The Business Times, 5 July 1997

Total Pages: 24
1 24 The Business Times
  • 14 1 THE BUSINESS TIMES MITA (P) 023/12/96 85e SINGAPORE Internet- http://www.asial.com.sg/biztimes WEEKEND EDITION, JULY 5-6,1997
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  • 422 1  -  Company believed to have filed with SES and named DBS Bank as lead manager By Diana Oon [SINGAPORE] Malaysian tycoon Robert Kuok has again applied to float Allgreen Properties, less than a year after it withdrew its application because of unconducive market
    422 words
  • 449 1  -  Additions may come in next revision of index From< Quak Hiang Whai in Hongkong THE benchmark Hang Seng Index may soon be revised to include more China-affiliated companies popularly known as red chips, brokers said. Red chips such as China
    AFP  -  449 words
  • 378 1  -  Cheong Khee San accused of trying to cheat Ernst fc Yonng By l Conrad Raj [SINGAPORE] The auditor of electronics firm CAM International was charged yesterday by the Commercial Affairs Department with conspiring to cheat co-auditor Ernst Young. The CAD also slapped another 12 charges
    378 words
  • 92 1 [SINGAPORE] The pre-trial conference of a corruption case involving the Royal brothers has been adjourned till July 30. Deputy Prosecutor Muhammed Hidhir did not give any reasons. Last month, Raj and Asok Kumar, better known as the Royal brothers, were charged in
    92 words
  • 432 1 Bloomberg [NEW YORK] Merrill Lynch Co brags that it has more millionaire clients than any other US securities firm. In response, the rest of Wall Street argues that having US$l million (Ssl.4 million) isn't such a big deal these days. In
    Bloomberg  -  432 words
  • Page 1 Advertisements
    • 109 1 disde 1H -133il rrtoie Developer Ban Hin Leong's chairman talks about hit passion for creating homes and why there are no plans to list the company, EL 2 lAmmqt fcdi^ The collapse of mediumsized construction contractor Tokai Kogyo sends shivers through Japan's financial markets, F|» 1^666 Thailand's stock exchange will
      109 words
    • 46 1 Ac M 3 i 150 YEARS OF HISTORY AND ROMANCE Cariier boutique/ 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, 581 Orchard Road. Te1:235 0295
      46 words

  • SINGAPORE AT HOME & ABROAD
    • 404 2  -  Company says paging, handphone subscriber base higher since it lost monopoly in April By] David Boey SINGAPORE Telecom (SingTel) continues to see strong demand for its mobile phone and radio paging services despite keen competition from new rivals, one of its officials said yesterday. Executive
      404 words
    • 357 2  -  New Alloy offers patented LiveCD technology By' Toh Han Shih A HI-TECH spin-off from local research body, the Information Technology Institute (ITI), opened its Asia office here yesterday. The company, New Alloy, offers technology called LiveCD which enables the personal computer to use the Internet
      357 words
    • 326 2  -  From Rajendra Bajpai in New Delhi INDIAN and Singapore government officials are meeting later this month to chart out a new agreement on air traffic rights between the two countries, a spokeswoman for the civil aviation ministry said. She said discussions between the
      326 words
    • 683 2 Overhaul to encourage top-quality personnel to stay in service The Straits Times THE Singapore Armed Forces is making major changes to its compensation and benefits package for uniformed officers, in an effort to encourage top-quality personnel to remain in service. Most radical
      The Straits Times  -  683 words
    • 257 2  -  NTUC cooperative venture to help moderate price rise By. Audrey Tan NTUC cooperative venture Foodfare will operate food courts and food kiosks in every major housing estate, besides setting up a series of food franchises with existing market players, National
      FILE PHOTO  -  257 words
    • 299 2  -  By Soh Tiang Keng GLOBAL Guaranty Assurance (GGA) a specialist financial guarantee insurer with local and foreign interests has been given the green light from the government to start business in Singapore. GGA will be the second specialist financial guarantee insurer to operate in
      299 words
    • 233 2 [SINGAPORE! A Singapore trade mission leaves for the Philippines tomorrow to promote homegrown franchises. The 15-company team, headed by the Singapore Trade Development Board (TDB) and the Singapore International Franchise Association, will visit Manila and Cebu. It will explore opportunities and identify viable partners
      233 words
  • Page 2 Advertisements
    • 132 2 I co WITH A DIFFERENCE We octuaily measured our rooms ond discovered that probably one of the most spacious you! get at 55//9*! lb make it an even better offer, we compliment it with: Welcome Coffee/Tea making facilities pO Hows itfeuse video Newspaper Swimming bd usage Subject to 10* service
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  • Page 2 Miscellaneous
    • 420 2 THE WEATHER atogeporei Showers in the afternoon, mainly over Western, Northern and Eastern Singapore. Temperature (32-24) a nil, rr bvu* cm. n»p hvu* cm. wu 1 Aorfckad IHS Shown AKrtn J*ll fcw BuemAra IVW doa* BaagMk JfcW Aim Oilier ■ST JT2I Ctariy Bate «*tt Cta* SS Bonbm 31/26 Showm Bom
      420 words

  • Page 3 Advertisements
    • 360 3 Reason CLUBS. A few minutes' VP^lh your game of Reason six. RESERVOIR able to go for an jog after bringing your family for a picnic during the weekends. You can these fancy, because they're all Site Area FACILITIES. If you don't feel like going anywhere at all, w*U Reason one.
