The Business Times, 23 December 1997

Total Pages: 42
1 42 The Business Times
  • 20 1 THE BUSINESS TIMES MITA(P) IKVI2/97 85c S 1 N G A P O R E Internet: http://www.asial.com.sg/biztimes TUESDAY, DECEMBER 23,1997
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  • 72 1 sra 1541J6 (-30.96) P"Jj BT-SKI mm «L 32 (-7.38) n VrOQHP mm 133M8 (-26.97) nBTMQA U 836J6 (-12.67) £T IUMETMOOD: STOCK MAMETDnHCEB Monday Change KI>SK COMP WISL 8J3 NIKKEI 14.7ML4« HANG SENG 11,***** 23U4 SET INDEX 37%.% JAKARTA eOMP __WBJS +7* MANILA COMP _1 V W7.1« +28J6 TAIPEI
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  • 72 1 EXCHANGE BATES ust SI UBS 1871 l.Stt 2.799 MI IMl 0J4I TEN IN 1.717 IJM MS 92M 0.436 HKS 9.129 1516 BAHT 1.922 9.917 RUI1AH 199 9.911 9032 btltrbank ram PUKE BATES SINGAPORE' 177 KUALA LUMPUR... J JO JAKARTA 18.86 BANGKOK 1J.2S MANILA llfii HONGKONG MS TAIPH J.M SYDNEY
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  • 866 1  -  Even solvent financial institutions risk being brought down From< Anthony Rowley m 7bA?/o THE sense of crisis intensified in Japan yesterday as a senior policymaker of the ruling Liberal Democratic Party admitted the danger of systemic problems erupting among financial institutions and as
    Source: Dow Jones; AFP  -  866 words
  • 756 1  -  5.36b baht deal will raise its stake in Thai Dana to 50.3%; GIC, Temasek also raise their stakes ffyi Conrad Raj [SINGAPORE] DBS Bank yesterday became the first foreign bank to acquire majority control of a Thai bank, Thai Danu
    756 words
  • 383 1  -  By Abdul Hadhi [SINGAPORE] In a signal that residential property prices will not be allowed to crash, the Urban Redevelopment Authority (URA) yesterday rejected a bid for a Tanah Merah parcel as too low. The $48.06 million bid for
    Source: UBS  -  383 words
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  • SINGAPORE AT HOME & ABROAD
    • 708 2  -  In feet, the entry of two mega-gym* is seen as helping to grew the market By\ Benjamin Tan TWO new mega-gyms are due to bounce onto the Singapore fitness scene in January but key players in the gym industry say they
      708 words
    • 452 2 The Straits Times MINISTER of State for Communications John Chen has called on Malaysia to halve the proposed toll rates for trucks, buses and taxis which use the new Tuas bridge linking Singapore and Malaysia. The proposed rates, ranging from RMB (553.50)
      The Straits Times  -  452 words
    • 310 2  -  EYE ON THE ECONOMY Commerce By. Audrey Tan SINGAPORE'S tourism industry looks set for a rough ride ahead as visitor arrivals shrank in double-digit levels for the second month running to 10.7 per cent in November. The Singapore Tourism Board blamed the decline on weakening economic
      Source:  -  310 words
    • 218 2 THE National University of Singapore has hooked up with Singapore ONE in a move which will greatly boost the multimedia network's number of users. Yesterday it launched NUS on ONE, which will enable 26,000 of the university's staff and students to
      218 words
    • 557 2 STT.KAIR DISASTER Singapore authorities stand by safety record oflO-month-akl Boeing SILKAIR is offering immediate financial aid to families of the passengers believed killed in Friday's plane crash near Palembang, Indonesia. Speaking to TCS News last night, Silk Air spokesman Rick Clements said the company's
      CHOO CHWEE HUA/TNP; ALPHONSO CHAN/ST  -  557 words
  • Page 2 Advertisements
    • 246 2 fpVincp L B«d« 4*KX. J Ml MMM MHI Germany 11 v/ Collection Malibu. with the head-board of honey coloured peeled rattan matching red-golden fabric coordinated with striking check and str>pes is very impressive Bedding sizes: 180 1 200 cm FashonaHa orange or apple green daleimme RUf bed creations wtocft are
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  • FOCUS: PROPERTY
    • 474 3  -  New rules encourage building of covered rooftop spaces, pedestrian linkways By. Diana Oon [SINGAPORE] THE Urban Redevelopment Authority yesterday gave developers and architects a Christmas present a relaxation in the rules to encourage better designed commercial, industrial and non-landed residential property. Effective yesterday,
      474 words
  • Page 3 Advertisements
    • 272 3 QgofJfieiy Available at Goldlion Boutiques and selected fine stores only COLLECTIVE SALE BY TENDER TWO ADJOINING RESIDENTIAL REDEVELOPMENT SITES AT LENGKONG EMPAT (Near Kembangan mrd I Site 3T63 pan-isuno expressway Parcel A: 1581.3 sqm [17,021 sq ft] PARCEL a PARCEL b Pareel B: 1479.9 sq m [15,929 sq ft] I
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  • MARKETS IN TURMOIL
    • 439 4 It aims to acquire as much as 500b yen In frud IMM Iwitkffl by real estate Bloomberg [TOKYO] Goldman Sachs Co aims to buy as much as 500 billion yen (556.4 billion) in bad loans backed by real estate from Japanese
      Bloomberg  -  439 words
    • 359 4  -  Moody's lowers govt, corporate bonds to 'Bal', 9 firms and 20 banks to jonk status From Lonis Beckerling in Seoul KOREAN interest rates yesterday soared almost 3 percentage points to 30 per cent in response to a further downgrade by ratings agency
      359 words
    • 231 4 AFP [SEOUL] South Korea's largest carmaker Hyundai Motor Co yesterday shelved a major joint venture in Indonesia, citing financing problems, and said it may have to pull out altogether. "We have decided to shelve the US$4OO million (Ss67o million) project in Indonesia because of
      AFP  -  231 words
    • 415 4 FT [SEOUL] The South Korean government said on Sunday it would double the amount of a state fund to buy bad bank loans. This is part of a package of financial reforms aimed at winning back the confidence
      FT  -  415 words
    • 1216 4  -  Except for Japan, govt support for banks is uncertain, it says By< Conrad Raj [SINGAPORE] Only the best of Asia's large banks can count on state support in the event of a bank failure, according to international ratings agency Fitch
      1,216 words
    • 474 4 Bloomberg [JAKARTA] Indonesia's benchmark stock index rose to its highest in seven days, led by PT Telkom, as investors bought stocks better positioned to weather the country's economic turmoil. "The thrust in Asia is now towards looking for companies with
      Bloomberg; Source: Bloomberg  -  474 words
    • 358 4 Moody's latest move sends baht past 47 against US dollar AFP [BANGKOK] Moody's downgrade of Thailand's foreign currency rating yesterday relegated its debt issues to junk bond status, further gnawing away at the country's economic prospects, analysts said. The news that the US-based
      AFP  -  358 words
    • 317 4 Bloomberg [KUALA LUMPUR] Moody's Investors Service cut the credit rating for Malaysia's debt as well as the debt of six companies, including three banks, on concern the slower economy and weaker currency will accelerate loan defaults. The cut in Malaysia's debt
      Bloomberg  -  317 words
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  • SOUTH-EAST ASIA
    • 451 5 JAKARTA No reason green for dismissals; 2 outsiders and 2 staffers named as replacements AFP Reuters PRESIDENT Suharto has fired four directors of the central bank and replaced them with two outsiders and two people from within the bank, said a presidential
      AFP; Reuters  -  451 words
    • 264 5 MANILA Reuters PHILIPPINE Vice-President Joseph Estrada yesterday formally announced he is running for president under an opposition alliance banner, saying fighting poverty and crime will be one of the planks of his campaign. "We campaign on a platform of genuine social reform, agriculture
      Reuters; AFP  -  264 words
    • 230 5 BANGKOK Measures include dismissal of inefficient govt officials: reports AFP THAILAND'S two million civil servants are facing an uncertain future after the country's Civil Service Commission recommended sweeping administrative changes, reports said yesterday. The commission's "emergency package" contains 37 measures
      AFP  -  230 words
    • 308 5  -  MANILA Exports to STpore swell 30%, imports 20% in Jan-Oct period By, Al Labita SINGAPORE emerged as the Philippines' fourth largest trading partner in this year's first 10 months, the state-run National Statistics Office (NSO) said yesterday. In its report, the NSO
      308 words
  • Page 5 Advertisements
    • 16 5 Citeli whit't news in Cati "*)Kcm\ V }Mr Mist it la U*4»i Classified this JywpA/ [JSJ
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    • 583 5 BOSE Newsletter Bose' provides sound for Hong Kong handover to China Thousands of VIPs were on hand at the stunning. Fireworks valued at $17,000,000 on eight barges with celebration of the handover of Hong Kong from lasers, lights, and a harbour parade of floats, all choreographed to Britain to China
      583 words

  • CHINA-HONGKONG-TAIWAN
    • 549 6  -  HONGKONG Rise doe to farther capital inflows on sharply higher rates for HKsc HKMA chief By i Quak Hiang Whai HONGKONG'S foreign reserves rose another 5.6 per cent to U5596.5 billion (*****.5 billion) in November, Hongkong Monetary Authority chief executive Joseph
      549 words
    • 398 6 SHANGHAI Move comes after central bank meets 15 foreign banks lobbying against tax AFP CHINA'S State Administration of Taxation (STA) has ordered the suspension of a controversial withholding tax to be imposed on foreign banks on interest earned on offshore loans, a
      AFP  -  398 words
    • 148 6 TAIPEI Bloomberg TAIWAN'S export orders received in November fell to a four-month low, as computerrelated companies head for a slow season after posting record orders in October, the Ministry of Economic reported. Export orders last month at US$lO.3 billion (5517.2 billion) were down
      Bloomberg  -  148 words
    • 180 6 TAIPEI Reuters TAIWAN reaffirmed yesterday it was not developing nuclear weapons and had no plan to do so. dismissing a private US study that concluded Taipei could make a nuclear bomb in one or two years if it tried. The Defence Ministry and Atomic Energy
      Reuters  -  180 words
    • 266 6 BEIJING Reuters CHINA will step up scrutiny of state-owned financial institutions to curb risks, a newspaper report said yesterday. The State Auditing Administration has recommended an overhaul of China's trust and investment houses and tighter checks on state-owned enterprises, the China Daily quoted Auditor-General
      Reuters  -  266 words
    • 291 6 TAIPEI Reuters GERMAN giant Bayer AG said yesterday it will consider a new offer to build a US$l.5 billion (552.5 billion) chemical plant in another Taiwan district after suspending plans to build the long-frustrated project in the centre of the island. Stalled by local
      Reuters  -  291 words
  • Page 6 Advertisements
    • 1963 6 1 hxed assets luim|«m Not boot Depreciation THE COMPANY THE GROUP Colt T£ZEm n Hojg 1987 1996 1997 1999 T" I I S T1» Company and Bio Oro*p ASSETS 13SZ Office furniture and equipment 364.942 330,609 34,333 ***** Current assets: Cash 6.438.974 10.166.912 6.470.969 10.193.709 1996 Fixed deposits 4 6,869.714
      1,963 words

  • ASIA
    • 305 7 NEW DELHI His graft trials might force him oat of the race amid calls for ftlflftfi candidfltAg AFP SCANDAL-TAINTED former Indian prime minister P V Narasimha Rao may be ditched as an election candidate by the Congress (I) Party, reports speculated here yesterday.
