The Business Times, 2 October 1999
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1999-10-02
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The Business Times
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Title Section15 1999-10-02 1 THE BUSINESS TIMES MITA (P) 046/12/98 85* SINGAPORE Internet: http://business-times.asial .com.sg/ SATURDAY, OCTOBER 2, 199915 words
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Article56 1999-10-02 1 sn 206L2f (+29.33) mrnvt-m U 778J3 (+13.09) fismsanmiES U 279-80 (+4.50) STOCK BASKET DUNCES Friday Chanfe KLSEOOMP 180.07 +4JJ NIKKEI- 17,712J6—+107.10 SSmSBX 407JS +17.74 •&UXTA COMP —566.04 +1M0 MANILA OOMP __2,***** +6.76 TAIPEI WH 7,094 J® +9610 SEOUL COMP 839J5 +117 OS A CHINA B AUSTALLORD t912J +11556 words
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Article75 1999-10-02 1 FOKEZ BATES USI SI US8 UK £<US$/8«|wr£) MM 1801 EURO per E) 1.071 1,818 DM \W U» TBI l«j 1J«« HM SJW 0.447 HKS 7.717 0.219 BAHT 40.74 0.M2 JBJFIAH 8,000 0.021 •SnolCOtoiM* PUKE KATES SINGAPORE* 5.80 KUALA LUMPUR 7 25 JAKARTA .40.00 BANGKOK 10.00 MANILA 11.00 HONGKONG 8.2675 words
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712 1999-10-02 1 Conrad Raj, Siow Li Sen - the day ICS holders get choice of $5.50 cash per share, or $6 in DBS shares Byl Conrad Raj, Siow Li Sen [SINGAPORE] DBS Group Holdings is taking associate company Insurance Corporation of Singapore private, offering ICS shareholders a hefty premium of $1.26712 words
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Article, Illustration732 1999-10-02 1 Shoeb Kagda - He intends to buy 19.9% of the carmaker from Ibra; deal to be announced In a week or two From, Shoeb Kagda in Jakarta ONE of Indonesia's most prominent businessmen, William Soeryadjaya, is making a comeback after being forced to sell off his prized732 words
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502 1999-10-02 1 Marissa Chew - 1 11 exclusive Ghost Month, fewer units on offer see just 1,000 units sold By] Marissa Chew [SINGAPORE] New home sales plunged by two-thirds in the third quarter, reflecting the traditional slowdown because of the Ghost Month as well as502 words
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Page 1 Advertisements
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Advertisement67 1999-10-02 1 Drama TOP STORIES 9% drop m SES Sept trading volume *9* V UK investors buy Asian funds again pg* Electronics firms' H2 seen dependent on components Pg 3 Asean warms to a Down Under initiative 9*7 How much tourism contributes to S*pore's GDP? *98 Donald Tsang: Vital to have infl67 words
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Advertisement79 1999-10-02 1 v —~p_ —y v i JF y '> V *:\S%: V' ?^*t v Available at: Cortina Watch Centre SINGAPORE :Cortina Watch Centre Pie Ud Raftes City #01-36 Tel 339 9185 Fax:339 1566-Lucky Plaza #01-32 Tel 734 3668 Fax: 738 1873 MWanta Walk T«l: 339 1728 Fax: 339 3458 The Paragon79 words
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THE next page
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Article, Illustration589 1999-10-02 2 Ven Sreenivasan - Trend indicates shift to heavyweights and bine chips By' Ven Sreenivasan [SINGAPORE] Trading on the Stock Exchange of Singapore fell by almost a third in terms of units last month from August as investors remained sidelined in view of the589 words
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Article, Illustration123 1999-10-02 2 SerrfeebyßritiskTalMacekargM leftteftirttaM Reuters [LONDON] It will be business as usual for high-ißying executive® even at36,ooofeet from next year when airline passengers will be ahle to use their mobile phone*, surf the Web and and send e-mails in mid-air. The developments were announced byReuters - 123 words
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623 1999-10-02 2 Neil Behrmann - -i i exclusive After seven months of inflows, fnnds now turning cautions From Neil Behrmann in London BRITISH institutions and investors were aggressive buyers of Asian equities in the seven months to July, according to the UK Association of Unit Trusts, the local623 words
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ON THE grapevine
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Article87 1999-10-02 2 DEUTSCHE Bank's loss is ING Barings' gain. After the German bank took over Bankers Trust, 14 people from Bankers Trust's equity finance and securities lending units—both the bank itself and its securities arm, Bankers Trust Alex Brown walked out and went over to Barings. Leading the pack87 words
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Article119 1999-10-02 2 GOING by talk in the local stock market, the recent fall in the price of property stocks is not only due to fear of interest rate hikes and other fundamental reasons. There are rumours that some foreign brokers have been short-selling counters like City Developments and DBS119 words
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Article64 1999-10-02 2 THE American magazine Newsweek has some 12,000 subscribers in Hongkong and almost 30,000 in Singapore, according to figures given out by Frank Proctor, who heads its Asia Pacific operations. In contrast, Newsweek has the biggest Asian setup in Hongkong, employing about 33 people, two more64 words
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Article, Illustration78 1999-10-02 2 THOSE who work with Bill Gates, who is famous for flying into a temper during discussions, have some good ways to deal with it. In one meeting, Mr Gates reportedly went into a tirade which ended with his trademark: "That's the most stupid78 words
