The Business Times, 14 March 1987

Total Pages: 16
1 16 The Business Times
  • 12 1 BUSINESS TIMES M.C. (P) No. 112/12/86 Weekend Edition, March 14-15,1867 75 CENTS
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  • 203 1 EidMnQi rates THE SINGAPORE DOLLAR finished higher at 2.1475/85 (2.1485/95) against the US currency in quiet trading on the foreign exchange market yesterday. Against M$, it closed lower at 84.81/88 (84.77/82). It rose against but eased against the DM and the Swiss franc. US$t 153.30/40 yen, 1.8500/10
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  • 51 1 ONE OF THE MOST famous English composers of the 20th century, the late Ralph Vaughan Williams, first showed an interest in music when he was only six. His talent flourished and in the course of subsequent years, he wrote operas, choral works, symphonies the list goes
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  • 667 1  -  Six modes of disposal identifed By FOO CHOY PENG Chief Reporter THE DIVESTMENT committee has named 41 government-linked companies which should be privatised, and it recommends that a serious study be made of privatising four statutory boards. In its report, released yesterday, the committee
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  • 574 1  -  f mmsm Vjg BfiViMffiim By ZHOU MEI Economics Correspondent THE LACK OF dynamism in Singapore's private sector could well be related to the size of the public sector. By last year, the public sector had grown to as much as 46 per cent
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  • 286 1 THE SINGAPORE stock market went through a severe correction yesterday as many investors moved to take profits, especially in blue chips which had shot up during the recent upsurge. Share prices ended sharply lower even though light bargainhunting helped to prop up selective stocks towards
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  • 308 1 AN OLD HAND in the newspaper business once said all we journalists produce is a packet of peanuts because that's what the newspaper becomes before the end of the day. Well, BT must be an exception. For there is someone out there who wants
    308 words
  • Page 1 Advertisements
    • 213 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM 8m Pag* 8 INSIDE OUR VIEW SPOUSES WHO LAUGH TOGETHER stay together, says a psychological study. This might not be a complete guide to the successful marriage, but it highlights the importance of laughter In keeping dose people together. The relationship between marriage and
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    • 5 1 Mora reports on Ptgc 2 _+}<=)}')":_~}:|;`.@/;<(~}`)^)\
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    • 261 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC What's a nlcs guy lika you... 9 The memories came flooding back Page Some health books worth digesting Page 10 Guess who's taking to the catwalk nowadays Page 10 TV programmes for today and tomorrow Page 10 Ml ti WMCfe Walking in the rain and
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  • HOME NEWS
    • 452 2  -  By JEFFREY TSANG ALL DOCUMENTATION for import and export will go on-line by the end of next year, a move that could result in savings of more than $800 million a year in paperwork. The computerised system, which will be called Trade Net, is
      452 words
    • 902 2 AT CONVENTIONAL WHARVES VmmI Barth Arrival Departure KEPPEL WHARVES Ananas K19 alongside 14.03/0600 Auby K25E olongside 14.03/0600 Kota Sejati K30 alongside 14.03/0600 Pac Tiger K20 alongside 14.03/1500 Queen of Heart K17 alongside 15.03/2000 Saudi Tabu It K09 alongside 14.03/0700 Straits Hope K24E alongside 15.03/0600 Tamaitai Sam K15
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    • 364 2  -  By MARTIN SOONG HAMBURGER HEAVEN, that is what Hardees's chief executive Jack Laughery wants to establish on earth. Locally, franchise holder Mulpha Marketing plans to open seven new Hardees outlets over the next two years, to spread the good news that man can
      364 words
    • 174 2 MORE EXPERTS from Japan will help local companies develop and implement flexible wage systems in the final phase of a $40 million bilateral productivity' development programme. Speaking at the signing cere-" mony of the fifth workplan of the Productivity Development Project*
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  • YESTERDAY IN PARLIAMENT
    • 294 2 A LOT MORE COMPANIES have been taking part in overseas trade fairs over the last two years. Sales and potential orders worth more than $500 million were secured last year at these trade shows. On-the-spot sales secured by Singapore companies more than
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    • 193 2 SINGAPORE sailed past Rotterdam last year to become the world's busiest port. Last year, total tonnage of ships that called at Singapore rose by 23 per cent to 324.6 million gross registered tonnes. Cargo handled was 121 million tonnes, up 14 per cent
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    • 337 2 WHEN ECONOMIC growth is restored and the Central Provident Fund rate raised eventually, both workers and employers should once again contribute at similar rates. Mr Lim Boon Heng (Kebun Baru) said: "Whatever the eventual figure, the principle ought to be that the
      337 words
    • 403 2 INTANGIBLES like the kind of care a couple can give to their children, rather than mere fiscal incentives, is what would ultimately decide whether parents would have more than two children. The assurance of having sufficient child care centres
      403 words
    • 128 2 A DECISION will be made by September on whether the Housing and Development Board will give up the management of industrial estates and concentrate on public housing. The rationalisation of the HDB's role and functions is under study, said National Development Minister S Dhanabalan, in
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    • In brief...
      • 65 2 would not be exempt from CPF contributions, said Labour Minister Lee Yocfc Suan. To do so would be tantamount to cutting workers' wages. But, asked Mr Chiam See Tong (Potong Pasir), were not high wage costs the bane of the economy? This issue had been addressed, replied the
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      • 57 2 half of 1986, there were 3,916 companies that were habitually late by three months or more in paying their employees CPF contributions. These companies owed a total of $31 million, of which $23 million was recovered through CPF action. The number of companies under receivership last year
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      • 56 2 of the Property Market Consultative Committee have been adopted since June last year. A Tourism Product Development Plan has been drawn up; property data is now better presented and more accessible; the government has promised not to lead the market in setting prices and rentals; and alternative uses
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      • 43 2 to sell off exist- ing HUDC flats quickly without disrupting the market are being studied. At January 31, there were 1,099 unsold HUDC flats. But HDB has stopped building new HUDC flats, and intends to sell all the existing stock.
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      • 50 2 at East Coast Park and Changi Beach earmarked for recreation has been developed 206 hectares at East Coast Park and 12 hectares at Changi Beach. Work on improving the facilities in the two areas will begin in August and is expected to be completed by March next year.
