The Business Times, 17 March 1990

Microfilm: NL16960
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    10 1 Business Times MCI (P) 170/12/89 Weekend March 17-18 1990 75®
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  • NEWS& MARKETS SUMMARY
    • Article
      Dow Jones up
      30 1 PRICES of blue chip stocks advanced on Wall Street yesterday, with the Dow Jones industrial average standing at 2,709.91, up 14.19 points, five minutes into the session.
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    • Article
      Footsie up
      33 1 LONDON share prices were higher in moderate trading at mid-day yesterday. At about 1200 GMT, the Financial Times-Stock Exchange 100share index was up 22.0 points, or one per cent, at 2,256.9.
      33 words
    • Article
      Lock icon Sanctions likely
      58 1 AFP SENATOR John Danforth of the United States said on Thursday that the US Congress was likely to impose sanctions apainst Japan if the outcome of the ongoing trade talks was not satisfactory. Mr Danforth, a Republican from Missouri, met Japanese Foreign Minister Taro Nakayama and other leaders
      AFP  -  58 words
    • Article
      Aerosol ban
      29 1 IN A FURTHER MOVE to help save the ozone layer, the Ministry of the Environment may ban aerosol products containing ozone-depleting chemicals from retail shelves. Pg 2
      29 words
    • Article
      Restructure bid
      12 1 BATU LINTANG Rubber Company Bhd outlines acquisition plans Pfc 3
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    • Article
      HK Land confident
      24 1 HONGKONG LAND Holdings Ltd, which yesterday reported a 24% increase in net profit, is confident of greater profits this year Pg3
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    • Article
      Split over growth
      32 1 BUSINESSMEN and economists are divided over how long the Japanese economy can continue its brisk growth given declines in the stock market, the weakening yen and concerns PR 4
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    • Article, Illustration
      STOCK INDICES
      29 1 Friday Change BT-MGA 785.46 +2.66 Kuala Lumpur .3068.55 +21.10 Hongkong 2886.46 -6.35 Tokyo *****.44 -55.20 Sydney 1584.5 +11.8 Thursday Change New York 2695.72 +7.88 London 2234.90 +8.80
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    • Article
      CURRENCIES
      20 1 I*irtwif rates USS S$ 1.***** Yen SSI.2291 M$ SS0.6894 Money mirktt rites Overnight 6 +1/2 3-month 6 1/4 unch
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    • Article
      COMMODITIES
      33 1 London GoM AM fix US$399.20 US$1.60 S'pore April. 155.50*/kg +0.1 Msia April M208.50*/kg -0.1 KLTta Turnover 70 tonnes +10 Spot M$17.l4/kg +10 Crwlt palm oil Turnover 1,143 lots -546 Apr M$693/tonne +12
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  • Article, Illustration
    Pac Fleet acquires 30pc stake in Renong
    436 1  -  By William Chia AN UMNO-linked private company has acquired a strategic stake in listed propertybased Renong Bhd, previously rumoured to be a takeover target of another UMNObacked company, United Engineers Malaysia Bhd. Pacific Fleet Sdn Bhd, believed to be an offshoot of the
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  • Article
    Lock icon Nomura pegs growth at 3.2 pc
    175 1 AFP JAPAN'S Nomura Research Institute has predicted that annual economic growth worldwide in the 1990s will average 3.2 per cent. The research arm of Japan's biggest securities house, Nomura Securities Co, said that Japan would post an average 4.1 per cent gross national product
    AFP  -  175 words
  • Article
    San Miguel brewing up South-east Asian moves
    415 1  -  By Harish Mehta PHILIPPINE conglomerate San Miguel Corporation is currently working on plans to make major initiatives in South-east Asia over the next five years and will also open a new brewery on Negros island by mid-1990, which will inject more competition into
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  • Article
    OUB turns in sterling performance
    267 1 OVERSEAS Union Bank has posted a sterling performance for 1989 with a record group after-tax profit of $75.5 million clearly overshadowing the performance of the other public companies within its own stable. Main contributors to OUB's hefty group profit were substantially higher earnings at the
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  • Article
    Lock icon Signs that worry Bush
    197 1 AP Reuter US PRESIDENT George Bush says he remains generally optimistic about the US cconomy, but there are some signs "that worry me". Among other problems, the nation's bulging deficit is making it impossible to give countries in Eastern Europe and Central America the aid they
    AP; Reuter  -  197 words
  • Article
    Kay Hian clears up Sungei Besi affair amicably
    338 1  -  Elaine Koh BROKING FIRM Kay Hian James Capd and its Malaysian counterpart appear to have settled the Sungei Besi affair amicably without major financial loss to either side. Sources close to the firms say that the matter, which arose last week as
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  • HOME NEWS
    • PARLIAMENT ROUNDUP
      • Article
        New library site earmarked
        55 2 THE FORMER Raffles Girls' School site at Queen Street has been earmarked for the new National Library, said the Minister of State for Community Development, Dr Seet Ai Mee. Replying to Mr Chew Heng Ching (Eunos GRQ, Dr Seet said a library consultant for the project
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      • Article
        Implementing a bilingual policy
        77 2 THE ISSUES involved in implementing a bilingual policy in a multi-racial society are best studied by a centre or institute set up by a tertiary institution, said Education Minister Tony Tan. He has suggested that the proposed National Institute of Education sponsor such a centre to
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      • Article
        A wider VITB scheme
        100 2 THE VOCATIONAL and Industrial Training Board is looking into enlarging its apprenticeship scheme to accommodate more school-leavers, said Senior Minister of State for Education Tay Eng Soon. The expanded scheme will be launched soon. VITB is also working with industry groups to put in place National
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      • Article
        Chance for adults to learn
        56 2 THERE ARE ample opportunities for working adults to further themselves, said Dr Tay Eng Soon. The VITB alone provided 101,000 places in its various adult education programmes last year. If the courses provided by the National Productivity Board, the polytechnics and other training agencies are
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      • Article
        More amenities for schools
        133 2 MORE AMENITIES from personal computers and facsimile machines to air-conditioning are on the cards for schools. Mr Tang Guan Seng, Parliamentary Secretary for Education, told the House that each secondary school will be provided with up to four more personal computers, and each primary school up
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      • Article
        Upgrading hawker centres
        52 2 PRIVATISATION provides an opportunity to upgrade hawker centres, said Mr Goh Chee Wee (Boon Lay). Mr Goh was speaking at the debate on the Environment Ministry's budget. He suggested that the ministry "make it a condition that the successful tenderer must introduce some specific improvement to the
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    • Article
      Ministry may slap ban on aerosols with CFCs
      230 2  -  By Genevieve Cua IN A FURTHER MOVE to help save the ozone layer, the Ministry of the Environment may ban aerosol products containing ozone-depleting chemicals, or chlorofluorocarbons (CFCs), from retail shelves. Environment Minister Dr Ahmad Mattar said CFCs in spray cans is
      230 words
    • Article, Illustration
      Governments urged to take lead in ecological issues
      216 2 THE WELUBEING of the planet cannot be left entirely in the hands of market forces, in the view of Dr Manfred Vohrer, a member of the European Parliament and rapporteur for .ecological market policy. Governments should take the lead in resolving national
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    • Article
      Asean plan to combat oil spills under study
      187 2 A DRAFT ASEAN contingency plan which enables an Asean country to enlist its neighbour's help in containing an oil spill is currently being studied. Environment Minister Dr Ahmad Mattar yesterday assured Parliament that local and regional measures were enough to meet any
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    • Article
      Determining CPF for additional wages
      267 2  -  *L Yong Pow Ang THE CENTRAL Provident Fund Board yesterday gave details of how contributions on additional wages like bonuses and commissions of workers who earn more than $100,000 annually will be computed. It essentially says that since this year's total income will not be
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    • Article
      Tank Storage taps market for $25m
