The Business Times, 14 July 1998

Total Pages: 44
1 44 The Business Times
  • 13 1 THE BUSINESS TIMES MITA(P) 111V12/97 85c SINGAPORE Internet: http://www.asial.com.sg/biztimes TUESDAY, JULY 14, 1998
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  • 70 1 □sra MS3Jf (-37.16) BT-SRI ***** (-7.79) BTOOMP ***** (-16.18) BTMGA ***** (-10.72) H MARKET MOOD: Mixed STOCK MARKET INDICES Monday Change KLSECOMP 421 Jl -731 NIKKH 16,360.39 +270.33 HANG SENG 8,***** -106.67 SET INDEX 266.78 -751 JAKARTA COMP —489.67 Ml MANILA COMP 1,776.86 26.36 TAIPEI WP1 *****3 *7.63
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  • 76 1 FOBEX BATES USS SI US$ 1.729 £(US$/S$ per 1.636 1828 DM 1.811 0.954 YEN 1415 1113* RM 4150 0.407 HKS 7.750 0.223 BAHT 41.80 0.041 RUPIAH 15,075 0.011* St to 100 units PBIME BATES SINGAPORE* 7.88 KUALA LUMPUR 11.50 JAKARTA .28.00 BANGKOK 14.75 MANILA 22.90 HONGKONG 10.25 taipei aw
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  • 965 1  -  Bat there's some rebound as investors reckon successor will be more decisive Frorm 141 TV*// Anthony Rowley, Ven Sreenivasan in Singapore FOR weeks Asian financial markets had been looking to Tokyo for direction and when faced with yesterday's announcement that Prime Minister Ryutaro Hashimoto
    Source:  -  965 words
  • 764 1  -  Banks to get fresh capital; corporate debt restructuring Prom. Eddie Toh in Kuala Lumpur MALAYSIA'S economy will contract by as much as 2 per cent this year, its first recession in 13 years. Deputy Prime Minister Anwar Ibrahim said yesterday. Mr
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  • 875 1  -  Former chief cabinet secretary Kajiyama is top contender From, Anthony Rowley in Tokyo JAPANESE Prime Minister Ryutaro Hashimoto's decision to resign following the shock defeat of his ruling Liberal Democratic Party in weekend elections has left behind no obvious successor and raises questions about
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  • 790 1  -  By] Ronnie Lim [SINGAPORE] After 15 months of gruelling negotiations, Singapore and Indonesia have finalised a gas sales deal worth a total US$7-8 billion (5512.1-5513.8 billion), covering supply of Indonesian gas to power stations and the oil/petrochemical complexes on Jurong Island.
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    • 122 1 onapg |B w cs' VH French taut France destroys the myth of Brazil 98, writes Shahiron Sahari, Pgl4 Km\ T7 f{ i J H J What the heQ happened? Chris Matyszczyk laments the defeat of the former champions, Pgl4 Unexpected reaction Will cutting employers' Central Provident Fund (CPF) contributions help
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    • 74 1 End of Hashimoto, Pg 13 BT PROPERTY SUPPLEMEMI Pick your way around the battered property market, with BT's property supplement in hand. We cover what you need to know before making that commitment from a comparison of interest rates and loans to how best to let or sell your property.
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    • 138 1 Japanese businesses want strong PM, Pg 11 y**+3&* Now you can have more time to do what you really want. Only OUB Credit Cards give you the longest interest-free repayment period of up to 58 days. And the lowest monthly repayment of a mere 3% of your outstanding balance or
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  • SINGAPORE AT HOME & ABROAD
    • 423 2  -  Most economists feel costs of such a move will outweigh benefits this time By, Andrey Tan CUTTING employers' Central Provident Fund (CPF) contributions will help the economy only if the government takes steps to offset the negative effects, economists said yesterday.
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    • 524 2  -  By( Clarissa Tan COST savings that the local banks would enjoy from a cut In employers' contribution to the Central Provident Fund (CPF) would probably not make up for losses arising from increasing loan defaults or a fall in loans growth,
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    • 247 2 SINGAPORE Press Holdings and Singapore Telecom have settled a defamation suit with SPH paying *50,001 in damages and part of SingTel's legal costs. The suit was over a snippet in The Straits Times on Feb 7, headlined "Exposing Sing Tel on the Internet",
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    • 191 2 HONGKONG tycoon Li Hashing is believed to have sold about 40 units of his Thomson 800 condominium project, which was launched last Friday to a private group of viewers. Mr Li's Singapore company Property Enterprises Development also said in a
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    • 404 2  -  By, Jenny Lam THE worsening economic conditions in the region have claimed two more retail victims homegrown Chomel and Flyers which are calling it quits in Singapore and Malaysia. Founded and owned by Kuok Cheng Sui, wife of Kuok
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    • 369 2  -  US navy men in town conld spend $6m over next 10 days By] David Boey THE USS Abraham Lincoln sailed into town yesterday morning with 5,500 sailors and airmen on board for a five-day port visit spelling a bonanza for beleaguered hoteliers and retailers
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    • 406 2  -  Move comes after meeting with major retailers By Carol Eng THE Trade Development Board the newly-appointed lead agency in charge of the retail industry will not only look at long-term measures to boost the sector, but, on appeals from the industry, also short-term
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    • 312 2  -  EYE OH THE ECONOMY Prices By Andrey Tan MOST goods have become more expensive from a year ago, but overall wholesale prices are still down, thanks to the slump in world oil prices. Latest figures from the Department of Statistics (DOS) show that the domestic
      Source: Dept ot Statutes  -  312 words
    • 230 2 SAVINGS in the Central Provident Fund rose to $79.7 billion last year, up 9.8 per cent from $72.6 bUlion in 1996. according to the CPF Board's 1997 annual report. Members' contributions for the year came to $15.9 billion while their
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  • Page 3 Advertisements
    • 142 3 Having even more global resources makes us even more personal. Union Bank of Switzerland and Auckland, Bangkok, Beijing, Swiss Bank Corporation have joined Hong Kong, Jakarta, Kuala Lumpur, to form a bank with assets under Manila, Melbourne, Mumbai, Osaka, management of more than US$l trillion, Seoul, Shanghai, Singapore, Sydney, ranking
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  • FOCUS: PROPERTY
    • 656 4  -  THE PROPERTY COLUMN With the threat of mortgage defaults, a CPF cut would not be govt's most obvious choice KU Lee Han Shih THIRTEEN years and a full business cycle later, there is again talk of cutting the Central Provident Eund contribution rates. But
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    • 713 4 Property auctions coming up THURSDAY, JULY 23 (1.30pm) Grand Plaza Parkroyal, Ballroom II Residential: 23 Kampong Sireh 3 1/2-sty semi-D, 3,717 sq ft/FH" 28 How Sun Walk: 3-sty terrace, 2,174 sq ft/99 yrs wef 1993** 22E Lor How Sun: 2-sty terrace, 2,458 sq ft/FH* 79 Jin Kasau:
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    • 529 4  -  Liquidity crnnch will lead to more sales to foreign investors, says Bovis exec V-P By Toh Han Shih [SINGAPORE] The Asian crisis could eventually reverse the historical pattern of property ownership in Asia, with foreigners replacing locals as owners of many big projects,
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    • 567 5  -  LETTERS TO THE EDITOR Walter W C Low PROPERTY developers are suffering. But their demise is not going to make anybody less miserable. They are not criminals. We need them around. Architects, engineers, conveyancing lawyers, contractors, suppliers, labourers, foreign workers, sales people, agents..
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    • 962 5  -  C S Ong I WRITE in reply to Lee Ka Shao's letter (BT July 9) titled "Developers can't expect a free lunch". First, let me state that this letter is not for or against REITs (real estate investment trusts) or developers and I am not
      FILE PHOTO  -  962 words
  • Page 4 Advertisements
    • 361 4 1 PRIME BUNGALOW SITE i AT BELMONT ROAQfcwB Good Class Bungalow Area •Freehold Land area: 47,630 sq ft (Approx) Provisional permission for 3 h >«>r bungalows obtained hI"JSSy C A) Close to schools and amenities Excellent accessibility yys Tender Closes: 7 31 July '98 (Fri) at 4.00pm For investment report
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    • 37 4 NAMLY VIEW 2 Architectural Miracles Open House Today ew By Appointment PACIFIC GREEN PROPERTIES »3» Ql3« The Straits Times Classified/Tang tin Mall iliihfc Tanglin Mall, every third Saturday of y X the month, spm 11pm !cata| o
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    • 48 4 Make mountains out of molehills. With so many fine educational and upgrading opportunities in The Straits Times Classified daily, it's no wonder our readers are inspired to scale the heights of knowledge. Advertise in the Education/ Training section (Classifications 703 to 794). Call C.A.T.S. at 1800-737-1166. ft I
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  • Page 5 Advertisements
    • 129 5 We provide consultancy services on offshore structures, shelf companies and incorporations in ALL jurisdictions including British Virgin Islands Mauritius Cayman Islands Hongkong Bahamas Samoa Full nominee, management, corporate secretarial and professional administration services are available. We specialize in offshore trusts, offshore banks, and captive insurance companies for qualified applicants. For
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  • ASIA'S ECONOMIC SLUMP
    • 294 6 AFP [TOKYO) Central bankers from more than 30 countries gave Japan a reassuring pat and a nudge to put its economy on a recovery path at the Bank for International Settlements (BIS) monthly meeting here yesterday. US Federal Reserve chairman Alan Greenspan and the president
      AFP  -  294 words
    • 588 6 Recent difficulties raise concern over link but analysts don't see peg going AFP [BANDAR SERI BEGAWAN) Brunei and Singapore are unlikely to sever their 31-year-old currency peg despite recent difficulties that have put both units at a disadvantage because of the link,
      AFP  -  588 words
    • 265 6  -  From Al Labita in Manila THE Philippines and Malaysia have agreed on a pioneering bilateral payment scheme to trim US dollar flows between the two countries. Central Bank governor Gabriel Singson said yesterday that the scheme, the first between Asean partners, was signed
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    • 394 6  -  Also marginally more positive about Asia Pacific: poll From. Neil Behrmann i n London US and UK fund managers have turned buyers of Japanese equities and are marginally more positive about the Asian Pacific region, according to the latest monthly fund manager
      394 words
