The Business Times, 5 September 1987

Total Pages: 16
1 16 The Business Times
  • 12 1 BUSINESS TIMES MCI (P) 112/12/86 Weekend Edition, September 5-6 1987 75 CENTS
    12 words
  • 185 1 Overseas markets Friday HK Hang Seng Index 3654.48 0.53 Tokyo Nikkei Average *****.03 94.15 Sydney All-Ordinaries 2194.9 (-8.8 Thursday New York (Dow Jones) 2599.49 (-2.55 London (FT 30 index) 1774.5 (+11.3) Exchange rates THE S$ closed higher sgainst the US$ st S$2.0970/80 (S$2.0995/1005) in modsrsts trading yesterdsy.
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  • 265 1 Reuter THE US FEDERAL RESERVE raised its key discount rate yesterday to 6 per cent from 5.5 per cent effective immediately. The move should help bolster the value of the weak dollar and push up interest rates throughout the US economy. The rise in
    Reuter  -  265 words
  • 328 1 THE SINGAPORE stock market closed on a firm note yesterday as bargain hunting and shortcovering helped to lift share prices across a broad front. Selected Malaysian counters were actively traded yesterday while local blue chips posted double-digit gains in thin trading.
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  • 448 1  -  Target could be reached by 1990, says SCAL By LEE HAN SHIH Property Correspondent THE MARKET for property maintenance could grow to $1 billion annually by 1990, said the Singapore Contractors Association Ltd (SCAL). But this presupposes that the property market could carry out
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  • 431 1  -  By ALVIN TAY Banking Correspondent THE Stock Exchange of Singapore has made an exception for financial institutions under which the latter will receive payment against delivery of share scrip instead of one day later as it applies to all others under the
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  • 262 1 Bernama ES MALAYSIAN Finance Minister Daim Zainuddin said yesterday that rumours and seminars highlighting "differences" in Malaysia were driving away foreign investors. These were among the many factors which had contributed to the across-the-board fall in prices on the Kuala
    Bernama ES  -  262 words
  • 95 1 Bernama ES MALAYSIAN Trade and Industry Minister Datin Paduka Rafidah Aziz has urged every sector in the property industry to adopt a more cohesive approach. There must be a measure of rationalisation among developers to ensure a viable property market, she said
    Bernama ES  -  95 words
  • Page 1 Advertisements
    • 243 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM $:-!({%&"`):?|-/|(&>&(-\$^?|.%: Earlier story on Pago 5 INSIDE CORPORATE citizens' greater support of this year's National Day parade was a dear sign of their growing maturity in wanting to 'dedare In their own way that they too are Singaporeans', said Dr Yeo Ning Hong. HOME
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    • 129 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM t %> ftsjej. ■r fit -JIM 4S Js£M PPt*H V%IH Tea for one Page 9 Piuiml TrtH Where have all the nice girls gone? Page Have you seen a good book lately? Page 10 TV programmes for today and tomorrow Page 10 Unpretentious night
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  • HOME NEWS
    • 397 2  - Thanks for the support Dr Yeo Corporate citizens among those who get pat on the back By MARTIN SOONG CORPORATE CITIZENS' greater support of this year's National Day parade was a clear sign of their growing maturity in wanting to "declare in their own way that they too are Singaporeans",
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    • 433 2  -  By ANNA TEO LEADING private hospitals in Singapore are taking up the government's invitation to provide fertility services for couples who have difficulty conceiving. Among the major hospitals, only Mount Alvernia Hospital is not applying to run fertility clinics. The others The American
      433 words
    • 304 2 SINGAPORE is so exposed to the rest of the world that it can thrive only by putting into practice good ideas and new knowledge absorbed from abroad. Such ideas and knowledge come mainly from books, said Dr Tay Eng Soon, the
      304 words
    • 241 2 AUSTRALIA and Singapore should continue working together in pursuit of their common objectives. These. President Wee Kim Wee said, were a healthy world economic system and security and stability in Asia-Pacific. He was speaking yesterday at a dinner speech for the Gover-nor-General
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    • 417 2  -  By BOEY KIT YIN GUPPIES, swordtails, mollies, angelfish, tiger barbs, discus and other aquatic fish and plants are not just subjects of every fish hobbyists but are major foreign exchange earners for Singapore as well. Last year, these tropical fish
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    • 110 2 A SYMPOSIUM on hazardous substances in the environment will be held at the Marina Mandarin from Oct 4 to 7. Organised by the National University of Singapore in conjunction with the International Centre for Medical Research, Kobe, the First Asia-Pacific Symposium on Environmental and
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    • 98 2 MORE LAND in Punggol and Jalan Kayu is now available for temporary farming. The Primary Production Department is offering a total of 36 hectares of vacant land through open tender on a three-year tenancy. There will be 24 plots, totalling 28 hectares, in Punggol, and seven plots
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    • 331 2 KEEPING COOL costs each Singaporean an average of $101 a year. Per capita, that's how much Singaporeans spend annually on air conditioning. Air conditioners, operated commercially, publicly and privately. ran up an electricity bill of about $266.4 million last year. That's a fifth of Singapore's
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    • 1277 2 AT CONVENTtO VmmI Berth keppel WHARVES Arrow Duke KIS Boron Stor <34 Con Gosson <16 Donyong <35 Kim Soon li <22 Koto Be nor K33 Koto S*«oti (C32 li Hong (C19 Netsonet KI5 Qinghecheng <29 Southern Cru <19 Tomoh Sotu <27 Trode Foir <36 Wymorine <20 Xinfeng
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  • OVERSEAS
    • 582 3 AP THE EUROPEAN COMMUNITY (EC) faces an autumn agenda headed by a cash crisis and trade tensions with the US and Japan. With Denmark in the rotating chairmanship of its governing body, the EC, or Common Market, will also resume its diplomatic campaign
      AP  -  582 words
    • 140 3 Reuter NEW ZEALAND'S Labour government has won a parliamentary seat from the opposition by just one vote on a judicial recount following the Aug 15 general elections. The result, giving the seat of Wairarapa on North Island to Labour's Reg Boor man, was
      Reuter  -  140 words
