The Business Times, 13 December 1997

Total Pages: 24
1 24 The Business Times
  • 21 1 THE BUSINESS TIMES MITA (P) 023/12/96 85c S I N.G A P 0 R E Internet http://www.asial.com.sg/biztimes WEEKEND EDITION, DECEMBER 13-14,1997
    21 words
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  • 1253 1  -  Suharto cancels trips, mpi&h hits historic low of 5,200 despite govt reassurances From S N Vasuki in Jakarta INDONESIAN financial markets went into a state of panic and speculation grew of a debt moratorium after President Suharto cancelled scheduled visits to Solo in
    Source: Dow Jones; REUTERS  -  1,253 words
  • 988 1  -  From* Jennifer Veale in Seoul MOODY'S Investors Service warned yesterday that South Korea could be heading for a debt moratorium if investor confidence isn't restored as Seoul's foreign exchange cri sis showed few signs of slack-, enlng despite pledges
    988 words
  • 439 1  -  PM pledges only to take every possible step'to avert crisis Fromi Anthony Rowley in Tokyo A WIDELY-ANTICIPATED package of measures to bolster Japan's financial institutions and reflate the economy failed to materialise yesterday, sending the Nikkei stock index sliding below the 16,000
    439 words
  • 479 1  -  WI Carr layoff latest casualty, thousands more may lose jobs Byi Clarissa Tan [SINGAPORE] This Christmas, a frost will blanket the trading rooms and back offices af Asia's financial services sector. As the region's worsening prospects force hundreds to be laid off, thousands
    479 words
  • Page 1 Advertisements
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  • FOCUS: PERSONAL FINANCE & INVESTMENT
    • BULL'S EYE
      • 594 2 Tftoee polM for their view* on the Singapore Mocfcmarket outiook for ant week were: Alliance. Daiwa SacuntM, Deutsche-Morvaa GreafcU, fraaer Securities GK Goh. INC Barinc*. Kay Htan. Kim Km. MmmWIOW. Awtmo 4(Bny) Indosuez Wl Carr, Dec 11, $2.37 Compounded annual growth rate (CAGR) earnings of 25 per
        594 words
      • Article, Illustration
        420 2  -  Georgia Perceval Maxwell JF Morgan Investment ii A SUBSTANTIAL ref\ versal in the forxX tunes of Asian economies and equity markets over the past year has seen a dramatic shift in focus amongst investors in this region. Clearly many of Asia's problems are due to corporates' over-gearing
        420 words
    • 894 2  -  According to the self-made millionaire, start by changing your attitude to wealth By] Raju Chellam [SINGAPORE] Wm~ ONEY is 11 /I MM ideas 1 m# make big 1 m# money. I V Ideas 1 V come V from words, and words from thoughts. Your
      SIEW YAW HOONG  -  894 words
    • 393 2  -  Title: Rich Dad, Poor Dodi What the rich teach their ldds about liny that the Author*: Robert T Klyoeakl with Sbaroa L Leohter Publisher: Teofa Press, USA Price: 5523.00 By] Raju Chellam "STUDY hard, get good grades, and find a secure job," could
      393 words
    • 754 2  -  BTB OX THE REGION: BANGKOK By Harish Mehta THIS is a bad time to be in Thai stocks. Investment returns have been negative since March 1994 when the Stock Exchange of Thailand (SET) Index peaked. It has fallen some 1,200 points since then.
      754 words
    • 1006 2 Next pebticaUion dale: Jan 10,1998 ass ass sss ass aaS sss "3 9aMMtmMWm%W9f HiluM worm -4« 7 11a 4 mm s -km 2 -;i? 1 m 1 I7MM AM S -1111 S *71 -*74 7 1448 S 8477 8 i7mm am t am i -SUB -M44
      1,006 words

  • SINGAPORE AT HOME & ABROAD
    • 631 3  -  Govt encouraging cogeneration as way to improve efficiency, Reports by] Ronnie Lim THE $5 billion Petrochemical Corporation of Singapore (PCS) yesterday said it was looking into setting up its own power station to boost its competitiveness, following the government's
      631 words
    • 412 3 SHELL Chemicals plans to double the capacity of its new $1.3 billion Seraya downstream plant which opened just yesterday to make it a more competitive plant. Disclosing this yesterday, Evert Henkes, the chief executive officer-designate of Shell International Chemicals Ltd, said it
      412 words
    • 94 3 IN a move aimed at attracting Asean medical talent to Singapore, the Economic Development Board (EDB) yesterday announced that it is working with the National University of Singapore (NUS) to set up a postgraduate medical scholarship for doctors from such countries. Funded by the $20 million MobilEDB
      94 words
    • 255 3 SINGAPORE Telecom is offering free phone calls for a day to make up for the mobile phone and paging blackout two weeks ago. From midnight tonight, charges for calls made with line-based phones to handphones or pagers will be waived until
      255 words
    • 430 3  -  Businessmen say it'll not be easy to achieve 5% growth next year By 1 Teh Hooi Ling INDUSTRIALISTS expect Singapore's economic growth to slow down next year, but not to a low of 1.8 per cent as projected by stockbroker Vickers Ballas.
