The Business Times, 3 August 1991

Microfilm: NL17607
Total Pages: 30
1 30 The Business Times
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  • Title Section
    Masthead
    11 1 BUSINESS TIMES MCI (P) 16/12/90 Weekend Edition, August 3-4 1991 75*
    11 words
  • NEWS & MARKETS SUMMARY
    • Article
      Dow higher
      47 1 WALL STREET chalked up a gain in early trading yesterday, encouraged by falling interest rates and talk of possible new moves by the Federal Reserve to stimulate the economy. The Dow Jones Industrial Average rose 4.47 points to 3,022.14 in the first hour of trading.
      47 words
    • Article
      Footsie higher
      35 1 SHARES were higher in light trading at midday yesterday as investors focused on individual stocks. At about 1115 GMT, the FTSE 100-share index was up 6.8 points, or 0.3 per cent, at 2,598.5.
      35 words
    • Article
      US jobless rate down to 6.8pc
      36 1 WASHINGTON The US unemployment rate fell to 6.8. per cent last month from 7 per cent in June, but non-farm payroll jobs dropped by 51,000, the Labour Department said yesterday.
      36 words
    • Article
      Bangkok, CP Group sign phone deal
      41 1 BANGKOK The Thai government and the Charoen Pokphand Group yesterday signed a 60 billion-70 billion baht (US$2.4 billion-US$2.B billion) deal for the company to install two million new telephone lines in the Bangkok metropolitan area.
      41 words
    • Article
      Magnetic technology
      22 1 THE EDB has submitted to the National Science and Technology Board (NSTB) plans for a magnetic technology centre Page 2
      22 words
    • Article
      Bid to block sale
      38 1 MALAYAN Cement Bhd yesterday filed a suit against Pan Malaysia Rubber Industries Bhd and PMRI Investments (S) to block the sale of their stake in a Singapore cement manufacturer to Innovest Bhd Page 3
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    • Article
      UOB earnings up 4.5pc
      33 1 UOB has achieved an unaudited net profit of $145.38 million for the six months ended June 30, up 4.5 per cent from the corresponding period last year Page 3
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    • Article, Illustration
      STOCK INDICES
      29 1 Friday Change BT-MGA 712.98 -1.86 Kuala Lumpur ....599.41 -1.34 Tokyo 24,027.97 -44.76 Hongkong 4,059.40 +29.39 Sydney 1,582.1 +4.7 Thursday Change New York 3,017.66 -7.16 London 2,591.7 +2.9
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    • Article
      CURRENCIES
      13 1 Cxch—H rates USS S$ 1.7415 100 Yen SS 1.2661 MS SS 0.6246
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    • Article
      COMMODITIES
      36 1 London Gold AM fix USS360.35 -US$3.05 fafefeor S'pore Sep.... 144.00*/kg +0.50 Msia Sep 227.00'/kg unch KL Tin Turnover 19 tonnes -5 Spot MS 15.46/kg +3 Crado palm od Turnover 1,770 lots +34 .Aug MS870 /tonne-3
      36 words
  • Article
    Hotels post lower room revenue in first 5 months
    558 1  -  7.2pc drop caused mainly by soft tourist arrivals By Sangeeta Mulchand DESPITE higher room rates, Singapore hotels earned 7.2 per cent less from room revenue in the first five months of this year compared with last year. This loss of $28
    558 words
  • Article, Illustration
    SIA drops McDonnell Douglas order in favour of Airbus
    424 1  -  By Dexter Lee IN A surprising move, Singapore Airlines has decided to abort its US$3.l billion (555.39 billion) order of 20 aircraft from McDonnell Douglas Corporation in favour of a similar number of planes worth some US$3.4 billion from European consortium
    424 words
  • Article
    Lock icon Baker holds talks with Palestinians
    183 1 AP JERUSALEM After prodding Israel toward Middle East peace talks, US Secretary of State James A Baker 111 held more than four hours of talks with leading Palestinians yesterday to urge compromise on their part. No announcement was made after the meeting. Mr Baker left
    AP  -  183 words
  • Article
    Johor gets nod to restrict land buying by foreigners
    506 1  -  Move aimed at speculators, say analysts By Salil Tripathi THE RULES of the game may be changing for Singaporeans wanting to invest in Johor property. In a surprising development, the federal government of Malaysia has agreed in principle to Johor's proposal
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        S'pore, Indonesia sign pact on air combat range
        67 2 GENERAL Try Sutrisno, Commander-in-Chief of the Indonesian Armed Forces and Lieutenant-General Winston Choo, Chief of Defence Force of the Singapore Armed Forces, signed an agreement for the joint development of an air combat manoeuvring range yesterday. The range will be used to
        67 words
      • Article
        Dr Hu to open N-Day carnival
        43 2 FINANCE MINISTER Dr Richard Hu will officially open the 11-day National Day Carnival on Aug 8. Highlights of the carnival at Marina Promenade include a six-a-side soccer tournament, open air disco and a motor and boat show.
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      • Article
        Ngee Ann's Toastmasters Club
        45 2 N<jEE ANN Polytechnic will formalise its Toastmasters' Club as a member of the worldwide organisation, Toastmasters International on Aug 3. The club, formed to promote effective communication skills, will provide self-help programmes for participants interested in acquiring communication and leadership skills.
        45 words
      • Article
        PM Goh to visit Cairnhill
        46 2 PRIME MINISTER Goh Chok Tong will visit Cairnhill Constituency as part of his community visits tomorrow. Apart from meeting residents and grassroots leaders at Zhujiao, Mr Goh will also hold a dialogue session with grassroots leaders and representatives of private condominiums.
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      • Article
        Govt to spend more on education
        74 2 THE GOVERNMENT will invest 5 per cent of the GDP on education in future, an increase from the 4 per cent now, said Dr Lee Boon Yang, Minister (Prime Minister's Office). Dr Lee, who is also Second Minister for Defence, said that more investments
        74 words
      • Article
        Seek new markets, builders told
        86 2 SINGAPORE builders were told on Thursday by Mr Yatiman Yusof, Parliamentary Secretary (Foreign Affairs), to explore export opportunities as the local market is relatively small and cannot be expanded ad infinitum. Mr Yatiman was speaking at the annual dinner of the Singapore Institute of Building
        86 words
    • Article
      EDB draws up plans for magnetic technology centre
      255 2 THE Economic Development Board (EDB) has sketched plans for a magnetic technology centre to help sharpen skills in the $7 billion a year disk drive industry to keep Singapore ahead of competitors. The proposal was submitted recently to the National Science and
      255 words
    • Article
      HP to market Eutech's process control software
      249 2  -  By Joseph Rajedran HEWLETT-PACKARD has signed an agreement with Eutech Cybernetics under which the local firm's software will be sold by the US computer vendor. The agreement, worth US$lO million over the next three years, will involve the sale of Eutech's software on
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    • Article
      Former ACB president to retire from Keppel Bank
      259 2 VETERAN banker Ang Hong Choon, the last major link to the former Asia Commercial Bank at Keppel Bank, will leave the bank shortly. The former president of ACB, who remained as the bank's adviser after the Keppel group took control of ACB
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    • Article
      Scotts-Weitnauer gets all 5 cosmetics, perfume concessions
      340 2  -  By Hong Lee Tiam SCOTTS-WEITNAUER Retailing won all five cosmetics and perfume concessions at Changi Airport Terminal 2, leaving the SADE-DFS partnership out in the cold. After an anxious month for bidders, the Civil Aviation Authority of Singapore on Thursday awarded ScottsWeitnauer, the
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  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      551 2 fend toy No Wfc Mwl Pqwrtat ten! Birth fcrtrd P***n Marina Terminal 1 Tytyan 1 SI-74- P05 02.08/1000 02 08/1500 Batam Baru B80 M05 alongside 03.08/2300 w,ras Perm 1 ***** P04 03.08/1500 04.08/1100 Batam Sayang *****1 M04 alongside 03 08/2300 BatamnJo 1 76S M01 alongside 02.08/1700 SawhaWMf
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    • Article
      CONTAINER SCHEDULE
      945 2 RECEIVING OF EXPORT FCL CONTAINERS AMD LCI CARGO Record Bookiw/'Balance Rsfo S»u Voy No Etb/Btr Ptriod From To From Aha Bhum 512N 03/1900 1 02/1500 02/1659 02/1900 2 02/1700 03/0659 03/0900 »a Bhum 513N 05/2000 4 03/1200 03/1459 03/1700 Aii Jayaharta ***** 04/0700 2 02/1700 03/0659 03/0900 3
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    • Article
      IN MALAYSIAN PORTS
      222 2 joHof Port Berth: 1: Thai Ho No I; 2: Princess, Hong Soon I; 3: Yang Cheng; 4: Tanta; 5: Watws Bay; 6; Trade Grace. 01 jetty; Bow Fighter. Sua. DC): Nur Marina Due on Aug 2: Hai Heng 88. Gotten Crux No 5. Ben Phanh. Sri Nam
      222 words
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  • SINGAPORE – MALAYSIA COMPANY NEWS
    • Article
      Malayan Cement takes legal action to block sale
      329 3  -  By Elaine Koh MALAYAN CEMENT Bhd, true to its promise, has promptly filed a suit against Pan Malaysia Rubber Industries Bhd and PMRI Investments (S), in a bid to block the sale of their stake in a Singapore cement manufacturer to Innovest
      329 words
    • Article
      United Overseas Bank posts 4.5pc rise in interim earnings
