The Business Times, 20 May 1999

Microfilm: NL21497
Total Pages: 40
1 40 The Business Times
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  • Title Section
    Masthead
    16 1 THE BUSINESS TIMES MITA (P) 046/12/98 85c SING A* PO RE 'nternef http://business-timeB.asial.com.sg/ THURSDAY, MAY 20,1999
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  • Article
    MARKET SUMMARY
    41 1 nw Qmup <<&**) Qsssjsamua ■ooor 81W1 MilKET IXSICES mm iwai«—-ML44 •MNQ88N8 114*14 ON 8ET INDEX 4AM 1* JAKARTA OOMP—MM, *1*71 MAMUOtW-JJUa -77.48 TAIPHWP! ?jti4M +2Mt S80UL00MP .734J6 +4J# CL8AC8INA B M&4»__*W AU8T ALLORD—2J6L2* 1&4# lpa EDT Chaafe mm *****.19 -19.71
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  • Article
    FINANCE
    65 1 FOBEX KATES £(US*S«per£) LII7 1771 HWXOBMIpwB) tm 1m DM LMt OJU YKN— 1118 L»« RM 3.800 0.461 BO 7.714 Afll i ■AW KM UN WHAM —_M« M81* 'Stum mm I PUXE BATES snwAPou* ua KUALA LUKFUS lim JAKARTA 28.00 WW* ML7S MAMLA turn umvm HA MH KM 8YMBY_ 8.41
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  • Article
    Cost pressures ease, recovery patchy: MTI
    761 1  -  'Latent risks' may hinder recovery and domestic sector's straggle By. Audrey Tan [SINGAPORE] The recent economy-wide cost cuts have led to significant easing of business cost pressures, but economic recovery remains patchy with three sectors still in decline, the first-quarter economic survey shows. The
    761 words
  • Article, Illustration
    Lock icon Yen hits 7-month low of 124.50
    424 1  -  Farther weakness seen as it loses grip of vital chart points By Larry Wee [SINGAPORE] The Japanese yen crashed to a seven-month low of 124.50 yen in late Asian trading yesterday, and is poised to fall further after having lost grip of the two
    Source: Bridge  -  424 words
  • Article, Illustration
    BATS Investments to buy up BATS, Rothmans
    773 1  -  Offer of a share for Rothmans, $6 for BATS seen as generous By Ven Sreenivasan [SINGAPORE] In a move that spells the delisting of two tobacco companies here, holding company British American Tobacco Singapore Investments (BATS Investments) yesterday made a conditional cash offer
    773 words
  • Article
    Clob: Let's wait until after M'sian GE
    115 1  -  MAILMAB Lim Hock Chai I AM a Clob investor. After all the exchanges on the Clob matter, I am of the opinion that the root of the problem might just be that the Malaysian side does not want it settled. Leaving the Clob
    115 words
  • Article
    Recovering, not recovered
    906 1  -  BOOMOme STJEVET qi More solid evidence must be seen before a full recovery story can be believed, writes yntrmm Mhmamm. Vikram Khanna THE Singapore government is renowned or notorious, depending on your paint of view—for being ultra-conservative in its forecasts for the Singapore economy. Some of the
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      143 1 msum Mat afiinS The Monetary Authority of Singapore (MAS) said it will not extend to nonbank corporations its latest ruling that local banks must set up nominating committees to select key managers and directors, r»i I jB I m Lee Han Shih looks at banker Wee Cho Yaw's (above) likely
      143 words
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      8 1 Japan urged to ease monetary policy, Pg 11
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      89 1 Weak growth in loans to local firms: MTI, Pg 2 Roonnmlrti now expect growth to exceed 2%, Pg2 More reports, Pg 2 Inverting tn M'sia carries moral hazards, Pg 4 vplroUftty^ is Mit withstmti V A gg f e 1> -dl ■> S' v^?-"^:" oV >-o 2 Ml turn |tu«.H»)
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  • ECONOMIC SURVEY OF SINGAPORE Q1 1999
    • Article, Illustration
      Lock icon Weak growth in loans to local firms: MTI
      516 2  -  S'pore companies maylagMNCs in recovery, says ministry By, Anna Teo DESPITE the manufacturing rebound, loans to local manufacturing firms have remained weak, suggesting a "possible two-tier recovery", with the multinational companies doing better than local firms, says the Ministry of Trade Industry
      Source: MTI; Source: US Ca ,Japan Ta Assoc; FILE PHOTO  -  516 words
    • Article
      Electronics export price fall: three factors
      363 2 COMPARED with a slight rise in the first nine months of 1998, electronics export prices fell by 4 per cent between October 1998 and March 1999. This reflects three factors a stronger Sing dollar, a global slump in chip and disk drive prices, and
      363 words
    • Article
      Economists now expect growth to exceed 2%
      499 2  -  By, Audrey Tan A MAJORITY of economists are now saying the Singapore economy will grow faster than the zero to 2 per cent the government expects, after looking at the quarterly results unveiled yesterday by the Ministry of Trade and Industry (MTI). The
      499 words
    • Article
      More companies upbeat about business conditions: EDB poll
      325 2 25% of4oo firms see improvement in next few months FOR the first time since the second quarter of last year, the optimists outnumber the pessimists when industrialists look at business conditions ahead. The Economic Development Board's latest quarterly business expectations survey shows
      325 words
    • SURVEY Snippets
      • Article
        Q1 growth at 6.8& against Dec quarter
        64 2 IN seasonally-adjusted terms, the economy grew 6 J per cent in the first quarter compared to the preceding quarter. The manufacturing sector, in particular, surged by 36.5 per cent. This points possibly to stronger growth ahead. Compared to the conventional year-on-year basis, the
        64 words
      • Article
        Composite leading index up 8.3%
        52 2 THE composite leading index picked up for the third straight quarter, rising 8.3 per cent over the previous period. The year-on-year increase was an even stronger 9*5 per cent. Of its nine components, only new company formation dipped. The index tracks economic activity about three
        52 words
      • Article
        Fall in external, domectic demand eases
        78 2 BOTH external and domestic demand continued to fall in Ql, though not by as much as in the previous quarter. External demand for goods and services fell 3.7 per cent, but demand for services recovered somewhat on the back of a pickup in visitor
        78 words
      • Article
        Employment down by 17,800 in Q1
        73 2 THE workforce continued to shrink in Ql as total employment fell by 17,800. Unemployment eased to 3.9 per cent in March in seasonally-adjusted terms. After three straight quarters of decline, productivity rose 3.2 per cent in Ql. The manufacturing and transcom sectors in particular
        73 words
      • Article
        Cost indices drop across-the-board
        59 2 ALL the cost indices fell significantly in Ql. The unit labour cost (ULC)of the overall economy fell 10.3 per cent Within the manufacturing sector, the ULC fell 17.4 per cent and services costs (like rentals, interest charges for services) dipped almost 7 per cent The overall
        59 words
      • Article
        Financial services decline 5.3%
        69 2 DUE partly to a high base, financial services fell sharply by 5.3 per cent in Ql. But the drop reflected still-sluggish regional and domestic activity too. Offshore financing remained depressed while domestic loans (after adjusting for POSBank's loans) continued to contract on the back of weakness
        69 words
      • Article
        Mfg investment pledgee fall 18%
        57 2 MANUFACTURING investment pledges hit $1.67 billion in Ql —18 per cent lower year-on-year but on track for the year's target of $7.5 billion. Foreign investments fell 5.5 per cent to $1.47 billion, while local investments plunged almost 58 per cent to $204 million. Europe, the
        57 words
      • Article, Illustration
        Retail index rides high on vehicle sales
        65 2 A SURGE in motor vehicle sales in March pushed the retail sales index to a 14 per cent volume jump. Excluding vehicles, total retail sales rose only one per cent in volume terms, and fell 0.8 per cent in value. For the first
        65 words
      • Article
        Construction sector shrinks 9%
        63 2 THE construction sector's first quarter performance—9 per cent contraction—was its poorest since the last recession. The large supply of housing units in the pipeline and "modest levels of domestic activity" are likely to dampen the sector's growth. The 43 per cent drop in contracts awarded in
        63 words
      • Article
        Transport/comms sector up 5.7%
        53 2 PERHAPS the most consistent performer, the transport/communications sector grew 5.7 per cent in Ql as both the air and sea segments rebounded with the pickup in production activity. Cargo volumes aside, the number of air and sea passengers grew 10 per cent and 16.6 per cent
        53 words
      • Article
        S'pore foreign reserves dip to $124b
        101 2 SINGAPORE'S official foreign reserves fell "marginally" in Ql —by $415 million—to $124 billion, as the overall balance of payments slid into deficit. This resulted from a $1.5 billion fall in the current account surplus as the sharp fall in exports more than offset the
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      258 2 MiUOFPfKiumivii JBuicfctionary Authorised Dealers: SCANSEETRANSLATE BHSSKch^pp* tn a second mm ca» cuowk c* #02-47 s«i m tow* CSTSWiwwqf ontol*ppli*l #02-07 AJbeftCompter D*rll«| Pfcet* ft Elecfrwic IMtrt #01-43. #02-20 Ptopfc'i Parti Ctr UMatyii Xwf #61-06/09 Speaaißtt Stopping Or P*rt»d Mete* > ElnHafci #01-36 Sim Uw Squart PMfta'i Mi* PM LM #01-K96/96A
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  • SINGAPORE AT HOME & ABROAD
    • Article, Illustration
      Lock icon S'pore firm bex.com creates e-trade cyberlink with Taiwan
      488 3  -  Unk nnifies major network spanning South-east Asia and the China region By' Toh Han Shih A SINGAPORE e-commerce firm, bex.com, has created an International cyberlink between Singapore and Taiwan, unifying a major electronic commerce network spanning South-east Asia and the China region.
      SIEW YAW HOONG  -  488 words
    • Article, Illustration
      Lock icon HDB grants for first-time buyers to be cut by $5,000
      800 4  -  Move follows Jan-May cuts; amount to be cut by $1,000 each month from June to Oct By David Boey THE government will cut Central Provident Fund (CPF) housing grants for first-time buyers of Housing and Development Board (HDB) flats by
      FILE PHOTO  -  800 words
    • Article
      SingTech unit comes under interim judicial management
      272 4  -  By, Jennifer Lien CHIP design firm Tritech Microelectronics came under interim judicial management yesterday. The High Court yesterday approved the Singapore Technologies subsidiary's application for Michael Lim, Nicky Tan and Tam Chee Cheong from Price Waterhouse to act as its interim judicial managers.
      272 words
    • Article, Illustration
      Lock icon Lucent sees over 20% growth in Asia
      460 4  -  Microelectronics in region will grow faster than global rate: senior execs By- Annette Pan US-BASED communications systems and services provider Lucent Technologies expects 20-plus per cent growth in the Asia-Pacific region annually, in line or faster than its overaU global growth, its senior
      SIEW YAW HOONG  -  460 words
    • Article, Illustration
      Lock icon HP S'pore sees continued cost pressures despite better H1
      491 4 HEWLETT-PACKARD'S Singapore manufacturing operations, which saw turnover grow 4.5 per cent in the first half year-on-year to US$3.l billion (555.3 billion), will continue to see cost pressures and ongoing restructuring efforts, managing director Cheah Kean Huat said yesterday. Speaking at a
      Source: HP  -  491 words
    • Article
      ABB's Elsag Bailey planning to raise profile in S'pore
      287 4  -  23 staff from gas chromatogr&ph unit to move to Siemens By\ Eugene Low ELSAG Bailey acquired by Asea Brown Boveri (ABB) In January said staff from its gas chromatograph division here will move to Siemens following ABB's sale of the business
      287 words
    • Article
      Why no alternative cash offer for SembRes?
