The Business Times, 17 November 1998

Total Pages: 40
1 40 The Business Times
  • 12 1 MITA(P) 110/12/97 THE BUSINESS TIMES SINGAPORE TUESDAY, NOVEMBER 17, 1998 Internet: http://business-times.asial.com.sg/
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  • 65 1 DuiUM (+34-&) □wt-m mum (+14.02) Flora mum U 18&59 (+5.50) ETB HAKKETBOODc Hf Mind STOCK HAIXETIXDfCES r Monday Change KLSECOMP MM WKKH I4,«M7 —+MMI HANG SENG 10,SHJ>—+*Ml 8Bf INDEX Jtt.lt ♦Hi JAKARTA COUP _JMA MANILA COUP —t,7« M TAIPEI WPl 7 JIM7 —+174JI SEOUL COUP 4tt2t +7JI CLSA
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  • 73 1 FOBEX KATES ust ss US»_ 1«7 £(USS/S$ per 1.170 1741 DM 1J7J 1*4 TEN 1212 IMT RM UN 9.433 HKS 7.743 UU BAHT MB IW RUP1AH Ifi*—MK* 'Stmmmta FUME BATES SINGAPORE* 181 KUALA LUMPUR 11.M JAKARTA 28.06 BANGKOK 14.75 MANILA T 22JI HONGKONG MA TAIPEI &M SYDNEY 8.46 TOKYO
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  • 594 1 The fund aims to help ailing banks and companies to restructure Reuters [KUALA LUMPUR] US President Bill Clinton and Japanese Prime Minister Keizo Obuchi yesterday announced a US$lO billion (5516.5 billion) initiative to help restore growth in crisis-stricken Asia by helping ailing banks
    Reuters; REUTERS  -  594 words
  • 363 1 Reuters [KUALA LUMPUR] US VicePresident A 1 Gore last night delivered a blunt lecture on democracy that a furious Malaysian trade minister Rafidah Aziz condemned as "the most disgusting speech I've heard in my life". Mr Gore, attending the Asia-Pacific Economic Cooperation (Apec) leaders meeting
    Reuters  -  363 words
  • 455 1  -  Price for en bloc deal is 65% lower than '97 launch prices By] Lilian Ang [SINGAPORE] In a surprise en-bloc deal, the listed Lum Chang group has sold nearly half of its 36-unit luxury Draycott Park project to a
    455 words
  • 163 1 [SINGAPORE] Expectations of a US interest rate cut sent most regional bourses higher yesterday, with Singapore, Hongkong and Thailand gaining at least 3 per cent each. Property stocks were the focus in Singapore, with the SES All Properties Index rising
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  • 1172 1  -  Markets greet new 24t yen package aimed at creating 1% GDP growth From Anthony Rowley in Tokyo THE Japanese government yesterday staked its political reputation on a new package of fiscal stimulus measures the largest ever undertaken at one go promising to
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  • Page 1 Advertisements
    • 133 1 IMBIBE Thailand likely to achieve growth... predicts a nraqor Thai bank FuH raport, Fg 9 wa. *sc.rr. AH abut bits Lee Han shth oil whether real estate investment tntsts or Raits are good for property stocks, The Singapore brokers are now telling their clients that their KL-listed shares can be
      133 words
    • 4 1 Market reports, Pg 22-26
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    • 66 1 Moro report* on Apec Summit PM Goh pushes for G-22 Idhdership, Pg 8 Convergence of views on S'pore-M'sia cooperation, Pg 6 Taiwan to inject OSISOdmInteXL.I^S: 9 Summit View, Pg 6 I your your a company approaches to company by Telstra you freedom We to already Fortune by technology. J Y
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  • SINGAPORE AT HOME & ABROAD
    • 423 2  -  Republic aims to be hub of Asia-Pacific, says Mah at Comdex From Kenneth James in Uis Vegas SINGAPORE'S first global campaign to promote the republic as an information technology centre kicked off in style here on Sunday at the IT industry's
      423 words
    • 419 2  -  Touch of Hollywood, Montreal circus and an Orchard Sd party By i Ang Wan May THE Star Trek USS Enterprise will be docking in Changi to usher in the new millennium, and the circus will be in town. Not just any
      419 words
    • 443 2  -  By, Audrey Tan SINGAPORE firms may have been spared a harder hit from the regional turmoil, as their investments in Asean slowed significantly even before the economic crisis. A Department of Statistics (DOS) report yesterday shows that even in 1996 Singapore's direct
      443 words
    • 478 2  -  Strong savings seen as a factor behind opting for status quo despite likely GPF cut ffr/SU Siow Li Sen, Conrad Raj THE impending cut in Central Provident Fund contributions does not look to be a major problem for some housing loan
      478 words
    • 739 4  -  CSC MANUFACTURING SUB-COMMITTEE Idea is to lower a worker's disposable income in the early Stage of his service By I Carol Eng Source: CSC CHANGE the current ratio of -employer-employee Central Provident Fund (CPF) contribution rates so that workers
      Source: CSC  -  739 words
    • 392 4 GOVERNMENT agencies should moderate their surpluses in the current downturn, and plough the sums built up over the years back to the economy, says the manufacturing sub-group of the Committee on Singapore's Competitiveness (CSC). Also, the government should take a "different" tack looking
      392 words
    • 103 4 SINGAPORE Business, the monthly business magazine published by Times Periodicals, wiU be suspended after the December issue. Advertisers were informed of the suspension in a circular yesterday, which cited "prevailing weak conditions for advertising". Subscribers wiU be refunded the balance of their outstanding subscriptions. Singapore Business, in
      103 words
    • 418 4  -  Republic's financial sector liberalisation tips the scales Reports by Catherine Ong SGZ-BANK, the largest of Germany's cooperative banks, chose Singapore over Hongkong to set up its first Asian branch as it was encouraged by the Republic's decision to liberalise its financial sector.
      CHRIS LOH  -  418 words
    • 510 4 ft sees scope in Asia ibrMAAsand corporate revamps •LAZARD Freres, the blue--chip, privately-owned investment bank, is beefing up its presence in Singapore and JHongkong in anticipation of «n Asian economic recovery. It sees the regional crisis Rowing up business opportunities in
      ARTHUR LEE  -  510 words
    • 278 4  -  EYE ON THE ECONOMY Commerce By] Eugene Low SINGAPOREANS and other residents have cut back sharply on eating out, drinking and merry-making. The slide in food and beverage revenue worsened in September to 23 per cent in year-on-year terms, compared to about 16 per cent in
      Source: STB  -  278 words
    • 578 4  -  LETTERS TO THE EDITOR Augustine H H Tan Singapore I REFER to the letter "Value of property is only on paper" (BT, Nov 12) in which Yue Keng Mun commented on your earlier report quoting some comments of mine about the state of
      578 words
    • 332 4  -  Oh Soh Beng Singapore YUE Keng Mun (BT, Nov 12) should state his interest in property, ie whether he owns one or is waiting or hoping to buy one. My guess is he falls in the latter category. All those strident voices calling
      332 words
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  • Page 3 Advertisements
    • 96 3 Do you want more from your bank than a standard agenda? Do you want them to look beyond the obvious? To view things from a completely fresh perspective, to help you make longer-term plans or focus on entirely new horizons? Or do you simply expect more commitment? If so, perhaps
      96 words


  • FOCUS: PROPERTY
    • 610 5 Property auctions coming up THURSDAY, NOV 19 (2.30pm) Grand Plaza Parkroyal, Ballroom 2 Rooidontifll 24 Sommerville Walk: 3-sty detached bungalow, 13,322 sq ft/FH" 21 Lornie Walk: 2-sty semi-D, 3,226 sq ft/FH" 15 Jalan Limau Purut: 2-sty semi-D, 3,466 sq ft/FH** 4 Jalan Anak Patong: 2-sty intermediate terrace,
      610 words
    • 645 5  -  THE PROPERTY COLUMN Investment trusts' property forays will set new and probably lower benchmarks By Lee Han Shih FOR the entire last week, stockbrokers had been talking about someone with inside knowledge bidding up property shares. On Friday, they found their suspect
      645 words
    • 231 5 AFP [HONGKONG] A report by investment house Salomon Smith Barney said that following the 25 basis-point cut in interest rates announced on Oct 16, flat sales in the residential market had increased by around 30 to 50 per cent. This would have allowed
      AFP  -  231 words
    • 242 5  -  LETTER TO THE EDITOR Gaw Seng Suan Director (alienation division) for Commissioner of Lands PLEASE refer to Lee Han Shih's article entitled "The power of the low-profile Land Office" in BT dated Nov 10, 1998. The Land Office's practice of charging differential premium (DP)
      242 words
  • Page 5 Advertisements
    • 30 5 Come to The Straits Times Classifieds ''Open House" first for that new home, office I or shop space. ■JHzJ W^af t?nM -<4 t M mj 11J /J Classifications 402-568: Properties
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    • 232 5 I made I in •1 Germany German Manufacturing Technology Leading Worldwide The electronic and related precision engineering industries, including mould and die makers, as well as aerospace, shipbuilding, automotive components manufacturers and highly developed local trading sector are our major customers on Singapore's market These branches are the engine driving
      232 words
    • 9 5 Worse not over for Asian banks: Salomon, Pg 20
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    • 310 5 11 TAMPINES STREET 92 FOR SALE BY TENDER Description 4-storey purposebuilt light industrial, building BuHt-in Area 107,934 89 aq ft •Land Area 161.458.505qft Tenure HOB leasehold, 30.« 30 yrewaJ. 1/13»i. Near to Tampinas Regional Centre, TampinesMßT Station, Changi Business Park, future Singapore Expo and Changi —J International Airport J' Tender
      310 words

