The Business Times, 18 January 1997
1997-01-18
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The Business Times
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Title Section15 1997-01-18 1 THE BUSINESS TIMES MITA (P) 028/12/96 Internet http://www.asial.com.sg/biztimes SINGAPORE WEEKEND EDITION, JANUARY 18-19,1997 85c v15 words
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Article64 1997-01-18 1 O 2*121 (+23.85) wmwTSU U VMM (+17.65) VTOOHP 228&00 (+22.31) mm mma U MMJ3 (+23.53) 8T0CI MARKET INDICES Friday Change COMP 1,224.56 +1*11 NIKKH I8JMQJ4 MM HANGSENG ll.8M.4t +*.71 SET INDEX OUt +M6 JAKARTA COW—NM7 *1X7 MANILA COMP—1»4J1 *4.11 TAIPH WFI 7,***** «N SEOUL OOMP 701.18 -10.68 CUBA64 words
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Article72 1997-01-18 1 nH ,An rsj si un im S 1J77 1367 DM 9.825 9.878 YEN IN 0866 120! Ml 0.403 OJM HKS 0.t» 0.182 BART 0.089 0.066 RUPIAH III 0.043 0.069 FUME BATES SINGAPORE* 1 144 KUALA LUMPUR- IIS JAKARTA 18.00 BANBNML 11S M/0RLA 13.50 HONGKONG JLM TAIPEI IIS SYDNEY .10072 words
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600 1997-01-18 1 Genevieve Cua - Minister says this will allow tender to focus on quality Reports by Genevieve Cua [SINGAPORE] Communications Minister Mah Bow Tan yesterday announced a structure of fixed licence fees to be paid by new telecoms operators from April 1, 2000, sending out600 words
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247 1997-01-18 1 [SINGAPORE] New licensees of basic telecommunications services are expected to roll out their own infrastructure, which includes international exchanges, gateways and frontier stations. Callback services by licensees will not be allowed. These requirements are set out in Telecommunication Authority of Singapore's247 words
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Article, Illustration713 1997-01-18 1 Larry Wee Christopher Tan - Some dealers nse savings to cnt sticker prices, some don't By\ Larry Wee Christopher Tan [SINGAPORE] In case you're wondering if the softening yen and mark have translated into lower car prices here, the answer is yes. And no. The yenSource: Dow Jones Telerate - 713 words
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Article, Illustration210 1997-01-18 1 R Sivanithy - By R Sivanithy [SINGAPORE] A huge inflow of foreign funds yesterday boosted property stocks by some 4 per cent and sent the Straits Times Industrials Index 23.85 points higher to 2,244.21. Volume swelled to 313.66 million units worth $629.18 million, the first time since lastSource: Bloomberg - 210 words
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Article, Illustration53 1997-01-18 1 [SINGAPORE] Many old shophouses and buildings in the central business district, some dating back to pre-war days, are getting a new lease of Itfe. With its bright blue and red facade, this six-storey building in Middle Road, for instance, now stands in sharp contrast to itsARTHUR LIE - 53 words
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Page 1 Advertisements
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Advertisement106 1997-01-18 1 HgMMffrn ■dlittlH The vitamins and health supplements market is big business in Singapore, ELI What to expect in the new year, P»4 MHWBTMJDB pg 7. Numbers look very attractive. OlhtomaH km*, anmatsmrdn,;* 7. The only change appears to be that the bankers prefer to have part of the bonds secured.106 words
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Advertisement54 1997-01-18 1 4' i W yW m >/ buxm^m 6flH^r/^K^^SL QC 3 x I 150 YEARS OF HISTORY AND ROMANCE Cartier boutique/ Singapore Millenia Walk. #01-22/23, 9 Raffles Boulevard. Tel: 339 0183 Ngee Ann City, Tower B, #01-11, 391 Orchard Road. Tel: 734 2427 Hilton International, #01-04, The Shopping Gallery, 581 Orchard54 words
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SINGAPORE AT HOME & ABROAD
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Article, Illustration464 1997-01-18 2 Jennifer Lien - Plan is for STpore plant to contribute 15% of Sony's total computer tube needs By Jennifer Lien CATHODE ray tube maker Sony Display Device Singapore (SDS) has invested $95 million in its first computer monitor tube production line here. This brings SDS'464 words
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352 1997-01-18 2 Michelle Low - Tan 4 Tan will take 40% stake in service apartment venture By] Michelle Low PRIVATELY-OWNED SUTL Corp has roped in Malaysian listed property group Tan Tan Developments Bhd as a partner for a US$25 million (Ss3s million) service apartment project352 words
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167 1997-01-18 2 THE Telecommunication Authority of Singapore yesterday signed a memorandum of understanding to extend its R&D collaboration with the National University of Singapore and Nanyang Technological University. In a speech during the signing ceremony, TAS director general Leong Keng Thai said there was an167 words
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329 1997-01-18 2 STEPHEN LEE has been reappointed to a second two-year term as chairman of the Trade Development Board, and property developer Kwek Leng Joo joins the board as his deputy. Mr Lee, managing director of Great Malaysia Textile Manufacturing Co and president of the329 words
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Article48 1997-01-18 2 Corrections clarifications VISA International Asia-Pa-cific has said that its Visa Interlink debit card is 100 per cent on-line PIN-based and not signature-based as was reported in a BT article headlined "Riding on the coat-tails of Maestro" on Jan 16. Visa's flagship debit card, Visa Debit, however, is signaturebased.48 words
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Article, Illustration371 1997-01-18 2 Ang Wan May - Investors being sought for two other food courts By, Ang Wan May TAKE a share in a food court and earn more than 20 per cent returns on your investment yearly. This promise, made to investors about a year and371 words
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Article226 1997-01-18 2 DEPUTY Prime Minister Tony Tan will join some 2,000 business and political leaders, academics and members of the media at the annual meeting of the World Economic Forum (WED in Davos, Switzerland. This year's meeting, cochaired by John Bryan, chairman and chief executive of226 words
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Article, Illustration394 1997-01-18 2 Oovernor Wilson wants SPpare to bay aircraft from his state CALIFORNIA and Singapore yesterday agreed to step up cooperation in the fields of hitech industry, tourism and tertiary education, kicking off one of the concrete steps identified by the newly-formed Singapore-United States394 words
