The Business Times, 14 July 1999

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Total Pages: 40
1 40 The Business Times
  • 11 1 THE BUSINESS TIMES 85c SINGAPORE Internet: http://business-times.asial.com.sg/ WEDNESDAY, JULY 14, 1999
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  • 66 1 m 2178.41 (-20.29) BT-SEI 82&06 (-9.14) SDESCIFUTUBES 294*80 (-3.60) B MAIKETMOOD: mm Mixed STOCK MARKET INDICES Tuesday Change KLSECOMP ***** -9.48 NIKKEI 18,181.09 -93.09 HANO SENO *****.93 -80.91 SET INDEX ***** -11.13 JAKARTA COMP ___666.19 -«J3 MANILA COMP _1604.49 1.73 TAIPEI WPl *****0 -269.40 SEOUL COMP ***** -18.71
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  • 81 1 FOBEX BATES USI S) USS 1.7W £(l'S$/S$ per 1.566 1646 EURO(USS/S$ per E) 1.013 1.713 DM 1330 0,881 YEN 1212 1.391* RM 1800 0.447 HKS 7.760 0111 BAffT 37.18 0.046 RUPIAH 6,670 0.026 'St to 100 uitiU PRIME BATES SINGAPORE* 5.80 KUALA LUMPUR 7.26 JAKARTA 40.06 BANGKOK 10.00 MANILA
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  • 634 1  -  It may be keen on JPsfnnd management business, says source From Quak Hiang Whai in Hongkong DBS Bank, which already has a strong retail banking network in the region, is said to be keen on boosting its regional fund management and
    634 words
  • 236 1  -  S'pore forced selling pressure seen tapering off By\ R Sivanithy [SINGAPORE] Sentiment in regional equities was weak yesterday with all markets losing ground, apparently because of friction between China and Taiwan and a general loss of momentum in global stock markets. In Singapore, there was
    236 words
  • 699 1  -  Analysts warn of further retreats in the coming days From Macabe Keliher in Taipei TAIWAN stocks plunged 3.1 per cent yesterday on fears of renewed tensions in the Taiwan Strait after President Lee Teng-hui abandoned a "one China policy" over the weekend in
    Source: AFP/Reuters  -  699 words
  • Page 1 Advertisements
    • 129 1 nrsroE Hooey Matters Could the yen lead another US dollar dip? Pf 14 Asian View Smelling the scent of victory, Indonesian President B J Habibie is tightening his grip on the ruling Golkar party, Pg 7 TW Bettsm Une Professionals should be allowed to advertise, says Ang Peng Hwa, Pf
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    • 83 1 Singapore likely to be fastest growing in next decade, says World Economic Forum's 1999 Global Competitiveness Report Pg 2 NOL to sue Thai company over loan default Pg 15 Market reports, Pgs 20-24 Is it TIME to V spend some of An those stockmarket J ".Di. I 1 VWtrCWS: I
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    • 73 1 iY To r, y jfe CORUM TABOCAN On your wrist or bureau. A contemporary watch forever with you Steel or 18 carat gold. Automatic mechanical or quartz movement. Registered model. Manufactured in Switzerland In exclusivity at LUCKY PLAZA A MILLENIA WALK *>1-32 Tel: 734 3668 Fax: 738 1873 #01-63/64 Tel:
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    • 15 1 Taipei extends olive branch to Beijing, Pg 8 Taiwan politics behind latest spat, Pg 8
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  • SINGAPORE AT HOME & ABROAD
    • 666 2  -  Competitiveness report keeps country in No 1 slot and sees it growing 5% between 2000-2008 RejHtrUs by. Anna Teo DESPITE slipping into recession last year, Singapore not only remains the world's most competitive economy but will likely be the fastestgrowing
      666 words
    • 515 2 SINGAPORE workers are rather underpaid for their productivity levels, especially those in manual jobs. To that extent, Singapore wages are competitive, according to the 1999 Global Competitive Report. Based on data obtained via the World Economic Forum's executive opinion survey, the median wage of a Singapore
      515 words
    • 524 2  -  Team competent to lead; that's more important than personalities By. Audrey Tan THERE is no timetable to the political succession in Singapore, though Prime Minister Goh Chok Tong has said that he may start to "step back" after the next elections,
      524 words
    • 382 2  -  By, Jennifer Lien SEAGATE Technology, which has cut a quarter of its supplier base in the last year, plans to cut this by a further 25 per cent, a senior official said yesterday. Senior vice-president for materials Dave Wickersham declined to
      382 words
    • 332 2  -  EYE ON THE ECONOMY Consumer confidence -By] Marissa Chew CONFIDENCE in the economy has sprung back, with the consumer confidence index rising to 91.2 for the six months ending September, up from 45.4 in the preceding six months. The index is compiled by the economics
      Source: Temasek Foly  -  332 words
    • 496 2  -  Move aims to meet needs for creative, flexible individuals By Marissa Chew ADMISSION requirements to the National University of Singapore and the Nanyang Technological University will be changed to meet Singapore's needs for creative and flexible individuals who can work
      496 words
    • 377 4  -  By* Corinne Kerk SOMERSET International Holdings (SIH), the hospitality arm of Pidemco Land, yesterday launched 33 upgraded black-and-white bungalows which may eventually fetch gross rents of an estimated $6 million a year. Branded as Somerset Heritage Residences, the bungalows are situated in
      ARTHUR LEE  -  377 words
    • 391 4  -  It'll organise more industry-based missions; promote US-S'pore business tie-ups By Eugene Low TO expand Singapore's trade links with the US, the Trade Development Board is stepping up efforts to improve local companies' access to the US market, TDB chief executive officer
      391 words
    • 367 4  -  By I Soh Tiang Keng NTUC Fair Price, Singapore's biggest supermarket chain, has helped consumers save at least $48.6 million over the past five years through various offers and discounts.' This was revealed yesterday by its chief executive, Tan Kian Chew, who said the supermarket
      367 words
    • 141 4 AFP [LONDON] Nick Leeson, the rogue trader who broke Britain's oldest merchant bank Barings, told the Daily Mail yesterday how he coped with learning of his cancer and his marriage break-up while in jail. Leeson, 32, was flung into Singapore's Tanah
      AFP  -  141 words
    • 350 4  -  By 1 Teh Hooi Ling THOSE who use mobile phones only occasionally and prefer the more varied models of GSM 900 handphones can now buy Mi's prepaid cards and do away with monthly bills and subscription fees. Singapore's second mobile phone operator
      350 words
    • 446 4  -  There's a danger S'pore could lose edge as logistics hub, warns US expert By\ David Boey LOGISTICS managers and government policymakers need to adopt a mindset change and leverage on information technology in order to help Singapore maintain its cost-effectiveness as a logistics
      ARTHUR LEE  -  446 words
    • 343 4  -  MAILBOX Edward Fu Singapore PRIOR to the economic crisis, banks were eager lenders to Indonesia, Thailand and Malaysia. Senior managers were putting pressure on lending managers to increase their lending books or else their job promotion was on the line. The
      343 words
    • 155 4  -  Denis Distant Singapore via Internet THE Stock Exchange of Singapore recently queried GES International regarding the disposal of 10 million shares by major shareholder Goh Lik Tuan. I think the SES should also monitor the reporting of transactions by substantial shareholders of all
      155 words
  • Page 2 Advertisements
    • 67 2 ffV/W? L Uulfflu 1 :i;3| Results off tender for taxable book-entry Government Bond 1999 due 15 Jan 2009 to be issued on 15 Jul 1999hk1 lienor approx. 10years Amount Offered Allotted *****,000,000 Amount Applied 551,332,292,000 Interest/Coupon Rate 4.375% p.a. Average Yield Price on Allotment 4.590% p.a. and 98.360% 1 Cut-off
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  • Page 3 Advertisements
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  • Page 4 Advertisements
    • 399 4 The Nikkei Weekly, of course. Published by Nihon Keizai Shimbun, Inc. (Nikkei), it is Japan's only Englishlanguage business newspaper covering the entire spectrum of the nation's One English-language business paper economy, including its financial, manufacturing and service sectors. The tells you more about corporate Japan Nikkei Weekly draws on the
      399 words
    • 2 4 email: btletter@sph.com.sg
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  • Page 5 Advertisements
    • 146 5 :r .ntowiHp -^H *«nBßp»(K* JH :^S3lMp.v\jfrpfcl i- A .<■>.' '*^--M jißtk, fc Available in 1.6 and 2.3 Automatic. It would seem that genetic resemblances go beyond mere good looks. In the new Bora, you'll and matched with a level of refinement that can only add to the sheer joy of
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  • ASIA OH THE MEND
    • 173 6 Reuters [LONDON] Asia-Pacific fund managers are increasingly bullish on the outlook for Asian currencies and corporate profits, according to the July Merrill Lynch Gallup survey released yesterday. Fully 96 per cent of funds polled have a favourable view on Pacific Basin corporate profits
      Reuters  -  173 words
    • 559 6 Bat EPA chief says it is still hard to say when the economy will begin to recover Reuters [TOKYO] The Japanese government yesterday upgraded its assessment of the economy, but policy-makers, still cautious on the outlook, said Japan must continue taking steps to nurture
      Reuters  -  559 words
    • 512 6 Govt nnveiling plans to boost corporate, tourism sectors Reuters, AFP [BANGKOK] Thailand's leading securities firm. Securities One pic, has revised its growth forecast for the country's gross domestic product this year to 2.1 per cent from 1.1 per cent previously. "We continue
      Reuters,; AFP  -  512 words
    • 652 6 Bat no imminent devaluation sensed in Dai's statement Reuters [SHANGHAI] China is keeping its powder dry for a possible currency devaluation but it is not about to squeeze the trigger just yet, analysts said yesterday. They said the reluctance of central bank
      Reuters  -  652 words
    • 440 6 Reuters [SEOUL] Rising South Korean interest rates underpinned by a faster-than-expected economic recovery should take some steam out of Asia's best performing stock market this year. But analysts said that does not signal an end to a 10month bull run which pushed
      Reuters; FILE PHOTO  -  440 words
    • 450 6 AFP [SEOUL] Kia Motors Co, the harbinger of South Korea's 1997 economic crisis, said yesterday that it was rapidly turning itself around, thanks to a strong economic recovery and booming exports. "We are expecting to see a net profit of 100 billion won (*****.5
      AFP; FILE PHOTO  -  450 words
    • 413 6 Bernama [SINGAPORE] US investment bank Goldman Sachs is maintaining its projection of 2 per cent economic growth for Malaysia this year, adding that it is reassured by the fact that the country's financial and corporate reforms are being tackled with little
      Bernama  -  413 words
    • 277 6 BernamaKyodo [TOKYO] Asia should create a joint financial supervisory body as the first step towards a new regional currency regime, former German Vice Finance Minister Heiner Flassbeck says. "I think the lesson from the Asian crisis now is Asia needs something like
      Bernama- Kyodo  -  277 words