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      • 39 2 of the MRT to Chan- gi Airport will not be viable even with the construction of the second passenger terminal. But plans will be reviewed when Changi and the areas surrounding the airport are further developed.
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      • 69 2 government hospitals are still on the drawing board. But services will remain affordable even after the restructuring. As long as Singaporeans expect higher standards of medical services and the latest medical technology, it would mean higher costs and higher subsidies from the government, said acting Health Minister
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      • 57 2 the Gurkhas are still in Singapore. This is because they are resilient, disciplined, utterly loyal and fearless. As part of Singapore's internal security enforcement team, they are neutral and impartial implementators of the law. Their presence has in no way affected the marale of the Police Force,
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    • 157 2 SINGAPORE would be spending more on defence in the new financial year to secure peace, V said Mr Phua Bah Lee. Senior Parliamentary Secretary in the.-C Defence Ministry, yesterday. The country was "trying to secure peace so that we can continue to build up
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  • Page 2 Advertisements
    • 166 2 aM Golden Sichuan ft jft c Imppnal Banquet The first Sichuan restaurant in Singapore, the Golden Phoenix has 17 years of experience in finest Sichuan cuisines and matched only by its gracious cordiality. Discover our specialities like the Smoked Duck, the Chilli Prawns, the Fish Tail and more. For exquisite
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  • OVERSEAS
    • 426 3 AP FOREIGN electronics executives who knock on Japan's door have begun to hear an unfamiliar message some markets are opening and customers are buying, industry officials say. "The word is getting around that the electronic market here is huge," said John Stern,
      AP  -  426 words
    • 206 3 AFP A TRIPLE offensive has begun in Washington to force Japan to stick to a semiconductor agreement, buy US supercomputers and allow US companies to compete for airport construction tenders. Commerce Secretary Malcolm Baldrige has warned of a "level of anti-Japanese feelings (in Congress) that
      AFP  -  206 words
    • 868 3 ARRIVALS Operator 06fVIC6 number Local timo From MAS OA UA SU CAL SJA sv MAS SIA cv KAL MAS MAS AC CPA RBA k GU SIA SIA THAI SIA MAS G4A SJA SIA GU SIA SV SIA GU SIA SIA SIA SIA THAI KIM SU THAI CPA
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    • 248 3 FT SOVIET STATISTICS showing an increase in the economic growth rate in the last two years dramatically overstate the improvement in the performance of the economy since Mr Mikhail Gorbachev became leader, according to US consultants. The official Soviet annual growth rate in the national
      FT  -  248 words
    • 384 3 UPI PRIME MINISTER Margaret Thatcher, in her meeting with Thai counterpart Prem Tinsulanonda, has promised to raise Thailand's concern over Vietnamese troops in Cambodia when she visits the Soviet Union later this month, according to a British source. Prem, in the midst
      UPI  -  384 words
    • 283 3 Reuter SAUDI ARABIAN oil output has fallen to its lowest level in more than a year, giving fresh evidence of the kingdom's determination to keep oil prices at US$lB a barrel, as agreed by Opec last December, oil industry sources said. They said Saudi output
      Reuter  -  283 words
    • 470 3 Bernama DATUK SERI Dr Mahathir Mohamad said yesterday that the survival and prosperity of Asean in the face of deteriorating international economic conditions depended very much on the willingnees of member countries to cooperate beyond current individual economic considerations. He said Asean members
      Bernama  -  470 words
    • 60 3 Reuter THE DIRECTOR of the Office of Management and Budget, Mr James Miller, said the Reagan Administration had no intention of raising taxes in order to reduce the federal budget deficit. "There will be no tax increases," he said three times before a management briefing luncheon of
      Reuter  -  60 words
    • 413 3 FT A SWEEPING free trade agreement between the US and Canada appears to be within reach as a new mood of optimism moves over the 10-month-old negotiations between the world's two biggest trading partners. Canada's International
      FT  -  413 words
    • 374 3 AP DECLARING it is time to stop providing economic benefits "to people who are kicking us in the teeth", outgoing Navy Secretary John F Lehman has urged the removal from New Zealand of a US support-base for Antarctic operations. Mr Lehman, in what
      AP  -  374 words
  • Page 3 Advertisements
    • 54 3 "1 X /\ll I A T The business person's choice. IJ l|% /I /\y every Tuesday. Saturday and I Al VI \l I I Sunday. Leaving Changi Airport at I -J* jLL 22:05 hours and arriving Bombay at 00:30 hours. Call your Travel Agent or Air Canada at *****55. Effective
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    • 117 3 V- 4 r 1 THE CRICKETER SPORTING SPECIAL The Yicketcr Indish Pub is now ottering a sporting luncheon special ol'whole Roasted Sirloin ol Beet on the Wagon, with Salad, ountrx Bread, Cheese Board, and I resh I ruits tor Sl4 f 4,12 noon to 2 pin (Mon I ri). I
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  • WORLD BACKGROUND
    • 532 4 Friction there was but major crisis none AFP POWER-SHARING, or "cohabitation", between France's Socialist President Francois Mitterrand and Conservative Premier Jacques Chirac has survived its first year without a major crisis, although it has been far from friction-free. An uneasy cohabitation between two diametrically opposed
      AFP  -  532 words
    • 696 4  -  By FLORA LEWIS NYT SOMETHING is beginning to stir among ruling Whites in South Africa. It is just a crack in the oppressive structure, but it matters because time is the critical dimension. Change will come, the question is only
      NYT  -  696 words