    • 276 3 Oana/PNA MALAYSIA and South Korea will be Asia's employment centres in the coming years, the Philippine Overseas Employment Administration (POEA) said in a recent report. In Malaysia, it said, the government has approved the implementation of 96 multi-million dollar projects, a
      Oana/PNA  -  276 words
    • 276 3 AFP POLITICAL donations in Japan edged up 15.1 per cent to a record high of 167.S billion yen (US$ll7 million) last year, the Home Affairs Ministry said in a report in Tokyo on Thursday. The Japan Communist Party topped the list with a record high of
      AFP  -  276 words
    • 388 3 NYT EVEN A COMPANY that specialises in navigation can have trouble finding a quick way to complete a technology-transfer deal. Etak Inc of California needed a year and a half of meetings, demonstrations and negotiations to nail down a technology agreement with Blaupunkt-Werke
      NYT  -  388 words
    • 304 3 AP THE US government could earn up to US$5 billion a year by selling its citizens the right to import certain goods instead of giving such rights to foreign exporters, a former Treasury official says. C Fred Bergsten. Assistant Secretary of
      AP  -  304 words
    • 155 3 AFP JAPAN'S private-sector equipment investment is expected to increase 3.5 per cent this year, slightly higher than last year's 3.1 per cent, the Japan Development Bank said yesterday. The government bank said domestic investment by 1,920 leading Japanese firms was expected to rise 3.5 per cent
      AFP  -  155 words
    • 533 3 AFP ECONOMIC growth in industrialised countries will be a lot higher between now and the end of 1988 than previous pessimistic studies have forecast, economic experts at the Paris-based Indosuez bank said. The bank's International Economic Notebook newsletter said gloomy reports put out
      AFP  -  533 words
    • 368 3 AP TSUNEO SAKAI, a Fuji Photo Co employee whose acceptance to the University of Rochester Graduate Business School was overturned after complaints from Kodak, said he only wants to study and has no interest in corporate espionage, a newspaper reported on Thursday. "I came
      AP  -  368 words
    • 346 3 NYT PRESIDENT Jean-Baptiste Bagaza of Burundi was overthrown on Thursday by the military leadership while he was out of the country, a communique broadcast by the nation's official radio station said. The announcement comes at a time when, human rights organisations and western diplomats
      NYT  -  346 words
    • 817 3 ARRIVALS Operator Service number ffclM From MAS MH67I 0920 Km AC acm> 0925 TYZ/lMt/IOM CPA CX710 1015 CGK MA •1421 1100 »WN GU GA960 1100 CGK SA SQ105 1105 KUL SU SO 201 1145 CGK SA SQI91 1155 PW THAI TG403 1155 woe CIA GA7225 1200 HIP
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  • Page 3 Advertisements
    • 58 3 *I Y \l ji I*l If The business person's choice, every I I II I II I Tuesday. Thursday. Saturday and I /l\\ I II I Sunday. Leaving Changi Airport at J- VVyl -L 22:05 hours and arriving at Lester B Pearson International Airport the following day. Call your Travel
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  • Page 3 Miscellaneous

  • COMMODITIES
    • 317 4 Bernama ES DEVELOPING COUNTRIES such as Malaysia which require better market opportunities for their primary products should continue to press for liberalisation of trade, especially for its oils and fats. The secretary-general of the Primary Industries Ministry, Datuk Wong Kum Choon, said at the
      Bernama ES  -  317 words
    • 456 4 Crude palm oil futures closed lower on the Kuala Lumpur Commodity Exchange yesterday. The lower CBT market coupled with the insignificant in-take of two parcels of RBD palm oil by India saw operators sidelined. September fell Ms 2 to close at Ms7ls a tonne while October was Ms
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    • 93 4 Bernama ES PROMOTION work to increase the awareness of the beneficial and advantageous properties of palm oil will be intensified. Porim director of the Techno-Economic and Technical Advisory Service division, Dr Yusof Basiron, said this was necessary as the Malaysian palm oil industry could
      Bernama ES  -  93 words
    • 87 4 MOST PRODUCTS were at stable to slightly firmer levels. The highlight of the day was the Petronas gasoil tender award, which at $22.25/bl set a new ceiling on gasoil price levels, $0.20/bl above the most recent traded levels. Duboi (Oct) WMI Ttioi USJ/borr^ 17.23 Omngt -0.05 iMwiwdlott,
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    • 207 4 Reuter SRI LANKAN tea production may fall by about three million kilos this year from 1966, but prices are expected to firm up. Tea director Chrisantha Perera of Forbes and Walker Ltd said the fall was due to a drought in the first half
      Reuter  -  207 words
    • 308 4 HONGKONG: Gold closed slightly lower in (airly active trading as late profit-taking eroded early gains yesterday. Reports that a Saudi oil tanker had sunk in the Gulf triggered some buying that pushed gold to a high of U*****.10/60 an ounce. The rally stalled as participants preferred to keep
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    • 321 4 SINGAPORE The market yesterday cloaad slightly highar with Octobar One RSS buyer# quotad at 216.00 cants/kilo, up 0.50 cants from Thursday's closa. Tha morning aassion was littla changad from Thursday s lave! after fluctuating narrowly in quiet trading. Trading in the afternoon remained quiet but pricea gained slightly on
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    • 272 4 RAS prices mtc Mta/k|,FC M8M m NOON CLOSE Buyora Selfcen Rvyon SsHsn RAS prices mtc MMg,R >8 In M« NOON QOSE Int 1 RSS Prompt ovjmn 220.00 221.00N Bvyocs 2204)0 SoRofi 221.00N In* 1 RSS Oct 87 216.00 216 JO 216.00 216J0 to* 1 RSS Nov 216.00
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    • 78 4 U-nH/k®. 14M| 0CT08H 87 NOVEMBER 87 (currant month) (forwof ■d mwifh) RAS NOON NOON ll/yfCI •vr*n Satan SSI 30 200.00 303.00N 300.00 303.00N SSI 50 19tJ0 *****N I9tJ0 300JON T dl:l Salan Salan SMI cv 365.00 367.00N 366JOO 364.00N SMI I 265.00 267.00N 366.00 26A.00N SMI 5
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    • 278 4 Chinese Produce Robvtfo 20/25% Exchange FOt NSW 350.00 StNtn noon dorinQ pi Sop 4 (SS/100 kg) ice* on Nutmeg 110 FOt NSW 1521 A) Coconut oil twr FOt nsw 1 339.00 Mi FOt 95.00 Gambler OW drum FOt 105.00 FOt NSW FAMA Oi*n pitw ***** W4 New drum
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    • 148 4 SOYBEAN futures in Chicago closed one to 2% US cents higher on Thursday, with November up one cent at U555.11%. Prices opened lower but quickly moved higher on professional and commission house buying. Profittaking emerged when November failed to penetrate U555.14%. but late shortcovering closed prices with modest gains.