  • SOUTH-EAST ASIA
    • 549 7 BANGKOK Bat there's hope some bigger banks could be back in the black next year Reuters [BANGKOK] Thai commercial banks will report further heavy quarterly losses next week but for some of the larger ones there are glimmers of light
      Reuters; FILE PHOTO  -  549 words
    • 265 7 JAKARTA Move will incnr foreign investors' wrath: financial exec Bloomberg INDONESIA cannot push forward the timetable for the end of the domestic call monopoly held by PT Telkom without inviting foreign investors' wrath, the company's chief financial officer warned. Looking to pre-empt
      Bloomberg  -  265 words
    • 132 7 HANOI AFP COURT prosecutors have recommended six death sentences and eight life sentences for defendants in Vietnam's biggest corruption trial, a court official said yesterday. The prosecution recommended the death penalty for key defendant Tang Minh Phung, a businessman accused of defrauding
      AFP  -  132 words
    • 1203 7  -  ASIAN VIEW Golkar still sensing victory based on Internal document' In the bands of tbe media By Yang Razali Kassim ONCE powerful, now cut down to size. But despite losing much ground in the recent general election as widely expected, Golkar has shown
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    • 266 7 KUALA LUMPUR Bloomberg MALAYSIA said its plan to merge the country's telecommunications companies may be delayed, pushing back efforts to restructure debts totalling 4.6 billion Malaysian ringgit (Ss2 billion) at Time Engineering Bhd. Time, the nation's most financially troubled telecommunications company,
      Bloomberg  -  266 words
    • 71 7 KUALA LUMPUR Reuters MALAYSIA wants to see the number of insurance companies reduced to 10 to 15 from over 60 now. Second Finance Minister Mustapa Mohamed said yesterday. The move will aid competition against foreign insurers, he said at the opening of John Hancock Life Insurance
      Reuters  -  71 words
  • Page 7 Advertisements
    • 54 7 ~£uxc™ This dtary is specially Diary Makers to si vV created in celebration of Corporations jk Worldwide y humankinds triumph and j '.\\./'v- .N.y>> v.A'■'» progress in the last Each day is marked with a significant historical event that occured 1 800 DIARIES L TOLL FREE LINE 1 800 *****37
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  • CHINA-HONGKONG-TAIWAN
    • 634 8 TENSION IN TAIWAN STRAITS It continues to reject 'one China' policy but offers to explain stand to Communists Reuters [TAlPEl) Taiwan's Nationalist government extended an olive branch to Communist China yesterday after unleashing a furore by repudiating a key policy that has largely contained
      Reuters; AFP  -  634 words
    • 505 8 Beijing mulling over naval exercises even larger than those in 1996, says HK paper Bloomberg TAIWAN President Lee Teng-hui, facing the twilight of his political career, touched off a rhetorical battle with China aimed as much at his domestic rivals as foreign policy
      Bloomberg  -  505 words
    • 359 8 HONGKONG Tariffs likely to fall with liberalisation and competition Reuters HONGKONG'S telecommunications market is poised for more growth with lower tariffs over the next 18 months due to additional liberalisation and competition, the territory's top telecoms regulator said yesterday. Anthony Wong, directorgeneral of Hongkong's
      Reuters  -  359 words
    • 209 8 HONGKONG New rules include fixed-asset loans for np to five years Bridge News [HONGKONG] The People's Bank of China (PBOC) said from tomorrow, foreign companies will be allowed to borrow in yuan, from authorised domestic banks "in a simpler and easier
      Bridge News  -  209 words
    • 157 8 HONGKONG Bridge News GUANGNAN Holdings, a Hongkong-listed subsidiary of the China Guangdong provincial government-owned Guangdong Enterprises (GDE), has denied allegations it is to be put into liquidation. The speculation comes amid the attempted restructuring of financially beleaguered GDE. but the restructuring plan on the table has
      Bridge News  -  157 words
  • Page 8 Advertisements
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  • ASIA
    • 246 9 SEOUL AFP WORKERS at South Korea's bankrupt Jinro-Coors Brewing Co said yesterday that they had sued its administrators and a rival brewery for alleged unfair interference in the firm's auction. The action came before today's new deadline for bids in the second attempt
      AFP  -  246 words
    • 480 9 BOMBAY Strong economic data provides bullish undertone; index hits record high intra-day Reuters, Bloomberg INDIAN shares surged to a record high in opening trade yesterday as euphoria over a peace deal between India and Pakistan over the disputed Kashmir region lingered for
      Reuters,; Bloomberg; Source: Bloomberg  -  480 words
    • 139 9 TOKYO Reuters INTERNET Initiative Japan (IIJ), a major Japanese Internet service provider, is planning to list its shares on the US Nasdaq trading system in early August, avoiding Japan's markets, the Nihon Kei zai Shimbun reported on its wire service yesterday. Nihon Keizai
      Reuters  -  139 words
    • 490 9 TOKYO Probe reveals possible violations of Hanging and securities roles Bloomberg CREDIT Suisse Group's Tokyo derivatives unit may lose its banking licence following a six-month probe, a Financial Supervisory Agency (FSA) official said yesterday. The investigation focused on whether there was wrongdoing by
      Bloomberg  -  490 words
  • Page 9 Advertisements
    • 119 9 IJ [V M it W*Jlf>l!l£H 11 k T /s i i ftiSlllavlM It gives us pleasure that, with the introduction of their latest car, our closest other car on the road today. No wonder the BMW 7 Series > (omti ot flattery. Which only proves is accepted as the most
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  • THE WORLD
    • 262 10 LONDON Reuters BATTERED gold prices faced the prospect of further bearish news yesterday, with dealers and analysts speculating that Britain was not alone in selling gold from reserves. Market talk of central bank gold sales, evident since Britain announced last May
      Reuters  -  262 words
    • 532 10  -  Biggest boost for euro may come only with Wall Street tumble From. Nell Behrmann in London FOREIGN exchange dealers believe it is only a matter of time before the euro touches parity with the dollar. The rate touched an all-time low
      Source: Bloomberg  -  532 words
    • 331 10 BUENOS AIRES Plunge sparked by fears of an Argentine debt moratorium Bloomberg ARGENTINE stocks and bonds fell, leading a rout in Latin American markets for a second day, after the ruling party's presidential candidate said he may seek to renegotiate the government's US$l3O billion
      Bloomberg  -  331 words
    • 520 10  -  SINGAPORE It could strengthen over the medium term, he says By' Vikram Khanna THE weakness of the new European currency, the euro, has little impact on Europe's real economy and will in any event be reversed, the chief economist of Dresdner Bank said
      CHRIS LOH  -  520 words
    • 464 10 BONN Reuters DATA showing retail sales and exports down in May again highlighted the weakness of the German economy yesterday, and a top economic institute shaved its 1999 growth forecast for Europe's largest economy. While analysts said they were still banking on a recovery
      Reuters  -  464 words
    • WORLD Watch
      • 107 10 AFP [BRUSSELS] The European Union is not ready to lift its ban on North American beef imports, despite a WTO ruling authorising Washington and Ottawa to slap the EU with sanctions, a European Commission spokesman said yesterday. "It would be irresponsible for the
        AFP  -  107 words
      • 95 10 Bloomberg [MOSCOW] Russia agreed to across-the-board limits on steel exports to the United States to avoid anti-dumping duties that would have made Russian producers' hot-rolled steel too expensive to sell in the US, once their biggest market. After eight months of talks,
        Bloomberg  -  95 words
      • 68 10 Reuters [LONDON] A majority of US fund managers are expecting one more interest rate hike by the Federal Reserve over the next 12 months, according to the July Merrill Lynch Gallup survey released yesterday. Some 54 per cent of fund managers expect just one
        Reuters  -  68 words
      • 71 10 Reuters [WASHINGTON] After-tax profits of US retailers fell to 2.3 US cents for each dollar of sales in the first quarter of 1999, down from 3.1 US cents in the fourth quarter of 1998, the Commerce Department said yesterday. Retailers generated total after-tax profits of
        Reuters  -  71 words
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  • EDITORIAL & OPINION
    • 805 11  -  'I'HT! BOTTOM LINE OPINION By Ang Peng Hwa The writer is the legal adviser to the Advertising Standards Authority of Singapore but writes in his personal capacity THE dentists have amended the Dentistry Act in just the way that I feared Instead of liberalising
      805 words
    • 106 11 'As long as lava boils, it finds its way to the plains. And the Kashmiri resistance, like that lava, will find someplace else. And it will never cool off.' -Nawaz Sharif Pakistani prime minister, on the withdrawal from Kargil. There is no economic payback for a manned
      106 words
    • 560 11 EDITORIAL THE United States may be entering the era of the New Economy where globalisation and information technology produce never-ending economic growth, as some American economists proclaim. Unfortunately, one notion which clearly belongs to the Old Economy refuses to go away. Protectionism, that political-economic impulse that has
      560 words
    • 1376 11  -  The telling signs of a US stockm&rket bubble are as evident now as in the 1920s By) Edward Chancellor The writer is author of 'Devil Take the Hindmost: A History of Financial Speculation' (Farrar, Strauss and Giroux) The Washington Post IN THE
      The Washington Post; FILE PHOTO  -  1,376 words
    • 845 11 HX wlmlM h AN essential plank of the Walt Disney Company's approach is never to let harsh reality impinge on their fairy-tale world. Once inside the magic kingdom, the problems of the workaday world simply aren't allowed to exist. That is the perfect philosophy for a
      845 words

