The Business Times, 21 June 1997

Total Pages: 24
1 24 The Business Times
  • 14 1 THE BUSINESS TIMES MITA (P) 023^12/96 85t SINGAPORE Internet: http://www.asial.com.sg/biztimes WEEKEND EDITION, JUNE 21-22,1997
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  • 7 1 jMßiMgaßibSSrTlrTlTt UZStm £5 a £f
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  • 8 1 T 1 WSii»y r (Source: NatWest Bank)
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  • 695 1  -  Officials skirt issue of whether SIA will eventually buy stake in Ansett From Felix Chan in Melbourne SINGAPORE Airlines yesterday forged a commercial alliance with Ansett and Air New Zealand in what industry observers said could be a possible assault on the
    AFP  -  695 words
  • 475 1  -  Chief exec in relaxed mood 9 days before territory returns to Chinese fold From. Loh Hui Yin in Hongkong HONGKONG will need to move its economy "upscale rapidly" if it is to remain vibrant and competitive, said Tung Chee-hwa, who will assume
    475 words
  • 558 1  -  It's mi aberration, say some economists; key chip, diik drive shipments stay strong By Audrey Tan [SINGAPORE] After recovering strongly in April, Singapore's non-oil domestic exports fell below expectations in May, shrinking one per cent year-on-year. The poor trade numbers came as a
    558 words
  • Page 1 Advertisements
    • 19 1 mm fl *^H ymm aOOO>, a fortune IMMJ® 86oijSP6i l 6 hiw C. >» S .A £T jviLc^ 4^ C&PANffiS''.*.^8
      19 words
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      84 words

  • FOCUS: PERSONAL FINANCE & INVESTMENT
    • BULL'S EYE
      • 677 2 *B|)pj|NfnbMriP"' ♦Buy—BZW-Paciflc Union, June 19, $3.84 Having come off from the year's high of $5.30 in February, the shares are now trading at an 18 per cent discount to book NAV, and a 26 per cent discount to appraised NAV. PERs are also attractive at 19 times
        Figures denote number of respondents  -  677 words
      • Article, Illustration
        392 2  -  Tan Choon Hoe Tan Choon Hoe, director, John Govett (Asia) Ltd U\\T HICH Singapore 1/1/ stock has risen alv T most eight times since its listing 26 months ago and still features on many brokers' buy recommendatiops? Sounds too good to bp true? Datacraft Asia, the specialist
        392 words
    • 904 2  -  Singaporeans' passion for cars has not crossed over to auto stocks By\ Christopher Tan [SINGAPORE] NO doubt about it, Singaporeans love cars. The statistics are clear. High ownership despite ridiculous costs. Constricted market, yet every major brand with a right-hand version is sold here.
      904 words
    • 662 2  -  But doot expect China red drip to post glowing earning! growth right away Byi Annette Pau [SINGAPORE] Shares in Tianjin Zhongxin Pharmaceutical Group Corp (TZXP) —the first Chinese red chip to seek a listing on the SES mainboard look set to
      662 words
    • 665 2  -  HTB O*IBB IMHOK INDONESIA Past the 700-point threshold, market outlook is mixed From I S N Vasuki in Jakarta THE Jakarta Stock Exchange Composite Index breached the psychological 700-point barrier this week, boosted by strong buying from foreign and local investors. However,
      Source: Bloomberg  -  665 words
    • 443 2 Bloomberg [LONDON] With just days to go before Hongkong returns to China, Ashok Shah is putting the final touches to his portfolio to take it into a new era. One poser is whether his Old Mutual Hong Kong Trust (OMHKT) will
      Bloomberg  -  443 words

  • SINGAPORE AT HOME & ABROAD
    • 412 3  -  fcpiratehdp CMfutemtto neUm kaffactfolf By\ David Boey THE National Computer Board (NCB) yesterday launched a project called "Quick Start Environment" to help companies and organisations get a jump on Singapore ONE, the new national broadDana neiworK. "We recognise that getting aboard Singapore
      STEPHANIE YEOW/ST  -  412 words
    • 298 3  -  HMtttrCu i i,¥isa sign pact for access to 11,000 tormiaals By Clarissa Tan OVERSEAS holders of two international debit cards MasterCard's Maestro and Visa's Interlink will soon be able to use them to buy goods through Nets when they shop here. Officials
      298 words
    • 539 3  -  QffkfoJ Affirif t f'ff eflbrts also toot MBtor discharges Siow Li Sen MORE bankrupts an setting discharged, thanks not only to g wla eft* Is by the Official flwlgnim but also the Jump in HUB property prices in recent
      539 words
    • 306 3  -  By Clarissa Tan SINGAPORE Power International (SPI), a subsidiary of Singapore Power (SP), has formed a Joint venture with gas and electricity giant Enron International to develop small-scale power projects In China Singapore Power yesterday said the 50-50 Joint venture
      FILE PHOTO  -  306 words
    • 162 3 The Straits Times REGISTERING Internet web site names In Singapore will now be easier. The National Computer Board (NCB) is relaxing restrictions governing the process. It will, however, start charging registration fees. NCB said yesterday a nonprofit company was being set up to take
      The Straits Times  -  162 words
    • 63 3 BUDGET Day this year will be on Friday, July 11, the Clerk of Parliament said in a statement yesterday. Following the delivery of the FY 97 financial statement by Finance Minister Richard Hu, Parliament will be adjourned until Monday, July 21 when debate on the Budget begins.
      63 words
    • 199 3 LAWYERS acting for the own ers of Searock Hotel in Bombay have clarified that the Royal brothers. Raj and Asok Kumar, have never had any legal or beneficial interest in the hotel. The hotel is wholly owned by ELEL Hotels Investment Ltd, they said. Harry
      199 words
  • Page 3 Advertisements

