The Business Times, 17 September 1998

Total Pages: 40
1 40 The Business Times
  • 14 1 THE BUSINESS TIMES MITA (P) ll<y 12/97 85f SINGAPORE Internet: http://business-times.asial.com.sg/ THURSDAY, SEPTEMBER 17,1998
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  • 62 1 DSL* ,+44.47) ZfiSU* PfBTOOMP U736J7 (+36.71) PVsnnxnmjißß U M3JO (+8.2) ||y jyHBTMOODe STOCK VAKKET INDICES Wednesday Change KLSECOMP JMjM +4J6 NIKKEI li.ll7.7fl -»J7 HANG SENG ?JNJS__+tS7.2t SBF INDEX 218.70 *7JJ JAKARTA OOMP 2NJI -13* MANILA COUP _1,171M ♦Ifl.U TAIPEI WP! 197U4 +U4A8 SEOUL OOMP ***** +1M CLSA CHINA
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  • 68 1 FOnZIASB usi s$ UM 1.7* £(tj8|/S8per£) 1J72 t8M w l. im 1.911 YBN Dlil 1*77 n 3JW 0.4M HK» 7.748 M3S BAHT 4MO (Ml KJPJAH 14HM t01«* •mmmrnutt PUKE SATES 8WQAPCBP 7J1 KUALA LUMPUR 1LM JAKARTA __JMI BANGKOK 14.71 MANILA JXM HOMO KONG ***** TAIPEI J.» SYDNEY JL45 TOKYO
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  • 731 1  -  Problems due to DBS' first working experience with foreign bank: BOT From Harish Mehta in Bangkok CONFLICTS and problems have arisen in Thai Danu Bank, the Thai unit of DBS Bank of Singapore, "because this was the first time that the Singapore bank
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  • 391 1  -  ELSE believed to be seeking official nod for deal with SES By. By Eddie Toh Kuala Lumpur and, Ven Sreenivasan in Singapore THE migration of the 112 Malaysian stocks on Singapore's Clob International to the Malaysian Central Depository will take up to two
    391 words
  • 743 1  -  Most outstandings settled in US dollars, by-passing ringgit By\ Larry Wee [SINGAPORE] Very little of an estimated 20 billion Malaysian ringgit in offshore holdings is likely to have flowed back to Malaysia as a result of extensive exchange controls imposed
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  • 366 1  -  Investors find substitutes for M'si&n dob stocks By] R Sivanithy [SINGAPORE] There was no feeling of emptiness with the cessation of trading in volatile Malaysian shares on the over-the-counter market yesterday, with investors turning their attention to local blue chips instead.
    Source: Bloomberg  -  366 words
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    • 144 1 IHaiuE Su&nS!|y la > Federal Reserve chairman Alan Greenspan, making no mention of the outlook for interest rates in the US or elsewhere, said yesterday that capital controls were the wrong answer to the crisis that has shaken world markets, Pg 10 v.; watt hut Property and banking shares rallied
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    • 28 1 Other reports Prime rate cuts bolster bank, property stocks, Pg 15 OCBC cuts prime, Pg 2 S&P cuts ratings for Maybank, RHB, Pg 16 Markets reports, Pg 20-24
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    • 83 1 caiKMScawr Hera's to Singapore 61 was not always right It was good fortune that on some critical issues, things turned out well, otherwise I would have come to grief and the Singapore story would have had a different ending. 9 Sftior IHntstsr L— Kuan Yaw at Na 75th birthday caistoCBtlon
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  • SINGAPORE AT HOME & ABROAD
    • 290 2  -  EYE OH THE ECONOMY Finance By i Clarissa Tan GROWTH of M 2, the most common measure of money supply, picked up to 9.5 per cent year-on-year in July, from 8 per cent in June. M 2 which comprises currency in circulation, demand
      Source: MAS  -  290 words
    • 478 2  -  SM LEZTS BIRTHDAY CELEBRATION Tougher to overcome problem this time but he believes in ability of present leadership to handle difficulties Reports by Chuang Peck Ming SINGAPORE is facing its most serious economic crisis since the British withdrew its armed forces
      GEORGE GASCON/ST  -  478 words
    • 491 2 SENIOR Minister Lee Kuan Yew often used to say that politics is not a game of draughts but chess, Lim Kim San, executive chairman of Singapore Press Holdings, recalled last night. "He used to say, 'You have to think a few steps ahead of your
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    • 467 2  -  Plan to supply gas to homes, firms to be discussed later By] Ronnie Lim INDONESIA is considering selling natural gas to Singapore for use as town gas, or gas that can be piped into homes and commercial establishments, Pertamina's president director Soegianto said
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    • 263 2  -  By\ Siow Li Sen OCBC Bank has cut its prime lending rate by a quarter percentage point to 7.25 per cent, effective today, leaving Overseas Union Bank as the only Big Four bank to keep its PLR unchanged.
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    • 321 2  -  By] Louis Beckerling PACIFIC Islands' traders met local businessmen here yesterday in a "match-making" session organised by the Trade Development Board (TDB), and the United Nations' Economic and Social Commission for Asia and the Pacific (Escap). The objective of the session, said Escap director
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    • 101 2 AFX-Asia [TOKYO] Tokyu Department Store Co Ltd said it plans to liquidate its Singapore outlet, Tokyu Department Store (Singapore) Pte Ltd, as part of its restructuring plans following losses of 4.8 billion yen (5561.3 million). The liquidation of the Singapore outlet follows the closure of its
      AFX-Asia  -  101 words
    • 393 2  -  STpore's Malayalee community leads IT initiative By\ Raju Chellam A NEW IT Services Cooperative (ITSC) is being set up by the Singapore Malayalee community to put a personal computer in every home of the Indian community here. The proposed
      393 words
    • NEWS Roundup
      • 77 2 THE US Embassy here will not accept walk-in non-immigrant visa applications after tomorrow. Applications will have to be made through travel agencies or be posted. Processing time will range from five to seven days for visa applications through travel agents, while those made by
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      • 95 2 THE President of Singapore has reappointed eight members of the Majlis Ugama Islam Singapura (Muis) for three years from Aug7,1966. They are Abu Bakar bin Hashim, Abdul Wahab bin A Rahman, Syed Abdullah bin Haroon Aljunied, Abdul Manaf bin Rahmat, Mohamed Ma Inun bin M Fadullah Suheimi, Mohamed
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      • 66 2 SINGAPORE Airlines is the world's best airline, according to readers of Conde Nast Traveller magazine. The national carrier won the top honours in the magazine's 1966 Readers Travel Awards. Meanwhile, Wah Chang's Banyan Tree Phuket was named the world's best spa resort, beating Chiva
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  • Page 3 Advertisements
    • 220 3 A course that could well circle the world. Just as his yachts are engineered to keep YACHT DESIGNER BRUCE FARR going under the most adverse conditions, ATTRIBUTES MUCH OF THE SUCCESS OF HIS DESIGNS TO so is the watch that Farr so much admires: "RELIABILITY ENGINEERING'.' his Rolex Submariner. Equipped
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  • FOCUS: PROPERTY
    • 425 4  -  Prices at half of peak levels in mid-1996 in worst-case scenario: Pidemco study By Diana Oon [SINGAPORE] PRIVATE residential prices still have some way to fall, and could sink to just half the peak levels in mid-1996, according to research by government-linked developer
      Source: Pidemco Land  -  425 words
    • 343 4  -  Semi-Ds in the eastern area offer cheapest rents of $137 per sq ma year By: Diana Oon [SINGAPORE] Rents for private landed homes in the central and eastern regions have been worst-hit over the last two years, according to data
      Source: IMAS  -  343 words
    • 887 4 Property transactions for districts 15 and 16 (sectors 42 to 45 and 46) lodged between Aug 15 and Sep 12, 1998. PrqjKtNmrf Prop Contract Tenure MM* Ptto M Start NM* Typt Date U«*M* (ST000) <S» District 15 Amber Park Apt 06/07/98 FH 1743 1100 631 Amber Park Apt.
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  • Page 4 Advertisements
    • 414 4 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
      414 words
    • 14 4 Visit The Straits Classified to start your holidays on the right foot. j ifoj
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  • CHANGE IN MALAYSIA
    • 392 5 Police confirm arrest of Anwar associate nnderlSA AFP [KUALA LUMPUR] The Malaysian police's arrests of acquaintances of ousted deputy premier Anwar Ibrahim are part of a government campaign of fear and an "omen" of more to come, a human rights
      AFP  -  392 words
    • 431 5  -  Official also clarifies when re-invested money can be repatriated From. From Meera Tharmaratnam in Kuala Lumpur MALAYSIA'S central bank said that capital gains from stock investments can be repatriated immediately, and also indicated that fund managers could invest the principal sum
      431 words
    • 436 5 Measures will hurt its neighbours too, he tells US House Banking Committee AFP Bloomberg [WASHINGTON! Famed financier George Soros on Tuesday dismissed Malaysia's newly imposed currency controls, warning they will have a "disastrous" effect on its economy and hurt neighbouring countries too. In
      AFP; Bloomberg; REUTERS  -  436 words
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  • ASIA'S ECONOMIC SLUMP
    • 772 6  -  Many fear govt won't honour existing contracts with state firms From, Shoeb Kagda in Jakarta FEARING that contracts already signed with stateowned enterprises may not be honoured, American and European multinational corporations are holding back on new investments in Indonesia, while
      772 words
    • 235 6 AFP [SEOUL] South Korean Trade Minister Park Tae Young pledged "special" government steps yesterday to help kick-start the country's stalled economy and export motor. "The government will map out special steps to boost exports," Mr Park told a press meeting. Export firms will
      AFP  -  235 words
    • 337 6 It suggests debt moratorium, some capital controls for nations tinder attack AFP [GENEVA] The UN's main forum on world economic issues yesterday recommended that debtor countries be allowed to decide a moratorium on debt repayments and control chaotic movements of capital, if their currencies
      AFP  -  337 words
    • 486 6 Move will also help stabilise markets in Latin America Reuters [SINGAPORE] A pre-emptive credit easing by the US to soften the impact of a cyclical economic downturn would give financially battered Asian countries some room to make much needed