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    • 168 4 WHEAT futures in Chicago closed 3% to >4 US cent lower on Thursday, with May up cent, as December closed 2tt cents lower at USs2.B7* Prices came under pressure from local selling, with commercial buying limiting loeses at midaession. Prices dipped again late with the nearby months settling near
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    • 311 4 London Commodity Exchange Previous doting pctoi Coflii losh In rtoci London, n In i ioMoci option OF London S-P 1310/1313 (1312/1315) High/Low 1325/1311 Nov 1347/1348 (1350/1351) High/low 1340/1345 Sol** (6112) Cocoa S*P 1203/1206 (1210/1213) High/Low 1221/1210 OK 1247/1248 (1254/1255) High/Low 1264/1244 dOlfl (3658 No 6 FO# (USS/tomo) Oct
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    • 144 4 THE PRICE of *1 on «M Kuala Lumpur Tin Mart* toil four c#nts from Thursday la doaa at a kHo. Tha marfcat extended Thursday's two-cant fall an InMal Mghar odertnps and weaker Europoan •pot tin. Sellers offorod 13« tonnes at tha start of ttie markat at MflLtS while
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  • Page 4 Advertisements
    • 199 4 SINGAPOREAN NEWS FOR SINGAPOREANS OVERSEAS. I S WEEKLY OVERSEAS EDITION SATURDAY, SEPTEMBER 5. »W SI s M.C.HP) No. 222/8/87 -V-» •>5 /yVA, The Straits Times Overseas Weekly. It's the new weekly newspaper, printed on lightweight paper in convenient tabloid size. It will carry business, economic, political and general news on
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  • BANKING AND FINANCE
    • 419 5 SIMEX Trading on Sopttmbor 4 1*7 Open High Low Saw ta Vol Op/Int Vol EUROOOLLAR Sap 17 92 60 92.43 92.59 92.60 559 3446 610 Oac 47 91.44 *1.94 9145 9187 8000 8461 ***** Mor 84 91.30 9IJ4 91.47 91.44 911 3645 1427 toi 44 91.24 91.27 ♦1.23 91.23
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    • 193 5 DECEMBER Eurodollar opened 8 ticks lower at 91.86 on Simex from overnight losses following rumours of a G-5 plan to lower the dollar s target range. However, short-cover-ing in the oversold market ahead of the long weekend and release of US unemployment figures saw prices
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    • 253 5 Reuter WITH US interest rates soaring to the highest level in 18 months, the American central bank is under growing pressure to take decisive measures to bolster the dollar and restore confidence in US securities markets. The dollar's steep fall over the past few
      Reuter  -  253 words
    • 998 5 CURRENCY FUTURES OPTIONS IMM Thursday, Sipllnibar 3 1987 BRITISH POUND £28,000; C4 h»I» par i Pv Prtca t*P-c Oct-e 1600 J-50 4.90 Dac-c 5,80 ••P-P 0.004 Oe*p 040 Doc-p 145 1625 3.00 3.05 4.20 0.004 1.10 2.25 1650 040 1-70 2.85 0.30 2.20 3/40 1675 0.10 0.90 1.85 2.00
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    • 281 5 UPI BRAZIL is seeking up to 30 per cent in discounts from US, Japanese and European banks on part of its US$ll2 billion foreign debt. Finance Minister Luiz Carlos Bresser Pereira said in an interview published in Rio de Janeiro
      UPI  -  281 words
    • 136 5 Gold futures on Sep 3 100 troy ouncac USS par troy ou C6 OpM Mad in urn fep 463.30 445 00 443.30 464.00 -1.30 Oct 466-50 469JO 464.20 466.10 -1.70 No* 466.90 -1.70 Ok 471.30 474«0 469.60 471.70 -170 Mi M 477JO 461.00 476-50 477JO -1.70 493.00
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    • 417 5 City banks up in arms over financing for HK project FT ELABORATE PLANS to reform Britain's system for financing medium-term export credits have been jeopardised by a fierce row between the Export Credits Guarantee Department and banks in the City over a
      FT  -  417 words
    • 465 5 AP BANK CUSTOMERS have transferred more than US$l billion from Panama to hanks abroad since late June because of a campaign to destabilise the economy, according to the National Banking Commission on Thursday. The government commission's report blamed the withdrawals on rumours in Panama and
      AP  -  465 words
    • 1154 5 SINGAPORE: The US dollar closed firmer yesterday but below the day's high against most major currencies in moderate late trading. The dollar opened slightly higher due to some short-covering ahead of the long US holiday weekend and traded narrowly during the morning session. The dollar closed at 141.70/80
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    • 187 5 Indicates the average of the prime lending rates of 12 ma (or banks in S'pore Interbank market rates (offer/bid) on Sep 4 uss DM SWFC Y«n 7 doyt 6 7/0 J/4 7/0 J/i 3 IS/14 13/14 I7/I-J/I 3 1/3 3/0 V Htfh 7 1/4 1/0 15/16 13/14
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    • 58 5 THE OVERNIGHT RATE on the Singapore interbank market rose 114 point to 2 per cent yesterday. Onemonth rose 3/16 point while two- and three-months were unchanged. S$ Interbank rates at 7pm yesterday: Off» MO Ow"»0* 2 1 1/2 I -mon* 4 3/i 4 1/4 2-monrt* 4 3/8 4
