The Business Times, 20 August 1988
1988-08-20
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The Business Times
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Article270 1988-08-20 1 AFP Dow Jones up WALL STREET stocks opened higher yesterday morning in slow trading, after a trendless pattern that has affected the market all week. The Dow Jones Industrial Average was up 15.11 points to 2,042.14 after one hour of trading. Analysts attributed the sluggishness to theAFP - 270 words
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130 1988-08-20 1 SPECULATIVE buying by foreign investors ahead of Tuesday's Australian Budget pushed the Aussie dollar up by one US cent against the American dollar yesterday. But the New Zealand dollar fell sharply. In Sydney yesterday, the Australian currency climbed to a l!4-month high of U550.8155130 words
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376 1988-08-20 1 LILY FERNANDEZ - By LILY FERNANDEZ THE POST Office Savings Bank has launched a current-cum-savings account facility which is effectively a smaller version of DBS Bank's Autosave scheme. POSB informed its 159,000 current account holders in a letter dated Aug 15 that a Giro facility has been launched376 words
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287 1988-08-20 1 Scheme to be worked out over the next year or two SINGAPOREANS will be given a say in the PAP government proposal for a popularly elected president when a bill is drawn up later in the year. The government would refer the287 words
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488 1988-08-20 1 CHUANG PECK MING - By CHUANG PECK MING CENTRAL Provident Fund savings can be used for tertiary education, the government has decided. "We now think it can be done," Trade and Industry Minister Lee Hsien Loong said yesterday when he and First Deputy Prime Minister Goh488 words
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276 1988-08-20 1 FT AUSTRALIA and New Zealand have pledged to create a single market in trade, services and other commercial dealings across the Tasman Sea by 1990, promptly laying claim to an economic relationship unequalled by any other two sovereign countries. The declaration on ThursdayFT - 276 words
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Article, Illustration260 1988-08-20 1 FOO CHOY PENG - t>y FOO CHOY PENG THE SINGAPORE stock market fell for the eighth consecutive day in subdued trading in line with lacklustre overseas sentiment. Led by falls in quality stocks, the Straits Times Industrial Index recorded another heavy fall, dropping 14.87 points to 1081.50, bringing260 words
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Page 1 Advertisements
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Advertisement216 1988-08-20 1 Nikon Ths World's Finest Photographic System. More reports PAGE 2 Chok Tong releases PAP's More Good Yean programme High-powered four More reports, PAGE 5 MIIKITI BT on Saturday: 6 Employed for eternity No sushi, but spaghetti 6 The changing Japanese diet, especially among those in their 20s Portable phones 6216 words
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Advertisement12 1988-08-20 1 Full report, PAGE 16 Regional Mkts, PAGE 18 World Mkts, PAGE 1912 words
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Advertisement317 1988-08-20 1 The World's Finest Photographic System. Travelling North Page 7 Ptrstnl Trivia The world through hazel-tinted lenses Pag* 7 Make no bones about this Page 9 Quality wines need not be expensive Page WMkNri TV TV programmes for today and tomorrow Page 10 B Stats t» Watck Pavarotti and Rostropovitch Page317 words
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HOME NEWS
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Article, Illustration956 1988-08-20 2 MARTIN SOONG - Reports by MARTIN SOONG WITH Drs John Chen and Low Seow Chay, both senior engineering lecturers, the PAP loaded high-powered technocrats onto its slate of election candidates. Add former television newscaster Nasser Kamaruddin, and ex-SAF Director of Joint Operations BG (Res) George Yeo, and the PAP brought to956 words
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Article, Illustration410 1988-08-20 2 CHUANG PECK MING - (M3ME mmxm By CHUANG PECK MING JUST HOW the People's Action Party intends to go about building a better country for Singaporeans is outlined in its election manifesto released yesterday. In its More Good Years programme released by First Deputy Prime Minister410 words
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Article329 1988-08-20 2 THE SINGAPORE Manufacturers' Association (SMA) is undertaking three separate export promotion missions with the support of the Trade Development Board. A 12-member team from the SMA is currently on a trade and investment mission in Papua New Guinea and Fiji. They left on Aug 13 for329 words
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175 1988-08-20 2 A STEERING COMMITTEE has been set up to formulate a five-year development plan for the Singapore Manufacturers' Association (SMA). The committee will review the performance of the manufacturing sector and focus on long-term, broad approaches to problem areas in the sector. It will also175 words
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332 1988-08-20 2 KEN-AIR Incentive Convention Planners, which arranges overseas incentive and convention programmes, has clinched contracts worth $6 million. The major part of its conventions business is coming from American International Assurance, a $2.75 million account. Not far behind is oil company Mobil with $2 million.332 words
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78 1988-08-20 2 OPPOSITION POLITICIAN Seow Khee Leng of the Singapore United Front yesterday announced that he and seven others had resigned from the SUF to join the Workers' Party for the Sep 3 General Election. The potential candidates were likely to stand in the eastern78 words
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Article, Illustration489 1988-08-20 2 ANNA TEO - National Solidarity Party By ANNA TEO THE NATIONAL Solidarity Party yesterday introduced the first two o! 14 candidates it hopes to field for the general elections. Party secretary-general Ken Sunn, 42, will stand in Whampoa, while Mr Rasiah Thiagarajah, 51, the assistant secretary-general, will contest Yio Chu489 words
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Page 2 Advertisements
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Advertisement183 1988-08-20 2 WL^L WE'LL DELIVER To Your Home Or Office at no il EXTRA SINGAPORE BUSINESS gives you the newest trends affecting the economy, analytical features and snappy columns on the stockmarket, trade industry, banking, property, company profiles and personalities. Don't miss a single issue, subscribe today! Just complete and post this183 words
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OVERSEAS
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Article, Illustration437 1988-08-20 3 Agencies. OPPOSITION LEADER Benazir Bhutto has told a press conference in Islamabad on Thursday the opposition parties would "win the next elections in November". Benazir Bhutto, a strong contender to lead this divided nation of 103 million people, said she had no wish toAgencies. - 437 words
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Article785 1988-08-20 3 ARRIVALS Operator Service Local From number time THA TG407 1205 BKK/HDY GIA GA900 1210 PKU MAS MH641 1230 KCH SIA SOI 1250 SFO/HNL/HKG S1A SQ203 1300 CGK SIA SQ107 1305 KlU SIA SQ31 1355 PAR/ZRH SIA SQ109 1405 KUl DCH LH776 1410 FRA/BKK SIA SQ455 1410 BWN785 words
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283 1988-08-20 3 Agencies INDIAN TROOPS went on alert along the border between Pakistan and the sensitive Indian states of Punjab and Kashmir yesterday, a day before the funeral of Pakistani President Mohammad Zia-ul-Haq. Indian authorities also imposed an indefinite curfew on Thursday inAgencies - 283 words
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340 1988-08-20 3 AP UNEMPLOYMENT may breed more unemployment, particularly in Britain and to some extent in West Germany, according to a study published by the International Monetary Fund. Failure to bring down unemployment is an old problem in Western Europe. The Fund gives the most recent ratesAP - 340 words