    • 535 4 UPI THE HONGKONG government's attempts last year to clean up a package of draconian press laws before the Colony is returned to China in 1997 have ended up drawing international allegations that it is trying to muzzle free speech. The reaction to a revised package
      UPI  -  535 words
  • RAW MATERIALS
    • 132 4 MALAYSIAN crude palm oil prices closed slightly higher yesterday on light covering interest However, trsding was very quiet and cautious. March deliveries in the south region rose Mss to M 5766 per tonne. The refined palm oil market was also quiet with May RBD palm olein traded unchanged
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    • 95 4 OIL PRODUCTS THE EAST ASIAN petroleum products spot market was remarkably busy for a Friday with several trades reported for fuel oil. gasoil and naphtha. Overall prices were slightly firmer with levels underpinned by demand from traders and Singapore refiners. Closing prices for crude (FOB origin) US$/barrel Change Dubai (May)
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    • 131 4 Chinese Produce Exchange Salter*' noon doling prl too* on Mar 13 (SS/100 kg). Coconut oil Mk FOt 88.00 Otd drum FOB 98.00 Now drum FOB 102.00 Copra Mixed (loo**) 50 Milan Pepper FOt NLW 1225.00 Sarawak WAfct TO* faq NtW 1210.00 Sarawak ydol Mack POt NLW 957JO Swo»di
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    • 102 4 THE PRICE OF TIN on the Kuala Lumpur tin market closed four cents lower at M 516.77 per kilo yesterday on further selling. Heavy disposals at the start of the market pushed the level down from an unchanged opening while an easier European market was
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    • 66 4 Bangkok Broken Rice (US$/tonm, FOB) A-l Super A-1 Sp*dcri 143 140 unq White Rice C-l SfMdaf 100% 1st dais 255 C-) Ord unq 100% 2nd dan 225 Loonzain Rice 100% lit grade 100% 3rd don 220 unq 5% 210 100% 2nd groda 219 unq 10% 205 100% 3rd grad*
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    • 143 4 SOYBEAN FUTURES in Chicago closed mostly higher on Thursday, ending unchanged to 4-3/4 US cents a bushel higher. All contracts were higher except spot March, which closed unchanged at US$4.BB. New crop contracts were supported by talk that acreage would be lower than previously expected. ADM and Stotler bought
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    • 192 4 WHEAT FUTURES in Chicago retreated late on Thursday and closed lower, falling 3-3/4 US cents to 1-1/2 cents a bushel, with spot March leading the decline and closing at U552.93-3/4 a bushel. Traders said that stoploss selling weighed on prices after they failed to hold narrowly mixed midsession levels
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    • 313 4 SINGAPORE The market closed slightly higher with April 1 RSS buyers quoted at 192.50 cents/kilo, up 0.50 cent from Thursday. The morning session ended steady in thin trading on some speculative buying after a slightly lower opening, dealers said. Prices improved slightly in thin afternoon trading or\ some dealer
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    • 288 4 RAS prices kite onta/kg, FOB In ball NOON CLOSE •uyori e—n janan Iwytn c-n janan In* 1 RSS Prompt 194.00 195.00N 194^5 *****N In* 1 RSS April 87 191.75 192.25 192 JO 193.00 fa* 1 RSS May 189.25 189.75 190.00 190JO tor 2 RSS Of 180-50 182
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    • 86 4 (canti/kg, 1-ton poMati) APRH. 87 MAY 87 (currant month) (forward month) NOON NOON RAS lv)ftn ;,n iri Bvyan 5 r SSt 20 166 JO 167 JON 166.00 167.00N SSI 50 165 JO 166 JON 165.00 166.OON M-ldl: 1 SMI cv 248.00 250.00N 249.00 251.OON SMI L 247.50
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    • 842 4 COFFEE Robusta coffee futures ended a fairly quiet and featureless Thursday with losses of £20 to £37 a tonne. May last traded at £1,320 a tonne, down £20 on Wednesday night but above the day's low of £1,305. Early losses exceeded expectations based on Wednesday night's New York
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  • Page 4 Miscellaneous
    • 25 4 Doonesbury it ii'. mte; ft r THE ADS NO* RUNNING ON 40 STATIONS. rrSAU&WA Bt6HTT Bi TUB MARKETWr»~*±PlAC£,eSP6aAWf ANDTHE RESTLESS. Wi mwt :-v. f j
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  • BANKING AND FINANCE
    • 193 5 Indicates Km average of Km prim* tending rates of 12 major banks in Singapore Interbank market rates (olter/bid) on March 13 us$ DM SWFC Yon 7 4mr* 6 3/1* 3/1* n i/a ii 3 7/0 3/4 1 3/4 4 3/1* 1/1* 1 M* 0/1* 7/1* 10 3/0
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    • 107 5 THE OVERNIGHT rate on the Singapore interbank market closed point higher at 2 per cent yesterday. The term rates rose 1/16 point across the board. S$ Interbank rates at 7pm yesterday: Ohm M Owrial* 2 I 3/4 Ihmm* 3 3/t 3 1/4 3-m* 3 3/t 3 1/4 3-aaaMh
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    • 937 5 r. SINGAPORE: ..The US dollar yesterday closed mixed against major currencies after a day of thin trading. Dealers said the dollar fluctuated narrowly in the morning and early afternoon but showed a weaker tendency in late trading especially against major European currencies ex- Cept sterling on some selling
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    • 225 5 Interbank rates at 3pm yesterday: ■M Ohr ctom partly Local dollars to on* unit of foreign currency: US dollar 2.1475 2.1485 2.8196 -23.84 Sfrfcg pound 3.4048 3.4085 7.3469 -5346 AmliuBun dolt or 1.4613 1.4642 3.4286 -57.38 NZ dollar 1.2026 1.2074 3.4286 -64.92 Cnmuflrui J-M-VvCVHsatan QO<H 1.6281 1.6301 3.4206
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    • 218 5 HONGKONG: Gold closed above its New York finish, supported by light physical buying, dealers said. Bullion finished at U*****.50/US$4lO.OO per ounce after trading in a narrow range throughout the day and against its New York close of U*****.30/80. On the local market, gold ended at HK53,807 per tael,
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    • 44 5 RESULTS OF TENDER held yesterday for 91-day bills to be issued from Mar 16 to 20: Offered: $200,000,000 Applied for $729,300,000 Allotted: $200,000,000 Accepted bide: $99.51 and nearly 61 per cent. Average rate of diecount on allotment 1.905 per cent per annum.