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  • FOCUS:PERSONAL FINANCE & INVESTMENT
    • BULL'S EYE
      • 697 4 Those polled for their views on the Singapore stockmarket outlook next week were: Alliance Securities, Deutsche-Morgan GrenfeU, Fraser-AMMB, G K Goh, ING-Barings, Nomura, OCBC Securities, Phillip Securities, SBC Warburg, UOB Securities. Serial System ♦Hold Fraser-AMMB Research, July < $0.715 The company distinguishes itself from other distributors of
        697 words
      • Article, Illustration
        315 4  -  Oliver Behrens DBRnJMiiiijiinwit Singapore um HE fund manageI ment industry is an X important growth sector in Singapore's serviceoriented economy. And the Singapore government supports private investments by selecting such industries for favourable tax and regulatory treatment. Fund management has registered impressive growth recently. Government-linked institutions play
        315 words
    • 582 4  -  Smart money would wait to look for firms that can participate in China's growth in areas like infrastructure, telecoms By] Norman Wong The author is senior portfolio manager with Citibank Private Bank's Asia-Pacific Investment Services Unit. He specialises in the Hongkong stock market. (SINGAPORE] FOR
      Source: Bloomberg  -  582 words
    • 558 4  -  BTB OK THE RBOIOH: PHILIPPINES But local investors are said to be picking selectively From. Al Labita in Manila A RESURGENT Thai bourse seems to have worsened the plight of Philippine shares this week as investors went on a selling spree, derailing a
      FILE PHOTO; Source: Bloomberg  -  558 words
    • 457 4  -  Templeton raised $135min4weeks; more such trusts from locally-based managers in pipeline By\ Shiv Taneja [SINGAPORE! The strong showing by Templeton Asset Management's Global Growth Fund at its launch it raised $135 million In four weeks should send a clear signal to fund managers
      457 words
    • 215 4 [BANGKOK] For Vichian Pengsorn the cost of a quick lunch went up by one-third overnight. "Last week, a dish of rice and curry cost me 15 baht (74 Singapore cents). Today, the stand charged me 20," said the 24-year old Bangkok delivery man.
      215 words
    • 410 4 Rtcommtrubd portfolio weights/tor BT-SRI Stocks stock ""SKS "&R82, "BStf SW8 Mmr 800.408 0.47% US81J1 115.4 Acatmulq* tin+l* 1.383.252 2.01% S86.8S 194.9 Rtdua 0.00% SZU mnMl gg2%—U8S8J2 77.0 Axuimdrtt L03% OwtoACfclT 2.363,176 3.70% S814.40 276.1 Hold MSBta*(F) M09.583 5l*%SuJO757.9 DBSS'parmt 5.68% -fcwlfcm 1-406.148 2J0% U8t0.756 U8L§ Ug» BSjffr* 561.292
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  • REGION
    • 584 5  -  TOKYO Markets fear Tokai Kogyo's collapse may be first of many in industry, and deepen banking sector woes By- Anthony Rowley THE bankruptcy of a mediumsized Japanese construction contractor, Tokai Kogyo, sent shivers through the financial markets yesterday. There were fears that the collapse
      584 words
    • 349 5  -  BANGKOK Index jumps <L 3% bringing total gain over 3 days of frantic trading to 25% By: Harish Mehta THE Stock Exchange of Thailand has decided to widen the limits on shares* daily price movements to boost trading and bring them in
      349 words
    • 51 5 [HONGKONG] A Hongkong citizen, who is only known as Mr Tian, displays the first Hongkong Special Administrative Region passport ever issued in the former British colony. Large crowds turned out despite hedvy rain to get the new SAR passports on Thursday—thefirst working day under Chinese rule.
      REUTER  -  51 words
    • 522 5  -  JAKARTA Announcement of package put off again due to administrative reasons minister Byl S N Vasuki INDONESIA yesterday delayed till Monday the announcement of a major deregulation package expected to focus on reducing unofficial levies and streamlining investment and trade rules. Coordinating Minister for Production
      522 words
    • 396 5  -  MANILA Market posts mild [puns on reports of single-digit inflation and surge in exports By Al Labita PHILIPPINE stocks and the peso yesterday shrugged off the Thai scare, posting mild gains on reports that inflation remained single digit and
      396 words
    • 395 5  -  BANGKOK By: Harish Mehta THAILAND is heading for a severe recession following the devaluation of the baht on Wednesday, a financial analyst warned yesterday. Neil Saker, associate director and head of regional economic research for SocGenCrosby Securities, told BT: "A devaluation of the
      395 words
    • 144 5 JAKARTA Reuter INDONESIA has cancelled changes it had proposed to 1 mining regulations foUowing negative feedback from the in-; dustry, the director-general of. mining Adjat Sudradjat told Reuters yesterday. "There will be no changes., We wiU now go back to the
      Reuter  -  144 words
    • 1467 5 CITY FlISHT ETA FUOfT CTD Abo MwM GA890 006 Wltl S0909 1705 S0990 0105 AdotaMo Of81 1930 0F82 2055 6 8,7034 1730 1 $0229 2220 SMMjrtw CZ351 2045 i mmm %MI 0130 tmatm SO0O9 2120 S0810 1020 Aastordam KLS43 0455 GA890 0015 Hanoi VN741 1310 S0176
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  • REGION/WORLD
    • 436 6 WASHINGTON They however agreed a rate rise might be needed in the not too distant future Bloomberg PUZZLED Federal Reserve policy-makers were divided at their May 20 meeting on whether to raise interest rates but ultimately decided to hold policy
      Bloomberg  -  436 words
    • 278 6 HONGKONG Reuter BEIJING has begun to dismantle the institutions that it set up to steer Hongkong into Chinese rule. Analysts said the moves indicated the Chinese communist government was moving quickly to give the new Hongkong administration a free hand to run the
