The Business Times, 31 August 1991

Microfilm: NL17608
Total Pages: 26
1 26 The Business Times
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  • Title Section
    Masthead
    12 1 Business Times MCI (P) 16/12/90 Weekend Edition, August 31-September 1 1991 75®
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  • NEWS & MARKETS SUMMARY
    • Article
      Dow lower
      41 1 WALL STREET was mixed in early trading yesterday as traders assessed new signs of a strengthening US economy. The Dow Jones average of 30 industrials rose 2.01 points to 3,051.65 at 1430 GMT in the first hour of trading.
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    • Article
      Footsie lower
      30 1 LONDON share prices were mixed at midday yesterday, amid scattered buying interest. At about 1115 GMT, the Financial Times-Stock Exchange 100-share index was down 2.6 points at 2,635.6.
      30 words
    • Article
      Seoul to buy 120 F-16 Falcon fighters
      88 1 SEOUL South Korea has signed a memorandum of understanding with the US to buy 120 F-16 Falcon fighters made by General Dynamics Corp, worth more than US$5 billion (SsB.6 billion), Seoul's Defence Ministry said yesterday. Under the deal, South Korea is expected to
      88 words
    • Article
      IMM's new service
      24 1 INTERNATIONAL Merchandise Mart plans to introduce its latest service, the FocalPoint Distribution Centre, by the end of this year Page 4
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    • Article
      Hazy second half
      30 1 INTRACO has cautioned that profits in the first half of 1991 may not be sustained in the£second half as global trading«conditions continue to be difQcult Page 5
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    • Article
      Energy strategy
      34 1 PRtME MINISTER Ratu Sir Kamisese Mara said Fiji's controversial decision to tum to Malaysia as its main supplier of oil would ensure better control of the country's principal energy source Page 8
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    • Article, Illustration
      STOCK INDICES
      29 1 Friday Change BT-MGA 690.82 +11.17 Kuala Lumpur ....553.46 +7.66 Tokyo 22J35.il +333.70 Hongkong 3,998.26 38.03 Sydney 1,540.9 +6.9 Thursday Change New York 3,049.64 -5.59 London 2,638.2 +14.0
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    • Article
      CURRENCIES
      22 1 Cxchangi rates US$ SS 1.7190 100 Yen SS 1.2552 MS SS 0.6172 Money market rates Overnight 5-5/16% -1/16 3-month 5-3/16% unch
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    • Article
      COMMODITIES
      36 1 Lcmhw Gold AM fix USS347.00 USS-6.50 Rubber S'poreSep 138.75'/kg -0.25 M'sia Sep 226.50*/kg unch KL Tin Turnover 60 tonnes +17 Spot MS 15.13 /kg -0.02 Crude Bikn oM Turnover 1,267 lots -426 Sep MS793/tonne +8
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    • Article
      Two UK investment banks to merge
      70 1 LONDON Jupiter Tarbutt Merlin Holdings pic and Tyndall Holdings pic said they will merge to create an investment management and banking group with over £1.3 billion (553.77 billion) of funds under management and cash deposits. The merger will be carried out through an offer
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  • Article, Illustration
    PM reminds voters of election's central issue
    560 1  -  General Election '91 Poll outcome will determine where S'pore will go, he says By Anna Teo SINGAPORE Singaporeans should consider how they want Singapore to shape up in the years ahead as they cast their votes today, urged Prime Minister Goh Chok Tong
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  • Article
    Singapore stocks advance on broad front
    178 1 SINGAPORE In a broad charge across virtually all sectors, the Singapore stock market advanced yesterday. The Straits Times Industrials Index rose by 24.78 points, or 1.76 per cent, to end at 1,432.24. Gains were across the board, as winners led losers almost 11 to
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  • Article
    Vincent Tan buys US race track
    333 1  -  By Hong Lee Tiam SINGAPORE Malaysia's brashest corporate trader, Vincent Tan Chee Yioun, has made his first foray into the US by buying Philadelphia Park, a horse-racing track in Philadelphia city. It is understood that Tan Sri Tan, together with several other international partners,
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  • Article
    Lock icon Russian Federation signs accord with Kazakhstan
    422 1 Crisis in the Soviet Union Agencies MOSCOW The giant Russian Federation, its power gradually supplanting that of the crumbling central Soviet state, signed an agreement with Kazakhstan to form a new structure linking republics of "the former Soviet Union" and said it would not
    Agencies  -  422 words
  • Article, Illustration
    Business Times finds a following in Indochina
    240 1  -  From Harish Mehta in HO CHI MINH CITY BUSINESS TIMES and The Straits Times have hit the streets of Ho Chi Minh City and Phnom Penh. Downtown Ho Chi Minh City's prime news-stand owner says that demand exists in this commercial city for
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  • Article
    President, PM send KL best wishes
    51 1 SINGAPORE President Wee Kim Wee and Prime Minister Goh Chok Tong yesterday sent congratulations to their Malaysian counterparts on the occasion of Malaysia's National Day today. Minister for Foreign Affairs Wong Kan Seng also sent his congratulations to his Malaysian counterpart, Datuk Abdullah Ahmad
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  • Article
    Lock icon Singapore, Canada to meet on air pact
    165 1 Reuter SINGAPORE Singapore aviation officials will meet their Canadian counterparts in Ottawa on Sep 10 in a bid to resolve a dispute over Canada's cancellation of a bilateral air agreement, aviation industry officials said. They said the Singapore delegation, which will include officials
    Reuter  -  165 words
  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      112 1 Nikon v i TlwWbrid'tnnMt Phelogmphlc Sv^wi. Arfcraft Schedule a 7 Commodities 17 Company News 5.6 Cryptic Crossword EL 7 Financial News 7 Futures Options 16 Gold Pnc« 1? Home News HK A Tokyo Stocks 12 Interbank Forex Rates 16 KLSE 13 Money Changer Rates EL 7 Money Market 16 Regional
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    • Advertisement
      Page 1 Advertisements Column 2
      117 1 Nikon TlwWbvtd'tFinMt Photographic tyfcm. "I WANT YOU TO RIDE FOR ME AT ROYAL ASCOT.*' fe-ir .-1 "nil iM Hk. E* gXs SflT j] 1 j^P SKi it*. v OMEGA. The watch that records the world's significant moments. '%^g At the Olympic Games. In outer space. And exclusively for you. «T
      117 words
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  • GENERAL ELECTION '91
    • Article, Illustration
      Understand danger of communal politics: PM
      462 2  -  Reports by Loh Hui Yin, Walton Morais, Shoeb Kagda, Lilian Ang, Genevieve Cua, Schutz Lee, Claire Leow, Selva Kumar, Chew Eng Han THE EMERGENCE of racial and religious lines of politicking in this election will have strengthened the ground for the People's Action Party
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    • Article
      Party political broadcasts
      643 2 POLITICAL parties fielding at least six candidates last night got their second chance to reach out to voters via radio and television. Speaking for the PAP were Goh Chok Tong (in English), Ahmad Mattar (Malay), Ong Teng Cheong (Mandarin) and S Dhanabalan (Tamil). The WP was represented
      643 words
    • Article
      Boon Heng gets show of support
      232 2 TWELVE trade unionists and grassroots leaders yesterday came out in support of Mr Lim Boon Heng, the PAP candidate for Ulu Pandan. Mr Lim, previously MP for Kebun Baru, has been identified by Prime Minister Goh Chok Tong as a leader with the potential
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    • Article
      What the foreign press has to say
      367 2 THE run-up to Singapore's ninth general election has been closely watched in the region and further afield. Regional newspapers and major international newspapers have devoted considerable coverage to the polls with news reports, features, and editorial commentaries. Besides news reports and analysis pieces
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    • Article
      PAP can help S'poreans better, faster with strong vote: Chok Tong
      666 2 BY TURNING out strongly for the People's Action Party in today's general election, the PAP will be able to carry out more decisively and quickly programmes designed to uplift Singaporeans, Mr Goh Chok Tong told a rally in Eunos
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    • Article, Illustration
      Lee wants 60pc of votes for Boon Heng
      118 2 SENIOR MINISTER Lee Kuan Yew yesterday evening toured the Ulu Pandan and Bukit Gombak constituencies, two wards where the PAP faced close fights. While in Ghim Moh estate, which is in Ulu Pandan, he told reporters that he wanted Lim Boon Heng,
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    • Article, Illustration
      Chiam urges voters to grab opportunity to elect Opposition
      512 2 SINGAPORE Democratic Party secretary-general Chiam See Tong urged voters last night to grab the opportunity to elect Opposition members into Parliament as it may not arise again. Mr Chiam, who is contesting to keep the Potong Pasir seat for the third
      512 words
    • Article, Illustration
      Jufrie plays tape to show he did not call PM kurang ajar
      490 2 WORKERS' Party candidate for Eunos GRC Jufrie Mahmood yesterday played a tape recording of one rally speech in Malay to show that he did not call Prime Minister Goh Chok Tong kurang ajar. Translating later into English. Mr
      490 words
    • Article
      What that X must convey this time
      842 3 BT COMMENTARY WITH AN X on the ballot paper today, Singaporeans get to exercise their basic right of citizenship to tell those who would rule them: Are we with you? Are we for your philosophy, policies and programmes, your very style of government?