    • 437 6  -  Economy suffering as consumers cut back in uncertain times Front Jennifer Veale in Seoul SIX months into South Korea's economic crisis, its much-vaunted middle-class is disintegrating, posing more problems for the already be leaguered economy. With no end in sight to a deepening recession,
      AFP  -  437 words
    • 166 6 AFP [JAKARTA] Indonesia's economy will contract by between 10 per cent and 15 per cent this year, said Finance and Economy Minister Ginandjar Kartasasmita yesterday. "On the macro targets, we now expect that output will fall by 10-15 per cent in 1998," Mr Ginandjar said
      AFP  -  166 words
    • 369 6 Stable Asia is in best interest of China, says deputy governor AFP [BEIJINGJ China will resist pressure on the national currency. the deputy governor of the central bank vowed yesterday, saying it was in China's interest to keep the yuan strong and Asian
      AFP  -  369 words
    • 403 6  -  It predicts -2% shrinking for S'pore, M 'sia this year By' Vikram Khanna [SINGAPORE] There is a chance that the severity of Asia's economic downturn will be "unprecedented in the region's modern history", according to the latest quarterly survey of Asian economies by
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  • SOUTH EAST ASIA
    • 480 7  -  But LDP's shock defeat, IMF loan delay weigh on stocks, rupiah From\ Shoeb Kagda in Jakarta THE election of Akbar Tanjung as the new chairman of the ruling Golkar party seen as a triumph for the reformist movement received the thumbs
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    • 415 7  -  Asean information ministers' meet Reports by Harish Mehta in Bangkok FORCED by the economic crisis to tighten its belt, Asean has put on the back burner an ambitious US$5O million (SsB6 million) plan to start a full-fledged satellite TV channel to serve as its
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    • 251 7 ASEAN must work together to develop a collective voice in the world, or else as individual countries the grouping was likely to be drowned out by louder voices, Singapore's Minister for Information and the Arts, BG George Yeo said yesterday. "As
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    • 274 7 JAKARTA Two say they can't work with some on the central board AFP THREE newly-appointed executives of Indonesia's ruling Golkar party have resigned, with two of them saying they could not work with some members of the central board, press reports said
      AFP  -  274 words
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  • Page 9 Advertisements
    • 79 9 Now meet the proud ItfsWsim AJ| IV II H9 vj •^?F' J aT t?^"1 jKL __^^^^MBfcM^BB^^BI^^BBI^BBBBHI^^B^^^MMSS^BBBBiHB^@wII^HBBiHMBMjjiWH|BKteWB»HBBSfI United Technologies is a $25 billion corporation that provides a broad range of high-technology products and support services to customers in the aerospace, building and automotive industries worldwide. United Technologies' best-known products include Pratt
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  • CHINA-HONGKONG-TAIWAN
    • 362 10 HONGKONG Bat it dismisses as ludicrous reports that only two clients joined in past month; no figures given Bloomberg WHARF Cable Ltd, the cable service arm of Wharf (Holdings) Ltd, yesterday denied reports it had only added two subscribers in the past month, but
      Bloomberg  -  362 words
    • 74 10 [BEIJING] Chinese visitors putting their ears against the Echo Wall at the Temple of Heaven to listen to their friends' whispers yesterday. The circular Echo Wall, measuring 65 metres in diameter, enables a whisper to travel clearly from one end to the other. The Temple of Heaven was
      REUTERS  -  74 words
    • 125 10 HONGKONG AFP HONGKONG legislators will discuss the thorny issue of speeding up democratic reform in a session tomorrowafternoon, just two weeks after returning to office, a statement said yesterday. Legislators will debate whether all 60 members of the Legislative Council should be returned
      AFP  -  125 words
    • 319 10 TAIPEI She will attend seminar on science and technology pyrhangAg Reuters CHINA is expected to send its first minister to Taiwan in 49 years for a visit seen as a result of gradual warming of relations between the communist mainland and the
      Reuters  -  319 words
    • 373 10 TAIPEI AFP FRANCE has offered to sell Taiwan torpedoes and build warships for the nationalist navy, a newspaper report said yesterday. French military officers made concrete proposals to sell F-17 torpedoes and SANRAL surface-to-air missiles at a military meeting here two weeks
      AFP  -  373 words
  • Page 10 Advertisements
    • 225 10 Now, you can work from anywhere without a mobile phone or modem card. J^tr' wl^WEr m %fc ftfli Introducing the Ericsson GC2S Data Card Phone. It s the 2~in~l solution for the ultimate mobile office. Phone. Fax. E-mail. Connect to local networks. Surf the Internet. All from your laptop, wherever
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  • ASIA
    • 565 11 Aftermath of LDP election debacle Corporate leaders urge LDP not to delay action to revive economy AFP Bloomberg [TOKYO] Japanese business leaders yesterday said the country needed a strong leader after the resignation of Prime Minister Ryutaro Hashimoto to pull the
      AFP; Bloomberg  -  565 words
    • 157 11 NEWDELHI AFP INDIA yesterday said global sanctions following its May nuclear tests were slowly being toned down because the outside world wanted to trade with the country. Industry Minister Sikander Bakht told parliament: The severity of the economic sanctions is gradually waning everybody's eyes
      AFP  -  157 words
    • 264 11 ■TOKYO AFP [TOKYO] Japan's Prime Minister Ryutaro Hashimoto yesterday cancelled planned visits to the United States and France this month following his resignation. "I cannot go when it is known that I am resigning," the premier told a news conference at which he said
      AFP  -  264 words
    • 322 11 NEWDELHI Corruption affecting system; radical and deep reforms needed AFP INDIA'S corruption-ridden and inefficient legal system has lost all credibility, the No 2 in the ruling Hindu nation-alist-led government was quoted as saying yesterday. The Times of India quoted Home Minister Lai
      AFP  -  322 words
    • 330 11 SYDNEY AFP AUSTRALIAN Prime Minister John Howard denied yesterday that the shock defeat of his government's Telstra privatisation plans would influence the timing of the upcoming election. He claimed the government was undaunted by the senate's refusal at the weekend to approve the
      AFP  -  330 words
  • Page 11 Advertisements
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  • THE WORLD
    • 512 12 MOSCOW IMF-led package secured in exchange for austerity drive; Russian stocks rally Bloomberg AFP RUSSIA will receive a total of U5522.6 billion <Ss39 billion) in financing led by the International Monetary Fund in 1998 and 1999 to bolster central bank reserves and support the
      Bloomberg; AFP  -  512 words
    • 284 12 LONDON Bloomberg THE UK will announce today its plans for dividing up its annual public spending budget of more than £341 billion (*****.5 billion) for the next three years, with the largest increases in spending aimed at health and education. Chancellor of the
      Bloomberg  -  284 words
    • 235 12 ABIDJAN Reuters US Treasury Secretary Robert Rubin urged help for reformist African states yesterday and said countries on the world's poorest continent should look at the lessons learned in Asia's financial crisis. Mr Rubin, on a five-nation tour which began on Saturday, told
      Reuters  -  235 words
    • 373 12 PARIS Bargains sought in Asian countries most affected by crisis AFP DIRECT investment by, or in, countries belonging to the OECD rose to a record figure in 1997 despite, and partly because of, the crisis in Asia, the OECD reported yesterday. Overall investment
      AFP  -  373 words
    • 344 12 LONDON FUND managers have grown increasingly fearful that Britain's economy will slip into recession next year and have adjusted their investment plans to reflect that risk, according to a poll published yesterday by Merrill Lynch. And confidence among British businessmen hit its
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    • WORLDWatch
      • 51 12 Reuters [MOSCOW] Russian President Boris Yeltsin and Cypriot President Glafcos Clerides yesterday confirmed that a controversial deal to supply the divided island with Russian S-300 anti-aircraft missiles would go ahead as planned. Turkey has warned it might use force to block deployment of the missiles.
        Reuters  -  51 words
      • 63 12 Reuters [LONDON] The British government yesterday said it believed that Northern Ireland's peace process was still intact despite a week of tension and violence. A spokesman said designated first minister David Trimble and his deputy Seamus Mallon had shown "real leadership" in trying to
        Reuters  -  63 words
      • 90 12 AFP [JERUSALEM] Prime Minister Benjamin Netanyahu and top ministers were to meet yesterday to debate a US proposal for an Israeli withdrawal from the West Bank. Time magazine reported yesterday that the US may pull out of talks over his refusal to accept Washington's proposal
        AFP  -  90 words
      • 32 12 Reuters [BONN] Germany's Free Democratic Party (FDP), junior partner in Chancellor Helmut Kohl's government said a hacker had broken into its computer system and caused considerable damage.—Reuters
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  • EDITORIAL & OPINION
    • 686 13  -  BorroMUNE OPINION By Andrey Tan The writer is a BT reporter PRIME Minister Goh Chok Tong's warning that Singapore may face a recession next year shouldn't have come as a surprise, given the worsening regional and domestic developments of the last few months.
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    • 181 13 4 As the Bob Dylan song goes, 'When you don't have nothing, you've got nothing left to lose'.' Mac Overton a fund manager with MBfAsia Capital Ltd. which manages about US$25O million (SS43O million), as the region's sinking economy has caused corruption to rise in Hongkong by
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    • 601 13 EDITORIAL WHEN Ryutaro Hashimoto assumed the post of Japanese prime minister two-and-a-half years ago, he seemed likely to become a colossus compared with his socialist predecessor Tomiichi Murayama. Instead, his relatively brief reign proved to be disruptive and divisive. However, his departure opens up new prospects
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    • 1108 13  -  Staging of World Cup reflects the dynamic economic thinking that is emerging in the country By Eric Teo The writer is business development director for Groupe Suez Lyonnaise desEaux FRENCH Prime Minister Lionel Jospin broke new ground during his visit to the United States last month.
      AFP  -  1,108 words
    • 869 13 Chek Lap Kok pilgrimage IS it some masochistic pleasure or some other deeply psychological trait that attracted droves of Hongkong people to the new airport, which is still going through unfortunate birth pangs? On Sunday, hundreds some estimates put it at thousands of sightseers made their
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  • Page 13 Miscellaneous

