The Business Times, 9 October 1998

Total Pages: 42
1 42 The Business Times
  • 13 1 85C MITA(P) 110/12/97 THE BUSINESS TIMES S INGAPORE Internet: http://business-times.asia!.com.sg/ FRIDAY, OCTOBER 9,1998
    13 words
  • 69 1 sn HUM (+29.39) piBT-SRI U 432JH (-i-21.i1) JIBTOOMP U 744.71 (+27.99) SQKSCI FUTURES ***** (+4.70) PMAIIETMOOPe HKsad it »:r STOCK HABXET INDICES Thursday Change KLSE COMP I71M >L» NIKKEI UjM-M 7HU HANGSENO 7J09M +IM.7I SET INDEX 2HJB +IU» JAKARTA OOMP _28&» -+HJ8 MANILA COMP +S7M TAIPEI WP! M7ta_+MU4
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  • 75 1 rata Bins US* St US* IMS £(US*/S*p«r£) L7W 1*11 DM 1.686 1.026 YEN ttt.4 L*47* RM IM 6.4*4 HO 7.748 Ifll BART S8w6S 164* RJPIAH 11M MW* 'St tolte mMt PUKE BATES SINGAPORE* 7.66 KUALA LUMPUR 11.80 JAKARTA MM BANGKOK 14.71 MANILA 2LM BONO BONG 10.26 turn AM SYDNEY
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  • 632 1  -  Market players tell of hedge fond* unwinding massive short yen positions By] Larry Wee [SINGAPORE] Panic buying of the yen in European trading sent the US dollar crashing by as much as 10.7 per cent to 111.3 yen last night before news
    Source: Bridge  -  632 words
  • 57 1 AFP [NEW YORK] Stocks were whipsawed yesterday on Wall Street with blue chips plunging amid fresh concerns about the US economy. After an early rally, the Dow Jones Industrials plunged by a thumping 270 points before retracing. By Ipm EDT the blue chip
    AFP  -  57 words
  • 542 1  -  Institutional, retail investors applaud proposed link-up By Wong Wei Kong (SINGAPORE] The Stock Exchange of Singapore and the Taiwan stock exchange are working on a link-up that will allow investors in both countries to trade stocks listed on the two
    542 words
  • 419 1  -  But oil majors face public pressure against increases By\ Christopher Tan [SINGAPORE] Oil companies here may have to raise their petrol prices yet despite mounting pressure for them to do quite the opposite. According to industry sources, posted prices which are dependent
    419 words
  • 218 1  -  By' Ven Sreenivasan [SINGAPORE] A strengthening of regional currencies gave another boost to Asian stock markets yesterday, with the Indonesian and Thai markets sparkling with gains of over 8 per cent. The Singapore Straits Times Index jumped 29.39 points, or 3.2 per cent, to close at
    218 words
  • 627 1 Conditions negative in corporate sector; business investment seen shrinking Bloomberg [NEW YORK] JP Morgan Securities, the securities unit of the fourth biggest bank in the US, has lowered its forecast for the US economy next year, saying it will lapse into
    Bloomberg; Source: Bloomberg  -  627 words
  • 556 1 LAT-WP [WASHINGTON] The International Monetary Fund disclosed an Important shift in policy on Wednesday that would allow countries facing "extreme" financial crises to halt all debt payments to foreigners temporarily with the IMF's blessing. Using language that marks a striking departure from
    LAT-WP  -  556 words
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    • 168 1 imnPß UK cats iatersst rates The Bank of England yesterday bowed to business and public pressure and cut interest rates by a quarter percentage point to 7.25%, P* 10 r t f sp lain ups't controls? Indonesia will soon impose export control measures to regulate the outflow of capital said
      168 words
    • 56 1 Yuan hits all-time high against US$ FuH report, Pg 4 Market reports, Pg 22-26 °0 O 1 1 WHO -IS BEHIND AN AUDEMARS PIGUET WATCH? I m m j /IIDBURS I'KiIKT \J' it maitrc dv I hariogerie dtrputs IH/S IK'tv.i! CJ.ik oiii t tion SINGACURtI PkIVAH LIMiTM'. > Boulrv.ifii ax
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    • 17 1 US Aug inventories rise fastest in 6 months, Pg 10 IMF/World Bank meeting. More reports, Pg 11
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  • SINGAPORE AT HOME & ABROAD
    • 465 2  -  Tender system done away with; eligible parties just need to apply for licences By] David Boey THE government has thrown open its doors to parties that want a licence to provide public Internet access in Singapore all they have to do is apply.
      465 words
    • 571 2  -  By I Catherine Ong FINNISH telecommunications giant Nokia opened its new regional office at Alexandra Technopark (ATP) amid much aplomb yesterday and pledged its commitment to continue using Singapore as a hub for its operations in South-east Asia. When fully operational in
      CHRIS LOH  -  571 words
    • 218 2  -  By i Christopher Tan (SINGAPORE! Up to onequarter of the 15,000 BMWs in Singapore could be affected by a factory recall on Wednesday. Marketing director Marc Singleton said 3,800 Beemers built between 1988 and 1994 were sold in Singapore,
      218 words
    • 387 2  -  LETTERS TO EDITOR Patrick Chia Singapore I AM in full support of the proposals put forward by Ms Ng Toh Lam's letter published in BT last Friday. Particularly urgent is the proposal for the government to buy back, at current prices, URA/HDB sites
      387 words
    • 198 2 ONE of three bungalows put on the market recently by tlye Australian government has been sold for $4.9 million, or about $324 per sq ft. Marketing agents Jones Lang Wootton said the price for the unit. No 8A Ewart
      198 words
    • 85 2  -  Tan Siew Teck Singapore via Internet I READ the articles In The Business Times (by Lee Han Shih on Tuesday and Pidemco Land's Hiew Yoon Khong's reply the next day) with interest. At the end of the day, by selling the put option, Pidemco is making a
      85 words
    • 629 2  -  He says cot could come as early as Jan or in March budget By I Carol Eng THE cut in the Central Provident Fund rate could occur as early as January, and it would save employers $4 billion in annual wage costs
      629 words
    • 253 2 A SCHEME to help small and medium enterprises (SMEs) reduce wastage, improve operations and cut costs was launched yesterday. At least $40 million will be invested in the National Cost of Quality (NCOQ) programme over the next five years to help 1,000 companies
      253 words
    • 319 2  -  EYE ON THE ECONOMY Bankruptcy Byt Corinne Kerk THE worsening economic climate has taken its toll, with a dramatic increase in the number of bankruptcy and company winding-up cases in the third quarter. Between July and September, a total of 1,176 bankruptcy petitions were filed
      Source:  -  319 words
    • 427 2  -  It aims to draw at least 2 new baying offices a year By. Annette Pan THE government wants to promote Singapore as an international procurement hub and hopes to draw at least two new buying offices to set up shop here
      427 words
  • Page 2 Advertisements
    • 39 2 Tax cuts being considered The Trade and Industry and Finance ministries are looking into tax cuts or rebates, and are likely to make an announcement within the next few weeks, according to Minister without Portfolio Lim Boon Heng yesterday.