  • APEC SUMMIT
    • 688 6  -  SUMMIT vusW But world leaders reftise to heed his call to leave politics out of summit By Yang Razali Kassim AMID expectations of some tough exchanges on financial and political issues, host Malaysian Prime Minister Mahathir Mohamad has set the stage for the Apec summit
      688 words
    • 455 6  -  Talks on aid, water deal after Apec summit: PM Gob From Yang Razall Kasslm in Kuala Lumpur SINGAPORE Prime Minister Goh Chok Tong yesterday spoke of a "convergence of views" between him and Malaysian Prime Minister Mahathir Mohamad on current moves to foster economic
      455 words
    • 607 6  -  HK concerned ever "regulatory arbitrage' From\ Loh Hui Yin in Hongkong THERE must be greater cooperation between the regulatory authorities in Hongkong and Singapore over plans by the Simex to launch a Hongkong stock index futures contract next week. This would ensure
      607 words
    • 496 8  -  He stresses need for global leadership and not leaving matters to 6-7 and IMF From' Yang Razali Kassim in Kuala Lumpur PRIME Minister Goh Chok Tong will push for new global leadership to rebuild the world financial system at the three-day
      496 words
    • 421 8  -  Firms picked, funds from govt-b&cked private-sector body From\ Ruth Wong in Kuala Lumpur TAIWAN will inject some US$3OO million (*****.8 million) into selected Malaysian firms involved in the palm oil, manufacturing and services sector, International Trade and Industry Minister Rafidah Aziz said
      421 words
    • 56 8 [KUALA LUMPUR] A US security officer using a pair of binoculars to monitor the hotel rooms where US leaders are staying during the Apec summit in Kuala Lumpur yesterday. More than s,7ooMalaysian policemen have been deployed around the Apec venues. The summit will be opened by Malaysian
      AFP  -  56 words
    • 259 8 Reuters [KUALA LUMPUR] Australia said yesterday it will spend Asso million (5152.5 million) over the next three years to help seven Asian nations improve their economic and financial management. Prime Minister John Howard, in Kuala Lumpur for an Asia-Pacific Economic Cooperation (Apec)
      Reuters  -  259 words
    • 188 8 Reuters [KUALA LUMPUR] Philippine President Joseph Estrada met Anwar Ibrahim's wife yesterday in a show of support for Malaysia's sacked deputy prime minister. Wan Azizah Wan Ismail and her eldest daughter, Nurul Izzah, entered a hotel in the capital where they joined
      Reuters  -  188 words
  • Page 6 Advertisements
    • 106 6 I CNBC ASIA. YOUR SURVIVAL KIT FOR TURBULENT TIMES. Nothing can help you survive the Asian economic crisis more than Asia. With our we are to cover breaking news as as its impact on Asia and the Because we are Asian and based in Asia, we not only provide relevant
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    • 46 6 HK tetnres market allowed longer trading hours, Pg 17 PRIME OFRCE SPACE TOR LEASE AT UE SQUARE Along Qemenceau Ave/ River VaNey Rd Consider locating amongst prestigious Tenants Arsas: 3200/SOOO/S.OOO sq ft Panoramic view. column free spacs Available for Immediate occupation for inqukim. pttast cat owner
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  • Page 7 Advertisements
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  • ASIA'S ECONOMIC SLUMP
    • 570 9  -  Siam Commercial Bank forecast contrasts with govt's 1-1.5% projection From Harish Mehta in Bangkok THAILAND could stage a dramatic recovery with 5.2 per cent economic growth next year, said a major Thai commercial bank in the most upbeat assessment yet, one that far
      570 words
    • 487 9 Fnnd sees growth in '99, seeks tougher controls on chaebol AFP [SEOUL] The International Monetary Fund has given a morale-boosting vote of confidence to South Korea, praising "significant progress" in its economic shake-up, officials said yesterday. The IMF agreed, in a review
      AFP  -  487 words
    • 319 9 Sept surge its second highest ever, marks 18th straight rise AFP [TOKYO] Japan's current account surplus in September surged 70.4 per cent from a year earlier to 1.9325 trillion yen (Ss26 billion) officials said yesterday, as pressure mounts on Tokyo to open its markets.
      AFP  -  319 words
    • 256 10 AFP [BEIJING] China's obsession with reaching an 8 per cent economic growth rate for 1998 is dangerous and could backfire with a bout of overheating, an economist warned in remarks published yesterday. "It is not completely impossible, but it will be
      AFP  -  256 words
    • 545 10  -  Tung refers to a very difficult Q3 bnt says economy seems to be stabilising From Loh Hui Yin in Hongkong THE recession-hit Hongkong economy had a "very difficult" third quarter but it appears to be stabilising in the current quarter, said Hongkong Chief
      AFP  -  545 words
    • 371 10 TAIPEI NTs2oob emergency fond unlikely to be fully utilised, he says Reuters STATE moves to rebuild confidence in Taiwan's stock market are working, making it unlikely an emergency stabilisation fUnd will have to be deployed in full, Finance Minister Paul Chiu said yesterday. "Market
      Reuters  -  371 words
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  • REGION
    • 943 11  -  Jakarta hauls up opposition figures, says subversives behind violence From I Shoeb Kagda in Jakarta leader Amien I Rais fired a stern warning to •the government yesterday "that he would organise mass protests to topple President 13 J Habibie's
      REUTERS  -  943 words
    • 274 11 JAKARTA Former president targeted by Indon legislative body AFP INDONESIA'S President B J Habibie yesterday ordered a minister to prepare a draft law to enable an investigation of the wealth of ousted president Suharto. The draft was ordered by the country's
      AFP  -  274 words
    • 312 11 KUALA LUMPUR Islamic opposition party may also allow drag queens to join AFP MALAYSIA'S main Islamic opposition party may accept non-Muslims and drag queens as members amid growing discontent with the ruling coalition over the ouster of deputy premier Anwar Ibrahim. Parti Islam Semalaysia (PAS),
      AFP  -  312 words
    • 240 12 BOMBAY AFP INDIAN industry and trade representatives yesterday shrugged off the publication of a US hit-list of 40 companies and their 200 subsidiaries barred from trading with the United States. "In commercial and economic terms the announcement of the list of companies
      AFP  -  240 words
    • 458 12  -  Nine regional HQs to replace provincial branches in system modelled on US Fed By Lu Ning [SINGAPORE] In a major step to remodel the Chinese central banking system along the lines of the US Federal Reserve system, China yesterday announced the setting up of nine
      458 words
    • 226 12 SYDNEY Senior members want her top two advisers ont AFP SENIOR members of Australia's far-right One Nation party are considering forcing founder and leader Pauline Hanson to step aside, according to a report yesterday. Members of the party's powerful branch in Queensland the only state
      AFP  -  226 words
    • 296 12 SEOUL Tax breaks, other incentives offered to foreign investors AFP SOUTH Korea yesterday offered full tax breaks and other incentives for foreigners seeking to invest in 70 high value-added service sectors. The incentives highlighted a new foreign investment law, which takes effect today.
      AFP  -  296 words
    • 352 12 TOKYO AFP A JAPANESE ruling party candidate won the battle to be governor of Okinawa, results showed yesterday, offering hope for a breakthrough in plans to reorganise the massive US military presence. Keiichi Inamine, 65, backed by the ruling Liberal Democratic Party (LDP), narrowly
