The Business Times, 3 May 1997

Total Pages: 24
1 24 The Business Times
  • 16 1 THE BUSINESS TIMES MITA (P) 02« V 12/96 85f SINGAPORE Internet- http://www.asial.com.sg/biztimes WEEKEND EDITION, MAY 3-4,1997
    16 words
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  • 610 1  -  Major developers taking part in multi-billion dollar project that will take 10 years to complete Prom S N Vasuki in Jakarta A GROUP of major property developers has embarked on an ambitious project in Jakarta to replicate Singapore's Orchard Road in
    610 words
  • 603 1  -  Decisive victory expected to keep party's economic agenda moderate From. Neil Behrmann in London CURRENCY and stock markets took the historic Labour landslide in the British elections in their stride, confident that the astounding Labour victory would give the new Prime Minister, Tony
    REUTER  -  603 words
  • 276 1  -  By Diana Oon [SINGAPORE] Keppel Land has bought a 131,000 sq ft freehold redevelopment site in the Newton area for a benchmark price of $262.2 million. The sale price works out to $717 per sq ft per plot ratio (psf ppr) after
    276 words
  • Page 1 Advertisements
    • 116 1 DUMB fhmmcum China continues to enjoy a high torel of confidence in its leadership after Deng's death, says Mr Goh, P|7 [IB RiflWi Oumtwi Computer wunderkind Michael Dell tells Kenneth James about his unconventional rood to anccefw. EL 2 The Hongkong market is no longer a bargain with the Hang
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    • 3 1 More reports, 5
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    • 97 1 KMM Get Credit Link... No Joining fee. No Annual fee. No Guarantor. No Hassle. A personal revolving line of credit that gives you unparalleled access to ready funds in an instant, for any purpose at home and around the world, 24 hours a day. Just writing a cheque, using NETS
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  • SINGAPORE AT HOME & ABROAD
    • 419 2  -  Volume lower; apartment, condo prices fall most By< Abdul Hadhi RESIDENTIAL property prices slipped 3.7 per cent during the first quarter of this year compared to the previous quarter amid lower volume, according to the latest property price index figures. Prices of apartments and
      feme USA  -  419 words
    • 754 2  -  Factions and political chaos are written lip by some Western press Reports from Quak Hiang Whai inSitzhou CHINA continues to enjoy a high level of confidence in its leadership after the death of Deng Xiaoping and reports of factions among the
      754 words
    • 539 2 More than half of new investments to come from Glazo-WeOcome THE China-Singapore Suzhou Industrial Park received a big boost yesterday when 13 companies committed themselves to fixed asset investments worth US$2OO million (Ss2BB million) in all. More than half the new investments
      539 words
    • 472 2  -  By Jenny Lam FRESH from selling Boulevard Hotel, property magnate Khoo Teck Puat's family is now seeking buyers for the Ladyhill Hotel off Orange Grove Road at an asking price of over $185 million. Industry sources said the Khoo family is
      ARTHUR LEE  -  472 words
    • 279 2 Prominent regional businessmen to head investment unit Gema AMPRO Holdings Singapore the economic arm of the Association of Muslim Professionals has roped in prominent regional businessmen such as Aburizal Bakrie, Fadel Muhamad and Kamarudin Jaafar to head its investment vehicle. Gema Holdings. Mr Aburizal is chairman
      279 words
    • 116 2 OPEN tender invitations by ministries and statutory boards will be available on the Internet, the Finance Ministry said yesterday. Interested contractors will be able to access tender information on the Web site, which also allows the downloading of registration guidelines and application forms.
      116 words
  • Page 2 Advertisements
  • Page 2 Miscellaneous
    • 401 2 THE WEATHER "TP— Showers with thunder in the afternoon, mainly over Northern and Western Singapore. Temperature (34-25). Aate-Padfle HU/Xo* K Cni Par if HVLo* Goad. America HOC OmmL Aurktand IVM CVwdy Amsterdam 13/06 Cloudy iw™ i™, mju simwen Bangkok 3&tt Cloudy Aims 17/12 Cloudy Skwas Bepg 25/11 Sunny Berlin 15/04
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  • FOCUS: PERSONAL FINANCE & INVESTMENT
    • BULL'S EYE
      • 656 3 City Developments Ltd ♦(Accumulate) Fraser Securities, April 30 CITY Dev. together with its parent Hong Leong Holdings, has purchased the much-sought-after Boulevard Hotel site for $410 million. The site area is 130,535 sq ft, which works out to about $1,120 psf based on a revised plot ratio
        Figure* denote number of respondents  -  656 words
      • Article, Illustration
        380 3  -  Irene Cheung Roonnmlrt, Merrill Lynch um HE soft landing of the I Indonesian economy X in 1996 has allowed the authorities to ease monetary policy. An indication is the 30-day SBI (Bank Indonesia Certificates) rate which has fallen by over 200 basis points to 10.625 per cent
        380 words
    • 855 3  -  Stockmarket is above fair value level and low rental yields in the property market may not be sustainable Andrew Look The writer is a portfolio manager at Prudential Portfolio Managers Asia [HONGKONG) HONGKONG was a "safe haven" in 1995 and 1996, sheltering equity investors from
      ALLAN  -  855 words
    • 536 3 DATA ANNUAUS80 ANNDAUKD 3YBS/ BtCSrnON RJSTURN UWARXVRBX INCEPTION M DATS OVERS YRS RATIO RETURN CATOGOBY Global Bond Funds ovn»m DPBtPiiiliiiiPiyi ftad Feb 89 5.23 U» 18.89 A OCBC Satan Otobal Fond Apr 81 3.39 IM 1228 A aaaUbtdWmiVwmi Dec 93 2.14 6.80 A POP
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    • 597 3 Variable annuities seem worth a lot less whenever the Dew takes a dive Bloomberg [NEW YORK] The stock market has been giving sleepless nights of late to people in the US who had looked to it to provide a smooth ride to a worryfree
      Bloomberg  -  597 words
    • 306 3 Bloomberg [NEW YORK) Merrill Lynch Co is selling a new package of retirement management services to baby boomers. For a flat US$5OO (Ss72o) a year, it said, investors get help preparing financially for retirement, and a package of related services, including assistance with ageing parents. The
      Bloomberg  -  306 words
  • Page 3 Advertisements
