The Business Times, 15 May 1999

Microfilm: NL21496
Total Pages: 20
1 20 The Business Times
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  • Title Section
    Masthead
    14 1 THE BUSINESS TIMES MITA (P) 046/12/98 85c SINGAPORE InternetThttp:) ousiness-times.asial.com.sg/ SATURDAY, MAY 15, 1999
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  • Article
    MARKET SUMMARY
    60 1 ES IJH3J6 (+14.46) CI"-® 1 mm 796.70 (-3.96) W% smsci pototes U 280J0 (+1.80) STOCK MABXETIKDSCEB Friday Change KLSE COMP 76(182- *SU» NIKKEI „MW10J» -WM HANOSENO I2jKitt —-118.16 SET INDEX 4HW -tf» JAKARTA OOMP —W1JS +IW» MANILA OOMP _XMt» -li* TAIPH WPI 7JMUS—+17WJ SEOUL OOMP WM -tM CLSA
    60 words
  • Article
    FINANCE
    78 1 FOBEX BATES m st UBS L711 JJtt 170 El'ROfl S$/S$ per E) 1.0M LH4 DM U84 Sim YEN itu im* KM _UN Q.4M ma 7.7a 0.221 BAR 37.16 MM RUPIAH 7,860 0.822* 'Sito nounia '8t*Mmm FUME BATES SINGAPORE* fcffii KUALA LUMPUR UM JAKARTA 28.00 BANGKOK 147* MANILA OM BONO
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  • Article
    No tax breaks for property trusts in MAS guidelines
    847 1  -  Reits will also be subject to anti-speculation measures in force By) Lee Han Shih [SINGAPORE] The hopes of developers that real estate investment trusts (Reits) would help support property prices were dashed yesterday when the government ruled out a crucial tax
    847 words
  • Article
    Malaysia snubs World Bank loan, cancels IMF meeting
    650 1  -  Move comes after World Bank chief meets Anwar's wife From Eddie Toh in Langkawi MALAYSIA has snubbed a US$3OO million (*****.2 million) loan from the World Bank a day after its president James Wolfensohn met the wife of former deputy prime minister
    650 words
  • Article, Illustration
    Lock icon Use of fire to clear land still rampant in Indonesia
    676 1  -  Smoke plumes could bring conditions worse than '97 haze By\ David Boey [SINGAPORE] The smog that blanketed Singapore for several days last month shows that fire remains the tool of choice for Indonesian landowners to clear their land, said satellite
    Spot Image by CNES  -  676 words
  • Article
    SIA surprises with mere 0.1% profit drop to $1.03b
    743 1  -  Analysts had expected earnings to tumble 25% By Conrad Raj [SINGAPORE] Singapore Airlines yesterday reported that its net earnings for the year to March slipped by just 0.1 per cent to $1.03 billion, surprising analysts whose consensus forecast was for a
    743 words
  • Article, Illustration
    Lock icon Dow slumps 200 at 1.30pm
    683 1 AFP. Reuters, Bloomberg [NEW YORK] Unexpectedly high US inflation figures sent world bond prices and Wall Street skidding yesterday and caused panic on European stockmarkets as Investors pulled out for fear that interest rates in the world's largest economy were about to spike up. "The
    AFP.; Reuters,; Bloomberg  -  683 words
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      175 1 mgDE ImvUß A new purchasing managers' index (PMI) for Singapore has given the strongest indication yet that the economy is likely to shape up well this year, I*2 I KJ ■HkkwtfM BP endorses that dictum heartily. Not content with its merger with Amoco, it aims to became the world's second-largest
      175 words
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      8 1 US inflation sparks interest rate fears, Pg 8
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  • SINGAPORE AT HOME & ABROAD
    • Article
      New index gives rosiest outlook yet for Singapore economy
      535 2  -  PMI shows 6.8 point jump from March to 5&3 for April, highest this year Byi Anna Teo A NEW purchasing managers' index (PMI) for Singapore has given the strongest indication yet that the economy is likely to shape up well this
      535 words
    • Article, Illustration
      Lock icon Shaping up nicely
      40 2 Components of the Purchasing Managers' Index The PMI covers these Industries: Electronics Food, Beverage Tobacco Chemical Products Machinery Metal Products Petroleum Paper Products Textiles Transport Logistics Packaging Wiring Cables Pipes Source: S'pore Institute of Purchasing Materials Management
      Source: S'pore Institute of Purchasing & Materials Management  -  40 words
    • Article, Illustration
      Lock icon Sharif urges businessmen to invest in Pakistan
      318 2  -  By Eugene Low PAKISTAN'S Prime Minister Nawaz Sharif yesterday encouraged Singaporean businessmen to invest in Pakistan, saying that his government has taken "drastic measures to stimulate industrial and economic growth" in order to spur trade and investment. Mr Sharif said Pakistan has embarked
      SIEW YAW HOONG  -  318 words
    • Article
      Lock icon Chinese chambers of S'pore, M'sia to help resolve Clob issue
      263 2 Bernama [KUALA LUMPUR] The Singapore Chinese Chamber of Commerce Industry and the Chinese Chamber of Commerce Industry of Kuala Lumpur Selangor agreed that issues concerning frozen Clob-traded Malaysian shares were urgent and should be resolved as soon as possible. At
      Bernama  -  263 words
    • Article
      April trade data of key interest
      770 2  -  EYE ON THE ECONOMY Byi Anna Teo A NUMBER of economic indicators are being released in the coming week, starting with details of the first-quar-ter economic performance on Monday. But interest has largely moved beyond the Q1 report to the April trade figures due
      770 words
    • Article
      Lock icon Stronger team to emerge from Cabinet reshuffle: PM Goh
      407 2 Ministers will be able to broaden experience, he says The Straits Times THE latest Cabinet reshuffle will yield a stronger ministerial team because after this round, every minister would have broader experience. Prime Minister Goh Chok Tong said yesterday. The five
      The Straits Times  -  407 words
    • Article, Illustration
      Lock icon Honouring women of substance
      119 2 CLAIRE Chiang, Jannie Tay and Jennie Chua trooping on to the stage at Raffles Hotel yesterday at the "In Celebration of Women" dinner. The International Women's Forum (Singapore) and Women for Women Association held the annual celebration dinner to recognise six of their members for being
      ARTHUR LEE  -  119 words
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  • SIMGAPORE 1000
    • Article, Illustration
      Lock icon Big is beautiful in the oil industry
      1262 3  -  BP endorses that dictum heartily. Not content with its merger with Amoco, it aims to become the world's second-largest oil company by taking over Arco By] Eugene Low TO say that 1998 was an exciting year for British Petroleum (BP) is an understatement.
