The Business Times, 20 December 1997
1997-12-20
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The Business Times
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Title Section13 1997-12-20 1 THE BUSINESS TIMES MITA(P) ll(V12/97 85c SINGAPORE Internet- http://www.asial.com.sg/biztimes WEEKEND EDITION, DECEMBER 20-21,199713 words
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Article67 1997-12-20 1 KBCBAVGEBATHB* U» 8$ UBS UN 1— fJO 177# DM UK tttl YEN 1W 1778 UK HI tKl MK RKI till BAHT ttt M87 HUPfAH IK MM C.932 ram 1MB SINGAPORE* 177 KUALA LUMPUR. JJ| JAKARTA 18.00 BANGKOK 11* MANILA 12.60 HONGKONG 9.50 TAgP „l« SYDNEY. 150 TOOO 1M SEOUL67 words
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Article, Illustration695 1997-12-20 1 Singapore and Indonesia to moiint thorough investigation [SINGAPORE} A Silk Air Boeing 737-300 heading for Singapore from Jakarta crashed near Sumatra yesterday and all 104 people on board, including 46 Singaporeans, were feared killed. Debris from the plane, which was carrying 97 passengersSIEW YAW HOONG - 695 words
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570 1997-12-20 1 Catherine Ong - KohTong Gnanis new MD while Lee Ek Tieng becomes deputy chairman Byi Catherine Ong [SINGAPORE] Deputy Prime Minister Lee Hsien Loong will take over the chairmanship of the Monetary Authority of Singapore (MAS) from Jan 1, the government said in a surprise570 words
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851 1997-12-20 1 Louis Beckering - little joy over Kim's victory as foreign reserves nm oat From. Louis Beckering in Seoul THE cash-starved South Korean financial system ruined the party for the country's newlyelected President Kim Dae Jung yesterday, dragging share prices and the won sharply lower, and sending851 words
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Article932 1997-12-20 1 Anthony Rowley - Bankruptcy of food group wipes out gains from gtiwtnlfg package From Anthony Rowley in Tokyo THE Tokyo stockmarket showed disturbing signs of panic yesterday when the collapse of a Japanese food company provoked a dramatic fall of more than 5 per cent in share prices and932 words
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Page 1 Advertisements
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Advertisement194 1997-12-20 1 2 flOf ijmwr NEW YORK Stocks tumbled on Wall Street yesterday as a sell-off in Japan and concerns over US corporate earnings rattled market conditions. The Dow Jones Industrial Index dived 147.75 points to 7,608.75 at 2Jopm. Analyts said traders were concerned about US earnings reports and that the selloffs194 words
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Advertisement6 1997-12-20 1 Kim's stunning political comeback, Pg 66 words
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Advertisement387 1997-12-20 1 BfXS| HEWLETT* mSM PACKARD .jga iUJI A Glance at the Future F«itß«*/Proße» 1200 32-bit JatDtract EIO architactura Inatant-on Fuscr UttraPractaa toner cartridga Wtb-biMd inatallar and printar management •oftwaraa The future of printing. Once again, the leader in printer innovation introduces breakthrough office technology: the new HP LaserJet 4000. /x Boasting387 words
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SINGAPORE AT HOME & ABROAD
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519 1997-12-20 2 Tfeey say high* f interbank rates will ]rat pressor* OB banks' margins LOCAL banks are likely to raise their prime rate to at least 7 per cent within a month if high interbank rates persist, economists say. Already, two foreign banks generally519 words
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633 1997-12-20 2 It scores with lowest prices for 24 out of 61 festive items NTUC Fair Price has again emerged the cheapest in a supermarket price survey this time of festive goods, conducted by the Consumer Association of Singapore (Case) early this week. The cooperative633 words
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352 1997-12-20 2 Ven Sreenivasan - EDB YEAR-END REVIEW By' Ven Sreenivasan FIXED investment commitments for engineering industries rose 15.3 per cent to $1.32 billion this year, according to the Economic Development Board: The sector, which is one of of SingafaflSi manufacturing industry, contributed 17.6 per cent to total manufacturing val-ue-added and352 words
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305 1997-12-20 2 Toh Han Shih - By' Toh Han Shih JAPANESE telecommunications giant NTT will not only be providing Live On Demand (LOD) video service on Singapore ONE it wants to encourage the Japanese community here to get onto the nationwide broadband multimedia network, and hopes to tap305 words
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Page 2 Advertisements
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Advertisement443 1997-12-20 2 I A nin m wmit THAI VILLAGE SMAKKSFirN RESTAURANT PTE LTD I MB c A, jHr, j# M t| 1 Main Branch: 26 Amber Close #01-00 Sea View Hotel, Singapore *****4 Tel: 440 8251 Fax: 440 0748 I Branch: 50 Stadium Boulevard #01-01 Oasis Building, Singapore *****6 Tel: 440 2292/443 words
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Page 3 Advertisements
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Advertisement446 1997-12-20 3 NAVITIMER JBpL Early this century, aerial navigation was J The Breitling Academy thus stages aerobatics essentially a matter of dead reckoning, with the training courses where pilots have an aid of a map, an altimeter and a chronograph. opportunity to fly the three current top Cockpit instruments did little more446 words
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FOCUS: PERSONAL FINANCE & INVESTMENT
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BULL'S EYE
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Article, Illustration545 1997-12-20 4 nirrnl ♦(Sell) Indosuez WI Carr, Dec 18, US$l.65 Demand for Clipsal's products will be hit by the regional crisis, especially in Malaysia, Indonesia and Thailand. It is likely that the company will see negative growth in FY9B. Moreover, there will be significant translation losses due to the545 words
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Article, Illustration471 1997-12-20 4 Paul Schymyck - Paul Schymyck Executive Director CIBC-CEF HIS Christmas will I r not be as joyful for X Asia as in past years, but if the right measures are adopted, most economies will emerge from the regional currency crisis fundamentally stronger. It is unfortunate that the currency turmoil has471 words
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Article, Illustration901 1997-12-20 4 Christopher Tan - With downward pressure on COEs more likely than not those in the market for wheels have much reason to be merry Byy Christopher Tan [SINGAPORE] WHAT do Mercs and newborn chicks have in common? They both go "cheap, cheap". JustFILE PHOTO - 901 words
