The Business Times, 19 June 1999

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Total Pages: 20
1 20 The Business Times
  • 13 1 OTE BUSINESSTlMES MITA(P) 04(V 12/98 85c SINGAPORE Internet: http://business-times.asial.com.sg/ SATURDAY, JUNE 19, 1999
    13 words
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  • 73 1 FOBZIilBB IB) St U8I- 1.797 £(US$/Slper£) lJM 1718 ELM)(USS/Sf per E) 1.IM 1.788 DM L899 UN YEH lift* 1.431 RM 1999 0.449 HKI 7.718 0.220 BAHT 9M? 0.948 KiPIAH 7J49 9.024 •89*MwUt» ruSjjEa SINGAPORE* 5.83 K1 ALA LUMPUR 7.26 JAKARTA 40.68 BANGKOK 1«M 11.0 8.25 TWPHL. 8 07 SttHEf
    73 words
  • 826 1  -  Move to fund growth opportunities, reduce debt and diversify investor base Ryi Conrad Raj [SINGAPORE] Barely a month into his new job, Neptune Orient Lines' president and CEO Flemming Jacobs has moved quickly to strengthen the company's finances and fund new growth
    CHRIS LOH  -  826 words
  • 361 1  -  SES says it is only a review; HE dollar stocks sparkle By. R Sivanithy [SINGAPORE] Amidst continued interest in foreign currency stocks yesterday, it was the Hongkong dollar issues that shone in yet another hectic trading day. Brokers said trading
    361 words
  • 685 1  -  Analysts upbeat despite signs of slowing home sales By. Ang Wan May [SINGAPORE] Despite signs of slowing home sales, analysts and brokers expect residential property prices and stock values to continue their climb, with several putting the gain at about
    685 words
  • Page 1 Advertisements
    • 160 1 nmPB Analysts should really test out i-One's electronic kiosks before touting the IPO, says Catherine Ong, If 11 AmMjaux at Una* Malaysian Prime Minister Mahathir Mohamad did not deliver the surprise he promised yesterday but waded into his former deputy Anwar Ibrahim in a stronglyworded speech at the general assembly
      160 words
    • 11 1 Market reports, Pgs 16-20 Hiap Seng's IPO debut t140%fl Page 11
      11 words
    • 62 1 Motor traders upset by emission Mr h /Jl^M rage 10 !i» I S/S/U//J /Stftf -mwk ■/I -■11 ■II *^H J The J&" i., Heir to a proud watchmaking tradition 65/737 64 51. Fax 65/235 82 00. Dickson shops: The Centrepoint. shops: Lucky Raffles City. Paragon \Xatch Ngee For more information:
      62 words

  • SINGAPORE AT HOME & ABROAD
    • 471 2  -  Manufacturing pick-up in Q1 fuels optimism among economists polled By, Audrey Tan ECONOMISTS expect Singapore's non-oil exports to have surged 11.5 per cent in May, as a buoyant trade recovery looks set to lead to strong second-quarter economic growth. A BT
      471 words
    • 267 2 SINGAPORE cannot resort to cutting Central Provident Fund contributions "regularly", as the CPF is a blunt instrument which affects both healthy companies and poor performers, the National Trades Union Congress (NTUC) said yesterday. Instead, a monthly variable wage component (MVC) would
      267 words
    • 304 2  -  Bank talking to 1,000 S'pore firms about joining e-commerce service By' Toh Han Shih DBS Bank and bex.com, a Singapore electronic commerce firm, are aiming to get more companies to make use of ecommerce. DBS is talking to 1,000 firms in Singapore to
      304 words
    • 881 2  -  EYE ON THE ECONOMT By* Anna Teo THE "bad news" first the great Japanese economic turnaround in the first quarter is but a statistical mirage. The not-so-bad news all's not lost, however, for the Asian economies looking to Japan to boost their recovery
      881 words
    • 120 2 ENG Lim Construction has won a $49.8 million deal to be the main contractor in building Maybank's headquarters in Battery Road. The 32-storey building, with a gross floor area of 15,740 square metres, will cost $110 million and will be completed in 2001.
      120 words
    • 550 3 Association says it never agreed to a rate freeze and wants a free market Reuters A CONTROVERSIAL rate freeze agreement in Singapore's fire insurance market works against customer interests and should be removed, the Singapore Insurance Brokers' Association (Siba) said yesterday. "As
      Reuters  -  550 words
    • 543 3  -  It expects to get 20% of fixed line market 3-5 years after starting services Hy David Boey WITH just 285 days to go before its commercial launch on April 1, Star Hub Singapore's newest info-communi cations company unveiled its corporate identify amid much fanfare yesterday
      543 words
    • 198 3 TO streamline the business and company registration process for foreigners, a new procedure will be implemented on Monday, the Registry of Companies and Businesses and the Ministry of Manpower said yesterday. Under the new procedure, a foreigner who intends to become a business owner cum manager
      198 words
    • 290 3  -  Byy Christopher Tan [SINGAPORE] After an absence of several months, Rover is back. The new agent. Rover Singapore, opened for business yesterday with the unveiling of the Rover 75 the world's first showroom launch of the car. "The UK (Rover's home market) is launching
      CHRIS LOH  -  290 words
    • 210 3  -  MAILBAG Chia Shi Teck Executive chairman Heshe Holdings I REFER to your report "Thumping Sesdaq gains put blue chips in the shade" (BT, June 17). I was surprised to read that Heshe was classified in your article to be one in financial trouble and needing "rescue". This
      210 words
    • 249 3  -  Goh Chyan Pit, Manager. DBS Bank WE refer to your article "Brokers expect hot reception to 1-One.Net IPO" (BT, 16 June). The article quoted various figures in respect of the number of i-One booths that the i-One.Net group has installed to date and plans to install
      249 words
    • 165 3  -  John Khew Singapore I WAS shocked to receive a letter from the Company Secretary of Gold Bridge Engineering Construction Berhad (KLSE) which had as its agenda of its EGM an item stating "that no allotment be made in favour of, and no provisional letter
      165 words
  • Page 2 Advertisements
    • 1086 2 Indian Bank I (Wholly-Owned by Government of India) Head Office: 31 Rajajji Salai, Chennai 600 001, India BALANCE SHEET AS AT 31 ST MARCH 1998 AND PROFIT LOSS ACCOUNT FORTHEYEAR ENDED 31ST MARCH 1998. Capital 1 2403,96,00 653,96,00 INCOME Reserves and surplus 2 399,08,33 403,55,10 Interest earned 13 1464,21,45 1563,16,43
      1,086 words

