The Business Times, 14 March 1998

Total Pages: 24
1 24 The Business Times
  • 13 1 THE BUSINESS TIMES MITA(P) 110/12/97 85t SINGAPORE Internet- http://www.asial.com.sg/biztimes WEEKEND EDITION, MARCH 14-15,1998
    13 words
  • 63 1 §msm UISHJ3 (+17.79) MBT-SU U MOuM (+6.55) wmwtcoMP (J 13*6-32 (+10.80) MBTXOA U 837.73 (+3.38) OTOMMAHBTBOMCBB FHdaya rhiingr KLSECOMP 7f&16 *%M NIKKEI 17JK0.14 +481M HAND SENG UjK7.«_.+!RM SET INDEX Mil +1U7 JAKARTA OOMP-JM.lt *%M MANILA COMP -1,1711* -*11 TOFEI WH MKil 4* SBJIX COUP 6K19 4» 08A CHINA
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  • 70 1 EXCHANGE BATES* m st uss -—uw i IM7 2J87 DM M47 1808 YEN 100 t7?t 1JMS Nt 12C1 8.484 HKS BAKT 0.914 0.038 HT1AH IN OlOIO 0.016 •biMikmkram PUKE SATES SINGAPORE* 7.86 KUALA LUMPUR 13.W JAKARTA -AM BANGKOK 1M0 MANLA 17 M HONGKONG tUS TAIPEI Ml SYDNEY. I00 TOKYO
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  • 743 1  -  Bnt President Suharto may have some surprises up his sleeve, say analysts From: S N Vasuki in Jakarta IF THE expectations about President Suharto's new cabinet are borne out this morning when the lineup is announced, it is bound to draw flak from
    AFP  -  743 words
  • 724 1  -  Unable to persuade Suharto, it hopes to spur reforms by working with allies From'. Leon Hadar in Washington THE Clinton Administration, frustrated over its inability to persuade President Suharto to embrace economic and politic cal reforms, has decided to adopt a "wait-and-see" policy towards
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  • 499 1 Bloomberg, AFP (KUALA LUMPUR] United Engineers Malaysia Bhd and its associate Renong Bhd yesterday announced provisions of 450 million Malaysian ringgit (Ssl9o million) in unrealised foreign exchange losses. The provisions arising from a foreign debt pile and the ringgit's slide caused serious
    Bloomberg,; AFP  -  499 words
  • 764 1  -  HKS2JH> Li Ka-ihing bid well below market estimate From( Quak Hiang Whai in Hongkong REFLECTING the depressed property market in Hongkong, a consortium comprising Li Ka-shing's Cheung Kong and Hutchison Whampoa paid HK)2.9 billion (*****.7 million) in a winning
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  • Page 1 Advertisements
    • 108 1 gjjggg Changing lifestyles and a new economic austerity are changing Singaporeans' ideas about recreation clubs. How are patahHshmenta SUCh as Fort Canning Club and Raffles Town Club viewing the changes? EL 1 Pods With! dnrac6 There's a common thread that runs through investment funds like Tat Lee Cash Value and
      108 words
    • 178 1 Bill says... HT "Among all the countries In the world, Singapore Is the leader In developing the Infrastructure for what I call the "digital nervous system" and the "Web lifestyle". Bill Gates, writing in The Business Times He's at the forefront of the information revolution and a legend in his
      178 words
    • 10 1 Huge uversuppty inHK office market fast building up, Pg 7
      10 words

  • SINGAPORE AT HOME & ABROAD
    • 683 2  -  IMiyUWiT m DtnritmniT Budgets for foreign affairs, home affairs and health ministries passed by House By David Boey BUDGET allocations for three government ministeries Foreign Affairs, Home Affairs and Health were passed by parliament on the fourth day of the budget debate yesterday. Resuming
      683 words
    • 222 2  -  That's why STpore is taking active role to help country By Ven Sreenivasan SINGAPORE is taking an active role in trying to help Indonesia out of its current economic problems because it is a key strategic player in the region, Foreign Affairs Minister S Jayakumar
      FILE PHOTO  -  222 words
    • 393 2  -  By I Siow Li Sen START-UPS or companies with little or no operating record can raise capital through second board Sesdaq, said a Stock Exchange of Singapore (SES) official. "Our rules can accommodate start-ups," SES listings manager Ho Yew Mun said. "Maybe our
      393 words
    • 524 2 He does not see crisis as the end of the Asian miracle ASIA'S economic crisis will cost Singapore 2 to 3 per cent in economic growth and more in the long run if there is a loss of confidence in
      524 words
    • 280 2 THE government will take a tough stand against illegal immigrants, Home Affairs Minister Wong Kan Seng told parliament yesterday. No one entering Singapore illegally will be considered a refugee, Mr Wong said. They will be regarded as illegal immigrants, punished and sent home.
