The Business Times, 13 July 1991
1991-07-13
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The Business Times
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Title Section11 1991-07-13 1 Business Times MCI (P) 16/12/90 Weekend Edition, July 13-14 1991 75*11 words
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NEWS & MARKETS SUMMARY
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Article43 1991-07-13 1 WALL STREET stocks were firm in mid-morning trading yesterday but blue chips erased most gains despite continued strength in the bond market. After rising about 16, the Dow was up four to around 2964. Gainers outpaced losers by three to two.43 words
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Article42 1991-07-13 1 BRITISH shares were lower at midday yesterday on profittaking following strong advances earlier in the week. At 1100 GMT, the FTSE 100share index was down 10.7 point, or 0.4 per cent, at 2,499.8. Volume was a moderate 249.7 million shares.42 words
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43 1991-07-13 1 MUNICH Growth in west Germany's 1991 gross national product (GNP) will exceed the Bonn government's earlier forecast of 2.9 per cent. Finance Minister Theo Waigel said. He did not, however, specify the rate of growth now expected.43 words
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Article46 1991-07-13 1 LONDON Nestle SA said it will close its Findus frozen food factory at Grimsby, Northern England, with the loss of 900 jobs over two years. A Nestle spokesman in London said the reason for the closure was declining demand for coated fish products.46 words
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Article32 1991-07-13 1 THE local textile and garment industry, which has consistently hit the $2 billion mark in output since 1989, is likely to dip below that figure this year Pag® 232 words
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Article38 1991-07-13 1 PARKWAY Holdings and its managing director Tony Tan face a US$6O million thirdparty action by a John Rodenhouse in Maryland, US. The action stems from a freight forwarding venture that Parkway formerly owned Page 338 words
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Article, Illustration29 1991-07-13 1 Friday Change BT-MGA 705.50 -1 11 Kuala Lumpur ....598.60 Tokyo 23,137.78 +199.86 Hongkong 3,915.17 +23.05 Sydney 1,531.9 -2.2 Thursday Change New York 2,959.75 -14.98 London 2,510.5 +2.129 words
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Article23 1991-07-13 1 Exchange rates USS ss 1.7635 100 Yen SS 1.2705 MS S$ 0.6321 Money market rates Overnight 1 -3 5/8 3-month 5-7/8 unch23 words
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Article37 1991-07-13 1 London GoM AM fix USS367.90 -USS0.95 S'pore Aug... 144.00*/kg unch Vfsia Aug 229.50*/kg unch KL Tin Turnover 36 tonnes +8 Spot MS 15.39 /kg -0.01 Crado palm oil Turnover. 1,422 lots +432 July MS801 /tonne -437 words
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345 1991-07-13 1 Hong Lee Tiam - First unit to open in Soviet resort town of Sochi By Hong Lee Tiam FLOUR-MILLER Prima Limited has gone into partnership with Aeroflot Soviet Airlines to set up a chain of duty free shops in the Soviet Union. Prima's wholly-owned345 words
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403 1991-07-13 1 Agencies NEW YORK Pan Am, the struggling carrier that was the nation's pioneer in commercial aviation, all but gave up its long fight for survival on Thursday by agreeing to sell the routes to Europe, Asia and Africa that helpedAgencies - 403 words
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Article, Illustration435 1991-07-13 1 Quak Hiang Whai - By Quak Hiang Whai A LEADING Indonesian business conglomerate is raising a US$l73 million (Ss3os million) term loan from the regional capital market to finance the bulk of a share purchase from a US group. Indonesian businessman Aburizal Bakrie, who heads plantation giant Bakrie435 words
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365 1991-07-13 1 WASHINGTON US sales at the retail level and the US Producer Price Index fell unexpectedly by 0.2 per cent and 0.3 per cent respectively in June. The sales drop was because of a broad falloff in demand for everything except new cars,365 words
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341 1991-07-13 1 S N Vasuki - By S N Vasuki IN A WIDELY expected move, the Bank of England cut interest rates yesterday by half a percentage point to 11 per cent. The cut came ahead of figures which show that Britain's inflation rate as measured by the Retail Price341 words
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Page 1 Advertisements
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Advertisement121 1991-07-13 1 Nikon ri■■■> flii iiiii ■■■■rifrilr Cu*4a«*i I nf ffono t rtntw Knoiogripnic oyiwm. COVER KL's growing pains. EL 1 J^H Aircraft Schedule EL 11 Commodities 15 Company Ne*s 3 Cryptic Crossword EL 11 Executive Jobs EL 10 Futures Options 14 Interbank Fore* Rates 14 Home News 2 klse io Money121 words
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Advertisement13 1991-07-13 1 PURSUITS British Film Festival. EL 6 A home away from home. EL 713 words
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Advertisement146 1991-07-13 1 Cartier keeps good tune. Evidence points to US recovery, Pg 7 »T Investment Race: Turn to Page ELB for the entry form that you win need to join the BT $100,000 investment challenge TW Are TW Wko Rwognise Tl>e rafl ()f Gerald And TKere Are Tkose lio Un Also Afford146 words
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Advertisement12 1991-07-13 1 Nikon ThtWbrtd'tßn—t PtWogmpHlc Byi»m. FINANCE OCBC: beneath that solid rode. EL 812 words
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Advertisement6 1991-07-13 1 JOBS Leadership by example. EL 106 words
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HOME NEWS
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NEWS ROUNDUP
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Article48 1991-07-13 2 SINGAPORE and Thailand yesterday signed a Memorandum of Understanding on logistics cooperation between the two countries' armed forces. The signatories to the MoU were General Sunthorn Kongsompong, the visiting supreme commander of the Royal Thai Armed Forces, and Singapore's chief of defence force, Lieutenant-General Winston Choo.48 words
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Article93 1991-07-13 2 THE Kelantan state government will organise "Kelantan Week" here in September to help strengthen trade and business relations. In conjunction with the event, an investment, cultural and tourism seminar will be held to woo Singapore investors to Kelantan, Deputy Mentri Besar Haji Mohamad Rozali Isohak told a"93 words
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Article60 1991-07-13 2 SINGAPORE and Malaysia have agreed to a $5 million joint tourism promotion campaign over the next four years targeted at key markets of Scandinavia, Korea, the US and Canada. The campaign Fascinating Malaysia, Surprising Singapore, two great countries, one great holiday will involve audiovisual presentation, poster-leaflets60 words
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199 1991-07-13 2 SINGAPORE should attract outside talent, from places such as the US, China, India and Europe, to be researchers and post-graduate students in its universities. With the present mild recession in the US and the budget squeeze in its universities, it is the199 words
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Article, Illustration418 1991-07-13 2 Claire Leow - Export-oriented industry hit by US recession By Claire Leow THE textile and garment industry, which has consistently hit the $2 billion mark in output since 1989, is likely to dip below that figure this year. Cheung Wai Keung, president of the Textile and Garment Manufacturers'418 words
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406 1991-07-13 2 Sylvia Wong - By Sylvia Wong DEPARTMENT store chain Metro Pte Ltd will expand its specialty retailing business into arts and crafts shops with the first of these openings at the Tang Dynasty Village. The locations of the other arts and406 words
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232 1991-07-13 2 THE mushrooming of kara-2 oke lounges in residential areas has prompted the Urban Redevelopment Authority l (URA) to amend current r rules governing the setting up of these Japanese-inspired "singalong" clubs. These amendments will be made under the Planning (Use Classes) rules, where232 words
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SHIPS IN PORT
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Article401 1991-07-13 2 V«mI *o* N# Berth fcmal Depart™ Vend Voy No Berth Mi* Departut SS l Sr U Tern S? 1 1 M05 alongside 1207/2300 S"5 07/01*1 J1 alongade 13 07/2300 B*L* 1 67S M03 alongside 12.07/1730 Chuan Fu No II M/5 atongs* 3.07 2300 3,ast»i 1 27/91 M02401 words
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Article1373 1991-07-13 2 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Book ri/Balance Rdts Sty Voy No Etb/Btr Period From To From AHa 507N 1V0700 1 12/1659 12/1900 3 13/0700 13/1159 13/1*00 As Pegasus 271 13/2230 1 12/1500 12/1659 12/1900 2 12/1700 13/0659 13/0900 iTiMvv 02E 13/2359 1 12/1500 12/16591,373 words
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SINGAPORE – MALAYSIA COMPANY NEWS
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305 1991-07-13 3 Elaine Koh - By Elaine Koh PARKWAY Holdings and its managing director Tony Tan face a US$6O million thirdparty action by a John Rodenhouse in Maryland, US. The action stems from a freight forwarding venture that Parkway formerly owned. However, the propertybased group said in a305 words
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485 1991-07-13 3 Lee Han Shih, Sangeeta Mulchand - By Lee Han Shih, Sangeeta Mulchand A RIGHTS issue proposed by Alliance Technology and Development (formerly known as Ambassador Holdings) is creating a situation which could see its chairman Chang Ching Chuan taking the company private. Alliance Technology is485 words
