The Business Times, 19 July 1997

Total Pages: 24
1 24 The Business Times
  • 14 1 THE BUSINESS TIMES MJTA (P) 083/12/96 85f SINGAPORE Internet- http://www.asial.com.sg/biztimes WEEKEND EDITION, JULY 19-20,1997
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  • 492 1  -  They were single largest foreign sellers daring period, says UK consultancy By Siow Li Sen [SINGAPORE] Investors based in Singapore appeared to have taken prtifits on their US equity investments far too early, according to figures from London-based Cross Border Capital
    492 words
  • 123 1 [NEW YORK] Bluechips plunged in early afternoon trading yesterday in a technology sell-off after Microsoft's release of earnings that analysts deemed disappointing. The Dow Jones industrial average, which fell 119 points about an hour after the opening bell, was off 100.58
    123 words
  • 592 1  -  Relaxation to include review of Msloo,ooo levy, says Anwar From Meera Tharmaratnam Compiled by BT in Kuala Lumpur MALAYSIAN Acting Prime Minister Anwar Ibrahim yesterday signalled a possible relaxation of restrictions on foreign property purchases, amid concerns that demand for real estate is
    Compiled by BT  -  592 words
  • 810 1  -  Mare tkan 37m iharw traded; stock doses at USsU«,ashade above the day's low Byi Conrad Raj [SINGAPORE] Asia Food Properties' debut on the Stock Exchange of Singapore yesterday was marked by a wave of selling, with its shares closing at US$l.l6. a tad above
    Compiled by BT  -  810 words
  • Page 1 Advertisements
    • 114 1 WKSBUm^ B II Sofyan Wanandi of the Gemala Group looks beck on Indonesia's recent parliamentary olecltonn ami explains why be feels that the business community will need more to absorb (he events f A m. il. I. tifwt past six mourns, ■matt* SUliif nf rilonil currencies Intensified yesterday ahead of
      114 words
    • 219 1 Timeless values. (B3 j|^ m Empire Period. t Geneva enamel. Duplex escapement movement by Hbery of London. These two exquisite watches, y The Rolex Day-D** in the shape of peaches, are V is appreciated for more called «For China... than just the twenty-five The craftsmen of Geneva were languages in
      219 words

  • SINGAPORE AT SOME & ABROAD
    • 374 2  -  laiiacMMMsuM day masic industry appeals for g*rt help iaflghtiag piracy By< Ang Wan May MORE than 78,000 pirated CD copies worth over $940,000 wars seised on Thursday, the same day the Singapore musk industry appealed to the government for more action on rampant CD
      ST/GEORGE GASCON  -  374 words
    • 461 2  -  Gtmmerdal sweetener market in Asia werth USs7som By Raju Chellam SINGAPORE'S Environmental Technology Institute (ETI) has tied up with the National Research Council of Canada (NRC) and Royal-Sweet Asia Ltd (RSA) to develop a natural sweetener 250 times sweeter than cane sugar.
      461 words
    • 218 2 TWO Singaporean retailers can now conduct cashless transactions with Visa cardholders half a world away via the Internet This marks the first time that Secure Electronic Transactions (SET) can be carried out across two continents. Visa International's European Secure Electronic Commerce (SEC) group, the
      218 words
    • 443 2  -  By 1 Teh Hooi Ling THE Telecommunication Authority of Singapore (TAS) yesterday fined Singapore Telecommunications a maximum amount of $5,000 for negligently causing interference to its rival Mobile One's network during its trial of a new handphone technology. This is the first
      443 words
    • 139 2 SONY Pictures Entertainment has established a US$6 million (SsB.7 million) satellite uplink facility here to provide satellite distribution to its affiliated programming channels and networks throughout Asia. The facility, to be run by its new company, SPTL Holdings, will be fully operational next
      139 words
  • Page 2 Advertisements
    • 84 2 r H > i 1 1986. ELDEE YOUNG PLAYS SOMERSET'S "I. )|||H W '*riMi w iii Hj H r 1997. ELDEE NOT-QUITE-SO YOUNG PLAYS SOMERSETS i' Eldee Youna, life man nAjo started it all at Somerset's Bar is back, Somerset s Bar s first guest musician, and one of America's
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  • Page 2 Miscellaneous
    • 292 2 THBWBtnuai Showers are expected in the afternoon, mainly over the Northern and Eastern parts of the island. Temperature (33-25) S S£==s£ §H 3£=ss .as g sfis SL s 5 SZ7 shxm tVU Ckmtr W» Oh* g-j Ji2 PMkIM mi Cta* Mcri»Ofr 004 _Q^r lIMOIW| WU Dbrai Omen llt'll Sfcuwui IhM
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  • FOCUS: PERSONAL FINANCE & INVESTMENT
    • BULL'S EYE
      • 614 3 Those polled for their views on the Singapore stockmarket outlook next week were: Alliance Securities, Credit Lyonnais, Daiwa, Deutsche-Morgan Grenfell, Fraser-AMMB, GK Goh, INGBarings, Merrill Lynch, Phillip Securities, WI Carr. Jaroof Engtneerfai| ♦(Bay) Fraser-AMMB Research, July 18, S3.16 JEL has formed a new steel fabrication plant in
        614 words
      • Article, Illustration
        376 3  -  Tay Kim Song Senior analyst Indosnez WI Carr SooBritiet HQS MALLERcapitalised stocks have become kj increasingly attractive. Many demonstrate superior earnings growth against more pedestrian blue chips. But the problem is finding small companies with sustainable long-term growth. This is where a set of measures to help
        376 words
    • 918 3  -  By < Clarissa Tan, Lee Han Shih [SINGAPORE] YOU'VE recently married, bought a flat, and would now like to furnish it with the necessary sofa, dining table and karaoke set. Getting them on hire purchase that is, paying for them in instalments looks an attractive option,
      918 words
    • 775 3  -  EYE ON THE REGION: HONGKONG Correction in property stocks should be seen as a Iraying opportunity From Quak Hiang Whai in Hongkong IT's two weeks into Chinese rule and the Hongkong bourse continues to trend upwards. But with nagging uncertainty plaguing the
      775 words
    • 548 3  -  Warren Buffet displays ctmmoosense and wit in a new book By\ Raju Chellam Warren Buffet Speaks: Wit And Wisdom From The World's Greatest Investor By Janet Lowe Published by John Wiley Sons, 194 pages, $25.95 "IF A graduating MBA were to ask me, 'How
      ERIC CHU  -  548 words
    • 653 3  -  By Christopher Tan [SINGAPORE] CYCLE Carriage is unlikely to maintain double-digit earnings growth this financial year, according to sources close to the company, despite analysts' predictions to the contrary. The July issue of The Estimate Directory has a consensus forecast
      653 words