  • Page 3 Advertisements
    • 400 3 Network Solutions Sector (NSS), South Asia Division Our Vision: To be the global leader of end-toend wireless network solutions to operators and service providers worldwide for all their telecommunications needs. Motorola's Network Solutions Sector is responsible for the manufacturing, sales and integration of Motorola's cellular infrastructure. The group works closely
      400 words

  • ASIA ON THE MEND
    • 760 4  -  Changing to fixed exchange rate would hurt economy, reforms: Fischer FYom\ Shoeb Kagda in Jakarta THE International Monetary Fund yesterday reiterated its opposition to a fixed exchange rate for the rupiah with its first deputy managing director Stanley Fischer noting that the existing flexible exchange
      REUTERS  -  760 words
    • 584 4 Reuters [TOKYO] The Japanese government is seeking more cost-effective means of boosting the economy, choosing for now to shun its pork-barrel tendencies of yore, and intervening in foreign currency markets may be one such method. "The government has been adopting a variety of
      Reuters; FILE PHOTO  -  584 words
    • 290 4 Reuters [SEOUL] South Korea yesterday reinforced its commitment to economic reform but offered a 2.02 trillion won (552.96 billion) package to support ordinary workers whom it acknowledged had borne the brunt of the country's financial crisis. "Faithful implementation of restructuring plans remains the
      Reuters  -  290 words
    • 172 4 Reuters [JAKARTA) Indonesian shares surged almost 4 per cent yesterday as the key composite index closed above the 700-point level for the first time since August 1997. Confidence increased ahead of the completion of the vote count from last week's election amid encouraging statements
      Reuters  -  172 words
    • 578 4 Effects on health, labour and education widespread: experts AFP (MANILA] Asia's currency crisis could leave widespread social effects on education, health and human resources even after regional economies recover, experts warned yesterday. "The social crisis is deeper than the financial crisis," warned Lee
      AFP  -  578 words
    • 439 4  -  Agency revises its outlook for Bank of Ayudhya to stable From Harish Mehta in Bangkok INTERNATIONAL ratings agency Standard Poor's yesterday revised the outlook for Bank of Ayudhya (BAY) from negative to stable in a move analysts said could foreshadow similar
      439 words
    • 227 4 Reuters [KUALA LUMPUR] Kuala Lumpur City Corporation Bhd said it does not rule out rescuing more than one brokerages now under the control of government restructuring agency, Danaharta Nasional Bhd, the daily Sun said yesterday. It quoted the chief executive of Kuala Lumpur
      Reuters  -  227 words
  • Page 4 Advertisements