    • 70 3 TECHNICAL ANALYSIS USING ELLIOTT WAVES OPTIONS Date. 8 May 1997 Tune: 630 pm 930 pm Venue: Harbour View Dai-Ichi Hotel Fee: $45 (Includes refreshments handouts) seminar is suitable for traders, investors and speculators in FX Currencies, Financial Futures, Stock Indices, SES KLSE Counters For more information, write to, call or
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  • THE REGION
    • 476 4  -  BANGKOK Opposition MP, some businesses s&y plan will give foreigners control of property By] Harish Mehta THE Thai government's decision to allow full foreign ownership of condominium projects is facing resistance from some quarters. An opposition politician and sections of the Thai
      476 words
    • 306 4  -  SINGAPORE Ambassadors will tour Irvine, Detroit, Boston next month By Yang Razali Kassim US AMBASSADORS and senior commercial officials based in Asean capitals will be touring three major US cities to draw the attention of American businesses to market opportunities
      306 words
    • 230 4 TAIPEI Reuter TAIWAN'S economy was recovering, with all 386 listed firms' net profit surging 43 per cent in the first quarter to NT570.62 billion (553.67 billion) from NT549.29 billion a year earlier, the Commercial Times said yesterday. The paper attributed the high
      Reuter  -  230 words
    • 63 4 [SYDNEY] Officer workers and stock brokers jump the start of the annual Rat Race through the streets of Sydney yesterday to raise money for the Australian Red Cross. Several hundred of the well-heeled white collar elite competed for the first prize of a
      AFP  -  63 words
    • 295 4  -  UHONGKONG By\ Loh Hui Yin SMALL and medium-sized enterprises, which form the backbone of Hongkong's economy, now have a new export insurance policy that provides more protection for their exports. The policy, aimed at firms with annual turnovers of under HK$5O million (559.3 million),
      295 words
    • 174 4 JAKARTA AFP SEVERAL branches of Indonesia's Muslim-led United Development Party (PPP) staged a one-day boycott of the election campaign yesterday to protest against attacks on its offices, a party official said. "Our office has been destroyed by (ruling) Golkar masses, and the authorities do nothing
      AFP  -  174 words
  • Page 4 Advertisements
    • 1800 4 FREIGHT LINKS EXPRESS HOLDINGS LIMITED (Incorporated in the Republic of Singapore) >yr NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY QIVEN that an Extraordinary General Meeting of the Company will be held at 62 Toh Quan Road, #05-00, Freight Links Expreae Diatripark, Singapore *****1 at 11.00 a.m. on 16 May
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  • UK ELECTION
    • 949 5  -  Tory rout shows voters want middle-of-the-road policies to cope with unemployment, health and other insecurities By\ Neil Behrmann Source: AFP [LONDON] BRITISH political analysts are assessing why Tony Blair's Labour Party has confounded even its most avid optimists by sweeping into power with
      Source: AFP; AFP  -  949 words
    • 276 5 A new dawn has broken, has it not? We always said that if we had the courage to change then we could do it. And we did it.' Tony Blair, Labour leader, on victory 'Tonight we have been comprehensively defeated. We will listen to the voice of
      276 words
    • 773 5  -  Will Blair be able to address Britain's real political needs? By Anthony Lewis NYT WILL a tamed Labour Party, in power for the first time in 18 years, be bold enough to address Britain's real political needs? That is one question raised by Tony Blair's landslide
      NYT; REUTER  -  773 words
    • 624 5  -  Brussels sees Blair taking more positive view of integration Frotn Shada Islam in Brussels FOR most of the last 18 years of Conservative rule in Britain, London has clashed with its European Union partners over foreign policy, defence, agriculture, trade and claims that Eurocrats
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  • Page 5 Advertisements
    • 66 5 IPOs Stock Tips VM V H --in Share Allocation Results using CDP Numbers. Wondering which share result Call our non-1900 AudioTex Enquiry hotline on 740-2350 (24 hours) to check first. Share recommendations from experts. useful tips on what to buy, sell or hold. This scrvicc costs only SO* a minute
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  • REGION/WORLD
    • 445 6 WASHINGTON But the number of non-form jobs created was for fewer than expected Reuter THE US unemployment rate fell to 4.9 per cent last month its lowest rate in more than 23 years from 5.2 per cent in March, even though
      Reuter  -  445 words
    • 303 6 NEW YORK Bloomberg THE US index of leading economic indicators, intended to project economic activity over the next half year, increased in March for the 14th consecutive monthly gain. The Conference Board's index rose 0.1 per cent in March after rising an unrevised
      Bloomberg  -  303 words
    • 1726 6 CJTY FUGHT JTA_ FLIGHT ETO AbuDtubi GA890 0015 SR7034 1730 MataMo S0230 1830 OF82 2055 Cuangrtwu CZ351 2045 QF81 1930 Hanoi VH741 1310 S0176 1105 Ammh RJW7 0130 S0175 1840 VN740 1410 Amsterdam KL843 0455 GA890 0015 HatYai MI893 1415 TG408 0820 DL25 0655 KL838 2300
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    • 62 6 [WEITERSTADT, Germany] A prison officer points to the modern swimming pool at the Weiterstadt jail at near Frankfurt The jail was rebuilt after being destroyed in 1993 in a bomb attack by leftwing guerillas. The jail, regarded as one of the most modern in Europe,
      REUTER  -  62 words
    • 178 6 SEOUL AFP SOUTH Korean President Kim Young Sam's son and his associates are suspected of hiding tens of millions of dollars and prosecutors plan to arrest the son on graft charges on May 10, reports said yesterday. The prosecutors also found that
      AFP  -  178 words
    • 400 6  -  TOKYO March unemployment figures fuel hopes of recovery By Anthony Rowley TOKYO stock prices rose sharply yesterday to their highest level this year as favourable employment figures for March added to growing optimism about Japan's economic recovery. The Nikkei-225 Average closed 239.42
      Source: Bloomberg  -  400 words
    • 152 6 m TAIPEI Bloomberg TAIWAN stocks took their biggest tumble in almost a year, as a slide in Advanced Semiconductor Engineering and other technology companies cast doubt over one of this year's biggest stockmarket rallies. The benchmark Weighted Price Index fell 3.5 per cent yesterday.