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658 1997-12-20 4 Caroline Meakin - Back W to Basics By i Caroline Meakin THE issue of investment timing has been touched on in previous articles in this series, but it is worth examining in detail. For the fact is, if, once you have analysed your financial position and658 words
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Article466 1997-12-20 4 Al Labita - EYE OK THE REGION: THE PHILIPPINES Bleak prospects for sustained rally due to forex woes: analysts From, Al Labita in Manila ASIA'S irrepressible currency malaise has virtually turned upside down Manila's share market, shattering a trading cycle and the Yuletide spirit. Prospects for a sustained466 words
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Article739 1997-12-20 4 Christine Stopp - Performance record, history, objectives are among guiding factors in process By i Christine Stopp THE first step to choosing a unit trust is to establish your investment objectives and the level of risk you are prepared to accept. Having narrowed the search down to a739 words
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MARKETS IN TURMOIL
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352 1997-12-20 5 Standard Poor's downgrades ratings of 4 Indon firms AFP Bloomberg [JAKARTA] Ratings agency Standard and Poor's yesterday downgraded four Indonesian corporations amid concerns over their ability to meet short-term debt obligations as they struggle with weaker cash flow. The New York-based credit assessor said in a statement the action reflectedAFP; Bloomberg - 352 words
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418 1997-12-20 5 Accord to raise quotas by 45% will fall short of fund's near-term needs: Camdessus Reuters [WASHINGTON] The International Monetary Fund said on Thursday that it has to shelve plans to tap member states for billions of dollars in extra cash forReuters - 418 words
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Article, Illustration309 1997-12-20 5 Jnst 3 yen offered for shares last traded at 33, hanka* gharag gliifo Bloomberg [TOKYO] Shares of collapsed Japanese food trading company Toshoku Ltd were untraded after the company filed for protection from creditors. Its shares were last offered for three yen, a decline ofBloomberg; REUTERS - 309 words
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558 1997-12-20 5 IMF extends DS$X5b while ADB dishes out USs2b Bloomberg [SEOUL] South Korea, in a daily struggle to keep creditors at bay, received a welcome boost when fresh injections of credit from the International Monetary Fund and the Asian Development BankBloomberg - 558 words
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525 1997-12-20 5 Eddie Toh - State-owned fund among those ordered to back bourse in Sept From, Eddie Toh in Kuala Lumpur PERMODALAN Nasional Bhd (PNB), one of the Investment arms of the Malaysian government, is sitting on paper losses of 20 per cent from525 words
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250 1997-12-20 5 Bloomberg AFXAsia [BANGKOK] The Thai government hopes to pass legislation within one month allowing foreigners to own up to 100 per cent in domestic brokerages. Commerce Minister Supachai Panitchpakdi said. He said the government hopes to have the law in placeBloomberg; AFX- Asia - 250 words
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304 1997-12-20 5 Region will use mare of own currencies by Jnly; Manila official AFP [MANILA] South-east Asian countries will increase the use of regional currencies instead of the US dollar in settling in-tra-regional trade transactions by July next year. Philippine trade secretary Cesar Bautista yesterdayAFP - 304 words
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Page 5 Advertisements
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KOREA'S PRESIDENTIAL ELECTION
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Article, Illustration902 1997-12-20 6 Bruce Cheeaman - By Bruce Cheeaman Bruce Cheesman, BT's Taipei correspondent, met Kim Dae Jung many times while covering Korean politics from 1987 to 1995 WHEN Kim Dae Jung was crushed by nemesis Kim Young Sam in the 1992 presidential election, the last rites were administered as South Korea's902 words
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503 1997-12-20 6 Jennifer Veale - Provinces felt neglected by previous central governments From Jennifer Veale in Kwangju THE citizens of Kim Dae Jung's home base of Kwangju weren't too bothered about share prices and the currency nosediving yesterday after the financial markets learned their champion would finally become503 words
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Page 6 Advertisements
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Advertisement185 1997-12-20 6 Io s e a this take a huge someone you love a jBM Motorola cellular the phone ever the when you buy cellular phone between Nov Dec also free extra The JU MOTOKOU OMOMAL ACCIMOrr FOR OPTMAI WOMMKI it' S always with you". Just ask Santa. Nam#: Tel: (H) (O)185 words
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REGION/WORLD
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269 1997-12-20 7 GENEVA Bloomberg THE World Trade Organisation (WTO) said countries aren't ready to hand it a leading role in combating crossborder monopolies, cartels and other anti-competitive practices. While trade disputes, like that surrounding this year's purchase by Boeing Co of fellow US aircraft makerBloomberg - 269 words
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WORLD Watch
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31 1997-12-20 7 Reuters [CANBERRA] The Australian government yesterday proposed that financial products including securities, derivatives, superannuation, life and general insurance and bank deposit products—all be subject to comparable regulation.—ReutersReuters - 31 words
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40 1997-12-20 7 AFP [SHANGHAI] The People's Bank of China (PBOC) is considering the application of several local banks for offshore banking licences and expects to launch the business in the first half of next year. AFPAFP - 40 words
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74 1997-12-20 7 Reuters [SHANGHAI] Shanghai's mayor struck a brass gong to signal the formal start of trading at the city's glistening new stock exchange yesterday, but Beijing leaders stayed away, raising eyebrows among some brokers. They had expected economic tsar Zhu Rongji to turn up andReuters - 74 words
