The Business Times, 27 June 1998

Microfilm: NL21197
Total Pages: 30
1 30 The Business Times
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  • Title Section
    Masthead
    14 1 THE BUSINESS TIMES MITA(P) ll(V12/97 85C SINGAPORE Internet: http://www.asial.com.sg/biztimes WEEKEND EDITION, JUNE 27-28, 1998
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  • Article
    MERKET SUMMARY
    58 1 □limn MUI (+15.76) wmwr-m LJH7JH(+6.42) WWVTOOMP L-J MBJSO (+8.94) BTBGA wm (+18.93) gfQg MAHET MMCBB Friday Change KLSE COUP -171 mXKH *****-04 +rva HANG SENO_.._M«7JI -*7J7 SET INDEX SS4J6 *m JAKARTA COMP—490J7 CLSA CHINA B 1.7SU7 +I4J4 MANILA 7J81JI -4M8 TAIPB _—MU -IM SEOUL OOMP. 80.74 +1JI AUSTALLORD
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  • Article
    FINANCE
    73 1 romiiiBB US$ St US» 1.871 £(USS/Slper£) 1.870 1793 DM L7I7 0.931 YEN 14 li 1.182* RM 4.049 Mil HKS 7.748 8111 BAHT 41ii 8.848 MJPtAH ***** 8.811* •SttoMVunttl PUKE BATES SINGAPORE* m KUALA LUMPUR IliO JAKARTA 28.00 BANGKOK 14.75 MANILA AM HONGKONG 10.25 TAIPEI A80 SYDNEY 8.46 TOKYO 2.60
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  • Article, Illustration
    Bank Negara cuts banks' reserve requirements
    764 1  -  2-percentage-point cut will release about RMBb into banking system Froml Eddie Toh in Kuala Lumpur THE Malaysian central bank yesterday slashed the statutory reserve requirements (SRR) of financial institutions by a further two percentage points to release some eight billion Malaysian ringgit (553.3 billion)
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  • Article
    Retrenchments likely to top 25,000 this year: MOM
    459 1  -  Number bid-off In the first 5 months has hit 12,000 By. Audrey Tan [SINGAPORE] The number of retrenched workers this year is likely to exceed 25,000, higher than the government had initially estimated, Minister of State for Manpower Othman Haron Eusofe said
    459 words
  • Article
    S'pore property stocks surge ahead of off-budget measures
    412 1  -  But analysts say sector already ripe for technical rebound By < Wong Wei Kong [SINGAPORE] Property stocks jumped sharply yesterday on speculation that the off-budget initiatives the government will announce on Monday would contain measures that would give a big boost to
    412 words
  • Article, Illustration
    Lock icon Windows 98 packs them in
    69 1 [SINGAPORE J It was a reprise of Windows 95 three years on. Yesterday at Suntec City where Microsoft launched its new PC operating system, enthusiastic crowds startedforming early to get a copy of the software. At hand to count down the launch was Microsoft Singapore
    ARTHUR LEE  -  69 words
  • Article
    CK Tang posts its biggest loss of $47.6m
    525 1  -  By. Jenny Lam [SINGAPORE] Retailer CK Tang yesterday reported a staggering full-year loss of nearly $47.6 million, the biggest loss ever in the company's history, due largely to provisions amounting to $30.3 million. To tidy up its accounts and to facilitate a
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      173 1 mauiH May intatrial Mtpot torn 15% For the first five months of 1998, cumulative growth in manufacturing output was 3 per cent year-on-year, while electronics posted a marginal decline of a 4 per cent, F|2 The company's earnings were badly hit in the second half of its fiscal year, when
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      76 1 AMKRk'.YS I In V VTr, A i\ I KH > K (as Arrived in ,S(.N(VMM >RK. Ml )\L 111 OF CHICAGO THE LEGEND THE STEAKHOUSE E\< 11 S|\| n l si)A Prime Aged Bfff Frfsh Fish seafood PRIX ATE Bo\RDR< )< )\1 DINING K\( ENIONAI XVINES DINNFR SERX'ED N'KiH I
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  • SINGAPORE AT HOME & ABROAD
    • Article
      May industrial output down 4.5% on electronics' 9.6% fall
      317 2  -  Cumulative growth in manufacturing output for first 5 months stands at 3% By\ David Boey DRAGGED down by a sharp 9.6 per cent plunge in the electronics industry, total manufacturing output fell 4.5 per cent in May, figures released yesterday by
      317 words
    • Article
      Fall in visitor arrivals slows to 5.9% in May
      295 2  -  Indon arrivals up sharply, Japanese continue to drop By i Carol Eng AFTER seven straight months of double-digit declines, the slide in visitor arrivals eased in May to a 5.9 per cent fall, due largely to a sharp increase in Indonesian
      295 words
    • Article
      MAS auctions first 10-year bonds
      306 2  -  Sale a bid to soak np liquidity of $900 m from money market Siow Li Sen Siow Li Sen THE Monetary Authority of Singapore (MAS) yesterday auctioned its first 10-year bonds, in a larger amount than its maturing bonds to help soak up liquidity from
      306 words
    • Article, Illustration
      Water rates to go up to instil need to conserve: minister
      358 2  -  No increase in tariffs for non-domestic consumers By] Kan Yi Kang DESPITE the economic downturn, Singapore must press on with water conservation efforts and raise water tariffs and conservation tax as planned on July 1, Trade and Industry Minister
      358 words
    • Article
      Asian investors in China advised to switch to services
      522 2  -  Chinese economist sees sector opening np when joblessness 'explodes' By] Lu Ning SINGAPORE and other Asian investors in China could do well to consider switching their strategic focus to the services sector, in areas where they enjoy a comparative advantage, from
      522 words
    • Article
      WI Carr lays off equity sales staff
      277 2 INDOSUEZ WI Carr Securities yesterday laid off three equity sales people in Singapore and another three in Hongkong in a cost-cutting move. In a statement which provided no other details, WI Carr said the retrenchment resulted from "a reallocation of responsibilities" involving the
      277 words
    • Article
      Earnings fall in over 80% of firms surveyed: SCCCI
      293 2 MORE than 80 per cent of companies surveyed recently by the Singapore Chinese Chamber of Commerce and Industry (SCCCI) slowdown in business since January this year. A similar proportion also said they have seen a "significant drop in earnings". The SCCCI
      293 words
    • Article
      Asian hotels urged to tie up or merge with global players
      349 2  -  Up to USslsb of capital eyeing Amu property: banker Ryi Carol Eng HOTEL owners in Asia need to consider joint ventures or mergers with international players to maintain their competitive position, said a JP Morgan banker yesterday at the
      349 words
    • Article
      CPF lifts limits on fixed deposit investments
      626 3  -  But board cats list of approved banks to the six major local players By Clarissa Tan IN an ongoing bid to liberalise the Central Provident Fund (CPF), the CPF Board said yesterday it would lift all restrictions on investing in fixed deposits. But
      626 words
    • Article, Illustration
      Lock icon Bukit Sembawang relaunching St Nicholas houses at 30% less
      401 3  -  Prices of 99-year terrace units start at $780,000 By Diana Oon LISTED developer Bukit Sembawang is relaunching its 99-year leasehold terrace houses in St Nicholas View at prices from $780,000 30 per cent lower than launch prices just over a year
      CHRIS LOH  -  401 words
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      82 2 Results of tender for taxable book-entry Government Bond 1998 due 1 July 2000 and 1 July 2008 to be issued on 1 July 1998 Tenor approx. 2 years approx. 10 years Amount Offered 551,500,000,000 551,500,000,000 Amount Applied 552,484,050,000 553,156,704,000 Interest/Coupon Rate 3.25% p.a. 5.625% p.a. Average Yield Price 3.35% p.a.
