The Business Times, 11 September 1999
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1999-09-11
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The Business Times
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Title Section14 1999-09-11 1 THE BUSINESS TIMES MITA (P) 046/12/98 85c SINGAPORE Internet- http://business-times.asial.com.sg/ SATURDAY, SEPTEMBER 11, 199914 words
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Article43 1999-09-11 1 QSu7(+5J&) FWSOBQ PDTDIES NIKKEI 17.711.W HAM) SENG 11,***** >t# SET INDEX ,,Ail JAKARTA COUP _J*m ♦Kit MANILA COUP _1*U4 MH TAIPH WF! 84«Ui—+«M4 SEOUL COMP MLM L« CLSA CHINA B WSJ0 1185 ADSTALLOID 3.MLI A1 g Nom EST Omm DOWiiUr 1U»J743 words
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Article49 1999-09-11 1 F08EX BATES Z tUT tm—;i444 im UI7 BAHT MM CM EUPIAH 8JH—M81 at mm mm mm urn 3IN0AP0RP ,,*1.#) KOALA UJMPVB 7* annua* «m BAMHDK IMI MANILA ILI BONG HONG wmZ «J7 SYDNEY ■>', nmm > r ttift. at* lift LONDON IHWYOME .'Vw'ftM 'Amrap aft# hate "Vta* C«Mni tuk49 words
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590 1999-09-11 1 Siow Li Sen - PROPERTY MARKET PUTS 'GHOST MONTH' REHDID Bank sweetens loan package to coincide with developers' launches By\ Siow Li Sen [SINGAPORE! With the "hungry ghosts" back to where they belong, OCBC Bank is blitzing the housing loan market with a relaunch590 words
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573 1999-09-11 1 Corinne Kerk - 'Let the momentum pick up first'is one such advice By i Corinne Kerk [SINGAPORE] The Hungry Ghost Month Is just over and the return of property launches this weekend is expected to bring healthy results, but some consultancies are advising their clients to573 words
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706 1999-09-11 1 Tough battle as currency players bet on economic recovery Bloomberg, Reuters, AFP. AP [TOKYO] FearfUl that a rising currency will derail the country's tentative economic recovery, the Japanese central bank leapt into the market yesterday and sent the yen plunging fromBloomberg,; Reuters,; AFP.; AP - 706 words
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1060 1999-09-11 1 Shoeb Kagda, Leon Hadar - Jakarta stocks np 4J%; ropiah rises to 8,250 against US$ From Shoeb Kagda, Leon Hadar INDONESIA'S powerful military may have seized the initiative fTom President BJ Habibie over the crisis in East Timor but talk of a bloodless coup is unwarranted,1,060 words
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Page 1 Advertisements
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Advertisement127 1999-09-11 1 gg—j Simex has launched a Singapore dollar Interest rate fixtures contract, Its last contract tor the trading pit and tor the exchange in its current 1 entity, P*a 'V USrecnltwßtku AIA Singapore has been suspended by the ipJKg Monetary Authority of Singapore from recruiting new agents for six months, industry127 words
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Advertisement13 1999-09-11 1 B Thai economy Preliminary estimates point to robust second quarter growth Pg 513 words
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Advertisement223 1999-09-11 1 More reports Investing in Indonesia? ■Pfl4 The cost of diplomatic creep in Timor ■Pg 4 OCBC banks on quality customer service, Pg 11 mSKm, mn^Hn RAINBOW FLY-BACK Cass and bracelet In steel. Equipped with the legendary ZENITH EL PRIMERO movement, the only automatic chronography movement to beat at 36'000 alt223 words
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SINGAPORE AT HOME & ABROAD
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Article, Illustration357 1999-09-11 2 Siow Li Sen - New contract is last for trading pit; Globex Alliance ready next year By I Siow Li Sen THE Singapore International Monetary Exchange (Simex) yesterday launched a Singapore dollar interest rate futures contract, its last contract for the trading pit and for the exchange inSIEW YAW HOONG - 357 words
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285 1999-09-11 2 Wong Wei Kong - Fixed-rate coupon of 5.07% a year payable semi-annually By' Wong Wei Kong THE Housing and Development Board (HDB) yesterday launched its third bond issue under its $3 billion medium term note (MTN) programme launched in February this year. The $300 million issue of285 words
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308 1999-09-11 2 Wong Wei Kong - By' Wong Wei Kong AIA Singapore, the largest life insurer here, has been suspended by the Monetary Authority of Singapore (MAS) from recruiting new agents for six months, industry sources said. This Is believed to be the first time such a308 words
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380 1999-09-11 2 Surinder Singh - Complex part of Robin Lob project to develop satellite city Froml Surinder Singh in Sydney ROBINA Town Centre Trust, in which Singapore tycoon Robin Loh's Robina Land Corporation has a stake, is selling its Robina Town Centre complex in Queensland for380 words
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541 1999-09-11 2 Narayana Narayana Singapore via Internet - MAILBOX Narayana Narayana Singapore via Internet I REFER to your editorial "Educating shareholders" (BT, Sept 9), which referred to the apparent contradiction between allowing employee share options to be extended and not allowing the same for warrants. You were kind enough to publish recently my541 words
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191 1999-09-11 2 Eric Ang Teck Sin Singapore via Internet - Eric Ang Teck Sin Singapore via Internet I REFER to the article "Govt should have released more land to dampen market" by Wong Kok Hoi (BT, Sept 8). As we can all recall, the government first interfered in the property market in the191 words
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Article109 1999-09-11 2 Denis Distant Singapore via Internet - Denis Distant Singapore via Internet I REFER to the letter "Reward Chuan Hup investors" by Chng Peng Tan (BT, Sept 8) suggesting a more generous attitude towards its shareholders. In particular, he suggested that, in view of its recent profitability, Chuan Hup should make a109 words
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Article447 1999-09-11 2 Michael Phillips Canada via Internet - Michael Phillips Canada via Internet I VISITED your country about five years ago on my way to the Philippines. I was amazed at the cleanliness, beauty and order of the city. It is amazing to me how the "hub" of South-east Asia can display such447 words
