The Business Times, 6 November 1999
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1999-11-06
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The Business Times
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Title Section11 1999-11-06 1 THE BUSINESS TIMES Internet: http://business-times.asial .com.sg/ SINGAPORE SATURDAY, NOVEMBER 6,1999 85C11 words
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Article67 1999-11-06 1 Dsn 211L56 (+1.61) il BT-SSI U ***** (+1.44) □sncsci futuies 210.40 (4.40) STOCK MABKET INDICES Friday Change KLSE COMP 721.35 -6.23 NIKKEI 1«;J54.9U +6.77 HANG SENG 13.610.27 -41.24 SET INDEX 418.47 -1.42 JAKARTA COMP __626.04 +7.53 MANILA COMP __2.018.41 -8.01 TAIPEI WPI 7.488.26 +19 03 SEOl'L COMP -813.0967 words
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Article79 1999-11-06 1 FOREX BATES us$ ss I'SS 1.668 £(lSS/SSppr£) 1625 1710 ElROflSS/SS per E) 1038 1.791 DM 1.884 0.885 YEN 1051 1.588* RM 1800 U.439 HKS 7.771 0115 BAHT 3854 O.Ott RIP1AH 6.790 0.025 St«o 100 units PRIME RATES SINGAPORE* 580 KUALA LUMPUR 7.25 JAKARTA 4000 BANGKOK 10.00 MANILA 11.00 HONG79 words
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911 1999-11-06 1 Harish Mehta - llexclusive Stakes in 6 Thai brokerages account for 25% of market's trading volume From Harish Mehta in Bangkok SINGAPORE broking firms are now the biggest foreign investors in the Thai securities industry, with stakes in six Thai brokerages accounting for 25 per911 words
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386 1999-11-06 1 Tough call for US central bank in Nov 16 meeting Reuters [WASHINGTON] The US unemployment rate fell to a nearly 30-year low in October but the pace of hiring was moderate and wage growth was tame, making the Federal Reserve'sReuters - 386 words
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Article, Illustration107 1999-11-06 1 [SINGAPORE] This is part of the newly-revamped Cuppage Mall, where visitors are greeted with dancing lights choreographed by fibre optics and lots of water. Aptly named the H2O Zone, it runs through to Orchard Point, Cuppage Terrace and Starhub Centre. Developed by Somerset Holdings, the107 words
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561 1999-11-06 1 Catherine Ong - This will allow them to set np companies with limited liability Ztyi Catherine Ong [SINGAPORE] The government said yesterday it will pass laws within a year to allow public accountants to set themselves up as companies with limited liability. The announcement by Finance561 words
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Page 1 Advertisements
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Advertisement62 1999-11-06 1 DBBPE Top stories is fighting back. Next Page Hong Leong in talks to buy over Seoul Hilton Hotel from Daewoo. Next Page Banking staff in job switching merry-go-round. Pg 3 Asean laws must keep pace with globalisation: PM Goh. Pg 6 mi iggiPF The look of the next millennium. Pg62 words
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Advertisement8 1999-11-06 1 Profile of Indonesia's Alwi Shihab, Pg 10 W^J8 words
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Advertisement196 1999-11-06 1 CHRONOMASTER yellow or rose-colored case in 18 K gold or steel, chronometer-certificate, five year international guarantee. Equipped with the legendary ZENITH EL PRIMERO movement, the only automatic chronograph movement to beat at 36*000 alt ./hour. Chronograph functions coordinated by a column wheel. ZENITH is the Swiss Manufacturer the most often196 words
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ON THE grapevine
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Article99 1999-11-06 2 GUESS what locals at DBS call themselves? The Singapore managers at DBS Bank have retained their sense of humour even as they lose out in the top jobs to foreign talent. The bank has been at the forefront of the government's efforts to recruit the best and brightest99 words
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Article77 1999-11-06 2 BILLIONAIRE tycoon Kwek Leng Beng has scored a hat trick roping in ex-Hilton staff. First he recruited Hilton International's former chief operating officer John Wilson to help him run his Millennium Copthorne Hotels group. Mr Wilson then roped in another ex-Hilton man, Franz Zeller, as general manager77 words
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62 1999-11-06 2 IN response to customer requests for high-capacity storage devices at Changi Airport's Internet cafes, lomega Pacific Pte Ltd has installed Zip drives at the airport's CyberNet cafes. Palm-sized Zip disks can store the equivalent of 170 floppy disks, letting business travellers download big Internet62 words
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Article, Illustration444 1999-11-06 2 Kalpana Rashiwala - By) Kalpana Rashiwala [SINGAPORE] Australia's Lend Lease group and News Corp's Fox Entertainment Group controlled by Rupert Murdoch are exploring the feasibility of developing a filming studio-retail-enter-tainment project in Singapore. This will be styled after their As4oo million (*****.8 million) equal444 words
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Article, Illustration499 1999-11-06 2 Conrad Raj - Negotiations are exclusive; price expected to be in excess of USs2lsm By Conrad Raj [SINGAPORE] Singapore's Hong Leong Group is in exclusive negotiations to buy over the Seoul Hilton Hotel from the financially troubled South Korean chaebol, Daewoo. No price was499 words
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Article, Illustration843 1999-11-06 2 Quak Hiang Whai - Lai Sun chairman finds himself in court battle in Taiwan and in board battle at ATV From Quak Hiang Whai in Hongkong LIM Por-yen is fighting back both in the court room and board room. The 84-year-old Hongkong media and property tycoon was yesterday843 words
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Page 2 Advertisements
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Advertisement102 1999-11-06 2 HTfjpSDKTnPVSpHHI^^I a I ?-»T j ll ill ji fF|j|W COLLECTIVE SALE > /U T7 1 BY TENDER FREEHOLD LAND S Land area: 42,680 sq ft Legal Description: CT' VOL 266 #U site CT^' FOL 173 LOT 3796 A MK22 J; Easily Accessible to the CTE L Walking distance to future102 words