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    • Article, Illustration
      Lines drawn for some tough fights
      1598 3  -  The hustings began tamely enough. Then things hotted up as accusations and counter-accusations started flying. As Singaporeans go to the polls today, Yang Razali Kassim traces the metamorphosis of the election campaign Yang Razali Kassim THEY SAID it would be an issueless election. But
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        STPB steps up wholesaler programme in Japan
        100 4 THE SINGAPORE Tourist Promotion Board (STPB) is stepping up its wholesaler assistance programme in Japan as part of its efforts to rebuild arrivals from Singapore's biggest visitor market. The STPB said in a statement that it will spend $700,000 to develop advertising and
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      • Article
        Trade team to S Arabia, UAE
        57 4 A TRADE MISSION comprising 35 Singapore companies will be leaving for Saudi Arabia and the United Arab Emirates on Nov 8. Led by the Trade Development Board, the mission hopes to identify new business opportunities arising from the reconstruction of Kuwait and to establish
        57 words
      • Article
        International arbitration centre
        71 4 THE Singapore International Arbitration Centre (SIAC) has been set up. The centre, supported by the Trade Development and the Economic Development Board and chaired by Attorney-General Tan Boon Teik, will provide arbitration and facilities to settle commercial disputes. With more and more businesses and investments coming to
        71 words
      • Article
        Measurement technology show
        62 4 AN INTERNATIONAL exhibition and conference on measurement, calibration and testing technologies will be held next year at the World Trade Centre. Measuretech International '92, to be held from July 15-18, 1991, is organised by International Trade Fairs. It is supported by the Singapore Institute of Standards and
        62 words
    • Article, Illustration
      IMM plans delivery service this year
      312 4  -  By Colin Tan INTERNATIONAL Merchandise Mart (IMM) expects to introduce its latest service, the Focal-Point Distribution Centre, by the end of this year. The service is aimed at meeting the logistics needs of wholesale merchandise suppliers. Rather than delivering the goods to their buyers
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    • Article, Illustration
      Property transactions down slightly in first half-year
      302 4  -  By Sangeeta Mulchand THE VALUE of property investments continued to decline in the first half of the year, with major transactions amounting to only $790.6 million. This is slightly lower than the $807 million which changed hands during the same period last year,
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    • Article
      Keppel Towers HQ for Keppel Bank
      230 4 KEPPEL BANK, which is looking to a place among the local big-league banks, is to have its headquarters at Keppel Towers, Straits Steamship Land's new office building at Hoe Chiang Road. Together with Keppel Finance, Keppel Insurance and Keppel Securities, Keppel Bank is under
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  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      468 4 taMj toy No Bath kiM topntot fmg fry Hi Bath Arrivd Pqartat Marina T 1 1 Ho Feng No 21 ***** J2 alongside 30 06/2300 5Z nST M03 atorrade 3008/2359 42 SJ14/91 J3 aiongs* 30.08/2359 m Si SSI 30.0B/2300 J-*- J"** Batamndo 1 88S M02 alongside 30
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    • Article
      CONTAINER SCHEDULE
      798 4 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Booking/Ibbnc* Rdts Ship Voy No Etb/Btr Period From To From Adrian Ms 9108 03/0300 1 30/1500 30/1659 30/1900 2 30/1700 31/0659 31/0900 4 31/1200 31/1459 31/1700 Alkaid 915 01/2359 3 31/0700 31/1159 31/1400 4 31/1200 31/1459 31/1700 Areon *****N
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  • Page 4 Advertisements
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  • COMPANY NEWS 1
    • Article
      Intraco interim earnings up 10pc to $7m
      450 5  -  By William Chia SINGAPORE Trading company Intraco Ltd has reported improved turnover and earnings in the first half with significant contribution from petrochemical products and building materials. Intraco, which released its unaudited interim results yesterday, said that group earnings increased 10.4 per cent
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    • Article, Illustration
      SAE pushing into foreign markets
      239 5  -  By Selva Kumar SINGAPORE Singapore Automotive Engineers, (SAE) which is seeking a listing on the main board of the Stock Exchange of Singapore, is now aggressively pushing itself in foreign markets. The company has submitted proposals to countries in Africa, South America and. "an Asean"
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    • Article
      Apollo interim profits double to $1.5m
      272 5 SINGAPORE Reduced interest charges helped push up substantally the interim earnings substantially of Apollo Enterprise Ltd, the owners of Apollo Hotel on Havelock Road. At the net level, group profits more than doubled to $1.55 million from the previous corresponding half's $734,000. Interest costs
      272 words
    • Article
      CSA: 999 Fund is big buyer
      279 5 SINGAPORE A company related to former banker Hans J Schreiber has emerged as the big buyer of CSA Holdings shares in the past two weeks. Announcments by Mr Schreiber showed that 999 Fund Corporation, a company he is deemed to have interest in, has
      279 words
    • Article
      Warrants: premiums and gearing
      680 5 r Prices as at 30.08.91 Conversion terms Expirr 1 (discount) Amount Optional" using Company Wrts Share Loan Com Exer Lnstk Cash Cash, Loan Gearing, Date Mtta units) stock ratio price nom Stk, Left value > > I S 115 2 0 160 0 670 1 00
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    • Article
      SAL interim net earnings above 2 previous halves
      309 5 SINGAPORE SAL Leasing is on target to meet its profit forecast. In its first set of results since its public listing, SAL Industrial Leasing yesterday reported group net earnings of $2.95 million for the first six months, up 10.9 per cent from
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    • Article
      PSC posts $1.5m in group net earnings
      226 5 SINGAPORE At halftime, Provision Suppliers Corporation (PSC) recorded group net earnings of $1.5 million, marginally better than that of the corresponding period last year. Releasing its interim results yesterday, PSC also announced that it had acquired a 60 per cent stake in a
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    • COMPANY BRIEFS
      • Article
        Eu Yan Sang unit to buy land for M$19m
        71 5 KUALA LUMPUR Satria Sewira, a Malaysian subsidiary of Eu Yan Sang Holdings, has agreed to buy a piece of freehold land in the Mukim and District of Bentong, Pahang from a cooperative society, Koperasi Taman Genting Bhd for Msl9 million (SSI
        71 words
      • Article
        New group MD for Bousteadco
        57 5 SINGAPORE Bousteadco yesterday announced that Peter Cormack, a director of Boustead pic in London will be appointed group managing director of the Bousteadco group of companies tomorrow. He will take over from Graham Zacharias, who has been appointed finance director of Boustead pic which controls
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      • Article
        FELS unit director sells shares
        37 5 SINGAPORE Siva Retnam, a director of FELS Consultancy which is a wholly owned subsidiary of Far East Levingston, sold 30,0 CX) Keppel Corporation shares on Aug 29 at $7,125, Keppel announced yesterday.
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      • Article
        Two dormant companies sold
        47 5 KUALA LUMPUR Pacific Ship-Managers Sdn Bhd, a wholly owned subsidiary of Pacific Carriers has sold two dormant shipping companies, Alwaytop and Macroturns for cash at par to Pacfm Sdn Bhd. Consequently, the two companies cease to be subsidiaries of Pacific Ship-Managers Sdn Bhd.
        47 words
      • Article
        MBf's proposed acquisition off
        54 5 KUALA LUMPUR MBFs proposed acquisition of Pertama Chipta Sdn Bhd has been called off. Vendors of Pertama decided not to go ahead with the deal after the Capital Issues Committee revised the purchase price and issue price of MBf shares to M 526.67 million (5516.5 million)
        54 words
      • Article
        Maybank sets up trade centres
        47 5 KUALA LUMPUR Malayan Banking Bhd will establish trade centres at several key branch locations throughout the country to facilitate a better turnaround time and overall efficiency in trade services. The first trade centre will be set up at its Petaling Jaya branch.
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      • Article
        Application for HK listing
        31 5 KUALA LUMPUR Public Bank Bhd said its whollyowned subsidiary in Hongkong, JCG Finance Company Ltd, has submitted an application for a listing on the Hongkong stock exchange.
