The Business Times, 7 March 1992

Microfilm: NL17812
Total Pages: 30
1 30 The Business Times
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  • Title Section
    Masthead
    17 1 Business Times THE BUSINESS PAPER FOR S-E ASIA MITA (P) 35/12/91 Weekend Edition, March 7-8 1992 75*
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  • NEWS & MARKETS SUMMARY
    • Article
      US jobless rate jumped in February to 7.3pc
      68 1 WASHINGTON The US unemployment rate jumped to 7.3 per cent in February, the highest point since the recession began and the worst in 6-1/2 years, the government said yesterday. The Labour Department said 9.2 million Americans were without jobs, 2.8 million more
      68 words
    • Article
      Four Japanese businessmen charged
      32 1 TOKYO Japanese prosecutors formally charged four businessmen yesterday, ending the first phase of investigations into a loan and political scandal centring on the Tokyo Sagawa Kyubin trucking firm.
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    • Article
      Dow higher
      23 1 WALL STREET opened marginally higher yesterday, with the Dow industrial average gaining 4.70 points to 3,246.20 five minutes into the session.
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    • Article
      Footsie lower
      21 1 LONDON shares were lower at midday yesterday. At 1200 GMT, the FTSE 100 was down 7.2 points at 2,531.1.
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    • Article, Illustration
      STOCK INDICES
      29 1 Fri Change BT-MGA 696.53 -6.07 Kuala Lumpur ...590.94 -2.99 Tokyo 20,992.99 +128.57 Hongkong 4.908.90 -55.39 Sydney 1,604.7 -3.6 Thursday Change New York 3,241.50 -27.06 London 1,970.6 -17.9
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    • Article
      CURRENCIES
      24 1 Exchange rates USS SS 1.6570 100 Yen SS 1.2586 MX SS 0.6459 Money nwhet rales Overnight 3 1/8 +1/4 3-month 3 7/16 unch
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    • Article
      COMMODITIES
      37 1 London GoM AM fix USS350.55 USS0.95 Rubber S'pore Apr 134.25Vkg -0.25 M'sia Apr 209.00Vkg -1.00 KL Tin Turnover 43 tonnes +17 Spot MS 14.10/kg unch Crude palm ott Turnover 864 lots +359 Apr MS905 /tonne 7
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  • Article
    S'pore commodity traders key players in Indochina
    500 1  -  They ship about 50pc of region's commodities By Shoeb Kagda SINGAPORE Singapore commodity traders have established themselves as the key link between the fastgrowing Indo-Chinese economies and commodity consuming nations around the world. Using their marketing finesse, international connections and financial muscle, the
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  • Article, Illustration
    Lock icon Compaq chief: tough times for PC industry in next 2 years
    475 1  -  By Joseph Rajendran SINGAPORE The worldwide personal computer (PC) industry "will continue to be tough in the next one to two years" with more companies expected to drop out from it. Any sign of recovery will come from an
    Photo by Chris Loh  -  475 words
  • Article
    Glenn Knight's 3-month jail term changed to fine, one day's jail
    292 1 SINGAPORE Former Commercial Affairs Department director Glenn Jeyasingam Knight yesterday succeeded in his High Court appeal against a three-month jail term. Original sentences of two months' jail and one month jail, to be served consecutively, were set aside and
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  • Article
    S'pore lifts ban on S African imports
    121 1 SINGAPORE The prohibition on the imports of South African Roods has been lifted with effect from yesterday. Singapore imposed the ban on imports of South African goods in 1965. The administrative ban on the shipment and export of petroleum and petroleum products to
    121 words
  • Article
    Lock icon Tokyo adopts fiscal stimulus, raising hopes of rate cut
    325 1 Measures include earlier start for public works projects Agencies TOKYO The Japanese Cabinet adopted yesterday a package of fiscal measures designed to stimulate the slowing economy, the first such programme in five years, chief Cabinet secretary Koichio Kato said. The measures
    Agencies  -  325 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      230 1 Nikon •nf vfgnQ i rintw rnoroyßprnc oyvwrn. COVER The fittest fitness jfl centres. WwPJ' ml EL 1 DILfl I KL9 fl HI New franchise centre A FRANCHISE CENTRE will be formally set up by the National Productivity Board in the next few weeks, said Lim Boon Heng, the Senior Minister
      230 words
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      Page 1 Advertisements Column 2
      34 1 OPINIONS A look at the cash-for-place school policy. EL 2 LIFESTYLE Deciphering a German wine label. EL 5 New health column. EL 5 Property windfall on the cards for Lee Kim Tah, Pg 3
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      Page 1 Advertisements Column 3
      316 1 PURSUITS HISTORY IN TIME it s# if Vi i 1 Planetarium Copernicus. Handmade in IMct gold, individually numbered, sapphire crystal, water resistant to 30 m. Shockproof Lady Xewton. Automatic with pouer merit, small second and date indicator. IBct gold or steel/gold. Also available with a diamond set bezel nng. Planetarium
      316 words
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      Page 1 Advertisements Column 4
      18 1 Nikon ThtWbvM'tFlnMt WwlfpWc tyliw. FINANCE New treatment for bonds: the implications. EL 8 Investing in gems. EL 9
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      Page 1 Advertisements Column 5
      22 1 JOBS Focus on Japan: Working too hard. Popular and unpopular jobs. EL 10 Business confidence in Japan at four-year low, Back Page
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  • SINGAPORE NEWS
    • NEWS ROUNDUP
      • Article
        EDB's appoints three board members
        141 2 THE Economic Development Board on Feb I appointed three new board members for a one-year period. They are Chuang Kwong Yong, permanent secretary, Ministry of Labour, Dr John Chen, assistant secretary-general of the National Trades Union Congress and Robert H Becknell, vice-president and director of
        141 words
      • Article
        Domino's Pizza opens in S'pore
        52 2 DOMINO'S PIZZA, the world's largest pizza delivery company, has opened an outlet in Singapore. The outlet is the first of a 20-outlet area franchise agreement signed by Conner Pizza (Singapore) Pte Ltd. Based in Hongkong, Conner Pizza plans to open the 20 outlets in Singapore
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      • Article
        US Harrier jet crashes
        50 2 A UNITED STATES Marine Corps AV-8 "Harrier" crashed shortly after take-off from Paya Lebar Airport yesterday in a palm oil plantation, about 32 km east of Johor Barn. The cause of the crash is unknown. A board of officers will be convened to investigate the incident.