      FILE PHOTO  -  1,262 words
    • Article
      Why have local banks kept quiet about Clob?
      419 3  -  SATURDAY MAXLBAG Tye Kok Meng via Internet Singapore AFTER hearing what Senior Minister Lee Kuan Yew said of them, I have to agree that local banks, especially the Big Four banks, are seriously lacking in creative solutions as compared to most foreign
      419 words
    • Article
      Resolve issue in a business-like way
      376 3  -  FOCUS OM CLOB April Lin Singapore IT has been very interesting to note that Singapore is once again engaged in a tai-chi game with Malaysia except that, this time, it involves even the man in the street. What most people have failed to see
      376 words
    • Article
      Far too many stories— let's fight for our rights
      172 3  - Far too many stories let's fight for our rights Louis Tan via Internet Singapore WE have so Car seen and heard too many versions from the Malaysian parties. Dr M said it would be included in the bilateral talks. But Mr Daim said it's a private matter. The deputy PM
      172 words
    • Article
      Prepared to write off $200,000
      183 3  -  Steve Yeo Singapore I AM one of the Clob shareholders with more than $200,000 invested since 1993. The last lots of my shares were bought on March 3,1997. From the newspapers, I have noticed that Malaysian politicians have made twist-and-turn statements on the Clob share
      183 words
    • Article
      Resume trading but track short-selling
      153 3  -  Harry Lim via Internet Singapore I WOULD like to suggest the following "win-win" solution to the Clob issue: ♦The SES should resume trading in Clob shares. ♦Since the Malaysian authorities' main concern is "shortselling", the SES could then exercise greater control over short-selling by imposing
      153 words
    • Article
      Find fast way out for pre-Clob holdings
      146 3  -  Denis Distant via Internet Singapore THE Stock Exchange of Singapore must be aware that there are many Malaysian shares bought years before Clob or the scripless trading system. These shares are now frozen because SES gave the owners no option but to lodge
      146 words
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  • ASIA ON THE MEND
    • Article
      Astra debt rescheduling clears path for others
      615 4  -  US$ bondholders have approved plan to reschedule USsl.9b in debt Reports by\ Shoeb Kagda in Jakarta THE successful conclusion of PT Astra International's efforts to reschedule its debt could pave the way for other debt-ridden Indonesian companies to follow suit, bankers and market
      615 words
    • Article
      Jakarta to press on with bank reforms
      640 4 [JAKARTA] With Indonesia's broad economic stabilisation programmes starting to take effect, the government yesterday said it will now focus on pressing ahead with bank and corporate restructuring. In the latest letter of intent to the International Monetary Fund, the fifth economic review since
      640 words
    • Article, Illustration
      Lock icon Tokyo planners affirm end of slump is near, but still wary
      526 4 Housing has bottomed, but spending sluggish Reuters [TOKYO] Japan's Economic Planning Agency maintained for a third consecutive month its view that the economic downturn is coming to a halt, but also for a third month in a row fell
      Reuters; FILE PHOTO  -  526 words
    • Article, Illustration
      Lock icon KL steps up call for new financial architecture
      385 4  -  But it doesn't expect concrete proposal on hot money from Apec Frorn Eddie Toh in Langkawi MALAYSIA has stepped up the call for a new financial architecture to regulate the flows of short-term capital but it is not confident of achieving much
      AFP  -  385 words
    • Article
      Lock icon Thai economy's contraction phase is over: IMF
      464 4 There are dear sign* of recovery in some sectors Reuters [BANGKOK] Thailand's economic contraction after almost two years of recession is over and there are clear signs of revival in some sectors, a senior International Monetary Fund official said yesterday. "I think it
      Reuters  -  464 words
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  • THE REGION
    • Article, Illustration
      Lock icon Habibie named as Golkar's presidential candidate
      620 5 JAKARTA Move may rain party's chances in June general election: analysts Reuters, AFP INDONESIA'S ruling Golkar party yesterday chose President BJ Habibie as its candidate for presidential elections due later in the year. "Golkar has agreed on President Habibie to be the presidential candidate,"
      Reuters,; AFP  -  620 words
    • Article, Illustration
      Lock icon Mahathir stays mum on date of next elections
      324 5 KOTA KINABALU State of the economy will be a factor to consider, he says Reuters PRIME Minister Mahathir Mohamad remained coy yesterday about the timing of Malaysia's forthcoming elections, stating the obvious that it could be held by April and surely before
      Reuters  -  324 words
    • Article
      Lock icon Thailand refuses WTO leadership compromise
      221 5 BANGKOK Reuters THAILAND said yesterday it could not accept a reported proposal to break the impasse on the battle for the World Trade Organisation (WTO) leadership as "national dignity" was at stake. Supachai Panitchpakdi, who is Thailand's candidate for the job and deputy prime minister,
      Reuters  -  221 words
    • Article, Illustration
      Lock icon Hot and bothered about bare skin
      76 5 [HONGKONG] A shirtless worker yesterday delivering a box of dried vermicelli-noodles on a Hongkong street. Topless males have been spared having to cover up in the hot Hongkong summer after a judge rejected a woman's claim that the sight of bare-chested men amounted to
      AFP  -  76 words
    • Article
      HK govt appoints Merrill adviser for partial MTRC privatisation
      294 5  -  From< Quak Hiang Whai in Hongkong THE Hongkong government has appointed investment bank Merrill Lynch the financial adviser for its proposed partial privatisation of the Mass Transit Railway Corporation. A government spokesman said the financial adviser would assist the government in
      294 words
    • Article
      Lock icon China suspends New World operations
      138 5 BEIJING Bloomberg CHINA ordered New World Infrastructure Ltd to stop selling insurance because it didn't have proper approval, said a spokeswoman from the China Insurance Regulatory Commission. The order came as the commission ordered a unit of UK-based Sedgwick Group pic to temporarily shut its
      Bloomberg  -  138 words
    • Article, Illustration
      Lock icon Banker Edmund Ho set to become Macau chief exec
      714 5  -  He's ahead in straw poll and first ronnd of nominations From Quak Hiang Whai in Hongkong EDMUND Ho Hau-wah looks set to become Macau's first chief executive as a Beijingnominated selection committee elects today the first leader for the Portugese enclave
      AFP  -  714 words
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      751 5 CSA HOLDINGS LTD (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that vi EXTRAORDINARY GENERAL MEETING of the Company wi be held at 221 Henderson Road #06-01. Henderson Building, Singapore *****7 on 8 June 1999 at 12.00 p.m. (or immediately after to conclusion