      AFP  -  305 words
    • 202 7 SEOUL AFP SOUTH Korean presidentelect Kim Dae Jung has pledged an amnesty for political prisoners and others jailed for minor offences when he takes office, aides said. "Kim mentioned the amnesty at a caucus of the National Congress for New Politics (NCNP) to start his work
      AFP  -  202 words
    • 462 7 TOKYO Residents of Okinawa city vote against US military heliport AFP RESIDENTS of a small city in Okinawa have dealt a severe blow to Prime Minister Ryutaro Hashimoto and Japan-US defence ties by voting against the construction of a US military heliport, analysts said
      AFP  -  462 words
    • 326 7 TOKYO Bulging inventories, fewer working days contribute to downbeat forecasts Reuters JAPAN'S industrial production is expected to fall 2.4 per cent in November from the previous month as companies struggle with bulging inventories, an average of economists' forecasts showed yesterday. A
      Reuters  -  326 words
    • 370 7 CANBERRA But they were rapped by Auditor General over travel claims AFP TWO of the casualties of a parliamentary expenses scandal that saw one minister attempt suicide and several more sacked, were rapped in an official report yesterday. But the Auditor General's report cleared
      AFP  -  370 words
  • Page 7 Advertisements
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  • THE WORLD
    • WOKLD Watch
      • 66 9 AFP [BAGHDAD] Iraq called on the United Nations Security Council yesterday to resist US efforts to prevent a lilting of the seven-year-old UN sanctions on Baghdad. Iraq's official press made the call ahead of a Security Council meeting yesterday to respond to Baghdad's refusal
        AFP  -  66 words
      • 45 9 AFP [LONDON] Demonstrators protesting outside 10 Downing Street yesterday against government plans to cut sickness and disability benefits. The protesters smeared paint on the ground and chained themselves to the gates protecting the residence of Prime Minister Tony Blair. —AFP
        AFP  -  45 words
      • 78 9 Reuters [MOSCOW] Boris Yeltsin, worried by problems building up on several fronts in Russia, is determined to return to the Kremlin today after nearly two weeks' treatment for a chest infection. "Tomorrow I'm going back to the Kremlin and to work. There are
        Reuters  -  78 words
      • 73 9 Reuters [GENEVA] The International Commission of Jurists (ICJ) said yesterday that Chinese-ruled Tibet is "under alien subjugation" and called for a United Nations-run referendum to decide its future status. The Geneva-based body, which works to defend the rule of law around the globe, said
        Reuters  -  73 words
      • 77 9 Reuters [TEHERAN] Iran will need to invest US$9O billion (Sslsl billion) in its oil industry over the next 10 years to stave off a decline in production, an Iranian economist was quoted as saying yesterday. Manoochehr Farhang, head of the Association of
        Reuters  -  77 words
    • 217 9 LONDON AFP BRITISH Prime Minister Tony Blair insisted in a newspaper article yesterday that reform of Britain's welfare system will go ahead, and warned that no social category will be exempt from cutbacks. Mr Blair's article in the Daily Mail followed a letter published
      AFP  -  217 words
    • 558 9 WASHINGTON President may have some modest cuts in his State of the Union address next month Reuters DESPITE new data showing the federal deficit falling faster than predicted, US President Bill Clinton will refrain from seeking major tax cuts in the hope
      Reuters  -  558 words
    • 409 9 LONDON Analysts say growth has peaked in this economic cycle Reuters THE British economy grew by 3.7 per cent year-on-year in the third quarter below the previous official estimate of 3.8 per cent, official figures released yesterday showed. Analysts said that 3.7 per
      Reuters  -  409 words
    • 191 10 VILNIUS, Lithuania Reuters LITHUANIANS turned their backs on independence hero Vytautas Landsbergis in Sunday's presidential election, voting instead for two political novices with no links to established parties. Fincil figures issued yesterday showed 44-year-old Arturas Paulauskas, who topped the poll with 45 per cent,
      Reuters  -  191 words
    • 438 10 SARAJEVO Clinton makes one-day visit to political leaders, peacekeeping forces in Bosnia Reuters US PRESIDENT Bill Clinton told the people of Sarajevo and their leaders yesterday they must safeguard peace and pledged to support those who were ready to build a united Bosnia.