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Article946 1991-07-13 3 PrtoM»at 12.07.91 Conversion t«m Pnmkm/ Expiry (discount) nmiii 1 Optional** using issaad Company (ml Wrts Start Loan Conv Exer Lastk Cask Cash Loan Gaarlag, Data Htta ■nits) stack ratio prtea nom Stk- Loft value Burw.li 115.2 0 240 0 840 1.00 1 00 48 350 30/06/94946 words
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283 1991-07-13 3 Elaine Koh - By Elaine Koh PARKWAY Holdings has announced its involvement in the commercial redevelopment of the Anson Road site owned by the Shell group. It was earlier reported in BT that the two groups were looking into such a project, which should283 words
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407 1991-07-13 3 Claire Leow - By Claire Leow AS THE WEEK drew to a close yesterday, CSA Holdings' grey market price dipped, while SAL Industrial Leasing's held firm before the close of its offer on Tuesday. CSA shares traded between $1.00 and $1.02 each, down from a range407 words
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Article253 1991-07-13 3 Bernama KUALA LUMPUR Malaysian General Investment Corp Bhd (MGIC) yesterday proposed to take a 22 per cent stake in publicly listed Far East Holdings Bhd with the acquisition of 12.32 million ordinary shares of Msl each for M 523.408 million. It also proposed toBernama - 253 words
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169 1991-07-13 3 Agencies KUALA LUMPUR Malaysia's electricity corporation, Tenaga Nasional Bhd (TEN), which is expected to be listed on the Kuala Lumpur Stock Exchange next May, has signed a M 51.34 billion loan from 12 European banks to finance a hydroelectric dam project in theAgencies - 169 words
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207 1991-07-13 3 FOOD MANUFACTURER Tee Yih Jia said it has not held any discussions with electronics firm Acma Ltd on a possible tie-up. In a letter to BT yesterday, Tee Yih Jia also said neither has any official representing Acma discussed a possible tie-up207 words
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114 1991-07-13 3 TIMES PUBLISHING LTD has entered into a shareholders agreement with Malaysia's Lembaga Urusan dan Tabung Haji under which the latter will subscribe to 30 per cent of the issued capital of Times Offset (Malaysia) Sdn Bhd. Times Offset, which was established in July114 words
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COMPANY BRIEFS
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147 1991-07-13 3 KUALA LUMPUR Austral Amalgamated Tin Bhd, which is proposing a one-for-two bonus issue, yesterday announced a diversification into property development with the proposed acquisition of Danau Kota Development Sdn Bhd. The purchase consideration is M 552.5 million to be satisfied by the issue of 37.5147 words
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Article107 1991-07-13 3 SUN CORPORATION Ltd has informed the SES that on June 20, 1991, it acquired through its wholly-owned subsidiary, Sun Intertrade Pte Ltd, the entire share capital of 25,000 shares of 1 each at par value of Unicentral Shipping Pte Ltd. Unicentral's principal business is freight107 words
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Article65 1991-07-13 3 HORIGUCHI ENGINEERING has informed the SES that it has received notice from John Govett Management (Jersey) Ltd advising that The Singapore SESDAQ Fund Ltd is now a substantial shareholder of the company. The fund purchased the shares through private placement and has an interest of 1.55 million65 words
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Article144 1991-07-13 3 KUALA LUMPUR The proposed unconditional cash offer by Hongkong-based Marlestone Investments Ltd to acquire all of the issued and paid-up capital it does not already own in Tanjong Tin Dredging pic is fair and reasonable, said Bumiputra Merchant Bankers Bhd. Minority shareholders who are144 words
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162 1991-07-13 3 DBS CHARITY g—IM DBS ASSET Management continued to lead the DBS Charity Investment Race this week but its accumulated profit fell below the $100,000 level for the first time in more than a month. Amid the current bearish market conditions, all162 words
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Page 3 Advertisements
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Advertisement101 1991-07-13 3 FOR WHO, WHAT, WHERE AND WHEN in MARKET. ADVERTISING MARKETING, in BUSINESS TIMES every Thursday, covers a vital sector of the economy comprising the country's communications muscle. The page monitors business developments and the players in both international and Singaporean advertising agencies; it charts and reports on trends in public101 words
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REGIONAL/INTERNATIONAL COMPANY NEWS
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COMPANY BRIEFS
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87 1991-07-13 4 PITTSBURGH, Pennsylvania Westinghouse Electric Corp said it expects its earnings for the second half to be down 25 per cent or more from a year earlier. In the 1990 second half, Westinghouse's earnings were US$l.B4 (553.24) per share. "Our expectations of an early and strong87 words
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Article68 1991-07-13 4 LONDON Lonrho pic said it was suing two of the three A 1 Fayed brothers and the House of Fraser for conspiracy to injure during the A 1 Fayeds' 1985 takeover of the stores group. The action is part of a long and bitter battle between68 words
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Article70 1991-07-13 4 WELLINGTON Brierley Investments Ltd founder president Sir Ron Brierley has sold 25 million shares in the company that he founded 30 years ago in a move which further weakens his links with the holding company. The shares equate to about one third of his stake,70 words
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Article44 1991-07-13 4 PARIS A commercial court on Thursday declared French personal computer firm SMT-Goupil bankrupt, a Goupil spokeswoman said. Goupil filed for bankruptcy in June, saying that if a rescue plan was not put together it would have to be liquidated.44 words
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Article46 1991-07-13 4 SYDNEY Daiwa Securities Co Ltd Australian unit Daiwa Securities Australia Ltd has applied to become a member of the Australian Stock Exchange (ASX), according to a Daiwa spokesman. Daiwa Securities Australia already has investment banking, underwriting and funds management operations in Australia.46 words
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Article64 1991-07-13 4 NUREMBERG, Germany Consumer electronics group Grundig AG said group net profit in the 1990/91 fiscal year which ended March 31, rose to 190 million marks (SSI96 million) from last year's 147 million marks. A company statement also said sales last year surpassed the target of four billion64 words
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Article59 1991-07-13 4 TOKYO Mitsubishi Estate Co Ltd bought an additional 22.4 per cent of the Rockefeller Group Inc (RGI) for US$4l6 million, boosting its stake to 80 per cent of the US company, a spokesman for Mitsubishi said. This is the third and final sale of RGI shares59 words
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Article69 1991-07-13 4 LONDON Officials at British leisure group Rank Organisation pic, which earlier reported a 30 per cent dip in six months pre-tax profit, said on Thursday it was clear 1991 was harder than the company had anticipated. Chief executive Michael GifTord said he was bloody69 words
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Article, Illustration605 1991-07-13 4 FT TOKYO Japan's financial troubles have struck at one of the country's most cherished institutions the golf club. One of Japan's leading dealers in golf club memberships, Ginza Golf Service, on Thursday filed for court protection with outstanding debts of 260 billionFT - 605 words
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315 1991-07-13 4 BANGKOK The country's multi-billion-baht telephone project has sailed into troubled waters again with Thailand's Charoen Pokphand (CP) Group reported to be unlikely to sign a contract with the Thai government because a draft agreement was "distorted", the Bangkok Post reported earlier this week.315 words
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Article, Illustration214 1991-07-13 4 AFP SYDNEY Rupert Murdoch's News Corporation is reported to be negotiating the sale of half its Australian and Asian commercial printing operations to the giant US printing company RR Donnelley and Sons. The price being discussed is believed to be between AS2OOAFP - 214 words
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360 1991-07-13 4 Reuter WELLINGTON Shares in Telecom Corp of New Zealand Ltd will list around NZ$2.2O (552.20) each when trading begins, probably next Thursday, sharebrokers and analysts say. The owners, Ameritech Corp and Bell Atlantic, are offering the shares at a NZ$l.BO toReuter - 360 words
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429 1991-07-13 4 Shoeb Kagda - They are SIA, DBS, OCBC and UOB By Shoeb Kagda SINGAPORE Four Singapore firms were listed among the top 1,000 companies in the world in the 1991 Business Week survey of the world's most valuable companies. Singapore Airlines, capitalised at US$4.B billion429 words
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509 1991-07-13 4 NYT NEW YORK As a first step towards establishing a joint software development company with Apple Computer Inc, IBM announced on Thursday that it would buy Metaphor Inc, a Silicon Valley software developer. Metaphor is reported to be the focal pointNYT - 509 words
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198 1991-07-13 4 Reuter WELLINGTON The New Zealand Stock Exchange (NZSE) said it will delist 17 companies, most of them in financial difficulty, from its trading list from the close of business on July 31. "This follows a review of the circumstances ofReuter - 198 words