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  • REGION
    • Article, Illustration
      Lock icon Australian govt tax defeat could bring early poll
      584 6 CANBERRA PM must weigh several options now after independent senator's 'nay' vote Reuters AUSTRALIA'S government was left in a dilemma yesterday after its ambitious tax reform programme was rejected. It could either go back to the people or continue without the reform
      Reuters; REUTERS  -  584 words
    • Article
      Lock icon Special courts will try Jayalalitha for corruption
      322 6 NEW DELHI Reuters, AFP INDIA'S Supreme Court yesterday upheld the validity of special courts to try corruption cases against an influential regional leader who brought down the country's government last month. The country's highest court rejected an appeal by former movie star Jayaram
      Reuters,; AFP  -  322 words
    • Article
      Lock icon S Korea to raise local phone rates in July
      317 6 SEOUL That will make Korea Telecom share sale more attractive Bloomberg THE South Korean government said it will raise local telephone rates in July, a move that will facilitate the planned US$l.7 billion (552.9 billion) overseas share sale by state-run Korea
      Bloomberg  -  317 words
    • Article
      Lock icon Tokyo Disneyland issues US$200m bonds
      220 6 TOKYO Reuters TOKYO Disneyland operator Oriental Land Co Ltd said yesterday that it has issued two sets of bonds totalling US$2OO million (*****.1 million) aimed at mitigating the financial effect if a major earthquake hits the theme park. The two five-year, dollarbased bonds were issued
      Reuters  -  220 words
    • Article, Illustration
      Lock icon BOJ against extending deposit guarantee for banks after 2001
      470 6 TOKYO Comments come as major regional bank says it needs funds Bloomberg BANK of Japan deputy governor Sakuya Fujiwara said the central bank opposes extending the government's guarantee of deposits in the event of bank failures, according to a copy released
      Bloomberg; REUTERS  -  470 words
    • Article
      Lock icon More FDI flows seen to Bangladesh power, gas, telecoms sectors
      254 6 DHAKA Reuters THE World Bank said it expects foreign direct investment, mostly in Bangladesh's gas, power and telecommunication sectors, to rise steadily in the next few years. "The gas sector with nearly 13 trillion cubic feet of proven and recoverable
      Reuters  -  254 words
    • Article
      Lock icon LG Group raises stake in Dacom to 9.7%
      195 6 SEOUL Bloomberg LG Group, South Korea's fourth-biggest conglomerate, said it has bought a 4.86 per cent stake in Dacom Corp for 95.7 billion won (*****.6 million) as it moved closer to acquiring the nation's secondbiggest telephone company. LG bought the 917,023 shares
      Bloomberg  -  195 words
    • Article
      Lock icon More shake-ups ahead for Japan telecoms firms
      502 6 TOKYO Consolidation seen speeding op amid harsh environment Reuters JAPAN'S telecoms operators, caught in the headlights of the global shake-up in their industry and facing a harsh earnings environment, will speed up their consolidation drive this business year, analysts say. Rate competition and
      Reuters  -  502 words
    • ASIA Notes
      • Article
        Lock icon Obuchi ratings up at record 38%
        96 6 AFP [TOKYO] Japanese Prime Minister Keiso Obuchi's government emerged in a major poll on Thursday with his best popularity rating since he took office. For the first time Mr Obuchi had more supporters than detractors. The support rate rose 5.1 percentage points In a
        AFP  -  96 words
      • Article
        Lock icon Korean strikers clash with police
        61 6 AFP [SEOUL] Fighting between striking workers and riot police broke out in central Seoul yesterday during a street rally by militant unions demanding a halt to mass layoffs. Some 7,000 union workers have been on strike since Wednesday demanding the government reduce current working hours
        AFP  -  61 words
      • Article
        Lock icon India FDI rises to US$2.8b in Q1
        83 6 AFP [NEW DELHI] India's recession-hit industry received a boost this year with overseas investments rising to US$2.3 billion (553.9 billion) between January and March, the Press Trust of India said yesterday. Senior government officials told the news agency that the figure was substantial
        AFP  -  83 words
      • Article
        Lock icon Silicon Graphics pumps US$8m in India
        110 6 AFP [NEW DELHI] US computer giant Silicon Graphics Inc (SGI) will invest US9B million in India to take on rivals IBM and Hewlett-Packard, the Asian Age said yesterday, i "We have already spent US|7 million and are planning to invest another US$B million to
        AFP  -  110 words
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  • FOCUS
    • Article, Illustration
      Lock icon Weak demand — corporate Asia's woe
      1607 7  - Weak demand corporate Asia's woe World Bank study of 3,700 firms in Indonesia, Korea, M'sia, Philippines and Thailand also sees patchy recovery from crisis Reports by Vikram Khanna [SINGAPORE] THE collapse of domestic demand has been the biggest problem affecting small and medium-sized companies during the Asian economic crisis, a
      REUTERS; Source: World Bank  -  1,607 words
    • Article
      An agenda for recovery
      407 7 Nine main policy strategies and four bread long-term changes needed for post-crisis Asia BASED on the survey of the company-level impact of the Asian crisis, senior finance and banking officials from the five Asian countries that were covered have endorsed a nine-point agenda on what policies
      407 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      56 7 Make mountains out of molehills. With so many fine educational and upgrading opportunities in The Straits Times Classified daily, it's no wonder our readers are inspired to scale the heights of knowledge. Advertise in the Education/ Training section (Classifications 703 to 794). Call C.A.T.S. at 1800-737-1166. fa I CATjSI| Buy
      56 words
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      6 7 ■I imliii Tmill in SrJSHiIS am
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  • THE WORLD
    • Article, Illustration
      Lock icon Demands for Yeltsin to quit
      60 8 [MOSCOW] An old woman waving her fist and shouting anti- Yeltsin slogans as she takes part in the communists'demonstration in front of the State Duma in Moscow yesterday. The protesters demanded the resignation of Mr Boris Yeltsin and supported the impeachment hearings which started on
      AFP  -  60 words
    • Article
      Lock icon Jump in US consumer prices sparks interest rate fears
      596 8 WASHINGTON 0.7% April rue is biggest monthly rise since Oct DO, just before Gnlf War Reuters, Bloomberg US consumer prices rose in April at their fastest rate of the eight-year economic expansion, marring a near-per-fect inflation picture and heightening suspense over
      Reuters,; Bloomberg  -  596 words
    • Article
      Lock icon Clinton gets through to Jiang on the phone
