The Business Times, 9 June 1998

Total Pages: 40
1 40 The Business Times
  • 13 1 THE BUSINESS TIMES MITA(P) 110/12/97 85« SINGAPORE Internet: http://www.asial.com.sg/biztimes TUESDAY, JUNE 9, 1998
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  • 70 1 □sr n U2&57 (-39.89) BT-SM ***** (-19.16) nBTOOHP U 97X10 (-32.10) fnBTMGA Lfls6U4 (-21.11) fyMAUETMOOD: 14 Dm woci MiiiBT mwcES Monday Change KLSE COMP 497.79 -7 M NIKKEI ***** 71 -28.72 HANG SENG 8JHC.63 +17.16 SETT INDEX ***** -S.7S JAKARTA COMP 408.42 419 MANILA COMP 27.17 TAIPEI WPI
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  • 76 1 F0BEX1ATES ust ss us$ 1.7 n £(US$/S$per£) 1.632 2.793 DM 1.777 0.963 YEN 140.4 1118* RM 4.063 0.427 HKS 7.741 6.221 BAHT 43.46. 0.039 RL'PJAH 11.706 6.016* St to too unta PRIME BATES SINGAPORE* 7.88 KUALA LUMPUR 11.50 JAKARIA 58.60 BANGKOK 14.75 MANILA 52.90 HONGKONG 10.26 TAIPEI A8# SYDNEY
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  • 1018 1  -  Move is part of 5-pronged plan to make S'pore an Asian financial hub By I Conrad Raj [SINGAPORE] In a radical move to lift banking disclosure here to international standards, Deputy Prime Minister Lee Hsien Loong announced last night that Singapore
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  • 449 1  -  More weakness ahead unless central hanks act in concert By Larry Wee [SINGAPORE] Asian currencies tumbled through key levels as the yen finally broke through 140 to the greenback in Asian trading yesterday. As the yen fell to a low of 140.70
    Source: Bloomberg  -  449 words
  • 54 1 Aussie goes under 60 [SYDNEY] A Bankers Trust trader watching the progress of the Australian dollar on the Queen's Birthday public holiday in Sydney yesterday. The Australian dollar has slumped to under 60 US cents for the first time since July 1986, with the currency trading at 59.70 US cents.
    AFP  -  54 words
  • 311 1  -  Brokers cite yen's fall, Wee Cho Taw's slowdown comments By\ R Sivanithy [SINGAPORE] Regional stock markets took a further drubbing yesterday from weakening currencies and worries over the worsening economic crisis. In Singapore, the Straits Times Industrials Index fell a hefty 39.89 points or
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  • 472 1  -  Company statement to SES says family to divest 50.6% stake By\ Louis Beckerling [SINGAPORE] The Jumabhoys are selling their entire controlling interest in Scotts Holdings, after having fought a long-drawn and costly courtroom battle over the family's shares in the service
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  • Page 1 Advertisements
    • 113 1 IMBUIH Wags carte far dvil For the first time since 1966, civil servants will not get any NWC wage increase this year, P* 2 Moving ti Singapore Hitachi is shifting a large portion of its dynamic random access memory (DRAM) chip production from Germany and Japan to Singapore, Pg2 Mi——i
      113 words
    • 10 1 Wall St safe from bears if economy's intact, Pg 15
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    • 41 1 No hidden reserves: bank shareholders benefit, Pg 3 BO Lee's speech, Pg 5 BIS annual vaport Asian woes could get worse: BIS, P0 f China may devalue yuan, say forex chiefs, y( B! On A ifl m i E j Wx
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  • SINGAPORE AT HOME & ABROAD
    • 503 2  -  Va -month cut in July bonns; Dec payout to be set when economic picture is clearer By i Carol Eng FOR the first time since 1988, civil servants will not get any NWC wage increase this year while the variable bonus
      Source: FMD  -  503 words
    • 377 2  -  Plan is to consolidate output to two liases in S'pore, Japan By, Jennifer Lien JAPANESE conglomerate Hitachi is shifting a large portion of its dynamic random access memory (DRAM) chip production from its plants in Germany and Japan to its joint venture Singapore plant.
      377 words
    • 214 2 PRIME property in Singapore is the second most expensive in the world, surpassed only by luxury homes in London, according to US-based property company Corcoran's International. The 1996 edition of Corcoran's report on the most expensive cities in the world, prepared in April,
      214 words
    • 269 2 MOTOROLA Inc's announcement last week of 15,000 layoffs worldwide has no immediate impact on its Singapore workforce yet, a spokesman said on Friday. But announcements on where the layoffs will occur could be made in the next few weeks as the
      269 words
    • 225 2 GEMSAFE, a smart cardbased solution against e-mail spoofing and illegal corporate intranet and extranet access, was launched worldwide yesterday by the world's leading smart card manufacturer, Gemplus. The solution package consists of a Gemplus smart card, a smart card reader and installation software.
      225 words
    • 395 2  -  EYE ON THE ECONOMY Outlook By Kan Yi Kang OVERSEAS Union Bank (OUB) has cut its forecast of economic growth for 1998 to 1.7 per cent, "with risk to the downside", the bank said. It sees the economy growing 2.1 per cent in the
      395 words
    • 515 2  -  Staff expansion not a 'boll market' action: Asia-Pacific chief By i Catherine Ong SALOMON Smith Barney has dismissed criticisms of its aggressive hiring of staff amid a severe downturn in Asia's financial markets, saying that its present strategy isn't "dependent on a bull
      ARTHUR LEE  -  515 words
    • 376 2  -  By Ven Sreenivasan THE Singapore economy is unlikely to slip into recession this year as its growth will be fuelled by healthy external demand from its key US and European markets, according to SG Securities. The Singapore-based broking unit of FVench financial
      376 words
  • Page 2 Advertisements
    • 123 2 The best For fine Cantonese food with extraordinary value, Hua Yuen is where you should meet! Only the Hua Yuen Chinese Restaurant offers superior Cantonese cuisine in a comfortable and relaxing setting that is ideal for discussing business. Lovingly prepared by our Hong Kong Master Chef Li Chak and his
      123 words

  • ABS' 25TH ANNIVERSARY
    • 722 3  -  Bankers hail govt move to increase transparency in banking sector By\ Siow Li Sen Ven Sreenivasan BANKERS have embraced the government's decision to do away with banks' hidden reserves, agreeing with Deputy Prime Minister Lee Hsien Loong that it will allow investors to
      LIM SIN THAI/THE STRAITS TIMES  -  722 words
  • Page 3 Advertisements
    • 116 3 It's tough times like these that bring out the best. 1998 Enterprise 50 nominations are now open Companies can nominate themselves by completing the official nomination form. Companies must be home-grown, privately-owned and incorporated under Singapore's Companies Act (1994 Revised Edition) with four years of audited statements. Nomination forms are
      116 words
    • 135 3 Buy It. Sell It. Find It. Classified. ff& CATS. Call Today For Results Tomorrow. 1800-737-1166 Emirates, Airline of the Year. See inside for details. At this year's OAG Airline of the Year awards, Emirates walked off with Best Airline for Food and Wine, Best Cabin Crew and Best Economy Class,
      135 words

  • FOCUS: PROPERTY
    • 503 4  -  Industrial sites for Linkpoint Place stalled due to slow demand fty. Ang Wan May [SINGAPORE] WORK on Far East Organisation's three industrial sites in Tuas, for which it paid a total of $250 million, has stalled for at least a year now due to
      503 words
    • 945 4 Property auctions coming up THURSDAY, JUNE 11 (2.30pm) Grand Plaza Parkroyal, Ballroom 1 iOIHCIOV ilUlt 34 34A Berwick Dr: pair of 2 1/2-storey semi-D,2,659 2,637 sq ft resp/999 yrs" 827 Mountbatten Rd: 2-storey semi-0,6,011 sq ft^H" 66 Emerald Hill Rd: 3-storey conserved building, 1.506 sq fW=H" 139/141/143/145
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  • Page 4 Advertisements
    • 497 4 SHOWROOM/FACTORY AT ALEXANDRA z' ALEXANDRA ROAD —7if— C Carnage I**l o LENG KEE ROAD <f/ /■tr*aa*A L__ht>Zj~" /W/\ *U*G CHQNG RQAn Performance 741 —ss!_v J j XOK BAHRQ^X A 2-storey Showroom/Factory/Office Building Prominent double road frontage HDB 99-yr leasehold wcf 7.11.1955 (56 yrs left) Land area 30,870 sf Built-in area
      497 words
    • 179 4 ♦The Property Column hai been held over Corporate Industrial Building in Tampines FOR SALE Land Area Approx. 161,500 sq ft Built-in Approx. 108,000 sq ft Tenure HDB lease 30 +30 years w.e.f. 1989 Excellent condition Ideal for corporate identity F6r more details, please contact Sole Marketing Agent CB Richard Ellis
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  • FOCUS
    • 3893 5 We reproduce below the full text of Lee Hsien Loong's speech which he delivered yesterday at the 25th anniversary dinner of the Association of Banks in S'pore I AM happy to celebrate with you ABS' 25th anniversary. Your growth as an industry association has
      LIM SIN THAI/THE STRAITS TIMES  -  3,893 words

