The Business Times, 24 November 1990

Microfilm: NL17138
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    11 1 Business Times MCI (P) 170/12/89 Weekend Edition, November 24-25 1990 75*
    11 words
  • NEWS & MARKETS SUMMARY
    • Article
      Higher Thai lending rates
      73 1 THE THAI government said it was permitting commercial banks and private financc firms to raise their maximum lending rates. Finance minister Virabongsa Ramangkura said Thai banks will be allowed to charge clients a lending rate of up to 19 per cent, compared with a current 16.5
      73 words
    • Article
      Trade differences as wide as ever
      70 1 TRADE negotiators have all but given up in Geneva trying to narrow still major differences on reducing farm subsidies, convinced that only a ministerial meeting can reduce the gap, delegates said yesterday. The chasm between the European Community and other farm exporting countries such
      70 words
    • Article
      Dow down
      30 1 ;NEW YORK stocks were :wcak in early trading yester- day. The Dow was off about two to 2537, with decliners leading advancers by roughly j two to one.
      30 words
    • Article
      Footsie higher
      40 1 LONDON share prices were sharply higher at midday yesterday, boosted by hopes of a cut in interest rates. At about 1215 GMT, the Financial Times-Stock Exchange 100share index was up 31.4 points, or 1.5 per cent, at 2,159.3.
      40 words
    • Article
      Less optimistic
      35 1 TIMES Publishing, announcing a near 20 per cent jump in group profit after tax and minority interests to $28.01 million yesterday, has painted a less optimistic outlook for the current year Page 3
      35 words
    • Article, Illustration
      STOCK INDICES
      27 1 Friday Change BT-MGA 561.35 +0.76 Kuala Lumpur ....475.64 -0.62 Hongkong 3,016.06 -7.02 Tokyo Closed Sydney 1,366.6 -1.9 Thursday Change New York Closed London 2,127.9 +1.6
      27 words
    • Article
      CURRENCIES
      20 1 Exchange rates USS S$ 1.7090 Yen SS 1.3436 MS SS0.6366 Money market rates Overnight 3-3/4 -I 3-montn 6-1/16% -3/16
      20 words
    • Article
      COMMODITIES
      36 1 London Gold AM fix US$380 -US$0.20 Rnbbor S'porc Dcc !55.00*/kg -0.75 M'sia Dcc 243.50*/kg unch KL Tin Turnover 25 tonnes -5 Spot M$ 15.91/kg -0.11 Crude oalm oil Turnover 2,162 lots +251 Dec M$852/tonnc +21
      36 words
  • Article, Illustration
    Lock icon Costs go up 50pc for tourists in Singapore
    463 1  -  Republic still among least expensive in Asia-Pacific By Sangeeta Mulchand TOURISTS visiting Singapore this year had to contend with a 50 per cent rise in costs, the result of both higher prices and the appreciation of the Singapore dollar against the US
    Source: Singapore Monthly Report on Tourism Statistics, Jul 1990  -  463 words
  • Article
    Hotel rates fell for third consecutive month in July
    353 1 HOTEL rates for walk-in guests fell for the third consecutive month in July after peaking in April this year. This, says the Singapore Tourist Promotion Board (STPB), indicates that room rates may be stabilising. The weighted hotel tariff fell 1.1 per
    353 words
  • Article
    Lock icon Daim cautions merchant banks against overlending
    348 1 Bernama MALAYSIAN Financc Minister Datuk Paduka Daim Zainuddin yesterday advised merchant banks to be cautious in their lending to the real estate and construction sectors, especially in areas which could result in overcapacity and abandonment of projects at midstream. "All projects, especially for condominiums
    Bernama  -  348 words
  • Article
    UIC chairman sells entire stake in company
    580 1  -  By Amy Balan THE MUCH-expected announcement by United Industrial Corporation about a major acquisition failed to materialise yesterday. Instead, in a totally unexpected development, UIC said its chairman Lee Kim Yew had sold his entire stake in the company. Mr Lee has, however,
    580 words
  • Page 1 Advertisements
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        Esso and SPC raise diesel pump prices
        74 2 FS.SO and the Singapore Petroleum Company raised their diesel pump prices last night, joining the others which have aSy done so earlier in the week. The two compan.es pnces went up by 3.9 cents a litre to 64.2 cents, thus Pitting the, prices
        74 words
      • Article
        Infini takes off
        68 2 TO CATER TO the growing Japanese market, All Nippon Airways (ANA) together with some of the bigger airlines in the Asia-Pacific yesterday launched Infini, the first full-scale computer reservation system developed and marketed in Japan. The system, which will be linked to Abacus, provides travel agents with
        68 words
      • Article
        Vice-Admiral sails in
        66 2 THE Chief of Naval Staff of the Royal Australian Navy, Vice-Admiral Michael Hudson, yesterday called on the Minister for Communications and Information and Second Defence Minister (Policy) Dr Yeo Ning Hong. Vice-Admiral Hudson is in Singapore on a four-day official visit at the invitation of the Chief
        66 words
      • Article
        New man for enterprise centre
        63 2 Mr Lim Choon has been seconded by the Economic Development Board to head the Enterprise Promotion Centre which is run by the Board. Prior to his new appointment, Mr Lim worked in the Ministry of Finance, the Ministry of Trade and Industy and Singapore Computer
        63 words
      • Article
        Parks board sprouts leaf
        49 2 The newly-formed National Parks Board has unveiled a logo to represent its mission in promoting and protecting Singapore's national parks. Unveiled by Senior Parliamentary Secretary for National Development, Mr Lee Yiok Seng, the logo depicts the letter 'N' which is suggestive of a new leaf.
        49 words
      • Article
        Reminder on dengue fever
        50 2 THE Ministry of the Environment has reminded the public to take precautionary steps to prevent the outbreak of dengue fever and dengue haemorrhagic fever. In a statement yesterday, the ministry said that the incidence of such cases remains high despite its last reminder on Sep 10.
        50 words
    • Article, Illustration
      Sankyo Seiki gives special place to Singapore
      272 2  -  By Claire Leow JAPANESE parts manufacturer Sankyo Seiki intends to broaden its operations in this region, using Singapore as a base. As it becomes increasingly expensive to carry out production here, Sankyo Seiki also plans to shift low-value work to nearby countries, while
      272 words
    • Article
      Personnel managers place hopes on non-traditional sources of labour
      451 2  -  By Anna Teo MUCH as they welcome the latest policy move to allow services sector companies to employ more Malaysians, personnel managers say the solution to their labour shortage lies in the non-traditional source countries. This is because strong economic growth
      451 words
    • Article
      Training for plastics trade
      151 2 THE Economic Development Board (EDB) will launch a training programme next year to help workers in the plastics industry upgrade their skills and keep pace with the fast-changing technology. The programme, to be conducted at the GermanSingapore Institute (GSI), is also to give assistance to plastics
      151 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      548 2 Vtad toy No Berth kiM Vnsd toy H» >■> fcital Pqwrtat Keppei Wharves juronc Port Dapnchuan 61 K33 alongside 24.11/1500 J12 alongside 2411/2300 Wa Florean 1506W CIO alongside 23.11/2300 YannK JH alongside 24.11/1900 kangcheng 114 K30 alongside 23.11/1600 Chuan Fu No 26 112 alongside 24.11/1700 KoU Mu
      548 words
    • Article
      CONTAINER SCHEDULE
      1243 2 RECEIVING OF EXPORT FCL CONTAINERS AND LCI CARGO Record Booknt/Bahnce Rstts Ship Voy No Etb/Btr Period From To From Achtergracht AG04S 25/1500 2 23/1700 24/0659 24/0900 4 24/1200 24/1459 24/1700 ACX lily 4B 26/1900 4 24/1200 24/1459 24/1700 Ma Bhum 68S 25/1000 t 23/1500 23/1659 23/1900 3 24/0700
      1,243 words
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  • SINGAPORE – MALAYSIA COMPANY NEWS
    • Article
      Times Pub reports near 20pc jump in net profit
      501 3  -  By Lee Han Shih TIMES Publishing, announcing a near 20 per cent jump in group profit after tax and minority interests to $28.01 million yesterday, has painted a less optimistic outlook for the current year. Citing the repurcussions of the Gulf
      501 words
    • Article, Illustration
      C&C makes local property debut with $95m residential project
      388 3  -  By Lilian Ang THE Cycle Carriage (C&C) group, a name more often associated with the Mercedes Benz marque, yesterday took its first bold step into the local property scene, launching a $95 million residential project. The Hillview Villas project, which underpins
      388 words
    • Article
      EMS names Rothschild financial adviser
      166 3 BELEAGUERED ElectroMagnetic has appointed NM Rothschild Sons as an independent financial adviser to the company. NM Rothschild's task will be to evaluate and review the financial position of the EMS group and to put forward a financial restructuring proposal to the company's board of directors.
