The Business Times, 22 July 1989
1989-07-22
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The Business Times
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Title Section12 1989-07-22 1 BUSINESS TIMES MCI (P) 45/12/88 Weekend Edition, July 22-23 1989 75 CENTS12 words
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571 1989-07-22 1 ELAINE KOH - BULK OF PROFITS CAME FROM SALE OF UOB SHARES By ELAINE KOH UNITEO OVERSEAS Land, the property arm of the United Overseas Bank group, has turned in a sparkling set of results for the first five months, with after-tax profit standing571 words
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422 1989-07-22 1 LEE HAN SHIH - By LEE HAN SHIH BIQ CHANGES are in store for listed United Overseas Land which recently embarked on a major programme of buying and selling properties. Sources said UOL had put its United House on the market for a minimum of $27422 words
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159 1989-07-22 1 AFP A PHILIPPINE mining corporation and a Singapore-based investment firm have teamed up to build a US$ll million glazed-tile plant near Manila, a company official aaid yesterday. The still-unnamed tile company will be the first project of First Lepanto, a Joint venture between LepantoAFP - 159 words
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418 1989-07-22 1 JEFFREY TSANG - By JEFFREY TSANG THE GROUNDWORK for leadfree petrol in Singapore is being laid. In the past one week, the Ministry for the Environment had held separate meetings with the oil and motor industries to discuss the implications of such a move. It is understood that418 words
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264 1989-07-22 1 HARISH MEHTA - By HARISH MEHTA THE PHILIPPINE government should allow an extension of the US military bases, preferably within five years, but in no case for more than 10 years from the termination date of 1991, Philippine Vice-President Salvador Laurel said yesterday. Donning his "other264 words
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Article129 1989-07-22 1 THE US DOLLAR ended sharply higher against the yen in Tokyo yesterday, following an active sale of yen for European currencies. Dealers said the yen came under selling preaaure on mounting political jitters in Japan ahead of the Upper House election tomorrow. Opinion polls showed129 words
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Article47 1989-07-22 1 Reuter US SHARE PRICES were easier in early trading yesterday, as investors continued to take profits following the market's late reversal on Thursday. Weak bond prices also weighed down stocks. The Dow fell eight to 2567. Decliners led gainers by about five to one. ReuterReuter - 47 words
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Article51 1989-07-22 1 AP LONDON share pricee were easier around midday yeeterday, but near their intraday peaks, aa players took profits after an active week of trading. At 1112 QMT, the Financial Times-Stock Exchange 100-ehare index was off 10.5 points, or 0.46 per cent at 2.282.4, near its beet level of 2.283.2.AP - 51 words
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Article, Illustration228 1989-07-22 1 REGIONAL MARKETS ended mixed yesterday with Tokyo and Sydney making headway and Hongkong and Singapore toeing ground. The Straits Times industrials Index in Slngepsrs lost another 3.48 points to close at 1.361.91 while the Businees Times Composite Index lost 7.00 points to 1,248.27. Falls led rises228 words
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Article150 1989-07-22 1 Slock Indices ST Muatriob Index 1361.91 BT CompodN Index 1248.27 (-7.49 NST Industrial Index 2361.34 (-7.09) Mtf I nK nang wjoqx 2495.74 (-47.34) Tokyo Nkkii Avscoq# 33,899.43 *****) T| i 4« ■I I AM A M 1- oyonty An-v^rotKjnti 1600* 4.9) Tlwradoy New York (Dow Jonot) *****9150 words
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Page 1 Advertisements
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Advertisement279 1989-07-22 1 Nikon Tho World's Flnoot Photographic Systsm. Where mountains meet Page One Help is what he needs Page Two The Singaporean's tell-tale signs Page Three Graves: a historic region revitalised Page Four When the test is deadlier than tt* disease Page Five The roots of Kuo Pao Kun Page Six Summer279 words
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Advertisement168 1989-07-22 1 &}'*>~;{}?[_'[`]-{/!/`}]&,+}{_] Full report, PAGE Hiqloml Mkts, PAQE 10 World Mkts, PAGE 11 Since 1735 there has never been a quartz Blancpain watch. And there never will be. M fsf j j p ■w Model shown: 6595 1418 58 AN INVITATION To view the latest Blancpain Collection at: Hour Glass Scotts168 words
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HOME NEWS
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447 1989-07-22 2 JOHN TAN - Colony to be promoted with S-E Asian destinations By JOHN TAN WITH CHINA'S attractiveness to tourists badly affected by its political problems, Hongkong has decided to find a new peg for its tourist promotion efforts. The Hongkong Tourist Association (HKTA) will now447 words
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Article, Illustration358 1989-07-22 2 SHOEB KAGDA - By SHOEB KAGDA SOMKID KAMJAN, the illegal Thai worker whose conviction sparked off a series of appeals from the Thai government and other organisations, yesterday urged all fellow illegal workers still in Singapore to give themselves up. Somkid, who yesterday morning withdrew358 words
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544 1989-07-22 2 ZHOU MEI - By ZHOU MEI IN SUPPORT of the national objective of increasing productivity and to foeter innovation as part and parcel of the local industrial culture, the Institute of Engineers Singapore (lES) wants to do its part by launching an lES Innovators'544 words
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Article282 1989-07-22 2 MENON JAYARAM - By MENON JAYARAM THE THAI Board of Investment is keen to attract investors from Singapore's electronic industry. At a seminar yesterday organised by the International Procurement Management Association of Singapore (IMPAS), Mr Kavitanon, deputy secretary general of Thailand's Board of Investment, outlined his country's attractiveness282 words
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435 1989-07-22 2 SUZANNE SOH - By SUZANNE SOH YET ANOTHER Orchard Road shopping centre is getting a face-lift in order to meet the competition along Singapore's premier retail strip. The 15-year old Orchard Towers is to get a lush tropical look. The Orchard Towers management corporation is spending $4435 words
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Article49 1989-07-22 2 IN BT's article "MAA sells 12.8 m MBf Finance shares" yesterday, it was reported that MBf Finance has proposed a one-for-two rights issue of 147.5 million 50-sen shares at 80 sen each. The issue price should be 50 sen apiece. We are sorry for the error.49 words
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324 1989-07-22 2 SINGAPORE has the distinct advantage in the geography of tourism as a "jumping-off" point for other parts of the region. This position is strengthened by the network of air routes, with Changi Airport at its centre, which fans out to countries in324 words
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Article148 1989-07-22 2 THE CHANCELLOR of Sheffield University, Lord Dainton. has been appointed the Lee Kuan Yew Distinguished Visitor from July 24 to Aug 2. He will give a lecture entitled "Knowledge is our Destiny and Education is its Tool" at the National University of Singapore (NUS) on148 words
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Article, Illustration319 1989-07-22 2 JOCELYN TOH - By JOCELYN TOH THE LOWER costs that come with deregulation in the travel and tourist industry encourage more peopie to travel, and this is clearly beneficial to the industry. Dr Cheong Choong Kong, managing director of Singapore Airlines, thus welcomes319 words
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Article1316 1989-07-22 2 AT CONVENTIONAL WHARVES VMMJ UJMI MA AMIIMI AAHAafcw vessw voy fkj dwiiaiiiim utptnur Kappal Wharvaa Art* Oc 1 KI7 otoagpda 2107/1300 CtAMtw 24 W KIS otoaguda 2107/ 0600 Equator Groc 5/89E K20 oioaguda 2137/ 1*30 Kop Sxrnov I0/89W COT otoagtida 2307/0600 Koto lm» E007 K32 aioagPda 2107/1,316 words
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Page 2 Miscellaneous
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Miscellaneous8 1989-07-22 2 Bnstcw: Famlilhcfcdas IS SiftiMG Heße? ■JT 2t l£8 words
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ASIA-PACIFIC
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474 1989-07-22 3 Reuter CORPORATE JAPAN is not happy with the ruling Liberal Democratic Party theae days. It is even less happy about the prospect of the LOP losing power. "People just don't realise the price they will have to pay if the LDP is defeated,"Reuter - 474 words
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189 1989-07-22 3 Reuter, AFP CHINA'S Deputy Foreign Minister Liu Shuxin arrived in Thailand on Thursday, the first high level Chinese trip to a South-east Asian state since last month's bloody crackdown in Beijing. Mr Liu met Thai Foreign Minister Siddhi Savetsila shortly after arriving forReuter,; AFP - 189 words