      Reuters  -  486 words
    • 192 6 AFP [TOKYOJ US Trade Representative Charlene Barshefsky yesterday warned that US frustration over Japan's efforts to clean up its banking sector is rising, officials reportedly said. Washington officials, including herself, were increasingly "frustrated" over the parliamentary impasse on the banking legislation, Ms Barshefsky
      AFP; REUTERS  -  192 words
  • Page 6 Advertisements
    • 649 6 ©INTERNATIONAL FACTORS (SINGAPORE) LTD (Incorporated In the Republic of Singapore) l Uli II 1 >. awvii .'.mo i UNAUDITED HALF YEAR FINANCIAL STATEMENT The Board of Directors of International Factors (Singapore) Ltd wishes to announce the following unaudited results of the Group and of the Company for the six months
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    • 18 6 Editorial: No wand to wave the crisis away, Pg 11 main save Japan's finance sector stuck, Pg 9
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  • SOUTH-EAST ASIA
    • 476 7  -  12-13 production sharing contracts await govt approval By Ronnie Lim [SINGAPORE] Despite the country's political and economic woes, Indonesia's oil and gas sector continues to attract investors, Pertamina president-director Soegianto said yesterday. He cited examples such as the US$B billion (5513.8 billion) West
      476 words
    • 46 7 [MULANG, Indonesia] Villagers loading a truck with looted logs after they were discovered buried in the east Java town ofMalang yesterday. Police found about 700 cubic metres of looted wood buried by villagers. The logs were returned to the local Forestry Department. REUTERS
      REUTERS  -  46 words
    • 171 7 ■LONDON Reuters PRINCE Jefri Bolkiah, the Sultan of Brunei's estranged brother, has won a key court victory in London to stop his former personal accountants KPMG working for the Brunei Investment Agency, the British firm said yesterday. The High Court granted an injunction
      Reuters  -  171 words
    • 290 7 JAKARTA Ex-president alleged to have stashed fortune overseas Reuters AFP INDONESIA'S former president Suharto will be questioned within days by a new team set up to investigate allegations that he stashed a fortune in foreign banks, Attorney General Muhammad Ghalib said yesterday. Mr Muhammad said
      Reuters; AFP  -  290 words
    • 215 7 KUALA LUMPUR Bernama EDUCATION Minister Najib Tun Razak has expressed regret that Singapore Senior Minister Lee Kuan Yew made allegations against his father, the late Tun Abdul Razak Hussein, and others who have passed away, in his memoirs launched yesterday. He also said he
      Bernama  -  215 words
    • 276 7 JAKARTA Company has spent US$l5L3m on Telkom-1 AFP INDONESIA'S state telephone monopoly PT Telkom is seeking US$4O.l million (5569.2 million) to cover payment due early next year for a telecoms satellite to be launched in February, a report said yesterday. Telkom vice-president
      AFP  -  276 words
  • Page 7 Advertisements
    • 108 7 i 0' 0 e :1.• I I tof s le j BOSS HUGO r v 2 0" 8 5 Available at BOSS Shops at Ngee Ann City, Suntec City and Isetan Scotts Q All Watches at Lucky Plaza Wisma Atria, Deluxe Eastern at Centrepoint, V Q Precious Time at Chinatown
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  • CHINA-HONGKONG-TAIWAN
    • 378 8 BEIJING But experts warn that obsession with 8% target for year could affect stability Reuters AFP CHINA'S economy is forecast to grow by 9.1 per cent year-on-year in the fourth quarter of this year, the Xinhua news agency said yesterday, quoting a
      Reuters; AFP  -  378 words
    • 47 8 [BEIJING] American and Chinese officials attending the gala opening of Universal Studios' new theme show in Beijing yesterday. The multi-million dollar attraction in downtown Beijing expects to attract I,4oopeople a day and costs 35yuan (557.25) for adults during peak hours. AFP
      AFP  -  47 words
    • 337 8 BEIJING Illegal transactions hurting country's forex balance: report Bloomberg CHINA'S central bank has issued new rules aimed at wiping out black market transactions that are causing a rapid outflow of foreign currency. Under the new regulations, trading companies and their banks will
      Bloomberg  -  337 words
    • 275 8 BEIJING Shenzhen bonnes told to hold tests by month's end AFP VARIOUS business sectors and government bodies in China are mobilising to get the millennium bug problem under control well ahead of Dec 31, 1999, the official Xinhua news agency reported yesterday.
      AFP  -  275 words
    • 158 8 BEIJING AFP CHINA has begun construction of a U5596.5 million (*****.5 million) liquefied petroleum gas (LPG) joint venture with Britain's BP Oil Ltd, reports said yesterday. The gas base, at Daxie Island in Zhejiang province, was co-funded by BP Oil and
      AFP  -  158 words
    • 700 8  -  CBHA WATCH Asian crisis, weak yen serve to provide more fodder lor distrust between region's two largest economies By Lu Ning ECONOMIC hard times have a way of making neighbours testy. Asia's two largest neighbours, China and Japan, which also happen to be the
      Source:  -  700 words
  • Page 8 Advertisements
    • 137 8 I 1 Jgs vr > ><"' \> r i• v y —WW—.l Ml<ll MWH'W A STEVEN SPIELBERG FILM torn hanks saving private ryan edward burns matt damon torn sizemore the mission is a man. PARAMOUNT PiCTURES DREAMWORKS PICTURES--iv AMBLIN ENTERTAINMENT jr. mutual FILM COMPAQ TOM HA'/i SAVING PRIVATE RVAP; rrr
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  • ASIA
    • 234 9 NEW YORK LAT-WP IN a game of nuclear bluff, India and Pakistan exaggerated the number and size of the nuclear weapons each nation detonated earlier this year, overstating the power of the atomic bombs by a factor of four, according to the first independent scientific account-
      LAT-WP  -  234 words
    • 316 9  -  SINGAPORE Jost over 100 days to EMU, firms should get ready: Prof Koh By] Eugene Low WITH European Monetary Union (EMU) just 106 days away, Asian companies should "prepare themselves to do business in the euro", said Tommy Koh, executive
      316 words
    • 220 9 NEW DELHI AFP COMMERCE Minister Ramakrishna Hegde admitted yesterday that the Asian financial crisis had foiled India's target of 20 per cent export growth in the current fiscal year. "External trade which is so crucial for the growth of the economy is
      AFP  -  220 words
    • 354 9 TOKYO LDP, opposition wrangle over LTCB, panel to take control of crippled banks AFP CRITICAL legislation to salvage Japan's ailing finance sector was stuck in limbo yesterday as ruling and opposition parties battled over Long-Term Credit Bank of Japan Ltd (LTCB).
      AFP  -  354 words
    • Article, Illustration
      70 9 [SYDNEY] British artist Martin Creed yesterday being engulfed in a sea of43,ooowhite balloons which form his exhibit, 'Half the Air in a Given Space', at a preview of the 11th Biennaleof Sydney on Goat Island in Sydney Harbour. More than 100 artists from 28 countries will showcase some
      AFP  -  70 words
    • 127 9 SEOUL Reuters SOUTH Korea's top conglomerates plan to set up a leading bank In a joint venture with foreign partners by the end of this year, a spokesman of the Federation of Korean Industries (FKI) said yesterday. He said big groups, or chaebol,
      Reuters  -  127 words
  • Page 9 Advertisements
    • 321 9 t* >'* 'i V 1 t I v v r > I 1 4 t f "«V COMPETITIVELY PRICED. UNFAIRLY WELL DESIGNED. r •.V i 1 ,7 V V', t «r > v. .fi j' I -W-' V < >~ y> j < r "I" V v. -H'ii I' I
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  • THE WORLD
    • 394 10 LOS ANGELES Bloomberg US Federal Reserve policymakers are likely to cut the interest-rate target on overnight loans between banks by as much as three-quarters of a percentage point during the early part of 1999 to keep
      Bloomberg  -  394 words
    • 430 10 WASHINGTON Move will hurt living standards of the population, Fed chief says in testimony AFX-Asia FEDERAL Reserve chairman Alan Greenspan, making no mention of the outlook for interest rates in the US or elsewhere, said yesterday that capital controls were the wrong
      AFX-Asia  -  430 words
    • 362 10 NEW YORK Camdessus expects growth in Japan next year but says Russia wees a worry Reuters Reuters, Bloomberg THE International Monetary Fund on Tuesday defended last year's rescue deals in troubled Asian nations but said Russia would find it difficult to win
      Reuters; Reuters, Bloomberg  -  362 words
    • 391 10 MOSCOW Farther sign of new cabinet not in fa war of radical reform AFP PRIME Minister Yevgeny Primakov packed the heart of his government with a troika of centrists yesterday in a further sign that the new cabinet will choose pragmatism over radical
      AFP  -  391 words
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  • EDITORIAL & OPINIOM
    • 765 11  -  THE BOTTOMLDVE OPINION By Shada Islam The writer is a Brussels-based journalist who contributes to BT AS head of the World Trade Organisation, Renato Ruggiero has one overriding priority: efforts to promote world trade must not be allowed to fall victim to the widening
      765 words
    • 103 11 The global capitalist system which has been responsible for the remarkable prosperity of this country in the last decade is coming apart at the seams.' Sara US financier, to the US House of Representatives. 'It's not a message about fidelity or infidelity. It's that people want politics
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    • 659 11 EDITORIAL THERE is no magic wand to wave in the face of the global economic crisis to make it go away. The synchronised statements from US President Bill Clinton and the Group of Seven (G-7) industrialised nations will do nothing immediately for the
      659 words
    • 931 11  -  Clinton must repair his domestic political base, and sell a clear vision of US foreign policy 1 to the American public By Leon Hadar The writer is BT's Washington correspondent WITH President Clinton facing the possibility of being impeached by the United States Congress
      FILE PHOTO  -  931 words
    • 1040 11 QoOmr*! mklwociatk w>y» IN THIS age of reform, politicians are judged by their sensitivity towards efforts to introduce a greater degree of democracy... There have recently been calls for a more democratic system within the People's Consultative Assembly (MPR), Indonesia's highest constitutional body. At issue are
      1,040 words