      Reuter  -  278 words
    • 374 6  -  LONDON Traders fear other central banks will follow Aussie move By\ Neil Behrmann THE Australian Reserve Bank's sale of 167 tons of gold has demoralised the precious metals market. Gold plunged to US$324 an ounce in London yesterday from US$332 on
      Source: Bloomberg  -  374 words
    • 177 6 MANILA AFP ASEAN has agreed to complete a framework by 1998 for the creation of an Asean Investment Area to lure regionwide investors, it was announced here yesterday. The agreement was reached at a meeting of the heads of investment agencies of the Asean nations,
      AFP  -  177 words
    • 843 6  -  WIIUIFUAIf TBW Budgets are a chancellorlng challenge which snlts only some By Kelvin Sullivan THERE was a computer game popular in the late 1980s (heavy on text, alas, and with primitive graphics) which invited players to draw up their own national
      843 words
    • Article, Illustration
      54 6 m [MUOTATHAL, Switzerland] Around I,4oosheep being led through the village of Moutothal in central Switzerland yesterday as they head towards the Erigsmatt Alp where they will spend the summer this year. The alp has an altitude of around 2,082 metres and it will take the sheep two days
      REUTER  -  54 words
    • 252 6 TOKYO He will have a say in Japan's international financial role AFP JAPANESE finance ministry officials said yesterday that Eisuke Sakakibara, dubbed "Mr Yen" for his influence over foreign exchange markets, is to be appointed to the key post of deputy vice-fi-nance minister in
      AFP  -  252 words
    • 222 6 WASHINGTON Bloomberg THE Clinton administration will announce later this month that it expects the fiscal 1997 federal budget deficit to be below US$6O billion (5585.8 billion), two administration officials close to the process said on Thursday. That's down from the US$l26 billion estimate
      Bloomberg  -  222 words
    • 170 6 HONGKONG AFP THE return of Hongkong to China was not the tourism extravaganza local operators had been hoping for, with the volume of visitors barely keeping pace with that for an ordinary three-day weekend, the Hongkong Tourism Association said yesterday. Although hotel
      AFP  -  170 words
  • Page 6 Miscellaneous

  • COMPANIES & MARKETS
    • 443 7  -  Indonesian conglomerate will compnlsorily acquire the balance By< Conrad Raj [SINGAPORE] Indonesian conglomerate Sinar Mas has successfully taken over troubled Amcol Holdings, having received acceptances of 98.68 per cent, and will compulsorily acquire the balance. Under the offer, four new
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    • 609 7 HE'S return to China, b&ht's float provided opportunities to buy Bloomberg [SINGAPORE] Singapore investors seem more interested in Thailand-related and Chi-na-related stocks that trade in Singapore than their own. China and Thailand-relat-ed stocks have made doubledigit gains this year, while the benchmark
      Bloomberg  -  609 words
    • 191 7 [SINGAPORE] Hotel Properties Ltd (HPL) yesterday said it had acquired 100 per cent of the equity in Concorde Hotels Resorts Pte Ltd (CHR) here and Concorde Hotels Resorts (Malaysia) Sdn Bhd. The companies will manage hotels and resorts. CHR has an authorised share capital
      191 words
    • 478 7  -  HOCK LOCK SIEW Harish Mehta THE Thais do not pray to any one money-god but to a whole pantheon of economic deities, so to speak. One prayer of Thai exporters was answered when the Bank of Thailand unpegged the baht from a
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    • 236 7  -  But turnover dips 0% on lower shipyard revenues From, Al Labita in Manila KEPPEL Philippines Holdings Inc (KPHI), the listed flagship here of Singapore's Keppel Group, yesterday reported a 20 per cent jump in profit to 30 million pesos (551.63 million) in the first
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    • 218 7 Bernama [KUALA LUMPUR] Metroplex Bhd will continue to perform well in the current financial year following the encouraging outlook for the hotel and leisure industry. "The success of Subic Bay has been dramatic in 1997," managing director Chan Teik Huat said in the company's
      Bernama  -  218 words
    • 220 7 Bernama [KUALA LUMPUR] Advance Synergy Bhd announced yesterday that its wholly-owned subsidiary, Synergy Gold Incorporated (SGI), has accepted an offer to increase its shareholding in Australasian Gold Mines. This will be done via a placement of 7.25 million shares in Australasian
      Bernama  -  220 words
    • REGIONAL COMPANIES
      • 624 8 Gains likely despite curbs on credit growth, regional banking problems AFXAsia (JAKAßTA] Commercial banks can be expected to post strong second half earnings gains despitf strict credit growth limits imposed by Bank Indonesia late last year and regional banking sector problems,
        AFX- Asia  -  624 words
      • 636 8 Q1 net op 90% to USs66m while paper prices, volumes down AFX-Asia [JAKARTA] New York-listed Asia Pulp and Paper (APP) said net profit rose 90 per cent in the first quarter of this year to U5563.53 million (5593.7 million). The Singapore-based paper maker,
        AFX-Asia  -  636 words
      • 388 8 Raising of company's credit rating by Duff Phelps also helped Bloomberg {MANILA] Philippine Long Distance Telephone shares surged 7 per cent to a two-year high as investors bet the company would be one of the clear winners if the peso depreciates.
