The Business Times, 15 October 1998

Microfilm: NL21344
Total Pages: 40
1 40 The Business Times
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  • Title Section
    Masthead
    12 1 85c MITA(P) 110/12/97 THE BUSINESS TIMES SINGAPORE Internet: http://buslness-times.asial.com.sg/ THURSDAY, OCTOBER 15,1998
    12 words
  • Article
    MARKET SUMMARY
    61 1 □sit 186.78 (.29.86), mm 44M8 (-13.80) nmamvmmss mM 15L30 (-120) eiKAIKETfIOODc Ei Mixed STOCK HAKKET INDICES Wednesday Change KLSECOMP JMJS 4M NIKKEI lUTtTl—-171M HANG SENG 834M1 mm SET INDEX Sfell -M7 JAKARTA COUP JKH -ltM MANILA COMP _USiB -OH TAIPEI WPI i3tt.ll -M.19 SEOUL COMP mil 4N CLSA
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  • Article
    FINANCE
    74 1 FOtEX BATES DS$ SI OBI Lm i(US$/SM per L7U 17W ■r- LW UN YEH 111?— UK* KM Im tw hb 7.747 urn BAHT J8l1» iHJPIAH— WM—M18* •StmMmUb •'FUME KATES SINGAPORE* 7.58 KOALA LUMPUR 1LM MAXSA KM BANGKOK 1471 mla 2L» mn KDNG mji TAIPEI AM SYDNEY Ml TOKYO Ml
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  • Article
    Corporate tax cut may be among panel proposals
    450 1  -  Competitiveness committee's report due out before Apec meeting on Nov 14 By, Audrey Tan [SINGAPORE] A corporate tax cut may be among the recommendations put forth by the Committee on Singapore's Competitiveness (CSC) when it presents its cost-cut-ting package early next month.
    450 words
  • Article
    Penny stocks go through the roof
    421 1  -  Intraday gains hit 200% as pouters shun bine chips By] R Sivanithy [SINGAPORE] Penny stocks and warrants yesterday exploded into life as punters switched their attention away from faltering blue chips, resulting in gains of as high as 200 per cent intraday. Topping the
    421 words
  • Article
    HK reaping paper gains of over 10% from intervention: Yam
    595 1  -  By< Catherine Ong [SINGAPORE] Hongkong is making "well over 10 per cent" in paper profits from its recent intervention in the stock market to drive out speculators, but it has no plans to sell those shares yet, said its de
    595 words
  • Article
    Global fund managers nibbling at Indon blue chips as rupiah firms
    815 1  -  From, Shoeb Kagda in Jakarta CHEERED by the recent strength of the rupiah, international fund managers are starting to selectively buy Indonesian blue chip stocks after months of virtually ignoring the market. According to fund managers BT spoke to,
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  • Article, Illustration
    Lock icon The people president
    69 1 [SINGAPORE] True to form, Philippine President Joseph Estrada turned on his considerable charm yesterday when he visited Filipino workers at Keppel Shipyard Accompanied by senior Keppel executives, Mr Estrada was very much the star as he exchanged banter with adulating Filipinos. The Keppel group in Singapore employs
    CHRIS LOH  -  69 words
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      126 1 iM HIDE Dcvabpri art tack With the 'ghost month' over, developers are again hard at work selling their projects, Pf 3 sbb ■»>*«* watchdog The Hock Lock Siew column looks at the role of the stock exchange in Singapore's rapidly changing nm, Eye hedge fcmds MKP Capital Management, a large
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      38 1 Financial Jobs crunch Investment firms worldwide slashing workforce Merrill Lynch private bankers here not hit SeePgl9 Spore-Taiwan dual listing could start In mld-1999 Full report, Pg 17 Indian poverty expert wins Nobel economics prize Full report, Pg 10
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      23 1 Analysts hall govt's plan to unveil cost-cutting package soon, Pg 3 Market reports, Pg 22-26 More reports on World Economic Forum, Pg 2
      23 words
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      152 1 Invented for you A Breguet watch has a unique responsibii lity, it comes to you carrying the name of i m Abraham-Louis Breguet, the greatest watchmaker ever known. You will recognise it by il J \r§ the legendary "Breguet" hands, the shim*7**. I I mering guißocW dial, and the finely
      152 words
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      18 1 ladoaoaatral banker sees further rate cuts, Pg 8 Jakarta to monitor forex flows but no controls, Pg 8
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  • WORLD ECONOMIC FORUM
    • Article, Illustration
      Lock icon Asian economies see light at the end of the tunnel
      811 2  -  Bnt it's hard to tell whether it's the light of the morning sky or an oncoming train By' Vikram Khanna THERE is light at the end of the tunnel for Asia's beleaguered economies, but at this stage, there's no telling
      SIEW YAW HOONG  -  811 words
    • Article
      Asian achievements are real: Dr Tan
      323 2 EAST Asia achievements of the last three decades were real and underpinned by sound and prudent policies, Deputy Prime Minister Tony Tan said yesterday. He noted, however, that their problems arose from the fact that they did not develop the necessary institutions to cope
      323 words
    • Article, Illustration
      Strategic investors on the rise in Asia
      444 2  -  Portfolio investors to take lower profile in region: economist t*y Vikram Khanna OVER the next two years at least, portfolio investors in Asia will give way to strategic investors such as private equity funds, who will seek to "exploit the crisis", a renowned
      444 words
    • Article
      MAS: Focus on short-term risks of more contagion
      437 2  -  By\ Siow Li Sen CENTRAL bankers should focus on a global effort to reduce short-term risks of further financial contagion instead of expending energy exclusively on the longerterm issue of reforming the global financial architecture, said Koh Yong Guan, managing director of
      437 words
    • Article
      US upset security arena hit by S'pore-KL row
      383 2  -  Assistant Secretary of State hopes FPDA can be resurrected By i Catherine Ong THE United States was "displeased" that quarrels between Singapore and Malaysia have spilled over into the security arena, said Stanley Roth, US Assistant Secretary of State for East Asian
      383 words
    • Article, Illustration
      IMF remedies working: Roth
      413 2  -  By i Catherine Ong THE remedies prescribed by the International Monetary Fund (IMF) for Asia's troubled economies are working, vindicating a decision by the US government last year to oppose a Japan-led fund that could have undermined the harsh prescription, a senior US government official said.
      413 words
    • Article
      Asian firms need 'breakthrough' in attitude
      255 2 ASIAN companies need to go beyond cost-cutting and consolidation if they are to survive the current crisis, a panel of businessmen and management consultants said yesterday. At a discussion on corporate restructuring in East Asia, participants agreed that a "breakthrough" in attitudes is needed
      255 words
    • Article
      E Asian stability hinges on S-E Asia
      215 2 STABILITY in the whole of East Asia could in Aiture be unravelled by social and political dislocations in Southeast Asia. This could come about if Asean failed to address "new issues" such as human rights, civil liberties, democracy, transparency, and accountability. But such
      215 words
    • Article
      Statements on Anwar good for Asean: Siazon
      337 2  -  Minister says people want more political participation By Yang Razali Kassim STATEMENTS of concern on the fate of Anwar Ibrahim expressed by Indonesian and Philippine leaders are unprecedented in Asean and marked a new threshold for the grouping, Philippine Foreign Minister Domingo Siazon
      337 words
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  • SINGAPORE AT HOME & ABROAD
    • Article
      Analysts hail govt's plan to unveil cost-cutting package soon
      553 3  -  A cushion for companies, but external factors hold the key, they say By Ven Sreenivasan ANALYSTS yesterday welcomed the government's plan to unveil soon a package to cut business costs, saying it would help cushion the fall in corporate earnings. But
      553 words
    • Article
      Developers rushing to relaunch projects in last quarter of year
      429 3  -  Prices lowered to woo buyers ahead of imminent CPF cat By Ang Wan May DEVELOPERS are feverishly flogging projects launched earlier as the year enters its last quarter. "The window just after the ghost month is a good time to
      429 words
    • Article, Illustration
      Snuff out cyber crime in support of IT: Jaya
      491 3  -  By: David Boey LAW and Foreign Affairs Minister S Jayakumar yesterday issued a call to Singapore's law enforcement, security and judicial professionals to prepare to snuff out crime in cyberspace, in order to support the Republic's push to become an information
      491 words
    • Article
      SIA starts frequent flyer plan for all classes of passengers
      327 3  -  Move part of airline's efforts to beat competition By I Conrad Raj SINGAPORE Airlines will begin enrolling passengers for its very own frequent flyer programme, Krisflyer, which will cater for all classes of passengers, unlike its existing "Passages" programme that
      327 words
    • Article
      Lock icon SP wins US$500m deal for Indian plant
      267 4 It will develop plant in Gqjnrat, and has also bid for project in Tamil Nadu Reuters SINGAPORE Power has won a US$5OO million (SSBII million) deal for a power plant in the western Indian state of Gujarat, Indian Power Minister PR Kumaramangalam said
      Reuters  -  267 words
    • Article
      Bookies may get the boot as football betting is legalised
      351 4  -  By. Lee Han Shih IN a year chock-full of bad news, yesterday will surely go down in history as the darkest day for illegal bookies the Singapore government, with a stroke of the pen, has legalised football gambling. At spm,
      351 words
    • Article, Illustration
      Lock icon Few shoppers so Giordano to close Ladies stores
      662 4  -  HK gronp to focus on main line in S'pore amid retail slump By i Carol Eng DRIVEN by difficult operating conditions and a failure of its second line to take off, Giordano Originals is closing all its Giordano Ladies stores in Singapore
      ARTHUR LEE  -  662 words
    • Article
      In defence of bankers and developers
      841 4  -  LETTTEft TO THE EDITOR Warren Low I READ with dismay Siow Li Sen's opinion piece ("Loan defaulters made to pay too high a price") and Lee Han Shih's column ("HLF case could hurt developers") in BT of Oct 13. As a regular reader of
      841 words
    • Article, Illustration
      Lock icon Loans growth flattens to 0.92%
      295 4  -  EYE ON THE ECONOMY Finance By 1 Clarissa Tan BANK loans growth fell for the tenth consecutive month in August, to 0.92 per cent, latest figures from the Monetary Authority of Singapore show. Loans growth to the key property sector continued falling, to 4.7 per
      Source: MAS  -  295 words
    • Article, Illustration
      MasterCard banks on the Maestro debit card
      502 4  -  By< Clarissa Tan SEATED in his glass-walled office on the 35th floor of Gateway East, Andre Sekulic, MasterCard's new president for the Asia-Pacific region, seems confident the company will bear up well even as credit card spending shrinks across the region. He says
      502 words
    • Article
      OCBC, OUB cut prime by 25 basis pts to 7%
      246 4  -  By\ Siow Li Sen OCBC Bank and Overseas Union Bank (OUB) are both cutting their prime lending rates by 25 basis points to 7 per cent from today, completing the latest round of rate cuts of the Big Four banks.