      280 words
    • 388 2 'When the children are young, it is the best time to educate them on healthy living and taking good care of their health. Yet MOH (Ministry of Health) is only spending $11 million on School Health Services (SHS). Assuming there are half a million school children, we
      388 words
  • Page 2 Advertisements
  • Page 2 Miscellaneous
    • 349 2 THE WEAi'itm Singapore: Fair. Temperature(3o-26) Aala-Ptdflo Hl/Lo* Good. Ewoy Hl/Lo* Good. America Hl/Lo* Goad. Auckland i£lB Ram Showers Buenos A«w tt/U Cta*h Bangkok »7* Sunny Mkm 1«*» Ooody o*7 CVmdy Berfta 08-01 Cloudy "<*%> 22 Bombay Cloudy Bom 07 W Showers Honriuhi i 719 Brunei tt?6 Hazy Copenhaffti 0602 Showers
      349 words

  • FOCUS: PERSONAL FINANCE & INVESTMENT
    • BULL'S EYE
      • 581 3 Those polled for their views on the Singapore stock market outlook for next week were: Dresdner Kleinwort Benson, Daiwa Securities, Deutsche Morgan Grenfell, Kay Hian, Summit Securities. fThnnl Industries ♦(Sell) Indosuez WI Carr, March 12, US$l.B9 Clipsal's fortunes are closely tied to the construction sector as the
        581 words
      • Article, Illustration
        429 3  -  Eswar Menon Portfolio manager Nicholas- Applegate Capital ManajMiiimt 44T AST year saw most I Asian markets face 1 difficult times. The selldown of the currencies and the markets have set these economies back a few years. The underlying problems were a weak financial system, non-market based decisionmaking
        429 words
    • 544 3  -  Three-day course shows how change in perspective can open unimagined doors Reports by] Raju Chellam [SINGAPORE] AN ECONOMIC downturn could be the perfect opportunity to create wealth provided you change your attitude about money and yourself. All the ingredients to making a lot of money are
      544 words
    • 225 3 THEY re-create the New York Stock Exchange in Langkawi. They set up a mutual funds operation in Bali. And they play a Harvard-recognised business game in Singapore. That's the way the Excellerated Business Schools teaches its students. It is three days for Money and You,
      225 words
    • 524 3  -  EYE OH THE REGION: HONGKONG Not many reasons to buy except during sharp drops From Quak Hiang Whai in Hongkong TWO brokers one in equities and the other in equity futures strolled casually into their friend's office for free coffee and a quick chat. Nothing
      524 words
    • 557 3  -  1997 DIVESTMENT FUND AWARDS Among the reasons: higher cash levels and overweighting electronics By Shiv Taneja [SINGAPORE] Managing an investment portfolio in Asia last year was no easy task, and doing a considerably better job than most were five unit trusts which received commendations
      557 words
    • 1337 3 Next publication date: Apr 11,1998 immi jgij t&t£SZ **wm "TCl Nichols- Vpplegale iFpore Of. »ii 555 5 fS I -11H 2 -44.14 4 0* i U I OCBC Saven Capital 27*4*7 -(L86 2 -410 4 -1*07 4 -40.07 7 -1881 3 2289 3 OUB Union Singapore
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  • MARKETS IN TURMOIL
    • 743 4  -  Thai unit at 3-month high; Malaysian ringgit rises on talk of foreign buying By Larry Wee, Wong Wei Kong [SINGAPORE] Asian currencies closed the week on a strong note, boosted by a surge in both the Thai baht and the Malaysian ringgit. So too
      Source: Dow Jones  -  743 words
    • 460 4 Bloomberg AFP [WASHINGTON] Thailand's economic situation is "under control", although additional US aid for Asia may still be necessary, Thai Prime Minister Chuan Leekpai said. "We have turned the corner" in Thailand, Mr Chuan told members of the
      Bloomberg; AFP  -  460 words
    • 311 4 Soros fond among backers of largest package secured by Thai firm since crisis Reuters [BANGKOK] Steel maker Nakornthai Strip Mill signed a US$65O million (Ssl.l billion) financing deal yesterday which arrangers said could come to mark a turning point in Thailand's drive for economic
      Reuters  -  311 words
    • 257 4 Bloomberg [TOKYO] Japanese Prime Minister Ryutaro Hashimoto will call on Indonesia to implement reforms under an International Monetary Fund bailout when he meets President Suharto tomorrow, government officials said yesterday. Japan is the largest contributor to a US$4O billion (5564.8 billion) plus
      Bloomberg  -  257 words
    • 68 4 [KUALA LUMPUR] Masiah Artiffin of the Malaysian Information Ministry placing a foreign currency note on a board set up at the department on Thursday. She is among staff who has heeded a directive to donate their foreign currency small change, collected during overseas trips,
      REUTERS  -  68 words
    • 278 4 Reuters [KUALA LUMPUR] Sharply lower domestic demand is expected to slow Malaysia's economic growth this year to 2.2 per cent, economists polled said yesterday. The average gross domestic product (GDP) growth forecast of 12 research houses and stockbrokers is lower than
      Reuters  -  278 words
    • 351 4  -  But figures not so rosy in US dollar terms, say analysts From Harish Mehta in Bangkok THAILAND achieved a trade surplus for the sixth consecutive month on the back of a strong recovery of exports that almost doubled in February, in baht
      351 words
    • 334 4 Bloomberg, AFP [SEOUL] South Korea and 123 international banks concluded an agreement to extend US$2l.4 billion (SS3S billion) of maturing Korean bank debt for up to three years in exchange for government guarantees. The agreement opens the door for the government to
      Bloomberg,; AFP  -  334 words
    • 184 4 Bloomberg [WASHINGTON] Japan must take further steps to spur its economy to help pull the rest of Asia out of its economic slump, while Indonesia still needs to implement key reforms, said US Secretary Robert Rubin. "The most important thing Japan can do
      Bloomberg  -  184 words
  • Page 4 Advertisements

  • REGION
