The Business Times, 26 May 1998

Microfilm: NL21187
Total Pages: 38
1 38 The Business Times
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  • Title Section
    Masthead
    30 1 I WA jy r *—M I I I H i H I k II I JBf' W i I MITA (P) 110/12/97 85C SINGAPORE Internet: http://www.asial.com.sg/biztimes TUESDAY, MAY 26, 1998
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  • Article
    MARKET SUMMARY
    64 1 Q 3U (+d.97) U M&88 (-9.38) nnoov y U3MI (-7.03) ESU asf""" STOCK HABKET INDICES Monday Change XI COMP 570A6 ill NIKKEI 18,783.12 -18JI HANOSENO M44J3. -11.46 SET INDEX 358.90 +3.06 JAKARTA COMP __.439.56 -Mt MANILA COMP —2.114.48 -1477 TAIPEI WPI 8J14.M -KM SEOUL COMP 331.90 -24.15 CLSA
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  • Article
    FINANCE
    75 1 FOBEX BATES uss ss USS IM7 £(US$/S$ per 16» 1084 DM 1.763 0.934 YEN 137.1 UT MS 3.803 0.433 HKS 7.748 0113 BAHT 39.17 0 042 RLP1AH 10,700 0.015* •SttoMunta FUME RATES SINGAPORE* 7.88 KUALA LUMPUR 11.50 JAKARTA 28.00 BANGKOK 14.75 MANILA 22.90 HONGKONG 1015 TAIPEI 8.80 SYDNEY 8.45
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  • Article, Illustration
    Suharto family's business empire poised for break up
    971 1  -  Sons and close business associates may lose plum state contracts From! S N Vasuki in Jakarta INDONESIA'S former First Family and their close business associates coddled and privileged with plum contracts during Mr Suharto's 32-year reign are beginning to see the first
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  • Article
    Habibie bows to reform demands, fresh polls soon
    723 1  -  New leader proposes two-term limit for the presidency From S N Vasuki in Jakarta BOWING to public pressure for political reforms, President B J Habibie yesterday announced that Indonesia would revise restrictive electoral laws and hold fresh parliamentary elections "as soon as
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  • Article
    Yen's 7-year low fails to rattle region's financial markets
    309 1  -  But Korean stocks dive 6.8% to lowest level in 11 years By] R Sivanithy [SINGAPORE] The region's financial markets showed a schizophrenic side yesterday as a slide of the yen to a seven-year low of 137 against the US dollar and
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  • Article
    Full-blown recession unlikely this year: BG Lee
    431 1  -  By Ven Sreenivasan [SINGAPORE] Singapore is unlikely to be hit by a full-blown recession this year, Deputy Prime Minister Lee Hsien Loong said yesterday. But the Republic must continue to boost its fundamentals in order to stay competitive, he told members of the
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      126 1 IMgIPB Hongkong's Democrats sweep back into Legco Full report, Pg 8 Hie Property (Miihih Come July 1, more than 1.7 m Singaporeans will fed the Asian crisis in a very personal way they will have to pay more interest on mortage loans for their HDB flats, Pg 4 NWCh wags
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      16 1 Yen sinks briefly to 7-year low of 137 to US$, Pg 8 Market reports: Pg 18-22
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      230 1 Students' diithii Damning indictment against Prabowo. FuM report Pg 8 Jakarta must take ownership of reforms, Pg 10 Dr Habibie and Indonesia's future, Pg 10 Indonesian succession: Rrel tlep towards a solution, Pg 8 Pertamina slashing Slpore operations, Pg 0 S'pore properties: Renewed Indonesian interest, Pi 8 Foreign investors still
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      15 1 National Wageo Council urges wage restraint, Pg 2 Economists see 1.6 GDP growth in '98,Pg2
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  • SINGAPORE AT HOME & ABROAD
    • Article
      Financial software firm opens regional HQ here
      274 2 THE Belgium-based Financial Information Consulting Services Group (FICS), an international financial software company, yesterday opened its Asia-Pacific headquarters in Singapore. The group has been active in Singapore for the past three years. Its regional HQ marks its stronger commitment to Asia, which accounted
      274 words
    • Article
      National Wages Council urges wage restraint
      576 2  -  As part of guidelines, it also calls for non-wage business costs to be contained Byi Carol Eng FOR only the second time in its 26-year history, the National Wages Council (NWC) has urged wage restraint in the face of "significantly weaker" economic growth, lower
      576 words
    • Article
      Lock icon Economists see 1.6% GDP growth in '98
      372 2 Reuters A POLL of 13 financial institutions has projected growth of 1.6 per cent for Singapore's gross domestic product for 1998, compared with 1997's 7.8 per cent. For the second quarter, growth was forecast at 2.2 per cent, sharply down from the first
      Reuters  -  372 words
    • Article, Illustration
      Lock icon Leading index down 0.6% in Q1
      292 2  -  EYE ON THE ECONOMY Outlook By. Audrey Tan THE Composite Leading Index (CLI) fell in the first three months year-on-year its first quarterly decline since 1996 and marking what is possibly a turning point in Singapore's economic growth. The leading indicator of economic ac-
      Source:  -  292 words
    • Article
      Cost lesson for Sing Tel Mobile, Ml?
      425 2  -  Loss of existing customers costs US, Europe operators USs4b a year By 1 Teh Hooi Ling LOSS of existing customers or what is called churn costs US and European mobile operators more than US$4 billion (556.6 billion) each year, Andersen Consulting estimates. That
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    • Article
      Sun, NCB to set up $45m Asian Java venture fund
      250 2 SUN Microsystems Inc and the National Computer Board (NCB) will set up a $45 million Asian Java Venture Fund to help local companies develop and market Javabased applications and appliances. The fund will seek to partner other venture capital companies
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    • Article, Illustration
      Lock icon Outlook for condo sector fuzzy: Wing Tai chairman
      366 3  -  Bat market for competitively priced landed properties has bottomed oat By' Ven Sreenivasan THE market for competitively priced landed properties has bottomed out but the outlook for the condominium sector remains highly uncertain, says Wing Tai Holdings chairman Cheng Wai Keung. Speaking
      FILE PHOTO  -  366 words
    • Article
      HK woos S'pore firms to its trade fairs
      201 3 THE Hong Kong Trade Development Council (HKTDC) is out to woo local companies to take part in trade fairs in Hongkong via a roadshow at the Singapore International Convention and Exhibition Centre today. Said HKTDC exhibitions director CS Lee: "We want to
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      28 2 IQ SOFTWARE CAN MAKE YOU MORE PROFITABLE Fed-up! No one matches your Accounting reuuiremems Call BSS We Listen WECUCTBMIZE ffTTTSI BSS I /In- Most omplt'W in ountiniz Software
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      266 2 BroadcastAsh9E'* The sth Asia-Pacific Sound, Film Video Exhibition Conference 2-5 June 1998 World Trade Centre Singapore Incorporating: Held in conjunction with: Professional PaMaWflfl (SB Audio Technoiogy9B toOP«U/IHIO The 3rd Asian International Trad* Showcase br The 2nd Asian International Trade Showcase J Professional Audto Equpment, Services A Technology tor Cable SaMMe
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      25 2 THE WORLD S LEADING OFFSHORE COMPANY ARID TAX PLANNING SPECIALISTS BAHAMAS JERSEY BRITISH VIRGIN ISLANDS MAURITIUS CAYMAN ISLANDS SEYCHFLLES IRELAND ©WESTERN SAMOA n1 www.ocra.com IXI
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      542 3 Our Structured Trade Finance Network at work for you. THE CHALLENGE. Faced with fast-growing demand Philippines- THE SUPPORT. ABN AMRO Bank is one of the world's leading ptobased telecommunications service provider Smart Communications viders of multi-sourced ECA and project finance facilities, topping Project decided on a major network upgrade The
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  • FOCUS: PROPERTY
    • Article, Illustration
      HDB owners face higher rates
      679 4  -  THE PROPERTY COLUMN From July 1, they will have to pay more interest on mortgage loans for their HDB flats By Lee Han Shih COME July 1, more than 1.7 million Singaporeans will feel the Asian crisis in a very personal way they will have
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    • Article
      Under the hammer
      684 4 Property auctions coming up EDMUND TIE CO Tuesday, May 26 (2.30pm) at Grand Plaza Hotel. Ballroom II ient. 21,21A Trevose Cres: land with detached hse, 20,857 sq ft/FH* RsaidanM: 120E Tanah Merah Besar Lane: 3-sty semnO, 2,677 sq ft/FH* 107 Jin Haji Alias: 3-sty detached, 14,306 sq
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    • Article, Illustration
      Lock icon Singatronics boss set to sell Aussie hotels
      360 4  -  2 privately-owned hotels in Melbourne, Sydney could fetch As6om, say valuers Ang Wan May [SINGAPORE] Singatronics boss Eddie Foo is poised to sell two privately-owned hotels in Australia which valuers say could fetch As6o million (5561.9 million). Sources say offers have already been
      FILE PHOTO  -  360 words
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      596 4 IN THE GRAND COURT OFTHE CAYMAN ISLANDS Cause No. 78 of 1995 In the Matter of Bishopscourt (BS) Limited (formerly BARING SECURITIES LIMITED) and in the Matter of the Companies Law (1995 Revision) NOTICE IS HEREBY GIVEN that the Joint Official Liquidators of the above named company which is being
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      69 4 Industrial Building at Tagore Avenue ■pMjpMMMpMiWijB A freehold corporate building, ideal for showrooms and light I industries. I Site Area: 53,999.8 sf. J 25 strata units with total strata J floor area of 74,895.9 sf. Accessible via CTE, SLE, Upper Thomson Road Yio Chu Kang Road. Closing Date of Tender:
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      100 4 SHOWROOM/FACTORY AT ALEXANDRA ALEXANDRA ROAD 1 /Q r KEE HOAD jj JpJ I U G CHONG road j PwtuiMnnCfl i c«». /o 1 4 Estate y < O v y j j bahru^X A2-storey Showroom/Factory/Officc Building Prominent double road frontage HDB 99-yr leasehold wef 7.11.1955 (56 yrs left) Land area
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  • INDONESIA IN TRANSITION
    • Article
      8 soldiers, 6 officers suspected of involvement in students' deaths
      673 5  -  No names mentioned in announcement by Abri chief Wiranto Frornl S N Vasuki in Jakarta IN A damning indictment of former President Suharto's son-in-law Lt Gen Prabowo Subianto, Indonesian armed forces chief Gen Wiranto yesterday announced that eight soldiers and
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    • Article, Illustration
      Lock icon Flow of foreign investment to Indonesia dries up
      516 5 Reuters [MELBOURNE! Foreign direct investment in Indonesia's shattered economy has dried up and will not flow again until long-term political stability returns, investment experts said yesterday. Indonesia's economic collapse and recent civil unrest have burnt such a hole in foreign investors' pockets
      Reuters; AFP  -  516 words
    • Article
      Lock icon Bank Indonesia to be given more independence
      216 5 Habibie also pledges to set up special working group to pursue reforms AFP [JAKARTA] President BJ Habibie yesterday pledged greater independence for the country's central bank while vowing to set up a special working group to pursue economic reforms. Dr Habibie was quoted
      AFP  -  216 words
    • Article
      PM Goh's letter...