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280 1997-01-18 2 ABOUT seven weeks after it launched its personalised phone banking service for retail customers, United Overseas Bank yesterday announced the launch of an electronic banking service targeted at small and mid-sized corporate customers. Called E-Banking, it is banking through the personal computer. According280 words
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Page 2 Advertisements
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Advertisement102 1997-01-18 2 Urgent Carpet Liquidation Auction Immediate Forced Sale instruction from an Iranian Carpet Dealer to liquidate a stock of 152 pieces very high quality. FINE PERSIAN CARPETS and RUGS by Public Auction at any price WITHOUT RESERVE to offset debtors' demand. AN AUCTION NOT TO BE MISSED iew i 11«_» Sal102 words
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Advertisement184 1997-01-18 2 </> WITH A DIFFERENCE We odualymeosured ou rooms 0 ond discovered Hwt ours ore Q probably one of the most spocious yool Jo make it an even better offer, we compliment if wilh: Welcome Drink Coffee/Tea making fodhies CP Hour ittase video Newspaper Swimming Pool usage Subject to 10% service184 words
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Page 3 Advertisements
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Advertisement315 1997-01-18 3 WE HAVE •••golf clubs, drivers, i woods, irons, putters, sand wedges, golf wear, golf shirts, visors, straw hats, caps, bucket hats, gloves, golf shoes, socks, golf accessories, golf bags, travel covers, umbrellas, corporate logos, golf ALL YOU NEED 1 j Because Pan-West knows golf best Indeed we do. At Pan-West,315 words
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FOCUS: PERSONAL FINANCE & INVESTMENT
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BULL'S SEYE
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Article, Illustration730 1997-01-18 4 Those polled for their views on next week's Singapore stock market outlook are: ING Barings, Daiwa Securities, Fraser Securities, G K Goh, Deutsche-Morgan, OCBC Investment Research, Peregrine Securities, Phillip Securities, Merrill Lynch. CSA Holdings Ltd ♦(Accumulate) Merrill Lynch, Jan 17, $1.51 CSA Malaysia's IPO on the KL730 words
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Article, Illustration340 1997-01-18 4 Stewart Alcroft - Stewart Alcroft marketing, sales director, Templeton Franklin Investment Services (Asia) TATISTICALLY, it is impossible to ignore kJ China. A population of over 1.2 billion people now beginning to adopt developed world consumer tastes has provided a golden opportunity for many businesses to participate in the staggering economic340 words
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Article1227 1997-01-18 4 Winston Koh - Rupiah returns are likely to be the most attractive although yields this year from Asean currencies may be lower By Winston Koh The writer is a vice-president and head ofJP Morgan's Asian Emerging Markets Research [SINGAPORE] WHICH Asean currencies did you put your money into in1,227 words
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Article, Illustration611 1997-01-18 4 Kostas Panagiotou - EYE ON THE REGION: MALAYSIA Better trade balance, likely easing of loan growth point to sustained reduction of rates By] Kostas Panagiotou The KL-based writer is a senior economist at Kim Eng Securities IS Malaysia's mild economic slowdown coming to a premature end? Has there611 words
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Article, Illustration511 1997-01-18 4 Christopher Tan - The ERP and more imports by the grey market likely to take place this year By* Christopher Tan [SINGAPORE] Motor traders, car owners and car buyers are likely to face swirling changes in 1997. The Electronic Road Pricing (ERP) system could be operational byFILE PHOTO - 511 words
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Article307 1997-01-18 4 Recommended portfolio weights for BT-SRI Stocks CO»U!UBimON PRICE AS DBSS RECOMM STOCK i TO SRI AT JAN 16 RECOMMENDS DBSS WTS A 0.42% UStl.72 Buv 0.73% OB+m 3.35% Sf 10.40 Accumulate 3.69% WiMlhl 0.54% US$3.90 Accumulate 0.67% Owl»4(lMr 4.08% SI16.90 Accumulate 4.06% DMBnk(F) 5.47% SI19.20 DBSS'parent 5.47% PalryflMf307 words
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REGION
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NOTE Book
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66 1997-01-18 5 Bloomberg Business News [HONGKONG] Hongkong chief executive-designate Tung Chee-hwa is considering appointing representatives of major investors from China, the US and Britain as his top advisers, the Hongkong Standard reported. Mr Tung is considering Chase Manhattan Bank Hongkong managing director Antony Leung, China MerchantsBloomberg Business News - 66 words
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68 1997-01-18 5 AFP [HONGKONG] Deng Zhifang, the son of China's paramount leader Deng Xiaoping, was under pressure to sell his telecommunications company, a report said yesterday. The Chinese-language Apple Daily, citing sources close to Mr Deng's family, said the company, Wanxin Telecommunications, was put onAFP - 68 words
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Article50 1997-01-18 5 AFP [BANGKOK] Thai Prime Minister Chavalit Yongchaiyudh and Jean Chretien of Canada here yesterday witnessed the signing of 55 new business deals worth more than Csl billion (551.04 billion). The deals included C 5614.1 million in commercial contracts and C 5407.7 million agreed in principle. —AFPAFP - 50 words
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54 1997-01-18 5 Reuter [MANILA] The Philippine government yesterday said that trade deficit widened to record levels in November, but analysts said this was not alarming. It said merchandise trade deficit in the first 11 months of 1996 reached USsslo.9s billion (5515.3 billion) against US$B.l4 billion in theReuter - 54 words
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326 1997-01-18 5 Harish Mehta - SINGAPORE By] Harish Mehta CAMBODIA is sending its ageing fleet of MiG-21 jet fighter aircraft to Israel to be refurbished, under a recent deal signed between the two countries, said Cambodian Royal Air Force (CRAF) commander Norodom Vath Vanny. This deal326 words
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Article, Illustration65 1997-01-18 5 [MANILA] Protesters staging a rally yesterday near the Malacanang Presidential Palace to denounce the recent oil price hike. The 3.2 per cent increase was one of several periodic oil price adjustments that Manila will be carrying out as part of a six-monthAFP - 65 words