      166 words
    • Article
      Lock icon Lingui Dev expects turnaround in current year
      343 3 Bernama LINGUI Developments Bhd, which has not performed satisfactorily for the last four financial years, should achieve a turnaround in its current financial year ending June 30, 1991, chairman Chan Hua Eng said. He added in the company's 1990 annual report that the
      Bernama  -  343 words
    • COMPANY BRIEFS
      • Article
        Supreme Corp unit to sell land for M$9.5m
        82 3 SUPREME Corporation Bhd says its subsidiary, Sumber Realty Sdn Bhd, has agreed to sell 7.48 hectares of property in Batu Feringgi, Penang, to Geotrade Sdn Bhd for M 59.5 million. Supreme said in a statement yesterday that the sales proceeds, 10 per
        82 words
      • Article
        Sg Way in pipe-making venture
        71 3 THE Sungei Way Group has formed a joint-venture with a Belgian distributor to manufacture pipes for the Malaysian and export markets. The joint-venture company, Sunway Keramo Sdn Bhd, with a Mslo million paid-up capital, was formed between Sungei Way Quarry Industries Sdn Bhd, a wholly-owned
        71 words
      • Article
        Wednesday debut for Nam Fatt
        41 3 NAM FATT Bhd's entire issued and paid-up share capital of 32.70 million ordinary shares of Msl each will be listed under the industrial sector of the Kuala Lumpur Stock Exchange next Wednesday, the KLSE said yesterday.
        41 words
      • Article
        Nylex expects M$50m deals soon
        86 3 NYLEX (Malaysia) Bhd which has tendered for sales of its 11 kilovolt vacuum circuit breakers worth Ms2so million to various markets, expects to obtain awards valued at Msso million soon, managing director Richard Wong Chin Mun said yesterday. The tenders were a Ms2s-million closed tender
        86 words
      • Article
        M'sian accounting standard
        82 3 THE Malaysian Institute of Accountants and the Malaysian Association of Certified Public Accountants are jointly formulating a Malaysian accounting standard for the plantation and aquaculture industry to provide uniformity in the treatment and presentation of financial statements. The co-chair-man of the joint MIA-MACPA common working technical committee,
        82 words
      • Article
        Telekom not informed yet
        103 3 SYARIKAT Telekom Malaysia Bhd has not been officially informed by MIDF Consultancy and Corporate Services Sdn Bhd that the issuing house wants to stop being its share registrar, Telekom executive chairman Tan Sri Dr Mohd Rashdan Haji Baba said yesterday. He added that he had only
        103 words
    • Article
      Lock icon Call to allow KL brokers stakes in S'pore brokers
      239 3 Bernama TA ENTERPRISE Bhd hopes the Singapore government will allow some of the larger Malaysian stockbroking firms to take up equity stakes in Singapore securities firms, its chairman Mr Tiah Thee Kian said yesterday. One Singapore stockbroking firm had already been
      Bernama  -  239 words
    • Article
      Lock icon Two make disappointing debut on KLSE
      300 3 Reuter TWO MALAYSIAN stockbroking firms made disappointing debuts this week on the Kuala Lumpur Stock Exchange (KLSE), reflecting the lack of liquidity in the market and concern about the future of local broking houses. The two firms, Kimara Securities Bhd and TA Enterprise Bhd,
      Reuter  -  300 words
    • Article
      Lock icon Bank Negara takes over ministry's Telekom stake
      229 3 Reuter MALAYSIA'S central bank, Bank Negara, said it has bought from the Finance Ministry 88.249 million shares in state-controlled telecommunications giant Syarikat Telekom Malaysia Bhd (STM), which went public this month. A Bank Negara spokesman confirmed the purchase but declined to say when
      Reuter  -  229 words
  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      102 3 FOR WHO, WHAT, WHERE AND WHEN 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 trends in
      102 words
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  • COMPANY NEWS
    • COMPANY BRIEFS
      • Article
        MCA, Matsushita continue talks
        110 4 REPRESENTATIVES of MCA Inc and Matsushita Electric Industrial Co Ltd continued talks on Matsushita's acquisiton of MCA for between US$7O and US$75 a share, sources close to the negotiations said. At US$7O to US$75 a share, the deal would be worth about US$6.4 billion to US$6.B
        110 words
      • Article
        Polly Peck's citrus plant
        84 4 POLLY PECK International pic administrators were given access for the first time this week to Meyna, Polly Peck's citrus processing arm based in Mersin on the Mediterranean coast of Turkey. "The only mild surprise we have had so far is that a business of that size
        84 words
      • Article
        Adsteam firms rule out sales
        65 4 PETERSVILLE Sleigh Ltd and National Consolidated Ltd will not sell their cross-shareholdings in other Adelaide Steamship Co Ltd group companies at current low prices, their chairman said. Petersville Sleigh and National Consolidated chairman John Spalvins told the annual meetings of both companies that the current
        65 words
      • Article
        Unilever's UAM sold to Cargill
        58 4 UNILEVER pic said it had sold its UK agricultural merchanting operation United Agricultural Merchants (UAM) to commodities broker Cargill Pic for an undisclosed sum. Cargill Pic, a unit of privately owned US commodities trader Cargill Inc said it will complete the purchase of UAM, part
        58 words
      • Article
        Kenwood's earnings higher
        75 4 JAPAN'S Kenwood Corp announced on Thursday a better-than-expected net profit of 1.2 billion yen (nine million US$ dollars) for the six months to September but cut its earnings forecast for the full year. The company, Japan's second-larg-est manufacturer of specialised audio equipment, said sales amounted to US$64l
        75 words
      • Article
        Mannesmann's profits steady
        102 4 ENGINEERING group Mannesmann AG said profits in the first nine months of 1990 were steady at year-earlier levels, but gave no figures. Group sales rose 9.2 per cent to 17.01 billion marks in the period, while group incoming orders rose 2.9 per cent to 20.09 billion marks,
        102 words
      • Article
        Japanese buy stake in UK firm
        73 4 THREE Japanese firms including trading house Mitsubishi Corp have bought a 6.3 per cent stake in Britain's Animal Biotechnology Cambridge Ltd for a total of £500,000, a Mitsubishi spokesman said. The other two companies are Meiji Milk Products Co Ltd, and Nihon Nosan Kogyo
        73 words
    • Article
      Lock icon Interim profit at NTT takes 38.8pc dive
      177 4 AP NIPPON Telegraph and Telephone Corp, Japan's telecommunications giant, said on Thursday its unconsolidated net profit for the six months ended Sept 30 fell by 38.8 per cent from a year earlier to 69.8 billion yen (US$537 million). NTT attributed the fall to
      AP  -  177 words
    • Article
      Lock icon Formosa Plastics injects optimism into industry
      378 4 Chairman wants to build one or two naphtha crackers Reuter IN A LETTER to local petrochemical and plastics manufacturers published in local newspapers, Formosa Plastics Group chairman Wang Yung-ching said, "Taiwan's petrochemical industry should search for a second spring." Formosa Plastics has for more
      Reuter  -  378 words
    • Article, Illustration
      Lock icon Italian privatisation takes a step back with sale of Enimont
      542 4 Reuter A LONG battle for control of Italy's Enimont chemicals company came to a dramatic close on Thursday with Enimont sold to the state and the resignation of flamboyant tycoon Raul Gardini. Gardini, 57, said he had been practically forced
      Reuter  -  542 words
    • Article
      Lock icon SGS- Thomson venture expects losses
      215 4 SGSThomson venture expects losses Reuter FRANCO-ITALIAN SGSThomson Microelectronics will post losses in 1990 and 1991, said Alain Gomez, chairman of French Thom-son-CSF, which owns half of the semiconductor maker. SGS-Thomson's other parent is Italy's state-owned Istituto per la Ricostruzione Industriale. Gomez, speaking on Thursday at a meeting with reporters and
      Reuter  -  215 words
    • Article
      Lock icon Guinness to buy Spain's largest brewer
      327 4 NYT GUINNESS PLC announced plans on Wednesday to buy the largest brewer in the fastgrowing Spanish market for US$l.O2 billion. Analysts said the deal reflected the growing interest of multinational beverage companies in regional European brewers. Guinness, the Londonbased beverage giant, said it had
      NYT  -  327 words
    • Article
      Lock icon Tyre maker Continental rejects Pirelli's takeover bid
      434 4 IHT THE SUPERVISORY board of Continental AG on Thursday rejected a longstanding takeover bid by Pirelli Spa of Italy, but left the door open to a possible merger in the future. The action by the supervisory board followed an earlier decision by the
      IHT  -  434 words
    • Article
      Lock icon Good news for EC mergers
      447 4 Reuter THE EUROPEAN Commission's decision this week to drop its opposition to a takeover by Sara Lee/DE of coffee rival Van Nelle NV is good news for firms planning mergers in the run-up to the post-1992 single EC market, takeover experts say. Sara Lee/DE is
      Reuter  -  447 words
  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      87 4 FOR SUCCESSFUL MANAGEMENT OF YOURipiNESS Stories on labour and its relationship with management, management concepts in practice, profiles of leading managers in Singapore and relevant book reviews. ENTERPRISE MANAGEMENT, in Business Times every Monday, is must reading for managers who want the competitive edge. Plus an occasional look at successful
