The Business Times, 21 May 1994

Microfilm: NL19381
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    13 1 Business Times MITA(P) 010/12/93 Weekend Edition, May 21-22 1994 WE KNOW ASIA 75*
    13 words
  • Article
    S'pore Telecom earnings jump 19.5pc to $1.2b
    666 1  -  By Genevieve Cua SINGAPORE Singapore Telecom yesterday cheered shareholders with a robust 19.5 per cent growth in net earnings to $1.2 billion. This surpassed the group's projection in its listing prospectus last year of a 13 per cent earnings rise. It also exceeded
    666 words
  • Article
    Lock icon Emerging stock markets poised for rebound, say US analysts
    380 1 LAT NEW YORK— Many of the world's emerging stock markets are bouncing back, after losing 20 per cent or more of their value in recent months. Some Wall Streeters think it's time to buy. Markets from Chile to Thailand to Turkey
    LAT  -  380 words
  • Article
    Vincent Tan makes foray into telecom industry
    228 1  -  From Ho Kay Tat in KUALA LUMPUR MALAYSIAN tycoon Vincent Tan Chee Yioun has joined the rush into Asia-Pacific's potentially lucrative telecommunications industry. His Berjaya Group is taking a 20 per cent stake in a small US satellite equipment manufacturer called Satellite Technology
    228 words
  • 2am LATEST
    • Article
      Lock icon Dow down 8 points on profit-taking
      85 1 Reuter NEW YORK Blue-chip stocks moved lower yesterday, turning the tables on a threeday interest rate-related rally, as profit-taking became the name of the game amid a lack of other economic news. At Ipm EDT, declining stocks held a five-to-four lead over advances. "A
      Reuter  -  85 words
  • Article
    Lock icon US dollar dives amid signs German rates will stay high
    236 1 Bloomberg Business News NEW YORK The dollar tumbled against major currencies yesterday morning amid signs that German interest rates will remain higher than US rates for months to come. Many traders sold dollars after unidentified Bundesbank officials were quoted in
    Bloomberg Business News  -  236 words
  • Article
    Richest Aussie made A$2.5b
    258 1  -  From Brian Gomez in SYDNEY AUSTRALIA'S richest man. Kerry Packer, last year saw his personal wealth rise to A 55.5 billion (556.2 billion) from As 3 billion the previous year, while the wealth of the nation's 200 richest people rose by A 57.2 billion to A
    258 words
  • Article, Illustration
    Lock icon Anwar confirms use of strong ringgit to fight inflation
    510 1  -  By Amy Balan SINGAPORE Malaysian Deputy Prime Minister Anwar Ibrahim yesterday eonfirmed that Bank Negara is now using a strong ringgit to eombat inflation, reversing an earlier strategy that had relied heavily on high interest rates. The value and strength of
    Source: TeleTrac  -  510 words
  • Article
    MARKET SUMMARY
    165 1 Stock market indices Friday Change STII 2.337.01 +7.41 KLSEComp 1.001.16 -1.82 Nikkei 20.342.17 +120.83 Hang Seng 9,631.63 +276.65 SET Index 1,338.19 +3.77 Jakarta Comp 487 99 +5.25 CLSA China B 1.007.08 17.51 Aust All Ord 2.103.9 +10.2 FTSE 100 3,127.20 +4 40 Friday Previous 2pm close Dow Jones
    165 words
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  • SINGAPORE NEWS
    • Article
      Poor response at another auction, all 5 residential properties unsold
      371 2  -  By Abdul Hadhi THE latest property auction, this time by Colliers Jardine, appears to confirm weakening sentiment in the residential market. None of the five residential properties put up for auction yesterday were sold. Of the five, two were apartments
      371 words
    • Article
      Demand for CBD office space picking up
      524 2  -  Four floors of The Octagon change hands twice in a week By A J Leow DEMAND for office space in the Central Business District is hardening rapidly, judging by the sale of four floors of The Octagon twice in one week. The space
      524 words
    • Article, Illustration
      Lock icon I've Been Moved
      233 2  -  Report by Joseph Rajendran THAT was the feeling of about 70 former employees of IBM who met informally at the Pan Pacific Hotel last night. The meeting, organised by volunteers, involved people who had worked for Big Blue for as long as 45 years and as little
      Photo by Chris Loh  -  233 words
    • NEWS ROUNDUP
      • Article
        New control measures on trade fairs
        121 2 THE Government will limit the frequency and duration of trade fairs held in the open from July. For large fairs, only one can be held per constituency per year, lasting not more than 16 days. For mini-fairs organised by grassroots organisations, one fair per
        121 words
      • Article
        S'pore edition of Asian Law Journal
        87 2 THE Asian Law Journal will launch a Singapore edition, to be delivered to every lawyer on the island from June. The magazine has the largest circulation of any legal publication of its kind in Asia and is the official journal of Law Asia and
        87 words
      • Article
        Mah to lead civil servants to NY
        72 2 THE Minister for Communications and for the Environment. Mah Bow Tan. will lead a five-member delegation of senior civil servants to the high-level segment of the Second Substantive Session of the Commission on Sustainable Development, in New York from May 25 to 27.
        72 words
      • Article
        Chemical firm invests in regional lab
        68 2 NALCO Pacific Pte. the Singapore-based subsidiary of Nalco Chemical Co of the US, has invested an additional $2 million in its applications laboratory here to provide better service to regional customers. The Nalco Pacific Technical Centre in Tuas the first of its kind outside
        68 words
    • Article
      AMS Precision raises stake to 3pc of Pratt and Whitney engine plan
      406 2  -  By Dexter Lee AMS Precision Engineering, a subsidiary of Singapore Technologies Ventures, has raised its interest in an aircraft engine risk-sharing programme by I per cent to 3 per cent. The multi-million dollar move to gain a bigger
      406 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
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      281 words
    • Advertisement
      Page 2 Advertisements Column 2
      49 2 You may have been unable to get your Business Times, Straits Times, Sunday Times, LianHe Zaobao and other daily newspapers from your usual newsstand because of the higher demand lately. To ensure a daily copy, call Customer Services Section on 1800-749-2577, and ask for home or office delivery service.
      49 words
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      Page 2 Advertisements Column 3
      40 2 wMhL a n cl Acoustic >A. Alcheni W JH| Hi B\ dt OUT NOW ON Mn V 'rtjj CASSETTE COMPACT CHSC BMG PTE LTD Alexandra DistriparV Blk 2 #11-01/04 Pasir Panjang Road Singapore 0511 Tel 278 8388 Fax 273 6855
      40 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      461 2 WEATHER Singapore: Showers over several areas in the late morning and early afternoon. (Temperature range: 25-32). WW Cm* Can* Hi/tV Cond Buenos Am 18/11 Oe® Auckland 16 06 Cloudy Amsterdam 23,11 Cloudy Cnea«o 25«6 Oe» 33 25 Clear Ainens 28 12 Sunny HorofcA, 27 22 Oe» W -1 Clear Bervr
      461 words
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  • THE REGION
    • Article, Illustration
      China plans statutory board to run Suzhou township, screen investment
      418 3  -  By Schutz Lee SINGAPORE The Suzhou Industrial Township being developed with Singapore money and expertise will come under a statutory board to be set up soon in the Chinese city. The Suzhou Industrial Township Authority (Sita) will be in charge
      418 words
    • Article
      Lock icon Japan's coalition erodes further as 4 members defect
      284 3 AFP TOKYO Japan's ruling coalition, which has lost a majority in parliament due to the Socialist pull-out, eroded further yesterday as four members of former prime minister Morihiro Hosokawa's party crossed the floor. Japan's parliament, meanwhile, approved a second stopgap Budget of
      AFP  -  284 words
    • Article
      Vietnam will need US$50b over next 6 years: minister
      301 3  -  By Vikram Khanna SINGAPORE From now until the year 2000, Vietnam will need about US$5O billion (5576.9 billion) in investment funds, according to Do Quoc Sam, minister and chairman of Vietnam's State Planning Committee. Mr Sam was addressing an international business
      301 words
    • ASIA NOTES
      • Article
        Lock icon HK airport talks end without accord
        73 3 Reuter HONGKONG Sino-British talks on funding Hongkong's new airport have ended without an agreement, Chinese team leader Guo Fengmin said yesterday. He said progress had been made on some issues and talks would continue but he did not say when. British chief negotiator Hugh
        Reuter  -  73 words
      • Article
        Lock icon Thatcher refuses to testify
        86 3 AFP LONDON Former British Prime Minister Margaret Thatcher has refused to testify to a parliamentary committee over the Pergau Dam arms-for-aid scandal. In a letter published on Thursday. Mrs Thatcher said: "I do not feci able to break the convention, established since 1945, that prime ministers
        AFP  -  86 words
      • Article
        Lock icon Indon students clash with police
        68 3 Reuter JAKARTA Hundred of Indonesian students in Bandung, west Java, clashed with riot police during protests on Thursday over the country's on-going bank scandal. "The students demonstrated to demand clean government. They also demanded that former ministers be put on trial," police said yesterday, adding
        Reuter  -  68 words
    • Article
      Lock icon China's inflation eases only slightly despite wide price controls
      326 3 AP BEIJING Despite the government's re-introduetion of price controls on a wide range of goods, inflation eased only slightly in April from the first quarter, official news reports said yesterday. Meanwhile, the State Statistics Bureau said that unsold products are piling
      AP  -  326 words
    • Article
      Lock icon Malaysia rallies public in war on inflation
      163 3 Reuter KUALA LUMPUR Malaysian leaders, concerned about escalating prices in a booming economy, are taking the battle against inflation to the people. A double-paged advertisement in The Sew Straits limes newspaper yesterday carried pledges by Malaysians to use their credit cards less, save
      Reuter  -  163 words
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      Page 3 Advertisements Column 1
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  • THE REGION/WORLD
    • Article
      Lock icon Clinton says China trade issue has far-reaching implications
      443 4 AP, Reuter WASHINGTON President Bill Clinton said on Thursday that the question of trade privileges for China is a "decision of great moment for this country" with implications beyond the commercial relations between the two countries. Mr Clinton told a joint news
      AP,; Reuter  -  443 words
    • Article
      Lock icon Puzzling rise in long-term rates worries top OECD officials
      253 4 AFP PARIS Policy makers from OECD countries, emerging from two days of talks here, said yesterday they were puzzled and worried by the recent rise in long-term interest rates and volatility in financial markets. Members of the OECD's key Economic Policy
      AFP  -  253 words
    • Article
      Lock icon US-Japan trade talks to continue today
      503 4 AP, AFP, Reuter WASHINGTON A senior US official said yesterday the United States and Japan held "good and cordial" trade consultations and would meet again today. "We have had a good and cordial conversation and we will be meeting again," Bowman Cutter, deputy economic
      AP,; AFP,; Reuter  -  503 words
    • Article
      Lock icon Japan, US main capital providers in 1993
      245 4 Reuter TOKYO Japan and the US were the two major capital providers in the global capital markets last year, a senior Bank of Japan official said yesterday. The official, in a briefing on a BOJ report on capital flows, said "the trends in
      Reuter  -  245 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1417 4 *mmm RJ187 0130 Amtortfaa SQ25 0630 KL844 0035 KL831 0935 KL838 2300 SQ324 2345 Aaddmi NZ21 1735 BA11 1505 SQ286 2040 NZ22 1825 GF148 0905 BSwiBtgOTM ***** 1105 SQ182 0915 SQ181 1410 B1422 1205 B1429 2030 BI430 2125 SQ69 1140 TG402 0830 TG403 1155 SQ62 0930
      1,417 words
    • Article, Illustration
      Lock icon US, India seek common ground to patch up strained ties
      398 4 AP WASHINGTON US President Bill Clinton and India's Prime Minister PW Narasimha Rao on Thursday emphasised common economic interests over human rights and nuclear differences in hopes of patching up strained relations between the world's two largest democracies. Mr Rao.