      AFP; REUTERS  -  352 words
  • Page 11 Advertisements
    • 8 11 Editorial: Indonesia on the brink again, Pg 14
      8 words
    • 222 11 comprehensive University luinofa southern Illinois university 1 Carbondale, Illinois, USA I*** BD Nationally accredited by AACSB I Fully accredited by NCACS X~ New Intake in Singapore »28 November '98 I Management •18 months only; 11 modules; 495 contact hours Education CENTRE 100% completed in Singapore dum* I 100% taught by
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    • 240 11 9 Texas Breakfast in Singapore. > Let the ideas flow as fast as you can write them down, then send the notes to team members via email or the Internet Vas you get on with your busy day. JAf™ Ideaboard *****0 Series Meeting in Melbourne. I View, discuss and make
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  • Page 12 Advertisements
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  • THE WORLD
    • 602 13  -  The US may have won, bat there's no guarantee Saddam won't act up again Froml Leon Hadar in Washington THE decision by Baghdad to allow United Nations arms inspectors to return to Iraq suggests that in the latest diplomatic brinkmanship game
      REUTERS  -  602 words
    • 370 13  -  SINGAPORE ByA Annette Pau THE global electronics sector is seeing an improvement in the fourth quarter, with personal computer demand looking "pretty good", memory chip prices picking up, and disk drive shipments growing at least 10 per cent over Q3,
      370 words
    • 345 13 MOSCOW Without govt help, defaults imminent, say analysts Bloomberg RUSSIAN banks have begun appealing to foreign creditors to reschedule more than US$l2 billion (5519.8 biUion) in debt payments now that the government's threemonth moratorium on repayment of private companies' obligations has expired. Already,
      Bloomberg  -  345 words
    • 220 13 ROME AFP FOREIGN and defence ministers from 28 countries yesterday launched a fresh round of discussions on how Europe can assume a greater responsibility for its own security, particularly in the management of crises on its doorstep, like Bosnia and Kosovo. The talks, which
      AFP  -  220 words
    • 368 13 BRUSSELS FT EUROPE lags behind the US on virtually all measures of competitiveness, according to a report that will make grim reading for EU industry ministers meeting in Brussels yesterday. The report highlights the European Union's inability to create new jobs as
      FT  -  368 words
    • 266 13 BONN Reuters TOP German and French financial officials met in Bonn yesterday, and high on their agenda were European economic policy coordination, currency target zones and ways to foster growth and combat unemployment. Bundesbank president Hans Tietmeyer said yesterday that the US$4l billionplus (above 5567.5
      Reuters  -  266 words
    • 380 13 WASHINGTON Unexpected OJ% drop seen giving Fed leeway to cut rates Bloomberg INDUSTRIAL production in US fell in October for the fourth drop in the last five months, giving Federal Reserve policy-makers leeway to cut interest rates for a third
      Bloomberg  -  380 words
    • 287 13 MOSCOW Reuters GERMAN Chancellor Gerhard Schroeder arrived in Moscow yesterday for a twoday visit during which he is likely to shift the emphasis in relations with Russia away from President Boris Yeltsin. Mr Schroeder headed straight from the airport for talks with
      Reuters  -  287 words
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  • EDITORIAL & OPINION
    • 764 14  -  THE BOTTOMLDVE OPINION By Shada Islam The writer is a Brussels-based journalist who contributes to BT AS 11 European Union states prepare to launch a single currency on Jan 1,1999, governments in the bloc are finally starting to tackle the
      764 words
    • 173 14 'I've never had so much difficulty getting anything —except a husband.' -NikkiHukell a customer, who has visited stores every day for more than a month hoping to buy Fur by. Hasbro Inc's electronic fur ball that kisses and throws tantrums. Things aren't as dire as they were.'
      173 words
    • 595 14 EDITORIAL AFTER last week's military crackdown on protesting students which left 15 dead, and the subsequent rioting and looting, President B J Habibie and his government can no longer pretend to be in control of events in Indonesia Clearly, the brief respite Indonesia's leadership was
      595 words
    • 1182 14  -  Will Japan's corporate crisis break the taboo on laying off workers? Byi Alexandra Harney, Paul Abrahams FT THE pain inflicted by Japan's longest post-war recession is no longer confined to the financial system. It has spread to the heart of Japan's industrial complex, afflicting
      FT; FILE PHOTO  -  1,182 words
    • 290 14  -  "iW.WIT Tan Kok Tim I REFER to the article "New Bretton Woods is not the answer" (BT, Nov 12). On Jan 1, Europe will launch the new euro. It is a major step to achieve financial peace on the European continent. The world
      290 words
    • 548 14 THfpr-tapPf troopo INDONESIA veered perilously close to chaos over the weekend as students demonstrated their anger over the killings of their peers at the hands of security officers. Many members of less privileged groups of society milled on the streets, ready to take advantage of the
      548 words
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  • Page 15 Miscellaneous
    • 826 15 TV&BADIO Hrwhli It by Wheel of Fortune. 2.00 TV Innovations. 1 J.lllTat fTiTTSn^ ain phi tv innmntinno The Pyramid Game. 4.00 Nalanthana. 400 Sesame Strwf *22 News 5At Seven. 440 Naalaavathu Mudichu. I «aa T »l re t t 7.30 Cosby The Pilot. 5.00 lineal Sinthanaikku 5.00 Pooular Mechanics For
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    • 164 15 CKVPTIC CROSSWORD 1 Fool, accept passenger 21 Vessel one going up and i^BtZjBtZjPBZZpi(ZjBL!jrZ3BCZI down on waves? (7) 24 Strong chance of search for 28 Out of the running, but won 30TtStaem that goes swim- ®SU*^ scab(6 7) YESTERDAY'SSOLUTION mrngly? (12) 'an enonnous creature IsJqlulalrlelmlelallßrlal i 1 DOWN 15 King takes
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  • EXECUTIVE LIFESTYLE
    • 673 16  -  After shoulder surgery in April, a long rehabilitation, the Aussie wins the Shark Shootout tournament Steve Springer reports Steve Springer LAT-WP TWO feet. That was all that remained for Greg Norman at the end of a long and painful journey which began seven months ago. After undergoing
      LAT-WP; PHOTOS BY REUTERS  -  673 words
    • 561 16 TENNIS World No 2 hasn't won major title since May, hopes to beat Davenport in last try NYT [NEW YORK] The sushi platter was not allowed to remain a marine still life for long. After doing a double-take at the size of her portion,
      NYT; FILE PHOTO  -  561 words
  • Page 16 Advertisements
    • 124 16 has a range footwear can soreness when you The It the sole gently at the heart propels you every shoe through the the remarkable motion, sole has been really to lessen the concept stress shoe When you take a step, the has already the BOUNCE® sole by the You can
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    • 155 16 I Culinary I creations 1 Jrom the 1 volcanoes, i The Japanese believe that to enhance the subtleties of the culinary palate, only the finest ingredients must be used. Qi Water is no exception. So Keyaki uses only Volvic, A the natural mineral water from the volcanic region in France.
      155 words