      87 words
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  • FINANCIAL NEWS
    • Article, Illustration
      Lock icon BLR rise must be justified
      407 5 Bernama BANK NEGARA will have to study the whole ambit of the cost structure of banking operations to determine whether a request by the Association of Banks in Malaysia for a hike in the base lending rate (BLR) is justified, Governor Tan Sri JafTar Hussein
      Bernama  -  407 words
    • Article
      Lock icon Taiwan ends foreign currency stipulation
      191 5 Reuter TAIWAN'S central bank, fighting speculative pressure to appreciate the Taiwan dollar, will end special reserve requirements for foreign currency deposits effective today, a statement said. The reserve requirements, 29 per cent for foreign currency passbook deposit accounts and 13 per cent for foreign currency
      Reuter  -  191 words
    • Article, Illustration
      Bearish view maintained for the US dollar
      431 5 DBS Bank weekly currency review US$/mark: Bearish view maintained US$/MARK was traded with a slight upward bias this week as it bounced off yet another low of 1.4640 on Monday to form a key reversal. Trading, however, was confined within a 200-point range
      431 words
    • Article, Illustration
      Lock icon Japanese life insurers' profits dive as portfolio values are halved
      515 5 AFP JAPAN'S major life insurers said their earnings fell sharply in the six months to September as the value of their securities holdings plunged by more than 12 trillion yen. The five biggest life insurance firms, among Japan and the
      AFP  -  515 words
    • Article
      Lock icon Malaysian insurers seek review of commission rates cut
      325 5 Bernama BANK NEGARA will study the request by general insurance agents for a review in the proposed reduction of their commission rates to 15 per cent from 21.1 per cent beginning next year, Governor Tan Sri Jaflfar Hussein said. "We are very
      Bernama  -  325 words
    • SMALL CHANGE
      • Article
        James Capel revamps gilts operation
        85 5 JAMES CAPEL and Co Ltd said it is merging its UK government bond operation with the Hongkong and Shanghai Banking Corporation. Peter Wrangham, executive director Europe and non-executive chairman of James Capel, said the relocation within the Hongkongßank group of the gilts business was designed
        85 words
      • Article
        Bank of Canada cuts rate
        89 5 THE Bank of Canada eased its discount rate on Thursday by one-tenth of a point to 12.25 per cent, prompting Canada's major commercial banks to lower their prime rates. The Bank of Montreal quickly lowered its prime rate by one-quarter of a point to 13.25
        89 words
      • Article
        BBL sees troubled times
        126 5 BANQUE Bruxelles Lambert (BBL) SA chairman Theo Peeters, who took the job in February, says the bank is going through troubled times as Belgium overhauls its markets and competition in Europe intensifies. "The impact of (the Belgian changes) is smaller margins and fiercer competition so it's
        126 words
      • Article
        Taiwan enforces curbs
        70 5 THE Monetary Department of Taiwan's Ministry of Finance has decided to restrict foreign and overseas Chinese companies from buying shares of banks that play a role in public policy or are about to be privatised, the Commercial Times has reported. Shares of private banks or financial institutions
        70 words
      • Article
        Firms asked to merge
        80 5 THE US Federal Reserve will allow Dutch NMB Postbank Groep NV and insurer Nationale-Nederlanden NV to maintain their US operations if they merge, the two companies said. The Federal Reserve Board granted an exemption allowing NMB Postbank Group and Nationale-Nederlanden to continue their separate business activities
        80 words
    • Article
      Lock icon Frankfurt ahead in race to be EC bank site
      540 5 Reuter IN THE RACE to house a future European Community central bank, the rules are vague and the finishing line is still a distant blur, but Frankfurt was quick off the starting blocks. While bureaucrats and central bankers hammer out the
      Reuter  -  540 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      30 5 \\l J fjp J paper copy tax j At last, an all-purpose highlighter that worits on all types of paper including carbonised and fax paper. ORANa/< RED BLUE < GREEN YELLOW
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  • Page 5 Miscellaneous
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  • THE REGION
    • NOTE BOOK
      • Article
        Resolve border dispute, Suharto urges Vietnam
        84 6 VIETNAM must resolve a border dispute with Indonesia in the South China Sea to promote the economic interests of both countries, Indonesian President Suharto said after a state visit to Vietnam. "If it is solved, Indonesia and Vietnam can cooperate in exploration," he said
        84 words
      • Article
        Components exports set to rise
        57 6 INDONESIA'S exports of automotive components are expected to increase by 80 per cent to US$lB5 million this year. Junior Minister for Industry Tunky Aribowo told a business seminar on Wednesday that cheap labour has given Indonesia an advantage in making automotive components. It exports components
        57 words
      • Article
        Tighter control of land buying
        77 6 NEW ZEALAND is planning to tighten up laws allowing foreign control of land but still wants investment from overseas, Lands Minister Rob Storey said. "Given that New Zealanders are concerned that our assets should not be freely sold to anybody and everybody. But given also
        77 words
      • Article
        Agency to plan bases conversion
        72 6 THE PHILIPPINE Congress will create a government agency next month to oversee the conversion for civilian use of land formerly controlled by the US armed forces, a senior legislator said on Wednesday. The proposed Bases Conversion Authority will convert the former base lands "as soon
        72 words
      • Article
        China replaces top HK official
        61 6 IN A MOVE to increase central control over Hongkong, China has replaced its top official responsible for the British colony, a spokesman for the Hongkong and Macao Affaire Office said yesterday. Lu Ping, deputy director since 1987, will take over the directorship. He replaces Ji
        61 words
      • Article
        Japan-PNG talks deadlocked
        61 6 ATTEMPTS by Japan and Papua New Guinea to revive a bilateral fishing agreement this week reached deadlock over a failure to agree on the level of catch payments. Fisheries and Marine Minister Akoka Doi said on Thursday that talks between officials were abandoned for the fifth time
        61 words
    • Article
      Lock icon IMF doubts Manila will achieve revenue target
      330 6 Reuter THE International Monetary Fund (IMF) has raised questions over the Philippines' ability to generate revenue to help it reduce its public sector deficit, Central Bank Governor Jose Cuisia said. He said the IMF found some projections in Manila's revised economic adjustment programme
      Reuter  -  330 words
    • Article
      Lock icon Economists expect Daim to present growth budget
      568 6 Bernama CURRENT world and domestic economic developments have led observers to conclude that the 1991 Malaysian budget will continue to focus on issues of growth without major changes to fiscal policy. While developments within the domestic economy are expected to remain encouraging and
      Bernama  -  568 words
    • Article
      Lock icon KL, HK manufacturers sign aid accord
      254 6 AP MANUFACTURERS' associations from Malaysia and Hongkong signed a memorandum of understanding in Kuala Lumpur on Thursday that aims to help bring Malaysian manufactured goods up to Hongkong standards. The agreement will also offer Malaysian expertise in commodities to the territory's manufacturers. The Federation
      AP  -  254 words
    • Article, Illustration
      Lock icon Hanoi prepares to end hardline leadership
      485 6 Reuter VIETNAM'S Communist Party is meeting this week to chart an end to a generation of hardline socialist leadership and to guide one of Asia's worst economies into the 21st century, officials and diplomats said. They said the Central Committee, due to end its
      Reuter; Reuter picture  -  485 words
    • Article, Illustration
      Lock icon Wage-tax deal favours lowering of rates: Keating
      357 6 Reuter AUSTRALIAN Treasurer Paul Keating said the wage and tax deal he announced this week was unambiguously good news for inflation and interest rates. Mr Keating, who earlier in the week announced increased tax cuts from January 1, was speaking in an address
      Reuter  -  357 words
    • Article
      Lock icon Plan for Disneyland-type park in Penang sparks eco-protest
      488 6 Reuter A PLAN for a Disneylandstyle theme park on the peak of Malaysia's Penang island has caused howls of protest from environmentalists. Developers want to build a 200-room hotel, a 350-unit condominium and theatres on Penang Hill whose 760 metre crags dominate
      Reuter  -  488 words
    • Article
      Lock icon NZ minister hopeful of fighting inflation with balanced approach
