The Business Times, 21 July 1990
1990-07-21
1
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The Business Times
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Title Section11 1990-07-21 1 Business Times MCI (P) 170/12/89 Weekend Edition, July 21-22 1990 75*11 words
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NEWS & MARKETS SUMMARY
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Article41 1990-07-21 1 US BLUE chip stocks opened higher but fell back in early Wall Street trading yesterday. After one and a half hours of trading, the Dow Jones Industrial index was at 2,994.80 points, a 0.99 point advance on Thursday's close.41 words
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Article42 1990-07-21 1 SHARE PRICES were up at midday yesterday with dealers reporting strong underlying investor support despite of an explosion at the London's Stock Exchange building. At 1115 GMT, the FTSE-share index was up 11 points, or O.S per cent, at 2,398.3.42 words
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67 1990-07-21 1 NORTH KOREA yesterday swiftly countered a South Korean challenge to temporarily open its heavily fortified border, laying down strict conditions before Koreans could walk between the two halves of their nation. Pyongyang imposed the conditions less than 10 hours after South Korean President Roh Tae-woo made67 words
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Article34 1990-07-21 1 RETAILER Isetan has obtained in-principle agreement to take up 16,000 sq m of shop space at Shaw House, the $100-million commercial-cum-cinema complex being developed by the Shaw group Page 334 words
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Article26 1990-07-21 1 SIX INDEPENDENT insurance brokers based in the Far East have formed an alliance to expand the scope of their international insurance business. Page 526 words
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Article33 1990-07-21 1 Lm*hG«H PM fix US$361.00 -USS1.30 S'pore Aug I33.25*/Icg +0.23 M'n Aug M231.50 '/kg +0.1 kl ih Turnover 60 tonnes <13 Spot M$16.10/kg 10 Ml prfi Turnover 671 lots +190 Aug M$664/tonne -I33 words
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Article, Illustration29 1990-07-21 1 Friday Ounce BT-MGA 811.12, -1.32 Kuala Lumpur ....62S.79 -3.74 Hongkong 3,340.43 +16.85 Tokyo 32,421.5 -634.10 Sydney 1602.7 -5.5 TknAqr Chute New York 2,993.8 +12.13 London 2,387.3 -14.729 words
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Article18 1990-07-21 1 ExdiJMf* ritu USS SS 1.8145 Yen SS 1.2231 MS SS0.6707 Overnight 5% -5/8 3-month 7 3/16% +1/1618 words
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571 1990-07-21 1 Abdul Hadhi - By Abdul Hadhi IN A RARE move, the Stock Exchange of Singapore (SES) has publicly censured InnoPacific Holdings (Inno-Pac) and its financial advisers N M Rothschild Sons (Singapore) for their roles in a capital raising exercise last year. It issued a statement yesterday571 words
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Article, Illustration64 1990-07-21 1 Followed by cheering team-mates, the University of Michigan's 'Sunrunner' solar-pow-ered car cruises into the General Motors Tech Center in suburban Detroit, taking first place on Thursday in the GM Sunrayce, an 11-day, 1,600-mile solar-powered car race. The carmaker will send and the two other top finishers of64 words
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322 1990-07-21 1 Reuter MASS INJECTIONS of credit have pulled China's industry from the brink of recession but at the cost of creating vast stockpiles of unsold products, official statistics released yesterday show. Western diplomats analysing the data said the government's financial situation was deterioratingReuter - 322 words
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446 1990-07-21 1 Alvin Tay - By Alvin Tay RISING local interest rates and a strong Singapore dollar have slowed the growth in foreign currency deposits by local resident, say the Monetary Authority of Singapore and bankers. The MAS says in its 1989/90 annual report that446 words
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181 1990-07-21 1 THE ASSOCIATION of Banks ia Singapore (ABS) has received a number of complaints from retail 1— who have suffered losses from exchange rate flnctnnrtons on their foreign currency dtposits. The ABS says ia its 1989 snnnal report that it recommended a few courses181 words
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Page 1 Advertisements
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Advertisement96 1990-07-21 1 -7 MHron i > el iiw MrenA SdwMo a 11 Cm infill 15 CMpwy NM f 4 CrfffcCmmori 11 EmcsHNMO EL 8 Fataoo I Opto* 14 MvtMk Fore Rata 14 KL» 10 fthMyOMprlttai a 11 Monty MnM 14 fapotaStodlfcrlMts 12 SES 8, 9 Ship* in Port 2 Sma 14 Sports96 words
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Advertisement22 1990-07-21 1 OPINIONS Rid of Ridley, but not the sentiments. EL 2 V -$6 Business and certain kinds of pleasure don't mix. EL 222 words
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Advertisement16 1990-07-21 1 LIFESTYLE Movie review: Robin Williams runs out of gas. EX 3 A car for heroes. ELS16 words
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Advertisement207 1990-07-21 1 HlHull a gfl^^Rßjl lady JOBS Inchcape Bhd'sMD: A singular Englishman. EL 8 FINANCE Understanding the BT-MGA Index. EL 9 A strong took for the Canadian dollar. EL 10 'v- 14 X— V Tliere Are Tkoae Wl»o Recognise Tke Craft Of Gerald Genla. And There Are Hrne Wko Can Also Afford207 words
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HOME NEWS
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NEWS ROUNDUP
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71 1990-07-21 2 SIX, STUDENTS from the French International Institute for Marketing and Retailing Management arrived in the Republic last month for a six-month attachment at the Ngee Ann Polytechnic. Apart from joining local final-year students for academic classes, the French students will be hosted to71 words
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Article69 1990-07-21 2 THE National Trades Union Congress, in a letter to the Trades Union Congress of the Philippines (TUCP), conveyed its deepest sympathy for the loss of lives from the recent earthquake that struck the country. The statement said that the NTUC was sure that the rescue and relief69 words
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Article67 1990-07-21 2 THE Chemical Industries Employee's Union will hold its 3rd Triennial Delegates Conference at the Regional Language Centre on July 25. Mr Goh Chee Wee, assistant secretarygeneral of the National Trades Union Congress and Member of Parliament for Boon Lay, will deliver the keynote address. Held once every67 words
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Article49 1990-07-21 2 The Housing and Development Board spends about $22 million a year to repair and maintain the roofs of its flats. It manages about seven million square metres of roof and has to ensure that these shelters effectively keep out the rain and the heat.49 words
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Article55 1990-07-21 2 A special stamp issue to celebrate Singapore's 25th Anniversary will be issued by the Singapore Philatelic Bureau on Aug 16. Its release will also be in conjunction with Singpex '90, an international stamp exhibition sponsored by Singapore Telecom. It will be held from Aug 16 to 1955 words
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Article70 1990-07-21 2 THE United Overseas Bank group yesterday awarded four scholarships for study at the National University of Singapore and the Nanyang Technological Institute. Of the four recipients, two will pursue law, and one will do accountancy, at the NUS. The fourth recipient will study accountancy at the70 words
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Article, Illustration374 1990-07-21 2 AN EXCITING cultural hub is forming in the Civic District, with the government speeding it along with plans for a museum precinct and the Singapore Arts Centre to be ready by the turn of the century. Second Deputy Prime Minister Ong374 words
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254 1990-07-21 2 TOA PAYOH Hospital (TPH) and Kandang Kerbau Hospital (KKH) yesterday said they will raise their fees from Aug 1. The increases will bring their fees to the levels charged by government hospitals since May when the Ministry of Health announced its decision254 words
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319 1990-07-21 2 Anne Lee - By Anne Lee THE Information and Technology Institute (ITI) has joined forces with two companies to jointly develop and market an electronic document management system, which makes use of imaging technology. A memorandum of understanding was signed yesterday by ITI,319 words
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205 1990-07-21 2 SINGAPORE yesterday took another step towards a more technical and job-oriented education system with the signing of a cooperative agreement between the Singapore Polytechnic and a similar Swiss institution. The agreement calls for the exchange of staff, students and research information between Singapore205 words
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SHIPS IN PORT
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Article396 1990-07-21 2 Venal ¥»i lb Berti ktM Dapartre CIO 20.07/1600 Kota Bern E-859 K31 alongside 24.07/1830 Sfcer Haw*3 34A K34 alongside 22.07/0700 Srn*aya 29WB K18 ator*side 21.07/1200 Ms Endeawu 14EB K29 21.07/0030 21.07/1500 Or At*o Ma 36EB C10 21.07/0730 22.07/0600 Lngo 28H K33 21.07/0700 21.07/1830 Muitan Km K32 20.07/2215396 words
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Article1041 1990-07-21 2 RECEIVING Of EXPORT Fa COHTAHEHS AND La CAB60 Rtcorri Beefchg/Meice Mb 9# Voy No Ptriod From To From P tf DbdU Spact to Rose 1A 3 21/0700 21/1159 21/1400 4 21/1200 21/1459 21/1700 Ad Goncharo 20SI90 4 21/1200 21/1459 21/1700 Atost* mo 14-90E 3 21/0700 21/1159 21/1400 41,041 words
