The Business Times, 2 February 1991

Microfilm: NL17399
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    11 1 Business Times MCI (P) 16/12/90 Weekend Edition, February 2-3 1991 75*
    11 words
  • NEWS & MARKETS SUMMARY
    • Article
      Fed lowers key bank lending rate to 6pc
      44 1 THE Federal Reserve Board announced yesterday it was lowering its key bank lending rate to 6 per cent from 6.5 per cent. The reduction in the discount rate, effective immediately, was the second in five weeks.
      44 words
    • Article
      Dow lower
      37 1 WALL STREET stocks were under pressure in opening trade despite news of the Federal Reserve's half-point cut in the discount rate. The Dow was off about nine to 2728, with declines narrowly ahead of advances.
      37 words
    • Article
      Footsie down
      53 1 AFTER having shrugged off the 0.5 per cent rise in German interest rates in buoyant trading on Thursday, shares came down to earth with a thud yesterday on the London stock exchange. As a result, the Footsie index of 100 leading shares was down 13.5 points at 2,156.8
      53 words
    • Article
      HP ventures
      23 1 AMERICAN computer company Hewlett Packard Singapore may set up joint ventures with local partners as it expands its horizons Page 2
      23 words
    • Article
      Bankruptcy auction
      32 1 UNEXPECTEDLY keen competition to buy the airport gates and take-off and landing slots of Eastern Airlines has led the bankruptcy judge handling Eastern's case to schedule an auction Page 4
      32 words
    • Article
      Otto speaks
      28 1 BUNDESBANK president Karl Otto Poehl said the German central bank's decision to raise key interest rates was aimed at adjusting policy to market conditions Page 5
      28 words
    • Article
      Market holiday
      31 1 THE KUALA Lumpur Stock Exchange and all other Malaysian financial and commodities markets were closed yesterday for the Federal Territory Day holiday. Trading in all markets resumes on Monday.
      31 words
    • Article, Illustration
      STOCK INDICES
      28 1 Friday Change BT-MGA 613.49 +2.03 Kuala Lumpur ....Closed Hongkong 3,223.49 -19.81 Tokyo 23,156.70 -136.44 Sydney 1,301.8 -19.6 Thursday Change New York 2,736.39 +23.27 London 2,170.3 +17.7
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    • Article
      CURRENCIES
      19 1 Exchange rates USS SS 1.7270 Yen SSI.3I58 MS SS0.6403 Money market rates Overnight 4 -3/8 3-month„„ 4-5/8% -1/16
      19 words
    • Article
      COMMODITIES
      16 1 London Gold AM fix US$367.95 -USS1.65 Rubber S'pore Feb l47.00*/kg +1.50 M'sia Feb 23l.50*/kg unch
      16 words
  • Article
    Air fares go up for second time in four months
    486 1  -  By Rahita Elias FLYING from Singapore now costs about 5 per cent more. Led by national carrier Singapore Airlines (SIA), airlines operating from the Republic yesterday raised, for the second time in four months, their published fares. SIA said the
    486 words
  • Article
    Inter-Roller seeks Sesdaq listing
    428 1  -  By S N Vasuki UNDAUNTED by the war raging in the Persian Gulf, Inter-Roller Engineering Ltd, a material handling company with a turnover of $18 million, is seeking a listing on Sesdaq. The company is making an initial public offering (IPO) today of 6.5 million new
    428 words
  • Article, Illustration
    Lock icon Iraqi troops go on the offensive again
    402 1 THE GULF M/ARk FIGHTING raged yesterday as Iraqi forces left defensive positions to hit a Saudi frontier town. Allies used the opportunity to hammer an exposed tank column reinforcing the three-day assault, authorities said. The BBC said several Iraqi tanks were destroyed by
    Reuter picture  -  402 words
  • Article, Illustration
    Lock icon Gatt talks nearing breakthrough: Yeutter
    485 1 Reuter US Agriculture Secretary Clayton Yeutter said on Thursday that talks to reform international trade are "on the verge of a major breakthrough". Speaking to reporters, Mr Yeutter said the European Community is showing a "very, very significant shift in attitude and a commitment to
    Reuter  -  485 words
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        Muslim body against Iraq's aggression
        119 2 THE ASSOCIATION of Muslim Professionals has said that Iraq's aggression was unacceptable and could not be condoned and that it hoped for an early settlement of the Gulf situation. Commenting on a recent survey on the reactions of Singaporeans to the Gulf War published by
        119 words
      • Article
        Porro sets up Singapore office
        98 2 PORRO TECHNOLOGIES, a Hongkong-based computer manufacturer, has opened a regional office in Singapore as part of its expansion plan in South-east Asia. The Singapore office will be responsible for the management of the distribution network and technical support in the region. An assembly line may
        98 words
      • Article
        Keen contest for tourism awards
        73 2 KEEN COMPETITION is expected for this year's tourism awards, said the Singapore Tourist Promotion Board yesterday. There are three new categories this year, including one for the best travel article (non-English). The most prestigious award for outstanding contribution to the tourism industry will be given
        73 words
      • Article
        Case moving to Bukit Merah
        64 2 THE CONSUMERS Association of Singapore's office will be closed from Monday for six days when Case moves its current Shenton Way office to Bukit Merah. Case's new address will be: Block 164, #04-3625 Bukit Merah Central, Singapore 0316. The new telephone numbers are: 270 5433
        64 words
      • Article
        Italian embassy holds art show
        76 2 AN ART EXHIBITION organised and presented by the National Museum and the Italian Embassy will be held from Feb 9 to 24. The two-week-long exhibition at the National Museum Art Gallery is named after an Italian, Carlo Carra (1881-1966), who was an active exponent in
        76 words
    • Article
      Petrol to go up by 5 to 15 cents a litre from Monday
      322 2  -  By Lilian Ang MOTORISTS in Singapore will have to pay between five and 15 cents more for each litre of petrol from Monday, when the government's drive to get people to use unleaded petrol gets under way.
      322 words
    • Article, Illustration
      Art for arts' sake
      92 2 MORE THAN $200,000 is expected to be raised from an art exhibition now held at The Substation. Some 36 works donated by renowned artists in Singapore, China, Taiwan and Japan are on display at the exhibition, titled The Images. The money raised will be used to
      92 words
    • Article
      HP looks to tie-ups with local partners
      247 2 AMERICAN computer firm Hewlett Packard (HP) Singapore may set up joint ventures with local partners as it expands its horizons. "We have to be selective but there are possibilities in product joint ventures," said managing director Alex Chan. This means "hard products" that
      247 words
    • Article
      Journal of Statistics makes debut
      225 2 STATISTICS should be tapped for what they are: data that tell a story and serve policy-makers, academic and business users, not a mass of figures couched in theory and principles. Hence the study and application of statistics should emphasise the practical aspects, said a statistician
      225 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      663 2 Vessel Voy No Berth Arrival Deparfcie lli Birth biKM D«pirtin_ uufcarw- Hor* Sow 2/91 M2A 02 02/0800 02.02/1500 Altar Ace 4 K30 alorwside 0102/1100 Mekong Exp 1/9H MAC 01.02/1730 0202/0600 SSoSl K29 aEg 01.02/1800 Snratea 02/91 M4B 0202/0700 tt/»0 Frota S pore 29Eb K33 02.02/1100 Swee Long
      663 words
    • Article
      CONTAINER SCHEDULE
      1255 2 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Booking/Balance Ms Sty Voy No Etb/Btr Period From To From AGX Daisy 8B 04/1800 1 01/1500 01/1659 01/1900 3 02/0700 02/1159 02/1400 4 02/1200 02/1459 02/1/00 Aha Bhum 461N 03/0800 2 01/1700 02/0659 3 02/0700 02/1159 02/1400 Arabian Sea
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  • COMPANY NEWS 1
    • Article
      Asian economies can weather a mild recession: broking firm
      715 3  -  By Shoeb Kagda ASIAN economies, facing softer oil prices, lower interest rates and easing inflation, will be able to contain a shallow recession in the coming year. But recovery will neither be soon nor dramatic, according to leading regional stockbroker Hoare
      715 words
    • Article
      Nomura-Rosenberg fund-management deal
      301 3  -  By Quak Hiang Whai A COMPUTER system, watched over by one fund manager, is now looking after a $1 billion Singapore-based fund for a member of the Nomura Securities group. The computerised portfolio management system, which lets one manager do the work of 20, has been installed
      301 words
    • Article, Illustration
      Freeing of M'sian rates will hit most companies except banks
      655 3  -  MARKET TALK By William Chia THE decision by Malaysia's central bank to remove control of base lending rates (BLR) from February I is likely to have a negative impact on most companies excepts banks. The BLR is the prime rate
      655 words
    • Article
      Lock icon HLC expects condo sales worth M$90m
      287 3 MBT HONG LEONG Credit's < (HLC) proposed develop- < ment of two blocks of super luxurious condominiums along Jalan Sungei Choh, Johor Baru, is expected to generate sales of MsBo million to Ms9o million. Japanese and Singaporeans are expected to form the main bulk
      MBT  -  287 words
    • COMPANY BRIEFS
      • Article
        GK Goh sets up unit for long-term investments
        72 3 GK GOH HOLDINGS has incorporated a wholly-owned subsidiary, GK Goh Strategic Holdings Pte Ltd on Jan 29, to undertake long-term investments. GK Goh Strategic has an authorised share capital of $10 million and a paid-up capital of $1 million. The incorporation of
        72 words
      • Article
        UOL cuts UOB stake to 5.92pc
        49 3 UNITED Overseas Land (UOL) sold 350,000 United Overseas Bank (UOB) shares on Jan 28 for $2.16 million and a further 200,000 shares on Jan 29, for $1.24 million. The sales reduced UOL's interest in UOB from 6.06 per cent to 5.92 per cent.