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    • 360 5 ASIAN DOLLAR deposit rates closed little changed from opening levels in quiet pre-week-end trading yesterday. Most operators were reluctant to open fresh positions due to uncertainty over the dollar s near-term direction and also because of the long weekend in the US. Short-dates were steady to slightly
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  • WORLD MARKETS
    • 353 6 FT ELDERS IXL, the Australian brewing, finance, agribusiness and investment group, is planning two major flotations to raise some £1.7 billion in total on the London stock market. Mr John Elliott, Elder's chairman, said that the UK flotations were part of an international
      FT  -  353 words
    • 916 6 New York Reuter STOCK PRICES on the New York stock market closed lower on Thursday in another turbulent session dominated by worries about rising bond yields and the falling dollar. But Merck, a component of the Dow Industrials, closed with a sharp rise, saving the
      Reuter  -  916 words
    • 208 7 Reuter HUGE BOND-MARKET losses by Japan s Tateho Chemical Industries Co Ltd have revealed starkly the risks companies take when they try to reap profits from money games, financial analysts said. The example of Tateho. which said it lost 20 billion yen due to
      Reuter  -  208 words
    • 165 7 Reuter THE SECURITIES Exchange of Thailand Index rose 5.24 to 371.78 on a turnover of 7,221.082 shares valued at 688.61 million baht. Reuter MP 04 BANT Ao Kham Thai 204 unch Ayudhya Investment 364 -6 Bangkok Agro-lnd 230 unch Bangkok Bank 361 unct) Bank Of Ayudhya 352 4 Charoong
      Reuter  -  165 words
    • 95 7 SEP 04 PESOS Marsteal Oriental B 0 12 -0 005 Phil Overseas 0 1450 -0 005 Acoi« Mining 0 028 -0 005 Phi lex B 062 -0 01 0 10 -001 Picop B 37 PLOT 577 50 -225 Atlas Con. B -2 Baguio Gold San Miguel B 207 2
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    • 1266 7 Selected indices HONGKONG All Industrials Hongkong Index Fridoy 2.***** Friday 3.233 1 Thursdoy 3.2340 Thursdoy 2.394 53 Week ogo 3.1752 Week ogo 2.***** NEW YORK Hang Seng Index Friday 3.654 46* Dow Jones Thursday 3,653 95 Thursday 2,599 49 Week ogo 3.6)1 74 Wednesday 2.***** Week ogo 2.***** TOKYO Standard
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    • 49 7 Reuter SWEDISH communications group Telefon AB LM Ericsson and International Business Machines Corp are to discuss cooperation in public telecommunications. Ericsson said the two would cooperate in advanced telecommunications. private telephone networks and automatic checking systems for credit cards. Reuter Milan prices were not available
      Reuter  -  49 words
    • 880 7 London Reuter TRADING on the London market got off to a brisk start yesterday as market makers pushed share prices ahead from Thursday's firmer closing amid heavier volume than of late. The dull finish on Wall Street overnight after a volatile session there helped
      Reuter  -  880 words
    • 665 7 Hongkong DBS Securities Reuter THE HONGKONG market had a hectic trading day yesterday, led by strong buying in lower-line speculative» The Hang Seng Index reached an intra-day high of 3.685 points and then weakened due to prof-it-taking before lunch. Share prices of lower
      DBS Securities; Reuter  -  665 words
    • 488 7 Reuter SHARE PRICES on the Tokyo market gained in moderate trade yesterday on bargain-hunting after Thursday's sharp declines. brokers said. The 225-share market index gained 94.15 points to 25.744.03. but had climbed to 25,809.04 earlier. On Thursday the average fell 296.72 to 25.649.68. Advances led declines five to four
      Reuter  -  488 words
    • 411 7 Reuter A SERIES of negative signals from abroad overnight. including weaker international gold prices, pulled the Australian share market lower yesterday. At the close, the All Ordinaries Index was 8.8 points below Thursday's record close at 2,194.9 The All Industrials Index fell 0.9 to 3.332.1. the Gold Index 22.8
      Reuter  -  411 words
    • 249 7 MP 04 All Sincere Indus Asia Cement Cathay Coos NT 4.50 50 00 96 00 -017 -25 -6 Kuochan Dav Laa Chang Yuan Cham Indus Lian Hwa Indus Nan Ya Ptas 47 00 36 30 30 40 -24 -1 1.4 Chang Hwa Bank Chang Loo rig Chia Hsin Cement
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    • 113 7 SEP 04 WON fKai ***** 200 Chetl Sugar ***** -400 K ana won Ind Kia Motor ***** ***** -200 300 Daelim irxJ Daewoo Corp Daewoo Heavy Daiahin Secuntiea Dong Ah Ptiar Dong Suh Stock Dongbu Steel ***** ***** ***** ***** ***** ***** ***** 100 200 300 -500 -100 -300
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  • Page 6 Advertisements
    • 935 6 $<[@'_~['!]{<(>__?":|((:~_}+_=_ FOOOFKTftMt August 28 September 6 When you hear the word Penang, do you picture yourself lazing on its golden sands, soaking in the sun and sipping a cool, cool drink? Or do you dream of tucking into a bowl of asam laksa, or a plate of fried oyster omelette,