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79 1997-12-20 7 AFP [LONDON] Former British premier Margaret Thatcher's model local council leader and her deputy were ordered to pay £27 million (5J74.7 million) after being found guilty of electoral corruption yesterday. The High Court in London upheld a decision to impose the massive surcharge against formerAFP - 79 words
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Article56 1997-12-20 7 AFX-Asia [BANGKOK] Thai Prime Minister Chuan Leekpai told reporters the government is considering making adjustments to the taxation system to make it more fair and to increase the country's revenues. Planned changes include increases in the inheritance tax and reductions in the corporate tax, heAFX-Asia - 56 words
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558 1997-12-20 7 GENEVA Agia'g financial crises won't affect global trade growth until '98: economists Bloomberg WORLD trade will probably grow faster this year than last, as consumers and businesses in the Americas and Europe buy more goods, raw materials and servicesBloomberg - 558 words
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338 1997-12-20 7 WASHINGTON Dissenting voice Bro&ddns cites concerns over rapid US growth Bloomberg US Federal Reserve policymakers faced with fragile financial markets, Asia's economic crisis and concerns about US inflation were divided in holding the overnight bank lending rate steady at their NovBloomberg - 338 words
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Article166 1997-12-20 7 BEIJING Bloomberg CHINA'S economy will grow at a 9 per cent rate in 1998, its slowest since 1990, as exports slump amid renewed regional competition, according to a survey of 16 Chinese and foreign economists. The economists forecast that China's gross domestic product,Bloomberg - 166 words
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Article, Illustration436 1997-12-20 7 Bruce Cheesman - TAIPEI Move a big blow to Taipei's drive to woo foreign investments By] Bruce Cheesman IN a major blow to Taiwan's drive to attract foreign investments, Germany's giant Bayer AG yesterday suspended plans to build a NT$49 billion (552.5 billion) chemical plantREUTERS - 436 words
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441 1997-12-20 7 BRUSSELS Reuters EU COMPETITION chief Ka- n 4 rel Van Miert on Thursday laid into some of Europe's big- n gest companies during a preChristmas briefing, but wag guarded on US software giant Microsoft Corp. I^* Mr Van Miert, effectively IflReuters - 441 words
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Article, Illustration497 1997-12-20 7 Lu Ning - SINGAPORE Consortium seals deal to build, operate China power plant By] Lu Ning A CONSORTIUM led by Sithe China Holdings Ltd, an energy investment firm in which the Singapore government's investment arms have a major stake, has sealed a deal to build and497 words
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Page 7 Miscellaneous
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Miscellaneous418 1997-12-20 7 CRYPTIC CROSSWORD MCMOBB HE Bp K K 6 Behave with undue familiari8 Novelist on said island near 11 Condescending but without IH HT~bH Constance and Desmond 1^ 12 Thus Ming was smashed by the firearm manufacturer (8) 14 Not liking worker who was H4 I I I M 5 I418 words
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COMPANIES & MARKETS
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474 1997-12-20 8 Conrad Raj - Upbeat forecast on the back of recovery in oilrig market By< Conrad Raj [SINGAPORE] Singapore's leading rig builder, Keppel Fels (Kepfels), is confident of achieving revenues of over US$l billion (Ssl.7 billion) next year on the back of a474 words
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Article, Illustration276 1997-12-20 8 Annette Pan - By. Annette Pan [SINGAPORE] Mainboardlisted CK Tang has continued to bleed red ink, yesterday posting a 20.8 per cent increase in half-time net loss to $8.7 million from $7.2 million, amid a beleaguered retail sector. Group turnover for the six months to SeptFILE PHOTO - 276 words
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269 1997-12-20 8 GP Batteries interim profit up 23% to 15.7 m [SINGAPORE] GP Batteries yesterday posted a 23 per cent jump in net earnings to $15.7 million for the half-year to September, surpassing analysts' expectations. Analysts polled in the December issue of The Estimate Directory forecast a 17 per cent increase in269 words
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686 1997-12-20 8 R Sivanithy - HOCK LOCK SIEW R Sivanithy N July, local food company QAF announced an ambitious, $2.75 billion purchase of a 50.1 per cent stake in Indonesia's H largest noodle maker, Indofood, part of the massive Salim group. At the time, the price686 words
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318 1997-12-20 8 Ven Sreenivasan - Ipco narrows net loss to 1.8m at half-time By Ven Sreenivasan [SINGAPORE] Infrastructure and engineering-based Ipco International recorded a net loss of $1.8 million on turnover of $119 million for the six months to Oct 31, 1997. This is an improvement over the previous year's net loss of $14.7 million.318 words
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354 1997-12-20 8 Eddie Toh - Rumours aboat its poor financial health also said to be nntme From Eddie Toh in Kuala Lumpur RHB Bank controlled by tycoon Rashid Hussain will not merge with Arab-Malay-sian Bank or any other bank in Malaysia as is widely rumoured, according to354 words
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320 1997-12-20 8 Eddie Toh - It fails to get waiver from making general offers for NST, TV3 From\ Eddie Toh in Kuala Lumpur CASH-strapped Malaysian Resources Corporation Berhad (MRCB) has called off its restructuring exercise after failing to get a waiver from making mandatory general offers for New Straits Times320 words
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163 1997-12-20 8 Bernama [KUALA LUMPUR] Diversified Resources Bhd (DRB), the vehicle and transport group, has reported a group pre-tax profit of 198 million Malaysian ringgit (5585.9 million) for the six months ended Sept 30, up 43 per cent from the RM138.5 million in the 19%Bernama - 163 words
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COMPANY Briefs
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70 1997-12-20 8 Reuters [SINGAPORE] Cigarette company Rothmans Industries said yesterday it will pay a dividend of 16.87 cents on its first-half profits, not 0.1687 cents as previously announced. Rothmans included the erroneous figure in its results for the six months to Sept 30, announced on Nov 7, whenReuters - 70 words