        49 words
      • Article
        KMP raises Inno-Pac stake
        32 3 KMP PRIVATE Ltd has increased its interests in Inno-Pacif-ic Holdings to 20.17 per cent after buying 50,000 shares at an average price of 97 cents on Jan 31.
        32 words
      • Article
        SMP buys 30pc of SMP(M)
        81 3 SUPERIOR Metal Printing Ltd has acquired a 30 per cent stake in Superior Metal Printing (M) Sdn Bhd from mutual parent, SMP Investment Ltd, Hongkong, for M 5660,000. The cash consideration was based on net tangible asset backing as at 31 December 1989. Wuthelam Holdings
        81 words
      • Article
        DBS Land cancels bonds
        66 3 DBS LAND has cancelled U5512,155 million nominal amount of its US$75 million one per cent bonds due 1995 with warrants. Of that amount, certificates totalling $5,155 million nominal value were tendered between March 1990 and August 1990 as payment in connection with the exercise of warrants.
        66 words
      • Article
        Hour Glass Warrants bought
        30 3 MDM CHAN Siew Lee bought 12,000 The Hour Glass Warrants on Jan 31, and another 10,000 warrants on Feb I, priced at 35 cents per unit.
        30 words
      • Article
        Temerloh unit sells stake
        132 3 TEMERLOH Rubber Estates has sold through its whollyowned subsidiarv. Seatex Plantations its entire 1.6 million shares of Msl each or a 33.5 per cent stake in Plantation Processing for M 51.95 million cash. In a statement to the Kuala Lumpur Stock Exchange, the company said the
        132 words
    • COMPANY BRIEFS
      • Article
        British Airways may lay off up to 5,000
        110 4 BRITISH Airways may slash between 3,000 and 5,000 jobs to reduce costs in the face of recession and the Gulf war, the Financial Times reported. The paper said the airline was expected to discuss a reduction ot up to 10 per cent
        110 words
      • Article
        Global M&A activity drops
        108 4 THE volume of global merger and acquisition activity in January tumbled 55 per cent, from the year-earlier period, and 49 per cent from December 1990, according to a survey by Securities Data Co Inc. The volume ot US combinations fell even more sharply, down 63 per
        108 words
      • Article
        Lotus incurs first quarterly loss
        84 4 LOTUS Development Corp reported the first quarterly loss in its nine-year history on Thursday, dropping US$3l.6 million (5554.35 million), in contrast to a profit of $29.4 million, or 69 cents-a-share, in the quarter a year earlier. For the year, the company earned $23.3 million, or
        84 words
      • Article
        Hasbro and Tonka to merge
        75 4 TOY giant Hasbro Inc and struggling competitor Tonka Inc announced on Thursday that they will merge, combining under one roof the manufacturers of classic toys ranging from the GI Joe soldier to the Monopoly board game. The exact value of the deal was unclear but
        75 words
      • Article
        Disney, Touchwood movie deal
        102 4 THE Walt Disney Company has sealed a US$6OO million (Ssl billion) financing arrangement for pending motion picture production with Touchwood Pacific Partners I, Disney officials announced on Thursday. Touchwood Pacific Partners I is a US limited partnership, whose interests were placed by Japan's Yamaichi Finance, an
        102 words
      • Article
        Xerox earnings up 11 pc
        89 4 XEROX Corp said on Thursday that stronger-than-expected copier sales lifted fourth-quarter earnings by 11 per cent, overcoming a sharp decline in earnings from financial services. Xerox shares rose sharply, gaining U555,375 (559.24) on Thursday, or more than 12 per cent, to $48.75, on the New
        89 words
      • Article
        Hungry for venture partners
        91 4 THE National Oil and Gas Trust (OKGT), Hungary's stateowned energy company, has been discussing co-operative ventures and asset sales with potential partners, its chief executive said. Mr Jozsef Subai said such deals could help finance OKGTs expansion and modernisation plans, adding, "We have been negotiating for
        91 words
      • Article
        J&J fourth-quarter earnings up
        54 4 JOHNSON and Johnson said on Thursday its fourth-quarter earnings rose 14 per cent to US$232 million (***** million), or 70 cents-a-share, compared with $203 million, or 61 cents-a-share, a year earlier. The world's largest healthcare company said fourth-quarter sales grew 13 per cent to $2.79 billion,
        54 words
    • Article
      Lock icon Saatchi expected to announce revamp of ownership terms
      370 4 NYT BOWING to pressure from shareholders, Saatchi Saatchi, the troubled Lon-don-based advertising giant, is expected to announce early next week a new plan to change the terms of its equity ownership. If no plan is approved, there is a possibility that Saatchi
      NYT  -  370 words
    • Article, Illustration
      Lock icon Eastern's assets to be auctioned off
      467 4 Keen competition for airline's airport gates, takeoff and landing slots NYT UNEXPECTEDLY keen competition to buy the airport gates and takeoff and landing slots of Eastern Airlines has led the bankruptcy judge handling Eastern's case to schedule an auction. As a result, some of
      NYT  -  467 words
    • Article
      Lock icon Three Polly Peck firms up for sale
      117 4 Reuter POLLY Peck International pic said three US food businesses of Polly Peck other than PPI-Del Monte are offered for sale. Although these businesses are considered to be fundamentally sound and adequately financed, they are no longer considered part of the core operations
      Reuter  -  117 words
    • Article
      Nava risks losing 40pc of its business
      413 4 NAVA Finance and Securities Co, which handled the highest share turnover in Thailand in 1990, could lose as much as between 30 and 40 per cent of its business, as a result of the bid for new broker seats on Monday, The Nation
      413 words
    • Article, Illustration
      Lock icon 'No escape' remark prompts cut in Rank profit estimates
      500 4 Reuter LEISURE industry analysts trimmed 1991 profit forecasts for UK leisure group Rank Organisation pic after the group said it could not escape generally poorer market conditions. BZW cut its forecast for 1991 pre-tax profits by £20 million (Ss66 million) to
      Reuter  -  500 words
    • Article
      Stop stalling, ministry tells Thai Airways
      372 4 THE Thai Finance Ministry has said that Thai Airways International (THAI) must list its shares on the stock exchange and not sidestep the plan with other options. The Nation reported. Strong words were issued yesterday by Mr M R Chatumongkol Sonakul, Comptroller General, amid
      372 words
    • Article
      Lock icon Shell and Chinese in petrochemical joint venture
      273 4 AFP THE Beijing government has approved a plan by multinational oil group Shell, and a group of five Chinese interests to build a US$2.5 billion (554.3 billion) joint-venture petrochemical plant, the China Daily reported yesterday. A senior official from the China National Offshore
      AFP  -  273 words
  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      156 3 THE GROWTH TRIANGLE A Special Business Times Survey February 26, 1991 The Growth Triangle began casually as an idea. Singapore. Batam. Johor. Singapore has a rich pool of managerial talent. Batam and Johor are rich in natural resources, land and labour. Combine the three and they make a triangle of
      156 words
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  • FINANCIAL NEWS
    • Article, Illustration
      Lock icon German rate rise purely technical, says Poehl
      486 5 Agencies BUNDESBANK president Karl Otto Poehl said the German eentral bank's decision to raise key interest rates was aimed at adjusting policy to market conditions. "It is a purely technical move. It is not dramatic because it is an adjustment to market rates,"
      Agencies  -  486 words
    • Article
      Lock icon US agency says insurance fund is safe
      499 5 Regulator disputes need for a taxpayer bailout to keep fund afloat NYT AMERICA'S top banking regulator, Mr William Seidman, has flatly contradictcd forecasts that the bank insurance fund he manages would be insolvent within the next two years. On the defensive against a
      NYT  -  499 words
    • Article, Illustration
      Outlook for US dollar is bearish
      522 5 DBS Bank weekly currency review US$/DM: Rising wedge objective of 1.4625 still in sight AS EXPECTED, the bullish divergence seen in the daily stochastics last Thursday brought the US dollar higher, as it tested the resistance at 1.5020 on Wednesday before resuming its decline.