        Bloomberg  -  388 words
      • 86 8 [KUALA LUMPUR] Close-up shot of a map showing routes of Kuala Lumpur's planned light rail transit (LRT) systems. The map and pen were given out free to prospective commuters at shopping malls yesterday by Projek Usahasama Transit Ringan Automatik (Putra), an LRT operating company. Malaysia
        REUTER  -  86 words
      • 364 8 UK phone firm will sell shares in HK Telecom in exchange Bloomberg, Reuter [HONGKONG] Cable Wireless pic's chief executive said it's "very possible" the company will buy a stake in the Hongkong arm of China's largest telephone company. China Telecommunications (Hong Kong) may
        Bloomberg,; Reuter; FILE PHOTO  -  364 words
      • 162 8 AFXAsia [KUALA LUMPUR] Telekom Malaysia Bhd said it has allocated M 53.3 billion (511.87 billion) for telecommunications infrastructure in 96 development projects, the New Straits Times reported. The newspaper quoted senior vice-president of major business and government Mohd Khir Harun as saying that Telekom has
        AFX- Asia  -  162 words
      • COMPANY Briefs
      • 66 8 [SINGAPORE] In a July 3 BT article headlined "HMI Balestler Hospital plans to list by 2000", it was reported that HMI Balestler Hospital Pte Ltd owns and runs the HMI Balestier Hospital here. Char Yong (Dabu) Association has since clarified that it owns the premises of the hospital at
        66 words
    • INTERNATIONAL COMPANIES
      • 584 9 Woolwich Building Society expected to have market capitalisation of £5b Reuter, Bloomberg [LONDON] Woolwich Building Society will next week ditch its 150-year-old mutual status to become a bank, following recent stock market debutantes Alliance Leicester and Halifax. Latest indications from bookmakers City
        Reuter,; Bloomberg  -  584 words
      • 188 9 Reuter [NEW YORK] Electronics distributor Wyle Electronics has agreed to be acquired by a subsidiary of the German utilities giant Veba AG in a deal worth US$BlO million (Ssl.2 billion), the companies said on Thursday. Under the agreement, approved by the boards of
        Reuter  -  188 words
      • 255 9 FT [AMSTERDAM] Philips, the Dutch electronics group, has begun talks with investors about reducing its stake in Grundig, the troubled German consumer electronics group. Analysts saw this as confirmation that chairman Cor Boonstra wanted a swift end to Philips' costly relationship with Grundig.
        FT; FILE PHOTO  -  255 words
      • 235 9 They need to merge and restructure to meet US competition IHT [PARISJ Lockheed Martin's plans to buy Northrop Grumman will increase pressure on European aerospace companies to merge and restructure, analysts said Thursday. With only two major aerospace companies and a large defence
        IHT  -  235 words
      • 155 9 Bloomberg (COLUMBUS, Ohio] Germany's Bertelsmann AG and America Online Inc will offer more than US$l billion (Ssl.4 billion) to buy CompuServe Corp, the Wall Street Journal reported yesterday, citing people close to the transaction. Bertelsmann, which owns 5 per cent of AOL, is
        Bloomberg  -  155 words
    • SHIPS IN PORT
      • 638 9 Vtssrt Voy No Bfth Arrival Dtwrtar* ImMmmw 67 jn M|Ml 05.07/1500 ijtam mdafl W62 JOT aloaqsid* 04.07/2300 RMM 0(0797 -J01 alMgjd* £2525 Mono 163 JULY4 J01 MapMt 0407/1300 H Ul2 22 *****7 J01 ato—ld* 2MK22 Rtol *****7 JOI RTMJn *****7 J01 atonpidt Cwtertvy 010/97 J» akwjsid* riii S
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      • 1572 9 RECEIVING Of EXPORT Fa COWT/UWBK UK La CABSO Booking/Mane* Rst!» Ship Voy No Etb/Btr Ptftod Fro« To Fro* *29* 07/0700 8 OVBO* 0VJJS9 OVBM U 04/1700 0V0459 oywoo 2t 04/1700 05/0*59 05/99M 3 05/0700 owns* ovwoo 4 OVBOO 05/1459 0VT700 mi 0*/l*>0 8 OVBOO 0V859 04/BM 04/1900 04/859
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    • FINANCE & COMMODITIES
      • 500 10 Munich Re's plans to acquire Victoria Holding will create country's 2nd largest insurer after Allianz Reuter [FRANKFURT] Reinsurance group Munich Re plans to acquire Victoria Holding AG by merging it with Munich Re's unit Hamburg-Mannheimer AG in a move which will create
        Reuter  -  500 words
      • 466 10 Suit alleges insurers misrepresented payments needed to keep policies in force Reuter [TORONTO] Canadian policy holders on Thursday launched a Cs2 billion (Ss2 billion) lawsuit against two units of London Insurance Group, and National Life Assurance Company of Canada. Lawyers representing policy holders said the
        Reuter  -  466 words
      • 202 10 Bloomberg [TOKYO] General Electric Capital Consumer Finance, a wholly-owned Japanese unit of the financial services arm of General Electric Co of the US, said it has hooked up with Sakura Finance Service, a subsidiary of Japan's Sakura Bank Ltd. Under the
        Bloomberg  -  202 words
      • 461 10 USS/m&rk: The US$/mark cleared the resistance level of 1.7420 on Monday and hit successive highs each day thereafter to touch 1.7564 by Thursday. It then corrected its gains to a low of 1.7470 on the same day. The technical picture favours a test of the next resistance
        Source: DBS Bank  -  461 words
      • 264 10 SXXEXHeport Reuter [SINGAPORE) Simex Euroyen futures extended gains yesterday as lingering rate hike fears were erased by fresh corporate woes in Japan. "If there were still doubts of an imminent rate hike in Japan, the Tokai Kogyo news should have erased them," said
        Reuter  -  264 words
