The Business Times, 23 October 1999
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1999-10-23
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The Business Times
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Title Section15 1999-10-23 1 THE BUSINESS TIMES mAjn^jsrawftv, 85* SING APORE Internet: http: business-times.asial com.sg/ SATURDAY. OCTOBER 23. 199915 words
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Article40 1999-10-23 1 OM 9017.38 (-0.12) ,0,77(133 (+2.25) Hg FTmnss STOCK KAIKETINDH35 Friday Change ELSE COUP 79M9 AM NIKKEI np*m jh HANG SENG 118UI8 +S44J6 SET INDEX 177.11 JAKARTA OOMP —N4.18 -1U1 MANILA COUP —UtfJB 47* TAIPEI WP! imn *17 p&tMLOtt)40 words
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Article65 1999-10-23 1 FOKEX KATES VSt 81 un \m £(B8l/8$per£) 1J78 17» 1J81 UH DM L8U MB YEW 1H.4 HW* n tm urn BIS 7.771 MM Mffj «M3 8WUBL. CJN—IJM* •at* mm* -jftUE BATES 1 P1ALA liMPfWt ~~?S -MARIA 40.00 BAJWaOK 1M» mamla u.« HONGKONG _J 8* TSMPH__ 8.17 SYDNEY 7JS TOKKO65 words
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825 1999-10-23 1 Shoeb Kagda - p:il exclusive Nine-member economic council to revive economy and oversee crucial reforms From Shoeb Kagda in Jakarta INDONESIAN President Abdurrahman Wahid will create a new powerful National Economic Council (NEC) within his administration charged with reviving the devastated economy and overseeing crucial825 words
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448 1999-10-23 1 Eddie Toh - No comment yet from ELSE, SES on latest UEM offer From Eddie Toh in Kuala Lumpur THE Kuala Lumpur Stock Exchange is still mulling over its Singapore counterpart's proposal for a staggered release of the frozen Clob shares. "It's a448 words
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Article, Illustration1338 1999-10-23 1 Jaime Ee - DBS Bank's new corporate relations MD says ifs not local or foreign talent but just talent that counts By, Jaime Ee [SINGAPORE] Charles "Chuck" Newton can't understand what the fuss about him is all about. DBS Bank's new managing director for corporate relationsARTHUR LEE - 1,338 words
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Advertisement75 1999-10-23 1 Top stories ST Engg posts 24% net profit rise. Pg 3 art Fair Price expects to hit $1b billion turnover. Pg Are economists as important as gaibagemen? Pg 7 m? JUB^ Millennium 1 countdown: Island getaways with lop-class resorts. HHHH I I Is Alan Greenspan f yesterday's hero? Pgll 'II75 words
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Advertisement12 1999-10-23 1 Parties' nominated candidates, Next Page Hwwwndi rally in South Sulawesi, Pg 912 words
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Advertisement9 1999-10-23 1 UEM oiler more generous for blue chips, Pg 59 words
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Advertisement207 1999-10-23 1 RAINBOW FLY-BACK Case and bracelet in ateel. Equipped with the legendary ZENITH EL PRIMERO movement, the only automatic chronography movement to beet at 36*000 att Jhour. Chronograph functions coordinated by a column wheel. The FLY-BACK function allows to instantaneously re-start a new timing measurement, pressing on a aingle push button.207 words
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ON THE grapevine
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Article199 1999-10-23 2 SOME light-hearted remarks were heard yesterday at a luncheon talk on the very sober subject of attracting international capital. Chris Donville of Bloomberg News introduced Richard Gnodde, guest speaker at a Foreign Correspondents Association lunch yesterday, as someone well known in the world of high199 words
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91 1999-10-23 2 IS the Singapore financial planning industry finally coming of age? A Singapore-based team has published the first financial planning journal in the region, Asia Financial Planning Journal. The journal, targeted at financial planning professionals, will be published quarterly. "In a nutshell, AFPJ aims to create a91 words
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Article90 1999-10-23 2 COOPERATIVE NTUC Fair Price does not just help its members stretch their dollar. "Whatever money NTUC Fair Price makes goes back to the members and trade union movement. It stays in Singapore. It doesn't go to Holland, Hongkong, tax shelters like Bermuda or the British Virgin90 words
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Article79 1999-10-23 2 WE got this advisory on a new product, Exsativa, which is effective in reducing the symptoms of male menopause, that is, inability to concentrate, memory loss, irritability, lack of desire and energy. What Exsativa does is to significantly increase the free testosterone levels. Those worried about79 words
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Article, Illustration625 1999-10-23 2 Catherine Ong - Ariftn ex-Japan have hit USsloob so far this year, op 30% from whole of'9B By Catherine Ong [SINGAPORE] Asian companies hit by the regional crisis are finally giving in to pressure to sell out or merge. Latest figures show that mergers and625 words
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Article, Illustration320 1999-10-23 2 He was absent at state banquet at Chinese embassy Reuters, AFP [LONDON] Was Prince Charles' absence from a state banquet given on Thursday by Chinese President Jiang Zemin in honour of Queen Elizabeth a show of contempt for China's human rights record? Yes, reported theReuters,; AFP; REUTERS - 320 words
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Advertisement59 1999-10-23 2 B V LG A R I ALUMINIUM Spirit of innovation j> k j In aluminium, rubber and steel. Automatic or quartz movement. Available in three »ize*. From S$ 2,000 Available in Singapore at Bvlgari, Hilton Hotel 737 1652 Takaihimaya Department Store 735 6689 and: Dickson Watch Jewellery, The Promenade 73259 words