    • 379 5 HONGKONG Bloomberg AFX-Asia, CHINA'S textile exports have fallen sharply since the beginning of the year, the China Daily reported, calling on the government to help manufacturers overcome current difficulties. The newspaper said one positive factor is that the prices of imported raw materials
      Bloomberg; AFX-Asia,  -  379 words
    • 398 5 TOKYO 0.1% growth target unlikely as economy shrinks 0.2% in Oct-Dec period: govt Reuters, Bloomberg JAPAN appears headed for its first recession in over two decades judging by data released yesterday, a prospect that is likely to strengthen calls for the
      Reuters,; Bloomberg  -  398 words
    • 358 5 SEOUL Reuters SOUTH Korean President Kim Dae Jung yesterday granted a sweeping amnesty to 5.5 million people ranging from political prisoners to drunken drivers whose licences had been revoked. "This is the biggest amnesty since the founding of the nation," Justice
      Reuters; AFP  -  358 words
    • 399 5 KUALA LUMPUR It will cooperate with Indonesia to fight new haze threat AFP MALAYSIA is intensifying efforts to stop fires spreading through eastern Borneo and will work with Indonesia to combat the threat of a new haze enveloping South-east Asia. Reports yesterday
      AFP  -  399 words
    • 242 5 NEW YORK Reuters VIETNAM on Thursday closed a Brady-style deal to restructure its commercial debt, cutting the size of the debt in half and allowing the new paper to trade in secondary markets, Vietnam's legal counsel said. The deal restructures about US$B5O million (SSI-4 billion)
      Reuters  -  242 words
    • 347 5 TOKYO Bloomberg, AFP JAPAN's government agreed to pump a total of 1.42 trillion yen (5517.9 billion) into 17 banks to replenish their capital and restore public confidence in the debt-burdened financial system. Lenders ranging from Bank of Tokyo-Mitsubishi Ltd, the nation's
      Bloomberg,; AFP  -  347 words
    • 548 5  -  Bat partners upbeat about future; 15% growth targe ted From Lu Ning in Beijing PSA Corporation's first major overseas investment project the US$5OO million (SsBlo million) Dayaowan container port in Dalian, China has been adversely affected by the Chinese economic slowdown and
      548 words
    • Article, Illustration
      59 5 (NEW DELHI] Motorists passing a traffic light with the word "Relax" written on it in New Delhi on Thursday. Police in the Indian capital have designated the city's traffic signals as places to relax. When the lights change to red a message to "relax"flashes to make impatient
      REUTERS  -  59 words
    • 317 5 U NEW DELHI Party to seek backing of outgoing United Front coalition AFP, Reuters INDIA'S Congress party said yesterday it would try to form a new government with the help of the outgoing multi-par-ty United Front coalition. The statement came a day after
      AFP,; Reuters  -  317 words

  • THE WORLD
    • 511 6 WASHINGTON Higher cigarette prices pull core rate up 0.1%; businesses face depressed prices Bloomberg PRICES paid to US factories, farmers and other producers fell 0.1 per cent in February, the fourth consecutive decline, showing inflation remains well behaved. Falling
      Bloomberg  -  511 words
    • 344 6 FRANKFURT Cuts will focus on transaction banking and services Reuters DEUTSCHE Bank AG yesterday confirmed some details of its planned job cuts over the next three years as part of its 2.5 billion mark (552.2 billion) reorganisation. A spokesman for Germany's largest
      Reuters  -  344 words
    • 314 6 MOSCOW Reuters RUSSIAN markets weathered an early storm yesterday caused by fears for President Boris Yeltsin's health and settled down to focus on a sixpoint cut in interest rates that reflected a stronger economy. The central bank cut the key refinancing rate to 30
      Reuters  -  314 words
    • 232 6 BRUSSELS Reuters THE demise of Britain's imperial measurements such as pounds, ounces, feet and inches will be postponed by another 10 years under a new European Union proposal to be presented soon, officials said on Thursday. The old imperial measures, except for miles and pints,
      Reuters  -  232 words
    • 283 6 LONDON Reuters THE first year of the "mad cow" crisis cost Britain between £740 million (Ss2 billion) and £980 million net and caused up to 1,000 job losses, a report published yesterday said. The report, by management consultancy DTZ Pieda Consulting
      Reuters  -  283 words
    • 63 6 w [WASHINGTON] Participants in meteorology classes held at the weather observatory atop Mt Washington leaning into the wind that was gusting above 128 km per hour. The I,9oometre mountain has some of the worst weather in the world. Freezing winds whip at near hurricane
      REUTERS  -  63 words
    • 372 6 LONDON GDP data, surprise surplus fuel rate hike expectations Reuters THE British economy grew faster than previously thought in the fourth quarter of last year, providing further ammunition for monetary policymakers arguing for a rate rise. The Office for National Statistic yesterday said
      Reuters  -  372 words
    • 266 6 WASHINGTON Bloomberg US President Bill Clinton is threatening to veto a spending bill worth U554.35 billion (Ss7 billion) if Republicans insist on an amendment that would prevent federal regulators from compelling broadcasters to award free TV air time during elections, a spokesman said on
      Bloomberg  -  266 words
    • 342 6 BEIJING AFP, Reuters NORTH Korea has started its annual war mobilisation exercises with air-raid sirens wailing through the capital, Deputy Foreign Minister Li In Gyu said yesterday. "The whole country has been put in a state of wartime mobilisation since 10 pm on
      AFP,; Reuters  -  342 words
    • 255 6 WASHINGTON AFP The White House welcomed China's decision on Thursday to sign a UN civil rights covenant, hinting it could brake US efforts to condemn Chinese abuses at a UN forum next week. White House spokesman Michael McCurry said on Thursday that
      AFP  -  255 words
  • Page 6 Miscellaneous

