The Business Times, 23 November 1996

Total Pages: 24
1 24 The Business Times
  • 16 1 THE BUSINESS TIMES MITA (P) 04tV 12/95 85c SINGAPORE Internet: http:// www.asial.com.sg/biztimes WEEKEND EDITION, NOVEMBER 23-24,1996
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  • 62 1 D 21M.75 (-2.94) D K (+2.55) PI BTOOMP U *****4 (+6.66) BTMOA mm 1007.33 (-1.96) wocfMgrmmcBB Friday Change KIjSKCOMP 1,217* *1124 NIKKEI *****11 +7177 HANG SKNO 13.1 W.79 I7.2S SCTHWRX 970.30 >14.96 JAKARTACOMP S 12.80 +187 MAR1UCOMP 3,***** +125 TAIPEI WP! S, 761.39 +68J 8WULC0MP 731.44 -1147 C15A
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  • 65 1 EXCHAM8E BATES us$ s$ UWL-U. mm t— 1.683 1*8 1)4 0668 0.936 YKN IN 0.899 1169 m 0J»7 0M6 HKS «.l» 0.181 BAHT 0039 0.066 RU11AH 1« 0.0« 0.060 TOME BATES SINGAPORE' 144 KUALA LUMPUR 915 JAKARTA 18.00 BANGKOK.. MANILA 13.50 HONGKONG .8.50 TAIPEI JA SYDNEY 10.50 TOKYO A70
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  • 481 1  -  Insnrance cooperative to laonch scheme in J&nn&ry By I Siow Li Sen [SINGAPORE] NTUC Income has taken the lead in offering reverse mortgages, which allow a homeowner to mortgage his house to a financial institution, receive monthly payments in return, while continuing to
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  • 551 1  -  Power firm sets sight on being second fixed-line telecoms player By Ven Sreenivasan [SINGAPORE] Singapore Power (SP) is gearing up to become the Republic's second fixed-line telecommunications player and will form a consortium to bid for a telecoms licence next year, chairman
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  • 406 1  -  By Michelle Low [SINGAPORE] The number of unsold new private properties has risen to 8,882 units at endSeptember, latest quarterly data from the Urban Redevelopment Authority show. This was a significant increase from the 6,914 new housing units unsold at
    406 words
  • 487 1  -  Deal will raise SembCorp's stake to 41.6% from 20% By' Ven Sreenivasan [SINGAPORE] Sembawang Corp (SembCorp) is injecting $279.28 million worth of its shipyard and engineering assets into associate Jurong Shipyard Ltd (JSL) in return for some 41.07 million new JSL
    Source: Bloomberg  -  487 words
  • Page 1 Advertisements
    • 126 1 nwipa revamp at biChag Three divisions of the Malaysian motor group are to be spun off and listed on the Kuala Lumpur and Hongkong exchanges, Pf 7 iMmg toe nm tmng Meet Kwek Leng Beng, the world's 23rd biggest hotel owner and operator, ELI MBWBTALOB wvtfctf satiate* Jmg SUpri this
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    • 77 1 Four SDP men M h face fines mk A faces #s,ooofine pa h The new Alfred Dunhill Golf Collection. Indispensable for the serious golfer. Alfred Dunhill brings you an exciting evening of golf with the HI 1 JlB 1996 Alfred Dunhill Cup on Premiere 12 tonight at 10 pm. B
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  • SINGAPORE AT HOME & ABROAD
    • 283 2 THE Land Transport Authority (LTA) yesterday completed a project linking all of Singapore's traffic lights to an intelligent management system that will improve travelling time by about 15 per cent and reduce vehicle noise and emissions by one third. Called Glide, or Green
      283 words
    • 217 2  -  By Jenny Lam VISITOR arrivals in October rose 2.1 per cent after three consecutive months of decline, the Singapore Tourist Promotion Board said yesterday. f» A total 0f600,912 people visrlted the Republic last month. ..This brought the arrival figSires for the first
      217 words
    • 698 2  -  PRIVILEGES (JOMMIITEE FMBiMUS Parliament to debate report but acceptance not expected to bar the four from standing in coming OE By i Chuang Peck Ming THE Privileges Committee has recommended fines totalling $51,000 for four members of the
      698 words
    • 470 2  -  By\ Harish Mehta, Vikram Khanna CHILE can serve as an efficient gateway for Singapore businesses to enter the dynamic Latin American market, Chilean President Eduardo Frei Ruiz-Tagle said yesterday. Speaking at a seminar, "Trans-Pacific Partnership: A Business Dialogue with Chile," Mr Frei
      CHRIS LOH  -  470 words
    • 211 2 THE Singapore Computer Society (SCS) has launched The IT Leader Awards for outstanding individuals who have made significant contributions to information technology (IT) in Singapore. SCS president Juzar Motiwalla said yesterday that the awards also aim to "propel the IT industry to greater heights in
      211 words
    • 181 2 THE Singapore Productivity and Standards Board (PSB) is -playing matchmaker in its latest bid to boost productivity. It has launched a series of seminars to facilitate colldfcrations between local companies and foreign business communities, starting yesterday with the German business community. One of the aims
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    • 364 2  -  NCB-NUS survey also shows V 4 of owners plugged into Net By. Audrey Tan ONE in three Singaporean households owns at least one personal computer (PC), compared with one in every 10 in 1988. And among this group, 24 per cent, or
      364 words
  • Page 2 Advertisements
    • 42 2 1 »v, I iJ 1 v mm' •yp Y I W* 5i *-r .W 4 Ipr 1 k to a Congratulations Best Wishes to Hong Seh Motors Pte Ltd on the opening of your new Ferrari Showroom. Ferrari Only Recommends Shell. y^gjy^
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  • Page 3 Advertisements
    • 130 3 n Hong Sell Motors Pte Ltd welcomes Mr. Luca Cordero Di Montezemolo, J President of Ferrari S.p.A. Italy. lo t *> -t; £*>* V |l ;i fi Ferraris move very, very fast. For instance, by the time you read this, we'll be at a new address. 10 Fourth Lok Yang
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  • FOCUS: PERSONAL FINANCE & INVESTMENT
    • 654 4 Those polled for their views on next week's Singapore stock market outlook are: Alliance Securities, Deutsche-Morgan, Daiwa Securities, Fraser Securities, GK Goh, ING Barings, OCBC Investment Research and Phillip Securities. Comfort Group (Long-term Buy) OCBC Investment Research, Nov 21, $1.22 Results would have been slightly below expectations
      654 words
    • Article, Illustration
      390 4  -  Tan Min Lan Senior economist 6 vlee-presldent corporate strategy 6 research Merrill Lynch, Singapore HE Straits Times InI dustrials Index (STII) X has risen 160 points or 8 per cent since Oct 22. The rising volume accompanying the climb and the overwhelming response to recent initial public
      390 words
    • 1304 4  -  But they are unlikely to pose a major threat to private sector market By] Long See Hong The writer is an associate director (development consultancy research) at Richard Ellis (Pte) Ltd [SINGAPOREI ONE of the major developments in the property market this year was the
      1,304 words
    • 521 4  -  By. Michelle Low [SINGAPORE] The good thing about Wee Poh Holdings' initial public offering is that it is a chance for investors to buy cheaply into a company in a rock-solid industry building infrastructure. The not-so-good thing is that, historically,
      FILE PHOTO  -  521 words
    • 496 4  -  Rise indicates market may emerge from 20-month slump By\ Christopher Tan [SINGAPORE] The Car Track index for October hit 89.5 a five-month high. It was up 20.3 per cent from September's 74.4, and 43.2 per cent higher than the 62.5 in August.