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  • Page 3 Advertisements
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  • ASIA'S ECONOMIC SLUMP
    • 583 4  -  Expectations drive rnpiah to 5-month high of 9,000 to US$ Froml Shoeb Kagda in Jakarta INDONESIA will soon impose export control measures to regulate the outflow of capital, said a former cabinet minister who has close ties with government authorities. "It is
      Source: Bloomberg  -  583 words
    • 301 4  -  But it welcomes Danamodal pumping RM3.3b into banks From] Meera Tharmaratnam in Kuala Lumpur STANDARD Poor's said it viewed positively the recent action by Malaysian agency Danamodal to pump 3.3 billion Malaysian ringgit (Ssl.4 billion) into 10 Malaysian banks
      301 words
    • 390 4  -  Adverse impact on trade with E Asia will negate benefits from devaluation By, Audrey Tan [SINGAPORE] The adverse impact on China's trade with East Asia will more than cancel out any benefits from a devaluation of the yuan, says a study
      390 words
    • 497 4  -  Bnt gap between official and black market rates widens as curbs make greenback scarce By Lu Ning [SINGAPORE] Despite speculation about a yuan devaluation, a flush of liquidity following the official tightening of forex controls has pushed the Chinese
      Source: Bloomberg  -  497 words
    • 58 4 [HONGKONG] A man waiting for customers at a 300sq ft storage unitfor rent at a monthly fee Of HKfllB,ooo (5f25,087) in a shopping district here yesterday. The territory isfacing a severe downturn aggravated by the Asian financial turmoil with unemployment hitting 15-year highs and the
      REUTERS  -  58 words
    • 314 4 Bloomberg [KUALA LUMPUR] Malaysia posted its biggest trade surplus ever in August 6.3 billion Malaysian ringgit (5J2.7 billion) as the drop in its currency snuffed out demand for imported goods ranging from clothes to construction material such as
      Bloomberg  -  314 words
    • 292 4  -  Analysts say the fourth cut in two months not enough From Hariah Mehta in Bangkok IN a sustained trend towards lowering interest rates, Thailand's largest commercial bank, Bangkok Bank Ltd, yesterday reduced its lending rates by half a percentage point, but analysts said
      292 words
    • 155 4 Bloomberg [KUALA LUMPUR] Malaysia's central bank, Bank Negara, created this month a fifth assistant governor post, and promoted two top officials, in its biggest reshuffle of central bankers since 1994. The reshuffle also puts Bank Negara's internal audit committee directly under the central bank
      Bloomberg  -  155 words
  • Page 4 Advertisements
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  • SOUTH-EAST ASIA
    • 454 5  -  ASSAM ECONOMIC BOOSTERS' MKCTUIU Ministers also call for more bilateral payment agreements to cnt US$ demand From, Al Labita in Manila ASEAN economic ministers yesterday pledged to use their currencies in intra-regional trade payments to lessen dependence on the highly volatUe
      454 words
    • 273 5  -  LETTER TO EDITOR Hishammuddin Tun Hussein Acting head of Umno Youth UMNO Youth wishes to respond to your report (Oct 6, "IMF to seek Malaysian assurances on Anwar") that IMF chairman Michel Camdessus reportedly said that he thought "Anwar was a very good finance
      273 words
    • 235 5 JAKARTA Bloomberg THE number of unemployed people in Indonesia is likely to swell to 20 million by the end of the year, about a fifth of the country's workforce and more than twice the population of Sweden. The latest estimate, which is a
      Bloomberg  -  235 words
    • 240 5 SANUR, Bali FP INDONESIAN opposition figurehead Megawati Sukarnoputri opened a party congress attended by thousands of supporters here yesterday with a pledge of clean government if she was voted into power. "If the people in the next election trust PDI (the Indonesian Democracy
      FP; REUTERS  -  240 words
    • 368 5 KUALA LUMPUR Lawyers said to be denied access despite court's rating AFP THE wife of ousted Malaysian deputy premier Anwar Ibrahim said she filed a high court application yesterday seeking her husband's release from indefinite detention under the Internal Security Act
      AFP  -  368 words
  • Page 5 Advertisements
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  • CHINA-HONGKONG-TAIWAN
    • 313 6 BEIJING Analysts see move as confirmation of Jiang directive in Jnly Reuters CHINA'S powerful Central Military Commission has approved a controversial plan to force the nation's military out of business, citing concerns about rampant smuggling and corruption, state media
      Reuters  -  313 words
    • 140 6 HONGKONG Bridge News MULTILATERAL agencies firmly back the Hongkong Monetary Authority's (HKMA) call for longer tenors for forthcoming supranational bond issues, an HKMA spokeswoman said yesterday. The HKMA recently said it had sent letters to several agencies urging them to avoid
      Bridge News  -  140 words
    • 282 6 SHANGHAI Reuters BRITISH Prime Minister Tony Blair toured the Shanghai Stock Exchange yesterday, and witnessed the signing of a cooperation agreement between the London and Shanghai bourses. The accord renewed a previous memorandum of understanding signed between the two exchanges in March 1994, which helped
      Reuters; AFP  -  282 words
    • 464 6 BEIJING Exposing problems at these firms will raise cost of borrowing for Bering, say analysts Reuters AFTER shutting the bankrupt investment arm of Guangdong province, Beijing is set to bring down the axe on other troubled investment firms to try to head off
      Reuters  -  464 words
    • 239 6 BEIJING Reuters CHINA yesterday ruled out the possibility of forming a federation with Taiwan, arguing that reconciliation between the two rivals must adhere to the "one China" policy. "There has never been a federation or confederation in China," Foreign Ministry spokesman Zhu Bangzao told
      Reuters  -  239 words
    • 432 6  -  He goes on the defence after Legco blasts policy address Frvm, Loh Hoi Yin in Hongkong CHIEF executive Tung Cheehwa has stoutly defended his government's track record, after the public and Legislative Council (Legco) lambasted his policy address for its lack of major
      432 words
  • Page 6 Advertisements
    • 23 6 In the September/October issue of TLomJg^ZaPayXs^g^,^ I stops'' Published by Sing Tel Yellow Pages Pte Ltd Tel: 331 0827 Fax: 338 5213 j
      23 words
    • 309 6 Gttie's foreign creditors concerned, Pg 20 Sunday 11* October 1998,530 Bnn« ,W3.3* fkra at fSUNTEC CITY) NOTICE HIGH LEVEL TALK ON GLOBAL FINANCE MICRO ECONOMIC AFFLUENCE FOR TRADITIONAL MANUFACTURE COUNTRIES ENABLING FINANCIAL EQUILIBRIUM FOR THE MACRO ECONOMIES OF ORGANISED MACjgINCTACTITRE COUNTRIES FOCUSSING PRESSING NEED FOR GLOBAL MEDIA to pointedly inform
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    • 7 6 Editorial: Tung must inspire Hongkong, Pg 13
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  • ASIA
    • 439 7 TOKYO Apology settles the troubled history of the two neighbours: President Kim AFP JAPAN'S Prime Minister Keizo Obuchi yesterday expressed "deep remorse" in the first written government apology for the suffering inflicted by his country's colonial rule of Korea. The apology, including a
      AFP; REUTERS  -  439 words
    • 276 7 ■TOKYO Loans drawn from govt programmes, starting from Dec Bloomberg THE Export-Import Bank of Japan will extend loans of US$3 billion (554.9 billion) to South Korea to help the country out of its economic crisis, according to a joint declaration released by
      Bloomberg  -  276 words
    • 166 7 BOMBAY Bridge News INDIAN Finance Minister Yashwant Sinha yesterday said the government will go ahead with its programme to sell government shares in state-run firms at the pre vailing market prices and will not wait for conditions to improve in the stock markets, the
      Bridge News  -  166 words
    • 250 7 TOKYO AFP JAPAN will draw up plans to issue free shopping coupons in a bid to revive spending deflated by recession in the world's second largest economy, officials said yesterday. Each coupon could be worth up to 30,000 yen (Ss4o4) and will come
      AFP  -  250 words
    • Article, Illustration
      57 7 [SYDNEY] Lea Donnan (left) and Emma Price, dressed in period costumes, admiring the Fish Curtain by Norfork Island artist Margarita Sampson at the opening of the Sculpture By The Sea exhibition here yesterday. The exhibition by 94 artists is part of A Sea Change, the second of
      AFP  -  57 words
    • 322 7 CANBERRA Excluding food will cat revenue that will pay for tax cuts Bloomberg AUSTRALIAN Treasurer Peter Costello said the government's promise of big income tax cuts will be watered down if it is forced to remove food
      Bloomberg  -  322 words
    • 263 7 SEOUL AFP [SEOUL] North Korea yesterday demanded that the South Korean government stop "meddling" in an historic tourism project as the giant Hyundai group made plans to finalise details with the Stalinist state. Kim Yoon Kyu, leader of the Hyundai delegation,
      AFP  -  263 words
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  • REGION/WORLD
    • 633 10  -  Central bank bows to pressure, cutting interest rates by 1/4 percentage point Prom. Neil Behrmann in London THE London stock market slumped even though the Bank of England bowed to business and public pressure and cut interest rates by a
      AFP  -  633 words