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510 1988-08-20 3 Agencies THE BURMESE government, trying to silence a clamour for political reform, has offered the angry and impoverished nation an array of economic incentives. Burmese and foreign businessmen say the drive to implement the long-needed reforms has gone on in earnest. Extolling the country's vast naturalAgencies - 510 words
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Article120 1988-08-20 3 AFP THE US is prepared to defend its trade bill against protectionist charges levelled by European countries before the General Agreement on Tariffs and Trade (Gatt), Trade Representative Clayton Yeutter's press office said in Washington on Thursday. Several European countries have said the USAFP - 120 words
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352 1988-08-20 3 Agencies. ON A NIGHT intended as his triumphant emergence from the shadow of Ronald Reagan. George Bush found the sun partially blocked by a storm over his youthful vice-presidential running mate. Dan Quayle. Mr Bush vowed on Thursday to stand by his running mateAgencies. - 352 words
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Page 3 Advertisements
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Advertisement58 1988-08-20 3 rI If JW \f\ rI 1i The business person's choice, every I I II 111 I Tuesday. Thursday. Saturday and I 1 Ml II f Sunday. Leaving Changi Airport at I W -/1 22 05 hours and arriving at Lester B. Pearson International Airport the following day Call your Travel58 words
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Advertisement56 1988-08-20 3 unni THE SALE OF THE SEASON NOW ON C> v.* lackets I rousers Shirts Belts I ics I cat her and other tine Dunhill Merchandise Hilton International Hotel C entrepoint Metro (>rand 1 uck\ Pla/a Daimaru I lang ourt) 1 set an Havelock New I set. in Orchard Wisma Atria56 words
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Page 3 Miscellaneous
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Miscellaneous136 1988-08-20 3 z//'H Max/ Not* Mln (°C) 16/08 Oowdy 24/16 door 38/24 Cloudy 38/30 Otof 33/25 Cloudy 30/23 Cloudy 26/20 O'cost 30/25 Sumy 30/19 Cloor 24/10 Cloor 31/23 Cloudy 25/10 Sunny 23/12 Roin 25/16 Cloor 27/13 Cloor 17/06 Cloor 35/23 Cloor 20/11 Cloudy 14/05 Fino 26/17 Roin 37/25 Cloudy 21/13 Cloor 31136 words
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Miscellaneous50 1988-08-20 3 Doonesbury 0 MIAMI sec&TARy, m&t£Ai STATE OF INDIANA.. b ...HOME- STATE OF DAVID LSTTERMAN, HALSTON MP JOHN COUGAR MELUNCAMP... i 9 BY GARRY TRUDEAU ...CUTTHA DEEP SENSE OF RESI6- H ,p NATION, CASTS u,p ALL ITS VOTES* FORG&XGZ IEA. BUSH! m r A m a Tt> A m sgg m50 words
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MONEY AND EXCHANGES
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Article277 1988-08-20 4 ASIAN dollar deposit rates closed at the morning's steady levels after a quiet day's trading yesterday. Weekend and Monday/Tuesday closed at 8 1/16 7 15/16 per cent each and week-fixed at 814 8!4 per cent. One month closed at 8 7/16 8 5/16 per cent, three months277 words
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Article71 1988-08-20 4 THE OVERNIGHT rate on the Singapore money market rose V 4 point yesterday to end at 4% per cent. The two- and threemonth term rates rose by 1/16 point each while onemonth remained unchanged. S$ Interbank rates at the close yester day: OWf WD o*«»night 4 3/4 471 words
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Article, Illustration182 1988-08-20 4 Indicates the ivtrag* of the prim* landing rates of 12 major banks in S'pora Interbank market rates (offer/bid) on Aug 19 us$ DM SWFC Yen 8 5/16 3/16 io 1/2 10 1/4 4 13/16 11/16 2 3/4 5/8 4 5/8 1/2 8 3/8 1/4 10 15/16 13/16182 words
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Article103 1988-08-20 4 Treasury bills Period Issue Yesterday's closing Day's code Maturity BID Of FEB HtGH LOW 3 months BQ*****X 17.11.88 4.10 4.05 4.08 4.06 6 months BY*****T 24.11.88 4.10 4.05 1 year BY*****S 20.07.89 4.60 4.55 4.57 4.57 Government notes and bonds Period Issue Maturity Coupon Yesterday's closing Day's103 words
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Article1333 1988-08-20 4 Reuter SINGAPORE: The US dollar closed firmer agaainst most major currencies yesterday. Against the Singapore dollar, the US dollar closed firmer at 2.0375/85 in erratic trading after trading within a range of 2.0368 and 2.0380. It opened at 2.0365/75. OCBC Trading was quiet and featureless yesterday. Major operatorsReuter - 1,333 words
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Article501 1988-08-20 4 SEPTEMBER Eurodollar futures opened one tick lower in Simex yesterday from Chicago's close at 91.25 on concerns over the strength of the US economy and high Federal funds rate. The Sep contract traded to a high of 91.28 when Chicago night bonds futures traded to a high of 85.09.501 words
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Article260 1988-08-20 4 IMM currency futures closed higher on Thursday and near the middle of session ranges after firming on light short-covering. Volume was thin, and scattered position-squaring helped boost the market from its lows. Currencies had opened at their highs on news of US Commerce Secretary William Verity's comments and on260 words
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Article163 1988-08-20 4 Gold futures on Aug 18, 100 troy ounces. USS par troy a unce OpMI Low S««o Aug 431.30 431.80 431.30 433.30 1.30 Sop 433.10 433.10 43X10 433.80 1.30 Oct ***** 436JO 434.30 436.30 1.30 Dac 441.70 443.60 440.10 443.10 1.30 Fab 447.60 448.60 447.00 448.30 1.40 4p»163 words
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Article1465 1988-08-20 4 CURRENCY FUTURES OPTIONS Fridoy, Aug 19, 1988 DEUTSCHE MARK (SIMEX) 1 HV lap 88 caMa Lm 9mm Man Oaa M P«t» Lm Oaa 50 52 33 54 55 56 57 58 59 63 608 258 64 29 13 35A 72A 1 36A 220A 312a 4 31 6* 131 2151,465 words
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Page 4 Advertisements
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Advertisement6 1988-08-20 4 Keep your investment decisions on target6 words
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BANKING AND FINANCE
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497 1988-08-20 5 Reuter THE HONGKONG and Shanghai Banking Corp is expected to report next Tuesday a 13 to 16 per cent rise in net profit in the first half to June 30, stock analysts said. They forecast interim net profit of HK$l.6O to HKSI.6SReuter - 497 words
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259 1988-08-20 5 Reuter THE AUSTRALIAN Reserve Bank will soon post capital adequacy requirements that will favour the bigger Australian financial institutions, banking sources said. Stock market speculation of imminent changes lifted share prices of Australia's major commercial banks, Westpac Banking Corp, National Australia Bank Ltd and Australia andReuter - 259 words
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Article, Illustration565 1988-08-20 5 LEONG WEN WAH - By LEONG WEN WAH DBS BANK, which aspires to be the biggest credit card issuer in Singapore, has attracted more than 10,000 applications within the first 19 days of the launch of its Visa565 words
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Article256 1988-08-20 5 MR ERIC SAW. 40, the man running the DBS Card Centre, won his spurs at a finance company in Singapore. He joined the Credit Corporation (Singapore), a local finance company, in 1970 and moved up the ranks to become its chief executive officer in256 words
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COMMODITIES
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Article76 1988-08-20 5 SOYBEAN FUTURES closed mixed in quiet trade in Chicago on Thursday, ranging from up 3% US cents per bushel in August to down three in thinly-traded July. November closed up slightly at US$B.93 settlement after a 12-cent range on the day. Soybean meal futures ended down US$O.3O a ton76 words