      496 words
    • 543 4  -  EYE ON THE REGION: THAILAND Bntsome analysts say reprieve could be short-lived By. Alan Boyd [BANGKOK] Reduced political tensions and a downward trend in bank rates are expected to draw investors back to the Thai stock market after months of selling pressure. But the reprieve could
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  • REGION
    • 442 5 KUALA LUMPUR He cites instances but vows to encourage private firms to venture abroad AFP MALAYSIA'S Prime Minister Mahathir Mohamad accused various groups in the West, especially the European media, of trying to sabotage Malaysian investments abroad. "I have the feeling
      AFP  -  442 words
    • 381 5 HONGKONG 95% in AmCham poll say HK will be bosiiiess-frieiidly for next five years AFP MOST US businessmen here are upbeat about Hongkong's political and business prospects in the years following the territory's handover to China in 1997, a survey showed yesterday.
      AFP  -  381 words
    • NOTE Book
      • 69 5 AFP [TOKYO] Japanese Finance Minister Hiroshi Mitsuzuka yesterday admitted accepting donations from a lobby group linked to a welfare organisation at the centre of a widening bribery scandal, jyi Press reported. Mr Mitsuzuka told reporters the lobbyists, linked to the scandal-ridden Aya Welfare Group, had
        AFP  -  69 words
      • 66 5 AFP [GENEVA] The International Labour Organisation, concluding a two-week meeting here on Thursday, highlighted Indonesia's poor track record on labour rights, saying there had been no improvement in this arena and called for the release of locked-up union leaders. The ILO's governing body also singled
        AFP  -  66 words
      • 76 5 Reuter [HONGKONG] Hongkong police yesterday issued a revised death toll for the territory's worst building blaze on record, reducing it to 37 from an earlier figure of 39. Police Senior Superintendent Victor Lo said police believed the final toll was 37, not 39. He
        Reuter  -  76 words
    • 112 5 SHANGHAI AFP CHINA has established an an-ti-graft hotline to curb corruption among officials in Pudong, the country's biggest development zone, Xinhua news agency reported yesterday. The zone's anti-corruption centre will also accept personal calls and written complaints, and pledges to reply to all allegations within
      AFP  -  112 words
    • 219 5 SEOUL Bloomberg Business News AFP SOUTH Korean prosecutors took their first step in a crackdown on corrupt bank lending, summoning the president of Seoulßank, one of the country's biggest banks, for questioning yesterday. The Supreme Public Prosecutors' Office said it may charge the bank executive,
      Bloomberg Business News; AFP  -  219 words
    • 65 5 China sees Picasso finally [BEIJING] Chinese art lovers gathering around three paintings by Pablo Picasso at the opening of a show at the China National Art Museum on Thursday. The show features more than 100 pieces of Western modern art donated by the late German art collector Peter Ludwig. It
      AFP  -  65 words
    • 358 5 MANILA Higher excise taxes on beer, cigarettes expected to raise additional 6b pesos Bloomberg Business News AFP, PRESIDENT Fidel Ramos yesterday signed an amended excise tax law, setting into place the most important component of a comprehensive tax reform package aimed
      Bloomberg Business News; AFP,  -  358 words
    • 278 5 HONGKONG He denies press reports linking him tn money-laundering activities in Myanmar SCMP BUSINESSMAN Robert Kuok has denied inferences that he and his companies were involved in money-laundering activities with an alleged drug trafficker in Myanmar, and said he was suing for defamation.