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Article56 1999-10-02 2 THIS is a case where a perfectly normal name in one language can sound awful in another. The stock exchange in Finland is called, logically, the Helsinki Exchange and known internationally as HEX. In English, a hex is a spell or a curse, commonly cast by56 words
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Article75 1999-10-02 2 IN addition to laying claim to the title of Her Majesty's Secret Agent, James Bond is also the world's greatest salesman. Having hawked BMW cars, Ericsson mobile phones and Smirnoff vodka in his previous outings, he is set to brandish his hand-held HP Journada 430se computer to75 words
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Page 2 Advertisements
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Advertisement57 1999-10-02 2 Hello? I'm calling about /(josh, I'm so happy your advertisement in f Krcat Just f I found my pet through The Straits Times Classified... J I t^e a d J V e traits Times Classified. I rynSSy Buying or selllrut through —I |OV The Straits Times Classified is child's Nay.57 words
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SINGAPORE companies
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Article, Illustration514 1999-10-02 3 Jennifer Lien - Strong results in HI bat Taiwan quake worsens shortage worries By, Jennifer Lien LISTED electronics companies delivered a strong set of first-half results in line with expectations, but second-half profits will hinge on the price and availability of components, analysts said. This is514 words
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566 1999-10-02 3 quak hiang whai - i::«>j:<iocksiew quak hiang whai INVESTORS in the Hongkong stock market face several uncomfortable scenarios. Foremost is the growing prospect of further upward adjustments in interest rates in the US which many reckon would lead to further hikes in Hongkong rates since566 words
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247 1999-10-02 5 A QUICK completion to Van Der Horst's loan restructuring is unlikely, even though the company has made some progress. About a month ago, VDH announced that the company and the restructuring sub-committee of its lenders had arrived at an in-principle agreement on a term247 words
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Article, Illustration390 1999-10-02 5 Teh Hooi Ling - Metal engineering specialist to offer 12m shares to public By' Teh Hooi Ling [SINGAPORE] Nam Lee Pressed Metal Industries, a homegrown one-stop metal engineering specialist in steel and aluminium products, is offering 47.5 million shares at 42 cents each forCHRIS LOH - 390 words
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260 1999-10-02 5 TPV Holdings has drawn a 23 times subscription rate for its initial public offer, a level comparable to other foreign currency listings this year. At the close of its offer on Thursday, TPV received applications for 177 million shares worth $47.1 million. The computer260 words
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COMPANY Briefs
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Article59 1999-10-02 5 HOTEL Grand Cantrsl said ysetarday that ChimGtai Huat, who has just bean aenteaeedtoftmr months'jaSfcr tax evasion and ordered to pey a penalty of H .08 million, resigned es a director of Hotel Grand Central «d two subeidiariee with eflbctflnom Sept 28. The two subsidiaries are Grand Central59 words
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Article59 1999-10-02 5 WEE Cho Yaw's Tye Hue Nomineee has bought more sharee in United Overeeae Land (POLX The property aii of United Overe<aa Dai ifc aah I Tye Hue bought BBLOOO UQL eharae on Sept 28 at an average prlee of H4M each. The purehaee raieae59 words
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80 1999-10-02 5 SINGAPORE Aircraft Lsasing Enterprise (8ale) hM confirmed that it will get a US$lOB million, 12-year secured loan facility. The company will nee the Joan to finance a new Boeing 777-800 aircraft, which it ie buying from Emlratee and will be delivered to the80 words
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59 1999-10-02 5 LLANG Court sum uvsd the change of Its name to Somerset Hotdlnge and its aeeet swapwtfli PkhtnooLand. Its chief executive, KseTscfc Boon, nld tlse dim dno|t is tiie cornsrstons ofs strategic move to Jaimeh the company Into its nnt state ofgrowth, end to achieve its59 words
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68 1999-10-02 5 IPC Corporation, which Is now dose to finattataga scheme to reetructure its debts, sddlaet night tat the company "is ahls to continue as a going oooearn". Updating the firm's situation. IPC said there has been sufllctottnftra •ecuritieaThedirectorB.it added, "have made and will ocmttouetomake timely dieckieuresnd68 words
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Article98 1999-10-02 5 COMPACT Metal Industries yeeterday eliiwrslsil i hi lis grocp will w»athg the tough period ahaad as it has euglclamorderetnhmH le 1M» Some of these pK^ects PTOIS aarently Inprogreee contract fbr the Installation ofunitised curtain wall system Ibr the SMtoreyJTC headquarters, with completion likely by end ofthis98 words
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Page 3 Advertisements
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Advertisement66 1999-10-02 3 Hffl UHSIH Din H b the world of bofiMi, information cm often be the key to realising your f^gg ambition#. Which is why for 23 yean, achievers hare subscribed to Singapore'* INTELLIGENCE CHANGES EVERYTHING M 1 and insights. And now, it will be using this expertise to deliver intelligence that66 words
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Page 4 Advertisements