  • EXECUTIVE LIFESTTLE
    • 845 12  -  Niagara's cool climate keeps acidity and quality high in all varieties of grapes, says gilbert lb aus GILBERT LE GRAS Reuters IF savouring wine is like listening to a melody, Canada's premier wine region, the Niagara peninsula, is starting to strike the right chords. What
      Reuters; FILE PHOTO  -  845 words
    • 586 12 HEALTH The screening spots cancer in fewer than 1% of these cases Reuters [WASHINGTON] Mammograms in elderly women those over the age of 70 may be a waste of time, serving only to make them anxious, doctors said on Tuesday. A report published In
      Reuters  -  586 words
  • Page 12 Advertisements
    • 301 12 I 3 DELICIOUS J J WAYS TO ENJOY, I THE REAL TASTE I OF TEOCHEW. J W I $438* I Cold Dish Deluxe Mk Bjfi] Braised Superior Shark's Fin (jflj Hp Roast Suckling Pig Eg Steamed Pomfret gj BA Poached Fresh Prawns M tattf Sliced Abalone With Sea Cucumber \B|
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    • 169 12 Locate its owner through Classification 821 (Found). Simply call CJLT.S. at 1800-737-1166 for this free service. Another Classified Service I Waiting till 1999 1 I may be too late! I Many foreign subsidiaries have already received instructions ■I from their Head Offices to ensure Year 2000 compliance for their payroll
      169 words
    • 357 12 The Advisory Firm KPMGSeminarSeries Malaysian Foreign Exchange Controls: The Changes and Practical Perspectives The dramatic changes to the Malaysian foreign exchange controls m part of aeries of measures to carb negative speculative effects oa the Malaysian economy caught many withia aad without Malaysia by surprise. There is a great measure
      357 words

  • Page 13 Advertisements
    • 322 13 Where to wine, dine and (SI asa '2?Wm I 1 1 I I c I t I r i For a karaoke with a difference, visit Singsation Theme Karaoke with its 18 themed KTV rooms. Company functions can be held at its Main Hall or Corporate Hall too. Opening Hours
      322 words
    • 138 13 Buy It. Sell It. Find It. Classified. f& f CATS. Call Today For Results Tomorrow. 1900-*****66 JL AiamJlarut QQ Singapore prmuiiy presents Gioacchino Rossini's OPERA IN 2 ACTS 17 SEPTEMBER 1998 7PM MANDARIN BALLROOM 4-COURSE BORDEAUX SET DINNER SHOW $98 NETT PER PERSON imm 1 1 Csst flotm n bf.
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  • Page 13 Miscellaneous
    • 911 13 TV&BADIO fi-OO NewssToday Followed mances. IMrf By Wheel of Fortune. 2.00 TV Innovations. 2-30 TV Innovations. 6.30 The Pyramid Game. 3.00 Legend of the Flying J d' 4.00 Kidz Blitz: Sesame 7.00 News 5At Seven. Fox. Street 7.30 Home Improvement. 3JB TV Champion. 540 The Silver Brumby. 8.00 Phua Chu
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    • 171 13 OKVFTIC CROSSWORD 1 Uncle's business is selling Lhi LmJ—-—--ment (4,5) aBree^ DOWN ta srass (7) YEBTEBDAYT3 SOLUTION i u II 14 Courted after having downed ***** HAtftlTßilglKMf it! 1 Humiliating criticism gets re- tools (63) full ardrt(34) 15 Temperate Tibetans dispersed 2 A heart throb ftiil of beans, around noon
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  • MOTORING
    • 764 14  -  Forget the frills, just basic wheels will do as car-buyers become more budget-conscious in these trying times Reports by^ Christopher Tan [SINGAPORE! PRACTICALLY relegated to the sidelines in recent years, manual transmission cars are roaring back into fashion, official figures show. According to the Motor
      764 words
    • 495 14 K«ii>g|fnn defaults spark demand in repo business [SINGAPORE] Vehicle repossession, traditionally the purview of individual operators and freelancers, has apparently become lucrative enough for companies to get into the act. One such company, Repo Recovery Services, is based in International Plaza, and has written to banks
      ARTHUR LEE  -  495 words
    • 226 14 [SINGAPORE] Transport operator Tibs has brought in the TXI the first new London cab model in SO years. Costing about £23,000 (5566,300) (before taxes) each, the TXI London taxi is more expensive than the latest batch of India-assembled Mercedes-Benz taxis. Tibs has
      226 words
    • 427 14 Sates slashed by $8,000-510,000 to woo buyers [SINGAPORE] Toyota distributor Borneo Motors, part of listed Inchcape Motors, is going on the offensive against parallel importers. In a thinly disguised campaign, Borneo Motors reduced prices of a wide range of products, bringing rates
      427 words
    • BUMPER to BUMPER
      • 52 14 V OLKS WAGEN Ag will donate five milllaii renminbi B m(X mtlHffi) In ¥k tlim nf flm Hi lit— flnort (llwilm VWchairman Ferdinand Ptoch, in announcing the donation, add: "We are long-standing friend* of China, «nd fuel tinipffl* fTMna denting n^dja^.^ilac^^ 17MH0 care to Chin* up per oentfrwn
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      • 74 14 FORMER F-l ace Gerhard Berger, 38. has been appointed motorsport director at BMW Motorsport Ltd. Berger, who ended hb Formula One career In 1987 after 210 Grand Prix and 10 vietoriee,wffl work towards preparing j BMW for its return to F-l racing in 3900. The manufrcturer
        74 words
      • 78 14 BMW will soon be offering "active seats" for the 7-series. Developed jointly with orthopaedic surgeons, the seats Incorporate two hydraulic chambers located side by side underneath the seat pan. A water-glycantine mixture is pumped and drained from these chambers, improving circulation and keeping the
        78 words
      • 87 14  -  OmlMkr Cristopher Tan HONDA Motor has introduced a new type of vehicle body that minimises pedestrian head injuries in case of a collision. The bumper, bonnet and other frontal parts have been designed to absorb impact energy, reducing head injury level by 50 per cent, the
        87 words
  • Page 14 Advertisements
    • 312 14 The First Dashboard CD Changer! Now for the first time Philips puts the car CO changer within With the most advanced D/A converters and 8x easy reach of the driver. Designed to fit any standard dashboard oversampling, it provides outstanding sound reproduction, slot, it enables you to change the CD
      312 words