  • ASIA'S ECONOMIC SLUMP
    • 545 6 BIS ANNUAL REPORT International loans to Asian non-banks dropped by USs9b in Q4; bank still upbeat on world economy AFP Reuters [BASEL] The worst of Asia's troubles may be yet to come, the Bank for International Settlements warned yesterday,
      AFP; Reuters  -  545 words
    • 526 6 US$ should be 21% lower against mark, 33% lower vs yen Bloomberg [LONDON] The US dollar is "noticeably overvalued" on a trade-weighted basis, by 21 per cent against the Deutschemark and almost 33 per cent against the yen, the Bank for International Settlements said yesterday.
      Bloomberg  -  526 words
    • 516 6 But HE chief exec says he does not see Beying devaluing the currency Bloomberg [GENEVA] China's currency may be devalued in coming months to help its exports compete with trade rivals whose currencies have tumbled recently, said the heads of foreign exchange at
      Bloomberg  -  516 words
    • 384 6  -  But they're more upbeat about European bourses From, Neil Behrmann in London AFTER being optimistic in the first quarter, US and UK fund managers have become highly bearish about prospects for Asian equities, according to a June survey by Gallup
      384 words
    • 529 6  -  It also slides against mark, in ihwo of intervwiitira; Nikkei dips 29 points From, Anthony Rowley in Tokyo THE yen fell decisively through 140 to the dollar yesterday and also touched a sixyear low against the German mark and other currencies, as foreign exchange
      REUTERS  -  529 words
    • 570 6 Unit breaks crucial 60 US cent level to 59.71/76; seen tailing lower today Reuters [SYDNEY] The Australian dollar plunged towards an all-time low yesterday after US and other hedge funds renewed their speculative attack, forcing the currency through the crucial 60 US
      Reuters  -  570 words
    • 444 6  -  7b-8b baht invested through private vehicle SC Asset From Harish Mehta in Bangkok THAI telecoms tycoon-turn-ed-politician Thaksin Shinawatra is taking advantage of the economic crisis and relentlessly buying discounted commercial complexes and apartments across the nation, a local newspaper reported
      444 words
    • 400 6  -  Yam says govt should be flexible on land, housing policy From< Quak Hiang Whai in Hongkong HONGKONG Monetary Authority chief executive Joseph Yam yesterday said the economic slowdown in Hongkong would extend into the third quarter and that the government needs to
      400 words

  • REGION
    • 588 7  -  Opposition leader aid head of Islamic group to decide in 3-4 months' time Prom Shoeb Kagda in Jakarta WITH one eye on the presidency, opposition leader Amien Rais is considering forming a new political party to contest the next general election. Speaking
      588 words
    • 747 7  -  Mm pats some 26 private power projects in jeopardy From\ S N Vasuki in Jakarta IN a decision that has serious implications for foreign power companies with contracts in Indonesia, the state-owned utility PT PLN has cancelled a power purchase agreement with a firm
      747 words
    • 166 7 JAKARTA Reuters INDONESIA's former president Suharto plans to hold a news conference today when he is expected to counter charges of illegally amassing a fortune, the Jakarta Post reported. Since Mr Suharto's retirement on May 21, the former first family has faced mounting pressure
      Reuters  -  166 words
    • 319 7 KUALA LUMPUR M'si&n premier says govt can conduct trade by barter AFP Bernama Reuters MALAYSIA'S Prime Minister Mahathir Mohamad yesterday said the government was no longer worried by the fluctuations of the Malaysian ringgit. "We are not very concerned anymore," he was quoted
      AFP; Bernama; Reuters  -  319 words
    • 418 9  -  From Quak Hiang Whai in Hongkong PROPERTY consultant Brooke Hillier Parker (BHP) yesterday unveiled what it claimed to be the first singlepurpose property investment fund in Asia that will back a project in mainland China. BHP, which is the asset manager
      418 words
    • 380 9  -  SINGAPORE First batch to include ships, coal, electronics and machinery: report By- Lu Ning CHINA will unveil this month the first batch of sectors that will enjoy increased export tax rebates, the state media said. The list would include the exports of ships,
      380 words
    • 300 9 ISLAMABAD AFP FORMER Pakistani cricket hero Imran Khan on Sunday offered to raise US$l.5 billion (552.6 billion) within six months for the Self-Reliance Fund (NSRF) if the government guaranteed transparent utilisation. Prime Minister Nawaz Sharif should pledge the donation would be used
      AFP; FILE PHOTO  -  300 words
    • 319 9 WASHINGTON Congress' misgivings not seen preventing automatic renewal Bloomberg [WASHINGTON] The US Congress will probably renew China's "most favoured nation" trading status, even though the issue is clouded by allegations that the country sought sensitive US satellite technology, Senate Majority Leader
      Bloomberg  -  319 words
    • 372 9 PAL pilots' strike Strike by pilots has scared investors away, says airline AFP [MANILA] Philippine Airlines (PAL) said yesterday it was on the verge of bankruptcy after potential foreign investors called off talks following a crippling pilots' strike which entered its
      AFP  -  372 words
    • 271 9 NEW DELHI Settlement reached over control of joint venture firm AFP THE Indian government and Japan's Suzuki Motor Corp agreed a peace pact yesterday, ending a long-running power struggle over control of their joint-venture car company. Parliament heard that Suzuki had agreed to
      AFP  -  271 words
  • Page 7 Advertisements
    • 21 7 •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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  • Page 8 Advertisements
    • 139 8 I YOU'VE OOT $71® MILLION TO IMPROVE I I THE LIFE OP THE BUSINESS TRAVELER. I I I I Ho w do you spend it? I I 41 I l I I ur I i Hfc Js Mdi I To give all our customers a piece of the pie, we're
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  • Page 9 Advertisements
    • 175 9 UNIVERSITY OF UNIVERSITY OF SOUTH AUSTRALIA LOUISVILLE Adelaide, Australia TO 2s B Sch lS OfUH o*°* zvou* IUJ ivjßP* Jtepl gglSra sjl JLtfrl phdHmba Doctor of Philosophy in 1891 -tz—l Business Management 2nd Intake 18 June 98 I Intake •28 June '98 Nationally accredited by AACSB The First and Only
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    • 141 9 *jmt: Br Mil r kSZ/lanning the next With the right financial resources behind you At IFS, we help tomorrow's movers and shakers make the right moves today Because we understand how Factoring can meet the needs of a business that's growing, through Credit Risk Protection and Assessment and Immediate Cash
      141 words
    • 12 9 **«■<!• oa der PAL to take back sacked pilots, Shipping Times Pg 16
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  • THE WORLD
    • 413 10 LONDON He says he intends to bear down further on govt spending, borrowing Reuters BRITAIN'S Chancellor of the Exchequer, Gordon Brown, announced yesterday he intended to bear down further on government spending and borrowing in a bid to reduce tyie national debt.
      Reuters  -  413 words
    • 361 10 LONDON FT THE French government is to allow banks to freely determine interest rates payable on a range of taxable savings accounts, in a significant step towards the deregulation of the financial services sector imposed by the creation of the
      FT  -  361 words
    • 110 10 LONDON Reuters BRITISH train operator Virgin Rail, part-owned by billionaire entrepreneur Richard Branson, is expected to announce plans for a £250 million (***** million) flotation next week, sources said yesterday. Final fine-tuning of the flotation is underway this week after rail regulator John Swift
      Reuters  -  110 words
    • 427 10 LONDON May data shows still subdued pressures at start of supply chain Reuters CORE output price inflation in Britain fell to its lowest level for over 30 years in May, official figures showed yesterday, confirming price pressures at the start of the
      Reuters  -  427 words
    • WORLD Watch
      • 59 10 AFP [ABUJA] Nigerian leader Sani Abacha died at dawn yesterday, army chief of staff Abdulsalam Abubakar announced. Diplomats attending the annual summit of the Organisation of African Unity in Ouagadougou said Gen Abacha had already been buried at his birthplace of Kano in northern Nigeria. He died
        AFP  -  59 words
      • 69 10 Reuters [LUXEMBOURG] European Union foreign ministers yesterday banned new investments in Serbia to demonstrate to Yugoslav President Slobodan Milosevic that the EU will not tolerate the use of military force in Kosovo. The statement said the EU remained ready "to press ahead with other
        Reuters  -  69 words
      • Article, Illustration
        63 10 Reuters [LISBON] A model presents a dress decorated with crabs, dolphins and plants on the Design 21 Fashion Show at the Expo-98 World Fair on Sunday. Hie second edition of Design 21 devoted to the theme of the oceans and promoted by Unesco for emerging fashion designers
        Reuters  -  63 words
      • 54 10 AFP [BONN] Britain yesterday called on European Union countries to aim for a 9 per cent cut In carbon dioxide emissions by 2006-2012 in the framework of the UN Kyoto protocol on the environment The EU has tentatively backed a 8 per cent reduction
        AFP  -  54 words
      • 57 10 AFP [LONDON] Hereditary seats in Britain's House of Lends are to be abolished as part of a wholesale reform of the upper chamber of parliament, the government announced yesterday. However, the Labour government failed to set out its vision for the final shape of the
        AFP  -  57 words
    • 400 10 WASHINGTON Reuters LEGISLATION to overhaul the US' Depression-era banking laws has sparked interest in the Senate, but time is running out for enacting the reforms, experts say. The bill that would allow banks, securities and insurance firms to get into each other's
      Reuters  -  400 words
  • Page 10 Advertisements
    • 79 10 'M- t V > <*>»»■ and we'll help you enhance your company profile Corporate celebrations are opportunities to have a total communication approach in enhancing your company profile to your business associates and customers. It may be a grand opening, launching ceremony, company anniversary, ISO certification, ground-breaking ceremony or a
      79 words
    • 725 10 4 SHQWPLA SHOWPLA ASIA LIMITED pnuuiuaMm m ot Singapore on Zt Jm> 1«77) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Twenty-First Annual General Meeting of Showpla Asia Limited will be held at Pan Pacific Hotel Singapore, 2nd Level, Room Gateway 2, Marina Square, 7 Raffles Boulevard,
      725 words

