The Business Times, 3 April 1999

Microfilm: NL21482
Total Pages: 16
1 16 The Business Times
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  • Title Section
    Masthead
    11 1 The BusinessTimes X<bJpfcC(P) 85<s SINGAPORE Internet: http://business-times.asial.com.sg/ SATURDAY, APRIL 3, 1999
    11 words
  • Article
    MARKET SUMMARY
    43 1 ST0G1KABKETIXDICES Friday Change KLSECOMP Wfl.07 +1161 NIKKEI 1W90.19 -37.87 HANG SENG Closed SET INDEX 367.11 JAKARTA COUP Closed MANILA COMP Closed TAIPEI WP! 7,***** +113-83 SEOUL COMP MC.78 +9.89 CLSA CHINA B Closed AUST ALLOW) Closed 12aooa EST Change DOW Closed
    43 words
  • Article
    FINANCE
    75 1 FOBEX BATES US$ St US$ 1.724 £(US$/S$ per 1.809 1774 EUR0(USS/8$perE) LOTS 1.849 DM 1.823 0.946 YEN 118.7 1.462* RM 1800 0.464 HKS 7.7H IXB BAHT S7Jf 0.046 KUPIAH 1676 0.020 •Stto Mm** pidds Kins SINGAPORE* KUALA LUMPUR 11.5« JAKARTA .28.00 BANGKOK 1175 MANILA ..22.90 HONGKONG 10.25 TAIPEI £.80
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  • Article
    Signs of revival of foreign interest in top-end condos
    577 1  -  Survey of five projects points to stabilisation of prices Byi Corinne Kerk [SINGAPORE] Foreign buyers appear to be coming back strongly in the mid-to-high end condominium market, and there are signs that prices of such properties may have stabilised. A sample
    577 words
  • Article, Illustration
    Asian efforts to overcome crisis showing results: IMF official
    622 1  -  But more needs to be done as turmoil's not over yet, Neiss says By' Vikram Khanna [SINGAPORE] The policies adopted by countries to deal with the regional economic crisis have begUn to pay off, but the crisis is not over yet,
    622 words
  • Article
    Stronger challenge ahead for Simex as Tokyo frees up trading
    654 1  -  Tokyo exchange to introduce give-up facility by October By I Siow Li Sen [SINGAPORE] The Singapore International Monetary Exchange (Simex) may soon face a strong challenge from Tokyo when the Japanese futures exchange scraps the last of its barriers to
    654 words
  • Article, Illustration
    Lock icon Tokyo exchange turns 50
    74 1 [TOKYO] The mood was subdued as the Tokyo Stock Exchange celebrated its 50th tmmversary yesterday after a dismal year amid the country's deepest recession since World war n. Prime Minister Keizo Obuchi attended a ceremony at the exchange with Finance Minister KiichiMiyazawa. Bank of Japan governor
    APP  -  74 words
  • Article
    Lock icon American economy enters Q2 looking good
    416 1 Reuters [NEW YORK] Buttressed by eight years of robust growth, the US economy rode into the second quarter of 1999 on another wave of strong economic statistics, confirming that the economy's uptrend is far from over. American consumers, already instrumental in helping the economy
    Reuters  -  416 words
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      Page 1 Advertisements Column 1
      182 1 DfSIPE OfwahnM Cheer City Properties, a HK property vehicle of Ng Teng Fong, has successfully raised a HKll.lb loan in Hongkong after an oversubscription, of almost 40%, P* 10 Bull in the sky? The Dow may be struggling to break 10,000 now. But it adds to the perspective to ask
      182 words
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      Page 1 Advertisements Column 2
      18 1 Dow Jones: 10,000 today, 50,000 in 2020? Pg 10 Top 20 US mutualfunds rake in USs26b, Pg 13
      18 words
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  • SINGAPORE AT HOME & ABROAD
    • Article
      BG Lee urges Asean to stay the course on free trade
      496 2  -  Backtracking conld lead to stronger temptation to shnt ont foreign investors From Harish Mehta in Bangkok ASEAN must not slow down or backtrack from creating an area of free trade and investments because if these plans were shelved, then
      496 words
    • Article, Illustration
      Lock icon Great World City 96% occupied despite slow economy
      449 2  -  Knok ((roup trimmed rents, allows temporary leases Reports by < Carol Eng ONE-and-a-half years after its opening amid Singapore's economic downturn, Great World City's committed occupancy rate stands at 96 per cent achieved through a mild fall in rents. The $200 million
      ARTHUR LEE  -  449 words
    • Article
      Good rentals, big spenders make it Best to stay put
      400 2 JAPANESE electricals chain Best Denki is staying put at Great World City after all, thanks to attractive rentals and big spenders. v Not only will the company convert its "temporary" store at the Kim Seng Road mall into a permanent
      400 words
    • Article
      S'pore can play lead role in financial planning in Asia
