The Business Times, 15 February 1997

Total Pages: 24
1 24 The Business Times
  • 15 1 THE BUSINESS TIMES MITA (P) 023/12/96 85* SINGAPORE Internet: http://www.asial.com.sg/biztimes WEEKEND EDITION, FEBRUARY 15 -16,1997
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  • 51 1 Dm 2252.4 C (-2.22) n™ mm IQC46 (-3.55) PI BTOOMP U 23HL17 (+0.54) WmWTWBk U *****2 (+5.73) STOCK ■AKXETIXDICES KLSKCOMP SSl -^*Sa9 MKKR l«,7UfW > »iM HANOSKNG^tttltt*—4*W SKTINBKX 7H.48 >15.42 JAKAjBAOWP_m.« -IM HAMtAOOHP —VOtM -114# TAIPKIWn 7,4WJl___-*.77 SEOl'LOOMP .7*1*- *4* flgtfWHHrtt AUST ALLOW) __I,4ttJ 13.8 If* Omm ■ow
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  • 73 1 us* s» GSf_ 1.417 s leo tm n» 8M3 0840 YEN IN 1893 1.1*7 Ml 0492 9570 HKS 9.129 9.188 BART 9.998 9.0M RUP1AH 199 0.042 9l9M 9UKB SIXES S1NQAP0RE* *44 KUALA LUMPUR JJ8 JAKARTA 18J» BANGKOK l&tt MANILA UM HONGKONG AM TAIPEI JL25 SYDNEY IN TOKYO 1M SEOUL
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  • 751 1  -  $70m cut paves way for delayed S'pore Exchange Centre to get off ground By] Lee Han Shih [SINGAPORE] The development levy for the Singapore Exchange Centre (SEC) project along Shenton Way has been chopped from $250 million to $180 million, paving the way for
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  • 518 1  -  Net losses for 1996 deepen to $15.88 m from $11.94 m By' Genevieve Cua [SINGAPORE] Packaging group CarnaudMetalbox Asia has raised its provisions for 1996 by an additional $36.4 million to a total of $136.4 million, as the prospects of selling its
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  • 371 1  -  Indon group wants chairman End&Dg'S entire stake By, Jenny Lam [SINGAPORE] Auric Pacific, which was suspended from trading yesterday, has confirmed BT's report on Thursday that Indonesia's Lippo group is negotiating to buy over chairman Endang Utari Mokodompit's entire stake in the company. The
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  • 337 1  -  Tokyo, Bangkok post gains but most indices are down By Ven Sreenivasan (SINGAPORE] It was just another day in regional stock markets yesterday although Wall Street celebrated a milestone with the Dow Jones Industrial Average smashing decisively past the 7,000 point
    REUTER  -  337 words
  • Page 1 Advertisements
    • 114 1 DISEDE Sfcafiag a mw balance Asian and European foreign ministers will meet today to fleeh out a new global balance of economic power that will move away from a depends** on the US. PfS iwiimpi Wsl Street bib te excite btttamithispg. Link between Wall Street and Singapore market, largely psychological,
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    • 93 1 Hook Look Slow: How will Sing land, ICB share redevelopment costs? Pg 7 Rolex Day-Date. Chronometer in 18 ct gold. Bezel and dial jet with brilliant*. SINGAPORE THE HOUR GLASS Tdkohimaya Shopping Centre Tel: 734 2420 Scotts Tel: *****27 Lucky Plaza Tel 733 1262 VIY Centrepomt Tel 734 1598 Penmsuta
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    • 15 1 Thai stocks post biggest gain in a month, Pg 5 Regional stock markets, PgS 12-16
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  • SINGAPORE AT HOME & ABROAD
    • 383 2  -  Positive market outlook is good news for Singapore's electronics industry Reports by, Jennifer Lien ANALYSTS expect strong growth for the hard disk drive industry worldwide this year, following 1996's healthy performance. Research houses Dataquest and Trend Focus see better growth in 1997
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    • 305 2 Demand for desktop drives exceeds supply by about 30% TWO months into the new year, Seagate Technology is still facing a shortage of its drives the longest period of "allocation" it has experienced in recent years. Demand for Seagate's desktop drives has
      305 words
    • 283 2  -  By\ Catherine Ong PROMINENT banker Lim Ho Kee has been promoted to chairman of Union Bank of Switzerland (ÜBS) for East Asia in a move that recognises his role in developing the ÜBS franchise in the region, the bank said. He
      283 words
    • 197 2 [SINGAPORE] Hong Leong and Far East yesterday launched phase two of their huge Hazel Park condominium project, at an average $695 per square foot, or just barely above the soft launch prices. The second phase of the 696-unit Hazel Park in the competitive Upper
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    • 696 3  -  ASIA-EUROPE TALKS Asia-Europe forum will be multifaceted bat will not subsume Ase&n-EU talks Reports by Yang Razali Kassim ASIAN and European foreign ministers meet today to flesh out a new global balance of economic power that will move away from a dependence on
      ARTHUR LEE  -  696 words
    • 503 3 A FRANCO-German partnership will help ensure that links between Asean and the European Union will not be derailed by news-grabbing issues like East Timor, Myanmar and human rights. Stating this in an interview prior to the first Asia-Europe Foreign Ministers Meeting here, French
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    • 384 3  -  By. Michelle Low EURO Asia's P L Kua has finaUy wrapped up a deal to buy three adjacent apartment sites in the Thomson area after months of tussling with their owners, for a total of $120 million. And the end-product on
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  • Page 2 Advertisements
    • 1001 2 CENTRAL PROPERTIES LIMITED AND ITS SUBSIDIARY COMPANIES (Incorporated in Singapore) PROFIT AND DIVIDEND ANNOUNCEMENT I UNAUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 1996 1. Unaudited Prom Loss Accounts The Group The Company 1996 1995 Change 1996 1995 Change SS'OOO SSOOO SSOOO SSOOO Turnover 48,352 47.600 *1.6 57.156 57.880 -1.3
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  • Page 2 Miscellaneous
    • 481 2 THE WEATHER Singapore: Showers with thunder over many areas in the afternoon and early evening. Temperature (32-24). Europe Hi/Lo* Goad. America Hi/Lo* CMi AjriA-Paatflc Hi/Lo* Cum*. AhMilm. 12(0 Cloudy Atlanta lIJ/ll (loudy \urthnd 2K"21 A*hb IVO7 Cloudy Buenos Ainrs (loudy Kan A. A 8/2* Sunn> Berlin 02 2 Snow Chra#D
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  • Page 3 Advertisements