      233 5 ...to PresidentßJHabibie Dear President Habibie I extend to you my warmest congratulations on your appointment as the President of the Republic of Indonesia. I have followed developments in Indonesia with close concern. I watched "live" on TV the transfer of the Presidency from President Suharto to you,
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    • Article
      Habibie can help set stage for new govt
      1588 5 Suharto's exit and Habibie's succession are only the first steps in the solution to Indonesia's problems JAMES Castle, who has lived in Indonesia for 21 years, is chairman and chief executive of the Castle Group, which provides consultancy services to corporations doing
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    • Article
      Lock icon Prices of basic goods shoot up, shortage looms
      389 6 Reuters [JAKARTA] The price of basic commodities has skyrocketed after bloody riots in the Indonesian capital this month left thousands of shops and markets burnt and looted. Housewives said commodities like cooking oil, eggs, and flour were difficult to find and their
      Reuters  -  389 words
    • Article, Illustration
      Lock icon Habibie frees two prominent political prisoners
      350 6 AFP [JAKARTA] Indonesia's new president, BJ Habibie, yesterday granted amnesty to two prominent political prisoners in a gesture of national reconciliation, and aides said more could follow. A 1,000-strong crowd waited outside Cipinang jail for the release of trade unionist Muchtar Pakpahan and Sri
      AFP  -  350 words
    • Article
      Pertamina slashing its S'pore operations
      445 6  -  Hit by Asia crisis, the oil company will also close its London office: sources By Ronnie Lim [SINGAPORE] Hit by the regional crisis, Indonesia's national oil and gas company Pertamina is downsizing its operations overseas, starting with Singapore and followed by London, say insiders. However,
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    • Article
      Lock icon Bank Central Asia gets It rupiah in fresh funds
      203 6 AFP [JAKARTA] Indonesia's largest private bank, Bank Central Asia (BCA), has received one trillion rupiah (Ssls3 million) in fresh funds from its shareholders, a report said yesterday. "The BCA board of directors has met with the BCA shareholders and Anthony Salim
      AFP  -  203 words
    • Article
      Indon interest in S'pore property picking up
      355 6  -  Some buying into a weak market; most seeking short leases By. Abdul Hadhi [SINGAPORE] Some real estate agencies have detected renewed buying interest in the local property market from Indonesians who fled the recent turmoil at home. Jones Lang Wootton (JLW) director Daniel
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    • Article
      Bank NISP attracts suitors from Europe, HK, S'pore
      327 6  -  Indon bank says it also has discussions with OCBC By\ Siow Li Sen [SINGAPORE] Foreign investors are a rarity in Jakarta nowadays but potential investors are still making a beeline for Bank NISP. Bank NISP, Indonesia's fourth oldest bank, has until July
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    • Article
      Lock icon Suharto at home and in good health, says Tutut
      246 6 AFP [JAKARTA] Ex-president Suharto's eldest daughter, former social affairs minister Siti "Tutut" Hardiyanti Rukmana, said yesterday that her father was at home and in good health. "Father is here...all are at home," Ms Tutut said after handing over her ministerial post
      AFP  -  246 words
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      98 6 Wc provide consultancy services on offshore structures, shelf companies and incorporations in ALL jurisdictions including British Virgin Islands Mauritius Cayman Islands Hongkong Bahamas Samoa Full nominee, management, corporate secretarial and professional administration services are available. We specialize in offshore trusts, offshore banks, and captive insurance companies for qualified applicants. For
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      6 6 W*Z 7 k Vuanhe Zaobao fgqjgat
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      434 6 IN THE HIGH COURT OF JUSTICE No. *****3 of 1996 CHANCERY DIVISION No. ***** of 1998 COMPANIES COURT No. ***** of 1998 In the Matter of BARINGS PLC (In Liquidation) In the Matter of Bishopscourt (BGH) Limited (formerly BARING GROUP HOLDINGS LIMITED) (In Liquidation) In the Matter of Bishopscourt (BB&Co.)
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      1 6 CATS.
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  • REGION
    • Article
      Politics is hurting M'sia: report
      468 7  -  SINGAPORE UK research house sees GDP shrinking by 1.4% this year By' Ven Sreenivasan MALAYSIA can easily take steps to ride out the Asian crisis, but the reluctance to admit the problems and address them with market-based solutions has eroded confidence, depressed the ringgit and
      468 words
    • Article
      Lock icon Thai parliament passes economic reform decrees
      115 7 BANGKOK AFP THAILAND'S parliament yesterday passed crucial govern-ment-sponsored economic reform decrees, saving the six-month-old administration from a political crisis which could have forced it to resign. The four decrees, aimed at boosting liquidity and lowering interest rates, were voted on individually, with the first
      AFP  -  115 words
    • Article
      Fears over slump in volume on Manila bourse
      257 7  -  From Al Labita in Manila THE volume of shares traded in the Philippine stock exchange continued to fall yesterday, making brokers worried that a liquidity crisis was emerging. From over one billion pesos (5542.6 million) prior to the May 11 elections, turnover
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    • Article, Illustration
      Lock icon Pro-democracy parties sweep back into Legco
      661 8  -  But camp still outnumbered by conservatives and pro-Bering members From Loh Hui Yin in Hongkong PRO-DEMOCRACY political parties, led by the Democratic Party, swept back into the Legislative Council in Sunday's elections which saw a record voter turnout of 53 per cent. The Democratic
      REUTERS  -  661 words
    • Article, Illustration
      Lock icon Seoul bourse plunges 7% to 11-year low
      317 8 SEOUL AFP SOUTH Korea's stock market plunged 6.8 per cent to an 11year low yesterday despite the lifting of limits on foreign shareholdings as fears of labour unrest intensified. "Share prices fell from the opening, and the worst thing is, this is really
      AFP; Source: Bloomberg  -  317 words
    • Article
      Lock icon Top Korean bank shuts down 2 securities units
      158 8 SEOUL Bloomberg KOREA Development Bank, South Korea's biggest bank, said it will close two securities businesses and cut 10 per cent of its workforce to help weather the country's first recession in 18 years. KDB Securities and KDB Futures will close this
      Bloomberg  -  158 words
    • Article
      HK regulator acts to close broking group Ming Fung
      518 8  -  Irregularities alleged; units have insufficient fnnds to meet obligations From l Quak Hiang Whai in Hongkong THE Securities and Futures Commission (SFC) has moved in to liquidate yet another Hongkong securities trading and margin finance group after alleged irregularities by its
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    • Article
      Yen sinks briefly to 7-year low of 137 to US$
      508 8  -  This follows report of Rabin willing to see yen fall to 140 or 150 From. Anthony Rowley in Tokyo THE yen sank briefly to a seven year low of 137 to the dollar in Tokyo yesterday following an unconfirmed report
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    • Article
      Australia cuts number of planned hotel rooms
      376 8  -  SINGAPORE By. Ang Wan May THE Asian financial crisis has hit Australia's tourism industry, with some twothirds of planned hotel rooms in Sydney and Melbourne for this year being scrapped. Hotel consultants JLW Transact estimates in a recent report that only 400 new
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    • Article
      Lock icon Rupee hits new low after S&P outlook downgrade
