The Business Times, 29 August 1998

Microfilm: NL21220
Total Pages: 32
1 32 The Business Times
Page thumbnail Page 1
  • Title Section
    Masthead
    13 1 THE BUSINESS TIMES MITA(P) 110/12/97 85c SINGAPORE Internet: http://business-times.asial.com.sg/ WEEKEND EDITION, AUGUST 29-30,1998
    13 words
  • Article
    MARKET SUMMARY
    64 1 nfin mM BMLM (-25.62) BT-SRI 36&2» (-13.91) BTCQMP 72L20 (-24.90) BTMGA ***** (-6.23) STPCT MAHET IHDKaBS Friday Change KLSECOMP mil 106 NIKKEI *****.63 -49ai« HANG SENG 7,829.74 9323 SET INDEX ***** -£00 JAKARTA OOMP —339.02 -15.93 MANILA COMP —1,194.71 -72.28 TAIPEI WPI 6,723.77 -8953 SEOUL OOMP ***** -4
    64 words
  • Article
    FINANCE
    75 1 FOBEX BATES us$ ss USS 1.781 £(l'S$/S$ per 1666 1949 DM 1.794 0992 YEN 143JS 1143* RM 4126 0.421 HKS 7.760 0130 BAHT ***** 0.042 RUPIAH 10.941 0.016* 'Stto lOOunltt FUME BATES SINGAPORE* 7.88 KUALA LUMPUR 11.50 JAKARrA J8.00 BANGKOK 14.75 Wwu 22.90 HONGKONG 10.25 TAIPEI 8.80 SYDNEY 8.45
    75 words
  • Article, Illustration
    Lock icon HK declares victory over speculators after HK$100b battle
    972 1  -  From Quak Hiang Whai in Hongkong THE Hongkong government, which spent an estimated HK$lOO billion (Ss23 billion) or about 13 per cent of the territory's foreign reserves in the last two weeks to push up shares and index futures, yesterday declared victory
    Source: Bloomberg  -  972 words
  • Article, Illustration
    Bank Negara chief and deputy governor quit
    1023 1  -  Governor said to be at odds with Mahathir over monetary policy From Eddie Toh, Ruth Wong in Kuala Lumpur MALAYSIAN central bank governor Ahmad Don, a close ally of Finance Minister Anwar Ibrahim, has thrown in the towel after months of bickering with
    1,023 words
  • Article
    Lock icon Dow in danger of losing 8,000 mark as European stocks falter
    451 1 Some pin hopes on Greenspan weekend meet; Asia takes another hit Reuters, R Sivanithy [LONDON] Russia's financial chaos kept global equity markets on the boil yesterday, with European shares badly bruised again and the Dow Jones Industrial Average looked
    Reuters,; R Sivanithy  -  451 words
  • Article
    55-stock Straits Times Index unveiled
    1527 1  -  By Wong Wei Kong [SINGAPORE] Bigger and better, that's the new Straits Times Index. Unveiled yesterday by Singapore Press Holdings, the 55-stock index starts trading on Monday, replacing the 30-stock Straits Times Industrials Index (STII) which has served as the market benchmark for three decades.
    1,527 words
  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      141 1 nrsiDE CityDev town 53% City Developments yesterday announced a 53% fall in interim earnings to $109 m, a figure that falls far short of market expectations, Pg IB H&ards «f high finance India-born Rakesh Saxena likes to think of himself as a financial wizard. But it's a risky occupation he's
      141 words
    • Advertisement
      Page 1 Advertisements Column 2
      89 1 Russia may take over banks, industry, Pg 10 European equities still worthwhile, Pg 3 Market reports, Pg 20-24 Dr Krugman's cur* It's something I hate to recommend. Asian countries need to delink the domestic capital market from the Vk external capital market. It certainly means debt moratoria wF and probably
      89 words
    • Advertisement
      Page 1 Advertisements Column 3
      48 1 New index'rolled back' 13 years, Pg 2 .A I r fc *S|£? I Hs£ "Mi Y jf-n ffci "T Bl V« ffißn' il* 3£sR&'-' ALFRED DUNHILL LONDON The New City Scape Leather Collection >. t r RAFFLES HOTEL ARCADE THE PARAGON NGEE ANN CITY OUB CENTRE SOGO RAFFLES CITY
      48 words
    • Advertisement
      Page 1 Advertisements Column 4
      8 1 HE economy shrinks 5 in Q2, Pg 5
      8 words
Page thumbnail Page 2
  • LAUNCH OF STRAITS TIMES INDEX
    • Article, Illustration
      Lock icon New index 'rolled back' 13 years to last downturn
      728 2  -  This will allow index to capture a more complete cycle of troughs and peaks By. R Sivanithy THE new Straits Times Index will be rolled back by 13 years to the last market downturn in 1985 so as to capture a
      Source: SPH; CHRIS LOH  -  728 words
  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      75 2 JUNK". ANTIQUE VV\ ,'t'TREASURES? \Q I 11 y° U/ the v cou c j ust ugly and IV 1 1 |1 worthless, but an antiques collector could I m f/ »|1 take great delight in them. (And be willing I 1/ 1/ to pay a handsome sum!) So before you
      75 words
Page thumbnail Page 3
  • FOCUS: PERSONAL FINANCE & INVESTMENT
    • Article, Illustration
      Lock icon European equities still worthwhile
      621 3  -  Creation of common market, Euro seen to be key drivers despite Russian crisis By\ Shiv Taneja [SINGAPORE] WITH over $200 million of local investors' funds funnelled into European equities over the past year, Russia's financial crisis couldn't have come at a worse time. Consider this: Since
      FILE PHOTO  -  621 words
    • Article
      Staying cool amid turmoil
      308 3 FOR local investors who have just invested in European equities via one of the many local unit trusts that invest in the Old Continent. no one will blame you if you are feeling increasingly anxious. After all. Asia is down the tubes, and with the US
      308 words
    • Article, Illustration
      Lock icon Fund profile
      310 3 Compiled by BT Investment objective To achieve medium to long-term capital growth through investments in equities of companies with assets in or earnings derived from China. Investment style The fund aims for consistent outperformance on a risk adjusted basis, in comparison to its benchmark and its peer group.