      AP; Reuter  -  398 words
    • Article
      HK banks to raise prime rate to 7.25pc on Monday
      380 4  -  From Lim Soon Neo in HONGKONG HONGKONG'S major banks will raise their prime lending rate by half a percentage point to 7.25 per cent from Monday. The increase, announced yesterday by the Hongkong and Shanghai Banking Corp. Hang Seng Bank
      380 words
    • Article
      Competition hots up as Sydney gets a fourth Chinese-language paper
      417 4  -  From Brian Gomez in SYDNEY THE toughest Chinese newspaper war is unlikely to be taking place in booming Shenzhen or Singapore much of the heat is being generated instead in the surrounds of Sydney's Chinatown. The latest challenge comes from
      417 words
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  • THE WORLD
    • Article
      Lock icon Bentsen cautions against over-reacting on derivatives
      477 5 Bloomberg Business News, Reuter WASHINGTON Treasury Secretary Lloyd Bentsen says financial regulators should be careful about interfering in derivatives markets in "too heavy-handed a way". The attention focused on derivatives by Congress and the General Accounting Office (GAO) can be constructive, Mr Bentsen told
      Bloomberg Business News,; Reuter  -  477 words
    • Article, Illustration
      Lock icon Jackie Onassis dies after four-month battle with cancer
      443 5 Reuter NEW YORK Jacqueline Kennedy Onassis, widow of former United States President John F Kennedy and an enduring symbol of elegance and strength, died on Thursday with her children at her side after a battle with cancer. She was 64, She was
      Reuter  -  443 words
    • Article
      Lock icon World Bank to give Russia US$200m loan for bank reform
      145 5 AFP WASHINGTON The World Bank announced on Thursday it will award a US$2OO million (Ss3lo million) loan to Russia to assist in reform of the country's banking industry. The World Bank said the loan is aimed at helping speed development
      AFP  -  145 words
    • Article
      Lock icon Fed's moves indicate respite on rate hikes, says Bentsen
      309 5 Bloomberg Business News WASHINGTON By raising two key interest rates this week, the Federal Reserve sent a clear indication that it is "ready for a respite" from short-term rate increases. United States Treasury Secretary Lloyd Bentsen said on Thursday. Mr Bentsen
      Bloomberg Business News  -  309 words
    • Article
      Lock icon Export boom staves off disaster for struggling German manufacturers
      460 5 NYT FRANKFURT For German industry, hope springs eternal from abroad. While demand for the kind of products that German manufacturers excel in remains lax at home, demand for German trains, telephone systems and power plants is booming in places like Qatar
      NYT  -  460 words
    • Article
      Lock icon US law-makers vote to seek more funds for Europe's defence
      320 5 AFP WASHINGTON The House of Representatives voted on Thursday to give an ultimatum to Western Lurope to pay a larger share of the United States" defence eosts on the eontinent or face further reduction in the number of US troops.
      AFP  -  320 words
    • WORLD WATCH
      • Article
        Lock icon Clinton's adviser to head OECD body
        87 5 AFP PARIS [.aura Tyson. President Bill Clinton's chief economic adviser, was elected on Thursday to chair the Organisation for Economic Cooperation and Development's Economic Policy Committee tor the next 12 months. The committee, composed of top-level national policy-makers, elected the Vice-Minister of Japan's Economic
        AFP  -  87 words
      • Article, Illustration
        Lock icon French minister arrives in Moscow
        33 5 Reuter MOSCOW French Foreign Minister Alain Juppe (left) being welcomed by Russian Defence Minister Pavel Grachev yesterday. Mr Juppe is in Russia on a three-day official visit. Reuter
        Reuter  -  33 words
      • Article
        Lock icon Solzhenitsyn to end exile
        62 5 AP NLW YORK Writer Alexander Solzhenitsyn will end 20 years in exile and return to Russia on May 27, his wife said yesterday. Natalia Solzhenitsyn said the family will fly to Vladivostok. Russia, from Anchorage. Alaska, and that Solzhenitsyn will "begin a trip across Russia in
        AP  -  62 words
    • Article
      Lock icon Widespread impropriety found at US brokerages
      342 5 NYT WASHINGTON Securities and Exchange Commission officials have Found an unexpectedly large number of cases of improper sales practices during a two-year investigation of nine big US brokerage firms. These cases have been referred to the agency's enforcement division for further investigation and possible
      NYT  -  342 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      297 5 From one of the great cities in the world, one of the greatest investments you could make. INVESTMENT OPPORTUNITY ——W——IHHI—IHWHIM This weekend, you will have the opportunity to invest in prime inner city apartment real estate in the city chosen for the 2000 Olympics, Australia's premier city; Sydney. Freehold Title
      297 words
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  • COMPANIES & MARKETS
    • Article
      S'pore Telecom's Manila investments set to hit US$1b
      399 6  -  By Genevieve Cua SINGAPORE Singapore Telecom's investments in the Philippines are set to hit US$l billion (SSI.S billion) in the next few years when the massive telephone line and mobile cellular projects there are completed, said Singapore Telecom International chairman Sung Sio
      399 words
    • Article
      Lock icon Renong subsidiary to develop Uzbekistan oil field
      163 6 Bernama KUALA LUMPUR Probadi Sdn Bhd, Renong Bhd's 100 per cent-owned subsidiary, has entered into a joint venture agreement with Uzneftegazdobycha, a wholly owned subsidiary of the national oil corporation of Uzbekistan, Uzbekneftegaz. Renong said yesterday the agreement marked Probadi's entry as an
      Bernama  -  163 words
    • Article
      Lock icon EMC's offer subscribed 83.8 times
      338 6 Bernama KUALA LUMPUR EMC Logistics Berhad (EMC)'s 2.276 million shares offered to the Malaysian public were subscribed 83.77 times, Malaysian Issuing House Sdn Bhd general manager Fauziah Ibrahim said yesterday. Speaking at the balloting for the bumiputra portion of EMC's shares here, she said a
      Bernama  -  338 words
    • Article, Illustration
      Mycom still attractive despite Sabah's moves to restrict gaming
      884 6  -  HOCK LOCK SIEW By William Chia KUALA LUMPUR The share price of diversified gaming company Mycom Bhd has taken a beating since the announcement last month of several measures by the Sabah authorities to restrict gaming in the state. On April
      884 words
    • Article, Illustration
      Ng Teng Fong continues to mop up YHS shares
      266 6  -  By Lee Han Shih SINGAPORE Property tycoon Ng Teng Fong is continuing to buy shares in listed soft drinks maker Yeo Hiap Seng Ltd (YHS), but he is not using Orchard Parade Holdings (OPH) anymore. OPH last night informed the Stock
      266 words
    • Article
      Lock icon Feud could be cause of YHS (M)'s scrapped deal on JB Securities
      364 6 MBT KUALA LUMPUR Yeo Hiap Seng (Malaysia) Bhd's decision on Wednesday not to proceed with its proposed acquisition of JB Securities Sdn Bhd could have its roots in the Yeo clan's feud over control of Yeo Hiap Seng
      MBT  -  364 words
    • EYE on your STOCKS
      • Article
        MARKET MOOD
        20 6 For next week 's expected market sentiment, see B/ Sentiment Index yn F.L 4 (Personal Finance Investment section)
        20 words
      • Article, Illustration
        HOT STOCK
        155 6  -  -By Paul Leo Powermatic Data achieved two significant technical feats yesterday. Its low of 92 cents was six cents higher than the previous day's high of 86 cents, resulting in a breakaway gap which is bullish. It also broke resistance at Si to end at $1.03. The strong
        155 words
    • COMPANIES
      • COMPANY BRIEFS
        • Article
          Lock icon New name for Jack Chia Enterprises
          94 8 Bernama KUALA LUMPUR Eastern Oriental Berhad will be the new name for Jaek Chia Enterprises (M) Berhad, the company said in a statement yesterday. The name, reflective of its flagship property, the E&O Hotel in Penang, is renowned not only in Malaysia, but also
          Bernama  -  94 words
        • Article
          UOB gets nod for rights issue
          58 8 SINGAPORE Shareholders of United Overseas Bank have approved a plan to issue 75.6 million new $1 rights shares, subject to stock exchange approval. One rights share will be issued for every 10 shares held. The price is expected to be $3.50 for each local
          58 words
        • Article
          Intraco sells Intraco Resources shares
          75 8 SINGAPORE Intraco has sold all 1.5 million ordinary $1 shares of Intraco Resources to China Resources (Holdings), effective from Dec 31 last year. The shares had negative net tangible asset backing of $1.30 apiece at Dec 31, so Intraco made no profit on the deal.