  • COMPANIES & MARKETS
    • 633 17  -  Investors needn't rnsh to set np accounts with M'sia central depository By Ven Sreenivasan [SINGAPORE] Singapore brokers are now telling their clients that their Kuala Lum-pur-listed shares can be transferred en-bloc by the broking houses into nominee accounts maintained by Malaysian Authorised Depository
      633 words
    • 450 17  -  This puts HKFE on a par with Simex when it starts Hang Seng futures trading From. Loh Hui Yin in Hongkong BRUSHING aside objections from the stockbroking industry, the Securities and Futures Commission is to allow the Hongkong Futures Exchange (HKFE) longer trading
      450 words
    • 671 17  -  HOCK LOCK SIEW Meera Tharmaratnam THERE'S something awkward in Malaysia's bad debt numbers. Last Wednesday, bad loan agency Asset Management Company (AMC) said it was buying non-performing loans (NPLs) from various Malaysian banks to the tune of RM11.2 billion (554.9 billion).
      671 words
    • 365 17  -  LETTERS TO THE EDITOR Badariah Ismail Corporate Affairs Department Securities Commission I REFER to your report "KLSE regulator to allow appeals on transfer of shares" (BT, 14 Nov). The amendments to the Malaysian securities laws were aimed at transparency and ensuring that
      365 words
    • 342 17  -  Henry Law Director Corporate Communications Department The Stock Exchange of Hongkong I REFER to the commentary by David Deßosa headlined "Gone is the Hongkong of laissez-faire economics" (BT, Nov 11). Ignoring Mr Deßosa's hyperbole, allow me to reassure your readers that free market
      342 words
    • REGIONAL COMPANIES
      • 429 18  -  Full-year results set to fall short of last year's $70m profit, warns deputy CEO By) Louis Beckerling [SINGAPORE] Electronic goods distributor Thakral Corp yesterday reported a sharply lower net profit of $25.9 million at the halfway mark. Group deputy CEO Elie Baroudi also
        CHRIS LOH  -  429 words
      • 279 18 It's eyeing PNB's plantation, property, insurance sectors AFX- Asia [KUALA LUMPUR] Sime Darby Bhd said it will explore business opportunities with Permodalan Nasional Bhd companies in the plantation, property development and insurance sectors, the Star reported, quoting group chair- man Ahmad Sarji Abdul
        AFX- Asia  -  279 words
      • 289 18  -  Front Ruth Wong in Kuala Lumpur PROPERTY-BASED Pernas International Holdings Bhd has agreed to sell a prime office building, known as Pernas International Building, to stockbroking firm K&N Kenanga Holdings Bhd for 107.5 million Malaysian ringgit (5546.5 million) cash. Pernas said yesterday
        289 words
      • 324 18  -  From, Al Labita in Manila DEBT financing has exacted a heavy price from Metro Pacific Corp (MPC) whose aftertax profit in this year's first nine months slumped a whopping 75.4 per cent to 172.4 million pesos (Ss7.l million). The results were much lower than most
        324 words
      • 215 18 Bloomberg [SINGAPORE] PT United Tractors, a unit of Indonesia's largest carmaker, PT Astra International, postponed a creditors meeting in Singapore on Friday after its parent scheduled an announcement for yesterday, a banker at Sumitomo Bank Ltd said. United Tractors, which has about US$27O million
        Bloomberg  -  215 words
      • 356 18  -  Keppel lowers it to 49.5 cents a share in proposed merger By Conrad Raj [SINGAPORE] Keppel Corporation has once again lowered its takeover price for Hitachi Zosen Singapore Ltd. The government-linked conglomerate will now transfer all the assets and business of its wholly-owned shipyard
        356 words
      • 230 18 AFP [TOKYO) Japan's Yamaha Motor yesterday said it took heavy profit falls in the six months to September as the economy at home slumped. Yamaha said parent pretax profit fell 29.5 per cent in the half to 5.4 billion yen (5572.4 million). Sales
        AFP  -  230 words
      • COMPANY Briefs
        • 59 18 {SINGAPORE] Flextech Holdings plans to sell 10 million new shares in wholly-owned STI Holdings Ltd to employees of STI and its subsidiaries at six US cents a share. Proceeds totalling US$6OO,OOO (*****,600) will go to working capital. The new shares will make
          59 words
        • 70 18 [SINGAPORE] LC Development said yesterday it has completed a joint venture agreement with Nichimen to develop a residential project on Holland Road. In return for a 14.5 per cent stake in LC subsidiary Hillgate Investment Pte Ltd, Nichimen will sell Cornwall Mansions to Hillgate.
          70 words
        • 62 18 {SINGAPORE] Tokyu Land Corporation yesterday said its depository receipts of Singapore (DRS) will be delisted from the Stock Exchange of Singapore from Jan 5,1999. Trading in the DRS will cease in the "ready" and "odd-lot" markets with effect from Dec 28. Trading in the
          62 words
        • 77 18 [SINGAPORE] Vicom Ltd reported an interim net profit of $940,000 for the six months ended Sept 30, up about 25 times from $37,000 in the same period last year. Turnover rose 38 per cent to $5.27 million. Vicom said the sharply higher profit was
          77 words
        • 53 18 [SINGAPORE] C&K Holdings Pte Ltd has raised its stake in Pan Pacific Public Company to 9.14 per cent through a purchase on the open market. It bought four million shares, or 7.31 per cent of the issued share capital, at 40 J cents
          53 words
        • 47 18 [SINGAPORE] Former Freight Links Express Holdings executive director Tan Kay Hock has resigned as director of various subsidiaries and associates within the group, except Vincent Intertrans (Holdings) Limited Group in Hongkong. Executive vice-president Thomas Woo has been appointed in his place.
          47 words
        • 65 18 [SINGAPORE] Koh Brothers has stopped all work at the construction site of Sun Plaza in Sembawang following an accident yesterday morning which left one worker dead and nine injured. The Ministry of Manpower is investigating the accident. Preliminary investigations revealed that the workers
          65 words
        • 66 18 {SINGAPORE] General Magnetics yesterday said it paid $40 for each of the 5,000 shares in subsidiary General CD Pte Ltd that it bought from Rolf Neumann. It added that there was no payment for 500 shares from Chartac Nominees Pte Ltd as it was a
          66 words
        • 52 18 Corrections Clarifications SIME Singapore yesterday said there had been no investigation into its operations or any of the companies within the Sime Singapore group. The mainboard-listed company was responding to a BT report on Monday which said there had been an internal report on a probe into the operations under
          52 words
    • REGIONAL/INTERNATIONAL COMPANIES
      • 351 19 140 creditors of Thai Petrochemical Ind to convert USs33om into a 30% stake AFP [BANGKOK] Thailand's second largest corporation, Thai Petrochemical Industry (TPI), yesterday said it had struck a deal with creditors to swap part of its massive debt to equity. Chief executive
        AFP  -  351 words
      • 280 19 Cable Wireless to spend US$1b on Europe network It targets firms needing global end-to-end solutions Bloomberg [LONDON] Cable Wireless pic, Britain's second largest phone company, will spend US$l billion (551.64 billion) over five years to build a telecomftfhnications network throughout Europe as the company builds on its Internet network in
        Bloomberg  -  280 words
      • 168 19 Bridge News [TOKYO] A Sumitomo Bank spokesman has denied a weekend press report indicating the bank had decided to seek public funds to bolster its capital base under the new bank recapitalisation law. However, the bank is considering applying for the funds, and the
        Bridge News  -  168 words
      • 221 19 Bloomberg [HONGKONG] Nikko Securities said it will close its three Hongkong units by mid-Janu-ary. The decision comes about two months after Japan's third largest brokerage fired 31 Hongkong employees, or 20 per cent of its staff, following its merger with- Salomon
        Bloomberg  -  221 words
      • 228 19 AFP [TOKYO] US ratings agency Moody's Investors Service warned yesterday it may cut its ratings for two troubled Japanese carmakers, Nissan Motor and Mitsubishi Motor. Moody's said it put on review for downgrade its 'Baa 3' ratings for both companies, just one notch above junk bond
        AFP  -  228 words
      • 164 19 Bloomberg [LONDON] Scottish Power pic, a provider of electricity, gas, water and telecommunications services, is in talks to acquire US electricity company PacifiCorp for £4 billion (Ssll billion), UK newspapers reported. The Sunday Times and the Sunday Telegraph said the Scottish company is
        Bloomberg  -  164 words
      • 57 19 [TOKYO] Narumi Fukai, an employee of Japan's Sanyo Electric Co Ltd, displaying its new hairdryer with a Hello Kitty design at the company's Tokyo head office yesterday. Hello Kitty is a popular cartoon character in Japan. Sanyo will put the hairdryer on the market
        AFP  -  57 words
      • 182 19 Reuters [SYDNEY] Australian fund management and life insurance giant AMP Ltd yesterday warned its takeover target GIO Australia Holdings that the withdrawal of AMP's bid would trigger a plunge in GlO's share price. AMP chief financial officer Paul Batchelor, speaking on the
        Reuters  -  182 words
    • FINANCE & COMMODITIES
      • 461 20 Analysts note signs of recovery, but say return to pre-crisis conditions unlikely Bridge News [HONGKONG] Asian analysts at US investment bank Salomon Smith Barney, a unit of Citigroup, said yesterday that while there have been encouraging developments in Asian markets in recent
        Bridge News  -  461 words
      • 202 20 Bloomberg [TOKYO] Japanese investors were net buyers of foreign stocks and bonds for the sixth straight month in September as they sought higher returns overseas. Japanese investors bought a net 1.0114 trillion yen (5513.7 billion) in foreign bonds, including US Treasuries, and a net 213.1
        Bloomberg  -  202 words
      • 277 20 New firm a merger of units of Hyundai and Samsung gronps Bloomberg [SEOUL] Mitsui Co, one of Japan's largest trading companies, agreed to arrange a US$l.5 billion (552.5 billion) loan and investment package for a new South Korean petrochemical company to be
        Bloomberg  -  277 words
      • 215 20 Reuters [TOKYO] The Tokyo Stock Exchange (TSE) is planning to lower its listing requirements to make it easier for more firms to list, exchange officials said yesterday. They declined to elaborate, adding that the bourse is likely to release details as early as
        Reuters; FILE PHOTO  -  215 words
      • 387 20 Bloomberg [SYDNEYJ Australia and New Zealand Banking Group Ltd (ANZ), Australia's fourthlargest bank, said it has increased a planned US sale of preferred shares by US$l5O million (*****.2 million), taking the amount of capital it has raised over the past three months to
        Bloomberg  -  387 words