      429 3  -  United Overseas Finance profits down 26.2 pc By Quak Hiang Whai UNITED OVERSEAS Bank, which was the only Big Four bank to show a drop in earnings last year, has reported an unaudited net profit of $145.38 million for the six
      429 words
    • Article
      Lock icon Idris posts 9.5pc rise in pre-tax profit
      131 3 Bernama KUALA LUMPUR Idris Hydraulic (M) Bhd said group pre-tax profit for the six months ended June 30 rose 9.5 per cent to M$ 10.23 million from $9.34 million a year ago, despite a 28.5 per cent drop in turnover to $55.9 million
      Bernama  -  131 words
    • Article, Illustration
      China operations not affected by floods, says San Teh
      365 3  -  By Carolyn Lim NEWLY-LISTED San Teh, which has two of its three plants in China, has assured investors that the recent floods there have not affected its operations. The assurance came after the rubberised componentsmaker received several inquiries, one of them
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    • Article
      Lam Soon Huat makes bid for Sri Hartamas
      339 3 KUALA LUMPUR In a surprise move, Malaysian property developer Lam Soon Huat Development (LSH) yesterday made a voluntary but conditional takeover offer for problem-plagued Sri Hartamas Corp (SHC). LSH is offering one new LSH share valued at M 53.30 each for every
      339 words
    • Article
      Lock icon Pernas still keen to sell stake in United Malayan Banking
      332 3 MBT KUALA LUMPUR Despite the recent termination of talks on the proposed merger of Development and Commercial Bank (D&C) and United Malayan Banking Corp (UMBC), the stateowned Perbadanan Nasional Bhd (Pernas), which holds an 85.7 per cent share in UMBC,
      MBT  -  332 words
    • Article
      Lock icon Berjaya denies talk of bid to control MUI
      422 3 MBT Bernama KUALA LUMPUR The Berjaya group, which has shares and options for a 10 per cent stake in Malayan United Industries Bhd (MUI), dismissed rumours that it is acting in concert with any party to wrest control of MUI. Inter-Pacific Industrial
      MBT; Bernama  -  422 words
    • Article
      Lock icon Bank of Commerce, UAB merger clears first hurdle
      115 3 Bernama KUALA LUMPUR A major hurdle for the merger between Bank of Commerce Bhd and United Asian Bank Bhd was cleared yesterday when UAB shareholders approved the proposal to amalgamate the banks, as proposed by Bank of Commerce. At an extraordinary general
      Bernama  -  115 words
    • COMPANY BRIEFS
      • Article
        Seagroatt to focus on stockbroking business
        72 3 KUALA LUMPUR Malaysian-listed Seagroatt and Campbell will concentrate on its present stockbroking business instead of venturing into other areas, chairman and managing director Ahmad Kadis said. The newly-listed securities company has plans for a possible tie-up with a foreign partner and the upgrading of
        72 words
      • Article
        Hicom's profit jumps 162 pc
        76 3 KUALA LUMPUR Heavy Industries Corp of Malaysia Bhd announced that profit before tax but after minority interest and extraordinary items jumped a whopping 162 per cent to M 5477.9 million. Hicom president, Tan Sri Jamil attributed the positive performance to Malaysia's rapid economic growth. All
        76 words
      • Article
        Kesang seeks to settle debts
        90 3 KUALA LUMPUR Kesang Corporation Bhd hopes to use the proceeds of its proposed rights issue to erase most of its outstanding debts and resolve the various impending legal action taken out by creditor banks. In a prospectus to shareholders, Kesang said the rights issue of
        90 words
      • Article
        Kamunting buys Dunlop shares
        105 3 KUALA LUMPUR Kamunting Corporation Berhad said yesterday that it purchased 1,806,000 shares of MS 1 each in Dunlop Estates Bhd between July 9 and July 25, bringing its total shareholding to 188,888,603 shares. It said the purchase is the indirect interest held via Multi-Purpose Holdings Bhd
        105 words
      • Article
        TA to develop new headquarters
        72 3 KUALA LUMPUR TA Enterprise, through its whollyowned subsidiary. Worksplex, has bought two pieces of freehold land in the Golden Triangle of Kuala Lumpur for MS 15.7 million. The property paid for in cash will be used to develop the new corporate headquarters of the TAE
        72 words
      • Article
        New director for Seel
        37 3 SOON-TO-BE-FLOATED Singapore Electronic and Engineering has appointed Commodore Teo Chee Hean as a director of the company effective Aug 1. Commodore Teo is the chief of Navy of the Republic of Singapore Navy.
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      • Article
        San Teh's audit committee
        43 3 NEWLY-LISTED San Teh has appointed its audit committee, comprising of Mr Kao Shin Ping, executive director of the company and two other independent directors, Messrs Wellington Chia-Peir Yu and Tang Liang Hong. The appointment took effect on Aug 1.
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      98 3 W? It could be a controversial deal between two stock market stars, a thought-provoking report by I XJ( university researchers on the latest trans-European FOCUS zooms in on the news and issues of the day and looks at them in more depth and breadth. FOCUS is the news feature section
      98 words
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  • COMPANY NEWS 2
    • COMPANY BRIEFS
      • Article
        Statoil posts record first-half profits
        85 4 OSLO State oil firm Den Norske Stats Oljeselskap A/S said its profits in the first half of 1991 were a record. "This is the best result we have had for the first six months of the year," Statoil spokeswoman Berit Rynning Oeyen said. Statoil reported
        85 words
      • Article
        Honda considers plant in India
        108 4 TOKYO Honda Motor Co Ltd said it will conduct a feasibility study on assembling cars in India in a tie-up with Tata Engineering and Locomotive Co Ltd (Telco, India's largest carmaker.) The move follows policy changes by the Indian government last month that allow foreign
        108 words
      • Article
        Smiths buys US firm for US$56m
        76 4 LONDON Smiths Industries pic said it has bought US non-metallic flexible ducting and hose products firm, Flexible Technologies, for US$56 million. Flexible Technologies makes hoses and ducting for air conditioning systems, vacuum cleaners, industrial machinery and automotive applications. The company made US$5.5 million trading
        76 words
      • Article
        Schering interim profits up 2pc
        113 4 BERLIN Pharmaceutical and chemicals group Schering AG said first-half group after-tax profits rose 2 per cent and that it expected group full-year results to be about the same level as 1990's 258 million marks. The company said group after-tax profit was 186 million marks in
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      • Article
        NEC unveils braille PC
        91 4 TOKYO Japan's NEC Corp said on Thursday it had developed the world's first personal computer with a braille keyboard and pin-display, backed up by a voice synthesiser that reads input characters and text. Complete with a PC screen that displays magnified characters for those with weak
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    • Article
      Lock icon TNT unit not hit by TWA's bankruptcy
      212 4 Reuter SYDNEY Transport group INT Ltd said its 50 per cent owned aircraft leasing business Ansett Worldwide Aviation Services (AWAS) is unaffected by the decision of Trans World Airlines (TWA) to file a Chapter 11 bankruptcy plan. "It is our understanding that the
      Reuter  -  212 words
    • Article
      Lock icon Big Three US car makers to lose more market share
      433 4 But bigger pie by 2000: survey AP DETROIT General Motors Corp will make the greatest strides in competing with Japanese automakers by the year 2000, but the Big Three's market share will keep slipping, auto executives said in a survey
      AP  -  433 words
    • Article
      Lock icon Fuji Heavy Industries confident of achieving profit forecast
      225 4 Reuter TOKYO Fuji Heavy Industries Ltd is confident of achieving its earlier projection of three billion yen in parent company current profit for the year ending March 31, 1992, Fuji managing director Kazuo Matsuzaki told Reuters. Mr Matsu/aki is the managing director
      Reuter  -  225 words
    • Article, Illustration
      Lock icon Philips profits surge in first half of year
      526 4 Dramatic results attributed to restructuring programme AP EINDHOVEN, Netherlands Philips, Europe's largest consumer electronics firm, said on Thursday its second quarter net profits soared to 552 million guilders (S$$480 million) from a mere 37 million guilders a year earlier. The Dutch company
      AP  -  526 words
    • Article
      Lock icon Cojuangco has right to shares, court rules
      270 4 AFP MANILA The Philippine Supreme Court on Thursday upheld its decision to let opposition presidential hopeful Eduardo Cojuangco regain control of a large bloc of gov-ernment-held shares in beer giant San Miguel. The court rejected a government motion seeking to reverse the tribunal's
      AFP  -  270 words
    • Article
      Turkish airline orders advanced aircraft from BAe
      532 4  -  From Selva Kumar in HATTIEFIELD, UK BARELY eight days after winning a contract in Indonesia, UK-based British Aerospace Commercial Aircraft has won another contract to supply its advanced turbo prop (ATP) aircraft to a Turkish airline. Turkish national carrier, Turk Hara Yollari, yesterday
      532 words
    • Article
      Lock icon Pancon to refinance US$100m facility