      246 words
    • NEWS Roundup
      • Article
        Jaya heads for China
        52 4 THE Ministry of Foreign Affairs said yesterday that Foreign Minister S Jayakumar will make an official vialt j Chinese Affairs Tang Jiaxuan. Prof Jayakumar's itinerary will include Beijing, Shanghai and Suzhou. The purpose of the visit is tc farther strengthen friendly bilateral relations and to promote
        52 words
      • Article
        CID
        55 4 CRIMINAL Investigations Department (CID) director Chua Chin Kiat will take over as director of prisons from next month, the Minis* y of Home Affairs said yesterday. Current prisons director PohOeokEk is due to retire on j Nov 1. Ng Seng Liang, the police force's director of manpower, will take
        55 words
      • Article
        SG S'pore
        44 4 the Societe Generale group here, has appoint«M3jristian Jourdain de Muizon as managing director and head of the bank's Astern commodity ahd trade bustaaps. Mr de bank's global commodity tod trade business in Paris, has who is returning to the bank's headquarters In
        44 words
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      235 3 C?or some inexplicable reason, thinas flow a lot more smoothly when you haue a view. v You're at the doorstep of the You're just a stroll away from financial and business district. our meeting facilities. Sample the best of East and Wist Pick up all you need from the cuisines
      235 words
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      85 3 i i M M fr Pasha Solid steel. Automatic movement. Water-resistant to 100 metres. ■Mi^^HHßEr^ z Prices range from 554,530 3 0 1 Available at: <t> CortinaWatehCentre SINGAPORE Cortina Watch Centre Pte Ltd Raffles City #01-36 Tel 339 9185 Fa* *****66 Lucky Ptaza *01-32 Tel *****68 Fa* *****73 Mitlenla Wa*
      85 words
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      90 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
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      20 4 f ra mikimotO The Originator of Cultured Pearls Since 18f3 MMm Tan^'n *****9 JeroiceJ^HH/^ The Straits Times Classified Classifications 52-193
      20 words
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      564 5 ffy to Tokyo 7 days a week launch offer now Winter schedule effective from 25 October v 9B to 27 March *99 S'PpK DAILY NHKH TOKYO (NMJTAI Economy Class J 4 T i fl«Am halniAl 1 kkrVl R 1 fIKHBI SJSSF MONfcTUE WED THU-SUN NHII2 OSAKA (KANSAI) MON&TUE WED THU-SUN
      564 words
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  • FOCUS: PROPERTY
    • Article, Illustration
      Owners reign in Castle Green
      522 6  -  The bulk of residents in Kuok condo development are owners, and S'poreans make up largest group of buyers By\ Diana Oon f SINGAPORE] OWNER-occupier units form the majority, or about 60 per cent, of Castle Green condominium apartments in Yio Chu Kang. There is also
      522 words
    • Article
      Yokogawa to sell Tampines building
      289 6 Valuation pegs it at $17.5 m; group moving to new premises [SINGAPORE] Yokogawa Singapore is selling its fourstorey corporate building in Tampines, as part of a larger plan to house all its operations under one roof in new premises. The property for sale is located
      289 words
    • Article
      Lock icon Host Marriott puts off REIT spinoff
      165 6 Current market conditions won't support IPO, it says Reuters [NEW YORK] Host Marriott Corp has for now abandoned plans to spin off a new real estate investment trust (REIT) consisting of the company's limited-service hotels, the Wall Street Journal yesterday quoted company president and
      Reuters  -  165 words
    • Article
      House Hunt
      979 6 Property transactions for districts 15 and id (sectors 42 to 45 and 46 to 48) lodged between Sept 12 end Oct 10, 1998 ProtKtNmr Prop contract TMm M-w Mm p* StoatNm Typ» Ml UatAnr (SqR) PTOOO) (SS) District 15 NOIHLmmM Amber Park Apt 08/25/98 FH 1743 805 462
      979 words
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      214 6 Katong Park Hotel 1 FOR SALE BY TENDER I Site area: 36,079 sq ft approx. an redeveto P into a 20-storey hotel with 486 rooms. Approved gross floor area: 151.531 sq ft (plot ratio: 4.2). excellent sea view. Poten,iai as serviced apartments/ Lot 293-4 mk 25 student hostel. Closing date:
      214 words
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      523 6 JSW Th« Advisory Rrm KPMGSeminarSeries 3337 Seminar on Banking Laws, Regulations and Tucation in Singapore 5 6 November 1998, Orchard Hold, Singapore Compliance with banking laws and regulations should be a priority for all bank CEOs. It is important that bank personnel are not only conversant with the written laws
      523 words
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      8 6 Saturdays Off the cuff by Jaime Ee TheßusinessTimes
      8 words
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  • REGION
    • Article, Illustration
      Lock icon Anwar freed from ISA, held in prison outside KL
      492 7 KUALA LUMPUR Decision to drop use of ISA may appease rights groups, foreign nations Reuters AFP SACKED Malaysian finance minister Anwar Ibrahim yesterday was transferred to a prison outside the capital where he will be held on remand rather than under
      Reuters; AFP; REUTERS  -  492 words
    • Article
      Lock icon Anwar treated horrifically: US
      201 7 SINGAPORE His detention cause for concern, says Asst State Secretary Reuters MALAYSIA'S sacked deputy prime minister Anwar Ibrahim was treated horrifically after his arrest last month, US Assistant Secretary of State for East Asia and the Pacific Stanley Roth said yesterday. "It is horrifying treatment, I
      Reuters  -  201 words
    • Article
      Lock icon KL tells Aussie TV networks to submit Apec footage
      314 7 CANBERRA AFX-Asia Reuters MALAYSIA has ordered Australian television networks to submit for government monitoring all their footage of the upcoming Apec (Asia Pacific Economic Cooperation) forum in Kuala Lumpur next month, journalists here said. Five Australian networks have been ordered to
      AFX-Asia; Reuters  -  314 words
    • Article
      Lock icon Ginandjar denies graft allegations by US don
      237 7 UJAKARTA Produce evidence to back your claims, he tells academic AFP INDONESIA'S senior economic minister yesterday denied a US academic's allegations of past corrupt practices and demanded that he produce evidence to back his damaging statement. "What kind of expert is he if
      AFP  -  237 words
    • Article, Illustration
      Guanxi may become ancient history
      637 9  -  CHINA WATCH Zhu Rongji takes tough stance against nepotism and graft to clean up business in China By Lu Ning ONCE when China's economic tsar Zhu Rongji said that he would have ready 100 coffins, 99 of them for corrupt officials and one for himself,
      637 words
    • Article
      Lock icon China admits real jobless rate twice as much
      310 9 BEIJING Actual fignre is 8% against the official 4* AFP CHINA admitted for the first time yesterday that its real jobless rate was more than double the official level and would hit 9 per cent next year. Both the official Xinhua news
      AFP  -  310 words
    • Article, Illustration
      Lock icon Tung leaves for Beijing amid calls to step down
      265 9 HONGKONG AFP EMBATTLED Hongkong Chief Executive Tung Cheehwa, facing the territory's first recession in 13 years and calls for his resignation, leaves for a duty visit to Beijing this week. Mr Tung will leave today to report to the Chinese central
      AFP; REUTERS  -  265 words
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      93 7 m Agiv SofTech offers hassle free 19 supply, installation and maintenance H S of your computer systems. B M y Attractive prices for PCs, Servers, H 21 Notebooks and Peripherals I Expert installation of hardware, I software, Local Area Network (LAN), H K Internet and E Mail systems I y
      93 words
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      Page 7 Advertisements Column 2
      175 7 For every square foot in M Isq One of the last few office wr T pp« developments in Raffles Place. Keppel Land's Offices, trat io ans convenient access to all parts you get a mile o Sineapore Sf State-of-the-art intelligent I 1 features offer a highly efficient OI privileges. working
      175 words
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  • ASIA'S ECONOMIC SLUMP
    • Article
      Lock icon S Korean recession will deepen further: think-tank
      315 8 Bloomberg [SEOUL] South Korea, its economy already shrinking faster than any time since the 1950-53 Korean War, will tumble even deeper into recession later this year, a government think-tank said. As companies continue to scale back investment and soaring unemployment saps consumer demand,
      Bloomberg  -  315 words
    • Article, Illustration
      Lock icon Regional currencies at highest levels in months
      387 8  -  Sing rupi&h lead rally while yen weakens to test 120 against US$ By\ Larry Wee [SINGAPORE] The Singapore dollar and Indonesian rupiah led regional currencies to close at their strongest in months yesterday, despite morning yen weakness which saw the Japanese currency test
      Source: Bridge  -  387 words
    • Article, Illustration
      Lock icon Indon central banker sees further rate cuts
      368 8 Sabirin points to finnnqriah, slowing inflation Bloomberg [SINGAPORE] Indonesia may cut interest rates further amid a stronger rupiah and slowing inflation, said Sjahril Sabirin, the country's central bank governor. "We may be able to relax the monetary policy more in the coming months
      Bloomberg  -  368 words
    • Article, Illustration
      Lock icon Jakarta to monitor forex flows but won't apply controls
      337 8 AFP [JAKARTA] Indonesia plans to install a system to monitor foreign exchange flows, but will not apply forex controls, Coordinating Minister for Economy and Finance Ginandjar Kartasasmita said yesterday. "We are going to continue with the current (free) foreign exchange system;
      AFP  -  337 words
    • Article
      Lock icon Dr M off to Japan as Tokyo mulls aid of US$2.7b
      227 8 AFP [KUALA LUMPUR] Malaysian Prime Minister Mahathir Mohamad leaves' today for a five-day visit to Japan amid reports that Tokyo Is considering US$2.7 billion (554.4 billion) In aid to the country to prevent its further isolation. Dr Mahathir is
      AFP  -  227 words
    • Article
      Lock icon Tokyo plans to force banks to accept public funds
      424 8 Fond injection could come as early as next month: reports AFP [TOKYO] The Japanese government plans to force most of the nation's 18 major banks to accept public ftihds, with the largest case involving one trillion yen (5113.5 billion), reports said
      AFP  -  424 words
    • Article
      Lock icon BOT set to intervene as baht hits year high
      284 8 Central bank chief says it will prevent rapid movements AFP [BANGKOK] Thailand's central bank governor Chatumongkol Sonakul said the bank may intervene to prevent rapid changes in the value of the baht, which hit its strongest point this year. "We don't
      AFP  -  284 words
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      70 9 "like llie l(,\l\\ ii ii 11 Mt'i i rile v, il is ii lii I i'l I* Imil jn nit lin lis 1111 riii f i liu im I i'i i lit s." Itl'Mlll. "I'llSMll. Ilfsl I f 111 111 1111 ir. Illll'l'sl I'l II t' \lt 1.. \liitiu 1111
      70 words
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  • REGION/WORLD
    • Article, Illustration
      Lock icon Indian poverty expert wins Nobel economics prize
      463 10 STOCKHOLM Cambridge don cited for work on causes of famine, distribution of welfare Reuters AMARTYA Sen, an Indian expert on welfare who has helped the world understand what causes famine and how the poorest are treated in society, won the 1998 Nobel economics
      Reuters; AFP  -  463 words
    • Article
      Lock icon Koo begins talks in China
      273 10 SHANGHAI AFP CHINA and Taiwan held their highest-level meeting in five years here yesterday in a bid to thaw frozen relations but hopes of rapid progress were doused. Koo Chen-fti, chairman of Taiwan's Straits Exchange Foundation, met his mainland counterpart Wang Daohan, president of the
      AFP  -  273 words
    • Article
      Lock icon Packer pulls off tax coup, saves A$26om
      227 10 SYDNEY AFP AUSTRALIA'S richest man Kerry Packer may only have to pay As3o (5130.57) in tax for the last three years after winning a seven-year court battle. The media magnate worth As 3 billion was celebrating yesterday after a court judgement on Tuesday
      AFP  -  227 words
    • Article
      Beijing won't cut rates for fear of capital flight: official
      625 10  -  A redaction now would destabilise renminbi's exchange rate, he says By] Lu Ning [SINGAPORE) Despite the global trend towards easier interest rates, China will not cut its rate again for fear of aggravating capital flight from the country, said a
      625 words
    • Article
      Lock icon Seoul warns it may curb chaebols' issue of bonds, commercial paper
      253 10 SEOUL AFP A SENIOR economic official threatened yesterday to restrict the issuance of bonds and commercial paper by South Korean conglomerates in another move aimed at prodding corporate reform. The warning came amid a growing tussle between the government
      AFP  -  253 words
    • Article, Illustration
      Lock icon Hot dish
      66 10 [HANOVER] Guests at a sushi bar in Hanover eating offthe naked body of 24 year-old model Kim on Tuesday. The restaurant uses naked women as huge "platters"for the Japanese dish, dubbed "sushi ala Jungfrau (virgin)" which the restaurant owner says has been a huge hit at between 400