      202 8 BOMBAY AFP THE Indian rupee fell to a historic low yesterday on panic buying of dollars after Standard and Poor's downgraded the outlook for India' 9 credit ratings in response to international sanctions over nuclear testing, a dealer said. The rupee closed
      AFP  -  202 words
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      95 7 SONY f 7 PUT SOMF SPARK INTO YOUR PRESENTATIONS INTRODUCING THE SLEEK,LIGHT AND BRIGHT M SONY VPI X6OOM AND VPL S6OOM LCD PROJECTORS •s. W- 11,»ln .khl MD>ec.isf bcxly S J Hifti it'soluiion iO?4 768 pwels (VPL-5600M.83? 624 pixels) UMi i bi igtu ouiptjt 600 ANSI lumens (VPL-S6OOM 6"»OANSI lumens)
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      32 8 THE SPIRIT OF THE SEA. p SUISSE Official general agent Luxtime Singapore Pte Ltd Boutique: 391 Orchard Road, #02-12E Ngee Ann City, Takashimaya Shopping Centre Singapore *****2 Tel: 735 7378. Internet: http://www.corum.ch
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      146 8 m to Over 200 Destination* Worldwide without torn the We at Interconnect Technology understand about the rising cost of doing business. That is why we've introduced Inter Fax. Our InterFax service network helps keep cost down and provides: savings of up to 60%, reliable customer support So make the smart
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      13 8 Japan's top 9 city banks write off 7.6tyen in bad loans, Pg 15
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  • THE WORLD
    • Article
      Lock icon Low inflation rate in Germany set to continue
      416 9 FRANKFURT Price reports all come within expectations despite value-added tax rise Reuters [FRANKFURT] Germany's low inflation rate shows few signs of increasing soon, giving the Bundesbank ample time to nudge up interest rates ahead of monetary union, national and state price reports
      Reuters  -  416 words
    • Article
      Lock icon European banks raised lending to Asia in '97: BIS
      311 9 BASLE, Switzerland N America, Japan banks cat portfolios in crisis-hit region AFP EUROPEAN banks boosted lending to crisis-hit Asian countries last year, while North American and Japanese banks pulled back from the region after turmoil struck, the Bank for International Settlements
      AFP  -  311 words
    • Article
      Lock icon US govt wrong to sue Microsoft: poll
      177 9 NEW YORK Bloomberg THE US Justice Department is doing the wrong thing by suing Microsoft Corp, according to a majority of Americans who have heard a lot about the case, a CBS News poll found. The Justice Department and 20 state attorneys-general last
      Bloomberg  -  177 words
    • Article
      Lock icon EU offers tariff cuts as reform incentive
      318 9 BRUSSELS AFP THE European Union yesterday offered developing countries tariff cuts worth up to US$B7O million (Ssl.4 billion) a year as an incentive to phase out child labour, recognise trade unions or adopt sustainable timber policies. The move, approved by EU foreign ministers
      AFP  -  318 words
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      21 9 •Tung Centre •Parkway Parade •A-Z Building •Paya Lebar Road For details, please contact owner: Tel: 437 6853 437 6872 534 3132
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      232 9 UNIVERSITY OF UNIVERSITY OF SOUTH AUSTRALIA LOUISVILLE Adelaide, Australia I 1 lIIBH Vi'il The To P 2S Business Schools" 1 Kentucky, USA o«bt Rlj %j] 0»b s TH*** IUI q \cmm 6 J| -V™*. M' PhD™ MBA Doctor of Philosophy in lpßo| Business Management 2nd Intake 18 June '98 sth
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  • EDITORIAL &. OPINION
    • Article, Illustration
      Jakarta must take ownership of its reforms
      749 10  -  BOTTOM LXME OPINION By Vikram Khanna The writer is BT's regional economics editor SEVERAL months before his resignation, on March 8 to be precise, President Suharto of Indonesia made a curious statement: that the economic reforms being negotiated with the IMF go against
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      IN OTHER WORDS
      141 10 'If you haven't been kissed by Mo in Northern Ireland, you must have been running very hard in the opposite direction.' Ulster Unionist Party councillor on British Northern Ireland Secretary Marjorie (Mo) Mowlam and the Northern Ireland peace process. He walked in, didn't look like he was
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    • Article
      President Habibie's right moves
      689 10 EDITORIAL INDONESIA'S new President B J Habibie, well-known for being a visionary, has demonstrated quickly that he can be a realist too. He acknowledged yesterday that the public at large was questioning the legitimacy of government, and that he could not possibly serve out a full
      689 words
    • Article, Illustration
      Lock icon Clinton tripped over China
      1038 10  -  White House hails its engagement policy towards China but this is now mired in US domestic politics By Leon Hadar The writer is BT's Washington correspondent ONLY a few weeks ago, following the return of US Secretary of State Madeleine Albright from a trip to Beijing
      FILE PHOTO  -  1,038 words
    • Article
      WHAT THE OTHERS SAT
      882 10 HK people show they car* HONGKONG people have been known to pull off surprises. They did it again on Sunday. Who would have imagined that in such rotten weather, they would shatter all voting records with an un-heard-of 53 per cent turnout? The most optimistic forecast
      882 words
  • Page 10 Miscellaneous
    • Miscellaneous
      Page 10 Miscellaneous Column 1
      33 10 POOHESBPRY By Garry Trudeau TH/SfS ROLAND HeBLSY ~ThC £VFM AST 9PBAK, QOZBNS ON CAPITOL HIU. AS SCRAMBUN6 N tWATJT OF NBW TOBACCO LOBBYISTS TWITCHING- V ARB BeJN6 7RAIN6P FOR. TRY IT AGAIN. IP
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      87 11 LIMBO DANCING, NEPTUNE STYLE. THERE'S MORE TO SEE AT um. SBB IfMpIUAC 7th Floor, Overseas Union House, Collycr Quay, Singapore *****1. Trt: 224 3722/224 3203 Fax: 223 485 12 Feb to 30 June Enjoy a Buffet meal in our Phoenix Garden Cafe and you could be our next lucky winner
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  • Page 11 Miscellaneous
    • Miscellaneous
      Page 11 Miscellaneous Column 1
      744 11 TV&RADIO ran Movies (Con't). 2.00 TV Innovations. ns.ni;««i(.rr»7>l—— irnninra 12 435 j ust Kidding. 3.00 Legend of Liu Bo Wen. £30 PM TV Innovations. 5.00 News 5 Today Followed 330 Pet House. 4.00 Kidz By Mot. 4.35 Hong Kong Today. j Goofs. 530 Real Adventures 5.09 Star In Person. 1
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    • Miscellaneous
      Page 11 Miscellaneous Column 2
      196 11 CRYPTIC CROSSWORD 1 Smooth call by actor at royal H 3 10 Briefly line up in plant (5) 11 Construct a brief act in play wards get in with both sides' I j I agreement sire a plaguey creature (6) jMt— 16 Upper-class and rich one Steange 28 Not even
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  • EXECUTIVE LIFESTYLE
    • Article, Illustration
      Lock icon Cannes honour for Angelopoulos
      599 12  -  The Greek director's mellow tale takes top prize amid the movies about incest and general debauchery at this year's film festival, says lee yamowitch LEE YANO WITCH Reuters GREEK director Theo Angelopoulos' poetic. melancholic film Eternity and a Day won the Golden Palm for best film
      Reuters; REUTERS  -  599 words
    • Article, Illustration
      Lock icon Rusedski and Henman crash out
      648 12 FRENCH OPEN Sampras cruises through; Riosand Hingis survive early nerves Reuters AFP [PARIS] Britons Greg Rusedski and Tim Henman, as ill at ease as ever on clay, crashed out of the French Open within four hours of the start of the tournament yesterday. Rusedski lost
      Reuters; AFP; REUTERS  -  648 words
  • Page 12 Advertisements
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      279 12 ||R9RaSfl H a season of new life, sunshine and cool, crisp air. And in Spring City Golf and Lake Resort, the splendour of Spring never ends. Here in Kunming, Yunnan, the southwestern province of China, you'll find our gently rolling fairways set in a breathtaking landscape of pristine lakes and
      279 words
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  • Companies & Markets
    • Article, Illustration
      Lock icon HPL, Datacraft shares hammered by rumours