          75 words
        • Article
          Venture Mfg to issue loan stock
          66 8 SINGAPORE Venture Manufacturing has proposed to raise $27.20 million through a renounceable rights issue of 2.5 per cent unsecured loan stock due 1999. The basis of issue will be $4 of loan stock with three warrants for every 10 ordinary shares held in the
          66 words
        • Article
          Metal Containers in Fujian tie-up
          67 8 SINGAPORE Metal Containers subsidiary MC Packaging Pte has tied up a joint venture with China's Fujian Tianhu Group Corp. The joint-venture company, Fujian MC Packaging Co, will make and sell printed tinplate and metal containers. The registered capital of the venture will be 3.6 million
          67 words
        • Article
          Hour Glass to buy Daniel Roth stake
          40 8 SINGAPORE Upmarket watch retailer The Hour Glass has signed an agreement to buy a 51 per cent stake in Swiss watchmaker Daniel Roth SA for $2.6 million. The purchase will be funded internally.
          40 words
        • Article
          ISO 9002 for Liang Huat Aluminium
          48 8 SINGAPORE Main board aspirant Liang Huat Aluminium has been awarded ISO 9002 certification for the manufacture of curtain walls, cladding, aluminium windows, doors and louvres. The award follows quality-control improvements. Liang Huat is the first aluminium fabricator in Singapore to receive certification.
          48 words
        • Article
          Lock icon Tenaga, Canada firm in tie-up
          36 8 Bernama KUALA LUMPUR Tenaga Nasional Berhad (TNB) yesterday signed a technical cooperation pact with Ontario Hydro International Inc (OHII), Canada, covering the electrical industry fields of generation, transmission and distribution. Bernama
          Bernama  -  36 words
        • Article
          Lock icon MPI's rights issue approved
          90 8 Bernama KUALA LUMPUR Malaysia's Securities Commission has approved the proposed rights issue by Malaysian Pacific rnddstries Bhd (MPI) but on revised terms. An MPI statement here yesterday said the one-for-three rights issue of 49.82 million MPI shares priced at M 53.50 per share had the issue
          Bernama  -  90 words
      • Article
        Lock icon Maika Holdings to trim equities, develop two sectors
        283 8 Bernama KUALA LUMPUR Maika Holdings Bhd, which derived some 70 per cent of its earnings from stock investments in a bullish market environment last year, will reduce its exposure in equities this year, chairman G Pasamanickam said yesterday. He said the company
        Bernama  -  283 words
      • Article
        Lock icon KLI to acquire Crystal Mist
        209 8 Bernama KUALA LUMPUR Kuala Lumpur Industries Holdings Bhd (KLI) has proposed to acquire a 100 per cent interest, comprising 500,000 shares, in Crystal Mist Sdn Bhd for MsB2 million. A KLI statement yesterday said the proposed purchase would be satisfied by the issue of 20.5
        Bernama  -  209 words
      • Article, Illustration
        Lock icon Vying for attention
        38 8 Reuter HANOI A Vietnamese model, in traditional ao dai, standing beside a 1994 S32OL Mercedes Benz on display here recently. European carmakers are fighting for a niche in Vietnam's fledgling, Asia-dominated car assembly industry. Keuter
        Reuter  -  38 words
      • Article
        Lock icon Southern Bank's delayed restructuring costly: broker
        401 8 Bernama KUALA LUMPUR Apex Securities Sdn Bhd says that the longer Southern Bank Bhd's proposed restructuring remained unresolved, the greater would be the opportunity cost to the bank. The stockbroking house, in association with Jardinc Fleming, felt that it was more likely that the
        Bernama  -  401 words
      • Article
        Lock icon YTL expected to make M$72m profit this year, more in 1995
        424 8 Bernama KUALA LUMPUR YTL Corporation is expected to make a MS72 million (5542.8 million) pre-tax profit in 1994 and Ms9s million in 1995, BBMB Securities Sdn Bhd says in a review of the company. For the half-year ended Dec
        Bernama  -  424 words
      • Article
        Lock icon Four-party group bids for 21 pc of Phoenix Pulp
        218 8 Bloomberg Business News BANGKOK A group of investors has filed a tender with the Stock Exchange of Thailand to buy 21 per cent of paper manufacturer Phoenix Pulp and Paper. The group comprising Bangkok-based Jalaprathan Cement, Grand Forest International Pte (Singapore).
        Bloomberg Business News  -  218 words
      • Article
        Lock icon Bescorp sees 10pc rise in pre-tax profit
        309 8 Bernama KUALA LUMPUR Bescorp Industries Bhd, a pile contractor and manufacturer of concrete square piles, is projecting a 10 per cent hike over its 1993 pre-tax profit and turnover of M 56.7 million (Ss4.o million) and Ms 63 million respectively for 1994. The
        Bernama  -  309 words
      • Article
        Lock icon CP planning 1.6b baht listing of Siam Makro
        210 8 Bloomberg Business News BANGKOK Charoen Pokphand planned to list its Siam Makro wholesaling-retailing subsidiary on the Stock Exchange of Thailand to fund an expansion programme, the company's president said. Lan Hamilton said the sale of 40 million shares of common stock would
        Bloomberg Business News  -  210 words
      • Article
        UNIT TRUSTS & FUNDS
        501 8 UNIT TRUSTS FUNDS Manager* pric«i May 21 23 US t* Fund 102 1 06" Singapore Unit Trust Invest Mgt Ltd The C ommcrcc 1.71 l.tlad m in<< The Savings Fund 158 1 67 n x T?- t 'f l S pore I'rog Fund 0.72 0 76 <«' F J 6
        501 words
      • Article
        Lock icon KSB in M$40m Indon oil palm joint venture
        408 8 Bernama PETALING J AY A Konsortium Sepang Bhd (KSB) will undertake a joint venture project to develop an oil palm plantation in Indonesia, its chairman said yesterday. Mohamad Sharif Jajang said KSB will tie up with PT Bina Java Fitri to convert
        Bernama  -  408 words
      • Article
        DIVIDENDS ANNOUNCED
        1423 8 Payment Ex Books Pay date close date ABR Hldgs 5* F 9 Jun 29 Jul S Jul IS Acma F 10 Jun 14 Jun 20 Jul S Boustcad 50* I 8.5 Apr 22 May 7 Jun 6 B Kava K S May 24 Jun 8 Jul 7 Cathay
        1,423 words
      • Article
        China Steel signs US$181m wafer deal with MEMC
        335 9  -  By Peter Osborne SINGAPORE China Steel Corporation has announced a US$lBl million (SS2BO million) agreement with MEMC Electronic Materials Ine to become Taiwan's first producer of silicon wafers. The deal was revealed a month ago by Business Times following an exclusive interview
        335 words
      • Article
        Lock icon Profits to keep on falling, say Japanese real estate firms
        317 9 Reuter TOKYO Japan's three biggest real estate companies reported sharp declines in profits in the year ended March 1994, and said they expected earnings to continue falling. But analysts said they expected shares in real estate companies to be firmer
        Reuter  -  317 words
      • Article, Illustration
        Lock icon Chrysler world's lowest-cost car maker, says chairman
        212 9 Reuter TOLEDO. Ohio Chrysler Corp believes it is the world's lowest-cost automobile producer, company chairman and chief executive officer Robert Eaton said on Thursday. Mr Eaton told reporters at Chrysler's annual shareholders meeting here that its total costs including manufacturing, engineering, product development
        Reuter  -  212 words
      • Article
        Lock icon Matsushita group profit drops 21pc on strong yen
        313 9 AFP TOKYO Japan's Matsushita Electric Industrial Co Ltd said yesterday that its consolidated pre-tax earnings tumbled 21 per cent from a year earlier to 128 billion yen (551.89 billion) in the year to March. The world's biggest consumer electronics concern better known
        AFP  -  313 words
      • COMPANY BRIEFS
        • Article
          Lock icon Nikon back in the black
          95 9 AFP TOKYO Japanese eamera maker Nikon Corp announced yesterday a pre-tax profit of 1.1 billion yen (SSI6 million) for the year to March, reversing a loss of 2.3 billion yen a year earlier. But the company said sales fell 1.9 per cent to 201 billion
          AFP  -  95 words
        • Article
          Lock icon Ricoh pre-tax profit jumps 51pc
          37 9 AFP TOKYO Japan's Ricoh Co Ltd said yesterday its consolidated pre-tax earnings jumped 51 per cent from a year earlier to 25.6 billion yen (***** million) in the year to March. AFP
          AFP  -  37 words
        • Article
          Lock icon Honda pre-tax earnings fall 47pc
          76 9 AFP TOKYO Japan's Honda Motor Co Ltd said yesterday its consolidated pre-tax earnings tumbled 47 per cent from a year earlier to 46.9 billion yen (***** million) in the year to March. The company said its worldwide sales dropped 7 per cent to 3.860 billion
          AFP  -  76 words
        • Article