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      8 2 Call C.A.T.S. at 1800-737-1166. CATS. Another Classified Service
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      452 2 THE WEATHER Singapore Fair. Temperature(24/30C) Aate-Padflc WHl* OtmL Jerusdem UD doudv Stockholm MVIB doudy Auckland 8/14 showers Meret <Wr Vienna 17/28 storms Hanoui 27/33 showers Zanrh doudy h|« 2>29 far Pi HI WHI* CM. Boutay 24/30 showers Aaftrdaa 13/21 showers hmrrtn WHI* Good. Hnnbane 11/19 doudy Aim 22/30 doudy Bum*
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      50 3 SINGAPORE HOTELS IN ASIA PACIFIC: BAI-I BANGKOK e ISLE OF PINES '98 •JAKARTA KOH SAMUI MEDAN '99 MELBOURNE NEW DELHI NOUMEA TAHITI '98 PHUKET PORT VILA BORA BORA 98 SAIPAN '99 SINGAPORE SINGAPORE CHANGI THE GOLDEN TRIANGLE TOKYO TOKYO II 98 Sunday Classified Clarke Quay Every Sunday, 9am spm |cat.s|
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      Page 3 Advertisements Column 2
      46 3 I the latest I I WORLD CUP '98 news in I The Sunday Paper 1 MHthe new paper I Get Your Copy I I on 28 June'9B I I From 1 Oam onwards! I I SPH Press Kiosks, BP, CALTEX, Esso, Mobil, SMI, SPC, Borders, I
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  • FOCUS: PERSONAL FINANCE & INVESTMENT
    • BULL'SEYE
      • Article, Illustration
        BT Sentiment Index
        622 4 Those polled for their views on the Singapore stock market outlook for next week were: Daiwa, DBS, GK Goh, Kay Hian, Lum Chang Securities. Neptnne Orient Lines (Maintain Hold) Paribas Asia Equity, June 26, SO. 52 Following our discussions earlier this week with NOL, we have cut
        622 words
      • Article, Illustration
        In My Opinion
        448 4  -  Flavia Cheong Investment Manager Aberdeen Asset Mamgaman* Aria HE shakeout in the I Asian bond market X as a result of the financial crisis is healthy for the longer-term development of the market. Prior to the meltdown, Asian bonds were a poor bet for discerning investors with
        448 words
    • Article, Illustration
      Lock icon Here's how you earn over 14% on your fixed deposit
      643 4  -  But first you must invest at least $200,000 in the Schroders European Equity Fund to qualify for this OCBC offer By\ Siow Li Sen [SINGAPORE] Domestic interest rates have been rising, but earn over 14 per cent interest on a
      FILE PHOTO  -  643 words
    • Article, Illustration
      Lock icon A strong case for diversification
      359 4  -  By\ Shiv Taneja [SINGAPORE] If buy and hold is the mantra of long-term equity investors, then what are we to make of a handful of Asian stockmarkets which are right back to where they started out 13 years ago? The accompanying chart from financial vendor
      Source: Datastream  -  359 words
    • Article, Illustration
      Lock icon More upside seen for Viagra maker's stock
      492 4  -  Salomon bullish on Pfizer, sees no serious competition to the drug By! Shiv Taneja [SINGAPORE] Impotence cure and aphrodisiac Viagra may still be out of reach for most Asians, but manufacturer Pfizer Inc, which has been described as the closest thing to a
      FILE PHOTO; Source: Bloomberg  -  492 words
    • Article
      ACU DEPOSIT RATES Offered by various banks (as at June 25. 1998)
      669 4 Dtpwit ——it H*» >*m 6-mtk P—«* H»t> 3-mUt i-m«i Bank of CMm SwFr SW.000 S«f99,999 1.2600 1.2900 ***** SwFWO.OOO SwfT49,999 ***** 1.3900 1.2800 10.000 49,999 4.8125 4.8125 4.8125 llcC 50.000 Above 4.9375 4.9375 4.9375 US5.000 US9.999 5.1000 *****
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  • MARKETS IN TURMOIL
    • Article
      Crucial for S'pore to stay afloat, says HK
      360 5  -  From. Loh Hui Yin in Hongkong HONGKONG wants to see Singapore weather the regional economic crisis well because any further deterioration in South-east Asia will affect the territory, Financial Secretary Donald Tsang said yesterday. "Hongkong cannot totally escape from what happens in
      360 words
    • Article
      Lock icon Seoul to issue bonds worth 4t won
      186 5 Bloomberg AFP [SEOUL] THE South Korean government plans to issue state bonds worth 4 trillion won (Ss4.B billion) to raise funds to help ease unemployment and boost the economy, officials said yesterday. The bonds will be purchased by the Bank of Korea to
      Bloomberg; AFP  -  186 words
    • Article, Illustration
      Lock icon US not ruling out buying yen again to boost it: Rubin
      518 5 China pledges to keep exchange rate peg to avoid deeper Asian crisis, he says Bloomberg [BEIJING] The US has not ruled out buying yen again to strengthen the Japanese currency, US Treasury Secretary Robert Rubin said. Mr Rubin, speaking
      Bloomberg; REUTERS  -  518 words
    • Article
      Lock icon Rupiah falls despite fresh loans
      373 5 Reuters [JAKARTA] Desperately needed foreign loans to bail out Indonesia's stricken economy were set to resume yesterday, a day after a fresh accord with the International Monetary Fund, but the news did nothing to breathe life into the battered rupiah. Analysts said that despite a
      Reuters  -  373 words
    • Article, Illustration
      Lock icon Asian crisis is far from over, says IMF chief
      326 5 AFP [PARIS] IMF director-general Michel Camdessus said in an interview published here yesterday that there would be "no early end to the Asia crisis" and he admonished Japan for taking so long to adopt remedial measures. He said Japan's tardiness had
      AFP  -  326 words
    • Article
      Lock icon Int'l bank's letter of credit helps Pertamina import oil
      252 5 Reuters [TOKYO] Indonesian stateowned oil firm Pertamina has made one of its first imports of crude oil supported by a letter of credit (LC) from an international bank, oil trade sources said yesterday. The breakthrough comes after several deals fell through
      Reuters  -  252 words
    • Article
      Ringgit worst hit as regional units swing with yen
      379 5  -  Market players bracing for rough ride next week Larry Wee [SINGAPORE] Regional currencies had another wild ride with the Japanese yen yesterday, with the ringgit appearing especially vulnerable, traders reported. At its 143 low yesterday morning, the yen was at its
      379 words
    • Article
      Nikkei up on news of LTCB, Sumitomo talks
      537 5  -  Move seen as a sip that Japan's finally working on banking system From, Anthony Rowley in Tokyo NEWS that Japan's ailing Long-Term Credit Bank (LTCB) is considering a merger with the stronger Sumitomo Trust and Banking was greeted yesterday by analysts and
      537 words
    • Article
      Manila central bank threatens to sue Moody's
      289 5  -  From, Al Labita in Manila THE Philippine central bank yesterday threatened to sue US credit rating agency Moody's if the latter fails to prove its allegation of "widespread corruption" among the central bank's bank examiners. "We believe that this constitutes a serious indictment,"
      289 words
    • Article
      Big Korean banks under govt pressure
      474 5  -  Seoul wants top five healthy banks to acquire six sick ones By, Jennifer Veale in Seoul SOUTH Korea's beleaguered banking sector faces a big shake-out within days as the government tries to persuade the nation's healthy banks to acquire ailing ones. In a bid
      474 words
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      991 6 COMMERZBANK^fe 1997 31 Dec 1996 1997 31 Dec 1996 Assets (in DM m) Liabilities and Shareholders' Equity On DM m) Cash on hand 1 343 1 391 Liabilities to banks 99,109 100,001 Balances with Central Banks 5,431 6,566 Liabilities to customers 184,330 161,863 Bills of exchange 1 645 1 545
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  • REGION
    • Article
      Air traffic slump looms as new KL airport opens
      662 7  -  But analysts say building it is good move for fntnre; costs kept down From. Ruth Wong, Felix Chan tn Singapore MALAYSIA'S new multi-bil-lion-ringgit international airport opens officially today to lower-than-expected demand as the regional economic and financial turmoil curtails tourist arrivals.