      222 2 TANK STORAGE Singapore is raising another $2S million through a guaranteed bonds issue to finance the construction of its oil storage facility on Pulau Busing. The bonds, each with a face value of $250,000, carry a coupon of 7.187S per cent payable annually in
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  • SHIPS IN PORT
    • Article
      SINGAPORE
      1502 2 AT CONVENTIONAL WHARVES KX* *****0 MIC oto««Md« 140V 2300 Ioiom Soyong *****0 M4A otongwte 1*03/ 2300 1Mb iu J i». LJ j bio 21 A/10 M4C ato«9«4* .TNM PIWWHWi fcnHooi I HV0 MSA atoxgudu I408K BOO 8r»ti Ami W M3I ■loop* 14W «0 Kotaonw I 07/10 M2A otongwte 1403/
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    • Article
      MALAYSIA
      259 2 Port Kalang South Port Rich World berth 2; Pelogo lao berth 4; Sabana Satu berth 5; Pertongkangan berth 7A; Petro Niaga Shell jetty KCT: Manila Bridge berth 8; Anro Medaatar berth 8; Bon Expreaa berth 10 North Port KLD Tunaa Samudra berth 11; Taipan berth 11; Shibao berth 13;
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  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      94 2 Contact telephone numbers (Tanjong Pager Terminel) Section 1 Section 2 Section 3 Berth telephone Berth telephone Berth telephone CI —*****20/*****92 C 4 *****24 C 8 *****63 CIN *****20 C 5 —*****43/321 1145 C 9 *****84 CIS *****92 C 5N —*****43 CIO *****70 C 2 *****51/*****53 CSS *****45 CI2 *****54/*****42 C2N
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  • COMPANY NEWS
    • Article, Illustration
      MARKET SUMMARY
      540 3 Othtr UbM Gom Previous Net change Mar 16 Mar 13 BT Composite 1366.50 1365.04 +1.46 BT-MGA 785.46 782.80 +2.66 ST Industrials 1570.99 1569.04 +1.95 BT OB/OS *77 -35 -42 BT CADI -5358 -5357 -1 BT 10-day MA -5365 -5357 -8 BTOBV +*****34 *****73 ***** ST Finance 2644.70 2637.86
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    • Article
      OUB hits record $75.5 m group after-tax profit
      442 3  -  By Magdalene Ng OVERSEAS UNION Bank (OUB) has broken its 1988 earnings record to tum in an all-time-high group after-tax profit of $75.5 million, 44.6 per cent higher than the previous year's $52.02 million. The impressive performance exceeded most analysts' expectations, who
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    • Article
      Lock icon Batu Lintang on acquisition path
      464 3 Bernama BATU LINTANG Rubber Company Bhd (BLRQ, in a bid to restructure its operations, has proposed acquiring stakes in four companies for MS36 million, a bonus issue and the issue of irredeemable convertible unsecured loan stocks (CULS). The company is proposing to acquire the entire
      Bernama  -  464 words
    • Article, Illustration
      Lock icon HK Land expects higher 1990 profits
      271 3 Reuter HONGKONG LAND Holdings Ltd, which yesterday reported a 24 per cent increase in net profit to a record HKSI.SI billion for its 1989 centenary year, is confident of greater profits this year. "With little new Grade A office space coming oi\ stream in
      Reuter  -  271 words
    • Article
      MBf unit to operate Carl's Jr restaurants
      184 3 HONGKONG-BASED MBf International Ltd has entered into a master licensing and technical assistance agreement with United Statesbased Carl Karcher Enterprises Inc (CKE) to operate and sub-license Carl's Jr restaurants chain in the AsiaPacific region. MBf International, a wholly-owned subsidiary of MBf Holdings Bhd,
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    • COMPANY BRIEFS
      • Article
        Guthrie on Shahzan talks
        77 3 GUTHRIE GTS LTD, queried by the SES on the substantial increase in its share price, said negotiations to resolve the problem over the proposed purchase of Shahzan Tower in Kuala Lumpur are at an advanced stage. However, it is not in a position to confirm the
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      • Article
        Hai Sun Hup option extended
        58 3 HAI SUN HUP said it has been granted an extension on an option from Mr Ow Chio Kiat, a director of the company, and his wife for the purchase of their shares in HSH Properties Pte Ltd which owns a property at 200, Cantonment Road.
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      • Article
        KIO sells Sime Darby shares
        35 3 THE KUWAIT Investment Office has sold 1.5 million shares in Sime Darby Bhd. A statement yesterday said that the shares were registered in KlO's nominee company, Mayban (Nominees) Sdn Bhd.
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    • Article
      OUE chalks up 23pc growth in net profit
      298 3 IN LINE with analysts' expectations, Overseas Union Enterprise (OUE) has chalked up 23.43 per cent growth in group net after-tax profit to $9.15 million for the year ended Dec 31, 1989. The bulk of OUE's earnings, totalling about 70 per cent of
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    • Article
      Huge possible-loss provisions dampen earnings at ICS
      301 3  -  Elaine Koh LARGE provisions for possible losses in the international reinsurance business have dampened earnings at the Insurance Corporation of Singapore, which reported a 23 per cent drop in group net profit to $16.24 million. The 1989 performance of this associated company of
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      9 3 The Hock Lock Slew Column has been held over
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    • Advertisement
      Page 3 Advertisements Column 2
      339 3 OVERSEAS UNION BANK LIMITED H II (Incorporated in th# Republic of SinQepore) II II ANNOUNCEMENT II 11 The Board of Directors of Overseas Union Bank Limited is pleased to announce: 11 II The Bank The Group II ~i« 1968 +/(-> 1989 1968 srooo sidoo ss'ooo srooo II 1) AUDITED RESULTS
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  • THE WORLD
    • WORLD WATCH
      • Article
        Lock icon India investigates air bribes allegations
        80 4 AFP THE Indian government has begun a probe to determine whether deals to purchase Airbus A-320s were struck in exchange for bribes, the Press Trust of India (PTI) reported. PTI quoted "highly placed sources" in the Central Bureau of Investigation (CBI) as saying that the
        AFP  -  80 words
      • Article
        Lock icon Jakarta on ties with Taiwan
        74 4 Reuter INDONESIA said trade relations with Taiwan would not suffer if it resumed diplomatic relations with China after a 23-year break. "We want to maintain and to make use of Taiwan's economic potential for our national development," State Secretary Murdiono was quoted as saying on
        Reuter  -  74 words
      • Article
        Lock icon Soviet firms face difficulties
        101 4 NYT AFTER decades of paying their foreign obligations in full and on time, some Soviet companies are having difficulty making payments on contracts with Western suppliers, according to West German bankers and businessmen. The growing problem reflects the shortage of hard currency in the Soviet economy
        NYT  -  101 words
      • Article
        Lock icon Japanese Cabinet dispute
        72 4 AP A DISPUTE erupted among Japanese Cabinet ministers yesterday over a measure demanded by Washington to open Japan's markets, and Prime Minister Toshiki Kaifu intervened to move the debate outside the Cabinet meeting, officials said. The dispute, in a regular Cabinet meeting, was between the ministers of
        AP  -  72 words
      • Article
        Lock icon Call to cash in on E Europe
        67 4 AP PRESIDENT George Bush called on US manufacturers on Thursday to view changes in Eastern Europe and elsewhere as an opportunity to capture new world markets and cash in on a "growth dividend". Mr Bush shrugged of the recent slowdown in the US
        AP  -  67 words
    • Article
      Lock icon 'US-Apec tie-up would avert EC protectionism'
      196 4 AFP THE United States should work within the new AsiaPacific Economic Cooperation (Apec) group to avert possible protectionist action when the European Community forms a single market in 1992, a conservative US think tank argues. The study by the Heritage Foundation, released on Wednesday,
      AFP  -  196 words
    • Article
      Lock icon Split over Tokyo's growth trend
      356 4 Asahi AMID steep declines in the stock market, the weakening yen and concerns about inflation, opinions have become divided among businessmen and economists about how long the Japanese economy can continue its brisk growth. The Japanese economy expanded in February for the 39th straight month,
      Asahi  -  356 words
    • Article
      Lock icon Proton Saga distributor to diversify
      188 4 Bernama EDARAN OTOMOBIL Nasional Sdn Bhd (EON), the domestic distributor of the Malaysian car, Proton Saga, will diversify into other activities and operate as a "sogososha", Prime Minister Datuk Sen Dr Mahathir Mohamad said yesterday. He told a news conference that EON would venture into
      Bernama  -  188 words
    • Article, Illustration
      Wearing a flag for E German freedom
      43 4 An unidentified girl wrapped in the East German flag stands on a wall covered with election posters in front of the Brandenburg Gate. The first free elections in East Germany are to be held on Sunday.