  • REGION
    • 596 4  -  BANGKOK By, Alan Boyd A LITTLE-KNOWN banker was appointed Thailand's new finance minister last night after most of the leading contenders yesterday turned their backs on the strlfe-rid-den government. Thai Military Bank (TMB) president Thanong Bhidaya will succeed Amnuay Vlrawan, whose sudden
      596 words
    • 365 4  -  SINGAPORE Sentiment improves appiintment of new finance minister By) Larry Wee THAI financial markets were calmer going into the weekend yesterday with news that Prime Minister Chavalit •TTongchaiyudh has chosen (Thai Military Bank president Thanong Bidaya as the counC's new finance minister. The baht was
      Source: Reuters  -  365 words
    • 210 4 MANILA AFX-Asia, Bloomberg ItHE Trade and Industry Department said investments ap- < proved by Philippine governintent agencies in the five jnonths to May totalled 271.12 billion pesos (5114.6 billion). The department did not J give comparative figures. Among the agencies, the Board of Investments
      AFX-Asia,; Bloomberg  -  210 words
    • 339 4 PHNOM PENH Bat Cambodian ministry aNrcMiaythqr can't confirm it AFP, Reuter NOTORIOUS Khmer Rouge leader Pol Pot has been captured by renegade guerillas formerly loyal to him, the rebels' clandestine radio station announced yesterday. "Pol Pot was captured on June 19,
      AFP,; Reuter  -  339 words
    • 278 4 HONGKONG AFP HONGKONG Democratic Party chairman Martin Lee announced yesterday that his party would contest the first legislative elections after the territory's return to China. The Provisional Legislature, an appointed body set up by China to replace the elected Legislative Council after July 1,
      AFP  -  278 words
    • 523 4  -  HONGKONG By Quak Hiang Whai THE Hongkong bourse celebrated the return-to-China party 10 days ahead when it extended Thursday's gain with a huge volume yesterday which shattered both benchmark index and daily turnover records. Backed by feverish buying from mainland and foreign
      AFP; Source: Bloomberg  -  523 words
    • 304 4 KUALA LUMPUR AFP MALAYSIA'S Deputy Prime Minister Anwar Ibrahim in reports yesterday allayed investors' fears of a weakening in the ringgit following the baht crisis in neighbouring Thailand. Mr Anwar, who is also "Finance Minister, said the effett of the baht's slide on the
      AFP  -  304 words
    • 1279 4 CITY flKHT ETA FU6HT ETD MUM 0T81 1930 0f82 2055 N|i|ilu S080I9 2120 _«W0 1020 S0229 2220 NmmI VM7-41 1310 S0176 1105 immm RJI87 0130 SOI7f5 <40 WI740 VOO Aastariaai K1843 0455 KL838 2300 NftYM "W3 1415 T6408 0820 0125 0655 SO346 2330 Zgjffl 2105 I8894J040
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    • 425 5  -  BOMBAY Yogi Aggarwal 11 AN INCREASE in foreign inn vestor interest has created a h surge in the Indian stock mar'ket with the Bombay Stock Ex--4/dttßge Sensitive Index for 30 scrips (BSE Sensex) rising by about 11 per cent in the past
      Source: Bloomberg  -  425 words
    • 45 5 [TOKYO] An elementary school pupil dancing in a storm on the way home from her school, which was closed early following typhoon warnings yesterday. One person was killed and two are missing as Typhoon Opal lashed areas of eastern Japan. AFP
      AFP  -  45 words
    • 372 5 TOKYO Tankan survey to show do economic recovery until autumn at earliest Bloomberg JAPAN'S diffusion index fell in April, reflecting a pessimistic economic outlook for the next three months, said the Economic Planning Agency. The leading diffusion index of indicators for April declined
      Bloomberg; Source: Bloomberg  -  372 words
    • 395 5 MTOKYO Big Bang reforms forcing sector to spruce np services Reuter JAPAN'S local banks will increasingly join hands with foreign banks in business alliances as "Big Bang" reforms force the sector to spruce up financial services, says the head of a
      Reuter  -  395 words
    • 140 5 PATNA, INDIA Reuter AN Indian minister resigned yesterday as shock waves from a US$29O million (Ss4oo million) corruption scandal spread to Prime Minister Inder Kumar Gujral's two-month-old government Junior Rural Areas and Employment Minister Chandradeo Prasad Varma said he was innocent but had decided
      Reuter  -  140 words
    • 255 5 UAUCKLAND Reuter NEW ZEALAND Treasurer Winston Peters yesterday began preparing the financial sector for a worse-than-expec-ted fiscal outlook in next week's budget and both bond and bill markets largely took it in their stride. For the second day in a row, Mr Peters signalled
      Reuter  -  255 words
    • 276 5 BEIJING It says US-Japan pact has lost validity in post-Gold War era AFP THE Chinese army's general chief of staff has issued a clear warning to Japan to tread extremely carefully with plans to strengthen its military alliance with the United States.
      AFP  -  276 words
    • 350 5 TOKYO Bloomberg POLICE may soon arrest the former chairman of Dai-Ichi Kangyo Bank Ltd on suspicion he approved of illegal payoffs to racketeers, the Nihon Kei zai newspaper reported without citing sources. The report said police may soon bring in Tadashi
      Bloomberg  -  350 words

  • Page 5 Advertisements
    • 152 5 For in-depth reporting on Hong Kong's handover to China, the history behind it and what the future holds, tune into CNN International. Studying the issues and talking to the people involved, CNN's Hong Kong bureau chief Mike Chinoy and the World News Asia team will continue to follow the story
      152 words

