assorted news

[mbeer@xxxxxxxxxxx]

Contents:
Euro RSCG going into Burma
National convention referedum
Maker of Lee Cooper jeans, sold.

 Copyright 1994 Times Business Publications
Business Times
December 2, 1994 SECTION: Advertising & Marketing;
Pg. 15 LENGTH: 734 words HEADLINE: Euro RSCG steps
up push into Asia BYLINE: Michelle Low BODY:
Paris-based agency to pour more than half of its
global investment into the region next year, and
plans to open five offices in China, reports
Michelle Low

    IF EURO RSCG has its way, the world will be
its oyster by the end of the decade, and the Asia
Pacific, its pearl.

   The Paris-based advertising agency is beefing
up its Asia-Pacific network and aims to raise its
profile by bagging more international and regional
business.

   While chairman and chief executive officer
Alain de Pouzilhac declines to give figures, more
than half of Euro RSCG's worldwide investment next
year will be poured into the Asia Pacific. 

   The area now accounts for just 3 per cent of
Euro RSCG's 4 billion francs (S$ 1.1 billion) of
billings, but the agency wants its existing and
new offices to double gross margins and bring in
7-8 per cent of total billings by the year 2000.

   Five offices will be opened in China, and the
agency is developing partnerships in India,
Vietnam, MYANMAR. Three or four offices will be
opened in Eastern Europe. And in South America,
offices will be opened in Argentina and Chile.

   Top these plans with a target to rank among the
top five agencies in every country that Euro RSCG
operates in -and you have one very grand design.

   "We don't have a choice," says Mr De Pouzilhac.
"If you look at the top 10 agencies worldwide,
seven are US companies, two are Japanese and only
one (Euro RSCG) is European. At this time, Europe
is not represented enough. We have an obligation
to acquire market share."

   Mr De Pouzilhac and Euro RSCG's senior
vice-president and area director, Pierre Lecosse,
were in town recently as part of a tour to brief
local offices on the expansion plan. The French
agency wants much more international and regional
business. "With the US agencies, their offices get
everything because of the weight of the US
clients," Mr De Pouzilhac says. "That's not the
case with us. If we count our clients with
international business, we don't even have five.
But in 1995, we want regional and international
business to bring in 50 per cent of income." This
is not to say that Euro RSCG lacks big clients.
About 18 months ago it clinched the Philips
Electronics account for Europe in a three-way
contest with long-time incumbent Ogilvy & Mather
and Saatchi & Saatchi. This year it acquired the
Philips lighting business.

   Today, the Philips business brings in one
billion francs -one quarter of total billings. And
from Dec 1, Euro RSCG takes over all of Philips
consumer electronics business.

   Despite the Singapore outfit, Euro RSCG Ball
Partnership, losing top staff and going through an
upheaval after a restructure, "we haven't lost any
business", says Ball's regional director Eugene
Seow.

   Ball's new business includes the Compaq and
Intel accounts for Asia as well as Tiger Balm and
Prudential. Billings this year will top $ 40
million and will reach "at least $ 45 million"
next year.

   All this points to Euro RSCG going full steam
ahead. Indeed, it prides itself as an agency with
attitude. "We have to learn the consumer habits of
the locals. We don't have a choice," says Mr De
Pouzilhac. GRAPHIC: Mr De Pouzilhac (left) and Mr
Lecosse: in town recently as part of a tour to
brief local offices on the expansion plan. -Photo
by Arthur Lee Japan Economic Newswire
DECEMBER 2, 1994, FRIDAY LENGTH: 259 words
HEADLINE: Myanmar's junta plans referendum on
constitution DATELINE: YANGON, Dec. 2 Kyodo BODY:
Myanmar's new constitution will be adopted by a
referendum, and general elections will be held in
accordance with the new charter, a member of the
ruling military junta has told a Japanese business
delegation.

   National Planning and Economic Development
Minister Brig. Gen. David Abel, a member of the
State Law and Order Restoration Council (SLORC),
told this to the 24-member group of Japanese
business leaders in Yangon on Thursday, sources
close to the group said. 