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    • Article, Illustration
      NPB to set up franchise centre in the next few weeks
      260 2  -  By Hong Lee Tiam THE National Productivity Board will set up a franchise centre in the next few weeks, the Senior Minister of State for Trade and Industry, Mr Lim Boon Heng, said yesterday. Speaking at the launch of
      260 words
    • Article
      Creditors of former Desaru developer fail to get paid
      345 2  -  By Dawn Tan CREDITORS of the debtridden former developer of Johor's Desaru resort again failed to get any of their money yesterday. Thirteen representatives of an estimated 275 creditors of Desaru International Resort Sdn Bhd (DIRSB) met company officials for three
      345 words
    • Article
      Local firms escape Michelangelo virus
      351 2  -  By Joseph Rajendran A SURVEY of 10 Singapore companies by BT showed that they went through March 6 unaffected by the Michelangelo virus. On the other hand, their counterparts in the United States and Japan were badly hit. The virus, which destroys information contained on
      351 words
    • Article
      Cutting the red tape for government pensioners
      302 2 GOVERNMENT pensioners now need to remind the government only once every year that they are still alive, if they want their pension cheques. It used to be that they had to fill up and send the affirmation forms every three months, and they
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  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      552 2 u u-- h. n II i 11 vtssa toy wo «rm Arm* mpamie Marina Terminal 1 Batam Baru B131 M04 0703/2300 Batam Mam *****2 M04 alongside 0703/2300 Batam Mum *****2 M05 aiw^ade 06.03/2300 Batam Sayai* *****2 M04 akx*sde 06 03/2300 Batamndo 1 168S Ml alongside 06 03/1900
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    • Article
      IN MALAYSIAN PORTS
      148 2 Pcnam Port In to roads; Alfesani, Sin Loong, Pu Cheng, Rohas Ria, Crane Star, Jm Lm Yang, Hock Huat. Azam I, Pernas Butane. Duo on Mar 6: Dragon Berani, Pernas Propane. Paula B, Sua. Frota Rio. Dim on Mar 7: Tasman Sea Kuwtan Port In tlw roads:
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    • Article
      CONTAINER SCHEDULE
      949 2 >i jk'i FCL CONTAINERS AND LCL a IRGO 9* Voy No Etb/Btr Itcard 'wlOO Bookmi/fMra From To Mts Fran ACX l*i 21A 08/0400 06/1500 06/1659 06/1900 ACX Ruby 46A 08/0700 1 06/1700 07/0700 07/0659 07/1159 07/0900 07/1400 AJu 8hum 133S 07/2300 1 2 06/1500 06/1700 06/1659 07/0659 06/1900
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  • COMPANY NEWS 1
    • Article
      Property windfall on the cards for Lee Kim Tah
      383 3  -  Alexandra Road site may be sold to AIA for $50m to 100 m By Lee Han Shih SINGAPORE A signing ceremony on Monday could sec listed contractor Lee Kim Tah Holdings (LKT) making more profit in a single deal that it
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    • Article
      Lock icon Renong to buy Metramac for M$150m
      244 3 Bernama KUALA LUMPUR Renong Bhd has agreed to buy the entire share capital of Metramac Corporation Sdn Bhd from Metro Juara Sdn Bhd for Mslso million cash. In a statement yesterday, Renong said Metramac's business would complement the listed group's activities in road construction,
      Bernama  -  244 words
    • Article, Illustration
      Singmarine, NOL launch vessels
      306 3 SINGAPORE Singmarine Industries and Neptune Orient Lines subsidiaries respectively celebrated the launchings of a $9 million ore bulk carrier and a $26 million containership yesterday. Singmarine Dockyard Engineering won the contract to build the 71-metre Kamora from Freeport Indonesia, a subsidiary of the world-leading. United Statesbased
      306 words
    • Article
      Superior Metal Printing's group earnings rise 30pc
      259 3 SINGAPORE Higher turnover and stable raw material costs helped lift Superior Metal Printing Ltd's (SMP) group net earnings by almost 30 per cent to $2.64 million for 1991. In an announcement yesterday, SMP said group turnover grew 17.6 per cent to $30.29 million,
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    • Article
      Lock icon Dunlop Estate plans major resort on land to be acquired
      260 3 Bernama KUALA LUMPUR Dunlop Estate Bhd's proposed acquisition of 17 properties in Kota Tinggi. Johor, will allow it to expand into a multi-mil-lion dollar leisure resort, its director, Lim Thian Kiat said yesterday. Speaking to journalists after the company's extraordinary
      Bernama  -  260 words
    • Article
      First Capital Corp cuts interim losses to $545,000
      479 3  -  By Lilian Ang SINGAPORE First Capital Corporation (FCC), which lost $4.52 million previously, has slashed its losses to $545,000 for the half-year ended Dec 31, 1991. Analysts say the propertybased group should be able to stage a turnaround by the time the
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    • COMPANY BRIEFS
      • Article
        Guthrie raises stake in L&M to 37.23pc
        53 3 SINGAPORE Guthrie Manufacturing (S) Pte Ltd yesterday bought 51,000 shares in L&M Group Investments (S) Pte Ltd at $1.65 apiece. Its parent, Guthrie GTS Ltd, with associated parties, now controls 24.9 million L&M shares, representing 37.23 per cent of the issued and paid-up
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      • Article
        IJM's pre-tax profit up 136pc
        89 3 KUALA LUMPUR IJM Corporation Bhd's group pre-tax profit soared 136.2 per cent to M 531.436 million (5520.3 million) for financial year ended Dec 31, 1991, from M$ 13.308 million a year before. Sales was M 5639.745 million compared with M 5501.932 million in the previous
        89 words
      • Article
        DBS Land subsidiary set up
        71 3 SINGAPORE DBS Land has set up a wholly-owned subsidiary to own and manage a Disney-style adventure ride being planned for Clarke Quay, Singapore's largest conservation project. The company, Clarke Quay Adventure Pte Ltd, has an authorised capital of 100,000 and a paid-up capital of $25,000.
        71 words
      • Article
        SSL interest income at $11.7m
        58 3 SINGAPORE Straits Steamship Land Ltd said the group earned $11.77 million in interest income for 1991 against $16.35 million the year before. It also incurred $8.55 million in interest expense in 1991, compared to $4.85 million previously. The group's gross first and final dividend of
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      • Article
        Morgan Stanley ups NOL stake
        41 3 SINGAPORE Companies associated with the Morgan Stanley Group Inc bought on Monday 252,000 shares in Neptune Orient Lines Ltd at $1.65 apiece, or $416,858. Morgan Stanley now holds a stake of 10.46 per cent in NOL.
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      • Article
        Mun Loong cleared by ministry
        89 3 KUALA LUMPUR Mun Loong Berhad has been told by the Domestic Trade and Consumer Affairs Ministry that it has not committed any ofTence under the cheap sale regulations. In a statement yesterday, Mun lx>ong assured its customers that it does not mark up prices before
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      • Article
        PMCW answers KLSE queries
        60 3 SINGAPORE In a reply to the Kuala Lumpur Stock Exchange, Pan Malaysia Cement Works Bhd (PMCW) said the sales price of a 50 per cent stake, or 3.05 million shares, in Intercontinental Properties Sdn Bhd. was based on the net tangible assets of the company. PMCW
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    • COMPANY BRIEFS
      • Article
        Coles raising NZ$200m with supermarket float
        99 4 WELLINGTON Coles Myer Ltd said yesterday it would proceed with refloating at least 60 per cent of the New Zealand supermarket chain Progressive Enterprises Ltd. It said it would offer an underwritten minimum of 100 million fully paid ordinary shares at NZ$2.OO (S$ 1.81)
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      • Article
        SEC: Exxon must allow vote
        109 4 NEW YORK In a victory for shareholder activists, the Securities and Exchange Commission has told Exxon Corp yesterday that it must allow shareholders to vote on a proposal to set up a special panel representing big shareholders to oversee the performance of the company's board.
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      • Article
        Pay cut for Yamaha executives
        77 4 TOKYO Seisuke Ueshima, the new president of Japanese musical instrument giant Yamaha Corp, has decided to punish directors for the company's reduced profits by cutting their salaries, a spokesman said on Thursday. The spokesman said the pay cuts would last for six months with the
        77 words
      • Article
        Upjohn completes acquisition
        83 4 KALAMAZOO. Michigan Upjohn on Thursday announced it had concluded its acquisition of Pakistan's Kurram Chemical Company Limited, a subsidiary of Pakistani state-owned Federal Chemical and Ceramic Corporation Limited. Details of the US firm's buyout were not disclosed. Upjohn first reached a licensing accord with Kurram in June
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    • Article, Illustration
      Lock icon Rolls-Royce pre-tax profits nosedive, warns of staff cuts
      235 4 Reuter LONDON British aeroengine maker Rolls-Royce pic on Thursday warned of staff cuts after its 1991 pre-tax profits nosedived, due to recession in the airline industry. Profits fell to £51 million (S$ 144.8 million) from £176 million. But the group pleased the
      Reuter  -  235 words
    • Article, Illustration
      Lock icon Plaza Indonesia to offer 30m shares to public
      354 4 Agencies JAKARTA PT Plaza Indonesia Realty, owner of a major Jakarta hotel and shopping centre, said on Wednesday it will offer 30 million shares to the public through the Jakarta stock market. Mr Boyke Gozali, director of the company, said the stock,
      Agencies  -  354 words
    • Article
      Lock icon Alan Bond closer to bankruptcy
      347 4 Reuter SYDNEY Former tycoon Alan Bond, dubbed Australia's corporate Houdini for his knack of getting out of tight spots, yesterday ran out of time in his fight to stave off bankruptcy, but is now trying another legal avenue of appeal. Federal Court Judge Trevor Morling
      Reuter  -  347 words
    • Article
      Lock icon Macy to close I Magnin branches and specialty stores
      417 4 AP NEW YORK R H Macy and Co Inc began a revamp on Thursday, announcing the closure of five I Magnin branches and more than 50 specialty stores as part of the famous retailer's bankruptcy reorganisation. Macy decided to close I
      AP  -  417 words
    • Article
      Lock icon Japanese group buys back stake in Inter-Continental
      249 4 AFP TOKYO Japan's SeibuSaison group yesterday said it would buy back for an undisclosed sum 40 per cent of Inter-Continental Hotels Group Ltd it sold to Scandinavian Airlines System (SAS) for US$5OO million (*****.5 million) in 1989. A statement by Seiyu Ltd, a