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Advertisement2891 1999-10-02 4 I NOTICES To advertise call toll-free 1800-741 1883 Fax No: 741 1298 ROTARY ROTARY ENGINEERING LIMITED (Incorporated in Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Company wiH be held at 17 Tuas Avenue 20. Singapore *****8 on 18 October 19992,891 words
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Advertisement82 1999-10-02 4 Classified First. v v-jV J» Want a home with a sea view? Or simply seeking a new nest? Make the right move: Check The Straits Times Classified First. CATS Buy It Sd It Had It I warma Wfe* free! If it's time you take a break, explore the Travel Section82 words
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Article1606 1999-10-02 5 m h»i4 i tm urn. qlm ul 2L EL ILi2L i «m« n» muo X twtx UMAM»9C «*a 9 1907 ATM AM SM AMMU. CM nm n MM I MM ATM UO 0J> AMNWgt S«p30 I (UM CUPS (Ul OJM UMKQhui IMSO P 114a amj nt>1,606 words
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SINGAPORE markets
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Article, Illustration553 1999-10-02 6 r. sivanithy - I :i I comment STOCKS r. sivanithy AN overnight rally on Wall Street, apparently because interest rate fears have receded, spilled over throughout the region yesterday and lifted the Straits Times Index 29.33 points to 2,051.26. Property stocks were said to553 words
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Article, Illustration211 1999-10-02 6 R Sivanithy - WARRANT WATCH By R Sivanithy CITY Developments has had a bit of an up and down time recently—when Goldman Sachs wrote a covered warrant on it a few weeks ago it looked headed for $11; earlier this week though, shareholders would have been211 words
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Article, Illustration261 1999-10-02 6 Ven Sreenivasan - HOT STOCK By' Ven Sreenivasan SINGAPORE Telecom has been in the limelight ever since Credit Lyonnais issued a covered warrant on the stock recently. The counter was the second most active stock yesterday as it jumped eight cents to $3.18 on a volume of some261 words
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Article67 1999-10-02 6 Satarfey, Oct 2 ♦9am. 31st Asean Economic Ministers related meetings. Raffles City Convention Centre Taipefe The 'Taiwan Stock Exchange holds a Saturday trad* ing Mm National <j»hii«h are in Bflur, Uttar Pradssh, West Bengal and cartons other JMMMMm Comptegf holds its Fall Business mn 4 Trade Exposition.67 words
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Article, Illustration490 1999-10-02 6 larry wee - t comment CURRENCIES Next week may see test of 6-7 resolve to defend the greenback against yen larry wee THE US dollar continued to look distinctly flaccid with the passing of Japan's Sept 30 accounting deadline, and Asian490 words
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Article371 1999-10-02 6 Uattm Vofci» *G«ntfnglnt 10,686,000 SingTel 15c 6^45,000 WlngTai2Sc 7,122,000 IPCCarpn5c 6,721.000 AataFoodAPrapU8$ 6,220,000 InHmHonal Pi— OoHcom Sc 5,110,000 QoUv)Agri U810c. 4,566,000 HolunglnvNTS 4,121,000 DBS Land 4,046,000 DelwnAIOc 3,744,000 SIA 27,752,626 8knT«l15c 26,000,366 OC&CRmign 21,406,660 NUBKIOC 16JJ71.090 DatacnftlOc 16,679,140 OeSQrp 16J60J281 DBS Land 12,864.460 UOBForaign 12,786,360 CtyOawSOc 10^67,618 VWngTai2Sc 9,966,840 8toeto371 words
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Page 6 Advertisements
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Advertisement159 1999-10-02 6 melodramatic tragedy of Carmen, based on the novel by Prosper Merimee, is the most popular of all operas. Staged in English by Opera Concert Productions (Worldwide) Ltd, :X»r this poignant tale set in Seville in 1820 recounts the catalytic chain of events which led to the inevitable but tragic death159 words
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Advertisement13 1999-10-02 6 Want to talk investments with your peers 7 °zs y "http://iol.dbs. com.sg" £<[)[')SE>ANK13 words
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SINGAPORE news
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Article, Illustration1164 1999-10-02 7 yang razali kassim - An Awean-Aussto-HZ common market could emerya by Mlfl dayHa mr wim i I comment ASEAN yang razali kassim THE first significant move to link Asean with Australia and New Zealand in an expanded free trade area got under way yesterday, pushed ironically inREUTERS - 1,164 words
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Article, Illustration532 1999-10-02 7 Consumers more upbeat about economic prospects and job security Reuters SINGAPORE retailers, many of whom have forgotten the sounds of ringing cash registers, can hope for brighter days as Asia emerges from its economic doldrums, but sales may take a long time to reachReuters; FILE PHOTO - 532 words
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271 1999-10-02 7 Andrea Tan - KasterGard Asian Ideals survey covered 13 Asia-Pacific markets By, Andrea Tan SINGAPOREANS save the most when it comes to their children's future education, a survey of 13 Asia-Pacific markets shows. Close to half or 49 per cent of Singaporeans set aside more than271 words
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Article, Illustration763 1999-10-02 8 ANNA TEO - lon the economy tourism Visitor arrivals' economic contribution cuts across various industries, amma teo finds out ANNA TEO TWO pieces of economic news this week the revamp of the GDP industry groupings and the latest visitor arrival figures sparked a little query: now where doSource: Dept of Statistics - 763 words