      363 6 Reuter THE NEW National Party government's balanced economic approach and more credible low-inflation target should give scope for a more neutral monetary policy, New Zealand Finance Minister Ruth Richardson said. "The real help is going to come from a more balanced
      Reuter  -  363 words
    • Article
      Lock icon International banks tighten credit to Aussie companies
      469 6 Reuter INTERNATIONAL capital markets have closed to Aus-tralian-owned companies or become more costly to tap due to corporate collapses, treasurers and bankers said. They said only companies with good credit ratings could borrow money offshore and even they had to pay higher interest
      Reuter  -  469 words
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  • THE WORLD
    • Article, Illustration
      Lock icon Heseltine faces tough battle against Hurd and Major
      420 7 Mrs Thatcher's resignation Reuter MICHAEL HESELTINE faces a tough battle against two respected cabinet members to win the Conservative Party leadership. The dramatic step by Foreign Secretary Douglas Hurd and his friend. Chancellor of the Exchequer John Major, to join the race
      Reuter  -  420 words
    • Article
      Lock icon A lost battle against European economic union
      542 7 AFP PRIME MINISTER Margaret Thatcher's fierce campaign to exclude Britain from an economic and political federation of Europe played a big part in her downfall. Mrs Thatcher fought and lost a major battle against plans to accelerate economic and political unity at a
      AFP  -  542 words
    • Article
      Lock icon No change in British policy towards Hongkong: governor
      301 7 AFP BRITISH policy towards Hongkong would not be affected by any change to the leadership of the Conservative Party following the resignation of Prime Minister Margaret Thatcher, Governor Sir David Wilson said on Thursday. But political analysts in this British colony said
      AFP  -  301 words
    • Article
      Lock icon Bittersweet news for British business
      518 7 AP PRIME MINISTER Margaret Thatcher's resignation on Thursday was bittersweet news for Britain's business community and financial markets. They were sorry to see Mrs Thatcher go because her staunch free-market policies have transformed British industry during her IIV: years in power. But they were relieved
      AP  -  518 words
    • Article
      Lock icon Negotiations in disarray over two key sectors
      408 7 Gatt trade talks Reuter GATT TALKS on liberalising world commerce were in disarray on Thursday because of basic disagreement over reforming trade in services and farm products and a possible walkout by several Latin American nations. At stake is the survival of the
      Reuter  -  408 words
    • Article
      Lock icon Latin nations unhappy with EC stance
      226 7 Reuter AGRICULTURE Ministers from Brazil, Argentina, Chile, Uruguay and Paraguay said on Thursday they would abandon the current round of Gatt world trade talks unless the European Community modified what they called its protectionist agriculture policies. "The agriculture question is vital. We will not
      Reuter  -  226 words
    • Article, Illustration
      Bushes end Thanksgiving visit
      39 7 American President George Bush and First Lady Barbara Bush waving goodbye to US Marines and members of the British 7th Armoured Brigade as they conclude a Thanksgiving Day visit with troops in the Saudi desert.
      39 words
    • Article
      Lock icon Russia can't transform economy alone
      376 7 AP THE RUSSIAN Prime Minister says his republic cannot single-handedly implement a 500-day plan to switch to a market economy without the help of the rest of the Soviet Union. "A considerable part of the 500-days programme can and will be implemented," Ivan Silayev promised
      AP  -  376 words
    • Article
      Lock icon Moscow, Seoul to sign six pacts
      244 7 Reuter THE SOVIET Union an, South Korea will sign sr pacts next month to tica each other as most favouret trade partner and to promott other economic exchanges, top Soviet official said yester day. Vadim Medvedev, semo adviser to Soviet Presiden Mikhail Gorbachev, saidth<
      Reuter  -  244 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Market closes mixed in dull trading
      4402 8  -  By Diana Oon SHARE PRICES closed narrowly mixed on the local stock exchange with bouts of cautious buying alternating with profit-taking. A market holiday in Japan yesterday and Wall Street's closure on Thursday for Thanksgiving contributed to the lack of sentiment on the Singapore
      4,402 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    4155 9 Main Board ICS 376 16 M.4% FELS 50 1 496 +12 2.5% SI A 995 +10 +10% kcppcl Corpn 490 +10 +2.1% OIJB 444 +10 +2.3% B Scmhawang 474 +6 +1.3% Roth Inds SO* 396 t-6 +15% Robinson 289 +6 +2.1% Isetan 50* 570 +5
    4,155 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Lack of fresh leads sends investors to sidelines
      3869 10 Bernama SHARE PRICES in Kuala Lumpur closed slightly lower yesterday in dull trading as investors stayed on the sidelines in the absence of fresh leads. The KLSE Composite Index slipped 0.62 of a point to 475.64 while the Industrial Index was 0.55
      Bernama  -  3,869 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      157 10 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 the necessary steps. Filling the gap
      157 words
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  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Prices slide in a paper-thin market
      2319 11 HONGKONG share prices closed lower in extremely quiet trading yesterday. "Volume is so thin it is impossible to read anything into movements," an analyst with a local house said. Market holidays in New York on Thursday and Japan yesterday squashed enthusiasm. "We should have
      2,319 words
  • Article
    TOKYO STOCK EXCHANGE
    1611 11 Vol 22 Nov Yen High Low (WO) Ajinomoto 1540 -1- 40 1540 1490 406 Akai 532 22 All Nippon Airways 1250 10 1290 1230 534 Asahi Breweries 1170 10 1180 1160 1151 Asahi Chem Industry 698 II 707 690 1201 Asahi Denka Kogyo 739 15 739 723
    1,611 words
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      25 11 The Tokyo market was closed yesterday. We reproduce here Thursday's prices for the reader's easy reference Keep up with Advertising Marketing in BT every Thursday.
      25 words
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  • REGIONAL STOCK MARKETS
    • Shares creep lower in Australia
      • Article
        AUSTRALIA
        1011 12 HOLIDAYS in the US and Japan and British Prime Minister Margaret Thatcher's decision to resign pushed Australian shares to a lower close in featureless trade yesterday. Brokers said the lack of direction from offshore bourses and uncertainty created by Thatcher's decision sidelined investors ahead of the weekend. "The market
        1,011 words
      • Article
        MANILA
        513 12 PHILIPPINE shares closed mixed to lower yesterday as profit-taking in oils inhibited a rebound attempt. Brokers said the decline ran on to a third consecutive day due to disappointment over so-far discouraging results at a drill site in the southern Philippines. The Manila Stock Exchange composite index shed 10
        513 words
      • Article
        TAIPEI
        445 12 TAIWAN stocks closed sharply higher yesterday after the chairman of Formosa Plastics Group, Taiwan's biggest indus- trial conglomerate, released a statement saying he wanted a "second spring" for the plastics industry there, dealers said. The weighted index rose 313.32 points, or 6.77 per cent, to finish at 4,926.39 compared
        445 words
      • Article
        BANGKOK
        635 12 THAI stocks drifted lower in thin trade yesterday as investors cautiously awaited a reaction from the army to the government's cabinet reshuffle, brokers said. The SET Index fell 3.33 to end at 638.95 from Thursday's revised 642.28 on turnover of 1.1 billion baht. Declines led advances 77 to 43.
        635 words
      • Article
        SEOUL
        748 12 SEOUL stocks closed little changed yesterday, with trading focusing on financial shares ahead of expected government announcement on guidelines for realigning financial institutions next week, brokers said. The composite stock index closed at 679.99, up 0.16 from the close on Thursday. Turnover was very thin at 135.6 billion won
        748 words
      • Article
        BOMBAY
        96 12 BOMBAY share prices closed lower on Thursday after partly recovering from an early collapse, brokers said. "Political factors affected the market," said a broker. "The new cabinet was a big let-down and we feel it won't be stable." Brokers said active buying by stateowned mutual funds halted heavy selling
        96 words
      • Article
        Untitled
        1181 12 Close Previous No* 23 SYDNEY All Ordinaries Index 1366.6 1,368.5 -1.9 All Industrials Index 2067 8 2,068.2 -0.4 All Resources Index 824.7 827.4 -2.7 Turnover (million) 58.24 76.20 -17.96 BANGKOK SET Index 638.95 642 28 -3.33 Turnover (million) 20.65 23.34 -2.69 JAKARTA Composite Index 390.04 Turnover (nearest '000) 1,530 MANILA
        1,181 words
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  • WORLD STOCK MARKETS
    • Demand for blue chips lifts German stocks
      • Article, Illustration
        LONDON
        846 13 SHARE PRICES closed slightly higher on London's Stock Exchange on Thursday after an erratic session prompted by the news of Prime Minister Margaret Thatcher's resignation. The initial announcement pushed the main index up more than 34 on optimism that Mrs Thatcher's departure would improve the Conservative Party's electoral chances.