      202 4 Reuter SYDNEY Pancontinental Mining Ltd said it is holding talks on refinancing a US$lOO million facility as part of plans to simplify its financing structure. "We are currently working with Westpac Banking Corp to refinance our US$lOO million note issuance facility, which is due to
      Reuter  -  202 words
    • Article, Illustration
      Lock icon Microsoft sees tighter profit margins
      571 4 Bill Gates expects profits to increase in 1992 Reuter REDMOND, Washington Microsoft Corp chairman William Gates said he expects profits to increase in fiscal year 1992 but profit margins to decline as a result of higher investment in research and development and product support. "We
      Reuter  -  571 words
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  • FINANCIAL NEWS
    • Article
      Lock icon Interest business, securities boost Deutsche's profit
      311 5 Reuter FRANKFURT Deutsche Bank AG said higher profits from its interest business and securities trade for its own account contributed significantly to profit growth in the first 1991 half. A slight improvement in maigins on its interest business and strong growth in credit volume
      Reuter  -  311 words
    • Article, Illustration
      Salaries saga of 2 top world officials
      535 5 Why the World Bank and IMF heads will both get 28pc pay rises WASHINGTON When Lewis T Preston takes over as head of the World Bank in September, he will collect a salary of U*****,000 (*****,000) a year, U5565,000 more than the current
      535 words
    • Article
      Lock icon Barclays sees grim second half for UK economy
      281 5 Reuter LONDON Britain is in the depths of its worst recession in more than 50 years and the outlook is for more tough times in the coming months, according to Barclays pic's chairman Sir John Quinton. "This is the sharpest recession since
      Reuter  -  281 words
    • Article, Illustration
      US$ continues in range trading until next break
      427 5 DBS Bank weekly currency review L SS/Dm: breakout TRADING on either side of the 1.7300 to 1.7750 deutschemark range has proven to be the correct strategy this week as the US dollar traded to a low of 1.7310 last Friday before consolidating
      427 words
    • Article
      Lock icon Troubled bank's market share taken over by others
      484 5 The BCCI Collapse AP LONDON Barclays Bank, battered by recessions in the US and Britain, said on Thursday it had benefited from the BCCI closure and was going after more of its business. Hongkongßank said it has won some market share and
      AP  -  484 words
    • SMALL CHANGE
      • Article
        Commemorative coins from currency board
        53 5 SINGAPORE Singapore's Board of Commissioners Of" Currency (BCCS) will be issuing the 1991 Singapore Joint Civl Defence commemorative coins through their sales agent, the Singapore mint from Sept 3. The coins consist of $5 Cupro-Nickel coins in brilliant uncirculated and prooflike finish, and $5 Sterling
        53 words
      • Article
        ÜBK's profit ahead of budget
        98 5 LONDON The London-based United Bank of Kuwait pic (ÜBK) made an unaudited pre-tax profit of £6 million (S$ 17.4 million) during the first half of the year to June 30, 1991, which was ahead of its expected budget. It also wrote back £4.3 million of
        98 words
      • Article
        Generate Bank profitability up
        99 5 BRUSSELS Belgian Generale Bank NV's chairman of the executive committee Paul-Emmanuel Janssen told the Wall Street Journal in an interview that he was "very well impressed by the trend in profitability for the moment". He declined to give details on results for the first half to
        99 words
      • Article
        WestLB expects higher returns
        72 5 FRANKFURT Westdeutsche Landesbank Girozentrale said in its interim statement it expected higher profits in the full 1991 year. "For the full 1991 year, WestLß expects full group operating profit to be above 1990 levels," the bank said. WestLß did not reveal 1990 group profits and or
        72 words
      • Article
        France to float Credit Local
        58 5 PARIS A minority share of French state-controlled local authority financing body Credit Local de France will be floated on the bourse, the Finance Ministry said in a statement. The state itself and state bank Caisse des Depots et Consignations, the two biggest shareholders in Credit
        58 words
    • Article
      Lock icon Earnings growth of Japanese brokerages set to fall sharply
      318 5 Reuter TOKYO Industry analysts are studying how much more the earnings of Japanese brokerages will be hurt by last month's scandals involving payment of improper compensation to elite clients for losses. They say profit growth at the Big Four is likely
      Reuter  -  318 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      178 5 INTERNATIONAL CONFERENCE ON (Towards Greater Global Competitiveness) 14 16 August 1991 National Productivity Board Convention Centre Organised by Institute of Industrial Engineers, Singapore (QES) Opening Address by Mr. Mah Bow Tan, Acting Minister of Communications, Minister of State for Trade Industry, and Chairman, National Productivity Board. Keynote Address by Mr.
      178 words
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      Page 5 Advertisements Column 2
      286 5 MORGAN GRENFELL ASIA Morgan Grenfell (Asia) Limited Announcement Offer for sale by Morgan Grenfell (Asia) Limited to registered stockholders of Straits Steamship Land Limited (the "Company") as at 5.00 p.m. on 26 June 1991, other than those whose registered addresses for the service of notices and documents are outside Singapore,
      286 words
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  • THE REGION/THE WORLD
    • WORLD WATCH
      • Article
        European airlines post disappointing results
        98 6 BRUSSELS European airlines on Thursday reported their most disappointing passenger figures in nearly a decade. The 22-member Association of European Airlines (AEA) said the number of passengers carried was down 11.2 per cent in the first six months, compared with the first half of last
        98 words
      • Article
        Four new UN members soon
        100 6 UNITED NATIONS The UN Security Council is expected to recommend this month that North and South Korea, the Marshall Islands and the Federated States of Micronesia be allowed to join the United Nations, the council's new president said on Thursday. The membership applications would still
        100 words
      • Article
        Call to stabilise oil prices
        63 6 NICOSIA Iran and Indonesia called on Thursday for measures to stabilise oil prices at next month s Opec meeting, the Iranian news agency IRNA reported. Iranian Oil Minister Gholamreza Aqazadeh and Indonesia's Foreign Minister Ali Atalas, meeting in Teheran, "stressed the adoption of a joint
        63 words
      • Article
        Joint approach to Indochina
        65 6 SEOUL South Korea and Thailand will seek to jointly approach Vietnam, Laos and Cambodia after peace talks in Cambodia are concluded, a Foreign Ministry official said yesterday. South Korean Foreign Minister Lee Sang-Ock, touring South-east Asian nations after attending the postministerial meeting of the non-communist association
        65 words
      • Article
        US-Philippine ties at stake
        62 6 MANILA The Philippines' close relationship with the US will be endangered if the Philippine Senate rejects an agreement allowing the US Navy to keep Subic Bay naval base, a US official said yesterday. "This is not a threat," embassy spokesman Stanley Schrager said in a radio
        62 words
      • Article
        China may open Vietnam border
        70 6 HONGKONG China has proposed opening part of its border with Vietnam in a move to extend trade with Indochinese and South-east Asian countries, a China-fund-ed news agency reported here on Thursday. The autonomous government of Guangxi expressed the desire recently to open its coastal, river,
        70 words
      • Article
        Japan on peace-keeping role
        56 6 TOKYO The Japanese government spelled out its stance on Thursday in reviving a controversial plan for joining UN peace-keeping efforts, despite constitutional restraints on sending troops abroad. Japan may send troops for UN peace-keeping operations on condition that no threat, or use of arms is required,
        56 words
    • Article, Illustration
      Lock icon Retail space in M'sia hits bottleneck
      516 6  -  Johor Baru to get the lion's share of impending supply From Salil Tripathi in KUALA LUMPUR AS Malaysians enjoy a higher standard of living, demand for retail space and hotels is outstripping supply. But impending supply is large partly fuelled by foreign interest which
      Source: Doman  -  516 words
    • Article
      Lock icon Financial fallout from Gulf War appears remarkably light
      490 6 Reuter PARIS The West is still counting the economic cost of the Gulf crisis in terms of reduced output and lost jobs, but the financial fallout has turned out to be remarkably light. A year ago, when Iraq invaded Kuwait, financial markets
      Reuter  -  490 words
    • Article
      Lock icon Latest data helps dispel fears over US recovery
      373 6 FT WASHINGTON Further evidence of a revival in US manufacturing and a drop in claims for unemployment insurance on Wednesday helped dispel fears that the US recovery would peter out. The purchasing managers' index, a closely watched gauge of industrial health, rose
      FT  -  373 words
    • Article
      Lock icon House leader questions US-Korea plane deal
