The Business Times, 22 November 1997

Total Pages: 24
1 24 The Business Times
  • 14 1 THE BUSINESS TIMES MITA (P) 023/12/96 85c SINGAPORE Internet: http://www.asial.cora.sg/biztimes WEEKEND EDITION, NOVEMBER 22-23,1997
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  • 777 1  -  Move prompted by US, Japan reluctance to grant bilateral leans; won, stocks ralfy From Moon Ihiwan in Seoul SOUTH Korean Finance Minister Lim Chang Yuel announced yesterday that his country will ask the International Monetary Fund (IMF) for a bail-out package of US$2O
    REUTERS  -  777 words
  • 899 1  -  4-4% recovery also helped by ringgit's strengthening By Meera Tharmaratnam in Kuala Lumpur MALAYSIA'S benchmark index overcame a morning slump to gain 4.37 per cent after government leaders signalled that banks would not be forced to bear the burden of
    899 words
  • 315 1  -  By. Ang Wan May [SINGAPORE] Visitor arrivals in Singapore slumped 17.6 per cent in October against the same month last year, no thanks to the regional currency turmoil and the haze from forest fires in Indonesia. It was the most drastic drop in monthly
    315 words
  • 710 1  -  Reports by I Conrad Raj, Larry Wee [SINGAPORE] Singaporeans and analysts based here have reacted with a mixture of puzzlement and annoyance to allegations by Malaysian Prime Minister Mahathir Mohamad that many of the negative rumours on Malaysia originated from Singapore. Dr Mahathir
    710 words
  • Page 1 Advertisements
    • 103 1 411 SIDE Tmißg to US equities are too rfcky; Asian stocks are still falling. So European stocks may be an excellent solution for medium-term investment Pg2 liiingmg fuwam SIA is expected to announce on Monday a new bilateral partnership with Germany's Lufthansa, as speculation mounts of a break-up with Swissair,
      103 words
    • 236 1 Mora reports in Markets in Turmoil, Pg 4 New attraction at The Paramount Restaurant. <1* Come and experience the Volcanic Surprise today! "The Volcano" our superlative seafood hot pot /W This popular dish is a do-it-yourself meal which is fun for the whole family or for ■Wjf groups of friends.
      236 words

  • FOCUS: PERSONAL FINANCE & INVESTMENT
    • BULL`SEYE
      • 602 2 Flaures denote number of respondents Those polled foe their views oa the Sinmors ttockmsrket outlook for ml week were: Deutsche Mor ■Ml Grenfell. fraser Securities, CK GaSTINC Baring Securities. Kim Eng Securities. Phillip Securities, mdosuet W1 Csrr mo ♦(Sell) BZWPacific Union, Nov 20,51.81 We have downgraded our
        602 words
      • Article, Illustration
        385 2  -  Tim Greston Moholif-Aypltfito HE current crisis of I faith in the Asian X growth story is overexaggerated, both in the market's current pricing and in the media. As most know, markets, especially in emerging countries, tend to overshoot on the upside as well as on the downside.
        385 words
    • 1067 2  -  Against volatile US, Asian equities, European blue chips offer some relatively secure upside ahead of EMU: bankers By\ Shiv Taneja [SINGAPORE] IF you are one of those who believes it is too dangerous to get into US equities now and too early for Asian stocks
      FILE PHOTO  -  1,067 words
    • 507 2  -  STB OV THE RWUOMSINDONESIA From, S N Vasuki in Jakarta INDONESIAN stocks slumped to a four-year low this week on a variety of concerns. Foreign and local investors, who appeared bullish when the government announced a US$23 billion (5536.8 billion) IMF-led stabilisation package
      507 words
    • 582 2  -  Byi Christopher Tan [SINGAPORE] In early April, we ran an article which Mid COE premiums would soon test record highs. Although the article drew unfavourable feedback from some quarters, we were vindicated. Premiums started to spiral that very month, with Categories 1
      Source: LIN  -  582 words
    • 618 2  -  They can provide exposure to different markets, industries, economic cycles Byi Caroline Meakin IT cannot be emphasised too much how important it is to spread risks by diversifying across a variety of assets and across a range of investments within each asset class.
      618 words
  • Page 2 Advertisements

  • SINGAPORE AT HOME & ABROAD
    • 245 3  -  From Quak Hiang Whai in Hongkong PROPERTY surveyors and valuers from Hongkong and Singapore forged a closer link yesterday when their respective industry bodies sealed a membership reciprocity agreement here. Signed by the Singapore Institute of Surveyors and Valuers (SISV) and the Hongkong
      245 words
    • 440 3  -  Cooperative also said to have secured Yaohan's coveted spot in Thomson Plaza By. Ang Wan May NTUC Fair Price is embroiled in a showdown with French hypermarket Carrefour over Far East Organization's Hougang Point. The cooperative has also just secured Yaohan's coveted spot
      FILE PHOTO  -  440 words
    • 304 3  -  By 1 Toh Han Shih CENTRAL Provident Fund (CPF) members will soon be able to read their CPF statements on the Internet, and employers will be able to submit their monthly CPF contribution payment details online. From Dec 29, CPF members through the
      304 words
    • 250 3  -  By Jennifer Lien SINGAPORE Technologies has agreed to help pay the compensation benefits of employees terminated by whollyowned disk-drive subsidiary Micropolis, which is being wound up. In a letter to employees obtained by BT and dated Nov 18, Sing Tech
      250 words
    • 352 3  -  Pacts seen helping to sell Singapore ONE network overseas From Yang Razali Kassim in Vancouver CANADA and Singapore were scheduled yesterday to sign more than Cslso million (*****.9 million) worth of agreements in the information and communications technology sectors. A statement issued
      352 words
  • Page 3 Advertisements

  • MARKETS IN TURMOIL
    • 595 4  -  But region's future remains good if it acts fast and shows political will By. Larry Wee [SINGAPORE] Expect another six to nine months of volatility in Asian financial markets, now that South Korea has joined the list of battered economies, say
      595 words
    • 311 4 Bloomberg News [JAKARTA] Bank Indonesia Governor Soedradjad Djiwandono met with a group of about 200 bankers yesterday and encouraged them to cut the high domestic interest rates that have threatened to drive some companies out of business, bankers that attended the meeting said.