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    • 562 5 JUNE Eurodollar opened marginally unchanged at 93.53 as US retail sales failed to provide clear direction to the market. It traded between 93.54 and 93.52 in quiet trading. Squaring activities during Liffe session saw prices slipping off with the June contract closing two ticks lower at the low of
      562 words
    • 591 5 Strong evidence from data Reuter US BANK RESERVE, monetary and discount window borrowings data released by the Federal Reserve on Thursday clearly indicated that policy was "on hold" and might not be changed for weeks or even months, economists said. "The Fed is
      Reuter  -  591 words
    • 130 5 FT JAPAN is prepared to work with Britain and the (JS on proposals to harmonise rules on capital adequacy for banks. Tayoo Gyohten, Japanese vice-minister of finance for international affairs, said. At the same time, Mr Gyohten told a London banking conference
      FT  -  130 words
    • 97 5 Reuter JAPAN'S Finance Minister Kiichi Miyazawa said he thinks exchange rates will remain stable due to the currency accord reached in Paris last month by six major industrialised nations but he did not say for how long. The dollar has hovered around 153
      Reuter  -  97 words
    • 264 5 Asian market ASIAN DOLLAR deposit rates yesterday closed little changed from the opening levels after quiet trading. Dealers said most operators were sidelined due to the absence of fresh factors with the market awaiting yesterday's release of US February producer price index and industrial production data for clues on the
      264 words
    • 361 5 Reuter A MEMBER of the board which regulates the US farm credit system has predicted the troubled farm lender may lose about US$9OO million in the first half of 1987, hastening the need for a federal rescue this year. Speaking to the
      Reuter  -  361 words
    • 340 5 Bernama ES THE NET foreign reserve holdings of Bank Negara declined by M 5252 million in the third quarter last year to M 513.8 billion. The decline came after five consecutive quarters of increases, the Malaysian central bank
      Bernama ES  -  340 words
  • Page 5 Advertisements
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      225 words

  • INTERNATIONAL STOCKS
    • 293 6 UPI A FORMER vice-president at Paine Webber Inc. who for four years was its high-est-paid broker until he resigned last month, was indicted by a Federal Grand Jury on Thursday in a US$7OO,OOO money laundering scheme. Gary Donald Eder conspired with other unidentified
      UPI  -  293 words
    • 84 6 AFP THE VOLKSWAGEN foreign exchange scandal, which may have cost the world's fourth largest car group some 460 million deutschemarks (US$26O million), has revealed just how dependent major multinational companies have become on world currency transactions, financial analysts in Wolfsburg, West Germany, said. West German criminal investigators
      AFP  -  84 words
    • 83 6 Reuter BRITISH Telecommunications PLC's profit growth prospects for the coming years would be reduced by increasing competition and continued costs for replacing old telephone systems, deputy chairman Graeme Odgers said. Speaking at a news conference on the third quarter results, released on Thursday, he said the company
      Reuter  -  83 words
    • 409 6 Reuter WALL STREET made a mixed showing on Thursday with blue chips ending lower despite a late rally attempt. Analysts said overall the session was not impressive. Fear of a downward tug from triple expirations of index futures and options next week remained in
      Reuter  -  409 words
    • 126 6 1——— MAR 12 CI Ineo Int Prow Ptpa 20% 46% 1% lu Intl 22% Karr Addison 21% Bank Nova Scotia. Bank Of Montreal.. 19% 33% Loblaw Co McMII Btdl Motoon A 19% 80% 25% 6 Bp Raaourcaa 42% 1% Moors Corp Noranda In 30% 31 1% Campbl Late 32%
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    • 184 6 MAN 11 RAND Truat 8k. Un Siaat Woottru 150 71 -6 -4 MM A Alpha ■TRIALS 1525 unch MM Aotrcofn AM! Angvaal *****6 -1000 75 100 iSST* 500 unch Diyvvuf... BoiMi 7400 Chartar 1775 •6 C 0 Smith 9610 10 5 Cona OoW 4060 unch CNA Cona Mureh 1100
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    • 572 6 AAlumin 17% l +x 43V Altoa Intf 241 AHted Ski 47 V Am Brand* Inc. Am Can Co 4a ....to I -IX uncti an AmExpraaa. Am Homa Prod 7W 9iy I -fix Am Motor* Cp Amax Inc. 4* 19* X k +x Amarada Haaa. 30 Amoco Corp 76)1
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    • 730 6 Amsterdam MAN IS U ABN 507 00 2 90 60 0 5 Ahotd 10t. 70 -4-02 Akzo Mranta 142.90 0 1 AMEV Amro Bank... Am 8lad. Barkal MOO 90 90 127 90 17.90 0.6 0.0 0.2 BOLS 196 00 3.7 BoraumiJ Ouahrman Ta Catva 147.90 ■aroda.40 740 -05
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  • Page 6 Advertisements
    • 139 6 ma eoterfala JP/ Happy Hour at the Treetops Bar Barons Tavern e> 3 L If r m <*/ fff W Where you can enjoy a 50% discount on all beverages from spm to Bpm at the Ibeetops Bar A spm to 7pm at the Baron's Hrvern daily. Offer is not
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    • 146 6 It s the NEU FACES.. Fresh from their European tour. Jhr Ni l) f AC KS Veteran <«nd versatile musitians Rock n Roll lop JO New Wave excellently performed tor gr«nid entertainment Nightk except Sundays At the Alcove I ounge where the beer cheapest among hotel lounges !(V cm cove
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    • 111 6 ALL YOU WANT V fe a #> P A k N Jr v 2 *1, > pr' person Lunch: 11 am to 2.30 :8 am to 2.30 K 181. Kitchener Road. Singapore 0820. Tel: *****22 Just some of the reasons why you should try the Royal Spanish Buffet Lunch March
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    • 132 6 -}$'=])'&/.).;];]!;(\'"):}]>-{$ No one could expect a stomach to survive the stretch between dinner and breakfast The minute you feel the rumbles, head for shelter here. We have porridge potpourri. Hot and j B steaming buffet to get you through the night for only $7.50. 1 (All prices subject to 10*
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  • mmi rnmrn
    • 360 7 HONGKONG: Speculation over an imminent rise in local interest rates sparked a late round of selling yesterday that sent share prices to a sharply lower close. The Hang Seng Index ended the day 28.97 lower at 2,721.17, the Hong Kong Index was down 17.78 to 1,744.75 but turnover was
      360 words
    • 205 7 MAR 19 NT 1 2 53 0.07 Kuochan Dev Lm Chang Yuan .2910 30 50 0 3 -06 36 00 -0.2 1990 -0.2 43 40 Nan Ya Plas 36.20 -0.3 61 SO 0.5 Qajk!||A 30 30 0.9 Chang Loong Chia Main Camant. .31.50 .31.70 14.10 0.1 unch •0.06 Pacific
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    • 268 7 MAR IS Aiinomoto YEN 3600 4 b -50 Mitsub Elac Mitsub Estate 574 2760 -10 Altai 452 3 Amada 779 -7 Aaahi Cham 885 10 Aaahi Glaaa Bank Of Tokyo. 1600 1380 200 unch Mitsui Smelting 333 4 31 +10 Bridgestone 730 13 Canon 900 -9 Murata Mtg 50
