The Business Times, 9 March 1991

Microfilm: NL17466
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, March 9-10 1991 75*
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  • NEWS & MARKETS SUMMARY
    • Article
      Martial law in Thailand to continue: General
      63 1 THAILAND'S military leader General Sunthorn Kongsompong said yesterday that martial law, in force since his troops ousted the elected government nearly two weeks ago, would not be lifted until peace was restored. He added that deposed premier Chatichai Choonhavan, in military custody since
      63 words
    • Article
      Dow higher
      38 1 NEW YORK blue chips held firm yesterday but cut the early advance in mid-morning trade as investors consolidated gains. The Dow 30 average was up about 11 to 2,974 after spurting to about 2,989 early on.
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    • Article
      Footsie higher
      33 1 SHARES had another morning of strong advances in London yesterday. At 1225 GMT, the Footsie index of 100 leading shares stood at 2,469.4, 31.7 points above its closing level on Thursday.
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    • Article
      COE biddings up
      31 1 THE END of the Gulf War saw a rise of about 23 per cent in the number of bids for next month's vehicle Certificates of Entitlement Page 2
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    • Article
      Smooth sailing
      31 1 SINGAPORE Shipbuilding and Engineering Ltd has more than doubled its after-tax profit to $12.83 million from 1989'5. It expects to sustain the profits for the current year Page 3
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    • Article
      Mark its words
      22 1 THE GERMAN government will spend 12 billion German marks to rehabilitate eastern Germany's ailing economy this year Page 7
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    • Article
      Gatt lost
      20 1 JAPAN is against the American move to bring their dispute over interest rate deregulation to Gatt Page 5
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    • Article, Illustration
      STOCK INDICES
      28 1 Friday Change BT-MGA 744.56 -3.02 Kuala Lumpur ....601.30 +1.49 Hongkong 3,653.19 Tokyo 26,607.52 +209.56 Sydney 1,415.6 +3.3 Thursday Change New York 2,963.37 -9.90 London 2,437.72 -22.2
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    • Article
      CURRENCIES
      19 1 Exchange rates USJ SSI.7440 100 Yen SSl.2781 MS SS0.6382 Money market rates Overnight 2 -2-3/8 3-month 4-5/8% -3/16
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    • Article
      COMMODITIES
      39 1 London Gold AM fix US$367.50 -US$1.25 Rabber S-pore Apr l46.25«/kg +0.50 M'sia Apr 227 50«/kg +0.50 KL Tin Turnover 37 tonnes -8 Spol MS 14.91 /kg unch Crude palm oil Turnover 658 lots -456 Mar MS865 /tonne 5
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  • Article, Illustration
    Lock icon Khamis arrested under Companies Act
    513 1  -  Marina Village developer released on $30m bail By Amy Balan, Claire Leow MARINA Village developer Elyamani Khamis was arrested late last night under the Companies Act. He was released after two friends posted bail of $30 million. Mr Khamis must turn up at the Commercial
    Photo by Wong Kwai Chow  -  513 words
  • Article
    Lock icon US jobless rate highest since 1986
    126 1 Reuter THE United States unemployment rate surged to 6.5 per cent in February, the third consecutive monthly rise, the Labour Department said in Washington yesterday. The jump was the highest monthly increase since 1986 and showed that the recession was still severely disrupting the
    Reuter  -  126 words
  • Article
    STII down in flurry of profit-taking
    154 1 SINGAPORE STOCKS closcd mixed amidst heavy trading as profit-taking alternated with bargain hunting yesterday. The ST Industrials Index lost 6.34 points to close at 1,506.23 as investors booked profits in blue-chip counters and rcploughcd them in lowpriced shares. Consequently, advances led declines by a
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  • Article
    Successful women urged to support others down the line
    219 1 WOMEN should support each other in their climb up the corporate ladder, says Minister of State (Community Development and Education) Dr Seet Ai Mce. Speaking yesterday at the launch of a new women's group, Dr Seet said successful women in business,
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  • Article
    Rupiah depositors unshaken by devaluation rumours
    267 1  -  By Chew Eng Han THERE HAS BEEN little evidcncc of panic in Singapore among rupiah depositors despite recent rumours of a devaluation. The recent liquidity squeeze by Bank Indonesia, which has forced interest rates up substantially, is a signal to the market that the
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  • Article
    Lock icon Jakarta prepares to open commodity futures market
    190 1 Reuter INDONESIA, one of the world's largest commodity producers, is preparing to start its long-heralded commodity futures market this year. The government has almost completed regulations allowing futures trading, considered by many of its Muslim majority as gambling and contrary to Islamic teachings.
    Reuter  -  190 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      119 1 Nikon TtwWfbrid't Finest Photographic System. COVER The Mother of All J Plays Aircraft Schedule El 11 Commodities 15 Company News 3.4 Cryptc Crossword ft 11 financial News 5 Futures Options Gold Prices M Home News 2 HK lokyo Slocks Interbank Eorex Rates M KISE 10 Money Changer Rates EL 1
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      Page 1 Advertisements Column 2
      15 1 OPINIONS Iraq: People power cannot count. EL 2 Is this your country and home? EL2
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      Page 1 Advertisements Column 3
      25 1 LIFESTYLE A Costner experience. EL 6 Aspects of failure. EL 5 Rise in US jobless claims, l*g 7 Bright future for female managers, EL 10
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      Page 1 Advertisements Column 4
      240 1 PURSUITS On a slow H 11 The movement of a watch is dust, dirt and water. It provides Rolex Oysters have climbed its heart. Precious. Delicate. For a totally secure protection for the highest mountains, dived to centuries craftsmen have striven the precision Oyster movement. the depths of the oceans
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      Page 1 Advertisements Column 5
      21 1 Nikon Th« Wbrid't FlnMt Photographic System. FINANCE Tax incentives: shareholders the big gainers. EL 8 Properties still look bright EL 8
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      Page 1 Advertisements Column 6
      15 1 JOBS A venture into Myanmar. EL 10 Currency speculation in Indonesia under control, Pg 5
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        STPB's video wins prestigious award
        71 2 THE Singapore Tourist Promotion Board's marketing video. The Four Faces of Singapore, has won the prestigious Golden Compass Gold Award at the Internationale Tourismus Borse (1TB) the world's largest travel trade fair held annually in Berlin. The 11-minute video was judged on information value, artistic
        71 words
      • Article
        Six US F-16s for joint exercise
        74 2 SIX F-16 fighters from the United States Air Force (USAF) arrived at the Paya Lebar Airport yesterday afternoon for a joint exercise with the Republic of Singapore Air Force. The fighters arc from the USAF's 13th Tactical Fighter Squadron based in Japan. This is
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      • Article
        CNN telecast to continue
        56 2 THE SINGAPORE Broadcasting Corporation will continue with its telecast of CNN international news on a reduced basis for another three months. SBC's decision was in response to requests from the financial community. From Monday, CNN viewing hours will be between 7am and 8.30 am; and between
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      • Article
        Real estate congress in May
        70 2 THE 42nd World Congress in Real Estate will be held in Singapore from May 26 to May 31. Some 3,000 industry professionals are expected to participate in the conference as delegates, exhibitors and visitors. The event, to be called FIABCI '91, will be organised by
        70 words
      • Article
        Towards total quality service
        46 2 THE Central Provident Fund Board has taken another step in its Total Quality Service Programme first introduced in 1989. All counters at the Board's main office and branch offices will now be manned by specially trained staff known as Customer Service Officers.
        46 words
      • Article
        President of Djibouti visiting
        36 2 THE President of Djibouti, Mr El-Hag Hassan Gouled Aptidon, yesterday paid a courtesy call on President Wee Kim Wee. The visiting dignitary met President Wee at noon at the Istana State Room.
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    • Article
      Rise in number of bids for next month's COEs
      363 2  -  By Selva Kumar AS EXPECTED, the end of the Gulf War saw a rise in the number of bids for next month's vehicle Certificates of Entitlement (COEs) but dealers were cautious about forecasting a corresponding increase in the demand for cars.