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305 1999-10-02 8 Reuters [SINGAPORE] The Petrochemical Corp of Singapore (PCS) is expected to get the go-ahead this month to invest some US$7O million (Ssll9 million) to raise its ethylene capacity by about 17 per cent, sources close to the project said on Thursday.Reuters - 305 words
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Article, Illustration1072 1999-10-02 8 Roy Varghese Singapore via Internet - —"T.nan Roy Varghese Singapore via Internet The writer is an independent financial planner and investment representative. He is also a consultant to a local bank for training its investment sales representatives and private bankers. TWO unrelated articles in The Business Times on SeptFILE PHOTO - 1,072 words
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342 1999-10-02 8 Joyce Chang - Joyce Chang Corporate Affairs Manager MCL Land Ltd WE refer to the letter from Dave Simpson ("MCL's Devonshire site bid: some queries", BT, Sept 30). We thank Mr Simpson for his views and would like to clarify the matters raised. Mr342 words
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180 1999-10-02 8 Kang Tian Tee Singapore via Internet - Kang Tian Tee Singapore via Internet FINDING a Clob solution should be (and must be) the responsibility of the Stock Exchange of Singapore. It created Clob and allowed its trading existence; with the cessation of trading of Malaysian shares, SES must hence180 words
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161 1999-10-02 8 Elbert Poh Singapore via Internet - Elbert Poh Singapore via Internet THE aim of the cut in employers' CPF contributions is to help companies get out of the crisis and I support the scheme. However, judging from the interim results, many companies have made significant profits for161 words
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203 1999-10-02 8 Denis Distant Singapore via Internet - Denis Distant Singapore via Internet I REFER to the letter from Narayana Narayana, "Broker won't deal in odd lots? Ditch him" (BT, Sept 25). The objective of my earlier letter was to convince SES (Stock Exchange of Singapore) to establish a transparent basis for203 words
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Article88 1999-10-02 8 Koon Juan Singapore via Internet - Koon Juan Singapore via Internet I HAVE heard that the artificial sweetener, aspartame, can cause severe health damage. When I surfed the Net to find out more about it, I was shocked to learn that there are several strong lobby groups against the use of88 words
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85 1999-10-02 8 Abedeen A Tyebally Singapore - Abedeen A Tyebally Singapore I REFER to your front-page article "Margins getting too thin: top-end developer" (BT, 29 Sept) featuring an interview with David Lawrence of Marco Polo. Mr Lawrence's comments must be taken with a large dose of salt. He is used85 words
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Page 7 Advertisements
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Advertisement8 1999-10-02 7 A Classified I 111 cats. VJ| 11 Nlllttlltt8 words
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Page 8 Advertisements
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MALAYSIA news
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MARKET MOVES
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Article165 1999-10-02 9 CIGARETTE company Rothmans Malaysia yesterday posted the day's biggest gains on the Kuala Lumpur stock market, picking up 1.40 Malaysian ringgit, or 5.7 per cent, to RM24.60. The buying support was overdue, analysts said, as the stock had been oversold for some time, partly due165 words
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Article117 1999-10-02 9 THE finance index gained 48.5 points to 5,257.59 yesterday, helped by gains made by Maybank, Arab-Malaysian, Commerce Asset and Phileo. Yesterday was the first day that merged banks Commerce-Asset and Bank Bumiputra started operating as Bumiputra-Commerce, and Commerce-Asset's stocks were up 20 sen to 6.95 Malaysian ringgit,117 words
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Article83 1999-10-02 9 Diana Oon Abdullah - Compiled bj! Diana Oon Abdullah CONTINUED selling pressure on Renong and its loan stocks resulted in the two counters topping KLSE's most active list for two consecutive sessions yesterday. Renong's loan stocks churned the top volume of 5.5 million units. The counter posted a loss of83 words
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363 1999-10-02 9 Diana Oon Abdullah - From. Diana Oon Abdullah in Kuala Lumpur STRONGER oil and oil palm prices helped Malaysia's trade surplus to expand further in August, making it the 22nd consecutive month of growth. August's surplus of 6.66 billion Malaysian ringgit (S|3 billion) is363 words
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Article, Illustration460 1999-10-02 9 Eddie Toh - Sellers nay get bends, shares, net cask analysts From] Eddie Toh in Kuala Lumpur THE Malaysian central bank governor yesterday brushed aside concern over the viability of the mega mergers that have to be completed by the second quarter of next year.460 words
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456 1999-10-02 9 Eddie Toh - State govt, RHB mutually agree to end share exchange deals sealed in November last year From'. Eddie Toh m Kuala Lumpur THE Pahang state government has terminated the deal to bail out Rashid Hussain Bhd (RHB) following news that456 words
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Article, Illustration489 1999-10-02 9 LONDON ItH pay, along with Amerada Hess of the US, £136 m for stake Bloomberg PETRONAS, Malaysia's state-run oil company, and Amerada Hess Corp said yesterday that they would pay £136 million (Ss3Bl million) to buy shares of Premier OU pic, helping theBloomberg; FILE PHOTO - 489 words
