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GIC shares case: HK man charged ACQUITTED: On appeal I Kevin K. W. Lee faces 18 corruption and fraud charges involving $12 million. He is alleged to have offered cash and shares to an ex-GIC official A FORMER managing director of a private investment firm in Hongkong was charged yesterday

Hi-ti ling: JNew browsers stop some EDMUND TEE By] NOT everyone who tried filing their tax returns over the Internet managed to do so. The Inland Revenue Authority of Singapore (Iras) said that this was partly because its e-filing system was unable to support the most recent versions of web

Taiwan Strait crisis cost island $37b DANNY LEE &M Taiwan's bourse and financial market were kit first by China's military exercises, said an economic think-tank 1 THE PRICE OF A NEARLY-WAR military exercises and missile tests China held from jjrte 1995 to 1996 to rattle Taiwan cost the island a

paze-free cruise deal bow offered GUARANTEE FOR 3 DESTINATIONS t* SEA-CRUISE operator is ffering would-be passengers a haze-free guarantee, in en effort to forestall a slump In bookings for trips to the Malaysian west coast this year. The blue-skies promise from Star Cruises covers passengers sailing on the ship Star

Boost for Everest team's morale SINGAPORE'S Mount Everest expedition team and the mountaineering sport received a boost on Saturday when Community Development Minister Abdullah Tarmugi assured the team that the Singapore Sports Council and his ministry were still behind them. He told expedition leader David Lim, 33, over the phone:

Now, an anxiety drug for dogs ZURICH A Swiss company has announced it is launching a new drug for dogs, designed to ease their anxiety when parted from their owners. Novartia AG said in a statement that separation anxiety in dogs could lead to excessive barking and destructive behaviour. The

INSIDE World. 4,6-11, 13, 16 People 13 East Asia 17, 18 S-EAsia 19,20 Malaysia 21,23 World Focus 25-27 Weather 29 Home 30-32, 34-36 Home Focus... 37, 39 Editorial 40 Forum 42,43 Sports 44-47 Racing 47 Money 50-56 Stocks 50,51 Currency 50 UFE! All Ricky Martin wants is to fall in

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Never too old to be back in school The quest for knowledge continues at a US college, and as the baby-boomer generation gets older, the demand for such schools is likely to grow NORTHFIELD (Minnesota) As the spring session at the Cannon Valley Elder Collegium began, students made their way

Clinton thrilled by senator's trip OLDEST MAN HEADED FOR SPACE HOUSTON United States President Bill Clinton expects to get a kick out of watching 76-year-old John Glenn "wander around up there" on his new space mission. Senator Glenn, the first American to orbit Earth, gave Mr Clinton a tour on

Shuttle's payload of mice and men CAPE CANAVERAL (Florida) Technicians are loading a menagerie of animals aboard the space shuttle Columbia for a mission to study the inner workings of the brain and nervous system. Columbia. U' scheduled to blast off "today on the mission to understand how the body's

Israel frees long-time Palestine detainee JERUSALEM Israel yesterday released its longestheld Palestinian "administrative detainee", Ahmed Katamesh, who served more than five years in prison without trial, officials said. Katamesh, 45, suspected of being a senior West Bank leader of the Popular Front for the Liberation of Palestine (PFLP), was released

Teheran mayor freed from jail Interior Ministry sets up a defence committee for bim and mounts an exMbffloQ publicising Ms achievements as mayor of the capital TEHERAN Teheran mayor Gholam-Hossein Karbaschi, arrested 11 days ago on corruption charges, was released from prison yesterday. He was reportedly on his way to

France wages $3b war on air pollution PARIS France spends over 10 billion francs (552.7 billion) per year on fighting air pollution which is costing the country more than three times that amount in related health problems. A study published yesterday by the French Environment Institute (Ifen) rhowed that the

Kabul a ghost town under Taleban UN HUMAN-RIGHTS REPORT ON AFGHANISTAN EPolice :seeps ggbreets empty QfiNEVA Kabul is now a > Vhost town" because people dare not venture onto the streets for fear of being harassed by the Taleban's Muslim religious police, the United Nations Human Rights Commission said here

Feel like a box of fluffy ducks? DAVID COHEN By I.VWELLINGTON NZ-SPEAK: The lowdown Chuffed: pleased Dinkum: authentic Flufrv ducks: cheerful, bright, happy, as in a box of fluffy ducks Joker: man Jokester. a joker who tells jokes Get off the grass: come to one's senses Gobstopper: large, circular sweet

MEN OF LEISURE AFP Garden gnomes in picturesque surroundings lend an otherworldly air to this exhibition ground north-east of Paris. About 300 of the finest examples of the jovial little garden ornaments were gathered there on Tuesday for die first gnome exhibition.

Two pickets injured in dockside clash WAR ON THE WATERFRONT SYDNEY Two pickets were hurt in another violent dockside clash yesterday. Australian unions, meanwhile, launched a Federal Court challenge to last week's mass sacking of dockers by Patrick Stevedores. One man was taken to hospital with minor injuries after being

THE BUDGET IN BRIEF REUTERS me «nnn« k,^ 'ufi conomic8 Erik A* 1 h ol<^g up a compact disk -ontaining details of" me spnng Budget in Stockholm on Tuesday. The government presented a cautious Budget, resisting calls for tax cuts.

Flow of illegals set to rise TRAFFICKING of foreign workers into Asian countries which have not been as adversely affected as some of their neighbours will increase as the economic crisis drags on, according to the International Labour Organisation. With shrinking job opportunities at home and growing wage gaps as

Take note: 700,000 fewer US secretaries today WASHINGTON There are 700,000 fewer secretaries on the American business scene than there were 15 years ago, the US Census Bureau has reported, but experts say that may have more to do with the title than the job. In a statement timed to

Asian jobless ranks to swell IRENE NGOO REPORTS by ILO cites inadequate policy responses to crisis crippling economies in Indonesia, Thailand and South Korea WORKERS in Indonesia, Thailand and South Korea will face more hardship in the coming months because of inadequate policy responses to the financial crisis crippling their

Sharp rise in violent right-wing plots in US Government buildings, bridges and banks have been the target of hate groups, but most of these Moody plans have been thwarted by ponce ATLANTA Right-wing plots to derail trains, assassinate public figures and blow-up bridges have increased sharply in the US in

Retired programmers Uncle Sam wants you LICKING THE MILLENNIUM BUG WASHINGTON Not-so-over-the-hill computer experts, rejoice! Uncle Sam wants and will pay you. To prevent US government computers from suffering the world's greatest memory loss at the turn of the century, Uncle Sam will take extraordinary steps to reclaim retired brainpower.