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    • Article
      Thai freeze on car price is losing power
      264 4 THE THAI Commerce Ministry's policy to freeze consumer prices of lower-powered cars is failing as automobile assemblers are introducing more cars with higher engine capacities. The freeze covers cars with an engine displacement less than 1,500 cc, while there is no restriction
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      653 4 w II OVERSEAS UNION ENTERPRISE LIMITED 11 (Incorporated in the Republic of Singapore) 11 ANNOUNCEMENT II 11 The Board of Directors of Overseas Union Enterprise Limited is pleased to announce: 11 11 AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 1969 11 The Company The Group 1989 1988 +/<-) 1989
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      Page 4 Advertisements Column 2
      534 4 I OVERSEAS UNION TRUST LIMITED I (Incorporated in the Republic of Singapore) I ANNOUNCEMENT I The Board of Directors of Overseas Union Trust Limited is pleased to announce:I AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 1989 I Increase/ I 1989 1968 (Decrease) I S*-000 Ss'ooo I Total Operating Revenue
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Investors continue to stay on sidelines
      4510 5  -  By Abdul Hadhi INVESTORS, whose confidence has been waning over the past few weeks, continued playing the waiting game yesterday. "It was a quiet day. Everyone was waiting. Some were waiting for the US economic report while others were nervous about reports of a
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  • STOCK EXCHANGE OF SINGAPORE 2
    • Article
      Stocks close broadly lower as volume plunges
      710 6  -  By Abdul Hadhi SHARE PRICES on Gob International were lower across a broad front yesterday although rises in selected indexlinked stocks caused the UOB OTC Index to edge up 1.16 points to 987.32. The Business Times Composite Index, which includes Malaysian as well
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    • Article
      CLOB INTERNATIONAL
      2940 6 Grt Grt 1989/90 Tel Last Vol Day Last Quote Dtv Dir VU Net M Cap High Low Code Coopany Sale +or0000) High Low Buyer Seller Or P/E Sail Trm 102 92 1418 CDL Hotels Intl 93V, 440 93V. 93 93% 94 1246 Cathay Pacific 1000 980 1739 Cheung
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  • Article
    BONDS, LOANS AND WARRANTS INFORMATION SERVICE
    880 6 ompaay Co«pon Coarenioa period Interest Coamiioi tan for om ordinary ■*«■"«> payabtr share data C—m L«n 1994 6 Dec 31 Cawewiy *1 1994 Oct 2, 1989 to Oct 20. 1994 1 warrant phis SI cash or 1 warrant ptus $1 nominal amount of loan
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Bargain-hunters return
      3292 7 MBT SHARE PRICES on the Kuala Lumpur stock market closed mixed to marginally higher yesterday as investors emerged from the sidelines to bargain-hunt for attractively priced stocks in listless trading An analyst said confidence appeared to be creeping back to the Kuala Lumpur bourse, with selective quality stocks
      MBT  -  3,292 words
  • BT SHARE INFORMATION SERVICE
    • Article
      RESULTS DUE
      665 7 Siagapara Stacks Last Fad Year Ceropaqr Pwfad Mi Yea Net EPS Gran IW immd nft« (cenb) «fv profit M ft* (DOO) 8MT Merm Ian 27 Jun 90 1696 100.0 516 fiM GTS FM Feb 22 Dec 89 1,1171 Mai Pittl Fob 28 No* 89 39.1 10.0 11.728 Tern
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    • Article
      DIVIDENDS ANNOUNCED
      593 7 Current Ex Mu Date Tatal far Tatal far pay at date data payaMa tfca yaar last year teat Find US10((b) Mar 7 Mar 19 Mar 26 US10C Awno 15%TE Feb 28 Mar 12 May 15 25*11 25%TE BAT 90.9%(n) Apr 6 Apr 19 May 3 122 7*(n) 72%
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    • Article
      APPROVED ISSUES
      349 7 Compiny Rights lime MM One-tor tour M$2 40 per share Ei-date Mar 8 Books dose Mar 22 Acceptance I Payment MYA Beuiteadco One-tor Uwe $1.15 per share Ei-date Jan 19 Books close Feb 1 Acceptance Payment Mar 19 CSC Tw-tor tore $210 par share Three warrants tor every
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    • Article
      PROPOSED ISSUES
      225 7 Company Rights Issue to* One-tor-one 11.85 per start 0 Hofcftnp Issue of 27m loan stocks 0* rate of S3 loan stock tor every tore ordmary stares held FAC8 One-tor-one MIO 60 per stare Fabar Marti One-tor-one MSO 25 per share. Mtowed by a share swap of ton Fader
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  • Article, Illustration
    To the land beyond dreams
    1243 8 A BT SPECIAL ADVERTISING FEATURE ON NORTHERN IRELAND Northern Ireland is a name that will increasingly become more familiar as the Industrial Development Board for Northern Ireland intensifies its moves into the AsiaPacific region to promote the province. Spanning a short history of about 2,000
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  • Article, Illustration
    Belfast beckons Singapore firms
    951 9 SINGAPOREAN COMPANIES stand to lose business opportunities opening up in an integrated European market after 1992 unless they become more adventurous, says British High Commissioner Sir Michael Pike. The importance of the integrated market cannot be overemphasised given that, first, the EC's population is over 320
    951 words
  • Article, Illustration
    Gateway to an investment haven
    880 9 PICK UP a business magazine or newspaper and you will find advertisements taken up by various governments to attract more foreign capital. Whether it's the US, Europe or East Asia, governments publicise their advantages and competitiveness. Northern Ireland is no exception. What sets Northern Ireland
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  • REGIONAL STOCK MARKETS
    • Tokyo stocks close easier in moderate trade
      • Article, Illustration
        HONGKONG
        1037 10 HONGKONG share prices fell yesterday with the Hang Seng index losing 6.35 points to 2,886.46 after recording a rise on Thursday for the first time in eight sessions. Turnover was down to HKS 1.063 billion, against Thursday's HKSI.26 billion. Dealers said share prices opened higher after Thursday's bargain-hunting which
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      • Article, Illustration
        TOKYO
        794 10 TOKYO share prices were easier in modest trade yesterday at the close as selling pressure overwhelmed periodic buying by investment trust funds and other investors. A rebound in prices on Thursday triggered some morning buying, but currency and interest-rate jitters ultimately prevailed. "There's a mounting feeling of resignation in
        794 words
      • Article, Illustration
        SYDNEY
        511 10 RENEWED interest in top industrial stocks and short-covering after this week's dip lifted the Australian sharemarket to a stronger close yesterday. The All Ordinaries index finished 11.8 points higher at 1,584.5. The market gained 5.3 points from its close last Friday at 1,579.2 after staging a strong recovery from
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      • Article
        SEOUL
        209 10 SEOUL stocks firmed yesterday on talk that a thorough cabinet reshuffle would take place today. The composite index closed at 842.27, up 6.68 points from the previous session. Turnover remained moderate at 201.9 billion won against 141.1 billion on Thursday. The index gained over II points by early afternoon,
        209 words
      • Article
        TAIPEI
        397 10 SELLING pressure in the Taiwan stock market reversed early gains and sent turnover to a record high yesterday as investors became worried about the political situation. The weighted index closed 432.15 points, or 3.6 per cent, lower at 11,502.34. Turnover set a re- cord at NT$2l6 billion against NTS
        397 words
      • Article
        BANGKOK
        229 10 A HIGH level of short-term liquidity in the Thai money market fuelled a rally in stocks with finance issues leading the advance yesterday. "The mood is generally bullish, helped by a temporarily high surplus of money in the interbank market Next week's trend is unclear pending the upcoming political
        229 words
      • Article
        MANILA
        95 10 MANILA share prices rose across the board yesterday, sustaining a three-day rally, as anxiety over further political destabilisation eased, brokers said. They said there was some profit-taking by mid-session but heavy purchases by a foreign investor later triggered a buying binge. "Others followed suit until all the sectors showed