      Reuters; REUTERS  -  438 words
    • 343 10 BONN Germany, UK, Italy, Spain clear way for project Reuters GERMANY, Britain, Italy and Spain yesterday signed an agreement to build the Eurofighter. Europe's most expensive and controversial crossborder military project. Defence ministers from the four powers signed two memoranda of understanding clearing the
      Reuters  -  343 words
    • 177 10 FRANKFURT Bloomberg GERMAN inflation indicators showed prices remained subdued in Europe's largest economy, supporting expectations that German central bankers have little cause to raise interest rates. Preliminary West German consumer prices rose 0.2 per cent in December and 1.7 per cent in the year, while producer
      Bloomberg  -  177 words
  • Page 9 Advertisements
    • 4 9 TODAY Zaolxiq ™»Hi Jb&
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    • 115 9 o o MONT BLANC J*** <r In times that are changing J ever faster, we need things which preserve the Meisterstiick Reserve de Marche the finest tradition of Swiss craftsmanship. *§SSi#k. jf? V |r Mr THE ART OF WRITING YOUR LIFE MONTBLANC BOUTIQUES SINGAPORE: N6EE ANN CITY #01-32, RAFFLES CITY
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  • Page 10 Advertisements
    • 159 10 I f > srnmmmmmmmmmm. H HI RR* I K K VI M rrr— IB M~ I f niTj L L K fc V 1^ T| Hfc Ti If I I 1 PI kJ your company on the stock exchange? Thats good news to 1.2 million readers! j rill iihfcjA I
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  • EDITORIAL & OPINION
    • 742 11  -  THE bottomldve OPINION By Ronnie Lim The writer isßT's trade and industry editor ROADBLOCKS and jams are snarling Singapore Inc's go-regional drive, just when the republic and its regional partners should be revving up to tackle an expected investment slowdown in Asia This
      742 words
    • 112 11 'Stocks are failing because of continuing concern about everything.' Nahi chairman of investment policy committee at Wood Struthers Winthrop Management Corp in New York, as US stocks fell at the end of last week amid concern that Asia's economic turmoil will slow growth around the world. 'I
      112 words
    • 645 11 EDITORIAL THE Korean economy is in danger of going into recession and dragging regional economies down in its considerable wake raising questions about the IMF rescue and its associated conditions. The assumption, underlying the conditions wrung by the International Monetary Fund out of South Korea
      645 words
    • 1083 11  -  The EU has come far from a six-nation community 40 years ago bnt there is still much to do yet By: Shada Inlam The writer is a Brussels-based journalist who contributes to BT EUROPEAN Union policymakers are gearing up to tackle three key challenges in 1998: they
      AFP  -  1,083 words
    • 166 11 MAILBOX SINGTEL still charges Singaporeans exorbitantly for IDD calls overseas and there are alternatives like call-back services which provide a much better deal. It is clear that Sing Tel is still currently very much a monopoly and practice monopoly pricing. I am glad that
      166 words
    • 629 11 VarifUßitpiftMMlatM THE GLOBAL war on graft has escalated after 29 developed countries and five developing ones in Latin America and Eastern Europe signed last Wednesday an anti-cor-ruption convention which makes bribery of government officials in international business a criminal offence. The anti-corruption drive is actually part
      629 words
  • Page 11 Advertisements
  • Page 11 Miscellaneous
    • 53 11 DOONESBURY By Garry Trudeau YOU KNOUJ, PEARL, COHEN ICONFE9SI ON& HAP KJERE GROW/N6 UF> HORRJPFEEL/NG97CUARP ffrANPNONEOFTHATfifaucrz* HQtU HATEFUL! WECL.I YOU KJ6XSAUUAYS THE YOU. IWAS SO teßy JEAL- ANYMORE- (&T&JJSTTWO Sts- t YOU'RE SOIL MY PRETTY ONE, POPPYS OUS>, EVEN AFTER YOU TERS ENJJ//N6A OSAUTTFUL THE PRETTY REST. THATS I PAY
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  • FOCUS
    • 1049 12 Despite the 3 trillion yen tax cuts, Hashimoto has ducked a much bigger task FT [TOKYO] He cracked when it came to the crunch. After months of declaring he would never cut tax, Ryutaro Hashimoto, Japan's Prime Minister, finally bowed to Japan's economic gloom and
      FT; FILE PHOTO  -  1,049 words
  • Page 12 Advertisements
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  • EXECUTIVE LIFESTYLE
    • 839 13  -  Despite a good start Titanic's profitability remains in doubt says berkardwexhraub BERNARD WEINRAUB NYT Titanic didn't sink. The most expensive movie ever made, with a budget ballooning past US$2OO million (*****.8 million), the 3-hr-12-min extravaganza was No 1 at the box office in its first
      NYT  -  839 words
    • 328 13 FILMS AFP [NEW DELHI] Film shoots in India's "Bollywood" film industry have slumped by about 70 per cent due to a cash crunch, the Times of India said on Sunday. A report from the western city of Bombay, India's film capital, said there
      AFP  -  328 words
    • 759 13 BOOKS Former ad exec sells millions on strength of wet-hanky tales of mourning and healing NYT [UTAH, Oklahoma] This is the season when the novels of Richard Paul Evans are as popular as shiny ornaments, and the tireless former advertising executive is spreading more
      NYT  -  759 words
  • Page 13 Advertisements
    • 660 13 IN THE MATTER OF THE COMPANIES ACT, CAP. SO AND IN THE MATTER OF PHNG YEN SAN HOLDINGS PTE LTD (INCORPORATED IN THE REPURLIC OF SINGAPORE) NOTICE OF RESOLUTION PURSUANT TO SECTION 2M(2) Al an Kxtraoidinary General Meeting of the members of the abovenamcd Company duly convened and held at
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  • Page 14 Advertisements
    • 318 14 Pentium' IFROCIIIOR EXTREME POWER USERS ONLY. The new ThinkPad 770 isn't just a notebook for power users; it's the only PC Computing called it "cutting-edge technology" and raved about notebook for power users. But why? its "first-rate usability". (Perhaps its 233 MHz Pentium® processor Because it's equipped for the future,
      318 words

  • Page 15 Advertisements
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    • 250 15 —3B— Mantkirin yj Singapore Presenting •m I The Longest Buffet Spread at Mandarin's Annual CHRISTMAS FUNLAND 25 Dec 1997. Thursday 1 lam 3pm «i*n* Mandarin Ballroom Join us for fun fir games with /fIUI Woe Alkaff Call for your tickets f&jphristma* 333, Orchard Road. Singapore *****7. Tel: 737*411 Christmas Eve
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  • Page 15 Miscellaneous
    • 780 15 EXECUTIVE LIFESTYLE TV&RADIO 30 S llivers Travels (Last S2 Ki u. ithL 2.00 PM TV Innovations. 1030 News 5 Tonight. 830 Anugerah 2.30 The Winners. 11.00 Business Day. 1030 Japan Hour Weekly 3.00 Money, ii.m Insights. 330 How To Succeed In Busi 11.45 Law And Order House ILOO Heaven's Coins.
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    • 146 15 CRYPTIC CROSSWORD struct i 26 Information with maximum 6 Engineers ready for over- YESTERDAYS SOLUTION value in Orwell's language haul (5) i i, „i, i, i, i ij ■■nji I (8) 7 Key group taking mad uncle i y*yoyNyE^MEmE DOWN to America (7) 1 Girl and manservant go up 14
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  • Cycle & Carriage Golf Page
    • 1350 16  -  It's no fun having a tournament won or lost on the putting greens, says mickl&us D'CRUZ NICKLAUS D`CRUZ The writer is the editor of the Asian Golf Review HOW fast should it be? How much undulation is appropriate? And really, how large should the cup
      FILE PHOTO  -  1,350 words
    • 810 16  -  Paradise Wirrina Cove in Adelaide offers a challenging game in grand surroundings By] Nicklaus D`Cruz PART of the pleasure of playing golf is the experience of the great outdoors. Golfs roots may be a little hazy but it is clear that, at least in the
      810 words
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  • COMPANIES & MARKETS
    • 273 17 Regional move comes after good response to first STpore outlet [SINGAPORE] Encouraged by good response to its first outlet in Singapore, mainboardlisted shipping and hotel conglomerate Hai Sun Hup (HSH) plans to invest another US$lO million (5516.74 million) to open more Planet
      273 words
    • 433 17  -  By i Carol Eng [SINGAPORE] Sesdaq-bound TSM Resources is offering 26 million new shares at 21 cents each under its initial public offer, of which 5.2 million shares will be available for the public. The marble and granite specialist
      433 words
    • 706 17  -  HOCK LOCK SIEW Meera Tharmaratnam THESE are troubled times for Asian banks indeed. From Japan, South Korea, Thailand and down to Indonesia, corporate defaults have forced closures or threatened the viability of banks and finance companies. The Malaysian financial sector may be the
      706 words
    • 460 17  -  3&25 m tray purely a private investment for my company Intresoorce, he says By. Annette Pan [SINGAPORE] Chay Kwong Soon, one of Creative Technology's founders, yesterday bought a 4.6 per cent stake in mainboard-listed precision engineering company Uraco Holdings for $5.25
      460 words
    • 381 17  -  LKN failed to find suitable buyer for prime hotel site fty< Jennifer Lien (SINGAPORE! After failing to find a suitable buyer for its prime Hotel Equatorial site, developer Lim Kah Ngam (LKN) has formed a joint venture with steelmaker Nat Steel to
      381 words
    • 151 17 AFP (SINGAPORE] Shares in Singapore Airlines Ltd (SIA) closed lower in brisk trade yesterday following the crash in Indonesia of a Boeing 737-300 operated by its subsidiary Silk Air. The local tranche of SIA shares fell to $7.40, down 40 cents, while
      AFP  -  151 words
    • COMPANIES
      • 288 18 Reuters [SYDNEY] Grand Hotel Group Ltd (GHG) said yesterday it planned to offer one of its securities for every 2.79 Australian Tourism Group (ATG) securities under a proposed merger of the two hotel groups. Grand Hotel said it presented its merger proposal
        Reuters  -  288 words
      • 280 18 It plans to sell debt to help fond RMl.5b toll road project Bloomberg [KUALA LUMPUR] Gamuda Biltid shares plunged 25 per cent yesterday amid speculation the central bank may not approve its plan to sell debt to h olp finance
        Bloomberg; Source: Bloomberg  -  280 words
      • 271 18 AFX-Asia Reuters [KUALA LUMPUR] United Engineers (Malaysia) Bhd's toll operator unit, Projek Lebuhraya Utara-Selatan or Plus, has failed to get government approval for its proposed toll hike next year. "The current toll rate will stay next year," Works Minister S Samy Vellu
        AFX-Asia; Reuters  -  271 words
      • 445 18  -  Economic turmoil b lamed for scrapping dual that required B<eijaya Group to srciend RMBOOm From Eddie Toh in Kuala Lumpur THE economic turmoil has ta'Ken its toll on another major M alaysian conglomerate diversified Beijaya Group, controlled by tycoon Vincent
        445 words
      • 169 18 Asian infrastructure firm, individuals take stake in Lanka Bell Reuters [SINGAPORE] Transmarco Ltd said yesterday that Asian infrastructure company AIDEC and certain shareholders would be taking equity in Lanka Bell, a telecommunications subsidiary located in Sri Lanka. Transmarco said in a statement that the participation
        Reuters  -  169 words
      • 225 18 It will pay $210,000 for Marly French Taste acquisition [SINGAPORE! Sesdaq-listed ABR Holdings has agreed to take a 60 per cent stake in pastry maker Marly French Taste (MFT) for $210,000. In a statement yesterday, ice cream parlour operator ABR said MFT owns
        225 words
      • 485 18 Move may ease bad publicity over deal amid judicial inquiry Reuters [BEIRUT] Lebanon's Middle East Airlines has secured better terms for a US$39 million (5565.3 million) contract with Singapore Airlines, a move that could ease bad publicity over the deal amid
        Reuters  -  485 words
      • 229 18 AFX-Asia [SINGAPORE] Hotel Plaza Ltd said the Ass 9 million (5564.3 million) sale of the Parkroyal Plaza Hotel in Sydney to Syndicated Asset Management Pty Ltd has been aborted but a new purchaser has been found at the same price. The original contract
        AFX-Asia  -  229 words
      • COMPANY Briefs
        • 160 18 [SINGAPORE] Orchard Parade Holdings said yesterday it had reaped a net gain of $6.39 million from the sale of certain quoted securities between Nov 26 and Dec 18. It said the sale took place after its last announcement on Aug 21. OPH will account
          160 words
        • 54 18 [SINGAPORE] SMI Hotels Resorts, the wholly-owned hotel management arm of Overseas Union Enterprise, has changed its name to Singapore Meritus International Hotels. The company said its stable of 14 hotels will be marketed as Meritus Hotels Resorts with immediate effect Meritus is a Latin
          54 words
        • 51 18 AFX Asia [SINGAPORE] Parkway Holdings has obtained a US$lOO million (*****.4 million) transferable loan facility arranged by Credit Agricole Indosuez Merchant Bank Asia. The loan will be repaid 24 months from the date of the facility agreement It will be used to refinance existing borrowings.