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    • 82 7 MAR IS PCSOt MirttMl o ooe Orisntal B 0 027 0001 Anglo Phil Apsx Mining B Atlas Con. 0 0 0625 ...20 0 0036 unch Phil Overseas Phils* B PicopB PLOT 0.044 030 286 0 003 unch 2.5 Baguio Gold Basic Pstrotoum 0.013 0001 San Migust B 120 0
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    • 552 7 SYDNEY: Australian share markets broke out of a four day sell-off yesterday as investor confidence returned, prompting bargain hunting across a broad range of stocks, brokers said. Investors overcame early hesitancy as solid support emerged in afternoon trading for miners, gold stocks and selected blue chip industrials. At the
      552 words
    • 110 7 MAR IS Chat l Sugar Daalim lnd._ WON 2670 see 960 ♦20 50 >35 Kal Kangwon Ind Kia Motor Koton Ind 1980 ***** 1775 3815 2200 •11 -7800 -4 5 40 Daewoo Hiivy 1290 >10 Lucky Ltd 1525 36 Daiahin Sacurrtta*... 4000 ***** -30 -40 Oriental Brvvtry 1575 -15
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    • 143 7 Reuter BANGKOK: The Stock Exchange of Thailand Index was up 1.78 to 218.45 on a turnover of 1,412,293 shares worth 209.3 million baht. MAR IS BANT Saha Union 104 *5 Ao Kham Thai Siam Camant 037 12 Ayudhya Invaatmant 264 unch Siam City Bangkok Agro-lnd 73 50 unch Camant
      Reuter  -  143 words
    • 73 7 Reuter THE JAPANESE Finance Ministry is to institute a study to consider changing the corporate disclosure rules to provide more information for investors. The study will look at whether companies should include data on profits for separate divisions, products and overseas regions in corporate earnings statements.
      Reuter  -  73 words
    • 478 7 Spot prices still below Opec's Reuter MOST JAPANESE companies had decided not to renew term contracts to lift Iranian crude oil because spot prices had remained considerably lower than Opec's official levels, industry sources said. They said a cargo of the MidEast
      Reuter  -  478 words
    • 156 7 Reuter TIAN AN China Investments Co Ltd, a company controlled by Sun Hung Kai Co Ltd and Chinese interests, has placed 84 million new shares at HK$l.O5 each with unidentified investors, an introductory document of the stock by arranger Sun Hung
      Reuter  -  156 words
    • 113 7 Reuter DIVERSIFIED industrial and investment group Adelaide Steamship Co Ltd is looking to the British market for future investment because of the high share prices and interest rates in Australia. VBecause of lower interest rates and improved economic statistics, we believe the UK offers better
      Reuter  -  113 words
    • 77 7 Reuter ACMEX Holdings Ltd, a unit of industrial Equity Ltd (lEL), proposes to make a formal takeover offer for all the issued capital of Cheetham Ltd, a producer of salt and animal feed. It will offer one share for every two Cheetham
      Reuter  -  77 words
    • 58 7 Reuter JAPAN HAS relaxed its limit on the establishment of securities company outlets in order to service a growing number of individual investors, the finance ministry said. Japanese securities can now set up as many as 21 new outlets in the two years before March 31,
      Reuter  -  58 words
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  • FEATURES
    • 522 8 MARRIAGE, contrary to what most might be inclined to think, turns out to be a laughing matter after all. People who laugh together stay together, said a psychological study some time ago. reading into marriage a truth which might in a way apply to all human relationships.
      522 words
    • 419 8 Dear Sir We refer to the article "Tuas prepares for the upturn" featured on Wednesday, March 4. Mr Chua of Teck Cheong Aluminium was reported to have said that JTC insists that only 20 to 30 per cent of the office
      419 words
    • 355 8  -  letters to the EdHori John M Carter Dear Sir For the last 12 months we hsve been using a Post Office Box number as a postal address in the hope and expectation that correspondents would use this box number and that the handling
      355 words
    • 978 8  -  Vaughan Williams, considered one of England's greatest composers of this century, did not come from a family of prominent musicians. His mother was a close relative of scientist Charles Darwin, his father's side boasted of lawyers and jurists and an aunt did publish
      978 words
  • Page 8 Advertisements
    • 254 8 s^-frsß 4 i 6-7 April 1987 Pavilion Inter-Continental Hotel, Singapore Highlights The Singapore Budget 1987 its implications for your company. The Malaysian tax reforms. Corporate Structuring With special reference to companies seeking listing on the Stock Exchange of Singapore Daaftng and Automated Quotation System (SESOAQ) or planning to set up
      254 words
    • 44 8 BT wvlcomos Mm from reedere. Your lottora 'must Includo your signature, full nam*, addross, and homo and oMco tolophono numtoors, N any. You may add a psoudonymn, If you wish. Addrots your lottors to: Tho Editor, PmlnoM Timet, 390, Kim Bong Road, Singapore 0923.
      44 words
  • Page 8 Miscellaneous

  • Executive Lifestyle
    • 445 9 NATIONAL Westminster Bank's latest monthly outlook report lists, on page 10, the ST Index as among those to have set new records this year. The inside cover says the report was prepared from information up to Feb 24. But the ST Index did not hit a
      445 words
    • 297 9 Don't bug me I've a bugaboo TRENDS UPI A COMPUTER BUG messed up L J Scamahom's birth certificate and he's been having trouble ever since. Now he promises revenge with the bugaboo a cloee relative to the pet rock. It is a bug-like creation about four centimetres long, made from
      UPI  -  297 words
    • 608 9  -  With JEFFREY TSANG IT USED TO BE sheer joy when it flooded. Porch and garden would turn into a home-side lake on which to float paper boats, in which to splash around, or at which to marvel. These childhood joys have since been lost. But
      608 words
    • 1189 9  -  By MONICA GWEE WE WISH we could say it was purely a yen for publicity that led Neil Lawrence to talk Executive Lifestyle into having breakfast with a slightly hairier version of Mae West. But for Lawrence, 32, creative director at Ogilvy Mather Advertising,
      Picture by YAP YEW PIANG  -  1,189 words
    • Executive Lifestyle: Entertainment & Pursuits
      • 860 10  -  HEALTH By RICHARD SEAH IF YOU WANT to buy the Kamasutra, go to a book store and look under "health". There, you will probably find other books on sex, as well as on topics like what names to give your newborn child. There are real
        860 words
      • 863 10  -  GROOMING By LILIAN ANG A GIGGLE HERE, a sigh there but one after the other, pale with anxiety, they tamely mount the simulated catwalk and try their luck with the coveted model's gait that seems to elude all but the most persistent.