      Bloomberg; ALLAN  -  152 words
    • 459 6  -  TAIPEI Beijing using issue as bargaining tool in shipping talks Byl Bruce Cheesman TAIWAN fired off another salvo yesterday in the war with Beijing over the status of the consulates of its main diplomatic allies in Hongkong after the July 1 transition to Chinese
      459 words
    • 276 6 LONDON FT MAJOR telecoms operators have warned that it could be impossible to telephone some countries after the turn of the century because of the so-called "millennium bomb". While large operators in the US and UK are investing heavily to ensure their systems are
      FT  -  276 words

  • COMPANIES & MARKETS
    • 387 7  -  Group hopes to open 6 branches within first year of Monte de Piedad re-opening By i Conrad Raj [SINGAPORE] The Keppel Group expects to invest additional financial and human resources to build and expand its recently purchased bank in the Philippines. Under
      387 words
    • 490 7  -  Anto parts trader wpurt^^liniUll IPO on Monday Byi Christopher Tan [SINGAPORE] If the success of Mercedes-Benz is anything to go by, auto parts trader Tye Soon should get star rating among new listings here. The 64-year-old homegrown company, which just got
      CHRIS LOH  -  490 words
    • 362 7  -  Trading in the US$ shares to start next week on mainboard By Abdul Hadhi [SINGAPORE] Oslo-listed Nera ASA yesterday announced it will launch a secondary listing on the Stock Exchange of Singapore, but will not be issuing any new
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    • 831 7  -  HOCK LOCK SIEW R Sivanithy THERE'S a very fine line between panic and opportunism in the stock market, one that gets shaved even thinner during periods when sentiment is weak, as it has been in the past week. With market observers
      831 words
    • REGIONAL COMPANIES
      • 346 8  -  Indonesian company keen to penetrate markets in S'pore, Thailand, Malaysia By\ Conrad Raj [SINGAPORE] PT Great River International, one of Indonesia's leading apparel distributors and manufacturers, yesterday concluded its largest ever financing package here worth US$l75 million (***** million). The five-year revolving
        346 words
      • 316 8 Suria Canital shares up 43 sen, MBf Capital stock soars 88 sen Reuter, Bloomberg [KUALA LUMPUR] Malaysian financial services houses MBf Capital Bhd and Suria Capital Holdings Bhd were activelytraded yesterday on rumours of a possible merger between them, analysts and dealers said.
        Reuter,; Bloomberg  -  316 words
      • 275 8 [SINGAPORE] Singapore Technologies' listed companies have received approval to raise their foreign shareholding limits to 49 per cent, but there are no overseas fundraising projects in the works, said a group spokesman. "This approval to raise foreign limits would give flexibility to oyr companies
        275 words
      • 214 8 Bernama, Reuter [KUALA LUMPUR) Berjaya Group Bhd is selling its 80 per cent holdings or 225.7 million shares in Berjaya Singer Bhd (BSinger) for Msl.2 billion (Ss69l million) or MJ5.30 a share. The proposed sale is expected to yield
        Bernama,; Reuter  -  214 words
      • 50 8 [TOKYO] A cleaner perches on top of a gigantic object symbolising Japan's leading beer company Asahi Beer Co. The object, 44 metres in length and 14 metres in height, sits on top of Asahi Beer Co's headquarters building and has become one of Tokyo's tourist attractions. AFP
        AFP  -  50 words
      • 139 8 Bloomberg [KUALA LUMPUR] Westmont Industries Bhd plans to make a rights offer and a special share sale to raise M 5307.8 million (*****.3 million) to repay bank debts. Westmont, a Malaysian engineering and ship repair company, said it will offer two new
        Bloomberg  -  139 words
      • 458 8 New figures give the amount of adjustment for foreign shares Bloomberg [SINGAPORE] Morgan Stanley Capital International announced more details on changes to one of its Singapore indexes, giving additional information about how the index will be calculated. In February, the company, known as
        Bloomberg  -  458 words
      • 115 8 AFX-Asia [KUALA LUMPUR] Malaysia Airlines is to retrofit its fleet of Boeing 747 and Airbus 300 jets as part of its efforts to become a top class airline, The Star reported. It quoted the airline's chairman Tajudin Ramli as saying the two-year programme
        AFX-Asia  -  115 words
      • 257 8 Reuter [KUALA LUMPUR] Malaysian industrial group Wing Tiek Holdings Bhd said yesterday it made a loss of Msl46 million (SsB4 million) after the sale of two Philippines companies. Wing Tiek said in a statement the losses were incurred by the sale of Philippine steel
        Reuter  -  257 words
      • 267 8 Bernama [KUALA LUMPUR] National car maker Perusahaan Otomobil Nasional Malaysia (Proton) yesterday confirmed that it is in discussions with Japan's Mitsubishi Motors Corporation and its key partners to manufacture a wider range of cars. Proton's chief executive officer. Tengku Mahaleel Tengku Ariff, told
        Bernama  -  267 words
    • REGIONAL/INTERNATIONAL COMPANIES
      • 261 9 Faulty wipers prompt biggest US recall for S Korean carmaker Bloomberg [SEOUL] Hyundai Motor Co, South Korea's largest carmaker, will recall 75,000 cars in the US, saying they have faulty windshield wipers. That's the biggest US recall for a South Korean carmaker and
        Bloomberg  -  261 words
      • 264 9 Bloomberg [AMSTERDAM] Unilever NV said first-quarter net profit rose a worse-than-expected ll per cent, as provisions for restructuring in Europe and extra marketing expenses in the US held hack earnings growth. The maker of products such as Persil detergent, Calvin Klein perfume and Magnum ice cream
        Bloomberg  -  264 words
      • 347 9 Computer giant no longer brand by law to separate computer sales and service ops Bloomberg [WASHINGTON] A federal judge has approved an agreement between International Business Machines (IBM) and the Justice Department that ends the last remaining terms of a 1956 anti-trust decree.