      291 8 WASHINGTON Offers condolences on tambing of China's Belgrade embassy AFP US President Bill Clinton made his long-awaited call to Chinese President Jiang Zemin yesterday to deliver his personal apology and explanation for the Nato bombing of China's Belgrade embassy, the White House
      AFP  -  291 words
    • WORLD Watch
      • Article
        Lock icon Nato checking report of civilians killed
        70 8 Reuters I [BRUSSELS] Nato said yesterday it was checking Serb f reports that 100 civilians were killed in southwestern Kosovo when it hit Yugoslavia overnight with the heaviest raids of its seven* week campaign. The official Yugoslav news agency Tanjug said at least 100
        Reuters  -  70 words
      • Article
        Lock icon World Bank to delay loans to Russia
        89 8 Bloomberg [LANGKAWI, Malaysia] The World Bank will delay approving new loans to Russia after President Boris Yeltsin fired his government two days ago, the lender's president, James Wolfensohn, said. "We are waiting to aee what happens to the government," Mr Wolfensohn told reporters
        Bloomberg  -  89 words
      • Article
        Lock icon US draws up new list of EU tariffs
        80 8 Bloomberg {WASHINGTON] The US government is drawing up a list of US$2OO million (***** million) worth of punitive tariffs on European Union products after the EU ignored a deadline to lift an import ban on US beef grown with hormones. The value
        Bloomberg  -  80 words
    • Article
      Lock icon Soros fund loses golden touch in betting against US$
      348 8 NEW YORK Reuters FINANCIER George Soros' hedge fund Soros Fund Management appears to be losing its golden touch. The flagship US$6.B billion (5511.6 billion) Quantum Fund, run by Mr Soros right-hand man Stanley Druckenmiller, is down 12 per cent since the
      Reuters  -  348 words
    • Article
      Lock icon Greenspan reappointment not an issue
      233 8 WASHINGTON Official says it's still too early to consider Fed chief 8 4th term Reuters THE White House has not begun to consider whether to appoint Federal Reserve Board chairman Alan Greenspan to a fourth term heading the US central bank, a US official said
      Reuters  -  233 words
    • Article, Illustration
      Lock icon Investors bet on more of the same with Summers
      644 8  -  The new Treasury Secretary's expected to follow in the footsteps of the old From Leon Hadar in Washington ON Wednesday morning, when first reports of the expected resignation of Treasury Secretary Robert Rubin circulated on Wall Street, the Dow Jones Industrial
      FILE PHOTO  -  644 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      439 8 Wah shing international holdings limited (Incorporated in Bermuda with limited liability) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Wah Shing International Hotfngs Limited ("the Company") will be held at the Conference Room, The Westin Stamford Westin Plaza, 2 Stamford Road, Singapore *****2
      439 words
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  • SPORTS
    • Article, Illustration
      Lock icon Cricket's £50m industry
      814 9  -  CRICKTT WORLD CUP The event is expected to attract an audience of two billion, reports meii. behrmamm NEIL BEHRMANN THE cricket World Cup which began at London's hallowed Lords ground yesterday has become a multi-million dollar industry attracting a queue of sponsors and drawing billions of spectators.
      REUTERS  -  814 words
    • Article
      Why World Cup cricket can be so riveting
      1053 9  -  By I Shahiron Sahari [SYDNEY] Sports aficionados used to planning their leave and holidays to coincide with the even-numbered years, because of the major sporting events held in those years, now have another year to take into account. These are the years
      1,053 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      449 9 i J* Offers Personalised Cash Access Where to dine biiq entertdin*** at over 30,000 locations worldwide. HkiHs O °if\ 1 HOTEL QRANO CENTRAL LIMITED 22 Orchard RoadlCavenagh Road, Singapore *****7 Tat; *****44 Ext4oo/02 Fax: *****75 "1212' LUNCH PROMOTION (From 12 noon 2.30 pm daily) Come and try our value for
      449 words
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      Page 9 Advertisements Column 2
      35 9 1 J M Coffeehouse Ist floor The Magic of Thailand at Chatterbox Coffeehouse 9 to 23 May 1999 Enquiries: 831 6291 'J% 5- J* 333 Orchard Road, Singapore *****7. Tel: 7J7 4411 Fax: 732 2361
      35 words
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  • EXECUTIVE LIFESTYLE
    • Article, Illustration
      Lock icon You can't ever have too much RAM
      847 10  -  And if yon don't have enough, high capacity PSDs will do the trick By, Andrew Wee [SINGAPORE] Five minutes from a presentation that will make or break your career, you copy your work onto a floppy. As the file transfer is 98 per
      SIEW YAW HOONG  -  847 words
  • Page 10 Miscellaneous
    • Miscellaneous
      Page 10 Miscellaneous Column 1
      1791 10 CRYPTIC CROSSWORD 10 Case of select beer past its 11 Change comes over mothers aid? Absolutely (4) 30 Use people with time for g Measure in the shade to get YEOTERDAYTS SOLUTION work (10) cover (8) |h[ E A |T|Hlß|o|w«Bcjßlojw<Hls| DOWN 14 Playing tag here, chasing ev- LyßyoyzpfiWEy i^kl 1
      1,791 words
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  • COMPANIES & MARKETS
    • Article
      Share price rally moves NOL closer to rights issue
      227 11 [SINGAPORE! Things are shaping up for an imminent rights issue by Neptune Orient Lines (NOL), that could be one of the year's biggest cash calls in the stock market. The company, whose share price yesterday surged to a near three-year high,
      227 words
    • Article, Illustration
      Lock icon Orchard Parade placing out 29m new shares to raise $35m
      461 11  -  FUND RAISING ITE also taking placement ronte; meanwhile, SES told of PSC Holdings' share sale talks By David Boey [SINGAPORE] Orchard Parade Holdings, which is deep in the rut with losses of almost $200 million last year, is again selling
      FILE PHOTO  -  461 words
    • Article, Illustration
      Lock icon OUB launches multi-currency money market fund
      267 11  -  By Wong Wei Kong [SINGAPORE] OUB Asset Management, the fund management arm of Overseas Union Bank, yesterday launched the first money market umbrella fund in Singapore that will allow investors to invest in up to five foreign currencies. The Global Currency Fund (GCY) has
      SIEW YAW HOONG  -  267 words
    • Article
      PacNet and major shareholders to sell 2.13m shares
      414 11  -  Sale at market price could fetch SembCorp $160 m Teh Hooi Ling [SINGAPORE] Nasdaq-listed Pacific Internet (PacNet) and its major shareholders are taking advantage of the company's strong share price now to sell more shares, a move that could fetch shareholder SembCorp
      414 words
    • Article
      Lion tie-up debuts on Shenzhen bourse
      335 11  -  Thajiang Motorcycle closes 13.6% higher By Louis Beckerling [SINGAPORE] The latest Singapore joint venture in China Zhejiang Qianjiang Motorcycle Co made a successful debut on the Shenzhen Stock Exchange (SSE) yesterday. Oversubscribed 152.4 times at its float on March 11 at an issue price
      335 words
    • Article
      Are local firms taking their cue on debt from the US?