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342 1989-07-22 3 Reuter CHINA will not accept speededup democratic reform In Hongkong before 1997 when it resumes control over the British colony, a prominent Hongkong lawyer said yesterday. "The speeding up of political changes would lead to greater confrontation with China," Lo Tak-Shing said. "IReuter - 342 words
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169 1989-07-22 3 AFP CHINESE and Thai businessmen have joined hands in investing about 1.5 billion baht (US$6O million) to construct a first-class hotel in Bangkok, a senior Thai executive said. Suwan Veeraphol, managing director of Bridge View Co, said on Thursday that his companyAFP - 169 words
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94 1989-07-22 3 AFP JAPAN Air Lines (JAL) said on Thursday it carried 407 tons of imported goods from China in June, up 26 per cent from a year earlier, despite turmoil in the wake of Beijing's crackdown on pro-democracy protesters. JAL officials attributed the sharpAFP - 94 words
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Article, Illustration622 1989-07-22 3 HARISH MEHTA - 'OTHER NATIONAL PROBLEMS SHOULD BE SOLVED FIRST By HARISH MEHTA PHILIPPINE Vic«-PrMid«nt Salvador Laurel has said that at the moment he is "not thinking of running for president in the 1982 elections" and there are other national problems which first require622 words
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331 1989-07-22 3 Reuter INDIAN Finance Minister Shankarrao Chavan said India would give more incentives to foreign investors to help offset rapidly growing external debt. "We are for equity participation by foreign investors, provided it is in an area of newReuter - 331 words
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108 1989-07-22 3 Reuter A LONG-RUNNING STRIKE at the J Seoul office of a British bank haa ended after employees and man- agement agreed to a 45 per cent pay rise, union members sakf yesterday. Barclays Bank and its employees reached agreement on Thursdsy to endReuter - 108 words
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Page 3 Advertisements
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Advertisement139 1989-07-22 3 m bg i r 7p[ l* j« itt^ 1 ■35 rh ;sf. n£ .^u ~^r ft > t=j < i tg *3&g3#BSp 1 Win tx. \m ix m !ffi "t mi? <>r«,v izf'< <tje; lid 1 5 *i» i" H II? in Bfi z M mm tt r* fl'S i**B139 words
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REST OF THE WORLD
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499 1989-07-22 4 DIRECT INVESTMENT TAKES UP MAJOR SHARE AP THE FLOW of foreign money into the United States has been rising this year, the Federal Reserve Board reported on Thursday. "Preliminary information on the early months of 1969 suggests an increase in net privateAP - 499 words
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245 1989-07-22 4 Reuter A SENIOR US official told Congress on Thursday that an in-ter-agency effort to reform Japanese business practices might take up to five years before it produced any significant drop in the American trade deficit with Japan. David Mulford, UnderReuter - 245 words
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352 1989-07-22 4 Reuter THE UNITED STATES on Thursday lost an appeal before the World Court in which it sought compensation in a 21 year-old commercial dispute with Italy. It was the first time Washington had agreed to have a case involving it heard before theReuter - 352 words
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Article, Illustration54 1989-07-22 4 A HOMELESS MAN eating food served illegally In defiance of a court order at Civic Center, San Francisco, on July 17. Ten people were arrested for serving food in a life-saving act to the homeless. The court had ruled that the food was not prepared or54 words
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261 1989-07-22 4 Reuter BELGIUM on Thursday cleared the way for the European Community to consider Austria's application for membership after blocking the process because it feared Vienna's neutrality could obstruct EC integration. EC officials said that at a meeting of the 12 Community ambassadors, BelgiumReuter - 261 words
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Article103 1989-07-22 4 Reuter WEST GERMAN Foreign Minister Hans Dietrich Genscher suffered a mild heart attack on Thursday and was taken to hospital in Bonn, his ministry said. Other sources, who asked not to be identified, said that Mr Genscher, 62, suffered the attack at home in the eveningReuter - 103 words
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201 1989-07-22 4 AP THE GOVERNMENT of Argentine President Carlos Menem plans to merge the state oil, coal and gas companies in an effort to cut losses that may total a combined US$l.5 billion this year. The plans and projected losses were announced this weekAP - 201 words
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521 1989-07-22 4 Reuter EUROPEAN computer firms seem likely to benefit more than their American rivals from a US decision to ease curbs on computer exports to communist countries. "There are a number of European companies that could have an early foot in the door becauseReuter - 521 words
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390 1989-07-22 4 AP JAPAN is determined to dominate more area* of Weet European business, finance and technology, and the European Community (EC) must meet the challenge, according to a House of Lords report yesterday. The Lords committee on the 12-natk>n EC. in its reportAP - 390 words
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156 1989-07-22 4 Reuter THE SOVIET UNION has withdrawn 11,000 soldiers and over 2,100 tanks from East Germany so far as part of unilateral troop cuts snnounced last year, the official East German news agency AON said on Thursday. It quoted General Boris Snetkov, commander ofReuter - 156 words
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Article76 1989-07-22 4 AFP THE ENGLISH tourist industry earned a record sum of £11.8 billion, (US$l9 billion) in 1988, 5 per cent more than in 1987, the president of the English Tourist Board. Duncan Bluck announced at the presentation of the annual report in London on Thursday. NearlyAFP - 76 words
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Article1062 1989-07-22 4 ARRIVALS Operator **—-t~~ JlrYICi Local From number ttm* MAS MH75A 0035 KUL SU soon 0040 LAX/NTT MAS MH601 0130 KUL CAL Q333 0405 TPC SU SQ401 0555 CM8 SU SQ409 0610 MAA CAl OFfY 0715 TPC MAU MK746 0725 MMJ SU SQ023 0755 AMS/BOM SVA SV398 08351,062 words
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Page 4 Advertisements
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Advertisement38 1989-07-22 4 The bwinm ptfin'i Alia cmy Tto4q>, TharMbr. Saturday and Swrfq>. Leaviag Cktati Airport at ihOS hoon and yiiiif A- rftCHfirow cany cm iwicwini morning Ctllyour Tnvci Age* or Air C*mk M ?MtSSS. A BREA TH OF FRESH AIR38 words
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Page 4 Miscellaneous
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Miscellaneous78 1989-07-22 4 Doonesbury sir, I've GIVEN A LOT OF THOUGHT 70 OUR. HONEYMOON, WELL, YOU CAN SENPBACKTHE BROCHURES, HONEY. THERE IS NO i AS ES 1 If THB ONLY REASONWERE GETTING MAFRJB? IS SO YOU CAN ACQUIRE DIPLOMATIC IMMUNITY AND LEAVE THE COUNTRY! WHEN WE 6E7 HOME, ITS OVBR! GOT IT* GOOP!78 words
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Miscellaneous218 1989-07-22 4 Global tamparaturaa and waathar conditions on July 20 CHy Max/ Nota Mln CO Amsterdam 25/18 Oear Atom 32/21 Cloudy Auckland 13/04 Cloudy Bahrain 42/30 Clear Bangkok 32/27 Our Barbodos 30/25 Oowdy Baling 30/22 Ooar Beirut 26/21 Clear Belgrade 24/12 Cleor Berlin 20/12 Cloudy Bermuda 30/27 Cloudy Bogota 17/03 Cloudy Brisbane218 words
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BANKING AND FINANCE
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368 1989-07-22 5 Reuter RECENT LIBERALISATION is expected to propel Taiwan closer to its dream of becoming a regional financial centre like Hongkong or Singapore, bankers in Taiwan said yesterday. They said a new banking law and permission for three branches of international brokerage housesReuter - 368 words
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129 1989-07-22 5 AFP THAILAND and its communist neighbour Laos will open the first joint-venture commercial bank in the Laotian capital in early October, the state-run Thai News Agency (TNA) said on Thursday. TNA quoted an official of the Bangkok-based Union Bank, Pravit Kitpaisarn, as saying that 70 perAFP - 129 words
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500 1989-07-22 5 SOH TIANG KENGt - By SOH TIANG KENGt SINGAPORE investors and bankers have been invited to subscribe to the US$2OO million Eurodollar variable rate notes (VRNs) issued by Great Western Financial Corporation, one of America's largest savings and loan institutions. The VRN, which500 words
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Article, Illustration481 1989-07-22 5 HONG LEE TIAM - N M Rothschild, CS First Boston clinch deals By HONG LEE TIAM AMCOL HOLDINGS and Camber Holding Re Ltd, the buyers of Octagon Building and Chateau at Scotts respectively, have lined up two loan packages totalling $138 million to finance their481 words
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COMMODITIES