      SCMP  -  278 words
    • 1440 5 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi BY6K) 2025 GA890 0120 Fd—la ***** 1730 S0990 0115 Witt 0735 Guangzhou C2351 2035 Ad«Uide BY609 0620 0F82 2050 Hanoi VN741 1310 S0176 1130 S0230 1815 BY6W 2140 S0175 WO VW740 1410 0F8 1930 Hit Yil M189 3 1415
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  • REGION/WORLD
    • 740 6  -  APEC SUMMIT MANILA Consensus could still emerge over Washington's ITA, says Philippines By Yang Razali Kassim A CONTROVERSIAL US plan to remove tariffs in the information technology sector that could galvanise the 18 Apec economies into taking a common stand at the
      REUTER  -  740 words
    • 246 6 GENEVA Reuter ENVOYS to the World Trade Organisation battled yesterday over the text of a key declaration on the global trade agenda into the 21st century. Argument centred on a draft of the document to be issued at a WTO trade conference next
      Reuter  -  246 words
    • 420 6 MANILA Bloomberg Business News WHILE the United States welcomes China's eventual entry into the World Trade Organisation, many obstacles to that entry remain, acting US Trade Representative Charlene Barshefsky told reporters. "There's still a long way to go," Ms Barshefsky said in response
      Bloomberg Business News  -  420 words
    • 269 6 UNITED NATIONS Reuter, AFP UN SECRETARY-general Boutros Boutros-Ghali, running for a second five-year term in office, said on Thursday that he did not wish to see his name submitted to the Security Council for another vote. But at the same time he said
      Reuter,; AFP  -  269 words
    • WORLD Watch
      • 121 6 Reuter [FRANKFURT] The Swiss-based Bank for International Settlements (BIS) has said it did not help Nazi Germany hoard looted gold during the Second World War, nor was it on friendly terms with the German Reichsbank, or central bank, at the time. In 1946 the
        Reuter  -  121 words
      • 51 6 AFP (MOSCOW] Russian President Boris Yeltsin will return to work in the Kremlin in two to three weeks, earlier than expected, after recovering from heart surgery, the head Kremlin doctor Sergei Mironov said yesterday. Mr Yeltsin, 65, will return in "two, maybe three
        AFP  -  51 words
      • 102 6 Reuter [BORDEAUX] French Prime Minister Alain Juppe called yesterday for a quick end to a truckers' strike as thousands of lorries blockaded roads across France for a fifth day and sealed off more petrol depots after talks broke down. "We are aware of
        Reuter  -  102 words
      • 76 6 Reuter (FRANKFURT] German chancellor Helmut Kohl, widely seen as the driving force behind European integration, said yesterday that Europe's goal had to be to get as many fully-qualified countries into monetary union as possible in 1999. In a speech to the European Banking Congress
        Reuter  -  76 words
    • 182 6 PORT DOUGLAS, Australia Reuter US PRESIDENT Bill Clinton yesterday issued a sweeping environment statement, calling for legally binding commitments to reduce greenhouse gas emissions, toxic wastes and deforestation. "We share a responsibility to preserve a future for our children and grandchildren, we must care for
      Reuter  -  182 words
    • 369 6 SAN ANTONIO. Texas Bloomberg Business News THE US is enjoying "almost a perfect economy" with the pace of growth and inflation under control, Dallas Federal Reserve president Robert McTeer said on Thursday. While "a little bit of inflation can be detected", not every measure
      Bloomberg Business News  -  369 words
  • Page 6 Miscellaneous
    • 51 6 DOONESBPRY By Garry Trudeau SOfUHATPOVOU I CuJB'P 05 Uf<B A PAIR. SAY, PAKTNBR7 I I />V7»fcs7s>tt/ \1 BOTH...\\ orMOPBRN ?MSUR£ 1 HIANT TO COMB IN I MORB~THB BRS STAKING OUR CLA/m] s| HAVZIOUSe rfcAUZAPY] ON A MOMANP- IANP-POP ORTHB J VJ IDA MAY COOL TOMORROWI ;P CLINTON** I BACK IN
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    • 211 6 CKVPTiU CROSSWORD 1 Choose to have Ronald in charge with this type of brain the south-west (4) LmJ 10 11 Speak quite plainly and correctly 15 Child ie removed during the Gaelic dance evening (7) 21 Humble soldier backing peer (7) ~^l"~ 22 Tree Don uprooted was wearing —JM—^ away
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  • COMPANIES & MARKETS
    • 401 7  -  Group's move comes amid IPO euphoria; sources say 40-60 m shares to be offered By. Annette Pau [SINGAPORE] Hongkonglisted electronics group Wong's International Holdings is set to ride Singapore's wave of IPO euphoria with a main board offer for its printed
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    • 323 7  -  Analysts expect 25-40% premium in Monday's debut By, Jenny Lam [SINGAPORE] Sesdaq-bound Nobel Design said yesterday that the bulk of its shares offered to the public would go to small investors. The initial public offering had been 124.8 times subscribed, with
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    • 255 7  -  By] R Sivanithy [SINGAPORE] Diversified magazine distributors Times Publishing yesterday announced a 23.9 per cent increase in year-end profit after tax to $24.08 million, marginally higher than the 22 per cent rise that analysts had forecast. In its audited results for the year
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    • 711 7  -  HOCK LOCK SIEW S N Vasuki INDONESIA'S listed banks, long weighed down by problems of bad debts, are enjoying their moment in the spotlight. Stockbroking firms in Jakarta have placed them on their "buy" list in recent weeks and this
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    • 587 7  -  From Ruth Wong in Kuala Lumpur MALAYSIA'S Tan Chong Motor Holdings Bhd has proposed a major rationalisation and demerger scheme which will see three of its divisions being spun off from the motorbased group. The three divisions auto-parts, non-motor and
      FILE PHOTO  -  587 words
    • 227 7  -  By\ Diana Oon [SINGAPORE] Main boardlisted developer Bukit Sembawang Estates' interim results were boosted by booking prof- i its on a percentage completion basis for its ongoing landed t property projects in Kelulut Hill and Kechubong Terrace. Group turnover for the" first half
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    • REGIONAL COMPANIES
      • 570 8  -  Comment aimed at recent rumours about govt plans to limit single party ownership By\ S N Vasuki in Jakarta INDONESIA'S Finance Minister Mar'ie Muhammad has clarified that existing rules do not specify any ceiling on any single party's shareholding in listed
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      • 300 8  -  From, Agnes Wee, Ang Wan May in Johor Ba.ru SINGAPORE Airlines passengers will be able to book and pay for their tickets and check in ticketless on selected routes by the third quarter of next year, said Ng Sui Guan, its systems and
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      • 134 8 [MANILA] Food and beverage giant San Miguel Corp (SMC) has bought a 49 per cent equity in PT Dharmala Agrifood to gain market access to Indonesia's feed and poultry businesses. In a statement yesterday, SMC said that its subsidiary, San Miguel Foods
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      • 227 8 [SINGAPORE] Listed Hai Sun Hup posted a 10 per cent increase in net earnings to $14.93 million for the six months ended Sep 30. The diversified shipping group's profits were buoyed by its hotel operations, the bulk of which are in Australia and New
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      • 515 8  -  By\ Siow Li Sen DESPITE fears that the new stock exchange rules on corporate governance may be too onerous, independent directors now serving on audit committees have no need to worry, says law professor Walter Woon. A diligent independent director who has taken
        FILE PHOTO  -  515 words
      • COMPANY Briefs
        • 67 8 (SINGAPORE] Mainboardlisted boat maker GB Holdings has reported an increased interim loss of $513,000 for the period ended Sep 30, compared with a $479,000 loss in the same period last year. Turnover was down 8 per cent to $23.2 million. The company said sales
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        • 50 8 [SINGAPORE] Alexandra Holdings Ltd said yesterday that Alexandra Overseas Investment, its new wholly-owned subsidiary in the Channel Islands, has an in-principle agreement to buy an office building in London for £8.1 million (5518.9 million). The transaction is conditional on the approval of the company's shareholders.