  • THE WORLD
    • 219 6 NEW YORK FT THE RETREAT by US telephone companies from providing video and other services that rely on new broadband networks continued on Thursday as SBC Communications, the country's biggest local telecoms company, revealed a US$5OO million (Ss7lo million) withdrawal. The move came as the
      FT  -  219 words
    • 449 6 DENVER Initial focus on competition policy, distribution, transparency Bloomberg US PRESIDENT BUI Clinton said on Thursday he and Japanese Prime Minister Ryutaro Hashimoto agreed on new steps to give the US more say in the way Japan deregulates its markets and opens
      Bloomberg; AFP  -  449 words
    • 512 6  -  LONDON By] Neil Behrmann WILLIAM Hague, the youngest Conservative Party leader in more than 200 years, wants to heal the party's bitter divisions and rescue the party from political oblivion. But even the Tory press concedes that this will be a tall order.
      512 words
    • 754 6  -  EUROPEAN VIEW Rhetoric-reality gap In Israel; foreign policy consolation in Turkey By Kevin Sullivan 7%e writer is a Spain-based journalist who contributes to BT ISRAELI Prime Minister Benjamin Netanyahu raised a cabinet storm this week as he finally wrested serious concessions on economic liberalisation
      754 words
    • 106 6 PRAGUE Reuter BUNDESBANK president Hans Tietmeyer yesterday warned that fixed exchange rates between nations lacking sufficient convergence would be both dangerous and counterproductive. Speaking about globalisation, Mr Tietmeyer said such developments were important and gaining momentum, but stressed "fixed exchange rates with insufficient convergence would be
      Reuter  -  106 words
    • 404 6 WASHINGTON Bloomberg THE US Senate Finance Committee took another step on Thursday night in the congressional drive to cut taxes by US$B5 billion (Ssl2l billion) over the next five years. The plan is similar to a tax package approved last week by
      Bloomberg  -  404 words
    • 250 6 LONDON Penniless activists ordered to pay burger chain £60,000 Reuter AFTER the longest trial in English legal history, two penniless activists were found guilty of libelling hamburger giant McDonald's and ordered to pay £60,000 (S$141,000) in damages on Thursday. The judge found that statements in
      Reuter  -  250 words
  • Page 6 Miscellaneous
    • 458 6 UEVPI'IU CROSSWORD '>▼>• I MMOfin —j K g —fj —i u -g—WKKKM 1 A couple of gasps at the 7 Left man some cotton yarn 8 Long-established procedure, MM MH Hj fIH surprisingly rationed it, no 10 Conductor Rome's frolic in an American state (7) LjHT Mb" 12 A way
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  • COMPANIES & MARKETS
    • 316 7  -  WBL's 39% (take in Advanced Research to yield USs32.7m gain By, Jennifer Lien [SINGAPORE] Fortune 500 company Gateway 2000 is launching a US$l94 million (*****.4 million) takeover of Advanced Logic Research with the purchase of WBL Corp's stake in the company.
      316 words
    • 428 7  -  Takeover may be brewing at Sesdaq company By' Tan Su Yen [SINGAPORE] A takeover could be brewing at Sesdaqlisted Ho Wah Genting International (HWGI) as more substantial shareholders pull out of the company. Tan Koo Chuan and Tan Chong Yong
      428 words
    • 658 7  -  HOCK LOCK SIEW Loh Hui Yin THEY all agree that the swinging "red chip party" on the Hongkong bourse, driven by a river of funds from the mainland, will continue for a while after the return of the colony
      658 words
    • 188 7 [SINGAPORE] Courts Singapore yesterday proposed a one-for-two bonus issue and announced a surge in business for the year ended March 31. The home furnishing retailer achieved earnings of $13.37 million, up 2.43 per cent, while turnover rose 27.7 per cent to $156.3 million. The performance
      188 words
    • 434 7  -  BRIGHT SPOTS ON RETAIL SCENE Company attributes better ranks to new merchandising strategy, cost control, improved margins By, Jenny Lam ISETAN Singapore, the first major listed retailer to report full-year results, yesterday announced a near trebling of its net profit to $5.95 million. The group's
      FILE PICTURE  -  434 words
    • 98 7 [SINGAPORE] Property developer Bukit Sembawang Estates reported an impressive rise in group net earnings of 125 per cent to $33.1 million for the year ended March 31. Turnover rose 140 per cent to $69.7 million, while earnings per share more than doubled to 137.95
      98 words
    • REGIONAL COMPANIES
      • 442 8  -  But analysts see slower growth next year due to stronger yen, extra capacity From Eddie Toh in Kuala Lumpur MALAYSIAN national car maker Perusahaan Otomobil Naslonal Bhd (Proton) has more than doubled its earnings due to higher vehicle sales and a weaker
        442 words
      • 179 8 Turnaround from $4J>sm loss doe to cost-saving measures (SINGAPORE] Sesdaq-listed Giken Sakata has edged back into the black with a net profit of $26,000 for the year ended March, against a loss of $4.55 million previously. However, turnover fell 19.3 per cent to $283.4
        179 words
      • 310 8  -  By\ R Sivanithy [SINGAPORE] The meltdown in infrastructure stock Van Der Horst continued after a brief morning respite yesterday, following more negative rumours which included an impending suspension. Brokers, however, noted that the volume done indicated that the counter could have been
        Source: Bloomberg  -  310 words
      • COMPANY Briefs
        • 81 8 [SINGAPORE] Two units of Eng Kong Holdings, Appiegold Investments and Smartz, have agreed to buy property and equipment from A-Tech Engineering. Applegold willbiqra leasehold property and building at Pandan Loop for $684,000, which may be adjusted after valuation. Smarts will buy machinery, equipment,
          81 words