      522 words
    • Article
      Lock icon Gulf International Bank curtails worldwide business
      383 5 Reuter GULF International Bank (GIB), which is Bahrain's seeond largest offshore hank and is partly owned by Iraq, said it had sharply cut back its worldwide operations. GIB general manager Ghazi Abdul Jawad said that the bank had laid off 30 stall in London
      Reuter  -  383 words
    • Article
      Hongkong brokerage association to dissolve
      129 5 ORGANISERS of the Hongkong Financial Brokerage Association (HKFBA), embittered by their failure to gain government recognition, have decided to dissolve it, the South China Morning Post reported. But chairman Chum Tingpong denied that it was the lack of government support that had led to the
      129 words
    • SMALL CHANGE
      • Article
        US Treasury to borrow US$34.5b next week
        101 5 THE US Treasury Department planned to borrow U5534.5 billion (Sss9 billion) next week in a series of debt auctions. None of the funds are needed to cover the costs of Operation Desert Storm, Deputy Assistant Secretary Michael Basham said. "We have sufficient cash
        101 words
      • Article
        HKBank to maintain M'sian BLR
        103 5 THE Hongkong and Shanghai Banking Corporation sees no necessity to raise its base lending rate at its Malaysian branch at the moment and will maintain it at the present level of 7.5 per cent, said its chief executive officer in Kuala Lumpur, Mr David G
        103 words
      • Article
        Chemical to close Seoul branch
        113 5 CHEMICAL BANK of the United States became the third foreign bank this year to announce that it was closing its branch office in Seoul. Chemical said it planned to convert its 12-year-old branch to a liaison office which would concentrate on foreign exchange, capital markers
        113 words
      • Article
        Debt revamp plan for Uruguay
        53 5 URUGUAY and representatives of its 69 international creditor banks said they signed a US$l.6 billion (552.75 billion) restructuring package in Montevideo on Thursday. "This positive response to the package by commercial banks worldwide represents strong support for Uruguay's economic reform programme," said William Rhodes, senior
        53 words
      • Article, Illustration
        Dollar$ & Non$en$e
        2 5 Dollar$ Non$en$e
        2 words
    • Article
      Lock icon Foreign securities firms may ignore Seoul ministry's deadline
      682 5 AFP EUROPEAN and US securities firms in South Korea arc debating whether to pass up a Financc Ministry deadline for submitting applications to do business in the country, industry sources say. The deadline for submitting letters of intent falls on Feb 5.
      AFP  -  682 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      115 5 tSa ORJG fcSTB I*6 om TlffiN rcfiSßl curry tiff in...a favourite repast of the cotoniol days. Just mildly hot and spicy but so aptly tasty. Experience on original cum/ tiffui affair,fntpand with Ihe choicitM spices and condiments to complement, at tmmarson's Tiffin "Rooms. CURRy TIFFIN BfIUNCH SONPAi Br PU&IIC HOC/DAYS
      115 words
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  • REGION & WORLD
    • Article
      Lock icon British-US air talks break down
      651 6 Deadlock over five final demands made by London NYT THE latest round of talks aimed at fashioning a new civil aviation treaty between the United States and Britain ended angrily on Thursday after neither side would budge over five final demands by the British. The
      NYT  -  651 words
    • Article
      Lock icon Hard landing awaits high-flyers of Japan's property boom
      426 6 Reuter MORE high-fliers of Japan's property market look likely to crash to earth, and industry analysts say that is pretty much what monetary authorities had in mind. "So far. Bank of Japan (BOJ) policy is on target," said Mark Brown, real estate
      Reuter  -  426 words
    • Article
      Lock icon Brazil freezes wages and prices in bid to kill inflation
      385 6 Reuter BRAZILIAN Economy Minister Zelia Cardoso de Mello on Thursday froze all prices and wages indefinitely in a surprise bid to kill inflation, which is running at about 20 per cent a month. Ms Cardoso, in a televised speech, announced
      Reuter  -  385 words
    • Article, Illustration
      Lock icon Accord on US bases could lead to regional alliance: Manila
      358 6 Reuter A NEW accord extending the stay of American bases in the Philippines could be the first step towards a wider regional security agreement among countries in South-east Asia, a member of the Philippine government said yesterday. Foreign Secretary Raul
      Reuter  -  358 words
    • Article, Illustration
      A California in the making
      752 6  -  Plans are afoot to turn Pahang into a major industrial and cultural centre By Shoeb Kagda SUN soaked beaches and rugged mountain ranges are the first things that come to mind where the Malaysian east coast state of Pahang is concerned. The largest state in
      752 words
    • Article
      Lock icon US envoy takes offence at remark by Manglapus
      283 6 Reuter THE US ambassador in Manila reacted angrily yesterday to remarks by Philippine Foreign Secretary Raul Manglapus that Washington was now the world's constable because of its role in the Gulf War. The US "has now evolved into the undisputed superpower vested
      Reuter  -  283 words
    • Article
      Lock icon US and Soviets cut deal on Gulf and Baltics
      322 6 AFP WASHINGTON has won continued Soviet support for its Gulf war policy by promising to ease up on its criticism of the Soviet military crackdown in the Baltic republics, government officials in the American capital said on Thursday. "We made a
      AFP  -  322 words
    • Article
      Lock icon Country again on verge of civil war: Croatian leader
      401 6 AP CROATIA warned on Thursday that escalation of its dispute with the Yugoslav federal army had raised anew the spectre of civil war and walked out of a meeting with regional leaders trying to smooth out acute differences over the country's
      AP  -  401 words
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  • THE GULF WAR
    • Article
      Lock icon UN dismisses Gulf crisis as cause of world economic slowdown
      687 7 AFP THE world economy suffered a slowdown last year, but the prime cause was not the Gulf crisis, the UN said on Thursday. Reporting that the economies of most nations had declined, the UN said a notable exception was Japan,
      AFP  -  687 words
    • Article
      Lock icon Teheran calls for help in meeting losses from war
      462 7 FT IRAN is calling on the international community for help and compensation for losses resulting from the Gulf war, j concerned that its economic plight is being ignored while increased aid is being given to countries such as Egypt, Jordan, Israel
      FT  -  462 words
    • Article, Illustration
      Valour in her heart, love on her head
      56 7 Mama's girl: Captain JoAnn Conley of Cavalier, North Dakota, wearing a button on her helmet with a photo of her two-and a Stephanie, on it in Saudi Arabia on Wednesday. Capt Conley admits the button is not government issue, but she challenges
      56 words
    • Article
      Lock icon Seoul increases aid with an eye on dividend
      319 7 AFP SOUTH KOREA decided to make an additional contribution to the anti-Iraq allied effort in the Gulf war for "our own national interest". Defence Minister Lee Jong-Koo said on Thursday. He quoted the US and Saudi governments as having said that post-war
      AFP  -  319 words
    • Article
      Lock icon Between the lines of a Gulf statement
      674 7 NYT IN MANY WAYS, the latest statement on the Persian Gulf, which was issued by US Secretary of State James Baker 111 and Soviet Foreign Minister Aleksandr Bessmertnykh without warning on Tuesday night, was much more revealing about current American-Soviet tics than it
      NYT  -  674 words
    • Article
      Lock icon Japanese economy expected to feel the pinch