      430 words
  • Page 3 Advertisements
    • 556 3 BOSE Newsletter Bose* provides sound for Hong Kong handover to China Thousands of VIPs were on hand at the stunning. Fireworks valued at $17,000,000 on eight barges with celebration of the handover of Hong Kong from lasers, lights, and a harbour parade of floats, all choreographed to Britain to China
      556 words

  • MARKETS IN TURMOIL
    • 293 4  -  By R Sivanithy [SINGAPORE] Singapore and Malaysian stocks continued to be rocked yesterday by the plunges suffered in South Korea and Indonesia, with added pressure here coming from concerns over the future of the electronics sector as well as a slide
      293 words
    • 261 4 Reuters IHT I [WASHINGTON] A slithering s currency and serious doubts 1 -about South Korea's financing t needs threw the spotlight on the International Monetary I Fund on Thursday, raising I concern about its recordt breaking rescue deal. Asian business and political leaders
      Reuters; IHT  -  261 words
    • 442 4 Likelihood of such a sale doubtful because of Treasuries'higher return: analysts Bloomberg [WASHINGTON] US Treasury Secretary Robert Rubin said the US bond market would not be in any danger should the Japanese government sell some of its holdings of
      Bloomberg  -  442 words
    • 479 4  -  Analysts blame the freefall on plunge of rupiah, Korean won From, Al Labita in Manila THE Philippine peso tumbled anew to an all-time low yesterday, sending share prices plunging across the board in a renewed bloodbath in the financial market. Its weighted average shrank
      Source: Bloomberg  -  479 words
    • 368 4 Reuters [WASHINGTON] The United States on Thursday refused to be drawn further into South Korea's worsening monetary crisis, telling the Korean people to accept IMF-imposed hardships. Speaking as global stock markets declined on Asia's woes, US Treasury Secretary Robert Rubin did not offer
      Reuters; REUTERS  -  368 words
    • 386 4 Finance minister's comments come as baht tests new floor AFP [BANGKOK] Thai Finance Minister Tarrin Nimmanahaeminda yesterday said the government was ready to raise short-term interest rates to support the falling baht. His comments came as the Thai unit sank to its
      AFP; FILE PHOTO  -  386 words

  • REGION
    • 385 5 BEIJING Leadership admits rhalkigtw ahoaH in unemployment and financial system Bloomberg Reuters CHINA'S leaders declared that the economy is developing "soundly" despite deflation as they wrapped up an annual three-day economic conference, the official media said. And separately, the State Statistics Bureau said the
      Bloomberg; Reuters  -  385 words
    • 228 5 KUALA LUMPUR Bloomberg MALAYSIA'S Finance Minister Anwar Ibrahim, parting ways with Prime Minister Mahathir Mohamad, said the country should look to itself for the cause of the problems in its financial markets. "We are facing problems, but it's not entirely the fault of
      Bloomberg  -  228 words
    • 42 5 [BEIJING] University students lacing up and stretching for one of the first skates of the season on a small lake on their campus yesterday in Beijing. Ice skating is a favourite winter past-time in the Chinese capital AFP
      AFP  -  42 words
    • 419 5  -  HONGKONG Bat he warns of painfnl adjustments as countries restrnctnre By] Loh Hul Yin ASIAN financial markets can expect another couple of bumpy weeks until the South Korean presidential elections are over, Hongkong's Financial Secretary Donald Tsang said yesterday. "The
      419 words
    • 468 5  -  SINGAPORE It will investigate US, Canadian, S Korean newsprint exporters By\ Lu Ning TAKING a leaf out of the book of its Western trading partners, China on Thursday launched its first ever antidumping probe against US, Canadian and South Korean newsprint exporters, according to an
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  • Page 5 Advertisements
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  • REGION/WORLD
    • 489 6 GENEVA It's still not happy with quality of market access offers: sources Reuters THE United States has major problems over a projected World Trade Organization (WTO) pact to liberalise financial services with only hours to go before a deadline for its completion,
      Reuters  -  489 words
    • 460 6 WASHINGTON Inflation dormant as economy heads for continued expansion Bloomberg PRICES paid to US factories, farmers and other producers unexpectedly dropped 0.2 per cent' in November, confirming inflation remains dormant as the economy heads for continued expansion. It was the year's eighth monthly decline
      Bloomberg  -  460 words
    • 433 6 LONDON Reuters A BLAZE swept through the main terminal at London's Heathrow airport early yesterday, causing extensive damage and bringing chaos to the world's busiest international airport. Fire-fighters managed to control the blaze, which broke out at Terminal One, but smoke
      Reuters; AFP  -  433 words
    • 78 6 SINGAPORE SINGAPORE Airlines flight 5Q322 from Singapore landed at Heathrow airport at 0515 hours (London time) yesterday, the airline said in a statement yesterday. All passengers onboard have disembarked. SIA added that flight SQ32O which left for London earlier yesterday would "not be prevented from
      78 words
    • 207 6 NEW YORK Bloomberg INDONESIAN Finance Minister Mar'ie Muhammad called for greater transparency in his nation's economy and more economic disclosure from the government and private companies. "We should influence the market-driven economy so that its operations become more transparent and less distorting," he told an
      Bloomberg  -  207 words
    • 324 6 SEOUL AFP SOUTH Korea's majority party admitted yesterday to trying to raise massive underground loans, triggering accusations it was seeking to buy votes in the Dec 18 presidential election. A Grand National Party (GNP) spokesman said the party had tried
      AFP  -  324 words
    • 258 6 LUXEMBOURG AFP EUROPEAN Union leaders appeared to have settled a row over the management of the single currency that has badly soured relations between Britain's new Labour government and France. Spanish Finance Minister Rodrigo Rato yesterday said the leaders had agreed on outline rules for
      AFP  -  258 words
    • WORLD Watch