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408 1991-07-13 4 JAKARTA The Indonesian Minister of Tourism, Post and Telecommunications Soesilo Soedarman, has officially launched PT GowaMakassar Tourism Development Corporation (PT GMTDC), the developer of a new 800-hectare tourist resort in Tanjung Bunga, off the coast of South Sulawesi. Earlier this week, the408 words
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FINANCIAL NEWS
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354 1991-07-13 5 Koichi Ishiyama - The BCCI crisis From Koichi Ishiyama IN TOKYO TOKYO The suspension of the operations of the Tokyo branch of the collapsed Bank of Credit and Commerce International SA (BCCI) is worrying Japan's Finance Ministry. 1 Some 50 billion yen (SS63O million) worth of354 words
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Article, Illustration430 1991-07-13 5 DBS Bank weekly currency review US/Dm: once again target 1.8590 The US dollar reached a high of 1.8430 marks last Friday before reversing to close at its day's low of 1.8255. Further losses were seen on Monday as it continued to slide through430 words
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538 1991-07-13 5 AFP ABU DHABI The United Arab Emirates (UAE) affiliate of the scandal-hit Bank of Credit and Commerce International (BCCI) has said it wants to quit the holding group and become a wholly locally-owned institution. The board of the Bank of CreditAFP - 538 words
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250 1991-07-13 5 Dawn Tan - By Dawn Tan HONG LEONG Finance Group will launch a new service facility this Monday, exclusively for Hong Leong Finance and Singapore Finance customers. Called Personal Customer Service, this would enable customers to walk into any of Hong Leong's 28 branches and purchase250 words
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179 1991-07-13 5 Reuter WASHINGTON US Treasury Secretary Nicholas Brady reiterated his request for as much as US$BO billion (*****.2 billion) in loss funds to allow the Resolution Trust Corp to finish its disposal of failed savings and loans. "We request sufficient loss funds toReuter - 179 words
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SMALL CHANGE
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58 1991-07-13 5 SINGAPORE Wardley Investment Services, the investment management arm of the Hongkongßank Group, yesterday appointed Gregory Peter Miller as its new chief executive officer and director, replacing John Quinn who will take up an appointment in New York. Prior to joining Wardley Investment Services, Mr58 words
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Article54 1991-07-13 5 PARIS French stockbroker DG Bourse is negotiating its sale to Baring Securities, subsidiary of the UK investment bank Baring Brothers Co Ltd, itself a unit of Barings pic, DG Bourse president Jean-Pierre Nylin said. DG Bourse is wholly-owned by DG Finance, a subsidiary of Germany's54 words
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Article56 1991-07-13 5 NEW YORK JP Morgan and Co Inc's second quarter earnings were solid with very strong margins, reflecting lower short-term interest rates, analysts said. It earned US$l.l7 (552.09) a share this quarter, versus US$l.4O in the first quarter, mostly because foreign exchange trading results were weaker56 words
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Article49 1991-07-13 5 FRANKFURT Dresdner Bank AG said it had merged its eastern German banking operations with those of the parent bank by raising its stake in the Dresden-based Dresdner Bank Kreditbank AG to 100 per cent from 85.9 per cent. The merger is backdated to January 1.49 words
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Article85 1991-07-13 5 JERUSALEM Sixteen banking officials and four banking groups blamed for a collapse in their share prices went on trial, eight years after a crash that cost the government US$7 billion (S$ 12.53 billion). The banks and bankers are accused of illegal manipulation of bank shares85 words
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Page 5 Advertisements
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Advertisement10 1991-07-13 5 Absolument V V." "4' V < a:'. .4-feSfo ':.-..i. i V..10 words
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Page 5 Miscellaneous
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Miscellaneous20 1991-07-13 5 DOLLARS AND NONSENSE 2 ll=si 1 Pll t\ "I'm an idealist—l'd like to make my pile at a non-profit organization."20 words
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THE REGION
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NOTE BOOK
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60 1991-07-13 6 BANGKOK A former government spokesman and leading economist has been named a deputy minister in Prime Minister Anand Panyarachun's administration. Pridiyathorn Devakul, 44, was appointed deputy commerce minister to assist Commerce Minister Amaret Sila-on, Radio Thailand announced on Thursday. Mr Amaret has recently come60 words
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Article116 1991-07-13 6 UNITED NATIONS The five permanent members of the Security Council intend to meet in Beijing on July 18 and 19 in another effort to promote UN peace accords for Cambodia. A US official said on Thursday that the meeting will follow an unusual two-day session of116 words
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Article87 1991-07-13 6 BANGKOK Police and customs men yesterday arrested 23 people and confiscated some 200,000 smuggled watches and electronic appliances in their biggest crackdown so far on contraband trade. Major Preecha Sunthornsiri said the value of the haul siezed from Klong Thom market, a well-known shopping area in Bangkok's87 words
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Article89 1991-07-13 6 BANGKOK More than a year after failing to hand over power to Burma's democratically-elected opposition, the ruling military junta has ordered that opposition members be stripped of their parliamentary seats and banned from elections. The decree applies to all those elected to the country's National Assembly89 words
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Article47 1991-07-13 6 JAKARTA The death toll from last week's earthquake on Alor island in eastern Indonesia has risen to 28 after five people died while under medical treatment. The official Antara news agency said yesterday that the number of injured people now totalled 191.47 words
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332 1991-07-13 6 KUALA LUMPUR The government will establish six specialised industrial zones in various parts of the country over the next five years to promote the development of six manufacturing-based activities, the New Straits Times reported yesterday. The industries are high technology, plastic, foundry, engineering, wood-based332 words
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395 1991-07-13 6 AFP BANGKOK Thai Prime Minister Anand Panyarachun, underscoring the country's steadily growing ties with Japan, said his forthcoming visit to Tokyo was central to efforts by Thailand to regain world respectability after the military coup here earlier this year. The visit later thisAFP - 395 words
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Article, Illustration352 1991-07-13 6 Bernama KUALA LUMPUR South Korea, Malaysia's seventh largest foreign investor last year, is now ranked third after Japan and Taiwan, based on its total proposed investments of US$592 million (SSIOO6 million) for the first five months of this year. International Trade and IndustryBernama - 352 words
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183 1991-07-13 6 AFP MANILA The Philippines is maintaining its demand of US$B25 million (*****2 million) for a seven-year new US lease on major bases even if one of the facilities may be abandoned, Foreign Secretary Raul Manglapus said. Mr Manglapus, head of the Philippine panelAFP - 183 words
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Article, Illustration49 1991-07-13 6 Local PLA soldiers (right) distributing food to flood-stricken villagers on their makeshift rafts as their town lies under water. Months of relentless rains have killed close to 1,300 people and left millions homeless and without proper food and water in China's Jiangsu Province.49 words
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196 1991-07-13 6 AFP BANGKOK Thailand's overheated real-estate sector will continue to suffer under the present tight money market situation while the country's general economic conditions should gradually improve later this year. This was the prognosis of the Thai economic situation by Prime Minister Anand Panyarachun duringAFP - 196 words
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183 1991-07-13 6 MANILA The Philippines will review a fishery agreement signed earlier this week with Taiwan that drew a protest from China. Foreign Secretary Raul Manglapus told a news conference on Thursday that the Philippine team sent to Taipei and later signed the document may183 words
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182 1991-07-13 6 Reuter JAKARTA China has complained to Jakarta about < the visit of a high-ranking 1 Taiwan official, saying it will not accept any gesture supporting the idea of "Two Chinas". The Kompas daily yesterday quoted a Chinese diplomat as saying: "We are against anyReuter - 182 words
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Page 6 Advertisements
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Advertisement320 1991-07-13 6 POWER INTO THE 905... MCSB TRICORD PRESENTS I SUPER-SERVER COMPUTING SYMPOSIUM I?! 11 ii! fIHHH IMI I II fBilS 9 J S|g| B>J| WT I fi I fl II fl J ft I SP|i§S i|ls ST- I i His SsiA till Time: Session I (9.00 am 12.00pm) or Session D320 words
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THE WORLD
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483 1991-07-13 7 Economic data expected to show recession has ended AP WASHINGTON After months of gloom, the government's economic reports are finally offering some good news. Consumers are starting to spend again, albeit cautiously, and inflation is low. Even the normally cautious chairman of the FederalAP - 483 words