    • 124 3 rJj j 1 UIKHMA Road and the trade routes, linking Southern "Europe to the Indian subcontinent home to a SBF Discover a veritable culinary adventure mSr *f 0 fWBKII Pa than specialties like chicken cooked to a turn i n clay ovens, succulent aromatic meat on jM A skewers cooked
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  • FOCUS: PERSONAL FINANCE & INVESTMENT
    • BULL'S EYE
      • 664 4 Those polled for their views on next week's Singapore stock market outlook are: Alliance Securities, Daiwa Securities, DBS Securities, G K Goh, HG Asia, Kay Hian Holdings, Nomura Securities, Peregrine Securities. Wftwg Leong Finance ♦(Boy) Fraser Securities, Feb 14, $3.50 (L)/$5.95 (F) Hong Leong Finance provides one
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      • Article, Illustration
        383 4  -  Haddon Zia Fund manager Prudential Portfolio Managers Asia am HE Taiwanese stockI market has underX gone a strong and steady advance over the past ten months, rising by over 50 per cent since the conclusion of the mainland Chinese missile tests. While roughly half of the sharp
        383 words
    • 572 4  -  UOB's United Foreign Equity Fund is dedicated to foreign currency denominated stocks that are listed in Singapore Shiv Taneja [SINGAPORE] LOST in the swirl of the high-decibel launch of the Singapore Regional Index Fund a collaborative effort of the six local banks in December was
      572 words
    • 568 4  -  Meet up-and-coming fond manager Tan Chong Koay By\ Shiv Taneja [SINGAPORE] When it comes to picking winners in Malaysia's stock market, Tan Chong Koay, who advises the Malaysian Emerging Companies Growth Fund, is getting to be quite a whiz at it.
      568 words
    • 458 4  -  EYE ON THE REGION: INDONESIA By 1 Tom Soulsby The writer is the head of research at ANZ Securities Indonesia, which is affiliated with PTPanin Sekuritas. WE believe the Indonesian share market is set for a 10-15 per cent downward correction in the
      FILE PHOTO  -  458 words
    • 833 4  -  The Back of the ENVELOPE Significant part of demand for private homes will continue to come from upgraders Byi David Goh DATA from the Singapore Institute of Surveyors and Valuers showed that during the first months of 1996, some 4,100 HDB
      833 words
    • 304 4 Recommended portfolio weights for BT-SRI Stocks CONTRIBUTION PRICE AS DBSS RECOMM STOCK TO SRI AT FEB IS RECOMMENDS DBSS WTS Iwr 0.40% US>1.68 Accumulate 0.49% OartfeM 3.41% SI10.70 Accumulate 3.67% flEjgiflll 0.52% US$3.78 Accumulate JO.63% flWhACf 3~53% S$14.80 Accumulate mmmuk(F) 5.58% S$19.80 DBSS'parent 5.58% IHkrrTurm 2.03% US$0.79 Accumulate
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  • REGION
    • 486 5 BANGKOK Central bank moves to lower rates in offshore baht market Bloomberg Business News THAI stocks posted their biggest gain in a month yesterday after the central bank intervened in the baht market offshore in an effort to drive short-term interest rates
      Bloomberg Business News; Source: Bloomberg  -  486 words
    • 286 5 JAKARTA Reuter AFP PLANNING Minister Ginanjar Kartasasmita said yesterday Indonesia's economic growth was expected to have slowed in 1996 compared with 1995. "We are still calculating. But I think it will be above 7.5 per cent and a little bit below 8 per cent," Mr
      Reuter; AFP  -  286 words
    • 403 5  -  MANILA M'sians said to be still upbeat abont Philippines despite Manila Hotel case Frorn. Al Labita in Manila TWO Malaysian banks will help bankroll a US$669 million (Ss94B million) power project, despite Prime Minister Mahathir Mohamad's call for a slowdown in investments in the
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    • 527 5  -  SYDNEY By\ Surinder Singh AUSTRALIAN biscuit maker Arnott's, subject of a poison scare, suspended its shares yesterday pending an announcement. Arnott's, which is about 70 per cent owned by US food processing giant Campbell Soup Co, also said it was recalling all its
      AFP  -  527 words
    • 456 5 KUALA LUMPUR Not enough facilities, says small computer software company Bernama THE Malaysian Technology Park (MTP) has only the most basic facilities for multimedia operations although it claims to be "business friendly" and fully equipped, a joint survey by Bernama and a local computer
      Bernama  -  456 words
    • 297 5  -  TOKYO By, Anthony Rowley THE US dollar hit a new fouryear high of 124.75 yen in Tokyo yesterday and foreign exchange market dealers predicted that it could test levels above 125 next week. Some believe that the Bank of Japan
      Source: Bloomberg  -  297 words
  • Page 5 Advertisements
    • 435 5 EXECUTIVE Appointments •TO ADVERTISE CALL TOLL-FREE 1800-741 1883 NDC MERCHANT BANK LTD (A subsidiary of DBS Bank) Positioning ourselves for further growth, we invite suitably qualified individuals for the the following positions Reporting to the Head of Corporate Finance/Capital Markets Department, the successful candidate will:- Assist in business development, credit
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  • REGION/WORLD
    • 486 6 WASHINGTON First decline in more than two years confirms economy free from inflation Bloomberg Business News PRICES paid to US factories, farmers and other producers unexpectedly fell 0.3 per cent in January the first decline in more than two years and convincing evidence
      Bloomberg Business News  -  486 words
    • 229 6 WASHINGTON AFP PRESIDENT Bill Clinton called on Thursday for an investigation into charges that Chinese diplomats here may have channelled illegal political donations to the Democratic Party. "It would be a very serious matter for the United States if any country
      AFP  -  229 words
    • WORLD Watch
      • 61 6 Reuter [KUALA LUMPUR] Malaysia will be among the first group of Asian countries to sign an open skies pact with the US in May, Transport Minister Ling Liong Sik was quoted as saying by the Bernama news agency yesterday. Malaysia would first "initial"
        Reuter  -  61 words
      • 70 6 Reuter [MOSCOW] Yesterday President Boris Yeltsin, in his first radio address to the Russian people since he fell ill with pneumonia, dismissed his political foes' demands for constitutional changes to reduce his powers or oust him. He spoke clearly, but with a slightly croaky