      363 words
    • Article
      Tay Eng Soon to head Design Council
      226 2 SENIOR Minister of State (Education) Dr Tay Eng Soon has been appointed chairman of the Design Council. He heads the advisory body for national design promotion and development which has II others in the team, comprising professionals and educators in the design field,
      226 words
    • Article
      Two US firms open technical centres
      188 2 TWO AMERICAN companies have opened technical centres in Singapore to service their customers in the region. Instron Singapore Technical Support Centre is the regional support centre for Instron Corporation's clients in the Asean and Burma region, and is fully equipped to provide sales, technical
      188 words
    • Article
      Legal service to recruit Justices' Law Clerks
      249 2  -  By Harish Mehta THE LEGAL service is on a recruitment drive for Justices' Law Clerks, a new post aimed at further boosting the productivity of Judges and Judicial Commissioners. This move is in keeping with the Chief Justice's rcccnt suggestion that the productivity
      249 words
    • Article
      Continued growth in life insurance industry
      170 2 THE LIFE insurance industry continued to show steady growth last year, with total new premiums standing at $285.8 million, an increase of 13.5 per cent over 1989. With some 1.06 million group and individual policies in force covering 1.75 million people, that means one
      170 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      522 2 Vessel WeyMe ftrth UrM Deptwe I Vmd Vey No Berth Arrival Ogegpe Keppel Wharves Dtra Jaya *****1 M1B 0903/1000 0903/2300 8 Setawar PG037 K29 alongside 08 03/1830 Kalimantan 1 8/91 M2C 0903/0700 0903/2300 Kebon Karet 7/91 K33 alongside 08.03/1500 San Batam S45 M28 0903/0900 0903/2300 Sefci Aketshi
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    • Article
      CONTAINER SCHEDULE
      1435 2 RECEIVING OF EXPORT Fa CONTAINERS AND LCL CARGO Record Booking/Balance Rstts Ship Voy No Etb/Btr Period From To From Aka Bnum 471N 10/1600 1 08/1500 08/1659 08/1900 3 09/0700 09/1159 09/1400 4 09/1200 09/1459 09/1700 All. Fortune ***** 11/0700 2 08/1700 09/0659 09,0900 4 09/1200 09/1459 09/1700 BAngsaia
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  • SINGAPORE – MALAYSIA COMPANY NEWS
    • Article, Illustration
      Singapore Shipbuilding doubles after-tax profit
      508 3  -  By Selva Kumar BOOSTED by the delivery of four missile corvettes to the Republic of Singapore Navy (RSN). Singapore Shipbuilding and Engineering Ltd (SSE) turned in a set of solid results for last year. After reporting a more than doubling of its after-tax profit to
      508 words
    • Article
      OCBC finance subsidiary reports poorer second half results
      346 3 FOCAL Financc, the public-ly-listed finance subsidiary of OCBC bank, failed to sustain its impressive first-half performance and had to be satisfied with a poorer second half. Its directors also warned shareholders in the notes to the results that in line with the
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    • Article
      How long will Acma shares stay frozen?
      647 3  -  THE HOCK LOCK SIEW COLUMN By Lee Han Shih AMONG the frustrated people who have missed the current explosive stock market rally must be the one thousand or so minority shareholders of Acma Ltd. For more than a week, they have watched the
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    • Article, Illustration
      A cross-section of financial industry represented
      295 3  -  DBS CHARITY INMESlMlNilißiijiEl By Quak Hiang Whai SIX FINANCIAL institutions representing a cross-scc-tion of" the financial industry have signed up for the DBS Charity Investment Race. In a statement yesterday, the ehairman of the organising committee. John Curran said: "The fact that the race
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    • Article
      Tsang & Ong plans to do one better
      342 3 Tsang Ong plans to do one better TSANG Ong Stockbrokers. which has signed up for the DBS Charity Investment Race, can boast of being the only team to have emerged within the top two positions in the last investment race held in Singapore. The local stockbroker picked up the second
      342 words
    • COMPANY BRIEFS
      • Article
        Landmarks aims to list UBN Holdings
        208 3 LANDMARKS Bhd. whose shareholders approved its acquisition of a 50 per cent interest in ÜBN Holdings Sdn Bhd in Kuala Lumpur yesterday, intends to list the company on the Kuala Lumpur Stock Exchange. Landmarks chairman Mohamed Razali Abdul Rahman said. He told newsmen after
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      • Article
        Hour Glass shares sold
        75 3 PRUDENTIAL Asset Management Asia has sold 2.5 million shares in The Hour Glass for $2.3 million, reducing its stake from 15.62 per cent to 11.46 per cent. In mid-January this year, the company sold 500.000 shares for $450,000, or 90 cents a piece. On Tuesday, another
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      • Article
        OCBC Bank goes to Seoul
        62 3 OCBC Bank will open a branch in Seoul, South Korea, on Monday. The new branch will provide a wide range of financial services, including the arrangement and extension of loans and advances, and guarantee facilities; trade financing: and the acceptance of deposits. Mr Ong Geok
        62 words
      • Article
        Eu Yan Sang's sixth store
        55 3 EU YAN SANG has opened its sixth store in Malaysia as part of an expansion programme aimed at increasing the company's market share in the retail sector of the Chinese medicinal herbs industry. The new store in Petaling Jaya was purchased and renovated at a
        55 words
      • Article
        Summa proposes share scheme
        78 3 SUMMA Investment Ltd said yesterday that it is proposing an executives' share option scheme to be called Summavest Executives' Share Option Scheme. The aim is to enable executives of Summavest and its subsidiaries to participate in the equity of the company. In a separate development, Summa
        78 words
      • Article
        UEM seen as long-term buy
        114 3 UNITED Engineers (M) Bhd. expected to feature prominently in the rapid expansion of the Malaysian infrastructure and construction sectors, has been recommended as a "strong long-term buy" by SJ Securities Sdn Bhd. The stockbroking firm said the company's involvement in other areas such as transportation
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      493 3 Singapore Shipbuilding Engineering Limited (Incorporated in the Republic of Singapore) The Directors of Singapore Shipbuilding A Engineering Limited advise the following audited results of the Company tor tie year endsd 31 December 1090: If># %w> SS'OOO Ssooo Turnover 335.460 60.620 453.3 Operating profit and other income 10.732 1.000 465.1 Netintorest
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  • COMPANY NEWS
    • COMPANY BRIEFS
      • Article
        Watson to expand retail operations in China
        82 4 THE AS WATSON Group plans to expand its retail business in China to tap the growing consumer power in the country. The Hutchison Whampoa subsidiary, with its retailing trio of Park'N Shop, Watson's and Fortress, plans to open two more supermarkets in Shenzhen
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      • Article
        Japanese, French firms in tie-up
        116 4 OSAKA-BASED textile maker Unitika Ltd, Dollfus Mieg et Cie (DMC) of Paris and French state-owned finance company Socictc de Development Regional (SDR) will form a joint company in France to make and sell polyester textiles, a Unitika spokesman said. Inoseta SA, to he set up
        116 words
      • Article
        Daewoo's coaches for Burma
        96 4 SOUTH KOREA'S Daewoo Heavy Industries Ltd, an affiliate of the Daewoo Group, will ship US$2O million (5534.8 million) worth of railway coaches, freight wagons and their parts to Burma this month, a Daewoo spokesman said. Daewoo Heavy will transfer know-how for producing and assembling coaches and
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      • Article
        US exchanges seen forming ties
        79 4 US STOCK exchanges, many of which have been exploring tics with overseas markets, arc likely to form various domestic links, Lee Korins, chairman of the Pacific Stock Exchange, said. The Pacific Stock Exchange is just one of the US exchanges that has said it seeks
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      • Article
        No investment problems for VW
        92 4 GERMAN mass car manufacturer Volkswagen AG said it expects no problems financing its massive investment programme, which includes major new projects in Eastern Europe, Spain and China. Late last year Volkswagen said it would spend 9.5 billion marks (5510.6 million) over the next 10 years
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      • Article
        Court rules in Apple's favour
        52 4 At»PLE Computer Inc said the US District Court in San Francisco has denied motions from Microsoft Corp and Hewlett-Packard Co in Apple's copyright infringement suit against the two companies. The court also upheld Apple's claim that its Macintosh computer's audio-visual displays arc original to Apple,
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    • Article
      Lock icon Action against Ssangyong may not halt abuses
      610 4 Reuter SOUTH KOREA stock market traders cheered when securities authorities scolded a local market manipulator this week, but they wonder how far the example will go to stopping an abusive practice some say is widespread. This week securities authorities issued an official warning
      Reuter  -  610 words
    • Article, Illustration
      Lock icon Big shake-up in Indonesia's giant tin mining firm
      271 4 AFP INDONESIA yesterday replaced all but one of the directors of the giant state tin mining firm PT Tambang Timah as part of its move to shake up and streamline the company in the face of lower tin prices. Mines and Energy
      AFP  -  271 words
    • Article
      Lock icon Judge blocks settlement of suits against Exxon
      558 4 Alaskan Indian tribes want a say NYT A US FEDERAL judge on Thursday blockcd a US$l.2 billion (552.09 billion) settlement of civil lawsuits over damage done by the Exxon Valdez two years ago in North America's largest oil spill. Fifteen Alaskan Indian tribes
      NYT  -  558 words
    • Article, Illustration
      Lock icon AT&T takeover of NCR looks inevitable
      572 4 NYT IN A MEETING on Thursday with securities analysts, the chairman of NCR, Charles E Exley Jr, appeared to acknowledge that a takeover of the company by AT&T was all but inevitable. "He has accepted the idea that a deal will get done," said
      NYT  -  572 words
    • Article
      Lock icon Maxwell makes progress in talks with unions
      706 4 NYT ROBERT MAXWELL, the British publisher who wants to buy the New York Daily News, told its union leaders on Thursday he needed to trim more than 800 jobs more than a third of the work force to go through with the deal.