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Article240 1989-07-22 5 Reuter CBT SOYBEANS ended mostly lower on the weather on Thursday. Rains over the US Midwest growing region and a six- to 10-day outlook for normal precipitation prompted selling on prospects of a healthy crop. Old-crop August led declines, off 6-1/4 cents per bushel at 6.81-1/4 after July expiredReuter - 240 words
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Article121 1989-07-22 5 Reuter CBT WHEAT futures held gains while other grain and soy complex futures faltered on Thursday Traders cited weather conditions as a friendly influence on prices. It is forecast to be hot and dry in the US, Canada and Russian growing areas, said Dean Witter grains analyst Vk: Lespinasse.Reuter - 121 words
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Article136 1989-07-22 5 Telerate Singapore prices remained unchanged as a lack of fresh news helped maintain market stability. CST-180 buyers and sellers were $3-4 mt apart, with some sellers at $94 mt fob Sing for Aug availabilities. An independent reportedly sold CST-180 at $90.5 mt fob Sing. Bunker CST-180Telerate - 136 words
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Article121 1989-07-22 5 Reuter FURTHER ad-round buying demand halpad tha Kuala Lumpur Tin Marfcat (KLTM) price rtaa fhre aan to MS2S.O6 kg yeelerday, brokara aatd. Tha opanlng bida of 116 tonnaa against offers of 71 saw tha prtca pick up slightly, with continued short-covering from tha Eurporaan and local traders noted.Reuter - 121 words
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Article321 1989-07-22 5 SMGAPORE: Rubber prices closed higher yesterday, with August 1 RSS buyer quoted at 177.00 cents a kg. up 2.50 cents from Thursday's cloee. Dealers said prices rose further in the afternoon on light buying and short-cov-ering ahead of the weekend. Trading was thin as operators adopted a wait-and-see attitude.321 words
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Article193 1989-07-22 5 Chinese Produce Exchange Sellers' noon dosing prices on July 21 (SS/100 kg) Coconut oil Bulk FOB 103.00 Old drum FOB 113.00 New drum FOB 117.00 Copra Mixed (loose) 59.00 sellers Pepper Muntok white FOB NIW 497-50 Sarawak whit* FOB faq NLW 487.50 Sarawak spedal black FOB NLW 335.00193 words
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Article257 1989-07-22 5 London Commodity Exchange Buyer/Seller closing prices on July 20 (£/tonne unless specified). Previous closing prices in parenthesis. Coffee Basis In-storo London, v«ll«rs option OF London Jul 825/835 (821/824) High/Low 838/821 Sop 821/834 (823/825) High/Low 834/821 Solos (2913) Cocoa Jul 858/863 (861/861) High/Low 865/854 Sop 879/880 (879/880) hflgh/Low 882/869257 words
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Article355 1989-07-22 5 HONGKONG: Gold yesterday closed firmer in moderate trade on short-covering by Swiss traders in the afternoon, dealers said. Bullion ended at U*****.70/372.20 an ounce, near the day's high of U*****.90/372.40. against an initial U*****.80/371.30 and New York's U*****.00/ 50 close. Dealers said they expected gold to trade between355 words
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Article541 1989-07-22 5 MALAYSIAN CRUDE PALM OIL prices closed lower on pre-weekend selling and lack of follow-through buying yesterday, in line with the easiness in palm oil futures, dealers said. Values were locked in a tight range as the market lacked direction after India's fresh palm oil purchases had supported prices541 words
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Article291 1989-07-22 5 RAS prices m s c •nto/kg, FOB In Mm 1 NOON CLOSE Bwyon Sol Ion ftuyon bit 1 RSS Prompt 177 JO 178 JON 178.00 179.00N bit 1 RSS Aug 176.00 177.00 177X30 177 JON In* 1 RSS Sop 177 JO 178J0 178.00 179XXJN bit 2 RSS291 words
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Article85 1989-07-22 5 (canti/kg) AUGUST 1989 SEPTEMBER 1989 (currant month) ■forwor ■d month) RAS NOON NOON (vytn 5 > n«n •vy«n SSI 30 150.00 153.00N 150J0 1 53 JON SSI 50 148.00 150.00N U«J0 150J0N MRELB Iwy«r> «i,n, r Bvyert WMw SMI CV 230.50 333.50N 333.50 234JON SMt I 33X0085 words
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MONEY AND EXCHANGES
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434 1989-07-22 6 Bernama THE PROPOSED establishment of an insurance ombudsman bureau in Malaysia will help enhance the image of the industry, which needs to be improved if it is to gain its rightful place in the financial system, the chairman of the MalaysianBernama - 434 words
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165 1989-07-22 6 Bernama BANK PEMBANGUNAN Malaysia Bhd (BPMB) has proved itself to be the fastest bank in Malaysia to launch the Aaean-Japan Development Fund (AJDF) loan scheme after having disbursed Ms4o million so far for various projects, chief executive Haji Nik Ibrahim Abdullah said. UnderBernama - 165 words
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Article1330 1989-07-22 6 SINGAPORE: Federal Reserve Chairman, Alan Greenspan's Hum-phrey-Hawkins testimony before Congress on Thursday turned out as most expectsd. While allowing that the balance of risk had shifted away from higher inflation, he also reiteratsd that it remained above the Fed's target band. Monetary policy now looks on hold, until1,330 words
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Article170 1989-07-22 6 Gold futures on July 20, 1989 100 tray ouncas; USS par troy ounce Opm Mfk Law •oMa M 371.30 371 JO 371.50 371.40 3.10 Aug 370.20 375.00 369.70 372.20 2.90 374J0 2.90 Oct 374.20 ***** 374.00 376.50 3.00 Dac 371.00 383 50 377.90 ***** 3.00 Fab 90170 words
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291 1989-07-22 6 AFP THE BANK OF JAPAN is concerned by the effect of the current political crisis on the yen and Tokyo financial markets, but believee traders have already taken into account a possible ruling party defeat in tomorelections. "The market haa alreadyAFP - 291 words
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Article513 1989-07-22 6 PROFIT-TAKING and long liquidation pushed Eurodollar futures lower across the board yesterday in fsirly moderate trading, dealers said. They said sentiment was undermined by expectations that the Federal Reserve will not ease credit in the near future, after it drained reserve® from the banking system on Thursday through four-day513 words
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Article288 1989-07-22 6 Reuter IMM CURRENCY FUTURES on Thursday ended a thinly-traded session higher, but off peaks. Currencies climbed in mid-morning as markets considered that Federal Reserve Chairman Alan Greenspan's Congressional testimony emphasised upcoming weakness in the US economy. He said Fed policy would focus on fending off a recession, which suggestedReuter - 288 words
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Article63 1989-07-22 6 THE OVERNIGHT rate on the Singapore money market waa unchanged at 5-1/4 per cent. The one-month rate waa ateo unchanged while two and three months rose by 1/16 point each. S$ IM rbank rat*» at itw < do** y**t»rda> orm mo Ow* Mi Omn^ 3 1/4 s 363 words
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Article115 1989-07-22 6 Treasury bills Period Iom m -i Ttfrtrooy s oowng Day's I cod# Maturity hd arm HK3H LOW 3 months IGM9128N 19.10J9 U3 3^» 3J2 3J0 6 month* tS*****V 18.01.90 4J01 3.96 3.96 3.96 1 y#or IYS9100F Arn ma ni n# 2445.90 lAMil 4.16 4.11 I 4.14 4.12115 words
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Article, Illustration161 1989-07-22 6 inivruai nk market ra Am (ofltor/bld) on July 21 us$ DM SWfC Y«n y n t 1/4 —t 1/3 l/U 1S/U IS/1* 11/1* 11/1* —t/1* f/1* 7/1* 14 a/a —14 i/a i4 i/i* ia is/1* 14 IS 7/B ia a/4 ia s/a ia i/a —us/a IS/I*—13/1* 7161 words
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Article991 1989-07-22 6 CURRENCY FUTURES OPTIONS MM It MMLiJyi (CM undoy, My 20, QMMPMM1PP1 1989 k Friday. Jutv 21. 1 VoV 1 DCUTPC 32 53 54 IHDft mk pnq •op n oom Ngi Lw Ml M pm imm Mi 5* 101 1*3 MM MM PM MM NM 9100 053 09S 1.19 OM991 words
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Article244 1989-07-22 6 ASIAN DOLLAR deposit rates ended at opening lev•la. themeelvea slightly down againet Thuredays cloaioo Dealers said US Fadaral Reaerve chairman Alan Qreenapan'a teatimony to Congreea that the Fed will continue to be cautioua about easing credit did not creata much impact on the market Short-datea and term244 words
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COMPANIES & STOCK MARKETS
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Article, Illustration442 1989-07-22 7 KEVIN GWEE - By KEVIN GWEE THE FAVOURABLE OUTLOOK of the Malaysian economy, especially in the construction sector, has prompted Pan Malaysia Cement Works Bhd (PMCW) to predict a better year ahead. In its tateet annual report for the year ended March 31, 1960, chairman Tan Sri442 words
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345 1989-07-22 7 MAGDALENE NG - By MAGDALENE NG LUM CHANG HOLDINGS is tapping the market for $17.04 million through a private placement of 13.8 million new 50-cents shares at $1.25 apiece. In an announcement yesterday. Lum Chang said the net proceeds from the proposed placement would be345 words