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Article325 1990-07-21 2 Nit 10—g South Pert en htfy 20. Young Chemicarry berth 2; Pacific Ocean berth 3; Kns Merub berth 4; Hong Soon berth 7; New Man Hng berth lk KCT: Kns Lernona berth 8; Canfca berth 8; Swadaya berth 9; J Chelmonslu berth 9; Ned Imp berth 10;325 words
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SINGAPORE – MALAYSIA COMPANY NEWS
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596 1990-07-21 3 Koichi Ishiyama, Lim Mui Khi - By Koichi Ishiyama, Lim Mui Khi RETAILER Isetan (S) Ltd has obtained in-principle agreement to take up 16,000 sqm of shop space at Shaw House, the $100 million commercial-cum-cinema complex being developed by the Shaw group. When the complex596 words
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Article, Illustration213 1990-07-21 3 Elaine Koh - _b? Elaine Koh HOTEL Marco Polo's improved design on its proposed $600 million retail and office complex at Paterson Road has been accepted by the Urban Redevelopment Authority. Marco Polo, the sole tenderer for the site, was awarded the213 words
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Article, Illustration532 1990-07-21 3 MARKET TALK MBT REMEMBER Arah Murni? The private company recently bought 33.99 million shares or a 25.1 per cent stake in Roxy Electric Industries from the Lee family which immediately sparked off speculation that there may be some boardroom changes in Roxy.MBT - 532 words
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538 1990-07-21 3 Bernama FELDA, the second biggest shareholder in Boustead Holdings Bhd, is likely to reject a takeover offer from Lembaga Tabung Angkatan Tenten (LTAT) following a recommendation from its representatives on the Boustead board. LTAT, the Armed Forces fund, is making a conditionalBernama - 538 words
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348 1990-07-21 3 NST GRANITE Industries Bhd has acquired 2.26 hectares of the Den Pandan project in Kuala Lumpur for Msl4 million via the issue of 20 million new Granite shares priced at 70 sen each. The vendor, Pandan Mqju Sdn Bhd, will end up withNST - 348 words
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292 1990-07-21 3 Bernama MALAYSIAN police are looking into the revision of the issue price of Sungei Besi Mines Malaysia Bhd shares for its proposed purchase of a 26.7 per cent interest in Tradewinds (M) Bhd after receiving a report lodged by the Registrar of Companies. ABernama - 292 words
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COMPANY BRIEFS
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62 1990-07-21 3 MR CHUA KIM YEOW has been appointed a director of Asia Pacific Breweries Ltd (formerly Malayan Breweries) from July 19. APB said Mr Chua, a director of Singapore Press Holdings Ltd and other companies, is wdl known in business circles and brings62 words
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Article38 1990-07-21 3 DIRECTORS of Malaysian Mosaics Bhd announced that a final dividend of 2.5 sen per share less tax for the year ended Jan 31, 1990 has been declared and will be paid on Aug 28.,38 words
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Article133 1990-07-21 3 THE VENDORS of Lotteries Corporation (Sabah) Sdn Bhd have asked Mycom Bhd to appeal to the Finance Minister against the Capital Issues Committee revision of the terms for the acquisition of Lotteries Corp. The CIC in approving the r transaction had sharply reduced the purchase133 words
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Article166 1990-07-21 3 BANK OF COMMERCE has projected that its consolidated pie-tax profit after its proposed one-for-two rights issue' would be M 522.72 million and M 527.76 million for the T financial years ending Aug 31, 1990 and 1991 respectively. In a circular to shareholders, it added that the166 words
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Article117 1990-07-21 3 FIMA Metal Box Bhd (FMBB) is poised to consolidate and build on its investments in equipment, systems and people after an important period of transition from three-piece to two-piece beverage cans, its acting chairman said Datuk Mohammad Noor Ismail said in the company's 1989/90 annual report117 words
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Page 3 Advertisements
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Advertisement14 1990-07-21 3 Tha Straits TtoiM* WEEKLY OVERSEAS _B*npw Subscribe now. Call 740-1840/1. Al— mirtili TknM ThaJßoofcahop14 words
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Advertisement147 1990-07-21 3 ARE YOU FEELING THE STRAIN? HILL SAMUEL PRIVATE BANKERS Are you thinking of buying a property in UK. Canada, US, Please call our hot-line on 534 2702 or complete the coupon and Australia, New Zealand, Singapore or Malaysia and would like a send or fa* it to us. flexible loan147 words
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Page 3 Miscellaneous
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INTERNATIONAL COMPANY NEWS
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COMPANY BRIEFS
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120 1990-07-21 4 THE number of new companies registered in the first six months of the year dropped 36 per cent to 12,513 from 19,300 in same period last year, Hongkong government figures show. But the number of new overseas firms increased 42 per cent to 185 compared120 words
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Article85 1990-07-21 4 INDEPENDENT directors of Elders Resources NZFP Ltd (ERNZFP) are in favour of the proposed merger of ERNZFP with fellow forester Carter Holt Harvey Ltd (CHH). "On the basis of the information available to it, the committee (of independent directors) has endorsed the proposed merger as being in85 words
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Article63 1990-07-21 4 RANK Organisation pic said the US Department of Justice wquld challenge Rank's acquisition of Deluxe Motion Picture Film Processing Laboratories on the grounds that it would substantially lessen competition. Rank said it intended to refute the challenge and would vigorously pursue completion of the acquisition. In63 words
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Article114 1990-07-21 4 CORNING Inc said on Thursday it would sell most of its 33.4 per cent interest in Iwaki Glass Co of Japan to Asahi Glass Co for an after-tax gain of US$lB million. Asahi is Coming's partner in Iwaki Glass, a Tokyo-based manufacturer of industrial, consumer114 words
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Article74 1990-07-21 4 lEP Securities Ltd, a subsidiary of Brierley Investments Ltd, said it had raised its stake in the UK supermarket chain Budgens pic to 14.1 per cent, from 9.4 per cent. lEP said it bought the 4.12 million Budgen shares from the Merchant Navy Officers Pension74 words
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Article50 1990-07-21 4 AMERICAN Express Co said it had no near-term plans to sell its Shearson Lehman Hutton Inc brokerage unit, but that it would reassess the business after the current restructuring had been completed. "It's got to be repositioned and realigned," acting chief financial officer Michael Monaco said.50 words
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Article, Illustration457 1990-07-21 4 Reuter, AP, AFP AUSTRALIAN tycoon Alan Bond said on Thursday he was ready to quit to save his struggling brewing, media and property empire. He told disgruntled investors he would resign as chairman of Bond Corp Holdings Ltd if theyReuter,; AP,; AFP - 457 words
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198 1990-07-21 4 AFP TOYOTA Motor Corp is to invest 270 billion yen (US$l.B billion) to build a new vehicle assembly plant and two auto parts manufacturing facilities in Japan. Toyota officials said the company's first domestic plants to be located outside Toyota City, central Japan, willAFP - 198 words
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308 1990-07-21 4 AP TOYOTA Motor Corp has asked its suppliers to streamline the parts they sell Toyota to improve the fuel efficiency of its automobiles, a company official has said. The move was taken partly in response to pressure by a bill presented to the USAP - 308 words
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367 1990-07-21 4 Florence Chong - Frsm Florence Chong Hi SYDNEY INDONESIAN group PT Aempe Pluit Bataco Raya is reported to have bought the Observation City Hotel in Perth from Bond Corporation for As 77 million. The Indonesian company, said to be controlled by Mr Joseph Tulong, has scored367 words
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128 1990-07-21 4 AFP ANGLO-FRENCH packaging giant CMB Packaging has bought packaging companies in West Germany and Italy whose sales last year totalled 420 million francs (U5576.3 million). The acquisition of Raku of West Germany and Speedprint of Italy are CMB's 15th and 16th since it wasAFP - 128 words
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217 1990-07-21 4 Reuter ASTRA International Ltd, the holding company of Indonesia's second largest business group, will receive a loan worth US$5O million from a Japanese consortium, the company said on Thursday. Astra spokesman Aminuddin said his company initially asked for US$3O million but wasReuter - 217 words
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194 1990-07-21 4 Reuter TELETECH International Holdings Ltd said it has taken legal action against the general offer made by Swilynn International Holdings Ltd for breaching of oral warranties. Teletech said in a statement in Hongkong that Swilynn had breached an undertaking made on February 8 that itReuter - 194 words