  • Page 12 Advertisements
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  • EXECUTIVE LIFESTYLE
    • 437 13 She'll play her final major championship at the US Open Reuters [MAHWAH, New Jersey] After announcing that she had played her last French Open and final Wimbledon, tennis superstar Steffi Graf confirmed on Monday that this would be her final year on the
      Reuters; AFP FILE PHOTO  -  437 words
  • Page 13 Advertisements
    • 582 13 Where to wine, dine and (ol&a- 4^l^^ "IiXB All the fresh oysters you can eat! Help yourself at our carving station then feast over a lavish buffet dinner complete with appetizers, salads, soup and tempting desserts. Complement your meal with a specially pnced wme-by-the-glass. •MHB q JEk Dinner: Monday Friday
      582 words
    • 145 13 'Ballrmm Dandna AT THE NEPTUNE Set your night on fire. Tango, Waltz, orßocit ever y vVwi Wednesday night as you dine on our seafood servings with a complimentary glass of Vx of wine and stand >KpiHSk a chance to win attractive prizes weekly. Every Wednesday, 7pm lam Pricing: $30 nett
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  • Page 13 Miscellaneous
    • 1224 13 CRYPTIC CROSSWORD ACROSS j 2 3 i i I p I 3 1 Message Margo sent back af- I made a fuss HI 5 Start to ski all around on mountain tops thus? (6) 3 9 Lied about Head not moving a L-— I I I muscle (8) HHFi■■[ 10
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  • FOCUS: MONEY MATTERS
    • 983 14  -  Closer to home,, Thailand and Indonesia may see a reality check setting in By Larry Wee IN broad terms, currency markets continued where we left off last week. And while a few events since then have threatened to shake things up, there's
      Source: Bridge; Source: Hypovereinsbank  -  983 words
    • 554 14 Resource-oriented stocks, commodity currencies will gain RISING commodity prices are adding to cyclical upside risks for global bonds. US rate fears are overhanging US Treasury bonds, while a weak euro and improving growth prospects are undermining European fixed income assets. Asia
      Source: Bridge  -  554 words
  • Page 14 Advertisements
    • 402 14 Chart of interest rates: Dollar Base Premium Deposit Alternate Currency Interest Rate* Australian Dollar 18% p.a. Euro 14% p.a. HKxv A I I t/\ Japanese Yen 11% p.a. U P lO British Pound 11% p.a. g Canadian Dollar 10% p.a. I j f If you're looking for a foreign currency
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  • COMPANIES & MARKETS
    • 380 15  -  Neptune was guarantor for two loans granted to Uahwatansaknl Co Byi Catherine Ong [SINGAPORE] Neptune Orient Lines (NOL) is taking steps to sue a Thai company, Uahwatansakul Co (UCL), to recover US$45 million (5576.5 million) it had paid for the latter
      380 words
    • 318 15 Association expects more offers for shares to emerge [SINGAPORE] Reasonable arrangements must be made for non-accepting investors before the Singapore authorities approve any Clob offer, said the Securities Investors Association (Singapore) yesterday. Unless there is clarity over what the alternative is, Clob
      FILE PHOTO  -  318 words
    • 811 15  -  HOCK LOCK SIEW Wong Wei Kong JUST when the Singapore government said at the end of June that it was going to relinquish its majority stake in the Suzhou Industrial Park (SIP), Wing Tai Holdings disclosed that it was leading a
      811 words
    • 389 15  -  From, Eddie Toh in Kuala Lumpur THE proposed union between Southern Bank and Penangbased Ban Hin Lee Bank is a good fit but it is still unclear how the merged entity will be managed, according to analysts. "I think it would be quite a
      389 words
    • 429 15  -  Ernst L Young cites Transmarco unit's huge debts and losses Teh Hooi Ling [SINGAPORE] Transmarco's auditor Ernst Young yesterday raised "substantial" doubt that the group's telecommunication subsidiary Lanka Bell will be able to continue as a going concern. If Lanka Bell failed, adjustments might
      429 words
    • 189 15 [SINGAPORE] DBS Bank directors said they will "exercise their discretion" in lifting the government's three-year moratorium on selling non-voting shares shortly after an extraordinary general meeting on July 28, provided all recent changes proposed by the bank are approved in that
      189 words
    • REGIONAL COMPANIES
      • 379 16  -  Bid to sell palm oil stake in PNG hit by PM Bill Skate's resignation From Brian Gomez in Sydney KULIM Bhd, the listed vehicle controlled by the government of the Malaysian state of Johor, has called off its initial public offer
        379 words
      • 256 16 Move comes after it revoked e&rlier issue priced at 42.5 cts [SINGAPORE] Twinwood Engineering yesterday revised the price of a placement issue which it proposed and later revoked on Monday from an initially-announced 42.5 cents to just 35.7 cents. The company
        256 words
      • 295 16  -  Prom, Al Labita in Manila LISTED conglomerate Ayala Corp last Friday raised US$2OO million (Ss34o million) from its oversubscribed Eurobond float following successful roadshows in Singapore and Hongkong, an official said yesterday. Ayala Corp spokeswoman Aida Mendoza said Asian investors led by those
        295 words
      • 200 16 [SINGAPORE] Rotary Engineering yesterday said its wholly-owned subsidiary Rotary Mechanical Construction Company (RMC) has entered into a joint venture to provide engineering works on Pulau Bukom for Shell Eastern Petroleum. A new entity RKB Engineering Co Pte Ltd has been incorporated to manage
        200 words
      • 528 16 Move aimed at cooling market frenzy Bloomberg [KUALA LUMPUR] Malaysian brokerages including Amsteel Securities Bhd, and TA Securities Bhd, are cutting the amount of credit they offer traders. Amsteel whose parent Amsteel Corporation Bhd is 4.7 billion Malaysian ringgit (SS2.I billion) in debt demanded from
        Bloomberg; FILE PHOTO  -  528 words
      • 215 16 LISTED electronics firm Giken Sakata yesterday said it would be affected by price pressures this year, but added it would cut production costs and boost efficiency. "The group is expecting the competitive market conditions in the electronic components industry to continue,"
        215 words
      • 370 16  -  From. Al Labita in Manila A UNIT of Malaysian gaming firm Metroplex Bhd is eyeing a takeover of a state-run casino business located in a former US military base in Angeles city, south of Manila, its listed Filipino partner said yesterday. In a
        370 words
      • COMPANY Briefs
        • 57 16 [KUALA LUMPUR] Telecommunications firm DiGi Swisscom has proposed a l-for-2 rights issue of 250 million new shares at 1.25 Malaysian ringgit each. The RM312.5 million proceeds will go towards repaying shareholders' advances and to part finance its capital expenditure. DiGi's major shareholder Vincent Tan has
          57 words
        • 64 16 AFX-Asia [JAKARTA] PT Telekomunikasi Indonesia said a possible merger with PT Indonesian Satellite Corp was one of several alternatives being studied, the Jakarta Stock Exchange said, citing a letter from the company. "A possible merger of Telkom and Indosat is one among several alternatives being studied
          AFX-Asia  -  64 words
        • 55 16 [SINGAPORE] Nat Steel's wholly-owned subsidiary Nat Steel Engineering (NSE) has acquired the remaining 20 per cent equity comprising 20,000 ordinary shares of £1 each in the paid-up capital of its subsidiary Nat Steel Engineering (UK) for £1 each. This results in Nat Steel Engineering (UK)
          55 words
        • 35 16 [SINGAPORE] Golden Agri-Resources said yesterday it has increased its shareholding in trading firm AFP Agri-Resources Trading (M) Sdn Bhd from RM2 to RMIOO.OOO, through subsidiary AFP Agri-Resources Pte Ltd.
          35 words
        • 48 16 [SINGAPORE] Inter-Roller Engineering has secured a $1.6 million contract from the Civil Aviation Authority of Singapore, to maintain and operate the baggage handling system at the Singapore Changi Airport Terminal 1. Inter-Roller currently also operates and maintains the baggage handling system at Terminal 2.