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191 1989-07-22 7 Bernama MARUICHI MALAYSIA Steel Tube Bhd has projected a group pre-tax profit of M 510.87 million or prospective gross earnings of 38.2 sen per share for the year ending Jan 31. 1000. These projections are based on the company's enlarged issued share capital of Mss2Bernama - 191 words
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Article253 1989-07-22 7 Company RIGHTS ISSUE Berjoya Corpn One-lorone M$l.30 per shore Ex-date: July 21 Books dose: Aug 4 Acceptance Payment: NYA CKuon Hup One-for-two unsecured Hooting rate* note* with one TSX at $1.05 per shore. Ex-date: June 9 Boots do** June 21 Acceptance A Fay newt: July 31 Hotel Prop253 words
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Article222 1989-07-22 7 Company RIGHTS ISSUE Akom Capital reduction from M$SI.56 to M$li.3la through a write down of M$l par *olu# to M|aZ). (o*ownd by thn contottdotio of flva of tha 20-tan shorn into xtn thora of M$1 aoch. Bghtt raua of Ihraa-for-ono M$0® Ayer Hitom Tin Ona-for-thr M Q JI222 words
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Article78 1989-07-22 7 MAQNUM CORPORATION said its subsidiary Empat Nombor Ekor (East Malaysia) Sdn Bhd (ENE) had on July 19 sold in the opan market 2.003.906 shares in Bandar Raya Developments Bhd representing 0.77 per cent of its issued capital for $5 million cash. The sale will give rise to an78 words
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Article465 1989-07-22 7 Currant Kx sr ss** Total tor •m yoor Total tar taal yoor Alox Htdg» Avimo 6 Stnbowonq Batw Kowon C K Tang n .|l| al V. rfOpfrTW D Koramat FAN G# Htdgs H Prop Bond* H Royal 11,,,-Itih Mtln rvormora rwio n nnhfuM Utlfl nor morn mwa Hoxza465 words
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307 1989-07-22 7 PROPERTY MAGNATE Nfl Teng Fong'e proposal to buy Holiday Inn On The Park in Kuala Lumpur for Ms3o million has been turned down by the Malaysian Foreign Investment Committee (FIC). As such, it is understood that the 12-storey, 180-room hotel in307 words
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521 1989-07-22 7 NST ARAB-MALAYSIAN First Property Trust Bhd (AMFPT) has received the approval of the Capital Issues Committee (CIC) for listing on the Kuala Lumpur Stock Exchange (KLSE), making it the first property trust in Malaysia to make its debut on the bourse. ItNST - 521 words
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SES
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Article, Illustration1100 1989-07-22 8 THE LOCAL MARKET closed I broadly lower yesterday with many blue chips and indexlinked stocks easing in lacklustre trading. The Straits Times Industrials Index continued to slip, dropping 3.48 points to 1,361.91, but off its day's low of 1,357.77. The Busi- ness Times Composite1,100 words
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Article307 1989-07-22 8 Managers' prices OCBC-SiMBL Investment for July 22 and 24 Savvri Capital Fund J -W 1.12 1 10 Sov«rs Trust fund Singapore Unit Trust Th« Coinrc* Th* Savings Fund 1 16 104 123 1 10 OUB Investment Mgt S'por* hog Fund 047 051 Union Global Fund® 088 on 101307 words
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Article68 1989-07-22 8 KILLINQHALL (M) BHD: 11th AGM at N0.49 Jalan Hang Lekiu, Kuala Lumpur, tomorrow, at 11am. GEORGE KENT (MALAYSIA) BERHAD: 38th AGM at Pointsettia 2. 2nd Floor, Petaling Jaya Hilton, Jalan Barat, Petaling Jaya, Selangor Darul Ehaan, on July 25. Tuesday, at 11am. I SPK-SENTOSA CORPORA'nOH BERHAD: 26th AGM68 words
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Article6135 1989-07-22 8 1M9 High Low Tol Cods Company Laat Ma +or» JIM n Vol rooo) Day Ugh L L am Bt Ml Quo lyor Sol Qr*o Qr*a to Dhf Mv Y*M Not lor Cw Wt M Cap 284 4554 87V4 66 72 95 18 55 97 96 86 716,135 words
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KLSE
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Article, Illustration3546 1989-07-22 9 MBT SHARE PRICES reversed three consecutive sessions of rises to close easier on the Kuala Lumpur stock market yesterday in less active trading. Brokers said it was just too tempting for operators not to take profits after a series of handsome gains. Following a mixed start,MBT - 3,546 words
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REGIONAL MARKETS
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399 1989-07-22 10 Reuter TAIWAN# huge underground investment houses, which last week froze operations following passage of a new banking law, are finding themselves trapped in a legal limbo. Legal and banking analysts on Thursday said the companies, some of which are worth hundreds ,of millions ofReuter - 399 words
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369 1989-07-22 10 Reuter TAIWAN'S largest underground investment firm is being probed for allegedly trying to solve financial difficulties by manipulating share prices on the stock market, officials said yesterday. A spokesman for the public prosecutor's office of the Taiwan High Court said government investigatorsReuter - 369 words
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266 1989-07-22 10 Reuter PHILIPPINE businessman Jesus Cabarrus, who previously owned the only nickel refinery in the Philippines before it was seized by state-owned banks, is to buy it back. Ramon Garcia, chief of the government's Asset Privatisation Trust (APT), said it would sign an accordReuter - 266 words
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124 1989-07-22 10 AFP HONGKONG-BASED Jardine Fleming International Holdings Corp hopes to begin mutual fund operations in the Philippines. Securities and Exchange Commissioner Rosario Lopez said that she had met on Thursday John Style, a Jardine Fleming executive. Mr Style said his firm hoped toAFP - 124 words
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Article, Illustration574 1989-07-22 10 Tokyo TOKYO share prices yesterday closed sharply higher after investment trusts conducted indexlinked buying programs and others jumped on the bost. They were expecting the market to pick up once tomorrow's Japanese Upper House parliamentary elections banish some political uncertainty. "The market will rebound even if574 words
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Article, Illustration509 1989-07-22 10 Australia THE Australian share market yesterday closed above the critical 1,600 level as a fall in the Australian dollar attracted overseas and domestic buying to the gold sector. A strong performance by market leader BHP also helped boost the market. The All Ordinaries Index closed 4.9 points509 words
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Article, Illustration1283 1989-07-22 10 Hongkong Reuter STOCKS yesterday ended lower on end-week profit-taking and market talk that the highest bid on a prime government land site was disappointingly low. The Hang Seng index fell 47.34 points on the day to 2,495.74. Brokers and analysts said rumours were surprisingly consistent that GreatReuter - 1,283 words
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Article184 1989-07-22 10 Reuter MANILA'S stock market yesterday continued to rise on generally bullish sentiment fuelled by anticipation of blue chip stock dividends, stable copper prices and speculation In oils. "There seems to be a new-found confidence in the market," said Ramon Viola, securities analyst at Citicorp Scrimfleour Vickers PhilippinesReuter - 184 words
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Article173 1989-07-22 10 Reuter SEOUL stocks yesterday closed mixed on a lack of fresh incentives. The composite stock index fell 3.01 points to 897.56. Volume was 200.4 billion won, down from a moderate 235.2 billion won on Thursday. Falls led rises 378 to 136 "There are no fresh incentives rightReuter - 173 words
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Article225 1989-07-22 10 Reuter STRONG foreign demand and broad-based speculative buying yesterday pushed the Thai stock index to a record 622.30. The SET index gained 1.88 points in very active trade, with gains outnumbering losses 62 to 41. Padaeng Industry, Royal Orchid Hotel and Ohana Siam Finance wereReuter - 225 words
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Article91 1989-07-22 10 Reuter THE share market yesterday closed slightly higher after drifting aimlessly throughout the day. The Barclays index gained 8.40 to 1,938.88. Dealers expect light trading with a slight upside bias before the July 27 budget "The market's just waiting patiently for the budget," an Auckland bro-Reuter - 91 words
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Article347 1989-07-22 10 Reuter SHARE PRICES in Taiwan yesterday closed slightly higher after newspapers reported that government authorities met to seek ways to crack down on underground investment houses. The weighted index rose 14.88 to end at 8,989.50 against Thursday's 8,954.82 finish. Turn- over fell to NT594.83 billion fromReuter - 347 words
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Article194 1989-07-22 10 BOMBAY share prices yesterday fell sharply after the oppoeition in parliament attacked Prime Minister Rajiv Gandhi over a controversial armaments deal. The opposition has demanded Mr Gandhi's resignation since an official regort on the deal, released on Tuesday, severely criticising the government. "The market is194 words
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WORLD MARKETS