White House out to slash air accidents WASHINGTON The US government is seeking to slash the air-accident rate over the next 10 years by focusing on one of the most common types of accidents sound planes flown into the ground by confused piAviation regulators unveiled on Tuesday a priority list

India reverses its brain drain Economic development and improved communications in India make for better prospects and encourage Indians working overseas to return BOMBAY For ifeaay years India watched helplessly as its best scientific and engineering talent- fled the country for better proipects abroad. But rapid electronic communications and career

Soul-cleansing dip in Ganges HARDWAR (India) Several million Hindu devotees immersed themselves joyfully in the River Ganges on Tuesday as the last Kumbh Mela festival of the century reached its climax. At least six million hymnchanting devotees bathed in the chilly water, many of them going in even before the

New Delhi accuses Beijing of border incursions NEW DELHI India's Defence Minister George Fernandes has charged that China was making repeated military incursions into a north-eastern state. He said Chinese troops were "coming and going" into parts of Arunachal Pra- desh and that they had built a helipad in the

Petty clans take over from godfathers The Camorra is in a state of anarchy with small-time clan leaders fiahtina for supremacy, unlike the Sicilian Mafia which keeps its members in line THE MAFIA: Rise and fall NAPLES The once all-powerful godfathers of the Camorra, the Neapolitan Maria, are either dead

Lover leads cops to Mafia boss PALERMO (Sidly) Italian police have arrested a powerful Mafia leader after following his mistress to his hideout, a police source said. Police arrested Vito Vitale, considered to be the Mafia head in the Trapani region of north-west Sicily and a protege ofjafled Sicilian Godfather

Salon robber leaves clue His nails NEW YORK -A bandit has robbed 17 nail salons in Manhattan in the last three months. Last week, he provided police with an unusual set of dues his fingernails. The robber is a welldressed man in his 30s, b 1.8 m tall and weighing

Farewell to arms for children? Some 250,000 children are estimated to be involved in wart around the world and Unicef wants to make their enlistment a war crime UNITED NATIONS Uniccf wants to make recruiting children into armies, sending them into combat zones or forcing them into prostitution a war

Venezuela's former President Carlos Andres Perez was placed under house arrest on Tuesday on charges that he and his female companion embezzled state funds. Frinklin Raines, the US' first African-American budget director and White House point man in last year's landmark balanced budget agreement with Congress, has resigned. Disgraced former

Quoteworthy 'It's something I don't think about, let alone worry about. Ifyoustart worrying, then you block wherever that comes from. It's like when I start thinking, I get in my own way/ J -^Singer Edward Van rUleo on his new album tided Van Halen 111

I Drug reactions killing patients CHICAGO Adverse drug reactions appear to be a major cause of death among hospital patients in the United States, a new study reported on Tuesday. Researchers at the University of Toronto, who examined 39 studies, estimated that an average of 106,000 deaths at US hospitals

DWARFED BY HISTORY AFP A group of schoolchildren get a hands-on history lesson during an excursion to the ancient site of Babylon, near Baghdad, on Saturday. Despite the recent face-off between Iraq and the UN over weapons inspections tourists have been trickling in to visit what is undoubtedly one of

Money medicine sickens US public Efforts by the Clinton administration and Congress to crack down on physician fraud are seen as indicative of a loss of faith in medical ethics PHILADELPHIA The journal of the American College of Physicians has warned that US society is losing confidence in the ability

Get ready for 'superbugs' WASHINGTON New drug-resistant "superbugs" are certain to poo up soon unless doctors and hospitals crack down on procedures. Careless use of antibiotics and slipshod hygiene are almost certainly responsible for the rise of bacteria that resist the last-defence drugs, methicillin and vancomycin. Health experts gave the

E A S T A S I A g^fWBMWMM^pMgg Famine 'Kilted 3 Million' IfIHHH| The famine toll in North Korea since August 1995 is estimated at three million, and counting. page 17 I ii i^^^ra^^ mbi 4 India Reverses Brain Drain HIJKo communications in India have encouraged Iflfl Indians working

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i Today in BeritaHarian Pengayuh basikal tua ragut rantai leher seorang wanita di Tampines. Potongan Emas Mula-mula sektor hartanah, kini kedai emas pula tawar potongan harga untuk tarikpelanggan.

'3 million' died in Korean famine CALL FOR URGENT AID Two million tonnes of food needed this year WASHINGTON Famine has killed about three million North Koreans since August 1995, the head of a South Korean humanitarian organisation and a former Bush administration official have said. To avert further widespread

Siew tells minister to stay on TAIPEI Taiwan Premier Vincent Siew has rejected the resignation of popular Justice Minister Liao Cheng-hao. The Premier told Mr Chang You-hui, secre-tary-general of the Cabinet, to return the resignation letter. The China Times reported yesterday that the minister may reconsider. On Monday, Mr liao

Driver of Macau's security chief slain MACAU The driver of Macau's security chief was shot dead at point-blank range outside his home yesterday the latest in a series of killings in the Portuguese-administered gambling enclave, police said. Mr Wong Kam Seng, 50, who works for Under-secretary for Security Bngadier Manuel

ANA pilots' strike entres 11th day KWAN WENG KIN By JA>A.X CtfMßgife^DliF, dots away MfhrfuarantMd allowance TOKYO A pilots' fttattftbtt All Nippon Airways, Sm 5(bV second-largest airHnfT entered its lit* day today otosr a >. dispute r^H^m^r a new pay hopes will save it one billion yen (Ssl2 million) a

Taiwan team for China next week TAIPEI A group of Taiwan negotiators would visit China next week, the first delegation from the island in nearly three years, it was reported yesterday. Taiwan's top negotiator Koo Chen-fu said at the end of a Kuomintang meeting that Mr Chan Chihhung was to

MIND NT REUTERS Kidering whether to make a dive fiijr t> i Taipei women stop in front of a road rnoon thunderstorm which inun <tj Mymg areas. The downpour on Monday saw 1 14 mm of rain die second-hi^es^dij^i^^ril rain in the past 100 years and forced Taiwan's domestic airports

HK to provide early red-tide alert system CMsfl Extorthre Tna pMfes fovt vM inpravt sysMi for sMaitorinf °T? WW^* mVwmKm tyaralH to fisVtaMttrbk HONGKONO Hongkong's CyrfßwtuUve Tung Cbee Hwa j dimly visited fish farms devastated by a toxic red tide amid further warning for the public not to eat affected

China may rezone military regons in army shake-up HONGKONG The Chinese army is considering rezoning its seven military areas into five "war-zone regions" in a major shake-up of the top command. The five regions of the People's Liberation Army (PLA) would comprise Nanjing, Guangzhou, Jinan, Shenyang and Chengdu. The two

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Thai festive road deaths set to double BANGKOK Car crashes which have already killed 70 people on Thai roads this Buddhist New Year holiday are expected to result in more fatalities as Bangkok residents return en masse from the provinces, police said. The death toll this year is sharply higher

Safeguarding Viet kids HANOI A four-point programme will be used by the Vietnamese Interior Ministry to fight crimes against children. The campaign will focus on murder, assault and sexual assault, as well as child prostitution and drug abuse among children, both of which nave seen an alarm- ing rise in