      NYT  -  706 words
    • Article
      Lock icon Reconsider regional jet project, London tells Bonn, Paris
      374 4 FT THE BRITISH government has warned Germany and Erancc not to undermine the European commercial aerospace industry by subsidising a German proposal to develop with French and Italian partners a new family of regional jets. Deutsche Aerospace, the aircraft subsidiary of the
      FT  -  374 words
    • Article
      Lock icon Zimbabwe cancels De Beers' mining rights in the south
      327 4 AFP ZIMBABWE has canccllcd the rights of the De Beers mining giant to diamond claims in the south of the country. The announcement by Zimbabwe on Thursday followed a wrangle over marketing the gems, with De Beers wanting them to go
      AFP  -  327 words
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  • FINANCIAL NEWS
    • Article, Illustration
      Currency speculation in Indonesia under control
      822 5  -  Bankers seem convinced there will be no devaluation of rupiah From Maggie Ford in JAKARTA INDONESIAN financial officials appear to have convinced bankers and foreign exchange dealers of their determination not to launch a devaluation of the currency, and currency speculation is now being
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    • Article, Illustration
      Greenback continues to climb
      596 5 DBS Bank weekly currency review US$/DM: Potential double bottom formation THE BREAK of the 1.5300 level that we forecast materialised last Friday, with the US dollar closing above the trcndlinc joining the highs of weeks ending Mar I, 1985 and Sep 15, 1989 at the same
      596 words
    • Article
      Lock icon Japan against US move to take row to Gatt
      466 5 Reuter THE US wants to bring a dispute with Japan over interest rate deregulation to the world trade body Gatt, but Tokyo is resisting. The Uruguay Round of the General Agreement on Tariffs and Trade (Gatt) is an inappropriate forum for
      Reuter  -  466 words
    • Article
      Lock icon German bankers' resistance to ECU bonds expected to continue
      506 5 Reuter THE EUROPEAN currency unit (ECU) is playing an increasingly important role in European capital markets, but German bankers arc likely to continue to resist ECU bonds, for the foreseeable future at least. High yields in the German market, the relatively
      Reuter  -  506 words
    • SMALL CHANGE
      • Article
        US Senate approves US$30b for bailout
        157 5 THE US SENATE approved on Thursday an additional US$3O billion to pay otT depositors in failed savings and loans banks that would give a badly needed infusion of money to the cash-strapped Resolution Trust Corporation. The Senate approved the bill 69-30 and sent it
        157 words
      • Article
        Cut in Swedish discount rate
        39 5 THE SWEDISH central bank Riksbanken on Thursday cut its discount rate from 11 per cent to 10 per cent. The bank said that the reduction reflected falls on the money market in recent weeks.
        39 words
      • Article
        Beregovoy sees lower rates
        133 5 FRENCH Finance Minister Pierre Beregovoy said on Thursday that the likelihood of the French inflation rate slipping below the German level means that French interest rates "could probably trend downward, as the markets now expect". Speaking at a colloquium in Paris, Mr Beregovoy said "the French
        133 words
      • Article
        Wood Gundy turns in profit
        100 5 THE CANADIAN Imperial Bank of Commerce said its investment dealer subsidiary Wood Gundy Inc earned CsB million in the first quarter compared to a Cs3 million loss in the same period a year ago. "This C$ 11 million improvement reflects the benefits of restructuring Wood
        100 words
      • Article
        Realkreditt posts loss
        90 5 NORWAY'S biggest credit institution Realkreditt A/S, which plans to merge with Christiania Bank og Kreditkasse later this year, reported a 1990 net loss of 493.5 million crowns compared with a 1989 profit of 106.1 million crowns. Realkreditt said its losses on lending had jumped to 579.1 million
        90 words
      • Article
        Credit Suisse profit down 31pc
        117 5 THE CREDIT SUISSE BANK yesterday reported that net profits in 1990 fell by 31.2 per cent to 539 million Swiss francs, and proposed a reduction of the dividend. The hank, the third biggest in Switzerland, said in Zurich that the fall was due almost wholly
        117 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      141 5 I REPUBLIC national bank OF NEW YORK I I SINGAPORE BRANCH I Republic National Bank of New York, Singapore, a worldwide gold I I distributor for Australian Nugget, is pleased to announce the offer of I the latest Australian Nugget Gold Coin series on 14 March 1991. |1 I The
      141 words
  • Page 5 Miscellaneous
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  • THE REGION
    • NOTE BOOK
      • Article
        Malacca offers 50pc rebate on land conversion
        89 6 THE Malacca government will give a 50 per cent rebate for the conversion of the status of land from agriculture to industrial up to the end of next year to attract more investments, Chief Minister Tan Sri Haji Abdul Rahim Tamby Chik said
        89 words
      • Article
        Japanese loan to Indonesia
        72 6 THE Export-Import Bank of Japan has signed an agreement to lend US$2OO million to Indonesia. The loan will be used for economic development projects such as the improvement of power plants and power transmission facilities, and the construction of roads and bridges, a bank official said
        72 words
      • Article
        Hanoi ready to rebuild Gulf
        89 6 VIETNAM is ready to lend a hand in the reconstruction of the Gulf region, a foreign ministry spokesman said in Hanoi yesterday. The official said Hanoi was willing to "take part in the reconstruction of the region, as far as circumstances permit and with agreement
        89 words
      • Article
        Penang aims to help Perlis
        83 6 PENANG is prepared to help promote Perlis as a destination for tourists visiting the island, especially in groups, a tourism official said yesterday. Penang Travel Association (PTA) chairman Sycd Mohamcd Aidid said Perlis should benefit from the spillover of tourists from Penang, estimated at two
        83 words
      • Article
        M'sian footwear exports up
        64 6 THE Malaysian footwear manufacturing industry is expected to almost triple its growth to Ms4so million by 1995 from Msl66 million in 1982, of which Msl7s million will represent exports, the Minister of Domestic Trade and Consumer Affairs, Datuk Dr Sulaiman Haji Daud, said in Kuala Lumpur
        64 words
      • Article
        Oil slick licked off Australia
        88 6 A NEW oil threat to beaches off Western Australia's south coast appears to have been beaten, a Western Australian government spokesman said late on Thursday. Mike Brown, from the government's Marine and Harbours Department, said chcmical dispcrsants dropped from a helicopter and a tug boat
        88 words
    • Article, Illustration
      Lock icon Daim: growth to remain at 7.8pc
      290 6 Bernama MALAYSIA'S economic growth is projected to remain at 7.8 per cent for several years to come as the Gulf war has ended. Finance Minister Datuk Paduka Daim Zainuddin said on Thursday. Although he was not able to say how long such growth could
      Bernama  -  290 words
    • Article
      Lock icon Move to import steel bars runs into hitch
      370 6 MBT THE MOVE by three Malaysian associations the Master Builders Association of Malaysia (MBAM), the Housing Developers Association (HDA) and the Bumiputra Contractors Association (BCA) to import steel bars has run into problems. The high steel priccs in the world market, ranging
      MBT  -  370 words
    • Article
      Lock icon M'sian states against move for new water act
      466 6 Bernama THE Malaysian government's proposal of a new act to replace the Water Supply Enactment 1932 and to coordinate the management of water supply has been strongly opposed by several states as a move to deprive them of state income. Although the
      Bernama  -  466 words
    • Article
      HK retail sector among those capturing strong US interest
      286 6 HONGKONG'S communications. transport and retail sectors were the fastest growing areas for direct US investment between 1985 and 1989, soaring from US$7 million (S$ 12 million) to $259 million, according to US Commerce Department figures, the South China Morning Post reported.
      286 words
    • Article, Illustration
      Lock icon Hawke reversal on environment
      446 6 AFP THE Australian government is expected next week to announce a decision favouring industrial development over environmental protection, threatening an alliance with the powerful "Green" movement. Although the decision will not officially be announced until next Tuesday, Prime Minister Bob Hawke is reported to have won
      AFP  -  446 words
    • Article
      China wants HK$50 billion cushion in HK reserves
      535 6 CHINA has demanded that Hongkong retain at least HKSSO billion in reserves in 1997 when it gains sovereignty over the territory, the South China Morning Host said yesterday. The demand is contained in a set of proposals Beijing has put to British
      535 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      102 6 FOR WHO# WHAT, WHERE AND WHEN IN THE MARKET. ADVERTISING MARKETING, in BUSINESS TIMES every Thursday, covers a vital sector of the economy comprising the country's communications muscle. The page monitors business developments and the players in both international and Singaporean advertising agencies; it charts and reports on trends in
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  • THE WORLD
    • Article
      Lock icon Bonn to spend DM12b more on east
      337 7 Spending in eastern Germany to exceed DM 100b already earmarked UPI THE GERMAN government announced on Thursday it would spend 12 billion German marks (about S$ 13.6 billion) to rehabilitate eastern Germany's ailing economy this year, in addition to 100 billion marks already
      UPI  -  337 words
    • Article, Illustration
      Lock icon A sea of humanity on a ship
      59 7 Albanian refugees clinging to rails of the ship Lirija as it sailed into Brindisi harbour in southern Italy on Thursday. The ship was one of at least seven which arrived in Italy. Local officials have not been able to cope with the influx,
      Reuter picture  -  59 words
    • Article
      Lock icon Tokyo expected to reverse 18-year-old oil policy
      240 7 AFP THE Japanese government is expected to approve construction of new oil refineries in Japan for the first time in 18 years, reversing its policy of restricting production, the Nihon Kcizai Shimbun said on Thursday. A new administrative guideline, or unwritten regulation enforced
      AFP  -  240 words
    • Article
      Lock icon US unemployment figure hits eight-year weekly high
      321 7 Reuter MORE THAN half a million people in the US filed for unemployment benefits in the third week of February, marking the highest weekly rate in eight years, the government said on Thursday. The report raised concern among some economists that the end
      Reuter  -  321 words
    • Article, Illustration
      Lock icon Kuwait likely to borrow up to US$20b for rebuilding
      501 7 The Gulf after the War FT THE KUWAITI authorities are expected next week to agree on plans to borrow as much as US$2O billion (about Ss34 billion) from international banks and to discuss a sweeping reorganisation of the state's financial institutions.