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      • Article
        NEW ZEALAND
        90 10 NEW ZEALAND share prices continued to improve yesterday, but not to the same extent as Thursday's Fletcher-driv* en rise. Turnover was low at 6.46 million shares, worth NZ512.98 million. The Barclays index estimate closed 4.09 points higher at 1,803.03 after Thursday's 22.67-point rise inspired by an eight-cent improvement
        90 words
      • Article
        JAKARTA
        59 10 JAKARTA stocks rose slightly in fairiy active in yesterday's half-day trading with 1.18 million shares changing hands. The composite index edged up 0.87 points to 581.63. Brokers said trading was selective, with only 26 of the 63 listed shares traded. The Jardine Fleming Nusantara index was 133.93, up from
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  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      76 10 N —-J B v Ty J mM~ WX>™ 1 I P 31 J*-* fl 9ft' $4 A MONTHLY MAGAZINE OF BUSINESS TRENDS Singapore, Hongkong as region's stockmarkets? Special report: Japan's yen for Singapore The big business of celebrating Pick of the region's quality stocks Simex's agenda for the 1990s Cruises
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  • WORLD STOCK MARKETS
    • Investors wait on sidelines for US economic reports
      • Article, Illustration
        NEW YORK
        969 11 BUYING related to the unwinding of arbitrage positions between stocks and stock index futures helped US stocks dose higher in light trading on Thursday. Traders said many investors were content to remain on the sidelines before a slew of economic reports due yesterday morning and the triple expiration
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      • Article, Illustration
        LONDON
        850 11 SHARE prices ended higher after a quiet session on London's Stock Exchange on Thursday, with little substantive news to account for the rise. "The market feels okay but there are few buyers and even fewer sellers," said one dealer. "We've been in a 50-point trading range for quite some
        850 words
      • Article
        AMSTERDAM
        250 11 SHARES of bank NMB Postbank recovered from their earlier losses on a generally higher but very quiet Amsterdam mid-session yesterday. NMB Postbank gained 0.30 to 49.20 guilders after first shedding 0.20 on the lower than expected 1989 net profit figure of 658 million guilders. The all-share index stood 0.4
        250 words
      • Article
        FRAKFURT
        157 11 WEST GERMAN shares closed mixed in quiet trade yesterday, as investors remained cautious ahead of the East German elections on Sunday. Dealers said there was no selling pressure, and limited buying interest. The 30-share DAX index gained 10.33 points to close at 1,889.69. The index was led higher by
        157 words
      • Article
        MILAN
        112 11 INDUSTRIALIST Carlo de Benedetti's CIR and Olivetti headed an advance in Italian share prices in active trading on the Milan exchange yesterday. The MIB index rose 0.4 per cent to stand at 984 at mid-morning. Milan Mar 15 Ure Ass Gen ***** +430 Bastogi 355.00 +5 Fiat ***** +120
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      • Article
        ZURICH
        241 11 SWISS shares traded steady to lower at mid-session yesterday. Dealers said overall volume was light with some activity in selected shares. The all-share SPI index was 1.7 points lower at 1,099.8 while the SMI index of leading bearers had eased 4.7 to 1,685.8. The Paris market report was not
        241 words
      • Article
        Untitled
        526 11 Brussels Mar 15 Fnuics FORWARD MARKET Accc 4850 20 Arbed 4920 +120 Astur 1358 +4 Brascan 748 +6 Canpac 738 +2 Cock 199 +5 De Beers 796 +6 Ebes 4110 -10 Gb-lnno-Bm 1220 -6 Gevaeit 8760 -40 Gr Bru Lamb 4040 45 Hobok Petro ***** +150 Ryl Dutch 2675 +10
        526 words
  • Page 11 Advertisements
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      Page 11 Advertisements Column 1
      279 11 ——J The regional manager for Warner Electric Asia-Pacific Industrial activities, Mr. Jeffrey Davies, has announced the expansion of the Singapore based operation from a representative office status to an incorporated sales, marketing and warehousing function. A move has recently been completed from Inchcape House to a warehouse in Hillview Terrace,
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      US dollar firms against yen, remains steady against mark
      1160 12 FOREX MARKET REPORTS THE US dollar yesterday closed firmer against the yen but steady against the mark after thin trading in the Asia's foreign currencies markets. In Tokyo, commercial buying nudged the US currency up in thin trading, but large-scale selling
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    • Article
      INTERBANK FOREX RATES
      388 12 Cross rates MaM6 US$ SS MS Dm Yen SFr AS NZS USS 1.8725 2.7160 1.6990 152.35 0.6173 1.5185 1.3236 1.7007 S$ 0.5340 1.4505 0.9073 0.8136 0.3297 0.8109 0.7069 0.9082 MS 0.3682 68.94 ***** 0.5609 0.2273 0.5591 0.4873 0.6262 Dm ***** 1.1021 1.5986 89.67 0.3633 0.8938 0.7791 1.0010
      388 words
    • Article
      MONEY MARKET
      561 12 Interbank rates ss Bid Offer Overnight 6 6 1/8 1-month 6 3/16 6 5/16 2-month 6 1/4 6 3/8 3-moomth 6 1/4 6 3/8 Overnight mode: 5-7/8 l'S$ Bid Offer 7 days 8 1/4 8 3/8 1 month 8 3/8 8 1/2 2 months 8 7/16 8 9/16
      561 words
    • Article
      Lock icon 'Union move will raise Bonn rates'
      311 12 AFP WEST GERMAN interest rates will increase by 2 per cent from current levels before the end of 1990 as a result of German monetary union, analysts at James Capel's Economics Research Unit said in London yesterday. Capel said that the West and East
      AFP  -  311 words
    • Article
      Lock icon Drexel's orphans without a street
      101 12 NYT AT THE end of business yesterday, Drexel Burnham Lambert Inc, whose parent filed for bankruptcy last month, will end its pricing service on more than 3,000 "junk bonds". In the process, it will orphan as many as 1,000 smaller issues in which other Wall
      NYT  -  101 words
    • Article
      FINANCIAL FUTURES AND OPTIONS
      1430 12 SIMEX nimtftija Open High Low Sett Est Vol Op/lnt Vol Mar 90 91.43 91.44 91.42 91.43 1062 9303 3010 Jun 90 91.23 91.24 91.22 91.23 6S32 ***** 8985 Sep 90 91.10 91.10 91.09 91.10 1567 4242 1340 Dcc 90 90.94 90.95 90.93 90.94 276 2482 387
      1,430 words
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  • COMMODITIES
    • Article
      Tin price rises on strong foreign, local support
      839 13 THE Kuala Lumpur Tin Market closed 10 cents higher at 17.14 ringgit a kg yesterday, mainly on persistent European, Japanese and local support, dealers said. 'The market looks firm. Sentiment was inspired by a higher London market yesterday," one dealer said. Dealers
      839 words
    • Article
      Lock icon Opec ministers split on pricing
      239 13 Reuter OPEC ministers preparing for talks in Vienna appeared split yesterday on how high to send oil prices in a sellers' market which beckons in the *****. Oil Minister Fawzi Shakshouki of Libya, a traditional price militant, said he wanted a target of at least
      Reuter  -  239 words
    • Article
      Tri-Petro to come onstream in 1993
      144 13 MALAYSIA has awarded a licence to a local firm to set up a US$l-billion oil refinery in northern Kedah state, Malaysian officials said. The Malaysian Industrial Development Authority (MIDA) issued the licence to Tri-Petro Corp, a whollyowned Malaysian company, last month, a MI DA
      144 words
    • Article
      Lock icon CME proposes dual-trading restrictions
      306 13 Reuter CHICAGO Mercantile Exchange governors voted to restrict the practice of dual trading and will send the proposed rules to members for a ballot vote on April 17, the exchange said in a letter to members. Dual trading occurs when a trader executes orders for a
      Reuter  -  306 words
  • Article
    PRICES
    1352 13 Rubber Mar i6 S cents/kg Noon Pose Int I RSS Prompt 152.*****.00N 152.5<V153.50 Int I RSS Apr 90 155.00*155.50 155.50/15* 00 Int I RSS May 157.50/158.00 158.00/158.50 Int 2 RSS OP 150.50/152.SON 151 00/153.00N Int 3 RSS OP 145.00/147.OON I45.50/I47.5ON Int 4 RSS OP 14I.OO/143-OON I4I.50/I43.50N Int 5 RSS
    1,352 words
  • Page 13 Advertisements
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      Page 13 Advertisements Column 1
      15 13 Read Chartpoint, a guide to investing in the stock market. Every Saturday in Business Times.