  • TURMOIL IN CURRENCY MARKETS
    • 464 4  -  SINGAPORE Hedge fond selling intensifies; selling *Mre pronounced in ringgi t, ropiAh By Larry Wee SELLING of regional currencies intensified ahead of the iMekend in both Asian and early European trading. The Singapore dollar closed at a 30month low of 1.4680 to the
      Source: Dow Jones  -  464 words
    • 197 4 SINGAPORE AFP THAILAND faces more political tension and the probability Of a financial "meltdown" is rising after the de facto devaluation of the baht, according to an international investment house. "We are unconvinced that the de facto devaluation of the baht will solve the present economic
      AFP  -  197 words
    • 118 4 WASHINGTON Reuter SHE US Treasury and the International Monetary Fund Ae on high alert over financial turmoil in emerging marSets that has sent stocks and currencies plunging lower, Whe Washington Post reported in markets from Southeast Asia to Latin America and Eastern
      Reuter  -  118 words
    • 285 4 WELLINGTON AFP. Reuter SPECULATORS sent the New Zealand dollar slumping to an 18-month low against the greenback yesterday, pushing short-term interest rates to their highest levels since the end of 1996. Despite a steadier picture by the end of yesterday's trading session, the outlook for market
      AFP.; Reuter; Source: Bloomberg  -  285 words
    • 538 4  -  SINGAPORE By\ Siow Li Sen DESPITE the pall overhanging Asian currencies, the Malaysian ringgit and the Singapore dollar are still attractive, with the latter becoming even more so, said London-based Cross Border Capital (CBC), an asset allocation advisor. CBC analyst Mark Clayton
      538 words
    • 125 4 SAO PAULO Bloomberg BRAZIL'S money market rates rose after stocks plunged 6.7 per cent, on concern investors are pulling their money out of mutual funds that invest in balanced portfolios of stocks and fixed-income securities. The projected 30-day rate on one-day interbank
      Bloomberg  -  125 words
    • 483 4  -  TOKYO From, Anthony Rowley THAILAND'S finance minister Thanong Bidaya got no promise of official financial support from Japan except for a pledge yesterday from his Japanese counterpart Hiroshi Mitsuzuka that Tokyo would "intervene" to support the baht "as and when necessary".
      AFP  -  483 words
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  • REGION
    • 341 5  -  HONGKONG Officials working on next budget considering tax cats, says Radio Hongkong By] Loh Hui Yin FURTHER signals emerged yesterday that Hongkong's budget for next year may cut the current 16.5 per cent corporate tax rate already one of the
      341 words
    • 189 5 BEIJING Bloomberg CHINA'S consumer prices rose at their slowest pace in six years last month as falling food prices keep Chinese inflation under wraps. The consumer price index rose 2.8 per cent, unchanged from May, the lowest since AprU 1991. For the
      Bloomberg  -  189 words
    • 372 5 BANGKOK Reuter THE first meeting in two years between a top Myanmar general and leaders of Aung San Suu Kyi's opposition party is a key step towards improving relations between the two sides, said diplomats and a government official yesterday. Lt-Gen
      Reuter  -  372 words
    • 449 5  -  ÜBANGKOK By] Harish Mehta THE raids by Thai police on two foreign brokerages on Thursday could discourage foreign capital inflows into the Thai economy which is suffering from a crippling liquidity squeeze, analysts said. Thai police raided the offices of
      BT Jul 18  -  449 words
    • 426 5 WASHINGTON Bat measures will require support from legislators and Clinton AFP ATTACKING President Bill Clinton for "appeasing" China, Republican leaders unveiled a legislative package on Thursday aimed at China's military, missile sales and human rights abuses. Their 11-point package would tighten a ban on prisonmade
      AFP  -  426 words
    • 459 5 KUALA LUMPUR First PM designate Ung Hoot has made appeal far admission AFP MALAYSIAN Foreign Minister Abdullah Ahmad Badawi hinted yesterday that Asean might accept Cambodia as a new member next week. Mr Abdullah said the Cambodian government was still sorting
      AFP  -  459 words
    • 534 5  -  TAIPEI Ho formal economic ties means no safety net for Taiwan firms By Bruce Cheesman TAIWAN, one of the top four overseas investors in Cambodia, has the most to lose from continued fighting in the country because there are no official
      534 words
  • Page 5 Advertisements