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    • COMPANIES
      • 667 17 Fewer Japanese firms; merger sends DaimlerChrysler to No 2 slot [HONGKONG] For the third year in a row, General Motors topped the 1999 Fortune 500 list of the world's largest corporations, with DaimlerChrysler and Ford Motor in the trail. Wal-Mart Stores, Mitsui,
        667 words
      • 437 17 NZ giant will be left with building and forestry businesses Bloomberg l WELLINGTON] Fletcher Challenge Ltd, New Zealand's second-biggest publicly traded company, will split its businesses, spinning off its paper and energy arms, which contribute more than half its sales
        Bloomberg  -  437 words
      • 415 17 US firm joins several others riding on Wall Street volumes Bloomberg Reuters {NEW YORK] Merrill Lynch Co, the biggest US brokerage, said profit rose 23 per cent to a record as commission and trading revenue grew in the second quarter. At US$673 million (551.14
        Bloomberg; Reuters  -  415 words
      • 347 17 Bloomberg [LONDON] Air Liquide SA, the world's largest supplier of industrial gases, and No 4 Air Products Chemicals Inc will jointly buy BOC Group pic of the UK for £7.2 billion (Ssl9 billion) in cash, letting them expand into
        Bloomberg  -  347 words
      • 70 17 [MONTREAL] Pierre Karl Peladeau (left), Quebecor Inc'spresident/CEO, and Charles Cavell (centre), Quebecor Printing's president/CEO, with Marc Reisch, World Color Press Inc's president/COO, on Monday announcing the merger of Quebecor Printing and World Color Press. Quebecor Printing's friendly US$2.7 billion (554.6 billion) takeover offer for World Color Press
        REUTERS  -  70 words
      • 359 17 Company is first HE Internet portal to get a Nasdaq listing Bloomberg [HONGKONG] China.com Corp, which operates bilingual Web sites, raised US$B4 million (*****.8 million) in an initial stock sale that values the unprofitable company at US$42O million. The Hongkong-based company that serves as a
        Bloomberg  -  359 words
      • 294 17 This is abont a third below City expectations FT [LONDON] Freeserve, which pioneered free Internet access in Britain, will be valued at between £1.3 billion (553.4 billion) and £1.5 billion when the shares are floated in two weeks about a third below City expectations.
        FT  -  294 words
      • 305 17 Revenue expected to be hit by lower pricing, demand fall Reuters [SAN FRANCISCO] No. 1 chip maker Intel Corp was expected yesterday to report second-quarter earnings that are in line with analysts' expectations, with revenues expected to decline from the first quarter, as a
        Reuters  -  305 words
    • FINANCE & COMMODITIES
      • 518 18 Acquisition is US bank's biggest bet on electronic securities trading Reuters [NEW YORK] Goldman Sachs Group Inc on Monday said it would buy electronic market maker Hull Group for US$53l million, in the US investment bank's latest and biggest bet on the way the
        Reuters  -  518 words
      • 378 18 Firm grabs 14% of USs37b loan market in first half this year Bloomberg, FT (HONGKONG] Citigroup Inc was the biggest lender to Asian companies and governments during the first half of the year, said Thompson Financial Securities Data, a firm that tracks financial
        Bloomberg,; FT; FILE PHOTO  -  378 words
      • 272 18 Bloomberg [SEOUL] New York Life Insurance Co, the fourth largest US life insurer, is close to buying South Korea's troubled Kookmin Life Insurance Co, the Korean government said. "I'm pretty confident we will sign a solid memorandum of understanding with New York
        Bloomberg  -  272 words
      • 395 18 Royal Sun to offer US$1.4b for Orion FT [LONDON] UK's largest general insurer. Royal Sun Alliance Group, will double its size in the US with an agreed takeover of Orion Capital Corporation valuing the group at US$l.4 billion (552.4 billion). Orion will extend Royal Sun's exposure to speciality insurance and
        FT  -  395 words
      • 301 18 Group's majority shareholders lost control over planned Spanish tie-up FT [MADRID] The battle for control of a leading Portuguese Financial group, a test case for cross-border consolidation in European banking, has intensified as Lisbon authorities removed control of the group from the
        FT  -  301 words
      • WORLD Watch
        • 99 18 Bloomberg [SEOUL] HSBC Holdings is in a "final stage" of talks to buy the Korean franchise of TGI Friday's from Asian Star for about 50 billion won (5572.2 million), Asian Star said. "If everything goes well, we'll be able to sign an agreement next
          Bloomberg  -  99 words
        • 105 18 Bridge News [TAIPEI] Taiwan's Ministry of Finance (MOD said Hung Fu Life Insurance (HFLI) has agreed on a share transfer deal under which it will sell 53 per cent of its shares to* Hung Tai group to increase its capital by NT11.5 billion (5578.7
          Bridge News  -  105 words
        • 88 18 AFP [TOKYO] US fund manager Fidelity Investments said yesterday it would start providing pension services next year for Japanese firms. The Japanese arm, Fidelity Group Pensions—Japan, planned to offer pension services which allow employees to set aside a fixed amount of salary as retirement
          AFP  -  88 words
        • 69 18 Bloomberg [ZURICH] Swiss Reinsurance Co, the world's second-largest reinsurer, and Policy Management Systems Corp, a US software and electronic commerce provider, said they formed an alliance to provide services and technology to the insurance industry. The alliance will focus on assisting new US ventures
          Bloomberg  -  69 words
      • 145 19  -  snwmr Reports MSCI Singapore Index Daphne Tay, Jardine Fleming THE Singapore market traded in mostly negative territory yesterday in the absence of any significant buying support. The benchmark Straits Times Index closed at 2,178.49, down 20.29 points or 0.9 per cent. Volume was
        145 words
      • 205 19  -  MS& Taiwan futures Cecilia Woo Refco Singapore THE Simex MSCI Taiwan Stock Index futures plunged a massive 14.3 points in the July 1999 contract after the Taiwan Weighted Price Index declined a hefty 259.4 points after news of political bumps between China and Taiwan. It
        205 words
      • 316 19 ENERGY REPORT Reuters [LONDON] Oil prices again hit fresh highs yesterday as Opec output curbs continued to support the market, but any further advance was seen dependent on US demand. London futures for benchmark Brent crude hit a 20month high of
        Reuters  -  316 words
      • 332 19 Reuters, Bloomberg London THE US dollar paused for breath yesterday as euro/dollar recoiled slightly from its life low below US$l.OllO hit earlier in the session and the US currency softened against the yen and Swiss franc. Analysts voiced a number of reasons including concerns about Latin America, technical
        Reuters,; Bloomberg  -  332 words
      • Article, Illustration
        1243 19 DtTERBAMK CROSS RATES C$ !■> faro ffr Pw HK$ tadtatuplah Von Won H HZjPXBs Peso SS Band Sfr MTS tm Hmt M$ Australia 0.982 6.178 0.655 4.296 1.281 5.150 28.687 ***** 0.811 7.804 2.522 1.264 34.315 25.432 1.128 4.088 1051 ***** 24.676 0.427 0.6*4 Canada 1.018 5.607 0.667 4.374 L304
        1,243 words
      • 1850 19 SICOM FUTURES .M13 RUBBER (Mures dosmq h it 5-30pm) RSS1 CONTRACTS cwtsAq) Clos« Volume Open Month Hkjh Low Sett (tonnes) Interest Aug 99 95.50 300 Sep 99 97.00 900 Oct 99 100.50 100.50 99.25 50 300 Nov 99 100.75 350 Dec 99 102.50 350 Jan/Mar 00 105.50 300 RSS 3
        1,850 words
    • Article, Illustration
      1414 20 AFP □flang Seng -80.91 HONGKONG share prices closed down 0.6 per cent yesterday in cautious trade due to lack of fresh incentives and concern at the growing tension between China and Taiwan, dealers said. "Basically, it is a continuation of selling pressures from the last few days following past
      AFP  -  1,414 words
    • Article, Illustration