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      • Article
        Nam Fatt share sale off
        66 5 KUALA LUMPUR Nam Fatt Bhd said it has been informed that the proposed sale of 10 million shares from Nam Fatt Engineering (1966) Sdn Bhd to Mr Zubir bin Embong and Mr Abdul Rahman bin Haji Yusof has been rescinded due to the non-fulfillment of
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    • COMPANY BRIEFS
      • Article
        TNT blames loss on heavy write-downs
        74 6 SYDNEY Transport group TNT Ltd said heavy writedowns and a substantial deterioration in profitability in its Australian and some European operations were to blame for its A$ 197.28 million (about ***** million) net loss in 1990-91. TNT made a profit of A$ 139.88 million
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      • Article
        Canon reports better profit
        74 6 TOKYO Japan's biggest camera-maker, Canon Inc, said on Thursday its net consolidated profit grew 1.6 per cent from a year earlier to 26 billion yen (about ***** million) in the six months to June. Group sales climbed 10.7 per cent to 922 billion yen in the
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      • Article
        UK retailer poised for growth
        65 6 LONDON Retailing and distribution company W H Smith Group pic said it was poised for growth after reporting higher pre-tax profit for the year ending June 1 of £89 million (about Ss2sB million) against £86 million last year. "The trading results achieved during a year
        65 words
      • Article
        Property firm expects to do well
        80 6 SYDNEY Property and financial services group Lend Lease Corp Ltd expects profits to increase further in 1991-92 after announcing a 14 per cent rise in profits to A$ 183.04 million (about ***** million) for the year to June 30. "The group's continued steady growth
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      • Article
        Daimler-Benz still cruising
        77 6 STUTTGART Industrial group Daimler-Benz AG expects its 1991 group net profit to be around the 1990 level. "Based on the current outlook, we again expect group net profit in 1991 will be around last year's level," Daimler-Benz said m its first-half report. Last year, Daimler-Benz's group net
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      • Article
        Komatsu lowers forecast
        54 6 TOKYO Komatsu Ltd lowered its forecast of parent company current profit to 42.50 billion yen in the year to March 31, 1992 from a May forecast of 47 billion, a spokesman for the world's second largest maker of construction machinery said. This will be down from 44.54
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      • Article
        Elsevier sees profit per share up
        49 6 AMSTERDAM Dutch publisher Elsevier NV expects its 1991 full-year net operating profit per share to rise by 10 per cent from 1990's 5.32 guilders. "Barring unforeseen circumstances, trading income for the full year will increase by approximately 20 per cent," the company said.
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    • Article, Illustration
      Rothmans forges stronger links with its Viet partners
      422 6  -  From Harish Mehta in HO CHI MINH CITY ROTHMANS of Pall Mall (Singapore) has strengthened its links with its Vietnamese partners by supplying more machinery to produce cigarettes and by joining one partner to launch a new brand next month. In line
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    • Article
      Taxes, smuggling hit Rothmans partner
      292 6 HO CHI MINH CITY Rothmans of Pall Mall (Singapore) has a troubled Vietnamese partner whose home sales are being hurt by the pincer-like effect of heavy taxes and smuggled cigarettes. Rothmans and its partner Agrex Saigon go back a long way to 1985 when they
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    • Article
      Lock icon UK govt moves to disqualify ex-Lonrho chairman
      291 6 UPI LONDON The Department of Trade and Industry said on Thursday it has issued a summons against the former chairman of conglomerate Lonrho, Sir Edward Du Cann, to disqualify him from holding a company directorship for up to 15 years. Sir Edward, who
      UPI  -  291 words
    • Article
      Lock icon AT&T and Nippondenso to further develop smart cards
      267 6 NYT NEW YORK The American Telephone Telegraph Co said it and a large Japanese company will explore how to further develop small credit-card-like devices that could carry information like a person's medical records or the repair history of a vehicle. AT&T, which
      NYT  -  267 words
    • Article
      Lock icon NZ's Magnum Corp sees better net profit in 1991/92
      345 6 Reuter AUCKLAND Brewer and retail group Magnum Corp Ltd says it expects a much improved financial performance in the 1991-92 year ending next June. "The company is planning for a significant 40 to 55 per cent improvement in net profit after
      Reuter  -  345 words
    • Article, Illustration
      Lock icon Time may axe staff, undergo redesign
      294 6 NYT NEW YORK Time Warner Inc is considering lay-offs at its magazine division in the next several weeks, according to several company executives. And the company may also redesign Time magazine over a longer term, said the executives, who spoke on condition of anonymity.
      NYT  -  294 words
    • Article
      Lock icon Pre-tax profits at BASF up, down at Hoechst
      263 6 Reuter LONDON German chemical groups BASF AG and Hoechst AG have reported mixed results. BASF said on Thursday that second quarter pre-tax profit climbed 3.3 per cent, boosted by strong growth in its energy and agriculture business. BASF, the world's second biggest
      Reuter  -  263 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      3 5 High hopes, ELS
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    • Advertisement
      Page 5 Advertisements Column 2
      53 5 1991 StFERTEITO CHALLENGE CHANG EDBERG_ LENPL SAMPRAS Come experience "The Gash of the Champs!" Singapore Indoor Stadium September 27 6f 28,1991 7KH) pm Tickets on sale at Centrepoint (Information Counter, Level 1) Wisma Atria (Information Counter, Level 1) An Australian Sports Marketing Event CO-SPONSORS: w^mm ~§n <b \wm TXWtSnNSTAMIOKP ItatelMtM
      53 words
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  • Page 6 Advertisements
    • Advertisement
      Page 6 Advertisements Column 1
      479 6 BUSINESSTIMES TELEPHONE: 730-5771/5772/5773 FAX: 734-4982 N EXECUTIVE DIRECTOR I I The Singapore Institute of Surveyors and Valuers invites B applications for the position of Executive Director. I THE PERSON I We are looking for someone who is dynamic, capable and interested I in a challenging career. I THE JOB: I
      479 words
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  • FINANCIAL NEWS
    • Article
      Bombay branches may free non-residents' shares
      321 7  -  The BCCI collapse From Shirish Nadkarni in BOMBAY NON-RESIDENT Indian customers of the Bank of Credit and Commerce International (BCCI) are heaving sighs of relief that their shares, frozen in the portfolio of BCCI's branches here since early-July, may soon be released through a
      321 words
    • Article
      Lock icon Four former thrift executives convicted of racketeering
      322 7 AP ST PAUL, Minnesota Four former executives of Midwest Federal Savings and Loan were convicted on Thursday on charges stemming from its collapse, which was expected to cost taxpayers US$l.2 billion (about Ss2 billion). The four each were acquitted on some counts but
      AP  -  322 words
    • Article
      Lock icon German banks to keep up fight on new capital rule
      295 7 Reuter FRANKFURT German banks will continue to push for new rules allowing them to count revaluation reserves as part of their capital base, a spokesman for the federal association of German banks said on Thursday. The spokesman described as "basically
      Reuter  -  295 words
    • Article
      QAF signs loan for expansion needs
      150 7 SINGAPORE QAF Ltd, manufacturer and distributor of food products such as Gardenia bread, signed a US$l5 million (Ss26 million) multicurrency loan and Ssl2 million revolving credit facility yesterday. The loan will be used for expansion and working capital needs, as well as to refinance
      150 words
    • Article, Illustration
      Lock icon Aussie state bank receives another A$1.7 billion shot in the arm
      331 7 AFP ADELAIDE The South Australian government announced on Thursday it had injected another AS 1.7 billion (about 552.3 billion) into its struggling state bank to cover potential losses. This bought the total bailout this year for the State Bank
      AFP  -  331 words
    • Article
      Lock icon Dim outlook for foreign trust banks in Japan
      518 7 Reuter TOKYO The nine foreign trust banks in Japan, their combined profits down 87 per cent last year, face a bleak future, with their best sources of income drying up and new sources blocked by fierce Japanese competition. But foreign bankers said
      Reuter  -  518 words
    • Article, Illustration
      Greenback likely to continue its upward movement
      506 7 DBS Bank weekly currency review US$/DM: short-term outlook mixed, breakout.. The US dollar tested resistance at 1.7620 mark this week, reaching a high of 1.7615 on Wednesday, before trading to a low of 1.7290 on Thursday, where it found support. The US dollar
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    • SMALL CHANGE
      • Article
        States begin probe of Salomon activities
        69 7 WASHINGTON State officials have begun their own nationwide investigation of Salomon Inc's Salomon Brothers in the wake of the firm's admitted misdeeds in Treasury auctions. The National Association of Secretaries of States has formed a task force to look into the impact of Salomon's
        69 words
      • Article
        2 Kumamoto banks to merge
        75 7 TOKYO Kumamoto Bank Ltd and Higo Family Bank have agreed to merge in April, local media reports said Spokesmen for the two banks, both based in Kumamoto City in southern Japan, could not immediately confirm the reports. Kumamoto Bank has 60 branches and 698 billion
        75 words
      • Article
        Stock exchange in Islamabad
        91 7 ISLAMABAD Pakistan's Corporate Law Authority (CLA) is allowing a group of businessmen to set up the country's third stock exchange, in the capital Islamabad. The permission revives a decision taken two years ago by the then prime minister Benazir Bhutto but later annulled by a court.