          Lock icon Toray pre-tax profit down 38pc
          99 9 AFP TOKYO Japanese textile giant Toray Industries Inc said yesterday its consolidated pre-tax earnings plunged 38 per cent from a year earlier to 33.8 billion yen (SSSOI million) in the year to March. The company said global sales fell 8.9 per cent to 884 billion
          AFP  -  99 words
        • Article
          Lock icon Onoda blames poor profit on high yen
          109 9 Reuter TOKYO Onoda Cement Co Ltd said the appreciation of the yen and the cold summer, plus a continued slump in consumer spending and private equipment investment, were to blame for its poor 1993/94 parent earnings. But the cement maker expects a marginal
          Reuter  -  109 words
        • Article
          Lock icon Mitsubishi Kasei slips into the red
          78 9 AFP TOKYO Japan's biggest chemical maker Mitsubishi Kasei Corp announced yesterday a pre-tax loss of 8.4 billion yen (SSI24 million) for the year to March, reversing a profit of 8.3 billion yen a year earlier. The company said sales declined 12 per cent to
          AFP  -  78 words
        • Article
          Lock icon Okamoto pre-tax earnings fall 13.1pc
          73 9 AFP TOKYO Japan's biggest condom maker Okamoto Industries Inc said yesterday its pre-tax earnings dropped 13.1 per cent from a year earlier to 3.5 billion yen (SSS2 million) in the year to March. The company said sales declined 15.4 per cent to 72.5 billion yen
          AFP  -  73 words
    • SHIPS IN PORT
      • Article
        AT CONVENTIONAL WHARVES
        430 9 Vessel Voy No Berth Arrival Departure Vessel Voy No Berth Arrival Departure Jurong Port wun 2 206*94 po3 2O05/1J00 2105/0400 Oew Fortuna U/94 )1 alongside 21.05/2000 Kabaniahe *19,94 P03 20.05/1500 2005/2300 Dm Sempwna U/94 12/3 alongside 21 05/2300 Marine,P 21/05° P01A 2105/0800 2105/1500 Fayrow 1 01/94 16
        430 words
      • Article
        CONTAINER SCHEDULES
        1971 9 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Booking/Balance Rslts Ship Voy No Etb/Btr Period From To From At" lad« 18/A 22/0500 16 20/1500 20/1659 20/1900 2A 20/1/00 21,0659 21 0900 3 21/0200 21/1159 21/1400 4 21/1200 21/1459 21/1700
        1,971 words
    • FINANCE & COMMODITIES
      • Article
        Lock icon Deutsche Bank expects fall in 1994 operating profit
        412 10 Reuter DUFSSELDORF Deutsche Bank AG, Germany's biggest bank, on Thursday reported a fall in operating earnings in the first four months and said it was unlikely to repeat last year's record earnings in 1994. Speaking at Deutsche's annual shareholders' meeting in Duesseldorf,
        Reuter  -  412 words
      • SMALL CHANGE
        • Article
          Lock icon Sucden seeks sugar-oil deal
          114 10 Reuter MOSCOW French trade house Sucden is negotiating with Russia's semi-autonomous republic of Tatarstan for white sugar sales of up to 40,000 tonnes this year, probably in exchange for purchases of oil, company sources said. Sucden, which delivered a similar amount of white sugar to Tatarstan
          Reuter  -  114 words
        • Article
          Lock icon German bank given HK licence
          105 10 AFP HONGKONG Germany's eighth largest bank, Bayerische Landesbank Girozentrale (BLG), has been granted a licence to operate here as part of its move to widen services to Asia-Pacific, a government spokesman said yesterday. The bank, which ranks 84th in the world in terms of capital,
          AFP  -  105 words
        • Article
          Lock icon China Merchants posts US$1.4m profit
          71 10 Bloomberg Business News HONGKONG China-backed investment concern China Merchants China Direct Investments said its after-tax profit was US$l.45 million (552.23 million) in the year ended Dec 31, 1993. In a statement, the company said earnings per share were 1.5 US cents and gross revenue was
          Bloomberg Business News  -  71 words
        • Article
          Lock icon Mercantile's policies not terminated
          51 10 Bernama KUALA LUMPUR The policies issued by Mercantile Insurance Sdn Bhd have not been terminated, Bank Negara Malaysia said on Thursday, despite the fact that the company has been directed to cease writing new business and renewals and to suspend all payments with effect from Wednesday.
          Bernama  -  51 words
        • Article
          Lock icon Stanchart HK launches loan offer
          60 10 Knight-Ridder HONGKONG Standard Chartered Bank's Hongkong branch yesterday launched a HK$6OO million (Ssl 19.4 million), five-year floating-rate certificate of deposit offering with an all-in interest rate of 45 basis points over three-month Hibor, said a spokesman for Standard Chartered Asia, the arranger, yesterday. The interest
          Knight-Ridder  -  60 words
      • Article, Illustration
        US$ recovers against mark
        453 10 DBS weekly currency review US$/DM: 1.6500 to hold? The greenback traded in the range of 1.6622 to 1.6774 before aggressive selling dragged it down to 1.6520 on Thursday. It then recovered to around 1.6570 yesterday morning. Support is expected at 1.6500, a breach of which could
        453 words
      • Article, Illustration
        Thai bank debuts on S'pore market with US$38m loan
        183 10 SINGAPORE Thailand's Laem Thong Bank raised a loan of US$3B million (5558.9 million) yesterday from a group of 19 financial institutions. Making its debut in Singapore's offshore capital market, the Thai commercial bank originally planned to borrow only US$25 million. But
        183 words
      • Article
        Lock icon GE Capital to sell US$250m five-year dragon bonds
        162 10 Bloomberg Business News HONGKONG General Electric Capital, the financing arm of the US appliance and financial services company, is selling USS2SO million (*****.5 million) worth of five-year dragon bonds, said a banker involved in the sale. Lehman Brothers Securities Asia is underwriting
        Bloomberg Business News  -  162 words
      • Article
        Lock icon US may become sugar exporter one day as output grows
        259 10 Reuter BRISBANE Sugar imports into the United States will remain stable over the next six years but an increase in domestic production could have an effect on the world export market, a US food and beverage consultant said. Vice-president of
        Reuter  -  259 words
      • Article
        Lock icon London
        187 10 Bloomberg Business News LONDON The dollar tumbled to a two-week low against the mark yesterday as optimism about the German economy and concerns about high money supply growth dampened expectations of further interest rate cuts. The dollar skidded a further half a pfennig below 1.65 marks as New York
        Bloomberg Business News  -  187 words
      • Article
        Crude oil futures rise further on contract expiry
        156 10 Bloomberg ENERGY REPORT LONDON Oil futures prices in New York climbed yesterday reflecting buying interest in prompt oil as the June futures contract expired yesterday, brokers said. London futures were little changed, as traders awaited new elements that might provide direction. Most
        156 words
      • Article
        Lock icon New York
        84 10 AFP NEW YORK The dollar was under pressure from other major currencies in early trading on Wall Street yesterday although the market was quiet. The ounce of gold meanwhile was US$2.3O up at U*****.70 compared to its Thursday close. At 9:30 am (1330 GMT), the greenback was at
        AFP  -  84 words
      • Article, Illustration
        Untitled
        1713 10 /ludf-itrttehlnl nulf\ iak iilnuil again\l S'i»me'* io/t H muling partners Base war /W US$/S$ forward rates Noon May 20 s$ Bid Offer 1-month 1.5385 I.MOO 2-month 1.5382 1.5397 J-month 1 5380 1.5395 6-month 1 5367 1.5387 Smrv (K BC" Source: OCBC FOREIGN CURRENCY NOTE RATES As at 9am on May
        1,713 words
    • COMMODITIES & FUTURES
      • Article
        Lock icon Eurodollar ends easier on profit-taking
        1351 11 SIMEX REPORT Reuter SINGAPORE Simcx Eurodollar futures closed easier after trading in a narrow range yesterday. "Eurodollar has been moving up for the last five sessions so we expected to see some profit-taking today," said a dealer with a Japanese bank. Dealers said Eurodollar futures
        Reuter  -  1,351 words
      • Article
        KL tin falls further on poor demand
        593 11 COMMODITY REPORTS Tin TIN fell further to close 15 sen lower at MS 14.31 a kg yesterday. in line with falls in London and poor overseas demand, dealers said. Although the local premium to LME priccs has narrowed. European buyers remained absent. they
        593 words
      • KNIGHT-RIDDER COMMODITY SUMMARY
        • Article
          HK cotton yarn price at 3-year high
          98 11 HONGKONG The local cotton yarn price is hovering at the highest level in three years due to price surges in cotton and tightness in global cotton supply, traders said. Prices are expected to remain firm throughout the year. The benchmark 100-per cent cotton,