      587 20 AFP, Reuters Q Shanghai B Index -3.64 SHANGHAI'S B shares closed down 7.4 per cent yesterday as a continued slide on the A share market undermined confidence, dealers said. The Shanghai Stock Exchange's B Share Index, which tracks shares nominally reserved for foreigners, shed 3.64 points to finish at
      AFP,; Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  587 words
    • 329 20 AFP QWP Index -259.40 TAIWAN share prices closed 3.1 per cent lower yesterday on panicky selling sparked by renewed tension with China over President Lee Tenghui's remark redefining cross-straits relations. "The stock market collapsed due to renewed political fuel over cross-strait relations," said William Wang, fund manager of Inter-
      AFP  -  329 words
    • 2323 20 LONDON Industries ■Ml 13 Pound *h 34 Group 8.04 -0.20 Abbey National a54 -0.08 A B Foods 4.23 0.02 A B Ports 2.99 0.02 Alliance Leicester 8.30 -0.13 Allied Domecq 5.93 0.02 Allied Zurich 7.99 -0.05 Anqlo American Gold 43.70 unch ASDA Group 2.18 unch Bank of
      2,323 words
    • 1642 20 AFP Q Nikkei 225 -83.M SHARE prices in Tokyo closed 0.5 per cent lower yesterday, hit by profit-taking following recent gains but with market sentiment remaining strong. The key Nikkei Average of 225 selected issues fell 93.09 points to end at 18,181.09. The Topix of all issues in the
      AFP  -  1,642 words
    • KUALA LUMPUR STOCK MARKET
      • 464 21 AFP CI Composite Index -9.48 MALAYSIAN share prices closed 1.1 per cent lower yesterday after some brokerages cut trading limits to reduce their exposure to the market, dealers said. Even when there are no cuts, many dealers are close to reaching their respective
        AFP  -  464 words
      • 8801 21 INDUSTRIALS Consumer products 1999 Last Vol Day Net Cap Hlqh Low Company Sal* '000 High Low P/E Smll 440 255 Ajinomoto 390 2 1 390 390 24.7 158.1 162 46 nnqkasa 146 -7 1643 162 143 215.3 404 220 Apollo Food Hlq 382 -4 222 390 370 13.3 152.8 294
        8,801 words
    • WARRANTS, OPTIONS & REGIONAL MARKETS
      • 153 22  -  WARRANT WATCH -Byl R Sivanithy IN our Monday column that featured the Sembawang Resources warrant, we described it as a decent buy. While the warrant still remains an arguably viable investment option, we did not mention that the company is undergoing an internal restructuring which
        153 words
      • 2226 22 BONOS. LOANS t WARRANTS wt 52-Wk LmI Vol Day Last Ouote Av« High Low Stno Company Soto *or- (OOO) High Low Buyor Sollor Price 104 3 s 3160 -Acer W*****1USS 70 4 645 Tsis" 70 70 7L5 80 4.5 s 3164 Acma ******4 43 -6 1297 51 43 43 48.5
        2,226 words
      • 226 22 HONGKONG STOCKS Or Or 52-Wk Last V* Day Last Ouota Wv Wv YM Nat M Cap High Low Strip Company Sate COOP) Mt» Lai Buyr Sa4ar C'w P/t $<nll 365 173 5123 COL (2000) HM 315 300 330 8 17 U H.7 6098 9 5124 Cathay Pac 20c
        226 words
      • 278 22 AFP □Wellington -2117 NEW Zealand shares ended down 1.1 per cent yesterday as money continued to flow to hotter markets. The NZSE-40 Index was down 23.17 points to 2,174.07 on turnover of NZ$77 million. After the market closed Fletcher Challenge announced a major restructuring. AFP J*U US cooo» Adventaq*
        AFP  -  278 words
      • Article, Illustration
        874 22 AFP Q SET Index -1L62 THAI shares closed down 2.3 per cent in light trade yesterday as investers sold blue chips before the release of quarterly company results, dealers said. Analysts said there was heavy selling in banks and other financial stocks on renewed worries that the central Bank
        AFP  -  874 words
      • 430 22 AFP Q Composite Index -16. 75 SOUTH Korean share prices slid across the board yesterday on late profit-taking sparked by higher interest rates, dealers said. The Composite Index closed down 16.75 points or 1.67 per cent at 987.50. Volume was 361.9 million shares worth 4.8 trillion won. Foreign investors
        AFP  -  430 words
      • 647 22 AFP nAn Ordinaries +13.7 THE Australian share market closed up 0.45 per cent yesterday amid buying in banks, brokers said. The Australian Stock Exchange's benchmark All Ordinaries Index finished up 13.7 points at 3,063.9. The All Industrials Index closed up 34.6 points at 5,311.0, while the All Resources closed
        AFP  -  647 words
      • Article, Illustration
        758 22 AFP □Composite Index -6L93 INDONESIAN share prices closed one per cent lower yesterday, led by sharp falls in Telkom and Indosat on concern that their exclusive provider rights may be revoked earlier than planned. Dealers said a lack of support from regional markets also pressured the index. A dealer
        AFP  -  758 words
      • 335 22 AFP Q Manila -L 72 PHILIPPINE share prices closed down 0.1 per cent yesterday due to signs that the peso was depreciating again, analysts said. The Philippine Stock Exchange Composite Index fell 1.72 points to close at 2.604.49 points. Volume fell to 4.3 billion shares worth 2.4 billion pesos
        AFP  -  335 words
    • 7296 23 Transaction date: Jul 13 j Or Gr m Wt 52-Wk Last Vat Day Last Ouate Mv Otv VM Nat Cap A.g High Law JtNo Company Sal* COOP) High Law Buyer Seller C'vr PIZ $mM Price MUITHMMMTRY 182 17.5 m b 1000 Acma 50c (42
      7,296 words
    • 1489 23 Or Cr M art »> Last Val Oav Lut Ouott Otv Dh> Yld Nat Cap A*g MH» Law StWa ClUMf tt» COOP) >001 Laa> Nur »a8> Cw P/I Prtta manufacturing 218 30 t 2049 AS Auto Kk 179 -2 1176 104 173 179 ISO 10 N 0.6 204.4 180
      1,489 words
    • STOCK EXCHANGE OF SINGAPORE
      • 363 24 Stocks VoIuim Golden Agri USIOc 44,900.000 Asm FoodSProp 28,303,000 Hotung Inv NT5 21,994,000 IPC Corpn 5c 18.577.000 Eagle Brand Hldgs HK75c 14.782,000 ICT HKIOc 13,650,000 *TanChonglnt50c 11,943,000 Samudera 10c 11,566,000 Sin Soon H 10c 11,472,000 •Genting Int 10,923,000 Stocks DBS Foreign 45,651,781 *TanChonglnt50c 29,928,675 0C8C Foreign 27,943,225 Golden Agri USIOc
        363 words
      • 577 24  -  STOCK MARKET COMMENTARY Bull run in small-cap stocks appears to be over, but dealers say selling pressure could be easing By R Sivanithy AS expected, forced selling kept most traders out of the market yesterday and dragged prices sharply lower again, but
        577 words
      • OH THE GRAPEVINE
        • 100 24 AMIDST the upheavals seen In the merger between Union Bank of Switzerland and Swiss Bank Corporation In the last two years, their merged investment banking arm, Warburg Dillon Read, has managed to hold its own in the global markets. It came tops in eleven of Euromoney's
          100 words
        • 78 24 A VILLAGE in China has made stock market history—it has just issued shares on itself on the Shenzhen Stock Exchange. The wire agency AFP said Huaxi Village, famed for its cottage industries, is planning to issue 35 million A shares at 8.3 yuan (551.70) or a
          78 words
        • 158 24 AN investor sent a joke over the e-mail which seems eminently applicable to the stock market. Here it is: A turkey was chatting with a bull. "I would love to be able to get to the top of that tree," sighed the turkey, "But I haven't
          158 words
        • 99 24 A LOCAL public relations firm is looking westward—to India. Home-grown Mileage Communications, fronted by industry veteran Yap Boh Tiong, has just formed a joint venture there. It's set up office in New Delhi and says it plans to open offices in Bombay and southern India by next
          99 words
      • Article, Illustration
        75 24  -  -By Teh Hooi Ling GUL Technologies' share price may experience some more weakness in the short term. The MACD has signalled a sell and a few other directional indicators also suggest further correction. The next support is at $1.50. The long-term uptrend, however, is still intact. The counter
        75 words
  • Page 15 Advertisements
    • 125 15 He made sure our company a /mA jll LEFS m behind.' With the Local Enterprise Finance Scheme (LEFS), IFL, we incorporate the advantages of LEFS into a tailorqualifying locally-owned businesses enjoy favourable made solution that is right for your business now and terms and low interest rates for financing: be
      125 words