      • 84 6 AFP [LAUSANNE] The Swiss supreme court ordered yesterday that US$5OO million deposited in Swiss bank accounts by the late dictator Ferdinand Marcos should be returned to the Philippines. The order overturned an earlier decision taken in February by the Zurich supreme court which had
        AFP  -  84 words
      • 64 6 Reuters [MOSCOW] The Kremlin yesterday denied a report on a Moscow radio station quoting an unnamed top medical source as saying President Boris Yeltsin had a "severe spasm of the (blood) vessels in the brain" as well as a cold and that his
        Reuters  -  64 words
      • 72 6 Reuters [BRUSSELS] The prospect of a single currency is speeding up a wave of mergers across the European Union which is set to continue for a few more years, European Competition Commissioner Karel Van Miert said. He estimated that about ISO mergers and takeovers
        Reuters  -  72 words
      • 46 6 Reuters [MUNICH] Germany's Ifo economic institute said yesterday that it expected accelerating export demand and moderate firming in the domestic economy to lead to economic growth of 2.2 per cent in 1997 and 2.6 per cent in 1998. Reuters
        Reuters  -  46 words
      • 71 6 AFP [ZURICH] The Swiss central bank stood by the role of gold in the monetary system and as a rampart against economic crisis, it said in a statement issued yesterday. The central bank sought to counter concern in the gold market that it
        AFP  -  71 words
  • Page 6 Miscellaneous
    • 411 6 CRYPTIC CROSSWORD 26 Cheese going round 28 Most upset it had been split 7 Not a leader of fashion in the to uproar (7) 29 Curiously I can t tire although field! (9) 27 A health-giving drink (5) it is very complicated (9) g ups and downs of a profession-
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  • COMPANIES & MARKETS
    • 578 7  -  Triple blow hits company harder than market expected; forecast was 24% fall By R Sivanithy [SINGAPORE] A triple whammy of the regional currency crisis, a slowdown in brewery business and a drop in property income has knocked beverage group Fraser and
      578 words
    • 479 7  -  Bat fall year results to remain status quo at best, says firm By, Jenny Lam [SINGAPORE] Retailer Isetan Singapore has again surprised the market with a better-than-expected interim net profit, which jumped 144 per cent to $2.3 million for the six months ended
      479 words
    • 853 7  -  HOCK LOCK SIEW R Sivanithy THE issue of stock index manipulation has been getting heightened attention in the press recently. In London, a steep 38point fall in the Footsie Index during the final minute of trading about two weeks ago on
      853 words
    • 351 7  -  Directors warn of farther profit fall, project lannch delays By' Teh Hooi Ling [SINGAPORE] Centrepoint Properties Ltd (CPL) yesterday reported a 41 per cent plunge in group net earnings to $74.5 million for the year ended Sept 30. And directors warned that profits will
      351 words
    • 285 7 [SINGAPORE) Singapore Technologies Engineering (STE) enjoyed a good run in its first week despite a depressed market it accounted for about one in every eight shares traded on the stock exchange here during the week. The counter, which takes in former main board
      285 words
    • REGIONAL COMPANIES
      • 385 8  -  Appetite for risks boosted growth bat shortcomings set to weigh on them From Eddie Toh in Kuala Lumpur MANY companies in Malaysia have grown tremendously over the years through risktaking but they are weak in several key areas competitiveness in the international
        385 words
      • 149 8 SIGN OF THE TIMES [SINGAPORE] United Pulp Paper Company Ltd yesterday said a joint venture agreement with Austrian firm Mayr-Mel-nhof Karton AG has been mutually terminated by both parties. The project, established in November last year, involved looking at the feasibility of building a carton-board mill
        149 words
      • 121 8 [SINGAPORE] Sembawang Resources Ltd's one-for-one rights and three-for-10 warrant issues have been undersubscribed. The company said that when the offers closed on Monday, acceptances and excess applications were received for 53.8 per cent of the shares and 53.2 per cent of the warrants
        121 words
      • 236 8 Reuters [KUALA LUMPUR] Malaysian conglomerate Sime Darby Bhd said yesterday it would inject 100 miUion Malaysian ringgit (5543.43 miUion) and lend a further Mslso million to its brokerage arm Sime Securities Sdn Bhd. Sime Darby also said the level
        Reuters  -  236 words
      • 65 8 [HONGKONG] A representative from Tai Cheung Properties, a unit of Tai Cheung Holdings, making a bid at a land auction in Hongkong on Thursday. The company bought the 2,293 sq m Tuen Mun site for HK$2B5 million (5560.7 million) in Hongkong's last land auction for this
        REUTERS  -  65 words
      • 194 8 AFX-Asia [HONGKONG] Hong Kong Securities Clearing Co Ltd said it will reduce its stock settlement fee to 0.0025 per cent per trade from 0.004 per cent from Jan 1. Hong Kong Clearing said in a statement that the revised fee applies to
        AFX-Asia  -  194 words
      • 440 8 The telecom network systems firm's sales are in US dollars Bloomberg [SINGAPORE] For Datacraft Asia Ltd. Asia's currency crisis means it's time to go shopping for acquisitions. That's because the Singa-pore-based company, which sets up and maintains telecommunications network systems, generates sales in US dollars
        Bloomberg  -  440 words
      • COMPANY Briefs
        • 96 8 [SINGAPORE] Creative Technology yesterday said it would sell its Video Blaster Broadband Internet Toolkit to users of Singapore ONE, the national broadband multimedia network, for a special price of $99. The usual price of the product, which includes a video capture board, colour analogue
          96 words
        • 85 8 [SINGAPORE] Lift and escalator maker Chevalier Singapore Holdings said yesterday that its net profit tumbled 27 per cent to $1.52 million for the six months ended Sept 30. Operating turnover was $35.5 miUion. The group incurred a foreign exchange loss of $300,000 from the restatement of
          85 words
        • 50 8 [SINGAPORE] Keppel Monte Bank, a member of Singapore's Keppel Group, yesterday opened its 34th branch in Legaspi ViUage, in the PhUippines' Makati City business hub. The bank said its plan to upgrade into a commercial bank in the middle of next year is on track.
