The Business Times, 21 May 1988

Total Pages: 18
1 18 The Business Times
  • 15 1 BUSINESS TIMES MCI (P) 95/12/87 C Weekend Edition, May 21-22 1988 J u~ 75 CENTS
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  • 262 1 AFP Dow Jones up THE NEW YORK stock market advanced in moderate trading early yesterday, extending Thursday's rebound, as Wall Street drew some reassurance from the latest news on inflation. The Dow Jones Industrial Average was up 2.16 points at 1,960.88 at 10.30am. Gaining issues outnumbered losers
    AFP  -  262 words
  • 401 1  -  By BOEY KIT YIN A "JAPANESE FACTOR" sent rubber prices spiralling upwards in frenzied trading yesterday afternoon, closing at a seven-year high of 552.66 per kilogramme. The local market had opened to quiet trading in the morning but sharp increases in the
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  • 151 1 THE AUSTRALIAN dollar yesterday breached its 39-month-old resistance level of US$O.7B, with dealers in Sydney expecting the Aussie currency to touch US$O.BO in the coming week. But the Australian central bank sold its own currency on the foreign exchanges in Sydney. Singapore and Hongkong yesterday, in
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  • 151 1 IN SPITE OF a slight rebound on Wall Street on Thursday and a higher Tokyo stock market, regional markets yesterday saw cautious price movements in mixed trading. Share prices in the Singapore stock market closed slightly higher after a day of alternate bargain-hunting and profit-taking
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  • 256 1  -  By CHUANG PECK MING BOON YOON CHIANG, the local chairman of Jardine Matheson Holdings (S) Ltd, is tipped to be the first non-European to head the Singapore International Chamber of Commerce, which will hold its annual general meeting next Friday. The 53-year-old Mr
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  • 503 1  -  AFTER-TAX PROFIT UP 33.6 pc By LISA LEE FAR FROM RESTING on its laurels, international highflyer Singapore Airlines has again outperformed market expectations with a 33 6-per-cent growth in group after-tax profit to $602.6 million. SlA's long-awaited financial results for the year ended March
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  • 234 1 AFP AP CONSUMER PRICES in the US rose by 0.4 per cent in April, down slightly from the March rate of 0.5 per cent, but high enough to fuel concern over increased inflation, the government said. Clothing and energy prices were up
    AFP; AP  -  234 words
  • Page 1 Advertisements
    • 288 1 Nikon 7fc* World mm PbotofpfspMc Sftfwn )):;${@}(<*:!]]?_{$%-^&+:{!*,!' Full report, Page 14 Regional markets, Page 16 World markets, Page 17 J J WHETHER IT'S the woman giving the man the wrong idea or vice versa is a moot point. But frankly, it is more important for people to marry, and know
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    • 184 1 Nikon a Winning East-West pairings Page 7 PtntMi Trivia Oh, please, lend me your ears Page 7 Fart International dishes for that special occasion Page Hum I Stay healthy by helping others stay healthy Page 0 TV programmes for today and tomorrow Page 10 Stats la Watck {Gaslight nostalgia and
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  • HOME NEWS
    • 423 2  -  By TONG SUIT CHEE TO ENCOURAGE research in the construction industry, the Construction Industry Development Board (CIDB) has set up a new funding scheme for contractors and building material manufacturers. Under a special arrangement with the Economic Development Board. CIDB will provide
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    • 497 2  -  By LIM SOON NEO SINGAPORE AIRLINES, Cathay Pacific and Thai Airways, which are going ahead with an Asia-Pacific computerised reservation system (CRS) known as Abacus, have registered a new company, Abacus Distribution Systems Pte Ltd. Meanwhile. Qantas and Japan Air Lines, which were originally
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    • 439 2 EIGHT SINGAPORE companies which participated in the 18th Osaka International Trade Fair last month have secured orders worth at least $550,000, with more to come in the next six months. Follow-up business of about $1.7 million is expected from interested Japanese
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    • 325 2  -  By TAN KEE WEE SINGAPORE and Australia only "pretend to be liberal while in fact they are protectionist", said Mr Rene Lapautre, the chairman of French airline UTA. According to reports from Paris, Mr Lapautre told a press conference on Wednesday that although Singapore Airlines
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    • 167 2 SINGAPORE AIRLINES' highly reputed inflight service and its excellent meals helped the airline maintain its popularity with Japanese travellers, according to a Japanese travel magazine, AB-road. The results of the magazine s annual survey showed for the second consecutive year that SIA
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    • 110 2 LOCAL FASHION buyers and designers can get a sneak preview of Austria's 1989 fashion products next week Austria Style '89 will have 18 companies display Austrian fabrics, embroideries, home furnishing materials and fashion accessories. Costume jewellery will be a big draw at the
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    • 98 2 JUDGING BY this year's record number of participants, the Singapore International Dragon Boat race is indeed getting more popular. The race on June 19 will have 14 world teams taking part, plus two Singapore teams. Last year, only nine teams took part. The participants
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    • 220 2 WESTERN DIGITAL (S) Re Ltd yesterday became the first local company to buy Digital Equipment Corps newly announced VAX 8010 system. In what is considered one of the major tripartite agreements of the year, Western Digital Singapore will pay $2 million to DEC and ASK
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    • 270 2 BILL HOOK has been promoted to senior vice-president of Crosby Associates International Inc. Mr Hook, who will be based in Singapore, also holds the posts of president and chief operating officer of the company's subsidiary, Crosby Associates Asia-Pacific. Before joining Crosby Associates, he was with IBM for
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  • 1461 2 AT CONVENTIONAL WHARVES Inmowo JI2 alongside 2105/1000 Mekor Indoh J2 alongside 21 05'2359 V*SMl Berth Arrival Departure Rizcun Troder Shongrilo 14 Jl alongside olongside 21 05 0200 21 05 0800 KEPPEL WHARVES Aulio Seroya Jl 21 *****0 *****300 Apmon I KI8 alongside 2105 0600 Cotoirtbrca II J6
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  • Page 2 Advertisements
    • 150 2 9m n m Treat your family to a sumptuous Chao Zhou provincial meal at the Chao Zhou Garden Restaurant. Ask for our special set menu ranging from $28+ for 2 persons, $55 for 4-5 persons or $88 for 6-8 persons. A delectable choice of Chao Zhou dian xin are also