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Article, Illustration1011 1999-09-11 3 Yang Razali Kassim - APBCMBETDfG Call for new round of global talks in joint statement, bnt no mention of when and where it would begin By Yang Razali Kassim HALF a score. That's what ministers of the Asia-Pacific Economic Cooperation (Apec) forum countries managed to1,011 words
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Article, Illustration200 1999-09-11 3 Arthur Lee - By, Arthur Lee HIS name is synonymous with the sporting scene in Singapore and he wears a few hats in its promotion. Ng Ser Miang, managing director of Tibs Holdings, chairman of the Singapore Sports Council and also an International Olympic Committee member, changed into his sports attireARTHUR LEE - 200 words
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331 1999-09-11 3 Andrea Tan - World's largest educational publisher investing USsl.sm in S'pore By t Andrea Tan PEARSON Education, the world's biggest educational publisher, will invest about US$l.5 million (552.5 million) here and up to US$lO million in the rest of Asia to meet331 words
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516 1999-09-11 3 Yang Razali Kassim - 7 of grouping's members eventually attend controversial special meeting By Yang Razali Kassim in Auckland WHERE do Singapore and the rest of the Asean countries stand on the delicate issue of the East Timor crisis? That question keeps being asked as the516 words
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246 1999-09-11 3 Economic spinoffs will be huge, says one company head Bloomberg [AUCKLAND] Companies from 21 Asia-Pacific economies are asking heads of government to back plans for a gas pipeline linking Southeast Asia to China and Taiwan, a chief executive involved in the lobbying said yesterday.Bloomberg - 246 words
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Advertisement11 1999-09-11 2 ■•ODAY<g>«-S-*». Janhelaohao mmrnmn' a*ffK Wednesdays Money Matters by Larry Wee TheßusinessTimes11 words
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Advertisement7 1999-09-11 2 CA.T.S. Buy It. Sell It. Find It.7 words
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Page 3 Advertisements
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Advertisement730 1999-09-11 3 O INTERNATIONAL FACTORS (SINGAPORE) LTD (Incorporated in the Republic of Singapore) UNAUDITED HALF YEAR FINANCIAL STATEMENT The Board of Directors of International Factors (Singapore) Lid wishes to announce the following unaudited results of the Group and of the Company for the six months ended 30 June 1999. THE GROUP THE730 words
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CRISIS IN TIMOR
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Article, Illustration1704 1999-09-11 4 Leon Hadar - While the world expects some solid US help for East Timor, Clinton Co are bent on avoiding another Kosovo By] Leon Hadar [WASHINGTON] THE rising chaos in East Timor and the dramatic images of East Timorese being massacred andAFP - 1,704 words
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Article, Illustration462 1999-09-11 4 Bloomberg [HONGKONG] Indonesia's bank restructuring plan is under threat, Moody's Investors Service said, as unrest in East Timor sparks the withdrawal of economic aid and the nation's currency tumbles anew. The US and other nations are threatening to withdraw billions of dollars ofBloomberg; AFP - 462 words
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Article, Illustration498 1999-09-11 4 Louis Beckerling - Bat it will not be plain railing says fond manager By Louis Beckerling [SINGAPORE] With East Timor in flames and a cloud of uncertainty hanging over Indonesia's recovery prospects, investment in that country is once again rated a high-risk affair. But as usual,498 words
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ASIA ON THE MEND
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420 1999-09-11 5 AFP, Reuters [KUALA LUMPUR] The Malaysian stock market is likely to trade downward in the coming days after the headline index fell 0.8 per cent yesterday, dealers said. An institutional dealer with a local brokerage said further selling by foreign investors wouldAFP,; Reuters - 420 words
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Article, Illustration533 1999-09-11 5 Harish Mehta - Bat finance ministry is sceptical and wants agency to look into accuracy From. Harish Mehta in Bangkok THAILAND'S gross domestic product (GDP) is likely to have grown more than 8 per cent in the second quarter of this year, settingREUTERS - 533 words
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427 1999-09-11 5 Deflation and drop in foreign investment are seen as temporary Reuters [BEIJING] The head of the OECD yesterday challenged gloomy sentiment over the Chinese economy, saying deflation and a decrease in foreign investment were temporary and that the economy appeared to be improving. "FromReuters - 427 words
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Article, Illustration45 1999-09-11 5 [HO CHI MINH CITY] A cobbler working at his street-side shop while traffic trundles by yesterday. Ho Chi Minh City, with several hundred thousand immigrants from neighbouring provinces, is known for the large number ofpeople who earn their living on its streets. AFPAFP - 45 words
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160 1999-09-11 5 Reuters [SEOUL] Major foreign securities firms have raised their 1999 growth forecasts for South Korea's gross domestic product (GDP) to the 8 per cent range, the daily Dong-AI Ibo newspaper said yesterday. Quoting state-run Korea International Finance Centre (KIFC), the newspaper said majorReuters - 160 words
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239 1999-09-11 5 He praises Obnchi forjnmpstarting Japanese economy AFP [WASHINGTON] US President Bill Clinton on Thursday hailed news that Japan's economy had grown for the second straight quarter this year, saying it was "a good thing for the world". "They're doing better and I'mAFP - 239 words
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Advertisement20 1999-09-11 5 1 Your week| Y 9 uWe P ubs an<l loun 9 es every Friday in The New Paper Fastads FSJStctOS20 words
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THE REGION