      REUTERS  -  66 words
    • Article
      Lock icon Lankan business groups slam govt policies
      344 10 COLOMBO Failure to stop ethnic war hurting growth, they 8&y Reuters SRI Lanka's biggest industry groups yesterday criticised political parties for their inability to end the country's ethnic conflict and said poor policies were undermining sustained economic growth. "Despite successive governments identifying us, the
      Reuters  -  344 words
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      208 10 Expqn(l^^^_ )iour^ IH M HjAk Shipping times Sjup Repair Now Shipping Times is Proposed editorial Shipbuilding poised to deliver your highlights include: Special Feature advertising message right Prospects of the Monday, U p to international shipbuilding and 9 November 98 l eve l. I n addition to repair industries effectively
      208 words
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  • THE WORLD
    • Article
      US investors find little comfort in Tokyo's bank rescue plan
      543 11  -  Analysts doubt package will do the trick, amid forecasts of poor Q3 US results From, Andrew Marks in New York NEWS that the Japanese Lower House has passed a bill for a US$5OB billion (SsB24 billion) bailout plan for Japan's
      543 words
    • Article
      Lock icon MKP Capital sells US$1b of mortgage bonds
      295 11 HEDGE FUNDS DEBACLE Reuters [NEW YORK] MKP Capital Management LLC, a large hedge fund run by former Salomon Brothers Inc traders, is liquidating a large chunk of its mortgage-backed securities (MBS) portfolio, Wall Street dealers and investors said on Tuesday. MKP, a New
      Reuters  -  295 words
    • Article
      Lock icon Currencies sale from hedge funds for now
      237 11 LONDON FT THE Brazilian real and other emerging market currencies should be safe from renewed speculative attacks from hedge funds and other big leveraged investors for the next few months, say fund managers and investment bankers. The near-collapse of Long-Term Capital Management last
      FT  -  237 words
    • Article, Illustration
      Lock icon Shelter from the storm
      52 11 [HAMBURG] Dressed in a yellow raincoat, this Indian elephant was safe from the rain in Hamburg yesterday. The big coat was especially created for this elephant named Thura. Thirty square metres of material were usedfor the unusual coat, which is a joke from an ice cream
      AFP  -  52 words
    • Article
      LME gets tough on manipulation
      260 11  -  New measures to prevent repeat of Sumitomo debacle From Neil Behrmann in London THE London Metal Exchange (LME) is introducing new measures to counter manipulation in an attempt to prevent a recurrence of the Sumitomo copper debacle of 1996. "Transparency, information, surveillance and discipline all
      260 words
    • Article
      Lock icon Microsoft rebuts point by point US govt charges of monopoly
      250 11 WASHINGTON Bloomberg MICROSOFT Corp, preparing to go to trial next Monday, offered on Tuesday a point-by-point rebuttal to federal and state allegations it is a monopolist that is trying to crush its competitors. In a 40-page synopsis entitled "Setting the
      Bloomberg  -  250 words
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      134 11 x C^'''**V >isPm* vk Th designated car used by some of the most powerful leaders of the economic world. H or State and A fleet of 15 Audi A 6, 2.4 Tiptronics, captains of industry at the recent complete These new generation cars came with every n luxurious convenience fit
      134 words
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  • EDITORIAL & OPINION
    • Article, Illustration
      Lock icon Sex-obsessed US politicians fail economics
      766 12  -  THI! BOTTOXLDfE OPINION By J K Galbraith John Kenneth Galbraith, whose most recent book is "The Good Society is professor emeritus of economics at Harvard University NYT IN the long speculative splurge in the late 1920s and thereafter in the Great Depression, the record of
      NYT  -  766 words
    • Article
      IN OTHER WORDS
      85 12 "The Taliban are too religious for me, but they have stopped the thefts and the killings. Maybe someday they will also figure out how to supply some food.' AhmnH an Afghani, on the Taliban government. 'Anwar (Ibrahim), being a former deputy prime minister and finance minister, should
      85 words
    • Article
      Preventing war in the Balkans
      641 12 EDITORIAL AS the world grappled last week with the chaos in international financial markets, the Serbs were at it again in Kosovo and Nato was brought to the brink This week, the cheering in the West over the latest deal with the Serbs on Kosovo
      641 words
    • Article, Illustration
      Lock icon Will Asia crisis affect America's security role?
      798 12  -  The more confidence in security can be sustained, the sooner the region's economic difficulties will be overcome By( Gerald Hensley This writer is New Zealand's secretary ctf defence. This comment was adapted by The International Herald Tribune from a recent address at the
      FILE PHOTO  -  798 words
    • Article
      WHAT THE OTHERS SAT
      1110 12 WhyWaatnraatbalpßtiaaU THESE are grim and perilous days for Russia... President Boris Yeltsin's physical and mental decline has left him incapable of functioning effectively. The new prime minister and finance minister concede they don't have a clue about how to manage the deepening economic crisis. And now
      1,110 words
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  • EXECUTIVE LIFESTYLE
    • Article, Illustration
      Lock icon Clubs cheaper than ever
      309 13  -  The index for recreational clubs slumps to its lowest level, reports veh sreemitasam VEN SREENIVASAN Membership prices for social and recreational clubs remained under pressure last month in the wake of the continuing economic uncertainties. While the falls were not as drastic in absolute dollar terms
      FILE PHOTO; Compiled by BT  -  309 words
    • Article, Illustration
      Lock icon Have the English lost their singular identity?
      1105 13 PEOPLE NYT [LONDON] The English, past masters at turning the raised eyebrow and the cold shoulder on others, are suddenly feeling looked down upon and left out in their own land. In the past year, the three other regions that make up Britain
      NYT; FILE PHOTO  -  1,105 words
    • Article
      Lock icon US consumers rein in their spending
      795 13 PEOPLE While many expect the US economy to muddle through, confidence is slipping LAT-WP [LOS ANGELES] Like the many millions of Americans who have indulged their passion for consumer comforts during the *****, Henry Smith recently dished out US$7OO (551,141) for custom mirrors and
      LAT-WP  -  795 words
  • Page 13 Advertisements
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      Page 13 Advertisements Column 1
      9 13 HOCK LOCK SIEW Takes you behind the news TheßusinessTimes
      9 words
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      Page 13 Advertisements Column 2
      140 13 I Buying Accounting Software? I I Beware of Fly-by-Night I I software companies! I Before you buy an accounting software, have you asked the company some tough questions: What is the background of the company? How long have they been in business is How happy are their customers ||j What
      140 words
  • Page 13 Miscellaneous
    • Miscellaneous
      Page 13 Miscellaneous Column 1
      198 13 THE WEATHER fltng»porw Cloudy. Temperature (29/24 C) WHf Good. -Itrusalem 19/31 .Hear Stortihofcn V 9 rtoudy Auckland 12/14 rain Mecca it/35 rtoudy Vienna showers Bangkok 86/32 showers Zurich 8/15 rain "HTf n/*> windy Europe Lo/Hi* Good. Bombay.; 47/32 showers Amsterdam 8/13 rtoudy Amertoa Lo/Hi* Cond. Brisbane M*26 clear Athens 17/21
      198 words
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  • MOTORING
    • Article, Illustration
      Lock icon Kia vital to Ford's Asian growth
      507 14  -  US giant re-entered its bid for Kia on Tuesday after creditors dropped some debt-assumption terms By\ Christopher Tan [SINGAPORE] KIA will complete Ford's product range and is vital to its aim of beefing up its share of the Asian vehicle market, according to a
      FILE PHOTO  -  507 words
    • Article, Illustration
      Lock icon Audi offers A6 sedans for $12,000 less
      283 14  -  By I Christopher Tan [SINGAPORE] For sale: hardly used Audi A 6 luxury sedans at $12,000 off each. Audi Asia-Pacific and local distributor Motor Ultima, which supplied 15 such cars for the just concluded World Economic Forum, are offering them at $168,000 with
      FILE PHOTO  -  283 words
    • Article
      Jaguar to shortlist 120 for golf marathon this year
      285 14  -  Prelim ronnds will help cut crush seen in event last year -By Christopher Tan [SINGAPORE] The 24-hour, 54-hole Jaguar Golf Marathon is back. But to avoid the crush experienced at the last tournament, which attracted over 500 golfers, a p re-qualify-ing
      285 words
    • BUMPER to BUMPER
      • Article
        Rolls is back on track
        114 14 ROLLS-Royce Motor Cars chief executive Graham Morris was a little more than peeved about how the tussle for his company had affected car sales. Commenting on the 24 per cent dip in deliveries for the first eight months this year, Mr Morris said it was
        114 words
      • Article
        VW eyes Ford stake in Portugal venture
        70 14 VOLKSWAGEN is still on a buying spree. The German giant is holding talks with Ford to buy over its stake in their joint venture plant in Portugal The plant, currently 50-50 owned by the two car-makers, builds VW-based mini vans—including the Ford Galaxy,
        70 words
      • Article
        Audi celebrates plant's 125th birthday
        53 14 AUDI celebrated the 125 th anniversary of its Neckarsulm plant recently. The facility was founded originally as a knitting-machine factory in 1873 in Riedlingen (on the Danube river). The company relocated to Neckarsulm in 1890, where it became one of the largest producer of motorbikes,
        53 words
      • Article
        Honda jumps on compact bandwagon
        125 14 HONDA Motor of Japan has just unveiled a compact wagon the company hopes will be a repeat of its CRV sport-utility vehicle that pushed up sales last year amid an industry decline, according to a Bloomberg report. The 1.6-litre HRV, which will have a VTEC
        125 words
      • Article
        Daimler buys simulation software
        57 14 DAIMLER-Benz AG has signed a contract With Computer Aided Design Software Inc of the US to use its range of simulation software in vehicle design. These include one which provides "ftill dynamic motion simulation"; and structural and thermal analyses. Daimler will extend the application to truck
        57 words
      • Article
        Shinryo bags $135m MRT deal
        73 14  -  OwnfflMhy Christopher Tan JAPANESE ventilation group Shinryo Corp has landed a $135 million contract to ventilate and airconditioc the North-East MRT line. It will also be responsible for installing and dismantling a temporary system used during the construction period. Meanwhile, a team from Keppel Automation
        73 words
    • Article, Illustration
      Lock icon Grand old dame sold for $45,000
      67 14 [SINGAPORE] This immaculately maintained 45-year-old, Mercedes-Benz 170 SV was recently sold for about $45,000. Friends Auto Trading took just one month to find a buyer, believed to be an antique dealer. Very little official data could be found on the 170 SV. But the
      ARTHUR LEE  -  67 words
    • Article, Illustration
      Fuel additive with stability
      375 14  -  By i Christopher Tan [SINGAPORE] In what could have been mistaken for a detergent ad complete with men in lab coats and a "superhero" in tights a new ftiel additive was launched, no less at the Raffles Hotel. Power Max, introduced by a company called TLC,
      375 words
  • Page 14 Advertisements
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      Page 14 Advertisements Column 1
      459 14 ADVERTISEMENT Renault's sales hit new high in Singapore EXKLUSIV Auto Services Pte the sole Renault cars in Singapore, has reported a of 200 per sales turnover as compared to the same period last year. According to Mr AngGhim Cheong, Divisional Manager, the increase for the first year can be attributed
      459 words
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  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      394 15 Buy It. Sell It. Find It. Classified, fffr CATJ&I Call Today For Results Tomorrow. 1800-737-1166 UJIftAM/v 11 vwtvm/v J' M/ v J Presented /g Diners Club OCEbTS 70 OMOlbcrS Oldy SlTpWt IOQIIgCS "o apply, call: Where to dine dlld entertain*** W lmermtwnar tlutothercardcompaniestalkabout Japmctc FckxJ 9L DcsMtt Promotion 1 to
      394 words
    • Advertisement
      Page 15 Advertisements Column 2
      119 15 EAtjv rmp f h TO KOH SAMUfc THAILAND! with every order of our award-wiiptin ftjolmi Rice A 4«t Chatterbox Coffeehouse, CHfkaa Rice Capital af the Wartd. Tl 31 October 1986 o■%. Hurry/ I I Coffeehouse BP JJJ Orcbart) M Singapore 2JM7. TeL 7T744U Fax: *****6/ Surf the net for only
      119 words
  • Page 15 Miscellaneous
    • Miscellaneous
      Page 15 Miscellaneous Column 1
      801 15 TV&RAPIO 5.00 News 5 Today followed 3.00 Legend of the Flying by Th e Mask. Fox. 230 PM TV Innovations. sjo Spider-Man. 330 TV Champion. 4.00 Blitz: Sesame 5.00 News 5 followed 4.45 The Great Wall of Chi--5.00 The Silver Brumby. 630 T?ie Pyramid Game. UO Li Tribe of China.