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Advertisement83 1999-11-06 3 Group In Association With f INDONESIA FORUM 1 The New Indonesia The New Cabinet: Policies and Personalities Foreign Investment: Prospects and Perspectives Foreign Relations: ASEAN, Singapore and Australia Regional Autonomy and Natural Resource Development Expert Speakers: Dr. Dewi Fortuna Anwar Former Presidential Advisor to B.J. Habibie Foreign Affairs Specialist, Indonesian83 words
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Advertisement197 1999-11-06 3 Introducing an exciting new experience in dining! pearl river palace offers you ALa Carte: $6.80 nett per dish *Jkr? *lJ>jKLi m Choose from an astounding array of 92 exciting dishes including Steamed Pomfret With Bean Crumbs, Deep Fried Butter Prawns, Stewed Duck With Ginger in Claypot and Baby Abalone Clams197 words
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SINGAPORE companies
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276 1999-11-06 3 Move to ensure orderly winding down of dormant unit IPC Corporation yesterday said its wholly-owned dormant subsidiary Corex Technology has obtained a court order to be placed under judicial management. The move for the unit, which used to distribute computers and computer276 words
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Article, Illustration594 1999-11-06 3 Siow Li Sen - It's crucial to get the right marketing and service-oriented people from a limited pool By\ Siow Li Sen THE season of poaching has never been so fierce. People are switching banks, not even bothering to wait for the traditional year-end bonuses although it's less594 words
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744 1999-11-06 3 r sivanithy - i: ['Unlock siew r sivanithy EARLIER this week, Shan-gri-La Hotel Ltd announced that its attempt to change the way it depreciates its hotel assets has met with resistance from the Institute of Certified Public Accountants of Singapore (ICPAS). In essence, the company744 words
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142 1999-11-06 3 Reuters SINGAPORE Press Holdings Ltd (SPH) said yesterday that US Capital Group Companies Inc's stake in the newspaper group has been raised to 5.5 per cent, or 20.07 million shares, from 5.49 per cent previously. In a declaration to the Stock ExchangeReuters - 142 words
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Article, Illustration360 1999-11-06 5 Kalpana Rashiwala - coLLECTivFmrr» It will pay $37.5 m; the listed group has also bought two adjoining sites li,j Kalpana Rashiwala KEPPEL Land has bagged Chen Yuan Building at River Valley Road for $37.48 million. This is next to Dragon Pearl Apartment and River Valley View which itCHRIS LOH - 360 words
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COMPANY Briefs
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35 1999-11-06 5 DBS Realty has bought another 6,000 shares in Sea View Hotel, raising Its stake to 23.85 per cent The shares were bought for about $10.77 apiece on Thursday.35 words
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40 1999-11-06 5 DBS Land said its 51 per cent unit Esmaco Pte Ltd has taken up a 100 per cent stake in Esmaco Property Services (Shanghai) Ltd which has a registered capital of U*****,000 (*****,555).40 words
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119 1999-11-06 5 STRIKE Engineering has clarified that the $7.25 million new factory which it has an option to buy is three-and-a-half times the size of an existing freehold factory it bought in May this year for $2.4 million- This existing factory was originally intended to be119 words
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35 1999-11-06 5 SINGAPORE Computer Systems Ltd said its 80 per cent unit, SCS New Zealand Ltd, has subscribed for all the one million shares in management consultancy Champagne Consultants (1999) Ltd.35 words
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Article95 1999-11-06 5 SOMERSET Holdings has bought two new units, Somerset International Investment Pte Ltd and Somerset International Management Pte Ltd, through an asset swap arrangement. It has also changed the names of five subsidiaries. Cairnhill Place (1999) Pte Ltd Is now Cairnhill Place (1999) Ltd; Funan IT Mall95 words
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58 1999-11-06 5 CSA Holdings Ltd said its takeover offer for the remaining ordinary shares in Computer Systems Advisers (M) Bhd has been extended for another 14 days and will now close at spm on Nov 22. To date, CSA has 23,709,850 shares representing 59.42 per cent58 words
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Article465 1999-11-06 5 Ling Su Ann - Laminated flooring maker offering 50m shares to the public at 25 cts each By Ling Su Ann CHINA-BASED Asia Dekor Holdings yesterday said that it will raise US$l3.B million (Ss23 million) in net proceeds from its initial public offer (IPO) of 138 million shares.465 words
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184 1999-11-06 5 KEPPEL Corp has completed its purchase of 90 per cent of Kepital Holdings as part of a move to unwind cross-shareholdings in Keppel Tat Lee Bank. Keppel yesterday said it bought the stake from subsidiaries Keppel Fels Energy Infrastructure. Keppel Marine Industries and184 words
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213 1999-11-06 5 SMALL investors who wanted fewer than 10 lots of Asia Power shares will get about 30 per cent of the public tranche of the company's initial public offer. The Singapore-incorporat-ed company, which operates three power plants in China, offered 16 million shares213 words
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Article128 1999-11-06 5 Bridge News [SINGAPORE] National carrier Singapore Airlines Ltd (SIA) yesterday announced that its overall load factor rose to 73.2 per cent in September from 69.6 per cent a year ago. The load factor measures how efficiently an airline uses its passenger and cargo capacity.Bridge News - 128 words
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SINGAPORE markets
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Article475 1999-11-06 4 Stock# Volume Golden Agri USlOc 17,869,000 Somerset 50c 16,038,000 TAC B*****0 15.230,200 Asia Food&Prop US$ 12,198.000 SingTel 15c 10.496,000 "Genting Int 10,022,000 TIBS WtOO 8.438.000 PanpacMediaCom 5c 6,114,000 Somerset W*****1 5,731,000 Pertama 25c 5,341,000 Stocks TAC Bt***** 42.673.367 OCBC 42,183,011 DBSGrp 41,594,846 SIA 35,076,319 City Dev 50c. 32,242,700 SingTel 15c475 words