      636 11  -  HOCK LOCK SIEW Lee Han Shih PROM Keppel Corporation and Orchard Parade to Hotel Properties and Progen, about a dozen listed companies have in the past few weeks said they would issue new shares to raise some $5 billion.
      636 words
    • Article
      Omni Ind to set up Thai joint venture
      202 11 [SINGAPORE] Electronics contract manufacturer Omni Industries yesterday said its wholly-owned subsidiary Eteq Components and Thai company Reliance Technochem will incorporate a joint venture in Thailand called Eteq Components (Thailand). The new company will have an initial paid-up of 2 million baht (5592,012)
      202 words
    • Article
      Lock icon New Avimo purchases likely in optical instruments
      284 11 Bloomberg [SINGAPORE! Singapore's Avimo Group Ltd said any future acquisitions are likely to expand its new optical instrumentation unit to target commercial users, finance director Richard Clarke said. "This is because of limited growth for our optics equipment business" and the need to
      Bloomberg  -  284 words
    • COMPANIES
      • Article
        Lock icon Telkom swings from loss to 306b rupiah profit in Q1
        462 12 Q1 sales rose faster than costs while forex charges fell; shares rise on news Bloomberg [JAKARTA] PT Telkom, Indonesia's domestic phone monopoly, swung to a 306 billion rupiah (5566.4 million) profit in the first quarter as its sales rose faster
        Bloomberg  -  462 words
      • Article
        Intria says £61b loan recalled
        321 12  -  It could lose stake in Costain as it can't meet bank demand Froml Diana Oon Abdullah in Kuala Lumpur DIVERSIFIED construction group Intria Bhd yesterday said the lender of a £61 million (Ssl6B million) loan has called it in, and that the company could lose
        321 words
      • Article
        Lock icon Power group CLP interim net down 34% to HK$3.2b
        158 12 Bloomberg [HONGKONG] CLP Holdings Ltd, the larger of Hongkong's two power companies, said first-half earnings fell 34.3 per cent as operating profit remained steady and the company's property developments contributed no one-time income. Net profit for the six months to March
        Bloomberg  -  158 words
      • Article
        Lock icon No problem with HSBC placement, says HK watchdog
        310 12 Bridge News [HONGKONG] Hongkong's Securities and Futures Commission (SFC) chairman Andrew Sheng said yesterday that the recent US$3 billion (Sss.l billion) private share placement by the UK's HSBC Holdings pic is "in line with" US and UK practices. Head of emerging markets
        Bridge News  -  310 words
      • Article
        Keppel T&T to keep transport business
        284 12  -  A report on the sale of some divisions is untrue, it says By\ Felix Chan [SINGAPORE] Keppel Telecommunications and Transportation has denied a newspaper report that it was selling its transport and logistics business to focus on telecommunications. It was reported yesterday that the
        284 words
      • Article, Illustration
        Lock icon Forex loss trims Thai Airways profit
        309 12 Reuters [BANGKOK] Thai Airways International said yesterday that a foreign exchange loss due to the baht's depreciation sharply trimmed net profit in the January-March quarter. The national carrier said net profit fell to 2.4 billion baht (SSI 10.4 million), or 1.71 baht a share,
        Reuters; FILE PHOTO  -  309 words
      • Article
        Minister not aware of Telekom sale talks
        368 12  -  Stock surges 7.6% on rumours of possible deal with NTT Front Ruth Wong, Eddie Toh MALAYSIAN Second Finance Minister Mustapa Mohamed said yesterday he had no knowledge of whether the government was talking to Japan's Nippon Telegraph and Telephone (NTT) on the sale
        368 words
      • Article
        Lock icon Honda posts record 350b yen profit
        195 12 Reuters [TOKYO] Honda Motor yesterday posted a third consecutive year of record profits but predicted a stronger yen would trim income this year. Consolidated net profit climbed 17 per cent to a record 305 billion yen (554.3 billion) in the year ended March 31.
        Reuters  -  195 words
      • Article
        Lock icon Pacific Century flagship to focus on technology
        386 12 SCMP [HONGKONG] Pacific Century Group chairman Richard Li has unveiled an ambitious plan to focus his proposed listed flagship Pacific Century CyberWorks on technology and reduce its reliance on property. The plan centres on forming a new firm, CyberWorks Ventures, which will operate
        SCMP  -  386 words
      • COMPANY Briefs
        • Article
          Rothschild to advise Liang Court
          35 12 [SINGAPORE] Liang Court Holdings has appointed NM Rothschild Sons (Singapore) as its financial adviser in connection with Pidemco Land's unconditional cash offer for all outstanding Liang Court shares and warrants.