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78 1997-12-20 8 [SINGAPORE] Mainboard aspirant Magnecomp International's 40 million placement shares have been fully subscribed by financial institutions, said issue manager OCBC Bank. US-based Magnecomp, which makes suspensions for disk drives from its China and Thailand plants, opened its initial public offer on Dec 18. Its public78 words
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90 1997-12-20 8 [SINGAPORE] Showpla Asia has agreed to sell its property, occupying 20,898 sq m at Jurong Pier Road, to Jurong Town Corporation for $7.9 million. As the property is carried in Showpla's books at $3.35 million, the sale will give it an extraordinary gain90 words
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122 1997-12-20 8 AFP [BANGKOK] Thai Airways International Ltd announced yesterday that its net profit fell 18.3 per cent from a year ago to 2.76 billion baht (*****.4 million) in the fiscal year ended September 1997. A company statement said the decline was due to foreign exchangeAFP - 122 words
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95 1997-12-20 8 -Reuters [KUALA LUMPUR] 101 Corp Bhd said yesterday it and Nusa Properties Sdn Bhd have mutually agreed to terminate an agreement for 101 to buy Nusa's entire equity for 145.64 million Malaysian ringgit (Ss63 million). In a statement sent to the Kuala Lumpur Stock Exchange,-Reuters - 95 words
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COMPANIES
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236 1997-12-20 9 Bloomberg [NEW YORK] The US Securities and Exchange Commission is charging 58 defendants with penny-stock manipulation in one of the largest stock fraud cases the government has ever filed. The SEC filed five civil fraud suits on Thursday in New York and Salt LakeBloomberg - 236 words
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Article, Illustration391 1997-12-20 9 He led development of tape recorders, transistor radios, Trinitron TV system Reuters [TOKYO] Sony Corp's legendary co-founder Masaru Ibuka, who led the development of tape recorders, transistor radios and the Trinitron television system that helped the firm grow into an electronicsReuters - 391 words
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397 1997-12-20 9 Funds to go to telecoms ops in India, China, Philippines AFX-Asia [HONGKONG] First Pacific Co Ltd's wholly owned telecoms unit Asia Link said it plans to invest around US$B5 million (*****.4 million) in its operations next year. Asia Link directorAFX-Asia - 397 words
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461 1997-12-20 9 Reuters [MELBOURNE] Australian steel, mining and oil giant The Broken Hill Pty Co Ltd yesterday virtually invited bids for one-tenth of its assets, saying As 4 billion (554.3 billion) in asset sales were not out of the question. The struggling blue chip,Reuters - 461 words
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470 1997-12-20 9 Groups blame recent financial market turmoil for decision FT [HONGKONG] Ka Wah Bank, the Hongkong financial arm of China's flagship investment vehicle Citic, has shelved plans to buy into a part of Jardine Fleming, the Hongkongbased investment bank, blaming recentFT - 470 words
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148 1997-12-20 9 Bernama [KUALA LUMPUR] Berjaya Group Bhd has reported that its pre-tax profit for the half year ended Oct 31,1997 rose by 1.5 per cent to 262.1 million Malaysian ringgit (5J113.7 million) against RM258.3 million in the previous corresponding period. The company said in aBernama - 148 words
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187 1997-12-20 9 It says it is still in talks with 'relevant parties' on UEM deal Reuters [KUALA LUMPUR] Conglomerate Renong Bhd said it is requesting a continued suspension in the trading of its stock pending the conclusion of "discussions with relevant parties" on a share deal withReuters - 187 words
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FINANCE & COMMODITIES
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314 1997-12-20 10 Neil Behrmann - From Neil Behrmann in London THE London Stock Exchange (LSE) imposed a £350,000 (*****,960) fine on JP Morgan after two of its traders were found to have engaged in share sales aimed at knocking down the FTSE 100 share index. JP Morgan, which314 words
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441 1997-12-20 10 Proposal will also give US banks more flexibility in other lines of business Bloomberg [WASHINGTON] US banks secured the power to expand securities underwriting through their overseas subsidiaries under a proposal unveiled by the Federal Reserve on Thursday. The changes will benefitBloomberg - 441 words
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203 1997-12-20 10 Generale de Banqne to buy corporate lending operations Bloomberg [LONDON] Hambros pic will sell its corporate lending business for an undisclosed amount to Belgium's Generale de Banque SA as it begins to get rid of banking operations it has been unable to expand globally.Bloomberg - 203 words
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Article, Illustration305 1997-12-20 10 USS/nuurk: The US dollar was trading in the range of 1.7597 to 1.7852 for the first four days of this week, and was at the 1.7750 level yesterday morning. The picture is not clear at the moment, with a range trading between 1.7580 andSource: DBS Bank - 305 words
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247 1997-12-20 10 NYT [NEW YORK] In another jolt to the health-insurance business, shares in Aetna Inc, one of the largest US health insurers, plunged nearly 12 per cent on Thursday after the company announced the abrupt departure of a key financial executive. The swoon took US$l.4 billionNYT - 247 words
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Article191 1997-12-20 10 rum tin Report Reuters [SINGAPORE] Simex Euroyen futures dipped in thin trade yesterday as players worried about the Japanese government having to issue more bonds to fund its economic stimulus plans. 'There are fears the market might be flooded with bonds next year. That's why,Reuters - 191 words
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143 1997-12-20 10 Perry Gilbert - MSCI TAIWAN FUTURES By Perry Gilbert Gilbert, vice-president, Refco Singapore Pte Ltd [SINGAPORE] The Simex MSCI Taiwan Stock Index futures fell yesterday, as technology issues continued to be sold. The December contract ended near its intra-day low as sellers led by Carr Futures and OCBC143 words