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Article, Illustration570 1999-11-06 4 r. sivanithy - I=ll comment STOCKS r.sivanithy WITH most market players' short-covering probably all done by now, the local stock market yesterday lost its upward momentum and ended the week on a quiet note. This left house traders as the market's main source of activity and although570 words
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Article, Illustration183 1999-11-06 4 R Sivanithy - WARRANT WATCH By R Sivanithy WE'LL continue our review of close-to-expiry warrants with SPP's instrument. The pricing of this warrant is in stark contrast to GK Goh's warrant which was featured here yesterday. Even though SPP's warrant is in-the-money, it has183 words
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Article, Illustration246 1999-11-06 4 Teh Hool Ling - HOT STOCK By' Teh Hool Ling DBS Land shares are seeing profit-tak-ing, and the charts suggest further price weakness. The counter closed four cents down yesterday at $3.18. A total of 3.8 million shares were traded, against the 10-day average of 3.8 million. Yesterday's246 words
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Article132 1999-11-06 4 Saturday, Nov 0 Singapore ♦9am. 4th Asean Law Ministers Meeting ♦9.15 am. Land Transport Authority launching of the Buklt Panjang LRT systems and opening of Ten Mile Junction by Deputy Prime Minister Tony Tan ♦12pm Luncheon talk by Indonesian President Abdurrahman Wahid Monday, Nov 8 Australia Bfelboornw132 words
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341 1999-11-06 4 Reports, Fed officials' comments suggest interest rates won't be raised Bloomberg [HONGKONG] The Hongkong dollar forward market strengthened on rising optimism that the US Federal Reserve will not raise interest rates this month. Expectations of higher US interest rates have faded as reports showingBloomberg - 341 words
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Page 4 Advertisements
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Advertisement71 1999-11-06 4 JL Asia Dekor Holdings Limited (Incorporated in Bermuda on 7 September 1999) INITIAL PUBLIC OFFERING 138,000,000 Ordinary Shares Issue Price: US$O.l5 each Placement Share 550.25 each Offer Share Applications for shares under the public offer may be made by way of printed Application Forms or Electronic Applications as referred to71 words
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Advertisement20 1999-11-06 4 Want to talk investments with your peers? Join our forum at "http://iol.dbs. com.sg" gj| )|>SBANK TIIKIiIKINKSSTWFS R fIQITC Shipping Times20 words
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Advertisement269 1999-11-06 5 i p www.prostock2ooo.com H I /Mssim\ IVim S I s^ ro ,l |j ..andbe* gf I the ON-LINE STOCKmarket System thot provides you tke competitive H edged LuJ ProSTOCK 2000 Feature! H Slock Quotes -Al MAIN. SESDAQ&OTC M Portfolioi Unlimited Portfolios Management w/Password Security B Selected Stock Lists Unlimited Grouping269 words
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Advertisement493 1999-11-06 5 NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298 I NOTICE IS HEREBY GIVEN that I. TEO KLM BEE of Blk l66Tampines St 12.*04-327 Singapore 521 l66,have applied for a Ist Class Beer House Licence in respect of M/s Alfo Impex Pte Ltd located at 146, Market Street,493 words
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Advertisement215 1999-11-06 5 NOTICE IS HEREBY GIVEN that I, U QUANCAI of 11 Lengkong Dua Singapore *****5. have applied for a Retail Liquor Shop licence in respect of M/s EDI Enterprise (S) Pte Ltd located at 141 Sims Ave Singapore 38"'463. and that this application will be considered by the Liquors Licensing Board215 words
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SINGAPORE news
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487 1999-11-06 6 Audrey Tan - He suggests review to beef up region's legal cooperation and legal infrastructure Ry. Audrey Tan ASEAN should review its legal cooperation to make sure its economic programmes are not impeded, Prime Minister Goh Chok Tong said yesterday. He suggested reviewing Asean's487 words
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223 1999-11-06 6 FORMER presidential adviser Dewi Fortuna Anwar and the president of the American Chamber of Commerce in Indonesia James Castle will be the speakers at a half-day forum to be held in Singapore on Thursday at the ShangriLa Hotel. The forum223 words
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333 1999-11-06 6 Toh Han Shih - By 1 Toh Han Shih AN incubator to hatch startups in speech and language technology was launched yesterday as a joint venture between the National Science and Technology Board (NSTB) and Sail Trust, a Belgian technology organisation. Language and speech technology333 words
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Article161 1999-11-06 6 NTUC Income has reported a $650 million investment gain for the first nine months of the year. The cooperative said it made $234 million from investment gains and writebacks and a further $416 million from a rise in existing stock market investments, a TV news161 words
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Article, Illustration485 1999-11-06 6 Andrea Tan - OCBC, UOB, Keppel T&tLee staff will be on 24-hour standby Hy Andrea Tan THE head honchos at three local banks OCBC, UOB and Keppel Tat Lee are staying put in Singapore to celebrate the new millennium. No ushering in the newSIEW YAW HOONG - 485 words
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Article, Illustration125 1999-11-06 6 A FRIDGE with Internet capabilities is a reality today. One such fridge, called Screenfridge, was showcased at Plaza Singapura yesterday by Electrolux, a major Swedish producer of consumer appliances. However, Screenfridge is now only a prototype. When it will be commercially available and its125 words
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349 1999-11-06 7 Marissa Chew - STB sets np 8-member panel to act as guiding force i*(, Marissa Chew IN line with steps taken by other industries, the Singapore Tourism Board (STB) has formed a panel of international experts to guide its efforts in making Singapore a349 words