        863 words
      • 485 10  -  *y Monica Greve FANCY A CHIMPANZEE or an amphitheatre as a tax-exempt item on tax returns? Small companies and professional practices with less than 20 workers can do their bit for the zoo for as little as $350 a year. The zoo's Associate
        485 words
    • Executive Lifestyle: Entertainment, the Arts & Pursuits
      • 548 11  -  CINEMA By JAIME LYE ONE CAN ALMOST imagine the sequel to The Colour Of Money. A wheelchair-ridden Fast Eddie Felson, without his teeth and his >• voice eroded by Jack Daniels whisky into a senile croak, leans over the baby carriage
        548 words
      • 525 11  -  FOOD By THE FOOD TEAM "IS THIS SNAKE?" someone asked, gingerly holding up a slippery black sliver from her soup. "Nope, that's black fungus ears or bok ji," she was told. "The snake is the white stuff that looks like chicken meat." Shreds
        525 words
      • 828 11 CINEMA: Over Tho Top starring Sylvester Stallone, Robert Loggia and Susan Blake- ly. Showing at Cathay: 11; 1.30; 4; 6.30; 9.15, Golden Sultan: 1.30; 4; 6.30; 9.15, Broadway: 1.30; 3.30; 7; 9, Bedok: 1.30; 4; 7.30; 9.30, Regal: 1.30; 4; 6.45; 9. Vindicator starring Terri Austin, Pam Grier and
        828 words
      • 732 11  -  MUSIC By BRIAN MILLER IN THE LAST WEEK. I must have watched Tony, Spencer and Anthony go through at least 22 sets. And I must have consumed, maybe, an equal number of beers jugs, that is. So perhaps it is an understatement to say that
        732 words
      • 719 11  -  DANCE By LISA LEE IT IS SAID that there's a time to weep, and a time to laugh; a time to mourn and a time to dance. Difficult sometimes to decide whether to laugh, weep or go through the paces of the dance at a
        719 words
      • 403 11 WARNER Brothers (Far East) Inc is pushing ahead with its plans to introduce original video cassette movies into the Singapore market. Encouraged by the pas&ing of the Copyright Bill, Warner Brothers has chosen April as the date of its launch. About eight titles a month will be released,
        403 words
    • Executive Lifestyle: Sports
      • 614 12  -  on TRdCK with Brian Miller AUSTRALIAN RIDER Robert Thompson has been drawn to partner a gem of a horse in Race 6 the International Jockeys' '.invitation Race for the ARC Tro,phy and he could bring home 'the bacon by
        614 words
      • 664 12  -  By WALTON MORAIS TEN YEARS LATER, nothing much had changed for the golfer. The scores looked familiar, and "They were again talking of asking ,-M Ramu to stay on as a resident pro. For the 38-year-old Ramu, his return trip to Papua
        664 words
      • 318 12 FOOTBALL Reuter JACQUES GEORGES, the president of the European Football Union (UEFA), has defended a .decision to prolong the ban on £nglish soccer clubs from UEFA xompetitions and urged the British government to take forceful action against hooligans. "I would be
        Reuter  -  318 words
      • 315 12 GOLF AP LONGSHOT Brad Faxon played a bogey-free round of 5-under-par 66 and. with assistance from his caddy and a house guest, took a one-shot lead on Thursday in the first round of the US$6OO,OOO Bay Hill Golf Classic in Florida. Faxon
        AP  -  315 words
      • 291 12 OLYMPICS AP THE 1988 winter Olympics are still 11 months away, but one of the losers has already been determined. An official of the ABC network estimates that his company will lose about US$7O million televising the Calgary games next
        AP  -  291 words
      • 213 12 TENNIS AP TOP-RANKED Martina Navratilova said on Thursday she will not reconsider playing in the Women's International Tennis Association championship on Amelia Island, in spite of promoter speculation that she wants a grudge match against Steffi Graf. Graf, 17, beat Navratilova last Sunday to
        AP  -  213 words
      • 235 12 MOTOR RACING Reuter MONTREAL MAYOR Jean Dor* has intervened in a row between two breweries which is threatening the Formula One motor race due to be staged in the Canadian city on June 14. The dispute focuses on the use of the Gilles Villeneuve
        Reuter  -  235 words
      • 332 12 SQUASH Reuter TOP SEED Jahangir Khan of Pakistan and defending champion Ross Norman of New Zealand both dropped a game before taking their appointed quarter-final places in the French Open squash championship on Thursday. Jahangir, the victor in the championship for
        Reuter  -  332 words
      • 811 12  -  BRIDGE By MIKE THUMBA LAST WEEK, we discussed the Point Count System of bidding and also established the general rule that you should open the bidding at one level if you have a total of 13 or more high card points. This
        811 words
      • 221 12 BOXING 9T Reuter JAMES "Quick" Tillis was quick '•to accept an invitation to fight '«Briton Frank Bruno' and the I self-styled cowboy from Oklaho>ma hopes a victory can bring ;*him a fast shot at World Heavy--weight champion Mike Tyson. "I've got to
        Reuter  -  221 words
    • Executive Lifestyle: Personal Investment
      • 820 13  -  READERS' QUERIES Keeping track... By RAMESH CHANDIRAMANI a keen Investor who has been following our comments on palm oil notes that there are several laggard performers in the plantation sector. He feels «those commodity stocks are Sworth a punt in view of
        820 words
      • 827 13 THE WARRANTS GAME mm Ramesh Chandiramani WHEN DEALERS and investors discovered that big money could •be made from trading them, warrants immediately became the vogue on the Singapore stock exchange. Warrants, or transferable subscription rights (TSR), is not a new game in Singapore,
        Ramesh Chandiramani  -  827 words
      • 815 13 Collecting collectibles can be compulsive and profitable ALTERNATIVE INVESTMENT COLLECTING is like Mting peanuts "You have one and can't stop," says Malcolm S Forbes, the 67-year-old chairman of Forbes Magazine Inc. He should know. Since he purchased his first set of miniature World War I doughboys at an auction more
        815 words
      • 582 13 WALL STREET FOCUS NYT AFTER CLIMBING PAST 2,000, 2,100 and 2,200 so far this year, most technical analysts on Wall Street believe the Dow Jones Industrial Average is poised to scale the next century mark of 2,300. But others sniff
        NYT  -  582 words
      • 420 13 mm* \mmt Ramesh Chandiramani IS THE current stock market setback the start of a major new bearish trend? No. It is, I believe, merely the modest correctionary pause this columnist had stated would take place during the past two sessions.