      662 words
    • Article, Illustration
      Lock icon Japan is in serious crisis, says Mr Yen
      408 7 TOKYO Reuters JAPAN'S top financial diplomat Eisuke Sakakibara said yesterday that Japan was in its first postwar firtancial crisis, but added that the government's ability to clear up the banking sector's bad-loan mess should not be underestimated. "We are in a serious
      Reuters  -  408 words
    • Article
      Lock icon NZ March quarter GDP worse than expected
      243 7 WELLINGTON Reuters THE New Zealand dollar bore the brunt of worse than expected March quarter GDP figures released yesterday and economists expected the central bank to relax its monetary policy stance in the near term in response. Statistics New Zealand (SNZ) said seasonally-adjust-ed
      Reuters  -  243 words
    • Article
      Lock icon Goldman Sach's Gerald Corrigan to advise BOT
      360 7 BANGKOK He has been counseling Tarria since December Bloomberg THAILAND is getting some more free advice from E Gerald Corrigan, a Goldman, Sachs Co partner and former governor of the Federal Reserve Bank of New York who already counsels the Thai government. Mr
      Bloomberg  -  360 words
    • Article
      Bodies of nine N Koreans lifted from submarine
      426 7  -  Analysts do not expect North-South ties to be derailed From. Jennifer Veale in Seoul SOUTH Korea's five-day spy saga ended yesterday as the corpses of nine North Koreans were lifted from a captured submarine but analysts do not expect growing business ties
      426 words
    • Article, Illustration
      Lock icon Daim's swearing-in ceremony
      60 7 [KUALA LUMPUR] Malaysian Deputy Prime Minister and Finance Minister Anwar Ibrahim (left) chatting with Malaysia's new Minister of Special Functions Daim Zainuddin during the latter's swearing-in ceremony at the Istana Negara in Kuala Lumpur yesterday. The 60-year-old business veteran and former finance minister was sworn in as
      REUTERS  -  60 words
    • Article
      Lock icon HK topples Japan as top air cargo handler
      238 7 TOKYO AFP HONGKONG has taken over from Japan as the world's largest air cargo handler, pushing Tokyo's Narita airport off the top spot for the first time in 10 years, officials said yesterday. Hongkong's Kai Tak international airport received and sent 1,564,000
      AFP  -  238 words
    • Article
      Thais to ask US for concessions
      435 7  -  Bangkok to ask Rubin for better trade, finance terms From Harish Mehta in Bangkok THAILAND plans to ask the US for a number of concessions on trade and finance when Treasury Secretary Robert Rubin arrives here for a one-day visit on Monday. Thai Commerce
      435 words
    • Article
      Lock icon Don't be swayed by West, says Mahathir
      269 7 KUALA LUMPUR AFP MALAYSIAN Prime Minister Mahathir Mohamad yesterday urged local students to be independent in assessing the country's crisis and not fall prey to foreigners intent on toppling the government. Speaking at a seminar attended by some 300 student leaders from local
      AFP  -  269 words
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  • THE WORLD
    • Article, Illustration
      Lock icon Dissident detentions threaten to cloud summit
      540 8 CLWTON DT CHINA Clinton to raise issue with Jiang today; Bering rebukes interference' Reuters AFP [BEIJING] A row over dissident detentions yesterday threatened to cloud the first China-US summit in nine years after Beijing brushed aside concerns by US President Bill Clinton as interference
      Reuters; AFP; REUTERS  -  540 words
    • Article
      Lock icon Sino-US summit: results likely to be mixed
      412 8 XIAN Reuters TODAY'S US-China summit is expected to produce accords on energy, health and rule of law but concrete progress on major issues such as human rights and trade is unlikely and movement on missiles is uncertain, a senior US official said yesterday.
      Reuters  -  412 words
    • Article
      Lock icon No change in Taiwan position: Clinton
      253 8 XIAHE AFP THE United States will not bow to Chinese pressure to water down its support for Taiwan, President Bill Clinton said here yesterday. "Our position with regard to Taiwan is embodied in three communiques and in the Taiwan Relations Act and in the
      AFP  -  253 words
    • Article
      Lock icon US consumer spending up in May as incomes rise
      348 8 WASHINGTON Bloomberg CONSUMER spending accelerated in May while incomes increased, signs US domestic demand is offsetting the ill effects of Asia's economic slowdown on the nation's manufacturers. Spending rose 0.6 per cent in May led by autos after increasing 0.4 per
      Bloomberg  -  348 words
    • Article
      Lock icon Russian markets take a beating
      212 8 MOSCOW USs67om IMF loan too small to ha ve impact, say traders Reuters RUSSIAN markets took a fresh battering yesterday amid new fears about the country's financial plight and the Kremlin said President Boris Yeltsin would stay in Moscow to monitor the crisis. Traders said
      Reuters  -  212 words
    • Article
      Lock icon US line-item veto law struck down
      115 8 WASHINGTON FT THE US Supreme Court yesterday struck down a law that expanded the president's power to veto individual spending and tax items, in what constitutional scholars described as one of its most important decisions in years. By a 6-3 vote, the justices declared
      FT  -  115 words
    • Article
      Lock icon Powerful US panel backs MFN for China
      384 8 WASHINGTON Ways and Means legislators to support Clinton decision Reuters THE powerful House of Representatives Ways and Means Committee on Thursday voted to back US President BUI Clinton's decision to renew China's trade status and urged fellow legislators to reject attempts to sever
      Reuters  -  384 words
    • Article
      Lock icon Gingrich gives priority to IMF funding, fast track
      355 8 WASHINGTON Reuters US HOUSE Speaker Newt Gingrich on Thursday promised that Congress will act on fast-track trade legislation and funding for the International Monetary Fund, reviving White House initiatives many thought were dead for the year. Under pressure from agriculture and other
      Reuters  -  355 words
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      41 8 LADY T "Lady T": a young and confident look which all wearers will value. CORUM 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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  • Page 8 Miscellaneous
    • Miscellaneous
      Page 8 Miscellaneous Column 1
      101 8 DOONESBPRY By Garry Trudeau I OH, &MMEA BREAK TAYLORSO? /VS A STEP IN 778 I MHEPOONES*JRYPONT)aA YOU PO 20% OF THE WORK, TOPS! RJGHTPIRECTTON.'OURSON IHVS GENERA-1 SAYThATim I MFUJERE JUST TALKINGAOOUT\ IT JUST seem U& A LOT TO tutu, 3EAOLEIDBUILPON \vONSWU. \mM M ITHE JOYS OF HANPS-ON FffMR-X *>U BECAUSE
      101 words
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  • ISERS Trends
    • Article, Illustration
      Lock icon Lessons from Latin American crises
      1365 9  -  Asia's recovery will be slower than Latin America's after 1994, because of large private debts and unstable exchange rates, says p mimtw Manuel F Montes Dr Manuel F Montes is a Senior Fellow at the Institute of Southeast Asian Studies. LATIN American experiences in balance-of-pay-ments
      REUTERS  -  1,365 words
    • Article, Illustration
      Lock icon Dilemmas of stability, reform in Habibie's Indonesia
      1109 9  -  The stability needed for economic revival is still not assured By\ Donald K Emmerson Professor Donald KEmmerson teaches political science at the University of Wisconsin -Madison. His latest publication is Indonesia's Coming Succession (National Bureau of Asian Research, Seattle, Washington, 1998). INDONESIAN President
      AFP  -  1,109 words
    • Article, Illustration
      Lock icon Hie Indonesian military in a new environment
      1115 10  -  The greatest challenge will be keeping stability at a time of economic dislocation and political change, says Johns Baseman John B Baseman John B Haseman is a retired US Army Colonel and a former Defence Attache to Indonesia. He lectures frequently on Indonesian
      AFP  -  1,115 words
    • Article
      Social consequences of the Asian crisis
      1247 10  -  After the humiliation suffered in this crisis, Asian patriotism should grow By. Abdul Rahman Embong Assoc Prof Abdul Rahman Embong lectures in the Department of Anthropology Sociology, Universiti Kebangsaan Malaysia (UKM) and is an Associate Fellow at the Institute of Malaysian International Studies, UKM^
      1,247 words
    • Article, Illustration
      Lock icon Why India tested
      1202 11  -  FOCUS ON SOUTH ASIAN NUCLEAR TESTS The nuclearisation of South Asia underlines the urgent need to undertake confidence-building measures and open dialogue between India and Pakistan and India and China. Pipankar Banerjee explains Dipankar Banerjee Major-General Dipankar Banerjee (retired) is the Co-Director of the Institute of Peace
      REUTERS  -  1,202 words
    • Article
      Why Pakistan had to respond
      1042 11  -  A nuclear arms race is now more likely. The major powers should act to contain it By' Talat Masood Lt-Gen (retired) Talat Masood is a former chairman of Pakistan Ordinance Factories Board and, subsequently, Secretary of Defence Production, Ministry of Defence, Islamabad. WHEN India detonated
      1,042 words
    • Article, Illustration
      Lock icon A very important visit to China
      1234 11  -  A look at the domestic (American) politics of Clinton's visit to China By< William Bodde Jr Ambassador William Bodde Jr. a retired United States Ambassador, was the first Executive Director of Apec. He now serves as a Special Advisor to the Pacific Basin Economic
      REUTERS  -  1,234 words
    • Article, Illustration
      Lock icon Interests matter, not government systems
      879 12  -  FOCUS: DO DEMOCRACIES FIOHT EACH OTHER? If war between certain democratic countries seems to have become unthinkable, it is mainly due to unique historical and cultural factors, writes Denny Roy Denny Roy Dr Denny Roy is with the Naval Postgraduate School, Monterey, California. THE recent
      REUTERS  -  879 words
    • Article
      The jury is still out
      1118 12  -  The democratic peace theory has prima facie validity in so far as it applies to mature western democracies. Bnt the theory remains untested in Asia By\ Daljit Singh Daljit Singh is a Senior Fellow at the Institute of Southeast Asian Studies and Editor of Trends.