        Reuter  -  70 words
      • 75 6 Bloomberg Business News [NEW YORK] Switzerland's three largest banks promised to return any funds found to belong to Holocaust victims, even if it costs them billions of dollars. In testimony to the New York State Assembly Standing Committee on Banks, officials from Union Bank
        Bloomberg Business News  -  75 words
      • 87 6 Bloomberg Business News (WIESBADEN, Germany] Retail sales in Germany fell a higher-than-expected 3.2 per cent in December from November, signalling domestic demand in Germany is likely to remain weak for some months to come. The fall compared with a 1.6 per cent decline forecast
        Bloomberg Business News  -  87 words
    • 341 6 GENEVA Bloomberg Business News LAST-MINUTE horse-trading between Japan and the US to raise caps on foreign ownership of telecommunications companies pushed back the timetable for an accord to free up global trade in telecom services, a World Trade Organisation official said. The agreement
      Bloomberg Business News  -  341 words
    • 1625 6 CITY FUCHT ETA FU6HT ETD Abu Dhabi BY610 2025 GA890 0135 Fukuoka SO909J73O S0990 0115 BY609 0735 Guangzhou PRC C2351 Adelaide BY609 0620 0F82 2050 2035 __i S0230 1815 BY610 2140 Hatkou PtC CZ3098 1030 0F81 1930 Hanoi VN741 1310 S0176 1130 Amman RJ187 0130 S0175
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    • 266 6 U BEIJING Reuter CHINA urged for calm yesterday as it negotiated with South Korea on the fate of a top North Korean asylumseeker stranded in Seoul's mission in Beijing and waiting Pyongyang officials said they wanted to take the turncoat home.
      Reuter; REUTER  -  266 words
    • 446 6  -  SINGAPORE He says new coalition govt hasn't changed key economic or investment policies By: Louis Beckerling THE change of government in New Zealand has not led to a change in key economic or investment policies. In fact, it's just "business as usual down
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  • Page 6 Miscellaneous
    • 34 6 DOQHESBPBY By Garry Trucleau Pl£ASe'W *1/ TUR£P6U£SnaNt6Hr W PMYeMBMRAS6HB{T l >&) e 1 f DQeSN'TRSAUyN£W. \PON£ITAU!6IV£mjPJ-Z~\ &6GUY*BH?^A r I mjaht TO A9SUReALL TAWMJHENrHBWt\IB VtSKH^ WF*eNBSHO&TOMSHT INTUVV BUtU?frt, FOLKS? GV£ fT THATJN7H& \oUNofita&tW ll —x UP.'&VeiTUPf
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  • COMPANIES & MARKETS
    • 491 7  -  Timeframe not given; reversal of stance may have come from push towards fewer bnt stronger banks By! Siow Li Sen [SINGAPORE] United Overseas Bank (UOB), whose chairman Wee Cho Yaw had previously maintained it would not absorb Chung Khiaw Bank (CKB), is
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    • 356 7  -  By\ Shiv Taneja [SINGAPORE] Surreyville Pte Ltd, which is in the midst of a general offer for Tri-M Technologies, said it will maintain the mainboard-listed firm's core business after the takeover. Tri-M, which is already 46.6 per cent owned by Surreyville, is involved mainly
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    • 184 7 [SINGAPORE] Mainboard listed Central Properties yesterday reported a 13.1 per cent rise in group net profit to $20.3 million for 1996. Central said the rise in after-tax profit for the year ended Dec 31,1996, was posted on a 1.6 per cent rise in turnover to
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    • 755 7  -  HOCK LOCK SIEW Lee Han Shih SHOULD Singapore Land redevelop its Shing Kwan House? The answer is yes, if its management thinks the capital value of 99-year leasehold office property located in that part of the business district will rise beyond $2,400 per
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    • 356 7  -  Buyer Colonial Ltd of Australia already owns the other half of Jardine CMG Life By. Abdul Hadhi [SINGAPORE] The Jardine trading group is selling its half share in insurers Jardine CMG Life for US$l63 million (*****.8 million). Jardine Matheson Holdings
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    • 358 7 Bloomberg Business News [SINGAPORE] Bonvests Holdings Ltd hopes its Starbucks outlets will post sales of $40 million to $50 million within the next five to six years. Bonvests, which also runs the Burger King chain and has interests in property development, is
      Bloomberg Business News  -  358 words
    • REGIONAL/INTERNATIONAL COMPANIES
      • 510 9 This year's showing will depend on telecom and food units: analysts Reuter [MANILA] The Philippines' oldest conglomerate, Ayala Corp, posted 1996 profits of 6.23 billion pesos (***** million), up 14 per cent from 1995, and analysts said double-digit
        Reuter  -  510 words
      • 344 9 Profit down 11% instead of 25% on improved ad revenues Bloomberg Business News [HONGKONG] South China Morning Post (Holdings) Ltd, which yesterday reported a better-than-expected interim profit as advertising revenues rose, is forecasting strong fullyear results as the local economy recovers. The publisher of the territory's
        Bloomberg Business News  -  344 words
      • 254 9  -  From Eddie Toh in Kuala Lumpur THE Hong Leong Group of Malaysia has continued its buying spree of investment properties in London in a bid to build up a property portfolio worth at least £500 million (Ssl.l bUlion). Listed Benchmark Group pic, which
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      • 125 9 Reuter [JAKARTA] Malaysian integrated poultry and fastfood chain KFC Holdings (Malaysia) Bhd has agreed to buy 50 million shares, or 6.78 per cent, of Indonesia's PT Sierad Produce, Sierad said in a statement yesterday. The deal would be worth 45 billion rupiah (Ss26 million),
        Reuter  -  125 words
      • COMPANY Briefs
        • 65 9 [SINGAPORE] Lindete ves Jacoberg has agreed to buy 19.8 per cent of Australia-listed Kolback Ltd foe A 52.08 million (552.25 million) comprising 13.24 million shares at A 50.15? each. The purchase is subject to the approval of the Australian Foreign Investment Board. Kolback
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        • 38 9 [SINGAPORE] Tuan Sing Holdings and Its listed subsidiary SPP Ltd have appointed the managing director of Bankers Trust Company Singapore, Ho Tian Yee, as a member of their respective audit committees.