      366 13  -  By' Wong Wei Kong [SINGAPORE] Hotel Properties' group executive director has dismissed as "ridiculous" market talk that controlling shareholder and managing director Ong Beng Seng is ill. The rumour, which raced through the bourse yesterday, hammered HPL's stock, which lost up to 12 per
      FILE PHOTO  -  366 words
    • Article
      Hedge funds offer interesting alternatives to investors
      849 13  -  HOCK LOCK SIEW R Sivanithy HEDGE funds. Any reference to these shadowy pools of money typically brings out nervousness in the markets, heightens stress levels and puts "genuine" players on the alert. But make no mistake about it, these funds are very much
      849 words
    • Article
      S'pore banks well poised to weather crisis: Moody's
      479 13  -  STATE OF THE BANKS Impact of region's turmoil on their credit standing Seen "wimal By i Conrad Raj [SINGAPORE] Singapore's banks are well positioned to weather the region's economic crisis and are likely to remain as among the highest rated in Asia
      479 words
    • Article
      Lock icon S'pore bank stocks attractive: analysts
      382 13 Buying opportunities seen for those taking a longer-term view AFXAsia [SINGAPORE] Banks still provide buying opportunities for investors who can wait a year for returns, despite the prospects of continuing high loan provisions and flat profits this year, analysts said. The recent rally apart, bank
      AFX- Asia  -  382 words
    • Article, Illustration
      Lock icon Nat Steel: Temasek's injection not a bailout
      408 13  -  Tie-up aimed at boosting core business By I Siow Li Sen [SINGAPORE] Nat Steel yesterday refuted suggestions that Temasek Holdings' injection of $57 million into the company via a placement of new shares was a bailout. Responding to questions from BT, Nat Steel
      Source: Reuters  -  408 words
    • REGIONAL COMPANIES
      • Article
        PhileoAllied's bank unit plans recapitalisation
        481 14  -  Plan submitted to Bank Negara, says group as it unveils dismal results From Eddie Toh in Kuala Lumpur PHILEOALLIED Berhad, which came to the rescue of Rashid Hussain in his protracted attempt to buy troubled Sime Bank recently, has hit a rough patch itself. PhileoAllied,
        481 words
      • Article
        Lock icon CP Pokphand seen restructuring debt
        246 14 Reuters [HONGKONG] Agribusiness group C P Pokphand Co Ltd faces a critical creditors' meeting this week, but analysts said it would probably achieve a debt restructuring which would enable its profitable China business to carry on. Creditors last month agreed to a temporary standstill on
        Reuters  -  246 words
      • Article
        Creative falls 3% as proposed acquisition fails to grip market
        376 14  -  Drop not unwelcome as price has been going up: analyst By Annette Pau [SINGAPORE] Investors were not impressed by Creative Technology's U5522.5 million (Ss37 million) proposed acquisition of an American chip design firm, judging by how the firm did in
        376 words
      • Article, Illustration
        Lock icon Crown secures vote to buy back management contract
        320 14 Bloomberg [MELBOURNE] Crown Ltd shareholders voted for buying back the management contract for the company's Melbourne casino from its largest shareholder, Hudson Conway Ltd. Shareholders voted 84.7 per cent in favour of the purchase in a poll taken at a meeting in
        Bloomberg; FILE PHOTO  -  320 words
      • Article
        Lock icon Bid to wind up K Fima fails
        101 14 Reuters [KUALA LUMPUR] Kumpulan Fima Bhd said the High Court of Malaya had dismissed an application to wind up the company. "The company announced that the company's application to strike out the winding-up petition was allowed by the High Court of Malaya and
        Reuters  -  101 words
      • COMPANY Briefs
        • Article
          Lock icon Aokam to bay timber harvesting rights
          72 14 Bloomberg [KUALA LUMPUR] Ailing Aokam Perdana Bhd plans to buy the rights to harvest timber from Idris Hydraulic Bhd as part of a restructuring plan. But it did not give details. Aokam is also discussing with creditors an arrangement that may include debt rescheduling,
          Bloomberg  -  72 words
        • Article
          Lock icon Globe to invest US$27.5m in projects
          65 14 AFX-Asia [MANILA] Globe Telecom, an associate of Singapore Telecom, has set aside U5527.5 million (5545.3 million) for its telecommunication projects in Mindanao island, company vice-president Joaquin Teng Jr said. Of the total, US$7.4 million will be used for its fixed-line phone network, US$ll million
          AFX-Asia  -  65 words
        • Article
          Progen revises net profit upwards
          39 14 [SINGAPORE] Progen Holdings has revised its net profit for the year ended December 1997 to $3.49 million from $3.33 million. The revision was due to an adjustment for overprovision of tax, the company said.
          39 words
        • Article
          Jaya in marine vessels venture
          56 14 [SINGAPORE] Jaya Holdings has formed a joint venture to own and operate vessels in the offshore marine sector and other related activities. It will own 70 per cent erf the venture, Jaya Century Pte Ltd, and its partner, Power International Investment Corp, the remainder. Power
          56 words
        • Article
          Informatics forms training venture
          23 14 [SINGAPORE] Informatics Holdings has formed a joint venture in England to run computer training schools for adults in Brazil.
          23 words
    • REGIONAL/INTERNATIONAL COMPANIES
      • Article
        Lock icon Samsung's talks with Ford stall
        113 15 Reuters [SEOUL] South Korea's unlisted Samsung Motor Inc yesterday said its talks on a possible joint venture with Ford Motor Co have been temporarily suspended. "Talks for a proposed joint venture have temporarily been suspended due to differences in viewpoints," Samsung spokesman Han Jae Yun
        Reuters  -  113 words
      • Article
        Lock icon Japan's top nine city banks write off 7.6t yen in bad loans
        466 15 S&knra latest of the top players to declare loss to tackle bad loan crisis AFP [TOKYO] Sakura Bank Ltd, the last of Japan's top nine city banks to announce results, yesterday reported a fiscal 1997 loss, from a
        AFP  -  466 words
      • Article
        Lock icon Japan engineering firms suffer slide in profits
        261 15 AFP [TOKYO! Japan's heavy engineering firms said yesterday they were struggling to weather the country's economic slump, admitting their profits slid in the past year to March. One of the top firms, Ishi-kawajima-Harima Heavy Industries Co Ltd (IHI), saw pretax profit slide 13.1
        AFP  -  261 words
      • Article, Illustration
        Lock icon The Gap to sell clothes worldwide through the Net
        290 15 FT [LONDON] The Gap, a major international clothing brand and retailer, plans to launch a worldwide shopping service on the Internet within the next 12 months. The move could provide a significant boost for so-called e-commerce by encouraging other international clothing
        FT; FILE PHOTO  -  290 words
      • Article
        Lock icon Dutch supermarket chains merging to become No 2
        121 15 Reuters [AMSTERDAM] Dutch supermarket chains Vendex Food Group and De Boer Unigro said yesterday they were merging in response to increased pressure on margins and an international trend towards consolidation. The new combine, in which Vendex Food will have a 45 per
        Reuters  -  121 words
      • Article, Illustration
        Lock icon Toshiba posts 2nd-half loss
        393 15 Low chip prices, poor consumer demand lead to 2J2b yen loss Bloomberg [TOKYO] Toshiba Corp of Japan lost a greater-than-expec-ted 2.21 billion yen (5526.5 million) in the six months ended March 31 as computer memory-chip prices crashed and Japanese household and corporate spending slumped. Thirteen analysts
        Bloomberg; Source: Bloomberg  -  393 words
    • FINANCE & COMMODITIES
      • Article
        Raw material prices tumble as Asia crisis bites
        344 16  -  Weakening demand in region for metals expected to delay recovery From Neil Behrmann in Lotuion THE Asian economic turmoil is hitting raw materials prices. Prices have tumbled as demand has weakened in the region which absorbs a significant proportion of global supplies.