  • EDITORIAL & OPINION
    • 792 11  -  THE BOTTOMLDVE OPINION By Peter Lynch The writer is a Sydney-based journalist who contributes to BT FIRST, he vacillated Finally, he is on the attack. But if there is one sad lesson from the past two weeks, it is that Australian Prime Minister John
      792 words
    • 137 11 'If I paraphrase what Tanami said, that means 'Please buy the dollar'.' -Tetso Ailuwa a manager for foreign exchange at Samoa Bank, reacting to a statement by Japanese Vice-Finance Minister Koji Tanami that foreign exchange won't be a major topic when deputy finance ministers of the Group
      137 words
    • 582 11 EDITORIAL CONTRARY to some predictions made in the aftermath of the Cold War, the United States has not turned isolationist As the only re 1 maining world superpower, it continues to project its military power in the Pacific and the Atlantic. Equally importantly, as the world's
      582 words
    • 1326 11  -  To avert deflation, Tokyo most act radically bnt in the short term, this could hnrt more By John Plender FT CAN Japan summon up the will to escape incipient depression? The question is a matter of increasing global concern, as a weak yen spreads contagion across Asia and
      FT; FILE PHOTO  -  1,326 words
    • 793 11 Indonesia's new free press FREEDOM of expression, that inalienable right guaranteed by our Constitution, has flourished in Indonesia these past few months after being virtually missing for more than two decades. It has returned together with the current reform movement. Now with the old regime out
      793 words
  • Page 11 Miscellaneous
    • 46 11 POOHESBUBY By Garry Trudeau A 9 TUB LAST OF TOO ...SeV&AL QUESTIONS HAN6 I SURS, SOME OF U5 WILL MEPIA SCANOAUSTAS H&VYIN THE AJR. UKS.MHAT JO OTHER SCANPULL 01/TOF U77L3 ROCK-~ MLLiVE PO WITH OURSELVES? I OALS, &UT MOSTHULL HAVE 7 U&e&I&SOFZOMHIXC' I TOSCFAMOLE TOfiNPA 5
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  • EXECUTIVE LIFESTYLE
    • 328 12  -  FESTIVAL OF ARTS By\ Susan Tsang [SINGAPORE] Local theatregoers have been fed a diet heavy in experimental fare recently, with minimalist sets and scripts that require mental agility to jump through time and space. After all this, The American Repertory Theatre's Nobody Dies On
      328 words
    • 779 12  -  The musical grabs six Tonys including the award for best director. bkjki>tium reports RICK LYMAN NYT THE Lion King, a daring mix of experimental techniques with a familiar story that was a critical success and a smashing financial one for Walt Disney Co, won the Tony
      NYT; REUTERS  -  779 words
    • 351 12  -  BT SOCIAL CLUBS INDEX Ven Sreenivasan THE price of social and recreational clubs traded on the secondary market continued to slide last month as bad news on stock and currency markets continued to take its toll on the club membership market. The seven-club
      Compiled by BT  -  351 words
    • 659 14 NBA FINALS Bolls root Jazz by a huge 96 to 54 giving them a 2-1 lead in the finals LATWP {CHICAGO] From the city that brought you the Valentine's Day Massacre and other great routs comes Bulls 96, Jazz 54, historic in its own right and nearly
      LATWP; REUTERS  -  659 words
    • 600 14 RUN-UP TO WORLD CUP Reuters [PARIS] If the battle between the players is half as aggressive as the battle between the kit makers, then the World Cup should be an actionpacked affair. Nike and Adidas, who are sponsoring six teams each during the
      Reuters; FILE PHOTO  -  600 words
  • Page 12 Advertisements
    • 1073 12 EASTERN PUBLISHING LTD NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Shareholders of Eastern Publishing Ltd (the "Company") will be held at 8 Lor Bakar Batu #07-12, Singapore *****3 on 30 June 1998 at 11.00 a.m., or as soon thereafter following the
      1,073 words