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Article, Illustration768 1989-07-22 11 New York Reuter WALL STREET stocks on Thursday closed lower as futures-related sell programs and lack of Investor resolve erased the day's gains. Earlier, shares swept through resistance at 2600 on the Dow Industrials, bolstered by Federal Reserve chairman Alan Greenspan's promise to be vigilantReuter - 768 words
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Article, Illustration775 1989-07-22 11 London Reuter SHARE prices yesterday opened lower with few exceptions prompted by Wall Street s sharp reversal after the London market closed on Thursday. The FTSE 100 index began 12.0 points off at 2280.3. It has hovered just under 2,300 for the past few days,Reuter - 775 words
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515 1989-07-22 11 BANK MOOTING RESTRUCTURING OF GROUP FT BARING BROTHERS, the private-ly-owned British merchant bank, has begun taking tentative soundings among the City of London's largest institutional investors about putting together an alternative to Sir James Goldsmith's plan to take over and break upFT - 515 words
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619 1989-07-22 11 Reuter BOEING CO is expected to report shsrply higher net earnings next week based on continued strong sircrsft orders and a levelling of research snd development costs, analysts ssy. The commercial and military aircraft manufacturer should report second quarter net income of atReuter - 619 words
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404 1989-07-22 11 Reuter POLICE fraud investigators ars examining the role of a subsidiary ot Britain's largest bank in a 1967 takeover which created the world's biggest employment agency. the Department ot Trade and Industry (DTI) said on Thursday. County Nat West Ltd. the investment bankingReuter - 404 words
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Article1676 1989-07-22 11 Reuter FRANKFURT: Shrugging off an initially sluggish start West German shares yesterday surprised the sceptics and jumped to new 1969 highs for the fourth time this week. "Nobody was expecting the market to continue making gains," one dealer said. "I would have bet that the cautious GermanReuter - 1,676 words
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440 1989-07-22 12 MARTIN SOONG - FUND-RAISING MUST BE ABOVE BOARD, SEEN TO BE ABOVE BOARD By MARTIN SOONG POLITICAL POWER must continue to be won cleanly, and remain uninfluenced by money, Prime Minister Lee Kuan Yew said yesterday. Addressing a ballroom-full of local business leaders last night440 words
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375 1989-07-22 12 Reuter, AFP HONGKONG industrialists say that they have no intention of winding up operations in China but many are looking for ways to spread the jisk, a survey showed. The survey by the Federstion of Hongkong Industries, conducted after the June 4Reuter,; AFP - 375 words
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70 1989-07-22 12 AP THE TWO leaders of Myanmar's major opposition party were placed under long-term house arrest for what the Burmese authorities yesterday claimed was their attempt to "destroy the military and revive anarchy in the country". Confined to their residences and cut off from their politicalAP - 70 words
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455 1989-07-22 12 FOO CHOY PENG - By FOO CHOY PENG CHINA yesterday warned Hongkong that it would know no peace if the "one country, two systems" concept proposed for the colony after 1997 is destroyed. In its sternest warning yet against Hongkong's interference in its internal politics, Beijing said455 words
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227 1989-07-22 12 Reuter TAIWAN'S trade with China through Hongkong is expected to slump dramatically after hitting new highs earlier this year, Taiwanese officials said yesterday. The Board of Foreign Trade reported that two-way trade between Taiwan and China had risen 61 per cent to US$l.45Reuter - 227 words
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Article, Illustration240 1989-07-22 12 Reuter, AFP THE CO-CHAIRMAN of the Paris conference on peace for Cambodia, Indonesian Foreign Minister Ali Alatas, views the international meeting as just a step towards ending the war in Cambodia. "At least the four Kampuchean warring factions will have a chanceReuter,; AFP - 240 words
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149 1989-07-22 12 ALL SUBSCRIBERS to the proposed Admiralty Country Club, which faiiad to register properly under the Societies Act, will have their deposits for membership refunded in full by early next week. The Commercial Affairs Department, which is supervising the refund, said last night that a149 words
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403 1989-07-22 12 Reuter ADNAN KHASHOGGI, the jetsetting Saudi arms dealer accused of aiding Ferdinand Marcos in a massive real estate fraud, was just another inmate in an overcrowded New York jail on Thursday as a judge considered whether he was too rich to be grantedReuter - 403 words
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366 1989-07-22 12 Reuter. AP SOVIET leader Mikhail Gorbachev has signalled in a speech published yesterday that he ia aiming for a purge of conservatives from the ruling Communist Party at all levels, including the top leadership. "The rsnks of party officiate needReuter.; AP - 366 words
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521 1989-07-22 12 WALTON MORAIS - By WALTON MORAIS SINGAPORE and Britain have reached a breakthrough agreement which will significantly increase the frequency of air flights between the two countries and open Singapore's door ss a hub for British airlines. Announcing this yesterday, the Ministry of Communications and521 words
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Article100 1989-07-22 12 Reuter COMEX GOLD futures advanced early yesterday on light buying tied to early gains in London gold prices. But vsles sgain stopped short in the face of solid resistance at U*****.00 an ounce. August gold stopped at Thursday's high of U*****.00 and then retraced to U*****.20,Reuter - 100 words
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LATE FILE
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Article59 1989-07-22 12 AFP THE SOVIET UNION it the world's seventh largest exporter in financial terms, V Spandaryan oI the Soviet Academy of Sciences said in sn interview published yeeterday. Two-thirds of Soviet exports go to socialist countriee, 20 per cent to capitalist countries snd 14 per cent toAFP - 59 words
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Article69 1989-07-22 12 AP SOUTH KOREA s trade surplus with the US plunged 36 per cent in the first half of this year compered to a year earlier to US$2.4l billion, the Office of Customs Administration said yeeterday. South Korean exports to the US in January-June this year totalled US$O.72AP - 69 words
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Article39 1989-07-22 12 Reuter CHINESE Deputy Foreign Minister Uu Shuxin said yeeterday that Beijing would normalise ties with Vietnam after a full settlement of the Cambodian conflict He made the statement during a meeting with Thai Prime Minister Chatichai Choonhavan.Reuter - 39 words
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Article32 1989-07-22 12 Bernama MALAYSIA'S National Front yeeterday named Haji Abdul Kadlr Annuar, 56, a former stats Deputy Director of Education for religious schools, as its candtdats for the Tambatan state by-election.Bernama - 32 words
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Article50 1989-07-22 12 Reuter A PHILIPPINE Airlines plant skidded off a runway and smashed Into vehicles on a busy Manila highway during a storm yesterday, killing seven people and injuring 82. police and airport officials said. Those killed, including a three-year-old boy, were in four motor vehicles.Reuter - 50 words
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Page 7 Advertisements
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Advertisement312 1989-07-22 7 Page CURRENCY INVESTMENT \MI Kl< I \l'Ki II \\k TEL: 321 3333 UNITED INDUSTRIAL CORPORATION LIMITED (Incorporated in the Republic of Singapore) ANNOUNCEMENT Rights Issue of 151,750,725 new ordinary shsres of $1.00 each at $1.50 per new ordinary share payable in full on acceptance or application on or before 4.-00312 words
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Page 7 Miscellaneous
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Miscellaneous20 1989-07-22 7 toa&ts& &Ac£, po (/0C 77// MC Cf/A/WA/ 3/6 C4&&AA77OV/t/JZ c/cv.* /r£ tfCf fV&4tf£TS?/&.. "[(<.! \uj __fTJ mi ■<L by Martell &/+A*muJf20 words
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Page 8 Advertisements
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Advertisement7 1989-07-22 8 Sell high with HP computers. HEWLETT PACKARD7 words
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Page 9 Advertisements
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Advertisement7 1989-07-22 9 Buy low with HP computers. HEWLETT PACKARD7 words
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Page 10 Advertisements
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Advertisement114 1989-07-22 10 FOR TIE VIEWS OF HNJUKML EXPERTS Changes in interest and exchange rates affect your business. BANKING FINANCE brings to you the views of experts in Singapore as well the other financial centres, from Hongkong and Tokyo to London and New York, on a sector which is getting more unpredictable and114 words