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243 1997-01-18 5 HANOI French company was to have built complex with Viet partner AFP VIETNAM has withdrawn the licence for a major Frenchbacked hotel and vacation complex costing US$264 million (Ss37l million) near Ho Chi Minh City, the Imo Dong newspaper said yesterday. TheAFP - 243 words
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179 1997-01-18 5 PALO ALTO, California Bernama MALAYSIAN Prime Minister Mahathir Mohamad said allegations of discrepancies in the award of a Telekom Malaysia Berhad contract to Swedish company Ericsson Telecommunications Sdn Bhd for the supply of equipment must be investigated. "I do not have much information. IfBernama - 179 words
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531 1997-01-18 5 Anthony Rowley - TOKYO Bat they will only contribute USs3b while bank has to top up with own funds By, Anthony Rowley THE Asian Development Bank (ADB) announced yesterday that donors to its soft loans window, the Asian Development Fund, which lends money at very low531 words
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259 1997-01-18 5 KUALA LUMPUR AFP MALAYSIAN Primary Industries Minister Lim Keng Yaik has become the second senior minister to be accused in a government share scandal, reports said yesterday. In a long court case which also involved International Trade and Industry Minister Rafidah Aziz, Mr LimAFP - 259 words
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383 1997-01-18 5 TOKYO Govt to watch how forex rates affect imports and exports Bloomberg Business News JAPAN'S Minister for International Trade and Industry, Shinji Sato, said he's paying more attention to the foreign exchange market than to stock prices to gauge the directionBloomberg Business News - 383 words
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Article1726 1997-01-18 5 CITY FUGHT ETA FLIGHT ETD Abu Dhabi BY610 2025 GA890 0120 Mmofca S0989 1730 S0990 0115 BY609 0735 Gnangzhou C23S1 2035 Adelaide S0230 1815 0F82 2050 Hanoi VN741 1310 S0176 1130 Of81 1930 BY6N) 2140 S0175 1910 VN740 1410 Amman RJ187 0130 Hat Yal MI893 14151,726 words
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255 1997-01-18 5 HONGKONG THE International Monetary Fund has shortlisted four contenders for its Asian headquarters: Hongkong, Singapore, Tokyo and Kuala Lumpur. A South China Morning Post report quoting a senior IMF official here said a final decision is expected to be taken by the end255 words
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THE WORLD
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491 1997-01-18 6 WASHINGTON Lower oil imports and better business with China, Japan help to check gap Reuter LOWER oil imports and improvements in business with China and Japan kept the US trade deficit from growing as sharply as anticipated inReuter - 491 words
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344 1997-01-18 6 WASHINGTON Reuter THE White House on Thursday strongly denied that President Bill Clinton made an about-face last year on immigration policy after being pressured by Asian-American contributors to the Democratic Party. "This really borders on being outrageous," said White House spokesmanReuter - 344 words
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446 1997-01-18 6 RICHMOND, Virginia But he's optimistic on US economic growth, financial markets Bloomberg Business News THE US economy is operating at a high level and there's a risk of accelerating inflation, Richmond Federal Reserve President J Alfred Broaddus said yesterday. "The upside risk onBloomberg Business News - 446 words
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258 1997-01-18 6 LONDON Reuter BRITAIN'S public sector deficit is nearly double most forecasts in December but economists said the government's target for the financial year remains within reach. Britain's public sector borrowing requirement totalled £2.12 billion (Sss billion) last month, the Office for NationalReuter - 258 words
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232 1997-01-18 6 WASHINGTON Bloomberg Business News A NUMBER of tax strategies popular on Wall Street will be on the line next month when President Bill Clinton unveils his new budget. While final decisions have not been made, Mr Clinton is considering tax law modifications toBloomberg Business News - 232 words
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88 1997-01-18 6 WASHINGTON NYT A REPORT by the independent counsel for the House ethics committee is highly critical of Speaker Newt Gingrich for his admitted ethical lapses and recommends a heavy fine. It also suggests that the matter be turned over to the Justice DepartmentNYT - 88 words
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Article, Illustration245 1997-01-18 6 WASHINGTON A Gallup survey shows the president has 62% approval rating Reuter US PRESIDENT Bill Clinton will begin his second term with the highest approval rating since he came to the White House in 1993, according to a new CNN/C/SA Today poll releasedReuter; REUTER - 245 words
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259 1997-01-18 6 BONN Reuter THE German government yesterday rejected mounting speculation that it would miss borrowing targets this year, saying it would meet the deficit goal set in the Maastricht Treaty to qualify for European Monetary Union. At a news conference, Finance MinistryReuter - 259 words
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Page 6 Miscellaneous
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Miscellaneous419 1997-01-18 6 CRYPTIC CROSSWORD 10 Crusoe's disastrous voyage (6) 12 Go off each and every player (6) Rejected sweets still put seen (4) IBTiBI 21 Robber group carrying equip--25 Get depressed when left suffer- Because anger (6) JIIZ-JBIZ 29 Being nice about plug falling Lh| 30 Companies have a point in sup-419 words
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Miscellaneous62 1997-01-18 6 DOOHESBURY By Garry Trudeau MM, WJCOVLPtfTBE I tHATS RIGHT, MtK£! IN FACT, I \Sfmmmmmvl \mSmf UN£&? MANY OF TH6M nvT UNe? ARE CAREFULLY WHICH WEvE ONLY JUST R£ imini UEHAV& j I w I is war weeneACCURATE INFORMATION AVAJL- I TRUE? ?V£ CHN6/YOU ABL3! BUT SOMETIMES, WHEN AUUWSSKW MZRENT a62 words
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COMPANIES & MARKETS
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475 1997-01-18 7 Siow Li Sen - Most companies find substitutes in exec director or senior management official By I Siow Li Sen [SINGAPORE] A slew of listed companies have replaced their chief executive officers (CEOs) on their audit committees since the Stock Exchange of Singapore spelt out wide475 words