      • 170 10  -  MSCI TAIWAN FUTURES By Perry Gilbert vice-president, Refco Singapore Pte Ltd [SINGAPORE] The Simex MSCI Taiwan Index futures opened on its lows and surged higher yesterday, carried to a new high of 392.0 on the back of a strong cash index. Refco
        170 words
      • 212 10 ENERGY REPORT Reuter [LONDON] Oil prices ticked lower yesterday, following through from Thursday's slump as dealers took profit from gains early in the week. Prices came under pressure as dealers gave the thumbs down to support from US petrol demand and
        Reuter  -  212 words
      • 269 10 AFP THE US dollar retreated in the face of a strong yen, which continues to profit from the weakness of the Thai baht. The dollar was expected to have a quiet day because of the closure of US financial markets yesterday for a public holiday. But it retreated
        AFP  -  269 words
      • Article, Illustration
        914 10 DfTERBAini CROSS RATBS J j±!i «5S uS Ul Ulia 135 &J23 2MM aSI UK wl M UIIMM Iw 1M W l«J gjg Mg|j E. i js s& 'Si »55 aas «us&»»gs^sg as sss, ssw tx vs«s^^ j is 3!«s W7s3§^«aSsi§ a§B§i| su. ssiwssMSU8°.OSSis!!-" 8 ««^aSSSJuSJhm UN 120 7.342 0.7*5 1204
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    • 1596 11 S1C0M PUTORBS Jul 04 IUMCI (Mwm at SJOpa) RSS t C0KTtA€T(S CMti/h|) ClNO Mm Opao Morth W» Law Ittt d—1» totomt A* 97 126.75 QUO ***** 100 1745 Sap97 ***** 1745 Oct 97 138.00 [750 No* 97 139.50 |750 OK 97 140.50 1750 Jan/Mar 96 145.00 ***** 145.50
      1,596 words
    • 2147 11 irtuwiM MHHHHi *c' HH RH Mi ■M* 31 Croup 50&400 -7 AS Port J 254 1 Abbey National 888 -8.400 UMOOMq 435.400 1.400 Amec 161.400 unch Asda Croup 132.400 -3.800 BATInd 555 -.600 BGPk 232.400 -5.600 B4CC 180 unch BOC Group 1062 -.400 BR Petroleum 778.400 *1.200
      2,147 words
    • 1584 11 AFP QNikkei 225 -153.C TOKYO'S key stock index closed below the psychologically important level of 20,000 points yesterday for the first time in more than a month as the yen's strength led investors to take profit. Foreign investors, the leading force of net buyers here, stayed on the sidelines
      AFP  -  1,584 words
    • Article, Illustration
      1567 12 Bloomberg QH&ngSeng -***** SHARES tumbled for a second straight session yesterday, dragging the benchmark Hang Seng Index down 1.6 per cent, as investors sold real estate shares on growing concern that the new government's housing policy will hurt earnings growth. Property companies extended their slide after Hongkong's new Chief
      Bloomberg  -  1,567 words
    • Article, Illustration
      654 12 Reuter UshsMhanß Index -0*57 THE Shenzhen B share market closed down slightly yesterday with continuing bearish sentiment keeping investors away. The B Index lost 0.57 point to 135.40 on turnover of HKS44 million. The A market erased early losses to end up 3.35 points at 411.62 on a turnover
      Reuter; Source: Credit Lyonnsis Securities(Asia) Ltd  -  654 words
    • 326 12 AFP HWPMeat +IMJH HEAVY buying of shipping and banking shares lifted the stock market to its highest close in more than seven years yesterday. The shipping sector also benefited from expected freight increase in the second half of this year, an analyst said. But he warned that a correction
      AFP  -  326 words
    • 249 12 Bloomberg QWeOmgton SHARES rose slightly yesterday amid concerns that the week-long rally has taken prices beyond reasonable values. The NZSE Top-40 share Index rose 6.97 points to 2,526.65. Bloomberg mi *h nw AMZ Banking W.80 <>io 133*4 Advantage HMqt 1.05 -0.02 ***** Air Nn Zealand (A) 3.06 -0.05 *****2
      Bloomberg  -  249 words
    • Article, Illustration
      828 12 AFP P SET laid +3UI SHARE prices gained 6.3 per cent in heavy trade yesterday as foreigners flooded into the bourse for the third day since the baht was floated. An analyst said most of the buying by foreign investors was longer term investment on the view that the
      AFP  -  828 words
    • 394 12 AFP 444 SHARE prices rose yesterday, thanks mainly to advances by heavyweight manufacturing shares seen to benefit from expected economic recovery. The Composite Index closed 6.44 points up at 781.70. Turnover was 47.9 million shares worth 756.3 billion won. Rises led falls 401 to 361 with 136 shares unchanged.
      AFP  -  394 words
    • 578 12 AFP PADOrfaariai -US SHARES fell yesterday after being hit by a plunging gold sector in the aftermath of the sale by the central Reserve Bank of Australia of two thirds of its gold reserves. The All Ordinaries Index lost 9.5 points to 2,733.4. Turnover was 334.5 million shares worth
      AFP  -  578 words
    • Article, Illustration
      758 12 AFP Composite Indn +LlO SHARE prices rose 0.2 per cent yesterday to their second consecutive record close, supported by late buying of Telkom, dealers said. "The index was up slightly today," one dealer said. "Generally, I would say the market will continue to be strong. Today's volume is still
      AFP  -  758 words
    • 276 12 AFP Manila +1154 SHARE prices ended a twoday losing streak yesterday, rising 0.6 per cent on technical factors due to a stable peso. The Composite Index rose 16.54 points to 2,758.96. Turnover was 8.26 billion shares worth 2.34 billion pesos. PLDT rose 60 pesos to 930. Manila Electric Co
      AFP  -  276 words
    • KUALA LUMPUR STOCK MARKET
      • 487 13 AFX-Asia QOompoateUstz -7«30 SHARE prices closed lower across the board yesterday, led by sharp falls in Telekom Malaysia and Sime Darby. Dealers said foreign institutions were sidelined and there was little local buying interest amid renewed concerns over the impact of the baht float