        • 67 8 [SINGAPORE] Zagro Asia's unit, Zagro Newco, is buying* 65 per cent stake in Pakistan's National Pesticide Corporation (NPC). The 33,800 NPC shares cost 500,000 rupees (5516,500). The deal has yet to be approved by the authorities. It is not expected to
          67 words
        • 72 8 AFX-Asia IMAM ILAj Metro corp said it bought the 16 per cant Interest of the Filinvest Group In Bonifacio Land Corp for 5.36 billion peeos (S|2B9 million). Metro Pacific chief executive officer Napoleon Naxareno said financing for the transaction will be through a
          AFX-Asia  -  72 words
        • 75 8 Bernama [PENANG] Chilled and frozen foods distributor Rex Industry Bhd forecasts a 50 per cent growth in sales from its food canning and freezing factory in Shantou, China in its first threeyears of operations, managing 4tr*ctor Lea Hee Thiam said yesterday. He said
          Bernama  -  75 words
        • 61 8 Bernama [KUALA LUMPUR] Len Cheong Holding Bhd, a ftirniture maker, ended trading day yesterday on the Second Board of the Kuala Lumpur Stock Exchange at MJ6.70, posting a M 54.70 premium over its offer price. Len Cheong endedtheday with 6.734 million shares changing hands
          Bernama  -  61 words
        • 55 8 Bernama [KUALA LUMPUR] MunLoong Bhd will sell its entire stake in Mun Loong-Hankyu Jays Sdn Bhd sited at Ampark Park for M 119.07 million (B*lo.B million) in cash to Softrfcne Sdn Bhd. The deal is a move to shift its core retail
          Bernama  -  55 words
      • 202 8 Shiprepair business helps lift earnings amid fall in turnover SINGAPORE] Shipbuilder and repairer Hitachi Zosen Singapore Limited managed a 14.3 per cent increase in net profit to $7.6 million in its last financial year despite shrinking revenues. Turnover for the year ended March 31 fell
        202 words
      • 230 8 Bernama [ifANILA] Malaysian developer Pelangi Bhd, buoyed by the Philippines' surging demand for housing, is putting up a 1,400 ha residential complex, its initial foray in the country's property market. Billed as the largest community nearest Makati, the Philippines' "Wall Street", the project is
        Bernama  -  230 words
      • 199 8 [SINGAPORE] Sesdaq-listed Stamford Tyres' Jurong warehouse with inventory worth an estimated $20 million went up in flames yesterday. Stamford Tyres last night issued a statement to the stock exchange saying it is making immediate plans to resume business as soon as
        ARTHUR LEE  -  199 words
      • 305 8 Reuter [SYDNEY] Australian investors, angry at what they see as an unfair deal to merge nickel producer QNI Ltd with Gencor Ltd's nickel division, could scuttle the A 52.3 billion (552.5 billion) deal at a shareholders meeting, analysts said yesterday. "We came back from their
        Reuter  -  305 words
      • 234 8 Bloomberg [KUALA LUMPUR] Technology Resources Industries Bhd, Malaysia's largest cellular phone operator, said it is in talks to buy a stake in a satellite communications company. The Malaysian company, 21 per cent owned by Deutsche Telekom AG, agreed last October to market services
        Bloomberg  -  234 words
      • 175 8 Reuter [SHANGHAI] China's stagnant B share stock markets are losing their appeal for domestic firms, many of which now see Hongkong's more liquid bourse as a better way of raising foreign funds, analysts said yesterday. Domestic currency A shares, with
        Reuter  -  175 words
    • INTERNATIONAL COMPANIES
      • 440 9 Spending on now factory equipment frozen? internal Bloomberg [AUBURN HILLS, Michigan] Chrysler Corp wants to trim US$l billion (Ssl.4 billion) from its capital spending, which runs between US$4 billion and US$5 billion a year, according to an internal memo reported in the
        Bloomberg  -  440 words
      • 262 9 Bloomberg (NEW YORK] Microsoft Corp's fiscal fourth-quarter earnings are likely to meet estimates, a change from the two previous quarters when the software giant's results far surpassed expectations, Goldman, Sachs Co analyst Rick Sherlund said. The biggest maker of personal computer software
        Bloomberg  -  262 words
      • 313 9 Black went raise his Cs923m bid despite shareholder criticism Bloomberg [TORONTO] Publishing group Hollinger Inc won't raise its C 5923 million (Ss9so million) offer for Southam Inc and the newspaper chain's disgruntled minority shareholders can keep their shares, chairman and chief executive Conrad Black said.
        Bloomberg  -  313 words
      • 399 9 Reuter [SANTA ANA, California] Merrill Lynch Co agreed on Thursday to pay US$3O million (5542.8 million) to settle a year investigation by the Orange County district attorney into the county's 1994 bankruptcy debacle. The record settlement marked the end of
        Reuter  -  399 words
      • 130 9 AFP [IRVING, Texas] Exxon is appealing court-imposed damages of USSS billion (Ss7.l billion) for the Exxon Valdex oil spill off Alaska in 1989. "Exxon has consistently maintained that the punitive damages in this case are unwarranted and excessive. We believe that this judgment
        AFP  -  130 words
    • SHIPS IN PORT
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        481 words
      • 1179 9 RECEIVING OF EXPORT FCL CONTAINERS AND La CARGO Mh|/Mn Mb snip Hf h OWHr NrM FW Tl Fw to Apfkft ttM 2MNI W N/HOO WOC 21 2Q/T700 ZVWI ZV9900 *a Lata MM 2VDM H MM MgMJ lywo 4 m tvvSt ami Afti IhMi UK DttM IK M/1SOC H&A4W
        1,179 words
    • FINANCE & COMMODITIES
      • 455 10 Dollar preferred doe to worry that weak euro will reduce returns on euro bonds FT [LONDON] The volume of international bonds issued in US dollars hit a weekly record on Thursday as worries over European monetary union persuaded investors to shirk Europe's
        FT  -  455 words
      • 115 10 Bloomberg [BUENOS AIRES] Citicorp said it wUI buy out its partner in Siembra, one of Argentina's biggest pension fund managers, for between US$23O million (***** million) and US$25O million. The purchase of the remaining 51 per cent of the ftind from Banco Rio de la
