The Business Times, 30 October 1999
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1999-10-30
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The Business Times
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Title Section16 1999-10-30 1 THE BUSINESS TIMES MfTA (P) 046/12/98 85C SINGAPORE Internet: http: business-times.asial .com.sg. SATURDAY. OCTOBER 30. 199916 words
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Article56 1999-10-30 1 (+43.90) mmm-su JJmM (+15.65) fl SmSCI FDTUIES U 287J0 (+6.30) STOCK 1ABKET INDICES Friday Change KIRECOUP ***** -733 NIKKEI *****98—+«&37 HANG SENO 1126«J6_+498.07 SET INDEX NU6 +571 JAKARTA COUP -W87 *1134 MANILA OOMP _i«« +47.18 TAIPEI WPI 7,***** +J432 ■dBOOtCOMP Slil +12i« (UA CHINA B ***** -Ml AUSTALLORD56 words
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Article74 1999-10-30 1 F08£X 1ATES us$ st USJ —\m £(USS/S$pcr£) 1.638 17» EliRO(US**SperE) I KS 1.7M DM \S» 1-897 YEN W3 1.5*0* im HKS 7.770 0216 BAHT J&77 0043 RUPIAH «3» 8884 St to 100 untu FUME KATES SINGAPORE* 5.80 KUALA LUMPUR 7.25 JAKARTA 40.00 BANGKOK 10.00 MANILA 11.00 HONG KONG 8.2574 words
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1170 1999-10-30 1 Eddie Toh - Disappointment for stockmarket investors; incentives for business From Eddie Toh in Kuala Lumpur THE Malaysian government yesterday went to the grassroots of its electoral support, dishing out plenty of Budget goodies for the man-in-the-street including a onepoint cut in personal income tax and a 101,170 words
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Article585 1999-10-30 1 Vikram Khanna - COMMENTARY The feel-good Malaysian Budget will give a boost to the economy but it may hold dangers down the road, says Vlkram Khanna Vikram Khanna THE Kuala Lumpur stock market may have expected more, but Malaysian Finance Minister Daim Zainuddin has unveiled a Budget that contains585 words
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Article, Illustration978 1999-10-30 1 Kalpana Rashiwala - Prices still 30.5% below peak in second quarter of 1996, USA fignres show By] Kalpana Rashiwala [SINGAPORE] Private home prices rose 8.3 per cent in the third quarter towards the higher end of market expectations bringing prices back to levels seen during the secondSource: - 978 words
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Page 1 Advertisements
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Advertisement90 1999-10-30 1 MSTOE "Ever since I've been chairmen, he's been selling. Iff I reed whet nice people like you write, I would have reellsed that the stock's been sold 50 times." ratncK uiiiam, chairman of Standard Chartered Bank, on rumours that Khoo Teck Puat is to sell his 15% stake in the90 words
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Advertisement12 1999-10-30 1 Share* end lower as Budget disappoints, Pg 4 More reports, Pg 412 words
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Advertisement60 1999-10-30 1 Vahiatkma u f|* lt |i Pg 3 Fewer new private home sales, Pg 3 interim VIM HIMIHH +23% SSTTm ■STORY,PgS I T- il I f I > i.«l> «i I<> pen -www .t .irlirr.com Singapore Ngee Ann it\ lower BC. round I loot 1,. 7 5 4 24 2" Hi60 words
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NEXT page
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ON THE grapevine
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Article140 1999-10-30 2 EQUITIES may not exactly excite at the moment, judging by the performance of most markets against a backdrop of rising interest rates and bond yields, and Y2K concerns. But noted US investment bank Morgan Stanley Dean Witter remains reasonably confident in its September/October edition of its strategy140 words
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Article112 1999-10-30 2 EVERY time George Soros is rumoured to be in the market, every broker gets excited. Yesterday, unconfirmed reports in the Hongkong market had it that the billionaire financier may be teaming up with some other investors to round up a huge chunk of shares of112 words
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Article124 1999-10-30 2 LOVE is truly a many splendoured thing. Die-hard romantics insist that love conquers all and who are we to argue differently? But when it comes to actually cementing that emotion in a wedding, certain mundane practicalities can get bothersome invitation cards, hotel bookings, menus, clothes,124 words
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Article137 1999-10-30 2 WE have heard of Deng Xiaoping's "Socialism with Chinese characteristics". A few weeks ago, we heard Hongkong's Chief Secretary Anson Chan recalling how she was being referred to as the "Iron Butterfly" and wondering to herself if that could possibly mean Thatcheresque with Chinese characteristics. Yesterday,137 words
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Article, Illustration357 1999-10-30 2 Siow Li Sen - DBS gets its first woman director Gail Fosler Second local bank to name one, alter OCBC took on Elizabeth Sam in 1996 By I Siow Li Sen [SINGAPORE] DBS Group Holdings has appointed Gail D Fosler to its board of directors, the first woman to sit on its board and357 words
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Article, Illustration984 1999-10-30 2 CATHERINE ONG - Chairman Patrick Gillam tells CATHERINE ONG he's happy enough keeping Stanchart medium-sized, thank you CATHERINE ONG SINCE he became chairman in 1993, Patrick Gillam has guarded the independence of Standard Chartered Bank pic jealously. He has convinced his board that the Lon-don-based, Asia-centric bank is better off asSIEW YAW HOONG - 984 words
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Page 2 Advertisements
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Advertisement6 1999-10-30 2 BTsian Budget: More reports, Pg 46 words
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HOUSING statistics
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Article, Illustration772 1999-10-30 3 Marina Chew - Widening gap results in third-quarter transactions falling by half By] Marina Chew HOUSING and Development Board (HDB) resale flat prices are going from strength to strength, but valuations still lag behind, leaving the resale market "very, very quiet" now with third-quarter transactions falling byFILE PHOTO - 772 words
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Article, Illustration840 1999-10-30 3 Carol Eng - Take-up down 58%; in secondary market it's down 28% By < Carol Eng MORE new private homes were launched in the third quarter but the number of units sold fell sharply by 58 per cent compared to the second quarter. From July to September,FILE PHOTO - 840 words