Ramos backtracks on timber exports President reverses decision to allow Philippine hardwood exports this year following environmentalist outcry MANILA Philippine President Fidel Ramos reimposed a ban on lumber exports abruptly yesterday, following an outcry over an earlier decision to lift it The government said earlier this week that it would

Pol Pot "agrees to be tried' Former Khmer Rouge chief will accept the group's decision to hand him over to an international tribunal, says Far Eastern Economic Review HONGKONG Former Khmer Rouge leader Pol Pot, mastermind of Cambodia's "Killing Fields" regime, has agreed to be tried by an international court,

Students press for reforms RALLIES CONTINUE IN JAKARTA JAKARTA Hundreds of students gathered at rallies at Jakarta universities yesterday to press their case for urgent political and economic reforms to deal with Indonesia's financial crisis. At the state-run Indonesia University (UI), at least 700 students from several universities joined for

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Johor to build 11 more dams in 5 years MALAYSIA'S WATER PROBLEM Move to ensure continuous water supply JOHOR BARU Eleven more dams will be built in Johor over the next five years to ensure a continuous supply of water for the state and for distribution to other states. "Our

ARMED,WITH WRONG LICENCE NEW STRAITS TIMES Three security guards (two shown above with their faces masked) were detained by Home Ministry enforcement officers on Tuesday for having the wrong firearms licence^ Not only that, they were armed with guns which were licensed for use only in farms and orchards while

Sabah to rush food to stricken villagers Government to start food aid today to drought-bit areas, though the situation is not seen as critical. In KL, residents prepare for water rationing KUALA LUMPUR The East Malaysian state of Sabah yesterday promised food aid to hungry villagers in drought-stricken areas as

Haze in Brunei capital eases but not elsewhere IGNATIUS STEPHEN Byl IN BANDAR SKRI BKCAWAN THE haze situation over the Brunei capita] improved slightly yesterday morning as officials disclosed that a Malaysian military aircraft would soon begin cloudseeding operations over drought-stricken areas of the sultanate. The slight clearing of the

Acehnese intruders used force BERN The Swiss embassy in Kuala Lumpur had to seek police help against 14 Indonesian refugees last week because they used force and did not ask for asylum, the Swiss Foreign Ministry said on Tuesday. Answering criticism by the United Nations High Conimisssioner for Refugees of

Jail for actress who gave false evidence KUALA LUMPUR Actress Norliana Sulaiman has been jailed for two years for giving false evidence in a sex-for-hire case. She was jailed for one year for giving false evidence before judge Zura Yahya on Feb 6, 1996, in the trial of production house

Poultry farmers quitting business Poor demand for chicken and Jtifh cost of supplies have forced many farmers to halt production FOWL: Few takers OH MARCH 2, tIM ftvtremefrtftUmtfMincrttttta tkt prict tf cMckM te tffitt ristaf costs. Tbtarktcf ffarai cMckta «m ptffMl at Ms3.so(Ssl.6o)ptrkf.HP 45 sm. But farMtrs say they co«rid

Sign waste deals quickly: Minister ItUALA LUMPUR Local authorities were yesterday directed to sign quickly interim agreements with the companies that have been appointed to manage solid waste throughout the country. The Housing and Local Government Minister, Datuk Dr Ting Chew Peh, said this was to ensure that the privatisation

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Ramos allies rate ppvt as corruvt NIRMAL GHOSH Reports by PHILIPPINES CPU RESPONDENT Former senior Philippine government officials shock international seminar on graft in Asia with poor assessment of current administration PMMSOITHE FKT YEAI Of US NESMKYIIttTM ■MUSENHKNG FBI TO JAL THAT NiswriumD.' -MrMalouMaiwahMof The Manila Times MANILA -At a

Who says Japan is not providing leadership, envoy asks AMBASSADOR SPEAKS OUT Newly-appointed Japanese Ambassvdorto Singapore Hitvshi < HashWpto rebuffed criticism that Japan failed to provide leadership duringthe Asian economic crisis. WUROMUI relays his deferux delivered at his press conference on Tuesday. I am not sure what they mean by

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Hotel's food checked every month TAN YILIN COMPASS ROSE GETS AN 'A' *L EVERY month or so, a microbiologist appears in the kitchen of tne Compass Rose restaurant at Westin Stamford Hotel. His job: To check on the cleanliness of the restaurant's food and food preparation techniques. He also takes

MOVIE MAGIC COMES ALIVE How many times have you gone to the movies and seen technology that you pooh-poohed as movie magic? This is one of the real-life examples on display at the aviation security conference and exhibition. Passing off as someone else with a stolen security pass will become

REPLACEMENT KILLERS fcgen JT 0 counterfeiters will have a difficult time passing their works of art through this. Bom an infra-red detector and a video microscope, it can pick up invisible security patterns.

SPED If only Sandra Bullock had swept her bus clean witn this detector. The Itemiser detects particles that drugs and explosives leave. The suspect object is swept with a paper filter by hand or a hand vacuum, and the sample is analysed and identified within five seconds. A more portable

TOTAL RACALL Do not try stuffing any naughty VCDs into your trousers Defore you pass Customs. It may have had the Rapiscan Secure 1000 installed. This body scanner will Chow up foreign objects keys, guns, drugs Or unusually large amounts of money when jou stand in front of an X-ray-like

BEAT THE TAX DEADLINE WITH ELECTRONIC FILING J ALEHA HASHIM EDMUND TEE Crapklci by TeU by Now that the deadline for posting your tax returns is over, electronic-filing is the only way left if you want to avoid paying up to $1,000 in fines because the deadline has been extended

Should doctors promise profits? The issue of whether it is ethical for doctors to guarantee profits will be discussed in Parliament on Monday FOUR doctors who guaranteed the Sesdaq-listed company AsiaMatrix certain profits when it agreed to buy stakes in their practices have sparked off a debate on whether such

Low allegedly made false declaration LIM SENG JIN FORMER SDP MEMBER ON TRIAL *L A SRI Lankan businessman said yesterday that a veteran Singapore opposition politician had suggested that he get hold of a forged university degree to make it easier for him get an employment pass here. Markus Don

Stressful,tiring and times-consuming that was how Ms Hanis (above) described the action which took two years. She is shown holding copies of the lookalike ad on the right and the photograph for the Aids awareness campaign. The defence oTMs Urn (right) was that she had commissioned a roadside artist to

Hanis gets $30,000 ELENA CHONG *L Former international model Hanis won a suit against a social escort agency owner for using her picture in an ad THE High Court awarded former international model Hanis Saini Hussey $30,000 damages and costs in her defamation suit against the owner of a social

Two suspected illegals nabbed JOINT action by the Police Coast Guard (PCG) and the Royal Malaysian Marine Police (RMMP) led to the arrest of two suspected Indonesian illegal immigrants on Sunday. A Singapore police statement said that at about 10.40 am that day, the RMMP alerted the PCG's operations room