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223 1997-01-18 7 [SINGAPORE] Guthrie GTS Ltd said yesterday it had restructured a fund-raising exercise involving the issue of bonds and warrants. In consultation with ABN Amro Bank, Guthrie now proposes to issue $75 million worth of 3 per cent secured bonds due 2002 and $55 million worth223 words
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109 1997-01-18 7 Reuter [MELBOURNE] Shares in Grand Hotel Group Ltd leapt over 7 per cent to A 51.92 yesterday after an announcement late on Thursday that ING Barings had sold its 39 per cent stake to Singapore's Tuan Sing Holdings Ltd for A 52.05 perReuter - 109 words
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706 1997-01-18 7 Russell Baker - HOCK LOCK SIEW Russell Baker LAST August when Malex Industries announced that it was acquiring 20 per cent of Brierley Investments Ltd (BIL), it said the deal would provide access to the New Zealand group's "technology and intellectual assets through joint ventures".706 words
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Article, Illustration462 1997-01-18 7 Soh Tiang Keng - Trading on Sesdaq expected to start on Jan 31 !iy I Soh Tiang Keng [SINGAPORE] ASJ Holdings, makers of resistors for electrical and electronic products, yesterday launched its move for a public listing with an initial offer of 15 million new sharesARTHUT LEE - 462 words
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206 1997-01-18 7 [SINGAPORE] Small investors will get more than 40 per cent of food and vegetable distributor FHTK Holdings' initial public offer of 85.5 million shares at 60 cents apiece. Applicants for up to 9,000 shares will get 1,000 shares each, making up 43.4 per cent206 words
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REGIONAL/INTERNATIONAL COMPANIES
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93 1997-01-18 8 [SINGAPORE] Hotel Properties Limited has bought out its partner in Waterfront Cruises Pte Ltd for $1. The company said yesterday that its subsidiary, HPL Tourism Leisure, had acquired 150,000 Waterfront shares from Arumugam Neysadurai, formerly a Waterfront director. The $1 par value shares account93 words
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Article, Illustration472 1997-01-18 8 S N Vasuki - Funds sell Telkom on probe talk; analysts sceptical abont merger with Indosat From S N Vasuki in Jakarta INDONESIA'S listed telecommunications carrier, PT Telkom, has witnessed unusually heavy trading volumes in recent days on a variety of unconfirmed rumours. Market talkSource: Bloomberg; ALLAN - 472 words
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Article, Illustration428 1997-01-18 8 New firm expected to generate USs2ob in annual revenue Bloomberg Business News [LEXINGTON, Massachusetts] Raytheon will buy the defence operations of General Motors Corp's Hughes Electronics division for US$9.5 billion (5513.3 billion), creating America's third-largest aerospace and defence company. GM saidBloomberg Business News; REUTER - 428 words
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Article, Illustration362 1997-01-18 8 Bloomberg Busi ness News Reuter [NEW YORK] SGS-Thomson Microelectronics NV's American depositary receipts rose 2.9 per cent following reports that the semiconductor maker could be opened up to new industrial partners. SGS-Thomson Microelectronics' ADRs, each equal to one share, roseBloomberg Busi ness News; Reuter - 362 words
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Article178 1997-01-18 8 Bernama [KUALA LUMPUR) Kemayan Corporation Bhd has signed a conditional agreement with two vendors to acquire the entire equity of Kejora Duta Sdn Bhd for Msl3s million (5576.4 million). The purchase consideration would be satisfied by the issue of 58.695 million new KemayanBernama - 178 words
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262 1997-01-18 8 M IRVING, Texas Improved oil, natural gas prices likely to lift EPS to US$l.52 Bloomberg Business News EXXON Corps fourth quarter earnings are expected to climb, fuelled by sustained higher oil and natural gas prices profits. The largest US oil companyBloomberg Business News - 262 words
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212 1997-01-18 8 Jenny Lam - Jenny Lam [SINGAPORE) Super Coffeemix Manufacturing Ltd has formed a new joint venture company with two partners to set up a plant here to manufacture soluble coffee for sale and distribution in Singapore and abroad. Its partners are Indian company Continental Coffee Limited212 words
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Article, Illustration235 1997-01-18 8 FT [FRANKFURT] Helmut Werner, the man who turned Mer-cedes-Benz into Europe's most profitable motor company, has resigned as chief executive after losing a power struggle with Jurgen Schrempp, chairman of Mercedes' parent company Daimler-Benz. Mr Werner fiercely but unsuccessfully resisted Daimler's controversial plan toFT; AFP - 235 words
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455 1997-01-18 8 Philippine phone firm expects '97 losses to shrink to 321 m pesos Bloomberg Business News [MANILA] Globe Telecom Inc estimated its losses grew to 750.9 million pesos (Ss4o million) last year as the company set aside funds for fraudulent use ofBloomberg Business News - 455 words
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264 1997-01-18 8 Bernama [KUALA LUMPUR) Malakoff Bhd, in a move to enter into the power and energy business, yesterday announced that it has accepted an offer to provide a co-generation plant to supply power and steam requirements to Malaysian Newsprint Industries (MNI) Sdn Bhd. The plantBernama - 264 words
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FINANCE & COMMODITIES
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442 1997-01-18 9 Investment bank splits business into securities and asset management FT [LONDON) Three leading candidates for the highest offices at Morgan Stanley emerged on Thursday as the US investment bank split its business into two main areas securities and asset management and created twoFT - 442 words
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489 1997-01-18 9 Govt likely to okay scheme which will create USssb market Bloomberg Business News [HONGKONG] With a tripling of staff this year to 19, Stuart Leckie says Fidelity Investments will have a hammerlock on the hottest new market for Asian money managers: US$5 billion (Ss7Bloomberg Business News - 489 words