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221 1999-09-11 6 JAKARTA Bloomberg PT Indosat, Indonesia's dominant international phone company, has suspended its finance director Herman Simandjuntak over a 22.5 billion rupiah (554.7 million) corruption scandal. An audit by accounting firm Arthur Andersen found irregularities in the way Mr Simandjuntak handled a 112.7 billion rupiahBloomberg - 221 words
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Article, Illustration667 1999-09-11 6 KUALA LUMPUR Pathologist in Australia reported excessive level of poison in his nrine Reuters MALAYSIA'S jailed former deputy premier Anwar Ibrahim was taken to hospital yesterday after his lawyer said he was believed to have been the target of arsenic poisoning.Reuters; AFP - 667 words
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ASIA Notes
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63 1999-09-11 6 Bridge News [JAKARTA] The Indonesian House afßopr—ontatlvss may summon Justice Minister Muladi to explain about the Bank Bali case, House member Lili Asdjudlrectyasaid yesterday. Bank Bali's former director Rudy Ramli had admitted at a House hearing on Thursday that he never 2 wrote theBridge News - 63 words
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78 1999-09-11 6 Bloomberg [BOMBAY] Videsh Sanchar Nigam Ltd, India's only overseas phone service provider, unveiled a to invest 48.9 billion rupees (5H.79 billion) over the next five years to expand its services and diversify into new businesses. Apart from growth in the oversees long-distance phone serviceBloomberg - 78 words
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74 1999-09-11 6 Bloomberg [SHANGHAI] China yesterday ordered Jardine Insurance Brokers Ltd, a unit of Jardine Lloyd Thompson Group pic, to shut its Beijing representative office for what it called "unauthorised" broking. The move comes in the wake of a nationwide nampaipn to crack down on illegalBloomberg - 74 words
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95 1999-09-11 6 Bloomberg [HONGKONG] Hongkong's anti-graft squad arrested four people, Including a television presenter, for allegedly conspiring with a Macau legislator to defraud Agricultural Bank of China in a HK$5l5 million (Still J million) land deal. The Independent Commission Against Corruption said Agricultural BankBloomberg - 95 words
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207 1999-09-11 6 World Bank arm is just second foreign investor in China's banking system BEIJING Bloomberg INTERNATIONAL Finance Corp, the private lending arm of the World Bank, invested US$22 million (5137.1 million) to obtain a 5 per cent stake in Bank ofBloomberg - 207 words
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Article, Illustration487 1999-09-11 6 KUALA LUMPUR P*M stands by bnmi policy, says target of 30% of economic pie stays Reuters MALAYSIAN Prime Minister Mahathir Mohamad yesterday defended special economic programmes for ethnic Malays, saying the government would rebuild their wealth aftar currency speculators erased 30 yearsReuters; AFP - 487 words
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260 1999-09-11 6 'BEIJING Reuters A'CHINESE court had declared a large state firm bankrupt because It could not repay Its debts, throwing 4,875 people out of work, the offlclad Securities Times reported yesterday. The Wuhan No. 6 cotton plfcnt was pronounced bankrupt by the Wuhan Intermediary People'sReuters - 260 words
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452 1999-09-11 7 TOKYO Six-month curb to stem further losses in investors' assets: FSA official AFP IN another swoop on foreign financial players, Japan suspended Cresvale International Ltd from selling in Tokyo bonds issued by its US parent for six months, officials said yesterday. TheAFP - 452 words
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Article, Illustration588 1999-09-11 7 NEW DELHI Smaller voter turnout raises fears of another unstable coalition govt Bloomberg AS India goes into its second day of voting today, there is concern that yet another shaky coalition may form the government, slowing economic growth. The world's largest democracy hasBloomberg; AFP - 588 words
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512 1999-09-11 7 SEOUL Govt wants to force giants to be less like personal fiefdoms Bloomberg LEE Ik Chi, the 54-year-old head of Hyundai Securities Co, says he was just doing his job when he told underlings to "manage share prices well".Bloomberg - 512 words
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459 1999-09-11 7 SHANGHAI Analysts expects good buying interest in Shong&ng offer Reuters A MAJOR Chinese steel producer said yesterday it would list domestically as Beijing pushed more big state firms onto the stock market. Shougang Corp said its Beijing Shougang Co Ltd wouldReuters - 459 words
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Article, Illustration370 1999-09-11 7 BEIJING AFP AFP CHINA announced for the first time yesterday it had successfully carried out air, ground and naval landing exercises earlier this month in the wake of Taiwan President Lee Teng-hui's assertions of a "state-to-state" relationship with Beijing. The militaryAFP - 370 words
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186 1999-09-11 7 SEOUL Bloomberg THE Korea Asset Management Corp, which is responsible for cleaning up South Korea's weakened banks, said it is inviting bids for the sale of US$B5O million (Ssl.4 billion) of bad loans by Nov 10. The agency, known asBloomberg - 186 words
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Advertisement71 1999-09-11 6 wmmmisfoo3 s> RUT, Stti&OiftflEa &ffiW¥69E#£lt{<l*£, «SgSFjE«*»+, aWAfl*^Wft»m. JS,6&», «#«»##»nira*g?**a};&m. f« ±I##*H#l: &£*lklt± •*i#j**w«mjm®Wl KS^S am ,B* B «fflflSlJSsMsPtffiJxl& Wffl: T*2frSsW e*«BmBSl*«Ml>£&f'J ttkA: g isi #A3ssE.#linAttJin aa-tt, nra r-^«-.sK,iv» .-jem iu*> •IMIBiMHffW WJ V JS ►*g«gig^jßWji» f i j (f) ttjj| i j jwt OK: j j W*S***S: KMfc*¥a«*BFftstt||R|g 47 Hill71 words
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Advertisement21 1999-09-11 7 Lost tiour pet? Try finding it at Classification 821 (Found) of The Straits Times Classified. fa CATS. Buy h. Sdik. Rndlt.21 words
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Advertisement36 1999-09-11 7 Classified First. fawn—i*T v Want to get a laptop? Or simply get computer savvy Log on to the best site: Check The Straits Times Classified First. m i CATS. Buy It sa k- Find It. 136 words