    • 380 10 WASHINGTON AFP THE US Justice Department on Wednesday filed an antitrust suit charging that Visa and MasterCard, the country's two main credit card networks, are unfairly stifling competition. The suit contends that the Visa and MasterCard networks in the US acted illegally in
      AFP  -  380 words
    • 256 10 WASHINGTON Bloomberg INVENTORIES of goods at US wholesalers rose in August at the fastest pace in six months while sales slumped, Commerce Department figures showed. Wholesale inventories rose 0.9 per cent to US$2BO billion (Ss46l billion) in August after being unchanged at
      Bloomberg  -  256 words
    • 486 10 WASHINGTON 53% of Americans against impeachment hearings: poll AFP US lawmakers were scheduled to launch a process late yesterday to oust President Bill Clinton for his White House intern affair, casting a vote unpopular with most Americans and baffling to the rest of
      AFP  -  486 words
    • 279 10 MOSCOW Govt spending plans not enough to solve fuel, food shortages, warn lawmakers Bloomberg RUSSIAN legislators stepped up calls for President Boris Yeltsin's resignation and warned that government spending plans are insufficient to stave off fuel and food shortages in northern
      Bloomberg  -  279 words
    • 320 10 TOKYO Bloomberg WORLDWIDE microchip sales slumped for a sixth straight month in August as global oversupply continued to depress prices for memory chips and as demand in South-east Asia remained weak, industry figures showed. Microchip sales fell 15.7 per cent
      Bloomberg  -  320 words
  • Page 10 Advertisements

  • IMF/WORLD BANK MEETING
    • 486 11 Financiers admit little achievement save for a good brainstorm NYT AFP (WASHINGTON) The world's finance ministers and central bankers ended five days of debate on Wednesday with nothing approaching a strategy to lift global markets out of their downward spiral,
      NYT; AFP  -  486 words
    • 349 11 Plan to mobilise rich nations, private banks alongside IMF AFP [WASHINGTON] The IMF is to study a US proposal for an anti-crisis system that could bring industrial nations and private banks together to help countries threatened by financial turmoil, an IMF
      AFP  -  349 words
    • 235 11 Reuters [WASHINGTON] Bank of France Governor JeanClaude Trichet chided the US on Wednesday for having been too sceptical about the likely success of Europe's new single currency. Until very recently, most of America believed that plans to create a common currency, the
      Reuters  -  235 words
    • 108 11 AFP [WASHINGTON] Brazil and the IMF have reached a preliminary agreement on support for reforms to ease pressure on Brazil's economy, and an aid package could come soon, Finance Minister Pedro Malan said here yesterday. The agreement marks "an important step in the talks
      AFP  -  108 words
    • 367 11 AFP [WASHINGTON] Amid a backdrop of growing international pressure, the White House and Republican congressional leaders on Wedhesday debated a longstalled plan to provide US$lB billion (5529.7 billion) in new funding for the International Monetary Fund. Intensive discussions were being
      AFP  -  367 words
    • 35 11 [WASHINGTON] World Bank president James Wolfensohn (left) and IMF managing director Michel Camdessus chatting with World Bank employee Sonia Lee during a break at the IMF annual meeting on Wednesday. REUTERS
      REUTERS  -  35 words
    • 272 11 AFP [WASHINGTON] Russia said on Wednesday that international assistance remained "absolutely essential" to its recovery and said it was banking on help from its friends. Russian Finance Minister Mikhail Zadornov, in a speech prepared for the IMF/World Bank meeting, also complained that the
      AFP  -  272 words
  • Page 11 Advertisements
    • 187 11 THE Of SINGAPORE P SINGAPORE GOVERNMENT OFFERINQ OF TAXABLE BOOK-ENTRY BONDS TO THE PUBLICWWIMM AMOUNT OFFERED SGO9OOMIO ISSUE CODE N*****0A V ISSUE DATE 23 OCTOBER 1998 MATURITY DATE 15 OCTOBER 2005 INTEREST RATE TO BE DETERMINED BASED ON THE AVERAGE YIELD OF SUCCESSFUL APPLICATIONS PRICE TO BE DETERMINED AT THE
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  • Page 12 Advertisements
    • 493 12 When the answers seem to be worlds away...Call Us t•, r I OUR INTERNATIONAL energy experts are Taweelah A 2, the first and largest, privatibringing energy to the people of Asia and sation of a 710 MW power plant and 50 Australia by providing "one-stop solutions" MIGD desalination facility in
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  • EDITORIAL & OPINION
    • 725 13  -  THE BOTTOMLIKE OPINION By Bob Herbert The writer is a New York Times columnist NYT EVEN as we overdose on the coverage of the frenzied, sex-based madness in Washington, the tragic subjugation of nearly the entire female population of Afghanistan goes scarcely noticed Consider
      NYT  -  725 words
    • 142 13 "In this risk-averse environment, people are just getting out All the people selling today believe the dollar should go up against the yen, but they can't tolerate the loss.' -Avinuh Pernod the global head of currency research atJP Morgan Securities in London, on the dramatic fall of
      142 words
    • 637 13 EDITORIAL THERE seems to be a big sense of disappointment with Tung Chee-hwa's second policy address as the chief executive of Hongkong. Surely, this is. an overreaction. ft Granted, Mr Tung offered no magic tonic in Wednesday's speech to his fellow 6.6 million Hongkongers who are
      637 words
    • 1172 13  -  The US House of Representatives votes to impeach the president bat Senate might not agree By\ Leon Hadar The writer is BT's Washington correspondent FOR the second time this century, the US House of Representatives is launching impeachment proceedings against a president, a
      FILE PHOTO  -  1,172 words
    • 944 13 LAST spring, Speaker Newt Gingrich and other Republican leaders in the US House of Representatives promised representatives from the Christian Coalition that Congress would end what the conservatives call partial-birth abortion, eliminate financing for the National Endowment for the Arts and work for a constitutional amendment
      944 words

  • EXECUTIVE LIFESTYLE
    • 1038 14  -  Familiar characters who draw readers back to the same authors novel after novel after novel spell bliss for publishers. martzkaanou> reports MARTIN ARNOLD NYT PEW things bring a merry heart to a fiction publisher quicker than the coming of a character who will endure in novel after novel
      NYT; FILE PHOTO  -  1,038 words
    • 192 14  -  LETTER TO THE EDITOR G H Tan Singapore (via the Interne!) TEN marks to Jaime Ee for telling it like it is (Off the Cuff. BT, Oct 3)! Enough has been said about the realism of the movie Saving Private Ryan, and the contributions it
      192 words
  • Page 14 Advertisements
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      949 words
    • 435 14 Th« Advisory Rrm KPMGSeminarSeries Seminar on Fund Management and Unit Trust Industry 28 October 1998, Orchard Hotel Singapore Why attend: The fund management and unit trust industry in Singapore is going through an evolution. Participants of die ""f™ will: have an update of recent regulatory changes fain patg insight tntn
      435 words

  • Page 15 Advertisements
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    • 149 15 CAfpE <£& L'E'UTL 1 Daily A La-Carte menu. —Western and local (T~ /V favourites chefs fe; Mai -in speciality top selling f m Hainanese Chicken Rice, Nasi Goreng Istimewa, etc. Function Room available for private parties, company dinner and dance, conference, seminar and meeting. Contact F B Department at ext.
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    • 155 15 Buy It Sell It. Find It Classified fWf Call Today For Results Tomorrow. CATS Fesnvo^ofLighrs 17 A ISOpTOER 1998 7.00p0j 12.00 cnti Special Buffet Dinner at the BANC MAHAL RESTAURANT iOWflViWfVa (Adult) *13+++ roww below 12) Feast on a wide variety of North Indian cuisine from on.e of the best
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  • Page 15 Miscellaneous
    • 868 15 TV&RADIO hwdmU 7.00 News 5At Seven. 0.00 Klab Klip. ||,uj o-»a dm tu r~ 7 30 Property Watch (In- 6.30 Uravugal. Jon If iH 7 Qo c vestment In Property). 7.00 Window To India. jMJMLMISI&fu* Sesame 8.00 When The Befl Rings 740 Tain U Sethi (News, T). ISHMP ■aa Thl
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    • 149 15 CRYPTIC CROSSWORD ACROSS 16 Greek satirist's uncial form? 17 Circus performer given Teleeminence (10) B s,r^ uceeiectric,,>on YEsrrERDAT^B LuTioN of transport (10) Agent s oßlce maklng Mh l i IdlHlslftkil, leItIV vow* profit (io) HBPmiKfflTrakßSlP 12 Arsenal chief a principal her- [wWpWrjWp^fTrLJ^UTMTi 1 Top player said to surrender aid? (4-2-4)
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  • THE LEADING EDGE
    • 1445 16  -  John Chua, president of the Singapore American Business Association, helps Singapore firms network in the US, reports rajuchellam RAJU CHELLAM HE has a disarming smile that hides an intensely incisive mind. He climbs mountains and scuba dives during breaks from work in Silicon Valley. He
      PHOTOS BY CHRIS LOH  -  1,445 words
    • 378 16 (SINGAPORE] The Singapore American Business Association (Saba) was set up in 1991 in San Francisco to promote business between US and Singapore companies. The non-profit association helps both American and Singaporean businesses create and expand marketing and technical opportunities, develop business contacts and networks, and offers