      • 245 20 Bloomberg [NEW YORK] Copper has fall en to an 11 '/i-year low as a relentless rise in inventories signalled that consumer demand isn't strong enough to absorb new mine production. Chile's state-owned mining company Codelco, the world's largest copper producer, said earlier this
        Bloomberg  -  245 words
      • 178 20  -  ■Simmi Report MSd Taiwan (Moras Perry Gilbert, Refco Singapore THE Simex MSCI Taiwan Index futures surged yesterday as traders positioned themselves ahead of the expected infusion of NT$2OO billion (Sslo billion) into the cash market by the Taiwan government. Yesterday's movement was less than
        178 words
      • 254 20 ENERGY REPORT Bloomberg {NEW YORK] Crude oil fell 3 per cent to a four-week low yesterday after a US-led military strike against Iraq was averted over the weekend, ensuring the uninterrupted flow of supplies from the Persian Gulf. Iraqi President Saddam
        Bloomberg  -  254 words
      • 277 20 AFX-Asia AFP THE dollar was broadly lower in late trade, responding negatively to the release of weaker-than-expected US industrial output data and ongoing speculation that the Fed is set to cut rates again at today's FOMC meeting, dealers said. According to one trader, the dollar is set to
        AFX-Asia; AFP  -  277 words
      • Article, Illustration
        1239 20 DtTEEBAMK CROSS RATES Nov 16 C$ Kw> ECU ffr >■ HK$ tod fa Y« W- m M2$r*ti Nta SS land Sir W$ lit Wt owo 0.543 3.581 1.068 4.944 27.029 48.662 <780 8.404 2.426 1189 34.993 ***** 1051 3654 0182 20.813 ***** OJBfLUk k"** l«0 5.353 0.548 3148 1079 <994
        1,239 words
    • 1637 21 *****1 FUTURES Navie IUMCR (Muras cMi|at at SJOpi) RSS1 CONTRACTS cMfe/ty CteM Vll—I OfM Wjfc Urn utt (tww» itewt Dtt n moo 490 J»99 H7.00 HO Faft 99 119JO 117.75 118.00 750 1025 **99 119.75 B75 Apr/Jwt 99 124.00 3000 Mft*9 99 121.00 HO Oct/Btc 99 ***** RSS
      1,637 words
    • 2132 21 LONDON Industrials N»l* taci 31 Group 541.000 6 000 AB Ports 285.000 -0.400 Abbey National 1203.250 40.850 AMed Domecq 507.000 -8.000 Allied Zurich 727.000 39.600 Arrwc 167.000 11.000 AsdJ Group 157.000 -2.000 BAT Md 524.000 8.000 BO Pie 408.000 7.400 BICC 69.400 2.000 BOC Group 848.000 22.000
      2,132 words
    • 1628 21 Bloomberg Q Nikkei 225 ♦***** JAPANESE stocks rose for a second day, led by banks after Sumitomo Bank Ltd said it may apply for public funds and scale back its global operations in an effort to strengthen its Financial base. But investors found no surprises and little encouragement in
      Bloomberg  -  1,628 words
    • Article, Illustration
      1535 22 Reuters AFP P Hang Seng +***** STOCKS ended with sharp gains yesterday as hopes of an interest rate cut in the United States and an encouraging response to weekend apartment sales in the territory swept share prices higher, brokers said. The Hang Seng Index ended up 300.10 points, or
      Reuters; AFP  -  1,535 words
    • Article, Illustration
      613 22 Reuters HI Shenzhen B Index *0.67 SHENZHEN'S B Share Index closed higher in sluggish trade yesterday as domestic investors diverted their attention to the nation's increasingly active A share market, analysts said. The B Index rose 0.67 of a point to 63.57 on turnover of HK$6.O million. Shenzhen's A
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  613 words
    • 361 22 AFP DjWPlndei ♦174-25 SHARE prices closed 2.6 per cent higher yesterday, buoyed by measures announced by the finance ministry to lift the stock market, dealers said. The Weighted Price Index rose 174.25 points to 7,003.87. "Investors were encouraged by the continued measures by the government to prop up the
      AFP  -  361 words
    • Article, Illustration
      742 22 AFP P| Composite Index +0.09 INDONESIAN share prices closed mixed in thin trade yesterday amid concerns over political instability, with a new letter of intent to the International Monetary Fund seen offsetting the falls, dealers said. "The market was lower in the second session but off its low minutes
      AFP  -  742 words
    • Article, Illustration
      784 22 AFP |H| SET Index +IL6O THAI stocks closed up 3.5 per cent on bargain hunting yesterday mainly in banks and chemical stocks amid regional market gains and the weakening US dollar, analysts said. Phillipe (Thailand) Securities analyst Adisak Kammool said sentiment was also given a boost by easing tensions
      AFP  -  784 words
    • 309 22 AFP Manila +33.62 PHILIPPINE share prices rose 2.0 per cent yesterday on speculation surrounding takeover target Philippine Long Distance Telephone Co (PLDT). The Philippine Stock Exchange Index gained 33.62 points to 1,745.60. Turnover reached 732 million shares worth 2.06 billion pesos. PLDT rose 85 pesos to 1,085. AFP Manila
      AFP  -  309 words
    • 398 22 AFP Composite Index +TJI SHARES closed yesterday 1.9 per cent higher with retail investors increasing bargainhunting, bolstered by the recovery of regional markets, dealers said. Foreign investors were mostly sidelined on uncertainty over US rate cuts at the US Federal Open Market Committee's meeting today, dealers said. But, they
      AFP  -  398 words
    • 589 22 AFP CI All Primaries -43 SHARES fell 0.3 per cent yesterday with many taking a cautious stance ahead of the US Federal Open Market Committee meeting. The All Ordinaries Index closed down 6.8 points at 2,674.5. The All Industrials Index finished down 1.6 points at 4,683.8 while the All
      AFP  -  589 words
    • 259 22 AFP +3*87 NEW Zealand stocks closed up 0.2 per cent yesterday on light turnover, keeping a wary eye on US and local interest rates. The NZSE-40 Index was up 3.87 points to 1,998.78 on turnover of NZ572.3 million. Telecom Corp rose seven cents to NZ$B.45. —AFP «mM (0001 AN2
      AFP  -  259 words
    • KUALA LUMPUR STOCK MARKET
      • 8458 23 MOUSTMALS ClMMMf pr**KtS >*** Last Vol Day N»t Cap HH> L— C—Imur Ml 'OOP Mm> In Wl 3)0 170 Ajinomoto 269 9 2 269 268 14.8 109.0 148 35 Angkasa 68 5 I 76 69 67.5 101.0 290 123 Apollo Food Hlg 212 -4 5 212 212 7.4 84.8 388
        8,458 words
      • 369 23 AFP Q Composite Index -3.06 MALAYSIAN share prices closed 0.7 per cent lower yesterday in quiet trading, with profit-taking outpacing sporadic buying by institutional funds, dealers said. The Composite Index finished at 462.02 points, down 3.06 points. The Second Board Index lost 2.15 points to 132.19.
        AFP  -  369 words
    • WARRANTS & OPTIONS
      • 2513 24 BONOS, LOANS ft WARRANTS 1996 L "t Vol Day Last Ouota Ayg High Law St no Company Sola *or- COOO) High Low Bvyor SaHor Prlca 20.5 3 3160 A Acar ******1 USS 12 -I 69 13.5 12 12 13 95 4.5 3164 Acma ******4 16 unch 403 17 16 15.5
        2,513 words
      • 200 24  -  WARRANT WATCH -Ry\ R Sivanithy AFTER a recent flurry of interest, the activity in several second-line warrants has died off. But it's clear that the market still has a fair bit of life left in it. so perhaps a look for value among some
        200 words
      • 218 24 HON6KONO STOCKS Of Cf I9M Last Vol On LutOwtt D«v D«v VM Nat M Cap High Law St— Cmmm' tata COOP) HlgH L— »vyof »a««r Cw P/C SW 400 250 5123 COL (2000) HK 400 10 2.4 2.0 20.5 7744.7 5124 CattMy Pac20c HK_720 265.0 2.1 7A 6.0
        218 words
    • 6904 25 Transaction date: Nov 1G j or Gf mm Mt Last V«i Day Last Ouata Mv Otv TM Hat Caa Avg m» Law «Mte CMHK SH« COOP) H*gh Law Buyr »a«ar H C'tt P/t jmH Prtca MULTMMKJSTWY 142 49.5 ml lOOOAcmaSOc 77 unch 576 79
      6,904 words
    • 1233 25 Cr Cr M Wt 1998 Last Vol Oar Kit Ouoto Ot* Mv YM Not Ca* Avq HI# Low »tNo Company S<1< COOOI Ht0k L— l»T«r «—r Cvr Pft fri* Ww MANUfACTUtMO 243 30 0 2049 AS Auto Kk tlO -1 1128 1M 108 110 111 15.0N 7.0 14 10.4
      1,233 words
    • 340 26 imMismmtmm Stacks Volume Keppel landSOc 18,242,000 DBS Land 16,452,000 Wing Tai 25c 15,457,000 Hotel Prop 9,435,000 Keppel Corp 6,868,000 SingTel 15c 6,365,000 SembCorpi 25c 5,692,000 *TanChonglnt50c 5,664,000 UIC 5,211,000 STEngglOc 5,066,000 Stocks J DBS Land 32,297,377 Keppel Land50c 31,062.285 Keppel Corp 23,817,429 City Dev 50c 23,683,584
      340 words
    • 643 26  -  STOCK MARKET COMMENTARY Dip in interbank rates, hopes of Fed rate cut and positive news abont local condominium sales among factors cited Hy R Sivanithy [SINGAPORE] A slight dip in interbank rates, expectations of a US interest rate cut and positive news
      643 words
    • ON THE GRAPEVINE
      • 83 26 WHEN asked to comment on the issue of wage cuts, the public relations officer of an insurance company said it would "of course want to follow the government's recommended wage cuts in spirit and in letter". But she quickly retracted the politically correct response when told her
        83 words
      • 47 26 US survey by credit card company Visa has thrown up some interesting habits of Internet shoppers. Sixty per cent of Internet shoppers surveyed have shopped in their pajamas, 84 per cent have done it barefoot and 36 per cent have shopped as they ate.
        47 words
      • 51 26 WE know shopping centres are all trying to endear themselves to cash-strapped consumers. Especially when more malls are opening. But is this ardent wooing or what—the huge banner hanging over Plaza Singapura reads: "Opens Dec 4. P.S. I Love You", complete with a big painted
        51 words
      • 52 26 FOOL's Garden, the German pop group that came up with that silly but successful ditty called Lemon Tree, will be performing at the Botanic Gardens on Nov 22. One of the co-sponsors of the concert is Daimler-Benz. Strange that a car maker would want to be associated
        52 words
      • 44 26 A GOVERNMENT agency produced a bright yellow computer mousepad, complete with swaying green palm trees, which read: "Be Singapore's frontline ambassador to the world". You'd guess it's Singapore Tourism Board, right? Well, it turned out to be the Singapore Immigration Department.
        44 words
      • 103 26 MORGAN Stanley Asset Management finally has a new head of its Asian operations headquartered in Singapore. According to the Nov 2 issue of Global Fund News, Candice Koederitz has been appointed regional chief executive officer. Her appointment follows the departure of Chin Ean Wah, who quit
        103 words
    • Article, Illustration
      75 26  -  IMC by Shiv Taneja SINGAPORE Telecom closed three cents higher yesterday at $2.64 on a volume of 6.36 million shares, compared with tfs 10-day traded average of 7.4 million shares. In the near tanti, the counter is expected to trade sideways, with a slight upwjrd bias. This is
      75 words
  • Page 17 Advertisements
    • 214 17 .o Wynton Marsalis, the most acclaimed jazz and composer of his generation, lJt as well as distinguished classical performer. Recipient of the Grand Prix du Disque of Award-Netherlands, Honorary Doctorates, and 1997 Pulitzer Music: The first ever for f maker some the acclaimed timepieces in history, holds 99 patents, over
      214 words