      543 4  -  MiTT-nan Yee Soo Choi via Internet Singapore SO much unhappiness pertaining to Clob but no minority shareholder from Sembawang Resources (Sembßes) or any institutional shareholder has even commented whether it is a fair deal that SembCorp should offer 730 SembCorp shares for every
      543 words
    • Article, Illustration
      Investing in Malaysia comes with great moral hazards
      378 4  -  Wong Kwok Yan Singapore MALAYSIA'S Prime Minister Mahathir Mohamad has blamed Singapore's Clob investors for the collapse in the Kuala Lumpur Stock Exchange's Composite Index in September last year. All foreign fund managers and rating agencies should know that Dr Mahathir is
      378 words
    • Article
      Clob investors seek fairness
      112 4  -  Y Woozeer via Internet Singapore IT would not be inappropriate for the Singapore government to insist on the Clob issue being resolved as part of a bilateral package. After all, the Central Provident Fund (CPF) money of Malaysians will be on the agenda, won't it? Malaysians
      112 words
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  • BANK LIBERALISATION
    • Article, Illustration
      Who will get the new hanking licences?
      1126 5 FOREIGN banks here have started the pushing and shoving for new banking licences. At stake are up to six Qualifying Full Bank (QFB) licences which are to be issued by 2001. This new category of licences will allow the banks to open branches
      1,126 words
    • Article
      Non-bank entities not required to have nominating committees
      541 5  -  Ruling applies only to banks as they play key role in economy: MAS By< Catherine Ong THE Monetary Authority of Singapore (MAS) said it will not extend to non-bank corporations its latest ruling that local banks must set up nominating committees to
      541 words
    • Article, Illustration
      Lock icon ABN-Amro eyeing QFB licence despite BOA deal
      604 5  -  It's awaiting MAS details before giving proposal to HQ Byi Conrad Raj ABN-Amro Bank will continue to pursue a Qualifying Full Bank licence despite its purchase of the retail assets of the Bank of America in Singapore, India and Taiwan. "We are awaiting
      FILEPHOTO  -  604 words
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      11 5 HOCK LOCK SIEW Takes you behind the news The Business Times
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      250 5 The Conference Board, Inc. I TEMASEK MANAGEMENT SERVICES PTE LTD present In the wake of Asia's financial crisis, "EXPERTS" win explain how to structure and motivate your board to become more transparency disclosure are repeatedly effective as well as how to be attractive to the global capital market. cited by
      250 words
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  • ASIA ON THE MEND
    • Article
      Lock icon Rising imports signal Asian pickup: analysts
      750 6 Full recovery depends on strong external demand and US slowdown will have adverse effects Reuters [SINGAPORE] Asia's big trade surpluses are shrinking, but for all the right reasons, as rising imports across the region could herald a fledgling recovery, analysts said. But the bullish
      Reuters  -  750 words
    • Article, Illustration
      Lock icon New RM1.44b fund inflow within 3 months: NEAC
      583 6  -  Fresh funds after easing of capital controls boost EL market: analysts From Diana Oon Abdullah in Kuala Lumpur THE Malaysian government's easing of capital controls on Feb 15 encouraged an inflow of fresh foreign funds totalling 1.436 billion Malaysian ringgit (*****.5 million)
      AFP  -  583 words
    • Article
      Lock icon KL controls must stay 'until next year'
      175 6 AFX-Asia [KUALA LUMPUR] HSBC Markets said Malaysia should maintain its capital controls until at least the second half of next year due to the potential risk of destabilising short-term capital inflows, New Straits Times reported. Head of research John Woods said short-term capital
      AFX-Asia  -  175 words
    • Article
      Profit-taking leads to mixed day for bank stocks
      290 6  -  Expected end of dual listing will ensure they remain in play By Ven Sreenivasan [SINGAPORE] The stocks of banks and related companies had a mixed day as profit-tak-ers cashed in following the sharp run-up by these counters on Tuesday in the wake
      290 words
    • Article
      Lock icon US reacted too slowly over Asia's crisis: SM Lee
      406 6 Beijing could step up military capability in response to bombing of embassy, he says AFP, Reuters [SINGAPORE] Singapore's elder statesman Lee Kuan Yew said in an interview Washington was slow in responding to Asia's economic crisis, particularly in Indonesia and Thailand.
      AFP,; Reuters  -  406 words
    • Article
      Lock icon HK stock intervention focused world on fund flows: Morgan
      430 6 Reuters [HONGKONG] The Hongkong government's stock market intervention was an important move with "brilliant timing" that focused world attention on short term capital flows, Morgan Stanley Dean Witter Asia chairman John Wadsworth said yesterday. Mr Wadsworth said the intervention was one
      Reuters  -  430 words
    • Article
      Lock icon World Bank approves US$400m loans for Indonesia
      232 6 Reuters [WASHINGTON] The World Bank approved US$4OO million (Ss6B4 million) in loans for Indonesia on Tuesday and said another US$l.l billion could be agreed this week. The credits will help ease poverty in urban areas, improve irrigation and pay for banking and social
      Reuters  -  232 words
    • Article
      Lock icon China reports partial success from stimulus
      213 6 AFP [SHANGHAI] China has admitted in a research report that the massive economic stimulus spending package launched by the government last year failed to produce the desired reaction. Published in yesterday's China Securities daily, the report by the State Information Centre also predicted gross
      AFP  -  213 words
    • IN Brief
      • Article
        Lock icon Korea may not need IMF funds
        87 6 AFP [TOKYO] South Korea's economy has improved so much the country may soon no longer need International Monetary Fund loans, IMF chief Michel Camdessus told AFP yesterday. "It is completely possible that tomorrow, or in three months, we would say Korea no longer needs
        AFP  -  87 words
      • Article
        Lock icon No limit to new IMF credit lines
        59 6 AFP [TOKYO] The IMF's new contingent credit lines to help countries threatened by financial contagion will be "unlimited", Mr Camdessus added. "We have not said it yet but they will be unlimited." The new credit lines were to provide another line of defence
        AFP  -  59 words
      • Article
        Lock icon 4.6% growth seen for Taiwan in Q1
        69 6 Reuters [TAIPEI] Taiwan's economic slowdown likely bottomed out in the first quarter as the island's exports began to recover, but private consumption and private investment remained sluggish, a Reuters Poll showed. Eight economists forecast on average that Q1 gross domestic product growth will
        Reuters  -  69 words
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      186 7 x i >/' r -•<>,.•■• v p*:w V- ".v < ■*&■> v |p ..-v >'-• v ,v J p.- y if; A ,v.;: v- AR \f A M 1? O xTL LI ri IYI XV V-/ > <* 5 i r v .'V •<?•» > sm. -"V:- ...V''' #'"V V•'
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  • REGION
    • Article
      Lock icon M'sian GDP seen shrinking 1.45% in Q1
      337 8 KUALA LUMPUR Reuters MALAYSIA'S economy is expected to have shrunk by 1.45 per cent in the first quarter of 1999 year-on-year, but growth is forecast to return in the second quarter, according to a Reuters poll of economists. The second-quarter rebound should give
      Reuters  -  337 words
    • Article
      Lock icon Jakarta to probe report on Suharto billions
      175 8 JAKARTA Reuters INDONESIA wUI set up a team to investigate a Time magazine report that former president Suharto and his famUy built up a US$l5 billion (5125.6 billion)'fortune, Attorney-General And! Ghalib said yesterday. "I wUI set up a legal team to ask for
      Reuters  -  175 words
    • Article
      Lock icon Smaller HK banks must merge to face competition: analysts
      547 8 HONGKONG Bat they say family ownership will make cross-border alliances difficult Bridge News MERGERS and acquisitions among smaller Hongkong banks are "necessary" and "very likely" in order for the banks to share costs and build the scale required to face more
      Bridge News  -  547 words
    • Article
      Taiwan's Worldwide to invest US$1.1b in 2nd chip plant
      641 8  -  From, Macabe Keliher in Taipei IN order to meet growing integrated circuit (IC) demand, Worldwide Semiconductor Manufacturing Corp (WSMC) has announced plans to invest US$l.l billion (5)1.9 billion) in a second foundry chip production plant with the capacity to make 0.18
      641 words
    • Article
      Lock icon Dr M has asked me to step down: Sabbaruddin Chik
      366 8 KUALALUMPUR Tourism minister discloses this ahead of announcement Reuters MALAYSIA'S tourism minister says he has been asked to quit his cabinet post, ahead of a minor reshuffle to be announced by Prime Minister Mahathir Mohamad. Culture, Arts and Tourism Minister
      Reuters  -  366 words
    • NOTE Book
      • Article
        Lock icon China's foreign direct investment slides
        45 8 Reuters [BEIJING] China's actual foreign direct investment fell 12-6 per cent year-on-year in the first four months of 1986 to U5510.24 billion (8117£ billion), the Foreign Trade Ministry said yesterday Contracted FDI slipped a year-on-year 15.78 percent to U5511.42 billion-—Reuters
        Reuters  -  45 words
      • Article
        Lock icon Vietnam plans audit for stats firms
        63 8 Reuters [HANOI] Vietnam is moving ahead with landmark plans to audit for the Qrst time 100 of its largset state firms, although one financial source indicated key corporations may be excluded from the scheme. The source said some of Vietnam's bigfest companies such as
        Reuters  -  63 words
      • Article
        Lock icon HK bankers see'no haircut' on GDE
        62 8 Reuters (BBUING) After meeting Chineee Premier Zhu Rongji yesterday, Hongkong bankers said they were confident they would recover billions of dollars in loans to debt-swamped Guangdong Enterprises (Holdings). "We don't expect a haircut," said EMervynDavieeof Standard Chartered Bank. A haircut—bankers' slang for concedingdebt—has been
        Reuters  -  62 words
    • Article, Illustration
      Lock icon Malaysian satirists push the limits
      1134 8 They seem to have one thing in common the anger they feel toward the govt over Anwar's dismissal and beating IHT A PLAYBILL sold at a political satire shown recently in Kuala Lumpur advised members of the audience what to do if they were arrested.