        Bloomberg  -  115 words
      • 426 10 USt/aurk: The US dollar traded within the range of 1.7215 to 1.7393 for the first four days of the week and was trading at the 1.7230 level yesterday morning. The technical picture is not clear at the moment, with the unit confined within the range of
        Source: DBS Bank  -  426 words
      • 443 10 New firm to be set up to take over failed company's policies Bloomberg (TOKYO! The Japanese life insurance association said yesterday it plans to contribute 200 bUlion yen (552.5 bUlion) to baU out Nissan Mutual Life Insurance Co, Japan's first life insurance company
        Bloomberg  -  443 words
      • 189 10 AFP [TOKYO] Japan's 10 major commercial banks will launch an electronic money trial next year Jointly with some 60 regional banks and Nippon Telegraph and Telephone Corp (NTT), a report said yesterday. The project aims to enable 100,000 people to use integrated circuit
        AFP  -  189 words
      • 252 10 ENERGY REPORT Reuter (LONDON] A sharp slide in oil prices this year should concentrate Opec minds when ministers gather in Vienna next week for production talks but traders expect few surprises and see further weakness whatever the outcome. Global inventories of crude and
        Reuter  -  252 words
      • 188 10  -  MSCITAIW AM FUTURES By Perry Gilbert By Perry Gilbert, vice-presi-dent, Refco Singapore Pte Ltd [SINGAPORE] After a slow start in the Simex MSCI Taiwan Index futures, buyers tightened their grip oif the market when the discount widened to 8.5 points as the cash market
        188 words
      • 234 10 Bloomberg [NEW YORK] The boards of the Coffee, Sugar Cocoa Exchange and the New York Cotton Exchange said yesterday that they have agreed to discuss a merger. The chairmen and presidents of the two New Yorkbased exchanges were instructed to develop a proposal for
        Bloomberg  -  234 words
      • Article, Illustration
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        660 words
      • 270 10 Reuter, AFP THE US dollar was steady against the yen with the spotlight on trade relations between the US and Japan as leaders and finance ministers from the Group of Seven leading industrial nations gathered for a three-day summit. Concern that Japan's widening trade surpluses would become a
        Reuter,; AFP  -  270 words
    • 1433 11 SIOOMFUTUKBB Jun20 .JIM. I i RUHCt Mvrai m H Utpti RSS1C0NTIACT($cwtiA«) OW Mm OpM Mt> W» I— Utt (I—») Ifrwt J* *7 150.00 520 AM| 97 03.25 ***** 153.00 200 1770 Sop 97 157.00 157.00 8129 100 IMS Oct/Dtc 97 199.00 61.50 87.79 1050 3750 Ja4ttar98 160.00 *0.00
      1,433 words
    • 1596 11 AFP Qffikttus -ma SHARE prices closed lower yesterday, pressured by moderate selling throughout the day, with buyers sidelined ahead of a major summit in Denver this weekend. Brokers said activity slowed towards the close, with investors sidelined ahead of the summit of the Group of Seven industrialised nations and
      AFP  -  1,596 words
    • 1965 11 Jilt tma *h 31 Group 505.400 -3 AB Ports 270.400 *1.400 Atfeey National 805.400 -26.600 AHid Pomocg 421 -4 Amec 144.400 1.400 Asda Group 120 -.400 BATM 509 25 BG Pic 218 v400 BICC 180 -1.400 BOC Group 1055.400 -12.600 Bft Petroleum 711.400 -12.600 BTR 202.400 -2
      1,965 words
    • Article, Illustration
      1525 12 Bloomberg Han* Seng +447.87 HONGKONG stocks had their best day in more than two years yesterday as Hang Seng Bank soared to a record on speculation Chinese interests will buy a stake in the bank. HSBC Holdings said it has no intention of selling any of its 61.5 per
      Bloomberg  -  1,525 words
    • Article, Illustration
      622 12 Renter nUaAaBMn *152 SHENZHEN'S A shares powered ahead 6.7 per cent yesterday, pushed up by a surge in market giant Shenzhen Development Bank and by investor optimism in the last week before the return of Hongkong to China. The bullish A share market also helped drag the B Share
      Renter; Source: Credit Lyonnsis Securities(Asia) Ltd  -  622 words
    • 338 12 AFP QWPUsz A FLOW of capital into the Taiwan bourse pushed share prices to a seven-year closing high yesterday, with the index jumping 2.8 per cent. "The market started with heavy gains thanks to a strong show by UMC, and the financial sector followed to sustain the buying momentum
      AFP  -  338 words
    • 264 12 Reuter H Wellington jjjj SHARE prices closed on a positive note yesterday, helped by another good performance in the forestry and paper sector. At the finish, the NZSE-40 Capital Index was up 16.10 points at 2,423.60. Reuter jm» i *t- mm AN2 Banking 10.70 0 JO ***** Atfvantagaf HMqs
      Reuter  -  264 words
    • Article, Illustration
      796 12 AFP H SET Mat ♦lß.tf SHARE prices surged 3.3 per cent yesterday on news that a technically-competent banker would be named to replace former finance minister Amnuay Virawan, analysts said. "Investors now believe that both monetary and fiscal policies will continue on the same right track established by Virawan
      AFP  -  796 words
    • 406 12 AFP Ejn—-0.73 SHARE prices eased yesterday, with declines in heavyweight stocks offsetting gains in second liners. Dealers said the market attempted a rebound after two days of falls and traded in positive territory through the morning before succumbing to falls in brokerages and core blue chips. The Composite Index
      AFP  -  406 words
    • 580 12 AFP QUMw^JU SHARE prices rose yesterday to their second consecutive record close on support from overseas buyers. "The market was strong on the back of New York and we are expecting the Dow to be up again tonight," a dealer said. The All Ordinaries Index rose 19.3 points to
      AFP  -  580 words
    • Article, Illustration