      398 2  -  It has necessary infrastructure, says industry body chief By I Soh Tiang Keng SINGAPORE can play a leadership role in the practice and setting of standards for financial planning in Asia. This was stated on Thursday by Robert Goss, president
      398 words
    • Article, Illustration
      Lock icon Size doesn't matter here
      742 2  -  EYE ON THE ECONOMT By* Anna Teo Did the first quarter just ended see a bottoming out of not only GDP contraction but also company performance and economic sentiment? To get a quick feel of the pulse of the economy, weeks before the official numbers are
      Source: BT-CBRD survey  -  742 words
    • Article
      Differentiate between shelf, operating firms
      420 2  -  MfATT.PAfl Toh Chun Toh Singapore I REFER to Tan Bien Chuan's letter "Rough justice for venture capitalists", (BT, March 30) and the reply of the Registrar of Companies and Businesses (RCB) on April 1. Like Mr Tan, I am caught in a similar situation as
      420 words
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  • ASIA'S ECONOMIC SLUMP
    • Article
      Lock icon Japan businesses likely to be more upbeat in Q1: economists
      898 3 Poll of 9,500 firms seen to show first rise in confidence after 7 quarters Bloomberg [TOKYO] Business confidence in Japan improved in the first three months of the year, a central bank survey will probably show, thanks in part to
      Bloomberg  -  898 words
    • Article
      Lock icon Europe claims equal role to US in supporting Asian trade
      365 3 AFP [TOKYO] Europe and the United States are shouldering an equal burden by accepting exports from crisis-stricken East Asia, visiting French Treasurer Jean Lemierre said yesterday. Mr Lemierre, visiting Tokyo after a trip to Beijing, told AFP he used meetings
      AFP  -  365 words
    • Article
      Lock icon Upgrade for Thailand soon?
      397 3 Outlook may be raised bat sovereign la ten analysts Reuters [BANGKOKJ Crisis-hit Thailand might soon join its neighbour Malaysia in having its outlook upgraded by ratings agencies, but a lifting of its sovereign rating may come much later, analysts said yesterday. The upgrade looks likely due
      Reuters  -  397 words
    • Article, Illustration
      Lock icon Praying for crisis to end
      48 3 [SEOUL] Chung Dae Choi (second from left), vice-president of South Korea's ruling National Congressfor New Politics party carrying a heavy wooden cross on the main street in Seoul on Good Friday yesterday as he prayedfor an end to the country's economic crisis. AFP
      AFP  -  48 words
    • Article
      Lock icon Bank Negara in US$2b intervention
      313 3 Hove follows fall of, interbank rates to four-year low Reuters [KUALA LUMPUR] Malaysia's central bank m6pped up nearly US$2 billion (553.4 billion) from the money market yesterday in an aggressive intervention after benchmark interbank rates slumped to a nearly four-year trough. In a banking system
      Reuters  -  313 words
    • Article
      Lock icon China's current investment system faces risks: official
      329 3 Bernama-Xinhua [BEIJING] China's current investment and financing system continues to feature characteristics of a planned economy and may result in high financial risks if allowed to remain unchanged, according to a senior official in charge of monetary policy. State-owned and loss-mak-ing enterprises continue
      Bernama-Xinhua  -  329 words
    • Article, Illustration
      Lock icon Support new round of global trade talks, EU urges
      424 3 It tells Asia this is one way of helping trade and growth Reuters [KUALA LUMPUR] The European Union (EU) appealed to Asia yesterday to support a new round of global trade talks as a way of reviving their damaged economies. "I
      Reuters; AFP  -  424 words
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  • REGION
    • Article
      Lock icon 200 more troops sent to Malukus as death toll rises
      240 4 AMBON AFP AN extra 200 troops were flown to the riot-torn southeastern Maluku islands yesterday as the death toll in a fresh Muslim-Christian violence rose to Hi a doctor and residents said. The general hospital in Tual, where the latest
      AFP  -  240 words
    • Article
      Lock icon China confirms Zhu's US visit
      125 4 WASHINGTON AFP CHINA confirmed Thursday that Premier Zhu Rongji will visit the United States later this month, contrary to rumours that the visit could be postponed due to US-China tension over Kosovo. "Premier Zhu will visit the United States on April 6 through April 14,"
      AFP  -  125 words
    • Article
      Lock icon Dr M responds to Anwar suit
      283 4 KUALA LUMPUR Statement cites qualified privilege, honest belief in trnth of words Bernama PRIME Minister Mahathir Mohamad has filed his statement of defence in response to the 100 million Malaysian ringgit (Ss4s million) defamation suit brought by his former deputy, Anwar Ibrahim, against him.