      450 7 Reuter JAPAN'S US$9 billion extra aid package for the IJS-led Gulf war effort is expected to have a deflationary impact on the domestic economy, analysts say. But many economists in Tokyo say the economy is unlikely to slump immediately. unless the war drags
      Reuter  -  450 words
    • Article
      Lock icon US will have to be more careful with its money
      430 7 AP THE MOUNTING price tag of the Gulf War probably won't lead to domestic spending cuts in the US but will make it tougher for Congress to finance new or expanded initiatives. Many legislators say that with the federal deficit
      AP  -  430 words
    • Article
      Lock icon Japanese oil firm fears damage to its Khafji plant
      475 7 Asahi JAPAN'S largest oil producer, Arabian Oil Co, has said it fears that Iraqi soldiers may have damaged some of its facilities in the surprise attack on Wednesday on the Saudi border town of Khafji. The Khafji facilities have the capacity
      Asahi  -  475 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Retail investors focus on lower-liners and warrants
      869 8  -  By Quak Hiang Whai THE SINGAPORE stock market closed slightly firmer yesterday with the Straits Times Industrials Index finishing 0.47 point higher at 1,267.72. The BT Composite Index rose 4.99 points to finish at 1,094.24 while the weighted BT-Morgan Grenfell Index firmed 2.03
      869 words
    • Article
      Untitled
      3831 8 Gr's Gr's 1990/91 'el Ust Vol Day last Quote Div Div Vld Net M Cap H h Ij0 Cod Company Sale +or- (TOO) High Ijom Buyer Seller Cvr P/K Smil INDUSTRIAL COMMERCIAL 277 152 t 1000 Acma 184 -I 333 188 183 184 185 112.8 290 165 1142 Alex Hides
      3,831 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    3659 9 Main Board UK I lie 1400 50 F3.7% NatSteel 850 t M) K3.7% PHI S 50* 580 >4.5% Asia Pacific 960 H5 1.6% kennel Corpn 660 I 15 t 2.3% Ol'E 550 *15 2.8% PEU>° Wl 209 HI 1-5.6% SIA 200 1050 t 10 t
    3,659 words
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  • Article
    KUALA LUMPUR STOCK EXCHANGE
    2940 10 1991 last Vol Day Net Cap 1 HtKh U» Company Sale High P'E mil INDUSTRIALS 188 165 A1SB 50* 179 3 56 180 178 43.7 183.6 388 310 ASM 50- 360 16 437 360 344 32.1 1477 8 304 280 Acidchcm 304 8 35 255 250
    2,940 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      71 10 I he Kl. slock market was closed yesterday for Federal Territory Day. The following are Thursday's closing prices. MM FEBRUARY 1991 7 I i «?%?> I I ,'-x %M%4 ~J?s'lg" I TOP JOBS FOR 1991 I RIPE: A VICTIM'S AT?;"-' HI I io I y I i vgJ[W I ■BlcV
      71 words
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      Page 10 Advertisements Column 2
      53 10 Hotel service wars Those frequent flyer programmes SINGAPORE II I rr nn ",7r,, ic mo o T~ I February 1991 monthly •'S* MCI'P; 113'8'90 VOL 15 No 2 -r— l Investment strategies \/X fllthf*!* and choices for coping CjJ II l a J CofomCo CourtfwoMd Trade (SntrV Kensington Park, Tan'gs,
      53 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Stocks hit by arbitrage and concern over Soviet events
      2180 11 TOKYO STOCKS closed lower yesterday after a hectic session drove the Nikkei Index briefly below psychological support at 23,000 in the afternoon. Brokers said arbitrageur sales and concern over the leadership of Soviet President Mikhail Gorbachev triggered the decline. "The Soviet
      2,180 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Market falls 19 points as investors take their profit
      2053 11 Reuter HONGKONG stocks finished mixed yesterday in quiet trade dominated by weekend profit-tak-ing and an absence of fresh buying incentives, brokers said. "There was a lot of two-way trading in blue chips," said Anthony Mak of Citicorp Vickers. "Market sentiment is
      Reuter  -  2,053 words
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  • REGIONAL STOCK MARKETS
    • Australian shares take a tumble
      • Article
        AUSTRALIA
        1000 12 RENEWED fears that the recession will be deeper and more prolonged than expected drove the Australian sharemarket to a sharply lower close. A set of disappointing statistics and comments Thursday from the Federal Government that the Budget surplus would be half the budget forecast sent nervous investors on a
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      • Article
        BANGKOK
        743 12 THAI stocks continued their steady climb out of the doldrums yesterday boosted by a late surge of buying in the finance sector. The SET index finished at 676.86, up 18.39 points from Thursday. Total turnover was 3.4 billion baht with 55,712,057 shares traded. Star Block put on four baht
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      • Article
        SEOUL
        734 12 SEOUL'S stock market closed lower yesterday, recording the lowest daily exchange of shares so far this year. Brokers said most investors continued to take a wait-and-see attitude. The composite index ended the day at 632.53, off 2.87 points from Thursday's close. Volume was 6.8 million shares against eight million
        734 words
      • Article
        TAIPEI
        385 12 THE Taiwan stock index wavered in a narrow range all day, managing to crawl briefly into positive territory before a late round of sell-orders pushed it lower, dealers said. "People are playing a very cautious game, and a lot of people are sitting it out completely," one dealer said.
        385 words
      • Article
        WELLINGTON
        272 12 PROFIT-TAKERS and a weak Australian market pushed the New Zealand share market lower on light volume at the close. "Both markets were due for a bit of profit-taking," Philip Solarz of Doyle Paterson Brown said. He said he expected the market to open soft next week, with more profit
        272 words
      • Article
        MANILA
        484 12 PHILIPPINE stocks yielded to profittaking and slid to end a week-long rally, brokers said. The Manila Stock Exchange composite index lost points to close at Shares defied earlier forecast and sustained the rally on lower interest rates until yesterday, when traders preferred to hold cash during the weekend on
        484 words
      • Article
        Lock icon JAKARTA
        619 12 Reuter POPULAR paper maker Indah Kiat led the Jakarta market at the end of a week which has seen sudden bursts of activity in a handful of shares notably Jakarta International Hotels and some banta brokers said. Volume was 1.89 million shares. The index rose 0.61 to 383.63. A
        Reuter  -  619 words
      • Article
        Untitled
        330 12 Close Previous Feb I SYDNEY All Ordinaries Index 1,301.8 1,321.4 6 All Industrials Index 2,038.5 2,069.2 -30.7 All Resources Index 741.0 -11-2 Turnover (million) 79.48 101.72 -22.24 BANGKOK SET Index 676.86 658.47 +18-39 Turnover! mill ion baht) 3,400 3,648 -248 JAKARTA Composite Index 383.63 383.02 +0.61 MANILA Composite Index 739.10
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  • Optimistic investors give New York a lift
    • Article, Illustration
      NEW YORK
      1120 13 INVESTORS afraid to be left out of the US stock market's rally committed more cash to equities, boosting blue chips by about 0.9 per cent on Thursday. Some positive earnings surprises, optimism about the Gulf war's outcome and hope for a revitalised US economy rallied investors. The market
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    • Article, Illustration
      LONDON
      757 13 UK SHARE prices were mixed yesterday with an easier bias at the opening as the market showed caution after its firm run this week, dealers said. "We are seeing a bit of profit-taking after the gains this week," one trader said. But he said the market undertone remained firm
      757 words
    • Article
      AMSTERDAM
      400 13 DUTCH shares were mixed by yester- day's mid-session after recovering from their morning lows in typically quiet pre-weekend trading. At 1245 GMT the CBS tendency index was unchanged at 80.6 after slipping to 80.2 in the morning as the Amsterdam bourse opened lower in line with other European exchanges.