  • Page 13 Advertisements
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    • 30 13 II fennon^rasslfi^ THAI RESTAURANT Enjoy and savor the perfect v| combination of our innovative JB Thai specialties and friendly Hospitality. m, Also at The Heeren shop. ————————B I V Zoom
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  • Page 13 Miscellaneous
    • 812 13 TVVRADIO Jonny Quest. 3.00 Legend Of Liu Bo Wen. 6.00 News 5 Todav Followed 3.50 Pet House. 230 PM TV Innovations. By Wheel of Fortune. 4.40 Hong Kong Today. MBf* ww j 4.00 Kidz Blitz: Space &30 The Pyramid Game. 9JO Star In Person. t k I fs 7.00 News
      812 words
    • 216 13 CRYPTIC CROSSWORD 1 They may have nights out on 10 It should have a safety pin in it 11 Entangled but certain it can name (5) -Lh"~ 15 Tense seconds are, perhaps (9) !I_l—_C^-L—L_L_l._ .1. I I P 19 The setting for confrontation 22 It can turn into quite a
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  • Page 14 Advertisements
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  • COMPANIES & MARKETS
    • 496 15  -  Even highly geared GLCs are deemed safe bets, as leans are assumed to be underwritten by govt By Wong Wei Kong [SINGAPORE] As corporate credit risks in the region rise with the deepening economic crisis, banks are keener than
      496 words
    • 398 15  -  Turnover up 2&8%; currency translation losses affected sales By, Jennifer Lien [SINGAPORE] IT training provider Informatics Holdings yesterday posted a sluggish 4.7 per cent rise in net profit to |8.7 million for the year ended March 31, as currency translation losses
      398 words
    • 1047 15  -  HOCK LOCK SIEW Andrew Marks HAT a difference a I few weeks can make. On May the Dow Jones Industrial W Average had climbed to 9,211.8, another record high and a 21.5 per cent gain since early January. Analysts
      1,047 words
    • 405 15  -  More brokers' licences expected to be revoked From Ruth Wong in Kuala Lumpur MALAYSIA'S Securities Commission hopes to entice more financially-sound stockbroking firms to salvage troubled ones by offering the incentive of branch operations. At a press conference yesterday, SC chairman
      405 words
    • 172 15 [SINGAPORE! Within the next six months, Orchard Parade Holdings (OPH) is expected to launch Regent Grove, a 99-year leasehold condominium project in Choa Chu Kang, and The Blissville, a freehold condominium in Bukit Timah. In its latest annual report, OPH said that the sales
      172 words
    • REGIONAL COMPANIES
      • 498 16  -  If creditors reject plan, wind-up to proceed; officials say '97 losses dne to inter-company deals From. Meera Tharmaratnam in Kuala Lumpur WESTMONT Industries Bhd, which recently announced a loss of 715.6 million Malaysian ringgit (Ss3os million) in its revised 1997 figures, will know
        498 words
      • 252 16  -  Media group's Utusan Printcorp sued over RM23,728 From Eddie Toh in Kuala Lumpur A SUBSIDIARY of influential media group Utusan Melayu (Malaysia) Berhad majority controlled by the dominant political party Umno is facing a winding-up petition. According to notices in Malaysian newspapers yesterday, Ski
        252 words
      • 175 16 AFP [HONGKONG] Ratings agency Moody's Investors Service said yesterday it had placed its ratings on the debt of Hongkong-based Swire Pacific Ltd and its subsidiaries under review for a possible downgrade. The review reflects concerns over Swire's changing business profile from that of a
        AFP  -  175 words
      • 242 16  -  CEO says CMMTC committed to USs2J>b skyway FYom Al Labita in Manila A FIRM controlled by the daughter of former Indonesian president Suharto yesterday denied rumours it would abandon its US$2.5 billion (554.3 billion) skyway project in the Philippines. "We are
        242 words
      • 357 16 AFX-Asia Bloomberg [HONGKONG] A number of banks have sold shares in Citic Pacific Ltd held as collateral against finance extended to chairman Larry Yung in December 1996, the South China Morning Post reported yesterday. The newspaper quoted aurces as saying that there
        AFX-Asia; Bloomberg  -  357 words
      • 448 16 Company planning to sell part of its business to repay debts: analysts Bloomberg [BANGKOK] The Charoen Pokphand Group, Thailand's largest conglomerate, will combine four publicly traded agriculture units, which analysts said will make it easier for the company to sell a chunk
        Bloomberg  -  448 words
      • 138 16 AFX-Asia [HONGKONG] British telecommunications giant Cable and Wireless pic is withdrawing its secondary listing on the Stock Exchange of Hongkong due to low trading volume, the firm said yesterday. The exchange's listing committee has approved the withdrawal of Cable and Wireless, a controlling share-
        AFX-Asia  -  138 words
      • COMPANY Briefs
        • 46 16 [SINGAPORE] Singatronics' subsidiary Singatronics (Malaysia) Sdn Bhd (SMSB) has the go-ahead to list on Malaysia's second board. The 72-per-cent-owned subsidiary will list under a new holding company, Astral Supreme Bhd, which will acquire all its existing issued and paid-up capital.
          46 words
        • 46 16 [SINGAPORE] The merger of Overseas Union Bank Limited (OUB) and International Bank of Singapore Limited (IBS) has been approved under the Banking Act The merger will take effect when, among other things, the certificate of approval is lodged with the Registrar of Companies.
          46 words
        • 38 16 [SINGAPORE] Jurong Engineering yesterday announced the retirement of Shigeyuki Nakamura from its board of directors with immediate effect. Mr Nakamura also stepped down as a non-independent director and member of the company's audit committee.
          38 words
        • 73 16 Elec Eltek beefs up Thai operations [SINGAPORE] Elec Eltek yesterday announced that it is beefing up its Thai operations. It will raise the capital of Elec Eltek (Thailand) Ltd (EETL) by 565 million baht (5522.2 million), and form a new 650 million baht subsidiary, Pacific Insulating Material (Thailand) Pte Ltd
          73 words
        • 25 16 [SINGAPORE] Main board-listed Datacraft Asia has won a US$l2 million (5520.5 million) contract from the Fujian Post and Telecommunications Administration.
          25 words
        • 44 16 [SINGAPORE] Tye Soon Ltd yesterday announced the appointment of Da vid Chong Tek Yew as executive director and group general manager from July 1. Mr Chong was assistant director of corporate finance for Standard Chartered Merchant Bank Asia Limited.
          44 words
        • 27 16 [SINGAPORE] Singapore Airlines is extending its electronic ticketing facility to a fourth city, Hongkong. The service was introduced in September 1997.
          27 words
      • 367 16 Bloomberg [KUALA LUMPUR] Malaysia's Promet Bhd said it's not "hiding anything", after auditors reported that the lossmaking engineering company gave them too little information to determine Promet's true state of affairs. Auditor Ernst Young noted in Promet's 1997 annual report that the company
        Bloomberg  -  367 words
    • INTERNATIONAL COMPANIES
      • 437 17 New company will have USsl9lb in assets; will be named Wells Fargo and Co Reuters Bloomberg (SAN FRANCISCO] Wells Fargo and Co and Norwest Corp have agreed to merge in a deal valued at US$34 billion (5558.1 billion), the bank
        Reuters; Bloomberg  -  437 words
      • 355 17 Analysts divided on when to start buying these counters again NYT [NEW YORK] When bad things happen to good companies, many investors start looking for buying opportunities. Such is the case with semiconductor stocks, which have been battered this year as one
        NYT  -  355 words
      • COMPANY Briefs
        • 97 17 I utUMfijrraaa, tne Italian champion of minimalist fashion, has taken a 5 per cent stake in its rival Gucci, which built a fortune on its opulent style. The move is being seen as a prelude to an eventual bid for control of the
          97 words
        • 42 17 Bloomberg [BAD HOMBURG, Germany] Fresenius AG, the world's largest provider of dialysis services and products, said it win buy Pharmacia Upjohn AB's International nutrition business outside Germany in a sale estimated at 800 million Deutschemarks (***** million).
          Bloomberg  -  42 words
        • 59 17 AFX-Asia [HONG KONG] Henderson Land Development Co Ltd secured about HKJ2OO million in cash from sales at its La Cite Noble and Dawning Views projects over the weekend, the Hong Kong Economic Journal said. The newspaper said Henderson Land sold 60 units at La Cite Noble
          AFX-Asia  -  59 words
        • 55 17 Bloomberg [TOKYO] Isetan reported that group net profit for the year ended March 31 sank 51.4 per cent to 2.56 billion yen (5131.1 million). Isetan posted a profit of 2.56 billion yen for the year to March 31 on sales 0f590.4 billion yen,
          Bloomberg  -  55 words
        • 67 17 Bloomberg [TOKYO] Intel Corp, the world's largest microchip maker, and SAP AG of Germany, a maker of business-management software, said they set up a Japanese subsidiary of Pandesic LLC, their joint venture to enable electronic commerce over the Internet. Pandesic KK will start business
          Bloomberg  -  67 words
      • 325 17 Largest memory chip maker to halt output for one week AFP Bloomberg [SEOUL] South Korea's Samsung Electronics Co (SEC), the world's largest maker of memory chips, will stop production of all memory and most non-memory chips for one week to tackle a worldwide glut
        AFP; Bloomberg  -  325 words
    • FINANCE & COMMODITIES
      • 492 18 Asian traders say it's politically inspired and not viable economically Reuters [SINGAPORE] Asian oil traders gave a sceptical response yesterday to China's announcement that it has freed up oil price controls, saying the move was politically motivated but economically empty.. They said
        Reuters  -  492 words
      • 284 18 Bloomberg [TOKYO] Japan's major life insurers some of the world's biggest institutional investors are shunting more of their money into stocks and bonds overseas as an antidote to record-low bond yields and slumping shares at home. Sumitomo Life Insurance Co, Japan's third-largest
        Bloomberg  -  284 words
      • 349 18 Exploratory talks broke down over the details, say sources Bloomberg [NEW YORK] Prudential Securities and Paine Webber Group Inc have held talks in the past several weeks about a combination that would create the United States' secondlargest retail brokerage firm, people familiar with
        Bloomberg  -  349 words
      • 165 18 Bloomberg [WASHINGTON] The US Commodity Futures Trading Commission may ask for industry comment before proposing a rule to make it easier for foreign futures exchanges to set up electronic trading terminals in the US. That could add up to 60 days to
        Bloomberg  -  165 words