      Bernama  -  283 words
    • Article
      Lock icon Gitic creditors to meet in court on April 22
      220 4 BEIJING Reuters CREDITORS of the failed Guangdong International Trust and Investment Corp (Gitic) will meet at the Guangdong Provincial Supreme People's Court on April 22, the court said yesterday. The announcement, in a statement published in the People's Daily newspaper, was
      Reuters  -  220 words
    • Article, Illustration
      Lock icon Chinese banks told to lend more to state firms, says report
      476 4 BEIJING Move seems to revise earlier stand in an effort to address jobless problem Reuters IN a sign reflecting Beijing's concern about rising unemployment, banks have been told to boost lending to ailing state firms, state media said yesterday.
      Reuters; REUTERS  -  476 words
    • Article
      Lock icon US unhappy with China's market access barriers
      386 4 WASHINGTON Japan hits back at USTR report, says it's erroneous AFX-Asia, AFP THE Clinton administration has "serious concerns" over China's "pernicious" market access barriers, according to a formal report released by the Office of the US Trade Representative. The report, called the National
      AFX-Asia,; AFP  -  386 words
    • Article
      Lock icon China okays CDMA, signs deals with 2 firms
      474 4 GUANGZHOU Motorola wins USs2om pact to add 35 Beijing cell sites AFP CHINA confirmed the introduction of the US mobile telephone technology CDMA yesterday, signing a pair of infrastructure-purchasing deals with US telecoms firms. Motorola Inc and Lucent Technologies Inc sealed the
      AFP  -  474 words
    • ASIA Notes
      • Article
        Lock icon Lottery raises 1.5b yuan for flood victims
        84 4 Reuters [BEIJING} A Chinese lottery has raised 1.5 billion yuan (*****.5 million) to help hundreds of thousands of people hit by devastating floods last year, state media reported yesterday. It said the money was handed over to the State Council, China's cabinet, to
        Reuters  -  84 words
      • Article
        Lock icon San Kyi holds prayers for husband
        74 4 AFP [YANGON] Myanmar opposition leader Aung San Suu Kyi yesterday hosted more than 1,000 supporters and diplomats as Buddhist monks chanted rites for her British husband who died last weekend. Fifty-three monks led prayers at her compound in memory of Michael Aris, who died
        AFP  -  74 words
      • Article, Illustration
        Lock icon Waste cargo leaves Cambodia
        72 4 Reuters [PHNOM PENH] A dumped shipment of mercury-laced Industrial waste left Cambodia yesterday after the Taiwan firm that produced it, Formosa Plastics, said a plan to send it to the US had fallen through. The shipment, which sparked riots and a panicked exodus that killed several
        Reuters  -  72 words
      • Article
        Lock icon Ex-Taiwan premier defends China trip
        91 4 Reuters [TAIPEI] A Taiwan ex-premier yesterday defended plans for his first trip to mainland China since its communist takeover half a century ago, saying his loyalty to the Nationalist-ruled island was beyond question. Hau Pei-tsun, 80, Taiwan's military chief before President Lee Teng-hui named him
        Reuters  -  91 words
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  • REGION/WORLD
    • Article
      Lock icon FOMC unanimous about holding rates at Feb meeting
      502 5 WASHINGTON Bloomberg FEDERAL Reserve policymakers were unanimous in holding the overnight bank lending rate steady at their Feb 2-3 meeting, while they also continued to take a wait-and-see attitude on raising or lowering the interest rates between meetings, minutes of the session
      Bloomberg  -  502 words
    • Article
      Lock icon 37 N Koreans feared dead in ship mishap
      274 5 SEOUL AFP THIRTY-seven North Koreans missing since their freighter collided with a ship from rival South Korea in the Indian Ocean two days ago are all feared dead, shipping officials said yesterday. "We received a report that they could not find any
      AFP  -  274 words
    • WORLD Watch
      • Article
        Lock icon Melissa virus man arrested
        98 5 Bridge News [TRENTON, New JerseyJ A man has been arrested and charged with originating the e-mail virus known as Melissa, the New Jersey state attorney general's office announced yesterday. David L Smith, 30, of Aberdeen, New Jersey was arrested late Thursday at his brother's house in
        Bridge News  -  98 words
      • Article