  • COMPANIES & MARKETS
    • 490 7  -  Analysts had forecast 45% rise; $5-8 m provision made for ongoing development By, Ang Wan May [SINGAPORE] Net earnings of Far East Organisation's listed Orchard Parade Holdings fell 13.2 per cent to $21.6 million for the full year ended Dec 31, 1997. This
      490 words
    • 261 7  -  By Audrey Tan [SINGAPORE] Singapore Telecommunications (SingTel) is selling its Swedish cable television subsidiary, the Stjarn TV group, for 730 million Swedish kronor (Ssl4B million). A Sing Tel statement yesterday said the deal includes Stjarn TV's group companies namely Space Net, Stjarn TV and
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    • 430 7  -  Net profit dives 27%; fall also in associate contributions By. Annette Pau [SINGAPORE] Acer Computer International (ACI) yesterday posted worse-than-expected results, with 1997 group net profits falling 27.2 per cent to $23.66 million. Things were so bad that in the second half, group
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    • 768 7  -  HOCK LOCK SIEW Quak Hiang Whai A BROKER has found a new indicator for the Hongkong office market. Everytime the seaview from his MidLevels apartment becomes smaller, office property prices fall further. The less water he sees, the less money in
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    • 382 7  -  Rednced profit from development projects; bigger Brashs losses By Siow Li Sen [SINGAPORE] Hotel Properties Ltd yesterday said 1997 net profit fell 27.3 per cent to $44.1 million despite an 11.1 per cent rise in turnover to $650.5 million and warned of
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    • 226 7 [SINGAPORE] Chuan Hup Holdings posted a 5 per cent lower net profit of $5.04 million for the six months ended Dec 31 despite a one-third jump in group turnover to $58.9 million. The marine group made a $8.7 million provision for the fall in value
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    • REGIONAL COMPANIES
      • 333 8 Company braces for 'very difficult' 1998 amid HK's tourism, property slump Bloomberg [HONGKONG] Swire Pacific Ltd, exposed to Hongkong's slumping tourist industry but buoyed by the now-faltering property market, reported a 1997 net profit of HKS6.6B billion (Ssl.4 billion). The 12.8 per cent
        Bloomberg  -  333 words
      • 284 8  -  By\ Conrad Raj [SINGAPORE] While most firms are reporting lower turnover and profits for last year, Sembawang Marine Logistics (SML), a unit of diversified Sembawang Corporation, announced a 46 per cent jump in group net earnings to $24.29 million for
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      • 555 8 Forecasts scaled down; $lb debt seen stunting growth in earnings AFXAsia [SINGAPORE] Sembawang Corp is expected to report a 1997 net profit of $31 million to $35.8 million, up from $30 million in 1996, with rising debt costs holding back profit growth, analysts
        AFX- Asia  -  555 words
      • 367 8  -  Group net profit up 22.7% to $1.27 m for six months By, Jenny Lam [SINGAPORE] Food distributor Auric Pacific Group has made provisions of $19.6 million, mostly for a diminution in value of its investment in Indonesia's PT Bank Niaga. The company yesterday
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      • 56 8 [AUCKLAND] Protesters holding placards during their march in torrential rain yesterday against the prolonged power outage in New Zealand's biggest city of Auckland. About 100 protesters marched down the city's main retailing street which has been in darkness since the last offour cables into the central
        REUTERS  -  56 words
      • 455 8  -  29% price rise draws the attention of a more vigilant ELSE From. Eddie Toh in Kuala Lumpur THE Kuala Lumpur Stock Exchange has become more vigilant in its market surveillance under its new executive chairman, Azlan Hashim. The KLSE yesterday suspended
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      • 152 8 AFP [KUALA LUMPUR] Moody's Investors Service said yesterday it had placed the ratings of Sime Bank Bhd and Bank Bumiputra Malaysia Bhd under review for a possible downgrade. The move was a result of the "severe impairment of asset quality", the "resultant inadequacy of
        AFP  -  152 words
      • 307 8 Bloomberg (SYDNEY] James Hardie Industries Ltd, an Australian building products company, said it will book a one-time charge of Asll million (Ssl2 million) in the year to March 1998 after a long-standing legal battle was settled. James Hardie said in a statement the main parties
        Bloomberg  -  307 words
      • 288 8 Bloomberg [MANILA] Orient Commercial Banking Corp's owners will inject about 4.7 billion pesos (Ssl92 million) in properties into the shuttered bank to cover unpaid debts, senior central bank officials said. Philippine retailer Jose Go who, along with his brothers
        Bloomberg  -  288 words
      • 203 8 AFX-Asia [KUALA LUMPUR] Bank Negara has told finance companies there will be no extension of the March 31 mergers deadline, the Star reported yesterday quoting industry sources. "Bank Negara has told all of us that the broad principles of the mergers must be finalised by
        AFX-Asia  -  203 words
      • COMPANY Briefs
        • 61 8 [SINGAPORE! Sing Investments Finance said net profit fell 5 per cent to $2.6 million for 1997. Operating revenue dipped 2.11 per cent to $32.1 million. Earnings per share dropped to 9.09 cents from 10.09 cents and net tangible asset was $1.83, up from $1.81.
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        • 89 8 Bloomberg [KUALA LUMPUR] Malaysia's Southern Bank will merge its finance company unit with its banking operations, said chief executive director Tan Teong Hean. "We have reviewed all options, and we think the best way forward is to amalgamate our finance company with our bank," he
          Bloomberg  -  89 words