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    • 212 6 Singapore Airlines and Mandarin Singapore present ASIAN 60ORMCT 27 August to September 13 1987 A one-stop tour of the food, fashion and culture of seven countries. At The Mandarin Special performances Taiwan: September 5 to 7 Cultural dances and great Chinese Master Painter Mr. Chang Chieh whose paintings will be
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  • Page 7 Advertisements
    • 190 7 wNSfc r Iff wr r;'W Si L> in Casual CM) goes to the Beach ✓-tfieiv <45$ Friendly. Familiar. Fun. Your kind of beat. Your kind of music. Your kind of disco! What a feeling! And now a whole new experience awaits you dancing on the beach, right here at the
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    • 218 7 For delightful Northern and Southern Italian specialities. Pastas, soups, salads, entrees and tantalizing desserts. In a refreshingly different atmosphere. 3-COURSE SET LUNCH $25+ 3rd Floor, Westin Stamford. For reservations, call 338 8585 ext. ***** or 330 8310. The Westin Stamford Raffles City 2 Stamford Road, Singapore 0617. Westin hotels Resorts
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  • LETTERS TO THE EDITOR
    • 516 8 CARTHAGE rivalled Greece and Rome till its destruction by the Romans in 146 BC. It rivalled them in wealth and in civilisation. But there was something in Carthage that horrified its contemporaries. Scholars disagree over this, but a collection of relics headed for New York contains evidence that
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    • 970 8  -  Ian Gan Our Sir I enclose the following article in response to the article headlined "Auditors cool to idea of rotation every five years" published in BT on Sep 2: Auditors should be rotated Nobody wants to part with his valued possession; this is
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    • 117 8  -  T Chua Dear Sir Singapore Fodder has been suspended from trading since June 1987. According to you reports, Mr Ng Teng Fong has agreed to delay his purchase of Singapore Fodder's shares until the High Court lifts an interim injunction preventing the sale by Sim Lim
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    • 198 8  -  Goh Yeow Tin Executive Director Association of Small- and Medium-sized Enterprises Dear Sir I would appreciate very much if you could kindly assist in clarifying a statement in the article headlined "Local supporting industries urged to look overseas" (BT, Aug 27) that was attributed
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    • 270 8  -  Sergey Y Petiyakov Socond Socrstery Embassy at ths USSR las Clnnnnnira in Singapore Dear Sir With reference to the article "Soviet Cam Ranh link causes concern'' (BT, Aug 27), I would like to note that the Soviet Union has s supplies
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    • 159 8  -  Yang Soo Suan rrttKitni Singapore Institute of Architects Dear Sir I refer to Mr Carter's letter in your Weekend Edition of Aug 22-23. Under the previous procedure, the architect's blood, toil, sweat snd tears (BTST) to obtain planning approval are largely wasted and repeated in the building approval
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    • 230 8  -  Investor Dear Sir Re: Retaining contra system and stopping short-selling. I congratulate the SES for the enlightened approach to the above matter. Of late, the policies taken by the SES and SIC have been exemplary. It proves that the pow-ers-to-be in
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    • 303 8  -  Mdm Lee Sui Fong Dear Sir Based on the announcement by DBS/JSL, I cannot help but complain about the serious inequity in allotment of JSL shares for thoee applying for 500,000 shares and above. A total of 12,915,000 shares or 28.7 per
      303 words
    • 274 8  -  Don Tiemey Managing Director Yakult (Singapore) Pie Ltd Dear Sir Yakult's repeated claim of a 75 per cent share of the cultured milk drink market in Singapore was disputed by Mr John Tan. Product Manager at Malaysian Dairy Industries (MDI), who used a
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    • 141 8  -  D W Distant Dear Sir I could not agree more with the claims of unit trust managers that they assume on behalf of the investor all the hassles involved in deciding what shares to buy or sell and when to do so. However, completing the application
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  • Page 8 Advertisements
    • 44 8 BT welcomes letters from rMdtra. Your letters must includo your signature, full nam*, address, and homo and offlc* telephone numbers, if any. You may add a pseudonym, if you wish. Address your lottors to: The Editor, Business Times, 390, Kim Seng Road, Singapore 0923.