          98 words
        • Article
          German 1st-qtr crude oil imports up
          111 11 HAMBURG German imports of crude oil in the first quarter totaled 25.426 million tonnes, up 10.7 per cent from 22.973 million a year ago, the refiners' organisation Mincraloel Wirtschaftsverband (MWV) said yesterday. The average price paid was 185.62 marks per tonne, down 16.3 per
          111 words
        • Article
          India zinc output in April down
          92 11 NEW DELHI India's zinc metal output in April fell to 8,093 tonnes, from 9.970 tonnes a year earlier, the government said. A latest statement from the Ministry of Mines said the output from the state-run Hindustan Zinc Ltd India's main zinc producer was 5.984
          92 words
        • Article
          Pacific Metals reports recurring loss
          64 11 TOKYO Japan's Pacific Metals Co Ltd yesterday reported a recurring loss of 8.363 billion yen (SSI23 million) for the fiscal year ended March 31, compared with a loss of 5.078 billion yen a year before. Pacific Metals. Japan's largest manufacturer of ferro-nickel. also forecast a
          64 words
      • Article
        COMMODITY PRICES
        1488 11 Rubber May 20 Singapore Commodity Exchange Plqrskol frfcm (futures closing at at SJtpm) lujjin llitlTl As at 12 mm (S cents/kg) RSS 1 CMtract (S cents/kg) fw v rr— RSS 2 Junc 94 150.50 151 50N Month High Low (lS IntcSS KSS 3 Junc 94 149.50 150.SON KSS
        1,488 words
    • REGIONAL STOCK MARKETS
      • Article
        Australia
        1244 12 10.2 THE Australian share market rallied in afternoon trade after taking the large Pasminco sale in its stride to finish stronger. The All Ordinaries index finished up 10.2 points at 2,103.9 after hitting a low of 2,090.6. "Effectively, a lot of the institutions had to sell stock today to
        1,244 words
      • Article
        Manila
        620 12 13.83 Share prices rebounded as investors shrugged ofT a Treasury bill scandal which caused two days of anxiety in the market, brokers said. The Philippine Stock Exchange said its composite rose 13.83 points or 0.5 per cent to hit 2,870.32, up from the 2,856.49 posted on Thursday when the
        620 words
      • Article
        Taipei
        569 12 -38.82 Taipei bourse retreated fr the fourth straight day partly because of disappointed first quarter economic performance, with construction shares posting the largest losses, dealers said. Extending the previous trading's 38.64-point drop, the benchmark 374-issue weighted price index slid another 38.82 points or 0.65 per cent to finish at
        569 words
      • Article
        Seoul
        404 12 -3.23 Stocks ended lower on shortterm consolidation which brokers blamed on institutional profit-taking. The composite stock index shed 3.23 points to 948.50, ofT a day high of 957.10. Three trusts, major institutional investors, arc scheduled to pay back some 2.15 trillion won in soft loans from the central bank
        404 words
      • Article
        New Zealand
        302 12 +8.4 New Zealand shares ended the week higher as investors took their lead from another rally in US markets, traders said. However, investors appear wary about how long the reverse of fortunes will last, they said. The last several days have seen global markets settle down, after a
        302 words
      • Article
        Bombay
        55 12 -33.09 Share prices falling during a major part of the session ended down but higher than the day's low as financial institutions stepped in to buy, brokers said. The Bombay Stock Exchange 30-share index ended 33.09 points, down at a provisional 3,775.68. The 100-share national index closcd 13.56 points
        55 words
    • WORLD STOCK MARKETS
      • Article
        London
        820 12 +4.4 STOCKS closed mixed after government bonds declined amid concern about the US dollar. The FT-SE 100 Index of leading British shares rose 4.40 points to 3,127.20, pulled higher by gains in shares of British Telecommunications pic and HSBC Holdings pic. The dollar fell to a twoweek low against
        820 words
      • Article
        Paris
        124 12 -9.92 French stock prices fell as the approach of the end of the trading month added to selling pressure, traders said. The CAC 40 Index of leading French stocks ended at 2,155.43 points, down 9.92 points from Thursday's close and as much as 15.95 points off the high it
        124 words
      • Article
        Stockholm
        91 12 -11.75 Swedish shares closed lower after bond yields rose on fading hopes the central bank will cut official interest rates next week. The OMX Index of 30 stocks fell 11.75 points to 1171.45 as 24 stocks fell, three rose and three were unchanged. Stockholm May 20 Skr \*ca M5
        91 words
      • Article
        Frankfurt
        197 12 -13.64 German stocks closcd down in light after-market trading. Investors turned cautious as German ?|Ovcmmcnt bonds fell on ears that the Bundesbank docs not have money supply under control. In post market trading the DAX Index of 30 German stocks fell 13.64 points below the official close of 2,236.01.
        197 words
      • Article
        Brussels
        183 12 +6.58 Belgian stocks closed higher as falling interest rates and potential for export growth boosted expectations of ris- ing profits, analysts said. The Bel2o index of leading shares closed 6.58 points up at 1538.96. Cyclical industrial stocks led the advance, climbing higher on hopes for economic recovery and an
        183 words
      • Article
        Milan
        152 12 -172 Italian stocks slumped amid selling by overseas investors worried about the thin majority held by Prime Minister Silvio Berlusconi's new government in the Senate, traders said. The Milan market's blue chip Mibtel Index ended down 172 points or 1.4 per cent at 12,364. The index tumbled 2.1 per
        152 words
      • Article
        Amsterdam
        283 12 -2.76 Dutch stocks fell, with stocks of multinational companies under pressure from a lower dollar and rising bond yields. A weaker dollar usually hurts the profits of Dutch companies that sell their goods and services in the US. The market was dragged down by Royal Dutch Petroleum Co, which
        283 words
      • Article
        Zurich
        225 12 +6.9 The Swiss Market Index closed higher, boosted bybanks and industrial shares, despite falling back ahead of a long holiday weekend. The SVtl's 21 stocks closed up 6.90 points at 2732.70. Twelve stocks advanced, seven declined and two were unchanged. Zurich XleTzo FhUn VT \luvmse Br 682 14 Bumn
        225 words
      • Article
        Johannesburg
        288 12 34 South African shares posted steady late-afternoon gains as they rallied on the back of a stronger gold price and a general improvement in sentiment, dealers said. The overall index was up 34 at 5.474, industrial index 62 points better at 6.620 and gold index 22 points better at
        288 words
      • Article
        Toronto
        297 12 1.23 Toronto stocks were narrowly mixed in subdued, featureless midday dealings yesterday as the Victoria Day weekend thinned out market participants, traders said. The TSE 300 composite index edged up 1.23 points to 4286.91 in turnover of 34.17 million shares valued at C 5397 million. About 3.0 million of
        297 words
      • Article
        New York
        777 12 -4.6 Blue chips stocks were lower yesterday, turning the tables on a three-day interest rate-related rally, as profittaking was the name of the game amid a lack of other economic news. The Dow Jones Industrial Average was off 4.60 points at 3,754.38 at 1 pm EDI", staying within
        777 words
      • Article
        Untitled
        578 12 Vienna Ma> 20 Wh +Z" MM l»20 JO Bank Aumiu (Pi 41? until n.l.inlu >»•»< J t Iwvh.iten 4*8 unch I cn/ing i;*U 10 Icvkam 4J2 I Wvci-DP 6 VI jK* I '55 VrilMhrt JV» J f 5 Source: Bank Austria Aktiengesellchaft Nasdaq Mj> |9 ISS +7" Xtlofph (t*>rv Birring
        578 words
    • Article, Illustration
      Lock icon HONGKONG
      3070 13 Bloomberg Business News HONGKONG The benchmark Hang Seng Index rose 2.96 per cent on hopes for progress in Sino-British talks on financing Hongkong's new HK.S2O billion airport, traders said. Prices were also buoyed by expectations that interest rates would remain stable and by brokerage Morgan Stanley's recommendation that Hongkong
      Bloomberg Business News; Source: Bridge Info  -  3,070 words
    • Article, Illustration
      CHINA
      561 13 ACTIVE trading in Shanghai B shares brought turnover up 14 per cent to US$6.4 million yesterday. Jin Jiang Tower shot up 12.2 per cent on high volume. Most counters moved up between 1 to 10 per cent except Lian Hua Fibre which shed 2.3 per cent on low turnover.
