US$722 million (551.02 billion) more than planned on a southern China highway project, Hopewell Holdings, which the Hongkong tycoon manages, may list four power plants
        Bloomberg Business News  -  319 words
    • FINANCE & COMMODITIES
      • 508 8 MBT KUALA LUMPUR Several applicants who were unsuccessful in securing a seat on the Kuala Lumpur Options and Financial Futures Exchange (Kloffe) earlier have been offered the opportunity to buy these coveted memberships. Four separate sources, who were earlier interested in applying for
        MBT  -  508 words
      • 397 8 Daiwa Bank scandal Bloomberg Business News LONDON Daiwa Bank Ltd postponed a US$l5 million (Ss2l million) floating rate note for which investors were due to pay on Oct 11, said an official at Merrill Lynch International which was manager of the bond sale. The 10-year
        Bloomberg Business News  -  397 words
      • 91 8 Bloomberg Business News TOKYO Japan's Vice-Finance Minister Kyosuke Shinozawa said there were "no procedural problems" in the way Daiwa Bank sold preferred shares immediately after learning of a US$l.l billion (551.57 billion) loss incurred by a bond trader at its New York branch, the
        Bloomberg Business News  -  91 words
      • 409 8 -•> a DBS Bank weekly currency review"' US$/mark THE greenback saw gains to 1.4440 by Wednesday before selling resumed to bring the unit down to a low of 1.4180 on Thursday. The short-term view remains bearish, with support seen at 1.4135, at 1.4050 and then
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      • 318 8 SCMP SHANGHAI Foreign banks will lose their preferential tax treatment gradually over the next few years as China paves the way for them to conduct business in domestic currency, according to a senior government official. Bankers said a removal of the
        SCMP  -  318 words
      • 378 8  -  By Conrad Raj SINGAPORE Response to a syndicated revolving credit facility for Thailand's GS Capital Corp was so overwhelming that it had to be more than doubled from US$45 million (5564.4 million) to US$lOO million. The subscription response was in excess of US$l25
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      • 197 8 Reuter LONDON The dollar was lower, reflecting speculation that a US employment report later yesterday and a weekend Group of Seven (G-7) meeting may not provide the fuel to put the dollar back on its recovery track, dealers said. A sharp drop in the ECU has translated into mark
        Reuter  -  197 words
      • 334 8 Reuter LONDON The International Energy Agency in its monthly report issued yesterday painted a picture of a continuing glut of oil in the third quarter just ended and predicted that supply will continue to outstrip demand in the months ahead. If the lEA's scenario unfolds,
        Reuter  -  334 words
      • 83 8 AFP NEW YORK The dollar moved higher against the other major currencies yesterday, benefitting from fresh concerns over monetary integration in Europe and a sharp drop in the French franc. Gold rose US$1.10 from Thursday to US$383.90 per ounce. By mid-morning, the dollar traded at 1.4233 German marks,
        AFP  -  83 words
      • Article, Illustration
        1211 8 Trade-wnghted index calculated agatnst Sport's lop 14 trading pmtrrtes. Base year 1985 Base year: 1985 US$*$ forward rates Noon Oct 6 BU Offer 1-month ***** 1.1291 2-month 1.4245 I42C0 3-month 1.4211 1.4226 6-month 1.4117 lil37 Sourer OCBC Source: OCBC FOREIGN CURRENCY NOTE RATES As at tw «i Oct f Swapon
        Base year: 1985  -  1,211 words
    • COMMODITIES & FUTURES
      • 1302 9 Reuter SINGAPORE Simex Euroyen and Eurodollar were confined to range-bound trade on thin volumes, with most contracts closing lower. Dealers said Euroyen trade was dampened by uncertainty over dollar/yen movements ahead of the Group of Seven meeting today. "People don't know whether to buy or
        Reuter  -  1,302 words
      • 678 9 OOMMOtTY MFONTS KL Tin Tin price on the KLTM slid 13 sen to MS 1 5.62 per kg following weaknesses in three-month tin on the overnight LME. The US$6O fall on tne London market caused sentiment to be easier and sparked more selling
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      • 48 9 HONGKONG The Chinese government has issued licences to the state trading agent Ceroilfood to import 200,000 tonnes of soybeans to cover a domestic supply shortfall. Traders expect China to enter the US soybean market soon for nearby shipment as local supplies have been dwindling.