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    • 10 2 WORLDWIDE EXPRESS Prompt pick-up and delivery 24 hours a day
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  • Page 2 Miscellaneous
    • 180 2 1 ik Max/ Not* Min (°C) 17/13 Rain 14/07 Cloudy 30/17 Clear 33/27 Clear 33/26 Cloudy 30/25 Cloudy 27/17 Clear 32/22 Sunny 26/12 Clear 15/12 Cloudy 27/23 Cloudy 15/02 Cloudy 23/09 Rain 13/05 Cloudy 18/09 Clear 39/20 Clear IS/02 Cloudy 14/05 Rain 29/23 Cloudy 21/04 Cloudy 14/06 Cloudy 32/26 Fin*
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  • OVERSEAS
    • 209 3 AP A PHILIPPINE lawmaker has criticised two US senators for allegedly pressuring President Corazon Aquino to reconsider a national pharmaceutical policy because it might jeopardise American investments Sen Joseph Estrada on Thursday released a copy of a letter sent last February to Mrs Aquino
      AP  -  209 words
    • 319 3 IHT THE MINISTRY of International Trade and Industry intends to abolish a seven-year-old ruling next April by which»it "voluntarily" limits Japanese car exports to the United States, according to news reports in Tokyo on Thursday. The reported decision, which
      IHT  -  319 words
    • 79 3 AFP WEST GERMAN Economics Minister Martin Bangemann announced on Thursday that he planned to resign and take up a position with the EC Commission in Brussels. He is also resigning as chairman of the Liberal Party, the junior partner in the Bonn coalition government. Mr
      AFP  -  79 words
    • 909 3 ARRIVALS Operator Service Local From number time SIA SQ23 0755 AMS/BOM MAS MH640 0820 KUL SV SV398 0835 JED/RUH KAl KE624 0840 KUL SIA SQ417 0845 DXB/KHI MAS MH651 0910 PEN MAS MH607 0920 KUL AC AC888 0925 YYZ/IHR/BOM SIA SQ103 0950 KUL CAL C1806 1000 CGK
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    • 113 3 Reuter THE NUMBER of unemployed in Britain fell in April by 49,000 to 2.455,000, the lowest figure since 1981, according to government figures released on Thursday. Provisional figures adjusted to allow for seasonal fluctuations in the economy showed April unemployment running at 8.8 per
      Reuter  -  113 words
    • 254 3 AP A US congressional subcommittee is trying to determine if the US$6.5 million Northrop Corp invested in a hotel project in Korea was actually intended to influence sales of the company's ill-fated F-20 jet fighter, a committee aide said on Thursday. A Northrop spokesman
      AP  -  254 words
    • 422 3 NO GROUNDS FOR COMPLACENCY, SAYS FINAL COMMUNIQUE Reuter MINISTERS of the 24-nation Organisation for Economic Cooperation and Development issued a final communique on Thursday at the end of their two-day annual conference in Paris. OECD members moved to paper over wide differences on economic and farm policies,
      Reuter  -  422 words
    • 75 3 Reuter THE US COMMERCE Department said the March trade deficit was US$B.l4 billion excluding insurance and freight, against February's U5512.26 billion. The trade deficit including insurance and freight costs was USs9.7sb in March, compared with February's USsl3.B3b. From January through March, the trade deficit excluding insurance and
      Reuter  -  75 words
    • 82 3 Reuter THE WHITE HOUSE said President Reagan's promised veto of a sweeping trade bill passed by Congress was not expected until next week Spokesman Marlin Fitzwater, asked when Mr Reagan would veto the bill, said "I don't expect it this week.'' Mr Reagan received
      Reuter  -  82 words
  • Page 3 Advertisements
    • 64 3 V I \l\ If Ili The business person's choice, every I I IL. II 111 I Tuesday, Thursday, Saturday ond I I 1 fI \l II I Sunday. Leaving Changi Airport at I Vy I \V y I 1 J 22 05 hours and arriving at Lester B Pearson International
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    • 208 3 v f r*k t£r S»** Let the Games begin! Davs are being ticked off in the countdown to the Olympics this September. The South Koreans are busily preparing themselves for international media attention. The world will judge what sort of medal South Korea should be awarded. In this week's issue
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  • Page 3 Miscellaneous
    • 73 3 Doonesbury UHfICT 001 THINK* I THINK THAPS EASILY THE MOSTLUPfCROUS IPEA YOU'VE EVER HAP. J r» r MICHAEL, TVE PECJPEPI WANT TO HAVE THIS BABY O&mVSLY. YOU KNOW, MAKE IT A PtECB J OF PERFORMANCE ART. IVHAT 1 00 YOU SEM s BY GARRY TRUDEAU lM sorry, thats NOT A
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  • MONEY AND EXCHANGES
    • 1688 4 SINGAPORE: The US dollar was steady against the yen yesterday but fell against the D-mark while sterling rose on some buying interest as operators wound down positions ahead of the weekend. Dealers said both the US and British currencies remained within narrow ranges as operators awaited the release
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    • 284 4 ASIAN DOLLAR deposit rates closed little changed yesterday compared with Thursday's levels after thin trading ahead ot the weekend and the release at 1230 GMT of US consumer prices index. Among short-dates, overnight eased 1/16 point to 7 6-7/8 per cent while week-fixed held steady at 7-3/16
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    • 172 4 Gold futures on May 19 100 troy ounces; US$ per troy ounce Opoti Low S«W« May 459.30 459.30 459.30 457.40 0.10 Jun Jul 462.00 462.30 458.00 458.20 0.10 460.30 0.10 Aug 465.00 466 00 461.30 461.50 -0.20 Oct 471.00 471.00 467.00 466.30 -0.20 OK 474.00 476.00 470.50
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    • 236 4 Reuter IMM currency futures settled a session of slow and listless trade narrowly mixed on Thursday. Many traders hugged the sidelines as the bearish impact of the narrower March US trade deficit dissipated and traders searched for solid fresh direction. A higher Commodity Research Bureau index lent mild support
      Reuter  -  236 words
    • 492 4 EURODOLLAR futures on the Simex opened unchanged yesterday from Chicago's close and traded narrowly as market participants awaited for the release of US consumer price data. However, rumours that the CPI would be lower than expectation prompted light short-covering which saw the September contract traded up from 91.84 to
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    • 1583 4 CURRENCY FUTURES OPTIONS Friday, May 20, 1988 DEUTSCHE MARK (SIMEX) Jun M calls Jun M puts High Low IM High Low l*« 54 CA8 55 CAI 56 CA8 57 CAI 58 99 5 59 23 23 23 29A 28 60 5 109 61 2 205 62 CAS 305 63
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  • Page 4 Advertisements
    • 168 4 Welcome to the new comforts of home There are changes in the air at Hotel Equatorial Kuala Lumpur. Most K(Q A important is the total make-over in MB our rooms and suites, now in a modern, contemporary style that charmingly Hlf comfortable. A new refreshing look greets you at lobby.
