The Business Times, 18 July 1998

Total Pages: 26
1 26 The Business Times
  • 21 1 THE BUSINESS TIMES MITA(P) 110/12/97 85c S I N G A P O R E Internet: http://www.asial.com.sg/biztimes WEEKEND EDITION, JULY 18-19,1998
    21 words
  • 61 1 sra UN6JO (+21.13) BT-SKI *****1 (+6.97) BTOOHP •***** (+16.18) PIBTMOA U ***** (+13.18) gmamiiKBTniMCBs Friday Change KLSECOMP 446.31 +1S12 NIKKEI .16£ 70.78 -161.14 HANGSENG £628.93 +42J6 SET INDEX +1127 JAKARTA COMP __4«U +12.46 MANILA COMP —1,787.26 -9.74 TAIPEI WP! 8,***** +108.02 SEOUL OOMP dosed OLSA CHINA B *****
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  • 77 1 FOBEX BATES USS St USS 1.690 £(US$/S$per£) 1.*W„__1771 DM 1.788 0.946 YEN 139.0 iur RM 4.090 0.413 HK$ 7.748 0J18 BAHT 4053 0.042 RUPIAH 1W00 0.0 tr S$ lo 100 unJtt PBIXE BATES SINGAPORE* 788 KUALA LUMPUR U 50 JAKARTA .28.00 BANGKOK 14.75 MANILA 22J0 HONGKONG 10.25 TAIPH .8.86
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  • 646 1 Developers told to cut prices in response to fall in property demand [SINGAPORE] Prime Minister Goh Chok Tong last night had some stiff words for business groups, particularly property developers, who criticised the government's recent off-budget measures. "Our businessmen should know
    ARTHUR LEE  -  646 words
  • 268 1 Law to force cargo owners to use local ports under study Bridge News Bernama [KUALA LUMPUR] Malaysian Transport Minister Ling Liong Sik has warned of an increase of between 100-800 Malaysian ringgit (Ss4l-$330) in the levy on trucks ferrying cargo across
    Bridge News; Bernama  -  268 words
  • 501 1 Fresh exodus said to be sparked by fears of further violence Reuters [SURABAYA] Intimidation, looting and fears of further violence have sparked a fresh exodus of ethnic Chinese from Indonesia's second city of Surabaya in East Java, residents said yesterday. Around 300 ethnic
    Reuters  -  501 words
  • 79 1 [SINGAPORE] The Housing Development Board said 8,600 mortgage loans have been in arrears for three months or more since May a number which has remained relatively stable in the last few years. The HDB was quoted by TCS yesterday as saying that the figure is about
    79 words
  • 737 1  -  It will sell AMMB stake, assets to meet obligations in fall From Ruth Wong in Kuala Lumpur DEBT-LADEN Arab-Malay-sian Corporation (Amcorp), the parent company of banking group AMMB Holdings, obtained court protection from its creditors yesterday so as to restructure the group and deal
    737 words
  • Page 1 Advertisements
    • 150 1 IWBPB jfl k\\ tftniamgs by awngji Norman Foster is the creator of such architectural icons as the Hongkongßank headquarters and the Stansted airport in London. His latest project is Hongkong's new international airport. He talks to BT about his work and design philosophy, ELI Ifsphjttae Win $70,000 worth of unit
      150 words
    • 10 1 Akb&r T&njung: A new force in Indonesian politics, EL 2
      10 words
    • 79 1 DBS net for more foreign talent, Pg 10 Property a good store of wealth here: DBS Sec, Pg 2 Upl M h/ nmV H Vw Xjr Y> ■11 1 1 I V W& jfa j r<illertior|^_ t ji* jB The timeless of mechanical perfection 65/737 64 Fax 6S/235 82 00.
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  • SINGAPORE AT HOME & ABROAD
    • 594 2  -  40% retr&cement in price cycle won't hit long-term property wealth significantly Reports by Catherine Ong PROPERTY ownership has been a good store of wealth for Singaporeans despite falling prices since mid-1996, DBS Securities said in a recent report on local real
      594 words
    • 392 2  -  The average price will probably be $400 psf or less By, Jenny Lam PIDEMCO Land plans to launch its Woodsvale executive condominium in about three weeks' time, around National Day, at prices which will most likely be lower than Hong Leong Holdings' North
      CHRIS LOH  -  392 words
    • 257 2 FOR those for whom a gold card's not good enough, the platinum credit card will hit the Singapore market next month. DBS Bank will launch the Platinum MasterCard early next month, said sources from the bank's credit card department. Only those who
      257 words
    • 462 2 The Straits Times THE Court of Appeal has raised from $20,000 to $100,000 the damages won by Prime Minister Goh Chok Tong in his defamation suit against opposition leader JB Jeyaretnam. It also awarded Mr Goh full costs, ruling
      The Straits Times  -  462 words
    • 368 2 DBS Securities; Huge stock of 1.7 m sq ft of nnoccupied space spilled over from '97 SINGAPORE'S office property market is unlikely to get any reprieve in the coming years and the supply glut is not expected to thin out
      368 words
    • 183 2 FROM September, tobacco retailers will require a licence to sell cigarettes. And retailers who continue to sell cigarettes to youths under 18 years will risk losing their licence, which will cost $180 a year. Licensed tobacco retailers also cannot sell cigarettes
      183 words
    • 244 2 SINGAPORE'S property market has slipped a rung to third in Knight Frank's latest ranking of 10 real estate investment markets in the Asia Pacific. But although it fell from its second spot in the initial report published three months ago,
      244 words
    • 417 3  -  SIG hits budgeted premium income for whole year by first half By\ Soh Tiang Keng THE Singapore Insurance Group (SIG), a strategic alliance of the 12 local general insurance firms here, has got off to a flying start. Premium income in the first six months
      417 words
    • 300 3  -  Viet growth slows to (L 5% in Ist halfharder times to come, says mayor By, Audrey Tan FOREIGN investment flows into Hanoi were down by half in the first six months this year to just US$3OO million (Ssso7 million), Mayor Hoang
      LANCE LEE/ST  -  300 words
  • Page 2 Miscellaneous
    • 385 2 CRYPTIC CROSSWORD 28 A gold key anU (3-3) 29 Acknowledging a young worn- 8 di f^ n t0 make no 26 Bottom maybe, with just two an seen in a seedy bar (9) J! f points say (6) on a« i 14 An officer of the law reads the 3
      385 words

