The Business Times, 9 October 1999
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1999-10-09
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The Business Times
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Title Section14 1999-10-09 1 THE BUSINESS TIMES MITA(P) 046/12/98 Qs€ SINGAPORE Internet: http://business-times.asial .com.sg/ SATURDAY, OCTOBER 9, 199914 words
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Article63 1999-10-09 1 □m *****9 (-5.48) iIM U ***** (+1.29) nammuiEs mm mat (-2.40) SnCHAUETDINCEB Friday Hi in IT ELSE COUP ***** *9Al NIKKEI J8.0S2.18 -7417 HANGSENO 11,***** -1.78 8ET INDEX mm -4JB JAKARTA COMP —J8&24 >181 MANILA COMP, 2,0(183 -7.81 TAIPEI WPI 7JMSJ6 4KB SEOUL COMP 819.41 -11.74 gUA CHINA63 words
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Article74 1999-10-09 1 fQBEX KATES list ss UBS L080 £(US$/S$per£) 1-648 177# EUR0(U84/S$perE) 1.068 17% DM 1JB1 M18 YEN 107,5 1-664* RM 1860 0.442 HK$ 7.768 0116 BAHT 40.08 0.042 RUPIAB 73» 0.021 SS to W units PUKE KATES SINGAPORE* 5.80 KUALA LUMPUR 7 3& JAKARTA #.M BANGKOK 10.90 MANILA 11.00 ■ONGKONG74 words
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Article, Illustration1260 1999-10-09 1 Kalpana Rashiwala - COLLECTIVE r^l Amended role to facilitate collective sales comes into force on Monday By Kalpana Rashiwala [SINGAPORE] The amended law allowing en bloc property sales to go through without unanimous owner consent will come into force on Monday and analysts saidARTHUR LEE - 1,260 words
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Article, Illustration1332 1999-10-09 1 Tan Su Yen - The 1998 Businessman of the Year, NL Wong of Venture Manufacturing, talks to Tan Su Ten about his approach to hiring and developing his Venture people, and building up a cohesive international team. Tan Su Yen WONG Ngit Liong, the 1998 Businessman of1,332 words
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340 1999-10-09 1 Firms shed 8,000 jobs, jobless rate holds steady at AM Bloomberg, Reuters [WASHINGTON] US job growth stalled last month and wages posted the sharpest gain in 16 years, suggesting that the central bank could raise interest rates next month toBloomberg,; Reuters - 340 words
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Page 1 Advertisements
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Advertisement153 1999-10-09 1 msii>u BT Comment Hock Lock Siew: Give the retail player due respect. P|p 4 Top stories Most dangerous part of financial crisis lies ahead: John Olds. P*2 Silkßoute boss Wong Toon King's road to riches. EverWoom to mushroom 10 outlets. PW* H MI t Care-free, stress-free millennium getaways. Pg9 M153 words
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Advertisement61 1999-10-09 1 It smells If we had been smart we would have tied up these guys for i long long time when we were kings off the world rather than excrement.^ Julian Robertson, chief of embattled hedge fund Tiger Management He has decided to change the rules to make it harder for61 words
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ON THE grapevine
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Article198 1999-10-09 2 THE new managing director for corporate relations at DBS Bank showed up in the flesh yesterday. Charles call me "Chuck" Newton plonked himself down at a table full of journalists during a luncheon talk organised by the Asia Pacific Loan Market Association where his boss, John Olds,198 words
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Article99 1999-10-09 2 CITIBANK'S Ready Credit TV ad depicts a loving husband who took out a loan from the bank to pay for a tree to be moved to his house because he knew his wife would love it. Taking out a loan to transplant a tree may seem somewhat99 words
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Article180 1999-10-09 2 INTEL Corp still dominates the microprocessor market but smaller players are snapping at the chip giant's heels. Most notably, US firm AMD makes clones that perform as well or better than some of Intel's microprocessors the "brains" of personal computers—at lower prices. Now AMD has taken180 words
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Article97 1999-10-09 2 EDDIE Toh, our correspondent in Kuala Lumpur, though better known for his exposes on the political and corporate goings-on in Peninsular Malaysia, might have found a new calling. Eddie contributed a wine-and-dine piece to the Motoring page two weeks ago. He attached his e-mail address97 words
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Article, Illustration605 1999-10-09 2 Catherine Ong - Region's forex losses of truly unprecedented size, says DBS chief By Catherine Ong [SINGAPORE] The most dangerous part of Asia's financial crisis lies ahead, John Olds, vice-chairman and chief executive of DBS Bank, warned yesterday. He noted that with currency605 words
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835 1999-10-09 2 Kalpana Rashiwala - By] Kalpana Rashiwala [SINGAPORE] Beware the collective sales bug that is spreading on the island following new legislation that facilitates such sales without owners' unanimous consent, warn some property agents. "It is very worrying because it can get out of control,"835 words
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SBA launch
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Article482 1999-10-09 3 Tan Su Yen - Good earnings growth and a strong balance sheet, especially impressive cash reserves of $278 million, are reasons analysts like the firm By Tan Su Yen [SINGAPORE] WHEN Venture Manufacturing unveiled a sterling set of interim results recently, almost 100 analysts and press members converged on the factory482 words
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Page 3 Advertisements
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Advertisement273 1999-10-09 3 IT'S TIME TO HONOUR THE BEST IN THE BUSINESS ill i 1 I f A i f 1.1 .1 1 vHi 1 N I I m if is Ml I 4> J -I ftivia? 4 A Wmi m Big In 1985, The Business Times and DHL ||fl Ijl|y BUSINESSMAN OF273 words
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SINGAPORE companies
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519 1999-10-09 4 Teh Hooi Ling - PGRD nnit takes USs27m stake in Silkßoute Ventures, which invests in Internet start-ups By 1 Teh Hooi Ling LOCAL e-commerce group SilkRoute Holdings Pte Ltd, in which Richard Li's CyberWorksVentures (CWV) took a strategic 25 per519 words