Electrician electrocuted while fixing traffic light 'MY SON MS ALWAYS KEN CAREFUL OH THE JOB. WE WERE WAITING FOR HIM TO COME HOME FOR SUPPER WHEN I RECEIVE! A CALL FROM THE POLICE.' The father of Mr Chua Wee Kiong (above), who did not want to be named. AN ELECTRICIAN

Sinda to get new CEO The new man at the helm, the first not seconded from the Civil Service, plans to reach out to more Indian troops THE Singapore Indian Development Association (Sinda), the Indian community's self-help group, will have new chief executive officer next month. Mr S. Vivakanandan, 35,

Fire destroys old couple's JASBIR SINGH *L AN ELDERLY couple were forced to move in with friends after their pre-war bungalow house was destroyed by fire, said their daughter-in-law yesterday. The single-storey house along Bassein Road, off Balestier Road, was reduced to its skeletal structure in less than 15 minutes

Jurong island to have treatment plant S220M FACILITY WILL PROCESS WATER, WASTE Newisland's utility will ease the pressure on potable water resources here THE new Jurong island being reclaimed will come with a $220-million facility to treat industrial water and hazardous wastes, and provide all the industrial water the island

Singles less sympathetic SINGLES appear to be less sympathetic towards Mick Son. Twenty-four people, most of them singles aged between 22 and 40, said he deserved to be slapped for misbehaving in the bookstore. Several noted that Mick's response to being slapped making a face and sticking out his tongue

Slapping boy is out, but. IE IS IK mil AM H SDMI HAVE KEN ABU TO CMfTIOI HtS EMOTIONS EVEN ffTMCNUCNUNiT.' Mr. Christine Ho, 40, a koosewif e, who said the man cxmld have resorted to other measure*, rack as informing tn« store manager. The Straits Times Newsline was overwhelmed

CLOMMING AROUND IN PUBLIC LIMTECKPENC Children playing in Centrepoint I Shopping Centre while their parents went about their business of shopping. Although most parents agree that children should behave better, they also prefer that disciplining children be left to them. They also suggested using other measures, such as informing the

I J Reader s respond hhhhhhhhhhl Pesky Air Passengers ShD Victory For Hanis ITo Slap Or Not To Slap? |^H Alcohol and the smoking ban are causing tM BT Former model Hanis Saini Hussey gets I This boy should not have been slaDDed said DFVI headaches for airlines. Many now

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Now! You can rediscover the vitality of your Youth! Do not let age and stress get you down. With New EXSATIVA, you will feel Younger... Longer! Energy peaks in our 20's and then declines in our 40's to 50V However, modem living may accelerate this process and make you feel

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Wealth of choice on Chinese Net SCIENCE TECHNOLOGY B,j JASON LEO W There are more than 500 sites on the Chinese Internet, which are all linked to the Speak Mandarin web site TJ" AW pupil Oliver for choice when I jhe wants infor■JlLa^^mation on things Chinese on the Internet. He

Speak Mandarin website offers more CHINESE INTERNET SITES f «JH£ Speak Man- darin Campaign I website was I launched in 1996, -JL. when the campaign went into cyberspace. The site, at www.gov.sg/spkmandarin has grown, and gone interThe latest facility allows visitors to type in Chinese words to find out how

Facelift for a goddess Hokkien immigrants, out of gratitude, built a temple to honour her. Now, 150 years later, their descendants plan to restore Taoist goddess Ma Zu s home to its former glory. KM CHEN reports. TM MB DECAY HAVE HMD HE TCMPIE'S BEAVfY, NT ELEMENTS IF lIS ommisoimaN

A 30,000 silver dollar temple THIAN Hock Keng Temple was built in 1842. However, records show that a shrine already stood on the site, on the beach where Telok Ayer Street is today, as early as 1821. The temple, built by early Fujian (Hokkien) immigrants who were grateful to the

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Grades of hygiene THE Environment Ministry's scheme to grade eating establishments in terms of hygiene is an eminently healthy one. According to the programme, which comes into effect next month, they will have to display badges ranging from A for excellent to D for below average. That stringent criteria were

Malaysians' patience fading as taps stay dru BRENDAN PEREIRA *L In KUALA LUMPUR SERDANG Member of Parliament Datuk Yap Pian Hon has been facing the firing squad every day for the past fortnight Step out of his office and his constituents pounce on him, wanting to know when regular water

Divided over issue of bond-breakers PANG GEK CHOP *L Is this not a case of killing the chicken to frighten the monkey or executing one to warn a hundred? 9 Reader Chen Aiqing on publicising bond-breakers. READERS of Lianhe Zaobao were just as preoccupied with the issue of bondbreaking among

Myopia a serious problem 'If parents do not bother about their eyesight, and spend long hours in front of the television or computer and read in bed. how can we teach children to care for their eyes Header Ning Xin IF YOU put a group of children of different countries

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In bad times, buyers beware Your article Too little too late" (ST, April 14) was timely. With the current economic recession, even highly reputable developers are putting their projects on hold. Buyers are also kept in the dark. I am one of the buyers of the project mentioned in the

IU crash tests on screens •^T "W" -TE REFER to m #m /Mr Sebastian \l\l Tng's letter V W (ST. April") V in which he queried whether the crash tests for in-vehicle units (lUs) carried out in Japan were conducted with both tempered glass and laminated glass windscreens. We would

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Tempered glass safe too 1 WOULD like to thank Mr Sebastian Tng for his comments in "Legislation for laminated glass windscreens?" (ST, April 11). International research has shown that both laminated and tempered glass is safe to use. In Singapore, we allow the use of both laminated glass as well

Adhesive tape holding IUs proven adequate IKbhiiK to the recent public concern over the m-vehicle units (Ills) dislodging and hurting the driver while driving (ST, April 4 and 6). We would like to further assure the public that the lUs have been installed using 3M's technology 3M Very High Bond

Doting parents have raised naughty kids YOUR report "When noisy kids ruin calm in public places" (ST, April 9) and recent articles concerning gangsterism in schools have something in common. It is a result of both parents working and children left in the care of maids. With smaller families of

Act against water wasters I REFER to the letter by Mrs Choo Wai Chan "Lack of water catchment hampers ideas" (ST, April 14). I agree with her that public education remains the mainstay of our water conservation plan. No matter what scheme we utilise for storage purposes, the bottom line

Why not screen movies for foreign workers? 1 HAVE followed with great interest the recent saga about Filipino maids being barred from congregating at Lucky Plaza for various reasons. It is not my intention to decide who is in the right or wrong. Rather, I would like to point out

Equal, but not identical IHAVE been asked to explain what I meant when I wrote that in Singapore, there is no pressing need to fight for sexual equality. I meant that women have equal opportunities, equal political rights, equal legal rights, and equality in allthe areas that count A woman