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THE WORLD
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501 1999-09-11 8 WASHINGTON But core PPI down OJ%, painting a mixed picture, say economists Reuters A KEY index of US wholesale inflation rose at a faster than expected pace in August, the government said yesterday in a report which showed sharp gains inReuters - 501 words
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436 1999-09-11 8 ZURICH High unemployment rate due mainly to structural reasons Bloomberg EUROPEAN Central Bank President Wlm Dulsenberg said the outlook for price stability in the 11-nation euro region remains good, though he warned that the ECB will watch wage rises. The centralBloomberg - 436 words
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Article, Illustration47 1999-09-11 8 [STAVANGER, Norway] Norwegian Bjarne Maeland celebrating his 100 th birthday on Wednesday with a tandem-parachute jump, a gift from his friends. He is now also listed in the Guinness Book of Records as the oldest man who ever made a parachute jump. AFPAFP - 47 words
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727 1999-09-11 8 LONDON Many firms seek new identity to boost their appeal Reuters WHAT'S in a name for the world's corporate giants? Just about everything, according to experts who spend their days dreaming up catchy new titles for ageing industrial giants or promoting aReuters - 727 words
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352 1999-09-11 8 BRUSSELS Reuters A DRAFT European Union law would seriously stunt the growth of electronic commerce and could lead to a damaging trade dispute with the United States, industry experts and analysts said. The legislation, if finalised, would allow disgruntled Internet shoppersReuters - 352 words
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445 1999-09-11 8 WASHINGTON Failure to respond on Y2K bug readiness could prove costly FT MORE than SO countries risk having flights to and from the US halted If they fall to persuade International aviation authorities that their computer systems will function at theFT - 445 words
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Article, Illustration597 1999-09-11 8 BUFFALO.New York Reuters FEDERAL Reserve Bank of New York president William McDonough said on Thursday that he expected the longrunning US economic expansion to continue and was not worried that a strengthening Japanese yen would fUel Inflation In the United States. "I don't believeReuters - 597 words
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WORLD Watch
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85 1999-09-11 8 Reuters [MOSCOW] Russia's Fuel and Energy Ministry hat ordered the suspension of all fuel oil exports from Sept 10 to Sept 20 to build up stocks for the winter. "Fuel oil stocks are increasing, but the necessary reserves at utilities have not yet beenReuters - 85 words
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83 1999-09-11 8 Bloomberg [WASHINGTON} Oil shipping companies will get a us Supreme Court hearing aa they try to overturn Washington state regulations that Impose strict staffing and operational rules on tankers that travel off the state's coast The justices yesterday agreed to hear an appealBloomberg - 83 words
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69 1999-09-11 8 Bloomberg [WIESBADEN] German exports rose for a second month in July and the trade surplus grsw to the largest in eight 3 months, suggesting the economy may rebound in coming months. Exports rose 1.4 per cent, after climbing 5 per cent in June, accordingBloomberg - 69 words
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65 1999-09-11 8 AFP [PARIS] France's Socialist Prime Minister Lionel Jospin yesterday highlighted the contradiction between tyremaker Michelin's announcement 0f7,500J0b cuts in > spite of its 17 A per cent first-half profit rise. "When you see simultaneously an announcement of a 20 per cent profit rise andAFP - 65 words
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EXECUTIVE LIFESTYLE
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Article, Illustration780 1999-09-11 9 US OPEN Frenchman Pioline trances Kuerten in nail-biting battle Reuters [NEW YORK] Seventh seed Todd Martin ended the US Open adventure of 95th-rank-ed Czech Slava Dosedel on Thursday night to advance to the semi-finals where he will face opportunistic Frenchman Cedric Pioline. Martin returnedReuters; REUTERS - 780 words
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Article, Illustration1107 1999-09-11 10 PARVATHI NAYAR - Five international writers share their views on the future of books with pabvathx matab PARVATHI NAYAR IS the novel dead? What literary trends will survive into the millennium? Is Singapore alone in grappling with the dominance of English? These questions were posed toSIEW YAW HOONG - 1,107 words
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Page 9 Miscellaneous
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Miscellaneous1928 1999-09-11 9 CRYPTIC CROSSWORD 1 South Africa's current asset ■H"" an abundance of squash (6,5) ggf SH Jp| 9 A pistol for the German cam- j 10 No sound from the horse (5) Wjjk tt| UK IBf 12 Change of stance by group of 15 Jumps without hesitation 19 Sour-tempered airman and1,928 words
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Page 10 Advertisements
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COMPANIES & MARKETS
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Article, Illustration753 1999-09-11 11 Siow Li Sen - From McDonald's to cosmetics chains, bank picks np tips on how to win hearts of retail cestomers By I Siow Li Sen [SINGAPORE] Imagine not having to take a number and getting in line when you go to a bank. Imagine being753 words
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398 1999-09-11 11 Siow Li Sen - By\ Siow Li Sen [SINGAPORE] Overseas Union Bank (OUB) yesterday did some catching up, rising 4.35 per cent to $7.90 from its blended ex-bonus price of $7,571 on the first trading day without any foreign shareholding restriction. The bank, like the other398 words