      AFP  -  249 words
    • Article
      Lock icon Motorola in chips supply deal with Japanese firm
      444 4 FT LONDON Motorola of the US and Alps Electric of Japan have reached an agreement seen as a possible forerunner to other collaborative deals between Japanese and Western companies. The arrangement means that products based on the two companies' joint semiconductor research
      FT  -  444 words
    • Article
      Lock icon Cojuangco poised to take control of San Miguel
      349 4 Reuter MANILA Tycoon Eduardo Cojuangco has moved closer to regaining control of beer giant San Miguel, the Philippines' largest private company, after a major court victory, business analysts said on Thursday. Mr Cojuangco, among eight people running for president in national elections
      Reuter  -  349 words
    • Article
      Tougher regime gives stocks a boost
      606 4  -  MONTHLY ROUNDUP IBJAK'AICTrAIii Indonesian market shows signs of maturing By Maggie Ford CONSOLIDATE, take profits, buy selectively and wait for the good news that is bound to come, say brokers operating in an Indonesian market that has shown signs of recovery in the past
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      Page 3 Advertisements Column 1
      178 3 P) I EXPO HONGKONG GIFTS HOUSEWARE FAM HONG KONG WATCH ft CLOCK FAIR ijjooGi wSSnM fig INTERNATIONAL AUIMO VISUAL SHOW TOYS GAMES FAIR gj|K a f I I I. HONG KONG FASHION WEEK nONGKONC ELESS^A. OPT,CAL HONC PREMIUM SHOW EXPO BOOK HONG KONG INTERNATIONAL FAIR JEWELLERY SHOW HONG KONG: ASIA'S
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      132 4 Scenes.^ "Singapore Scenes", a special career feature on 4 April '92, is an excellent opportunity for companies to extend their recruitment overseas. i X This feature. Which precedes the forthcoming Career Fair to be held in Australia and New Zealand between July and August; will keep Singaporeans overseas and qualified
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  • FINANCIAL NEWS
    • Article, Illustration
      Lock icon S Korean firms likely to borrow less this year
      357 5  -  Govt restrictions, foreign funds cited as reasons By Kooi Cho Teng SINGAPORE South Korean companies, which were among the largest borrowers in the Far East last year, are unlikely to have the same impact in 1992, says Korea Merchant Banking Corporation
      Source: Asia Money and Finance  -  357 words
    • Article, Illustration
      Greenback's impressive rally prompts fears of correction
      453 5 DBS Bank weekly currency review USD/DMK: Outlook remains bullish The US dollar bounced off the 1.6300 support level to stage an impressive rally this week, reaching a high of 1.6805 on Thursday. Although the outlook for the dollar remains bullish, some correction may
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    • Article
      Free fall on Wall Street unlikely: analyst
      485 5  -  MARKET TALK By S N Vasuki SINGAPORE Though the Dow continues to take a mild beating on Wall Street this week (it retreated by 27 points on Thursday) and there are fears that a major correction may be around the corner. Mr Jim
      485 words
    • Article, Illustration
      Lock icon FDIC rejects deal to recover Drexel losses
      496 5 NYT NEW YORK Federal Deposit Insurance Corp said on Thursday that its board had rejected the US$l.3 billion (Ss2.l billion) settlement that its lawyers had reached last month with Michael Milken, the former junk bond chief of Drexel Burnham Lambert, and hundreds of
      NYT  -  496 words
    • Article, Illustration
      Lock icon Swiss Bank Corp's profits jump despite huge provisions
      420 5 FT BASLE Swiss Bank Corporation (SBC), the country's second largest bank, increased 1991 consolidated net profits by 24.7 per cent to Sfrl.o3 billion (551.14 billion), in spite of soaring provisions for bad debts. Walter Frehner. chief executive. said that the S3C group
      FT  -  420 words
    • SMALL CHANGE
      • Article
        Sihanouk's daughter helps set up Cambodian bank
        73 5 BANGKOK A daughter of Prince Norodom Sihanouk has joined a group of Thai businessmen to open a commercial bank in Phnom Penh, financial sources said here on Thursday. The new bank, the Cambodia Farmers Bank, is being jointly set up by Princess Arun
        73 words
      • Article
        No receipts for POSBank fast cash
        63 5 SINGAPORF POSBank said yesterday it will not issue receipts tor fast cash withdrawals at 60 of its new-generation ATMs. Fast cash withdrawals are withdrawals of $50. $100, $200. $300. $500 and $1,000. POSBank said the move is part of its support of a greener
        63 words
      • Article
        Visa's sales volume up 16pc
        81 5 LONDON Visa International, owned and operated by 22,000 financial institutions worldwide, said on Thursday its total 1991 sales volume rose 16 per cent to US$4O9 billion (***** billion). Visa said the number of cards in circulation rose 9 per cent to 281 mijlion and paid
        81 words
      • Article
        Barclays to pull out of Uganda
        91 5 KAMPALA Barclays pic said it was winding up operations in cash-strapped Uganda, ending its 70-year presence in the East African country as part of a global reorganisation strategy. And in Nairobi, officials of the UK-based bank said it was exploring ways of re-establishing itself
        91 words
      • Article
        Midland to bid for French unit
        78 5 PARIS British merchant bank Midland announced on Thursday that it would make a bid to buy the 28.8 per cent of its French subsidiary. Midland Bank SA, that it does not already own. The British bank, which has encountered a number of problems over
        78 words
      • Article
        Hamburgische's profits rise 55pc
        55 5 HAMBURG Germany's Hamburgische Landesbank Gvrozentrale said 1991 partial operating profit rose by 55 per cent to 248 million marks (***** million) from a year earlier. It said operating profits, including profits from trading activities, rose by 90 per cent to 303 million marks. Hamburgische acts as
        55 words
      • Article
        May debut for Polish mutual fund
        73 5 WARSAW Shares in Poland's first mutual fund, the Pioneer Polish Equity Fund, will go on sale to the public at the start of May, the fund announced on Thursday. The fund has been set up by Pioneer First Polish Trust Fund Corporation as a
        73 words
    • Article
      Lock icon Japan's Big Four securities firms see profits plunging
      303 5 NYT TOKYO Japan's Big Four securities firms said on Thursday that they expect to report a drastic fall in ordinary profits, or even record deficits, for fiscal 1991. which ends on March 31. The expected plunge in profits from the previous fiscal
      NYT  -  303 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      40 5 PRIME RESIDENTIAL FREEHOLD BUNGALOW AT 49 LEEDON PARK, DISTRICT 10. i*rf.oo tllJ f FORSAXiBYTCNDER Closing Date: 18 April 1992,3 pro e^ eva t©djand qq^J For tender conditions and details, please contact: Sole Marketing Agent Jones Lang Wootton Tel: 220 3888
      40 words
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  • THE REGION
    • NOTE BOOK
      • Article
        Drought may hit Indon rice output again
        72 6 JAKARTA A severe drought is expected to further damage Indonesian foodcrops already hurt by failed rains last year, the National Meteorology and Geophysics Agency said yesterday. An agency official said the dry season, which normally coincides with the harvest of the main rice
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      • Article
        Dissidents barred from returning
        90 6 JAKARTA Under a new law, any Indonesian citizen who has displeased the government while overseas will be barred from returning to the country, according to press reports yesterday. The controversial measure to ostracise Indonesians considered to be troublemakers was proposed by the army, which is represented
        90 words
      • Article
        China-Vietnam rail link reopening
        105 6 BEIJING The railway line linking China and Vietnam is to reopen soon for the first time since the two neighbours went to war 13 years ago, the Chinese government said yesterday. Work on the Chinese section of the line linking the city of Pingxiang in the
        105 words
      • Article
        Philippine inflation down
        75 6 MANILA The Philippines' annual inflation rate fell to 8.9 per cent in February, the first time it returned to single-digits since January 1989, the National Statistics Office (NSO) said yesterday. This was a sharp decrease over the 10.8 per cent inflation rate posted in January, the NSO
        75 words
      • Article
        Banker guilty in Marcos deal
        61 6 NEWARK, New Jersey A New York investment banker has admitted to structuring an arms deal designed to put former Philippine President Ferdinand Marcos back in power months after the dictator was exiled. Robert Steele, 51, the owner of the Commonwealth Group Ltd in Manhattan, pleaded
        61 words
      • Article
        HK defends refugee screening
        69 6 HONGKONG The Hongkong government's screening process for Vietnamese boat people meets international standards, the British colony said yesterday, rejecting criticism by an international human rights group. The New York-based Lawyers Committee for Human Rights had said that thousands of Vietnamese boat people with good cause for
        69 words
    • Article
      Bangkok calls for review of US-Thai treaty
      473 6 Move follows stalemate in copyright talks BANGKOK Thailand has called for an urgent review of the bilateral economic cooperation treaty which offers better treatment to Americans than other nationals after the two sides failed to compromise on Thai protection of US intellectual property
      473 words
    • Article
      Lock icon Critics slam N-plant suit deal
      375 6 Fresh political issue in already heated Philippine electoral contest AFP MANILA The Philippine government's decision to reach a US$lOO million settlement with US firms which built a nuclear power plant west of here has met immediate opposition. The settlement suspended Manila's suit against plant builder
      AFP  -  375 words
    • Article
      Lock icon US admiral regrets loss of Subic base
      322 6 AP WASHINGTON The United States Navy's Pacific commander said on Thursday that the scheduled shutdown of America's last military bases in the Philippines could make it harder to wage a major operation like the Gulf War. What will be missed most is the
      AP  -  322 words
    • Article, Illustration
      Lock icon M'sia-Thailand trade hits record high
      275 6 MBT KUALA LUMPUR Trade between Malaysia and Thailand reached a record high of Mss billion (553.2 billion) as of November last year, compared with M 54.6 billion throughout 1990, and is on the uptrend. "This increase has made us realise the potential of in-tra-Asean trade.