      378 words
  • Page 16 Advertisements

  • COMPANIES & MARKETS
    • 573 17  -  CMS Energy Corp, with assets of USslob, operates in 21 countries By Conrad Raj THE Keppel Group, through subsidiary Keppel Fels, is teaming up with US multinational CMS Energy Corporation (CMS) to bid for a stake in the
      573 words
    • 394 17  -  MEW LISTINGS By. Jennifer Lien [SINGAPORE] Homegrown electronics group Ultro Technologies yesterday launched its initial public offer of 36 million new shares at 25 cents each. Only 10 per cent, or 3.6 million shares, of the total float is
      394 words
    • 196 17 [SINGAPORE] Small investors who applied between one and nine lots in PSL Holdings' public offer 1,000 to 9,000 shares will get 31.2 per cent of the shares. Big investors who sought 500,000 shares or more will get 10.24 per cent of the
      196 words
    • 649 17  - Ardmore Park: answer soon 1 on number of defaults HOCK LOCK SIEW Lee Han Shih MYSTERY in the property market is how many buyAM ers of Ardmore Park have 1 on their pay- In an indirect manner, the Stock Exchange of Singapore's listing manual could soon help to provide the
      649 words
    • 306 17  -  By, Annette Pan [SINGAPORE] Electronics component maker Spindex Precision Engineering yesterday said it had received the go-ahead from the Stock Exchange of Singapore for a second-board listing. But it did not give details of the issue. A Bloomberg report, however, quoted its managing director
      306 words
    • 394 17  -  Almost $100 m traded on 3 Indon-linked stocks in past week By Louis Beckerilng [SINGAPORE] Three Indone-sian-linked counters Van der Horst, L&M Group and Transmarco held their grip on market interest yesterday even as the stock exchange probed the companies for explanations to their runaway
      394 words
    • REGIONAL COMPANIES
      • 645 18  -  Infrastructure group scheduled to hold a press conference this morning From Eddie Toh Ruth Wong in Kuala Lumpur PUBLICITY-shy tycoon Halim Saad is expected to end up owning a smaller Renong group in a complex restructuring exercise to shave its
        645 words
      • 1039 18  -  Further asset deflation means no reprieve ahead From< Quak Hiang Whai in Hongkong GROUP net earnings for Hongkong blue chip companies in the first six months of this year are down 30 per cent, and analysts do not see any improvement
        1,039 words
      • 190 18 Bloomberg [KUALA LUMPUR] Malayan Banking Bhd, Malaysia's biggest bank, has cut its key lending rate for the seventh time in three months. The government has been goading banks to cut rates in a bid to ease borrowing costs for recession-hit companies. Maybank lowered its
        Bloomberg  -  190 words
      • 356 18  -  By\ Shiv Taneja [SINGAPORE] A month after it suspended its Malaysian unit trust, DBS Asset Management said yesterday it was closing the Shenton Malaysia Growth Fund, and would "pay out as much of the fund's asset as was possible without further delay". It said
        356 words
      • 153 18 Bloomberg [WELLINGTON] Thistle Hotels pic, the UK's third-largest hotel operator, will pay out £93 million (Ss26l million) to shareholders oif its books on Nov 6 in the first stage of an £185 million capital return. The capital restructuring, which was announced last month, follows
        Bloomberg  -  153 words
      • 267 18 [SINGAPORE] Neptune Orient Lines yesterday clarified that it has not entered into any discussion to sell a minority stake in American shipping line APL Ltd which it acquired last year, nor has it rejected an offer because it could
        267 words
      • 83 18 [TOKYO] Journalists checking out the new mini-car "Ljfe" of Japan's Honda Motor, which meets Japanese new mini-car standards that came into effect on Oct 1, at a Tokyo hotel yesterday. The new car's collision safety qualities are exceptional, surpassing Japanese domestic safety requirements to provide world-leading safety
        AFP  -  83 words
      • 390 18  -  Offer is for first-time buyers of private property only By] Diana Oon [SINGAPORE] City Developments Ltd (CDL) is re-launch-ing the last 35 units in its 120unit Chantilly Rise at an average price of $548 per sq ft almost 24 per cent below
        390 words
      • 283 18 Dow Jones [HONGKONG] With competition already Fierce and recent sales poor, beleaguered Asian computer manufacturers now have to deal with a new challenge: direct sales from American powerhouses. Over the last two years, the leading direct sellers of computers in the
        Dow Jones  -  283 words
    • INTERNATIONAL COMPANIES
      • 355 19 Losses at Salomon, ffrwffinn HAfliingg take toll, but 1999 outlook rosier Bloomberg [NEW YORK] Citigroup, formed yesterday by the U5537.4 billion (5561.6 billion) merger of Travelers Group Inc and Citicorp, said losses in global markets are expected to drive third-quar-ter earnings down
        Bloomberg  -  355 words
      • 267 19 Bloomberg [SEATTLE] Amazon.com Inc, the No 1 online bookseller, plunged as much as 16 per cent after Bertelsmann AG of Germany said it will join forces with Barnes Noble Inc to create a major new Internet bookselling competitor. Bertelsmann, the largest publisher of English-lan-guage books, and
        Bloomberg  -  267 words
      • 233 19 AFP [LONDON] England's Football Association (FA) have said the proposed billion dollar bid by BSkyß to take over Manchester United is not welcome, according to the Daily Telegraph. The Office of Fair Trading (OFT), the organisation which monitors company takeovers, has already said it will
        AFP  -  233 words
      • 294 19 Bloomberg [WILMINGTON, Delaware] Walt Disney Co persuaded a Delaware judge to throw out a lawsuit over former president Michael Ovitz's estimated US$l4O million (*****.7 million) severance package because unhappy shareholders failed to prove it was a waste of corporate assets. Delaware chief chancery
        Bloomberg; PILE PHOTO  -  294 words
      • 459 19 Yahoo! Q3 profits skyrocket to 16.7 m, analysts blown away Revenue triples on solid advertising, Bloomberg [SANTA CLARA, California] Yahoo! Inc's third-quarter earnings topped analysts' expectations as the No 1 Internet directory's revenue tripled from advertising and electronic-commerce agreements. Profit surged to US$l6.7 million (5527.5 million), or 15 US cents
        Bloomberg  -  459 words
    • FINANCE & COMMODITIES
      • 512 20 Central bank's plan for settling failed investment corp's debts lacks details Bridge News Bloomberg [SHANGHAI] Foreign banks who were creditors to the now-defunct Guangdong International Trust and Investment Corp (Gitic) are worried about receiving fair compensation for their claims, banking sources told Bridge News.
        Bridge News; Bloomberg  -  512 words
      • 344 20  -  The two credit card giants operate under different roles here compared to the US By < Clarissa Tan [SINGAPORE] An anti-trust lawsuit in the US, charging that Visa and MasterCard are unfairly stifling competition, is unlikely to have a significant impact
        344 words
      • 463 20 Bloomberg [WASHINGTON] HSBC Holdings pic will consider acquisition opportunities in some "difficult" markets, in keeping with its history of buying distressed banks at low prices, chairman John Bond said in an interview on Wednesday. Mr Bond, in Washington for the annual meeting of
        Bloomberg  -  463 words
      • 361 20 Bloomberg (TOKYO] Nomura Securities, Japan's biggest broker, plans to reduce proprietary trading and expand investment banking at its US unit, amid losses at what had been its most profitable US businesses, Nomura's president and CEO Junichi Ujiie said. The firm hopes to
        Bloomberg  -  361 words
      • 104 20 Bridge News [SHANGHAI] Standard Chartered Bank, incorporated and listed in the UK, will receive a licence to open a Beijing branch, Chinese Premier Zhu Rongji told British Prime Minister Tony Blair, the bank said yesterday. It has already applied for a licence to open a
        Bridge News  -  104 words
      • 244 20  -  SIMTflf Report MSaSbworeMa Jardine Fleming THE losses of almost all of the previous day's gains for the Japanese stockmarket were shrugged off by the MSCI Singapore Index which opened on its low of the day and rallied throughout the session to a high of 147.00 in
        244 words
      • 186 20  -  MBCHUwuMm Refico Singapore THE Simex MSCI Taiwan Stock Index futures surged yesterday on the back of a firmer New Taiwan dollar. Investors believed that money wUI flow to the Taiwan equity market from the US dollar deposits, as the New Taiwan doUar has gained
        186 words
      • 232 20 ENERGY REPORT Reuters [LONDON] OU producers took another blow to the chin yesterday as prices slipped again, despite new evidence that targeted output cuts have been met in (UIL The West's energy thinktank, the International Energy Agency, warned that lasting oil
        Reuters  -  232 words
      • 268 20 AFX Asia AFP THE US dollar extended its recovery against the yen, having found temporary support on talk that US Federal Reserve had been checking rates, dealers said. Earlier the Fed declined to comment on whether it had been active in the currency market. One trader, however, said
        AFX Asia; AFP  -  268 words
      • Article, Illustration
        282 20 MTBRBW *****5 UW oas i B fflC. yttonm Nr vt MM 1VX .*M > >1tl IV* ;5«U| 05 1 mm 7*» 5WJ2 IW llMi' iy» 57/* 2MM 5V4 5 W y iMi safe SM rv* sam 4MW 5V» SM«R 4»/M 4*32 1' j r'v. l.* r I ifi M SfiE.
