The Business Times, 27 March 1999

Microfilm: NL21391
Total Pages: 38
1 38 The Business Times
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  • Title Section
    Masthead
    18 1 THE BUSINESS TIMES MIT A friQilfr ling i r i fc 85* SINGAPORE Internet: http://business-times.asial.com.sg/ SATURDAY, MARCH 27,1999
    18 words
  • Article
    MARKET SUMMARY
    58 1 □m 1,417J0 (-2.87) nsr-oi mM BKUB7 (-8.67) nsusa porous Mm* (-0.60) 81WMETMMCBB Friday Change KLSECOMP Mil 4-1.92 NIKKEI 1UNJ9 +JU» HANOSENO lUIUl -tut SET INDEX MM1 +m JAKARTA OOMP _JKJt T88 MANILA COMP tJWI7 +HJM TAIPEI WFI 7jUltt +91.87 SEOUL OOMP 509.79 -U8 CL8A CHINA B iU4? -10.71
    58 words
  • Article
    FINANCE
    75 1 FOKEX BATES usi 1.731 £<US*/S$per£) UM 1816 EU«0(U8»/8SperE) 1.066 1.878 Ml L8U 0.960 YEN .1188 1.468 m 186* ***** HKf 7.741 %m BAirr 1716 6.646 HJPIAH 8366 6.6W 'StfMmU* FUME BATES SINGAPORE* 5.825 KUALA LUMPUR 11.50 JAKARTA .28.00 BANGKOK 14.75 MANILA .22.M HONGKONG 10.25 TAIPEI &M SYDNEY 8.46 TOKTO
    75 words
  • Article
    SES reviewing warrant extension policy following uproar
    730 1  -  Move comes after decision on Freight Links warrants By' Ven Sreenivasan [SINGAPORE] The Stock Exchange of Singapore announced yesterday that it is reviewing its policies on the extension of the life of warrants issued by listed companies, putting in limbo an issue that
    730 words
  • Article, Illustration
    Lock icon Venture Mfg's chief wins Businessman of the Year
    576 1  -  APB's Koh Poh Tiong is Outstanding Chief Executive; JIT wins Enterprise award By' Corinne Kerk [SINGAPORE] Two electronics contract manufacturers and the head of a home-grown brewery received top honours at the 1998 Singapore Business Awards last night. Taking the coveted Businessman
    CHRIS LOH  -  576 words
  • Article, Illustration
    Payson Cha and Wee Cho Yaw playing it cool over UIC
    990 1  -  Imminent fight unlikely as tycoons size each other op By Lee Han Shih [SINGAPORE] Punters betting on a fight between Wee Cho Yaw and Hongkong's Payson Cha for control of listed United Industrial Corporation had better not hold their
    990 words
  • Article
    Room for DBS Bank and just one other: BG Lee
    571 1  -  Not clear which the other will be; govt won't force mergers By i Chuang Peck Ming [SINGAPORE] Apart from DBS Bank, there is room in Singapore for just one other local major bank to grow in the long run, Deputy
    571 words
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      Page 1 Advertisements Column 1
      136 1 inHimu Haw law? Three financial institutions OCBC Bank, Keppel Tat Lee Bank and Keppel Tat Lee Finance yesterday met the move that OUB and UOB made on Thursday, lowering their first-year mortgage rate to a fixed 4%, Pg 4 Pidemco land racked up 1329 m in lossses for the year
      136 words
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      Page 1 Advertisements Column 2
      36 1 RAdm Teo: New moves will transform S'pore, Pg 4 What the winners say Winners of the Singapore Business Awards tell BT what gives them that extra edge. Don't miss our special pull-out. Free with today's BT.
      36 words
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      Page 1 Advertisements Column 3
      34 1 Marco Pok> wins another suit against Ardmore buyers UFullreport, Pg2 UOB profits down 26% Chairman Wee Cho Yaw declares the worst is over Full report, Pg 15 More corporate results MTurntoPgs 15, 16& 17
      34 words
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  • SINGAPORE AT HOME & ABROAD
    • Article, Illustration
      Lock icon Marco Polo wins another suit against Ardmore buyers
      715 2  -  Court orders Indon buyer to pay up 10% instalment plus interest and costs of legal battle By Conrad Raj MARCO Polo Development yesterday won another round in its battle against buyers who sought to walk away from their agreements to purchase apartments
      FILE PHOTO  -  715 words
    • Article, Illustration
      Lock icon Pidemco runs up $329m loss due to provisions
      575 2  -  By] David Boey PIDEMCO Land Ltd said yesterday that it racked up $329 million in losses for the year ended Dec 31, but was optimistic that it would return to the black in 1999 as massive provisions had allowed it to start
      ARTHUR LEE  -  575 words
    • Article, Illustration
      Lock icon Big jump in new handphone users in February
      457 2  -  By' Teh Hooi Ling THE two mobile phone operators in Singapore harvested a bumper crop of new subscribers in February with both taking in almost an equal number of new users following their aggressive price cuts last month. The latest numbers from
      Source: TAS  -  457 words
    • Article, Illustration
      Lock icon Feb output and the calendar effect
      737 2  -  EYE ON THE ECONOMY By, Anna Teo THERE is much interest in the indicator being released this long holiday weekend the February manufacturing number. Will it further the recent divergence from the trade figures, or as is widely expected will it succumb to the
      Source: EDB/TDB  -  737 words
    • Article, Illustration
      Lock icon New Mobil billing gadget: No cash cards or queues
      306 2  -  By Christopher Tan CASHLESS and cardless. That's Mobil Speedpass, an automated billing system that allows the motorist to refuel and drive off without having to reach for his wallet. A pager-size transponder mounted in the vehicle activates the pump, and the
      ARTHUR LEE  -  306 words
    • Article
      EDB's challenge in the next decade
      273 2  -  By Eugene Low THE Economic Development Board's (EDB) key task in the next century is to work with the National Science and Technology Board and other government agencies to turn Singapore into a "globally competitive, advanced knowledge economy" within the next decade, said Deputy
      273 words
    • Article
      3 more cut 1st-year home loan rates to 4%
      613 4  -  OCBC, Keppel Tat Lee and its finance unit match move by OUB, UOB By i Clarissa Tan THREE financial institutions OCBC Bank, Keppel TatLee Bank and Keppel Tat Lee Finance yesterday met the move that Overseas Union Bank and United Overseas
      613 words
    • Article
      RAdm Teo: New moves will transform S'pore
      304 4 SINGAPORE will be a very different place by the next decade when several new initiatives being undertaken now come to fruition, Education Minister Teo Chee Hean said at last night's Singapore Business Awards dinner. Among the initiatives are the moves to transform Singapore
      304 words
    • Article
      Smartcard giant Gemplus unveils first 'combicard'
      155 4 SMARTCARD giant Gemplus has launched the world's first "combicard" a breakthrough technology that packages the features of contact and contactless cards, allowing wider and more flexible applications. For instance, the same card could be used for electronic road-pricing payment (contact), bus and train rides
      155 words
    • Article
      S'pore still competitive but faces challenges: IMF
      387 4  -  Fond calls for more transparent fiscal, monetary policies By. Anna Teo IN an endorsement of Singapore's macroeconomlc policies, the International Monetary Fund (IMF) yesterday said the Republic remains competitive but warned that challenges lie ahead. It also urged greater transparency in fiscal and
      387 words
    • Article, Illustration
      Lock icon Nordic bank may be back for more
      344 4  -  By Louis Beckerling NORDIC Investment Bank (NIB) may return to Singapore before the end of the year to make another Singapore dollar bond issue, said the bank's president and CEO, Jon Sigurdsson. Speaking at the signing ceremony here yesterday for two bond issues
      SIEW YAW HOONG  -  344 words
    • Article
      Pay-as-you-bid not ideal
      499 4  -  wn.mn Chay Wai Chuen Chairman, Government Parliamentary Committee (Communications) I REFER to Philip Toh Kee Poon's letter "Pay-as-you-bid helps transparency" (BT, March 23). It is not true that the pay-as-you-bid (PAYB) system is the only transparent and responsible way to conduct an auction. There are many types
      499 words
    • Article
      COE is a form of tax
      148 4  -  John M Carter Singapore I SYMPATHISE with all those who advocate a pay-as-you-bid system for COEs but they ignore the fact that the COE system is taxation of car ownership and governments do not organise taxation systems to minimise a tax. There are two
      148 words
    • Article
      Criticism of DBS Land undeserved
      826 4  -  Deborah Tsui Singapore *****2 I FOLLOWED the Peter Leesinsky vs DBS Land saga with great interest and would like to offer some viewpoints. Mr Leesinsky opened the first salvo, accusing the management of DBS Land of giving an off-target forecast. The management responded by saying
      826 words
    • Article