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  • Page 8 Miscellaneous
    • 764 8 CRYPTIC PUZZLE ACROSS 8 Reading through The Wanderings of Saul (7) 9 Money made from curtains? (3, 6) 13 As an Arab, having double the excuse (5) 14 Darn! There goes the whistle! (5) 15 Bouncing the tennis ball through nervousness (7) 16 Faint as you hand round (4, 3)
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    • 30 8 BriStcwrßanlclltckere FODGG IS ON HOUPAy THIS OJG&.K SO I'LL S£T POV cxocx: PCCQgp^Gu/... ©Evening Standard Co.Ltd ,19C?-1 it cqn't be half fVvsT TeM Uw g (£7=^ 'OtT ihs. l, nrnnP9
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  • Executive Lifestyle
    • 166 9 ANNOUNCEMENT to stock exchange from Hong Fok Corporation: "Please be informed that Forever Construction has been voluntarily wound-up by the members of the company." IF SCHOOL TEACHERS considered themselves lucky to receive flowers on Teachers' Day earlier this week, perhaps the children who give them are
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    • 275 9 TRENDS Reuter FUTURE HOMEMAKERS of America is a group known for grooming girls into ladies. One of its brightest stars is 183 cm tall, weighs 88.4 kg, plays Gridiron football and can't cook. "I'm liberated," says 17-year old Tom Lucaa, "but I don't like to cook." Lucas has
      Reuter  -  275 words
    • 861 9  -  MARTIN SOONG JESSICA LANGE and an exceedingly generous woman, with other peoples' money, inspired this article. Lange is the dishwaterblonde movie actress. She acted two-bit off-the-shoulder roles in less memorable movies such as Dino de Laurentis' 1979 King Kong, and followed that up
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    • 1809 9  -  By MONICA GWEE ITS ACTUALLY very rude to watch," Fiaz Hamid warned as he donned his white laboratory coat. The room we found ourselves in was amazing. Piles and piles of tea packets, rows upon rows of small, shiny green tins
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    • Executive Lifestyle: Entertainment, the Arts & Pursuits
      • 898 10  -  health By RICHARD SEAH THE JAM-PACKED HALL of the World Trade Centre is not exactly a healthy place to spend this weekend. Too much time in there with the crowds can make a person feel giddy. But I'll be there for the
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      • 455 10 SHORT TAKES IS YOUR dog looking a little drab, out of faahion, afraid to be seen in the same old coat by trendier canines? Lisa Gilford has just the thing for well-heeled dog owners: diamond-studded necklaces, chic evening gowns and canine cologne. Soap opera star Eileen
        455 words
    • Executive Lifestyle: Entertainment & Pursuits
      • 475 11  -  FOOD By THE FOOD TEAM SOME FIFTEEN gaily decorated stalls at the Mandarin Hotel herald a dream come true for the Asian-food enthusiast. Chicken, pork, prawns, fish, mutton, beef and noodles cooked in every way imaginable and honouring almost as many religions is being served up there
        475 words
      • 340 11 EVER SINCE the New Orleans Restaurant went casual, the food and its presentation have also slipped into an easier, more carefree mood. The Creole seafood specialities are still available, but the restaurants executive lunch buffet, now on, is a spirited sampling of creative food well worth
        340 words
      • 308 11 ART POLAND as you haven't seen it is now on show in Singapore at the Hyatt Regency Hotel. This first exhibition of Polish art offers 30-odd paintings, tapestries and mouth-blown glass sculptures and is open for three days. Among the varied treatments on canvas are four
        308 words
      • 732 11 CINEMA: Thrum Crazy Babyslttars starring Roland Giraud, Michel Boujenah and Andre Dussollier. Showing at Lido. Matters of tha Unlvaraa starring Dolph Lundgren and Frank Langella. Showing at Cathay: 11; 1.30; 4; 6.30; 9. Central 10.30; 1; 3; 7.30; 9.30, Golden Sultan: 1.30; 4; 6.30; 9, Bedok: 11; 1.30; 4;
        732 words
      • 638 11  -  CINEMA By JAIME LYE WHITE-COATED conformism gets a resounding whack in Something Wild a fun, lively and intelligent movie about what happens to a stuffy executive when he takes Karl Maiden too seriously. Jeff Daniels is Charlie Driggs, a newly-promoted company vice-president who abides by the
        638 words
      • 335 11  -  by Jaime Lye THERE IS very little you can do when watching Maatera of the Universe except forget to be an adult. It's every bit like the cartoon you never admit to watching on television silly, naive, a marginally exciting plot, loads
        335 words
      • 636 11  -  THEATRE By WALTON MORAIS FOR THE FIRST TIME in a long, long while, I went to the theatre, had a good time and left without feeling that the whole evening had been one big pretentious attempt. The ST'ARS production of From One to Midnight
        636 words
    • Executive Lifestyle: Sports
      • 482 12  -  WATER SKIING By CHERRIE HOLDER BE IT WITH THE GRACE ol the tricks event or the raw guts of the jumps, the men who worked best at Kallang Basin yesterday were the men from Down Under. The opening day of the Singapore
        482 words
      • 507 12 TENNIS NYT THERE WERE a lot of nods and knowing glances around the National Tennis Center in New York on Thursday. Everyone from Arthur Ashe to the vendor hawking Italian ices had apparently anticipated the quick and unceremonious demise of Pat Cash, the
        NYT  -  507 words
      • 170 12 SQUASH AFP NEW ZEALANDER Stuart Davenport and England's Gawain Briars are facing the axe as president and chairman of the International Squash Players' Association. The world No 3 and No 13 are in the dock for playing in the South African Open in July,
        AFP  -  170 words
      • 103 12 CRICKET AFP INDIA'S international cricketers will earn a 1,000-rupee (US$76) bonus from an electronics firm for every six they hit or wicket they take during the World Cup scheduled to begin on Oct 9, the company said on Thursday. Bush India Ltd has also promised Indian batsmen
        AFP  -  103 words
      • 621 12  -  BRIDGE By MIKE THUMBA IN DISCUSSING some of the popular conventions, it may be useful to recall the basic objective of using such conventions. That is. in response to one no-trump opening, this transfer bid would enable the strong hand to be concealed and
        621 words
      • 653 12  -  RACING on TMCK with Brian Miller WITH A MIXED BAG of Class 4 and 5 runners lining up for this weekend's races in Ipoh, it's going to be difficult cashing in on the "napshots". But the small punter could do himself a