      674 12 AFP Q Composite big +3.77 SHARES closed higher yesterday as gains in selected major stocks outweighed profit taking on some second liners. A dealer said the index managed to rally on sharp gains in heavyweights such as Bank Dagang Nasional Indonesia (BDNI). "I guess BDNI is boosted by certain
      AFP  -  674 words
    • 309 12 AFP Dltaflt -MM SHARE prices fell 0.8 per cent yesterday as investors locked away profit amid volatile trade on the peso. The PSE Composite Index lost 24.24 points at 2,881.73. Turnover was 5.7 billion shares worth 3.2 billion pesos. Philippine Long Distance Telephone closed unchanged at 850 pesos but
      AFP  -  309 words
    • KUALA LUMPUR STOCK MARKET
      • 288 13 AFX-Asia HOiliriluMn «MI SHARE prices closed marginally higher in quiet trade yesterday, led by interest in Proton and Tenaga Nasional, dealers said. The KLSE Composite Index closed up 0.06 points at 1,097.54 on turnover 0f224.82 million shares valued at M 51.76 billion. The Emas
        AFX-Asia  -  288 words
      • 7268 13 Lwt M Mat Cap HM» U» Clim UH -000 HW HI W N 7M SM AJtnomoto «00 20 I 100 HO 1U 243.2 293 Anghesa 312 I N 38 X2 9.3 4*0.0 •OS M0 Apo«o Food Htq TOO -30 30 T40 700 280 0 428 189 Beriayalnd 242 -4 1724
        7,268 words
    • WARRANTS & OPTIONS
      • 155 14  -  WARRANT WATCH By R Sivanithy HAI SUN HUP'S new warrant has stood up reasonably well in the face of recent weakness in the broad market, so although we've featured it already, a review is perhaps called for. The instrument expires only in
        155 words
      • 2397 14 UM _JN( Day LaMOaaM Av« «M Cnw Sal* «4f roooi M* Lot Ovyar M» Mn 443» 3000 aiAM00c33«0202M 47 -I 3 47 47 45 47 *5 **wrW0WT3IUS$ 90 -23 T7 34 SO 30 55 JJ3 3M4 AcmiWW0724 703 i.5 30 79 703 703 79 73 n M Ml AITach M0I0007
        2,397 words
    • 1430 14 --u. a i ct rs ssr "J 5?i2L"L 22° jw mo n m iuo u as iu iot.7 2 A—OlOc M 40 U U »4 Ml 2K> IP MSSOQ2 Mrw IN< 41 nj —ii J2 "JHJSfSJSr 2 i W IM W IU If O IT J (MM 247
      1,430 words
    • STOCK EXCHANGE OF SINGAPORE
      • 700 15 Pwj mm ttjg ■JJW ypg 3 S -si te, 1 n i H tW £F- J J J MM 1 i jgft. t 1 *8 3 «8 'S 8 ttflte Mu mm QM§ CkHMt Tuft. ,ggJgp :|2§ oon 8mm !mS tS 0002 Emm S5 i» JEirmlp Mil 204.99 -t» IdBcMaki
        700 words
      • 4858 15 f. «r 6r M art 1, nrr Latt vtt oty upoow* oo* oo» rm it* cm *5 tfci U. 6I66P C.npwy M. COOO HOpn Lp» rtf 9t8tc C*r Pit jm* Prte. SMC A9C667$»200 US- mc MS 1275 ASF USfc KX) U$6SS |H 88.5 203 85 1256 ZZTusiw uneh
        4,858 words
      • 956 15 1997 Lmt yrn Ony UatOwt* Ik W M Cm Av* M0 I—I WW* Ci—ny toH rooo) >—I U» 9r*r Cw w $5 Prtcn w* r» »■>-: }»**<#.&<: 196 76 2000 AMHMnSc tic* -7 269 *7 76 AS IU M U U OOjO 403 99 290 M4 2049 AS Auto
        956 words
      • Article, Illustration
        67 16  -  1 Ven Sreenivasan VAN DER HORST. which has been driven a spate of negative rumours, is deep in ova Mid territory, according to the weekly ana monthly RSI. Nevertheless, the momentum of the current decline is unlikely to ease anytime soon. The counter looks set to creep along
        67 words
      • 192 16 a«* w VantorHont 18,770,000 H* LaadUSIOc 6,098,000 TACH0200 2,810.000 EwalZOc *557,000 rrtinwiiinti 2,210,000 UracoNMplOc 2.M0.000 HTPMWgs50c 2,113.000 mi *****00 MOM. US5c c 1802.000 UOOForeip 1.743.000 Vanfcr Hoot. 45.I02.W0 UOB Foreign 25*21,881 FM 19.4H00< HK Land USIOc 17,226.330 OCBC Foreign *849,102 SIA Foreign 12.645^40 TACin0200 IMJH 0U8 Foreign 11,*****0 DBS Foreign
        192 words
      • 675 16  -  STOOK MARKET COMMENTARY HE'S Incredible ran also diverting money from local bonne, leaving a few counters to soak np whatever's left By R Sivanithy [SINGAPORE] The local stock market ended yet another mixed session yesterday with the Straits Times Industrials Index regaining the
        675 words
      • ON THE GRAPEVINE
        • 146 16 POOR profits, loss of contracts and an lmpendingshare suspension—these were just some of the unsubstantiated rumours that swirled around Van Der Worst's Shares on their massive 36-cent, or 14 per cent, plunge to $2L22 yesterday. But few have considered one other alternative—that the stock is being "bear raided"
          146 words
        • 111 16 THIS will teach all analysts to fax in their replies to company visits quickly and not dither and expect to be allowed ih the toor without an invitation. Apparently mainboard-listed PC maker Acer Computer International yesterday hoeted a tea session for 12 analysts. And
          111 words
        • 172 16 ALMOST a year after Berger International was acquired by Arixa Holdings, a group owned by aome Malaysian busineaamen linked to Renong and Hicom, the scenario at the company's helm remains as fluid as ever. In February, Edward Cowie, a veteran with some 20 years
          172 words
        • 74 16 WE THOUGHT we had heard every sort of analysts' recommendation in the book (and they are getting pretty creative), but here's what has to be a rather novel addition to the list Summit Securities recently revised its recommendation for Asia Pacific Breweries" from a "Hold" to "Fully
          74 words
        • 76 16 A RECENT report cm Thailand from 11 Morgan Stanley caught our eye—not Hot anything in the report per jebut on the tab authors ofthe report. One of the analysts had a telephone number agrinst hie name, white the other only had an e-mail
          76 words
        • 62 16 AND the award for Best Door Gift for the First Half-Year goes t0... Dutch bank ABN Amro, which gave away binoculars at the opening of its regional office recently. The,, binoculars are powerful, compact and in snany ABN Amro yellow and green. But what
          62 words
  • Page 7 Advertisements
    • 45 7 l I jf fj j Ili I Available at I Newsstands NTUC Supermarkets Caltex Published by Times Periodic*, member of I STOP PRESS kiosks 7 Eleven Mobil I Times the Bookshop Cold Storage SPC Singapore I Kinokuniya Shell •BP Press I mph esso VIV Holdings
      45 words