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524 1999-11-06 7 Tan Yew Soon - MAILBAG Tan Yew Soon Head/Public Affairs Ministry Of The Environment I REFER to your article "No postponement for new vehicle emission standards" (BT, Nov 1, 1999). The article said that most motor vehicle importers feel the authorities could do more524 words
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Article, Illustration707 1999-11-06 7 Tan Su Yen - Classic, clean cats and, above all, panache will be the new hallmarks By' Tan Su Yen CONFIDENCE will be all you need to show off your crowning glory as the New Millennium dawns. At the recent Salon Mondial de la Coiffure in Paris the707 words
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Page 6 Advertisements
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Advertisement1205 1999-11-06 6 plfo ENG KONG HOLDINGS LIMITED Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the Fifth Annual General Meeting of the Company will be held at Ficus 1, Jurong Country Club, 9 Science Centre Road, Singapore *****8 on Thursday, the 25th day of November 1999 at 10.30 a.m. for1,205 words
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Article4367 1999-11-06 7 Net Mm CM Llnd-Jecorberg Sep 06 I ***** 10.236 7.40 6 50 D»«a TY LY TY LY Lion Mam Sap 23 P 1.957 4 766 OAS 2 06 Campany ann gg ($m) (cts) (cttl U Xin Sep 13 I 3.228 0.78* tlO 031 Lum Chang S«p4,367 words
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Advertisement37 1999-11-06 7 E-mail: btletter(asph.com.sg You can email us at btietterQsph.com.sg, fax to us at *****71, or mail your letter to The Business Times, Times House, 390Kim Seng Road, Singapore *****5. Please give your full name, address and telephone number.37 words
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MALAYSIA news
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182 1999-11-06 8 KUALA LUMPUR AFX-Asia MULTI-PURPOSE Bank Bhd said its merger committee is still working on merger plans. "We are still working on this matter. The merger working committee is still working on it. It is still in progress," chairman Abu Talib Othman told reporters yesterday. AskedAFX-Asia - 182 words
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463 1999-11-06 8 KUALA LUMPUR From Oct 13-20, net outflow was RM555m compared to average RM94lm weekly Reuters FOREIGN portfolio investors pulled more money out of Malaysia last month but the pace of withdrawals slowed, according to official data released yesterday. Cumulative net portfolio outflows sinceReuters - 463 words
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423 1999-11-06 8 Ruth Wong - Lower loan loss provisions, higher fee income cited hYom Ruth Wong in Kuala Lumpur FINANCIAL group AMMB Holdings Bhd swung to a net profit of 180.6 million Malaysian ringgit (5579.2 million) for the first six months ended Sept 30, 1999 from a loss423 words
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Article, Illustration552 1999-11-06 8 KUALA LUMPUR AFX-Asia TRADING on the Kuala Lumpur Stock Exchange is expected to remain featureless and range-bound as it heads towards the year-end, with sentiment hampered by the delay in re-instating Malaysian stocks to the Morgan Stanley Capital International indices,AFX-Asia; FILE PHOTO - 552 words
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272 1999-11-06 8 KUALA LUMPUR It was involved in design of 2 vans and will manage project Bloomberg EP Manufacturing Bhd, a Malaysian maker of automobile parts, said it has designed two vans for Turkey's Jetpa Holding AS. EP, one of the companies on Malaysia'sBloomberg - 272 words
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MARKET moves
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62 1999-11-06 8 SHARES of United Engineers (Malaysia) (UEM) rose as much as 15 sen but ended unchanged at RM5.85 apiece yesterday after the company announced that it will sell its highway and waste management company for 1.27 billion Malaysian ringgit (***** million). Construction giant UEM said62 words
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94 1999-11-06 8 FERTILISER and pharmaceutical maker Chemical Company of Malaysia gave its shares quite a boost yesterday after announcing a one-for-one bonus issue. Its shares jumped as much as RMI but eased off in later trade to close 30 sen up at RM5.30 apiece. It was94 words
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Article112 1999-11-06 8 Ruth Wong - Compiled by Ruth Wong RESTRUCTURED Pengkalen Holdings Bhd, which was requoted yesterday after more than a year's suspension, saw its shares rise sharply in active trade. Pengkalen had sought protection from its creditors and had its shares suspended on Sept 10 last year. Pengkalen, which will112 words
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Advertisement405 1999-11-06 8 Classified First. ■> Want to get a laptop? Or simply get computer savvy? Log on to the best site: Check The Straits Times Classified First. V® CATS.' Buy H S«fl It Find It ||§P U N I V E R S JOHN F- KENNEDY /905 "SS3 SCHOOL OF GOVERNMENT The405 words
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Advertisement21 1999-11-06 8 L A master of cooking. Or one who just knows his carats. G "J&Jt ThrStraitNTimm nxi iiina W Call 1800 *****8321 words
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SOUTH east asia
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NOTE Book
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106 1999-11-06 9 Reuters [BANGKOK] The Stock Exchange of Thailand (SET) said yesterday it found no insider trading related to a cancelled merger of Thai Telephone and Telecommunications and Shin Corp. "According to trading information received from brokerage firms, we have considered that there was noReuters - 106 words
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Article79 1999-11-06 9 Bloomberg [BANGKOKJ Charoen Pokphand Feedmill Pel, Thailand's largest animal feed producer, said its thirdquarter net profit rose 50 per cent as sales rose and low agricultural products prices reduced costs. C P Feedmill earned 1.22 billion baht (5552.8 million), or 7.75 baht per share,Bloomberg - 79 words
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Article104 1999-11-06 9 Bloomberg [BANGKOK] Siam Cement Pel, Thailand's largest industrial group, said strong demand for its debt helped the cement maker sell 12 billion baht ($313 million) of bonds in its third sale this year. The sale brings to 50 billion baht the value of domestic bondsBloomberg - 104 words