      1,118 words
    • Article
      New vistas on the development highway
      1584 12  -  HARMESSDTOXNTEUECTUAI. CAPITA!. A look at the challenges of information and communications technology By, Amyn B Sajoo Dr Amyn B Sajoo is a former Canada-Asean fellow at ISEAS, and is currently an independent consultant in Vancouver. PIFTY years ago in June, the digital computer made
      1,584 words
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      145 9 Iff MASTER OF ARTS IN ASIA PACIFIC STUDIES An internationally-recognised qualification awarded by one of the UK's premier institutions, the MA provides comprehensive coverage of contemporary business politics in China, Japan, Korea, Indochina Myanmar, SE Asia and the Pacific Rim. j. OUR 17TH INTAKE COMMENCES 29 AUG 1998. UNIVERSITY OF
      145 words
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      199 10 Forum to examine regional political and security issues The political, strategic and security implications of the regional financial crisis will be the key focus of a forum the Institute of Southeast Asian Studies (ISEAS) will be organising next month. The Forum on Regional Political and Strategic Developments will be held
      199 words
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  • SPORTS
    • Article, Illustration
      Lock icon Argentina wins 1-0 to top group
      622 13 WORLD CUP'9B Both teams happy after Pineda scores against Croatia in a game that lacked fire Reuters [BORDEAUX] Hector Pineda's first goal for his country gave Argentina a 1-0 win over Croatia yesterday and earned them first place in World Cup group H. Pineda
      Reuters; REUTERS  -  622 words
    • Article
      Lock icon Japan dominate game but lose to Jamaica
      447 13 Reuters [LYON] Two goals from Theodore "Tapper" Whitmore gave Jamaica a 2-1 win yesterday over Japan, their first in a World Cup finals, in an entertaining group H game where pride more than points was at stake. Japan leave after their debut on
      Reuters  -  447 words
    • Article
      A day when things went right
      661 13  -  Nice to see spirited Mexicans make it, not boring Belgians Shahiron Sahari THERE may be a football god after all. After witnessing the misfortunes and injustices that had befallen Morocco and Cameroon in previous days, it was satisfying to see the spirited Mexicans get
      661 words
    • Article
      Down to business
      332 13  -  By Shahiron Sahari Sf Down to business World Cup viewing guide The ones to watch Italy vs Norway (10pm) Brazil vs Chile (2.30am, Sun) New we get down to the serious business. Italy sent Norway packing at USA 94, so revenge, on top of their unpopularity, is
      332 words
    • Article, Illustration
      Gan and Soda win BT golf bash
      236 13 BT ADVERTISING GOLF TOURMAMEMT [SINGAPORE) Dino Kwek shot a six-under-par 66 to be the top professional at The Business Times Advertising Golf Tournament yesterday. He finished a stroke ahead of Lim Kian Kee at the Tanah Merah Country Club's Tampines Course and earned
      236 words
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      307 13 CUSTODIANS HOLD PRIVATE COLLECTIONS NOBLE SILK ART/WEALTH IN EXCESS USSISO.OOO.OOO LOCATED IN THEIR PRIVATE INTERNATIONAL FREE ZONE. Vevey. Switzerland incli"»i"g samples of Museum and Historic Levels Frank* SKI Auction cst acting as licenced auctioneers duly instructed by CUSTODIANS SUPERINTENDENCE AND TRUSTEES COMPANY S.A. Custodians Art/Wealth Assets Superintendence Copyright, Levels /Criteria
      307 words
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  • COMPANIES & MARKETS
    • Article
      Metro $3.3m in the red
      554 14  -  Losses mainly due to Son Cruises, bat group expects return to profit this year By, Jenny Lam [SINGAPORE] Metro Holdings has slipped into the red with a loss of $3.3 million for the year ended March 31, 1998, due mainly to losses incurred by its
      554 words
    • Article
      Isetan net falls 33% to $4m as haze, regional crisis bite
      416 14  -  By\ David Boey [SINGAPORE] Department store chain Isetan (Singapore) saw its fortunes change dramatically when the smog from forest fires and the financial turmoil hit regional businesses from July last year and said yesterday that prospects for its coming
      416 words
    • Article
      Lung Kee profit flat at HK$100m
      153 14 [SINGAPORE] Lung Kee Metal Holdings yesterday posted flat net profit of HK$lOO million (5521.6 million) for the year ended March 31. Sales of the Hongkongbased metal mould base maker grew 20 per cent to HK5476.9 million. Lung Kee did poorly in the second half,
      153 words
    • Article
      Talk of HK fund repatriations should be treated with caution
      866 14  -  HOCK LOCK SIEW Quak Hiang Whai AMAZING how the Hang Seng Index could produce one of its most spectacular rallies in weeks when it reacted on Thursday to news that a massive injection of liquidity is in the offing. With
      866 words
    • Article
      DBS Bank denies it's buying Stanchart stake
      312 14  -  No ongoing talks on acquiring Khoo Teck Pnat's 15%, it says Conrad Raj [SINGAPORE] DBS Bank has denied reports that it is buying a stake in the Standard Chartered Bank. "We are not aware of the rumours or any ongoing negotiations," a bank
      312 words
    • Article
      VDH posts $11m interim net loss
      323 14  -  But extraordinary gain of $11.4 m saves its bottomline By] Lee Han Shih [SINGAPORE] Listed infrastructure company Van der Horst yesterday announced an interim net loss of just under $11 million, but managed to save the day with an extraordinary gain of $11.4 million.
      323 words
    • REGIONAL COMPANIES
      • COMPANYBriefs
        • Article
          KMP transfers 5.8% stake in UIC
          48 15 [SINGAPORE] KMP United Ventures Pte Ltd, which is controlled by Indonesia's Salim family, has transferred a 5.8 per cent stake in United Industrial Corp to Bank America Nominees (1993) Pte Ltd. But the 78.66 million shares are still beneficially owned by KMP.