        282 words
    • 1654 21 SICOM ruTumBS Oct 8 ■MO(Mvm ctottag «t SJOpa) mico«TucT<s«**i> oom om Wf LjW Sttt iXmmt) Mtrtrt >•"* 121.50 X 025 122.50 1600 123.50 425 **•9 125.00 650 W 126.25 150 Apr/*) 99 130.00 130.00 129.75 ISO 2100 133.75 150 0ct/8«c 99 ***** tSS 3 CONTtACT (US cMbAt) VoiMM
      1,654 words
    • 2207 21 LOWDO# fcll Nata 3)0 rau* 4*5.000 4.000 UNrtl 267.000 2.000 AMayNatianat 942.000 -V4.000 AIM Damacq 414.000 -***** Amac *****0 -3.000 As4a Graup 147 400 *2400 WTM 490.000 -20.000 *0«r 374.200 -13.400 •ICC 40.000 -2X00 ■OC Graup 715.000 -10.000 MMrilm >24.000 -***** m» 100.000 -3.400 MKteMM 517.000 -2.000
      2,207 words
    • 1596 21 Bloomberg Q Nikkei 225 -7*56 JAPAN'S key stock index took its steepest tumble in more than seven years, surrendering Wednesday's gains, after the yen's biggest rally in a generation threatened profits at Honda Motor Co and other exporters. Honda and Sony Corp headed a retreat led by carmakers and
      Bloomberg  -  1,596 words
    • Article, Illustration
      1470 22 Reuters AFP Q Hang Seng +104.79 STOCKS marched to a higher close yesterday with property counters in the vanguard, inspired by a powerful rally in the Japanese yen and lower local interbank rates, brokers said. The Hang Seng Index gained 194.79 points, or 2.52 per cent, to finish at
      Reuters; AFP  -  1,470 words
    • Article, Illustration
      605 22 Reuters n Shenzhen B Index +0.40 SHENZHEN'S hard currency B shares ended higher yesterday, pushed up in slim trade by demand from domestic individual investors, analysts said. The B Index climbed 0.40 of a point to 64.79 on turnover of HK$7.9 million. "Today's trade was almost purely retail activity,"
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  605 words
    • 345 22 AFP gWPMg ♦M&34 SHARES surged 4.4 per cent yesterday in active trading paced by financial issues on the back of a strengthening local currency, dealers said. The Weighted Price Index gained 295.34 points to 6,970.23. "Investors engaged in crazy buying after sharp gains of the local currency and the
      AFP  -  345 words
    • 247 22 AFP Q Wellington *13.73 NEW Zealand stocks closed up 0.8 per cent yesterday, buoyed by a firmer New Zealand dollar, lower wholesale Interest rates and the stronger Japanese market. The NZSE-40 Index was up 13.73 points to 1,729.61 on turnover of NZ$94 million. Brierley Investments rose one cent to
      AFP  -  247 words
    • Article, Illustration
      768 22 AFP F1 SET Index +jjJI INVESTORS rushed into Thailand's volatile market yesterday forcing it up 8.4 per cent on expectations of an improvement in the Thai economy and a stable currency. But the rally, which pushed the ailing Bangkok bourse to its highest level since July this year, was
      AFP  -  768 words
    • 404 22 AFP Composite Index -&17 SOUTH Korean shares fell 2.6 per cent yesterday, with fu-tures-led selling offseting early gains, dealers said. Foreign institutional investors may have prompted heavy selling on the spot market just before the close in a bid to take maximum gains on the expired options market, they
      AFP  -  404 words
    • 562 22 AFP PinOrftyuriai -3IJ AUSTRALIAN share prices closed 1.5 per cent lower yesterday in line with falls on the Tokyo market, brokers said. The All Ordinaries Index closed down 36.9 points to 2,503.3. The All Industrials Index dipped 75.9 points to 4,346 while the All Resources Index slipped 3.2 points
      AFP  -  562 words
    • Article, Illustration
      706 22 AFP +2138 INDONESIAN shares surged 8.4 per cent yesterday on a firmer rupiah and a further reduction of central Bank Indonesia certificate (SBI) rates, dealers said. "I am still wondering if the rupiah's gain is enough reason to buy stocks. But it seems to me that market sentiment was
      AFP  -  706 words
    • 301 22 AFP Q Manila +37.66 PHILIPPINE share prices rose 3.1 per cent yesterday due to favourable economic signs from Japan and the strengthening of the yen, analysts said. The Composite Index rose 37.66 points to close at 1,250.41 points. Volume rose to 457 million shares worth 1.354 million pesos.—AFP MonMo
      AFP  -  301 words
    • KUALA LUMPUR STOCK MARKET
      • 390 23 AFP 11 Composite Index +2.09 MALAYSIAN share prices ended 0.5 per cent higher yesterday with trading hardly influenced by news that Malaysia posted its 10th trade surplus in a row in August. The Composite Index ended 2.09 points higher to close at 372.99.
        AFP  -  390 words
      • 8028 23 CwMMf prefects It* LMt Vai Day Net cap W0 LPW Wl 'POO HHI> Lew W twl 310 170 Ajinamoto 209 11.3 83.1 MS 35 >n«uu 52 -2 58 53 52 74.7 290 123 ApoMo Food HVg 195 -1 5 195 192 6.8 78.0 388 108 6er>aya Land 129 -2 275
        8,028 words
    • WARRANTS & OPTIONS
      • 2253 24 BONDS, LOANS i VAMANTS wt La*t Val Day LMt Oust* Ayq High Lh StiM Company Sal* *ar- COOO) High Law Buyar Sailor Prtca 20.5 3 3140 *Acar ******1 US$ ■> tOO 4 3 3 4.5 95 4.5 3164 Acma *0)0724 5.5 unch 13 5.5 5.5 5.5 6 5 3161 AIITach
        2,253 words
      • 220 24  -  WARRANT WATCH Byy Ven Sreenivasan THE Keppel Land warrant was one of the most active counters on the local bourse yesterday, with 6.8 million units changing hands before it closed with a threecent or 19.4 per cent gain to 18.5 cents. The
        220 words
      • 222 24 NOMtKOM STOCKS Of Or 1990 Last V* Day UM«Hte M M» W M MC4» Hmi L— »tw Cim>—y H» COOP) Lmm Oiiyar U*m fw PX I— 400 2SO il23 COL(2000)HK 400 WO 400 *0 ».a >a >ftf TTA»T 5124 Cathay Pac 20c HK—720 2*5.0 2.1 1A 4.0 *****.4
        222 words
    • 6193 25 Transaction date: Oct 8 v*%_. »H. c«^, y a? a MUiTI —MITiY lis s s ":^^fe===s 77 5 535 53 54 275 to2 38 '80 7*0 W 0 74 70 65 74 S 350 23 SO '25 m C0rp 130 5 12 »S '30
      6,193 words
    • 1084 25 «w uS COOP) C? fit *3 pj£ MANUfACTWMNO 243 30 2049 AS AutotOc 65.5 -1 719 67 63.5 65 65.5 15.0K 7.0 2.3 6-2 745 65 ■2 47 2051 AS J Hidgs 20c 46 »1 1 46 46 40 50 2.5 102 10 92 432 46 260 85 t
      1,084 words
    • STOCK EXCHANGE OF SINGAPORE
      • Article, Illustration
        302 26 mnmsmmmm Stacks Volmt Van dec Horst 38,463,000 Kepp«l Land 50c 16,932,000 Keppel Corp 11,013,000 DBS Land 10,869,000 ST Engg K)c 10,344,000 HM50C 8,439,000 NatSteel 50c 7,613,000 Asia FoodiProp 7,453.000 Keppd landWOO 6,792,000 OUB Foreign. 6.758,000 Stacks SIA Foreign 30,819,305 Keppei Corp 24,463,363 SPH 23,359,461 City Da* 50c 23,295.780 DBS Foreign
        302 words
      • 656 26  -  STOCK MARKET COMMENTARY More banks expected to follow UOB's prime lending rate cat; Indon-linked counters still in play despite poor fundamentals By Ven Sreenivasan [SINGAPORE] Stocks yesterday extended their gains to close at a twomonth high, buoyed by stronger regional currencies
        656 words
      • ON THE GRAPEVINE
        • 33 26 SINGAPORE Telecom's president BG Lee upon him Yesterday, when the tape gracefully avoided upstaging his host, Nokia, at the opening of the Finnish wuldn't. resist responding to the
          33 words
        • 29 26 ABOUT one year after twqurtAlßGovett Browning has jotned Tempteton Asset gftftprsl Graeff, who quit rather suddenly a ffew marketing business for Tempteton from here. A &'/•<:
          29 words
        • 90 26 WHAT better way to celebrate Deepavalt, the Indian festival of lights, than with an Indian beverage. So Coca-Cola to bringing to Singapore India's moat popular carbonated drinks, Thums Up and Limca, the subcontinent's number one lemon-flavoured soft <frink. The Coca-Cola Company, producer of the world's leading
          90 words
        • 109 26 WHILE Hongkong** democratic legislators are giving the Hoag Kong Monetary Authority (HKMA) a hard time over ita market intervention. American financier George Soros was quoted by the Hongkong and Chinese press as saying on Monday that he was not against the Hongkong government's intervention. Mr Soros, whose
          109 words
      • Article, Illustration
        65 26  -  -uy! Shiv Taneja HOTEL Properties closed two-and-a-half cents higher yesterday at 41.5 cents on a volume of 2.76 million shares, more than two-and-a-half times higher than its 10-day traded average of one million shares, in the near term, the counter will trade in a tight range around its