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        • 76 9 Bloomberg Business News [LONDON] Williams Holdings pic has agreed to buy Chubb Security pic for £1.3 billion <552.87 billion), a move that will strengthen Williams' position in the world security systems market. Williams, which, like Chubb, makes locks, fire-extinguishers and other security products, is
          Bloomberg Business News  -  76 words
        • 73 9 Bloomberg Business News [SEOUL] Samsung Electronics Co, the world's largest memory-chip producer, said the price of its mainstay 16 megabit chip rose 60 per cent above a record low after the company scaled back production to bolster prices. The production cut, which began
          Bloomberg Business News  -  73 words
        • 65 9 Bloomberg Business News [SYDNEY} Coca-Cola Amatil said profit for the year ended Dec 31 rose 2.5 per cent to A 5142.1 million (Ssls3 million) with the company's heavy capital expenditure programme slicing earnings. The result for the Australian soda bottler was in line with analysts'
          Bloomberg Business News  -  65 words
      • 68 9 IN A report yesterday headlined "Kemayan to buy offices for $57 million", we said Kemayan will be issuing new shares at M 52.30 apiece or a discount of 37 per cent to Thursday's closing price of M 53.64. This is inaccurate. The new shares are Issued on
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      • 284 9 Waiver application withdrawn due to time needed for Hutchison asset valuation AFX-Asia [HONGKONG] Cheung Kong Holdings Ltd said it has withdrawn a waiver application which would have allowed it to increase its stake in Hutchison Whampoa Ltd to more than 50 per
        AFX-Asia; FILE PHOTO  -  284 words
      • 240 9  -  By Siow Li Sen [SINGAPORE] Acma Ltd intends to use the $61 million extraordinary gain from selling its Malaysian associate to expand its current operations in the region and in Russia, where it has been doing well, said a source. On Thursday, the telecommunications
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      • 330 9 Bernama [MANILA] Philippine telecom company Smart has allotted 15 billion pesos (*****.6 million) to fund its expansion programme, Smart president Orlando Vea said in a statement yesterday. He said the move is to double the size of the company's nation wide cellular network
        Bernama  -  330 words
      • 234 9 Bloomberg Business News [SYDNEY] Australian newspaper publisher, John Fairfax Holdings Ltd, said net profit for its first-half ended Dec 31 fell 24.7 per cent to As 47 million (5550.8 million) because of higher newsprint costs. "The decline in profit is primarily attributable to higher
        Bloomberg Business News  -  234 words
      • 141 9 [SINGAPORE] Jack ChiaMPH (JC-MPH) yesterday announced the purchase of 12 million of its ordinary shares by associated company Inter Park at a price of $1.67 per share. The shares were bought from Sabreor, a wholly-owned subsidiary of Jack Chia Holdings Hongkong (JCHK), the holding
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      • 247 9 Bloomberg Business News [MELBOURNE] Pacific Dunlop said its fiscal first-half net profit fell 27.6 per cent to A 584.5 million (Ss9l million), dragged lower by problems at the Australian company's US battery division. The result was in line with analysts' expectations for
        Bloomberg Business News  -  247 words
    • FINANCE & COMMODITIES
      • 324 10 Slowing economy, property market leading to more bad loans in Thailand FT [BANGKOK] Thai Farmers Bank, Thailand's third-largest bank, said on Thursday it was putting aside 1.05 billion baht < Sss7 million) in the first quarter of this year
        FT  -  324 words
      • 427 10 USS/mark: The greenback maintained a firm note this week, climbing to a high of 1.6935 on Wednesday, from Monday's low of 1.6357. Despite the strong rally, further gains would be capped in the short-term as an inside day coupled with overbrought stochastics were seen up
        Source: DBS Bank; ALLAN  -  427 words
      • 160 10 Reuter [TOKYO) Japan's Ministry of Finance (MOF) plans to take appropriate measures against Asahi Bank Ltd after the bank and its New York branch were fined by US authorities for misconduct, a senior MOF official said yesterday. "We will take some kind of
        Reuter  -  160 words
      • 116 10 Reuter [GENEVA] Geneva private banks Banque D'lnvestissements Prives (BIP) and Compagnie Bancaire Geneve (TBG) will merge to join forces against growing competition, BIP director general Alain Pevtral said on Thursday. Mr Peytral told Reuters that CBG would take over BIP by the end of March
        Reuter  -  116 words
      • 298 10 Bloomberg Business News [LONDON] Lloyds TSB Group pic, Britain's second largest bank, said 1996 pre-tax profit rose 52 per cent, in line with expectations, as profits from lending increased and reorganisation costs and provisions feU. The bank said pre-tax profit increased to
        Bloomberg Business News  -  298 words
      • SMALL Change