  • THE REGION
    • 833 5  -  Dr M's promised surprise fails to materialise; no word on 'hot' topics like election date fiYom Eddie Toh in Kuula Lumpur MALAYSIAN Prime Minister Mahathir Mohamad did not deliver the surprise he promised yesterday but waded into his former deputy Anwar Ibrahim in a strongly-worded
      833 words
    • 406 5 KUALA LUMPUR EL won't folly lift capital controls until sufficient global reforms are in place Bernama AFX-Asia PRIME Minister Mahathir Mohamad is confident that Malaysia and Singapore will be able to resolve the ongoing Central Limit Order Book (Clob) issue as both
      Bernama; AFX-Asia  -  406 words
    • 580 5 KUALA LUMPUR They are agents trying to incite trouble: Razaleigh Bernama JUST as Prime Minister Mahathir Mohamad was warning Malaysians of attempts by foreigners to meddle in Malaysian affairs, a Singapore daily has seen fit to suggest that Malaysia would be better off
      Bernama  -  580 words
    • NOTE Book
      • 122 5 Reuters [BANGKOK] Thai Prime Minister Chuan Leekpai said yesterday that there were differences among members of his seven-party coalition over a cabinet reshuffle expected later this month but that he would try to minimise the problems. Members of the Chart Pattana and Social Action
        Reuters  -  122 words
      • 81 5 Reuters [KUALA LUMPUR] Brunei authorities have closed down 10 restaurants in the past week following an outbreak of cholera that has struck more than 70 people, local media reported yesterday. Authorities ordered the restaurants, mainly in Gadong and the capital Bandar Seri Begawan, temporarily shut
        Reuters  -  81 words
      • 110 5 Bridge News [BANGKOK] The Thai Bankers' Association, representing all the 13 banks in Thailand, decided on Thursday to set up the country's first-ever centre of borrowers' credit data, to be called the Credit Bureau, according to a statement issued late on Thursday.
        Bridge News  -  110 words
      • 73 5 Reuters [SHANGHAI] China's biggest securities mutual fund, the Anshun Fund, will list on the Shanghai stock exchange next week, the Shanghai Securities News reported yesterday. The fund, with a value of three billion yuan (Ss6l7 million), will list on Tuesday, the official newspaper said.
        Reuters  -  73 words
    • 531 5 KUALA LUMPUR Reuters MALAYSIAN Prime Minister Mahathir Mohamad was told six years ago that his former deputy Anwar Ibrahim had had sexual relations with two individuals including a man, a former police chief said yesterday. Former inspector-general of police (IGP)
      Reuters  -  531 words
    • 377 5 SHANGHAI AFP MOODY'S Investors Service has discounted China's chances of successfully reforming its debt-troubled trust and investment companies, the so-called Itics, despite strenuous efforts to trim down and restructure the sector. The New York-based ratings agency said in a report received here yesterday
      AFP  -  377 words
    • 253 5 JAKARTA Ghalib's civilian deputy Ismudjoko made interim AG AFP INDONESIAN President BJ Habibie has bowed to public pressure by appointing a civilian lawyer to replace attor-ney-general Andi Ghalib, who is facing a corruption probe, the Antara news agency reported yesterday. Deputy attorney-general Ismudjoko was named interim
      AFP  -  253 words
    • 162 5 MBANGKOK Bloomberg THE sale of Thailand's stateowned Radanasin Bank Pel will be delayed by a month to give four foreign institutions more time to assess the lender, said central bank deputy governor Kitti Patpongpibul. Final offers for Radanasin, the nation's smallest bank,
      Bloomberg  -  162 words
    • 347 6 TOKYO AFP A REGIONAL Japanese bank yesterday admitted it was in a poor financial state as Japan's financial watchdog focused on the bank as its next target for reform. Namihaya Bank, based in Osaka, said its consolidated capital-to-asset ratio fell to minus
      AFP  -  347 words
    • 330 6 TOKYO AFP SWISS banking giant Credit Suisse group will sack up to 10 staff from its Tokyo operations in the wake of an investigation by Japanese financial authorities, a source said yesterday. Japan's Financial Supervisory Agency has been investigating the
      AFP  -  330 words
    • 137 6 TOKYO Reuters TOKYO Governor Shintaro Ishihara met with a senior official from the US National Association of Securities Dealers Inc (NASD) this week to seek help in setting up a junk bond market, a Tokyo metropolitan government official said yesterday. Soji Suzuki, a counsellor
      Reuters  -  137 words
    • 502 6  -  Info-communications industry gains from deregulation and now accounts for 12% of GDP Prom, Anthony Rowley in Tokyo JAPAN'S info-communica-tions industry is growing at an explosive rate and has surpassed traditional industries in terms of its contribution to national output, according to
      502 words
    • 67 6 [SEOUL] Members of the cast and crew that made on the successful South Korean film, 'Swiri yesterday holding posters of the movie as they join a rally in Seoul. Some 200 South Korean film actors, actresses and film directors demonstrated on the main street in Seoul
      AFP  -  67 words
    • 281 6 SEOUL With cut, It won of stocks set to flood market in Jnly Bloomberg SOUTH Korea will further shorten the seven-year period that employees must hold company stock issued to them as options or bonuses, making it easier for them to realise gains from
      Bloomberg  -  281 words
    • 545 6 SEOUL It's a tactic to avoid structural reform, analysts say Bloomberg SOUTH Korea's Fair Trade Commission (FTC) says the nation's conglomerates are continuing to shuffle funds between healthy and unhealthy units, in what analysts say is another tactic to avoid structural reform. Units of
      Bloomberg  -  545 words
    • 270 6 NEW DELHI AFP INDIA and China, two Asian giants with a history of troubled relations, do not pose a threat to each other, Foreign Minister Jaswant Singh said yesterday. "I have no difficulties to repeat it today: India is not
      AFP  -  270 words
    • ASIA Notes
      • 70 6 Reuters [NEW DELHI] India will hold elections in autumn despite fighting in the divided Himalayan region of Kashmir, Home Minister Lai Krishna Advani said yesterday. "The elections will be held as per schedule. It does not matter even if the military strikes (in Kashmir)
        Reuters  -  70 words
      • 76 6 AFP [SYDNEY] Australia's Federal Court yesterday dismissed a class action lawsuit involving scores of people who claimed they became ill last year from drinking contaminated Sydney water. In what was seen as an internationally embarrassing incident in the lead-up to the 2000 Olympics, Sydney's three
        AFP  -  76 words
      • 70 6 AFP [PORT MORESBY] Investigators yesterday scoured the remote site of a plane crash in Papua New Guinea that left all 17 on board dead, as officials confirmed three Australians, four Koreans and two Dutch nationals were among those killed. The twin-engine turbo-prop Bandierante aircraft operated by
        AFP  -  70 words
      • 37 6 AFP FRAMINGH AM, Massachusetts] Sales of personal computers in the Asia-Pacific region, excluding Japan, jumped by 25 per cent in the first quarter, an International Data Corporation survey said on Thursday.—AFP
        AFP  -  37 words

  • Page 6 Advertisements
    • 516 6 LI BAG THE BE *T BUYS of the century grand lucky draw WIN 3 MITSUBISHI CARS PLUS UP TO $60,000 WITH VISA* *UUS a KGULAHONS A minimum purchase of $20 in one receipt from any CSS grand draw participant entitle* you to one chance at the lucky draw 2 Only
      516 words