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Article, Illustration386 1991-07-13 7 AP KENNEBUNKPORT, Maine US President George Bush said on Thursday that he will visit Japan sometime near the end of November, and officials said he would travel to South Korea and Australia as well. Mr Bush announced his intention toAP - 386 words
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227 1991-07-13 7 Reuter WASHINGTON Senate Republican leader Robert Dole said on Thursday he was confident he would have the votes to sustain a veto by President George Bush of legislation imposing conditions on US trade with China. Mr Dole was responding toReuter - 227 words
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422 1991-07-13 7 Reuter MOSCOW President Mikhail Gorbachev could surprise the West next week with new proposals on economic reform, including measures that once and for all would "lift the Iron Curtain" on foreign investments, Soviet government leaders said on Thursday. Prime Minister Valentin Pavlov toldReuter - 422 words
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WORLD WATCH
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82 1991-07-13 7 SEOUL The government yesterday released an economic plan forecasting an average 7.5 per cent growth in the next five years. The plan, released by the Economic Planning Board, predicted moderate growth in gross national product in 1992-1996, compared with an average 10 per cent growth82 words
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Article61 1991-07-13 7 WASHINGTON The US fears that granting Taiwan membership of Gatt before China may increase tension in that part of Asia. A senior administration official, who spoke with reporters on condition he was not identified, said the matter is being discussed with Congress, where a61 words
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74 1991-07-13 7 NICOSIA Saudi Arabia and China will sign an agreement on economic and trade cooperation soon, a joint statement issued in Jeddah said. The statement, carried by the Saudi Press Agency SPA on Thursday night, followed a three-day visit to the Saudi Red Sea port74 words
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Article97 1991-07-13 7 SEOUL South Korean President Roh Tae-Woo has called for the signing of a peace treaty with North Korea to repiaoe the Armistice Agreement concluded after the Korean Waf. "In order to firmly establish peace on the peninsula, it will be necessary to adopt a97 words
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Article98 1991-07-13 7 MUNICH Nearly three-quarters of a million industrial jobs will disappear in eastern Germany by the end of. the year, a study conducted jointly by two research institutes has concluded. The study, released on Thursday, said the industrial workforce would drop to I.S million in December fnrfm98 words
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Article, Illustration59 1991-07-13 7 Vendors at Moscow Central Market waiting in vain for customers on Thursday. The prices at the market are very expensive for the average Soviet while the state shops remain empty. A report showed that butter, cheese and meat production in the59 words
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353 1991-07-13 7 AP NEW DELHI The new government has outlined a programme to unlock India's insulated economy, and it could allow foreign investors to hold a majority interest in Indian companies for the first time. The government plans to shed public companies and lift living standards ofAP - 353 words
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523 1991-07-13 7 Reuter SHENZHEN, China Walk into the best hotel in Shenzhen, communist China's experiment with capitalism, and try to tip the bellboy with Chinese currency. "We don't use that here. That's absolutely useless," sniffed one young man recently, fiddling with his flat bellboy's cap. "I wantReuter - 523 words
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242 1991-07-13 7 Reuter GENEVA Brazil, in a bold move, has told its trading partners it is renouncing its right as a developing country to restrict foreign imports because of balance of payments difficulties. The action followed a wide range of measures to liberalise trade takenReuter - 242 words
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Page 7 Advertisements
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Advertisement95 1991-07-13 7 FAR EASTERN FREIGHT CONFERENCE Notice to Shippers General Rate Increase The Member Lines of the Far Eastern Freight Conference have decided to introduce a general rate increase in two stages with the first step being a rise of US$2OO per teu effective 1 October 1991. The second step will be95 words
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STOCK EXCHANGE OF SINGAPORE 1
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Article, Illustration4860 1991-07-13 8 Diana Oon - By Diana Oon "THERE was nothing to do, and the whole day to do it," this was how one dealer described the market yesterday. This sentiment was echoed by many, who said that most people were just sitting around waiting for4,860 words
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Article3834 1991-07-13 9 Main Board FELS 50* 685 +25 +3.8% DBS 1200 +10 0.8% CAC 560 +10 +1.8% OUB 540 +10 +1.9% Semb Maritime 414 +8 +2.0% Singmarine 50" 4% +6 +1.2% SPH 880 +5 +0.6% Spore Land 575 +5 +0.9% Causeway 60* 88+4% +5.4% Jurong Eng 50*3,834 words
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KUALA LUMPUR STOCK EXCHANGE
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Article, Illustration4139 1991-07-13 10 Bernama SHARE PRICES on the Kuala Lumpur market ended broadly lower yesterday as cautious investors liquidated their positions ahead of the weekend despite a higher Tokyo market. The KLSE Composite Index fell 5.16 points to 598.60, the first time it had fallenBernama - 4,139 words
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Page 10 Advertisements
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Advertisement7 1991-07-13 10 yk> HHBlfe fl|| I- j^fl "J* V@B7 words
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TOKYO STOCK EXCHANGE
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Article, Illustration2242 1991-07-13 11 Reuter TOKYO STOCKS closed with moderate gains in thin trade yesterday. Brokers said sellers were few and far between as fears of further sharp price declines faded, allowing small-lot buying to lift the market. Trade was lacklustre in the absence ofReuter - 2,242 words
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STOCK EXCHANGE OF HONGKONG
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Article, Illustration1911 1991-07-13 11 Reuter, AFP HONGKONG stocks ended higher yesterday despite sluggish sentiment and subdued trade, brokers said. The blue-chip Hang Seng Index climbed 23.05 points to 3,915.17, a sliver under an intraday high of 3,917. The day's high is narrowly below technical resistance of 3,920.Reuter,; AFP - 1,911 words
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Page 11 Advertisements
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Advertisement10 1991-07-13 11 Managers must manage. Business Times shows you how every Monday.10 words
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REGIONAL STOCK MARKETS
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Bangkok shares plunge on panic selling
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Article873 1991-07-13 12 THE Australian share market yesterday rebounded off early lows to end the week slightly weaker in quiet trade. A Bain Securities broker said investors were waiting for the market to move. "If it rises 50 points people will sell. If it drops 50 they will buy. It's in limbo873 words
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Article236 1991-07-13 12 INDiCES TURNOVER Cine PrevtoiB July 12 SYDNEY All Ordinaries Index 1,531.9 1,534.1 -2.2 All Industrials Index 2,347.2 2,347.1 +0.1 All Resources Index 906.1 909.7 -3.6 Turnover (million) 109.5 280.8 -171.3 BANGKOK SET Index 674.71 688.98 -14.27 Turnover (million baht) 3.680 2,130 1,550 JAKARTA Composite Index 328.62 328.56 +0.06 MANILA Composite236 words
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Article741 1991-07-13 12 BANGKOK investors, disheartened by the downward trend across the market, sold in panic, causing the index to plunge for the fourth straight day yesterday, brokers said. The SET Index lost 14.27 points to 674.71 on a turnover of 3.68 billion baht. The index had fallen 51.63 points, or 7.11741 words
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Article607 1991-07-13 12 JAKARTA share prices ended mixed in light trading yesterday, with the official index edging up 0.06 points to 328.62. Semen Gresik dominated yesterday's halfday trade, with 819,000 shares changing hands. Brokers said underwriters' intervention pushed Gresik 350 rupiah up further to 5,950, encouraging other prices up slightly. Jakarta <607 words
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Article601 1991-07-13 12 PHILIPPINE shares closed mixed yesterday after a failed attempt to rebound in a market vulnerable in the face of a natural calamity and government's political moves. Manila's Composite Index inched up 6.11 points to end at 990.25 on commercial/industrial gains. Minings and oils fell. "It was a tug-of-war between601 words
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Article348 1991-07-13 12 MORGAN STANLEY CAPITAL INTERNATIONAL INDICES July 11 Index Ii local currency day year change change In S$ day change ch yew In US$ day change ch year World 401.0 0.2 12.0 -0.1 6.7 0.0 5.5 JEAFE 518.5 -0.1 10.3 -0.2 1.6 -0.1 0.5 Europe 427.8 0.0 17.4 -0.4 -1.8 -0.3348 words
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Article507 1991-07-13 12 THE Taiwan stock index wavered to finish slightly higher as investors remained sidelined for good news to stimulate the market, brokers said. The Weighted Index gained 14.78 points to close at 5,327.10 compared with Thursday's 5,312.32 finish. Turnover fell to NTS 18.6 billion against NTS2O billion. "Investors were expecting507 words