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Article70 1988-08-20 5 SOFT RED WINTER wheat futures rallied from Chicago's opening on Thursday to close two to 4% US cents per bushel higher in quiet trade. September settled at U553.92% after posting a 4!4-cent range on the day. Corn futures closed mostly higher in light trade, ranging from up three cents70 words
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Article304 1988-08-20 5 London Commodity Exchange Buyer/Seller closing prices on Aug 18 (£/torme unless specified). Previous closing prices in parenthesis. Coffee Basis in-itore London, sellers option CIF London Sep 1015/1016 (997/98) High/Low 1025/1000 Nov 1027/1030 (1008/1010) High/Low 1040/1014 Sales (4562) Cocoa Sep 897/899 High/Low (892/893) 900/889 Dec 882/883 High/Low (879/880) 888/876304 words
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Article225 1988-08-20 5 Chinese Produce Exchange Sellers' noon dosing prices on Aug 19 (S$/100 kg) Coconut oil Bulk FOB 120.00 Old drum FOB 130.00 New drum FOB 134.00 Copra Mixed (loos*) 69 Pepper Muntok white FOB NLW 822.50 Sarawak whit* FOB faq NLW 812.50 Sarawak sp*cial black FOB NLW 477.50 Sarawok225 words
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Article303 1988-08-20 5 HONGKONG: Gold closed slightly higher on the US dollar's weakness yesterday. Trading was thin and lacked fresh factors. Buying orders from locals in late trading pushed the metal higher after a soft opening. Bullion ended at U*****.30/80 an ounce against an initial U*****.70/432.10 and compared with New York's303 words
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Article112 1988-08-20 5 THE Kuala Lumpur Tin Marfcat (KLTM) price roaa nina cent* to M 519.47 a kg on weekend covering and continued strong buying demand yesterday. Turnover was 75 tonnes, up from 38 on Thursday. The steady European spot market and a starting rise againat the Malaysian dollar reduced the112 words
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Article76 1988-08-20 5 S| SEPTEMBER 1988 OCTOBER 1988 (cvrr*rrt month) (forward month) RAS NOON NOON S«ll*r» Buy*n S#ll#n SSR 20 220.00 222.00N 220.00 222.00N SS* 50 218.00 220.00N 218.00 220.00N MRELB luy*n S«M*rt S*ll«ri SMR cV 407.50 409.50N 409.50 41 1.50N SMR I 407.50 409.50N 409.50 411. SON SMS 576 words
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Article202 1988-08-20 5 SINGAPORE Rubber prices closed higher with September RSS One buyer quoted at 252.50 cents a kg, up 2.50 cents from Thursday's close. On the TSR-20 Award market, prices were also higher. The September buyer ended at 223.00 cents a kg, up four cents from Thursday's finish. The Rubber Association202 words
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Article278 1988-08-20 5 RAS prices in S cents/kg, FOB In bales NOON CLOSE Buyers Sellers Buyers Sellers lot 1 RSS Prompt 252.00 253.00N 252.50 253.50N bit 1 RSS Sep 88 252.00 253.00N 252.50 253-50N lot 1 RSS Oct 254.50 255.50N 255.00 256.00N bit 2 RSS OP 248.50 250.5ON 249.00 251.00N278 words
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Article103 1988-08-20 5 PRICES were little changed across the board yesterday and the market was. for the most part. thin. However, a flurry of deals was noted on Fuel Oil. Closing prices for crude (FOB origin) USJ/borr* Chang* Tapta (S*p) 14.90 undi Minat (Aug) 14.30 uneh Dubai (S*p) 1190 +0.05103 words
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Article197 1988-08-20 5 MALAYSIAN CRUDE PALM OIL FUTURES closed on a weaker note for the fourth consecutive day on further liquidation ahead of the weekend yesterday. A fall in Chicago soyoil futures and current large palm oil stocks weighed on values. India's fresh purchase of 6,000 tonnes of R6O palm olein197 words
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339 1988-08-20 5 MALAYSIAN crude palm oil prices closed with extended falls on continued liquidation and buyers' reserve yesterday. The falls also reflected declines in palm oil futures and Chicago soyoil futures. Fresh palm oil offtake from India failed to lift sentiment. India yesterday booked 6,000339 words
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Page 5 Miscellaneous
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Miscellaneous36 1988-08-20 5 BtiStcwrßankDicfcne Si YOU MPvve RNy mBIT,ON LCFT RF^PTiB^ 'UHQg I U)RS toUNG DR£Pifn 6g *n-t£. top Br*mki vguEGec* ■MVSg.p l~ THU4 suddenly I F^CE. "TO FBCe LOITH g£*LITV p,MD RU. P\TONC6. I LCOO?eD rny \SIGHTS TK36 words
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PERSPECTIVE
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Article473 1988-08-20 6 JAPANESE companies have a way with things, even the hereafter. More and more firms are building corporate tombs for employees who, having shared good and bad years during a lifetime of service, can now keep one another company in death. In a recent report, The Daily Telegraph473 words
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Article, Illustration604 1988-08-20 6 JANICE FUHRMAN - Doctors attribute the long lifespans of the Japanese to their traditional healthy diet of fish, rice, vegetables and miso soup. But recent Western influences have brought fast foods into the country, together with fats, cholesterol and sugar, reports JANICE FUHRMAN.UPI - 604 words
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Article, Illustration505 1988-08-20 6 Reuter HONGKONG did not invent the portable telephone but entrepreneurs like Henry Tse now wonder how they ever lived without it. Mr Tse's business interests are varied. His calling card describes him as director of Rich Honest Industries Ltd, Henry and Company and Opulence WatchReuter - 505 words
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341 1988-08-20 6 ASPIRING NOPE - Utter to Mm Editor ASPIRING NOPE Dear Sir I enjoyed Monica Gwee's very perceptive article "The Rights of Passage (BT, August 13-14, 1988) which profiled the Nouveau Richards. Yups and Nopes in our society. Permit me to add a few observations of my341 words
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Article1171 1988-08-20 6 AT CONVENTIONAL WHARVES O iong*,d. 2006/2300 Sin tslond J5/6 alongside 2006/0600 VmmI Barth Arrival Departure I* 00 J 2-J522 ur Sinor Mega Jl alongside 20.08/2300 KEPPEL WHARVES »buon Joyo J9 20 06/0700 2006/2300 Eastern Glory <28 alongside 2006/2300 Star Treasure J4/5 2006/0700 23.06/0700 Kris Melela IC25W alongside1,171 words
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Page 6 Advertisements
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Advertisement138 1988-08-20 6 M anagers ust anage BT shows you how every Monday. from Master Chef Wong Ah Tongs creative kitchen await to TAIK AN-FN P am P er Y our tastebuds at the Taikan-En Chinese Restaurant. aCStmiALRAM A rand total °f no ,ess than 24 new palate sensations. (Level 6) Master Chef's138 words
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Executive Lifestyle
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Article237 1988-08-20 7 ONE OF Mr Lee Kuan Yew's most memorable quotes in his National Day Rally speech must surely be: "Even if you are going to lower me into the grave and I feel that something is going wrong, I'll get up." It brought laughter and applause. When237 words
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Article, Illustration1080 1988-08-20 7 JEFFREY TSANG - By JEFFREY TSANG IT IS SAD that the only things about Thailand that seem to attract Singaporeans are its forbidden delights and sundry pirate products ranging from EMI music to Cartier watches. Thailand is easily one of the most exotic kingdoms. For one, it is one of the1,080 words
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Article, Illustration1097 1988-08-20 7 MONICA GWEE - With MONICA GWEE IT WAS A direct response to the countless times when smarmy touts in Lucky Plaza would sidle up to me and mutter in Japanese, illegal requests to provide copy watches and services. It's bad enough that they do it right under a1,097 words
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Executive Lifestyle: Entertainment & Pursuits
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Article, Illustration618 1988-08-20 8 Jeffrey Tsang - by Jeffrey Tsang IT WASN'T ANYTHING like the film, I thought when I stepped onto the infamous Bridge over the River Kwai. Where were the mountains that Alec Guinness and his gang of commandos hid in while observing the construction of the bridge in that classic movie? And618 words