  • COMPANIES & MARKETS
    • 702 15  -  But positive impact of lower rates may be offset by possible CPFcnt: analysts By' Wong Wei Kong and Siow Li Sen [SINGAPORE] Bank and property stocks snapped back yesterday on the cut in prime rates by Singapore's major banks. After weeks of being
      702 words
    • 449 15  -  By I Christopher Tan [SINGAPORE] Sime Singapore yesterday released its full-year results without the dreaded "p" word making it one of the few companies in recent months not to have made provisions for foreseeable losses. The diversified group remained very much in the
      449 words
    • 238 15 [SINGAPORE] Billiontex International, which controls Asiamatrix together with Silver Beads, has sold 1.5 million of its shares in the company at an average price of $1.30. Sesdaq-listed Asiamatrix, which is aspiring to be a regional healthcare specialist, said the shares were registered in the
      238 words
    • 662 15  -  HOCK LOCK SIEW Wong Wei Kong MERGERS are supposed to create winners all round. But the latest union in corporate Singapore, the marriage of listed broker Vickers Ballas with finance group ST Capital, produced winners and losers almost immediately. The real
      662 words
    • 493 15  -  Inopportnne timing as industry is just starting to open up By' Wong Wei Kong [SINGAPORE] Anxiety over a possible cut to Central Provident Fund contributions could not have come at a worse time for the CPF unit trust industry, which
      493 words
    • 203 15 [SINGAPORE] Kian Ann Engineering has agreed to raise its stake in an Australialisted heavy machinery company to 11.2 per cent for just under $11 million. The company will buy 6.7 million Tat Hong Holdings shares from one of the latter's substantial
      203 words
    • COMPANIES
      • 595 16  -  Poorer earnings mainly due to USs3om provisions for S-E Asia assets From Quak Hiang Whai in Hongkong HONGKONG Land Holdings, the property arm of Jardine Matheson Group, yesterday reported an 18 per cent drop in interim profit and said its bottom
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      • 450 16  -  Seccnd half bears the brant as Asia crisis deepens From, Loh Hui Yin in Hongkong ASIA'S deepening economic crisis has savaged the earnings of Sino Hotels, leaving it with just HK$l.6 million (*****,200) for the year to June, against a robust HK)I47 million a
        450 words
      • 255 16 Bloomberg [KUALA LUMPUR] The credit ratings of Malayan Banking Bhd, Malaysia's largest bank, and RHB Bank Bhd were cut to one notch above junk status by Standard A Poor's Corp yesterday, following a similar cut in the country's rating on Tuesday. Malayan Banking's long-term foreign
        Bloomberg  -  255 words
      • 169 16 Bloomberg [SINGAPORE] Osprey Maritime Ltd, a shipowner and operator, may sell assets or refinance existing loans as it looks for ways to repay its massive debt after cancelling a bond sale last week to raise $500 million. Osprey's interest payments more than doubled
        Bloomberg  -  169 words
      • 378 16 AFX-Asia [HONGKONG] Giordano International Ltd said it is looking past the current regional crisis, which has hit earnings badly, towards continued expansion both locally and abroad as part of its long-term strategy. Accordingly, the company plans to open its first
        AFX-Asia  -  378 words
      • 417 16  -  IPO WATCH By. Jennifer Lien [SINGAPORE] Local electronics firm Ultro Technologies, previously known as Uraco Technologies, is eyeing a listing "soon" to fuel growth. The first company to supply the now-übiquitous cal-ler-ID sets to Singapore Telecom started life in 1987 with two
        CHRIS LOH  -  417 words
      • 405 16 Move deals major blow to seller Amcorp's revamp DEBT-LADEN Arab-Malay-sian Corporation Bhd (Amcorp) faces a major setback in its reconstruction plans now that Dutch-Belgian bank and insurance group Fortis International NV pulled out of talks to buy a stake in
        405 words
      • 430 16  -  Fonds to upgrade machinery and fa* working capital By] Diana Oon [SINGAPORE] Main board aspirant Leong Hin Holdings will be looking to raise between $5 million and $10 million from its initial public offer later this month. Managing director Bernard Chan said yesterday the
        CHRIS LOH  -  430 words
      • 118 16 [SINGAPORE) Pentex Schweizer Circuits' net earnings plunged 74 per cent to $2 million for the year to June, while group turnover rose 57.3 per cent to $148.1 million. Earnings per share plummetted to 3.04 cents from 11.38 cents on a fully diluted basis, while net tangible
        118 words
      • COMPANY Briefs
        • 39 16 as (SML) effective yesterday, but will refhain as independent non-executive director for the group. Mr was appointed as an independent member of SML's audit committee, replacing the chairman Tham Heng Man who resigned effective Sept l.
          39 words
        • 84 16 [SINGAPORE] ASJ Holdings'net earnings roae 2D per cent to $2.82 million for the six months toJune. Turnover Jumped 46 per cent to $28.3 million Earnings per share rose to 8.13 cents from 2.09 cents while net tangible assets per share climbed to 34.41 cents from 29.61
          84 words
        • 52 16 [SINGAPORE] ST Computer Systems Services has bought a 50 per oent stake in SCS Consulting Services Pte Ltd for $500,000. This fallows its Sept 2 joint venture agreement with Software Consulting Services Australia Pty Ltd to undertake consulting and outsourcing services for its
          52 words
        • 77 16 [SINGAPORE] Mainboard-listed International Factors Singapore is in the red at half-time to June, with net losses of $3.8 million, compared to the previous year's interim net earnings of million. Group turnover was up 4.1 per cent to $17.3 million. Loss per share amounted to
          77 words
        • 90 16 (SINGAPORE] ABR Holdings' interim net losses to June widened to $1.4 million from $429,000 a year ago, as a result of associates and subsidiaries' losses, while group turnover fell 2J6 per oent to $15 million. Loss per share rose to three cents from one
          90 words
    • INTERNATIONAL COMPANIES
      • 323 17 The money will be used to reduce debt and for further investments Bloomberg [LONDON] British Telecommunications pic, the UK's largest telephone company, said it will record a £1 billion (552.9 billion) pretax profit in the quarter ending Sept 30 related
        Bloomberg  -  323 words
      • 294 17 FT [PARIS] Thomson-CSF, the French defence electronics group, on Tuesday announced a restructuring that could push it into the red'this year. The company, which this year reverted to majority private ownership after 16 years of state control, said moves to combine businesses following the
        FT  -  294 words
      • 55 17 [PARISJ Jean Lhoste, director of the pharmaceutical company Pfizer, shows the Swiss version of the anti-impotence pill Viagra inPocesur Cisse, south-west of Paris. Pfizer is the only company to distribute Viagra to Europe, the Middle East and parts of Africa. Viagra was cleared for sale throughout the
        AFP  -  55 words
      • 341 17 Bloomberg [EDEN PRAIRIE, Minnesota] Best Buy Co, the biggest US electronics retailer, said fiscal second-quarter earnings rose more than sixfold on lower operating costs and higher sales of televisions and entertainment software. Net income for the quarter ended Aug
        Bloomberg  -  341 words
      • 260 17 Reuters [LONDON] British retail group Kingfisher pic yesterday reported a 22 per cent increase in first-half profits but warned of a general slackening in UK retail sales growth. The firm, whose B&Q chain is the Do-It-Yourself market leader in the UK, made profits before tax
        Reuters  -  260 words
    • FINANCE & COMMODITIES
      • 467 18  -  But region's woes far from over, says derivatives expert By Shiv Taneja [SINGAPORE] The region's problems are far from over, but its financial markets are likely to experience far less volatility in the days and months ahead, said an expert on financial derivatives.
        467 words
      • 434 18 Analysts put Q3 earnings at USs4lom; trading loss surges 50% Bloomberg [SAN FRANCISCO] BankAmerica Corp said its trading loss widened 50 per cent to more than US$33O million (*****.8 million) this quarter, as stocks and bonds in emerging markets tumbled. The biggest bank on
        Bloomberg  -  434 words
      • 309 18 Bloomberg [WASHINGTON] Two groups representing derivatives investors joined the chorus of voices urging the Commodity Futures Trading Commission (CFTC) to refrain from imposing broad new rules on the US$3O trillion (5J51.7 trillion) over-the-counter (OTC) derivatives market. The End-Users of
        Bloomberg  -  309 words
      • 317 18 Bloomberg [SEOUL] Samsung Electronics Co said it halved a record one trillion won (511.2 billion) bond sale, bowing to pressure from the South Korean government to help curb rising interest rates. The decision by the world's biggest memory chip producer comes
        Bloomberg  -  317 words
      • 255 18 Report Reuters [SINGAPORE] Simex Euroyen futures eased yesterday on concerns over Japan's financial system following negative ratings moves by Standard Poor's and Moody's. S&P said it had put the long- and short-term ratings of Bank of Tokyo-Mitsubishi on negative credit watch. Moody's placed the
        Reuters  -  255 words
      • 179 18  -  MSGI TAIWAN FUTURES Charlie Kuo service dealer, Refco Singapore THE Simex MSCI Taiwan Stock Index futures rallied yesterday on the back of Wall Street gains, which eased concerns over the financial turmoil in the emerging markets. The September 98 contract surged 6.2 points to