        • 43 8 [SINGAPORE] CAM International has appointed Tan Tiong Hong, a former Malaysian cabinet minister, a non-executive director with immediate effect Mr Tan is also currently executive chairman of Bescorp Industries Bhd which is listed on the Kuala Lumpur second board.
          43 words
        • 59 8 [SINGAPORE] DBS Bank has promoted Soh Kim Soon to deputy president from senior vice-president, effective yesterday. Mr Soh is currently chairman of the DBS Securities group of companies and DBS Finance Ltd. His duties will be expanded to include finance tax, risk management, information
          59 words
        • 57 8 [SINGAPORE] Parkway Holdings is setting up a company to offer image guided robotic surgery. The new company, IGS Pte Ltd, is a joint venture with subsidiary Thermal International (S) Pte Ltd, Elekta Instruments Asia Ltd, Advanced Medical Systems Pte Ltd, Dr Balaji Sadasivan, Dr Lee
          57 words
        • 58 8 [SINGAPORE] Freight Links Express Holdings has agreed to buy Concept Hope Sdn Bhd for 4.25 million Malaysian ringgit (SII.B million). Concept Hope owns a piece of leasehold land in Pasir Gudang, Johor, and will build a factory cum warehouse on the land, after the
          58 words
    • COMPANIES
      • 475 9  -  It will dose Boston Bet-opofitsUS securities unit as part of cost cutting From, Anthony Rowley in Tokyo ONE of Japan's leading commercial or "city" banks, Fuji Bank, yesterday flatly denied rumours swirling in international markets that it is in financial difficulty. The
        475 words
      • 593 9 Boards hope to unveil final merger agreement next week Bloomberg [NEW YORK] The National Association of Securities Dealers and the American Stock Exchange reached an agreement to merge as they try to catch up with the New York Stock Exchange, said regulators
        Bloomberg  -  593 words
      • 256 9 Bloomberg [NEW YORK] The New York Stock Exchange plans to build two new trading floors one on top of the other on Broad Street, across the street from its current Wall Street home, a source familiar with the situation said. The two 40,000 sq ft
        Bloomberg  -  256 words
      • 251 9 Loss seen in Q4 due to Asian slump, production woes Bloomberg [SANTA CLARA, California] National Semiconductor Corp said on Thursday profit fell 8.7 per cent in the third quarter and warned it will lose money in the next quarter, hurt by production problems and
        Bloomberg  -  251 words
      • 259 9 Bloomberg [REDWOOD SHORES, California] Oracle Corp said fiscal third-quarter profit rose 12 per cent, beating expectations, as sales of its mainstay database software picked up after two disappointing quarters. Profit was U*****.1 million (*****.9 million), or 22 US cents a diluted
        Bloomberg  -  259 words
      • 142 9 Bloomberg [TOKYO] Japan Telecom Co said on Thursday it plans to build an undersea fibre-optic cable to connect Japan and the US with at least five other major phone companies. Other members include MCI Communications Corp, GTE Corp, World Com Inc, Cable Wireless pic
        Bloomberg  -  142 words
    • FINANCE & COMMODITIES
      • 434 10 Healthy economy fuels growth in loans, other interest earning assets FDIC Bloomberg [WASHINGTON] US commercial banks earned a record U5559.2 billion (5596.6 billion) in 1997, up 13.2 per cent from 19%, the Federal Deposit Insurance Corp reported. Bank earnings for 1997 rose
        Bloomberg  -  434 words
      • 174 10 [SINGAPORE] Open interest the volume of outstanding contracts hit an all-time high of 1.17 million contracts on the Singapore International Monetary Exchange (Simex) on Thursday. Announcing this yesterday, Simex said the previous record of total open interest was 1.16 million contracts set on
        174 words
      • 317 10 Preliminary accord reached with Sanyo Investment Mgt Bloomberg [TOKYO] Pension fund manager Fiduciary Trust Co has reached preliminary agreement to purchase all the stock of Sanyo Investment Management Co, a unit of failed Sanyo Securities. Mitsui Marine Fire Insurance Co said earlier
        Bloomberg  -  317 words
      • 408 10 USS/mark: The US dollar traded within the 1.8235 to. 1.8375 range for the first four days of the week and was seen hovering around 1.8265 yesterday morning. No spurt is seen for the unit as it is still within the broad range of 1.7500 to
        Source: DBS Bank  -  408 words
      • 295 10 Bloomberg [FORT LAUDERDALE, Florida] Investors have sued the Templeton Vietnam Opportunities Fund and its president, Mark Mobius, claiming that failure to live up to the fund's guidelines led to a loss of more than US$3O million (Ss49 minion). The class action
        Bloomberg  -  295 words
      • 209 10 SIMHX Report Reuters (SINGAPORE] Simex Euroyen and Japanese government bond (JGB) futures eased yesterday as stocks in the Tokyo exchange rose on reports public funds would be used to boost the Nikkei before the financial year-end. But dealers said the credit market was able
        Reuters  -  209 words
      • 165 10  -  MSCI TAIWAN FUTURES Charlie Kuo Charlie Kuo, service dealer. Refco Singapore Pte Ltd [SINGAPORE] The Simex MSCI Taiwan Stock Index futures dropped for the first time in five days, with the March 98 contract down 2.2 points to 371.7 points. The market showed
        165 words
      • 228 10 ENERGY REPORT Reuters [LONDON] Opec oil producers signalled yesterday they needed more time to heal a bitter internal dispute over production that has sent prices tumbling to nine-year lows. Secretary general Rilwanu Lukman said a scheduled meeting next week of a committee of oil
        Reuters  -  228 words
      • 271 10 Bridge News AFP London THE US dollar plunged into the European close amid speculation that former White House aide Kathleen Willey will refer to an unwanted sexual encounter with US President Bill Clinton in a televised interview tomorrow. The losses erased earlier gains made on worries about the