  • Page 8 Advertisements
    • 234 8 </> WITH A DIFFERENCE W»odualy measured our rooms 0 ond discovered fhot ours art O one of the mast spacious you'l getat Ss//9*! lb make iron even belter offer, we compfiment it with: CO Welcome Orink 9 Coftee/leo making focfties CP m 24 Hows vidto Newspapei Swimming Pod usage Subject
      234 words




  • Page 12 Advertisements
    • 31 12 For real-time stock information, f Scall Quickstock on 1900-913-0003 at 30 cents a minute. f Stock numbers are available in the stock pages of The Business Times and Lianhe Zaobao. j
      31 words


  • Page 14 Advertisements
    • 62 14 Sd.Agar* DICKSON WATCH 6-JEWELLERY(S) PTE LTD 111 n CHOPARD BOUTIQUE: WISMA ATRIA 43S Orchard Road #02-» Singapore *****7 J //^W\ OA T«t *****61. DICKSON WATCH JEWELLERY: THE PROMBMDE 300 Orchard Road #01-08 SioQapora 23M1 Tat *****00. CENTREPOINT 170 Orchard Road #lI4|N Singoporo *****3 Vfl Tot *****22. SUNTEC CITY MALL-3Tan»aaafcßoMlavard #01-001/008
      62 words