        • 64 10 [SINGAPORE] Bank Bali's deputy chairman Sukanta TanudJaja will open its Singapore representative office on Tuesday, according to a press release. The listed bank, in which United Overseas Bank is a partner, is the sixth largest private bank with 195 branches in Indonesia. Peter Ho,
          64 words
        • 76 10 Bloomberg Business News [SAN FRANCISCO] Wells Fargo Co said it will move its investment and asset management businesses into a new unit, Wells Capital Management, in a bid to attract more business from institutional customers. Wells, the eighth-largest banking firm in the US, said the
          Bloomberg Business News  -  76 words
        • 54 10 Bloomberg Business News [FRANKFURT] Dresdner Bank AG, Germany's second largest bank, said it will merge its private banking unit, Hardy Co, into the parent bank. Hardy will bring a specialty in asset management for individuals to Dresdner's investment management activities for corporations and in
          Bloomberg Business News  -  54 words
        • 76 10 Bloomberg Business News [SYDNEY] National Australia Bank Ltd, the country's most profitable bank, said it cut its key variable home loan rate to 7.55 per cent from 8.25 per cent. The cut foUows a similar reduction by Commonwealth Bank of Australia Ltd, which
          Bloomberg Business News  -  76 words
      • 228 10 SOSEXfieport Reuter (SINGAPORE] Simex Japanese government bond futures fell and the Euroyen futures were trapped in narrow ranges yesterday amid continued worries over Japan's banking sector, dealers said. Nagging concerns over Japan's ailing financial system was the highlight this week, they said. After trading to
        Reuter  -  228 words
      • 194 10  -  MSCI TAIWAN FUTURES By\ Perry Gilbert vice-president, Refco Singapore Pte Ltd [SINGAPORE] The futures market started on a firm note as traders expected the momentum generated in the cash market with seven consecutive rises to continue. Unfortunately, the early highs proved too tempting for profit-takers in both
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      • 198 10 ENERGY REPORT Reuter [SINGAPORE] A Royal/Dutch Shell joint-venture refinery project in China has been dropped after an eight-year wait falling casualty to Beijing's unpredictable oil policy, industry sources said. Shell's high profile US$6 billion (SsB.4 billion) refinery and petrochemical complex was poised for state approval
        Reuter  -  198 words
      • 292 10 Reuter London THE dollar ended little changed in Europe compared with Thursday's close here, underpinned by robust US asset markets but wary of any central bank response to an extension of this week's sharp rally to multi-year highs. The week closed on a quiet note as US markets
        Reuter  -  292 words
      • Article, Illustration
        1436 10 imiincmmwi mn k H CS Iwfc ECU Fir D» m ind H 8»ta4 *en *m m Nw Irt «r ffi Wfiwi US$ AustraJU 1032 6J78 0.643 4248 1288 5.920 27.470 *201 0.952 4485 1.901 1.105 30.703 20.124 1063 3.382 1124 ***** 19.989 0.472 0.744 c«uda 0.949 4.157 0442 4.214 1249
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    • 1773 11 S1C0M FUTURES Feb 14 RU88CR (Mures dosta«M at MOpa) KSS1 CONTRACTS cwUAD CIom Volume Open Mwtt Hfrh Low Sott (towwi) Interest Mar 97 172.00 75 1525 Apr 97 17X50 173.50 174.00 300 1000 Ma* 97 175.00 1250 Jun 97 176.00 1100 Jul/Sep 97 177.50 177.00 177.50 150 5535
      1,773 words
    • 2393 11 LONDON Industrials Ft* 14 Hnct AB Ports .306.400 8 Abbey National 781.400 -12 Allied Oomecq 430 *4.600 Amec 103 unch Asda Group 114 -.600 BAT Ind 520 -3 B1CC 268 uoch BOC Group 948.400 *11 BR Petroleum 687.400 -7 BTR 242 1.600 Bank of Scotland 349 -S.400
      2,393 words
    • 1648 11 Bloomberg Business News Pkittei22s ♦33J4 STOCKS rose to a five-week high, led by steelmakers such as Nippon Steel Co, after gains in US stocks and a strong US dollar fortified the outlook for profits for Japan's global companies. Shares in Nippon Telegraph and Telephone Corp and KDD gained after
      Bloomberg Business News  -  1,648 words
    • Article, Illustration
      1632 12 Reuter £7 Hang Seng -126.69 STOCKS ended heavily depressed yesterday after plummeting to a two-month low as investors continued to unwind positions and search for better value elsewhere, analysts said. The Hang Seng Index closed on a loss of 126.69 •|>oints, or 0.96 per cent, at 13,113.26, capping a
      Reuter  -  1,632 words
    • 402 12 AFP QWP Index -36.77 SHARE prices in Taiwan finished 0.5 per cent lower yesterday as investors locked away profits following eight consecutive winning sessions. "Sell orders largely outnumbered buy orders from the opening of trading, signalling that many investors were seeking to lock in profits." said Steven Ou of
      AFP  -  402 words
    • Article, Illustration
      724 12 AFP O Composite Index -189 SHARE prices closed 0.4 per cent lower yesterday as investors locked away profits on heavyweight stocks. There was "some profittaking in the morning and then a rebound in the afternoon", said a dealer. The Jakarta Stock Exchange Composite Index fell 2.89 points to 704.48.