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        • 73 8 (SINGAPORE] Asia Matrix has entered into a conditional agreement to buy an 80 per cent stake or 338,000 issued and paid-up ordinary shares of $1 each in the share capital of Mecplas Engineering Pte Ltd. Mecplas designs and manufactures precision mechanical plastic components
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        • 71 8 [SINGAPORE] Newly-listed Singapore distributor and manufacturer Ossia International has denied an Australian Financial Review report that it has made an offer to buy a 38 per cent stake in listed Australian sports company Rebel Sports. Joe Goh, group managing director of Ossia, said yesterday
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        • 75 8 [SINGAPORE] Powermatic Data Systems has reported increased losses of $849,000 for the interim period ended Aug 31 compared with losses of $61,000 previously. This was despite a 5.9 per cent rise in turnover to $46.8 million. The company said its bottomline was affected by the poor performance
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        • 51 8 Reuter [MELBOURNE] Asian investment group Delhani Investments Pte Ltd said yesterday it had taken a 6.8 per cent interest in retailer Coles Myer Ltd last week. Retailer Coles Myer said that Delham's purchase of the stake reflected the technical requirements of local corporate regulations.
          Reuter  -  51 words
        • 45 8 Reuter [KUALA LUMPUR] Shares of Multi-Purpose Holdings Bhd were suspended yesterday at the company's request, an official at the Kuala Lumpur Stock Exchange said. Officials at the company were not available for comment. Multi-Purpose's businesses include shipping, financial services and gaming. Reuter
          Reuter  -  45 words
        • 64 8 Bloomberg Business News [NEW YORK] Short interest in stocks traded on the New York Stock Exchange soared by 228.3 million shares, or 8.2 per cent, to a record 2.79 billion shares from mid-October to mid-November, as stocks kept reaching records. Over the same period,
          Bloomberg Business News  -  64 words
        • 58 8 Bloomberg Business News [TAIPEI] Taiwan's main stock index rose to a 22-month high yesterday, led by electronics companies such as Compal Electronics Co, amid optimism that earnings will surge. The Taiwan stock exchange's benchmark index rose 68.90 points, or 1.03 per cent, to 6,761.39, its
          Bloomberg Business News  -  58 words
        • 56 8 Bloomberg Business News [TOKYO] Profit at Sega Enterprises Ltd rose in the first-half as revenues from its amusement parks and arcades picked up and the yen weakened against the US dollar. The video game maker said profit rose 15.6 per cent to 12.7 billion
          Bloomberg Business News  -  56 words
      • 395 8  -  EAPRC to pay 15&5 m pesos for Cebn plant; it'll become major power retailer From, Al Labita in Manila A LISTED unit of Singapore's Van der Horst, buoyed by the success of its US$4O million (Sss6 million) rights issue, is
        395 words
    • REGIONAL/INTERNATIONAL COMPANIES
      • 271 9 Telecom giant jacks up full-year profit forecast to 349b yen from 234b yen AFP [TOKYO] Nippon Telegraph and Telephone Corp (NTT) said yesterday its pre-tax profit leapt a sharper-than-expected 64 per cent from a year earlier to 208 billion yen (552.6 billion) in the
        AFP; Source: Bloomberg  -  271 words
      • 277 9 SEC claims it doctored financial data to hide losses and bribes Reuter IWASHINGTON] US regulators on Thursday charged Italy's Montedison SpA with accounting fraud, alleging the conglomerate doctored financial data to hide nearly US$4OO million (***** million) in losses and funnelled money to
        Reuter  -  277 words
      • 47 9 [LAS VEGAS] Computer enthusiast Holger Stockey of Germany driving a virtual reality race car at the Comdex computer convention on Thursday in the city. Digital sponsored the Fast Track Tour to showcase their Alpha technology, a 64-bit, 500 MHz chip workstation the world's fastest. REUTER
        REUTER  -  47 words
      • 302 9 AFP [NEW DELHI] The chairman of ITC, India's first multinational with a Fortune 500 listing, is fighting alleged attempts by its British partner to gain control of the beleaguered company. Sources close to ITC chairman Yogi Deveshwar told
        AFP  -  302 words
      • 259 9 Bloomberg Business News [SYDNEY] News Corp, Rupert Murdexh's global media company, confirmed it sold its stake in Australian publisher John Fairfax Holdings Ltd. The Sydney Morning Herald yesterday reported that Mr Murdoch had sold his 4 per cent stake. The battle
        Bloomberg Business News  -  259 words
      • 273 9 Debt and equity funds will invest in private projects in Asia Bloomberg Business News [MANILA] American International Group (AIG) will start US$3 billion in debt and equity funds that will invest in private infrastructure projects in Asia, its chairman said. "The amount of funds
        Bloomberg Business News  -  273 words
      • 166 9 Bloomberg Business News [TOKYO] Fuji Photo Film Co, the world's second largest film maker, said profits rose as the yen fell against the dollar. The company said current, or pre-tax, profit rose 5 per cent to 58.96 billion yen (***** million) for the half
        Bloomberg Business News  -  166 words
    • FINANCE & COMMODITIES
      • 439 10  -  Some major city banks indicate they are close to completing write-offs By. Anthony Rowley (TOKYO] Japan's leading banks are finally emerging from the weight of post-bubble economy bad debts that came near to crippling a number of them. This became
        439 words
      • 298 10 Advantages of new bank targeting them still in question Reuter [LONDON] Reports that Midland Bank plans to set up a bank in conjunction with Brit-ish-based South Asian businessmen drew a welcome on Thursday but also provoked questions as to how effective it would
        Reuter  -  298 words
      • 389 10 USS/marki The US dollar drifted lower from last week's close of 1.5090 to touch 1.4943 on Wednesday. Thereafter, it settled to trade between 1.4945 and 1.5032. It was trading around 1.4975 yesterday morning. The resistance line joining the heights of Oct 17 and Nov 6 remains
        Source: DBS Bank ALLAN  -  389 words
      • 188 10 [SINGAPORE] Profit-takers kept the lid on a resurgent Australian dollar for most of the day yesterday, until early European trade saw the currency lifted back above 81 US cents. Towards the close of Asian trade, the Aussie doUar had drifted down
        188 words
      • 287 10 [NEW YORK] Investors scooped up close to US$2.7 billion (SS3.B billion) in new straight corporate debt issues on Wednesday, but a boatload of new supply is still about to be dumped on the market, some dealers said on Thursday.