        179 words
      • 208 18 ENERGY REPORT Reuters [LONDON] Oil prices shuffled sideways yesterday with little impact from a short meeting of Gulf oil powers in Kuwait London Brent blend crude oil futures for November traded up two cents at U5513.30 a barrel by 1600 GMT. Opec ministers
        Reuters  -  208 words
      • 266 18 AFP T«ondom THE dollar was firm against the yen and the German mark ahead of Federal Reserve chairman Allan Greenspan's testimony, rising against the Japanese currency after ratings agencies Standard Poor's and Moody's revised outlooks for some Japanese banks and put others on notice of a possible credit
        AFP  -  266 words
      • Article, Illustration
        1128 18 DfTHRBAMK OOS8 KATB8 sevie > i w m t:— AS C$ fca* -fcCV FTr 9m WO Hd tote—a Van Wan M HZjmt Naa S» tand tk Off WtNi Mf 0 999 6.TT0 OJU 3.395 1010 4-603 ***** M751 0 803 1171 22*7 1*732.*****005 102S 1421 09*3 0594 Canada IM 15H
        1,128 words
    • 1335 19 *****1 FUTURES Sep it MMCl(Mmsdasto|KriSJ0*a> RSS1 COHTtACT(ScHitjAg) ClQM Mm Opofl Until Hi«h low Sott (towws) Maraat Oct* TI7.00 114.50 f&OO 300 *575 MvM 117.75 M90 I OK 96 ***** m.90 118.50 600 1450 Jan/Mar 99 121.00 1950 Ipr/JH 99 125.25 1950 Jtf/5» 99 129.75 BSS 3 CONTRACT (US
      1,335 words
    • 1792 19 §0M00ft rS >I>H Pw** 34 Group 497.400 7.400 AB Ports 258.000 unch Attay IMtoMl L 1185.900 «-100 AModDoniocg 475.000 -1.000 Am*c 149.000 -2.000 AsdaGroi* 180.600 -5.000 BA7lnd 435.400 -7.800 8C PIC 370.200 19.800 BKC 79.000 1.000 BOC Group 785.000 5.000 BRPotroMum 826.000 9.000 BTR 120.000 4.000 Bank*
      1,792 words
    • 1520 19 Bloomberg Plata as -2M7 JAPANESE stocks traded mixed as Wall Street's third day of gains and a weaker yen fuelled hopes for increased profit at exporters such as Sony Corp and Honda Motor Co. On the other hand, Long-Term Credit Bank of Japan Ltd plunged 34 per cent and
      Bloomberg  -  1,520 words
    • Article, Illustration
      669 20 AFP P Composite lidex -L 23 INDONESIAN shares yesterday closed 0.4 per cent lower as investors scratched around for fresh leads after a near 9 per cent plunge the previous day, dealers said. "The market sentiment remained bearish following yesterday's panic-selling," a dealer with a state brokerage said, adding
      AFP  -  669 words
    • Article, Illustration
      1495 20 Reuters P Hang Seng +127.21 BLUE chips ended firm yesterday as they drew strength from a positive tone in overseas markets, but China plays stole the spotlight with a strong rally on hopes China would spur its economy. The Hang Seng Index closed on a gain of 127.21 points
      Reuters  -  1,495 words
    • Article, Illustration
      595 20 Reuters 13 Shenzhen B Index -0.77 SHENZHEN'S hard currency B shares closed lower yesterday as technical selling pared back Tuesday's strong gains, analysts said. The B Index fell 0.77 of a point to 66.02 on turnover of HK$26 million. "On the technical side, there is a need for B
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  595 words
    • 330 20 AFP QWFlndez +IHSB TAIWAN stock markets surged 1.7 per cent yesterday on strong buying of lowpriced blue chips, dealers said. The Weighted Price Index rose 114.58 points to 6,972.54, following a 2.21-point slip in the previous session. "Big players have worked together to lift low-priced large-cap shares," said Andy
      AFP  -  330 words
    • 256 20 AFP Q Wellington -JAM LATE selling of Telecom Corp and Carter Holt Harvey Ltd shares pushed New Zealand stocks down 0.8 per cent yesterday. The NZSE-40 Index shed 14.89 points to 1,747.74 on turnover of NZ$67 million with Telecom Corp closing at NZ$7.3O, down 20 cents. i*»m us rwi
      AFP  -  256 words
    • Article, Illustration
      775 20 AFP set Index +7J2 THAI shares gained 3.6 per cent yesterday with solid buying in leading banking and energy stocks amid rises on other regional bourses, analysts said. Relatively strong buying interest was fuelled by speculation of a US rate cut and expectations G-7 countries will help stabilise global
      AFP  -  775 words
    • 265 20 AFP Fl Manila +36J4 PHILIPPINE share prices closed 3.2 per cent higher yesterday amid signs that foreign investors may be returning, analysts said. The Philippine Stock Exchange Composite Index rose 36.14 points to close at 1,176.54 points. Volume fell to 263 million shares worth 1.061 billion pesos. —AFP Manila
      AFP  -  265 words
    • 404 20 AFP Composite Index *188 SOUTH Korean share prices ended the day less than one per cent higher on technical factors, with sentiment underpinned by declining money market rates and a firmer won, dealers said. The Korea Stock Exchange Composite Index ended 2.88 points up at 313.17, off a high
      AFP  -  404 words
    • 581 20 AFP PAH Primaries -LI SHARES eased slightly yesterday as profit-takers made their mark in light trade. The All Ordinaries Index feU 1.1 points to 2,553.2. The All Industrials Index shed 22 points to 4,483.9 and the All Resources eased 0.2 of a point to 996.1. Turnover totalled 214.4 million
      AFP  -  581 words
    • KUALA LUMPUR STOCK MARKET
      • 344 21 Bloomberg Bernama IHI Composite Index +4M MALAYSIAN stocks rose, with the 75-stock property index gaining 6.64 per cent, after Malayan Banking Bhd, the country's largest bank, cut its key lending rate to 8.9 per cent from 9.05 per cent. The Composite Index rose
        Bloomberg; Bernama  -  344 words
      • 8168 21 INDUSTRIALS Cmsmmt pnAKti 1998 Last Vol Day Nat Cap If C—I8—y >1» •OOP Hm> Law >/l $W 310 170 A|momoto 210 11.6 85.) 148 35 Anqkasa 60.5 1 134 62 59 L4 89.2 290 123 Apollo Food Hlq ISO 3 M ISO 170 6.3 72.0 355 I0S Bar jaya Land
        8,168 words
    • WARRANTS&OPTIONS
      • 2476 22 BONDS, LOANS IWAMANTS 1998 LMt Va4 Day Laat Owti A v« Hlfk Low StiM Campany W« *ar- COOO) Hl«h Law Buyar lllw Prka 20 5 3 3160 "Acar W*****1 US$ 15 4 5.5 95 5 3164 AcmaW0K>724 8.5 *1.5 600 73 6.5 7 3161 AUTach W*****7 28.5 253 39 18
        2,476 words
      • 222 22  -  WARRANT WATCH -By R Sivanithy THE local market has responded really well to the closure of trading in Malaysian shares on Clob some of the gains among the small caps and warrants easily rival Clob at its best. One good example which perhaps has gone
        222 words
      • 196 22 C€ Or >9M Lm( V* tor LatfQm** Ok M W M M Cap H»» L— X— Umrnmi ton COOOI U» toyr M» Cw W t— ~400 250 5123 COL (2000) Ml 400 MS fcO 1A 2j0 203 7744.7 5124 CaVWy toe 20c MIL—720 265.0 2J 7* 6.0 *****/*
        196 words
    • 5033 23 Transaction datr S<-p 10 ft MM Laat Vol Day Laat OwM Otv Otv YM Nat Cap Avg Mg» Law >W» riw>n» m» *h rwot HN» L— 8»yac 8a8ar it C»r »/l tmi Prtea 142 49.5 m t >000 Ac ma SOc 61.5 *1 306
      5,033 words
    • 1016 23 Or Or M Wl ±4* #8» LMtOMto Ok Ml YN Ml Cap Avf HNfc L— mm ciw>M» %m *h room i—i m —y«r cw w <3T wi? 243 30 2049 'AS Auto K)c 72 cd *05 1*00 TU 70 715 72 HON 7.0 2.1 64 622 66 •2 40.5
      1,016 words
    • STOCK EXCHANGE OF SINGAPORE
      • 209 24 Stocks VotMM Keppei LandSOc 20,418,000 Wing Tal 25c 17,798,000 SingTel 15c 11,920,000 DBS Land 11,616.000 tappet Corp 11,380,000 STEnggWc 9,870,000 Excel 20c 7,619,000 ComfortGrp 25c 6,944,000 Frt Unto 20c 6,477,000 Guthrie *02 5,978,000 Stocks SingTel 15c 34,555,020 MS Foreign 29,235,075 SIA Foreign 19,699,687 Keppet Corp 19,499,911 STEngglOc 15,982,760 SPH 15,398,438
        209 words
      • 722 24  -  STOCK KiSKBT COMMENTARY Investors shrag off S&P's report and turn to bine chips, penny stocks in the absence of Malaysian shares on dob By R Sivanithy [SINGAPORE] Investors responded to the absence of Malaysian shares in the local market by
        722 words
      • ON THE GRAPEVINE
        • 144 24 HONGKONG'S Financial Secretary Donald Tsang has just bought a flat in the posh Mid-Levels for less than HK$lO million (512.2 million). Mr Tsang, if you remember, has been exhorting Hongkongers to buy some of the territory's assets, what with prices having fallen so sharply. In fact,
          144 words
        • 117 24 A LOT of thought apparently went into crafting the name "Lebex" used by the KLW group—Singapore's leading door-maker—as a brand name Ibr its range of doors. Though the name meant nothing by itself, Lebex has its roots in a wordplay by Lim Kok Hui, the KLW
          117 words
        • 52 24 WE'RE not sure if the other radio stations paid similar tributes, but FM 90.5 had a hearty birthday song dedication yesterday for Senior Minister Lea Kuan Yew, who turned 75. One listener called in with birthday wishes and a request for Mr Lee. The song—Frank Sinatra's
          52 words
        • 136 24 THE roller coaster ride in world markets has caused many a disgruntled investor to rile against the so-called "investment gurus" of our time. One such investor wrote in to the US financial weekly Barron's (Aug n 'It's a bull, iTsabear, it's a bull, ifsabear. No, it's Just
          136 words
      • Article, Illustration
        67 24  -  -by Shiv Taneja EXCEL Machine Toots closed two cents higher yesterday at 24 cents on a volume of 7.62 mNlion shares, compared with its 10-day traded average of 386,500 shares. While there is good support for the stock at current levels, there could be some volatility in the
        67 words
  • Page 15 Advertisements
    • 100 15 laW If I 1| ILJ JB jSI IHv Ist '~1 hL VL- /£V *1 1 Pv/1 fiSw v/ »<gawfinaßM V wMiij 11 fryT 5 rh ill) rgLTXftj fashioned--in sotid-gski Vfater-reststalrff lo -iHetrrSiait 500 crown and case back. Folding bracelet dasp wfth double sSfci). catch. Overseas. The world is yours. w
      100 words