Everyone should fight for his rights THE article "Sexual inequality still alive" by Ms Jacqueline Zhang Jing Yin (ST, April 15) is amusing. It is obvious that the writer did not consider several facts and points before attempting to enlighten us on the flaws of Mr George Wong's letter. I

Unfair for Nets to charge I REFER to Nets' comments in the letter titled "More CashCard uses" (ST, April 15). As the policy towards a cashless society is a national one, Nets quite obviously has a major role to play. The transition from cash to cashless has to be smooth

A free press protects people REGARDING the recent exchange over "sensationalist journalism" perpetrated by the US media, I would like to give an American perspective. In America, the country is the property of its citizens. With or without Mr Bill Clinton, we will move forward. The US government is a

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LATE NEWS MLUnOTUMED TOUSBUL AC MILAN'S Dutch international striker Patrick Kluivert could be joining Arsenal next season. The English Premiership title-chaser has reportedly bid US$lB million (5528.9 million) for the 21--year-old, who has failed to win over the critics since joining Milan from Ajax.

I'll win, says Europe chief YAP KOON HONG SOCCER But Johansson won t stand again if he loses fight for Fifa'stopjob FACTFILE: All about Johansson Date and place of birth: Nov 5, 1929, Bromma (Sweden). Marital status: Married to Lola for 20 years. Four children, 10 grandchildren. Marital motto: What

A raging Bull waits for gates to open THOMAS KOH TIGER BEER S-LE AGUE SOCCER iIL GOMBAK UNITED'S midfield general Surachai Jaturapattarapong was a frustrated man last Saturday. His International Tranfer Certificate arrived a day late and the 29-year-old Thai had to watch the action from the sidelines as the

Watch out, Gombak ready to charge I TIGER BEERS-LEAGUE SOCCER S-LEA6UE: Fixtures Geylang United v Woodlands Wellington (Bedok), Home United v Balestier Central (Bishan), Jurong FC vSAFFC(Jurong East), Marine Castle United v Tanjong (Hougang), Sembawang Rangers v Gombak United (Yishun) 7.30pm. GOMBAK UNITED chairman John Yap has called on his

MOTORCYCLING Doohan faces twin challenge in title chase JOHOR BARU Australian Michael Doohan, chasing a fifth world sOOcc title, is out to make amends in the Malaysian Grand Prix this weekend after failing to finish in the season opener at Suzuka, Japan. Confronting him are a new track and the

Wily Wizards conjures vital away victory BASKETBALL NEW YORK It was a desperate situation for the Washington Wizards. A loss to the New York Knicks would have eliminated it from play-off contention, and a victory would have kept its already slim postseason hopes alive. Give the Wizards credit. A team

OUT: Knicks protest NBA Commissioner David Stern on Tuesday denied a protest filed by the New York Knicks over its one-point loss to the Miami Heat last Sunday. Referees had waved off a last-second basket by Allan Houston whicn would have given New York the win. Stern concluded that the

James, Peter continue Muruthi tradition MAHMOOD GAZNAVI CRICKET I By] I FOR THE last three decades, the name Muruthi has been synonymous with local cricket Stacey Muruthi has been a permanent fixture in the make-up of the national team, having played almost without a break for the Republic in various

Rivals excite Ouzo, but trainer Thwaites cautious MALCOLM BASTIANS RACING *L THE sight of foreign rivals Starborough from the United Arab Emirates and Vialli from New Zealand on Tuesday elicited mixed feelings from the connections of Ouzo, the Malayan Racing Association's entry for the HK$7 million (551.45 million) Queen Elizabeth

DANNY KHOO»S GUIDE TO YESTERDAY'S BUKIT TIMAH TRACKWORK LUCKY KIWI served notice of his intentions with a pleasing workout at Bukit Timah. Taken out by a track rider, the Asti Bay gelding ran right away from his unnumbered stable companion at the end of a 600m workout to clock a

YOU'RE OUT BASEBALL AFP Texas Rangers shortstop Kevin Elster leaping over Detroit Tigers* Luis Gonzalez alter forcing him out at second base during the first inning at The Ballpark in Arlington Texas on Tuesday. The Rangers defeated the Tigers 11-2.

SCORES STATISTICS BADMINTON hrt« iMstitMNcy: Chua Chu Kang 3 Toa Payoh East 2, Pasir Ris South 3 Cheng San 2. Boon Lay 3 Hong Kan North 2, Punggol Central 4 Paya Lebar 1. Radm Mas 3 Telok Blangah 2, Thomson 3 Ayer Raja 2, Potong Pasir 4 Tiong Bahru 1,

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TODAY'S EVENTS BASKETBALL Schools' National (."ships s-finals: C Division (8.30am). B Division (2pm) Geylang Indoor Stadium. CRICKET luanku Jaafar Trophy U-13: Malaysia v Singapore (IA, 11am). SNOOKER SBSC National Classics, S-finals (SBSC Tournament Hall, 6pm).

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NBA: Play-off match-ups x. JtlctMtij PMTtt vs v< Now York KoiCis 3. IttrH— tPieeiT vs 6. Clevwand Cavaliers X Utßll I^SEft VS B* xIO'UScOB mhOCBOCS 4- Phoenix Sum vs 5. San Antonio Spurs 4 Manilla finnAiiiilm ua 7 "t*. „i I jk iWiuw aupenonics vs Minnesots l wotves I -A

800 DEATHS 800 DEATHS 800 DEATHS 800 DEATHS 800 DEATHS 800 DEATHS TAN WAY TONG Age 55 was called home co be with the Lord on 14 April 1998. Mother Soh Chile Nya Wife Tang Chong Hoy Brothers Sisters-in-law Tan Way Chua Fo Meng Hiang Tan Wei Kok Grace Pang

808 ACKNOWLEDGEMENTS 808 ACKNOWLEDGEMENTS K "^T»TrTIIll7OfThTut7" i M. PARAMESWARI AMMAH (WWa of Ma CB.Nair) Oapartad: 3/4/98 wish to express their heartfelt thanks and appreciation to all friends and relatives for their kind condolences, wreaths, donations, assistance and attendance during their recent bereavement. ATHMA SHANTI POOJA Tht f amity also requests

808 ACKNOWLEDGEMENTS IfTHariwHyafThaUtt^l OINDCR SINGH I/O f IN9ARA SINOH BHAMBRI Dapartad 08/04/98 wtahas ta axpross tlMlr haartfolt a/atitvdata aMrolatlvos, frtonds and coNaaojMs Mr tnclr him atttn danca, asslstanca, cooooi#nc#s mm wraaths during that racent baraavemant. Path Da Shoo, will tea hold at Sri Guru Slna* *^wli roffipvv, Road an 17

806 IN MEMORIAM 806 IN MEMORIAM 806 IN MEMORIAM I IN LOVING MEMORY OF CAPT. JOHN WONG VIEW JUAN I Hotnm with the Lord mince 16 April 1 994 I 'Zrsta/A separates us temporarily 9 USui CArisi will reunite us permanent lu. I -it-ad too A you Aome, /fata* Jiis

//w memory is as dear today. At in the hour he pasted away.