      Compiled by BT; Source: S&P  -  310 words
    • Article, Illustration
      Lock icon Electronics sentiment dips once again
      996 3  -  TAKING sfqsisv Want Want surges as Acer ends week as lead loser By Louis Beckerling [SlNGAPOßE] The Hongkong market had its Monetary Authority putting its money where its mouth was this week; and Want Want Holdings had its chairman doing the same. The odd couple
      Source: Datastream  -  996 words
    • Article
      Pricing, record, sentiment make CEH a stag
      556 3  -  Competition, margin concerns weigh against the firm By< Carol Eng [SINGAPORE] Civil engineering firm Chew Eu Hock (CEH) Holdings is selling itself as a "defensive stock" in the "right" industry now public construction, which will see continued growth this year despite a projected
      556 words
  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      99 3 Sound Us Out First -JBOSEF~ ATLAS HI-FI PTE LTD Eh'tti'r south/ ttvotfih 001-116/124 Suntec City Mnll (Tower Two) Tel: 339 0966 Fax: 336 4678 GdITIG Meet the George Soros <* Raymond Ouah of Ang Mo Kio leads in The Game, the investment competition from Standard Chartered His unit trust portfolio
      99 words
Page thumbnail Page 4
  • SINGAPORE AT HOME & ABROAD
    • Article, Illustration
      Lock icon Manufacturing output falls 6.2%, biggest in 16 mths
      361 4  -  July output dragged down by 13% plunge in key electronics sector Jennifer Lien A 13 per cent plunge in the key electronics sector dragged manufacturing output down by 6.2 per cent in July, the sharpest drop in 16 months. With the latest
      Source: Bloomberg  -  361 words
    • Article
      HDB open to later payment in shop sales
      415 4  -  Byi Conrad Raj THE Housing Development Board is willing to consider appeals to defer payment of the last 8 per cent of the purchase price of its shops, on a case-by-case basis, given the current economic crisis. Currently, buyers of HDB shops
      415 words
    • Article
      Esso, Mobil, BP cut petrol prices for all grades
      341 4 THE consumer is king after all. In the wake of calls for lower fuel prices, Esso, Mobil Oil and British Petroleum have cut petrol prices for all grades by two cents. Esso's lower prices came into effect last night while BP
      341 words
    • Article
      Business as usual for US firms in S'pore
      248 4  -  Hy Marissa Chew DAYS after the Planet Hollywood bomb blast in Cape Town, South Africa, American companies in Singapore say it is still business as usual. A quick poll of five US businesses found that none have been affected by the bombing
      248 words
    • Article, Illustration
      Lock icon Reinsurers urged to settle Indon riot claims
      514 4  -  Move will avert long delays over likely legal disputes liy\ Soh Tiang Keng TO ensure speedy settlement and avert long delays over possible court disputes, the Singapore Reinsurers' Association (SRA) has called upon its members to pay out claims arising from the May
      FILE PHOTO  -  514 words
    • Article
      Visitor arrivals slide 19.5% in July
      289 4  -  Asean and Taiwan numbers down but China, Australia up Hy Jenny Lam VISITOR arrivals in July fell 19.5 per cent to 556,880, kicking off a bleak start to the second half of the year. In the first half, arrivals dropped 17.2 per cent to
      289 words
    • Article
      Development levy to be cut by up to 35%
      402 4  -  Some consultants say the cuts could have been bigger ity David Boey THE government will lower development charges by up to 35 per cent from Tuesday to take into account the downturn in the property market. The National Development Ministry said
      402 words
    • Article
      Local Enterprise Finance Scheme to be extended to listed firms
      474 4  -  Move also to widen access to short-term loans By i Carol Eng THE Local Enterprise Finance Scheme (LEFS) will be enhanced for the third time this year with access to shortterm credit improved, and an extension of the scheme to
      474 words
  • Page 4 Advertisements
  • Page 4 Miscellaneous
    • Miscellaneous
      Page 4 Miscellaneous Column 1
      425 4 CRYPTIC CROSSWORD 9 Mislead retiring minister in Jft-JL-JH—— 10 Assemble for prayer (7) concerning (5) —LmJ——LaJ^ 13 A man in an almost hysterical Counter-revolutionary's de- 18 Out of play or he'll press his jBL— changed, note (7) inJ 23 Far from well done so un- —JBL—HL—JBL— 25 Continent is backed
      425 words
Page thumbnail Page 5
  • ASIA'S ECONOMIC SLUMP
    • Article
      Hongkong in recession, with economy shrinking 5% in Q2
      613 5  -  Government forecasts economy will contract by 4% this year Prom Loh Hui Yin in Hongkong HONGKONG'S economy is in full-blown recession, with the government forecasting that it will contract by 4 per cent this year. The recession, Hongkong's first since 1985,
      613 words
    • Article, Illustration
      Lock icon Departure sudden but not a complete surprise
      391 5  -  AHMAD DOITS RESIGNATION From Ruth Wong in Kuala Lumjrur AHMAD Don, Malaysia's fifth central bank governor who was appointed on May 1, 1994, is the third successive governor to quit the illustrious position, after Jaffar Hussein and Abdul Aziz Taha, after the first
      FILE PHOTO  -  391 words
    • Article
      Lock icon No yuan devaluation, reaffirms Premier Zhu
      277 5 He is also confident 8% economic growth target can be met AFP [BEIJING] Premier Zhu Rongji has reaffirmed that China will not devalue its currency and expressed confidence the country's economic performance in the second half would be strong enough to meet the government's
      AFP  -  277 words
    • Article
      Asian currencies see-saw, traders point to Soros
      627 5  -  Yen finishes just np while rnpiah, ringgit, Sing weaken By Larry Wee [SINGAPORE] George Soros was once again the name on many lips yesterday, as Asian currency traders pointed their fingers at American hedge funds for the extremely volatile moves in the Japanese
      627 words
    • Article, Illustration
      Lock icon Tokyo shares plunge to 12-year low
      309 5 AFP [TOKYO] Japanese share prices dived to a 12-year low yesterday as investors ran scared from the Russian economic crisis and sharp falls on Wall Street, brokers said. "Fear is predominant in the market," said Russell Jones, chief economist at Lehman Brothers Japan. "Russia
      AFP; REUTERS  -  309 words
  • Page 5 Advertisements
Page thumbnail Page 6
  • FOCUS
    • Article, Illustration
      Lock icon Asia needs radical strategy: Krugman
      3800 6  -  Once denounced ss a heretic for Questioning the basis of Asia s economic miracle, MIT Economics Professor Paul Krugman is now the biggest draw when it comes to commentators on Asia's economic crisis. He talks to BT's regional economics editor Vlkr&m Khanna about how the
      PHOTOS BY ARTHUR LEE  -  3,800 words
  • Page 6 Advertisements
    • Advertisement
      Page 6 Advertisements Column 1
      11 6 Where Comfort And Convenience Are Simply Affordable S| JMETtan i fl
      11 words
    • Advertisement
      Page 6 Advertisements Column 2
      423 6 British American Tobacco BRITISH-AMERICAN TOBACCO COMPANY (SINGAPORE) LTD (Incorporated in the Republic of Singapore) ANNOUNCEMENT The Board of Directors is pleased to announce the following unaudited results for the six months ended 30th June 1998. SIX MONTHS TO 30TH JUNE THE GROUP 1998 1997 $000 $000 Turnover 127.639 129,459 -1.4
      423 words
Page thumbnail Page 7
Page thumbnail Page 8
  • THE REGION
    • Article
      Lock icon Garuda reschedules US$285m foreign debt
      432 8 JAKARTA Indon airline also planning to sell off its maintenance unit, says report AFP, Reuters PT Garuda Indonesia, the country's flag carrier, has managed to renegotiate some US$2B5 million (*****.2 million) of US$4OO million in matured foreign debt, a report said here yesterday. "The rescheduling
      AFP,; Reuters  -  432 words
    • Article
      Lock icon IMF measures failed in Asia: poll
      367 8 SINGAPORE 80% of Asian execs say IMF solutions did not work Reuters A POLL of top Asian business executives has shown most of them believe the IMF-spon-sored solutions for economic recovery in the region have failed, management consultant AT Kearney said yesterday. Kearney said
      Reuters  -  367 words
    • Article
      Lock icon Worst is over for M'sian economy: Anwar
      340 8 KUALA LUMPUR AFP MALAYSIAN leaders said yesterday that the worst was behind the economy after a second-quarter slump plunged the country into recession for the first time in 13 years. "From our estimates, the worst is, of course, the second quarter," Finance Minister
      AFP  -  340 words
    • Article, Illustration
      Lock icon Philippine Q2 GDP down 1.2%
      369 8 MANILA AFP THE Philippine economy contracted in the three months to June, and may be on the verge of recession, Economic Planning Secretary Felipe Medalla said yesterday. "I don't rule it out," he told a news conference when asked if Manila could slip into recession.