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468 1999-10-30 3 Andrea Tan - It points to market bottoming out, say industry watchers By, Andrea Tan PRICES of office space slipped by a marginal 0.2 per cent in the third quarter against a 1.2 per cent decline in the previous quarter, signalling that the market468 words
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Page 3 Advertisements
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Advertisement24 1999-10-30 3 Classified First. f *•*>£ Want to pick up a new hobby? Or simply join the paper chase? Lesson number one: The Straits Times Classified First.24 words
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MALAYSIA budget 2000
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550 1999-10-30 4 Eddie Toh, Ruth Wong, Diana Oon Abdullah - Analysts say Budget was people-friendly, bnt disappointing on the corporate front Reports by Eddie Toh, Ruth Wong, Diana Oon Abdullah SHARES on the Malaysian stock market reversed their early gains to close one per cent lower yesterday after the 2000550 words
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Article, Illustration797 1999-10-30 4 ON the back of fiscal stimulus, the easing of monetary policy as well as speedier implementation of public sector projects, the Malaysian government expects the economy this year to grow by 4.3 per cent, up from its earlier forecast of 1-2 perSource: Economic Report 1999/2000 - 797 words
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Article, Illustration465 1999-10-30 4 MALAYSIA will be able to maintain its currency peg comfortably despite a smaller current account surplus next year, according to economists. The country is expected to register a lower current account surplus of 35.8 billion Malaysian ringgit (5515.7 billion) next year, accordingREUTERS - 465 words
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415 1999-10-30 4 Property stocks seen correcting sharply on Monday HOPES of generous propertyrelated tax cuts were dashed yesterday as the Malaysian government announced fewer than expected fiscal changes for the property market. Listed stocks are expected to bear the brunt of the disappointment next415 words
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346 1999-10-30 4 INFLATIONARY pressures are expected to remain subdued despite the undervalued Malaysian ringgit which is pegged at RM3.80 to the US dollar. The Malaysian finance ministry said the restrained inflation rate is due to excess capacity in the economy despite the recent pick-up in346 words
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464 1999-10-30 4 If NFLs sold to D&n&h&rta are included, total loan growth would be 0-5% TOTAL loans in Malaysia shrank by 6.1 per cent in the first eight months of this year, to 377.7 billion Malaysian ringgit (*****.7 billion), compared to a 7 per464 words
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Advertisement43 1999-10-30 5 t Introducing an exciting new experience in dirfing! RL RIVER PALACE *V ib H H This allows you toselect one dish per person from the Delicious rrme Is served in a jiffy! Get for a mouth-watering set meal I served and on o43 words
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SINGAPORE companies
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640 1999-10-30 5 Lee Han Shih - Higher payont for shareholders to cost it an extra $30m By Lee Han Shih SINGAPORE Airlines (SIA), unveiling a set of impressive interim results yesterday, is giving out more cash to shareholders. The national carrier declared a 23.2 per cent jump in640 words
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Article, Illustration363 1999-10-30 5 Ling Su Ann - Store size np 50 per cent; with more books, new amenities By Ling Su Ann [SINGAPORE] Listed MPH will relaunch its new-look flagship bookstore today to strengthen its presence in the local book retail market, said general manager Wee Hian King in an interviewSIEW YAW HOONG - 363 words
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630 1999-10-30 5 r sivanithy - ISMMHIocksi r sivanithy Deregulation brings with it an emphasis on the maxim, "Let the buyer beware". As the market liberalises and companies take on greater responsibility for their own affairs, the job of the regulator is less hands-on than before. Investors and shareholders themselves630 words
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517 1999-10-30 5 Bloomberg [SINGAPORE] Chartered Semiconductor Manufacturing Ltd, the world's No. 3 contract chip manufacturer, has raised the price of its initial public offering, bringing its market value to about $4 billion. Capitalising on optimism about the semiconductor industry, theBloomberg - 517 words
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Article, Illustration462 1999-10-30 7 Company seen as contender for fntnre rail tenders; warrants surge 32%, shares rise 4% Bloomberg [SINGAPORE] Tibs Holding Ltd shares and warrants soared for a second day on optimism Singapore's second-biggest bus company might bid for new rail contracts after itsBloomberg; FILE PHOTO - 462 words
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214 1999-10-30 7 THE delisting of Delifrance Asia looks like a done deal. The cafe and bakery chain, which is being taken over by Cafe Holdings, has been suspended since earlier this month and is unlikely to resume trading. Cafe Holdings, a unit of the Prudential Insurance214 words
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COMPANY Results
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121 1999-10-30 7 PACIFIC Andes Holdings yesterday reported a 35 per cent drop in net profit to HK$lO.5 million (552.3 million) for the six months ended Sept 30. Group turnover of HK5551.3 million was 24 per cent lower. The company blamed the fall mainly on lower sales121 words
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Article87 1999-10-30 7 CHEW Eu Hock Holdings yesterday posted a hefty 70 per cent plunge in net profit to $1.3 million for the full year ended July 31 on a 25 per cent decrease in turnover to $141 million. The group said the poor results were due87 words
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143 1999-10-30 7 ABR Holdings has given ftarther information on its interim results for the period ended June 30. Because of extraordinary losses of $2.44 million, it left the company with a bottom-line loss of $1.95 million, against a bottom-line gain of $650,000 previously. Yesterday, the pub143 words