      SingNet can handle traffic
      273 4  -  Foo Kim Leng (Ms) Corporate communications manager Singapore Telecom WE refer to the letter "Can Sing Net cope with higher traffic" by Phuah Soon Ek (BT, March 24). As the key player in the Internet industry in Singapore, Sing Net has not only focused on giving
      273 words
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      188 3 SINGAPORE BUSINESS AWARDS 19 9 8 Hon oure d /y for their 111 EV y fl :^^mw #1 »K vC Vi^HnQß m T u i'M *h3i i\ iM Am v™».l te-J UmMMmL^cMIE/L() HM »tf From kft. Mr Tommie Goh of JIT Holdings, Mr Won# Liow# of Venture Manufacturing, RAdm (NS)
      188 words
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      63 4 book-entry Government 1999 due 1 April 2001 ■to be issued on 1 April 199fl|H| Tenor approx. 2 years Amount Offered Allotted *****,000,000 J Amount Applied 551,963,675,000 r-%4 ■Efefefefl Interest/Coupon Rate 1.875% p.a. Average Yield Price 'J: on Allotment 1.91% p.a. and 99.932% gjßllfl| Cut-off Yield and Price 2.00% p.a. and
      63 words
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      Page 4 Advertisements Column 2
      4 4 Pro# John Ka.j'm 8
      4 words
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  • ASIA'S ECONOMIC SLUMP
    • Article
      World Bank approves US$600m loan for Thais
      384 5  -  But it cautions against complacency in reform efforts From Harish Mehta in Bangkok THE World Bank yesterday approved a US$6OO million (Ssl billion) loan to jumpstart Thailand's economy but warned against complacency in the reform drive. The bank said that recent encouraging signs
      384 words
    • Article, Illustration
      Lock icon IMF okays extra US$1b Indon loan, says worst may be over
      690 5  -  Upturn in economic activity could start in the second half of this yean Fischer From I Shoeb Kagda in Jakarta THE International Monetary Fund (IMF), citing satisfaction with Indonesia's implementation of its economic reform programme, has approved an additional
      AFP  -  690 words
    • Article
      Lock icon US$1.4b more from Japan
      100 5 Reuters Bloomberg, [JAKARTA] Indonesia yesterday said the Export-Import Bank of Japan granted it a loan of US$l.4 billion (552.4 billion) to help it fix its devastated economy. The loan is part of the US$5O billion bailout package cobbled together by the International Monetary Fund, the Indonesian
      Reuters; Bloomberg,  -  100 words
    • Article
      Goldman Sachs sees 2% GDP growth
      347 5  -  Two views on Malaysian economy Economic predictability and political stability improving, it says From! Diana Oon Abdullah in Kuala Lumpur US-BASED financial services and research house Goldman Sachs has forecast 2 per cent gross domestic product (GDP) growth in Malaysia for this year on
      347 words
    • Article
      Lock icon It's going to be flat say economists
      475 5 AFX-Asia [KUALA LUMPUR] Malaysia is expected to see flat economic growth in 1999, with a marginal expansion or contraction of 0.5 per cent at most as output in key industries continues to be sluggish given persistent weak export and domestic demand, economists said.
      AFX-Asia  -  475 words
    • Article
      Lock icon Japanese investors turning to mags for market tips
      401 5 Analysts say this is a sign the long bear market is ending Reuters [TOKYO] Individual investors encouraged by a recent rise in Tokyo stocks are hitting the books magazines actually for tips on how to join the bullish run. "Sales have sky-rocketed
      Reuters  -  401 words
    • Article, Illustration
      Lock icon Sakakibara calls for Asian currencies to be pegged
      646 5 Bloomberg Reuters [MELBOURNE] Eisuke Sakakibara, Japan's vice-finance minister for international affairs, warned that the turbulence in financial markets is not over yet, and called on re-cession-hit Asian countries to peg their currencies to a basket of other currencies. Speaking to the Manila
      Bloomberg; Reuters; REUTERS  -  646 words
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  • REGION
    • Article
      Lock icon Habibie apologises to Aceh for abuse of rights
      325 6 BANDAACEH Reuters INDONESIA'S president yesterday apologised to the restive province of Aceh for years of human rights abuses, as thousands of protesters demanding self-rule clashed with police and soldiers. "I deliver an apology for what has been done by the security forces,
      Reuters  -  325 words
    • Article, Illustration
      Lock icon New virus maybe cause of most deaths
      423 6 KUALA LUMPUR JE confirmed only in 18 of 62 deaths, say experts AFP A NEW virus may be responsible for most of the 62 deaths in a pig-borne encephalitis outbreak in Malaysia, health officials and foreign experts said Friday. They said only 18
      AFP; REUTERS  -  423 words
    • Article
      HK exchange fund's assets up 45% to HK$921b last year
      575 6  -  Growth boosted by equity portfolio gains from govt's market intervention Fromi Quak Hiang Whai in Hongkong HONGKONG'S Exchange Fund, which manages the territory's foreign reserves, put up a strong performance last year, thanks mainly to the government's market intervention which
      575 words
    • Article, Illustration
      Lock icon Offbeat art
      55 6 [SYDNEY] Mock international art critics Alan "Edmund" Gannaway (Itfl) and Leigh "Francis" Daters reviewing a controversial portrait of US President Bill Clinton and renowned White House intern Monica Lewinsky on display here on Thursday. The painting, by Australian artist Dave Ross, was featured at the opening of the
      AFP  -  55 words
    • Article
      Port Klang's transhipment volume surges in Jan-Feb
      415 6 KUALA LUMPUR 125,552 TEUs of cargo imHM, up 2.5 times from year ago MALAYSIA'S main Port Klang registered a sharp rise in transhipment throughput during the first two months of this year, the New Straits Times reported yesterday. The newspaper quoted Transport Ministry
      415 words
    • Article
      Lock icon Thailand plans big loan auction in June
      203 6 BANGKOK Reuters THAILAND plans to hold its last great loan auction in June and put up for sale 220 billion baht (S*lo billion) of financial assets, mostly margin loans for securities trading, personal contracts and discounted bills. Financial Sector Restructuring Authority (FRA) secre-tary-general
      Reuters  -  203 words
    • Article
      Lock icon HK Feb exports fall 10%, imports plunge 25%
      379 6 HONGKONG One-month trade gap at HK$l .lb to HKsl&Bb in Feb '98 Bloomberg Reuters HONGKONG'S exports fell in February from a year earlier because of weak demand from the rest of Asia, while imports dropped as consumption sagged amid the city's worst
      Bloomberg; Reuters  -  379 words
    • Article
      Lock icon Thousands join rally as Anwar awaits verdict
      273 6 ■ALORSTAR Wan Amah denies her organisation, Adil, is used by PAS AFP THOUSANDS of people attended an opposition rally in Prime Minister Mahathir Mohamad's hometown as his ex-deputy Anwar Ibrahim awaited the verdict in his corruption trial. Amid a downpour late Thursday up
      AFP  -  273 words
    • NOTE Book
      • Article
        Lock icon Plan to move cut 30,000 Madurese
        77 6 Reuters [JAKARTA] Indonesia is considering moving some 30,000 Madurese out of the province of West Kalimantan on Borneo where at least 178 people have been killed in brutal ethnic clashes, the province's governor said yesterday. The fighting, which pitted indigenous Malays and Dayaks against
        Reuters  -  77 words
      • Article
        Lock icon India eases broadcating controls
        70 6 Reuters [NEW DELHI] India eased state controls on broadcasting yesterday by allowing all private domestic television companies to air satellite programmes from Indian soil The new rules could spur foreign broadcasters to seek Indian partners or to launch domestic ventures, one industry official said. The broadcast
        Reuters  -  70 words
      • Article
        Lock icon Pact to fight cell phone cheats in M'sia
        66 6 Reuters [KUALA LUMPUR] Malaysia's cellular phone service operators formed an alliance yesterday to stop losing millions of dollars to non-paying customers, Bernama news agency reported. Six companies signed an agreement to set up a database that would track customers who try to
        Reuters  -  66 words
      • Article
        Lock icon Philippines to cut key rates
        73 6 AFP [MANILA] The Philippine monetary authorities will cut key rates next week for the fourth time this month to encourage lending activity and stimulate the economy, central bank governor Gabriel Singson said yesterday. The central bank's overnight borrowing rate will be cut by 12.5 basis
        AFP  -  73 words
      • Article
        Lock icon Yangon guarantee for Sun Kyi?