        Lock icon North Korea's US$100m missile exports
        51 5 AFP [SEOUL] North Korea earns around US$lOO million (Ssl72 million) a year from exporting to countries such as Iran and Pakistan. The Korea Times yesterday quoted senior US officials as saying Pyongyang was shipping missiles, missile technology and parts produced by its advanced ballistic programme
        AFP  -  51 words
      • Article
        Lock icon Nigerian ferry sinks, 25 survivors found
        59 5 AFP [PORT HARCOURT, Nigeria) Twenty-five survivors were found yesterday from the sinking of a large ferry boat in a storm in waters off south-eastern Nigeria. The 25 were brought to shore by fishermen who had gone out to the area where the boat MV
        AFP  -  59 words
      • Article
        Lock icon Kaunda survives assassination bid
        81 5 AFP [LUSAKA) Zambia's ex-president Kenneth Kaunda has survived an assassination bid, his son said yesterday, two days after a high court stripped the veteran politician of his citizenship. Pour gunmen opened fire at the car of Zambia's founding president, outside his Lusaka house on Thursday night.
        AFP  -  81 words
    • Article
      Lock icon US unemployment rate dips to 30-year low of 4.2%
      520 5 WASHINGTON The March rate is the lowest since a matching rate in February 1970 Reuters, Bloomberg THE US unemployment rate dropped to its lowest leuel in nearly three decades in March but the roaring economy showed signs of slowing as new
      Reuters,; Bloomberg  -  520 words
    • Article, Illustration
      Lock icon Nato troops may be sent to Kosovo: report
      633 5 188 KOSOVO CRISIS Meanwhile, Clinton wants return of captnred US soldiers Reuters [WASHINGTON] Western officials are discussing a plan that calls for sending Nato troops into Kosovo once it is cleared of Serbian forces to set up a protectorate for Albanians, The
      Reuters; AFP  -  633 words
    • Article
      Lock icon ECB, Bank of England seen cutting rates this month
      414 5 FRANKFURT Govts, companies want borrowing costs to be lowered Bloomberg THE European Central Bank (ECB) and the Bank of England are likely to cut interest rates this month, probably as soon as next Thursday, to spur sluggish economic growth, investors and
      Bloomberg  -  414 words
    • Article
      Lock icon France outlines Credit Lyonnais sale plan
      412 5 PARIS Reuters THE French government yesterday outlined a plan to sell most of Credit Lyonnais in the market and a further 33 per cent to shareholder-part-ners which may each take stakes of between one and 10 per cent. It said the shareholderpartners, which are
      Reuters  -  412 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      223 5 M THE MATTER OF THE COMPAMES ACT (CHAPTER SO) AND IN THE MATTER OF EHQ THONO COMPANY PTE LTD (In Members' Voluntary LiquttMion) NOTICE IS HEREBY GIVEN twt pursuant to Section 306 of the Companies Act, Cap. 50 the final general meeting oHhe members ol the abovanamad company wM ba
      223 words
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  • FOCUS
    • Article, Illustration
      Lock icon A lesson for younger Singaporeans
      2247 6 BG Lee talks about prospects for economic recovery in the region, the threat of protectionism and the impact of the crisis on the younger generation THE crisis-hit region is stabilising, but countries still need to persevere with painful reforms, Deputy Prime Minister Lee Hsien Loong
      THIANG YU MING/LIANHE ZAOBAO  -  2,247 words
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  • EXECUTIVE LIFESTYLE
    • Article, Illustration
      Lock icon An unforgettable blues concert
      559 7  -  Aussie David Hole's blistering guitar play left a deep impression on r stvamxthy R SIVANITHY IT was a most unlikely setting for a blues concert after all, East Coast Park isn't particularly well-known for being a musical hotbed, being more a place for sun, sea and
      ARTHUR LEE  -  559 words
    • Article
      David Hole – an Aussie who plays the blues
      425 7 David Hole an Aussie who plays the blues Q: How did you get started in this business? A: I grew up in Perth, Western Australia, and one day when I was listening to the radio, they played a Muddy Waters track. I knew then that this was what I wanted
      425 words
    • Article
      Lock icon How to think like Leonardo da Vinci