  • THE WORLD
    • 256 7 COLOGNE Reuters US President Bill Clinton said yesterday he was "thrilled" by the recent strong showing of the Japanese economy, calling it a tribute to the Tokyo government's economic reforms. Mr Clinton, speaking as he met Japanese Prime Minister Keizo Obuchi ahead of the G-7 (Group
      Reuters  -  256 words
    • 269 7 LONDON Reuters HEDGE fund activity in global financial markets may be on the rise, fuelled by a new willingness by banks to extend credit, a report by the Bank of England said yesterday. The BOE's Financial Stability Review, which monitors the stability of
      Reuters  -  269 words
    • WORLD Watch
      • 102 7 Bloomberg [NEW YORK] Long-Term Capital Management, which lost more than US$4 billion (Ss6.B billion) last year, plans to repay its original clients "in the near future", according to a letter to investors. The hedge fund founded by former Salomon vice-chairman John Meriwether will also return
        Bloomberg  -  102 words
      • 85 7 AFP [LONDON] British Prime Minister Tony Blair has ordered a two-year delay in the referendum on joining the euro after his ruling Labour party's mauling at last week's European elections, it was reported yesterday. He believes he needs longer to swing hostile public opinion
        AFP  -  85 words
      • 70 7 Reuters [BRUSSELS] The health scare over Coca-Cola soft drinks bottled in Belgium and France spread further yesterday as Spain withdrew 390,000 bottles of Coca-Cola from sale. Spanish media reported the withdrawal in six Spanish regions of the drinks imported from Belgium, just as Coca-Cola
        Reuters  -  70 words
      • 95 7 Reuters [COPENHAGEN] Inflation in the European Union has been defeated and focus must now be turned to bringing the unemployment rate down, French Prime Minister Lionel Jospin said yesterday. "Inflation has been conquered, it has been contained. In Europe we must now give priority
        Reuters  -  95 words
    • 518 7 THE G-7 SUMMIT Move to wipe out 70%, or USs9ob, of USsl27b owed; aid to be tripled to USssob Bloomberg Reuters [COLOGNE, Germany] The Group of Seven leading industrial nations agreed on a plan to slash tens of billions of dollars
      Bloomberg; Reuters  -  518 words
    • 239 7 LONDON Reuters, Bloomberg HUNDREDS of shouting protesters, many on bicycles, gathered outside London's Bank of England yesterday as the central bank became the focus of a day-long protest against capitalism. Earlier, some 300 cyclists disrupted traffic in London's financial heartland. Carrying banners with slogans like "Money
      Reuters,; Bloomberg  -  239 words
    • 361 7 DENVER Productivity growth may be long-lasting amid investment rise Reuters, Bloomberg THE US economy is expected to grow 3 per cent in 1999 with moderate inflation, Kansas City Federal Reserve Bank president Tom Hoenig said on Thursday night. "On the
      Reuters,; Bloomberg  -  361 words
    • 676 7 CHICAGO Markets celebrate Greenspan testimony with big gains Bloomberg CHRISTMAS is still six months away, but Alan Greenspan went up to Capitol Hill bearing gifts. For the bond market, the Fed chairman had a cute, fuzzy teddy bear, wrapped in colourful paper and tied
      Bloomberg  -  676 words
    • 61 7 [NEW YORK] A brooch called "Liberty by Dutch artist Gijs Bakker is one of 71 brooches on display at the American Craft Museum in an exhibition entitled "Brooching It Diplomatically: A Tribute to Madeleine K Albright." Sixty-one artists from 61 countries were invited to design brooches
      AFP  -  61 words
    • 452 7 LONDON Stronger yen would hinder Japanese recovery: analysts Bloomberg THE yen fell against the dollar and euro yesterday as the European Central Bank (ECB) said it intervened on behalf of the Bank of Japan to halt a rally in the Japanese
      Bloomberg  -  452 words
    • 311 7 GENEVA Reuters ENVOYS from the World Trade Organisation failed yesterday to break the impasse over who will lead the global watchdog and will meet again in early July, trade officials said. "We agreed on the need for further consultations
      Reuters  -  311 words

  • WORLD CUP CRICKET
    • 788 8  -  It is fitting that two teams so twinly embroiled in last year's bribery scandal now meet in the final, writes Pi SHAHIRON SAHARI SHAHIRON SAHARI SUDDENLY, it's like we're back in 1996 again. Spirited team from the Indian sub-continent enjoying the bulk of crowd
      788 words
  • Page 8 Advertisements
    • 457 8 Whereto wine, dine and entertain.. a— Cafe Plaza (20 June) Japanese Food 8t Dessert Buffet Promotion $25 (Adult), 50% discount (Child) Receive a complimentary bottle of white or red house wine if 4 more adult family members join the celebration OR when you bring your Mother's Day Cafe Plaza buffet
      457 words
    • 67 8 'Rallramn Dancing, AT THE NEPTUNE Set your night on fire. Tango. Waltz, Qw Gbfl or Rock Roll every w y«4 Wednesday nigbt as you dine on our seafood sertings uitb d complimentary glass of > o/ wine and stand a chance to win vl attractive prizes weekly. Every Wednesday, 7pin
      67 words

  • EXECUTIVE LIFESTYLE
    • 863 9 ART Reuters [AMSTERDAM] Few art lovers can fail to be familiar with the tragedy of misunderstood genius, madness and death that underpins the work of Vincent van Gogh. But the popular mythology surrounding one of the most influential painters of the last century affords
      Reuters; FILE ART  -  863 words
  • Page 9 Miscellaneous
    • 1850 9 CRYPTIC CROSSWORD VIMMI E 5 I E H F i 1 Contribution from the same country (8) lH| 5 A way to confront the queen Hk IH—-JH 9 Fellow airman escorted in LnJ shackles 11 Briefly, it's a popular drink H H H H Hi Hh 12 Oriental warlord carries
      1,850 words