        91 words
      • Article
        Trade in Nobel debt resumes
        84 7 STOCKHOLM Swedish banks said they had decided to resume trade in debt instruments issued by troubled arms and chemicals group Nobel Industrier which were suspended on Aug 22. Skandinaviska Enskilda Banken, Svenska Handelsbanken and Nordbanken said they would, on request from investors, give bid prices
        84 words
  • Page 7 Advertisements
    • Advertisement
      Page 7 Advertisements Column 1
      328 7 Announcing 1 M in—. i m I I IP* I the world's only shaver with a rolling spiral blade. mßm To radically improve the electric shaver, Hitachi had to re-invent it. IVe began by creating the world's first rolling blade, which makes fast work of even the toughest beards. Twelve
      328 words
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  • THE REGION/THE WORLD
    • WORLD WATCH
      • Article
        EC, CSCE call crisis meetings on Yugoslavia
        79 8 BELGRADE Serbian nationalists pressing their offensive in eastern Croatia have destroyed one-third of the homes in the town of Vukovar. As fighting raged on, the 12-state European Community (EC) and 35-nation Conference on Security and Co-operation in Europe (CSCE) called crisis tneetings on
        79 words
      • Article
        Opec output at 17-month high
        109 8 LONDON Opec's crude oil output raced to a 17-month high of 23.69 million barrels per day (bpd) in August as oil producers responded to a market gearing for the high winter demand period, a Reuter survey showed. The August estimate is 270,000 bpd higher than
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      • Article
        Walesa signs US trade treaty
        101 8 WARSAW President Lech Walesa on Thursday signed a controversial trade treaty with the United States which is expected to facilitate US investment in Poland by providing international protections and standards. The treaty was originally signed by former prime minister Thadeusz Mazowiecki in Washington in March
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      • Article
        Taiwan rejects loan charges
        98 8 tAIPEI Vice-President Li Yuan-zu rejected charges that Taiwan was playing "money diplomacy" by extending large to three Central American states, the Central News Agency said on Thursday. Mr Li had given out US$l5 infflion to Costa Rica and $30 million to Nicaragua to help them write
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      • Article
        Aussie building approval up 18pc
        85 8 $YT>NEY A big increase in building approvals provided new evidence yesterday that a recovery is under way in Australia, although it was dampened by news of a widening trade deficit. Building approvals jumped 17.8 per cent in July to the highest level since September 1989
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    • Article, Illustration
      Lock icon Oil deal with Malaysia worth the cost: Fiji PM
      333 8 Deal will allow island to import 10,000 bpd via Singapore AFP SUVA Fiji's controversial decision to turn to Malaysia as its main supplier of oil was justified no matter how disruptive it might have been, Prime Minister Ratu Sir Kamisese Mara
      AFP  -  333 words
    • Article
      Lock icon US relaxes export curbs on militarily sensitive technologies
      311 8 NYT WASHINGTON The Commerce Department on Thursday published a revised and much shorter list of products that can be exported only with the government's permission. The move reflected a more permissive stance by the United States after four decades of trying to
      NYT  -  311 words
    • Article
      Lock icon Data suggests US recovery weaker than presumed
      532 8 Reuter WASHINGTON A spate of US economic data suggests the recovery from recession is weaker than previously thought and that the Federal Reserve may have to lower rates to bolster the economy, economists said. The government reported that sales of new single-fami-ly homes
      Reuter  -  532 words
    • Article
      Lock icon Barriers remain in race for a Europe without borders
      546 8 AP BRUSSELS The European Community's showcase programme for a Europe without borders will start on time in late 1992, but not all barriers will fall immediately. With fewer than 500 days to go, the dozen nations in the trading bloc are
      AP  -  546 words
    • Article
      Lock icon End to UK recession in sight, but jobless rate growing: OECD
      330 8 AFP PARIS Britain will come out of its current deep recession in the second half of this year, but unemployment will continue to grow well into 1992, the OECD said in a report published here. Gross domestic product (GDP)
      AFP  -  330 words
    • Article
      Lock icon Manila sends debt proposals to US
      474 8 Reuter MANILA The Philippines has sent proposals to ease its foreign-debt burden to US President George Bush, as Washington urged Manila to do more to reform its economy. "I have already sent certain proposals to President Bush on debt relief and as promised, he
      Reuter  -  474 words
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      Page 8 Advertisements Column 1
      929 8 Union de Banques Arabes et Francises Head Office: 190 Avenue Charles-de-Gaulle, ***** Neuilly Cedex. France Singapore Branch: 11 CoHyer Quay #11-01/03 The Arcade. Singapore 0104 (Note AM figures quoted in thousands of French francs) BALANCE SHEET (after appropriations) PROFIT AND LOSS ACCOUNT aa at December 31, 1990 for tha yaar
      929 words
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  • THE WORLD
    • Article, Illustration
      Lock icon Yeltsin raising fear of imperialism
      693 9 Crisis in the Soviet Union AP MOSCOW Muscle flexing by Russian leader Boris Yeltsin is hastening the flight of other republics from the Soviet Union and raising the spectre of "Russian imperialist thinking". Many of Mr Yeltsin's actions are drawing warnings from Soviet President Mikhail
      AP  -  693 words
    • Article
      Lock icon Soviet 'after-life' will be shaped by economic needs
      513 9 NYT MOSCOW The Soviet Union, born of the 1917 Revolution, was pronounced dead this week after a lingering illness. The cause of death was diagnosed as a congenital defect called communism. But even as politicians delivered their funeral orations over the decomposing
      NYT  -  513 words
    • Article
      Lock icon Just who is running the Soviet economy?