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Advertisement177 1999-10-23 3 The overwhelming success of Paya Übi These features have been a big puff But Industrial Park phase I& II sale has a lot for our last batch of factories, we are to do with the unique advantages of our throwing in a even bigger incentive our factory units. Superb frontage177 words
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SINGAPORE companies
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464 1999-10-23 3 Lee Han Shih - By] Lee Han Shih SINGAPORE Technologies Engineering said yesterday il would acquire sister company, weapon and munitions maker Chartered Industries of Singapore, for an "effective" $78 million. ST Engg will actually pay $268 million to buy CIS from their464 words
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Article, Illustration637 1999-10-23 3 Jennifer Lien - Group plans to boost export sales through strategic alliances By, Jennifer Lien SINGAPORE Technologies Engineering (ST Engg) yesterday posted a net profit rise of 24 per cent to $145.2 million for the nine months to September. The defence-related group, which releases its results on637 words
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398 1999-10-23 3 Ling Su Ann - But counters end largely flat despite active interest** By] Ling Su Ann [SINGAPORE] Indonesianlinked stocks took centrestage yesterday to lead Singapore's most active counters following the Indonesian presidential election. Buoyed by optimism that the election of Megawati Sukarnoputri as Vice-President would bring about398 words
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416 1999-10-23 3 Teh Hooi Ling - SembCorp subsidiary to offer 125 m shares; price to be determined by book-building By' Teh Hooi Ling SEMBCORP Industries subsidiary Singapore Food Industries (SFI) has received in-principle approval for a mainboard listing. SFI will offer 125 million shares in its initial public offer, or416 words
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508 1999-10-23 3 siow li sen - ISMH lock s.ew siow li sen Emotions ran so high this week when the qualifying full bank (QFB) awards were announced that some financial people were taken aback. Although there had been a lot of speculation about which banks would get the six awards,508 words
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COMPANY Briefs
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51 1999-10-23 3 ROTARY Bngtiww lim mnl Haertsq )t>tertPoweD Industries have formed an equal joint venture, Powell Industries Asia. The venture will provide power control rooms to oil, gas and petrochemical pbtttsninlsled industries. The company's nominal paid-up capital of S2 win be raised to 1300,000 to finance its51 words
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42 1999-10-23 3 FOLLOWING the approval for its bonus issoe, San Teh saflMfWotikl adjust the exercise prices of its shore or'lonsand waiiauUduwuswdsacoordinidy. Bonos options and bonus warrants wID also be taewd to the respective securities holders on anaeforllvt hUa.42 words
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49 1999-10-23 3 SINGAPORE Telecom and United Overseas Bank have teamed up to launch a new credit card oallad the BingTel-UOB Visa. The co-brand card taps the combined (mltswer base and oflbrslnnovativs sendees like automatic credit eifenston via mobile phone and <he Sing Tel Mobile services.49 words
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36 1999-10-23 3 Reuters KSPPKL Corp said this week it had completed the .".transfer of its 24 .5 per cent stake or I<B ft nrtlftnn shares in Singapore Petroleum to KeppeiFsls&Mrgy 6 iSlfi Infrastructure.—ReutersReuters - 36 words
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94 1999-10-23 3 ACE Dynamics has decided not toproceed with the proposed acquisition of shares in Aries Development Pt» Ltd as it is not satisfied with the restritsafbOlli Che financial and legal due dfligmoe investigations carried out by the company's advisers. The vendor had not ptovfcled the infbrmwtlflti94 words
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682 1999-10-23 5 Eddie Toh - But it will reap greater windfall of RM4b if there is fall acceptance -i a analysis From, Eddie Toh in Kuala Lumpur HOW does the revised offer for Clob shares by United Engineers Malaysia compare with its previous offer? The answer is682 words
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189 1999-10-23 5 SOMERSET Holdings the former Liang Court has arranged for an odd-lot market which will arise from a recent asset swap between it and its major controlling shareholder, Pidemco. In a statement yesterday, Somerset said it has arranged with Kay Hian Pte Ltd to make a189 words
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440 1999-10-23 5 Eugene Low - Share price discount to purchase price reflects uncertainty By\ Eugene Low AVIMO Holdings, which closed down five cents at $2.88 yesterday, should continue to trade below the $3.60 per share that Thomson-CSF is paying to take control of the Singapore-listed440 words
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SINGAPORE markets
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Article376 1999-10-23 4 itow GoMan AgriUSlOc 27,931,000 Aata Fboa&Prop US$ 16,430.000 •Q#ntmo km 6,882,000 8«ngg1Qc 6.840,000 VSbti dwHorat 6514,000 S«nbCofp425c 5,756,000 8ingT«i16e 5,561,000 Boon WW) 4,180,000 P«tama2Sc 3,942,000 Ffcat Capital 3*19,000 S1A 2&808.450 DgSGip 28,421,713 °£BC 26,*****4 SPH 18,508,108 CJyDwrSOc 17,568,154 UOBRwrtgn 17,3*5,900 anqT«!15o 16,623.658 Nat Bsc 10c 16.171,810 8TEngo10c 15*882,470 8«nb&pl28c 11«88M70376 words
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Article, Illustration588 1999-10-23 4 r. sivanithy - l-i I comment STOCKS r.sivanithy A VOLATILE session on Wall Street and selling pressure in the Indonesian market yesterday gave local players the jitters, leaving stocks weaker across-the-board after an encouraging start. Indonesian-linked stocks provided the main talking point but although these588 words