        344 words
      • Article, Illustration
        Lock icon HSBC to grow Japan mutual funds business on its own
        325 16 UK firm's chief rules oat acquisitions or tie-ups to expand its market in Japan Bloomberg [TOKYO] HSBC Holdings pic will offer investment trusts in Japan through non-exclusive sales arrangements with local brokers and banks, said William Purves, chairman of the
        Bloomberg  -  325 words
      • Article
        Lock icon Credit Lyonnais to kick off new rescue plan with shares sale
        385 16 FT [PARIS] Credit Lyonnais plans to sell up to a third of its shares to institutional investors before the end of this year as the first stage towards the privatisation agreed in a new rescue plan approved by the
        FT  -  385 words
      • Article
        Lock icon Merrill in talks to buy Regent's Russian brokerage
        270 16 Bloomberg {LONDON] Merrill Lynch Co, the largest US broker, is in talks to buy the East European and Russian businesses of Regent Pacific Group Ltd, a Hongkong-based fund manager and securities firm, people familiar with the companies' plans said. The purchase, which
        Bloomberg  -  270 words
      • Article
        Lock icon JGBs at new highs on BOJ rate stand
        248 16 SfMTIX Report Reuters (SINGAPORE) Simex Euroyen futures inched up while Japanese government bond futures (JGBs) reached new highs yesterday, cheered by the Bank of Japan (BOJ) saying it would maintain an easy monetary policy. BOJ governor Masaru Hayami said that the central
        Reuters  -  248 words
      • Article
        Nasdaq falls hit Taiwan index futures
        173 16  -  MSC1 TAIWAN FUTURES Charlie Kuo Charlie Kuo. service dealer, Refco Singapore [SINGAPORE) The Simex MSCI Taiwan Stock Index futures contract dropped for a second day amid concerns on the pessimistic outlook of the computer industry. The com-puter-loaded Nasdaq Composite Index on Wall Street dropped
        173 words
      • Article
        Lock icon Iraq expects UN nod for new oil deal
        262 16 EMERGY REPORT Reuters [BAGHDAD) Iraq said yesterday it would hold up oil sales if the United Nations did not approve a new oil-for-food programme due to start on June 4. "If there is no (UN) approval on the distribution plan before June
        Reuters  -  262 words
      • Article
        Lock icon CURRENCY REPORT
        298 16 Reuters London THE yen lurched to its lowest in nearly seven years against the dollar yesterday and was seen sliding further, amid speculation the US may be forced to tolerate the loss of competitiveness due to its strong currency. Yen losses were triggered after yesterday's issue of US
        Reuters  -  298 words
      • Article, Illustration
        Untitled
        1253 16 nTTERBAIfg CROSS EATBS May 25 AS C$ NO ECU Ffr PwMK$teiti NpUfe Yet Won KM KZ$ Nfc ti P*w SSI— MrlTOM* Pmmt IBS Australia 0.907 6.178 0.561 3.699 1.103 4.M 25.664 66.955 0256 8.664 2.380 1.175 27.658 24.154 L031 3221 0.919 2L0T2 24* 0J84 0.626 Canada 1.102 5.724 0.618 4.076
        1,253 words
    • Article
      COMMODITY PRICES
      1860 17 SICOM FUTURES MnyM RUBBER (futures closing as It 5 30pm) RSS1 CONTRACTS cwitsAg) Close VohMM Open Month Hiqn Low Sett (tonnes) Interest Jun 98 127.00 127.00 127.00 i50 600 Jut 98 128.50 W5 Aug 98 129.75 129.75 128.75 100 2415 Sep 98 ***** 130.25 130.50 700 1315 Oct/Occ
      1,860 words
    • Article
      WORLD STOCK MARKETS
      2319 17 LONDON Industrials Mar 22 Nnct 31 Group 648.000 -2.000 AB Ports 356.000 -2.000 Abbey National 1090.000 13.000 Allied Domecq 622.000 -6.000 Ante 194.000 4.000 Asda Group 186.0Q0 2 000 BAT Ind 566.000 3.000 BG Pk 345 000 6.000 BtCC 170.000 -1.000 BOC Croup 977.000 -1.400 BR Petroleum
      2,319 words
    • Article
      Lock icon TOKYO
      1660 17 Bloomberg □18kka225 -18j53 JAPANESE stocks were little changed for a second day, as banks fell on concern bad loans will continue to weigh on profits while railroads and utilities rose as investors looked for companies offering the prospect of stable revenues in a weak economy. "There's a lot of
      Bloomberg  -  1,660 words
    • Article, Illustration
      Lock icon HONGKONG
      1537 18 Bloomberg Hang Seng -11.45 STOCKS were mixed in the slowest day of trading since December 1995. HSBC Holdings pic and other banks fell as their borrowing costs rose. Meantime, Sun Hung Kai Properties Ltd and some other property-re-lated companies rose after SHKP raised prices on some of its apartments,
      Bloomberg  -  1,537 words
    • Article, Illustration
      Lock icon CHINA
      638 18 Reuters Pi Shenzhen B Index j*L69 CHINA'S hard currency B shares closed mixed in thin trade yesterday and brokers said the market was likely to drift down further in coming days. Market talk circulated that the government would take steps to revive the B share market, but the lack
      Reuters; Source: Credit Lyonnais Securities (Asia) Ltd  -  638 words
    • Article
      Lock icon TAIPEI
      375 18 AFP QWP Index -70.82 TAIWAN stocks slipped 0.8 per cent yesterday on strong selling of technology shares due to investor worries that May corporate results would not meet expectations, dealers said. The Taiwan Stock Exchange Weighted Price Index dropped 70.82 points to 8,314.09. following a 0.2 per cent rise
      AFP  -  375 words
    • Article
      Lock icon WELLINGTON
      261 18 AFP CI Wellington -19.06 NEW ZEALAND stocks fell 0.9 per cent on light turnover yesterday ahead of the release of the central bank's monetary statement which dealers believe will lead to lower interest rates. The NZSE-40 Index was down 19.06 points to 2.218.65 on turnover of NZ$5B.l million. -AFP
      AFP  -  261 words
    • Article, Illustration
      Lock icon BANGKOK
      812 18 AFP PI SET Index +3.08 THAI shares rose 0.9 per cent in very thin trade yesterday as investors remained cautious ahead of a parliamentary vote on four crucial government-sponsored eco-. nomic reform decrees. Analysts said there was an initial rally in the morning session on the back of a
      AFP  -  812 words
    • Article
      Lock icon SEOUL
      423 18 AFP n Composite Index -2415 SOUTH Korean share prices plunged 6 8 per cent to a 11-year-low yesterday despite the lifting of restrictions of foreign investments as worries over labour unrest intensified, dealers said. "The lifting of restrictions did not help the market. Investors are more worried about the
      AFP  -  423 words
    • Article
      Lock icon SYDNEY
      591 18 AFP NAD Ordinaries +L 9 AUSTRALIAN share prices closed 0.1 per cent higher yesterday in directionless trade, brokers said. The All Ordinaries Index gained 1.9 points to 2.727.8 points. National turnover was thin, with just 175.56 million shares worth A 5424.07 million changing hands. The All Industrials Index edged
      AFP  -  591 words
    • Article, Illustration
      Lock icon JAKARTA
      693 18 AFP Composite Index -5.59 INDONESIAN shares fell 1.3 per cent on thin trade yesterday. with political reform plans announced by President B J Habibie failing to lift investors' sentiment. "The market did not show much improvement even though political announcements were made." an analyst with a local brokerage said.
      AFP  -  693 words
    • Article
      Lock icon MANILA
      333 18 AFP q Manila -14.77 PHILIPPINE share prices fell 0.4 per cent yesterday as investors waited for the government's release this week of economic growth figures for the first three months of the year. The Composite Index closed 14.77 points lower to 2.124.48. Turnover was thin at 328 million shares
      AFP  -  333 words
    • KUALA LUMPUR STOCK MARKET
      • Article
        Untitled
        8462 19 INDUSTRIALS Consumer products 1998 Last Vol Day N*t Cap High Low Company Sal* 'OOO High Law P/t Smtl 310 180 Ajmomoto 235 15 1 235 235 13.0 95.3 148 65 Anqkasa 73 1.7 107.6 290 123 Apollo Food Hlq 160 4.7 64.0 388 190 Benaya land 258 -9 22 258
        8,462 words
      • Article, Illustration
        Lock icon Market down 1.2% amid lack of leads
        404 19 AFP Bloomberg n Composite Index -6.68 MALAYSIAN shares fell 1.2 per cent yesterday on light profit-taking in the absence of fresh local and regional leads, dealers said. The Composite Index closed at 570.55 points, down 6.68 points from Friday. The Second Board Index
        AFP; Bloomberg  -  404 words
    • WARRANTS&OPTIONS
      • Article
        Untitled
        3583 20 BONOS, LOANS ft WARRANTS m l«8 Last V«t Day Last Ayg Mlgh Low St no Company Sal* *or- COOO) High Low Buyer Sailer 23.5 9 m 3000 m AMDB c5.5%*****6 12.5 20.5 8 3160 A Acer ******1USS '0 r.5 iu 95 8.5 3164 Acma ******4 r7 15 3161 AIITech ******7
        3,583 words
      • Article
        Keppel Land wrt: numbers appealing
        186 20  -  WARRANT WATCH -By R Sivanithy PROPERTY stocks are currently out of favour and only the brave would recommend a full-fledged buy on the sector. However, a few brokerages are starting to tentatively point out that the property market should bottom by the end of this
        186 words
    • Article
      CLOB INTERNATIONAL
      2383 20 Transaction date May 25 MALAYSIA* STOCKS Gr Cf 1996 Last Vol Day Last Ouote Mv Otv Yld Net M Cap High Lew Stno Company Sale COOO> High Urn Buyer Seder C'vr H P/t $m» 135 28 IDS 5000 AtSBSOc 60.5 *01 75 62 i9 60 60.5 10 31
      2,383 words
    • Article
      STOCK EXCHANGE OF SINGAPORE: MAIN BOARD
      6118 21 Transaction date May 25 Gf Or M Wt ■oog Last V«4 Day Last Ouot. Wv Dlv Yld Net Cap HH» Ln StNo Company Sato C000) H»j> L— Buyer Seder C'*r P/C Sm* Price INDUSTRIALS 43 M S a 1020 ACE Dynamics60c...19cd -0.5 1825 26
      6,118 words
    • Article
      SESDAQ
      1107 21 Gr Cr M Wt 1998 Lift V« Day Last Ou«ta Dt* D»v Yld Mat Ca# Av« Hl» Lwr 5tM» Cmm+tmy >•*» fOOOl W# L— l»>w Wtr >,l 134 80 2000 A8RMIdg»5c 80 -2 5 80 80 81 92 39.0 82 243 76 2049 ASAutolOc 128 *3 60 130 128
      1,107 words
    • STOCK EXCHANGE OF SINGAPORE
      • Article
        Untitled
        230 22 Stacks Volume Hotel Prop 8,284,000 SingTel 15c 6,803,000 •Rekapacific Bh 5,135,000 •M Resources 4,726,000 City Dev 50c 3,884,000 •RHB Cap Wt99 3,680,000 Wing Tai 25c 3,355,000 *MBf Capital 3,176,000 TACBtW 200 3,099.000 DBS Land 2,930,000 Mwto I City Oev 50c 25,406,324 SingTel 15c 16,910,912 SIA Foreign 16,221.255 SPH 15,708,634 DBS
        230 words
      • Article, Illustration
        HOT STOCK
        69 22  -  t -by Shiv Taneja WING Tai Holdings closed unchanged yesterday at $1 on a volume of 3.35 million shares, in line with its 10-day traded average of 3.37 million units. The weekly RSI and stochastics are heavily oversold. There could be some buying interest in the next few
        69 words
      • Article, Illustration
        Yen's slide, Korean stocks' plunge dampen sentiment
        738 22  -  STOCK MARKET COMXBMTABY Lingering concerns too about Indonesia's future; Hotel Properties and Datacraft shares hit by rumours By R Sivanithy [SINGAPORE] What appeared to be the makings of a tentative rise yesterday evaporated as the Japanese yen's alarming slide, coupled with a 7
        738 words
      • ON THE GRAPEVINE
        • Article
          Vote count and discount
          138 22 ENTERPRISING retailer Giordano on Sunday offered a 40 per cent discount to Hongkong shoppers who presented an election souvenir card with their purchase. The card was handed out to voters as they left polling stations in Hongkong's first elections under Chinese rule. Giordano later said its
          138 words
        • Article
          Doctor of hotels
          147 22 WITH the region's economies sick as they are, guess we could do with another doctor. So the Johnson Wales University of Rhode Island has kindly supplied one by conferring the Doctor of Business Administration in Hospitality Management to the boss of the Hong Leong group, Kwek Leng
          147 words
        • Article
          Better off in bad times
          118 22 WHEN the going gets tough, the tough, well, get it off. Remember the movie The Full Monty? It told the tale of a group of unemployed Sheffield steelworkers who stripped their way to stardom and a couple trf pounds in the process. Senna the movie
          118 words
        • Article
          How low can it go?