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Executive Lifestyle: Entertainment, the Arts & Pursuits
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801 1988-08-20 9 N K Yong - WINE C Wine By N K Yong GOOD WINES need not be expensive. Non-label drinkers will find that good wines are not difficult to discover. Great values can be found, for instance, in Australian and Italian wines. A sense of adventure and a801 words
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Article, Illustration874 1988-08-20 9 RICHARD SEAH - HEALTH By RICHARD SEAH IF COWS COULD TALK, they might, with a smile, tell us that "calcium's in". There is vested interest in this message. Milk is rich in caloium. All the attention being given to calcium is keeping the874 words
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409 1988-08-20 9 WALTON MORAIS - CHARITY By WALTON MORAIS AT THE END of 24 wearying hours, they would've swum a total of about 300 laps each But for 36 swimmers at the Holiday Inn Park View this weekend, it would all have been worth409 words
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Article, Illustration945 1988-08-20 11 Roger Loh - «s>m^ Roger Loh SOMEHOW, the chemistry never seemed to take fire. Matching my dull green shirt with a guava-tinted silk tie, wood brown pants and autumn light shoes doesn't quite cut it. I've even tried pastel combos. I am not945 words
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Article661 1988-08-20 11 Sakina Dhilawala - Compiled by Sakina Dhilawala CINEMA. Rambo 111 starring Sylvester Stallone. Showing at Cathay: 11; 1.30; 4; 6.30; 9.15. Like Father Like Son starring Dudley Moore and Kirk Cameron. Showing at Orchard: 11; 1.30; 4; 6.30; 9.15. Beat Seller starring James Woods, Brian Dennehy, Victoria Tennant. Showing at Prince 2:661 words
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Article, Illustration665 1988-08-20 11 MONICA GWEE - Title: Answered Prayers Author: Truman Capote Publisher: Abacus; 181 pages aaagftg? Reviewed by MONICA GWEE TRUMAN CAPOTE could not have fathomed the full warning offered to him by the quote he uses in his book from Saint Teresa: "More tears are shed over answered665 words
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Article, Illustration628 1988-08-20 11 WALTON MORAIS - MUSIC By WALTON MORAIS THEY'RE CALLING it Pop Sparks. But if the show fires the public's imagination, the sparks could ignite and shoot Singapore's budding songwriters into superstardom. This, at least, is the plan for DBS's December lunchtime concert which will showcase628 words
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Article, Illustration540 1988-08-20 12 SANGEETA MULCHAND - ART By SANGEETA MULCHAND SOME proud papas pass around cigars. But not Filipino glass sculptor Ramond Orlina. This 44-year-old sculptor instead, created a 24-piece sculpture collection and named it Naesa, after his baby daughter. "Naesa is actually Asean spelt backwards," explains Orlina. "She was born during the540 words
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Article, Illustration559 1988-08-20 12 LILY FERNANDEZ - NIGHTSPOTS By LILY FERNANDEZ SAILING into the Singapore night is now an alternative for night birds in search of somewhere new, somewhere different. The Equator Dream a triple-deck, 100-foot (36-metre) catamaran docked at Marina Bay for just such a purpose is owned559 words
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Article, Illustration584 1988-08-20 12 Simply a legend the 'Commendatore' Ferrari BIOGRAPHY AFP THE LAST of the great automobile legends, Enzo Ferrari, whose cars were as fast as they were exotic, died at his home in Modena, a northern Italian town last Sunday. His death was not announced until Monday, after his funeral had alreadyAFP - 584 words
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Article, Illustration631 1988-08-20 12 Mike Thumba - Bridge By Mike Thumba THIS WEEK I want to discuss a problem which has often vexed the timid players. They are often berated by their partners for not taking risks or for not bidding boldly. But I must hasten to caution the enthusiastic over-bidder.631 words
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Executive Lifestyle: Entertainment & the Arts
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Article, Illustration473 1988-08-20 10 JAIME LYE - CINEMA By JAIME LYE TRUST Neil Simon to take a bunch of insignificant youngsters drafted into the army during World War 11, and turn them into fascinating psychological studies. But there isn't much else to do considering that the only heart-stopping action473 words
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Article, Illustration214 1988-08-20 10 AP PLAYBOY founder Hugh Hefner, 62, intends to have a signed pre-nuptial agreement before he weds 25-year-old Kimberly Conrad, the magazine's Playmate of the Month for January. The two announced their engagement in July and are expected to wed next year. Mr Hefner has beenAP - 214 words
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Executive Lifestyle: Personal Investment
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660 1988-08-20 13 Ramesh Chandiramani - UNIT TRUSTS BEnnnEFTSt CDR/lERm by Ramesh Chandiramani INVESTORS in open-ended unit trusts are a dissatisfied lot. While the local stock market had picked up smartly following the crash last October, prices of most managed funds have trailed badly behind.660 words
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Article, Illustration445 1988-08-20 13 iJssi^ CHART PillNT by RC THE CURRENT BOUT of market weakness is simply the result of investor nervousness about rising interest rates, right? Not quite. While the surprise rise of the US discount rate last Tuesday did do the trick, it wasby RC; Source: Investamatic - 445 words
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Article, Illustration1544 1988-08-20 13 BARRY RILEY - WORLD MARKETS By BARRY RILEY FT WHERE in the world should the investor go now? That is the perennial question for the increasingly numerous global investment strategists who scan the international markets. A pointer was given last week by the unexpected half-point rise in the USFT - 1,544 words
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369 1988-08-20 13 Corrina Lim - COMPETITION by Corrina Lim HAVING led the games for the past 10 weeks, brokerage firm Paul Morgan Associates has finally slipped and moved into second spot in the Great Investment Race. Captain Sng Eng Chua had said last week that with the369 words
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Article524 1988-08-20 13 KEVIN GWEE - US ECONOMY Keeping track... By KEVIN GWEE WALL STREET'S current obsessive fear of rising inflation and interest rates was rekindled in late-July when the US GNP deflator for the second quarter was released. That gauge, which serves to cut the inflationary impact out of the GNP524 words
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576 1988-08-20 13 ART Sotheby's Research Department THIS WEEK'S series of end-sea-son reviews covers the Impressionist and Modern Paintings markets. Both fields have increasingly come to dominate the art market as a whole in terms of the sheer value of works sold. The increases of 65 per cent andSotheby's Research Department - 576 words
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Executive Lifestyle: Sports
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Article, Illustration414 1988-08-20 14 CHARLES SAVAGE - GOLF By CHARLES SAVAGE THE Warren Charity Open to raise about $20,000 for three charities has attracted a hoard of golfers, including top amateurs like Samson Gimson, M Balraj and David Soh. Playing over last weekend and this weekend, the 383 golfers in four414 words
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Article, Illustration366 1988-08-20 14 AFP BEN CRENSHAW and Mark O'Meara won the second day of the US$l million International Golf Tournament on Thursday, compiling 10 points each for a first prize of U558,750. Both golfers made six birdies and two bogeys on the 7,503yard, par-72 Castle Pines Golf ClubAFP - 366 words