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Article57 1999-11-06 9 Bloomberg [BANGKOK] Electricity Generating Pel, Thailand's biggest private power producer, said it swung to a loss of 230 million baht (559.9 million) in the third quarter as a weakened baht magnified the utility's foreign debt. Egcomp earned a net profit of 1.41 billion baht inBloomberg - 57 words
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Article83 1999-11-06 9 AFX-Asia [MANILA] Philippine Long Distance Telephone Co expects to realise US$l5O-175 million (Ss2so-292 million) in savings annually beginning 2002 from the integration of operations of PLDT, Pilipino Telephone Corp and Smart Communications Inc, PLDT executive vice president Ricardo Sarte said. "Over a period of time, weAFX-Asia - 83 words
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Article, Illustration597 1999-11-06 9 Harish Mehta - Tanayong refuses to transfer 23% stake to bidder CS First Boston HK Front Harish Mehta in Hamjkok A DISPUTE has arisen between the Thai owner of Bangkok's skytrain, who has defaulted on loans, and a foreign creditor, over the forced sale of sharesFILE PHOTO - 597 words
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430 1999-11-06 9 JAKARTA No ministers' names in missing page, says auditor PwC Reuters, AFXAsia INDONESIA'S byzantine "Baligate" bank scandal has thrown up another mystery a page is missing from a controversial investigation report that has at last been published after weeks of wrangling, andReuters,; AFX- Asia - 430 words
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Article, Illustration332 1999-11-06 9 WASHINGTON Bloomberg, Reuters THE International Monetary Fund's (IMF) executive board was scheduled yesterday to discuss resuming its loan programme to Indonesia, which would end a three-month freeze on lending triggered by an US$BO million (*****.4 million) bank scandal and crippling violenceBloomberg,; Reuters; REUTERS - 332 words
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409 1999-11-06 9 MANILA Reuters CONGLOMERATE Metro Pacific Corp said yesterday it was studying options to list its property arm. Fort Bonifacio Development Corp (FBDC), including going through the backdoor using its different listed units. Napoleon Nazareno. president and chief executive officer of MetroReuters - 409 words
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454 1999-11-06 9 m MANILA Chow King said to have assets worth 600 m pesos Bloomberg JOLLIBEE Foods Corp, the Philippines' largest restaurant chain, said it reached an agreement to buy Chow King Food Corp, entering the Chinese fast-food market as sales at its hamburger andBloomberg - 454 words
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Advertisement30 1999-11-06 9 Fits the job to a tee. Will blossom in the post. x- —X M r -sjMMjk Find the right candidate. 'ItK'StnutsTimcw jj f k j.A!>mim I Call 1800 741 188330 words
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BT people
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Article, Illustration1434 1999-11-06 10 Yang Razali Kassim - Alwi Shihab, Indonesia's first foreign minister from the private sector, practises economic diplomacy By' Yang Razali Kassim The writer is BT's regional analysis editor WHEN he was still a student in Cairo in the 60s, Alwi Shihab sold cars to pay his way. Come vacation time, theFILE PHOTO - 1,434 words
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Article, Illustration693 1999-11-06 10 INDONESIA'S new foreign minister, Alwi Shihab, spoke to BT regional analysis editor Yang Razali Kassim in Jakarta just prior to his formal appointment last week. The following are excerpts Q President Abdurrahman Wahid is starting his first overseas tour, with his first stop in Singapore,FILE PHOTO - 693 words
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EAST asia
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Article494 1999-11-06 11 Meera Tharmaratnam - C W Hongkong writes off HK$7b Interim loss comes to HKs2.7b, compared with HKs6.lb profit a year ago /•Yo/H Meera Tharmaratnam in Uongkony HONGKONG'S largest telephone company, Cable&Wireless HKT, announced yesterday that it wrote down HK$7 billion in assets, bringing it into the red in its half-year ended Sep 30,494 words
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Article, Illustration369 1999-11-06 11 Neil Behrmann - hrorn Neil Behrmann in London THE International Rugby Board (IRB) is going to fund the development of the game in China with a portion of the World Cup profits. Lee Smith, development manager of the IRBAFP - 369 words
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503 1999-11-06 11 ZURICH Insufficient capital, low quality of staff, NPLs among issues cited Reuters CHINA'S banks will need more capital to stay afloat, while their long-term success may depend on how quickly unprofitable state-owned enterprises can be reformed, according to the Bank for International Settlements (BIS).Reuters - 503 words
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SOUTH asia
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678 1999-11-06 11 ISLAMABAD Lack of investors confidence, foreign debt, fiscal deficit, poor exports cited Reuters, AFX Asia PAKISTAN'S new militaryled government is working "with a sense of urgency" to chart a road map by the yearend to revive its flagging economy, Finance Minister ShaukatReuters,; AFX Asia - 678 words
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Article, Illustration151 1999-11-06 11 BRISBANE AFP PAKISTAN opener Saeed Anwar yesterday saluting the crowd (above) after reaching his 50 with a boundary off the bowling of Scott Muller of Australia on the first day of the First Test at the Gabba ground in Queensland. Anwar was out for 61.AFP - 151 words
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361 1999-11-06 11 KARACHI Bridge News PAKISTAN'S traders have threatened to go on an indefinite strike if the military government's plan to widen general sales tax (GST) across the board, is implemented, officials from trade bodies said yesterday. Pakistan's two powerful trade bodies the AllBridge News - 361 words