  • Page 3 Advertisements
    • 164 3 A $48. At Le Meridien r y y on w(l JI until I hiftnbn to holil \oin Ihiinn ami I fame. I \hn m tln/nnt y >noo<l rar/n■) nut! en/o\ sbiiial rates when \oii /tool; llii I t sl/x'r I'acluige. \\r dress nf> the llalhootn u'/lh feshi'e deeor. h m/it
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    • 63 3 World Cup *98 The saga i I continues... Ml I Get your copy on I 19 Jul '98 I for full details. I I From lOani I I onwards. I l SPH Stop Press Kiosks, BP, CALTEX, Esso, Mobil, Shell, SPC, Borders, J I Carrefour, Cold Storage, NTUC Fair Price,
      63 words

  • FOCUS: PERSONAL FINANCE & INVESTMENT
    • BULL'SEYE
      • 305 4 Those polled for their views on the Singapore stock market outlook for next week were: Alliance, Daiwa, Deutsche Morgan, Fraser, GK Goh, ING Baring, Kay Hian, Kim Eng and Merrill Lynch. Cycle and Carriage ♦(Sell) Indosuez Wl Carr, July 16, $4.54 Group profits are not expected to
        305 words
      • Article, Illustration
        447 4  -  David Perrett Regional economist Prudential Portfolio Managers Asia 44TT7 HAT a year! In \l\l the last 12 f months, five regional currencies have collapsed and seven of the region's economies are in recession. With every stomachwrenching lurch down in regional currencies, painful hike in interest rates, and
        447 words
    • 1137 4  -  Firm growth, attractive valuations and hidden value: that fund managers say, is the premise of the European storv By\ Shiv Taneja [SINGAPORE] WITH all the hype surrounding Europe, its monetary union and the very rosy outlook for equities, it is not at
      1,137 words
    • 530 4  -  EVE ON THE REGION: PHILIPPINES From, Al Labita in Manila THE Philippines' raucous political scene appears to have unnerved the stock market, shaking investors' confidence and leading to lacklustre trading. Average daily value turnover is razor-thin at only 500 million pesos (5520.2 million), barely one
      530 words
    • 1049 4  -  Small-cap stocks especially prone to gyrations in confidence cycle tty\ Louis Beckerling [SINGAPORE] So-called "penny-stocks" offer cheap access to the stock market, but the entry ticket comes with a wild ride. Just how wild can be seen in the performance
      Source:  -  1,049 words
    • 1178 5 If you think you can put together a portfolio of unit trusts that will outperform the rest sign up now [SINGAPOREJ JOINTLY organised by The Business Times and Standard Chartered Bank, the unit trust competition "The Game" will start on Aug 1, 1998 and end
      1,178 words
    • 193 5 t/ STARTING today, BT introduces a column that gives an in-depth profile of a unit trust each week, including an analysis of its performance. The decision to make space for the Fund Profile (see column on the right) reflects the usefulness of collective investment
      193 words
    • Article, Illustration
      314 5 Compiled by BT Investment objective The fund invests in Singapore and Malaysian stocks listed on the Stock Exchange of Singapore and the Kuala Lumpur Stock Exchange, with the aim of achieving longterm capital growth. Investment style The fund is actively managed with a bottom-up investment approach. The fund's
      Compiled by BT; Source:  -  314 words
    • 1122 5 Qualifying funds The Game no umttrust iyr 3yrs ksk fvr RETURN RETURN CAT RATIO Aberdeen Asset Management Asia 1 American Opportunities Fund N/A N/A B N/A 2 Asian Fixed Income Fund N/A N/A A N/A 3 Continental European Equity Fund N/A N/A B N/A 4 Indonesia Equity Fund N/A N/A
      1,122 words
  • Page 4 Advertisements

  • Page 5 Advertisements
    • 390 5 Sound Us Out First ATLAS HI Fl PTE LTD "01 -116/124 Suntec City Mall (Tower Two) Tel 339 0966 Fax: 336 4678 fHinHHK v SS^I i a^^»JI?M (AamNfVOPauport, fl Mr® W» OMAVI I please underline surname) S® x Male CJ Female Do you have what ft takes to be a
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  • Page 6 Advertisements
    • 1786 6 Sales in w*** commenced commercial deliveries in March 1997, also progressed, compared to last year, but 1 were limited by increasing competition in PET preforms and bottles. t T l > l ad 1 v l f s f °I the Baht devaluation on group sales was mitigated by the
      1,786 words