        45 6 Reuters [YANGON] Myanmar's government has signalled its readiness to allow opposition leader Aung San Suu Kyi to visit her gravely ill husband in England and guarantee that she would be able to return to her homeland, diplomatic sources said yesterdayßeuters
        Reuters  -  45 words
    • Article
      Lock icon China to launch asset-management firm next week
      360 7 BEIJING Firm supervised by central bank will handle debts of China Construction Bank AFP, Reuters CHINA'S central bank, the People's Bank of China (PBOC), said yesterday it would open its first assetmanagement firm next week to handle the debts of one of the
      AFP,; Reuters  -  360 words
    • Article
      Lock icon China plans trial Net phone service
      200 7 BEIJING It is also drafting standards for its e-commerce industry AFP CHINA is to launch an Internet Protocol (IP) phone service on a trial basis as a tentative first step towards standardising the fledgling industry, the official media said yesterday. The Ministry of the
      AFP  -  200 words
    • Article, Illustration
      Lock icon Jiang slams Swiss govt over rights protest
      351 7 BERN Furious Chinese president snnbs ceremony on first day of visit to Bern AFP CHINA'S President Jiang Zemin angrily attacked his Swiss hosts for allowing a clutch of human rights protesters to mar his reception at an official ceremony in Bern on Thursday.
      AFP  -  351 words
    • Article
      Lock icon Fujian Ent's assets HK$4.3b, debts HK$3.2b
      123 7 HONGKONG Reuters FUJIAN Enterprises (Holdings) Co Ltd told creditors it had HK54.29 billion (*****.4 million) in assets and HK$3.2l billion in borrowings, bankers said yesterday. The Hongkong-incorporat-ed investment arm of China's Fujian provincial government gave these figures at a creditors' meeting in Hongkong yesterday,
      Reuters  -  123 words
    • Article
      Lock icon Sino-foreign investment fund planned: official
      181 7 SHANGHAI Bnt only after China has sufficient securities know-how Bridge News CHINA will allow a Sino-for-eign joint venture investment fund, but only after it has accumulated enough securities experience and established laws to cover such a fund, China Securities Regulatory Commission chairman Zhou Zhengqing said
      Bridge News  -  181 words
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  • SHIPS IN PORT
    • Article
      CONVENTIONAL WHARVES
      587 7 Vnsot Voy Mo Borth Arrtvl D*p*rt*r* Jm|M **M UKkY 05/99 J02 Mon«M> 25 04/2300 hum Mm*r W2A JOT ttafSMt 26 03/2300 *NM 94/99 JIT MX*]** 2101/1200 M C* Mr<3 *****9 J0I MO*«SA 26 0V2M9 M H J* *****9 JOI HM»UI 24 03/0100 CMta 4 03/99J JI5 «kxi«w» 24.03/0400
      587 words
    • Article
      CONTAINER SCHEDULES
      1513 7 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Booklnq/Balinct Rstts SMp Voy No Etk/Btr Porlod From To From KXJMC 4IS 2VHM M 26/T500 26/I6M 26/1*00 26/1500 H/HW 26/>*00 2A 26/1700 27/06M 27/0*00 21 24/1700 27/0459 27/0*00 1 27/OTOC 27,115* :''T400 4 27/1200 27/MS* 27/1700 MM MIM MM 27/B00
      1,513 words
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  • THE WORLD
    • Article
      EU pact on spending reform but there's no radical overhaul
      560 8  -  Main concern for Asians is decision to postpone planned farm reforms From I Shada Islam in Brussels EUROPEAN Union leaders yesterday reached agreement on a long-sought reform of the bloc's finances but analysts cautioned that the deal fell disappointingly short
      560 words
    • Article, Illustration
      Lock icon Nato strikes by daylight
      267 8 THE KOSOVO CRISIS Violence against Albanian* say reports Reuters [BELGRADE] Nato air power struck Yugoslavia by day for the first time yesterday amid chilling reports of violence against Kosovo's ethnic Albanians the civilians the West's bombs are intended to protect. Strains showed in the Nato alliance
      Reuters; AFP  -  267 words
    • Article
      Just what are Clinton's strategic goals regarding Yugoslavia?
      854 8  -  Air strikes could be a short-term and 'half pregnant' solution From. Leon Hadar in Washington AS Nato (North Atlantic Treaty Organisation) intensified its air attacks on Yugoslavia and as the largest USled military operation since Desert Storm entered its third day, President
      854 words
    • Article
      Questions over wisdom of Nato's controversial attack
      747 8  -  Lack of specific UN authorisation sparks onease From) Neil Behrmann in London WAR has come to Europe for the first time since Hitler. Inevitably, the North Atlantic Treaty Organisation's (Nato) mammoth air strike against Yugoslavia's Serbian military bases is controversial. Italy and Greece,
      747 words
    • Article
      Lock icon Mandela says farewell to South Africa's Parliament
      394 8 CAPETOWN Leaders from all parties pay tribute to retiring president Reuters PRESIDENT Nelson Mandela said farewell to South Africa's Parliament yesterday, ending the first chapter of democratic rule and clearing the way for the country's second all-race election on June 2. "I count
      Reuters  -  394 words
    • Article
      Lock icon Incentive compatibility: lessons from an auction
      1014 8  -  The bidding process at an auction is not only efficient it can also encourage honesty The author is the Peter Moores The author is the Peter Moores director of the Said Business School at Oxford University and a director of London Economics FT POLITICIANS
      FT  -  1,014 words
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  • EXECUTIVE LIFESTYLE
    • Article, Illustration
      Lock icon Watts, Estes lead after 1st round in Florida
      640 9 GOLF Watts shakes off bad start to birdie eight holes in Players Championship Reuters [PONTE VEDRA, Florida] Brian Watts recovered from a terrible start to tie fellow American Bob Estes for the lead after the first round at the US$5 million (SsB.6
      Reuters; REUTERS  -  640 words
    • Article, Illustration
      Lock icon Paying homage to the WWII generation
      858 10  -  But simplifications that make for movie success also have the bad effect of creating myths, says robert jsamuelson ROBERT J SAMUELSON LAT-WP [WASHINGTON] THERE is nothing sentimental about war, but war breeds sentimentality. We are awash in it now. Steven Spielberg's Saving Private Ryan
      LAT-WP; FILE PHOTO  -  858 words
  • Page 9 Advertisements
  • Page 9 Miscellaneous
    • Miscellaneous
      Page 9 Miscellaneous Column 1
      1624 9 CRYPTIC CROSSWORD AutiOSS 29 Ponders about male benefits ing? (6,7) YESTERDAY'S SOLUTION (5) 15 Powerful spirit released by i«i,.|g|i»ilßM»lAlnlTlHlElNlolNl light rubber (5) |.U i Wo] DOWN 16Stop in Panama(s) pHftRpM I 1 Main art works (9) 18 Former bellringers who w lfUfl!j|9lAla^BT^fl 2 Increase passion at home crack up (9)
      1,624 words
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  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      357 10 Where to wine, dine and entertain... (jjlflsgr jM 5 5 "Tunch" is the best for lunch and high tea rolled into J one. Which means longer serving hours and even more scrumptious spreads. Tunch" from 12 noon 4.30pm *15.80 (Adult) *11.80 (Child) Tunch Karaoke" from 12 noon Bpm *21.80* (Adult)
      357 words
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      Page 10 Advertisements Column 2
      28 10 \\\GH TEa Every Saturday, Sunday 8t Public Holiday IOP Noon to 5.00pm Adult: $23 Rcvolvlnf Child: $15+++ 39th floor Reservations: *****58/88 -S--333 Orchard Road, Singapore *****7. Tel: *****11
      28 words
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  • COMPANIES & MARKETS
    • Article, Illustration
      UOB posts 26.7% fail in earnings; provisions up 95%
      1164 11 Bat chairman upbeat about outlook for S'pore banks and says worst is over [SINGAPORE] United Overseas Bank's chairman Wee Cho Yaw yesterday declared "the worst is over" for the Singapore market after it reported a 26.7 per cent decline in net
      1,164 words
    • Article
      Selling ships makes sense if NOL wants to bail out of debt
      777 11  -  HOCK LOCK SIEW Marcus Hand HEPTUNE Orient Lines' (NOL) sale of its US-based stacktrain network last week has been generally greeted favourably but it did little to stir investors' appetite for the company. When first announced last October,
      777 words
    • Article
      Is recovery a certainty for banks in FY99?