      IHT; FILE PHOTO  -  1,134 words
    • Article
      Lock icon Lehman said to be under probe by Japan watchdog
      222 9 TOKYO Bloomberg LEHMAN Brothers Holdings Inc, the fourth largest US investment bank, is the subject of a probe by Japan's financial industry watchdog, according to people familiar with the situation. The Financial Supervisory Agency (FSA) dispatched officials to Lehman's Tokyo office
      Bloomberg  -  222 words
    • Article
      Lock icon Samsung plans to cut 12,600 jobs
      164 9 SEOUL Bloomberg SAMSUNG Group, South Korea's third-largest industrial group, plans to cut some 12,600j0b5, or a tenth of its domestic workforce, to save about 2 trillion won (552.9 billion) in labour costs this year. "Job cuts are an inevitable part of restructuring," said Choi
      Bloomberg  -  164 words
    • ASIA Notes
      • Article
        Lock icon Korean bank sector Y2K compliant
        71 9 Reuters [SEOUL] South Korea's banking sector was 99.9 per cent compliant as of end-March in combating the "millennium bug" or Year 2000 (Y2K) computer problem, the financial watchdog agency said yesterday. The 1 Financial Supervisory Service said in a report prepared I Jointly with the
        Reuters  -  71 words
      • Article
        Lock icon Confidence in Aussie economy rises
        79 9 Bloomberg [SYDNEY] Australians'confidence in the economy is near a five-year high this month, after the government unveiled its third straight budget surplus and tipped the economy will grower fester than it expected. Weetpac Basking Corp and Melbourne University's Institute of Applied Economic and Social Research
        Bloomberg  -  79 words
      • Article
        Lock icon Pakistan launches unified forex rate
        71 9 AFP [KARACHU Pakistan ushered in a unified market-based exchange rate for the local rupee yesterday in a move welcomed by bankers and businessmen. THecantral bank abolished the official pegged exchange rate introduced in July last year. The State Bank of Pakistan said on Tuesday that
        AFP  -  71 words
    • Article, Illustration
      Lock icon NZ$ slides after Reserve Bank warning over kiwi's 6% rise
      596 9 WELLINGTON But central bank chief stops short of cutting key interest rate Reuters NEW Zealand's dollar tumbled when the country's Reserve Bank (RBNZ) issued a verbal warning to the foreign exchange market yesterday saying the currency was close to unacceptably
      Reuters; Source: Bloomberg  -  596 words
    • Article, Illustration
      Lock icon Paving the road for Sonia's return
      125 9 [NEW DELHI] Supporters oflndia's Congress Party holding pictures ofparty president Sonia Gandhi as they lie on a road outside her residence in New Delhi yesterday to urge her to continue as party president. The activists seemed prepared for a long siege, erecting a dozen
      REUTERS  -  125 words
    • Article
      Lock icon Aussie Big 4 banks' H1 profits up 23.5%: poll
      217 9 SYDNEY AFP AUSTRALIA'S four major banks recorded total profits of more than A 53.5 billion (Ss4 billion) in the first half of the 1998/99 fiscal year despite fierce competition and shrinking margins. A PricewaterhouseCoopers analysis showed yesterday that combined profits rose
      AFP  -  217 words
    • Article
      Lock icon Govt aborts US$1.7b sale of ailing Korea Life
      363 9 SEOUL Delay a setback to attempts to rebuild financial system Bloomberg SOUTH Korea's bid to rebuild its financial system stumbled for the third time in a month as the government aborted a US$l.7 billion (552.9 billion) sale of the nation's No 3
      Bloomberg  -  363 words
    • Article
      Lock icon Gangsters thrive in Japan firms: poll
      233 9 TOKYO They get paid by 59 major firms last year, says survey of 3491 companies AFP GANGSTERS are thriving in Japan's business world with a survey showing 59 major Japanese companies paid money to racketeers last year, an official said yesterday. The survey by
      AFP  -  233 words
    • Article
      Lock icon Kim: We won't push up rates
      69 9 Reuters [SEOUL] South Korean President Kim Dae-jung said yesterday the government would not intervene in the market to push interest rates higher or the strengthening won lower. "We have no intention to go for a high interest rate regime and we have no intention
      Reuters  -  69 words
    • Article
      Lock icon Bad loans of top Japan banks up 6.3t yen: report
      262 9 TOKYO Tougher standards on non-performing debt cited for rise AFP BAD loans choking Japan's top 15 banks totalled 20.19 trillion yen (***** billion) at the end of the year to March 31, under tougher standards on non-performing debt, a report
      AFP  -  262 words
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      82 9 <^fc> FT M S Training Tomorrow's Professionals TODAY! Chartered Accounting course first time offered in Singapore! Intensive, exam-oriented course Professional, experienced subject specialists Open to Degree and Professional Qualification (ACCA, CIMA, etc) holders Technical Core 1: 6 subjects Core 3 Admitting Exam: case study In addition, students will also undertake
      82 words
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  • THE WORLD
    • Article, Illustration
      Lock icon Fed signals concern US economic growth too hot
      778 11 WASHINGTON Conditions prompting previous rate cuts have improved or no longer exist Bridge News BY ADOPTING a tightening bias towards interest rates, the Federal Reserve sent a clear signal yesterday that it is not fully ready to embrace the so-called "New Era"
      Bridge News; Source: Bloomberg  -  778 words
    • Article
      Japan urged to ease monetary policy
      438 11  -  SAP man says benefits will for outweigh the costs Larry Wee [SINGAPORE] The Bank of Japan should relax monetary policy, and the Japanese yen should be allowed to weaken further, given the limited effect so far of fiscal stimulus packages. Standard Poor's David Beers
      438 words
    • Article
      Fed voices concerns on inflation build-up
      160 11 THE following is the full text of the statement released on Tuesday by the US Federal Reserve. While the Federal Open Markets Committee did not take action today to alter the stance of monetary policy, the Committee was concerned about the potential for a
      160 words
    • Article
      Lock icon Change of Fed stance won't burn Asia's economies
      571 11 Higher US rates don't spell end of Asian rate cuts Reuters [SINGAPORE] The US Federal Reserve's move towards a tightening bias will affect capital flows in and out of Asia, but the region is well insulated against any adverse impact of more
      Reuters  -  571 words
    • Article
      Lock icon US oil producers to file anti-dumping charges
      258 11 WASHINGTON FT INDEPENDENT US oil companies are planning to file an unprecedented anti-dumping complaint against at least four oil-producing nations, claiming their governments had a policy of undercutting US prices to put American producers out of business. The case, to be brought by
      FT  -  258 words
    • WORLD Watch
      • Article
        Lock icon Summers may up heat tor Asia reform
        78 11 Bridge News [SINGAPORE] Asian economies may face increasing pressure to step up their pace of structural adjustments going forward, following the succession of Lawrence Summers as US Treasury Secretary, given the latter's emphasis on reform, some market watchers say. Others, however, argue that
        Bridge News  -  78 words
      • Article
        Lock icon Russia revokes licences of 12 banks
        76 11 AFP [MOSCOW] Russia's Central Bank said Tuesday it had revoked the licence of 12 troubled banks, including former top 10 Russian finance house Menatep, the Interfax news agency reported. Also named were Unikombank, which banking insiders said was formally the authorised bank for the
        AFP  -  76 words
      • Article
        Lock icon Nato consensus on Kosovo under strain
        79 11 Reuters [LONDON] Nato's consensus on Kosovo is under growing strain as the eight-week-old air campaign against Yugoslavia turns into a grinding war of attrition. Britain, seemingly alone, is pushing for the use of ground troops to force a military victory. Germany and Italy are
        Reuters  -  79 words
    • Article, Illustration
      Lock icon Star Wars fans jubilant
      148 11 [NEW YORK] Costumed fans waiting in line at the Zeigfeld Theater in New York, on Tuesday/or the first showing of the new film Star Wars Episode I: 'The Phantom Menace The film opened at midnight last night. Over at Hollywood some fans say George Lucas' science
      REUTERS  -  148 words
    • Article
      Lock icon WTO may need to start hunting for new chief: official
      360 11 GENEVA, After weeks of stalemate, it may deny both Moore and Snpachai top post Reuters, AFP AFTER weeks of deadlock, the World Trade Organisation (WTO) is getting close to declaring that neither candidate for its leadership can get the job,
      Reuters,; AFP  -  360 words
    • Article
      Lock icon Ted Turner Jr plugs the Internet for mass market
      393 11 NEW YORK Reuters RE "Teddy" Turner, son of media mogul Ted Turner, is getting ready to deliver the Internet to the masses through a 21st-century version of Amway Corp. Mr Turner is chairman of Compu-Dawn, which sees the roughly 60 per
      Reuters  -  393 words
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  • EDITORIAL & OPINION
    • Article, Illustration
      Lock icon Are IMF loans to Russia prudent?
      738 12  -  THE BOTTOM LIMB OPINION By Reginald Dale TIHT FOR most of the *****, one of the hardest questions facing the United States and its allies has been what to do about Russia, economically as much as geopolitically. In Washington, debate has raged between those
      TIHT  -  738 words
    • Article
      IN OTHER WORDS
      154 12 'I look at (boxing's sanctioning bodies) as governmental bodies. If you want to play, you've got to pay.' -Dm King a boxing promoter denying that donations he made to boxing's governing bodies are aimed at gaining advantage for his fighters 'Unless the Security Council is restored to
      154 words
    • Article
      Israel votes for peace
      578 12 EDITORIAL ISRAELI voters seized the chance to ditch Benjamin Netanyahu —a rebuke of the more than three years of sustained effort by his ruling Likud coalition to stall the Middle East peace process —and elected Ehud Barak, the Labour Party candidate, as their new prime minister.
      578 words
    • Article, Illustration
      Lock icon No such thing as a controlled crash
      1146 12  -  It's odd the term 'babble economy'is not being used yet on the US boom From, Anthony Rowley in Tokyo AS if to compensate for its failure to foresee and forewarn of the economic crises which have roared tornadolike through the world's "emerging markets"
      FILE PHOTO  -  1,146 words
    • Article, Illustration
      WHAT THE OTHERS SAY
      1019 12 ONE of the biggest doubts about the European single currency was how one interest rate could be appropriate for the 11 countries that joined economic and monetary union. In the long run, it is hoped, cycles will converge. But for now, the economies are diverging. There
      1,019 words
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  • EXECUTIVE LIFESTYLE
    • Article, Illustration
      Lock icon The bounty of love
      499 13  -  There are riches to be had from affairs and the Leech Woman has learned the tricks of the bade By] Maureen Dowd NYT [NEW YORK] A colleague once brought me a present from Sunset Strip: a vintage poster of a B-movie called The Leech Woman, a
      NYT; FILE PHOTOS  -  499 words
  • Page 13 Advertisements
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      Page 13 Advertisements Column 1
      351 13 WhCTctojniiC) dine nnd /(f'S/C'S o/ //c 'II (>/<// /<)/* -V^l\ r>( j il M.n l )V> m Fashion Sho W Every f- md a y ONLY AT DISCOVERY PUB! For more information call Tel; 869-2277 CELEBRATE THE LAST CENTURY WITH DE GRAND JgX //.7/>/>l lhni)\ to I >1 .1! £1
      351 words
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      Page 13 Advertisements Column 2
      66 13 I#l Coffeehouse Ist floor The Magic of Thailand at Chatterbox Coffeehouse 9 to 23 May 1999 Enquiries: 831 6291 1 m f I -mMandarin Singapore 333 Orchard Road, Singapore *****7. Tel: 737 4411 Fax: 732 2361 E 11 f Advertise in Wine, Dine Entertain of The Business Times. Contact Jennifer
      66 words
  • Page 13 Miscellaneous
    • Miscellaneous
      Page 13 Miscellaneous Column 1
      853 13 CRYPTIC CROSSWORD AfflftM 1 Bacterium may be found on example -LJ— j 12 Grasslands mowed as ordered 15 Imprisons and reduces to si- —IhJ—|—^ 16 Treble the score (5) 171 come back to a matter of trivial importance (4) 19 The Heath Robinson's heart j[| j H| [|f3| j j
      853 words
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  • MOTORING
    • Article
      Petrol pump sales fell by $20m last year
      428 14  -  Oil firms' takings hit by record number of cars scrapped, electronic road pricing and economic downturn By* Christopher Tan [SINGAPORE] PETROL pump sales shrank by about $20 million last year. This is due largely to a higher number of cars being scrapped,
      428 words
    • Article
      The OMV guide
      1083 14 Average open market value of cars legisleied in April 1999. monmK cc mtmm t«B 34J227 ■mOAUTO 1,806 47,823 mnxmm 1.991 99.743 SRSHUjr IZ |S SIS SHSSS* 2.8 87.288 nBsci 11 if *****4 aaawotyAmssEM, -H*ie aiow QANWOO LAfOOSE M 9J»7 DMIMOIANOS8KA '.>GK 11,977 ttHWQOLANOS9KM:f10,222 QAIWOO NUBFtA SX A
      1,083 words
    • Article, Illustration
      Lock icon Comfort aims to lead in car maintenance business
      457 14  -  Company plans to corner 10% of market in 3-4 years Reports by Christopher Tan [SINGAPORE] Listed transport operator Comfort Group has ambitious plans In the vehicle maintenance market. It aims to become the biggest player in the arena. The vision took shape
      ARTHUR LEE  -  457 words
    • Article
      ST Auto sees bright future in accident repair
      210 14 [SINGAPORE] ST Auto, a unit of listed ST Engineering, sees a brighter future in accident repair. Since setting up Star Accident Repair at its Portsdown Road site in November 1997, the company has opened three satellite facilities to cater to growing volume.