          50 words
        • 125 8 Bernama [KUALA LUMPUR] Arab-Malaysian Corporation Bhd yesterday posted a 29.5 per cent fall in pre-tax profit to 157.33 million Malaysian ringgit (5567.3 million) for the half-year ended Sept 30, from RM223.3 million In the previous corresponding period. Amcorp attributed the drop mainly to rising interest
          Bernama  -  125 words
      • 297 8  -  By Annette Pan [SINGAPORE] IPC Corp has sold its half-stake in an unprofitable associate to Nasdaqlisted Sea Change International in .return for a 2.41 per cent in Sea Change. The US company, which supplies digital video systems, will issue
        297 words
      • 183 8 [SINGAPORE] Freight Links Express Holdings yesterday posted an 80 per cent increase in interim net earnings to $4 million. Turnover for the six months ended October rose 37.7 per cent to $121.4 million. The Sesdaq-listed logistics company's earnings per share grew to 1.07
        183 words
    • COMPANIES
      • 512 9 Software giant told to stop requiring computer makers to install its browser LAT-WP [WASHINGTON] Throwing a rare obstacle in the way of Microsoft Corp's march to computer software dominance, a US federal judge on Thursday ordered the company to stop requiring computer makers
        LAT-WP; Source: Bloomberg  -  512 words
      • 358 9 Big Inkers step shewing market FT [TOKYO] Two of Tokyo's cosy financial traditions have crumbled under the approach of Japan's Big Bang deregulation, which will introduce greater competition. Nomura, Daiwa and Nikko Securities, the three biggest brokers, will no longer provide information showing their
        FT  -  358 words
      • 307 9 Reuters [LONDON] The London Stock Exchange (LSE) on Thursday unveiled a package of measures designed to prevent wild share price swings in the thin market expected on New Year's Eve. Erratic share prices can be particularly damaging on the last day
        Reuters  -  307 words
      • 345 9 Management sticks to 1997 forecast of a 50% increase in sales Reuters [FRANKFURT] German software group SAP AG, brushing off fears over Asian turmoil that have hit shares in rival Oracle Corp, said on Thursday it would add 4,000 to 5,000
        Reuters  -  345 words
    • FINANCE & COMMODITIES
      • 477 10 London, Zurich units of Long-Term Credit Bank shut down in line with SBC tie-up Reuters [TOKYO] The Long-Term Credit Bank of Japan (LTCB) said yesterday that it would shut down two securities arms in Europe as part of an overhaul of its
        Reuters  -  477 words
      • 176 10 Bloomberg [SINGAPORE] The Development Bank of Singapore's threemonth interbank offer rate rose to a six-week high of 7 per cent amid speculation the Singapore dollar will weaken against the US dollar. DBS' interbank, or Sibor, rate, which is used as a
        Bloomberg  -  176 words
      • 473 10 USB/m*rk: Activities were subdued for the first three days of this week, with the unit range-bound between 1.7811 and 1.7955. Subsequently, the unit plunged to a low of 1.7591 on Thursday before recovering marginally to trade around the 1.7640 level yesterday morning. Three
        Source: DBS Bank  -  473 words
      • 486 10 Bloomberg [WASHINGTON] US banks earned a record US$l4.B billion (5124.1 billion) in the third quarter and are on track to break the U5552.4 biUion annual earnings record set last year, Federal Deposit Insurance Corp said. Bank earnings rose 12.3 per cent in
        Bloomberg  -  486 words
      • 112 10 Reuters [LONDON] Citibank said on Thursday that it has agreed to acquire the Global Trust and Agency Services business of J P Morgan. The acquisition is expected to close in the second quarter of 1998 and is subject to regulatory approval. The terms
        Reuters  -  112 words
      • 228 10 wimriii Report Reuters [SINGAPORE] Simex Euroyen futures looked well supported yesterday amid growing doubts about the viability of a proposal to issue 10 trillion yen (Ssl27 billion) in new bonds to support Japan's sagging financial system. "Where the hell are they going to raise 10 trillion
        Reuters  -  228 words
      • 147 10  -  MSCI TAIWAN FUTURES By Ric Trotta Floor Manager, Refco Singapore Pte Ltd [SINGAPORE] The Simex MSCI Taiwan Stock Index futures contract rose slightly yesterday. The December contract gained 3.6 points to 339.9. The cash index finished at 8,398.3, for a gain of 127.7.