        65 words
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    • 54 17 XJTK. PROPERTY FINANCE FROM SINGAPORE. For further information, please contact either Joyce Tan, Eileen Tan or Amy Wee at Tel: (65) 225 1233 and Fax: (65) 225 8013 Highly Competitive Interest Rate Fast and Convenient Service Flexible Loan Package Pre-purchase Approval The Royal Bank a* of Scotland pic Six Battery
      54 words


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    • 53 20 uU iA THE WORLD'S LEADING 1 OFFSHORE COMPANY AND TAX PLANNING SPECIALISTS 1 m i Incorporation Fpps from USSSOO Jkf J BAHAMAS JERSEY BRITISH VIRGIN a MAURITIUS ISIANOS 3 SFYCHFIIFS 2« C AV MAN ISI ANDS SAMOA wjT IRFI AND Visit OCRA s definitive Offshore Companies Web Site at www
      53 words
    • 9 20 Tuesdays Th« Property Coluna by Lee Han Shih TheßusinessTimes
      9 words


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    • 124 22 At Montblanc Paragon, you can now select an ink colour no one else can match. Simply JT W mix the different colours until you find one which m your true personality. Then take I M 7 f a home in a unique ink bottle at 20% less. For ink JL
      124 words



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    • 363 26 [business^ IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 ANO IN THE MATTER OF DESTEC ENERGY (ASIA) PTE LTD ON LIQUIDATION) Extract of the Minutes of an Extraordinary General Meeting signed by the Representative of Holding Company relating to Proceedings of Subsidiary Company pursuant to Section 179(6) of the
      363 words
    • 519 26 rfiJHE MATTER OF THE COMPAMES ACT, CAP. SO ANO M THE MATTER OF J CORP NTERNATIONAL (S) PTE LTD (In Members' Voluntary Uquldetlon) NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the members of tfieabovenamed Company duly convened and held at 87 Waters Ova. Osborne Parle. Penh Western Australia
      519 words
    • 543 26 IN THE HATTER OF THE COHPANIES ACT (CHATTER SO) r ANO IH THE HATTER OF NANCY ROACH GALLERY FTE LTD (IN VOLUNTARY LIQUIDATION) MEMBERS' VOLUNTARY WIND-UP Node* it hereby *ven (hat (he Crxfcoo of th« >bo»en»med Company which It bmrm yotunw «y "P. *e required, on or before the I
      543 words
    • 476 26 IN THE MATTER OF THE COMPANIES ACT, CAP SO AND IN THE MATTER OF THV TECH CENTRE PTE LTD (In Members Voluntary Windtog-Up) SPECIAL RESOLUTIONS MSSEDTMS ON 9THOW OF SEPTEMBER 1988 At an Extraordinary General Meeting of the Company held at 100 Beach Road #25-06 Shaw Tower* Singapore *****2 on
      476 words
    • 573 26 M THE MATTER OF THi COMPANIES ACT, CAP. *0 and M THE MATTER OF DAIWA MERCHANT BANK (SINGAPORE) UNITED (In Members' Voluntary !!■<<—on) NOTICE OF RESOUUrtONS At an Extraordtoary Ganaral Mealing of tie members of tie abovenamad Compimy duly convened and held at 2-1. BmgoMachi. 2-Chome. Chuo-ku. Oeafca 541, Japan
      573 words
    • 426 26 IN THE MATTER Of THE COMPANIES ACT, CAP. SO AND IN THE MATTER OF POSfl INVESTMENT PRIVATE UNITED (In Metwbsis' Voluntary Liquidation) NOTICE OF SPECIAL AND ORDINARY RESOLUTIONS [Pursuant to Section 290(2)(b» At an Extraordinary Ganaral Mating of tha Company haW at 73 Bras Basah Road •06-00 POSB Cantra. Singapore
      426 words
    • 518 26 NOTICE TO CREDITORS AND CONTOBUTORS OF INTENTION TO Amy FOR RELEASE YW SON CONSTRUCTION FTC LTD COMMUNES WMDfNO UP NO. 237 OF t®4 Take notice thai I, t» undersigned Liquidator of tiieabuwaiiientioned Company, intend to apply to the Court tor my ratoaae, dissolution of the Company intersection 275 and destruction
      518 words

  • SHIPPING TIMES
    • 320 27 Bridge News Reuters TANKEB& Activity stepped up for the big ships from the Persian Gulf with rates on shipments to the east and west still hovering in the low worldscale 50s while Japan discharge remains atwsss. It emerged that Vela booked in the Skyros for an Oct 25,310,000
      Bridge News; Reuters  -  320 words
    • 269 27 Oct! ttt CWT Dtotrtbutton.. 0.269 -0.0* 99 Chum Hup 0.3S *001 IM Cmco lnv*ttm*nt 0.39 unch 12 PrafaMUnfc* 0.55 unch 850 08 HoMlngs C2' <-0.005 2 Hal Sun Hup 0.295 -0.01 272 HMMMZOMM OS* *001 M tMCHoMnQ* HKS.6 J*ya Hoidbig* 0.425 unch 13 Jurong Shipyard 6.40 *0.15 376
      269 words
    • 593 27  -  US classifier buffered from Asian crisis by high level of shipbuilding activity By Felix Chan [SINGAPORE] Buoyed by the recent flurry of newbuilding activity in the region, the American Bureau of Shipping (ABS) said it has been relatively unaffected by the
      593 words
    • 126 27 Bloomberg [OSLO] Bergesen, Norway's largest shipping company, said it paid about US$B.B million (5514.7 million) to raise its capital stake in Kvaerner, Europe's largest shipbuilder, to 15.9 per cent from 14.24 per cent. Bergesen bought 723,300 Class A shares at an average price
      Bloomberg  -  126 words
    • 800 27  -  ADMIRALTY CASEBOOK I By! Selva Kumar THE Court of Appeal in England has quashed the decision of a lower court which had ordered a local council to pay damages of £620,000 (SSI.7 million) to a boy who was seriously
      800 words
    • 169 27 [SINGAPORE] Locally-based Coastline Maritime is taking delivery of the second in a series of two cable-laying ships it has jointly built with Pan United Shipyard. Both vessels were built for French investment company Maurel et Prom. The second vessel, built at Pan United's
      169 words
    • 267 27 About 20% of agents not licensed, causing govt to lose major source of revenue AFP [SHANGHAI] China is launching a crackdown to wipe out a plague of unlicensed international shipping agents operating in the country, the Business News quoted Vice Trade Minister
      AFP  -  267 words
    • 186 27 Bernama [KUALA LUMPUR] Prime Minister Dr Mahathir Mohamad will chair a dialogue on the use of local ports, particularly Port Klang, to make them successful load centres. Transport Minister Dr Ling Liong Sik said that the dialogue would involve representatives of
      Bernama  -  186 words
    • 1067 28 PREMUDA SHIPPING CO In a market with ups and downs, a shipowner must pay increasing attention to the financial aspects of business Surveyor SHIPPING is above all a financial business, says Dr Alcide Ezio Rosina, managing director of Italian shipping company Premuda Shipping. "The shipowner has
      Surveyor; FILE PHOTO  -  1,067 words
    • 356 28 PAGE ESP Lines 14 AA M/time 12 Evergreen 6 ANL 3 Express TI 13 It Accord 8 Ahrenkiel 12 Frota Appefiship S Frt Links M It Astro 3 6L Austral 8 GwMrtr 8 A»ant 14 Genshgp 12 Btang Mas 8 Gk y Hn M .or. HaiSunHup 8
      356 words
    • 18081 35 THEBUSINESSTIMES THEBUSINESSTIMES EXPORT ETA ETA Advertiser Vessel Voyage Telephone ETA ETA Advertiser Vessel Voyage Telephone S.N Oest'n Name Name Number Number sin Dest n Nam* Name Number Number 21/10 16/11 Evergreen E. GOVERN 0253-073W 65-392mi To ABIDJAN (ABJ) 2003 Cote D'lvoire 21/10 */n nyk ise oms 65-2****** H/10
      18,081 words
    • SHIPS IN PORT
      • 854 41 Vassal Voy No B«rth Arrival Departure Jrm Port Auk* Sefaya 3798 J02 Hongvoe 08 )0/2000 toy Sisters 19 jn Hongs* 0910/M00 IrigM CarD U J22 Hongs* 0610/1700 8tP*N079S 02(096 J01 Hongs* 04 10/2330 NNT* *****6 J01 JKXKJW* 0910/0900 R Mo I *****8 J01 Hongsid* 0910/0200 M M 4321
        854 words
      • 1871 41 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Boofcbiq/Btlancc Rstls Ship Voy No Etb/Btr P»rlod From To From Abu Mutt C002W 11/0600 M 04/1500 08/1659 04/1900 it 04/1500 08/1659 06/1900 a 08/1700 09/0659 09/0*00 2t 04/1700 09/0659 09/0900 3 09/0700 09/1159 09/1400 4 09/1200 09/1459 09/T700 to Mr
        1,871 words
      • 193 41 Oct 10 Japan: Sport "s Day. Taiwan: Double Tenth National Day. Oct 12 Canada: Thanksgiving Day. Mexico: Columbus Day (optional). Spain: Natinal Day. United States: Columbus Day. Oct 19 Malaysia: Deepavali. Singapore: Deepavali. Oct 23 Thailand: Chulalongkorn Day. Oct 26 Austria: National Day. Ireland Republic Of: October Holiday.