        846 words
      • Article
        FRANKFURT
        555 13 GERMANY'S 30-share DAX index rose almost two per cent on Thursday as investors stocked up on blue chips on the final trading day before the launch of DAX futures contracts on the Deutsche Terminboerse futures exchange. Some dealers saw preparations for futures trade as a major force behind Thursday's
        555 words
      • Article
        AMSTERDAM
        371 13 DUTCH SHARES fell back to close lower in moderate afternoon activity on Thursday with US President Bush's calls for the release of hostages held in Iraq hitting market sentiment, dealers said. The CBS tendency index weakened to stand 0.7 points lower at 96.9 at the end of the day,
        371 words
      • Article
        JOHANNESBURG
        446 13 JOHANNESBURG share prices put on a steady performance on Thursday after Wednesday's losses despite renewed pressure from a strong financial rand. Further gains in the restricted foreign investment currency back towards its recent high of 3.40 to the dollar weighed heavily on prices. But good support at the lows
        446 words
      • Article
        ZURICH
        330 13 SWISS SHARES closed lower in moderate trading on Thursday as losses in Nestle and Brown Boveri and high Swiss interest rates weighed on the market, dealers said. In the morning session traders saw one major bank selling both Nestle and Brown Boveri. The SMI index of leading shares closed
        330 words
      • Article
        PARIS
        176 13 FRENCH share prices closed firmer on Thursday, boosted by buying at the end of the bourse month account, but dealers said US President George Bush's call for decisive action in the Gulf by Nov 30 put a lid on the rise. The CAC-40 index closed 12.71 points higher at
        176 words
      • Article
        BRUSSELS
        187 13 BELGIAN shares closed Thursday with small gains after a slow session with mixed influences coming from other European stock markets. "The (Belgian) market is in neither a clearcut bull or bear phase, but the downside worries are probably stronger," one broker commented. He noted that Belgian bond yields had
        187 words
      • Article
        TORONTO
        253 13 TORONTO stocks closed unchanged in dull trade on Thursday, with little market incentive due to the Thanksgiving day holiday in the US, dealers said. Most Canadian investors and brokerage firms also regarded the day as a holiday, they added. The composite index rose 0.71 to 3,103.81 after trading within
        253 words
      • Article, Illustration
        Untitled
        858 13 Nov 22 C lose Previous NEW YORK IXr* Jones dosed 2.539.36 NYSE Financial closed 114 02 SAP 500 dosed 316.03 Turnover (million) closed 141 LONDON f inancial Times 30 1,672.2 1676.0 -3.8 hTSF. 100 2.127.9 2126.3 1.6 Turnover (milium) 498.2 444.5 +53.7 AMSTERDAM CBS Tendency Indc* 96.9 97.6 -0.7 FRANKFURT
        858 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Sterling steady after news of Thatcher's resignation
      879 14 REPORTS BRITAIN'S pound sterling was steady in early European trading yesterday after Thursday's gyrations caused by Prime Minister Margaret Thatcher's decision to resign. The US dollar edged slightly higher and was expected to remain a tight trading range for most of the day
      879 words
    • Article, Illustration
      Lock icon Credit stance keeps rein on expectations: BOJ
      485 14 Reuter THE Bank of Japan's (BOJ) tight credit stance has led some money market participants to forecast another discount rate increase by year-end, but a senior BOJ official said this view was mistaken. The BOJ is keeping rates high to offset any sudden
      Reuter  -  485 words
    • Article
      Lock icon Governor seeks to bolster US dollar
      166 14 AFP THE Governor of the Bank of Japan, Yasushi Mieno, spoke out on Thursday to bolster the dollar, Japanese news agencies reported. "A sharp fall of the dollar against other major currencies is not desirable for worldwide economic stability," Jiji Press quoted Mr Mieno
      AFP  -  166 words
    • Article
      FINANCIAL FUTURES
      1173 14 SIMEX EURODOLLAR Open High Low Sett Est Vol Op/lnt Vol IXx 90 92.00 92X)i 92.00 92J0I 550 ***** 2320 Mar 91 92.47 92.48 92.47 92.47 700 ***** 6181 Jun 91 92.56 92.57 92.56 92.57 275 7480 2569 Sep 91 92.53 92.54 92.53 92.54 100 2817 489 IXx 91
      1,173 words
    • Article
      INTERBANK FOREX RATES
      387 14 Cross rates Nov 23 USS SS MS Dm Yen SFr AS NZS USS 1.7090 2.6800 1.4785 126.95 0.5076 1.2490 1.3029 1.6287 SS 0.5851 1.5682 0.8651 0.7428 0.2970 0.7308 0.7624 0.9530 MS 0.3731 63.77 0.5517 0.4737 0.1894 0.4660 0.4862 0.6077 Dm 0.6764 1.1559 1.8126 85.86 0.3433 0.8448 0.8813
      387 words
    • Article
      MONEY MARKET
      570 14 Interbank rates S$ Bid Offer Overnight 3 3/4 4 1-month 5 7/8 6 2-month 6 6 1/8 3-month 6 1/16 6 3/16 Overnight mode: 4-1/4 US$ Bid Offer 7 days 7 V4 7 7/8 1 month 7 3/4 7 7/8 2 months 8 1/8 8 1/4 3 months
      570 words
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  • COMMODITIES
    • Article
      Lock icon Coffee likely to start recovering by next year
      335 15 Reuter COFFEE PRICES, sharply lower since quotas were jettisoned in 1989, could begin to recover by as early as next year and should recover fully by 2000, a World Bank economist told delegates attending a coffee conference. Panayotis Varangis of the World
      Reuter  -  335 words
    • Article
      Lock icon Venezuelan oil firm plans to drill 341 wells
      345 15 Reuter THE Venezuelan state oil company Lagoven, an affiliate of Petroleos de Venezuela, plans to drill 341 new wells next year, the company said. Lagoven said the new wells are needed as part of the plan to increase Lagoven's production from the
      Reuter  -  345 words
    • Article
      Lower LME close sends M'sian tin below M$16
      836 15 REPORTS THE TIN PRICE on the Kuala Lumpur Tin Market fell 11 sen to M 515.91 per kg yesterday, the first time it had fallen below the Msl6 level in more than eight weeks, on poor fundamentals and lack of buying interest.
      836 words
  • Article
    PRICES
    1356 15 Rubber Nov 23 MS (fcfcta Hm) S centa/Vg Noon Close Inl I RSS Prompt 155.00/156.00N 155.00/ 156.00N Int I RSS Dec 90 155.00/156.00 I55.00/156.00N Int I RSS Jan 91 155.50/156.00 155.50/1 S6.00N Int 2 RSS OP 149.50/151.50N 149.50/151.50N Inl 3 RSS OP 144.50/146.50N 144.50/146.50N Int 4 RSS OP 140.50/142.50N
    1,356 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      7 15 Executive Jobs every Saturday in Business Times
      7 words
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      Page 15 Advertisements Column 2
      579 15 NOTICES NOTICE We like to inform that Mr CHI AM GEAK SENG TIPP CHIAM of NRIC No. *****24/Z is no longer in our employment since 15 November, 1990 and he is not authorised to collect any monies and conduct business transactions on our behalf. DPE INTERNATIONAL In the Matter of
      579 words
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  • Article
    HK lowers its forecast again, but marginally
    459 16  -  The Hongkong economy From Catherine Ong IN HONGKONG HONGKONG has again lowered its economic forecast for the year, this time marginally to 2.3 per cent. But officials yesterday reported higher growth in the third quarter. Government economist Tang Kwong-yiu told a press conference
    459 words
  • Article
    Growth in Hongkong likely to remain sluggish, says risk report
    472 16  -  By S N Vasuki THE HONGKONG economy is likely to experience more rapid growth during 1991 compared with 1990 though the pace of growth will remain sluggish, according to the latest risk report on the British territory prepared by Political
    472 words
  • Article
    Lock icon US very close to getting UN approval: Bush
    270 16 The Gulf Crisis AP US President George Bush said on Friday that he is very close to getting United Nations approval to use force against Iraq but that even without it "we have the authority to do what we have to do.