      716 9 NYT CONFUSION about just who is running the Soviet economy is proving to be a serious problem for Western governments and banks wondering how to continue doing business with Moscow. Should they be talking to the increasingly hollow central government, the Russian Republic
      NYT  -  716 words
    • Article, Illustration
      Lock icon World Bank faces daunting task
      620 9 Reuter WASHINGTON The International Monetary Fund and World Bank face their most daunting task in helping to remake the shattered Soviet economy in the image of Western capitalism, analysts and sources at the institutions said on Thursday. The two organisations, mandated by rich nations to
      Reuter  -  620 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      40 9 Function Room-Hall 4, WTC 11.00am-7.00pm Seminar on "Discovering Book Markets in the Asia Pacific Region Organised by Festival of Books (Invited guests only) 11.00 am-9pm Daily (Stand No: 26) A Special Exhibit of new locally published Children's Books in Singapore
      40 words
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      Page 9 Advertisements Column 2
      101 9 The 23rd SINGAPORE INTERNATIONAL FESTIVAL OF BOOKSAND BOOK FAIR 91 The Book Fair with many attractions Over 160,000 latest titles in English, Chinese, Malay, Tamil, French, Japanese and other languages by 1800 publishers from all over the world Special discounts and gifts Opportunities to negotiate rights for co-publishing, reprinting, distributing
      101 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Market chalks up gains on bargain-hunting
      895 10  -  By Salil Tripathi MUCH LIKE a thermometer measuring election fever, the Singapore stockmarket rose on a broad front, posting gains all around yesterday. As one analyst said, it was like the market going to the polls, confident that the ruling party was assured of
      895 words
    • Article
      Untitled
      4042 10 Grt Gf's 1991 Tel Last Vol Day Last Quote Div Div YTd Net M Cap High Low Code Company Sale +or- ("000) High Low Bayer Seller Or P/E Smil INDUSTRIAL COMMERCIAL 285 162 1000 Acma 210 +5 210 213 206 210 212 10.0N 1.5 4.8 13.9 128.7 ISO 1142 Alex
      4,042 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    3373 11 Main Board FAN 860 40 +4.9% OCBC Foreign 1100 +30 +2.8% S Und Wits 240 +28 +13.2% Roth Inds 50* 550 +25 +4.8% Shangri-La 545 +25 -t-4.8% DBS Foreign 1310 +20 +1.6% FELS 50* 670 20 3.1% GE Life 1370 +20 +1.5% Iteppel Corpn 735
    3,373 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Market finishes higher on hopes of rate cut
      2229 12 Reuter TOKYO STOCKS closed broadly higher yesterday on hopes for looser credit, but were slightly off highs as pre-weekend caution sent investors to the sidelines in late trade, brokers said. Turnover was high on the popularity of interest-rate-sensitive large-capital issues. "Expectations of
      Reuter  -  2,229 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Stocks close firmer on selective buying
      1913 12 Reuter HONGKONG SHARES ended firmer in sluggish trade yesterday dominated by buying of selected blue chips which sent the Hang Seng Index up 38.03 points to 3,998.26. Brokers said trading activity was dull, mostly concentrated on blue chips Swire Pacific and Jardine Matheson. Investors
      Reuter  -  1,913 words
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  • KUALA LUMFUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Market rises on local and foreign buying support
      4244 13 Bernama SHARE PRICES in Kuala Lumpur ended broadly higher yesterday on support from local institutions. Some foreign fund managers also returned to the market following a technical rebound on Thursday. In moderate trading, the KLSE Composite Index advanced 7.66 points to 553.46
      Bernama  -  4,244 words
  • Page 13 Advertisements
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      Page 13 Advertisements Column 1
      102 13 FOR WHO, WHAT, WHERE AND WHEN m THE MARKET.^ ADVERTISING MARKETING, in BUSINESS TIMES every Thursday, covers a vital sector of the economy comprising the country's communications muscle. The page monitors business developments and the players in both international and Singaporean advertising agencies; it charts and reports on trends in
      102 words
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  • REGIONAL STOCK MARKETS
    • Aussie market ends steady on mixed news
      • Article
        AUSTRALIA
        833 14 THE Australian share market rebounded off a sharp slump to close steady yesterday for the third day running after a mix of good and bad news on the economic front. A 17.8 per cent hike in July building approvals was cited as the catalyst for halting a morning slide
        833 words
      • Article
        BANGKOK
        856 14 INVESTORS turned bullish, pushing Thai share prices up across the board in heavy trade, brokers said. "Investors believed share prices are likely to rise rather than fall," a broker at Ekachart Finance and Securities Co said. "In the finance sector, though some shares went up high and there were
        856 words
      • Article
        INDICES & TURNOVER
        83 14 INDICES TURNOVER Clow Previous Aug 30 AUSTRALIA All Ordinaries Index 1540.9 1538.3 +6.9 All Industrials Index 2359 1 2352.2 2.6 All Resources Index 912.6 913.0 -0.4 Turnover (million) 1059 144.3 -38.4 BANGKOK SET Index 705.65 693.21 12.44 Turnover (billion baht) 4.26 2.59 1.67 JAKARTA Composite Index unav 308.597 MANILA Composite
        83 words
      • Article
        MANILA
        626 14 MANILA SHARES slid on profit-taking yesterday in a market just out of a twomonth slack and now in for a bumpy, uphill ride ahead of Senate decision on a new US bases treaty. "The downtrend has been violated, but we won't be seeing a straight rally. It will be
        626 words
      • Article
        SEOUL
        821 14 SEOUL STOCKS yesterday showed no sign of breaking out of a consolidation and closed little changed in quiet trading after recovering from a light afternoon slump on institutional support, brokers said. "The index slipped over three points in the afternoon before modest buying, initiated by institutions, pushed it up
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      • Article
        TAIPEI
        503 14 Taiwan's weighted index yesterday surged 4.8 per cent as gains in the Tokyo market, improved liquidity and better sentiment towards the financial sector triggered a technical rebound, dealers said. The stock index climbed 207.62 points to close at 4,566.57. Turnover rose to a moderate NT526.28 billion from Thursday's NTS
        503 words
      • Article
        MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        294 14 Ah 29 change change change change change change World 405.8 0.6 13.3 0.4 7.5 0.6 8.8 fEAFE 512.7 0.9 9.1 1.0 1.3 1.2 2.4 Europe 438 8 0.3 20.4 0.6 3.7 0.8 4.9 Pacific 788.8 1.3 0.8 1.2 -0.8 1.4 0.4 Far East 1016.9 1.4
        294 words
      • Article
        NEW ZEALAND
        237 14 NEW ZEALAND share prices were mixed yesterday and the market closed the day square to end the week almost where it began. Brokers see little change in the early part of next week particularly with the US on holiday on Monday. "We are looking for a lead from
        237 words
      • Article
        BOMBAY
        121 14 BOMBAY share prices finished broadly lower yesterday on technical selling. "The market was pounded by technical selling," broker Ramnik Parikh said. "This is expected to continue until next week when the current account ends." He said high carry-forward charges in the stocks of companies which an* nounced the closure
        121 words
      • Article
        Untitled
        641 14 Jakarta u. Ui Am 30 VoKW) Vc Abda 2600 Ahap Insurance 4400 Alumindo Fcrkasa U. 3700 Aqua Golden Missisip 9600 Argo Pantes 3250 unch 1775 Kt Aster Jawa 1600 unch 10 \i Astra Graphia.... ***** 50 1140 \r Astra IntUnc ***** 850 120 \i Asuransi Bintang 4900 Asuransi Dayin Mitra
        641 words
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  • WORLD STOCK MARKETS
    • US blue chips retreat on profit-taking
      • Article
        Untitled
        281 15 Aug 29 Claw Pint— NEW YORK Dow Jones 3,049.64 3,055.23 -5.59 SAP 400 Midcap 131.98 131.98 unch SAP 500 396.47 396.64 -0.17 Turnover (million) 154.0 172.0 -18.0 LONDON Financial Times 30 2,066.2 2,053.9 +12-3 FTSE 100 2,638.2 2,624.2 +14.0 Turnover (million) 426.8 507.3 -SO 5 FRANKFURT DAX Index 1.655.30 1,647.50
        281 words
      • Article, Illustration
        NEW YORK
        1265 15 PROFIT-TAKERS swooping in on Wall Street's recent record gains nudged •US blue chips slightly lower in a subdued, pre-holiday session on Thursday, jkrnds continued a brisk rise, with the yield on the 30-year bond falling below 8 per cent earlier in the day. "There was little follow-through, and
        1,265 words
      • Article, Illustration
        LONDON
        640 15 DULL overseas markets dampened interest on the London stock market and share prices drifted lower in early trading yesterday. The blue-chip Financial Times Stock Exchange 100-share index, which gained 14 points on Thursday, dipped 4.8 points to 2,633.4. The narrower Financial Times 30 index was down 4.1 points to
        640 words
      • Article
        MILAN
        221 15 ITALIAN SHARES closed higher on Thursday, boosted by interest in second line stocks that also helped volumes improve slightly from their recent lows. However, brokers said continuing worries about the impact of an 85 billion lire share scandal and widespread expectation of a postponement to Friday's end of the
        221 words
      • Article
        FRANKFURT
        309 15 GERMAN SHARES shed some of the strong opening gains in the second half of Thursday's session as demand for stocks dried up. The 30-share DAX in- dex slipped from its early highs to end 8.00 points higher at 1.655.50. The DAX reached a peak of 1,663.64. "Trade almost came
        309 words
      • Article
        BRUSSELS
        206 15 BELGIAN SHARES closed marginally higher on Thursday in extremely thin holiday trade, with troubled holding company Electrorail as Thursday's biggest gainer in active but speculative trade, dealers said. The Bel 20 index of leading shares closed up 1.16 points to 1,121.56, with a mere 393 million francs worth of
        206 words
      • Article
        PARIS
        175 15 SIGNS of economic recovery in France and prospects of company tax cuts stoked buying on Thursday on the Paris bourse, which closed at its highest level in 11 weeks. The CAC-40 index ended up 5.91 points or 0.32 per cent at 1,857.74, its highest close since June 14, when
        175 words
      • Article
        ZURICH
        260 15 SWISS SHARES ended a fairly active session higher on Thursday, with chemicals again in the focus, dealers said. Registered shares in Ciba-Geigy, 30 francs higher at 2,960, topped the active list, followed by Roche certificates and bearer shares up 50 and 250 to 5,050 and 7,700 respectively. Ciba-Gei-gy bearers
        260 words
      • Article
        AMSTERDAM
        248 15 DUTCH SHARES closed mainly higher on Thursday, but lacked conviction as the continuing half year results season provided few surprises, dealers said. A weaker dollar, spurred by a surprise downward revision of US GNP figures on Wednesday, was not halted by Thursday's on-target US unemployment data, and put a
        248 words
      • Article
        JOHANNESBURG
        388 15 THE JOHANNESBURG stock market gradually lost ground on Thursday afternoon after a narrowly mixed morning. Depressed gold shares led the trend as world bullion prices eased on thin overseas markets, where attention remained focussed on the USSR, dealers said. At the close the JSE all-share index was down slightly
        388 words
      • Article
        TORONTO
        236 15 POOR third quarter earnings at Toron-to-Dominion and National banks sent the market sliding from a weak opening to close slightly lower on Thursday, dealers said. US jobless claims suggesting a sluggish recovery set a negative tone at the opening, they added. The TSE-300 officially closed off 6.4 at 3,514.88.