        Bridge News; AFP  -  271 words
      • Article, Illustration
        714 10 WTHKB*II» CROSS EATBS AS CS tab ECU Ffr ta HK$ Yw iw ta NZ$Nfcti Ptw S$ ll* Sir HT$ »*t 2 :S 1 s i S$S 1 tl 11 5s« i ki %s ss as, °dS a i| S 12 &SS SS «S oS53 »S m«S S3? S oSS oS51
        714 words
    • 1726 11 SICOH rPTPKBS Maris RU88£ft (Mures ctostoe «rt5J0e«> KS1C0HTtACT($cwbA«) CtoM Volume OpM Woatti Hjfb Low Sttt (tonnes) Interest Apr 98 115.75 975 Hay 91 118.75 2500 JM 98 120.75 3475 Jtf/Sep 98 126.75 4095 Oct/Dec 98 134.50 5625 Jen/Xer 99 138.00 150 •SS3C0NTtACT(USce*s/k«) Votame Open Martfc Mjfc Uw Sttt
      1,726 words
    • 2275 11 LOUDON wg u 31 Croup 590 unch AS Port! 372.400 7.400 AbPay National 1T75 *19 ADiM Domacq 577 Am* 155 -3 AM Group 193.400 1200 BAT Ind 635 7.600 BG Pit 300 -2.200 BiCC 152 unch HOC Group 951.400 .400 BR Patroiaum B21.400 -9 BTR 195.400 4
      2,275 words
    • 1651 11 AFP PffittaißS +***** JAPANESE share prices jumped 2.9 per cent yesterday on a press report that the government will use huge postal savings funds to bolster the stock market, brokers said. The Asahi newspaper report prompted brokerage house dealers and individual investors to focus their buying on large-capital issues
      AFP  -  1,651 words
    • Article, Illustration
      1488 12 AFP, Reuters QlUngSeng ♦***** SHARE prices rose 1.4 per cent yesterday to breach the 11,000 points barrier but traders lacked an incentive to reinvigorate a subdued market, dealers said. The key Hang Seng index closed up 154.56 points, at 11,057.03 after starting the week at 10,919.53. Turnover remained quiet
      AFP,; Reuters  -  1,488 words
    • Article, Illustration
      626 12 Reuters nSbmAmtlaka. 4M CHINA'S hard currency B shares ended mixed yesterday as trading shifted to Shanghai amid fears over currency exposure for Shenzhen stocks, brokers said. The denomination of Shenzhen B shares in Hongkong dollars, seen as vulnerable to speculative attack, has convinced many local investors to turn their
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  626 words
    • 347 12 AFP, AFX-Asia □wtmp -m SHARE prices closed hardly changed yesterday as late selling wiped out early gains amid consolidation, dealers said. The Weighted price index slid 0.86 point to 9,055.51. Turnover dropped to 3.3 billion shares worth NT5157.89 billion. National Securities dealer Oliver Fang said he expects the current
      AFP,; AFX-Asia  -  347 words
    • Article, Illustration
      702 12 AFP F1 Composite Index +&S4 SHARES climbed 1.7 per cent yesterday on growing speculation that a currency board pegging the rupiah to a fixed US dollar exchange rate would soon be formed, dealers said. "I think many people are optimistic that the government will set a fixed rate for
      AFP  -  702 words
    • Article, Illustration
      830 12 AFP n SET Index *15J7 Thai stocks surged 3 per cent yesterday ending three days of declines amid sharp currency appreciation and signs of a warm reception for Premier Chuan Leekpai in the United States, dealers said. "The prime minister's trip to the United States has produced quite good
      AFP  -  830 words
    • 284 12 AFP Q Manila -121 SHARE prices closed 0.2 per cent lower yesterday in continued sideways trade, brokers said. The Philippine Stock Exchange Composite Index shed 3.21 points to 2,173.29. Turnover rose to 784.6 million shares worth 1.58 billion pesos compared to 691.77 million shares worth 1.55 billion pesos on
      AFP  -  284 words
    • 389 12 AFP rlOiqwßteladei *&32 SHARE prices closed slightly higher after a volatile session punctuated by a security scare, with medium- and small-cap stocks at the centre of local buying, dealers said. The Composite Index closed up 0.32 point, or 0.06 per cent, at 536.16, off a high of 540.09 and
      AFP  -  389 words
    • 606 12 AFP |H| All Ordinaries SHARE prices edged slightly higher yesterday after spending much of the day lower in turbulent trading and latching onto Asian gains in the afternoon, brokers said. The All Ordinaries Index gained 12.1 points to close at 2,731.6. The All Resources index was up 6.5 points
      AFP  -  606 words
    • 249 12 Bloomberg £3 Wellington *30.42 SHARES rose, led by Telecom Corp, amid expectations investor demand for the stock won't be satisfied by US phone company Ameritech Corp's plan to sell its quarter stake. The NZSE-40 rose 30.42 to 2,299.17. Turnover was NZ576.3 million. Telecom rose 25 to NZ$B.55. Bloomberg CultusPot
      Bloomberg  -  249 words
    • KUALA LUMPUR STOCK MARKET
      • 8576 13 ■HMMMMMHi'A-Mt M CWHHMT pr«*KtS 19M Last Vai Day Nat Cap mm Laat Cmm Sata -OOP High Law P/I Smii »0 ISO AJInemato 2M -22 4 2*0 2M MJ 104.6 V48 73 Angkasa 109 uncti 13 110 109 2.5 M0.7 290 123 AaoaoFoodHtq 201 unch 3 210 201 54 80 4
        8,576 words
      • 416 13 AFP Pf Composite Index +9.13 STOCKS closed 1.4 per cent higher yesterday in thin trade on local buying support despite lingering negative market sentiment, dealers said. The Composite Index rose 9.93 points breaching the 700-point psychological barrier to end at 708.16. The Second
        AFP  -  416 words
    • WARRANTS & OPTIONS
      • 3666 14 BONDS, LOANS i VARIANTS 1997 98 Lut vol Day La»tOu*o A»5 Low Strto Company Solo COOP) High Low Buyar Soflor Prlca 68 9 m 3000 m AM08 C5.5H*****6 -tt J 81 8 3160 -Acor W*****1 USS 13.5 ♦0.5 38 13.5 13 13 14 131 8.5 3164 Acma ******4 20.5 -15
        3,666 words
      • 222 14  -  WARRANT WATCH By Ven Sreenivasan THE warrant of Clob-traded plantation stock 101 Corp crept up in relatively active volume yesterday. In Singapore, the Kuala Lumpur-listed instrument gained four cents or 12.5 per cent to 36 cents on a volume of 2.5 million. Across
        222 words
    • 2366 14 Transaction Date :Mar 13 Cf Or 1997/98 Laat Vol Day Laat OutM 0«v Mv YM Hat M Cap Hlqh Low Stno Cempany SjH COOP) High Lw Buyer SeBor C'yr P/I $m» 478 28 mi 5000 AISBSOc 93 unch 337 95.5 92 93 94 5.0 33 11 38.8 95.4