  • Page 17 Advertisements
    • 1291 17 SIME LIMITED Preliminary Announcement of Results For the Year Ended 30 June 1998 The Director! or* pleased to announce fa following:1. Unaudited ruh of fa Group and of fa Company for fa year ended 30 Juno 1998 Group Company TUBNOva 634.3 660.2 -4 33.9 36 6 -7 OPERATING PROFIT (Nolo
      1,291 words

  • Page 18 Advertisements
    • 95 18 *r I Other Oriental Take'Aways Direct from New York International Fringe Festival Written Directed by Pek Siok Lian 1 to 14 Oct 98, Bpm daily plus 3pm on Sat Sun Venue Drama Centre Tickets $20, $25, $30, $35, $42 (includes 2 glasses of wine) Book by 21 Sep to eniov
      95 words
    • 7 18 £EfH)feertie& 77ie Straits Times Classifications 402-568 i^
      7 words




  • Page 22 Advertisements
    • 162 22 Take your vXpick The good life in Life! TheStraitsTimes fififiSfififiMfi^ Find out the latest on Maritime Safety and Resource Management from the MARTECH 98 Supplement in Shipping Times today. m^mu K' s to get a drink, go dancing, listen to the latest hits and catch the hottest bands in town.
      162 words
    • 28 22 "Yup, he was real surprised when he first noticed me hogging the Sunday Classified Section. He hadn't known that I'd discovered easy-to-read Cats' Mews SamanthaGoh, pnmary six student
      28 words

  • Page 23 Advertisements
    • 43 23 your advertisement in /''great—just found my pet througli\ you still have the puppy... described. m going to take real goo^^ fIK i r' ght TT "~"\Tv Buyina or selling through IF The Straits Thnes Classified is child's Play. i» r_itf »-»> CaIICAT.S. at 1800-737-1166.
      43 words

  • Page 24 Advertisements
    • 632 24 I BUSINESS N CC M THE MATTER Of THE COMPANIES ACT, CHAPTER SO AND IN THE MATTER Of KONQ MENO SAN PHOR KARK SEE FOUNDATION ON MEMBERS' VOLUNTARY LIQUIDATION) NOTICE IS HEREBY GIVEN pursuant to Section 306 of The Companies Act Chapter SO. that the Final Meeting of the members
      632 words
    • 34 24 Cairo or Congo, j Sailing schedules to The African Continent. 24 hours a day in the Shipping Guide Fax-On-Demand hotline 740 6000. Another innovative service offered bv If Till- 111 si\i-;ssTl.\li> Siiipi>i\(i i lmi:s
      34 words
    • 79 24 ■H| 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
      79 words

  • SHIPPING TIMES
    • 323 25 Bridge News Reuters THERE continues to be a little new business in the gram trades, but it is more for the handy sizes rather than the Panamaxes. Generally, trading here remains lacklustre with little new in the way of fixtures emerging. From Vancouver, Bunge took the 1977-built Alcor
      Bridge News; Reuters  -  323 words
    • 267 25 M *_±__5L CWTOMributlon _0J2 *0.00 291 CTiuan Hup 0.365 undl 1613 Cetco Invastmant 0.41 *0.01 U rrttaMUnks O.W *0.005 6477 GB Hotdlnqs 023 *0.01 28 Hal Sun Hup 0.325 undl 4319 HltPCNZoMfl 0.54 *0.035 391 IMCHoMnps H* 5.60 JpyaHaMnqt 0.41 *0.01 28 Jurana Shipyard 6.XJ -0.2 1*4 Kappal
      267 words
    • 693 25  -  S'pore office plans to operate at least 6 ships in region by year-end By Felix Chan [SINGAPORE] Odfjell Tankers Singapore has been expanding steadily, fuelled by robust growth in the petrochemical trade in recent years, and plans to have at least six ships operating
      SIEW YAW HOONG  -  693 words
    • 744 25  -  SHIPSHAPE By: Marcus Hand DESPITE having succesfully built a joint company with his two Norwegian partners in the offshore oil business over the last 16 years, Karl Urdshals, executive chairman of Nortrans, comes across as a modest and unassuming man. In a
      744 words
    • 356 25  -  By\ Marcus Hand [SINGAPORE] Neptune Orient Lines (NOL) is spending some US$4O mUlion (5568.8 million) over the next three years to ensure the company's computer systems are not affected by the so-caUed "millennium bug". Lim How Teck, NOL's group deputy president and deputy
      356 words
    • 261 25 Lloyd's List [KUALA LUMPUR] The 2.8 bUlion Malaysian Ringgit (SSI.2 billion) Tanjung Pelapas port, which is taking shape at the southern tip of Peninsular Malaysia, should be operational by December 1999 at least three months ahead of its commitment to
      Lloyd's List  -  261 words
    • 123 25 (SINGAPORE] Martech *98 International Conference and Exhibition on Maritime Safety and Resource Management 2000, opens in Singapore this morning. The exhibition and conference, Jointly organised by the Singapore Polytechnic's Department of Maritime Technology Transportation and the Maritime and Port Authority of Singapore (MPA), will focus on
      123 words
    • Martech '98
      • 648 26  -  Emphasising safety management and pollution prevention, Safety Management (ISM) code hopes to weed out sub-stancfard shipping.oWif?4 and encourage responsible f maintainAtximmteafoETrnn-tr nt^"-~saj ■Y DONALD URQUHART Donald Urquhart is a writer with the Special Projects Unit, SPH. arine M industry experts say the International Safety Management
        648 words
      • 118 26  -  Donald Urquhart Martech '98, which started yesterday and will end tomorrow, brings together the professionals, decision makers &nd academics of the maritime world. Co-sponsored by the Maritime Port Authority of Singapore and the Department of Maritime Technology Transportation, Singapore Polytechnic, the threeday event focuses on
        118 words
      • 221 26  -  Donald Urquhart The International Safety Management (ISM) code grew out of mounting concern in the 1980s about the shipping industry's poor management standards. In 1989, the International Maritime Organisation (IMO) adopted management guidelines for the safe operation of ships and for pollution prevention. These were developed into the
        221 words
      • 438 27  -  World-class maritime schools here aim to train more skilled and professional seafarers for Singapore to remain a world leader in the maritime industry. ■y DONALD URQUHART Shifting patterns in global shipping dominance and changes in international regulation mean an increased demand for Singaporean seafarers, said Singapore Polytechnic's
        438 words
      • 161 27  -  Donald Urquhart Aside from international accreditation, including the United Nation's International Maritime Organisation (IMO) and links with universities in the US and UK, Singapore Polytechnic's Department of Maritime Technology Transportation (MTT) was the first maritime institute in the world to get ISO 9002 quality certification.
        161 words
      • 591 27 New technologies in the maritime industry. Maritime and Port Authority of Singapore Winds of change Marine consultancy group Pelmatic Knud E. Hansen completed a study in late 1996 on the feasibility of using wind ships on long routes such as crossing the Atlantic or Pacific Oceans.
        Maritime and Port Authority of Singapore  -  591 words
      • 249 27  -  Contributed by Mr Paul Ashton, Spec Tec Pte Ltd ■Hhe recent introduction of I the ISM code and other regulatory changes has increased the demand for marine management software and new features in existing packages. Planned maintenance software, personnel software for managing training certification records and communications
        249 words
      • 377 28  -  Virtual sailing gives navigation students hands-on sea experience without even getting wet. •V DONALD URQUHART Students specialising in navigation studies at Singapore Polytechnic do up to 15 per cent of their course work in the Department of Maritime Technology Transportation's $2 million Maritime Simulator Centre,
        377 words
      • 323 28  -  Research and development is the next big step for the local maritime industry. Contributed by the Department of Maritime Technology Transportation, Singapore Polytechnic. The Singapore Polytechnic's Department of Maritime Transportation Technology has embarked on a research and development (R&D) initiative by establishing a maritime R&D
        323 words
    • 1201 29 SHIPPING INDUSTRY To prevent ships from losing more cargo to airplanes, some experts feel a 'fast ship' is needed to cut sailing time ITJ THE fascination of the idea of a superfast containership is still lingering. In addition, the economy has recently been putting more
      ITJ  -  1,201 words
    • 215 29 PAGE Delmas 7 ACl 9 Djak Lloyd 7 ANL 6 Dongnama 6 Accord 11 ECl Appenship 8 9 Astro 6 F00n9Stt0 Austral 11 GLink BSA 10 GWWtrinS Genshpg 10 8 tang Mas 11 h CMA Ha* 6 C0SC 8 Heung A 10 CSAV 6 Hyunda. 10 tt
      215 words
    • 19308 36 THEBUSINESSTIMES THEBUSINESSTIMES EXPORT ETA ETA Adv*rtis*r Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Teiepnone SIN D*st'n Nam* Nam* Number Number SIN D*st'n Nam* Nam* Number Number 23/09 W/B CSAV IBIS OOIS 65-2T***** To ADELAIDE (ADL) 2007 Australia 23/09 w/io Evergreen e garden 0249-074* u-jtirm W/09 H/10 Ofak
      19,308 words
    • SHIPS IN PORT
      • 716 39 V*JS#I Voy No B«rth Airtv»l Dtparturo Artamontt (JC76 J "™l J23 alongsid* 17.09/2000 Aim* PtfWu *****8 J11 liontuk 17 09/1800 As*an Jumbo S03N J15 alongsid* 17.09/1800 Bt Afriial S£PK J01 Mongud* 14.09/2359 Bt C Indra 2 *****C JOt alongsid* 16.09/2300 Mttsti m *****8 J01 atonfSK* 17.09/0600 Bt PJ)
        716 words
      • 1735 39 RECEIVING OF EXPORT FCl CONTAINERS AND LCL CARGO Book log/BtUnco Rstls Ship Voy Wo Ett/Btr Pftod from To FroM to u»r oon m/hoo u m/boo h/hs* wmo H/BOO M/MM MNO a K/iToo w®*** amoo it wmo 17/0*9* ff/Woc 3 17/0700 17/1B* 17/M00 4 17/1200 IT/MM 17/1700 »iw)m«» usw
        1,735 words
      • 197 39 Sop IS Mexico: Independence Day. Sep 23 Japan: Autumnal Equinox Day. Bap 24 South Africa: Heritage Day. Sap 28 Hong Kong: Chung Yeung Festival Taiwan: Teacher's Day. Oot 1 China: National Day. Hong Kong: National Day. Oot 2 China: National Day Holiday. Hong Kong: National Day Holiday. Oot
        197 words
      • 514 39 THIS report. conpUsd try Cocked Marias OH Ud. showi pries raogss la US dollan tnauad at slaps priess fcr s ssort ooaprehenetve description rftfc market Prices slump ars based on swap ilssd stent Market movements are ladicatsd The Cockett Bubker Pries ladsx chante sod the ladlridwl
        514 words
      • 432 39 Cartaa NO Mm 9*2.0 2.0 19.9 O.M 342 0.0T Owwftif Motor RmMm Ask UwUm Si—it He okow E25 1 4 12 3 3 0 380 Aw 997.7 OJ 0.4 0.07 31 0.03 Im m Mu 9919 0.9 19.4 0.11 *7 0.11 Wo QkOW 635 17 0
        432 words
    • AIR & LAND TRANSPORT NEWS
      • 618 40 S'pore carrier upgrading all cabin classes, US airline doing away with first class NYT SINGAPORE Airlines and Delta Air Lines announced two differing strategies to upgrade their long-haul in-flight service for business travellers. Singapore Airlines, which wins frequent plaudits for its service,
        NYT; FILE PHOTO  -  618 words
      • 141 40 AFP [CHRISTCHURCH, New Zealand] Rescue helicopters yesterday spotted a plane crashed on the Rudolf Glacier, near Mount Cook, with a pilot and two Japanese tourists on board, the National Rescue Coordination Centre said. Two helicopters had set off from Mount Cook search and rescue
        AFP  -  141 words
      • 298 40 AFP [BEIJING] Residents of Beijing capital of the world's biggest bicycle user have abandoned three million deflmct cycles across their city, the official Xinhua news agency reported. Once the city's 12 million people used bikes more than any other form of transport, with little
        AFP; FILE PHOTO  -  298 words
      • 288 40 Bloomberg [LUXEMBOURG] A European Union appeals court rejected a complaint by Ryanair Holdings pic, Europe's biggest low-cost airline, that state subsidies paid to Irish national carrier Aer Lingus were illegal. The Luxembourg-based European Court of First Instance upheld a 1993 decision by
        Bloomberg  -  288 words
      • 359 40 Bloomberg [WELLINGTON] Tranz Rail Holdings Ltd, New Zealand's only commercial railroad owner, said it will cut jobs and is reviewing its operations and capital spending in case the economy takes longer to recover than first thought. Tranz Rail corporate relations manager
        Bloomberg  -  359 words
      • 182 40 Reuters [HONGKONG] Cathay Pacific Airways Ltd said it was cutting its service to Indonesia to 19 weekly flights from 24 weekly flights in its winter schedule, effective on Oct 25. Hongkong's flag carrier said it will increase the number of flights to North America, Europe and
        Reuters  -  182 words
      • 1511 40 on ruwff eu abut no $***** o«3s so 326 <345 «MM 6A7381 1930 6A7362 2055 IMT7I »B 0F0S 2235 0f61 1930 0f82 2055 U457J 1610 1X6373 2350 S0229 2220 S0200S BB $026 2350 AiMt*r4M *1843 0450 *1638 2300 1845 .."JH? *1837 1455 S023 0710 $024 2320
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  • Page 25 Advertisements