  • WORLD CUP 98
    • 1123 14  -  The defeat of the former champions is staggering, writes emus mattszcztk CHRIS MATYSZCZYK The writer is a creative director based in Warsaw IT was like watching Buster Douglas floor Mike Tyson. And Evander Holyfield. It was like watching Little Red Riding Hood take a
      AFP; REUTERS  -  1,123 words
    • 806 14 Recriminations fly as Brazil suffers its worst World Cap defeat LAT-WP HE was ready to be anointed, having long ago been appointed heir to Pele as God's Great Gift To Soccer, Brazil, Nike and Pirelli Tires. The last necessary accessory, the World Cup trophy, was
      LAT-WP; AFP  -  806 words
    • 879 14  -  A solid unit with just enough brilliance in the right areas bested an inept one By I Shahiron Sahari WHEN last year's French champion Monaco knocked out Manchester United in the European Cup quarter-finals earlier this year, its club president proclaimed that "we have
      REUTERS  -  879 words

  • Page 15 Advertisements
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  • Page 15 Miscellaneous
    • 707 15 TVAi RADIO premiere 12 5 30 Extreme Dinosaurs. 5.35 Maison Ikkoku. «on dmtim 6.00 NewssToday Followed :CO (w 'WBBBBMM—— i?*? 9 ™T\ Innovations. By Wheel of Fortune. Prime 12 4.00 Kidz Blitz: Space q.30 The Pyramid Game. 9.00 AMCDIS. vjoois. 7,00 News 5At Seven. 10.00 Close. 500 Ji 7,30 v^°
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    • 308 15 CRYPTIC CROSSWORD ACROSS j2g]u IB I 1 Chases after red dogs (11) y 9Go with Uobtail in some way another, he's indispensable 10 Throe might be a suitable number (5) H| EH BBj Bt SB 11 Loophole for a retail shop (6) 12 Pursuing to have notes about the speech
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  • EXECUTIVE LIFESTYLE
    • 803 16  -  The territory's gorgeous landscapes spur artist to paint them, says parvathx narayam PARVATHI NARAYAM IN his exhibition Hunter of the Wilderness, artist Chua Ek Kay paints impressions of Australian landscapes as they might have looked in the past the mountains and water
      803 words
    • 376 16  -  Ven Sreenivasan [SINGAPORE] The membership prices for social and recreational clubs seem to be following the downward path set by golf club memberships, judging by the advertised prices in June. While the falls were not as drastic in absolute dollar terms as those
      Compiled by BT  -  376 words
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  • COMPANIES & MARKETS
    • 632 17  -  Profit compares with $4J>m loss in same period a year ago By, Jennifer Lien [SINGAPORE] Suspended CAM International Holdings yesterday posted a turnaround for the half year to March 1998, with a $302,000 net profit compared with a $4.5 million net loss
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    • 464 17  -  From. Ruth Wong m Kuala Lumpur THE Kuala Lumpur Options Financial Futures Exchange (Kloffe) yesterday slammed the Singapore International Monetary Exchange (Simex) for planning to launch a Malaysian stock index futures contract. "Kloffe's position is very clear. We interpret the moves by Simex, to
      464 words
    • 236 17  -  By\ Siow Li Sen [SINGAPORE] Fruit and vegetable distributor FHTK Holdings yesterday blamed its poor performance for the 12 months ended March 31, 1998, on the Asian economic crisis. Late last month, the company reported dramatic losses of $352,000, against a $10.7 million profit
      236 words
    • 633 17  -  HOCK LOCK SIEW Al Labita ANDRES Soriano Ill's recent ouster as the top honcho of San Miguel Corp (SMC) didn't come as a surprise. He had it coming. Two key factors conspired against the Wharton-educated, 47-year-old Mr Soriano. First, SMC's profitability
      633 words
    • 143 17 (SINGAPORE] Theme park and leisure group Alliance Technology and Development (ATD) yesterday said its reverse takeover of a Vancou-ver-listed firm is off. The group signed a conditional sale and purchase agreement in January with Creative Entertainment Technologies (CET) to swap its Underwater World
      143 words
    • 422 17  -  Several deals already struck with multinational firms fty Carol Eng [SINGAPORE] Singapore Airlines started selling tickets direct to companies one and a-half months ago, becoming probably the first carrier here to bypass the traditional travel agent, and save on commission costs. Several
      422 words
    • REGIONAL COMPANIES
      • 480 18 They're now attractively priced relative to perceived risks: Marc Faber SCMP [HONGKONG] "Dr Doom" Marc Faber the pessimists' pessimist of market forecasting has turned bullish on Asian stocks, describing them as "the buy of the century". In his latest release
        SCMP; FILE PHOTO  -  480 words
      • 394 18 Sale proceeds of 23b pesos enongh to retire half its debt Bloomberg [MANILA] San Miguel Corp said it sold its entire stake in Coca-Cola Beverages pic, giving the Philippines' largest food and drinks company about 23 billion pesos (***** million), enough to
        Bloomberg  -  394 words
      • 324 18  -  It becomes first Asian regional title owned by DKH group Byy Catherine Ong [SINGAPORE] Georgetown Holdings Bhd, a company listed on the Kuala Lumpur Stock Exchange (KLSE), has bought Asia Inc, a regional business magazine, for US$l.O6 million (Ssl.B million). The subsidiary of
        324 words
      • 318 18  -  From Eddie Toh in Kuala Lumpur BERJAYA Land, the property arm of tycoon Vincent Tan's Berjaya Group, has sold more shares in its cash cow, Berjaya Sports Toto, to reduce its borrowings. Berjaya Land yesterday said it sold 50 million shares or 8.74
        318 words
      • 148 18 Bloomberg [KUALA LUMPUR] Bescorp Industries Bhd, a Malaysian building materials supplier, said it and some of its subsidiaries had defaulted on loans and interest payments totalling 130 million Malaysian ringgit (5552.7 million). Bescorp said it missed the payments because of a "lack of cashflow" and the
        Bloomberg  -  148 words
      • 470 18  -  Village Roadshow's court injunction overturned From Loh Hui Yin in Hongkong FILM producer Golden Harvest has won the latest round of its court battle to proceed with a HK$56 million (5512.5 million) share placement to three tycoons. A court injunction obtained
        470 words
      • COMPANYBriefs
        • 61 18 Bernama [KUALA LUMPUR] Edaran Otomobil Nasional Berhad (EON), the national car distributor, yesterday clarified that it is not involved in a failed loan scheme by Capital Equity Associates Bhd which offered Proton cars through investments in CEAB shares. It said Proton cars marketed
          Bernama  -  61 words
        • 105 18 AFX-Asia [HONGKONG] The liquidator of Hoi Sing Construction, Nelson Wheeler Corporate Reconstruction and Insolvency, said it has filed a writ against FTC Corp Ltd claiming HKJ297.4 million (Ss66 million). Nelson Wheeler said the sum was owed to Hoi Sing Construction by a former ITC
          AFX-Asia  -  105 words
        • 46 18 Reuters [PHNOM PENH] Siemens AG will open an office in Phnom Penh to explore opportunities in various fields including communications, energy, health care, transport and household appliances. "We see tremendous business opportunities in Cambodia," Cambodia representative Wolfgang Kitz said. Reuters
          Reuters  -  46 words
        • 64 18 Bloomberg [JAKARTA] PT Bank Danamon, which was taken over by the government earlier this year, posted a 1.48 trillion rupiah loss (Ssl67 million) in the first quarter as interest income shrivelled. A year ago, it posted a profit of 50.8 billion rupiah. Loss per
          Bloomberg  -  64 words
    • COMPANIES
      • 402 19 That's more than twice May estimate as chip prices drop Bloomberg [HSINCHU, Taiwan] Vanguard International Semiconductor Corp. one-third owned by Taiwan Semiconductor Manufacturing Co, warned it is likely to report a loss of NT$4.7 billion (***** million) this year what analysts said was one
        Bloomberg  -  402 words