      400 words
    • Article
      BRUSSELS
      176 13 BELGIAN shares opened mixed to higher in thin, pre-weekend trading with investors returning to the sidelines after the small rally on Thursday, dealers said. Trading volume was worth 99 million francs in early trading, down from 150 million francs on Thursday. Electric utility Electrabel shrugged off the rise in
      176 words
    • Article
      FRANKFURT
      198 13 SHRUGGING of! Thursday's Bundesbank's decision to raise interest rates and resurfaced worries about the Gulf war, German share prices reversed an opening slide to finish mostly firmer in thin trade yesterday. The 30-share DAX index ended up 6.43 points at 1,426.51, near the day's high and at the highest
      198 words
    • Article
      MILAN
      171 13 ITALIAN share prices followed two sessions of gains by slipping back in early trading with profit-taking encouraged by yesterday's decision by the Bundesbank to raise key lending rates half a point. Brokers said the market was not fully convinced by denials by Italian officials that Italy would have to
      171 words
    • Article
      PARIS
      164 13 THURSDAY'S surprise German interest rate rise and Cie Financiere de Paribas's unexpectedly poor 1990 profits held the Paris Bourse lower at midsession, traders said. The CAC-40 blue chip index was off 7.13 points, or 0.45 per cent, at 1,573.54 on light volume at 1200 GMT, with about 730 million
      164 words
    • Article
      TORONTO
      258 13 TORONTO stocks posted sharp gains for a second straight day on hopes the US economy is finally turning around and optimism the Gulf War is proceeding well for the allies, dealers said. Institutional investors filtered into the market to push volumes slightly higher. The composite index gained 24.2 to
      258 words
    • Article
      STOCKHOLM
      97 13 THE Stockholm bourse general index closed higher for the eighth consecutive day on Thursday at a new 1991 high of 966.21, despite falling back from morning highs after the German half-point discount rate rise to 6.5 per cent. Earlier, the Swedish Central Bank said it will cut the Swedish
      97 words
    • Article
      Lock icon ZURICH
      286 13 Reuter SWISS shares opened mostly little changed in very quiet trading, dealers said. They added Wall Street's overnight gains and Frankfurt's recovery in pre-bourse trade this morning balanced out impact of slightly higher short-term interest rates. Yesterday, the German Bundesbank raised key interest rates, prompting speculation Swiss interest rates
      Reuter  -  286 words
    • Article
      Untitled
      389 13 Jan 31 low Prt*io(n NEW YORK Dow Jones 2.736 38 2.713.12 23.26 NYSE Financial 129.77 128 10 1.67 SAP 500 343.93 340 91 +3.02 Turnover (million) 204 2 226.8 -22.6 LONDON Financial Times 30 1.691.9 1.686.5 +5.4 FTSE 100 2.170 3 2.152.6 +17.7 Turnover (million) 831.1 5569 +274.2 AMSTERDAM CBS
      389 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Greenback rebounds in Europe as dealers await US job data
      1235 14 REPORTS THE US DOLLAR recovered from early weakness in Europe yesterday morning with dealers waiting for fresh indications of the US economy's health in January employment data due out later in the day. The US currency, after reeling from a
      1,235 words
    • Article
      Lock icon French and German bond futures are topping out: analysts
      458 14 Reuter FRENCH and German bond futures arc in the closing stages of near-term uptrends and will soon top out at strong resistance levels, say technical analysts, who advise traders to consider closing out long positions. "The bullish trend is still good
      Reuter  -  458 words
    • Article
      Lock icon NZ cuts cash balance target
      180 14 Reuter THE Reserve Bank of New Zealand has reduced the daily cash balance target to NZ$l5 million (S$ 15.95 million) from $30 million as part of a restructuring of the cash market. It described the move as technical in nature. The bank said it would
      Reuter  -  180 words
    • Article
      FINANCIAL FUTURES
      1151 14 SIMEX EURODOLLAR Open High Low Sett Est Vol Op/Int Vot Mar 91 92.95 92.97 92.94 92.96 i000 ***** 9097 Jun 91 93.01 93.02 93.00 93.01 4205 ***** 4507 Sep 91 92.86 92.87 92.85 92.86 957 4523 695 Dec 91 92.56 92.57 92.56 92.57 621 4285 249 Mar 92
      1,151 words
    • Article
      INTERBANK FOREX RATES
      410 14 Cross rates Feb I USS SS MS Dm Yen SFr AS NTS IJSS 1.7280 2.6965 1.4790 131.40 0.5094 1.2590 1.2780 I 6694 S$ 0.5787 1.5605 0.8559 0.7604 0.2948 0.7286 ***** 0.9661 MS 0.3709 64.08 0.5485 0.4873 0.1889 0.4669 0.4739 0.6191 Dili 0.6761 1.1684 1.8232 88 84 0
      410 words
    • Article
      MONEY MARKET
      566 14 Interbank rates ss Hi<] Offer Overnight 4 4 1/4 1-mt>nth 4 1/2 4 5/8 2-month 4 9/16 4 11/16 3-month 4 5/8 4 3/4 Overnight mode: 4-3/8 ISt Kid Offer 7 days 7 7 1/8 1 month 6 7/8 2 months 7 7 1/8 3 months 7 7
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  • COMMODITIES
    • Article
      Lock icon Thailand plans fund to stabilise farm prices
      342 15 Agencies THE THAI government is to set aside some US$32O million (*****.6 million) in a special fund aimed at stabilising farm product prices, officials said. It said that the decision to establish the fund to tackle the slump in agricultural prices on a
      Agencies  -  342 words
    • Article
      Lock icon Poor demand prompts US to cut back release of oil stock
      379 15 AP THE US government is scaling back the release of crude dil from the US strategic reserve, largely because oil companies don't want the inferior grade of oil that makes up the bulk of the emergency stockpile. Plans changed
      AP  -  379 words
    • Article
      Short-covering hardens gold prices in HK
      239 15 REPORTS HONGKONG: Gold closed firmer on cautious early buying, which sparked light followthrough activity, dealers said. Bullion rose to U*****.70/U*****.20 from U*****.10/60 in New York on Thursday and an opening of U*****.30/80. Gold fell HK$23 on the day to end at HK53,424 a tael.
      239 words
    • Article
      Lock icon UK millers may have to seek supplies abroad
      536 15 Reuter BRITISH MILLERS may have to hunt abroad for crop supplies as a tight market caused by farmers switching to more remunerative feed wheat sends milling wheat premiums soaring, traders and industry sources said. October milling wheat is fetching a £26 (S$88)
      Reuter  -  536 words
  • Article
    PRICES
    1408 15 Rubber Fcb_i j RAS (lob hi bate*) S cenis/kg Nkiii l« >•*.• I ill I KSS Prompt I45.0IVI46.00N I4S.25/I46.25N Int I KSS Mar 91 I-Wi.75/147.25 147.00/147.50 In! I RSS Apr 14*00/148 50 148.25/148.75 I ill 2 KSS < >1' I42.75/I44.75N 142.75/144 75N 1.113 RSS or I37.7VI31.75N 137.75/13»>.75N I Int
    1,408 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      11 15 Your search for EXECUTIVE OPPORTUNITIES begins with the EXECUTIVE APPOINTMENTS page
      11 words
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      Page 15 Advertisements Column 2
      697 15 NOTICES NOTICE NOTICE IS HEREBY GIVEN THAT. I Llm Sian Leong of No 8, Mount Sln*i Road, Singapore 1027, have applied tor a Beer House, First Class licence in respect of premises at M/s Kosma Family Restaurant at Blk 848, Yishun Ring Road #01-122 Singapore 2778, and that this application
      697 words
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  • Article, Illustration
    Lock icon Malaysia to lift import ban on steel bars for a limited period
    458 16 Bernama THE Malaysian Ministry of International Trade and Industry has agreed to lift the import ban on specific categories of steel bars for "a certain period" in order to overcome the current shortage, said its minister, Datuk Sen
    Bernama  -  458 words
  • Article
    Lock icon High-level teams to try to overcome impasse in Baltic states
    414 16 AFP SOVIET President Mikhail Gorbachev is dispatching top level ministerial delegations to all three Baltic republics in an apparent bid to break the deadlock in talks between Moscow and the pro-inde-pendence governments there. Mr Gorbachev, who yesterday chaired a meeting
    AFP  -  414 words
  • Article
    Lock icon De Klerk to scrap last of apartheid laws
    384 16 Right-wing Members of Parliament up in arms AFP PRESIDENT Frederik de Klerk yesterday called for the last vestiges of apartheid to be wiped off the South African statute book, prompting calls of "traitor" and a walk out by rightwingers. Mr de Klerk's
    AFP  -  384 words
  • Article
    Lock icon American jobless rate up again in January
    234 16 Reuter AMERICA'S unemployment rate increased for the third month in a row to reach 6.2 per cent in January, its highest level since June 1987, the US Labour Department said. In December the jobless rate was 6.1 per cent. The employment report was
    Reuter  -  234 words
  • Article, Illustration
    It's up to Mexicans now, say S'pore businessmen
    489 16  -  From Magdalene Ng in MEXICO CITY SINGAPORE'S visiting businessmen in Mexico feel it is now up to their Mexican counterparts and the government to lay down the regulatory groundwork in order to encourage more foreign investment and trade links. At a press
    489 words
  • Article
    Japanese buy less foreign securities
    360 16 JAPANESE purchases of foreign securities tumbled 65 per cent from a year earlier to U5539.7 billion (5568.7 billion) in 1990, the lowest level in six years, the Finance Ministry said yesterday. The plunge from US$ll3 billion in 1989 reflected sharply reduced buying of foreign bonds
    360 words
  • Article
    Lock icon Mexico and US trade deal good for Singapore
    187 16 AFP THE proposed Free Trade Agreement between Mexico and the United States would step up trade and development in the Latin American nation, said Senior Minister Lee Kuan Yew. It would also facilitate traffic links between Mexico and Singapore because establishing traffic
    AFP  -  187 words
  • Article
    Lock icon Mid-year upturn for UK economy possible