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305 1999-10-30 7 FIRST Capital Corporation has clinched the freehold residential plot at Shell's Paya Lebar Road club premises for $70 million while Trinity Christian Centre Ltd takes over the land with existing club facilities for $19.1 million. Shell Singapore said yesterday it had,305 words
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250 1999-10-30 8 Eugene Low - By Eugene Low THE former quality control manager of listed Cam International Holdings (CIHL), Tan Chor Tat, was fined $10,000 yesterday for conspiring to commit forgery. Tan, 40, pleaded guilty to four charges of conspiring with Raymond Chew Chuan Seng, CIHL's former managing director and250 words
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210 1999-10-30 8 NASDAQ-LISTED Pacific Internet is launching three online computer games shops downtown at a cost of $1 million today. Called Pacific Internet City, the shops are at Plaza Singapura, Suntec City and Capitol Building. Managed by online game operator Comp Plus, Pacific Internet City will210 words
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Article, Illustration369 1999-10-30 8 It will largely fine-tune earlier SES plan to stagger release of shares Bernama [SINGAPORE] The Securities Investors Association (Singapore) expects to cobble together its own proposal and submit it in a month to the Kuala Lumpur Stock Exchange (KLSE) to resolveBernama; SIEW YAW HOONG - 369 words
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191 1999-10-30 8 SEMBCORP Logistics has applied to list logistics subsidiary Sembawang Kimtrans on the mainboard of the Stock Exchange of Singapore (SES). The company said yesterday that the initial public offer would comprise both vendor shares and new shares, and that it would announce further details191 words
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COMPANY Briefs
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50 1999-10-30 8 WEE Poh Holdings yesterday proposed a l-for-10 bonus share issue comprising 10.9 million new shares of 20-cent par value each. The bonus shares, to be capitalised by $2.18 million from the company's share premium account, will raise its issued capital to 130 million shares.50 words
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54 1999-10-30 8 MING Wah Universal (Bermuda) Co said the Wesser Ore ran aground on Oct 4 in the navigable channel at Tubarao, Brazil, while under pilotage passage and outward bound. Smit America Inc has been commissioned to salvage the vessel and her cargo of 253,09654 words
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119 1999-10-30 8 TAI Sin Electric Cables Manufacturer has entered into a deal to buy from Fatimah binti Abdul Aziz Rose Bell and Chang Chai Woon and Wong Tim Kai 1.36 million shares of $1 each in PKS Sdn Bhd representing a 70 per119 words
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Article68 1999-10-30 8 OCBC Holdings Pte Ltd, which holds 2.79 million shares of one Malaysian ringgit each in OCBC-Perdana Futures Sdn Bhd (OPF), amounting to 49 per cent erf the issued capital, has subscribed for another 49,000 shares of RMI each. OCBC Holdings' shareholding, together with the68 words
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SINGAPORE markets
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Article452 1999-10-30 6 Stock* Volume TIBSWKX) 34,138,000 Medtecs US5c 20,395.000 'Qentfnglnl 15,014,000 CM Telecom HK75c 14,906,000 GKQohWKX) 12,070.000 Asia Food&Prop US$ 9.889.000 Rcrfy IntUSlOc 9,808,000 Strike Engg 5c 9,505,000 Golden Agri US1 Oc 8,549.000 KeppelCoip 8,431.000 Stock* SIA 45,497,252 KappeiCotp 37,668,820 NatEleclOc 20,630,383 SPH 19,651,714 TIBS WOO 19,022,670 DBSGip 18,766,460 City Dev 50c452 words
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Article, Illustration599 1999-10-30 6 r. sivanithy - hi comment STOCKS r. sivanithy A TALE of two halves unfolded in the local stock market yesterday as US interest rate fears receded. In the first half, blue chips dominated and in the second, penny stocks, particularly US dollar599 words
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Article, Illustration173 1999-10-30 6 R Sivanithy - WARRANT WATCH -By R Sivanithy WE featured Tibs' warrant in this column yesterday, describing it as an interesting but high risk play. Today's feature continues along the same lines a warrant that certainly looks nicely priced but is one for which173 words
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Article, Illustration247 1999-10-30 6 Teh Hooi Ling - HOT STOCK By' Teh Hooi Ling A GAP has occurred in Creative Technology's price chart, that is, there was no overlap in price from Thursday to yesterday. On Thursday, Creative shares were trading between $17.20 and $18.20, before closing at $18.10. Yesterday, the counter opened at247 words
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Article117 1999-10-30 6 Saturday, Oct 30 2pm. Launch of Singapore Bos Service electronic bus guide on 500 i-one terminals United State* US switches to Eastern Standard Time Monday, Nor 1 United Btitsi Waaktagtoai 10am. Commerce Department reports construction spending for September 10am. National Association of Purchasing Management releases its October117 words
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Article, Illustration513 1999-10-30 6 larry wee - :i I comment CURRENCIES Asian units hold ground on spill-over stock market gains; but yen falter larry wee STRONG overnight gains in the US stock market fuelled by a friendly inflation indicator helped the US dollar to consolidate somewhat yesterday. But robust third-quarter513 words
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Page 6 Advertisements
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Advertisement75 1999-10-30 6 WICKERS HkJHhh/ KICKERS BOUTIQUE, #82-45 TAKASHIMAYA NGEE ANN CITY TEL: 735 5224 PETITE FINESSE BOUTIQUE, #02-43/45 SUNTEC CITY MALL TEL: 337 0823 PETITE CHERIE BOUTIQUE, #02-40/41 CENTREPOINT TEL: 734 9658 lljjH DEPARTMENT STORES: DAIMARU ISETAN KATONG ISETAN SCOTTS ISETAN TAMPINES Aw^;o ISETAN WISMA JOHN LITTLE METRO MARINA SQUARE 5331 METRO75 words
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Advertisement15 1999-10-30 6 Want to talk investments with your peers 7 loir forum at "http://iol.dbs. com.sg" £j| )|',SBANK15 words
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Page 7 Advertisements