  • THE WORLD
    • 317 6 BONN Reuter [BONN] Chancellor Helmut Kohl said yesterday that German economic recovery was gathering pace and Bonn would fulfil the convergence criteria to qualify for European economic and monetary union (EMU). "For me it is clear: Germany will fulfil the criteria. The euro
      Reuter  -  317 words
    • 53 6 [CARACAS] Pet dogs and their owners protesting at the gates of Venezuela's Congress building in Caracas on Thursday to ask Venezuelan congressmen to approve a law on animal protection. The signs around the dogs'necks read, "Take core ofme, I have feelings", and "I want peace
      REUTER  -  53 words
    • 528 6 WASHINGTON Record imports help posh shortfall put USslob; deficit with Japan narrows as China gap grows Bloomberg THE US trade deficit in goods and services widened in May as exports fell and imports increased to a record level for a fourth consecutive
      Bloomberg  -  528 words
    • 373 6 LONDON Slowdown likely within 18 months, says ABNAmro Bloomberg THE UK manufacturing industry is likely to slip into recession within the next 18 months as the rising pound and higher interest rates increase the cost of products shipped abroad, ABN Amro Hoare Govett said
      Bloomberg  -  373 words
    • 327 6 WASHINGTON scale back proposal for integration of banks, non-financial firms Bloomberg FEDERAL Reserve chairman Alan Greenspan on Thursday urged Congress to scale back a proposal that would permit a limited integration of banks and non-financial firms. Testifying before a House Commerce subcommittee, Mr Greenspan
      Bloomberg  -  327 words
    • 398 6 m PARIS Andit remits seen showing France has shot ever EMU target Reuter PRIME Minister Lionel Jospin pondered the final choices on tax rises and savings measures yesterday ahead of an audit of public finances expected to show on Monday that
      Reuter  -  398 words
    • 364 6 WASHINGTON Washington Post TRAFFIC on much of the Internet ground to a halt early on Thursday after a series of human errors, including an unprecedented glitch at the Herndon, Virginia, company that maintains the Internet's address registry and the accidental
      Washington Post  -  364 words
    • 752 6  -  LHTTHEFBOM MOKAMHMTO Clinton's mob talks the talk, while Gates' go-getters walk the walk By Leon Hadar AS I was leaving Washington, DC recently on my way to the West Coast for a short visit, attention in the US Capital was focused on the political and financial
      752 words
  • Page 6 Advertisements
    • 42 6 jjj Chinatown "Food Alley" Top Class <■<■«•» Selection rgj T T T r r Brand New Condition |=j With Air-con, Lift, "Dumb Waiter" s I sb -ii Serves All Three Floors r=i Available Immediately m I Call: CKS *****018 jjj J BBS Y5R*****33
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  • COMPANIES & MARKETS
    • 408 7  -  Parkway-linked investors to launch takeover of Indon-controlled firm at SL46 cash a share By Ven Sreenivasan [SINGAPORE] A group of investors linked to listed healthcare and property group Parkway Holdings is moving in on Indonesian-controlled Asiamatrix in what will be the second takeover of the
      408 words
    • 496 7  -  By] Ronnie Lim [SINGAPORE] Sembawang Utilities and Terminals (SUT), which is building a $250 million base on Pulau Sakra to provide utilities to industries there, plans to build two other satellite terminals on the soon-to-be amalgamated Jurong Island. Further afield, it is also exploring
      CHRIS LOH  -  496 words
    • 666 7  -  HOCK LOCK SIEW Lee Han Shih BARRING a miracle, investors holding 21 million CarnaudMetalbox Asia (CMB) warrants will have to write them off as worthless paper come December 1996. Divine intervention aside, the only way the warrants might see some
      666 words
    • 181 7 [SINGAPORE] The pre-trial conference (PTC) of CAM International Holdings founder and largest shareholder Raymond Chew Chuan Seng was yesterday fixed for Aug 16. Chew, 39, Cam's former chairman and managing director, was charged on May 24 by the Commercial Affairs Department for
      181 words
    • 410 7  -  Cbb Nnansa plans to sell memberships at under $20,000 each By, Ang Wan May [SINGAPORE] NTUC Income and mainboard-listed Alliance Technology Development are building a cluster of 20 resorts to cater to 12,000 members they hope to draw over the
      410 words
    • 367 7  -  ■urbMkaalMin US$ far their products, while up—iiwinShtf By Annette Pau [SINGAPORE] Local electronics manufacturers are likely to benefit from a depreciating Singapore dollar against the greenback as many of them book sales in US dollars for products exported there, said analysts.
      367 words
    • COMPANIES
      • 509 8 Popularity of Chinese stocks creating a volatile 're-emerging' stockmarket with new players and capital AFP [HONGKONG] The "China play", or the influence and attraction of Chinese stock offerings illustrated by the fever for red-chip stocks, is changing the nature of the Hongkong bourse and making
        AFP  -  509 words
      • 327 8 AFP [BANGKOK] Thai Airways International said yesterday it would issue 250 miUion shares later this year and that further tranches of public offerings would eventuaUy amount to a privatisation of the company. Thai chairman Mahidol Chantrangkul said the share
        AFP  -  327 words
      • 88 8 [SOHARI, South Korea] A South Korean employee ofKia Motors grinds down spot welds on a car doorframe at the company's Sohari automobile plant yesterday. Kia's normally militant union has decided to collect some 100 billion won (Ssl63 million) from its members and donate it to Kia
        REUTER  -  88 words
      • 474 8  -  It boys options which may lift its stake in Chile's biggest bank From Quak Hiang Whai in Hongkong HSBC Holdings has agreed to buy options which may lift its stake in Chile's largest bank, Banco Santiago, further expanding the London-based banking group's exposure in
        474 words