    168 16 AFP BRITAIN'S "deep and painful" economic recession should end by mid-year in the event of a quick and decisive victory by allied forces in the Gulf war, the National Westminster Bank said in a report released yesterday. Natwest chief economist David Kern said radical
    AFP  -  168 words
  • Article
    Davos business forum opens on a sober note
    455 16  -  By Kenneth James A MAJOR meeting of business and political leaders opened here on Thursday evening on a sober note, with the Gulf War and longerterm economic problems set to dominate discussion among the more than 1,000 participants. The mood at this
    455 words
  • Article
    Lock icon Taipei to open up investment trust sector
    199 16 Reuter TAIWAN plans to open up its investment trust industry, allowing new firms to be established, in an effort to reduce the stock market's notorious volatility. Securities and Exchange Commission officials have completed draft rules under which the new firms will be set
    Reuter  -  199 words
  • Page 16 Advertisements
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      Page 16 Advertisements Column 1
      6 16 CHARTPOINT Every Saturday in Business Times
      6 words
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      Page 16 Advertisements Column 2
      57 16 CHARTPOINT Every Saturday in Business Times I Qotfing Holidays 1 Golf Vacations in Bangkok/Pattaya 4 days 3 nights at da luxe hotel 2 Golf games at Rose Garden/Siam Country Club Free golfers insurance policy for 1 year plus *****.00 prize for Hole-irv-one Minimum 2 persons From *****0.00 per person Daily
      57 words
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  • Executive Lifestyle
    • Article, Illustration
      Chirp chirp
      935 17 Why do people go bird-watching? With time to kill till the nearest karaoke lounge opens, an intrepid nature student crosses into Sentosa and finds life beyond tne bicycle rental kiosks. ONCE in a while, nature calls and you don't have to go to the bathroom. Not if you
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    • STRAWS IN THE WIND
      • Article
        Ticket to wed
        46 17 WHERE's all the romance in this world gone to? At a recent wedding registration ceremony at the Registry of Marriages, one Justice of the Peace quickly went through all the formalities and at the end, told the couple: "You may keep your receipt."
        46 words
      • Article
        Going places
        38 17 IF you're constantly at the mercy of ignorant taxi-driv-ers who don't know the way, look for one cabbie who has this plaque in his car "I never get lost. People always tell me where to go."
        38 words
      • Article
        Loo status
        55 17 IN Hongkong, one tourist merrily stepped into the public 100 at a shopping mall, only to discover that some of the cubicles were reserved "Exclusively for patrons of XXX outlet only". Either they possess some high-tech surveillance system to detect which outlet you patronised, or Hongkong's sense of
        55 words
      • Article
        Lucky leap?
        71 17 APPARENTLY one supermarket is organising some contest where you get a form for every purchase of $30. But one customer wasn't sure whether to try his luck, because the grand draw results are supposed to be published in The Straits Times on Feb 29 this year. Do you
        71 words
    • OPINIONS
      • Article
        Vengeance is mine, says the state of Israel
        893 18  -  With the Gulf war in its third week, Opinions Page this week features commentaries by a political commentator in England, a military historian in Singapore and a BT journalist confessing to be an avid Gulf-war-watcher Neville Stack on how Israel may retaliate
        893 words
      • Article, Illustration
        Lock icon Facing the hard rock of reality
        1552 18  -  The idea of a short, sharp war in the Gulf has already come apart and things now appear to be following the traditional pattern of conflicts in the area. Worse, there is a danger of the allied coalition breaking into two, says Melanie Chew
        Punch  -  1,552 words
      • Article
        Keeping watch from a-far
        865 18  -  Life in Singapore has changed since war broke out, says Soh Tiang Keng Soh Tiang Keng The writer is a BT journalist SINGAPORE has become a nation of avid Gulf war watchers since the launch of Operation Desert Storm on Jan 17, when the Allied Forces
        865 words
      • Article
        Time for unfettered access to the media?
        597 18  -  LETTERS TO THE EDITOR Ranjit Gill THE war in the Middle East has prompted SBC to provide extended coverage of ongoing developments, coverage which supersedes that of even World Cup football. This prompts me to wonder whether the time has not come for
        597 words
      • Article
        Adjust housing loan interest rates, please
        148 18 I TOOK a housing loan in January 1989 from DBS Bank with an interest rate of 5.55 per cent. The prevailing prime lending rate then was 7 per cent. In January 1990, the PLR was raised to 7.25 per cent and my housing loan
        148 words
      • Article
        Effort made to update listings
        64 18  -  Ms Teo Poh Wah Corporate Communications Officer Singapore Telecom WE refer to the letter "Phone Book Needs Updating" (BT, Jan 19-20). There have been some difficulties encountered in the updating of the section under reference. Every effort is being made now to keep the listings
        64 words
      • Article
        Information was incorrect
        49 18  -  D W Distant ON Saturday, Jan 26 1991, SBCText page 266 listed Tokyo's most active stocks for Friday, Jan 25, as Renong, Idris, K Emas, Telekom, UE (M) etc. Could a check of some sort be introduced to ensure such wrong information does not get transmitted?
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    • SPORTS
      • Article, Illustration
        S'pore moves up six notches
        628 19  -  Dunhill Cup By Cassandra How AS the spectators held their breath on the 18th yesterday, Bill Fung of Singapore calmly putted his sth birdie for the day's second lowest score. With his 3-under 67 and Lim Swe Chew's even-par7l, Singapore moved six notches up to
        628 words
      • SIDE LINES
        • Article
          American Zone of Davis Cup begins
          96 19 TOP-RANKED Luiz Mattar of Brazil and Carlos di Laura of Peru opened the American Zone round of the Davis Cup yesterday. The pairings for the five-match series were determined at a drawing on Thursday. In the second singles match, Jaime Oncins of Brazil will
          96 words
        • Article
          FIFA clarifies rule
          94 19 FIFA general secretary Sepp Blatter said on Thursday that a player who commits a professional foul anywhere on the pitch must be sent off. Blatter also said that national soccer associations must stop giving referees instructions based on their own interpretations of the controversial nale. "We will
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        • Article
          Pajot pulls out from Cup effort
          76 19 MARC PAJOT, who skippered the French challenger in the last America's Cup yachting series in Australia four years ago, has pulled out of the French syndicate he helped put together for the 1991 regatta. Pajot and his race tactician Marc Bouet were apparently at
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        • Article
          Ski gold for Switzerland
          85 19 THE COWBELLS are clanging again. Chantal Bournissen revived memories of Swiss dominance in women's skiing by winning the World Championships combined event on Thursday to end a dry spell for her nation. Meanwhile, Austrian team officials announced that star Petra Kronberger would miss the last two
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        • Article
          Johnson making a comeback
          53 19 BEN JOHNSON'S former coach said the Canadian sprinter is on a comeback course and will do well in the World Indoor Championships. "I'm counting on him improving," Loren Seagrave said on Thursday. "He's clipped off most of his race rust. 1 feel good about the way
          53 words
        • Article
          Wolleck first at Daytona trials
          89 19 EXPERIENCED French ace Bob Wolleck produced the fastest time in tne first trials for tomorrow's Daytona 24-hour classic when he lapped the famous 5.7-km track in his Porsche 962 in 1 min 37.87 sees an average speed 0f186.6 km per hour. The 47-year-old Wolleck, bidding
          89 words
      • Article, Illustration
        Struever: Making his mark on the world's golf courses
        705 19  -  A rising young pro is in the making in Germany. Here in Singapore for the first time, Sven Struever talks to Cassandra How Cassandra How HE picked up his first club when he was barely four. Not that he was being
        705 words
      • Article
        Lock icon Standly takes control at Pebble Beach
        301 19 AP WHILE some of golfs grander names were trying to solve the puzzles of Poppy Hills, an obscure rookie took control of the Pebble Beach National Pro-Am. Mike Standly, who last year at this time was competing in the first Ben Hogan Tour event
        AP  -  301 words
      • Article, Illustration
        Lock icon Trevino recommends running to keep fit
        434 19 AP LAST year, Lee Trevino could've stayed in shape just by walking to the bank to cash first-place cheques. But Trevino, who defends the first of his seven 1990 Senior Tour titles starting yesterday in the Royal Caribbean Classic, recommends running as the best
        AP  -  434 words
    • EPICURE
      • Article, Illustration
        Marvels of Moghul
        694 20  -  Quek Swee Peng discovers dum pukht, the Indian clay-pot style of cooking that dates back to the 1780s Quek Swee Peng The absence of crudelv-made curries might have aroused the curiosity of the 500 diners attending a royal Moghul feast at the Hyatt Regency on Thursday night.