      946 11  -  CORPORATE EARNINGS REVIEW Lower provisions seen as main factor for earnings growth By\ Siow Li Sen [SINGAPORE] Dare anyone say for certain that banks can look forward to a recovery story in 1999 after seeing earnings for last year bashed so horribly
      946 words
    • Article
      Li & Fung files application to strike out suit
      445 11  - Li Fung files application to strike out suit By t Audrey Tan [SINGAPORE] Li Fung Distribution yesterday filed an application to strike out a lawsuit brought against it by a minority shareholder of Inchcape Marketing Services (IMS). Lawyers acting for Li Fung said that the suit filed against the firm
      445 words
    • Article
      Showpla files for judicial management
      195 11  -  By. Eugene Low [SINGAPORE] Beleaguered plastic component manufacturer Showpla Asia announced yesterday that it had filed for judicial management. The mainboard-listed group added that Ernst Young had been appointed by the High Court as interim judicial managers. Showpla said it currently owes its creditors about
      195 words
    • CORPORATE RESULTS
      • Article
        Acma's bottom line hit by major write-offs
        329 12  -  i*y R Sivanithy [SINGAPORE] Electronics and infrastructure group Acma Ltd yesterday reported a 14 per cent drop in net earnings to $20.2 million for the year ended Dec 31, 1998, but because it decided to make major write-offs, mainly for its Russian businesses,
        329 words
      • Article, Illustration
        Lock icon NatSteel profit tumbles, but $35m net beats forecasts
        750 12  -  $127 m provisions more than offset by $136 m extraordinary gain By Ven Sreenivasan [SINGAPORE] Homegrown steel giant Nat Steel has made provisions totalling $126.9 million to cover potential losses in its Brazilian subsidiary, regional properties and other investments. However, these provisions
        FILE PHOTO  -  750 words
      • Article, Illustration
        Osprey Maritime: from $27m profit to $27m loss
        358 12  -  By Rahita Elias OSPREY Maritime suffered a worse-than-expected net loss of $27 million last year, compared with a net profit of $27 million the year before. Analysts polled by The Estimate Directory had pegged the group's loss at $18 million. Osprey last
        358 words
      • Article, Illustration
        Lock icon SPC suffers $ 18.5m loss on poorer margins
        388 12  - SPC suffers 18.5m loss on poorer margins Performance falls well below analysts' expectations Eugene Low [SINGAPORE] Singapore Petroleum Company (SPC) last year went into the red with an $18.5 million loss. In 1997, it managed a $15.6 million profit. Revenue slipped 19.5 per cent to $1.4 billion. Loss per share
        FILE PHOTO  -  388 words
      • Article
        Magnecomp profit surges better-than-expected 68%
        351 12  -  Turnover rises 7.3% to $130 m in first year as listed firm fly! Soh Tiang Keng [SINGAPORE] Magnecomp International has posted a 68.4 per cent jump in group net profits to $24.2 million in its first year of operations as a listed company. The maker
        351 words
      • Article
        PacNet achieves turnaround with $12.2m net profit
        362 12  -  By 1 Teh Hooi Ling (SINGAPORE] Nasdaq-listed Pacific Internet (PacNet) made an impressive turnaround last year with a net profit of $12.2 million last year, from a loss of $9.8 million in 1997, on the back of an increased subscriber base and reduced
        362 words
      • Article
        Singatronics profit dives 64% on higher tax provisions
        248 12  -  By Teh Hooi Ling [SINGAPORE] Electronics and property company Singatronics Ltd yesterday reported a 64 per cent plunge in its 1998 net profit to $1.9 million. The group barely added any profit in the second half, as it had already made nearly
        248 words
      • AT A GLANCE
        • Article
          Li Xin sales up 10% but profit down 74%
          42 12 LI Xin Industries last year saw turnover rise 10 per cent to $90 million, while net profit plunged 74 per cent to 12.2 million. It is recommending a dividend of 2.5 per cent
          42 words
        • Article
          Hwa Hong net falls 32% to $5.9m
          47 12 HWA Hong Corp's net profit fell 32 per cent last year to $5.9 million while group turnover dropped 48 per cent to 9150.4 million. Its directors are recommending a first and final dividend of 4 per cent —unchanged from 1997.
          47 words
        • Article
          Prima's loss deepens
          55 12 PRIMA Ltd sank further into the red, with net loss rising 21 per cent to nearly $18 million last year. Group turnover rose 3 per cent to $145.2 million. Despite the loss, the directors recommended a final dividend of 15 per cent, on top of the interim
          55 words
        • Article
          Noble posts $7.7m loss
          38 12 NOBLE Group saw red last year. It suffered a loss of $7.7 million for the 12 months to last December. Group turnover also fell 26 per cent to $642.8 million. No dividend was declared.
          38 words
        • Article
          Rotary chalks up 11% rise in net gain
          54 12 ROTARY Engineering chalked up an 11 per cent Increase in net profit to almost $7 million for the year to December. Group turnover also rose by about 31 per cent $149 million. Its directors have recommended a dividend rate of 0.8 cent
          54 words
        • Article
          Pentex-Schweizer interim down 35%
          36 12 PENTEX-Sch we izer Circuits' half-time profits fell 35 per cent to $610,000 for the six months to last December. Group turnover dipped 3 per cent to $72.7 million. No dividend was declared.
          36 words
        • Article
          Eastern Asia profit jumps 47%
          47 12 EASTERN Asia Technology saw net profit surge 47 per cent to $13.7 million despite a 5 per cent drop in group turnover to $159 million for 1998. It declared a first and final dividend of 5 per cent compared to zero previously.
          47 words
        • Article
          Seaview cuts looses by 90%
          36 12 SEA VIEW Hotel slashed losses by 90 per cent to $242,000 for the six months ended Dec 31 on a 34 per cent lower turnover ofsGLl million. No dividend was recommended.
          36 words
        • Article
          Leong Hin earnings soar
          44 12 LEONG Hin Holdings reported a 48.8 per cent jump in earnings to 12.9 million on a 3.4 per cent rise In turnover to $27.1 million. It declared a first and final dividend of 2.5 per cent, against none for 1997.