        AFX-Asia  -  487 words
      • 8123 13 ,t t v ,> < s CwnMHf pntett 1997 Last Vol Day Net Cap I— Cl—U» Sate "000 Mgb tw P/» 790 560 Annomoto —560 -40 1 560 560 31.0 227.0 446 293 Angkasa 312 -4 3 316 312 9J 460.0 MS 610 Apo«o Food Htg 670 unch 3 670
        8,123 words
    • WARRANTS & OPTIONS
      • 241 14  -  WARRANT WATCH By Ven Sreenivasan WITH the expected pick-up on the local bourse during the second half, it is time to cast around for a warrant that looks set to outperform the market. As most equity strategists see an uptick in the electronics sector
        241 words
      • 3315 14 RONM, LOANS ft WARRANTS •MT Lilt Vol Bay LMI Ouof A, g Hmi LM Stna Cim»«nr I* Hf COOP) Hmi L— Buyar Prtea 68 44.5 m 3000 m AMD8 cS.5%*****6 *i 5 ifs I 67 413 3160 *AC»f W*****1USS _SJ3 -0.5 10 52 51.5 50 52.5 131 70 3164 Aema
        3,315 words
    • 1942 14 Transaction Date Jul 41 MALAYSIAN STOCKS s **f ?f|SSif£' :HHH Or Or 1997 Urt v« On LartQMt* OKr M» VM Mt MC<* High U» 5t»o C«m>any Mt fOOOl U» N>» W> C VT 111 478 296 ms 5000 AK850c 304 *2 33 304 302 304 306 5.0 508
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    • STOCK EXCHANGE OF SINGAPORE
      • 493 15 -"-ft'-- m SF a s I I :;gB '*r Jffl fffi "K oisS §7*5 «5j5 aTfcra «JS« J^SS MAM CUM TOTAL 3 —grl| ■•iw^'grW MMtlW W M I* P W r*«nc» tt T I 4 a H1W1 Jit J »!fs K) 4 2 12J3 22 T S Plantations 2 2
        493 words
      • 3987 15 Transaction Dale Jill 4 Or Or M 1*1 IM7 Last Val Day LMt Owd CMv OUr YM Mat Cap A*6 HI* L— mm c.apaay I-QQO) u» 9»yar —%_p/| Wf*. INDUSTRIALS *T$\ U 'V* 5146 AS£NT$***** US- s a a a a 3 a s 330 -iS&JSLlf&J 2*2 MHO
        3,987 words
      • 910 15 •r «r M wt 1997 LMt V* Dry LMlOMt* M> M> W M <-*»*"* HHd l— tm» c«t >* rooot wn 6«6»r <** 166 76 2000 AMI HMto Sc KM »1 2*0 no W 107 KM 3.0 6.0 0.1 ISO 46.0 KM 260 144 2049 AS Auto Kk 271
        910 words
      • Article, Illustration
        73 16  -  1 Larry Wee TYE SOON touched a new intra-day high of 58.5 cents on strong volume yesterday. As momentum is accelerating, the RSI reading of 75 should not pose any significant obstacle. Buy on any retracement to the uptrend support line, which currently stands at 52 cents. A
        73 words
      • 219 16 ifrTTMTHTmiTn^^^^^^^^^BMMB Stwta lljgj J *Ber}ayalnd 15,235,000 Tyc Soon 10c 8.980,000 S Popular 10c 8,176,000 •Westmont Land 8,065,000 Foh liao 10c 8,054,000 'MutohaR 3,984,000 SMB United 10c 3,891.000 New Toyo 25c 3.680,000 Excel 20c 3.250,000 FHTK HMgs 20c 3.159,000 Stocks I SIA Foreign 33,109,659 *Ber)aya Ind 24,602,850 1)08 Foreign 21,944,760 City
        219 words
      • 647 16  -  mOUBKBT COMMENTARY Hongkong's 232-point fall seems to show that some institutions are shifting their money to this region, with Singapore, Thailand the beneficiaries By Conrad Raj [SINGAPORE] The market staged a mild rally yesterday as foreign buyers began to nibble
        647 words
      • ON THE GRAPEVINE
        • 121 16 Microsofties not getting enough> A CERTAIN Dr Ruth Westheimer recently visited Microsoft's headquarters in Redmond, Washington, and then told the AP wire agency that she was concerned by the long hours worked by the software company's employees. Her worry: It's difficult to "have time to have good sex if you
          121 words
        • 109 16 ANOTHER item which has been doing well in Hongkong during this period is the English language documentary on the Tiananmen incident—Gate of the Heavenly Peace. The excellent three-hour documentary, which was shown in a local theatre for months, ended its run just before the handover. Now,
          109 words
        • 97 16 RED and yellow are the most popular colours in Hongkong these days. It has nothing to do with the seasons. Rather, it has all to do with being politically correct —red and yellow are the colours of China's five-star flag which has been flying at government
          97 words
        • 70 16 AN OCBC ad that dangled five Beemers as prizes looks good compared with Standard Chartered's four Mercs. But read the fine print first. For OCBC, it seems that only deposits of $3,000 or more are entitled to the draw. And it is not open to fixed
          70 words
        • 70 16 OCBC BANK has stopped granting preferential interest rates to senior citizens. Since April, young and okl customers alike have been getting the same treatment. For instance, the fixed deposit rate is 4 per cent foralL A teller was not able to explain why the bank
          70 words
  • Page 7 Advertisements
    • 74 7 mugged And you don't even have to be in New York! Just go to the Promenade or Paragon during The Great Singapore Sale and spend $250 on your American Express Art mug worth $23. You will also have a chance to win $2,000 cash and a $650 Royal Selangor pewter
      74 words

  • Page 8 Advertisements
    • 293 8 BUSINISS The only monthly business magazine that gives you the Singapore perspective of the local and regional business scenes UL- Ife!— I |£=g= > gBS.Q5 gr business business A /[QI/11C\ rf Tt EX6CUtIV6 Condos 7"Singapore Telecom WlCl h I^l' JLL WDd card in the property mark 11* iJkK rail Written
      293 words




  • Page 12 Advertisements
    • 33 12 ®For real-time stock information, call Quick Stock on V P 1900-913-0003 at 30 cents a minute. |St Stock numbers are available in the stock pages of £fU! The Business Times and Lianhe Zaobao.