          79 22 tt&juus vk 11 or noi, Japanese investors were buying bonds yesterday, pushing up prices and bringing down yields on seven-year instruments to a new record low of 1,21 percent. Why? Because speculation was mounting that the Bank of Japan will act to lower interest rates.
          79 words
        • Article
          Taxi-rider's bill of rights
          106 22 TAKING a taxi in New York is an experience. This month, a BT reporter, on entering a taxi, heard a recorded message, "This is Placido Domingo (the opera singer). Please fasten your seat belt, as you are important to us. See you at the opera." Then
          106 words
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      754 14 xr\ LllOnG'S CIRCUITS (HDLDinGS) LimiTED (Incorporated in Singapore) vyv NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Second Annual General Meeting of the Company will be held at Hotel Inter-Continental Singapore, Bugis Vaults 2, 80 Middle Road, Bugis Junction, Singapore *****6 on Thursday, 11 June 1998 at
      754 words
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      Page 14 Advertisements Column 2
      664 14 A OSPREY MARITIME LIMITED (INCORPORATED IN SINGAPORE) IREBY GIVEN that the Annual General Meeting of the Company will be ie 1998 at 9.30 am at 6 Shenton Way #19-08 DBS Building Tower Two, 809 to transact the following ordinary business: and adopt the Director's Report and Accounts for the year
      664 words
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      Page 14 Advertisements Column 3
      16 14 Imprest your friends with an interesting snippet. RmJ Cats' Mews i« SiaJty Cl.uifiW ihit «t«kta4. CATS.
      16 words
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      1039 15 BUSINESS Notices IN THE MATTER OF THE COMPANIES ACT. CAP 50 AND IN THE MATTER OF YUDA TRADING PTE LTD (In Members' Voluntary Winding Up) NOTICE OF FINAL MEETING NOTICE is hereby given that pursuant to Section 308 of the Companies Act, Cap. 50 the Final Meeting of Members of
      1,039 words
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      Page 15 Advertisements Column 2
      199 15 Developed by medical professionals in the USA, COSMETIC TRANSDERMAL RECONSTRUCTION (CTR) is a first for non-surgical application of hair directly to the ctr scalp through a safe, dermatologically correct procedure. CTR was long thought unachievable hair that is not worn, intimately close hair but literally becomes a physical part of
      199 words
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      Page 16 Advertisements Column 1
      255 16 Do something different on your birthday. Dine at a great restaurant. Hung Kang Restaurant is one of the best in town that serves authentic Teochew food. And we've a choice of special birthday menus for a table of 10. Hung Kang Restaurant, the ideal choice for a superb Teochew meal,
      255 words
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      Page 16 Advertisements Column 2
      8 16 Pe/u'c/es a The Straits Times Classified Classifications 302-394
      8 words
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      Page 18 Advertisements Column 1
      83 18 told\ /The card we're\ I the computer you this was a making for Susan j I advertised in XIT7\V glxxl deaL Yup, we got what ts going to be J The Straits Times//. S {we wanted because real nice! p-^gP* —I jWmU" 1 Buyina or selling through 11 Classified. r
      83 words
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      Page 22 Advertisements Column 1
      685 22 &S3 ROYAL BANK I ggfff OF CANADA I FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED OCTOBER 31, 1997 I Consolidated Balance Sheet Consolidated Statement of Income (in millions of dollars) (in millions of dollars) Octobcr 31, October 31. Year ended Year ended 1997 1996 October 31. October 31. Assets 1996
      685 words
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      Page 22 Advertisements Column 2
      336 22 3E Tangtln Mall, every third Saturday of the month, spm -11pm l o l A Shipping Times Special Feature MONDAY 8 JUNE 1998 Transport Logistics Industry here poised for active, growth REGION'S DEVALUED CURRENCIES PUSH TRADE EXPORT UP. Singapore stands tall as a tower of strength and Topics featured will
      336 words
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  • SHIPPING TIMES
    • Article
      Lock icon FREIGHT MARKET
      311 23 Bridge News Reuters AS EXPECTED late trading on the freight market remained featureless with news of concluded business scarce as most of the major players here have already started their holiday weekend. H.,l fixtures TANKERS* There was little activity to surface in most sectors of the tanker market
      Bridge News; Reuters  -  311 words
    • Article
      maritime STOCKS
      282 23 wmmzmmmffimm ma n w CWT Distribution 0.57 -0.01 6 ChuanHup 0.41 -0.019 1* Cosco Invastmant .0.74 rmoMlMa 0-275 *0.005 GB Holdings 0.28 uncti 10 Mai Sun Hup 0.51 uncO 1] HRNNZWHI 0.665 -OOIS 22 IMC HoMbigs HK 5.60 Jay* Holdings 0.42 Jurang SMpyard _7.55 *0.09 206 KappalCorp 3.62
      282 words
    • Article, Illustration
      PSA aims to turn Genoa terminal into premier port
      494 23  -  Voltri Terminal Europa is PSA's first European port project By'. Marcus Hand [SINGAPORE] PSA Corp celebrated the official opening of its first European port project, Voltri Terminal Europa (VTE) at Genoa yesterday. The terminal was opened by PSA chairman Yeo Ning
      494 words
    • Article
      Lock icon Kemaman porfs RMl3Om wharf to be ready in Aug
      175 23 Bernama [CHUKAI, Terengganu] Kemaman port's new 130 million Malaysian ringgit (Sss6 million) wharf is expected to be completed in August, Terengganu chief minister Wan Mokhtar Ahmad said yesterday. The 515-metre-long West Wharf would be used by Gunawan Iron and Steel Sdn
      Bernama  -  175 words
    • Article
      Indonesia's container shortage may worsen
      368 23  -  Exporters competing for few containers available as business returns to normal By Felix Chan [SINGAPORE] It was business as usual for most Indonesian ports yesterday with activities slowly returning to normal in the Indonesian capital alter a tumultuous week of social unrest. But port officials
      368 words
    • Article
      Lock icon Patrick creditors postpone decision on restructure
      229 23 Bloomberg [SYDNEY] Patrick stevedoring"s creditors voted to delay a decision on the fiiture of its workforce as the company and the Maritime Union of Australia negotiate to try to end a two-month-old waterfront dispute. At a meeting in Sydney, Patrick's bankers and the union
      Bloomberg  -  229 words
    • Article, Illustration
      Lock icon Ideology upsets free market
      936 24 HAIPHONG FORT Rapid development of Vietnam's largest maritime gateway is in limbo as politics puts off foreign investment Cargonews China THE Haiphong port cluster is doing good overland business by road and rail with southern China. New container and bulk terminals are already in place around
      Cargonews China  -  936 words
    • Article
      INDEX TO SHIPPING LIMES AMD FREIGHT FORWARDERS
      247 24 PAGE Djak Lloyd 9 ACl 9 Dongnama 3 AML 3 ECl 5 Accord 8 6 Appenship 5 Eurohans 6 Astro 3 6 Austral 9 FoonqSun 8 BSA 7 J" 1 Batamindo 7 Router 6 Y 6 Hat Sun Hup 8 B'tang Mas 8
      247 words
    • Article
      Shipping Guide
      23887 32 THEBUSINESSTIMES THEBUSINESSTIMES EXPORT ETA ETA Advertiser V ess* Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN D*st'n Name Nam# Number Number SIN Dcst'n Nam# Nam# Number Numo#r MHM: IJ i 30/05 20/06 Ouadrant CITY OF LONDON 230* 65-*****44 A 31/05 18/06 Hyundai MM NOL CRYSTAL 303W 65-*****44
      23,887 words
    • SHIPS IN PORT
      • Article
        CONVENTIONAL WHARVES
        684 37 Vessel Voy No Barth Arrival Departure Jar of Pert Armada 5 37 JM alongside 25.05/2359 Bt Berkah 5MAY98 J01 alongside 25.05/2300 Bt lestari I *****8 J01 alongside 26.05/0800 Bt Stir li *****8 J01 alongside 25.05/2100 Bt Suriati 4 *****8 J01 alongside 26.05/0300 Bt Tika Set *****8 J01 alongside
        684 words
      • Article
        CONTAINER SCHEDULES
        1828 37 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Boofclnq/B«Unc* Rstls Ship VoyMo Etb/Btr Ptrtod from To From gas nss ss SSS7 5B ma gjg.gjg.jvjj. tt 25/T700 26/0659 26/0*00 21 25/1700 26/0*59 26/0*00 26/0700 26/115* 26/MOO 4 26/1200 26/M59 26/1700 y0221 27/ndo tt IS/ISM 25/85* 25/1*00 W 25/1500 25/1659
        1,828 words
      • Article
        GLOBAL HOLIDAYS
        182 37 May 20 Hong Kong: Tuen Ng Festival. May 20 United Kingdom: Spring Bank Holiday. United States: Memorial Day. May 30 Taiwan: Dragon Boat Festival Jan 1 Austria: Whit Monday. Belgium: Whit Monday. Brunei: Anniversary of Royal Brunei Malay Regiment. Denmark: Whit Monday. France: Whit Monday. Germany: Whit Monday.