      Bloomberg News  -  311 words
    • 88 4 Reuters [KUALA LUMPUR] Malaysia will allow offshore banks to invest in Malaysian ringgit money market instruments subject to a limit on the value of investment per bank from January 1, 1998, Bernama news agency said yesterday. Quoting a speech prepared for delivery by Finance
      Reuters  -  88 words
    • 375 4 AFP Reuters [KUALA LUMPUR] Malaysian Prime Minister Mahathir Mohamad plans to take his campaign for new economic measures to businessmen, trade unions and media over the weekend, a spokesman said yesterday. The spokesman said Dr Mahathir planned to address about 60 business leaders this
      AFP; Reuters; REUTERS  -  375 words
    • 315 4 ■LABUAN Bernama MALAYSIAN Deputy Prime Minister Anwar Ibrahim said yesterday the government was not consulted on the restructuring exercise of Renong Bhd and United Engineering (Malaysia) Bhd (UEM). 'The deal is a private exercise, it has not been reported to the government and
      Bernama  -  315 words
    • 202 4 AFP (BANGKOK) Thai Deputy Finance Minister Pichet Phanvichartkul said yesterday that foreign creditors have agreed to roll over some of the billions of dollars owed them by Thai firms in short-term loans falling due by the end of the year. Mr
      AFP  -  202 words
    • 405 4 Govt must raise more forex, reform banks and firms: analysts AFP [SEOUL] Reckless debt-fi-nanced expansion by giant conglomerates and an outdated banking system triggered the financial crisis that forced the once dynamic South Korean economy to seek International Monetary Fund help, analysts said
      AFP  -  405 words
    • 199 4 Reuters [HONGKONG] Hongkong stocks stormed to a higher close yesterday, boosted by a combination of positive local and regional factors, and brokers said the index should trend higher next week but trading would remain volatile. "We have seen a combination of positive events today,"
      Reuters  -  199 words

  • REGION
    • 571 5 TOKYO They cite recent poor consumption figures, impending fallout from Asian turmoil Reuters JAPAN'S feeble economic performance over past months and the spectre of growing fallout from turmoil in Asia is prompting economists to cut forecasts for Japanese growth in this fiscal year
      Reuters  -  571 words
    • 205 5 TOKYO AFP JAPAN'S three opposition parties yesterday submitted a no-confidence motion against Finance Minister Hiroshi Mitsuzuka following the collapse of one of the country's top 10 commercial banks. The three parties the New Frontier Party, the Democratic Party of Japan, and Taiyo Party jointly took the
      AFP  -  205 words
    • 361 5  -  HONGKONG By* Quak Hiang Whai A FORMER financial controller of the Allied Group wanted in Hongkong for alleged fraud and conspiracy was set free in Australia yesterday after the New South Wales Supreme Court ruled an extradition agreement between Hongkong and Australia ended after
      361 words
    • 216 5 TOKYO AFP SOME 50,000 Japanese port workers launched a 24-hour nationwide strike yesterday, angry at what they see as Tokyo's agreement with Washington that they reform cargo-handling procedures. "We are really angry at the Japanese government which made a deal with the US
      AFP  -  216 words
    • 147 5 BANGKOK Reuters THAI Prime Minister Chuan Leekpai keeps forgetting he's not in the opposition any more. On two occasions the newly-appointed premier followed habit and used opposition facilities instead of those aUotted to the prime minister. Mr Chuan surprised his rivals when
      Reuters  -  147 words
    • 460 5 FRANKFURT Turmoil will probably make Aman central bankers reassess position: 6IC official Bloomberg CENTRAL banks in Southeast Asia, seeking a better haven from the currency market turmoil, may switch some reserves from US dollars into Europe's future single currency, a senior manager of
      Bloomberg  -  460 words
    • 375 5 BANGKOK Opposition party not expelling 12 MPs who vow to stay with govt AFP Reuters NEW Thai Premier Chuan Leekpai won a temporary reprieve yesterday in his battle to retain a workable parliamentary majority as 12 Prachakorn Thai Party (PTP) MPs
      AFP; Reuters  -  375 words
    • 118 5 [SYDNEY] Aquarium maintenance diver Giles MacLeay yesterday cleaning the bottom of a coral fish tank at Sydney's new Star City Casino. The casino s two aquarium tanks, which contain reef fish from Australia's Great Barrier Reef, cost Asl.3 million (SSI.4 million) in total. The ASB76 million casino
      REUTERS  -  118 words
    • 180 5 ■HONGKONG AFP HONGKONG is to change its land auction procedures after a woman hoaxer wrecked a multi-million dollar land auction by making a phoney winning bid, the government said yesterday. Prospective bidders at land auctions will now be required to register with the
      AFP  -  180 words
    • 151 5 KUALA LUMPUR Reuters EIGHT hundred Mercedes Benz cars are stranded at a port in Malaysia as authorities decide whether to allow them into the country, the national Bernama news agency said yesterday. "It's true that the cars have arrived at Port
      Reuters  -  151 words
  • Page 5 Miscellaneous
    • 372 5 CRYPTIC CROSSWORD 29 Cheering drink gin sling (9) 30 S rt f duplicate 8 Reorder night drug please. YESTERDAY'S SOLUTION This one? (8-7) uuiliiMJiMJMßl DOWN 15 Record new hit in branch us--1 Experiences one isn't glad to mathematicalaid(9) M F fn s jn*N N i£H-M R H 1 recall (7,8)
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  • THE WORLD
    • 551 6 NEW YORK But negative pressures may rise next year if domestic markets are volatile Reuters THE financial crisis plaguing South-east Asia will probably shave a quarter of a percentage point off US gross domestic product (GDP) growth in
      Reuters  -  551 words
    • 476 6 THE regional financial turbulence requires bold leadership among Asia-Pacific economies to forge ahead with economic liberalisation, not the mere setting up of a funding facility to bail out countries in crisis. While the Asian financial facility agreed upon by Apec finance officials this
      REUTERS  -  476 words