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116 1999-11-06 11 BOMBAY AFX Asia THE Securities Exchange Board of India (SEBI) has directed the Bombay Stock Exchange and the National Stock Exchange to submit details on margin operations at the top 20 brokers on these bourses. The Economic Times reported yesterday. The reportAFX Asia - 116 words
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IN brief
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92 1999-11-06 11 AFP [NEW DELHI] Indian industry yesterday hailed Cabinet approval for an Information Technology Bill, which includes cyber laws that are expected to give a tremendous boost to the burgeoning sector. "We are happy the Cabinet has approved the proposal to introduce the IT BillAFP - 92 words
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73 1999-11-06 11 AFX-Asia [BOMBAY] The Indian government is planning to permit 100 per cent foreign direct investment (FDI) in telecom manufacturing units through the automatic approval route, the Business Standard reported. Currently, investment over 51 per cent requires case-by-case approval from the Foreign Investment Promotion BoardAFX-Asia - 73 words
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63 1999-11-06 11 Reuters [COLOMBO] The Sri Lanka Apparel Exporters Association yesterday it planned to implement the Electronic Visa Information System (Elvis) that would end forgeries in documentation of garment exports to the United States. "The implementation of Elvis in Sri Lanka heralds the advent ofReuters - 63 words
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WORLD news
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455 1999-11-06 12 NEW YORK Warner-Lambert rejects offer; will go ahead with plan to merge with AHP FT, Bloomberg US drugs group Pfizer on Thursday unleashed an US$B2.4 billion (*****.4 billion) unsolicited bid for competitor Warner-Lambert, just hours after Warner-Lambert had announced the terms of itsFT,; Bloomberg - 455 words
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348 1999-11-06 12 COLUMBIA Reuters US monetary policy is "about right", Federal Reserve Bank of St Louis president William Poole said on Thursday, just two weeks ahead of a key central bank meeting on interest rates. The remarks by Mr Poole, who is considered an anti-in-flation hawkReuters - 348 words
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Article, Illustration73 1999-11-06 12 i?/- BeU homing a balloon in support of a "yes" vote during final campaigning in Sydney yesterday on the eve of today's historic republic vote. Despite the majority of Australians wanting to cut ties with Britain and become a republic, opinion pollsREUTERS - 73 words
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270 1999-11-06 12 LONDON Reuters BRITISH manufacturers enjoyed their fastest growth for three years in the third quarter, official figures showed yesterday, suggesting a more balanced expansion in the overall economy than of late. The data, which could push already robust third quarter GDP growthReuters - 270 words
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380 1999-11-06 12 SALT LAKE CITY Software maker Caldera accuses it of anti-competitive actions Bloomberg Reuters MICROSOFT Corp lost its final motions to dismiss Caldera Inc's US$l.6 billion (552.7 billion) anti-trust lawsuit, clearing the way for the trial to start in January. US District JudgeBloomberg; Reuters - 380 words
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482 1999-11-06 12 LONDON Move aimed at 24 hour global trading in tech stocks Reuters, NYT, Bloomberg NASDAQ, the US stock market that houses high-tech stars like Microsoft and Intel Corp, said yesterday it would launch in Europe next year, putting the final piece inReuters,; NYT,; Bloomberg - 482 words
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WORLD Briefs
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81 1999-11-06 12 Bloomberg [MADRID] While British banks are set to close more branches to cut costs, their goal should be to adapt better their retail network to new customer demands, said Brian Pitman, chairman of Lloyds TSB Group Pic, the UK's most profitable bank. Mr PitmanBloomberg - 81 words
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Article81 1999-11-06 12 Bloomberg [HERZOGENAURACH, Germany] Puma AG, Germany's second-largest sporting good maker, said third-quarter net income more than quadrupled on increased demand for its accessories, while also benefiting from a lower tax rate. Third quarter net income rose to 2.6 million euros (554.5 million), or 0.17 euro aBloomberg - 81 words
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93 1999-11-06 12 AFP [LONDON] Joining the single European currency could cut British output by around £9 billion (5514.4 billion) a year, according to a study published by the Bank of England. But its authors also cautioned against a margin of error in their research, sayingAFP - 93 words
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Article100 1999-11-06 12 Bloomberg [ROTTERDAM] Unilever, the world's largest maker of ice-cream and personal-care products, said third-quarter profit fell 3 per cent on sluggish sales of Flora margarine. Bird's Eye frozen fish and other food products in Europe and North America. Net income before one-time gains fell toBloomberg - 100 words
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684 1999-11-06 13 r ken haley - from melbourne PoUs show in today's referendum most will vote to retain the Queen but only 9% want the monarch to remain head of state r ken haley Australians troop off to the polling booths today, 12 million of us yes, voting's compulsory here684 words
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511 1999-11-06 13 WASHINGTON Computer flaw could be a massive problem on first three days of Jan, he says NYT THE White House's top expert on the Y2K computer bug on Thursday testified before Congress that Americans should be stocking up on enough food, water, medicineNYT - 511 words
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333 1999-11-06 13 NEW YORK Significant loans noted in extended collateral scheme Reuters THE Federal Reserve Bank of New York said on Thursday that banks had made the first significant borrowings this week from the discount window using special terms set up to handle year-endReuters - 333 words
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Article, Illustration81 1999-11-06 13 [EDINBURGH] Phillips auctioneer assistant Clare Arbuthnott catching up on Thursday with some reading on the bed which was featured in the classic Hitchcock horrorfilm Psycho and which is being put up for sale by its Scottish owner. The elaborately decorated piece of furniture wasAFP - 81 words