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Advertisement1516 1999-10-30 7 SinGAPORE AIRLIHES LIITIITED (Incorporated in the Republic of Singapore) ANNOUNCEMENT The Board of Directors of Singapore Airlines Limited wishes to make the following announcement:1. UNAUDITED FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 1999 THE GROUP THE COMPANY THE GROUP Apr-Sep Apr-Sep Apr-Sep Apr-Sep "vS? 1999 1996 Change 19991,516 words
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Article4411 1999-10-30 8 NX urn CPS LowKfftqHwrt S«o 24 1.072 2.578L 0 89 2.2L Oat* TY LY TY IY Llnd-Jecorberg S*p 0* I ***** K5.236 7.40 6.50 fim«inr ww ($m) ($m) Cet») <cts> Uon Asiapec Sep 23 P 1.957 4.766 035 2.08 LI xm Sep 13 I 3.228 04,411 words
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SINGAPORE news
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642 1999-10-30 9 Anna Teo - 1 Wi3 on the economy outlook Manufacturing, electronics sectors won't be the only ones in the limelight By. Anna Teo THE figures (see table) speak for themselves the third quarter economic numbers, to be released in about two weeks or so, will prove to642 words
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245 1999-10-30 9 Raju Chellam - By Raju Chellam THE National Computer Board (NCB) has published a four-page brochure to advise Singapore households on how to check and ensure that common appliances—such as a personal computer, video camera, fax machine and video cassette recorder—are Year 2000 (Y2K)245 words
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Article, Illustration292 1999-10-30 9 Jennifer Lien - From, Jennifer Lien in Washington CHINA'S entry into the World Trade Organisation was high on the list of topics discussed by Deputy Prime Minister Lee Hsien Loong and top US officials on Thursday during his visitREUTERS - 292 words
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273 1999-10-30 9 Ling Sn Ann - By] Ling Sn Ann LOCAL e-commerce company WizOffice.com, which specialises in online corporate services, yesterday announced strategic alliances with CyberWay and DBS Card Centre and its acquisition of an integrated logistics company. With these alliances, WizOffice intends to target the potential base of273 words
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457 1999-10-30 9 Harish Mehta - Move brings GICs investment in Thailand to 16b baht From Harish Mehta in Bangkok THE Government of Singapore Investment Corporation yesterday invested 690 million baht (5529.2 million) in convertible debentures of listed Thai Union Frozen Products (TUF), the secondlargest tuna exporter in457 words
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340 1999-10-30 9 Audrey Tan - By t Audrey Tan SINGAPORE could focus its research efforts by grouping its research institutes under the two universities, and making sure that they are adequately funded, a panel of top business leaders has suggested. The International Advisory Council convened by the340 words
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Article, Illustration672 1999-10-30 9 Parvathi Nayar - There are options still open for Millennium Eve 'floaters' Byl Parvathi Nayar THE countdown continues to the night of mathematical frenzy watching three nines replaced by the triple zeros and highly anticipated partying. If you are a Millennium Eve "floater", that is, one ofFILE PHOTO - 672 words
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Article, Illustration777 1999-10-30 10 Kenneth James - Reality check is as much for S'poreans as for those S'pore seeks to woo From, Kenneth James in Ixnidon WRAPPING up the London leg of his European technopreneurship tour, Deputy Prime Minister Tony Tan on Thursday introduced Singapore.com in a wide-ranging speech notable777 words
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347 1999-10-30 10 Vincent Cousin Singapore via Internet - MAXLBAG Vincent Cousin Singapore via Internet JUST a few words to react to Jaime Ee's Off the Cuff column "It's a cool world, and now we're part of it" (BT, Oct 22) regarding Singapore's identity. It appears that Western news presents Singapore as more347 words
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732 1999-10-30 10 Mark D Gold - Mark D Gold Aspartame Toxicity Information Center Concord, New Hampshire, USA I READ the letter from the Asian Food Information Centre related to the sweetener, aspartame, "Facts and findings on aspartame" (BT, Oct 18). I am familiar with the world research on aspartame toxicity732 words
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273 1999-10-30 10 Toh Han Shih - By' Toh Han Shih THE government will implement four types of initiatives to develop Singapore into a leader in info-communica-tions technology by 2010. Lim Swee Say, Minister of State for Communications and Information Technology, yesterday listed the four as industry-wide,273 words
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274 1999-10-30 10 Marissa Chew - By] Marissa Chew ANOTHER three sites in Toa Payoh and Dakota Crescent have been earmarked for redevelopment under the Selective En Bloc Redevelopment Scheme (Sers), involving the owners of 1,263 flats. The Housing and Development Board will house families in the two Toa274 words
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Page 10 Advertisements
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Advertisement36 1999-10-30 10 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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Advertisement675 1999-10-30 10 'Sj Detifhmce. DELIFRANCE ASIA LTD (Incorporated in the Republic of Singapore) Voluntary Cash Offer by Cafe Holdings Ltd The Board of Directors of Delifrance Asia Ltd (the "Company") wishes to announce that it has issued a circular to shareholders dated 29 October 1999 ("Circular") in relation to the voluntary cash675 words
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MALAYSIA news
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Article, Illustration533 1999-10-30 11 I KUALA LUMPUR Murad says ex-DPM used money to fond campaign, aid allies; some mentioned threatening to sue Reuters MALAYSIA'S jailed former finance minister, Anwar Ibrahim, and others accused of improprieties by a former central banker denied the accusations yesterday as the government launchedReuters - 533 words
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368 1999-10-30 11 KUALA LUMPUR It does not think it can meet Nov 5 deadline too AFX-Asia, Bloomberg TECHNOLOGY Resources Industries Bhd (TRI) said it had not redeemed any of its US$2OO million (*****.4 million) zero coupon bonds which were due for early redemption yesterday. InAFX-Asia,; Bloomberg - 368 words
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MARKET moves