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Article, Illustration581 1988-08-20 14 BOXING AP SUGAR RAY LEONARD says he has something in common with Jason, the masked murderer in the Friday the 13th movies. "We both keep coming back," he said. Leonard's hopes his third comeback since 1984 will make him the first fighterAP - 581 words
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Article, Illustration658 1988-08-20 14 Jerome Fandor - on TR/O With Jerome Fandor MALCOLM THWAITES is the trainer to watch in the Rothman's International 100 Triple Crown second leg in Penang on Sunday. He trains the sprinting sensation of the MRA turf and brilliant winner of the first leg, He's Dawan. He's658 words
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Article, Illustration562 1988-08-20 14 ATHLETICS UPI LEE IVANS' world 400 metres record of 43.86 seconds lasted almost 20 years until Harry Butch' Reynolds beat it at the Weltklasse meet at Zurich on Wednesday. The way Reynolds is feeling right now, his new mark of 43.29 seconds will be luckyUPI - 562 words
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Article513 1988-08-20 14 LILY FERNANDEZ - BUSINESS By LILY FERNANDEZ SINGAPORE s sports goods industry hopes to cash in on booming sales by holding two industry exhibitions after a twoyear lapse. Aquatics 88 and Sportex/Fitness 88 will be held simultaneously at the World Trade Centre from Nov 17 to 20.513 words
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225 1988-08-20 14 CRICKET AP CRICKET PLAYERS from the Australian Friendship Tour had a few laughs and gave a few tips on the rudiments of the game to Chinese athletes at a clinic held on Thursday at the Australian Embassy in Beijing. The Australian squad captain isAP - 225 words
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Article, Illustration317 1988-08-20 14 TENNIS AP AFP YOUNG AMERICAN Michael Chang continued his magical advance on Thursday to the quar-ter-final round of the U*****,500 ATP Championship in Mason, Ohio. Sixteen-year-old Chang, ranked 67th in the world, knocked off Australian John Frawley in three sets 4-6, 7-5, 6-2 and advanced toAP; AFP - 317 words
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186 1988-08-20 14 AP CARL LEWIS and Said Aouita, hoping to become multiple Olympic champions next month, will get one of their final tune-ups for the Seoul Games in the Memorial Van Damme Grand Prix meet in Brussels. Moroccan Aouita will star in the 800 m,AP - 186 words
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Page 7 Advertisements
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Advertisement115 1988-08-20 7 Since 1735 there has never been A QUARTZ BLANCPAIN WATCH. AND THERE NEVER WILL BE ~ry>; r i i J: •v S mm 1* 1 r7 3* H. t; O m m. J m > 91 JR. BlancpaiN Faithful to the traditional art of watchmaking, each watch is stiH assembled,115 words
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Page 8 Advertisements
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Advertisement858 1988-08-20 8 V i; SUNDAY FAMILY LUNCH m r <* Bnng the family for a fabulous mcaJ of fresh seafood and chine* dishes from our a la cane menu. Ai a generous 25% off the bill. But only on Sundays between 11.30 am and 2.30pm. And for a limited period. Plaza Hcjtel858 words
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Advertisement246 1988-08-20 8 vv 7he Matterhorn beckons! Savour the works of Swiss masters at the Belvedere. In our month-long fair stretching from August 1-31. With Jellied trout, Rindsroellschen, Fresh oysters, Sauerkraut swiss style, Fondue neuchateloise, Nut croissants, authentic Swiss rolls and lets more! Come enjoy over 60 traditional favourites at just $31 for246 words
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Page 9 Advertisements
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Advertisement195 1988-08-20 9 I ir A 4 n Sunday Brunch: A great family outing It's a wonderful way to combine a late breakfast with an earty lunch on a lazy Sunday Sausages, bacon, eggs any way you want them oysters, smoked salmon, tasty entrees, roast... right through to pastries, puddings, fruit salad and195 words
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Advertisement84 1988-08-20 9 Starting a SMALL BUSINESS in Singapore. t>a *Sll2§ ■S n«iiig uficry. «SllSSSpi'i covers almost every aspect involving a jS| the setting up of a ®*2255S;iff business organisation j9B entrepreneur will do well to read this book as it will help I im speed up and °ut the setting up process."84 words
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Page 10 Miscellaneous
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Miscellaneous1669 1988-08-20 10 suns 10 WATCH Pavarotti, Rostropovitch and Avery Brundage Movies Paul Newman gives an emotionallycharged performance as an alcoholic lawyer who takes up a no-win case and hopes The Verdict will help him regain his professional and personal self-re-spect. James Mason, Charlotte Rampling and Jack Warden co-star in this Sidney Lumet1,669 words
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Miscellaneous1029 1988-08-20 10 SATURDAY BBC U 9 mHz In VHF Band II 6AM World News 6.09 The World Today. 6.25 Preservation Programme. 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. 6.00 World News 6.09 News about Britain. 6.15 Radio Newsreel 6.301,029 words
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Page 11 Advertisements
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Advertisement93 1988-08-20 11 SAYCHEESE. THINK CHARITY SIX NE W CHEESECA KES AUGUST 15-31 Now far something different. Rum Raisin. Currant. Ginger. Marble. Maple Walnut. English Sherry. Ummm, so good and creamy. How can you resist taking home a magnificent 1.5 kp specimen? You y ll help kidney patients too we'll donate a quarter93 words
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Page 12 Miscellaneous
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Miscellaneous727 1988-08-20 12 mMMm mimmm CRYPTIC PUZZLE ACROSS 9 Making available on condition? (9) 10 Write to when you lose some money (4.1.4) 12 As far as 'Shut up! Rubbish!' (4) 13 Get the facts to the woman in Switzerland (6) 14 The man, master, has returned the dish (7) 15 Got the727 words
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Page 13 Advertisements
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Advertisement28 1988-08-20 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, S'pore 0923.28 words
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COMPANY NEWS
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Article, Illustration514 1988-08-20 15 MBT HOT ON THE HEELS of its acquisition of the exclusive rights in the Grundy's fast-food chain, MBf Holdings has now moved into the education business. The group is paying Ms 22 million to take over Taylor's College and Garden International School.MBT - 514 words
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Article, Illustration569 1988-08-20 15 KEVIN GWEE - Company makes 45pc more profit on 50pc higher turnover By KEVIN GWEE THE SIME DARBY group has just ended what is believed to be a highly profitable financial year and the first to bear evidence to this is Sime Darby Hongkong Ltd, its569 words
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Article300 1988-08-20 15 LONG SHIH ROME - By LONG SHIH ROME JURONG SHIPYARD Ltd has clinched what is claimed to be one of the largest shipbuilding and conversion contracts ever awarded to a local shipyard. The locally-listed shipbuilding company will sign two contracts today with Magnum International Trading, a New Delhi shipping300 words
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258 1988-08-20 15 Reuter BRITAIN'S monopolies investigation into the takeover bid for Ranks Hovis McDougall PLC by Goodman Fielder Wattie Ltd is to focus largely on the £2.3 billion financing package set up to fund Goodman's offer, the Department of Trade and Industry (DTI) said. TheReuter - 258 words
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434 1988-08-20 15 CORRINA LIM - By CORRINA LIM LUM CHANG Holdings Ltd's move into stockbroking is at long last taking off. After waiting for more than half a year, Lum Chang said yesterday it has been given in-prin-ciple approval to acquire the seat of City Securities (in liquidation)434 words