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Article, Illustration340 1999-10-09 4 AFX-Asia [SINGAPORE] UOB Asset Management said it has launched a fund that will invest in shares of top 50 Asian companies which will be chosen based on market leadership and strong business franchise. UOB Asset Management managing director Daniel Chan said theAFX-Asia - 340 words
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Article, Illustration564 1999-10-09 4 Teh Hooi Ling - SilkRoute boss quintessential technopreneur Fencing champion already worth USs4om-USssom By' Teh Hooi Ling [SINGAPORE] Wong Toon Kkig, the 33-year-old who set up Silkßoute Ventures five years ago, has today an estimated net worth of US$4O million to US$5O million (Ss6B million to SsBs million). But TK, as he is knownSIEW YAW HOONG - 564 words
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585 1999-10-09 4 Carol Eng - Many parties keen to join syndicate for the deal, says bank By i Carol Eng DBS Bank, a lead manager for Raffles Holdings' (RH) planned initial public offer, yesterday suggested that jealousy was behind the rumours of disagreements between RH and its585 words
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Article, Illustration415 1999-10-09 4 Christopher Tan - By i Christopher Tan THE journey to a proposed union between SMRT and Tibs has hit a gradient as both sides debate over each other's "value", but a yearend completion is still in sight, insiders tell BT. Market watchers, however, sniff a doneSource: Bloomberg - 415 words
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613 1999-10-09 4 r sivanithy - SmUlocksiew r sivanithy Throughout this year, one of the features that has stood out in local stockmarket trading is just how important the retail investor has become. During the peak months from April to June, for instance, it was small-cap stocks and retail punting613 words
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Article200 1999-10-09 4 COMPUTER monitor maker TPV Holdings made a lacklustre main board debut yesterday, closing at HK$l.l9, or about one per cent below its initial public offer price of HK51.2019. Despite starting on a promising note surging to an intra-day high of HK$l.3B within the first200 words
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670 1999-10-09 7 Siow Li Sen - Deal made near bottom of economic cycle; buying it with clean balance sheet By\ Siow Li Sen THE risk to United Overseas Bank (UOB) of buying a 75 per cent stake in Radanasin Bank of Thailand is low not only because it is670 words
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Article, Illustration56 1999-10-09 7 [KUALA LUMPUR] Hollywood's star Jean Claude Van Damme showing his skills to a group of children at the opening of the new Planet Hollywood outlet in Kuala Lumpur on Thursday. Planet Hollywood Kuala Lumpur is the 10th located in Asia designed to capture the excitement and glamour ofAFP - 56 words
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356 1999-10-09 7 Ven Sreenivasan - By' Ven Sreenivasan ASSET trader Simon Cheong has bought another 28.4 per cent stake in Jack Chia-MPH, raising his stake to 38.7 per cent and triggering a general offer for the remaining 61.3 per cent of the shares he does not356 words
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COMPANY Briefs
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Article9 1999-10-09 7 HoMinfi ssld ißl|fllBKF6Slon ncB4vidiBßnmWNBEß6 Ufltftsg* ieeBsject®d to9 words
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Article21 1999-10-09 7 WlnpuHrt onOcMthet fHappnri AfrtnH UwiM get US$lOB mlllloolotnlkdSty to flneix*tl» purchase of enefw Boeing alreriftflporo Hmh-rtat phnowu|iHji— ii21 words
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Page 5 Advertisements
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Advertisement340 1999-10-09 5 44 DGw y° u can enjoy star auality wfj \ow° #T 1- jg,)s"-' I ™hßt >■■■**- I The OSIM Air Chair Superior, the next evolution in massage chairs, can now be yours for twelve Ef j|fP easy payments of $278 using our 0% interest hire purchase scheme. It's the easy340 words
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SINGAPORE markets
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Article, Illustration573 1999-10-09 6 r. sivanithy - Ui comment STOCKS r.sivanithy AN unconvincing display by US equities on Thursday and similarly uninspiring sessions in Japan and Hongkong yesterday meant that the local stock market closed the week on a quiet and slightly weak note. Although volume dipped below573 words
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Article, Illustration166 1999-10-09 6 R Sivanithy - WARRANT WATCH By\ R Sivanithy HAW Par's shares and warrants have been creeping up recently, so maybe it's time to revisit the warrants' numbers. For readers who remember, the last time this instrument was featured here, the conclusion was that the166 words
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Article, Illustration291 1999-10-09 6 Wong Wei Kong - HOT STOCK -By Wong Wei Kong OCBC Bank shares closed slightly higher yesterday on their first day of trading as a single entity following the bank's move to merge its Foreign and Local tranches. The stock ended at $12.80, up 13.3 cents or 1.06 per291 words
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Article97 1999-10-09 6 Saturday, Oct 9 ♦9am. US Under Secretary of Defense calls- on DPM Tony Tan Helnskan Open until Oct J7 ffipP awmwmHy anilllliafl Kl cial action tffl year 2000b flKtaa* current challenges, emctptt trends of the economy TTdUnl nialii Las T«0mi PlanetOO Higb-Ve-locity Business Summit Speakers include Microsoft97 words
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449 1999-10-09 6 Reuters ASIAN currencies were weak yesterday but off their worst in late trade, with the US dollar stuck between 107 and 108 yen ahead of US payrolls data for September, due last night. The jobs report is likely to be a majorReuters - 449 words
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Article386 1999-10-09 6 vomw» TPVU810 *****.000 PanpacMadaCom 5c 13,030,000 AaiaFoodftPiQpU8$ 10,707,000 GoUanAgrlUSIOc *****,000 CMTaiaoomHK7Sc *****.000 QESMUdaOc 10,060,000 •Qanttng W 9,470,000 OatapriM5c 7,906,000 IOw 5c 7.410.000 TanChongMBOe 7,216,000 SA 47,430,844 068(kp 24,004,796 StngTat 16c 21,498,892 OdC 20,783,150 8FH 20,191,106 TPV U81c *****,040 TIBS H 50c 500 *****,930 G£8MUd20c *****,630 OUB 15,730,660 PanpaoMsdaComSe 13£20£70 ttoahs386 words
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Advertisement7 1999-10-09 6 WttBBSStSKMKKtNmKt/tKsß^ i PLANNED I OFFICE 1 fc/M7 words