        287 words
      • 139 10 Bloomberg Business News [FRANKFURT] Deutsche Bank AG will shift responsibility for some retail fund management business managed by Morgan Grenfell Asset Management to Frankfurt, a spokesman said. Day-to-day operations wiU remain in London whUe strategic planning and risk management will be handled in
        Bloomberg Business News  -  139 words
      • 234 10 ■Sim ria Report Reuter [SINGAPORE) Simex Euroyen and Japanese government bond (JGB) futures remained soft late yesterday after a volatile session, which saw both ends of the yield curve swing both ways. But volumes were thin and dealers said players were unwilling to take fresh positions
        Reuter  -  234 words
      • 166 10 AFP New York THE US dollar firmed against the mark and pound sterling here early yesterday and remained stable against other major currencies in a market dominated by cross-trading. Profit taking on the Swiss franc-mark and the sterlingSwiss franc parities was under way, while heavy trading between the
        AFP  -  166 words
      • 283 10 ENERGY REPORT Reuter (LONDON] Oil traders sent a simple but emphatic message yesterday to Opec ministers preparing for next week's production talks in Vienna: "Leave well alone." They say the 11 members of the Organisation of Petroleum Exporting Countries (Opec) will enjoy an unexpected
        Reuter  -  283 words
      • Article, Illustration
        1331 10 DtTBRBAMK CROSS KATBS Not 2 A$ C$ f* KV ftr 0» V Hi K WWh Pm fi Sfr WT$ MrtN— mk.i Kf v ™j ffl !5 iS£UiSS&« ttHSEM at ~m CM" 0M9 (Ml 0.094 0.6K) 0.180 0.92* 4288 2.816 ai34 0.995 0.303 0.168 4.829 1157 0.168 0.554 0.152 1303 1054
        1,331 words
    • 1843 11 S1C0M FUTURES Nov22 RUBBER (Mures dosing n <t 5.30pm) RSS1 CONTRACTS ctflts/kQ) ClOM Volume Open Mwrtfc High Low Soft (to—t) Interest Doc 96 181.00 179.00 179.00 125 550 Jan 97 183.50 182.00 182.25 525 925 Feb 97 184.00 1825 Mar 97 187.50 188.75 187.00 900 1450 Apr/Jun 97
      1,843 words
    • 2324 11 L0M10H Industrials Nact A8 Ports 280.400 -1 AOfcay National 663.400 17 Al»t»d Oomacq 442.400 1.400 Amac 97 unch A sda Croup t» -.400 BAT Ind 451.400 11.400 B1CC 282 .600 80C Croup 890 8.600 BR Patrolaum 696.400 18.400 BTB 239 -1 Bar* of Scotland 289.400 5.400 Barclay*
      2,324 words
    • 1627 11 AFP □Nikkei 225 +72.77 SHARE prices staged a late rally yesterday with the key market barometer closing 0.3 per cent higher following the release of stronger-than-expected mid-term earnings data of the telecom leader NTT. "Sentiment improved on the back of the NTT's release and the subsequent rally in its
      AFP  -  1,627 words
    • Article, Illustration
      1620 12 Bloomberg Business News AFP flHangSeng +17.23 SHARE prices rose 0.1 per cent yesterday on selective buying on conglomerates with rental office properties, dealers said. "From the point of technical analysis, the narrowing trading range indicates that a correction is on the way," said Tony Yung, research head of Tai
      Bloomberg Business News; AFP  -  1,620 words
    • Article, Illustration
      612 12 Reuter, AFP Shenzhen B Share Index +SJB SHENZHEN'S B Share Index maintained its upward trend yesterday and closed sharply higher on cautious buying ahead of the weekend, brokers said. The B Index rose 5.18 points, or 4.60 per cent, to 117.82, but turnover fell to HK5193.74 million from Thursday's
      Reuter,; AFP; Source: Credit Lyonnsis Securities(Asia) Ltd  -  612 words
    • 388 12 AFP OWFMn SHARE prices finished one per cent higher yesterday to hit a new high in 22 months as investors bought electricals and heavyweight banking issues. "Institutional investors turned to the buying side and joined retail investors to pick up lagging electrical and banking plays," said Cooper Liao of
      AFP  -  388 words
    • Article, Illustration
      770 12 AFP n Composite Index +9.87 SHARE prices closed 1.6 per cent higher yesterday in active trade on the back of a technical rebound of selective heavyweight stocks and ru-mour-driven buying of second tier stocks by local investors. "The market was hectic. Some counters rebounded on technical (reasons) but there
      AFP  -  770 words
    • Article, Illustration
      811 12 AFP HSETMex +14J6 SHARE prices closed 1.6 per cent firmer yesterday on cautious bargain hunting and speculative trading ahead of the announcement of a new economic team in the government, analysts said. "Investors remained worried over the current uncertain political situation, as the new coalition has not yet decided
      AFP  -  811 words
    • 352 12 AFP Q Manila *125 SHARE prices closed 0.1 per cent higher yesterday. "It's mainly gains in Philippine National Bank and PLDT that are keeping the market up. The other blue chips are either falling or steady," Joey Roxas of Eagle Equities Corp said. The Philippines Stock Exchange Index gained
      AFP  -  352 words
    • 385 12 AFP Q Composite Intel -1147 SHARE prices closed 1.8 per cent lower with losses across the board on a lack of fresh incentives and reports of an investigation into alleged bribery involving the president of Seoul Bank. The Composite Index closed down 13.47 points at 731.44 on volume of
      AFP  -  385 words
    • 600 12 AFP nAflOrfaariM -11 THE Australian Stock Exchange's key barometer, the All Ordinaries Index, closed 9.1 points weaker at 2,383.4 after touching an earlier morning low of 2,378.0. The All Resources Index fell 8.0 points to 1,395.8 while the All Industrials slipped 10.9 points to 3,675.9. National turnover totalled 373.40
      AFP  -  600 words