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COMPANY BRIEFS
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108 1988-08-20 15 MULTI-PURPOSE Holdings Bhd has sharply reduced group net loss to M 5171.000 for the six months ended June 30, 1988 from a massive loss of $19.49 m in the previous interim. Loss per share came to 0.02 cents against loss of 2.6 cents. At108 words
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Article78 1988-08-20 15 CEREBOS PACIFIC Ltd (CPL) has increased its offer price for the remaining shares in Cerebos Gregg's Ltd, which it does not own, to NZ$2.7O cash per share from NZ$2.5O. CPL, a multi-national food manufacturing and distribution group, did not give reasons for the move78 words
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101 1988-08-20 15 SHANGRI-LA HOTEL Ltd, which is bidding, together with two other parties, for the tender called by the Urban Redevelopment Authority for the development of the proposed International Exhibition and Convention Centre on two land parcels at Temasek Boulevard/ Temasek Avenue, said101 words
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85 1988-08-20 15 BONVESTS HOLDINGS Ltd has entered into an agreement for the acquisition of 4.25 m shares representing 48.31 pc of Tonhow Industries Ltd from its wholly-owned subsidiary, BHL Investments Ltd for $5.01 m cash or $1.18 each. Together with its own purchase of 100,000 Tonhow85 words
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94 1988-08-20 15 MULPHA (S) Ltd said the High Court has sanctioned its capital reduction on Aug 12 and the Court Order was registered with the Registrar of Companies on Aug 17. Accordingly, existing share certificates are now considered no longer valid for trading from Aug 17 but94 words
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88 1988-08-20 15 MULPHA INTERNATIONAL Trading Corporation Bhd has reduced group net loss to Msl.63m for the six months to June 30, 1988 from $6.64 m previously. Turnover fell 55pc to $31.44 m from $69.26 m. Loss per share came to one cent from 4.3 cents. The company said88 words
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117 1988-08-20 15 DUTCH BABY Milk Industries (M) Bhd has reported almost unchanged net profit of Msl.67m ($1.63 m) on a higher turnover of $89 12m ($68.58 m) for the six months ended June 30, 1988. The increase in turnover was due to new products introduced during the117 words
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Article36 1988-08-20 15 THE STOCK Exchange of Singapore has asked First Capital Corporation Ltd to give the net profits attributable to The Promenade and the rationale for the sale of the building in Orchard Road.36 words
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Article57 1988-08-20 15 MALAYSIAN OXYGEN Bhd (MOX) has bought about 2.25 hectares of industrial land in the Bukit Rajah Industrial Estate in Klang tor its new air separation plant. The plant would supply industrial gases in the Klang area. The land was purchased on a 99-year lease57 words
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166 1988-08-20 15 HOTEL PROPERTIES Ltd's $70 million bond issue with warrants will be listed and quoted on the stock exchange from Aug 29. They were originally due to be listed on Thursday but the SES decided to postpone the listing. Yesterday, the SES166 words
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Article360 1988-08-20 15 LAST FULL YEA* Company Dot* Year Net EPS Groa Net announced ndfcm (cants) dK pro#* to* year ($*000) Somondo Hldgs Interim Apr 30 Sep 88 2.5 Z736 Peffls Woof Interim May 7 Sep 88 289 220 39,823 Rohman Hyd Interim May 15 Sep 88 8.7 15.0 2.449 Int360 words
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Article193 1988-08-20 15 LAST FULL YEAR Company Period Data Veer Net EPS Gtom Nat announced •nding ken*) dfc profit last year ($-000) Mlnebea Interim Jul 21 Sep 87 169 23.0 2.907IgJ (Xrta Com Final Aug 28 Dec 86 4.8481 Fed Cab&s Final Sep 12 Jun 87 6.1751 (il bt Wood Interim193 words
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Page 15 Advertisements
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Advertisement74 1988-08-20 15 3ML 77*77 OPPORTUNITIES M MALAYSIA Equity in major Kuala Lumpur mixed housing project being undertaken with government support by quoted blue-chip listed company Thirty per cent (30%) equity in debt-free listed that is being revamped. Current NTA in Ms 3 For sale: Hotel complex in Kuala Lumpur, small block of74 words
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Advertisement121 1988-08-20 15 -LIFE JOB CRISIS? f r'> m < Unhappy in your job? Is there something better you could be doing? What are you best at? Answers to perplexing career problems can be found at Career Guidance. Talk to us. With our professional analysis we can help you realise your true potential.121 words
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Page 15 Miscellaneous
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Miscellaneous23 1988-08-20 15 AU- 7U/ASAZ o/? /wc/ /v£xr fie'dcu l/ACAr/OAJ.. fSx fe @f by Martell &or<i&y&rjvsr&ACAZ t/oofc I,'A£477GA/: A/VP C/OL> ZA/P c/c&b/&ei c/rre&i-c/ /w/S&eA&£775& 77W£T. 7/23 words
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STOCK EXCHANGE OF SINGAPORE
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Article37 1988-08-20 16 Company OTHERS Hotel Prop Non renounceable offer by SlMftl of HPl Bonds with warrants attached on the basts of J500 Bonds for 1.000 HPl shores held at par Ex-date: Aug IS Books dose; Aug 2537 words
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Article301 1988-08-20 16 Company RIGHTS ISSUE *> A M D B One-for-four $0 50 per share C 1 Holdings 27 million loon stocks in the rotio of $3 loon stock for every five ordinary Q shores held Duto Cons One-for-one $1.10 per shore ir F N Two-for-five $3 00 per shore301 words
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Article150 1988-08-20 16 Th« UNITED MALACCA (RUBBER ESTATES, Ber•had: 74th AGM at No 8H. '.Jalan Laksamana Cheng •Ho. Malacca, today, Aug 20. !at noon. •THE SUNGEI BESI Mines Malaysia Barhad: 12th 'AGM at the PNB Theatrette, '2nd Floor, Menara PNB. '201A, Jalan Tun Razak, .***** Kuala Lumpur, on Monday, Aug 22150 words
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Article313 1988-08-20 16 Managers' prices UOB Management for Aug 20 22 Untfund Untbond 094 101 0 94 03% Singapore Unit Trust The Commerce 1 00 107 MARA-Bumiputra 656 The Savings fund S pore Prog Fund S pore Sec Fund 088 094 first Bputra 651 0*2 066 046 0 71Second B'putro Third313 words
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Article, Illustration675 1988-08-20 16 LONG SHIH ROME - by LONG SHIH ROME SHARE PRICES closed weaker yesterday as market sentiment remained clouded by uncertain overseas markets and the lack of strong local leads. Apart from Tokyo, which is approaching the end of the holiday season, Wall Street and Hongkong put up675 words
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Article5298 1988-08-20 16 Tel Gr's Gr's 1 988 Low Last Dlv Dlv rid Nat Vol Dav Last < 2uote High Cod* Company Sal* cr- Cw PIE fOOO) High Low Buyer Sellei SECTION ONfe MDUSTRIAL ft COMMERCIAL 141 95 t e 1000 Ac ma 121 unch 1 ON 2.4 08 50.45,298 words
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SES/KLSE
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Article, Illustration4056 1988-08-20 17 SELLERS continued to dominate trading on the Kuaia Lumpur stock market yesterday and prices retreated for the seventh consecutive day. Trading was subdued as dabblers maintained their cautious stance. The market started on an encouraging note with share prices slightly above their overnight4,056 words
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Article491 1988-08-20 17 Cwrront Ea Book* Data Total tor Total lor poymom dot* ctooo poyoblo Donor loot poor Alox Hldgs 6%(bl Aug 30 Sep 9 Sep 26 6% 6% ftoftj Kowoo 5% 10 Jul 27 Aug II Aug 22 20% 3% Aug 19 Sop 2 Sep 29 7% 5% c c491 words
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Article576 1988-08-20 17 BONDS, LOANS WARRANTS Company E*p*ry/ t Conversion parlod Mereet Conversion term tar one ordinary data <%> payable •hare Chuon Hup Wrt» 1991 Anytime on or ofter Mar 1987 1.6 warrants plus $1 60 cash until Dec 31. 1991 Oty Dev Bonds 1994 5% Feb 1 City Dev Wm Aug 1576 words