      AFP  -  369 words
    • Article
      Lock icon Bomb threat at Jakarta's Planet Hollywood
      189 8 JAKARTA AFP HUNDREDS of customers and cinemagoers were forced to evacuate Jakarta's Planet Hollywood restaurant after the management received a bomb threat over the phone, press reports here said on Thursday. "The caller told me there is a bomb in the building and said
      AFP  -  189 words
    • Article
      Lock icon KL denies spat with S'pore led to war games pullout
      340 8 KUALA LUMPUR Money was the only reason behind M'sia's withdrawal from the exercise Reuters MALAYSIA yesterday denied reports that its decision to pull out from a five-country military exercise stemmed from a spat with Singapore, saying money was the only
      Reuters  -  340 words
    • Article
      Lock icon Asean ministers to push for earlier Afta deadline
      201 8 MANILA AFP ECONOMIC ministers of Asean will push for an accelerated free trade area in the region when they meet here in October, a Philippine trade official said yesterday. Trade and Industry Assistant Secretary Edsel Custodio told reporters here that Asean economic
      AFP  -  201 words
    • Article
      Lock icon Asia magazine to close down next month
      205 8 HONGKONG AFP HONGKONG-based Asia magazine will shut down next month, the latest victim of the region's slump, a company spokesman said yesterday. The fortnightly magazine, jointly owned by four regional newspapers including Hongkong's South China Morning Post, has not been attracting enough advertising
      AFP  -  205 words
    • Article
      Lock icon A$ stages recovery after intervention by RBA, Fed
      500 9 SYDNEY Bat recovery is not sustained and twit remains under heavy pressure AFP THE Australian dollar made a partial recovery yesterday, following intervention by the US Federal Reserve, after crashing to a new low as investors dumped commodity currencies amid fears of
      AFP  -  500 words
    • Article, Illustration
      Lock icon Aussie students march against racism
      234 9 SYDNEY Reuters SCHOOLCHILDREN burned posters of anti-immigration politician Pauline Hanson yesterday as young people across Australia took to the streets in anti-racism protests. Police stopped traffic as a group of about 400 school and university students some of them under 10 years old marched through
      Reuters; AFP  -  234 words
    • Article
      Lock icon Seoul admits it tried to develop N-weapons
      161 9 SEOUL AFP SOUTH Korean Prime Minister Kim Jong Pil yesterday admitted that Seoui once tried to develop nuclear weapons but has since chosen a nuclear-free path, officials said. The comments, a rare official admission of South Korea's erstwhile nuclear ambitions, came amid worries
      AFP  -  161 words
    • Article
      Lock icon Take action to stabilise Asia's economy, Jiang tells Japan
      247 9 BEIJING AFP CHINESE President Jiang Zemin has again notched up pressure on Japan to take action to help stabilise the cri-sis-hit Asian economy, the official China Daily reported yesterday. Although the Asian financial crisis had affected China's economic growth, Beijing "has
      AFP  -  247 words
    • Article
      Lock icon Weak chaebol units face loan curbs
      228 9 SEOUL AFP SOUTH Korean banks will halt fresh loans to subsidiaries of the country's top five conglomerates if they are deemed non-viable, the Financial Supervisory Commission (FSC) said yesterday. The measure will take effect next month at the earliest, FSC head Lee Hun Jai
      AFP  -  228 words
    • Article, Illustration
      Lock icon Japan's small firms to get special 40t yen credit line
      431 9 TOKYO New line to support lending by municipal credit associations AFP, Reuters THE Japanese government decided yesterday to throw a 40 trillion yen (*****.8 billion) lifeline to small firms suffering from a tightening credit crunch, officials said. Tokyo will tell
      AFP,; Reuters  -  431 words
    • Article
      Lock icon China's prospects still attractive: poll
      301 9 SHANGHAI Foreign investors bullish despite Asia financial crisis AFP FOREIGN investors are still bullish on prospects in China despite the Asian financial crisis, according to the results of a survey published yesterday by the official China Daily. The Price Waterhouse Coopers survey found that 42
      AFP  -  301 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1877 9 CITY FLIGHT ETA FLIGHT ETC Of 06 1845 S***** 2359 MoWtf* 8*7381 1930 8*7382 2055 fukuoka S0989 1700 S0990 0115 0F81 1930 Of82 2055 Gu«i«rtoortC C2351 2045 SO229 2220 cc H-jHm S0609 2120 S0810 1020 Amsterdam K1843 0450 KL838 2300 tf «—c S023 0710 ***** 1105
      1,877 words
  • Page 8 Advertisements
    • Advertisement
      Page 8 Advertisements Column 1
      148 8 3 illy $48. At Le Meridien on I wait until December In hold youi Dinner and Dance. I sherin the /tart's mood earlier and enjoy s/fecial rates when \ou honk the lestive Package. We drew u/t tin• Hallrnoni with festive decor, tempt yon with a snmptnons meat: Chinese <» Western
      148 words
Page thumbnail Page 9
Page thumbnail Page 10
  • THE WORLD
    • Article
      US markets abuzz with fear as Dow breaks on rouble straw
      933 10  -  Benchmark indices headed sonth after Dot's 4% drop with Wall St ready to sell From Andrew Marks in New York FEARS that Russia's collapse will spread to other emerging markets and lap onto American shores sparked a major sell-off
      933 words
    • Article, Illustration
      Lock icon Standing in line for US dollars
      49 10 [MOSCOW] Muscovites queueing up at an exchange office yesterday. Russia's central bank has suspended trade in the rouble following its steep decline against the US dollar and Russians are besieging banks to withdraw their life savings, hoping to swap them for dollars. REUTERS
      REUTERS  -  49 words
    • Article
      Lock icon EC to refocus existing aid to Russia
      182 10 BRUSSELS Bloomberg THE European Commission said it would shift its existing aid to Russia to tackle the country's financial woes, and reiterated that the crisis will have a "negligible" effect on the European Union's economy. The EU's executive agency is studying ways "to
      Bloomberg  -  182 words
    • Article
      Lock icon Russian meltdown shaves US$117b off equities
      387 10 Bloomberg, Reuters [NEW YORK] Investors have lost more than US$ll7 billion (Ss2oB billion) on Russian securities this year as the country's stock market crashed, its currency tumbled and it defaulted on its rouble debt. The Russian crisis "gets the medal" for the worst emerging
      Bloomberg,; Reuters  -  387 words
    • Article
      Lock icon Drop in US July consumer spending
      336 10 WASHINGTON Reuters CONSUMERS cut their spending in July for the first time in more than two years, the government said yesterday, as the strike at General Motors Corp slowed growth in wages and salaries. The work stoppage at the country's No 1 carmaker also
      Reuters  -  336 words
    • Article
      Lock icon Pan Am: Libya accepts trial in Netherlands
      215 10 UNITED NATIONS AFP LIBYA on Thursday formally accepted British and US proposals for the trial of two Libyan suspects in the Netherlands by Scottish judges acting under Scottish law. However, Libyan Ambassador Abuzed Dorda, speaking before the adoption of a resolution by the
      AFP  -  215 words
    • Article
      Lock icon Russia may take over banks, industry
      612 10 Moscow Pressure mounts for Yeltsin to yield on economic policies Reuters RUSSIA could take over banks and key industries, place restrictions on foreign currency transactions, and print more roubles as the parliament pressures President Boris Yeltsin to cede control of economic policies. Russia's foreign
      Reuters  -  612 words
    • Article
      Lock icon US$/mark rate seen as new haven
      292 10 LONDON Reuters WORLD markets may be going wild, but for once the traditional safe haven of the US dollar offers little comfort, analysts said yesterday. The exposure of the world's leading economy to ailing Latin American markets, the possibility of impeachment for US President
      Reuters  -  292 words
    • Article
      Chorus building up seeking Clinton's resignation
      717 10  -  Even supporters argue the US cannot afford a morally weak leader now From Leon Hadar in Washington BONNIE, the powerful hurricane, has been threatening this week residents along America's Atlantic Coast with a destructive assault. At the same time Monicagate, not a furious force
      717 words
Page thumbnail Page 11
  • ISEAS Trends
    • Article, Illustration
      Lock icon Preparing Asean for the 21st century
      2621 11  -  Sukhnmbhand Paribatra explains the rationale behind Thailand's "flexible engagement" initiative Sukhumbhand Paribatra HE M RDr Suk.humbha.nd Paribatra is Deputy Minister of Foreign Affairs of Thailand. The article was extracted from a speech delivered at the official dinner of the Institute of Southeast Asian Studies
      ISEAS  -  2,621 words
    • Article, Illustration
      Lock icon Beijing and the South China Sea: movement or mirage?
      1164 12  -  Mark j Valencia analyses China's responses to territorial disputes since recently announcing its desire to ratify Unclos Mark J Valencia Dr Mark J Valencia is a Senior Fellow at the East-West Center, Hawaii. CHINA observers were pleasantly surprised when Beijing announced
      AFP  -  1,164 words
    • Article, Illustration
      Lock icon Japan: no bases, no alliance
      769 12  -  Strategic imperatives make the American presence in Japan a necessity By: Robyn Lim Professor Robyn Lim is professor of international relations at Hiroshima Shudo University, Japan. PORMER Japanese leader Morihiro Hosokawa is encouraging the delusion that Japan could enjoy the advantages of alliance with the
      AFP  -  769 words
    • Article, Illustration
      Lock icon Far-from-ideal electoral process
      1094 13  -  CAMBODIA Politics based on practical possibilities rather than moral aims were the hallmark of Cambodia's recent polls, says David Chandler David Chandler Dr David Chandler is Emeritus Professor, Monash University and author of numerous books on the history and politics of Cambodia. The Cambodian elections of July
      AFP  -  1,094 words
    • Article
      Politics under the Beringin
      1025 13  -  INDONESIA The recent Golkar elections provide the first indications of the new political cleavages apparent in a Post-Suharto Indonesia By] Leonard C Sebastian Dr Leonard C Sebastian is a Fellow at the Institute of Southeast Asian Studies. ON July 11, President B J Habibie passed his
      1,025 words
    • Article, Illustration
      Lock icon On course for a bourse
      1089 13  -  VIETNAM Moves to open a securities market suggest reforms are back on track By. Nick J Freeman Dr Nick J Freeman is Head of Indochina Research at ING tarings, based in Qpngkok. IT may have been a long time coming, but Vietnam's preparations for a
      Source: ING Barings  -  1,089 words
    • Article, Illustration
      Lock icon Towards a new international humanitarian order?