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Article769 1991-07-13 12 SEOUL share prices climbed for the second day in a row yesterday in active trading. The Composite Price Index of the exchange soared 10.04 points to finish at 631.78. Advances barely edged declines 322 to 321 among the 768 issues traded. Volume reached 20.452 million units valued at 313.002769 words
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Article144 1991-07-13 12 SHARE PRICES in New Zealand eased on heavy volume yesterday but brokers are optimistic of a rising market next week. The Barclays Index fell 4.88 points to 1,487.30 on volume of about 24 million shares. Brokers said a report that Brierley Investments founder Sir Ron Brierley was selling144 words
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Page 12 Advertisements
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Advertisement21 1991-07-13 12 The Bombay report was not available Read Chartpoint, a guide (o investing in the stock market. Every Saturday in Business Times.21 words
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WORLD STOCK MARKETS
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Wall Street gains slightly in dull trading
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Article, Illustration1336 1991-07-13 13 NEW YORK stock prices rose a little on Thursday in sluggish trading as investors waited for further news on the direction of second-quarter earnings. Summing up what appeared to be the tenor of the market, Edwin Walczak, chief investment officer of Vontobel USA, the American arm of Bank1,336 words
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Article, Illustration729 1991-07-13 13 LONDON share prices ended higher on Thursday, but well below the day's best levels, as early optimism about an interest rate cut gave way to profit-taking. Dealers said Britain's 11.5 per cent base lending rate could be cut soon after the release of Britain's June inflation figure, which is729 words
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Article204 1991-07-13 13 FRANKFURT share prices were mixed on Thursday, with the DAX Index ending the day 3.11 points higher at 1,637.85. The market had been awaiting news from a regular meeting of the Bundesbank, particularly whether it would raise interest rates, but the session did not finish until after the market204 words
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Article124 1991-07-13 13 INDICES TURNOVER NEW YORK Dow Jones NYSE Financial SAP 500 Turnover (million) July II Close Previous 2,959.75 2,944.77 +14.98 149.93 149.68 +0.25 376.97 375.74 +1.23 157.9 178 -20.1 LONDON Financial Times 30 FTSE 100 Turnover (million) 1.928.4 2.510.5 536.6 1,918.1 2,508.4 534.1 10.3 2.1 2.5 AMSTERDAM CBS Tendency Index 93.6124 words
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Article448 1991-07-13 13 DUTCH shares on Thursday ended just off the day's highs after a quiet session, buoyed by the Bundesbank's decision not to raise interest rates. "The market undertone is turning better now that the Bundesbank has decided to leave rates unchanged and there is speculation that UK rates will be448 words
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Article157 1991-07-13 13 THE PARIS bourse closed hardly changed on Thursday after France and Germany held official interest rates steady. Relief that the Bundesbank did not tighten credit was not enough. Firm French bonds also failed to lift shares. "What the market is crying for is a rate cut no less," one157 words
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Article319 1991-07-13 13 SWISS shares closed slightly lower in very quiet trade on Thursday. Dealers said volume was low throughout the session. "First the market waited for the outcome of the Bundesbank meeting in Frankfurt. When news came that the council had left rates unchanged, trading livened up for all of about319 words
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Article90 1991-07-13 13 THE Stockholm bourse General Index rose 0.81 per cent to close at a second consecutive year-high of 1,138.73 in moderate trade on Thursday, supported by lower interest rates and high liquidity among domestic investors. "The past few day's falling interest rates and continued high liquidity among institutional investors are90 words
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Article139 1991-07-13 13 BELGIAN shares scarcely moved in a calm start with trading worth just 102 million francs after the first 30 minutes yesterday morning. "It's summer and there's nothing like the Gulf crisis to motivate the bourse this time," one dealer said. The key Bel 20 Index of leading shares lost139 words
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Article316 1991-07-13 13 THE JOHANNESBURG stock market was subjected to a heavy, but healthy corrective phase on Thursday as share prices gave up a large chunk of their recent excessive gains on profit-taking. The JSE Industrial Index closed sharply lower at 3,968 after Wednesday's record high close of 4,036, while the All-Gold316 words
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Article251 1991-07-13 13 TORONTO stocks on Thursday ended a slow day slightly higher, as traders awaited second quarter earnings over the next few weeks. Technically there's a persistent, consistent weakness in the market," said Don Vialoux, vice-presi-dent at Richardson Greenshields. He said the technical weakness could cause the traditional summer rally to251 words
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Article156 1991-07-13 13 ITALIAN shares closed lower on Thursday despite a late rally in some sectors, as trading volume remained thin, with most operators continuing to remain on the sidelines. Brokers said trading in Fiat and Pirelli shares was slightly more active than recently. Fiat ordinary shares officially closed little changed from156 words
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Page 13 Advertisements
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Advertisement58 1991-07-13 13 You may have been unable to get your Business Times, Straits Times, Sunday Times, LianHe Zaoßao and other daily newspapers from your usual newsstand because of the higher demand lately. To ensure a daily copy, call Customer Services Section on 740-1839 or 740-1840, and ask for home or office delivery58 words
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CURRENCY, MONEY & FUTURES MARKETS
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1187 1991-07-13 14 REPORTS ASIA Tokyo: The US dollar yesterday ended >hghtly firmer against the yen and the mark on continued bullish sentiment after the Bundesbank kept interest rates unchanged overnight. However, exporter selling and preueekend position adjustments limited the dollar's rise1,187 words
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Article397 1991-07-13 14 Cross rates My 12 USS SJ MS Dm Yen SFr AS NZS SS 1.7620 2.7920 1.8370 138.80 0.6238 1.5920 1.3038 1.7825 SS 0.5675 1.5846 1.0426 0.7877 0.3540 0.9035 0.7399 1.0117 MS 0.3582 63.11 0.6580 0.4971 0.2234 0.5702 0.4670 0.6384 Dm 0.5444 0.9592 1.5199 75.56 0.3396 0.8666 0.7097397 words
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Article533 1991-07-13 14 Interbank rates SS Bid Offer Overnight 1 1 1/2 1-month 5 3/4 5 7/8 2-month 5 13/16 5 15/16 3-month 5 7/8 6 Overnight mode: 5 I >$ Bid Offer 7 da><i 5 15/16 6 1/16 1 month 6 6 1/8 2 months 6 1/16 6 3/16 3533 words
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428 1991-07-13 14 Reuter TOKYO The US dollar may be on the verge of breaking out of its recent narrow range against the yen, possibly falling to around 137.00 by next week, chartists said. Technical analysts said the dollar's 73 basis point rangeReuter - 428 words
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212 1991-07-13 14 Reuter WASHINGTON The National Association of Manufacturers said President Bush should push for lower interest rates at the upcoming economic summit to reduce the risk that the global economy would drift lower. The US trade group said too much emphasis wasReuter - 212 words
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Article1153 1991-07-13 14 SjjjEX ammoM c Open High Low Sett Est Vol Op/Int Vd S Sep 91 93.65- 93.66 93.64 93.64 4054 ***** 2621 93 66 Dec 91 93.07 93.05 93.05 4000 ***** 2775 Mar 92 92.96 92.98 92.95 92.95 1800 9175 873 S Jun 92 92.58 92.58 92.56 92.56 2501,153 words
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Page 14 Advertisements
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Advertisement5 1991-07-13 14 CHARTPOINT in BT every Saturday5 words
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COMMODITIES
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827 1991-07-13 15 REPORTS THE PRICE of tin slipped a sen to M$ 15.39 per kg on higher offerings on the Kuala Lumpur Tin Market yesterday. The London Metal Exchange, however, was up by US$lO overnight on a little bit of correction and the827 words
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391 1991-07-13 15 Reuter TORONTO Falconbridge Ltd is trying to neutralise the volatility of nickel prices on the London Metal Exchange (LME) by offering customers fixed price contracts, said John Gillies, senior vice-pres-ident of marketing and sales for the Sudbury, Ontariobased producer. Mr Gillies said Falconbridge,Reuter - 391 words
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307 1991-07-13 15 Reuter NEW YORK Guatemala expects a rise in its 1991/92 coffee production and favours a free market, said the country's leading producer trade group. William Stixrud, a director of National Coffee Association of Guatemala (Anacafe), said his country estimates 1991/92Reuter - 307 words
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Article1392 1991-07-13 15 :iKI—liiHilidif I'WMiij Rubber j u i y 12 MS (It f bato») S cents/kg Noon Close Int I RSS Prompt I43.00/144.00N 143 00/144 00N Int I RSS Aug 91 144 *****.50 144 00/144.50 Int I RSS Sep 145.50/146.00 145.50/146.00 Int 2 RSS OP 142.00/144.00N I42.00/144 00N Int 3 RSS1,392 words
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Page 15 Advertisements
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Advertisement11 1991-07-13 15 Your search for EXECUTIVE OPPORTUNITIES begins with the EXECUTIVE APPOINTMENTS page11 words