  • MARKETS IN TURMOIL
    • 281 7 AFP [TOKYO] Japan's banks are weighed down with 87.5 trillion yen (Ssl.l trillion) in problem loans, Tokyo's new financial watchdog said yesterday, revealing the problem is far worse than admitted. The figure covers both bad loans and loans likely to turn sour as at
      AFP  -  281 words
    • Article, Illustration
      73 7 [KARACHI] Traders in an electronics and jewellery market area of Karachi's main shopping district yesterday stayed shut in protest over a newly imposed General Sales Tax (GST) set by the Nawaz Sharif government. Banners strung across the roads display their discontent reading "No sales in protest against
      REUTERS  -  73 words
    • 322 7  -  IMF aid for Jakarta, firm yen, record Dow boost sentiment By\ R Sivanithy [SINGAPORE] Regional stocks extended their gains into a third consecutive day yesterday on the back of another record high on Wall Street and another firm session for the Japanese
      322 words
    • 222 7 AFP [HONGKONG] Hongkong Chief Executive Tung Cheehwa yesterday predicted a "very difficult" third quarter for the territory after nearly a year of problems brought on by the Asian financial crisis. "We're going to have a difficult second quarter, probably a very difficult third
      AFP  -  222 words
    • 571 7 Analysts sceptical about attaining 8% target because of the Asian crisis AFP [BEIJING] China's economic growth, hit by the Asian financial crisis, slowed to 7 per cent in the first half of the year, with prospects for hitting a target
      AFP  -  571 words
    • 504 7  -  From Shoeb Kagda in Jakarta IN a move that will speed up the rehabilitation of Indonesia's financial sector, the Indonesian Bank Restructuring Agency (IBRA) has appointed American financial houses Lehman Brothers and J P Morgan as overall international financial advisers
      504 words
    • 279 7 Reuters [TOKYO] Despite its resistance to risks and change, Japan must implement bold reforms to escape its economic stagnation, the government said in an annual economic White Paper yesterday. The report, prepared by the Economic Planning Agency, said the economy remained stagnant and its
      Reuters; FILE PHOTO  -  279 words
    • 356 7 Growth depends on more competition; productivity Reuters [BRUSSELS] The long-term growth outlook for crisis-hit Asia is much brighter than many believe, according to a report published yesterday. The study by the research group Conference Board Europe said Asia's return to strong economic growth depended
      Reuters  -  356 words
    • 360 7  -  But S&P warns that outlook rating for both the companies remains negative From Harish Mehta in Bangkok US ratings agency Standard Poor's yesterday removed Thai Farmers Eank and finance company Phatra Thanakit from its credit watch list, a move that analysts said
      360 words
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  • Page 7 Miscellaneous
    • 73 7 DOOHESBDRT By Garry Trudeau "1 £1# vuwurcr ru I /JZw *BMIUJON USePTOUVZ f AkJAV! THAPS FTV> TAJ< ABo^ o M£NTION /v^v I view or Ynext poor?) mhatMAxee m s "COMee cool 6UHAZJ/M? ll!u-J THISHOOSe -Qw-X*I2MILLION. R&JTOC- A//TH3O Mwechs?^ MAN! MAT A THRJU, IT lUUL, IHATS TV SPEAK /Jjfu MUSTHAveseeuTDLive ill
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  • REGION
    • 516 8  -  Higher figure follows earlier govt estimate of HKsl.3b cost to the economy From. Loh Hui Yin in Hongkong THE almost two-month-long air cargo foul-up in Hongkong will result in an income loss of HK$4.6 billion (Ssl billion) or 0.35 per
      AFP  -  516 words
    • 169 8 KUALA LUMPUR A MALAYSIAN minister has urged the local media to publish adverse reports about Singapore, according to a news report yesterday. Culture, Arts and Tourism Minister Sabbaruddin Chik said on Thursday this was only fair as the Singapore media had no
      169 words
    • 166 8 TOKYO AFP A TOKYO court yesterday handed down the first verdict in Japan's widespread scandal over illegal payoffs by top brokerage houses to a notorious corporate racketeer. The Tokyo district court sentenced a former executive of collapsed Yamaichi Securities Co to 10 months in
      AFP  -  166 words
    • 765 8  -  LBTTHK FKOM TOKYO Lectures, criticisms, China wooing resented By Anthony Rowley A FEW days ago, Japanese Communist Party chairman Tetsuzo Fuwa suggested that Japan should consider dumping its holdings of US Treasury securities if Washington continues to bash Japan and to snub it in favour
      765 words
    • 280 8 TOKYO AFP THE two leading candidates to be Japan's next prime minister stepped into the ring yesterday, promising to deliver the world's second largest economy from its worst postwar recession. Keizo Obuchi, foreign minister and front-runner in the contest, promised tax cuts and
      AFP  -  280 words
    • 654 8  -  Army-backed J&A Securities under probe for corruption ity Lu Ning [SINGAPORE] Chinese Premier Zhu Rongji's mounting campaign to clean up the nation's troubled financial sector is now targeting a sacred cow the People's Liberation Army (PLA). Chinese officials have confirmed that top officials of
      654 words
  • Page 8 Advertisements
    • 209 8 c a r con rooms mM\C Join Jft om^ l,mentary we,come drink and < mßm i Late check-out till 2.00pm, subject to C"" Mm I room availability DOUb C CCUPanCy addltl na ,oon y In the heart of the East Coast district Jfe Eas V access to the Central Business
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  • THE WORLD
    • 405 9 WASHINGTON Clinton renews appeal to Congress to boost US support for IMF programmes Bloomberg AFP THE US international trade deficit widened in May to a new high as the economic crisis in Asia crippled export demand and flooded US markets
      Bloomberg; AFP  -  405 words
    • 407 9 TAIPEI Top tourist town Meishan cnt off by quake measuring <L 2 AFP A STRONG earthquake rocked Taiwan yesterday, killing at least four people, flattening homes and cutting off roads, rescue officials said. A military operation was set underway to clear a route
      AFP  -  407 words
    • 276 9 BRITISH OPEN Brian Watts was clnbhonse leader AFP [SOUTHPORT, England] Strong winds forced organisers to suspend play in the second round of the Open championship here yesterday. The winds were gusting up to 40 mph and heavy rain began lashing the course when play
      AFP  -  276 words
    • 296 9 WIESBADEN Bloomberg GERMANY'S merchandise trade surplus widened to a record 14.6 billion Deutschemarks (5513.8 billion) in May, a sign that booming exports to Europe are more than offsetting the slowdown in Asia. The surplus grew from 11.4 billion marks in April, the Federal Statistics
      Bloomberg  -  296 words
    • 57 9 [ST PETERSBURG] Russian President Boris Yeltsin and wife Naina bowing at the tomb ofTvir Nicholas II at St Peter and Paul Cathedral yesterday. Russia yesterday buried the remains of its last tsar and his family, exactly 80years after they were shot dead by Bolshevik revolutionaries in what
      REUTERS  -  57 words
    • 159 9 MOSCOW Bloomberg RUSSIA'S lower house of parliament approved measures to raise less than a third of the revenue proposed in a def-icit-cutting programme, forcing the government to threaten it would implement the package by decree. Prime Minister Sergei Kiriyenko went to
      Bloomberg  -  159 words
  • Page 9 Advertisements
    • 178 9 WKI B/C BERTHA MK was? 3/RO i^p fc., mm ■nt \Z2JT CALLAWAY JJSjI WAR BIRD i^b H Now 2nd August At such unbelievable prices, the ever popular Callaway Bertha War Woods have become even more irresistible to golfers ever/where! So go for your monster others burn up the course and
      178 words