      • 224 19 AFP [FRANKFURT] German industrial giant Daimler-Benz has no plans to acquire a stake in Japanese truck maker Nissan Diesel, a report in Boer sen-Zeitung quoted Mer-cedes-Benz Japan president Rainer Jahn as saying. The two companies are currently holding talks on technical cooperation only
        AFP  -  224 words
      • 416 19 AFP Bloomberg [SEOUL) South Korea's government decided yesterday to seek a capital increase of one trillion won (Ssl.3 billion) for Kia Motors Corp before the ailing firm is sold off. reports said. Kia will be turned over to a bidder
        AFP; Bloomberg  -  416 words
      • 395 19 First-half sales of Cherokee-brand cars fall by 53% Bloomberg [BEIJING] Chrysler Corp said its sole carmaking venture in China lost money for the first time in the first half of the year, as slower economic growth battered sales. Shanghai's Business News reported that Chrysler's
        Bloomberg; FILE PHOTO  -  395 words
      • 167 19 Reuters [LONDON) US car giant Ford Motor Co said yesterday it had agreed in principle to buy the Cosworth Racing engine division of Cosworth Engineering from Audi AG, the upmarket car subsidiary of Volkswagen AG. Audi itself reached full agreement on Sunday to
        Reuters  -  167 words
    • INTERNATIONAL COMPANIES
      • 115 20 Bloomberg [FRANKFURT] Deutsche Lufthansa AG, Germany's dominant airline, said yesterday that it will pay 100 million Deutschemarks (5594.3 million) to employees in profitsharing and special bonuses after it posted a record pretax profit in 1997. Employees in Germany and abroad will receive a onetime payment
        Bloomberg  -  115 words
      • 368 20 Netscape's market share falls 8.9% to 52.2%; Microsoft's rise 9.6% to 45.6% Reuters [PALO ALTO, California] Netscape Communications is still the leader in the Internet browser business, but No 2, Microsoft, is now very close on its heels, reports show. A
        Reuters  -  368 words
      • 310 20 Service providers ordered to reveal subscribers' names FT [TORONTO] Individuals who make defamatory remarks on the Internet may become more vulnerable to legal action following a Canadian court ruling that forces several Internet service providers to reveal the identities of subscribers
        FT  -  310 words
      • 306 20 27 are American companies, including 7 among the top 10 Reuters [NEW YORK] General Electric Co is the world's most powerful company, according to Forbes magazine's ranking of the world's 50 most competitive corporations. The No 1 spot in the Forbes
        Reuters  -  306 words
      • 310 20 Bloomberg [LONDON] Shares in CocaCola Beverages pic, the world's fourth largest CocaCola bottler, rose as much as 16 per cent on their first day of trading on the London Stock Exchange yesterday. Shares rose as much as 25 pence to 185p
        Bloomberg  -  310 words
    • FINANCE & COMMODITIES
      • 425 22  -  Watson Wyatt and Towers Perrin also among independent consultants By\ Shiv Taneja [SINGAPORE] Investment and actuarial consultant William M Mercer has been appointed by the CPF Board as an independent investment consultant as part of its review in May which lifted virtually all investment
        425 words
      • 172 22 Bloomberg [SYDNEY] Commonwealth Bank of Australia said it bought a 7.6 per cent stake in regional lender Bank of Queensland Ltd. The Sydney-based bank, Australia's largest mortgage lender, said it bought the 4.4 million shares on July 9. "I would have thought they'd go
        Bloomberg  -  172 words
      • 278 22 Bloomberg [TOKYO] The Financial Supervisory Agency (FSA), Japan's new watchdog organisation, said it began promised inspections of the country's 19 nationwide banks by starting its audit of Long-Term Credit Bank (LTCB) of Japan Ltd yesterday morning. Those inspections were ordered by the agency
        Bloomberg  -  278 words
      • 181 22 Bridge News [TAIPEI] Union Bank of Switzerland, expected to play a major role in the Malaysian government's tranche of Malaysian ringgit bonds overseas, has refused to comment on local media reports Taipei may be an important market for the bond,
        Bridge News  -  181 words
      • 203 22 Reuters [SYDNEY] Bank and insurance mega-mergers creating one-stop financial services supermarkets must become more selective to bring real value for shareholders, senior executives say. "Companies that make size a strategic goal in its own right make a grave mistake," Jan Holsboer, a
        Reuters  -  203 words
      • 247 22 SOSEXEeport Reuters [SINGAPORE) Simex Japanese government bond (JGB) futures slipped yesterday but Euroyen futures recovered from early lows after Japanese Prime Minister Ryutaro Hashimoto said he was resigning as head of the ruling Liberal Democratic Party (LDP) and as prime minster. Party secretary-general Koichi Kato
        Reuters  -  247 words
      • 182 22  -  MSGI TAIWAN FUTURES Cecilia Loh Cecilia Loh, service dealer, Refco Singapore THE Simex MSCI Taiwan Index futures took its plunge for three consecutive days, edging down 67.63 points. Taiwan Semiconductor Manufacturing Co and other computer-related companies led the 67.63 point decline in the Taiwan
        182 words
      • 209 22 ENERGY REPORT Bloomberg [NEW YORK] Crude oil sagged amid speculation that cuts in output from the Organisation of Petroleum Exporting Countries and other producers will take several months to eat into a global surplus. Kuwait's Oil Minister, Sheikh Saud Nasser Al-Sa-bah, said he doesn't
        Bloomberg  -  209 words
      • 281 22 AFX-Asia AFP London THE dollar turned sharply lower in afternoon trade yesterday, after a strong recovery in Nikkei stocks triggered a yen rally, dealers said. They said the yen was benefiting from a growing view that the resignation of Prime Minister Ryutaro Hashimoto could now pave the way
        AFX-Asia; AFP  -  281 words
      • Article, Illustration
        1292 22 DfTERBAMK CROSS RATES j u ii3 A$ CS Rurt ECU Ffr Pw H*$ tad »s Npiah Yew Wow Bl MZ$Miis S$ Band Sfr »T$ W Pvmi US$ Australia 0.899 6.178 0.556 3.687 1.100 4.707 25.862 ***** 0.866 7.976 2.582 1.190 28.283 25.604 1.050 3.830 0.930 20.948 25.391 0.371 0.607 Canada
        1,292 words
    • 1872 23 SICOMrPTURES RUBBER (futures closing »s it 5.30pm) RSS1 CONTRACTS cents/kg) Close Volume Op«n Month High Low Sett (tonnes) Interest Au« 98 J23.25 290 Sep 98 124.50 340 Oct 98 125.75 M50 Nov 98 127.25 1450 Dec 98 128.75 1450 Jan/Mar 99 132.25 1800 Apr/Jun 99 136.50 1950 Jul/Sep
      1,872 words
    • 2367 23 LONDON j —»—i-i-ifMUSinais M13 P»<K« 31 Group 591.000 -8.000 AB Ports 324.000 -1.000 AbOey National 1073.670 35.130 Allied Domecq 542.000 -7.000 Amec 169.000 -2.000 Asda Croup 205.000 -1.600 BAT Ind 660.000 20.600 BC Pic 368.000 1.000 BtCC 130.000 4.000 BOC Croup 852.400 7.400 BR Petroleum 850.000 -11.400
      2,367 words
    • 1648 23 Bloomberg Nikkei 225 +27(133 JAPANESE stocks rose for the first time in three days as Prime Minister Ryutaro Hashimoto's resignation prompted investor optimism that the government may take new steps to cut taxes and clean up the banking system. Top banks, automakers and retailers, all of which could benefit
      Bloomberg  -  1,648 words
    • Article, Illustration
      1471 24 Bloomberg J Hang Seng -***** HONGKONG'S benchmark Hang Seng Index fell 1.3 per cent to a one-month low amid concern the resignation of Japanese Prime Minister Ryutaro Hashimoto will delay efforts to bolster Asia's largest economy. Wharf (Holdings) and other property-related companies paced the decline, sending the Hang Seng
      Bloomberg  -  1,471 words
    • Article, Illustration
      677 24 Reuters QShenzhenßlndex -Ll4 SHENZHEN'S hard currency B shares slumped to new lows yesterday, as a sagging Japanese yen pounded regional stock markets. The B Share Index closed at a new low for the year while the Shanghai market indicator touched an all-time low before recovering slightly. Eoreign currency markets