  • Page 16 Advertisements
    • 72 16 nrria the worlds leading Swmw OFFSHORE COMPANY AND TAX PLANNING SPECIALISTS Since 1975 our worldwide staff of over 215 multi disciplined professionals including lawyers, chartered accountants, chartered 4 secretaries and hankers have provided 1 confidential and cost effective company formation in all the major low tax areas Incorporation Fees from
      72 words
    • 7 16 CATS. Buy It. Sell It. Find It.
      7 words
    • 40 16 The course of true love never did run smooth. tp With so many beauties on display in V The Straits Times Classified daily, it's no wonder our readers Advertise in the Vehicles section cm c,a,t,s at iB 737 1166 i
      40 words

  • Page 17 Advertisements
    • 72 17 SONY Introducing Sony's VPL-SCSOM. I It stonds up brilliantly at any presentation. jfk 1 For more details. tome visit our website at ktty: //w««.my.(M .sg/professloaal VPI S9OOM VPI X6OOM VPI-XmooM SVGA «XGA *XGA •UXGA 110 c ANSI lumens »600 ANSI Lumens «itoo ANSI lumens «moo ANSi Lumens (JX.( Sony Singapore
      72 words

  • Page 18 Advertisements
    • 1306 18 t M Powermatic Data Systems Limited NOTICE OF TENTH ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Tenth Annual General Meeting of Powermatic Data Systems Limited ("the Company") will be held at 135 joo Seng Road, #08-01 PM Industrial Building, Singapore *****3 on 29 July 1999 at 11.00 am
      1,306 words





  • Page 23 Advertisements
    • 56 23 Multiply your wealth. A| v JKBm The Equity Investment Account from Citibank. Til KA Gives you credit to invest in shares and interest on your positive balance. P* What better way to multiply your money? Call 339 7126 to open an account today. Or visit our website at www citibank
      56 words

  • Page 24 Advertisements
    • 304 24 NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298 NOTICE IS HEREBY GIVEN that I, SERENE NG SIEW CHOO of 370 D Alexandra Road #08-01, Singapore *****7, have applied for a Wholesale Liquor Shop Licence in respect of M/s Eggenberger Singapore Private Limited located at Blk 1 Pasir
      304 words
    • 329 24 Short of cash to invest? Triple your cash with our Margin Financing' Call DBS Investor Online at 323-3955 today 88DBSBANK NOTICE IS HEREBY GIVEN that I, GAN HOCK SEN of Blk 631 Woodlands Ring Rd, *02-206, Singapore *****1, have applied for a Retail Liquor Shop Licence in respect of M/s
      329 words
    • 406 24 NOTICE IS HEREBY GIVEN that I,C. GUNASEGARAN s/o VP CHOCKAUNGAM of Blk 799 Yishun Ring Road, *07-3418, Singapore *****9, have applied for a Public House, First Class Licence in respect of M/s Mantrass Music Lounge located at 24 Cuff Road, Singapore *****5, and that this application will be considered by
      406 words
    • 688 24 IN THE MATTER OF THE COMPANIES ACT. CAP. 50 PURSUANT TO SECTION 290(2)(b) and IN THE MATTER OF PETROIL PETROLEUM ENTERPRISE PTE LTD On Members' Voluntary Winding Up) At an Extraordinary General Meeting of the above named Company duly convened and held at 6001 Beach Road, *12-11 Golden MAe Tower,
      688 words
    • 225 24 IN THE MATTER OF THE COMPANIES ACT. CAP. 50 AND IN THE MATTER OF FRP-WSC JV PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 306 of the Companies Act. Cap 50 that the Final Meeting of the members of the abovenamed
      225 words

  • SHIPPING TIMES
    • 291 25 Bridge News Reuters TRADING was almost at a standstill in the Atlantic Pan am ax trades as both charterers and owners reassessed their positions. A few new mineral cargoes were quoted and many brokers think there is more business yet to be quoted for end July-early August shipment.
      Bridge News; Reuters  -  291 words
    • 280 25 ■wo a w CWT Distribution tSO 002 279 Chuan Hup 126 -0.07 695 Cava investment 1 JO 0.02 200 FreigM LMu 0.41 -OJW ***** OB Holdings. 1.05 0.01 345 Hal Sun Hup 0.86 -0.05 723 IMC HoMkigt-HK 5.60 unch 0 J*ya Holdings 1.01 unch 672 Jureng Shipyard 8
      280 words
    • 438 25  -  Local firm Marine Investment to launch Virtual Chartering, a first in S'pore, in September By S Shivani [SINGAPORE] Ship chartering will soon be just a mouse click away. Local company Marine Investment Co (MIC) is about to launch a website for dry
      438 words
    • PORT Shots
      • 37 25 [LONDON] Hie board set up to advise the Liberian government on maritime policy has been finalised and includes the chairman of the Baltic Exchange Hugh McCoy and Wah Kwong Shipping director Frank Chao.
        37 words
      • 70 25 [LONDON] Mitsui OSK Line, the world's largest shipping line, has completed its 1999 safety audit Sixty four of its fleet ofsoo vessels were inspected to ISM Code and ISO 9002 specifications. The audit has apparently confirmed that the ships inspected all followed MOL's safety policy. It
        70 words
      • 34 25 [LONDON] Dr Hans Payer of Germanischer Lloyd has taken over the chairmanship of the International Association of Classification Societies for the next year. He replaces Korean Register vice-president H C Shin.
        34 words
    • 777 25  -  STRAIT TALK By\ Seafarer THE latest issue of the Liberian Shipowners* Council's (LSC's) monthly Information Bulletin makes for interesting reading. The previous issue caused ructions because its editorial took issue with a speech by International Maritime Organisation (IMO) secretary-general Bill O'Neil in which he
      777 words
    • 142 25 [SINGAPORE] Pan United Shipyard has completed an $8-million conversion project to upgrade an offshore diving support vessel for Breswater Marine Contracting of the Netherlands. Work commenced on the 2,232 dwt vessel, Rock water 2, in April and the vessel left the yard late last month.
      142 words
    • 389 25 Few longshore workers working overtime until wage dispute is settled Reuters [SAN FRANCISCO] Longshore workers at ports along the US Pacific Coast are making a point of slowing production until labour contract negotiations are resolved, officials said. While cargo continues to move, port
      Reuters  -  389 words
    • 1128 26  -  KAOHSITJMO BARBOUR It wants to leapfrog Singapore and Hongkong to be the Asia-Pacific sea transport centre in the next millennium Macabe Keliher in Kaohsiung KAOHSIUNG Harbour is the crown of shipping in East Asia, it will be the Asian-Pacif-ic sea transport centre in
      1,128 words
    • 309 26 PACE Evergreen 6 •AM. 3 FoongSon 8 AASCO 12 Froti 13 Accord 8 WUKa 14 Ahrenkiel 14 6 Link 4 AppensNp 5 G«nvartrans 6 AsiaOCL 5 Genshpg 14 Austral 8 G'T iv M Avant 14 HaiSunHup 12 B'tang Mas 8 Han 9 ,i BSA 7 "•V" 3
      309 words
    • 21119 33 THEBUSINESSTIMES EXPORT ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel voyage Telephone SIN Destn Name Name Number Number SIN Dest'n Name Heme Number Number 22/07 16/00 COSCO EVER GROWTH OOOIW 65 226NOO To ABIDJAN (ABJ) 2003 Cote D'lvolre am 20/00 mol sao paulo challeng 5803a *5
      21,119 words
    • SHIPS IN PORT
      • 675 39 Voy No Berth Arrival Departure Jvwf Nrt W 8 4180 799 J01 13/07/8:40 IV07A3 OO miUVOTJi* ***** J01 13/07/8:30 13/07/1540 Yr 9° *****9 J12 13/07/8:30 13/07/17:00 1 33 J04 13/07/7.20 M/07/6.40 S4trii li ***** J01 13/07/840 13/07/T740 S**«Nnj» K»s99 J» 13/07/925 I3/07/H40 SindtfuM M 57 J02 13/07/9:20 13/07/2340
        675 words
      • 1754 39 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Booklng/MMc* Rstls Ship Voy No Etb/Btr Portod From To From to K*gnoM 0121 16/0700 U U/BOO U/M5* 11/1*00 amoo o/ns* u/noo 2A 13/1700 M/0659 M/OtOO a li/iToo wotn worn 3 14/0700 M/IB* M/MM 4 M/1200 M/M5* 14/1700 tor COM B/MM
        1,754 words
      • 184 39 MM France: National Day. Jul 16 Brunei: HM The Sultan's Birthday. JMSI Belgium: Independence Day. Aag 2 Ireland-Republic Of: August Holiday. Anff Singapore: National Day. South Africa: National Women's Day. Ao( 12 Thailand: HM Queen's Birthday. Aug 15 Belgium.: Assumption Day. Hong Kong: Sino-Japanese War Victory Day. Luxembourg:
        184 words
      • 771 39 THIS report, complied by Cockett Ma rine Oil Ltd. shows price ranges in US dollars Instead of single prices for a more comprehensive description of the mar ket. Prices shown are based on averagesized stem. Market movements are indicated. The Cockett Bunker Price Index change and
        771 words
      • 480 39 Carbon 180 Ma 990.6 2.0 17.1 0.10 76 0.03 M8 Density W»t»r Residue Ask MwMm Sifcwit No above E25 0 1 4 0 0 0 380 Aw 987.4 0J 13.5 0.06 34 0.01 Cum 380 Mu 994.9 0.8 20.8 0.14 183 0.04 W Wo tbovt &35
        480 words
    • AIR & LAND TRANSPORT NEWS
      • 301 40 Bloomberg [SEOUL] Korean Air Co, South Korea's flag carrier, blamed a mystery plane for forcing one of its cargo jets to suddenly ascend over China late last month, narrowly missing a British Airways jumbo jet. Korean Air, which is spending
        Bloomberg  -  301 words
      • 500 40 GETTING READY FOR Y2E Bnt analysts warn airport is interlinked with other systems, any of which may disrupt HE hnb Reuters [HONGKONG] Hongkong's international airport, which opened in chaos due to computer faults last year, says it is ready for the Year
        Reuters; AFP  -  500 words
      • 338 40 First mass cancellation in Europe dne to Y2K worries Reuters [WARSAW] Poland's national airline LOT said it would ground all its planes on January 1,2000, to avoid millennium bug problems, in what is thought to be the first mass cancellation in Europe due
        Reuters  -  338 words
      • 239 40 Bernama [KUALA LUMPUR] Malaysia Airlines (MAS) will be asked to study the possibility of flying to Niigata in Japan, Transport Minister Ling Liong Sik said. He said this followed a request by a delegation from the Niigata prefecture who visited him to
        Bernama  -  239 words
      • 328 40 Reuters [HONGKONG] Boeing Co said it was confident its relationship with China Southern Airlines and with the country's flag carrier, Air China, would weather a possible merger of the two. Boeing officials said both airlines mostly use Boeing aircraft and
        Reuters  -  328 words
      • 1543 40 CITY FU6MT ETA FU6HT ETD MoMto S0230 1850 Hit Tal MI891 mO W892 0735 y n* T6407 1540 T6408 IMP iMttr«h KLS43 0435 IUB38 2300 m ATM 2135 $023 0705 $0328 2325 WiiiMbi SOWT 1650 SOW» QUO 6*973 0945 Ho CM MM) VH741 1310 VH742 0905
        1,543 words
      • 106 40 [SAO JOSE DOS CAMPOS, Brazil] Assembly line workers at the Embraer headquarters put the finishing touches on a regional jet made for American Eagle in Sao Jose dos Campos, located in the state of Sao Paulo. Embraer crowned its rags-to-riches turnaround last month with sales
        REUTERS  -  106 words
      • 307 40 Reuters [FRANKFURT] Lufthansa Cargo will raise its air cargo rates by an average of 10 per cent from Sept 1, a senior manager said. The increases will vary depending on countries of departure and destination and on market conditions. The new rates will
        Reuters  -  307 words
  • Page 25 Advertisements
    • 27 25 Kaohsiung aims to be world's No 1 It wants to leapfrog S'pore and HK to be the Asia-Pac sea transport centre in the next millennium. Page 2
      27 words
    • 225 25 HE airport fully Y2K compliant But analysts warn airport is interlinked with other systems, any of which may disrupt HK hub. Baok Pa#e ?j| bhu X~~ ,j^HMr p& n >^.wSbl Br v tS I A'^Sfte Z'l£*&&'., j;. ,> ml 2B The direct link to your best prospects Here's an excellent
      225 words

