The Business Times, 13 December 1997
1997-12-13
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The Business Times
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Title Section21 1997-12-13 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 13-14,199721 words
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Article15 1997-12-13 1 Q H3U6 (41.30) n BT-SXI MmH (-11.84) PI STOMP mm MauK-21%) D MUf?+o.f7)15 words
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Article12 1997-12-13 1 JuM SSBrTt i.;,, »,,38 .Imj "rv*t tliirn—t flu (Source: NatWest Bank)12 words
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Article, Illustration1253 1997-12-13 1 S N Vasuki - 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 inSource: Dow Jones; REUTERS - 1,253 words
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988 1997-12-13 1 Jennifer Veale - 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 pledges988 words
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439 1997-12-13 1 Anthony Rowley - 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 16,000439 words
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479 1997-12-13 1 Clarissa Tan - 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, thousands479 words
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Page 1 Advertisements
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Advertisement45 1997-12-13 1 wamE FWi faD-jaar fnfit 150 m! I*7 ittorfMpnto 111 OnM Bil t WCWVWOIBU IHBI'JIMIiM WSZZSZZL harder; being paid your cur snare m taxes, WmM IiMWTIMITgi PERSONAL FINANCE 2 SINGAPORE 3 MKTS IN TURMOIL 4 REGION 5,6 WORLD 6 COMPANIES 7-0 FINANCE 10 COMMODITIES 11 STOCKS /".(>;{%'!`=&_`\](;>*%<!_~<_,;'45 words
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Advertisement17 1997-12-13 1 j tB> v^ Jiff^ yt^j^iffllryjr- hBUI BBi Br *<!$ W J^™*KMSit *spry" /jpHBBkjJiK ia > .w p' Singapore Watche^jfwril^-PeHiaii^Acceworice17 words
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FOCUS: PERSONAL FINANCE & INVESTMENT
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BULL'S EYE
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Article, Illustration594 1997-12-13 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 per594 words
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Article, Illustration420 1997-12-13 2 Georgia Perceval Maxwell - 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-gearing420 words
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Article, Illustration894 1997-12-13 2 Raju Chellam - 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. YourSIEW YAW HOONG - 894 words
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Article393 1997-12-13 2 Raju Chellam - 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," could393 words
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754 1997-12-13 2 Harish Mehta - 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
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Article1006 1997-12-13 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 -M441,006 words
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SINGAPORE AT HOME & ABROAD
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Article, Illustration631 1997-12-13 3 Ronnie Lim - 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's631 words
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412 1997-12-13 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 it412 words
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Article94 1997-12-13 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 MobilEDB94 words
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255 1997-12-13 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 until255 words
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430 1997-12-13 3 Teh Hooi Ling - 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
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Page 3 Advertisements
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Advertisement556 1997-12-13 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 China556 words
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MARKETS IN TURMOIL
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293 1997-12-13 4 R Sivanithy - 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 slide293 words
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261 1997-12-13 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 leadersReuters; IHT - 261 words
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442 1997-12-13 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 ofBloomberg - 442 words
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Article, Illustration479 1997-12-13 4 Al Labita - 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 shrankSource: Bloomberg - 479 words
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Article, Illustration368 1997-12-13 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 offerReuters; REUTERS - 368 words
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Article, Illustration386 1997-12-13 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 itsAFP; FILE PHOTO - 386 words
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REGION
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385 1997-12-13 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 theBloomberg; Reuters - 385 words
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228 1997-12-13 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 ofBloomberg - 228 words
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Article, Illustration42 1997-12-13 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 AFPAFP - 42 words
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419 1997-12-13 5 Loh Hul Yin - 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. "The419 words
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468 1997-12-13 5 Lu Ning - 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 an468 words
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Page 5 Advertisements
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Advertisement84 1997-12-13 5 l>/ f/u vefituw/ B B .^«^s>ißß CB Hft H iPS^B^^^^H ■l HB B B H ~*s L^^g^* Hbl M H VI H HH HPy i^^H One of the only 12 Authorised Tour Operator worldwide J the only one in Asia Pacific excluding Japan '"'S FRAAICE9B MHb^^^^Bß^B i 257 Selegie Complex84 words
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REGION/WORLD
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489 1997-12-13 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
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Article460 1997-12-13 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 declineBloomberg - 460 words
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Article, Illustration433 1997-12-13 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 smokeReuters; AFP - 433 words
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Article78 1997-12-13 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 from78 words
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207 1997-12-13 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 anBloomberg - 207 words
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324 1997-12-13 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 triedAFP - 324 words
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258 1997-12-13 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 forAFP - 258 words
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WORLD Watch
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Article84 1997-12-13 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 hadAFP - 84 words
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64 1997-12-13 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 hisReuters - 64 words
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Article72 1997-12-13 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 takeoversReuters - 72 words
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46 1997-12-13 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. ReutersReuters - 46 words
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71 1997-12-13 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 itAFP - 71 words
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Page 6 Miscellaneous
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Miscellaneous411 1997-12-13 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-411 words
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COMPANIES & MARKETS
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Article, Illustration578 1997-12-13 7 R Sivanithy - 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 and578 words