      MBT; Source: Dept of Statistics (M)  -  275 words
    • Article
      Lock icon Aussie fraud squad gets calls worldwide
      304 6 AFP ADELAIDE Investors worldwide were yesterday making contact with Australian police after the breaking of a huge racket involving hundreds of millions of dollars worth of counterfeit Thai promissory notes. Chief Inspector Paul Schramm, head of the South Australian fraud task force, said four
      AFP  -  304 words
    • Article
      Philippines: saints and sinners to march into presidential office?
      570 6  -  Cory stirs up a hornets' nest with remarks on morality From Evangeline Gamboa in MANILA THE CAMPAIGN for the Philippine presidential election is heating up, but the issue that has many Filipinos steaming is not one of politics but of morality.
      570 words
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      Page 6 Advertisements Column 1
      168 6 SingaPort 1992 To-date, Singapore's shipping and maritime technology has come off age. And to mark this maturity, Business Times W P u^,ish n 9 SingaPort '92 I Supplement on March 25,1992 to tie in \ffSSm 1 °ff' c al opening of SingaPort '92 International Maritime Conference and Exhibition(on till March
      168 words
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  • THE WORLD
    • Article
      Lock icon Major trading nations plan big cuts in tariffs
      395 7 Reuter GENEVA Many major trading nations intend to cut tariffs on industrial imports by substantially more than required in the Uruguay Round of trade talks, a Gatt meeting was told on Thursday. But few countries have submitted comprehensive revised offers on slashing
      Reuter  -  395 words
    • Article
      Lock icon US relaxes curbs on sensitive telecoms exports
      574 7 NYT WASHINGTON The United States has reached tentative agreement with Europe and Japan to loosen international controls on exports of advanced telecommunications equipment, administration officials said. The pact represents a basic shift in American policy toward the former Soviet republics. The officials said
      NYT  -  574 words
    • Article
      Lock icon Return of shoppers in February brings cheer to US stores
      605 7 NYT WASHINGTON Monthly sales reported by America's largest retail chains, one of many factors in the fever chart of a troubled economy, indicated on Thursday that an unusually large number of Americans were buying again in February, a sales month
      NYT  -  605 words
    • Article
      Lock icon North-South Korean economic exchanges hit snag
      212 7 AFP SEOUL The rush by South Korean firms to do business with North Korea has bogged down as Seoul moves to link economic cooperation with progress on halting Pyongyang's nuclear weapons development, officials said yesterday. Press reports said the government had decided to bar
      AFP  -  212 words
    • Article, Illustration
      Lock icon Venezuelan president backs down on some reforms
      360 7 AP CARACAS Venezuelan President Carlos Andres Perez announced on Thursday a package of sweeping economic and political changes aimed at easing tensions following last month's failed coup attempt. But some business experts said the changes could alter the government's free-market economic reforms and
      AP  -  360 words
    • Article
      Lock icon Russia to privatise up to one third of farmland this year
      389 7 Reuter MOSCOW Up to a third of Russia's agricultural land will be privatised by the end of the year but private farmers cannot yet feed the country, a senior government official said on Thursday. Nikolai Komov, in charge of
      Reuter  -  389 words
    • WORLD WATCH
      • Article
        Allies stepping up pressure on Iraq
        98 7 LONDON The Gulf War allies are weighing new measures, including seizure of frozen Iraqi assets, to step up pressure on Baghdad to comply with United Nations demands. British Foreign Secretary Douglas Hurd said "strong pressure" was building against Iraqi President Saddam Hussein and he
        98 words
      • Article
        Slowdown in German electronics
        62 7 FRANKFURT Production growth in Germany's electronics industry is forecast to slow to about 3 per cent in 1992 after growth last year of 5.6 per cent. Franz-Josef Wissing, chief executive of the electronics industry trade group ZVEI, said that 1991 growth was due mainly to strong
        62 words
      • Article
        Taiwan's reserves hit new high
        65 7 TAIPEI Taiwan had accumulated a record US$B2.B billion (S$ 136.6 billion) in foreign exchange reserves at the end of January, the highest in the world, Central Bank of China (CBC) officials said yesterday. Thanks to the country's trade surplus, January's foreign exchange reserves jumped from
        65 words
      • Article
        Russia to import coking coal
        53 7 MOSCOW Russia is allocating US$5OO million to buy coking coal from abroad to halt the slide in output of iron and steel. According to an order from Finance Minister Yegor Gaidar, published by Itar-Tass news agency on Thursday, the money would come from the government's
        53 words
      • Article
        Keeping the stork away
        39 7 WASHINGTON India, Thailand, Morocco, Colombia and Kenya have made significant progress in controlling population growth while the United States, Philippines Saudi Arabia, Malawi and Haiti have lagged, said a report from the Population Crisis Committee.
        39 words
    • Article, Illustration
      No trunk calls, please
      37 7 WASHINGTON Animal rights activists wearing elephant masks attempting to climb over the north fence of the White House grounds were intercepted by a Secret Service uniformed policeman on Wednesday. No arrests were mad<
      37 words
    • Article
      Lock icon The rich keep getting richer in the US
      488 7 Reuter NEW YORK Some people have believed it for years, but now it is official the rich are getting richer in the United States and the poor are getting poorer. And the middle class is doing neither. According to figures prepared by
      Reuter  -  488 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Market cautious while waiting for US jobs data
      4164 8  -  By Carolyn Lim CAUTION was the hallmark of the Singapore market yesterday as investors held their breaths ahead of the wave of corporate results announcements in the next three weeks and the release of US unemployment data last night. "Basically the market
      4,164 words
    • Article, Illustration
      HOT STOCK
      57 8  -  Anthony Pang Comment WITH yesterday's 80-cent plunge, the stock has broken its short-term trend line (AB). For the longer-term uptrend to be sustained, support should come in at the $5.60-$6.00 level. Fiveday and five-week stochastics are still heading south, suggesting more downside risks despite the good possibility of
      57 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 3
    3285 10 H Leong Ind 50* 535 +10 +1.9% M Banking 510 +5 +1.0% Guinness 50* 352 +4 +1.1% H Leong Credit 233 +3 +13% Boustead 50* 173 +-2 +1.2% Cons Plant 50« 143 +2 +1.4% Land General 159 +2 4-1.3% MBf Finance A 65 +2 +3.2%
    3,285 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      91 10 Your Key To Prime Space yy j—iv J7 rf~f^J/ V J lyp)* f* i r^c4) Our special property focus "Commercial Industrial Properties" in The Straits Times Classified and Lianhe Zaobao Mini-ads will be published on 25 March 27 March respectively. This presentation of office, retail and industrial properties will interest
      91 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Market closes easier in lacklustre trade
      5095 11 Blue chips are the hardest hit Bernama SHARE PRICES in the Kuala Lumpur stock market ended broadly easier yesterday in lacklustre trading due to a lack of institutional support, causing local investors to be sidelined. Quality stocks were the main casualties. Malaysian Airline System,
      Bernama  -  5,095 words
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  • STOCK EXCHANGE OF THAILAND
    • Article
      Lock icon Property and bank stocks fuel market's rise
      2327 12 Reuter BANGKOK share prices ended higher yesterday on late gains by banks and property firms after investors took profits on Finance issues which had opened strongly, brokers said. "There was no clear direction to trade but the three sectors banking, property and finance
      Reuter  -  2,327 words
  • JAKARTA STOCK EXCHANGE
    • Article
      Shares inch up in slow trade
      1114 12 JAKARTA share prices closed higher in yesterday's half-day trade, with the official index edging up one point up to 283.21, brokers said. Trading was slow and turnover fell to 3.80 million shares from Wednesday's 4.39 million. The market was closed on Thursday. Sampoerna closed
      1,114 words
  • Page 12 Advertisements
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      Page 12 Advertisements Column 1
      14 12 Timeszone Central is an easy-to-read pull-out tabloid appearing every Thursday in the Central Zone.