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323 1988-08-20 17 Bernama SOUTH PACIFIC Textile Industries (SPTI) is to set up a fully-integrated textile factory in Mauritius involving an investment of Mslo million. It will be the first Malaysian concern to invest in a manufacturing industry in the island nation located some 2.000 kmBernama - 323 words
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166 1988-08-20 17 Bernama LAM SOON HUAT Development Bhd (LSHD). the property developer, is on the look-out for land in the Klang Valley. Executive chairman Datuk Lee Shin Cheng said yesterday properties developed in the Klang Valley were "more saleable with the right pricing".Bernama - 166 words
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Page 17 Advertisements
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Advertisement7 1988-08-20 17 manage. BT shows you how every Monday7 words
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REGIONAL MARKETS
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Article769 1988-08-20 18 New strategy directed at investment Reuter SUMITOMO CORP, one of Japan's top four trading companies, is undergoing a radical change from merchant to manager, said Mitsuharu Ishii, general manager of Sumitomo's planning and coordination department. That means that while Sumitomo men will continue to probe remoteReuter - 769 words
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Article, Illustration324 1988-08-20 18 Reuter SOME JAPANESE electrical firms have revised upward their forecasts for current profits in fiscal 1988/89 due to higher capital spending and strong, non-inflationary economic growth, and others are expected to follow suit, industry analysts said. Fuji Electric Co Ltd, a maker of vendingReuter - 324 words
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112 1988-08-20 18 AFP DAIWA Securities Co and Yamaichi Securities Co, two of the major four Japanese securities firms, said on Thursday that they had obtained clearing membership at the Chicago Board of Trade. The membership will allow Daiwa Securities America Co and Yamaichi International America Co toAFP - 112 words
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Article89 1988-08-20 18 Reuter SHAREHOLDERS of Henderson Land Development Co Ltd and its affiliate. Wing Tai Development Co Ltd. have approved a restructuring plan for the group. Trading in the companies' shares was scheduled to resume yesterday after being suspended on Aug 12. Henderson traded on Aug 11 at HKS4.9O andReuter - 89 words
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779 1988-08-20 18 Reuter DRINKERS HAVE chosen Asahi Breweries Ltd as champion in the biggest battle Japan's brewing industry has fought for decades. but the tastebud war still rages, analysts said. Asahi's "Super Dry" has emerged as the toast of Tokyo's summer, eclipsing similar beers launchedReuter - 779 words
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Article, Illustration589 1988-08-20 18 Tokyo Reuter TOKYO SHARE prices closed near the day's highs in brisk trade yesterday as the summer holiday season tapered off, but the upward momentum was stifled by some profit-taking ahead of the weekend, brokers said. "We will continue to see the concentration mainly on high technologyReuter - 589 words
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Article, Illustration536 1988-08-20 18 Australia Reuter AUSTRALIAN STOCKS yesterday advanced for the third consecutive session in moderately strong trading, particularly in blue chip stocks, brokers said Most of the gains were made in the morning and the market's rise was based largely on technical factors with some pre-budget nervousness keeping theReuter - 536 words
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Article, Illustration1437 1988-08-20 18 Hongkong HONGKONG STOCKS were slightly higher yesterday on improved volume despite a lack of news, brokers said. The Hang Seng Index gained 8.34 points to 2.579.75 while the Hong Kong Index was up 5.59 at 1.703.10. Turnover totalled HK$443 69 million against HK5674.56 million on Thursday. When1,437 words
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Article360 1988-08-20 18 Reuter TAIWAN STOCK prices logged another strong gain yesterday in a day of hectic trading that set a record for daily turnover. dealers said. The weighted index rose 155.3 points, or 1.9 per cent, to close at 7,973.76. compared with Thursday's 7.818.46 close. Turnover was NT558.28 billion,Reuter - 360 words
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Article172 1988-08-20 18 Reuter THE SECURITIES Exchange of Thailand Index fell 4.67 points to 441.66 yesterday on a turnover of 5,956,611 shares worth 426.35 million baht. Reuter AUG 1* BAMT Ao Kham Thai 430 -a Ayudhya Investment 430 -8 Bangkok Agro-lnd 109 unch Bangkok Bank 317 -2 BankReuter - 172 words
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Article157 1988-08-20 18 SHARE PRICES in Manila yesterday slipped on late profit-taking following early gains that were triggered by reports of pentane gas and oil stain shows at the Palawan Verde I well drill site, brokers said. "There was a spillover of interest from yesterday and then came confirmation of the157 words
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Article243 1988-08-20 18 Reuter SEOUL SHARE prices declined in moderate trading yesterday after inter-Korean parliamentary talks made little progress, brokers said. "Investors were disappointed with the lack of progress at the parliamentary talks between North and South Korea." one broker said. Lawmakers from North and South Korea met atReuter - 243 words
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Article150 1988-08-20 18 SHARE PRICES rose in Bombay for the third successive day yesterday after heavy buying by state-owned financial institutions, brokers said. "The sustained institutional support has injected vigour into the market and investor demand has started trickling in,' said one broker. Sentiment was also helped by anticipated150 words
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Article135 1988-08-20 18 Reuter THE SHARE market ended the week on a buoyant note yesterday, supported largely by a sharp increase in the price of Goodman Fielder Wattie shares, brokers said They said investors seemed relieved that GFW's bid for English food company Ranks Hovis McDougall might not nowReuter - 135 words
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WORLD MARKETS
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Article, Illustration779 1988-08-20 19 New York Reuter US STOCKS finished marginally higher on Thursday in mostly directionless and subdued trading. Analysts called the gains, which mirrored Wednesday's meagre four-point rise, mainly technical. They said the market was due for an upswing after falling sharply last week. "The market got oversoldReuter - 779 words
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Article, Illustration1000 1988-08-20 19 London Reuter LONDON SHARE prices opened yesterday with a firmer bias in quiet trading after New York and Tokyo posted modest gains. Dealers said trading was expected to be light, with prices holding within a narrow range in the absence of new bid developments. NoReuter - 1,000 words
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Article1488 1988-08-20 19 Reuter ZURICH: The stock market recovered from a slightly lower opening to close higher yesterday, dealers said. Insurances and financial holdings drove the market higher while banks traded mixed with a slightly lower bias, they added. Among insurances. Baloise edged up 300 to 2.150 Swiss francs whileReuter - 1,488 words
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156 1988-08-20 19 Reuter SWISSAIR Schweizerische Luftverkehr AG is still interested in the possibility of taking a stake in Aerolineas Argentines, a Swissair spokesman said. "We are still interested and are awaiting developments." he said Scandinavian Airlines System (SAS) and Aerolineas signed an accord last ThursdayReuter - 156 words