        147 words
      • 236 10 ENERGY REPORT Reuters [SINGAPORE] Thailand's move to cut minimum oil stock requirements is adding pressure to the already beleaguered Asian market, industry sources said yesterday. OU prices are faUing worldwide and traders said the destocking by the Thai oU sector will add
        Reuters  -  236 words
      • 271 10 Reuters London The US dollar was little changed in afternoon trade by comparison with its morning levels as operators took a "wait and see" attitude ahead of the Japanese government's economic stimulation plan due out next week. At 1245 GMT, the dollar was trading at 1.7659 marks compared
        Reuters  -  271 words
      • Article, Illustration
        1215 10 DTTBBBAMg CROSS BATES Dec 12 ~T. V r ~L ,1' I "J.., A ■~j|. c$ imb EC?' wr Dm *S MhIK fife P« ft P»*> S$ Ear* Sfr WIS Saftt Pound US# if Antral* 0.947 6.178 0.J92 1«5 i 171 1*40 26.351 33.627 OM 1L358 23M UO 29.260 2 477*
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    • 1780 11 SICOM FUTURES Dec 12 RUMIR (Marts dosiaq «it SJOpn) &SS 1COUTI ACT (S c**tsAg) C«OM V«kMM Opon Month High Low Sott (toiwos) Intorost Jon 96 119.50 119.50 118.00 50 370 Fob 98 119.25 750 Iter 96 120.25 200 945 Apr/Jon 98 128.00 126.00 128.25 1050 ***** Jwl/Sop 98
      1,780 words
    • 2204 11 LONDON I^Hlllllll Beta mo 31 Croup 505 MO AB Ports 301 -1 Abbey National 1026 -13 AMedDomecq 525.400 2.400 Amec 125 -4.400 Asda Group 173 unch BAT tad 544 5 BC PIC 285 3 BICC 163 2 BOC Group 975 25 BR Petroleum 813 -7.400 BTR 180
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    • 1597 11 AFP □ffihka22s -I4SJ6 STOCKS closed lower yesterday, with the Nikkei Average closing below the 16,000 points on the South Korean won's slide and pessimism over a planned economic package. The 225-issue Nikkei Average fell 145.85 points to 15,904.30. The broader Topix Index shed 16.90 points to 1,196.84. Trading was
      AFP  -  1,597 words
    • Article, Illustration
      1557 12 Bloomberg Q Hang Seng ♦1*4.44 STOCKS rose yesterday, snapping a three-day rout, as the ongoing regional financial turmoil prompted investors to seek out companies with steady earnings prospects. Banks and utilities paced the gains, contributing to almost half of the index's gain. "It's a rim for shelter," said an
      Bloomberg  -  1,557 words
    • Article, Illustration
      686 12 Reuters Shenzhen Blndex -LB9 SHENZHEN'S B share market closed lower in dull trade yesterday, with sentiment still overshadowed by Thursday's sharp fall in the Hongkong market, analysts said. The B Index lost 1.89 points to 100.62 on turnover of HK111.5 million. An analyst said falls in Shenzhen's B market
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  686 words
    • 355 12 AFP □wPlnda +127.69 SHARE prices finished 1.5 per cent higher yesterday, led by plastics and chemicals, in volatile trade as investors stepped in at the lows to pick up bargain stocks. "Bargain hunters swarmed to place buy orders soon after the index slumped 135 points at opening, helping the
      AFP  -  355 words
    • 250 12 Bloomberg □Wellington -3605 SHARES fell yesterday amid renewed concerns that Asia's financial woes will hurt company earnings. The benchmark NZSE Top 40-share Index fell 35.15 points to close at 2,330.92. Within the index, decliners outnumbered advancers 35 to four. Bloomberg we w mm AN2 Banking 11.00 "0-60 >050 Advantages
      Bloomberg  -  250 words
    • Article, Illustration
      838 12 AFP P SET Index -3J2 STOCKS ended 0.8 per cent down at the close of a turbulent week yesterday which saw the bourse take a beating on the back of regional currency turmoil sparked by South Korea's financial woes. The bourse recovered from its initial fall of 1.8 per
      AFP  -  838 words
    • 423 12 AFP P Composite Index -2iM SHARE prices plunged 7.1 per cent to a 10-year low yesterday, dragged down by relentless pressure on the won and ceaseless financial market turmoil, dealers said. The Composite Index lost 26.69 points at 350.68, the lowest since April 29, 1987. Turnover was 43.4 million
      AFP  -  423 words
    • 597 12 AFP PAD Ordinaries -218 STOCKS slipped yesterday as resource stocks fell and weaker world markets weighed on investor sentiment. "Commodity prices around the world are still looking very weak and people are selling resources stocks continually they just can't find any level of support at this stage," a broker
      AFP  -  597 words
    • Article, Illustration
      682 12 AFP P Composite Index jjjj SHARE prices plunged 7.6 per cent yesterday amid concerns over President Suharto's health after an announcement that he had cancelled plans to attend a regional summit in Malaysia. "The market is still very volatile with concerns over President Suharto's health," said the dealer. The
      AFP  -  682 words
    • 285 12 AFP Q Manila -20.89 SHARE prices fell yesterday, taking the cue from Wall Street, neighbouring Asian markets and the skidding peso, which hit a new low. "The reaction of the other Asian markets was negative so we followed," said a trader. The PSE Composite Index shed 20.89 points to
      AFP  -  285 words
    • KUALA LUMPUR STOCK MARKET
      • 537 13 AFXAsia Q Composite Index -1426 SHARE prices closed sharply lower yesterday on mounting regional concerns stretching from South Korea to Indonesia while the domestic situation itself is far from satisfactory, analysts and dealers said. The KLSE Composite Index closed down 14.26 points at 574.92 on
        AFXAsia  -  537 words