      801 words
    • Miscellaneous
      Page 15 Miscellaneous Column 2
      205 15 CRYPTIC CROSSWORD 1 Californian banker makes en- MB 6 Crack shot (4) 10 Carol may not embrace Henry MM Bm 11 Apply oneself anew to study costume (9) Hl2| I I I I I I^^BTT 12 Quickly produced two slices of 15 Works to disclose division of —L—J—X^J—L_^TbJ~~"■■J"" unknown quantity
      205 words
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  • Page 16 Advertisements
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      Page 16 Advertisements Column 1
      104 16 HONDA A Car Ahead Tl 11NTK SPACE. Think luxury. N I "i*/ l Think the new Odyssey 2.3 VTFX \on A//<>ir //<>ii'»otul tin hlysscv is in terms <»/ styling <///</ s/»</.< n //<// ///<//.< s// s '<,// n. s. bala/m'ami snnfotli /Jitiir\\'-..)/itii'l(*\'iil\t Sf *//< < hlyssey is an abso/nh N
      104 words
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  • COMPANIES & MARKETS
    • Article
      SES buy-in continues for VDH, Transmarco
      501 17  -  Transactions also being looked into as Transmarco shoots up 74 cents to $3.46, VDH trade tops 21m By\ Louis Beckerling [SINGAPORE] The Stock Exchange of Singapore was back in the market yesterday buying in more Indonesianlinked counters to settle short trades done last week.
      501 words
    • Article, Illustration
      S'pore-Taiwan dual listing could start in mid-1999
      260 17  -  Reports by' Wong Wei Kong [SINGAPORE] An arrangement allowing investors in Singapore and Taiwan to trade shares listed on both the Stock Exchange of Singapore (SES) and the Taiwan Stock Exchange (TSE) may come into effect by the middle of next year, TSE
      260 words
    • Article
      Key issues facing Asian stock exchanges
      235 17 [SINGAPORE] Promoting greater transparency, improving corporate governance and increasing regional cooperation are the key issues facing Asia-Pacific stpck exchanges, a panel of top exchange officials said yesterday at the World Economic Forum. "No market can survive without making itself more efficient, more transparent," said
      235 words
    • Article
      IPC: SES must take on policing role where it's needed
      598 17  -  HOCK LOCK SIEW Lee Han Shih L UDGING from its stance on S IPC Corp, the Stock Exchange I of Singapore must have fully M I embraced the idea of caveat emptor, or buyers beware, for M the stock market.
      598 words
    • Article
      BIL management to face tough grilling and possible shake-up
      636 17  -  Board meeting today may hear 'rescue package'plans by US investment fond By\ Louis Beckerling (SINGAPORE] The management of Brierley Investment Ltd (BIL), in which the Singapore government owns a substantial stake, faces the prospect of a tough grilling and a possible
      636 words
    • Article
      Parkway's $128m cash injection
      153 17 [SINGAPORE] Parkway Holdings yesterday said that 67.7 million warrants representing some 96.5 per cent of the original issue have been converted into shares. At $1.90 per warrant, this means a total cash injection of $128 million in cash for the group which has debts of more
      153 words
    • REGIONAL/INTERNATIONAL COMPANIES
      • Article
        Lock icon Intel beats expectations on strong chip demand
        452 18 Q3 earnings flat at USsl.s6b; record global sales, but Asia-Pac growth flat NYT Bloomberg [SAN FRANCISCO] Buoyed by vibrant demand for microprocessors, Intel Corp reported unexpectedly strong thirdquarter results on Tuesday. For the quarter ended Sept 26, Intel reported earnings of US$l.56 billion
        NYT; Bloomberg  -  452 words
      • Article
        Lock icon Seagate Q1 profit doubles to US$46m
        292 18 It beats forecasts although charges result in $30m loss Bloomberg [SCOTTS VALLEY, California] Seagate Technology Inc, the world's No 1 independent computer disk-drive maker, said its fiscal first-quarter profit more than doubled, beating expectations, before charges resulted in a loss. The Scotts Valley, Califor-nia-based
        Bloomberg  -  292 words
      • Article
        Lock icon Templeton to sell 7% stake in Engen
        131 18 Bloomberg [SINGAPORE] Templeton Asset Management will sell its 7 per cent stake in South Africa's Engen, clearing the way for a takeover of Engen by Malaysia's Petronas. "We don't think the price is right, but we have no choice but to sell. Otherwise
        Bloomberg  -  131 words
      • Article
        Uraco in talks to issue new shares
        102 18 [SINGAPORE] Uraco Holdings is negotiating with an investor on the possible issue of a new class of shares, subject to stock exchange and shareholder approval. This will boost its issued and paid-up capital, the company said yesterday in response to "the sharp increase
        102 words
      • Article
        HKBank head Strickland to retire at year-end
        313 18  -  From Qoak Hiang Whai in Hongkong SENIOR management changes continued to emerge at the HSBC Group as the London-based banking giant announced the retirement of the chairman of its flagship Hongkongßank. John Strickland, who assumed the chairmanship just two years ago, will retire
        313 words
      • Article, Illustration
        Lock icon ASX begins trading – on ASX
        67 18 ASX begins trading on ASX [SYDNEY] Chief executive officer and managing director of the Australian Stock Exchange (ASX) Richard Humprey (left) talking with Alan Cameron of the Australian Securities and Investment Commission as shares in the newty-demutualised ASX began trading on its own market yesterday. It is the first time
        AFP  -  67 words
      • Article
        Lock icon Compaq Q3 net drops 78%
        245 18 Reuters [HOUSTON] Compaq Computer yesterday said thirdquarter profit fell 78 per cent to US$ll5 million (SslB6 million) but beat expectations, and said integration of newlyacquired Digital Equipment Corp was on track. The world's biggest personal computer maker said it earned 7 cents a diluted share,
        Reuters  -  245 words
      • Article
        Gold Coin gets Viagra boost
        335 18  -  From, Ruth Wong in Kuala Lumpur THE share price of feed and flour milling firm Gold Coin (Malaysia) yesterday rose sharply following news that the government will allow prescription sales of the antiimpotency drug, Viagra. Gold Coin's wholly-owned unit Zuellig Pharma has the distribution rights
        335 words
      • COMPANY Briefs
        • Article
          Lock icon BankAmerica Q3 profit falls 50%
          110 18 Bloomberg [CHARLOTTE. North Carolina] BgikAmertca Corp said third-quarter earnings fell 50 per cent, only about half what analysts expected, as the US'largest bank kwt money fh)m trading and from an investment to a hedge fund. Bank America said profit from operations Ml to US$B93 million
          Bloomberg  -  110 words
        • Article
          Lock icon PepsiCo earnings up 1.8% in Q3
          62 18 Bloomberg [PURCHASE, New York] PepsiCo Ine's third-quarter profit rose a less-than-expected 1.8 per cent as doggish snack sales forced it to spend more on marketing. Profit before a gain rose to US$56l million, or 37 US cents a share. The results fell short erf"
          Bloomberg  -  62 words
        • Article
          Lock icon Bear Stearns Q1 net tumbles 60%
          63 18 Bloomberg [NEW YORK] Bear Stearns Cos said profit for its first J quarter fell 60 pei cent as volatile markets hurt trading and investment banking. The securities firm said net income for the three months ended Sept 30 fe& to US$64.l million, or 40
          Bloomberg  -  63 words
      • Article
        Summit case adjourned on preliminary issue
        267 18  -  By Marissa Chew [SINGAPORE] The High Court hearing yesterday on contempt of court charges brought by SM Summit against the Business Software Alliance (BSA) saw no conclusion, as Chief Justice Yong Pung How had to adjourn the court to decide on a preliminary issue.