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72 1988-08-20 19 Reuter BAT INDUSTRIES PLC confirmed that its merger talks with Farmers Group Inc were continuing but said it would not comment on their progress Earlier. BAT extended its tender offer of US$63 a share for all Farmers Group shares but did not say whether itReuter - 72 words
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687 1988-08-20 19 e*on Reuter EXXON CORP. which has trimmed staff and sold non-oil businesses, has US$2 billion in cash to expand its oil holdings and profit in a period of depressed oil prices, industry analysts say. "There's a tendency among investors to flee to ExxonReuter - 687 words
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363 1988-08-20 19 AFP WHIRLPOOL Corporation has announced plans to acquire a majority interest in the home appliance division of the Dutch conglomerate Philips in a deal that would make the US company the largest manufacturer of appliances in the world. The two companiesAFP - 363 words
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Article223 1988-08-20 19 Reuter AIRBUS INDUSTRIE will decide by the end of this year whether to build a stretched version of its new short-to-medium haul A 320 airliner, a spokesman said. "We expect to make a decision ir. December." The new "A 320 Stretch", carrying about 35 passengers moreReuter - 223 words
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Page 19 Advertisements
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Advertisement430 1988-08-20 19 VOLUNTARY LIQUIDATION) At ftn Extraordinary General Meeting of the members of CONTRACTORS EQUIPMENT BUPPLIEB PTE LTD duly convened and held at 10 Jalan Beear #10-05. Sim Llm Tower, Singapore 0630 on 18th August 1968 the following resolutions set out below were duly passed:— Resolved that the Company be wound up430 words
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Advertisement286 1988-08-20 19 THE COMPANIES ACT, CAP. 50 WEAVES FURNISHING PTE LTD (In Voluntary Liquidation) At an Extraordinary General Meeting of Weaves Furnishing Pte Ltd duly convened and held on Friday, 19 August 1968, the following special resolution was passed: Wlndlng Up It was resolved that the Company be wound up voluntarily pursuant286 words
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Advertisement465 1988-08-20 19 IN THE MATTER OF THE COMPANIES ACT. CAP. 90 AND MANAGEMENT SERVICE PTE LTD (In Member*' Voluntary c Liquidation) At an Extraordinary General Meeting of the above-,; named company duly convened and held at SO Jln.~ Sultan #21-04 Jalan Sultan Centre. Singapore 0719 off 17th day of August 1968 the465 words
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Article, Illustration661 1988-08-20 20 AMY BALAN - By AMY BALAN MING COURT Hotel, an Orchard Road landmark when built 18 years ago but which now stands in the shadow of newer hotels in the tourist belt, is to be torn down by Ng Teng Fong. In its661 words
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Article, Illustration438 1988-08-20 20 TONG SUIT CHEE - By TONG SUIT CHEE HOLIDAY-MAKERS headed for Sentosa in record numbers in the last financial year. A total of 2.1 million people visited the resort island in the year ending March 1988, due mainly to new attractions. The figure is a 25.2-per-cent jump438 words
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408 1988-08-20 20 AP, AFP ATTORNEY GENERAL Maung Maung was named yesterday as chairman of Burma's ruling party, the country's first civilian leader in 26 years. Analysts described the choice of Mr Maung Maung to succeed Mr Sein Lwin, who resigned a week ago afterAP,; AFP - 408 words
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Article277 1988-08-20 20 Bernama MALAYSIAN Education Minister Anwar Ibrahim said yesterday the aim of the opposition Democratic Action Party (DAP) in cooperating with independent candidate Datuk Shahrir Abdul Samad in the Johor Baru parliamentary by-election is to see Umno and the Malays at odds. Speaking in JohorBernama - 277 words
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236 1988-08-20 20 UPI TAX EVASION is epidemic in China, where half of all state enterprises and more than 80 per cent of private businesses dodge payment and tax collectors may be butchered for their pains, the official Xinhua news agency said yesterday. "The practice is soUPI - 236 words
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Article72 1988-08-20 20 AFP THE INDONESIAN government has appointed a civilian to head the state oil company Pertamina, the country's largest corporation and the most strategic for its economy. Faisal Abda'oe. who will be 58 on Tuesday, yesterday became the first president director of the oil giant who didAFP - 72 words
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292 1988-08-20 20 WILLIAM CHIA - By WILLIAM CHIA CREDITORS are free to wind up debt-ridden electrical company Wusang Engineering following a High Court order yesterday removing its judicial management shelter. High Court Judge Chan Sek Keong granted the discharge after the judicial managers. Messrs Don Ho and Wee292 words
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222 1988-08-20 20 AP SOUTH KOREAN opposition leader Kim Dae-Jung said in Manila yesterday that the same popular movement that drove Ferdinand Marcos from power would help bring democracy to South Korea. "In Korea, too. People Power is growing," said Kim, who was in ManilaAP - 222 words
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Article90 1988-08-20 20 COMEX gold futures were fractionally higher in lacklustre early dealings yesterday.' October gold rose US$O.5O to U*****.80 an ounce after trading narrowly between U*****.20 and U*****.50. Activity was subdued in the absence of fresh news and with many European dealers on holiday. Meanwhile, Comex silver futures90 words
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LATE FILE
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Article39 1988-08-20 20 THE SENIOR MINISTER in the Prime Minister's Office, Mr S Rajaratnam, will represent Singapore at the funeral of President Zia ul-Haq of Pakistan in Rawalpindi, the Ministry of Foreign Affairs announced late last night.39 words
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Article37 1988-08-20 20 AFP FORMER Philippine president Ferdinand Marcos asked a court in Manila yesterday to let him return from exile in Hawaii to answer charges that he stole billions of dollars during his rule.AFP - 37 words
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Article38 1988-08-20 20 UPI SOLIDARITY leader Lech Walesa yesterday warned Polish authorities, hit by the worst labor unrest in eight years, that the Lenin Shipyard in Gdansk will strike unless the banned union is legalised by Monday. UPIUPI - 38 words
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Article36 1988-08-20 20 AP SOUTH and North Korean delegates are planning to meet again today to discuss next month's Olympic Games and on easing tension after yesterday s talks failed to make progress. APAP - 36 words
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Article43 1988-08-20 20 Reuter MORE THAN 600 victims of Josef Stalin's purges have been cleared of the charges for which they were shot or sent to almost certain death in Siberian labour camps, according to the Communist Party newspaper Pravda yesterday. ReuterReuter - 43 words
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Article46 1988-08-20 20 UPI AIR TRAVEL is likely to increase by an average 7 per cent a year over the next five years with the biggest growth in Asia and the Pacific, according to the International Air Transport Association (lATA) yesterday. UPIUPI - 46 words
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Page 20 Advertisements
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Advertisement6 1988-08-20 20 Burmese government promises incentives, PAGE 36 words
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Advertisement154 1988-08-20 20 BUSINESS TIMES MCI (P) 95/12/87 i f jj -v J W H V I. f Kual~ r j You said yes to all three' questions? Then you could be just the kind of person Business Times We are looking lor bright young graduates with an urge to write about business.154 words
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