      541 7 books Reuters [LOS ANGELES] He cooked a mean minestrone, bent horseshoes with his bare hands, threw killer parties and was a juggler beyond compare. And now, thanks to a new self-help book, you could be like him. But maybe you are more interested
      Reuters  -  541 words
    • Article, Illustration
      Lock icon Window into a lost golden age
      1058 8 ART Reuters [BALTIMORE] As moviegoers relive England's golden age under Elizabeth I, the museum world is celebrating Poland's golden age with an exhibition that includes treasures stolen by the Nazis or hidden behind the Iron Curtain after 1944. "Land of the Winged Horsemen: Art
      Reuters; REUTERS  -  1,058 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      455 7 Where to wine, dine and entertain... > -<+ wZ*:fWSmS3Bm Entertainment And/fe®d galore with cartoon characters dancing and cartoon shows, song items and jfyiinmy international buffet lunch treat featunnHßoit Leg of Lamb, Chicken Balls in Prontd Eggs and many *12.50 to join in tjfe mn dial 299 ?2if 9 n l
      455 words
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      Page 7 Advertisements Column 2
      45 7 Bhhb Btralian© Iqurmetl I^WINE ADVENTURE 1-30 April 1999 I Secretaries' Week Special Featuring a specially choreographed fashion show H from Australia |H 19-23 April 1999 12nooo 2.30pm Mandarin Ballroom, $46 nert per penoo Reservations: 831-6288 333 Orchard Road Smgapor* *****7 TH 717 2200 Fax 7U2IU
      45 words
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  • Page 8 Miscellaneous
    • Miscellaneous
      Page 8 Miscellaneous Column 1
      1798 8 CRYPTIC CROSSWORD 1A sitting-bower holds one (5) 4 Subject ofa mishap, set at sea? 8 Lower form of a spur attach 1 9 English party to make speech HH pBL— 11 What is the point of fencing (4) 12 Edict from Ukrainian leaders. making sea trip (5) I I I
      1,798 words
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  • SPORTS
    • Article, Illustration
      Lock icon Just what the Olympics needs
      954 9  -  With its spectacular backdrop, Sydney 2000 may well reduce the disillusionment over the Games caused by the recent bribery scandal, says stam Isaacs STAN ISAACS LAT-WP After about 4.5 billion television viewers around the world watch the gaudy Opening Ceremonies of the XXVII Olympiad in
      LAT-WP; FILE PHOTO  -  954 words
    • Article
      Lock icon UK eyes Keegan magic in Davis Cup
      617 9 Britain hopes to repeat soccer triumph for Ist win over US in 64 years AFP [BIRMINGHAM, England] British Davis Cup captain David Lloyd is hoping a little of England football coach Kevin Keegan's magic will rub off on his players as they hunt
      AFP  -  617 words
    • Article, Illustration
      Lock icon Davis Cup thrives 100 years after founding
      865 9 TENNIS From debut match of US vs UK in 1900, it has evolved into a 129-conntry event Reuters [LONDON] He won a medal for bravery in World War One, was governor-general of the Philippines and became American secretary of war under Calvin Coolidge
      Reuters; FILE PHOTOS  -  865 words
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  • COMPANIES & MARKETS
    • Article
      Loan for Ng Teng Fong's HK unit 40% oversubscribed
      432 10  -  Bankers say strong guarantees given make it 'almost risk-free' From* Quak Hiang Whai in Hongkong CHEER City Properties, a Hongkong property vehicle of Singapore property tycoon Ng Teng Fong, has successfully raised a HK$l.l billion ((***** million) loan in Hongkong after
      432 words
    • Article, Illustration
      Lock icon Bangkok Bank share issue oversubscribed
      306 10 AFP [BANGKOK] A billion-dollar preferred share issue forming a crucial part of Bangkok Bank pic's recapitalisation drive has been oversubscribed by seven billion baht (Ss32l million), the bank said yesterday. "We will consider soon the possibility of invoking a greenshoe option to accommodate the oversubscription,"
      AFP; FILE PHOTO  -  306 words
    • Article, Illustration
      Lock icon MAS in joint venture with Rolls-Royce
      185 10 AFX-Asia [KUALA LUMPUR] Malaysia Airline System Bhd plans to manufacture aircraft parts in a US$5O million (5586.2 million) joint venture project with Rolls-Royce pic, fiernama news agency reported yesterday. It quoted Malaysia Airlines (MAS) vice-president for aerospace development Sitham Nadarajah, as saying that the
      AFX-Asia; FILE PHOTO  -  185 words
    • Article, Illustration
      Lock icon The Dow Jones:10,000 today; 50,000 in 2020?