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349 1990-07-21 4 Reuter BRITISH defence electronics group Ferranti, hit by a financial scandal at one of its United States subsidiaries, said on Thursday it went into the red by more than £160 million (US$29O million) last year. Cheshire-based Ferranti International pic reported aReuter - 349 words
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Page 4 Advertisements
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Advertisement240 1990-07-21 4 BT ACRONYM ICONT E S T mm i i- ->. JBL JM® b I IW< -*t ->t One of the 5 lucky winners, Mr Wong See Meng, General Manager of Great Pacific Finance Ltd, receiving his $400 Rossetti voucher from Fratelli Rossetti Boutique Manager, Ms Sandra See Toh. Looking on240 words
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FINANCIAL NEWS
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Article, Illustration322 1990-07-21 5 Quak Hiang Whai - By Quak Hiang Whai SIX independent insurance brokers based in the Far East have formed an alliance to expand the scope of their international insurance business. The group, Global Insurance Alliance (GIA), comprises members from Indonesia, Malaysia, Philippines, Singapore, Taiwan and Thailand. Its322 words
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397 1990-07-21 5 AFP THE EUROPEAN Commission on Wednesday agreed to proposals aimed at creating a "single passport" enabling companies to offer non-life insurance policies anywhere in the European Community's single market. The plan, modelled on a scheme to scrap national borders in banking, marks theAFP - 397 words
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328 1990-07-21 5 Bernama MALAYAN Banking Bhd, Malaysia's biggest bank, is taking several measures, including investing in technology, to sharpen its competitiveness in anticipation of further governmental deregulation of the banking industry. Maybank general manager for retail banking Mohd Salleh Bajuri said on Thursday the bankBernama - 328 words
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430 1990-07-21 5 Reuter NATIONAL Westminster Bank pic stands alone among the top four UK banks in having to combat major nonThird World bad debts abroad as well as at home, a factor likely to show in its 1990 half-year provisions. While high UK interest ratesReuter - 430 words
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318 1990-07-21 5 Reuter SWISS Bank Corp said its business boomed in the second quarter of 1990, boosting results significantly. "In all, cash flow in the first half of the year significantly surpassed that of a year ago," it said in aReuter - 318 words
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SMALL CHANGE
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106 1990-07-21 5 TAIWAN'S Bureau of Investigation (BOI) has cracked down on 77 illegal futures companies in three months as the government stepped up efforts to curb illicit economic activities, 801 officials said on Thursday. The 801 on Wednesday raided 17 firms operating futures tradings and one illegal106 words
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Article84 1990-07-21 5 SECURITIES and Exchange Commission Chairman Richard Breeden said imposing a tax on buying and selling stocks could cause substantial damage to US capital markets. M I think we have to be very careful not to take steps to drive capital offshore," Mr Breeden told the84 words
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Article66 1990-07-21 5 WEST GERMAN bank Bayerische Vereinsbank AG (Bayenlverein) has increased its stake in Vereins-und Westbank to a majority from 25.4 per cent, Vereins und-West bank said in a statement. It said the increase had been acquired in cooperation with Vereins-und West bank's management board and some66 words
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Article67 1990-07-21 5 BAYERISCHE Landesbank Girozentrale said it had taken an unspecified stake in the private Zurich bank Bankinstitut Zurich AG and aimed to take a majority this year. It said its stake in the private bank still needed approval by the Swiss Banking Commission. The Janson family which67 words
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Article73 1990-07-21 5 WEST GERMANVs leading private bank Deutsche Bank said it planned to take 100 per cent control of its East German subsidiary by the end of the month through a capital increase. The West German bank currently holds a 49 per cent stake in Deutsche Bank-Kreditbank, created73 words
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Page 5 Advertisements
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Advertisement226 1990-07-21 5 SEND A COUNTRY REPORT Mow and then, you send perform|Bj ance to your head office or country report. But don't bother doing it yourself. Because there's The Straits pm, close to tear«, teDs nation: People-they're Times Weekly Overseas Edition. The KJWoanc miiet the secret major news crisply condensed for a226 words
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Advertisement55 1990-07-21 5 fine CARPETS for the Discerning Buyer liMßßi' mi RARE OLD A NEW OLD TRIBAL AUTHENTIC PERSIANS AFGHANS 'friii'i i r NEW PAKISTAN TIENTSIN WOOLLEN/ PERSIAN SHANGHAI SILK BOKHARA DESIGNS PERSIAN DESIGNS AMZRGSONSSS (SINCE 1921) *03-01 Lucky Plaza, 304 Orchard Road, Singapore 0923. Tel: *****83 *****12. Fax: *****35. WEEKDAYS: 10am 7pm55 words
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Page 5 Miscellaneous
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THE REGION
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NOTE BOOK
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55 1990-07-21 6 MALAYSIA will be the second largest producer of methyl tertiary butyl ether (MTBE) a lead-free octane booster in petrol once the MTBE/propylene plant in Kuantan starts commercial production in August 1992. The plant will have the capacity to produce 300,000 tonnes of MTBE55 words
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Article56 1990-07-21 6 FUTURE Japanese investment in Thailand is expected to be concentrated on major projects helping strengthen the industrial sector, according to the Bangkok Post. Thai economic counsellor to Japan, Somphong Wanapha, said there was still strong investment interest in Thailand even after the number of new projects had56 words
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Article71 1990-07-21 6 THE NEW US bill to limit textile imports is unlikely to be approved by President George Bush, according to Thai Garment Manufacturer's Association president Viroy Amatakulchai. "I believe the bill's passage is impossible for several reasons," he said on Wednesday. He was speaking after the US71 words
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Article57 1990-07-21 6 PHILIPPINE garment and textile exports rose 22 per cent in the first half of 1990 from the same period last year, the industry-monitoring agency said in Manila yesterday. The Garments and Textile Exporting Board (GTEB) said exports hit US$939 million from January to June compared with US$76B57 words
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Article37 1990-07-21 6 BRITAIN'S Foreign Minister, Francis Maude, is to visit China next week in an effort to ease bilateral ties strained by differences over this British colony, which reverts to Chinese sovereignty in 1997.37 words
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Article39 1990-07-21 6 NEW ZEALAND'S stated target of reaching zero to 2 per cent annual inflation by December 1992 should be adjusted to take account of world inflation and interest rates, New Zealand Bankers' Association chairman George Stoopin said.39 words
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Article36 1990-07-21 6 INDIA'S Foreign Minister, Muchkund Dubey, left Islamabad yesterday after failing to reach agreement with Pakistani officials on disputed Kashmir, where Muslim militants are spearheading a violent campaign for secession from New Delhi.36 words
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Article38 1990-07-21 6 A MALAYSIAN court fined 21 crew members of a Hongkong trawler a total of U*****,000 for illegal fishing but freed 24 other Hongkong fishermen facing similar charges due to lack of evidence, lawyers said.38 words
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423 1990-07-21 6 AP WHILE hordes of people frantically seek foreign passports before China takes over in Hongkong, Japanese businessman Kazuo Wada proudly announces that his latest acquisition is an identification card issued to local residents. Mr Wada received the green, wallet-sized card last spring when heAP - 423 words
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Article, Illustration38 1990-07-21 6 Three boys from a mountain Tillage near Baguio City try to salvage some of their personal belongings from their house which collapsed and sank during the earthquake which struck the northern Philippines.38 words
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146 1990-07-21 6 AFP A UNIFIED Germany will honour East Germany's pledges to Vietnam and seek to expand bilateral trade cooperation, MPs of an unprecedented joint German parliamentarian delegation said in Hanoi on Thursday. The MPs also tried to assuage fears that East Germany would expelAFP - 146 words
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199 1990-07-21 6 Reuter THE Australian government's ability and commitment to salvage an economy already in recession will be tested when it presents its 1990/91 budget next month, economists and business leaders say. After seven years in power, the Labor government is losing support for its economicReuter - 199 words
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315 1990-07-21 6 ECONOMIC exchanges between South Korea and China suspended after the Tiananmen Square crackdown on pro-democracy demonstrators in June 1989 have been resumed in a big way. According to the Japan Economic Journal, in the first half of this year alone, gov-ernment-approved investments315 words