          AFX Asia  -  51 words
        • 127 18 Bloomberg [SINGAPORE] First Engineering, a maker of precision electronics components, said profit for the first half ended Sept 30 surged 83 per cent on improved efficiency and reduced costs. Its profit rose to $1.56 million, or 22 cents a share, from $854,000, or 12 cents
          Bloomberg  -  127 words
        • 87 18 Reuters [KUALA LUMPUR] Malaysia's Time Engineering Bbd said yesterday it has decided to defer until further notice the listing of subsidiary Time Telecommunications Bhd on the Kuala Lumpur Stock Exchange in the light of prevailing market conditions. Time had said in September its telecommunications
          Reuters  -  87 words
    • REGIONAL/INTERNATIONAL COMPANIES
      • 233 19 Bloomberg [SYDNEY! Australian Mutual Provident Society yesterday said it appointed three managers to assist with its public listing on the Australian Stock Exchange next year. In a statement, Australia's largest money manager and life insurer said merchant banks ABN-Amro Rothschild, Cazenove Australia, and
        Bloomberg  -  233 words
      • 582 19  -  HKs6oom-s7oom plan aimed at gearing np for next boll run, says exchange's head From Loh Hui Yin in Hongkong DESPITE the current market downturn, the Stock Exchange of Hongkong is pushing ahead with multi-million dollar plans to gear up for the next bull
        582 words
      • 251 19 Bloomberg [HONGKONG] Lai Sun Development Co said it is considering selling down its 99.48 per cent stake in Furama Hotel Enterprises Ltd to maintain the latter's listing status, or privatising it. A final decision has yet to be made. The medium-sized
        Bloomberg  -  251 words
      • 138 19 Reuters [TOKYO] Japan's Daiwa Bank Ltd and IBM Japan Ltd, a unit of International Business Machines Corp, said yesterday they had agreed to set up a financial information system joint venture. The companies said that the bank will out-source operation of its information systems
        Reuters  -  138 words
      • 308 19 Stake profitable but not core business, says bank Reuters Bloomberg [HONGKONG] The Hongkong and Shanghai Banking Corp Ltd said yesterday it completed the sale of a 5 per cent stake in Hong Kong International Terminals Group (HIT) to HlT's parent Hutchison
        Reuters; Bloomberg  -  308 words
      • 355 19 AFX-Asia [MELBOURNE] The Australian Securities Commission (ASC) has confirmed that it is investigating whether Crown Ltd should have disclosed to the market details of its financial situation before Friday's announcement that it required a Asl46 million (Ssls9 million) bail-out, the ASC said.
        AFX-Asia  -  355 words
      • 298 19 NCC sells half its real estate to Morgan Stanley, 6E Capital FT [STOCKHOLM] NCC, one of Scandinavia's largest construction companies, has agreed to sell nearly half its real estate portfolio for 3.02 billion Swedish kronor (Ss64B million) to a joint venture formed by Morgan
        FT  -  298 words
    • FINANCE & COMMODITIES
      • 589 20  -  Official trading will start on Jan 20, provided securities laws are changed Front Bruce Cheesman in Taipei TAIWAN'S problem-plagued futures market delayed by more than 10 months because of fears by legislators that derivatives were too risky for Taipei's volatile main bourse began mock
        589 words
      • 230 20 New name will probably not have KPMG or Ernst in it NYT [NEW YORK] The partners at KPMG Peat Marwick have voted overwhelmingly to merge with the partners at Ernst Young, creating what would be the world's largest accounting and consulting firm. The vote
        NYT  -  230 words
      • 266 20 Bloomberg [TOKYO] Yamaichi Finance Co said it will start negotiations early next month to sell its lending and venture capital fund management operations to Cargill Inc, a closely held US grain and food processing company. "We will ask Cargill to hire employees working for
        Bloomberg  -  266 words
      • 298 20 FT [LONDON] Regulators in four European countries are investigating a brokerage that has ceased operation after selling US over-the-counter shares to investors around the world. The probe is into Bathgate, Dreyfus Pierce (BDP), which is also the subject of a criminal investigation in
        FT  -  298 words
      • 242 20 SIMKI Report Reuters (SINGAPORE] Simex Euroyen futures tracked well-worn territory yesterday as pre-holi-day apathy dampened interest despite a huge drop in Tokyo's Nikkei Average. 'The volume was extremely light today. In the morning, not even 1,000 lots were traded in the front four months," a
        Reuters  -  242 words
      • 159 20  -  MSCI TAIWAN FUTURES By Perry Gilbert Perry Gilbert, vice-president, Refco Singapore Pte Ltd [SINGAPORE) The Simex MSCI Taiwan Stock Index futures eventually succumbed to the Asian equities markets' gloomy scenario yesterday after posting early gains. The technology sector suffered towards the later
        159 words
      • 259 20 ENERGY REPORT Reuters [LONDON] World oil prices slipped back towards 22month lows yesterday as sluggish winter demand and an imminent resumption of Iraqi oil exports renewed pressure on pre-Christmas markets. Oil prices have fallen 20 per cent over the past couple of
        Reuters  -  259 words
      • Article, Illustration
        1434 20 DfTBRBAMX CROSS RATES lM 22 p M C$ ft* ECU Fft Vw «M gSNfcto N» Mr IT* *+t Hm* K$ Australia 0.935 4178 0.587 3.890 1162 5.055 ***** 33.661 OJSt 1185 2208 1129 28.779 26.185 1013 3.172 0.938 ***** 29.454 0292 0.652 i-%! 17W 0 tt7 481 1242 1404 27.298
        1,434 words
      • 282 20 Reuters liondon THE US dollar remained on an uptrend at yesterday's midday session, after having started the day ofF with a marked rise thanks to a new drop of Asian markets, dealers said. The dollar was up to 1.7812 marks against 1.7803 in the morning and 1.7673 on
        Reuters  -  282 words
    • 1661 21 81C0M FUTURES Dec 22 MMCt Mm daabf «t SJOpa) «SS 1 CWmiACftS ctrtsA*) ClOM VdHM Opoff MowtA Wgb Low S*tt (ton—«) Mrtrwt Jw96 120.00 70 NA96 K155 TOO Mr Ml 122.25 595 SJMW 127.25 126.50 127.25 (00 ***** Stp 96 0175 2145 Dk 98 135.00 150 4500 RSS
      1,661 words
    • 1635 21 AFP QNikkei 225 -HM> SHARE prices slumped to a 30-month low yesterday on mounting concerns over the economy, the crisis-struck banking sector and future bankruptcies, brokers said. "The fall in Nikkei underlined ongoing uncertainty over the Japanese economy, particularly its financial system," said a trader. The 225-share Nikkei Average
      AFP  -  1,635 words
    • 2297 21 mm w* ok 22 hiesbiab 34 Group 500 -3 AB Ports 300 unch Abbay National 1040 24 AMad Domacq 514 4 A mac 118 unch Asda Croup 176.400 -L200 BAT md 539 -7 BG PIC 275 -5 BtCC 161.400 1.400 BOC Group 965 *4 BRPatrolaum 799 -5.400
      2,297 words
    • Article, Illustration
      1571 22 AFP Q Hang Seng -23X34 HONGKONG share prices dropped 2.2 per cent yesterday as investors locked in profit, taking their cue from the bearish sentiment on the Tokyo and US markets, analysts and dealers said. "It has been a very vicious circle. First, Wall Street falls and Tokyo follows.