      33 words


  • Page 14 Advertisements
    • 56 14 J J These other corporate opportunities I I w 111 th 6 enhance your corporate image with a self-funding special feature uccasio For more on how you can to the occasion a special feature, Official openings Corporate anniversaijßififcaffcition aiefeoH Topping-up ceremonies Ronald Ckua T«h74o 2042 P F 9309 5770 «0
      56 words

  • Page 15 Advertisements
    • 183 15 WfX WIZ ....comes to VOU 1A Available at Amcontes, I wish to subscribe toWhfon (ptease choose one) Method of Payment (phase tick one) MpH TimesTh« Bookshop, J One yeer<l2 issues) at $64 Charge to my card Visa/ Amex Master/ Diners U tVcHY MONTHKinokuniya, Challenger J Half a year (6 issues)
      183 words
    • 8 15 Our auto listings won't steer you wrong! iMsonwhcHs.
      8 words

  • Page 16 Advertisements
    • 525 16 BUSINESS Notices To advertise call toll-free 1800-741 1883 IN THE MATTER OF THE COMPAMES ACT. CAP. SO AND IN THE MATTER OF YEN PROPERTY* MANAGEMENT PTE LTD (In Members' Voluntary Liquidation) At an EXTRAOfIONARY GENERAL MEETMQ of tie members of YEN PROPERTY A MANAGEMENT PTE LTD duly convanad and hatd
      525 words
    • 359 16 IN THE MATTER OF THE COMPANIES ACT, CAP. 59 AND IN THE MATTER OF TRANS EMIRATES PTE. LTD. (la Voluntary Liquidation) MEMBERS' VOLUNTARY WINDING UP NOTICE IS HEREBY GIVEN that the creditors of the abovenamed Company which it being wound up voluntarily, are required on or before 15th August 1997
      359 words
    • 856 16 BAMSTOM INVESTMENTS PTE LTD (laaAikMkAVAfAil las BBS g COMMTKMAL CALL AM PET OPTMSS RELATBN TS TBi ACQUISmOB BY BAINSTSB INVESTMENTS PTf US SF Ml EQUITY INTEREST N NS WAN SfBTBM MTfBBATMBAL LTB Tha Board of Directors of Bariston Investments Pte Lid ("Bariston" or the •Company") wishes to announce that Bariston
      856 words
    • 136 16 LEGAL h IGNORANT •bMtthi UV. kiMfur RICHfS! Our hotline offers you a one-stop service to gain quick access to topics you've always wanted to know. Simply call the hotline enter the 6-digitcode. You can also get a quick estimate of your legal fees in a property transaction by entering the
      136 words
    • 261 16 For further information on which newsstands carry Her World, Go, Singapore Business, Home A Decor, Young Parents, please call our Customer Services Section on 1800-749-2577. 5Hp A. 24-hr service which provides you W M UH J real-time stock information and a portfolio manager to help keep track of your stock!
      261 words

  • EXECUTIVE Lifestyle
    • 1696 17  -  COVER STORY How will the change of regime affect the ex-colony's antiquities trade? iola lemzi reports IOLA LENZI WITH the dust settling after the ceremonies marking its return to China, Hongkong is getting back to business as usual. Many in the financial community are
      1,696 words
    • STRAWS In The Wind
      • 69 17 SOMETIMES it's hard to tell if someone is trying to be helpful or is just missing the point. After receiving a list of questions from a journalist, a company's public relations manager called back and left a phone message, saying: "I'm afraid my bosses don't want to
        69 words
      • 145 17 SO YOU think it's bizarre that boxer Mike Tyson bit off a chunk of skin and cartilage out of Evander Holyfield's right ear? So did the popular press, which couldn't wait to sink its teeth into the incident. Here's a selection of headlines inspired by that
        145 words
    • PROFILE
      • 1521 18  -  Ban Hin Leong chairman Richard Lim talks to cobduib kerb about his business philosophy and his company's property projects CORINNE KERK IN Ban Hin Leong" s corporate video, chairman Richard Lim appears somewhat ill at ease in front of the camera. He talks briefly and
        CHRIS LOH  -  1,521 words
    • PURSUITS
      • 1339 19  -  Pottery-Mart's Ricky Goh tells cordihe berk how he got started in the business CORINNE KERK POTTERY-MART at Anchorpoint may be a modest little shop at 826 sq ft, but you'd still never guess that this outfit was the latest product of a business enterprise
        CHRIS LOH  -  1,339 words
      • 776 19 DURING the best-publicised event in June, the Festival of Asian Performing Arts, there were moments of high drama, comedy, and breathtaking entertainment. There were also a few odd decisions made, and a couple of misses to go with the hits. In true Letterman style, all the way
        776 words
      • 753 19  -  THE ARTS Initial results indicate a success, with 12 of the 22 performance groups selling out their shows By) Ben Munroe FOR three weeks in June, the Festival of Asian Performing Arts (Fapa) was all over the media and drew audiences to
        FILE PHOTO  -  753 words
    • 756 20  -  NIGHTSPOT Lt lode at Cbrfca Qn*y stocks nnnareos n DOvues in somewbitcnunped premises By) Ben Munroe ASK few the wine list at Le Aussie, the latest addition to the growing wine bar scene, and the staff will not hand you a bulging book. Rather,
      SIEW YAW HOONG  -  756 words
    • 626 20  - A giant snake —but there's no bite- bite CINEMA Some ligithearted viewers may be amused by Anaconda's ridiculous plot and finale but most will probably be irritated by the silliness By Susan Tsang The members of a film crew going down the Amazon encounter a giant snake that eats them
      626 words
    • 588 21  -  CINEMA A complex plot about a White House cover-op is competently handled in Mnrder At 1600 By Susan Tsang WASHINGTON DC, the one-time murder capital of America, is a dangerous place. One evening, in a lavatory at 1600 Pennsylvania Avenue, a woman is discovered, stabbed to
      588 words
    • Article, Illustration
      408 21  -  Compiled by M Yasotha COMCBRTB Violin Recital by Earn Ning Singapore-born Kam Ning's programme includes Beethoven's Violin Sonata No 8 in G, Grieg's Violin Sonata No 3 in C minor and Nathan Milstein's Paganiniana for Solo Violin. Carole Presland is the pianist. July 14, Bpm at Jubilee Hall,
      408 words
    • EPICURE
      • 847 22  -  Paolo and Ping offers Chinese and Italian cuisine but not on the same plate, jamb be samples its two-restaurants-under-one-roof menu JAIME EE Mixed marriages have been known to work, especially when each partner's best qualities are taken and put together in a successful combination.