          48 words
        • Article
          Parkway unit soils Aussie property
          93 15 [SINGAPORE] Parkway Holdings Limited said its 30 per cent owned Australian unit has sold its Como Centre property in South Yarra, Melbourne, for As 93 million (5594.5 million). The buyer, Mirvac Property Trust, will pay for the deal in cash. Five per cent was due
          93 words
        • Article
          GB Holdings' net loss mora than triples
          100 15 [SINGAPORE] Luxury boat builder GB Holdings' net loss more than tripled to 96 million for the year ended March 31 as turnover slipped 15 per cent to $36.3 million. At the operating level, GB suffered a $1.5 million loss, which was worsened by
          100 words
        • Article
          J Y Pillay Joins MAS board of directors
          49 15 [SINGAPORE] The government announced yesterday the appointment of J Y Plllay, currently Singapore's High Commissioner to the United Kingdom, to the board of directors of the Monetary Authority of Singapore with effect from July 1 for a period of two years.
          49 words
        • Article
          CarnaudMetalbox Asia sells 80% of TSD
          84 15 [SINGAPORE] CarnaudMetalbox Asia has sold 3,893,920 shares or 80 per cent of its 100 per cent holding in CarnaudMetalbox Technical Services Pte Ltd (TSD) to a group of investors comprising the management of TSD. The consideration of $40,000 was negotiated at arm's length. The
          84 words
        • Article
          Corrections and clarifications
          108 15 KIM Eng Holdings said the dividend payout of $21 million by Kim Eng Holdings (Hong Kong) Ltd (KEHHK) and the extraordinary gain of $19 million from the disposal of the 40 per cent stake in KEHHK had been eliminated from the group net operating profit of $10.5
          108 words
      • Article
        High debt provision made only to be prudent, says ASA
        337 15 [SINGAPORE] Sesdaq-listed chip equipment maker Advanced Systems Automation (ASA) yesterday said its high second-half doubtful debt provision was a prudent move and that it was "very confident" about its customers' ability to pay their debts. "We just want to be
        337 words
      • Article
        LC-Nichimen housing project
        247 15  -  By\ Diana Oon [SINGAPORE] LC Developments has teamed up with Nichimen (Singapore) Pte Ltd to develop a residential project on Holland Road. Nichimen, which owns Cornwall Mansions, has agreed to merge the site with three other adjoining projects already owned by LC for a larger redevelopment site.
        247 words
      • Article
        Proton suffers 41% fall in net profit to RM441m
        453 15  -  Carmaker hit by dismal sales in Q4« say analysts; results lower than forecast From, Ruth Wong in Kuala Lumpur CARMAKER Perusahaan Otomobil Nasional (Proton) reported a sharply lower-than-expected group net profit of 440.6 million Malaysian ringgit (*****.6 million) for the year
        453 words
      • Article, Illustration
        Lock icon BHP reports A$2.8b asset writedown
        602 15  -  From, Russel Baker in Sydney BELEAGUERED resources group BHP yesterday announced asset writedowns of A 52.77 billion (Ss2.B billion) which have forced the company to report a bottomline loss of A 51.47 billion for the year to May 31. The overall loss is only BHP's
        AFP  -  602 words
      • Article
        Lock icon HK securities watchdog's new head
        160 15 AFP [HONGKONG] The deputy chief executive of the Hongkong Monetary Authority (HKMA) has been appointed to head the territory's markets watchdog, the Securities and Futures Commission, the government said yesterday. Andrew Sheng Len-tao takes over from Anthony Neoh, who will stay on in his post
        AFP  -  160 words
      • Article
        Lock icon Oriental Press Group chief quits
        204 15 AFP [HONGKONG] The chairman of leading Hongkong publisher Oriental Press Group (OPG) has resigned, saying he wants to seek business opportunities overseas, a report said yesterday. Ma Ching-fat, who is also chief executive of the publishing group, said in a front-page announcement in the group's
        AFP  -  204 words
      • Article
        Lock icon GE Capital gets Thai loans at half price
        341 15 Hot start for fire sale of failed finance firms' USs2lb assets FT [BANGKOK] Thailand's fire sale the auction of US$2l billion (Ss3s billion) of assets seized from 56 bankrupt finance companies that closed down last year got off to a roaring start
        FT  -  341 words
      • Article
        Cold Storage taking cautious approach towards acquisitions
        446 15  -  From. Ruth Wong in Kuala Lumpur CASH-RICH property concern Cold Storage is not in a hurry to acquire new assets or listed firms due to the weak economic climate, executive chairman Chung Wai Meng said yesterday. Mr Chung said the company has been
        446 words
      • Article
        Lock icon Adobe Q2 profit falls 30% to US$29.3m
        216 15 Bloomberg [SAN JOSE, California] Adobe Systems Inc, the No 1 maker of desktop software for sophisticated graphics, said its fiscal second-quarter earnings fell 30 per cent, beating expectations, as a new version of Photo Shop helped minimise a sales decline. Its net income
        Bloomberg  -  216 words
    • FINANCE & COMMODITIES
      • Article
        Simex unveils lower fees for regional index seats
        632 16  -  It hopes to draw new members with 100 restricted seats at $150,000 each By! Siow Li Sen [SINGAPORE] The Singapore International Monetary Exchange (Simex) yesterday announced lower membership fees, in an attempt to get stock exchange members' support for its soon-to-be-listed equity
        632 words
      • Article
        AFC Merchant gets US$80m facility
        268 16  -  Revolving credit supplied by 23 shareholder Byi Conrad Raj [SINGAPORE] Singaporeincorporated AFC Merchant Bank yesterday obtained standby funds of US$BO million (*****.7 million) from a syndicate of 23 shareholder banks to fund its operations here. According to bank chairman Piti Sithi-Amnuai, the facility is the
        268 words
      • Article
        Lock icon HKCB Bank merits no takeover premium
        333 16 AFX-Asia [HONGKONG] HKCB Bank Holding Co Ltd shares do not merit a takeover premium after news of talks on the possible purchase of Lippo China Resources Ltd's stake in the bank by China Resources Enterprises Ltd, analysts said. China Resources said on Thursday it
        AFX-Asia  -  333 words
      • Article, Illustration
        Lock icon US dollar generally on an uptick
        450 16 USS/mark: The greenback traded generally higher this week from Tuesday's low of 1.7890 to a high of 1.8057 on Wednesday, before retracing marginally to trade around the 1.80 level yesterday morning. The outlook remains mixed for the unit. On the downside, strong support is
        Source: DBS Bank  -  450 words
      • Article
        Lock icon Euroyen rebounds on LTCB merger news
        250 16 SSXEK Report Reuters [SINGAPORE) Simex Euroyen futures rose late yesterday after news of a possible merger between Long-Term Credit Bank of Japan (LTCB) and Sumitomo Trust Banking Co Ltd lifted market sentiment out of the doldrums. A spokesman for Sumitomo Trust said a merger
        Reuters  -  250 words
      • Article
        Open interest for futures hits record high
        192 16  -  MSCI TAIWAN FUTURES Charlie Kuo Charlie Kuo, service dealer, Refco Singapore [SINGAPORE] Open interest for the Simex MSCI Taiwan Stock Index futures contract hit a record high of 26,114 contracts as on Thursday surpassing the previous record of 25,656 contracts on May 27.