  • MOTORING
    • BUMPER to BUMPER
      • 66 10 THE Land Transport Authority has been honoured with the "Outstanding Smart Card Application" award for its electronic road pricing system. The award was given out by the Smart Card Industry Association, in recognition of the LTA's use of contact smart card technology for the ERP
        66 words
      • 83 10 RENAULT agent Exklusiv Auto has launched the new Megane Classic. The car has been given a facelift, Inside and out. A 1.4-litre variant will compete with established choices such as the 1.3-1.5-litre offerings from Toyota, Nissan and Mitsubishi. The smaller 16-valve engine packs 105 horses
        83 words
      • 85 10 BMW has won this year's Le Mans 24 Hour. Its Vl2 LMR finished the gruelling event over the weekend after completing 366 rounds on the 13.6 km circuit—a new record. The six-litre, 580-horsepower car was driven by Pierluigi Martini, Yannick Dalmas and Joachim Winkelhock.
        85 words
      • 130 10 THE Nissan Sunny could well become this year's top-selling model. Distributor Tan Chong has already sold out its first shipment of over 500 new Sunny VIP cars, and sources say it has bookings of over 1,000 units. While the Sunny has long been one of
        130 words
      • 58 10 FORD Motor Co has launched a tender offer to buy Automobile Protection Corp, a provider of extended service contracts, for US$lBO million (Ss3o6 million). According to Reuters, the Atlanta-based company has 200 workers. Ford, which has been diversifying into other transportation and consumer-related
        58 words
      • 68 10  -  Compiled by Christopher Tan JAGUAR Cars posted its best monthly sales in May with 7353 cars. It attained the all-time high on the back of the new S-Type. Worldwide May sales were nearly 70 per cent higher than in the same period last year. Jaguar
        68 words
    • 581 10  -  Sources say 60% of non-European cars will be knocked out; ministry urged to extend deadline to April 2001 By I Christopher Tan [SINGAPORE] Nearly 60 per cent of non-Euro-pean cars currently imported here will not pass a new emission ruling, motor trade sources
      FILE PHOTO  -  581 words
    • 237 10 [SINGAPORE] Businesses with fleets of commercial vehicles will face substantially higher inspection fees soon. BT understands the authorities are recommending new emission tests that closely reflect real driving conditions. And vehicle inspection companies will soon be investing in chassis dynamometers, each costing $140,000$200,000. These
      237 words
    • 1086 10 Average open market value of cars registered in May 1999. MOOEUMADE OC AVEOMVfc) MOOEL/MAOf OC AVE 0MV($) 1590 38.106 NBSAN WMQROO 4AO 1,407 ***** AUDI A4 1.6 A ***** MOOAN SUWY1 -5 A 1,496 ***** ALU AfS 24 A 2393 ***** MSSAN SUM* 1.5 M 1.488 13,436
      1,086 words
  • Page 10 Advertisements
    • 70 10 .♦<•« mate- Sr f* i, .V HAny 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
      70 words
    • 4 10 brought to you by
      4 words