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Advertisement14 1999-10-09 6 Want to talk investments with your peers 7 cir-:./ "crum 3t "http://iol.dbs. comsg gjoi^sßANK14 words
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Article1886 1999-10-09 7 Nat am m dm t MM. aMt ML «L Oota TV LV TV Lt UWemNWl h*M I UWJ SJTSL OM til mm| Jfcttftr HMfc I mm *tjNb AJft mSSSSmlmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmSSmmaMjSSSffBI/h ftp J® |l fhlST 4»79l flUMr 2S5t *»*HKn SapM OAM OOTB OM OK U»> N»0 I UU1,886 words
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SINGAPORE news
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627 1999-10-09 8 Anna Teo - I T d on the economy It has been chanting ont papers, analyses on economic issnes By. Anna Teo AS Singapore's central bank, the Monetary Authority of Singapore (MAS) has the job of steering monetary and exchange rate policy, among other627 words
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Article, Illustration515 1999-10-09 8 Andrea Tan - nTiexclusive Thomson Plaza store is S'pore's first mushroom shop By Andrea Tan EVERBLOOM Mushroom will officially open Singapore's first mushroom shop today, with a target of 10 out- lets by the middle of next year. "This is the first mushroom shop in Singapore andSIEW YAW HOONG - 515 words
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227 1999-10-09 8 HOTEL Properties will relaunch todaythe 20 remaining units in its freehold Pare Stevens eondo at Stevens Drive at an average price of $1,400 to $1,450 psf after discount. "We have not fixed the precise price yet," said HPL group executive director227 words
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205 1999-10-09 8 A FREEHOLD residential site in the Tanjong Rhu area has come up for tender and sources say the property is likely to fetch $17.5 million. The 15,125 sq ft site, on which sits a single-sto-rey detached house, has a plot ratio of 2.1 and205 words
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Article, Illustration248 1999-10-09 8 i :i the dock CONTRACTOR and ex-Nomi-nated Member of Parliament (NMP) Chuang Shaw Peng was slapped with three charges of bribery yesterday. Chuang, 47, was accused of paying one Pan Say Kew for having arranged someone (a Prem s/o Chandiram) to assume criminal liability on248 words
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Article, Illustration370 1999-10-09 8 Christopher Tan - I 'I the dock Byi Christopher Tan MOTOR trader David Koh of Auto Asia appeared in court yesterday again to face 15 additional charges, bringing the total to 46. The fresh charges pertained to Koh abetting Geoffrey Woon in early-May then his370 words
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733 1999-10-09 9 Audrey Tan - MTI outlines plans for Republic to compete on basis of innovation By- Audrey Tan SINGAPORE will aim to become an advanced and competitive knowledge-based economy within the next decade, the Ministry of Trade and Industry (MTI) said. In its addenda733 words
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Article, Illustration869 1999-10-09 9 Tan Su Yen - MILLENNIUM GETAWAYS By' Tan Su Yen IT'S been said many times over—this New Year will be an experience not to be repeated for another thousand years. The celebrations are the perfect excuse to pull out all the stops and indulge in the fantasy trip869 words
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69 1999-10-09 9 Reuters THE Monetary Authority of Singapore (MAS) said yesterday it wiU reopen tenders for $850 miUion of five-year government bonds on Oct 15. The date of maturity wUI be May 15, 2004 and the closing date of applications wiU be Oct 12. TheReuters - 69 words
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499 1999-10-09 9 Price pressure seen over the next few months Reuters [SINGAPORE] The petrochemical feedstock market is enjoying some of its best profit margins in two years, but analysts said downside risks were emerging. "I think the petchem companies will enjoy these relatively goodReuters - 499 words
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Article, Illustration278 1999-10-09 9 Reuters SEVEN wireless operators have signed a memorandum of understanding for the Joint Initiative towards Mobile Multimedia (Jimm), Singapore Telecom Mobile, a unit of Singapore Telecommunications, said yesterday. It said in a statement Jimm is an operator's forum to seek common technical approaches to enableReuters - 278 words
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Advertisement358 1999-10-09 8 r —m 1 Hi LEE KUAN YEW W affl C H O U I S H I > J H I LEE KUAN YEW I I SCHOLARSHIPS H The Lee Kuan Yew Scholarships are prestigious Postgraduate Scholarships intended for outstanding Singaporeans to SBs pursue postgraduate studies overseas or locally in358 words
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Advertisement6 1999-10-09 9 THEBUSINESSTMES C Jamm Shipping times 36 words
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MAIL bag
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385 1999-10-09 10 Peter Heng - Peter Heng First Vice-President Public Relations Advertising United Overseas Bank on behalf of all the CPF Agent Banks (DBS Bank, Keppel Tat Lee Bank. OCBC, OUB. UOB) Singapore WE refer to N Grandhi's letter, "Cut bank fees for share trading accounts" (BT,385 words
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57 1999-10-09 10 Peter Lim Singapore via Internet - Peter Lim Singapore via Internet THIS is an alert to your readers. The Malaysian immigration card at the Causeway has been changed to a new three-fold form. Anyone using the old form would be asked to refill the new form. This has caused57 words
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786 1999-10-09 10 Wang Lu Jun - Wang Lu Jun President, Cosco Holdings (Singapore) Pte Ltd Singapore WE refer to your report "Cosco Pacific drops plans to buy Singapore-listed Cosco Investment" (BT, Sept 29) by your correspondent in Hongkong. We would like to clarify the circumstances for your readers: 1. There786 words
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Article123 1999-10-09 10 Philip Lim Singapore via Internet - Philip Lim Singapore via Internet I REFER to your reports "No 80% limit for home loan refinance: MAS" (BT, Oct 4) and "MAS says there's no easing of policy on housing loans" (BT, Oct 5). I would like to express my shock at news that123 words