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246 1999-10-02 9 BANGKOK Bloomberg THAILAND, the world's largest rubber producer, said it had asked Malaysia and Indonesia to create a new rubber group to support prices following the dissolution of the International Natural Rubber Organisation (Inro). The new group would comprise onlyBloomberg - 246 words
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Article, Illustration311 1999-10-02 9 KUALA LUMPUR AFP A MALAYSIAN opposition leader and lawyers hit out yesterday at government suggestions that lawyers be barred from politics, calling it a blow to democracy. Ibrahim Ali, deputy minister in the prime minister's department, said on Thursday the governmentAFP - 311 words
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SOUTH-EAST asia
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489 1999-10-02 10 THAI CORPORATE RESTRUCTURING Repayment time exim bank KfW buys 24% stake Bloomberg [BANGKOK] Telecom Asia Corp Pel, Thailand's biggest fixed-line telephone company, signed an agreement with creditors under which 63 billion baht (552.6 billion) of delinquent debt will be cutBloomberg - 489 words
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405 1999-10-02 10 ■BANGKOK Bloomberg SIAM City Cement pel, Thailand's second-largest cement maker, said it will raise as much as US$444 million (*****.5 million) through loans and bond sales to replace existing debt with cheaper borrowings. The company will refinance its US$2OOBloomberg - 405 words
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Article, Illustration697 1999-10-02 10 Harish Mehta - ZMTO THE FUTURE By- Harish Mehta [BANGKOK] THAILAND will step into the new millennium with a new Constitution that promises clean elections and a civil society led by the Chuan government that is winning plaudits for the economic recovery, and a possible ratings697 words
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Article, Illustration55 1999-10-02 10 [LOS PALOS, East Timor] Two East Timorese boys sitting outside the entrance ofa building at a Los Palos church compound on Thursday after some food distribution by the United Nations. British Gurkha troops led the most far-reaching humanitarian mission to Los Palos since the beginning of the internationalAFP - 55 words
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154 1999-10-02 10 BANGKOK Reuters A DOZEN heavily-armed men stormed into the Myanmar embassy in Bangkok yesterday and took at least 30 people hostage, including two Singaporeans and two Malaysians, before demanding to be flown to the Thai-Myanmar border. The men, armed with grenades and assaultReuters - 154 words
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335 1999-10-02 10 BANGKOK Report says Moody's officials to visit Thailand this month Reuters, AFP THAI share prices, closed up 4.6 per cent yesterday on buying in banks, finance firms and other blue chips, amid speculation Moody's Investor Service is preparing to upgrade sovereign ratings laterReuters,; AFP - 335 words
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364 1999-10-02 10 JAKARTA AFP, AFX-Asia INDONESIA will face a backlog of US$4.6 billion (517.8 billion) in delayed programme loans from multilateral agencies and Japan by March 2000 if the Bank Bali scandal is not resolved, according to World Bank sources and documents yesterday.AFP,; AFX-Asia - 364 words
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NOTE Book
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Article23 1999-10-02 10 Bloomberg [JAKARTA] Indoneaia said it willrnlnsan Inrtsgmrtsnl auditaofstate oil and gaß company PTFerlamhn, power firm PTPsrusahaanListrikNigsrs, and state logistics agency Butognest week.—BkumbmtBloomberg - 23 words
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Article60 1999-10-02 10 AFP [MANILA] The Philippines and the International (IMF) yeeterday agreed to revise r upwards economic gniwthtargstafbriaWtawrspfigi y; up the fifth review of an existing USSI.t-billion (Slb.4 billion) loan ftkcility. Both agreed to raise the outlook for real GDP to 3t03 .5 per cent this year fromAFP - 60 words
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Article54 1999-10-02 10 Reuters [JAKARTA] Indonesia yesterday reported itaae*entli straight month offalling prices in another dpi that recovery is on to 6 wsy* its BEBOBOCS dutmii npqrki month-omnonth inflation ofminus aw per csat in September, bringing the yeeron-ysarrals—-whlsfc pttai^iwtW,4pfrcwitin^'p^wffbsrlafty'wir—down Is IJS percent Us trade sorpiQeofUStLSßhlllkM hi August waaReuters - 54 words
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46 1999-10-02 10 AFP [JAKARTA] Indonesian share prices are expected to- move up tn the coming week after risinge.4pareant In the week to yesterday, as the new national assembly convened for the first time since historic free elections fti June, analysts say. —AFPAFP - 46 words
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INTERVIEW donald tsang
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Article, Illustration2539 1999-10-02 11 Tom Plate - Markets will smooth things out but in the process overturn countries By 1 Tom Plate The writer is a bos Angela Times Contributing Editor and Syndicated Asia Columnist. He is also prttfiessor of policy and communication studies at University of California,LAT - 2,539 words
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EAST asia
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Article, Illustration475 1999-10-02 12 BEIJING He pledges again to bring Taiwan back to mainland role AFP CHINESE President Jiang Zemin warned yesterday that socialism was the only way to bring China into the new millennium intact and thriving, reiterating a pledge to bring Taiwan backAFP; REUTERS - 475 words