  • Page 18 Advertisements
    • 124 18 ■jL Tl he Hong Kong Trade Development Council makes it easy for you to find the right business partner. Whether sourcing or selling products or services. Hong Kong's business networks are unbeatable in Asia-Pacific. With over 100,000 Hong Kong companies on our database, the HK TDC helps you target potential
      124 words
    • 63 18 Anniv </'romotion Wtast »> EXTRA VALUE 0% AA I STEAMBOAT *3 XII dishes ayailaole PER DISH ONLY vV• W ,or selection Available for Supper: 10pm 4om Lunch: Sunday Public Holidays 2tf^ n# for all dishes, seafood, beverages dessert lISCIDI T after lOpm 1 For dining-in only. Not ovoiloble for steamboat,
      63 words

  • Page 19 Advertisements
    • 188 19 BBHHI Hali o/7= m -•-»mtm* ir*** JH mHI ga«WB» r I s j i >~* I r %;>| *lNsl v 4*/ iJg*sp™lgy ymzsiSm E 9 f i*< < :J w Tr V". J The world's oldest watch manufacturer Geneva, since 1755 Authorised Retailers Cortina Watch Tel: 339 9185 Roy Eastern
      188 words

  • Page 20 Advertisements
    • 89 20 We provide consultancy services on offshore structures, shelf companies and incorporations in ALL jurisdictions including British Virgin Islands Mauritius Cayman Islands Hongkong Bahamas -Samoa Full nominee, management, corporate secretarial and professional administration services are available. We specialize in offshore trusts, offshore banks, and captive insurance companies for qualified applicants. For
      89 words
    • 20 20 The Straits Times CLASSIFIED Where buyers and sellers meet Find the perfect item at a garage sale. I CATS. I
      20 words




  • Page 24 Advertisements
    • 57 24 n ITF campaign vessel highlights unsavoury side of shipping cm nrZHZ HMtMM r "*—r "T' r »«W 1 m ■J*—"y* »rnn»iiii i»».»«». n4Mfw.a»aiart y **k^trr^ ItaoMvw mmm«or»«** a «r*o <f «W mmmUr »«r» mT 7'*'* mmtmmiS'to ST? ufy,? T** ravxw•»«*« »txai*Crrrr»- 2!SM HI urJJ^^^STSfSSSJS r^u.^rsssts f ■-■■111 MZImIM^I r—<y#>**"—«* if
      57 words
    • 43 24 to' Or make your dream a reality with a piece of realty. Whether you're in the market for a luxurious bungalow or an affordable apartment, you can find it easily in the Classified. Move on to the properties Section, Classifications 400 to 569.
      43 words

  • Page 25 Advertisements
    • 77 25 With the cirde the earth with A sense of freedom offered by Blancpain's EXCLUSIVELY AVAILABLE AT: SINGAPORE: Cortina Watch Centre Pte Ltd Raffles Qty #01-36 Tel: *****85 Lucky Plaza #01-32 Tel: *****68 Millema Walk #01-63/64 Tel: *****28 Paragon #01-13 Tel: *****84. MALAYSIA: Le Cortina Watch Sdn Bhd (*****-H) G32 K.L.
      77 words

  • Page 26 Advertisements
    • 672 26 BUSINESS ()t tCf'S To tidxertisc call toll-tree 1800-741 1883 A 50% interest in a long established family business is offered for sale at RM2.5 Million. Included is the option to purchase control in 5 years' time. The business is in the import from U.K. and sole distribution in Malaysia of
      672 words
    • 77 26 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 topping-out ceremony. It's another chance
      77 words