      214 6 Reuter WASHINGTON US House of Representatives Democratic leader Richard Gephardt on Thursday questioned whether a deal under which South Korea will manufacture American F-16 warplanes was in the best interests of the US economy or national security. Criticising a policy of sharing aerospace technology
      Reuter  -  214 words
    • Article
      Lock icon Taipei split on China transport links
      209 6 AFP TAIPEI Government officials and leading entrepreneurs were divided on Thursday on the conditional opening of direct transportation links with China as proposed by the director of Taiwan's industrial bureau. Yang Shih-chien told reporters he was "throwing a hot potato" to the Chinese authorities
      AFP  -  209 words
    • Article
      Lock icon Asian firms clustering in San Francisco bay area
      547 6 NYT AP SAN FRANCISCO Thanks in great part to unprecedented immigration, the San Francisco Bay Area has the highest concentration of business ownership by Asian Americans in the continental United States. The nine-county region boasts more than 42,000 businesses owned by people
      NYT; AP  -  547 words
    • Article
      Lock icon Seoul to build two new major ports
      268 6 AP SEOUL South Korea on Thursday announced two port construction projects, estimated to cost US$6.B2 billion (Ssl 1.87 billion), to help meet serious port facility shortages and keep pace with rapidly growing trade. One calls for building a port on the Bay of
      AP  -  268 words
    • Article, Illustration
      Lock icon US-Soviet deals may emerge soon
      562 6 The Moscow summit AP MOSCOW The normalisation of economic relations agreed upon at the Moscow summit contains the seeds of an unequal partnership that may eventually benefit both superpowers. But the true fruit of the Moscow summit could grow from US President George Bush's discussion
      AP  -  562 words
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  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      617 7 100* 50" o* 50° 100" TO NORTRANS ON THE CHRISTENING OF THEIR NEW VESSELS "FLEXITRANS X" AND TRANS HERCULES" I I T~ I I I "FlexitransX"-A new link to remote areas. which will enable cargo operation to be I w Nortrans Shipping and Trading Far East Pte performed in an
      617 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      SAL steals limelight in otherwise quiet market
      4665 8  -  By Genevieve Cua NEWLY listed SAL Industrial Leasing was predictably the star of the market yesterday, but brokers said response to the new counter was rather disappointing as investors were inclined to take profits. The broader market saw another day of dull and
      4,665 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    4116 9 Main Board DBS Foreign A 1330 +30 +2.3% SIA Foreign 1950 20 +1.0% GELife 1470 20 +14% DBS Foreign 1370 +20 +1.5% OCBC Foreign 1080 +10 0.9% Keppel Corpn 760 +10 +1.3% Keppel C Wits 476 +8 +1.7% Kings 197 +7 +3.7% Roth Inds 50«
    4,116 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Late bargain-hunting fails to lift market
      862 10 Bernama SHARE PRICES in Kuala Lumpur closed lower in subdued trading yesterday with no fresh leads to boost the market but bargain-hunting in the afternoon helped several counters close off their lows. The KLSE Composite Index fell 1.34 points to 599.41 but gains by
      Bernama  -  862 words
    • Article
      Untitled
      3324 10 1991 Last Vol Day Net Cap High Low Coipaay Sak VOO High Low P/E Sag INDUSTRIALS 245 165 AISB 50* 209 -1 20 210 208 51.0 214.4 560 310 ASM 50* 474 unch 112 476 472 42.3 1946.4 600 280 Acidchem 515 5 7 515 510 221.4 685 192 Ajinomoto
      3,324 words
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      Page 10 Advertisements Column 1
      36 10 H MP ■XAjHJJXjASJJiJXL^^E he wed but /J did not bed. got pregnant after he returned to Singapore. ,'5 n» r«*»# After reading l last Saturday's feature on China Brides, they tell their lftT&ElSMlflf*!!* stories of woe.
      36 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Prices fall as investors become lethargic
      2208 11 Reuter TOKYO STOCKS closed easier in thin trade yesterday. With most investors taking a wait-and-see stance, futures prices led the market up and down all day. But lack of selling following strong recent gains gave investors some hope that the market will be able
      Reuter  -  2,208 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Market finishes at all-time high on talk of rate cut
      1921 11 Reuter HONGKONG'S Hang Seng Index closed nearly 30 points up at a new all-time high on rumours of a cut in interest rates, ending a week of consolidation comfortably above the 4,000-level yesterday, brokers and analysts said. After a quiet
      Reuter  -  1,921 words
  • Page 11 Advertisements
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      Page 11 Advertisements Column 1
      41 11 Find out how sellers reach out to buyers in Advertising and Marketing. Every Thursday in BT. For information on where to buy your copy of: Singapore Business, Her World, Go. Home Decor, Young Parents call our Customer Services Section (740-1839, 740-1840)
      41 words
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  • REGIONAL STOCK MARKETS
    • Aussie market closes at 12-month high
      • Article
        AUSTRALIA
        775 12 THE Australian share market closed at a 12-month high yesterday after a US investor went on a US$4O million buying splurge on local stocks. Brokers said the US fund manager apparently re-weighted its portfolio from futures to the physical market, including blue chips and second tier stocks. "The purchase
        775 words
      • Article
        MANILA
        566 12 THE MANILA share market rebounded slightly yesterday but uncertainty over the ratification of a new US bases treaty will keep it moving sideways for some time. The Manila Stock Exchange Composite Index firmed 3.92 points to close at 1,011.66. "The (issue of) Imelda Marcos has been kept under the
        566 words
      • Article
        Untitled
        84 12 INDICES TURNOVER Ooae Previous Aug 2 AUSTRALIA All Ordinaries Index 1.582.1 1,577.4 +4.7 All Industrials Index 2,411.6 2,402.4 +9.2 All Resources Index 944.0 942.8 1.2 Turnover (million) 110.4 87.1 23.3 BANGKOK SET Index 721.85 711.39 10.46 Turnover (billion baht) 3.36 3.63 -0.27 JAKARTA Composite Index 336.05 337.57 -1.52 MANILA Composite
        84 words
      • Article
        TAIPEI
        515 12 TAIWAN share prices closed sharply lower yesterday after investors, disappointed that the market had not sustained rises early this week, started selling in late trade, brokers said. The Weighted Index fell 128.96 points or 2.5 per cent to close at 5,012.45 compared with Thursday's 5,141.41 finish. Turnover was a
        515 words
      • Article
        SEOUL
        792 12 SEOUL SHARES surged on individual buying in active trade yesterday boosted by expectations of a further buying boom focusing on financial shares, brokers said. "Expectations for another surge boosted market sentiment and individuals aggressively placed buy orders for securities and manufacturing issues," Dongsuh Securities broker Chung Chang-shik said. Brokers
        792 words
      • Article
        Untitled
        339 12 MORGAN STANLEY CAPITAL INTERNATIONAL INDICES Aagl Iadex la local caneacy day yew la S$ day year change c ha age la US$ day chmm ek year World 411.3 0.1 14.9 0.0 10.1 0.0 9.8 $EAFE 530.9 -0.2 12.9 -0.1 5.6 -0.2 5.3 Europe 433.8 0.1 19.0 -0.2 3.0 -0.2 2.7
        339 words
      • Article
        JAKARTA
        670 12 JAKARTA stock prices closed mixed yesterday, with newly-listed shares dominating the market, brokers said. The index eased to 336.05 from Thursday's officially revised 337.57 and turnover fell to 3.49 million shares from 5.16 million. Zebra Nusantara taxi rose 300 rupiah to 4,950, with nearly 300,000 shares changing hands. Lippoland
        670 words
      • Article
        BANGKOK
        698 12 A BUYING SPREE in the last half hour of trading pushed the Thai stock index higher yesterday with investors increasingly bullish about prospects next week, brokers said. The SET index ended 10.46 points higher at 721.85 on a turnover of 34,218,700 shares worth 3,362.31 million baht. Finance issues gained
        698 words
      • Article
        NEW ZEALAND
        242 12 THE NEW ZEALAND share market eased in tired and reasonably low volume end-of-week business yesterday, as leading stocks were led lower by forester Carter Holt Harvey. "There has been a fairly heavy government bond tender programme scheduled for this month," said Murray Rutherford of Jordan Sandman Were. "That
        242 words
      • Article
        BOMBAY
        56 12 BOMBAY Stock Exchange (BSE) share prices rallied on end-account on Thursday, taking the exchange index to a record high for the second time in a week. The BSE index soared to 1,677.68 before closing at 1,649.01, up 16.34 points. The previous peak of 1,647.00 was reached on Tuesday. The
        56 words
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      Page 12 Advertisements Column 1
      27 12 For Home or Office deliveries of: Business Times, Straits Times, Sunday Times, LianHe Zaoßao, Berita Harian, Berita Minggu, Shin Min, LianHe Wanßao call our Hotlines 740-1839, 740-1840.
      27 words
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  • WORLD STOCK MARKETS
    • Dow ends lower as bond prices weaken
      • Article, Illustration
        NEW YORK
        1110 13 FALLING US Treasury bond prices combined with profit-taking nudged stocks slightly lower in moderate trading on Thursday on the New York Stock Exchange. The Dow Jones Industrial Average, which rose 8.50 on Wednesday as part of a 52.32-point advance over the past three sessions, fell 7.16 to 3,017.66.