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Article, Illustration545 1999-11-06 13 Boca Raton, Florida Bridge, Reuters GOLDMAN Sachs Group Inc chief investment strategist, Abby Joseph Cohen, said on Thursday financial markets have already discounted the possibility of an interest rate hike next week. The Federal Reserve's Open Market Committee convenes its next policy meeting on NovBridge,; Reuters - 545 words
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516 1999-11-06 13 LOS ANGELES But roles allow it to operate registry, collect fee for 4 yrs NYT, Reuters THE Internet's governing board on Thursday approved terms for opening the network's address registration businesses to full-scale competition, ending the six-year monopoly that enriched Network Solutions Inc.NYT,; Reuters - 516 words
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Article254 1999-11-06 13 I TOKYO Bloomberg DAIWA Securities Group Inc, Japan's second-largest brokerage, yesterday reported its biggest profit since 1990, thanks to a stock market rally that tripled trading commissions. Group net income for the six months to September rose to 80.3 billion yen (Ssl.3 billion), or 60.5Bloomberg - 254 words
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Page 12 Advertisements
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Advertisement12 1999-11-06 12 sometimes knocks. For 85 cents, we'll slip it quietly under your door.12 words
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FINANCE & commodities
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210 1999-11-06 14 Daphne Tay, Jardine Fleming - SIMTfIE Reports MS& Singapore Index Daphne Tay, Jardine Fleming THE Singapore stock market closed marginally higher yesterday amid caution ahead of the long weekend. The market will be closed for trading on Monday, it being a public holiday. The Straits Times Index shed earlier210 words
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175 1999-11-06 14 Cecilia Woo Refco Singapore - MSCI Taiwan (Mores Cecilia Woo Refco Singapore THE Simex MSCI Taiwan Stock Index futures yesterday finaUy broke the downstream momentum, ending in positive turf after four days of losses totalling 17.4 points in the November '99 contract. After the cash market opened, a prevalent two175 words
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269 1999-11-06 14 ENERGY REPORT Bloomberg [NEW YORK] Crude oil yesterday rose for a third day as European refiners stepped up purchases of North Sea Brent crude oil to meet an increase in demand for heating fuel, tightening supplies for import to the US.Bloomberg - 269 words
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Article333 1999-11-06 14 Reuters London THE dollar rose to 10-day highs against the yen and remained bolstered against the euro yesterday amid growing speculation that the US Federal Reserve might leave rates unchanged at its November policy meeting. The dollar began to firm across the board after Federal Reserve Bank ofReuters - 333 words
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Article, Illustration1313 1999-11-06 14 WTERBAMK CROSS RATES S ov5 C$ >mb Euro ffr Dm HKj Ind »i Bupiah Yon Won BM NZ$ Pali »s Peso s$ Band Sfr HT$ Mrt Po«ml US} Australia 0.934 6.178 0.614 4.028 1.201 4.954 27.677 43.286 0.670 7.565 2.423 1.244 33.043 25.545 1063 3.899 0.992 20.244 24 566 01,313 words
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Article1930 1999-11-06 14 SICOM FUTURES Nov 5 RUBBER (futures closing as it 5.30pn) RSS1 CONTRACTS cmts/kq) Close Voiume Open Month Hlqh Low Sttt (tonnes) Interest Dec 99 123.75 1200 Jan 00 128.50 128.50 127.25 300 300 Feb 00 129.75 100 Mar 00 131.75 100 RSS 3 CONTRACT (US cmts/kq) Volume Open Month Hkjh1,930 words
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STOCKS east asia
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Article, Illustration2853 1999-11-06 15 HONGKONG AFP f3 Hang Seng -41.24 HONGKONG share prices dropped 0.3 per cent yesterday on light profit-taking after recent sharp gains, dealers said. Michael Ng, dealing director at Sassoon Securities, attributed the decline to profit-taking from recent gains as well as poor interimAFP - 2,853 words
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Article, Illustration1018 1999-11-06 15 Reuters fl Shenzhen B Index +L 36 SHENZHEN'S B shares ended higher yesterday, led by strong gains in property developer China Vanke, which triggered rises in other real estate shares. The B share index rose 1.36 points, or 1.77 per cent, to 78.36 as turnover soared to HK$65 millionReuters; Source: Credit Lyonnsis Securities(Asia) Ltd - 1,018 words
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Article372 1999-11-06 15 AFP nwp Index -t-19.03 TAIWAN share prices closed 0.3 per cent higher yesterday on moderate buying in technology and plastics counters, dealers said. The market opened up on Wall Street's overnight rally, but selling pressure later set in on anticipation that foreign investors would further reduce stock holdings beforeAFP - 372 words
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2027 1999-11-06 15 TOKYO AFP □Nikko22s *77 SHARE prices in Tokyo closed fractionally higher yesterday as investors bought information and telecoms issues in late trading after taking profits on the previous day's gains, brokers said. But there was strong upside resistance as investors awaited the release ofAFP - 2,027 words
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Page 15 Advertisements
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STOCKS klse
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Article6628 1999-11-06 16 mOUSTMALS '"V r C'rr" P 11 Vrt Day M Ca# -!S5 ii®_ si« ooo m» Law p/t m ii ♦40 255 Ajlnomoto 302 ,q 3 A JZi 46 90 -1.5 23 92 90 iii"? ♦04 220 Apollo Food Mlg 304 6 1 304 304 7 7 u5"I W 4 SO6,628 words
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Article, Illustration408 1999-11-06 16 AFX-Asia P Composite Index -&23 MALAYSIAN share prices closed lower yesterday as sentiment continued to be undermined by uncertainties over Malaysia's general elections, dealers said. They said investors also wound down positions amid caution ahead of the long weekend. The Kuala Lumpur Stock Exchange CompositeAFX-Asia - 408 words