          44 words
        • Article
          Liang Huat hit by $12m loss
          45 12 LIANG Huat Aluminium suffered a loss of $12.3 million for last year, against earnings of $2.1 million in 1997. Turnover fell 2 per cent to $120.6 million. A first and final dividend of one per cent has been declared
          45 words
      • Article
        LKN posts $204m loss; lenders' support now vital
        330 13  -  By! Soh Tiang Keng [SINGAPORE] Construction and property company Lim Kah Ngam (LKN) said yesterday that its "ability to continue operations is dependent on the continued support of its financial lenders" following a bottom-line loss of $204 million last year. It added
        330 words
      • Article
        OPH reports worse than expected $196m loss
        792 13  -  Its associate YHS posts loss of $89m due mainly to property provisions By. Ang Wan May [SINGAPORE] Ng Teng Fong's mainboard-listed property and hospitality arm, Orchard Parade Holdings (OPH), yesterday reported a $196.2 million loss for 1998, on the back of provisions of
        792 words
      • Article
        HPL reports $11m net loss, $69.6m extraordinary loss
        420 13  -  Group turnover contracts by a third to $425 m By] Marissa Chew [SINGAPORE! Hotel Properties Ltd yesterday posted a net loss of $11 million, and booked an extraordinary loss of $69.6 million. The company, headed by well-known businessman Ong Beng Seng, reported
        420 words
      • Article
        Cosco earnings fall 41% to $2.7m
        217 13 [SINGAPORE] Diversified shipping cum property player Cosco Investment (Singapore) Ltd said yesterday its earnings declined 41 per cent to $2.68 million for its fullyear ended Dec 31,1998. Turnover for the period also fell and was down 44 per cent from the year-ago period to
        217 words
      • Article, Illustration
        Lock icon Bonvest Holdings hard hit by $66m property provisions
        405 13  -  Company swings into alossofs7lmfor FY9B, from $3J>m profit in FT97 By\ Louis Beckerling [SINGAPORE] Provisions made against recoveries from its residential projects dragged Bonvest Holdings deeply into the red for the year ended Dec 31. From an after-tax profit of $3.52 million
        FILE PHOTO  -  405 words
      • Article
        Apollo's loss more than trebles to $7m
        219 13  -  Byi Clarissa Tan [SINGAPORE] Apollo Enterprises has reported an even larger net loss of $7 million for the year ended Dec 31, 1998, compared to $2 million the year before. Turnover fell 11 per cent to $49.1 million. The company has registered a
        219 words
      • Article
        Dragon Land's loss widens to $5.6m
        215 13  -  By R Sivanithy [SINGAPORE] Property developer Dragon Land yesterday reported a disappointing $5.57 million loss for the year ended Dec 31, a figure which is more than twice the $2.3 million loss incurred in 1997. It also warned that it does not expect to
        215 words
      • Article, Illustration
        Lock icon Raffles Medical's profit hit by higher HK losses
        416 13  -  By] Rahita Elias [SINGAPORE] Raffles Medical Group's net profit last year fell 30 per cent to $2.6 million mainly due to increased losses incurred by its Hongkong operations. Its results were below market expectations. Analysts polled in Barra's The Estimate Directory gave
        FILE PHOTO  -  416 words
    • REGIONAL COMPANIES
      • Article
        Lock icon Indon joint venture banks being eyed for closure: source
        507 14 These banks have not violated rules bnt economic crisis has hurt them Bridge News [JAKARTA] The Indonesian government is looking at as many as 12 joint venture banks for possible liquidation next month, a source close to Bank Indonesia told Bridge
        Bridge News  -  507 words
      • Article
        CK Tang says its housebrands doing well
        400 14  -  By: Rahita Elias [SINGAPORE) CK Tang's housebrands are now enjoying strong sales and good margins, said the loss-laden department store's chairman. Tang Wee Sung, yesterday. "There are still niche opportunities for retailers in Singapore to offer customers merchandise which are high in style
        400 words
      • Article, Illustration
        Lock icon Taiwan futures exchange to launch two new contracts
        355 14 They will be electronics, financial index fatnres Reuters [TAIPEI] Taiwan's fledgling futures exchange vowed yesterday to launch two fresh stock-derived contracts in 1999, eager to spark success where its one and only contract has failed to excite. Taiwan International Mercantile Exchange vicepresident
        Reuters; FILE PHOTO  -  355 words
      • Article
        Lock icon New twist to battle for Bangkok's Regent
        257 14 Bloomberg [BANGKOK] Royal Garden Resorts pic yesterday threw a counter punch at Goldman, Sachs Co's bid to buy Bangkok's Regent Hotel, saying it now controls 57 per cent of the hotel after privately agreeing to buy a 32 per cent stake from two
        Bloomberg  -  257 words
      • Article
        SES terminals can be used for Simex trading
        92 14 [SINGAPORE] The Stock Exchange of Singapore (SES) announced yesterday that from April 5, stock market dealers who are also registered members of the Singapore Monetary Exchange (Simex) will be able to trade directly on Simex's automated trading system from their own SES
        92 words
      • Article
        SES denies holding merger talks with Aussie exchanges
        455 14 [SYDNEY] The Stock Exchange of Singapore said yesterday it is open to cooperation and alliances with foreign bourses but denied a Financial Times report that merger talks were underway with the Australian Stock Exchange and the Sydney Futures Exchange. An SES spokesman
        455 words
      • COMPANY Briefs
        • Article
          SingTel ups WorldPartners stake
          42 14 [SINGAPORE] Singapore Telecommunications' wholly-owned subsidiary, Sing Tel USA Inc, has repurchased from Telstra Inc 2 per cent of Telstra's 10 per cent interest in World Partners Company. SingTel's shareholding in WPC has thus risen to 20 per cent.
          42 words
        • Article
          NCS sets up HK IT company
          50 14 [SINGAPORE] National Computer Systems, a wholly-owned subsidiary of Singapore Telecom, has incorporated a subsidiary company known as NCSI (HK) Ltd with an authorised capital of HK$lO million (552.2 million) and an issued and paid-up capital of HK$2. NCSI HK will provide information technology services.
          50 words
        • Article
          Two PacCan exec directors resign
          31 14 [SINGAPORE] David Wang Xin and Yan Zhiming have resigned as executive directors of Pacific Can Investment Holdings from yesterday. They will remain as its non-executive directors.
          31 words
        • Article
          Tuan Sing sells China homes to staff
          55 14 [SINGAPORE] Tuan Sing Holdings yesterday said that six Xin Shen Gardens units and four Lu Yin Yuan units, both housing developments in Shanghai, have been sold to 10 employees. The projects are developed by subsidiaries Shanghai Xin Min Real Estate United Development and
          55 words
      • COMPANY Briefs
        • Article
          Lock icon Kerry Prop's debt-to-equity up to 42%
          78 15 Reuters [HONGKONG! Kerry Properties Ltd said yesterday its net debt had risen to 42 per cent of equity, due to a HK$6 billion (SSI.3 billion) reduction in the value of its properties, and would seek to cut gearing in the next two years. "Gearing
          Reuters  -  78 words
        • Article
          Lock icon Hang Long posts sharp profit drop
          66 15 Reuters [HONGKONG] Hongkong property developer Hang Lung Development Co Ltd posted yesterday a sharp decline in interim net profit due mainly to a lack of new property sales. "As there was no new property project for sale during the period, net profit decreased by
          Reuters  -  66 words
        • Article
          Lock icon Sony in Net brokerage joint venture
          63 15 Reuters [TOKYO] Sony Corp said yesterday it would buy a 50 per cent stake in a new firm intended for setting up an Internet brokerage. A spokesman said the new firm would be set up in April by Oki Matsumoto, a limited partner at
          Reuters  -  63 words
        • Article
          Lock icon Ford Japan to buy Mazda's stake in unit
          106 15 Reuters [TOKYO] The Japanese unit of Ford Motor Co said yesterday it had agreed to buy out Mazda Motor Corp's share in Ford Sales Japan Ltd by March 31 for an undisclosed sum. Ford Motor Co owns 33.3 per cent of Mazda.
          Reuters  -  106 words
      • Article
        Lock icon Analysts bullish about Cheung Kong's prospects
        285 15 Some expect 90% jump in 1999 profits, rank stock a buy Reuters [HONGKONG] Cheung Kong (Holdings) Ltd should see a year of solid earnings growth and acquisitions in 1999, placing the property developer in a strong position for when economic recovery occurs, analysts said
        Reuters  -  285 words
      • Article
        Lock icon Top broker Nomura Sec to take 545b yen loss
        380 15 It will cover overseas losses and pump 348b yen into finance affiliate Bloomberg, AFP [TOKYO] Nomura Securities Co, Japan's largest brokerage, said it will take a 545 billion yen (SsB billion) loss to bailout an ailing non-bank affiliate and cover losses
        Bloomberg,; AFP  -  380 words
      • Article, Illustration
        Lock icon Sony's mini tie-up
        91 15 [TOKYO] A Sony Corp clerk showing off Sony's new products—mini disc player/recorder model MDS-DLI (top) and communication satellite digital broadcast receiver DST-MS9 (bottom) on Thursday. The receiver enables subscribers to receive new data broadcast programmes to be offered by Sky Perfect TV! in Japan, and they can
        REUTERS  -  91 words
      • Article
        Lock icon Nissho Iwai may shut unprofitable subsidiaries
        279 15 Bloomberg [TOKYO] Nissho Iwai Corp, Japan's sixth-largest trading company, said it may cut the number of its subsidiaries almost in half to 130 by shutting unprofitable units and combining others as it seeks to shore up its earnings. The importer of metals, machinery, food
        Bloomberg  -  279 words
      • Article
        Lock icon Worst not over, BHP warns as profit dives
        219 15 Bloomberg [MELBOURNE] Broken Hill Proprietary Co's third-quar-ter profit dived 83 per cent as copper and oil prices slumped, and Australia's largest resources company warned that the worst may not be over. BHP chief executive Paul Anderson said the profit of As 46
        Bloomberg  -  219 words
    • Article
      BT SHARE INFORMATION SERVICE
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      3,428 words
    • COMPANIES
      • Article
        Lock icon UK's Canary Wharf shines in IPO debut
        404 16 Issue price values once-struggling UK biggest office complex at £2J2b Reuters. [LONDON] The owner of Britain's biggest office complex, Canary Wharf Group pic, on Thursday priced an initial public offering for a quarter of its shares and watched the stock rise to a
        Reuters.  -  404 words
      • Article, Illustration
        Lock icon Ericsson, Qualcomm settle technology battle
        371 16 Bloomberg [STOCKHOLM] Ericsson AB, the world's No 3 cellularphone maker, and rival Qualcomm Inc agreed to share technology for wireless phones and equipment, ending a two-and-a-half-year patent dispute. Ericsson will buy Qualcomm's unprofitable unit that makes cellular-network equipment, and the companies will jointly support one
        Bloomberg; REUTERS  -  371 words
    • INTERNATIONAL COMPANIES
      • Article, Illustration
        Lock icon US stock markets considering going public
        500 17 Nasdaq, Pacific Exchange among those mulling sweeping changes Bloomberg [NEW YORK] US stock markets, which have operated as not-for-profit membership organisations for two centuries, are talking about selling shares to the public as they confront heightened competition and escalating costs. The Nasdaq Stock Market
        Bloomberg; FILE PHOTO  -  500 words
      • Article
        Lock icon CBS chief gets a US$195m reward
        178 17 Bloomberg [NEW YORK] CBS Corp chief executive Mel Karmazin, who built the company's Infinity Broadcasting Corp unit into one of the largest US radio companies, made US$l95 million (*****.5 million) last year by exercising stock options. Mr Karmazin exercised options to buy 6.2 million
        Bloomberg  -  178 words
      • Article
        Lock icon Chevron refinery unit ablaze after blast
        187 17 Bloomberg [SAN FRANCISCO] Chevron Corp said on Thursday a unit at its Richmond, California, crude-oil refinery exploded and caught fire, sending huge flames and a plume of smoke into the air visible more than 16km away. A hydro-cracking unit at the 240,000 barrel-a-day refinery
        Bloomberg  -  187 words
      • Article
        Lock icon German, French telcos back Global One
        509 17 Deutsche Telekom, France Telecom damp talk of break-up in alliance Bloomberg [BONN] Deutsche Telekom AG and France Telecom SA said they are committed to their Global One phone venture with Sprint Corp, damping speculation that the partnership is near collapse. "We fully back Global
        Bloomberg  -  509 words
      • Article, Illustration
        Lock icon UK funds to raise Japan holdings, cut US stakes
        485 17 Weighting* in Asian stocks at highest level since Nov: poll Reuters [LONDON] British global fund managers are raising their holdings in resurgent Japanese stocks but are cutting exposure to Wall Street after the Dow's failure to stick above the 10,000-point mark.