      168 words
    • 9 4 !li B4NQUEINDOSUEZ 3 Shenton Way, Shenton House, Singapore 0106
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  • BANKING AND FINANCE
    • 359 5 Reuter BRITISH BANKS should beware of personal borrowers becoming unable to pay their debts if economic circumstances change, the Bank of England said recently- Lending by banks to individuals, especially to buy houses, has been growing strongly over the past year, the
      Reuter  -  359 words
    • 182 5 Indicates IN average of the prima landing rates of 12 ma|or banks in S'poca Interbank market rates (offer/bid) on May 20 us$ DM SWFC Y«n 7 days 7 1/1-7 7 3/1* 3/1* 3 3/1* 1/1* J 1/4 2 4 1/4 l/t 1 m* 7 J/1* 3/1* 7
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    • 58 5 THE OVERNIGHT, one and two-month term rates were unchanged yesterday on the Singapore interbank market while the threemonth rose 1/16 point. S$ Interbank rates at 12 noon yester day: OfFft »I0 Ov«rnigM 3 3/4 3 1/2 1 -monrti 3 S/t 3 1/2 2-momh 3 5/8 3 1/2 3-momh
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    • 176 5 Reuter AMERICA'S Federal Savings and Loan Insurance Corp (FSLIC), which insures deposits at savings and loan institutions, is likely to be inadequate to solve the industry's severe problems, according to the Government Accounting Office (GAO). If Congress decides it must
      Reuter  -  176 words
    • 436 5  -  By SOH TIANG KENG SINGAPORE'S foreign reserves, the nation s stock of gold and foreign currencies, have crossed the $31 billion mark after a year of robust growth. Latest figures from the Monetary Authority of Singapore show that the Republic's foreign assets snowballed
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    • 340 5 Reuter WESTPAC BANKING Corps US$74O million rights issue will substantially strengthen the bank's capital base, making it well placed to meet any future capital adequacy changes by the Reserve Bank of Australia, according to managing director Stuart Fowler. The bank announced the one-for-four
      Reuter  -  340 words
    • 109 5 Reuter CHASE MANHATTAN Corp has said it is launching a Visa credit card in Britain with a view to securing several hundred thousand users over the next few years. Chase Manhattan said recently its credit card would offer lower interest rates than those charged
      Reuter  -  109 words
    • 83 5 Treasury bills Period Issue Yesterday's closing Day's code Maturity BID OFFER HIGH LOW 3 months BQ*****X 18.8.88 3.50 3.45 3.49 3.44 6 months BY*****H 22.9.88 3.60 3.55 3.58 3.58 1 year BY*****Z 23.3.89 3.72 3.67 Government notes and bonds Period Issue Maturity Coupon Yesterday's closing Day's code
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  • COMMODITIES
    • 391 5 MALAYSIAN CRUDE PALM OIL FUTURES were steadier at the close of trading on the Kuala Lumpur Commodity Exchange yesterday. Dealers said sentiment was bullish on the day's market re-opening de,iveries surged MS22 to M 5972 a tonne while July closed at Ms96o a tonne, up Ms2B from Monday.