      • 8861 13 INDUSTRIALS Cmsmmt pntett IW Latt Vol Day Net Cep I— Company HH OOP High Low P/t $mil 790 220 Atmonwto 250 M JWJ 44fl 130 Anqkasa 139 -26 64 146 139 3J 205.0 905 245 Apollo Food Mq 255 -25 4 260 255 7.4 102.0 765 24« Berjeyeland 276 -14
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    • WARRANTS & OPTIONS
      • 225 14  -  WARRANT WATCH By R Sivanithy FRASER NEAVE's shares took a walloping this week, and so* did its warrants. This sad state of affairs came about because there were rumours that the beverage and property group was about to report poor earnings. Unfortunately, there
        225 words
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    • 2138 14 Or Or 1997 Last V«4 Day Laat Oust* «v Wv YW Nat M Cap HIgft laar Itno Company Sala COOP) W*» 1— Buyar »—r CV M »W 478 68 «rw> *i«»«rv nrA 3 >92 723 693 703 72 53 U U 211 7U 137 27.5 msSOOl AMOeSOc 28
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    • STOCK EXCHANGE OF SINGAPORE
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      • 4393 15 Or Or M Ml 19*7 LOOt VM BP* Lap* 0»a6a OJ» Mr 7M Ma« Cap A»p Mid L— 9MM Caaapan? Mi fMW W» tPM MwinttS > t > .< 1ST 33 <020 ACtP»namlcltOt 40 SV66 ASCNTSK 200 US- MS MS 1275 ASF USc WO USMS f ai M
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      • 890 15 •r *r M m mr UM W taf MM Mr M» m MM te A«f M» L— mm* c— W r— w» t— —y Mm Cm pn MMM* M n 2000 IMIMmSc CM A IT OS tX HI 04 U U U M4 Ml OS 440 M4 MM UMbL
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      • Article, Illustration
        70 16  -  by Shiv Taneja MAGNUM CORP ckned one cent higher at SSL OB on a volume of just over two million spares yesterday, compared with its lOday traded average of jft million units. In mt days head, the share price um experience weakness despite the fact that aaify and
        70 words
      • 205 16 Stidu STEngglOc 17,978.000 SingTel 15c 10,596,000 •ugf Caoital 8,478,000 U08 Foreign 5.262.000 MS Land.. 5.001.000 S1A Foreign 4.7W.OOO NatSteel 50c 4,534,000 Asia FoodSProp 4,080,000 HK Land USIOc 4,006,000 'Rckapaciflc Bk 3,7% OC jtidu U06 Foreign 53,066,023 SIA Foreign 51,902.664 DOS Foreign 46,396,359 0C8C Foreign 31,228,808 SingTel 15c 30,950,819 STEngglOc 21.596.883
        205 words
      • 659 16  -  STOCK MARKET COMMBMTAKY Concerns over electronics sector, uncertainty about corporate earnings aid fears that Asia's collapse could have global consequences hit sentiment By R Sivanithy [SINGAPORE] There were really few surprises in store for stock market players after Wall Street's wobble on
        659 words
      • ON THE GRAPEVINE
        • 89 16 THE regional crisis has not only made it harder to do business, but also more costly to play. The Singapore Island Country Club has just announced that monthly fees for ordinary members will go up from $100 to $110 starting next January. Social membership fee (no
          89 words
        • 103 16 THE completion of new, mega condominiums like Valley Park and TTie Anchorage has flooded the already soft rental market in the prime districts with new apartments. As a result, rental units in older condominiums are having a hard time finding takers. In one Holland Road condo
          103 words
        • 88 16 NEWS at Swiss Banking Corp's merger with Union Bank of Switzerland has led some wit to remark that given SBC's bearish predictions for the Singapore economy—its Hongkong office was the first house to slash Singapore's 1906 GDP forecast to 2 per cent in October—and ÜBS' more bullish stance
          88 words
        • 70 16 MORE on the merger of SBC and ÜBS Not long ago when ÜBS introduced Its new logo, it ran a media campaign—both In print and on television —which ended with the tag line, ÜBS: Here Today, Here Tomorrow.' r2s- A -f *4 Well, at a cocktail
          70 words
        • 131 16 IN a survey of shareholder returns published in yesterday's Asian Wall Street Journal, DBS Bank finds itself In the rather unflattering position of being the only local bank in a list of the bottom five Singapore companies measured by shareholder returns over a five-year period ended
          131 words
        • 89 16 IN case there was any doubt in anyone's mind, it is now official: Singapore is the No 1 place in Asia to do business, according to a new study by The Economist Intelligence Unit The study measures business operating costs including the price of utilities, tax rates and labour.
          89 words
        • 81 16 THE regional crisis is getting so bad that for some it is a chore to wike up in the morning. "I hate morning now," said a (former) big investor in the stock market "You dont know what it will bring." But there's consolation. He
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  • Page 7 Advertisements
    • 116 7 KOREAN AIR FLIES EVERY NIGHT, NON-STOP TO SEOULKorean Air flies nightly, non-stop from Singapore to these flights, three nights a week you can to Seoul. Which means after a hard day's work in fly to Seoul via Bangkok, and one night a week Singapore, you can get a great night's
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  • Page 8 Advertisements
    • 75 8 Our heartiest congratulations to 19 9 7 Celebrating Singapore's GGET HOLDINGS PTE LTD for being ranked amongst the Top 10 of the 1997 Enterprise 50 Award I.S.U.PRODUCTS CONSTRUCTION PTE LTD Blk 410 Ang Mo Kio Ave 10 #01-849 Singapore *****0 Tel: *****88 Fax: *****74 THING HOK BUILDING CONTRACTOR Blk 81
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    • 5 8 TODAY vtianhe Zaobao m m.