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Article95 1999-10-09 10 Denis Distant Singapore via Internet - Denis Distant Singapore via Internet FIFTEEN months ago, you published my letter "No need for finance companies at all" (BT, July 3,1998). I stated my reasons for saying finance companies were an anachronism and should disappear from the financial scene instead of merging, as95 words
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504 1999-10-09 10 Narayana Narayana Singapore via Internet - Narayana Narayana Singapore via Internet MY letter "Broker won't deal in odd lots? Ditch him" (BT, Sept 25) was merely an attempt to resolve some of the queries raised by Denis Distant. I am in full agreement with Mr Distant in his504 words
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Article, Illustration222 1999-10-09 10 Paul Thompson Singapore via Internet - Paul Thompson Singapore via Internet I AM replying to Samuel G Panthradil's letter "UK football clubs' acquired players are not capitalised" (BT, Oct 5). This letter, written in response to my article "Mind the GAAP" (BT, Sept 28), correctly pointed outFILE PHOTO - 222 words
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Page 10 Advertisements
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Advertisement32 1999-10-09 10 E-mail: btletter@sph.com.sg Hotel Suites, Canada I Vancouver's Robson Street _j I l' i* j~j --jjfw IWKM'MKNT OlM'ORIlNin Excellent Returns Annually For 20 Years I "s*' j7=ji' j"j*j'jijvr j :vri rhsij u ursi32 words
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MALAYSIA news
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461 1999-10-09 11 I mergers KUALA LUMPUR Central bankers meet with execs from some banks to discuss merger plan Reuters FOUR Malaysian banking groups, spurred by comments by Prime Minister Mahathir Mohamad, are lobbying hard to create at least two new core institutions under theReuters - 461 words
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482 1999-10-09 11 KUALA LUMPUR It is making an offer for the remaining shares in Ban Hin Lee it doesn't own Bloomberg, AFXAsia SOUTHERN Bank Bhd, one of the six Malaysian banks the government picked to lead a merger, proposes to make aBloomberg,; AFX- Asia - 482 words
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MARKET moves
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Article83 1999-10-09 11 COUNTERS linked to Rashid Hussain rose yesterday on news that RHB Bank has redeemed 500 million Malaysian ringgit (Ss22l million) worth of bonds issued to Danamodal in an apparent bid to clinch the prized "anchor" bank status. RHB warrants jumped 19 sen to RM1.05. RHB83 words
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67 1999-10-09 11 TA Enterprise perked up yesterday on renewed talk of an imminent takeover. The counter rose over 9 per cent to RM1.69 in heavy volume. TA executive chairman Tony Tiah had appeared at the sessions court on Thursday to face allegations of abetting Soh Chee Wen67 words
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Article67 1999-10-09 11 TELEKOM Malaysia chalked up 50 sen to 11.50 Malaysian ringgit despite the company's denial of a rumoured sale of a sizeable block of shares to Nippon Telegraph and Telephone. This will not be the end of the persistent rumour, despite Telekom's denials over the last few months. This67 words
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Article62 1999-10-09 11 Eddie Toh - Compiled by Eddie Toh RENONG and United Engineers Malaysia inched up yesterday on news that Renong will return to the black in two to three years. Renong was 5 sen to 2.30 Malaysian ringgit, while UEM gained 20 sen to RM6.80. The two companies have debts amounting to62 words
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458 1999-10-09 11 Diana Oon Abdullah - Bat ratings upgrade will depend on how expected polls are carried oat: Moody's From Diana Oon Abdullah in Kuala Lumpur INTERNATIONAL rating agency Moody's Investors Service yesterday upgraded the outlook of Malaysia's long-term foreign currency rating from "stable" to "positive", based on the country's458 words
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Article, Illustration331 1999-10-09 11 Moody's upgrade, Merrill's upward revision of earnings forecast among factors cited Reuters, AFP [KUALA LUMPUR] Malaysian shares closed at its highest level in more than a month yesterday, helped by a confluence of positive news. And the market outlook for next week is equallyReuters,; AFP; FILE PHOTO - 331 words
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Article111 1999-10-09 11 KUALA LUMPUR Reuters THE Kuala Lumpur Stock Exchange has launched an Internet-based service allowing investors and other users timely and easy access to company announcements and financial reports. Exchange officials said yesterday the free service, called KLSE Link, is available on www.klse.com.my. The service, linked toReuters - 111 words
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216 1999-10-09 11 KUALA LUMPUR Charter plane firm says MAS failed to payUSsLBmforjet Bloomberg MALAYSLAN Airline System Bhd (MAS) denied claims by World Airways Inc. a USbased operator of charter planes, that Malaysia's dominant carrier owes it money. On Thursday, World Air- ways, 20 perBloomberg - 216 words
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236 1999-10-09 11 KUALA LUMPUR It says it's close to deal on the distribution of seats Reuters MALAYSIA'S four-party opposition front said yesterday it expects to release its election manifesto by the end of this month and was close to a pact on the distribution of seats.Reuters - 236 words
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136 1999-10-09 11 U KUALA LUMPUR Reuters MALAYSIA'S MTD Capital Bhd said yesterday it had held talks with Intria Bhd and Intria's bankers on buying a stake in the construction firm. It said in a statement to the Kuala Lumpur Stock Exchange that it hasReuters - 136 words
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SOUTH east asia
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Article938 1999-10-09 12 Foreign firms now control four of Thailand's 13 full-service banks and offer far superior service Bloomberg [BANGKOK] Somchai Korkiatpinyo smiles as he leaves a Bank of Asia office in downtown Bangkok, after transferring money to pay a supplier of his family's garment business. For theBloomberg - 938 words