        Reuters; Source: Bloomberg  -  485 words
      • Article
        Lock icon IBM in Telefonica deal worth up to US$4b
        413 17 Companies to offer telecoms services in Spain, Latin America Bloomberg [ARMONK, New York] International Business Machines Corp, the No 1 computer maker, reached an agreement with Telefonica SA worth an estimated US$3 billion (555.2 billion) to US$4 billion to sell more services
        Bloomberg  -  413 words
      • Article
        Lock icon Delia Air to sell 119 Boeing 727s and engines by 2005
        339 17 It plans to upgrade fleet with newer, quieter 8737s Bloomberg [ATLANTA] Delta Air Lines Inc, the third-largest US airline, said it will contract with a United Technologies Corp unit to sell 119 Boeing 727s and as many as 39
        Bloomberg  -  339 words
    • FINANCE & COMMODITIES
      • Article
        Lock icon Market stability helps US banks triple trading revenue to US$2b
        435 18 Q4 losses from OTC derivatives total USslo7m, down from USs44sminQ3 Bloomberg [WASHINGTON] US bank revenue from trading securities, commodities and derivatives tripled between the third and final quarters of 1998 as world markets stabilised, the Office of the Comptroller of
        Bloomberg  -  435 words
      • Article
        Lock icon Morgan Stanley beats forecasts with 50% surge in Q1 earnings
        435 18 Growth rate exceeds that of Goldman, Lehman by 3-4 times NYT [NEW YORK] Most Wall Street firms are enjoying the robust profits that come hand-in-hand with a strong stock market, but Morgan Stanley Dean Witter is enjoying the ride more
        NYT  -  435 words
      • Article, Illustration
        Lock icon Bank workers demand pay rise
        72 18 [COLOMBO] Clerical workers of Sri Lanka's state-owned People's Bank holding up placards during a protest in Colombo after staging a walkout over wages on Thursday. Business at Sri Lanka's state and private commercial banks were affected after some 30,000 clerical workers staged the protest despite
        REUTERS  -  72 words
      • Article
        Lock icon Flemings firm on staying independent
        495 18 Private bank dogged by rumours of takeover Reuters [LONDON] British investment bank Robert Fleming on Thursday underlined its commitment to stay independent with a new global structure, blending in its now whollyowned Asian unit Jardine Fleming. But the privately-owned bank, one of few left in
        Reuters  -  495 words
      • Article, Illustration
        Lock icon US dollar still enclosed
        443 18 Euro/UBs: Despite the air strikes in Yugoslavia and European Union Budget debates, euro/USI remained unruffled. Instead, the unit merely traded sideways between 1.0829 and 1.0960 for the first four days of this week and was seen trading around 1.0640 yesterday morning. As such, the technical outlook
        Source: DBS Bank  -  443 words
      • Article
        Lock icon Hanvit Bank to seek foreign partners
        294 18 Reuters [SEOUL] Hanvit Bank, the result of a merger of two big South Korean commercial banks, will seek foreign strategic partners to compete globally. Hanvit is one of the world's top 100 banks in terms of assets with 111 trillion won (*****.4 billion). The
        Reuters  -  294 words
      • Article
        Volume subdued ahead of long weekend
        203 19  -  mimniiw Reports Tlffffrl Mngapnrft tiutor Bob Butcher, Jardine Fleming THE MSCI Singapore Free Index futures March contract opened close to its high of 220.5 but couldn't sustain a thrust above the 220 level. The market trickled off over the course of the day although
        203 words
      • Article
        US rally helps futures end on positive note
        160 19  -  MSCI Taiwan futures Vincent Ngiam Refco Singapore THE Simex MSCI Taiwan Stock Index futures contract ended the week on a positive note up plus 4.7 points in the March '99 futures contract to close at 306.9. The benchmark TWSE index jumped 91.87
        160 words
      • Article
        Lock icon Confirmation of Opec cuts, US refinery explosion boost oil prices
        336 19 EMERGY REPORT Reuters WORLD oil prices rose yesterday on fresh confirmation of Opec production cuts and supply concerns caused by an explosion at a US refinery. World benchmark Brent crude oil was trading 24 cents higher at US$l4.lB per barrel,
        Reuters  -  336 words
      • Article
        Lock icon CURRENCY REPORT
        332 19 Reuters London THE dollar hit lifetime highs against the euro and two week peaks against the yen yesterday on gloom about the economies of Japan and the euro zone and amid growing uncertainty about Yugoslavia. "Economically the pressure still favours the dollar against the euro and yen," said
        Reuters  -  332 words
      • Article, Illustration
        Untitled
        1230 19 HTERPAMK CROSS RATES A$ C$ RwO Euro ffr DwHKSNXH NpWi YwWow >* MB Nfct« N«o S$K«< «f W W N— WH Australia 0.961 6.178 0.588 3.858 1150 4.944 27.054 56.196 0.758 7.801 2.425 1187 32.030 24.747 1.105 1961 0.939 ***** 23.984 0J92 0.638 Canada 1.040 5.510 0.612 4.013 1.197 5.144
        1,230 words
      • Article
        Untitled
        1825 19 SICOM rPTUREgP Mar 26 RUBBER (tuturrs clonnq «t 5 30pm) RSS1 COMTRACTts cwtsAfl) Oo» Votoi»« Opw Month Hhjjh Low S«tt (tow«) tatorost Apr 99 102.00 150 May 99 102.75 775 jJn 99 105.00 250 Jill/Sop 99 106.75 KW.75 107.75 150 750 Oct/Dec 99 H1-50 525 JM/MV 00 H5.00 RSS 3
        1,825 words
    • Article, Illustration
      Lock icon HONGKONG
      1431 20 Reuters n Hang Seng -2182 HONGKONG stocks slipped to a lower close yesterday on profit-taking in property counters with weak earnings' reports and despite a lift from telecommunications and finance counters, brokers said. The index was expected to trend sideways around the 10,800 level in the coming hol-iday-shortened week,
      Reuters  -  1,431 words
    • Article, Illustration
      Lock icon CHINA
      564 20 Reuters n Shenzhen B Index -0.48 SHENZHEN'S B share index gave up early gains to close lower yesterday, partly driven by a mild correction on the Hongkong stock market, analysts said. The B index fell 0.48 point, or 0.95 per cent, to 49.95 on turnover of HKSIO.6 million, against
      Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd  -  564 words
    • Article
      Lock icon TAIPEI
      335 20 AFP Q WP Index +»LB7 TAIWAN share prices rose 1.3 per cent yesterday to reclaim the 7,000-point level on improved sentiment, analysts said. "Market sentiment remained strong after a brief consolidation," said Peter Chang, president of Polaris Securities Advisory Co. Strong buying in raw material providers, such as plastics
      AFP  -  335 words
    • Article
      WORLD STOCK MARKETS
      2234 20 LONDON MostrMs M* 26 FwM 3i Croup 6.14 0.02 A B Foods 4.34 -0.08 A B Ports 2.88 0.02 A Iliad Domacq 4.65 0.01 A Iliad Zurich 7.87 -0.05 Anglo Amarican Cold 23.10 0.10 ASOA Croup 1.53 -0.02 Bank of Scotland 8.28 0.11 Barclays 17.00 0.07 Bass
      2,234 words
    • Article
      Lock icon TOKYO
      1599 20 AFP QNikkdaaS ♦30JS SHARE prices in Tokyo gained 0.2 per cent yesterday, due to a rebound on Wall Street, brokers said. The Nikkei 225 index rose 30.95 points to close at 16,016.99. Volume was subdued, with 523 million shares changing hands against Thursday's 663.7 million. "Market sentiment has improved
      AFP  -  1,599 words
    • KUALA LUMPUR STOCK MARKET
      • Article
        Untitled
        8591 21 MOUSTMAIS CMMMMT protects >999 Last Vol Day Net Cap Law Company >m OOP Hlqh Low P/E Jmil 310 255 Ajinomoto 265 14 .6 107.4 83 46 Angkjia 49 72j 283 220 Apollo Food Hlq 220 7.7 88.0 204 115 BeriayaLand 121 -i 21 123 120 2.4 838.8 600 450 C