        236 words
  • Page 15 Advertisements
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      US$ languishes in narrow ranges ahead of Labour Day holiday
      1249 16 REPORTS •:ASt* Tokyo: The US dollar was easier against the mark and the yen in quiet, narrow late Asian trading. The dollar was wellbid against the yen on Japanese importer buying in early morning trade, but edged down mainly due
      1,249 words
    • Article
      INTERBANK FOREX RATES
      383 16 Cross rates USS SS MS Dm Yen SFr AS NZS USS 1.7215 2.7850 1.7445 137.15 0.5935 1.5225 1.2755 1.7422 SS 0.5809 1.6178 1.0134 0.7967 0.3447 0.8844 0.7409 1.0120 MS 0.3591 61.81 0.6264 0.4925 0.2131 0.5467 0.4580 0.6256 Dm 0.5732 0.9868 1.5964 78.62 0.3402 0.8727 0.7312 0.9987 Yen
      383 words
    • Article
      MONEY MARKET
      531 16 Interbank rates s$ Bid Offer Overnight 5 5/16 5 7/16 1-month S 1/8 S 1/4 2-month 5 1/8 S 1/4 3-month 5 VI6 5 5/16 Overnight mode: 5-9/16 USS Bid Offer 7 days 5 5/8 5 3/4 1 month 5 5/8 5 3/4 2 months 5 5/8 5
      531 words
    • Article
      Lock icon S Africa to open futures market to foreigners
      360 16 Reuter JOHANNESBURG The South African Futures Exchange (Safex) is to open to trading by non-residents within three months. Safex chairman Stuart Rees said in a statement that the Reserve Bank, Soutn Africa's central bank, had granted approval for foreign investors to use
      Reuter  -  360 words
    • Article
      Lock icon Brazil's bank bond gets good response
      348 16 Reuter SAO PAULO A US$55 million (5585.5 million) bond for Brazil's National Economic Development Bank (BNDES) got a warm market reception on launch, investment bankers said. "We felt that the market was very receptive," Mr Eduardo Saad, a director of Merrill Lynch Co's Sao
      Reuter  -  348 words
    • Article
      FINANCIAL FUTURES
      1089 16 SIMEX EUWOOOCLAH Open High Low Sett Est Vol Op/Int Vol Sep 91 94.33 94.33 94.30 94J1 1805 ***** 1986 Dec 91 94.09 94 11 94.06 94.08 9002 ***** 9113 Mar 92 94.15 94.15 94.09 94.11 3150 ***** 3806 94.14 Jun 92 93.83 93.83 93.79 93.80 1000 2760 1791
      1,089 words
  • Page 16 Advertisements
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  • COMMODITIES
    • Article
      Lock icon Gold traders fear USSR sale will cap topside
      567 17 Reuter TOKYO Fears of massive selling by the Soviet Union will continue to cap gold's topside in the short run, but physical demand ahead of the Christmas season could help pull it up until the yearend, traders in Asia said. They said
      Reuter  -  567 words
    • Article
      Lock icon Plan to boost coffee prices to be in place by Oct 1
      182 17 Reuter NEW YORK A coffee retention scheme designed to bolster low world prices should be in place by Oct 1, a Colombian coffee official said at a private coffee industry briefing in Bogota on Wednesday, sources said. Mr
      Reuter  -  182 words
    • Article
      Lock icon Gold closes sharply lower in HK on active selling
      865 17 REPORTS Bernama HEAVY overseas stop-loss selling and long-liquidation which triggered local followthrough activity pushed down gold price, dealers said. Active selling pushed the price to an intraday low of U*****.50/347.00 an ounce before physical demand pulled it up to a U*****.20/70
      Bernama  -  865 words
  • Article
    PRICES
    1334 17 Rubber Aug 30 BA> (fcfc >■!—) S cents/kg Noon Close lnt 1 RSS Prompc 139.00/140.00N 138.7V139.75N Int 1 RSS Sep 91 139.00/140.00 I38.7V139.75 lnt 1 RSS Oct 140.00/140.50 139.7V140.25 lnt 2 RSS OP 137.50/139.50N 137.50/139.50N Int 3 RSS OP 136.50/138. SON 136.50/138.50N Int 4 RSS OP 132.00/134.00N 132.00/ 134.00N
    1,334 words
  • Page 17 Advertisements
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      Page 17 Advertisements Column 1
      9 17 Managers Must Manage BT shows you how every Monday.
      9 words
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      Page 17 Advertisements Column 2
      311 17 BUSINESS TIMES TELEPHONE.' 730-5771/5772/5773 FAX: 734-4912 LOSS OF BILL. OF LADING I NO. WTS/SAN/08/0344 1 Application has been made to "World-Track Shipping Pie Ltd 1 for the issuing of a new set of bill of lading in replacement of the following: VSUVOY HYUNDAI RIVIERA 11PR1 (ETD SIN 18,8/91) B/L NO.
      311 words
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  • Article
    Lock icon Japan's current account surplus soars to US$5b
    449 18 Last month's figure more than double that of July '90 Reuter TOKYO Japan's overall suiplus in trade of goods and services with the rest of the wo'rld more than doubled from the year before as exports surged and imports shrank, the Finance Ministry
    Reuter  -  449 words
  • Article
    Lock icon Worsening crisis forces suspension of Lankan parliament
    265 18 Reuter, AFP COLOMBO President Ranasinghe Premadasa suspended parliament yesterday until Sep 24 as the resignation of two senior ministers deepened Sri Lanka's political crisis. State radio announced the proroguing of parliament, which effectively delays debate of an opposition motion to impeach Mr Premadasa
    Reuter,; AFP  -  265 words
  • Article
    Lock icon Jump in key US index in July strongest in 3 years
    393 18 AP WASHINGTON The US government's chief economic forecasting gauge jumped 1.2 per cent in July the strongest gain in more than three years, the government said yesterday in a report offering hope that the economic recovery was on track
    AP  -  393 words
  • Article, Illustration
    Lock icon Polish govt resigns to protest ex-communists' demands
    341 18 Reuter WARSAW Polish Prime Minister Jan Krzysztof Bielecki announced the resignation of his eight-month-old Solidarity government yesterday. Mr Bielecki told parliament the government was stepping down in protest at a demand for its removal by ex-communist deputies. He made the announcement shortly before
    Reuter  -  341 words
  • Article
    Lock icon West Germany's GNP up but growth may slow soon
    432 18 Reuter BONN Western Germany's gross national product surged strongly between April and June, but the government said yesterday the rise would slow in the second half of the year. The Federal Statistics Office in Wiesbaden said GNP, a broad measure of
    Reuter  -  432 words
  • Article, Illustration
    2 die in Keppel Shipyard fire
    295 18  -  By Rahita Elias SINGAPORE A fire at Keppel Shipyard, which claimed two lives and injured six others yesterday, is unlikely to affect operations at its Tuas yard, said a Keppel spokeswoman. She said the fire is also not expected to delay repair work being
    295 words
  • Article
    Lock icon Sihanouk expects elections in Cambodia by end '92
    252 18 AFP PATTAYA Prince Norodom Sihanouk, the head of Cambodia's Supreme National Council (SNC), predicted here yesterday that United Nations-supervised elections may be held in his country by the end of 1992. The Prince told a press conference at this Thai beach resort
    AFP  -  252 words
  • Page 18 Advertisements
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      Page 18 Advertisements Column 1
      6 18 CHARTPOINT Every Saturday in Business Times
      6 words
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      Page 18 Advertisements Column 2
      190 18 ICHARTPOINTI Every Saturday in Business Times r mmkte I 9 m B' JPr f w d v jh J 4. mid A,- v4k J Now It's At The Top Of Orchard Road. Great Britain and America are home to some of the greatest New York await you Inspired by the
      190 words
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      Page 18 Advertisements Column 3
      46 18 CHANEL CARTIER GUCO KARL LAGERFELD CHRISTIAN LACROK KRIZIA iii DUNHILL THE HOURGLASS GIANNI VERSACE MILA SCHON JAEGER POLO RALPH LAUREN HUGO BOSS ETRO LEONARD GENNY CASEY THE BEAUTY BOUTIQUE PALAIS RENAISSANCE INTERNATIONAL BRASSERIE BASILE BLUE SPIRIT BURBERRYS SALVATORE FERRAGAMO CHRISTIAN DtOR ETIENNE AK3NER GEORG JENSEN MISSONI
      46 words
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  • Executive Lifestyle
    • Article, Illustration
      Clearing the mind of clutter
      1253 19  -  Meditation may seem like mere mumbo jumbo to some, but there are others who derive inner strength and mental calm from this ancient practice. Nirmal Ghosn talks to the believers Nirmal Ghosh AT THE Brahmakumaris Raja Yoga Centre in Katong, six people sit cross-legged, silent,
      1,253 words
    • STRAWS IN THE WIND
      • Article
        Sounds familiar
        46 19 TRUE to the spirit of election day for its fifth anniversary sale, Sogo Department store has been issuing paper bags that say: "Our heartfelt thanks for 5 wonderful years, sharing and growing with you for more good years." The PAP would drink to that.