        192 words
      • Article
        Lock icon Oil makes slim gains after Opec meeting
        243 16 ENERGY REPORT Reuters [LONDON] Oil markets edged up nervously yesterday as traders covered their positions ahead of the weekend while Opec's agreement to cut future output was still drowned out by concerns over the current oversupply. International benchmark Brent clawed back 15 cents
        Reuters  -  243 words
      • Article
        Lock icon CURRENCY REPORT
        280 16 Reuters TjfriMllE" THE dollar remained steady against the yen after hitting a new post-intervention high overnight. Comments by US Treasury Secretary Robert Rubin that Washington was still closely monitoring the timing of possible intervention put a constraint, traders said. Mr Rubin, speaking while visiting China with President Bill
        Reuters  -  280 words
      • Article, Illustration
        Untitled
        1187 16 nVTH&BAWX CROSS KATES Jun2 6 1 1 j a- ra asss :z z z m>£ Cm* 1120 5.660 0.619 <106 1225 5282 29.*****1926 0.964 9.453 2.761 1320 ***** ***** 1140 3270 1031 23.563 28.328 0208 0.6*2 CMM 0.198 0.177 0.109 0.725 0216 0.933 5.142 18.009 0.170 1.670 0.488 0235 5268
        1,187 words
    • Article
      COMMODITY PRICES
      1662 17 gCOMFOTOMg Jun26 RUBBER (Mures cfowq «t 5.30p«) RSS1 CONTRACT (S ct«U/ty) ClttM VolMM Opto Mawtti MjB Low Sott (towns) Intamt J«J 96 H4.50 114.50 117.50 50 500 fm 96 118.50 118.50 118.50 50 340 Sap 98 119.50 119.50 119.75 150 350 Od/Dac 98 122.50 4650 Jan/Mar 99 127.50
      1,662 words
    • Article
      WORLD STOCK MARKETS
      2309 17 LONDON Industrials J—2i hKI 31 Croup 6*6.000 unch AB Ports 345.400 0.400 Abbey Nation*) 1047.000 -12.000 AIM Domecq 566.000 2.000 Amtc 180.000 1.000 *KU Group 207.000 2.600 BAT Ind 600.400 4.000 BG Pic 343.000 5.000 BKX 141.000 2.000 BOC Croup 825.000 9.600 BR Petroleum 884.400 11.000 BTR
      2,309 words
    • Article
      Lock icon TOKYO
      1630 17 Bloomberg HWttattS *77.82 JAPANESE stocks rose following news that the ailing Long-Term Credit Bank of Japan Ltd may merge with Sumitomo Trust Banking Corp, ending weeks of unease about the former's future. The banks will merge in April 1999, Nikkei English News reported. LTCB said no formal decision had
      Bloomberg  -  1,630 words
    • Article, Illustration
      Lock icon HONGKONG
      1499 18 Reuters n Hang Seng -57.97 STOCKS recovered most of the morning's losses to close slightly lower yesterday, and brokers said next week's trend would again be dictated by factors affecting the Japanese yen. The Hang Seng Index closed 57.97 points lower at 8,607.86, after tumbling more than 250 points
      Reuters  -  1,499 words
    • Article, Illustration
      Lock icon CHINA
      578 18 Reuters Bloomberg PI Shenzhen B Index +0.58 SHENZHEN'S hard currency B Share Index closed marginally higher yesterday in a modest technical rebound after Thursday's sharp losses. But analysts said the thin turnover indicated the advance lacked momentum and might lose steam soon. The B Share Index edged up 0.58
      Reuters; Bloomberg; Source: Credit Lyonnais Securities (Asia) Ltd  -  578 words
    • Article
      Lock icon TAIPEI
      347 18 AFP □wp Index -40J8 TAIWAN stocks slipped yesterday on jitters over the depreciation of the local currency on the yen's weakness and a central bank decision not to lower bank reserves requirements, dealers said. The Weighted Price Index dropped 40.68 points to 7,681.96. "The main board was mainly affected
      AFP  -  347 words
    • Article
      Lock icon WELLINGTON
      264 18 AFP HWeffington +1&24 STOCKS rose after a speech from the central bank governor was seen to spell easier monetary conditions. The NZSE-40 Index was up 13.24 to 1,973.24. Turnover was worth NZ5122.1 million. Governor Don Brash warned the economy was facing a serious shock as a consequence of crisis
      AFP  -  264 words
    • Article, Illustration
      Lock icon BANGKOK
      803 18 AFP PISETIndei THAI share prices remained stable yesterday, posting a modest gain, despite the weaker Japanese yen and poor shape of the domestic economy, analysts said. Share prices were mixed amid a limited technical rebound and select buying of large caps, but prices closed off their highs in the
      AFP  -  803 words
    • Article
      Lock icon SEOUL
      415 18 AFP n Composite Index -1.03 SOUTH Korean share prices edged down yesterday as foreign and institutional selling offset early retail buying support. The Composite Index closed down 2.03 points to close at 298.54, off a low of 297.94 and a high of 305.13. Volume was 59.7 million shares worth
      AFP  -  415 words
    • Article
      Lock icon SYDNEY
      586 18 AFP nAH Ordinaries +17J AUSTRALIAN shares closed higher yesterday under the positive influence of rising offshore markets and renewed confidence in resources giant BHP. The All Ordinaries Index rose 17.9 points to 2,609.9, while the All Industrials rose 34.4 points to 4,563.7 and the All Resources Index rose 4.1
      AFP  -  586 words
    • Article, Illustration
      Lock icon JAKARTA
      736 18 Reuters rl Composite Index +2.06 STOCKS ended higher in thin trading yesterday, with the market largely ignoring Thursday's agreement between Indonesia and the International Monetary Fund, brokers said. The Composite Index ended up 2.06 points at 430.87, mainly on a rise in index heavyweights including Telkom, they said. Total
      Reuters  -  736 words
    • Article
      Lock icon MANILA
      305 18 AFP Q Manila +1134 PHILIPPINE share prices closed higher in slim trading yesterday, bolstered by lastminute bargain-hunting, brokers said. The Philippine Stock Exchange Composite Index rose 14.34 points to 1,723.37. Volume rose to 314 million shares worth 767 million pesos. Manila Electric Co A rose 50 centavos to 68.
      AFP  -  305 words
    • KUALA LUMPUR STOCK MARKET
      • Article
        Untitled
        8562 19 Consumer products '998 Kit Vol Day Net Cap HH> lam Cimewy Sale ■BOO Hlqli L— Pit %m» 310 180 Ajinomoto 218 12.0 98.4 148 59 Anqkasa 60 unch 20 60 59 1.4 88.5 290 123 Apollo Food Hlq 141 1 2 141 V41 4.1 56.4 388 190 Berjaya Land 226
        8,562 words
      • Article, Illustration
        Lock icon Shares follow yen, ringgit lower
        409 19 AFP CI Composite Index -2.75 MALAYSIA'S key stock index closed lower yesterday but off earlier lows, tracking the movement of the yen and the Malaysian ringgit, which fell past 4.00 to the US dollar, dealers said. The appointment of Daim Zainuddin, the economic adviser to
        AFP  -  409 words
    • WARRANTS&OPTIONS
      • Article
        Untitled
        3469 20 BONOS, LOANS ft WARRANTS m '998 Last Voi Day La»t Ouata A»q High Low Stno Company Sato ♦or- ('OOOI High Law Buyar Sallar Prlca 23.S 9 m 3000 m AMOB c5-5******6 )Q I I 9 5 13 20.5 5 3160 "Acar ******1 OSS 6.5 -0.5 3 6.5 6.5 5 7.5
        3,469 words
      • Article
        Keppel Land wrt: retreat not ruled out
        232 20  -  WARRANT WATCH Louis Beckerling WITH property counters commanding centrestage in the market yesterday, the warrants of Keppel Land were in demand, rising 2.5 cents to 20 cents on volume of 874,000. That 14.3 per cent increase in the warrant price was fueUed by
        232 words
    • Article
      CLOB INTERNATIONAL
      2386 20 Transaction date Jun 26 MALAYSIAN STOCKS Gr Gr 1998 Lwt Vol Day Laat Quota M) Dl« W M M Cap High Low stno Company Sal* (*000) High Lao Buyar SaMar C'vr H P/t JmH 135 28 mi 5000 AISB50c 49 *1 37 49 475 495 50 5.0 35
      2,386 words
    • Article
      STOCK EXCHANGE OF SINGAPORE: MAIN BOARD
      6462 21 TTransactiondale^ Or Or M m Leat VI Day Lost Ouete 0t» 0* Ytt Net Cap Atg m» low >tw» ciw>n m» rooot hm» u» —yr cw p/i »J 43 13 K520 ACE Dynamlcs20c__ 13.5 unch IH IS IIS 13 14 0.1 16-S 03 H-1
      6,462 words
    • Article
      SESDAQ
      1166 21 Or 6r M Wt iwa Last VM My Laat Owa«a M* Ml W M Ca« A v* u» WW* Cmrn—t rooo» H» U» ln« W«r Or >/l MMh 134 79 2000 A**HM«aSc 80 80 S3 3*0 M 243 45 2049 AS Auto 10c 72 *X5 408 72 66.5 715
      1,166 words
    • STOCK EXCHANGE OF SINGAPORE
      • Article
        Untitled
        218 22 Stacks Volume ITE EI«C 20c 14,102,000 Easyfcnit HKIOc 10,796,000 DBS Land 8,997,000 Wirxj Tai 25c 7,611,000 TACBtK) 200 5,435,000 Keppel Land50c 5,158,000 SinqTel 15c 4,899,000 STEnggKk 3,801,000 SPH 3,303,000 •M Resources 3,181,000 Stacks SPH 39,114,243 DBS Foreign 22,057,780 DBS Land 13,111,050 SinqTel 15c 11,850,005 OUB Foreign 10,610,980 OCBC Foreign 9,431,697
        218 words
      • Article, Illustration
        HOT STOCK