      15 words
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      Page 13 Advertisements Column 2
      591 13 NOTICES IN THE MATTER# OF THE COMPANES ACT (CHAPTER 90) AND IN THE MATTER OF CHATELET TRADING PTE LTD (Incorporated in the Republic of Singapore) (In Voluntary Liquidation) NOTICE OF MEMBERS' VOLUNTARY WINDINGUP NOTICE IS HEREBY GIVEN tiat pursuant to Subsection (1) of Section 290 of lha Companies Act (Chaptar
      591 words
    • Advertisement
      Page 13 Advertisements Column 3
      329 13 IN HI MATHER OP TIE COMPANIES ACT CAP. M AND IN TD MATTER OP 81 MP EN INVESTMENTS PTE HP VOLUNTARY LIQUIDATION) At an Extraordinary Oeneral Meeting of the Company, duly convened and held at 70S Wlsma Central, Jalan Ampang r." *****, Kuala Lumpur, Malaysia on March 16 1980, the
      329 words
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  • Article
    'S'pore ahead in financial hub race but yet to win HK hearts'
    488 14  -  From Catherine Ong in HONGKONG SINGAPORE is beating Hongkong in the race to be the financial capital of Southeast Asia but it has yet to win the hearts of potential immigrants from the territory, in the view of
    488 words
  • Article
    Lock icon Foreign banks post higher earnings in Indonesia
    277 14 AFP MOST foreign banks operating in Indonesia posted higher earnings last year in spite of stiffer competition unleashed by deregulatory measures introduced in late 1988. All 11 foreign banks which have been in Indonesia since the 1970s bolstered; their assets last year while
    AFP  -  277 words
  • Article
    Lock icon Dragonair taking over
    114 14 AFP HONGKONG'S fledgling airline Dragonair is to take over the scheduled air services between Hongkong and China currently run by local flag carrier Cathay Pacific Airways next month, it was announced in the territory yesterday. Under the new regional route arrangement reached in early March with the
    AFP  -  114 words
  • Article, Illustration
    No cutbacks in regional defence spending: Gration
    382 14  -  By Shoeb Kagda DEFENCE spending in this region is not likely to be affected by the cooling of superpower rivalry on the European stage, a high ranking Australian defence officer said yesterday. General P C Gration, Chief of the Australian Defence Force, said
    382 words
  • Article, Illustration
    Lock icon Faber taking over Drexel's HK business
    441 14 Reuter MARC FABER, the Hongkong boss of bankrupt US investment house Drexel Burnham Lambert, is to take over the company's operations in the British colony and plans a streamlined operation catering to clients who are rich and patient. The flamboyant ponytailed Mr Faber, who
    Reuter  -  441 words
  • Article
    Lock icon Malaysia can now borrow more cheaply
    237 14 Bernama THE COST of borrowing overseas will improve for Malaysia by at least 10 to IS basis points with the recent upgrading of her foreign currency bonds to A3 from BAAI by the credit rating agency, Moody's, the Treasury said yesterday. Malaysia can also
    Bernama  -  237 words
  • Article
    Report expects 2pc contraction in HK economy
    380 14 HONGKONG'S economy could contract by up to 2 per cent this year, as a result of a slowing domestic economy and the austerity programme in China, according to a report by the Economist Intelligence Unit in London. This forecast is far more pessimistic
    380 words
  • Article
    Lock icon Moves to make Sydney a leading financial centre
    235 14 AFP NEW SOUTH WALES Premier Nick Greiner predicted yesterday that an improved national regulatory framework would be in place by mid-year to boost Sydney's status as a leading world financial centre. This action would help Sydney in its bid to move past
    AFP  -  235 words
  • Article
    Lock icon Japan's economy robust as ever in 1989
    308 14 Reuter THE JAPANESE economy turned in another robust performance in 1989 owing to strong domestic demand, and its upswing is likely to extend into this year, government and private economists said yesterday. "The economy is in extremely good shape, and its expansionary trend
    Reuter  -  308 words
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  • Executive Lifestyle
    • STRAWS IN THE WIND
      • Article
        A steal at JB
        67 15 HAVING your car stolen in Johor Barn may not be such a bad thing after all, one victim discovered recently. After an intensive search, he found his car in a used-car yard, outfitted with a new air-conditioner and sports rims. His only regret is that he
        67 words
      • Article
        Sure miss
        43 15 SOME exhibitors were reportedly unhappy with the attendance around 6,000 for a recent four-day exhibition. "It was to quiet on some mornings that if you had blindfolded yourself and fired a shotgun, you wouldn't have hit anyone," said one Australian visitor.
        43 words
      • Article, Illustration
        Wrong notes
        90 15 IF cargo-handlers looked like this, maybe more people would want to work in the freight industry. But this is just Lulu Lin, Freight Mate of the latest issue of Cathay Pacific's cargo magazine. And would you believe the kind of text accompanying her picture: "We'd be lying if
        90 words
    • Article, Illustration
      Lock icon Guilty: music of the first degree
      923 15  -  Ever wanted to junk your job and follow a lifelong dream? Carpe diem seize the day and go for it. So sayeth a French lawyer turned conductor of the Paris Chamber Orchestra to Samuel Ee. Samuel Ee Ditching his brief for a baton, lawyer
      Picture by Samuel Ee  -  923 words
    • OPINIONS
      • Article
        Where executives don't hide their lamps under a bushel
        1156 16  -  Catherine Ong is much encouraged by the absence of the don't-quote-me types in Hongkong. Catherine Ong Catherine Ong is BTs Hongkong Correspondent. IREAD with great empathy the article by my colleague Andrea Borch last week lamenting the pervasiveness of the "don't
        1,156 words
      • Article
        Shed more light on court case
        227 16  -  LETTERS TO THE EDITOR Wong Yai Mow Managing Director, Acmes-Power Building Services 1 REFER to your article "Court ruling may affect future building contracts" (BT, March 7) and would like to find out more about the case. We are a building subcontractor in the
        227 words
      • Article
        Old vehicles are a bane
        170 16  -  Maria Choy (Mrs) for Permanent Secretary (Communications) Ministry of Communications Information WE THANK the many correspondents to your newspaper who -have commented on the tax surcharge on old vehicles. Over the past three years, the number of vehicles 10 years or older has grown by
        170 words
      • Article, Illustration
        You could have been a tax rebate, baby
        850 16  -  The recently announced procreation benefits are noble in aim. But will tney beget the desired results? Margaret Thomas ponders. Margaret Thomas Margaret Thomas. BT's Day Editor, is over 31. single, and childless. SINGAPOREAN? Female? Single? Over 31? Face it, woman, you're over
        850 words
      • Article, Illustration
        Call of the green should not be left unanswered
        634 16  -  A SURENDREN A Surendren is a reporter on the Executive Lifestyle Desk. WHAT SHALL we do with the golf courses that dot the island? One school of thought has it that some should be put to other uses. Another suggests opening
        634 words
    • TRAVEL
      • Article, Illustration
        Hey, lady, wanna blow your mind?
        1235 17  -  Tired of touristy places, silver souvenir spoons, and T-shirts that say 'I Love New York' or some such other myth? Go some place different for a change, like Lin Xue Ling did, where the only things the locals tout are some bootleg booze and
        1,235 words
      • Article, Illustration
        Qub Med's birthday bash
        298 17  -  By Samuel Ee JEAN-NOEL GUILHEM is a walking advertisement for the Club Med concept. The moment the amiable general manager of Club Med Services (Singapore) steps onto one of his properties, it's off with his bow tie and into a colourful T-shirt with the company name
        298 words
    • EPICURE 1
      • Article
        Superstition on the mind
        633 18  -  Quek Swee Peng pursues the prosperity path to Fortune Gate Quek Swee Peng ON REFLECTION, the rationale defies logic. But the reality which has since emerged is that Fortune Gate Restaurant has made an indelible mark in our diary: usually in the Dec 31 slot, and
        633 words
    • PURSUITS
      • Article, Illustration
        Grow like a champion, the natural way
        1028 19  -  Growing up rugged is not just about having a strong body and good stamina. It is also about having quick reflexes and an instinctive feel of one's body, says Richard Seah. Richard Seah MR GOH Chok Tong's call to build a rugged society
        1,028 words
      • Article, Illustration
        For a holiday with a difference, try vineyard-hopping
        824 19  -  WINE By N K Yong I ONCE TRIED to interest a large local travel agent into marketing vineyard holidays. He was very discouraging. Singaporeans love big cities and bright lights, with plenty of shopping, night clubs, and good eating. Or else they
        824 words
      • Article, Illustration
        Lock icon The new-look Jaguar you'll probably never see
        1061 20  -  Stuart Marshall at the Geneva show finds that the traditionalists have doubts about this Italian-designed Vl2 for the mid-*****. Stuart Marshall FT ONE OF THE star turns at the Geneva motor show is the idea from Italdesign's Giorgetto Giugiaro of how a Jaguar
        FT  -  1,061 words
      • Article, Illustration
        Lock icon Govt gets more Picasso treasures
        485 20 AP HUNDREDS of works by Pablo Picasso belonging to his wife Jacqueline, the dark-haired beauty who inspired the artist late in his career, have become government property in payment of inheritance taxes. French Culture Minister Jack Lang said on Wednesday that 49 paintings, 38 drawings,
        AP  -  485 words
      • Article
        The tip that won the Bols award
        798 20  -  BRIDGE By Sybil Holloway ZIA MAHMOOD's article Roll Oyer Houdini for the 1989 Bols Bridge Tip Competition was voted the best out of the eight submitted by top bridge experts who were invited to participate in last year's competition. Organised annually by the
        798 words
    • SPORTS
      • SIDE LINES
        • Article
          Lock icon Younger Garrido takes lead in Tenerife Open
          97 21 AFP GERMAN GARRIDO, younger brother of former Ryder Cup golfer Antonio, capped a day of surprises in the Tenerife Open on Thursday by snatching the first-round lead at the Amarilla Golf and Country Club. The lesser-known member of the Madrid golfing family enjoyed
          AFP  -  97 words
        • Article
          Lock icon Winning despite winds
          102 21 AP MARTA FIGUERAS-DOTTI of Spain and Nancy Rubin escaped swirling winds and shot 5-under-par 67s to share the first-round lead of the US$3OO,OOO LPGA Tucson Open. Figueras-Dotti and Rubin were two of 14 players from the morning tee times who broke par 72 in play on Thursday.