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Article, Illustration447 1997-01-18 9 USS/mark: The US dollar continued its climb this week, touching a high of 1.6000 by Wednesday. Sellers emerged strongly at 1.6000 and pushed the unit down to 1.5862 on the same day. However, bulls were not daunted and returned the USS/mark to the 1.5970 level yesterdaySource: DBS Bank; ALLAN - 447 words
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306 1997-01-18 9 FT [TOKYO] China last year outstripped Japan to become the world's largest crude steel producer for the first time, according to estimates released on Thursday by the United Nations Economic Commission for Europe. The US ranks third, followed by Russia, GermanyFT - 306 words
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253 1997-01-18 9 FT [LONDON] Nicola Horlick, suspended on Tuesday as one of Morgan Grenfell Asset Management's top fund managers, on Thursday night resigned as a director of MGAM and claimed she had been promoted by the company last week in an attempt to halt an exodusFT - 253 words
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Article, Illustration1465 1997-01-18 9 DfTERBAlTK CROSS RATES J(m A$ C$ 8wfc ECU Hr Om WU NX H frpiah Ytt W MS MZS Pafc Bi P>w S$ Mmt. Sft MT$ lit Po—d US$ Australia 1.044 6.178 0.639 4.196 1244 4J* 27.887 18.433 0.909 6.604 1931 L096 ***** 20.463 1.093 3.638 1075 ***** 19.964 0.444 0.7781,465 words
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Article243 1997-01-18 9 Report Reuter [SINGAPORE] Japanese government bond futures (JGBs) fell yesterday following comments by a senior Japanese life insurance industry official. Kenjiro Hata, chairman of the Life Insurance Association of Japan, was quoted as saying some life insurers might sell domestic and foreign bondsReuter - 243 words
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Article154 1997-01-18 9 Reuter London THE dollar rose sharply in the wake of a US trade deficit for November that was much lower than expected. The US trade deficit in goods and services increased in November to US$B.4 billion (5511.7 billion) against US$B billion in October, but the latest figure wasReuter - 154 words
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322 1997-01-18 9 EMERGY REPORT Reuter [LONDON] Oil prices slid yesterday, as they fell below US$23 for the first time this year. But traders, fearing a rerun of last year's late winter rally, seem reluctant to predict an end just yet to oil'sReuter - 322 words
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Article1658 1997-01-18 10 SICOM FUTURES Jam? RUBBER (futures dosing u «t 5.30pm) RSS1 C0*TRACT(S cMto/kf) CtoM Vo<um« Opto Month tti9fc tow Sttt (towwts) lotamt Ftfc 97 173.75 1175 Mar 97 176.25 1775 Aor 97 178.00 1175 MM 97 179.00 1325 jhii 97 180.00 1175 Wscp 97 182.00 182.00 181.25 75 53101,658 words
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Article1639 1997-01-18 10 Reuter □WktaiaS -64.30 STOCKS closed slightly lower yesterday as early gains mainly prompted by buying back in the construction sector lost momentum. Cautious investors retreated to the sidelines ahead of Monday, when a session of parliament opens, brokers said. The 225-share Nikkei Average, which rose over 300 points earlyReuter - 1,639 words
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Article2264 1997-01-18 10 LONDON Mistrials JmIT AB Ports 291.400 -1 Abbey National 779 -4 Allied Domecq 412.400 -7.600 AIMC 91.400 .400 Asda Group 126.400 -.600 BATInd 496 -6.400 BICC 270 unch BOC Croup 899.400 -5.600 BR Petroleum 713.400 unch BTR 251 -1 Bank of Scotland 334 4.600 Barclays tm -12,264 words
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Article, Illustration1621 1997-01-18 11 AFX-Asia Hang Seng +25.72 SHARE prices closed off their highs yesterday, with Financials continuing to prop up the market. Dealers said the overnight gains on Wall Street helped lift sentiment further, but there was also a degree of cautiousness in the market ahead of the weekend and the releaseAFX-Asia - 1,621 words
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Article, Illustration678 1997-01-18 11 Reuter PI Shenzhen B Index +L5O SHENZHEN'S A and B share indices closed up yesterday due to demand for counters promising solid earnings for last year, with investors shrugging off concerns over Beijing's plan to curb the flow of bank funds into the market. The B Index gained 1.50Reuter; Source: Credit Lyonnsis Securities(Asia) Ltd - 678 words
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Article390 1997-01-18 11 AFP □wPlada -33J0 SHARE prices finished 0.5 per cent lower yesterday as investors turned cautious amid uncertainties over the market's short-term outlook. "Most investors held back from buying heavily as largecapitalisation shares performed weakly," said a trader. The Weighted Price Index fell 33 points to 7,173.42. Turnover was 2.11AFP - 390 words
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Article, Illustration738 1997-01-18 11 AFP Composite Index +&27 SHARE prices closed higher yesterday on the back of gains in selected stocks as foreign investors entered the market, dealers said. "All in all, the market is seen as strong but the volume was largely contributed by some selected stocks including BNI, 811, Telkom andAFP - 738 words
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Article, Illustration816 1997-01-18 11 AFP SET Index +9.98 SHARE prices rose 1.2 per cent yesterday as short-term speculative pressure overcame concerns over earnings and problem loans held by property firms, analysts said. Trading was moderate despite speculative bargainhunting, mainly due to expectations of poor corporate earnings in the fourth quarter, said a dealer.AFP - 816 words
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Article337 1997-01-18 11 AFP H Manila *4J2 STOCKS rose yesterday on buying of Philippine Long Distance Telephone (PLDT). The Composite Index rose 4.12 points to 3,294.31. Turnover was 14.5 billion shares worth 2.6 billion pesos. PLDT gained 35 pesos to 1,575, Ayala Corp A rose 25 centavos to 24 and Manila ElectricAFP - 337 words
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Article412 1997-01-18 11 AFP n Composite Indg -10.68 SHARE prices closed lower yesterday as profit-taking emerged after eight straight sessions of gains. "There were indications that the market might be overheating," said a dealer. The Composite Index fell 10.68 points to 701.18. Turnover was 47.6 million shares worth 742.5 billion won. FallsAFP - 412 words