      14 words
    • Advertisement
      Page 12 Advertisements Column 2
      100 12 Gellhf S PICK of the fl| crop m AOfamwE rout Jtm opaams FOR SUCCESSFUL MANAGEMENT OF YOUR BUSINESS Stories on labour and its relationship with management, management concepts in practice, profiles of leading managers in Singapore and relevant book reviews. ENTERPRISE MANAGEMENT, in Business Times every Monday, is must reading
      100 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Nikkei higher, but broad market down
      2499 13 Reuter TOKYO'S key Nikkei Average closed higher yesterday but the broad market ended down. Investors were numbed by a lack of factors and paid little attention to the Bank of Japan's quarterly economic survey. But light program and individual buying supported the market. "There
      Reuter  -  2,499 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Shares tumble on rights issue rumour
      2631 13 Reuter HONGKONG share prices finished sharply lower yesterday, but off the day's lows, on rumours of a rights issue by a blue chip company, brokers said. "Some rumours of a largescale rights issue by a major blue chip dragged the market down," said Antony
      Reuter  -  2,631 words
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  • AUSTRALIAN STOCK EXCHANGE
    • Article, Illustration
      Lock icon Stock prices end off lows on bargain hunting
      2233 14 Reuter BARGAIN HUNTING by local investors in the last hour of trade yesterday lifted the Australian stock market ofT its lows. Brokers said the market performed well after falling away sharply in early trade following offshore slumps overnight. "Lower than normal volumes
      Reuter; SOURCE: PONT DATA  -  2,233 words
  • REGIONAL STOCK MARKETS
    • Seoul shares end higher on technical rebound
      • Article
        SEOUL
        779 14 SEOUL stocks ended up on a technical rebound in lethargic trading yesterday to finish above the 620-point level with active bargain hunting centred on financial shares, brokers said. The composite stock index jumped 6.86 points to 626.09 at the close of the session. Trading was moderate at 19.9 million
        779 words
      • Article
        MANILA
        569 14 STOCKS fell sharply across the board from start to finish yesterday as traders reacted to Manila's out-of-court agreement with Westinghouse Electric Corp on a disputed nuclear power plant in the Philippines. The Manila Stock Exchange composite index lost 38.80 points and closed at 1,118.81. "It's probably not wrong to
        569 words
      • Article
        Untitled
        54 14 INDiCES TURNOVER Clow Mar 7 Preriuaa NEW ZEALAND NZSE-40 Capital 1.460 48 1.465.18 -4.70 MANILA Composite Index I.I 18.81 1.157.61 -38 80 Turnover (million) 833.1 304.5 f 528.6 TAIPEI Weighted Price Index 4.988.08 5,033.53 -45.45 Turnover (NTS billion) 23.0 23.7 -0.7 SEOUL Composite Slock Index 626.09 619.23 6.86 Turnover (billion
        54 words
      • Article
        NEW ZEALAND
        268 14 NEW ZEALAND shares ended lower in lacklustre trade yesterday, the main feature being the sale of 3.2 million Wilson Horton shares. All but 1,700 of the shares were brokered by Welling- ton's Doyle Paterson Brown. The NZ$l9.4 million sale at NZ56.42 per share amounted to just over 4
        268 words
      • Article
        TAIPEI
        344 14 THE stock index fell to finish below the 5,000-point level as trading interest and confidence were lacking. The Weighted Index slid 45.45 points to close at 4,988.08. Turnover was NTS 23 billion against NT523.7 billion on Thursday. Investors were reluctant to trade without stimulating news and the market continued
        344 words
      • Article
        BOMBAY
        49 14 BOMBAY Stock Exchange brokers yesterday boycotted trading in protest against delayed settlements amid rumours of a payment crisis. "Brokers did not want to resume trading until pending settlements are completed," Bombay Stock Exchange president Hemendra Kothari said. "No one wants to increase commitments without knowing the exact position."
        49 words
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  • WORLD STOCK MARKETS
    • Wall St falls another 27 pts in nervous trade
      • Article, Illustration
        NEW YORK
        1556 15 STOCKS on Wall Street sank deeper in nervous trading on Thursday, weighed down by computer-driven sell programs and a sell-ofT in bonds triggered by jitters over the February employment figures to be released yesterday. The Dow Jones Industrial Average, which gave back 21.69 points on Wednesday, lost another
        1,556 words
      • Article
        Untitled
        310 15 Other markets in Europe, South Africa and Canada Johannesburg Mar 5 Rand INDUSTRIALS A Alpha 4100 unch AECI 960 unch AMIC 7525 25 Abercom 125 Amaprop 710 unch BAZ 1300 Barlows 5350 unch Basil Strk 20 Blyvoor 600 CG Smith ***** unch Cnagalo 2675 unch Curfin 700 unch Edgars 5000
        310 words
      • Article, Illustration
        LONDON
        921 15 NERVOUSNESS about the government budget next week and political uncertainty as an election looms dragged share prices lower on the London Stock Exchange on Thursday. The blue-chip Financial Times Stock Exchange 100-share index, which slipped seven points on Wednesday, fell 20.1 points to close at 2,538.3 points. The narrower
        921 words
      • Article
        AMSTERDAM
        123 15 DUTCH shares ended mixed on Thursday after consolidating recent gains in slow, technical trading with business focused on selective issues, dealers said. A lower London bourse led to a slight downward bias, but a strong dollar prevented shares from slipping. "Prices are holding exceptionally well. Every time the market
        123 words
      • Article
        PARIS
        240 15 THE Paris bourse lost ground on Thursday, as the CAC-40 Index opened with a drop of 0.49 per cent and fin- ished at 1.973.04 points, down by 0.76 per cent by comparison with the Wednesday close. Operators said the market had been depressed primarily by "attacks" on Elf-Aquitaine in
        240 words
      • Article
        MILAN
        159 15 ITALIAN stocks tumbled for the seventh consecutive session on Thursday as investors continued to sell heavily blue chips, brokers said. The MIB Index dropped 1.06 per cent to close at 1,025. Volume remained thin. "The large bank-controlled SIMS are selling and it is difficult to absorb it," one operator
        159 words
      • Article
        ZURICH
        299 15 SWISS shares closed a moderately active session lower on Thursday. Dealers said money market rates heading up towards 8 per cent had slowed the recent uptrend although the stock market believed the rise would be short-lived and remained fundamentally positive. The interest rate worries led to profit taking in
        299 words
      • Article
        TORONTO
        267 15 TORONTO stocks slid in a day of nervous trading on Thursday, pummelled by prime rate increases and rumours of financial trouble for real estate giant Olympia York, dealers said. All the chartered banks and real estate stocks fell. "If the market were to go down by 40 points, 30
        267 words
      • Article
        FRANKFURT
        220 15 THE Frankfurt stock market made a moderate advance on Thursday, as the DAX spot trend index rose by 5.75 points to a high for the year to date of 1,764.80 points. The Commerzbank indicator was off bv 1.60 points to 2,024.10. Daimler rose by seven marks on the day,
        220 words
      • Article
        BRUSSELS
        226 15 BELGIAN shares closed lower but off the day's lows in moderate trading on Thursday as profit-taking, which started on Wednesday afternoon, continued, traders said. The Bel-20 Index of leading shares closed down 10.68 points to 1,222.57 with just over 700 million francs worth of Belgian shares traded, the lowest
        226 words
      • Article
        Untitled
        79 15 INDICES TURNOVER NEW YORK (lose PrrtiMH Mar 5 Dow Jones SAP 500 Turnover (million) 3,241.50 3.268.56 406 51 409.33 208.94 208 91 -27 06 -2.82 +003 LONDON Financial Times 30 FTSE 100 Turnover (million) 1.970.6 2.538.3 600 1.988.5 2.558.4 5054 -17.9 -20.1 94.6 FRANKFURT DAX Index 1.764 80 1,759 05
        79 words
  • Page 15 Advertisements
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Greenback steady in late Asian trade ahead of jobs data
      1184 16 REPORTS ASIA TOKYO: The US dollar was steady in late Asian trading yesterday as dealers settled for position adjustments ahead of US jobless data due for release at 1330 GMT. "We've tested the downside and it (the dollar) is waiting
      1,184 words
    • Article
      INTERBANK FOREX RATES
      381 16 Cross rates Mar6 USS SS MS Dm Yen SFr A$ NZS USS 1.6540 2.5670 1.6710 131.85 0.5821 1.5240 1.3245 1.8248 SS 0.6046 1.5520 1.0103 79.7158 0.3519 0.9214 0.8008 1.1033 MS 0.3896 0.64 0.6510 51.3635 0.2268 0.5937 0.5160 0.7109 Dm 0.5984 ***** 1.5362 78.90 0.3483 0.9120 0.7926 1.0921
      381 words
    • Article
      MONEY MARKET
      531 16 Interbank rates SS Bid Offer Overnight 3 1/8 3 1/4 1-month 3 3/8 3 1/2 2-month 3 7/16 3 9/16 3-month 3 7/16 3 9/16 Overnight mode: 3-1/4 LSS Bid Offer 7 days 4 1/8 4 1/4 1 month 4 5/16 4 7/16 2 months 4 5/16 4
      531 words
    • Article
      Lock icon Swiss franc tumbles to lowest level in two years
      346 16 Reuter ZURICH The Swiss franc has tumbled to its lowest level in two years despite protestations and efforts by the Swiss National Bank (SNB) to bolster the currency. But economists say the SNB. as the guardian of the currency, has managed
      Reuter  -  346 words
    • Article
      Lock icon Support convertible Russian rouble: EC report
      231 16 Reuter BRUSSELS Russia deserves international financial support for its plans to make the rouble convertible. The question is how this should be given. European financial sources said this is a key conclusion of a draft report the European Commission's economic directorate has prepared on
      Reuter  -  231 words
    • Article
      FINANCIAL FUTURES
      1186 16 SIMEX EUROOOLLAR Open High Low Sett Est Vol Op/lnt Vol Mar 92 95.63 95 64 95.60 95.62 3127 3291 ***** Jun 92 95.27 95.30 95.27 95.29 ***** 7590 ***** Sep 92 94.89 94.91 94.87 94.89 7000 4729 9645 Dec 92 94.19 94.22 94.19 94.20 3315 2412 6814 Mar
      1,186 words
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  • COMMODITIES
    • Article
      Budget proposal sparks gold price plunge in India
      473 17  -  From Shirish Nadkarni in BOMBAY INDIAN Finance Minister Manmohan Singh's budget proposal to allow non-resi-dent Indians to import up to five kilograms of gold with minimal duty has sparked a huge fall in the local price of the metal. Gold, which was
      473 words
    • Article
      Lock icon M'sia proposes one-seller plan for rubber to get better prices