    • 265 12 AFP n Wellington -1L27 THE New Zealand Stock Exchange 40 Capital Index finished down 11.27 points at 2,352.13. Turnover on the market amounted to NZ545.6 million. ■•.a u$ room ANZ Banking -.8.80 0.10 ***** Advantaqn mkkjj 129 0.03 3400 Air Hn Zulu* (A) 2 59 -0.01 *****0 Atr N»»
      AFP  -  265 words
    • KUALA LUMPUR STOCK MARKET
      • 8326 13 AFP, AFX-Asia n Composite Index +12L24 MALAYSIA'S key stock index chalked a new year high yesterday, rising one per cent as foreign funds snapped up key blue chips while retail buyers took profits on the lesser Second Board. The Kuala Lumpur Stock Exchange's 100-share
        AFP,; AFX-Asia  -  8,326 words
    • WARRANTS & OPTIONS
      • 3751 14  -  WARRANT WATCH By, R Sivanithy A DECLARATION by the Thakral Group's chairman that construction firm Lee Kim Tah's shares are very undervalued sparked off a bit of a frenzy yesterday, so it's worth reviewing LKT's warrants to see if there's
        3,751 words
    • 2376 14 MALAYSIAN STOCKS Qf Cr 1996 Last Ml Day Last Ouota D4v D«v YM Nat MC« High Low Stno Company Ml COOP) High Law 8»y«r Saiar Or W $W 625 360 ms 5000 AISBSOc 412 cd *6 17 414 406 410 412 5.0 4.9 OJ 87 5 422.6 119
      2,376 words
    • STOCK EXCHANGE OF SINGAPORE
      • 1279 15 TURNOVER COOO) VAUK ('000) cm t—> mm at t«* 41.518 14.994 94,112 129.900 37,m *43.412 "Mnc* 7,494 4,122 ***** 79,049 1US7 44,934 Hofett 1.323 949 2492 3,719 IJ4 V337 PropwttM 11.393 134t7« 24,931 ***** 17,038 ***** Plantation 2.319 2J» 4.090 4*090 MMn* 741 741 UU U2J •LW 7,923 14,399 23,442
        1,279 words
      • 4559 15 1996 Laat VM Day La«« Ouat a 0* M* nt NM CM Am Mm> Law St No c»ma any M« COOP) High Lw Bwyar Sallar C'vr _P/f $m* Prlea INDUSTRIALS 5146 A5E NT$10 200 US- 1000 900 ASF US$0.*****. US900 MS 90.0 214 145 1258 AcarSOc USTT1 -7
        4,559 words
      • 896 15 Hta*'***, ltfto £»J Udt Owata Dk nl M Ca# Arg rajr M Camaan* »Ma *h fOOO) Hl«h Law Buytr i—t Cw P/t 5 mil Ma iCtSM 289 133 2000 AMHMasSc 182 -S 9 185 182 182 184 3.0 14} Ol nt* ana m 2049 138 "2 1011 146 1M
        896 words
      • Article, Illustration
        74 16  -  -*l Shiv Taneja IT APPEARS that the US dollar-listed Thakral Corp has seen Us glory moments above 80 US cents for the time being. Yesterday it closed at 82 US cents, down one and a half cents on a volume of 2.3 million shares traded. Further falls can
        74 words
      • 895 16  -  STOCK MARKET COMMENTARY Brokers have mixed views on how local stocks will perform next week By R Sivanithy [SINGAPORE] The local stock market yesterday failed to end the week with a flourish, after an early rise gave way to late selling pressure
        895 words
      • ON THE GRAPEVINE
        • 124 16 DRAWING on data provided by three independent sources that track equity funds invested in Asia, Salomon Brothers in its Nov 18 Weekly Pacific Perspective confirmed what BT has been reporting in its daily market report—that foreign funds have only been shifting money around regional markets in the
          124 words
        • 115 16 IT IS refreshing to meet someone who has been around long enough to witness a couple of market crashes since the *****. One portfolio strategist for a US brokerage who is in town this week to meet clients has been with the firm since
          115 words
        • 87 16 AT A seminar on corporate governance organised by an accounting firm, the talk at one table dwelt on the coming general election and the slate of new candidates introduced by the PAP. A question was raised on the conspicuous absence of accountants in the new batch which
          87 words
        • 85 16 WHERE do you go for pepper crabs? The Jumbo Seafood Pte Ltd at the UDMC Seafood Centre or another restaurant with the same Jumbo name along the East Coast Expressway? The former claims that some people are confused, so they get them to sign a
          85 words
        • 44 16 SmithKline Beech am International has just launched sugar-free lozenges here called N'ICE (which they helpfully tell us is pronounced Nice). Nice timing for the launch is what we say, given the recent bout of flu that's been doing the rounds around town.
          44 words
        • 83 16 TALKING of age and experience, some Asian ftind managers say they are disadvantaged when they go on roadshows to the West, as they are constantly being asked about their levels of experience— they all look so young, relatively speaking. However, one not so youthfUl manager wjra®i some
          83 words
  • Page 7 Advertisements
    • 5 7 Wee Pah's IPO, Pg 4
      5 words
    • 84 7 CtintOP* LEecez, Saddam! See the men behind the headlines. Don't miss Premiere 12's continuing documentary series on some of the most influential men of our times. In the upcoming episodes, Clinton, Perez and Saddam Hussein. Venture behind the headlines for riveting insiders' view of the men and their motives. Sundays
      84 words

  • Page 8 Advertisements

  • Page 9 Advertisements
    • 573 9 SINGAPORE'S "OLDEST" PERSIAN CARPET COMPANY No mystique in this magnificent investment A good Oriental carpet has a charisma which derives from an aesthetic fusion of design, artistry, technical construction, durability, symbolism, history and age. I he better the carpet the more powerful the c liarisma, and additional fac tors come
      573 words



  • Page 12 Advertisements
    • 55 12 Louis Cartier pen lacquer body. mmt 1 Hand-crafted 18 carat gold widths of m^/£ 150 YEARS OF HISTORY AND ROMANCE Ca/tier bajbque/ Singapore Millenia Walk, #01-22/23, 9 Raffles Boulevard. Tel: 339 0183 Ngee Ann City, Tower B, #01-11, 391 Orchard Road. Tel: 734 2427 Hilton International, #01-04, The Shopping Gallery,