      Reuters; Source: Credit Lyonnais Securities (Asia) Ltd  -  677 words
    • 365 24 AFP □wp Index -67.63 TAIWAN share prices closed 0.8 per cent lower yesterday following the election humiliation of Japanese Prime Minister Ryutaro Hashimoto's ruling party, dealers said. The Taiwan Stock Exchange Weighted Price Index lost 67.63 points to 7,815.53, following a 0.8 per cent decline previously. The New Taiwan
      AFP  -  365 words
    • 258 24 AFP CI Wellington -26 NEW Zealand stocks closed down 1.3 per cent yesterday following Japanese ruling party's election debacle. The NZSE-40 Index was down 26 points to 2,040.14 on modest turnover of NZ$B3 million. Brierley Investments was steady at 97 cents, while Carter Holt Harvey slid 10 cents to
      AFP  -  258 words
    • Article, Illustration
      783 24 AFP Q SETlndex -7JH THAI shares lost 2.7 per cent at the close yesterday, dogged by concerns about the pace of economic reforms in Japan and the health of local financial institutions, analysts said. Analysts said the market crumbled as Japanese Prime Minister Ryutaro Hashimoto announced his resignation, raising
      AFP  -  783 words
    • 427 24 AFP Q Composite Index -3.6 SOUTH Korean shares fell 1.2 per cent yesterday on negative reaction to threats of labour strikes and the volatile yen, dealers said. The Korea Stock Exchange Index closed down 3.6 points at 301.37, off a low of 299.68. The benchmark corporate bond yield was
      AFP  -  427 words
    • 594 24 AFP Q All Ordinaries -29.3 AUSTRALIAN share prices fell one per cent yesterday in a day of choppy trade. The All Ordinaries Index dropped 29.3 points to 2,718.6. National turnover totalled 214.44 million shares worth A 5823.43 million with falling stocks outnumbering advancers 644 to 323. The All Resources
      AFP  -  594 words
    • Article, Illustration
      726 24 AFP n Composite Index -3JH JAKARTA shares closed 0.8 per cent lower yesterday on regional weakness following news of Japanese Prime Minister Ryutaro Hashimoto's resignation, dealers said. "The losses were mainly due to Japan. We've had our correction on the back of that like all the other Asian stock
      AFP  -  726 words
    • 306 24 AFP n Manila -2&36 PHILIPPINE share prices closed 1.4 per cent down yesterday over concerns that the resignation of Prime Minister Ryutaro Hashimoto could hamper efforts to revive the Japanese economy. The Philippine Stock Exchange Composite Index fell 26.36 points to 1,775.85. Turnover was thin at 163 million shares
      AFP  -  306 words
    • KUALA LUMPUR STOCK MARKET
      • 430 25 AFP C 3 Composite Index -7.31 MALAYSIAN share prices closed 1.7 percent lower yesterday with Finance Minister Anwar Ibrahim's prediction of a recession weighing heavily on sentiment, dealers said. "Investors are sharp. They are aware that the economy will see increasing numbers of corporate
        AFP  -  430 words
      • 8701 25 INDUSTRIALS Consumer products <998 Last Vol Day Not Cap M* Low Company *0*0 "OOP High Law P/t $mN 310 180 Ajinomoto 190 -10 1 190 190 10.5 77.0 148 45 Angkasa 45 -3 50 48 45 1.0 66.4 290 123 Apollo Food Hlg 145 4.2 58.0 388 190 Berjaya Land
        8,701 words
    • WARRANTS & OPTIONS
      • 199 26  -  WARRANT WATCH By Ven Sreenivasan WITH some 90 per cent of the warrants being out of the money, there is every likelihood that many of these instruments will not be exercised before expiry. However, some of these instruments are not very far out of the
        199 words
      • 3356 26 BONOS, LOANS WARRANTS Mtoh" 9 *!c. LMt Vo < Day Last Ouote Avg n LOW StM Company Sal, ♦or- COOO) Htqh Low Buyor S.n.r Price 23 5 9 m 3000 "1AMOB c5.5H0202I6 _„l 10 9 fl 20-5 5 3160 -Acor ******1USS 5 5 6 95 8 5 3'64 Acma W*****4
        3,356 words
    • 2236 26 Transaction date Jul 13 I MALAYSIAN STOCKS Gr Or Lart V* Day Last Ouott Mv Dtv VM Net M Cap High Urn Stno Company Sa* COOP) High Lo» Buyr X C'vr H P/E jmtl ~«5~ 28 msSOOO AISBSOc 38.5 Ti 63 40 36.5 38 38.5 5.0 3.3 2.6
      2,236 words
    • 6481 27 Transaction date: Jul 13 I Cf Gr M Wt 1998 Last Vol Day Last Ouot* Dtv OI« VM N.t Cap Avg L— stw» Csmpwy (at* fOOO) High Law •wyar Sa«*r Cw PAt $mu Prtc« MDUSTRIALS 43 13 e 1020 ACE Dynamics20c... 14 13 14.5
      6,481 words
    • 1209 27 Cf Cf M Wt 1998 LMt VI D*V Last Quota DW Mv YM Nat Cap Av« M>» L— $tw» Ciwuny *t* COOP) HN» t— Barm «—»r Of PR. f* Prtw 134 SO 2000 ABB Hldqs 5c 80 79.5 39.0 79 243 64 a 2049 AS Auto 10c 65 -2
      1,209 words
    • STOCK EXCHANGE OF SINGAPORE
      • 195 28 Stocks VolMM DBS Land 5,759.000 *M8f Capital 5,474,000 STEngqWc 5,315,000 •M Resources 4,850,000 Fill 4,726,000 008 Foreign 4,111,000 'RekapacifK Bb 4.086,000 008 Foreiqn 4,030,000 •Pub Bk Foreign 3,510,000 Stogie* 15c 3.134,000 Stocks SPH 32.575,010 FM 21,814.802 1)08 Foreign 21,624,743 0C8C Foreign 17,300,399 008 Foreign 14,595,954 City Dev 50c 12,288,467 DBS
        195 words
      • Article, Illustration
        64 28  -  -by Shiv Taneja JURONG Engineering closed two cents higher yesterday at $106 on a volume of 1.51 million shares, compared with its 10-day traded average of 19,400 shares. The counter is trading just off its two-and-a-half-year low, and there is strong buy signal on the daily and weekly
        64 words
      • 586 28  -  STOCK MARKET COMMENTARY Sentiment also weighed down by M'sian corporate failures; dealers see some technical support for broader market By Ven Sreenivasan SINGAPORE stocks tumbled as regional currencies came under another round of selling following the shock defeat of Japanese Prime Minister Ryutaro
        586 words
      • ON THE GRAPEVINE
        • 96 28 IN what surely must be a first for Singapore's unit trust industry, three fund management firms all of which are either launching, or have recently launched, unit trusts with a European theme are going to be speaking tomorrow night at a Standard Chartered Bank-organised investment seminar. The
          96 words
        • 158 28 THE World Cup action at the Hilton Hotel here didn't stop after France trounced Brazil 3-0. Things, in fact, looked like they were hotting up just after sam when a group of 50 or so French supporters took their celebrations to the street, almost forgetting this is Singapore
          158 words
        • 135 28 PENNSYLVANIA House, the American country furniture store, came up with a World Cup gimmick that appeared to have pulled in the crowd and helped clear its stock. By 11pm on Sunday night, the store. which occupied two floors at Tanglin Mall, was already packed with
          135 words
        • 146 28 AMERICAN Express Global Shopping Monitor asked 1,900 travellers from 13 countries about their upcoming vacation plans. The responses highlighted some interesting quirks. For examples: Indians showed the greatest enthusiasm for visiting a theme park (according to an Indian colleague in the newsroom, this is because a theme park
          146 words
        • 66 28 SEVERAL firms in Malaysia have totted up what the millennium bug will cost them. Malayan Banking Berhad, the largest bank in the country, will spend 60 million Malaysian ringgit (5524.3 million) to solve the headache. It is followed by national carrier Malaysian Airline System's RM48.6 million plan to
          66 words
  • Page 17 Advertisements
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  • Page 18 Advertisements
    • 501 18 POKKAZTt Pokka Corporation I \wr (Singapore) Limited NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Twenty First Annual General Meeting of the Company will be held at 39 Quality Road, Singapore *****0 on 29 July 1998 at 10.00 a.m. for the following purposes: AS ORDINARY BUSINESS 1.
      501 words
    • 72 18 Coca-Cola, unit gains up to 16% on UK debut, Pg 20 RENAULT EURODRIVE A French Revolution in Motoring Tax-free Car Leasing in Europe at rates to drive you wild Brand new cars 23 models 33 centres across Europe No hidden extras Minimum hire 17 days for information brochures reservations HEADLINE
      72 words