    • 678 6  -  APBC SUMMIT In whatever form the proposal now takes, It stakes new lines for IMF's role In Akla Reports from Yang Razali Kassim in Vancouver THE Canadian official, in a catchy play on words that reflected his own stand, described the International Monetary Fund (IMF)
      678 words
    • 290 6 LONDON Reuters THE Bank of England (BOE) on Thursday stressed that Britain was unlikely to join a single European currency before the next British election, due by 2002. A BOE spokesman was commenting on an article due to appear in yesterday's edition of the Germah
      Reuters  -  290 words
    • 563 6  -  NEW DELHI No signs of quick end to fend between Congress Party and ruling coalition By Rajendra Bajpal THE running feud between India's ruling United Front coalition and the Congress Party without whose support the government could fall showed no
      563 words
    • 422 6 WASHINGTON Bloomberg GEORGE Soros has asked the Securities and Exchange Commission to keep certain equity positions held by Soros Fund Management LLC secret, the first time the billionaire investor has tried to take advantage of a little-known rule. Institutional investors
      Bloomberg  -  422 words
    • 38 6 [LONDON] The Queen smiling as she is given a "Happy Anniversary balloon as she walks from Westminster Abbey on Thursday. Foreign royalty and other dignitaries gathered to celebrate her 50 years of marriage. REUTERS
      REUTERS  -  38 words
  • Page 6 Advertisements
    • 128 6 MASTER OF MANAGEMENT AND PROFESSIONAL ACCOUNTING ilk University of Toronto Faculty of Management The only program of its kind in Canada combining education at the Master s level in Management and professional level in Accounting. To learn about the many advantages of this unique program, come to our INFORMATION SESSION
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  • Page 6 Miscellaneous
    • 37 6 DOOHESBUBY By Garry Trudeau VPG T M£U l NK \r*cKer,*t9.oaucus-J iswrsycuß y&i kxjurnpkali \PRAcn-W MR \*eiCOMC BHOCTO V&Z P J22L V I%In HAU&THeSAHB IptU/f/j AQMfT BtACK\ I MUCH*. PJ 9 FfNePLAC&KXJ s PGOPI&, BUT UAT/ON RBMBMOBR.IN 1
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  • COMPANIES & MARKETS
    • 391 7 Partnership likely to cover everything from code-sharing to marketing to flight coordination Bloomberg [FRANKFURT] Deutsche Lufthansa AG and Singapore Airlines Ltd are expected to announce a bilateral partnership on Monday, marking the entry of the latter into a new alliance. The move
      Bloomberg  -  391 words
    • 411 7  -  Group plans chain of Planet Fitness gyms in Asia Pacific By, Ang Wan May [SINGAPORE] Listed shipping and property group Hai Sun Hup is muscling in on the gym business in the region. It plans to develop a chain
      411 words
    • 680 7  -  HOCK LOCK SIEW Lee Han Shih KEPPEL LAND is not known as a market leader in the private housing market here. But very soon, it could be. And that is bad news for other developers. KepLand will launch its Villa Verdi
      680 words
    • 273 7  -  From, Russell Baker in Sydney THE Government of Singapore Investment Corp (GIC) has been one of the major winners from the A 514.3 billion (5115.8 billion) privatisation of Australian telecommunications giant Telstra. GIC was allocated 20.38 million As 2 shares in the
      FILE PHOTO  -  273 words
    • 86 7 Bloomberg [KUALA LUMPURJ Hwang DBS Securities' syndicated loans were downgraded by Rating Agency Malaysia (RAM), due to risks in its stock brokerage practices. RAM said it cut its shortterm rating for Hwang-DBS' 150 mUlion Malaysian ringgit (5568.3 million) loans to P3 from P2.
      Bloomberg  -  86 words
    • 363 7  -  Move follows sale of Parkway stake less than 6 months ago By, Jennifer Lien [SINGAPORE] Malaysia-listed Hospital Pantai, which recently sold a 19 per cent stake in healthcare group Parkway to DBS Land, has become a substantial shareholder of Ses-daq-listed
      363 words
    • 195 7 Bloomberg [SINGAPORE] Singapore Telecom shares rose 3.3 per cent as investors flocked to buy the stock as a safe haven amid the regional stock market and currency turmoil. Shares in the former telephone monopoly, known as Sing Tel, rose 9 cents to $2.84, the
      Bloomberg  -  195 words
    • REGIONAL COMPANIES
      • 402 8  -  Another 3 companies all set to be floated by year-end By, Annette Pan [SINGAPORE] Initial public offerings are continuing apace despite the regional stockmarket and currency turmoil, with another three companies set to float on the local bourse before the year is
        402 words
      • 244 8  -  From. Al Labita in Manila A LISTED unit of Singapore's City Development Ltd (CDL) has offered to buy back its shares to enhance their traded value. In a report on Wednesday to the Philippines Stock Exchange, Grand Plaza Hotel Corp (GPHC) said the
        244 words
      • 301 8 Operations in HK, Singapore and London affected Bloomberg [HONGKONG] Lehman Brothers Holdings Inc will sell its private client businesses in Hongkong, Singapore, and London to Prudential Securities Group Inc of the US for an undisclosed price. Lehman will also move its
        Bloomberg  -  301 words
      • 262 8 Bloomberg [HONGKONG] Kong Tai Inter national Holdings Co, a Hongkong property investment company, said it will team up with businessman Lam Chinchun and the Bank of China to buy control in SHK Convertibles Ltd. Kong Tai, Mr Lam and China
        Bloomberg  -  262 words
      • 523 8 More leaves most of its 2,700 workers without jobs Reuters [HONGKONG] Almost 3,000 workers were fighting for jobs or compensation as the Japanlinked Yaohan department store empire shut its doors yesterday and faced liquidation amid a pile of debt. But a
        Reuters; AFT  -  523 words
      • 299 8 Bernama [BUKIT MERTAJAM] The MBf Education Group will develop an education park at Padang Meha in Kulim, Kedah, next month, MBf Capital's chief operating officer Loy Teik Ngan said yesterday. The project would be known as Taylor International College. The education park is
        Bernama  -  299 words
      • 228 8 [SINGAPORE] Sesdaq-listed Giken Sakata's net profit for the half year to September fell 3.3 per cent to $1.06 million. Turnover tumbled 67.6 per cent to $68.3 million, due to "substantially reduced orders from a major customer", the group said yesterday, without naming the customer.