        267 words
      • Article
        Gamuda posts RM77m profit, down 13%
        288 18  -  From Meera Tharmaratnam in Kuala Lumpur TOLLROAD operator Gamuda Bhd has posted a 13 per cent drop in group net earnings to 77 million Malaysian ringgit (5J32.9 million) for the year ended July 31 impressive in comparison with most other companies in the current
        288 words
    • FINANCIAL JOBS CRUNCH
      • Article
        Lock icon Investment firms slashing workforce
        406 19 Firms trading in emerging markets securities, junk bends worst hit Reuters [NEW YORK] Investment firms across the globe have started handing out pink slips after boosting their workforces for most of the *****. Just three months ago, Wall Street brokers were enjoying record profits. Overall employment
        Reuters  -  406 words
      • Article
        Merrill private bankers here not hit
        315 19  -  STpore is Asian HQ for US firm's private banking, says exec By\ Siow Li Sen [SINGAPORE] Merrill Lynch's Singapore private banking unit will be unscathed in the US brokerage's decision to slash 6 per cent of its 2,400 staff in Asia-Pacific, outside Japan and
        315 words
      • Article, Illustration
        Lock icon Looking for security in the City? Forget it
        682 19 Financial giants in Europe making their biggest cuts in years Bloomberg [LONDON] Financial institutions in Europe and the city of London are making their biggest job cuts and cost reductions in about six years. This week, Credit Suisse First Boston and Merrill
        Bloomberg; AFP  -  682 words
    • FINANCE & COMMODITIES
      • Article
        Lock icon HK banks hesitate to cut rates after Gitic failure
        334 20 Review of asset quality, provisioning may affect money market liquidity Bloomberg Reuters AFP [HONGKONG] The collapse of Guangdong International Trust and Investment Corp, the largest financial institution in China's Guangdong province, is making Hongkong banks reluctant to lower interest rates. The
        Bloomberg; Reuters; AFP  -  334 words
      • Article, Illustration
        Lock icon Norwest gets green light to buy Wells Fargo
        389 20 But banks have to sell 26 branches in Arizona, Nevada Bloomberg [WASHINGTON] The US Justice Department on Tuesday cleared the US$27.B billion (Ss4s billion) combination of Norwest Corp and Wells Fargo Co after the banks agreed to sell 26 bank branches in
        Bloomberg; FILE PHOTO  -  389 words
      • Article
        Lock icon IBJ shuts S'pore merchant bank unit
        261 20 Downturn in Asian markets prompts bank to reorganise Bloomberg [TOKYO] Industrial Bank of Japan Ltd said it will scale back its securities business in Asia as bond losses and the downturn in Asian markets pushed the company to reorganise in the region. Japan's seventh-largest
        Bloomberg  -  261 words
      • Article
        Lock icon 12 US banks begin electronic exchange of cheques
        441 20 Bloomberg [NEW YORK] Chase Manhattan Corp, Citigroup Inc and 10 other big US banks last week began exchanging electronic information about cheques in a partnership aimed at eliminating the costly transport of pieces of paper. Historically, when a cheque is cashed or
        Bloomberg  -  441 words
      • Article
        Lock icon US Fed told to study safety of check cards
        200 20 Reuters [WASHINGTON] Key lawmakers of the US House of Representatives have asked Federal Reserve chairman Alan Greenspan to study whether regulators have enough power to regulate the so-called "check cards". The cards, which look very much like automatic teller machine cards,
        Reuters  -  200 words
      • Article
        Lock icon Deutsche, JP Morgan rise on merger talk
        151 20 Bloomberg [NEW YORK] Deutsche Bank AG and J P Morgan Co shares rose on Tuesday amid speculation that the two banks are considering a merger. Both banks declined to comment. Deutsche Bank gained 2.59 Deutschemarks, or 2.9 per cent, to 91.8 marks. J
        Bloomberg  -  151 words
      • Article
        Futures trade in narrow range
        283 20  -  Report MSCI Singapore Index Jardine Fleming THE MSCI Singapore Index futures traded on the Simex remained congested in a relatively narrow range yesterday on mixed fundamental news. Although the Dow Jones Industrial Average was off only fractionally the night before, the more high-technolo-gy oriented Nasdaq
        283 words
      • Article
        Futures down on retail selling
        166 20 MSCI Taiwan fatores THE Simex MSCI Taiwan Index futures edged down 2.50 points, dominated once again by Taiwan retail orders. The stock plunged 90.1 points. Investors felt that the recent rally in banking stocks following a fall in interest rates was overdone. The decline in
        166 words
      • Article
        Lock icon Producers' woes grow as oil prices sink
        184 20 ENERGY REPORT Reuters [LONDON] Oil prices dropped deeper into producers' danger zone yesterday, bedevilled by a glut that shows few signs of clearing. International marker Brent crude slid back below US$l3 a barrel to trade at U5512.93 by 1415 GMT, down 10 cents.
        Reuters  -  184 words
      • Article
        Lock icon CURRENCY REPORT
        286 20 AFP Taiuloii THE dollar was slightly easier, following the release of weaker-than-expected US retail sales data for September, Chester at Halifax said the next set of economic data US September PPI and CPI due for release today and tomorrow respectively, should provide further clues as to the health
        AFP  -  286 words
      • Article, Illustration
        Untitled
        1241 20 dtterbaiik cross rates oau A$ C$ fct ECU Hr Pi HK$ hi to NpHH Yw Ww> H «$P*to Nx> SS tmt Str «T$ MM HI US$ Austral 0.974 6.178 0.523 1455 1031 4171 **12 ***** 0.752 8.476 UN 1163 34JI6 271S3 1020 3199 0.*****.925 ***** 0.369 0129 Cm* 1.027 5.359
        1,241 words
    • Article
      COMMODITY PRICES
      1696 21 8IC0M FUTURES Oct 14 RUMCI (Marts dosmq««t 130pm) ISS t ct«tsAg) CtOM VotoM Optfl Mwtt M«h Law Sott (towm) tettrtst Nov 96 t19.75 1325 Dtc M 120.75 1450 JM 99 122.00 122.00 ***** 600 550 Fab 99 123.75 650 Mir 99 125.00 850 A»r/J» 99 128.50 2400 Jul/Sao
      1,696 words
    • Article
      WORLD STOCK MARKETS
      2112 21 Industrials Oct 14 hn 31 Group 500.000 1.000 AB Ports 278.000 unch Abbey National 1040.460 -0.540 AMed Domecq 455 000 -5.000 Amoc 177.000 -1.000 Asda Group 164.600 4.400 BAT Mid 4B5.000 -XOOO BO PIC *****0 10.000 BtCC 58.000 -1.000 BOC Croup 736.000 *1.000 BR Petroleum 863.000 8.000
      2,112 words
    • Article
      Lock icon TOKYO
      1488 21 Bloomberg Q Nikkei 225 -171 M JAPANESE stocks fell for a second day, paced by Bank of Tokyo-Mitsubishi Ltd and other lenders on expectations that a government plan to recapitalise banks will be difficult to implement. Japanese banks may be forced to accept public ftinds from the 43 trillion
      Bloomberg  -  1,488 words
    • Article, Illustration
      Lock icon HONGKONG
      1463 22 Reuters Hang Seng _J6&82 STOCKS dropped to a lower close yesterday as investors skimmed off profits after the market's recent hefty gains, brokers said. The Hang Seng Index lost 168.82 points, or 1.87 per cent, to finish at 8,840.01 after a bumpy ride which saw the index hover between
      Reuters  -  1,463 words
    • Article, Illustration
      Lock icon CHINA
      611 22 Reuters n Shenzhen B Index -QjBo SHENZHEN'S B Share Index ended down in sparse trade yesterday, and was expected to maintain the bearish trend this week on expectations of continued absence of favourable news, analysts said. The index slumped 0.80 of a point, or 1.21 per cent, to 65.26
      Reuters; Source: Credit Lyonnsis Securities (Asia) Ltd  -  611 words
    • Article
      Lock icon TAIPEI
      376 22 AFP □wp Index -XUO TAIWAN share prices fell 1.3 per cent yesterday on strong selling of financial shares, with investors ignoring an apparent thaw in cross-Strait ties, dealers said. The Weighted Price Index dropped 90.10 points to 6,819.12. "Losses of financial shares were triggered by reports that the Kuomintangcontrolled
      AFP  -  376 words
    • Article
      Lock icon WELLINGTON
      255 22 AFP n Wellington -9.72 STOCKS ended lower yesterday, reversing earlier gains. The NZSE-40 Index lost 9.72 points to 1,746.12 on turnover worth NZ597.3 million. Brierley Investments Ltd continued to dominate turnover, with 10.2 million shares traded and the stock reversing recent gains to slip five cents to 38 cents.
      AFP  -  255 words
    • Article, Illustration
      Lock icon BANGKOK
      758 22 AFP n SET Index -5J7 THAI shares closed 1.8 per cent down yesterday on regional declines with many investors sidelined amid a lack of strong leads, analysts said. Speculative buying in steel stocks and second-liners failed to offset heavy selling in blue chips such as banks and finance firms
      AFP  -  758 words
    • Article
      Lock icon SEOUL
      407 22 AFP Fl Composite Index -MlO6 SOUTH Korean shares edged up yesterday with late retail buying partially off-setting early losses on profit-taking, dealers said. The Composite Index closed up 0.05 of a point at 346.13, off a high of 347.96 and a low of 340.03. The benchmark corporate bond yield
      AFP  -  407 words
    • Article
      Lock icon SYDNEY
      581 22 AFP Q All Ordinaries -223 AUSTRALIAN share prices closed down 0.9 per cent yesterday after the Japanese market shed early gains and slipped into negative territory, brokers said. The All Ordinaries Index slipped 22.9 points to 2,465.6. The All Industrials fell 43.7 points to 4,281.2 while the All Resources
      AFP  -  581 words
    • Article, Illustration
      Lock icon JAKARTA
      722 22 AFP Q Composite Indei -1(180 INDONESIAN shares yesterday closed 3.4 per cent lower on profit-taking following sharp gains in recent sessions, dealers said. "The sharp rise in the last three days has been extraordinary. It is just logical if the market consolidates," a local dealer said. The Composite Index
      AFP  -  722 words
    • Article
      Lock icon MANILA
      295 22 AFP Q Manila -4X56 PHILIPPINE share prices fell 3.2 per cent yesterday due to profit-taking after the overnight fall on Wall Street, analysts said here. The Philippine Stock Exchange Composite Index fell 43.55 points to close at 1,324.22 points. Volume rose to 1.107 billion shares worth 947 million pesos.