      • 273 18 Bloomberg [TOKYO] Three of Japan's biggest banks Sanwa Bank Ltd, Dai-Ichi Kangyo Bank Ltd and Long-Term Credit Bank of Japan Ltd said yesterday they will close offices in Europe to cut costs. Prompting the retreat is the fact that Japanese banks have to
        Bloomberg  -  273 words
      • 205 18 Reuters [TOKYO] Nippon Life Insurance Co and Bank of TokyoMitsubishi Ltd (BTM) each sold more than 30 million shares in Nippon Credit Bank Ltd (NCB) in the year to March 31, business daily Mhon Keizai Shimbun reported on Saturday. Nippon Life, NCB's
        Reuters  -  205 words
      • 231 18 SI IM KX Report Reuters [SINGAPORE) Simex Japanese government bond (JGB) futures closed higher yesterday with rollover to the September contract continuing to dominate market activity. "The market undertone is still bullish. JGBs are up again, but only on a 23-tick range for the
        Reuters  -  231 words
      • 189 18  -  MSCI TAIWAN FUTURES Charlie Kuo Charlie Kuo, service dealer, Rtfco Singapore [SINGAPORE] The Simex MSCI Taiwan Index futures dropped after a two-day rally on worries about the falling New Taiwan dollar against the US unit. The Taiwan currency sank to 11-year lows yesterday
        189 words
      • 225 18 ENERGY REPORT Reuters [LONDON] Oil prices slunk lower yesterday despite keen Saudi Arabian efforts to lean on fellow producers for further output cuts. North Sea IPE Brent crude futures for July delivery were trading at U5514.26 a barrel at 1412 GMT, down
        Reuters  -  225 words
      • 290 18 AFX-Asia Bloomberg London THE US dollar firmed marginally against the yen but remained well-supported within a tight trading range, following its ascent in Asia trade to the 140-yen level. The dollar finally broke through resistance at around 139.70 yen on its third serious attempt, heralding a longawaited move
        AFX-Asia; Bloomberg  -  290 words
      • Article, Illustration
        1305 18 PtTBRBAMK CROSS RATB8 Jun8 c$ r ptr o» m m i ngii y« w» m mzs p« t» p»» «r wn faM —a <n Australia 0.875 1W0 I.W 1.064 4.641 25.*****077 0J41 1381 2.397 1*0 26.698 23.748 1025 3.0«7 0.886 ***** ***** 0.367 0J99 Canada IM3 5.685 0.617 4.080 1.217
        1,305 words
    • 1564 19 MCOM flTTUMS jun8 RU88ER (fatwts dm* at iMm) ISS1 CONTRACTS cMtsAg) CIom VofcMN Opon M— NMj Uw Sott (tan—I) Intorost M* M.75 1265 120.00 1265 Sop ***** ***** ***** 225 1090 Oct/Doc 9® 125.75 225 4500 99 190.75 129.50 130.50 1425 1575 Apr/Jw 99 134.00 75 ISS 3
      1,564 words
    • 2156 19 LOW OH Ml Nn 31 Croup 667.400 -1000 AB Ports 363.400 -1.000 Abbey National 003.000 23.000 AModDomocq 601.000 1.000 A/nec 208.000 ♦5.000 Asda Group 194.600 4.600 BAT tad 617.000 25.000 BCPtc 324.000 ♦5.800 BICC 161.000 4.400 BOC Croup 944.000 4.000 BR Petroleum 927.400 20.000 BTR 193.000 5.000
      2,156 words
    • 1606 19 Bloomberg AFP Qnua -28.72 STOCKS traded little change 4 as top exporters such as Sony Corp gained after the yen plunged to a seven-year low against the dollar. That offset selling of companies sensitive to the domestic economy such as banks, retailers and railways. "People think if the dollar
      Bloomberg; AFP  -  1,606 words
    • Article, Illustration
      1484 20 Reuters yi Ham Seng +17.16 STOCKS ended yesterday largely unchanged after a choppy session that saw investors worried about a weak yen but encouraged by strong major overseas markets, brokers said. The Hang Seng Index added 17.16 points, or 0.20 per cent, to end at 8,586.63 after bouncing between
      Reuters  -  1,484 words
    • Article, Illustration
      574 20 Reuters kJ Shenzhen B Index -0.62 SHENZHEN'S hard currency B Share Index ended down slightly yesterday in thin trade as investors were reluctant to buy before Beijing announced possible policies to boost the market, analysts said. The index dipped 0.62 point, or 0.68 per cent, to 91.48 on turnover
      Reuters; Source: Credit Lyonnsis Securities (Asia) Ltd  -  574 words
    • 379 20 AFP DWPhin -46.41 TAIWAN stock prices fell 0.6 per cent yesterday due to the local currency's weakening on the back of the declining Japanese yen, dealers said. The Weighted Price Index dropped 45.46 points to 7,591.27, following a 1.7 per cent rise in the previous session. "Investors felt... there
      AFP  -  379 words
    • 258 20 AFP Q Wellington -3L30 OFFSHORE investors pulled the plug on the New Zealand share market yesterday after credit rating agency Moody's cast a shadow over the currency last week. The NZSE-40 Index fell 31.30 points or 1.5 per cent to 2,104.40 on turnover of NZ$l4O.l million. Local market liquidity
      AFP  -  258 words
    • Article, Illustration
      688 20 AFP n|O—oßtehig -OJO INDONESIAN shares closed slightly lower yesterday amid falls in regional currencies and ongoing political uncertainties, dealers said. "The political risk is just too high so it is much better to stay away from the market," a dealer with a regional brokerage said, adding that the. market
      AFP  -  688 words
    • Article, Illustration
      779 20 AFP n SET Intoi -6.71 THAI share prices fell 1.8 per cent yesterday on negative local sentiment and the weakening of the Japanese yen, dealers said, adding worse was yet to come for the crisiswracked economy. The SET broad-based Index finished down 5.79 points at 312.37 yesterday. International praise
      AFP  -  779 words
    • 300 20 AFP nnwn> -27JT PHILIPPINE share prices fell 1.4 per cent yesterday on concerns the government would raise interest rates to rein in rising inflation. The Philippine Stock Exchange Composite Index fell 27.17 points at 1,930.59. Volume reached 377.33 million shares worth 667.23 million pesos. Ayala Corp closed 50 cents
      AFP  -  300 words
    • 416 20 AFP Composite lata +436 SOUTH Korea's stock market closed yesterday 1.3 per cent firmer but off Its highs, with the index boosted by President Kim Dae Jung's landmark US trip and by futures-led buying of blue chips, dealers said. Sentiment was also lifted by the cancellation of a strike
      AFP  -  416 words
    • KUALA LUMPUR STOCK MARKET
      • 8553 21 INDUSTRIALS Consumer priAicts 1996 Last Vol Day Nat Cap H>gl» Low ClfH *000 Hmi Low P/t W 310 180 Ajinomoto 228 12.6 92.4 148 62.5 Arxjkasa 66 -4 34 70 66 1.5 97.3 290 t23 Apollo rood Hlg 150 -1 1 150 150 4.4 60.0 388 190 BerJayaLand 239 -11
        8,553 words
      • 401 21 AFP C 3 Composite Index -7.26 MALAYSIA'S key stock index ended 1.4 per cent lower yesterday dragged down by the weaker ringgit and differing views on interest rates. "The uncertainty surrounding the ringgit is making investors nervous," an institutional dealer with a local brokerage said.
        AFP  -  401 words
    • WARRANTS & OPTIONS
      • 199 22  - Republic Hotels wrt: interesting but WARRANT WATCH -By! R Sivanithy ONE of the problems with warrants these days that has been highlighted in this column is that many of them are almost indistinguishable from their underlying shares because the latter have collapsed so much. A second problem is liquidity: many
        199 words
      • 3392 22 ■OHM* LOANS ft VARIANTS wt im Last Vol Day Laot Ouott Av« High Law Stno Company Sate Hr COOO) High Low Buyor Sailor Prtca 2X5 9 m 3000 m AMD8c5.5%*****6 12 20.5 8 3160 "Acor ******1 USS K) 8 9 95 8 5 3164 Acma ******4 11 -15 50 11
        3,392 words
    • 2279 22 Transaction date Jun 8 MALAYSIAN ?WB' 1CTiim1B Or Or IMI Last V«K Day LaatOuata Dk Oh VN Ml HCl* Htgh Lao Stno Campsny Sat* COOO) M0i Lav Buyer SaMar Cvr P/l JmM 135 28 m ***** AIS8 50c 50 *1 158 50 49 50 505 54 13 2.1
      2,279 words
    • 6555 23 Transaction date Jiin 8 Or Or M Wt 1998 Lot Vol Day Lo»t Ouota «v Wv YW Net Cap Avq Hljfc L— 8<Mo Cliw> SMo rOOO) tow 8wvor «•—r Cw W $w> Price MBUSTWAiS 43 16.5 1020 ACE 0ynamics60c.... 17 cd *0.5 141 17
      6,555 words
    • 1202 23 ©r Cr M Wt 1998 Laat Vol Day Last Ouoto Otv Mv VM Not Cap Av« Low St*o Company Sato o/-_ rooo) U» fm S—or C'»r P/I $m« Prico 134 79.5 2000 ABR Hldgs Sc 91 »3 6 91 90 95 44.4 M 243 76 0 2049 ASAvtOlOc 91
      1,202 words
    • STOCK EXCHANGE OF SINGAPORE
      • 217 24 Stocks Volume Easyknit HKlOc 10,680.000 DBS Land 8,580,000 IPC Corpn 5c 7,487,000 TAC BttO 200 7,088,000 SingTel 15c 5,298,000 OUB Foreign 4,651,000 'Rekapacific Bh 4,450,000 STEngglOc 4,444,000 OCBC Foreign 4,246,000 *M8f Capital 3,377,000 Stocks DBS Foreign 28,915,457 OCBC Foreign 25,058,030 OUB Foreign 20,209,990 UOB Foreign 15.439,672 DBS Land 13,964,838 SingTel
        217 words
      • Article, Illustration
        82 24  -  -by Ven Sreenivasan THE stock of computer maker IPC Corp has sunk to an all-time low after losing two cents or 22 per cent to seven cents on volume of 7.5 million units yesterday. Although the Relative Strength Index shows the stock is deep in oversold territory, this
        82 words
      • 741 24  -  STOCK MARKET COMMENTARY Market also rattled by banker Wee Cho Yaw's remarks on the economy; property stocks worst hit By R Sivanithy [SINGAPORE] Worries about the direction of the Japanese yen and the impact of its slide on regional currencies yesterday sent
        Chart info from Bridge  -  741 words
      • ON THE GRAPEVINE
        • 110 24 FOR those seeking a career in the financial sector, don't forget to try your luck with the Monetary Authority (MAS), which unlike many others in the sector, is still in a hiring mode. The MAS' most recent advertisement is its third to date arid it is
          110 words
        • 99 24 FOR tho6e of you doing business with British companies and think you don't have to bother with converting Euros, think again. Already companies like British Steel, ICI and Rover have announced that they will transact in Euro come Jan 1,1999, said Standard Chartered Bank's EMU programme
          99 words
        • 79 24 IN Malaysia, nobody is more serious about the Year 2000 Problem or Y2K—when computers mistakenly recognise the year 2000 as 1900 instead—than the Securities Commission. The securities watchdog's new website has a digital dock ticking a way to show the time left before die turn of
          79 words
        • 114 24 EVEN the Sultan of Brunei, the richest man in the world, may not be able to help cash-strapped Taiping Consolidated Bhd. Although the listed property company is in the final stages of selling its JW Marriott Hotel to the Sultan for some 400 million Malaysian
          114 words
        • 89 24 A SENIOR manager of a Singapore property developer bumped into his journalist friend one day. "What have you been busy with these days?" the journalist asked his old friend. "Oh, busy making provisions," the property man replied. "No, not for my company. Making provisions for myself," he
          89 words
        • 142 24 THOSE who are thinking of investing in China's roads, think again. Standard Poor's has just downgraded the outlook on bonds issued by die Greater Beijing First Expressways Ltd to negative from stable. The outlook revision is for the double 'B' rated US$lOO million <Ssl7o million) 9J25 per
          142 words
  • Page 15 Advertisements
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      209 words