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    • 312 5 HONGKONG: The metal closed higher in active trading yesterday, mainly on moderate shortcovering by Swiss and London investors. Bullion ended at U*****.00/40 an ounce, against an initial US$456 00/40 and compared with New York's close of US$455 50/456 00 On the local market, gold rose HK$2 to close
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    • 100 5 THE LIGHTER HALF of the crude barrel showed a continued stable to firm trend yesterday while the bottom half wallowed in what looked to be the beginning of a price slide. Closing prices for crude (FOB origin) USI/borrrt Oongo Topis (Mar) 17.00 unc* Minot (May) 16.36 «d»
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    • 112 5 SOYBEAN FUTURES on the Chicago Board of Trade fell sharply late on Thursday after fluctuating near the 30-US cent a bushel limit gain for most of the day and posting new contract highs. Prices closed on or near session lows from off cent to 2% cents a bushel in
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    • 108 5 WHEAT FUTURES on the Chicago Board of Trade closed on Thursday with > pared gains of 11% to 8% US cents a bushel after hit- > ting new contract highs and advancing near the 20-cent a bushel limit early in the session. > July settled 10% cents < higher
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    • 313 5 London Commodity Exchange Buyer/Seller dosing prices on May 19 (£/tonne unless specified). Previous closing prices in parenthesis. Coffee Basis in-stof« London, option CIF London May 1067/1070 (1078/1080) High/Low 1075/1061 Jul 1084/1085 (1092/1093) High/Low 1092/1076 Sales (4401) May 935/939 (907/912) High/Low 936/923 Jul 955/956 (925/926) High/low 958/935 Soles (8302
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    • 269 5 SINGAPORE The market closed sharply higher yesterday with June One RSS buyers quoted at 266.00 cents a kg. up seven cents from Thursday's close. Prices were marked slightly lower at the open- ing and thereafter fluctuated narrowly in quiet trading as most operators stayed at the sidelines due to
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    • 278 5 RAS prices in S cents/kg, FOB in bat* NOON CLOSE Buyers Sellers Buyers Sellers Int 1 RSS Prompt 261.50 262.50N 268.00 269.00N Int 1 RSS June 88 259.50 260.5ON 266.00 268.00 Int 1 RSS July 261.50 262.50 268.00 270.00 Int 2 RSS OP 257.50 259.50N 264.00 266.00N
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    • 76 5 (eanfi/kg) JUNE 1988 JULY 1988 (current month) (forward month) RAS NOON NOON S«M*rs Bvy*n S«ll«ri Kl 30 334.00 236.00N 334.00 336.00N 3S* SO 333.50 334.50N 333.50 334.50N jMRELB Buy*ri S*H*rs Bvy*ri Salter* SMI cv 456.00 458.00N 457.00 459.00N SM* I 458.00 460.00N 459.00 441.00N SMI 5 330.00
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    • 156 5 THE PRICE of tin on the KLTM yesterday rose seven cents from Monday to close at M 517.50 a kg on renewed interest after a long market cloeure. Strong short-covering was noted from Europe and Japan, with bids totalling 251 tonnes at the start of the market. But
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    • 241 5 Chinese Produce Closing prices on May 20 Exchange (USS/tonne, FOB) Sellers' noon closing prices on White Rice May 20 (S$/100 kg) 100% 1st doss 350 Coconut oil 100% 2nd dass 100% 3rd dasj 315 310 Bulk FOB 107.00 5% 300 Old drum FOB 117.00 10% 295 New drum
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  • PERSPECTIVE
    • 553 6 A RECENT ADVERTISEMENT in the women's magazine Her World asked financially-independent career women whether men found their self-sufficiency intimidating. The advertisement suggested that such women could try to be more approachable so as not to "give men the wrong idea". A career woman in her mid-30s
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    • 1417 6  -  Eighteen months after its launch, The Independent newspaper is already profitable. MONICA GWEE traces the newspaper's own story with its editor and chief executive, Andreas Whittam Smith, at the recent lAA World Advertising Congress in Sydney MONICA GWEE TELEVISION gave the British public
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    • 240 6  -  letters to the Editor Wang Look Fung (Miss) Dear Sir We refer to the letter by Keppel Shareholder' published in BT on May 14, on the Ocean Towers project. The total project cost of Ocean Towers is estimated to be $150 million. This
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    • 185 6  -  Derrick J Coupland Dear Sir Amidst all the debate over the value of the pound sterling, would the British ministers and captains of industry concerned please spare a thought for pensioners living overseas on United Kingdom-based pensions? I paid into a contributory pension scheme
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    • 669 6 NO COMMITMENT to anybody or any institution may sound like a recipe for anarchy in Asia's press environment, but the editor and chief executive of The Independent newspaper in the UK stoutly upholds the belief that a newspaper should publish and be damned. Financial
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  • Page 6 Advertisements
  • Page 6 Miscellaneous
    • 782 6 CRYPTIC PUZZLE ACROSS 9 Are involved in a strike when you leave (5, 3) 10 It's spring sun, father (3) 11 She is a murder victim (6) 12 Meaning non-domestic' (6) 13 The fruit, vegetables and half the cheese will go inside (7) 14 A wood in Kent (4) 15
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  • Executive Lifestyle
    • 287 7 'SOMEONE complained in the [•press recently about men women's public toi- lets. Rather than change jobs. cleaners at one shopping instead altered the -sign normally hung outside toilet doors during cleaning. With hand-written additions. the sign now reads: "No entry .whatsoever. Enter at your own risk.
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    • 747 7  -  piA4 TVvi/^ With MONICA GWEE I USED to think it had something to do with my height, or the lack of it. Perhaps, when you only reach most people s arm-pits, they have a hard time hearing you. But when the apparent hearing problem
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    • 2385 7  -  By N K Y FINE WINE really cries out to be drunk with food even if drinking it on its own is the usual form. But good wine and food go together and successfully matching the two is
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    • Executive Lifestyle: Entertainment & Pursuits
      • 678 8 FOOD By THE FOOD TEAM THE APPETISER was on page 218. The main courses, two of them on one plate, appeared on pages 170 and 174. Desserts, again two offerings placed side by side, were from pages 196 and 315. The pages are not
        By THE FOOD TEAM  -  678 words
    • Executive Lifestyle: Entertainment, the Arts & Pursuits
      • 848 9  -  HEALTH By RICHARD SEAH "DOING GOOD is good for your health," American Health magazine proclaimed in a recent special report. If that statement had appeared in. say, a church newsletter, one might have shrugged it off because religious organisations are always telling us
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      • 543 9 TRENDS Reuter FLUSH WITH TIME and cash, the Japanese are flocking to ski slopes, beach clubs, tennis camps and marinas in swelling numbers and companies of every size and shape are leaping into the action. "A very large number of hitherto unrelated companies
        Reuter  -  543 words
    • Executive Lifestyle: Entertainment & the Arts
      • 550 10  -  BOOKS Truth leads Burgess to substitute autobiography 'for the novel that cannot be written'. The book makes fascinating reading. Here are the elements of art, religion, war, sex, love and life residing jn the genius of one souL The fascination lies primarily in these