      AFP  -  724 words
    • Article, Illustration
      819 12 AFP FISET Index +15.42 SHARE prices rose 2.2 per cent yesterday after recovering from sharp morning losses caused by news that Moody's Investors Service might downgrade Thailand's sovereign debt, analysts said. The bourse slumped in early trade after Moody*s said it would conduct a review for a possible downgrade
      AFP  -  819 words
    • 344 12 AFP n Manila -13.43 SHARE prices closed 0.4 per cent lower yesterday with little positive news to bolster the market, analysts said. The Philippine Stock Exchange Composite Index fell 13.43 points to close at 3,322.30 points. Turnover rose to 41.36 billion shares worth 3.93 billion pesos up from 25.16
      AFP  -  344 words
    • 418 12 AFP n Composite Into -*429 SHARE prices on the Korea Stock Exchange closed 0.6 per cent firmer yesterday on improved sentiment about the outlook for the economy. Some stocks rose on expectations that the economy may bottom out earlier than expected, said a dealer. "The market was continuing to
      AFP  -  418 words
    • 598 12 AFP D All Ordinaries -118 PROFIT-TAKERS moved in yesterday to help push shares down 0.6 per cent after a week which saw record highs. The All Ordinaries Index closed down 13.8 points at 2,482.6. Turnover totalled 453.49 million shares valued at A 51.17 billion, with falling issues outnumbering those
      AFP  -  598 words
    • 266 12 AFP n Wellington -15J7 SHARE prices closed 0.7 per cent lower yesterday, pulled down by Telecom Corp following the company's downgrading by Standard and Poor's. The NZSE-40 Capital Index fell 15.97 points to 2,323.18. —AFP ft* 14 HS COM) ANZBontiinq 9.20 -0.05 8159 Advontoqot H4dg» 1-30 -O.OT ***** Air
      AFP  -  266 words
    • KUALA LUMPUR STOCK MARKET
      • 529 13 Bloomberg Business News CI Composite Index -1119 STOCKS dropped for the first time after seven straight days of gains as investors decided utility stocks such as Tenaga Nasional have exceeded their earnings potential. "Tenaga is expensive as earnings growth now depends on a tariff hike,"
        Bloomberg Business News  -  529 words
      • 8324 13 ——111 i 111 —I, HirWff —xffsnm. KLSECompontf 1244.91 1299.10 -12.19 NST Industrial 6434.60 6474J9 -39.66 NSTFInanca *****.40 *****.64 -***** N5T proparttas 3209.70 3234.24 25.54 NSTMMnq 3192.52 320*4 -21.12 TWWWl'Wl M«n Board Vokima* 33U00 425.577 -94J77 Ma* Board VW (MS) 1.731J99 2,030.095 -29M97 Consumar Prod ***** 44,694 *9,999 Industrials Pro4 45,607
        8,324 words
    • WARRANTS & OPTIONS
      • 223 14  -  WARRANT WATCH By' Ven Sreenivasan THE upbeat mood across the local bourse has lifted several hotel stocks to new highs this week. The interest in this sector is expected to stay intact in the wake of ongoing speculation on the development potential of several hotels.
        223 words
      • 3890 14 40NK, LOAMS i VAMMTS m ■—/HIT Last Val Day Lwl Owata Mtgll Lav Stna Campawy SaM ♦<*- COOO) High Low Buyar SaMar Met 65 47 m AM08c5.5*0202»6TI HI 62 -1 18 63 62 60.5 62 515 39 3160 "AC* ******1 US$ 4a -0.5 96 50 48 47 48 5 129
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    • 2331 14 Or Or liM/IIW Last Vat Day Laat Ouott OOv 08* VM Nat M Cap HNti La» Staa Campany SaK COOP) U» Bwyor SaBar Cw P/t W 62S 360 ww 'mw> *o M 46 410 4» 412 414 10 4.9 0-3 853 422.6 129 84 mi 5001 AM0850C 125
      2,331 words
    • STOCK EXCHANGE OF SINGAPORE
      • 1609 15 TURNOVER COOO) VAIUC COOO) Mala Q»> THH ttofc CH» T«««l Induftrw 118,484 38,991 155,475 29U93 70,423 3*1,818 Fktanct 20,887 37.558 58.423 147.232 48.853 198,085 HotHl 5.888 2.851 8,719 18.805 23.097 Prap«rt*» 13,827 58.595 70,422 80,097 78.707 158.804 PtwM«tton 2.219 2.219 5,955 5,955 Mkwiq 855 858 2*26 2.828 BLW 29.032 63.088
        1,609 words
      • 5062 15 fir Cr M W» t996/T»97 Last V«4 Day Last Quote W* W» VM Net Cap _*»f High Low StNo Company Sato <'000) HI* Law Buyer SaNar C'w P/t Wt» MOUSTRIALS 5146 ASENT$10 200 US- 1000 900 1275 ASF USS0.***** US900 885 90.0 214 164 1258 Acer50c US164 -4
        5,062 words
      • 1163 15 Gr Or M Wt 1996/1997 Laat Vol Day Laat Ovota Dtv Mv fit M Cap Av« HH» La» MW C—»—f SH COOP) Hit* L— «»yar 8—ar Or P/I M Prtw 2 .2? *2 ?252 Hldg$5« >69 -1 198 174 169 169 170 3.0 14.2 0.1 105.6 75.2 166 183
        1,163 words
      • 218 16 Um »o«—>• 'MBf Hldgs 50c 22,087,000 tosiaPacLd 13.969,000 *M8F Land Bhd 13,206,000 FHTK Hldgs 20c 11,704,000 •PJDevWt 11,209,000 'Ncmayan WtOO 9,018,000 '•BKfjaya Ind 8,951,000 •FACB50C 8,412,000 •Insas Bhd 7,795,000 •RenongWtOO 7,717,000 Stocks Keppel Corpn 46,726,952 UOB Foreign 41,710,843 DBS Land 34,662,727 DBS Foreign 30,012,745 SIA Foreign 24,772,304 OCBC Foreign 21,150,866
        218 words
      • Article, Illustration
        61 16  -  -by Shiv Taneja HONG LEONG Properties Bhd crossed the $2.40 mark decisively to close at $2.45, the highest in over two years. Daily and weekly RSI and stochastics art overbought, though in the days ahead there will stiM be more upside for this counter. There is strong buy
        61 words
      • 647 16  -  STOCK MARKET COMMENTARY Profit-taking after recent rnn-np and surge in foreign buy orders make for volatile session By Ven Sreenivasan [SINGAPORE] Singapore stocks had a volatile session yesterday as some investors decided to lock in profits from the recent sharp run-up. The Straits