        Ramesh Chandiramani  -  420 words
      • 605 13 ART Sothoby's Research Department IT IS NOT OFTEN that a Singaporean makes an impact on the international art market scene, but one did last week. And he did it in an unusual, but one of the fastest growing markets: Chinese snuff bottles.
        Sothoby's Research Department  -  605 words
  • Page 9 Advertisements
    • 63 9 The Hour Glass Singapore's premier watch boutique with the largest range of watches in 5 convenient locations When you shop at The Hour Glass you shop with confidence. You're assured of the absolute authenticity of every timepiece you buy, of professional advice, competitive prices, international guarantees and after-sales care. TH
      63 words

  • Page 10 Miscellaneous
    • 2484 10 SLOTS TO WATCH Walking in the rain and some hanky panky TODAY: The late ingrid Bergman creates waves in A Walk In Tha Spring Rain (11.05 pm, Channel 5) as the wife of a professor who falls in love with a mounQuinn (right), \4kIJhL, Fritz Weaver co-star. -vmS* i James
      2,484 words



  • Page 13 Advertisements
    • 27 13 BT welcomes investment ideas and viewpoints from brokers, bankers and readers. Address all correspondence to: The Editor, Personal Investment, Business Times, 390 Kim Seng Road, S'pore 0923.
      27 words

  • SHARE INFORMATION
    • 4277 14 PROFIT-TAKERS came out in force yesterday, pushing share prices on the Singapore stock market sharply lower. The BT Composite Index. a 12.60- point loser at noon, declined 19.86 points to 913.28. The Straits Times Industrial Index plunged 24.89 points to 1.041.15, after having
      4,277 words
    • 217 14 SINGAPORE Di Mt Indlcas Mardt 13 Mordi 13 pas S90 53 »TCII»I»I 930.14 913.2* }rT«m> ait +19 it wkM ******94 *****237 190 14 *TO*/OS +139 +21 MIS 37* +14 trCAOl -*094 -6197 SftMrioM 3a* +12 «TO*V +*****0 536*0* P M HMp 290 +11 STMMM 10*404 1041.1S C1
      217 words
    • 4527 14 810 and oiler prices officially listed and business in end reported to the Stock Exchange ol Singapore yesterday with the number ol shares traded shown in brackets in lots of 1,000 units unlees otherwise specified All Time Settlement Contracts are quoted alter the word "SETT".
      4,527 words
  • Page 14 Advertisements

  • COMPANY NEWS
    • 205 15 TRUSTEE STOCKS and gold have attracted some 19,000 Singaporeans to withdraw $230 million from their Central Provident Fund (CPF) accounts for investment as at Feb 28, 1987. The CPF released this figure yesterday and, at the same time, the board announced the appointment
      205 words
    • 434 15 AILING EMPORIUM Supermarket Holdings Bhd group has liabilities of about Ms22o million against assets of $20 million, according to provisional liquidator Geh Cheng Hooi. He said that of the liabilities, $40 million were owed to banks and the remaining
      434 words
    • 243 15 Bernama ES PLANTATION-based Guthrie Ropel Bhd has reported a hefty 82.5 per cent decline in group pre-tax profit to M 53.66 million for the year ended Dec 31, 1986, from M 520.92 million the year before. Group turnover fell 22.4 per cent
      Bernama ES  -  243 words
    • 346 15 PROFIT-TAKING depressed the Kuala Lumpur stock market yesterday, with share prices easing across the board in moderate trading. Only a handful of stocks managed to buck the trend. Cases in point were Mycom which surged 34 cents to M 53.64 while CI Holdings
      346 words
    • 109 15 HONGKONG Hongkong Index Fridoy 1744 75 Thursday *****3 Week ago 1792 71 Hang Seng Index fridoy *****7 Thursday 2750.14 Week ago *****4 TOKYO Nikkei Average Friday *****95* Thursday *****.20 Week ago *****85 TSE Index Friday *****1 Thursday *****4 Week ago 1816.69 SYDNEY All Ordinaries Friday 1636.3 Thursday *****
      109 words
    • 251 15 Managers' prices 1 1 I < at 1 for March 14 16 First B'putro 606 611 Singapore Unit Trust Second B'putro Third B'putro 550 427 555# 432 The Commerce 1 02 no Fourth B'putro 482 487 1 The Sovinas Fund 089 0 96* Fifth B'putro 323 328 S
      251 words
    • 955 15 A FRESH BOUT of optimism ahead of next Tuesday's Budget statement helped send shares higher during the morning yesterday, with the FTSE 100 Index crossing the 2,000 level for the first time in over a week. By 1212 GMT, the index was up 13.3 to 2,003.0. Dealers said
      955 words
    • 570 15  -  By NAJEEB JARHOM THREE listed members of the Malaysian Hong Leong group have reported substantially lower profits for the six months ended last December. Hong Leong Industries Bhd (HLI) suffered a 37 per cent fall in group pre-tax profits to M 59.23 million
      570 words
    • LATEST RESULTS
      • 26 15 Group after-tax loss of M 51.64 million in the year to Oct 31, 1986 (profit of M 51.42 million previously). No dividend mentioned.