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540 1999-09-11 11 Al Labita - HOCK LOCK SIEW Al Labita ANALYSTS have always been hard put to explain Globe Telecom's scintillating turnaround story. In two years, the Philippine listed group raked in profits that have defied market trends and forecasts. But beyond the numbers game, much credit for the group's540 words
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170 1999-09-11 11 [SINGAPORE] Senior officials of Telekom Malaysia and United Engineers (M) met with Securities Investors Association of Singapore (SIAS) committee members yesterday to seek feedback on their plan to buy over .Malaysian shares formerly traded on Singapore's Central Limit Order Book (Clob). Under the170 words
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547 1999-09-11 11 Conrad Raj - Red ink expected but final figure almost double consensus forecast Byi Conrad Raj [SINGAPORE] First Capital Corporation yesterday announced a net loss of $146 million for the year to June 30, following extensive provisions for much of its portfolio. In the547 words
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Article, Illustration301 1999-09-11 11 David Boey - Core structural, geotechnic divisions still hit by downturn By. David Boey [SINGAPORE] Mainboard listed specialist engineering and construction group LAM Group Investments stayed in the red for its half-year ended June 30 with net losses of $472,000. This was much301 words
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253 1999-09-11 11 Ruth Wong - From Ruth Wong in Kuala Lumpur MALAYSIAN construction firm L&M Corporation (M), a 25 per cent associate of Singapore's L&M Group Investments, has aborted its 92 million Malaysian ringgit (5540.8 million) plan to buy water treatment firm Southern Water Corporation Sdn253 words
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COMPANIES
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Article, Illustration461 1999-09-11 12 Kenneth James - It has 90% stake in OPH-POInTJq and launches tech fond for startups withs3m By, Kenneth James (SINGAPORE! Orchard Parade Holdings (OPH), the mainboard-listed arm of property developer Far East Organization, broke new ground yesterday with its announcement of461 words
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Article, Illustration389 1999-09-11 12 Soh Tiang Keng - The 2 will also form venture to integrate retail businesses By Soh Tiang Keng [SINGAPORE] In a major move to beef up its retail arm, KLW Holdings, maker of doors and related products, yesterday announced plans to acquire a majority stake inCHRIS LOH - 389 words
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Article122 1999-09-11 12 fTlaiMSme^coreTi As of yesterday, 131 SES-iisted companies had repeated their financial results for the six months ended June 30,1999. They recorded a combined $3,413.5m in group profits, op 88.0% over the same period last year. The total included 10 foreign companies listed here. If they were excluded, total122 words
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248 1999-09-11 12 [SINGAPORE] Boosted by foreign exchange gains and the sale of some of its equity investments, flour-miller Prima Ltd's net profit for the first half ended June 30 jumped more than three times to 125.4 million from a year ago. Turnover248 words
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269 1999-09-11 12 [SINGAPORE] HBM Print yesterday reported a 150 per cent higher interim profit and said it is buying a stake in a Singapore BMW dealer for $4.6 million. In a statement yesterday, the company said it is buying 2.2 million new $1 shares269 words
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399 1999-09-11 12 Harish Mehta - Bidder said to have offered conditions govt cannot accept From Harish Mehta in Bangkok THERE was no word from the Bank of Thailand (BOT) yesterday on the outcome of United Overseas Bank's bid to buy a 75 per cent stake in the399 words
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305 1999-09-11 12 Reuters [PALO ALTO, California) Investors In "dot com" stocks focused on the burgeoning Asian Internet sector on Thursday, sending the stocks of two companies that serve that market up sharply. PacNet, a Singapore-based Internet service provider, was the biggest-gaining stock on theReuters - 305 words
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279 1999-09-11 12 Reuters [KUALA LUMPUR] Malaysia's national car maker Perusahaan Otomobil Nasional Bhd (Proton) is eyeing a 5 per cent market share in India's car market over the next three to five years, the national Bernama news agency reported. The car maker yesterdayReuters - 279 words
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COMPANY Briefs
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48 1999-09-11 12 {SINGAPORE] DBS Land hat again raised its stak* In Sea View Hotel Ltd, buying 21,000 shares through wholly-owned subsidiary DBS Realty. This brings DBS Land's interest in Sea View to 23.16 per cant, or 5.12 million shares. \it r r|;V48 words
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26 1999-09-11 12 [SINGAPORE] Tan Kin Lian, the chief executive officer of NTUC Income Insurance Co-operative, has been appointed director of Intraco Ltd.26 words
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52 1999-09-11 12 -V 9 m [SINGAPORE] Powennatic Data 9ystemswiH make all .9 million extraordinary net gain from the dlapoeal of its 24.4 per cent stake in Pivotal Networking, Inc. Powsrmatksakl the gain win increase net tangible assets per share by Ll cents, but will not affect its earnings52 words
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Article90 1999-09-11 12 [SINGAPORE] Plastic component maker Wepco Ltd yesterday said it returned to the black in the first halt posting 1812,000 in net profit against a loss of $892,000 in the first hatf last year. This was due to better production efficiency and margins, snd the government's cost-cutting90 words
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92 1999-09-11 12 [SINGAPORE] Financial services firm International Factors has returned to profitability in the first half with a 12.9 million net profit, against a f&8 minion net losa a year ago. This was due to better results at its joint ventures. Gross operating income was 20 per92 words
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43 1999-09-11 12 [SINGAPORE] Keppel Tat Lee Bank has appointed Allied Irish Banks (AIB) general manager Walter Coakley as its executive director. The bank also appointed Michael Buckley, a managing director at AlB's capital markets diviskm, as a non-executive director.43 words