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342 1990-07-21 6 AP SPURRED by increased consumer spending and construction, South Korea's economy grew by an estimated 9.8 per cent in the first half of this year, the Bank of Korea reported yesterday. That compares with a 6.8 per cent growth rate inAP - 342 words
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322 1990-07-21 6 AFP SOUTH KOREAN President Roh Tae-Woo said in a shock early-morning announcement yesterday that he would open part of the border with the communist north for five days next month to allow unrestricted travel. Mr Roh said in a nationallyAFP - 322 words
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228 1990-07-21 6 Reuter NEW ZEALAND'S Finance Minister David Caygill's annual budget on July 24 is likely to earmark at least half of an expected NZ$6 billion budget surplus for domestic debt repayment, economic analysts polled said. But views are mixed on whether this willReuter - 228 words
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Page 6 Advertisements
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Advertisement103 1990-07-21 6 —1 FOR WHO, WHAT, WHERE AHD WHEH IN THE MARKET. ADVERTISING MARKETING, in BUSINESS TIMES every Thursday, covers a vital sector of the economy comprising the country's communications muscle. The page monitors business developments and the players in both international and Singaporean advertising agencies; it charts and reports on trends103 words
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THE WORLD
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414 1990-07-21 7 AFP JAPANESE INVESTORS, motivated by the prospect of German reunification, have sunk massive amounts of money in West Germany in recent months, focusing on top quality enterprises and blue-chip stocks. And their bids usually win, since in most cases they average double thatAFP - 414 words
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Article, Illustration40 1990-07-21 7 SEVERAL THOUSAND policemen demonstrated outside the East Berlin Parliament on Thursday to call for a wage increase to match the increased costs of living following the German economic and monetary union on July I.40 words
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511 1990-07-21 7 Reuter THE US is quietly preparing the way to provide financial help to the crippled Soviet economy, US officials say. The help, which could come later this year or early next year, would probably take the form of creditReuter - 511 words
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Article, Illustration490 1990-07-21 7 Reuter FRENCH BUSINESSMEN yesterday told their Prime Minister that the Japanese market is more open than it used to be but more must be done on both sides to reduce France's huge trade deficit with Japan. Representatives from 30 companies met Michel Rocard onReuter - 490 words
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Article144 1990-07-21 7 AP THE US GOVERNMENTS Export-Import Bank said in Washington on Thursday that it was lending China US$l4.3 million to buy equipment for an airport and a plastics plant in Shanghai. Chinese borrowers will pay interest at an internationally agreed rate of 8.3 per cent aAP - 144 words
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WORLD WATCH
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88 1990-07-21 7 SURGING EXPORTS and weak imports boosted South Africa's trade surplus in June to 1.54 billion rands (U*****.9 million), according to Pretoria's Customs and Excise Department. Despite a weak gold price in June, the monthly surplus showed a 43 per cent increase on88 words
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Article85 1990-07-21 7 EUROPEAN COMMUNITY import curbs mean motorists are paying an extra 20 per cent for Japanese cars, a British report said in London yesterday. The restrictions by EC member states are costing car buyers about £1.9 billion a year, according to the National Consumer Council, an85 words
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Article92 1990-07-21 7 SOVIET INDUSTRY, plagued by soaring labour unrest and falling energy output, produced less in the first half of 1990 than last year, the daily Soviet newspaper Izvestia said on Thursday. Industrial output from January to June was 0.7 per cent down on the same period of 1989,92 words
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Article99 1990-07-21 7 IN A VEILED RETORT to criticism of the Common Market by ex-trade secretary Nicholas Ridley, EC Commissioner Sir Leon Brittan said the rest of Europe is growing bored with Britain's nationalist stance. "For some people in this country, the European debate never seems to move on,'99 words
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Article67 1990-07-21 7 REPRESENTATIVES from the European Community urged Central Americans to increase their exports across the Atlantic as a way to drag the trouble-torn region out of conflict and poverty. "Europe is disposed to cooperate but the Central Americans must widen their exports," Angel Vinas, head of67 words
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Article78 1990-07-21 7 ABOUT SO COMPANIES located in Panama, including Samsung Electronics Co Ltd's Samsung Electronics Panama SA unit, have sued the US for more than US$3O million worth of damages received due to the US invasion of Panama on Dec 20 last year. The US invaded Panama78 words
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389 1990-07-21 7 AP CHINESE LEADERS have been told that Japan will begin disbursing a five-year loan package frozen after last year's bloody crackdown in September, the Japanese Embassy said in Beijing on Thursday. The message was conveyed by former Foreign Minister Hiroshi Mitsuzuka, whoAP - 389 words
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Page 7 Advertisements
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Advertisement243 1990-07-21 7 IN THE MATTER OF THE COMPANIES ACT. CAP 50 AND IN THE MATTER OF KOA KOSAN ENGINEERING A CONSTRUCTION PTE LTD (IN MEMBERS VOLUNTARY WINDING-UP) At an Extraordinary General Meeting OI the Members ol KOA KOSAN ENGINEERING 4 CONSTRUCTION PTE LTD duly convened and held at 1 Magazine Road *02-32.243 words
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Advertisement218 1990-07-21 7 LOST CERTIFICATES The following certificates have been reported lost, mislaid or destroyed Mo. of TSR/ Nam* of Company Certificate Nos. In the Name of No. of Stock/ No. of Shares BukJt Sembawang Estates Z*****02 Tay Eng Tong t x 333 Limited Z*****97 Koon Kim Chuan 1 666 Jacks International Ltd218 words
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STOCK EXCHANGE OF SINGAPORE 1
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Article, Illustration4502 1990-07-21 8 Magdalene Ng - By Magdalene Ng TALK OF A STOCK scandal brewing in Tokyo drove share prices on the Singapore stock market sharply lower in the afternoon yesterday, but baigainhunting later helped regain the losses. The Straits Times Industrials Index dipped to an intra-day low of4,502 words
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Article3761 1990-07-21 9 Main Board DBS Foreign 1440 +40 +2.9* S Land Wrts 765 +25 +3.4* FELS 50* 750 20 2.7* Lee Kim Tah 50* 152 +15 +10.9* SIA 1410 +10 +0.7* DBS 1260 +10 +0.8* UOB Foreign 730 +10 +1.4* Inchcape 540 +10 +1.9* Grand Central 2463,761 words
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KUALA LUMPUR STOCK EXCHANGE
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Article, Illustration3809 1990-07-21 10 MBT LACK of buying interest saw share prices drift to lower levels on the Kuala Lumpur stock market yesterday. Losses were, however, mostly marginal. Share prices opened on a mixed to firmer note but did not make much headway in the absence ofMBT - 3,809 words
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Page 10 Advertisements
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Advertisement151 1990-07-21 10 Ex ecutive Style STYLE The executives want it. It makes a statement. It sets them apart from the mainstream. It gives them that added edge in a world where impressions, like it or not, do last. You, as the purveyors of style, should know what we mean and we invite151 words
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TOKYO STOCK EXCHANGE
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Article, Illustration2300 1990-07-21 11 Reuter TOKYO stocks closed sharply lower yesterday as several factors futures-related arbitrage selling, talk of a brewing stock scandal and general weakness ahead of the weekend took hold. Failure of a low June money supply figure to rally bond prices added to overall bearishness,Reuter - 2,300 words
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STOCK EXCHANGE OF HONGKONG
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Article, Illustration2452 1990-07-21 11 Reuter STRONG overseas buying that took over from a morning correction pushed Hongkong's blue chip index to a firmer close yesterday, brokers said. "People were expecting a short-term correction, but then the overseas buying interest was very strong," a Barings Securities broker said.Reuter - 2,452 words
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Page 11 Advertisements
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Advertisement11 1990-07-21 11 Closing prices for Hongkong and Tokyo markets ara provided by Tolerate.11 words
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REGIONAL STOCK MARKETS
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Bangkok market hits another high
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Article1023 1990-07-21 12 THE Australian sharemarket finished weaker in light volume yesterday. Little direction had been provided by mixed news elsewhere, brokers said. The All Ordinaries Index ended 5.5 points weaker at 1,602.7, off the low at 1,600.6. Market leader BHP saw active trade with turnover of 1.82 million shares. Its price1,023 words