      AFP  -  1,571 words
    • Article, Illustration
      674 22 Reuters n Shenzhen B Index -L 33 SHENZHEN'S B share market ended at a new 1997 closing low yesterday, driven down by sharp falls in China Bicycle. The B Index slid 1.33 points to 93.95. The previous 1997 closing low was 94.93 points registered on Dec 2. Turnover was
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  674 words
    • 394 22 AFP □wp Index -6024 STOCKS fell yesterday as a late burst of profit-taking wiped out early gains, with sentiment hurt by the International Monetary Fund's decision to slash global growth forecasts. "Investors turned conservative after the IMF report, while talk on possible devaluation of the Hongkong dollar and the
      AFP  -  394 words
    • 254 22 Reuters □Wellington jg SHARE prices ended almost unchanged yesterday after weakening earlier in the session but trade was starting to thin out before the Christmas holiday. The NZSE-40 Capital Index was off just 0.33 of a point at 2.300.62 on turnover worth NZ$76.O million. Reuters p»c« COOOt 10.80 -0.20
      Reuters  -  254 words
    • Article, Illustration
      844 22 AFP □SET Index -&30 STOCKS closed 2.1 per cent weaker yesterday after Moody's downgraded the country's debt issues to "junk bond" status, dealers said. The baht reversed gains made last week, falling back to 47 to the US dollar and hitting 47.12-22 by mid-afternoon before closing 2.5 per cent
      AFP  -  844 words
    • 431 22 AFP kJ Composite Index -4J3 STOCKS fell yesterday, with institutions seeking cash and the falling won pushing the index into negative territory late in the session. Dealers said the volatility of the financial market as a result of the weak won and rising money market rates also weighed on
      AFP  -  431 words
    • 587 22 AFP D All Ordinaries -24.7 STOCKS fell yesterday, pulled down by Wall Street's bearish week-end performance and declines on the Tokyo and Hongkong markets. "Poor overseas performances had a negative influence throughout the day," said a broker. The All Ordinaries Index fell 24.7 points to 2,503.4. Turnover was 237.5
      AFP  -  587 words
    • Article, Illustration
      747 22 AFXAsia Composite Index +7.05 JAKARTA share prices closed higher yesterday despite the mass ratings downgrades by international ratings agencies and the unexplained sacking of four Bank Indonesia directors by President Suharto, dealers said. The JSE Composite Index closed up 7.05 points at 385.85 on turnover of 387.23 million shares
      AFXAsia  -  747 words
    • 295 22 AFP o Manila +28JNJ SHARE prices rose 1.6 per cent yesterday due to year-end window-dressing, analysts said. "There is still some window dressing going on. The 'Santa Claus effect* always works," said a trader. The PSE Composite Index rose 28.96 points to close at 1,887.18. Turnover was 788.7 million
      AFP  -  295 words
    • KUALA LUMPUR STOCK MARKET
      • 502 23 AFX-Asia CI Composite Index -8.93 STOCKS fell yesterday on news of Moody's and Standard Poor's ratings downgrade on Malaysia. However, local institutional support brought share prices off their lows. The KLSE Composite Index lost 8.93 points at 569.83 on turnover of 166.4 million shares worth
        AFX-Asia  -  502 words
      • 8971 23 INDUSTRIALS CtnswMf products f* 97 Last Vol Day Not Cap MH> low Ciwpany »ato OOP High Law P/I $mll T90 220 230 -10 9 231 230 12.7 93.2 448 112 Angkasa 114 -7 16 120 H2 2.6 168.1 905 210 Apollo Food Hlg 230 -KJ 2 230 210 6.7 92.0
        8,971 words
    • WARRANTS & OPTIONS
      • 213 24  -  WARRANT WATCH By Ven Sreenivasan THE warrant of Keppel Land was one of the few which managed to stay in positive territory yesterday as the broader market continued to head further south. The instrument, which expires in December 2000, ended 0.5 cent higher at
        213 words
      • 3540 24 SOMOS, LOANS i WARRANTS wt *997 Last Vol Day L*st Owata Avg High L*« St no Company lata *ar- COOO) Hlgfc Law Buyar Sadar Prka 68 n WW ■mMrtWUOiait I I I 105 81 13 3160 "Acar ******1 US$ 13 uncti 29 13 13 12.5 13 131 21 3164 Ac
        3,540 words
    • 2196 24 Of Or w LMt Vol Day Last Quota Mv 0I» VM Nat M Cap High Laor Stno Company Soto COOP) Hm> Law Buyar Sa8ar Cw P/l $W 478 453 mi 5000 AIS8 50c 47.5 Cd -8.5 166 55 45.5 47 48 5 0 33 23 19.2 48.7 137
      2,196 words
    • STOCK EXCHANGE OF SINGAPORE
      • 1264 25 TUWOVO f000) VALUE £000) cm Tttt mm o» t<ui jndwbw 66.185 **n 83,156 MXM3 8.489 m782 finww 9,287 8,542 17*21 80.037 5.543 IUM HtWi 2.524 334 a Ml >r«6 M *93 IUM UH HUM 38J07 37*8 SET" T S 7 2.0*3 7,401 9,4«4 503 V3M Vt21 I** »U67 41.845 133,112
        1,264 words
      • 4220 25 .T LMt V* Day Last Oust* DN Wv YW Net Cap A™ Hi* L«« StNo Company Sate COOO) High Law Buyer SMar Of P/E Smil Price IIHHftTWMtf 157 26 1020 ACE Dynamics60c 27.5 -13 35 30 27 26.5 27.5 22 5 28 5146 ASE NT$10 200 OS- 885
        4,220 words
      • 673 25 Ht _h'" 7 L stH w L—tO«wt. M« YM MM cZ "I L> ,,M rOOO) MM» LM> tvyw Mw Cw */t (mN Mn SESOAQ ®Wk». W m W. 5k"*;' StXV tii i-ii' $C *•6 76 t 2000 AMHMQB5C 135 -J 14 137 135 111 m ia aa a M
        673 words
      • 216 26 Stocks VafcMM Uraco HWqslOc 15.572,000 SingTel 15c 6,627.000 MS Land 5.421.000 STEngglOc 4.648,000 *MBf Capital 4,541,000 *RH8CapWt99 4,114,000 SIA Foreign 3,720,000 *M Resources 3,265,000 Hotung Inv NTS 3,014,000 (KJB Foreign 2,556,000 Stocks SW Foreign 40,869,072 SPH Foreign 27,047,214 D8S Foreign 26,696,041 SingTel 15c 20,640,567 OUB Foreign 16,329,296 U08 Foreign 15,033,961
        216 words
      • Article, Illustration
        65 26  -  -fry Ven Sreenivasan SIA FOREIGN, which JeU 30 cents to 110.80 yesterday in the wake of last Friday's SUkAir plane crash, has support at the f 10.50 level and upside resistance at $11.50 The RSI is in neutral zone and the technicals indicate that the counter is set
        65 words
      • 688 26  -  STOCK MARKET COMMENT AST Market sentiment shaken by Silk Air plane crash, falls in New York, Tokyo, Hongkong, and S'pore's lower-than-expected November trade figures Hi/ Ven Sreenivasan [SINGAPORE] All key market indices here ended lower yesterday, with investor sentiment shaken by
        688 words
      • ON THE GRAPEVINE
        • 115 26 'TIS the season of good cheer and that time of year when heaps of Christmas cards, diaries and calendars cross a journalist's desk. But the volume of such cards and diaries has lessened this year, no doubt due to the bearish economic climate. This has
          115 words
        • 70 26 PR CONSULTANTS Bentley Communications' Christmas card tells recipients that the firm will be closed from Dec 24 to Jan 4, but if clients find themselves "in dire circumstances phone and pager numbers of three Bentley staff are listed on the card. But the card suggests that
          70 words
        • 91 26 CANON just sent us a press statement introducing their latest BJC-7000 bubble-jet printer, together with a water gun. The press statement is to announce Canon's water-resistant seven-colour inks. And the gun is to test it out. For shooting practice, the Japanese giant also sent us print-outs
          91 words
        • 75 26 TAT LEE BANK of Singapore has increased its stakes in two Malaysian-listed plantation companies linked to its chairman, Goh Eng Chew. The bank now owns 650,000 shares or 1.17 per cent of Chin Teck Plantations, and 115,000 shares or 0.4 per cent of Negri Sembiian Oil
          75 words
        • 101 26 IN BUDGETING for production costs, many industries and companies take into account rising prices for goods and services. The film industry in Hollywood is no exception. Apart from production costs in making films, Hollywood also takes inflation into consideration in their films. For example, in the first
          101 words
        • 82 26 THIS paper's Hongkong correspondent was invited to a year-end party hosted by Chief Secretary Mr* Anson Chan last Thursday. The bash was held at her official residence at The Peak. Witha bit of pomp, she instructed the cab driver to take her to Mrs Chan's house. The cab driver
          82 words
        • 76 26 ALTHOUGH financial services group Jardine Fleming scorched rumours last week about massive layoffs, it has confirmed that it is letting go of its six-vessel fleet. The fleet is used for entertaining clients, the press and families of staff. A Jardine Fleming spokesman said: "In these austere circumstances,