  • Page 26 Advertisements
    • 170 26 satt pi <2 n yi SI/7M US the systems **V INTEGRATION SPECIALIST RIDING THE NEXT WAVE OF E-COMMERCE We have worked with top names from the local and international business communities. From turnkey projects to ad-hoc assignments, we have equipped Fast forward Fr<l ht Forwardlng s a 4 appljcation our
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  • Page 27 Advertisements
    • 123 27 I WARTSILA NSD I CORPORATION Wartsila 46 Sulzer 9RTAB4 I we have to offer f I 1. Two strong brand names, Wartsila and Sulzer 2. Complete diesel and gas engine portfolio with output range of 500 to ***** kW for both power generation and marine applications 3. Low, medium and
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    • 18 27 ALERT DISASTER CONTROL Q* "Global Emergency Response and I Preventative Safety Services" I STCW 95 CAPABILITIES L* -r.
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  • Page 28 Advertisements
    • 40 28 (pELMAnCj PELMATIC NEG PTE LTD S.SS |H@| X- ■yr 1. International Business Park #10-04, The Synergy Singapore ***** 7 Tel: (65) 665 6100 Fax: (65) 562 4320 ill ISO 9001 CERTIFICATED FIRM 2ETNORSKE VERI T AS IND'.'STR P, TH*: METHFRiAMi
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    • 76 28 ASIAN SHIPBUILDING INDUSTRIES (PTE) LTD We are a small shipyard with a Slipway catering for all types of repairs for coastal vessels at very competitive rates. Shipyard facilities and activities Slipway 80m x 17m Boiler repairs Afloat and anchorage repairs Industrial and offshore engineering works am ber blasting and painting
      76 words