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Page 11 Advertisements
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Advertisement6 1989-07-22 11 want quick results, they call CATS.6 words
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Advertisement335 1989-07-22 11 In the matter of The Companies Act, Chapter 50 And In the matter of A.L. HOLDINGS PTE LTD (IN VOLUNTARY LIQUIDATION) At an Extraordinary General Meeting of the Members of A. L. HOLDINGS PTE LTD duly convened and held at 7500 A Beach Road. #12-307, The Plaza, Singapore 0719, on335 words
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Advertisement312 1989-07-22 11 IN THE MATTER OF THE COMPANIES ACT, CAP. 80 h AND IN THE MATTER OF C. T. CON MARKETING PTE LTD (In Voluntary Liquidation) At an Extraordinary General Meeting of the Company held at 7500 A Beach Road #11-320/322. The Plaza, Singapore 0719 on Friday. 21st day of July 1989312 words
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Page 12 Advertisements
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Advertisement87 1989-07-22 12 FOR SUCCESSFUL MANAGEMENT OF YOUR BUSINESS ■a <> Stories on labour and its relationship with management, management concepts in practice, profiles of leading managers in Singapore and relevant book reviews. MANAGEMENT, in Business Times every Monday, is must reading for managers who want the competitive edge. k Plus an occasional87 words
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Executive Lifestyle
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Article, Illustration1266 1989-07-22 13 DAFFODIL TAN - Why do climbers and trekkers keep searching for their Shangri-La in places of cold beauty? One of the greatest joys of trekking Pakistan's mountains, writes DAFFODIL TAN, is the complete loneliness and isolation. She brings you beyond the Hunza Valley, situated at an elevation1,266 words
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Article, Illustration705 1989-07-22 13 SAMUEL EE - A weekend at a beach resort may seem the ideal idea of relaxation. But think again. A sleepy SAMUEL EE dozes off in his hotel room while reading his Mills and Boon and finds out that five-star prices do not always get you five-star treatment;705 words
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Article352 1989-07-22 13 A CERTAIN COUNTRY is quick to offer Singapore journalist* complimentary "return passage" when travelling there on reporting businees. The snag: the "return" in return passage is quite literal reporters will have to find their own way there. And any travel agent will tell you that a352 words
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Commentary
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Article, Illustration1157 1989-07-22 14 JEFFREY TSANG - JEFFREY TSANG UNLEADED petrol is the latest hot topic among environmentalists worldwide as well as the petrol and motor industry in Singapore. It is almost certain that Singapore will "go unleaded" in the next three years. But the plan to1,157 words
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Article, Illustration1418 1989-07-22 14 HELEN CHANG - HELEN CHANG I AM often mistaken for a Singaporean, though I've only been in town for six weeks. Even when I speak, people will ask how long I've been studying in the United States, giving me such a strong American accent. But I was born and1,418 words
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Article, Illustration947 1989-07-22 14 JOHN THOMAS - JOHN THOMAS HEADS OF GOVERNMENT of the world's seven leading industrial democracies, called the Group of Seven or G-7, met in Paris last week and did nothing but interfere in the internal affairs of each other and nearly everybody else in947 words
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199 1989-07-22 14 TAN-HUANG SHUO MEI (Mrs - letters to the Editor TAN-HUANG SHUO MEI (Mrs) foe QaAuliiAMl DAAPH vfffluil Krov»o#ni rUrKj DOaru Dear Sir I refer to the letter "Why not allow use of CPF money for warrants" by "Investors" (Business Times, July 15, 1989). The objective of the199 words
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285 1989-07-22 14 MANMOHAN BINGH - MANMOHAN BINGH Dear Sir I would like to share my unpleasant experience regarding interbank Giro. I had authorised DBS Bank, Shenton Way, to deduct from my savings account my monthly insurance premiums. Due to an oversight on my part, in April 1969, my balance was285 words
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Article196 1989-07-22 14 LU NIXIANG - LU NIXIANG Dear Sir, I understand from some reports in local financial publications that the construction industry is headed for a boom next year. In the event that this materialises, there will be new opportunities for construction companies, some of which have been performing196 words
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Article167 1989-07-22 14 CHEW-LIN F Y (MRS - CHEW-LIN F Y (MRS) Manager (PutoHc Relations) Poet Office Savings Bank Daar Sir I refer to "Call for clearer POSB inatructiona" by Mr D W Diatant (BT. July 15-16 1989). A Caah-On-Line card could be retained either because the card ia damaged or the depoaitor haa167 words
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Article144 1989-07-22 14 HENRY TAN - HENRY TAN Dear Bk, In BT's Forum of 27 May 1969, "Homemaker" appealed to the Minister for Labour, Mr Lee Yock Suan, to abolish the foreign-maid levy, or at least freeze it at the then level of $160 pm on the grounds that the levy was144 words
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83 1989-07-22 14 MAJ DAVID ONQ - MAJ DAVID ONQ Heed, PubMc Affairs Department Mlntetry of Delence Dear Sir I refer to your article of 18 July 89 entitled "Funds for construction of new $12.3 m CMPB 'money well spent': Chandra Das." Paragraph 6 states that defaulters will be "arrested and83 words
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Executive Lifestyle: Entertainment & Pursuits
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Article, Illustration804 1989-07-22 15 JOHN TAN - Whether sore thumb or sight for sore eyes, identifying a Singaporean abroad is a breeze, writes JOHN TAN JOHN TAN WHO SAYS you can't tell Asians apart? Singaporeans, besides being so attached to their lahs, so easily stand out like a sore thumb from other Asians.804 words
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567 1989-07-22 15 ROBERT ANDREWS - OCCUPATIONS By ROBERT ANDREWS AP NOTHING not a soup spill, a burned fillet mignon or a cockroach crawling through the salad turns a restaurant meal into a disaster quite like a nasty headwaiter, says professional diner John Campbell. His advice: Don't takeAP - 567 words
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Article, Illustration818 1989-07-22 16 N K YONG - By N K YONG THE FRENCH WINES of Graves have a long and proud history. They were the first to be exported to Britain in the 12th century, and laid the groundwork for the high reputation of Bordeaux wines. Chateau Haut-Brion was the first great818 words
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Executive Lifestyle: Pursuits
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959 1989-07-22 17 RICHARD SEAH - HEALTH By RICHARD SEAH HEALTH MINISTER Yeo Cheow Tong has asked doctors to avoid too many unnecessary medical tests, citing high costs as one of the reasons. But there is another reason. Unnecessary medical tests can sometimes be more harmful than959 words
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Article, Illustration524 1989-07-22 17 SYBIL HOLLOWAY - BRIDGE By SYBIL HOLLOWAY WHEN playing board No 17 in the Singapore heat of the 1989 Epson Contest, a "cheeky" double by my partner fortuitously made me (sitting in the north seat) the declarer instead of south which would normally have happened524 words
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Article, Illustration776 1989-07-22 17 NG PENG HUI - FILM FESTIVALS By NG PENG HUI HUMOUR is more than just merry chase or pie in the face. The British Film Festival to be held at the end of this month will offer a strong line-up of comedies to show the various perceptions of the776 words
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Article607 1989-07-22 17 JUANITA SHAKILA - n n l|a i-f Kt/ cwnp#MK7 oy JUANITA SHAKILA STAGE PERFORMANCES: The Ambassadors of Opera. The Singapore Oance Theatre will be organising two fund-raising performances featuring the Ambassadors of Opera from the Metropolitan and New York City. The concerts are scheduled for July 23 and 24. The first show607 words
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Article, Illustration606 1989-07-22 18 HELEN CHANG - THEATRE By HELEN CHANG THEATRE DIRECTOR Kuo Pao Kun, SO, likens culture to the roots of a tree. One must know one's culture in order to grow tall end touch others. Language becomes the means of knowing these roots, and the director of Practice606 words
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Article, Illustration449 1989-07-22 18 SAMUEL EE - THEATRE By SAMUEL EE SIQHI How wonderful it is to learn new things. How nice to graduate from being a frog in the well, to a frog by the well. Meeting new people and abeorbing more culture can be such an exciting and educating experience. Like at the449 words