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Article616 1997-01-18 11 AFP ClAll Ordinaries -0.8 SHARE prices closed marginally lower yesterday after a day of selective stock trading which saw the index briefly reach a record trading high. The All Ordinaries Index, fell 0.8 point to 2,435.5, after reaching a record trading high of 2,440.0. Turnover was 461.2 million sharesAFP - 616 words
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Article262 1997-01-18 11 Bloomberg Business News n Wellington -&23 SHARES eased yesterday after a report showed that inflation was more obstinate than investors had expected. The NZSE Top 40-share Index fell 6.23 points to 2,429.56. jb» r— ANZ Banking 8.70 unch 7200 *a*«nt»9»i Mldgj 1.30 unch 0500 Air N«« Z»»una (A) 2.78Bloomberg Business News - 262 words
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KUALA LUMPUR STOCK MARKET
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Article, Illustration579 1997-01-18 12 Bloomberg Business News n Composite Index +10J3 STOCKS rose yesterday, led by United Engineers (Malaysia), which is expected to get a boost in profit from higher tariffs for its toll roads. "Earnings will be good for 1996, as the company just raised toll ratesBloomberg Business News - 579 words
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Article7633 1997-01-18 12 Cl»w Pr|«UU «MIKLSE Compos,t« 1224.55 1214 42 *10.13 NST Industrial 6421.05 6365.40 NST Financ* *****.70 *****.38 >t9 H NST Protwrtias 3000.39 2987.90 *12.49 NST Mining 3152.99 3097.33 *55.66 Tunwwf fOOOl Main Board Voluma* 255.637 255.047 *590 Mam Board Val (MS) 1.425.353 1,378.118 Mil, C on sum ar Prod 29.842 35,3517,633 words
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WARRANTS & OPTIONS
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185 1997-01-18 13 R Sivanithy - WARRANT WATCH -By\ R Sivanithy THE surge in trading volume over the past few days not only means that foreign funds are back, but that broking counters have also sprung into play. However, because Kim Eng's warrants will expire185 words
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Article3795 1997-01-18 13 BONOS, LOANS ft WARRANTS wt '••ft/1997 Last Vol Day Last Ouota Avq High Law Stno Company Salt »«r- COOO) High Low Buyar Sailor Prlca 54 47 m 3000 m AMDBc5.5******6 49 unch 47 49 48.5 48 5 50 515 39 3160 'Acor ******1USS 48 »0.5 34 48.5 48 47.5 483,795 words
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Article2367 1997-01-18 13 MALAYSIAN STOCKS Gf 6r 1996/1997 Last Vel Day Lart Ovate H> H> VH IM M Cap High Low Stno Company Sate COOP) High Lew Buyer M»r Cw P/C Sm* 625 360 mi 5000 AISBSOc 394 M 20 400 390 392 396 53 4.9 0.4 82.1 4043 119 842,367 words
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STOCK EXCHANGE OF SINGAPORE
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Article1519 1997-01-18 15 TURNOVER ('OOO) VALUE ('000) Main CC6 Tttai Mato CK» Tata! Industrial tlO.725 48.016 156,743 198.970 82.436 281.006 rtnant# 14.069 19,559 33.628 115JS9 28.631 143.990 Hotalj 1.537 1.991 3,528 4,929 3.982 8.912 Propaftlai 16,488 21,984 38.472 90.543 28,662 119.205 Plantation 2,943 2.943 6,752 6,752 Mining 399 399 1.106 1.106 8L* 24.2641,519 words
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Article4841 1997-01-18 15 Traasaction Date: Jan 1' Or Cr M Wt 1996/1997 Last Vol Day Last Ouot* 01* Dlv Vld Net Cam Avg High Low StNo Company Sate COOO) HK>h Low Buyer C'vr P/C SmM Prtet INDUSTRIALS 5146 ASE NTSK) 200 US- 1000 900 1275 ASF US$0.***** US900 »«5 90.0 2144,841 words
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Article1021 1997-01-18 15 Or Or mm 1996/1997 Last Voi Doy Lut Owota Dt« 0* YM Not Cop A** h>h l— wm ct mi rooot l— ii»w ww c*w M >■ ww SOMA 289 135 2000 ABRMIdmSe 169 -1 3S 1T2 »9 169 170 3.0 14.2 0.1 tOS.6 75J T73 163 68 20491,021 words
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Article, Illustration61 1997-01-18 16 Shiv taneja - bjr Shiv taneja INVESTORS should consider bailing out of Cam Holdings, which yesterday closed 4.5 cents highgt at 45.5 cents, on a volume of 5.4 million shares)more than 10 times its lfHlay average. The stock Is very near its high for the year, and both daily and weekly61 words
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Article219 1997-01-18 16 Stodu VOIMM SMB United 10c 35,616,000 *MBf Hldgs 50c 9,850,000 Kim Enq Wt97 9,239,000 •Berjaya Group 8,940,000 •Berjayalnd 8,063,000 Armstrong 10c 7,408,000 'Kamunting 50c 7,112,000 Casa Hldgs 10c 5,403,000 "Multi-P Wt98 5,192,000 Uraco Hldgs 10 4,910,000 Stacks OCBC Foreign 34,098,800 DBS Land 25,777,889 Keppel Corpn 24,757,884 City Ocv 50c 23,032,600219 words
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Article, Illustration695 1997-01-18 16 R Sivanithy - STOCK MARKET COMMENTARY Also, a belief that local property firms have tnrned for the better leads to a big inflow of foreign money By R Sivanithy [SINGAPORE] Wall Street's overnight advance and a sudden belief that the local property sector has695 words
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OK THE GRAPEVINE
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Article174 1997-01-18 16 A COLLEAGUE received an interesting call from Templeton Asset Management trying to interest her in a China fUnd it is promoting. To begin with, the salesman said there was a one per cent discount on the fUnd until the end of the month. When she said she would174 words
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Article104 1997-01-18 16 MADELEINE LEE, fund manager of the award-winning Morgan Grenfell Singapore Premier Trust, is understood to have quit the Singapore-based Morgan Grenfell Investment Management (Asia) Ltd. The word is that Ms Lee is joining another firm as chief investment officer, though no one Is saying which one104 words
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Article96 1997-01-18 16 TO HELL with fundamentals. One housewife who usually takes the advice of her dealer over new IPOs was not going to subscribe for shares of fruit distributor FHTK Holdings because the dealer said the offering of 85.5 million shares was rather big compared to the other96 words
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Article148 1997-01-18 16 FORMER Hongkong immigration chief Laurence Leung has been in the centre of a controversy in recent weeks after he was forced to resign from his poet by the Hongkong government last year. Mr Leung was asked to leave after the government said it had148 words
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Page 7 Advertisements
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Advertisement995 1997-01-18 7 ANNOUNCEMENT iWk CONDITIONAL CASH OFFER for Tri-M Technologies (S) Limited (Incorporated in the Republic of Singapore) by HSBC Investment Bank Asia Limited (Incorporated in Hong Kong) for and on behalf of Surreyville Re Ltd (Incorporated in the Republic of Singapore) INTRODUCTION HSBC Investment Bank Asia Limited ("HSBC Investment Bank Asia")995 words