  • Page 19 Advertisements
    • 258 19 1 1 1 BUSINESS NotfCeS To advertise call toll-free 1800-741 IXB3 NOTICE IS HEREBY GIVEN that, I Ng Chin Hin of 5 Dover Crescent #12-06 Singapore *****5, have applied for a Beer House 2nd Class Licence in respect of M/s Pantech Canteen Pte Ltd located at 198 Pandan Loop #01-01
      258 words
    • 180 19 NOTICE IS HEREBY GIVEN that, I Wong Lan Oi of Blk 406 Clementi Ave I #08-82 Singapore *****6, have applied for a Ist Class, Public House Licence in respect of M/s TE Quiero Pte Ltd located at No: 2/2 A Lorong Mambong Singapore *****1, and that this application will be
      180 words
    • 170 19 T We're Changing the World. the ■■HmRiA. and lighter. USlML:$g,flOO t jt LIMfTED PCWOO ONLY KG- NV2EA 700 ANSI lumen brightness for brilliant presentations even in lighted rooms Full SVGA (832-dot x 624-line high resolution images), VGA and Mac (*****")-compatible for direct computer connectivity XGA (1024-dot x 768-line high resolution
      170 words

  • Page 20 Advertisements
    • 49 20 OUR WAYS UPS has dedicated aircraft. OUR MEANS UPS has self-handling rights. OUR COMMITMENT UPS delivers. WITH UPS, YOU CAN REST ASSURED THAT IT'S BUSINESS AS USUAL IN HONG KONG. up| As sure as taking it there yourself. ISO 9002 Certified For more information, please call 1800-738 3388. W
      49 words
    • 7 20 HThe Straits Times Classified Classifications 402-568 L"
      7 words

  • Page 21 Advertisements
    • 51 21 What Cargo to Hong Kong? How? Our new airport facilities in Hong Kong ensure that we can unload your shipments straight from our own planes and deliver to your recipients overnight, :f, or your money back? Call FedEx today at 1800-*****26. FecOsx. *Some restrictions may apply. Federal Express T A
      51 words

  • Page 22 Advertisements
    • 543 22 -iza METALOCK (SINGAPORE) LIMITED (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE ,s HEREBY GIVEN that the Twenty-Ninth Annual General Meeting of the Company will be held at Orchid Room, Level 2, River View Hotel, 382 Havelock Road, Singapore *****9 on Tuesday 4 August 1998 at
      543 words
    • 3 22 s k PTr^nHiß^M
      3 words


  • Page 24 Advertisements
    • 63 24 Hello? I'm calling about\ mso a PPy I your advertisement in great...just like found my pet through The Straits Times Classified... 1 I the ad J tra ts Times Classified. 1 you still have the puppy... J described. \l m going to take real good^f Jr c J I nj
      63 words

  • Page 25 Advertisements
    • 20 25 >*« •:;< T--4S SOwrPT"*? v vy>»«», .u».n" y<>, Ms9'. jp^a Making smart education choices begins with The Straits Times i Classified. j
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  • Page 26 Advertisements
    • 33 26 Citibank Margin Trading Account. Trade in the Widest List of Marginable Securities. Call 339-7126 Now. THE CITI NEVER SLEEPS Branches at I Shenlon Way 268 Orchard Road 21 Jurong East St 13 www.citibank.com.sg
      33 words

  • Page 27 Advertisements
    • 78 27 T#K*fwr«ya P«pt Sro'« Ttf: 735 4029: ?35 2<*7. la««an Oren«f<S T#t 735 0553 SwM«< City Ma« T«. 336 6225 M* MB MB Mmm AUTHORISED f>F AIERS B®i y Raffl«s City DPS Stonw lvtar> Stngaexjre iCo Smaapore Daimsru Mk Jm!Zi.*tf2l&i* Ch*i"*»o« Sho« Co •C "IV-fl L*r-*»d J«t Pt« Ltr Mohar"*<J Mustafa
      78 words

  • Page 28 Advertisements
    • 609 28 BUSINESS METALOCK (SINGAPORE) LIMITED (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN THAT an Extraordinary General Meeting will be held at Orchid Room, Level 2, River View Hotel, 382 Havelock Road, Singapore *****9 on 4 August 1998 at 10.15 a.m. (or as soon
      609 words
    • 459 28 la the nana uf Ok Compuun Aa. Cq> SO NOTICE OF RESOLUTION SINASIA TECHNOLOGIES PTE LTD (la CiedMon' Vatmur, Winda At an Extraonknary General Meeting of the above Company duty convened and held at its Reported Office at 40 Changi South Street I. Changi South Industrial Estate, Singapore *****4 on
      459 words
    • 374 28 M THE MATTER OF THE COMPANIES ACT. CAP.SO AND IN THE MATTER OF CALIFORNIA FRIED CHICKEN INTERNATIONAL CORPORATION PTE LTD (M MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE IS HEREBY Given pursuant to Section 306 ot the Companies Act. Cap. 50 that the final Meeting ot the member ot
      374 words
    • 498 28 j i—mmmm— Invitation for Bids Date: 29 June 1998 IFBNo:MT/S VILL/98 1. The Government of Maldives, represented by Ministry of Tourism, has announced the development of Villingili in Addu Atoll, initially with 500 beds, with the option for further expansion after the resort has been in operation 2. The Ministry
      498 words
    • 228 28 M THE MATTER OF THE COMPANIES ACT, CAP.SO AND IN THE MATTER OF D.M.T. TRADING (S) PTE LTD (M MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE IS HEREBY Given pursuant to Section 308 of the Compares Act, Cap. SO that the Final Meeting o» the member of the abovenamed
      228 words