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Article, Illustration997 1989-07-22 18 EVERY ARTIST aspires to break new ground at some stage in his or her career. Some move to a higher piatsau by taking calculated risks. Others model a sound fit for commercial success a ploy that influences the very trends it mimics. Veteran Aretha997 words
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Article, Illustration833 1989-07-22 19 JERRY YAP - REUNIONS By JERRY YAP THERE WERE MORE than a tow red facts at a party last Wedneeday night Some wars caused by the free bear that flowed; the others, from a poem. With carefully chosen words. Or Kirpal Singh recalled, in a poem specially composed for the833 words
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Article, Illustration349 1989-07-22 19 QUEK SWEE PENG - FOOD By QUEK SWEE PENG THE PALATE seeks to be spoiled. Restaurateurs know this. So did Franz Josef's chefs who concocted the emperor s favourite omelette served with poached peers. And so did the Harbour Grill s chefs who have adapted the emperor's favourite dessert and included349 words
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361 1989-07-22 19 Jerry Yap - sy Jerry Yap A FEW GEMS worth checking out at the familiar family restaurant, Swensen's, are found in its promotional Cable Car Menu, which features American peaches, pistachios, raisins and potatoes. For starters, try the Clam Chowder, a creamy US potato soup with361 words
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Executive Lifestyle: Personal Investment
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Article, Illustration793 1989-07-22 20 KEVIN GWEE - STOCK MARKET By KEVIN GWEE THE HONGKONG stock market's slow recovery in the aftermath of the Tiananmen Square massacre has not done much for the confidence of at least two international stockbrokers. In two separate reports, both Baring Securities and Barclays793 words
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Article, Illustration728 1989-07-22 20 HERMAN PHUA - BONDS By HERMAN PHUA THE BONO MARKETS seem to be on their starting blocks. With many of the economic indicators in the United States pointing to s slow-down, government treasuries sre looking healthy bets. "This is your last chance to get deeperSource: C J Lawrence; Source: Morgan Stanley Capital International - 728 words
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286 1989-07-22 20 SINGAPORE GOVERNMENT SECURITIES LOCAL INVESTORS wondering what impact the current rally in the foreign bond marketa will have on their holdinga of Singapore Government Securities should bear a few points in mind. Interest rates in Singapore, unlike say that in the United States,286 words
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683 1989-07-22 20 PHILIP TEH - FINANCIAL PLANNING By PHILIP TEH Mr Teh is a financial consultant with Investment Protection Planning Pte Ltd. The above information is the personal view of Mr Teh and should not be viewed as pertaining to investment advice. BEFORE A PERSON can enjoy financial683 words
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797 1989-07-22 20 PENSION FUNDS NYT SINCE THE New York governors task force on pension fund investment issued its report last month, Ira M Millstein, its chairman and a partner at Weil, Gotshal Manges, a New York law firm, has been urging pension fund managers toNYT - 797 words
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CHART POINT
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Article, Illustration317 1989-07-22 21 GOOLA WARDEN - By GOOLA WARDEN chartist, OUB Securities The Market In Perspective BOTH the Singapore and Malaysian stock markets have moved ahead in the past fortnight; in Singapore, the blue chip barometer, the STI Index, has touched post-Crash highs; in Malaysia, the blue chip indicator, the NSTSource: All charts from OUB Securities - 317 words
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Article, Illustration449 1989-07-22 21 AMY BALAN - mm mmsa By AMY BALAN CREATING VALUE for shareholders. This has to be a key axiom of the management of sny listed company. The easiest and most convenient measure is, of course, market capitalisation. In the last six months, thanks to a bull market449 words
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Article1119 1989-07-22 21 AMY BALAN - INVESTMENT OPPORTUNITIES By AMY BALAN COLLECTIBLES, not stocks, not bonds, produced the best investment returns in the past 12 months. An annual ranking of returns on key investments by American securities house Salomon Brothers placed Old Masters paintings, Chinese ceramics and coins at the top1,119 words
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Article418 1989-07-22 21 WARRANTS WATCHER THE WARRANT market has seen active turnover as well as some spectacular price rises since January. Is it time for things to cool down a bit? Perhaps. Let's see why. Warrant prices have been pushed higher by strong demand. For example, the418 words
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866 1989-07-22 21 DEXTER LEE - AUSTRALIAN DOLLAR By DEXTER LEE THE AUSTRALIAN dollar, which has been battered severely since February, is widely expected to drift lower sgainst the Singapore and US currencies for the rest of the year. Dealers contacted by BT shared the sentiment that the Australian866 words
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Executive Lifestyle: Sports
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Article, Illustration524 1989-07-22 22 A SURENDREN - GOLF By A SURENDREN M MURUGIAH wrested back into contention in the local Order of Merit when he won the Jurong Country Club leg of the BP circuit yesterday. Murugiah started off with a marvellous three-under par 69 in the morning, and followed it with two-over524 words
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Article, Illustration753 1989-07-22 22 BRITISH OPEN AP OBSCURE English pro Wayne Stephens tied the course record with a six-under-par 66 and took a surprise two-shot lead on Thursday in the first round of the 118 th British Open Golf Championship. Stephens, who has not even come cloee toAP - 753 words
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193 1989-07-22 22 AFP BLAINE McCallister, returning to the site of his first career victory in Coal Valley, Illinois, last year, shot a five-under-par 65 to take a one-stroke lead after the first round of the US$7OO,OOO Hardee's Classic. McCallister, who equalled a US PGA record byAFP - 193 words
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436 1989-07-22 22 TENNIS AP THE United States has prepared to open with a backup replacement in the Davis Cup semifinals against defending champion West Germany. Brad Gilbert, a last-minute fill-in for injured John McEnroe, was to open the best-of-5 series against Carl-Uwe Steeb atAP - 436 words
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550 1989-07-22 22 JEROME FANDOR - ON y&fl TR/O f With JEROME FANDOR With JEROME FANDOR THE Singapore Gold Cup hero, Colonial Chief, returns to racing in the second leg of the Rothman's International Triple Crown series tomorrow in Penang. The hero of the Hongkong Invitation Cup returned550 words
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Article, Illustration269 1989-07-22 22 CYCLING AP TIME is running out for Greg LeMond. There are three days left in this year's Tour de France. Three days for LeMond to erase a 50-second deficit that he has to Laurent Fignon of France. i Fignon tightened his grip on theAP - 269 words
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Article100 1989-07-22 22 AFP SEEDED American players Lori McNeil and Gretchen Magers were eliminated on Thursday in the second round of the US$2OO,OOO Hall of Fame Championships in Newport. McNeil, seeded third and ranked 21st in the world, was upset by Argentine-born Peruvian Laura Qildemeister 7-5, 6-2 inAFP - 100 words
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323 1989-07-22 22 AP JEREMY BATES rallied in the fifth Mt to defeat Martin JaHe and give Britain a 1-0 lead over Argentina in a Davis Cup qualifying clash on Thursday between nations better known for battles on the soccer held and in the Falklands War.AP - 323 words
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Article143 1989-07-22 22 OTB INTERNATIONAL AP TOP-SEEDED Dan Goldie fell back on his serve-and-volley game to defeat Austria I ran Broderick Dyke 6-3, 6-3, in a firstround match at the US$2OO,OOO OTB International Tennis Tournament. Goldie, a quarter-finalist at Wimbledon, described his ground play on Wednesday as "off balance" atAP - 143 words
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382 1989-07-22 22 BOXING NYT ON THE Trump Plaza dais. Mike Tyson, the heavyweight champion of the world, stared straight ahead, his face in his palms, as the final news conference for last night's fight against Carl (The Truth) Williams proceeded. It was a familiarNYT - 382 words
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172 1989-07-22 22 JOE FRAZIER, who went from Olympic gold to heavyweight champion, on Thursday joins four other athletes and the 1960 Olympic ice hockey team as inductees into the US Olympic Hall of Fame. Track stars Lee Evans. Bobby Joe Morrow and Mel Sheppard172 words