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      • 48 9 HANOI Vietnamese coffee had overseas sales of US$4lO million (SssB6 million) in the 1994-1995 season, a report said yesterday. Vietnam exported 150,000 tonnes of robusta coffee mostly to Europe and the US, putting the commodity behind oil as a source of export earnings.
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      • 87 9 CHICAGO Export inquiries for US cotton were slow last week, with attention focused on Hurricane Opal the latest reason cited for the quiet times. "It's been the same story for a few weeks," one exporter said. "From the shippers' end, they are waiting for the
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      • 63 9 KIEV The Ukraine will harvest 38 million tonnes of grain this year compared with 35.5 million in 1994. The country will cover all its grain needs and export grain to CIS member nations under inter-gov-ernmental agreements, an official in the Ukrainian Agriculture and Food
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      • 59 9 ROCKHAMPTON, Australia Rising US cattle futures "holds some hope" for a rise in Australia's currently depressed US frozen manufacturing beef market, said Keith Lawson, chief executive of Australia Meat Holdings. "Grain prices are going up and the US is going to nave dearer cattle; that
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      • 1260 9 SKOMhrtww (future* doting M at MOpw) WSSIO»^—t (Scentt/kg) Cloee Volume Ocen High Low Sen (tomm) l«gg NoT95 201 00 ioo if75 Dec 200.00 191.00 1*800 325 1330 Jan 96 196.00 195.75 195 50 200 1525 Feb 96 196.00 195.75 195 50 200 1525 Mar 96 196.00 195.75 195
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    • REGIONAL STOCK MARKETS
      • 528 10 +22.54 Share prices rose, gaining some steam on the second day of a technical rally. "The volumes were good so that warranted a follow through," said a dealer. The PSE Composite Index sained 22.54 points to close at 5,640.77. Turnover was 3.07 billion shares valued at 1.46 billion pesos.
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      • 1059 10 -4.5 SHARES closed lower yesterday amid anxiety ahead of key US economic data and a Group of Seven meeting today. "It was a quiet day," said a trader. "There wasn't any confidence in the market ahead of the G-7 meeting." The All Ordinaries Index lost 4.5 points at 2,098.2.
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      • 471 10 +113.26 Share prices finished higher amid speculative trading, with all eight major categories of shares posting substantial gains. The 321-issue Weighted Price Index jumped 113.26 points to 5,213.73. Turnover was 1.69 billion shares worth NT552.2 billion. Gains outstripped falls 341 to 11 with 8S issues unchanged. The market opened
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      • 372 10 4-13.02 Stocks rose as institutional investors bid up shares in leading exporters, state-run monopolies and holding companies. "Although individual investors still remain in the sidelines, institutional investors are becoming increasingly aggressive," said an analyst. The Composite Index rose 13.02 points to 1,002.07 in trading of 35.3 million shares. Risers
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      • 303 10 Stocks ended mixed. Telecom Corp sained as bonds rallied while forester Carter Holt Harvey declined after lumber prices plunged in the US, traders said. Telecom shares rose to a twoweek high as bonds rallied in the wake ofThursday's well-bid government bond sale. The shares tend to react to
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      • 133 10 +40.74 Shares closed higher, buoyed by a market-friendly carry forward trade system approved by the market regulator, brokers said. "It was very good news but market players were still cautious," said a trader. "Because the markets were depressed for a long time, people didn't have the confidence to make
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    • WORLD STOCK MARKETS
      • 632 10 M I BmaMM r MINIS Stcriiag Cash Bid Offer Mint Cap Deposit 31.4400 31 iJOO Mim Jersey Gill 0.1 WJ 0.1492 Mini Max Income *0 9200 *10 MOO uss Cask Incom* Plus Fond ♦.♦500 10 4*00 PS S Reserve Fund *5.5700 *5 5*X> p-- i» MffllM tMIIY Euro Performance 0.4592
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      • 637 10 •17.9 SHARE prices declined as European stock and currency markets suffered a bout of jitters ahead of the weekend G-7 meeting. The FTSE 100 dropped 17.9 to 3,526.5, eating into the gains of the past five sessions but recovering towards the close as US stocks rose and gilts bounced
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      • 155 10 French shares finished firmer, reversing heavy losses of more than 2 per cent on the day, after the Bank of France stepped in to defend the franc. The Bank suspended its five-to-10 day emergency lending window and posted a 24-hour lending facility at an unchanged 6.15 per cent. The