        647 words
      • ON THE GRAPEVINE
        • 96 16 TALK has it that road tax for passenger cars will be cut by $50 across the board in preparation for the launch of the electronic road-pricing (ERP) system at the end of the year. While motorists might say that is peanuts, the total reduction is quite a
          96 words
        • 109 16 WE have no beef with the Cact that hand held mobile phones are a real hazard. But to suggest, as did a study that appeared in the well-known New England Journal of Medicine, that hands-free phones do not appear to be any safer than hand-held ones,
          109 words
        • 163 16 THE forthcoming port call in Singapore by Her Majesty's Yacht Britannia will provide a regal setting for a series of diplomatic receptions local glitterati will definitely not want to miss. It is understood that the guest list now being crafted by the British High Commission for a number
          163 words
        • 94 16 IF international financial monthly Euromoney is to be believed, none of tomorrow's financial leaders will hail from Singapore. Its Asian list of such persona, carried in the December issue, features such young finance wizards like Bangkok Bank's Chartsiri Sophonpanich; Victor Li, son of Hongkong tycoon
          94 words
  • Page 7 Advertisements
    • 239 7 You'd better be when it comes to getting your company onto the Internet. Worldwide access to the Net is growing faster than you realise. If you don't get ahead of the crowd, you could lose out. Singapore Connect We can help you stay ahead of the pack with Singapore Connect,
      239 words

  • Page 8 Advertisements
    • 2222 8 Management is also investigating a formal liquidation of the Shanghai and Guangzhou subsidiaries and the subsequent n\ sale of the plant and equipment. The legal process appears protracted and tax and customs implications uncertain. iff s Additionally, no interested buyer for the equipment has yet been identified. Given this high
      2,222 words

  • Page 9 Advertisements
    • 113 9 SHAKE PHONE jKHMpjii The Pioneer in Stock Information Service Paging-On-Demand for stock price 1. Select the counters, such as 8868 for S'pore Telecom, up to 5 counters. 2. Set time table, such as 1630 lor 4:3opm, up to 10 different times. How does it work When the time is reached,
      113 words



  • Page 12 Advertisements
    • 112 12 ♦China stock markets were closed yesterday. You may have been unable to get your copy of The Business Times, The Straits Times, The Sunday Times, Lianhe Zaobao and other daily newspapers from your usual newsstand because of the higher demand lately. To ensure a daily copy, call Customer Services Section
      112 words



  • Page 15 Advertisements
    • 136 15 Sond JLQ ffroo ffaxM toitay! J Got an Internet account-try out Send e-mail to any place in I I I#i Asia One's Fax Mailer where you T/|4rHfl 4ft j| fl continental United States from can send e-mail MMM JI II BH HuhT anywhere in the world for ysi Ak, B
      136 words
    • 22 15 FOUND SOMETHING? Locate its owner through Classification 821 (Found). A'V-ijL Simply call C.A.T.S. at 1800-737-1166 for this free sennce. Another Classified Service
      22 words

  • Page 16 Advertisements
    • 955 16 BUSINESS Notices l() X|,NI KMSI XI 1 |()l 11Kl 1 ISN< In the matter of the Companies Act, Cap. 50 NOTICE OF RESOLUTION WELLWOOD CO PTE LTD (In Creditors' Voluntary Winding-Up) At an Extraordinary General Meeting of the above Company duly convened and held at 271 Bukit Timah Road #05-01
      955 words
    • 29 16 For real- time stock information, call Quickstock on 1900-913-0003 at 30 cents a minute. Stock numbers are available in the stock pages of The Business Times and Lianhe Zaobao.
      29 words
    • 114 16 For further information on which newsstands carry Her World, Go, Singapore Business, Home Decor, Young Parents, Please call our Customer Services Section on 1800-749-2577. i rcftft*- •w* 'a i< its Rising Occasion t openings ISO certification Br M ceremonies I W~ ,?Pi|. P T ceremonies These and other corporate milestones
      114 words

  • EXECUTIVE Lifestyle
    • 1390 17  -  Surabaya, the capital of East Java and Indonesia's second largest city, is slowly but surely emerging from the shadows of Jakarta, s mvasukx reports on the unprecedented growth there that has taken many Indonesians by surprise S N VASUKI IN EARLY December, two five-star hotels
      1,390 words
    • STRAWS In The Wind
      • 76 17 SINGAPOREANS must be more used to seeing animals either as chops or fillets. At Sentosa's Underwater World attraction, for example, two women were observed gazing at the fish swimming around them, but not in wonder: First woman: The market sells that type of fish. Very nice for steaming.
        76 words
      • 71 17 "Smoking kills. If you're killed, you've lost a very important part of your life." Brooke Shields, in a bid to become an anti-smoking campaign spokesperson. "The Holocaust was an obscene period in our nation's history... this century's history We all lived in this century. I didn't live in
        71 words
      • 45 17 A MAN with a dog walked into a veterinary clinic and the following conversation took place: Receptionist: Name, please? Man: Rocky. Receptionist: No, your name. Man: Ya. Rocky. Rocky Lee. No, we didn't get around to finding out what the dog's name was.