  • SHIPPING TIMES
    • 328 27 Bridge News Reuters ACTIVITY was fairly lively in the Atlantic with several fixtures emerging. But brokers were split over the direction of the market with an improved timecharter rate seen for transatlantic business while a lower rate was reported to have been agreed on voyage business from the
      Bridge News; Reuters  -  328 words
    • 291 27 SES '000 ■nw st m CWTDMrttuHon_0.44 -0.01 66 ChuanHup 0.52 ♦0.01 197 Cosco Investment 0.55 *0.045 15 Freight Links 0.18 unch 907 G8 Holdings 0.365 -0.015 52 Hal Sun Hup 0.445 *0.025 709 Hitachi Zosen 0.67 -0.035 1059 IMC Holdings HK 5.60 Jeya Holdings 0.54 *0.01 85 Jurong
      291 words
    • 550 27  -  Parent NOL plans to raise logistics business to 50% of revenue in 2 years By] Marcus Hand [SINGAPORE] APL Logistics units have shown good growth this year, as the process of integrating the various units continues some 11 months after APL's buyout by Singapore's
      550 words
    • 86 27 [NEW YORK] Carnival Cruise Lines' new cruise ship, ttye MS Paradise, makes its US debut following a trans-Atlantic voyage from its Helsinki, Finland, shipyard. The 855-foot, 2,040-passenger Super Liner is the cruise industry's first totally "No Smoking" vessel, according to the Miami-based company. No use of tobacco products
      AFP  -  86 words
    • 479 27 Reuters [SYDNEY] A week-long AsiaPacific campaign against "Ships of Shame" which mistreat crew, cheat them of wages and sometimes abandon them at sea began yesterday with maritime unionists targeting hundreds of flag of convenience ships. The International Transport Workers' Federation (ITF)
      Reuters  -  479 words
    • PORT Shots
      • 82 27 AFP [JAKARTA] Forty people were missing after their ferry sank off the Indonesian Island of Sulawesi, the Kompas daily reported. The RahmatßuchorU a ferry plying the route linking Bajoe in South Sulawesi and Kolaka in Southeast Sulawesi, across Bone Bay, went down near the
        AFP  -  82 words
      • 73 27 Norwegian owner Mosvold Shipping Ltd says three of its VLCCs are due for dry-docking and sth Special Survey during the first half of 1999. It adds: "The decision as to whether or not to put the vessels through sth Special Survey will be taken on a
        73 words
      • 43 27 The International Association of Independent Tanker Owners' (Intertanko) Short Sea Tanker Group has highlighted "the persistent lack of adequate shore reception facilities in northern Europe". It claimed many European nations have not fulfilled their obligation to provide adequate reception facilities.
        43 words
    • 156 27 [SANTOS] Brasil SA, the new private sector operator of the Tecon 1 terminal at Santos, has signed an IT systems contract with HPC/Hamburg Port Consulting GmbH to use HPC's Container Terminal Information System as its core operational software. The CTIS, which will be in
      156 words
    • 917 28  -  UNITED AIRLINES Employee-owned airline prepares for lean times without easy option of resorting to cutting jobs to save money By. Frank Swoboda The Washington Post THEY are talking about getting ready for the next recession at United Airlines, but no one in management is talking
      The Washington Post; FILE PHOTO  -  917 words
    • 244 28 PAGE Dongnama 3 ACL 6 ECL 5 ANL 3 Evergreen 6 9 Accord 8 foorK Sun 8 Appen ship 5 C Link 4 Austral 8 Cemartrans 8 Balaji Shpg 4 HaiSunHup 8 BSA 7 Hangli 7 B'tang Mas 8 Hanjin 3 CCNI 7 Heung-A 7 CMA 8
      244 words
    • 20245 35 THEBUSINESSTIMES THEBUSINESSTIMES EXPORT ETA ETA Advertiser Vnvana I rri rr* k; I'* J-'* *<»*«"•' ve V °Y»<>« Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Oest n Name Name Number Number sin Destn Name Name Number Number To ABIDJAN (ABJ) 2003 Cote D'lvoire J°„ 1 NE MS /44n
      20,245 words
    • SHIPS IN PORT
      • 737 39 Vessel Voy No Berth Arrival Departure Jur o*q M Adityaprakas 11/98 J14 alongside 1911/0900 Auka Seraya 4598 J03 alongside I6.T1/2000 BrigM s»» UC80 J23 alongside 1811/2359 •"top I 15/98 J03 dionqside *11/2300 Bt Bunga Ind *****8 J01 alongside 17.11/0800 St Pai NO795 *****8 J01 alongside 16.11/2000 Bt Pu
        737 words
      • 1818 39 RECEIVING OF EXPORT FCl CONTAINERS AND LCL CARGO Bookinq/Bilanct Rstls h 'P Voy No Etb/Btr Period From To From Ac. N.H.KUS 0188 17/2100 W 16/1500 16/1651 16/1900 IS >6/1500 I*/1651 16/1900 639$ 18/1800 U 16/1500 16/1659 16/1900 11 16/1500 16/1659 16/1900 2A 16/1700 17/0651 17/0100 21 16/1700 17/0651
        1,818 words
      • 213 39 Nov 22 Mexico: Revolution Day. Nov 23 Japan: Labour Thanksgiving Day. Nov 26 United States: Thanskgiving Day. Nov 30 Philippines: Bontacio Day. Deo 8 Austria: Ammuculate Conception Dec 12 Mexico: Virgin of Guadalupe (optional). Dec 23 Japan: Emperor's Birthday New Year Holiday. Dec 24 Finland: Christmas Eve. Deo
        213 words
      • 925 39 THIS report, compiled by Cockett Marine 0U Ltd. shows price ranges in US dollars instead of single price* for a more comprehensive description of the market Prices shown are based on average-sued stem Market movements are indicated The Cockett Bun ker Price Index chance and the
        925 words
      • 405 39 No. 12 ■> Wlta M3.2 0.7 17.4 OK) 59 0 05 S2L!£ P«Mlty Water BtsMat Art ftrnkkm Soflwont Mo above E25 1 0 4 0 0 0 %M/M M0 Ave 907.5 0J 157 0.06 30 0 02 »■">»■»• g£«S "V °Q 8 "J M 0 0"
        405 words
    • AIR & LAND TRANSPORT NEWS
      • 442 40 AQtSHOW CHINA >98 In next 20 years, its air traffic will grow 8%, higher than the world's 5%: Airbus Reuters [ZHUHAI, China) Airbus Industrie has predicted that China's air traffic growth would outpace the world's growth in the next 20 years and
        Reuters; AFP  -  442 words
      • 307 40 Reuters [SHANGHAI] Passengers of an Air China plane hijacked to Taiwan last month have demanded compensation from the airline, the Wenhui Daily said yesterday. Twenty-four passengers complained in a letter to Air China that the airline failed to send representatives
        Reuters  -  307 words
      • 235 40 AFX-Asia [HONGKONG] Cathay Pacific Airways Ltd is willing to share management control of Philippine Airlines Ltd with PAL's majority shareholder Lucio Tan in its bid to make a significant investment in the carrier. "There is not going to be
        AFX-Asia  -  235 words
      • 427 40  -  By Christopher Tan [SINGAPOREI BMW Ag is due to enter unchartered territory late next year when it introduces the X 5 its first sport-utility vehicle in its 70year history. The four-wheel-drive, fiveseater will be capable of a top speed of well
        427 words
      • 1827 40 CITY FU6WT tW FUWtT CTB SO2001 0935 IH6373 2355 AdaiehSa BA7381 1930 BA7382 2050 LH778 1650 S026 2355 0F81 1930 0F82 2050 W«7I 1650 LH779 2359 AN8229 2230 ****** 1650 N***** 2359 LH6380 2230 8A7306 1840 S***** 2359 MM 2230 —0 Amsterdam KL0643 0540 GA972 0040
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  • Page 27 Advertisements
    • 22 27 United Airlines owners say 'no' to layoffs Employee-owned airline prepares for lean times without option of resorting to cutting jobs. Page 2
      22 words
    • 834 27 China's air traffic growth to outpace world average In next 20 years, its air traffic will grow 8%, higher than the world's 5%: Airbus BackPage has joined Singa- The Maritime and Port Authority pore Airlines as of Singapore (MPA) is for the first divisional vice- time organising a seminar on
      834 words

  • Page 28 Advertisements
    • 767 28 I IMPORt 1 ISUPER SHUTTLE EXPRESS j| IQUtF KARACHI EXPRESS (OKX) VKS{I W*Aol lfi» VKSa VOY JEA MM lAN M 0 «AR COL PtG T5~ ooammKONG nwsu m/ii 22/11 pmhduoydwmj sst m/ii m/ii m/ii m/ii 13/11 17/11 li/i 7 n/u" CHINA 04/11 NYR VIRGO 141 11/11 13/11 13/11 IS/11 20/11
      767 words
    • 673 28 Lmes services represented JiNw f 4 by Members of the Heg.s.ry of Carders Accredited Shipping Agents VMHP Association \Ofsi_3Z Sngapore Shipping Association CONTAINERS/CONVENTIONAL CARGO FROM PORT KLANG/SINGAPORE JAKARTA ETAPKL ETA SIN ETA MALE PrtaressLUy V 9798 87/11 t&U lfi/12 Princess Lily VMM 25/12 H/12 93/91 LILY MARINE SERVICES SINGAPORE Pkoie
      673 words

  • Page 29 Advertisements
    • 1038 29 SAX SERVICE (DIRECT) Vgsa VOY LAX I OOK DAI HOU |CH (Dt MEM lAR MYC tfIJAM 0071 2S/11 10/12 15/12 15/12 16/12 15/12 16/1? 16/12 17/12 17/12 AfIGAWtT 0071 02/12 17/12 22/12 22/12 23/12 22/12 23/12 23/12 24/12 24/12 Aftsnwa 0071 09/12 24/12 29/12 29/12 01/12 29/12 01/12 01/12 02/12
      1,038 words
    • 1946 29 (g) HANJIN SHIPPING HANJIN SHIPPING (S) PTEITO hnp hoop com BOOKING 3760?3S 237 SALES *****24 731 OOCUWNI *****71 774 OPCIUTIOttS *****41 757 MAIM U* *****55 FAX 777W60 (I HO **********0 M |TO NW USA CANADA I' USA CANADA* It* vsi/vor I. MM SM uni haul/voy su nw DO poi r~oi
      1,946 words
    • 590 29 VESSEL W_ _S|N_ PKG VOT SIN HKG KEI USK PITS [ttSSEL I VOY j SW4 PK6 IttSSa WY j SIN I JRT I KMTC KEELUNC HIS 09/11 10/11 IIIN 11/11 IS/11 17/11 20/11 21/11 I I T Q/,11 I jjjSS |ljj/jj| )}/l| I HYUNDAI SWINTEI 01SS 13/11 20/11 22/11 24/11
      590 words

  • Page 30 Advertisements
    • 1409 30 DSR-SCNATOR UNES TO UK/CONTINENT TO MEDITERRANEAN/CANADA VtSStl WY SW LEW HW W HW w» M «WL VOY *sDT" GIT SPE FOS VIC MTU MAKfIJJJtttJA WNM7 1711 ,4 ,2 12 Mlf Itl| PttfßMO SENATOR WMHO 1111 Ml 2 Ml 2 Ml 2 1212 Ul2 11,2 1112 1212 13,2 MMUIOOUN WMHI H.ll
      1,409 words
    • 1107 30 Am MAC-NELS S PORE M'Slfl I Carrier: MN CONTR LINES, INC p. gudang: (07) *****26 1 l\-/ J cm NO: **********0 C SIBU: (064) *****9 MANILA: (632) *****24 PENANG: (04) *****36 BANGKOK: (662) *****57 SURABAYA- (31) *****0 P. KELANG: (03) *****77 JKT: (21) *****07 MON: (61) *****3 KUCHING (062) *****1-3
      1,107 words
    • 668 30 »IJESSELTON LINE TIL* *****56 FAXs *****12 1 MUARA LABUAN VKsa vot no n» vissa vor no eta SPORE MUARA SPORE IM (ASAKA JNM-37 VI7E/90 SID 11/11 CARAKA MH-33 VI7E/90 SLD If/II STRAITS HOPE V3IE/W 10/11 22/11 STRAITS HOPE V3IE/W U/11 25/11 CARAKA JNB-3? VISE/94 2S/11 »/ll (ARAKA Ml 11-32 VIH/W
      668 words