  • Page 26 Advertisements
    • 1166 26 I NORTH AMERICA 1 I EXPORT I OTHtR DSSTINATIONS I SSX.SUPBiaHUmHWHWt-OtCTTOm I ill 1 *ssa vwrpu3i|mai iomnaoi muas hokum ohwo mwton ■moorr vb» _wr_ IM wjgm tjjßL SMtaHOO co—ito| rr (aimu m«aymtma'| saum ohb ooauwna 585 I 21/07 I 11/ v 575 i575~~TT75 n75 ii7s it/U |li iw nm 11/
      1,166 words
    • 732 26 /C& »»o\ L,nes serv, ces represented M H01;; 0y MernDers <* Registry of Hjjjf.l Singapore Freight Forwarders Accredited Shipping Agents fijaU Association Singapore Shipping Association SULY UNI MALE [VKSa VOY ETA |~ITA HA P. KIAMG SfOtE -All Empress Lily V 0399 24/07 25/07 01/08 Empress lily V 0499 10/08 11/08
      732 words

  • Page 27 Advertisements
    • 1141 27 TO EUROPE FROM EUROPE VKSa VOY j S« mt AM HAM «V SOU FIT tfH 1 IvESSEI voy m Ml HM> WV SOU KT UH SW OK SS4W 15/0/ 07/00 04/00 05/00 02/00 DANUK $451 26/06 23/06 24/06 21/06 15/07 MOt MS 010W 16/07 01/00 03/00 04/00 07/00 HY FEDEKAI
      1,141 words
    • 2205 27 C»it— m WvWa twin: 1 Haary!■■ -Mis *****75 60 HANJIN SHIPPING ML*-1 U 4 tk Mfa Lm Sar *****30 HAHWW SHIPPING 5) rn LTD *»//wm M« <m BOtlMi ********** SALES *****74 731 POQJMEIH *****71 774 OftUTKMIS ********** WW UK *****55 FU 777W40 QUO *****t*****M |TO NW USA A CANADA USA
      2,205 words

  • Page 28 Advertisements
    • 1577 28 DSR-SENATOR LINES TO UK/CQNTfNENT TOMEDITERRANEANCANADA Vt»a VOY MM LEH HTM AM HAM MV FU Ktttl VOY IW PIT IK Hit H.C MTW HAMJM SAVANNAH WQB3O MO7 30 07 tin »07 30 07 tl K JAPAN SENATOR WMUO Ml 7 807 7717 70 07 11 17 MM HANJMBARCELONA WNMI 1117 M.17
      1,577 words
    • 905 28 mJkM MAC-nels S PORE M'SIA Carrier; MH COtrrn LINES, INC P.OUOANQ: f 0 *****26 1 Ivv J QW MOi IHTWOOW 8BU: (084) *****9 MANILA: (632) *****24 PBIANQ: (04) *****36 BANGKOK: (662) *****67 SURABAYA: (31) *****11 P- KELANQ: (03) *****77 JKT: (21)*****46 *****0(062)*****1-3 MADRAS VANCOUVER MV "SINAR TIMUR" V.016 MV "HJ
      905 words
    • 642 28 W*iWS\ EXPRESS CONTAINER FEEDER FOR N.SHEVA/COLOMBO VMMI SPORE H SHCVA COLOMBO P KLAN6 TULSIOAS W ill 11 JUL Tl JUL 83 AUG M KM B MAS TIGA VIIBW 28 JUL 83 AUG ISAM IS AUG CAPE CANAVERAL VIBBW 82 AUG 18 AUG 17 AUG 22 AUG TULSIOAS V 112 88
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  • Page 29 Advertisements
    • 1500 29 [vessel voy khh hkg sin pko pqb dxb dmm Iba BIK IRAN LORESTAN PCL-5110 07/07 09/07 13/07 14/07 23/07 24/07 25/07 27/07 29/07 IRAN TEYFOURI PCL-5111 14/07 16/07 20/07 21/07 30/07 31/07 01/08 03/08 OS/08 IRAN BAAKERI PCL-5112 21/07 23/07 27/07 28/07 06/08 07/08 08/08 10/08 12/08 IRAN SHAHRYAR PCL-5113
      1,500 words
    • 1790 29 kly Dirt<t Calls l« Kobt (4 kyi)J Nagoya (7 Days) Tokyo (S Days) I SINGAPORE'S GENERAL AGENTS: 80 ROIINSON RD TU: 226 1900 FAX: *****08 OUTWARD (B/l) *****02 iOHOßEOfFia^^^^^^^^^^| COSTAR SHIPPING PTE LTD #12-00 SALES/ikgs *****57/60 INWARD DEPT (D/ 0) *****85 COSTAR AGENCIES (M) SDN BHD CR WO: **********0 M
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    • 621 29 CHINA SHIPPING (GROUP) COMPANY J CHINA SHIPPING CONTAINER LINES CO., LTD. FAR EAST EUROPE FULL CONTAINER EXPRESS SERVICE WESTBOUND (FIXED WEEKLY SERVICES] VSI VOT XOO Q>N SMA HKG I S'PQgt I RTM HAM FXT .SFA BSIGHT 9903 05 07 JU 09 Jul LZJIi LSJuI Q4 Aufl ULAuU 07 Aug PAN
      621 words