      FT; Reuter picture  -  501 words
    • Article
      Lock icon Poor Arab states need stock markets
      319 7 AFP POOR, non-oil producing Arab states, suffering from a decline in aid and remittances. need to set up stock markets to attract investments and heal their ailing economies, according to experts. "The presence of a stock market has become an urgent need for any
      AFP  -  319 words
    • WORLD WATCH
      • Article
        Beijing to set up 100 holding companies
        73 7 CHINA PLANS to establish a network of 100 major holding companies or enterprise groups to improve its competitiveness internationally, according to the South China Post. A meeting convened by the State Council's Commutator Restructuring the Economy and the State Planning Qoinmission has decided
        73 words
      • Article
        Hungary adopts recovery plan
        64 7 THE HUNGARIAN GOVERNMENT on Thursday adopretl a four-year economic plan providing for speedy privatisation of the economy and convertibility of the Hungarian foririf fK early-1993. Titled "Stability and Convertibility", the pfou fs seen as the first realistic economic and legislative timetable towards a market economy, which
        64 words
      • Article
        Talks on Middle East aid
        69 7 AMERICA, its wealthy allies, the International Monetary Fund and the World Bank will meet in Luxembourg on Monday to discuss financial aid for the Middle East. The meeting will be held under the auspices of the Gulf CrtSfs Financial Coordination Group, a gathering of more
        69 words
      • Article
        Taipei approves record budget
        64 7 TAIWAN'S Cabinet approved a record state budget for. fiscal 1991-92. seeking to boost flagging economic growth big jump in public works spending. In a break with Taiwanfs traditional conservative fiscal policy, the budget features >a record deficit of NT5310.3 billion (about S$ 19.8 billion), trp 163
        64 words
      • Article
        Price of land soars in China
        77 7 PRICES of industrial land have soared in southern China's Pearl River delta area as overseas investors, mainly fnopi neighbouring Hongkong, have set up plants there. A semircjfflcial Chinese news service said yesterday the price of industrial lots in the region went up sharply last
        77 words
    • Article
      Lock icon EC trade minister says Gatt pact possible this year
      338 7 Gatt head refuses to set new deadline Reuter THE HEAD of the Gatt world trade body declined to set a fresh deadline for the recently revived Uruguay round of world trade talks, but a European Community trade minister said agreement was
      Reuter  -  338 words
    • Article
      Lock icon US firm among first to file war claims
      219 7 AP BROWN and Root, the Houston-based engineering giant, has filed one of the first major war claims since the end of the Gulf War. suing Iraq's state-owned oil company for US$l7.B million (about 5530.3 million) in unpaid bills. Brown and Root wants
      AP  -  219 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Broader market rises but blue chips edge lower
      4602 8  -  By Genevieve Cua SINGAPORE share prices closed mixed in a day of heavy trading, marked by profit-taking in blue-chip stocks. Profit-taking pulled down the wide-ly-watched Straits Times Industrials Index by 10.92 points by midday. But the index recovered in the afternoon. Buying
      4,602 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    4117 9 Main Board DBS Foreign 1390 t-40 F 3.0% Spore BusF 500 715 KM) f4 4% FfcLSSO* 645 F20 f3 2% CiB Hltlgs 20* 161 F20 14.2% S Steamship50* 318 FI8 1-6.0% Keppel Inv Wt 110 H5 >15 8% SingmanrKSO* 474 H4 1-3.0% CKTang 424 FI4
    4,117 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Shares end at 7-month high in active trading
      4248 10 Bernama BUYING support enabled the Kuala Lumpur stock market to close at its highest level in more than seven months despite the continued forays of profit-takers yesterday. The KLSE Composite Index closed 1.49 points higher at 601.30. the first time the key
      Bernama  -  4,248 words
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      82 10 ■Br IS BI 1 |H vn w JB i vij/n i r ::,x 1 ni J^^« :i^j^^^v: -:<; ---:''i";*;"""^^^^^* >: V'''"yi H^Kft:f:> \y: :i]:ifci»iii«!i'» i i > i y£^ •-v.'' v'•"' ■•ji»t--** > i > v&. *i& .j» IW. 5 s«w*r* V -V *2 Still in working From one of
      82 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Index-linked orders push stocks to year's high
      2198 11 TOKYO stocks yesterday ended at their highest closing level this year, after March futures and options settlements dominated trade, boosting turnover. Brokers said the market breathed a sigh of relief after stock prices proved resilient, despite volatility from settlement-related orders. "The last two
      2,198 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Shares close slightly weaker on mild consolidation
      2112 11 Reuter SHARE PRICES in Hongkong ended slightly weaker yesterday as late but weighty bargainhunting failed to wholly offset morning profittaking, brokers said. "This kind of mild consolidation is normal and healthy," said Andrew Au, a director at Hoarc Govett. The blue-chip Hang Seng
      Reuter  -  2,112 words
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  • REGIONAL STOCK MARKETS
    • Australian stocks close at year's high
      • Article
        INDICES & TURNOVER
        90 12 INDICES TURNOVER Close March 8 Previous SYDNEY All Ordinaries Index All Industrials Index All Resources Index Turnover (million) 1.4156 2.185.7 825.9 90.74 1.412.3 2.185.1 820 8 129.91 3 3 +0.2 5.1 f 39.17 BANGKOK SET Index Turnover (million baht) 827.54 5.900 817.23 5.900 10.31 unch JAKARTA Composite Index 390 05
        90 words
      • Article
        AUSTRALIA
        915 12 THE AUSTRALIAN sharemarket yesterday edged up to its highest close for the year and brokers continued to be optimistic about further rises. The All Ordinaries Index traded in a tight range .before ending 3.3 points higher at 1,415.6, its best close since Sep 21, 1990, when it was at
        915 words
      • Article
        BANGKOK
        731 12 RUMOURS that finance companies might be allowed to act as money changers after the Thai government further relaxes its foreign exchange controls next month helped shore up their share prices, and the market closed higher yesterday, brokers said. Textile companies saw their share prices plummet most after the group
        731 words
      • Article
        MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        319 12 la local currency In S$ la (JS$ day year day year day year MAR 7 Index change change change change chaage change Wor id 409 1 0.1 14.2 -0.1 13.4 0.2 13.2 iFAFE 536 9 -02 14 2 0.0 13.1 0.2 12.9 Eurooc 422.9 -0
        319 words
      • Article
        JAKARTA
        549 12 PRICES on the Jakarta stock exchange closed mixed, with the official index edging up 3.70 points to 390.05 and total turnover falling to 1.30 million shares from Thursday's 2.41 million. Brokers said trading was slow, with only a handful of favourite shares traded. "It's dull. There's no fundamental factor
        549 words
      • Article
        MANILA
        572 12 PHILIPPINE shares closed mixed yesterday after favourite blue chips and property issues, supported by bargainhuntcrsl crept up from an opening fall caused by Wall Street's overnight losses. The Manila Stock Exchange Composite Index finished 14.92 points higher at 986.36 after commercial/industrial gains outweighed losses in minings and oils. "People
        572 words
      • Article
        NEW ZEALAND
        168 12 NEW ZEALAND share prices closed lower yesterday on heavy volume, particularly in Bricrley Investments, which eased further following its lower half year result on Thursday. Brokers said there was no clear trend apparent with direction next week a toss-up. "I think it will just bump along at these
        168 words
      • Article
        SEOUL
        811 12 SEOUL stocks closed slightly higher in moderate trade yesterday with shares in high-technology sectors posting gains in anticipation of a government move to support the industry, brokers said. The Composite Index closed at 675.94, up 1.07 points from the previous session, after fluctuating within a narrow range. Turnover was
        811 words
      • Article
        BOMBAY
        62 12 BOMBAY share prices rebounded yesterday on rumours that former prime minister Rajiv Gandhi may be asked to form a government. The Bombay Stock Exchange Index recovered 40 points to 1,191.05. The National Index gained 11.93 to 594.07. "There are rumours that Indian President R Venkataraman may ask Mr Rajiv
        62 words
      • Article
        Untitled
        434 12 Wellington NZ Cmik VoKW) Air NZ 135 unch 634 ANZ Banking 410 +10 29 Bank Of NZ 65 -I 2958 Baycorp Hold 6 Bncrly Inv 104 I *****6 Carter Holt 176 3 3275 Cavalier Corp 145 unch 670 Ccramco Corp 86 +1 42 Cityrcaltics 20 Corp Inv 93 +1 200
        434 words
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  • WORLD STOCK MARKETS
    • Dow drifts lower as investors await job data
      • Article, Illustration
        NEW YORK
        1143 13 WALL STREET blue chip stocks fell, bonds rose and the dollar was mixed on Thursday as investors awaited fresh news on the economy. Wall Street took a breather after pushing the Dow Jones Industrial Average into record territory on Wednesday, briefly exceeding the 3,000 level before dropping back.