      210 words
    • BUMPER to BUMPER
      • Article
        Borneo Motors to recall 270 cars
        214 14 TWO hundred Lexus GS3OO and 70 Toyota Crowns sold by Borneo Motors will be recalled to have a suspension fault corrected. But it is unknown how many parallel-imported Toyotas are affected. According to Toyota spokesman N Eto, the affected Lexus ware made between July
        214 words
      • Article
        ST Elec wins $22m traffic signals deal
        71 14 ST Electronics has landed a 122.1 million oontract to retrofit Singapore's 58,000 traffic signals with light-emitting diodes (LEDs) and lens covers. The project will take two years to complete. LEDs are superior to current incandescent or halogen bulbs because they remain bright even
        71 words
      • Article
        Petrol pump prices up 2.5c a litre
        51 14 PETROL pumpprice.hiT.goM!® by ajcmt«p*iltrß. Effective last Friday, the increase was "in response to the recent sharp increase in posted petrol prices",according to one company spokesman. The upward adjustment was the second in five weeks. On April petrol pomp prices were raised by four
        51 words
      • Article
        Delphi bags Toyota quality award
        62 14 DELPHI Automotive Systems has earned quality awards from Toyota and its subsidiary, New United Motors Manufacturing Inc (Nummi). In 1908, none of the halfchafts Delphi supplied to Toyota of Japan was rejected, winning it a "certificate of achievement in quality performance". Nummi, a venture between
        62 words
      • Article
        Ford Credit buys Thai finance firm
        93 14  -  Christopher Tan FXDRD Motor Credit Co, the financial services arm of the American car group, has becoms the first MNCtobuy overa Thai finance company. FOrd bought Safcasin Finance Co for an undisclosed sum and renamed it Primus Finance Co. Hie new set up complements
        93 words
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      Page 14 Advertisements Column 1
      69 14 brought to you by Any petrol can power your car, but Formula Shell XO does more. Its revolutionary formulation cleans your engine as you drive, giving you a silky, smooth ride. Powerful Vaporon™ energy boosters unleash extra energy the instant you step on your accelerator. It's the most advanced petrol
      69 words
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  • COMPANIES & MARKETS
    • Article
      Econ Int'l clinches US$160m Korean project
      425 15  -  It will tie-np with Hyundai Engineering to bnild a highway service centre By. Ang Wan May [SINGAPORE] Engineering and construction group Econ International has clinched a US$l6O million (*****.2 million) Korean highway service project. It will partner South Korea's Hyundai Engineering Construction Co and
      425 words
    • Article, Illustration
      Lock icon Singaporeans sell Aussie properties
      418 15 Three deals worth As36J>marefor commercial, office blocks and a hotel Bernama [MELBOURNE] Property magnate Goh Cheng Liang has sold his holding in a 15level commercial building in Francis Street, Sydney, for A 516.5 million (SslB.B million) to Trafalgar Properties in a joint venture with Hayson Group.
      Bernama; FILE PHOTO  -  418 words
    • Article
      Familiar ring to UOB's loan deal with CK Tang
      697 15  -  HOCK LOCK SIEW Lee Han Shih MR Wee Cho Yaw is bot-tom-fishing again. The banker, experienced at picking up distressed properties at low prices for his United Overseas Bank group, has set his eye on one of the most glittering commercial
      697 words
    • Article
      Frt Links chairman unloads major stake
      226 15  -  By, Ang Wan May [SINGAPORE] Freight Links Express Holdings chairman and controlling shareholder David Lim Teck Hiang's stake in the company has been cut sharply over three days from 44.1 per cent to 32.9 per cent. The most active selling by Mr Lim occurred
      226 words
    • Article
      UOB shareholders and directors cash in on rally
      208 15  -  By< Carol Eng [SINGAPORE] United Overseas Bank directors and shareholders appear to have cashed in on the latest bank stock rally no less than nine either sold existing shares or exercised their options and cashed out immediately. Some 147,000 shares were disposed
      208 words
    • Article
      STI could hit 2,200 this year: Credit Lyonnais
      426 15  -  Massive liquidity, earnings recovery lifting market Fronv Quak Hiang Whai in Hongkong THE Straits Times Index (STI) could head for 2,200 this year on the back of massive local liquidity and a turnaround in the earnings cycle, Credit Lyonnais Securities (Singapore) has
      426 words
    • COMPANIES
      • Article
        IJM Corp sees construction pick-up after govt boost
        464 16  -  Construction firm notices snrge in bidding activities in second quarter From Ruth Wong in Kuala Lumpur IJM Corporation Bhd, one of Malaysia's more prominent listed construction firms, sees a pick-up in construction activities following the government's move to pump prime the economy.
        464 words
      • Article
        Lock icon SingTel's computer unit sees double-digit profit growth
        381 16 NCS cites 10-15* increase in s&les and cost cuts Bloomberg [SINGAPORE] National Computer Systems, the computer arm of Singapore Telecommunications, said it expects "double-digit" profit growth this year, aided by cost cuts. That's even though Singapore's computer services companies have seen sales and
        Bloomberg  -  381 words
      • Article
        TAC plans issue of 50m shares for cash
        179 16 [SINGAPORE! Singaporelisted Thai mobile phone operator Total Access Communication (TAC) yesterday said it is proposing to issue 50 million new shares for cash. The company said the proceeds raised would be used to repay debts. TAC said the issue and pricing will
        179 words
      • Article
        Lock icon Commerce Asset to buy 70% stake in Amal
        101 16 AFX-Asia [KUALA LUMPUR] Commerce Asset Holdings said it plans to purchase a 70 per cent stake in Amal Assurance from The New Straits Times Press (Malaysia) for 90.72 million ringgit (5540.8 million) In a statement to the Kuala Lumpur Stock Exchange, Commerce
        AFX-Asia  -  101 words
      • Article
        Goldtron China units in share swap
        189 16 [SINGAPORE] Goldtron is entering into a stock exchange agreement and plan of consolidation with Tongkah Holdings Bhd and US-incor-porated Reliance Technical Services International Inc (RTSII), the Sesdaq-listed group announced yesterday. Under the agreement, Goldtron Electronics (GES) will transfer its entire stake in two China-based
        189 words
      • Article, Illustration
        Lock icon Colex to up sales by 50% with ENV job
        393 16  -  Firm also keen on next tender for Hongang-Punggol By, David Boey SESDAQ-LISTED waste management specialist Colex Holdings said yesterday its annual turnover should pile on some $10 million, or 50 per cent growth, in its next financial year. The growth would
        FILE PHOTO  -  393 words
      • Article
        Lock icon StanChart's Nakornthon bid said to be on hold
        198 16 Bangkok needs more time to ponder potential impact AFX-Asia, Reuters [BANGKOK] Standard Chartered pic's takeover of Nakornthon Bank remains on hold while the government determines how it can best obtain funds that form an essential part of the deal, the Bangkok Post
        AFX-Asia,; Reuters  -  198 words
      • Article
        Finance firms waiting for MAS rules on foreign ownership
        350 16  -  By Conrad Raj [SINGAPORE] Singapore's finance companies will consider merging their foreign and local tranches once the Monetary Authority of Singapore lifts their 20 per cent limit on foreign ownership. A Hong Leong group spokesman said it was looking into the
        350 words
      • COMPANY Briefs
        • Article
          Dragon Land clarifies placement price
          69 16 [SINGAPORE] Dragon Land yesterday clarified that its proposed placement share price of 15.75 US cents is subject to confirmation and change on the date of execution and that the price will not be at a discount of more than 10 per cent to the weighted
          69 words
        • Article
          Lock icon Promet's Ipco shares forced sold
          55 16 AFX-Asia [KUALA LUMPUR] Promet Bhd said Hong Leong Finance in Singapore has forced sold 421,000 Ipco International Ltd shares belonging to Promet at 73.3 US cents per share. In a statement to the Kuala Lumpur Stock Exchange, Promet said its current shareholding in Ipco stood
          AFX-Asia  -  55 words
        • Article
          Heshe buys rest of restaurant operator
          69 16 [SINGAPORE] Heshe Holdings has acquired the remaining 30 per cent of the issued capital of Justfaith, the franchisee operator of Country Manna Restaurant at Funan Centre. This cost about $117,400 cash and was transacted at Justfaith's net tangible assets as at March. The acquisition
          69 words
        • Article
          Brunei firm no longer SingTel associate
          42 16 (SINGAPORE] Singapore Telecommunications yesterday said Integrated Communications, a Brunei firm set up for marketing of telecommunications equipment, is no longer its associate firm. This follows SingTel's sale of its 25 per cent interest in the company.
          42 words
        • Article
          New Hariman substantial shareholder
          52 16 [SINGAPORE] Harimau Investments Ltd (HIL) yesterday said the City of London Investment Group has recently declared itself as substantial shareholder with a 5.64 per cent stake. DBS Nominees is the registered holder but the beneficial holders are MP Emerging Markets Country Fund and The Emerging Markets
          52 words
        • Article
          Nod for Jaya share buyback
          35 16 [SINGAPORE] At an extraordinary general meeting yesterday, Jaya Holdings received permission to buy back its own shares in accordance with the Companies (Amendment) Act 1996 and other rules and regulations.
          35 words
        • Article
          Excel director sells 2.4m shares
          37 16 [SINGAPORE] Excel Machine Tools director Tay Choon Siong has sold 2.4 million newly acquired shares in the company over three days. This represents 1.36 per cent of the company's issued share capital.
          37 words
    • REGIONAL COMPANIES
      • Article, Illustration
        Lock icon Softbank Corp tumbles into the red with 15.45b yen loss
        428 18 Japan's Net-savvy firm suffers first loss since '94 dne to poor earnings at US publishing unit Reuters [TOKYO] Japan's Internetsavvy software company Softbank Corp said yesterday that it posted a loss on its ongoing operations for the first time since
        Reuters; FILE PHOTO  -  428 words
      • Article
        Lock icon Mitsukoshi to cut 12% of staff through early retirement
        288 18 By axing 1,151 jobs, dept store operator will save 10.7b yen Bloomberg [TOKYO] Mitsukoshi Ltd, Japan's second-largest department store operator, said it will cut 1,151 jobs through early retirement. This amounts to 12 per cent of its parent workforce of 9,800.