      1362 14  -  Amyn b Sajoo discusses how support for an International Criminal Court could lay the groundwork for a significant international humanitarian regime Amyn B Sajoo DrAmyn B Sajoo is a former Canada-Asean fellow at ISEAS, and presently an independent scholar and consultant in Vancouver. WHEN
      REUTERS  -  1,362 words
    • Article
      E-commerce in S-E Asia: opportunities and barriers
      911 14  -  E-commerce has the potential to enhance business interactions in South-east Asia By\ Lloyd C Onyirimba Lloyd C Onyirimba is a PhD student with the Department of Geography, National University of Singapore. It has been estimated that between US$5OO million and US$l billion is
      911 words
    • Article
      Clinton's new policy of engagement with China
      790 14  -  Despite the success of President Clinton's visit to China, domestic opinion in the US remains divided By' William Bodde Jr Ambassador William Bodde Jr (retired) was the first Executive Director ofApec and is a Special Adviser to Pacific Basin Economic Council (US). PRESIDENT
      790 words
  • Page 11 Advertisements
    • Advertisement
      Page 11 Advertisements Column 1
      175 11 TRENDS concludes with this issue. Since its inauguration on Sept 27,1990, the aim of the Institute of Southeast Asian Studies (ISEAS) via the publication of Trends was to develop a greater awareness in Singapore of political, economic and socio-cultural developments in South-east Asia and the wider Asia-Pacific arena through informative
      175 words
    • Advertisement
      Page 11 Advertisements Column 2
      268 11 PH.D SCHOLARSHIPS IN ECONOMICS Applications are invited for the following areas of studies: International Economics (Trade and Finance), Macroeconomics. The scholarships are open to Singapore citizens and permanent residents who possess a good Masters degree (or equivalent) in Economics, have a consistently good academic record and have an interest in
      268 words
Page thumbnail Page 12
  • Page 12 Advertisements
    • Advertisement
      Page 12 Advertisements Column 1
      373 12 Send all correspondence toe TTie Editor Trends Institute of Southeast Asian Studies 30 Heng Mui Keng Terrace Pasir Panjang Singapore *****4 Tel: 778-0955 Fax: 775-6264 Hie Institute Hie Institute of Southeast Asian Studies was established as an autonomous organisation in 1968. It is a regional research centre for scholars and
      373 words
Page thumbnail Page 13
Page thumbnail Page 14
  • Page 14 Advertisements
    • Advertisement
      Page 14 Advertisements Column 1
      229 14 RESEARCH APPOINTMENTS Applications are invited from suitably qualified Southeast Asians for the posts of Economists: Macroeconomics and International Economics Sociologist Qualifications: Ph.D degree in economics in areas indicated Ph.D degree in sociology Research focus and experience on Southeast Asia and East Asia Remuneration per month: Salary Scales: Fellow: 554,750x250-5,750/6,000x250 6,750
      229 words
Page thumbnail Page 15
  • COMPANIES & MARKETS
    • Article
      CityDev earnings down 53% to $109m at half-time
      483 15  -  Higher interest cost, $75m provisions, slow market drag on profits By\ Lee Han Shih [SINGAPORE] City Developments yesterday announced a 53 per cent fall in interim earnings to $109.3 million, a figure that falls far short of market expectations. For the six
      483 words
    • Article
      Transmarco shares plunge $4 in panic selling
      251 15  -  By" Conrad Raj [SINGAPORE] Transmarco shares, which were last traded on May 22, took a beating on the stock market yesterday, plunging to an all-time low of 80 cents before closing for the day $4.19 cheaper at $1.91. Some 317,000 shares changed hands
      251 words
    • Article
      L&M cutting stake in M'sian associate
      261 15 [SINGAPORE] L&M Group Investments is cutting its stake in associated company L&M Corporation (M) Bhd (LMCM), which is listed on the Second Board in Kuala Lumpur. The company said yesterday that wholly-owned L&M Holdings Sdn Bhd has signed a deal to sell to Fortune
      261 words
    • Article, Illustration
      Lock icon Investment income holds up Robinson's bottom line
      418 15  -  Profit up 0.1%; forex gain surges five-fold to $4.4 m By, Jenny Lam [SINGAPORE] For the first time in recent years, investment income has overtaken retail operations as the major contributor to Robinson Company's bottom line. The mainboard-listed retailer yesterday reported a 0.1
      FILE PHOTO  -  418 words
    • Article
      Intraco posts $11.5m loss on cars, insurance
      255 15  -  By Soh Tiang Keng [SINGAPORE] Losses in the car and insurance businesses pushed Intraco into the red for the six months ended June 30. Intraco reported yesterday an interim net group loss of $11.5 million compared to a profit of $2.24 million in
      255 words
    • Article
      Aussies may prefer Telstra remaining in govt hands
      741 15  -  HOCK LOCK SIEW Russell Baker WHEN the Australian government offered one-third of Telstra for sale late last year about 1.8 million Australians eagerly put their hands up for shares. Those that are still hanging on to their shares are looking at an
      741 words
    • Article, Illustration
      Lock icon SingTel in talks with telcos on new alliances
      661 15  -  Potential partners include AT&T, British Telecoms From 1 Teh Hooi Ling in Kcrurou, French Guiana WITH the impending demise of World Partners. Singapore Telecom said yesterday it has begun talks with international and regional telecommunications companies (telcos) to strike up new partnerships
      FILE PHOTO  -  661 words
    • REGIONAL COMPANIES
      • Article
        Lock icon MUI's Pan Malaysia Cement to sell stakes worth RM1.2b
        397 16 Deal with Malayan Cement part of move to enhance group's cash position AFX-Asia, Bloomberg [KUALA LUMPUR] Malayan United Industries Bhd (MUI) said its unit Pan Malaysia Cement Works Bhd is to sell its entire 50 per cent stake in Associated Pan
        AFX-Asia,; Bloomberg  -  397 words
      • Article
        Lock icon Camerlin denies plans to gain control of Brierley
        442 16 But it says the time has come for a change in leadership Bloomberg [KUALA LUMPUR] Malaysia's Camerlin Group Bhd, which owns 20 per cent of Brierley Investments Ltd, denied it plans to take control of the diversified company in a bid to
        Bloomberg  -  442 words
      • Article, Illustration
        Lock icon Shiseido comes to Vietnam
        64 16 [HANOI] A worker cleaning the window of the newly-opened Shiseido cosmetics boutique at Hanoi Tower Complex in the centre of Hanoi yesterday. This is thefirst boutique of Japan's giant cosmetics maker in Vietnam, a promising 7&million population market for cosmetics makers. Vietnamese women, especially those living
        AFP  -  64 words
      • Article
        Lock icon KUB consolidating and downsizing
        239 16 Bernama [KUALA LUMPUR] KUB Malaysia Bhd is consolidating its companies to merge some businesses into more manageable units, its chairman and chief executive officer Hassan Harun said yesterday. He said KUB, a diversified company, is also downsizing to the "right size as we don't want to
        Bernama  -  239 words
      • Article
        Lock icon HK's Regent Pacific suspends dealing in 12 Russia, E Europe,C Asia funds