      AFP  -  295 words
    • KUALA LUMPUR STOCK MARKET
      • Article, Illustration
        Shares end flat in absence of fresh leads
        415 23 Q Composite Index -0.82 MALAYSIAN share prices closed barely lower yesterday in the absence of fresh leads to spur trade. "However, there was some speculative buying of second liners. Otherwise, trading was thin and somewhat volatile," a broker said. The Composite Index
        415 words
      • Article
        Untitled
        8262 23 INDUSTRIALS Coamumt priivcti 1990 Last Vol Day Nat Cap wm» Law Csip—y «H 'OOO HH* Law P/I I*— 310 170 Ajinomoto 225 unch 1 225 225 12.4 91.2 V48 35 Angkasa 56 5 unch 3 56.5 55 83.3 290 123 Apollo Food Hlg 188 6.5 75.2 388 108 BarJayaLand 139
        8,262 words
    • WARRANTS & OPTIONS
      • Article
        Untitled
        2412 24 BONOS, LOANS I VARIANTS M 1998 Last V*4 Day Last O**o«t Avq Mlgh Ln My Company tf »f- COOOI High Law 8uyar SaWar Prlca 203 3 3)60 »Acaf ******1 US$ 5.5 *15 220 6 5 5.5 6 95 4.5 3164 Acmj ******4 14.5 *8 6056 18 6.5 14.5 15 6
        2,412 words
      • Article
        Econ wrt: cheap high-risk play
        182 24  -  WARRANT WATCH -By) R Sivanithy LOW-PRICED warrants seem to be a market favourite at the moment nine out of the top 10 percentage gainers yesterday were warrants costing less than 10 cents. Among them is the Econ International warrant which has not been featured much
        182 words
      • Article
        CLOB INTERNATIONAL
        204 24 N0MUM9 STOCKS Or Or 1998 Last V« Day Latf OwM Olv D* *W Mat MC« l— w— twgg rooo) >—■ u» fc»v«r s—«c cw ><— 400 290 5123 CDC C2000) MK 400 400 U U U 205 7744.7 5124 Cattvty Pac 20c HK_720 265.0 2.1 1A 6.0 *****.4
        204 words
    • Article
      STOCK EXCHANGE OF SINGAPORE: MAIN BOARD
      6599 25 Transaction date: Oct 14 Cr Or M Wt ItN Last V«l Day Lm« Ouat. 0I» Dl» W "J Cap A»g HH» I— WW Clip any fOOO) W» Lew l»»f 8e8ar Cw f/i W Ww MUiThMOUSTtY WTTiWfttTIPI 142 4915 mt lOOO Acme 50c 75.5 *20.5
      6,599 words
    • Article
      SESDAQ
      1163 25 Or Gr mm 1998 Last Val Day Last Ouata Otv Mv VM MM c«a Av« H# L— tm» C—p—y Ml rOOOt 9*01 L— l»>» Mir CV P/I W Mm 243 30 a 2049 'ASAutalOc 69.3 -03 3499 74.5 69.5 69J 72 1X0N 7.0 2.2 6.6 79.4 69 82 45
      1,163 words
    • STOCK EXCHANGE OF SINGAPORE
      • Article, Illustration
        Untitled
        276 26 Sticks Votanw Van der Horst 21.234,000 UriCO MdgslOc *****.000 Hestie Mdgs25c 16,301,000 Eneruve 10c 10,410,000 Kappei LandSOc 9,680.000 Amtek Engg 20c 9,555.000 MngTai2Sc 9,386,000 HotoiPrap 9.290.000 SM SUNK* 10c 8,874,000 AdM 50C 8,705,000 Stocks DBS Foreign 18,616,350 SJA Foreign 17,325.490 City Dev 50c 16,896,260 SinqT«l 15c 13,650,070 SPH 13.236.242 0C8C
        276 words
      • Article, Illustration
        Eyes turn to penny stocks as STI loses grip on 1,000
        674 26  -  STOCK MARKET COMMENTARY No decent overseas leads for market, bat low-priced stocks spring to life with some chalking op gains of as much as 200% By R Sivanithy [SINGAPORE] The absence of any decent leads from overseas led to
        674 words
      • ON THE GRAPEVINE
        • Article
          May I be fired?
          84 26 TALK about not being grateftil for still having her job. A source at Merrill Lynch in Singapore—who wasn't among those to be retrenched—said she wouldn't mind getting the axe. The reason; The severance package turns out to be pretty handsome from aB accounts. According to various
          84 words
        • Article
          According to Woody Allen ...
          138 26 According to Woody Allen REMEMBER our item about how Hongkong's top finance man was waxing lyrical with quotes from the Bible recently? Well, Donald Tsang, the I Financial Secretary, has done ttngain iQtite time quoting from the no t so-diviisa Woody Allen. In his speech at his alma mate, Harvard
          138 words
        • Article
          That's the sprit
          101 26 HOTEL Properties is reopening —or in its own words "relocating"—its Blackjack boutique. Printed in black block tetters on an orange strip on the envelope were the words:"WE AIHT GONNA TAKE THIS LYING DOWN". Just a few months ago, the group said the 7,300 sq ft occupied by
          101 words
        • Article
          Faxes not included
          137 26 competition will make salespeople sit up quite. A saleswoman called a journalist, discount atfood and service outlets- Bat asked to fax the details over, sh**;.. jj|. says: "We're a telemarketing company, WO don't fax." "But if I do apply for the card, you'd still have to fax
          137 words
      • Article, Illustration
        HOT STOCK
        72 26  -  -by Shiv Taneja ENERSAVE Holdings closed four cents higher yesterday at 29 cents on a huge volume of 10.4 million shares, compared with its 10-day traded average of just under one million shares. The counter is headed into overbought territory, and could come under some selling pressure in
        72 words
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      133 17 VOO T MOVADCT^^B^ iHk Vizio Chronograph. V stainless steel. Stopwatch. Push-button k Tp deployment. Sapphire crystal. Water to 50 meters. jj Sii^k V Ir Mf\i' 0 K^r &J) _^W J* 3 Movado Service Centre: 7~ lei: 734 3833 Fax: 734 9796 j— /> irF^B J v/jp http://www.vizio.com Authorised dealers: 0
      133 words
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      57 18 This announcement appears as a matter of record only COURTS (SINGAPORE) LIMITED (Incorporated in the Republic of Singapore) 5515,000,000 Principal Amount of Unsecured Floating Rate Notes Due 2001 with 5515,000,000 Standby Revolving Credit Facility Lead Manager Arranger THE DEVELOPMENT BANK OF SINGAPORE LTD Facility Paying Agent ©DBS BANK THE DEVELOPMENT
      57 words
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      Page 19 Advertisements Column 1
      166 19 To celebrate the festival of n lights, carpet experts Edmund and Shukor invite you to a very special auction. Where you jmm mm can pick up some breathtaking M, 1 p. masterpieces from the carpet weaving regions of Central Asia J J and take home the exotic artifacts Jfl jT
      166 words
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      Page 19 Advertisements Column 2
      71 19 Flic ultimate measure of earn moment I otirmllon I roi> Pouts il or C lirouo£t\iplic f 3 x V %s£9kJßHs H :uA Xfy&WLM- N|Mjy3rSfer GP Girard-Perregaux Mamufacture depcjis 1791 Pictured: Model 901 50.0.5 1 81 78 Tourbillon Chronograph with three gold bridges Available at all authorised retailers Exclusive Distributor: BMI
      71 words
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      6 22 TO ADVERTISE CALL TOLL-FREE 1800-741 1883
      6 words
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      Page 22 Advertisements Column 2
      113 22 NOTICE IS HEREBY GIVEN that, I SHEILA THERESA K. S. of Blk 419 Bedok North Street 1 #07-154 Singapore *****9, have applied for a Public House, First Class (Extended) Licence in respect of M/s Latin Cafe Wine Bar Pte Ltd located at 31 Boat Quay Singapore *****6, and that this
      113 words
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      Page 22 Advertisements Column 3
      111 22 NOTICE IS HEREBY GIVEN that, I TAN HONG CHYE of Apt Block 311 Yishun Ring Road *11-1280 Singapore *****1, have applied for a Retail Liquor Shop Licence in respect of M/s Joy Mart Enterprise located at Block 351 Woodlands Avenue 1 *01-719 Singapore *****1, and that this application will be
      111 words
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      Page 22 Advertisements Column 4
      112 22 NOTICE IS HEREBY GIVEN that, I LAI TIAN SENG of 49 Toa Payoh Lorong 5 *10-79 Singapore *****9, have applied for a Public House, Ist Class (Extended) Licence in respect of M/s Kabuki Entertainment Pte Ltd located at 131 Killiney Road *01-01/02/03 Orchard Grand Court Singapore *****1, and that this
      112 words
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      Page 23 Advertisements Column 1
      114 23 LIQUOR LICENCE NOTICE NOTICE IS HEREBY GIVEN that. I TAN YINGYUN of Blk 74 Whampoa Drive #07-334 Singapore *****4, have applied for a First Claw Beer House in respect of M/s LPS Kopltiam (Severn) Pte Ltd located at No. 51 Bras Basah Road #01-03 Plaza By the Park Singapore *****4,
      114 words
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      Page 23 Advertisements Column 2
      112 23 NOTICE IS HEREBY GIVEN that, I NG SIEWTHOE of Blk 139 *04-114 Yishun Ring Road Singapore *****9, have applied for a Public House, First Class Licence in respect of M/s RA Cam Pub located at Unit #01-01, Hotel Grand Central, 22 Orchard Road/ Cavenagh Road Singapore *****7, and that this
      112 words
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      492 24 TO ADVERTISE CALL TOLL-FREE 1800-741 1883 NOTICE IS HEREBY GIVEN that, lANG WAN LEE of Blk 34, Upper Cross St. #05-154 Singapore 0105, have applied for a Beer House, Ist Class licence in respect of M/s Clarke Quay Pte Ltd located at 3E River Valley Road #01-13 Singapore *****4, and
      492 words
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      Page 24 Advertisements Column 2
      338 24 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 90 COUNTWELL INVESTMENTS PTE LTD MEMBERS' VOLUNTARY UQUIOATION At an Extraordinary General Meeting oI the Company convened and held at 133 New Bridge Road #09-09, Chinatown Point. Singapore *****3, on 7 October 1998, the following resolutions were duty passed: 1. SPECIAL RESOLUTION
      338 words
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      Page 24 Advertisements Column 3
      300 24 NOTICE IS HEREBY GIVEN that, lINDRANI w/o DHARMARAJAN of Blk 746 Jurong West St. 73 05-107 Singapore *****6, have applied for a Retail Beer Shop Licence in respect of M/s Papu Store located at Blk 411 Yishun Ring Road ♦01-1825 Singapore *****1, and that this application will be considered by
      300 words
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      Page 24 Advertisements Column 4
      952 24 Tai Sin TAI SIN ELECTRIC CABLES MANUFACTURER LIMITED (Mcopanaed M the Rqmbkc of Smp^ort) 24 Gul Crrscmt Jurong Town Smraporr *****1 Tet (65) 861 *401 Far (65) 861 4084 E-MatL maUmclVußbuomjf NOTICE IS HEREBY GIVEN that the Annual General Meeting of Tai Sin Electric Cables Manufacturer Limited wM be held