Call 1 800-737-1106 for your free booklet

OBITUARIES For booking enquiries, call HpHBbWbWBBbibIIIIBIIhBIb A^^^k Late death notices can be placed after office hours or on I non-working days at Times House, 390 Kim Seng Road I during the following hours: I Mon-Fri 5.00 pm to 9.45 pm T A Tl? T\ t3b4 TU Sat Public Holidays Lo

•m*itng way and pletuant face Are a pleasure to recall; He hod a kind word for each And died beloved by all. Someday toe hope to meet him, Some day, we know not when. To cl<up hi* hand in the better land, Never to pari again. 4

804 CONDOLENCES 804 CONDOLENCES 804 CONDOLENCES 804 CONDOLENCES 804 CONDOLENCES Condolences to jl Mr Philip Kwang |jj our Director of A PD International Group n on the demise of his beloved mother m n NIG ENG HOUR S Departed on 12/4/98 U n SINGAPORE AUSTRALIA II •PD Manufacturing International Pte

806 IN MEMORIAM 806 IN MEMORIAM 806 IN MEMORIAM IT ißiAMtMnary J 1 i« Levtat Meawry Of I CHRISTOPHER GN Oapartei MAM My heart is sore As time goes by I miss you more. Your loving smile, your gentle face. No one can fiN your vacant place From NMk Irene

if With Deepest Sympathy and condolences to our Partner, CHUNG TING FAI on the demise of his beloved father CHUNG SHIU CHI who passed away peacefully on the 14th day of April 1998. From: The Partners and Staff of CHUNG TAN PARTNERS As a mark of respect, our firm will

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MttllitfKU *M •J"£2S"*' e 2*-. 'WaaaaaltafWrafaajtm, ♦Mnißinrtwu.tpaiMin. TkntWUpiilniii.j imtilwin His portrait in its silver frame, The ravages of time may dim. Butinourheartshe'sstinthesame, We hold bright memories of him.

Make mountains out of molehills. \\ML^ With so many fine educational and upgrading Vgr opportunities in The Straits Times Classified daily, it's no wonder our readers are inspired /-p/^fT to scale the heights of knowledge Jy^j^sr^) Advertise in the Education/ Training f^\y>^ section (Classifications 703 to 794). C_/^ CaD C.A.TJS.

F See The Rolex Collection at: Lee Chay Watch Co. Pte Ltd #01-21/23 Peninsula Plaza, 111 North Bridge Road, Tel: 336 0088/336 0112.

■^■9 Business class aH t/ie w/ay Reservations 800 6161 367 toll free jt> OM W Huteti mi Rr««. mhcAw P*.itK RcgHo «V

I Tke Austin Reed Made-to-Measure suit. j I As seen in Bucfeingkam Fklace, Windsor Castle, j Skenton 'Way and Orckard Road. j i Austin Reed London. Made-to-Measure suit is not just a perfect With such attention to detail, it's of Bespoke tailors to the fit, but also perfectly suited to

JiltffltiGHi 1 s«*«f« Comprising 2 lots of over 1 5,1 00 sq.ft. and 20, 300 sq. ft. respectively. Bid for one or both bungalow plots. Commanding view, with interesting terrain for creative design iloyout. Methodist Girls' Sch, Henry Pork Pri Sch Raffles Girls 1 Pri Sch within 2km radius. Tender

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I "I know how to help your j I j smoothly and quickly." I I j When arranging a mortgage to purchase a I I I property in Great Britain, Australia, Canada, I I USA, New Zealand or Singapore, why not I I listen to an expert? I I I

I jj^flß^^^ 01 2-345-6789 Bs^ M 9fl UJy^ Kr^^ sj Tß^^sßCHA^^{^s r^|^MMJ B^— =SHk i .y .BE???*?y? r f2345 E i^^ y .^a^H a^a^^ SffL^aw^B^BV l fc 1 Instant Printing For Your Company Personalised Id Card Quality You'd Expect from the FARGO ID Card Printers. Bolder, brighter colors Faster print

Landlords vs tenants Tenants pushing for rent cuts don't always win, especially in the suburbs. Look east, homemaker Buyers looking for new homes could cut a pretty good deal in a couple of developments in the east. Stock watch Osprey Maritime deserves a second look. I 'IVJ UW v ~?^dfliH

1/7 hou Ex-Ante PWod PootSofcPnoe Ending ($/vwh) l«.04.M 0430 69.M21 0600 59<120 0630 59<024 0800 60*131 0830 59 4153 0700 50.4064 0730 *****2 0800 *****6 0630 *****6 0000 *****9 0830 70.7070 JOOO 70.7 K>7 1030 *****2 1100 86.2576 1130 87 4786 1200 86 2676 1230 70.7133 1300 70.7131 1330 *****1

mm^ A T A 1

S&P slashes 4 banks' ratings TAN LIENG &L Downgrade based on information from annual reports, published data and talks with bank management CREDIT rating agency Standard and Poor's (S&P) yesterday lowered public information ratings on four local banks and affirmed ratings on two others, reflecting worries over Singapore's economic outlook.

Dow crosses 9,100 NEW YORK US stocks surged on Tuesday, sending the Dow Jones Industrial Average above 9,100 for the first time, amid optimism that 1998 earnings will match or exceed expectations as the economy expands with little inflation. "We could easily see the Dow rally to 10,000 within a

OPEN HOUSE IM root KONG The F&N group has launched its serviced apartment business at home with Fraser Suites (above) in River Valley and Fraser Place in Robertson Quay. But the regional economic crisis has Slowed its foreign projects. [25j>er cent take-up for two projects, pigess]

TOP RISES (C) Kill April 15 MW 1,543.94 (-17.61 pts) m«ip M u g S3 ssst=s :ssimrww a *****.0 STCwMZSc S4S fj u.7 lliBIW«Se S8 8 U SrClWMl«28t^ m 7 4.1 8wHMc2DOO ui j m

TOP RISES OBf!W._____ B0.0 3 Slljtlfl 2*100.0 W jJJ"*[»- 20.7 6 JHetW« ITJ 2 5TOPM25C M.5 B.T M M«S2Sc »J t.4 2 IfrWlliUlOc V A4 15

TOP FALLS (C) c*» CtmHmTZSc MM M U ■Timiiim eat 40 3i ac rw 40 5.4 MT2k 470 35 6.9 OCKNnip 840 35 4.0 OBNrmn_ H» 30 Uk SM200 &M «i 14 t *^w JV J.4 MINnl|i«— TIS 2$ ii Btllt 271 24 1.1 BRHNN 2f9 24*12