      • 401 8 Project's banks want to reassess financing structure AFP, Reuter [HONGKONG] Hongkong utilities builder Hopewell Holdings Ltd said yesterday that a contract to build a US$3.2 billion (554.67 billion) transport network in Bangkok had been hit by Thailand's economic and currency crisis and
        AFP,; Reuter  -  401 words
      • 444 8 BAKU* DISPUTE Ekran shares hit by concerns over possible dam project delay hut recover in late surge AFX-Asia [KUALA LUMPUR] Acting Prime Minister Anwar Ibrahim said Asea Brown Boveri (ABB) and Ekran Bhd have been given a week to resolve their
        AFX-Asia  -  444 words
      • 319 8 Pretoria project will bid for gaming licence, Genting to take 50% stake Reuter [JOHANNESBURG] South Africa's Magic Kingdom Holdings, a mainly black investment group, and Malaysia's Genting International said on Thursday they aimed to build a new entertainment and retail development in
        Reuter  -  319 words
      • 206 8 AFX-Asia [HONGKONG] China Everbright International Ltd is to raise about HK$l billion (*****.3 million) in a l-for-4 rights issue at HKS2.SO per share, a source close to the company said. The company suspended trading yesterday morning pending an announcement. China Everbright
        AFX-Asia  -  206 words
      • COMPANY Briefs
        • 37 8 [SINGAPORE] Singapore Petroleum Company has appointed Bertie Cheng to Its board of directors and its audit committee with effect from yesterday. Mr Cheng wis most recently the chief executive officer ofPOSßank.
          37 words
        • 39 8 [SINGAPORE] Lifestyle products marketeer Roly International said it has appointed Hongkonger King Yeo Chi to its board with affect from July 16. Prof King serves as an independent nonexecutive director v <* 4 J*-
          39 words
        • 45 8 [SINGAPORE) ST Computer, Singapore Technologies IX)gietics(STL)andBTTak»icommiiniCTttons(3TT)have agreed to»U their shareholdings ofl7o^oo,l7o,oooand 245,000 shares respectively in Cyberaaart to Wee Kim lUn. In return, Mr WSe will assign to ST Cotuputsr, STL and > STT all hie rights under three convertible notes issued to himbyCybermart
          45 words
        • 56 8 Bloomberg (JAKARTA] PT Indoaat, Indonesia's dominant totarnatioiMn phone will invest TOObllUon rupiah (Ss4o6 million) to upgrade its network and eliminate gape In its coverage, Indoeat president TJahjono Soerjodibroto said yesterday. The company will also invest an unspecified amount in PT TeOramad, a oe&alBr wrvfoa provider it
          Bloomberg  -  56 words
        • 78 8 Bloomberg [JAKARTA] PTCitra Marga NusaphalaPersada, a toll-road company owned by a daughter of Indonesian President Suharto, had itspiantoraiaesoohfllionrup4ah (SS29O million) in a rights oflfer approved by shareholders on Thursday, dealing the way Cur construction of a Surabaya toll road. Each holder ofooe
          Bloomberg  -  78 words
        • 66 8 Bloomberg [JAKARTAJ PTBakrie Finance expects I9BT net profit to rise to 90 billion rupiah (8117.4 million) from 11J billion rupiah in 1906, Bisnts IMumki uewspapw said jestsnlay. The newspeper cited company official Tito D Suharto as -M saying that the profit rise will be gsnerated
          Bloomberg  -  66 words
        • 55 8 [PENANOJ Leader Universal Holdings Bhdwiflcapttaßet on opportunities in the feat-growing economies of Asia by penetrating their power and lulai <wimnnh slion-relam industries, executive chairman H*ng Bok San said yesterday. He said the groupie looking at Indonesia and Thailand after having auccesaftiUy undertaken projects in Cambodia,
          55 words
    • REGIONAL/INTERNATIONAL COMPANIES
      • 633 9 BOOM FOR US BLUB CHIPS Q4 net income at USsl.96b bat shares dip as results only just bent forecasts Bloomberg [REDMOND, Washington] Microsoft Corp's fiscal fourthquarter profit rose 90 per cent, beating analysts' estimates by a penny, on sales of its Office
        Bloomberg; Source: Bloomberg  -  633 words
      • 357 9 Reuter [CHICAGO] Long-time employees of Woolworth's five-and-dime store on Chicago's State Street grew tearyeyed after they were told on TTiursday that their store and 400 others like it would be closed. "It's so sad," said Dorine, a 20-year employee who has worked
        Reuter; REUTER  -  357 words
      • 258 9 Settling car dealer claims may cost firm Unions of dollars Bloomberg [TOKYO] Honda Motor Co shares fell 8 per cent yesterday, hours before US car dealers request class-action status for lawsuits claiming the carmaker gave preferential treatment to dealerships that paid off
        Bloomberg  -  258 words
      • 314 9 Bloomberg [OAK BROOK, Illinois] McDonald's Corp posted sec-ond-quarter earnings just below expectations, as a strong performance overseas offset a US business that now faces a cutback in its expansion plans, the company disclosed on Thursday. The world's largest fast-food company
        Bloomberg  -  314 words
      • 369 9 Bloomberg [MOUNTAIN VIEW, California] Sun Microsystems' fiscal fourth-quarter profit beat expectations as revenue rose 26 per cent, paced by strong sales of Its computer servers. The computer maker said net income rose to U*****.2 million (***** million), or 61 US
        Bloomberg  -  369 words
      • 316 9 Bloomberg [IRVINE, California] Western Digital Corp said its fiscal fourth-quarter earnings almost tripled on sales of disk drives for personal computers. The disk-drive maker reported net income of US$B7.9 million (*****.3 million), or 95 US cents a share, up from U5532.7 million, or 36 US
        Bloomberg  -  316 words
      • 557 9 Asset-backed secuitiesanarea they are excelling in Bloomberg [NEW YORK] Although Wall Street isn't known as a place where women rule, there's a fast-growing segment of the securities business where they are gaining more clout than perhaps anywhere else in the industry. While
        Bloomberg  -  557 words
      • 166 9 Bloomberg [CUPERTINO, California] Apple Computer shares rose 6.4 per cent on Thursday after the struggling computer maker reported a lower-than-expec-ted loss for the Fiscal third quarter. Apple shares rose U551.0625 to U5517.50 in trading of 6.66 million, almost Ave times the three-month daily