          76 words
  • Page 17 Advertisements
    • 69 17 B This announcement appears as a matter of record on ly. [H I S3 DBS LAND I I DBS LAND LIMITED I I *****,000,000 I I FLOATING RATE NOTES DUE 2002/3/4 I H (with greenshoe option for a further S$200,000,<300) H M Arranger Lead Manager I CREDIT AGRICOLE INDOSUEZ MERCHANT
      69 words

  • Page 18 Advertisements
    • 209 18 We provide consultancy services on offshore structures, shelf companies and incorporations in ALL jurisdictions, including British Virgin Islands Mauritius Cayman Islands Hong Kong Bahamas Western Samoa Full nominee, management, corporate secretarial and professional administration services are available. We specialise in offshore trusts, offshore banks, and captive insurance companies l:or qualified
      209 words
    • 26 18 (Ojk I mm ■■I umelot I I I Orchard Road #()2-12N N*:cc Ajiii iiy lakashima)a Shopping cniiv By Singapore *****2 Ich 732 5012 Fax? 737 If>32
      26 words

  • Page 19 Advertisements
    • 345 19 I A WEEKLY SUMMARY OF I HOME NEWS I AT YOUR FINGERTIPS The Straits Times Weekly Edition brings you a crisp C- s B summary of the week* rnsjar happenings in Singapore and I '11 i M jjaS" to to '•fltoa CoMßring news from social issues, poßScs, business, career opportunities
      345 words
    • 46 19 MHk AA £7 MB fluT Singapore's one and only duck restaurant at Hotel Negara An unforgettable dining experience of exciting duck dishes set against rustic beauty. NEGARA Hotel Negara, 10 Claymore Road, Singapore *****0 Tel: 737 0811 I.HV-— (Hotel Negara is located behind Orchard Towers) oocxvKuvnmmuMM
      46 words

  • Page 20 Advertisements
    • 103 20 v THAI VILLAGE SHARKSHN RESTAURANT PTE LTD Main Branch: 26 Amber Close #01 -00 Sea View Hotel, Singapore *****4 Teh 440 8251 Fax: 440 0748 Kaliang Branch: 50 Stadium Boulevard #01-01 Oasis Building, Singapore *****6 Tel: 440 2292/ 440 8257 Fax: 440 7285 East Coast Branch: 225 East Coast Road,
      103 words


  • Page 22 Advertisements


  • Page 24 Advertisements
    • 32 24 7 ALFRED DUNHILL i ll The New ad 2000 Carbon Fibre Fountain Pen VISIT ALFRED DUNHILL AT RAFFLES HOTEL ARCADE, THE PARAGON, NGEE ANN CITY, SOGO RAFFLES CITY AND DAIMARU LIANG COURT.
      32 words

  • Page 25 Advertisements
    • 136 25 I would like to know more about Hong Leong Finance I Singapore Finance Free Gifts and Lucky Draw Promotion. mi |THE ONLY SURE THING I I 111 I ON I HIS Please send to: Hong Leong Finance Ltd, W|B||M fII MM* M fl I Promotions Development Department, |H If 470
      136 words

  • Page 26 Advertisements
    • 365 26 BUSINESS Notices NOTICE NAKORNTHON BANK acting through its Cayman Islands Branch Negotiable Floating Rate United States Dollar Certificates of Deposit due in June 1998 In accordance with the provisions of the Certificates of Deposit, notice is hereby given that for the Interest Period from 23 December 1997 (inclusive) to 22
      365 words
    • 364 26 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF GARRINGTON PTE LTD MEMBERS' VOLUNTARY WINDING-UP At an Extraordinary General Meeting of Garrington Pte Ltd convened and held at Rooms 1102-5 TAL Building 40 Austin Road Kowloon 1 long Kong on 18th December 1997, the following
      364 words
    • 273 26 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 80 AND IN THE MATTER OF CEMENTBOUW FAR EAST PTE LTD (IN LIQUIDATION) Extract of th« Minutes of an Extraordinary General Meeting of the Company held on the 13th day of December. 1997:- SPECIAL RESOLUTIONThat the Company be wound up voluntarily pursuant
      273 words
    • 1133 26 To advertise call toll-free 1800-741 1883 M—gcrfatCTi|n JO NGO HOCK NOMINEES (PRIVATE) LIMITED (lacorpomed in Swgapore) SPECIAL RESOLUTION Al aa Extraordinary General Meeting of Ike members of the abovenamed Company, daly convened and held al 61 Greenleaf View Singapore *****0 on IM December 1997 the following Special Reaolutioa was daly
      1,133 words
    • 374 26 at Manar at at Caapaan Aa Ct* J» LOW MENG CHAY ft SONS (PRIVATE) LIMITED (lnmpuiafcd h Singapore) SPECIAL KESOLUTION At aa Extraordinary General Meeting of the aaembeis of the abovenamed Company, dnly convened and heM at 1 Greenleaf Grove Singapore *****6 on 18th December 1997 the following Special Resolution
      374 words
    • 384 26 M THE MATTER OF THE COMPANIES ACT, CHAPTER SO AND M THE MATTER OP SCOPE TECHNICAL SERVICES PTE LTD (In Vbluntary Liquidation) At aa Extraordinary Geaeral Meeting of the members of Scope Tedtaical Services IV Lid duly convened nnd held nt 6 Waa Lee Road Singapore *****7 oa 17 December
      384 words

  • SHIPPING TIMES
    • 326 27 Bridge News Reuters FREIGHT rates continued to drift lower as the holiday season fast approached with prospects looking gloomy the first quarter of next year, brokers said. There were said to be very few Panamax cargoes available for prompt shipment in the north Atlantic. The little volume that
      Bridge News; Reuters  -  326 words
    • 289 27 e*zz CWT Distribution 0.72 -0.03 Chuan Hup 0.57 unch Cosco Irwastmant 0.75 unch 30 Fraight Links 0.31 -0.015 118 GB Holdings 0.31 H« Sun Hi* 0.725 *0.025 252 Hitachi Zomti 0.58 -0.02 155 IMC Holdings HK 5.6 Jaya Holdings 0.39 Jurong Shipyard 8.50 unch 2 K appal Corp
      289 words
    • 412 27  -  Shippers set to benefit from slot-charter agreement By\ Marcus Hand [SINGAPORE] China Ocean Shipping Co (Cosco) and KLine have extended their alliance with a slot-charter agreement on the trans-Pacific trade. The space-sharing agreement will give Cosco a direct, weekly service from Southeast Asia
      412 words
    • 265 27 [SINGAPORE] The newly enlarged Grand Alliance is concentrating heavily on the Asia-Europe trade in its new schedules announced for next year. Former Global Alliance member Orient Overseas Container Line (OOCL) and Malaysian International Shipping Corporation (MISC) joined the Grand Alliance at the beginning
      265 words
    • 201 27 Reuters [LONDON] Container shipping rates appear to have stabilised but are expected to remain under pressure as new shipping capacity is delivered, said Lazard Freres Co. The US investment bank said it saw the recent freight market decline bottoming out during 1988,
      Reuters  -  201 words
    • 331 27  -  By\ Marcus Hand (SINGAPORE] The picture above may look like the interior of a five-star hotel, but in fact it is the lounge of Star Cruises' latest addition to its fleet, the luxurious MS Europa. Over the last 10 days Star Cruises has
      331 words
    • 1092 28 AXR CARGO Air cargo firms have been forced by the currency turmoil not just to raise rates but to make their peak periods longer Journal of Commerce WITH economists needing tarot cards to predict the next downturn in Asian currencies or how long it will
      Journal of Commerce; REUTERS  -  1,092 words
    • 258 28 PAGE ECL 5 ML i EES 8 ANl 3 Accord a EurohiM 6 AooensWo 5 6 A 3 Famous Austral 9 Foong Sun 8 BS A T j Gamartrans 8 7 GW,hW 9 Gotten 4 8 tang Mai 8 ccm > CuanGuan 4
      258 words
    • 25971 36 EXPORT ETA ETA Advertiser Vessel Voy»ge Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Dest'n Name Name Number Number SIN Oest'n Name Name Number Number 0V01 23/01 Evergreen NUOVA LLOYDIANA 3-OMW 65-*****11 A 02/01 22/01 COSCO NAXIHE 0003W 65 *****00 T- lain IAU /AB It 05/01 21/01 Hyundai
      25,971 words
    • SHIPS IN PORT
      • 676 41 Vessel Voy No Berth Arrtvel Peperture Arttts light *9705 J05 tkmgiiM 22.12/0900 M Mm *****7 J01 iiongsida 22.12/1330 St GoUtn *****7 J01 iMngsid* 22.12/1400 St Mm Gti S7 *****7 J01 HongiiM 22.12/1900 St Nanl *****7 J01 ilongnd* 24.12/0700 St Sur Ml *****7 J01 ilongsid* 22.12/1700 CUpp*r Ml 3
        676 words
      • 1690 41 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Booklng/Balanc* litis Ship V»y No Etb/Btr Portod from To From 004 22/12M I* 2VBM fl/1459 2V8M toMnm 005* 21/0700 u ivwo 2V8M ivSoo 21/1900 2VH59 2V8M U 2V17M 22/0499 22/0(00 21 21/1700 22/0499 22/0(00 1 22/0700 ami 22/MOO 4 22/1200
        1,690 words
      • 188 41 Dae 23 Japan: Emperor's Birthday. DM 34 Austria, Bulgaria, Czech Republic, Denmark, Finland, Germany, Luxembourg, Portugal, Slovakia Sweden: New Year's Day. Switzerland: Christmas Eve. Dm 28 Albania, Andorra, Angola. Argentina, Austria Australia: Christmas Day. Belarus, Bolivia, Brazil, Bulgaria Belgium: Christmas Day. Brunei: Christmas Day. Cameroon, Chile, Colombia, Congo.