  • COMPANIES & MARKETS
    • 357 10  -  Fond* for $364 m payments from internal resources, $120 m bank facility By Conrad Raj [SINGAPORE] Amidst the current gloom and loan defaults, there is one piece of good news at least for the bondholders and bank creditors of the former Amcol Holdings,
      357 words
    • 352 10  -  $5.9 m profit helped by «lk&rp increase in interest income By Ven Sreenivasan [SINGAPORE] A sharp increase in interest income saw CarnaudMetalbox's half-year earnings jump almost 10 times to $5.9 million. The results for the six months ended June 30 were achieved on
      352 words
    • 302 10  -  By< Catherine Ong [SINGAPORE] DBS Bank, which recently announced the appointment of an American banker to be its chief executive, is poised to recruit more foreign talent to fill senior positions, bank chairman S Dhanabalan signalled last night. In his speech at the bank's
      302 words
    • 779 10  -  HOCK LOCK SIEW Ven Sreenivasan NE would have thought that IM the recently-announced gov- I ernment measures to cut W W banks' minimum cash balances and lift the veil on hidden reserves would have boosted interest in Singapore bank stocks. While
      779 words
    • 176 10 Bloomberg [SINGAPORE] Panpac Media Pte, a Singapore-based magazine publisher, said it could sell part of its company to its UK partner Emap pic to fund its expansion plans. Panpac is looking to raise $4.3 million in an initial public offering, and proposes to buy
      Bloomberg  -  176 words
    • 403 10  -  Heavy trading refuels old rumours of Sing Tel interest By 1 Teh Hooi Ling [SINGAPORE] The stock of Singapore-listed Thai mobile phone company Total Access Communications (TAC) has surged some 30 per cent in the last three days on heavy trading, rekindling
      Source: Bloomberg  -  403 words
    • 162 10 [SINGAPORE] Listed Bukit Sembawang Estates is launching its freehold Mimosa Terrace, located in the Seletar Hills area, at prices starting from $1.08 million each. The first phase of the three-storey landed development win be soft launched today. It comprises 36 terrace houses and a pair of
      162 words
    • REGIONAL COMPANIES
      • 360 11 Strong sales of Office line, Windows 98 lift sales bnt company stays cautions Bloomberg [REDMOND, Washington] Microsoft Corp's fiscal fourth-quarter profit rose 28 per cent, beating forecasts, as the software powerhouse turned in strong sales of its Office and
        Bloomberg  -  360 words
      • 245 11 Reuters [PURCHASE, New York] PepsiCo Inc oil Thursday reported a 19 per cent increase in its second quarter net income, as higher earnings at its snack foods division offset increased spending to capture more of the North American beverage market. PepsiCo said
        Reuters  -  245 words
      • 261 11 Low fuel prices, booming economy help bat investors not impressed Bloomberg [ATLANTA] Delta Air Lines Inc's fiscal fourth-quarter earnings rose 20 per cent, as the third largest US airline benefited from low fuel prices and filled a record percentage of seats. The earnings topped expectations,
        Bloomberg  -  261 words
      • 125 11 Reuters [LOS ANGELES] Mattel and Hasbro, the largest toymakers in the United States, both reported lower second-quar-ter profit on Thursday, stung by a strong dollar overseas and reduced sales to Toys R Us. It was the second quarter in a row that they
        Reuters  -  125 words
      • 306 11 Bloomberg [REDMOND, Washington] Microsoft Corp just gained a title it might prefer to keep quiet: The biggest maker of personal computer software is now the world's top software company, period. Microsoft's fiscal fourthquarter sales of US$4 billion (556.7 billion) boosted its annual revenue to
        Bloomberg  -  306 words
      • Article, Illustration
        63 11 [TOKYO] An employee of Japan's electronics giant NEC showing off on Tuesday the latest A 4 size notebook computer LaVieNX LT23/44A which has a 233 MHz Mobile Pentium llprocessor on its CPU, a 14.1-inch XGA TFT colour display and weighs only 2.19 kg and is 32.99 mm
        AFP  -  63 words
      • 467 11 Asian crisis lias hit hard; feasibility study going on Reuters [HONGKONG) Ansett Australia said it expected its international operation in Asia to stay in the red in 1998/99 and register a bigger than expected loss for the year ending June 30,1998. "It is still
        Reuters  -  467 words
      • 376 11 Stock watchdog displeased with its 'indifferent attitude' Reuters [KUALA LUMPUR] Malaysia's securities markets watchdog, the Securities Commission, yesterday reprimanded Sime Darby Bhd for its "indifferent attitude" in handling the takeover transaction of Sime Bank Bhd. The commission said that "their indifferent attitude
        Reuters  -  376 words
      • 346 11 [SINGAPORE] Pacific Century Regional Developments (PCRD) yesterday said claims of HK$232 million (5550.6 million) and US$2.2 million (553.7 million) have been filed against its subsidiary, Beijing Jing Wei House Land Estate Development. Hongkong-listed Kresta Developments made the claim in Beijing courts, for Jing Wei's failure
        346 words
    • FINANCE & COMMODITIES
      • 533 12 But the traditional backers want reassurance about their future role Reuters [LONDON] Lloyd's chairman Max Taylor appealed on Thursday to the insurance market's traditional backers to support his enthusiasm for change, but Names were still looking for reassurance about their future role. "Max,
        Reuters  -  533 words
      • 325 12 Expected pricing considered tight, say bankers Reuters [HONGKONG] Wharf Properties Ltd, a unit of Wharf Holdings Ltd, plans to tap the loan market for HK$l.5 billion (***** million), bankers close to the deal said. And the loan will be launched into the market