        228 words
      • 184 8 Bernama [KUALA LUMPUR] Tenaga Nasional, in welcoming the move by the government to take over the Bakun dam project, said it was ready to offer its services to the new owners to manage the project, if and when the government decided to resume its
        Bernama  -  184 words
      • COKMPANYBriefs
        • 106 8 [SINGAPORE] Jurong Inspection Centre, a venture between CIAS Enterprises, SBS Engineering and CWT Distribution, is raising its motorbike fee from $8 to $15; cars, cabs and light goods vehicles will now be $50 ($25 previously); buses and heavy vehicles with two axles, $60 ($30); those
          106 words
        • 61 8 [SINGAPORE] Property firm Bukit Sembawang Estates' net profit for the first half to Sept 30 fell 46 per cent to $8.36 million from $15.29 million previously. Turnover was down, too: $20.95 million this time against $31.32 million. Earnings per share for the CPF trustee
          61 words
        • 61 8 [SINGAPORE] Furniture giant Courts Singapore is leasing 19,687 sq ft of additional showroom space to expand its Ang Mo Kio store for electrical appliances as well as information technology products. It will also enlarge its furniture range, the company said yesterday. The official
          61 words
        • 23 8 [SINGAPORE] Pacific Century Regional Developments has appointed Peter Allen an executive director and a member of its audit committee.
          23 words
        • 32 8 [SINGAPORE] Fu Yu Manufacturing has raised the paid-up capital of Fu Yu Moulding Tooling (Shanghai) Co Ltd to US$3.5 million (555.6 million) from US$2 million.
          32 words
        • 29 8 [SINGAPORE] IMM Multi-Enterprise Ltd's wholly-owned Yaohan Whimsy Singapore Pte Ltd has changed its name to Whimsy Singapore Pte Ltd with effect from Nov 13.
          29 words
    • INTERNATIONAL COMPANIES
      • 234 9 Bloomberg [TOKYO] Nippon Telegraph Telephone Corp, the world's largest phone company, reported its group net profit rose about 70 per cent to 178.3 billion yen (552.25 billion) for the six months through September. An exact comparison isn't possible because this is the first
        Bloomberg  -  234 words
      • 482 9 Losses piling into trillions of yen as hanlrg tflkft maw attff cats, unload assets Bloomberg [TOKYO] Japan's largest banks yesterday projected trillions of yen in losses for this year as they try to rid themselves of bad loans that have piled up
        Bloomberg  -  482 words
      • 312 9 FT [LONDON] Shares in Gucci, the Italian fashion house, soared by 5.80 florins to 78.80 florins in Amsterdam on Thursday amid speculation of a takeover bid from LVMH, the acquisitive French luxury goods group. LVMH, which already owns a cluster of French luxury labels
        FT  -  312 words
      • 304 9 MCI bags USs6oom contract to build new high-volume network Reuters [WASHINGTON] Looking to the future but with one eye on last month's stock market plunge, Nasdaq on Thursday agreed to pay US$6OO million (*****.3 million) to more than quadruple the computer-driv-en stock market's trading capacity. The
        Reuters  -  304 words
      • 290 9 SAP reviewing rating of firm's long-term debt for downgrade Bloomberg [TOKYO) Moody's Investors Service cut Yamaichi Securities Co's debt rating to junk, saying it questioned whether Japan's fourth-largest brokerage can be profitable again. "Reduced funding availability in combination with an already reduced capital
        Bloomberg  -  290 words
    • SHIPS IN PORT
      • 718 9 Vtud Voy Mo Bfth Arrival Papartan JM|M taM *a»21 JOI 22.V0300 tM Jav *****7 JOI Ma«n4l 2111/2359 mm st* $7 ottm mi *m»> 2111/2300 Kinkn am? JOI *****30 UfD *M21 JOI llliRltl 2 2.IV0 TOO to *****T JIM MoofMt 21TI/22JO MkW 1270* JOI HmoM* 211V2000 Cs«CN« JM Ma«M
        718 words
      • 1499 9 RECEIVING OF EXPORT Fa CONTAINERS AMO La CARGO Rftls SWp Voy Wo m/mr Nriod Frow T> Frw tat*) torn 24/1300 M IVBCC 2VM4 zvmo 2VBM 21/1*54 :.-»c a wm 22/0*51 22.0100 a WM BMR iuvxk J MM 22/MM tUMN 4 a/wo 22/mm a/nw «omt oiii zvnoo i« am
        1,499 words
    • FINANCE & COMMODITIES
      • 439 10  -  Buying deflates in Q3 after first-half surge; metal used as safe haven in N Asia From Neil Behrmann in London GOLD demand in South-east Asia has collapsed because of the region's currency and financial crisis. Confirming earlier reports in BT, the World
        439 words
      • 243 10  -  By i Soh Tiang Keng (SINGAPORE] Sanyo Merchant Bank in Singapore is continuing with normal business despite the collapse of its parent company, Sanyo Securities, in Japan. Masao Nishi, managing director of Sanyo Merchant Bank (SMB), told BT yesterday that
        243 words
      • 436 10 USS/mark: The US$/mark started the week in lacklustre fashion, trading between 1.7238 and 1.74 for the first three days. It then made a push above 1.74 to touch 1.7430 on Thursday and was trading around the 1.7410 level yesterday morning. Despite the bullish tone displayed
        Source: DOS Bank  -  436 words