        188 words
      • 858 41 THIS report, compiled by Cockett Marine OU Ltd. Ihowi price rangee In US dollar* instead at single prlcee for a more comprehensive description of the market. Price* shown are baaed on sverage-elsed stem. Market movements are Indicated. The Cockett Bunker Price Index change and the individual
        858 words
      • 358 41 180 Maa 989.8 12 15.4 0.10 50 0 02 P*18 PwWty Water HtMw Art Mljw Udl—t Ho »t>ovt £25 0 1 0 0 0 MO AM 984.6 0J 12.1 0.06 J4 0.02 ■Mfi «>/» mm M0 MM 991.6 0.4 T7.4 0.U 63 0.06 SS2 2JS —No
        358 words
    • AIR & LAND TRANSPORT NEWS
      • 472 42  -  If approved, tripartite affiance will be the largest of its kind in Asia- Pacific By) Felix Chan [SINGAPORE] Singapore Airlines, Australia's Ansett and Air New Zealand have collectively applied to Australian antitrust authorities for their proposed tripartite alliance. The airlines lodged an application
        FILE PHOTO  -  472 words
      • 328 42 AFP [JERUSALEM] Just days after deciding to purchase five USmade Boeing airliners, Israel's state airline El A 1 is considering a major purchase from Boeing's European competitor Airbus, the Haaretz newspaper said yesterday. El A 1 general manager Joel Feldschuh
        AFP  -  328 words
      • 370 42 Problem not related to flight safety but last-minute change in aircraft cabin design Reuters [WASHINGTON] Boeing Co, the world's largest commercial aircraft maker, drew criticism from US regulators for having an "out of control" inspection process, according to a letter released late last
        Reuters  -  370 words
      • 322 42 AFP (BEIRUT) Lebanon's central bank said on Sunday it has extracted a new deal from Singapore Airlines (SIA) for the leasing of three aircraft by Middle East Airlines (MEA) after allegations of fraud over the contract. The agreement, signed in London on Saturday,
        AFP  -  322 words
      • 251 42 Reuters [ZURICH] Swissair, the airline unit of SAirGroup, has announced a fleet renewal programme in which it plans to spend a net 2.1 billion Swiss francs (552.4 billion) on Airbus jets. Swissair said the programme calls for it to replace its current mix of
        Reuters  -  251 words
      • 308 42 AFX-Asia [SYDNEY] The price of air travel is expected to rise as a direct result of the Asian currency crisis, the American Express Asia Pacific Airfare Index said. The index said airfares will rise next quarter with increases of up to
        AFX-Asia  -  308 words
      • 1745 42 an fucff tu ruaw on wt<i bus A MM Of81 1930 0f82 2050 Hat Tal TG407 1540 TG408 1645 $0229 2220 *8895 2150 W896 W5_ Amsterdam $0327 0610 KLS44 0125 Ho CM Minn VN741 1310 VN740 1410 GA995 0945 *1838 2335 S0173 1905 S0174 1415 K1837
        1,745 words
  • Page 27 Advertisements
    • 29 27 Air cargo carriers forced to raise rates They have been forced by the currency turmoil not just to raise rates but to make their peak periods longer. Page 2
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    • 288 27 People Edwin Khoo has joined Singapore- Captain Peter Bryan has been based Pentanum Global appointed deputy secretary-general of Corporation as a director overseeing the Missions to Seamen, an the company's newly set-up international welfare organisation container leasing division. Mr Khoo caring for seafarers worldwide, was formerly the regional general Japan
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    • 142 27 SIA- Ansett-Air NZ alliance applies for Aussie approval If approved, tripartite alliance will be the largest of its kind in Asia- Pacific. Back Page fefe- er- R D -Ai R LESS #v-. :A v *SP JM 's^g-i 3?w^Sf•,? t^^ §&■services to help make history. Today, too, on a worldwide scale
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  • Page 28 Advertisements
    • 772 28 nmamazomti iiws4i io/il 5/ii zs/it m bammammy iii 19/11 11/12 n/12 is/is 91/91 M/ 91 m/ii 3P LMOSUY 17W549 11/12 IS/12 01/01 OtIAIMY 211 N/12 07/12 00/12 12/12 U/12 22/12 M/ 11 NOTUMAIGUMMT! ISWS49 U/12 22/12 00/01 H NTIVmO 021 12/12 14/12 IS/12 19/12 M/ 11 21/12 M/ 11 Ml
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    • 497 28 ft lAL Container Line (UK) Limited 4s- Murine Transport Resources (SI Pre Ltd Tel 223 8380 F.»x 223 8387 "Merry X'Mas... To All." Weekly to the Indian Sub-continent and Middle Eitst ■•PL ,<■%. 352. 71 rSJ >W r S EXPORT 3 x Jopon -2 x Hongkong -1 x x Kooihtung,
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  • Page 29 Advertisements
    • 1093 29 PACIFK SOUTH WEST EXPRESS (DIRECT)-ALSO ACCEPTING MAHAUSVULAX/HOU Ivtssa I voy I m Isara Ismeip lum| pi xihw a* mtc «i hou nor m AftCHHA 0231 22/12 24/12 25/12 09/01 13/01 14/01 14/01 15/01 15/01 14/01 14/01 14/01 AftSHGAPOEi 01* 29/12 31/12 01/01 16/01 20/01 21/01 21/01 22/01 22/01 21/01 21/01
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    • 2466 29 HANJIN SHIPPING USA CANADA* h» vsi/voy oam Isw sa |nw l pin pdx m |w w oos on »o» |rw m nyc rv» tk m hi m is. chamot un m/» m/» 14/01 i7/oi u/oi 10/01 19/01 19/01 m/oi 71/01 »i/oi ai/»i 71/01 77/01 74/01 u/oi "io/oT" ai/oi "m/oT" m/oi
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  • Page 30 Advertisements
    • 945 30 rr DSR-SENATOR ill Round the World Container Services NEW FASTER VESSELS NEW ROUTING TWICE A WEEK LE HAVRE 17 DAYS ROTTERDAM 18 DAYS HAMBURG 20 DAYS FELIXSTOWE 22 DAYS NEWSHIP AGENCIES PTE LTD SINGAPORE: TEL: *****0 FAX *****30 TLX RS ***** FOR ENQUIRY/BOOKINGS: JENNY/LAY CHOCVCATHERINE *****44/4043 PORT KLANG: SESARAN MALM
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    • 1172 30 MY RWUNKjI to //*»ww-y»»«Lcoin.tw &1A tfcit jUU4* Ik V <1 rmnTTwrrmTmAmmiimM&viMmivmiiiiiuimmiu.vnAM AW«W RHDdaytuesoay VESSEL *0Y LEH FXT HAM AMR HFA SIN MALACCA BRIDGE 89/A744E SLO SLD SLO SLD SLO 23/12 MING STAR 02/A745E SLO SLO SLD SLO 16/12 30/12 MING GALAXY 99/A746£ 10/12 11/12 13/12 15/12 23/12 06/01 MING SUN
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    • 634 30 LINE Tlit SIBI3II FAXt *****37 1 MUARA 1 LABUAN 1 vissa vot no iu vtssa vot nt ra SfOtf lIUU SFOM IM jtPKKFB V3OI/17 SU> 8/12 intosra V3K/07 su> 20/12 afhigukt vss/v; a/12 30/12 afuguxt vm/v 20/12 31/12 AFUGUXT VOIE/W 04/01 01/01 JFtOSFB V3IE/«7 04/01 os/oi J.FOOSFB VOIi/W 12/01 11/01
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  • Page 31 Advertisements
    • 1441 31 I VESSEL VOY SIN BKK POU PKO PgN BLW SUR BA I BIK 1 IRAN MOBIN PJL-1262 ***** 11/12 13/12 IRAN VAHOAT PJL-1265 28/12 04/01 ACCEPTING CONTAINER/BREAK-BULK SHIPMENTS TO INLANO POINTS IN IRAN CIS COUNTRIES I.E. AZARBAIJAN, ARMENIA, KAZAKHSTAN, UZBEKISTAN, TURKMENISTAN. KIRGISTAN, TADZHIKISTAN GEORGIA VIA B. ABBAS, BIK AGENT IN