        Reuters  -  325 words
      • 355 12 USS/mark: The US dollar took a plunge this week, touching a low of 1.7850 by Thursday night. The technical picture favours further downmove for the coming week although the oversold daily stochastics may limit the move in the short-term. Some upside correction cannot be ruled out
        Source: DBS Bank  -  355 words
      • 404 12 Bloomberg [SYDNEY] Lend Lease Corp, an Australian financial and real estate services company, said yesterday it will seU a further 20 per cent of the UK's largest shopping centre to Prudential Corp. The transaction will give UK-based Prudential a 35
        Bloomberg  -  404 words
      • 302 12 SIMTIX Report Reuters [SINGAPORE] Simex Japanese government bond (JGB) futures firmed yesterday after market participants covered their short positions ahead of the long weekend holiday in Japan. Dealers said buying of long-term bonds by Japanese public funds in Tokyo helped support the JGBs, but
        Reuters  -  302 words
      • 176 12  -  MSCI TAIWAN FUTURES Charlie Kuo Charlie Kuo, service dealer, Refco Singapore THE Simex MSCI Taiwan Index futures surged 8.80 points, in line with the stock index, which posted its biggest gain in two weeks, edging up 108.02 points. The raUy on the Nasdaq
        176 words
      • 184 12 ENERGY REPORT Bloomberg [NEW YORK] Crude oU fell almost 3 per cent on expectations that it will take months for oil producers' output cutbacks to end a world oU glut Venezuela Energy and Mines Minister Erwin Arrieta said on Thursday that agreements to
        Bloomberg  -  184 words
      • 269 12 Reuters AFP London EUROPEAN currency markets ignored the larger than expected US trade deficit and were dominated by dollar sellers for the fourth consecutive day on growing hopes for an end to political and economic stalemate in Japan and Russia, traders said. "The focus was exclusively on Russia
        Reuters; AFP  -  269 words
      • Article, Illustration
        1147 12 DTTHEBAiniCTOSSKATBg Jul]7 c$ IOI nr tm MB toifaKt* Y- Ww 1 |g$Nfc ii Nw S$ K»4 Slf ICtt Mrt Hmi Bft °-935tffl 0-571 1TM IW 4371 24.744 HTH OJffl 8.081 2399 UB2i2t4 ZUDI IDO HO 0 9V> nyne ft75 22?* f?2 n rra 1851 H2 HS 28 5€7 tJ07 9M
        1,147 words
    • 1666 13 8100M fruxunBS jui/7 RUB8IR dosing «t5.30pm) RSS1 CONTRACTUS ctato/kg) Close Votame Open Mm** H|lf| Lo» Sett (touts) Interest lm 98 124.00 290 St»W 124.00 340 Oct 99 125.25 1450 126.00 1450 D« 98 127.25 1450 Jan/mr 99 130.25 1800 99 134.50 1950 MfiS«p 99 139.00 RSS 3 CONTRACT
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    • 2295 13 LONDON MntrMf •**n n«K» 31 Croup 615.400 1.000 AS Ports 322.000 -3.000 Abbay National TI36.000 1.000 AHiad Oomacq 562.400 14.400 Am*c 165.000 -5.000 Astu Group 211.400 -3.600 BAT Ind 720.000 4.600 BG Pic 389.000 4.000 B1CC —138.000 -3.000 BOC Group 859.400 -4.600 BR Patroiaum 860.400 unch BTB
      2,295 words
    • 1634 13 Bloomberg P Nikkei 225 -BLM JAPANESE stocks fell, after four days of gains, on expectations the next premier will have a tough time resuscitating the country's moribund economy. Banks such as Sanwa Bank Ltd paced the decline. Foreign Minister Keizo Obuchi said he'll run for prime minister, and his
      Bloomberg  -  1,634 words
    • Article, Illustration
      1520 14 Reuters f% Hang Seng +4136 STOCKS closed higher yesterday with index heavyweight HSBC Holdings driving the advance, fuelled by overseas market strength, brokers said. The Hang Seng Index ended a relatively choppy day up 42.36 points at 8,628.93. It earlier hit a high of 8,712.07 on the back of
      Reuters  -  1,520 words
    • Article, Illustration
      610 14 Reuters fl Shenzhen B Index +LO5 SHENZHEN'S hard currency B Share Index closed higher on a technical bounce yesterday, reversing course after a week of consecutive closing lows for the year, analysts said. The B Share Index gained 1.05 points to 73.64 on turnover ofc HK$ll million. "The B
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  610 words
    • 349 14 AFP E|WP Index ♦106JB TAIWAN stock market powered up for the third straight day, taking the index above the psychological 8,000 level on Wall Street's strength, dealers said. "Market confidence recovered after both the Dow Jones and the Nasdaq indices soared to new highs. Negative leads from Japan appeared
      AFP  -  349 words
    • 267 14 AFP Reuters PI Wellington +40.63 STOCKS closed yesterday up on the back of falling interest rates. The NZSE-40 Index rose 40.63 points to 2,172.35. "The market is certainly in buy mode at the moment, focused on lower interest rates. It's not company news that's driving it," one analyst said.
      AFP; Reuters  -  267 words
    • Article, Illustration
      711 14 AFP PI Composite Index +12.41 SHARES closed higher yesterday on positive sentiment over the economic outlook as the IMF pledged another US$6 billion (Sslo.l billion) for Indonesia, dealers said. "Most of it is being driven by locals. The IMF news and the fact stocks are trading at the«lower end
      AFP  -  711 words
    • Article, Illustration
      773 14 AFP +1127 THAI share prices closed firmer yesterday amid rumours of possible significant interest rate cuts here and regional market gains, analysts said. "The market was up sharply on overseas market sentiment, and an easing in local liquidity," Vicker Ballas Nava analyst Phadoempop Songkroh said. The stronger yen and
      AFP  -  773 words
    • 303 14 AFP n Manila -9.74 PHILIPPINE share prices closed lower yesterday after investors took profits on early gains. The Philippine Stock Exchange Index shed 9.74 points to 1,787.26. Turnover reached 441 million shares worth 982 million pesos. Philippine Long Distance Telephone Co rose 10 pesos to 955 pesos. AFP Manila