      • 150 10 Reuters [LONDON] Fierce competition in international commercial insurance and the strong pound have eroded revenue at Lloyd's of London insurance market, threatening to drive down profits this year, the Financial Times reported yesterday. The paper said figures published in Lloyd's monthly publication One
        Reuters  -  150 words
      • 262 10 Reuters [TOKYO] Kankaku Securities Co Ltd said oil Friday that it would gradually withdraw from its overseas operations, cut the number of its outlets in Japan and reduce its workforce. The second-tier securities house said in a statement that the moves are part
        Reuters  -  262 words
      • 222 10 SWim Report Reuters [SINGAPORE] Simex Euroyen futures steadied in late trade as uncertainty over Japan's use of public funds to stimulate its economy continued to take centrestage, dealers said. After a fairly volatile week, the June Euroyen futures traded within a tight two-and-a-half tick band
        Reuters  -  222 words
      • 146 10  -  MSCI TAIWAN FUTURES -By Ric Trotta By Ric Trotta, Floor Manager, Refco Singapore Pte Ltd [SINGAPORE] The Simex MSCI Taiwan Stock Index futures contract finished higher yesterday after a fairly lacklustre session. The November '97 contract closed at 326.9 with a gain of 7.1
        146 words
      • 237 10 ENERGY REPORT Reuters [LONDON] Oil prices edged lower yesterday as traders turned their attention from Iraq to a potentially stormy Opec meeting set to debate a plan to increase its official output ceiling. World benchmark Brent blend crude was trading down eight cents
        Reuters  -  237 words
      • Article, Illustration
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        1,389 words
      • 271 10 Bloomberg Reuters Tendon THE dollar fell against the yen in Europe as optimism grew that a crisis in Asian financial markets may be easing. Talk South Korea will ask the International Monetary Fund for aid for mounting debts helped the won stage its biggest one-day rally ever. That
        Bloomberg; Reuters  -  271 words
    • 1583 11 SICOMrUTUKBg Nov 21 KUNCR (MwwdMta« N d SJOfa) KSfCONTKACT($cMtxA« CIom VMnm Opm Hj9fc Low Srtt (toww) Iwttrtrt 127.75 J* 98 121.50 970 r#fc 98 ***** ***** ***** 450 1170 98 133.75 133.25 133.25 750 1770 fcr/JiNt 98 139.50 139.00 139.25 1550 ***** JwlM) 91 144.00 3075 Oct/Otc 98
      1,583 words
    • 1592 11 Bloomberg AFP Q|wa *wm JAPANESE stocks rose for a second day, led by banks, as the ruling Liberal Democratic Party moved towards using public funds to shore up Japan's rickety financial system. "Anxiety about the financial system has subsided now that the LDP is hammering out a concrete scheme,"
      Bloomberg; AFP  -  1,592 words
    • 2006 11 LONDON MwtfMt Nik* 31 Group 491 3 AB Ports 282.200 *.200 Attoy Notional 970 *9 AMod Oomocq 545 14 Am*c 129 -2 *K» Croup 165 2.400 •AT tod 540 5 BGPfc 279 n.600 BtCC 152.400 4.400 BOC Croup 962 -a M PotroMum 877.400 -L600 BTR 205.400 -.600
      2,006 words
    • Article, Illustration
      1577 12 AFP QHangSeng +497.52 SHARE prices surged nearly 5 per cent yesterday amid South Korea's decision to approach the IMF for an economic bailout and bolstered by Wall Street's overnight rally, dealers said. "The rise is largely pushed up by strong gains on Wall Street overnight," said Eugene Law, research
      AFP  -  1,577 words
    • Article, Illustration
      608 12 Reuters Shenzhen B Index -LO2 CHINA'S hard currency B shares ended at new closing lows for 1997 as sentiment was hit by disappointment that a national finance meeting failed to yield policies to boost the stock market, brokers said. Some analysts said they were forecasting the start of a
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  608 words
    • 390 12 AFP PI WP Index ****** TAIWANESE share prices edged up one per cent yesterday, boosted by a Wall Street rally overnight and a rebound of the Taiwanese and South Korean currencies following Seoul's decision to approach the IMF for an economic bailout. "Encouraged by heavy gains of US shares,
      AFP  -  390 words
    • 259 12 AFP n Wellington «&6S SHARES closed 0.2 per cent lower yesterday in trading dominated by stocks with exposure to crisis-ridden Asian economies. The NZSE-40 Index was down 5.65 points to 2,343.61 on turnover of NZ576.5 million with Telecom Corp up one cent at NZ$B.32 AFP w coow AN2 Banking
      AFP  -  259 words
    • Article, Illustration
      807 12 Reuters AFP PI SET Index jjl THAI stocks closed slightly lower yesterday as concerns about new share issues and corporate profitability outweighed the positive sentiment generated by a rebound in regional markets, brokers said. After a thin day's trade the SET Index pared losses late to end 0.59 points,
      Reuters; AFP  -  807 words
    • 410 12 Reuters rlComposite ladei ♦I7jW SOUTH Korea's won currency and stocks soared yesterday as investors welcomed the government's negotiations with the International Monetary Fund for standby credits to help overcome a currency crisis. The won closed at 1065.0 to the dollar, up sharply from Thursday's close of 1139.0. The Composite