        Bloomberg  -  166 words
    • FINANCE & COMMODITIES
      • 525 10 Bond trader says fall due to declines in tra ding and investment banking Bloomberg [NEW YORK] Salomon Inc, the world's biggest bond trader, said second-quarter profit fell 26 per cent, led by declines in trading and investment banking. Salomon, the parent of Salomon
        Bloomberg  -  525 words
      • 383 10  -  Its retain rise in natural disaster claims sparks debate By\ Soh Tiang Keng [SINGAPORE] Global warming, with the possible rise of natural disasters and insured losses, is becoming a matter of growing concern among insurers in Asia and other parts of the world. Global warning is
        383 words
      • 239 10 Reuter [MEXlCO cmn The global insurance industry is on the brink of enormous change, as banking deregulation sets the stage for large-scale mergers between the two industries, a Morgan Stanley investment banker told a conference here. Gary Parr, head of Morgan Stanley's global insurance
        Reuter  -  239 words
      • 300 10 ENERGY REPORT Reuter (LONDONI World oil prices drifted lower yesterday as downward pressure from looming Iraqi oil sales was partially offset by strong cargo markets for crude oil and petrol. Brent crude oil, the world benchmark grade, was down eight cents at US$lB.6l
        Reuter  -  300 words
      • 149 10  -  MsaTAiwAiv futures -By Perry Gilbert Perry Gilbert, vice-president, Refco Singapore Pte Ltd (SINGAPORE] The Simex MSCI Taiwan Stock Index futures closed almost unchanged yesterday at 412.8 for the July contract. Trading was volatile, reflecting another strong move in the cash index as electronics
        149 words
      • 248 10 [NEW YORK] Increased manufacturer capacity and growth in demand are expected to bolster US cocoa grindings in the second quarter of 1997. Most analysts expected the US second quarter grind to rise by 5 to 10 per cent compared with the same period
        248 words
      • Article, Illustration
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      • 436 10 USS/aark: The US dollar started the week on a bullish note, soaring to a high of 1.8035 by Tuesday before settling to consolidate between 1*7848 and 1.8020. The technical picture remains bullish, with resistance seen at 1.8035, at 1.8350 and then at 1.8430. However, a
        436 words
      • 273 10 AFP THE US dollar rallied against the mark at mid-day following remarks by German chancellor Helmut Kohl expressing a lack of concern about the, mark's weakness. At 1215 GMT, the dollar was up to 1.7979 marks against 1.7922 on Thursday evening. It stood at 115.77 yen against Thursday's
        AFP  -  273 words
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      886 words
    • 1703 11 *m Nw 31 Group 487 -1.400 A8Ptrtf >mnn -2.600 AkPoy National S62.400 -29 *****0 -5 Amac 165.400 unch AlPa Group M7.400 *3 ■ATM 521 -16.400 BGPfc 250.400 6.400 ■KX 172.400 -5 tOC Group 1077 -***** BRPotrotaum 812 *5400 ■TO 199 -2 Bank of Scotland 424.400 -***** Barclay*
      1,703 words
    • 1524 11 AFP □Nikkei 226 -MM3 SHARE prices closed 1.3 per cent lower yesterday as investors adjusted positions ahead of a three-day weekend and concern over a downturn on Wall Street, brokers said. "As there was concern that Wall Street will extend its declines today, both domestic and foreign securities houses'
      AFP  -  1,524 words
    • Article, Illustration
      1475 12 Bloomberg QHangScag -13&8 I STOCKS fell yesterday as HSBC tumbled for the first time in six days. HSBC, which accounts for more than one-quarter of the benchmark Hang Seng Index, slipped 5 per cent. The UKbased bank gained a fifth this month on optimism its expansion in fast-growing markets
      Bloomberg  -  1,475 words
    • Article, Illustration
      602 12 Reuter |3 Shaahanß Index -0-47 THE Shenzhen B share market ended a quiet session slightly lower yesterday, with many foreign investors diverting funds to Hongkong-listed H shares. The B Index closed at 133.17 points, down 0.47 on a turnover of HK$46 million. The A Share Index gained 4.51 points
      Reuter; Source: Credit Lyonnsis Securities(Asia) Ltd  -  602 words
    • 336 12 AFP 11WP fate ♦M6JD STOCKS rose yesterday as investors bought electrical issues that had been sold off in the previous session. "The rally was driven by investors pursuing electricals, though we saw no major improvement in the sector's fundamentals," said a dealer. The Weighted Price Index rose 105.60 points
      AFP  -  336 words
    • 242 12 Reuter QWaDjagtoß -HITS SHARES closed weaker yesterday after a big fall in the currency and a rise in short term interest rates that hit yield-sensitive stocks. The NZSE-40 Index lost 18.75 points at 2,475.91. —Reuter mm n rww AN2 Banking tliS *0.05 ***** Atfvontogoi HMqi 108 uncti *****0 Akr
      Reuter  -  242 words
    • Article, Illustration
      798 12 AFP □SET Mm -2JI SHARE prices fell yesterday as speculative buying in electronics and finance firms partially cancelled out profit-taking on recent gains ahead of a long weekend. Analysts said most investors took to the sidelines awaiting results of a visit by Thai financial officials to Tokyo, where they
      AFP  -  798 words
    • 369 12 AFP rlOnpiritehig +7JB SHARE prices rose yesterday on a technical rebound after four days of falls sweetened by hopes of government market stabilisation action. Dealers said possible government stability measures include an earlier-than-sched-uled increase in the foreign investment limit a lowering of the stock transaction tax and a delay
      AFP  -  369 words
    • 560 12 AFP HJIH Afl OrtfcMuri— ♦US SHARE prices rose yesterday, spurred by strength In the gold and resource sectors. Brokers said a stronger gold price injected life into the ailing gold sector but people were sticking to the better known stocks. The All Ordinaries Index closed 14.5 points higher at
      AFP  -  560 words