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345 1999-10-02 12 TAIPEI Losses from qnake damage will account for up to 4% of GDP, says China Development Bank AFP INDUSTRIAL losses from the earthquake which hit Taiwan on Sept 21 could total up to USIIO billion (Ssl7 billion), the China Development Bank said yesterday. TheAFP - 345 words
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220 1999-10-02 12 WASHINGTON Reuters SINO-US trade talks are not expected to resume before the middle of this month, hurting Beijing's chances of joining the World Trade Organisation this year, analysts said on Thursday. But US and Chinese officials are still holding out hope ofReuters - 220 words
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Advertisement70 1999-10-02 12 HB^fß^^^WM^^K^ 9vflvttYflA3fl Kfl lllls- :^P^AV?-THTPi w l^«S.^SSSiffl®^s||w^^^^ffll!^^i3tss<S*?»&S^^^®Pi^Sp^VsB^ilDßsE3B^s^^^^^^^^^v > p P .^r^rSutW^^!fl2^^®s®WPJ'^!B^^3 v Director Eric Khoo s films may well be known to movie buffs at home and around But unlike an actor, a That's why Eric carries the American Express® Card. So now, he will always be sure of instant70 words
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SOUTH asia
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476 1999-10-02 13 BOMBAY Analysts see upturn in cyclical industries after three years of slowdown Reuters CORPORATE India is well on its way to strong earnings growth in the current financial year following an upturn in cyclical industries after three years of slowdown, analystsReuters - 476 words
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Article, Illustration77 1999-10-02 13 (C ALCUTTA] A man walking past a wall in Calcutta on Wednesday with a drawing put up by opposition parties mockingly depicting Atal Behari Vajpayee, the Indian prime minister and Bharatiya Janata Party (BJP) leader, asa cricket batsman trying to play with an odd teamAFP - 77 words
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354 1999-10-02 13 NEW DELHI Reuters, AFP INDIA'S Bharatiya Janata Party-led alliance is expected to win 12 seats more than the 272 required for a parliamentary majority in the ongoing elections, according to the latest opinion poll published yesterday. "According to the Timespoll survey, theReuters,; AFP - 354 words
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417 1999-10-02 13 NEW DELHI Software firms said to be making malicious code Reuters INDIAN officials yesterday slammed as ridiculous a suggestion by US officials that Indian Y2K (Year 2000) software firms could have been used to smuggle in computer codes aimed at threateningReuters - 417 words
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Page 13 Advertisements
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Advertisement98 1999-10-02 13 w£lmmXKPti\ -k j, wM iB I■ w 818 C9Bfln3flM^< 4 ?^^^j»&:i^^^^||H|||||||||||H^^^^^^H fe k Bpfe llfj«|f 4&»vl&'Hso W%& Q ifc >' £%f 4? i; '4 f r A Unm~ J J iHf 1 1 r> ft j at home and around But unlike an actor, a director spends most of his98 words
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WORLD news
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713 1999-10-02 14 TOKYO Some brokers catting charges by 10-15%, others vow to slash commissions by 98% Bloomberg JAPAN yesterday scrapped rules governing brokerage commissions, allowing brokers to set their own commissions for the first time in the industry's history. While large full-service brokers like Daiwa SecuritiesBloomberg - 713 words
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522 1999-10-02 14 f J i 1i:! p review Bloomberg [TOKYO] The yen rose more than one per cent against the dollar on expectations a Bank of Japan tankan survey to be released on Monday would show increased optimism at Japanese companies, boosting the outlookBloomberg - 522 words
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Article, Illustration72 1999-10-02 14 [NEW YORK] Visitors to the Brooklyn Museum of Art looking at artist Damien Hirst's '"The Physical Impossibility of Death in the Mind of Someone Living", part of the Sensation exhibit in New York on Thursday. The piece contains a tiger sharkAFP - 72 words
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508 1999-10-02 14 ■SEOUL Perk* limed at preventing mass exodus next month Bloomberg THE South Korean government said it will grant tax breaks and other benefits to investors who buy junk bonds, hoping to prevent a mass exodus next month from debt owed by the ailingBloomberg - 508 words
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304 1999-10-02 14 SEOUL Reuters SOUTH Korea yesterday nationalised ailing Korea Life Insurance Co, the nation's third largest insurance company, by cancelling its existing shares and injecting an initial 50 billion won (S|7o million) in public money. State-run Korea Deposit Insurance Corp was to inject the 50Reuters - 304 words
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Article, Illustration449 1999-10-02 14 WASHINGTON Bloomberg BANKERS attending annual meetings of the International Monetary Fund and World Bank here said on Thursday that regional differences were too deep to forge a global system shielded from ftiture financial shocks, a stance that casts doubt on a worldwide effortBloomberg; AFP - 449 words
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682 1999-10-02 15 NEW YORK Acquisitions worldwide hit record USs22t so for this year Bloomberg MERGERS in Europe topped the US in the third quarter, as hostile takeovers helped boost acquisitions worldwide to a record US$2.2 trillion (553.7 trillion) so far this year. Eight of theBloomberg - 682 words