        70 22  -  by Shiv Taneja Malaysian Resources Corp closed unchanged yesterday at 42 cents on a volume of 3.18 million shares, compared with its 10-day traded average of 4.16 million shares. Although the daily RSI and Stochastics charts are oversold, and indicate there is upside in the short term, the
        70 words
      • Article, Illustration
        Talk of off-budget boost for properly sector propels rally
        648 22  -  STOCK KAUBT COMMENTARY Volume highest this week; dealers dismiss surge as speculative and say serious money is still not in the market By Wong Wei Kong [SINGAPORE] Local shares staged an afternoon rally yesterday to close higher for the first time
        648 words
      • ON THE GRAPEVINE
        • Article
          The R word
          214 22 RETRENCHMENT is understandably a taboo subject in many Singapore companies, what with the current economic slowdown. Our reporter called up a bank's public relations manager the other day to ask a simple question: In the event of a retrenchment, does the bank allow retrenched employees who took
          214 words
        • Article
          Cost of a stamp
          67 22 LOOKS like some local broking firms are really watching their costs in the current economic climate. One listed broking house has told its employees travelling on business to Kuala Lumpur to use the train instead of flying there. And to stretch the dollar further, it is
          67 words
        • Article
          Instant communication
          84 22 THE Telecommunication Authority of Singapore (TAS) is really taking the business of instant communication very seriously. Yesterday, it faxed invitations to journalists who covered the recent Apec telecoms ministerial meeting. Pleased with the "extensive media coverage", the TAS invited them to a thank-you function. The party was scheduled
          84 words
        • Article
          All the president's cooks
          150 22 A LOT of chickens and ducks are being slaughtered in China in honour of President Bill Clinton. The Portman Ritz-Carlton Hotel in Shanghai said it has ordered 8,000 eggs, 300 Peking ducks and 500 pounds of fruit to welcome Mr Clinton and his 1,000-member entourage when
          150 words
        • Article
          Creative indeed
          76 22 A NEW kid on the block—in helping to nurture the growth of classical music in Singapore—is Creative Technology. The sound card maker is one of the five new sponsors in this year's list of 17 corporate concert sponsors for the Singapore Symphony Orchestra. Creative is the only Singapore
          76 words
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      Page 14 Advertisements Column 1
      113 14 In adversity there is opportunity -for the enterprising 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 available at:
      113 words
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  • Page 18 Advertisements
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      Page 18 Advertisements Column 1
      61 18 abou^ SS we^re^N. the computer I Y ou this was a J making for Susan 1 I advertised in /lu^V gOC)d deal y Yu P» we B ot what »»going to be J Straits Times/T. 1 I we wantec because iW real nice! f offer^thf e BUViM SeB,M The Straits
      61 words
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  • Page 19 Advertisements
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      Page 20 Advertisements Column 1
      64 20 I'd like to place an A buyer I love this car V advertisement to a 1 the very I that I found sell my nextday. I through I —I a m V The Straits Times f-\ I n&g —7 Vroom r classified. > BuyingorscMnsthrough *Sf what', qH The Straits Times
      64 words
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  • Page 21 Advertisements
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      Page 21 Advertisements Column 1
      24 21 Sik, the '^^ni ■OY CASTIRN WATCH, LUCKY PLAZA, •01-t6/S7/t« ORCHARD ROAD TIL: 734 3139 DILUXI lASTIRN WATCH, CINTRIPOINT, •01-IR/20 ORCHARD ROAD TILi 235 2536
      24 words
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  • Page 22 Advertisements
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      Page 22 Advertisements Column 1
      599 22 TO ADVERTISE CALL TOLL-FREE 1800-741 1883 IN THE MATTER OF THE COMPANIES ACT, CAP. SO ANO IN THE MATTER OF QROWTRON INTERNATIONAL TRADING PTE LTD (la Members' Voluntary LlqaMaNan) At an Extraordinary General Meeting of the Company duly convened and held at 20 Maxwell Road #06-03 Singapore *****3 on 26
      599 words
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      Page 22 Advertisements Column 2
      99 22 Advertising in Turbulent Times Are you qettinq the REACiH, as promised? shipping times GUARANTEES "48,000 daily circulation! In Singapore, when you want to reach out to a select target audience in QS IffßHffßfflfflffHSßCTlffffßffl, only one daily offers you the advantage of maximum reach at minimum cost. And that's Shipping Times.
      99 words
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      Page 22 Advertisements Column 3
      78 22 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 toppingout ceremony. It's another chance
      78 words
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  • EXECUTIVE Lifestyle
    • Article, Illustration
      Lock icon You are about to land at Chek Lap Kok...
      1565 23  -  The opening of the new Hongkong International Airport, which boasts a passenger terminal of over 500,000 sq m, is just around the corner. But with falling tourist figures and a faltering Asian economy, is an airport of this size in danger
      JOHN NYE; PHOTO BY AIRPHOTOS INTERNATIONAL/ALL PHOTOS COURTESY OF FOSTER & PARTNERS  -  1,565 words
    • STRAWS In The Wind
      • Article
        Hush-hush approach
        102 23 IF ONE of the newer radio channels in town is hoping to blast ofT with a bang, it certainly silenced some of its newsmakers. The station, which features mostly news broadcasts interspersed with light jazz and fusion music for mature audiences, announced the return of Malaysia's former economic
        102 words
      • Article
        Rising menance
        46 23 THE VIAGRA jokes continue. One circulating on the Internet warns about a new computer virus called Viagra virus. The symptoms? It turns the 3.5 floppy into a hard drive. And Singapore is likely to catch it, since it's famous for its "floppy" drive industry.
        46 words
      • Article
        Total nourishment
        85 23 MILK is milk, but one company in Little India has just invited newspaper staff to a milk tasting session at its premises. The reason? The company is selling goat's milk, and it is so afraid of people turning their noses up at the product that it has issued
        85 words
    • VIEWPOINT
      • Article
        I am woman, hear me squeak...
        668 24  -  Off the Cliff f, What is it with women? Having spent years fighting for equality at work, many are now saying they prefer a male boss. So much for all that banging on the boardroom door by Jaime Ee JUST a while ago, there
        668 words
      • Article, Illustration
        Lock icon The Web's whiz kid takes a breather
        1176 24  -  Alex Zhoglin is going diving. After selling his cutting-edge consulting company Neoglyphics Media Corp for a hefty USs7sm, he can well afford to take things easy. But retirement is definitely not on the cards, he tells raju lfnßf f 11 RAJU CHELLAM HE'S
        CHRIS LOH  -  1,176 words
      • Article, Illustration
        Lock icon Well equipped for further expansion
        771 24  -  HongGn&n's winning strategy has been to build up its own technological capabilities by forming alliances with foreign MNCs By< Audrey Tan SOFT-SPOKEN and bespectacled James Teo seems more like an accountant than the head of an equipment-making firm. But ask the founder and managing director
        PHOTO BY CHRIS LOH  -  771 words
    • MOTORING
      • Article, Illustration
        Lock icon The displacement killers
        1160 25  -  Make a big statement with a small car. Christopher tax takes the measure of the mighty midgets CHRISTOPHER TAN SMALL CARS don't quite do it for anybody,do they? Manufacturers have successfully souped up their plain puny engines, stacked them with gadgets, jazzed up their boxy utilitarian shapes,
        CHRIS LOH  -  1,160 words
    • Article, Illustration
      What it could have been
      577 26  -  CINEMA 1 morie like SUding Doom isn't going to change your life, bnt it's enjoyable enough if yov're into cnte romances By\ Susan Tsag EVER wonder if your life would have turned out differently if only one little incident had tipped some delicately-poised cosmic balance?