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      • 190 10 -37.39 Share priccs closed steady at lower levels in quiet trading, with sentiment weighed down by the weaker dollar and lower bond prices. The DAX Index closed at 2,171.43, down 37.39 points after trading in a narrow range of 2,171.382,177.52 throughout the session. Traders said investors are reluctant to
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      • 156 10 •1.59 Belgian stocks fell amid speculation tax increases and a decline in the dollar will dent earnings. "The economic slowdown means second-half earnings will decline compared with the first half," said an analyst. "Growth will be too feeble next year too to see much increase in profit." The Bel2o
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      • 96 10 +o.spc An early rise on Wall Street pulled the Swedish shares up at the close, releasing it from the tight grip climbing bond yields had clamped on it for most of the day. The General Market Index closed 0.5 per cent higher at 1,782.12 points in healthy volume of
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      • 241 10 +17.4 Share prices closed higher in quiet trading on a stronger dollar and the afternoon recovery in Paris and on Wall Street, dealers said. The SMI Index closed 17.4 points higher at 3,054, and the SPI Index rose by 9.08 to 1,985.66. An analyst said the stronger dollar and
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      • 357 10 +47.8 South African shares managed strong gains in most sectors but gold shares headed lower as the bullion price remained static. Dealers said follow-through demand after Thursday's strong run had spurred gains after equity futures again made the early running despite fears that current premiums to spot were unsustainable.
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      • 198 10 -8.78 Stocks opened down in quiet trading ahead of Canada's Thanksgiving holiday on Monday. The TSE 300 fell 8.78 points to 4,490.99 on volume of 9.5 million shares worth Csl72 million. "Looks like it should be a particularly quiet day," one trader said. But Toronto's heavily weighted gold sectors
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      • 771 10 Stock prices turned higher in quiet trading early yesterday after bonds recovered from an unexpected retreat despite a weaker-than-ex-pected employment report. The Dow Jones Industrial Average, which rebounded 22.04 points on Thursday, was ahead 8.67 to 4,771.38 at 11am EDT. It was down 4.70 shortly after the market
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      • 141 10 •12 'Italian stocks fell, pulled lower by drop in Fiat shares. A weaker lira and perceptions that the government wasn't doing enough to reduce the spending deficit also weighed on shares. The Mibtel Index fell 12 points to 9,754. The Mib3o also fell 12 to 14,454. Fiat shares tumbled,
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      • 221 10 -0.47 Dutch shares closed down slightly but off mid session lows, buoyed by a strong performance on Wall Street on the back of favourable US payrolls data. The AEX Index ended down 0.47 points at 462.21, after dipping to 459.13. "The dollar went down and bonds weakened which were
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    • Article, Illustration
      2337 11 Bloomberg Business News HONGKONG Stocks were mixed, closing below their 13-month highs, as bank and property stocks fell and Hutchison Whampoa and New World rose. The Hang Seng Index, which on Thursday rose to its highest level since September 1994 before closing lower, may top 10,000 within days. Many
      Bloomberg Business News; Source: Bridge Info  -  2,337 words
    • Article, Illustration
      594 11 CLSA IN Hongkong, the H share index gained 5.16 points at 98.72 on a turnover of HKS6 million. Yizheng rose 2.2 per cent on a volume of US$2.6 million. Other risers were Maanshan Steel, up 2.1 per cent and Shanghai Petrochemical, 1.1 per cent higher. The Shanghai B Index
      CLSA  -  594 words
    • Article, Illustration
      2388 11 Bloomberg Business News TOKYO Stocks climbed to a two-week high, led by technology and brokerage shares, as invesi; tors were cheered by the dollar's r rebound above 100 yen. "It's all currency," said an analyst. "Otherwise, we are kind 5 of featureless here." The dollar was trading at 99.96
      Bloomberg Business News; Source: Bridge Info  -  2,388 words
    • Article, Illustration
      1441 11 Reuter BANGKOK Stocks finished the day at the session high as investors bought shares mainly in the bank and finance sectors. The SET Index closed 12.63 points higher at 1,327.44. Turnover was 55.1 million shares worth 4.9 billion baht. Advances led declines 168 to 107 with 121 issues unchanged.