    • Article, Illustration
      638 12 Reuter POwnporite Intel +QJSQ STOCKS ended slightly higher yesterday after they fell briefly on concern over a late tumble in the rupiah. Brokers said sustained buying in blue chip Telkom and Bank Negara Indonesia lifted the Composite Index by 0.50 point to 724.00. Shortly before the close the index
      Reuter  -  638 words
    • 274 12 AFP Manila «6U7 SHARE prices rose 2 per cent yesterday due to the gradual stabilisation of the peso and cuts to overnight interest rates. The PSE Composite Index rose 52.57 points to 2,672.95. Turnover was 3.1 billion shares worth 2.4 billion pesos. Philippine Long Distance Telephone fell five pesos
      AFP  -  274 words
    • KUALA LUMPUR STOCK MARKET
      • 7747 13 jppcnms < y*v 1MT ""EST on Nat C» >S» Low Company m» -000 HN> L— 7M 540 A0nomot« 545 uneh J 545 545 30J 220.9 441 293 AoqMu 2* uneh 49 290 29J M 439.4 90S 6W ApoNoFoodMg MO 20 13 6M 6M 272.0 428 W Borteva tad 291 (4Hi
        7,747 words
      • 232 13 AFX-Asia QOmpoatobin 4M SHARE prices closed lower yesterday, led by falls in Tenaga and concerns over a weakening ringgit. Dealers said late buying support by local fluids pushed the index to close above the 1,000-point psychological barrier. The KLSE Composite Index lost 2.54 points
        AFX-Asia  -  232 words
    • WARRANTS & OPTIONS
      • 3110 14 1097 l«t VH In UMtak l— mm Clin roow l— r* urn 64 44 m 3000 m AMOO CS3H*****4 44 4 44 44 43.5 443 •7 413 3160 *C«r WOWT31 US) *4 143 41 55.5 40 42 131 M 31*4 AOMW0W724 693 -OiS 20 4*3 49 69.5 TO 71 53
        3,110 words
      • 189 14  -  WARRANT WATCH -By\ R Sivanithy NEW warrants are always Interesting and the latest, Asia Food Properties' ***** instrument, is no exception. The warrant issued by the former Amcol Holdings was among yesterday's most actively traded counters and swung wildly on its first day
        189 words
      • 1831 14 Sr «r M*7 Urt VM My MMi M* Mr VM IM MM» In Mi CiMHI »M COO* MM L— Myar M» Cw Mi 47S 270 MS 9000 AS! 90c 27* HO M 27S 274 27* MO 93 U W Ml 137 Ml 9001 AMDS 90c 123 -15 04
        1,831 words
    • STOCK EXCHANGE OF SINGAPORE
      • 3 15 |vijj)fHjPi|^^ 1 v«<0
        3 words
      • 3143 15 Transaction D.itf Jul 18| Or Or m m Ml Ow Uat Qaata Ota Ota W M Cm _Ay% MO u. owo. roooi o—i um mitrn cr o/k flww SH4 ASCNT*K)20Q Ut- I I I I I |fli MS 199 U7S ASfWkWO USMS m f*S ION *t 04 IO
        3,143 words
      • 907 15 •r *r I M mi LMt «M to LHitMM M* m t* tot to to H—i to Atto Cimm* tto *h WOW Wto> mmr tour Cw HI g »to MA 7* 2000 MRNMWI9C WT 4 £2 "I WT W4 M J 314 144 4 204A AStotolOc- 3Mc4 22 25
        907 words
      • Article, Illustration
        74 16  -  Ven Sreenivasan DAIRY FARM, which has been on the uptrend sine* the middle of last month, dosed 015 US ant higher at Uls US cents yesterday. This is close to its 52-week high qf 85 US cents. This may not be an opportune moment to pick up this
        74 words
      • 678 16  -  STOCK MARKET COMMEVTARY Besides currency concerns, market is cautions ahead of release of Jnne trade data and Greenspan's economic report By R Sivanithy [SINGAPORE] Investors yesterday continued to bet on an expected appreciation in the US dollar by punting stocks traded in
        Chart info from Bridge  -  678 words
      • 194 16 Stacks W— Asia Footffrop 37,258,000 Tian|in Zhonq 17,206.000 CM Tttecon 75c 13,510,000 WaliSNng HK50c 9,696.000 Kaiy MUSIOc 6,600,000 Popular 10c 6,480.000 Hiatal tOc 6,072,000 Uracoit02 5,850.000 H«anHsinUS20c 5,100,000 IM, Asia FoodfcProp 45*71,020 Tianjin ZDonq 25,299,396 OtS Foreign 24,387,724 U08 Foreign 24.087.121 OCBC Foreign 21,413,416 9A Foreign *****,408 CreativoT2Sc 16,*****5 City
        194 words
      • ON THE GRAPEVINE
        • 149 16 A PETROL price war In Singapore could be on the cards, as other oil companies are unlikely to leave Caltex's recently launched 100 octane petroleum alone. But most people know that there is little difference between one petrol and another —meaning that your car isn't going to
          149 words
        • 126 16 TALK about Ban HinLeong and one thinks of its trademark, SpringleafHome. Credit goes to chairman Richard Lim, whose marketing of the brand conveys a asnse of quality to all BHL projects. But does anyone remember BHL as the developer of a Yio Chu Kang project called
          126 words
        • 55 16 WE DONT need the weaker Singt to tell us that London is an expensive place to live and holiday in. According to London-based Cross Border Capital, an asset allocator advisory, "house price inflation is again accelerating and, If an index of trendy restaurant openings existed, it
          55 words
        • 134 16 SPEAKING of the weaker Singapore dollar, there ia this recent report from Jardlne Fleming Reeearch bravely entitled: "Ss/UBs rate poised to appreciate". The report was leeued In May. Soon alter tt landed on peopfee* desks, the SingS started its deeoent Since June 2, the Singapore currency has slid
          134 words
        • 85 16 JAMBS MCCARTHY, general mstiagrref DBS Bank's sssst management arm, hat quit, and plans to move back to the United ym* States after having spent nine years In Asia, the tost three with DBS Asset Management In Singapore. It Is understood that Mr McCarthy hasn't finalised his plans, but
          85 words
        • 77 16 MORGAN STANLEY haa been vary active in Hongkong—scrutinising properties tor Sino Land, helping to underwriter IPOtor Beijing Enterprises, for example Adding to its workload is a lawsuit filed by Berlin Financial Corp. Berlin alleged that Morgan offend it (in a letter) "I BeUing Knterpriaas shares prior to the
          77 words
  • Page 7 Advertisements
    • 132 7 ■aVUIU U A "g The fast-expanding stockbroking arm of a listed Malaysian I group is inviting suitably qualified Malaysian professionals to write in for the above key post. The incumbent should meet with the following prerequisites: Singapore equities at a senior level for at least 3 I University or professional
      132 words