  • Page 16 Advertisements
    • 41 16 MERIDIEN SINGAPORE HOTELS IN ASIA-PACIFIC: BALI BANGKOK ISLE OF PINF.S JAKARTA KOI I SAMUI M F.DAN 99 MELBOURNE NFW DELHI NOUMEA TAHITI 98 PHUKET PORT VILA BORA BORA 98 SAIPAN 99 SINGAPORE SINGAPORE CIIANCI THE GOIDEN TRIANGLE TOKYO TOKYO II 98
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  • Page 17 Advertisements
    • 1893 17 Wayfoong Mortgage And Finance (Singapore) Limited <Z> Member HSBC Group BALANCE SHEET (iv) Stock finance II Share Capital a* at 31 December 1997 literal a credited 10 income aa a monthly cadi bans. 1997 1996 Interest relating to non-performing loam and advance is suspended from income Authorised: Fixed Asaets J
      1,893 words

  • Page 18 Advertisements
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    • 8 18 <&oAertie& The Straits Times Classified Classifications 402-568 a
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    • 24 21 ■wmu -< J- 4 u-J P.# ■'"-•s. 1 '->» >• <,«• t-- Make The Straits Times Classified your first pit stop when shopping for your car or motorbike.
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  • Page 22 Advertisements
    • 33 22 Citibank Margin Trading Account. Trade in the Widest List of Marginable Securities. Call 339-7126 Now. THE CITI NEVER SLEEPS Branches at 1 Shenton Way 268 Orchard Road 21 Jurong East St 13 www.citibank.com.sg
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  • Page 23 Advertisements
    • 31 23 You buy, we win finance Hotline: 320 0168 a nraß Hon|t| Cash Deposits Investment Cars -AngMoKio Tel 458 4222/4333 Deposit it Equipment Construction Factoring SINGAPURA i Vessels BUILDING SOCIETY LTO 4
      31 words

  • Page 24 Advertisements
    • 294 24 BUSINESS Standard it Chartered *****,000,000 Negotiable Floating Rate Singapore Dollar Certificates of Deposit due 6/6/2000 In accordance with the provisions of the above mentioned Certificates of Deposit, notice is hereby given that for the Interest Period from 9 June 1998 inclusive to 9 September 1998 exclusive the Interest Rate applicable
      294 words
    • 882 24 BONVESTS HOLDING^JMITEI^B H (Incorporated in the Republic of Singapore) H NOTICE OF ANNUAL GENERAL MEETING H NOTICE IS HEREBY GIVEN that the Twenty-Ninth Annual General Meeting of the Company will be Hi held at The Conference Room, 541 Orchard Road #16-00, Liat Towers, Singapore *****1, on Friday, H I HR
      882 words
    • 596 24 INTERNATIONAL FACTORS (SINGAPORE) LIMITED (Incorporated with limited liability in the Republic of Singapore) 5570,000,000 Floating Rate Notes Due 2002 Pursuant to CONDITION 11 of the Notes, notice is hereby given that, in respect of the Interest Period from June 9,1998 and ending on (but excluding) September 9,1998. (a) the Rate
      596 words