      561 words
    • Article, Illustration
      Lock icon TOKYO
      2553 13 Bloomberg Business News TOKYO Stocks rose to a twomonth high on optimism surrounding a weaker yen and strong earnings projections from Japanese companies, traders said. Strong demand from European and US investors helped push up steel manufacturers amid expectations for a pickup in steel demand amid general economic recovery,
      Bloomberg Business News; Source: Bridge Info  -  2,553 words
    • Article, Illustration
      Lock icon BANGKOK
      1661 13 Bloomberg Business News BANGKOK Stocks rose for a sixth straight day as investors bid up brokerage shares on expectations that a recent surge in trading would mean more commissions, analysts said. Better-than-expccted earnings, particularly by banks and manufacturers, had made investors more confident of the companies' prospects, said Gerard
      Bloomberg Business News; Source: Bridge Info  -  1,661 words
    • Article, Illustration
      Lock icon JAKARTA
      1150 13 Bloomberg Business News JAKARTA Indonesian stocks rose for the eighth straight session as investors bought shares in companies reporting solid firstquarter profits, traders said. Banks, which promise good growth this year, were among the biggest movers. The Jakarta Stock Exchange Composite Index, which tracks all stocks, rose S.25 points,
      Bloomberg Business News; Source: Bridge Info  -  1,150 words
    • Article
      CLOB INTERNATIONAL
      2839 14 MOST ACTIVt »dum» Mulpha Inll 5ft: 4.J35.000 Kcnong Bhd 50c 2.658.000 Pro«ict 2.169.000 Mm Hyd 50c 2.091.000 Multi-Purpose 1.710.000 Faber Group 1.647.000 General Corp 1.249.000 kamunting 50c 1.229,000 FACB 50c 1.102.000 Lien Hoe TSR97 877.000 kemavan 50c 871.000 Beijava Ind 817.000 Ganda Hldgs 751.000 MOST ACTIVE v«tu« Mulpha
      2,839 words
    • KUALA LUMPUR STOCK EXCHANGE
      • Article, Illustration
        Lock icon Stocks little changed as institutions move out
        6035 14 Bloomberg Business News KUALA LUMPUR Stocks were little changed yesterday as institutions put funds into other markets promising better returns, and individuals decided to wait for Malaysia's next growth figures before venturing back into the market, traders said. "Basically, the big boys aren't
        Bloomberg Business News; Source: Bridge Info  -  6,035 words
    • STOCK EXCHANGE OF SINGAPORE
      • Article
        Untitled
        7582 15 MAIN BOARD Transaction date: May 20 Gr Or (994 I JIM Vol Day 1ml Qitolr l>i» IN« \M Set M <»p High l*« Company Sale (*000) High Low Bayw Seller S C»r I'It Smil INDUSTRIAL AND COMMERCIAL I3SO 206 I s Acma 885 cd +5 143 885 880 880 885
        7,582 words
      • Article, Illustration
        Lock icon Recovering sentiment after Fed's move benefits blue chips
        1892 16  -  By R Sivanithy SINGAPORE Blue chips closed higher yesterday for the fifth consecutive day, and a firming of the overall market led some brokers to take a positive view of the week ahead. Although the Straits Times Industrials Index closed with a
        Charts by Bridge Info; Source: Bloomberg  -  1,892 words
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      280 6 NEWS VALUE How today's news might affect your stocks Spore Telecom earnings jump 19.5 pc to $1.2b (pg 1) Pretty good results. Sustaining this pace of profits growth will be a challenge even though prospects for the group's domestic services look bright. Anwar confirms use of strong ringgit to fight
      280 words
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      1156 7 ANNOUNCEMENT SINGAPORE TELECOMMUNICATIONS LIMITED (INCORPORATED IN THE REPUBLIC OF SINGAPORE) THE BOARD OF DIRECTORS OF SINGAPORE TELECOMMUNICATIONS LIMITED IS PLEASED TO ANNOUNCE THE FOLLOWING 1. UNAUDITED RESULTS FOR THE YEAR ENDED 31 MARCH 1994 3. UNAUDITED BALANCE SHEETS AS AT 31 MARCH 1994 GROUP COMPANY 1994 1993 Change 1994 1993
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      Page 11 Advertisements Column 2
      36 11 As and when the latest London/ Rotterdam prices are not available, the previous trading day's closing figures are carried instead. Make new business contacts through classification -tfs. 203 in The Straits Times Classified, cjlta. 1737-» M«
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      64 12 BV u a rw% "F% TXsiNGATOKti m usinessiimes Business Times Business Times Businessiimes Busmesslimes wtamm Subscribe now and have your personal copy delivered to your doorstep. Mail or fax this form to: Customer Relations Section Circulation Department P t I PnH IlijMßsMl Singapore Press Holdings Limited 82 Genting Lane News
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      166 words
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      6 14 IT 1 Monday in Business Times
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      166 15 mi Non-reflecting sapphire glass. Ik 4 Water-resistant to 100 m or 50m. EE |"^H HORNS' Above ft Beyond Pie Ud 1 Maritime Square #02-101 Expo Gateway Tel *****42. Cortina Watch Centre Ptc Ltd #01-36 Raffle* City Shopping Centre Tel *****85. #01-32 l.ucfcy Plaza Tel *****64 Deluxe Eastern Watch Pte Ltd
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      22 16 BUSINESS TIMES TOLL-FREE TEL. No. 1-800-741-1883 FAX:74I-1298 PLAY SMART Be part of the good life. Lifestyle. Everyday. SINGAPORE f Business Times wentuwAsiA
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  • Executive Lifestyle
    • Article, Illustration
      Best bets for the Arts Fest
      1610 17  -  Which are the shows worth catching this year? Jaime Ee asks arts festival veterans for their choices Jaime Ee ARTS FEST fever is back upon us, and considering that Singapore has been spoilt with all manner of world-class shows (Cats, Les Miz, Jose Qureras,
      1,610 words
    • STRAWS IN THE WIND
      • Article
        Last concession?
        51 17 WE'RE ALL familiar with NTUC Pair Price, dedicated to bringing us our worldly goods at fair prices. Spotted on a van the other day were the words "Casket Pairprice". We presume it's run by some company (hat believes in sending you out of this world at a good
        51 words
      • Article
        Press recognition
        33 17 AT THE recent opening of a new department store, a security guard greeted one reporter like this: "Hello, you are a press is it?" Well, that's one way of putting it.
        33 words
      • Article
        Gosh, they guessed
        43 17 THE Straits Times' Manila correspondent Nirmal Ghosh, was more than a trifle surprised when he received a letter addressed to 'German Ghosh'. But he was surprised not because they got his name wrong, but because he actually is half German.
        43 words
      • Article
        Pastoral advice
        46 17 A PASTOR last Sunday issued a friendly warning to the younger members of his congregation not to get carried away and paste stickers about Jesus Christ in public places. In reference to the Michael Fay case, no doubt, he quipped: "That's evandalism', not evangelism."
        46 words
    • OPINIONS
      • Article, Illustration
        Can't live with 'em, can't live without
        998 18  -  Watch the MFN get renewed soon, says Tye Kim Khiat it's clear the US needs China more than China needs the US Tye Kim Khiat The writer is a BT copy editor THE SANDS are running out as June 3 draws nigh. China
        998 words
      • Article, Illustration
        Save the cuties and score some points
        1072 18  -  OUB (Australia) is stuck on a land deal in New South Wales. Florence Chong tells how the Australian state government would gain by helping the bank out Florence Chong The writer is BT's Sydney Correspondent A "GREEN" ban placed by unions to save
        1,072 words
      • Article
        MUI's business methods not aimed at pleasing politicians
        428 18  -  LETTERS TO THE EDITOR Chik Wai Ming (Ms) Company Secretary Malayan United Industries Berhad WE REFER to your article titled "Reclusive MUI chief returns to the spotlight" (BT. May 17). Firstly, we wish to inform you that Hope Foundation is not a
        428 words
      • Article
        A pyrrhic victory for rival Yeo faction
        105 18  -  Lin Jian-guo Singapore 1130 I WOULD like to comment on the goings-on at Yeo Hiap Seng. The dissident Yeo family's victory over chairman Alan Yeo in the recent takeover saga is a pyrrhic victory. Mr Yeo's refraining from comment may have deluded his
        105 words
    • PROFILE
      • Article, Illustration
        Lock icon The world according to Zhirinovsky
        3475 19  -  In Russia's December elections, the ultra-nationalist Vladimir Zhirinovsky won almost quarter of the vote and became an international bogeyman. Now he has published a volume of his reflections. Andrew Higgins introduces the man and some excerpts from his book Andrew Higgins The Independent on Sunday
        The Independent on Sunday  -  3,475 words
    • PERSONAL FINANCE & INVESTMENT
      • BULLS EYE
        • Article, Illustration
          BT SENTIMENT INDEX (May 23-27)
          61 20 Those polled on their views of the Singapore stock market for the week ahead: Baring Securities, Daiwa Securities, DBS Asset Management, GK Goh, Morgan Grenfell Asia Securities, Nomura Research Institute. OCBC Investment Research, Ong Co, Peregrine Securities, Phillip Securities, Schroder Securities, Tat Lee Securities, \V
          61 words
        • Article
          Buy!
          386 20 OCBC Investment Research (May 20) Polytek Wearnes Holdings. The proposed injection of WBL Corporation's assets into PWH is positive for the latter. Assuming the deal takes place by end-June, we estimate Polytek's FY95 net earnings for nine months to be about $16.1 million. As a trading stock, it will
          386 words
        • Article, Illustration
          Eye on the region: Indonesia
          118 20 PT Peregrine Sewn Securities Bulls took charge as the index improved 4.4 per cent week-on-week on a resurgence of local and foreign buying. Interest was generally broad, but there has been a focus on larger cap counters that boast reasonable trading liquidity. The market rise
          118 words
        • Article, Illustration
          In my opinion...