  • Page 8 Advertisements
    • 107 8 P*™?UTIVE Appointments B A Nator 4MM M 9 H We are looking far pleasant and hantooriting peopte to join our expancfng staff force. jfl I %mjMmce Office* 1 Relevant Degree Good Corrrnunicatxxi skis M. least 2 years' experience r auci work B Expected to plan and perform B| B compiance
      107 words

  • Page 9 Advertisements
    • 162 9 m YIS Appointments I TNI INSTITUTE OF POLICY STUMCS (IPS) I I IPS is a public-policy think-tank. Its primary objectives are to conduct I research and to organise conferences and discussions on issues of major concern to Singapore. IPS invites applications for the foHowtng positions: I I You should have
      162 words



  • Page 12 Advertisements
    • 29 12 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 ■BMHBW The Business Times and Lianhe Zaobao.
      29 words


  • Page 14 Advertisements
    • 141 14 W. -HC comes to you I '<■*»«>MH»«l»mt»r (pi-.,rtiromon.) ci/i-bi/ .jVtimj MPM. Tim* Th« Bootahop, J One yeer<l2 Imum) at 964 Charyeto my cart Vlsa/Amax/Master/Diners y EVERY CM*no* j Half a year (6 issues) at $90 (please circta to indteate) I fSBP ....gives you a c~.no. I fjK chance to win
      141 words

  • Page 15 Advertisements
    • 25 15 Find Out How You Can Get A Credit Line Of Up To $300,000* With Hong Leong Finance Singapore Finance's $hus HONG LEONO FINANCE SINGAPORE FINANCE
      25 words
    • 54 15 Our auto listings won t steer you m ClanMed for the best |VM wrong! <Mson«Ms. S more information on Plus. Name: Address: Tel: (H) (0) j Return this coupon to: I I lon* Leoig Flmbcc Groap I ProiaoUoas Pcicloyct DcparUaeat I 470 North Bridge Road *05-01 StagipoK *****3 Or fax
      54 words

  • Page 16 Advertisements
    • 633 16 IXtSBKBSS Notices THE COMPANIES ACT, CAP.» snmcH Singapore pte ltd J U|aHadia) SPECIAL RESOLUTIONS PASSED ON JULY 1997 At an Extraordiaary General Media* of the company held at No 6 Jalan Ampas •03-01 Sarnie 3M507 oat day of July 1997 ihe following special resolutions were patted:(a) That Seriiecli Singapore fte
      633 words
    • 125 16 LEGAL wmmmmmmi (7 IBBSrj It IMOMNT trniti Our hotline offers you a one-stop service to gain quick access to topics you've always wanted to know. Simiply call the hotline enter the 6-digit code. You can also get a quick estimate of your legal fees in a property transaction by entering
      125 words
    • 259 16 lb advertise call toll-free 1800-*****83 Are You THROWING AWAY POTENTIAL PROFITS? Recommendations from experts Uaaful tips on what to buy, m// or hold. Allocation Results usingCDPNos. >I^*. Wondering A m> which rnhmrm raault? Call 740-2350(24~hr8) ch ck fr**- Q CaWa coat only 80a par a mImO) Singapore Business Giving you
      259 words
    • 229 16 Hrws at yourfinqertips Thanks for your support, the calculators were given out! But, you still stand a chance to win one of our air tickets USA, UK or Australia. Hurry! Subscribe now, you you a crisp summary of the week's major happafcy in Singapore and in the Asean region. Covering
      229 words