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284 1997-12-20 10 ENERGY REPORT Reuters [SINGAPORE] Refiners here are bracing for another round of drastic output cuts as losses run deep amid the most miserable energy winter in years, sources said yesterday. "The pressure to cut production is rising. The margins are becoming unbearable and onceReuters - 284 words
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Article285 1997-12-20 10 AFP London THE US dollar was higher yesterday afternoon by comparison with the morning level, but trading was light due to the approach of the year-end holidays. The dollar was up to 1.7718 marks against 1.7677 in the morning and 1.7760 on Thursday. It was up to 128.67AFP - 285 words
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Article, Illustration1354 1997-12-20 10 DfTBEBAMK OQ88 RATB8 p e c 19 hi cs —t ecu ft n mwh fcpMi rwwwi mcsmmyw a e«* »r rrs nx *MkJL aMtm» 0.929 1170 0504 3J6I IBS 1049 ***** ***** 0538 10.1a 1494 1127 ***** 25.709 1085 1*9 0.934 ***** ***** (UK OfiZi em* ton SJ23 0.62® 4.1571,354 words
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Article1709 1997-12-20 11 8IC0M FUTURES Dec 19 lUMIi (Mww ttataf at SJOpa) RSS1 CONTtACT(S cMtiAa) CtOM VotaM Opa« Mwrtt HI# Low Sett (towm) Irtaraat iw 98 118.75 70 Faft 99 120.00 TOO Mar 91 121.25 ***** ***** 50 595 Apr/Jun 98 126.00 300 WOO Jul/Sep 98 130.50 300 2145 Oct/Bac 981,709 words
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Article2302 1997-12-20 11 ummn |1&£' ■Mm tic 19 Naca 31 Group 503 -8 »B Pert* 300 unch APPay national 1064 -48 A Iliad Domacq 510 -16 Ampc 118 *2-200 Aula Group 177.600 -.800 BAT KM 546 -22 BG PIC 280 -5.400 BICC 160 -2 BOC Group 961 -10.300 BR Patrotaum2,302 words
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Article1682 1997-12-20 11 AFP □Nikkei 225 -***** JAPANESE stocks plunged 5.2 per cent yesterday after the collapse of a leading food trading company stepped up anxiety over banks' credit crunch, brokers said. The 225-stock Nikkei Average dropped 846.75 points to finish the week at 15,314.89. The Nikkei Index lost 990 points atAFP - 1,682 words
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Article, Illustration1519 1997-12-20 12 AFP n Hang Seng -34&30 HONGKONG share prices dropped 3.2 per cent yesterday on profit-taking after two days of gains, as investors turned jittery following declines in New York and Tokyo, dealers said. "The market has been dragged down by poor performances in Tokyo as well as in NewAFP - 1,519 words
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Article, Illustration633 1997-12-20 12 Bloomberg nShwrahfti B Index -L5B CHINA'S B shares fell yesterday as Inner Mongolia Erdos Cashmere Products tumbled to a record low after the company said that it will report lower 1997 profit amid intense competition. Li Chenjun, an official at the company's board secretary office, said Erdos' operating profitBloomberg; Source: Credit Lyonnsis Securities(Asia) Ltd - 633 words
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Article397 1997-12-20 12 AFP QWP Index -H2.47 STOCKS dipped 2 per cent yesterday, led by technology shares as market sentiment went bearish on the back of the overnight fall on Wall Street, brokers said. "A drop on the US hightech Nasdaq Index dragged down technology shares and drove other issues downward," saidAFP - 397 words
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Article, Illustration722 1997-12-20 12 AFP Composite Index +0.41 SHARES ended barely higher yesterday, as the impact of the rupiah's rebound against the US dollar was offset by regional market weakness which capped further rises. "The rupiah was gaining strength but then regional markets were going down, so we went down," a dealer said.AFP - 722 words
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Article, Illustration823 1997-12-20 12 AFP SET Index -2J3 SHARE prices fell yesterday as the baht and most regional currencies slipped against the US dollar. Analysts said share prices were lower across the board on profit-taking amid tight liquidity and declines in regional markets. The SET Index fell 2.13 points at 385.25. Turnover wasAFP - 823 words
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Article304 1997-12-20 12 AFP H Manila *12J3 STOCKS rose yesterday in response to continued moves to stabilise the local currency. The Central Bank of the Philippines has committed to infuse US$l5O million (Ss2so million) into the trading system each day, starting Thursday a move that helped the exchange rate stabilise. The PSEAFP - 304 words
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Article417 1997-12-20 12 AFP Q Composite Index -2L47 SHARE prices closed 5.1 per cent lower yesterday on concerns that tough restructuring programmes could be introduced now that a new president has been elected. "The fall can't be blamed only on the election. Investors are uneasy and worried about how the change ofAFP - 417 words
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Article596 1997-12-20 12 AFP QmOrtiMriM -36J SHARE prices slipped yesterday, sapped by a slide in the Japanese stock market, brokers said. "News of bankruptcies in Japan and the Nikkei down 6 per cent just sent the market into a spiral," said a trader. The All Ordinaries Index, fell 35.0 points to 2,528.1.AFP - 596 words
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Article254 1997-12-20 12 Reuters Q Wellington -17.56 SHARE prices closed the week on a negative note yesterday, but brokers said that the stock market had held up well in light of the plight of its offshore counterparts. The NZSE-40 ended 17.56 points weaker at 2,300.95 on hefty turnover worth NZ$BO.B million. ReutersReuters - 254 words
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KUALA LUMPUR STOCK MARKET
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Article8230 1997-12-20 13 Cohsmmt products 1991 Lm« vol Day Net Cap l— Cimaeny taie >000 m» l— ph tui 790 220 Ajmomoto 240 5 3 240 230 133 97 3 448 IB Angkasa 121 -2 53 121 119 2.8 178.4 905 225 Apollo Food Hlg 240 15 6 250 235 7.0 96 08,230 words
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Article, Illustration521 1997-12-20 13 AFX-Asia fl Compositelndex +LlB SHARE prices closed marginally higher in volatile trade yesterday as buying support for Telekom Malaysia narrowly kept the key index in positive territory, dealers said. The KLSE Composite Index rose 1.18 points to 578.76. The Emas Index lost 0.22 at 151.21AFX-Asia - 521 words
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WARRANTS & OPTIONS
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Article3616 1997-12-20 14 BONK, LOANS A WAMANTS wt •9*7 LMt Val Day Last Owata A»q High Law Stna Company Ma ♦ar- COOO) Mt«ti Law Buyar Sallar Prict 68 11 m 3000 m AMOB C53H*****6 "ti unch 10 n n S 12 81 13 3160 -Acar ******1USS 13 -2 39 IS 13 13.5 14.53,616 words