      Reuters  -  410 words
    • 589 12 AFP FlADOnfaariei *47 AUSTRALIAN share prices jumped 1.9 per cent yesterday as investors moved in on stocks pushed below their value amid slipping commodity prices and negative sentiment from nervous Asian markets. The All Ordinaries index rose 47 points to 2,482.7. National turnover totalled 345.9 million shares worth A
      AFP  -  589 words
    • Article, Illustration
      700 12 AFP Q Composite Index 4,87 SHARE prices slipped 1.2 per cent despite a technical rebound in selective big cap stocks led by telephone monopoly Telkom and cigarettemaker Sampoerna. "I doubt if it was the genuine buyers who pushed up some stocks like Sampoerna. I suspect that some affiliated parties
      AFP  -  700 words
    • 304 12 AFP Q Manila -33M PHILIPPINE share prices fell 1.2 per cent yesterday as foreign investors sold second-lin-ers. "There is heavy foreign selling across the board for the second liners," said Didia Lemo of Trendline Securities Corp. The Philippine Stock Exchange Index fell 23.08 points to 1,849.67. Volume fell to
      AFP  -  304 words
    • KUALA LUMPUR STOCK MARKET
      • 438 13 Bloomberg F1 Composite Index *2147 MALAYSIA'S key stock index gained for the first time in eight days, led by Petronas Gas Bhd and Telekom Malaysia Bhd, as the ringgit strengthened against the US dollar. "The ringgit's strengthening has helped boost stocks," said Chong Sui San
        Bloomberg  -  438 words
      • 8501 13 INDUSTRIALS Commmt products T Lest VI Day Net Cop H>» Law ClW»—I HH OOP HMl U« M W 1*0 240 Ajinomoto 250 39 254 240 134 tOU 440 138 Angkasa 155 11 73 155 136 4.6 228.5 905 280 Apollo rood Hlg 340 28 43 340 280 9.9 136.0 IS5
        8,501 words
    • WARRANTS&OPTIONS
      • 220 14  -  WARRANT WATCH By. R Sivanithy IN a market that's been laid waste as badly as this one, anyone with money to spare can have a field-day picking out bargains. The catch of course, is the holding of cash many players are known to be
        220 words
      • 3636 14 MMDS, LOANS ft WARRANTS art *9*7 list V«4 Day LMt OooU Ht9« Ln StM Company S<l« COOO) Hl*h Lh Buyar Sadar Me* 68 la m 3000 m AM08 c5.5******6 18.5c i OS 70 19 18 18.5 81 15 3160 *Acar ******1 US$ 19 *0.5 36 19.5 19 18.5 19.5 131
        3,636 words
    • 2344 14 MALAYSIAN STOCKS jjk *f' 4 *I0B$ Cf Cr •MT Last V* Day Last Ouato Mv Mv VM Hat M Caa MN> Law Stoe Camp any Sate COOP) Hfi Lew 8uyar Sa8ar Cvr P/t t»i 478 78.5 mi SOOO A(SB 50c 95 td «-11 816 95 83 93 96
      2,344 words
    • STOCK EXCHANGE OF SINGAPORE
      • 1296 15 TUMtOVU 000) VAIUC £000) s± as Las as at as 82,774 44,784 149,338 208.9*0 4I.TN tMH3 i ftn40t» 15,177 33.095 '00,503 3*72* 140,229 Mo4tt» 1>32 2,280 4012 ON VMS «71 Pr opart'*! 13.376 JMM 41,142 48.404 '4.0*4 MM Pt»«vt4M«n 3,730 5,730 Mil >.351 Mining 1,007 1,007 Too 700 81W 4.419
        1,296 words
      • 4922 15 •r tr m m 19*7 Last Vol Day LMt Ouata W* Wv W Nat Cap Avg HH> LP» Wh Ci—mT 8p8t fO» m> L— —far «—ar CV H Wl >■» Ww INDUSTRIALS 1ST 40 a 1020 ACE Dynamics60c 43 -3 97 49 43 43 44.5 Mi 46 SM6
        4,922 words
      • 1079 15 1**7 Last vol Day LaatOvata on n* YM Mai C« w» f wwt c—mm «n room nmi l— 9»yar m» cw wi >— Prtca SUMO IM 7* 2000 AMHMfsSc HI in 130 1.0 10 0.1 1729 SXI 127 449 144 2049 tSMaOc 110 *2 244 310 309 3)0 312
        1,079 words
      • Article, Illustration
        46 16  -  -by Shiv Taneja CITYDEV closed 25 cents higher yesterday at $7.75 on a volume of 2.4 million shares traded, compared with its 10-day traded average of 1.98 million units. Almost all the technical indicators point to further upside in the medium term. by ShlrTanqja
        46 words
      • 220 16 Stocks ValMM SingTel 15c 19,797,000 •Innovest Bhd 12,0%,000 •RHBCap Wt99 11,068,000 'Magnum CorpSOc 9,375.000 •Reoong Mid 50c 8,258.000 *RH8 Cap BM 8,046,000 STIC 25c 8,991,000 IPC Corpn 5c 6,752,000 MS Land 6,026,000 •Stow Oarty 50c 5,734,000 Stocks StogTeM5c 55,790.402 U08 Foreign 44,221,294 DBS Foreign 23,272,251 City Oev 50c 18,744,614 OCBC
        220 words
      • 658 16  -  STOCK MARKET COMMENTARY Malaysian market tarns around to gain 4.4% on talk that the UEM-Renong deal may be aborted By R Sivanithy [SINGAPORE] A sudden reversal in Malaysia and heightened interest in Singapore Telecom were the main features in a relatively firm
        658 words
      • ON THE GRAPEVINE
        • 94 16 IN these terrible times of market tumult, Marc Faber, the original doomsayer, is finding his end of the camp getting increasingly crowded. David Fuller, in his Nov 14 Fuller Money report, paints a pretty dismal picture of the state of a£fairs. He reckons that currency devaluations,
          94 words
        • 117 16 SINGAPORE'S supermarket giant, NTUC Fairprice, will soon have a fierce supermarket rival, Tops, as its next-door neighbour at Clementi Central Tops, the Joint venture between the Kuok group and Dutch supermarket chain Royal Ahold, has taken over the supermarket operations of Oriental Emporium there.