        1,110 words
      • Article, Illustration
        LONDON
        833 13 WEAKER overseas markets depressed the London Stock Exchange early yesterday where trading had thinned ahead of the traditional summer holiday season, but a large program of buying by a securities house propped up share prices, dealers said. The blue-chip Financial Times Stock Exchange 100-Share Index, which gained 2.9 points
        833 words
      • Article
        FRANKFURT
        312 13 HEAVY SELLING of insurer Allianz pressured German stocks on Thursday in a session which had the steam taken out of it by a half-hour power cut. A local power failure plunged the trading floor into darkness, forcing trade to be suspended. Dealers said business failed to pick up again
        312 words
      • Article
        Untitled
        279 13 INDICES TURNOVER NEW YORK Ooae Prrrww Aug 1 Dow Jones NYSE Financial SAP 500 Turnover (million) 3.017.66 3,024.82 154.79 154.69 387.12 387.81 170.6 167.31 -7.16 +0.10 -0.69 3.29 LONDON Financial Times 30 FTSE 100 Turnover (million) 2,006.7 2,591.7 482 2.0039 2.588.8 485 2.8 2.9 -3 FRANKFURT DAX Index 1.622.56 1.622.31
        279 words
      • Article
        AMSTERDAM
        337 13 DUTCH SHARES closed mainly firmer on Thursday with attention focusing on Philips Electronics and chemicals group DSM, both of which reported second quarter results. The CBS Tendency Index finished up 0.5 points at the day's high of 93.7. Philips closed 1.40 guilders higher at 34.40 on news that second
        337 words
      • Article
        PARIS
        228 13 BUYING in selected blue chips helped Paris shares to end higher on Thursday in spite of weakness on Wall Street, with sharp fluctuations in weighty stocks distorting the overall picture in a seasonally quiet market, dealers said. The CAC-40 Index added 12.08 points or 0.69 to close at 1,766.81
        228 words
      • Article
        MILAN
        260 13 BUYING focused on the banking sector and Fiat helped Italian shares hold onto their gains at the close in improved volume on Thursday, brokers said. The MIB Index finished eight points higher, or 0.72 per cent, to close at 1,123, and was shown 0.81 per cent up in after-hours
        260 words
      • Article
        BRUSSELS
        200 13 BELGIAN SHARES ended slightly up on Thursday, with attention focused on oil major Petrofina which fell 0.6 per cent after announcing flat first half-year results, dealers said. The Bel 20 Index rose 0.17 per cent to 1,141.67 points. Volume of Belgian shares was worth 551 million francs. "Volume is
        200 words
      • Article
        JOHANNESBURG
        410 13 LEADING SHARES drifted off their early highs in thin afternoon trading in Johannesburg on Thursday as investors nervously withdrew to the sidelines, dealers said. Fears that the recent rally, which saw industrials hit new peaks once again, may have been overdone has prompted investor caution, they said. A downward
        410 words
      • Article
        TORONTO
        274 13 TORONTO STOCKS stuck within a six-point range during the session on Thursday, ending flat with a negative bias, dealers said. Investors remain hesitant ahead of yesterday's US jobless claims for July, which should give further indications of the economy's recovery, they added. The TSE-300 officially closed off 2.49 to
        274 words
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      Page 13 Advertisements Column 1
      80 13 The Zurich bourse was closed on Thursday for Switzerland's National Day holiday. The Swedish stock market report was not available. 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.
      80 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Markets in limbo as dealers take wait-and-see attitude
      1196 14 REPORTS THE DOLLAR closed little changed in lifeless Tokyo trade where dealers took a wait-and-see attitude ahead of July US jobs data. Dealers said Tokyo players opened few new positions ahead of the data, leaving the market almost square on the dollar.
      1,196 words
    • Article
      Lock icon UK bond market top global performer in July
      306 14 Reuter NEW YORK The UK government bond market out-performed other global government securities markets last month, racking up a 2.45 per cent return, a new survey shows. Japanese bonds yielded 2.02 per cent, the second highest return for investors in July, according
      Reuter  -  306 words
    • Article
      Lock icon German market rates on the rise
      370 14 Reuter TOKYO Bundesbank president Helmut Schlesinger said in a newspaper interview that Germany was clearly in a period of rising market interest rates. The Asian Wall Street Journal (AWSJ) quoted Mr Schlesinger, who took over the Bundesbank presidency on Thursday, as saying: "First of
      Reuter  -  370 words
    • Article
      FINANCIAL FUTURES
      1150 14 SIMEX EUtOOOtlAH Open High Low Sett Est Vol Op/Int Vol Sep 91 93.86 93.88 93.86 93.87 4400 ***** 5985 Dec 91 93.42 93.44 93.42 93.43 7000 ***** 7899 Mar 92 93.34 93.38 93.34 93.37 2200 ***** 2964 Jun 92 92.94 92.96 92.93 92.94 550 2388 747 Sep 92
      1,150 words
    • Article
      INTERBANK FOREX RATES
      369 14 Cross rates Aug 2 USS SS MS Dm Yen SFr AS NZS uss 1.7435 2.7880 1.7590 137.45 0.5976 1.5355 1.2870 1.7498 ss 0.5736 1.5991 1.0089 0.7884 0.8807 1.0036 MS 62.54 n 0.4930 0.2143 0.5508 0.4616 0.6276 Dm 0.5685 0.9912 1.5850 78.14 0.3397 0.8729 0.7317 0.9948 Yen 0.7275
      369 words
    • Article
      MONEY MARKET
      530 14 Interbank rates S$ Bid Offer Overnight 4 3/4 4 7/8 1-month 5 3/8 5 1/2 2-month 5 7/16 5 9/16 3-month 5 1/2 5 5/8 Overnight mode: 4-3/4 USS Bid Offer Tdays 5 13/16 5 15/16 1 month 5 7/8 6 2 months 5 15/16 6 1/16 3
      530 words
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  • COMMODITIES
    • Article
      Lock icon Demand for gold in jewellery rising
      409 15 Eastern Europe, Far East main buyers Reuter LONDON Fabrication demand for gold is likely to be buoyant in the 1990s on the back of the opening of Eastern Europe and the economic development in the Pacific area, a report from Roskill Information Services Ltd
      Reuter  -  409 words
    • Article
      Lock icon Platinum use in catalytic converters may increase
      259 15 Reuter LONDON The use of platinum in catalytic converters for cars is likely to increase as a result of European Community emission control legislation, a report from Roskill Information Services Ltd said. Demand for the same application in Japan and North America may
      Reuter  -  259 words
    • Article
      Tin recovers three sen following rise in London
      848 15 REPORTS THE PRICE of tin recovered three sen to M$ 15.46 per kg on the Kuala Lumpur Tin Market yesterday on slightly renewed buying interest and lack of offering from miners ahead of the weekend. The market was also taking its cue
      848 words
  • Article
    PRICES
    1332 15 Rubber a U8 2 MS (fcfc m») S cents/kg Noon Close Int I RSS Prompt I42.25/I43.25N I42.2VI43.25N Int 1 RSS Sep 91 I44.0CVI44.50 144.00/144.50 Int 1 RSS Oct I45.5CI46.00 145.*****.00 Int 2 RSS OP 141 00/143.00N l4l .OtVI43.OON Int 3 RSS OP 139.0014l.OON 139.00/14 l.OON Int 4 RSS OP
    1,332 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      5 15 Chartpoint in BT every Saturday
      5 words
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      Page 15 Advertisements Column 2
      399 15 BUSINESS TIMES TELEPHONE: 730-5771/5772/5773 FAX: 734-4952 UQUOR LICENCE NOTICE NOTICE IS HEREBY GIVEN thaL I Tan HmgNgtun of Na 121 Bencookn Street, Singapore 0718, have applied for a Rest Class Public House (Extended) licence io respect of premies at M/i Gum's Place at 73, I>aton Road, Singapore 0208, and that
      399 words
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  • Article
    Lock icon Bank a haven for many criminals, US panel told
    511 16 The BCCI Collapse Reuter WASHINGTON The Bank of Credit and Commerce International (BCCI) served as a haven for many criminals, undermined Third World economies and stayed in business only by buttering up top US officials, a US Congressional panel was told.
    Reuter  -  511 words
  • Article
    MI5 knew of bank's terrorist links but kept mum: informer
    364 16 LONDON Britain's MIS secret service knew years ago that the Bank of Commerce and Credit International held terrorist accounts, officials indicate, but apparently condoned the activity in order to track arms deals. In a startling disclosure, an ex-branch manager-turn-ed-informer says
    364 words
  • Article
    S'pore contractors in the running for HK reclamation project
    404 16  -  By Dexter Lee SINGAPORE construction companies could well be in the running for land reclamation contracts which are part of Hongkong's HK543.6 billion airport project. When contacted yesterday, Loh Loh Construction confirmed that it was interested in participating in the pre-qualification
    404 words
  • Article
    M'sia cement probe now turns to accounts books
    313 16 KUALA LUMPUR The investigation into the shortage of cement in Malaysia has deepened. Enforcement officers will now look into the accounts books and transaction records of producers, wholesalers, retailers, transporters and construction firms, The Star reported. Quoting the Domestic Trade and Consumer
    313 words
  • Article
    Lock icon Midland posts £71m loss, cuts dividend
    155 16 AFP LONDON The Midland Bank yesterday reported an interim pre-tax loss of £71 million (*****.17 million) compared with a profit of £36 million one year earlier, and cut its interim dividend by 77 per cent Analysts had forecast a loss of £35 million. The
    AFP  -  155 words
  • Article, Illustration
    Kuok group pays $8.6 m for Killiney Road site
    343 16  -  By Colin Tan THE KUOK group, which is starting work on its long-stal-led project at the former Great World Amusement site, has clinched ownership of another site in the River Valley/Kim Seng Road area. Through subsidiary Allgreen Properties, the Kuok group
    343 words
  • Article, Illustration
    Celebrating 30 years of fruitful dreams
    184 16 THE CAKE wouldn't have melted in anyone's mouth because it wasn't real, unlike the EDB celebration that put Trade and Industry Minister BG Lee and EDB chairman Philip Yeo on the cake. EDB marked its 30th year on Thursday with songs and a giant
    184 words
  • Article
    Lock icon Japan may start independent securities watchdog
    391 16 Reuter AFP TOKYO Japan may set up a watchdog agency like the US Securities and Exchange Commission (SEC) to prevent illegal, or unfair stock-trading practices, Finance Minister Ryutaro Hashimoto indicated yesterday. "The Finance Ministry itself will first review the supervising system/* Mr Hashimoto told
    Reuter; AFP  -  391 words
  • Article
    Lock icon IBM Japan-NEC near agreement on supercomputer pact
    275 16 AP TOKYO IBM Japan Ltd is close to finalising an agreement with NEC Corp, one of Japan's leading computer makers, on supercomputer marketing, news reports said yesterday. Kyodo News Service said that the deal, if sealed, would allow IBM Japan a subsidiary of
    AP  -  275 words
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  • Executive Lifestyle
    • Article, Illustration
      Lock icon Making room for Nature
      1364 17  -  Nirmal Ghosh meets two of Asia's foremost experts on zoo design and management for a look behind the animal scene Nirmal Ghosh ZOOS have come a long way from being places where you could just stand and gawk at the animals. And make fun of them.