        694 words
    • LIFESTYLE 1
      • Article
        Lock icon Italy's bitter amari — a drink to top off a lusty meal
        561 21 Italy's bitter amari a drink to top off a lusty meal NYT AN old Italian proverb states that people are not what they eat, as some philosophers proclaim, but how well they digest. This clarification emphasises the fact that digestion is a vital issue among Italians, second only, perhaps, to
        NYT  -  561 words
      • Article, Illustration
        Elimination play
        549 21  -  BRIDGE By Sybil Holloway TODAY'S deal, which turned up during the 1989 European bridge Team Championships held in Poland, gave the E/W pairs no problem to reach the 4 H contract. However, one of the declarers seemed to have found the winning line of play. After North's opening
        549 words
      • Article, Illustration
        In search of good food and good wines
        899 21  -  In Geneva, N K Yong finds a treasure trove of wines when he gets off the beaten track N K Yong Talking about wine means talking also about food, for the two arc as inseparable as Siamese twins. For the wine-lover, Europe
        899 words
      • Article, Illustration
        Lock icon Rap, hot and white
        1461 22  -  In black rap territory. Vanilla Ice is white, and hot. James Bernard traces his rocket ride to the top. James Bernard NYT Everyone seems to hate Vanilla Ice except the seven million or so fans who ignited his rocket ride vtp the top of the pop
        NYT  -  1,461 words
      • Article, Illustration
        Two women, and lots of problems
        668 22  -  An uneven play, but honest, writes Jaime Ee, in her review of Necessary Stage s Boxes Jaime Ee, TS A GOOD THING that p j Boxes wasn't a play about •;i two women aspiring to be co--partners in a moving agency Elvira Holmberg can't
        668 words
      • Article, Illustration
        Lock icon Nightmare from a dream marriage
        898 22  -  Susan Linfield reviews 'Sleeping With the Enemy', a film about a marriage so bad the wife fakes death to escape it Susan Linfield NYT THERE are bad marriages, < and then there are bad t marriages. Joseph Ruben's new thriller, "Sleeping With the Enemy", is
        NYT  -  898 words
    • PURSUITS
      • Article, Illustration
        Seeing Europe on a shoestring
        1507 23  -  Armed with a bottle of ketchup, Rahita Elias hops onto a train that brings her around Europe on the cheap Rahita Elias THIS IS a story about cheap people. Cheap travellers who would rather lug a bottle of ketchup around Europe than pay up to
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      • Article, Illustration
        Lock icon Keeping tabs on collectibles
        1222 23 Interest in art collecting surged in the 80s. Now, falling prices of collectibles are threatening a rejig of the mix of buyers. ►C *CllUlllg tliv VTl\j The Economist. TO COLLECT nothing at all is to descend below the level of magpies and marmots," wrote Gerald Reitlinger,
        ►C *CllUlllg tliv VTl\j The Economist.  -  1,222 words
      • Article, Illustration
        The glamour of the glitterati
        339 23 HISTORY has proven that investors are inclined to put their money in jewellery when they detect signs of an economic downturn and a recession. Often, auctioneers and dealers of jewellery in the major cities of Geneva, New York and London claim good sales in the
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    • PERSONAL FINANCE & INVESTMENT 1
      • DON'T QUOTE ME!
        • Article
          He's not taking this charge lying down
          162 24 BARRING any last-minute developments, Dicky Iskander Di Nata of Bank Duta fame will appear in a Jakarta court today on a stretcher. The man who faces charges concerning the bank's US$42O million (*****.4 million) foreign exchange losses is said to be too ill
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        • Article
          Good may yet come out of bad
          151 24 ONE must give credit to Hongkong hoteliers for their gumption in trying to turn every bad situation to their advantage. With occupancy adversely affected by the Gulf war, the Hongkong Hilton has come out with a new gimmick it is offering a 45
          151 words
        • Article
          Home away from home
          67 24 FOR Singapore hoteliers, the Gulf war is not all bad news. We are told that a few hotels actually gained some guests when the war broke out on Jan 15. These guests are businessmen from Saudi Arabia and other Middle Eastern countries who are stranded in
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      • Article, Illustration
        There's still steam in that rally
        568 24  -  CHART By Najeeb Jarhom Najeeb Jarhom is research manager of Fraser Roach Co INVESTORS who are concerned that the latest rally is getting a bit euphoric may be glad to know that the Straits Times Industrials Index is very much a laggard compared with
        568 words
      • Article
        Warrants: premiums and gearing
        676 24 Prices (isal 31.1.91) Conversion terms SsJountl Exp<rY Amount I I udng ZS&, <*» e» [S I 6 1 r»B° yallM _S CACWt 37.5 1.180 3.460 1.00 3.09 23 293 26 4.93 26 Causeway inv 7.2 0 250 0.680 0.775 1.00 0.77 0.77 50 25 2.72 20.10.94
        676 words
      • Article, Illustration
        SIA stays ahead of the pack
        1020 24  -  While other airlines are struggling to keep afloat, SIA seems better positioned to survive the Gulf war. Loretta McLaughlan explores why SIA is holding up better than the rest Loretta McLaughlan THE WORLD'S airlines have come under such heavy strain because of the Gulf
        1,020 words
      • Article
        Commitment to ERM boosts sterling
        962 24  -  Interest rates should not be eased just yet, says Alan Budd Alan Budd Projessor Alan auaa is economic adviser to Barclays Bank pic INCREASING confidence within the market over the UK authorities' commitment to the Exchange Rate Mechanism (ERM) has given sterling a generally firmer
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      • Article, Illustration
        Even early end to war not bullish: Fuller
        602 25  -  Prospects for stock markets do not look very exciting, according to David Fuller. But he sees promise in bonds and the Japanese yen. S N Vasuki reports S N Vasuki DAVID Fuller is not optimistic about the prospects for stock markets worldwide.