          35 words
        • Article
          OUB trims stake in Lion Asiapac
          33 12 [SINGAPORE] Overseas Union Bank has sold 4.7 million shares in Lion Asiapac at about US$O.25 each, reducing its shareholding from 14.82 per cent to 12.78 per cent
          33 words
        • Article
          Boustead gets See Hup Seng contract
          53 12 [SINGAPORE] See Hup Seng has awarded the tender for the design and construction of its new office building and workshops at Tuas South Street 6 to Boustead Projects, a subsidiary of Boustead Singapore. The $7.2 million job calls for the building to be delivered
          53 words
        • Article
          DBS Land unit sets up subsidiaries
          69 12 [SINGAPORE] EsmacoPteLtd, which is6l percent owned by DBS Land's wholly-owned DBS Property Services, has incorporated two wholly-owned subsidiaries, Esmaco Township Management and Remco Property Services. Each company has an authorised and paid-up capital of $1 million and $2 respectively. Esmaco Township Management will provide
          69 words
        • Article
          Lock icon C&C Bintang ends Kia franchise deal
          77 12 AFX-Asia {KUALA LUMPUR] Cycle Carriage Bintang Bhd said tt has terminated its franchise agreement with Kia Motors. Cycle Carriage had been appointed by Kia to assemble and distribute KIA Ceres and Sportage models in Malaysia. Cycle Carriage said it has terminated the deal to
          AFX-Asia  -  77 words
        • Article
          Lock icon Metropolitan Bank Q1 net drops 37%
          74 12 Reuters [MANILA] Metropolitan Bank and Trust Co, the largest bank in the Philippines, said yesterday that lower interest rates led to a 36.8 per cent drop in its first quarter earnings despite lower provisioning for non-performing loans. Analysts said the results were worse than
          Reuters  -  74 words
        • Article
          Lock icon New World told to close broking unit
          84 12 SCMP [HONGKONG] Mainland insurance regulators have ordered New World Infrastructure (NWI) to close its broking operations. The action is the latest sign of a renewed clampdown on unlicensed insurance-broking activities in the mainland. It comes a day after insurance regulators ordered an arm
          SCMP  -  84 words
    • INTERNATIONAL COMPANIES
      • Article
        Lock icon JP Morgan shares shoot up on takeover rumours
        308 13 Potential buyers include Goldman, Chase, Merrill, says Warburg analyst Reuters [NEW YORK] JP Morgan stock jumped on Thursday on rumours that the nation's fourth biggest bank would sell out, possibly to Goldman Sachs or Chase Manhattan, analysts said. Morgan's stock rose 7%
        Reuters  -  308 words
      • Article
        Lock icon US court rules Microsoft temps to get stock options
        349 13 More than 10,000 workers could be eligible for damages Reuters [SEATTLE] In a case that could have wide ramifications for the technology industry, an appeals court has ruled that thousands of current and former Microsoft Corp temporary and contract workers are
        Reuters  -  349 words
      • GLOBAL Briefs
        • Article
          Lock icon HSBC closes US domestic equity unit
          110 13 Bloomberg [NEW YORK] HSBC Holdings pic, Europe's biggest bank by market value, win no longer buy and sell US stocks because it couldn't compete with bigger rivals, said Tony Rrfdeneyer, president and chief executive of HSBC Securities, on Thursday. The bank is closing its
          Bloomberg  -  110 words
        • Article
          Lock icon Samsung Electronics Q1 sales surge 25%
          76 13 Bloomberg I [SEOUL] Samsung Electronics Co, the world's largest memory chip maker, said yesterday first-quarter sates surged by almost a quarter thanks to rising prices and increased demand for both its chips and its telecommunications equipment. Exports roee 25 per cent from a year
          Bloomberg  -  76 words
        • Article
          Lock icon Iridium hires bank to restructure debt
          127 13 Bloomberg [WASHINGTON] Iridium Lie, the cash-strapped operator of the first global satellite-telephone network, said on Thursday it hired investment bank Donaldson, Lufkin Jenrette Inc to help restructure its debt and reduce its financing costs. It also is in talks with its lenders to revise
          Bloomberg  -  127 words
        • Article
          Lock icon Philipe in talks with LG Electronics
          75 13 Bloomberg [AMSTERDAM] Royal Philips Electronics NV.Europe's largest consumer-electronics maker, said yesterday if s in talks with LG Group, South Korea's fourth-largest conglomerate, on "possible cooperation" between the companies. An LG official said on Wednesday that a European electronics company and several others are interested
          Bloomberg  -  75 words
        • Article
          Lock icon Citigroup sells Canada branches
          91 13 Bloomberg [TORONTO] Citigroup Inc, the world's largest financial company, agreed on Thursday to sell its five Canadian bank branches to Canada Trust, saying that one of its insurance units will now provide retail banking services in the country. Canada Trust, wholly owned by Toronto-based CT Financial
          Bloomberg  -  91 words
      • Article
        Lock icon Microsoft trails in US profit poll, ranked 100th
        307 13 Bloomberg [REDMOND, Washington] Microsoft Corp, often considered one of the world's most profitable companies, ranks only 100 th among US-traded companies when it comes to profitability, based on a survey of US company earnings. The world's biggest software maker earned 44 US
        Bloomberg  -  307 words
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      1806 13 SinGAPORE AIRLinES LIiTIITED 2^7 (Incorporated in the Repubtic of Singapore) ANNOUNCEMENT The Board of Directors of S«ng*xxe Airlines Limited «Mm to make toe Mtowtog announcement 1. AUDITED RESULTS FOR THE YEAR ENOED 31 MARCH 1999 THE GROUP THE COMPANY 1W M 1987-86 Change 1986-98 1997-99 Cheng* S$M S9M S$M 88M
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  • FINANCE & COMMODITIES
    • Article, Illustration
      Lock icon US regulators set to delay new derivatives rules
      464 14 Many companies nnablaXo get their computer systems ready in time FT [LONDON] US regulators are poised to postpone for up to a year controversial rules that would have forced banks and big companies to account for the impact of trading in trillions
      FT  -  464 words
    • Article
      Eyes on HKFE's switch to electronic trading