      209 17 AFP KUALA LUMPUR Malaysia on Thursday proposed that major producers of natural rubber coordinate sales through Singapore and act as one seller. Primary Industries Minister Lim Keng Yaik said after talks with Thai Commerce Minister Amaret Sila-on that producers should
      AFP  -  209 words
    • Article
      KL tin closes unchanged on short covering
      854 17 REPORTS TIN yesterday ended unchanged at M 514.10 a kg, supported by light short-cov-ering, traders said. Steadiness on the LME overnight and reduced miners' offering aided sentiment. They noted initial bids of 47 tonnes against offers of 43. Prices matched at the opening
      854 words
  • Article
    PRICES
    1334 17 Rubber Mar 6 US (to hi Mm) Scents/kg Noon Close Int 1 RSS Prompt 133.75/134.75N 134.25/135.25N Int 1 RSS Apr 92 133.75/134.25 134.25/134.75 lnt 1 RSS May 134.50/135.00 135.00/135.50 Int 2 RSS OP 132.00/133 00N 132.50/133 50N Int 3 RSS OP 131.50/132.50N 132.00/133.00N Int 4 RSS OP 129 50/130
    1,334 words
  • Page 17 Advertisements
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  • Article
    Lock icon US House passes US$1.5 trillion budget
    361 18 Defence cuts of US$ 15b to be used for domestic programmes Reuter WASHINGTON The United States House of Representatives passed a US$l.5 trillion (552.48 trillion) budget on Thursday that proposes slashing defence spending by US$l5 billion and channelling the money back home. The House
    Reuter  -  361 words
  • Article
    Lock icon Michelangelo virus spread by Taiwanese firm: Dutch police
    321 18 Agencies AMSTERDAM The Michelangelo computer virus was unwittingly spread around the world by a single Taiwanese software copying house, Dutch police said yesterday. "Software copy houses legitimately copy software for customers, and this one probably mass-produced it when a customer gave it
    Agencies  -  321 words
  • Article
    Lock icon US airlines cut fares to Europe
    122 18 Reuter CHICAGO Major US airlines have embarked on a new round of international fare cuts, slashing prices to Europe by as much as 40 per cent. Trans World Airlines and Delta cut prices after American Airlines announced fare reductions of up to 33 per
    Reuter  -  122 words
  • Article
    Lock icon Business confidence in Japan at four-year low
    252 18 Reuter TOKYO Corporate Japan is more depressed now than it has been in more than four years, a survey revealed yesterday. Economists, however, do not expect it will force the Bank of Japan (BOJ) into a hasty cut in the discount rate. The
    Reuter  -  252 words
  • Article
    HDB residents must give clear signal on flat upgrading: Goh
    420 18  -  By Colin Tan SINGAPORE HDB residents who are in favour of upgrading their flats must give their "yes" vote clearly and not passively, said Prime Minister Goh Chok Tong last night. Speaking at the launch of the demonstration phase of
    420 words
  • Article
    Official book on Vietnam's investment laws to be launched
    265 18  -  From Harish Mehta in HO CHI MINH CITY AN AUSTRALIAN law firm has teamed up with the Vietnamese investment authorities to launch Vietnam's first comprehensive foreign investment laws in a 906-page volume which claims to be the bible of foreign investors.
    265 words
  • Page 18 Advertisements
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  • Executive Lifestyle
    • Article, Illustration
      Lock icon Survival of the fittest
      1329 19  -  Fitness centres are pulling out the stops to thrive in a tough market, reports Nirmal Ghosh Nirmal Ghosh Running a health'club these days isn't as easy as throwing a couple of exercise bicycles into a room or putting hairdryers in the changing area. Indeed, the aerobics
      Photos by Arthur Lee  -  1,329 words
    • STRAWS IN THE WIND
      • Article
        Watch those balls
        82 19 IF YOU play golf in Sri Lanka, look after your balls, warns a golfer who has just returned from there. Caddies are so poor that one of their money-making ways is to sell your own balls back to you. For example, after putting, take out your ball,
        82 words
      • Article
        Sorry, wrong primate
        146 19 CALL an ape and ape, won't you. This is probably what Canadian Archbishop George Cram felt when he received a questionnaire from the University of Wisconsin's Regional Primate Research Centre. Archbishop Cram, primate of the Anglican Church of Canada, received a letter from the centre addressed to:
        146 words
    • OPINIONS
      • Article
        Cash-for-places policy should not be adopted
        1006 20  -  Schutz Lee argues against institutionalising a practice that will put into question the basic philosophy behind our education policy Schutz Lee The writer is a BT journalist MY SISTERs indignant cries of protest on the morning of Feb 25 finally pricked my conscience on
        1,006 words
      • Article, Illustration
        How about some service?
        1293 20  -  Why is it so hard to find someone to sell you something when you seriously want to buy it, asks Monica Gwee Monica Gwee I HAVE HEARD that things are a bit dicey in the retail sector due to recession in many countries. If this is
        1,293 words
      • Article
        It's now time to lift foreign restrictions on SIA shares
        496 20  -  Goh Ju Lee I REFER to the recent Stock Exchange of Singapore's (SES) exhortation to listed companies to continually review the need for restrictions on their foreign shareholdings and to raise or remove the restrictions when circumstances permitted. I hope
        496 words
      • Article
        No, minister!
        950 20  -  There's a growing gulf between government and industry views on the economy, says Anna Teo Anna Teo The writer is a BT journalist PEOPLE who have met or heard businessman Chia Shi Teck know him to be one of the keenest advocates for private industry, an out-and-out proponent
        950 words
    • SPORTS
      • Article, Illustration
        Lock icon Fresh evidence in Krabbe case
        481 21 German athletics federation to probe new findings on dope test Reuter BONN Germany's athletics federation (DLV) said on Thursday that it planned to probe alleged new evidence from the dope test that led to the ban on double world sprint champion Katrin Krabbe and two
        Reuter  -  481 words
      • Article
        Lock icon America3 wins after stablemate Defiant pulls out
        284 21 AP SAN DIEGO Amcrica3 scored an easy victory over its America 3 Foundation stablemate Defiant after Defiant withdrew from Thursday's Round 3 race in the America's Cup Defender Selection Series. Defiant, skippered for the first time by Dave Dellenbaugh of Easton, Connecticut, withdrew
        AP  -  284 words
      • SIDE LINES
        • Article
          Finnish world champion takes the lead
          119 21 PONTE DE LIMA. Portugal Reigning world champion Juha Kankkunen mastered both gravel and asphalt surfaces on Thursday to take the lead on the third day of the 40-stage Portuguese Port Wine Rally. The Finn, in his Lancia Delta Integrate, dominated the final stages of
          119 words
        • Article
          Wattana finally overcomes Bond
          68 21 BRISTOL. England James Wattana's 9-5 victory over Nigel Bond in the semi-final of the Strachan Professional Snooker Championship here on Thursday was his first in three meetings against the Derbyshire player. The win also sets up the chance for the 22-year-old Thai to appear in his
          68 words
        • Article
          Courier, Sampras upset
          103 21 INDIAN WELLS, California World number-one Jim Courier and second-seeded Pete Sampras suffered upsets in the third round of the Champions Cup tennis tournament here on Thursday. Unseeded Russian Andrei Chesnokov surprised Courier 6-4, 7-5 to reach the quarter-finals, while 16th-seeded Jakob Hlasek of Switzerland ousted Sampras 6-4,
          103 words
        • Article
          Britons gloat over victory
          139 21 LONDON England star cricketer lan Botham was lionized for his part in defeating the Australian team yesterday and he was quoted as saying: "I hope the Queen was watching." England's victory over Australia in the World Cup in which Botham starred was sweet to a nation
          139 words
        • Article
          Biondi-Jager rivalry continues
          124 21 INDIANAPOLIS Matt Biondi won the sprinters' showdown with Tom Jager at the United States Olympic swimming trials on Thursday night, and they set a date for the next race in their eight-year rivalry: July 31 in Barcelona. That's when they'll meet again in the 50-metre freestyle with
          124 words
      • Article, Illustration
        Lock icon India confident of adjusting to NZ pitches
        292 21 Cricket World Cup AP HAMILTON, New Zealand India will have no difficulty adjusting to slower New Zealand pitches when it faces Zimbabwe in a crucial World Cup match today, captain Mohammad Azharuddin said. India has only three points from its opening four World
        AP  -  292 words
      • Article
        Lock icon Kirsten making up for lost time
        346 21 AP CHRISTCHURCH, New Zealand Cricketer Peter Kirsten spent nearly two decades waiting for South Africa's international sporting isolation to end. Now the ace batsman is making up for lost time and has been one of the most explosive performers in the nine-nation World Cup
        AP  -  346 words
      • Article
        Lock icon The classiest Olympic show yet to be
        847 21 Barcelona putting finishing touches to preparations for Summer Games Reuter BARCELONA, Spain Albertville was good, but Barcelona is determined to be better. As the spotlight moves from the Winter Games in the French Alps to this northern Spanish city where the Olympic flame
        Reuter  -  847 words
    • EPICURE
      • Article, Illustration
        Waffle and Walkman
        672 22  -  and croissant and cream cakes. Quek Swee Peng samples pastries at Cafe Etoile Quek Swee Peng TEA. The contemporary room bears hardly any resemblance to writer Henry James's momentous setting in The Portrait of A Lxidy. To begin with, it wasn't a "splendid summer afternoon"; and there
        672 words
    • LIFESTYLE
      • Article, Illustration
        When ignorance is no bliss
        1003 23  -  German wine labels actually carry important bits of information WINE By N K Yong ONE OF the most common reasons why more people do not buy German wines is that they don't know how to read the label on the bottle. Part of the problem
        1,003 words
      • Article, Illustration
        Zia and Rosenberg share top prize in US tournament
        328 23  -  BRIDGE By Sybil Holloway A SLIP in play by Dorothy Truscott enabled Zia and Rosenberg to overtake Bob Hamman to tie for the top prize money of the First Professional Bridge Tournament in the United States organised by Bridge Today magazine.