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350 1999-10-09 12 BANGKOK Move will allow SG Asia Credit to got into state-funded rescue scheme Bloomberg SG Asia Credit Pel, the Thai lending and brokerage arm of France's Societe Generale, said it will write down its capital by 75 per cent to qualifyBloomberg - 350 words
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288 1999-10-09 12 BANGKOK Bloomberg THE former president of Siam City Bank Pel, charged with criminal negligence along with 11 colleagues, said he did nothing wrong during his 10 years at Thailand's sev-enth-largest bank. Thailand's central bank on Thursday alleged that the former executives, including SomBloomberg - 288 words
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Article, Illustration56 1999-10-09 12 [DILI] Bishop Carlos Belo performing mass in the East Timor capital yesterday. The bishop, who returned to East Timor on Wednesday from forced exile due to violence in Dili, arrived in the city to find his home destroyed by fire and many religious artifacts desecrated inREUTERS - 56 words
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184 1999-10-09 12 JAKARTA AFX-Asia THE Central Jakarta State Court has ordered the liquidators of a bank closed by the government, PT Bank Dwipa, to pay out a total of 98.127 billion rupiah (Ss2l million) in third party deposits, the lawyers for the plaintiffs, Lucas, SHAFX-Asia - 184 words
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303 1999-10-09 12 JAKARTA Power operator says it's still in talks with state firm PLN Reuters INDONESIAN electricity operator PT Paiton Energy said yesterday it regrets that state power firm PT Perusahaan Listrik Negara (PLN) had filed a lawsuit at a time when they were in talks overReuters - 303 words
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548 1999-10-09 12 I JAKARTA Indonesian president says he is confident Golkar won't revoke his candidacy and he will be re-elected Reuters INDONESIA'S President BJ Habibie yesterday gave a stern defence of his record, saying he was deeply hurt by criticisms and had weptReuters - 548 words
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NOTE Book
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76 1999-10-09 12 Reuters [BANGKOK] Thai Prime Minister Chuan Leekpai said yesterday he may dissolve Parliament early next year and confirmed that his six-party coalition government would not complete its full term which expires in November 2000. He was commenting on a report in a local newspaper which quotedReuters - 76 words
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Article59 1999-10-09 12 Bloomberg [BANGKOK] Thailand's exports in September rose 1.6 per cent from the previous month to the highest level in almost two years as a weakening b&ht and economic recovery in the region spurred demand. Exports totalled US$5.O6 billion (SsB£ billion), 8.3 per cent higher than theBloomberg - 59 words
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76 1999-10-09 12 Bloomberg [BANGKOK] Bangkok Bank, Thailand's largest bank, forgave about 57 per cent of a 322 million baht (5513.5 million) debt owed by Thai Film Industry in exchange for a 29 per cent stake in the food packaging maker. Bangkok Bank, Thai Film's biggest creditor, receivedBloomberg - 76 words
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Article72 1999-10-09 12 Reuters [JAKARTA] Leading presidential rivals Megawati Sukarnoputri and Abdurrahman Wahid, also known as Gus Dur, yesterday arrived together to pay their respects at the grave of Ms Megawati's fether, founding president Sukarno, the official Antara news agency said. The two politicians, both candidates for the OctReuters - 72 words
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80 1999-10-09 12 AFX-Asia [JAKARTA] The Supreme Court has rejected an appeal by Arab Ranking Corporation, Credit Agricole Indosuez of France and Seoul-based Asian Banking Corporation over their bankruptcy suit against 811 Finance, Jakarta Post reported. The three banks had arranged syndicated loans totalling U5565.3 million (SIIIO million)AFX-Asia - 80 words
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Advertisement10 1999-10-09 12 today©^*#. pflianhe laobao W;SJ3tS*J zclKltfStt 111 V JKL VJ I10 words
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Advertisement8 1999-10-09 12 Strait Talk Theßi bi ness Times Shipping Times8 words
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EAST asia
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379 1999-10-09 13 BEIJING 1999 growth likely to hit 7.6%, up from initial forecast of 7% AFP CHINA'S economic growth is likely to reach 7.6 per cent for this year compared with an initial forecast of just 7 per cent, an official think-tank predicted yesterday. "The growth rateAFP - 379 words
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330 1999-10-09 13 HONGKONG Bloomberg CLP Holdings Ltd shareholders approved a plan to buy back a 15 per cent stake in Hongkong's biggest power company from Citic Pacific Ltd for HKSI2.B billion (Ss2.B billion). Citic, a China-controlled investment company headed by LarryBloomberg - 330 words
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Article, Illustration275 1999-10-09 13 HONGKONG Internet companies reminded about disclosure standards Reuters IN a bid to cool recent volatility in technology stocks, Hongkong regulators reminded companies yesterday of disclosure standards and warned investors to deal carefully. "In view of the market's strong reaction to information about listed issuers'Reuters; FILE PHOTO - 275 words
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242 1999-10-09 13 Meera Tharmaratnam - From Meera Tharmaratnam in Hongkong CONGLOMERATE First Pacific Co Ltd said it has no plans to make a cash offer for London-based property consulting firm Savills Pic. In a statement yesterday, the group categorically denied a newspaper article that appeared in242 words
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SOUTH asia
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303 1999-10-09 13 BOMBAY Bloomberg [BOMBAY] Indian banks expect to raise up to US$3 billion (Sss billion) in the first year of a plan to convince citizens to pull gold from under mattresses and hand it over to banks, in return for a piece of paperBloomberg - 303 words
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Article, Illustration474 1999-10-09 13 INDIA FTP I El BOMBAY Investors hail re-election of Vajpayee; rupee firms against US$ Reuters, Bloomberg INDIAN share markets bounded to new highs yesterday as investors revelled in the re-election of Prime Minister Atal Behari Vajpayee. The market is optimistic that theReuters,; Bloomberg; AFP - 474 words