        Bloomberg  -  347 words
      • 45 9 [BEIJING] A group ofout-of-town visitors sporting Nike baseball caps but not the matching shoes during a visit to Beijing's Tiananmen Square yesterday. America's Nike is just one of many foreign sporting goods companies aggressively marketing their goods in China. AFP
        AFP  -  45 words
      • 272 9 US firm wrtiwg satellite operations to focus on core business Reuter [NEW YORK] AT&T Corp has said that it withdrew its application with the US government for a licence to launch a new generation of communications satellites. AT&T's decision to cancel
        Reuter  -  272 words
      • 128 9 AFP [SYDNEY] Shares in Australia's Westpac Banking Corp Ltd jumped more than 2 per cent yesterday on news it planned to buy back up to 50 million shares on the market. Westpac said the scheme was an extension of one announced in November which had to
        AFP  -  128 words
    • SHIPS IN PORT
      • 589 9 Voy Mo Bwth Arrival Dgrtw Jmihrt A**"#** 4 J05 akmgstfa 03.05/2300 M P Tatar *****7 *1 donqsidt 03.05/0*00 M* Jy* 10 J09 1 longs* 04.05/2300 L« PITS J02 atonqsid* 03.05/2300 S*M W7 J02 Mngsidt 03.05/2200 W Mm 1 *****7 J02 alongside 02.05/2315 ft** Bay *****7 J20 alongside 04.05/2300
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      • 1686 9 RECEIVING OF EXPORT FCl CONTAINERS AND LCL CARGO Booktoq/Bolonco Rstls Ship Voy No Etb/Btr Porlod From To Frew to «*TK0« 0284 05/000 U 02/1700 01/0651 OVOWO 1 03/07W 01/115* 01AWC 4 01/1200 oi/ms* oymo wu oyono a 02/1700 ovms* ovwoo J 03/1100 01/115* 03/14OC 4 03/1200 03/HW 01/1700
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    • FINANCE & COMMODITIES
      • 358 10 Taiwan contracts traded here aimed at international funds, says Simex president Reuter [SINGAPORE] Taiwan stock index futures traded on the Singapore International Monetary Exchange (Simex) will survive the opening of Taiwan's own futures market, a Simex official said yesterday. "As far as we're
        Reuter  -  358 words
      • 412 10 USB/mark: The greenback started the week on a strong note, trading to a high of 1.7395 on Monday, only to lose more ground to touch 1.7165 by Thursday. The technical perspective seems to suggest that the greenback could see more downside risk in the shortterm.
        Source: DBS Bank ALLAN  -  412 words
      • 356 10 INDICATIVE NUMBER MIDDLE PRICES 5*U?5£SI ftr^S?°r (EXCLUDING CK08S MATURITY '1. YEAH RAISED I AM °2S ACCRUED ACCRUED REDEMPTION MATURITY YEAR RAISED (SPA) «M> DATES {NTBUEST INTEREST) YIELD f% PA) 1.5.97 Loan 1 1977 61/4 508.19 1/5 1/11 180 100.00 6.06 15.5.97 N*****0E 1992
        356 words
      • 245 10 Reuter [SYDNEY] The New South Wales state government said yesterday that it would sell the Axiom fund management business to Deutsche Bank Group for As24o million (Ss27o million). "The government found the Deutsche Bank Group's proposal was of the greatest long-term benefit to taxpayers and
        Reuter  -  245 words
      • 152 10 FT [NEW YORK] Dillon Read, the Wall Street investment banking partnership, said it is resisting attempts by Dutch financial group ING to boost its current 25 per cent shareholding to full control. The statement follows ING's confirmation of reports that it is seeking full control
        FT  -  152 words
      • 207 10 SIMEX Report Reuter (SINGAPORE) Simex Euroyen futures were slightly easier late yesterday following an improvement in Japan's March unemployment rate, but dealers said trade was largely technically driven amid a lack of fresh leads. December Euroyen stood at 99.00 at 1110 GMT against its
        Reuter  -  207 words
      • 176 10  -  MSCI TAIWAN FUTURES By Perry Gilbert THE Simex MSCI Taiwan Index futures plunged yesterday amid depressed sentiment and concerns over profits of lead ing Taiwan blue-chip compa nies. The main market index closed down 3.52 per cent yesterday. its biggest fall for 1997. High
        176 words
      • 237 10 ENERGY REPORT Reuter [LONDON) Oil prices lost ground for the second day in a row yesterday as rising crude supplies and the end of seasonal refinery maintenance got the better of demand increases. London June futures for bellwether North Sea Brent blend slipped 34
        Reuter  -  237 words
      • Article, Illustration
        1432 10 lUTlMtBAMg CROSS BATES M ay02 M C$ twfc ECU FIT Pi i| lad K» Yea Wen MS IBSNOte N« X t ill §M Hmt Austria- 1.096 (.178 0.693 <551 1349 4069 28.002 19.041 0.992 4996 1965 U36 ********** US 1487 US *****20.440 (L40T"^BBfc 0.921 5.998 0.638 4191 1242 5.588 25.786
        1,432 words
      • 263 10 Reuter, AFP THE dollar closed higher against the mark after shrugging off the US jobs figures which, had they been stronger, might have helped prompt a US interest rate rise which would have been good news for the dollar. The US jobs report, gave mixed signals and pushed
        Reuter,; AFP  -  263 words
    • 1706 11 SICOM FUTURES May 02 RUMCR (Mm dad* M 5-JOpm) RSS1 CONTRACTS cMti/kf) CtOM VoHhm Opon Month W|l low Sitt (tooMS) lnt«fMt JW)97 ttMO 725 J* 97 158.00 156.25 156.75 75 1970 A* 97 158.00 156.75 157.25 75 2020 S<B 97 158.00 157.00 158.00 100 2020 Oct/Dvc 97 159.50
      1,706 words
    • 1614 11 Bloomberg OWkktiaaS ****** STOCKS rose for a fourth day as banking shares gained on increased optimism about the outlook for the industry and a weaker yen boosted exporters. Exporters gained as the dollar strengthened in Asian trading to 126.70, up from 126.45 earlier in the day. A stronger dollar