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142 1989-07-22 22 VIRGINIA SLIMS AP TOP-SEEDED Zina Garrison and second-seeded Pam Shriver advanced on Wednesday to the quarter finals of the US$2OO,OOO Virginia Slims of Newport Tennis Tournament. Garrison used an all-round game to eliminate amateur Meredith McGrath 6-4, 6-0. Garrison credited the 16-year-old McGrathAP - 142 words
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Executive Jobs
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Article, Illustration614 1989-07-22 23 SHOEB KAGDA - THE BIG MQVF IVIV/ V&aip&m By SHOEB KAGDA LOOKING at it from the outside. Winston Tan has not left Citibank. Rather, the Citibank that he knew has "ceased to exist". When he decided to move to Deutsche Bank about a year ago, he did so because614 words
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Article, Illustration835 1989-07-22 23 TYE KIM KHIAT - By TYE KIM KHIAT JOB AOS in Singapore are a sign of the times. Of what in particular, one may ask. The labour-strapped market, the changing work ethic, a choosy workforce, enlightened management, an exuberant advertising industry all these come to mind quickly. Whatever835 words
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641 1989-07-22 23 ANNA TEO - By ANNA TEO MANAGING others' money, and getting rich in the process, must surely appeal to a good number of people. It does, but the number is hardly "good". Not enough, anyway, to match the rate at which funds pour into Singapore, a budding Switzerland of641 words
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Article, Illustration253 1989-07-22 23 LOH HOON SUN, 50. is not quit* me archetype of e hot-ehot financial whiz-kid. But the executive vice-president of Oversees Union Bank and veteran money man haa many corporate achievements to beam about OUB's Union Singapore Fund and Union Investment Fund outperformed the market during the first six253 words
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Page 13 Advertisements
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Advertisement252 1989-07-22 13 NEED A HOUSING LOAN? m Call USA from any phone, any day, anytime at 222 5544 or 222 8844— 1 iMfB 1 JltU-iT: n-» h/» Mjkgt fim aJt— y Ladies' 18-Carat gold Saratoga with diamonds. CONCORD. WATCH MAKERS TO THE GENTRY. SINCE 1908 The new Saratoga collection from Concord is252 words
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Page 14 Advertisements
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Advertisement22 1989-07-22 14 BT welcomes letters from readers. Your letters must Include your signature, full name, address, and home and office telephone numbers, If any.22 words
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Page 15 Advertisements
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Advertisement78 1989-07-22 15 HIS SILVER HARMONICA 1. APRIL IN PORTUGAL 2. STRANGER ON THE SHORE 3. MOONLIGHT BAY 4. TILL 5. AL Dl LA 6. SOMEWHERE MY LOVE 7. VAYA CON DIOS 8. DONKEY SERENADE 9. TILL I WALTZ AGAIN WITH YOU 10. AROUND THE WORLD 11. OH MY PAPA 12. I LOVE78 words
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Advertisement9 1989-07-22 15 Model Generation (Automatic) ration to Generation since 173 wm9 words
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Page 16 Advertisements
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Advertisement806 1989-07-22 16 I COURVOISIER VS.O.P-WtiECE TCIENTEICTAIN I A fortnight to polish up your taste for fine cuisine! Savour authentic Polish dishes prepared by master chefs using herbs, poppy seeds and freshly picked mushrooms. Your meal could win you a free return trip to Poland. So come experience Polish tradition at its best!806 words
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Advertisement178 1989-07-22 16 M ii* Vj TO THE GLAMOUR AWARDS Join us as we come to the climax of the competition for Singapore's richest annual fashion and glamour event. Tickets for the Grand Finals at $90 nett are available at the Mandarin Reservations Counter. (IK \\!> Il\\l s I i 11! \1 \\l)178 words
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Page 17 Advertisements
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Advertisement194 1989-07-22 17 m m m <i Every Sunday There's A Family Feast In The Park. At the Hubertiu> Grill, Sunday brunch is a great outing for the family. A glorious buffet spread is laid out for botb grown ups and children. And to make jure the kid,) are truly entertained, there '<1194 words
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Advertisement30 1989-07-22 17 Prestige De La France Courvoisier is the only cognac house ever, to receive France's Highest Award for Quality. jr*- vspr /ir l K -f,*. t.T ET'. w 4 COCNAC COURyOISIER30 words
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Advertisement76 1989-07-22 17 At Gourmet Palace, youll discover a tantalising range of glutinous rice balls (An Bau Ling) where there is no comparison. We offer an array of fillings such as sesame, peanut, red bean, yam and durian (seasonal). The popularity of our speciality means you can enjoy it all year round. TOM76 words
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Page 18 Advertisements
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Advertisement176 1989-07-22 18 DE WAR'S PR GARY JO < >MK: Annap< Ml \li >Ki:SSh arhi i vtllr<m e<lit< »i at i.ii L !|(»i > I\\ Tr\ ii 11* to sta\ week at a 1 iiiu•. LAST Hi m )K WLTITK* LATKST A( '< LMI'LIS IMS-'i America( u|> < < I it km t176 words
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Page 19 Advertisements
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Advertisement205 1989-07-22 19 R'S PROFILE: GARY JOBSON I!' Mi:: Annapolis. MI). Ai iK: :>l. V\l< H'KSSK Yacht racing I act ician: aul hot led urer; oditor-at-largo, Tf/c <n ht. 11< >HMY: Trying to stay homo f<>l more than a w •vk at a I imo. LAST \M H >K WhTITEN: Storm Sailing. LATEST205 words
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Page 20 Advertisements
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Advertisement51 1989-07-22 20 EXCELLENT MVESTMHIT OPPORTUNITY in an established city resort/motel near Kuala Lumpur with good growth potential. 45 Tastefully Furnished Rooms High Occupancy Rate Swimming Pool Bowling Alley Snooker Parlour Restaurant/Conference Rooms Approved plan for expansion. Asking US$4.5 Million. Interested write to: The Advertiser P.O. Box 374 Jin Saltan ***** P.J.. Selangor,51 words
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Advertisement28 1989-07-22 20 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 092328 words
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Page 21 Advertisements
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Advertisement51 1989-07-22 21 INVESTMENT OPPORTUNITY Join ROYAL LIFE INSURANCE AUSTRALIA LTD. In their Investment Plan with up to *****,000 (min S$90,000) earning circa. 12% p.a. and enjoy extra gains of 4 to 6 times your capital yearly. Interested parties please telephone to Mr.H.K. Lim of IMPECO DEVELOPMENT CO. at *****47 (24-hr Direct) or51 words
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Page 23 Advertisements
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Advertisement255 1989-07-22 23 GENERAL MANAGER An experienced General Manager, well versed in Port Operational Handling of Containers, Liner, Conventional and Bulk Cargo Shipping, including Tanker Husbandry with contract negotiating ability. Previous experience includes Port Agency, World Wide Marketing, Ship Management and International Crewing Agreements. Presently employed (expatriate terms) in Australasia for a very255 words
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Advertisement334 1989-07-22 23 ZURICH INSURANCE (SINGAPORE) PTE LTD We are a subsidiary of the Zurich Insurance Group. The Zurich Insurance Group, baaed In Switzerland, is one of the world's largest Inaurance groups, with worldwide premium income of Ssls billion, ita subsidiaries and affiliates in 50 countries and co-operative partners in another 30 countries334 words
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Page 23 Miscellaneous
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Miscellaneous840 1989-07-22 23 dRWS^/ORD CRYPTIC PUZZLE ACROSS 9 What the sadist is not interested in? (4, 4) 10 The money is not quite enough for the acid (3) 11 Giving it all one's attention, aim (6) 12 Says it's the property of the government (6) 13 Find the Key in the urn, rooting840 words
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Page 24 Miscellaneous
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Miscellaneous618 1989-07-22 24 IhMww, Today, 10.30pm, SBC 5 An Australian production about the forced eviction of the residents of a quiet suburban neighbourhood. But there is a violent retaliation to plans to redevelop the area into a holiday resort. And when the protagonist for the residents disappears, tension mounts. Richard Moir, Carole Skinner618 words
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Miscellaneous3533 1989-07-22 24 tngfc-jaaMii- ar mmmmmmmam Exuu&vt Ulnt+dci& Pwt44fi*%t SBC 12 8.55 AM Opening followed by Boxing: World Heavyweight Championship Mike Tyson v Carl The Truth" Williams (L, See Our choice). 11.30 Close. doting time subject to change. 5.30 PM Opening and Programme Highlights followed by Bodywatch Starting and Sticking with Exercise. This3,533 words
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