TOP FALLS <m« cwb T«U*M« J& 40.0 s SWKtW i 3U 3 IMraptaTM 4 ZU U wc«§t riu u mmfmwm «j is WUt«ifWI_ 43 «L2 i ME2SC B M.7 3 snwmww b n.7 3 MMnaicsVIOI 10 HJ 15

INDUSTRIAIS INDEX

BT SRI

SES MAIN BOARD Transaction date: April 15, 1998 «0*O CM M VU Doy Oft Not MC*»WtAv« t— CT Tr—ad 8o» r- -OOP MH> U» 0»» »/t jgl Hto» 43 18 5 ACCOvnamtcidOc M -I 322 31 30 O3 37.9 244 32 ASCNT$*****. 0$- ASfUSKKX) USHS M.S Aa«rd«in10p UK- 37.5 92

INDICES a»w cmwf ST HHuilrWi 1943.94 -1741 ST mMN 2M.M -IXM STH*«ta MO&2O -1.47 ST PfMrtlM 9*020 -n.04 ■TCampMM* 1334.0* -20 J8 ■T-MCA 733JS -MO •T-WH MU4 -4J* BTO«A>S -7«2 «.J7 •TCAW -2US9 -Of ■TOSV ♦*****M -209M4 OMCPFkMtx 443.43 -«.1« OCK 1014.71 -Ml UOSOTC S3CM -n.71 UOI HKH M.92 -102

TOP ACTIVES UracoHMettOc 2CM4.000 M W«Murcn n^W.OOO MWCMNtf 12.5i2.000 -MytafcHKtOc U.274,000 MUWCMcMI H.MAOOO HKUMtfUSWC- 10,437.000 wtUWKSOt KUStOOO ft*Mrwt«gn 7.2*4400 Uw»o— Ufa 7.072,000 •wtWOrwp 10*1000

SCOREBOARD MAM CLO* UP On Una* Up On Una* MMuetrtpJ 38 9ft 41 1 44 1 Finance 3 21 8 0 12 0 Helen 1 7 10 2 0 Prapartlea 4 10 2 2 17 1 Wentetlene 0 0 0 2 5 1 Mining 0 0 0 0 2 0

Fears about KL firms take toll MARKET REPORT FEARS of more corporate failures across the Causeway and the downgrading of four local bankTpublic information ratings sapped sentiment and squeezed the stock market yesterday. Even news of soaring US stocks the Dow Jones Industrial Average rose 97-9 points to a record

TURNOVER (READY) TeteietoflMt Waft Twe InduttrUr* MOzStm *****m Finance *****m *****m HptPM 2.113m 1.184m Prepertlei 25.*45m *****m LoantStocki 12.481m *****m Plantation* 4349m 2.739m MMng 0.448m 0.520m Total volume 1113 48m 133.526m Tetet value In S$ *****8m 1**.771m Saadag volume 6.i96m 7.804m Nasdaq volume _H« Ml

BONDS, LOANS WARRANTS Transaction date: April 15, 1998 I X _B L'l 1 11 Vl ■STBTBTai r *!__3 _."*iT _0 laat Val Day Laat Ouata M Avg Ma* Law Cii>i«i Sam *ar- 000 Mtgn Lav ftwyar Saftar Prtea 234 9 m mAMD8c5.5%*****6 M 204 ft A Ac«r W0W731 US$ 13

SESDAQ C— Laat Val Day ftfi Nat M Cap Wt Ay, I UN* u» cumin mm tarn moo gg t— r gr_ nna 134 92 a AftftHMajSc 104 *1 MKM 99.5 464 KM I 243 7ft t ASAuto»c...._ M4 -1 153 MS 104 15.0N 15.3 210.1 M9 82 4ft4 a

KUALA LUMPUR hh» in c— tm roow »/i 310 WO AJ*oomoto 260 unch 3 14J 148 73 AngMsa S3 -3 19 19 290 123 ApoHeFMdHtg 180 12 S 5 2 38« 190 Bar)«yaLand 322 4 201 IM 374 SIS Bar)aya Singer 139 -IS 276 7.S 510 267 C&CMnteng 460 -IS

Hang Seng slides HONGKONG Shares dropped 0.4 ner cent yesterday on profit-taking, reversing early gains on the back of an overnight rise on Wall Street "Profit-taking on mainly financial and property stocks dragged the market down," said Delta Asia Securities research director Ricky Tarn. The key Hang Seng In- dex

FTSE-100

SICOM FUTURES A pril 15,1998 #*>ii rnt«r»t (Cluhii prices) MS 1(T S imy< IHHHHHIHI^^JSC^f "BB r OifllHMH|^^ X -^J C^ I »»^l^^»4Oo ZOO l^ UOS^k s&fcsT3 m° i M2.508 Apr/ k^ IMJ^^B 1 T77.7S WL7S4^^H Hj| 3 (0$ cantlAg) I T7I7S **11* 74J0 74.00 T4 -°^K*<> >«» B M ISt*

GOLD ■Til^^^— TT^TM RJujGII23H kjjk.lkbgdfhmkmgg yulylgogvig .ylglhggvm-

CURRENCY SinQAport 4o9aa_rs to on* unit of tofoiQn curhtncy USaoHar _3TBt ***** aaVMaa/ammt 2.6372 2.7277 AiiUflllP .ißai too*3 ***** Cwi-w aalar 1.0933 112*3 NZaaaar O.BSTI ***** ECaaft 1.7809 Singapore toaari to 100 units of foreign cufraacy Austrian scNMno. 12.2202 12.8928 Watfaammm 4.1*39 4.3827 Danttkranar 22-363* *****2 CVa*jticl>#**AAni 60. 9496 09.6090

HONGKONG STOCKS Thim^bß MM ASMPacMc 5.50 ♦O.KX) MMMM1 O2S -0.01 MXOwrm 0.52 *O.01 4UU Sac M L04 -0.05 «f CA 15J5 +O.XS COMMIX LU »0.02 COt Hat* 170 -0.07 Ca*t 0* Coral LS7 -0.03 CMthP&cMk 4.90 ♦OK) CanturrCltY 121 *0.03 Cliowia.Kana. 55^0 -1.75 CMnaUgM 38.00 *0.20 CMnaMotorBitt 44.00 -0.50 CWcPadfk

ASIAN CURRENCY UNITS mfdmmfmfg

CRUDE PRODUCT PRICES _B— _Z___ l ____T i ~i

BANK RATES Oarn Claaa U99/DMR ***** 1900* USVYan ***** Ut9W U***** 1.5930 18*88 USVHK9 T.T49S 7.T480 AB/USB 0.*473 0.6*4CAI99 ***** 1.6784 Sourca: tXCO AP SPORE

PALM OIL _-_a paan aa MVlasas) AprM 2^80.00 (Sort *****88 08 May 99 672.50 <aa*ar) Jun 880.00 (saNar) May 99 700.00 (saltar Jim BTTJo(aaBar) RSOStaartn