      Bloomberg  -  1,614 words
    • 2396 11 LOWOOW Mwtriais Kay 2 Naca *h 3ICr«*" 517.400 *6.400 AB Ports 274 1.600 AtXwy National #37 -7.400 AINadDamacq 424.400 -7.600 Amc 143.400 .400 Aidi Group 116.400 1-200 BAT Ind 522 *7 BGPtc 181 *.800 BICC 221 1 0OC Group 949.400 1.400 BR Patrolaum 703.400 -3.600 BTR 261
      2,396 words
    • Article, Illustration
      1611 12 Reuter PJ Hang Seng *60 JB STOCKS ended higher for the third day in a row yesterday, with a rally in property and bank stocks keeping the Hang Seng Index well above 13,000 points, although momentum began to slow after a strong week. The Hang Seng ended 60.92 points,
      Reuter  -  1,611 words
    • 398 12 Reuter □*p Index -296.tt STOCKS tumbled yesterday as investors dumped shares they saw as overvalued, and analysts said they expected further declines amid political and economic uncertainties. The Weighted Price Index fell 298.66 points to finish at 8,187, marking the heaviest single-day loss in 15 months. Turnover was an
      Reuter  -  398 words
    • 256 12 AFX-Asia n Wellington +1L42 The NZSE-40 Capital Index closed 11.42 points higher at 2,277.53 amid prospects of an easing in monetary policy, dealers said. Turnover was valued at NZ557.17 million. -AFX-Asia 2 us com) AW Banking 9.30 0.10 ***** Adv*nt*gn Hldgs 1.38 0.08 *****0 Air Htm Z»*und (A) 2.91
      AFX-Asia  -  256 words
    • Article, Illustration
      816 12 Reuter □set Index -Ll» THAI stocks dipped marginally in thin trade as investors sold large capitalised communication and finance issues ahead of a long weekend, brokers said. The composite SET Index eased shortly after the market reopened in the afternoon and it closed 1.19 points lower at 660.10 on
      Reuter  -  816 words
    • 410 12 Reuter H Composite Iniex *187 FOREIGN investors focused their buying on South Korean blue chip shares yesterday, the first day of the latest increase in the ceiling on for-eign-owned stocks, as domestic institutions fed their demand, brokers said. The ceiling, which rose to 23 per cent from 20 per
      Reuter  -  410 words
    • 596 12 AFP Primaries +&2 SHARE prices firmed 0.2 per cent buoyed by a rally in the banking sector that was sparked by leading bank Westpac Banking Corp's announcement of a massive stock buyback. The All Ordinaries Index closed 6.2 points firmer at 2,491.6. Turnover totalled 280.8 million shares worth AJ744.2
      AFP  -  596 words
    • Article, Illustration
      747 12 AFX-Asia Q Composite Index -2JT7 SHARE prices closed lower yesterday on profit-taking in select stocks, with trade dominated by second- and thirdline stocks. The Composite Index closed down 2.57 points at 647.89 on estimated volume of 200 million shares worth 379.02 billion rupiah. An institutional sales representative with a
      AFX-Asia  -  747 words
    • 323 12 AFP □Manila -4152 SHARE prices fell 1.6 per cent to a 16-month low due to concern over the property and banking sectors and disappointing first quarter corporate profit reports. The PSE Composite Index fell 42.52 points to 2,605.65, the lowest close since the index Finished at 2,578.97 on Jan
      AFP  -  323 words
    • KUALA LUMPUR STOCK MARKET
      • 474 13 Reuter El Composite Index ♦17.71 SHARES rallied towards the close yesterday as foreign institutional funds selectively bought blue-chip stocks after sharp falls in recent weeks, dealers and analysts said. The Composite Index gained 17.79 points to 1,097.96. "We have been net buyers today (Friday). There
        Reuter  -  474 words
      • 7847 13 WUI Tim I Cmswht prefects •997 Last Vol Day Nat Cap >#01 Law M» •OOP HH> Law P/t I— 790 600 Ajinomoto 655 tO 2 655 655 36.3 265.5 448 300 Angkasa 320 2 41 322 31® 9.5 471.8 905 670 Apollo Food Hlg 710 15 t7 710 700 284.0
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    • WARRANTS & OPTIONS
      • 195 14  -  WARRANT WATCH By\ R Sivanithy JUDGING by reports from brokers, Malaysia looks set to take off next week and in all likelihood, should outperform Singapore. It therefore makes sense to trawl the market there for value. Our search yields a warrant
        195 words
      • 3432 14 1997 Last Vat Day Laat OmM *«1 HNk Law Mm Ci—i»f Sate *ar- rOOOt M0 Law ln> Mhr Ww 68 45 m 3000 m AMOBcS.5%*****6 I I 47.5 48 52 62 415 3160 A Acar W*****1 USS 45.5 unch 12 45.5 45.5 45 46 »31 77 3)64 Acma W0I0724 80
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    • 2252 14 Cr Cr •997 lat Val Day l«IO«M OPr 01* YM Mat HC« La» St— CiMm »Ma roop) HM» Uar Br«r «aBar Cw >/l W <78 330 ms 5000 AISSSOc 346 »W 101 346 334 344 348 s!o 4.9 a4 703 354.9 137 92 mi 5001 AMOBSOc 96 *2.5
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    • STOCK EXCHANGE OF SINGAPORE
      • 1523 15 TUtNOVCI COOP) VAlUf fOOO) mm cm itm mm cn» to# todwtru 55,522 13,470 49.1*2 MM* ***** 163.452 FIMM* 7.2M 22.868 30.176 7WJH 31,392 110,6)2 HM> 1.085 356 V441 1970 664 J.634 PrwwtlM 8,481 M49 16,730 47.153 8,536 55.6*9 PUntatton 6*9 6*9 16*8 1,488 IMu mi 214 566 566 BL« 3,42*
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      • 5098 15 Transaction Date JUay 2j Or Gr M Wt 1997 Last VI Day Oust* Mv Oiv VM Net Cap Avg mi L— StMa C>ni»> im roooi Law 6»yar Same Cw M ia Wn mmiiHi s 5146 ASE NTS'O 200 US- aas 885 1275 AST US$0.***** US88S MS 86.5 Its