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Article, Illustration297 1999-10-02 15 it nana Bloomberg [TOKYO] Eisuke Sakaklbara, former national aAUrs, said yesterday that be supports sotne government regulation, such aa Malaysia's capital controls, to help stabilise global financial market* "Financial markets can be activated by regulations and good monitoring by the government," said MrBloomberg - 297 words
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516 1999-10-02 15 NEW YORK Reuters [NEW YORK) Banks in the United States are pulling in profits by slapping fees on consumers for everything from late credit card bills to overdrawn accounts, but they may lose business as a result. The banks areReuters - 516 words
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Article, Illustration656 1999-10-02 15 TOKAIMURA, Japan Reuters JAPAN lifted an order yesterday for thousands of people living near the site of its worst ever nuclear accident to stay indoors, but questions remained over the environmental and human impact of the leaked radiation. JapaneseReuters; REUTERS - 656 words
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503 1999-10-02 15 U WASHINGTON Factory index rose to 57.8, highest since Nov 1994 Bloomberg US manufacturing accelerated more than expected in September as new orders and export demand increased, a National Association of Purchasing Management (NAPM) survey of executives showed. At the same time, anBloomberg - 503 words
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Page 14 Advertisements
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Advertisement6 1999-10-02 14 ■TODAY©**** yan bao W£» WA <W£»6 words
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FINANCE & commodities
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251 1999-10-02 16 Daphne Tay - «i mm* Reports m Singapore Index Daphne Tay Jardine Fleming THE Singapore stock market ended the week on a high note yesterday, spurred by strong overnight gains on Wall Street and following favourable growth estimates for the Singapore economy for the251 words
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Article170 1999-10-02 16 Charlie Kuo - ■SGI Taiwan fttnm Charlie Kuo Refco Singapore THE Simex MSCI Taiwan Stock Index futures yesterday gained behind surging oil prices that make petrochemical stocks more attractive. Investors were also encouraged by a net NT$6.7 billion (***** million) purchase of Taiwan stocks by foreigners yesterday. The170 words
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230 1999-10-02 16 ENERGY REPORT Reuters [LONDON] Oil prices were on the ascent again yesterday maintaining the gains made in the wake of last week's Opec decision not to ease supply curbs. Benchmark Brent rose 22 cents to U5523.78 a barrel by mid-afternoon inReuters - 230 words
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Article317 1999-10-02 16 Reuters THE US dollar wrapped up the week on a bearish note yesterday as the market's focus shifted back to the economic growth story in Japan and Europe from a dollar-sup-portive Group of Seven statement issued last weekend. The dollar shed most of the gains it had madeReuters - 317 words
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Article, Illustration831 1999-10-02 16 AM-sriti Marties > a yr. Staff 1 3 yn; Long: > 3 yrs DTTERBAW CROSS RATES T m mourn Hm n MM m m 9MHm* 1 52f 1040 tZ o°S 4 4°2 S SSSS I-** 2413 t«4 iMf vmmm*m un ojm ttZT Att? Art* »V2 JiS £5 2 5 1831 words
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Article1463 1999-10-02 16 SICOM F0TURB8 Octi OMKK (Mm dntaa m at SJlM) RSSICOKTUCTacwtsAv) dm Mm Om MNtt urn Utt Qmmmi Wiwt *ow99 MiOO 900 0K99 ***** 1200 J* 00 106.25 100 M00 ***** 100 > *75 *100 Apr/Jon 00 112.15 RS3C0HTMCr(HScMlaM VMM 0m !5f» u» wtt o—D xwSt "?2 5U5 2130 Oac 991,463 words
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STOCKS east asia
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Article517 1999-10-02 17 TAIPEI AFP HWPhiai «MI TAIWAN share prices closed 1.3 per cent higher yesterday on strong buying of construction material stocks amid hopes that post-quake reconstruction programmes would boost demand, dealers said. The Taiwan Stock Exchange Weighted Price Index soared 96.20 points to 7,694.99 on turnover ofAFP - 517 words
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Article1762 1999-10-02 17 TOKYO AFP Hwkkrfas *107 JO SHARE prices in Tokyo rose 0.6 per cent yesterday on gains in high-tech and telecommunication issues, with the country's worst nuclear accident causing investors little concern, brokers said. The key Nikkei Average of 225 selected issues gained 107.10 points to closeAFP - 1,762 words
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Page 17 Advertisements
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Advertisement94 1999-10-02 17 The stock market! tn Honghong and China were cloecd lew a public holiday ycrtwday The secret of success 15... jiii? Taking the right course, of course. Study the wide range of courses available in the Education/Training Section in the Classified Classifications 700 to 799 ill The grass is always greener94 words
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STOCKS klse
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Article7577 1999-10-02 18 WW r Day Net Cap MH> far Ciwpsny Bate -000 W» far P/K >a»B 440 29S Ajinomoto 310 IM 12X6 174 44 Angkasa 90.9 -03 S9 913 90 QM 404 220 Apollo Food Hlg 3)0 2 tt 314 310 104 124 0 294 119 6erleyeLand IM -1 174 170 MS7,577 words