        328 words
      • Article
        Romance returns to the Jubilee
        425 23  -  Nirmal Ghosh reviews a slightly patchy Prelude to a Kiss Nirmal Ghosh Action theatres production of Craig Lucas' 1990 Broadway hit. Prelude to a Kiss, opened to an appreciative audience at the restored Jubilee Theatre in Raffles Hotel on Thursday night. Director Ekachai Uekrangthom had
        425 words
      • Article, Illustration
        Manager, manage thyself
        573 23  -  Dr Michael B McGannon starts a weekly column designed to help keep you in top form Dr Michael B McGannon The writer is a Stanford University-trained doctor who is the medical director of INSEAD Business-Health Course, which is also ojfered here. He welcomes any queries from readers.
        573 words
    • PURSUITS
      • Article, Illustration
        A mostly Midler affair
        644 24  -  Bette Midler aficionados are going to enjoy this movie, which has been tailor-made for her. But what the heck is it trying to say? Jaime Ee puzzles over For The Boys Jaime Ee WHEN you're Bette Midler, you can't be anyone else. That's why For The
        644 words
      • Article, Illustration
        Parting company
        574 24  -  Jaime Ee, who watched Body Parts, cautions that in the event of an accident, it may be safer to opt for a prosthetic rather than a live limb Jaime Ee WHAT did one arm say to the other as it was being amputated? "Listen, when I said I
        574 words
      • Article, Illustration
        Quitters' dreams are made of these...
        615 24  -  Customers at the opening of Quilts and Sew Forth's latest branch were buying like there would be no cloth tomorrow. Susan Tsang joined in the seizing frenzy Susan Tsang WE ALL know quilters make good comforters. These rare people can now take comfort in
        615 words
      • Article, Illustration
        Hooked on the New News
        853 24  -  Ever wondered where your kids are getting the news from if they don't watch it on TV or read it in the papers? S N Vasuki investigates S N Vasuki IT'S 9.30pm. The news is over. The TV set in your children's bedroom is blaring
        853 words
    • PERSONAL FINANCE & INVESTMENT 1
      • Article
        What a new treatment for bonds implies
        749 26  -  Chew Eng Han on the questions that a possible new accounting method for bond issues would throw up Chew Eng Han Financial analysts here are still grappling with the implications, for companies, of a possible new accounting treatment for bond cum warrant issues.
        749 words
      • Article, Illustration
        Seel striking out on its own
        809 26  -  STOCK The Singapore Technologies unit is set to improve performance with a new structure and new products. Carolyn Lim reports Carolyn Lim AT ITS listing last August, analysts and investors saw it as yet another company in the Singapore Technologies Group (STG) there are
        809 words
      • Article, Illustration
        Market lacks confidence
        613 26  -  JjHART By Goh Hiang Fong The writer is head of research at Lum Chang Securities Pte Ltd THE WEEK saw the Singapore stock market finding strong support at the 1,450-level of the Straits Times Industrials Index (STII). Investors will remember this as the crucial level around which
        613 words
      • Article, Illustration
        Investing in Asia? Don't forget history
        826 26 Consultant Robert Lloyd George gives sound advice and analysis on investment in a new book The East-West Pendulum. By Robert Lloyd George. Wood head-Faulk ner (Simon and Schuster International Group). 142 pages. $37.95 Reviewed by Chuang Peck Ming PAY ATTENTION to history when looking
        826 words
      • Article, Illustration
        Lock icon Are gemstones a brilliant investment?
        1069 27  -  If it's short-term gain you're looking for you mighjl as well forget about gems, as Dawn Tan discovers Dawn Tan Diamonds and precious stones may be a girl's best friend, but are they also a worthwhile investment? "The Chinese have traditionally loved jewellery," says Isaac
        Source: Diamnod Exchange of Singapore; Imperfecteye-visible inclusions  -  1,069 words
      • Article, Illustration
        Prices of golf club memberships likely to drift
        326 27  -  Kooi Cho Teng updates the BT Golf Index Kooi Cho Teng PRICES of golf-club memberships look set to drift around current levels with no positive factors in sight to lift the market. A check with the Classified Ads in The Straits Times
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    • JOBS
      • Article, Illustration
        Lock icon Working way too hard
        1568 28  -  Are people in Japan overworked? Increasingly, the Japanese themselves are willing to admit that they are, reports Steven R Weisman. Japan's world of high finance, meanwhile, is losing popularity among new graduates who are looking elsewhere for a career Steven R Weisman NYT IN self-satisfied tones,
        NYT  -  1,568 words
      • Article, Illustration
        EXECUTIVE MOVES
        382 28 Mr Dennis Sim has been appointed Business Development Director of Prontaprint Singapore Pte Ltd. Mr Sim will be responsible for spearheading Prontaprint's regional growth through the appointment of new subfranchisees in Singapore, Indonesia and Malaysia. He holds a BA (Honours) and an MBA from the University of Warwick
        382 words
      • Article, Illustration
        Lock icon Brokerages and banks losing their allure
        389 28 Reuter THE WORLD of high finance is losing its allure for Japan's university graduates and they are looking elsewhere for a career, a private survey has found. Major banks were once among the most sought-after employers but the annual survey of third-year college students
        Reuter  -  389 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1182 29 CKy Fttffct ETA FHgM ETD CH> Fli c ht ETA FHgM ETP Aka DkaM GA971 0950 SQI05 1050 MH670 0950 f 2010 7 §SS? i!S ISiol lu! i= SjS 5H5 !ig wf?o !2il KL837 1340 KL838 2325 BR217 1610 VIH608 1540 SQ 38 2330 MH609 1625
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    • THE TRAVEL PAGE
      • Article, Illustration
        A city that lives in the past
        668 29  -  POSTCARD FROM ALEXANDRIA By Christopher Pick "For the majority of people. Alexandria was a dull hole with only good bathing and many French restaurants to recommend it. There is nothing to see. 1 they repeated endlessly, and this. too. was true." Lawrence Durrell
        668 words
      • Article
        MONEY CHANGER RATES
        149 29 As at 3pm yesterday: Local dollars to one unit of foreign currencyCurrencies Bid Offer Australian dollar 1.2435 1.2603 Canadian dollar 1.3787 1.4065 NZ dollar 0.8960 0.9320 Sterling pound 2.8299 2.8683 US dollar 1.6500 1.6580 Local dollar* to 100 units of foreign currency Austrian schilling 13.92 14.20 Belgian
        149 words
      • Article
        WORLD TRADE EXHIBITIONS
        67 29 Duration Title Venue Organiser Tel Duration Title Venue Organiser Td Mar 28- International Ban. Italy Fiera Del (39)80/*****2 April 9-15 British NEC, Centre 021-*****18 April 5 Fair for Leisure. Levante International Birmingham Exhibitions, (fa*) Sports Tourism Antiques Fair Birmingham April 7-12 International Helsinki. The Finnish Fair *****5091
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    • TIME OFF
      • Article
        THEATRE
        264 30 SSO Concert Conductor Choo Hoey. Soloist: Gillian Weir (organ). Programme includes Smetana's Overture: The Bartered Bride, Rheinberger's Organ Concerto No 2 in G minor and Scriabin's Symphony No 2. Venue: Victoria Concert Hall. Tonight. 8.15pm. SSO Choral Concert Conductor: Lim Yau. Beethoven's Symphony No 6 (Pastoral) is followed by
        264 words
      • Article, Illustration
        EXHIBITIONS
        299 30 Exhibition by Koh Sia Yong Over 60 paintings by Koh Sia Yong will be on display. A graduate from the Nanyang Academy of Fine Arts, Mr Koh's paintings vary from city and landscapes to portraits, nudes and still life. Venue: Empress Place. Mar 4-8. Mon-Sun: 9am-Bpm. Delia Butcher Gallery.