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Article552 1990-07-21 12 PRICES on the regular market of the Jakarta Stock Exchange closed mixed yesterday, with the Composite Index edging up 0.62 points to 630.09. Turn- over fell to 2.01 million shares from Thursday's 2.71 million. Bank Umum Nasional dominated trading with 251,000 shares changing hands. It ended 50 rupiah higher552 words
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Article712 1990-07-21 12 BANGKOK stocks yesterday extended gains to close at record highs for the third straight day with popular banks and finance firms leading the rally. The Composite SET Index rose 23.76 points to 1,131.44 in heavy trade. Many banks finished at 10 per cent limit highs. Siam Cement was unchanged712 words
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Article511 1990-07-21 12 BARGAIN hunters who kept to the sidelines most of the week yesterday reentered the Manila stock markets, pushing prices slightly higher after two days of decline in reaction to the earthquake which rocked the Philippines. The Manila Stock Exchange Composite Index rose 2.68 points to close at 883.16. The511 words
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Article377 1990-07-21 12 NEW ZEALAND shares ended lower yesterday, but some brokers see sentiment after the July 24 budget being mildly bullish. The Barclays Index closed 8.02 points down at 1,889.56. Murray Doyle of Doyle Paterson Brown said the market is holding to its firm base. "Sentiment will be positive after377 words
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Article374 1990-07-21 12 TAIWAN share prices closed higher yesterday as investors shrugged off political and economic worries and returned to the market again. The Weighted Index rose 181.34 points, or 3.6 per cent, to finish at 5,194.39 compared with Thursday's 5,013.05 dose. Turnover rose to NTJ7B.S billion from NTJSO.3 billion. Dealers said374 words
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Article148 1990-07-21 12 BOMBAY share prices rose sharply on Thursday on heavy investment and speculative buying, lifting the Bombay Stock Exchange Index to a second consecutive new peak. The index soared 14.78 points, or 1.59 per cent, to 941.70. The National Index rose 6.19, or 1.28 per cent, to 489.01. The previous148 words
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Article1119 1990-07-21 12 CIom Prrrio— Jwty 20 SYDNEY All Ordinaries Index 1602.7 1,608.2 -3.3 AU Industrials Index 2491.3 2,497.2 .3.7 All Resources Index 923.8 92S.7 -4.9 Turnover (million) 84.39 86.82 -123 BANGKOK SET Index 1,131.4 1107.68 -I-23.76 Turnover (nearest *000) NA NA JAKARTA Composite Index 630.09 629.47 +0.62 Turnover (nearest *000) 2,010 2,7101,119 words
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Page 12 Advertisements
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Advertisement11 1990-07-21 12 Closing prices for mil markets except Taipei are proridtd by Teierate.11 words
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Late rally puts Dow in plus territory
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Article, Illustration1045 1990-07-21 13 A LATE RALLY in oil stocks and bargain hunting in some technology issues helped US blue chips recover most of their losses in late trading on Thursday. "The oil stocks have led the afternoon rally," said George Pirrone of Dreyfus Corp. In addition, he said, some of the1,045 words
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Article, Illustration864 1990-07-21 13 LONDON equity prices were just below the day's highs in dull midsession trading yesterday, pulled along mainly by futures. An absence of major corporate news and UK economic statistics is expected to keep trading thin, dealers said. "The market's winding down on the last day of a two-week account,"864 words
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Article356 1990-07-21 13 JOHANNESBURG gold shares were slightly easier in a listless market at midday yesterday as further gains in the financial rand and a lacklustre bullion price continued to keep a lid on prices, dealers said. The recent spate of poor gold mine quarterly results put an added damper on activity356 words
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Article193 1990-07-21 13 TORONTO stocks dropped slightly on Thursday on one of the slowest days of the year, dealers said. "You just can't get excited given a stock market that's yielding about six per cent and a T-bill market that's yielding about 14 per cent," said analyst Ben Joyce of Burns Fry.193 words
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Article321 1990-07-21 13 MAJOR West German shares fell yesterday as profit-taking continued following strong gains earlier in the week, dealers said. But retailer Masn bucked the generally weaker trend, benefiting from news of the sale of its 10 per cent stake in fellow retailer Asko to the British conglomerate Lonrho. The DAX321 words
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Article189 1990-07-21 13 ITALIAN stocks closed slightly higher yesterday after a robust start with selective buying focused on the Ferruzzi group and the banking sector, brokers said. The MIB index edged up one point, or 0.09 per cent, to close at 1,089 on the day and gained 1.97 per cent on the189 words
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Article289 1990-07-21 13 SWISS shares were traded slightly firmer at midsession yesterday on volume that picked up late in the session after a slow start, dealers said. The SMI index of leading shares rose 4.7 points to 1,834.5 and the allshare SPI Index rose 1.5 to 1,216.7. Dealers said hopes of a289 words
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Article210 1990-07-21 13 FRENCH share prices opened fractionally firmer yesterday, buoyed by better than anticipated trade figures for June, dealers said. The CAC-40 index started at 2025.13 after closing the previous night at 2023.31. However, it quickly lost its earlier advance, to be quoted 1.18 points lower at 2,021.73 by 0835 GMT.210 words
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Article241 1990-07-21 13 DUTCH shares ended a deadly quiet session on Thursday barely changed after a lower start on Wall Street and a general summer lull weighed on prices, share dealers said. The guilder's weakness in the European Monetary System and a lack of fresh domestic economic news atao dolled sentiment, the241 words
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Article194 1990-07-21 13 BELGIAN shares rose at the opening yesterday with volume at a high 444 million francs in the first half hour of trading. Travel and tourism stock Wagons-Lits continued to pace the market, rising four per cent at the start after its 13 per cent gain on Thursday. It surged194 words
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Article184 1990-07-21 13 July 19 CIm Pinlsi NEW TOOK Dow Jones 2,993.11 2,9*1.61+12.13 NYSE Financial 144.69 143.3* -0 69 SAP 500 363.32 364.22 -H-10 Turnover (million) ***** 161.76 -6.77 LONDON Financial Times 30 l.ttt.7 1,900.6 -11.9 FTSE 100 2,3*7.3 2,402.6 -14.7 Turnover (million) 412.0 39S.2 -113.2 AMSTERDAM CBS General 201.3 201.3 -0.2 I184 words
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CURRENCY, MONEY & FUTURES MARKETS
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1184 1990-07-21 14 FOREX MARKET REPORTS THE US dollar yesterday closed firmer against the yen in Tokyo, but weaker against sterling, the mark and the Swiss franc after a dull session. Active mark buying for yen and US dollars emerged on pre-weekend posi-tion-squaring, while1,184 words
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Article384 1990-07-21 14 Cress rates USS SS MS Dm Yen SFr AS NZS USS 1.8155 2.7055 1.6390 148.15 0.5491 1.4030 1.2747 1.6818 SS 0.5508 1.4902 0.9028 0.8160 0.3025 0.7728 0.7021 ***** MS 0.3696 67.10 0.6058 0.5476 0.2030 0.5186 0.4712 0.6216 Dm 0.6101 1.1077 1.6507 90.39 0.3351 0.8560 0.7777 1.0261 Yen384 words
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Article555 1990-07-21 14 Interbank rates BU Offer Overnight 5 5 1/4 1-month 7 1/8 7 1/4 2-month 7 3/16 7 5/16 3-month 7 3/16 7 5/16 Overnight mode. 7 U9I BU Offer 7 days 8 8 1/8 1 month 8 8 1/8 2 months 8 8 1/8 3 months 8 1/16555 words
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Article288 1990-07-21 14 Reuter AFTER the Federal Reserve's sudden easing move last week, economists say they oould see the next loosening in monetary policy coming in September, although market rates may head higher in the near term. Economists on Thursday evening were still digesting Fed chairman AlanReuter - 288 words
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Article1502 1990-07-21 14 SIMP EUB0OOLLAI Open High Lm Sett Est Vol Opflat Vd Sep 90 91.95 9L95 91.94 91.9S 1465 ***** 3412 Dec 90 91.93 91.96 91.94 91.96 2590 ***** 4688 Mar 91 91.93 91.94 91.93 91.94 650 3327 SSI Jun 91 91.73 91.76 91.75 91.76 22 762 190 Sep 911,502 words
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COMMODITIES
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467 1990-07-21 15 Reuter TEA, Sri Lanka's main foreign exchange earner until it was replaced by textiles and garments in 1986, is making a strong bid to regain the top position this year, brokers and analysts said. A boom crop, record prices and violence-free plantationsReuter - 467 words
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321 1990-07-21 15 Reuter THE American Petroleum Institute (API), releasing mid-year figures showing record US dependence on oil imports, said the Figures showed "potentially ominous" trends in declining domestic production that must be replaced with oil from overseas. "The question is: how accommodating areReuter - 321 words