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Article, Illustration198 1999-10-23 4 R Sivanithy - WARRANT WATCH -By R Sivanithy WHEN evaluating the attractiveness of a warrant, the conversion premium and gearing are the most important indicators. However, sometimes, it's necessary to supplement these figures with a rather crude but arguably equally valid means a quick198 words
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Article, Illustration279 1999-10-23 4 Wong Wei Kong - HOT STOCK By Wong Wei Kong A WEEK and a half ago, we took a look at ST Engineering and said the stock should continue on its way up. ST Engg shares were $2.30 at the time and since then, the stock has put on279 words
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Article41 1999-10-23 4 Monetary Affairs Pedro Solbes to sneak at forum entitled 'The Mediterranean at ft* Crossroads of the New Mfflaimih and nffiftrtng to beimoBmi man of tb® Inderal Reeerve Board mvllnwUlba tfce towte Fpttfldiiftipto Enropfnii fffftifrlfc f Tiff *^%»£y£ aSB41 words
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Article, Illustration488 1999-10-23 4 larry wee - comment CURRENCIES Greenback's inability to recapture S$L67 level favours more S$ strength larry wee THERE was scant respite, for the US dollar In Asian currency markets yesterday, despite a modicum of pre-weekend profit-taking by those who had sold the greenback for most488 words
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Advertisement191 1999-10-23 4 wKwfim**" f* iffWitffir 4 i Ik. 111 HHB WWr^T^y^gf f s lrjL -iflF Let The Straits Times Weekly Edition provide Posted weekly to your home, The Straits Tunes you a crisp summary of every week's major Weekly Edition makes sure that you do not lose news breaks reported in The191 words
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Advertisement14 1999-10-23 4 Want to talk investments with your peers? jc forum at "http://iol.dbs. com.sg" gji >[tSBANK14 words
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Article2767 1999-10-23 5 N*«am v w um«nmiai mss i uo un. 043 out. MM TV LY TV LY UMTBMSM MM I WML (MM WL ML nim 0m» am mm mm lmmmam s«h i tan ists om ul ————————J—. LM-JaaerMrt MO* I «JM B4M 7-40 <JM M30 OH* (UTS OM2,767 words
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Advertisement424 1999-10-23 5 PERTAMA HOLDINGS LIMITED (Incorporated in the Repubtic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN THAT an Extraordinary General Meeting of Pertama Holdings Limited (the "Company") will be held at The Boardroom, 315 Out ram Road, #01-01/02 Tan Boon Liat Building, Singapore *****4 on 9 November 1999424 words
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SINGAPORE news
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Article, Illustration536 1999-10-23 6 Kalpana Rashiwala - Supermarket giant's first-half turnover rises 7% to $470 m By] Kalpana Rashiwala SUPERMARKET giant NTUC Fair Price is confident of hitting $1 billion in turnover in the current year ending March 2000, after achieving a 7 per cent first-half increase to $470 million. AARTHUR LEE - 536 words
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744 1999-10-23 6 Quak Hiang Whai - President Kim working with, not against corporate giants, Mr Lee says Reports by* Quak Hiang Whai in Seoul SOUTH Korea's press may have been speculating that the Seoul Economic Forum would be used by the powerful chaebols as a platform to resist744 words
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356 1999-10-23 6 SOUTH Korea's decision to participate in the United Nations peacekeeping force in East Timor was in part a move to "repay its obligation" to the world body for its efforts during the Korean War, President Kim Dae Jung told Senior Minister356 words
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292 1999-10-23 6 DEPUTY Prime Minister Lee Hsien Loong will meet top US finance officials as well as address American investors at a Credit Suisse First Boston conference during a threeweek working visit to the United States starting tomorrow. He will be accompanied by his292 words
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653 1999-10-23 7 Anna Teo - I 3on the economy forecasts The economist's job is to produce good ideas and insights about policy or else they become irrelevant By. Anna Teo IN a recent New York Times News Service syndicated article, writer Jonathan Fuerbringer asked: If the forecasts of Wall653 words
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Article, Illustration621 1999-10-23 7 Corinne Kerk - By I Corinne Kerk THE millennium's coming. And along with that, fears that our lives will be utterly shattered by one mere blimp. Still, for those who aren't hanging around to find out, it's best to get away to some place where the millennium621 words
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Article57 1999-10-23 7 CHEMICAL giant Du Pont and Seagate Technology, the world's biggest disk drive maker, yesterday received Singapore's highest corporate award at the Regent Hotel. Deputy Prime Minister Tony Tan presented the 1999 Distinguished Partner in Progress Award to Du Pont's Singapore managing director Roger Moore57 words
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Article233 1999-10-23 7 THE Telecommunication Authority of Singapore (TAS) yesterday said it is inviting views from the industry and the public on two issues; the third generation (3G) cellular network and fixed-mobile interconnection. Of the two consultation papers, the first Framework for 3G Cellular Cellular Network Deployment233 words
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567 1999-10-23 7 Phoon Geng Chee Singapore via Internet - M/M.BAfl Phoon Geng Chee Singapore via Internet THIS is a strange world we live in when even a customer-oriented organisation like Citibank turns out "lemons" once in a while. Perhaps it is the untrained part-time telemarketers who have yet to master567 words