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      • 480 10  -  THEATRE By CHARLES SAVAGE MURDER, suicide, and the passionate tale of a woman caught between her love for her husband and his best friend is the stuff of Hayavadana, one of this year's Festival Fringe drama offerings. To be staged by the Experimental Theatre Club, the
        480 words
      • 755 11  -  THE GREAT LONDON TO SYDNEY TAXI RIDE MUSIC By WALTON MORAIS IT BEGAN on a crazy whim during a walk through the Botanical Gardens in Sydney three years ago. But this August, Ned Kelly and Mad Dog Morgan, disguised as investment
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      • 756 11  -  By MARTIN SOONG CHOPSTICKS, as far as O' Donel Levy is concerned, just isn't the happening way to eat. So. in one uninterrupted motion, the Baltimore jazz guitarist delicately appropriates the fork and spoon from the next table, then gently up-ends the
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      • 788 11  -  by Walton Morais The song we just did is called Dark N Lovely It's about the oppressed people of South Africa if there's anything that I as Stevie Wonder can do with my music to make a change, I will And if that means my
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      • 818 11  -  Compiled by Sakina Dhilawala CINEMA: Wall Street starring Michael Douglas, Charlie Sheen, Daryl Hannah and Martin Sheen. Showing at Cathay: 10.30; 1.15; 4; 6.45; 9.30. Fatal Attract/on starring Michael Douglas, Glenn Close and Anne Archer. Showing at Lido: 11; 1.30; 4; 6.45; 9.15 and Changi; 11; 1.30; 4; 7;
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    • Executive Lifestyle: Sports
      • 551 12  -  GOLF By CHARLES SAVAGE POH EING CHONG carded another 71 yesterday for a five-stroke win in the BP Circuit monthly championship held at the par-72 Jurong County Club course. Poh, who had a rough first nine on the second day of
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      • 145 12 TENNIS SWEDEN, with only one qualifying match remaining, all but qualified for the World Team Cup final in Dusseldorf on Thursday when it took an unbeatable 2love lead over Spain in the Blue group. After non-stop rain had forced organisers to move
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      • 171 12 BASKETBALL ROLANDO BLACKMAN scored nine straight points in the fourth period on Thursday to lead the Dallas Mavericks into their first NBA Western Conference championship series with a 108-95 victory over the Denver Nuggets. Dallas, which beat the Nuggets four games to two in their
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      • 759 12  -  BADMINTON By SHIRISH NADKARNI BLOOD, TOIL, tears and sweat. The immortal words of Winston Churchill will be drummed up time and again as the world s top eight badminton nations prepare to lay down everything in their bids to capture the Thomas and Über Cups,
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      • 382 12 CRICKET MIKE GATTING hit an unbeaten 82 to pilot England to a six-wick-et victory over the West Indies on Thursday as the home side maintained its domination over the Caribbean tourists in oneday cricket. A packed Edgbaston saw England bowl out the
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      • 812 12  - Racing the sponsorship way TMCk With JEROME FANDOR THE NUMBER of racehorses has been falling for some time and professional racing has had to be "saved" with supplementary amateur races on three occasions this year. The way of the future may be sponsored races. Sponsorship injects money into the sport
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      • 445 12  -  By POHLA SMITH I'M STICKING with the filly to win the Preakness and praying for sunshine over the Pimlico race course today. It's not that I doubt the ability of Winning Colors to race on what could be the first off-track
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      • 570 12  -  By Mike Thumba LET US FIRST of all look at the process of bidding. During the course of bidding, you will be telling your partner your strength or even the lack of strength, and also what suits you hold. Your partner in term will
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    • Executive Lifestyle: Personal Investment
      • 590 13  -  WARRANTS Keeping trade... by i Ramesh Chandiramani A READER has written in to lament the lack of investor understanding on the usefulness of loan stock in relation to converting warrants and transferable subscription rights into new shares. The subject in point: Parkway
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      • 667 13 COMMODITIES NYT SOYBEANS have long been termed the invisible commodity, which consumers hardly ever see but which they use every day. In the esoteric world of commodity trading, however, soybeans have become highly visible. The reason: the price of the buff-coloured, pea-sized bean is rising
        NYT  -  667 words
      • 442 13 mm m urn by RC IT IS SAID that time is a great healer. No place more so than in the local stock market. Seven months have slipped by since the Crash of 87 rained losses everywhere. But rather than witness another big shakedown, investors are
        by RC; Source: Investamatic  -  442 words
      • 876 13  -  STOCKS By RAMESH CHANDIRAMANI WALL STREET has suffered several anxiety attacks in the past few weeks over concern about high interest rates and rising inflation. While the jitters have spread to other Western bourses, equity markets in the Pacific countries have in
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      • 738 13 NYT EVER SINCE the US stock market collapsed on Oct 19 last year, investors familiar with history have been waiting for the other shoe to drop. The bull market of the 1980s was so similar to the one in the 1920s
        NYT  -  738 words
      • 557 13  -  ART TRADE by Sotheby's Research Dept SOTHEBY'S index for Impressionist art and Modern paintings shot up 51 and 44 per cent respectively (or the week May 9-14 as a result of highly successful sales in New York. The sales showed the extent
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  • Page 7 Advertisements
    • 10 7 M onagers ust anage BT shows you how every Monday.
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    • 223 7 3 •> w t mi: Nll Dishes Wines /'< >1 l\" i ham/tayn> }'<■: 1 Chi rust l\(>(isi Ihu Salad < l\ah<>u! H'ini with Fresh l r in t Braised Superior Shark i h <!> I i,i; a! jp;>79 Sor/p Deep Oil frii-d Snnri /A»<7, /*V.s7; Fried Siallo/is //Vr// l\a
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  • Page 8 Advertisements
    • 828 8 4 CQURyoiSIER XO-Where to eat, drink... MALAYSIAN HIGH TEA ONLY S7.IKI++ X 9i V,i Try Something Malaysian Style "HIGH TEA" From three to six every afternoon your choice of 15 Buffet spread of delicious Kueh Lapis. Kueh Dadah, Met Siam, Kueh Kuchee, Agar Agar Gundil, Bubor Hitam, Gula Melaka and
      828 words
    • 129 8 French connection The culinary favourites of France are yours to enjoy from May 1 31. With Fines de Claires, Canard a I'Orange, Quiche Lorraine, Escargot au champignons, Coq au vin rouge. Crepes Suzette and more! Make the French connection for just Pnces subject to lOt service charge and 3 %guit
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  • Page 9 Advertisements
    • 471 9 and entertain 4 ONE GOOD REASON TO LUNCH AT THE PALM GRILL IS OUR APPETISER BUFFET \N( JTHKR IS THE CHOICE OF MAIN COURSES PALM r w For between $26++ and $40+ r~ I ou can se ect fr° m our appetiser UKILL buffet including seafood, smoked salmon and oysters.