          117 words
        • 201 16 CONSPIRACY theorists will love the latest issue of newsletter World Money Analyst, a product from Welt Research. According to the newsletter, the most powerful man in the world is not Bill Clinton or Alan Greenspan but a "shadowy figure behind the scenes in China". The man
          201 words
        • 83 16 INTERESTED in investing in Eastern European equities? There are no Singapore-authorised unit trusts currently available here that invest exclusively in those markets, but investment ipanager Templeton's offices in Hongkong have been mailing information packs on a recently-launched ftind in Hongkong that invests in Eastern European equities to
          83 words
        • 75 16 AT a recent securities conference, US investment bank Bears Sterns gave a little black bear to every participant as a souvenir. Well, for some, the bears made good presents for their kids, but for some of the equities dealers present, it was seen in seriously bad taste. As
          75 words
        • 30 16 OVERHEAD on why Coopers Lybrand and Price Waterhouse have merged. "So that Coopers has every justification to charge higher audit fees as they can now be called "Pricey Coopers!"
          30 words
  • Page 7 Advertisements
    • 127 7 It could be any number of i n anniversaries, ISO certification, pages but the cost of a special JL w*. JL JL JL ground-breakirvg ceremonies feature in our newspapers and topping-up ceremonies, will remain the same for you: $0. We will Since you have so much to gain and nothing
      127 words

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  • Page 14 Advertisements
    • 72 14 ■|L "Kelly" watch Wm. i W f W&t SotoAgwK: ''PvJMi r'mf fm dickson watch jewellery (S) pte ltd i if Tftlß L m*' IA wholly owned sobydar yof DICKSON CONCEPTS (INTERNATIONAL) UMTTH)) 391 A Orchard Road Ngee Ann City #17-06 Singapore *****3 i!j 3C j| 1 J J.J |f Available
      72 words

  • Page 15 Advertisements
    • 64 15 Hello? I'm calling I m so happy your advertisement in great...just like un P* 1 r (The Straits Times Classified... 1 I the ad J I TT< e Straits Times Classified- 1 you still have the puppy... J described J \lm going to take real good/ HMn. I'll be right
      64 words

  • Page 16 Advertisements
    • 779 16 BUSIM tSSS NotiCeS To advertise call toll-free 1800-741 1883 The secret of success is... Taking the right course, of course. Study the wide range of courses available in the Education/Training Section in the Classified Classifications 700 to 799. CAT.& In ihe uo of Ik Companies Act. Cap. 50 tad tie
      779 words
    • 126 16 It could be any number of anniversaries, ISO certification, pages but the cost of a special 1 VM. Jl Jl 1.1. ground-breaking ceremonies feature in our newspapers and topping-up ceremonies, will remain the same for you: $0, We will Since you have so much to gain and nothing organise sponsorship
      126 words

  • EXECUTIVE LIFESTYLE
    • 1631 17  -  jay ehwla talks with well-known Singapore architect Tay Kheng Soon as he prepares to wind down after three decades of practice and looks forward to a new phase JAY KHOSLA IT IS perhaps a little unfair to contrast architect with architecture, especially if the building
      PHOTOS BY ARTHUR LEE  -  1,631 words
    • STRAWS In The Wind
      • 34 17 A DINER at a bistro was overheard asking the waiter if the ice coffee on the menu would be served black or white. "Oh no," replied the waiter, "it's brown."
        34 words
      • 76 17 STILL on the subject of clueless staff, a customer who was trying to locate a Lonely Planet travel guide in a bookshop decided that her best bet would be to approach the sales assistant sitting behind a computer. "L-O-N-Y," the sales assistant began typing, then deleted
        76 words
      • 59 17 WE'RE ALL familiar with the "young infant on board" stickers we see as we drive behind cars with toddlers in them. But trust the army to add a twist to this. A fellow journalist gave the car on his left a wider berth than usual when
        59 words
      • 49 17 IT MAY be a subject of great fascination to new mothers, but we were rather alarmed by the title of a suggested interview with a paediatric specialist. The topic: Infant regurgitation and new management of regurgitation. Sounds like that should about cover all bases.
        49 words
    • LEISURE
      • 558 18  -  You can't blame tea drinkers for getting potty about Whittard's at Suntec City, says tamsuyhh TAN SU YEN The British have long believed that all the ills of the world can be made right with that perfectly brewed cup of tea. While the rest of
        CHRIS LOH  -  558 words
      • 881 18  -  TEA When the Ulfa rebels get restless, Calcutta is as good a place as any to learn more abont Assam tea By I Giles MacDonogh FT A FEW months ago, a scare hit the headlines of the British papers: the price of tea bags was
        FT  -  881 words
      • 664 18  -  NATURAL FOOD Hunting of gping green? It's a piece •f cake at Planet Organic Jaime Ee BABIES and pets may seem to be excluded from the organic food experience that environmentally conscious Singaporeans are only starting to enjoy. But not anymore. Vegetarian dog biscuits, organic
        ERIC CHU  -  664 words
    • 818 20  -  CINEMA Starship Troopers features a pretty uninspiring bunch of characters, but they're still preferable to the dysfunctional lovers found in She's So Lovely By\ Susan Tsang STARSHIP TROOPERS is a sci-fi film that seems to aim for the retro effect of World War II
      818 words
    • 715 20  -  CINEMA With its briskjadng, well-scripted dialogue and unrelenting suspense, LA Confidential is probably the best crime drama to come our way in years. It would be a shame to miss this one By I Shahiron Sahari LA Confidential, based tm James Ellroy's pulp novel,