        653 words
      • 501 12 ATHLETICS UPI TWO THOUSAND years ago, the thunder and lightning that crashed across the Roman skies on Thursday night would have convinced the ancients that the gods were angry. But the raging storm that was centred above Olympic Stadium just made for conditions eerily
        UPI  -  501 words
      • 291 12 AP IF A MODERN MYRON were chiselling "The Discus Thrower", Wolfgang Schmidt would be a perfect model. Schmidt, a former world re-cord-holder, European champion and Olympic silver medalist in 1976. is considered one of the best technical throwers ever in this event that
        AP  -  291 words
    • Executive Lifestyle: Personal Investment
      • 635 13  -  STOCKS BEanws^ ■by Rosie Tan ONE OF THE first things that an investor in the stockmarket may discover is that seemingly logical behaviour is almost always the wrong behaviour. The astute investor, ironically, often makes money by being illogical, while his more logical counterpart
        635 words
      • 1138 13  -  Keeping track: warrants By PATRICIA M SCHERSCHEL IF YOU'RE BEFUDOLED by those newly-listed warrants for shares in City Developments Ltd, you're not alone. Brokers report that a lot of customers who acquired these stock-purchase options when they subscribed to a bond
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      • 1158 13  -  STOCK EXCHANGE OF SINGAPORE By ROSIE TAN THIS MONDAY, investors will start using a brand new set of rules for the delivery and settlement of shares traded in Singapore. Many readers are wondering just how the changes will affect
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      • 617 13  -  FUND MANAGEMENT By CORRINA LIM JAPANESE FUND managers are bullish about prospects of the Singapore stock market and they have just started to invest here, according to Mr Nelson Kam, senior investment analyst at Singapore Nomura Merchant Banking. He said Japanese fund managers are
        617 words
      • 449 13 ART Sotheby's Research Department ENGLISH furniture enjoyed an extremely successful season. Aside from Impressionist and modern paintings, this market has experienced the highest percentage increase of any sector in the Sotheby's Art Index, showing a gain of 32.9 per cent over the season. One of
        Sotheby's Research Department  -  449 words
      • 316 13  -  MAGAZINES By CHARLES SAVAGE THREE FORCES the growth of the middle class, new investment opportunities for CPF funds, and the general bullish sentiment of the local stock market are creating a record number of potential investors with a large pool of money
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  • Page 9 Advertisements
    • 23 9 The American Express* Card can usually be replaced within 24 hours or the next business day. Call us at 732 2244. Here tomorrow
      23 words
    • 105 9 The Hour Glass premier watch boutique with the largest range of watches in these 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. L*t\\ t
      105 words

  • Page 10 Miscellaneous
    • 2698 10 Movies Chaplin, Joplin and Cinderella Four vintage comedies from Charlie Chaptin's peak period are featured in the Charlle Chaplin Carnival. Behind The Screen is the best one. folby The The Count and The Firemen. All the four stories were jk W produced and di- Bl rected by Chaplin (right) himself.
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  • STOCK EXCHANGE OF SINGAPORE
    • 4251 14 SELECTED local blue chips enjoyed double-dig-it gains as bargain-hunt-ing and short-covering helped share prices rise on a broad front in moderate trading yesterday. Malaysian stocks dominated the most actives list while local blue chips featured in the top gainers' list. Brokers said there
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    • 5101 14 SECTION ONE MDOS TRIAL COMMERCIAL Acma 0 26 SI Ml 2.23 OS 232 01 229 III 2.26 IS 2 X I6S 2 32 113 2 33 Ol 2 35 0) 2 31 0) 2 34 (S 227 IIO 226 (81 2X 01 229 IS 226
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    • 248 14 Rises DIS 1620 Not Iron 800 Caratoo* 50* 715 Maw 700 A«tmo 20« 540 s r H 10*0 OCIC 1030 Waomai *55 lnd<capa *45 ICS *40 How Par 630 N S 1 *10 Falls Fadarol Hour 510 Sal Caaa—H 191 Matro Hht«f 1250 le*MM Maio 1050 HWgt
      248 words

  • COMPANY NEWS
    • 396 15 INDUSTRIAL Commercial Bank has managed a 10.8 per cent rise in group net profits to $3.61 million in this year's first-half against $3.26 million in the previous corresponding period. The recovery comes as a relief especially since the group
      396 words
    • 247 15 CONSTRUCTION GROUP Lum Chang Holdings Ltd has acquired a yard in Tanjung Rhu from the liquidators of Vosper Pte Ltd for $15 million. Lum Chang says in-principle approval hss been given for the yard to be redeveloped into a residential project. Mr
      247 words
    • 628 15  -  By NAJEEB JARHOM FIRST CAPITAL Corp has received financing proposals from three banks for amounts ranging from $25 million to $45 million for the company's $101 million purchase of The Promenade. These loan proposals, to be secured in each case
      628 words
    • 518 15 MBT THE KUOK GROUP, which bought a 30 per cent stake in Pan Malaysia Rubber Industries (PMRI) in July, now has two of its representatives on the board of PMRI and three of its operating associate companies. Executive director of Malayan United Industries (MUl)'s manufacturing
      MBT  -  518 words
    • 271 15 Bernama ES MBf HOLDINGS Bhd, which suffered a pre-tax loss of more than Ms3B million in the last financial year, has decided to transform itself into a group with manufacturing, plantation and property interests. Chairman Tunku Abdullah Tuanku Abdul Rahman said in his
      Bernama ES  -  271 words
    • 4236 15 SOME LAST-MINUTE covering and bargain-hunting activities helped prop up share prices at the Kuala Lumpur stock market yesterday. Most counters recovered some lost ground after going through four successive sessions of bearish trading. However, the market finished mixed in spite of buying support at lower
      4,236 words
    • 136 15 ALEXANDRA HOLDINGS Berhad: AGM at 255 Alexandra Road, Singapore 0315 on Saturday, Sep 12, at noon. ROXY ELECTRIC INDUSTRIES (MALAYSIA) Bertiad: 19th AGM at Ming Crystal Ballroom, 1st Floor. Ming Court Hotel, Jalan Ampang, Kuala Lumpur on Monday, Sep 14, at 11am. MALAYSIAN ASSURANCE ALLIANCE Berhad: 18th AGM
      136 words