  • Page 31 Advertisements
    • 805 31 I VESSEL VOV SIN SIP PKO PEN PQB DUB SHJ BA BIK IRAN MATIN PJL 1319 16/11 26/11 26/11 27/11 20/11 IRAN HESABI PJL 1320 24/11 06/12 04/12 06/12 06/12 IRAN BAKERI PJL 1321 03/12 13/12 12/12 14/12 16/12 IRAN TAKHTt 00/12 19/12 18/12 20/12 22/12 IRAN SATTARI 14/12 24/12
      805 words
    • 1873 31 TO ISRAEL H IN 13 DAYS EVERY THURSDAY J I 6 SHENTON WAY TIL 226 1900 FAX: *****0* OUTWARD (l/L) *****02 iOHORE OFFICE; I m"D #,7 MMS, LDG SAUS/WGS *****57/60 INWARD OCPT (D/ 0) *****85 COSTAR AGENCIES (M) SDN BHD :__42osR2s__TELjj?-07-3S ***** FAX: 02-07-*****70 VSIWY |SGP HUG SHA XIA NBC
      1,873 words
    • 687 31 I t EASTERN CAR UNER, LTD. 'SXS."?" |E KL (SINGAPORE) TO lIP JSISSt I SPECIALIZE IN RORO HEAVY LIFT UPTO 450 TONS KL (SINGAPORE) PTE LID LOAD NG FOR PORT KLANG/JAKARTA BATANGAS/MANILA/KEELUNG MV "ORIENT ULAC" V.I6A MV "OCEAN LEO" V.19 ETA SIN 16/11/98 ETA PKH7/11/98 ETA SIN 18/11/98 ETA BTG
      687 words

  • Page 32 Advertisements
    • 1397 32 Europe/uk/scandinavia/finland/russia niumt aw no? ra ?n HBG IHP ZEt IHV LHW P RDM ANW HBG nL SGP I DUDFMRWoII M?I I®'" "2* I* 12 14/12 15/12 I GAINING RE 065 25/10 26/10 20/10 21/11 muerv rw r2£f n« J £l\ J™? VH 2 21/12 22/12 E «"«OWN RC-031 29/10 31/10
      1,397 words
    • 1136 32 ADVANCE CONTAINER LINES (PTE) LTD i#V I 140 Cecil Street, #12-00, PIL Building. Singapore 06^540 LI TEL: FAX *****19, TELEX RS ***** ACL PL CR NO. **********0E OPERATIONS: *****60 *****05 BANGKOK f JAKARTA (Weakly 5 Slgs PAT/2 Slgi ICH/1 Slg >Wt) (5 Seillim/Wtrt) VESSEL VOY SM BKK VESSEL VOY f
      1,136 words
    • 629 32 NANTAI LINE FULLY CONTAINERISED SERVICE TO MAURITIUS SOUTH AFRICA VESSEL VOT SIN KU DUB JNI CFT Ml GOLDEN DRAGON VOOBS 21/11 30/11 04/12 07/12 M/ 12 NANTAI PRINCESS VO2SS 29/11 14/12 17/12 11/12 NANTAI QUEEN VO3IS 09/12 ~j»7T7" 22/12 2S/12 It/if W/jT NANTAI DRAGON VOIOS 19/12 21/12 01/01 04/01 OS/01
      629 words

  • Page 33 Advertisements
    • 501 33 MMK MYANMA pHBk FIVE STAR LINE W (Myanmar National Lin*) v Loading for Yongon (Rangoon) VESSEI VOY SIN PKI KN PGU PINYA IS/ SID SITTWE 83W SLD Malaysia agents: ioustead SHIPPING AGENCIES KUL TEL (03)*****00 PKI: TEL (03) 376*101 PIN: TEL (04)*****02 PGU: TEL (07)*****21/4 BANK LINE (A tervite of
      501 words
    • 1569 33 HYUNDAI MERCHANT MARINE CO., LTD. [VESSEL VOY rsml SOU|LEH|RTM|ANT|HAM|BRV| Ffl [VRSa VOY SOU LEH HTM AWT HAW MV FB I HY BARON 316W 19/11 07/12 12/12 09/13 10/12 NOIKIS OOSI 31/10 30/10 2S/10 27/10 TT/TT NOHOUn 010W 20/11 12/12 11/12 06/12 08/12 ELBE SAW 26/10 31/10 28/10 29/10 19/11 HY
      1,569 words
    • 983 33 ®L ncyvwegon specofced outocornan ©§>®3® Wilhelmsen Lines TO NORTH AND LATIN AMERICA "RORO HEAYYUFT SERVICE" I VESSEL VOT RAMP HEIGHT SIN LAX I CRI I MIA [SAV I lAL I ORF I NYC I NEW I MO» ITARONGA FS22 400 Tors 6.3 M IMPORT 10/12 19/12 22/12 24/12 "267TT iTJW
      983 words

  • Page 34 Advertisements
    • 894 34 BANGKOK/ MAP TA PHUT/ LAEM CHABAMO JAKARTA/PAN JANQ VESSEL VOY SIN BKK MTP LCH~ VESSEL VOY SIN JKT PJN CHANA BHUM" 44N In Pt 20/11 ANRO GOWA' 059 In Pt 21/11 XETHA BHUM 259N In Pt 21/11 20/11 THANA BHUM 313S 18/11 21/11 NANTA BHUM" 420N 18/11 21/11 22/11 GURU
      894 words
    • 571 34 INDONESIA NATIONAL LINE TO EUROPE EXPRESS SEMI-CONTAINERISED SERVICE VU VOT p'rwi" I *'Df/t of |m >u>c hum* mrw»p vtssit I ii/» w/n |n/u own os/ti TO AUSTRALIA FULL CONTAINER SERVICE Wi I Wttl-fgfi- Mliillllt hit m MM <un m msuwi us if/n 21/11 »/ii <i/n oi/\i iq/i? u/u powowismw m
      571 words
    • 992 34 VESSELS VOY SIN PKL MIA LEH RTM HAM ZEE SOT 1 VN-LE D 6 VELA N2BW 18/11 16/11 30/11 07/12 Otv 12 09/12 11/12 12/12 VILLE DE SHANGHAI H2BW 24/11 25/11 07/12 14/12 15/12 16/12 il/ii 19/12 VILLE D'OfttON Y2BW 01/12 02/12 14/12 21/12 22/12 23/12 —25/12 am VILLE DE
      992 words
    • 26 34 CONVENTIONAL SERVICE 17 NOV LOADING FOR DUBAI/DMM/KWT NOV LOADINO FOR CALCUTTA 23 NOV LOADINO FOR CNfNNAI For Bookings please call GANI RAJ I AU TEL: *****14
      26 words

  • Page 35 Advertisements
    • 53 35 ®New Service to Middle East MEXICAN UNE f TRANSPORTACION MARITIME MEXICANA. SA de CV. ill i i a is Now with Wan Hai lines Ben Line Agencies on Page 8 PageS/ WW New Service to Calcutta/Haldia direct service to Calcutta QjiJ? Shipping SAMUDERA SHIPPING LINE Page 12 (Mon/Wed/Fri) Pa g
      53 words


  • Page 37 Advertisements
    • 44 37 —WmJ (Retrieve more schedules!) Press "1" Select the port and key in the four digit code eg: To New York (NYC) 2275 Key in your fax number I your phone number Another innovative service offered by ctcb^ 1 he document will be SHIPPING TIMES
      44 words

  • Page 38 Advertisements
    • 139 38 f -N mmmamm free Rpdder Enquiry Spfvicp cut out and Fax to: 65 *****29 Need HELP or INFORMATION on the following? (please tick relevant boxes) SHIPPING SERVICES Port of Origin: Cargo Type: Cargo Ready by: Port of Destination: Cargo Volume: _Special Requirements: ADVERTISER:PRODUCTS/SERVICES Saw an advertisement in Shipping Times of
      139 words

  • Page 39 Miscellaneous
    • 110 39 MMBT* m a* v w LEGEND R Thunderstorm Temper oture e^ 7 Shower Weother Wmd direction with speed m knots e Rom \^J Cloudy Sky Wove height Serfoce »W* ere mdicoted by arrow, which fly with the wind (1) M „d. [olm uhwU|m|<s|M I— On« tt>M triongt« repre*«nn 50 knot*
      110 words

  • Page 40 Advertisements
    • 164 40 Business Centre to shipping services and products. Around-the-clock. Seven days a week. Call 740-6000 S1 Press 1 key in Document Code Key in fax number Enter your phone number I—^mSg^Bgg f $'(*RLPAsia9B iivi po IMBH IjJllPPlNu I I VI KS ■LI 11 HM H ***** rl fl ffi H ram-Ki
      164 words