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      • 1105 15 Or 6r M Wt IMT LmI Voi Day Lwt OMti Wv M W IM Co# A v* w» u> c—p—y roooi w» c— inw p» w ii ww SOMA 186 115 2000 ABRHMqiSc 115 cd -2 31 117 05 114 n6 3.0 6.0 ai 164.3 51.1 118 222 144
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      • Article, Illustration
        59 16  -  -by Shiv Taneja UIC LTD, which closed two cents lower yesterday at $1.07 on a volume of 2.21 million shares, will face more downward pressure in the days ahead. There is support for the stock at just above the £1 mark, and long-term investors should begin accumulating the
        59 words
      • 217 16 SUcta Vetamt *MBf Hldgs 50c 13,934,000 HK Land US$0.10 7,098,000 •MBf Capital 5,485,000 SingTel 15c 4,911.000 •MBF Land 8hd 3,232,000 Keppei Corp 3,129,000 U08 Foreign 2,284,000 UIC 2,216,000 •Renong Bhd 50c 2,205,000 Keppei Land 50c 2,184,000 (JOB Foreign 31,724,728 Keppei Corp 19,631,595 City Oev 50c 19,580,696 SIA Foreign 17,462,293 DBS
        217 words
      • 654 16  -  STOCK MABXET COMMENTARY Modest firming too of property counters as worries over talk of HDB curbs recede; firm US bond market underpins bny programmes By R Sivanithy [SINGAPORE] The local stock market's recovery from a 27-month low continued into its second day
        654 words
      • ON THE GRAPEVINE
        • 118 16 WE hear that NTUC Comfort has been carrying out a flourishing business exporting its old taxis, which the publicly-listed transport company is obliged to take off the roads once they reach seven years. A developing country that has been buying the übiquitous blue taxis is Myanmar.
          118 words
        • 93 16 AND who should we chance upon at Tresors, the recent arts fair at Suntec City? None other than Yeo Seng Teck, former chief executive officer of the Trade Development Board, who has quietly finished his term at Changi Prison and is now a free man.
          93 words
        • 158 16 IT was a remarkable blunder by any measure. Journalists who attended the recent press conference in London to announce the membership of Portugal Telecom in the British Telecom-MCl's Concert alliance were given a major "scoop" by default. It seems the publicity people at Portugal Telecom had given
          158 words
        • 108 16 AMONG the 10 London-listed companies with high exposure to Asia-Pacific are Standard Chartered Bank, HSBC Holdings and Cable and Wireless, according to a Financial Times survey. Standard Chartered derived 69 per cent of its revenue from the region compared to 19 per cent from the UK while
          108 words
        • 137 16 JOURNALISTS and bureaucrats have an interesting relationship because they tend to look at things from different angles. Here are two examples. Recently, a news agency quoted Malaysia's central bank deputy governor Fong Weng Phak as saying that 26 V out of the country's 37 commercial banks haven't exceeded
          137 words
  • Page 7 Advertisements
    • 33 7 t Available at Newsstands NTUC Supermarkets Caltex Published by Times Periodicals, member of STOP PRESS kiosks 7 Eleven Mobil Times the Bookshop Cold Storage SPC Singapore Kinokuniya Shell BP PreSS mph esso Holdings
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  • Page 8 Advertisements
    • 107 8 It's time to reap the home-grown harvest. 1997 Enterprise 50 nominations are now open Companies can nominate themselves by completing the official nomination form. Companies must be home-grown, privately-owned and incorporated under Singapore's Companies Act (1994 Revised Edition) with four years of audited statements. Nomination forms are available at c/o
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  • Page 12 Advertisements
    • 174 12 ♦Hie China market was closed yesterday Home Decor For people who love their homes Wft WIZ comes to you Available at Amconics, j I wish to subscribe to Wli for: (please choose one) Method of Payment (please tick one) jMKft CM CD V UnkJTU JUH MPH Times 17,6 Bookshop, j
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  • Page 14 Advertisements
    • 59 14 Rising. L opportunities to f O to the enhance your corporate image with a self-funding special feature in our (i f* f* c! a V* V% w I For on how you can to the occasion with a special Official openings Corporate Topping-up ceremonies Ronald Chua Te1:740 2042 Pp 9309
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  • Page 15 Advertisements
    • 127 15 Need cash for any worthwhile purpose? At Hong Leong Finance and Singapore Finance, we give you cash for your shares almost immediately. This is all you have to do: I So, why keep your shares tucked away? Use it for a million purposes. Call us Stop by any Hong Leong
      127 words
    • 10 15 Young Parents When you want the best for your children
      10 words

  • Page 16 Advertisements
    • 746 16 BUSINESS Notices t HARIMAU INVESTMENTS LIMITED (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Twenty-Fourth Annual General Meeting of the Company will be held at 65 Chulia Street 50* Storey, Committee Room, OCBC Centre, Singapore *****3 on Friday, 23 May 1997
      746 words
    • 360 16 To advertise call toll-free 1800-741 1883 YOUNG PARENTS -When you want the best for your children NOTICE OF SPECIAL RESOLUTIONS GREENEARTH ENTERPRISE (PTEI LTD Al an Extraordinary General Meeting of members of GREENEARTH ENTERPRISE (PTE) LTD duly convened and held al 112 Middle Road #070} Midland House Singapore *****(1 on