      2,366 words
    • 1697 15 TUtNOVER COOO)" VALUE ('OOO) Mate CUt THU Wfc Ol* T«41 taduatrtal 63.W6 43,120 1O6JO6 124.720 >0,1* Flnanc* 7,766 17.471 25.239 55.431 12,747 66.165 Hotats 1.701 966 2H» 2JM2 424 3.226 Propartm 12.776 14,786 27,562 ***** 6.040 42.60* Plantation 3.105 3.K35 4,350 4,350 MMM 723 723 531
      1,697 words
    • 4672 15 Transact ion Date: Mar 13 Cr Or M Wt ,007/01, Last Vti Day Last Ouota Wv Dtv Yld Nat Cap _A»f Low StNo Comply COOO) High Low Jhiyor Sollor H Cvr P/E $mM Prka MOUSTtlALS 157 18.5 o >020 ACE 0ynani4es60c 36 -1 24 36 34 34.5 36
      4,672 words
    • 1058 15 Of Or M Wt (M7/N Last V*l Day LuIOmIi 0«« M« VM MM Cl» Av« wn l— mi c—et >»» rooo) hi# u» >h« c*w w >j| 186 76 2000 AffWHWltSf W W1 3-0 6.0 Oi 137.1 42.7 97 76 fcSi -200 .2 404 209 IN 200 202 1S.0N
      1,058 words
  • Page 7 Advertisements
    • 380 7 instructed by the receiver and manager mandated by the creditor bank to realise The Sh. Sameyeh Pte Ltd Collection which includes Museum Level Examples, Mr Maurice Lidchi the appointed Curator Ad Hoc announces an Refer to the article in Business Times Friday February 27th Page 14 IMPORTANT EXTRAORDINARY (RESTRICTED) AUCTION
      380 words

  • Page 8 Advertisements
    • 45 8 It Brings Enriching^^^ Experiences For Us "Cats' Mews introduces a lot of interesting courses for people of all ages. Other than my own interests, I keep a look out for those i that will enrich my son's development." Amy Tan, mother of an 11-year-old £< miw&msiamsm
      45 words

  • Page 9 Advertisements
    • 1443 9 Croup Limited Vjgj/ RESULTS FOR THE SIX MONTHS KNDKD SI DCCEMMR IH7 The Directors of Auric Pacific Group Limited announce the following unaudited results for the six months ended 31 December 1997 Six month# ended 31 Dec. Six month# ended 31 Dec. 1997 1996 Change 1997 1996 Change A. AND
      1,443 words





  • Page 14 Advertisements
    • 109 14 igyygigygigigygijyyjjgg^gg^gyygliyi^^tiuj^i Need cash for any worthwhile purpose? At Hong Leong Finance and Singapore Finance, we give you cash for your shares. This is all you have to do: tt *|gi So, why keep your shares tucked away? Use it for a million purposes. Stop by any Hong Leong Finance or
      109 words


  • STOCK EXCHANGE OF SINGAPORE
    • 178 16 Stacks VahMM •Renong BM 50c 10,562.000 Datuuise 5c 7,280,000 •MBf Capital 6,644,000 •M Resources 6,188,000 •Refcaptcific M 5,125,000 DBS Land 4,118,000 IPC Corpn 5c 4,042.000 SM Summit Wc 4.021.000 'UmpAoenn 3.938.000 PCI 25c 3,676,000 Kepp«iLand50c— 3.505,000 Stacks DBS Foreign 24,089,546 SIA Foreign 2U11.824 SIA 19.411.150 SPH 13.612.322 OCBC Foreign 13,590.559
      178 words
    • 548 16  -  STOCK MARKET COMMENTARY Rise led by bine chips, property stocks; caution stems from Suharto's naming of cabinet today and unresolved row with IMF Wong Wei Kong [SINGAPORE] Local shares closed higher yesterday in tandem with most regional markets as Asian currencies held
      Chart info from Bridge  -  548 words
    • Article, Illustration
      51 16  -  by Shiv Taneja DATAPULSE Tech closed six and a half cents higher yesterday at 43.5 cents on a volume of 7.28 million shares, compared with its lfrday traded average of 1.79 million shares. Trading in the near term will be volatile. However, the mediumterm outlook is positive. by
      51 words
    • ON THE GRAPEVINE
      • 103 16 ...and sambal blachan, and salt fish, and fish-head curry. The Kiwi we're talking about is not the bird, you understand, but David Kersey, the newly-appointed New Zealand High Commissioner to Singapore. We're told that the main reason he started his career with New Zealand's Ministry of
        103 words
      • 111 16 WHILE on the subject of food, one of our bank contacts called to share this observation with readers of this column. In better times, so he tells us, he had an average of three lunch invites a week as part of road shows to launch new bond
        111 words
      • 137 16 DEVELOPERS here might want to take note. A group of Hongkong villagers have accused a Hongkong property developer of bringing them bad luck by dispensing with a row of 120 trees which had been planted by their ancestors to shield them from "the killing force" emanating from
        137 words
      • 82 16 STILL on Hongkong, Is It really that quiet up north? Usually, these guys are too busy to speak to reporters, even on the phone. But during trading hours on Tuesday, a stock broker as well as a Mures broker actually strolled into our Hongkong
        82 words
      • 152 16 MOST will not be faulted for saying that the Inland Revenue Authority of Singapore (IRAS) is not on their list of fevourlte destinations. But its annual seminar on Thursday seemed to have assumed a modicum of popularity and importance. IRAS experts briefed participants on details and
        152 words
  • Page 16 Advertisements
    • 571 16 BUSIMESS Notices To advertise oil toU-fre 1800-741 1883 LOST CERTIFICATES The following share certificates have been reported tost, mislaid or destroyed NM—nfCamoMW Cart.Noa NftOfSMtW hftiNMltrt Marco Polo A *****57 15,000 Hua Cheng Im Developments Ltd City Developments C *****71 83 Tan Le Se Limited Leslie Notice is hereby given that
      571 words

  • EXECUTIVE Lifestyle
    • 2087 17  -  Membership prices of recreation clubs have fallen and more sellers are on the market but the clubs themselves are not unduly worried about these developments. Mm be finds out why their managements are confident about being able to weather the current liquidity crunch COVER
      FILE PHOTOS  -  2,087 words
    • STRAWS In The Wind
      • 49 17 WE appreciate the Singaporean drive to aim for excellence, and for the government agencies' goal to serve us better. But when there's a signboard at a work-in-progress declaring: 'Towards A World Class Bus Shelter", we think the public relations machinery may be running on overdrive.