      952 words
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      27 25 wT ,<-1* View the collection at I tOY lASTIRN WATCH, LUCKY PLAZA, *01-36/37/33 ORCHARD ROAD TILi 734 3139 DILUXI lASTIRN WATCH, CINTRIPOINT, *01-13/30 ORCHARD ROAD TILi 339
      27 words
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      Page 26 Advertisements Column 1
      325 26 TO ADVERTISE CALL TOLL-FREE 1800-741 1883 NOTICE IS HEREBY GIVEN that, I, Kow Ngiok Eng of 13 Chepstow Close Singapore *****7, have applied for a Ist Class Beer House Liquor Licence in respect of M/s D'lN Plaz Beer Pub Restaurant located at 9 Mosque Street Singapore *****9, and that this
      325 words
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      Page 26 Advertisements Column 2
      462 26 THE COMPANIES ACT. CAP 50 UVERLAND REALTY (S) PTE LTD (In Liquidation) At a general meeting of UVERLAND REALTY (S) PTE LTD duty convened and held on the 14th day of October, 1998 the following special resolution was passed: SPECIAL RESOLUTION That the Company be wound up voluntarily pursuant to
      462 words
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      Page 26 Advertisements Column 3
      406 26 NOTICE IS HEREBY GIVEN that, I TAN AH THAI of Bik 223, Serangoon Avenue 4 *07-183, Singapore *****3, have applied for a Public House Ist Class Licence, in respect of M/s The Heart Music Lounge located at 45/47 Joo Chiat Place, Singapore *****9, and that this application will be considered
      406 words
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      Page 26 Advertisements Column 4
      191 26 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF APPAREL ORBIT PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) FINAL MEETING NOTICE IS HEREBY GIVEN. pursuant to Section 308 of the Companies Act. Cap. 50, that the FMAL MEETING of the members of the abovenamed Company will
      191 words
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      Page 26 Advertisements Column 5
      383 26 IN THE MATTER OF THE COMPANIES ACT. CAP. 50 Pursuant to Section 290 (2Kb) SPORTS AND HEALTH PTE LTD (In Members' Voluntary Winding-Up) At an Extraordinary General Meeting •f the aforenamed Company daly convened and held on ith October 1991 the following resolutions were 1»l) p—4 AS SPECIAL RESOLUTIONS: (1)
      383 words
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      Page 26 Advertisements Column 6
      423 26 NOTICE IS HEREBY GIVEN that, I TAN GANG OU of Blk 311 Tampines St. 33 *12-08 Singapore *****1, have applied for a Retail Liquor Shop Licence in respect of M/s Elika Store Enterprise located at Blk 210 Marsiling Crescent #01-11 Singapore *****0, and that this application will be considered by
      423 words
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  • SHIPPING TIMES
    • Article
      Lock icon FREIGHT MARKET
      329 27 Bridge News Reuters A FEW Panamax grain cargoes have been fixed from the US Gulf, but details could not be confirmed. There was talk of a Nov 1-12 cargo on the US Gulf to Japan route being covered at U5514.25. TANKERS: Trade was active for Aframaxes in the
      Bridge News; Reuters  -  329 words
    • Article
      MARITIME STOCKS
      281 27 i a CW7 Distribution 0.315 *0.03 121 Clwon Hup 0.375 *0.01 177 Cosco invostmont .0.42 *0.015 47 Freight Links 0.16 *0.01 3682 G8 Holdings 0.305 ♦O.OB >05 Hal Sun Hup 0J4 *0.01 664 HKacNZoMn._0.52 *0.005 61 IMC Holdings—HK 5.60 Jay* Holdings 0.465 *0.03 SO Jurong Shipyard—6.50 -0-30 70
      281 words
    • Article, Illustration
      Lock icon Logistics firms urged to continue upgrading
      461 27  -  Don't' be thrown off course by Asian crisis, says minister at logistics seminar By] Marcus Hand [SINGAPORE] Companies should not be thrown off course or be paralysed by the effects of the Asian crisis, Minister of State for Communications John Chen said yesterday. "Companies
      ARTHUR LEE  -  461 words
    • Article, Illustration
      Iarossi well-placed to lead ABS into new era of maritime safety
      658 27  -  SHIPSHAPE By Felix Chan HAVING been in four Asian cities in four days, Frank larossi shows nary a hint of weariness, looking like he'd just stepped out of the elevator to his 106 th floor office at New York's
      658 words
    • Article
      Taca puts off posting of 1999 rates till mid-Nov
      388 27  -  By] Felix Chan [SINGAPORE] Member container lines in the Trans-At-lantic Conference Agreement (Taca) have delayed publication of 1999 rates for at least a month as it grapples with the twin issues of deregulation in the US shipping industry and the imposition
      388 words
    • Article
      Lock icon Kvaerner chief executive steps down
      258 27 Bloomberg [OSLO] Kvaerner, Europe's largest shipbuilder, said chief executive Erik Tonseth will step down at the board's request. Mr Tonseth has accepted the proposal and will leave the board immediately, the company said. Chairman Christian Bjelland will act as interim chief executive until a successor
      Bloomberg  -  258 words
    • Article, Illustration
      Lock icon Airline working on alliances
      519 28  -  AIR FRANCE After a debilitating pilots' strike in June, the French airline is trying to catch up with the rest of the industry Reports by Felix Chan SI D E TRACKED by a debilitating pilots' strike in June, a rejuvenated Air France returns to an industry
      FILE PHOTO  -  519 words
    • Article
      SHIPPING SCHEDULES INDEX
      243 28 PAGE tyak Lloyd 8 ACL 6 Dongnama 3 ANL 3 ECl 5 Accord 8 Ewgreen 6 Appenship 5 rooo< Sur 8 a Astro 3 CUnk 4 Austral 8 Gemartrans 8 BSA 7 H* Sun Hup 8 B'tang Mas 8 Hangli 7 CCNI 7 H n 3 CMA
      243 words
    • Article
      For Changi Airport, bigger planes, a new lounge
      216 28 [SINGAPORE] Air France will be boosting capacity on its services between Paris and Singapore with the introduction of Boeing 777-200 aircraft in place of the current Airbus A 340 aircraft. The 270-seat aircraft will offer an additional six seats in first class
      216 words
    • Article
      SHIPPING GUIDE
      19048 35 THEBUSINESSTIMES THEBUSINESSTIMES EXPORT ETA ETA Advertiser Vassal Voy»g» Talaphona ETA ETA Advartisar Vassal Voyaga Talaphona SIN Dast'n Sim* Kim Number Number SIN Dastn Nam# Nam* Numbar Numbar mmammmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmsm To BUENOS AIRES (BUE) 2060 Argentina To ABIDJAN (ABJ) 2003 Cote D'I voir* 23/n n/n cosco maple river oosa* 45-*****00
      19,048 words
    • SHIPS IN PORT
      • Article
        CONVENTIONAL WHARVES
        807 39 Vessel Voy No Berth Arrival Departure Juring Port kmprosia 2298 J12 alongside 15)0/2359 Angiang 2 6/98 J03 alongside 14 )0/1800 BatulKin 024 JW alongside 1410/0600 Saltan Mutyl >***** J02 alongside 1410/2300 8lue Vega 4A J05 alongside 1510/1500 BtCahlndra *****8 JO) alongside 14 10/2230 Bt Hand) Jay 34)098 JO)
        807 words
      • Article
        CONTAINER SCHEDULES
        1866 39 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Booklng/BoUnce Rstls Ship Voy No Etb/Btr Period From To From Ac i lily 009t 17/800 M M/BOO K/»59 I4/B00 It m/boo M/1659 M/BOO 2A M/1700 15/0*59 15/0900 2t M/1700 15/0*59 15/0900 3 15/0700 15/1159 B/MOO 4 15/1200 15/1459 15/1700 W
        1,866 words
      • Article
        GLOBAL HOLIDAYS
        192 39 Oct 19 Malaysia: Deepavali. Singapore: Deepavali. Oct 23 Thailand: Chulalongkorn Day. Oct 26 Austria: National Day. Ireland Republic Of: October Holiday. New Zealand: Labour Day. Oct 28 Greece: Oxi Day. Oct 31 Finland: All Saint Holiday. Sweden: All Saints Holiday. Taiwan: Birthday of President Chiang Kai-Sek. Nov 2
        192 words
      • Article
        COCKETT BUNKER MARKET REPORT
        984 39 THIS report, compiled by Cockett Marine OH Ltd. •hows price ranges In US dollars instead of single prices for a more comprehensive description of the market Prices shown are baaed on average-staed stem Market movements are indicated The Cockett Bunker Price Index change and the Individual
        984 words
      • Article
        VERITAS BUNKER QUALITY REPORT
        565 39 Carbon 180 Max 992.0 2.8 17.7 O K 342 0.07 Oct 8 Density Water Residue Ash Aluminium Sediment No above E25 1 4 10 3 3 0 ***** 380 Ave 987.6 OJ 16.0 0.07 27 0.03 bm 380 Mil 996.0 0.9 19.8 0.12 154 0J1 06/M-3
        565 words
    • AIR & LAND TRANSPORT NEWS
      • Article, Illustration
        Lock icon Low demand, credit woes delay PAL's int'l services
        544 40 Postponement of int'l operations will result in deeper losses for carrier Reuters [MANILA] Low bookings for its international flights and a tug-of-war with lessors and creditors have forced flag carrier Philippine Airlines Inc to keep out of foreign skies longer, PAL executive
        Reuters  -  544 words
      • Article
        Lock icon Cathay Pacific close to buying 40% of Philippine carrier: Estrada
        192 40 Bloomberg [SINGAPORE] Cathay Pacific Airways is close to buying 40 per cent of resurrected Philippine Airlines, Philippine President Joseph Estrada said. Mr Estrada, in Singapore for a state visit, said negotiations between Cathay and Philippine Airlines management for the buy-in
        Bloomberg  -  192 words
      • Article
        Lock icon Air France, pilots close to deal on equity stake
        362 40 Bloomberg [PARIS] Air France said a pact with pilots on wage cuts for shares is "more than likely", within eight days, paving the way for a 4 billion-franc (SSI.IB million) share sale in Europe's third-largest airline. "We agree on the principles
        Bloomberg  -  362 words
      • Article
        Lock icon BA may take up 8% of Iberia
        157 40 Reuters [MADRID] Spain said that talks with British Airways and American Airlines over their purchase of 10 per cent in national airline Iberia could end with BA buying 8 per cent and American, 2. "We would view favourably that British took a bigger
        Reuters  -  157 words
      • Article, Illustration
        Lock icon Boeing sells 4 stored MD-90 jets to EVA unit
        449 40 Bloomberg [SEATTLE] Boeing Co said it sold four MD-90 jetliners valued at about US$2OO million (Ss32B million) to a unit of Taiwan's EVA Airways Corp, trimming a backlog of aircraft stored for Asian customers unable to pay for them. The planes
        Bloomberg; FILE PHOTO  -  449 words
      • Article
        Lock icon Global agency needed to regulate airlines: BA chief