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825 1990-07-21 15 REPORTS THE PRICE of tin rose another 10 sen to M 516.10 per kg on the Kuala Lumpur Tin Market (KLTM) yesterday on strong demand and firm overseas advice. Short-covering by merchant buyers supported the market and sentiment was also lifted825 words
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Article1308 1990-07-21 15 wupoer July 20 S centi/kg Noon Clwe Int I RSS Prompt 154.50*155.50N I54.2V1S5.25N Int I RSS Aug 90 155.50*156.00 I5S.2VI55.75N IM I RSS Sep 155.75/156.25 155.50/156.00N Int 2 RSS OP I53.0C*155.00N l53.00m5.00N Int 3 RSS OP 148.50* 150. SON I48.5(V150 50N Int 4 RSS OP 144.50*146.50N 144.50* 146. SON1,308 words
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Page 15 Advertisements
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Advertisement15 1990-07-21 15 Read Chartpoint, a guide (o investing in the stoek market. Every Saturday in Business Times.15 words
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Advertisement86 1990-07-21 15 *T Read Chartpoint, a guide to investing in the stock market. Every Saturday in Business Times $4 A MONTHLY MAGAZINE OF BUSINESS TRENDS Defence group restructures its sprawling smpirs How should Singapors uaa Its rsssrvss? A tax havan on Singapora'a doorstop a Scouting now territories for markata a The Singapore86 words
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Article, Illustration392 1990-07-21 16 Claire Leow - _fi! Claire Leow SINGAPORE PRECISION Industry has become the first major local company to join the ranks of foreign multinational companies taking part in a technology transfer programme. A subsidiary of Singapore Technologies, its participation in the Local Industry Upgrading Programme (LIUP) reflects the392 words
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470 1990-07-21 16 PM Lee's interview with the BBC PRIME MINISTER Lee Kuan Yew said in an interview with the British Broadcasting Corporation (BBC) yesterday that he was puzzled by the US policy shift on the UN seat held by the Cambodian resistance. To prevent the Khmer470 words
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321 1990-07-21 16 Bernama THE US withdrawal of support for United Nations recognition of the coalition government of Democratic Kampuchea (CGDK) to weaken the Khmer Rouge might just produce the opposite effect, according to Malaysia's special envoy to the United Nations, Datuk Musa Hitam. "Left onBernama - 321 words
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407 1990-07-21 16 The Philippine earthquake AFP THE MAJOR earthquake which devastated the Philippines and caused hundreds of million dollars worth of damage is expected to shake the economy in the short term, officials and businessmen in Manilas said. The quake, which measured 7.0AFP - 407 words
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325 1990-07-21 16 Hong Lee Tiam - JfiL Hong Lee Tiam CONFLICTING opinions on the Philippine government's handling of the earthquake rescue operation have emerged, with some saying that the government was caught "flat-footed" and lacked the capability to handle the crisis, and others saying that the emergency aid was325 words
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Article135 1990-07-21 16 AP US FEDERAL telephone regulators are telling foreign phone companies that overseas calls into the US are about twice as expensive as they should be. And if foreign companies don't shape up, the US Federal Communications Commission says it will take action to lower prices.AP - 135 words
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Page 16 Advertisements
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Advertisement377 1990-07-21 16 SAcchiQ >t nitim I atln r Ollt i iioii CHINESE CULINARY MASTERPIECES ~Z OF THE CENTURY A banquet of magnificence and magnitude. MENU Exquisitely prepared by top masterchefs Exquisite Dion Xin in Four Varieties 1 Beijing Roast Duck with Goose Liver Pat/ I Tropical Delight A Lobster Surprise v Visiting377 words
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Advertisement13 1990-07-21 16 SACChi,) (it nmm (iilu i nIU i imu Sariag what's left, P| 613 words
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Executive Lifestyle
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Article, Illustration1261 1990-07-21 17 Samuel Ee - Haw Par Villa is about to be awakened, its face mask peeled off to reveal a new sophisticated beauty that will push Singapore into the front-line as a major entertainment centre. Now is that a myth or a genuine possibility? Samuel Ee brings you a progress1,261 words
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STRAWS IN THE WIND
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Article61 1990-07-21 17 AN article in BTs Shipping Times the other day reported that a woman was suing two airlines because her dog died while travelling in the cargo hold during a hot summer day. An unsympathetic staffer was probably hungry and/or not an animal lover when he remarked rather wryly:61 words
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Article56 1990-07-21 17 TALK about right intentions, wrong person. BTs Editor was amused when he received a farewell letter from a bank manager thanking him for liis friendship and valued business relationship, and also for the many rounds of golf they shared. M I don't even play golf!" he said. Well, can't56 words
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Article117 1990-07-21 17 THE proud new owner of a kumquat plant was quite annoyed when a locust came along one day and ate up all the leaves. In a fit of rage, he decided to make the locust pay by subjecting it to a cruel death. But revenge has its price.117 words
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OPINIONS
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Article, Illustration1136 1990-07-21 18 Neville Stack - A British minister quit after his anti-German barbs caused a hoo-ha. Neville Stack looks below the surface Neville Stack Neville Stack is a writer, consultant and political commentator in England. WHEN THE courtiers of a certain mythical emperor were invited to admire his1,136 words
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Article, Illustration1108 1990-07-21 18 Julie Chatterjee - Julie Chatterjee asks whether pleasure needs to be sp crassly incorporated into the lead-up to clinching a business deal in East Asia Julie Chatterjee Julie Chatterjee is the editor of Connoisseur's Asia, a Singapore-based arts magazine on the region. SO, you are1,108 words
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302 1990-07-21 18 A Local Shareholder - LETTERS TO THE EDITOR A Local Shareholder I VIEW with apprehension as publicly-listed companies go for separate listing of their shares held by foreigners. This move has so far proven detrimental to the local shareholders because the local share prices have been dampened. As302 words
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Article174 1990-07-21 18 The Straits Trading Company Ltd Secretary - The Straits Trading Company Ltd Secretary I REFER to your report, 4 No discord with Straits Trading, says French Embassy* (BT, July 12) and to the Embassy> statement that "it has no disagreement with The Straits Trading Company", and that "It (the embassy) is only claiming protection174 words
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Article169 1990-07-21 18 Y W Low - Y W Low YOUR REPORT, 4 Duta Consolidated aborts plans to acquire safeguards' (BT, July 14), mentions that little progress has been made in implementing an overall restructuring scheme. Apart from this latest development at Duta (still under suspension), very little else is known. Therefore,169 words
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Article344 1990-07-21 18 Mrs Jannie Tay - Mrs Jannie Tay Organising Committee of the Debutante Ball REGARDING Business Times's report on the Debutante Ball (June 30) we wish to point out the following: 1. The ball on Jan 4 1991 will indeed be the first one held in Singapore. 2. We344 words
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247 1990-07-21 18 K T Tan - K T Tan I HAVE a tax poser, and would appreciate advice on how to solve it. We have a private limited company which the shareholders would like to place under voluntary liquidation. In order to be tax effective, it has been suggested that247 words
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LIFESTYLE 1
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Article, Illustration675 1990-07-21 19 Cassandra How - Cassandra How meets the man behind Singapore's Jubilee Spectacular Cassandra How ARMY MAN Law Chwee Kiat's babi ponteh (stewed pork) would have been perfect if he had put some bamboo shoots or mushrooms in it. But his wife had kept the mushrooms somewhere675 words
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Article286 1990-07-21 19 Ringo Liew - CD Review By Ringo Liew LITTLE FEAT Representing the Mam bo If ever there was a band that always threatened to make it big but never did, then it must be Little Feat. Since its early days with the late Lowell George, the group has cleverly set to286 words
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Article, Illustration459 1990-07-21 19 Samuel Ee - Samuel Ee test-drives Robin Williams' latest offering Samuel Ee WHATEVER IT may look like, one thing's for sure: Robin Williams' latest vehicle wasn't styled by an Italian. And while QuliUae Mm sounds like something from General Motors, it's not. Worse, there's nothing much under the bonnet459 words
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Article, Illustration977 1990-07-21 21 Stuart Marshall - A car for heroes if they can afford it Stuart Marshall gets behind the wheel of Aston Martin's latest and greatest Stuart Marshall FT IN THE United Kingdom, a new Aston Martin Virage costs about £120,000, plus a two-year wait between placing an order and driving away in it (WhoFT - 977 words