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Advertisement580 1991-07-13 15 BUSINESS TIME S TELEPHONE: 730-5771/5772/5773 FAX: 734-4982 IN THE MATTER OF THE COMPANIES ACT. CAP. 80 AND IN THE MATTER OF EXOTIC ORCHIDS SUPPLY (PTE.) LTD (In Voluntary Liquidation) At u\ ExtraorcJnary General Meeting of the Member of EXOTIC ORCHIDS SUPPLY (PTIJ LTD ddy convened and held at 2010 Stephen580 words
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428 1991-07-13 16 Catherine Ong - Another securities firm Pierson sacks several HK staff in scandal From Catherine Ong in HONGKONG COUNTY Nat West Securities Asia, the broking arm of National Westminster Bank, is closing down next Monday, BT learnt yesterday. County's impending move follows news of a scandal428 words
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Article, Illustration227 1991-07-13 16 AFP HONGKONG Former Hongkong Stock Exchange chairman Ronald Li yesterday pleaded guilty in the High Court to a further two corruption charges, after losing an appeal in April against a conviction for graft and a four-year jail term. Meanwhile, six other formerAFP - 227 words
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513 1991-07-13 16 Chew Eng Han - Workmen's compensation dispute By Chew Eng Han NZI INSURANCE denies that its workmen's compensation (WC) policies are narrower in coverage compared to other policies. Mr Jimmy Fong of NZI Insurance was asked at a court hearing to compare NZl's policy with the513 words
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277 1991-07-13 16 Reuter MOSCOW Soviet foreign trade will fall sharply this year, with oil exports totalling only about half of 1990 levels and grain imports also slumping, an independent research organisation said on Friday. The Moscow-based SovEkon research centre forecast that total SovietReuter - 277 words
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364 1991-07-13 16 Reuter TAIPEI Taiwan is expected to stave off US pressure this year as the island switches its trade surplus to Hongkong, China and Europe and away from its largest trading partner, officials and economists say. Official figures show Taiwan's trade surplus with the USReuter - 364 words
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289 1991-07-13 16 AP TOKYO Government officials say they plan stricter rules to govern freewheeling securities firms in the wake of a major brokerage scandal. The scandal involving pay-backs by Japan's Big Four brokerages to their best customers has led the Finance Ministry to admit it shouldAP - 289 words
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602 1991-07-13 16 G-7 Summit in London Reuter, AFP PARIS France plans to champion the poor at next week's London summit of the richest nations, pressing for new measures to ease the burden of Third World debt, senior government officials said. Despite tight budgetsReuter,; AFP - 602 words
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Article, Illustration425 1991-07-13 16 AP TOKYO The president of a major transportation company resigned yesterday to assume responsibility for a scandal linking his company to a former underworld boss. Mr Hiroyasu Watanabe, president of Tokyo Sagawa Kyubin, resigned "because of several unfortunate events, including the gangsterAP - 425 words
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218 1991-07-13 16 AFP TOKYO The Japanese economy has slackened but will continue to grow, thanks to the recent easing of credit by the Bank of Japan, a private think-tank, said yesterday. The Long-Term Credit Bank Institute of Research and Consulting Inc said in a report that theAFP - 218 words
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182 1991-07-13 16 Reuter BRUSSELS European Community governments are set to make anti-dumping duties on imports of small screen colour television sets from China and Hongkong permanent. EC officials said yesterday that commission ambassadors finalised the decision this week, leaving EC ministers to adopt itReuter - 182 words
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Page 16 Advertisements
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Advertisement6 1991-07-13 16 ICHARTPOINT Every Saturday in Business Times6 words
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Advertisement6 1991-07-13 16 [CHARTPOINTI Every Saturday in Business Times6 words
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Executive Lifestyle
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Article, Illustration1352 1991-07-13 17 Salil Tripathi - Kuala Lumpur is still a far cry from the urban nightmare that Jakarta, Bangkok or Calcutta personify. But the pace at which Malaysia's capital city is growing is causing concern. What environmentalists, planners, and architects are worried about is reckless development; they fear the infrastructure mayPhotos by Mariane Guelden Copyright by Times Editions - 1,352 words
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STRAWS IN THE WIND
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Article43 1991-07-13 17 NEXT year's budget is on February 28. If you're C tonese, it might be your lue&y day, because "28" is "S!W fatt" or "easy to prosper®, Obviously a lot of businessmen are going to keep th«w fingers crossed on that day.43 words
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Article41 1991-07-13 17 THIS is for all economist: How do you say "No ®«e knows what the future will bring" in Japanese? AcccMfling to a Japanese, the litegal translation is: "The deril laughs when you talk about next year."41 words
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Article73 1991-07-13 17 CHILD care centres are so convenient. Working parents can just dump their kids there while they go to work. But one such centre in Jalan Selaseh (Selatar Hills) maybe a bit fussy about what you leave there. The centre has put up a sign: PLEASE BE CONSIDERATE. DO73 words
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Article57 1991-07-13 17 THE barbecue special of the month at Orchard Hotel is scrambled geography. Its litest pamphlet invites guests Jo "savour the tasty African chicken for only $20 and discover why it's so popular jb Macau." No wonder Ethidgfc an chickens are so thitf -if they have to travel all57 words
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OPINIONS
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783 1991-07-13 18 T C Choong - T C Choong says audit committees can perform their important function only if they are sure of their responsibilities in the first place T C Choong The writer has a master's degree in law from the University of British Columbia AUDIT committees783 words
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Article, Illustration807 1991-07-13 18 Sree Kumar - Sree Kumar says our whole perception of service quality must change to take into account the intangibles Sree Kumar The writer, formerly a management consultant, is currently a research fellow at the Institute of Southeast Asian Studies. The views expressed are entirely his own.807 words
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Article, Illustration748 1991-07-13 18 Rang Soo Sin (Mrs - LETTERS TO THE EDITOR Rang Soo Sin (Mrs) Head (Public Relations) The Insurance Corporation of Singapore Limited WE REFER to the article in your issue of July 3 headlined "How do insurers define permanent disablement." The article made reference to a case748 words
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Article168 1991-07-13 18 Tay Lian Huat - Tay Lian Huat YOUR ANALYSIS (BT, July 10) on credit cards prompts me to write to you on another plastic card NETS. NETS has the similar advantage of being "cashless," like other cards. But it has an overriding edge in that users do not168 words
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SPORTS
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752 1991-07-13 19 Jesse Boone - Jesse Boone looks at a little-known sport that has recently received a boost Jesse Boone SINGAPORE A sport riding on a US$5O,OOO sponsorship from Canon with a team going to the World Championships in Seoul is nothing to laugh at. With all752 words
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Article, Illustration626 1991-07-13 19 Reuter SILVERSTONE, England After running away with the first four races, world champion Ayrton Senna is under pressure halfway through the 1991 Formula One season. The Brazilian still enjoys a commanding lead in the championship but the winning streak has ended. After finishingReuter - 626 words
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297 1991-07-13 19 AP UNITED NATIONS, New York The major UN antiapartheid group on Thursday criticised as premature the International Olympic Committee's decision to readmit South Africa to Olympic competition. UN officials have said privately that the lOC decision to readmit South Africa effectivelyAP - 297 words
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412 1991-07-13 19 Tour de France AP LE HAVRE, France Thierry Marie of France regained the yellow jersey of the overall leader on Thursday, winning the sixth stage by one minute and 53 seconds in a near record-setting performance. Marie, who won Saturday's opening prologue but lost theAP - 412 words
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Article266 1991-07-13 19 AP BASTAD, Sweden Thirdseeded Alexander Volkov was extended to three sets before finally overcoming Mikael Pernfors 6-4, 4-6, 6-4 on Thursday in the second round of the Swedish Open Tennis Championships. Pernfors, a 1986 French Open finalist who has slipped to 272 nd on the ATPAP - 266 words
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SIDE LINES
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65 1991-07-13 19 AP GLENEAGLES, Scotland Danny Mijovic of Canada, playing at the invitation of a special sponsor, shot a 5-undcr par 66 on Thursday to take a one-shot lead after two rounds of the Scottish Open. Severiano Ballesteros shot a 68 in the second roundAP - 65 words
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Article64 1991-07-13 19 AFP LYTHAM, England Tommy Horton made his debut in the British Seniors Open by taking a share in the first round lead here on Thursday. The Jersey professional shot a two-under-par 69 and ended the day as triple leader with former champion Bob Charles and England'sAFP - 64 words