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Article73 1999-10-30 11 SHARES of KFC Holdings jumped 14 sen to close at 4.88 Malaysian ringgit apiece yesterday after building material maker CI Holdings Bhd announced its plan to buy a 30.3 per cent stake in the fast-food operator for RM4SO million, or at RM7.90 per share.73 words
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74 1999-10-30 11 BERJAYA Group saw its loan stocks and warrants top the active list yesterday on their first trading day. Berjaya Group, the flagship of tycoon Vincent Tan, had issued one loan stock attached with four warrants for every two shares. Berjaya Group warrants rose 24.5 sen74 words
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56 1999-10-30 11 PLYWOOD and furniture parts maker Minply Holdings Bhd made a strong debut on the Kuala Lumpur Stock Exchange Second Board yesterday. The stock surged to a high of RM2.O before closing at RM1.58, giving Minply a 43 sen or 37 per cent premium over the56 words
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Article58 1999-10-30 11 AFX-Asia MALAYAN Banking Berhad said its unit, Mayban Finance Berhad, has entered into an agreement with Sime Bank Berhad to buy Sime Finance Berhad. The purchase price will be based on Sime Finance's adjusted net tangible assets as of June 30,1999. The shares in SimeAFX-Asia - 58 words
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60 1999-10-30 11 Ruth Wong - Compiled by! Ruth Wong MALAYAN Cement Bhd fell 7 sen, or 6 per cent, to RMI.IO yesterday after its UK-based parent, Blue Circle Industries pic, warned that the group's earnings in fiscal 2000 could drop about 18 per cent amid falling prices in Malaysia and60 words
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Page 11 Advertisements
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Advertisement590 1999-10-30 11 NOTICE IS HEREBY GIVEN that I.ONG CHEAW FERN of 16A Phillips Avenue, Singapore *****3, have applied for a Wholesale Liquor Shop Licence in respect of M/s King Alcohol Industries (S) Pte Ltd located at 16 Wan Lee Road, Jurong Industrial Estate, Singapore *****6, and that this application will be considered590 words
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Advertisement582 1999-10-30 11 DAVALE PTE LTD (Incorporated in the Republic of Singapore) CONDITIONAL CASH OFFERS FOR JACK CHIA-MPH LIMITED (Incorporated in the Republic of Singapore) NOTICE TO STOCKHOLDERS AND WARRANTHOLDERS The directors of Davale Re Ltd ("Davale" or the "Offeror") refer to the conditional cash offers ("Offers") by The Development Bank of Singapore582 words
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SOUTH east asia
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673 1999-10-30 12 Shoeb Kagda - Chief economics minister says this will promote greater transparency hYom Shoeb Kagda in Jakarta INDONESIA'S approach to dealing with its worst economic crisis in over three decades and its relationship with the international financial community in the future will take673 words
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Article, Illustration570 1999-10-30 12 AFP [JAKARTA] Indonesian President Abdurrahman Wahid yesterday witnessed the swearing in of his 35-member Cabinet, and dismissed criticism of its makeup saying there were no plans for a reshuffle during its five-year term. Mr Abdurrahman, who stressed the Cabinet formation had been aAFP - 570 words
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1024 1999-10-30 12 karim raslan - What's happening to the cream of Thailand's youth WRITER'SBMIBHI Gone is the Idealism of the preceding generation. Have they lost faith in the system? karim raslan Karim Raslan is a Kuala Lumpur-based lawyer and writer y USED to dream of being a politician. But my attitude has changed, especially after1,024 words
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145 1999-10-30 12 BANGKOK Bloomberg THAILAND'S central bank said it will give foreign companies bidding for two stateowned banks Bangkok Metropolitan Bank Pel and Siam City Bank Pel one more week to submit "clearer plans". An announcement of the winning bidders had been scheduledBloomberg - 145 words
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NOTE Book
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Article93 1999-10-30 12 Bloomberg [MANILA] The Philippine central bank yesterday cut the overnight borrowing rate for the first time in two months to help boost lending among banks. The closely watched overnight borrowing rate will fall to 8.75 per cent from 9 per cent, effective next Wednesday. Central bankBloomberg - 93 words
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79 1999-10-30 12 Bloomberg [MANILA] Jollibee Foods Corp said yesterday that third-quarter profit slipped 13 per cent from a year earlier, as expenses rose because of promotions to boost flagging sales at the Philippines' largest fast-food company. Jollibee said net income in the quarter endedBloomberg - 79 words
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64 1999-10-30 12 Bloomberg (JAKARTA] PT Pertamina, Indonesia's state oil and gas company, has cracked down on illegal sales of subsidised oil to foreign shipping companies, saving 5.2 billion rupiah (SSI 25 million) for the company over six months ending November. Pertamina found that domestic shipping agenciesBloomberg - 64 words
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66 1999-10-30 12 AFP [MANILA] Philippine Airlines (PAL), struggling to recover from near-bankruptcy, must brace itself to lose government protection and live with international competition, President Joseph Estrada said yesterday. But he also admitted Philippine aviation authorities were still engaged in "government-to-government talks" with Taiwan overAFP - 66 words
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Page 12 Advertisements
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Advertisement7 1999-10-30 12 L TODAY® i Lianhe laobao S psi7 words
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EAST asia
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558 1999-10-30 13 Quak Hiang Whai - Banks urged to review strategy; percentage of refinanced to new loans stands at 36% From< Quak Hiang Whai in Hongkong THE Hongkong Monetary Authority (HKMA) yesterday expressed concern over the banks' aggressive refinancing strategy in the housing loan market and told the558 words