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760 1990-07-21 21 N K Yong - WINE By N K Yong AN informal gathering of sommeliers recently turned out to be an impromptu tasting of some of the top Chablis available locally. Some of the best producers and growers of Chablis were represented Drouhin, Fevre, Jadot, Jaffelin, Laroche and760 words
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Article, Illustration663 1990-07-21 21 Sybil Holloway - BRIDGE By Sybil Holloway Preparations for the 32nd Far East Bridge Federation Championships, to be held in Singapore this year, are almost completed. The tournament, which will take place from Aug 3 to 12 in conjunction with the 1990 annual Pesta Sukan bridge festivities, will be663 words
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EPICURE
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Article, Illustration661 1990-07-21 20 Quek Swee Peng - Quek Swee Peng tries the twin offerings of Thai and Teochew cuisine at Zen Quek Swee Peng WILL Zen in Singapore rejuvenate Chinese eating the way the Zen restaurants have done so in England? The Zen philosophy of the London restaurant is simple: to offer the best food661 words
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PURSUITS
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Article, Illustration538 1990-07-21 22 Quek Swee Peng - With thoughts of Isabel Archer, the heroine in one of Henry James's classics, on her mind, Quek Swee Peng ponders the vivacity of Victorian paintings and wonders if they have a place in the Singaporean home. Quek Swee Peng IT SEEMS unthinkable bow anaemic beings with538 words
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Article, Illustration406 1990-07-21 22 A SIGN of the times is news that a selection of contemporary Russian art, albeit a modest offering, is on exhibition (and for sale) at a local art gallery. In the last few years, in tandem with the boom in the art market, Soviet art has attracted406 words
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Article1012 1990-07-21 22 A free market in thievery? The Economist IF ANYONE is really frightened of 1993, it is probably the custodians of "national heritages" all over Europe. These people fear that once Europe loses its internal frontiers, large numbers of works of art from their respective countries may suddenlyThe Economist - 1,012 words
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SPORTS
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Article, Illustration549 1990-07-21 23 AP ITS THE most commonly used four-letter word in town. It entertains people and pays their bills. It fills their thoughts on cold winter nights. Golf. Just glance at the phone book. There's the Golf Hotel, four Golf Taverns, two Golf Shops and GolfAP - 549 words
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316 1990-07-21 23 AP THE US BEER industry said that beer producers may drop sponsorship of major sport events if the US Congress requires new health warnings on any advertising for alcoholic beverages. The Beer Institute aimed to head off legislation that would require theAP - 316 words
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JOBS
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Article, Illustration932 1990-07-21 24 Schutz Lee - Coming to Singapore is a triple-first for Inchcape Bhd's new Cambridge-educated managing director Philip Cushing. He talks to Schutz Lee about leadership, team spirit and handling corporate shock Schutz Lee FOR Englishman Philip Cushing, coming to Singapore marks three firsts in his career history. He is Inchcape932 words
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Article, Illustration429 1990-07-21 24 Martin Soong - Martin Soong reports on a company offering outplacement services Martin Soong FOR MOST companies in Singapore, the labour crunch is a curse they could live without. But, if labour conditions ever swing to the other extreme, where companies are in the equally unenviable429 words
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Article348 1990-07-21 24 RICHARD YONG has been appointed as the chief executive officer of Intraco Ltd. Prior to this he was the general manager of General Lumber, Kuala Lumpur, where he served for 20 years. SIN WYE SUN is the vice-president, operations, of Royal Trust Merchant Bank Ltd. He was348 words
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PERSONAL FINANCE & INVESTMENT 1
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Article, Illustration829 1990-07-21 25 Amy Balan - Amy Balan explains how investors can use the weighted Business Times-Morgan Grenfell Asia index to get a better fix on the local stockmarket Amy Balan Buy or sell? Whether it be in New York, London, Tokyo, Hongkong or Singapore, investors are finding this stock question much829 words
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148 1990-07-21 25 WHATEVER the prognosis for stocks in the short run, over the long term, it pays to invest in stocks. Based on the Business Times-Morgan Grenfell Asia index, a $100 investment in local stocks made in January 1975 would be worth $796 at the end148 words
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200 1990-07-21 25 THE Business TimesMorgan Grenfell Asia index is a weighted aggregate index of SS Singapore stocks. The index was created to track the performance of stocks listed on the Stock Exchange of Singapore following the split with the Kuala Lumpur Stock Exchange at200 words
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DON'T QUOTE ME!
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Article97 1990-07-21 25 GOOD NEWS for investors in local shipyards. Fidelity, the huge Boston-based investor, is making forays into the shares of foreign shipbuilders. So far, its overseas mutual funds have bought into Japan's Sasebo Heavy Industries and West Germany's Bremer Vulkan only. But companies in Singapore and South Korea97 words
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Article195 1990-07-21 25 HERE is a side of Soviet President Mikhail Gorbachev that is hardly seen by the public. A few weekends ago, he turned up unexpectedly at the law school of the elite Moscow State University for a reunion (Class of 1955). As reported by the Spectator magazine,195 words
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Article398 1990-07-21 25 Reuter INDIAN stock markets staged a swift recovery after a political crisis that rocked Prime Minister Vishwanath Pratap Singh's minority government had subsided. The index of the Bombay Stock Exchange (BSE), India's largest, recovered 30.60 points to 916.93 on Tuesday after tumbling 33.91 points on MondayReuter - 398 words
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Article, Illustration1176 1990-07-21 25 Charles Chow - CHART^ By Charles Chow AS THE Kuala Lumpur Stock Exchange (KLSE) Composite Index reached record levels during the week, what is the target for Singapore's Straits Times Industrials Index (STII)? Our best guess at the moment is that the bull market, which1,176 words
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Article, Illustration990 1990-07-21 26 Dr E P Neufeld - A strong tonic for the Canadian The chief source of the Canadian dollar's strength has been the stability of its yield differential, says Dr E P Neufeld. Dr E P Neufeld The writer is the executive vice-president for Economics and Corporate Affairs, Royal Bank of Canada. THE Canadian dollar hasCharts by TeleTrac - 990 words
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460 1990-07-21 26 THE Group of Seven leaders meeting in Houston earlier this month did not dwell too much on developments in the foreign exchange markets. To a certain extent, they were distracted from currency concerns by more pressing issues, such as trade liberalisation and political events460 words
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535 1990-07-21 26 Alan Street - TAKING By Alan Street Prof Street is with the Nanyang Technological Institute. This article was contributed by the Life Insurance Association. of Singapore. ONE OF the most significant insurance developments to have taken place in Singapore in recent years is the tremendous growth535 words
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Article, Illustration1119 1990-07-21 26 Busines Week WHEN Europe made history in 1989, a lot of people made fortunes. That's the primary lesson from Business Week magazine's third annual survey of the Global 1000, which ranks the world's biggest companies by market capitalisation. The listBusines Week - 1,119 words
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THE TRAVEL PAGE
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Article1031 1990-07-21 27 aty n&t ETA FHM ETP MaMto SQ226 2035 QF81 2005 DhMH SQ23 1350 KL838 2115 KL837 1430 SQ24 2200 mm TE25 1610 TE28 1730 SQ338 1925 BA12 2200 tahrato QF5 2230 taMkl BI421 U00 SQ182 0915 BMM SQ181 1410 BJ422 1205 BI429 2030 Bt430 2125 B«hM1,031 words
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Article, Illustration636 1990-07-21 27 LETTER FROM BANGKOK Gertrude STEIN once wrote that "Dining is West" but she obviously never travelled East. Had she gone to Bangkok, she would have discovered a cuisine with flavours so overpoweringly delicious, she would have gone upstairs, scratched out the lie and636 words
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Article152 1990-07-21 27 As at 3pm yesterday; Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.4230 1.4430 Canadian dollar 1.5600 1.5800 NZ dollar 1.0640 1.0940 Sterling pound 3.2700 3.330 US dollar 1.8120 1.8220 Local dollars to 100 naits of foreign UBiiacjr Austrian schilling 15.40 16.40152 words
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Article106 1990-07-21 27 Duration Title Venue Organiser Td Duration Trtie Venue Org—er J® July 24 How To Profit From Hyatt AIC 03-*****43 Aug 2-3 Marketing Mint Court Malay*™ 03-24MS39 A 25 The Cost Control Aryaduta Conference Strategy Hotel StategK Revolution HoteUakarta Kuala LumpurConsukancy July 30 Property Financing Jakarta AIC *****98106 words