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Article, Illustration260 1999-10-02 18 AFP nOwpoatehig +4J2 MALAYSIAN share prices closed 0.7 per cent higher yesterday on a late bout of local buying, dealers said. The Kuala Lumpur Stock Exchange Composite Index rose 4.62 points to finish at 680.07. The Second Board Index was down 0.02 pointAFP - 260 words
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Page 18 Advertisements
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Article2862 1999-10-02 19 TURNOVER (*000) VALUE COOO) mm 9— T«tot M— Ml Trtl tMHM am H.Ttl 2IN0 29,100 M«NftKtur« 34,973 2UM ***** 98,495 12.028 ***** C—W ***** 961 M307 27,00* 991 27,596 Tpt/Stor/Com 21,847 438 22,283 70,889 229 70,918 OMim IU98 11.696 77,188 77,188 CoMtructton 3,963 U229 4,788 2.108 602 2.7102,862 words
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REGIONAL stocks
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Article, Illustration840 1999-10-02 19 AFP flSEThfa *17.74 THAI share prices closed up 4.6 per cent yesterday on buying in banks, finance firms and other blue chips, amid speculation Moody's Investor Service is preparing to upgrade sovereign ratings later this month, dealers said. Firmer regional currencies including the Thai baht and stronger regional marketsAFP - 840 words
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Article281 1999-10-02 19 AFP THE Philippine Stock Exchange Composite Index added 6.76 points to close at 2,102.96. Volume feU to 2.9 billion shares worth 2.7 billion pesos from Thursday's 4 billion shares worth 4.1 billion pesos.—AFP oai n» *4- c*m Abacus Construction 1.96 0.06 2 Abort ii Equity 224 -0.04 742 ABSAFP - 281 words
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Article284 1999-10-02 19 AFP PCwnposte Intel *3J7 THE Korea Stock Exchange index closed up 3.17 points at 839.35. Volume was 260.9 million shares worth 3.2 trillion won.— AFP Ml *h Anam Semi ***** uncti Brain Tack WOO -75 Cantral Bank 2820 -100 CheHComm ***** -3900 Oaa Gu Bank 4060 -240 DeesangCorp 5400AFP - 284 words
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Article, Illustration695 1999-10-02 19 AFP Qlbafe +171 POUMUMB *18J> INDONESIAN share prices surged 3.3 per cent yesterday on renewed foreign buying interest amid a peaceful start to Parliament and a stronger rupiah, dealers said. Dealers said there was growing optimism the new Parliament would elect a new president, paving the way for aAFP - 695 words
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Article560 1999-10-02 19 AFP, AFX-Asia QAUOnbxarin +3LB AUSTRALIAN shares closed up 1.1 per cent yesterday thanks to gains on Wall Street, brokers said. The All Ordinaries Index added 31.8 points to close at 2,912.9. The All Industrials Index closed up 54.6 points at 4,983.0, while the All Resources closed 14.1 points higherAFP,; AFX-Asia - 560 words
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Article265 1999-10-02 19 AFP QVeOmgUn *38JS NEW Zealand stocks were up 1.4 per cent yesterday following Wall Street's higher close overnight, dealers said. The Dow Jones Industrial Average rose 123.47, or 1.2 per cent, to 10,336.95. Turnover was good at NZ5103.5 million. The NZSE-40 Capital Index rose 28.65 points to 2,051.83. —AFPAFP - 265 words
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Advertisement9 1999-10-02 19 HOCK LOCK SIEW Takes you behind the news TheßusinessTimes9 words
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Article6768 1999-10-02 20 MAIM BOARD Transaction date: Oct 1 Or Br M Wt M-W» Last V* Day LMt Owl* OJy W» YTJ Nrt Cm A»g Mgb Law BMta Cinwy I* COOP) High Law Iwr BaBar CMr P/l trn* Wm 182 17 J m b 1000 Acma 50c 109 cd *2 24S6,768 words
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Page 20 Advertisements
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RUGBY world cup
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Article, Illustration791 1999-10-02 21 SHAHIRON SAHARI - With professionalism a key theme, BW*HTB«WI MWM sjZeS Up the competition SHAHIRON SAHARI IN many respects, the fourth Rugby World Cup, which will be the last major global sporting event of the millennium, is the first real world cup for the sport. While there have beatREUTERS - 791 words
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Page 21 Miscellaneous
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Miscellaneous1931 1999-10-02 21 CRYPTIC CROSSWORD 1 Fairy story recalled in new I I I I I I I I I I —MB.— version (10) ll| HH |H| 9 Youngster heard mark for PH—PH—JH navigation (4) I° I I I i I 10 Within one's means, it's pleas- ■Brr""^ ant to hold gold and1,931 words
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EXEC lifestyle
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Article, Illustration1224 1999-10-02 22 TAN SUYEN - De Beers' salute to the millennium pairs designers and jewellers, producing, as tan BUVJUM finds out, some unusual results TAN SUYEN Diamonds, they say, are forever. But since forever is a bit of a stretch for mere mortals, De Beers, the world's largest and oldest diamond1,224 words
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Page 22 Advertisements
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Advertisement477 1999-10-02 22 Where to wine, dine and entertain..."^ Mß r Treat yourself to a wide range of Japanese cuisine. Enjoy lempura, Sushi Rolls, Sashimi, Soft Shelled Crabs and many more plus tantalising desserts. Buffet I JinrK Qc Dinner: #23.50 (Adult), 50% discount (Child) (Land) dotty except Saturday "lunch "from 12 noon to477 words
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Advertisement27 1999-10-02 22 ■pAN*:; PINE COURT F jy CHINESE > Bm iMwimm f October 1999 Reservations: mm CHINESE ESTVJUN7 I mmi 3)3 Orchard Rend. *****7 W: 737 4411 tac 732 23*127 words
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