      Reuter; Source: Bridge Info  -  1,441 words
    • Article, Illustration
      1076 11 Reuter JAKARTA Share prices finished slightly firmer on buying in some blue chips despite Late profit-taking in small issues. The Composite Index rose 1.28 points to 496.29. "Local speculators were seen taking profit in small issues ahead of the weekend, but modest buying in blue chips sustained the upward
      Reuter; Source: Bridge Info  -  1,076 words
    • 2443 12 Gf Cr .„J*5 LaM V«i Dn Laat Qaot. Mr M> YU Nat M Cap Higk Low Staa Ci«|h; Salt COM) Hfcfc Low Sa£r CV P/I W MMAYSMN STOCKS •47$ 196 ia MOO AISS 50c 3)0 -4 II 334 320 320 3» 3.0 -19 13 3314 >2 Tt.S m
      2,443 words
    • KUALA LUMPUR STOCK EXCHANGE
      • 6409 12 unaware oi me speculation oi a Bloomberg Business News KUALA LUMPUR Stocks fell a fourth time in five days as investors continued to focus on an economy they feel is overheating. Foreign investors concerned about the economy are unlikely to make any
        unaware oi me speculation oi a — Bloomberg Business News; Source: Bridge Info  -  6,409 words
    • STOCK EXCHANGE OF SINGAPORE
      • 8393 13 1 IMS Laa V«l Day LaaQaese Dh Oh YM Na Cf Aip Hlpk Lot Mae Ciani Sale W- (IM) Hlpk Le> hgn Mh> CV M W Prka k 2IO IM 1251 Acer 90c US 194 *4 it! IN 1*0 IN It) 13.2 321.2 "5)0 312 at 1000 Acw 50c 515
        8,393 words
      • 1845 14  -  By R Sivanithy SINGAPORE The local bourse ended the week on a quiet note yesterday, with the only notable activity coming in US dollar issues and a handful of smaller capitalised stocks. Blue chips, after being in favour over the previous
        Charts by Bridge Info; Source: Bloomberg  -  1,845 words
  • Page 5 Advertisements
    • 155 5 NEWS VALUE STI expects at least tight profitable ventures next year (pg 1) Should help counter-balance the concern weighing on Singapore Telecom shares that it is face increasing competition at home. Gortito eel land ier underground ml hi flrat ha* 1996 (pg 2) Orchard Road retailers seeing more and more
      155 words

  • Page 6 Advertisements
    • 343 6 )~-}\:|^|+%?}{/?_@}+.%"^!]}<,"} 11l THE MATTER OF THE COMPANIES ACT. CAP. 51 AM) M THE MATTER OF YUAN ARTS GALLERY PTE LTD (Incorporated in the Republic of Singapore) A! an Extraordinary General Meeting of the members of YUAN ARTS GALLERY PTELTD duly convened and held at 257 Selegie Road #06-277 Selegie Complex
      343 words

  • Page 7 Advertisements
    • 201 7 I DBSHNANCE I I 25 YEARS IN I I SINGAPORE I I 19 7 0-1995 I I On October 9, 1970, DBS Finance was formed as a subsidiary of the DBS Bank. I Today as we celebrate I our Silver Anniversary, it is time perhaps to reflect on our years
      201 words

  • Page 8 Advertisements
    • 61 8 You may haw been unaWfjpM get your Businees Times. T Straits Times, Sunday TinA A LianHe Zaobao and other B daily newspapers from your, ip rtnei newsstand because dtwtt h I i,h m r| l-t-L. A -V im/w oemaoa tawy. ii To ensure a daNy copy, okJE Customer Services SectkxwH,
      61 words


  • Page 10 Advertisements
    • 80 10 Game over! What's next? Call Sports News I on 1900-912-0012, at 30 cents a minute. 1 < V||9 MfWk Im gfmk |L VV A Jft iK I II II II I I I I I I m I I M m H ffl I II I 1 II II II
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  • Page 11 Advertisements
    • 46 11 Celebrating Singapore's Enterprising Spirit Be part of the Enterprise 50 list A ranking of the fifty most enterprising, privately-held local companies. Come forward and claim your place on the list It's an honour. Call the Enterprise 50 hotline 290 8998 for a nomination form. dtJJsxrra Busmesfflmes
      46 words

  • Page 12 Advertisements
    • 68 12 Quickstock.„ —a Real-time Update IUfIR A 24-* r time s tock i*f° Gives you instant access to reliable stock info '"vTfolioV"" ert h !%cks'. anywhere. W track Lets you make timely decisions on your investments. H AU you need is key in the 4-dtgit stock number found on the SES
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  • Page 13 Advertisements
    • 37 13 r nsr relief nNW |H Indigestion causes pain and discomfort in your stomach. Qaviscon acts quickly by forming a protective layer mhp *****6 over the undigested food in the stomach, to relieve indigestion. QAvmcou rmukvmm WHOM rum.