      AFP  -  303 words
    • 593 14 AFP FlAn Ordinaries +4J AUSTRALIAN share prices rose yesterday but early momentum from a stronger Wall Street was sapped by profittaking, brokers said. The All Ordinaries Index rose 4.1 points to 2,814.7, off an intra-day high of 2,825.2. The All Resources Index fell 7.5 points to 1,110.2, while the
      AFP  -  593 words
    • KUALA LUMPUR STOCK MARKET
      • 391 15 AFP Bloomberg Q Composite Index +1&32 MALAYSIAN shares closed higher yesterday on a technical rebound as the ringgit's stability triggered fresh bargain hunting, dealers said. The Composite Index finished at 445.31 points, up 15.32 points from Thursday's close. The Second Board Index closed at
        AFP; Bloomberg  -  391 words
      • 7849 15 INOUSTtlALS Consunwr products Lot Vol Dav Nat r» High Low —Company Solo 000 High Low P/C SmH 4?f Anakou' 0 2 10 3 200 200 11.0 81.1 He So Kisr 220 5? ,3 3 4!° It Hi 5« CTCEMX -K UO<2 1.7 30X8 3" 2 S C f8 140 '2
        7,849 words
    • WARRANTS&OPTIONS
      • 3401 16 BONOS, LOANS i WARRANTS '998 Ltrt Vol Day Last Ouott A«q High Low stno Company Solo ♦or- COOO) High Low Buyer Sollor Price 23.5 9 m 3000 m AMDB c5 5%*****6 10.5 unch 5 10.5 10.5 10 S 205 5 3160 "Acer W0I0731 US$ 5.5 unch 3 5.5 5.5 5
        3,401 words
      • 160 16  -  WARRANT WATCH -By R Sivanithy IN yesterday's column, we said it might be better for the time being to focus on in-the-money warrants, seeing as how the out-of-the-money variety seems unable to benefit from their obvious gearing advantage. One of the long-dated warrants that's very close
        160 words
    • 1883 16 Transaction date Jul 17 tuursux STOCKS —-i- a £S°sl. ,y si135 28 m s 5000 AISB 50c -.44.5 *5 284 46 40 44 45 50 3 3 2 3 ra j a* a 65.5 Mm, 500,I AMDS SOc -5.5 .1 431 i S lo fj £2 48 33
      1,883 words
    • 5628 17 Transaction date: Jul 17 Gr Cr M Wt HW, |J« IML. tf? Yf. 0*v Lalt OiMt* Dh Mi TM W Cap Avg ,tM# c Saia COOP) High Law »uyar *a«ar Cw P/E $m5 Mg moosTtuis 1020 AC£ DYMm c,20c U 5 *0-5 »7 U.S
      5,628 words
    • 1109 17 ar rlSn w °"l, t eg? K ssJs 134 50 2000 AM HMQSSC 779- I I I 80 I I I I IT! 2 M A t0K> h- 5 »8 73 71 71 72.5 15.ON 7.0 2.1 6.7 81.6 67 ASJHWg*20c 57 57 23 10.2 0.9 HO 513 57
      1,109 words
    • STOCK EXCHANGE OF SINGAPORE
      • 219 18 Stocks VotwM *MBf Capital 17,706.000 •M Resources 15,649,000 SingTel 15c 9,314.000 UIC 8,754,000 •Pub Bk Foreign 7,288,000 DBS Foreign 7,271,000 •RHB Cap BM 6,329,000 DBS Land 6,137,000 •RHB Cap Wt99 5,481,000 •Berjaya Group 5,084,000 Stocks DBS Foreign 69,473,832 SPH 41,624,500 OCBC Foreign 26,911,590 SingTel 15c 23,706,090 UOB Foreign 18,006,912 OUB
        219 words
      • 655 18  -  STOCK MARKET COMMENTARY Rise broad-based and accompanied by jump in volume; gains equally impressive in Malaysia By R Sivanithy [SINGAPORE] A record-breaking Thursday rally on Wall Street, a firm Japanese yen and a recent stream of good news rather than bad
        655 words
      • Article, Illustration
        69 18  -  -by Shiv Taneja NORTH Borneo Timber closed seven cents higher yesterday at 98.5 cents on a volume of 3.42 million shares, compared with its 10-day traded average of 1.1 million shares. The daily RSI is heavily oversold, but in the near term, the counter is expected to trade
        69 words
      • ON THE GRAPEVINE
        • 81 18 PROPERTY developers, we know, were quite unhappy with recent comments by Finance Minister Richard Hu that prices were still high in some sectors and that he would like to see property prices ease downwards gradually. But just how unhappy developers were, we found but yesterday. A well-placed source
          81 words
        • 89 18 WE hear that the phone lines of DBS Securities were jammed yesterday with callers asking for a copy of its 73-page property report which predicts that property stocks are poised for a recovery ahead of a bottoming-out of the residential market in 12 to 18 months. The
          89 words
        • 72 18 DBS Bank recently hired an American banker to be its chief executive officer. Its annual report says it wants to be a "regional bank with a global reach". So it was quite puzzling for foreign journalists based in Singapore that they were barred from covering the
          72 words
        • 138 18 WE stumbled across "Singapore's best kept secret" at lunch yesterday. Something that even the boys at Phoenix Park may not have heard about. We are referring to a little-known state-fUnded radio station called Radio Singapore International, which is not available on FM channels in Singapore but available
          138 words
        • 122 18 SO just who is guilty of spreading all that bad news that Singapore businessmen are now growing tired of reading? Just released is a survey by global executive search firm Spencer Stuart of the opinions of executives across Asia. The results of its "Asian Business Leaders Poll"
          122 words
        • 132 18 SO who invented Viagra, the blockbuster Impotence drug? Biologists, chemists, biochemists and chemical engineers are named on three patents held in Britain's Patent Office covering the six-year development of the drug, reports Reuters, and they are now quibbling over who really created it. "There were
          132 words
  • Page 10 Advertisements
    • 215 10 TheßusinessTimes inoaporb Presents Good Life 0 r Guess the Good Life' Lifestyle activity shown in the picture T3 Q This is your LAST CHANCE to win attractive prizes experience the latest fragrance from C Davidoff brought to you by The Business Times. I f J Simp'y give the correct answer
      215 words