        8,591 words
      • Article, Illustration
        Lock icon Shares off highs ahead of Monday's holiday
        415 21 AFP. AFX-Asia cr f% Composite Index +LO2 SHARE prices finished up 0.2 per cent yesterday but off earlier highs as investors cashed in ahead of a long weekend, dealers said. The KLSE Composite Index rose 1.02 points to finish at 500.16, off an
        AFP.; AFX-Asia  -  415 words
    • WARRANTS, OPTIONS & REGIONAL MARKETS
      • Article
        Untitled
        2044 22 BONDS, LOANS A VARIANTS 52-*k Last Vol Day Last Ouata A*q High Low St no Company Salt ♦or- COOO) High Las Buyar Saflar Prtca '8 3 3160 "Acar ******1USS 13 -0.5 18 75 13 13 ITS 32 4.5 1 3164 Acma ******4 17.5 -2.5 418 20 17.5 17.5 18 17
        2,044 words
      • Article
        CLOB INTERNATIONAL
        219 22 HONGKONG STOCKS Gr Gr 52-W* LMt VI Day Last OuoW Mv Mv VM Ml M Cat Ht» I— Stno Company Ml rOOO) K>qH L— Bwyr S—or CV P/t $wi 235 173 5123 CDC (2000) HK 230 cd 230 240 8 U U IU 4453-2 5124 Cat«wvP*c20cHK_720cd 265 2.1
        219 words
      • Article
        Looking at the variables
        225 22  -  WARRANT WATCH -By R Sivanithy PICKING up from where we left off yesterday, of the five variables that are used in the Black-Scholes pricing model, expected volatility is the only one that has to be estimated the risk-free interest rate, share price, exercise price and time
        225 words
    • Article
      Lock icon WELLINGTON
      305 22 AFP rl Wellington +fiL5 NEW Zealand share prices closed up 0.4 per cent yesterday on data showing a recovering economy, dealers said. The NZSE-40 Capital Index closed up 8.50 points at 2,123.16 on turnover of NZ5121.3 million. Rises outnumbered falls by 50 to 38.— AFP mrtt riooi Atfvantaga HOS
      AFP  -  305 words
    • Article, Illustration
      Lock icon BANGKOK
      911 22 AFP nSET Index +L2l THAI shares closed little changed yesterday, gaining 0.3 per cent amid an absence of fresh leads, with many investors sidelined awaiting the government's economic stimulus package next week. The SET Composite Index was up 1.21 points at 366.91, off a high of 370.75. Falls led
      AFP  -  911 words
    • Article
      Lock icon SEOUL
      404 22 AFP n Composite Index -L2B SOUTH Korean share prices closed 0.2 per cent lower yesterday as a result of foreign profit-taking with retail interest cushioning the downside, dealers said. They said the market showed some volatility after its early advances, following a recovery on Wall Street and stronger futures.
      AFP  -  404 words
    • Article
      Lock icon SYDNEY
      649 22 AFP AD Ordinaries 4J AUSTRALIAN share prices rose 0.3 per cent yesterday, helped by a rally in BHP shares, brokers said. The All Ordinaries Index gained 9.7 points to 2,996.6. The All Industrials Index finished 2.5 points higher at 5,355.5, while the All Resources Index gained 20.6 points to
      AFP  -  649 words
    • Article, Illustration
      Lock icon JAKARTA
      715 22 AFP n Composite Index -188 SHARES slipped 0.7 per cent yesterday on profit-taking in select large caps, but the falls were cushioned by moderate gains in Telkom and pulp and paper stocks, dealers said. "In the current situation, I would say foreign investors are still cautious," a dealer said.
      AFP  -  715 words
    • Article
      Lock icon MANILA
      312 22 AFP Manila *22^0 PHILIPPINE share prices closed 1.1 per cent higher yesterday as investors nibbled on second-line stocks amid an absence of corporate developments to buy blue chips, analysts said. The Composite Index added 22.80 points to close at 2,022.07. Turnover reached 2 billion shares worth 992.43 million pesos.
      AFP  -  312 words
    • Article
      STOCK EXCHANGE OF SINGAPORE: MAIN BOARD
      6944 23 Transaction date: Mar 2G j M 2 L«*« Vol Day LastOuote Wv Dlv VW Net Cap Avq H >tw Cem»«ny Sale OOO) High Lo» Buyer Seller Cvr P/t $mll Prk. MULTHNOUSTIY 137 17.5 m b 1000 Acma 50c 72.5 -0.5 214 73 72 72
      6,944 words
    • Article
      SESDAQ
      1320 23 2 y* Oay LastOuota M» ON YW Net Cap Avg Ht >-*» »tw> Cuapawy Sala COOP) High Law Buyar Sa«ar C»r P/C Sm» Prtca HAHUfACTUHHW 214 30 C 2049 AS Auto 10c 88.5 -13 781 91 88 88 89 15 N 7 17 8.3 101 89 79.5 45 c
      1,320 words
    • STOCK EXCHANGE OF SINGAPORE
      • Article
        Untitled
        398 24 Stacks Volume GES Intl Ltd 20c 27,120.000 •TanChonglntSOc 26,907,000 Jaya Wt99 17,440,000 Hotung In* NT5 17,235,000 Wing Tai 25c 16,816.000 UICWW9 12,739,000 Eltech Wt99 10,546,000 MHE Hldqs Wt99 8.987,000 DBS Land 7.361.000 UIC 6,102,000 Stocks •TanChonqlntSOc 25,056,030 Wing Tai 25c 22,030,530 SPH 20,973,491 City Oev 50c 18,269,601 DBS Foreign 17,728,187
        398 words
      • Article, Illustration
        Market's resilience confounds detractors
        577 24  -  STOCK MARKET COMMENTARY Jaya, GES, Tan Chong picks of the day; penny warrants expiring '99 sag on SES clarification By R Sivanithy AFTER a hectic week during which business done exceeded more than $1.5 billion, local stock market players paused to catch their breath yesterday and
        577 words
      • ON THE GRAPEVINE
        • Article
          Super Oink, Oink
          132 24 A NUMBER of stockbroking houses had been strongly recommending a punt on penny stock Samudera, which for weeks had proved quite disobliging, remaining stuck at around 22 cents. Tired of waiting for the moment when the Sesdaq penny stock would "fly" as some brokers had predicted, a
          132 words
        • Article
          Venue change for a good reason
          116 24 HOTEL owner and operator Shangri-La Asia usually conducts its results briefings for the media and analysts at its Hongkong property, the Island Shangri-La. Not only is it new and posh, it is also close to most of the stockbroking firms which have their offices
          116 words
        • Article
          Lookers and bookers
          132 24 INTERNET news service CNet.com observes that online travel agencies are hoping to pump up business by offering more complex packages like cruises and tours. "The higher cost and commission rates make these packages an extremely lucrative part of the business," the report notes. Apparently, the online travel
          132 words
        • Article
          Getting help on debts
          112 24 THE Kuala Lumpur Stock Exchange is expected to ask debt-laden listed companies to disclose whether they have sought help from the national debt arbitration panel, the Corporate Debt Restructuring Committee. So far, only two listed companies—Renong Bhd and Idris Hydraulic—have disclosed that they are in negotiations
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      • Article, Illustration
        HOT STOCK
        53 24  -  -By Ven Sreenivasan DBS Land is steadily climbing back from its recent trough and looks set to climb further in the coming weeks. The counter is still oversold at yesterday's closing price of $2.39. This is still time to accumulate the stock, which is headed for its next
        53 words
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      1802 16 I EE UNITED ENGINEERS I I LIMITED I H (Incorporated in the Republic of Singapore) B I ANNOUNCEMENT I RESULTS The unaudited results of the Group and of the Company for the financial year ended 31 December 1998 are as follows: H GROUP COMPANY I I 1998 1997 Increase/ 1998
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      34 18 ipwBESB?!! 1^55f558 L^rk i A. r *1-* Personal Finance J •Property I EXECUTIVE J •Stocks j Style V J Motoring V Travel Every Friday ...in THE BUSINESS TIMES. A must-read for your long weekend.