      37 words

  • Page 14 Advertisements
    • 454 14 Stock code number for QoickStock Portfolio Manager serrice and real-time stock info. Call 1900-913-0003 at 30 cents a minute. I BUSINESS TIMES LIFESTYLE EXCLUSIVE C£ssS©^'S Ss!»o j ENTRY COUPON BUSINESS TIMES w. Www There are two parts to the contest. Please complete both parts. LIFESTYLE I The passage below is
      454 words
    • 57 14 Singapore Closing Shaw Prlcoo 06/10/1996 CUM MMV LOW HMM •am* w UN IM UN rl Ml 040 Ml 7JO rßMai LN LM IN o.a7s OJN oo7» 0.000 SShS U>« I.M I.M I.M LOl rnU'llllMH ■■Miifc Ort—■! tM 1.07 I.o* IM HWWTMHO 0.00 0.3— 0.90 o*7 Published by Jardme Fleming international
      57 words

  • Executive Lifestyle
    • 1395 15  -  Since 1989, the Singapore Turf Club has been encouraging companies to sponsor its races, and to date, 19 have responded. Susan Tsang finds out what both parties stand to gain from this partnership Susan Tsang HORSE RACING in Singapore hasn't quite reached the level of
      1,395 words
    • STRAWS IN THE WIND
      • 38 15 A REPORTER'S conversation in the MRT went like this: Friend of Friend: "Where you work?" Reporter: "Singapore Press Holdings." Friend: "Huh?" Reporter "You know, SPH?" Friend: "Oh, SPH! Wah, your share price very high, hor?"
        38 words
      • 45 15 A TEENAGERS' magazine reported that in Germany, youths were stealing Mercedes Benz cars to crash them so the safety airbags would be activated. According to one of them, the effect is like "banging your face into Anna Nicole Smith you know where".
        45 words
      • 112 15 FOR the Chinese, it's all a matter of face. Passengers on a Dragonair flight from Beijing to Hongkong were getting edgy when, due to strong winds, their plane was forced to circle seemingly endlessly until the pilot decided to make a detour and landed in Shenzhen. Some
        112 words
    • CORPORATE PROFILE
      • 2419 16  -  Being number two is not good enough for John Gokongwei, chairman and chief executive officer of JG Summit Holdings. Conrad Raj traces the growth of die Gokongwei empire and finds out how the shrewd Filipino businessman intends to stay on top of things Asia's corporate giants Conrad Raj
        Source: Annual Raport 1994  -  2,419 words
      • 641 16 JOHN GOKONGWEI Jr, chairman and chief executive officer of JG Summit Holdings, considers himself lucky that be has the support of his family members. He looks younger than his 69 years, and knows it. "I look 50, don't 17" he says. "That's because I don't have any
        641 words
    • OPINIONS
      • 796 17  -  Black celebrity accused of murdering his white ex-wife and her friend walks free and the US splits along racial fault-line LETTER ROA WASHHGTON LEON HADAR The writer is BT's Washington correspondent LAST Tuesday, the United States capital, like the rest of America, came to a
        796 words
      • 780 17  -  Telecom 95 in Geneva reveals frightening technology gap between haves and have-nots, Catherine Ong reports Catherine Ong The writer is BT's associate news editor UNIVERSAL connectivity wherever you are, declares the banner above the exhibition stand of US computing giant Digital. Here, you can try a
        780 words
      • 578 17  -  LETTERS TOTHE EDITOR Low Oon Song Commissioner of Lands I REFER to the Business Times articles "Differential premium still a bone of contention" and "$2OO million govt levy could squash Exchange Centre" published on Sep 19, 1995. State Land is sold at a specified
        578 words
      • 122 17  -  Philip Tan Company secretary Uraco Holdings Ltd WE REFER to the article, "Uraco unit wins USSIOB million in HP deal" (Business Times, Sep 9), which was based on a news release issued by Uraco Holdings Ltd. We wish to clarify the sales estimates for the project
        122 words
    • PERSONAL FINANCE & INVESTMENT
      • BULLS EYE