        384 16 Bloomberg [HONGKONG] Regent Pacific Group Ltd, a Hongkong-based manager of emerging market and hedge funds, said it suspended dealing in 12 funds that invest in Russia, Eastern Europe and Central Asia. Investors in those funds cannot redeem their
        Bloomberg  -  384 words
      • Article
        Lock icon Profits plunge at major Indon groups at half-time
        375 16 Semen Gresik backs trend with 66% rise in earnings Bloomberg (JAKARTA) Indonesia's slide into recession, the collapsed rupiah and higher interest rates strangled earnings and sent many companies into the red at half-time. PT Indocement Tunggal Prakarsa, one of Indonesia's big three
        Bloomberg  -  375 words
      • Article
        Thai Farmers Bank plans US$4b issue abroad
        514 16  -  Analysts wonder whether target was too ambitions From Harish Mehta in Bangkok THAILAND'S second-largest bank, Thai Farmers Bank (TFB), approved plans that would allow it to raise as much as US$4 billion (SS7.I billion) abroad by issuing debentures and securities to finance business
        514 words
      • COMPANY Briefs
        • Article
          Seksun interim net rises 6.6%
          60 16 [SINGAPORE] Seksun Precision Engineering has reported a 6.6 per cent rise in net earnings to $2.35 million for the half-year ended June. Turnover soared 24 per cent to $34.4 million. The directors said the group performed well despite the regional economic difficulties and they expect
          60 words
        • Article
          Sin Soon Huat earnings plunge 87%
          71 16 {SINGAPORE] Industrial hardware maker Sin Soon Huat yesterday posted an 87 per cent plunge in net earnings to $1.5 million for the year ended May. Turnover fell 19 pa* cent to $94.9 million. The company said the drop in profit was due to the
          71 words
      • Article
        Lock icon Toyota to take Daihatsu majority stake for 37b yen
        390 16 Bloomberg [TOKYO] Toyota Motor Corp, Japan's largest automaker, said it will pay 37.1 billion yen (*****.7 million) to boost its stake in affiliate Daihatsu Motor Co, Japan's second largest producer of mini-vehi-cles, to a majority. The move is the latest in
        Bloomberg  -  390 words
    • REGIONAL/INTERNATIONAL COMPANIES
      • Article
        Lock icon Travelers completes 25% Nikko purchase
        301 17 Japan's No 3 broker moves institutional business to Salomon joint venture Bloomberg [TOKYO] Travelers Group has completed its purchase of a 25 per cent stake in Nikko Securities Co, Japan's thirdlargest broker, the two companies said yesterday. Travelers' 217.3 billion yen (552.7 billion) purchase is
        Bloomberg  -  301 words
      • Article
        Lock icon Oracle offering leased computing power on the Net
        256 17 FT [SAN FRANCISCO] Oracle, the world's second largest software company, plans to allow small businesses to rent computing power and software over the Internet. Instead of buying their own computers and software, smaller businesses will be able to lease space on powerful
        FT  -  256 words
      • Article
        Lock icon Foster's sees no pickup for China beer prices
        325 17 Reuters [BEIJING] China's beer market is flush with overcapacity and more breweries are coming on line, a situation likely to depress local prices for a long time, a Foster's Brewing Group official said yesterday. The glut has forced Australia's largest brewer to
        Reuters  -  325 words
      • Article
        Lock icon Carrefour files US$24m fraud complaint in Seoul
        302 17 French retailer accuses 15 of illegal land deals AFP [SEOUL] French retailer Carrefour filed a complaint with South Korean prosecutors yesterday claiming it fell victim to an international fraud conspiracy which cost it US$24 million (5542.6 million), the company said. The firm's local
        AFP  -  302 words
      • Article
        Lock icon Top Indian carmaker's exports dive
        202 17 AFP [NEW DELHI] India's dominant carmaker, Maruti Udyog Ltd, suffered a dramatic 25 per cent plunge in car exports for-the first quarter of fiscal 1998, industry figures released yesterday revealed. According to the Association of Indian Automobile Manufacturers (AIAM), Maruti exported 5,290 cars in the
        AFP  -  202 words
      • Article, Illustration
        Lock icon Trying to strike a deal
        71 17 [MINNEAPOLIS] Northwest Airlines passenger jets taking off and landing at Minneapolis-St Paul International Airport on Thursday, despite a potential strike by Northwest pilots which has caused the airline to cancel 400 flights. Northwest and the union representing about 6,2000f its pilots continued talks aimed at
        REUTERS  -  71 words
      • Article
        Lock icon Acer trims '98 profit forecast by 36%
        381 17 It posts 17% rise in lst-half net and sees a better 2nd-half Reuters [TAIPEI] PC powerhouse Acer Inc followed dozens of fellow Taiwan firms yesterday in trimming its 1998 profit forecast but cited hopeful signs that the worst of a difficult year was
        Reuters  -  381 words
      • Article
        Lock icon 3M to close plants, axe 4,500 jobs, take US$500m charge
        368 17 Cost-cntting to offset effects of Asian crisis, US weakness FT [MINNEAPOLIS] 3M, the US manufacturing conglomerate group, has announced a costcutting programme dropping products, closing plants, and shedding about 4,500 jobs by the end of next year that will result
        FT  -  368 words
      • Article
        Lock icon Coca-Cola shares plunge on currency woes
        311 17 Bloomberg [ATLANTA] Coca-Cola Co shares fell 5.6 per cent on Thursday on concern that currency and economic woes in Asia and Russia might spread to its key Latin American markets, hurting profits at the world's largest soda maker. Coca-Cola fell 4-7/16 to 743/4 in
        Bloomberg  -  311 words
      • Article
        ACU DEPOSIT RATES Offered by various banks (as at Aug 27, 1998)
        689 17 PiX"" «wowrt l-wth 3-wWi t-nrtti Igijl mm* lit* 3-ot» t-t* Bank of China SwFr At $10,000 Swf99,999 1.0400 ***** ***** A SwOOO.OOO Swfl49,999 1.1400 1.1700 ***** 10,000-49,999 4.5000 4.5000 4.6250 lice 50.000 i Above 4.8125 4.8125 4.9375 US5
        689 words
    • FINANCE & COMMODITIES
      • Article
        Lock icon Russian fears hit shares of US banks, brokerages
        438 18 Citicorp, Merrill Lynch lead price drop with the latter falling np to 9% Bloomberg [NEW YORK] Shares of US banks and brokerages, led by Merrill Lynch Co and Citicorp, fell on Thursday on concern that Russia's debt crisis would slash profits. Merrill
        Bloomberg  -  438 words
      • Article
        Lock icon AMP arranging £1.6b loan for takeovers
        314 18 Firm bids As3b for 610; may also sell up to USs4b Eurobonds Bloomberg [SYDNEY] AMP Ltd, Australia's biggest life insurer and money manager, has arranged a £1.6 billion (554.7 billion) bank loan to help pay for its takeover of GIO Australia Holdings Ltd and
        Bloomberg  -  314 words
      • Article
        HK funds magazine in S'pore tie-up
        217 18 [SINGAPORE] Hongkongbased Benchmark, a leading regional mutual funds magazine, has entered into a joint venture with local personal finance magazine Financial Planner. The alliance will be effective from Financial Planner's October issue and will see a quarterly unit trust supplement written by Benchmark and
        217 words
      • Article, Illustration
        Greenback to correct after fall?