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197 1997-12-20 14 R Sivanithy - WARRANT WATCH By R Sivanithy THE collapse in the Asia Food Properties (AFP) share price to 17 US cents yesterday from a high of US$l.44 in July must surely rank as one of the worst performances turned in by197 words
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Article2331 1997-12-20 14 6c 6r 1997 Laat Vol Day Last Ouota Mv Mv YM Mat M Cap High Low Stno Company Ut* COOP) Hl» Law Buyar Sa6ar Cvr >/t $m« "578 is mi 5000 AISB50C 56 cd 1 194 57 55 56 57 iO 33 19 22.7 573 137 21 ID)2,331 words
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STOCK EXCHANGE OF SINGAPORE
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Article1359 1997-12-20 15 TUWOVI* COOO) VALUE COOO) m* cm urn mm cm t«* Mu*W 59.691 23.817 UJM 160,00 12.155 172JM nrwei *319 8,662 16.181 11,138 6.453 MJM Hp»rt» 1.6*1 38* 2.069 2,209 t» 2JSN PreHrtM 12.016 6.646 18,664 ***** 1839 47.004 "•£*»«> 2.294 UM 1.527 13*7 MMm 337 337 Of 135 *t» 1.9711,359 words
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Article4788 1997-12-20 15 Or Or M Wt <997 Last Vaf Day Lift Ouota Dfv Dfv Yld Nat Cap Ava L— «tw Ciapwy M> COOOI MN> L— fc»yr »g—r Or Pfl $51 Prtca MMJSTMALS 1ST 26 a 1020 ACE Dynamic s60c 29 -n 21 30 28.5 29 32 23.7 29 5146 ASE4,788 words
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Article843 1997-12-20 15 Ult Vol Dty LMt OMtc My nty ym M«t Lmm ,tM# C>—»y tm rOOO) U» t»yr Mtr C*w P/I *mN Frtc« 186 76 t 2000 AM NMqi 5c 136 »4 IS 138 t37 U) 134 JjO 6 0 01 1971 614 m *S x m 2 *o S! is-843 words
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Article216 1997-12-20 16 W«da *<*— *M Resources 8,353,000 ST EnqqtOc 7,453,000 DeSLMd 5,539,000 SingTei 15c 5,461,000 *MBf Capital 3,773.000 •Rekapacific Bll 3,134,000 Asia Food&Prop 2,932,000 •RHB Cap Wt99 2,831,000 HatSteel 50c 2,684,000 SIA Foreign 2.472,000 Mwto 06S Foreign 29,008,185 SIA Foreign 27,706,865 U08 Foreign 23,424,818 City Oe* 50c 17,764,103 SingTel 15c 16,957,870 FIN216 words
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Article, Illustration68 1997-12-20 16 Ven Sreenivasan - -by Ven Sreenivasan KEPPEL CORP, which ciosed five cents higher at $5.05 yesterday, seems to have found its immediate support at the $5 level With the RSI in an oversold region, the counter is trying to regain lost ground. However, it faces stiff near-term resistance at the 15.5068 words
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Article, Illustration663 1997-12-20 16 R Sivanithy - Trading generally listless and featureless; property stocks down on disappointment that talk of an easing in roles was probably unfounded STOCK MARKET COMMENTARY By R Sivanithy [SINGAPORE] A weak closing on Wall Street on Thursday, followed by steep drops in theChart info from Bridge - 663 words
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ON THE GRAPEVINE
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Article101 1997-12-20 16 IN THE real world, Nick Leeson's still paying his dues in prison for single-handedly bringing down Barings, the oldest merchant bank in Britain. Nothing exciting about that. But things are quite different in the reel world. When a female found out that hip British actor Ewan McGregor (of Trainspotting101 words
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Article134 1997-12-20 16 MORE and more Arms are doing their part for charity during this season of giving. This year, Arthur Andersen is sending out greeting letters to clients and contacts instead of cards, and donating the money saved to charity. Another firm, public relations agency Huntington Communications, has134 words
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Article103 1997-12-20 16 TIMES must be really grim for Hongkong hotels. According to Bloomberg, the swanky Peninsula Hotel is running its fleet of Rolls-Royces through the city's congested streets to pick up business, in a bid by management to boost revenue. For roughly 60 per cent of normal103 words
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Article110 1997-12-20 16 SINGAPORE has just been invaded by 200 snowmen from Hokkaido, Japan. No, not the abominable type but snow figures made from the famous powdery snow of Hokkaido. It is part of a promotional exercise by Ail Nippon Airways and the Hokkaido government to promote the ski slopes110 words
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Article96 1997-12-20 16 Want to buy some cheap property? Two Websites, http://texasusa.com/Moon and Moon Shop at http://www.moonshop.com is selling over the Internet property on the moon. Moon Shop says its lunar property does not cost the Earth. Moon Shop is offering for only U5515.99 (5326.60) 10 "sercas" of lunar property, which96 words
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Page 9 Advertisements
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Advertisement736 1997-12-20 9 i\|L TRI-M TECHNOLOGIES (S) limited /JB J A\ (INCORPORATED IN THE REPUBLIC OF SINGAPORE) The Directors of Trf-M Technologies (S) Limited wish to snnounce the unaudited results for six months to 30th September 1997. THE GROUP THE COMPANY SS'OOO SS'OOO 30/9/97 30/9/96 30/9/97 30/9/96 Turnover 17,194 31.737 -46 17,643 55,422736 words
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Page 12 Advertisements
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Advertisement41 1997-12-20 12 y' Hello, I saw your /Hi H i\ was advertisement in pio wers j Janice surprise^ N Buyins or selling through ni a e d a v ry The Straits Times Classified is child's Play. —*—i-> —call C.A.T.S. at 1800-737-1166.1 A' >41 words
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Page 13 Advertisements
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Advertisement20 1997-12-20 13 Make The Straits Times Classified your first pit stop when I shopping for your car or motorbike. I Q I20 words
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Page 14 Advertisements
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Advertisement76 1997-12-20 14 Hello? I'm calling about\ m S a PPy 1 found my pet through your advertisement in great...just like c J npi q -p. pi .a t I I i j 11 The btraits l imcs Cldssificd. I 1 I J I J V Vim going to take real good I76 words
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Page 15 Advertisements
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Advertisement14 1997-12-20 15 Buy It. Sell It. Find It. Classified. tlf Call Today For Results Tomorrow. 1800-737-116614 words
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Page 16 Advertisements