        193 words
      • 1052 41 THIS report, compiled by Cockett Marine Oil Ltd. shows price ranees in US dollars instead of single prices for a more comprehensive description of the market Prices shown are baaed on averaae-siaed stem Market movements are indicated The Cockett Bun ker Price Index change and the
        1,052 words
      • 499 41 Oct 1 Density Wat* Residue As* Aluminium Sediment No above E25 1 4 12 3 3 0 380 Ave 987.6 0J 16.0 0.07 28 0.03' Exxon 380 Mai 996.0 0.9 19.8 0.12 154 0.11 WM'3 v/v M/M m/m mi —ma Wo above 635 W 0 13
        499 words
    • AIR & LAND TRANSPORT NEWS
      • 520 42 Washington to hold Oct 26 hearings on anti-trust immunity for BA-American Airlines alliance AFP [LONDON] Talks between British and US officials seeking to liberalise air links between Britain and the United States ended with the two countries unable to
        AFP  -  520 words
      • 218 42 AFP [BEIJING] Britain and China signed an agreement on Wednesday allowing for two flights a week between Shanghai and London for the airlines of both countries, official media said. The memorandum of understanding, signed in the presence of British Prime Minister Tony Blair, who
        AFP  -  218 words
      • 264 42 AFX-Asia [WASHINGTON] Philippine Airlines will need 9 billion pesos (***** million) in fresh equity to restore its financial health, Finance Secretary Edgardo Espiritu said. "There will be a capital infusion of 9 billion pesos, of which 5 billion pesos will come
        AFX-Asia; AFP  -  264 words
      • 326 42 Ford, 6M, VW, BMW, Isnzn and Honda also involved in safety recall AFP [WASHINGTON] Chrysler is recalling more than 800,000 late-model cars, minivans and light trucks due to a variety of safety problems, the National Highway Traffic Safety Administration (NHTSA) said on Wednesday. The Washington-based safety
        AFP  -  326 words
      • 302 42 AFP [NAIROBI] Kenyan President Daniel arap Moi has pledged that his government will provide concessions to operators and investors in the air transport sector in order to facilitate faster development of commercial services at Kenya's third international airport in western
        AFP  -  302 words
      • 390 42  -  By'. Felix Chan [SINGAPORE] SIA Engineering Company (SIAEC) said it expects to add another three joint ventures to its burgeoning portfolio of specialist engineering facilities in the next 18-24 months. The aircraft engineering and maintenance arm of Singapore Airlines (SIA) said
        390 words
      • 185 42 AFP [SEOUL] South Korean auto exports in September jumped 33.6 per cent year-on-year to 116,950 units, reflecting an overseas sales drive by manufacturers to offset a domestic slump, data showed yesterday. It was the first rise in auto exports In five months, the
        AFP  -  185 words
      • 1871 42 CITY FLIGHT ETA FU6HT ETO NZ4586 1625 IH6373 2350 MaM* AN8230 1910 $***** 1625 S026 2350 $0230 1910 W6374 'TO IH787 2359 kmtXfUm N***** 0755 K1844 0040 J™ "f' $0327 0755 GA974 2255 Tr KL837 U55 KL838 2300 Mn*a ***** 1700 $0990 0115 N***** 2320 GuMfZhoaMC
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  • Page 27 Advertisements
    • 24 27 Premuda Shipping Finances play important role In a market with ups and downs, a shipowner must pay increasing attention to its finances. Page 2
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    • 220 27 US walks out of open skies talks with UK Washington to hold hearings on anti-trust immunity for BA-American Airlines alliance on Oct 26. Baok Page Expcun/I^^^^ Shipping Times Now Shipping Times is Proposed editorial shipbuilding poised to deliver your highlights include: Special Feature advertising message right Prospects of the Monday-,
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  • Page 28 Advertisements
    • 1258 28 I NORTH AMERICA I I EXPORT 1 I OTHER DESTINATIONS I SSX SUPER SHUTTLE EXPRESS DIRECT TO LA WEST COAST OF CENTRAL AMERICA (MARGARITA SERVICE) WSSH VOT ETASM ETDSM ICR (Ml MOW CMC |NT KDCOOTT VtSSB VOT SM nWIII ACAJUTU PT CAIDMA UMAVBmMA SA N IQtBCO SAUNA OKJZ oochongkong mb«
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    • 699 28 L,nes& d °l@l l by Members of the Registry of ly Sngapore Freight Forwarde Accredited Shipping Agents. Association Singapore Shipping Association NORTH WEST EXPRESS UNE ACCEPTING CONTAINERS, BREAKBULK PROJECT CARGO TO DAMPIER/FREMANTLE (MONTHLY SERVICE) MV "ARKTIS TBN" ETA SIN 20/10/98 BOOKINGS CALL JULIA/MONICA TEL 323 4374 CONTAINERS/CONVENTIONAL CARGO FROM PORT
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  • Page 29 Advertisements
    • 1110 29 TO EUROPE FROM EUROPE Ivtssn VOY I S4W RTM ANR MM »V SOU EXT I£H~ I VESSEL VOT HTM ANR HAM RRV SOU FXT LEH SIX HY DUKE 314W 11/10 24/10 31/10 03/1120/10 MOSQ 5221 10/09 22/09 25/09 24/09 13/10 HY COMMODORE 315W IS/10 07/11 04/11 OS/11 02/11 THAMES SSOf
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    • 2007 29 HANJIN SHIPPING HANJIN SHIPPING (S) PTI LTD Imp /hm ho** con KXXM6 32*0235 237 SALES 32*0224 231 DOCUMHI *****71 774 OP9AIKMS 37*0741 252 NAM UK *****55 FAX 222W0 aHO **********0 M TO NW USA CANADA USA CANADA 7 FOR VSI/VOY IAM SM UN( HAU ~VOT SEA ~fiw DEN PCI "1
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    • 540 29 FULLY CONTAINIRISI D PBP KATtP SIKVIC IS rosa wr_ r»G msw h»g m usw wis pHi j ■sw pks |rasa I jSJ KMTC HOWWQHG M7S 04/10 04/10 ***** 07/10 11/19 13/10 IS/10 14/10 ||jKnl£!^ W 1u? I ffilo I liflo luTCgS| II4S llMflTioi KMTCPUSAW I)3S M/ 10 14/10 11/10 M/
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  • Page 30 Advertisements
    • 1426 30 DSR-SENATOR LINES TO UK/CONTINENT TO RED SEA/MEDITERRANEANCANAPA VESSEL »0r wT" l£H HTM AWB HAW WW FU VESSEL VOY SW BIT SPE FOS W.C MTB TRACE ETERNITY WQB44 Nit 1011 1111 2110 30 10 01 11 JAPAN SENATOR WMB44 00 10 29 10 tl 10 »10 31 10 07 11 CHOYAM
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    • 1077 30 mjkM mac-nels s pore m'sia Carrier: MN CONTR LINES, INC P. GUDANG: (07) *****26 1 r\-y J ow NOi H********** SJBU: (084) *****9 MANILA: (632) *****24 PENANG: (04) *****36 BANGKOK: (662) *****67 SURABAYA: (31) *****0 P. KELANG: (03) *****77 JKT: (21) *****07 MDN: (61) *****3 KUCHING (082) *****1 -3 WEEKLY
      1,077 words
    • 654 30 S&IJESSELTON LINE ST Tilt *****56 FAXi *****13 MUARA LABUAN ~1 VKSH VOT ETC EU VtSSO VOT ETC ETA SPOtt *UA*A SPOtf LM SIUIISMOK VMI/00M/10 IJ/IO STIAJTSHO* m/N 00/10 14/10 CAftAKAJM-H VI4I/* 11/10 U/10 UUUM-» VI4I/W U/10 17/10 SIIAITSMOPf V7W/N 20/10 73/10 STtAfTCMOPI V7K/00 70/10 M/ 10 CAIAKA JM-32 VIH/W JJ/10
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  • Page 31 Advertisements
    • 1491 31 [VESSEL VOY SIN POU PKQ PEW PQB PUB 9HJ BA BIK IRANQHEYAMAT PJL 1307 18/10 30/10 01/11 07/11 IRANVAHDAT PJL 1317 14/10 10/10 24/10 2S/10 20/10 PQB» Mlna Qaboos. OUB Dubai. SHJ > Sharjah. BA > Bandar Abbas. BIK Bandar Imam Khomeini ACCEPTING CONTAINER/BREAK-BULK SHIPMENTS TO INLAND POINTS IN IRAN
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    • 2784 31 DIRECT TO ISRAEL 1 IN 13 DAYS g.- ilVlß#imßSPA^il I SINGAPORE'S GENERAL AGENTS: 6 SHENTON WAY TIL 226 1900 FAX: *****08 OUTWARD (B/L) *****02 JOHORE OfFICE: COSTAR SNIPPING PTE LTD #17-08 ois iidg sales/ikgs *****57/60 inward dept (D/o) *****85 COSTAR AGENCIES (AA) SDN BND CR NO: 117t*****00M TOWER TWO (06M09)
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  • Page 32 Advertisements