  • SHIPPING TIMES
    • 330 29 Bridge News THERE was talk of firmer rates on the key US Gulf/Japan grain run for the early position, but brokers remained tentative in prediction for the duration of this current firmer market. Capesizes have been fixed, but details were kept under wraps with rates remaining very weak.
      Bridge News  -  330 words
    • 285 29 SES '000 M m CWT Distribution 0.39 -0 02 5 Chuan Hup 0.36 unch 28 Cosce Investment 0.50 FrtigMUnk, 0.1* -0.005 140 GB Holdings 0.20 HtiSwiHup Qja unch 122 Hitachi Zosen 0.505 -0.005 173 IMC Holdings __HK 5.60 Jaya Holdings 0.37 -0.015 2 Jurong Shipyard 7.50 -0.20 190
      285 words
    • 486 29  -  Evergreen has ordered five boxships from Mitsubishi for a reported USs29om By'. Marcus Hand [SINGAPORE] Container shipping giant Evergreen has ordered five post-panamax boxships for a reported US$29O million (*****.3 million), as there are signs that lines are cashing in on
      FILE PHOTO  -  486 words
    • 255 29 Weak regional currencies making imports dearer Bloomberg [TOKYO] Mitsui OSK Lines Ltd and Kawasaki Kisen Kaisha Ltd, Japan's second and third largest shipping companies, transported fewer containers to Asia this year as weakened Asian currencies made imports more expensive, said company spokesmen.
      Bloomberg  -  255 words
    • 312 29 Reuters [KUALA LUMPUR] Malaysia's plan to compel local exporters to use the country's largest port instead of rival Singapore does not run counter to free trade. Transport Minister Ling Liong Sik was quoted yesterday as saying. "We are
      Reuters  -  312 words
    • 119 29 Reuters [ATHENS] Greek shipowner Costas Agapitos was shot by unknown assailants as he was driving his car in the port of Piraeus late on Sunday and was recovering in hospital, police said. They said two assailants riding a motorcycle approached his car from the passenger's side and
      Reuters  -  119 words
    • 232 29  -  By\ Felix Chan [SINGAPORE! Scholarships were handed out to a total of 48 students by the Maritime and Port Authority of Singapore (MPA) and PSA Corp under their respective scholarship programmes. The MPA awarded three scholarships yesterday: two were for maritime studies at the
      232 words
    • 970 30 ISM CODE Greek ship managers tell how they implemented the code and plan to keep staff motivated to maintain it Lloyd's Register THE July l, 1998 deadline for compliance with the International Safety Management Code (ISM Code) for passenger ships, bulk carriers, tankers, gas carriers
      Lloyd's Register  -  970 words
    • 254 30 PAGE Danveron 4 ACL 9 Of* Lloyd 9 ani 3 Dongnama 3 Accord 8 ECL 5 Appenship 5 Eurohans 6 Astro 3 Evergreen 6 Austral 9 Foong Sun 8 BSA 7 G Batamindo 7 Gemartrans 8 Bayswater 6 Genshpg 9 Btang Mas 8
      254 words
    • 25349 38 THEBUSINESSTIMES THEBUSINESSTIMES EXPORT ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone SIN Dest'n Name Nairn Number Number SIN Destn Name Name Number Number If/07 06/08 Hyundai MM NOL AMBER 303W 65-*****44 A 19/07 06/08 Saferoute NOL AMBER 303* 65-*****22 inin iaki zap it 21/07
      25,349 words
    • SHIPS IN PORT
      • 767 43 Vassal Voy Mo Btrth Arrival Dtpartura Asian Banner 1 *J09 alongside 17.07/2300 BatuiKin 014 J10 alongside 13 07/0900 Sown 166-HW J 08 alongside 1407/0330 It Citradaya *****8 J01 alongside 15 07/1200 Bt Hertma JUlYfl J01 alongside 13 07/1900 4t Suriati 4 *****8 J01 alongside 13 07/2300 Bt Sury
        767 words
      • 1888 43 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Booking/Btltnce ftstls Ship Voy No Etb/Btr Ptrlod From To From Aci »JW« 0121 15/0100 U 13/1500 13/1459 U/1900 IB 13/1500 13/1659 13/1900 2A 13/1700 14/0*59 14/0900 21 13/1700 14/0459 14/0900 3 14/0700 14/1159 14/1400 Mmm* I 1202* 16/0700 IA 13/1500
        1,888 words
      • 187 43 Jul 14. France: National Day. Jul 15. Brunei: HM The Sultan's Birthday. Jul 17. South Korea: Constitution Day. Jul 20. Japan: Marine Day. Jul 21 Belgium: Independence Day. Aug L Switzerland: National Day. Aug 3. Ireland Republic Of: August Holiday. Aug 10 Singapore: National Day Holiday. South Africa:
        187 words
      • 1029 43 THIS report. compiled by Cocke it Marine Oil Ltd. shows price ranges m L'S dollars instead of single prices for a more comprehensive description of the market Prices shown are based on average sued stem Market movements are indicated The Cockett Bunker Price Index change and
        1,029 words
      • 505 43 Carbon 180 Mai 994.5 0.9 T7.1 0.10 84 0.07 Jul 9 Density Water Residue Ash Aluminium Sediment No above E25 4 0 10 0 1 0 380 Ave 986.7 0.3 16.5 0.07 26 0.03 Via. 380 Max 992.8 0.9 19.0 0 !1 58 0.07 KS/W3 *>
        505 words
    • AIR LAND TRANSPORT NEWS
      • 350 44 Ombudsman's probe is the second official investigation into the ongoing chaos AFP [HONGKONG] Hongkong's ombudsman has begun an independent inquiry into the chaos surrounding the opening of the territory's new international airport, government radio reported yesterday. The news came as Hongkong resumed efforts
        AFP; REUTERS  -  350 words
      • 55 44 [HANOI] This Belarus-manufactured Minsk motorbike is the cheapest of new motorbikes in Vietnam, and retails at around US$6OO (551,035). Motorbikes are seen as status symbols in Vietnam with the Minsk at the bottom, ranking just above the lowly bicycle, while the highly desired U552,300 lOOcc
        REUTERS  -  55 words
      • 240 44 Reuters [HANOI] Vietnam's national flag carrier has seen passenger growth stall during the region's economic crisis, a Vietnam Airlines official said. Some 1.257 million passengers and 13,000 tonnes of cargo were carried in the first six months, the official said. Comparable figures for the
        Reuters  -  240 words
      • 486 44 Head of SME body warns that many may face huge losses AFP [HONGKONG] The disastrous opening of Hongkong's new US$2O billion dollar (5534.5 billion) airport and the chaos at the terminal's cargo hub could bankrupt a string of companies in the territory, business
        AFP  -  486 words
      • 237 44 Inflation clause in sales contracts also strengthened Bloomberg [SEATTLE] Boeing Co, the world's biggest aircraft maker, said it boosted the list prices of almost all its commercial jetliners 5 per cent on July 1, the first increase in 23 years. The
        Bloomberg  -  237 words
      • 430 44 NYT [FLINT, Michigan] Frustrated by deadlocked talks to end a crippling strike at two car parts factories here, the chief negotiator for General Motors announced late on Sunday afternoon that he would return to his office in Detroit, while the top
        NYT  -  430 words
      • 171 44 Reuters [LONDON] British Airways pic is looking at making a bid for regional airline City Flyer Express, the Sunday Telegraph newspaper reported. The paper said such a purchase would be aimed at recouping some of the take-off and landing slots it is
        Reuters  -  171 words
      • 309 44 Reuters [TOKYO] Ford Motor Co, which is mulling a boost in its stake in South Korea's troubled Kia Motors, said yesterday a government plan to sell the carmaker should take into account the support Kia has received from foreign firms. "I think that
        Reuters  -  309 words
      • 1828 44 an FUtHT ETA fllCMT ETP Of 06 1845 LH779 2359 AMaMt M7381 1930 M7382 2055 S***** 2359 Of81 1930 Of82 2055 frtaoU $0909 1710 S0990 QMS Guangzhou PRC S0603 1905 CZ354 0910 Amsttrdam NZ4327 0755 KL844 0040 C23S1 2045 &0604 1020 S0327 0755 KL838 2300 Hanoi
        1,828 words
  • Page 29 Advertisements
    • 21 29 How 2 firms face ISM code rfiaitongft Greek ship managers tell how they implemented it and will maintain it. Page 2
      21 words
    • 400 29 Stanley Lim has been appointed regional 7 director for Asia by ij Conterm International company H Conterm Group Based in Singapore Mr Lim will be responsible Mr lm Cf*. y.n, for the company's sales, r„r. o services snd KconQ, cur Goon Kok Loon 3nd L 6€ in from thp rently
      400 words
    • 105 29 Independent inquiry on new HK airport Ombudsman's probe is the second official investigation. Back Page T u BO R DE R LESS I I r I v /VVK /s making extraordinary advances in '"tjui' r shipping history with a fleet of some 400 ships -1— jraSS^l including contamerships, conventional vessels,
      105 words

  • Page 30 Advertisements
    • 798 30 HUM*. I OS x i I n Ar I IMPORT SUPER SHUTTLE EXPRESS "1 fl EXPRESS (OKX) HI 5 11 t ggg "I! s* vtssa «or ju mm mm ond kar cot pkg [sm OOaHOMIONG 2SWS27 00/07 26/07 HO HIDUOTD DAMMAM mT 01/07 03/07 OJ/07 05/07 10/07 14/07 U/07 19/07
      798 words
    • 718 30 Lines services represented JWK MIM ft Members o< the 2 C01 by Members the Re9 stry tTTsTI Singapore Freight Forwarders Accredited Shipping Agents WMMr Association Singapore Shipping Association ''••W CONTAINERS'CONVENTIONAL CARGO ACCEPTING ON DIRECT SAILING TO MALE ETA(SING) ETA(MALE) MA' Princess Lily V 0298 1&W/98 25/07/98 M/V Princess Lily V
      718 words

  • Page 31 Advertisements
    • 1075 31 I SAX SERVICE (DIRECT) I VISSfI VOY SWFtA lAX OAK DAI HOU 08 OX MB* Ml MTC jfyOgjjMM out 15/07~ 30/07 03/06 03/06 04/0« ~03/08 04/OT~ 08/04 05/01 05/04 AfIJAK mm 22/07 06/06 10/06 10/06 H/06 >0/06 11/06 11/06 12/06 H/01 APUjjggT OQ4E 26/07 13/06 17/06 17/06 16/06 17/06 16/06
      1,075 words
    • 2096 31 (3) HANJIN SHIPPING HANJIN SHIFTING (S) PTE LTD hnp //m hoq* com BOOKING *****35 237 SAIfS *****24 238 DOCUMENT *****71 274 OfHATIOKS *****41 252 MAIN UK *****55 FAX 222*60 aNO ********** M TO NW USA A CANADA USA CANADA* M vsi/vor mm w umhalr/voy STI nw mm pox loi I
      2,096 words
    • 464 31 VESSEL VOY_ SIN PKG VOY Sjjl HKG KEL USN PUS Tvorpß^PK6Tffi!^^^^o^p^^^ KMTC HONGKONG 004S 02/00 04/00 804N 05/05 01/00 11/00 13/00 14/00 ||frs| ffij}? KMTC KEELUNG SPSS 05/07 07/07 OOSN 00/07 12/07 14/07 16/07 17/07 KMTC KEELUNG QMS 1 ?t/D7 I 7R>O7 IItMTC ULSAN IIOS 124/071 26/07 HYUNDAI SPtINTEI 001S
      464 words