  • COMPANIES & MARKETS
    • 906 11  -  Major changes seen in shareholding structures of some small-cap companies By Ven Sreenivasan [SINGAPORE] If you thought you knew the controlling shareholding structures of most listed companies here, think again. Shareholding structures in more than a dozen smallcap companies have
      906 words
    • 175 11  -  By\ David Boey [SINGAPORE] Three new services that Singapore Telecom plans to roll out for its fixed lines subscribers could help the telco double revenue from its value-added services within five years. Hui Weng Cheong, vicepresident for consumer products, said yesterday that SingTel should
      175 words
    • 271 11  -  ON IPO TRAIL IPO stock, priced at 28 cts, hits 69.5 before ending at 66 By. Annette Pau (SINGAPORE] Lucky investors who got a slice of Hiap Seng Engineering's initial public offer would have more than doubled their capital outlay had
      FILE PHOTO  -  271 words
    • 297 11  -  By\ Rahita Elias [SINGAPORE] Lee Hwa Holdings' public offer tranche of 5.18 million shares has been subscribed 199 times. When the offer closed at noon yesterday, the company had received 91,432 applications for a total of 1.03 biltlon shares. Application monies received totalled some
      297 words
    • 976 11  -  HOCK LOCK SIEW Catherine Ong IF you are a niche player in the cut-throat printing business, how do you get high-flying valuations for your stock? Answer: change your name to i-One.Net and encourage the belief that you are a serious
      976 words
    • 464 11  -  By\ Rahita Elias [SINGAPORE] Branded goods retailer FJ Benjamin, which has secured the regional franchise for the Manchester United brand, expects to return to the black in the next financial year ending in June 2000. Frank Benjamin, FJ Benjamin's president and chief executive
      SIEW YAW HOONG  -  464 words
    • SINGAPORE & MALAYSIAN COMPANIES
      • 321 12  -  The new Boeing jets will replace its long-haul Airbus fleet By Felix Chan [SINGAPORE] Singapore Airlines has exercised options for 10 Boeing 777 jets valued at US$l.9 billion (553.24 billion) to replace its long-haul Airbus fleet. The 10 wide-body 8777-200 IGW (Increased Gross
        321 words
      • 350 12 Bloomberg [SINGAPORE] Investors wary of changes in foreign ownership rules have shed the Foreign shares of Singapore Airlines over the past month, narrowing the price difference between the Foreign and Local shares. The spread between the two share types of SIA fell to a nine-month
        Bloomberg  -  350 words
      • 192 12 [SINGAPORE] First Engineering has reported a 25 per cent rise in net earnings to $3.7 million for the year ended March 31,1999. This works out to earnings per share of 5.22 cents, up from 4.18 cents in the previous year when the precision moulds and
        192 words
      • 360 12  -  It's also claiming for unpaid amounts allegedly due By, Jennifer Lien [SINGAPORE] US-based graphics chip maker 3dfx Interactive Inc has sued its former customer Creative Technology for breach of contract and copyright infringement, following the two parties' unhappy split earlier this year.
        360 words
      • 216 12  -  By Eugene Low [SINGAPORE] Keppel Telecommunications and Transportation (Keppel T&T) and Singapore Telecom yesterday formed a joint venture to merge their business communications equipment distribution operations. The new company, Radiance Communications, is a 50-50 tie-up between Keppel Communications and Telecom Equipment. The partners have
        216 words
      • 590 12  -  Wrt sees volatile trade on its last day of trading yesterday FYom Ruth Wong in Kuala Lumpur PILECON Engineering Bhd warrants went on a wild roll-er-coaster ride in their death throes yesterday. Trading was highly volatile in mid-afternoon, before the counter settled down to
        Source: Bloomberg  -  590 words
      • 335 12 Bloomberg [KUALA LUMPUR] Shares of Malayan United Industries Bhd (MUI) group of companies were the most active on speculation Razaleigh Hamzah, a former finance minister and close friend of the companies' chairman, may play a bigger role in the nation's ruling political
        Bloomberg; FILE PHOTO  -  335 words
      • 223 12 Bloomberg [KUALA LUMPUR] Malayan United Industries Bhd (MUI), a Malaysian real estate and retailing company, may sell its remaining 8.14 per cent of Hongkong publisher, South China Morning Post Holdings Ltd, if the price rises. "If there is a bull run
        Bloomberg  -  223 words
      • 451 12  -  From l Carol Eng in Kunming, Yunnan TEXTBOOK publisher Pan Pacific Publications views China as its biggest market in the future and is opening the first phase of a 112 million renminbi (Ss23 million) building "with a book focus" in Kunming today. Xinhua Plaza is
        451 words
      • 205 12 [SINGAPORE] After generating much hope among investors, Freight Links yesterday said it has called off all talks with potential merger parties. The freight and logistics group, whose share price has been spiralling up in recent weeks, said it "has not been able to narrow
        205 words
      • 194 12  -  From Diana Oon Abdullah in Kuala Lumpur LITTLE-KNOWN businessman Robert Tan Hua Choon, the successful bidder for Kuala Lumpur-based Sime Securities, is injecting the business into listed company Malaysia Aica (Maica). Maica said yesterday that Mr Tan "will not receive any consideration" for
        194 words
      • COMPANY Briefs
        • 50 12 [SINGAPORE] Goldtron Ltd yesterday announced that it is holding a meeting with some of its unsecured creditors on July 14. The purpose of the meeting is to seek approval for a scheme of arrangement between Goldtron and its creditors which would resolve its outstanding liabilities.
          50 words
        • 39 12 (SINGAPORE] Sunright's Cheng Sui Yoong has resigned as general manager of the Asia-Pacific burn-in and test operations group with effect from yesterday. The company said he had also resigned as a director of certain undisclosed subsidiaries.
          39 words
        • 91 12 AFX-Asia [KUALA LUMPUR] The Kuala Lumpur Stock Exchange has fined and reprimanded two companies and ticked off one other for breaching listing requirements. Nanyang Press Holdings was fined 82,000 Malaysian ringgit (5536,826) and reprimanded for failing to make a timely announcement on two share
          AFX-Asia  -  91 words
    • INTERNATIONAL COMPANIES
      • 514 13 It buys oat former partners MCI-Worldcom, TVNZ and Todd Corp Reuters [WELLINGTON] British Telecom emerged yesterday with full ownership of New Zealand's second largest telecommunications company. Clear Communication, after setting out to buy just half. BT announced it was buying out its previously
        Reuters  -  514 words
      • 461 13 Bloomberg [TOKYO] A joint venture by Kobe Steel and Micron Technology. the No 1 maker of computer memory chips in the US, plans to become by September Japan s largest maker of the most commonly used computer memory chips.
        Bloomberg  -  461 words
      • 69 13 [SYDNEY] Activists protesting against damage done to the environment by global corporations outside Westpac Bank in Sydney yesterday. Groups all around the world are protesting while the G-8 nations meet in Koln. Germany, to further promote their vision of free trade and economic growth. Organised
        AFP  -  69 words
      • 406 13 A shift to Dell sales model, say analysts, citing revamp plan AFX-Asia, Bloomberg [SAN FRANCISCO] Compaq Computer Corp's restructure plan is an ambitious bid to shift its business to the direct sales model developed by Dell Computer Corp and improve its ability to
        AFX-Asia,; Bloomberg  -  406 words
      • 322 13 Bloomberg [NEW YORK] News Corp, the media company headed by Rupert Murdoch, has agreed to buy William Morrow Co and Avon Books from Hearst Corp. adding the businesses to News Corp's HarperCollins Publishers unit. The terms weren't disclosed. although Credit Lyonnais
        Bloomberg  -  322 words
      • 413 13 US carmaker's workforce can be cut by 40,000: industry study Bloomberg IDETROIT| General Motors Corp would need 40.000 fewer North American workers and save US$4.9 billion (SsB.4 billion) annually if its productivity and labour costs matched that of Toyota
        Bloomberg  -  413 words
      • 440 13 Reuters [PALO ALTO) HewlettPackard Co has narrowed its search for a new chief executive officer to three people, including company veteran Ann Livermore and two executives from outside the company, sources familiar with the search say. The new CEO, who will
        Reuters; FILE PHOTO  -  440 words
    • FINANCE & COMMODITIES
      • 562 14 Company reveals finances for first time; analysts say market value will top USs3ob if floated NYT Bloomberg [NEW YORK) Fidelity Investments sold US$l billion (Ssl.7 billion) in long-term debt on Thursday amid strong demand from institutions, which for the first time got a detailed
        NYT; Bloomberg  -  562 words
      • 427 14 Euro/USS: This week proved to be another disaster for the euro. The unit plunged to a low of 1.0287 on Wednesday from last Friday's close of 1.0530. Subsequently, euro/US$ rebounded slightly to trade around 1.0320 by yesterday morning. While near-term support is seen at the historical
        Source: DBS Bank  -  427 words
      • 326 14 Reuters (SYDNKY) Principal Financial Group, the eighth largest US life insurer, is now Australia's biggest retail funds manager after paying Deutsche Bank AG As2.l billion <552.4 billion) to acquire most of Bankers Trust Australia Group. The mutual company said yesterday it was
        Reuters  -  326 words
      • 263 14 AFP, Bloomberg [TOKYO) Japan's Daiwa Bank Ltd is to sell its branch offices in Hongkong to Bank of East Asia, under its plan to pull out of overseas operations. Japan's business daily Nihon Keizai Shimbun said. The Japanese bank is in the final stages