      55 words


  • Page 14 Advertisements
    • 152 14 I StockPaae Service: m Your 24-hour "Personal" Advisor "Uve" SES KLSE Information via Jg&r I I Top-150 Volume Active Counters any telephone I I Top 15 Gainers Losers by value and Counter Name, Buy/Sell Price (Buv/Sell Volume nsMRRRIW I I Total Market Summary for KLSE only), Last Done Price, Traded
      152 words

  • Page 15 Advertisements
    • 130 15 FOUIMD SOIVIETHIIMQ? Locate its owner through Classification 821 (Found). t Simply call CA.T.S. at 1800-737-1166 for this free service. Another Classified Service A WE'RE A BANK OF KNOWLEDGE ON UNIT TRUSTS. TO LEARN MORE, JUST CALL. Investing in unit trusts is a good way to diversify your portfolio. And nowhere
      130 words

  • Page 16 Advertisements
    • 1120 16 BUSINESS \olices I" VDMIUIM I Ml KM I.! mi ■N.1.1.--H l^| IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF MCDONNELL DOUGLAS (SINGAPORE) PTE. LTD. (MEMBERS' VOLUNTARY WINDING UP) Al an KxlraoidiiMry General Meeting of the abovenamed Company deemed lo have been held on 15
      1,120 words
    • 30 16 For real- time stock information, call Quickstock on 1900-913-0003 at 30 cents a minute. Stock numbers are available in the stock pages of The Business Times and Lianhe Zaobao. 11l
      30 words
    • 103 16 THE STRAITS TIMES CLASSIFIED i YOUR GUIDE TO MORE PRODUCTS SERVICES DJT I "fr son 9'? Wi^: Kua aets Bn Asian buyer, I timing right beat a path W linl L- Jj i_j H I i M j I I fumis P rB I pflo Petysm^ r I PlilSil®! J
      103 words

  • EXECUTIVE Lifestyle
    • 2031 17  -  COVER STORY In 1989, CDL Hotels' portfolio consisted of 2,318 rooms in five hotels. Today, it is the world's 23rd largest hotel owner and operator, with over 14,000 rooms in almost 60 hotels, quakhiamowbai meets Kwek Leng Beng, the driving force behind the phenomenal growth QUAK
      2,031 words
    • STRAWS In The Wind
      • 61 17 A LOCAL drama school is offering 9chool holiday classes for students, but maybe it should go for some pamphlet writing lessons first. According to its leaflet, the classes cost $160 for "existing students". But for "non-existing students", the cost is $200. We'd like to
        61 words
      • 42 17 WHILE travelling along Thomson Road near the Thomson Medical Centre, one motorist noticed a small construction site with a hoarding that said: "Where service comes with a human touch". Guess what the project under construction was? An automated car park.
        42 words
      • 51 17 OK, who speaks English here? One shopper called a department store and asked to be put through to the lingerie department. A salesgirl picked up the phone. Shopper: Is this the lingerie depart ment? Salesgirl: Lingerie department? Shopper: Yes, where they sell bras? Salesgirl: Ah ya, that one I
        51 words
      • 34 17 AND HOW about this conversation one cafe patron had with the waitress: Patron: Do you have decaf coffee? Waitress: Decaf? Uh, what is that? Patron: Coffee with no caffeine. Waitress: What is caffeine?
        34 words
    • VIEWPOINT
      • 1915 18  -  v THE RAFFLES Conversation Eisuke Sakakibara is Japan's Mr Yen the director-general of the powerful Finance Ministry bureau that sets the country's exchange rate policy. But this straight-talking man speaks out on a lot more than just exchange rates, finance and economics, as vikramkhamma finds out
        VIKRAM KHANNA  -  1,915 words
      • 537 18 EISUKE Sakakibara is called "Mr Yen" because a lot of people believe be was instrumental in persuading US policymakers in ISM and 1986 that excessive appreciation of the yen agsinst the dollar poeed great dangers and not only to Japan and that it should not
        537 words
      • 367 18 NLY part of my outspokenness is due to H my arrogance," says Eisuke Sakakibara with a chuckle. He admits that in being outspoken, he is breaking with a long-established tradition of discretion in the Japanese bureaucracy, but that doesn't faze him. "Speaking
        367 words
    • COLLECTING
      • 1072 19  -  Wine collecting has really begun to take off in Singapore and the region in the past five years. ben MUMtOB finds out what it involves BEN MUNROE THE bad news is that all the old myths are true: dark, damp cellars are the best
        1,072 words
    • 454 20  -  CINEMA Damon Wayans and Adam Sandler take a bad shot at fame in Bulletproof By Jaime Ee BOY meets boy. Boy likes boy, brings him home to meet his mother. Boy accidentally shoots boy in the head. Boy survives, but is not happy. Boy spends rest
      454 words
    • 638 20  -  CINEMA Douglas McGrath directs a faltering student's version of the Jane Ansten novel. And Gwyneth Paltrow isn't much help in the title role By, Jaime Ee SAY "Emma". Say "Jane Austen". Say "Ouch". It's time to watch yet another adaptation of the 19th century author's
      638 words
    • 587 21  -  NIGHTSPOT Dreaming of good tapas, Sangria and a nightly fiesta by the river? Then check ont Espana for a pretty authentic Spanish experience By, A Surendren IF YOU were a homesick Spaniard wandering along the Singapore River, you could be forgiven for mistaking Espana for a mirage
      ARTHUR LEE  -  587 words
    • WHAT'S ON
      • 128 21 Singapore Symphony Orchestra Don't miss this concert in which Lan Shui makes his debut as the orchestra's new music director. Kurt Nikka nen is the guest soloist in Dvorak's Violin Concerto in A minor, Op 53. Also on the programme are Faure's Pelleas Melisande and RimskyKorsakov's Sheherazade Symphonic Suite.