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Page 11 Advertisements
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Page 12 Advertisements
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Advertisement189 1997-01-18 12 Land Transport Authority Infoline "umbers 0 Results 1 INFllllillC COE Bidding Results Car Registration Number Availability. Wondering which share result An SPH AudioTex Service Available on 10th or 11th of every month. All you Available between Saturday and Wednesday each week All you need is Call OUr non- 1900 AlldioTeX189 words
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Page 13 Advertisements
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Advertisement63 1997-01-18 13 Rising Q to the cnhancc your corporate image with a self-funding special feature in our Cj c c *i c i o rfln^H I B For more information on how you to the occasion with a special •JoeHeng- Tel: 740 2481 Pg: 9306 8499 Official openings Corporate anniversaria •BO uroarSbreaking63 words
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Page 14 Advertisements
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Advertisement103 1997-01-18 14 Ranking THE MODEM AGE OF BUSINESS BANKING I IKSKSS^KHH^iaH^I BB:iia WE'RE UNITED BEHIND YOU In the modem age of business banking, you can have a bank on every desk. A A A A Because with E-Banking, our latest innovation, you can turn your PC into a desktop bank. Allowing one103 words
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Page 15 Advertisements
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Advertisement22 1997-01-18 15 ROY EASTERN WATCH, LUCKY PLAZA, #01-74, #01-86/87/88 ORCHARD ROAD TEL 734 3139 DELUXE EASTERN WATCH, CENTREPOINT, #01-18/20 ORCHARD ROAD TEL 235 2536.22 words
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Advertisement32 1997-01-18 15 FREE! If you have found something, you caii advertise for free in Classification 821 (Found) to seek its owner. I &A Call C.A.T.S. at r/pO 1800-737-1166. I CATA I Another Classified Service32 words
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Page 16 Advertisements
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Advertisement64 1997-01-18 16 > yourCPF BT 4 Can en bloc I I HI re,ums iHL'j ff ,es I I bloched? How3 people I 17— 'i achieved it I BUSINESS nek mgStoefa For I 1 I Available at Newsstands NTUC Supermarkets Caltex Published by Times Periodicals, member of C STOP PRESS kiosks 7 Eleven64 words
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Advertisement843 1997-01-18 16 THE STRAITS TIMES CLASSIFIEDYOUR GUIDE TO MORE PRODUCTS SERVICES im^TM _i NOTICE IS HEREBY GIVEN that, I Kcng Lian Guan of Blk 505, Bedok North Ave 3 #03-319 Singapore *****5. have applied for a Public House. First Class in respect of M/s River City KTV Karaoke Lounge P/L located at843 words
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Advertisement162 1997-01-18 16 In the Matter of the Companies Act. Cap. 50 NOTICE OF RESOLUTION WELLWOOD CO PTE LTD (Incorporated in Singapore) At a Directors' meeting of the above Company duly convened and held at 28-10 37th Avenue Long island City. NY ***** on die 9th day of January 1997 at 11.00 a162 words
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EXECUTIVE Lifestyle
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Article, Illustration1444 1997-01-18 17 DAVID BOEY - It's a pill popper's paradise out there with an ever increasing array of vitamin supplements and other so-called health boosters to choose from. Whatever their efficacy, sales of such products amount to a robust $30 million to $35 million every year, and there are noCHRIS LOH - 1,444 words
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STRAWS In The Wind
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Article14 1997-01-18 17 HAVE you seen this classified ad? "Apartment for sale. Potential for unblocked14 words
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Article88 1997-01-18 17 NEWSPAPERS are generally pretty serious in their outlook, though it's hard to tell from some of their headlines. Here are some gems culled from American newspapers: Lung Cancer In Women Mushrooms Stolen Painting Found By Tree Man Struck By Lightning Faces Battery Charges Prostitutes Appeal To Pope Chef88 words
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Article64 1997-01-18 17 POOR economists. Is it their fault that they're not known to be social butterflies? Visiting Governor of California Pete Wilson couldn't resist poking fun at them at a breakfast talk yesterday with members of the American Chamber of Commerce: "Economists know of 103 ways to make64 words
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VIEW POINT
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Article, Illustration2195 1997-01-18 18 VIKRAM KHANNA - THE RAFFLES Conversation His books are bestsellers, his TV shows are watched by millions, and his fans include top celebrities, tycoons and politicians. Is Deepak Chopra truly the emperor of the soul or a mere pop phenomenon? vxkram khakka meets the man who says he hasCHRIS LOH - 2,195 words
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Article998 1997-01-18 18 ONE OF the remarkable things about Deepak Chopra's books is illustrated by the fate of The Seven Spiritual Laws Of Success, a slim volume released in 1995, which claims to be about "how to generate wealth in all its forms". Almost instantly, it hit the top998 words
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ART
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Article, Illustration1323 1997-01-18 19 BEN MUNROE - A surprising amount of good local and international art has been turning up in hotel lobbies and lounges, ben mumboe tells you where to go if you're seeking to be aesthetically educated over your latte BEN MUNROE THE weekend lurches around. You have put in too1,323 words
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Article, Illustration545 1997-01-18 20 Holly Harrison - CINEMA Murders, mayhem and martini-sipping madman fail to deliver the goods in the campy black comedy Curdled By Holly Harrison WITH its quirky heroine (the death-ob-sessed Gabriela who gives up her job at a bakery to clean up after murders), a sexy,545 words
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Article, Illustration550 1997-01-18 20 Corinne Kerk - Strong performances, stunning photography and inspired directing combine to make a glorious epic out of Michael Collins By i Corinne Kerk IT MAY come as a surprise, but Neil Jordan, the director known more for idiosyncratic works like The Crying Game and Interview With The550 words