        439 18 USS/mark: Against the German mark, trading for the US dollar was rather muted compared to US$/SFr and US$/yen. The unit saw gains to 1.8135 initially, before selling returned to bring it down to 1.7925 on Thursday evening. Thereafter, it recovered to trade around the 1.7990
        439 words
      • Article
        Lock icon Fuji Bank ratings cut by Moody's
        281 18 Bloomberg [TOKYO] Fuji Bank Ltd, Japan's sixth-largest commercial bank, yesterday had its ratings cut by Moody's Investors Service, which cited concern about the bank's profitability amid the economic turmoil in Japan and Asia. Fuji Bank's long-term deposit rating was cut to Baal from A3,
        Bloomberg  -  281 words
      • Article
        Lock icon JGBs hit new high as Nikkei sinks further
        220 18 ■Simnil Report Reuters [SINGAPORE] Simex Japanese government bond (JGB) futures set a new record high yesterday as investors bailed out of the sinking Nikkei after Wall Street's overnight tumble. Dealers said Russia's rapidly deteriorating financial crisis and falls in major stock markets
        Reuters  -  220 words
      • Article
        Futures fall on the back of huge Dow loss
        190 18  -  MSCI TAIWAN FUTURES Cecilia Loh Cecilia Loh, service dealer, Refco Singapore THE Simex MSCI Taiwan Stock Index futures gapped down in the opening behind a huge loss in the Dow, which slipped 357.36 points. Early losses were erased slightly in late
        190 words
      • Article
        Lock icon Prices little changed as Tosco cuts output
        287 18 ENERGY REPORT Bloomberg [NEW YORK] Crude and gasoline were little changed as concern that Russia could increase oil exports to raise cash was offset by output cuts at some Tosco Corp refineries in the US. Tosco, the largest US independent refiner, said it
        Bloomberg  -  287 words
      • Article
        Lock icon CURRENCY REPORT
        287 18 AFP London THE dollar nosedived against the mark yesterday afternoon on the London forex market, an indirect victim of a sharp yen drop against the mark because of a new worsening of the situation in Japan. The dollar was down in late afternoon to a mere 1.7716 marks
        AFP  -  287 words
      • Article, Illustration
        Untitled
        1249 18 mTERBAMK CROSS RATES Aug2i A$ C5 tnrt ECU Ffr D> Wtf Mh Bapta* Yon Won Wl Pwo S$ Burt Sfr WT$ MK Hmt gg AntraMa 0.884 6.178 0.507 1356 1001 4.324 ***** 61.045 0.799 7.446 2.357 1.148 30.*****.706 0.993 3.716 0.825 19.432 ***** 0337 0358 Canada 1132 5.243 0.574 1799
        1,249 words
    • Article
      COMMODITY PRICES
      1819 19 81C0M FUTURES Aug 28 RUMIR (Mm dosing k it 5 30pa» RSS1 CONTRACT (S cwtsAfl) Clow Votanw Open Month m» low Sott (tonnes) Interest Sep98 05.50 300 Oct 98 115.75 1315 Nov 98 "6.25 *75 Doc 98 117.00 »50 Jan/Mar 99 120.00 »50 Apr/Jim 99 124.25 1950 3S?99
      1,819 words
    • Article
      WORLD STOCK MARKETS
      2216 19 LONDON Industrials »Hi> NKI 31 Group 500.000 26.000 AB Port j 260.000 -16.400 Abbay Nation*) 1120.000 11.000 Ailiad Domacq 510.000 -12.000 Amac 138.000 -1.000 Asda Group 170.000 unch BAT Ind 587.000 -11.000 BGPIe 370.000 1.600 BICC 87.000 -9.200 BOC Group 808.000 9.000 BR Patrolaum 750.000 -25.000 BTR
      2,216 words
    • Article
      Lock icon TOKYO
      1630 19 Bloomberg □Nikkei 225 -498J6 JAPAN'S benchmark stock index plunged to its lowest in more than a dozen years breaking through the 14,000 mark after Wall Street and European bourses tumbled amid a financial crisis in Russia. Sony Corp and Toyota Motor Corp, two of Japan's flagship companies, paced an
      Bloomberg  -  1,630 words
    • Article, Illustration
      Lock icon HONGKONG
      1482 20 Reuters d Hang Seng -9123 HONGKONG'S Hang Seng Index closed sharply lower yesterday, despite a massive buying programme by the government that pushed turnover to record levels. The Hang Seng Index closed down 93.23 points, or 1.18 per cent, at 7,829.74, having been held within a narrow trading range
      Reuters  -  1,482 words
    • Article, Illustration
      Lock icon CHINA
      637 20 Reuters Q Shenzhen B Index -L 75 SHENZHEN'S hard currency B shares fell sharply yesterday as Hongkong stocks lost ground despite heavy intervention by the territory's government in the market, analysts said. The Shenzhen B Share Index fell 1.75 points, or 3.11 per cent, to 54.49 on turnover of
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  637 words
    • Article
      Lock icon TAIPEI
      350 20 AFP □wp Index -ats3 TAIWAN'S stock market slumped 1.3 per cent yesterday, depressed by sharp falls on international markets hit by Russia's deepening financial crisis, dealers said. The Taiwan Stock Exchange Weighted Price Index dropped 89.53 points to 6,723.77 after ending barely lower the previous day. "Falls in the
      AFP  -  350 words
    • Article, Illustration
      Lock icon JAKARTA
      746 20 AFP Q Composite Index -15J3 INDONESIAN shares yesterday closed 4.5 per cent lower with the index hitting a fiveyear low amid hefty falls in regional markets and the absence of positive local leads, dealers said. "The falls stem from regional sentiment, that's all," a dealer with a local brokerage
      AFP  -  746 words
    • Article, Illustration
      Lock icon BANGKOK
      763 20 AFP n SET Index -8.0 THAI share prices dipped 3.5 per cent yesterday in thin trade amid ongoing concerns over volatile regional currencies and weakness in Asian economies, analysts said. "There are regional worries. But the bigger overriding issues are what is going to happen in Japan and China,"
      AFP  -  763 words
    • Article
      Lock icon MANILA
      306 20 AFP Q Manila -7128 PHILIPPINE share prices yesterday plunged 5.7 per cent to their lowest level in more than six years amid fears of a looming recession at home. The Philippine Stock Exchange Composite Index lost 72.28 points to 1,194.71, its lowest level in six years and four months.
      AFP  -  306 words
    • Article
      Lock icon SEOUL
      413 20 AFP C 3 Composite Index -4J SOUTH Korean share prices closed yesterday 1.5 per cent lower amid fears over the spillover of Russia's deepening financial crisis into the global markets, dealers said. They said the market opened sharply lower following selldowns overnight in world markets, before closing off its
      AFP  -  413 words
    • Article
      Lock icon SYDNEY
      593 20 AFP |3 All Ordinaries -43.7 AUSTRALIAN share prices fell 1.7 per cent yesterday, with a slight rally in the Australian dollar helping the local bourse pare steep early losses, brokers said. The All Ordinaries Index finished 43.7 points down at 2,516.9. Turnover totalled 458.58 million shares worth A 52.05
      AFP  -  593 words
    • Article
      Lock icon WELLINGTON
      257 20 AFP n Wellington -63J NEW Zealand stocks dived 3.3 per cent yesterday to a fiveyear low, taking the lead from crumbling global markets hit by the Russian economic meltdown. The NZSE-40 Capital Index was down 63.1 points at 1,847.73. Turnover was 46.7 million shares worth NZ$59.l million.—AFP m i»
      AFP  -  257 words
    • KUALA LUMPUR STOCK MARKET
      • Article
        Untitled
        8089 21 INDUSTRIALS twa 'TiilT* D«V Net Cm H» L— Cempany Sate '000 W» Lew Ptt $»> 310 170 Ajinomoto MS '0-2 7 $-0 148 35.5 Anqkasa 41 1 77 41 39.5 0.9 60.5 290 123 Apollo Food Hlq 131 unch 1 131 131 4.6 52.4 388 108 Ber,aya Land 150 unch
        8,089 words
      • Article, Illustration
        Lock icon KL slumps 3.4% on domestic concerns
        406 21 AFP Cil Composite Index -10.6 MALAYSIA'S key stock index slumped 3.4 per cent yesterday in modest trade due to concerns over the domestic economy coupled with jitters over the weakness of world markets. "Locals emerged as net sellers. Sentiment was weighed down by the
        AFP  -  406 words
    • WARRANTS & OPTIONS
      • Article
        Untitled
        3320 22 BONDS, LOANS 1 WARRANTS m ltd Last VM Day Quota A»« Law Stno Company SM ♦ac- COOP) Htfft Low Buyaf tallar Prle 23.5 8 m 3000 m AMDS c5,5******6 10.5 7.5 >® 20.5 3 3160 *Acar ******1 US$ 3.5- 2.5 4.5 95 5.5 3164 Ac ma ******4 5.5 -1 36
        3,320 words
      • Article
        HLI wrt: low liquidity a problem