        128 words
      • 74 21 Farewell To False Paradise The Goethe-Institut and Singapore Film Society will be screening films of the '80s from Nov 27-29. Farewell To False Paradise is about Elif, who has to adapt to a new life when she is imprisoned for six years for murdering her husband. Nov 28, 9pm
        74 words
      • Article, Illustration
        107 21 Broken Character Art exhibition by Stephen Leong, whose paintings are based on the calligraphic characters of happiness, sadness, anger, order and disorder. Nov 29 to Dec 1, 10am to spm daily. Venue: Exhibition Hall, Ground Level, Singapore Conference Hall. Admission is free. Objects d'Arts Stained and fused glass works
        107 words
      • 67 21  -  Compiled by M Yasotha Coping With Motherhood Various issues on pregnancy, from the time before conception to issues during the three trimesters, will be discussed. The forum will also address postnatal blues, reactions of parents to miscarriages, foetal abnormalities and premature babies. Today, 2pm at Mount Alvernia Hospital. Lecture
        67 words
    • EPICURE
      • 605 22  -  A new ribs joint has moved into the pub area of Mohamad Sultan and River Valley roads. jaime be drops in at Rednecks, where she discovers some great side dishes JAIME EE Rednecks is a dangerous label to pin on any group of people, but when it's
        CHRIS LOH  -  605 words
    • Article, Illustration
      1086 23 AH Dogi Oo To n»w 2. Charlie and Itchy are two dogs that return to heaven in this cartoon feature. Yishun: 10; 11.50; < 5.50; 7.40. Bishan; 9.50; 11.40; 1.30; 5.50; 7.40. Tiong Bahru: 10.10; 12; 1.50; 5.45; 7.30. Boon Lay: 10.10; 12; 4.10; 5.55; 7.40. GVMarina: 10.45; 12.45;2.45;
      1,086 words
    • TRAVEL
      • 1146 24  -  Among the world's great hotels, only a few have ceased to be mere hotels and have become attractions in their own right The Fujiya in Miyanoshita is easily in this league, says vxeram khanma VIKRAM KHANNA "This day bejewelled with azaleas, cherry blossoms and your
        PHOTOS BY VIKRAM KHANNA  -  1,146 words
  • Page 17 Advertisements
    • 6 17 Raffles Conversation Eisuke Sakakibara EL 2
      6 words
    • 95 17 Travel ThePujiya: a stately, historical hotel EL 8 I >i3ci.Mn I NAOQ S3OO S.IAIIXVIAi From November 25th-30th, Maxims says G'day Mate to the gourmet world down under. Come and join Serge Dansereau, Executive Chef of Sydney's famous Kable's restaurant, for a menu that throws away all the rule books. With
      95 words


  • Page 19 Advertisements

  • Page 20 Advertisements
    • 146 20 r, SINGAPORE BUSINESS To: SPH AudioTex Department Singapore Press Holdings Ltd 82. Genting Lane Singapore *****7 Tel: 740-1493 Fax 740-2216 I wish to subscribe to the Quick Stock's Portfolio Manager as follows (please tick the appropriate box; prices include GST). Subscription Period LJ 12 months f~) 6 months I 1
      146 words
    • 195 20 Opening Nov 28 jfl fc I |S| Bt wK^ H Ar y. *s> 'Ap Special Features m w^ V 9/ C* "fl/V! O e Sunday T* ,mes -1,8 &15 December A 1/ w Lianhe Zaobao -14 December Lianhe Wanbao -29 November, 11 December l S~M 1 x_. Shin Min Daily
      195 words
    • 2 20 Coming attraction
      2 words

  • Page 21 Advertisements
    • 218 21 Where to wine, dine and entertain fIIIFIFIIIPIPIIIIIMIMMIMIIMIimiIIII|| i sp-estive jl AMARA BALLROOM 1& 2 11 7.00 PM-1.00 AM jl j It's the season for merry-making again, 11 j and this year at the Amara Singapore, 11 we're throwing a fabulous party! jl j Lots of food, karaoke singing, ll j
      218 words
    • 95 21 Magical /unto coffee house WEEKEND Delight the kids with a spell bind them with MAGIC SHOW HIGH TEA J Every Sunday Adult: $12.00+++ 1.00 pm-1.30 pm Child 7.so+++ 3.30pm 4.00 pm APOLLO HOTEL SMGAPOR6 4os M/VROCK KMCX SMGVOM OJI* rn. ;jmmi •••••••••••••••••••••••A Unwind with golden huhhles at the Huhertus Grill
      95 words
    • 185 21 EVERYDAY IS HAP PY 1 X^vDAY ALL DRINKS :J Happy Hour^ Time: 3pm to 8.30pm Live performance by our resident band from 8.30pm. ROVAI &WA, CROWNC PLAZA' SINGAPOM 25 Scotts Road. Singapore *****0. Tel: (65) 737-7966 Fax: (65) 737-6646 We've Stretched Our Serving Hours for "TUN C H Cafe Plaza
      185 words
    • 166 21 Espana, 45 Boat Quay Singapore *****4, Tel: *****33 ISppT rft-Tes Tow Nw from 12 pm to spm DAILY IMon-SunV BY POPULAR DEMAND! on our spread of Pastries, Nonym Kuek, arid local favourites like Mee Siam. Laksa, Rojak, Mee Rebus and more! Adult: $12.80 (Sat. Sun A Public Holidays SI3 80)
      166 words
    • 87 21 r BiGGEST Dian Xin Restaurant At The Neptune .-.tH j on Shenton Way Dian Xin/Lunch 11(53 *"*1 M I MptUM j j 7TH FLOOR. OVERSEAS UNION HOUSE. j A Bigger Better Tunch I A MORE VARIETY EXCELLENT VALUE HK SAME OLD PRICE gSyHBfS $13.80+++ (adult) [Swijgwyg $B.oo+++(Child) Sat/Sun/Public Holidays 18
      87 words

  • Page 22 Advertisements
    • 116 22 CONTEMPORARY AMERICAN EXOTICALLY CALIFORNIAN if. (•j "r JFR r S rr?o VE SINGAPORE FRISCO COVE RESTAURANT 275 Thomson Road #01-07 NovenaVille Singapore *****5 Tel: 255 2838 Fax: 251 2838 ALL DAY DINING FRISCO LUNCHEONS AT 521.90++ classified" The one stop a o j Information centre where you can [HNj 1
      116 words
    • 9 22 Rednecks 231/233 River Valley Road Singapore *****9 Tel: 733-3634
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  • Page 23 Miscellaneous
    • 1866 23 TODAY'S TV RECOMMENDED VIEWING -St 0 corru P t QffiILOO AM TV Innovations. Jia Lln Girls'night iS o 3JO Egg vs Rock. Ollt and worse, they turn into 330 Tennis World. Xr^ d i ti .?f l^ 1 Handicrafts. little monsters 3JO Golfing World. ,nn Violent lltue monsters 4.00 Futbol
      1,866 words
    • 250 23 RADIO A Green History Of The who has much to tell. Peter Planet, BBC, Sunday, 7Jota Tinniswood's new play stars The clever apes who evolved Peter Jeffrey as Wendell on the plains of Africa are Mayhew. examined in Humankind. Pop On The Line, BBC, Short Story, BBC, Sunday, Sunday, 10.01pm
      250 words