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Article, Illustration646 1997-01-18 20 AUSTRALIAN OPEN AFP Reuter [MELBOURNE] Brilliant Michael Chang snuffed out Tim Henman's hopes of a British tennis regeneration at the Australian Open with an emphatic straight sets victory here late yesterday. The American world No 2 outclassed 14th ranked Henman, 6-1,7-6 (7/3), 6-3AFP; Reuter - 646 words
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561 1997-01-18 21 A Surendren - NIGHTSPOT Venae offers its patrons a chance to drink and shop for designer togs at the same time By* A Surendren IT'S NOT quite a hangout befitting the likes of Naomi, Cindy, Linda and Claudia, but the Venue Fashion Cafe Pub in Mohamad Sultan Road is561 words
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Article, Illustration414 1997-01-18 21 Holly Harrison - Compiled by Holly Harrison UOMUHET t Hm mn n Grandmaster Russian pianist Lazar Berman will give his first solo recital in Singapore. His programme will include pieces by Franz Liszt (to whom he has been compared) and Modest Mussorgsky's Pictures At An Exhibition. Don't miss this. Jan 19414 words
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EPICURE
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Article, Illustration838 1997-01-18 22 JAIME EE - If s no slick chick as far as looks go, but Cleopatra's honest-to-goodness Middle Eastern cuisine is bound to win hearts in Singapore, jazmbbb tells why she'll be back for more JAIME EE TO VISIT a restaurant named Cleopatra is to engage in a session of freeCHRIS LOH - 838 words
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Article, Illustration786 1997-01-18 22 Tan Su Yen - RESTAURANT Breeks at Marina Square serves up a delightfully adult version of mashed potatoes By 1 Tan Su Yen FRAPPUCCINOS may be all the rage, but would-be trendies will be happy to know that a perennial comfort food mashed potatoes is on theCHRIS LOH - 786 words
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Article, Illustration538 1997-01-18 22 Corinne Kerk - mRESTAURANT Streeters shines like a good deed in the naughty world of Keong Saik Road By< Corinne Kerk FAMOUS for its brothels, Keong Saik Road in Chinatown is not really a place where you'd expect to find Mediterranean and European cuisine. It doesn'tCHRIS LOH - 538 words
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Article, Illustration1018 1997-01-18 23 Albino Alligator. Kevin Spacey's directorial debut about robbers who take hostages in a bar. Matt Dillon stars. R(A). Lido: 5.15; 11.45. Oriental: 12pm. Yangtze: 11.30pm. Army Daae. Five Singaporeans get their army training. Yishun: 11; 1; 6.30; 12; 2am. The ArrlvaL Charlie Sheen stars in the latest sci-fi flick1,018 words
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TRAVEL
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Article, Illustration1634 1997-01-18 24 AUDREY PERERA - There's lots to see and do in Paris, but why not venture a little further to take in some other famous French attractions? audrht fhrhra leads the way AUDREY PERERA PARIS is one of the most visited cities in the world, and that isPHOTOS BY AUDREY PERERA - 1,634 words
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Article, Illustration288 1997-01-18 24 IF IT'S even further afield you want to go, Paris is acknowledged as one of Europe's most convenient transit points. At Air France's hub at Paris' Charles de Gaulle Airport Terminal 2 (CDG2), there are some 400 takeoffs and landings a day, with one arrival288 words
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Page 17 Advertisements
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Advertisement6 1997-01-18 17 Raffles Conversation Deepak Chopra EL 26 words
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Advertisement105 1997-01-18 17 aKjiißH Travel Four good reasons to leave Paris EL 8 4 What to eat if you drive a Mercedes. #> The answer is simple. Just follow the .Mercedes drivers of America. From film stars to fashion gurus, from movie moguls to music magnates, they're all into America's innovative contemporary cuisine.105 words
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Page 20 Advertisements
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Advertisement32 1997-01-18 20 SINGAPORE'S MOST INSPIRING HOMES 143 PAGES OF WONDERFUL ROOMS AND IDEAS A GREAT BOOK FOR YOURSELF, FAMILY OR FRIENDS GET IT AT TIMES THE BOOKSHOP IN CENTREPOINT. PLAZA SINGAPURA AND RAFFLES CITY32 words
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Page 21 Advertisements
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Advertisement641 1997-01-18 21 Where to wine, dine and entertain '••••••••••••••••••••••••A Magical coffee house I WEEKEND I: Delight the kids with a MAGIC SHOW~] HIGH TEA Every Sunday Adult: $12.00*++ 1.00 pm 1.30 pm Child: 7.so+++ 3.30 pm 4.00 pm At APOLLO HOTEL SMGAPORE 409 NMUW KMC W&VOM HK. TV. 71MW1 •••••••••••••••••••••••a A Ramadan641 words
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Advertisement130 1997-01-18 21 ILONGESTI rft-jea rrj Town N<m from 12 pm to 5 pm ftULY (Moo-Sun). BY POPULAR DEMAND! $ecut on our spread of Pastries. NonyaKueh, I I and local favourites like Mee Siam, Laksa, Rojak, Mee Rebus and more! Adult: $12.80 (Sat. Suit A Public Holidays tl3.80) Child: $7.80 Subject to senin130 words
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Advertisement96 1997-01-18 21 fesil Dian Xm Restaurant 1 At The Neptune on shenton Way Dian Xin/Lunch j 11.30am-2.30pm ||)a&£S -J 7TH FLOOR. OVERSEAS UNION HOUSE. j COLLYER QUAY. SINGAPORE *****1. TEL: 224 3022 j <aßijgaaigag>jgM for the family bunch Western and local delights for an ideal family gat together t Special children's favourites96 words
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Page 22 Advertisements
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Advertisement30 1997-01-18 22 For real-time stock information, call Quickstock on j: 1900-913-0003 fat 30 cents a minute. Stock numbers I are available in the stock pages of The Business Times and Lianhe Zaobao.30 words
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Page 23 Miscellaneous
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Miscellaneous2072 1997-01-18 23 TODAY'S TV Hollywood Sffiz e&ceto B SSSr* SS SSSr^ witch-hunt formidable opponent to 130 GoU?ng World toe Ka',l* tamKarpom (r) date. Stars Jeff Wincott 440 ESPN: World Football Re- "3L)n3l 15 ZSZZ: and Brigitte Nielsen. 440 Sfarl Ocean Adventures. HS I J SSSriKSSo! l.oOpin, Cn 5 5.00 Get Wet. BUM)2,072 words
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