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479 1997-12-13 7 Jenny Lam - 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 ended479 words
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853 1997-12-13 7 R Sivanithy - 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 on853 words
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351 1997-12-13 7 Teh Hooi Ling - 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 will351 words
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285 1997-12-13 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 board285 words
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REGIONAL COMPANIES
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385 1997-12-13 8 Eddie Toh - 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 international385 words
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Article149 1997-12-13 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 mill149 words
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121 1997-12-13 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 warrants121 words
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236 1997-12-13 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 levelReuters - 236 words
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Article, Illustration65 1997-12-13 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 thisREUTERS - 65 words
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194 1997-12-13 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 toAFX-Asia - 194 words
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440 1997-12-13 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 dollarsBloomberg - 440 words
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COMPANY Briefs
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96 1997-12-13 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 analogue96 words
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Article85 1997-12-13 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 of85 words
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50 1997-12-13 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
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125 1997-12-13 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 interestBernama - 125 words
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297 1997-12-13 8 Annette Pan - 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 issue297 words
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183 1997-12-13 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 1.07183 words
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COMPANIES
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Article, Illustration512 1997-12-13 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 makersLAT-WP; Source: Bloomberg - 512 words
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358 1997-12-13 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 theirFT - 358 words
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307 1997-12-13 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 dayReuters - 307 words
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345 1997-12-13 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 5,000Reuters - 345 words
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FINANCE & COMMODITIES
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477 1997-12-13 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 itsReuters - 477 words
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176 1997-12-13 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 aBloomberg - 176 words
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Article, Illustration473 1997-12-13 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. ThreeSource: DBS Bank - 473 words
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486 1997-12-13 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 inBloomberg - 486 words
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112 1997-12-13 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 termsReuters - 112 words
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Article228 1997-12-13 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 trillionReuters - 228 words
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147 1997-12-13 10 Ric Trotta - 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
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236 1997-12-13 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 addReuters - 236 words
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Article271 1997-12-13 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 comparedReuters - 271 words
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Article, Illustration1215 1997-12-13 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*1,215 words
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Article1780 1997-12-13 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 981,780 words
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Article2204 1997-12-13 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 1802,204 words
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Article1597 1997-12-13 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 wasAFP - 1,597 words
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Article, Illustration1557 1997-12-13 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 anBloomberg - 1,557 words
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Article, Illustration686 1997-12-13 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 marketReuters; Source: Credit Lyonnsis Securities(Asia) Ltd - 686 words
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Article355 1997-12-13 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 theAFP - 355 words
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Article250 1997-12-13 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 AdvantagesBloomberg - 250 words
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Article, Illustration838 1997-12-13 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 perAFP - 838 words
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Article423 1997-12-13 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 millionAFP - 423 words
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Article597 1997-12-13 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 brokerAFP - 597 words
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Article, Illustration682 1997-12-13 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. TheAFP - 682 words
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Article285 1997-12-13 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 toAFP - 285 words
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KUALA LUMPUR STOCK MARKET
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Article, Illustration537 1997-12-13 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 onAFXAsia - 537 words
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Article8861 1997-12-13 13 INDUSTRIALS Cmsmmt pntett IW Latt Vol Day Net Cep I— Company HH OOP High Low P/t $mil 790 220 Atmonwto 250 M JWJ 44fl 130 Anqkasa 139 -26 64 146 139 3J 205.0 905 245 Apollo Food Mq 255 -25 4 260 255 7.4 102.0 765 24« Berjeyeland 276 -148,861 words
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WARRANTS & OPTIONS
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Article225 1997-12-13 14 R Sivanithy - WARRANT WATCH By R Sivanithy FRASER NEAVE's shares took a walloping this week, and so* did its warrants. This sad state of affairs came about because there were rumours that the beverage and property group was about to report poor earnings. Unfortunately, there225 words
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Article3531 1997-12-13 14 *B97 Last V«l D«V Last Oust* H*h lm Mm Cmw«« M. ♦.r- (-000) HM> L— T«r W« Wee M Mm 3000 m AMDS cS.5%0202)6 __14 -1 22 15 14 J33 IS 81 15 3160 Acer ******1 US$ 15.5 -1 96 16 15.5 155 J* 5 131 21 3)64 Acme *(*****43,531 words
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Article2138 1997-12-13 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 282,138 words
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STOCK EXCHANGE OF SINGAPORE
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Article519 1997-12-13 15 2,DI uikukmtm*** in I JHWI ssss 3 I *1 j I —I 4 •n*** 1 f 1 *1 MM 5 2 I iJS a* i pn>Mj»i j 2tI 1 i S w»i»i 5 2 2 Sit i ll MMm 0 0 0 •If J Sat 4 i s s 4519 words
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Article4393 1997-12-13 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 M4,393 words
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Article890 1997-12-13 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 UMbL890 words