        46 words
      • Article
        Come again?
        33 19 A REPORTER whose diction isn't too hot was heard asking a political candidate during a press conference: "Is this your first erection?" The candidate was apparently panting too heavily to reply.
        33 words
      • Article
        Dead beat
        74 19 WITH the election hustings coinciding with the ghost festival month, reporters unfamiliar with the various housing estates had a tough time getting to rally locations. What with all the tents looking alike, and the shouts of the auctioneers as aggressive as supporters shouting party slogans, it would have
        74 words
      • Article
        Taking it easy
        67 19 A SOMEWHAT irate reader wrote in to say that he had observed a sudden proliferation of hawkers milling around McCallum street around lunchtime. They seem to be doing a roaring trade without fear of prosecu--tion by hawker inspectors. He ventured to ask if they were taking advantage
        67 words
    • EPICURE
      • Article, Illustration
        Lock icon All out for the all-in
        565 20  -  Quek Swee Peng eats her way through Harbour Grill's four-course, fixed-price lunch Quek Swee Peng THE carte camp won't like the one-price offering. The objection: that its selection is restrictive. However, this can't be said of a number of restaurants. Certainly not of Harbour Grill's
        Punch  -  565 words
    • LIFESTYLE
      • Article, Illustration
        Lock icon Sorry, darling, gotta run...
        761 21  -  One of the things that sets us apart from the beasts is the fact that when women bring up the dreaded C-word (commitment), men pull on their Reeboks and respond with, Eat my dust, baby! Dave Barry discusses this anthropological phenomenon SAY Dave Barry Dave Barry
        Punch  -  761 words
      • Article, Illustration
        Searching for wines of consenting age
        853 21  -  N K Yong on the imperatives of drinking a properly aged wine N K Yong IN HELPING to design the wine list for a hotel here, I was struck by the difficulty in locating sufficiently mature wines that could be found locally. This is
        853 words
      • Article, Illustration
        Grand slamming the Icelandair despite a new partner
        372 21  -  A review of one of the game's best-known events BRIDGE By Sybil Holloway EVERY year in February, the Icelandair Open attracts a number of international top players. Zai Mohmood and his team (Paul Chemla, Schmuel Lev and Omar Sharif) combined well to
        372 words
    • PURSUITS
      • Article, Illustration
        Tedious liaisons
        690 22  -  Beautiful woman cheats on dried-up poet of a husband and sleeps with brooding artist. Take away the cliches and stereotypes and what's left? Jaime Ee watches a movie that's caught between lust and a blank wall Jaime Ee SOME women cheat on their husbands and are called adulteresses.
        690 words
      • Article, Illustration
        Art that leaves you cold
        587 22  -  The paintings on display are nothing to write home about. But Susan Tsang finds other consolations at the exhibition of Russian fine arts and crafts Susan Tsang IN SOME ways, the exhibition of Russian fine arts and crafts at the Art Base Gallery is similar
        587 words
      • Article, Illustration
        Specialist attention
        865 22  -  There's a new tyre clinic in town and the 'doctor' uses an 18,000 Italian 'stethoscope'. Samuel Ee reports Samuel Ee THE FINER details may. elude me but the rusty machinations of my mnemonic faculties still allow me to recount a road test of many years before, performed by
        865 words
    • PERSONAL FINANCE & INVESTMENT
      • Article, Illustration
        High hopes for SAE listing
        910 23  -  Selva Kumar looks at the company's prospects Selva Kumar HOPES are running high that the Singapore Automotive Engineering (SAE) share offer will follow sister company Singapore Electronic Engineering Ltd's (SEEL) footsteps. SEEL, listed last week, is now trading around $1.90, 55 cents more than its
        910 words
      • Article, Illustration
        Market diehards will soon be rewarded
        514 23  -  Let the good times roll, says Najeeb Jarhom OiART^ Najeeb Jarhom %Najetb Jarhom is research manager of Fraser Roach A Co. THE TECHNICAL rebound in the closing days of the topsy-tur-vy month of August augurs well for investors whose staying power has been tested
        514 words
    • SPORTS
      • SIDE LINES
        • Article
          Connors reaches third round of US Open
          92 24 NEW YORK Evergreen Jimmy Connors, who will be 39 on Monday, reached the third round of the men's singles at the United States Open here on Thursday when he defeated Michiel Schapers of the Netherlands in straight-sets. Connors, who recovered after trailing by
          92 words
        • Article
          Gamez takes two-stroke lead
          127 24 FRANKLIN, Wisconsin Robert Gamez fired a course record-tying 61 on Thursday to take a two-stroke lead after one round of the US$l million (551.71 million) Greater Milwaukee Open golf tournament. His fellow-Americans Mark Brooks and Karl Kimball opened with 635. Gamez, the US PGA Tour's newcomer
          127 words
        • Article
          Yes, he can run as a woman
          109 24 StPNEY A male athlete who has undergone a sex change operation will be permitted to continue competing in women's long distance events, Australian track and field officials said yesterday. "After a lot of investigation and discussion, we have accepted that this person is
          109 words
        • Article
          Agassi's loss won't affect status
          110 24 NEW YORK Andre Agassi's first-round loss at the US Open will not affect his playing status for the upcoming Davis Cup match between the US and Germany in September. "There's nothing different," said Tom Gorman, the US Davis Cup captain. "I plan to talk to
          110 words
        • Article
          Who's wearing which hat
          145 24 NEW YORK Hats. Hats. All the players are wearing hatsf Hats in all varieties seem to be the new fashion statement on the tennis tour this year. Many of the biggest natnes in the sport are wearing them, some of them seemingly all the time. Those
          145 words
      • Article, Illustration
        Lock icon Looking away from the net
        1042 24 Is winning big sapping the fight out of tennis golden boy Pete Sampras? NYT HE HAS finally discovered that life exists beyond tennis. He's got a new car, his first; a new condo. his first; a steady girlfriend, his first; and several new millions in
        NYT  -  1,042 words
      • Article, Illustration
        Lock icon Corporate America goes for gold
        754 24 The once amateur-pure USOC is facing the music of ringing cash registers AP THE OLYMPICS, all but bankrupt a decade ago, are turning over billion-dollar budgets as the '90s open. Corporate America now finances the nation's Olympic teams, some right down to individual Olympians in
        AP  -  754 words
      • Article
        Lock icon Croquet — no longer like old times
        771 24 Croquet no longer like old times A new generation of players is taking over NYT THERE is Mozart in the dining room and tea on the porch, served by waiters in black ties. Outside, against the long sweep of emerald lawn, men in Panama hats and women in light dresses
        NYT  -  771 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1109 25 c*y FlgM ETA rag* ETD Ma MmM GA890 0050 AMaU. QF81 1820 SQ227 QF82 2200 2200 Aaaaa RJ183 0030 SQ19 KL837 0755 1255 SQ24 KL838 SQ38 GA890 0100 2240 2330 2350 MOmi NZ21 SQ338 1820 2030 NZ22 1930 GF148 1000 hM GA525/ 910 1755 SQ18I 1410
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    • THE TRAVEL PAGE
      • Article, Illustration
        Paradise in the Indian Ocean
        572 25  -  LETTER FROM SEYCHELLES By Nicholas Woodsworth I HAVE discovered paradise. Does that sound like an unconvincing declaration? In an age of package holidays and glossy brochures, you may have heard the claim before. But this time it is genuine. Just consult the writings of that
        572 words
      • Article
        MONEY CHANGER RATES