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459 1999-10-23 7 Mak Yuen Teen Singapore via Internet - Mak Yuen Teen Singapore via Internet I refer to the reply by the Ministry of Finance ("Govt supports incentives but...", BT, Oct 21) to Kenneth James' article ("Starts-ups seek stock options help", BT, Oct 18) which cited calls for more favourable459 words
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84 1999-10-23 7 Lim Seng Sheoh Singapore via Internet - Lim Seng Sheoh Singapore via Internet I AM greatly amused by the comment of your Lee Han Shih in "En bloc sale law for landed property, too?" (BT, Oct 19). If what he says is correct. Bill Gates can eventually buy all the landed property84 words
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294 1999-10-23 7 Denis Distant Singapore via Internet - Denis Distant Singapore via Internet I REFER to your report "UEM makes less punitive Clob offer" (BT, Oct 22). What did Clob investors do wrong to be penalised in the first instance? And up to 80 per cent discount makes it look294 words
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201 1999-10-23 7 Denis Distant Singapore via Internet - Denis Distant Singapore via Internet I REFER to the Hock Lock Siew article "Want reason to shun nil-paid rights" by R Sivanithy (BT, Oct 16) and would appreciate early clarification from the Stock of Exchange of Singapore as to why they accept a201 words
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Advertisement397 1999-10-23 6 Where to wine, dine and entertain... Mi Treat yourself to a wide range of Japanese cuisine. Enjoy lempura, Sushi Rolls, Sashimi, Soft Shelled Crabs and many more plus tantalising desserts. Buffet Lunch 8C Dinner: £23.50 (Adult), 50% discount (Child) ftjmcbtlmtyexceptSaturday "Tunch"from 12noon to 4.30pm. Dinner mgbtiy) Call 290 8218/298 0011397 words
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Advertisement48 1999-10-23 6 Jpßfiß Revolving fl StSSteigSSSSi Restaurant a SSsSSSSSSSJS l»th floor I B SHitSSSSs Every Saturday, Sunday Public Holiday IMfflffl ISSSSfKM 11.30 am -2pm 2.30pm -spm Adult: $23+++ mam TP A A JJI/V AT NEW HEIGHTS Reservations: 831 6258/88 333 Orchard Ro*d Singapore *****7 M: 737 4411 Fax: 732 236148 words
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Advertisement36 1999-10-23 7 You can email us at btletterQsph.com.sg, fax to us at *****71, or mail your letter to The Business Times, Times House, 390 Kim Seng Road, Singapore *****5. Please give your full name, address and telephone number.36 words
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MALAYSIA news
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518 1999-10-23 8 Diana Oon Abdullah - System guaranteeing depositors' foods in the event of a bank failure likely to mirror that in US From, Diana Oon Abdullah in Kuala Lumpur MALAYSIA'S central bank is considering the establishment of a deposit insurance scheme as an alternative to government518 words
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Article, Illustration362 1999-10-23 8 KUALA LUMPUR AFX-Asia MALAYSIAN First Finance Minister Daim Zainuddin said yesterday that the government would continue to push ahead with the restructuring of the nation's financial system and corporate sector. "Any delay in the corporate restructuring exercise will impede our progress towardsAFX-Asia; FILE PHOTO - 362 words
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301 1999-10-23 8 KUALA LUMPUR Reuters MALAYSIA'S central bank has told banks that mergers must result in financial groups with shareholders' funds of at least RM2 billion (SsB7o million) each, a newspaper said yesterday. Bank Negara also said in a circular outlining merger guidelines thatReuters - 301 words
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Article, Illustration296 1999-10-23 8 Eddie Toh - Improvements in infrastructure will make switch easy From] Eddie Toh in Kuala Lumpur THE Kuala Lumpur Stock Exchange is considering a shorter stock settlement period of three days after the transaction, compared to the current T+s system. "It's something that is actively being studied. WeFILE PHOTO - 296 words
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498 1999-10-23 8 Ruth Wong - It will use the RM2O4m proceeds to reduce borrowings From\ Ruth Wong m Kuala Lumpur DEBT-RIDDEN Malaysian Resources Corporation Bhd (MRCB) yesterday agreed to divest its stakes in an independent power producer and the power plant's future operator to conglomerate Sime498 words
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377 1999-10-23 8 KUALA LUMPUR Reuters MALAYSIA'S International reserves have taken their steepest fall since Asia's financial crisis erupted in mid--1997 with borrowers repaying their foreign loans. The central bank reported yesterday that its gold, foreign exchange and other reserves fell to RM113.95 billionReuters - 377 words
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423 1999-10-23 8 KUALA LUMPUR Group's performance in H2 expected te be better than in HI AFX-Asia PERLIS Plantations Bhd said it is planning a reorganisation of group companies around a number of core operations, with the focus on its unlisted leisure and entertainment unitsAFX-Asia - 423 words
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MARKET moves
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121 1999-10-23 8 THE usually quiet Malaysian motor stock, Tan Chong Motor Holdings Bhd, saw its shares zoom ahead yesterday on heavy trading following the announcement of special dividends to its shareholders. Tan Chong, which is undergoing a demerger exercise, had initially offered its shareholders odd lots121 words
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Article73 1999-10-23 8 INVESTORS seem to be encouraged by United Engineers (Malaysia) Bhd's revised offer for frozen Clob shares yesterday, with its share price closing 20 sen higher at 6.80 Malaysian ringgit. UEM officials said that if all Clob holders accepted the offer and if the company sold73 words