    • 270 15 L Manogerj' prices (J) for Sep 5 7 DBS Bank 216 153 221 IS Singapore Unit Trust Shenton Gr hod Jopan Gr fund Commerce 121 1 28 Shenton Thrift fund 100 100 Tt» So«>ngs hnd S port trog fund 107 oso 1.14 054 (JOB Management S'pore Sk Fund
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  • Page 15 Advertisements
    • 184 15 MAYTAI HOLDINGS PTE LTD (In Members' Voluntary Liquidation) NOTICE OF FINAL GENERAL MEETING (Pursuant to Section 308(1)) NOTICE IS HEREBY GIVEN in pursuance to Section 308 (1) of the Companies Act, Cap. 50, that a general meeting of the abovenamed company will be held at 9 Penang Road #10-07 Supreme
      184 words
    • 347 15 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. SO AND IN THE MATTER OF WEICHI INVESTMENTS PTE LTD NOTICE OF SPECIAL RESOLUTION FOR MEMBERS' VOLUNTARY WINDING-UP (Pursuant to Section 290) At an Extraordinary General Meeting of the Members of the abovenamed company, duly convened and held at 190 Middle
      347 words

  • 518 16  -  Success of major stores shows that the industry has come of age By GENEVIEVE CUA MAJOR RETAILERS should look beyond the local market and venture overseas. Not only will this move increase their competitive edge, it will set them on the road to
    518 words
  • 551 16  -  By LIM SOON NEO THE HOTEL INDUSTRY is optimistic that 1987 will be a better year in terms of average occupancy following a fairly good first half and expectations of a better period ahead. Revenues, however, are unlikely to rebound as
    551 words
  • 178 16 Reuter AN UNIDENTIFIED missile hit the southern coast of Kuwait early yesterday as attention focused on UN efforts to bring the Gulf war to an end. A Kuwaiti Defence Ministry statement said that a long-range missile had struck the coast south of Kuwait city but
    Reuter  -  178 words
  • 489 16 Reuter PRESIDENT Corazon Aquino said yesterday that democracy had taken one step forward and two steps back since she had taken power in the Philippines but vowed to continue fighting for her ideals. Ringed by tight security, the embattled leader visited military
    Reuter  -  489 words
  • 307 16 Reuter LEADERS of 15,000 striking South Korean shipyard workers said yesterday that they would continue their protest for higher pay for a year or more if necessary but promised to end violence. Riot police earlier yesterday stormed the yard
    Reuter  -  307 words
  • 89 16 Reuter COMEX GOLD futures hovered unchanged in quiet early dealings yesterday ahead of a long holiday weekend. Oecember gold held around Thursday night's close of U*****.70 an ounce after setting a high/low range of U*****.70/470.70. Analysts said the continued tension in the Middle East Gulf appeared to be
    Reuter  -  89 words
  • 85 16 AP THE NEW YORK stock market gave ground again in early trading yesterday, faced with new interest-rate increases. The Dow Jones Industrial Average dropped 7.49 points to 2,592.00 in the first hour of trading. Gainers and losers were evenly balanced in the overall tally, with 493 up,
    AP  -  85 words
  • 177 16 Reuter THAILAND'S Parliament approved a growth-oriented budget yesterday after a two-day debate enlivened by a row over a government plan to buy five helicopters for the Royal family and cabinet ministers. Parliament officials said that the Lower House, in which the coalition of Prime Minister Prem
    Reuter  -  177 words
  • 187 16 Reuter JAPAN tightened controls on exports of technology to communist countries yesterday to help prevent a recurrence of the recent Toshiba scandal. The move was immediately welcomed in Japanese business circles, but securities analysts said that the changes might not be enough
    Reuter  -  187 words
  • LATE FILE
    • 61 16 Reuter THE MALAYSIAN police have identified a car used in arson attacks on five moeques in Pahang State and may make arrests soon. Deputy Home Affairs Minister Datuk Megat Junid Megat Ayob told reporters in Kuala Lumpur yesterday that witnesses had seen the car, with
      Reuter  -  61 words
    • 59 16 Reuter THE US CIVILIAN unemployment rate in August remained unchanged from July at 6 per cent, the labour department said yesterday. The jobless rate remains at its lowest level since December 1979 when it was also at 6 per cent and confirms that the economy continues
      Reuter  -  59 words
    • 70 16 Reuter MAJOR TEXTILE-exporting countries yesterday condemned propoeed US import curbs aa a threat to their economic development and the world trading system. After a four-day meeting in Macao of the International Textiles and Clothing Bureau, which represents textile exporters, they said a bill proposed by the
      Reuter  -  70 words
    • 70 16 Bernama AN ECONOMIC expert from the US, Dr Richard L Drobnick from the University of Southern California, feels that Malaysia should step up intra-Asean trade becauee he says the country will find it difficult to penetrate the US market in future. He said
      Bernama  -  70 words
    • 80 16 Reuter INDUSTRIAL leaders from Taiwan and South Korea agreed yesterdsy to buy more from each other and less from Japan to help reduce their trade deficits with Tokyo. Delegates to a conference on Taiwanese-Koresn economic cooperstion said the strong yen had increaaed the two
      Reuter  -  80 words
    • 55 16 AFP INDONESIAN Foreign Minister Mochtar Kusumaatmadja said yesterday that the position of Cambodian resistance leader Prince Norodom Sihanouk had become stronger after a meeting this week with Chinese leaders in Beijing. "Prince Sihanouk came out smelling like a rose from Beijing," Mr Mochtar told a weekly
      AFP  -  55 words
    • 59 16 Reuter AUSTRALIA'S richest coal region is idle after 12.000 miners went on strike yesterday, union officials said. Miners in the Hunter Valley of New South Wales voted to strike for at least 10 days to support 300 colleagues sacked for refusing a longer working day,
      Reuter  -  59 words
  • Page 16 Advertisements
    • 79 16 IF YOU WANT TO KNOW l i V V 1 w; ntess^fi rjfl nesW°? s-sss-* > I ua dU» ona ,A i i ,v< f. Bl «r -T 01 «a «2V crr» cr* *~v.\ a war -r/?» trs^jss^ m l «V« B It's for p rope rtyh rgK-fl ier s
      79 words
    • 173 16 The University of Melbourne Graduate School of Manaqamant MBA Applications are invited for admission to the 1968 MBA program. This is a two year full-time program commencing in March 1968 and is offered on a full fee-paying basis to overseas students. Applicants should have a university degree and at least
      173 words