  • Page 32 Advertisements
    • 1557 32 DSR-SENATOR LINES TO UK/CONTINENT TO RED SEA/MEDITERRANEAN/CANADA VESSEL VOY SIN UH RTM AWH HAM BHV FLX VESSEL VOV SIN JtD GIT SPt EOS VIC MTR TRAOEHMVEST WOB3l 10 07 31 07 01 OS 30 07 31 07 02 00 JAPAN SENATOR WMS3I 11 07 22 07 20 07 30 07
      1,557 words
    • 1386 32 MY LINE Internet Web Site http: //www yml com.tw if, *Abik f*. <1 i/ T 1* T i g-:: n ifi r; h.; g-:: lillN.ViJUfMli'JJili'MUJA'JMl arrival fixed day Tuesday VESSEL VOY LEH FXT HAM ANR HFA SIM GIBRALTAR BR AB2IE SLD SLD SLD SLD SLD 14/07 MING GLORY AB22E SLD
      1,386 words
    • 440 32 |a.!JESSELTON LINE ST TIL: *****56 FAX: *****12 MUARA LABUAN VISSCL VOT fTD ETA VKSB VOT ETD ETA SPOKE MUARA SPOBE LIN i. PSOSPtt VlSt/W 14/07 17/07 J- PROSPtR VIM/W 14/07 U/07 APRHGIORY VIK/M 11/07 21/07 APRRGIORY VIK/W 11/07 22/07 APwaanr vi*/« 26/oz w/07 a«igu*y vm/w 26/07 »/07 LPROSPB Vl*/* 01/01
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  • Page 33 Advertisements
    • 1568 33 VESSEL VOY SIN PQU PKO PEN BLW SUR DUB SHJ BA BIK IRAN QHEYAMAT PJL 1292 09/07 18/07 19/07 21/07 IRAN MATIN PJL 1297 18/07 27/07 IRAN HESABI PJL 1304 28/07 05/08 08/08 08/08 IRAN TAKHTI PJL 1300 07/08 17/08 17/08 18/08 IRAN TEYFOURI PJL 1302 21/08 27/08 27/08 28/08
      1,568 words
    • 2668 33 ALL-WATER DIRECT TO 1 NEW YORK IN 28 DAYS I I SINGAPORE'S GENERAL AGENTS: 6 SHENTON WAY TEL 226 1900 FAX: *****0S OUTWARD (l/l) *****02 JOHORE OFFICE: COSTAR SHIPPING PTE LTD #i/-o« ots bidg sales/bkgs 4205M1/43 inward dept (d/ 0) *****85 COSTAR AGENCIES (M) SDN BHD CRNO: **********0 M TOWER
      2,668 words

  • Page 34 Advertisements
    • 1304 34 EUROPEAJK/SCANDINAVIA/FINLAND/fIUSSIA SGP ROM ANW HBG THP ZEE LHV LMV THP RDM ANW HBG PKL SGP E DAINTY RW-006 19/07 07/04 12/08 08/08 10/08 11/08 12/08 E REFINE RE-016 21/06 23/06 22/06 24/06 26/06 IM7 19/07 E. RESULT RW-020 24/07 12/06 17/06 13/00 15/08 16/W E REACH RE-019 29/06 27/07 30/06
      1,304 words
    • 696 34 am MAC-NELS S'PDRE M'SIA I Carrier: MN CONTR LINES, INC P. GUDANG: (07) *****26 I I J mx 1200S7SOOOOC SIBU: (084) *****9 MANILA: (632) *****24 PENANG: (04) *****36 BANGKOK: (662) *****57 SURABAYA: (31) *****0 P. KELANG: (03) *****77 JKT: (21) *****07 MON: (61) *****3 KUCHtNG (082) *****1-3 ROTTERPAM/FEUXSTONE HAIPHONG MV
      696 words
    • 420 34 I^ l|sm> NANTAI LINE FULLY CONTAINERISED SERVICE TO MAURITIUS SOUTH AFRICA VESSEI VOY I SIW I PUi I PUR I CPT I V/uT NANTAI DRACOR VOO7S 15/07 25/07 29/07 03/06 NANTAI PRINCE VO73S 26/07 09/01 14/08 MAWTAI VENUS VO2K 03/08 12/06 16/08 21/06 2S/M GOLDEH DRAGON Y.QO6S 11/08 21/08 25/08
      420 words

  • Page 35 Advertisements
    • 456 35 _BSA^ M MYANMA pBBk FIVE STAR LINE (Myanmor Notional Line) v Loading for Yaagon (Rangoon) VISSU VOY SM mi KN PGU MONG LA 15W SID SJTTWf lIW $U MALAYSIA AGENTS: BOUSTUD SHIffMG AGENCIES KUL TU (03)*****00 PKL TU (03)37*410) KM: TU (04) 24)2402 PGU: HI (07) *****21/4 BANK LINE (A
      456 words
    • 1187 35 HYUNDAI MERCHANT MARINE CO.,LTP. IVtSSfI. VOY SIN I SOU 1 ia I RTM I ANT I HAM I WV I FU I [Yissa VOTI SOU I IB« WM I AWT I MAW I —V I 1 SW MX AGAH 007W 13/07 29/02 30/07 01/01 04/00 NOICYPRM 0051 19/06 27/06 20/06
      1,187 words
    • 1157 35 Mm norwegon specialised oukxameri mm wmu\£s TO NORTH AND LATIN AMERICA HEAYYUFT SERVICE" j VESSEL VOY RAMP HEIGHT SIN LAX CRL MIA SAV BAL ORF NYC NEW MOO TOURCOING WIS 400Tms 6.3 M "WOT" 24/0# Op OS/09 07/09 09/09 T071)9 14/09 15/09 TAfWU FII6 400 Tom 6JM 15/08 10/09 19/09
      1,157 words

  • Page 36 Advertisements
    • 814 36 BANQKOK/LAIM CHABAWQ JAK A RT A/P ANJ A N Q VESSEL T VOY SIN BKK LCH VESSEL VOV SIN JKT PJN BAN! BHUM 106N In Pt 18/07~ ANRO JAYAKARTA* 047 ~ln Pt 16/07 CHANA BHUM" 26N In Pt 17/07 THANA BHUM 295S 15/07 18/07 NANTA BHUM** 402N 15/07 18/07 19/07
      814 words
    • 507 36 BINTANG MAS SHIPPING PTE. LTD. 39 NEIL ROAD, SINGAPORE 0206 TEL: *****68 FAX: *****64 TLX: R*****5 SINMER Ml M CR No **********0W Receiving Cargo at PTI Bintulu I Muani i V|SSfl VOY SIN uy m«L VOY WN MUA BSera V ***** 25-26/07 31/0/ MM. V9812E H-H/07 24/07 B Sana WISE
      507 words
    • 632 36 A /ICCORD A SHIPPING PTE LTD TEL 5665 lIS (40 Lines) PAX *****30 KXTUJUK (OS) SO7 1001 B WL DIRECT ACCESS TEL S667SSS (EXPORT BOOKING) PAS* OUOAMO (07) SSI 11/7 *****34 (EXPORT DOC), *****39 (IMPORT) fENANG (04) *****40 ORLsHTTP://WWWJkCCORD.COM.SG WUJtli (il) 040 0770 SAA/ POT ITA $IN PORT ETA SIN
      632 words

  • Page 37 Advertisements
    • 422 37 INDONESIANATIONA^N^I TO EUROPE "H EXPRESS SEMI-CONTAINERISED SERVICE V»L VOY I A OAM/B DAM H BUBG MtMEM ANTWERP VESSEL LjSdSj 20/10 25/10 SSTT 05/11 TO AUSTRALIA FULL CONTAINER SERVICE VSL VOT ■STST FHE BWE STD MEL IHX ADC PRE AUtTMUAN ENTERPRISE 16$ IMT7 IM7 2M7 31/07 Oaw| OM6 Oft» API IVORY
      422 words
    • 973 37 ADVANCE CONTAINER LINES (PTE) LTD —A I 140 Cecil Street. #12-00, PIL Building. Singapore *****0 T AA\_f Li TEL; *****21 FAX *****19. TELEX :RS ***** ACLPL CR NO. **********0E OPERATIONS *****60 *****05 BANGKOK JAKARTA (Weekly 5 Slgt PAT/2 SH» LCH/ 1 Slq BMT) VESSEL VOY SIN BKK VESSEL VOY SIN
      973 words
    • 883 37 VESSELS VOY SW I JED ML* LEH HAM THP RTM ZEE VH-LE DE GEMINA H2gW 23/07 01/06 0M» 10*08 12/ OS 14/08 14/06 IMB VILLE D'ORION Y26W 28/07 08/08 11/06 14/08 18/08 19*08 19/08 20/08 VILLE DE MIMOSA VZ7W 06/06 15/06 17/06 23/06 24/06 26/06 26/06 27/06 VILLE DE TANYA
      883 words


  • Page 39 Advertisements
    • 44 39 (Retrieve more schedules!) Press "1" I Select the port and key in S 'yJ the four digit code eg: To New York (NYC) 2275 Key in your fax number Enter your phone number i Another Innovative service offered by document wiII be shipping times
      44 words


  • Page 41 Advertisements
    • 54 41 HHH|V^aV9 Dial 740-6000 on demand WmJ (Retrieve more schedules!) s j£) Press *1" L r JC\ Select the port and key in the four digit code eg: To New York (NYC) 2275 Key in your fax number I your phone number Another innovative service offered by CTCA document will be
      54 words


  • Page 43 Miscellaneous
    • 127 43 ■■KIZZIinSZrCZZEMH LEGEND R Thunderstorm Temperoture c X\ V Shower Weather Wind direction with speed in knots Roin Cloudy Sky Wov he, 9 ht Surface winds are indicated by arrows which My with the wind vl/ n circle represents calm or light and variable winds One holt fleche represents 5 knots
      127 words