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53 1999-10-23 8 Ruth Wong - Compiled by. Ruth Wong MALAYSIAN utility Tenaga Nasional reported on Thursday better-than-expected earnings 0f773 million Malaysian ringgit (*****.3 million) for its 1999 financial year but that failed to spark interest in the stock. Tenaga ended a mere five sen higher at RM8.6053 words
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SOUTH east asia
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569 1999-10-23 9 BANGKOK Agreement will alllow firm to pay off creditors and stay in business Reuters THAILAND'S biggest corporate debtor, Thai Oil, yesterday agreed to a radical US$2.2 billion (553.7 billion) debt-restructuring deal which will allow it to pay off its creditors and stay inReuters - 569 words
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352 1999-10-23 9 JAKARTA Bloomberg INDONESIA'S annual debt payments could rise to US$9 billion (5115.3 billion) within two years, potentially nudging the South-east Asian nation to default on its international debts, Standard Poor's said. Whether Indonesia can maintain its "CCC+" credit standing—already on reviewBloomberg - 352 words
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Article, Illustration52 1999-10-23 9 [JAKARTA] Blackmarketeers trading US dollars and Indonesian rupiahs on the street yesterday following a strengthening of the rupiah. The Indonesian unit improved as the security situation in Jakarta easedfbllowing the election by the Indonesian Parliament of Mr Abdurahman Wahid as President and Ms Megawati Sukarnoputri asAFP - 52 words
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Article, Illustration351 1999-10-23 9 U MANILA AFP FOUR to five strong banks are expected to emerge as the dust settles from a rapid consolidation of the Philippine financial sector, President Joseph Estrada said yesterday. "Consolidation of big banks is the best thing that can ever happen to ourAFP; FILE PHOTO - 351 words
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390 1999-10-23 9 BANGKOK Sector remains unattractive to investors Reuters THAI finance companies have reported a mixed set of third-quarter results, reflecting increased trading on the local stock exchange but also daunting problems facing the sector. Analysts said that although a few of the top finance ArmsReuters - 390 words
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122 1999-10-23 9 SEOUL Bloomberg THE Government Service Insurance System (GSIS), the Philippines' second-largest pension fund, is being sued by Industrial Bank of Korea and other financial institutions for failing to repay loans worth US$ll mUlion (5118.7 million). The three Korean banks and two Philippines banksBloomberg - 122 words
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302 1999-10-23 9 JAKARTA AFP THOUSANDS of students rallied in Makassar, the capital of Indonesia's South Sulawesi province, yesterday to demand an independent state of Sulawesi, police and television reports said. The massive protest was the first fresh outbreak of separatist unrest in the country sinceAFP - 302 words
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Article57 1999-10-23 9 IN a table on Thai banks' third-quarter financial results which we published yesterday, we erred in showing that Standard Chartered Nakornthon Rank posted a loss of 4A billion baht in the July-Sept 1999 quarter. On the contrary, the bank reported a net profit of 4.8 billion baht during this57 words
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NOTE Book
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Article60 1999-10-23 9 AFX-Asta [BANGKOK] Thai Fanners Bank pic hM acquired &7J& million shares, or aroond 6.1 per cent, to lhai Telephone aby, theßang/mk No of ownership of the shares from unit Phatra Thanakit r; Separately, the report said Hud Farmers Bank has bought 5.06 per cent,AFX-Asta - 60 words
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Article28 1999-10-23 9 Bloomberg (JAl^Alb^ tari^tytttmrfCT yesterday. Indonesia, which vies with Vietnam a» the ■mtflfriffllt ppodtyftf flftlV* tPbPSta coffee, T1 ffmrths, fikl the Association "f TmfrmeflliiiCQfft* F.fpr>r-»m-c fffrrhhej walntii flfflrg—BhomimgBloomberg - 28 words
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Advertisement5 1999-10-23 9 Strait Talk TtaßßlßrassTDflß Shipping times5 words
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Advertisement92 1999-10-23 9 BETTER TECHNOLOGY INSIDE Three technology groups and their competences 1. SEGHERSbetter technology for services+machinery: 3. SEGHERSbetter technology for water technology for technological services for the industry. water and waste water treatment 2. SEGHERSbetter technology for solids-fclean energy: technology development and implementation of solutions Our hands-on experience increases our efficiency, for92 words
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Advertisement3 1999-10-23 9 ■bDAY<Ba<t-4«. lanheZaobao is3 words
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EAST asia
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413 1999-10-23 10 Meera Tharmaratnam - Analysts scramble to upgrade group in anticipation of more deals From Meera Tharmaratnam in Hongkong CONGLOMERATE Hutchison Whampoa, which is controlled by billionaire Li Kashing, closed 3.6 per cent higher yesterday following its decision to sell its 44.8 per cent stake in Orange,413 words
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268 1999-10-23 10 HONGKONG Reuters THE launch of the much-anticipated Tracker Fund will go ahead regardless of the market's mood for the initial public offering, due to kick-off on Monday, according to Hongkong Monetary Authority Chief Executive Joseph Yam. He admitted the Tracker Fund had affectedReuters - 268 words