   A national convention of nearly 700 delegates
is meeting in Yangon to draw up guidelines for the
state constitution. The convention is currently
dealing with chapters on the legislature,
judiciary and administration, Abel reportedly
said.

   The constitution will be written based on the
guidelines to be adopted by the ongoing
convention. The draft constitution will then be
adopted by a referendum, and the election will be
held under the new constitution for power transfer
to the elected government, according to the
program.

   Abel told the Japanese delegation, '...We
cannot say for certain how long the delegates will
take to write the constitution. But the remaining
chapters are less important and can be dealt with
much quicker.' 

Copyright 1994 Extel Financial Limited Regulatory
News Service

    December 2, 1994, Friday
SECTION: Company News
LENGTH: 7616 words
HEADLINE: Vivat Hldgs PLC - Unconditional Cash
Offers
BODY: CHIEFCO HOLDINGS PLC ("Chiefco")
UNCONDITIONAL CASH OFFERS for VIVAT HOLDINGS PLC
("Vivat" or the "Group") HIGHLIGHTS The Boards of
Chiefco and Vivat announce that NatWest Markets,
on behalf of Chiefco, is to make unconditional
cash offers for the entire issued share capital of
Vivat not already owned by Chiefco. Chiefco is a
newly incorporated company owned by NatWest
Ventures Limited, USI Holdings Limited, Mr Hedi
Djilani and Phoenix Fund Managers Limited (on
behalf of funds under its management). Certain
members of the Vivat Board will have a financial
interest in Chiefco by reason of an incentive
scheme. Vivat, through its subsidiary companies,
is involved in the manufacture of jeans and casual
wear principally under the "Lee Cooper" brand name
and their distribution in the United Kingdom,
France, Belgium, Austria, Switzerland, Ireland and
Spain. The Vivat Group also licenses the
manufacture and marketing of "Lee Cooper" goods to
30 licensees overseas who sell into more than 50
countries worldwide. Key points * 65p in cash for
each ordinary share (which represents a premium of
71 per cent. over the closing middle-market price
of 38p on 1 December 1994). In the last three
years, ordinary shares have traded within the
range of 23p to 45p per share * 100p in cash for
each preference share (which represents a premium
of 122 per cent. over the closing middle-market
price of 45p per share on 30 November 1994) * Loan
note alternative of #1.00 in nominal value of
variable coupon unsecured loan notes for every
#1.00 of cash consideration * Chiefco and persons
acting in concert with it hold or are interested
in, or have received irrevocable undertakings to
accept the offer for Vivat ordinary shares in
respect of, 69.0 per cent. of Vivat's current
issued ordinary share capital * For the year
ending 31 December 1994, forecast profit before
taxation of Vivat will be in the order of #2.3
million (#4.2 million excluding exceptional items)
and forecast earnings per share will be in the
order of 2.8p (5.7p excluding exceptional items) *
In the absence of any independent directors,
Vivat's financial advisers, Samuel Montagu & Co.
Limited, based on factors referred to in the
attached announcement, has advised the Vivat Board
that the Offers are fair and reasonable and that
Vivat shareholders should, in the absence of a
higher offer, accept the Offers Commenting on the
background to and reasons for the Offers,
Christopher Burnett, Chairman of Vivat, said: "The
unconditional cash offers, representing 71 and 122
per cent. premia to the latest closing
middle-market prices of the ordinary and
preference shares respectively, provide an
opportunity for shareholders to realise value for
their shares. "The lack of liquidity in Vivat
shares, with fifteen shareholders holding over 90
per cent. of the Company's ordinary shares, has
significantly eroded the benefits to the Company
of maintaining a listing." nquiries: NatWest
Ventures Limited Tel: 071 375 5000 William Jackson
NatWest Markets Corporate Finance Limited Tel: 071
375 5000 Patrick Wilson Tom Bayne Vivat Holdings
PLC Until 3.00pm Tel: 071 404 5959 Christopher
Burnett, Chairman Thereafter Tel: 081 203 7095
John Wall, Finance Director Samuel Montagu & Co.
Limited Tel: 071 260 9000 Sir Laurie Magnus Neil
Goldie-Scot Brunswick Public Relations Limited


Take Care,
Michael Beer
mbeer@xxxxxxxxxxx