        179 22  -  WARRANT WATCH -By R Sivanithy ONE of the few warrants to actually rise yesterday, albeit modestly, was that of Malaysia's Hong Leong Industries. This is yet another blue chip that has been hammered to penny-stock levels, so perhaps a look at the warrant's numbers
        179 words
    • Article
      CLOB INTERNATIONAL
      2308 22 Transaction date Aug 28 MALAYSIA* STOCKS Of Qr 199 Vol toy L»«1 Ouetl CHv Otv VM N«« M Cap High «L— Stna Cmpiwy Ml COOP) Ml» Law Buyar Sa«ar Cw W 135 28 mi 5000 AISBSOc 50.5 unch ma 52.5 47J 50 50.5 5.0 3J 2.1 210 5t8
      2,308 words
    • Article
      STOCK EXCHANGE OF SINGAPORE: MAIN BOARD
      6359 23 Transaction date: Aufi 28 j Or Or M Vft 1998 Last Vol Day Last Ouote Wv Olv Vtd N«t Cap Avg HH* tow StNo Company Salt COOOI HUh Law Bwyf M* P/K Mw INDUSTRIALS 43 11.5 a 1020 ACE Dynamic s20c... 12 unch 22
      6,359 words
    • Article
      SESDAQ
      1232 23 Mtah ,99S L»w StNo {.muni. P Y Lb«t Q««U M« VM MM Cw A™ =f lm »!!L rooo) hi* lm> auyw mk Cw p/i mM prtc. 134 50 2000 A8RHk*sSc 74.5 .X52 743 743 31 75 I I I 1 3«~i 7 2 82 43 5 T ?gf. 9
      1,232 words
    • STOCK EXCHANGE OF SINGAPORE
      • Article
        Untitled
        214 24 ST Engg 10c 17,632,000 SingTel 15c 15,312,000 •M Resources 12,334.000 •North Borneo 9,494,000 IPC Corpn 5c 7,152,000 DBS Land 5,770,000 OCBC Foreign 5,299,000 •MBf Capital 4,619,000 *TanChonglntl50 4,560,000 TAC BtTO 200 4,217,000 Stocks SingTel 15c 41,988,281 SPH 32,821,900 ST Engg 10c 26,647,088 OCBC Foreign 25,968,016 SIA Foreign 24,102,938 UOB Foreign
        214 words
      • Article, Illustration
        HOT STOCK
        62 24  -  -by Shiv Taneja LUM CHANG HOLDINGS closed three cents lower yesterday at 18.5 cents on a volume of 2.14 million shares, compared with its 10-day traded average of 569,500 shares. The counter is oversold, according to the daily and weekly RSI and Stochastics However, the medium-term outlook continues
        62 words
      • Article, Illustration
        STII loses grip on 900 level in its last trading session
        674 24  -  STOCK MARKET COMMENTARY Mounting fears of global equities meltdown as Wall Street and Tokyo stocks plnnge f>y R Sivanithy [SINGAPORE] The Straits Times Industrials Index yesterday spent its final trading session struggling to hold on to the 900 level
        674 words
      • ON THE GRAPEVINE
        • Article
          Factories going for a song
          110 24 A TRADER said business has never been so good as now, but her suppliers are beginning to run into trouble. She buys her merchandise mainly foodstuff including instant noodles, beer, soft drink and candy from the regional countries and sells them to Vietnam, Hongkong and
          110 words
        • Article
          Top billing
          116 24 SUCH was the interest from fund managers in the new classification system for CPF-approved unit trusts that last week the CPF Board was moved to note in its invitation for a briefing on Thursday that a maximum of two people per institution could attend. From the looks of
          116 words
        • Article
          Preximity matters more than cost
          125 24 ONE would have thought that the ringgit's steep fall against the greenback would have been enough incentive to draw new investments. But that may not always be the case, particularly if your clients have moved elsewhere. One factory manager with an electronics component-making plant in
          125 words
        • Article
          Black Russian humour
          83 24 IT'S not funny of course, but Russia's crisis has spawned jokes among Russians. Here are a couple which are making their way round the Internet. One Russian banker phones another and says: "Hi, how is everything? All right. Sorry, wrong number." And here's another on how yesterday's
          83 words
        • Article
          Seeing is believing
          96 24 IF you're one of those fond of checking out the latest residential property developments now begging for a visit with their lucky draws and "give me a price and see how low I can go", don't be surprised the showflat is on the 22nd floor even though
          96 words
        • Article
          Retroactive pay cuts
          75 24 WITH the economy heading for a recession, it seems that pay cuts are getting all too common these days. But while most companies give prior warning of pay cuts months ahead, some are apparently making retroactive cuts. Some employees at listed IT school Informatics were apparently miffed
          75 words
  • Page 15 Advertisements
Page thumbnail Page 16
  • Page 16 Advertisements
Page thumbnail Page 17
Page thumbnail Page 18
Page thumbnail Page 19
Page thumbnail Page 20
Page thumbnail Page 21
Page thumbnail Page 22
  • Page 22 Advertisements
    • Advertisement
      Page 22 Advertisements Column 1
      120 22 Need cash for any worthwhile purpose? At Hong Leong Finance and Singapore Finance, we give you cash for your shares. This is all you have to do: So, why keep your shares tucked away? e# u u r Use it for a million purposes. Stop by any Hong Leong Finance
      120 words
Page thumbnail Page 23
  • Page 23 Advertisements
Page thumbnail Page 24
  • Page 24 Advertisements
    • Advertisement
      Page 24 Advertisements Column 1
      542 24 BUSINESS Notices TO ADVERTISE CALL TOLL-FREE 1800-741 1883 90 \Jm M aH It's even more affordable now! We offer excellent office/industrial space at a very affordable rate. Available from 2,000 sq ft onwaxds.Come and discuss an attractive rental package to suit your needs. For viewing arrangements, please contact Dennis at
      542 words
    • Advertisement
      Page 24 Advertisements Column 2
      27 24 FREE! If you have found something, you can advertise for free in Classification 821 (Found) to seek its owner. Call C.A.T.S. at 1800-737-1166. CATS. Another Classified Service
      27 words
    • Advertisement
      Page 24 Advertisements Column 3
      517 24 HARIMAU INVESTMENTS LIMITED (Incorporated in the Republic of Singapore) ANNOUNCEMENT The Board of Directors of Harimau Investments Limited wishes to make the following announcement: 1. UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 1998 GROUP COMPANY Six Months Ended Incr/ Six Months Ended Incr/ 30.06.98 30.06.97 (Deer) 30.06.98 30.06.97
      517 words
    • Advertisement
      Page 24 Advertisements Column 4
      78 24 and we'll help you enhance your company profile Corporate celebrations are opportunities to have a total communication approach in enhancing your company profile to your business associates and customers. It may be a grand opening, launching ceremony, company anniversary, ISO certification, ground-breaking ceremony or a toppingout ceremony. It's another chance
      78 words
Page thumbnail Page 25
  • EXECUTIVE Lifestyle
    • Article, Illustration
      Looking for love in ail uncertain economy
      1182 25  -  How is the current financial crisis affecting the matchmaking business? Are men and women still interested in dating when their jobs are on the line? JAnm be finds out JAIME EE WHEN the economy's woes start nipping at your ankles, love may provide
      1,182 words
    • STRAWS In The Wind
      • Article
        A is for atrocious
        67 25 EATING out can be hazardous, hygiene ratings notwithstanding. Recently, a block of ice was delivered to a hawker centre fruit stall with an "A" rating. The delivery man was seen casually stooping on the wet and mucky floor to pick up his metal tool, with which
        67 words
      • Article
        One up on Bill Gates
        103 25 WE'VE all read about Microsoft chief Bill Gates' high-tech home near Seattle, built with all kinds of technological gizmos. In this US$6O-million intelligent mansion, the owner or guest wears an electronic badge pre-pro-grammed to the wearer's liking so that the house automatically tailors its temperature,
        103 words
      • Article
        Crumbs!
        37 25 PROPERTY ads are becoming more fanciful these days in a bid to engage buyers. One ad went like this: "If you want to see something different from today's cookie cutter design, then come to our showhouse..."
        37 words
      • Article
        A perfect fit
        26 25 AN AUSTRALIAN sprinter may be withdrawing from the Commonwealth Games team because of a knee injury. The name of her replacement? Nova Peris-Kneebone.