        151 25 As at 3pm yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.3433 1.3547 Canadian dollar 1.4905 1.5131 NZ dollar 0.9767 0.9915 Sterling pound 2.8859 2.9100 US dollar 1.7170 1.7210 Local dollars to 100 inhs of foreign currency Austrian schilling 13.840 14.050
        151 words
      • Article
        WORLD TRADE EXHIBITIONS
        68 25 Duration Title Venue Organiser Td Duration Title Venue Organiser Sep 1-4 International Netherlands Koninklijke *****5591 Sep 4-7 Cattle Asia'91 Bangkok Conference lltSM*. —Intl Beef Exhibition Furniture Fair Nederlandse Management Jaarbeurs Equipment Services i Technology Pte Ltd Conference Sep 3-8 Furniture and Helsinki. The Finnish Fair *****5091 Sep
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    • TIME OFF
      • Article
        THEATRE
        102 26 SSO Concert Guest conductor Laurent Petitgirard. Soloist: Lynnette Scab Mei-Tsing (violin). Programme includes works by Mozart and Ravel. Victoria Concert Hall. Today. 8.15pm. Book Fair 91 More than 200 books specially brought in from UK will be displayed. The guest-of-honour is Doris Lessing, an internationally renowned British writer. Venue:
        102 words
      • Article, Illustration
        EXHIBITIONS
        237 26  -  Compiled by Yasotha M Exhibition: Frontiers of Chaot The exhibition views two new frontiers: the first is the recently explored boundary between determinism and apparent chaos in physical systems; and the second is a newly created area of overlap between the normally distant domains of pure mathematics and the
        237 words
    • Article, Illustration
      CINEMA
      611 26 An Innocent Mm. Tom Selleck is unfairly accused of having too thick a moustache, among other things. For that, they sentence him a life in Purgatory, without a television set. Cathay 2: 11; 1.30; 4; 6.45; 9.15. Atone! Tie me up or tie me down. Doesn't really matter, I'm
      611 words
  • Page 19 Advertisements
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      Page 19 Advertisements Column 1
      155 19 •'B D 0 24-hour Loan Information Service Approval* 3 3 4 3 s|B 8 4' 3 6 8 8 1 Since 1735 there has never been a quartz Blancpain watch. And there never will be. W vs <v Ym <* I&4A Sss^gg^^3P Mode) shown: 6595-1418 58 Blanc paiN Faithful to
      155 words
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  • Page 20 Advertisements
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      Page 20 Advertisements Column 1
      194 20 WHERE TO WINE, DINE AND ENTERTAIN WHEBE TO WINE, DINE AND ENTERTAIN WHEBE TO WINE, DINE GINGERBREAD AT CONNECTIONS NEED WE SAY MORE? BAR OPEN FROM 12.00 NOON TO 6.00 PM. HAPPY HOUR fit DJ MUSIC: 5.00 PM TO 8.30 PM. BAND PERFORMS FROM 9.00 PM TO 2.00 AM. Klfu
      194 words
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      Page 20 Advertisements Column 2
      326 20 flv VAfo 1 >#K J ooime&jf SUNDAY TEMPTATIONS Every Sunday, Nutmeg's brings to you exquisite culinary surprises, fine wines and champagnes and the relaxing chords 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++
      326 words
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      Page 20 Advertisements Column 3
      255 20 4W- 9*& L Why worry about breakfast or lunch on jJ E/i|oy a lazy Sunday morning? Come down TC_ rinnrt fcx brunch with your whole family and r feast on a delectable spread of hot Cantonese-Thai dishes, soups, appetizers and Buffet Brunch jmTkdfll desserts, all prepared to I In Town
      255 words
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      Page 20 Advertisements Column 4
      269 20 IK "daily AT .^COUK^H ■Klrßi Vou'll en)oy our delicious selection I B9i of authentic Beijing DlanXln served amidst the splendour of an Imperial I Hi Court. May we expect you today? I Ik^' From noon to 2.30 pm. 0327 X Ala carte menu available. BfjjQ La^H^HS I BhHtti fjfßfl I
      269 words
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  • Page 21 Advertisements
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      Page 21 Advertisements Column 1
      228 21 AND ENTERTAIN U.S. Food Promotion Savour the best of U.S. beef and lamb at Hubertus Grill from 1 to 31 August 1991. All steaks come with a Caesar Salad, Baked Idaho Potato, Grilled Tomato and a choice of Herb Butter, Bearaaise or Blade Pepper Sauce. A Sterling 5-course set menu
      228 words
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      Page 21 Advertisements Column 2
      192 21 ft fl BEETHOVEN H— CMII. Hfc »1.1 \f iwri. i N»» H 3EE pH mum J J J f 1 BEETHOVEN l» I PknDCoDocrto.N«»2As-Bn V eror j I I S*ta VMQph taopcttaWtaiy Workwrt 1 1 *****21 NAXOS Compact Discs... Superb performances and sound at a very modest price! 'Cnmmin if-if
      192 words
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  • Page 23 Advertisements
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      Page 23 Advertisements Column 1
      46 23 Bf MrW teLow iBF^W^ Equipment Systems. Engineer j V f f FOR PROFESSIONAL AIR CONDITIONING DESIGN AND SERVICE, YOU CAN DEPEND ON TEAM TRANE. f f Mr. Phuar Boon Hock Equipment Systems, Manager V THE BEST \ALI E CALL: 747 8622 FOR ENQUIRIES. FAX: 748 7465
      46 words
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      Page 23 Advertisements Column 2
      733 23 I K flß^ 1 &Lucky Draws 1 tt'ftcn you deposit M/it^^f Sf> h-.^,H<^l^F^.*S i^^R^.^^^^ D ri h Wkterr ,ft feS^ GRAND LUCKY DRAW 1 ut priu From 15 Au(u« WW to 29 Fctrary iw, VlteTfcptrtfcwr PMta 33" Hic» CTV vxh Mufc Syson 1 Of rmr. Fard Depoaa of 6 month,
      733 words
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  • Page 25 Advertisements
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      Page 25 Advertisements Column 1
      34 25 Geneva know when you'll need Finnair for Europe. Because Finnair flies twice-weekly from Singapore to Helsinki then on to over 30 European destinations. Call *****77 for details. We know Europe from start to Finnish.
      34 words
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      Page 25 Advertisements Column 2
      51 25 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 delivery
      51 words
    • Advertisement
      Page 25 Advertisements Column 3
      68 25 111 111 A beauty queen, a full-time lllwwl I I model, a winsome smile. ■■I ■■111 MM I I That's Lincy Kwan, the 1991 nv VI vT Vv LIZ 3t s xs WOu n M M ¥¥T She's never made the first I I IJk f m m move. But
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  • Page 25 Miscellaneous
    • Miscellaneous
      Page 25 Miscellaneous Column 1
      216 25 1 The most important ship9 Not a good achiever (4-4) |h| flfljH lH 11 Where it costs nothing to I I I I' I I rM live in non-communist street (4)_ returning still endlessly confused first (8) 8 Treading dangerously on 25 Bronte character booked at 28 Stretched out at
      216 words
    • Miscellaneous
      Page 25 Miscellaneous Column 2
      169 25 World report Asia-Pacific Hl/Lo* Cond. Auckland 14/08 Sunny Bangkok 32/25 Tstorm Beijing 27/16 Cloudy Brunei 31/24 Cloudy Hongkong 33/25 TStorm Jakarta 32/23 Fair Kuala Lumpur 33/24 Showers Manila 29/24 Rain Melbourne 15/04 Sunny Perth 22/10 Cloudy Seoul 34/24 Fair Sydney 16/05 Sunny Taipei 34/27 Fair Tokyo 29/20 Sunny Wellington 11/05
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    • Miscellaneous
      Page 25 Miscellaneous Column 3
      18 25 i;.I!U.AIUJ JSHtBWEI o'u-Twe-WiS~ v SCASI&C NEXT:, "fee ftfuHcw audjow wf) \we6K-.---- Ftv; C EVKHWO tTAWOAWO CO. LTD.. HC-IWI
      18 words
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  • Page 26 Miscellaneous
    • Miscellaneous
      Page 26 Miscellaneous Column 1
      1421 26 TODAY'S TV ■■■vuvhhhi Msnrnvmrnai 1030 sopor Mono btm v<:*m 1 ry——wi t fekj 830 n sud?u* (Canoon). Hi; mEJILJTni 10.50 D'Aa-ros La FaWo Do La f toon fM) Si 1 Kiri 0k 2 45 P". Travel Travel, lpm, SBC 5 Fentain. (Cartoon).. \l£ Mfeaaa PrltJi Saga. Rum verS Slt b
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    • Miscellaneous
      Page 26 Miscellaneous Column 2
      595 26 MOVIES ON TV Valsali, Mm, 10.30p«, tralia, with nothing but his SBC 12 charisma to carry him The king of Angadesh is told wro,e by his high priest to get a this scnpt with his son. man from the jungle to per- A MMth 4 Sandays, Wad, form a special
      595 words