        Bloomberg  -  288 words
      • Article
        Lock icon Japan Telecom net profit drops 21.5% on rate cuts
        452 18 With earnings hit by competition, firm warns of farther erosion of profit Bloomberg [TOKYO] Japan Telecom Co, the nation's fourth-largest telecommunications company, posted a decline in earnings for the year ended March 31 as competition forced it to charge less for
        Bloomberg  -  452 words
      • Article
        Lock icon A$240m bid sparks battle for Sydney Futures Exchange
        356 18 Bloomberg [SYDNEY] Computershare Ltd, Australia's leading securities trading software designer, bid As24o million (***** million) in cash and stock for the Sydney Futures Exchange (SFE), setting up a takeover battle with Australian Stock Exchange Ltd (ASX). Computershare said its bid, which tops
        Bloomberg  -  356 words
      • COMPANY Briefs
        • Article
          Lock icon HK's Pearl Oriental buys into Lancelot
          75 18 AFX-Asia [HONGKONOI Pearl Oriental Holdings said it has agreed to acquire a 50 per cent stake in Lancelot Holdings, a fin* engaged In telecoms development to North Korea, for HK523.22 million (515.1 million). It will make the payment via the issue of 100 million
          AFX-Asia  -  75 words
        • Article
          Lock icon Formosa Petrochem to make profit
          53 18 Bloomberg [TAIPEI] Formosa Petrochemical. Taiwan's Formosa Plastics Group's unlisted oil refining unit, said it wiH earn NT$l.3 billion (5187.9 million) this year as mors new plants come on line. The expected profit would isji —nl a turnaround from lossss ofNTISW million in lflggand NTfl.6B billion
          Bloomberg  -  53 words
        • Article, Illustration
          Lock icon Smallest MD recorder
          61 18 AFP [TOKYO] An employee of Japan's Matsushita Electric Industry, known for its Psnasonk and National brands, showing off tha world's smallest and lightest MO recorder "SJ-MR100" yesterday. The new portable MD recorder, weighing l36gm, can iecordfbr 12 hours and play back for 25 hours. The firm wlßpotlt
          AFP  -  61 words
        • Article
          Lock icon AAPT to enter online commerce
          73 18 Bloomberg (SYDNEY] AAPT Ltd. Australia's No 8 ranked telecoms company, expects to announce soon its first move into the online commerce market. AAPT chief executive Larry Williams said the company's move into online transactions could involve "partnerships, and in one case an acquisition". The company
          Bloomberg  -  73 words
        • Article
          Lock icon Profit slunge at Tokyo Electron
          62 18 ATP [TOKYO] Japan's Tokyo Electron yeetsrday said the Asian crisis dragged profits down a steep 00.8 psrcent in the past year to March. The workfs second largset came to Just 1.9 billion yen (512&2 million). Pretax profit slid 89.2 per cent to 6.2 billion yen,
          ATP  -  62 words
      • Article
        Lock icon Casio suffers 8.5b yen group net loss due to sharp fall in sales
        258 18 AFP [TOKYO] Japan's Casio Computer Co Ltd said yesterday that the past year to March brought its first loss since the firm was listed, as sales tumbled. Casio, one of the world's leading digital watchmakers, said it
        AFP  -  258 words
    • INTERNATIONAL COMPANIES
      • Article
        Lock icon British Tel's Q4 net income up 36%
        432 19 Europe investments, AT&T global partnership starting to bear fruit Bloomberg, Reuters [LONDON] British Telecommunications pic said yesterday its investments in Europe and its global partnership with AT&T were starting to bear fruit after reporting a 36 per cent increase in net income on
        Bloomberg,; Reuters  -  432 words
      • Article, Illustration
        Lock icon Dell Q1 earnings up 42% to US$434m
        531 19 Company matches earnings forecast; revenue up 41% NYT, Bloomberg [NEW YORK] Dell Computer Corp posted first-quarter earnings on Tuesday that matched analysts' estimates, but the results disappointed some investors. For the quarter ended April 30, Dell reported earnings of US$434 million (*****.7 million),
        NYT,; Bloomberg; Source: Bloomberg  -  531 words
      • Article
        HP launching new e-services technology in Asia
        528 19  -  Company shortlisting partners for the A«itn markets From! Raju Chellam in Palo Alto, California US infotech giant HewlettPackard Company is shortlisting 25 partner companies in Asia to introduce its new e-services technology and strategy to Asian markets, said HP chief executive of the
        528 words
      • GLOBAL Briefs
        • Article
          Lock icon Two US retailers'results beat forecasts
          89 19 Reuters [CHICAGO] tJS-based retailers like JC Penney Co Inc and Dayton Hudson Corp have posted better than expected quarterly gains. JC Penney profit topped expectations, despite a 4 per cent dip. Net income totalled US$l67 million (Ss2B6 million) or 61 cents per diluted share, for
          Reuters  -  89 words
        • Article
          Lock icon Deere earnings down 59%
          53 19 FT [CHICAGO] Deere Co, the US agricultural and construction equipment maker, said profit fell 59 per cent in the three months to April 30. Deere made US$l5O.l million (***** million) or 65 cents a share, against U*****.2 million a year earlier. It said it would have
          FT  -  53 words
        • Article
          Lock icon Lycos cuts April quarter loss to US$13m
          84 19 Reuters [BOSTON] Internet portal firm Lycos Inc posted a net loss of US$l3.3 million (5522.8 million), or 31 cents a share, in its quarter to April 30 against a US$22 million loss, or 71 cents, a year earlier. Excluding merger and acquisition related
          Reuters  -  84 words
    • FINANCE & COMMODITIES
      • Article, Illustration
        Lock icon Gold hits 20-year low on fears of more sales
        457 20 UK plan to sell 415 tonnes sparks 6% fall; other nations, major holders likely to follow snit Bloomberg [NEW YORK] Gold fell for the fourth time in five sessions, reaching the lowest closing price in 20 years, amid concern that some
        Bloomberg; Source: Bloomberg  -  457 words
      • Article, Illustration
        Lock icon HSBC's takeover of Safra group poses risk
        264 20 Bridge News [HONGKONG] HSBC Holdings' proposed US$lO.3 billion (5517.6 billion) takeover of two banks controlled by Leba-nese-born banker Edmond Safra could pose a risk to their private banking client base, the group's chairman John Bond said. Efforts were being made to ensure the
        Bridge News; FILE PHOTO  -  264 words
      • Article
        Lock icon US regulators call on Congress to clarify OTC derivatives status
        243 20 Reuters [WASHINGTON] US financial regulators have urged Congress to act to clarify the legal status of over-the-count-er derivatives contracts in its bid to overhaul the law governing US futures and options markets. A House of Representatives Agriculture subcommittee held the
        Reuters  -  243 words
      • Article
        Lock icon Eurex, CBOT resume talks on forming trading alliance
        429 20 Two exchanges' execs met in Italy over weekend to restart negotiations Bloomberg [FRANKFURT] Eurex, the world's largest derivatives exchange, and the Chicago Board of Trade, the world's second-largest, have resumed talks aimed at forging an alliance after the CBOT voted against a
        Bloomberg  -  429 words
      • Article
        Lock icon Germany's Mannesmann raises record 3b euros in bond market
        286 20 FT [LONDON] Europe's fastdeveloping corporate bond market reached a milestone on Tuesday when Mannesmann, the German engineering and telecommunications group, raised three billion euros (555.5 billion) in the biggest issue yet from a European company. Mannesmann's bonds issued to finance recent
        FT  -  286 words
      • Article
        FOMC's 'tightening bias' dampens sentiment
        125 21  -  m—u« Reports MS& Singapore Index Edward Cheung, Jardine Fleming THE MSCI Singapore Index opened higher yesterday after the Federal Open Market Committee (FOMC) left US interest rates unchanged and Singapore first-quarter gross domestic product figures showed a rise of 1.2 per cent year on year.
        125 words
      • Article
        Futures weaker on concerns over US rates
        176 21  -  MSCI Taiwan itatnres Cecilia Woo Refco Singapore THE Simex MSCI Taiwan Stock Index futures softened by 2.7 points at the close yesterday despite the 29.09-point gain in the Taiex. Concerns about the Fed raising interest rates because of accelerating inflation put investors on
        176 words
      • Article
        Lock icon Oil prices edge up but high US crude inventories still a threat
        376 21 ENERGY REPORT Reuters [LONDON] Oil prices struggled uphill yesterday but the gains looked vulnerable amid evidence of high US crude inventories in the world's largest petroleum market. Benchmark Brent blend crude for July traded eight cents higher at
        Reuters  -  376 words
      • Article
        Lock icon CURRENCY REPORT
        318 21 Reuters London THE dollar got a boost yesterday from the US Federal Reserve's policy-setting body's move to a tightening bias, and the currency was likely to test yet higher ground against the euro and yen, analysts said. "The dollar is preparing for a push higher against the euro,
        Reuters  -  318 words
      • Article, Illustration
        Untitled
        992 21 mTBRBAHK CROSS RATES May li Sg "r D" m MtaHU* Ym Wo« 1 IBS Nil to H%o tt tmi Ur m$ 9M N1 U* XT l02 3 0977 "2 Of" <»4 U24 5.159 28.425 53.652 0J23 7.983 2328 *****3*35 25.126 1140 AM 1002 ***** 24*1 8.411 0 665 rf~T n
        992 words
      • Article
        Untitled
        1642 21 SICOM FUTURES May *'**,**< 4 vijj&J xk Tpv nmn (Mm doH*9 M <t SJQpa) RSSICONTRACTttcMbto) Oom Votom Oms 5* t— Sott (twwt) lutorwt Jw9» 102.50 90 J»i 99 103.25 77* *«99 105.00 105.00 ***** SO 375 S«p 99 (08.00 275 Oct/Dee 99 ***** fW.00 T12.50 375 600 JmAtor 00 07.25
        1,642 words
    • Article, Illustration
      Lock icon HONGKONG
      1368 22 AFP Q Hang Seng «J> HONGKONG share prices fell 1.8 per cent yesterday with the key index dropping below the 12,500-point resistance level due to worries over the direction of interest rates, dealers said. "The market sentiment has been affected by concerns of a potential upside in US interest
      AFP  -  1,368 words
    • Article, Illustration
      Lock icon CHINA
      563 22 Reuters Q Steuben B Index +0.47 SHENZHEN'S B shares closed higher yesterday thanks to late buying fuelled by surges in the domestic currency A shares, analysts said. The A index soared 16.36 points, or 4.9 per cent, to 350.13 on market talk that Beijing would soon allow domestic brokerages
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  563 words
    • Article
      Lock icon TAIPEI
      285 22 AFP PI WP Index *2101 TAIWAN share prices closed 0.4 per cent higher yesterday as bargain-hunting set in amid market consolidation, dealers said. "Investors are turning to low-priced stocks in plastics and technology sectors because they can't find buying incentives anywhere else," said Yu Yin-kai, manager of Grand Cathay
      AFP  -  285 words
    • Article
      WORLD STOCK MARKETS
      1858 22 MntrMt •»w» tm* *h 34 Group 6.85 -0.03 Abtoy National 12.98 -0.06 At Foods 4.92 0.22 A B Ports 2.84 a03 AlManca Laicastar 8.63 0.29 AMod Oomocq 5.60 0.05 AWod Zurich 7.91 0.27 Anglo Amarkan GoM 41.80 0.40 ASDA Group -0.03 Bank of Scotland 8.99 0.17 Barclays
      1,858 words
    • Article
      Lock icon TOKYO
      1572 22 AFP Nikkei 22S -250.44 SHARE prices in Tokyo slid 1.5 per cent yesterday with investors increasingly wary of higher US interest rates and rekindling worries about Japan's banking system, brokers said. The key Nikkei index on the Tokyo Stock Exchange lost 250.44 points to finish at 16,128.18, extending its
      AFP  -  1,572 words
    • KUALA LUMPUR STOCK MARKET
      • Article, Illustration
        Lock icon Shares pull back as investors lock in gains
        333 23 AFP Q Composite Index -456 MALAYSIAN share prices feU 0.6 per cent yesterday in heavy trade due to profit-taking on index-linked stocks, dealers said. A dealer with a local brokerage said losses were due to quick profit-taking after the market's substantial gains
        AFP  -  333 words
      • Article
        Untitled
        7676 23 'jiCcMMMf prefects I"* Last Vol Day Net Cap HH> Lew Ctw»n> 6ate '000 MH> Law P/I f* 350 2SS Ailnomoto 330 20 t3 350 330 t9.3 141.9 .22 .25 93 358 99 90 137.1 2*0 220 Apollo Food Hlg 272 -9 15 290 270 9.5 KM.* 522 "5 ■V*?1K L
        7,676 words
    • WARRANTS, OPTIONS & REGIONAL MARKETS
      • Article
        Eltech warrant: watch for volumes first
        187 24  -  WARRANT WATCH -By Ven Sreenivasan THE controversial and highly-publi-cised extension of the expiry date for the Freight Links 1999 warrant has drawn attention to two other warrants which are due for expiry soon. Both are threeyear instruments, which means they qualify for a two-year
        187 words
      • Article
        CLOB INTERNATIONAL
        210 24 HONGKOM STOCKS Or Cr 52-Wk La*t Vol Day Loot Quote Dtv Mi VM Not M Coo Ht» L— Stno Company So* CQQQ) Ht» Cow Buy* SoOf Cw H P/t SfflO 345 173 5123 CDC (2000) HK 325* 297.5 325 6 3.7 2.5 n 6292.5 5124 Cotftov P»c 20c
        210 words
      • Article
        Untitled
        2205 24 BONDS, LOANS IWAM ANTS m 52-*k Lnt Vol Day Lad Quota Avg High Low Stno Company Solo ♦or- COOO) High Low Buyor Sailor Prlc« 25 3 1 3160 "Acof ******1USS 21 unch ISO 22.S 21 21 21.5 35.5 4.5 s 3164 Acma ******4 28 -0.5 665 30 27.5 27.5 28
        2,205 words
      • Article