    AP  -  270 words
  • Article
    Lock icon Thai generals meet as power struggle continues
    198 16 Reuter THAI generals, annoyed that Premier Chatichai Choonhavan is resisting their demands lor changes in government, staged a show of unity yesterday as the power struggle raged. The military top brass flew to the Satthahip Naval Base, the country's largest, to attend a
    Reuter  -  198 words
  • Article
    PM signs water deal today
    148 16 PRIME Minister Lee Kuan Yew goes to Kuala Lumpur today to sign the water and gas agreements with Malaysia. He will be accompanied by Mrs Lee; First Deputy Prime Minister Goh Chok Tong and Mrs Goh; National Development Minister S Dhanabalan; and senior officials. Mr
    148 words
  • Article
    Lock icon UK govt survives 'no confidence' vote in Parliament
    329 16 Reuter BRITAIN'S Conservative government easily survived a parliamentary vote on Thursday on a motion of "no confidence" proposed by the opposition Labour Party. The Conservatives won by 367 to 247 in the vote prompted by a leadership challenge which forced Prime Minister
    Reuter  -  329 words
  • Article
    S'pore team to push for a longer US textile pact
    390 16  -  By John Tan A SINGAPORE team leaves today for the US to hammer out a more liberal bilateral agreement for trade in textiles and garments, which is worth about $1.3 billion a year. Sources say the team hopes to return
    390 words
  • Article, Illustration
    A visitor for Chok Tong
    65 16 PRIME MINISTER designate Goh Chok Tong (left) receiving Indonesia's Coordinating Minister for Economic, Financial and Industrial Affairs and Development Supervision Dr Radius Prawiro at his Istana office yesterday. The Indonesian minister also called on Prime Minister Lee Kuan Yew and Trade and Industry Minister Brigadier-General
    65 words
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      Page 16 Advertisements Column 1
      5 16 (sflccht) (ienuine l eather Collection
      5 words
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      Page 16 Advertisements Column 2
      158 16 sAcchiQ den nine Leather Collection Heseltine faces tough battle, Pg 7 Putting Humpty Dumpty together again, EL 2 Of all the fare that Singapore is famous for, crustaceans are probably the most popular delicacy. Testimony to this is the overcrowding that many begrudgingly accept in pursuit of tkeir favourite dish.
      158 words
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  • Executive Lifestyle
    • Article, Illustration
      Lock icon Paradise on a short-term lease
      1678 17  -  An estimated 250,000 expatriates are living in Singapore. That includes everybody, from maid to general manager. Andreas Augustin looks at the top earners, explaining why for them, it's... Andreas Augustin Andreas August in is the author oj "Have You Tried a Chinese Man an expose
      JENNIFER CHUA  -  1,678 words
    • STRAWS IN THE WIND
      • Article
        Copy mag
        25 17 SAY WHAT? Spotted on the back of an SBS bus splasfced with an advertisement forfhe new magazine '8 Days*r-jA Dublication of SBC Enterprises.
        25 words
      • Article
        Soup de golf
        50 17 A NEWLY-WED whose husband practically turned her into a golf-widow got her own back when she served him a bowl of hot water with golf balls in it for dinner one night. "What's this?" he asked. "Golf ball soup," she sniffed, "since you like it so much."
        50 words
      • Article
        Mouth-watering
        60 17 IF YOU'VE enjoyed the food at Mouth Restaurant in Chinatown Point, especially its stewed ee-fu noodles, maybe it's because of the special ingredients used. In the menu, that dish is known as "Stewed E-Fu Noodles, 'Human Style'". And that's not all. You can also enjoy dishes like "Peaking Duck"
        60 words
      • Article
        Grape gripe
        80 17 IN A recent issue of the magazine, Young Families, one worried parent wrote in for advice on what to do with a child who would not eat, Cut drank gallons of Ribena. What she didn't realise was that writers of all published letters receive a hamper of products,
        80 words
    • OPINIONS
      • Article
        Putting Humpty Dumpty together again
        1024 18  -  Who will be able to restore the credibility of the Tories? Neville Stack examines the credentials of the challengers to Mrs T's crown Neville Stack Neville Stack is a writer, consultant and political commentator in England AFTER the seismic trauma of suddenly finding itself without
        1,024 words
      • Article, Illustration
        Chok Tong: Not just a change in style
        1132 18  -  Mr Goh Chok Tong, who will be Prime Minister on Wednesday, has said his government will bring a change in style and not in substance. In the last of his three articles on the political transition, Tan Tarn How goes forward in
        1,132 words
      • Article
        Projected final revenue collection may be a little optimistic
        315 18  -  LETTERS TO THE EDITOR Alan S S Ow for Commissioner of Inland Reveme PLEASE REFER to your report "Inland revenue takings likely to exceed $7b" (BT, Nov 19) Revenue collection has risen and will in all probability rise to an all-time
        315 words
      • Article
        Make arrangements for store-valued tickets
        124 18  -  Denis W Distant SOON the residual value of stored-value tickets will no longer qualify for one trip. Could SMRT ensure that before then, practical arrangements are established so that we will not find very long queues of passengers at MRT station control rooms waiting to
        124 words
      • Article
        Speculation about overseas staff wage bill
        93 18  -  Karmjit Singh Assistant Director Corporate Affairs Singapore Airlines Limited WE REFER to the "Don't Quote Me" column (BT, Nov 17-18). Our reply to BT of Nov 13 specifically drew attention to the wage bill at SlA's home base and that the correct figure, due
        93 words
      • Article
        What has Santa Claus got to do with Christmas?
        80 18  -  Alfred Chan I REFER to the recent queries arising from the use of a goat as Christmas decoration outside the Mandarin Hotel, and the question of what a goat has to do with Christmas. The next question that comes to my
        80 words
    • SPORTS
      • Article, Illustration
        Man who rules the waves
        894 19  -  Paul Ramani talks to powerboat champion Jonathan Jones about how he got into the sport, his victories and defeats and the race in Singapore Paul Ramani HIGH-SPEEDS. somersaults and dangerous twists are things most people would avoid in their lives. But for reigning world powerboat
        894 words
      • Article, Illustration
        Lock icon Maradona may breach contract
        513 19 AP FOR some soccer commentators, and many Neapolitan fans, Diego Maradona's decision to desert Wednesday's Cup of Italy match against Fiorentina should mean the end of his play in Italy. "Diego proved that he no longer loves Napoli and Neapolitans. He should leave this city," Antonio
        AP  -  513 words
      • SIDE LINES
        • Article
          Kiwis ready to begin Cup campaign
          108 19 THREE CRAFT will arrive in San Diego in January as part of New Zealand's bid to win the America's Cup in 199* Two of the three craft being built in Auckland will leave-Tor the United States on board a freighter on Dec 1. A
          108 words
        • Article
          Real Madrid names new coach
          49 19 FORMER REAL Madrid soccer great Alfredo Di Stefano became the new coach on Wednesday of the Spanish champion club, replacing Welshman John Toshack, who dismissed earlier in the week. "It is an honour to coach a great club like Real Madrid," said Di Stefano.
          49 words
        • Article
          Equestrian financial flop
          45 19 THE WORLD Equestrian Games held in Stockholm in August could end as a financial flop. The two-week eyent ended with a 12 million crown (US$2.2 million) deficit, chief organiser Ulf Rosengren said. This was despite sponsorship totalling 56 million crowns (US$lO.l million).
          45 words
        • Article
          All German soccer body
          45 19 EAST AND West German soccer federations united on Wednesday to establish the first pan-German institution since 1945. West German DFB delegates voted unanimously to allow the North-East German Soccer Federation, which replaced East Germany's DFV on Tuesday, to join their ranks.
          45 words
        • Article
          Montreal's Olympic-size debt
          80 19 QUEBEC'S Olympic Installations Board said the debt incurred by the 1976 Olympic Games in Montreal will not be paid off before 1996. The cost of the Olympic facilities, estimated at C 5922 million in 1976, has reached Csl.2 billion. The board said it has already paid Csl
          80 words
        • Article
          Watkins' knee rules him out
          71 19 HOOKER lAN Watkins' hopes of regaining his place-iiHhe Wales side for the forthcoming Five Nations Championship have been wrecked by the discovery of a deep-BJBfed thrombosis in his injured leg. The Cardiff forward, out of action since twisting knee ligaments against Pontypridd on Oct 20,
          71 words
        • Article
          US-USSR draw in soccer game
          55 19 THE UNITED States held the Soviet Union to a CMJ3raw on Wednesday as part of a three-team soccer toumaflHSßLat the National Stadium in Port of Spain. The Soviets dhominated the first half and had several scoring opportunities. But they were turned back each time by
          55 words
    • EPICURE
      • Article, Illustration
        The devotion to dian xin
        878 20  -  Quek Swee Peng on light-weight lunches of dian xin, the de riguer for the chopstick crowd Quek Swee Peng SUCCESS has not spoilt dian xin restaurants which continue to pack the crowds in, especially during weekends. Evidently, the proprietors are well aware that popularity does
        878 words
    • LIFESTYLE 1
      • Article, Illustration
        They are only a creation of their times
        861 21  -  Milli Vanilli was made possible by an industry and audience that have no right to turn on them now, says Sammad Rejab Sammad Rejab The writer is a BT sub-editor TWO WEEKS ago, the uninitiated might have mistaken the name Milli Vanilli
        861 words
      • Article, Illustration
        The subtle selling of a musical
        285 21 THEY could have had a lucky draw. Or Moe Alkaff to tell a couple of jokes. But no. To celebrate its 10th anniversary, a local ad agency decided to book an entire ballroom and treat their guests to champagne sherbet and a bubbly musical.