        227 40 Bloomberg [LONDON] The world's airlines should be overseen by a single global agency that could apply regulations uniformly, said Robert Ayling, chief executive of British Airways pic. Mr Ayling's comments come as British Airways' proposed alliance with AMR Corp's American Airlines has
        Bloomberg  -  227 words
      • Article
        Lock icon FedEx pilots to decide on strike vote on Sunday
        312 40 Bloomberg [MEMPHIS, Tennessee] FedEx Pilots Association leaders, discouraged by contract negotiations, will vote this weekend whether to mail members ballots on a strike at FDX Corp's Federal Express, the world's top airfreight company. Union directors will meet on Sunday in Memphis,
        Bloomberg  -  312 words
      • Article
        AIRCRAFT ARRIVALS AND DEPARTURES
        1636 40 CITY FLIGHT ETA FLIGHT ETC S025 0640 S***** 1120 At* Dtubi CV794 2030 LH788 0S3S IH6375 1345 ttttt- MrM ma trMT Tim so2001 0835 S0326 1345 W#UW# ""J" LH778 1610 Of05 2235 wo W457B **> 0,6373 2350 ***** 2350 Mga 2220 OF 06 1845 LH779 23M
        1,636 words
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      761 28 r IMPORT I I NORTH AMERICA I QULF/INDIAN SUB-CONTINENT SUPER SHUTTLE EXPRESS ———J IOULF KARACHI EXPRESS (QKX) I VKSEI VOTAGE Id VESSEL I VOY JEA DMN IAM I OND I KAR I COl I PKG SIN 00aMPWI 27W539 30/09 11/1# PtO MDUOYDIAHR AJN 071 30/09 02/10 02/10 04/10 00/10 13/10
      761 words
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      Page 28 Advertisements Column 2
      776 28 A Members of Ihe 2»©B Members C Registry of f«rsna.® Sogapore Fnaght Forwarders Accredited Shipping Agents, Association Singapore Shipping Association CONTAINERS/CONVENTIONAL CARGO FROM PORT KLANG/SINGAPORE JAKARTA ETA PKL ETA SIN ETA MALE Princess Uly V 9598 13/11 15/19 22/11 Princess Lily V 9698 92/11 94/11 12/11 ULY MARINE SERVICES SINGAPORE
      776 words
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      1117 29 SAX SERVICE (DIRECT) Ivcsa VOY UX (MK DAI MOM CM CO! MM HI NYC mgm pott 14/iq 29/iq w/n 02/11 03/11 w/11 10/11 iQ/n 11/11 11/11 j AftGAMP 006£ 21/10 05/11 09/11 09/11 10/11 09/11 10/11 10/11 11/11 11/11 aw sue ootf 2s/io 12/11 16/11 16/11 17/11 16/11 17/11 17/11
      1,117 words
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      Page 29 Advertisements Column 2
      1948 29 <g)HANJIN SHIPPING HANJIN SHIPPING (S) PTE LTD I#.im lOOUNG 32(0735-737 SALES *****74 231 MOMENT ********** OPERATORS; 32M1M1-252 MAM UK: *****55 fAI: 7729H0 QMh **********0 M TO NW USA CANADA USA CANADA* FORVSL/VOY I IAM I SM UNEHAUL/VOY SU TTW DEN PW 00 ISP PTT WT MM PM Wfl YVR VU
      1,948 words
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      Page 29 Advertisements Column 3
      286 29 Accepting Breokbulk Cargo Vessel ETA Sin Discharge Ports Windfall 25 October Aden, Port Sudan, Alexandria Enquiries for other Red Sea and Mediterranean parts are welcome. ban u *****25 MantK hrfa fci >yrtn Mi Wd JAMM PORTS 1... ,„T7M/,7.«i. nTZTitTZ* MOSNNIA(NUIIANAZNW(UZjJWZUW(MiI MGttt(DJl SAKAMIUK) ■W" *****12/*****16 PvtOa) (M) 6W567JJ6 fa) 63-*****42 TOtIfSMIKU
      286 words
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      Page 30 Advertisements Column 1
      1286 30 DSR-SENATOR LINES TO UK/CONTINENT TO RED SEA/MEUnt^iRANEA^CANADA VtSttL I VOY I SIM jUN 1 HTM I AMU HAW OCT HX VttgL WY SMI MT SH FOt M.C MTU CHOYAMG ATLAS WWO42 tj.ll 3t It Mll Kll Mil Mil Hll PATIOOt SfMATOH WMO4S 11.11 Mil ot.ll ■11 *.11 tt.ll HAJUNKHUJNG WQMS
      1,286 words
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      Page 30 Advertisements Column 2
      1073 30 MAC-NELS S'PORt wm I Carrier: MN CONTR LINES, INC P. QUOANG: (07) *****26 f ~IV/\~ J OR NO, iaOM7MOOO> SIBU: (064) *****9 MAMLA: (632) *****24 V PENANG: (04) *****36 BANGKOK: (662) *****67 SURABAYA: (31) *****0 P. KELANG: (03) *****77 JKT: (21) *****07 MPN: (61) *****3 KUOWNQ (062)*****1-3 GENOA MV "ENCOUNTER
      1,073 words
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      Page 30 Advertisements Column 3
      632 30 LINE Sy TIL: *****56 fAXt *****12 MUARA LABUAN vcsa vot no ra vissa m in m SPOMMUARA srott un STRAITS HOPI rm/n 21/10 24/IO STMITS HOfl VW/90 21/1* 25/10 CARAMJNB-nVIX/W 24/10 27/10 CAIAKA JNB-I? VIS/M 24/10 21/10 STtAfTSHOff V3OI/W 31/10 03/11 STMITS HOfl V3OI/W 31/10 04/11 OUMKA JNB-32 VI4I/00 04/11
      632 words
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      Page 31 Advertisements Column 1
      1429 31 [VESSEL VOY SIN SIP PKG j PEN PQB DUB SHJ IBA I BIK I IRAN QHEYAMAT PJL 1307 18/10 27/10 31/10 IRANVAHDAT PJL 1317 22/10 17/10 I 31/10 01/11 04/11 PQB- Mini Qaboos DUB Dubai. SHJ Stiarjah, BA Bandar Abbas. BIK Bandar Imam Khomeini ACCEPTING CONTAINER/BREAK-BULK SHIPMENTS TO INLAND POINTS
      1,429 words
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      Page 31 Advertisements Column 2
      2756 31 TO 1 IN 13 DAYS I EVERY THURSDAY I I SINGAPORE'S GENERAL AGENTS: 6 SHENTON WAY TEL 226 1900 FAX: *****04 OUTWARD (B/L) 4205*02 JOHORE OFFICE; COSTAR SHIPPING PTE LTD #i 7 08DisiLDG SAIES/IKGS *****57/60 inward DEPT (D/OJ *****85 COSTAR AGENCIES (M) SDN BHD CR MO: **********00 TOWtR TWO (*****9)
      2,756 words
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      Page 32 Advertisements Column 1
      1425 32 EUROPEAJKySCAHDINAVIA/FINLAHD/RUSSIA S6P RDM ANW HBG THP ZEE LHV LHV THP RDM A*W HBG PKL S6P I DEVELOP RW-003 17/11 06/11 11/11 #7/11 W/11 10/11 11/11 E ROYAL RE-039 24/00 20/W 25/09 28/09 29/09 22/10 23/10 E DECENT RW-006 28/10 13/11 10/11 14/11 10/11 17/11 10/11 E RACER RE-024 01/10 03/10
      1,425 words
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      Page 32 Advertisements Column 2
      1079 32 ADVANCE CONTAINER LINES (PTE) LTD A A I Z 140 Cecil Street #12-00, PI I Building, Singapore *****0 L Z TEL: *****21, FAX *****19, TELEX RS ***** ACLPL CR NO. **********0E OPERATIONS: *****6 a *****05 BANGKOK T JAKARTA |M>M>IY 5 sin POT/2 Sl|l LCH/1 »H MIT) VESSEL VOY SM BKK
      1,079 words
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      Page 32 Advertisements Column 3
      647 32 NANTAI LINE FUUY CONTAINERISED SERVICE TO MAURITIUS SOUTH AFRICA vessel I vot |sm pui low 1 jm» 1 oTpo" NANTAI PRINCESS ¥.024S 17/10 31/10 03/11 04/11 NANTAI QUEEN V.030S If/10 21/10 li/fT Wl" OS/iT Oft NANUI WAGON YOOfS 77/10 OS/11 09/11 12/11 13/11 I NANUIftINg KO2SS 03/11 14/11 11/1) M/ll
      647 words
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      Page 33 Advertisements Column 1
      442 33 BSA x MK MYANMA ISBBk FIVE STAR LINE (MyaNNior National Lino) Loading for Yangon (Rangoon) VESSEL VOY SIN PKL PEN PGU MAWLAMYME 00W SLD PWYA 157 SLD MALAYSIA AGENTS: OOUSTEAD SHIPPING AGENCIES KUk TEL (03)*****00 PKL: m (03)*****01 PEN: TEL (04)*****02 PGU: TEL (07)*****21/4 BANK LINE (A servict of Andrtw
      442 words
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      Page 33 Advertisements Column 2
      1607 33 HYUNDAI MERCHANT MARINE CO., LTD. I SJN I SOU L£H WW MIT HAW RtV FB I [VBSa VOT I SOU I UN I RTM I ANT I HAM I RRV 1 B I I HYCOMMOOORf 31 SW 15/10 02/11 07/11 04/11 OS/11 THAMES SSOC 21/09 24/0* 23/01 24/W 15/10 RHMt
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      966 33 ipeoofaad oukxanan QS&SKS Wilhelmsen Lines TO NORTH AND UTIN AMERICA "RORO HEAVYUFT StRVKI* VfSS£l VOY RAMP HEIGHT SIN LAX CRL MIA SAV OAi OftF NYC NEW MM 1 TOM mV~ 4001 ms 6.3 M ~Wio "WiTWn~"O77TTW7ii~TT7TTii7IT TWWiTWiF" TARONGA F022 4001 ms 6.3* 11/11 10/12 If/12 22/12 24/12 20/12 27/12 21/12
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      867 34 BANGKOK/ MAP U PHUT/ LAEM CHABANQ JAKAWTA/PAN JAMO VESSEL VOV SIN BKK MTP LCH VESSEL VOY SIN JKT PJN BANI BHUM 119N In Pt 18/10 GURU BHUM 9958 In Pt 18/10 MATHU BHUM 385N 17/10 21/10 PEJA BHUM 7C9S 17/10 21/10 RATHA BHUM 3SN 17/10 21/10 20/10 ANRO JAYAKARTA* 057
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      Page 34 Advertisements Column 2
      562 34 p2>HBSH INDONESIA NATIONAL LINE TO EUROPE EXPRESS SEMI-COKTAIWERtSED SERVICE ~wi VOT i SPORE A DAM/IT DAM M lURG IREMEN ANTWERP A VESSEL 20/12 25/12 OMIT 05/01 TO AUSTRALIA I FULL CONTAINER SERVICE vs. voy mi im fffp me. h«a Aa. fri KASUGAI 13S IVISI7/10 2*lo Wit 02/11 (Wll PtO NEOUOYD
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      Page 34 Advertisements Column 3
      1033 34 VFSSPi s VOY SIN JED MLA LEH HAM THP RTM ZEE VH_LE DE TAURUS A29W gyiQ 28/10 02/11 08/11 o*ll 11/11 11/11 12/11 VIUJE D'AQUARIUS U2BW 25/10 04/11 o*ll 15/11 18/11 I*ll 18/11 19/11 VKXE DE AWTARES L2BW 03/11 11/11 I*ll 22/11 2*ll 25/11 2*ll 2*ll VLLE DE VIRGO S2BW
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      32 35 SERVICE DIROCT SERVICE; TO C&LCUTTM to MUARA// Qhio Express Shaping Page 3 Page 5 New Service Direct New Service to To/From Chennai 7| cmttagong Confer Shipping Page 13 (Mon/Wed/Fri) Page 12 (Mon/Wed/Fri)
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      60 37 ■HPH VaUl Sift Dial 740-6000 on demand (Retrieve more schedules!) Press "1" J Select the port and key in the four digit code eg: To New York (NYC) 2275 SJ© Key i n your fax number I STJbjEnter your phone number Another innovative service offered by The document Will be
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      145 38 C FREE Reader Enquiry Service s-c cut out and fax to 65-*****29 BWIIWWwiBiinWTIPBM n 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: 1 ADVERTISER:PRODUCTS/SERVICES Saw an advertisement in Shipping Times
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  • Page 39 Miscellaneous
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      Page 39 Miscellaneous Column 1
      131 39 —rnrn (o; m »v# vTttt— LEGEND: R Thunderstorm Temperoture c W Shower Weather _y Wind direction with speed in knots Ram W Cloudy Sky Wave Sutjoc* »«»ds ore indkoted by arrows which fly with the wmd One fuJ circle represents calm flight and variable winds I One holf Heche represents
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      521 40 I ASIA WESTBOUND RATE AGREEMENT (AWRA) I I NOTICE OF RATE RESTORATION IN THE ASIA/NORTH I EUROPE TRADE FOR FIRST HALF 1999 If In response to requests for earty advice of the 1999 rate programme, the Member Lines of H AWRA have announced the following Rate Restoration plan covering the
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