        AFP,; Bloomberg  -  263 words
      • Article, Illustration
        1256 15 nmBRBAMK CROSS RATES s A$ C Bmb E 0 Pni HKS Ind Rs Bupiah Yen Won KM HZS Pafc Bs Peso s$ Rand Sfr HT$ Baht Pound USS Australia 0.955 6.178 0.632 4.148 1.237 5.052 28.106 47.151 0.777 7.579 2.475 1.228 33.839 24.629 1.112 3.934 1.008 21.061 24.012 0.409 0.651
        1,256 words
      • 1818 15 SICOM FUTURES ***Zni8 RUBBER (futures dosing as it 5.30pm) RSS1 CONTRACTS centsAg) Close Volume Open Month High Low Sett (tonnes) Interest Jul 99 103.75 300 WO Auq 99 104.75 300 Sep 99 107.75 300 800 Oct/Dec 99 112.25 150 1050 Jan/Mar 00 117.00 300 Apr/Jun 00 120.50 RSS 3 CONTRACT
        1,818 words
      • 131 15  -  CTltffTrg Reports Singapore InHmr Edward Cheung, Jardine Fleming The MSCI Singapore Index opened higher yesterday after a speech overnight by Alan Greenspan, the US Federal Reserve chairman, to a Congress committee. His comments allayed fears of a succession of interest rate increases
        131 words
      • 269 15 ENERGY REPORT Reuters [LONDON] Profit-taking took the shine off a recent oil price rally yesterday but losses were curbed by concern that a Nigerian strike could eventually affect exports from Africa's biggest oil producer. Brent blend for August delivery
        Reuters  -  269 words
      • 277 15 Reuters [SINGAPORE] Chinese smelters are shipping some zinc to the United States due to its new policy to diversify following the Asian economic crisis, adding to tightness in the spot market here, traders said. "For the moment, we cannot see too much Chinese zinc
        Reuters  -  277 words
      • 337 15 Reuters London THE yen slumped against the euro yesterday, losing over three yen as the European Central Bank intervened selling yen for euros on behalf of the Bank of Japan. Analysts said intervention was triggered by a fall to lifetime lows in euro/yen. The yen had also been
        Reuters  -  337 words
    • 4897 14 Net earn CPS Noel Gifts Mar 31 I L399L 1.2621 2.11 1.9L Date TY LV TY LV NobelOesign Mar 30 P 1.334L 0.731 1.3L 0.73 Company ann ($m> ($m) (cts) (ct«> NobleGrp (US$) Mar 26 P 7.7271 0.206 3.2L 0.10 Oak well Mar 25 P 0.622
      4,897 words
    • 2385 16 LONDON Mwtrials Jw> PMM 3iGroup 7.32 unch Abbey National 13.06 0.20 A B Foods 4.45 0.01 A B Ports. 3.10 0.09 Alliance t Leicester 9.19 0.07 Allied Domecq 6.13 0.09 Allied Zurich 7.96 0.22 Anglo American Gold 43.70 unch ASDA Group 2.16 unch Bank of Scotland 9.24
      2,385 words
    • 1630 16 AFP Nikkei 225 -39.19 SHARE prices eased in Tokyo yesterday as profit-taking eroded their early gains following a surge on Wall Street amid receding concern about a large hike in US interest rates, brokers said. "Selling emerged in the afternoon, focusing on banks." said Mayumi Araki. a senior market
      AFP  -  1,630 words
    • Article, Illustration
      209 16 Shenzhen A Index +125 SHENZHEN'S domestic currency A shares closed a touch stronger yesterday as investors, heartened by a bullish Communist Party newspaper editorial, poured money into the longneglected mutual fund sector. The A share index edged up 3.25 points to 473.84 as turnover rose to 22 billion yuan
      Source: Credit Lyonnsis Securities(Asia) Ltd  -  209 words
    • KUALA LUMPUR STOCK MARKET
      • 458 17 AFP CI Composite Index -1.16 MALAYSIAN share prices ended 0.1 per cent lower yesterday in volatile trade on a lack of signals from Prime Minister Mahathir Mohamad over the timing of an expected early election. "Expectations were running high and
        AFP  -  458 words
      • 9113 17 INDUSTRIALS Consumer products '999 Last Vol Day Net Cap High Low Company Sal* OOO High Low P/E Smil 380 255 A)inomoto 360 -8 5 364 360 22 8 145.9 05 46 Angkasa 95.5 -1.5 103 98 95 140.8 293 220 Apollo Food Hlg 282 -2 1 282 282 9.8 112.8
        9,113 words
    • WARRANTS, OPTIONS & REGIONAL MARKETS
      • 204 18  -  WARRANT WATCH -By R Sivanithy THE next warrant that's going to expire is Orchard Parade Holdings next month. With so little time left, the numbers usually mean little other than to highlight the potential gains and risks involved in taking a
        204 words
      • 2311 18 BONDS, LOANS WARRANTS wt 52-Wk Last Vol Day Last Quote Ayq Hiqn Low Stno Company Sato »or- COOO) High Low Buyer Seltef Price 98 5 3 s 3160 "Acer W*****1USS 84 789 88 82 84 85 69 4.5 3164 Acma W*****4 65.5 unch 1027 67 63 64.5 65.5 64 45
        2,311 words
      • 225 18 HONGKONG STOCKS Gr Or s2 Wk L **< vol Day Last Ouolt Dtv Dtv VM Net M Cap High Low Stno Company Saw (OOP) High Low Buyar S«lktr CyT P/E $rral ~365 173 5123 COL (2000) HK 330 312.5 335 8 IT 2.4 11.2 ***** 5124 Cathay Pac
        225 words
      • 295 18 AFP n Wellington -37.4 NEW Zealand shares slipped 1.8 per cent yesterday after a bout of late selling, dealers said. The benchmark NZSE-40 Capital Index closed down 37.4 points at 2.091.81 on total turnover of NZ$l3B million. Telecom finished on a low. down 16 cents at NZ$B. AFP tm
        AFP  -  295 words
      • Article, Illustration
        885 18 AFP CI SET Index -1.74 THAI stocks fell back slightly yesterday as profit-takers scuppered the market's attempts to break a key resistance barrier at around 523 points, dealers said. The Stock Exchange of Thailand Index closed down 1.74 points or 0.3 per cent at 518.81. An analyst with Adkinson
        AFP  -  885 words
      • 411 18 AFP fl Composite Index +5.47 SOUTH Korean shares closed barely higher yesterday with foreign selling wiping out optimism sparked by Federal Reserve chief Alan Greenspan's suggestion that US interest rates would rise only modestly. Mr Greenspan's testimony to Congress helped remove some uncertainty from the market and his comments
        AFP  -  411 words
      • 659 18 AFP Q All Ordinaries +4.7 AUSTRALIAN shares closed up 0.2 per cent yesterday as gains on Wall Street flowed through but were later cut down by profit-taking, brokers said. The All Ordinaries Index finished up 4.7 points at 2,985.00. The All Industrials Index climbed 15.6 points to 5.228.60 while
        AFP  -  659 words
      • Article, Illustration
        722 18 AFP Q Composite Index +2&84 INDONESIAN stocks closed 3.9 per cent higher yesterday, buoyed through the psychological 700-point barrier by Wall Street's overnight rise and optimism on the domestic political front, dealers said. Dealers said positive firstquarter corporate results also had a large role to play. "I think the
        AFP  -  722 words
      • 321 18 AFP F1 Manila +11.56 PHILIPPINE share prices rose 0.5 per cent yesterday with punters focusing on speculative issues. The Philippine Stock Exchange Composite Index gained 11.56 points to 2,429.64. Volume fell to 2.87 billion shares worth 3.78 billion pesos from 5.23 billion shares worth 4.11 billion pesos on Thursday.
        AFP  -  321 words
    • 7380 19 Transaction date: Jnn 18 Of or mm 92-wm Last Vol Day Last Ouot. Dtv Dlv VM Nat Cap Avg WHO Law ttWa Cia)H) Sala roop) Law Bwyar 8«Bar C« M Prtta MUiTl MOUSTRY 163 17.5 m b 1000 Acma 50c 155 cd unch 1345
      7,380 words
    • 1540 19 Gr Of M Wt 52-Wk Last Vol Day Last Ouota Dty Dtv YM Nat Cap A«« HH|h__Lew StHo Company Sata COOP) Hlfh Law Buyar SaHar C'*r H P/C Smii Prtea MAHWACTURINO 148 30 2049 AS Auto Kk 135 -2 1090 139 132 13S 136 IS N 7 1.1 12.7
      1,540 words
    • STOCK EXCHANGE OF SINGAPORE
      • 422 20 Stocks Volume ICT HKIOc 114,000,000 Liang Huat 10c 69.489,000 Eaqle Brand Hldqs HK75c 57,401,000 Liang Huat Wt 54,279,000 LKHKtOO 53,918,000 •TanChonglnt50c 53,700,000 HiapSeng Engg 10c 45,558,000 WahShing HK50c 40.721.000 Amara Hldgs Ltd 40,034,000 Sin Soon H 10c 38,859,000 Stocks •TanChonglnt50c 94,012,650 OCBC Foreign 61,392,022 NOL 49,539,680 DBS Foreign 42,043,100 ICT
        422 words
      • 565 20  -  STOCK MARKET COMMENTARY But speculation of shorter settlement period takes the wind ont of market By R Sivanithy THE local market was going great guns yesterday until it was stopped dead in its tracks in mid-afternoon by a rumour that the authorities were
        565 words
      • ON THE GRAPEVINE
        • 139 20 YOU would think only the British have their problems with too many John Smiths. We got this reply in response to a query: "I don't know why but there are several people with the same name. Dr Lim Chuan Poh of EDB (Economic
          139 words
        • 63 20 ROBERT Kuok's attempt to put the group's hotel assets in Singapore, Malaysia and Thailand under his Hongkong-listed Shangri-La Asia Ltd will be scrutinised from closed quarters in Malaysia in more sense than one. This is because his son-in-law Rashid Hussain's RHB Sakura Merchant Bankers Bhd
          63 words
        • 108 20 EVEN ships are testing to ensure they are safe from the Y2K problem. A ship called "APL Singapore" conducted a simulation test off the coast of Los Angeles recenUy, reported the International Herald Tribune. In the simulation, a Y2K computer glitch had crashed a critical electronic
          108 words
        • 158 20 SINGAPOREAN Tan Eng Siong could be one of the first Singaporeans to make millions selling their Internet software in the US. Eng Siong and his pals, who developed the software while still working in Singapore, own and operate Third Voice Notepads for Websites, in Redwood City, California. And
          158 words
      • Article, Illustration
        59 20  -  ■By Wong Wei Kong INTERFORM Ceramics shares rose 9.5 HK cents to HK50.365 yesterday with 114.4 million shares traded, compared with its 10-day traded average of 18.8 million units. The stock is at a 52-week high but the technical indicators are mixed and suggest that the uptrend may
        59 words