  • Page 15 Advertisements
    • 93 15 Our auto listings won't steer you 0 The Straits Times j (MM for the best I vTT wrong! deebonwiheeis. I M I f* These and other corporate milestones present perfect opportunities to O to the enhance your corporate image with a self-funding special feature in our i Occasio I on
      93 words

  • Page 16 Advertisements
    • 724 16 BUSINESS Notices To advertise call toll-free 1800-*****83 FREIGHT UNKS EXPRESS HOLDINGS LIMITED /Iwiuo*! II I«> it kk ail II _n_# ftii raannra^ (incorporaxou vi vw i wpuwc or otngapore) f J ANNOUNCEMENT RENOUNCEABLE RIGHTS ISSUE ("MGHTS ISSUE") OF 301,787,146 NEW ORDINARY SHARES OF $020 EACH ("RIGHTS SHARES") WITH 37,720,893 DETACHABLE
      724 words
    • 120 16 Itfl't ki I6NORAHT ihit tki lAff. k«*« ft«r HUNTS! Our hotline offers you a one-stop service to gain quick access to topics you've always wanted to know. &mpty call tie hotline enter the 6-digit code. You can also get a quick estimate of your legal fees in a property transaction
      120 words

  • EXECUTIVE Lifestyle
    • 1546 17  -  Shopping in the Indonesian capital can be a trying experience, given the city's traffic jams and less than conveniently located malls. How will the proposed Jalan Prof Dr Satrio shopping belt improve matters? And how serious a rival will it be to Singapore's Orchard Road?
      JEN CHUA  -  1,546 words
    • STRAWS In The Wind
      • 98 17 IN SINGAPORE, if you wilfiilly hurt an animal, you can expect to be swiftly and deservedly dealt with by the law. Try to be funny with the animals overseas, though, and you'll have to answer to them personally. On a crocodile farm just off South Africa's
        98 words
      • 79 17 FIRST it was the Tamagotch. Then it was kids getting so obsessed with the electronic pet that schools started to ban it. Then counsellors were needed to help the kids get over the death of their virtual chickens (when all they really had to do was to stick
        79 words
      • 49 17 A SHOPPER saw something that she liked and asked the salesgirl about the difference between the medium and large sizes, that is, what the difference was in inches or centimetres. The erudite reply she got was: "Large is larger, medium is smaller." Can't beat that logic.
        49 words
    • OPINION
      • 1312 18  -  The modernisation of the SRC clubhouse was prompted by good intentions, but the architectural results leave much to be desired, says tax mom memo TAN KOK MHNG The writer is an architect by profession SOMETHING is amiss at the Padang these days and I
        SIEW YAW HOONG; FILE PHOTOS; PHOTOS BY SIEW YAW HOONG  -  1,312 words
    • PURSUITS
      • 1220 19  -  What role, if any, did a herd of goats play in the discovery of coffee? What is the best way to store it? And does it taste better with brown or white sugar? QOTtiwm khrx sifts out some interesting facts about this popular
        FILE PHOTO; PHOTOS BY SIEW YAW HOONG  -  1,220 words
      • 1038 19  -  Qiustr&Uotw by Ben Cruz BEFORE you start brewing coffee at home, Dawn Evans, trainer at the Coffee Club, says there are five canons you should always follow: Use only fresh coffee Coffee should be stored in an air-tight container, away from strong smells Water
        1,038 words
    • 605 20  -  CINEMA One most be truly Addicted To Love to watch Meg Ryan play yet another lovelorn lass in yet another romantic comedy By Corinne Kerk IT'S Meg Ryan again. In a romantic comedy. Looking cute. So what else is new? Not much, as can
      605 words
    • 606 20  -  CINEMA Swingers, made on a tiny budget of U*****,000, exudes a gritty realism in its portrayal of not so cool dndes in Tinseltown By Susan Tsang Swingers shows us what it is like to be young and single in Los Angeles. There are the cool
      606 words
    • 701 21  -  NIGHTSPOT By] Ben Munroe VISIT Riverside Point and you cannot miss the latest brewpub in town. The gargantuan dummy brewing kettle and the maze of real pipes, drums and vats, capable of producing up to 200,000 litres of beer per year at Brewerkz,
      SIEW YAW HOONG  -  701 words
    • Article, Illustration
      411 21  -  Compiled by, M Yasotha COMCERT The Music Of Frederick Chopin Acclaimed by audiences for his elegant and exciting style of playing, pianist Richard Dowling will give an all-Chopin recital, including the Impromptu No 1 in A-flat Op 29, Barcarolle in F-sharp Op 60 and the Fantasie Impromptu in
      411 words
    • EPICURE
      • 482 22  -  RESTAURANT Those with young attitudes and nnfossy tastes will probably like it at The Junp ft/. Jaime Ee AT THE Jump restaurant, I did a near backward flip when I entered the ladies' room. Sickly white tiles. Urinal-like finks. Stale air. Designer grottiness? Deliberate industrial look?
        CHRIS LOH  -  482 words
      • 567 22  -  Siggi's has created the perfect setting for its Taste of Thailand promotion. w hb tucks into a dinner buffet thafs just too good to be missed JAIME EE THE setting is Sentosa but it could well have been the Chao Phraya River. Cool breezes tempered the early
        567 words
      • 609 22  -  RESTAURANT Hewaacfciackcaa yon stomach at one sitting? Go to The Drake aid be pleasantly surprised By, Annette Pau DID YOU know that Singaporeans consumed on average of 30,000 ducks a day in 1994? And that Malaysia had some 665 duck farms way back in 1973?
        609 words
    • Article, Illustration
      1191 23 Absolute Power. Clint Eastwood is a master thief who witnesses a bizarre murder and becomes a scapegoat. Hougang: 2.15; 9.15. Woodlands: 11.45pm. Addicted To Love. Jilted by their respective lovers, Meg Ryan and Matthew Broderick join forces to take revenge. Lido: 10.45; 1;3.15; 7.30; 9.30; 12am. Century: 11; 1;3;
      1,191 words
    • TRAVEL
      • 1383 24  -  Game for a holiday away from America, Europe and Australia? inHTTBPiV goes to South Africa in search of surf, scenery and a rhino or two ANNETTE PAU UP TO your eyeballs with the architectural and cultural marvels of Europe? Tired of America's entertainment options?
        PHOTOS BY ANNETTE PAU; JEN CHUA  -  1,383 words
  • Page 17 Advertisements
    • 6 17 Coffee beans and brews EL 3
      6 words
    • 121 17 Travel African adventures EL 8 T> ~r~*-~~* *m. t Many are called... but 50 are chosen. Th> 1907 Entaipri— CO nomtnattom 31® lIOW Op6fli Companies can nominate themselves by completing the official nomination form. Companies must be home-grown, privately-owned and incorporated under Singapore's Companies Act (1994 Revised Edition) with four
      121 words

  • Page 18 Advertisements
    • 30 18 ®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. 1 r
      30 words


  • Page 20 Advertisements
    • 45 20 Singapore Business Giving >■ you the winning edge BUY<* SELL,/ rmbt Classified ads make finding a job an easy chore. No matter what it is, you can always buy it, sell it or find it with the Classified. TOIL Fill 1800-737-1166 Coll Today For Results Tomorrow.
      45 words
    • 58 20 M flHor wBKi HHv jBI j H |l II jfl JL Sk 114 IJ ?J[ r fflHlftf fMfIBMHMiSE&I ÜBfc«4ik>H JI. jjik ,v mjM mM £"V SINGAPORE'S MOST INSPIRING HOMES 1 143 PAGES OF WONDERFUL ROOMS AND IDEAS A GREAT BOOK FOR YOURSELF, FAMILY OR FRIENDS GET IT AT TIMES THE
      58 words

  • Page 21 Advertisements
    • 555 21 r «v J IWVMMI Where to wine, dine and entertain... :SgK^M What tetter way to celebrate a great week than Sunday Brunch at The Lafe-in-The-ftrt? Enjoy the finest hrunch and service at only $2S* per adult (only $14 for the kids). Then toast your good fortune with Gold Sett Champagne,
      555 words
    • 73 21 24-hour Coffee House Ist floor The Chicken Rice Capital Of The World 333 Orchard Road, Singapore *****7. Tel: 737 4411 While wv upgrade, our Buffet Dinner will be served in our temporary Coffee House, Basement Hotel Phoenix 6pm 10.30pm daily Adult $15.00* Child (below 12) $10.50* All prices are subject
      73 words

  • Page 22 Advertisements
    • 88 22 I ''.f y* I in business good connections can make a world of difference Reach customers and business partners around the world with Singapore Connect, Singapore's most comprehensive business directory on the Internet «aj|a:» with Singapore connect: Add information to the basic data in your company's listing Join our Partners
      88 words
    • 18 22 Siggi's Beaufort Singapore 2 Bukit Manis Road, Sentosa Singapore *****1 Tel: 275-0331 Available for dinner onfy from 7pm
      18 words

  • Page 23 Miscellaneous
    • 1775 23 TODAY'S TV bbobmmiwdbp nswnro e .?s? tagums IXOO NN TV Innovations. 4 oo Ya Allf! When a Mend SSSESL-,* the old house and dreams 230 Wimbledon Special: ste- Savannah. turns to Clini6 Of a chuckling, fan Edberg At Wimble- i 030 Anokha Aspatal Part I. slouch-hatted shade in this jj°J-
      1,775 words
    • 194 23 RADIO Hongkong liwlal Orphan, disrespectful look at these —P. ttmtm j. 1 Iftpi various, and often bizarre, Has Hongkong developed a causes of death. distinct culture and identity? If so, will this survive the IteHeagkoagHoMtag colony's return to China? Find oMVMyißßo,Bu4ay, out in Global Village. L3opm A drama series that
      194 words