          AP  -  102 words
        • Article
          Lock icon Penguins shed losing streak
          81 21 AP MARK RECCHI and Phil Bourque each scored two goals to help the Pittsburgh Penguins end a four-game losing streak with a 6-1 victory over the Detroit Red Wings on Thursday. With the Red Wings' loss, the first-place St Louis Blues clinched a play-off berth in
          AP  -  81 words
        • Article
          Lock icon Robinson achieves lap record
          58 21 AP CHIP ROBINSON's car quit but he still managed to set a new fastest lap mark on Thursday white earning the pole position for the 38th annual International Motor Sports Association's 12 Hours of Sebring today. Robinson, driving the No 84 Nissan GTP-ZXT Turbo, manoeuvred Sebring's
          AP  -  58 words
        • Article
          Lock icon Soviet-Argentine sports venture
          61 21 AFP ARGENTINA and the Soviet Union have agreed for the first time to create a joint business to equip 1,200 Soviet sports centres. A bilateral commission met in Buenos Aires for three days and agreed to raise economic ties between the countries. The Soviet Union is the
          AFP  -  61 words
        • Article
          Lock icon Japanese out of US4 97m deal
          109 21 AP A JAPANESE sporting goods company that was co-partner in the USS97 million purchase of Gulfstream Park dropped out of the deal because of delays in state approval, according to a horse racing mogul. Victoria Co Ltd last November entered into a 50-50 partnership
          AP  -  109 words
        • Article
          Lock icon Promise of violence
          83 21 AP COMMONWEALTH GAMES super-heavyweight boxing champion Mike Kenny has a message for the thief who stole his gold medal: "Wait until I get my hands on you." The medal, which New Zealander Kenny won by outpointing Liadi Alhassan of Ghana in the Games final in Auckland in
          AP  -  83 words
        • Article
          Lock icon Harding can hardly wait
          113 21 AFP AUSTRALIAN Jeff Harding is trying hard not to sound too confident about defending his World Boxing Council (WBC) light-heavyweight crown in Atlantic City tomorrow against Argentina's Nestor Giovannini. "I'm always confident, but never overconfident," he said. "That can knock the edge off your incentive. But
          AFP  -  113 words
        • Article
          Lock icon Around the world in 109 days
          97 21 AP FRENCHMAN Titouan Lamazou broke the record yesterday for the fastest solo sailing voyage around the world, returning to this Atlantic port 109 days after the start of a 13-boat race. Lamazou, 34, covered about 43,200 km in winning the inaugural Vendee Globe Challenge
          AP  -  97 words
        • Article
          Lock icon Aouita not fast enough
          75 21 AP SAID AOUITA of Morocco raced to victory in the 3,000 m race on Thursday, but failed to break the longstanding indoor mark for the distance. Aouita, the only international star at the three-event City of Oviedo meet, won in 7 minutes, 44.21 seconds, too slow
          AP  -  75 words
      • Article, Illustration
        Minoza cards day's best score
        400 21  -  By Charles Savage AT THE midway mark, the Epson Singapore Open is a close battle with only four strokes separating the top IS golfers. Yesterday, Taiwan's Kuo Chie Hsiung sank three birdies each way to card a 5-un-der-66 and tie for the lead with Korean
        400 words
      • Article, Illustration
        Lock icon Chavez's record on the line
        189 21 AFP MEXICO'S Julio Cesar Chavez will be putting a lot more than his World Boxing Council (WBC) super-lightweight title on the line tomorrow when he faces International Boxing Federation (IBF) champion Meldrick Taylor. Chavez, who has held titles in two other weight classes, will be
        AFP  -  189 words
      • Article
        Lock icon The battle of two Florida teens
        434 21 AP WHILE defending champion Gabriela Sabatini may be the top seed among women, much of the fans' attention will be focused on a match between two Florida teenagers at the US$2.5 million International Players Championships. Thirteen-year-old Jennifer Capriati will play Luanne Spadea, 17. Sabatini,
        AP  -  434 words
      • Article, Illustration
        Lock icon Pistons power to ninth straight win
        377 21 AP THE Detroit Pistons won their ninth straight game and 22nd in 23 outings on Thursday night as Joe Dumars scored 21 points and James Edwards 20 in a 110-98 victory over San Antonio, snapping the Spurs' three-game winning streak. Detroit, locked in a
        AP  -  377 words
      • Article, Illustration
        RESULTS
        85 21 LEADING GOLFERS at the midway mark of the Epson Singapore Open. FIRST: 134 Kuo Chie Hsiung (Tai) 68, 66 (33, 33), Choi Sang Ho (Kor) 66,68 (34, 34). THIRD: 135 Lucien Tinkler (Aust) 68, 67 (33, 34), Anthony Gilligan (Aust) 68, 67 (33,34), Frankie Minoza (Phil) 70,65 (33, 32),
        85 words
      • Article
        Lock icon Mark finds his short game again
        359 21 AFP MARK CALCAVECCHIA has found his short game again, hitting a five-under-par 67 that gave him a share of the lead at Ponte Vedra in Florida on Thursday after the first round of the US$l.5 million Players Championship. Calcavecchia, a runner-up two weeks in
        AFP  -  359 words
    • REVIEWS 1
      • Article, Illustration
        Helpful hints for marital bliss
        491 22  -  By Jaime Lye Marriage, as in life, is not a bed of roses. So they say. Indeed, it takes a lot of manure to grow some pretty flowers, so if you can't take the smell, maybe you should try a different hobby. So, if you
        491 words
      • Article, Illustration
        They're not angels and they definitely aren't funny
        465 22  -  By Samuel Ee DEAR Mr Movie Maker, I am most distressed that you have not filed a missing persons report for the two lost monks in your movie. I mean, it's okay if you want to make Robert De Niro and Sean
        465 words
      • Article, Illustration
        Where money reigns supreme
        944 23  -  BOOK REVIEW By David Gabriel Liar's Poker By Michael Lewis Hodder A Stoughton, 1989 224 pages THE YEAR was 1975. Money traders liked to gather in the bars of various Singapore hotels, ample evidence of an emerging career in the new financial market. Sitting around in
        944 words
      • Article, Illustration
        Polished effort second time round
        404 23  -  CD Reviews By Roger Loh BASIA: London Warsaw New York (Epic) POLISH singer Basia Trzetrzelewska (pronounced Basha Tshetshelevska) took the pop music world by surprise with her gentle emotionalism on her debut release Time And Time. She doesn't appear to suffer from a sopho- moric
        404 words
    • PERSONAL FINANCE & INVESTMENT 1
      • DON'T QUOTE ME!
        • Article
          No chickening out of this deal please
          104 24 INDONESIAN tycoon Liem Sioe Liong is going to the chickens, literally. His Salim group, already the biggest conglomerate in Indonesia, is expanding yet again. This time it is gearing up to take over the Gelael group which owns a number of supermarkets, food
          104 words
        • Article
          Trading paper for paper?