        Lock icon WELLINGTON
        292 24 AFP Q Wellington -1111 NEW Zealand shares dipped 0.9 per cent yesterday amid confusion over the direction of interest rates, dealers said. The NZSE-40 Capital Index fell 19.91 points to 2,170.69 on turnover of NZ598.66 million. Telecom accounted for NZ543.45 million of total market turnover. AFP Mi?n *t- rtm
        AFP  -  292 words
      • Article, Illustration
        Lock icon BANGKOK
        864 24 AFP H SET Intel +IJ6 THAI share prices closed off their highs yesterday, adding 0.4 per cent after succumbing to profit-taking in the afternoon session, dealers said. The benchmark Stock Exchange of Thailand (SET) Index rose 1.95 points to 483.50, off a high of 491.35, in volatile trade. Investors
        AFP  -  864 words
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        Lock icon SEOUL
        358 24 AFP Composite Index +SJI SOUTH Korean shares inched up 0.8 per cent yesterday on strong foreign buying in selected banks, dealers said. Prices gained on bargainhunting following recent losses although programme selling limited the rises, Seoul Securities analyst Moon Jong Kwan said. The Korea Stock Exchange Composite Index closed
        AFP  -  358 words
      • Article
        Lock icon SYDNEY
        659 24 AFP PAflOrdmiriaß -18.4 AUSTRALIAN share prices drifted 0.6 per cent lower yesterday on Wall Street's fall with resource stocks among the hardest hit, brokers said. The All Ordinaries Index surrendered 18.4 points to 2,981.20. The All Resources Index lost 19.3 points to 1,200.70. The All Industrials Index slipped 22.3
        AFP  -  659 words
      • Article, Illustration
        Lock icon JAKARTA
        709 24 AFP U Composite Indei +15.71 INDONESIAN share prices jumped 2.7 per cent in volatile trade yesterday on late bar-gain-hunting, with players restrained by the start of the campaign for the June 7 elections, dealers said. They said shares also got a boost from the decline in Bank Indonesia Certificates
        AFP  -  709 words
      • Article
        Lock icon MANILA
        329 24 AFP n Manila -77.48 PHILIPPINE share prices closed 3.1 per cent lower yesterday due to continuing fears that the US Federal Reserve would eventually raipe interest rates. The Philippine Stock Exchange Composite Index fell 77.48 points to close at 2,390.82 points. Volume fell to 8.43 billion shares while value
        AFP  -  329 words
    • Article
      STOCK EXCHANGE OF SINGAPORE: MAIN BOARD
      7083 25 Transaction date: May 19 52"** Last Vol Day Last Quota Olv Dtv VM Nat Cao Awl Hm» L— SIM. rimI I Saia COOP) High Law Buyar Sa«ar H C P/l tm! PrtH MULTI-INDUSTRY 127 17.5 m b 1000 Acma 50c 114 cd -2 1050
      7,083 words
    • Article
      SESDAQ
      1429 25 L«*t V«t Day Last Ouota Olv Olv YM Nat Cap Avg t*» M*» CltH| »ala COOP) M+ L— *—Of Cw W $SfPrto MAJIUFACTURfMO X c 2049 AS Auto 10c 115 -3 1870 122 113 114 115 IS N 7 1J >0.8 13U 116 .12 at C ?S5! 8 5
      1,429 words
    • STOCK EXCHANGE OF SINGAPORE
      • Article
        Untitled
        248 26 Stwto Vetame Frt Links 20c 100,000,000 CM Telecom HK75c 39.857,000 Econ Intl 20c 35,594,000 CSCHIdgslOc 20,790,000 Hotung Inv NTS 19,167,000 Gokttron20c 18,796,000 Asia Food*Prop 18,204,000 Popular Wc 17,489,000 GES Intl Ltd 20c 14,641,000 E»coi20c 13,889,000 Stedu MS Foreign 75,188,656 SM Foreign, 62,073.283 OCBC Foreign 60,796,126 JOB Foreign 57,991,903 OUB Foreign
        248 words
      • Article, Illustration
        Property shares hit by news of cut in HDB housing grants
        622 26  -  STOCK MARKET COMMENTARY Local tranches of banks' stocks take a breather as foreign tranches recover some of their losses By Ven Sreenivasan JITTERS on the property stock front over a cut in public housing grants dragged the Straits Times
        622 words
      • ON THE GRAPEVINE
        • Article
          Bulls take nets
          63 26 UPBKAT about the world economy? Then try this chain argument from Paul Vokker, former chairman of the US Federal Reserve: 'The fate of the world economy is now totally dependent on the growth of the US economy, which is dependent on the stock market, whose growth is
          63 words
        • Article
          A bit more youth wouldn't hurt
          61 26 AGEISM seems to have become a side issue in the financial sector liberalisation. Elsie Foh, managing director at DBS Bank, said DBS has a young team with a generally shorter history. So although having a long tradition will still be a cachet for Singapore
          61 words
        • Article
          Amex a potential threat to Citibank?
          114 26 ONE observer said it is almost scary watching the coming competition among foreign banks sstheyjostle to get the new licences which will sllow them to get into all manner of financial business in Singapore. "Amex could overnight become as big as Citi," he said.
          114 words
        • Article
          Sexy share flotation
          114 26 GERMAN sex shop Beate Uhae AG has launched a share flotation promising investors it can booet their wealth as much as their libidos. Europe's largest purveyor or erotica, formed in 1946 by one of Germany's first female pilots, said tt will raise up to 80.8 million euroe
          114 words
        • Article
          Fat fee for achieving nothing
          77 26 FUND managerota America are charging I their clients a big fee "for accomplishing absolutely nothing", saidsuper-investor Warren Buffett at the recent shareholders' meeting ofhis company, Berkshire Hathaway He said managers take up to 3 percent annual fee cfaftmd and tbls "fHctionalcoet" is taking U8175 billion
          77 words
      • Article, Illustration
        HOT STOCK
        76 26  -  By Ven Sreenivasan US-dollar-quoted CM Telecom has been on the boil tor the better part of the past month or so on speculation that it is about to clinch a paging licence in China. The counter has broken through its US$O.4O resistance level and is now headed for
        76 words
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      11 15 APL does not intend to be major shipownwer: Shipping Times, Pgl
      11 words
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      Page 15 Advertisements Column 2
      113 15 r > "HANG ON TO YOUR HAT l| AND SMASH YOUR CRYSTAL BALL." r 1 I Tom Peters not your imagination really happening. And it's called The Power of Corporate Kinetics, the first new business model for today's unpredictable world. Learn how leading companies and people everywhere are starting to
      113 words
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      13 16 Career Choice Your weekly recruitment feature The New Paper, every Thursday. fastads I
      13 words
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      Page 16 Advertisements Column 2
      185 16 f abnamro NSW APKNNTMENTS ABN AMRO has announced the following new appointments in its Asia Pacific regional office in Singapore. Mr. Ur* S. Brutsch has joined ABN AMRO as Regional Head Asia Pacific, Private Banking. Mr. Brutsch was formerly Head of Private Banking South East Asia at Credit Suisse Private
      185 words
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      26 17 v 'i^j JkA\ If ///jß^^^^^l 1 /yyjL^^Hltfir^^l^^H Jdflfc W .'^■B^^ggHn yW Ermenegildo Zegna Grand Opening today Ermeneglldo Zegna #01-34, Paragon 290 Orchard Road Paraxon WW www.zegnaermenegrildo.oom
      26 words
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      58 18 Factory In Tuas For Sale Single storey factory annexed to a 3-storey office with a single storey workshop and an incineration plant. i Land Area Approx. 87,413 sq ft i Gross Floor Area Approx. 56,123 sq ft Tenure 30 30 years w.e.f Sept 1990 Call Sole Marketing Agent CB Richard
      58 words
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      Page 18 Advertisements Column 2
      188 18 You have 89 years of successful business experience And it's only your first day. Join one of Asia's fastest growing franchise networks Sountex™ Professional Hearing Care. Sountex is an Asia based company that is wholly owned by Siemens, the world's market leader with 89 years experience in manufacturing fine hearing
      188 words
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      Page 18 Advertisements Column 3
      158 18 —iIIIIIIII I I I I MjWWM ISwvlcml fser»lce«l •Lamda Prints A Duratrans Commercial A ExhMton (direct output from diskette) Enlargement tor Diaptay A Utfled DtgM Injrt Print (19 to 600 dpi) toMptogHD Digital Retouching of Tnm Computer Sides Presentation J° S** to S** Dupicating Lamination Mailing on Kapelne Board, Frimrg
      158 words
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      Page 18 Advertisements Column 4
      20 18 Lost uour a Try finding it at Classification 821 (Found) of The Straits Times Classified. Bay 1L S*IL Ftad IL
      20 words
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      35 19 When the sun sets, the diamonds rise tWf .<*■; 4 JL «Jaeger-leCoultr& For your free copy of fhe Manufacture's Book of Timepieces contact your local retailer or S.A. Desco Singapore Pte Ltd Tel: 222 0322. sadesco@singnet.com.sg
      35 words
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      229 20 HHMM MRMM w HHM' m fIHHHI I Course For A l I Market Share I I Ship Finance Insurance I Special Feature Shipping Times Thursday, 17 June 1999 The publication of the first-ever Ship Finance Insurance special feature is very timely. Currently 5g Singapore is pushing ahead to become an
      229 words
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      Page 20 Advertisements Column 2
      55 20 TheßusinessTimes SINGAPORE CP Q 3 3 n HI 3 O 3 e% a BT 56-page special supplement MAY 27 BT is sold at: SPH Stop Press Kiosks BP Caltex Esso Mobil Shell SPC Carrefour Cold Storage 7 Eleven NTUC Fair Price NTUC Food Fare Shop N Save Tops Borders Selected
      55 words
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      57 25 Citibank Margin Trading Account Trade up to 2.5 tilllGS your share value or withdraw CASH on it. Call 339-7126 now. the citi never sleeps I; Imilli I s .1 I I slilii I ii "J' I<> N <> I I 111 I,| u ,1.1(1 2 1 I I 1.1 I
      57 words
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      660 26 Are you making money off the market? Let DBS Investor Online help you pick hot stocks! C 438-1188 today. ©DKSBANK NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298 THE COMPANIES ACT, CHAPTER 90 I BMT ENTERPRISES PTE LTD NOTICE IS HEREBY GIVEN that panuant to Section 296(1)
      660 words
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      46 26 Lost your Try finding it at Classification 821 (Found) of The Straits Times Classified. CATS. Bay It Sdh. Find It Classified First. Looking for a holiday destination? Or simply getting away from it all Top of your itinerary: Check The Straits Times Classified First. kfLMLMI j
      46 words
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  • SHIPPING TIMES
    • Article
      Lock icon FREIGHT MARKET
      116 27 Bridge News, Reuters TANKERSc Charterers are still showing interest in taking very large crude carriers (VLCCs) in the west with talk of a few more vessels fixed. Brokers said this will continue to suppress Suezmax rates and doubt there will be any real recovery for these sizes in
      Bridge News,; Reuters  -  116 words
    • Article
      MARITIME STOCKS
      236 27 tM ■ft* a »n CWTWMribuWon 095 -005 214 Choan Hup 1-03 widi 409 C**co fcwprtnwit —0.99 unch 92 Fntaht Unto 0J3 -OOI 1001*0 MHaMnp* 0A2 -OOI 199 Hat Sun Hup 0.71 -002 *44 IMC IMJfcyHK 540 unch 0 Jurona'sNlpylr* rJSo TlO 103 KappwCarp 4.90 -0.15 WW KappPirtU 4—
      236 words
    • Article, Illustration
      Lock icon APL does not intend to be major shipowner
      532 27  -  Company's long-term strategy is to become an integrated logistics operator By Marcus Hand {SINGAPORE] Neptune Orient Lines' container shipping arm APL does not see its future as being that of a major shipowner, and is looking at selling and leasing back its
      FILE PHOTO  -  532 words
    • PORT Shots
      • Article
        Lock icon Japan shipbuilders get 15 export orders
        50 27 AFX-Asta [TOKYO} Shipbuilders received export orders for 15 vessels in April, up from 11 a year earlier, the Japan Ship Exporters Association said. The contracts comprised 13 bulk carriers totalling 384,553 tonnes, one oil tanker at 28^546tonnes and one freighter weighing 4,362 tonnes. AFX-Asta
        AFX-Asta  -  50 words
      • Article
        Lock icon One survivor from capsized ship found
        90 27 AFP survivor and 10 bodies from a cargo ship which capsized off Sulawesi province. The other 17 people on the vessel are still missing. The KM Pangibu was carrying 3,000 tons of cement from Pangkep to Ternate in North Maluku when it capsized on
        AFP  -  90 words
      • Article
        Lock icon Panama Canal lowers booking system
        89 27 Bridge News {PANAMA CITY] The Panama Canal downgraded its booking system to Condition Two as congestion to use the canal eased. It was lowered from Condition Three in place since May 10, baaed on the projected number of vessels awaiting Canal transit the Panama Canal
        Bridge News  -  89 words
    • Article
      Lock icon Kandla port gets cyclone warning
      197 27 Reuters [AHMEDABAD, India] India's Meteorological department has issued a cyclone warning to the country's busiest port of Kandla and other smaller ports in the vicinity. "We have moved out all the vessels into the high seas, all equipment has been secured and port workers have
      Reuters  -  197 words
    • Article
      Will Asian yards win cruiseship orders?