      Bronx Zoo photos by Nirmal Ghosh  -  1,364 words
    • STRAWS IN THE WIND
      • Article
        Pressed conference
        75 17 REPORTERS at a press conference to launch a mobile phone were rather impressed to find themselves on a boat off Clifford Pier. Unfortunately, while the topic was high-tech communication, the organisers forgot about old-fashioned interpersonal communication. With 25 people crammed into a tiny room, a buzzing microphone, and
        75 words
      • Article
        Mid-air mid-wifery?
        59 17 RECENTLY, Delta Airlines was quoted in the South China Morning Post as saying that the incidence of babies being born on board airplanes is rising. On a recent Delta flight, 233 passengers embarked, but 234 landed. Now that Singapore Airlines is linking up with Delta, will the Singapore
        59 words
      • Article
        Surprising China
        88 17 WHEN you go to China you expect to be lured by good Chinese food in top Chinese hotels. But not Holiday Inn Downtown Beijing. In a flyer that's being distributed to potential clients, it suggests that visitors to China drop in at its Shamiana restaurant, where they can
        88 words
    • OPINIONS
      • Article, Illustration
        Let it be
        988 18  -  Soh Tiang Keng is disturbed by the suggestion that official versions of the national antnem be sung in Singapore's other official languages Soh Tiang Keng The writer is a BT journalist MAJULAH Singapura, the national anthem, has been sung with pride and patriotic fervour by Singaporeans for
        988 words
      • Article
        Time to bring back the accountability
        843 18  -  Sree Kumar focuses on the recent indications that the international financial industry is in turmoil 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. THE financial
        843 words
      • Article
        URA's ways are thorough and open
        435 18  -  LETTERS TO THE EDITOR Khoo Teng Chye Deputy Chief Executive Officer Urban Redevelopment Authority MR Lee Han Shih's article, "When silence is not golden for URA" (BT, July 23), may convey the misimpression to some of your readers that the Urban Redevelopment Authority is
        435 words
      • Article
        Wanted: more pro-active planning authorities
        252 18  -  Heng Wah Yong YOUR CORRESPONDENT Lee Han Shih's articles are generally perceptive but technical issues like town planning could benefit from a better understanding of the conflicting interests inherent in it. Otherwise the reports may be somewhat tilted. It is the job of planning authorities
        252 words
      • Article
        Ownership structure of Origen International has changed
        252 18  -  Lye Hoeng Fai Chairman Origen International Pte Ltd I REFER to the article "Singapore silicon brain breaks into US market" (BT, July 15). It said Origen International was a joint venture between Singapore Technologies Industrial Corporation Pte Ltd (STIC) and Formulab International Pty
        252 words
      • Article
        GE Plastics: Plans unchanged
        176 18  -  Herbert G Rammrath IN YESTERDAY'S issue of Business Times there appeared an article that incorrectly stated GE Plastics' position with respect to the new production facility we are planning to build in Jurong. Your reporter was informed that our plans for the facility remain unchanged except
        176 words
    • SPORTS
      • Article, Illustration
        Lock icon The business of golf courses
        799 19  -  Nirmal Ghosh finds developers looking for Singapore investors in golf course projects overseas, and reviews the importance of Japan for golf courses in the Growth Triangle Nirmal Ghosh SINGAPORE There is a piece of farmland near London, England, that is waiting for a Singaporean, or
        Source: Mead Ventures Inc. Japan Course Investment Report, 1991  -  799 words
      • Article, Illustration
        Lock icon Higgins makes nightmare return
        414 19 AFP STOKE, England Controversial Alex Higgins endured a nightmare return to the professional snooker circuit at Trentham Gardens here on Thursday. The twice-world champion, resuming his career after serving a one-year ban, crashed to a humiliating 5-0 defeat against rookie Adrian Rosa in the first round
        AFP  -  414 words
      • Article
        Lock icon No-practice Cooper makes a perfect start
        198 19 AFP STOCKHOLM England's Derrick Cooper and Paul Broadhurst both hit an eagle and six birdies to shoot into 1 the first round lead of the Scandinavian Masters in I Stockholm on Thursday. Thirty-five-year-old Cooper grabbed his chance to up- I stage the likes of
        AFP  -  198 words
      • Article
        Lock icon Hoch rides streak to three-shot lead
        356 19 AFP GRAND BLANC, Michigan Scott Hoch got on one of his streaks here on Thursday and it translated into a nine-under-par 63 and a three-shot lead after the first round of the Buick Open. Hoch, perhaps known best for his dramatic play-off defeat by
        AFP  -  356 words
      • SIDE LINES
        • Article
          Wadsworth in the lead on stormy first day
          135 19 WOBURN, England Helen Wadsworth set a dazzling pace on the storm-interrupted first day of the British Women's Open Championship here on Thursday. Wadsworth, a member of last year's English Curtis Cup team and playing in only her seventh tournament since turning professional,
          135 words
        • Article
          Gascoigne to join Lazio
          78 19 LONDON Manager Terry Venables shook hands on Thursday on the deal he never wanted to happen and agreed that Paul Gascoigne would join Lazio from English first division giants Tottenham Hotspur for the start of the 1992—93 season. The prolonged negotiations between the two clubs were
          78 words
        • Article
          De Savary pulls out
          123 19 SAN DIEGO Britain will not be represented at the 1992 America's Cup, following its withdrawal here on Thursday of the Port Pendennis Yacht Club. "It is only after considerable effort and a great will to be with you in 1992 that I have finally decided to
          123 words
        • Article
          Medvedev outlasts Peru's Yzaga
          88 19 BROOKLINE, Massachusetts Soviet teenager Andre Medvedev outlasted No 3 Jaime Yzaga of Peru 4-6, 6-4, 6-3 in the second round of the US Pro Tennis Championships on Thursday. Medvedev raced to a 5-1 lead in the second set with solid net play at Longwood Cricket Club.
          88 words
      • Article
        Lock icon Electronic linecall system on trial
        304 19 AP INDIANAPOLIS The days of irate tennis players arguing over a linesman's call may soon be over with an electronic officiating system that will be demonstrated during the US Men's Hardcourt Championships. The TEL, or Tennis Electronic Lines system, was demonstrated on Thursday by Xsports
        AP  -  304 words
      • Article, Illustration
        The Shelby Futch Golf Instruction Series
        138 19 Ask golfers why they top the ball, and the most common reply is that their heads are up at the point of impact. This is only partly true topping is really the ultimate expression of a tfeep out-to-in, slicing-and-pulling swing pattern. DIAGNOSIS The ball
        138 words
    • EPICURE
      • Article, Illustration
        Lock icon Faust start
        506 20  -  The vibrant colours of Uwe Faust's recipes remind Quek Swee Peng of False Start, artist Jasper Johns' million-dollar masterpiece Quek Swee Peng IF YOU LIKE your food to incorporate spectacular visuals, you couldn't do better than Uwe Faust's colourful courses. It is obvious that first impressions matter a
        Source: Punch  -  506 words
    • LIFESTYLE
      • Article, Illustration
        Orchids from Singapore, designs from outer space?
        929 21  -  A column that looks at life from a slightly skewed angle SAY By Jaime Ee 1 TRIED TO ignore it. But it wouldn't let me. It reached out for me even though I screamed "I only wear Armani!" "Wear me," it commanded, its
        929 words
      • Article, Illustration
        Good wine: only as good as it was stored
        652 21  -  WINE It cannot be emphasised too strongly that ordinary air-conditioning is not good enough. By N K Yong I MAKE no apologies for talking once again about the proper storage of wines. A recent extensive tasting showed that many wines are
        652 words
      • Article, Illustration
        Pesta Sukan bridge festival starts on Thursday
        367 21  -  BRIDGE By Sybil Holloway THIS holiday weekend will see much activity at the Sea View Hotel where the Annual Pesta Sukan Bridge Festival begins on Thursday at 7.30pm with the two-session Mixed Teams event. Today's deal, which turned up at last year's Pesta
        367 words
    • PURSUITS 1
      • Article, Illustration
        Unrealised potential
        563 23  -  Jaime Ee explains why more than just the marriage relationship is left unfulfilled in Julia Roberts' suspense thriller Jaime Ee Chances are, the people who watch Sleeping With The Enemy are not there because they are particularly perturbed by men who slap their wives around. Rather, they would
        563 words
      • Article, Illustration
        Artist who's wild about wildlife
        675 23  -  Nirmal Ghosh profiles Malaysian artist Chew Choon, who uses the traditional Chinese style, but with a difference Nirmal Ghosh MALAYSIAN artist Chew Choon is a rare commodity in this region. He paints wildlife, and is probably the only person in this part of the world
        675 words
      • Article, Illustration
        Wear me blue and black and orange and...