  • SHIPPING TIMES
    • 286 25 Bridge News Reuters THE previous week's trading ended very quietly with news of concluded business very slow to surface. The air of pessimism continues with charterers intent on cutting rates ftirther. Fixtures TANKER& Late trading was exceptionally quiet, brokers said, with no new cargoes being quoted. From east
      Bridge News; Reuters  -  286 words
    • 239 25 St W CWT Distribution 0.42 2 Chum Hyp 0.38 -0 015 m Co*co Invntrrwrt .0.70 FrwMHUnkt 021 -0.02 257 «HMn«l 024 -0.01 10 HUSunM* 0.435 *0.005 65 HKacMZoon 0.595 -0.02 «05 IMCHoMngt HK 540 J«y« Hokflnqs 0.41 *0.01 12 Juronq Shipyard 7.55 +0.05 142 K«W«i Cor* 3.02 -0.18
      239 words
    • 524 25  -  Rapid growth of ship registry dne to political stability and adoption of int'l maritime standards By Marcus Hand (SINGAPORE] Singapore's rapidly expanding merchant fleet now ranks as the world's Bth largest. The Singapore Registry of Ships (SRS) has jumped two places from
      524 words
    • 567 25 They say they are held against their will in a mafia scam AFP [ISTANBUL] Several hundred passengers aboard a Ukrainian cruise ship anchored just off Istanbul claimed to have been abducted by the ship's crew in a mafia scam and pleaded for help to leave
      AFP  -  567 words
    • 320 25  -  By. Marcus Hand [SINGAPORE] Malaysia is seeking to extradite 12 Indonesians, accused of hijacking the Malaysian flagged tanker Petro Ranger, currently being held by the Chinese authorities. The Malaysian government has notified the Chinese government of its intention of charging the Indonesians with
      320 words
    • 294 25 AFP [KARACHI] An abandoned half-sunken tanker leaking oil into the Arabian Sea drifted closer to the Pakistani coastline on Saturday, raising fears it could endanger Karachi port, officials said. "A change in the direction of the drift of the oil slick and
      AFP  -  294 words
    • 112 25 (LONDON] Poor working conditions are not confined to open registry (Flag of Convenience FOC) fleets, according to a study commissioned by the International Transport Workers' Federation (ITF) and conducted by independent survey organisation Mori. It reports that ships flying the Russian, Romanian and
      112 words
    • 717 26 US AIR TRAFFIC CONTROL Momentary disappearance of Air Force One on radar reflects widespread problem, say US air traffic controllers The Los Angeles Times [WASHINGTON] FOR the second and then third time in three months, Air Force One disappeared on Friday from radar screens while
      The Los Angeles Times  -  717 words
    • 244 26 PAGE Oanveror 4 ACL 9 Lloyd 9 ANL 3 Dongnama 3 9 Accord S ECL 5 Appenship 5 Ethiopian 6 Ajtro 3 Eurohans 6 Austral 9 £ver 9 rwn 6 m j FoongSun 8 Batamindo 7 Ul Gemartrans 8 Bayswater 6 B'tang Mas
      244 words
    • 25126 34 THEBUSINESSTIMES thebusinesstimes EXPORT ETA ETA Advertiser Vessel Voyaqe T eiepAooe ETA ETA Advertiser Ve ssel Voy aqe Telephone SIN Oest'n Nam* Nam* Number Number SIN Dest'n Name Name Number Number ■■■■MMNMMMNaBHOTMNNNMBMMMaNMMMMMMMMi 13/06 14/07 Quadrant MED KEELUNC 232W 65-*****44 A 1/06 26/07 Slier (Kite ELBE 547W 65-*****22 21/06 28/07
      25,126 words
    • SHIPS IN PORT
      • 815 39 Vtifl Voy No Bfth Arrival PapartBra A A 78/98 *J03 alongsKle 08.06/2300 MM r atm m noogun 08.06/2359 MuMcm 0« j)0 alongside 09 04/2300 M A»rtIII *****6 J01 alongside 09.06/0600 M Jury Mi JONS JOT alongside 06.06/1500 M TIBa Sej *****6 J01 I KXVjs.de 06.06/2000 G*"d* 2 n/9«
        815 words
      • 1834 39 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Booklng/Balanci Rttls Ship Vey No Etb/Btr Ported From To From Ac. S>M UM 11/0700 U Ol/BOO 01/*51 01/*00 M Ol/BOO 01/*51 Ol/BOO 2A OC/TTOO 01/0*51 01/0900 21 01A700 09AW9 Ot/OfOO 3 01/0700 09/1159 09/1400 4 09/1200 09/1459 09/1700 MHrtctt 0*051
        1,834 words
      • 160 39 Jon 10 Portugal: National Day. Jon 11 Austria: Corpus Christi. Portugal: Corpus Christi. Jon 12 Philippines: Independent Day. Joa 16 South Africa: Youth Day. Jon 19. Finland: Midsummer Eve Holiday. Jon 20. Finland: Midsummer Eve Holiday. Sweden: Midsummer Eve Holiday. Jon 23 Luxembourg: National Day. Jan 30. Brunei:
        160 words
      • 950 39 THIS report, compiled by Cockett Marine Oil Ltd. shows price ranges in US dollars instead of single prices tor a more comprehensive description of the market Prices shown are based on average-sized stem Market movements are indicated The Cockett Bunker Price Index change and the indi
        950 words
      • 487 39 Carbon 180 Mn 992.2 1.0 18.0 0.10 72 0.07 Jiui 1 Density Hater RmMm Ask Aluminlun Sediment No £25 7 0 12 0 0 0 B!™2 380 Aw 987 J 01 16.7 0.06 32 0.03 380 Mai 9915 01 195 0.16 72 0.09 MAM M/M M/M
        487 words
    • AIR & LAND TRANSPORT NEWS
      • 397 40 Govt orders pilots to return to work by yesterday in bid to resolve strike AFP [MANILA] The Philippine government has reversed a management decision to sack striking Philippine Airlines (PAL) pilots but has ordered them to return to work no later than
        AFP  -  397 words
      • 451 40 HERMAN RAILWAY DISASTER Mounting suspicion that broken wheel the cause of crash Financial Times [Bonn] Deutsche Bahn, the German federal railway, has ordered ultrasound tests on its first generation Intercity Express high speed trains as suspicion hardened at the weekend that a broken
        Financial Times  -  451 words
      • 308 40  -  From. Rajendra Bajpai in New Delhi THE maiden budget of Prime Minister Atal Bihari Vajpayee's new government, while ignoring the needs of the shipping industry, supported partial privatisation of Indian Airlines, the country's domestic carrier and provided extra funds for development of roads and
        308 words
      • 160 40 Reuters [JOHANNESBURG] South African Airways (SAA) will ask police to pursue an amorous couple who made love in full view of fellow travellers last weekend, a South African newspaper said. "If any passenger is found doing anything indecent or contrary to aviation regulations on any
        Reuters  -  160 words
      • 1649 40 CITY RIGHT £T* FLIGHT FTD CZ351 2045 S0804 1020 iMMl 1*7381 1930 BA7382 2055 HmmI **741 131C VN740 1410 0f81 1930 0782 2055 WT743 IW5 WO* H«tYM TG407 1540 TG408 1635 AmttrtM W4327 0755 *1844 0040 *895 2150 *896 1815 $0327 0755 KL838 2300 No CM
        1,649 words
  • Page 25 Advertisements
    • 19 25 Questions over US air traffic control system Disappearance of Air Force One on radar reflects widespread problem. Page 6
      19 words
    • 488 25 Manila orders PAL to take back sacked pilots Govt orders pilots to return to work by yesterday in bid to resolve strike. Back Page People Marc Benedetti has Godric Brown has been appointed been appointed as Air chief executive of Ivaran Unas, followFrance's regional di- ing the acquisition of the
      488 words

  • Page 26 Advertisements
    • 781 26 ■■■■■■■■■■ito SUPER SHUTTLE EXPRESS jQULF KARACHI EXPRESS (OIOQ YKSa VOYAGE MB Sjj VfSSCL WT |XA j DMN lAN DM |KM COl ]KG SM KYI WGO W 27/05 2f/05 2f/05 31/05 05/06 of/06 13/0* 14/0* 000. CHMA 23W522 03/06 21/ M ooanrouN umi3 10/0* 20/0* Pto niduoyd dammam 271 03/0* 05/0*
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  • Page 27 Advertisements
    • 1026 27 SAX SERVICE (DIRECT) I vcsa voy smeia I lax 1 oak not hou ch cot km ar nk AWTOWMAUNE 01 n 03/06 22/06 22/06 22/06 23/06 22/06 23/06 23/06 24/06 24/06 gg 0031 10/06 25/06 29/06 29/06 30/06 29/06 30/06 30/06 0»/07__U/07_ AftGAtttT 0171 17/06 02/07 06/07 06/07 07/07 06/07
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    • 1942 27 (g) HANJIN SHIPPING HANJIN SHIPPING (S) PTE LTD hnp //mm. honpi cam BOOKING 32M73S 237 SALES 37(0724 731 DOCUMENT *****71 774 OKUIIONS *****41 757 MAJN LINE" *****55 FAX: 77W960 CI MO **********0 M TO NW USA CANADA USA CANADA* FOB VSI/VOY MM 5 UNI HAUL/VOY TIW DPI POX CHI MSP
      1,942 words
    • 424 27 PIIHY CONTAINHHID PIPICA TIP hiykii VESSEL W_ _SIN_ PI6 OPT SIN HKG KEI DSN PUS pML 1 VOY j S>N I PKG IvtSSH. T VOY I SIN I JRT RMTC HONGKONG MIS 31/0S 02/06 NIN OVO6 07/06 01/06 11/06 12/06 ;4 KMTC PUSAN 007S 05/06 12/06 14/06 16/06 17/06 KMTC
      424 words

  • Page 28 Advertisements
    • 1489 28 DSR-SENATOR UNES TO UK/CONTINENT TO RED SEA/MEDi rEHRANEAN/CANAPA VESSEL VOY *57" UW RTM AMR HAW ORV HJt VESSEL VOY SIN MO «T gt fOI VIC MTI PUGWASH SENATOR WNB24 M M iIM 20 M 20 M 0107 02 17 03 07 PACIFIC SENATOR *W! 11M 22 M2»M M M 8.8
      1,489 words
    • 1332 28 MY LJNE YML ,nt#fn t Web htt P //www.yml.com.tw ;liUU4'Hr tk «l ARRlVALR»Ddaytuesoay VESSEL VOY LEH FXT HAM AMR HFA SIN DOVER BR ABI6E SID SLD SID SLD SLD 09/06 MING STAR ABI7E 20/05 SLD SLD SLD SLD 16/06 MALACCA BR ABIBE SLD SLD SLD SLD 09/06 23/06 MING SUN
      1,332 words
    • 504 28 LINE 9W A TILt IIII4S* PAXi *****11 MUARA LABUAN i vtssa vot no n* vtssa vor no iu SPOtf MUAKA SPOM IN J.POOSPB VISI/M 11/ M 14/ M i-«OSPB WSI/W 11/ M 15/* APttGWtT VIX/W 15/0* 11/ M AmOOfT VISI/4I 11/ M 10/ M iPTOSPH Vltf/M 21/ M 24/ M
      504 words