        285 words
      • Article, Illustration
        A taste of Alsace's Riesling Clos Sainte Hune
        675 21  -  WINE By N K Yong WE ARE ensconced in the lovely picturesque L'Hostel de la Peipiere, just four km outside Ribeauville on the road to Saint Marie aux Mines, France. It is right on the highway, completely isolated, not a building within
        675 words
      • Article, Illustration
        Once in a Blue Moon
        589 22  -  Suzanne Soh is bedazzled by a newly opened lifestyle store. And it is not because of its zillions ot starry lights. Its range of merchandise will send any yuppie on a spending spree Suzanne Soh SEXY FRENCH lingerie and jeans with open flics. No, Ann
        589 words
      • Article, Illustration
        Little Singapore, little Japan
        527 22  -  Zanzibar makes Samuel Ee feel as if he has entered a time warp Samuel Ee WHEN I WAS little, my mother accidentally (I think) dropped my potty on my head. Fortunately for me, it was empty. Unfortunately for me, the slight concussion left me with intermittent
        527 words
      • Article, Illustration
        A penchant for timeless timepieces
        552 22  -  Cassandra How talks to the man behind Patek Philippe's private museum Cassandra How WHEN he was young, Alan Banbcry discovered a natural affinity for fixing watches. More so than curing sick animals, so he passed up on veterinary school (his parents' wish) and went to
        552 words
      • Article, Illustration
        A designer ahead of his time
        419 22  -  By Cassandra How The first thing that strikes you about an Erte design is its dazzling artistry, a vision you would not expect from an ordinary man. "He was one of those rare people who took his illustrations and raised them to fine art
        419 words
    • PURSUITS
      • Article, Illustration
        Summer heat, winter cool
        242 23 WHAT'S WORSE than not being able to afford some boutique's autumn range? Answer: Not being able to wear them in sizzling Singapore. Fortunately, however, there aren't too many uncool individuals like that around. One outstanding exception happens to be the recent winner of Executive Lifestyles Mr
        242 words
    • PERSONAL FINANCE & INVESTMENT
      • DON'T QUOTE ME!
        • Article
          Watch your fingers do the faxing
          143 24 WE WILL be the last to deny that the fax is a wonderful invention, but sometimes a slip of the finger on the machine can send vital information to the wrong party. A few years ago, for example, a corporate takeover was delayed for
          143 words
        • Article
          Three Cheers for Saddam?
          209 24 NOVOTEL ORCHID INN, a member of CDL Hotels, is running high on the Gulf crisis. It recently played host to some US servicemen from the aircraft carrier Independence and its escort vessels, which made their first port call after 110 days of Gulf duty. We are
          209 words
        • Article
          Steeling the show
          126 24 ANYBODY who needs a reminder of how big Japanese companies are should take a look at Kawasaki Steel. On Tuesday, Kawasaki said it will spend 13 billion yen "on several projects to commemorate its 40th anniversary". This.'includes one billion yen to set up a steelmaking research foundation,
          126 words
      • Article, Illustration
        Turbulence on the exchange rate front
        989 24  -  Norbert Walter assesses the strengths and weaknesses of the world's major currencies Norbert Walter Prof Walter is the chiej economist of Deutsche Bank IT IS becoming apparent around the globe that business activity is increasingly developing asymmetrically. As a result, the interest rate landscape
        989 words
      • Article, Illustration
        Lock icon Sterling: the Thatcher factor
        482 24 Mrs Thatcher's resignation as Britain's PM was good news for the pound, say traders Reuter Foreign exchange traders were agreed that Margaret Thatcher's resignation as Britain's Prime Minister was good news for sterling, as it increases the chances of a Conservative victory at the next general
        Reuter; Source: TeleTrac  -  482 words
      • Article, Illustration
        Technical outlook for plantations
        240 24  -  CHART By Goola Warden •Ms Warden is a chartist with OUB Securities THE KLSE Plantations Index was a clear underperformcr during the Malaysian market's 1988-1990 bull run as evidenced by downtrends AB and RS in Chart I, the relative strength chart. Relative strength (not to be
        240 words
      • Article
        Warrants: premiums and gearing
        649 24 Prices (as at 22.11 JO) Conversion terms Premium/ (discount) Amount U/rf. 1 n site Fvar ELZZZjM using m Company Issued irns onsrt Ui S» Com UVl prict Lnstk Cash Cash 1 Lnsft 2 Gearing* Data (m units) ■a||A nom left raio value C4CW1 37.5 0.910 1.00
        649 words
      • Article
        Short-term outlook for platinum bearish
        907 25  -  Excess supply, recession fears and the uncertainties of the Gulf crisis are putting downward pressure on the price of platinum, according to a Johnson Matthey report condensed here by David Cnew David Chew The price of platinum, already dampened, looks set to weaken further over
        907 words
      • Article
        Lock icon US survey paints bearish mood
        384 25 Some analysts, however, are bullish about the figures in the latest weekly US poll of private investment advisers Reuter THE Investors Intclligcncc Advisory Survey, a weekly US poll of private investment advisers, shows that 47.5 per cent of advisers remain bearish and 40 per cent
        Reuter  -  384 words
      • Article, Illustration
        Lock icon US investors flock to utility and other high-yielding stocks
        844 25 With the Gulf crisis still unsolved and an economy that is stagnating, Wall Street finds solace in utility and other high-yielding stocks International Business Week NO TIDY aphorism seems to encapsulate Wall Street's response to the recent combination of stand-off in
        International Business Week; Source: Bridge Information Systems Inc  -  844 words
    • JOBS
      • Article, Illustration
        Do the best you can and let other people judge you
        783 26  -  The challenge to prove that Malay/Muslim organisations can succeed economically is too good to miss, Zaiton Ahmad tells Shoeb Kagda Shoeb Kagda WHEN Zaiton Ahmad returned to Singapore after spending nine years in East Malaysia, it was a home-coming
        783 words
      • Article
        Lock icon Honestly, it's not easy to screen potential employees
        688 26 Pre-employment honesty tests catching on UPI WITH EMPLOYEE thefts costing US business some US$4O billion a year, honesty tests are fast becoming a standard part of pre-employ-ment screening. Companies in the United States have increasingly turned to written tests in the two
        UPI  -  688 words
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        EXECUTIVE MOVES
        336 26 Mr Richard Bean has been appointed managing director of Colliers Jardine (Singapore) Pte Ltd International Property Consultants. He was previously managing director of Richmark Corporation, a real estate development and consultancy company in Australia. Mr Alan Harden is the new managing director of Scimitar Asset Management (Singapore) Limited
        336 words
    • THE TRAVEL PAGE
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        AIRCRAFT ARRIVALS AND DEPARTURES
        936 27 City FlgM ETA FUglrt ETD City FBgfct ETA FBgfct ETD Aitlllil SQ228 1910 QF82 2115 MH645 2 359 QF81 2010 2 IIS SST MHS4, IKS MH640 MOO 0*47. CO.* SS* Bg! llil Aaeklaad NZ22 1830 K«watt KL837 1505 KL838 2150 BAV2 2200 London SQ19 0810 SQ20
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      • Article, Illustration
        A hamlet of Edwardian homes
        526 27 LETTER FROM SAN FRANCISCO IN A CORNER of the North Beach Playground, hidden away by chain link and ivy, a group of old Italian men play bocce undisturbed by traffic or the sound of children playing nearby. A few blocks away, on the north side
        526 words
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        MONEY CHANGER RATES
        150 27 As at 3pm yesterday: IjkiI dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.3010 1.3210 Canadian dollar 1.4630 1.4830 NZ dollar 1.037 1.067 Sterling pound 3.3520 3.3720 US dollar 1.7050 1.7150 Local Mln to 100 writs of foreign currency Austrian schilling 16.20 17.20
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        WORLD TRADE EXHIBITIONS
        97 27 Duration Title Venue Organiser Duration Title Venue Orpmaer Tel Nov 19-25 International Peru Feria Intemacional ********** Dec 5-7 International Stockholm Stockholm*- (46)8/*****00 Fair for Del Pacifico Exhibition massan AB jii Agriculture of Medical Livestock, Sciences Fishery Agroindustry Jan 11-14 International Nord- Salon >i Nov 20-24 International Denmark
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    • TIME OFF
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        THEATRE
        201 28 Music For Evoryono Concert Pianist Dang Thai Son will be giving a recital in this concert series. His programme will include works by Debussy, Chopin and Rachmaninoff. Victoria Concert Hall. Nov 25. Bpm Lasalle Young Musicians In Concert It features Lasalle's most gifted musicians and the programme includes Concerto
        201 words
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        EXHIBITIONS
        305 28 Our World A joint exhibition by Andrew Jack of New Zealand and Arwinda Hurip of Indonesia. The exhibition is a collection of mixed media paintings inspired by the flora, fauna landscapes and elements of our world. The Oriental, Singapore, 5 Raffles Avenue, Marina Square. Nov 29 to Dec 12.