SIMEX FUTURES April 15 1998 U •twrtCf** O— W0I L— >tH WYil MlyM 13 45 13.45 13.45 13.45 12 Jut 13.90 13.90 13.77 13.90 272 ■M 14.28 0 Ad Vol (Tut* 172. 0»*n M (Tut): 24. feat US Hhr/JumM Y «i 0|» MH» L— WM ErtVI JWI*« «».*7 I29.SS 12».»7

SILVER Ctoaaag artcaa (USSAroy m) Tap BMB Man Tap Haw York *****9 *****0 Sourer ROTHSCHILD

TIN qaaa-i prtaaa 6-9/I— > KLTht $20.50<*0_7) Turnovor 48(*H>

CLOB INTERNATIONAL VZacTZHphnT^l P-.. 1 Cmr LMt V«l Bay «nm Nat Mte >"» i*» C— y TrX— faO *f -000 MH» iw <»» y/t »3 US 28 m I AIMSOc 783 -33 477 SI 7*3 5.0 32J 80.5 •5.5 123 m, AMMSOc 3J.S -1 966 34 5 32 s!o 10.0

KL COMPOSITE

DOW JONES

JAKARTA COMPOSITE

SET INDEX

HANG SENG INDEX

NIKKET STOCK AVERAGE

IMF/ WORLD BANK MEETING

Reforming global financial system LEE SIEW HUA Reports by US CORRESPONDENT CAMDESSUS: Proposals GFLLDF;LTD;LSL Plans at the Washington meeting of 22 nations include beefing up national financial systems and forcing private sector to better weigh risks WASHINGTON From all over the world, financial ministers and central bankers have come to

Think disclosure, transparency first THE RUBIN GAME-PLAN WASHINGTON Think about making loans conditional on the transparency of a country's financial system. This new move was proposed by Treasury Secretary Robert Rubin on Tuesday. He said the International Monetary Fund and other lenders should "publicise their concerns about important gaps in

UNIT TRUSTS Absrdisw Asaat Mgt Asia Lte Abtrdttn S'port Gr Fund 0.943-0.991" Oirdn-tslsetP'srWUKaOlAV) Asian Flitd Incom* Fund 0.906** PacHk Cgultv Fund 0.978** MsnttlanEcultyFund 0.920" Malaysian Equity Fund to*3~ r-iWpHn.DMtvFund 0.950~ Slngaport Equity Fund a9o«** Thailand CquKy Fund 1.060** All Gwrttt (Asia) Ltd Govott Asia PaeMk Growth Fd 0.C89-0.934* Govttt Global

Intel results exceed forecasts First-quarter earnings drop 36% to $2b and chip-maker plans to cut 3,000 jobs over the next six months SAN FRANCISCO Intel Corp, after warning last month that sales ana earnings for the first quarter would be weaker than expected, reported on Tuesday that its financial results

Seagate chalks up huge losses COST OF WEAK DEMAND Worldwide §lutofdisk rives eroding profit margins SCOTTS VALLEY (California) Seagate Technology Inc reported on Tuesday a big third-quarter loss as a result of falling prices and weak demand for its computer disk drives, but said parts of its business were improving.

Court appoints receiver for Kia car unit SEOUL A South Korean court yesterday initiated receivership proceedings for bankrupt Kia Motors Co in a crucial move which sets the stage for the car maker's sale to a third party. The decision by Seoul District Court judge Lee Kye Hong was the

Was Tokyo behind record US bill sale? WASHINGTON On Monday morning, the New York Federal Reserve Bank sent out an unusual electronic message asking traders for bids on the biggest block of US Treasury bills ever sold at one time on behalf of a customer. Although the Fed did not

Japan's economic reforms will 'spur Asian recovery' JAPAN is taking the right path in its economic reforms and this should spur a recovery in Asia, says Japanese investment house Nomura. Nomura economists argued that the widespread criticism of Japan's stimulus package to revive its economy was unjustified. "Hiere is a

US car firms seek more Manila concessions LUZ RAGUIORO By I\ MANILA AMERICA'S three leading car assemblers yesterday pressed the Philippine government for more concessions as Ford Motor Company prepares to re-enter the local market after a 15-year absence. Representatives from Chrysler, Ford and General Motors on a visit to

Far East to get 193m from Eastpoint sale Property giant denies selling mall to ease cashflow and says there is nothing unusual about deal PROPERTY giant Far East Organization will reap a huge return of nearly 90 per cent on its $193 million sale of Eastpoint mall in Simei to

DPI plans new S'pore facility GLOBAL EXPANSION TEXAS DuPont Photomasks, Inc (DPI) has selected a site in Singapore for a new photomask production facility. The site will service the growing number of semiconductor manufacturers in Singapore, and the rest of South-east Asia. It plans to invest US$5O million (5580.6 million)

Indonesia set to lift palm oil export ban JAKARTA Indonesia yesterday tried to remove confusion over its ban on crude palm oil exports, saying it will adhere to an agreement with the International Monetary Fund (IMF) and end the embargo next week. The ban will be lifted on April 22

HSBC to buy HK office building HONGKONG HSBC Holdings pic will buy an office building in Hongkong for HK$4.O4 billion (SsB4s million), its biggest investment in the city in a decade. The London-based parent of Hongkong Shanghai Banking Corp will buy a 900,000 sq n space in the Kowloon building,

MBf Capital in the red Subsidiary MBf Finance also suffers full-year losses with bad loans comprising 21 per cent of total loans KUALA LUMPUR MBf Capital Bhd, which owns Malaysia's largest finance company, yesterday reported a first-ever net loss of M5566.4 million (***** million) for 1997, reversing a M5299-5 million

ABR plans cool move into HDB CHAN WEE CHUAN *L ABR Holdings, the lossmaking ice-cream parlour operator, yesterday served up its new ingredients for success: a top-notch ranee of its famous Swensen s ice cream, an expansion into the residential heartland and a makeover for its chain. The new range,

STIC targets at least 10 new Bintan tenants DESPrTE the regional turmoil, mainboard-listed Singapore Technologies Industrial Corp (STIC) still hopes to attract 10 to 15 more tenants to its industrial park in Bintan this year. "It is not a total standstill, but it just takes a lot of effort to

Centrepoint Prop delays projects SERVICE APARTMENTS Group taking its time with Malaysian and Viet flats SINGAPORE'S third-largest service apartment operator, Centrepoint Properties, has slowed down its service apartment projects in Malaysia and Vietnam because of the regional economic turmoil. And, at home, Centrepoint and its parent Fraser Neave expect a

KL may cancel 4 broker licences KUALA LUMPUR Malaysia's Securities Commission warned it was ready to cancel the stock-trading licences of four local securities firms and told another three to submit merger plans within two weeks. It said it wrote to Capitalcorp Securities, Kin Khoon Co, Labuan Securities and MBf