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55 1999-09-11 12 [SINGAPORE] Nippecraft Lid's interim net loes has narrowed 11.1 per cent to |l J million. Turnover slid Z8 per cent to $34.5 million. Loss per share was 0.34 cent against 0.39 cent a year ago. Net tangible asset backing per share was 4.8755 words
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Article94 1999-09-11 12 AFX-Asia [KUALA LUMPUR] United Engineers Malaysia Bhd said itls considering infecting certain assets of the company into Central Malaysian Assets Sdn Bhd. UEM said in reply to a KUala Lumpur Stock Exchange query that an announcement will be made when a decision on the mxttmr isAFX-Asia - 94 words
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64 1999-09-11 12 Bernama [KUALA LUMPUR] Camerlin Group Bhd's group pre-tax profit fell 17 per cent to 36.159 million Malaysian ringgit (5116.1 million) for the half-year ended June 30. Group turnover dropped 86 per cent to RM6&337 million. Earnings per-share were 11.6 sen compared with 15.7 senBernama - 64 words
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REGIONAL/INTERNATIONAL COMPANIES
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Article, Illustration564 1999-09-11 13 But fashion house may have to vie with Diego Delia Valle for UK shoemaker NYT [LONDON] There's no stopping the gargantuan appetite of Prada SpA. The Italian fashion house yesterday said it is bidding for 126-year-old British shoemakerNYT; AFP - 564 words
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589 1999-09-11 13 Brokerage also buys stake in e-tr&ding firm Archipelago Bloomberg [NEW YORK] Merrill Lynch Co, the US' biggest brokerage, unveiled two new top stock lists to help aggressive or long-term growth investors pick shares for their portfolios. International Business Machines Corp, Oracle CorpBloomberg - 589 words
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493 1999-09-11 13 100b yen special loss for restructuring expected: report AFP, Bloomberg [TOKYO] Japan's NEC Corp, a century old this year, said yesterday that it would reorganise its business operations, absorbing three defence equipment subsidiaries into one firm. But the electronics giant refused to commentAFP,; Bloomberg - 493 words
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493 1999-09-11 13 Reuters [NEW YORK] Chase Manhattan Corp's stock price fell about 6 per cent on Thursday on concerns third quarterearnings at the nation's No 2 bank might disappoint Wall Street, partly because of lacklustre capital markets results, traders said. Chase shares droppedReuters - 493 words
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333 1999-09-11 13 Warning most serious step short of revoking bank's licence Bloomberg AFP [SEOUL] South Korea's financial watchdog yesterday asked German and Singaporean bank supervision authorities to punish those involved in a case concerning Deutsche Bank AG's Seoul branch, which allegedly carried out irregular deals. Korea'sBloomberg; AFP - 333 words
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Article3560 1999-09-11 14 Nat Mr* m Kap7atLaaM Aug 5 t «U» aua 10.3 IM am TV LY TV L* MltatMrt AugM > UM4 04M 14* OJf {■>■> MM (*M> <M« (CtS) <«•> LaProy Marin* Aug 26 I 1L041 MM LM 444 —————UM Him Sap02 I 1447 042 U« OJO3,560 words
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FINANCE & COMMODITIES
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424 1999-09-11 14 London bankers to share authority over its leading profit centres NYT, Bloomberg TO judge by a sweeping reshuffling of management at Morgan Stanley Dean Witter, Europe is king. Europe has long been a testing ground for senior investment bankers. But the continent, inNYT,; Bloomberg - 424 words
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191 1999-09-11 14 Reuters [SAN FRANCISCO] Charles Schwab Co Inc said Thursday its mutual fund family saw total assets pass the USSIOO-billion (***** billion) mark yesterday, spurred by growth among its equity and money market funds. Schwab, also known for being the largest online broker, said theReuters - 191 words
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Article, Illustration312 1999-09-11 14 Chairman confirms ongoing talks with bank consortium Reuters [BUERGENSTOCK, Switzerland] Liffe chairman Brian Williamson said yesterday that the London derivatives exchange views large investment banks and other major customers as the best potential partners for its joint venture with the Chicago MercantileReuters - 312 words
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Article, Illustration475 1999-09-11 14 Euro/US$: The European single currency was reduced to trade sideways between 1.0517 and 1.0643, for the first four days of the week, after two weeks of being on top of the world. The unit was seen trading around 1.0500 yesterday morning. The break below theSource: - 475 words
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Article217 1999-09-11 15 Daphne Tay, Jardine Fleming - mi—ui Reports ghtgapnra tnAw Daphne Tay, Jardine Fleming THE Singapore stock market closed on a mixed note yesterday as it succumbed to late profit-taking ahead of the weekend and the release of the US August Producer Price Index report last night. The Straits Times Index closed up217 words
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Article169 1999-09-11 15 Cecilia Loh Refco Singapore - MSCI TUwan Itatans Cecilia Loh Refco Singapore THE Simex MSCI Taiwan Stock Index futures rose for the third straight day, ending up 9.20 points on the back of gains in the Nasdaq Index. The underlying Taiwan Weighted Price Index rallied 136.44 points to 8,161.46 on169 words
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278 1999-09-11 15 ENERGY REPORT Reuters [LONDON] Oil prices held steady yesterday having posted significant gains in a week which saw the value of crude broach a 32-month high. Benchmark Brent crude in London shaved a cent to U5522.03 a barrel after racing toReuters - 278 words
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Article317 1999-09-11 15 AFP, Reuters London THE US dollar bounced against the euro but lost much of its overnight gain against the yen in Europe yesterday, as the impact of the Bank of Japan's yen-sell-ing intervention in Tokyo lessened. The dollar rose to its highest level against the euro this monthAFP,; Reuters - 317 words