        305 words
    • Article, Illustration
      CINEMA
      514 28 Come See the Paradise. Picturehousc's inaugural movie about a mixed-marriage caught up in anti-Japanese sentiment in American during World War 11. Randy Quaid and Tamilyn Tomita find the fence of an internment camp coming between them. Picturehouse: 1.30; 4; 6.45; 9.15. Jacob's Ladder. From Adrian Lyne, director of Fatal
      514 words
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      119 17 |R .N "I WANT YOU TO RIDE FOR ME AT ROYAL ASCOT." l 4^^ A nik^f HM jflH (l JBWyT»~ I l M W~~ ...A OMEGA. The watch that records the world's significant moments. At the Olympic Games. In outer space. And exclusively for you. "*C y The Omega Constellation
      119 words
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      26 18 BT welcomes letters from you. Address them to: The Editor, Business Times, Times House, 390 Kim Seng Road, Spore 0923. Letters should include your contact numbers.
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  • Page 18 Miscellaneous
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      Page 18 Miscellaneous Column 1
      34 18 DOONESBURY BY GARRY tRUDEAU OKAY, LSTSGO 1 HERB IN RIYADH, BUT FIRST LET% S6ND ED 'SSFiStSI- mmSbamSSs "XZfilt!!? MLLARD! HOUJ SHAPE' PBXFSCT IDA &TR6£OUS UNO*LAW... HOT IS n, GUY 7 V W UtAmfrFORA 6
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      59 19 The Cutting Edge Arrow shirts. Contemporary designs for those who ark a cit above thf rest. "■Arrows ix most t 9«i r, tk mj» > Available at oil leoding deportment stores and also Arrow Shops at OUB Centre. Peninsula Ploxa and Chinatown Point, licensee distributor Apparel World (S) Pte ltd.
      59 words
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      1327 20 WHERE TO WINE, DINE AND ENTERTAIN WHERE TO WINE, DINE AND ENTERTAIN WHERE TO WINE, DINE Didn't I see you at Scandals? 7|; I > ■■r i i Kvcry I huraday: Indies Night. Kvery Night: Che place to sec and be seen. Scandals, Singapore's most sophisticated club and meeting place.
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      254 21 AND ENTERTAIN Brunch Is A Family Affair Every Sunday. Sunday BRUNCH: 11AM TO 2.30PM. */m lAMI TK-U 'TlB ADULTS $3i.00»♦ JHB R[ CHILDREN »'.£?*i'f^E-^SSL ii9.oo*+. Every Sunday, Hubertus Grill becomes the venue for a great Sunday family outing. A scrumptious buffet spread is laid out for both grown-ups and children.
      254 words
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      Page 21 Advertisements Column 2
      55 21 The bridge column has been held over Sumptuous Teochew Cantonese DianXin Lunch W oms24o Daily at Centrepoint: mm** *T)5-16 Centrepoint ft H >B fc Orchard Road Tel: 733 3338 Only on Saturday, Sunday j j| Holiday at Battery Road:- lliflii!) ITll 9 Battery Road *81-()0 TEOCHEW CITY Straits Trading Building
      55 words
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      13 23 Photography: Lim Sin Tnai Model: Tony Hair and make-up: Cindy Seah of Fox
      13 words
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      Page 23 Advertisements Column 2
      52 23 r^~^s^,';s£&> 1 !Tr isr~ UM^E^MGAGNEURS:; Sole Distributor Triumph International (S) Pte Ltd. 37 Jalan Pemimpin. #02-04 Singapore 2057. lei *****11 HOM Homewear available exclusively at Daimaru Fashion Tailor Gaieries Lafayette Isetan Wisma Atria Metro Far East Metro Grand Metro Paragon OG Peoples Park Shangtze Sogo Tangs Tham Yee Tokyu Vista
      52 words
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      52 25 Great Eastern Life has over 80 years of experience and the solid back-up of assets of over M $2.5 billion. M As the leading local life insurer, we 're committed m to taking care of you, now and into the 21st century. jn j Great Eastern Life JQP/ We take
      52 words
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      Page 25 Advertisements Column 2
      179 25 1 I LET US HELP TURN YOUR IDEAS INTO ASSETS 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 the expertise and put businesses of every size and
      179 words
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      461 26 Who Leads Singapore? Ruled by a tightly knit group of politicians and bureaucrats led by Prime Minister Lee Kuan Yew, the Republic's power elite has broadened in recent years to include business executives and a few women. Twenty- I k five years ago, only a handful of individuals held the
      461 words
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      Page 26 Advertisements Column 2
      76 26 10 let* Bet i rrrne-it *H»n rx>» ♦<* your b<«t This book describes a retirement plan, covenng all aspects: mental attitude, finance, health, living arrangements, work-paid or voluntary and leisure. It offers you a bkiepnnt lor the change of your life The secret is to prepare yourself for it, and
      76 words
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      Page 26 Advertisements Column 3
      148 26 DHL IN THE NEWS Advertisement DHL SPANS THE WORLD DHL was started in pany with a global network network, DHL is helping the United States in 1969 of over 1,344 offices serv- companies to improve their by three men Dalsey, ing 55,000 communities in productivity and distrttjuHillblom and Lind who
      148 words
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      99 27 fl U HiF I HHl■■ H H IIRB I 11 I I I 111 I U■ ■wYH H■■ mr mr hip w hp us mm ip I I I I I I W H :^v M I I t! IT I I |r I I Our soccer writers say it
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  • Page 27 Miscellaneous
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      Page 27 Miscellaneous Column 1
      295 27 chop and cold soup 12 Spots teenagers may have 13 Harsh questioner from —pL-p^— 15 Hot companion con16 Greek money or German money char exchanges iner near the Welsh border jg—^^ Teesside area (4) 26 Hibernian goddess with as- jlpn 111 i i i i piration (5) I I I
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      Page 27 Miscellaneous Column 2
      202 27 Singapore Forecast (Thur) Maximum temperature 3I.TC Assoc humidity 66% Minimum temperature 24.8* C Assoc humidity 96% Hours of sunshine 6.15 Rainfall in mm Nil Rainfall this month 116.4 Rainy days this month 13 World forecast Asia-Pacific Hi/Lo* Cond. Auckland 20/13 Fair Bangkok 33-25 Fair Beijing 12/02 Cool Brunei 30-24 Showers
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      Page 27 Miscellaneous Column 3
      22 27 r.-r.eurwi> (%SMOOH OTISHOO BR»STOU- rve uxxskto WD XII Hilar 'S S»T H€R£."T*UOHG you fiLt dry C^o^O C EVENING STAWOAWO CO. LTD.. PW
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  • Page 28 Miscellaneous
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      1606 28 TODAY'S TV —v Swordsman 155 <*>« Juwita, 3pm, SBC 5 Midnight Caller, 7.30pm, M TVI young half of two ill-fated lovers More soul-searching and so- WW* H 750 AM Qwra who are tricked by his show- liloquizing as the ex-cop- 800 The Adveetures of Terry biz partner into separating, tumed-agony-aunt-of-the-air-
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      Page 28 Miscellaneous Column 2
      650 28 MOVIES ON TV The Natural, Mon, 10.30pm, ed Dean finds out that his SBC 12 presumably deceased mother Robert Redford does a semi- s none other than the madsquat and swings a baseball 3m of .the local brothel. Raybat in this movie about talent mond Massey and Julie never dying;
      650 words