    • 1337 32 EUROFt/UK/SCAWDIMAWA^MIAMD/WUSSIA SGP ROM ANW HBG THP ZEE LHV LHV THP RDM ANW HBG PKL SGP E. DEVOTE RW-M3 30/11 84/11 31/11 12/11 83/10 04/11 E. REACH RE-020 17*8 10/00 IUI 21*9 22*8 IS/10 19/10 E. OEVELOP RW-003 17/10 00/11 11/11 07/11 01/11 10/11 11/11 E. ROYAL RE-030 24*0 20/00 25/
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    • 825 32 PACIFIC INTERNATIONAL UNES (PTE) LTD J 140 Cecil Street, #03-00 PIL Building, Singapore *****0. l*s» w miswiwi STP m tm m /m. m rnjswT MNSAnmm w i/u 10/10 I ?i/i» ts/n w/n s/n ;/n I rowrawKA fwtois n/io |i4/io I ivn u/ii tt/io jju Mi »/ii I Mmamn m »/it
      825 words
    • 602 32 NANTAI LINE 1 FULLY CONTAINERISED SERVICE TO MAURITIUS SOUTH AFRICA vessel voy 1 so I pui I out 1 jnb l cpt I bcb MJIUIPWKKS VO74S 13/10 77/10 31/10 31/10 hanuiqubi nous if/io a/io 01/11 oyii 15/11 oyii mmiDMCOtl im 27/10 OS/11 W/ll It/11 13/11 BjjgjrtßjQ 1025S 03/11 14/11 lt/ll
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  • Page 33 Advertisements
    • 449 33 BSfl 1 MYANMA wBBk FIVE STAR LINE (Myaawar Notioaol Lino) 1 Loading for Yangoa (Roagoon) VESSEI VOY SW PKL PIN PCU MAWLAMYWE «0W SIR PWYA 157 10/10 MALAYSIA AGENTS: KXJSTEAD SHIPPING AGUKKS KUL TIL (01)*****00 PKL TIL (01)*****01 PIN: TIL (04)*****02 PGU: TIL (07) *****21/4 BANK LINE (A swvkt Andrew
      449 words
    • 1520 33 HYUNDAI MERCHANT MARINE CO., LTD. [VBSa VOY SJW 1 SOU UH KIM MIT HAM MV W IVPSE VOT SOU IW IBM OUT HAM Wi fa 18? NaKK 005W 09/10 19/10 31/10 26/10 20/10 MYftSBMI 3IX U/09 22/09 17/09 19/09 10/10 HYDUW 314W 12/10 M/ 10 29/10 31/10 03/11 MOS& S2B
      1,520 words
    • 984 33 ft nofvjfgon speookzcd outocaws QS&sXS Wilhelmsen Lines TO NORTH AND LATIN AMERICA "RORO HEAVYUFT SERVICE" VESSEL VOY um HOGHT SW lAX CKi MIA SAV ML Off NYC NEW MM TEXAS FI2O 400 Tw> 6.3* 13/10 09/11 11/11 21/11 23/11 25/11 24/11 27/11 02/12 OS/12 TOM Fill 4001 m 6JM 29/10
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  • Page 34 Advertisements
    • 887 34 K T fIP 91 W VESSEL VOY S4N BKK MTP LCH" VESSEL VOV SIN JKT PJN RATHA BHUM 34N 10/10 13/10 14/10 DEJA BHUM 768S 10/10 14/10 MATHU BHUM 384N 10/10 14/10 ANRO JAYAKARTA* 066 10/10 13/10 ACX RUBY 32N 11/10 14/10 18/10 ACX JADEt 318 12/10 IS/10 YANTRA BHUM**
      887 words
    • 556 34 INDONESIA NATIONAL LINE TO EUROPE EXPRESS SOC-COWTA—ni BED SOWICg "m VOY I fOHf I A'OAIMI OA> I M tVR6 MOKB AHTWEHP »nwa I ttnt nn2 "oiir asm TO AUSTRALIA FULL CONTAINER SERVICE m Ivor \nl L\m\ mIWO I Ma I HMI m Inn I afiembuld m wkhh im« an ivw
      556 words
    • 987 34 I VESSELS I VOY SK JBJ WA I Ift HW THP RTM ZEE IVBIEOE TANYA T2BW 12/10 21/10 »1Q 01/11 02/11 Qdl OVII ~byil VEl£ DC TAURUS A2BW 18T10 2BTIO OBMI 08/11 o*ll 11/11 11/11 12/11 VEJ-E D'AQUAREtS U2BMT OVII IWI I*ll Wll 18H1 ~l9m~ VEl£ D£ AKTARES L2BW 03m
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    • 21 34 CONVENTIONAL SERVICE LOADING FOR MADRAS/BOMBAY Accepting heavy lift Upto 40 tons ETA 22.10.98 FCL7LCL WEEKLY SAJUNO"TO BANGKOK/HO CHI MMH/HONG KONCW<EELUNG»*CALCUTTA/ KARACWJAPAHPURBAW/MADRAa/BBYAXXOMBO
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  • Page 35 Advertisements
    • 50 35 STE||~fc Dial 740-6000 Oil QE 1713 RU (Retrieve more schedules!) Press "1" Select the port and key in the four digit code eg: To New York (NYC) 2275 Key in your fax number your phone number Another innovative service offered by The document Wi 11 be Shipping times s IjLI
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  • Page 37 Advertisements
    • 145 37 —Rig— FREE Reader Enquiry Service cut out and fax to 65-*****29 Need HELP or INFORMATION on the following? (please tick relevant boxes) I I SHIPPING SERVICES Port of Origin: Cargo Type: Cargo Ready by: Port of Destination: Cargo Volume: Special Requirements: ADVERTISER:PRODUCTS/SERVICES Saw an advertisement in Shipping Times of a
      145 words

  • Page 38 Advertisements
    • 968 38 SAMUDERA SHIPPING LINE LTD 15 McCALLUM STREET #03-01/02 NATWEST CENTRE S'PORE *****5 TEL: *****81-3 FAX: *****08 (OUTWARD) *****69 (INWARD) TLX: R*****0 CR NO. **********0 D BOOKINGS CALL DIR E C TLIN E: 22 *****/43 JE SSIC A/C ELI A/M EI CHAN 7 slgs/week [QQ2ISZH 2 slg/week {VESSEL [~VOY nss f~JAK
      968 words
    • 660 38 CONTAINER FEEDER SERVICE DIRECT SERVICE FROM S'PORE TO KARACHI ACCEPTING BOTH SOC AND COC CONTAINER fVKSO VOYAGC FTA SINGAPOti ITA COLOMBO HA MIAOU shaiama> ooi ww is/iq/w 20/10/* ?s/io/w SWAT 001HW 22/10/* 27/10 01/11/W SHAUMAI 007HW OS/11/* 10/11/* 15/11/* SWAT 002HW IVII/W 17/11/* n/11/* SHAUMAI 003HW 24/11/* 01/12/* 04/12/* I
      660 words
    • 469 38 SIM FAR EAST 12/10 KEELUNG/KAOHSIUNG 11/10 BANGKOK 11/10 MANILA/CEBU 11/10 JAKARTA/BELAWAN/SURABAYA 11/10 PORT KELANG/PENANG/E. MALAYSIA 13/10 BUSAN 11/10 TOKYO/YOKO/KOBE/NGO/OSA 11/10 HONGKONG SIN CHINA (^CD#i»*n) 11/10 GUANGZHOU/HUANGPU/SHENZHEN FUZHOU/XIAMEN/SHANTOU/SHEKOU DALIAN/SHANGHAI/XINGANG TIANJIN/QINGDAO/HAIKOU SIN EUROPE/UK 11/10 LDN/FLX/LVP/SOU ROM/ANT/LEH/HAM/GOT/OSL also accepting cargo to EASTERN BLOCK COUNTRIES SIM USA/CANADA 11/10 LOS ANGELES/NEW YORK all IPI points
      469 words
    • 535 38 fff| Singapore Soviet Shipping CPL a Ni lOOJOMOOOON k\\l MdHKm Shipping PI W33) (Witt* 0-Md at H« *****f*****( VESSEL VOY SIN BOM PNG PKL KOTA RUKUN RKNOIS 10/10 18/10 28/10 30/10 KOTARATU RTUO23 17/10 2S/10 06/11 08/11 BUXMOON 119N 28/10 02/11 13/11 14/11 VESSEL VOY SIM CALCUTTA MW M REGINA
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  • Page 39 Advertisements
    • 909 39 MICIC TRANSPORT y>M gAjgONSHIPPIWQ STRAITS SHUTTLE SERVICE Ivissa. vor msrott hok Isfow Ivtssa voi rmsroti roo »iwran Ivcsa wt tnsww wwgmitl umm 01/ M/ioow) w/io 13/10 noma 11/10 (smo 11/10 mccwmuh mm os/io mm m/io OPTIMA 0042 00/10 (HH) 12/10 IS/10 MDMA 9043 10/10 (SIM) 10/10 W/IO VRtSSIAYA NOM 07/10
      909 words
    • 1642 39 Wuo -g»- —!—UM ivfttt/wrai ffl jjj HP la ?TW «<* "*ww M [TP*TQ XJUIHAWTILW UJVvA4O 00. 10 74.10 26.10 27.10 31.10 Ifyi iNIIIR 04Sk\7 iim icm um %im *x ia ii ia I* is r ic in NYXSMHUS 04WA41 IS.IO 11.10 02.11 0111 07.11 £2 J \l J J NYK
      1,642 words

  • Page 40 Advertisements
    • 957 40 VESSEL VOY TIGER ISLAND 651N 07-12/10 16-22/10 26-27/10 I TIGER BRIDGE 653N 14 15/10 20-24/10 29-30/10 TIGER BAY 654N 18-19/10 23-28/10 02-03/11 i TIGER PEARL *****1 22-23/10 27-02/11 06-07/11 g TIGER ISLAND 655N 26-27/10 31 06/11 10-11/11 J TIGER BRIDGE 657N 29-30/10 04-09/11 14-15/11 IVESSE^^^^VO^^SN^^CA^^SIJ^I SIN HAI 021 09-09/10 15-19/10
      957 words
    • 816 40 FREIGHT LINKS EXPRESS Tel: *****66 (60 Lines) Fax: *****33 E-mail: flesin@singnet.com.sg REGULAR LCL FCL SERVICES ALEXANDRIA IZMIR SAN ANTONIO BUENOS AIRES LAEM CHABANG SANTOS CEBU MALTA SHANGHAI ISTANBUL GOTHERNBURG XINGANG ***PLIASE CALL OUR TOLL FREE LINE: 1800-*****66 FOR BOOKING Overseas Office* Hongkong *****113 flms@asiaonline.net Port Kelang *****40 flemetm.net.my Bangkok *****42
      816 words
    • 1285 40 OOCL (Singapore) Pte Ltd CFS Keppel Distrpk 79 Anton Rood #21-04 (S) *****6 1* 513 *01-121 -1- CI MO **********0H T«t 272 7«27 for booking W: *****13 Fu 221 3942 Fm: 272 7825 nnuiry AFL/ Orient Overseas Container Une 9 Y (R)/ 2. (Malaysia) Sdn Bhd [Reg No: *****2-U) ra
      1,285 words

  • Page 41 Miscellaneous
    • 129 41 —FRry f\ *i Vi LEGEND: R Thunderstorm Temperoture •<, X\ y Shower Weather _X Wind direction with speed in knots ••'Rain Cloudy Sky Wov# height Surfoee winds are indicated by arrows which fly with the wind One fu* circle represents catm or kght and vonoble wmds U-OnehoH Heche represents 5
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