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Article157 1999-10-09 13 BANGALORE Bloomberg INFOSYS Technologies Ltd, India's only Nasdaq-listed company, said fiscal second-quarter profit surged a higher-than-expected 131 per cent, buoyed by demand from new software customers and a stronger dollar. Infosys which this year became the first Indian company to trade in the US saidBloomberg - 157 words
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Article, Illustration784 1999-10-09 13 vikram khanna - I \icomment There are reasons to expect the BJP-led coalition will last longer this time round vikram khanna THE results of India's latest general elections, while not the greatest recipe for political stability, hold out hope that the country's poll-weary citizens might, just might,784 words
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WORLD news
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733 1999-10-09 14 Anthony Rowley - Financial panel says it can't be sure that a foreign takeover of a Japanese bank is entirely positive From, Anthony Rowley in Tokyo SIGNALLING what many believe will be a more cautious official attitude towards banking takeovers and mergers in Japan,733 words
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286 1999-10-09 14 SYDNEY Bloomberg MARC Faber, managing director of Hongkong investment manager Marc Faber Ltd, and publisher of the monthly Gloom Boom Doom report, addressed an ANZ Investment Bank breakfast seminar on the subject of Australian investment in a global context. Hie opportunity for Australia in Asia:Bloomberg - 286 words
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236 1999-10-09 14 ■TOKYO AFP JAPAN will start drawing up a stimulus package worth more than 10 trillion yen (*****.3 billion), government leaders said yesterday, hoping to secure a recovery in the world's second largest economy. The move was widely expected and should help the economyAFP - 236 words
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504 1999-10-09 14 LONDON They are obsessed with short term profits, it says FT, Bloomberg EMBATTLED hedge fund manager Julian Robertson has pointed the finger at European investors obsessed with short term profits for worsening the plight of his Tiger Management fund group. Mr Robertson hasFT,; Bloomberg - 504 words
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Article, Illustration87 1999-10-09 14 [SYDNEY] A fire-eating busker performing his act in front of the Sydney Opera House yesterday. New standardsfor buskers are being proposed by the local council to boost the standards ofstreet entertainment for the upcoming Sydney 2000 Olympic Games, with the influx ofan expected 1.5 million visitors toREUTERS - 87 words
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Article235 1999-10-09 14 WASHINGTON Dow Jones Newswires FEDERAL Reserve Chairman Alan Greenspan is slated to give three speeches next week, including one dealing with the economy, according to the Fed's latest public appearance schedule. On Friday, Oct 15, Greenspan is set to speak on "Business, the Economy andDow Jones Newswires - 235 words
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615 1999-10-09 14 D Ravi Kanth - Text is skewed, say unhappy developing nations Prom D Ravi Kanth in Geneva THE World Trade Organisation (WTO) yesterday put out a draft plan indicating severed new areas for the upcoming round of global trade talks, but trade diplomats from developing countries615 words
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WORLD Watch
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67 1999-10-09 14 Bloomberg [TOKYO] Fujitsu Ltd will help launch this month a US$BO million (Ss6l million) ftmd to finance Asian Internet start-ups. Fujitsu, which runs Japan's No 1 Internet service provider, will pool capital with investors like Dai-Ichi Mutual Life Insurance, Sumitomo Life Insurance and Itochu Finance.Bloomberg - 67 words
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70 1999-10-09 14 AFP [SEOUL] Kim Woo Choong, the chiefofthe ailing Daewoo Group, resigned yesterday as chairman of the powerftil corporate lobby, die Federation of Korean Industries (FKD- Yesterday night, FKI deputy chairman Sohn Byung Doo read out a statement from Mr Kim, saying: "The decision toAFP - 70 words
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104 1999-10-09 14 Bloomberg [SEOUL] In a blow to Korea, which has been trying to attract foreign investment and expertise in the financial sector, Reliance Group Holdings, the commercial property and casualty insurer controlled by financier Saul Steinberg, is closing its office in Korea as of Dec 1Bloomberg - 104 words
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80 1999-10-09 14 AFP [LONDON] One of the trains involved in Britain's worst rail crash for SO years passed a red danger signal, the Health and Safety Executive (HSE) said in preliminary findings yesterday. Analysis of data tapes suggest the aignal gqnipmwnt mi ntiHkriy tn haveAFP - 80 words
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87 1999-10-09 14 Reuters [TOKYO] Mitsubishi Motors and Sweden's AB Volvo said yesterday they were teaming up to form the world's biggest truck and bus group in a deal that expands Volvo's reach into Asia and offers some relief for debt-burdened Mitsubishi. Mitsubishi will spin off its truckReuters - 87 words
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Article, Illustration47 1999-10-09 14 AFP [VERONA, New York] Laila All (right), daughter of boxing great Muhammad Ali, weighing in on Thursday at the Turning Stone Casino Resort. Ali made her debut as professional fighter yesterday in a four-round middleweight match against April FOwlar of Michigan City, Indiana.—AFP - 47 words
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560 1999-10-09 15 SYDNEY Discussions on to boy properties for listing on Australian Stock Exchange Bloomberg LEND Lease Corp, the No 1 manager of real estate holdings for pension fluids in the US, is in talks to buy properties from US billionaire financier Sam Zell'sBloomberg - 560 words
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336 1999-10-09 15 FAIRFIELD, Connecticut Company on track for another year of record performance Bloomberg GENERAL Electric Co, the second largest US company, said third-quarter profit rose 16 per cent, helped by acquisitions and more sales of engines and contracts to service industrial equipment. Net incomeBloomberg - 336 words