          90 24 ONE of the latest companies to be listed in Indonesia is owned by Mr Eka Tjipta Widjaja, the father of United Industrial Corporation head Oei Hong Leong. Mr Widjaja, once called the palm oil king of Indonesia, is offering the public 9.3 million new shares in
          90 words
        • Article
          Outdone by American Airlines
          123 24 IT MUST have come as a shock to the Asian airlines, famous for their services, to be outdone by an American when it comes to the standard of in-flight food. In a recent business traveller airline food and wine competition, American Airlines was voted as having
          123 words
        • Article
          Crisis boosts land prices
          107 24 QUOTE of the week goes to outspoken Japanese developer Huji Yokoyama, commenting on the escalating property prices in Tokyo. "There is no land policy in this country. There aren't even specialists in housing problems. The people have a crisis feeling about land prices, that is why
          107 words
      • Article
        Lock icon Sri Lanka shares on the rise as violence subsides
        324 24 Reuter SHARE prices on Sri Lanka's tiny stock market are on the rise, brokers and analysts say, thanks to an abatement of violence on the island and plans to allow tax-free investment by foreigners. "It is unbelievable. Six weeks ago I
        Reuter  -  324 words
      • Article, Illustration
        Meet newcomer Burwill
        851 24  -  STOCK By Andrea Borch BURWILL Holdings Ltd is coming to the local market seeking to increase its regional business and shareholder base. The Hongkong-based trading group, which has received in-principle approval for a secondary listing on the Stock Exchange of Singapore, has built its name in trading
        851 words
      • Article, Illustration
        Sterling still vulnerable to political volatility
        438 24 MONEY THE editorial comments in the Financial Times of March 10 suggested that the UK government "has run out of luck". Indeed that seems to be very true for the pound sterling as evident by the sharp fall last week. Having rallied, rather gradually,
        438 words
      • Article, Illustration
        Lock icon Lethargy keeps barrier intact
        141 24 CHAM Cresvale Far East THE Straits Times industrials index failed to break through the 1,600 barrier but gained support near the 10-week moving average. The sharply lower volume indicated a lack of interest in the market. The declining buying pressure and selling pressure also give a
        — Cresvale Far East  -  141 words
      • Article
        Warrants: premiums and gearing
        585 24 PHow(M«t 16.3.90) Con vonrion term* Expiry (awcowni; Amount Option*" mm Company Itouod Wrte Shin Ln itk Lneflt 1 ""~T Gwrlng M»h« (m units) Conv Ewr c*»h c««h" Uietk* TJ7 ratio prieo vaiu« f 9 CKTang 16.9 2.340 4.700 1.00 225 -2 2.01 31.5.90 2 Causeway Inv
        585 words
      • Article
        Lock icon Tokkin will outlast the blues
        684 25 With higher interest rates, Japanese corporations find little incentive to invest in tokkin. But analysts think this risky financial instrument carries advantages too good to be dismissed. Reuter JAPANESE corporations are pulling their money out of tokkin (special money trusts) and fund trusts, which had
        Reuter  -  684 words
      • Article
        Lock icon Country funds growing more accessible
        581 25 It might soon be time to risk a trip into the woods, say analysts NYT THE country-fund mania that swept share prices to a 31 percent premium at the end of January is subsiding. This means there may be some attractive investments soon in these
        NYT  -  581 words
      • Article, Illustration
        Lock icon Uncovering the faceless men
        916 25  -  Sara Webb homes in on the fund managers who matter most to investors. Sara Webb FT THERE is something very impersonal about the unit trust industry. To the outsider it appears to be run by faceless fund managers in grey suits whose names rarely crop up
        FT  -  916 words
      • Article, Illustration
        Lock icon Boom in swap business expected to continue
        623 25 Reuter JUNK bonds may be tarnished, but the booming market for currency and interest-rate swaps shows no sign of losing steam, industry analysts say. But there are risks as well as opportunities which will be discussed at the three-day annual meeting of the
        Reuter  -  623 words
    • EXECUTIVE JOBS
      • Article, Illustration
        Building a better mousetrap
        890 26  -  CIDB head Chow Kok Fong joins grivate industry next month as Guthrie ngineering's chairman. Martin Soong reflects on the construction guru's rise, and finds out what's next. Martin Soong During the height of the building boom in the early 1980s, contractors, and other assorted industry wags
        890 words
      • Article
        Lock icon Hints on avoiding the vanities of vision
        998 26  -  By Michael Dixon FT DO YOU have vision? If not, the signs are that you have a diminishing chance of reaching top rank in a biggish business. When the pundits more than two decades ago took to drawing up the corporate equivalents of
        FT  -  998 words
      • Article, Illustration
        PEOPLE IN BUSINESS
        371 26 Prithpal Singh has joined Hotel Properties Ltd as vice-president, leisure and tourism. In his new capacity, Mr Singh is responsible for identifying, developing and promoting new tourism and travel-related opportunities in Singapore and South-east Asia. Prior to his new appointment, Mr Singh was general manager of Tour
        371 words
      • Article
        Classified jobs in the classifieds
        129 26 WORK for a company with an international network of offices and representatives. Travel to exotic places. Meet interesting people. Then subvert them. It's not often that you come across an ad in the classifieds announcing job openings at the Central Intelligence Agency. The Company, as
        129 words
      • Article
        Round pegs for round holes
        176 26 ERNST YOUNG Consultants has set up a psychological testing centre here, reputedly Singapore's first, for job assessment, training and development. An E&Y statement said the centre, the first of its kind here, offers a range of educational, clinical, and industry psychological testing The tests, it
        176 words
    • THE TRAVEL PAGE
      • Article
        AIRCRAFT ARRIVALS AND DEPARTURES
        1017 27 aty Flight ETA FNfht no MM DfcaM QA976 GA896 0005 2305 SQ226 Qf81 SQ23 KL837 1910 2105 0935 1505 KL838 2150 Atfcaas 0A471 QF16 0015 1820 faKfclMd TE25 TE25 SQ338 1410 1640 2025 TE28 TE28 QF5 1525 1800 2230 GA525 /910 1755 totorW BI421 SQ181 BI429
        1,017 words
      • Article, Illustration
        Pampered fitness for the wealthy
        724 27  -  LETTER FROM LONDON By Heather Farmbrough THERE IS nothing to stop you doing exercises in your sitting room, walking the dog or abandoning the car to keep fit, but none of these is likely to make you feel as pampered, relaxed or indulged as membership
        724 words
      • Article
        MONEY CHANGER RATES
        153 27 As ft 3 Dm vMtardiv: Local dollars to ooe unit of foreign curacy Currencies Bid Offer Australian dollar 1.405 1.4290 Canadian dollar 1.5700 1.5900 NZ dollar 1.0800 1.0900 Sterling pound 3.023 3.053 US dollar 1.8690 1.8790 Local dollars to 100 nhs of foreign cwracy Austrian schilling 15.20
        153 words
      • Article
        WORLD TRADE EXHIBITIONS
        131 27 Duration Title Venue Organ iaer Td Duration Title Venue Organiser Td Mar 10-23 Cairo Cairo Ministry of (20)2/*****10 Fashion Fair Munchen GmbH International Economy A Apr 44 Housing and Bilboa. Fern (34)4/*****00 Fair Foreign Trade Building Spain InternacionaJ Mar 17-20 International Pans Comite Dei (33)1/*****000 Appliance de
        131 words
    • TIME OFF
      • Article
        THEATRE
        72 28 Some Say An original play written by Kuang Farong and presented by the Necessary Stage. A stylised play about four teenagers, each in search of themselves. In the process, they discover the appearances and facades that people create. As the play progresses, they find themselves caught in the same
        72 words
      • Article
        MUSIC
        118 28 Piano recital The internationally-ac-claimed piano duo James Anagnoson and Leslie Kinton will be giving a one-night performance.The duo, who began their career together in 1975, have been credited with outstanding musicianship, impeccable technique and the ability to communicate at all levels. Some of the pieces at the recital will
        118 words
      • Article, Illustration
        EXHIBITIONS
        398 28 The English Pilot A collection of beautiful charts (published 1734) by two brothers, John and Samuel Thornton, is presented by Antiques of the Orient. John and Samuel Thornton were both hydrographers. John, the elder brother, was an entrepreneur who also was an instrument maker and a specialist in naviagtion.
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      • Article, Illustration
        SPECIALS
        230 28 The Third Singapore Film Festival Much awaited by film buffs, the festival promises to be an artistic treat. About 60 films from over 25 countries will hit the big screens here. Io addition, there will be a fringe programme featuring--20 independent, short films from Asian countries. Some of the
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      6 15 Club Mcd's birthday bash, EL 3
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      130 15 NEED A HfMisniftinaii? jH^] CtH LttAfrwni «y plw, Mjf fIK 11 L -*****440r222 M 4- J "WE DID IT, FIRST TIME ROUND. AFTER ALL THOSE YEARS WE SPENT TOGETHER AT SCHOOL, I KNEW WE'D MAKE AN UNBEATABLE PARTNERSHIP." OMEGA. The watch that records the world's significant moments. At the Olympic
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      132 16 Join us in a traditional Sunday Toast. fwi oiuiim iINCtPOK Announcing a new menu sure to add some extra sparkle to your Sundays. Fourchettes, at The Oriental, Singapore, is pleased to introduce their Sunday Champagne Lunch. Join us in a toast to champagne with a menu created around the very
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      40 16 DOONESBURY USTCN.KIO.I KNOW All OF THIS DONNit' UM .H& HASBGEN ROU6HONiOU, SOI ujHfiTSUttJNG UH VWR& NOT ASSISTANT. MARJANN6-* JUST WANTED TO (All AND IST UMTHTOU*. NOTHING PON! WHO MR TXUMf»S HOW* PONALP *XJ KNOW HOW MUCH I STILL ISTHIS* m>UP*XXU.