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  • Page 9 Advertisements
    • 142 9 f St -V ft® Help Santa lose a "W take a someone you Motorola StarTAC" 90 cellular the ever More cellular phone Nov Dec VHi^^F Af receive a free extra capacity Lithium .iMMtflly, HHH| lon battery*. The Motorola StarTAC' cellular phone. So small, UtK MOTOMU OMMI •cemomrworniMt -j It's always
      142 words



  • Page 12 Advertisements
    • 30 12 ?T 11' I'm so happy (Th Y Strato J fx^^tsTi^O^fied^ f ru be right Buying or selling through #y«b The Straits Times Classified is child's Play. at 1800-737-1166.! ,^P :<i
      30 words


  • Page 14 Advertisements
    • 49 14 w watchem HE p^ms^ S wL BIS "Kelly" watch DItI^P^H $oto Agent V *J| 391 A Orchard Road Ngee Ann City #17-06 Singapore *****3 1 MJ'w^Wr Available at: DICKSON WATCH JEWELLERY: The Promenade, Centrepoint, Suntec City. HERMES BOUTIQUE: Liat Tower, Daimaru, Takashimaya. Also available at all leading authorised dealers.
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  • Page 15 Advertisements
    • 118 15 Ml Singapore r I Telecom jg Get Bloomberg home. w/ I With Sing Tel Magix you can have all the financial and world news you need (plus weather, sports and horoscopes) on-line, on-demand, on your home PC For an WISSWW S average of only 5* per minute. That's why Sing
      118 words

  • Page 16 Advertisements
    • 123 16 You real!/ should experience the new Saab 9-5 sedan With its turbo-inspired Ecopo-ver engine, a world first for a saloon car, it literally powers along with zero turbo lag. thanks to SAAB s Ti ionic engine system With such hot potency at your feet, it's just as well that the
      123 words

  • EXECUTIVE Lifestyle
    • 1527 17  -  It takes more than the right intentions to raise money for charily. Considerable business expertise is needed to spearhead a successful campaign, m mumkob looks at how some companies here are helping to provide aid where it is most needed BEN MUNROE CHRISTMAS is traditionally a
      1,527 words
    • STRAWS In The Wind
      • 115 17 THE CITY of angels is anything but. Los Angeles, the capital of self-Indul-gence, came out 48th out of 50 In a survey of charitable cities in the US, according to a recent wire report. So a remedial blitz goes like this: "I know you're into that touchy-feely
        115 words
      • 68 17 ONE exercise fanatic was pleased when a new gym opened a stone's throw from her flat. But when she went to sign up for it, there was this bit in fine print: Should the gym close down, it would find a replacement for members within
        68 words
      • 67 17 .SOME people need no persuasion to take early retirement, especially if they have millions stashed away in the bank account, like George Foreman. But the 49-year-old heavyweight boxer needs to be punched silly before he bows out Says he: "Someone's really got to give me a
        67 words
    • VIEW POINT
      • 1081 18  -  Anita Roddick, controversial founder of The Body Shop, is used to rattling corporate bigwigs with the causes she adopts. She was brought up, she tells jaime ee, by a mother who taught her to challenge everything and who sent her to church smelling of garlic
        FILE PHOTO  -  1,081 words
      • 828 18  -  BOOKS V Great Myths Ofßtataaii By William Davis Kogan Page Lid an pigm atam Reviewed, by] Kevin Sulivan MANAGEMENT gurus are regularly wrong; business consultants are over-rated; schoolboys offer better stock tips than securities analysts; GNP figures are inadequate barometers of a nation's economy;
        828 words
      • 857 18  -  MEDICINE If organs can be transplanted, why not cells? By\ Daniel Green FT ORGAN transplants are both wonderful and horrible medicine. Thirty years ago, they were radical. Today, they are commonplace, saving thousands of lives every year. The trouble is that between 30
        FT  -  857 words
    • PURSUITS
      • 1032 19  -  Want to put the merry into your Christmas without lifting a finger? Check your bank account pick up the phone, and let jaxmh bb show you how JAIME EE THERE are 12 days left to Christmas. Doyou know where your greeting cards are? If you
        1,032 words
      • 498 19  -  GALLERY Adrienne Martin hopes to provide them with a suitable outlet for their creativity By Tan Su Yen LOOKING for an original Christmas gift? A recently opened home gallery may have just the thing for the giftweary. A Woman's Touch, a black-and-white colonial bungalow off Buona
        PHOTOS BY SIEW YAW HOONG  -  498 words
    • 658 20  -  CINEMA That, more or less, is the nature of things in Flnbber By I Susan Tsang FLUBBER is Walt Disney's remake of its 1961 hit The Absent-Minded Professor. However, with a screenplay by John Hughes, who scripted the Home Alone movies, you can forget about the warmth
      658 words
    • 736 20  -  CINEMA Subtlety is not a strong point in Devil's Advocate, bnt it's still a heck of a lot of fan watching a diabolical A 1 Pacino work his wiles on a witless Keann Reeves By\ Susan Tsang THERE are lots of jokes about lawyers
      736 words
    • 703 21  -  NIGHTSPOT By Ben Munroe FIRST he brought us Le Aussie, a Clarke Quay wine bar crammed with Australian varietals. Next he hit Boat Quay, opening Le Wine Cellar Singapore Town Club, specialising in South African and Chilean wine. Now Chen Yin Swee, the man behind Allied Wines
      703 words
    • Article, Illustration
      347 21  -  Compiled by M Yasotha DAMCB Tango Passion A performance with intricate and sensual dancing, set in the dance clubs of Buenos Aires. Choreographed by Hector Zaraspe. Dec 19-21, Bpm at Harbour Pavilion, World Trade Centre. Tickets: $75, $50, $35, $25 $15 available at all Sistic outlets. Hotline: 348-5555.