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Article, Illustration624 1999-10-09 15 PBOFLB AFP [WASHINGTON] Flamboyant New York real estate mogul Donald Trump announced Thursday he was planning a run for the White House on the Reform Party ticket and said he'd like talk-show hoet Oprah Winfrey to run for vice-president. "The pollsAFP - 624 words
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162 1999-10-09 15 LONDON AFP THE chief executive of National Westminster (Nat est) bank yesterday signalled his intention to quit in a last-ditch boardroom shake-up aimed at staving off an unfriendly takeover offer. The announcement came two weeks after Bank of ScotlandAFP - 162 words
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Page 15 Advertisements
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Advertisement1503 1999-10-09 15 NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298^ (Licensed Offshore Bank No. *****1-C) With effect from 31st October 1999, the offshore banking business conducted by Allied Irish Bank PLC in Labuan will cease. Pursuant to the requirements of the Offshore Banking Act, Allied Irish Bank PLC will1,503 words
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FINANCE & commodities
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Article233 1999-10-09 16 Daphne Tay - SINIJTK Reports MSCl Singapore Index Daphne Tay Jardine Fleming AFTER running for three consecutive days, the Singapore stock market took a breather yesterday ahead of the weekend and the release of US employment and wages data due out last night. The Straits Times Index traded within233 words
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168 1999-10-09 16 Juliana Loo Na Na - MSG! Taiwan Moras Juliana Loo Na Na Refco Singapore THE Simex MSCI Taiwan Stock Index futures failed to sustain its Thursday rise yesterday, falling 2.9 points amid concerns that the decline caused by last month's powerful earthquake will continue as increasing provisions hit earnings.168 words
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Article303 1999-10-09 16 ENERGY REPORT Reuters [LONDON] Oil's sudden downturn accelerated yesterday as speculators rushed to sell amid doubts about Opec's resolve to maintain strict adherence to supply limits. In a fifth straight day of losses, benchmark Brent crude for November traded US$l.64 a barrel lowerReuters - 303 words
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Article314 1999-10-09 16 Reuters T^|fH THE euro fell to one-week lows against the US dollar yesterday in a spillover from the previous day's decision to keep euro rates steady. The euro sold off against dollar and yen early in the European session as investors registered their disappointment at steady euro rates.Reuters - 314 words
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Article, Illustration586 1999-10-09 16 AJI-jenes M*urt«>lyr;Short 1-3yrs,Long >3yrs DITHRBAJrR CROSS RATES <x t s u g »o nr m o» mm* N» mm Mr H >iN1 OOt tartrate 49M 4170 OJO 4032 1102 SJM 2150 5U71 470* 7.904 L4H UTS 340Q 245M U03 MM 4979 20J57 *19* OJM UP Cm* UM8 4M9 OJM 401586 words
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Article446 1999-10-09 16 SIOOM PDTUEBS Oct 8 MHBI(fMmiclNto«N«UI|a> am mm Qm II i B i ..I *7* 5» 6000 *25 fg tec 99 44.00 61.75 6M0 100 WOO Jm 00 KM tut AS It 855 MOO 67.50 i1M 67JO 310 W Jfi5 acsMaeMnvMrwwMitf an* mm »p m y» m—m—mm Oct 99 66.00 Nw99446 words
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STOCKS east asia
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Article, Illustration2754 1999-10-09 17 HONGKONG Reuters PHangSeng -0.78 HONGKONG stocks finished virtually unchanged after being kept within a 100 point range all day yesterday with investors staying on the sidelines for a US job report for September due later. The Hang Seng Index ended downReuters - 2,754 words
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Article604 1999-10-09 17 AFP AFP, Reuters Pwpmi -MUtt TAIWAN share prices closed 0.8 per cent lower yesterday in thin trading as investors took to the sidelines, dealers said. The Taiwan Stock Exchange Weighted Price Index fell 59.02 points to 7,552.98, on turnover of NT565.85 billion. "Investors refrained from buying due to anAFP; AFP,; Reuters - 604 words
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Article1885 1999-10-09 17 TOKYO AFP guanas -7437 SHARE prices in Tokyo lost 0.4 per cent yesterday on profit-taking after six straight days of gains, brokers said. The Nikkei Average 0f225 selected issues fell 74.37 points to end at 18,062.18. But the Topix Index of all first-section issues wasAFP - 1,885 words
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Page 17 Advertisements
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Advertisement16 1999-10-09 17 Wednesday The oloring prices for stocks listed on the China markets were net available Biz IT16 words
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STOCKS klse
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Article7949 1999-10-09 18 Cwhmt pntfKts im Last vei Day m* cm High U» Cggg im ■ooo H>gh Um */t 440 2S9 AJIoomoto 32* 20.7 132.1 174 46 Angkasa 101 3 *7 101 99.5 MM 404 220 Apollo Food Hlg 320 -4 7 324 320 11.1 «64 294 IIS Berteye Lend M7 -3 7947,949 words
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Article, Illustration266 1999-10-09 18 AFP fl Pamoate late +til MALAYSIAN share prices closed 1.2 per cent higher yesterday, boosted by news of a ratings upgrade by Moody's Investors Service and speculation of a snap election soon, dealers said. The Kuala Lumpur Stock Exchange Composite Index rose 9.11 points toAFP - 266 words
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Page 18 Advertisements
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SES clob & regional stocks
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Article2587 1999-10-09 19 BOMPS A WAREAMTS octs m Mi u-m Laat M lay LmMmI* mini tm Ml ■>» 5> U» par la* «aa- CMt> U» Bayar fcBw Pitm W 104 Is a 3)60 »Acaf*0W731US$ -36.5 -2 1 383 3*3 MLS 4L5 311 1 JS6 159 195 80 5.5 3164 Acma ******4 32 -032,587 words
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Article, Illustration735 1999-10-09 19 AFP □set Max AJB THAI share prices closed 1.2 per cent lower in thin trade yesterday amid concerns over bank and finance stocks, dealers said. The Stock Exchange of Thailand (SET) Index shed 4.62 points to close at 393.02, off a low of 390.78 and a high of 397.96.AFP - 735 words