      823 10  -  HOCK LOCK SIEW Neil Behrmann Dow is going hit 50,000 in two decades!" After all the pessimistic comments about the US share market of the past few months, and seeing the way the Dow has been struggling with its current 10,000 milestone, doesn't
      Source: Bloomberg  -  823 words
    • Article
      Renong, UEM propose loan stocks, warrants scheme
      477 10  -  ICULS holders to get lower conversion prices nearer market values From Diana Oon Abdullah in Kuala Lumpur AS part of the group's debtrestructuring scheme, Renong Berhad and its subsidiary United Engineers (Malaysia) have proposed changes which essentially offer holders of irredeemable convertible unsecured
      477 words
    • Article
      Mesdaq aims to attract companies already listed on Nasdaq
      708 10  -  Secondary listing would be good for all, says exec chairman From, Diana Oon Abdullah m Kuala Lumpur MESDAQ, Malaysia's new technology exchange, is eager to have companies already listed on foreign exchanges such as Nasdaq in the US to consider secondary
      708 words
    • COMPANIES
      • Article, Illustration
        Lock icon CBS to buy King World Productions for US$2.5b stock
        697 11 Deal seen to benefit both financially, especially in boosting CBS' bottom line NYT [NEW YORK] CBS Inc announced on Thursday that it had agreed to buy King World Productions Inc, the syndicator of television hits like The Oprah Winfrey Show, Wheel
        NYT; FILE PHOTO  -  697 words
      • Article
        Lock icon Mitsubishi, Volvo to develop, sell trucks: report
        272 11 Bloomberg [TOKYO] Mitsubishi Motors Corp will jointly develop trucks with Volvo AB, the Sankei newspaper reported yesterday, in a move analysts bet could lead to the Swedish company taking a stake in Japan's No 4 carmaker. The partnership will include the marketing and
        Bloomberg  -  272 words
      • Article
        Lock icon MBf says restructuring plan rejected
        225 11 Reuters [KUALA LUMPUR] Malaysian property and financial services group MBf Holdings Bhd said yesterday that its creditors had rejected some elements of its restructuring proposal. J MBf Holdings said in a statement to the Kuala Lumpur Stock Exchange (KLSE) that it would undertake further negotiations
        Reuters  -  225 words
      • Article
        Lock icon Glaxo seen seeking merger to expand R&D
        453 11 It had tie-up talks with Bristol-Myers Squibb: reports Bloomberg [LONDON] Glaxo Wellcome Pic, the world's No 3 drugmaker, is seeking to merge with a rival to bolster its research and add the kinds of billion-dollar pills that Pfizer Inc and Warner-Lambert Co sell,
        Bloomberg  -  453 words
      • Article
        Lock icon Sumitomo expecting huge losses from restructuring
        402 11 Reuters [TOKYO] Major Japanese trading house Sumitomo Corp said yesterday it expects to post special losses of 145 billion yen (Ss2.l billion) in the business year which ended this week as it slims down its business in the face of recession. The announcement comes
        Reuters  -  402 words
      • Article, Illustration
        Lock icon Mitsui OSK to cut 24% of workforce in two years
        351 11 Job cats are partly doe to acquisition ofNavixLine Bloomberg [TOKYO] Mitsui OSK Lines Ltd, Japan's second-largest shipping company in terms of revenue, will slash about 24 per cent of its 2,100-strong workforce by March 2001, said president Masaharu Ikuta at
        Bloomberg; FILE PHOTO  -  351 words
    • ACQUISITION OF ARCO
      • Article
        Lock icon Coast-to-coast US reach for BP Amoco now
        563 12 Arco has leading market share in five western states and owns two refineries Reuters [LONDON] BP Amoco's US$26.B billion (5546.2 billion) purchase of Atlantic Richfield (Arco) gives it coast-to-coast retail reach for the first time in the US, the world's largest oil market.