        45 words
    • VIEWPOINT
      • 2008 18  -  THE RAFFLES Conversation Having served the Indonesian government for over five decades, Sumitro Djojohadikusumo is well qualified to be its policy critic. He talks about political succession, economic deregulation and his country's two presidents to s vasuki on the understanding that everything he says is strictly
        2,008 words
      • 320 18 Da i] i ESPITE a controverted legacy, President Sukarno's name will be secure in Indonesian history, says Sumitro Djojohadikusumo. "He was a great man. And mind you, I'm not a Sukarno henchman. Far from it. I had a price on my head." Mr Sumitro was Finance
        320 words
      • 319 18 SUMITRO Djojohadikusumo and his wife Dora are seen as "model parents" by many Indonesians. They have four children, all of whom have distinguished academic and professional credentials. The inevitable question then is, how did the couple balance their rigorous work schedule with the equally difficult
        319 words
    • PURSUITS
      • 930 19  -  The Thomas Yeo retrospective at SAM traces the growth and development of one of Singapore's premier artists, bbn mumiioe has the details BEN MUNROE AS ONE door closes, so another opens. Masterpieces From The Guggenheim has packed up and left town but rather than bask in this glory,
        ST FILE PHOTO  -  930 words
      • 871 19  -  FASHION Some revealing facts and figures about the market for men's designer underwear By\ David Boey VALENTINE'S Day was yesterday. Apart from the exchange of love and kisses, it's likely that some amorous ladies would also have given their beaus racy intimate apparel to prime them into
        871 words
    • 661 20  -  NIGHTSPOT Expect a dash of humour with your drink at The Right Place By. A Surendren FANS of top-rated comedy Seinfeld will be familiar with the format. Put one good comedian in front of an appreciative crowd and let him tell his jokes till
      CHRIS LOH  -  661 words
    • 622 20  -  CINEMA In his totally delightful Mars Attacks! Tim Barton salutes the alarmist B-grade alien invasion movies of the '50s David Boey THE Mars Attacks! snippet now showing at a post office near you makes a sorry excuse for a trailer as it fails to convey
      622 words
    • 656 21  -  CINEMA Sleepers has an unmistakably stilted feel about it, bnt the big-star lineup should ensure its success at the box office Byi Corinne Kerk QUIZ time. Hell's Kitchen is: a) how you would describe the state of your own kitchen, b) a place where bad guys are fried,
      656 words
    • Article, Illustration
      347 21  -  Compiled by M Yasotha COWCERTS S'pore Symphony Orchestra: Some Enchanted Evening A Valentine's Day Special A programme for musical sweethearts. Lim Yau conducts works revolving around the theme of Romeo and Juliet, including Bellini's Prelude to I Capuletti ed I Montecchi, Bernstein's West Side Story: Symphonic Dance, Prokofiev's
      347 words
    • EPICURE
      • 978 22  -  They may not be as classy as their West End or Broadway counterparts, but they've definitely made their way to Singapore, says audkhtphkhra AUDREY PERERA THERE'S a new breed of cafe in town. They come with quirky names, they serve cofifees, teas and
        978 words
      • 858 22  -  WINE CONNOISSEUR By N K Yong ALTHOUGH there are still growers who continue to favour the big oaky full-bodied style of wines which were the hallmarks of Napa Valley wines, there has been a noticeable shift among increasing numbers of them towards what Robert Mondavi calls "food
        858 words
      • 759 22  -  WINE STORAGE Gellarmasterhas come op with the wine equivalent of a bank safety deposit By Corinne Kerk YOU start by buying a couple of bottles, but soon enough, your wines are recoiling in horror at having to share the crowded refrigerator space with
        CHRIS LOH  -  759 words
    • Article, Illustration
      1263 23 All's Well End's Well '97. The Lo family and their problems, starring Stephen Chow. In Mandarin with English subtitles. Cathay: 11; 1; 3; 5; 7.15; 9.15; 12am. Lido: 11; 1.30; 4; 6.45; 9.15. Yishun: 10.35; 12.40;2.45; 7.25; 9.30. Pavilion: 11; 1;3; 7; 9. Savoy: 11; 1; 3; 7.15; 9.15.
      1,263 words
    • TRAVEL
      • 1120 24  -  Trains may not be big on convenience or speed, but they can go where cars are not allowed and venture where no jet plane can land. For mask graham they're also the classiest way to see America MARK GRAHAM PLANE, train or automobile? When it
        PHOTOS BY MARK GRAHAM FOR BT  -  1,120 words
      • 568 24  -  TRAVEL NOTES By] Eileen Chan THINK Queensland and you usually think sun and surf. Now you can add frost to that picture with Frozen World, Australia's latest and coolest attraction which opened last month. Its main feature a fantastic array of ice sculptures set in
        568 words
  • Page 17 Advertisements
    • 6 17 Hafiles Conversation Sumitro Djojohadikusumo EL 2
      6 words
    • 85 17 I 3 f IWW The Amtrak ticket to adventure EL 8 'H V 4,; 1 Fresh prints of Bel Air. #> Masterpieces {it to grace the walls of Bel Ait. Culinary inspirations fit to lay before the most discerning aficionados of California's lighten healthier American cuisine. Yo, man. Seasons is
      85 words

  • Page 18 Advertisements
    • 49 18 ia;Tj* with Singapore connect: > Add information to the basic data your company's our Partners Programme and get in touch with companies abroad good connections can make a world of difference >V JHr or call Wendy Chua at 740-2236 Reach customers and business partners around the world with Singapore Connect
      49 words


  • Page 20 Advertisements
    • 61 20 I SOA/l/S/ BABY GUESS height chart inside a young iw rents Is playschool onl^ Homework without any fuss v FREE! Hf c B m vinliO P. When parents can't agree n™j" "I'M NOT SLEEPY!" IUrM J; i ii! Solutions at every age 1 C. A 1 #0* Game over! What's
      61 words
    • 63 20 HjVDMEO® Latest colour Qpr Versatile A splash of 10/1 Great -i r\r\ schemes tLO tables at $39 IO I boldness I sofa beds lUU llSLiJ'v r PWi vv ■r^T"7^;•; t i GET IT NOW! FEBRUARY '96-MARCH *97 HOME DCCOR $4.60 Times the Bookshops NTUC Supermarkets Kinokuniya 7-Eleven MPH flfft STOP
      63 words

  • Page 21 Advertisements
    • 533 21 Where to wine, dine and entertain Luna Coffee House I I FEBRUARY I 3 FEBRUARY 15 FEBRUARY 21 FEBRUARY '97 Nonya Buffet Lunch with Chinese New Year Delicacies 12 noon 2.30 pm Adult: $21.80 Child: $13.00 Temasek Buffet Dinner with Chinese New Year Delicacies 6.30 pm 9.30 pm Adult: $22.80
      533 words
    • 112 21 f i* mm M I IWI BiGGEST Dian Xin Restaurant 1 At The Neptune on shenton Way i Dian Xin/Lunch 11.30am-2.30pm M S JM IMptUAC j 7TH floor, overseas union house. MI yip n Q I Ikan parang or salmon Yu Shang to start the New Year Toss up a
      112 words


  • Page 23 Miscellaneous
    • 2046 23 TODAY'S TV RECOMMENDED VIEWING Premiere 12 I ILOO AM TV Innovations 400 11 X® W aru Courting cartel. Bayliss 2 L |J 500 Ultramln x ii his relationship with 3*o Tennis World. HVMHW iJ a IS u i V D ys Z. Nag trouble Emma Toole while Felton Golfing Wodd_
      2,046 words