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    • Article, Illustration
      CINEMA
      553 30 Atame! About a lunatic who kidnaps a porn star and tries to make her fall in love with him. R(A). Republic 2: 1.30. 3.30, 7, 9. Body Parts. A criminal psychologist has an accident and emerges with a newly-grafted arm. But perhaps more than just a limb has been
      553 words
  • Page 19 Advertisements
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      73 19 a a 0 24-hour Loan Information Service Approval r 3 3 4 3 5 8 8 3 3 4 3 6 8 8 YOU HAVE A DREAM? These men have $850 million to make it come true k_ helped some 100 Singapore companies realise their potential. However, there are signs
      73 words
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      25 20 BT welcomes letters from you. Please address them to: The Editor, Business Tunes, 390 Kim Seng Rd, S'pore 0923. Letters should include your contact numbers.
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  • Page 20 Miscellaneous
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      Page 20 Miscellaneous Column 1
      80 20 DOONESBURY BY GARRY TRUDEAU M.BAet! HOtfPTf€H&nNG I ALSO LtARNEP SOHETHNS MY! tUHAT MTH HXANtM! ClJ&fT6o* VfXY VAUJABie 7CCHY, J.J. I WOiSAJISFACPONAVPBH7Y I OJCfUf m- I LSABNePI PCNTNeePA I HAMXKTUXMCM9MN! I fijt£ CAKfMU 6RBAT I MILLION POUAR NATIONAL. AC• I fTQOB&TTIMA77BK.MMTtOJ I SUUH6 9 SCMCNO? mescoKTSBMCB* mr cH.GzroFrrr.JJ! /mz.tuHAi rmMiv VOUXCPO/NGAPS
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      128 21 CONGRATULATIONS TO THE PA CHINESE ORCHESTRA ON THE RELEASE OF THEIR DEBUT ALBUM THE SILK ROAD 1 ON THE YELLOW RIVER LABEL Th*S»fcßo*d SB jBSIB Now available in your favourite record stores the Yellow River collection of Chinese classical music! Yellow River the label that brings you a rare glimpse
      128 words
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      613 22 Nothing Beats A Bud. IMB OF I^——^ Go [or Gift Certificates Gift certificates from King's Hotel are in handy SSOand $100 denominations. Ideal for all occasions, they can be used for rooms and at all F&B outlets. Corporate purchases of $500 or more entitles you to a 15% discount in
      613 words
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      Page 22 Advertisements Column 2
      216 22 WHERE TO WINE, DINE NOT TOUR USUAL FOOD BUFFET AT CAFE PLAZA Portuguese/Macanese cuisine at its very best. Macau Buffet. 1 to 15 March. Savour authentic Macanese cooking prepared by our specially flown-in chefs. Plus win a holiday to Macau via Hong Kong and many other prizes! Adult: $18++ (lunch)
      216 words
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      Page 22 Advertisements Column 3
      283 22 I For only $36++, the most \J —yJT scrumptious spread awaits those 7 j/ I who enter Top of the M. Be I "I I amongst the privileged. I*" I fA It cmrtr Cimtmrnfl imitrr nifkth, I J frvmt iOfmioWJOfmiltalardr') 1 > 19th floor serve the world to you at
      283 words
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      Page 23 Advertisements Column 1
      72 23 1 "Sunday Jazz Brunch at the New Orleans will blow your mind, Daddy-O." :|O- > *jm P\^| LE RENDEZVOUS BAR PISCES Cocktail of the Month A refreshing cocktail of 1 cquila. Blue Curacao, blended with Orange and juices, topped with Sprite. Happy Hours: spm Hpm daily. sponsor: (laldhccks MERIDIEN StNGAK
      72 words
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      Page 23 Advertisements Column 2
      13 23 The Straits Times Classified Where buyers sellers nd a USCCI C.A.T.S. J 737-*****
      13 words
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      Page 25 Advertisements Column 1
      124 25 7 f O•/ Vrv Take a look out to sea (1/ BS«F _^fljr today and you could be among the first to spot a proud sailing vessel arriving after an epic voyage half way round the world. ship is called "Spirit celebrates 120 years in Asia. route to Shanghai to
      124 words
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      Page 27 Advertisements Column 1
      154 27 GROWTH TRIANGLE A special Business Times Survey April 18,1992 It has been two years since the concept of a growth triangle linking Singapore, Johor and Batam was mooted. How far has development grown under the Growth Triangle? Will changing global economic and geopolitical trends affect the success of the triangle?
      154 words
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      Page 27 Advertisements Column 2
      187 27 Hexpres^HARELSJN^ Turn yourshareX, m t° c(^o^t instantly at Get cash on the spot for your shares for 1,2 or 3 months at 1% per month. Scripless counters are also acceptable. Rat (discounted) For more information, call our toll-free numbers. Hong Leong Finance 223 0936 Singapore Finance 226 3398 ONLY FROM:
      187 words
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      Page 29 Advertisements Column 1
      42 29 Discover the lengths Finnair go for just one price. I A superb twice-weekly service from Singapore direct to Helsinki and daily connections to over 35 European destinations- all for one price. Call *****77 for details. We know Europe from atari to Finnish.
      42 words
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      Page 29 Advertisements Column 2
      25 29 Difficulty in getting a copy of Her World, Go, Singapore Business, Home Decor, Young Parents? Call our Hotline 749 2577 for locations of nearest newsstands.
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      Page 29 Advertisements Column 3
      88 29 r w^ If *vv -%-flp* And now this dropout earns $7,000 a month. Hers is a story of a school dropout whose mother made her a successful businesswoman. But is Anita Sam only one of the few school discards around who didn't feel so unaccomplished? What about others? :•>: •>:•:•:*£%
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  • Page 29 Miscellaneous
    • Miscellaneous
      Page 29 Miscellaneous Column 1
      303 29 1 Hot stew taken in by medical orderly (10) Hi" BB"~"~I j 9 Stick to one theme on IP^— I this instrument (4) PI: 10* Signify some wind high in ~■■""■I ~Hi" 12. Vehicles carrying a weight in containers (7) 12 I P3 j I 1 15* A crop is
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    • Miscellaneous
      Page 29 Miscellaneous Column 2
      167 29 Singapore Outlook: Showers over several areas in the afternoon. Report: Maximum temperature 29.9 Assoc humidity 74% Minimum temperature 25.1 Assoc humidity 93% Hours of sunshine 0.85 Rainfall in mm Trace Rainfall this month 13.5 Rainy days this month 2 World forecast Asia-Pacific Hi/Lo* Cond. Auckland 22/15 Sunny Bangkok 35/23 Cloudy
      167 words
    • Miscellaneous
      Page 29 Miscellaneous Column 3
      17 29 1,, -a&gas&r AI V '-N IS STRICTLY TO CO J I c associated newspapers LTD.. HH-WM 8626
      17 words
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  • Page 30 Miscellaneous
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      Page 30 Miscellaneous Column 1
      1871 30 TODAY'S TV HHVMPPPH|H 7.30 Beyond Tomorrow (See Our I- 1 (10 Al-lslam Wannazariat Al1.00 Young Catherine 6.40 Syiar Man. Tangan-Tangan Mungil, The Wolf: A Howling in Ameri- See Our Choice). [W %rIH 5'2 m?!L o^t* 3.35pm, SBCS ca's National Parks* 12.30pm, 100 *ec«rt«to.. -a Mo m 1 JJ ort tJ
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    • Miscellaneous
      Page 30 Miscellaneous Column 2
      626 30 Movies on TV Beam or The Hall of Dolls, three sequels. Traces the man Mon, 10.30pm, SBC 12 of steel as he makes his way After the death of Don Anto- rorn Krypton to Small ville nio Beam, his priest, Don to Metropolis, mixing sinceriJuan(!) looks back on his life
      626 words