          188 20  -  Brenda Woo Research manager Tat Lee Securities nvestors tend to foI cus too much on JL price-earnings ratios, earnings per share and net tangible assets, and neglect the fundamentals of a company's liquidity position or solvency. One measure of long-term debt-paying ability is the company's debt-to-equity ratio,
          188 words
      • Article, Illustration
        Lock icon No go for Yeo Hiap Seng, Khoo Kay Peng goes for SCMP
        1281 20  -  Joyce Quek recaps this week's hottest news and examines how they will affect the market Joyce Quek WHITHER the newsmakers next week? The hottest news items during the week had been the volleys fired by rival family factions
        Photo by Chris Loh  -  1,281 words
      • Article
        Banks, property counters get higher rating from analysts
        674 20  -  They are especially bullish on DBS Bank, OUB, Centrepoint Properties and FCC. Agnes Chen reports Agnes Chen CORPORATE earnings are generally headed higher, analysts believe, and they are especially optimistic about the prospects of banks and property companies. However, with the March
        674 words
      • Article
        Lock icon US regulators urge funds to drop jargon, explain more
        390 20 Business Business News MUTUAL fund companies sometimes don't understand the products they sell, bury crucial information and mislead investors with jargon-filled material, a panel of US regulatory experts said on Wednesday. The specialists were speaking at the Investment Company Institute's annual
        Business Business News  -  390 words
      • Article, Illustration
        Fasten your seat-belt if you plan to invest in Asian airlines
        879 21 THE SKIES ahead are far from clear for Asian airlines, but a turnaround is on the horizon, says US investment firm Lehman Brothers. Strong upswings in profits in the second half of 1995 are possible, it reckons, but for
        879 words
      • Article
        Not-so-friendly skies
        406 21 Singapore Airlines Status as a premier airline is reflected in its high price-to-cashflow multiple relative to major world airlines It may carry out its ambitious plans to buy more and bigger planes, enter new markets and expand market share at the expense of yields Very dependent on cost
        406 words
      • Article
        Rare Far Eastern collectibles up for auction
        444 21  -  The very first Straits Settlements $5 banknote is among the collection. Sean Ang reports Sean Ang OING once, going -w- twice, gone!" Calling numismatists and notaphilists. Look out for the first ever coin and banknote auction hosted by Spink Son, coin dealers since
        444 words
      • Article
        Coin collecting a profitable hobby
        511 21 IF INVESTING in stocks and shares gets you down, try rare coins and banknotes instead. Who knows, it may even turn into a profitable venture, says B H Lim, managing director of Taisei Stamps Coins. The Straits Settlements five-dollar banknote issued in 1898, for example,
        511 words
      • Article, Illustration
        Land of opportunities
        677 21  -  Asia was picked as the region with the highest growth potential in a survey of institutional investors. Agnes Chen nas the details Agnes Chen AMONG emerging markets, China. Malaysia and Thailand offer the best investment opportunities, according to a survey of international fund managers. The survey found
        677 words
    • Article, Illustration
      Riotous connections
      680 22  -  Review By SHAHIRON SAHARI A\fEDRO AJmodovar film has the ability fb really polarise its body of viewers: they come out either liking or hating the film there are hardly any in-betweens. Kika, in that regard at least, will not disappoint. Like earlier movies by the Spanish director, Kika
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      Racing into familiar territory
      567 22  -  By SHAHIRON SAHARI YOU CAN imagine the marketing deals being worked out for Airborne, a movie about a rollerblading kid who has to fight for acceptance in a new town. The target market, for example, would fee older teens with a love of dangerous drills, a
      567 words
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      A green and friendly retreat A green and friendly retreat
      1249 22  -  Margaret Thomas meets a couple of baby-boomers who gave up their careers to run a laid-back beach resort in Kuantan Margaret Thomas SHORTLY after the Highland Tower condominium collapse in Kuala Lumpur last December that killed more than 70 people.
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      Lively Legacy
      712 23  -  Motoring By SAMUEL EE IF THERE'S one thing Singapore motorists have in common, it must be the pragmatic ability to recognise value for money when they see it. The original Subaru Legacy is one such example of this pragmatism. During its model life here from 1989 to 1992,
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      Lock icon The long road home
      735 23  -  Book Review By CHUANG PECK MING A Way In The World By V S Naipaul Heinemann, London $25.65, 369 pages. IN An earlier book, The Enigma Of Arrival, V S Naipaul wrote of a writer from Trinidad, of Indian descent, who had travelled to England and
      Illustration from book cower  -  735 words
    • SPORTS
      • Article
        An avid walker takes his hat off to all Big Walk participants
        588 24  -  BWiMUrM By Kevin Sullivan SINGAPORE This year's big walk looks set to be very big indeed. Organisers say almost 30,000 people have signed up for the annual en masse perambulation. Walkers will be thick on the ground; they
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        Lock icon Pacers headed for Eastern finals
        545 24 NBA playoffs AP NEW YORK The Indiana Pacers arc going to the Eastern Conference finals. The Denver Nuggets are going back to Utah with a chance to reach the Western Conference finals. Indiana, a team that had never won a National Basketball Association playoff series
        AP; Reuter  -  545 words
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        Lock icon Mark Brooks takes 3-stroke lead at The Memorial
        352 24 Goir AP DUBLIN, Ohio Mark Brooks, who marks his ball with a lucky 1964 five-cent coin, gave superstition a good name on Thursday when he opened with a 64 for a threestroke lead at The Memorial. In striking with eight birdies and
        AP  -  352 words
      • SPORT SHORTS
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          Lock icon Athletics
          192 24 AFP AFP WELLINGTON, New Zealand An all-female Japanese crew will compete in this year's Rally of New Zealand. The entry of Mayumi Nagoshi will be the first time an allfemale Japanese crcw has competed at world championship level. Nagoshi. 36, will drive a Subaru Legacy. "Although it is not
          AFP  -  192 words
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          Lock icon Rugby
          86 24 Ah DLRBAN, South Africa England named a near full strength line-up for the second match of their South African tour, picking 14 of the players that did duty for England in the final five nations match against Wales. The team to take on Natal today, after Wednes- day's embarrassing
          Ah  -  86 words
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          Baseball
          40 24 NEW YORK Major League on Thursday American: Cleveland 4 Milwaukee 2 (in 13); Baltimore 2 Boston 3; California S Kansas City 4; Seattle 5 Texas 4. National: Cincinnati 3 Atlanta O. Colorado 2 LA 8; Houston 9 SF 5.
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          Cricket
          34 24 BIRMINGHAM, England England beat New Zealand by 42 runs on Thursday in the 55-over oneday international. England 224-8 (M A Atherton 81, C Pringle 5 45), New Zealand 182 (B A Young 65).
          34 words
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          Golf
          40 24 ROME Italian Open Ist round on Thursday (GB an Ins stated); 64 A Ccjka (Gcr) 65 P Eales 67 P O'MaUev (Aust). R Raffcrty 68 R Boxall. A Hare. W Riley (Aust). G Orr. C Moody. T Pcmicc (US).
          40 words
        • Article, Illustration
          Lock icon Soccer
          39 24 NYT TOKYO A sports league task force made up of Diet members has outlined a bill to legalise soccer wagering that would apply half the proceeds to the central government and the rest to underwrite national sports. NYT
          NYT  -  39 words
    • PEOPLE
      • Article, Illustration
        Dressing up for charity
        215 24 MORE than $200,000 was raised at the recent Alfred Dunhill Charity Gala Dinner held at the Tower Ballroom of the Shangri-La Hotel. The proceeds were in aid of the National Kidney Foundation. Minister for Communica- tions and for the Environment Mah Bow Tan was the guest-of-honour
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    • TIME OFF
      • Article, Illustration
        When a true blues King sings
        765 25  -  A blues concert is no dreary affair, as Shahiron Sahari finds out Shahiron Sahari FORGIVE the ignorance, but I think I've been misled. Being no blues aficionado. and having attended only some depressing jam sessions, I've always had the impression that a blues eoncert
        765 words
      • Article, Illustration
        In the mood for a legend
        372 25  -  Shahiron Sahari traces the career of James Moody who will be in Singapore next week Shahiron Sahari Legendary saxophonist James Moody makes a firsttime appearance in Singapore next week when he performs at Jeremy's Jazz and Blues Cafe from Tuesday to Saturday. Moody, 69,
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      • Article
        SINGAPORE ARTS FESTIVAL
        511 25 The bi-annual event this year promises to be bigger, better, faster and more than previous festivals with over a hundred groups and solo artistes performing. May 27 to July 3. Counter sales for all ticketed shows are on at all TicketCharge outlets. Call 296-2929. NOTE: all shows
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      • Article
        ARTS FESTIVAL FRINGE
        650 25 This year's fringe events bring together more than 100 Singaporean as well as international artistes. Kicking off with a parade and concert (see below), it features special items like late night performances, displays and a Concert in the Park. Performances are free unless otherwise stated. May 22
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      • Article
        PERFORMANCES
        67 25 Some Enchanted Evening A revue of songs from the musicals of the successful songwriting partnership of Richard Rodgers and Oscar Hammerstein II; from South Pacific to Oklahoma, from Carousel to The King and I. Today at the Jubilee Hall: May 23 to 25 at the World Trade Centre Auditorium:
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        CONCERTS
        361 25 An Evening of Music The Ellwangen Band from Germany, one of the most renowned symphonicbands there, will be here for a one night concert featuring works by Brahms, Bach and Strauss as well as contemporary hits by artistes like Bryan Adams and well-known movie themes. Accompanying the band will
        361 words
      • Article
        FILMS
        125 25 The Great American Adventure Experience the wonders of the US through three filmlets. Showtime*: I lam: Hidden Hawaii: I2pm: Niagara Miracles. Myths and Magic: Ipm: Grand Canyon The Hidden Secrets: 2pm: Hidden Hawaii: 4pm: Niagara: spm: Grand Canyon: 7pm: Hidden Hawaii and Bpm: Niagara. At the Singapore Science Centre's
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        EXHIBITIONS
        514 25 The Art of Rupa Natarajan An cxhibition-cum-sale water colour paintings by R Natarajan will be on display. Her ability to catch the vitality that we often do not see ourselves is reflected in her works. Till May 27. llam to 7pm at the Foyer. Regent Hotel. Admission is free.