  • Page 11 Advertisements
    • 756 11 JL OiwawCmUnvasn CONGRATULATIONS TO GRADUANDS OF THE OKLAHOMA CITY UNIVERSITY PROGRAMMES 97/98 Goh Toh Seng Rene Tan Choon Teck Seow Wee Yong, Richard Wang Meng Kwong, William Lim Beng Lam Sanjay Ramchandra, Nemade Tan Siew Lay Yeo Eik Hin, Eric Patrick Kay Ren Jim Sudheer Prabhakaran Tay Bee Choo Yue
      756 words



  • Page 14 Advertisements
    • 57 14 1 d like to place an A buyer I love this car V advertisement to J jV the very J g f that 1 found my car -U nextday through J jl m. -A Th e Straits Times J vroom, Class'ficd (S(|yfeß{f Jff W whata J The Straits Times Classified
      57 words
    • 23 14 ♦The Seoul market was closed yesterday for a holiday Buy It. Sell It. Find It. Classified. CATS. 1800-737-1166 Call Today For Results Tomorrow.
      23 words


  • Page 16 Advertisements

  • Page 17 Advertisements
    • 62 17 your advertisement in found my pet throughiX J. The Straits Times Classified... I I the ad J I Straits Times Classified. 1 you still have the puppy... 3 described. 8 0 n 8 to take real go hc n>ih; Buying or selling through 4fofm The Straits Times Classified is child's
      62 words

  • Page 18 Advertisements
    • 602 18 BUSINESS .Vo/id's To advertise tall toll-l'u-i- IXOO-741 IS,S3 NOTICE IS HEREBY GIVEN that, I Koh Guat Eng of Bukit Timah Road, Saraca Court, Maplewoods, Blk 993 #05-11 Singapore *****1, have applied for a Beer House, Second Class Licence in respect of M/s V 8 Movies Cafe located at 200 Victoria
      602 words
    • 637 18 IN THE MATTER OF THE COMPANIES ACT, CAP. SO ANO IN THE MATTER OF JAPAN LOGISTIC WARE (S) PTE LTD (In Members' Voluntary Liquidation) Notice is hereby given.pursuant to section 308(2) of the companies act.capso.that the final meeeting of members of the above-named company will be held at 10,Jalan Besar,#o6-02,Sim
      637 words
    • 94 18 Advertising in Turbulent Times Are you Getting the rea(sh_ as promised? SHIPPING TIMES Q UARANTEES *48,000 daily circulation! In Singapore, when you want to reach out to a select target audience in HE only one daily oFFers you the advantage oF maximum reach at minimum cost. And that's Shipping Times.
      94 words

  • EXECUTIVE Lifestyle
    • 1605 19  -  Norman Foster, creator of such icons as the Hongkongßank headquarters and the much-copied Stansted airport in London talks to JAT hhosla about his work and his design philosophy JAY KHOSLA The writer was a guest of Cathay Pacific Airways The office of Foster Associates in
      PICTURES COURTESY OF FOSTER & PARTNERS; LAN LAMBOT  -  1,605 words
    • STRAWS In The Wind
      • 60 19 TOMORROW, 30,000 random households in Singapore will have their water supply cut for two hours without warning to demonstrate the need to conserve water. According to wags on the Internet, water usage is expected to triple as a result as the entire nation fills up pails of
        60 words
      • 51 19 ALSO on the Internet are these tips on how to save water: Bathe with a friend. Flush only once a week. ♦Give your fish half their water. Wash the car with the laundry water. For those who live near the coast, pump sea water to flush
        51 words
      • 45 19 THE World Cup is finally over. Or is it? One Frenchman predicts that France, which won the coveted trophy, will see a mini baby boom in nine months' time. That's because, he says, "when the French are happy, they make love!"
        45 words
      • 58 19 PROPERTY agents are so dulled by the current slump that it must be affecting their general intelligence. One colleague called such an agent, saying she was looking for a flat for a friend. The property agent asks: "What is your friend?" Reply: "He's an Englishman." To which the
        58 words
    • VIEWPOINT
      • 678 20  -  Off the CUff by The TV show featuring those ample aliens, far from being harmless to toddlers, conld result in the world being swamped by custard-guzzling lardballs by Jaime Ee I HAD a terrible nightmare last night. I dreamt that I'd
        678 words
    • PROFILE
      • 2024 20  -  Akbar Tanjung, who played a crucial role in bringing an end to Mr Suharto's 32-year rule, could well help to decide who the country s fourth president will be if he does not become a contender himself, says YANG RAZALI KASSIM The writer, BT's
        FILE PHOTO  -  2,024 words
    • ART
      • 1002 21  -  pabvathi n n&ray&m considers the results of a groundbreaking collaboration between Aboriginal artists and specialist printmakers PARVATHI N NARAYAN OVER the past two decades, the Canberra School of Art has invited a number of Aboriginal and Torres Strait Islander artists to work with the
        1,002 words
    • 654 22  -  CINEMA Six Days, Seven Nights unfolds with such predictability that even an Indiana Jones has trouble rescuing the film By\ Susan Tsang TAKE a young, sophisticated city-slicker and a beat-up, hard-drinking pilot who walked away from it all, throw them together for Six Days,
      654 words
    • 594 22  -  CINEMA What happens when a woman falls in love with a gay man? The Object of My Affection offers easy, trite resolutions to a potentially painfnl situation By'. Parvathi N Narayan Lovers, in literature, theatre or cinema, have always needed barriers or else
      594 words
    • 814 23  -  THEATRE Ah Kong's Birthday Party is a rowdy, bitchy get-together where the andience may be called npon to play a part By Susan Tsang TO get to Ah Kong's Birthday Party, one must move past a couple of small disappointments. Getting to the
      814 words
    • Article, Illustration
      399 23  -  Compiled by M Yasotha CONCERTS Music Master Series/ Rachmaninov's Cycle Russian pianist Nikolai Demidenko returns to perform Rachmaninov's Piano Concerto No 3 in D minor which was popularised in the movie Shine. Conductor George Cleve leads the SSO in more familiar Mozart the Overture to Don Giovanni and
      399 words
    • EPICURE
      • 1226 24  -  tamsuyem finds out from the cognoscenti where they go for those value-for-money meals TAN SU YEN THESE days, too many fancy restaurants open with a bang only to close down with a whimper a few months later. Yet recession or not, people still drive all over
        ARTHUR LEE  -  1,226 words
      • 536 24  -  As part of the Singapore Food Festival, the E&O Express has put together a special dinner jonrney By 1 Tan Su Yen THE train turned a corner and the Causeway came into view. A party of Scandinavian retirees oooh-ed and aah-ed over
        536 words
      • 792 24  -  WINE CONNOISSEUR There's just one problem with the wines their high prices By\ NK Yong THE following notes were made during a week of tasting in Bordeaux at the end of last month. The wines had very good dark colours and lots of ripe fruit. They
        792 words
      • 233 24 CRAVINGS "NICE plate, good taste, light cooking," says top Belgian chef Pierre Wynants in a succinct description of his brand of fine fare. A third-generation chef, Pierre Wynants owns three-Michelin star, Comme Chez Soi, in Brussels. And visiting at the Raffles Grill last
        233 words
      • 116 24 FORGET fusion. In these tough times, chefs have to go global to keep their jobs. Paulaner Brauhaus, which describes itself as Singapore's First German Theme Restaurant and Microbrewery, has come up with a $10.90 set lunch that requires the chefs to cook Western, Thai, Indonesian and Chinese. Diners
        116 words
      • 85 24  -  Compiled by Tan Su Yen EXECUTIVES in a hurry can still fit in some fine dining at the Harbour Grill in the Hilton International. The restaurant has put together a menu that will have diners in and out of the restaurant in 32 minutes flat. Priced at
        85 words
    • Article, Illustration
      662 25 Aberration. Scare-fest starring Pamela Gidley. Chinatown, Yishun, Changi, Century. Ana«f tin Animated feature about a potential lost Romanov. Eastpoint, Central, Pavilion. City Of Angels. Angel Nicolas Cage falls for Meg Ryan. Woodlands. Dark City. Spooky urban tale starring Rufus Sewell. Lido, Toa Payoh, Empress, Jubilee, Whitesands, Eastpoint, Cen tral,
      662 words
    • 123 25 Cathay Org Cathay 338-3400 Eastshore 346-1816 Orchard 235-8386 Picturetouse 338-3400 Yangtze 223-7529 Eng Wah Empress 777-5867 Jubilee 454-1640 Mandarin 292-9401 Marina 338-9719 Whitesands 585-1782 Qoklsn Vlllaga BedOk 443-2405 Bishan 353-8885 Boon Lay 792-2788 Broadway 454-9394 Majestic 533-9032 Marina 337-9488 Pavilion 786-5788 Tampines 8 786-5788 Tiong Bahru 274-6588
      123 words
    • TRAVEL
      • 969 26  -  New Delhi oozes history and pomp as a succession of rulers erected edifices clearly meant to impress and intimidate, says mark graham MARK GRAHAM EHHjj ROM a distance, they looked like a formidable bunch of fighting men. Close up, their towering height, bristling beards and gleaming
        MARK GRAHAM  -  969 words
  • Page 19 Advertisements