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Article75 1991-07-13 19 AP BASTAD, Sweden Mats Wilander, who had knee surgery earlier this week, said on Thursday that he would not play in the US Open next month. "Unfortunately it's too early," said Wilander, the 1988 US Open champion. "I don't think the cement courts are goodAP - 75 words
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Article72 1991-07-13 19 AFP ST PETERSBURG, Florida Monica Seles continues to evade attempts by the Women's Tennis Association here to contact the world number one in the wake of her mysterious withdrawal from Wimbledon. Gerard Smith, executive director of the WTA, said on Thursday that he had been trying toAFP - 72 words
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Article, Illustration359 1991-07-13 19 TIME AND AGAIN, you wonder why your tee shots fly left and right when your mind tells you that you're already addressing the ball correctly. The Nick Faldos and Greg Normans make it seem so easy they judge the distance, pick up the iron359 words
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EPICURE
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Article, Illustration549 1991-07-13 20 Jennifer Lien has a feast in the Cherry Garden THE ancient Chinese decor of Cherry Garden set the mood for our lunch. Sitting on a raised pavilion platform, sipping Chinese tea, it almost seemed as if we were in some idyllic Chinese garden watching the world549 words
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LIFESTYLE
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Article, Illustration865 1991-07-13 21 Jaime Ee - Jaime Ee gives some tips to the hapless house hunter Jaime Ee SO you want to buy a house. You've sold your assets (car, jewellery, husband's dog) and decided to aspire towards suburban bliss in a fake Tudor house. You've just got married and your hormones arePunch - 865 words
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Article, Illustration960 1991-07-13 21 N K Yong - WINE By N K Yong BORDEAUX'S VinExpo 91, the Sixth International Wine and Spirits Exhibition held from June 17-21 was immeasurably better than the Fifth in 1989. In that year, an unseasonably hot summer raised indoor temperatures to the upper forties centigrade, making Coca-Cola and mineral960 words
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Article, Illustration390 1991-07-13 21 Sybil Holloway - BRIDGE By Sybil Holloway FOLLOWING the formal resignation of Denis Howard because of expanding business commitments, the World Bridge Federation Executive Council on Apr 16 unanimously elected Ernesato D'Orsi of Italy to be the new president. The WBF also announced that the 1992 World Twins Olympiad390 words
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PURSUITS 1
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Article, Illustration801 1991-07-13 22 Claire Leow - The British Film Fest is back with a new bag of tricks. Claire Leow checks out the contents Claire Leow Relief for film buffs, who have suffered a dry spell of late. The British Film Festival, now into its eighth annual season, is801 words
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Article, Illustration717 1991-07-13 22 Professor Emory Griffin gives Jennifer Lien some tips on how to invest in interpersonal relationships HIS EYEBROWS look as if they could knit themselves into a fury if he ever got agitated. But getting agitated isn't something that Emory Griffin experiences too often. If anything,717 words
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Article, Illustration693 1991-07-13 22 RINGO LIEW - CD Review By RINGO LIEW JESUS LOVES YOU: The Martyr Mantras If ever a genuine talent drowned in the vomit of his own hype, Boy George was it. The dreadlocked, cross-dress-ing lead singer of the now defunct Culture Club has, however, rebounded from his bout with693 words
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Article, Illustration1015 1991-07-13 23 Soh Tiang Keng - Chances are you won't get homesick in Toronto if you're Singaporean. Soh Tiang Keng explains why Soh Tiang Keng IT WASNT too long ago that the official joke in Quebec ran like this: "First prize one week in Toronto. Second prize two weeks1,015 words
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Article, Illustration599 1991-07-13 23 Jesse Boone - Jesse Boone finds much that is unique and distinctive at Carrier's exhibition of watches and clocks Jesse Boone TO THINK that there used to be a time when Man invented watches just so he wouldn't be late for appointments. But form has a way of taking precedence599 words
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Article, Illustration616 1991-07-13 23 Jennifer Lien - Jennifer Lien visits a warehouse crammed with carpets for a preview of what a local hotel intends to do with its suites Jennifer Lien ONCE IN a while, a PR department displays H some creative acumen, H and comes up with an invitation |H616 words
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PERSONAL FINANCE & INVESTMENT 1
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DON'T QUOTE ME!
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208 1991-07-13 24 Lee Han Shih - Compiled by Lee Han Shih THC" Stock Exchange of Singapore's recent tough stand, it seems, has struck fear in the hearts of many company directors* A letter from Singapore Shipbuilding and Engineering (SSE) director George Chow reached SES on July 5, declaring that208 words
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Article63 1991-07-13 24 WE hear outgoing Singapore Airlines deputy chairman Lim Chin Beng, who just renovated his house in Emerald Hill, has put a giant spiral staircase in the middle of the hall to connect the ground floor to the first floor. It looks, according to a passer-by,63 words
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Article144 1991-07-13 24 HE might be the last person on earth to need it, but why should even Mr Robert Kuok turn down a friendly loan, especially if it comes from a World Bank affiliate called International Finance Corp? We do not know which of the two made the144 words
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Article37 1991-07-13 24 FROM the South China Morning Post's Lai See column when the paper asked a broker why the price of long-ig-nored Hongkong Land shares soared on Wednesday, the answer was: "Probably because we recommended a sell."37 words
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Article, Illustration1047 1991-07-13 24 Chew Eng Han - Chew Eng Han examines the special appeal OCBC has for investors STOCK Chew Eng Han THERE is a layman's tale of how OCBC Centre was built on a plot of land rich in gold. And there is even one about the Chinese maid in London, who1,047 words
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Article, Illustration570 1991-07-13 24 Chew Eng Han - Chew Eng Han discusses prospects for the NZ and Aussie dollar Chew Eng Han THE AUSTRALIAN and New Zealand dollars, once hot favourites with investors seeking high-yielding currencies, have slumped miserably in the last three years. A few years back, money was pouring intoCharts by TeleTrac - 570 words
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Article, Illustration462 1991-07-13 24 CHART By Ong Research Pte Ltd THE STRAITS Times Industrials Index (STII) is currently in a correction phase after failing to sustain its gains above the 1.500 level. Despite the fact that the market has come off from an overbought position, we would view thisBy Ong Research Pte Ltd - 462 words
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Article, Illustration721 1991-07-13 25 S N Vasuki - Which are the stocks favoured in a new study by Merrill Lynch? S N Vasuki reports S N Vasuki SINGAPORE'S j shipping, shiprepair, banking and construction t stocks have been identified by Merrill Lynch in a new study as stocks which will enjoy good721 words
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Article, Illustration410 1991-07-13 25 Kooi Cho Teng - Kooi Cho Teng discusses protection for man's best friend Kooi Cho Teng WOULD you insure your best friend? Or more precisely, would you insure yourself against any harm your best friend might cause others? Yes, if your best friend happens to be anPunch - 410 words
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711 1991-07-13 25 Diana Oon - Is it worthwhile considering endowment policies? Diana Oon Finds out Diana Oon Looking for a i savings plan with a difference? Endowment insurance offers the best of both worlds a chance to save and obtain insurance cover at the same time. The first711 words
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JOBS
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Article, Illustration950 1991-07-13 26 Shoeb Kagda - Shoeb Kagda talks to John Small, Shangri-La's General Manager, who believes in setting a personal example for his staff to follow Shoeb Kagda IT WAS a dream awakening for Mr John Small when two months back, he received a call in the wee hours of the morningPhoto by Arthur Lee - 950 words
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Article, Illustration228 1991-07-13 26 Mr Francis Khoo has been appointed Managing Director of All Market Data Ltd. With his new appointment, he joins the Board of the company. He brings with him more than 20 years' experience in banking, finance and investment in Singapore. He will be responsible for marketing and operations228 words
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Article, Illustration1052 1991-07-13 26 Peter T Kilborn - Japanese companies in the US have been accused of discriminatory practices against their, American managers. Peter T Kilborn reports Peter T Kilborn NYT AS MORE and more Japanese companies open for business in the United States, Americans contend that there is a new kind ofNYT - 1,052 words
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Article1043 1991-07-13 27 cB^ fcL.y r*oQQ 0050 I MH644 1650 MH631 1610 J2L~L__ GA89 SQU, 1705 MH610 1715 MlllMl QF81 1820 SQ227 2200 MH/SQ671 1800 MH643 1730 QF82 2200 MH6 71 1800 SQ114 1745 I I RJ183 0030 SQ113 1805 SQ116 1845 MH613 1850 MH614 1850 kmtUrimi SQ19 07551,043 words