  • Page 13 Advertisements
    • 286 13 Welsh Development Agency Vice President International Trade Based Singapore A principality of the United Kingdom, Wales has one of the most vibrant economies in Europe. In just over rhe last fifteen years, it has seen its GDI' rise by 30%, unemployment fall by 42% and a capital flow into the
      286 words



  • Page 16 Advertisements
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      90 words



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    • 49 19 for^usan^N I advertised in X. gooc deal. /i up, we got what V is going to be y \The Straits Times// As lj f we wanted because real nice! ch'pv/, —y'ldlt" Buyina or selling through The Straits Times Classified is child's play. > callcat.s.at 1800*737-1.166* i 1 _a*. 4 O
      49 words

  • Page 20 Advertisements
    • 891 20 Want to talk investments with your peers? Join our forum at "http://iol.dbs. com.sg/iol/bbs". BDBSBANK NOTICES To advertisTTalHtolMr^^ YEO HIAP SENG LIMITED (Incorporated in the Republic of Singapore) NOTICE OF CLOSURE OF BOOKS TO MEMBERS NOTICE IS HEREBY GIVEN that: The Share Transfer Books and Register of Members of Yeo Hiap
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    • 28 20 Classified First. Want a home with a sea view? Or simply seeking a new nest? Make the right move: Check The Straits Times Classified First. CATS. I hiUMIFWI.
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      215 words