      347 words
    • EPICURE
      • 769 22  -  WINE CONNOISSEUR By N K Yoag FREDERIC Engerer, co-man-ager of Chateau Latour, presided recently at a tasting of 13 vintages of the Grand Vin and three vintages of the second wine, Les Forts de Latour, held in Shangri-La Hotel Serena Sutcliffe, senior director of Sotheby's Wine
        769 words
      • 856 22  -  What do two people do when they're just crazy about Italian food? For May Koh and her husband Koh Guan Poh, the answer was simple they decided to open their own trattoria ran so ran reports TAN SU YEN F YOU take away the cheese, ■B
        SIEW YAW HOONG  -  856 words
      • 755 22  -  RESTAURANT This restaurant above Central Mall's dneplez certainly makes an impression with its attentive and efficient service By< Corinne Kerk IF THERE'S any development suffering from bad times, it's Central Mall. Like an unpopular kid with zits, the building in Magazine Road is an isolated island,
        PHOTOS BY SIEW YAW HOONG  -  755 words
      • 257 22  -  WHAT'S NEW W Tan Su Yen TOO bad if things are not so hot in the rest of the economy. Singapore's newly acquired cafe culture is positively thriving. From teeny boppers to taitais, it's chic to know your macchiatos from your frappuccinos. To be
        257 words
    • Article, Illustration
      818 23 Alton l»ni i uutl—. Defying death thanks to DNA magic, Ripley (Sigourney Weaver) is back and more determined than ever to destroy the biggest, baddest alien ever. This fourth, and rather predictable, Aliens instalment also stars Winona Ryder. Lido, Republic, Hougang, Changi, Jurong, Choa Chu Rang, Century, Too Payoh,
      818 words
    • 116 23 v* Cathay 338-3400 Eastsbore 346-1816 Orchard 235-8388 Picturehouae 338-3400 Yaagtxe 223-7620 Empreas 777-6967 Jubilee 464-1640 Mandarin 202-0401 Marina 338-0710 Whiteeands 686-1782 BedokM-**? Bishan 363-8886 Boon Lay 792-2788 Broadway 464-9394 Majestic 633-0032 Marina 3J7-W88 Pavilion 780-6788 Taajpines 8 786-6788 Tk»f Bahru 274-6688 YWMB 267-7846 SwrntTcwSth' 777-0069 OoMWNewTown 208-6406
      116 words
    • TRAVEL
      • 1278 24  -  Geographically isolated and unblemished by office blocks or garish hotels, the Laotian town of Luang Prabang is easily one of the most beautiful cities in the region, says mask graham MARK GRAHAM POR MOST people in the north of Laos, the town of Luang Prabang is
        PHOTOS BY MARK GRAHAM FOR BT  -  1,278 words
  • Page 17 Advertisements



  • Page 20 Advertisements
    • 231 20 BUSINESS Notices To advertise call toll-free 1800-*****83 WING TAI HOLDINGS LIMITED (Incorporated in the Republic of Singapore) NOTICE OF CLOSURE OF BOOKS Redeemable Convertible Cumulative Preference Shares First Cumulative Preferential Dividend of 1.5% p.a. payable on 15 January 1998 NOTICE IS HEREBY GIVEN to the holders ot the 150.000 1.5*
      231 words
    • 190 20 IN THE HtQH COURT Of THE REPUBLIC OF SINGAPORE COMPANIES WINDING UP NO 21 Of 1997 IN THE MATTER Of THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF SCHULZ (S.EA) PTE LTD (IN LIQUIDATION) NOTICE IS HEREBY GIVEN that the creditors of the abo venamed Company, which waa
      190 words
    • 118 20 Get yourself better organised by reading Q Which section of The Business Times benefits you most? I 'fl|| BN-20 Business Navigator Series let you see plenty of data at It* Jm 'Jhl U a glance, just as you can with printed data. A j tHLi V The Business Navigator comes
      118 words

  • Page 21 Advertisements
    • 822 21 1171 A J* 1 A _A Pramud Diners Club Offers *****,000 FREE Totfply.calt Where to wine, dine and entertain... tr huemaiionaT j rave i insurance, mm 250 4545 SUPPER TIME AT H7A M Victoria! I r\ our sumptuous TAIWANESE I PORRIDGE j IO.OOpm daily Inllillinu carte menu «»1 varied I'.iiw
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    • 151 21 Spices of Sichuan jj] t From 3 14 December 1997. savour cutslnc from this province specially prepared by two specialty chefs from Lai Ul Sheraton. Taipei. p loin us as we bring you the best in >u Sichuan Cuisine served In the exquisite setting of Pine Court Chinese ResUurant reminiscent
      151 words

  • Page 22 Advertisements
    • 49 22 7 o a. OEEEflES 'IkmMJbMm '■tB I m VHeHk; ftfc k jj *Pi? I M &iiiftK|rf3jyfi| I H I* ,> I ";-«t M *n#*f* 2 f B KiiilS® f BA<{ Kfeii;-?'"- S JT ■BBA L i A 1 V •'•m A /flK I JX#» u r Pi L Am BBBBWBi
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  • Page 23 Miscellaneous
    • 2205 23 TODAY'S TV LOO PM Muppet Babies RECOMMENDED VIEWING 230 Tom Thunder. 9-00 AM TVSN ~j&- &oo Caroline Her SDO.C6 cocky but talented pitcher I<uw tvsn JeweUery Box. 330 Mutanf League I AIL r (Tim Robb ins). Distraction uoo tvsn Christmas Gift <x>o v» ahp cnipst comes in the shape Of
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