        602 words
      • Article
        When the owner of a policy is not the life assured
        799 25  -  COVER By Alan Street Professor Street is with the Nil. This article was contributed by the Life Insurance Asstx iation of Singapore A LIFE insurance policy is a contract made between the insured (the owner of the policy) and
        799 words
      • Article
        M'sian property market slows down
        584 25 High interest rates and slow demand are beginning to hurt the Malaysian property market, says a research firm Malaysia's property market, which until recently was in the pink of health, is showing signs of being dragged down by slowing demand and high interest rates, says
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    • JOBS
      • Article, Illustration
        Scaling the corporate heights
        1268 26  -  Climbing one corporate hill after another, Alex Chan has now reached a new pinnacle as the managing director of Hewlett-Packard. HanshMehta and Claire Leow profile the fast-rising corporate star. Harish Mehta,Claire Leow Running for political office is not on Alex Chan's agenda just yet. Running Hewlett-Packard
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      • Article, Illustration
        EXECUTIVE MOVES
        451 26 MR GEOFFREY YEOH Seng Huat has been appointed the First Vice-President and Head of the Corporate Banking Division in the Commercial Banking sector of the United Overseas Bank Group. He has previously worked with an American bank where he held various senior appointments in its offices in Jakarta,
        451 words
    • THE TRAVEL PAGE
      • Article
        AIRCRAFT ARRIVALS AND DEPARTURES
        908 27 City FNftrt ETA Flight ETO fcMaMa SQ228 1910 Qf82 Qf81 human RJ83 0350 AmtortUm SQ23 1345 KL838 2150 KL837 1505 SQ24 2215 0015 Aacklaad NZ21 1720 NZ22 1830 SQ338 2030 BA12 2155 0915 Baadar Swi BI421 1105 SQ182 0915 hpm SQ181 1410 BI422 1205 BI429 2030
        908 words
      • Article, Illustration
        Where life begins after sundown
        543 27 LETTER FROM MADRID "Nobody goes to bed in Madrid until they have killed the night." enthused Ernest Hemingway. "In no other town I have lived in. exeept Constantinople during the period oj Allied occupation, is there less going to bed for sleeping purposes." YET another
        543 words
      • Article
        MONEY CHANGER RATES
        142 27 As at 3pm yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.3400 1.3600 Canadian dollar 1.4690 1.4890 NZ dollar 1.0250 1.0650 Sterling pound 3.3750 3.3950 US dollar 1.7235 1.7335 Local dollars to 100 units of foreign currency Austrian schilling 16.30 17.30
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      • Article
        WORLD TRADE EXHIBITIONS
        88 27 Duration Title Venue Organiser Tel Duration Title Venue Organiser Tel Feb 4-9 International Netherlands Koninklije (31)30/*****1 Eshibi"^* 10 6 GmbH Building Nederlandse Feb 13-17 International Spain Feria Zaragoza (34)76/*****0 Construction Jaarbeurs Water Fair Exhibition Feb 7-12 International Valencia, Feria Muestrano ********** Feb 19-21 Air Traffic Holland Expoconsult
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    • TIME OFF
      • Article
        THEATRE
        68 28 SSO Familiar Favourites Conductor: Lim Yau. Programme includes pieces from Mozart (Die Entfuhrung aus dem Serail Overture), Hayden (Symphony No 100), Prokofiev (Lieutenant Kije), Stravinsky (Three Dances from Pctrushka), arr Rea (Bee Gees Medley) Victoria Concert Hall, at 8.15pm. Today only. The Flying Karamazov Brothers Known for their outrageous
        68 words
      • Article, Illustration
        EXHIBITIONS
        408 28  -  Compiled by K Jayanti Theme Exhibition Concept covering the vast range of authentic tribal and ethnic arts of South-east Asia. On display will be recent works by German artist, Rcgina Hcllwcger. The works are in oil, gouache and acrylic on canvas and rice paper. Tatiana Gallery, 185 Upper Paya
        408 words
    • Article, Illustration
      CINEMA
      620 28 Child's Play 2. And you thought Cabbage Patch dolls were ugly. Here comes Chucky, the diabolical little doll that not only has his own identity, but his own way of killing people he doesn't like as well. Slick but tiring sequel. Capitol: 11; 1.30; 4; 6.30; 9.15. Changi 1:
      620 words
  • Page 17 Advertisements
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      Page 17 Advertisements Column 1
      137 17 D -ml r f V^T^rj^ 1 |-Y '^fep [Hf f i SINGAPORE: Burberry* Stoop-ln-Shop: DAIMARI' DfS Orchard DFS Claymore HALLEY'S ISETAN Havelock ISETAN Orchard NAN HEN LEATHER GOODS R£GENT STREET, Palais Renaissance SOGO Aujiorixd Dcalcn: EJ BENJAMIN Changi Airport Jl RONG CROCODILE PARADISE LEATHER LODGE MIDORI ORIENTAL PARADISE SCOTTS WEITNAL'ER
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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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      1217 20 WHERE TO WINE, DINE AND ENTERTAIN WHEBE TO WINE, DINE AND ENTERTAIN WHERE TO WINE, PINE_». Have Poolside "BBQ Buffet" Under the Sum! "all J you'Can-eat" Barbeque Available only on fine weather I Steamboat Buffet* i So head for Sky Garden Poolside where you get more than your fair share
      1,217 words
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      Page 21 Advertisements Column 1
      194 21 AND ENTEBTAIN Brunch Is A Family Affair Every Sunday. Sunday BRUNCH: hamto2JOPM. ADULTS MM Mm t' $31.00 J|B mKE children $i 9.00 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. A ANA HOTEL
      194 words
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      Page 21 Advertisements Column 2
      7 21 MAPPING OUT YOUR CAREER! Read EXECUTIVE APPOINTMENTS
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      855 25 jr jT FOR Jl GOOD FORTUNE A PROSPERITY J&Jrir DEPOSIT WITH HONG LEONG FINANCE SINGAPORE FINANCE HOME ONE OR MORE OF MORE FREE GIFTS 4*oB ITEMS 12 n, mmrscffT items* Better More Prizes In Our Grand Lucky Drau ssi.oao ssijnc Rnck« u«ia a t«» jsiwo SSMW Tjkf hnfrtr, XO. VSOPando,
      855 words
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      Page 26 Advertisements Column 1
      402 26 BUSINESS TIMES TELEPHONE: 730-59 3 7/5902/5942 FAX: 734-4982 I Finance I^^ Administration I Manager I We are a leading Japanese trading company in audio and video products H worldwide. Our sales office in Singapore is now seeking the appointment of a H I FINANCE ADMINISTRATION MANAGER to provide management with
      402 words
    • Advertisement
      Page 26 Advertisements Column 2
      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 distribuHillblom and Lind who
      148 words
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      Page 27 Advertisements Column 1
      43 27 Bud, youll be a lot wiser when you learn about Flnnair's New York route. A superb twice-weekly service from Singapore direct to Helsinki and a daily connection non-stop to the Big Apple. Call *****77 for details. We know Europe from start to Finnish.
      43 words
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      Page 27 Advertisements Column 2
      6 27 Managers must manage, BT every Monday
      6 words
    • Advertisement
      Page 27 Advertisements Column 3
      60 27 An ex-bodyguard of Saddam, Hussein tells all about the cold-blooded murder of a Presidential aide who doubted K* Remember Pamela Bordes? The girl who rocked Britain's 1 Not as a model, hut something v else. See her at work. RI?BIPwSH The latest news V, J jflj| And much more k
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  • Page 27 Miscellaneous
    • Miscellaneous
      Page 27 Miscellaneous Column 1
      245 27 I 1 Very brief reconsidera- JH J^| 9 Asked earnestly as naughty *****11 I 1 1 1 child accepting a new role TBT on day one(8) 10 More melody from the pi- 12 ano repairerl(S) HH mh 12 Bad drop- Hi 13 Mark gets protection first 16 Vigour of some
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    • Miscellaneous
      Page 27 Miscellaneous Column 2
      170 27 World forecast Asia-Pacific Hi/Lo* Cond. Auckland 25/19 Windy Bangkok 32/20 Fair Beijing 04/-3 Sunny Brunei 29/24 Showers Hongkong 17/12 Sunshine Jakarta 29/23 Showers Kuala Lumpur 33/23 Fair Manila 31/21 Fair Melbourne 30/20 Sunny Perth 37/21 Hoi Seoul 03/-4 Fair Sydney 33/22 Sunny Taipei 15/12 Windy Tokyo 08/-1 Sunny Wellington 24/17
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    • Miscellaneous
      Page 27 Miscellaneous Column 3
      64 27 (DO Rer>€roS€:R IT TOOK mctujo UJHOLG. JONES -T DON'T IORHT NO. (aTId DG>3 J C*YS— HotDOK emßßßßf\ss vov BUT Tji^- O^ NN V oust fr*\y DO vou TUO I P; J J DfcYS \H THE. toVM LONDON J r Oa. Hj 1 U v n Jr? «5 £ii ©i >
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  • Page 28 Miscellaneous
    • Miscellaneous
      Page 28 Miscellaneous Column 1
      1685 28 TODAY'S TV Centre (Birthday Bonan- out ways to live together stereo). Asa 725 Cultural Diary. 'hem arc 7 'm Nm (MJ. h' v positive Driving School, 3.45pm, SBC 5 Pio, 12.30 SSL tL Wai IJ* SJSSS* It s tough being a driving in- pm, »w,3 —-w -*w I reo). 1.35
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    • Miscellaneous
      Page 28 Miscellaneous Column 2
      617 28 MOVIES ON TV The Magnificent Ambersons, in the late 70's and early Mon, 10.30pm, SBC 12 80's), plays a young senator Just when you thought Citi- finds himself having less zen Kane and Paul Masson time for his family and more wines (We will sell no wine time for an
      617 words