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282 1999-10-23 10 Bloomberg [TAIPEI] Taiwan Semiconductor Manufacturing Co, the world's No 1 maker of cus-tom-designed chips, said third-quarter net income almost tripled, though the results were lower than expected because of lost production from last month's earthquake. Earnings rose to NT$6.l4 billion (***** million),Bloomberg - 282 words
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Article, Illustration80 1999-10-23 10 [BEIJING] The world's first all-Chinese cast to star in the Walt Disney musical 'Beauty and the Beast'performing during a preview of the show in Beijing on Thursday. More than 60 performances will be produced by Japan's Shiki Theatre in the Chinese capital withREUTERS - 80 words
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Article483 1999-10-23 10 TAIPEI But less serious than last month's; no deaths, 126 iqjnred, much less damage Reuters, Bloomberg A STRONG earthquake jarred Taiwan yesterday, injuring 126 people and disrupting life for many but causing no deaths and far less damage than the huge September quake that killed 2,400Reuters,; Bloomberg - 483 words
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SOUTH asia
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362 1999-10-23 10 NEWDBLHI It mmni litfi Bijtrfltnrihi iwf accused in Swedish arms deal scandal alleging fa Mthbflffcff AFP INDIAN federal detectives yesterday filed the first charges in the *****0f0rs arms scandal, naming slain premier Rajiv Gandhi among the accused, the Press Trust of India said. The CentralAFP - 362 words
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Article, Illustration632 1999-10-23 10 New Delhi Firms will now pay 15% of revenue in fees instead of a fixed annnal amount Bloomberg INDIA'S new government has changed the way telephone companies are charged for licences, aimed at attracting new investment to its $6 billion (5510.2Bloomberg; FILE PHOTO - 632 words
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344 1999-10-23 10 NEW DELHI Bloomberg INDIA'S new cabinet said late Thursday that it would seek the assent of the country's lawmakers to allow derivatives trading and help companies diversify their risks. The proposal will be tabled as a bill in Parliament at theBloomberg - 344 words
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WORLD news
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570 1999-10-23 11 WASHINGTON Survey finds that nearly 9 out of 10 investors hold stocks for the long term LATWP THE stock market has become America's main pension plan and savings bank, attracting funds from 48 per cent of American households and becoming aLATWP - 570 words
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WORLD Watch
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Article89 1999-10-23 11 Bloomberg [TOKYO] Nomura Securities Co and Nlkko Securities Co —two of Japan's biggest brokerages—reported their best profits in nearly a decade, as a stock market rally boosted commission income. Nomura, Japan's largest brokerage, reported 54.73 billion yen (*****.6 million) in group net income for theBloomberg - 89 words
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Article, Illustration74 1999-10-23 11 Reuters [NEW YORK] Actor DustinHoffinan displaying a pair of men's underwear bearing his name before presenting designer Calvin Klein with GO'S Men of the Year Award In Fashion at the Beacon Theatre in New York on Thursday. GQ magazine honours 16 men of distinctionReuters - 74 words
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Article71 1999-10-23 11 AFP [LONDON] The British economy grew more quickly than expected in the third quarter, official figures showed yesterday, providing a further argument in fevour of raising interest rates. Gross domestic product grew by 0.9 per cent in the July-September period from the previous three months,AFP - 71 words
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Article75 1999-10-23 11 Bloomberg [STOCKHOLM] Ericsson AB, the world's third largest cellular phone maker, said third-quarter profit fell a less-than-expected 16 par cent and raised its 1999 sales forecast because of soaring demand for its network equipment Net income fell to 2.61 billion kronor (*****.9 million), or 1.33 kronorBloomberg - 75 words
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77 1999-10-23 11 Reuters [SAN FRANCISCO] Intel Corp plans to unveil its festest-ever Pentium HI chips on Monday, but analysts said the launch —a key (me for the chip giant—may be overshadowed by the lack of a much-anticipated chipeet which will delay products from some PC makers.Reuters - 77 words
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Article, Illustration80 1999-10-23 11 Reuters [NEW YORK] Singer Gloria Estefan showing children the Internet site Quepasa.com at the Casita Corel Center in New York on Thursday. The Internet site announced at the centre that it will start a major community initiative for Hispanics in economically challenged areas. Quespasa.com and GatewayReuters - 80 words
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385 1999-10-23 11 SAN FRANCISCO AFX THE warning by International Business Machines Corp that the Year 2000 transition will dampen growth in the fourth quarter and early next year may mask more severe problems at its hardware division and could force the company to implementAFX - 385 words
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420 1999-10-23 11 NEW YORK Prospects real that inflation may make a comeback in US Reuters FOLLOWING years of strong growth without significant price pressures, prospects are real and must not be ignored that inflation may make a comeback in the United States, a senior USReuters - 420 words
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Article, Illustration614 1999-10-23 11 NYT IT was only eight months ago that Alan Greenspan was on the cover of 7¥me as the most prominent member of "The Commit tee to Save the World, "a man who had prevented global economic meltdown by rytw MjHriimtfcll oil over themselvesNYT; FILE PHOTO - 614 words