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  • Page 10 Miscellaneous
    • 1647 10 SLOTS TO WATCH Gaslight nostalgia and Gorbachev's Russia Movies Steve McQueen, Bobby Darrin and Fess Parker star in Hell Is For Heroes, a 1962 flick about a group of battle-weary Gls who are sent to face a German fortified post across a minefield. As the rest of the platoon withdraws
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    • 1037 10 Saturday BBC 88.9 mHz in VHF Band II BAM World News 8.09 The World Today 6.2S A Letter from Northern Ireland. 6.30 Financial News 6.40 Reflections 6.45 Sports Roundup 7.00 World News 7.09 Commentary. 7.15 From the Weeklies 7.30 Multitrack 3. 8.00 World News 8.09 News about Britain. B.IS Radio
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  • Page 13 Advertisements
    • 150 13 BT welcomes investment ideas and viewpoints from brokers, bankers and other readers. Address all correspondence to: The Editor, Personal Investment, Business Times, 390 Kim Seng Road, Singapore 0923. APPOINTMENT G K GOH RESEARCH PTE LTD (a subsidiary of G K Goh (Stockbrokers) Pte Lid) invites applications for the post of
      150 words

  • STOCK EXCHANGE OF SINGAPORE
    • 4830 14 THE SHARE MARKET was dominated by selective trading yesterday with some counters edging up in line with the small rebounds in the New York and Tokyo markets. The Straits Times Industrial Index gained 0.95 points to 965.26 while the broader-based BT Composite Index gained
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  • Page 14 Advertisements

  • COMPANY NEWS
    • 245 15 THE GATEWAY PROJECT, stalled since December 1984, is targeted to restart by July and be completed in 19 months. This is, however, subject to the approvals of the authorities and the major sub-contractors, said an announcement yesterday by Singapore Land, parent company of
      245 words
    • COMPANY BRIEFS
      • 38 15 SIR Y K PAO's Wharf group acquired another 300,000 shares of Hotel Marco Polo at $1.18 each yesterday, raising its stake to 75.86 m shares or 49.8 pc of its issued capital.
        38 words
      • 45 15 DAYAPI INDUSTRIES (M) Bhd clarified that there were no rights, bonus and/or other issues of shares since the previous dividend was paid. The taxation charge includes a write-back of Msl.l7m deferred tax but does not include any adjustment in respect of prior years.
        45 words
    • 200 15 RETAILER ISETAN Company Ltd of Japan has incorporated a wholly-owned subsidiary in the Netherlands with the aim of expanding its Asian operations and initiating activities in Europe and other areas. The parent company has transferred its direct holdings in Isetan (S) Ltd
      200 words
    • 277 15 Monagers' prices for May 21 23 Jopon Gr Fund Shenton Thrift Fund 1 60 081 1 65* 081 Singapore Unit Trust UOB Management Umfund 0 846 0845 The Commerce 092 098* Unibond 1005 103 The Savings Fund 081 087 Spore frog Fund S pore Sec Fund 039 064
      277 words
    • 122 15 Company RIGHTS ISSUE U O I One-for-two $1.10 per shore with TSK Ex dote: Moy 23 Books close: Jun 3 Public Bonk One-for-two $0 80 per shore Ex date: May 25 Books dose: Jun 9 Company BONUS ISSUE Amcol One tor-ten Ex date: Moy 31 Books dose: Jun
      122 words
    • 385 15 Company RIGHTS ISSUE A M D B One-for-four JO 50 per shore C 1 Holdings 27 million loon stocks in the rotio of $3 loon stock for every five ordinory shores held City Dev One-for-five $1 50 per shore Duto Cons One-for one 'Sj $1 10 per share
      385 words
    • 3535 15 BID and offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets in lots of 1,000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "SETT".