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      • Article
        TALKS
        230 25 Bharata Natya Katak: Contrasts in Rhythm and Moods This series of talks by the Friends of the Museum presents a lecture this week by Neila Sathyalingam on the two contrasting dance forms of the Bharata Natya and the Katak. Also on hand are two dancers and musicians who will
        230 words
      • Article
        MISCELLANEOUS
        114 25 New Paper Big Walk Expected to be the biggest sport event in Singapore with an estimated 25.000 walkers. A brand new Opel Corsa and other prizes worth over Sioo.ooo will be given away at the participants' lucky draw. Tomorrow, starting from the West Entrance of' the National Stadium. Malam
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      • Article
        AT THE SUBSTATION
        241 25 Painting for Beginners Basic practical course on semi-and-pure abstract painting by John Lim. Every Thursday till July 7. 7pm to 9pm at Classroom I Fee: SISO per person. Talk and Logos As part of the Substation's 3rd Raw Theatre Festival, the Necessary Stage will stage this double-bill
        241 words
      • Article
        TICKETING
        126 25  -  Compiled by Christopher Toh Sistic outlets are at Forum Galleria. Liang Court. Raffles City, Scotts, Specialists' Centre, Takashimaya. Cold Storage at Jelita, Promenade and World Trade Centre, and at the Indoor Stadium. Hotline: 348-5555. Ticket Charge outlets are at Metro stores. VVisma Atria. Centrepoint and Tangs. Hotline: 269-2929. IJ
        126 words
    • EPICURE
      • Article, Illustration
        Che char without the squalor
        819 26  -  Bon Appetit By JAIME EE EVERYBODY in Singapore has his or her own favourite coffee shop the kind of grungy "che char" place that attracts Mercedes Benz-owners with the same fervour as little beady-eyed creatures who don't pay for their meals but leave tips nonetheless.
        819 words
      • Article, Illustration
        Lock icon Sundanese savouries
        434 26  -  By JAIME EE BOAT QUAY is really starting to look like an upmarket Bugis Street hawker centre. Anxious restaurant stalT sticking menus in your faces to draw you to their doors are a turnofT, so too are the tacky plastic white chairs and beer brand umbrellas overhead. And
        Photos by Chris Loh  -  434 words
      • Article, Illustration
        The Biondi-Santi principle
        712 26  -  Wine By N K YONG TUSCANY is beautiful at any time of the year, but under the cool, dry and bright spring sunshine from a cloudless blue sky, it is just magic. The landscape with its rolling hills and gentle valleys, hill slopes covered with vineyards, olive
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    • Article, Illustration
      CINEMA
      1032 28 Ace Ventara Pet Detective. Rub-ber-faced Jim Carrey investigates when the dolphin mascot of the Miami football team is abducted. Lido: 10.45; 1.15; 3 45 Capitol: II; 1.30; 4; 6.30; 9.15. Changi: II; 1.30; 4; 7; 9.15. Jurong: 11. 30; 1.30; 5.30; 6.30. Republic: 3; 7. Yishun: 11; I; 3;
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  • Page 17 Advertisements
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      37 17 {~@`!"~/"`&=+-*;..|%>\!"@*${,,) jfj** W JEWELLERS SINCE 1547 IV FCarUer Boubque/ SMQAPORE Hgm Aral Cay. Tower B. #01 -11.391 Orchard Road. 1W: *****27 HMon Mwnattonal, #01-04, The Shopping Ge#ery, 581 Orchard Road. T0t*****95. MM# nmtoaanca. #01-03.390 Orchard Road. Tal: *****93
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  • Page 18 Advertisements
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      112 18 IW Yes, even in Vietnam Sfcs;- i,7, m y° u c <"t ?f,;w sft7/readour IBfctLl,. 4 Bi ■Mlteib, 5. »fe %Jk* V felifctll <- c f < $>. ■'>< ■■■'Sr.■:.&"■*> ••<•.• PM• 'Mt&mimkmmm Available at: < $tW*S %¥M> '-V Omni Saigon Tel: *****3 Saigon Floating Tel: *****3 Rex Hotel 1*1:
      112 words
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      Page 18 Advertisements Column 2
      26 18 •BT welcomes letters from you. I'lease address them to: The Editor, Business Times, 390 Kim Seng Rd, S pore 0923. Letters should include your contact numbers.
      26 words
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      Page 18 Advertisements Column 3
      17 18 EFFECTIVE RECRUITMENT ADVERTISING. ITS ONLY A CALL AWAY... your Appointment* or Notices,, cal toff-free 1-800-741-1883 [Th« StrmjUTTm^']
      17 words
  • Page 18 Miscellaneous
    • Miscellaneous
      Page 18 Miscellaneous Column 1
      83 18 eveayßoDy PUT R NOT£ /milkman PLEASE. i 'TH.S HOT W,J>| fe7 lt f SIJ WG tj£ftV£ -745 exTfep, V.UVG.N OP ft Bit. J V G... Mmiucnopin... J \PiMTS Pl€AS£... O teh NS{ h.n ryQ DOONESBURY GARRY TRUDEAU U/ELLGUeSSI THANKS. YOU MAYBE TAKE A FLYER ..J**" BerWRGOFHNP TOO, ALBERT. ON A
      83 words
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  • Page 21 Advertisements
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      Page 21 Advertisements Column 1
      103 21 Gleofiddlch The world s most celebrated malt Scotch Whisky W presents in-conjunction with BOON r\ us Qeb°P X jt uomotoU6 *2 WW* J on (,me e tL!l.te eriCC >» n A^ i 24 to 28 May 1994 Live jazz performance begins at 9.15pm James Moody's concert begins at 10.15 nightly
      103 words
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      Page 23 Advertisements Column 1
      143 23 V m J BMaTpw il m miawa IMCTMJB jsjW£K B We could have brought the city even closer. But, somehow, that would have been like mixing caviar with chilli crab. t *VJFORT Ho r S The Beaufort SINGAPORE Buk,. Mot. Road Sena. S.rw« 0409 Tel (65) 275 0)11 Fu 275
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  • Page 26 Advertisements
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      Page 26 Advertisements Column 1
      202 26 o-V W &bs A y <y,. p—mmjuWmmmjm ISMKPU ust reminder Last, but not least, come for a lagSgfgiVV to all great time! Concert highlights UNI NMJi iW participants. include Radioactive/ Kick! LJ- n j nnn m Humpback Oak, Chris Vadham icememoer 10 onng aiong your m nitirttfl M ■mm m
      202 words
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      Page 26 Advertisements Column 2
      12 26 PLAY SMART Be part of the good life. Lifestyle. Everyday. Business Times
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      Page 26 Advertisements Column 3
      39 26 TkjFABULOUS packages \rsKas»s^ #*3* **S2sSm tt) /f Karaoke in one of our 1 8 riverside theme rooms and party away with our fabulously-priced packages! 41A 4 VtfA| 1 IS2 Hartltxk fUmJ Simfmpmrt 01 It Tel. *****22 Fax: 7121 OH
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      Page 27 Advertisements Column 1
      678 27 M Nothing Beats A Bud, ftaafl OF FRESPfI PASTA SDAILY. W From Pasta Fresco. The only restaurant to make its own specialty pasta. Fresh, everyday. Savour perfect pizza, great /v gelati and terrific tiramisu. All topped with Italian hospitality. Pasta Fresco Da Salvator* Pte Ltd 4 30 800 l Qooy.
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      Page 27 Advertisements Column 2
      277 27 WHERE TO WINE, DINE AND ENTERTAIN Our weekend high tea is so satisfying, people sometimes break into song. Choose from a sumptuous variety of savoury and sweet favourites. And if that's not enough, our high tea special also includes karaoke at Singsation. *$1 L5O (adult) p 8.00 (child) Kftfjiokg V
      277 words
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      Page 27 Advertisements Column 3
      353 27 ■iii in AX I II K CHATTERBOX 13 2 2 May 1994 A chefs from Lai Lai Sheraton have made a come dock due to popular demand Don t miss this opportunity to savour authentic Taiwanese dishes during the food promotion •uffetlunch $20 SO♦ (Adult)/sl2.oo++ (Child) Buffet dinner: $22.50" (Adult)/sl2.oo+*
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  • Page 28 Miscellaneous
    • Miscellaneous
      Page 28 Miscellaneous Column 1
      2427 28 TODAY'S TV I 1.1 »J M 7.00 Berita Tempatwi. Sarapaa Malaysia (M) abn News(M). Ha Holds Barred, 3.10pm, SBC 5 Far Laaghs, 1.45pm, SBC 5 9.30 CNN Market Report Wrestler Hogan makes up comics take centres- 10.00 Prays frm Mecca (L). bis debut as a wres- tage the anniversary 12.00
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