        1,143 words
      • Article, Illustration
        LONDON
        784 13 UK EQUITIES closed lower on Thursday as the euphoria sparked by Wednesday's 40-point rise in the FTSE 100 index faded and profit-taking eroded some of Wednesday's gains. But dealers said the market's underlying tone remained firm and share prices were still relatively high. The FTSE 100 index closed near
        784 words
      • Article
        PARIS
        131 13 INSTITUTIONAL investors, flush with cash, continued to pour money into the Paris bourse, lifting the CAC-40 blue chip index to a new seven-month high on Thursday, traders said. The CAC-40 rose 10.84, or 0.60 per ccnt, to close at 1,831.85, its highest since August 3, 1990. "Some French institutions
        131 words
      • Article
        AMSTERDAM
        278 13 DUTCH shares continued firmer but below highs in midscssion yesterday as operators started to focus on the release of IJS jobs data later in the day, traders said. Volume tailed otT by midday after a lively morning session in which the market gained support from higher foreign bourses, firmer
        278 words
      • Article
        BRUSSELS
        219 13 BELGIAN shares closed mixed to lower in active trading on Thursday, dealers said. Volume totalled 1.14 billion francs. Seventeen shares rose and 30 declined. The main forward market index fell just one point to 5,742.43 but the cash market index was 0.6 per cent higher at 5,775.05. Belgium's biggest
        219 words
      • Article
        FRANKFURT
        210 13 GERMAN shares on Thursday held on to early gains to close broadly higher, pushing the 30-sharc DAX index above the psychologically important 1,600 point level. Dealers expected prices to rise again at the start of next week. They saw few fundamental reasons for the rally, though some said the
        210 words
      • Article
        MILAN
        220 13 ITALIAN shares traded slightly higher yesterday morning after a flat opening, with Fiat shrugging ofT Thursday's news that deliveries to the Italian car market were down 20.23 year on year in February. Fiat ordinary shares, one of the first to be officially fixed were set at 5,450 lire, down
        220 words
      • Article
        ZURICH
        285 13 SWISS shares closed easier on Thursday in quiet trading. Dealers said foreign investors, the driving force behind yesterday's two-per cent gain, were absent from the market today. The All-Share SPI Index eased 2.3 points to 1,046.2, while the SMI index of leading shares shed LI to 1,623.9. Volume was
        285 words
      • Article
        STOCKHOLM
        63 13 PRICES on the Stockholm bourse yesterday picked up from an early downturn in busy trade, and the general index rose beyond Thursday's year-high of 1,094.30. By mid-morning, the bourse general index had firmed 0.58 per cent to 1,100.60 in strong turnover of 324 million crowns. Blue chips were 0.8
        63 words
      • Article
        JOHANNESBURG
        344 13 JOHANNESBURG stock market showed little movement in slow early trading on Friday as traders awaited fresh clues to direction. Dealers said the market can be expected to drift sideways for the rest of the day in the absence of any fresh factors. At 10:00 the JSE all-share index was
        344 words
      • Article
        Lock icon TORONTO
        238 13 Reuter TORONTO stocks closed slightly lower in moderate trade on Thursday after gradually pulling back from early gains, dealers said. "New York was down and we were down; in a sense it needed a rest," after climbing sharply higher earlier this week, one trader said. Many investors paused on
        Reuter  -  238 words
      • Article
        Untitled
        44 13 Vienna Mir 7 Aach Akg Holding 4150 80 E. Allgcm (PrcO 3800 50 Jungbunzl 9650 unch Lacndcrtoank (PrcO 605 unch Lcnzing 1514 -II Lcykam 476 f 8 Montana Ocstcrr. Brau 4100 -20 Scmpcnt 123 -2 Stcyr 416 +1 Vcitschcr 816 +38 Source: Austrian Laenderbank
        44 words
      • Article
        INDICES & TURNOVER
        96 13 INDICES TURNOVER NEW YORK Dow Jones NYSE Financial S&l' 500 Turnover (million) March 7 CW Previous 2.963.37 2,973 27 -9 90 NA ***** 375.91 376 17 -0 26 197 06 262.3 F 25.24 LONDON Financial Times 30 FTSE 100 Turnover (million) 1.950.6 2.437.7 665.8 1,977 5 2.459.9 1.050 -26.9 -22.2
        96 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Mark opens sharply weaker against US dollar in Europe
      1223 14 FOREX MARKET REPORTS THK MARK was sharply lower against the lIS dollar in active early trade in yesterday after US dollar gains caused the mark to slip below a key support against the US currency overnight. Dealers expected range trading ahead
      1,223 words
    • Article
      INTERBANK FOREX RATES
      401 14 Cross rates Man USS S$ MS Dm Yen SFr A$ NZS USS 1.7410 2.7305 1.5450 135.40 0.5292 I 3480 1.3038 1 6892 S$ 0.5744 1.5684 0.8874 0.7777 0.3040 0.7743 0.7489 ***** MS* 0.3662 63.76 0.5658 0.4959 0.1938 0.4937 0.4775 0.6186 Dm 0.6472 1.1269 1.7673 87.64 0.3426 0.8725
      401 words
    • Article
      MONEY MARKET
      568 14 Interbank rates SS Bid Offer Overnight 2 2 1/4 l-nionth 4 1/2 4 5/8 ?-month 4 9/16 4 11/16 3-month 4 5/8 4 3/4 Overnight mode: 4-5/8 I SS Offer 7 davs 6 3/8 6 1/2 1 month 6 11/16 6 13/16 2 months 6 5/8 6 3/4
      568 words
    • Article
      Lock icon Danish futures market to launch new products
      374 14 Reuter DENMARK'S futures market plans to exploit its recent volume surge caused by the uncertainty in financial markets during the Gulf crisis by launching a number of new products. Turnover on the Futop (Futures and Options Guarantee Fund) market hit a record average
      Reuter  -  374 words
    • Article
      Lock icon Tokyo property firms resume Euroyen bond issues
      200 14 Reuter MAJOR Japanese real estate companies arc resuming Euroyen bond issues due to prospects that tight restrictions on bank lending will continue, capital market sources said. Sumitomo Realty Development Co Ltd plans to issue a 30 billion yen (*****.6 million), four-year, three-month Euroyen
      Reuter  -  200 words
    • Article
      FINANCIAL FUTURES
      1239 14 SIMEX EURODOLLAR Open High Low Sell Esl Vol Op/lnt Vol Mar 91 93 23 93.25 93 22 93 24 MMO ***** 2475 Jun 91 93.23 93 28 93.23 93.26 ***** ***** 5762 Sep 91 93.00 93.04 93.00 93.02 2800 5948 652 Dec 91 92.60 92.62 92.59 92.59 700
      1,239 words
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  • COMMODITIES
    • Article
      Lock icon Saudi Arabia and Algeria clash over role of Opec
      364 15 AFP ALGERIA and Saudi Arabia have publicly disagreed about the role of Opec, the price of oil and the level of oil production in the aftermath of the Gulf war. Some Algerian sources have even spoken of the collapse of the
      AFP  -  364 words
    • Article
      Lock icon M'sian crude palm oil output up by only 0.63pc last year
      330 15 Bernama MALAYSIA'S production of crude palm oil rose by only 0.63 per cent to 6.094 million tonnes in 1990 from 6.056 million tonnes in 1989, the Palm Oil Registration and Licensing Authority (Porla) says. CPO output for Peninsular Malaysia
      Bernama  -  330 words
    • Article
      M'sian crude palm oil market ends firmer
      834 15 REPORTS THE Malaysian crude palm oil market closed slightly steadier yesterday in line with gains on the futures market and the Chicago Board of Trade overnight. Pakistan's purchase of 12,000 tonnes of RBD palm oil also contributed to the uptrend in the market,
      834 words
  • Article
    PRICES
    1458 15 Rubber Mars MS (fcfc In >■!■») S ccnls/kg Noon Close Int I RSS Prompt 143 50/144 50 144 00/145 00 Inl I RSS Apr 91 145.75/146.25 146 25/146 75 Int I RSS May 147.50/148.00 147.75/148 25 Int 2 RSS OP I42.00/I44.00N 142 50/144 SON Int 3 RSS OP 137.00/139.00N
    1,458 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
      351 15 NOTICE IN THE MATTERS OF THE COMPANIES ACT (CHAPTER SO) AND IN THE MATTER OF FUR AMA MARINE PTE. LTD. (Incorporated in th« Republic of Singapore) (In Liquidation) MEMBERS'VOLUNTARY WINDING UP NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, (Chapter 50) that the Final General
      351 words
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      Page 15 Advertisements Column 3
      13 15 NV TIK Singaporean news for Singaporeans fMnrrfnr VWIJCoj. Subscribe now. Call 740-1840/1. L