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      46 22 jS Hello, I saw your don l\ f was advertisement in g g I a nice surprise. I The Straits Times \^Thankyou^^ S^^girifnend.■ uTITTI Buying or selling through "vTJMBL The Straits Times Classified is child's Play. call CAT.S. at 1800-737-1166.® Boy It Sal It Find It
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      811 24 DBS investor Online. You ve read about it, now hear us on Newsßadio 938, Mon-Fri, from B:22am. 88 DBS BANK NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298 In the matter of the Companies Act. Cap. 50 and In the matter of Willes Investment Pte Ltd (In
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      128 24 THE COMPANIES ACT, CAP. 50 GOLDLEAF DE SAUNA PRIVATE LIMITED (la Mambars' Voluntary Liquidation) FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(2) of the Companies Act, Cap. 50 that a Final Meeting of the Members of the above Company will be held at 14 Robinson Road #05-01, Far
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      33 24 FREE! If you have found something, you can advertise for free in Classification 821 (Found) to seek its owner. Call C JLT.S. at 1800-737-1166. Buy it. Sell It. Find It. Another Classified Service
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      13 24 ft advertise your simply lax: 741 1198 •r Call toll-free: 1800 741 1883
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  • SINGAPORE Business Awards'98
    • Article, Illustration
      Lock icon Businessman with the 'we' approach
      2595 25  -  Ngit l|Bhas been haifegby sparkling il I i I HNNE Quietly, with little fanfare, Venture Manufacturing's president and CEO Wong Ngit Liong has built up a world-class contract manufacturing powerhouse. But the publici-ty-shy Mr Wong would rather stay out of the limelight. "I don't think
      SIEW YAW HOONG  -  2,595 words
    • Article, Illustration
      Lock icon Go-getter JIT faces challenges head-on
      1480 28  -  JIT founder Tommie Goh talks to coboiee here about the marathon race his company is running and his determination to see it come out tops CORINNE KERK JIT Holdings is a company in a hurry. Like its logo whose initials look as though they were
      ARTHUR LEE  -  1,480 words
    • Article
      The Singapore Business Awards
      373 28 Jointly organised by The Business Times and DHL Worldwide Express Launched in 1985, the awards seek to give recognition to outstanding contributions by companies and individuals in Singapore's business community. The awards comprise: Businessman of the Year: Presented to the businessman who has achieved outstanding corporate
      373 words
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      Lock icon Humble CEO who thinks big
      1565 33  -  Asia Pacific Breweries' chief executive Koh Poh Tiong has clear views on management, ethics and the skills of negotiation, carol rata talks to him to find out what they are CAROL ENG THE mild-mannered chief executive of Asia Pacific Breweries isn't exactly the kind of
      ARTHUR LEE  -  1,565 words
    • Article, Illustration
      Lock icon Size is neutral, says Venture's CEO
      637 33  -  By Jennifer Lien UNLIKE its larger rivals in the contract manufacturing world companies like SCI, Solectron, and even NatSteel Electronics (NEL) Venture Manufacturing has not pursued a strategy of aggressive global capacity expansion. This, analysts say, is perhaps the biggest difference between Venture and
      SIEW YAW HOONG  -  637 words
    • Article, Illustration
      Giving promising SMEs a hand
      1113 38  -  chia tee Lnro looks at what the S'pore Productivity and Standards Board and other government agencies are doing to upgrade and develop local SMEs CHIA YEE LING The writer is an assistant head in PSB's Local Enterprise Division THE new buzzword in town is knowledge-based
      1,113 words
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      208 26 I Congratulations to I I I for winning B I I The Enterprise Award ra I the a tremendous for us to of becoming world-class electronics We are production Singapore, Malaysia I and China. For substantial investment commitment in Singapore, JIT has been I awarded the Development and Expansion Incentive
      208 words
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      587 27 Congra tula tions Avaplas ipteiiid Urspmdex TenCateEnbi Avaplas (Pte) Ltd Singapore Shinei Sangyo Pte. Ltd. Ten Cate Enbi Pte Ltd Spindex Industries Limited Electroloy Metal (Pte) Ltd 19 Chan 9 l South Street 1 (Group of Companies) (A subsidiary of Royal Ten Cete) 6 Neythal Road No. 6 Tuas Basin
      587 words
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      115 29 m THE TEAM SPIRIT <fe ii I V_ 'NS-frjw <*. i'; B T p?r To s*'i Of i I car. f*j 3 '~i Q:j ~J z. X *xT*> 2?^ /a -varas as orsrs r.' lv C/ 7 re ■e fTeam Spirit A s ia Pacific Breweries j team. Leadinq the
      115 words
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      192 30 C \WC NX Ifl"; I THE SPIRIT OF CHAMPIONS ft I The Far Eastern So well marketed is Tiger Beer's new Ar^n^nMa^cUna I Economic Review the Tiger brand that packaging met with Effectiveness Review 200 named Interbrand. a leading tremendous approval, competition honoured I APB among the international brand including
      192 words
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      45 31 THE SPIRIT THAT THRIVES PSsp Our range of brands satisfy many varying tastes in markets >>; _v rid "d :lfflfe| VhLf <g> *••<# V MP W V" ttff' f 1 J? r 4 P**T ■i<f^lr^' a |jj|iBBH^^^^BSrB^^Bffi' >r x Xj JHMBBMHMM9BM9MMBMHHHH^ '"^^r'..-• •■■^^'x Hp w i 1
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      209 34 Www ""VU, WVU& uaj inai V/ll L ITO7 ■Ba I f Il■ 9 Winner USMMfI B ***** VK^ E HnilffinH B>n I fl 8~1 I BkBKI PI I 1 f iMU L la««ll n B A v g fc- V ■AMHIMIfI I Br The man behind Success does not just
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      230 35 j Page Una Pqß I V E- 41 I I V f 1 mm %i, 3k> d „'Y<:v .^£l 3 fjjfc •>, JMMK |k r< •■«>' S8 v If -v jMteSti ||a£%^ r' jS ssfSifi T -M v f, H 4W '"^^l 'iiA El wn .JJ ?i l^^HHli^ the fbcefroatof
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      197 36 I, t Bk 1A,4 t H"[ y &pt 99M jL THEBUSINESSTIMES^* 'J& Businessman the Year Award Winner t V| ■BHPHH |g^^^B|g "Hp y»_| S yy v ■KH69B3BB|^Bh U Venture company that thrives on innovations. 1 Our people are committed to pursue excellence and we provide them the opportunities to I
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      146 37 ri ftfldTS 11T SIICCCSS Businessman of the Year Award Winner r FUmii Mmchlnm Mf&. Mecomb Singapore A member the Si me Singapore Group ■jjjjft Mecomb Malaysia Sdn. Bhd. K| A member of the Sime Derby Group Hewlett-Packard Singapore (Sales) Pte Ltd Test Measurement 13 Texas I Expanding Possibilities INSTRUMENTS ißansiEC
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      83 38 y eexpßE** f I -KTB&* msm^—-.. IfcfS^i brtf Winning the coveted Asian Freight Industry Award for Best Express Service for 13 years running, MMf we seem to be unstoppable. And with both customers and industry peers consistently voting us iniwl'sttmTawards 6 es ur P° s| t' on of leadership looks
      83 words