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THE TRAVEL PAGE
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Article, Illustration508 1991-07-13 27 Francois Raitberger - POSTCARD FROM EVERYWHERE By Francois Raitberger Reuter WHEN you've landed a microlight plane at the North Pole, flown a hot air balloon over the Grand Canyon, swum with sharks in the Maldives, free-fallen over Egypt's pyramids and canoed down the mighty Zambezi, is anywhere beyondReuter - 508 words
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Article150 1991-07-13 27 As at 3pm yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.345 1.365 Canadian dollar 1.520 1.5500 NZ dollar 0.9800 1.0100 Sterling pound 2.820 2.8500 US dollar 1.7600 1.7700 Local dollars to 100 units of foreign currency Austrian schilling 13.40 14.40150 words
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Article81 1991-07-13 27 Duration TiMc Venue Organiser Duration Title Venue Organiser Tel Puratton I.tie a,„ #w0 IV Jewellery Buenos Aires, Rossi Heinlein *****1-S4U July 14-21 Exhibition On Buenos Aires USUARIA *****2855 g International Argentina Asociados SA Equipment. Exhibition '«tT KSTfc Au.lK.20 Imenulional Gemnn, 49WSIW) Services for Fashion Fair Munchen GmbH81 words
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TIME OFF
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Article135 1991-07-13 28 Hong Kong Youth Symphony Orchestra For their Singapore debut they will be performing Mendelssohn's Symphony No 3 in A minor (Scottish) Op 56, as well as some pieces with an Asian slant. Victoria Concert Hall. July 19 at Bpm The Allegri String Quartet The Allegri String Quartet is perhaps135 words
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Article, Illustration289 1991-07-13 28 K Jayanti - Compiled by K Jayanti The Wog and The Wok Expressive paintings showing the cultural varieties and nuances of Eastern and Western Art. Allan Art Galleries, 1 Scotts Rd #02-11, Shaw Centre (Ground floor, along Claymore Hill). July 12-28. 1 lam7pm (Mon-Sat), 1 lam-4pm (Sun) Multi-Media Masters From La Salle289 words
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Article, Illustration760 1991-07-13 28 Eat a Bowl of Tea. From the t same director of Dim Sum and Chan is Missing, this Wayne Wang movie Tollows the lives of a Chinese community in America in 1949. Long drawn out script attempts to be a satirical look at the community's quirks but ends up760 words
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Advertisement149 1991-07-13 17 p on 0 0 24 hour "Loan Information Service J t Approve! 1 it 334 3588 fpg 33 4 36 8 8 IKc TH E BURBERRY LOOK /A| ico' -V y "^flU Wmm WmmS&^ A a*-- ■-iMSfki C«? (>chjrtl R(>a j. #H 01 02 PuU.s Renaissance Sh,.pp.ng Arcade.S.nsapoc* 0923 Tel149 words
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Advertisement79 1991-07-13 18 \si*BE\T &FBI E N D S "DRUMUSIQUE" ORGANISED BY THE MINISTRY OF INFORMATION THE ARTS s*r? I jMWjy A 1 vSp r __I^J i\ nDfrrtf'tfdrtr Featuring A LEWIS PRAGASAM JOHN KAIZAN NEPTUNE PAUL JACKSON J NACH TAKAO STEVE THORNTON CHITOTIHC FLAME OF THE FOREST If) Plus 4 ETHNIC GROUPS WM79 words
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Advertisement26 1991-07-13 18 BT welcomes letters from you. Address them to: The Editor, Business Tunes, Times House, 390 Kim Seng Road, Spore 0923. Letters should include your contact numbers.26 words
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Page 18 Miscellaneous
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Miscellaneous45 1991-07-13 18 DOONESBURY by garry trudeau OH. HI. JOHN! c/) jug. MONt<£Y iIA I ALL OF US OKAtf, H6R&S ANOTHSA&TOSUNUNU, ||A UA HA* /A/ I Jf% ON6! UHffTi 7HE /H 'ATL£AST IKNB4U HM/ H»V* GOING UJefit JUST OP£NU\ JS£L, I#f€R&€3B&UUN V J 3 |yl|H KSEjIIjJI I iTW^B45 words
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Page 20 Advertisements
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Advertisement188 1991-07-13 20 WHERE TO WINE, DINE AND ENTERTAIN WHEBE TO WINE, DINE AND ENTEBTAIN WHEBE TO WINE, PINE GINGERBREAD AT CONNECTIONS NEED WE SAY MORE? e ow BAR OPEN FROM 12.00 NOON TO 5.00 PM. HAPPY HOUR& DJ 6.00 TO 8.50 PM. BAND PERFORMS FROM 9.00 PM TO 2.00 AM. If I188 words
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Advertisement369 1991-07-13 20 nuime&s 1 CALIFORNIAN CUISINE J TOO LATE FOR BREAKFAST? TOO EARLY FOR LUNOH? MIT CALIFORNIAN 1 BUFFET J BRUNCH DELIGHTFUL HOT AND COLD DISHES. A JAZZ I ffiv BAND TO PUT YOU IN A MERRY MORNING I "1/ MOOD. EVEN A LEGO PLAYGROUND 1 NEXT DOOR FOR THE SMALL ONES.369 words
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Advertisement347 1991-07-13 20 Why worry about breakfast or lunch on jJ§ £p|oy a lazy Sunday morning? Come down Tk-n~«rt for brunch with your whole family and T inerme* feast on a delectable spread of hot I Cantonese-Thai dishes, soups, appetizers and 1 Buffet Bnndl xnttdfl* desserts, all prepared to I hlmn, Tff M347 words
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Advertisement250 1991-07-13 20 fJCasGafc That's our prediction for you when you «ep into the K*jb*K u B SB live bands take you down memory Une with golden hk» and evergreen*. Every night ii nottalgia night. You'U be rneunemed Ymk+iy V" Jot I fIW I Tmk~i.mi~.4tM, Mh,.*miimoU M I g—h —5 IfmtmXfmL ill] ii250 words
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Page 21 Advertisements
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Advertisement215 1991-07-13 21 AND ENTEBTAIN Family Fun Brunch I Make it a family outing with a scrumpI tious Sunday buffet brunch at Hubertus I Grill. A whole array of choice delicacies for adults. Cartoons, toys and fun for the kids. Adults $314- Kids $19+ A ANA HOTEL &*rcMsri& SINGAPORE I •MCor* «6i *32215 words
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Advertisement87 1991-07-13 21 Cafe Option* *2®) Introducing a ft\& new dining experience. 'w* LUNCHEON OPTIONS fw. Light Buffet from $8.50+ (All weekdays except Public Holidays) \m> DINNER OPTIONS S& Tai Pai Thong" dishes from $4.00+ (Saturdays to Thursdays from 6.30 pm) Full Barbeque Buffet at $18.00+ (Fridays only, from 6.30 pm) tS TEE-OFF87 words
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Page 24 Advertisements
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Advertisement480 1991-07-13 24 a join /ittIL,US ftfe BT Investment Race Contest #4 |V\J/j (Held in conjunction with DBS Charity Investment Race) Now you can put your skills to work. Complete the Entry Form below, fill in your Investment Portfolio, and together with your $100,000 worth of Money Coupons (which you would have already480 words
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Page 25 Advertisements
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Advertisement437 1991-07-13 25 LOAN i The eaAieat way of turning shares into m. t&e 4-feot No. of Point* FREE GIFTS* Quick and Easy. Get instant cash for your shares 1 IITCL.wa. over the counter at any of our 28 branches t 7 1 &oW» Rwny MM* XO (SO) Loans from $2,000 to $50,000437 words
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Page 26 Advertisements
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Advertisement159 1991-07-13 26 DHL IN THE NEWS Advertisement DHLS PLANNED DISTRIBUTION STREAMLINES DELIVERIES DHL has gone beyond own warehousing facility. On speed parts and materials just meeting the urgent delivery another level, DHLcan provide direct from just one central needs of business, and is companies with a break-bulk warehouse. actually helping companies facility159 words
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Page 27 Advertisements
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Advertisement32 1991-07-13 27 Mickey, slip into New York like the Finns do. With a superb twice-weekly service from Singapore directto Helsinki and a da.ly connection non-stop to the Big Apple. Call *****77 tor details. knowEuropefhrni-tortu>tViraah32 words
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Advertisement127 1991-07-13 27 w&ekji&r [31 amh Singapore man tells his story; D JIT A nil to warn others DMIMm m came to know (my Batam girl) HH I went out with other men. confronted I her. She took everything, sold the shop I (I bought her) and fled to Medan." ■H I "He127 words
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Page 27 Miscellaneous
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Miscellaneous183 1991-07-13 27 29 How tiring (9) 15 The sai(J lumberjack will 30Homely employee? (8,7) soundly a mathcmatical YESTERDAY'S SOLUTION DOWN -j iq\ 1 Like hot stuff being very ea- aiu 1 i,i„i„r g |A|A| c rf7MnMFWßl ger (2,4,2,7) 16 A crazy person might be 2 One getting up in Georgia's cracked (3)183 words
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Miscellaneous151 1991-07-13 27 World forecast Asia-Pacific Hi/Lo* Cond. Auckland 14/08 Shower Bangkok 33/24 TStorm Beijing 32/21 TStorm Brunei 29/23 Shower Hongkong 34/28 Sunny Jakarta 31/22 Fair Kuala Lumpur 31/22 Shower Manila 33/24 Cloudy Melbourne 18/13 Sunny Perth 20/09 Sunny Seoul 29/21 TStorm Sydney 14/09 Cloudy Taipei 33/24 Cloudy Tokyo 29/23 Cloudy Wellington 16/07151 words
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Miscellaneous8 1991-07-13 27 MMißil C EVENMO STANDARD CO. ITO, Ittt-IWI Wit8 words
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Page 28 Miscellaneous
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Miscellaneous1159 1991-07-13 28 TODAY'S TV Movies). »-30 Religious Programme. 4.45 OmUpni Time... lift 8.50 Mad Hiirah gathering at (Children). Stadium Negara (L). S.lO Take Part (Children). 11.30 Wetetus Programam. 5.35 Eareefca'* Castle (Chil- 12.00 PM News(M). dren. Stereo). 12.15 Arab Morie El Nasir 6.00 Win, Lom ar Draw (Game Salahudm (M. Pi I).1,159 words
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Miscellaneous426 1991-07-13 28 Second Chorus, Mon, 3pm, Cushing and Forrest Tucker ggQ 5 lead an expedition to the Hic a a rtoiro malayas to find the Yeti, the A very young Fred ASarn f Abominable Snowteams up with Burgess Mer- of the Yeti i„ dith m a routinely enterta n- u may fmn426 words
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