        Reuters  -  563 words
      • Article, Illustration
        Lock icon Praise for BP Amoco's 'Neutron John'
        229 12 Reuters {LONDON] "Call him Neutron John: he savages cost bases but leaves the assets standing," the Financial Times wrote in its Lex column this week. In charge since 1995, John Browne rescued BP from the doldrums and then, after the audacious merger with Chi-cago-based
        Reuters; REUTERS  -  229 words
      • Article
        Lock icon Planned merger worries California oil traders
        398 12 Reuters [LOS ANGELES] California oil traders and analysts on Thursday said they were concerned that the US$26.B billion (5546.2 billion) planned merger of BP Amoco pic and Atlantic Richfield Co (Arco) would put too much power over prices in the combined company's hands. The
        Reuters  -  398 words
      • Article
        Lock icon Working fast to seal US$33b deal
        308 12 Bloomberg [LONDON] By late November, Atlantic Richfield Co (Arco) chairman Mike Bowlin was fighting oil prices at a 12-year low near US$ll a barrel and a share price for the No 8 US oil company that had fallen 23 per cent in a year.
        Bloomberg  -  308 words
    • Article
      BT SHARE INFORMATION SERVICE
      3991 12 Net earn IPS NOL Mar 31 P 438J6L 297.30L 68. «L Data TY LY TY LV Netlteei Elec Mar 3 P (UN MSN 77.1 tU Cawpsay mm Itm) (Sm) (cts) (eta) Mppecraft Mar 2 P 4J16 0*i6t 140 02L Nat Broadway Mar 18 P 24.173 17.47J
      3,991 words
    • FINANCE & COMMODITIES
      • Article
        Lock icon Top 25 US mutual funds rake in net US$26b
        604 13 Rest of 2,705 stock fnnds suffer USss.sb outflows, mimicking the stock market Bloomberg [BOSTON] The US mutual fund business is going the way of the stock market. All the money is going to a handful of top performers. In the first
        Bloomberg  -  604 words
      • Article, Illustration
        Lock icon Laughing all the way from the ATMs
        391 13 Survey shows US banks reap US$2 Jb a year just in ATM surcharge fees Bloomberg [WASHINGTON] A consumer group survey estimates banks reap more than US$2.l billion (553.6 billion) in revenue annually from so-called ATM surcharge fees. The finding by the US Public
        Bloomberg; FILE PHOTO  -  391 words
      • Article
        Lock icon Marsh & McLennan's Putnam buys 10% of Nippon Life unit
        353 13 Marsh McLennan's Putnam buys 10% of Nippon Life unit Bloomberg [TOKYO] Marsh McLennan Cos' Putnam Investments Inc acquired a 10 per cent stake in Nissay Asset Management Corp, the fund-management arm of Nippon Life Insurance Co, to grab a bigger slice of Japan's more than US$lO trillion (5517.2 trillion) retirement
        Bloomberg  -  353 words
      • Article
        Lock icon Goldman to use rivals to sell its IPO
        249 13 Reuters [NEW YORK] Goldman Sachs Co, the US investment bank that plans to go public in May, will enlist many of its rivals to help it sell its huge stock offering to investors worldwide. Goldman is expected to lead-manage the offering itself,
        Reuters  -  249 words
      • Article
        Futures up on Taiwan stocks rally
        156 13  -  MSCI Taiwan fixtures Vincent Ngiam Refco Singapore THE Simex MSCI Taiwan Stock Index Futures closed higher again with a gain of 8.8 points to settle at 322.9 in the April contract. Buying interest from Taiwanese retail investors with optimism about good performances in the
        156 words
      • Article
        Lock icon Dutch pension funds offer US$2b to buy NIB
        472 13 But bank's minority shareholders say offer's insufficient Bloomberg [AMSTERDAM] ABP and PGGM, the Netherlands' largest pension funds, offered US$2.O4 billion (553.5 billion) to buy Nationale Investeringsbank NV, a price that minority shareholders of the state-controlled Dutch corporate lender and investment bank called
        Bloomberg  -  472 words
    • REGIONAL MARKETS, WORLD MARKETS & COMMODITIES
      • Article
        Untitled