  • Page 21 Advertisements
    • 142 21 I I I VOTE AND WIN $20,000. I nmmnui MA HUUBMPVUBHB WMHUUMDhB «Mp "j| M H^l 5 is VI H J3? 1 rw /r*»4 /<M p*»*i» canon BBQB9HBHKS33 MUIJ C-*. M IMNIMII 0 M.«tU« R«bK» 0 M~ni~ CoM 5t0,.,. ■*0 t*m,u Young 4 Ru*c« Adv*fti*a» H*«i*ti Pickaro *0 Agancy Smiui.
      142 words

  • Page 22 Advertisements
    • 20 22 Such a market -for choice jobs J Any job. any Career. Available Any Day. Any Time. Anywhere. Singapore Press Holdings
      20 words
    • 37 22 BUY^ SELL* FlNfe* Classified ads put home-seekers on solid ground. No matter what it is, you can always buy it, sell it or find it with the Classified TOLL FREE 1800-737-1166 H Call Today For Rosults Tomorrow.
      37 words

  • Page 23 Advertisements
    • 230 23 Where to wine, dine and entertain... T< < Sssna&r I?®* 5 F E F Global 7 Uimvinvtuuii,,, intemaiionm Emergency Service Whilst overseas. 290 4545 Cafe Plaza "Tunch" is the best for lunch and high tea rolled into one. Which means longer serving hours and even more scrumptious spreads. Saturday, Sunday
      230 words
    • 99 23 1.. Jt* Now al 111 THE HEEREN in Orchard mll j Jlut/ientic lhai Cuisine iM' the Business Times readers LA durin B to enjoy tjjVji discount from the R| **Kane menu J W fftT vaßd tiU 31 Jdy ,998 y*18 For reservation. V <jk please call: 736 1998 fennonqirass thai
      99 words
    • 82 23 IK [PiUWDAV 1 r BRUNCH ?52.00*« PER ADOLT I WITH FREE-FLOW OF CHARLES HEiDSIECkf CHAMPAGNE, REP WHITE WINE, draught tiger seer anp FRESH FRUIT JUICES >28.50"" PER CHILD with free-flow of soft drinks I PAOLO PINGS PASSIONATELY ITALIAN TASTIFULL' CHINESE ROYAI CROWNE PLAZA SINGAPORE 25 SCOTTS ROAD. SINGAPORE *****0 V.
      82 words
    • 24 23 I Dinner Promotion |I MIN 2 ADULTS —J I For advertisement details on Wine, Dine and Entertain, please call Adeline Goh at 740 2212
      24 words
    • 100 23 ®WS,*w eoAwa Mr SELECTED j DIAN XIN DISHES j |AT $2.50 FOR LUNCH j 25% OFF j YOUR DINNER BILL*! THIS MONTH Reservations:224-3203 j *On nonfunction nights only J 7th Floor, Overseas Union House, Collyer Quay, Singapore *****1 1...........; p-You ll Find The Oysters For Lunch In Our Garden. BuflV-t
      100 words


  • Page 25 Miscellaneous
    • 607 25 A stint in the Wimbledon 98 Men'. .11 Doubles Finals, 10pm, jailhouse Premier© 12 Todd Woodbridge and The Naked Truth, 9pm, Mark Woodforde of 5 Australia play Paul In the last episode, Haarhuis and Jacco Camilla refuses to Eltinghofthe disclose her sources about Netherlands for the tide, a rumour concerning
      607 words
    • 1493 25 TODAY'S TV 12.00 NN TV Innovations. 5 30 Denver Thp Last nino LOO PM Asian X-Games >.ff ur Qualifiers. v Kaanbom Karpom. 2.00 Asian Bowling Tour JjJV MGR. Philippines. 7.30 I amil Seithi (News, T). 3.00 Soccer: Football Feva. V 1 800 er ta 12 ews > M)4.00 Nature Showcase:
      1,493 words