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    • 166 15 BANDAR RAYA DEVELOPMENTS Berhad: 24th AGM at Ming 3 4 4. 1st Floor. Ming Court Hotel. Jalan Ampang. ***** Kuala Lumpur today at 10am UNITED OVERSEAS BANK Limited: 46th AGM at the Board Room. 30th Storey. UOB Building. No.1 Bonham Street. Raffles Place. Singapore 0104 today at noon
      166 words
    • 217 15 MBT MULPHA International Trading Corp is considering the sale of its stakes in its associate companies. The company holds stakes in Peladang Kimia (35 per cent), OVL-Condair Industries (30 per cent), Sama Wira Mulpha Industries (30 per cent) and Kelantan Baja Corp
      MBT  -  217 words
    • 359 15  -  Morgan Guaranty fails to get summary judgment in $18m claim By ELAINE KOH MORGAN GUARANTY Trust Co of New York will have to go to trial over $18 million which it is claiming from three guarantors of beleaguered coffee trader Teck Hock
      359 words
    • 322 15 Bernama ES ESSO MALAYSIA Bhd said the closure of its ammonia plant by the year-end will not have a major impact on its labour force or business results. The company decided to close the plant last year due to lack of sales
      Bernama ES  -  322 words
    • 305 15 MBT MAGNUM Corporation expects to launch the first phase of its township project in Kuala Lumpur next month, chairman Oh Bak Kim said in the company's latest annual report. The company's wholly-owned subsidiary Multi-Purpose Bersatu has a land bank
      MBT  -  305 words
  • Page 15 Advertisements
    • 454 15 APPOINTMENTS INVESTMENT ANALYSTS Swiss Bank Corporation (SBC) is a leading universal bank and one of the "Big Three" banks in Switzerland. It is one erf the select few banks whose long term debt is given a "AAA" credit rating. Swiss Bank Corporation Investment banking Ltd (SBCI) is the investment banking
      454 words

  • REGIONAL MARKETS
    • 571 16 "Investors mop up mutual funds AFP INTERNATIONAL securities and banking institutions have struck a bonanza promoting sales of mutual funds to Taiwan's cashrich investors, according to executives of foreign investment consultant firms in Taipei. On Monday alone, local investors bought US$3 mi Dion
      AFP  -  571 words
    • 43 16 Reuter ICI AUSTRALIA Ltd has taken an 11 per cent stake in venture capital company First MIC Ltd for A 52.7 million. Sources said First MIC had invested in 16 ventures in'medicine and services that fitted in with ICl's plans. Reuter
      Reuter  -  43 words
    • 2907 16 SHARE PRICES drifted lower on light late selling to close mixed to easier on the Kuala Lumpur stock market yesterday. Trading volume remained subdued as operators adopted a wait-and-see attitude. The focus was again on United Engineers Malaysia (UEM). On its second day of trading after
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    • 177 16 Reuter TAIWAN'S Securities Exchange Commission (SEC) said on Thursday that it had received 24 applications from local investors to set up new brokerage houses on the first day the government liberalised its securities market An SEC spokesman told a news conference in Taipei that all
      Reuter  -  177 words
    • 1523 16 Hongkong HONGKONG stocks closed easier yesterday but were off the day's low following moderate bargain-hunting by local institutions, brokers said. The Hang Seng Index finished off 15.52 at 2.491.24 after losing about 25 points in the morning session, and the Hong Kong Index was off 10.02 to
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    • 138 16 MAY 20 WON Kal ***** -300 Che>i Suqa' ***** unch I c o -T5 ***** 1000 Kia Motor ***** -400 Daei'm Ind ***** -400 Kolon Ind ***** -200 Daewoo Corp ***** '00 Korea Long Term ***** 800 Daewoo Heavy ***** 600 Lucky Ltd ***** -400 Daishm Secu *>e« *****
      138 words
    • 529 16 Reuter TOKYO share prices closed firmer yesterday on bargain-hunting, but early optimism stemming from an overnight rebound on Wall Street faded somewhat in the afternoon. "There was heavy dealer involvement in the morning, but the market has been up and back to around levels it was at on Thursday,"
      Reuter  -  529 words
    • 480 16 Reuter THE AUSTRALIAN share market closed strongly j higher yesterday in solid l turnover as investors puri sued quality stocks in all sectors, reversing Thurs- day's sell-off. brokers said. They noted that deimand centred on top mining and resource stocks in a delayed reaction to recent base metal price
      Reuter  -  480 words
    • 168 16 Reuter THE SECURITIES Exchange of Thailand Index fell 275 to 424 10 on a turnover of 4,246.368 shares worth 633.13 million baht. Reuter MAY 20 BAMT Ao Kham Thai 252 *2 Ayudhya Investment 406 unch Bangkok Agro-lnd 136 -1 Bangkok Bank 325 -2 Bank Ot Ayudhya 354 -2 Charoong
      Reuter  -  168 words
    • 297 16 MAY 20 NT »1Kolin 47 30 -02 Kuochan Dev Lee Chang Yuen 59 50 -1 All Sincere Indus 4 72 -002 Chem Indus 60 50 -1 5 Asia Cement 82 SO -2 Lien Hwa Indus 73 50 -2 Cathay Cons 107 00 Nan Ya Plas 81 00 -2 5
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    • 93 16 PESOS Marsteei MAY 20 -1Oriental B 0 045 -0 001 Acoie Mining Anglo Phil Apex Mining B Atlas Con B 0011 unch Phil Overseas Phi lex B 0 035 0 41 unch unch 0 038 23 50 0 001 0 5 Picop B PLOT 178 -1 Baguio Gold 0
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  • Page 16 Advertisements
    • 416 16 NOTICES INDEXES BUILDING PRODUCTS PTE LTD IN THE MATTER OF THE COMPANIES ACT, CAP 50 (In Voluntary Liquidation) At an Extraordinary General Meeting of the members of INDEXES BUILDING PRODUCTS PTE LTD duly convened and held at 10 Jalan Besar #10-05 Sim Lim Tower, Singapore 0820 on May 18, 1988,
      416 words

  • WORLD MARKETS
    • 1006 17 New York Reuter WALL STREET stocks closed mixed on Thursday, as blue chips staged a modest rally in late trading to finish slightly higher. Traders said the market was recovering from an oversold condition, and that some investors' inflation concerns were beginning to ease. The
      Reuter  -  1,006 words
    • 999 17 London Reuter LONDON shares opened higher across a broad range yesterday, largely because Wall Street on Thursday closed mixed, pulling out of the dive sparked by Tuesday's March US trade figures which many thought were inflationary, dealers said. While some of the recent fears about world and
      Reuter  -  999 words