        26 words
    • VIEWPOINT
      • Article
        Cybershopping your way to a very long wait
        720 26  -  Off the CUff by Do you have time to kill? And lots of patience? Then check ont the virtual shopping mall on the Net, where merchandise is hard to locate and takes forever to be delivered anyway by Jaime Ee SCENE: Somewhere
        720 words
      • Article, Illustration
        The rise and fall of a high finance connoisseur
        1594 26  -  Friends in Bangkok and Bombay speak of him with admiration, and he is considered a legend among the young business reporters at the Bangkok Post But Rakesh Saxena is also the man blamed for sparking off last year's Thai financial crisis
        1,594 words
      • Article
        In dogged pursuit of Thailand's most wanted
        398 26 THE FATE of the most wanted man in Thailand may be decided in a Canadian court on Sep 21. The British Columbia Supreme Court will hear a case to extradite Rakesh Saxena to Thailand where he faces as many as 26 different court
        398 words
    • MOTORING
      • Article, Illustration
        Lock icon Sheer luxury beneath the bonnet
        2463 27  -  When it comes to engines, no other configuration quite matches up to the VB. Christopher tam compares four of the best VB-powered models in town CHRISTOPHER TAN UNLIKE the canned vegetable drink by the same name, a V 8 or vertically-angled eight-cylinder engine possesses an
        PHOTOS BY CHRIS LOH  -  2,463 words
    • Article, Illustration
      Lock icon All bluster and no bite
      626 28  -  CINEMA Blade sucks. That's the verdict on a vampire movie that's so anaemic it deserves a stake through the heart Ry< Chris Garcia NYT BLADE touts itself as a different kind of vampire movie, and in a few small ways it is. Its leading man
      NYT  -  626 words
    • Article, Illustration
      From Zorro to zero
      635 28  -  CINEMA That, alas, is what happens when mediocre scripwriters get together and panache is undermined by buffoonery in The Mask Of Zorro By\ Susan Tsang IE WAS a hero in several previous movies and his adventures were made into a television series, but it's a short
      635 words
    • Article
      Lock icon More nastiness from the actor movie audiences love to hate
      836 29  -  PROFILE Aaron Eckhart, who was so memorably sadistic in his last movie outing, In The Company Of Men, takes on another MCP role in Your Friends L Neighbors By Hap Erstein NYT FOR THE past year, actor Aaron Eckhart has
      NYT  -  836 words
    • Article, Illustration
      WHAT'S ON
      404 29  -  Compiled by M Yasotha C0MCERT8 Singapore Symphony Orchestra Join conductor Bart Folse and the SSO for an evening of symphonies. On the programme are Schubert's Unfinished, Tchaikovsky's Pathetique and the world premiere of three movements from Heinrich Schweizer's Singaporean'Symphony. Sep 4 5. 8.15pm at Victoria Concert Hall. Tickets:
      404 words
    • EPICURE
      • Article, Illustration
        Back to the classics
        721 30  -  Getting a little fed-up with fusion? Then head for L'Aigle d'Or where, like taw su yek, you can return to the Gallic flavours of foie gras, truffles and goat cheese TAN SU YEN AT a time when fusion fever is spreading faster than hand, foot and
        721 words
      • Article, Illustration
        Lock icon Cosmopolitan cuisine with a dash of drama
        523 30  -  RESTAURANT You'll find Emperor chairs, a sinister grey dragon and, oddly enough, great pastas in the Forbidden City By' Tan Su Yen BEIJING'S Forbidden City was originally purple, not red, says Joyce Lim, artiste and owner of newly-opened restaurant Forbidden City in East
        PHOTOS BY ARTHUR LEE  -  523 words
      • Article, Illustration
        Lock icon A ready-made market for Chateau Asia
        761 30  -  WINE China, Japan and Taiwan are growing European-style grapes to cash in on Asia's growing demand for wine By Sharon Singleton AFP ASIA'S growing thirst for wine has sparked a small but growing industry in the region as local producers try their hand at
        AFP; FILE PHOTO  -  761 words
      • Article, Illustration
        Get ready for the battle of the loaves
        241 30 CRAVINGS MOVE OVER Gardenia. Bonjour, a new range of 10 breads, hits the supermarket shelves this week. Boustead Singapore, Bonjour's makers, says five of its specialty loaves are being introduced to the Singapore market for the first time. They are apple, apricot,
        241 words
      • Article
        Sunny side down
        107 30 NOSTALGIC about kopitiam-style half-boiled eggs with coffee? Think twice before you dip your coffee-shop toast into that barely-cooked but inviting egg yolk. A recent report in The Economist says eating eggs in a less than hard-boiled state may make you ill, or worse, kill you. Studies in
        107 words
      • Article, Illustration
        Coffee Club feast
        268 30 COFFEE CLUB, the gourmet coffee outlet that set off the coffee craze here in 1991, has come of age. The group, headed by Singapore's coffee king Ong Siong Kai of Hiang Kie Pte Ltd, recently unveiled a new and augmented menu at its Ngee Ann City outlet.
        268 words
    • Article, Illustration
      CINEMA
      738 31 Armageddon.An oil driller (Bruce Willis) is mankind's best hope against an asteroid on collision course with earth. Lido, Changi, Republic, Jurong, Choa Chu Kang, Century, Hougang, Orchard,Eastpoint, Riverside, Empress, Jubilee, Whitesands, Toa Payoh, Bugis, Beach Road, Yishun, Bishan, Tiong Bahru, Boon Lay, Tampines, Marina. The Avengers. Ralph Fiennes and
      738 words
    • Article
      ENQUIRIES AND BOOKINGS
      118 31 Cathay Org Cathay 338-3400 Eastshore 346-1816 Orcterd *****86 Picturehouse 338-3400 Yangtze 223-7529 Eng Wah Empress 777-5867 Jubliee 454-1640 Mandarin 292-9401 Marina 338-9719 WhitesandssBs-T7fi2 Qoklan Villaga Bedok 443-2405 toston 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 Yishun
      118 words
    • TRAVEL
      • Article, Illustration
        Lock icon Gateway to Rajasthan
        936 32  -  That's what Jaipur, city of pink palaces, is expected to be once it gets better roads and an international airport harisbmhbta looks at what the authorities are doing to turn this rosy dream into reality HARISH MEHTA The only obstacles standing in the way of turning the
        PHOTOS BY HARISH MEHTA  -  936 words
      • Article, Illustration
        A warm welcome at the Sheraton
        378 32 DANCING midgets wearing bright yellow tunics and outsized turbans dance in the courtyard like so many Pucks in an Indian midsummer's night dream. Rajasthan is full of stories, legends and fortunes waiting to be told. It's all happening at the poolside of the russet
        378 words
  • Page 25 Advertisements
Page thumbnail Page 26
  • Page 26 Advertisements
    • Advertisement
      Page 26 Advertisements Column 1
      68 26 CASH V I N U M &PI NE WIN! MBRCHANTS SINOAPORE Over 60 wines to clear at greatly A T|llY7 reduced prices! Prices start from tAnKI $25 per bottle. Join us for a free tasting of k selected wines on offer at L,€S Amis 1 1 I l.i on Sunday,
      68 words
Page thumbnail Page 27
Page thumbnail Page 28
  • Page 28 Advertisements
    • Advertisement
      Page 28 Advertisements Column 1
      44 28 I Such a market -for choice jobs,! Any job. any career. Available any day. Any time. Anywhere. THE STRAITS TIMES THE SUNDAY TIMES BUSINESS TIMES THE NEW PAPER LIANHE ZAODAO LIANHE WANBAO SHIN MIN DAILY NEWS BERITA HARIAN BERITA MINGGU •SP s/ngapore Press Holdings
      44 words
    • Advertisement
      Page 28 Advertisements Column 2
      37 28 SELL* FIND** 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 fI I t 1800-737-1166 Coll Today For Results Tomorrow.
      37 words
Page thumbnail Page 29
  • Page 29 Advertisements
    • Advertisement
      Page 29 Advertisements Column 1
      392 29 j"A 11/lflA QmA Jj Presented A DiftCKS Clllb Offers FREE SOS* Global To caiL V\ nere to W1I1C« QUIC BIIU CniClT3iri««* v internationat Emergency Referrals Whilst overseas. *****45 r W "Tunch" is the best for lunch and high tea rolled into one. Which means longer serving hours and even more
      392 words
    • Advertisement
      Page 29 Advertisements Column 2
      52 29 11 M 1 CofywQucy J j j SELECTED I DIAN XIN DISHES j I jAT $2.50 FOR LUNCH j I j 25% OFF i j YOUR DINNER BELL*! TfflS MONTH i Reservations:224-3203 *On nonfunction nights only 7th Floor, Overseas Union House, Collyer Quay, Singapore *****1 Brunch for your Bunch in
      52 words
Page thumbnail Page 30
Page thumbnail Page 31
  • Page 31 Miscellaneous
    • Miscellaneous
      Page 31 Miscellaneous Column 1
      1940 31 TODAY'S TV 2.10 Chinese Top 20 Count--10.00 AM Response TV. down. 12.00 NN TV Innovations. i/y 4.00 TV Innovations. LOO PM 1998 Summer XGames. 2.00 Sports: World Soccer 8.00 AM TV Innovations show5 how 2.00 PM Littlest Pet Shop. 2*30 Sports. Tennis ATP Tour My LitUe Pony Magazine Show 98.
      1,940 words
    • Miscellaneous
      Page 31 Miscellaneous Column 2
      230 31 RADIO Crime And Punishment, Wentworth and why is the BBC, Saturday, 10.30 am woman telling this story so John Pickford takes a obsessed with him? It has historical look at crime and been many years since he punishment and responses went missing, and now she to it -as well as
      230 words
Page thumbnail Page 32