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Article280 1999-10-09 19 AFP Dllmibt -Ml PHILIPPINE share prices fell 0.4 per cent yesterday amid concerns over the depreciation of the local currency and uncertainty abroad, analysts said. The Philippine Stock Exchange Composite Index fell 7.81 points to close at 2,063.83. Volume fell to 2.9 billion shares worth 5.2 billion pesos.— AFPAFP - 280 words
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Article, Illustration654 1999-10-09 19 AFP HCwqiwitoMm +2M INDONESIAN shares closed 0.5 per cent higher yesterday, led by a rebound in big cap stocks amid expectations of a smooth presidential election on Oct 20, dealers said. The Jakarta Stock Exchange Composite Index closed up 2.89 points at 588.24. The course of the Indonesian stockAFP - 654 words
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Article275 1999-10-09 19 AFP QWeUmgUm +24J6 NEW Zealand share prices rose 1.2 per cent yesterday, boosted by a friendly bid for 10.5 per cent of Independent Newspapers Ltd, dealers said. The NZSE-40 Capital Index jumped 24.35 points to close at 2,065.70 on total market turnover of NZ$lB6 million.—AFP mi «a rw» AdvantageAFP - 275 words
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Article544 1999-10-09 19 AFP □AnOrfaauTM -14J AUSTRALIAN share prices closed 0.5 percent lower yesterday in generally directionless trade, brokers said. The Australian Stock Exchange's benchmark All Ordinaries Index slipped 14.9 points to 2,897.1. Turnover totalled 494.7 million shares worth AJ864.9 million. The All Resources Index ended 15.8 points lower at 1,287.6 whileAFP - 544 words
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Article258 1999-10-09 19 AFP n Composts Index -1L74 THE Korea Stock Exchange Composite Index closed down 11.74 points at 839.41. Volume was 309.1 million shares worth 3.4 trillion won. AFP Ml timiMl ***** -1000 Brain Tecti 1760 33 Central Bank 2»20 140 CheMComm ***** -900 Da* Gu Bank 4150 0 Daetang CarpAFP - 258 words
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Page 19 Advertisements
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Advertisement9 1999-10-09 19 the new The Business Times every Monday ISlDlillfMkM^^lbl'l^l BJnHtMiHaanMMMMM9 words
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Article7579 1999-10-09 20 MAIM BOARD Transaction date: Oct 8 Or 6r M Wt 52-Wk tart vol Day Last Quota Otv Dtv VM Nat Cap _«n H*g» Law StNa Cn—»»V Sala fOOO) Hlgb Law fcxyar 8a8ar CV M prtc MULTI INDUSTRY 182 17.5 lb 1000 Acma50c 116cd unch 102 117 113 1157,579 words
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Page 20 Advertisements
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Advertisement32 1999-10-09 20 OF TODAY Vl FUTURE'' THE BEST <„v BETTER I —vi r —)A n ATI AN I i 1 v rjfr^JmW'■* PREPARATION THAN DREAMS k\KI \\iiK.\! cms 1 O///A> PAST I r~~ '-'-'-"-'------^^l,^32 words
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RUGBY world cup
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Article, Illustration679 1999-10-09 21 SHAHIRON SAHARI - As England and New Zealand prepare to do battle, one thing stands out The English forward pack has a valuable quality experience which is exactly what the Kiwis lack, says MHMI SHAHIRON SAHARI THE old rugby cliche goes: forwards win matches, the threequarters only decide by how much.AFP, REUTERS PHOTOS - 679 words
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VIEWING BRIEF
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Article47 1999-10-09 21 Hie Canucks are tougher physically and slightly more organised, but the Ftfians are in a league of their own when It comse to spontaneous brilliance. It will come down to one or two inspired moments, and Fiji hold mors cards in that respect47 words
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54 1999-10-09 21 The JSpansee were disappointing in their opener against Samoa, toeing 43-9, but have a bigger task against the host nation. Wales were also a letdown against Argentina, despite winning 22*18, but should have too much firepower upfront to deny Asia's representatives only its second win54 words
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61 1999-10-09 21 A repeat of their titanic match at the 1991 World Cup, when Ireland hit the lead with five minutes to go but were beatwi Just at the death by the eventual champions, will suit everyone fine. The Irish will corns out all fire and brimstone,61 words
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63 1999-10-09 21 Their matchup in the last world cup was one of the matches of the tournament, and this one should prove the same. Argentina traditionally has the best scrum in world rugby, and a set of nippy, Latin-flavoured backs. The Samoans ars known for their63 words
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Page 21 Miscellaneous
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Miscellaneous1786 1999-10-09 21 CRYPTIC CROSSWORD 31 Sum total needed for concrete n »imwwnnwiT v )ase 14 Oddly enough, the odds are YESTERDAY'S SOLUTION very slim (3,6) Dow 15 Romantic gift is nothing to i 2 Stop in forward or reverse Livingstone (4-5) gear (4,2) 16 Disciplined Conservative Rjdo TyGyi<yDyKjimE 3 He is old1,786 words
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EXEC lifestyle
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Article, Illustration1059 1999-10-09 22 PARVATHI NAYAR - Dangerous Liaisons screenwriter Christopher Hampton tells FABVATHX KAYAR about his 'invisible career' and his move into directing PARVATHI NAYAR M HEN you go into a film as screenwriter, you know your role is U not exalted, because your work is over before the film starts. You're aPICTURES: SIEW YAW HOONG - 1,059 words
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Page 22 Advertisements
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Advertisement529 1999-10-09 22 'Being a director is a very satisfying form of flp serial monogamy, where you work with 1 everyone—the costume designer, the director of photography, the actors, the editor—and know how the process works at every level.' Short 1 had this foolish idea that (writing for) film was takes easier. But529 words
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Advertisement40 1999-10-09 22 AN EVENING AT THE OPERA yr —'•v^ Fronting GEORGES BIZET'S 11 8c 12 October 1999 *IjH Mandarin Ballroom Dinner Show: $108 nctt per person V For reservations: it Mamiann Sjmgymnr Orchard Road. Singapore *****7 W: 737 4411 Fax 732 236140 words
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