        1236 14 PRECIOUS METALS WWOffVM) MaFTl »W« 279.70/ 280.30/ 280.00 28O60 Hon#om 279.20/ 280.00/ 279.70/ 280.50 London 279.60/ 280.20/ 280.10 280.70 Afar 30 Jfor 5/ MowYflrt 279.10/ 279.80/ 279.40 210.10 GOiD PHYSICALS /ft) C«Ji}|U| Binrtnn sfiaa BBES WlOtar *****.59 ***** IpKoMQI*) 24.72 K SfR 90.64 78 172.01 86 20*1 333.72 311 509*
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        Lock icon TAIPEI
        345 14 AFP Hwpfatat ♦M3J3 TAIWAN share prices surged 3 per cent higher yesterday to their highest level this year on strong buying by foreign investors and sharp gains in the Japanese stock market, dealers said. "Sentiment was bullish on the back of continuous strong buying by foreign investors," said Peter
        AFP  -  345 words
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        Lock icon TOKYO
        1561 14 AFP □gMg -3737 SHARE prices in Tokyo closed down 0.2 per cent yesterday on profit-taking, with investors taking advantage of earlier gains in leading issues. The Nikkei 225 index declined 37.37 points to end at 16,290.19, after rising to an intraday high of 16,453.50. An estimated turnover of 614
        AFP  -  1,561 words
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        Lock icon BANGKOK, SEOUL, TORONTO & NEW YORK STOCK MARKETS
        2230 14 BANGKOK, SEOUL, TORONTO NEW YORK STOCK MARKETS AFP AFP SET Index *&25 THAI share prices wei'e virtually flat yesterday, gaining 0.25 point in thin trade and some late bargain hunting, dealers said. The Stock Exchange of Thailand Composite Index closed at 357.10, off a high of 358.62 and a low
        AFP  -  2,230 words
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      877 11 ANA HOTELS SINGAPORE LTD. (Incorporated in the Republic of Singapore) The Directors announce the unaudited results of the Company for the year ended 31 December 1998. IMB 1997 W- (SS) la TURNOVER 25,325,105 34,011,100 25.5b INTEREST INCOME 2f,M 65,500 58.92a OPERATM6 PROHT before Income Tax and Extraordinary Item, but after
      877 words
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      659 13 ITT Hp! C TT NpilC TT NP! I TT NC! tC TT N|~IIC TT NCI jC TT lii .L.i-'-i-j» X i liLWj.. Li i ILW-J«1. i I iljm.j. X I nLW-jaXi i !l.W'j »X ill HEMS.IT tIEWS.IT MEWS.IT iIEUS.IT fIEUS.IT MEWS.IT IT riEUSi.IT fIEUS.IT fIEUS.IT fIEUS.IT fIEUS.IT fIEUS.IT TT Kir*"
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      638 13 IN THE MATTE® OF THE COMPANIES ACT CAP. St AND IN THE MATTES OF C-PJ DKVH/lfMgvr corporation rrr im (la Miabin Vilntu? I ipHrtii) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 2 Hav clock. Road #07-07 Apollo Centre, Singapore *****3, on die 2nd
      638 words
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  • KUALA LUMPUR STOCK MARKET
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      8661 15 Transaction date :Apr2 I BtOUSntiALS C—Mr prefects 1999 Last Vol Ouy Nat Cap High Law Cimpany Sa>a '000 Htgk L— P/I tmW 310 255 Ajinomoto 270 5 2 270 270 14.9 109.4 83 46 Angkasa 60 9 13 64 58.5 88.5 283 220 Apollo Food Hlg 220 7.7 S8.0 204
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      Lock icon Sentiment soars on Malaysian debt upgrade
      400 15 AFP, AFX-Asia n Composite Index +12.51 MALAYSIAN share prices closed 2.4 per cent higher yesterday on follow-through buying after the bourse rallied a day earlier, dealers said. The KLSE Weighted Composite Index rose 12.51 points to finish at 540.07, while the Second Board Index
      AFP,; AFX-Asia  -  400 words
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      31 15 Classified First. Want to pick up a new hobby? Or simply join the paper chase? Lesson number Check The Straits Times CATS. 1 Buy It. S«fl h. Find It. 1 <J
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    1998 CORPORATE EARNINGS... FROM A TO Z
    1826 16 Overwhelmed by the 1998 corporate results? Try BTs light-hearted wrap-up of the reporting season which ended on Wednesday. We sum it up for you using the 26 letters of the alphabet A AA is for Aces, the 56 companies which reported higher full-year
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