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

To: Shane M who wrote (12446)	10/15/1998 12:15:00 AM
From: BZOOKA	Respond to of 13925

Singapore Equity Movers: Stocks Rise, Led by Property Shares Bloomberg News October 14, 1998, 6:32 p.m. PT Singapore, Oct. 15 (Bloomberg) -- Singapore stocks rose, led by real estate developers, as a cut in interest rates by two of the island state's biggest banks reduced debt repayments and paved the way for increased property sales. ''The market is fundamentally slightly positive, especially with the interest rates more stable,'' said Shingo Miyamoto, vice president at Nikko Securities (Singapore) Pte. The benchmark Straits Times Index rose 18.72 points, or 1.91 percent, to 1004.50. Overall gainers outnumbered losers 88 to 7, with 29 stocks unchanged. The following is a list of companies whose shares are moving on the Stock Exchange of Singapore. The stock symbol follows the company name. City Developments Ltd. (CIT SP), DBS Land Ltd. (DBSL SP): Property stocks may move after lower-than expected interest rate cuts by the city state's four biggest banks. Investors were hoping that deeper interest rate cuts would spur home buying. City Developments rose 22 cents to S$4.54. DBSL Land rose 4 cents to S$1.49. Creative Technology Ltd. (CREAF SP): The world's biggest maker of cards that enhance the quality of sound in computers said its new card, ''SoundBlaster Live !'', will boost the sound quality of over 50 games to be sold during the Christmas holiday season. The stock rose 30 cents to S$15.90. Development Bank of Singapore Ltd. (DBS SP), Oversea-Chinese Banking Corp. Ltd. (OCBC SP), Overseas Union Bank Ltd. (OUB SP): Banking stocks rose after Oversea-Chinese Banking and Overseas Union Bank cut their prime rates on optimism that it will encourage borrowing and forestall loan defaults. DBS's local shares, which only Singaporeans can own, rose 8 cents to S$4.70. Its foreign shares, which have no ownership restrictions, rose 5 cents to S$8.20. OCBC's foreign shares rose 15 cents to S$5.25. OUB's foreign shares rose 11 cents to S$2.85. Parkway Holdings Ltd. (PWAY SP): The healthcare company said 97 percent of its 70 million warrants were converted to shares at a price of S$1.70 a warrant on Monday. This was at a 27 percent discount to Monday's closing share price of S$2.33. Parkway raised S$128.6 million (U$79.3 million) from the exercise. The stock rose 4 cents to S$2.39. Van Der Horst Ltd. (VDH SP), Transmarco Ltd. (TRM SP), L & M Group Investments Ltd. (LNM SP): Stocks of companies with Indonesian shareholders may move on speculation that these shareholders may be forced to sell out for cash to repay their debts, triggering take-over offers. Van Der Horst rose 2 cents to 47 cents. Transmarco rose 20 cents to S$3.66. --Tan Hwee Ann and Linus Chua in the Singapore newsroom (65)438- More News: CREAF