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Article, Illustration1122 1999-09-11 15 DITERBAME CROSS RATES w [g> rtr >■ m wh mm ymw m mswh m> s$ «r *ts n— m AmtrUta 1963 1178 0.619 1063 1211 5.063 ********** 0.710 7.775 2.478 1221 ********** LIOI IMS 0.*****.*****599 0.400 Offl Cwadi 1038 5-617 0.643 4JT7 1257 5257 29.462 ***** 0.737 1072 2572 L2681,122 words
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Article1631 1999-09-11 15 8IC0M FUTURES Sep it i RUttEB (hteti aowxj it 5_S0p«) RSSiCONTIACTcSc.*/* dm MM OfW Mrt» M» >w IHt Owb) M»mt Oct 99 96.00 96.00 96.50 200 1200 Ho» 99 99.50 ISO 0tc99 102.50 200 JaaAlar 00 ***** 300 AprttaOO BUS W$*00 1W25 rss 3 contract <us«*/m) mm om Lwr ItH1,631 words
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Article, Illustration1378 1999-09-11 16 AFP P Hang Seng ♦LOS HONGKONG shares yesterday held onto sharp gains from the previous session's trade, leaving the key index nudging the psychologically important 14,000 level. The Hang Seng Index inched up just 1.05 points to 13,855.93, after briefly breaking the 14,000 mark during the afternoon session. DealersAFP - 1,378 words
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Article, Illustration529 1999-09-11 16 Reuters, AFP (Q Shenzhen B Index L 56 SHENZHEN'S hard currency B shares closed down yesterday on profit-taking after the previous day's heavy gains driven by market boosting moves from the government. The B Share Index fell 1.55 points, or 1.64 per cent, to 92.53 after hitting an intra-dayReuters,; AFP; Source: Credit Lyonnsis Securities(Asia) Ltd - 529 words
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Article342 1999-09-11 16 AFP HWP Index +138.44 TAIWAN share prices closed 1.7 per cent higher yesterday amid strong buying in lowpriced issues on reports of government support for funds targeting those stocks, dealers said. The Taiwan Stock Exchange Weighted Price Index jumped 136.44 points to 8,161.46, on turnover of NTJ124.76 billion. "TheAFP - 342 words
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Article1824 1999-09-11 16 $«e» tofrllirt* Hmt *h 31 Croup 8.21 0.01 UMy National 10.15 -0.27 A Feeds 4.30 -0.03 A B Port* 3.19 -0.02 Astra2eneca 24.41 -OJ2 Allied Zurich- 7.70 0.01 Angle AmerlcenGold 43.70 unch ASOA Group 2-20 0.01 Bank of Scotland 7.48 0.09 Bert leys '8.06 -an f- 0.081,824 words
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Article1495 1999-09-11 16 AFP n Nikkei 226 *3314» SHARE prices in Tokyo closed 0.2 per cent higher yesterday as late selling by Japanese institutional investors wiped out early gains, brokers said. The Nikkei Average of 225 leading issues on the Tokyo Stock Exchange rose 33.46 points to close at 17,711.02. The TopixAFP - 1,495 words
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KUALA LUMPUR STOCK MARKET
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Article7835 1999-09-11 17 MMJCIMft* CMHMHT prWKtt im Last Vol Day MM Cap WH> Law Clip any Bala -000 Hlgb low P/« >mB 440 2SS AJInomoto 320 unch 1 320 320 20.3 129.7 174 46 Angkasa 102 -3 42 104 100 150 4 404 220 ApoBoFoodHIg 324 4 10 326 324 115 129.6 2947,835 words
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Article, Illustration359 1999-09-11 17 AFP kl Composite Index jjJB MALAYSIAN share prices ended 1.6 per cent lower yesterday due to foreign seUing of blue chips. "Reports citing former deputy premier Anwar Ibrahim's lawyers that he has allegedly been poisoned with arsenic led to the seUout," an institutional dealer said.AFP - 359 words
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WARRANTS, OPTIONS & REGIONAL MARKETS
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Article2047 1999-09-11 18 S2-*k LMt Vai Oay LMt OlMtl A*« High LOT ttlM Cl«mt Sal* *«r- rOOO) High Lot Buyer SaPar Prtca K>4 3 > 3160 A Acor ******1 US$ 43 -1 H9 45 42.5 42.5 45 80 4.5 s 3164 Acma*0W724 35.5 unch 57 36.5 35.5 35.5 36 35 59 16 S2,047 words
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167 1999-09-11 18 R Sivanithy - WARRANT WATCH -By R Sivanithy IT'S been some time since one of the market's favourite punting instruments, Asia Food Properties warrants, were featured here, so let's revisit the numbers. In the heydays of June, this warrant often moved more than the underlying shares167 words
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Article199 1999-09-11 18 mmmmmmmmammmmmmtximwmsKm.-11n Cr Or 52-W* Last V* Of LMOMl H> Ok «M M MC« U» Urn C——| t— COOP) >•» c— 8»y«r M» CV W W 365 T73 5123 COL (2000) HK 2623 at -223 M 270 2573 2573 270 S 3.7 3 89 ***** 5124 C4ttavPK20cHK_720rt e 265199 words
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Article, Illustration679 1999-09-11 18 AFP flCwnpogtc Index +24.71 INDONESIAN shares jumped 4.6 per cent yesterday on improved sentiment over the government's handling of the Bank Bali scandal and as market jitters over the situation in East Timor eased, dealers said. However, they said the strong rally may only be an initial reaction withAFP - 679 words
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Article, Illustration819 1999-09-11 18 AFP Q SET Index -®J7 THAI stocks edged down marginally yesterday as investors locked in profits before the weekend, dealers said. The Stock Exchange of Thailand Index closed down 0.17 points to 430.91 while the select SET 50 slipped 0.08 points to 30.05. Volume was 4 million lots worthAFP - 819 words
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Article296 1999-09-11 18 AFP Q Manila -3126 PHILIPPINE shares closed 1.6 per cent lower yesterday on concerns over the peso and interest rates, analysts said. The Philippine Stock Exchange Composite Index fell 34.26 points to close at 2,099.34. Volume rose to 1.1 billion shares worth 2.1 billion pesos from 800 million sharesAFP - 296 words
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Article353 1999-09-11 18 AFP nOnpoatehig *11,45 SOUTH Korean share prices closed up 1.2 per cent yesterday on sustained gains in ex-port-oriented stocks amid a firm outlook for the yen, dealers said. The Composite Index closed up 11.45 points to 961.96, off a high of 974.15. Volume was 294.8 million shares worth 4.4AFP - 353 words
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Article603 1999-09-11 18 AFP QAllOrfaariw ji AUSTRALIAN shares closed down 0.2 per cent yesterday as a dip in blue chip industrials partly offset a surge in resource stocks, dealers said. > The Australian Stock Exchange's benchmark All Ordinaries Index closed down 5.1 points at 3,003.0. The All Resources Index added 7.8 pointsAFP - 603 words