      424 14  -  Initial hitches will help revive interest in Himsci: Simex players By i Siow Li Sen [SINGAPORE] Futures players here are keeping their eyes glued on the Hongkong Futures Exchange's (HKFE) switch to electronic trading scheduled for a fortnight's time. Some Singapore International Monetary
      424 words
    • Article
      Allianz signs deal to buy over Korea's First Life
      282 14 [SINGAPORE] German insurance giant Allianz, whose Asia-Pacific headquarters are in Singapore, has signed an agreement to acquire Korea's First Life Insurance. First Life, which has an annual premium income of 1.5 trillion Korean won (Ss2.l billion), is Korea's second oldest and
      282 words
    • Article, Illustration
      Lock icon US$ maintains steady rise
      428 14 Enro/USSc Bulls were disappointed again this week as euro/USJ relinquished most of the gains made last week. The unit slid from its pedestal at 1.0835 on Monday to touch a low of 1.0602 on Thursday. A slight rebound was seen yesterday morning, with euro/US$ seen trading
      Source: CBE Bank  -  428 words
    • Article, Illustration
      Untitled
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      1,175 words
    • Article
      Untitled
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      1,569 words
    • Article
      Futures settle marginally higher
      120 15  -  Ml Reports Tutor Christopher Podbury, Jardine Fleming THE SiMSCI futures contract generally drifted sideways in trading yesterday to finish marginally higher, with limited institutional interest being seen. The spot month May SiMSCI futures contract rose 1.8 index points to settle at 280.20 on a modest volume
      120 words
    • Article
      Futures surge in line with Taipei index
      181 15  -  MSGI Taiwan (Mares Vincent Ngiam Refco Singapore THE Simex MSCI Taiwan Stock Index futures contract surged 10.9 points to 331.90 in the May '99 contract. The Taiwan Stock Exchange Weighted Price Index rose 176.33 points to 7,592.53, taking a cue from the previous
      181 words
    • Article
      Lock icon Oil prices decline after an early attempt to gain ground
      365 15 ENERGY REPORT Reuters [LONDON] Oil prices eased yesterday after an early attempt to regain an upward path beaten in previous weeks on confidence in Opec supply cuts, brokers said. World benchmark Brent crude for July,, which becomes the front month
      Reuters  -  365 words
    • Article
      Lock icon CURRENCY REPORT
      307 15 Reuters Lmdon DOLLAR strength was reined back yesterday by losses US assets suffered as unexpectedly strong US economic reports fuelled speculation that the Federal Reserve may have to raise interest rates sooner than expected. The largest rise in consumer price inflation since October 1990, followed by strong capacity
      Reuters  -  307 words
    • Article
      BT SHARE INFORMATION SERVICE
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      3,262 words
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      Lock icon HONGKONG
      1282 16 AFP OHmgStng -IMJS HONGKONG share prices closed 1.5 per cent lower yesterday despite an overnight rise on Wall Street as investors remained worried about the direction of US interest rates, dealers said. The Hang Seng Index closed down 196.15 points at 12,855.52 on a turnover of HK16.3 billion. Tai
      AFP  -  1,282 words
    • Article, Illustration
      Lock icon CHINA
      488 16 Reuters -0.76 SHENZHEN'S hard currency B shares closed easier yesterday after retail investors cashed in gains from three days of advances, analysts said. The B share index fell 0.76 point to 55.37 on turnover of HK$5.3 million, contracting from HK$B.9 million on Thursday. "There is a very heavy wait-and-see
      Reuters  -  488 words
    • Article
      Lock icon TAIPEI
      331 16 AFP HWPMeat ****** TAIWAN share prices closed 2.4 per cent higher yesterday to reclaim the psychological 7,500-point level, spurred by an overnight rally on Wall Street, dealers said. The Taiwan Stock Exchange Weighted Price Index soared 176.33 points to 7,592.53, after losses in the previous three consecutive sessions. "Market
      AFP  -  331 words
    • Article
      WORLD STOCK MARKETS
      1695 16 31 Group 7.0a -a* Attn National 13-25 -0.50 ABPeedS 4.84 -0.12 A a Ports 2.82 -002 AManca 6 Leicester 8.51 -022 AMod Owwarq \Tt -0.12 AMZaidl 7.69 -026 ASOA Croup 1.90 0.03 Bank o< Scotland 8.76 -0J2 Barclay* 17.92 -07» •Ht 9.51 -020 BC 3.59 -019 BBBton
      1,695 words
    • Article
      Lock icon TOKYO
      1496 16 AFP □Nikkei 225 -4&M SHARE prices in Tokyo closed 0.2 per cent lower yesterday on selling by both foreign and domestic investors despite another recordbreaking session on Wall Street, brokers said. "Investors continued adjusting their positions despite gains on Wall Street. There was selling by both foreign and domestic
      AFP  -  1,496 words
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      32 16 Tba stock prleas and flforw lor tha OUaa tndlcaa tab!* aad chart w«ra art available yesterday HOCK LOCK SIEW Takes you behind the news V 2 TheßusinessTimes S? 0 SINOAPOBI t r
      32 words
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  • KUALA LUMPUR STOCK MARKET
    • Article, Illustration
      Lock icon Composite Index soars past key 750 level
      337 17 AFP |3|ComDOfflt<lßdgi *3129 MALAYSIAN share prices rose 4.5 per cent yesterday due to buying interest in index-linked stocks amid positive sentiment on a large sovereign bond issue. Dealers said the market ignored regional weakness, sending the composite index surging past the 750-point psychological
      AFP  -  337 words
    • Article
      Untitled
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      8,579 words
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  • WARRANTS, OPTIONS & REGIONAL MARKETS
    • Article
      MHE 1999 wrt is not for the faint-hearted
      204 18  -  WARRANT WATCH -By R Sivanithy SOMETIMES, making a decision by looking at the numbers isn't easy. The figures are only meant to be guidelines "and are not definitive what should one do, for instance, in the case of a warrant which has
      204 words
    • Article
      Untitled
      2024 18 L«t VO, O.v HUh L— ttw Ciwuwy Sale ♦or- COOP) High Leer »*T* f rtc 23 3 31*0 "Acer ******1 US$ 233 uneh >4* 24 23.3 23.3 24 333 4.3 f 3>64 Acme ******4 Mi -0.3 »23 31 293 30.3 30 30 M 1 31*1 AMTech ******7 1* J JZ
      2,024 words
    • Article
      CLOB INTERNATIONAL