      13 words
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  • Article, Illustration
    Sparta to help Vietnamese barter with S'pore companies
    398 16  -  By Harish Mehta FOUR Singapore businessmen have registered a com pany called Sparta Trade Centre to help cash-strapped Vietnamese companies do barter trade with local companies. Edmund Tan, the marketing and trade consultant for Sparta, is one of the people behind the
    398 words
  • Article
    Bright prospects in several sectors
    283 16 SINGAPORE companies in the finance, construction, manufacturing, shipping, marine and telecommunications sectors have a bright future in Vietnam should the government lift its ban on investment there, the DBS Bank said in a report on Indochina. The bank said that Vietnam offers prospects for foreign
    283 words
  • Article, Illustration
    Lock icon Israel studies idea of regional peace talks
    368 16 The Gulf after the War AMERICAN Secretary of State James Baker arrived in Saudi Arabia yesterday in search of a Middle East peace solution as Israel's right-wing government said for the first time that a regional peace confcrcncc could be a forum for
    Reuter picture  -  368 words
  • Article
    Lock icon Jardines escapes censure over share buyback breach
    442 16 Reuter HONGKONG trading giant Jardine Mathcson Holdings Ltd (JMH) is not to be censured by the Stock Exchange of Hongkong for breaching rules about buying back its own shares, the company said in a statement yesterday. it said that it had agreed to
    Reuter  -  442 words
  • Article
    China assures investors of HK's freedom
    318 16  -  From Catherine Ong in HONGKONG RECENT CHILLS in Hongkong and China relations appeared to have thawed as a senior Chinese official gave strong assurances to foreign investors yesterday on the business climate in the territory after 1997. Lu Ping, director in charge of Hongkong
    318 words
  • Article, Illustration
    Posh residential areas chosen for conservation
    393 16  -  URA move could distress some developers By Lee Han Shih, Michelle Low SELECTED SPOTS in three posh residential areas along Nassim Road, Chatsworth Park and Ridout Park have been earmarked for conservation, a move that will delight the residents there but could distress some
    393 words
  • Article
    Lock icon UK Conservatives receive stunning blow in by-election
    261 16 Reuter BRITAIN'S ruling Conservative Party has suffered a stunning defeat in a byelection that has dimmed speculation Prime Minister John Major will call an early national ballot. The upset on Thursday night in Ribblc Valley, north of Manchester, reflected enormous discontent with the
    Reuter  -  261 words
  • Page 16 Advertisements
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      Page 16 Advertisements Column 1
      50 16 ICHARTPOINT Every Saturday in Business Times WE ARE INTERESTED IN THE PURCHASE OF ABOUT 3 TO 4 YEARS OLD "FUJI COLOUR" MINI LAB EQUIPMENT, CONSISTING AMONG OTHERS, 35MM FILM PROCESSOR, PHOTO PRINTER, AND OTHER LAB EQUIPMENT, ACCESSORIES AND SPARES. Interested parties please contact with full details during office hours to:
      50 words
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      Page 16 Advertisements Column 2
      8 16 What kind of Iraq is best? EL 2
      8 words
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      Page 16 Advertisements Column 3
      159 16 CHARTPOINT Every Saturday in Business Times LOST CERTIFICATES The following certificates have been reported lost, mislaid or destroyed: Name of Company Cert. Noa. In the Name of No. of Sharea Bukit Sembawang 6536 Henry Greenwood 1 x 150 Estates Limited *****9 Henry Greenwood 1x 150 Cerebos Pacific Limited *****241 See
      159 words
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  • Executive Lifestyle
    • Article, Illustration
      Lock icon The Mother of All Plays
      1312 17  -  Now that the Gulf War is over, what's to become of Saddam? Contrary to popular belief, he's not hiding in Baghdad waiting to spring another nasty surprise on the world. Jaime Ee imagines life behind the Scud's Curtains as she presents: Jaime Ee SCENE: Somewhere
      Adapted from Punch  -  1,312 words
    • STRAWS IN THE WND
      • Article
        No holds barred
        72 17 FORGET the saying that in polite company, one does not talk about sex, politics, money or religion. One foreign reporter discovered this on a trip to Jakarta when a newlymarried taxi driver enthusiastically asked her if she was married. Keen to share experiences. he prattled on about
        72 words
      • Article
        Lucky number
        44 17 TALK about madc-to-order vehiclc number plates. Seen on the road the other day was an all-white hearse bearing the registration number YG 4444 (which, of course, is "die" in Cantonese repeated four times). Wonder if the undertaker paid specially for that number.
        44 words
      • Article
        Strange odour
        33 17 THE Body Shop has a new deodorant ad which really stinks. Seen on a poster at one of its outlets: Turn your armpits into charmpits. Pheromones of the world, watch out!
        33 words
      • Article
        Budget daze
        47 17 BUDGET Day is over, but when one unenlightened person asked another when it was, she got the reply: "Mine is every day." Do you have a straw to share with us? Send your contributions to: Lifestyle Editor, Business Times, J9O Kim Seng Road, Singapore 0923
        47 words
    • OPINIONS
      • Article
        The need to evoke that inexplicable sentiment
        1058 18  -  Selva Kumar says if people felt that they were really at home here, they would not leave Singapore Selva Kumar The writer is a BT journalist WHILE the exodus of Singaporeans to greener pastures has somewhat abated, the concern over a brain drain
        1,058 words
      • Article, Illustration
        What kind of Iraq is best?
        1302 18  -  The future of Iraq lies in a balance between security and justice, argues Melanie Chew Melanie Chew l)r Melanw hew is a military historian THERE was a note of hopeful satisfaction in the news this week. Cities in the North and South of Iraq
        1,302 words
      • Article
        MPs as company directors: Clear guidelines are needed
        430 18  -  Kenneth Chew THE ISSUE of MPs sitting on the boards of public listed companies have now been brought to the limelight, with the appointment of Dr Tan Cheng Bock to the chairmanship of Chuan Hup Holdings Ltd. To do justice to all
        430 words
      • Article
        Lessons learnt from the Tanjong Pagar project
        309 18  -  LETTERS TO THE EDITOR Tong Kok Wing I REFER to the articic "Life after resurrection" in Executive l.ifestyle (Hl'. March 2-3). In my opinion, there can be only one verdict on the Tanjong Pagar Conservation it is an unequivocal failure. Reason? The fundamentals
        309 words
      • Article
        Why men of intellect sometimes differ
        279 18 I REFER to the article "Lee raps Law Society on Elected Presidency in the Law Page (BT, March 6) I really do not see why lawyers should be annoyed when the Senior Minister scolded them for their views on the above. If they, as
        279 words
      • Article
        The special nature of sea employment
        210 18  -  Khoo Swee Chee (Mrs) I REFER to the articic "SOS Takes more flexible stand on hiring of seamen' in Shipping Times (BT. March 7). The statistics on Singapore seamen maintained by the Board comprise seamen at sea, seamen in the activc reserve as well
        210 words
      • Article
        Bank quotes most effective rates possible
        237 18  -  Busskaran Nair Vice President, Public Affairs DBS Bank WE REFER to the letter "Housing Loans: Avoid being trapped" (BT, Feb 23-24), in which Mr Lam Yew Tong commented on our earlier letter "Reviews of housing loan rates do take place" (BT, Feb 9-10). Mr
        237 words
    • SPORTS
      • Article
        The yen for California green
        510 19  -  Why are the Japanese spending big bucks on US golf courses? Christopher Reed has some answers Christopher Reed WHEN it comes to golf, Japanese appetites for the green links of California are reminiscent of the old joke about the man who saves a billionaire's life.