    • 1320 17 Selected indices HONGKONG Hongkong Index Friday .645 52 Thursday 1 -655 54 Week ogo 1.673 45 All Industrials Friday Thursday Week ogo NEW YORK 2.337 3 2.323 9 2.2735 Hang Seng Index Friday 2.491 24 Thursday 2.506 76 Week ogo 2.532 63 Dow Jones Thursday Wednesday Week ogo 1 958
      1,320 words
    • 75 17 AFP NOKIA OY, Finland's largest private industrial group, has applied for listing on the Paris and Frankfurt stock markets, it said in a statement in Helsinki on Thursday. Nokia, a diversified group with interests in telecommunications. electronics. chemicals and tyres, is currently listed in Helsinki and
      AFP  -  75 words
    • 172 17 NYT A DELAWARE judge has ruled that Ivan Boesky, along with his wife, Seema. and Drexel Burnham Lambert Inc. must receive part of the proceeds from any liquidation of a partnership formed by Boesky. The trustee overseeing the liquidation of Ivan F Boesky
      NYT  -  172 words
    • 463 17 Reuter FEDERAL RESERVE Board chairman Alan Greenspan told the US Congress on Thursday that he could not guarantee there would be no repeat of the October stock market crash. But the chance of another Oct 19 "black Monday" market collapse when the Dow
      Reuter  -  463 words
  • Page 17 Advertisements
    • 561 17 SinGAPORE AIRLinES (Incorporated in the Republic of Singapore) ANNOUNCEMENT The Board of Directors of Singapore Airlines Limited wishes to make 1 AUDITED RESULTS FOR THE YEAR ENDED 31 MARCH 1988:THE COMPANY 19*7-88 1986-87 Change SS Million S$ Million the following announcement:Revenue PROFIT FOR THE YEAR After accounting for:Investment income Finance
      561 words

  • 646 18  -  ADMITTED TO SEEKING AN AMERICAN ASSURANCE OF POLITICAL ASYLUM By MARTIN SOONG THE GOVERNMENT says it accepts the Reagan Administration's assurance that there was no organised plan to influence local politics, but maintains that the black operation expelled US diplomat Hank Hendrickson
    646 words
  • 249 18 Reuter MALAYSIA IS HAPPY the US has overcome its funding difficulties for a new International Natural Rubber Agreement (Inra) and has urged it to ratify the accord soon. "We are happy that the US has been able to get over their problems
    Reuter  -  249 words
  • 83 18 AP THREE 19th-century paintings worth about 100 million guilders (US$5O million), among them a work by Vincent van Gogh, were stolen from the Municipal Museum in Amsterdam yesterday, making the theft the largest art robbery in modern Dutch history. The paintings were Carnations, an 1880 work
    AP  -  83 words
  • 150 18 THE HIGH COURT yesterday admitted Queen's Counsel Anthony Paul Lester to the bar to argue a habeas corpus application for lawyer Teo Soh Lung, one of eight people arrested and detained under the Internal Security Act since April 19. Neither Attorney-General Tan Boon
    150 words
  • 363 18  -  By BRIAN GOMEZ THAILAND'S army chief General Chavalit Yongchaiyudh, who arrived in Singapore yesterday from Bangkok, left behind a storm of controversy stirred by his statement last Sunday that he could stage a successful coup if he wanted to. Although he gave an assurance
    363 words
  • 297 18 AP RADICAL STUDENTS tossed homemade bombs into the US embassy in the South Korean capital yesterday as anti-govern-ment and anti-US protests continued for a fourth straight day. Eye-witnesses said two people were injured in the attack. Seven attackers were arrested. The students,
    AP  -  297 words
  • 151 18 AFP INDIA'S exports touched a record US$l2 billion in the 1987-68 financial year ending March 31, Commerce Minister Narayan Dutt Tiwari said yesterday. He told newsmen the government has devised a new strategy to enhance exports, and added that "bottlenecks in
    AFP  -  151 words
  • 403 18 AFP FOUR OFFICIALS from the north-eastern Chinese city of Shenyang are visiting Seoul to purchase large industrial plants, the Japanese newspaper Yomiuri Shimbun reported in Tokyo yesterday. Japan's largest circulation daily, quoting a source close to the ruling
    AFP  -  403 words
  • 319 18 Reuter IRAN'S top war spokesman said yesterday that the United States and Iran were at war, and that US warships in the Gulf had directed Iraqi pilots in attacks on Iranian forces. "The Americans have officially entered into a war with
    Reuter  -  319 words
  • 453 18 AFP PROSECUTORS had dropped a fraud charge against former Carrian boss George Tan and his ex-righthand man Bentley Ho because the pair were facing trial on "a more serious charge", the Hongkong High Court heard yesterday. Tan and Ho had been charged with conspiracy
    AFP  -  453 words
  • 88 18 Reuter COMEX gold futures eased on scattered selling yesterday after the Commerce Department reported a 0.4 per cent increase in US consumer prices in April, a number seen as disappointingly low by some inflation watchers. In early trading, June gold was off US$O.9O at U*****.30 an
    Reuter  -  88 words
  • LATE FILE
    • 44 18 AP SINHALESE GUNMEN killed the General Secretary of Sri Lanka's ruling United National Party as he left his home in Colombo yesterday. Police said two men opened fire with rifles as Nandalal Fernando was being driven to his office. AP
      AP  -  44 words
    • 35 18 AFP FOREIGN MINISTER Nguyen Co Thach will head a Vietnamese delegation to a conference of foreign ministers of non-aligned countries set for May 26-29 in Havana, a ministry spokesman said.
      AFP  -  35 words
    • 35 18 AFP RIOT POLICE used water cannons to disperse thousands of demonstrators in Taipei yesterday as a farmers' protest against government policy ended in violence. Witnesses said about 40 people were injured. AFP
      AFP  -  35 words
    • 34 18 AFP TWENTY-TWO PEOPLE were killed and 16 injured yesterday when a truck collided with a train in central Thailand, sending two coacfes crashing into a canal, Chai police said. AFP
      AFP  -  34 words
    • 31 18 Reuter JAPAN'S Chiyoda Chemical Engineering Co Ltd Italy's state-owned engineering company SnamprogAtti SpA have jointly won anjorder to build a 220,000 bporafinery in Iran. Retrter f
      Reuter  -  31 words
    • 35 18 Reuter AUSTRALIA has stationed two naval vessels near Vanuatu in case Australians need to be evacuated after riots in the South Pacific island ptate, according to the Australian Defence Ministry. Reuter
      Reuter  -  35 words
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