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Article, Illustration59 1999-10-30 13 [NANNING, China] An old Miao woman touching the logo of a motor vehicle the first she has ever seen in the village of Shiban in Baise district in south China's Guangxi Zhuang Autonomous Region. Baise district, late leader Deng Xiaoping's revolutionary base, has achieved theXINHUA - 59 words
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Article527 1999-10-30 13 BEIJING Power station at the dam can't find buyers for the electricity it generates FT CHINA'S largest hydro-electric dam, built with the biggest project loan ever extended by the World Bank, is running at about half capacity and making a hefty loss, executives andFT - 527 words
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306 1999-10-30 13 Bloomberg [HONGKONG] Hongkong may raise fees for licences and other basic government services that have been frozen for the past two years to help balance the Budget for the 2000-2001 financial year, Financial Secretary Donald Tsang said. Fees for itemsBloomberg - 306 words
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SOUTH asia
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241 1999-10-30 13 LAHORE, Pakistan Reuters PAKISTAN'S new military rulers have asked ousted prime minister Nawaz Sharif to leave Pakistan and quit politics but he has refused, his wife said in remarks published yesterday. "We have been asked that we should leave the country and politics,"Reuters - 241 words
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Article, Illustration63 1999-10-30 13 [NEW DELHI] Women supporters of India's main opposition Congress Party shouting anti-Bharatiya Janata Party (BJP) government slogans while carrying Congress president Sonia Gandhi's poster during a demonstration near Parliament yesterday. The demonstrators were protesting the government's decision to name assassinated prime minister Rajiv Gandhi inAFP - 63 words
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Article172 1999-10-30 13 ISLAMABAD Reuters A WORLD Bank team is due in Pakistan on Monday for talks with the military-led government on a row with private power producers that has snarled crucial foreign loans and investment, investor sources said yesterday. They said the team, led by AlistairReuters - 172 words
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522 1999-10-30 13 BOMBAY One-point drop in reserve ratio expected to free 70b rupees for loans Bloomberg, Reuters INDIA'S central bank lowered cash reserve requirements for the country's banks in a move to cut interest rates and breathe life back into a falteringBloomberg,; Reuters - 522 words
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350 1999-10-30 13 BOMBAY Reuter INDIAN banks were unlikely to cut their interest rates immediately following the Reserve Bank of India's (RBI) move yesterday to boost liquidity, the chiefs of three nationalised banks said. "I do not see any need immediately to change interest rates. AfterReuter - 350 words
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WORLD news
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Article, Illustration685 1999-10-30 14 Anthony Rowley - Move to shore np govt's slipping popularity; Nikkei soars on promise, Dow gains From Anthony Rowley in Tokyo ANXIOUS to revive his government's slipping popularity ratings, Japanese Prime Minister Keizo Obuchi promised yesterday to bring about the "economic rebirth" of Japan throughAFP - 685 words
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Article, Illustration643 1999-10-30 14 BOCA RATON, Florida Bat he warns that productivity can't rise indefinitely NYT FEDERAL Reserve chairman Alan Greenspan said marketdriven rising interest rates are likely to keep the economy on a sustainable, non-in-flationary path, and that productivity gains in the United StatesNYT - 643 words
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313 1999-10-30 14 NEW YORK Reuters THE Federal Reserve may administer one more dose of monetary medicine on Nov 16, but that could be the last interest rate increase for a while, according to an article in the Nov 8 issueReuters - 313 words
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298 1999-10-30 14 LONDON Aims to manage US$ll by 2002; no decision on branding Reuters US investment bank Merrill Lynch is restructuring its asset management businesses to form a single global fund group with a target of doubling assets under management to US$l trillion (Ssl.7 trillion)Reuters - 298 words
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296 1999-10-30 14 NEWYORK NYT HERALDING an era in which computers, and especially computer displays, can blend into the fabric of everyday life, IBM researchers yesterday reported that they had developed flexible transistors that could be embedded in curved surfaces or even in thin,NYT - 296 words
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Article, Illustration481 1999-10-30 14 D Ravi Kanth - Bat it doesn't want talks to be part of Seattle agenda From D Ravi Kanth in Geneva THE United States moved a proposal for the first time in the World Trade Organisation (WTO) yesterday to discuss a new multilateral code on investment, aAFP - 481 words
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493 1999-10-30 15 LONDON Fewer banks are now active in the forex market dne to spate of mergers FT THE cost to companies of changing currencies has risen sharply this year, prompting complaints about the influence of an elite group of banks over theFT - 493 words
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332 1999-10-30 15 OSAKA Firm recovers from losses on Japan bank share investments Bloomberg MATSUSHITA Electric Industrial Co's first-half earnings more than tripled as the world's largest consumer electronics maker bounced back from losses on investments in Japanese bank shares last year. But performance at its mainBloomberg - 332 words
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WORLD Watch
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50 1999-10-30 15 Bloomberg [LONDON] British Sky Broadcasting Group pic, Europe's secondbiggest pay-television company, has offered nearly £1 billion (552.74 billion) to England's top soccer clubs to extend its exclusive right to broadcast live Premier League games for another three years, the Financial Times reported yesterday.—BloombergBloomberg - 50 words
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105 1999-10-30 15 Reuters [SEATTLE] Windows wizard Brad Silverberg's on-again, off-again relationship with his longtime employer Microsoft Corp is off for good, the software giant confirmed on Thursday. Mr Silverberg, a former senior vice-president who led development of Windows 95 and then helped turn the company's focus toReuters - 105 words