        • 618 18 Those polled on their views of the Singapore stock market for the week ahead: Alliance, Baring, Credit Lyonnais Securities, Daiwa Securities, Fraser, G K Goh, Morgan Grenfell, Phillip, Smith New Court and S G Warburg. Buy! Goldman Sachs (Oct 6) Hongkong Land. Hongkong Land's shares
          618 words
        • 393 18  - In my opinion Manu Bhaskaran Economic Research Director Crosby Securities 4 4 r I 1 HE Thai market I has been a disapX. pointing performer because of perceptions of political and economic risks. Are the risks of economic imbalances forcing policy measures which hurt the market really that high? We
          393 words
      • 761 18  - Try guessing the mood of the crowd THE WEEK By Paul Leo THIS weekend will see the largest gathering of investors at a single venue in Singapore. And psychologists will probably have an edge in analysing the market for the week ahead. Imagine being able to know what every single
        761 words
      • 722 18  -  With stock markets either down or up just a mite, the total market cap of the region's top 25 firms rose only 3% in the third quarter, Paul Leo reports Paul Leo THE total market capitalisation of the top 25 Asia-Pacific companies outside Japan grew
        722 words
      • 471 18  -  BT Golf Index Bv Shahiron Sahari THE Business Times Golf Index went further in the rough in September, hitting a new low of 222.06. The index, which tracks the advertised values of eight local golf and country clubs, fell by 3.89 points
        471 words
      • 725 19  -  Analysts tell David Mok their favourites among the electronics counters David Mok Good buys can still be found among locallylisted electronics firms, despite the strong gains that the sector has already posted over the past two months, say analysts. But investors would be well-advised to
        725 words
      • 1153 19 For investors, the best time to buy is when the market has stabilised AFTER A hiatus of more than a year, the Singapore stock market is springing back to life. And a flow-on effect is that interest has also picked
        Source: Chart  -  1,153 words
      • 779 19  -  Eye on the region: Thailand By Alan Boyd AN influx of foreign capital has brought a flicker of life to the dormant Thai stock market, with investors allowing attractive returns to override negative economic sentiment. Earnings per share (EPS) of listed stocks have risen by
        779 words
    • 924 20  -  Corinne Kerk browses through the eclectic selection available at the soon-to-be-opened Tower Books Corinne Kerk IMAGINE. A guide book that teaches you how to sponge off your boy/girlfriend. Or what life is like for the average Shambhala Warrior. Or your very own Star Trek companion. Alternative reading is
      924 words
    • 598 20  -  WebSighte By Vikram Khanna IF You're a habitual visitor to the international property exhibitions that are being so aggressively advertised in Singapore these days, you might find it worth spending an hour or so to check out what is probably the biggest exhibit of all, and
      598 words
    • 1671 20  -  Whatever the real medicinal value of bird's nest, it is proving.to be a healthy business in Thailand fhailand. Alan Boyd reports Alan Boyd The writer is a Bangkok-based journalist n who contributed this article to Executive Lifestyle IT
      Photos by Alan Boyd  -  1,671 words
    • Article, Illustration
      597 21  -  Ommi Rsvtaw PARVATHI N NARAYAN The writer is a freelance journalist who contributed this review to Executive Lifestyle CLAIBORNE is a movie from a Stephen King tale, and flßßates plays Dolores. Does it sound l£pe*s going to be yet another batty ■■■ter in a twisted horror tale? Well,
      597 words
    • 548 21 Tired of the same old arrangements? Tan Su Yen and Jaime Ee find out what enterprising florists are now delivering to your doorstep HERE'S got to be a morning I after," went the popular love -A. theme from the '70s. But while there are mornings that come
      Photo by Chris Loh  -  548 words