        436 24 CONTRARY to popular belief, the first Singaporean to wear denim to a restaurant was not a Lucky Plaza tout. Neither was the "captain" who evicted the improperly attired diner called Rofino Cheng. Unfortunately, circumstances (and a misguided sense of responsibility) prevent the
        436 words
    • PERSONAL FINANCE & INVESTMENT 1
      • DON'T QUOTE ME!
        • Article
          From saving Singer to share swapping
          169 26  -  Compiled by Lee Han Shih READING the financial news this week, Mr Vincent Tan of Inter-Pacific group must have felt at least a twinge of regret. Two years ago he waged a well-publicised bid for control of the US Singer group, a battle he
          169 words
        • Article
          What a shame
          68 26 WITH the Japanese financial scandal taking centrestage, the thought must have crossed the minds of some United Industrial Corporation shareholders that it is a pity UIC was not onC Of those who got refunded by Japanese security houses for losses in the stock market. The company would
          68 words
        • Article
          Misnomer of the month award
          64 26 FROM an announcement by Hwa Hong, which has joined hands with Parkway to buy a London residential property from a British company in receivership: "The price (£13.2 million) was arrived at on a willing buyer and willing seller basis." Willing buyer, certainly. But willing seller
          64 words
        • Article
          Clever ad or desperate chap?
          74 26 IS AUSSIE developer Mike Core, billed as "creator of the world famous Sanctuary Cove Resort", desperate or he just being clever? A large advertisement appeared in the AustraliairProperty Review showing a worried-looking Mr Core and the headline: "Rescue me from my bankers!" The text read:
          74 words
        • Article
          A fashionable shipbuilder
          61 26 THE. latest company to seek a listing in Hongkong is called Gofuku Leather Goods Centre, whose claim to fame is the woridwide distributorship of the Jackie Chan fashion collection. It is owned by no less than Mr Simon Wong Chai Kit, whose Chung Wah Shipbuilding owns quite
          61 words
      • Article, Illustration
        Mini-bull? Or going bear?
        730 26  -  So you thought the market was getting more and more bullish. Quak Hiang Whai reports on UK expert David Fuller's prophecy for the world's stock markets Quak Hiang Whai THE MINI-BULL trend in the global securities market is now at a critical juncture as evidence of
        730 words
      • Article
        US$ will fall further: Fuller
        394 26 THE US dollar will fall further against the major currencies after its recent rally, says David Fuller in his international investment newsletter, FullerMoney dated July 26. Said Fuller:"Yes, the greenback was edging higher against the European currencies but it was clearly a faltering trend, near
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      • Article, Illustration
        Periodic rallies mean bullishness still alive
        433 26  -  CHART By Najeeb Jarhom The writer is the Research Manager of Fraser Roach A Co Pte Ltd THE stock market continues to emit conflicting signals as we enter the fateful month of August with its occasionally pleasant but most of the time nasty surprises.
        433 words
      • Article
        Contracts galore from $28b HK port project
        470 26  -  S N Vasuki asks if local companies will benefit S N Vasuki A FEW weeks ago, the Chinese and British governments finally reached agreement on Hongkong's huge Port and Airport Development System (Pads) estimated to cost Ss2B billion to build. That amount will
        470 words
      • Article, Illustration
        A promise of high returns for high risks
        572 26 Diana Oon reports on the burgeoning Karachi Stock Exchange Looking to invest in new markets? If you are one to follow the fund managers, then Pakistan might be just the place. The Islamic Republic swore in a new Prime Minister in November
        572 words
      • Article
        Lock icon When small stocks mean big returns
        1161 27  -  Small is beautiful, especially when it comes to companies to invest in. JRupert Bruce explains why Rupert Bruce IHT ONE THING is certain. The era of easy investment pickings is over, at least in the short term. Around the world, investors are looking for
        IHT  -  1,161 words
      • Article
        Warrants: premiums and gearing
        877 27 Print m at A2.0t.91 Cwwanlaa tonus Pranton/ Expiry (tiSCMMt) Aaioaat Optiaaat** Htag C—paay Wrti Sfcar« Lmm Caav Eur Lastk Cask Cash. Loan G*art«g Date Mtks Mrits) stack ratta priea aaa Laft BunnR 115.2 0.235 0.680 1.00 1 00 82 2 89 30/06/94 34 CiC m 37.5
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      • Article, Illustration
        Easy riders that make for a smooth trip
        1001 27  -  Diana Oon checks out the frills you can add to your life insurance policy Diana Oon LIKE MANY things in life, the choice of adding extras to a standard product is often given to a customer, and things are no different in
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    • JOBS
      • Article, Illustration
        Lock icon How much is your manager worth?
        928 28  -  The trend now is towards job evaluation, and several firms are in the business of collecting data on pay levels and benefits, and collating them into an informative whole, and perhaps a strategic tool. Anna Teo reports Anna Teo ARE YOU paying your marketing
        Photo by Chris Loh  -  928 words
      • Article, Illustration
        EXECUTIVE MOVES
        321 28 Mr lan Sykes, after a sixmonth secondment as General Manager of Singapore Hub, has returned to DHL International's Regional Office for South-east Asia as Regional Manager, Services Development. His responsibilities include network planning, data management, project management and services development in the region. Mr Ray Teo has been
        321 words
      • Article, Illustration
        Lock icon Japanese firms urged to cut employees' overtime
        382 28 A government committee has suggested various ways of getting Japanese workers to work less Asahi AN ADVISORY committee to Japan's Ministry of Labour has recommended that companies reduce the amount of overtime their employees put in by 10 per cent a year for
        Asahi  -  382 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1066 29 CKy gg ETA Flgt ETD City FUglit ETA FNgM ETO *>■ GA890 0050 SQl 11 1705 MH610 1715 UAMl QF81 1820 SQ227 2200 MH/SQ671 1800 MH643 1730 0PQ2 2200 MH671 1800 SQ114 1745 SQ113 1805 SQ116 1845 MM RJ183 0030 MH613 1850 MH614 1850 >H SQ19
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    • THE TRAVEL PAGE
      • Article, Illustration
        A really small town in Borneo
        701 29  -  LETTER FROM SARAWAK By Nirmal Ghosh FOR MANY people travelling around upcountry Sarawak, adventure begins before you board one of the Twin Otters that drone about the sky periodically, linking the region's tiny towns. The plane I took flew at about 1,000 feet (340
        701 words
      • Article
        MONEY CHANGER RATES
        152 29 As at 3pm yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.3503 1.3611 Canadian dollar 1.4995 1.5222 NZ dollar 0.9865 1.0014 Sterling pound 2.908 2.932 US dollar 1.7400 1.7430 Local dollars to 100 Knits of foreign cwreacy Austrian schilling 13.% 14.17
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      • Article
        WORLD TRADE EXHIBITIONS
        65 29 Duration Title Venue Organiser Tel Duration Title Venue Orgmacr M Aug 6-9 IV Jewellery Buenos Aires, Rossi Heinlein *****1-9413 Aug 20-31 Izmir Turkey Izmir Fair *****JJ0 International Argentina Si Asociados SA International Organisation Exhibition .41/Ulif. Aug 21 Building Hilton Inter- The Institute 33*3521 Aug 18-20 International Germany
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    • TIME OFF
      • Article, Illustration
        THEATRE
        230 30 Open Air Concert Programmes include pieces from Berlioz, Harper/ Krogstad, Southgate, Lloyd Webber/Southgate, Rogers Hammerstein/Bennett and Leroy Anderson. Conducted by Lim Yau. Lawn E, Botanic Gardens. Aug 10 at 6pm CitiConcerts The Concert Series for Everyone The first of a series of concerts aimed at entertaining over 90,000 people.
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      • Article
        EXHIBITIONS
        203 30  -  Compiled by K Jayanti Sculpture of Yuyu Yang Yuyu Yang's artistic expressions in stainless steel as well as other media will be on display. The 100 pieces of sculptures on exhibition will feature some of his earlier works together with some recent ones. National Museum Art Gallery, Aug l-l
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    • Article, Illustration
      CINEMA
      697 30 Atainc! Tie me up or tie me down. Doesn't really matter, Tm not doing much anyway. A loonie abducts a porn star (maybe not so loonie, he could have kidnapped a head of lettuce) and tries to convince her that there's more to a rope than skipping with it.