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Advertisement413 1997-12-20 16 BUSINESS Notices THE COMPANIES ACT, CAP.» CLOTHES INCORPORATION PTE LTD (In Members' Voluntary Liquidation) Al an Extraordinary General Meeting of the abovve mentioned Company duly convened and held at 7500 A Beach Road *16-317 The Plua Singapore *****1 on 17 December 1997 the following Special Resolutions were passed: 1. RESOLVED413 words
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Advertisement339 1997-12-20 16 THE COMPANIES ACT,CAP. St JILY CNC MACHINE TOOLS PTE LTD (In Members Voluntary Liquidation) At in Extraordinary General Meeting of the Members of JILY CNC MACHINE TOOLS PTE LTD duly convened and held al 101 Upper Croat Street *04-43 People's Park Centre, Singapore *****7 on the lit day of December339 words
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Advertisement228 1997-12-20 16 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF HANWAH IMPORT EXPORT (3) PTE LTD (In Voluntary Liquidation) FINAL MEETING NOTICE is hereby given pursuant to Section 308 of the Companies Act. Cap. 50 that the Final General Meeting of the members of the above228 words
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Advertisement43 1997-12-20 16 To advertise call toll-free 1800-741 1883 BUY<* SELL/ FIND,/ Classified ads put home-seekers on solid ground No matter what it is, you can always buy it, sell it or find it with the Classified. TOLL PRE 1800-737-1166 fcJ Coll Today For Results Tomorrow.43 words
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Advertisement125 1997-12-20 16 1 THE STRAITS TIMES CLASSIFIED YOUR GUIDE TO MORE PRODUCTS SERVICES Get yourself better organised by reading Q Which section of The Business Times benefits you most? The New CASIO Digital Diary r I fIN-20 Business Navigator Series let you see plenty of data at 1 y a glance, just125 words
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EXECUTIVE Lifestyle
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Article, Illustration1314 1997-12-20 17 TAN SU YEN - Moderation seems to be the keyword this festive season as Singaporeans cut back on their excesses and learn to celebrate less lavishly. This is not necessarily a bad thing; it could also mean putting the heart back into Christmas, says tax su yen TAN SUPHOTOS BY SIEW YAW HOONG. CANDLESTICKS FROM IKEA - 1,314 words
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STRAWS In The Wind
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Article39 1997-12-20 17 SEEN in the lobby of a hotel here recently was this rather cryptic announcement: "Wedding dinner (sentencing) of Alvin and Jessie at the grand ballroom." Maybe someone felt that marriage was like life imprisonment.39 words
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Article73 1997-12-20 17 THE organisers of the Supreme Court's open house cum exhibition held earlier this month were surprised by the 61,000 visitors who walked through the doors they were planning for just a quarter of that number. Still, they ensured that there was something for everyone, like balloons for73 words
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Article37 1997-12-20 17 WE RAN a straw recently about a money changer called Wisma Drugstore. Now we hear that there's a hi-fi store called Precision Auto. Wish they'd make up their minds about what they want to be.37 words
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Article63 1997-12-20 17 HERE'S a pat on the back for the local mail service. One of our reporters was sent a card from the United States addressed to Business Times at Jurong Port Road. That's where our printing presses are, not our editorial team. But the card still managed to63 words
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BOOKS
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Article, Illustration1207 1997-12-20 18 HARISH MEHTA - Gavin Young, 69, spends 10 months a year on the road, and there's no stopping him from turning up in all sorts of dangerous places. mehta catches up with the writer who has covered 16 major wars and most of South-east Asia HARISH MEHTA AT 69,1,207 words
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420 1997-12-20 18 IT WAS lan Fleming, the creator of James Bond, who told a certain young Englishman to become a journalist and join The Sunday Times of London. It was considered the best way to see the world in the '50s. That young man,420 words
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Article, Illustration782 1997-12-20 18 Michiko Kakutani - REVIEW Jane Austen, A Biography By Claire Tomalin Alfred A Knopf 341 pages (Illustrated) U5527.50 By\ Michiko Kakutani NYT "OF EVENTS her life was singularly barren," Jane Austen's nephew once observed, "few changes and no great crisis ever broke the smooth current of itsNYT - 782 words
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PURSUITS
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Article, Illustration955 1997-12-20 19 JAIME EE - Christmas is less than a week away. If you're still shopping for presents, why not go for items that support worthwhile causes or benefit various charities at the same time? jadib be tells you who's selling what and where you can get them JAIMEPHOTOS OF SPCA T SHIRTS. ELTON'S ANGELAND FABRIC HANDICRAFTS BY SIEW YAW HOONG - 955 words
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Article, Illustration461 1997-12-20 19 TAN SU YEN - T4M su ten shows you how to make it shine this Christmas TAN SU YEN THERE will be many living rooms bathed in the warm glow of candlelight this Christmas season, going by the increasing popularity of candles and candle holders here. Retailers report that461 words
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Article, Illustration749 1997-12-20 20 Ben Munroe - NIGHTSPOT Expect huge crowds, copious amounts of booze and loads of good cheer as free spirits throng this ever-popular strip By\ Ben Munroe COME Christmas Eve when the office has closed and the party mood takes over, hit the well-worn tiles at BoatFILE PHOTO - 749 words
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Article, Illustration713 1997-12-20 20 Andrew Lim - MUSIC Whether you're into chant or gospel, Placido Domingo or Michael Bolton, there's a CD to put yon in a merry mood this festive season By Andrew Lim CHRISTMAS music never fails to create an atmosphere. Depending on the musical style you choose, it canSIEW YAW HOONG - 713 words
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Article, Illustration694 1997-12-20 21 Susan Tsang - CINEMA Helmsman James Cameron manages to keep everything nicely afloat in Titanic By\ Susan Tsang THE Titanic, hailed as "unsinkable", was big and brash. So who better than James Cameron (Terminator 11, True Lies) to direct the movie about the ship that made the biggest splash694 words