    • 697 21  -  By CORINNE KERK WHO HASN't seen the famous interlinked double-C logos and long roped-pearls that scream Chanel? These items, so distinctly representative of the House of Chanel's costume jewellery, are typical examples of the French designer's extravagant statements. Since 1993, however, a real jewellery line has
      697 words
    • EPICURE
      • 559 22  -  Bon Appttit By JAIME EE CONSIDERING the number of visiting chefs flying into Singapore armed with their accents and pre- cious Michelin stars, it's a wonder that we haven't started packing foie \gras sandwiches for lunch on dry days. The latest master chef to take 'over a hotel
        559 words
      • 498 22  -  Corinne Kerk recounts the odd beginnings of Pineau des Charentes Corinne Kerk BEAT THIS. One sunny day in the 16th century, a wine maker in Charentes, France, accidentally poured some grape juice into a cask of cognac. Furious at his blunder, he put
        498 words
      • 665 22  -  Wine By! N K YONG AMONG wine collectors today, the status word is Le Pin, not Chateau Petrus. To be a Petrus collector is to be one of many. To be a Le Pin collector means you have influence as well as money. Both Le Pin and
        665 words
    • PEOPLE
      • 298 22 BANK Leu Ltd, Switzerland's oldest existing bank and whol-ly-owned subsidiary of Credit Suisse Holding, hosted a gala cocktail reception to celebrate the official opening of its Singapore representative office and asset management company, Leu Management Services (Asia) Pte Ltd. The company will focus
        298 words
    • Article, Illustration
      969 24 Apollo 13. Tom Hanks and his crew shoot for the moon and miss. The earthbound try to get them home. Yishun: 11.05; 6.35. Bishan, Tiong Bahru: 6.45. Bugis: 12; 6.30; 9.30. A Walk In The Clouds. Keanu Reeves meets an unmarried, pregnant girl on a bus and poses as
      969 words
  • Page 15 Advertisements
    • 82 15 It takes more than money TO WEAR THE ROYAL OAK. For the past twenty years, some of the most successful and admired men and women have chosen to wear the Royal Oak. A watch like no other. Distinctive. Exclusive. Uniquely designed. And quite simply in a class of its own.
      82 words


  • Page 17 Advertisements
    • 81 17 October 1995 BiBHBMMgMMMBMM ■$4 I I BUSINESS I I POWER W I I Ell Alf JI I I I Singapore Power AflA I I gears up for growth I I Hu I H Hv- I■ '$%s&§&. scr*. V HoKwonPing, H H II H g. Singapoftk H H with Wfe' H
      81 words
  • Page 17 Miscellaneous
    • 53 17 f GELTYiMG IMTC) THE. '2D 7W CZjJTuRY vqj CAM'T £*fecX 6R4STOIO VOVJ Pkße. INJ TOCT\ V? LQNG MP*RD PROCESS. J TO DO IT IKI fvMJCH Of f\ HURR.V v )=n/ to C AMOCUTfO MCWSPAPCMS LTO.. IMI-IMt ftwi,. 9534 DOONES6URY garry trudeau US' I o*o' THSY W A OKAY, PO6MEAr\ >V>/
      53 words


  • Page 19 Advertisements
    • 39 19 Ml JJmt Jj* j jin jj ;I f boutique I X ijm ft mw&B hL^Jtfrtirchi rd Road Vm^l^ ill if KB I' con Hotel I f JkjHjf jfl I lif kJ. ifllSUj H| A CLUB r j li ;l
      39 words




  • Page 23 Advertisements
    • 1086 23 iifAv/rnniCl i gsr/n i m \uT33 where to wine, dine and entertain worlds ywgesT SCLLING BEER J Q »<u— "High Tea" starts at High Noon Don't miss our delicious High Tea Buffet available from 12 noon to spm every weekend. Price: $13.80 (adult) $8.80 (child) A La Carte Menu is
      1,086 words
    • 283 23 I fancy 'Beijing? I Then, we're delighted to suggest the fine Court for a memorable doing aqxnenct. Our batch menu offers «variety of dm* Xpt "Beijing dumplings, a selection of i set menus, end Beijing specialities HXtT such as "Beijing Dud(, On/fad Tench end ||jySSnj Marinated Lamb, fancy some n/m/f
      283 words

  • Page 24 Miscellaneous
    • 2371 24 i TODAY'S TV I Pulmonary Home Exer- t —I Stars. Nuclear Medicine, I (JO Darf Pasat Mam. Water Exercise. I 7.00 Dornmow fba Rickshaw Bay, 2pm, Ch t Claama, Cinema, Claama, 2pm, 9JO Warid of Golf (See Our tVjBOS 7.30 Atoag. g°J*l tells of the hardship and This edition features
      2,371 words