  • Page 30 Advertisements
    • 1402 30 EUROPE AJKTSCAHDINAVtA/HHLAHD/RUSSIA SGP RDM ANW HBG THP ZEE LHV LHV THP RDM ANW HBG PKL SGP E DEVOTE RW-007 17/07 05/08 11*8 07/06 09*6 10AM 11/04 E RIGHT RE 039 22/06 24/06 23/06 23/06 27/06 16*7 17/07 E DEVELOP RW-007 24,07 ***** 16/06 14/06 16AM 1706 16AM E REWARD RE
      1,402 words
    • 1458 30 PACIFIC INTERNATIONAL UNES (PTE) LTD IaSSSSB IAI 140 Cecil Street, #03-00 PIL Building, Singapore *****0 I B CR NO **********0E I II*B» w ml m H>f sn> m m ia rn. HI IM I I lii lift Mz M m I iYA IM KOTAfBWWU PWtO35 17/7 »t/7 M/ 7 11/7
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  • Page 31 Advertisements
    • 459 31 BSA n. mm. MYANMA wßm. FIVE STAR LINE (Myaimor Notional Lim) ■Loading for Tango* (Rongoon) VtSSEI VOY Sl* PKI PtN PGU SAGAJNG 40W SU PAGAN 264W SU MALAYSIA AGENTS: IOUSTIAD SHIPPING AGENCIES KUL Til (03)241/300 PKI: TU (03) 376*101 PEN: Til (04)2****** PGU; TH (07)*****21/4 BANK LINE (A s*rvic* of
      459 words
    • 1291 31 HMHW I HYUNDAI MERCHANT MARINE CO., LTD. IVBSB VOY ISN 1 SOU IB! RIM ANT NAM MV FB. IVBSB VOTI SOU I IB« ITO I ANT I WMI 1 MV 115" SM BM SS4W 15/07 02/01 07/01 04/01 05/08 TYM 52M 25/04 24/04 20/04 22/04 14/87 NOL MS 010W 14/07
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    • 1125 31 WALLENIUS WILHELMSEN TO NORTH AND UTIN AMERICA "CAR RORO HEAVYUFT StRVICt" VfSSCL VOT RAMP HEIGHT SIN LAX CKL NUA SAV Ml ORF NYC NEW MOI TEXAS AHOI 4001 mm 6.3 M IMPOST 09/01 IS/OS 21/ OS 23/ OS 2S/0S 26/08 28/08 01/09 07/09 TOO* AHO2 4001ns 6.3 M 2S/07 2S/0S
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  • Page 32 Advertisements
    • 778 32 BANGKOK/MAP TA PHUT/LA EM CHABANG JAKARTA/PAN JANQ VESSEL VOY SIN BKK MTP LCH VESSEL VOY SIN JKT PJN NANTABHUM" 454N In Pt 17/07 18/07 GURU BHUM 137S In Pt 18/07 YANTRA BHUM 299N 15/07 18/07 17/07 GURU BHUM ***** 16/07 18/07 KOTA HARTA HTAO4S 15/07 18/07 AKA BHUM+ 3S2S 17/07
      778 words
    • 359 32 INDONESIA NATIONAL LINE TO AUSTRALIA FULL CONTAINER BB*VICE va |YPT|f« a m—um i» ls/vi;/w I»/p «/w|«/i>[m/w usumi m n/vn/v w/Jb/bU/mT- »/b noißMann ros w/t73i/w b/b |ivbL/b w/bh/b MKTBWBHBt PS n/w|»/w|n/w »/B FEEDER SERVICE TO INDONESIA wi voy sron suuun uiwut suurajk w yor awctfOM gag mtum ru atg re-no UMMUtC
      359 words
    • 752 32 VESSELS VOY SX PKL J6D MLA LEH RTM HAM Zg SOT VXED6VWQO S32W 20/07 21/07 29/07 03/08 08/08 IMB 12/06 IMB 15/06 SAUP JEDOAH N32W 2M77 27/07 0&Q8 ICVOe 16/06 WAX 19/06 2&08 22/08 VM-LC DE SHANGHAI H32W 03/08 04/06 13AB 18/08 23/06 24/08 28/08 27/08 2M36 VU-E DORtON Y32W
      752 words

  • Page 33 Advertisements
    • 47 33 I WALLENIUS WILHELMSEN Calling More Than IbUmIHI 1500 Worldwide Destinations. Turn To Pg 7 Daily Find out more on Pg 13 FROTA GLOBAL INDIAN OCEAN JOINT SERVICE SHIPPING AGENCIES? To L k Under hai sun Hup AMAZON Pg 13 ON EVERY MON/WED/FRI P 12 0N EVERY MON/WED/FRI
      47 words


  • Page 35 Advertisements
    • 49 35 SBBHBiBJ a\ t^ Dial 740-6000 Ofl G€lT)dnG —(Retrieve more schedules!) Press "1" Select the port and key in Si»J the four digit code eg: To New York (NYC) 2275 Key in your fax number I your phone number Another innovative service offered by The document Wjll be Shipping Times
      49 words

  • Page 36 Advertisements
    • 157 36 (FOREST PRODUCTS SERVKE) Service For Christmas Island/ t remande Com Island) EUROPE SERVKE I "Abo call other west Australia ports subject to inducemen j TAW SKN KKU TMA viSStt VOY. SIN CXI FMI COS RUOIN STELLA V3IA 30/07 02/09 OS/OS ■WOK* IWWM./m. IHOIMSTiN .ISO 16/07 30/07 07/01 17/00 MALAYSIA HSH
      157 words
    • 171 36 liiii'ii n^^»TTT^TTT¥TTTTTrTTTTTTTTP7T?7¥TF^MiB line *j fll L b.Vj f,' p>] LIBYA TOBRUQ BKNGHAZI MISURATA TRIPOLI luuJ iyissawAMil vot wo an wc ou too mi lon Irm I h lus I m TFfTOUB Sill STKUUSTM 70/07 71/07 31/07 MHW 07/01 17/W M/W H/W 17/ M jMjtt SI 17 ÜBYAN It AM 77/07
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    • 156 36 ESP LINES WfUir ICI AMD Kl SHVKt mmuuKom MLM mm OfTTAMM MAMAS lAMKX.MMUM NAMMCC MTTBtAB KMMAT, COUMUO JAIACTA, kUU AKTWBT, FRDSTOWI (AtCPTTA HOCHMH.NAIBM »tCUUU> COWTAJNHttSB) IWPOWESUM SgVKI I WSSa/VOTAg STOM JW S SM SCAIW/W4 am WMMI/ICMK TVU Mk spume/m a/w vm w* ram i /X4i-Mi SB ir/t> wv WMH/mjum wu
      156 words

  • Page 37 Advertisements
    • 783 37 m SAMUDERA SHIPPING LINE LTD HIHIH 72 Anson Road, Anson House #06-01 to 03, Spore *****1 CR NO. **********00 TEL: *****88 FAX: *****29 (OUTWARD) 5322t83-4 (INWARD) /*****10 (IMPORT STATUS) TLX: R*****0 BOOKINGS CALL DIHECT LINE: 535 6266 Cotla/Josslca/Mol Chan/Jatlynn/Dora/lvy/Hanlm 8 SLGS/WEEK QBSESIBH EVERY 4 DAYS VESSEL VOY SIN JAK r™-
      783 words
    • 863 37 SIN TO SRI LANKA, INDIA, CANADA, US/EC/GULF, MEXICO KG ml IT lUilim W, I fil I ton I UAI 1 MYI In« I u0.7" HPWHPTH/W? O;/D; I?/O; H/O; ?I/O; 04/QQ W/Q; W/OI 13/01 07/09 10/09 11/09 15/09 19/09 14/00 M/ 09 MSSiUmWMiI 03/00 09/00 13/00 IS/M 15/00 10/00 01 /09
      863 words
    • 108 37 SHIPPING* WAREHOUSING Baton: Singapwv UaJmg EXuK Men to Sal (BATAMINDOI/UI) Accepting KIX wiyenbonal/Prnject/Heavy Ijft Cargo Reefer Container Battoa: Singapore (anting Moa Wed &Fn (BATAMINDO U) Accepting K1 A'onvenbonal/Pluject Heav> I aft C arpi Teh 227 0322 Fax: 222 9330 Baton in do Shipping ft Pt« Ltd 7k lUpfl «—i P»t»
      108 words
    • 608 37 rrr# Singapore Soviet Shipping CPL k\\« aD* lOOSOMOOOOM MwltSine Skipping Pi W33) s*teyi OhiranMK VISSfI VOY SM KM PNG HL UMH 132N 17/07 23/07 TU 03/00 KOTARUKUN RKNO43 19/07 20/07 TU 04/00 1 KOUIATU RTUOSI 31/07 TOA 11/00 Vtisa VOY UN CALCUTTA WW SEA SUCCESS 1 17SV 17-10/07 22/07 02/00
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  • Page 38 Advertisements
    • 567 38 I VESSEL VOY SIN MAA SIN I TIGER BAY 722N 18-19/07 23-28/07 02 03/08 TIGER ISLAND 723N 21 22/07 27-01/08 05-06/08 I TIGER PEARL 724N 25-26/07 30-05/08 10-11/08 I TIGER SEA 725N 28 29/07 03-07/08 11 12/08 I TIGER BAY 726N 07 11/08 16-17/08 TIGER ISLAND 727N 05-06/08 11-16,08 2&21/08
      567 words
    • 979 38 FREIGHT LINKS EXPRESS Tel: *****11 Fax: *****77 E-mail: flesin@singnet.com.sg REMOVAL NOTICE We are pleased to inform all our clients, agents associates that with effect from 12th July 1999, our new address contact no. will be as I follows: FREIGHT LINKS EXPRESS PTE LTD 51 PENJURU ROAD 3RD LEVEL, FREIGHT LINKS
      979 words
    • 1266 38 OCXL (Singapore) Pte Ltd CFS Keppel Distrpk 65 CUb St OCK Ctr #42-00 *****13 Bfc 513 #01-128 M %1 at NO **********0 M W: 272 7827 1 VL W: *****83 Fax: 438 2966 Fax: 272 782 St rff<rrfr Orient Overseas Container Line la r>' a sd n ®"8 No: *****2-14
      1,266 words

  • Page 39 Miscellaneous
    • 138 39 222 100t \^*^l^%S^)s LEGEND R Thunderstorm Temperature o c X\ V Shower Weather Wind direction with speed in knots Rom Cloudy Sky Wav h *'9 h Surfoce winds ore indicated by arrows which fly with the wind One tun circle represents colm or light and vonoble winds i_ One halt
      138 words