      747 27  -  NEWBUILDS By: David Hughes LAST week's Cruise and Ferry conference and exhibition at London was awash with rumours about cruiseship newbuildings. Sifting rumour from reality was no easy task. Nevertheless, it does look likely that two Asian shipbuilders are at last about to break
      747 words
    • Article
      Batam ferry passengers rescued
      136 27 [SINGAPORE] All 51 passengers onboard a ferry from Batam to Singapore were rescued after it suffered engine failure on Tuesday evening. The ferry Auto Batam 11, owned by Auto Batam Ferries and Tours, reported a technical fault with one of its engines at about 10.15 pm.
      136 words
    • Article, Illustration
      Lock icon Just follow the rules
      1290 28  -  QUALITY AMD SAFETY The answer to safer ship operation is not just more regulations but to ensure that they are being obeyed By' Tor-Christian Mathiesen The writer is managing director and regional manager SEAsia of Det Norske Veritas, Singapore SOCIETY'S concern over shipping safety has placed
      FILE PHOTO  -  1,290 words
    • Article
      SHIPPING SCHEDULES INDEX
      201 28 PACE ECU Line 6 ACL 6 ECl 4 ANL 3 Evergre«n 6 Accord S FoongSun 8 AppensWp s C Link 4 Austral 0 Gemartrans 6 Balajl Shpq 4 Hangli 7 BSA 7 Hanjin 3 B'tanq Mas 6 Heunq-A 4 CCNI 7 Hyundai 7 CMA 8 ICFS 3
      201 words
    • Article
      SHIPPING GUIDE
      17272 35 THEBUSINESSTIMES EXPORT ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Desfn mm Nam* Number Number SIN Oetfn Name Name Number Number 03/06 26/06 Evergreen E. GENTRY 0267-077* 65-192IH1 To ABU DHABI (AUH) 2004 U. A. Emlrat.s To BURNIE (BUR) 2061 Austr.ll. 31/05 0(/0t
      17,272 words
    • SHIPS IN PORT
      • Article
        CONVENTIONAL WHARVES
        478 39 Voy Mo Bftt! Arrtwl Departure hifc PMImq Wtmrm Batam Indafi 819)03 PWIA alongside 19.05/1200 Batam Speed6 8318* PWIA alongside 19.05/1400 Batamindo 2 20T1S PW8 alongside 19.05/2000 Batamindo 3 3746S PW8 alongside 19.05/2000 Cttri 8atam2 3704A PWIA alongside 19.05/1330 Hendrison 0503A9 PW3 alongside 19.05/2300 lrrtln 6 286 S* PW7
        478 words
      • Article
        CONTAINER SCHEDULES
        1650 39 RECEIVING OF EXPORT FCl CONTAINERS AND LCI CARGO Booklng/Manc* Rstls Voy No Etb/Btr Pwlod Frwii To Fro* Ac. ttagnoti OKK mno WMO WW a/M0 WTOO »/0*59 wwoo 5SJS. /045 W0900 WDTOO 19/1159 19/woo W1200 19/1459 witoo zvotoo ivsoo ww wmo whoo w»s9 wmo W1700 W0*59 19/0100 a wttoo
        1,650 words
      • Article
        GLOBAL HOLIDAYS
        169 39 May 24 Germany: Whit Monday. France: Whit Monday. Austria: Whit Monday. Belgium: Whit Monday. Canada: Victoria Day. Denmark: Whit Monday. lU]r» Indonesia: Waisak Day. May 31 Greece: Orthodox Pentecost Holiday. Brunei: Anniversary of Royal Brunei Malay Regiment. Job 3 Austria: Corpus Christi. Jon 5 Denmark: Constitution Day. Jnn
        169 words
      • Article
        COCKETT BUNKER MARKET REPORT
        736 39 THIS report, complied by Cockett Marine Oil Ltd, shows price ranges in US dollars instead of single prices for a more comprehensive description of the market. Prices shown are based on averagesized stem. Market movements are indicated. The Cockett Bunker Price Index change and the individual
        736 words
      • Article
        VERITAS BUNKER QUALITY REPORT
        337 39 *»0 T ZSL Art AJ-W S«—t £25 "V V "J 1 °°J «N/N 380 Aw 987.5 0.4 13.5 0.07 36 0.02 M/lrj %«/V SUA «H/I. pan J* 380 "to* 9917 U 19.5 0.09 58 0.04 E2L* *12 %M/M No above 635 1 0 4 0 0
        337 words
    • AIR & LAND TRANSPORT NEWS
      • Article, Illustration
        Lock icon PAL chairman secures US$200m equity needed
        307 40 Fresh equity raised will enable airline to continue flying finance secretary Reuters [MANILA] Troubled flag carrier Philippine Airline Inc's (PAL) search for fresh capital is nearly over as chairman Lucio Tan has secured commitments for the entire US$2OO million (Ss34o million) needed, a government
        Reuters; FILE PHOTO  -  307 words
      • Article
        Lock icon Toyota, VW in talks to share car parts
        275 40 Bloomberg [TOKYO] Toyota Motor Corp and Volkswagen AG, the world's third and fourth largest car makers, are discussing sharing car parts, the Nihon Keizai newspaper said, citing unidentified people involved in the negotiations. Toyota, Japan's top car maker, and Volkswagen, Europe's biggest
        Bloomberg  -  275 words
      • Article, Illustration
        Lock icon Drop in Asian demand for planes seen bottoming out
        222 40 Reuters [NEW YORK] Aircraft manufacturer Boeing chairman Phil Condit said that the drop in demand in Asia for jet airliners was unlikely to go further, the Wall Street Journal reported. The paper said executives at Boeing and European rival Airbus Industrie
        Reuters  -  222 words
      • Article
        Lock icon US Airways to stow growth of its MetroJet discount carrier
        490 40 Heavy demand for air travel causing shortage of planes, trained pilots Bloomberg [WASHINGTON] US Airways Group Inc, seeking to contend with a shortage of airplanes and trained pilots caused by heavy demand for air travel, will slow the growth of
        Bloomberg  -  490 words
      • Article
        Lock icon US to coordinate reviews on safety of code-sharing
        251 40 Reuters [WASHINGTON] Federal agencies plan to coordinate their safety oversight of foreign airlines operating in partnership with US carriers, officials familiar with the plan said. A task force was being established that would bring together on-going efforts at the Department of Defence,
        Reuters  -  251 words
      • Article
        Lock icon United watching closely anti-trust suit against American Air
        273 40 Reuters [DENVER] United Airlines, J the world's largest carrier, is closely monitoring an antitrust lawsuit the US Justice Department has filed against American Airlines, but is not aware of any formal probe of its own practices, chairman Gerald Greenwald said. Mr Greenwald
        Reuters  -  273 words
      • Article
        AIRCRAFT ARRIVALS AND DEPARTURES
        1701 40 Cm FLIGHT CTA FU6HT ETC S0325 1450 LH4373 2355 AdoloMt 8A7381 1930 BA7382 2055 LH77S >605 $026 2355 Of81 TOO OF82 2055 ««78 >605 LH779 2359 AH8229 2230 S***** 1605 ****** 2359 LH6380 2230 M7306 WIS S***** 2359 S0229 2230 0f> WB kmittritm K1837 1455 6A972
        1,701 words
      • Article, Illustration
        Lock icon All set for the Millennium
        74 40 [LONDON] The final section of the new Millennium Pier is lifted into place on the eastern edge of the Greenwich Peninsula, where it will provide a vital transport link to the Dome. The pier, at 84 metres the longest on the River Thames, is due
        AFP  -  74 words
      • Article
        Lock icon American, flight attendants reach tentative deal
        176 40 Bloomberg [FORT WORTH, Texas] AMR Corp's American Airlines, the No 2 US carrier, and its flight attendants union reached a tentative agreement for a new contract, granting higher pay, improved retirement benefits and more flexible scheduling. American and the Association of Professional Flight Attendants,
        Bloomberg  -  176 words
  • Page 27 Advertisements
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      58 27 Quality and safety: Just follow the rales The answer to safer ship operation is to ensure that rules are being obeyed. Page 2 Port of Tanjung Location! Location! Location! On The Along Straits of Malacca, The Malaysia-Singapore n WM9 Pelepas RELIABLE EFFICIENT ADVANCED Pelabuhan Tanjung Jalan Perkasa Taman Johor Johor
      58 words
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      Page 27 Advertisements Column 2
      18 27 PAL chairman secures USs2oom equity needed Fresh equity raised will enable airline to continue flying: finance secretary. BaokPifß
      18 words
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      Page 28 Advertisements Column 1
      186 28 Keep in Touch When you need answers fast: Whatever, wherever and whenever you ship between Asia, North America and Europe, you're always in touch with NYK Real-Time Shipping Information Y (global home page) www.nykline.com (for USA rates) www.na.nykline.com SENLIM AGENCIES PTE. LTD. 133, New Bridga Road, *0806, CNnatcMm Point Spore
      186 words
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      Page 28 Advertisements Column 2