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836 1999-10-23 11 Anthony Rowley - Japan, developing countries at odds with US, which is insisting on narrowly-based contents From. Anthony Rowley in Tokyo WHAT promises to be tense, last-ditch negotiations over the contents of the proposed new global round of trade and investment liberalisation will open in Lausanne, Switzerland,836 words
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Article, Illustration397 1999-10-23 12 NEW YORK Top US companies see signs of improved prospects FT SOME of the largest US branded goods companies gave cautious indications on Thursday that consumer confidence is returning to emerging markets. Coca-Cola, McDonald's and Colgate-Palmolive have all suffered in the past year fromFT - 397 words
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247 1999-10-23 12 TOKYO Bloomberg JAPANESE businesses, ranging from cell phone providers to real estate agents, are gearing up for a rise in demand from customers, a government report showed yesterday, signalling the economy probably expanded in the third quarter. The Ministry ofBloomberg - 247 words
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487 1999-10-23 12 Christopher Tan - From Christopher Tan in Tokyo TOYOTA Motor Corp, Japan's largest vehicle maker, experts to end the year with a 20 per cent rise in Asian sales to 228,000 units; and by another 18 per cent to 270,000 units by end-2000. Although the487 words
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Page 12 Advertisements
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Advertisement1924 1999-10-23 12 I NOTICESTo advertise call toll-free 1800-741 1883 Fax No: 741 1298 UNCONDITIONAL CASH OFFER (THE "OFFER") BY IRISCA INVESTMENTS PTE LTD (THE "OFFEROR") FOR FORM HOLDINGS LIMITED ("FORM HOLDINGS") ANNOUNCEMENT OF LEVEL OF ACCEPTANCES Vickers Ballas Company Pte Ltd announces, for and on behalf of the Offeror, that as at1,924 words
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Advertisement43 1999-10-23 12 Lost uour ir Try finding it at Classification 821 (Found) of The Straits Times Classified. fa CATS. Bay ft. Sal ft. FM ft. your cue! Yew weekly 9«Me to pots m 4 lewfes every Friday hi The New Paper Fastads Cm r#r 143 words
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NET tales
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Article, Illustration2799 1999-10-23 13 James J Cramer - We reproduce here extracts of a recent speech by James J Cramer, founder of James J Cramer, James J Cramer is manager of a hedge fund and co-founder of The Street.com. At time of publication, his fluid was long America Online, The Street.com and Yahoo! TheFILE PHOTOS - 2,799 words
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FINANCE & commodities
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246 1999-10-23 14 Daphne Tay, Jardine Fleming - EBKELReports gj7igapnrft Tnitor Daphne Tay, Jardine Fleming THE Singapore stock market closed flat in lacklustre trade yesterday in the absence of fresh domestic factors. Participation was thin as investors stayed cautious ahead of the weekend. Both the Straits Times Index and the MSCI Singapore Free Index246 words
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Article191 1999-10-23 14 Cecilia Loh Refco Singapore - MSCI Taiwan tatares Cecilia Loh Refco Singapore THE Simex MSCI Taiwan Stock Index futures plummeted 4.60 points or 1.35 per cent yesterday after an earthquake with a magnitude of 6.4 hit the island, bringing the accumulated loss for the week to 11.50 points. The Taiwan Weighted191 words
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235 1999-10-23 14 ENERGY WORT Bloomberg [NEW YORK] Crude oil rose 2 per cent after Phillips Petroleum Co shut down a 300,000 barrels a day oil field in the North Sea off the coast of Norway because of a leak in a gas coolingBloomberg - 235 words
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Article326 1999-10-23 14 AFP, Reuters THE US dollar gained more than a cent against the euro yesterday, buoyed by stronger US stocks and benign eu-ro-zone inflation data, but analysts said the future direction of the currency was not clear cut. The euro fell to 10-day lows against the dollar below US$l.O7AFP,; Reuters - 326 words
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Article, Illustration952 1999-10-23 14 ntTHRBAMK CTOS8 KATBg Oct 22 *1 d t— >i i> M9»9»Mi im H *nm*> Hm 8t *mt Mr W» 9* AMtraNa 0.964 4779 0.602 DM LTH 5.054 ********** 0.666 7240 2472 1262 ***** 24.171 IMS 1990 0.960 20.660 25.496 OJM 448 CMKto 1038 168 022S 4096 1221 9244 29JOT *****952 words
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Article997 1999-10-23 14 uuoMnmi— oa 22 law te llcW -i t TTO J»M 67.00 67.00 (9.50 TOO 3240 l** 00 .U 4 0 Jt n75 3W5 nt29meoNiaMT(»MM) h Mai 'mi. |jifc£$ ftMMrt mttrwt "S»w 2ao M £8 25 &I < J* SS SS 33 S3 SS 88 gf—— g* g 'S A £2997 words
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STOCKS east asia
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Article, Illustration2694 1999-10-23 15 HONGKONG AFP UJ Hang Seng +34(108 HONGKONG share prices surged 2.7 per cent yesterday on buying support spurred by positive corporate developments. "The main reason for the rise is positive corporate news," said Michael Ng, associate director at Sassoon Securities. Conglomerate Hutchison WhampoaAFP - 2,694 words
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Article, Illustration909 1999-10-23 15 AFP P Shenzhen Bhig *3J>4 SHENZHEN'S hard currency B shares closed sharply higher yesterday, buoyed by a news report that French brokerage BNP Prime Peregrine Securities had recommended buying Chinese stocks, brokers said. The B Share Index surged 3.54 points, or 4.9 per cent, to 76.45 as turnover roseAFP; Source: Credit Lyonnsis Securities(Asia) Ltd - 909 words