      191 18 Sf Or $]-M Last Val Day LatOuM M Oh YN M M Cap Law 8t»a Cmipawy >ata fOOO» H»<h La» fctyar *«4t C*w Wft V"* 345 173 5123 COL (2000IHK 325 id unch 24 325 325 3123 325 XT 23 H 6292.5 5124 Cathay Pac 20c HK-720 2*5
      191 words
    • Article
      Lock icon WELLINGTON
      260 18 AFP ->3117 NEW Zealand shares finished the week on a strong note yesterday, rising 1.4 per cent on across-the-board demand. The NZSE-40 Capital Index closed up 32.17 points at 2,251.32 on turnover worth NZ5132.1 million. Overall, the market was up just over one per cent on the week. —AFP
      AFP  -  260 words
    • Article, Illustration
      Lock icon BANGKOK
      798 18 AFP n SET Ml -U» THAI shares closed down 0.4 per cent yesterday after a day dominated by action in the banking sector, dealers said. The benchmark Stock Exchange of Thailand (SET) Index fell 1.99 points to close at 474.90. Analysts said the favourable impact of Wall Street's strong
      AFP  -  798 words
    • Article
      Lock icon SEOUL
      365 18 AFP jyjOtopoeite Index AM SHARE prices in Seoul closed 0.6 per cent lower yesterday in volatile trade, with retail investors taking profits in medium and small caps, brokers said. The Composite Index closed down 4i54 points at 737.83. Volume was 250.4 million shares worth 2.9 trillion won. SK Securities
      AFP  -  365 words
    • Article
      Lock icon SYDNEY
      596 18 AFP HinortiMriM *a&.4 AUSTRALIAN share prices gained 0.8 per cent yesterday with financial services and media stocks in demand after a record close on Wall Street overnight, brokers said. The All Ordinaries Index rose 25.4 points to 3,055.00. The All Industrials Index closed up 53.7 points at 5,370.40, while
      AFP  -  596 words
    • Article, Illustration
      Lock icon JAKARTA
      651 18 AFP |jjftnpo«tefalg +15J3 INDONESIAN share prices closed 2.6 per cent higher yesterday following an overnight rally on Wall Street, brokers said. Ciptadana Sejatiraya Securities dealer Kuntao said the government's new letter of intent to the IMF, released here, underscored a strong day of trading. The letter's focus on the
      AFP  -  651 words
    • Article
      Lock icon MANILA
      252 18 AFP Puma* -IM> PHILIPPINE share prices closed 0.8 per cent lower yesterday amid continued profittaking, analysts said. The Composite Index fell 19.26 points to close at 2,502.75 points. Volume rose to 7.56 million shares while value fell to 3.86 million pesos from 6.82 billion shares and 3.95 billion pesos
      AFP  -  252 words
    • Article
      STOCK EXCHANGE OF SINGAPORE: MAIN BOARD
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      6,473 words
    • Article
      SESDAQ
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      44 words
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  • STOCK EXCHANGE OF SINGAPORE
    • Article
      Untitled
      317 20 ttedn Uraco HldgslOc 47,336,000 Latoroy M20c 25.873,000 PCI 25c *****.000 Chosen Hldgs 10c 19,876,000 Uraco Wt02 18,887,000 Leong Hin 20c 18,659,000 LionAsiaoac25c 16,595,000 CM Telecom HK75C 16,258,000 S Chance 10c 16,050,000 N0i 15,468,000 S Latoroy M 20c 44,478,320 OCBC Foreign 30.371.000 OSS Foreign 26,601,874 OUB Foreign 21,954,207 Uraco HldgslOc 21,725,130
      317 words
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      Electronics stocks in play on hopes of better trade data
      554 20  -  STOCK MARKET COMMENTARY Overnight record high on Wall Street inspires market bnt rise capped by interest rate jitters By R Sivanithy A RECORD overnight Wall Street close brought on some knee-jerk buying here yesterday, but lingering concerns about interest rates
      554 words
    • ON THE GRAPEVINE
      • Article
        So where's the fire?
        83 20 THERE was a mini-panic in the local stock market yesterday because of a series of messages that flashed on dealers' screens, starting at 3.09pm. To fully appreciate what happened, the sequence of messages is important: 3.09pm: "Due to technical problems, the market will be temporarily closed
        83 words
      • Article
        Money enough?
        78 20 IF you are a closet film maker who likes to dabble in making video movies, here's your chance to hit pay dirt. JVC of Japan is accepting entries for the 22nd Tokyo Video Festival. The top two winners will each get 500,000 yen (ST,000) in prize money and
        78 words
      • Article
        More money,loss honey
        141 20 NON-WORK-RELATED surfing by employees on company time may have accounted for as much as a third of Internet use, and cost up to the equivalent ofUSII billion (SSI.7 billion) a year at US firms in the first few months of this year, according to a study of
        141 words
      • Article
        Samsudin eyeing banks?
        139 20 SAMSUDIN Abu Hassan's appointments to the boards of Bolton Bhd and Kejora Harta have sparked market talk about his plans for the two property companies. The latest on the grapevine is that Kejora Harta will end up as a holding company of several small- and medium-sized banks.
        139 words
    • Article, Illustration
      HOT STOCK
      64 20  -  By Wong Wei Kong THE Labroy Marine stock closed up 17 cents at $1.80 yesterday with 25.9 million shares traded, compared with its 10-day traded average ot 1.8 million shares. The daily and weekly RSI. Stochastics and MACD charts suggest that the stock may be overbought. At a
      64 words
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      1936 20 Want to talk investments with your peers? Join our forum at "http://iol.dbs. com.sg/iol/bbs". 01X1SBANK NOTICES To advertise call toll-tree 1800-741 1883 Fax No: 741 1298 NOTICF QF ANNUAL GENERAL MEETING HOTEL PROPERTIES LIMITED (INCORPORATED M THE REPUBLIC OF SINGAPORE) NOTICE IS HEREBY GIVEN that me Nineteenth Annual General Martina ot
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      Page 20 Advertisements Column 2
      149 20 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF CROWN CORPORATION (S) PTE LTD (In Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50 that the Final General Meeting of the Members of the
      149 words
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      Page 20 Advertisements Column 3
      163 20 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF REINVESTMENT (SICHUAN) PTE LTD (In Mtntwrs' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN in pursuance of Section 308 of tf»e Companies Act, Chapter 50 that the Final General Meeting ot Members of the
      163 words