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83 1999-10-30 15 Reuters [CHANTILLY, Virginia] America Online Inc on Thursday said its board declared a two-for-one split of the company's shares, the seventh such split in seven years, answering a clamour by investors at its annual meeting earlier in the day. In a statement, the world'sReuters - 83 words
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70 1999-10-30 15 AFP [WELLINGTON] New Zealand's consumer price index (CPI) grew a less-than-expected 0.6 per cent in the three months to September compared with market forecasts of 0.7 per cent, Statistics New Zealand said yesterday. On an annual basis, the CPI fell 0.3 per cent butAFP - 70 words
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Article, Illustration63 1999-10-30 15 [WASHINGTON] Visitors admiring the works of renowned photographer Henri Cartier-Bresson on display at the Smithsonian's National Portrait Gallery here this week. The exhibition includes 70 portraits of the 20th century's leading writers, artists and public figures, including Jean-Paul Sartre, Martin Luther King Jr, Susan Sontag, Colette, Alexander ColderAFP - 63 words
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422 1999-10-30 15 ■TOKYO Moody's downgrades credit rating shares tumble by up to 9% Reuters TOSHIBA Corp yesterday announced a US$l billion (551.67 billion) special loss for 1999/2000 to settle a US lawsuit over its notebook computers, triggering a credit rating downgrade and a 9 per centReuters - 422 words
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360 1999-10-30 15 U WASHINGTON Many would rather look to gambling as a way to gain wealth FT IN spite of eight years of economic boom, half of American households have accumulated less than US$l,OOO (551,680) in net financial assets, according to a new studyFT - 360 words
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Page 15 Advertisements
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Advertisement835 1999-10-30 15 mi-mi WANT WANT HOLDINGS LTD (Incorporated in the Republic of Singapore) ANNOUNCEMENT WANT WANT HOLDINGS LTD (THE "COMPANY") ISSUE OF 58,867,405 WARRANTS ("WARRANTS") TO SUBSCRIBE FOR 58,867,405 NEW ORDINARY SHARES OF US$O.2O EACH IN THE CAPITAL OF THE COMPANY ON A RENOUNCEABLE PREFERENTIAL BASIS IN THE PROPORTION OF ONE (1)835 words
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FINANCE & commodities
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215 1999-10-30 16 Daphne Tay, Jardine Fleming - SBBSOLReports MSCI Singapore Index Daphne Tay, Jardine Fleming THE Singapore stock market closed sharply higher yesterday, powered by the magnificent gains on Wall Street following Federal Reserve chairman Alan Greenspan's remark that the US economy is likely to stay on a215 words
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190 1999-10-30 16 Charlie Kuo Refco Singapore - KS& Taiwan fatnros Charlie Kuo Refco Singapore THE Simex MSCI Taiwan Stock Index futures rose yesterday behind sharp overnight gains in the US market. The US economic reports showed strong growth with lame inflation, easing investors' concerns on interest rates and suggesting190 words
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293 1999-10-30 16 ENERGY REPORT Reuters [LONDON] Oil prices steadied as buyers returned to the market yesterday to take advantage of a 5 per cent slump set off by speculative fund sell-off on Thursday. Brent crude futures in London were trading 18 cents stronger at U5521.60 aReuters - 293 words
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Article352 1999-10-30 16 AFP, Reuters London THE yen rallied by nearly 2 per cent to one-month highs against the euro and by more than one per cent against the US dollar yesterday, amid growing investor enthusiasm for the Japanese currency, analysts said. Renewed confidence in the yen has come gradually, asAFP,; Reuters - 352 words
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Article, Illustration1209 1999-10-30 16 DfTERBAIfgCROSSRATBS Octj9 hi C$ Hwfc Ctq Ffr Pw HK$ ind»sItup >•» Yen Won tU >BWih Hh SS Band Sft MTj MK NwK USS Austria 0.9*4 6.178 0.602 3.948 1177 5.054 28.248 44.885 0.686 7.840 2.472 1262 ***** 26.889 1074 3.958 0.982 20.441 24.971 0293 0.644 CMi 1.055 5.639 0.646 42351,209 words
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Article1835 1999-10-30 16 *****1PUTPRES Oct 29 RU80CR (futures dosbq as at SJOpa) RSS 1 CONTRACTS ccnts/kg) Close Volume Open Mt HI* Low Sett (tonnes) Interest Nov 99 119.75 300 Ok 99 ***** 1200 Jan 00 125.25 100 Feb 00 127.75 100 RSS 3 CONTMCT (US c«ntVk<) VotoM OpM Month Ht«ik Low Sett (two)1,835 words
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STOCKS east asia
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Article, Illustration2745 1999-10-30 17 HONGKONG AFP W Hang Seng +49&07 HONGKONG shares surged 3.9 per cent yesterday to reclaim the psychological 13,000-point level following a rebound in US share prices, dealers said. Ricky Tam, research director at Delta Asia Securities, said the 2.2 per cent reboundAFP - 2,745 words
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Article, Illustration921 1999-10-30 17 AFP, Reuters P Shenzhen B Index 4fl SHENZHEN'S A and B shares ended down yesterday extending recent losses as official measures to boost the stock market were quickly offset by jitters over market expansion and corporate earnings prospects. The hard currency B Share Index fell 0.41 point, or 0.5AFP,; Reuters; Source: Credit Lyonnsis Securities(Asia) Ltd - 921 words
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Article346 1999-10-30 17 AFP HWPhfax *24J32 TAIWAN share prices closed 0.3 per cent higher yesterday on buying in technology stocks sparked by positive corporate results for the first nine months, dealers said. The Taiwan Stock Exchange Weighted Price Index soared 24.82 points to 7,706.67, on turnover of NT592.3 billion. "High-priced technology sharesAFP - 346 words
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Article1897 1999-10-30 17 TOKYO AFP QmkaM «a&37 SHARE prices in Tokyo jumped 3 per cent yesterday on the back of a stronger Wall Street and a weaker yen, brokers said. The key Nikkei Index of 225 selected issues on the Tokyo Stock* Exchange surged 528.37 points to close atAFP - 1,897 words
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Page 17 Advertisements
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Advertisement7 1999-10-30 17 the new The Business Times every Monday7 words