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Article364 1999-10-23 15 AFP □WP Intel MX TAIWAN share prices fell 1.2 per cent yesterday on a heavy sell-off in technology shares as investors fretted over the impact of a powerful earthquake on the earnings of microchip makers, dealers said. The Taiwan Stock Exchange Weighted Price Index lost 96.27 points to 7,559.63,AFP - 364 words
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Article1910 1999-10-23 15 TOKYO AFP □NitXa22s -1.47 SHARE prices in Tokyo edged down 0.1 per cent yesterday as investors locked in profits amid concerns about the outlook for Wall Street and expected bleak corporate results from some Japanese firms, brokers said. The Nikkei Average 0f225 selected issues finishedAFP - 1,910 words
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STOCKS klse
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Article7818 1999-10-23 16 1999 Last Bay Nat Cap mn> Um jgg gala -000 ljfe__Ug__Nt__tgg 440 255 Ajtaomoto 3K) -W.7 125.6 174 44 Anqkese 95 -I n 95 94 140.1 404 220 ApoNoFoodHlq 318 2 2 318 3W 74 127.2 294 115 8er)oyeLend WO 1 102 181 176 5.8 1247# 995 450 C&CSintanq 7807,818 words
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Article, Illustration274 1999-10-23 16 AFP riOwqwrite Intel AM MALAYSIAN share prices ended slightly higher yesterday in modest trade ahead of the weekend due to light bargain-hunting on selected stocks, dealers said. The Kuala Lumpur Stock Exchange Composite Index rose 0.56 point, or 0.1 per cent, to finish atAFP - 274 words
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Page 16 Advertisements
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SES clob & regional stocks
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Article2401 1999-10-23 17 BOMBS &WABRAMTS 0*22 m mm ■g» IMM laal M tm MM *m Urn* Cmi tar u» tmmm Mi t» r—m mm u» —>■ w KM 8 s 3160 »AcarWOK)731US$ 37.5 OS 27 37.3 363 34.5 373 33J 1 «8 f* 2 50 V» s 3164 Acma WOW724 30 unch IS2,401 words
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Article, Illustration710 1999-10-23 17 AFP QsETlafax +U3 THAI shares closed sharply higher yesterday, soaring 2.7 per cent on continued buying in banks and finances amid the release of some positive third quarter results, dealers said. The Stock Exchange of Thailand (SET) Index rose 9.98 points to 377.16, while the select SET SO wasAFP - 710 words
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Article258 1999-10-23 17 AFP PlfamU -37J4 PHILIPPINE share prices closed 1.9 per cent lower yesterday on foreign selling and concerns over higher inflation and interest rates, brokers said. The Philippine Stock Exchange Composite Index fell 37.94 points to 1,946.68. Volume declined to 1.3 billion shares worth 7.5 billion pesos. —AFP wa HmAFP - 258 words
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Article, Illustration645 1999-10-23 17 AFP □CwaptßteMn -1131 INDONESIAN shares closed 2 per cent down yesterday as investors locked in profits, with a lack of foreign participation deepening the sell-off in late trade, dealers said. A dealer at a local brokerage said the fall was largely due to profit-taking after recent gains. "I thinkAFP - 645 words
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Article279 1999-10-23 17 AFP QWeDmgUm -gj» NEW Zealand's shares continued their bungee ride, closing on a downward bounce yesterday. "One day you've got a buy in a stock and the next day you have a sell on it," said a broker. The NZSE--40 Index was down 13.09 points to 2,090.24 on turnoverAFP - 279 words
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Article511 1999-10-23 17 AFP QjADOrdmuiee H. 4 AUSTRALIAN shares rose 0.3 per cent yesterday with media stocks rallying on recommendations for the removal of cross-media ownership laws, brokers said. The All Ordinaries Index rose 9.4 points to 2,837.3. The All Industrials Index rose 23.7 points to close at 4,901.4, while the AllAFP - 511 words
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Article265 1999-10-23 17 FP Q Composite Index +LOl THE Korea Stock Exchange Composite Index closed up 1.01 points at 819.52. Volume stood at 235.8 million shares worth 2.4 trillion won. —AFP •rtO MMM ***** 250 Brain Toe* 2260 MO Central Bar* 3050 -145 CholCoww ***** 500 DmHC«r> 4525 -15 OwmCwt mo -65FP - 265 words
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Advertisement3 1999-10-23 17 HHHHiHIHUHHHIHIHiUHH^TTspeciaP in Wednesday3 words
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Article6729 1999-10-23 18 BOARD Transaction date:Oct22 92-Wk Lot V«| Day LMt (Ml 01* r!t MM Cm Aw| hm> t— mm ciwpny m» room nig* l— Bwyer urnm cw p/t im* Prtoo 182 I7.S m b 1000 Acme 50c 110 cd unch 38 no 108 109 no 10 33 43 9 1826,729 words
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Page 18 Advertisements
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Advertisement9 1999-10-23 18 the new I I The Business Times every Monday9 words
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RUGBY world cup
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Article, Illustration814 1999-10-23 19 SHARIRON SAHARI - The stage is set for the kind of clash the purists wanted to see, SayS BHAHXROMSAHAKX SHARIRON SAHARI BY a fortuitous stroke of coincidence, the quarter-finals of the rugby World Cup have aligned nicely into what was envisioned would be the theme of the tournamentAFP PHOTOS - 814 words
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Page 19 Miscellaneous
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Miscellaneous1939 1999-10-23 19 CRYPTIC CROSSWORD 1 Sun block from Europe bor- 1 E I 6 I P |Hp I P I F I P 5 They are often cast as follow- 9H flB 9 Reign disrupted by ship's ar--10 Sign of a fashionable food ad- H| |B| 11 Ignorant tinker had need of1,939 words
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Advertisement194 1999-10-23 20 Ernie Els' Choice j^vrp^h^H 4 ■hhhpi^^^H Jt i fIP /ar HrfK«||gy/ Jt V ■I i If/ co J *L in vE7/^I ■i|i, ißili Br fr '-lyr j~ /ff HnH wswMmc jit nß^^H|^B^H I m //I it fi/ aff x_Y Ho i < .isf, rf# MTFffTif (lr rrff# X mm m194 words
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