      695 28 Unesft services represented u*. *j Re try Singapore Forwarders VtWpW Accredited Shipping Agents. CIAU Association xfiiy Singapore Shipprtg Association SEMBAWANO KIMTRANS (S) PTE LTD coHvomouu somas .S. SINGAPORE to BATAM, BINTAN, KARIMUN SINGAPORE to BANGKAISUND [7jl SINGAPORE to QIfGON I*TtJ SAMARINDA/BAUKRM*N/BANJARMASIN TO SINGAPORE MANILA/SUBIC BAY/LUZON TO SINGAPORE A P.K. Chiom
      695 words
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      1185 29 E3^iyyj9B9 SAX SERVICE (DIRECT) Ivesa voy swra um oak pal hou o« cot mb» ai nyc APIGAMCT 01 IE 19/05 03/06 00/06 00/06 00/06 00/06 09/06 09/06 10/06 10/06 aw gin out 26/05 10/06 15/06 is/m is/06 is/06 lt/ot u/06 i;/06 17/06 AftTIMOUOBI 02St 02/06 17/06 22/06 22/06 22/06 22/06
      1,185 words
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      Page 29 Advertisements Column 2
      2538 29 OHANJIN SHIPPING Ilk Pi iNsMytUa Sates *****30 HJUUM SHIPPING (S) PTE LTD a» IOWIWC *****3S 737 SALES *****74 731 DOCUN«T *****71 774 OPBATORS *****5R251 MAM UK *****55 FAI *****60 aHO **********0 M TO NW USA CANADA USA CANADA* r*vsi/vor lIM I i*haul/voy su mi mi Prox oi isp m dtt
      2,538 words
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      1613 30 DSR SENATOR LINES TO UK/CONTINENT TO MEDrTERRANEANCIANADA w»a voy TiT" iEH era amb haai owv a« «aa wrr sm an tn wis wx wra thadhmpu w<»? 14as km mm mm mm mm choyangcmamq wma mm am bm mm mm mm PUOOHG SENATOR WNS23 lIM MM MM 07 M MM MM
      1,613 words
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      Page 30 Advertisements Column 2
      917 30 IUI MAC-NELS S PORE M'SIA Carrtor MM CONTR LINES, MC P. GUDANG (07) *****26 I J OR MO( **********1 M SIBU: (004) *****9 MAMLA: (632) *****24 PENANG: (04) *****36 BANGKOK: (662) *****57 SURABAYA: (31)*****0 P. KELANG: (03) *****77 JKT (21) *****07 MDH: (61) *****3 KUCHWQ (062) *****1-3 BOMBAY MADRAS MV
      917 words
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      Page 30 Advertisements Column 3
      470 30 LINE 8r Til! ltM4S< IMb MMin MUARA LABUAN 1 vcsa voy m> ra vnsa vor ire m SPOB MUAAA SPOtE IM JPIOSrei VIIE/99 22/05 25/05 J PtOSPB VUI/W 22/05 14/05 caaaaajok vm/99 20/05 11/05 ouuuujnr yih/w 21/05 01/04 J PtOSPB VIB/W 01/06 04/06 J PtOSPB VI3E/99 01/06 05/06 CA*AKA*332VI*/99 07/06
      470 words
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      1397 31 VESSEL VOY I KHH I HKQ I SIH I PKO I PQC I DXB PMM IBA I BIK IRANSHAHRYAR PCL-5106 09/06 11/06 15/06 16/06 26/06 26/06 27/06 29/06 01/07 IRAN TABATABAEI PCL-6103 12/06 14/06 16/06 19/06 26/06 29/06 30/06 01/06 03/06 IRAN LORE STAN PCL-6102 19/06 21/06 26/06 26/06 04/06
      1,397 words
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      Page 31 Advertisements Column 2
      1763 31 Dirwt Calls to Kobe tapir 1 Tokyo Dwy^l I 'Sffg- way til mI wo f**: mrtn ouiwudo/u aiowh jOMoTofna! ""l »»miizS UllS/UCS 4M5157/M MWUD KPT (D/0| *****85 COSTAR AGENCIES (Ml SM MB 1 *20$*?$ TIL 02-07-35 ***** FAX- 02-07-35M170 I 27mb/mmi Im/bs i J b w m m m me
      1,763 words
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      Page 31 Advertisements Column 3
      493 31 CHINA SHIPPING (GROUP) COMPANY 1 H"S CHINA SHIPPING CONTAINER LINES CO., LTD. 1 FAR EAST EUROPE FULL CONTAINER EXPRESS SERVICE WESTBOUND (FIXED WEEKLY SERVICES) VSt VOY TJN CHN SHA HMO WOK KPM HBO HX PAN CRYSTAL 9901 06 Moy IQMoy 12Moy 16 May 20 Moy 09Jun lOJun 12 Jon TRADE
      493 words
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      Page 31 Advertisements Column 4
      29 31 ShiphngTtmes °"BUSENESSCENTRE Find out more about advertising that delivers your business facts through the fax. Your 24-hour round-the-clock instant info access centre to shipping services and products CALL: 740-2044
      29 words
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      Page 32 Advertisements Column 1
      1339 32 EOBOPE/UK/SCAIIDtNAVIA/RNLAMD/BUSSIA SGP ROM ANW HBG THP ZEE LHV LHV THP BOM ANW MBfi PKL S6P E DECENT RW-BM ***** 10/06 IB*6 12/06 14/06 15*6 16/06 E REFINE RE 020 20/04 01/06 30*4 02*5 04*5 23*5 24*5 E GAINING RW4N 27*5 11*6 20*6 22/06 I REACH RE-023 06*5 01*6 07/06 00*5
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      Page 32 Advertisements Column 2
      1064 32 ADVANCE CONTAINER LINES (PTE) LTD t-l TEL: *****21, FAX *****19, TELEX :RS ***** ACLPL rtVfa FOR BOOKINGS PUASC CALL: *****22 SALES A MARKETING *****21-20 OPERATIONS: *****6 a *****06 CR NO. **********06 UWQMK-T--1-R muaffA-gIWWMi VKSB VOY JKT KOIA HARTA Ifttf/ICH) HTAO29 20/5 Thu 23/5 Sun KOTA 1) MJUIS3 20/5 TKi 23/5
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      Page 32 Advertisements Column 3
      555 32 NANTAI LINE FULLY CONTAINERISED SERVICE TO MAURITIUS SOUTH AFRICA vessel vot sin plu pur m cw rcb jWgngg »034S 73/05 31/DS 04/0* 07/0* Mt 11/0* 601 DEN OKAGOW VOI7S 31/DS 09/0* 13/06 lt/D* 17/0* WAMTAi (KISN V.Q3SS 10/0* "Ij/pT 22/0* ls/o*~ 27/0* "w/oT HAMUIMAGON V.014S 20/0* W/0* 03/07 o*/07 07/07
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  • Page 33 Advertisements
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      Page 33 Advertisements Column 1
      467 33 BSfl ii. l 9iv^ffsV"vsnnvTS(n^^BF M MYANMA wBBk FIVE STAR LINE (Myo«war National Liat) Loading for Yango* (Rangeot) VESSEL VOY SW Ptt PEN PGU I AGO VIO9W SLD PMYA 163W SLD MALAYSIA AGENTS: BOUSTEAD SHIPPING AGENCIES KUL TU (03)*****00 PKL: Til (03)*****01 PEN: TU (04)*****07 PGU: TEL (07)*****71/4 BANK LINE (A
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      Page 33 Advertisements Column 2
      1221 33 HMNEHYUNDAI MERCHANT MARINE CO., LTD. VBSa SOU|m|«TM|MIT|HMI|KVIFa| I VESSEL VOY|SOUIiB«|RT»[NCT|HARUMV| FE "ST £?»< 11/04 "Z O4 76/04 01/05 20/04 70/W 10/05 009,1 *'/05 1/06 17/06 06/06 08/06 HVFBSAL 3171 a/04 05/04 01/05 04/05 72/05 OTOjRMOOORE 3IOW 27/05 14/0* 19/06 16/06 17/06 HOSE S26C 07/05 00/05 02/05 04/05 26/05 APIKARL 009W
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      Page 33 Advertisements Column 3
      1059 33 x Jpeaakzed outotomm Gtsfflo](S Wilhelmsen Lines TO NOKTH AND UTIN AMIRKA "RORO HEAVYUFT SERVKI' VESSEL VQY RAMP HBBW "TS™ LAX Qtl SAV ML Off NYC MEW MOI ZT Jill /os 25/06 M/ 07 #7 7 w^Tf7^TW""u76rii76rw«r" TALAIOT TMS 6.3 M 10/04 04/07 15/07 11/07 20/07 22/07 23/07 25/07 21/07 30/07
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      Page 34 Advertisements Column 1
      807 34 KANSKO*/ MAP TA PHUT/ LAMM CHA»ANQ| JAKARTA/PAN4AMO VESSEL VOY SIN BKK MTP LCH VESSEL VOY SIN JKT PJN KOTA HABTA HTAO2B In Pt 23/05 QURU BHUM ~***** 21/06 23/06~ YAWTRA BHUM 291N In Pt 23/05 22/06 ANRO JAYAKARTA* 068 22/06 28/06 MATHU BHUM 415N 22/05 26/05 2S/05 AKA BHUM 344S
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      Page 34 Advertisements Column 2
      416 34 INDONESIA NATIONAL LINE TO AUBTRALIA I RJU. COMPUNBI aBWICg ffl VCTI w »|l|W|STP|»|hm|Ml« PtOMPMBMM Ig IVISB/M M/M W/» 10/8* H/M will TJ/K W/M W/M 11** 14/H m.ncm p/otw/ot 13/0* ii/m m/m vm mmmtu lia jio/ot iv»J ln/i*|H**|a**|»i/*7|»4/*7| FEEDER SERVICE TO INDONESIA j va vot sraf suuun ilmmmm smmuuk HHMWCJW4I Mt
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      Page 34 Advertisements Column 3
      661 34 iSIu r.. VtJ-E DE SHAWQHAi 14A» 17/08 18X08 2006 "SS _jy» tw» aw aw 2H» VIIXE 17W 22W 27/D6 28W6 li¥~ (gW7 VM£D6MMOO4 V32W IMW 2M6 06AJ7 07/07 00)07 IQ/07 n 11 ?YTI ■M CWDIWA QOTHBMUROI 4HD Jn« MuJ) E&— CMB MUk BCN FOS QOA WAP 32/06 2MB MW OMQ6
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  • Page 35 Advertisements
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      Page 35 Advertisements Column 1
      51 35 I INTRODUCING OUR NEW FAR EAST USA TRANSPACIFIC EUROPE SERVICE Turn To Pg 6 FULL CONTAINER (EVERY MON/WED/FRI) I EXPRESS SERVICE MSC A S encies Ltd Turn To Pg 5 For Service From PASIR GUDANG/ SINGAPORE L MIDDLE EAST/VIETNAM China Shipping (S) Agencies Pte Ltd 6 JH CONTAINER LINE Pg
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      Page 37 Advertisements Column 1
      48 37 ■Hll STE§ffcDial74o-6000 OR G€ITIdnG —MkJ (Retrieve more schedules!) sr*| Press"!" JCV Select the port and key in STBbl the four digit code eg: To New York (NYQ 2275 Key in your fax number I your phone number Another Innovative service offered by The dOCUment Will be Shipping Times
      48 words
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  • Page 39 Miscellaneous
    • Miscellaneous
      Page 39 Miscellaneous Column 1
      107 39 LEGEND R Thunderstorm Temperature »q V Shower Weother Wmd <*rection wrth speed in knots e Rom Cloudy Sky Wove height Serfoce -WKh ore mdkoted by orrowt «y *Mt the wmd mtnon i_a»,o« m < mgl w^„50k^n Wove hetgfiti in uniti of 0.5 «*t,. 01 0 5 metre, 02 I 0
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