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STOCKS klse
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Article8005 1999-10-30 18 INDUSTRIALS Cmmmt nMi iw Lot Vei Day »H Cap Ntgfc law Ciw>my Sale -000 HUB Lew P/t tui 440 2S5 A,momoto 310 uncn 3 312 310 19.7 125.6 174 46 Angkasa 95 -0.5 24 97 95 140.1 404 220 Apollo Food Hlg 324 4 6 326 320 7.7 129.6 2948,005 words
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Article, Illustration390 1999-10-30 18 AFP P Composite Indai -7.33 MALAYSIAN share prices closed 0.9 per cent lower yesterday for no apparent reason as Malaysia unveiled a "people-friendly" 2000 Budget, dealers said. The Kuala Lumpur Stock Exchange Composite Index feU 7.33 points to finish at 742.87. The Second Board IndexAFP - 390 words
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Page 18 Advertisements
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Advertisement18 1999-10-30 18 Your weekly quid* to pubs and lounges fc: w every Friday in The Hew Paper Fastads nSSCSOS f18 words
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SES clob & regional stocks
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Article2632 1999-10-30 19 BONDS AWARRAMTS Oct 29 Last Mm UilOn Hi H Imm* Coot Car Cat! MM» ■0 ua Mat Mi ««r- COOO) M* f —f M WW gggg 1-1 104 K>3 3160 -Aeor ******1 US$ 41 uneh 144 413 403 403 413 311 J* "J 2 80 14 3)64 Acmi ******4 -2932,632 words
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Article, Illustration734 1999-10-30 19 AFP HSETMn +6-79 THAI shares rose 1.5 per cent in active trade yesterday supported by Wall Street's gains overnight and in line with firmer regional markets, dealers said. But the market failed to sustain gains above the 400 points mark as profittaking, mainly in finances, emerged, they said. TheAFP - 734 words
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Article257 1999-10-30 19 AFP flluh *9IM PHILIPPINE shares closed 3.4 per cent higher yesterday as investors snapped up blue chips, brokers said. The Philippine Stock Exchange Composite Index climbed 67.08 points to 2,036.05. A total of 1.5 billion shares worth 2.2 billion pesos changed hands. AFP Petit N» COm IMC MM 0.76AFP - 257 words
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Article, Illustration645 1999-10-30 19 AFP Q CvqxHt* Mb ♦15J4 INDONESIAN shares closed 2.8 per cent higher yesterday on the back of late foreign buying, dealers said. "I guess some foreign investors started to accumulate large stocks on news that Neiss will come next week," one dealer said, referring to the impending visit ofAFP - 645 words
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Article269 1999-10-30 19 AFP QWeUmgton +M 2 NEW Zealand shares ended 0.4 per cent higher yesterday in response to strong overnight gains on Wall Street. The NZSE-40 Capital Index was up 9.12 points to 2,085.13 on turnover of NZ$99 million. A broker described the local market as a pale imitation of theAFP - 269 words
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Article519 1999-10-30 19 AFP DUOrimum **.7 AUSTRALIAN share prices closed up one per cent yesterday as they took a strong lead from Wall Street, but they came off earlier highs. The Australian Stock Exchange's benchmark All Ordinaries Index ended up 29.7 points at 2,885.1. The All Industrials Index closed up 74.8 pointsAFP - 519 words
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Article265 1999-10-30 19 AFX-Asia Q Compost* Index +12J>6 THE Korea Stock Exchange Composite Index closed up 12.56 points at 833.51. Volume was 310 million shares worth 3.7 trillion won. -AFX-Asia Oct W *rKnsm St ml IS400 -400 Brun Ttcfl-— 20*5 45 Central Bank. 1*00 TO ClwM Conwn '2100 -600 Dm Gu BankAFX-Asia - 265 words
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Page 19 Advertisements
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Article7881 1999-10-30 20 MAIM BOARD Transaction date: Oct 29 Or Or M Wt 52-Wk Last Vat Bay LMt Owti Mv 0»v YM Nat Ca A«g High l— stwa cimm %m rooo> l— anyr saoar cw M t«J» MULTHNMftTVT 182 17.5 mb 1000 Aetna 50c 104 id *2 345 105 101 1037,881 words
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Page 20 Advertisements
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Advertisement56 1999-10-30 20 1 fcm iifrrmrfi 1 IPO. Shares. Bonds. Stocks. Annual Reports. mh 11 irr I Whatever you're offering, we help you reach out If I to 86.7% of all adults in Singapore daily. Ml I 11 1 j lhaMMM*- I J I I 1 The Straits Times The Business Times Lianhe56 words
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RUGBY world cup
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Article, Illustration778 1999-10-30 21 Shahiron Sahari - Final is shaping up to be a clash of giants from the southern hemisphere From Shahiron Sahari in Sydney THE challenge from the northern hordes has now been all but vanquished, and next weekend's final should see as widely expected before the tournament beganAFP - 778 words
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Page 21 Miscellaneous
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Miscellaneous1996 1999-10-30 21 CRYPTIC CROSSWORD ACROSS j PI i i 1 Make jests when offered a sleeping bag (3-4) 5 Cup the church presented to r 9 Verify that fraudster has joined the business (7) 10 Aerial delivered before worn- B2T I I I an returned (7) I I I I 1 I—L—1,996 words
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EXEC lifestyle
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Article, Illustration1040 1999-10-30 22 Parvathi Nayar - Cultural Medallion winner Chua Ek Kay sees his work as the continuing process of an ideology, shaped by both internal and external factors. Parvathl Nayar reports Parvathi Nayar Artist chua Ek Kay embarked on that much talked about, but seldom acted upon, "roadCHRIS LOH - 1,040 words
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Page 22 Advertisements
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Advertisement344 1999-10-30 22 Where to wine, dine and -Offering the lowest interest rate in town 290 4545 Select from our extensive a la carte buffet menu featuring 60 superb Sichuan and Cantonese gourmet delights. £22 (Adult) £15 (Child) for 4 to 5 persons £20 (Adult) £15 (Child) for 6 persons SC above For344 words
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Advertisement33 1999-10-30 22 Revolving Restaurant 11th floor A Festival ofWioes the Gobdc cfVfcnetD, Italy 2-14 November 1999 Reservations: *****58/88 ENETO, .j -X a/- 3—'- 111 /WW 333 Orchard Road. Sinrn *****7 Id: 737 4411 FwTT32 236133 words
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