        510 words
      • Article, Illustration
        It really is tough at the top of tennis
        797 19  -  As Monica Seles overtakes Steffi Graf as the world's No 1 player, Cassandra How examines whether the Graf era is over and how long Seles may last as No 1 Cassandra How AFTER a record 156week at the top of the
        797 words
      • Article, Illustration
        Lock icon An important milestone for Strange
        377 19 AP A PLAYOFF loss to Rocco Mediate produced no negative feelings only an eager sense of anticipation for Curtis Strange. "I had kind of mixed feelings driving up here," Strange said on Wednesday after a practice session for this weekend's Honda Classic. "Of course, when
        AP  -  377 words
      • Article
        Lock icon US Ryder Cup captain unhappy about course
        334 19 Reuter THE decision to play the next Ryder Cup on the new Kiawah Island Ocean Course has thrust the US team into the role of underdogs against the Europeans, US captain Dave Stockton said on Wednesday. Playing the Sep 26-29 matches on the
        Reuter  -  334 words
      • SIDE LINES
        • Article
          Frenchmen lead in 3rd stage of yacht race
          84 19 FRENCH SKIPPER Christophe Auguin in Groupi' Swia was second across the line at Punta Del Este, Uruguay, on Thursday in the third stage of the BOC Challenge round-the-world solo yacht race. Auguin arrived a day after fellow countryman Alain Gauticr. Gautier leads
          84 words
        • Article
          Ben Johnson to retire next year
          52 19 CANADIAN sprinter Ben Johnson plans to retire next year after the Barcelona Olympic Games. Johnson, who recently started his comeback two years after the drugs scandal which rocked the 1988 Olympics in Seoul, is finding the stress and strains of top-level athletics too hard
          52 words
        • Article
          Man U-Montpellier clash again
          113 19 MANCHESTER United are to report Montpellier president Louis Nicollin to the European Football Union (UEFA), claiming he tried to intimidate striker Mark Hughes after their stormy European Cup Winners' Cup tie. The French club accused Hughes of deliberately overreacting after being shoulder-charged by defender Pascall Baills,
          113 words
        • Article
          Olazabal leads at home
          52 19 SPANIARD Jose Maria Olazabal, sinking three birdie putts of 18 feet each, shot a 4-under-par 68 on Thursday to take a one-stroke lead after the opening round of the U*****,000 (S$ 1.25 million) Baleares Open in Spain. Spaniard Miguel Martin and Briton Jeremy Bennett were tied
          52 words
        • Article
          Sydney to host grand prix
          64 19 A ROLLING stretch of farmland cradled by the Blue Mountains west of Sydney forms the backdrop for the newest track on the world motorcycling championship grand prix calendar. The 3.9-km twisting layout at Eastern Creek hosts the Australian Motorcycle Grand Prix from April 4-7, with
          64 words
        • Article
          Sumo wrestler floored
          70 19 SUMO WRESTLER Kotonishiki has finally been floored, not by an opponent but by revelations of his infidelities. Kotonishiki, 22, was widely talked of as a future grand champion of traditional Japanese wrestling. But now even his biggest supporters are dismayed. Indignation followed news that Kotonishiki had dumped
          70 words
      • Article
        Lock icon Harry Abrams: The last roar from the '20s
        652 19 NYT HE'LL be 84 years old on July 10 but his eyes were as bright as his blue running suit, his voice as spry as his white sneakers. Harry Abrams is a treasure of American sports archeology. "As far as I know,"
        NYT  -  652 words
    • EPICURE
      • Article
        Fish fulfilment
        787 20  -  Quek Swee Peng decides to turn totally shellfish Quek Swee Peng RISTOR ANTE BOLOGNA has acquired a new chef. As a prelude to the revamp of the restaurant later in the month, chef Gaetano Ascione has assiduously assembled a selection of seafood. To be sure, the suckers of
        787 words
    • LIFESTYLE
      • Article, Illustration
        Lock icon Aspects failure raises doubts on Broadway
        995 21  -  The broadway show, "Aspects of Love", closes with a loss in investment, making it the greatest flop in Broadway history. The question is whether tne show s failure indicates that the musical extravaganza has lost its lustre with audiences. Richard Bernstein reports Richard Bernstein
        NYT; Punch  -  995 words
      • Article, Illustration
        A perfect match with Beyer's wine and food
        744 21  -  WINE By N K Yong WHEN FOOD and wine come together in a perfect epicurean match, the art of the chef and the vintner arc completely fulfilled. This was achieved when a selection of the finest wines of Leon Beyer, one of
        744 words
      • Article, Illustration
        Fireworks displayed at Board 58 in 1989
        526 21  -  BRIDGE By Sybil Holloway BOARD 58 of the finals of the 1989 World Championships, which were played in Perth, Australia, provided much fireworks in the bidding and plav. The Deal: (switched lOf convenience) Dir: South Both vulnerable Of the eight tables in play
        526 words
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        A Costner experience
        588 22  -  Dances with Wolves is a three-hour long epic that should, by the process of elimination, he an Oscar winner, writes Jaime Ee Jaime Ee MAGINE what it would I be like if you were a cavalI ry soldier who fell in love with a woman named Stands
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      • Article, Illustration
        Drawn back to mafia bloodbath
        412 22  -  Samuel Ee reviews The Godfather Part 111, a befitting conclusion to the story of a family called Corleone Samuel Ee "1-N The Godfather, the CorKheone clan sends a horse's Aifeead to a pal so he can start JvUue factory. In The Godfather Don Corleone decides
        412 words
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        A trip to ballad country
        593 22  -  CD Review By RINGO LIEW DIANE SCHUUR: Pure Schuur One of the few female vocalists around who straddle both jazz and pop, Diane Schuur possesses a voice that would fit just as comfortably in a smoky bar as it would on a stage. And in
        593 words
    • PURSUITS
      • Article, Illustration
        On a slow road to status
        770 23  -  Will Singaporeans grow to embrace the Japanese luxury car the way Americans already do? Samuel Ee ponders Samuel Ee ONCE UPON a time, there were a lot of Americans who were mad about Japanese cars. One particular group raved about how cheap they were
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        Tiong's art of expression
        601 23  -  Cassandra How speaks to Tiong Tian Tong, a local artist who's developing his own unique style Cassandra How VISIONS of the Impressionists come to mind when you look at a work by Tiong Tian Tong. Take his work, Notre Dame, with its deft strokes and hold
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      • Article, Illustration
        Christie's Singapore debut
        474 23 ART possesses an attraction that at times appears to defy market forces which arc linked intricately to the fate of boom, recession and war. Fortunately, fears of an extended battle in the Middle East have since subsided following Iraq's defeat in the Gulf War. There is no
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    • PERSONAL FINANCE & INVESTMENT 1
      • DON'T QUOTE ME!
        • Article
          The piglet that grew with Marco Polo
          130 24  -  Compiled by Lee Han Shih THE SUCKLING PIG served by Marco Polo Hotel after the groundbreaking of Lane Crawford Place on Wednesday was rather bigger than normal. Quipped a wit: "Perhaps this is the piglet they bought for the first tender, and it
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        • Article
          No bulls about it
          124 24 HERE are some more comments on whether we are seeing a real bull market, or just a lot of bull: Alan Abelson, writing in his celebrated column "Up and down Wall Street" in Barrons, said the recent New York stock market rally did not have an
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        • Article
          Another wrong prediction
          114 24 JAMES CAPEL, which fell flat on its face in 1987 by predicting a bull market just months before the October crash, has done it again. This time it was Thailand. As the South China Morning Post gleefully reported it, the research house analysed the Thai political situation
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        • Article
          The Singapore inflation
          57 24 WANT TO KNOW what inflation means for hotels in Singapore? Just consider that The Regent is spending about $70 million to upgrade and renovate its 441 rooms, and that the hotel, formerly known as the Pavilion Intercontinental, was built in the early 80s for about the same
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      • Article
        Shareholders stand to gain more from tax incentive
        924 24  -  By Magdalene Ng Shareholders and holding companies stjnd to benefit most from the latest tax incentive for local companies to go overseas. Last Friday, Finance Minister Dr Richard Hu proposed to exempt from tax dividends paid out of foreign income. The net
        924 words
      • Article, Illustration
        STII attempts 1,500-1,550 level
        471 24  -  CHART By Najeeb Jarhom Mr Jarhom is the research manager of Fraser Roach <& Co With the various resistance levels easily swept aside in the last six weeks in the same manner as Iraq's defeat by the Allied forces, the Straits Times Industrial Index is now
        471 words
      • Article
        Warrants:premiums and gearing
        802 24 Prices (as at 7.3.91) Conversion terms Premium/ (discount) m Amount Exer price Op tional" us ing Gearing 4 Company Issued (m units) Wrts Share Lnslk Conv ratio Lnstk nom value Cash Cash 1 Lnstk 2 Date 13 i c&cwt Causeway Inv Chuan Hup Chuan Hup 94 37.5
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        Property stocks still looking bright
        674 24  -  Shares and warrants of properly companies have surged on the SES. But is the rise in property stocks an accurate reflection of the sectors fundamentals? SN Vasuki finds out SN Vasuki Property STOCKS have been leading a charmed existence ever sincc the start of the
        674 words
      • Article
        Sterling still stable against D-mark