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Article, Illustration70 1997-12-13 16 Shiv Taneja - 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 and70 words
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Article205 1997-12-13 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 21.596.883205 words
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Article, Illustration659 1997-12-13 16 R Sivanithy - 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 on659 words
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ON THE GRAPEVINE
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Article89 1997-12-13 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 (no89 words
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Article103 1997-12-13 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 condo103 words
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Article88 1997-12-13 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 stance88 words
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Article70 1997-12-13 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 cocktail70 words
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Article131 1997-12-13 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 ended131 words
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Article89 1997-12-13 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
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Article81 1997-12-13 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. He81 words
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Page 7 Advertisements
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Advertisement116 1997-12-13 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's116 words
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Page 8 Advertisements
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Advertisement75 1997-12-13 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 8175 words
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Page 9 Advertisements
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Advertisement142 1997-12-13 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 always142 words
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Page 12 Advertisements
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Advertisement30 1997-12-13 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 :<i30 words
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Page 13 Advertisements
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Advertisement11 1997-12-13 13 I Making smart education choices begins with The Straits Times n11 words
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Page 14 Advertisements
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Advertisement49 1997-12-13 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.49 words
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Page 15 Advertisements
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Advertisement118 1997-12-13 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 Sing118 words
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Page 16 Advertisements
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Advertisement123 1997-12-13 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 the123 words
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EXECUTIVE Lifestyle
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Article, Illustration1527 1997-12-13 17 BEN MUNROE - 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 a1,527 words
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STRAWS In The Wind
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Article115 1997-12-13 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-feely115 words
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Article68 1997-12-13 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 within68 words
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Article67 1997-12-13 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 a67 words
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VIEW POINT
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Article, Illustration1081 1997-12-13 18 JAIME EE - 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 garlicFILE PHOTO - 1,081 words
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828 1997-12-13 18 Kevin Sulivan - 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
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Article, Illustration857 1997-12-13 18 Daniel Green - 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 30FT - 857 words
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PURSUITS
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Article, Illustration1032 1997-12-13 19 JAIME EE - 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 you1,032 words
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Article, Illustration498 1997-12-13 19 Tan Su Yen - 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 BuonaPHOTOS BY SIEW YAW HOONG - 498 words
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Article, Illustration658 1997-12-13 20 Susan Tsang - 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 warmth658 words
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Article, Illustration736 1997-12-13 20 Susan Tsang - 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 lawyers736 words
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Article703 1997-12-13 21 Ben Munroe - 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 Wines703 words
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Article, Illustration347 1997-12-13 21 M Yasotha - 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
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EPICURE
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Article769 1997-12-13 22 N K Yoag - 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 Wine769 words
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Article, Illustration856 1997-12-13 22 TAN SU YEN - 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, ■BSIEW YAW HOONG - 856 words
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Article, Illustration755 1997-12-13 22 Corinne Kerk - 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
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Article, Illustration257 1997-12-13 22 Tan Su Yen - 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 be257 words
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Article, Illustration818 1997-12-13 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
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Article116 1997-12-13 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 208-6406116 words
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TRAVEL
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Article, Illustration1278 1997-12-13 24 MARK GRAHAM - 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 isPHOTOS BY MARK GRAHAM FOR BT - 1,278 words
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Page 17 Advertisements
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Advertisement8 1997-12-13 17 Pursuits Gilts with a woman's touch EL 38 words
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Advertisement146 1997-12-13 17 Travel JE Lost in time Jp^ in Luang fAhMM Prabang flHBg x A M EL 8 ,TAL I A N 1. 8 WBLL E R S 4ft .J A «ft «ft ;4% f» «fc V **#01 ii A W i v t% t 4 A V A M MVi *4146 words
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Page 20 Advertisements
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Advertisement231 1997-12-13 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
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Advertisement190 1997-12-13 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 waa190 words
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Advertisement118 1997-12-13 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 comes118 words
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Page 21 Advertisements
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Advertisement822 1997-12-13 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'.iiw822 words
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Advertisement151 1997-12-13 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 reminiscent151 words
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Advertisement49 1997-12-13 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 BBBBWBi49 words
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Page 23 Miscellaneous
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Miscellaneous2205 1997-12-13 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 Of2,205 words
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