      577 words
    • Article, Illustration
      Vivid portrait of a president
      737 26  -  CINEMA Ton don't need to knew much about the American political system to appreciate the sharp script and fine acting in Primary Colours. What's more, yoall also get some good laughs out of it By Susan Tsag PRIMARY COLOURS may be about a political process
      737 words
    • Article
      A success story to write home about
      622 27  -  PROFILE In just three years, Irish playwright Conor McPherson has reached literary heights that remain beyond the reach of more seasoned scribes By\ Mark Egan A FEW short years ago, Conor McPherson was selling shoes in a Dublin street market, but these days
      622 words
    • Article, Illustration
      WHAT'S ON
      387 27  -  Compiled by M Yasotha FESTIVAL OF ARTS '08 St Petersburg Philharmonic Orchestra The group will perform well-known symphonic works by Tchaikovsky, Rachmaniribv and Dvorak. Also hear Russian pianist Bella Davidovich perform Schumann's poetic Piano Concerto and Rachmaninov's virtuosic Rhapsody On A Theme Of Paganini, while Singapore-born Seow Yit
      387 words
    • EPICURE
      • Article, Illustration
        All set for a budget meal
        1042 28  -  tax su yen selects the best set meals in town TAN SU YEN IT'S A SIGN of the times. Entertainment budgets are being slashed, restaurants are closing and set meals, a throwback to the Seventies, are back in vogue. Now that it is no
        1,042 words
      • Article, Illustration
        Lock icon These photos look good enough to eat
        142 28 CRAVINGS FEAST YOUR eyes on these delectable images at Eat See Food, an exhibition of Australian food photography that's on until July 19 at Parco Bugis Junction. The exhibition, which coincides with the Singapore Food Festival, shows off quirky new angles, unexpected juxtapositions
        LYNETTE ZEENG; JANINE EASTGATE; JOHN STREET  -  142 words
      • Article
        Knock, knock!
        138 28 TALK ABOUT assertive consumers. At Shang Palace in Shangri-La Hotel, some diners were apparently so annoyed by noise from the hotel's renovations that they demanded their money back after the meal. Were they successful? No one's telling. But the hotel has assured diners that it is coordinating renovation
        138 words
      • Article, Illustration
        Durian dreams
        140 28 END YOUR dimsum lunch on a durian high at the Szechuan Court in The Westin Plaza. Now that the durian season is upon us, Chef Alfie Hoh has created two durian desserts to tempt diners. There are fluffy egg-white puffs with durian, similar to red bean puffs common
        140 words
      • Article, Illustration
        Handover highlight
        211 28  -  Compiled by Tan Su Yen IT'S BEEN a year since Hongkong returned to China, and Chef Chan Chen Hei of Cantonese restaurant Hai Tien Lo at The Pan Pacific Hotel Singapore has created a special menu to mark the first anniversary of the handover. The menu, which will
        211 words
    • Article, Illustration
      CINEMA
      764 29 Aberration. Scare-fest starring mutant beasts, Pamela Gidley, Simon Bossell and Valery Nikolaev. Previewing at Lido, Choa Chu Kang, Jurong, Changi, Century. Anastaaia. Animated feature about a girl who may just be the last of the Romanovs. Choa Chu Kang, Jurong, Hougang, Century, Eastpoint, Central, Toa Payoh, Orchard, Yishun, Bishan,
      764 words
    • Article
      ENQUIRIES AND BOOKINGS
      123 29 Cathay Org Cathay 338-3400 Eastshore 346-1816 Orchard 235-8386 Picturehouse 338-3400 Yangte 223-7529 Eng Wah Empress 777-5867 JutXiee 454-1640 Mandarin 292-9401 Marina 338-9719 Whitesands 585-1782 Qoldan Villags Bedok 443-2405 Bishan 353-8885 Boon Lay 792-2788 Broadway 454-9394 Majestic 533-9032 Marina 337-9488 Pavilion 786-5788 Tampines 8 786-5788 Tiong Bahru 274-6588
      123 words
    • TRAVEL
      • Article, Illustration
        Lock icon Palaces and pilgrims
        947 30  -  Live like a maharajah in Samode before mingling with the devout in Pushkar. In Rajasthan, mark graham encounters both asceticism and excess MARK GRAHAM WHERE in the world can you ride around in a chauffeured car, stay in a turreted castle, dine like a king, drink the
        PHOTOS BY MARK GRAHAM TOR BT  -  947 words
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      24 26 I Such a market -for choice jobs, J J i j Any job. any Career. Available any Day. Any Time. Anywhere. Singapore Press Holdings
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      37 26 BUY<* SELL* FIND*; Classified ads put home-seekers on solid ground. No matter what it is, you can always buy it, sell it or find it with the Classified. TOlt fill 1800-737-1166 [cSj (oil Today For Results Tomorrow.
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      189 27 Where to wine, dine and entertain... t (g|aa Featuring New Zealand Rock Oysters, Rock Crabs, Green Mussels, Crayfish and Tiger Prawns on Ice, cooking-on-the-spot of Sauteed Sliced Emu Meat in Black Pepper Sauce, Japanese Sashimi and many more. $22.50 (Adult) $16.50 (Child) Ring 299 9011/298 0011 for reservations. Lunch daily
      189 words
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      Page 27 Advertisements Column 2
      64 27 alt *A J# Now at THE HEEREN in Orchard «U jj j yiut/ientic D/iai Cu/srne ';f y the Business Times readers J Just present this ad viJk j during lunch to enjoy 20% discount from the H a-la-carte menu JB (p* Is ffCT Vldid tiU 31 Juh' 1998 For reservation,
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      Page 27 Advertisements Column 3
      34 27 K M r Tel: 430 4119 (Skylight Cafe Lounge Live Entertainment by "bLACKJACK<S" Monday to Thursday 8.00 pm to 11.45 pm Friday to 6aturday 8.30 pea to 115 am /3 Sfe 4 J »--*.■>»■ WO—BUM
      34 words
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      Page 27 Advertisements Column 4
      63 27 All you can Eat A-LA-CARTE ft Buffet* (min 2 persons) Adult: $16.80++ per person Child: $10.80++ per person Only available on Public Holidays. Plf Saturday Sunday from: 117 11.30 am 3.00pm. 'Promotion not jfjplicMe on 21 lune "98. an I Clementi Garden Seafood Restaurant Wt{- 93A. Ocmcnti Road. ClemenD Woods.
      63 words
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      Page 27 Advertisements Column 5
      90 27 Savour cuisine with mM Sous Chef jflflKL Manfred Grossman at Revolving Restaurant. Reservations Si Mandarin yj Singaporr 333 Orchard Road, Singapore *****7 Tel *****11 15 June 31 July 25% off buffet lunch dinner Daily "Bargains of the Day" with 50% off selected local and western favourites Savour local delights like
      90 words
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      220 28 Bin-End Sale To clear space for arrivals of new wines, we are holding a one-day sale of bin ends. Wines such as ST. HALLETT OLD BLOCK SHIRAZ, CHATEAU POUJEAUX, CAPARZO BRUNELLO Dl MONTALCINO, CHATEAU LEOVILLE BARTON and GERMAN EISWEIN will be marked down to clear. A selection will also be
      220 words
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  • Page 29 Miscellaneous
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      Page 29 Miscellaneous Column 1
      2235 29 TODAY'S TV 4 ma 1 House of the Ris RECOMMENDED VIEWING Premiere M ing Sun 9.00 AM Soccer: World Cup 12.25 AM Saturday Chinese S American Chile, despite the deadly E »r Cinema Ghost's 1 j Striking partnership Of 11.00 Soccer: World Cup 98 2.0s Chinese Top 20 CountSIIOWaOWII IvanZamoranoand
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