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Article262 1999-09-11 18 AFP Q Wellington -3JI NEW Zealand stocks ended down 0.1 per cent yesterday after a lethargic day of trade, brokers said. The NZSE-40 Capital Index slipped 3.16 points to 2,124.02 on light turnover of NZ$7O.2 million. Craig and Co's Chris Jardine said the market was stifled by upcoming newAFP - 262 words
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5897 1999-09-11 19 Gc Or M Wt Laat Val Day Lut Ouott Otv Dtv YM Mat Cm Ay* I— »tH« Csmpaity SaM rOOO) High L— buyr Mkf C'yr P/E Smi Prlca MM.THNOUSTKY '•2 17.5 m b WOO Acuta 50c 125 unch M 127 124 124 125 105,897 words
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Article1362 1999-09-11 19 Or «r If tn 82-W* Laat Vd Day umOmN M> W M Cap A«9 HH» U» 5tMa Camaany l«H OOP) n» L— fyar 5a6ar CV M <■»• 9Waa nmrKMM srjHBHMMHHHiHBHi 218 55 c 2049 AS A«to 10c IT* cd -6 513 162 17] I7J T71 to* U 2043 W21,362 words
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STOCK EXCHANGE OF SINGAPORE
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Article234 1999-09-11 20 Hm>i Votane Mentor Medto 36,*****0 Omni Ind 10c 32,449,000 •Genting lot *****,000 Asia Foodi Prop US$ 17,050,000 SingTel Be M.107.000 Wing Tit 2 5c 11.080,000 My IntUSIOc 10,766,000 Eagle Brand HMgs HK75c 9,914,000 Golden Aqrf USIOc 9,343,000 Hotung In* MT5 8,129,000 Stadn Omni Ind 10c 59,279,490 SinqTei 15c 45,*****2 OCBC234 words
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Article, Illustration589 1999-09-11 20 R Sivanithy - BTOCSKARXBT COHKXDVTARY Market weakens in afternoon after gorging in morning on asset shuffling by some overseas funds By R Sivanithy THANKS to what was most probably a spot of portfolio rejigging by foreign funds, some blue chips managed to end the589 words
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ON THE GRAPEVINE
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Article59 1999-09-11 20 CX)ME Jan l, 2000, United Airlines will be flying Peter de Jager, one of the first consultants to alert US corporations about thfl miTUmw+iim hqg, %n f!hifay«n London. When the clock strikes midnight, Mr de Jager will be flying in a Boeing 777 on flight 928, said a59 words
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Article67 1999-09-11 20 MARKET talk has it that within the next year.Seedaqwillbetranrformedintoa purely technology board, along the lines of Nasdaq in the US. If so, all non-tech stocks currently listed on Seedaq will then have to be upgraded to the main board. Apparently, this move is in line with the67 words
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Article58 1999-09-11 20 FRASER Neave shares have been quietly creeping up lately, the talk being that the Philippines' San Miguel company ia 2 interested In taking a stake. It seems that San Miguelis trying to aaQita Coca-Cola Amatil stake and if its successful, it'll have a large caah pile58 words
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Article73 1999-09-11 20 TOUCH Community Service* and I I —L. _i M 4 ,1, >11 111-I Itll CnMrtAAA Wignpoint community services Aasociation will be organising a sale of clothing by local designers at The Heeren /{Shops this weekend to raise fUnds for Turkey earthquake victims. In an73 words
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Article19 1999-09-11 20 CLYDE Prutowltii, president of Econonk Strategy Institute, sent a letter to MaJjgna's economic tzar Daim Zainuddin19 words
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Article62 1999-09-11 20 THE little bird got It wrong. What It told m and reported in this column yesterday was that even the High Court library did not have the newly-amended Land Titles (Strata) Act supplement, which «fes selling like hotc&kes But the Supreme Court said yesterday the copies of62 words
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Article, Illustration57 1999-09-11 20 Wong Wei Kong - By Wong Wei Kong [WACRAFT Asia shares rose 42 certs to U554.72 yesterday with 226 million shares traded, compared with its 10-day traded average of 661,000 shares. The RSI, Stochastics and MACD charts suggest that the stock might have exhausted its near-term upside. Longer tßrm, the technical indicators57 words
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Advertisement878 1999-09-11 13 JURONG CEMENT LIMITED NOTICE OF ANNUAL GENERAL MEETM6 Natica it torefcy »Hree that the Twenty Sixth Annual General Meeting of the shareholders of the Company wi be held on Tuesday, 28th September 1999 at 3.00 p.m. at Raffles Country Club. Banquet Hal 1 A 2.450 Jatan Ahmad Ibrahim Singapore *****2878 words
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Advertisement21 1999-09-11 16 EXECUTIVE Xiftyte Don't leave the Maw/ office without them Every Friday... in THE BUSINESS TIMES. Must reading for your long weekend.21 words
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Advertisement31 1999-09-11 17 Classified First. Want to get a laptop? Or simply get computer savvy? Log on to the best site: Check The Straits Times Classified First. I Buy k. Sal IL Find IL31 words
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Advertisement10 1999-09-11 18 HOCK LOCK SIEW Takes you behind the news TheßusinessTimes IIfAPOII10 words
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Advertisement16 1999-09-11 19 "I BuyiM or sefinfl through >/S? Tl» Struts Times Classified is child's Play. fe cncatxn 1800-737-1166.~sL!16 words
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Advertisement1003 1999-09-11 20 Want to talk investments with your peers 7 i at "http://iol dbs. com S9" S3l >I'SBANK NOTICES To advertise call IN THC MATTER OP THE COMPANIES ACT. CAP. 90 AND IN THE MATTER OP KENG KENG ENTERPRISE PTE LTD On Mimbiri' Voluntary Liquidation) NOTICE IS HEREBY GIVEN pursuant to Section1,003 words
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Advertisement107 1999-09-11 20 YONQ HENQ KNITTING PTE LTD (IN MEMBERS' VOLUNTARY WINOWO-UP) NOTICE HEREBY GIVEN that the Final Meeting of the members of the abovenamed company wM be held at 5, Verdun Road *02-01, SPA Bunding, Singapore *****4, on 11 October 1999 at 11.00 am for the purposes set out In Section 308107 words
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