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TIME OFF
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Article315 1990-07-21 28 Hue Cry, Whisky Galore The Singapore Film Society will be organising the British Film Festival '90. Hue Cry tells a story of an imaginative teenager and his gang. Whisky Galore is a story of the islanders of Todday, who are plunged in gloom without whisky; or as they call315 words
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Article, Illustration172 1990-07-21 28 K Jayanti - Compiled by K Jayanti Contemporary Russian Art This exhibition of five contemporary Soviet artists' paintings is a first introduction to an otherwise "undiscovered" art. The paintings in this exhibition are an indication of the achievements of some Soviet artists, ranging from symbolic and quasi-rep-resentation to abstract work. Venue: Art172 words
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Article, Illustration439 1990-07-21 28 Cadillac Maa. The question is, can Robin Williams charm the movie audiences as much with a moustache as he does without? Tim Robbins also stars in this off-beat comedy about a Casanova car salesman. (Review on EL3) Capitol: 11; 1.30; 4; 6.30; 9.15. Changi 2: 11; 1.30; 4; 7.15;439 words
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Page 17 Advertisements
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Advertisement143 1990-07-21 17 (9 O E £3 SLNGAfOBfc "Buy fiif DAIMARLi DPS Orchard DPS Claymore HALLEVS BETAN Havriock ISETAN Orchard NAN HEN LEATHER GOODS REGENT STREET. Palais Renaissance SOGO AuAorhfll Dealer*: FAR EAST REPTILE HOUSE F J BENJAMIN Qiangi Airport JUHONO CROCOOILE PARADISE LEATHER LODGE LEE REPTILE LUCKY PLAZA REPTILE HOUSE MIDORI NAN143 words
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Page 18 Miscellaneous
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Miscellaneous40 1990-07-21 18 DOONESBURY BY GARRY TRUDEAU \mn, $&>.#£ vou iim* icwswvrr' BniH^ TfmncmW hbkbmuwu AsnNS/mvumtt Jontw Arrm/uvese I JMAWI WMSMTicI XX/TWMHn6tfT CARSON YZA/tS' OH. 9JH, OMt. t IH&PRS9S ABOUT. I 9CHPGFT I i tWKONMAUBU ASCBDHB 167% DRCAM, MMORH R£t£AS£' U I£MB oSSs I40 words
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Page 19 Advertisements
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Advertisement34 1990-07-21 19 Jap jgJ^F^Ct ml: *E» II I J I J ["J FILA SCOWS *1(0 LEISUREWEAR. #01-01, ORCHARD EMERALD, 210 ORCHARD ROAD (OPPOSITE SOMERSET MKT STATION). OPENING HOURS: 1030 AM TO 130 PM DAIUf. TEL *****5434 words
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Page 20 Advertisements
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Advertisement294 1990-07-21 20 WHERE TO WINE. DINE AND ENTERTAIN... WHERE TO WINE. DINE AND ENTERTAIN... WHERE TO WINE. DINE... FIESTA FILIPINO JULY 9 22 AT THE TEA ROOM The exotic heritage of Filipino cuisine, an exuberant blend of Malay, Chinese, Spanish and American dishes prepared by master chefs specially flown in from The294 words
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Advertisement329 1990-07-21 20 PLEASINGLY HYATT Discover the world of sensational Singaporean dishes in a buffet. Taste Singapore favourites and international specialities at Plum's, on Fridays and Saturdays. Dinner buffet onlv. Price: $22* ■miiiiiiHiiifiiu Mm 'Plus 10% Service Charge and 4% Government Tax. HWT REGOJCY©SNGAPORE i 10-12 Scotts Road. Singapore 0922. Tel: "*****8 Telex:329 words
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Advertisement237 1990-07-21 20 rB #T B-, SMfOOOTMOfTK enow mmmmm qJ J ■mniiißiiiamM hbhh Msnnnam 1 Weekend family luncheon Cantonese-Thai buffet at Seafood Theatre Restaurant. ree lunch plus soft drink for each ch,,d 12 I J iHvJfei I accompanied by an adult. JAdult: $16.50++ ISKkH Child: $10.00 Don't miss out on this d—Meblß feature!237 words
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Advertisement303 1990-07-21 20 vaPl a Oyster Rockefeller. Roast Porklotn stuffed with chillies, jl Prawns Creole, Flap Jacks, Apple Pie... the list goes on at The X Belvedere's American Buffet in July. For a true-blue American meal, c'mon over to The Belvedere MaiMhU July 1-31, noon 2.30pm if Adult $36++, Child below 10: $18+303 words
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Page 20 Miscellaneous
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Page 21 Advertisements
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Advertisement167 1990-07-21 21 AND ENTERTAIN High Fashion At High Tea. Every Saturday, High Tea is highly fashionable at the Fountain Lounge With a fashion show featuring some of Singapore's top models and best fashion. A® Century Pork Sheraton Singapore It NASSIM HILL, SINGAPORE 1025. TEL; 732 1222. CENTURY PARK SHERATON IS OPERATED BY167 words
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Advertisement110 1990-07-21 21 a Restaurant and 1 KV/IIV/% Karaoke Lounges FINEST RUSSIAN AND CONTINENTAL CUISINE Weekend jBOBBM Special Menu )lHDHNßoneless Chicken Rice ♦Home- made Herbal Mutton Soup +A la Carte as usual Restaurant Houra Lunch: Karaoke Hours Mondays to Saturdays Daily: 1130 am to 230pm 7.00pm to 2.00 am Dinner: Mondays to Sundays110 words
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Page 23 Advertisements
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Advertisement69 1990-07-21 23 '"J?* 1 L/lWtf jSrlf.O n»m wi«»a 1 H 1 t iUlti I smcial ,^^J| V Jul DRYCIN I S J :> HI ENGLAND m DISTILLED IN LONDON. ?j| ALEXANDER GORDON t COMPANY Kj "IHTiemtlttuulß KMC* M«IITIUM a v 4 HgF BF* T 9 SIR WV Dk fc NH l ifH69 words
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Page 23 Miscellaneous
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Miscellaneous51 1990-07-21 23 m 1 y M it ft r M i jn V f/i 9} NO SMOKING! y NO BOOZINGf LET'S GO DOWN THE PUB/ND > watch Some M i*# \T7m Jjf Wf A 1 3 ii REM. WHTS! 89fai g jp—""HPS* y i Q O 9 XS«g? If ■>. 1 >51 words
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Page 24 Advertisements
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Advertisement582 1990-07-21 24 MC^KyQCERa A VX/K YOCERA is a global manufacturer of electronic components, technical ceramics for semiconductor and other applications, optical instruments and electronic equipment. We have a career opportunity for: FIELD SALES MANAGER Reporting to the Area Manager, the appointee will liaise with customers with regard to the price quotations, credit582 words
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Advertisement214 1990-07-21 24 DHL IN THE NEWS Advertisement DHL EXPANDS INTO INDOCHINA With rich natural nationally, DHL has set up offices service for our outgoing docuresources and abundant supply in Cambodia. Laos, Vietnam meats since we started businees of labour, Indochina has been and Myanmar. in Vietnam." said the Managing seen by foreign214 words
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Page 26 Advertisements
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Advertisement184 1990-07-21 26 ottl i I HiK d* i 6 fl jJ LET US HELP TURN YOUR IDEAS INTO ASSETS II n a business, it takes Ideas to move you For years, Hong leong and Singapore I ahead. At Hong Leong and Singapore Finance have worked with thousands of Finance, we provide the184 words
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Page 27 Advertisements
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Advertisement44 1990-07-21 27 huMiios person > ihoicc c\cr\ lUI'HJJV. HI 1 m -w- 1 hurNiij\. I cjv ill;;( hun^i 1 I YC \irport Jt 22:25 hi»ur«» .mil arri\ins: Jt I.i IN EL V V I Ul\J\ Vt A II i: i. I H < M Fkksh All; Air Canada44 words
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Advertisement143 1990-07-21 27 nnnnaO I Bangkok !fi f BT SURVEYS Looking Wider, Thinking Deeper Some subjects are of such Interest to our readers that they demand more space and more research than can be given In our daily reporting. As part of BT's overall service we have always recognised this and taken the143 words
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Page 27 Miscellaneous
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Miscellaneous181 1990-07-21 27 20 Improvement for most of ing round (6) M ly has ring included (7) —I—L ***** I I J. 29 Ptaiseworthy double turn heavy overcoat (9) YESTERDAY'S SOLUTION Iby a politician (9) 13 Main road? (3-4) DOWN 15 See following summary liH I IfIHHTMBTrTTP'IH 'I*l*l*] 2 See slip perhaps through181 words
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Miscellaneous201 1990-07-21 27 Singapore Report (Thur) Max temp. 32.5"C Assoc humidity 64% Min temp. 24.9"C Assoc humidity 93% Hrs of sunshine. 8.15 Rainfall in mm 3.3 Rainfall this mth 56.2 Rainy days this mth. 7 World forecast Asia-Pacific Hi/Lo* Cood. Auckland 14/04 Windy Bangkok 34/25 Showers Beijing 33/24 Cloudy Brunei 33/23 Showers Hongkong201 words
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Miscellaneous25 1990-07-21 27 r) II v, .rv-.air. rvtup i rs\r l e 7 r" 9 S^!. say] I K\\\ S" /C 2/ C iVCNMO tTAMMMO CO. LTD, MtS-MM25 words
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Page 28 Miscellaneous
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Miscellaneous1759 1990-07-21 28 TODAY'S TV ■BB ■■imji.wt^—i i«ESB. Doctor, 2.45pm, SBC 5 the Race tor When dies because 12.10pm, SBC rm'tim silk Road II his family too poor to how the em- Across the Steppes. Here proper treat- blem the shy we the battlefield a young man vows where the two great culbecome1,759 words
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Miscellaneous704 1990-07-21 28 MOVIES ON TV 9 6iMm Nndhi, Moa, 1.30p, tutes with fish and chicken TY2 and comes up with a whole When word gets out that COOC there's an ancient Chinese tlons Wlt which he expenstatue with seven forbidden ments on his perennial acupuncture points and one adversary from the British704 words
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