  • Page 29 Advertisements
    • 1315 29 [VESSEL VOY SIN POU PKO PEN BLW SUR PUB BA WK 1 IRAN VAHDAT PJL 1284 21/06 30/08 IRAN TAKHTI PJL 1288 01/08 10/08 11/08 IRAN TEYFOURI PJL 1287 08/08 17/08 18/08 IRAN MOBIN PJL 1283 20/08 28/08 30/08 ACCEPTING CONTAINER/BREAK-BULK SHIPMENTS TO INLAND POINTS IN IRAN A CIS COUNTRIES
      1,315 words
    • 2350 29 direct sailing j;.i TO SHANGHAI ft XINGANG J I GENERAL AGINTS: 6 SHENTON WAY TEL 226 1900 FAX: *****00 OUTWARD (I A) —l COSTAR SHIPPING PTE LTD #17-01 DOS BLOG SAUS/MGS 4205*41/43 INWARD DEFT (0/0) *****85 COSTAR AGENCIES (M) SDN BHD CRMQ:II7>7OfOOOOM TOWER TWO (*****9) CONVENTIONAI. 4205*50/55 T/SHHOT *****25 TIL
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  • Page 30 Advertisements
    • 1269 30 EUROPE/UK/SCANOINAVIA/nNL^JO/BUBSIA ["SGPI ROM ANW HBG THP ZEE LHV IMV THP RDM ANW HBG PKL SGP I. DECENT RW-004 14/06 0207 17/17 83/97 06/07 0007 E GAINING RE-063 17/06 IMB 20/06 11/06 22/05 15AM 16AM I DELUXE RW-003 21/06 10/07 15/07 11/07 11/07 14/07 ***** E GOOOS RE 061 2605 27/06
      1,269 words
    • 742 30 I*, am MAC-MELS S'MftE wm I Carrier: MN CONTR LINES, INC GUDANQ: (07) *****26 I IV~/\ 1 CM HO, IWIIW B®U: (064) *****8 MAMLA: (632) *****24 W PENANG: (04) *****36 BANGKOK: (662) *****67 SURABAYA: (31) *****0 P. KELANQ: (03) *****77 JKT: (21) *****07 MONt (81) *****3 KUCHMO (082) *****1-3 WE
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    • 419 30 /CZZ NANTAI LINE FULLY CONTAINERISED SERVICE TO MAURITIUS SOUTH AFRICA VESSEL I VOT I SIM I ftU 1 put I PT I »/MT mrcuvaus im 12/04 21/04 24/04 01/07 04/07 GOiDBI WAGON VOOSS 11/04 27/04 01/07 M 7 NAOTUftHKESS MBS 25/04 13/07 17/07 mraiouffli IMB PI/07 17/07 21/07 24/07 30/17
      419 words

  • Page 31 Advertisements
    • 387 31 BSA ii. I %mm MYANMA «BBk FIVE STAR LINE (Myanmar National Lint) Loading for Yang on (Rangoon) VESSEL VOY SIN KG PEN PGU MERGOI 143W SID lAGO 102W SID MALAYSIA AGENTS: 60USTEAD SHIPPING AGENCIES KUL Ttt 02-03-*****00 PKL HI 02 03-*****01 KN; TEL 02-04-*****02 PGO: TEL 02-07-2$ *****/4 BANK LINE
      387 words
    • 1199 31 I HYUNDZST MERCHANT MARINE CO. LTD. [vessel voyl«n Isoulibilktmlantlhamlbivl m I Ivcsa voy sou I ibi I btb> I awt I ham I B6rv miswi NOLAMAZOMTE OI6W 11/06 29/06 04/07 01/07 02/07 ff/j» a s Wj|* 05 ®J/06 LA LORE 521W 12/06 03/07 04/07 26/06 30/06 WCMMKWW 3121 16/65 21/05
      1,199 words
    • 1102 31 4B norwagion specialized oukxorrmn laL... QS&sks mm wmu\£s TO NORTH AND LATIN AMERICA "*ORO HEAVYUFT SERVICE" [VESSEL VOY RAMP HEIGHT SIN LAX CKL NUA SAV lAL ORF NYC NEW |MM TOM F412 400 Tow "OS ***** 04/07 Tt7o7 2670T 22/07 24/07 25/07 26/07 31/07 01/04 TARONGA FII3 400 Tons 6.3
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  • Page 32 Advertisements
    • 694 32 BANQKOK/LAEM CHABANQ JAKARTA/PAN J AMQ VESSEL VOY SIN BKK LCH VESSEL VOY SIN 3KT"~| PJN BAN I BHUM 101N in Pt 13/06~ 12/06 THANA BHUM 290S 10/06 13/06 KITI BHUM" 57N In Pt 12/06 GURU BHUM 81S 10/06 14/06 NANTA BHUM" 397N 10/06 13/06 14/06 GURU BHUM 81SB 11/06 14/06
      694 words
    • 511 32 BINTANG MAS SHIPPING PTE. LTD. 39 NEIL ROAD, SINGAPORE 0206 TEL *****68 FAX: *****64 TLX: R*****6 SINMER CR No: **********0W Receiving Cargo at PTI I Bintulu I Muara vessel voy sin fry 5555 L voy sw mua 8 Beiorf V9BOBE 16-17/06 72/06 MM V9Blo€ 10-11/06 16/06 ls*no V9812t 2MI/04 26/06
      511 words
    • 677 32 1 ACCORD A SHIPPING PTE LTD YEL *****15 (40 Lines) FAX *****30 rOttT UAMC (OS) M 7 1001 m M DIMECT ACCESS YEL *****55 (EXPOUT MOOKINO) HS* GUMMG (07) SSI 1577 *****34 (EXPOMY DOC), *****39 (IMPOMY) nMAM6 (04) S3? 144S UMLsHYYP://WWW.ACCORD.COM.SG JAKAKTA (11) MO 0770 VAA/ PORT ITA SIN PORT
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  • Page 33 Advertisements
    • 400 33 MiiMMHli TO EUROPE """1 EXPRESS SEMI-CONTAINERISED SERVICE ~m VOY I A'OAM/R OAM HIURG BREMEN ANTWERP A VESSEL ***** OMIT 02/ M TO AUSTRALIA 1 I FULL CONTAINER SERVICE VSL VOY FBI ME SYD MB. HM MX fflt PUieXXOYOMWMNE VMS 07« 10W IUX ZM* 2M6 2«* OM7 austwtwiw TW iiSTuS mm
      400 words
    • 985 33 ADVANCE CONTAINER LINES (PTE) LTD /V I Z 140 Cecil Street, #12-00, PIL Building, Singapore *****0 iX I,| TEL: *****21, FAX *****19, TELEX :RS ***** ACL PL CR NO. **********0E OPERATIONS: *****60/ *****05 BANGKOK JAKARTA (WfclT Slg» PAT/I «n» LCH/1 Sl| M*T) VESSEL VOY SIN BKK 5?! stoooAN ay a;,
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    • 872 33 VFSSPIR VOY SIN JED MLA LEH HAM THP RTM ZEE VtJ-EOe TANYA T2BW 00/06 17/06 22/06 26/06 28X08 01/07 02/07 03/07 VJ-EDE TAURUS A2BW 16/06 24/06 29*36 06/07 «g 06/07 06*07 08X07 VXE D'AQUAWUS U26W 23/06 01/07 06/07 12/07 13/07 15/07 18/07 16/07 V*_LE DE ANT ARES L26W 30/06 08X07
      872 words



  • Page 36 Advertisements
    • 50 36 Dial 740-6000 Oil G€ITIdnG (Retrieve more schedules!) Press »1" JCV Select the port and key in the four digit code mm eg. 7o A/ew York (NYO 2275 ST 4} Key in your fax number I your phone number AnatNf ifWMvstive service offered by The document will be shipping Times i
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  • Page 39 Miscellaneous
    • 121 39 ma^zsnED— 222 ZlJiooE LEGEND: R Thunderstorm Temperoture c X\ V Shower Weother Wind direction with speed in knots ee Rowi V^_y Cloudy Sky Wow height Surfoc# winds ore indicated by arrows which My with the wind Cy One tut circle represents calm or hght and vonoble winds i__ One holt
      121 words

  • Page 40 Advertisements
    • 66 40 -Business Centre Your 24-hour instant info access centre to shipping services and products. Around-the-clock. Seven days a week. Call 740-6000 Press "1" key in Document Code Key in fax number "O Enter your phone number (-71 rji L*J quality UIJ voice quality 1 \L 0 CROSSTALK NO CROSS-TALK sy a»Tic
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