      360 words
    • 8 16 Home Decor For people who love their homes
      8 words
    • 356 16 IN THE MATTER OF THE COMPANES ACT, CAP. M ANO IN THE MATTER OF NEPTUNE PRECISION ENGMEERING PTE LTD NOTICE OF SPECIAL RESOLUTIONS FOR MEMBERS' VOLUNTARY WINDING-UP (PURSUANT TO SECTION »0> At an Extraordinary General Meeting ol the members of NEPTUNE PRECISION ENGINEERING PTE LTD duly convened and held on
      356 words

  • EXECUTIVE Lifestyle
    • 1519 17  -  Stress at work may be on the rise, but executives today can also turn to an ever-growing number of enterprises offering innovative ways to help them work off that stress, ben mukrob reports BEN MUNROE Stress is automatically blamed as the cause of many a
      1,519 words
    • STRAWS In The Wind
      • 53 17 WORKING at Planet Hollywood seems to have turned some waiters into aspiring stand-up comedians. Like our "server" at the Liat Towers outlet who, when we asked to hold on to the menu, said: "Sure, but please don't eat on it." Then again, he might not
        53 words
      • 88 17 HAVING problems in the office? Perhaps you're not familiar with the unwritten rules of work, as defined by that long suffering employee, Dilbert: A pat on the back is only a few centimetres away from a kick in the butt. You can go anywhere if you look serious
        88 words
      • 93 17 A DOORMAN at a five-star hotel in the CBD area seems a little selective when it comes to providing "umbrella services" for guests. One wet afternoon, three local journalists who joined the hotel's taxi queue were glad to see how the doorman was cheerfully using his huge umbrella to
        93 words
    • VIEWPOINT
      • 1610 18  -  Computer wunderkind Michael Dell tells bbmmbth jambs how he gained success by breaking with convention and why his unorthodox approach makes sense KENNETH JAMES THERE he sits, his back to the Singapore skyline, a clean-cut, fresh-faced young man in crisply pressed shirt and tie. You have to
        1,610 words
      • 894 18 AT 32, Michael Dell heads a multi-billion dollar company that looks like it's going to keep growing like wildfire. "So where does someone like you go from here?" you ask. "To Penang," he shoots back with a grin. He's being literal, of course; the north
        894 words
      • 574 18 CHILDREN are becoming more savvy about computers, and that's a good thing, Michael Dell believes. "I think computerisation in schools is incredibly important. This is the language of the future. All the evidence suggests that when you get children exposed to computers, they learn very
        ERIC CHU  -  574 words
    • PURSUITS
      • 930 19  -  More than any other Asian religion, Buddhism has travelled farthest afield and held the greatest sway over the region' art and culture, mt mm views an exhibition that traces the artistic consequences of this religious movement IOLA LENZI IN THE COURSE of history, over half the world
        930 words
      • 834 19  -  Tamagotchis easy to raise, hot it's also a virtual bore By, Jaime Ee IAM used to receiving my pets in newspaperlined boxes, baskets, or tied to my door with rubber bone in mouth. What I am not used to is getting a pet
        834 words
    • 619 20  -  CINEMA If yon see just one gangster movie this year, make it Donnie Brasco. It has trne grit, lots of gats, and a surprising amount of heart By David Boey POOR service just doesn't pay, as the maitred' of a Japanese sushi joint deftly demonstrates in the prelude
      619 words
    • 769 20  -  CINEMA What in heaven's name has happened to The Saint? He has lost both wit and style in Phillip Noyce's big-screen revival. Worst of all, he isn't even English anymore By! Shahiron Sahari THE SAINT, for those of us familiar with the 1960s television
      769 words
    • 534 21  -  NIGHTSPOT This hangout at Changi Garden will soon pat yon in the right mood for fan By, A Surendren IF SOME guy tells you that he sings the blues at the Crazy Elephant and Saxophone on Sundays, then runs a place out east where "we
      SIEW YAW HOONG  -  534 words
    • WHAT'S ON
      • 71 21 Singapore Sinfonietta Made up of some 20 musicians from the Singapore Symphony Orchestra, the Singapore Sinfonietta will perform Bach's Brandenburg Concerto No 5, Barber's Adagio for Strings, Korngold's 'Much Ado About Nothing' Suite Op U and Gershwin's Just Another Rumba and Love is Here to Stay. May 6, 8.15pm
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      • 125 21 Sheep A visual dance performance by Dance Dimension Project. The seats from the Guinness Theatre will be removed to allow audiences to take part occasionally during the performance. Until May 6, Bpm daily at The Substation, Guinness Theatre. Tickets at $15 available at all Ticket Charge outlets. Call Dance
        125 words
      • Article, Illustration
        125 21 Wong Keen and Zhuang Shengtao The semi-abstract oil paintings of New York-based Singapore artist Wong Keen, and the contemporary abstracts in Chinese ink by Singapore artist Zhuang Shengtao will be on display. May 2 to May 24, 10am to 6pm daily (Monday to Saturday) at Shenn s Fine Art,
        125 words
      • 42 21  -  Compiled by M Yasotha Chinese Clan Associations In Singapore This talk takes a look at how these associations play a part in Singaporean Chinese cultural practices and cosmology. May 5, 9.30 am Ham at National Museum, Audiovisual Theatrette. Admission is free.