        182 words
      • Article
        COCKETT BUNKER MARKET REPORT
        910 37 THIS report compiled by Cockett Marine Oil Ltd. show* price range* In US dollar* instead at lincle price* for a more oomprehemive description of the market. Prices shown are based on average*l*ed stem Market movements are indicated The Cockett Bunker Price Index change and the Individual
        910 words
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        VERITAS BUNKER QUALITY REPORT
        397 37 CirtM 180 Mu 992.2 0.9 18.0 0.11 46 0.07 >—u.. mt b m |Ah i|k i tynuMuin Srilmit No ifcOM C2S S 0 T" OjntltY *#t* «MJ*« =2=1 3ao A 986.8 0.2 16.5 0.06 32 0.03 JUS 380 Mu 9915 0.8 19.3 0.16 72 0.09 u/M*]
        397 words
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        Lock icon Air France pilot strike affects 30% of flights
        531 38 Union threatens strike in Jane unless carrier drops plan for wage cuts Reuters [PARIS] Air France was forced to cancel up to 30 per cent of its flights on Sunday after pilots from three small unions started a two-day strike to protest
        Reuters; REUTERS  -  531 words
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        Lock icon China car Mushy alarmed by Daimler-Chrysler merger
        211 38 AFX-Asia [BEIJING] The Daimler-Benz AG and Chrysler Corp merger has raised concerns in China's automotive industry, with the deal seen as a potential threat, the official China Daily Business Weekly said. Industry officials were quoted as saying the deal underlines the need to
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        Lock icon US nod for American-Taca alliance
        70 38 US nod for AmericanTaca alliance Reuters [SAN SALVADOR] Taca. a grouping of six Central American airlines, said it had received US approval for a strategic alliance with American Airlines after a two-year wait. A Taca spokesman told reporters on Saturday the US Transportation Department had confirmed the approval of a
        Reuters  -  70 words
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        Lock icon Swiss airline moves hub to Geneva
        156 38 AFP [GENEVA! Switzerland's third largest airline, Swiss Regional-Air Engiadina, has decided to abandon Zurich and switch its hub to Geneva, the French-language Le Matin reported. Small companies have access problems in Zurich, Switzerland's financial centre, while in Geneva, "we're greeted with open arms", Swiss
        AFP  -  156 words
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        Lock icon Air Lanka parliament debate slammed by press
        441 38 Key issues of airline sale not addressed by govt, opposition AFP [COLOMBO] Sri Lankan newspapers slammed both the opposition and ruling party for insulting each other instead of addressing key issues in a debate on a controversial airline privatisation. The parliamentary debate on
        AFP  -  441 words
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        Lock icon Controversial Narita airport continues to be dogged by problems 20 years on
        484 38 AFP [TOKYO] Tokyo-Narita airport last week marked its 20th birthday, but celebrations were muted with the main gateway to Japan still far from completion in the face of stern opposition from uncompromising locals. The airport's problems have multiplied
        AFP  -  484 words
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        AIRCRAFT ARRIVALS AND DEPARTURES
        1674 38 PIT FU6HT EM FUCOT ETC LH788 0635 Of05 2235 MUM 8A7381 1930 M7302 2055 "J™ Of81 1930 Of82 2055 *6 Ut7W S0229 2220 FM SOW 1710 $0990 0105 JUMtcrtM SO327 0755 KIJ44 0040 tmirtliWC S0803 1905 C2354 0910 6A975 0820 *1838 2300 C2351 2045 $0004 1020
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      18 23 Haiphong port: Ideology upsets free market Rapid development of Vietnam's largest maritime gateway is in limbo. Page 2
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      313 23 Pewfe Singapore Potytecbmc f Courses will iv# Tanker safety training courses run by the Department of Marine Technology Transportation, Singapore Polytechnic in May and June. All courses are 0830-1730 hrs daily. ~T~ z u Advanced Liquified Gas Tanker and Europe. KenLyon Safety May 25 29/ June 15 -19 Advanced Oil
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      152 23 Air France pilot strike affects 30% of flights Union threatens strike in June unless carrier drops wage cut plan. Back Page •6 0 R D R L E S S ffe qjjßF W *7 ijp x r T -v> f-5? IV'ien //if? leaders of nations and celebrities traveled to the
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      1101 25 SAX SERVICE (DIRECT) jvcsa voy sura I iax 1 oak I pal hou o« 001 m« m wrc HgTIH AUXAWPKtn 039 l 27/05 11/06 IS/06 15/06 16/06 15/06 16/06 16/06 17/06 17/06 AfITOURMAUNt 0171 03/06 22/06 22/06 22/06 23/06 22/06 23/06 23/06 24/06 24/06 API GAKMFT 003t 10/06 25/06 29/06
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      1948 25 I HANJIN SHIPPING HANJIN SWffING (S) PTE LTD Imp Ihmm. am (OOUNG 37*0235 737 SALE 37*0774 731 DOCUMENT 32******74 OffUnOK 32*0241 252 NUN UK *****55 HU 7721H0 O M **********QM TO NW USA A CANADA USA CANADA" HM VSI/VOY |MM JiHAUL/VOT SM HW I W ITO I<H I I w
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      382 25 FULLY CONTAINIRISID DIDICATID IHVICII TT IKB nK lytssa voy Ivessb I yoy mnmjktl VtSStL YOY SIN Ht6 YOY SO ffltG IH. USN WS pi*i I I v tt\K I»>Akl liMt 60WTANIA "wT 17/05 11/05 07W 20/05 24/04 24/05 21/0S 71/P5 mPmimf, IMS I jgjj 007S Inffipiffi] WBSSHOM IO7S 22/05 21/05
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      704 26 DSR-SENATOR LINES I NOW ACCEPTING REEFER CARGO TO USA EUROPE FAR EAST PORTS NEWSHIP AGENCIES PTE LTD SINGAPORE: TEL: BS4BIO FAX: *****30 TLX: RS ***** FOR ENQUIRY/BOOKINGS: JENNY/LAY C HtXVCATHERINE *****4V4043 PORT KLANG: SCSARAN MAIJM SDN BHD TEL: 03-*****88 (8 HUNTING LINES) FAX: 08-333(788 FOR ENQUIRY'BOOKINGS: MS TAN AIGEOK/MS. MARY
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      1350 26 MY LINE internet W«b Site http: //wwwyml.comtw fs, *H hk X *f* v O E ARRIVE. HXED DAYTUISOAr VESSEL VOV LEM FXT HAM AMR HFA SIN GIBRALTAR BRIDGE ABI6E SLD SLD SLD SLD SLO 19/05 MING GLORY ABI4E SLD SLD SLD SLO SLO 26/05 MING MOON ABISE SLO SLO SLO
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      438 26 LINE SBT TKL: *****56 FAX: ***** 12 MUARA ~j LABUAN VISSCL VOY ETC ETA VESSEI VOY FTO ETA SPOSE MUARA SPOtl UN Art*. GIOHY VIX/4I 24/0$ N/05 AP*tGU*Y VIX/40 24/0S JO/OS lptospbi vj«/w 31/ os 03/04 lpwspb yi«/* 3i/os m/o* AmGUXY VI4E/W 04/06 07/0* A«tGIO«Y VI4I/W 04/ M N/M i
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      1620 27 [vessel voy sin pgu pkg pen blw sur pub ba bik I IRAN VAHDAT PJL 1284 21/05 30/05 IRAN TAKHTI PJL 1285 28/05 0«/0« 07/06 IRAN TEYFOURI PJL 1287 05/06 14/06 15/06 IRAN MOBIN PJL 1293 20/06 29/06 30/06 ACCEPTING CONTAINER/BREAK-BULK SHIPMENTS TO INLAND POINTS IN IRAN CIS COUNTRIES I.E.