  • Page 29 Advertisements
    • 724 29 IMPORT I MMm**t&UCA I QUIMNDIAN BVB-CONTINCNT I 13UPER SHUTTLE EXPBCBS IQULF KARACHI EXPRESS (QKX) 1 wssa vorAot icq mi vissa vor xa dmi ram ono kar coi pig sm OoS AMERICA 28W534 09/09 27 ''09 WO NOUOTDIAHRAJN O*T~ 91/9* ©4/09 04/09 00/09 11/09 15/09 19/09 20/09 00Q CALIFORNIA 30W537 16/09
      724 words
    • 663 29 Lines services represented n (!(Ol;) b Members of the Registry ct M■( jf.l Singapore Freight Forwarders Accredited Shipping Agents. BbAAw Association Sngapore Shipping Association CARGO FROM PORT KLANG/SINGAPORE JAKARTA ETA PKL ETA SIN ETA MALE Prt«<*B« Uh VMM 14/t9 H« 24/H Princess Lily V 8598 17/tt LILY MARINE SERVICES SINGAPORE
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  • Page 30 Advertisements
    • 1131 30 SAX SERVICE (DIRECT) Ivcsa vdt sara |ux 1 oak |dm hou |ch an mwlai wtc i mMMP 0051 09/09 tt/W 2t/09 28/W 29/09 28/09 29/09 29/09 30/09 30/09 gM OOSt 16/09 01/10 05/10 05/10 06/10 05/10 06/10 06/10 07/10 07/10 yinwouaa om 23/09 13/10 12/10 12/10 13/10 12/10 13/10 13/10
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    • 1894 30 (g) HANJIN SHIPPING HANJIN SHIPPING CS) PTI LTD h* M IOOfiHG *****5237 SALES 37W774 231 DOCIMUI *****71 274 OftUTKWIS *****41 252 MAW UK *****55 HU *****40 OMO- ************ TO NW USA CANADA g$A «V5/VW IAM 5 UNI HAUI/VOY ITMI M 1 I«I«>I11 m I M I W I W TV»
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    • 324 30 FMt iY CO M TAIMJUI fP PIPICA TIP HIVHH Vtssa VOT SM Hjt HOT SI HK6 KH USH MS |«SSa 1 VOT I SIN IWE VOT 1 SIN »Ml KMK KBUJN6 OOPS OA/M 00/80 OOON 00/00 13/00 IS/W 17/00 11/OO Kir StS I fyS Is 2 IKMKPVuT' 1 11|g 1
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  • Page 31 Advertisements
    • 1299 31 DSR-SENATOR LINES TO UK/CONTINENT TO RED SEA/MEDfItIRKANEANCANADA VESSft VOY «jT LtH HTM W HUM Wf HI TOT m JB Bff SH FOB W.C MTW PUSAN SENATOR WNB3* IS M Hit Mil M M 07 10 Mil 11 10 CMOYANQ PHOENH WM*4l 17 M M M Ml* Mil Mil nII 1711
      1,299 words
    • 948 31 iJi MAC-NELS S PORE M'SIA Carrlsr: MN CONTR LINES, INC p. gudang: <ot> awn. I f\-/ J eWMOtIMPWMOM SBU: (084) *****0 MAMLA: (632) *****24 PQ4ANQ: (04) *****38 BANGKOK: (082) 238M57 SURABAYA: (31) *****0 P. KELAWQ: (03) *****77 JKT: (21) *****07 MOW: (61) *****3 KUCHXG (082) *****1-3 XINGANG PORT KEIANG MV
      948 words
    • 565 31 LINE r MUARA LABUAN vrssa vor m> fu vissa vor no ra sratt muaaa srotf 1M CAUM MB-32 VI2I/00 23/09 20/00 OUUUUAtO-32 VIS/W 23/00 27/04 SIUITSNOPI V271/W 27/09 30/09 STRAITS HOPE V271/W 27/H 30/00 CWU MB-J? VI3I/90 #1/10 04/10 CMAMMB-32 VIX/W 01/10 05/10 Slum NOR V2M/90 05/10 07/10 STUITS NOPE
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  • Page 32 Advertisements
    • 1365 32 I VESSEL VOY SIN POU PKQ PEW POM PUB SHJ IBA BIK IRAN MATIN PJL 1308 19/09 27/09 28/09 28/09 29/09 IRAN VAHDAT PJL 1317 08/10 18/10 PQB- Mini Oaboos. DUB > Dulul. SHJ Slurjah. BA Bandar Abbas, BIK Bandar Imam Khomaini ACCEPTING CONTAINERSREAK-BULK SHIPMENTS TO INLAND POINTS IN IRAN
      1,365 words
    • 1518 32 TO ISRAEL jl IN 13 DAYS I IVIRY THURSDAY I I »SHWTONW«* l&BtlW MltHßlOl OUTWARD (I/I) 4NSM2 JOHOKOmCt H isiss fl^iisK"" o^ 2 ss™«»» z, m ■a,5, ns K g SS 1 «»SS &SL&S&S, K?** 35 SS in. Fv» 88 U E?H wKi.»*'» Z g 88 58 SS Kn U
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    • 621 32 r EASTERN CAR LINER, LTD.' -£'SXr I Ifc I KL (SINGAPOKI) PTI LTD JSE2EL 1 STK3AUZI m KOKO KAVY UFT UTTO 122 TOWS) EG. (SINGAPORE) PTE 4JD LOAD NG FOR PORT KLANG/PENANG/BONTANG CHITTAGONG/CALCUTTA/HALDIA MV "OCEAN BRAVE" V.ll MV "ERISA AZUL" V.16 ETA SN 14/09/98 ETA PNN 17/09/98 ETA BON 23/09/98
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  • Page 33 Advertisements
    • 1311 33 EUROPEAIK/SCANDINAVIA/FINLANO/ftUSSIA S6P ROM ANW HBG THP ZEE LHV LHV THP ROM ANW HBG PKL SGP E. DIADEM RW-002 20/00 09/10 13/10 10/10 12/11 13/10 14/10 E GLEEFUL RE 053 22/00 23/00 23/00 11/09 E. DAINTY RW-M7 27/09 11/10 20/10 17/10 18/10 20/10 21/10 E RIGHT RE-03S 27/00 20/00 20/00 31/00
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    • 1088 33 ADVANCE CONTAINER LINES (PTE) LTD AP I 140 Cecil Street. #12-00, PIL Building, Singapore *****0 Li TEL: *****21, FAX *****19, TELEX RS ***** ACLPL CR WO. **********0E OPERATIONS: *****6 a *****05 ■AWOKOK JAKARTA gwm i tin POTn »f« LCW i m MIT) vissa voy on kk vtssa VOY I aw
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    • 415 33 NANTAI LINE FULLY CONTAINERISED SERVICE TO MAURmUS SOUTH AFRICA vissa wr m pui am m err kb~ immiaus tow 23/w oz/io ot/io w/11 to/io 13/11 SOUIBIMACON MQ7S W/W 01/10 12/10 IS/18 14/lt mmasrau too?s oi/io iyio iyio a/io 23/10 a/io mroifwicßS im 13/10 27/10 30/10 31/10 milUlQUffll M3OS lt/10 2VIO
      415 words

  • Page 34 Advertisements
    • 459 34 BSA il MYANMA wBHk FIVE STAR LINE \T (MyoNMar Notiooal Um) Loading for Yangoa (Rangooa) VESSEL VOY SM PRL PEN PGU MAWUMYME SOW 23/9 MALAYSIA AGENTS: OOUSTEAO SHIPPING AGENOES KNk TH (03)*****00 PRL: TH (03)*****01 PEN: TEL (04)*****02 PGU: TEL (07) *****21/4 BANK LINE (A mvk* >1 iUdrtw W>k Shipping)
      459 words
    • 1165 34 HMNEHYUN^^AERCHANTJWARINECOj^^D^^^^^^ [vessel lou jj rim anti m «v «5~l mm. wr sob ieh |iw act mm m n "W API AUMNMNE 304W 17/00 05/10 10/10 97/10 00/10 NOLAMA2OMIE 017T 74/01 29/00 20/00 27/01 TT/OO MAAS 525W 11/00 01/10 10/1 C 05/10 07/10 HYGBERAL 3IX M/ 00 01/00 17/01 29/00 10/00
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    • 827 34 Wy "I nor*+gian yrnatnid (MDoanin \sL», u Gmss TO NORTH AND LATIN AMERKA "Ro*o HEAYTUPT SERVICE* |VKSa VOY RAMP HBGHT SW 1 LAX IOH m lu» I w 1^ raw* 1 mo 6 6 S mm ?i/!! 04/11 hl M/,n w/n ]6/ ,5/n u/l1 TABnLrA IS? JiS 7 11/11 21/11
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  • Page 35 Advertisements
    • 879 35 ■AHOKOK/ MAP TA PHUT/ LAIM CHABAHO J AK A WTA/P A N J A WO VESSEL VOY SIN BKK MTP LCH VESSEL VOY SIN JKT PJN BAWI BHUM 118W In Pt 20/09 GURU BHUM 9SSB ~Tn Pt 20/09 RATHA BHUM 31N 19/09 23/09 22/09 DEJA BHUM 765S 19/09 23/09 MATHU
      879 words
    • 626 35 i. cosco SQ3CQFVU, fiOMMB $£BV>C€ (FCU/FCU EXPORT TO CHMA/HONG KONG EUROPC/COffTINENT AL EAST WEST MEDOERRANEAN AUSTRALIA AMERICA AFRICA US WEST/EAST COAST PERSIAN OOLF/KARACHI Please refer above mentioned services to China Ocean Shipping Co. Advertisement in Page S. CHINA/S-E-A, FVU. CONTAW6R «Mg VESSQ VOY FBI m SGP HKG QM MO FBI
      626 words
    • 1024 35 |!"ff I ■"> I »*> I L£H I HAM TMP I zee VH-LE D€ OEMXA H27W 22A» 3QTO 08/10 IjfjO 12/10 14/10 iviO V-LE DE D-OWOW V27W 28/08 07/10 12/10 18/10 IWIO ivio 2V«i ?3m~ V-LE 06 ftIUIQQA V2BW WO IVIO 18/10 2VIO 28/10 28/10 28/10 »10 VfILLE DC TANYA
      1,024 words
    • 22 35 CONVENTIONAL SERVICE COLOMBO BOMBAY MALE Accepting heavy lift Upto 45 tons ETA 21.09.98 FCL/LCL WEEKLY SAILING TO BANGKOK/HO CHI MMNfMONQ KONtVKBBOJN&CALCUTTA/ KAfUCWJAPAN/PURBAH*IMaWMdW/COU)MPO
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  • Page 36 Advertisements
    • 50 36 VaTil Dial 740-6000 on demand 1 —(Retrieve more schedules!) Press "1" J Select the port and key in the four digit code eg: To New York (NYQ 2275 aO Key in your fax number I your phone number Another Innovative service offered by The document Will be shipping times !laJt
      50 words


  • Page 38 Advertisements
    • 156 38 FREE Reader Enquiry Service g»< cut out and fax to: 65"*****29 BfflllliHiMllHlSßß 1: v!\ Need HELP or INFORMATION on the following? (please tick relevant boxes) SHIPPING SERVICES Port of Origin: Cargo Type: Cargo Ready by: Port of Destination: Cargo Volume: Special Requirements: ADVERTISERrPRODUCTS/SERVICES Saw an advertisement in Shipping Times of
      156 words

  • Page 39 Miscellaneous
    • 105 39 LEGEND R Thunderstorm Temperature c A^ V Shower Weather Wind dH-.ctKjn with speed in knots Rom Cloudy Sky Wov« height winds or. indicated by orrow, wfcich fly w.th Hm »md On. Ml orcl. represents cokn or kght ond vonoWe wmds On. ho* Heche represents 5 knot, W^Ji M^'T^ ,oknOfl represents
      105 words

  • Page 40 Advertisements
    • 71 40 HYUNDAI MERCHANT MARINE (S) PTE LTD have immediate vacancies for: Candidates must have Shipping experience in Liner Trade Self motivation Strong communication interpersonal skilk Preferably possess own vehicle Interestedfcpplicants are required to send in your detailed resume including current and expected salary, photograph and contact number to the following address
      71 words