        42 words
    • EPICURE
      • 837 22  -  Desa Kartika goes easy on the coconut milk and lets the spices, rather than the cholesterol, do the talking, mime be samples the results JAIME EE INDONESIAN food, going by what is served in restaurants here, seems to consist essentially of tauhu telor, ikan
        PHOTO BY CHRIS LOH  -  837 words
      • 280 22 BUMBU started out as this odd little Indonesian cafe at Delfi Orchard that had aspirations to become another Hard Rock Cafe in addition to satay and nasi goreng, it sold baseball caps with a chilli emblem. Talk about tackiness personified. Recently, the restaurant
        280 words
      • 873 22  -  WINE CONNOISSEUR An authoritative panel pats same Californian, French and Australian wines to the test By N K Yong NORTHERN Rhone's Hermitage (Syrah) was, at the turn of this century, among the most expensive wines of France. Today it is somewhat overshadowed by Bordeaux and Burgundy, but
        873 words
    • Article, Illustration
      1132 23 Bemhola. Italian movie full of promises and excesses. R(A). Yangtze: 11.30pm. Breaking The Waves. A puritanical Scottish community threatens to scuttle a troubled marriage. Oscar-nominee Emily Watson turns in a riveting performance. R(A). GVMarina: 1; 6.9. Lido: 11;2;5.45;8.45; 11.45. Oriental: 11;2;5.45; 8.45, 12am. The Crueible. Pagan rituals exact a
      1,132 words
    • TRAVEL
      • Article, Illustration
        66 24 Crown Spa Tel 61-3-*****666 Fax 61-3-*****966 Hepburn Spa Reeort Tel *****2034 Fax 053-*****7 Tel (03)*****329 Fax (03)*****995 Hyatt Regency Cootnm Tel (07) *****234 Fax (07) *****957 Camp Eden Tel (07)*****333 Fax (07)*****225 Ckvwi jewel: scheduled to open in the middle of this month, Crown Spa is located within
        66 words
      • 1713 24  -  jSpas in Australia are attracting not just the local crowd but overseas visitors as well, uliam amo takes time off from sightseeing to enjoy a little pampering LILIAN ANG USTRALIA is A A better known for boxing kangaroos and sleepy koalas than mineral springs. But in
        1,713 words
  • Page 17 Advertisements
    • 6 17 Baffles Conversation Michael Dell EL 2
      6 words
    • 117 17 Pursuits Articles of faith Spink EL 3 You've sot 60 MINUTES to Wl N one of two smart cases. featuring Samsonite patented "smart-hinge" jpglflgjKLy For 4 weeks only, catch the Q7JSOmw6O Minutes Call-in Contest You stand a chance to WIN one of 2 unique Samsonite products. All you have to
      117 words



  • Page 20 Advertisements
    • 55 20 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 FREE! If you have found something, you can advertise for free in Classification 821 (Found) to seek its owner. tCall CJI.T.S.
      55 words
    • 61 20 Coming attraction. Rated PG. H I I H M I I M m I m W\ V I I 3L jl mm J1 Spill KMHN I^teFlS i' II bhhm|2 1 GET IT NOW! -iminmmm&MKm^immmmmmm Tunes the Bookshops NTUC Supermarkets Kinokuniya 7 Eleven MPH STOP PRESS kiosks Cotd Storage Shed Esso
      61 words

  • Page 21 Advertisements
    • 490 21 Where to wine, dine and entertain... Prcsentedby: 1,*****45 I kttp:// www. ana-kotels. com Not ju«t seafood either. Visit our home page and you can order tonight s dinner from our cyher selection. Browse through the menu, leave us your order and it'll he ready to pick up before you can
      490 words
    • 106 21 1 SOUTH AFRICAN fi FLAVOUR 4 4 GOES CANTONESE < <rt tAe Vepttroe fronr now tt/7 71 May. 4 Enjoy OrtrlcA dirAos. SoutA African J. 4 foron/y fora taMeof to. §j g Vbv covM win atrip to SoutA Africa I onj Mauritius in our Lucltjf Draw! CcJI «4 ?9T?/7t4 for
      106 words

  • Page 22 Advertisements
    • 77 22 Rising Occasion iI. m u-• °P cn^n g s anniversaries ISO certification 4^^HH^^MU^^^^^^^^^^^^^^^Bfound-breaking ceremonies WFw' f »-#tp yw tb» s, *y-w r These and other corporate milestones present perfect opportunities to enhance your corporate image with a self-funding special feature in our newspapers. For more information on how you can
      77 words

  • Page 23 Miscellaneous
    • 1756 23 TODAY'S TV IS Stars. MCOHIkaPiIBD fiawwfl 12.00 NN TV Innovations. Prince Valiant. LOO PM Tennis: ATP Tour 3 30 1116 Pastagums AnVIOP from oVer a famil V feud Things Highlights 1997 St. Pe *-00 Ya Alif!(r). get complicated when one tersburg Open 1997. 4 30 Columbus. Nanny Fine of the
      1,756 words
    • 236 23 RADIO Anatomy Of Addiction, BBC, he handles the buying and Saturday, L3opm selling of obscure strips of Why are humans prone to land. Then Katharine walks addiction? Some scientists say into his life, and for the first that instincts honed for time he starts to dream of survival over millennia
      236 words