        26 words
      • 22 15 Group after-tax profit of M 5170,000 in the first half to Dec 31. 1966, (M 546,000 previously). No interim dividend.
        22 words
      • 36 15 Group after-tax profit of Msl7 million in 1986 (M 516.3 million previously). A final dividend of 13 per cent less tax will be paid on April 23 to shareholders registered on April 6.
        36 words
    • 3316 15 BID and offer prices officially listed and business in and reported to the Kuala Lumpur Stock Exchange yesterday, with the number of shares traded shown in brackets In lots of 1.000 units unless otherwise specified. INDUSTRIALS Aona I —l Ajkwmoto (3168 3IBSJ 111 316 111
      3,316 words
  • Page 15 Advertisements
    • 137 15 LOST SHARE CERTIFICATES The following Share Certificates together with the relevant signed transfer deeds have been reported lost or destroyed: Name of Company Certificate Wo. In the Name of No. of Shares Keppef Corporation *****5 DBS Nominees Re Ltd Ixl 000 Limited Sembawang Shipyard *****6H/8F Employees Provident 3 x 1,000
      137 words
    • 209 15 NOTICES IN THB MATTER OF THE COMPANIES ACT (CHAPTER 1«S) AND IN THE MATTER OF CHUEN GUAN INTERNATIONAL PRIVATE LIMITED (In Members' Voluntary Winding-up) NOTICE OF FINAL OFFICIAL NOTICE PROPOSAL TO CHANGE OF SHIP'S NAME We South East Ocean < Shipping Pte Ltd of ad- < dress 5611 North Bridge
      209 words
    • 292 15 J m {*:f,ViOk Pl* LTD (INCORPORATED IN THE PURSUANT TO SECTION 190(1) At an Extraordinary General Meeting of the member* of the abovenamed Company duly oonvened and held at No. 1 Sophia Road #05-14/16, Peace Centre, Singapore 0022 on 9th March 1967 at 11.30 a.m. the special Resolution sst out
      292 words

  • 541 16 A STUDY by the Public Sector Divestment Committee suggests that there is sufficient liquidity to support the government's divestment plans. The committee has made the following assumptions: e The divestment plans indicated in the report will be carried out over a 10-year period.
    541 words
  • 197 16 MORE THAN half of the 99 gov-ernment-linked companies which have been reviewed will not be privatised. Numbering 52, these companies are either single-purpose or serve in-house needs; are unattractive to investors; or are to be wound up. They also include those which have
    197 words
  • 237 16 Reuter ASEAN energy ministers agreed in Jakarta yesterday to boost cooperation on energy and to put fresh emphasis on preparing for tighter oil supplies by developing coal and natural gas. The ministers said they would establish a new Asean centre in Jakarta for
    Reuter  -  237 words
  • 303 16 THE SUBORDINATE COURT yesterday rejected a prosecutor's application for an order to direct former PanElectric director Peter Tham Wing Fai to release some bank account documents. Senior District Judge E C Foenander ruled that the application last week by Deputy Public Prosecutor John Koh of the
    303 words
  • 1195 16 Report of the public sector divestment committee lis; FOUR HIGHLY "profitable" statutory boards, whose latest accounts show a combined surplus of close to $1 billion, have been identified as good candidates for total privatisation. They are: Telecoms, which earned $242.7 million from its operations; Public
    1,195 words
  • 281 16  -  Reports by RICHARD SEAH, CHUANG PECK MING HOMER CHEN THE COMPANY being proposed to run the Mass Rapid Transit system is expected to go public by November this year. An outline of the plan for the company has been presented to the government and
    281 words
  • 96 16 THERE SHOULD be further study before a decision is made on the privatisation of six companies belonging to the Sheng-Li group, the committee recommends. The companies include Allied Ordnance Company of Singapore, SAFE Enterprises, Singapore Aircraft Industries. Singapore Food Industries and Singapore Tech- nology Corporation.
    96 words
  • LATE FILE
    • 57 16 Reuter US INFLATION at the wholesale level remained firmly under control in February as wholesale prices edged up by only 0.1 per cent, the government said yesterday. The rise, which followed a jump of 0.6 per cent in January, was smaller than expected and was
      Reuter  -  57 words
    • 66 16 UPI A SWEEPING proposal to strengthen US trade policy, after winning unanimous approval in a sub-committee of the House of Representatives, will face extensive debate in the full committee next week. Ways and Means Committee chairman Dan Rostenkowski said that the plan would "toughen our
      UPI  -  66 words
    • 27 16 Reuter ASEAN is considering a request from Papua New Guiriea to become its seventh member, Indonesian Foreign Minister Mochtar Kusumaatmadja has said. Reuter
      Reuter  -  27 words
    • 33 16 Reuter JAPANESE Prime Minister Yasuhiro Nakasone yesterday refused to drop a proposed sales tax in spite of a move to have him expelled from his own party. Reuter
      Reuter  -  33 words
  • 70 16 WALL STREET stock prices inched higher in moderate volume yesterday. A slight 0.1 per cent rise in February producer prices had little effect on the market. The Dow Industrial Average rose three points to 2270. Advances led declines by a five to three margin on a volume
    70 words
  • 55 16 COMEX gold futures drifted slightly higher on renewed concern over Latin American debt problems yesterday morning after easing on disappointing news on US producer prices for February. Gold for delivery in April edged up US$O.6O at $410.50 an ounce from a low of $409.20. The Comex silver report
    55 words
  • Page 16 Advertisements
    • 81 16 I Wanted to purchaae used machinery for cotton spinning plant. 1) Cotton spining ring complete plant with blow room/carding/auto corner with all accessories. 2) Rotters/open end for cotton yarn complete plant including carding blow rooms and all accessories. 3) Fancy twisting machine for novelty yarn 20 machines. 4) Continue dyeing
      81 words
    • 6 16 Mahathir mafcaa a piaa, Paga 3
      6 words
    • 275 16 VAN DER HORST LTD Notice of Annual General Meeting ALL MEMBERS ARE CORDIALLY INVITED to attend the Thirteenth Annual General Meeting of the Company which will be held at 11, Pandan Crescent. Singapore 0512 on 30th March 1987 at 10.00 a.m. for the purpose of transacting the following business: AS
      275 words
  • Page 16 Miscellaneous