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Page 16 Advertisements
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Advertisement4 1999-11-06 16 INTELLIGENCE HHANfSPC cucqvtuiuo TheßusinessTimes4 words
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SES clob & regional stocks
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Article3156 1999-11-06 17 BONDS A WARRANTS m% W Wnto tipky U-Wmk Last v* —f A«« «m* Cat bur CmM wm» t— *1 lata M0 LOT M Uh Ml Ml Mk Mn m taartagl Uft 104 10.5 1 3160 *Acar ******1USS _....__.41 unch 159 41 41 41 41.5 33.1 1 156 81 2.66 203,156 words
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Article, Illustration800 1999-11-06 17 AFP n SET Index -L 42 THAI shares closed off their highs yesterday, shedding 0.3 per cent in heavy trade with profit-taking in banks eroding gains in communications and properties, dealers said. The Stock Exchange of Thailand Index fell 1.42 points to end at 418.47. Rises led falls 106AFP - 800 words
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Article282 1999-11-06 17 AFP n Manila -8.01 PHILIPPINE share prices closed 0.4 per cent lower yesterday due to political worries, analysts said. The Philippine Stock Exchange Composite Index fell 8.01 points to close at 2,018.41. Turnover rose to 6.33 billion shares worth 3.93 billion pesos. —AFP #,S 1000) M RCA IIIM. 0.83AFP - 282 words
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Article, Illustration685 1999-11-06 17 AFP Composite lata jg INDONESIAN share prices closed 1.2 per cent higher yesterday, buoyed by selective buying in blue chips amid the release of nine-month results for some stocks, dealers said. A dealer with a regional brokerage said the index went up on buying of select leading stocks whileAFP - 685 words
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Article285 1999-11-06 17 AFP QWtilington -1433 NEW Zealand's share market again turned in a damp squib performance yesterday, losing 0.7 per cent for a third straight negative session. The NZSE-40 Capital Index was down 14.33 points or 0.7 per cent at 2,063.55 on light turnover of NZ$66.B million. In) krt f'OOO) AdvantagaAFP - 285 words
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Article610 1999-11-06 17 AFP n All Ordinaries -15.7 AUSTRALIAN share prices fell 0.5 per cent yesterday after an afternoon slump on a sell-off of select blue chips, brokers said. The All Ordinaries Index ended 15.7 points lower at 2,919.80. The All Industrials Index declined 28.4 points to 5,083.40 and the All ResourcesAFP - 610 words
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Article309 1999-11-06 17 AFP □Composite Index +L 27 THE Korea Stock Exchange Composite Index rose 1.27 points to 913.09. Volume was 406.7 million shares worth five trillion won. —AFP •«5 Won An*m Sunt ***** -350 Br»ln T«eh 2430 145 C*ntr*l B«rtk 3160 unch Ch»H Comm ***** 7400 DM Gu Bank 4740 55AFP - 309 words
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Page 17 Advertisements
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Advertisement17 1999-11-06 17 RT Bjj I I I A J IIJ•!V Kj I L I I TheßusinessTimes INTELLIGENCE CHANGES EVERYTHING.17 words
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Article9059 1999-11-06 18 MAIN BOARD Transaction date: Nov 5 u Gr Gr M Wt Mtah I LMl v«4 Day Lett OuoU Dhr Wv Yld Net Cap Avq StNo Company Slfc (OOP) High Low Buyer Seller Cvr *P/E SmIMhico multi-industry '2i 5 m 6 'S. 00 Acma 50c 2 unch 202 1139,059 words
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Page 18 Advertisements
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Advertisement65 1999-11-06 18 I ytIJDEMARSPIGICT I |5' -Lc maitre de I'horlogerie depuis 1875 H0 BEHIND AN PIGUET WATCH? Cortina Watch Centre RrUtonal Agent. Showroom ft Service Centre: AUDEMARS PIGUET (SINGAPORE) PRIVATE LIMITED. r^-,'wlUY™^!?.,H 9 Raffles Boulevard #01-111/112 Millenia Walk Singapore *****6. Tel: 3 *****3/*****53 Fax: 3391 301. Raffles City #01-36 Tel: *****8S Lucky65 words
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EXEC lifestyle
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Article, Illustration723 1999-11-06 19 Shahiron Sahari - People writing them off may be all the motivation they need to shine Reports from Shahiron Sahari in Sydney TODAY is an auspicious day for Australia. The country holds a referendum on cutting ties with the Queen and finally becoming a republic. Probably of moreFILE PHOTO - 723 words
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Article393 1999-11-06 19 SCRUMS AND UNEOUTS The forwards are about on par in the scrummaging department, especially now that prop Franck Tournaire has been cleared of a biting charge. At the lineout, France's Abdelatif Benazzi and Fabien Pelous outwitted New Zealand by means fair and foul. But whereas393 words
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Article, Illustration752 1999-11-06 20 PARVATHI NAYAR - The art exhibition, Diaphanous, now on at Chijmes, is a study in the interaction of cultures in a diverse society, parvathx n&tah writes PARVATHI NAYAR People joke about the spate of blockbuster mergers heading towards a world with one bank, one advertising company, one oil conglomerate but when752 words
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Page 19 Miscellaneous
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Miscellaneous1744 1999-11-06 19 CRYPTIC CROSSWORD 7 Best not to look so much? (8) 9 Radio buff rented small place r I P in the country (6) Lmh— 10 Not to refrain from eat- U HI 11 Terrible concern may result from witchcraft (10) ||H~ MB j^H 12 A place to meet round Inns1,744 words
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Page 20 Advertisements
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Advertisement471 1999-11-06 20 Where to wine, dine and entertain..."-? (gjffiaSfr *****2552 jam SOS, Dine on Cafe Plaza's sumptuous authentic Thai buffet for lunch and dinner, along with attractive lucky draw prizes to be won! Buffet Lunch 8C Dinner: $22.50 (Adult), 50% discount (Child) For reservations, please call 290 8218/298 0011. Lunch dotty except471 words
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Advertisement17 1999-11-06 20 m\nn\ki\sl N (i a r or f: I t AftHUI. EotjursEßpl' SptendjliffEfflalJ'; it of ■■pCjpK' Mauritius ®K*'17 words
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