        1022 25  -  Sterling is expected to remain close to present levels against the deutschemark over the next year. However, the pound could lose ground against the strengthening US dollar. Alan Budd reports Alan Budd Professor Budd is the economic adviser of Barclays Bank The bank of England
        1,022 words
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        Packaging the policies to suit the child
        957 25  -  COVER By Alan Street Professor Street is with the NT!. This article was contributed by the Life Insurance Association of Singapore WE HAVE in previous articles in this series talked about the various standard types of polices. Whole Life. Endowment and Term are
        957 words
    • JOBS
      • Article, Illustration
        A venture into Myanmar
        1261 26  -  Some Singapore companies are heading for Yangon. But what sort of a life can an expatriate expect in Myanmar? What are the pitfalls and the pluses of doing business there? Harish Mehta reports. Harish Mehta YOU HAVE developed cold feet. You have been asked to take
        1,261 words
      • Article
        Bright future for female managers
        473 26  -  Growth in SE Asia augurs well for female managers, a symposium speaker says. James Snyong reports from Kuala Lumpur James Shyong CAREER advancements for women managers in Southeast Asia arc likely to be bright in the 1990s and beyond given the increased investments in various
        473 words
      • Article, Illustration
        EXECUTIVE MOVES
        391 26 \lr 11 WE Riedlin has been appointed Regional Manager, South-east Asia Region, of Algemcnc Bank Ncdcrland NV. Based in Singapore he will be responsible for the supervision and coordination of banking services provided in India. Thailand, Malaysia. Sri Lanka. Indonesia, Australia and Singapore. Prior to his appointment he
        391 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1106 27 City Flight ETA Flight no City Flight ETA Flight LTD SQ228 QF81 1910 2010 QF82 2115 MH644 MH/SQ 671 1720 1800 SQIIO SQ112 MH631 MH610 1445 1545 1610 1715 Amman RJ83 1 3350 MH643 1730 Amsterdam SQ23 KL837 1345~ 1505 KL838 SQ24 2150 2215 MH644 MH613
      1,106 words
    • THE TRAVEL PAGE
      • Article, Illustration
        They call it 'The University'
        423 27 LETTER FROM OXFORD A PRECIOUS and rather feeble Oxford joke is sometimes told about the American tourist who stops an undergraduate in the High Street and asks to be directed to the University. At this point, those in the know are supposed to chuckle over
        423 words
      • Article
        MONEY CHANGER RATES
        151 27 As aft 3pm yesterday: Ix>cal dollars to one unit of foreign currency C urrcncics Bid Offer Australian dollar 1.3260 1.3460 Canadian dollar 1.4850 1.5050 NZ dollar 1.0200 1 0500 Sterling pound 3.2600 3.2900 US dollar I.73SO 1.7500 Ixxal dollars to 100 units of foreign currency Austrian schilling
        151 words
      • Article
        WORLD TRADE EXHIBITIONS
        59 27 Duration Title Venue Organiser Tel Duration Title Venue Organiser Tel March International Turin. Italy Torino Esposmoni (39)1165 69 March International Germany Hamburg Messe (49)40/***** 14-24 Home Exhibition S.pA 15-20 Exhibition for Und Congress the Hotel. GmbH Mar 14. 15 Tourism 20(10 Shangn-La Malavsian 03-*****14 Restaurant; Hotel. Strategic
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    • TIME OFF
      • Article
        THEATRE
        229 28 Regular Concerts Conductor Lim Yau. Featur- j ing soloist Soprano Merlyn Quaife. The programme features Mo/art's works. Victoria Convert Hall, hulay at X. 15pm Ballet: Jack The Bean Stalk The Singapore Dance The- j at re will he presenting a delightful children's ballet with the dancers playing the different
        229 words
      • Article, Illustration
        EXHIBITIONS
        223 28  -  ompiled by K Jayanti Exquisite Chinese Antique Exhibition Exquisite treasures of the Qing Dynasty, each of great historical value. Showpieces on display include cabinets, chairs, potteries and carpets 2nd i'lr, Nixon Arts <£ Handicrafts Gallery. People's Park Centre. On till tomorrow. Ioam-Iopm Tiong Tian Tong Works In Oil His
        223 words
    • Article, Illustration
      CINEMA
      643 28 Dances With Wolves Kevin (ostner does a jig with a nervous wolf and is immediately baptised by the Siouxs with a Red Indian name. II you think that's intriguing, consider the fact that this threehour Western, directed by ('ostner himself, also won a Ciolden Globe for Best Picture as
      643 words
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      142 17 iHHHHHHHHHHHHHM "I WANT YOU TO RIDE FOR ME AT ROYAL ASCOT." ypi wf 15% i^r^fiSli^BL^ will f 111 Uttk M 1 JKSTf 1 1 V B 1 i IB 1 1 If k-^kii^^^^H i .VH V\ybffSnT H f™ 3 OMEGA The watch that records the world's significant moments. >.$ At
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      Page 18 Miscellaneous Column 1
      61 18 DOONESBURY BY GARRY TRUDEAU i wonder hoiu you said solpiers pontreauy hght I okay, maybe PAY'S MAKING u LOSING (PEALS, OR FOR. COUNTRY, LETS NOT NOTTHEUUIOUT THE PLATOONS ORFORGOP. WE H6HT POREAM GET CAR TENANT BUT NOT THESAMe YOUOFUHAT OTHER AFTER SIX MONTHS IN THE RtEPAWffY TVE PEffNTTEIY WITHOUT HIM...
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      205 20 WHERE TO WINE, DINE AND ENTERTAIN WHERE TO WINE, DINE AND ENTERTAIN WHERE TO WINE, DINE GENUINE PENANG FARE LET OUR PENANG CHEF INTRODUCE HER NEW RECIPES AT THE NEWLY RENOVATED PRINCESS TERRACE CAFE THE PLACE FOR AUTHENTIC PENANG SPECIALITIES. A RENDEZVOUS FOR FINE MEALS AT CAFE PRICES. OR LIGHT
      205 words
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      Page 20 Advertisements Column 2
      355 20 FEAST I YOUR EYES llll! mill *****1 l ON THE PLUM'S TEWELS lIIIIIHIIIIIIIIIIIIII OF THAILAND From Ist March 17th March five of the finest exponents of Thai Cuisine will masterfully prepare a plethora of appetising dishes The buffet will be available for both lunch (12 noon 2.30 pm) and dinner
      355 words
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      Page 20 Advertisements Column 3
      329 20 Have Poolside "BBQ Buffet" Under the Stars! i <T Now, besides our weekend steamboat buffet is the neu Barbeque Buffet. 1 BBQ Buffet Adult: $I7.(X)++ Child: $11 M++ AiuiLthle imh on fine ucuther J vA*^/ Steamboat Buffet* V Adult: $14.50++ So head for Sky Garden Ibolsuleu here you get more
      329 words
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      Page 20 Advertisements Column 4
      304 20 For the next three weeks, British Buffet Lunch [Ijjln we'll treat you like royal- Marc j, 21 UJ||?j tv at our Bntish Buffet. ln With over 60 traditional n I favountes, you'll be back Adult $$6 for seconds, thirds... Child below 10 $18+ j|f|f|?l We serve the world to you
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  • Page 20 Miscellaneous
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      272 21 AND ENTERTAIN Brunch Is A Family Affair Every Sunday. SUNDAY BRUNCH: HAM TO CHILDREN jjjfi Jfm^ 7 Sl9.cc 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. Ik ANA HOTEL 16 NASSIM HILL, SINGAPORE
      272 words
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      Page 21 Advertisements Column 2
      97 21 SUNDAY M FAMILY H BRUNCH RS $13 H (S7 for children under 12) Hjk*H TEEOFF CAFE BS3 BAY GOLF COUNTRY CI.UB KSI 6 MARINA CREEN SINGAPORE 0101 FOR RKSERV ATIONS PI .EASE CAI .1. 221 281 4221 .> ,-a 'H 'v I T he freshest, liveliest seafood place in town.
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      14 25 ,c 1 F -vfc: changed your whole life we will help plan your tomorrows.
      14 words
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      Page 25 Advertisements Column 2
      163 25 INVESTING IN SHARES? CALL ASK FOR CREDIT PLUS When opportunity knocks you'll want to be It's so easy and convenient to apply for CREDIT ready. Here's where Hong Leong Finance PLUS. Drop by any of our 28 conveniently located and Singapore Finance can help. offices or call LISA, our new
      163 words
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      Page 26 Advertisements Column 1
      272 26 BUSINESS TIMES TELEPHONE: 730-5937/5902/5942 FAX: 734-4982 SOCIETE m THE BANK; In terms of assets the 18th largest in the world. "AAA" rated by Moody's. Conveying the highest level of se< urity rating possible. THE mSITION: Regional Head I (Private Banking International) Tl IE CANDIDATES: In cx< ess of 5 years
      272 words
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      Page 26 Advertisements Column 2
      168 26 DHL IN THE NEWS Advertisement CUSTOMER SERVICE THE DHL WAY DHLs commitment to sive to customers'queries for tries; by utilising the conveservice quality is something booking a shipment, ordering nient frequencies of more that is central to its business, supplies, or tracing a con- than 172 scheduled airlines DHLs Mission
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      262 27 I Consider a set of books used by professional advis- I I J 6 Smart unknowledgeable determine 10 Naval female architect (4) 15 I I I I I T I J 13 Running away feeling ill (7) one ply from the shoulder (6) 16 I have discovered a Greek 1
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      Page 27 Miscellaneous Column 2
      170 27 World forecast Asia-Pacific Hi/Lo* Cond. Auckland 24/13 Fair Bangkok 35/25 Fair Beijing 06/-5 Sunny Brunei 33/25 Fair Hongkong 27/18 Sunny Jakarta 30/23 Fair Kuala Lumpur 35/24 Fair Manila 32/25 Fair Melbourne 23/12 Cloudy Perth 32/24 T-Storm Seoul 10/01 Rain Sydney 24/18 Sunny Taipei 26/18 Cloudy Tokyo 12/07 Sunny Wellington 27/12
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      Page 27 Miscellaneous Column 3
      34 27 not IDON'T "iOJ see sue &ELeve. IT! -iwe S r^ Due yNT 'i- rvvT\r ,L 7' hav& PLANN6D j miSS PReTi-V U)€£X J V 0 \l IT f \s V y 8368 I v
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      Page 28 Miscellaneous Column 1
      1851 28 TODAY'S TV JMMAaJ%. Famous. Show. JPMBA 130 Italian Soccer 9.00 Children's < 10.00 The Bugs Bunny Show 1 320 Malay Movie Isabella. 10.30 Batman (Cartoon) Set Me Fre«, 10.15pm, SBC 8 Aqu3.ent.re, 7pm, SBC 5 jS 'JMfINBI SS N }|U lt^" lM w Kr, no. this is not a bondage
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      Page 28 Miscellaneous Column 2
      586 28 movies on tv Lawrence of Arabia, Mon, sor and threaten to delete 9.30pm, SBC 12 him unless they get their inA white man is leading his dependence. A 1988 comedyArab friends to a desert cum-thriller with an unshowdown. No, this is not known cast. General Schwarzkopf we're w st Sjde
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