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      33 17 <1 TwBBBPKffI' I Hl^ *(r 9 1 I Bkf- B Hbt iSfc M B^^b i J| f MorV«t»d by UJO9 Singapore From Indonesia with Love >^^r Available on WEA Cassettes CDs u j^^r
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      700 18 WHERE TO WINE, DINE AND ENTERTAIN... WHERE TO WINE, DINE AND ENTERTAIN... WHERE TO WINE, DINE... Didn't I see you at Scandals? Every Monday: High Fashion Night. Every Thursday: Ladies Night. Every Night: The place to see and be seen. Scandals. Singapore's most sophisticated club and meeting place. For details
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      288 18 I KIWI FARE I IS A GREAT AFFAIR I an<^arin Singapore presents the cQ&js. Flavours of New Zealand from 7 —17 H Mar '90. Chef Anthony Smith from H 3th floor New Zealand will demonstrate the H multi-cultural versatility of lamb in his award- H winning dish "Lamb Flavours of
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      272 19 AND ENTERTAIN A Culinary Tribute To Fresh Rtver Salmon. From March 2 to 17, you can enjoy fresh river salmon, specially airflown from Norway, for dinner every night at Hubertus Grill. We offer thirteen sumptuous ways to enjoy this delicacy. So, make a reservation now and enjoy the best Salmon
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      71 19 Qf Frisco ofTer the finest continental cuisinc with cosy, friendly ambience. EXCLUSIVE BUSINESS LUNCH 11.00 am to 2.30pm Set Lunch 0 $28.00++ per person (menu changes daily) ROMANTIC DINNER 6.00pm to 10.00pm Candle-light Set Dinner 9 $25.00++ per person HAPPY HOURS 3pm to 10.00pm All alcoholic beverages except wine are
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      290 19 The art of doing business. Fourchettes Business Lunch. HfIfIHHBH I At Fourchettes Grillroom, one of Singapore's finest business lunches awaits. The freshest oysters. Goose Rillettes and other appetizers. Main courses from the Grill, or Roast US Prime Rib from the Carve ry Accompanied by the most exquisite Desserts, "Eras and
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      723 20 V Malaysian Tobacco Company Berhad PROFIT AND DIVIDEND ANNOUNCEMENT The Board of Directors announce the following audited results tor the year ended 31st December 1969. 1969 19M Change (W-) Company Group Company Group Company Group MS'OOO MS'OOO US'OOO MS'OOO Turnover 356,727 496.540 475.243 499.207 25.1 1.3 Trading Profit l 10,901
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      26 21 EPSON SINGAPORE OPEN GOLF CHAMPIONSHIP. (AN EXCLUSIVE EVENT NOW OPEN TO THE PUBLIC). Bukit Course. Singapore Island Country Club. Tee-ofif at 8 am. Admission is free.
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      59 22 If you find THE BOTTLE IMPRESSIVE, W AIT UNTIL YOU TASTE THE SCOTCH. i; i iiiuiuttmtr -fc i"r 1 f- ill Iff I r 111 V .UN V c v >' I* 1 V I '^l 0. dWs!iS\ tl y mgW?J\ 'J I. x <-*-/. r*T7i vi 1 \ifC- w
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      44 23 VOL' FIND rLE IMPRESSIVE, UNTIL YOU THE SCOTCH. r J. HAIG C C f pinburch 9 SCOTLAND I fl mm.mi..i.»..i, Mm] j v D~ XB| i V I 441 A\ 1 I y I >•»- I E. FROM THE OI.DESI DISTILLERS OF SCOTCH WHISKY. I
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      50 24 SOTHEBY'S FOUNDED 1744 A Preview Exhibition of MAGNIFICENT JEWELLERY to be sold in New York The Regent Singapore Rosewood Room 2nd Level 19th March Monday 11:00 am s:oopm 20th March Tuesday 11:00 am 7:oopm Enquiries: Sotheby's Singapore Branch No. 1 Cuscaden Road #01-07 The Regent Singapore Tel: 732-8239 Fax: 737-0295
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      158 25 INVESTING IN SHARES? CALL I v > k :.n I ASK FOR cf EDIT PLUS When opportunity knocks you'll want to be It's so easy and convenient to apply for CREDIT ready. Here's where Hong Leong Finance PLUS. Drop by any of our 28 conveniently located and Singapore Finance can
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      125 26 DHL IN THE NEWS Advertisement Mp|Af Hnmni itpr terrier's office. It automatically prepares i|/w ivi airbills, prints shipping labels, weighs facilitV for packages and applies the proper rate based on weight and destination, pronUl'c Ol ICtnmorC v ides daily summaries and invoicing for L/r,L, vUOIUIIICIO easier accounting, and facilitates conDHL
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      45 26 3 A MONTHLY MAGAZINE OF BUSINESS TRENDS Singapore, Hongkong as region's stockmarkets? Special report: Japan's yen for Singapore The big business of celebrating Pick of the region's quality stocks Simex's agenda for the 1990s Cruises for everyone Investment spotlight on Polytek Wearnes, Metaiock MARCH 1990
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      210 26 NRI Nomura Research kistitute (S) Pte Ltd SECURITIES ANALYST FOR EMERGING LOCAL MARKETS A Global R—arch Institute, whosa client is an international investment bank, seeks to recruit an analytical and research oriented individual to join the Institute. Reporting to the Managing Director of the Institute, the incumbent is responsible for
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      61 27 w A The busnru pAm'i choicc every Tundiy, g II f l\ g g Thunday, Saturday and Sunday. Leaving hin*i I I—l I I 111 _f 1 Airport A 2135 hown and arriving x OHire i 111 K m International Airport the following day. Csllyomr travel Mgrnt or Air Ctrudt
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      Page 27 Advertisements Column 2
      139 27 When you want more business, use Timeszone. At only $140 per panel (10cmx2cols) or $7 per 0 column centimetre o Ji—4.— Timeszone offers the nnofthnc P erfect mee,in s p |ace for I KoiiHBM buyers and sellers. WMWHWW Ca|| Marvjn Chjn Qn PIIQtnmPPQ 730-5956 or Nesa on UIIOIUIIIIfI V 730-5965
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      158 27 24 Not a hit with the boys? P' on °f a cause 7 25 Beast held by hostages (4) 8 Told off, having been (4) 26 Characteristic touch (5) given a lift to work 27 Extend distance before (5,2,4) last bit is curtailed (8) 11 Thirty second request YESTERDAY'S SOLUTION
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      223 27 Singapore OUTLOOK: Fair Report for 24 hours prior to 7.30pm on Mar 16 at the airport: Max temp 32J) Assoc humidity.............................. 64 Mia leap 217 Assoc humidity 89 Hrs of i—hif 3JS Rainfall ia am Nil Raiafall this nth 89 J Raiay days this mt h 2 Forecast for the
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      31 27 EggygBSfIWBWWBI l\ OoN' T Cß«c.u>Hf«r I One. OFfnenn just pccuser>\ topi o*secoßny) VgLgSw ftJuiwa.... LR«e.»JTCAses.... F fvou PCRKtMS 1 tZPn 7 Aeopue (w*x>es &c.u*Re)? .w- v CtVBWMO rTAWOAWP CO. LTBI. IMHW
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      1895 28 TODAY'S TV ■VSnrKPTiTRraHI The Hew Tkw Stooges. ■KASAASUMMfIiH 8.30 Happy Castle. Sou km Street Backstage, 9p*l, SBC 10.00 Sayings of a Prophet Danny J®J* attl and directed The War of the J" D l the comedy r~:. l to town. See OUhim how the film was made, and the Equator.
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      503 28 RADIO HIGHLIGHTS century travel agent Thomas Cook, who opened up continental travel to the middle classes. And on today, when BBC Science Magazine, And 50 to Rad 5 of course aeroplanes have Radio 5,7.15pm 8.30pm spread that process across This edition looks at the ma- The second of a 2-part
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