  • EXECUTIVE Lifestyle
    • 1982 17  -  jat braved the rain during the s Hongkong handover for a look at architectural stage-sets in a city torn between parly ideologies and handover parties where the question of > how one departed from a former colony seemed as significant as where one made a speech JAY
      REUTER FILE PHOTO; AFP FILE PHOTOS; HKTA; PETER ODOK; HKTA PHOTOS  -  1,982 words
    • STRAWS In The Wind
      • 61 17 AN EMCEE at the recent President's t< Charity Ball must have been a real v movie buff. When she had to announce the arrival of President Ong Teng Cheong and Mrs Ong, she accidentally t; referred to Mrs Ong as First Wife, rather than First Lady. Looks like
        61 words
      • 105 17 THIS IS what we call practising what > you preach. New Zealand Milk Prod- ucts (Singapore) Pte Ltd has just launched a nutritional supplement supposed to help breast-feeding mothers. At the same time, it's also changed ita company policy to enhance its reputation as a "Mother Friendly" organisation.
        105 words
      • 94 17 MAN brings dog with broken leg to well known local vet. Vet looks at X-ray and says, "OK, we'll have to fix the right leg." Man is puzzled. "But, uh, isn't it his left leg that's broken?" Vet looks at X-ray again: "No, the X-ray
        94 words
    • VIEWPOINT
      • 1649 18  -  l-.Af. THE RAFFLES Conversation Sofyao Wanandi of the Gemala Group looks back on Indonesia's recent parliamentary elections and tells s h n JjJ immunity will need more time to absorb the events of the past six months. He also speaks about the growing wealth gap in
        1,649 words
      • 496 18 OFYAN Wanandi was a student activist in 1965, a momentous time in recent Indonesian history. He was the head of a Catholic student organisation iwhen there was widespread public anger jfcgainst the growing communist influence in President Sukarno's government "Though I was active in student groups, my
        496 words
      • 410 18 THKRR'Is a popular perosptjpn that toy* oting around the constrr Bofyan Wenandi diasgress. "I think an tbe p*Bc weir was ir ally directed against the gevsrnmsnt The Chinese comaum# and the churchnwere only Intermediate tarChinese tycoon Liem Stoe Hong's recent remarks that he was a patriot, deeply
        410 words
    • 721 20  -  NIGHTSPOT Table capers, flying juice and a strange crowd you'll find them all at The Jump By\ Ben Munroe THERE will be those who love the idea of "one-stop non-stop entertainment" as propagated at The Jump restaurant, bar and nightclub. There will also be
      721 words
    • 507 20 BRITISH OPEN W«4d No 1 suffers* quadruple-bo#ey eight in the second round Reuter [TROON, Scotland] Tiger Woods suffered a quadruplebofey eight in a three-over-par 74 to trail leader Darren Clarke by 13 shots in the second round of the British Open at Royal Troon
      Reuter  -  507 words
    • 501 20 AFP [TROON, Scotland] Mardan Mimat, Singapore's first entrant in the British Open, said it bad been a humbling experiertce on the "toughest course" he;had ever played. a 'The second nine was unevable. The shortest club I hi( for my second shot on the P3- fours
      AFP; FILE PHOTO  -  501 words
    • 777 20  -  Tiger WoodsowcuM the elements to short a handy opening 72, tat there's more to como By Dave Anderson NYT [TROON, Scotland] At Royal Troon, the 11th hole is known as "the Railway" for the trains that rumble by on the
      NYT  -  777 words
    • 786 20  -  CINEMA As far as superheroes go, two's company but three can to a crowd, especially when there are also 2Vz villains vying for screen time in Batman And Robin By I Susan Tsang BATMAN And Robin brings us a new Batman, a new
      786 words
    • Article, Illustration
      359 21  -  Compiled by M Yasotha umumtw Singapore Symphony Orchestra Schumann's Manfred Overture, Piano Concerto in A minor and Tchaikovsky's Symphony No 2 are on the programme. Gaetano Delogu conducts, with Dennis Lee as guest pianist. July 25 July 26, 8.15pm at Victoria Concert Hall. Tickets: $8, $13, $18, $25
      359 words
    • 686 21  -  CINEMA Yon don't have to be a football fantoget a big kick out of Fever Pitch By\ Susan Tsang VIEWERS who long for a romance that isn't full of Hollywood schmaltz and manipulation will find a gem in Fever Pitch. A sweet little romantic comedy
      686 words
    • EPICURE
      • 694 22  -  Portions are small and prices are high, but if you're willing to pay for quality and variety, Kikuya at Scotts Walk is just the place for you. mubbhb winds up nibbling her way through dinner JAIME EE CHALLENGE of the week: is it
        CHRIS LOH  -  694 words
      • 721 22  -  RESTAURANT Is It a p&nc&ke, pizza. •rjutgMdaU Indian-style farmd? Om thing's for sore, Shahi Mafcarani's ehsesßMiß is a winner By, Jaime Ee LOVERS of focaccia and pizza, there's a new bread in town and youll find it in the most unlikely place: Shahi
        CHRIS LOH  -  721 words
      • 519 22 RESTAURANT Wert Terrace tSari a welcome escape from the confines of Mansion Hall tt/CortaneKerk THINK Alkaff Mansion and Images of a romantic dinner at the charming hilltop restaurant spring to mind. In reality, however, a string of tour buses at the foot of the
        519 words
    • Article, Illustration
      1132 23 To Lom Jilted by their respective lovers, Meg Ryan and Matthew Broderick join forces to take revenge. Tampines: 11. IS; 9.30. Eric Stoltz leads a party dpwn the Amazon to find a lost tribe. Jon Voight leads them to-a monster snake instead. Lido: 1.30; 4. Jurong, Choa Chu Kang:
      1,132 words
    • TRAVEL
      • 1797 24  -  A place of rugged beauty and a people of untold hospitality await fff.inm i.now when she travels to northern Pakistan via the Karakoram ffighway CLAIRBLBOW nsaALLAH (God willing), we will be landing," the pilot announced nonchalantly itoour Pakistan International Airline flight as we approached Islamabad,
        PHOTOS BY CLAIRE LEOW FOR BT  -  1,797 words
  • Page 17 Advertisements
    • 7 17 Raffles Conversation Spfyan Wanandi EL 2 I
      7 words
    • 138 17 Travel Through valley of the giants EL 8 r Submcription/Ronowal To: Mußknadto MvMoii Cheque Please attach a crossed cheque made payable to tlngapnia Preee Singapore Press Holdings Ltd HokMnga Ltd. and mail it to tie address on the left 82 Gerrtlng Lane, Singapore *****7 Tat: 740-1461 Fax: 740-2216 Name: I
      138 words



  • Page 20 Advertisements
    • 155 20 ~~Land Transport Authority Infoline— COE Bidding Results Car Registration Number Availability. Available on 10th or 11th of every month. All you Available between Saturday and Wednesday each week. All yon need is oeed is enter your IC, Passport or Company Registration enter your Car Registration number* number and the Vehicle
      155 words

  • Page 21 Advertisements
    • 716 21 1171 J. 1 Gives you up to 60days Where to wine, dine and entertain... interest &ee credit *****45 Wkal tetter way to celebrate a gtMt week tkan Sunday Brunch at The Cafe-in-The-Rirk? Enjoy the fineel brunch and aervice at only |28* pat adult (only $14* (or the kid*). Than your
      716 words
    • 100 21 VMufjnf 24-hour Coffee ftoaif Ut floor >. I The Chicken Rice Capital '-Of THe World -v_ 1 Hfr wHi Ulfjii> i I 533 Orchard Road. Sia({i^»rt J JSBB67. Hi 737 441 1 J I ■U|alj|W|WS| y! r 2 *"?v ■Hb t Whil* w» upgradu, our ;> Buffet Dinnor wiN bo
      100 words

  • Page 22 Advertisements
    • 53 22 DIIIBIHII Share Recommendations m- Useful tips on what to buy, sell or hold. Share Allocation Results using CDP Numbers. Wondering which share result? Call 740-2350(24-hrs) to check first. |ÜBia|t|-|/i (tlh tmt 594 m mrnutt (i J% fIXI% |R| SSS I!I It AMitioHoi ftr« mimtrte imrrkmrgt fmr carHphont merit. SPJ AtJXI-.
      53 words

  • Page 23 Miscellaneous
    • 1972 23 TODAY'S TV tmm M mmmm» fl 340 Caroline And Her bwwrnnnmnn IfTJ Friends. l inrnMW r 1100 NNTV Innovations. s MO The Paatagumr LjOV6 BHd Chucky the talking doll is iJo 97 cao uLp'santorian. given td a Six-year-old preview. iß|| gjg§ Jackie Her Buahbaby in fPVPTI CTP whose babysitter takes
      1,972 words