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Article, Illustration380 1997-12-20 21 M Yasotha - Compiled by M Yasotha MUSIC S'pore Symphony Orchestra: Christinas Concert David Firman conducts this familiar favourites concert. Programme includes Rimsky-Korsakov's Dance of the Tumblers, Prokofiev's Cinderella and Herbert's March of the Toys. The concert ends with the traditional Christmas sing-along. Tonight, 8.15pm at Victoria Concert Hall. Tickets: $8,380 words
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EPICURE
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Article128 1997-12-20 22 JAIME EE - Want to eat well this Christmas without making a hole in your pocket? jaimb be invites three top chefs to show you how JAIME EE LESS is more. At Christmas, sometimes this maxim can be good for your diet as well as your pocket. But lest you think128 words
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Article, Illustration904 1997-12-20 22 TOASTED OLIVE CROSTINI WITH BAKED EGGPLANT AND BASIL TOMATO (Serves 4) Ingredients: 1 loaf focaccia bread, 2 medium size eggplants, 4 ripe tomatoes, 4 stalks fresh basil, 1 clove garlic, 30ml olive oil (preferably extra virgin), 30gm parmesan cheese, crushed black pepper and salt to taste.PHOTOS BY SIEW YAW HOONG - 904 words
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Article, Illustration639 1997-12-20 22 WARM SLIPPER LOBSTER SALAD WITH CURRY AND PASSION FRUIT VINAIGRETTE (Serves 4) Ingredients: Lobster: I.Bkg slipper lobster (cooked and deshelled), 50ml olive oil, 20gm turmeric powder, sgm salt, sgm pepper, lOgm sugar. Salad: 25gm red chicory, lOOgm each yellow and red frisee, 50ml lemon olive639 words
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Article, Illustration929 1997-12-20 22 SALAD OF ROASTED MUSHROOMS AND GREENS (Serves 4) Ingredients 80gms each of oyster, shiitake and abalone mushrooms stems removed and cut in 1 inch pieces. Marinade: 20gm garlic (minced), 30gm shallots (minced), lOgm chilli padi (stems and seeds removed, minced), 15ml fish sauce, 15ml light929 words
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Article, Illustration790 1997-12-20 23 Allen Resurrection. Ripley (Sigourney Weaver) is back and even more determined to destroy the biggest, baddest alien ever. Lido, Republic, Hougang, Jurong, Choa Chu Kang, Century, Too Payoh, Whitesands, Empress, Marina, Jubilee, Cathay, Orchard, Eastpoint, Central, Yishun, Bishan, Tiong Bahru, Boon Lay, Tampines, GV Marina, Pavilion. Devil's Advocate. A790 words
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Article121 1997-12-20 23 Cathay Org Cathay 338-3400 Eastshore 346-1816 Orchard 235-8386 Picturehouse 338-3400 Yangtze 223-7529 magWmh Empress 777-5867 Jubilee 454-1640 Mandarin 292-9401 Marina 338-9719 Whitesands 585-1782 OKI— TPU#• Bedok 443-2405 Bishan 353-8885 Boon Lay 792-2788 Broadway 454-9394 Majestic 533-9032 Marina 337-9488 Pavilion 786-5788 Tampines 8 786-5788 Tiongßahru 274-6588 Yishun 257-7848121 words
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TRAVEL
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Article, Illustration558 1997-12-20 24 VEN SREENIVASAN - Le Meridien Nirwana Golf Spa Resort gains immeasurably from being set within a totally natural environment of rice fields, streams and creeks, says vmr srbbmitasav VEN SREENIVASAN IF YOU fancy a holiday in Bali but find Übud too quiet, Kuta too cluttered and Nusa Dua558 words
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Article505 1997-12-20 24 THIS is a development which was almost derailed by controversy some four years ago when a Jakarta newspaper revealed that the Bakrie Group was developing a mega resort right at the doorstep of the sacred Tanah Lot Hindu Temple. The resort's chief executive officer Dorian505 words
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Article, Illustration1262 1997-12-20 24 Walter Glaser - WILDLIFE The descendants of the dinosaur are alive, well and ready to bite By' Walter Glaser FT MORE than nine feet long, and looking deceptively docile, the Komodo dragon lay sunning itself on a patch of bare ground. It could have been a scene straight out ofFT - 1,262 words
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Page 17 Advertisements
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Advertisement14 1997-12-20 17 P Books Gavin Young: mLmP. man on I PS the move il if EL214 words
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Advertisement88 1997-12-20 17 Pursuits Charitable gift ideas EL 3 BVLGARI CONTEMPORARY ITALIAN JEWELLERS Wf Ipllfb IpM -fir m 4 #*> -J -V i •> »>%*** v V CI *j*»» **'vl* A i f* V% 4' V \i£Bkf•• "i Jf Troncketto ring in 18 k t gold and steel and with amethyst. Singapore Hilton88 words
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Page 20 Advertisements
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Advertisement166 1997-12-20 20 SAVOUR THE WORLD IN ONE SERVING. The 'TROPICARIBE' of Colombia Indulge like never before In one choice destination at Carmen's Seafood Wine the gastronomic paradise! Exquisite Mediterranean and French cuisine. A bouquet of choice wines from the best AjrfffS^K vineyards. Sizzling live perfor- Cvl yiH mances from South America T166 words
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Advertisement27 1997-12-20 20 ill 26/27 Boat Qu«y Your Sunday reading is not complete without fati "Wem'. Check it out in Sunday Classified this weekend. Ay f&k IwwmMi [wT CAT A27 words
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Page 21 Advertisements
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Advertisement899 1997-12-20 21 Where to wine, dine and entertain...^ HH Wkat tetter way to celebrate a great week than Sunday Brunch at The Cafe-in-The- Enjoy the finest brunch and service at only $2S* 1 per adult (only $14' for the kids). Then toast your good fortune with I Gold Sett Champagne, each glass899 words
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Advertisement195 1997-12-20 21 Mandarin Stngaparr Presenting The Longest Buffet Spread at Mandarin's Annual CHRISTMAS FUNLAND 25 Dec 1997, Thursday 1 lam 3pm Mandarin Ballroom Join us for fun games with f.Jm MoeAlkaff Call for your tickets 333, Orchard Road, Singapore *****7. Tel: *****11 In Seasonal Specials In Our Garden. Festive Buffet Dinner 6pm195 words
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Page 23 Miscellaneous
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Miscellaneous2185 1997-12-20 23 TODAY'S TV BBflftmggitnim uiuuiiMn 10,30 Saturdfl y Chinese Cine- 0.00 AM TVSN. ma 1 Red Wolf. A__ «srnrQPQP nn thp man IXOO NN TV Innovations. iaj Saturday Chinese American LOO P M Tennis ATP Tour Cinema 2-Godzilla vs Harvey Keitel is a Highlights 1997 Hanno J?° thra dreams low-grade hood2,185 words
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