      715 words
    • 633 21  -  NIGHTSPOT Friday nights at the. Ritz Carlton's Greenhouse will never be the same again By\ Ben Munroe EVERY Friday night, the chic Greenhouse Restaurant at the Ritz Carlton is transformed into rf dapce hall from the roaring Forties. The' sophisticated ambience remains, and the
      633 words
    • Article, Illustration
      351 21  -  Compiled by M Yasotha MUSIC Singapore Symphony Orchestra Jan Vogler is the soloist in Dvorak's Cello Concerto. Also on the programme is Mendelssohn's Symphony No 3. Shui Lan conducts. Nov 28 29, 8.15pm at Victoria Concert Hall. Tickets: $8,$13, $18, $25&$35 (concession: $5, $8 $12) available at all
      351 words
    • EPICURE
      • 706 22  -  FOOD That's foie gras, the city's most celebrated product By\ Sue Styles FT SYDNEY Smith was a spirited 18th-century English parson, a man of simple tastes and seductive theological arguments who famously observed that his idea of heaven was eating
        FT  -  706 words
      • 736 22  -  East Coast residents rave about the desserts at Cafe Cartel. But that's not all it has to offer, says Twnrin TAN SU YEN THE TELECOMS Directory Assistance could not shed any light on the exact location and telephone number of Cafe Cartel. But as friends who live
        PHOTOS BY CHRIS LOH  -  736 words
      • 563 22  -  PROMOTION When talent isn't enough to create a culinary masterpiece, try adding a little star temperament By' Tan Su Yen THREE Michelin star chef Marc Veyrat bursts into the room where we are waiting and launches into animated conversation with his fellow countryman, Marc Haerberlin, also a three
        563 words
    • Article, Illustration
      753 23 Allen Resurrection. Defying death thanks to DNA magic. Ripley (Sigoumey Weaver) is back and more determined than ever to destroy the biggest, baddest alien ever. This fourth Aliens instalment also stars Winona Ryder. Previewing at Lido, Republic, Hougang, Changi, Woodlands, Jurong, Choa Chu Kang, Century, Oriental, Whitesands, Mandarin, Empress,
      753 words
    • 125 23 Cathay Org Cathay 338-3400 Eastshore 346-1816 Orchard 235-8386 Picturehouse 338-3400 Yangtze 223-7529 BngWah Empress 777-5867 Jubilee 454-1640 Mandarin 292-9401 Marina 338-9719 Whitesands 585-1782 OoUMTmap Bedok 443-2405 Biahan 353-8885 Boon Lay 792-2788 Broadway 454-9:i94 Majestic 533-9032 Marina 337-9488 Pavilion 786-5788 Tarn pines 8 786-5788 Tiong Bahru 274-6588 Yishun
      125 words
    • COVER STORY
      • 1095 24 jWB/k San interview subject, Tay Kheng Soon never bores his views have wit and bite, but manage somehow to be BH more than soundbites. Draw swords with him and he rises to the occasion, lometimes with eloquence, sometimes on the defensive. In these excerpts from the
        PHOTOS OF AKITEK TENGGARA PROJECTS TAKEN FROM THE BOOK `LINE, EDGE AND SHADE' BY ROBERT POWELL  -  1,095 words
      • 97 24 TAT ON THE KARAOKE STYLE OF ARCHITECTURE 'Karaoke is joyful expression I think that is the driving force behind the architecture of our condominiums and shopping centres. They are really fun pieces that are out of tune. Unfortunately, this is not in
        PHOTOS, EXCEPT FOR 5, CHRIS LOH  -  97 words
  • Page 17 Advertisements
    • 8 17 Leisure I Time for tea HHIvkI el 2
      8 words
    • 196 17 Epicure Cafe Cartel EL gig u&mWßm Kota Kinabalu s Newest Attraction Will Be Even More Impressive. •> ?it& y >; < "3 V„ 5 ■HwSSpeY?. v JwPP* PASSAGES Ko,a KjnabaJui newest attraction may not be as large, i» but it will definitely leave you breathless. From the unique integrated rrson
      196 words

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  • Page 19 Advertisements
    • 1382 19 ADVERTISEMENT Between 23 26% of all international assignments are deemed to be failures 1 tfk The cost of a failed expatriate assignment is estimated to be no less than USDS2SO,OO0 2 The cause of curtailment or repatriation of failed assignees is most often cited as "cultural adaptation H Claire Bcswljl
      1,382 words

  • Page 20 Advertisements
    • 164 20 r 1 1 I jb fr •--1 •'-*•v A ii j ThatS good new to 1,2 million readers! Wff Jr u mmi'' anoii:r..- yeetr of significant growth for the group. I listings are significant milestones and it is to the 1 >' 1 19§l I &diß# advantage to ..~Mscr l-~~
      164 words

  • Page 21 Advertisements
    • 814 21 Where to wine, dine and entertain... t (»|aa Air Travel Insurance. BIH 2^***** Whit tetter way to celebrate a great week than Sunday Brunch at The Cafe-in-The-Rirk? Enjoy the finest branch and service at only $28" per adult (only $14* for the kids). Then toast your good fortune with Gold
      814 words
    • 121 21 »V I I I J Mae If. aa Mm wMM >/ seafood appetlaer baHet unfokls before r*m m Top of the »r. IHflfW\ piagapore'a Hlgkeat oa exciting aeafood creations prepared wkfc only <•* keaheai aeafood and bM*tlf«l vegetables. Mm ua lor ike peak of good Lunch: Noon to 2.3apan xarifttfnfasss
      121 words

  • Page 22 Advertisements
    • 138 22 HRM^^B &Mm Develop new takntsJo take your KJ I company even further, advertise I your apprenticeship schemes and I training programmes in the HTE IHuilHi I This special feature witi be pub- ished to coincide with the release ■-<-" mmiiHiii ant-Retease date oi'N'level results of the GCE 'N'tevei resute. /t
      138 words

  • Page 23 Miscellaneous
    • 2033 23 TODAY'S TV Frnmlilf M 2UM PM Muppet Babies V RECOMMENDED VIBWDVO r w M 130 Madeline. ••00 AM TVSN: Santa's Do It 3,00 Caroline and Her Uneasy race Batons,4pm,s im. tosrL»ici«oom. S t s Leaguemi. I TT^* 7 In "Intersections in Real ILOO TVSN: Summer Beauty tooVaAlif relations Time", Sheridan
      2,033 words