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Technology Stocks : Creative Labs (CREAF) -- Ignore unavailable to you. Want to Upgrade?

To: Dennis G. who wrote (11864)	7/16/1998 4:11:00 PM
From: Power ranger	Read Replies (3) \| Respond to of 13925

No share buy back this year. I just received a report on the nett cash position of Singapore companies and it looks ugly!!! Other then a few (Creative is one of them), most of them are either highly gear or Cash POOR, If the govt. approved the buy-back now, companies will not have the $$$ to buy back their shares ( most shares have lost at least 50% of their value compared to 1 year ago. Just imagine how the market will react if buy-back is approve and we don't see any action from these companies??? I hope my reading is wrong. So, I think the buy back will be delay to a much further date. At present our hope are on the imminent release of SBL and their 4th Q result which I believe will be around 20 - 25 cents..This is base on their guidance of revenue down 10% and margin in the mid 20%. The last 100+ thousand were all buying @ 12 3/4 but the MM are happy to stand the bid and ask at 12 11/16 and 12 3/4. Well at least we close 12 3/4 for a half dollar gain. singing the internet blue - PR

To: Dennis G. who wrote (11864)	7/17/1998 6:32:00 AM
From: Savoirman	Read Replies (2) \| Respond to of 13925

As far as buybacks are concerned the government has not said anything new, so I assume the target is still early 1999. Don't worry this is not Japan where reform can take 100 years. There has just been a set of off-budget measures where the government cut business costs through some tax reductions but the market generally perceived this to be too little too late. But Singapore's argument is that there is little it can do internally if the whole region goes into recession. I think the government in conserving a few more measures up its sleeves, which it will use after a few more numbers come up bad. The banking sector reform is coming along nicely. DBS Bank, Singapore's largest and largely government-owned although it is publicly traded, has just hired Mr John Olds as CEO. Mr Olds was previously Managing Director at JP Morgan. If you know Singapore, you'll know this is radical stuff!!! A "gweilo" to head Singapore's largest bank, even caught the locals by surprise. Don't worry, around Feb next year, Creaf will be able to buy back its own shares.