        49 words
      • 75 17 THOSE electronic signboards along the CTE that now flash messages courtesy of the Land Transport Authority could do with some grammar checks before they're sent out. Says one: "Helps clear incident quickly." Another says: "Keep you inform of traffic condition." And while they're brushing up their grammar, they
        75 words
      • 113 17 GOING to Indonesia for a holiday must be the last thing on anyone's mind right now, and forlorn hoteliers have been hard put to find a new spin to draw tourists in. One enterprising hotel in Jakarta sent this invitation to the newsroom recently. "As I am sure
        113 words
    • PROFILE
      • 1264 18  -  John Kenneth Galbraith eats pasta and his words with victoria Griffith VICTORIA GRIFFITH FT AT 90, John Kenneth Galbraith is a walking, talking institution, and he knows it. A national living treasure, and a liberal, he is invited to dinner at the
        FT; FILE PHOTO  -  1,264 words
    • BOOKS
      • 883 18  -  WOMEN'S STUDIES The Feminine Ideal By Marianne Thesander Reaktion Books 228 fg— Reviewed by, Joan Smith FT IN 16th-century Italy, Titian's nudes showed off the soft, rounded curves which represented the current notion of the ideal feminine body. In Spain, at the same time, women were
        FT  -  883 words
      • 776 18  -  BIOGRAPHY Reviewed by\ Christopher Lehmann-Haupt Nietzsche In Turin: An Intimate Biography By Lesley Chamberlain Picador, 296 pages NYT PERHAPS because their ideas loom larger than their personalities, what comes to mind first when one thinks of any of the great philosophers are
        NYT  -  776 words
    • PURSUITS
      • 801 19  -  What is the ultimate in bedroom luxury? It all depends on whether you want some quiet elegance or a more in-your-face extravagance, tamsuyem checks out the Pratesi and Versace collections TAN SU YEN PRATESI sheets are something for you to enjoy in the privacy of your home. "They
        801 words
      • 878 19  -  FURNITURE Akumi Hir&m&'s eclectic gallery is just the place for collectors with a yen for well-crafted tansn and mizny a from the Mes period By Susan Tsang IF YOU are looking for Japanese furniture, you should go to Akemi Gallery, but walk into the shop and you'll find
        CHRIS LOH  -  878 words
      • 898 20  -  CINEMA Heartbreak and hope merge exquisitely in Tie Sweet Hereafter, Atom Egqran's haunting, poetic retelling of the aftermath of a school bos accident By Susan Tsang VIEWERS who prefer killer icebergs and torrents of icy water in films like Titanic may
        898 words
      • 840 20  -  NIGHTLIFE Yon read that right. It's St Patrick's Day on March 17, and the Irish pnhs are whooping it np with green hair, green beer and era a leprechaun or two By Ben Munroe IRISH people in Ireland treat St Patrick's Day, March
        FILE PHOTO  -  840 words
      • Article, Illustration
        360 21  -  Compiled by M Yasotha MUSIC A Cappella A choral concert by The Philharmonic Chorus, conducted by Lim Yau. Mar 25 27, 8.15pm at Victoria Con cert Hall. Tickets: $10, $15, $20 $25 available at Philharmonic Choral Society, or fax: 741 3647. E-mail: singphilchorusfeletterbox.com Singapore Symphony Orchestra Lithuanian cellist
        360 words
    • EPICURE
      • 950 22  -  For those who like to get up late on Sunday, brunch provides the perfect opportunity to catch up on breakfast without missing lunch, says tamsuyhm TAN SU YEN IT'S SUNDAY, and you feel you deserve to be pampered after a hard week's work and more
        SIEW YAW HOONG  -  950 words
      • 996 22  -  CELEBRITY CHEFS By awarding six Michelin stars to Alain Ducasse, the judges are, in effect, consecrating the status of the 'consulting chef or food 'designer' By. John-Thor Dahlburg LAT-WP CAN great chefs turn out superb meals in two
        LAT-WP; FILE PHOTO  -  996 words
    • Article, Illustration
      799 23 As Good As It Gets Jack Nicholson plays a grouchy writer opposite Helen Hunt as a waitress in this romantic comedy. Nominated for seven Oscars, including Best Picture. Previewing at Lido, Changi, Hougang, Jurong, Choa Chu Kong, Century, Republic, Yishun, Bishan, Tiong Bahru, Boon Lay, Tampines, GVMarina, Orchard, Cathay,
      799 words
    • 122 23 Cathay Org Cathay 338-3400 Kast shore 346-1816 Orchard 235-8:i86 Picturehouse 338-3400 Yangtze 223-7529 B«V«k Empress 777-5867 Jubilee 454-1640 Mandarin 292-9401 Marina 338-97/9 Whitesands 585-1782 Bedok 4M%405 Bishan 353-8885 Boon Lay 792-2788 Broadway 454-9394 Majestic 533-9032 Marina 337-9488 Pavilion 786-5788 Tampines 8 786-5788 Tiong Bahru 274-6588 Yishun 257-7848
      122 words
    • TRAVEL
      • 1153 24  -  1 The ancient Buddhist caves in Dunhuang were once filled with priceless artefacts that soon got carted off by European adventurers. Rediscovered only this century, the caves are now open to the public, and what the plunderers left behind is still a sight to
        PHOTOS BY MARK GRAHAM FOR BT  -  1,153 words
  • Page 17 Advertisements



  • Page 20 Advertisements
    • 202 20 jt-- .nunmJf ■■rnwif 1 lL ML L. Übi Hi 4 H Ik Jw i ll' I I. —u. m Am I I dj I I [M J PflßP* 808 your company on the stock exchange? i*|i; j- ;-~iJ —I 1 J J J I- J \?/.S l ,> Tha§tjood new
      202 words

  • Page 21 Advertisements
    • 755 21 1171 i Presented (77% DinmClub r Offers personalised assistance W here to wiiiCj dine cind entertain... irnermiomt at over 175 offices worldwide. 290 4543 What Letter way to celebrate a great week tkan Sunday Brunch at The Cafe-in-The- Paris? Enjoy the finest brunch and service at only $28* per adult
      755 words
    • 106 21 rfj W S TW» NHIT MtTABBAWT SC floor Delight in a meal for four i and enjoy 25% savings i i on your next meal for two i CallB3l-6271f0r reservations qg Mandarin Singapore a zmm cam. J 333 Orchard Road. Singapore *****7. Tel: 737 4411 J 12 Feb to 30
      106 words


  • Page 23 Miscellaneous
    • 2084 23 TODAY'S TV V 4.00 TV Innovations. RECOMMJBIfDED vuiwiMO *30 See Sunday's Schedules. power his own work on the Great The Passion:Jjiverpool vs E 2JO Ketchup Vampires. White Way. The peri Basketball: NBA Jam 1 Friends HCr Son, Hero And Champion, detail is stunning and the 97/98. A 330 Saity's Lighthouse.
      2,084 words