        847 words
      • 721 22 SINGAPORE FOOD FESTIVAL THE Singapore Food Festival is here again, and with it, the many cooking competitions and efforts to make and break culinary records from now until July 31. But frankly, we're more concerned with what's going to be placed before us at the
        721 words
      • 729 22  -  RESTAURANT Hie new Scotts Walk restaurant beckons diners with its kind music and decor By, Jaime Ee IT'S BEEN a long time since we've seen any activity at the old Metro Orchard premises that a few years ago saw some obscure sports bar disappear
        CHRIS LOH  -  729 words
    • Article, Illustration
      1231 23 AildkHod To Lot*. Jilted by their respective lovers, Meg Ryan and Matthew Broderick join forces to take revenge. Lido: 11; <" 9.15. Republic: 11.45pm. Jubilee: 5.20pm. Bishan: 10.10; 12.40; 9.15; 11.45. Tiong Bahru: 10.10; 12.40; 9.15; 11.45. Boon Lay: 10.45; 1.15; 6.45; 12.15 am. Tampines: 11; 4.30; 9.20; 11.50.
      1,231 words
    • TRAVEL
      • 1054 24  -  Auvers-sur-Oise was where the great painter sought solace in his last days, ooh hwbb lewo finds the idyllic hamlet little changed from van Gogh days GOH HWEE LENG IT IS easy to see why the great painter Vincent van Gogh chose to stay in Auvers-sur-Oise
        1,054 words
      • 487 24 The restored castle now houses the world's first multimedia exhibition on Impressionism THE starting point of any visit to Au-vers-sur-Oise has to be at the Chateau d'Auvers, a 17th Century castle which was painted by Vincent van Gogh in 1890. Completely restored at a
        487 words
  • Page 17 Advertisements



  • Page 20 Advertisements
    • 51 20 For real- time stock 11 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 FOUND SOMETHING? Locate its owner through Qassificahon 821 (Found). Simply call C.A.T.S. at *****-737-1166 for this free service. Anothf CtaMWUd
      51 words
    • 82 20 J1& MBi y \Wi■WW»ißpßHpß^^Up IrWPßßWß^BPj^^^^^^^^^^B .1 f i BB ..I Obs* *3I _r. I fc>. *&L Kl—_.njUUff I «w ft I t ill A IgMr I I I I KIP 1h -ii 1 Kfttil p** f I f n A ""iffi-wS. ,B ii, 111 1 JLM ~m SINGAPORE'S MOST INSPIRING
      82 words

  • Page 21 Advertisements
    • 239 21 Where to wine, dine and entertain... Wkat lwtter way to celebrate a great week than Sunday Brunch at The Cafe-in-The-FVk? Enjoy the (inert brunch and service at only $28* per adult (only $14" (or the hid*). Then toast your good fortune with Gold Sett Champagne, each glass glittering with real
      239 words
    • 214 21 HAPPY HOURS PRICES AT LUNA COFFEE LOUNGE (LEVEL 2) Se CHIVAS REGAL 12 YEARS 99.0tH-*+ %J JOHNNIE WALKER BLACK LABEL S 99.0H-*+ w HENNESSY VSOP S W.WK++ MARTELL VSOP 99.00+++ /UX^f MARTELL CORDON BLUE S2So.o9+++ HENNESSY XO $25°.«>+++ >^LN^j Happy Hours 5.00pm to 9.00pm (Mondays V to Fridays) I BUY
      214 words
    • 206 21 Bwhat happens r WHEN YOU ADD I A DASH OF- L 5 ITALIAN PASSION j WITH A PINCH OF ft CHINESE WISDOM? 9 t You be the Judge. J 1 SINOAPOBI X Opening hours from 11.30 am to 12.30 am M 23 Scotts Road, Singapore *****0 6 J For reservations,
      206 words
    • 111 21 sensationaJ KEBABS From Lobster Bhopall to Garlic Chicken Tikka to Paneer Kati Kebab, you will definitely be spoilt for choice on the variety of Kebabs available at the Rang Mahal this July. Vrrmaimtibly priced front $38.50 For reservations, ptease ftJn&lW(k4b cat *****66ixt 1107 >— tol»«nDB t_H Jutoa *amL*amm WHU. W\M
      111 words
    • 76 21 24-hour Coffee House lat floor The Chicken Rice Capital Of The World 333 Orchard Road, Singapore *****7. Tel: 737 4411 Uelicious While we 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
      76 words


  • Page 23 Miscellaneous
    • 2134 23 TODAY'S TV Cinema II Rich Man. RECOMMENDED vuswlMO L4B Chinese Top 20 CountIXOO NN TV Innovations. down (Music). Pminial toct fnr him to Mexico to recover a Lo l i S i»^ TP T Ur S3B Lives And Performances. Vyl ULldi lt?Ol IUI HofmHethinTC Highlights 1997. 438 TV Innovations. girlfriena.
      2,134 words