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  • Page 17 Advertisements
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      271 17 p on en 24-hour Loan Information Service Approval'' 3 3 4 3 58 8 I 33 4 36 8 8 Today, one watch reigns supreme. 4 The Mechanical Masterpieces The Automatic Chronograph, the Perpetual Calendar and the Tourbillon (Illustrated from left to right) BA *****/003. BA *****/002 and BA *****/003
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      38 18 BT welcomes letters from you. Address them to: The Editor, Business Times, Tunes House, 390 Kim Seng Road, Spore 0923. Letters should include your contact numbers. m janagers /l/lust IV I anage BT shows you how every Monday.
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  • Page 18 Miscellaneous
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      Page 18 Miscellaneous Column 1
      96 18 DOONESBURY by garry trudeau f I'M WITH RAY. \f OH. NOT SURE. UB JUST UJOUJ...SOUNDs\ EXACTLY. ONLY UJITH 6UYS BOY! y HI, BP.'. WE'RE ON W ROW, WHEN HAVE 10 BET AWAY, UKBSOMB- INSTEAD OF CHICKS, ANP WHO KIDDO. WHERE > TRYING TO SORT Mil YOU PLTTTHEMSTBE- THINS OUT OF
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      181 20 WHERE TO WINE, DINE AND ENTERTAIN WHERE TO WINE, DINE AND ENTERTAIN WHERE TO WINE, DINE GINGERBREAD AT CONNECTIONS NEED WE SAY MORE? BAR OPEN FROM 12.00 NOON TO 5.00 PM. HAPPY HOUR fir DJ MUSIC: 5.00 PM TO 8.30 PM. BAND PERFORMS FROM 9.00 PM TO 2.00 AM. If
      181 words
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      Page 20 Advertisements Column 2
      319 20 nyiijieGjf SUNDAY TEMPTATIONS Every Sunday, Nutmeg's brings to you exquisite culinary surprises, fine wines and champagnes and the relaxing £hords of our jazz musicians. Seafood delicacies, Sunday favourites, local specialities and even a touch of American, await the family for a peaceful Sunday. For $34.50++ per person and $17.25++ per
      319 words
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      Page 20 Advertisements Column 3
      257 20 Oh />iu felfc tfefe Jr Sing in the Subway! Happy hours at Subway are now singing hours. So ride on down to Subway for Happy t lours when all drinks are going for a song. Plaza Hotel 1 1 ,ours: S 81/ WAY »4*M*COtO4IO'OI«I«VITIHQ Q 9 PITI f tbmi v
      257 words
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      Page 20 Advertisements Column 4
      311 20 r-K.^X\ J>on t *Z\' Cah liny (Xir (^.icaryots M With over 60 traditional specialities at our extravagant French buffet, better make your move before it passes you by. We serve the world to you at The Belvedere. French Buffet Lunch Noon 2.30 pm Adult: $36 Child below 10: $18 m
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      215 21 AND ENTERTAIN Family Fun Brunch Make it a family outing with a scrumptious Sunday buffet brunch at Hubertus Grill. A whole array of choice delicacies for adults. Cartoons, toys and fun for the kids. Adults $31-I--I- Kids $19+ A ANA HOTEL ffiauw&ril SINGAPORE 'Mil M* VfliCC* K»% I i?W I
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      Page 21 Advertisements Column 2
      173 21 11l VfT"" A MMT K Mqfv I MMT UnM> i ■wmli D Mtmm Mr«lnUflN| yyy y m y C S BACH C >■' Violin Cflncartoa No». 1& 2/D<aMc Coßearto I I NalaaktfaMckov/CipaiU l«rapd icaa«Orfninyi J j I——— ijsom NAXOS Compact Discs... Superb performances and sound at a very modest price!
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      917 22 JxHIS IS WHAT THE CARD OFFERS YOU FOR $3 00. t/U BSTANTIAL SAVINGS ON TRAVEL TO EXOTIC PLACES. SAVINGS ON DINING AT SOME OF THE FINEST RESTAURANTS IN TOWN. ND MORE. JES AIR SEMPATI AIR During the past weeks, you've seen and HOTELS/RESORTS Singapore-Ottawa-Singapore S$ 1,025 for Cardmembers. heard about
      917 words
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      891 23 «yiGN UP NOW AND WIN. Two nights' accommodation for two at The Lakehouse, BONUS DRAW Cameron Highlands (three winners). Weekend stay for two at Hilton International Singapore, inclusive of daily breakfast and one $300 meal voucher. TOURS/LEISURE PRIZES Weekend stay for two in Executive Suite at Concorde Hotel t pi
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      766 25 Congratulations and Best Wishes r 1 on the christening of "MIRI ENERGY" by DR. LAWRIE J. AUSTIN, Managing Director of B Shell fytalajysia Trading Sdn Bhd, Kuala Lumpur -1 -I* t ji -is r »v .V W --5*5 iV. I'*--. c..r v' 4 t "t 4 > '-i' r r*
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      86 26 GOM6X I COMMODITY EXCHANGE, INC. r Four World Trade Center, New York, NY *****, U.S.A. 1 COMEX, The World's Most Active Metals Market announces the publication of a 28-page I chartbook on Gold, Silver and Copper prices (as of 28th June, 1991) j To get your free copy, visit our
      86 words
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      447 27 EXPRESS SHARE LOAN I The eoAUat way of turning shares into csuh <ut tfa, y* m ■■■■■■■HI No. of Potnt« free«ftv 1 Quick and Easy. Get instant cash for your shares over the counter at any of our 28 branches 7 1 MM n*my IMi XO (sd) V Loans from
      447 words
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      163 28 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, DHL can provide direct from just one central needs of business, and is companies with a break-bulk warehouse. actually helping companies
      163 words
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      Page 28 Advertisements Column 2
      203 28 BUSINES S TI M E -S TELEPHONE: 730-5771/5772/5773 FAX: 734-4982 ■I RELATED SERVICES r' An American Express company We invite applications for the poet of: MANAGERMARKETING This is a new position created as a result of our recent organisational expansion. The Manager will strengthen our current marketing team responsible for
      203 words
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      31 29 Irving, don't forget PLnnair conducts a brilliant service to Berlin. And to over 30 European destinations from Amsterdam to Athens Call *****77 for details. We know Europe from start to Finnish.
      31 words
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      Page 29 Advertisements Column 2
      27 29 For Home or Office deliveries of: Business Times, Straits Times, Sunday Times, LianHe Zaoßao, Berita Harian, Berita Minggu, Shin Min, LianHe Wanßao call our Hotline; 740-1839, 740-1840.
      27 words
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      Page 29 Advertisements Column 3
      40 29 One Lucky HER WORLD reader will win this $89 000 HOLDEN CAR today WILL IT BE j The HER WORLD WIN A CAR Draw will be held at 11 am, 3 August, at Times Periodicals office, 422 Thomson Road HERWORLB
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  • Page 29 Miscellaneous
    • Miscellaneous
      Page 29 Miscellaneous Column 1
      212 29 1 Unusually fine cable I find ■■f ■HT" 6 Applied with experience (4) s—^^^ Prevent the escape of a cus performer (4) f j 12 Weaken the Italian appearanother 13 Not right in making an intense effort adding colour I I I I Coolness needed reflec--21 Agree to occupy the
      212 words
    • Miscellaneous
      Page 29 Miscellaneous Column 2
      157 29 World forecast Asia-Pacific Hi/Lo* Cond. Auckland 16/08 Rain Bangkok 31/25 Cloudy Beijing 32/22 Clear Brunei 30/19 Clear Hongkong 31/27 Gear Jakarta 33/24 Clear Kuala Lumpur 33/25 Rain Manila 27/24 Cloudy Melbourne unav Perth 18/13 Rain Seoul 30/24 Gear Sydney 17/09 Gear Taipei 34/27 Goudy Tokyo 35/27 Gear Wellington unav Europe
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    • Miscellaneous
      Page 29 Miscellaneous Column 3
      38 29 U£U.,IFNOUDO,I Joutt) .iftHFS V 1 u,u J 7w^sv^v ukstnigmt UWCN NOUSBID \r IBRISTOS^ S/ou'D N/our seßnuDAi 0 0 SHORTS TG TV4e OfFIQS. IF IT/ ifIHTV. jry r*o^ ujfis I I 7TO€N^.S6£-voo *3$ Z—O BBWOrrAWOAWDCO LTD, ma-nti 64« a
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  • Page 30 Miscellaneous
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      Page 30 Miscellaneous Column 1
      1796 30 TODAY'S TV HHIW'MMMSfIBHH j ll'l 1913 (See Our J®*®r nannyanow. Ibuku Malang, Ibuku Tersjy- China's mosts, 3.25pm, SBC 8 Singa- joss RehgioOTProgramme. cor k pore v Kclantan. 11-00 Under M Uwrali iree. ang, Jim, SBC 5 Featunng a temple built on l 2 35 am C(ose n.jo TV riedidßim An
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    • Miscellaneous
      Page 30 Miscellaneous Column 2
      530 30 HMOV!eson^^^ River pf Fireflies, Men, his head over this one. 10.30pm, SBC 12 a u- u u i a Creeping Deianeey, Thurt, A high-school student is 1230pm! SBC 5 thrust unprepared into the real world when his father J rvin 8 ,s a snotty dies. One of those coming-of- bookshop
      530 words