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    • 1860 31 COMPLAINT HOT-LINE 1 TEI» *****35 f\ SINGAPORE'S GENERAL AGENTST 6 SHENTON WAT TO: 226 1900 FAX: *****08 OUTWARD (B/L) *****02 JONORE OFFKECOSTAR SHIPPING PTE LTD fiz-ot o«s hoc saus/bkgs *****41/43 inward dipt (d/ 0) *****85 COSTAR AGENCIES (M) SDN BHD CHNO: **********0W TOWK TWO (*****9) CONVENTHHUL *****50/55 T/SHPMT DtPT *****25
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    • 585 31 •jbsn EASTERN CAR UNER, LTD/^^r 1 I EQ (SINGAPORE) PTE lIP SSTISSL lT I SPtqAIJZI IN ROWO 4 heavy lift UPTO 122 TOWS ECI (SINGAPORE) PTE HO LOADING FOR YANGON PORT KLANG/KUChMNG/MUARA/ MV "COSMIC CHALLENGER" V.56 KOTA KINABALU ETA SIN 23/12/97 MV "OCEAN BLUE" V.50 ETA YGN 28/12/97 ETA SIN
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  • Page 32 Advertisements
    • 1311 32 EUROPEAiK/SCAMPIWAVIA/FIWIAMD/RUSSIA SGP ROM ANW HBG THP ZEE LHV LHV THP ROM ANW HBG PKL SGP I RESULT RW-017 17/12 18/01 21/TI 17/01 19/81 2MI 21*1 E GLOWING RE-M2 28/11 27/11 21/11 01/12 2V12 E. ROYAL RW-03S 03/11 23AM 28/TII 24/01 28/tl 27/01 2MI E GAINING RE-001 02/12 04/12 03/12 85/12
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    • 973 32 m, A« MAC-NELS S PORE M'SIA Carrier: MN CONTR LINES, INC 1 IVvV J <*»"0» **********0 C SI BU (064) *****9 MANILA: (832) «*****1 V w PENANQ; (04) *****36 BANGKOK: (662) *****67 SURABAYA: (31)*****0 P. KELAWQ: (03) *****77 JKT: (21) *****07 MON: (61) *****3 PUSAH USA/JAPAN MV "EUROPEAN EXPRESS" V.I6N
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    • 486 32 /CZI NANTAI LINE FUUY CONTAINERISED SERVICE TO MAURITIUS SOUTH AFRICA vessel I »0T I sw I PUI I DW I cn I »/uf ■jjjMWjjg OlfS 21/1? 12/01 14/01 NAMIAIVBHfi 024S 04/01 12/01 lt/01 21/0) 73/01 GOUltll DKAGOW 007S 12/01 22/01 24/01 31/01 mm MIKES Pits IVOI 03/02 07/02 NAMttl QUEEN
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  • Page 33 Advertisements
    • 567 33 BSfl a. MT MYANMA «BBk FIVE STAR LINE (Myanmor National Um) V v Loading for Yang on (Rangoon) VESSEL VOY SIN PRG PEN PGU PATHfIN 144W SU> HPA-AN 239W M PT MALAYSIA AGENTS: OOUSTIAD SUPPING A6CNOES KUL HI 02-03-*****00 PKL TH 02-03-37M101 PEN: m 02-04-*****02 PGO: IE 02-07-*****21/4 BANK LINE
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    • 1198 33 A HYUNDAI MERCHANT MARINE CO. LID. [VESSEL VOY I SIN I UH RTM ANT HAM ORE FEL I VESSEL VOY I LEW I ORE I HAM I FEL ANT RTI SM HY GENERAL JO9W 29/12 15/01 16/01 10/01 10/01 10/01 21/01 NY COMRKXKME 309E 04/12 07/12 07/12 09/12 09/12 11/12
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    • 707 33 (fe FAMOUS CONTAINER UNES JIB 80 ROBINSON ROAD, #22-02 SINGAPORE *****8 HOT LINE: *****33 (30 LINES) WB PMg MMRESS:- WWW.IMtttI.COHE-MM MCBBS: IgjlgjgMfctllljl 4 SAILINGS A WEEK TO S BANGKOK J J AND REGULAR SAILINGS TO cSabang THAILAND /rill \BANGKOK laemJnabang I I f Qi i M I f FOR BOOKING
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  • Page 34 Advertisements
    • 937 34 r »AIIOKOK/l.«lM CW*»*NO I I JAK*WTA/P«MJAWO VESSEL VOY SIN BKK LCH VESSELVOY SIN JKT PJN ORABHUM" XN In pT 28/12 DEJA BHUM 727S In Pt 20/12 2S/12 NAKTA BHUM 373N In Pt 27/12 28/12 MATHU BHUM 364S 28/12 27/12 SINO OCEAN OCNQ39 24/12 27/12 MATHU BHUM 3S4SB 26/12 27/12 BAN!
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    • 634 34 PUL INTERNATIONAL LINE PUL INTERNATIONAL W ri i WmTuk* faapH XX tagiptfn*tm\ t» d fci*n*m M MTM. JAKARTA (UTCI) SSIGS/WK yjl j YOT JKT m 5 OCAGON 'AMtAm ISW lIN FT I T\JI I 11/17 I cat T\qll I WSWBBfT htk I 5/ii m W\\ Tftffihtj SIAIiGEND 67K I 24/12
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    • 769 34 1 ACCORD A SHIPPING PTE LTD Til s ***** IS (40 Line*) FAX: *****30 MTUAHG (03) U7IMI M M DWKT ACCESS TEL: *****55 (EXPOKT SOOiaNO) MM GUDAMG (07)351 13/7 *****34 (EXPORT DOC), *****39 (IMPORT) KMJJK (94)*****41 URL-HTTP-.//WWWJkCCORD.COM.SG MJUtU (11) MO 0770 VAA^ row m sin poit ita sin pokt cta
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  • Page 35 Advertisements
    • 502 35 INDONESIA NATIONAL LINE TO EUROPE H EXPRESS SEMhCONTAJNEWISED SERVICE Wl VOY IPORE AOAM/nOAM H'IURO IRE MEN ANTWERP A VESSEL 4ZWbI 5/2 9/2 OMIT 13/2 TO AUSTRALIA FULL COKPUWER SERVICE WL wTTEFSfI fflf K STD W IW HH Aujranwwsi svn awn own ivn Mxorrvm. [ysm|wi2 77/i2|Hai| own izm 1&01 urn NOL
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    • 1085 35 ADVANCE CONTAINER LINES (PTE) LTD AP I 140 Cadi Street, *12-00, PIL Building, Singapore *****0 M LZ TEL: *****21. FAX *****19, TELEX RS ***** ACL PL ——CR NO. **********0E OPERATIONS: *****60/ *****05 IAWCKOK JAKAKTA 'j»r, i VESSEL VOY SM BKK VPT 2: 7/1 SUAE MJSA (UTC l) 962 24/12 V*d
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    • 954 35 [VESSELS VQV SIN JED MLA LEH HAM THP HTM 2H WXE 06 AWT ARES L23W 22/12 31/12 BWI 1(W1 12A)1 13V01 IVt>l 18/01 VJ-EDE VWOO S23W 30H2 07AH 12AM IftPl JOKM 21AM 22AM ZHM W-LE DE NORMA WW OOftH 14/01 IftAM 2BAM 27AM 2MH 2MOI 2SVOI VXE OE GCMtIA H23W
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    • 36 35 /^NORBULI^ I VUWUir 3 NORBULK CARGO SERVICES LTD I I REGULAR CONVENTIONAL I [ictmuwmo 10/12 05/01 nu/m/m/m I ■nouuxim is/ii aaoao/iasMran I ALSO LOADS SAfIAHfIAMWAMNPO PORTS I /EStwbbbulkto^^^^^l INOOIUTUI 25/12 HONGKONG/HfiJMG/tAOHSUK I jM|j»BgjgC__2l/01 HONGKONG/SHANQW I w
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  • Page 38 Advertisements
    • 48 38 To retrieve more schedules, just follow these simple steps... document 740-6000^^WF^^ tep be the port Ste *Vw Ste P ke y in the four number digit code Key in your Example: > fax number To NEW YORK (NYC) 2275 L o United States for calls within Singapore v y
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  • Page 41 Miscellaneous
    • 126 41 LEGEND: R Thunderstorm Temperotvre °q V Shower Weother Wind direction with speed in knots Rom Cloudy Sky Wov h *'o ht Surfoce winds or# indicated by arrows which «y with the wind (l) "xle represents calm or kght ond vonoble winds One hart fleche represents 5 knots One W Heche
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  • Page 42 Advertisements
    • 87 42 -BUSINESSCENTRE Your 24-hour instant info access centre to shipping services and products. Around-the-clock. Seven days a week. Call 740-6000 Press T key in Document Code Key in fax number Enter your phone number rONLY MOBITALK OFFERS CRYSTAL CLEAR Document Code COM M U I O^N^S No static. No crosstalk. Just
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