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      1233 27 DIRECT SAILING ~~1 TO SHANGHAI XINGANG j SINGAPORE'S GENERAL AGENTS: 6 SHENTON WAY TEL 226 1900 FAX: *****08 OUTWARD (B/L) 4205*02 JOHORE OFFICE; COSTAR SHIPPING PTE LTD (W-oihsiiog SALES/BUGS 4205M1/43 inward MPT (D/OJ *****85 COSTAR AGENCIES (M) SDN BHD CI NO: **********0X1 TOWIR TWO (06M09) CONVINTIONAt *****50/5S T/SHfMT D€PT *****25
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      617 27 l EASTERN CAR UNER, LTD 2 |E ECL (SINGAPORE) PTE LTD ,r specialize in roro t heavy lift upTO 122 towT| ECL (SINGAPORE) PTE LTD LOADING FOR PORT KLANG CHITTAGONG MV "LUNA AZUL" V.l 1 MV "WHITE FLORES" V.7 ETA SIN 25/05/98 ETA PKL 26/05/98 ETA SIN 28/05/98 ETA PKL
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      1332 28 EUROPE/UK/SCANDINAVIA/FINLAND/RUSSIA SGP RDM ANW HBG THP ZEE LHV LHV THP ROM ANW HBG PKL SGP E DEVELOP RW 001 30/05 19/06 24/06 20/06 22/06 23/06 24/06 E GARLAND RE 053 03/05 05/05 06/05 0405 06/05 01/06 02/06 E RACER RW 022 06 06 26/06 06/07 03/07 05/07 06/07 E GLOWING
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      759 28 \m, am MAC-WELS S'PQRE M'SIA Carrier: MN CONTR LINES* INC p. gudang: (07) *****26 l-fVVV~ J NO: **********00 S®U: (064) *****9 MANILA: (632) *****24 V v V PENANG: (04) *****36 BANGKOK: (662) *****57 SURABAYA: (31) *****0 P. KELANG: (03) *****77 JKT: (21) *****07 MPN: (61) *****3 KUCHING (082) *****1-3 TYO/YOK/UKB/OSA
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      400 28 NANTAI LINE FULLY CONTAINERISED SERVICE TO MAURITIUS SOUTH AfRKA VtSStl j VOY 1 SIN I PUJ DOR I CPT I I/IAV ham prince y.om 02/06 16/06 21/06 jjjjjMWjUS VO27S 11/06 21/06 24/06 01/07 04/07 GOLDEN DRAGON V 00SS 11/06 27/06 01/07 06/07 NAMTAI PRINCESS VO22S 23/06 13/07 10/07 HAMUI MM
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      384 29 BSA x 1 mm MYANMA PHk FIVE STAR LINE (Myonmor Nationol Line) Loading for Yongon (Rangoon) VESSEL VOY SIN KG PEN PGU MERGUI 143W SID ■AGO 102W Sl* MALAYSIA AGENTS: BOUSTEAD SHIPPING AGENCIES KUL TU 02-03-*****00 PKL Til 02-03-*****01 PfN: Ttl 02-04-*****02 PGO: TIL 02-07-*****21/4 BANK LINE (A service of
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      1223 29 I MERCHANT MARINE CO. LTD. VESSEL VOY 581 SOU UH RTM ANT HAW IRV Fa VPSE VgY SOU L» JTM_ _ANL J*i- JgL _S_ 15T am 302W 28/05 15/06 20/06 17/06 18/06 LA LORE 5201 08/05 09/05 03/05 05, 05 26/05 S23W 29/05 9/06 20/06 14/06 16/06 NOl AMAZOMTE 0151
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      1102 29 EBB mt MM norwegon speco*/ed outocorrwrj QsSSXS mm mmi//v£s TO NORTH AND LATIN AMERia RORO HtAVYLIFT S®VKT [VISSiL VOY RAMP HEIGHT SIN LAX CJKL MtA SAV Ml OtF NYC I NEW IMM TMAS fSTI 400 Tms 63M OT76* 25/0* 04/07 07/07 09/07 11/07 12/0/ 13/07 18/07 lf/07 TO!A FBl2 400
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      694 30 BAHQKOK/LAIM CHAIANQ J AKABTA/PANJ AMO VESSEL VOY SIN BKK LCH VESSEL VOY SIN JKT PJ" Km BHUM" SSN 26/05 29/05 VIRA BHUM 212S In Pt 29/05 28/05 BAN! BHUM 99N 26/05 30/05 29/05 GURU BHUM 79S 27/05 31/05 SINO OCEAN OCN 081 27/05 30/05 GURU BHUM 7958 28/05 31/05 NANTA
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      446 30 BINTANG MAS SHIPPING PTE. LTD. 39 NEIL ROAD, SINGAPORE 0206 '■JV TEL: *****68 FAX: *****64 TLX: R*****6 SINMER Blil CR No: **********0W Receiving Cargo at PTI I Bintulu I I Mum I VESSEL VOY SIN ITU VlSSll VOY SIN MUA 8 Beiott V9807E 3HI/06 06/06 NPwri V9809E 27 21/05 02/04
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      893 30 m /ICCORD A SHIPPIWO PTE LTD K±B TIL: *****15 (40 lims) FAX *****30 K*T UAHG (OS) U7 1001 B wL DIRECT ACCESS YEL *****5S (EXPORT BOOKING) M* CUOAMC (07)351 IS// *****34 (EXPORT DOC), *****39 (IMPORT) tfNAMG (04) 537 1449 URLHTTP://WWW.ACCORD.COM.SG JAKAKU (71) *40 0770 pokt ra tin pout m sin
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      423 31 INDONESIANATIONAnN^I TO EUROPE EXPRESS SEMI-CONTAINERISED SERVICE VSI VOY A OAM/R DAM H IUNG BREMEN ANTWERP A VESSEL 47W8 |l^2o l 6_| 22/07 27/07 OMIT 02/0S TO AUSTRALIA j FULL CONTAINER SERVICE VJM. FWE DNE STD Mtt HBA AM. FBI KASUGAI V 09S »t» 3MR IMB U« 15.06 IMM 21« PtONEOUOYDRMSMNE
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      950 31 ADVANCE CONTAINER LINES (PTE) LTD J8 I 140 Cecil Street #12-00, PIL Building, Singapore *****0 TEL: *****21, FAX *****19, TELEX :RS ***** ACL PL CR NO. **********0E OPERATIONS: *****6 ft *****05 BANOKOK JAKARTA (Weekly 5 »lgi PAT/1 Sl|s LCM/1 Sl| BMT) v ctll vnY ™ikk VESSB. VOY SIN JKT rrrn
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      911 31 ypgRFLS VOY SIN *"1 JED MLA LEH HAM TUP RTM ZEE WU-E DE MIMOSA V26W CKVQ6 11/06 16/06 21/06 23/06 24A» 2S/06 25/06 VtXE DE TANYA T26W 09/06 WO6 23/06 28/06 30/06 02/07 03/07 08/07 VRJ-E DE TAURUS A26W 16/06 2S*O6 30/06 06/07 06*07 06/07 06/07 00/07 VtLLE D AQUARIUS
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      51 34 Ill—m ill 111 111 STElfl Dial 740-6000 on demand (Retrieve more schedules!) Press "1" Select the port and key in STifcJ the four digit code eg: To New York (NYC) 2275 Key in your fax number your phone number Another innovative service offered by CTCM The document Will be Shipping
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  • Page 37 Miscellaneous
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      137 37 Reg^ 100E SV V^~~«^ LEGEND: R Thunderstorm Temperature c X\ V Shower Weather Wind direction with speed m knots Rom vJ Cloudy Sky Wove h 9 h Surface winds ore mdkoted by arrows which Hy with the wind One fu» circle represents cotm or light and variable wmds J__* One
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